When it seems like everything is going as planned, suddenly, you went way under budget for the renovation. That was the problem Chris Grenzig had to face in his deal. He shares the importance of surrounding yourself with people who know more than you and why you should always ask more questions and look for potential drawbacks to plan for contingencies. Listen as he shares this huge hurdle that was eventually turned around with a better plan and increasing rental growth. [00:01 - 06:28] Opening ...
Mar 29, 2022•22 min
We always hear about the importance of due diligence. Well, we can never say it enough as Ayal Joshua shares his real estate experience of a costly fix that shouldn’t have happened. He goes over the turn of events and the steps he had to undertake to make the property function without compromise and worked on lowering the cost. He emphasizes the value of going beyond what’s required and practicing caveat emptor: “Let the buyer beware.” [00:01 - 03:49] Opening Segment Ayal Joshua on getting into ...
Mar 22, 2022•19 min
You enter a deal and the underwriting reveals that there is too much expense allocation for the property topped with bandaid fixes to solve… What happens then? Williams Edwards shares this noteworthy experience that ended up with reduced expenses, replaced property management team, and even lower tax burden. He also highlights the value of consultancy for better tax benefits. Listen as he shares his story of starting from the ground up and now investing in 5000 units. [00:01 - 04:29] Opening Seg...
Mar 15, 2022•25 min
Dealing with various properties can be such an interesting journey where you’ll encounter issues you never thought would occur. For Justin Fraser, it was about environmental issues and because of this experience, the need to have contingency plans as you go through deals becomes all the more essential. When this happens, staying positive and practicing due diligence in the process can make all the difference. [00:01 - 05:24] Considering Exits and Doubling the Equity Justin Fraser on handling 670...
Mar 08, 2022•22 min
Cheaper is better, right? Well, when it comes to real estate services, that is usually not the case. In fact, the cost for you can even be higher in the long run. Arie van Gemeren highlighted this as he shares the journey of multiple missteps he encountered in his deals. He discusses the dangers of not being properly capitalized - imagine if a significant amount has to be escrowed by the bank a few days before the deal! Arie also stresses the need to understand code compliance for less stress in...
Mar 01, 2022•25 min
Let’s talk about tax - that three-letter word is daunting for many people, but when you are guided by a professional, it doesn’t have to be too intimidating. It’s truly discouraging not to acquire the expected income due to unanticipated deductions, so having a professional leading you can help limit this frustration. Larry Pendleton talks about his mission as a CPA – helping people achieve financial freedom through real estate and taxes. He highlights the need for real estate investors to creat...
Feb 22, 2022•24 min
Real estate investing can be crazy and scary. Things won’t always go as planned and Angel Williams’ story will get your heart racing knowing the ups and downs their team had to face just to get to the finish line. Sometimes, the members of an LLC had to be restructured and exits can happen for numerous reasons. The important thing is to keep the respect and strive for a clean transition to establish transparency. Angel also reminds us of the benefits of surrounding yourself with experts and the ...
Feb 15, 2022•26 min
Being a limited partner entails fewer responsibilities. However, what would you do if the GPs disappear when things go wrong? For Marc Weisi, he chose to grab the issues by the horns and save the day. In this episode, he emphasizes the significance of practicing due diligence and putting your head down to do the work to save a good deal. Listen as he shares his experience of going deeper into the ins and outs of managing a deal, the checklist when vetting sponsors, and the sacrifices he had to m...
Feb 08, 2022•26 min
Just the view of piles of papers can already be such an eyesore, but Rodney Thompson warns us of the potential repercussions if we don’t go through the documentation. Relying on others may be an option, but we have to remember that not everyone has your best interest in their mind and that at the end of the day, everything will be under your name, not theirs. [00:01 - 06:02] Opening Segment I welcome today’s guest, Rodney Thompson Planning to be financially ready for retirement Choosing to get u...
Feb 01, 2022•26 min
Looking at the numbers may seem like a daunting task, but as Beau Beery stressed in today’s episode, getting systems in place is essential. How do we make it easier? The answer is simple: technology. Without utilizing these tools, we might pass up some opportunities that could have been the way to success. By crunching the numbers effectively, we gear ourselves towards profitability. [00:01 - 06:01] Opening Segment Get to know today’s guest, Beau Beery Data scientist that figured out real estate...
