Sat, 13 October 2018
MB 136: From Splitting Firewood to Full-Time Multifamily Investor in Under 2 Years – With Michael Beeman
Once upon a time, Michael Beeman was struggling. He had a blended family of seven kids, and his corporate salary of $60K was not making ends meet. Michael started a side business splitting firewood, and he was bringing in an additional $15K—but he wanted to do more than just survive. Michael wanted his family to thrive. So, he started listening to multifamily podcasts and real estate audiobooks while he was cutting and delivering firewood.
By May of 2017, Michael had saved up $12K. His best friend and his mom contributed $20K each, and with $52K, he started looking for his first deal. Today, Michael has a 64-unit portfolio, and he is about to close on a 61-unit deal. The best part? Michael recently put in his two weeks’ notice so that he can pursue real estate investing full-time.
On this episode of Apartment Building Investing, Michael sits down with me to share the details of his current 61-unit deal, discussing the value of building broker relationships for introductions to pocket listings. He explains how he began his investing career just 18 months ago and his plans to quit his corporate job at the end of the year. Michael describes how enthusiasm for multifamily investing along with creativity and perseverance helped him find his first deal and overcome the challenges he’s faced along the way. Listen in for insight on building a real estate team with the right talents and attitude and learn how Michael’s ‘never quit’ philosophy took him from splitting firewood to get by to full-time real estate investor in under two years!
Michael’s current 61-unit deal
Michael’s real estate journey
How Michael found his first deal
Michael’s insight on the value of creativity
Michael’s setback in hiring the wrong contractor
How Michael built a talented team
How Michael overcame obstacles
Michael’s take on quitting his corporate job
Connect with Michael
Call (217) 508-8185
Sat, 13 October 2018
So, you want to scale your multifamily business. What are your options? One strategy involves leading your own real estate investing meetup. But how do you get a significant number of people to attend that first meeting? Are there hacks to help you become popular FAST? And how do you follow up with the group when the time comes to raise money for a new opportunity?
Adam Adams is a syndicator with BlueSpruce Holdings, a multifamily real estate investment firm focused on purchasing apartment buildings in emerging markets. He repositioned his first apartment community as a property manager in 2007 and went on to purchase his first multifamily property the same year. Adam has managed a number of single-family fix and flips, and today, he holds 100-plus multifamily rental doors. He is also the host of the Creative Real Estate Podcast and the organizer of Colorado’s most active real estate meetup group.
Today, Adam joins me to discuss the recession’s impact on his multifamily career and his return to real estate in 2015. Adam walks us through his transition from single family remote fix and flips to apartment buildings, offering advice to aspiring multifamily investors around aligning with an experienced operator and ‘wearing one hat.’ Listen in for insight on the benefits of leading your own real estate meetup group and learn how Adam has leveraged meetups to raise $4.4M and become a community leader in the space!
Adam’s background in real estate
The recession’s impact on Adam
Adam’s return to real estate investing
Why Adam transitioned to multifamily
Adam’s path to multifamily
The major surprises of syndication
Adam’s approach to building credibility
Adam’s advice for aspiring multifamily investors
Why Adam created a real estate meetup
How Adam has benefitted from the meetup
Adam’s hacks for creating a successful meetup
The format of Adam’s meetup
Adam’s follow-up mechanism for raising money
Adam’s insight on scaling your business
Connect with Adam
Text MEETUP to 555 888
Thu, 4 October 2018
Do you struggle to remember names at networking events? Do you rely on notes when introducing a speaker or giving a presentation? Do you invest in conferences—and promptly forget what you learned? It’s not that you have a ‘bad memory.’ You simply haven’t learned the simple techniques that would allow you to improve your recall, enhance your relationships, and ultimately grow your business!
Ron White is one of the top authorities on memory in the world. He won the USA Memory Championship in 2009 and 2010, and his YouTube Channel, Brain Athlete Ron White, is number 1 among memory experts. Ron speaks to audiences of all sizes all over the world, from Singapore to Ireland to Zimbabwe. He has appeared on Good Morning America, Martha Stewart Living Radio, and the Dr. Oz Show, among many other media outlets.
Today, Ron joins me to explain how he became the two-time National Memory Champion, memorizing a deck of cards and a 167-digit number in record time! He describes the Afghanistan Memory Wall event in which he honors the 2,300 service men and women who died in the war and offers insight around the benefits of a good memory in improving your business and your life. Listen in for Ron’s advice on improving your recall and learn his system of visualization to quickly memorize a list of words!
How Ron became the two-time National Memory Champion
Ron’s Afghanistan Memory Wall event
The benefits of a good memory
Ron’s advice around improving your memory
Ron’s system for memorization
Connect with Ron
Thu, 4 October 2018
When you know, you know.
