CREI Partners

By CREI PartnersBusiness Entrepreneurship Education Self-Improvement Investing

CREI Partners episodes

February 13, 2023Ep #38: Investor Strategies to Save Thousands in Taxes with Susan Geist
In this episode, Wayne talks to Susan Geist, PMP, who grew up in a lower-class family in rural Appalachia and began investing in real estate in 2008. Eventually, she achieved a portfolio that now generates over 5-figures in passive income each month. Using strategic investment deductions, she reduced her annual federal tax bill from $137k to $6k while increasing her W-2 and investment income. Her current multi-million-dollar real estate portfolio consists of both long- and short-term rentals, in addition to limited partnerships in apartments, car washes, self-storage, hotels, and mobile home parks nationwide.
Through her company Rising Femme Wealth, LLC, Susan provides financial education workshops and investment coaching to empower other women with the strategies and confidence to grow their wealth, reduce their tax bills, and achieve financial independence. 

Topics on Today’s Episode:
Susan introduces herself and provides a disclaimer. Susan is not a lawyer, CPA, or certified financial advisor, and does not offer legal or tax advice. The information she shares is only for educational purposes, and everyone should do their own due diligence.
How Susan went from a humble beginning in rural Appalachia to building a current portfolio that generates over 5 figures monthly passive income. She found inspiration to grow wealth and promote financial independence, through her mother’s experience. Susan also provides some details about her personal portfolio.
What is tax optimization and why you should do it? The 2 biggest wealth killers are taxes and inflation.
Tax laws were fundamentally put in place to shape the economy; tax shelters were put in place to promote housing and job creation. The government rewards investment into these sectors and not utilizing the tax deductions legally available to you is stealing from yourself and your family.
Most CPAs are not trained in real estate investment so they can only offer limited advice, it is up to each individual investor to become educated in real estate specific tax shelters. Knowledge is power over your personal tax situation.
“Tax buckets” and Depreciation. The IRS splits your income into 3 distinct buckets: active, portfolio, and passive. Gains and losses in each bucket are separated and typically cannot be combined.
Active income: W2 income, running a business or an LLC, or if you have Real Estate Professional status. Short-term rentals are considered an active business if self-managed, as is active house flipping as your primary job. Active income incurs income taxes as well as 15.3% self-employment tax.
If your AGI is below $100,000 per year, you can take up to $25k in passive real estate losses-One of the few places passive and active income might interact.
Portfolio income: Stock and bond sales, dividends, interest from accounts or owner financing interest, and sales of non-business assets such as a non-rental home. These are taxed as capital gains or losses.
Passive income: Rental income whether single family homes or syndication, royalties, and short-term rentals if you have a management company.
Real estate (buildings only), equipment, or capital asset depreciation, allows you to generate a paper loss on the tax return without losing money. The depreciation amount changes with lifespan divided by value. Building lifespans are either 27.5 or 39 years.
Cost Segregation separates components of the business asset that depreciate faster than the building overall such as appliances, flooring, fixtures, etc.
Bonus depreciation allows more of the depreciation loss in year 1.
Depreciation recapture at the sale of the property is taxed at the ordinary income rate up to 25%, rather than lower capital gains tax. Because of potentially higher tax rates, consider taxes at exit and opportunity for 1031 etc.
Tax loss harvesting can be a helpful technique to reduce capital gains tax on passive income. A limit of $3k in losses can be used on active income and the remainder of loss can reduce capital gains on stock, non-business property sale, etc.
Investing in real estate syndications offers passive losses through depreciation and cost segregation.
A work vehicle over 6000lb also provides another opportunity for depreciation losses, without recapture under certain circumstances.
For couples involved in real estate, one partner without a W2 could obtain REPS (Real Estate Professional Status) could be a great strategy to avoid taxes. This would allow you to take all passive real estate income and move it to active earnings to offset W2, much like self-managing a short-term rental.
Online training and Workshops offered by Susan Geist:
Sensational Investing the Financial Security Formula-How to set up an income generating portfolio)
Tax strategies and Planning-Expands on topics mentioned here
Personal Coaching Sessions
Q&A:
Does 27 ½ years exclude the age of the residential property? No matter the age, 27.5 years is the depreciation time for residential property.
Can we extend the depreciation to W2 income? Most of the time, no, unless you have Real Estate Professional Status
What is the tax effect of participating in real estate syndication? K-1s are issued from the syndication LLC listing passive income and losses generated through depreciation after a cost segregation. Losses can carry forward to offset future gains.
I thought losses were limited to $3,000? How did you get more? Capital losses up to $3,000 can be used to reduce W2/active income, but additional capital losses can be used to offset capital gains.
How do you see solar panels and associated tax credits? Solar panels take a lot of time, if they ever make your money back. So, do your math to make sure the investment makes sense. Otherwise, check with a CPA on this tax credit in your situation.
Did you purchase the short-term rental for tax benefits? It is not cash flowing very well due to the economy, but yes, it was purchased for tax benefits. As a short-term rental being used as an active business, it is a 39-year depreciation. Susan also did a cost segregation study and used accelerated bonus depreciation on that property. Leverages debt to utilize tax benefits that yield funds available to reinvest.
Does depreciation affect the land value or just the property? Just the structure is depreciated, not the land.
Are there specific cost segregation firms? Yes, there are specific firms. Engineering-based firms focus on commercial properties, and some online firms will perform cost segregation for single-family homes at lower cost. The cost is also deductible.
How much time is spent actively managing the active short-term rental? At least 100 hours per year must be spent on the property and it must be documented.