Jan 25, 2022•36 min
We all have our reasons to get into the real estate space. For Nicole Pendergrass, it is achieving time freedom not just for herself, but for her mother. However, like any other business, there would be ebbs and flows we have to face. How frustrating is it to be at a disconnect with the people you think should be working with you? Listen as she breaks down the story of her missteps in the industry to save yourself from the heartache. [00:01 - 06:46] Opening Segment Welcoming today’s guest, Nicol...
Jan 18, 2022•26 min
Establishing solid systems conducive to scaling is the key to have for a successful business. Although it may be inevitable to hit some snags, what’s important is how we learn and become better along the way. In today’s episode, Ruben Greth tells us about how mindset matters in implementing systems and how taking actions out of integrity rises above everything. Who are you when nobody is looking? The answer to that will reflect how you are in work, family, and life, in general. [00:01 - 05:06] O...
Jan 11, 2022•21 min
We take great lengths just to get a great deal done, but perhaps looking into the aspects of the contract can bring us a better advantage throughout the process. Charles Seaman shares how having an extension built into the contract is advantageous although requires consideration of the cost. His story also tells us the importance of establishing good relationships for easier communication and transparency. [00:01 - 04:22] Opening Segment Charles Seaman on early involvement in Multifamily Investi...
Jan 04, 2022•21 min
On the surface, multifamily seems to just be creating living space for people where rentals are charged, aiming to get profit. However, adding more thought to the process itself by not only constructing a good space for living but dignifying the area makes all the difference. In today’s episode, Yusef Alexander talks about the significance of mindfully adding value to real estate projects and being wary of the imbalance - maybe the chase to appreciation is not done right. [00:01 - 04:52] Opening...
Dec 28, 2021•23 min
As entrepreneurs, we always look for ways to network. We go to events, send emails, and find out whatever ways to establish connection. However, do we utilize the free resources already available to us? Yonah Weiss tells how we may be overlooking this opportunity. Cyberspace is a tool to build our presence and if we position ourselves professionally, we can build a brand that would invite people to reach out to us instead of us needing to chase them. Capitalize this social landscape, be cognizan...
Dec 21, 2021•25 min
It’s natural to be a little bit too excited for a deal. Sure, one may know the ins and outs of managing deals, but actually being in the works, we might be overlooking the process. When this happens, conflicts and heartbreaks may strike. However, in today’s episode, Darryl Murphy Sr tells us that these setbacks should not discourage you. As he shares his story of his first deal and the turn of events, we can learn from the dangers of not vetting our partners, jumping the gun, and bouncing around...
Dec 14, 2021•20 min
Occupancy drops, economic downfall, and debt policies are the uncontrollable aspects of real estate investing yet one thing’s for certain: People will do what it takes to maintain a roof over their head. In today’s episode, Darin Batchelder talks about taking advantage of loan origination processes through trading, building more wealth in real estate as compared to the stock market, and dealing with the down economy while facing low occupancy. [00:01 - 04:53] Opening Segment Get to know Darin Ba...
Nov 30, 2021•27 min
As simple as it seems, being honest is truly key in establishing credibility and promoting healthy relationships in all aspects. Yet this idea is still overlooked with the fear of discomfort. Amy Sylvis tells us her real estate journey from taking a decade to finally break into the industry, facing devastating missteps, and suddenly having to deal with a wheelchair bound resident. This talk resonates with the concept of showing up with integrity despite the circumstances. [00:01 - 03:46] Opening...
Nov 23, 2021•21 min
I had the pleasure of speaking with a research architect at the US Army Corps of Engineers , Samuel Stidwell IV. Let’s jump into Sam’s story that failures are part of the process, and it’s a stepping stone for you to learn and be better than you from yesterday. Things you will learn in this episode: [00:01 – 04:37] Opening Segment Sam talks about his background and how his journey began His father was in the real estate industry Majored in Architectural Engineering Just started in real estate re...
Nov 23, 2021•20 min
Closing deals and finally starting your multifamily journey are milestones worthy of celebration especially when at the initial stages, but that does not mean that everyone in your side is practicing due diligence and just consideration with their roles and limitations. Dr. Erin Hudson reveals her story and reminds us of the dangers of entitlement confusion and not recognizing the red flags early on. Despite these, also witness how she moved forward from this expensive and crippling mistake that...
