#163 with David Toupin: How to Scale to Over 1000 Apartments in Five Years With Syndication

Millennial Millionaire Real Estate Podcast

English - January 27, 2021 18:28 - 41 minutes - 76.7 MB - ★★★★★ - 56 ratings
Investing Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: #162 with Scott Choppin: How to Get into Land Development From Start to Finish

Next Episode: #164 with Jonathan Farber: Working With Coaches to Buy Back Time & Building a Successful Team

In this episode, Jonathan Farber interviews David Toupin on his path from reading Rich Dad Poor Dad in college to syndicating over 1000 apartments in five years. David is a multifamily syndicator and educator based in Austin, Texas. In this episode, we delve into topics like: balancing education and execution, moving outside your home market, avoiding common pitfalls, and more!

Top Takeaways:

Balancing education and execution - 10:00 - 11:00

Most people that end up successful have adopted the 80/20 rule - 80% work, 20% learn
Fundamentally, there’s no point in learning if you never apply it
Also realize that essential learning comes through the successes and failures of practice

Getting comfortable outside your home market - 14:45 - 15:30

While it’s fine to get started nearby, it’s likely that better deals exist elsewhere
Remember that your deals have to make money, not be somewhere you want to live
Creating relationships in whatever market you pick is the key to setting up a successful operation

Rookie mistakes and how to avoid them - 15:45 - 17:00

Too many people never get to the first step and make an offer on a deal
For multifamily, underwriting is a critical skill, so make sure you’re practicing often
As much as possible, learn what you need to do by practicing it with real deals

How to bring value to David Toupin:

Check out Real Estate Lab

Resources:

Book by Robert Kiyosaki: Rich Dad Poor Dad

Book by Grant Cardone: The 10X Rule

Real Estate Lab Multifamily Apartment Deal Analyzer

Social Links:

biggerpockets.com/users/DavidT383

@realestatejedi

facebook.com/thedavidtoupin

realestatelab.com

Connect With Our Sponsor, MartelTurnkey: