Multifamily Missteps Hosted by Christy Keeton
Are you tired of the "rainbows and butterflies" approach in multifamily investing, where everything unfolds seamlessly, and everybody wins? You never see “behind the scenes” reality.
If you resonate with our perspective, acknowledging that true insights emerge from navigating mistakes and challenges, then you're in the right place.
Join Christy Keeton, your host, as she dives into the missteps and lessons learned encountered by active apartment operators.
In these episodes, we embark on a journey to dissect and analyze the pitfalls within the multifamily project life cycle, focusing on the crucial stages of Finding, Funding, Fixing, or Flipping a project.
Instead of glossing over setbacks, we shine a spotlight on them, providing a valuable learning experience for our audience. Each episode concludes not only by revealing how the issue at hand was rectified but also by sharing other priceless lessons derived from the experience.
It's an unfiltered exploration of the multifamily investment landscape, revealing the intricate tapestry of challenges and solutions that make the journey worthwhile.
Multifamily Missteps Hosted by Christy Keeton
No Sampling when Doing Due Diligence - Williams Edwards
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 Segment
- Williams Edwards on the W-2, the software systems, then to real estate
- When multifamily ticks all the boxes as a GP and a KP
[04:30 - 12:21] The Dangers of Overlooked Bandaid Fixes
- Going for a 37-unit instead of a 100-unit…why?
- The perks of operating with your own money
- When the maintenance only go for bandaid fixes without replacement
[12:22 - 21:44] Steps to Take for Better Positioning
- Undertaking the steps to vetting the property managers
- When the underwriting reveals too much expense allocation
- Considering loans, interest rates, and tax valuation for better positioning
[21:45 - 24:49] Closing Segment
- Do your best and follow your heart
- Final words
Tweetable Quotes:
“A lot of people who come into the space think, ‘Oh, it's gonna work from day one, like it's new, out of the box.’ And that's just not the case. ” - Jerome Myers
“You don't really know what you got out of the gate, you know? Just do your best job. Follow your heart.” - Williams Edwards
Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3
Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB
Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC
Go to rentometer.com to get a free 7-day trial and try it out for yourself.
Rentometer: your source for local rents, comps, trends, property details, and more.
Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.
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