Links and Resources:
https://www.risingfemmewealth.com/
[email protected]
https://calendly.com/risingfemmewealth/60min?month=2023-02
https://www.linkedin.com/in/susan-geist
Texas Multi-Family Passive and Active Investors Meetup (Austin, TX) | Meetup
45 min
January 31, 2023Ep #37: Multi-Family Real Estate Financing and Gap Funding with Ethan Gao
In this episode, Wayne talks to Ethan Gao, who is an attorney, key principal, and general partner. He has made over 300 private loans secured by real estate, invested in over 100 single-family “fix and flips” and is a general partner on multiple commercial and multi-family projects totaling over 900 units. His primary role on deals is loan guarantor, key principal, or gap funder. Ethan, both personally and through his private equity fund Good Bull Investments LP and Good Bull Lending, LLC, has invested in commercial properties totaling over $25 million.
Ethan graduated from Cornell University with a BA in Economics, in 2003 at the age of 19. Ethan was admitted to Columbia Law at 19 and graduated at 22. He worked on Wall Street in financial institutions focusing on billion-dollar mergers and acquisitions for several years before transitioning to being a professional investor and entrepreneur in 2016. He lives in Houston, TX with his wife, whom he met on the first day of class at Cornell in 2000, and their five children.

Topics on Today’s Episode:
How and why Ethan went from successful Wall Street lawyer to Houston real estate investor. How different life stages change priorities and perspectives.
The top reasons why staying on the passive side of real estate investment works for attorneys. Ethan took the approach of finding operators to lend money to or financially back, to limit his time commitments while working demanding corporate jobs.
Perspectives on single-family distress sales and “fix and flip” and why he prefers working as a loan guarantor.
Leveraging networking to meet personal goals. He went to meetings and took cards, emailed them back, and was able to form valuable connections. One person that is less relevant often can refer you to someone who is a perfect fit for what you’re trying to do.
The current market environment has caused deal flow to slow down dramatically for single-family “fix and flip” transactions. Negotiating all the services and aspects relating to purchasing a property is valuable-mortgage fees, inspection fees, etc. can improve the terms of the transaction.
How the financial system works in multi-family deals and the role of the key principal/loan guarantor. Liquid funds and net worth requirements for multi-family lending.
How to vet whether sponsors and managing principals are reliable and will execute the business plan. Ethan believes in underwriting the people before underwriting the deal, to mitigate risk. How will this person behave in a tough situation?
Discuss the difference between recourse and non-recourse loans. If the loan value is greater than the sale value, a full recourse loan will have to be repaid in full to the bank. A non-recourse loan will be fully evaluated by the bank, and if the lower value was outside the operators' control, and there was no fraud, etc., the bank would now own the property then everyone moves forward. The operator would struggle to be approved for future loans but would not have to repay the balance of the loan. Recourse loans may be needed for certain asset classes, and often offer better interest rates.
If the key principal is signing off on multiple loans, does it eventually trigger a red flag from the bank, Fannie Mae, or Freddie Mac? Anecdotally, results vary.
What are additional requirements to sign off for government loans from Fannie Mae or Freddie Mac? These loans have more stringent requirements than other loan sources.
Ethan’s perspective on the gap funding process and why it is necessary in syndication deals. This is a demanding, speedy process meant to help meet deadlines, such as in the case of 1031 exchanges.
Gap funding is valuable for Ethan because original funds plus interest are returned quickly, in exchange for a percentage of general partnership that will yield a payout at the sale of the asset in 5-7 years.
In order to consider providing gap funding, Ethan prefers 80% of funds needed to already be raised, as well as other criteria. Creative collateral options are available in cases of low liquidity available from the syndicator.
What other asset classes is Ethan Gao interested in extending gap funding for? Due to his network, Ethan’s investments are primarily in multi-family real estate syndications, but there are a few outliers. He is motivated to find opportunities to lend that are short-term loans, where the borrower is motivated to pay high rates and their repayment strategy makes sense. This is a tool to move the needle from no to yes, for a transaction.
Ethan is proudest of his kids and in support of his wife as a “professional mother.”

