Business
One of the reasons passive investors like multifamily syndications is to leverage the time and experience of seasoned operators. So how does a 21-year old become a multifamily syndicator, while still being a student at UC Davis? If anything, it shows that you can overcome any obstacle if you are willing to educate yourself, work diligently, and proactively address the challenges. Kyle Marcotte was 21-years old when he completed his first multifamily syndication. He now has two deals under his belt, with 119 units, valued at $5.5MM. We discussed how he overcame his youth and lack of experience, how he built credibility, despite having no experience, how his father’s work ethic inspired him Partner: Join Us for the Virtual Midwest Real Estate Networking Summit Key Takeaways: Hard work does not necessarily mean financial success, which he learned from his father (amazing story!) How Kyle mapped out his life Understanding the 5 layers of wealth: 1. Trading time for money (working hard). 2. Starting your own business. 3. Investing your money 4. Diversifying your investments. 5. Circulating capital Money is circulated not exchanged From a neurosurgeon student and athlete to wholesaling, Kyle immediately knew that multifamily was where he would gain more time flexibility and wealth The first strategic steps Kyle took to start in multifamily investing Utilizing meetups to break into real estate investing How Kyle began his multifamily syndication career with no experience at 20 years old Borrowing credibility: Building a strong team and how to delegate The details of Kyle’s Louisville, KY deal First deal surprises: Didn’t have a good investor questionnaire of where their money was coming from which is vital Nurturing investors during the deal process Key lesson learned: Always ask about the story of the property The second deal: Atlanta, GA. (good tenant laws) Partner: Download our Sample Deal Package Bullseye Tips: Apparent Failure: Was working on a 9-unit deal in Austin, TX pre-Covid19, but didn’t buy it, which he is thankful for, as it would have been a headache had he done so. Digital/Mobile Resource Slack Most Recommended Book: Letters From A Stoic (Seneca) Daily Habit: Meditation Wish I Knew When I Was Starting Out: People are just people no matter their “status” and shouldn’t be feared or idolized Curious About: What’s going to happen to the economy and AI Best Place to Grab a Bite in Austin, TX Rudy’s Contact Kyle: Kyle Marcotte Instagram: @kylemarcotte9 Own Your Time Podcast