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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
Down to 20% Occupancy - Amy Tiemann
I had the pleasure of speaking with Amy Tiemann today. Amy is a multi-family investor and consultant and President of TM1 Properties. She was recently featured in Forbes, with a piece on due diligence in multifamily investing. Her passion is to help accredited investors earn passive income through multi-family real estate projects. In this episode, we will discuss her whirlwind journey into real estate investing and property management, plus some of her missteps and lessons along her journey.
Let’s jump into Amy’s story and get expert advice from a real estate pro!
Things you will learn in this episode:
[00:01 - 07:19] Opening Segment
- How to get in contact with Amy
- See links below
- Amy talks about her career background and journey in real estate
[07:20 - 13:26] The invisible Boundary
- Amy shares the story about the lesson she got from one of her 40 unit deal that went wrong.
- Expect the unforeseen, and don’t blame it all on yourself.
- You have to check with your advisors routinely.
- In real estate, things go wrong sometimes, and it is okay to admit that you have screwed up so you can learn.
- The invisible boundary is a real thing.
[13:27 - 26:19] Down to 20% Occupancy
- Amy shares the story of one of her biggest deal that went bad after a hurricane
- 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!
- Got down to 20% of occupancy
- Don’t let emotion run you when it comes to real estate
- It took a long time to stabilized
- Amy talks about buying in our backyard
- It’s all about the mindset and emotion that drives you
[26:40 - 29:39] Closing Segment
- What are your words of wisdom to our listeners?
- “ Pick your partners carefully, the one with the skillsets that you need because you can not do everything. So be self-aware enough to know who is going to help you.”
- Unwanted things might happen, so you want to make sure your partner will support you, not hurt you.
- Final words from me
Tweetable Quotes:
“You can’t do everything on your own and don’t be afraid to ask for help from others.” - Amy Tiemann.
“In real estate, things could go wrong sometimes, and it is okay to admit that you have screwed up so you can learn .” - Amy Tiemann.
“Routinely checking with your advisors, even when things are going well .” - Amy Tiemann.
“Pick your partners carefully, the one with the skillsets that you need because you can not do everything. So be self-aware enough to know who is going to help you.”- Amy Tiemann.
You can connect with Amy on LinkedIn, and you can also visit the website at tm1properties.com/ or call her at 5126880594.
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.
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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