Resources:
Ethan Gao | LinkedIn
Good Bull Investments – Private Equity, Texas Style
44 min
January 04, 2023Ep #36: Exploring Growth Mindset and Build-to-Rent Community Investments with Ruben Greth Pt. 2
In this episode, Wayne talks to Ruben Greth. This is his second time on the show! Ruben has a popular podcast about raising money for multi-family syndications called the Capital Raiser Show, where he learns from the best multi-family syndicators in the country. Ruben started in real estate by raising $625,000 of joint venture money from social media to buy small multi-family deals in Phoenix, Arizona. He is an expert in marketing, brand awareness, and capital raising.
In 2019, Ruben partnered with one of the top syndicators in the acquisitions of 190 units and has since become a fund manager who is building over $48 Million worth of subdivisions in Louisiana and Alabama and partnering with multiple select syndicators bringing equity, advisory and investor management.
Ruben is a managing partner of Legacy Acquisition, which is quickly becoming the premier build-to-rent and community builder in Arizona.
Topics on Today’s Episode:
(0:45) Introducing and welcoming Ruben Greth.
(1:45) Relationships and partnerships matter: Wayne and Ruben are partnering on a build-to-rent community, and Ruben has a new partnership with Richard Wilson. Networking benefits all parties.
(3:30) Ruben Update. He is now in the process of co-authoring a book and is working on capital raising for 3 deals. There are 100-unit, 150-unit, and 220-unit 506(c) deals in the progress. He is involved in the leadership of Legacy Acquisition and working on a mentorship coaching program.
(5:40) Ruben mentions the concept of teaching other capital raisers how to extract themselves out of the capital raising model to have others run the operations for them while they kick back and enjoy life.
(6:03) Compare yourself, in a positive way, to who you were 1 year ago instead of comparing yourself to other people. Avoid unhealthy comparisons through social media.
(7:30) The power of vision boards and intention statements to track and reach goals. Write your goals down and review them as often as possible, daily if you can.
(10:20) Ruben talks about the process of speaking books into existence. Pros and cons of different methods.
(13:25) Wayne discusses 2 main book topics that he would like to write about: 1. Passive investing education 2. Successful asset management.
(16:24) Re-defining Success: Loving what you do, working less (not more), being 3-5 times more productive, and helping people along the way.
(21:50) 2023 Goals in growth and scaling.
(24:00) The current market landscape
(24:32) An ABCD breakdown of multi-family subclass types.
(25:00) The tough economic climate is forcing many investors to move into sub-niches such as: Built-to-rent, assisted living, RV parks, storage units, and mobile homes.
(25:00) Market opportunities in built-to-rent development, whether vertical or single-family homes. Build-to-rent homes are beneficial for tenants, investors, and institutional buyers.
(26:00) A synopsis of current built-to-rent market forces and opportunities.
(30:00) Specific market is incredibly important for build-to-rent communities: Secondary, pro-growth cities facilitate on-time project completion with high desirability for renters.
(35:47) Expected returns in a development project would allow you to double your money in a 5-year period.
(36:00) Completion timing and renting rate differences for multi-family vertical and multi-family horizontal.
(38:45) For people coming up in real estate syndication or asset management, Ruben recommends partnering with larger companies or funds to add value for all parties.
(42:00) Partnering with a Managing Principal by bringing value to the table: Many prospective partners will ask, “How can I be of service to you?” Instead, up your game and ask, “What’s preventing you from scaling to 10x your current size?” Listen to the answer and find the way you can contribute and add value.
(44:10) Ruben’s proudest moments of 2022: 1. Over 1.3 million Podcast Downloads 2. Partnership with Richard Wilson
(45:00) Breaking Through limiting beliefs: Go out and do it, and don’t be afraid. Stop analysis paralysis and take some action in order to self-actualize.
Resources:
Capital Raising Show
https://podcasts.apple.com/us/podcast/the-capital-raiser-show/id1478498436
https://capitalraisershow.com/
Legacy Acquisition
https://legacyacquisitions.com/
LinkedIn
https://www.linkedin.com/in/rubengreth/
47 min
November 29, 2022Ep #35: Passively Growing Doctors Wealth Through Real Estate with Raj Venkatramani
In this episode, Wayne talks to ‘’Raj’’ Venkatramani MD. Rajkumar Venkatramani (“Raj”) is a pediatric cancer researcher, oncologist, real estate investor, entrepreneur, founder, and manager at REIDOC Capital LLC. Raj went to medical school in India and trained in London, Illinois, and California. Raj has a master’s degree from the University of Southern California and an MBA from the University of Massachusetts. Raj owns and manages several rental properties in Houston and has invested in multi-family syndications for more than 5 years. He has invested both as a limited partner and a general partner in more than 1200 apartment units. Raj is passionate about helping doctors invest in apartment syndications.
Today, Raj answers questions about why doctors use commercial multi-family investing as a gateway to financial independence, and what motivates medical professionals to feel passionate about real estate investing.
Topics on Today’s Episode:
(2:00) How Raj began investing in real estate. Education is key, and Raj is passionate about educating professionals in his field on how to properly vet real estate syndicators and make the right decisions.
(5:30) How to build relationships with syndicators to help doctors find the correct Real Estate Syndicator.
(7:20) What should doctors look for when vetting a sponsor?
(9:25) Why might physicians hesitate to invest? 1. No time for a learning curve 2. Fear of recession 3. Too good to be true 4. Stocks are easier
(10:45) Have you had the experience of an offer that is too good to be true? Past performance cannot guarantee future results. Covid also created unusual growth.
(15:30) Why real estate syndication is ideal for doctors? Top 3 Reasons: 1. Diversification 2. Tax Benefits 3. Higher Returns
