#186 with Kyle Mitchell: How to Get Started in Multifamily Investing & Scaling to a 150 Million Dollar Portfolio

Millennial Millionaire Real Estate Podcast

English - March 02, 2021 18:43 - 41 minutes - 76 MB - ★★★★★ - 56 ratings
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Previous Episode: #185 with David Kamara: Scaling to Over 300 Units Between His Personal and Syndicated Properties

Next Episode: #187 with Tim Gordon: Discovering a Real Estate Meetup to Completing Over $45 Million in Transactions Through SEO

In this episode, Jonathan Farber interviews Kyle Mitchell on his journey from putting his money to work in single family rentals to growing a 170 unit, $15 million managed portfolio. Kyle is an out of state syndicator and investor based in Southern California. In this episode, we get into topics like: if you should start small before multifamily, getting started on your first multifamily deal, the psychology of leaving your W2, and more!

Top Takeaways:

Is it really necessary to work your way up to multifamily - 10:45 - 11:30

If you already have operations experience, you’re primed for the multifamily model
While the market seems to swing farther, the vacancy rate adds some cushion
You can still learn all the necessary elements, and you aren’t the only member of the team

How to make the leap and do your first multifamily deal - 12:00 - 13:30

If you’re in a position with nothing holding you back, then all that’s stopping you is you
A coach is a great resource to have, and can get you through the rookie hiccups
Your most effective path will involve you applying all your most applicable skills to the deal

Getting yourself to burn the boats and offramp from your W2 - 14:15 - 15:30

Try Tim Ferriss’s fear setting exercise - what is the actual worst case scenario if you do this
If the worst that can happen is you end up back where you are, then why wouldn’t you try
If everything fails and you’re back in a job, at least you know what didn’t work

How to bring value to Kyle Mitchell:

Check out Asset Management Summit 2021 below

Resources:

tim.blog/2017/05/15/fear-setting

Book by Tim Ferriss: The 4-Hour Workweek

Virtual Asset Management Summit

Social Links:

biggerpockets.com/users/KyleM19

aptcapitalgroup.com

Connect With Our Sponsor, MartelTurnkey:

martelturnkey.com

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