Multifamily Missteps Hosted by Jerome Myers
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Are you tired of the "happily ever after" style multifamily podcasts where everything goes to plan? If you are like us, you know that you learn more from mistakes and missteps than when the plan goes smooth. Join your host Jerome Myers, as he digs into the missteps of active apartment operators. In these 30 minutes or fewer episodes, follow along as we find and analyze the blunders in one of..
Multifamily Missteps Hosted by Jerome Myers
1y ago
Aiming for a huge target is not at all bad, but the harsh reality should also be considered. In this episode, we feature Matthew Drouin and his story of doing a deal that entails facing problematic neighborhoods and people down on their luck. He talks about his experience of regret looking upon himself as a hero and brings the invaluable lessons he learned from it.
[00:00 - 08:51] When the Harsh Truth Slaps, We Go Back to What Matters
Back into real estate by accident as a residential agent
The struggles of being poor in an affluent neighborhood
Witnessing his parents die young without ..read more
Multifamily Missteps Hosted by Jerome Myers
1y ago
Holding your money too tightly to invest for inspection would be a big mistake. Michael Sampson notes that it's important to work with a good real estate broker and have professional inspections done on your properties to make sure they're in good condition. He also advises patience when growing a real estate portfolio, as successes can take time to build.
[00:00 - 07:13] Lessons Learned from Multifamily Investing
Spend money upfront for inspection
Do your research and work with a good real estate broker
Have an exit plan in place if things go wrong
[07:14 - 10:37] Multifamily Operato ..read more
Multifamily Missteps Hosted by Jerome Myers
1y ago
How much do we know about the property before we make a deal? In this episode, Tommy Brant addresses the importance of financial due diligence and how knowing the owners is just as essential as knowing the assets. Tommy also shares how taking the lead on the deal helped create value for him and his partners.
[00:01 - 17:18] The Deal that Eluded Me
Tommy shares how he got his start in real estate
Forming a team with the broker's contact
Finding problems during financial due diligence
[17:19 -19:44 ] How to Avoid Mistakes During Financial Due Diligence
Understand the previo ..read more
Multifamily Missteps Hosted by Jerome Myers
1y ago
Planning to get the deal requires consideration of a strategic exit too. In this episode, Sam Wilson talks about his investment and exit strategies, avoiding mistakes in the future, and how important it is to make sure that there are out clauses in contracts in order to protect oneself. Listen closely as Sam provides listeners with valuable advice on how to make life count by doing the things that don't always count.
[00:01 - 13:36] How to Secure a Contractual Agreement with Sellers
Have reasons for walking away from a deal, even if it's difficult
Sam discusses his background in the re ..read more
Multifamily Missteps Hosted by Jerome Myers
2y ago
Is it possible to generate passive income while on active duty? Of course! Listen in as Tim Kelly and Jerome Myers emphasize the importance of education and networking to becoming successful in real estate investing. In this episode, Tim explains how to create a community of like-minded individuals in order to leverage relationships and access opportunities. Tune in as he shares stories of his own successes and failures. This is a signal for you to take the necessary steps to achieve your own goals.
[00:01 - 10:23] Creating Financial Freedom on the Way to Success
The importance of educ ..read more
Multifamily Missteps Hosted by Jerome Myers
2y ago
Many people can get involved as you start your real estate journey, so how do we make sure that the people we have are worthy of our trust? Verifying information and clear communication are keys. In today’s episode, Jerome Myers interviews Dave Seymour, who has a background as a firefighter turned into a real estate investor. Listen as he shares his struggles with the consequences of the downturn in the market. They discuss how property values can go down, even in good times, and how this affects their decision-making.
[00:01 - 04:41] Opening Segment
Suffering financial pai ..read more
Multifamily Missteps Hosted by Jerome Myers
2y ago
Wisdom comes from experience and learning from mistakes. Perhaps for those starting in multifamily investing, being a bit more conservative at first and taking calculated risks is the way. Do not take for granted the relationships you are developing along the way as this may turn out to be more valuable than what you are earning. My guest, Justin Britto, talks about how he became an investor, what mistakes he has made in the past, and how he has learned from them. He also shares advice for aspiring investors.
[00:01 - 05:40] Opening Segment
Observing a lot of demand coming in from both ..read more
Multifamily Missteps Hosted by Jerome Myers
2y ago
Do you have an exit strategy? A lot of risks go into your investment if you do have one. In today’s episode, my guest, Ben Fraser, discusses the implications of ensuring assets worth more in the future and being able to protect the investment at the same time. Listen closely as he talks about the dangers of over-leveraging in the current market environment and how to avoid getting trapped in a cycle of debt.
[00:01 - 05:26] Opening Segment
Ben Fraser on the managing real estate turbulence
Figuring out deals that make sense in the current market
[05:27 - 17:31] Understand the Cyclica ..read more
Multifamily Missteps Hosted by Jerome Myers
2y ago
When the property turns out to be way too problematic to handle, it is easier to give up on it. So, should we do it? Alex Moore argues otherwise, saying that as long as you have multiple plans in place, it is even harder not to be successful in real estate investing. Also, she leaves a valuable tip for any investor to avoid huge headaches and uncover deeper issues - touring the property at night - and there are good reasons for that.
[00:01 - 04:23] Opening Segment
Alex Moore on being a nurse practitioner for ten years and doing multifamily
Good lessons from small multifamily investin ..read more
Multifamily Missteps Hosted by Jerome Myers
2y ago
Are you putting your opportunity fund in the right places? Although it is common to think that simply putting your money in the bank account is ideal because it is safe and risk-free, clearly, it is not the way to supercharge your investment. As Rod Zabriskie and Blake Brogan stated, we should consider playing around with the idea of compound interest and get the money working for us. Listen as they discuss the ways to be smart with how you store your opportunity fund.
[00:01 - 06:41] Opening Segment
Rod Zabriskie and Blake Brogan on the investment optimizer strategy
A better way to ..read more