Before things get better, they get from bad to worse. This was what Randy Langenderfer experienced with a property a few years ago. First, he discovered that the property manager had been committing fraudulent acts. Then, he needed to deal with flood and fire incidents to the property, not to mention the outbreak of COVID-19.
The good thing was that he did not change course and eventually found the light at the end of the tunnel. Patience is a virtue, and Randy proved that this is a piece of advice that actually works.
[00:01 - 03:41] Opening Segment
[03:42 - 14:23] Dealing with Fraud, Flood, Fire, and a Pandemic
[14:24 - 23:14] The Lessons that Randy Learned
[23:15 - 26:12] Closing Segment
Tweetable Quotes:
“Don’t ever do a CMBS [Commercial Mortgage-backed Security] loan.” - Randy Langenderfer
“Communicate with your investors.” - Randy Langenderfer
Resources Mentioned
Email randy.langenderfer@invest-ark.com to reach out to Randy or connect with him on LinkedIn and Facebook. Do you want to invest in multifamily real estate in Texas and Arizona? Check out InvestArk Properties now!
Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3
Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB
Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC