Why would someone start their own property management company instead of just hiring a third party? Today’s guest, Colin Douthit has some answers. Colin is the founder and owner of Atlas Property Management, has been in the real estate space for just three years, and already manages over 360 doors, with another hundred in the pipeline. In this episode, we talk about why Colin decided to start his own property management company, and the pros and cons of doing do versus hiring a third party. He explains some of the challenges, standard operating procedures, and tools he uses, as well as some tips about what owners can do to partner with property management companies to make it a little easier for both parties. Don’t miss this episode!Key Points From This Episode:Colin introduces himself and explains how he got into real estate as an investor.The pros and cons of starting your own management company versus hiring a third party.Inversely, why someone would hire a third party versus starting their own company.Some challenges with owning a property management company, like investors and tenants.Dealing with the balance between the goals of different customers, particularly disparities in desired rent and maintenance pricing.Standard operating procedures when running a successful property management company.Colin talks about using Buildium property management software and why it is a great service.The three top skills one needs as an investor before starting a property management company: Understanding investors, organization, and business acumen.The number of doors necessary per property manager to start a profitable company.The specialized approach that Colin takes to focus the work that property managers do.Colin talks a bit more about the role his leasing agent plays and the commission she takes.What owners can do to partner with property management companies to make it easier.How COVID-19 has impacted Colin’s business and projected long term implications.Why Colin can’t do without G Suite, and why you should always take out a construction loan.Tweetables:“There’s a certain number of doors that you need per property manager to, at least in our analysis, every company’s going to run it differently, but to be profitable, right?” — Colin Douthit [0:10:53]“As much as we wanted to give as much attention to the owners is we can, once we hit 30, 40 owners, you might not always remember all the plans that you had set forth. So like, ‘Hey, what was the goal on this one again?’ Just be understanding that we’re trying to execute your goal. We want it to be as successful as possible.” — Colin Douthit [0:15:28]Links Mentioned in Today’s Episode:Colin Douthit on LinkedInAtlas Property ManagementAtlas Property Management on LinkedInAtlas Property Management on InstagramAtlas Property Management on FacebookBuildiumG SuiteAPT Capital GroupPassive Income Through Multifamily Real Estate on FacebookSchedule a Call with Kyle Mitchell

Passive Income through Multifamily Real Estate

Episode #153: Starting Your Own Property Management Company with Colin Douthit

For this Asset Management Fridays edition of the show, Chris Jackson from Sharpline Equity joins us to talk about renewal management now versus a few months back! Chris is a multifamily investor and syndicator with 10 years of experience, who has raised over 12 million dollars and completed over 500 unit transactions. Chris weighs in on the value of having more communication touchpoints with tenants now that so many people are canceling leases. This strategy also works when it comes to keeping track of whether a renewal plan is working – simply gauge if tenants are staying or leaving and you’ll know! In sum, Chris swears by the importance of being a good people person when it comes to asset management, talking about how it benefits everything from renewal management to delinquency management, resident marketing, community development, and teams on-site. Other takeaways from Chris today include how renewal management should change on a property over time, and a few lessons he learned after trying to scale a single-family portfolio by applying a multifamily lens to it. Tune in for a brief but informative chat about best practices for renewals with Chris Jackson today!Key Points From This Episode:Chris’s real estate credentials and passion for bringing technology into asset management.Perspectives on how much asset management has changed in the last two months.How to approach residents about renewals and units in the current climate: more touchpoints.The cycle of how renewal management changes overtime after a property is bought.A story of things going awry while scaling a single-family portfolio with a multifamily lens.How Chris tracks, if a renewal plan is working; are residents staying after the renewal?Our guest’s views on renewal management changing over the next five years.Chris’s superpower and the use of relationship-building for good asset management.Different forms of communication Chris uses to suit his tenants’ preferences.Tweetables:“Renewal management looked like one thing before. Renewal management now in the last two months looks different.” — Chris Jackson [0:01:27]“Relationship building affects all of the pillars of asset management from renewal management to delinquency management, resident marketing, community development, and your team on-site.” — Chris Jackson [0:05:38]Links Mentioned in Today’s EpisodeChris JacksonSharpline EquityMultifamily UnveiledPassive Income through Multifamily Real Estate group on FacebookKyle Mitchell on FacebookGary LipskyredIQAPT Capital Group

Episode #152: Renewal Management with Chris Jackson

Many people will tell you that you need heaps of money to get started in real estate. But Sterling White, today’s guest, is proof that you don’t always need money to start making money. With just under 400 units, Sterling is a top BiggerPockets contributor and hosts the Real Estate Experience Podcast too. We begin our conversation with Sterling giving us some background. He talks about growing up in a “red-zone” neighborhood and how his entrepreneurial spirit led him into real estate investing. Having transitioned from owning 150 single-family homes, we ask him how he got into multi-family investing. In an expensive market, where people were paying more than they should have, Sterling shares how he bypassed the brokers by tracking down owners and dealing with them directly. We discuss his strategy of tracing down owners and then cold calling them. Illustrating the success of his model, Sterling talks about how he landed a deal with a mom and pop run property. Even though they didn’t want to initially sell, Sterling maintained a relationship with the owners so that he was always front-of-mind. Eventually, he got that deal. After providing details on his process, we explore his approach to underwriting and how building his personal brand has been valuable in establishing his credibility and authority. Sterling highlights the importance both of going the extra mile and of providing value. As he explains, it was through providing value to a mentor that he got his start in real estate. Tune in to hear how you can provide value and kick-start your personal brand and career. Key Points From This Episode:Sterling’s start in real estate and how his background fueled his entrepreneurial drive.Why Sterling transitioned from single-family to multi-family investments. What skip tracing is and details about Sterling’s first multi-family deal. Instead of waiting for market corrections, going straight to the owner to make a deal. How Sterling finds his deals by finding apartments and then cold calling.Building relationships to land a deal if the owner won’t initially sell to you. Sterling’s process in contacting prospective sellers. Financing a deal through the seller or through traditional means. How Sterling approaches underwriting and at what point he conducts a deep analysis.  The importance of building your personal brand — Sterling provides tips on starting out. How Sterling found a mentor by finding a way to add value to their company. Hear how Sterling got Grant Cardone on his podcast. Links Mentioned in Today’s Episode:Sterling White on BiggerPocketsSterling White on InstagramSterling White on LinketreeThe Real Estate Experience PodcastFrom Zero to 400 UnitsAsset Protection Attorney Wayne Patton Honda AccordTruePeopleSearchBeenVerifiedJab, Jab, Jab, Right HookGrant CardonePassive Income Through Multifamily Real Estate Facebook Group 

Episode #151: Why Providing Value Leads to Success with Sterling White

Executing your business plan is not always easy as many variables can derail your initial course of action. Today’s guest, Devin Elder, knows the importance of sticking to your guns and has seen firsthand the benefits of persevering with a tried and tested investment thesis. In this episode, Devin sheds light on his company, DJE’s business plan, their desired ROI on money spent on interiors, and the asset classes they invest in. While doing heavy value-adds may not appeal to all operators, for Devin, it’s a chance to be creative. We also touch on systems and how software has helped the businesses streamline their processes for optimal efficiency. Along with this, Devin shares some wise words as well as a look at what his asset management superpower is. Tune in today!Key Points From This Episode:Hear about Devin’s background, where he’s based, and his current investment focus.Devin’s most frequently implemented business plan for apartment purchases.Why dealing with people is the most challenging part of executing a business plan for Devin.The double-edged sword of big value-add deals: Opportunity versus challenge.Why Devin has not veered too far from his workforce housing investment thesis.The role that software automation plays in being able to execute a business plan.Two pieces of advice Devin would give his younger self.Find out what Devin’s asset management superpower is.Tweetables:“We’re looking for a substantial component of units that haven’t been renovated that we can go in, update, and see an ROI 20% or better on an annualized basis.” — Devin Elder [0:02:15]“Real estate is easy, people are hard.” — Devin Elder [0:02:33]“We are scared of the unknown, right? And it looks scary at night when you can’t see anything and in the morning it is silly that you are scared of it. So, you have to get the other side of that fear.” — Devin Elder [0:09:29]Links Mentioned in Today’s Episode: The Garzella GroupDJE Texas Management GroupDevin ElderGary KellerAPT Capital GroupAPT Capital Group on YouTuberedIQPassive Income Through Multifamily Real Estate Facebook Group Free Call with Kyle or Lalita

