Apartment Building Investing with Michael Blank Podcast

Why are there so few women in multifamily syndication? According to a 2019 study conducted by Merrill Lynch, 61% of women polled cited a lack of knowledge about real estate investing. And the fact that it’s a male-dominated industry is also a contributing factor. So, how do we get more women interested in learning about multifamily—and the financial independence that comes with it?

Kaylee McMahon is the Founder of The Apartment Queen, a platform dedicated to ending abuse and codependent relationships by helping women create wealth with real estate investing. A staple of the Dallas real estate scene, Kaylee has purchased $2M in real estate as Key Principal and currently serves as General Partner in 730 units in Texas and Arizona totaling more than $23M in assets under management. She is also the host of #1 Leading Ladies, a podcast about what it’s really like to be a female entrepreneur.

On this episode, Kaylee joins me to share her path from real estate agent to multifamily investor, discussing how the childhood abuse she suffered gave her the GRIT to keep going when things get tough. She offers her take on how a lack of knowledge around a male-dominated industry keeps a lot of women out of the multifamily game, describing her mission to help people, especially women, achieve the total independence she enjoys. Listen in for Kaylee’s insight on reversing the beliefs that hold you back and get her advice on how to get started with apartment building investing!

Key Takeaways

Kaylee’s path to multifamily real estate

  • Got start as agent, apartment locator
  • Move on to house flips + SFH rentals
  • Got into apartments ‘to add zero’

What makes Kaylee a good entrepreneur

  • Autonomous (make decisions on own)
  • Fast learner, good with people

Why Kaylee made the transition from agent to investor

  • All-in on decision to achieve financial freedom
  • Not afraid of losing it all, could always bartend

Kaylee’s take on the idea of failure

  • Take lessons learned with you to next venture
  • Pivot as necessary (e.g.: rent flip vs. sell)

Why Kaylee deals with fear better than others

  • Abuse in childhood built tremendous amount of GRIT
  • Driven by WHY to help others create independence

Kaylee’s experience with multifamily syndication

  • Did first 2 deals on own with help of mentor
  • Started partnering with others (raising capital)
  • General Partner in 730 units to date

Kaylee’s take on why there are so few women in multifamily

  • Lack of knowledge, limiting beliefs
  • Male-dominated industry (Good Old Boys Club)

Kaylee’s advice for aspiring multifamily investors

  • Learn underwriting, how to vet sponsors and market
  • Invest passively but ride along with GP to learn

Connect with Kaylee McMahon

The Apartment Queen

The Apartment Queen on Instagram

The Apartment Queen on Facebook

Kaylee on Facebook

#1 Leading Ladies Podcast

Email admin@theapartmentqueen.com

Resources

Deal Maker Live

What’s the Best Investment: The Stock Market or Real Estate?

Join the Nighthawk Equity Investor Club

Merrill Lynch 2019 Wealth Decisions Study

Rich Dad Poor Dad by Robert T. Kiyosaki

Scaling Up: How a Few Companies Make It … and Why the Rest Don’t by Verne Harnish

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Direct download: ABI_215_v2.mp3
Category:Commercial Real Estate -- posted at: 1:00am EDT

No good comes from making decisions out of panic or fear. So, what can multifamily syndicators do to navigate the next couple of months and cover the bills—even if our tenants can’t (or won’t) pay the rent on time? How can we reassure our investors that their money is safe and leverage the available safeguards to make it through the Coronavirus shutdown?

Jason Pero is the multifamily investor and syndicator behind Pero Real Estate, one of the leading real estate firms in Erie, Pennsylvania. Jason and his wife bought their first duplex in 2001 and continued to invest in small multifamily properties while he worked full-time in medical device sales. By 2012, Jason had built a 300-unit portfolio and was able to leave his 9-to-5 to pursue real estate full-time. He started syndicating deals in 2018, and today, Jason owns and self-manages 1K units in Erie County.

On this episode of the podcast, Jason joins me to discuss why he waited so long to get into syndication and why he self-manages his own portfolio. Jason explains how he is navigating the COVID-19 crisis, sharing the safeguards he has in place to get through the next few months and describing his approach to the situation as both a property manager and syndicator. Listen in for Jason’s insight on the buying opportunities coming on the market right now and find out why this is a good time to invest in yourself!