(16:45) Doctors become high earners later than most professionals because of the length of education. Doctors are high-income earners but not necessarily wealthy. They have significant med school debt, and the health care system is enlarging so they expect lower W2 income. Furthermore, Doctors are motivated by the ability to have financial independence and focus more on helping patients and healing. Finally, covid has made doctors rethink priorities, most would like to be able to spend more time with family since death can come earlier than expected.
(20:30) Raj’s online course for passive investors: Doctor Syndication School (link below)
(22:00) How Raj balances w2 job, family, and syndication.
(25:30) With the current state of the economy, are there certain markets Raj is focused on? Texas and the southeastern US due to population growth, job growth, and landlord-friendly laws. Raj diversifies within this market by assessing each deal on its own merits.
(27:30) What to look for when underwriting a deal. Raj has become more conservative regarding rent growth and increase in cap rate or final sale price.
(30:40) What is Raj finding is one of the most overlooked aspects of real estate investing? Expenses are shifting due to inflation, as well as insurance details.
(36:00) Reach Raj through LinkedIn or other social media through searching ReiDoc Capital, feel free to reach out.
Links
REIDOC Capital Website:
https://reidoccapital.com/
Rajkumar Venkatramani M.D. & REI DOC LinkedIn
https://www.linkedin.com/in/reidoc/
Passive Real Estate Investing: A Guide for Doctors Ebook
https://reidoc.mykajabi.com/ebook
https://lnkd.in/gsiwPnHe
Doctor Syndication School Online Course
https://reidoc.mykajabi.com/dss-landing-page
Multi-Family Investing Uncovered Free E-Book
https://www.creipartners.com/ebook/
38 min
September 26, 2022Ep #34: Power of Real Estate Marketing with Adam Carswell
In this episode, Wayne talks to Adam Carswell. Adam is a real estate investor and podcaster. He’s also a Linkedin power networker and a new media marketing maverick. Co-founder of RaiseMasters. He earned the title The Voice of Liberty as the MC at Libertyland national events. Additionally, he’s a cryptocurrency pioneer and a former semi-pro basketball player.
In today’s wide-ranging conversation, Adam begins by describing his real estate journey up to this point. Wayne and Adam discuss media marketing, the social media platforms that most contribute to success in commercial real estate, what people do right and wrong when nurturing investors, and what’s going on with cryptocurrency and NFTs. Listen in to hear more about Adam’s career and what he has to say.
Topics on Today’s Episode:
What Adam’s real estate journey has been up to this point.
Media marketing and how it ties in at the commercial real estate level
Adam’s LinkedIn strategy
Hacks for LinkedIn
Social media platforms where there is the most success
The importance of YouTube as a platform
Adam’s thoughts on outsourcing and how to make it easier from a time commitment standpoint.
What people do right or wrong when it comes to nurturing investors
What’s going on with NFTs and blockchain, and how it fits into real estate
Adam’s proudest moment
Links and Resources:
Adam Carswell
RaiseMasters
Rich Dad Poor Dad by Robert Kiyosaki
Onlinejobs.ph
Fiverr
Upwork
Libertyfund.io
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast
39 min
June 20, 2022 Balancing Military Career, Family, and Scaling Real Estate with Keishia Kennedy
In this episode, Wayne talks to Keishia Kennedy, Founder, and Owner of Kennedy Remedy Investments, about how she balances a military career, family, and scaling real estate.
Keishia is an Army veteran with six years of service in the Army National Guard. During her enlistment, she was a human resource specialist and deployed to Kuwait as part of Operation Enduring Freedom.
Keishia began investing in real estate 11 years ago following her enlistment. In April 2021, she decided to take the next step on her entrepreneurial journey to focus on investing in commercial multi-family properties by founding Kennedy Remedy Investments.
Topics on Today’s Episode:
Self-Taught: How Keishia got started in investing tax-free money into real estate assets
Family Effort: Blessing to have someone you know and trust to help take care of the property
Veterans Administration (VA) Home Loan: Resource to purchase the home you reside in
Refinancing and Tax Benefits: Build equity and take capital/money to redeploy into deals
Lessons Learned: Be strategic with who you rent your property to and get better results
Contractor Issues: Be mindful when hiring and realize the cheapest is not always better
Team Sport: Rely on referrals, contracts, insurance, deadlines, materials, and family
Kennedy Remedy Investments: Why Keishia decided to focus on multifamily real estate
Partnership: Do due diligence and leverage to invest someone else’s money into deals
Roadblocks: Takes time to build a great relationship with someone for multifamily deals
Coach/Mentor/Mastermind: Invest in yourself to ensure others’ experience and referrals
Multifamily Mistakes: Don’t be too eager to invest in a deal, take time to do due diligence
Links and Resources:
Keishia Kennedy
Kennedy Remedy Investments
Keishia Kennedy on LinkedIn
The Beginner’s Guide to Investing As a Limited Partner
Kennedy Remedy Investments on Facebook
Kennedy Remedy Investments on Instagram
CREI Partners
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
42 min
June 20, 2022Ep #33: How to Scale Real Estate in California with Nonna Pikiner
In this episode, Wayne talks to Nonna Pikiner, a real estate investor, about how to scale real estate in California. Through partnerships with reputable and experienced operators, Nonna has a real estate portfolio valued at almost $1 billion.
Nonna identifies promising financial opportunities for investors with various experience levels. She helps them accumulate wealth through asset diversification, tax-efficient passive income, and capital preservation.
Topics on Today’s Episode:
Willingness to Learn: How Nonna got started in real estate investing
8-Unit Property: Challenge of not knowing who is going to take out the trash
Refinance and Reinvest: Scale quicker in real estate with syndication
Nonna’s Strategy: Passive to active investing and listening via partnerships
Why Oakland, CA? Make multifamily properties perform in rent-controlled space
Section 8: Government help with housing, but landlords uncomfortable w/ government
Property Calculations: Review and evaluate cash flow, principal amortization, and value
Eviction Moratorium: People unable to pay rent and landlords not able to do anything
Smart Oak: Nonna’s next-generation multifamily real estate investment company
Mission: Buy, operate, stabilize, and exit multifamily rental properties with shares

