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
Make Sure You Tie the Deal Up - Sam Wilson
Planning to get the deal requires consideration of a strategic exit too. In this episode, Sam Wilson talks about his investment and exit strategies, avoiding mistakes in the future, and how important it is to make sure that there are out clauses in contracts in order to protect oneself. Listen closely as Sam provides listeners with valuable advice on how to make life count by doing the things that don't always count.
[00:01 - 13:36] How to Secure a Contractual Agreement with Sellers
- Have reasons for walking away from a deal, even if it's difficult
- Sam discusses his background in the real estate space
- Slow down and get to know the seller before getting into a contract
[13:37 - 18:36] Simple Contracting Tips to Protect Yourself from Multifamily Missteps
- Have a written contract that outlines the terms of the deal
- Have an exit strategy and ensure to understand the seller's motivation to sell
- Contracts should be simple and easy to read, with no hidden fees or penalties
[18:37 - 20:06] Closing Segment
- Make life count
- Final words
Tweetable Quotes:
“There are unfinanceable deals out there. So, you know, whatever your reasons are, make there’s enough in there that’s broad enough to get out of the deal… Don’t be like me who is afraid to walk away from deals.” - Sam Wilson
“That’s the thing about mistakes. I think that entrepreneurs, in particular, are willing to fail… And we’re going to fail… And when you do that, you just got to be able to learn from that lesson and remember those mistakes.” - Sam Wilson
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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