Key Takeaways

What inspired Jason to get into real estate

  • Internship with financial planning company
  • School teachers worth $5M (passive income from real estate)

Why it took Jason so long to take action on syndication

  • Limiting belief around loss of control
  • Realized could still call shots and serve more people

How the Coronavirus crisis elevates Jason’s mission

  • Watched stock market investors’ net worth plummet by 40%
  • Real estate provides predictable long-term investment

The safeguards that are helping Jason navigate COVID-19

  1. Withhold distributions to see how next months play out
  2. Can still pay bills with 30% economic vacancy
  3. Go to forbearance only as last resort

Jason’s take on the impact of the Coronavirus as a syndicator

  • Lenders still bullish, agency debt still in play
  • Social distancing poses challenges to due diligence

Jason’s approach to the Coronavirus as a property manager

  • Extend olive branch to good tenants
  • Waive late fees, work out payment plan

The buying opportunities coming available right now

  • Sellers more flexible with due diligence
  • Willing to consider financing contingencies

What makes Jason successful in a rural area

  • Greater metro area of Erie = 350K people
  • Large influx of outside $ (Buffalo, Cleveland and Pittsburgh)
  • Decision to self-manage properties

Why Jason self-manages his own portfolio

  • Didn’t know any different in beginning
  • Track record through economic upheaval reassures investors

Jason’s advice on navigating a difficult time

  • Don’t freak out, look at situation from practical standpoint
  • Research options (e.g.: SBA programs)
  • Communicate with investors + don’t run out of cash

Jason’s advice for aspiring multifamily investors

  • Find mentor or coach who’s been where want to go
  • Keep learning and stay humble

Connect with Jason Pero

Pero Real Estate

Jason on Calendly

Jason on LinkedIn

Jason on Facebook

Email jasonpero@yahoo.com

Resources

Register for Deal Maker Live

Join Michael’s Deal Maker Mastermind

Read Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate?

Join the Nighthawk Equity Investor Club

Join Michael’s Mentoring Program

Rich Dad Poor Dad by Robert T. Kiyosaki

The Millionaire Next Door by Thomas J. Stanley and William D. Danko

SBA Programs for Coronavirus Relief

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Direct download: ABI_214.mp3
Category:Commercial Real Estate -- posted at: 1:00am EDT

What are you doing to keep your mindset right during the Coronavirus shutdown? Are you making the most of the extra time at home? Taking advantage of the opportunity to invest in yourself and learn something new? Taking care of yourself, your family, your team, your investors and your tenants?

Vinney Chopra is a sought-after multifamily real estate expert with 12 years of experience and 28 successful syndications under his belt. To date, Vinney and his team of 67 control and self-manage a portfolio of 4,100 units worth $330M. He is also the bestselling author of Apartment Syndication Made Easy and the host of two podcasts, Syndication Made Easy and the Mr. Smiles Motivation Talk Show. Vinney came to the US 43 years ago with just $7 in his pocket, and he credits his success to the power of positive thinking.

On this episode of Apartment Building Investing, Vinney joins me to discuss how his team is dealing with the short-term impact of COVID-19 and what they are doing to support tenants in his properties. Vinny compares his experience in 2008 to the present circumstances, discussing why multifamily is the best business to be in during a recession and sharing his prediction for a V-shaped recovery. Listen in for Vinney’s insight on cultivating a positive outlook and taking care of your physical and mental health through the current crisis.

Key Takeaways

How Vinny’s team is dealing with the short-term impact of COVID-19

  • Community managers + leasing agents helping people remotely
  • Keep mind right, remember that this will pass

How Vinny’s experience in 2008 compares to the current situation

  • Little money or experience in 2008, start with just 14 units
  • 4,100-unit portfolio today (cash rich and optimistic)

What Vinny’s team is doing to support the tenants in his properties

  • Talk to banks, utility companies and authorities for reprieve
  • Look for creative ways to help tenants (e.g.: prorate rent)
  • Educate residents on available government programs

Vinny’s take on how the stock market drop will impact multifamily

  • Properties currently on market will decrease in value
  • Lending tough right now, look to individual investors

How a V-shaped recovery is likely to play out

  • Short-term cashflow problem resolved in next few months
  • Temporary dip in NOI, use cash reserves to get through

