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
Losing Thousands in Due Diligence - Mauricio Roque
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 reveals his stories of missteps especially in his first deals with both controllable and uncontrollable factors, how he managed to pivot and rise through it all, the legalities and the implications of practicing due diligence, and the tactical steps to take you might consider for your next RPA.
[00:01 - 04:05] Opening Segment
- I welcome today’s guest, Mauricio Roque
- From selling residential real estate then to owning massive multifamily properties
[04:06 - 13:03] The Caveat to Letting Fear Take Over
- Mauricio shares his first unsuccessful multifamily deal
- The disadvantage of letting fear run the course
- Repercussions in changing your mind during negotiation
- Recognizing unreliability of brokers
[13:04 - 19:56] The Recipe for Success in Real Estate Partnerships
- The fear of losing partners and potential investors
- Displaying openness in communication
- Not giving up despite of tough challenges
- Practicing due diligence and tweaking the RPA
[19:57 - 21:10] Closing Segment
- Persist and get to the finish line
- Final words
Tweetable Quotes:
“When I started looking at multifamily, all I heard was these perfect stories. And when I started doing all the work myself, then I started hitting walls.” - Mauricio Roque
“You see all these people closing deals and I'm not closing anything. But what happened was people actually started approaching a little more and they appreciated the fact that I was putting their interest… and that they saw or they felt that I was taking care of their hard earned money. I think they appreciated it and they stuck with me.” - Mauricio Roque
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
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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