Real estate investment coach Edna Keep joins True Multifamily to talk about the value of working with a coach as well as how she ended up with 50 doors in 18 months and an $800,000 net worth increase in the books after signing up for a year-long mentorship with Robert Kiyosaki. As the creator of the 90 Days to 5K Mastermind Program, Edna empowers real people to build real wealth, buy their next property, and scale their businesses. Edna gave up a $250k income as a financial advisor to do this full-time so she can be by your side to show you how to do the same thing, every step of the way. Today, Edna shares the strategy behind the program and some inspiring success stories from the people she worked with. Here are some power takeaways from today’s conversation: How she got from single family into the multifamily space The power of working with a coach Why you need to have a system in place Seeing challenges and opportunities in different markets How she’s organizing things through her managing partners Getting to the right mindset Episode Highlights: The Power of Working with a Coach and Following a System Having a coach helps you get past a lot of your fears, especially when it relates to money and the things that could go wrong.  Having somebody to hold your hand and walk you through that process is very powerful. There are lots of resources out there – Facebook Lives, books, and mini-courses – and you can use any of those. But if you don't have a system to follow, you're going to be all over the map and you won’t get anything done. In the same way that there are so many ways to invest in real estate. But you have to pick one way, master it, and then learn all kinds of things from there. Otherwise, if you're all over the map, you're never going to get anywhere. Getting to the Right Mindset We've got to have a mindset that we just have to get through those challenges to get to the opportunity. Where people fall down is thinking, anywhere in life, that they're not going to have challenges. But there's going to be more challenges the more we grow and the bigger we get. We need to grow mentally to be able to handle challenges and come out as a winner on the other side. And if you haven't had any challenges, you're not even growing as a person. Hence, challenges are put in front of us so that we can grow and get better. As Jim Rohn says, "Don't wish for less challenges, just wish you were better to handle them." Resources Mentioned: www.ednakeep.com

True Multifamily

Episode 92: Edna Keep tripled her income after a year-long mentorship with Robert Kiyosaki!

All the way from the UK, Michael Barnhart and Suzy Sevier of Adventurous Real Estate Investors join True Multifamily to share their impressive feat of multifamily investing and networking with no multifamily experience while living abroad. They shared their inspiration in making the leap to multifamily investing when they read the book “Multiple Streams of Income” by Robert Allen and how they positioned themselves as credible overseas investors, from finding a market to finding their mentor. Michael and Suzy stress the importance of building strong and organic relationships when finding the right properties. They also mentioned their experience building credibility with the brokers online. They share their tips, systems, and tools on how to actively invest when you’re geographically separated. In addition to that, they experienced a water leak with a problematic tenant and shared how dealt with that specific situation. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Michael Barnhart & Suzy Sevier: Website Facebook Instagram Michael's LinkedIn Suzy's LinkedIn YouTube Podcast

E91: Michael Barnhart & Suzy Sevier - They started multifamily investing while living abroad during COVID!

Omar Khan, Managing Principal and Founder of Boardwalk Wealth, joins True Multifamily to talk about his process on syndicating a multifamily property. He shares the importance of being consistent in communicating and using the necessary tools, especially when maintaining a B+ property. He also mentions that a third-party property management company should hire competent and consistent people onsite, emphasizing that the last link in the chain should still be extremely strong. Omar also shares his experience firing a toxic and incompetent property manager. He stressed the unprofessional patterns of the property manager and how it's never a good look at how the property will improve. Eventually, they changed property managers, hiring someone competent who has a reasonable disposition and was organized. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Omar Khan: Website Facebook LinkedIn YouTube

E90: Omar Khan - He fired an unprofessional property manager to improve customer relations!

Chris Roberts of Sterling Rhino Capital joins True Multifamily to share an interesting but challenging experience when he dealt with a direct seller who isn’t the main decision-maker with poor knowledge of the deal. On this specific deal, he deals with a 112-unit off-market deal with manual records with a $5.2M asking price. After 11 months of negotiations, his team got it down to $3.875M, but not without all the issues and challenges. He built the manual records by reverse engineering to get the actual numbers and built an ironclad contract with a bad debt clause. Chris also shares how having enough cash reserves definitely helps you get out of trouble and shares the current challenges he faced when finding the right contractors during the pandemic. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Chris Roberts: Website Facebook Instagram LinkedIn YouTube

E89: Chris Roberts - He manually sifted through the seller's records to buy 112 units off market!