Links and Resources:
Nonna Pikiner on LinkedIn
SF Investor Social Club
Housing Choice Voucher Program - Section 8
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast
CREI Partners on Facebook
46 min
June 07, 2022Ep #32: Balancing Military Career, Family, and Scaling Real Estate with Keishia Kennedy
In this episode, Wayne talks to Keishia Kennedy, Founder, and Owner of Kennedy Remedy Investments, about how she balances a military career, family, and scaling real estate.
Keishia is an Army veteran with six years of service in the Army National Guard. During her enlistment, she was a human resource specialist and deployed to Kuwait as part of Operation Enduring Freedom.
Keishia began investing in real estate 11 years ago following her enlistment. In April 2021, she decided to take the next step on her entrepreneurial journey to focus on investing in commercial multi-family properties by founding Kennedy Remedy Investments.

Topics on Today’s Episode:
Self-Taught: How Keishia got started in investing tax-free money into real estate assets
Family Effort: Blessing to have someone you know and trust to help take care of the property
Veterans Administration (VA) Home Loan: Resource to purchase the home you reside in
Refinancing and Tax Benefits: Build equity and take capital/money to redeploy into deals
Lessons Learned: Be strategic with who you rent your property to and get better results
Contractor Issues: Be mindful when hiring and realize the cheapest is not always better
Team Sport: Rely on referrals, contracts, insurance, deadlines, materials, and family
Kennedy Remedy Investments: Why Keishia decided to focus on multifamily real estate
Partnership: Do due diligence and leverage to invest someone else’s money into deals
Roadblocks: Takes time to build a great relationship with someone for multifamily deals
Coach/Mentor/Mastermind: Invest in yourself to ensure others’ experience and referrals
Multifamily Mistakes: Don’t be too eager to invest in a deal, take time to do due diligence