Episode #150: Business Plan Execution with Devin Elder

A fund is probably one of the most powerful and safest ways to diversify your assets, but how do you know when you’re ready to start a fund? And which markets should you invest in? Today’s guest, Dave Seymour, has some experience in this area. After 16 years as a firefighter and paramedic, Dave launched his real estate career, rapidly becoming one of the nation’s top real estate investors. Within his first few years, Dave has transacted millions of dollars of real estate and had become a leading expert in both residential and commercial transactions. Some of Dave’s areas of expertise lie in lending, commercial multifamily, financing, and retirement strategies. In this episode, we’re talking all there is to know about funds: how they work, how to start one, and how to know when you’re ready. Dave shares his experience with his partner, Walter Novicki, and shares some key advice for starting a fund of your own. Tune in today to find out more!Key Points From This Episode:Dave introduces himself and shares why he got into real estate to change his circumstances.Flipping single-family houses on Flipping Boston while holding commercial real estate.Transitioning from a W-2 into real estate required a change in Dave’s mindset and hard work.Looking for a hand up rather than putting a handout – there has to be reciprocity in business.Dave explains how a fund works and shares a bit about the fund he started with his partner.Why a fund is probably one of the most powerful and safest ways to diversify your assets.What Dave’s day-to-day looks like as a fund manager – he raises money all day, every day.Which markets his fund invests in, and why Dave avoids the big 200+ apartment complexes.The core-plus business model of taking an underperforming asset and turning it, and how Dave does it faster.Why Dave has included a 10% allocation for direct lending in the buy, fix, and flip space.Dave explains that fund two will be a $250 million fund, potentially structured as a Reg-A.When Dave and his team were ready to start a fund and how COVID has created massive opportunities for them.The tools in real estate that Dave can’t do without is his network and his team.Dave’s biggest investment mistake and his main takeaway – educate, don’t speculate.Why Dave needs to convince his wife to sell their primary residence and take the equity out.Links Mentioned in Today’s Episode:Dave Seymour on TwitterDave Seymour on LinkedInDave Seymour on FacebookFreedom Venture InvestmentsThe Flipping FormulaAPT Capital GroupPassive Income Through Multifamily Real Estate Facebook Group Free Call with Kyle or Lalita

Episode #149: Starting a Fund with Dave Seymour

When it comes to raising and managing capital, it’s all about putting the investor first. Today’s guest is Brian Adams, and he joins us to talk about all lessons he has learned about this syndication fundamental. Brian is the Principal and Founder of Excelsior Capital, and he starts out today talking about his journey into capital raising as well as his focus on buying up multi-tenant office properties in secondary markets in the Midwest and Southeast. From there, Brian gets into how he raised over $60 million of equity in three years after learning the power of listening to his investors’ needs! Brian raised so much capital that managing it brought a whole new bag of challenges, and we hear how this taught him to value things like reporting and transparency as highly as he does. For Brian, networking is key, and he weighs in on how he took the opportunity provided by some family connections initially and used it to build an ever-expanding community of investors who trust him. Brian gets into essential software tools, the value of his CFA certified staff, and of course, his superpower today, too. For all this and more, listen in!Key Points From This Episode:Brian’s journey into capital raising, the assets he buys, and his portfolio size.How Brian learned it’s easier to raise capital by asking key investors what they want to buy.Lessons learned about effective management after raising more capital than Brian could manage.The role of family networks in gaining momentum for raising capital initially.How Brian scooped up his second phase of investors by offering a unique opportunity in the office space.Indispensable software for Brian including Juniper Square, ETS, and Slack.The use of Brian’s CFA certified team and why his gift for networking his is superpower.Tweetables:“It’s much easier to scale and you will raise much more capital if you actually take the time to sit down with your most logical network of investors. Folks that are likely to give their resources to you and just ask them what they want.”— @ExcelsiorCapit1 [0:02:37] “We’re very focused on reporting, transparency, and actually, what that experience of the investor is beyond just what the economics over the returns are.” — @ExcelsiorCapit1 [0:04:58]Links Mentioned in Today’s Episode:Brian Adams on LinkedIn Excelsior CapitalJuniper SquareKKRBlackstoneETSSlackredIQAPT Capital GroupThe Garzella GroupPassive Income through Multi-family Real Estate group on FacebookGary LipskyKyle Mitchell