Nov 16, 2021•25 min
Today I had the pleasure of speaking with the Founder and CEO of Barratt Asset Management , Ivan Barratt. Let’s dive into Ivan’s story of how to scale your business to get the highest Return Of Investment Things you will learn in this episode: [00:01 - 05:36] Opening Segment Ivan talks about the protests happening in the mids of COVID-19 racism Connect with Ivan +317.762.2625 or see below for the links [05:37 - 14:02] Evaluate First Your Potential Partners Ivan talks about his background and his...
Nov 12, 2021•27 min
The best solution is creatively finding alternative solutions work best for solving the problem. A Donahue Baker gives tips on finding funding as a real estate developer and developing new ways of closing the deal. He talks about leveraging his network, finding alternative means for funding, and understanding business credit. A Donahue Baker is a CPA by trade but is currently a Real Estate Developer. Join A Donahue Baker as he delves into his missteps as a real estate developer, and creatively c...
Nov 09, 2021•29 min•Ep. 8
Many people think that the safest and the best way to keep their money is using conventional financial instruments everyone is familiar with, however, in today’s episode, Damion Lupo argues otherwise. Just because it looks safe and convenient does not mean it’s suitable or beneficial for you. In fact, maybe Wall Street is already preparing your rabbit hole of overwhelming tax. Keep your ears open and watch out for the call to action you might implement in handling your money more wisely. [00:01 ...
Nov 02, 2021•24 min
Kenny Wolfe joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps with coordinating move outs to lift a building. We learn why he decided to bring property management in house and how to buy across the country. Kenny shares how he jumped into multifamily by doing two passive deals and then syndicated a 76 unit. We hear about a 2 bedroom unit with 16 mattresses in it and the pain of finding sewer breaks. Kenny believes that there isn't much dif...
Nov 01, 2021•28 min•Ep. 7
Facing unsuccessful deals and going through lots of issues dealing with losses along the way inexorably brings doubts not only to yourself, but also to the partners. In reality, these scenarios are part of the cycle of a business and it is just the matter of how you position yourself despite these challenges. In today’s episode, Mauricio Roque reveals his stories of missteps especially in his first deals with both controllable and uncontrollable factors, how he managed to pivot and rise through ...
Oct 26, 2021•21 min
Attracting partners willing to invest in deals with you is always an issue in the real estate industry. There are so many different tactics being forwarded and various principles to apply. In today’s episode, Vinki Loomba reveals how exactly she does this by showing her authentic self. From this approach, she shares the strategy of positioning yourself in a place of fulfillment, offering opportunities instead of going after a chase, and the rationale behind coming in on the beginning of a raise....
Oct 19, 2021•20 min
Bruce Wuollet joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss Bakerson's missteps on properties in Arizona. We learn the risk associated with properties that have chiller systems. Bruce shares how they negotiated a $250,000 credit and how a strong economy made up for some of their challenges. He also takes us through a discussion on the "valley of death" which is when you are writing checks to pay your mortgage and other obligations associa...
Oct 19, 2021•22 min•Ep. 2
There are aspects in real estate investing that people overlook and that involve the inclusion of insurance, assignment of benefits, and other easily missed potential additional revenue streams. With the many controllable and uncontrollable factors influencing the industry, especially these crucial times, it is beneficial to utilize risk assessment yet, as Johnny Lynum points out, we must also take action. [00:01 - 05:14] Opening Segment I welcome today’s guest, Johnny Lynum How his entrepreneur...
Oct 12, 2021•24 min
The initial thought of people whenever a new property is acquired is a celebratory greeting. Although this sounds proper, John Casmon begs to disagree especially when it comes to market positioning. Also, in this episode, he talks about more tips in attracting high net worth individuals, experiencing imposter syndrome, and shifting our focus to giving value. So, why did John Casmon have this thought? Let’s listen to his story. [00:01 - 05:13] Opening Segment I welcome today’s guest, John Casmon ...
Oct 05, 2021•26 min
It goes without saying that in the real estate business, we must know how to work with people all the while determining who to work with. Trusting one company to do the works may seem to be the safest way to go, however, Cary Love points out that we must consider the possibility of inconsistent quality of services rendered, the dangers of sob stories of contractors just to flesh in more cash, and how the contact person may vanish, leaving you hanging. In this episode, Cary talks about the horror...
Sep 28, 2021•25 min
