True Multifamily

Daniel Kidd is an investor specialist and veteran at Five Pillars Realty Group. Dan shares his story about one of his first deals and how he took an eviction and turned it into a short term rental using Airbnb. He talks about the challenges long term rentals have to face when it comes to living with short term rentals and how he worked around it.

Dan walks us through his experience with renovating a trashed property, turning it into a better, aesthetically pleasing place to live in. He also talks about the economics of Airbnb, making the profit of one short term rental unit equating to three other long term rentals.

Reference Links:

Five Pillars Realty Group

http://www.fivepillarsrealty.com

Daniel Kidd

https://www.fivepillarsrealty.com/about/daniel-kidd/

Social Media:

Facebook: https://www.facebook.com/daniel.kidd.1690

Instagram: https://www.instagram.com/realestatewithdanielkidd/

BiggerPockets: https://www.biggerpockets.com/users/DanielK198

Andrew is the owner and founder of Capital Equity Partners. He develops and syndicates primarily out of south Boston. As he looks to scale to larger multifamily properties, Andrew talks about scaling the right way. He and his team are currently working through a 28 unit, refining the tools in their tool belt to prepare them to take down another, much larger deal. Some of these tools include rent raising strategies as well as mitigating operational inefficiencies.

Reference Links:

Capital Equity Partners

https://www.capequitypartners.com/

Jason Yarusi, multifamily property investor and apartment syndicator speaks about the downside of raising rents upon property takeover. Rather than raising rents on day one, he improves the property from the outside in, making it a better community for the tenants. By focusing on landscaping, signage, parking lots and roofs, then moving onto utility savings, owners can change the perception of the property. Only after he adds value to the tenants, and their maintenance issues are taken care of, will he roll out a rent raise plan.

Reference Links

Yarusi Holdings

https://www.yarusiholdings.com/about-jason-and-pili/

Multifamily Foundation Podcast

https://www.yarusiholdings.com/multi-family-foundation-podcast/

This episode is part of a series recorded at PodMAX, an event that connects podcast hosts and entrepreneurs within the real estate space who have fascinating stories to share. Hoan Thai, a rental property investor practicing the BRRRR strategy speaks about mastering your geographic area to maximize scalability and efficiency.

Reference Links

I Escaped My 9 To 5

https://iescapedmy9to5.com/

Hoan’s Facebook

https://www.facebook.com/hoan.thai

Shelby Osborne, Mike Glaspie, and Dan Kidd of the Five Pillars Realty Team explain how they started with a Pentaplex (5 unit) and grew their multifamily partnership to raise capital, find deals, and grow their multifamily investing business. They discuss the best ways to work together, divide responsibilities, and leverage their strengths to create a powerhouse multifamily investing partnership!

Check out 5 Pillars on Facebook or Instagram!

Justin Fraser explains how he negotiated a contract with a Fiber Optic Service Provider to generate an upfront fee as well as recurring revenue for two properties, all at no cost to tenants or ownership, which will add over $200k to the value of the properties. This is an excellent “value add” strategy which takes zero financial investment while adding  an amenity for the tenants.

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Follow Justin on Instagram!

Jennifer Outland, Regional Manager for Rand Property Management joins True Multifamily today to explain how to take over a property from a place of POWER vs. weakness. She tells the story of how upon takeover of a new multifamily property, her maintenance technicians both quit on day 1, but was still able to establish a powerful presence at the property while beginning the execution of the business plan. Jennifer speaks about the five core values of managing multifamily and how she uses each of these during a property takeover: 1. People First, 2. Growth Mindset 3. Unwavering Ethics 4. Extreme Ownership 5. Make it Happen

Jennifer also covers all the tasks that should be done on Day 1 when taking ownership of a multifamily property.

Check out Jennifer on social media:

LinkedIn

Facebook

Justin Fraser kicks off the premiere episode of True Multifamily with a honest look at the mistakes he made on his 40 unit apartment complex. Justin hired a company that was not the right fit to manage the property, but also took too long to make a change once that mistake was realized.

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Follow Justin on Instagram!