Episode #148: Raising Capital with Brian Adams

We all have LinkedIn profiles, but how can we use them to actively pursue leads and build lists of prospective investors? Today’s guest is Yakov Smart, who is considered to be the leading expert when it comes to attracting A-list investors and raising capital using LinkedIn. He’s the author of the book, Disrupting LinkedIn, and a sought after authority by top business owners and sales leaders worldwide. Yakov currently focuses on training and consulting others on how to transform their LinkedIn profiles into priceless relationship-building assets. In this episode, he shares with us some tips and tricks for using LinkedIn to maximize engagement, create powerful connections, and get potential investors curious. We discuss time spent on attracting leads, pushing content, using hashtags, and benefitting from your business page, as well as five ways to build lists of prospective investors that Yakov finds useful. Yakov has some impressive, valuable, and easy-to-implement advice for any real estate investor looking to maximize the potential of their LinkedIn profile, so don’t miss this episode!Key Points From This Episode:Yakov tells us about himself and his methodology for helping others attract A-list investors.Why LinkedIn has become so relevant in recent years, since it was purchased by Microsoft.The platform’s powerful SEO capabilities and Yakov’s advice for how your profile should look.LinkedIn profile goals: Establish authority, attract investors, and make them feel understood.Yakov’s view on articles versus featured content – don’t spend all your time writing articles.How much time should one spend on attracting leads? Yakov recommends 15-20 minutes. Tips for pushing content: Consistency is key, as is engaging with other people’s content.How to use hashtags by picking three to five that relate to the big picture of your business.The benefits of groups and business pages: Engagement, organic reach, and credibility.Yakov’s views about LinkedIn as a worthwhile place to advertise on in 5-10 years.In the final five questions with Lalita, Yakov’s top tools, his biggest career mistake, and more!Links Mentioned in Today’s Episode:Yakov Smart on LinkedInYakov Smart on FacebookDisrupting LinkedInRaising Capital WebinarsLinkedIn AdvertisingLinkedIn Sales NavigatingAPT Capital GroupPassive Income through Multifamily Real Estate on FacebookSchedule a Call with Kyle Mitchell

Episode #147: Using LinkedIn to Attract Investors with Yakov Smart

Welcome to Asset Management Friday! Today’s episode is all about insurance, and our special guest is Daniel Garzella, President of The Garzella Group, which is an insurance brokerage that specializes in multifamily property insurance. Dan founded the Garzella Group in 2014 and, prior to starting his own firm, he was selected as one of America’s top commercial insurance agents of the year for five years in a row. This episode focuses on the processes one needs to go through to get the best insurance deal, from learning about the different devices available within multifamily and commercial insurance to learning how the requirements change as the asset increases in value. Dan covers all of this and more, sharing with us how The Garzella Group uses its knowledge and expertise to set itself apart from other insurance companies, helping to reduce your insurance costs by doing extensive market research and creating a number of different options for better value. For more on what new syndicators need to obtain a quote, and some of the things that your asset manager might not be aware of, tune in today!Key Points From This Episode:Dan introduces himself and his company, The Garzella Group.The different services within multifamily and commercial insurance.Changing insurance requirements as the value of the asset or the loan increases.The role that consulting groups play on behalf of the lender.The increase in cost per unit and the financial stability of the carrier after the $25 million mark.How knowledge and expertise set The Garzella Group apart from other insurance companies.What new syndicators need to obtain a quote and at what stage of the process they should.Some of the things an asset manager might not be aware of, including the impact that the insurance policy can have on the operating income.Dan’s asset management superpower – seeing an issue before it arises and taking care of it.Reducing insurance costs by doing market research and creating different options.Tweetables:“The insurance isn’t going to pay the loan amount just because it’s the loan amount, they’re not going to pay the market value just because it’s the market value, they’re going to pay the cost to rebuild it. We would push for the reconstruction cost and we can actually do that using the appraisal that the lender ordered in order to validate the deal to begin with.” — @garzellagpmfra [0:06:11]Links Mentioned in Today’s Episode:The Garzella Group on TwitterDaniel Garzella on LinkedInThe Garzella Group: Insurance and Financial ServicesRequest a Quote from The Garzella GroupredIQPassive Income Through Multifamily Real Estate Facebook GroupAPT Capital Group

