Taking Fewer, Larger Steps with Lee Yoder (Ep. 46)
01/17/22 • 37 min
Welcome back entrepreneurs, today we have Lee Yoder, Founder of Threefold Real Estate Investments. Lee is a man of faith, family man and full-time multifamily syndicator with 188 units. He has already gone full-cycle on his first multifamily investment and has a great deal of business and life wisdom to share!
Taking Fewer, Larger Steps
Lee did one flip – for him, that was enough! His wife, who was initially more skeptical of real estate investing pointed out that flipping didn’t provide the passive income that Lee had set as their goal. Instead of jumping into the net flip, their conversation led to a rethink that led to multifamily investing and then to syndication. By slowing down a little, it was possible to take larger steps and make it to where he currently is faster.
Advice for Getting Your Spouse on Board with your Investing
Start small, honor your spouse.
Threefold Real Estate Investments
In case you were wondering, the name is packed with meaning. It comes from Ecclesiastes 4:12 “though one may be overpowered, two can defend themselves. A cord of three strands is not quickly broken.”
Books that Helped to Forge Lee Yoder a Leader and an Entrepreneur
Rich Dad, Poor Dad by Robert Kiyosaki
The Perfect Investment by Paul Moore
The Compound Effect by Darren Hardy
Best Ever Apartment Syndication Book by Joe Fairless and Theo Hicks
Lee’s Heartwarming Story From his Entrepreneurial Journey
The best part of his first investment was being able to bring his in-laws along for the ride.
Welcome back entrepreneurs, today we have Lee Yoder, Founder of Threefold Real Estate Investments. Lee is a man of faith, family man and full-time multifamily syndicator with 188 units. He has already gone full-cycle on his first multifamily investment and has a great deal of business and life wisdom to share!
Taking Fewer, Larger Steps
Lee did one flip – for him, that was enough! His wife, who was initially more skeptical of real estate investing pointed out that flipping didn’t provide the passive income that Lee had set as their goal. Instead of jumping into the net flip, their conversation led to a rethink that led to multifamily investing and then to syndication. By slowing down a little, it was possible to take larger steps and make it to where he currently is faster.
Advice for Getting Your Spouse on Board with your Investing
Start small, honor your spouse.
Threefold Real Estate Investments
In case you were wondering, the name is packed with meaning. It comes from Ecclesiastes 4:12 “though one may be overpowered, two can defend themselves. A cord of three strands is not quickly broken.”
Books that Helped to Forge Lee Yoder a Leader and an Entrepreneur
Rich Dad, Poor Dad by Robert Kiyosaki
The Perfect Investment by Paul Moore
The Compound Effect by Darren Hardy
Best Ever Apartment Syndication Book by Joe Fairless and Theo Hicks
Lee’s Heartwarming Story From his Entrepreneurial Journey
The best part of his first investment was being able to bring his in-laws along for the ride.
Previous Episode
45. Infinite Banking & Commercial Real Estate Investing with Drew White
Welcome back entrepreneurs! Today we welcome Drew White, commercial real estate investor and founder of TenFifteen properties and infinite banking expert.
Learn why and how to use the infinite banking concept (IBC) to your benefit. Learn why some people may not be great candidates for IBC. Learn about Drew’s
The Development of the Infinite Banking Concept (IBC)
In the 1980’s, Nelson Nash developed this approach out of desperation in the face of 18% interest rates. The wealthy had been doing this for some time. What Nash did was bring these concepts to the masses to make it possible for individuals of more ordinary means to benefit from IBC.
Famous Entrepreneurs Who Launched a Business from a Life Insurance Loan
Walt Disney and The Pampered Chef!
Most important lesson learned in investing
- This is a team sport – find your partners!
- Find the right mentor to accelerate your growth!
Best Advice
Become a team player!
Worst Advice
Find a cheap handyman – sometimes you get what you pay for!
Books that have Forged Drew White as an Entrepreneur and a Leader
The Four Agreements: A Practical Guide to Personal Freedom (A Toltec Wisdom Book) by Don Miguel Ruiz and Janet Mills
The Go Giver: A Little Story About a Powerful Business Idea by Bob Burg
Next Episode
47. Megan Orser - Property Management and Social Media Guru!
Welcome back entrepreneurs! Today we welcome “SMART Chick” Megan Orser, CEO of SMART Apartment Solutions and genuine social media guru! If you aren’t following Megan on social media including TikTok, you are missing out on some great social media marketing ideas! This interview will focus first on property management and then social media at (20:41).
Origin Story of SMART Apartment Solutions
Founded by her mother Dawn Ford during the Great Recession, SMART Apartment Solutions started out . This interview was actually recorded on SMART Apartment Solutions 14th Anniversary, January 14, 2022!
What to Look for in a Property Management Company
It’s your baby, you want a company that will take care of it like it’s their baby. The owner and the management company need to be on the same page as far as maintenance. We tend to get higher rents, which goes hand in hand with higher maintenance costs and we like building owners that see eye to eye on that. Megan takes great pleasure in helping owners take their property and its NOI beyond what they (or prior management companies) thought was possible.
What sets SMART Apartment Solutions Apart?
SMART is where the rubber meets the road. No pie in the sky theories, SMART is solutions based. They believe in “rolling up their sleeves”. You won’t hear anybody say “that’s not my job, it’s everybody’s job”. We are not afraid to give some “tough love” to their temporary employees. This could be their on-ramp! If someone needs someone to answer phones on the weekend, even though Megan is the CEO and director of education, she is happy to be there to make sure that the client is happy. Many clients say “its different working with you”. It all comes down to how we treat people and how we make them feel.
SMART Apartment Solutions Geographical Reach
For training, we can go nationally.
For temporary staffing, Michigan, Ohio, Pennsylvania, Indiana and (soon) Illinois.
For property management, we will manage anywhere in Michigan, mainly in the Metro Detroit area and mid-Michigan
For Mechanical, mainly the southern half of Detroit and “downriver” and soon to a town near you in Michigan!
Crazy Property Management Stories (18:26)
- The maintenance supervisor was skinning a deer from a balcony (during work hours)
- One resident called Megan very upset during a power outage because she was missing “Dr. Phil”.
Social Media (20:41)
TikTok (21:07)
Megan’s Journey began in 2020 after it had become the #1 downloaded app. She immediately fell in love with the humor aspect and the creation behind it.
In April when it became impossible to do in-person tours, she started using the app to do a “virtual tour”. She used the Clips app which is free and available to both iPhone as well as Android users to take the videos. These videos which she thought were low grade at the time were mixed with the theme music from “Sex and the City” turned out to be amazingly successful! She was able to get it all into a 30 second video pointing out some key features – and, the unit leased immediately! The feedback was amazing! She knew that she was onto something!
Find Megan on Social Media
TikTok, Instagram and Twitter: SmartChickMegan
Facebook and Linkedin: MeganOrser
SMART Apartment Solutions: https://smartapartmentsolutions.com/
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