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. 

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