Episode #146: Insurance with Daniel Garzella

Jerome Maldonado’s passion for, and knowledge of, real estate development (and the art of making money), will pique everyone’s interest in the subject. He started out with very little, managed to survive the 2008 recession, and has built up an extremely successful real estate development company, J. Jacob Enterprises Inc. Jerome focuses on the opportunities that exist in seemingly dire situations, and through hard work, skill, and the valuable relationships he has built up over his 20 years in the real estate business, he managed to sail through the shock of the COVID-19 pandemic unscathed. One of his current main ventures is warehouses, specifically those which service the booming e-commerce industry; Jerome sees the beauty in this ‘ugly real estate’ and is excited about the potential for major capital generation in this space. Jerome is clearly a master of his field and he is eager to impart his wealth of knowledge (and knowledge of wealth) onto others. His Real Estate Domination event is taking place on the 6th, 7th, and 8th of November 2020 - whether you are looking to ‘compound your success’ or are still on the road to making a success of yourself, this online event is not one to be missed! Link to the webinar registration can be found below.Key Points From This Episode:Why the “ugly real estate” space is exciting.Massive growth in the e-commerce sector.Impacts of the COVID-19 pandemic on the hospitality industry.The mental phases that real estate owners experience when they are in financial distress.When the best time is to make a profit in real estate. Taking advantage of challenging situations in order to create opportunities and wealth.What to expect from the upcoming Real Estate Domination event (and why you should attend!).Importance of establishing good business relationships.Learning from mistakes: don’t become overconfident and sloppy. Tweetables:“Where there’s a downturn, there’s also opportunity” — Jerome Maldonado [0:02:04:3]“That’s where wealth is made and you can either be a part of the problem or you can be a part of the solution. When you’re a part of the solution, you’re creating economic opportunity. ” —  Jerome Maldonado [0:11:28:7]“What I love about real estate is that I can compound my capital and so that is my phrase; compound your success.” — Jerome Maldonado  [0:24:11:5]Always stay true to your systems, your beliefs and your underwriting and what you are taught, regardless of how the market is. - Jerome Maldonado [0:24:31:9]Links Mentioned in Today’s Episode:Jerome Maldonado Jerome Maldonado on InstagramReal Estate DominationAPT Capital GroupElite Real Estate SocietyElite Real Estate Society (webinar registration link)

Episode #145: Real Estate Domination with Jerome Maldonado

Sometimes we might forget the importance of community and engagement in the field of real estate and particularly the multi-family sector. Here to talk to us about community management and the best ways to use it as a tool for your business, is Eric Upchurch from Active Passive Income! He has a strong message about getting out of your comfort zone and getting a community involved, with a specific focus on honoring military heroes of the past! Eric explains the reasons he believes community engagement to be so important to all of us, and we talk about some of the events and campaigns which he has run. The conversation also covers the financial impact that community management can have and Eric gives us a few great examples of the results he has seen. We touch on learning fast and taking lessons forward before Eric unpacks his own asset management superpower; as you may have guessed, networking! As a somewhat surprising introvert, Eric needs time to recharge and be alone but that does not mean he does not go out and connect when the time is right! For these and a host of further lessons from a great young voice, listen in today!Key Points From This Episode:Eric's young career in multi-family real estate after his military service.Why is community engagement so important in the multi-family space?The hero-based approach to real estate that Eric and his company follow.Other initiatives and events that Eric uses to engage the community. An example of the great results that Eric and his company has seen from these strategies. How community engagement can affect the financial aspect of the business. The efficacy of using Facebook Marketplace during and before the coronavirus crisis. Eric's attitude towards trial and error; learning and moving on as fast as possible. Eric's asset management superpower; super networking! Tweetables:“Two years ago I had zero experience, didn’t even know regular people like us could buy multi-family properties.” — @ADPassiveIncome [0:01:11]“We believe that not only should veterans own as much of America as possible but we owe it to the communities that we invest in to make them a better place to live.” — @ADPassiveIncome [0:04:01]Links Mentioned in Today’s Episode:APT Capital GroupThe Garzella GroupEric Upchurch EmailredIQActive Duty Passive IncomeActive Duty Passive Income on TwitterEric Upchurch on Instagram