How Vinny thinks about buying opportunities in multifamily

  • Change in seller behavior likely to shake loose good deals
  • Investors who lost $ in stock market looking for better asset

What Vinny is doing to keep his mindset right

  • Dress up for day and do morning routine as before
  • Make best of time with family, virtual meetups with friends
  • Focus on spirituality, mental and physical health

What’s most important to Vinny right now

  • Health of family, team and fellow citizens
  • Giving back to people in need

Vinny’s advice on making the most of the extra time we have

  • Hone in on skills
  • Build investor list

How Vinny cultivates a positive outlook

  • Feed mind with positivity, make lemonade out of lemons
  • God gives us trying times to grow our inner strength

Connect with Vinney Chopra

Vinney’s Website

Vinney on Facebook

Apartment Syndication Made Easy by Vinney Chopra

Syndication Made Easy Podcast

Mr. Smiles Motivation Talk Show

Text LEARN to 474747

Resources

Register for Deal Maker Live

Read Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate?

Join Michael’s Deal Maker Mastermind

Join the Nighthawk Equity Investor Club

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Direct download: ABI_213.mp3
Category:Commercial Real Estate -- posted at: 1:00am EDT

So, you understand the power of digital marketing to help you scale your multifamily syndication business. The question is, where do you start? What are the first steps to building an email list and attracting investors online?

Amy Porterfield is the award-winning digital marketing expert behind Online Marketing Made Easy and the creator of the Digital Course Academy. After seven years serving as the Director of Content Development for Tony Robbins, Amy became an entrepreneur herself and built a multimillion-dollar business teaching other people how to grow their own platform online. An authority in the realm of social media marketing, growing an email list and promoting and selling courses online, Amy is also the coauthor of Facebook Marketing All-in-One for Dummies.

On this episode of Apartment Building Investing, Amy joins me to explain why you need to build an email list, even if you have a strong social media following. She shares the simple steps you can take to attract investors with content and capture their email addresses with the right lead magnet. Listen in for Amy’s insight on using Facebook advertising to grow your audience and learn how to leverage digital marketing to scale your syndication business!

Key Takeaways

How Amy got into online marketing

  • Started career in corporate marketing (Harley Davidson, Tony Robbins)
  • Became own boss 11 years ago teaching how to grow online business

The mistakes Amy made early on as an online entrepreneur

  • Didn’t have expertise in niche
  • Didn’t have email list

How Amy decided what to create and who to serve

  • Got clear on expertise (social media, Facebook marketing)
  • Created very specific client avatar

Why an email list is better than social media followers

  • Algorithms change, you don’t own social platforms
  • You own email list + can use to build relationships

How to start building an email list from scratch

  1. Create content on consistent basis
  2. Create irresistible lead magnet (freebie in exchange for email)

How to choose your lead magnet

  • Must serve as INVISIBLE BRIDGE for audience
  • What avatar needs to know, understand or believe

How to get people to sign up for your email list

  • Use content upgrade strategy (if you loved…)
  • Make CTA on social posts, bios, podcasts and blogs

What to do if you don’t consider yourself a writer

  • Commit to one medium (e.g.: podcast or video)
  • Don’t try to be perfect, just show up consistently

The benefits of podcasting as a medium

  • Easier than writing or video, keep attention longer
  • Podcast platforms promote content for you

Amy’s advice on Facebook advertising

  • Keep it simple, start with boosting post
  • Upload email list to target ‘lookalike audience’
  • Do it yourself before you hire someone else

Amy’s top tips for online marketing

  • Start with mindset (i.e.: set small goal of 250 on list)
  • Simplicity is your friend

Connect with Amy Porterfield

Amy’s Website

Amy’s Free Masterclass: How to Start and Grow an Email List (Without the Stress, Tech Confusion, or Crazy Overwhelm

Marketing Made Easy Podcast

Resources

Watch the Replay of Michael’s Platform Builder Framework Webinar

Schedule a Call to Learn More About Michael’s Platform Builder Workshop

Facebook Marketing All-in-One for Dummies by Amy Porterfield, Phyllis Khare and Andrea Vahl

ActiveCampaign

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Direct download: ABI_212.mp3
Category:Commercial Real Estate -- posted at: 1:00am EDT

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