Once Kyle Collins fell in love with multifamily as an asset class, he didn’t waste any time. In 9 months, he went from zero to 112 units and quit his job to pursue real estate investing full time.
Kyle is the Principal at Beechwood Holdings, a multifamily acquisition firm focused on stabilized, income-producing properties. Prior to founding Beechwood, he served as a sales rep for Martech Medical and the Director of Business Development for his family’s business, Five Rivers Conservation Group. Kyle earned a bachelor’s in finance from Georgia Southern and an MBA from Emory University.
Today, Kyle sits down with me to discuss his transition to full-time real estate investor, sharing the challenges he faced finding deals early on. He explains how to build a network of brokers and potential investors as well as what questions to ask to be taken seriously. Kyle also offers advice on leveraging an experienced property manager, raising capital and investing in your own deal. Listen in for insight around setting realistic expectations and learn how to divide your time among raising money, prospecting deals and running the operations of your portfolio!
Kyle’s background and education
Kyle’s transition to real estate
The challenges Kyle faced early on
Kyle’s advice around building a network
Kyle’s advice on being taken seriously
The questions to ask when you see a property
How Kyle leveraged his property management firm
Kyle’s guidance around raising capital
The importance of being excited about a deal
How to reconcile desire with prudence
Kyle’s first 112-unit deal
The value of a quality property manager
What’s next for Kyle
Kyle’s insight on the level of effort necessary
Kyle’s top tips for aspiring multifamily investors
Connect with Kyle
Tue, 2 October 2018
If you ask people at the end of their lives to reflect on their regrets, no one ever mentions money or work. Instead, their focus tends toward the relationships they neglected. So, when Ken McElroy realized he only had one shot at having a great rapport with his kids, he got serious about designing a life of balance that allows him to grow a successful real estate business AND be fully present with his family.
Ken has 20-plus years of experience in real estate investment analysis, property management, acquisitions and property development. Ken serves as an advisor to Robert Kiyosaki of The Rich Dad Company, and he is the author of the bestselling books The ABCs of Real Estate Investing, The ABCs of Property Management, and The Sleeping Giant. An advocate for entrepreneurs and real estate investors, Ken makes regular media appearances and speaks at top industry events all over the world. He is also the host of Entrepreneur magazine’s Real Estate Radio program.
Today, Ken joins me to share his insight around work-life balance, explaining why he takes time away to work ON the business and connect with his family. He describes how his definition of success has changed over time and how the decision to prioritize relationships translates to his business. Listen in to understand Ken’s take on limiting beliefs and learn how he approaches life with a commitment to being self-aware and fully present.
Why Ken spends 3 months in Idaho every summer
Ken’s insight on work-life balance
Ken’s transition from employment to entrepreneurship
Ken’s goals around financial freedom
How Ken’s definition of success has changed over time
Ken’s decision to focus on family and relationships
How Ken’s shift in priorities translates to his business
Why Ken sees BE as the most important aspect of Be-Do-Have
Ken’s take on limiting beliefs
How to work through limiting beliefs
What gets Ken out of bed in the morning
Ken’s view of spirituality
Connect with Ken
Awareness by Anthony DeMello
The Untethered Soul: The Journey Beyond Yourself by Michael A. Singer
The Power of Now: A Guide to Spiritual Enlightenment by Eckhart Tolle
Tue, 2 October 2018
“When you pay somebody that’s been where you want to go, you’re buying WISDOM without the WAIT.”
If you want to succeed as a multifamily real estate investor, your best bet is to take advantage of free resources for a basic education and then find someone you know, like and trust who is willing to mentor you—even if you have to pay for their time.
Larry Goins is a veteran real estate investor with 20-plus years of experience in the space. He travels the US speaking at conventions and expos, sharing his strategies for buying a dozen properties every month—without leaving his office! Larry is also the president of both Investors Rehab and The Goins Group, and he hosts the popular real estate podcasts BRAG Radio and Brain Pick-A-Pro. Larry is committed to holding true to his moral integrity in his business and personal life.
Today, Larry sits down with me to offer advice for aspiring investors around finding a mentor and ‘accelerating the splat’ when necessary. He shares his favorite real estate strategies and explains how he has systematized his business around seller financing and lease option models. Listen in to understand what motivates Larry to continued success in real estate and learn how he pays it forward by putting people and principles BEFORE profits!
How Larry got his start in real estate
Larry’s favorite real estate strategies
How Larry has systematized his business
Larry’s advice for aspiring investors
Larry’s concept of accelerating the splat
What motivates Larry to success in real estate
How Larry puts people and principles before profit
What gets Larry out of bed in the morning
Connect with Larry