Episode #144: Community Management with Eric Upchurch

While COVID-19 is a total black swan event and it is hard to predict its effects, it could be a blessing in disguise for multifamily. Neal Bawa joins us again on the show today, and this time to give us his data-driven insights into the impacts of coronavirus on real estate. Neal is a technologist, data scientist, and self-proclaimed geek. He is the CEO and Founder of the highly successful commercial real estate investment company Grocapitus Investments and is also the CEO of MultifamilyU, an apartment investing education company. A big takeaway from our chat with Neal is about how we only feel the effects of recessions in real estate after a long lag. With COVID things have been slightly different though, and Neal gives us his insights into why we will see rents continue to drop but in the long run, the fact that multifamily is a need-based asset could make it extremely recession-resistant. From there, we hear about what Neal is doing to cover himself for the coming temporary dip, and also hear about a great opportunity this situation has brought in the form of Fannie Mae loans now being available at 2.8% for a 10-year fix. Wrapping up, Neal gives us some of his research-backed perspectives on which markets we should be investing in right now, before we shoot our usual final four questions his way. For valuable insights on the effects of COVID-19 on multifamily, be sure to tune in today!Key Points From This Episode:Neal’s road from tech into real estate and what his current portfolio looks like.The impacts of COVID on real estate and why this is a black swan event for the market.That the real estate market feels the effects of recessions after a long lag and why.Effects of COVID on multifamily specifically: A bright future after a temporary rent growth dip.Why multifamily will be the least affected asset class of all because it is need-based. Low delinquency rates in multifamily, except for in C-class, because of poverty.What might happen once people realize how recession-resistant multifamily is.Neal’s strategy to focus on occupancy to get him through the next few months.Why the aggressive vaccine strategy happening worldwide gets Neal’s approval.The opportunity presented by Fannie Mae loans being available at 2.8% for a 10-year fix.Good and bad markets to be investing in according to Neal’s data-driven insights.One thing COVID has taught Neal about the unpredictability of black swan events.Links Mentioned in Today’s Episode:Neal Bawa on LinkedInNeal Bawa on TwitterNeal Bawa EmailMultifamily UniversityGrocapitus InvestmentsEpisode 55 with Neal BawaGreystoneFannie MaeFreddie Macweareapartments.orgZoomAsset Protection Attorney Wayne PattonWayne Patton Contact NumberPassive Income through Multifamily Real Estate group on FacebookKyle Mitchell on FacebookGary LipskyAPT Capital Group

