Myers Methods Presents Multifamily Missteps

That's Why We Fired Them - Devin Elder

August 28, 2020 jerome myers
Myers Methods Presents Multifamily Missteps
That's Why We Fired Them - Devin Elder
Chapters
Myers Methods Presents Multifamily Missteps
That's Why We Fired Them - Devin Elder
Aug 28, 2020
jerome myers

I had the pleasure of speaking with real estate entrepreneur, and the founder and principal of DJE Texas Management Group, Devin Elder.

Let's jump into Devin's story and get expert advice on how you can switch from single-family to multifamily real estate.

[00:01 – 03:23] Opening Segment

  • Devin Elder talks about his background and how his journey began
  • Spent about ten years in corporate America
  • Wanted to be an entrepreneur (pursued real estate)

[03:24 – 10:11] From Flipping Houses to Apartment Buildings

  • Why did you switch from flipping houses to apartment buildings?
  • "I'm real big on learning."
  • Have there any been issues with running your apartments?
    • "I absolutely had stuff go wrong, still goes wrong, every day."

[10:12 – 18:48] Devin's Missteps

  • Devin shares some of the problems they faced in their company
  • As entrepreneurs, there are times that you just have to take the leap

[18:49 – 24:53] Scaling His Multifamily Portfolio

  • How big was your first apartment?
  • Devin talked about his approach when he switched to multifamily
  • Devin talks about the mindset to become successful
    • Shares some actionable advice that you can apply in your life

[24:54 – 30:15] Closing Segment

  • Devin gives powerful words of wisdom that you don't want to miss!
  • What does it mean for you to be all in?
  • Devin reflects on how he was able to reach where he is now

 

Tweetable Quotes:

"My default assumption is, somebody's gonna try to steal from me. Somebody's gonna not pay rent. Somebody's gonna quit on-site. And when those things happen you go, ‘Yup, I expected that. It's figuring out how to put in a plan that can deal with all those things’." – Devin Elder

"I think that's important for passive investors to understand: there's a lot of dollars in this business. Pro and Con, right? There's a lot of money to be made, but guess what? There's a lot of money to be spent and a lot of operating capital to float too." – Devin Elder

"Anything that man can conceive and believe, he can achieve." – Devin Elder

 

 

You can connect with Devin on LinkedIn. Visit his website https://www.devinelder.com/. Check out DJE Texas Management Group’s website for more information on real estate investment opportunities. Listen to his podcast, The DJE Podcast.

 

LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.

If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!

Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211)

Support the show (https://www.facebook.com/groups/157335752156211/)

Show Notes

I had the pleasure of speaking with real estate entrepreneur, and the founder and principal of DJE Texas Management Group, Devin Elder.

Let's jump into Devin's story and get expert advice on how you can switch from single-family to multifamily real estate.

[00:01 – 03:23] Opening Segment

  • Devin Elder talks about his background and how his journey began
  • Spent about ten years in corporate America
  • Wanted to be an entrepreneur (pursued real estate)

[03:24 – 10:11] From Flipping Houses to Apartment Buildings

  • Why did you switch from flipping houses to apartment buildings?
  • "I'm real big on learning."
  • Have there any been issues with running your apartments?
    • "I absolutely had stuff go wrong, still goes wrong, every day."

[10:12 – 18:48] Devin's Missteps

  • Devin shares some of the problems they faced in their company
  • As entrepreneurs, there are times that you just have to take the leap

[18:49 – 24:53] Scaling His Multifamily Portfolio

  • How big was your first apartment?
  • Devin talked about his approach when he switched to multifamily
  • Devin talks about the mindset to become successful
    • Shares some actionable advice that you can apply in your life

[24:54 – 30:15] Closing Segment

  • Devin gives powerful words of wisdom that you don't want to miss!
  • What does it mean for you to be all in?
  • Devin reflects on how he was able to reach where he is now

 

Tweetable Quotes:

"My default assumption is, somebody's gonna try to steal from me. Somebody's gonna not pay rent. Somebody's gonna quit on-site. And when those things happen you go, ‘Yup, I expected that. It's figuring out how to put in a plan that can deal with all those things’." – Devin Elder

"I think that's important for passive investors to understand: there's a lot of dollars in this business. Pro and Con, right? There's a lot of money to be made, but guess what? There's a lot of money to be spent and a lot of operating capital to float too." – Devin Elder

"Anything that man can conceive and believe, he can achieve." – Devin Elder

 

 

You can connect with Devin on LinkedIn. Visit his website https://www.devinelder.com/. Check out DJE Texas Management Group’s website for more information on real estate investment opportunities. Listen to his podcast, The DJE Podcast.

 

LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.

If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!

Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211)

Support the show (https://www.facebook.com/groups/157335752156211/)