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Multifamily Missteps Hosted by Christy Keeton

Christy Keeton - Real Operator. Real Missteps. Real Solutions.

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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 jo ...
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Having the right inspector on-site is crucial. Join Jerome as he shares his journey of acquiring a 20-unit and an 8-unit property from the same owner, both closing on the same day. Discover the critical missteps that could have cost him and his partners dearly. Tune in as he dives into issues with HVAC systems and emphasizes the importance of atten…
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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…
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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 t…
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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 …
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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 …
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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 oppo…
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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 hi…
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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 B…
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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 env…
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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 …
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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 w…
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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 uncov…
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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 inter…
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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 contingen…
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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 va…
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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 consulta…
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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 practi…
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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 sign…
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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 hi…
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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 re…
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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 …
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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, …
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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 g…
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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 bre…
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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 abov…
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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 go…
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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 mindf…
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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 professionall…
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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 shar…
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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 esta…
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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 …
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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 hi…
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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 …
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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 Conn…
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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 C…
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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 rab…
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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 …
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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 reve…
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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 your…
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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 u…
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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…
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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 giv…
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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 stori…
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While the potential for growth in the real estate business is staggering. Once you are in it and witness how much you can scale, it can be tempting to keep going. That’s definitely possible, however, in today’s episode, Mike Morawski reveals his story and reminds us of the dangers of not trimming loose ends in implementing business strategies. Hear…
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Reassuring ourselves of a good deal is not as simple as determining the potential future value appraisal. It comes with consideration of varying aspects and the market cycle is one of them. David Lindahl discusses the importance of recognizing the patterns of the market and using such observations to elevate our decision-making process in property …
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Let’s get into it to get a deep dive into some of the harsh truths of real estate and how to overcome them. [00:01 – 06:02] Opening Segment Jerome talks about his background. Three things that you want to do before you quit your job to get in real estate To get more of that check list Link below [06:02 – 20:20] Education in Real Estate What Jerome …
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The realms of real estate can be appealing especially in the aspect of monetary gain. In reality, there is more to it than that - it is not simply about acquiring low and selling at a high price. To experience more rewards, we must be willing to do the hard work and give value to our product. In this talk, Josh Cantwell stresses the importance of n…
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Many people will tell you to trust your gut whenever you’re making a key decision in your life. In the real estate business, however, it pays to not follow your gut all the time, especially in hiring. What you should do always is doing your due diligence to ensure that you’re doing the right thing. In the case of Anthony Scandariato, he learned to …
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It’s hard to get your target audience to engage in your social media content since there is a lot of “competition” for their attention. Brian Pownall learned that the key for them to engage with you is to be a relatable content creator, which you can only achieve if you’re getting yourself out there. Share your journey, both the ups and downs. Disc…
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Brett Morgan discovered that investing in the oil & gas industry has some similarities to investing in real estate. Still, there were a few things he needed to learn to invest in multifamily properties the right way. What prompted him to seek guidance was his experience with losing a property near his home just because he didn’t know where to start…
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