Episode #143: The Impact of COVID-19 on the Real Estate Industry with Neal Bawa

Going full cycle on deals is often very important, particularly when you’re trying to build a track record. But seeing a deal through till the projected end isn’t always necessary if returns are high before this point. Today's guest, Michael Becker, Principal at SPI Advisory, is here to share more on disposition with us. In this show, Michael sheds light on a host of disposition-related topics, such as SPI’s adaptive approach to selling their properties, why he believes that going full cycle is necessary for newer operators and the importance of not being over-distributed when exiting a deal. Along with this, we also get into keeping a pulse on trailing and forward-looking numbers, and why you shouldn’t think a deal is done if it’s only under contract. For this and much more, tune in today!Key Points From This Episode:Learn more about Michael’s background and what SPI Advisory does.Find out about SPI’s flexible, data-driven approach in planning to sell properties.An example of a property SPI sold and some of the KPIs they were tracking to know the right time.Michael’s advice for operators who have not yet gone full cycle on a deal.Some of the biggest lessons Michael has learned working on 1031 exchanges.Find out the details of what goes into wrapping up a deal.The biggest challenge Michael has faced when selling a property and his asset management superpower.Tweetables:“Just because the deal’s in contract, doesn’t necessarily mean it’s going to close.” — Michael Becker [0:05:15]“You are just going to make a decision based on the available information you have in front of you right now and then the future is uncertain. So, the further out you go the less certain it is going to be.” — Michael Becker [0:08:08]Links Mentioned in Today’s Episode:SPI AdvisoryMichael Becker on LinkedInOld Capital Real Estate Investing PodcastGarzella GroupredIQPassive Income Through Multifamily Real Estate Facebook Group 

Episode #142: Disposition with Michael Becker

There are three main objections to investing in the California real estate market: there is a barrier to entry, the cap rates are too low, and the properties are too expensive. On today’s show, listeners will hear real estate broker Juan Huizar convincingly refute each of these popular claims, showing that this market not only has a promising future but is performing surprisingly well despite the recession. The show starts with our guest sharing his story of coming to the US with his family at a young age and how his parents instilled in him the values of perseverance and a strong work ethic. After being told that an accounting degree was the ticket to a prosperous financial future, Juan obtained this degree intending to become a CPA, but his path crossed with someone who introduced him to real estate investing and who led him to ultimately switch directions after graduation. We change gears to speak about the notoriety of the Southern California market, and Juan unpacks each of the common concerns and explains why none of them should deter an investor. This is not, after all, a get-rich-quick game but rather one that guarantees success if you stick it out for long enough. Juan offers advice for dealing with states like California that are not friendly to landlords, and he talks about the possibility of still landing cash flow deals in the area and where he believes the market is moving in the next three to five years. Listen in to also hear about his biggest-ever mistakes and his surefire formula for deciding whether to buy a property or not. Key Points From This Episode:Learn about Juan’s background as an immigrant and the values his parents instilled in him. Obtaining a degree and accounting yet turning down the big firms. Juan talks about the person who introduced him to real estate and became his mentor. A summary of how the California real estate market is currently performing. Why you should not focus on the purchase price but on the payment/rent you are getting. Unpacking (and debunking) the perceived challenges of California real estate investing. The problem with looking only at the cap rate when deciding to invest or not.This is not a get-rich-quick strategy but a get rich guaranteed—if you give it enough time. Advice for overcoming the challenges related to investing in a landlord-unfriendly state. Tenants who are waiting in line to move in and other benefits of investing in SoCal. Juan on whether you can still get cash flow or only appreciation in California markets. A prediction of where the California market is headed in the next three to five years. Links Mentioned in Today’s Episode:Juan Huizar on LinkedInSage Real Estate Wayne Patton Wayne Patton NumberRich Dad Poor DadCalifornia State University, Long BeachAsset Management Virtual SummitPassive Income through Multifamily Real Estate group on FacebookKyle Mitchell on FacebookGary LipskyAPT Capital Group