Links and Resources:
Kennedy Remedy Investments
Keishia Kennedy on LinkedIn
The Beginner's Guide to Investing As a Limited Partner
Kennedy Remedy Investments on Facebook
Kennedy Remedy Investments on Instagram
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast
CREI Partners on Facebook
42 min
May 24, 2022 Creating Streams of Income through Cable Contracts with Kevin Gardner
In this episode, Wayne talks to Kevin Gardner, President of Multifamily Utility Solutions (MUS), about creating miscellaneous income through cable, internet, and other contracts.
Kevin spent nearly 20 years with Comcast and was responsible for managing the team that negotiated telecommunications access agreements with multifamily property owners.
For multifamily property owners and their management companies across the country, Kevin’s experience has resulted in favorable contract terms and improved net operating income (NOI). In 2021, MUS’s clients increased their NOI by more than $4 million, resulting in an increase in asset value of more than $100 million.
Topics on Today’s Episode:
Comcast: How Kevin got started in multifamily investments and settled into cable niche
Profit-Sharing: How Kevin’s contracts work for multifamily tenants and property owners
Buy in Bulk? You buy and pay for 100% of your unit whether amenity is used or not
Bulk Agreement: It’s a fixed expense, so find out if there’s a contract via financials
Right of Entry: Compensation given for permission/authorization to be on the property
100: When to add revenue to NOI with new or renewal agreement/contract opportunity
Future of Cable: Streaming is inevitable but broadband pipe is critical to have for access
FCC Ruling: Protect consumers and not eliminate or limit their choices for financial gain
Links and Resources:
Kevin Gardner
Multifamily Utility Solutions
Kevin Gardner’s Email: [email protected]
Kevin Gardner on LinkedIn
Federal Communication Commission (FCC)
CREI Partners
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast
CREI Partners on Facebook
38 min
May 24, 2022Ep #31: Creating Streams of Income through Cable Contracts with Kevin Gardner
In this episode, Wayne talks to Kevin Gardner, President of Multifamily Utility Solutions (MUS), about creating miscellaneous income through cable, internet, and other contracts.
Kevin spent nearly 20 years with Comcast and was responsible for managing the team that negotiated telecommunications access agreements with multifamily property owners.
For multifamily property owners and their management companies across the country, Kevin’s experience has resulted in favorable contract terms and improved net operating income (NOI). In 2021, MUS’s clients increased their NOI by more than $4 million, resulting in an increase in asset value of more than $100 million.

Topics on Today’s Episode:
Comcast: How Kevin got started in multifamily investments and settled into cable niche
Profit-Sharing: How Kevin’s contracts work for multifamily tenants and property owners
Buy in Bulk? You buy and pay for 100% of your unit whether amenity is used or not
Bulk Agreement: It’s a fixed expense, so find out if there’s a contract via financials
Right of Entry: Compensation given for permission/authorization to be on the property
100: When to add revenue to NOI with new or renewal agreement/contract opportunity
Future of Cable: Streaming is inevitable but broadband pipe is critical to have for access
FCC Ruling: Protect consumers and not eliminate or limit their choices for financial gain
38 min

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