In this episode, Seth Teagle of The Stream Group joins True Multifamily to talk about buying his first multifamily property, a 50-unit in Columbus, Ohio. He gets real with his experience and shares the first-time mistakes he made and all the growing pains of owning his first multifamily property. He shares tips on how to build the initial credibility without prior multifamily experience and what to do when a management company doesn’t deliver. Seth also talks about vertically integrating his company and how the approach enabled him to scale up and reduce costs while building meaningful relationships in the process. He goes into detail on the advantages of vertical integration, especially on the management aspect of owning a multifamily property. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Seth Teagle: seth@thestreamgroups.com Website Facebook LinkedIn

E88: Seth Teagle - He bought his first 50-unit with no prior multifamily experience!

In this episode, Lisa Hylton of The Level Up REI Podcast joins True Multifamily to talk about how to build wealth through passive real estate investing. She goes into the details from networking to generating passive income. She specifies the importance of communication and transparency, especially when deals get in trouble, eventually evaluating the health of the deal and discussing the numbers with the investors as soon as possible. Lisa also gives tips on how to look for the right deal to invest in. She mentions that healthy cashflow and appreciation definitely takes the cake when you’re investing hard-earned money through passive real estate investing with the right people. She also wrote the Investing Passively in Real Estate Funds eBook for anyone who wants to learn more about the whole process from a passive perspective. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Lisa Hylton: Website Facebook Twitter Instagram LinkedIn YouTube Podcast

E87: Lisa Hylton - She helps beginners invest passively in real estate!

In this episode, Kent Ritter of the Ritter on Real Estate podcast joins True Multifamily to share how he plans to deconvert his 110-unit with half studios and half two bedrooms into all studios. After getting a better understanding of the market and seeing the demand, he realized that converting the whole property to all studios will drive up revenue and really add more value to his tenants and investors. Kent also shares the difference between an asset manager and a property manager. He goes into detail into the key performance indicators he focuses on and the technology they are using to improve the lives of their residents and staff. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Kent Ritter: Website Facebook Twitter Instagram LinkedIn

E86: Kent Ritter - He split units in half for a 45% rent increase!

Scott Meyers, Founder of Kingdom Storage Partners, joins True Multifamily to share the benefits of investing in self-storage. He compares how multifamily is similar to self-storage minus the usual hassles of tenant management, toilets, and trash. With self-storage, Scott found a simpler, more predictable, and more manageable business model that works in a recession. He also shares that value add is the name of the game when it comes to self-storage investing, looking at how they can position themselves in a strong market while making it very accessible and easy for customers. Also, he shares his marketing tips, from building a crisp and clean website to innovating with accessible 24/7 kiosks. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Scott Meyers: Website Facebook Twitter Instagram LinkedIn

E85: Scott Meyers - He eliminated the hassles of tenants, toilets, and trash with self-storage!

In this special and timely episode, Justin Fraser of True Multifamily speaks to various operators about the current situation of the eviction moratorium. He speaks to Alex Felice of Alexandria Capital, Jerome Myers of Myers Development Group, Kyle Mitchell of APT Capital Group, and Daisy Serrano and Luc D’Abreau of Make It Rain Capital. In a huge discussion, they talk about how the eviction moratorium affected their portfolio and how they dealt with delinquencies. They also discussed rental assistance and state aid, and how they’re helping their tenants throughout the eviction moratorium. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn This episode features: Alex Felice Website: brokeisachoice.com Jerome Myers Website: jeromemyers.co Kyle Mitchell Website: aptcapitalgroup.com Daisy Serrano & Luc D'Abreau Website: makeitraincapital.com

E84: Justin Fraser - Special Eviction Moratorium Episode

In this episode, Josh Eitingon of DXE Properties shares to True Multifamily his experience of changing property management companies due to undisclosed kickbacks. When he established a good working relationship with one of his maintenance staff, he was informed that the property manager was undercutting him and getting a few thousand dollars for a roofing job. Josh also shares more information on his newer 106-unit deal in Atlanta. He shares the process of a tenancy in common, an arrangement wherein two or more people share ownership rights in a property. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Josh Eitingon: Website Facebook Instagram LinkedIn

E83: Josh Eitingon - He fired his property manager for not disclosing kickbacks!