Episode #141: Crushing It In California Real Estate with Juan Huizar

Today, Kyle Mitchel and Gary Lipsky look back at their latest summit, talk about the raging success that it was, and why you can’t miss out on the next one. The Asset Management Summit was hosted in September and October, and was born out of one question: How do we become best-in-class operators in asset management? To create maximum value, Gary and Kyle got in touch with the best speakers in the business and asked them to share their industry knowledge. For Kyle, this summit wasn’t just about sharing insider tips. It was about breaking down the barrier between competitor and community. Their summit was a space where like-minded individuals could come together, share their know-how, and improve themselves professionally. In this episode, you’ll hear Kyle and Gary’s favorite takeaways from the summit, including system methods for asset management and how to go about asking the right questions. You’ll also catch a glimpse of the future, as the two talk about future summits and a book set to be released in early 2021. Be sure to tune in!Key Points From This Episode:Introducing you to the segment theme of building better systems and becoming a best-in-class operator.Recapping the Virtual Asset Management Summit.Gary and Kyle’s motivation for the summit came from the question: how do we become best-in-class operators?Teasing the next summit which is scheduled for April 2021. A quick look at how you could have benefited from the summit.Kyle on breaking down the barrier between community and competitors.Their top three takeaways from the summit.Discover the value of having useful asset management systems. Using the correct systems to help you ask the right questions.Understand the importance of managing the managers, specifically property managers.Gary goes into his favorite aspects of the summit and the things he learned.Hear about the need for great communication.If you missed the summit, there are over 40 recordings available.Looking ahead to the launch of their book in 2021.Tweetables:“We brought the best speakers to our summit to talk about their practices and we weren’t disappointed. We had over the 1,800 people that registered – I mean the feedback has been tremendous, so we are really excited how well it went ” — @garylipsky [0:01:33]“We’re going to host another one in April, that will only be seven days. We’re still working on that but what an amazing event and it really comes down to the speakers. They shared so much value, every single one of them.” — @kyle_wang1  [0:01:49]Links Mentioned in Today’s Episode:Passive Income Through Multifamily Real Estate Facebook Group Free Call with Kyle or LalitaGary Lipsky on LinkedInGary Lipsky on TwitterKyle Mitchel on LinkedInKyleMitchel on TwitterLaSalleVIPredIQAsset Management MasteryStitcher APT Capital Group

Episode #140: Virtual Asset Management Summit Wrap Up with Kyle & Gary

Not all landlords want to hire property managers. It could be that fees are too expensive and erase the margins completely or just that they would like more control. Whatever the case, landlords need systems to self-manage their property. Today’s guest, Laurence Jankelow, co-founded a company, Avail, that has built an all-in-one suite of tools to help landlords manage their rental properties. We kick off the show by hearing about how Laurence’s desire to earn passive income and achieve financial freedom led him to real estate investing and ultimately starting Avail. He shares the company’s founding story and how it solves the pain points he and his partner, Ryan, faced as self-managing landlords. From there, we learn more about Avail and the tools it offers landlords and tenants. From tenant screening to maintenance requests to rental payments, the platform currently offers a range of services that are both safe and convenient for users. There are several other features in the pipeline, which Laurence also sheds light on. We then discuss some of the important systems DIY landlords should have in place along with how to manage out of state properties. As usual, we wrap the show up with our Final Four questions. Be sure to tune in today!Key Points From This Episode:Hear about Laurence’s background and his transition from the corporate world to real estate.Laurence’s motivation for starting Avail and how it grew from an idea on a napkin to where it is now.Find out more about Avail and the services it offers both DIY landlords and tenants.Why Laurence and his partner, Ryan, rebranded and ultimately decided on the name Avail.Avail’s pricing structure and the difference between the unlimited and premium plans.Hear about how Avail manages maintenance requests from the tenant and landlord side.How Ryan incentivizes his tenants to help with showings he can’t do himself.Some other important systems that DIY landlords should have in place.Learn about the impact that COVID has on Avail’s systems and the market generally.The importance of setting up systems to help save time and ensure legal compliance.Why Laurence is passionate about three-unit multifamily investments.Final four questions with Laurence: The tools he can’t do without, his biggest mistake, and more!Links Mentioned in Today’s Episode:Laurence Jankelow on LinkedInLaurence Jankelow on TwitterLaurence Jankelow EmailAvailRyan Coon on LinkedInGoldman SachsTransUnionG SuiteAsset Management Virtual Summit Free TicketWayne PattonWayne Patton’s NumberAPT Capital GroupPassive Income Through Multifamily Real Estate Facebook Group Free Call with Kyle or Lalita

Episode #139: DIY Landlording with Laurence Jankelow

Welcome to the Passive income through multifamily real estate podcast brought to you by Limitless Estates where Kyle and Lalita talk to top experts and seasoned passive investors in the business to help provide clarity and key insights to keep you safe on your journey to financial freedom. Our goal is to help you get educated on how to create passive income for you and your family by using real estate as your vehicle.

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Passive Income through Multifamily Real Estate

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