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 pain and being forced into entrepreneurship
• Progressing the business and educating people
• Riding the roller coaster of real estate

[04:42 - 19:01] Understand Who Controls the Money

• The one who controls the money wins
• The effects of high inflation and current events
• Being solid in predictions than someone who is just starting out
• Staying in the trenches and never giving up

[19:02 - 24:04] Be Careful of Whom You Trust

• The harsh truth when you are taken advantage of
• Creating a flow chart to make it easier for potential investors
• Advice on verifying information before taking any action

[24:05 - 25:53] Closing Segment

• Never give up
• Final words

Tweetable Quotes:

“He who controls the money wins his race” - Dave Seymour

“Never give up, never lay down, never surrender trust, but verify.” - Dave Seymour

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

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 buyers and renters
• How the economy in Phoenix has been growing rapidly
• The aim to mitigate risk and make money for investors

[05:41 - 16:12] Transparency is Always Key

• Broker relationships to move quickly and efficiently in the private capital market
• Independently analyzing deals and owning a property management company
• Gaining trust despite a lack of track record -  transparency is key
• Tactics to employ for saving money on renovations through system integration

[16:13 - 25:44] Addressing the Barriers to Get Started

• Fear as a limiting factor in the ability to invest in day trading stocks
• How relationships can be more valuable than money
• Opt for your own financing if possible for a lower interest rate on a purchase
• You don’t need a perfect partner - do the work and put in the effort

[25:45 - 27:24] Closing Segment

• Keep the fortitude so you won’t have to turn back
• Final words

Tweetable Quotes:

“The important thing in the situation for me is just being transparent with the investors and just letting them know along the way, hey, this is what's going on.” - Justin Britto

“Don't wait. You don't need to have the perfect team in place. You don't need to have the perfect partner in place to get started. It's just put in the action, put the footwork in, and do your due diligence research, and you'll figure stuff out along the way.” - Justin Britto

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

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 Cyclical Nature of the Economy

• Bad capital structures and deals cause huge loss
• Why taking out the finance to sell during a recession is a bad idea
• Ben’s thoughts on the current state of the economy

[17:32 - 21:44] Be Aware of the Capital Structures

• The need to be mindful of inflation when doing deals
• How the current economy is affecting the business of real estate
• Adjusting the budget arises from economical trends

[23:46 - 25:18] Closing Segment

• Be careful not to lock in a loss
• Final words

Tweetable Quotes:

“Inflation - it kind of cures all ills in a lot of senses, but it only cures them if you can hold on to the asset through the challenges.” - Ben Fraser

“Watch out for the greater fool strategy, which is ‘I'm just going to do this plan and hope that the next person is willing to pay what I just paid for this and I can manage through it.’ ” - Ben Fraser

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

What makes the real estate industry attractive is how you can attain a huge cash flow passively. However, is that the truth or is there something more? In today's episode, Axel Ragnarsson discloses his story and reminds us of the due diligence to establish when assessing deals, the ramifications of not working with key persons in transactions, and the dangers of complacency and how it can put you in a tough spot.

[00:01 - 04:49] Opening Segment 

• Get to know today's guest, Axel Ragnarsson
• He shares his podcasting and real estate journey
• Missing out on the best deal because of his job

[04:50 - 13:31] Pulling the Lever on Equity, Not Just Cashflow

• The danger of not understanding the construction side of the business
• Cost basis approach: Why this is important
• More than cashflow and passive income

[13:32 - 22:45] Complacency Puts You in a Tough Spot

• Axel shares the challenges in his first few deals on refinancing
• The financial ramifications of not having a broker
• Good deals no longer growing from trees

[22:46 - 24:20] Closing Segment

• Check out Axel’s podcast and reach out to him!
• Final words

Tweetable Quotes:

“You learn a ton of stuff as you grow. Right? I think we all obviously do. And there's so many things you'll learn. ” - Axel Ragnarsson

“Real estate's a game where we all get into it for cash flow and passive income. And I think that's what entices a lot of people to or brings a lot of people to real estate, but you really make money by growing the equity and growing the value of a property or, you know, buying something below market taking your cash out buying something else.” - Axel Ragnarsson

“I think that we're at this point in the business where good deals, they're not just growing on trees, right? It's not like it's easy to go out there and, and get a good deal. So you really got to maximize what you have, like in front of you.” - Axel Ragnarsson 

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

It is perfectly normal for some people to leave you and come into your life. In real estate, however, it should not be. When the people leaving your properties are more than those who come in, you should realize there’s a problem, and you need to pinpoint and address that problem fast. Luckily for Sonya Rocvil, she realized that there’s something wrong with their property and they were able to address it. 

[00:01 - 03:07] Opening Segment 

• I welcome today’s guest, Sonya Rocvil 
• Connect with Sonya
  • Links below

[03:08 - 13:46] More People Moving Out Than Moving In 

• How she landed in the real estate space 
• Why their occupancy rates were not going up
  • What she learned about this misstep

[13:47 - 23:02 Digging Deep into The Issues 

• Learn how to leverage bridge loans 
• The question you should ask in closing a deal 
• What changed in their process to make sure the misstep will not happen again

[23:03 - 25:54] Closing Segment

• Don’t miss these words of wisdom from Sonya! 
• Final words

Tweetable Quotes:

“You still have to be diligent and you’re screening [potential tenants].” - Sonya Rocvil

“You have to be willing to really dig deep sometimes to find out the issues.” - Sonya Rocvil

You can connect with Sonya by emailing sonya@bedrockreinvestors.com or get in touch with her on LinkedIn. Check out Bedrock Real Estate Investors to acquire multifamily properties with potential economic growth and opportunities. 

• 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