Jim Monk of CLOZZITS joins True Multifamily to talk about how they design closets that boost revenue. He shares how it’s a huge differentiator in the multifamily competition to install closets that not only increases revenue but also closets that residents like. He mentions how the residents of today are not only looking for a place to live in but also looking for resort-type amenities, retiring the old utilitarian closet and upgrading it to an experience that boosts the asset value of the property. He also talks about the uniformity and uniqueness of the closet experience that beats the competition, whether you’re in a Class B or Class C type asset, and how it’s cheaper than the usual renovations that owners do to increase the value of the property. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Jim Monk: Website Facebook Instagram LinkedIn

E82: Jim Monk - His closet system is a Value-Add Amenity!

This episode features Jonathan Barr of JB2 Investments. He joins True Multifamily to talk about property management and the challenges with unexpected fees on their contract. Jonathan shares to always be thorough on the contracts of your deals, letting your attorney review everything to avoid missing the unexpected fees that you don’t notice until you get your first P&L such as the late fees, processing fees, administration fees, and application fees. Also, Jonathan shares how he ran into some trouble with a manager when they allowed the property manager too much freedom. He emphasizes the importance of keeping an eye on the big picture while executing on a day to day basis. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Jonathan Barr: Website Facebook Twitter Instagram LinkedIn

E81: Jonathan Barr - He regrets skimming a contract and missing the hidden fees!

Mike Morawski, Founder & CEO of My Core Intentions, joins True Multifamily to open up about the mistake of buying too much real estate way too fast, destabilizing him along the way. He shares his unfortunate experience trying to save his company without disclosing the details to his investors, eventually getting sentenced to 10 years in federal prison for wire fraud and mail fraud charges. Mike shares the steps he took to rise up from getting wiped out, from writing two books to building a coaching and training platform. He also built a third-party scattered-site residential management company to keep things afloat as he was getting ready to go to prison! With all his experience, Mike shares the important things you need to know during the transition period of getting a property under contract to closing, emphasizing the importance of staying involved, building relationships with the onsite staff, not overlooking due diligence, and ensuring to take all the steps in place. For all True Multifamily listeners, Mike is giving away a copy of his book, Exit Plan, a complete guide to multifamily investing in why you need an exit plan before you buy. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Mike Morawski: Website Facebook Twitter Instagram Pinterest LinkedIn YouTube Podcast

E80: Mike Morawski - He served 10 years in prison & now keeps others out of trouble!

This supersized episode features Sam Primm of FasterFreedom as he joins True Multifamily to discuss how he leveraged social media platform TikTok to educate people about real estate investing. He shares how to work with TikTok’s evolving algorithm, by taking a trend and making it your own, directing viewers from TikTok to YouTube or your website, and the whole content creation process. He also shares the unique situation of his 32-unit property, being a heavy value add renovation, rehab project, and the process of operating on a property that he did not yet own. With Sam’s creativity, they were able to stabilize the property and maximize profits! Sam offers free training for anyone who is interested in understanding real estate investing from a foundational level, learning the best tips for when you’re taking the first steps to do it more efficiently, educating on how to create passive income without using any of your own money. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Sam Primm: Website Facebook Instagram TikTok LinkedIn YouTube

E79: Sam Primm - He built a huge TikTok following by teaching people Real Estate Investing!

In this episode, Randy Langenderfer of InvestArk Properties, LLC joins True Multifamily to share how he dealt with a fire on his first GP deal on the first month of ownership! He shares the whole process of finding his first deal, the challenges and tribulations that came with the fire, and how they changed the onsite manager to help the property rise from the ashes. Randy also mentions the importance of knowing your property manager, not only the onsite manager but also the management company to get a better perspective on how the property is being taken care of. Follow, Share & Subscribe! True Multifamily: Website Facebook Instagram YouTube Justin Fraser's Social Media: Facebook Twitter Instagram LinkedIn Connect with Randy Langenderfer: Website LinkedIn

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