Ep. 151 Jon King & Kurt Westfield: Strategic Partnerships Can Help You Transition Your SFR Portfolio to Multifamily

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Want to transition your single family portfolio to multifamily investments?

It might seem like a lot to take on, but it can be done! If you are a regular listener, you have heard past episodes with guests discussing their transitions to more scalable asset classes. While each investor has their own, individual strategy for making the transition, there is a common thread throughout most of these stories: they didn’t do it alone. Scaling your real estate investment goals through a transition to a different asset class might seem intimidating, but forming strategic partnerships can empower you to realize and achieve those goals.

The Power of Strategic Partnerships

This episode, we learn how a focused vision and a strategic partnership helped one investor successfully transition from a single-family portfolio to multifamily and promoted mutual growth.

Our guests this episode are Kurt Westfield and Jon King.

multifamily investing and finding a strategy as an apartment investorKurt is a returning guest to the show, who has spoken about his own multifamily transition in the past. He is the co-founder of WC Companies – a full service real estate investment firm, as well as an active investor in the Tampa Bay area.

 

 

strategic partnershipsJon is a single-family investor currently transitioning to a focus on multifamily. Jon connected with Kurt’s story of transition and reached out about possibilities of his own. Thus, a strategic partnership was born. Jon and Kurt are in the process of liquidating Jon’s SFR assets and purchasing multifamily properties. Jon is also forming a syndication fund – Dreamstone Investments to leverage other people’s capital into managed assets.

This episode, Jon and Kurt discuss this transition and how strategic partnerships have enabled them both to explore new opportunities on their real estate journeys. Check out this episode to find out how you can leverage and scale your investment strategy!

 

 

Ep. 150 Jimmy Clark: Lawfare – ADA Compliance and Protecting Your Property from Punitive Damages

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As real estate developers and owners, we want to ensure functional accessibility to everyone coming in contact with our property. Whether you own a retail center, apartment complex or a single-family rental, you want to make sure that everyone has equitable access to a reasonable degree. ADA compliance helps investors to recognize what parts of their property need to have universal accessibility to allow for reasonable use for persons with disabilities or limitations.

But what happens when ADA compliance goes beyond reasonable accessibility?

Real estate investors of all asset classes are subject to punitive damages lawsuits on their property. More often than not, punitive damages claims arise out of an oversight in ADA compliance. Even if you take great care in ensuring ADA compliance in your property, there may be some small accessibility issue that was overlooked that could leave you vulnerable. Sometimes, it can be a simple technicality that results in punitive damages. Whatever the case, punitive damages can cost investors time and thousands of dollars to remedy.

ada complianceJimmy Clark is the Senior Vice President and Real Estate Practice Group Leader at Harden, one of the southeast’s largest risk management and insurance firms. Part of his job is ensuring that property owners aren’t hit with punitive damages from ambulance-chasing attorneys.

This episode, Jimmy offers up some quick pointers for property owners who may not be aware of the punitive damages risks awaiting their property. He tells us the common and not-so-common things you need to look out for in order to make sure your property is fully ADA compliant and protected from damages.

Contact: jclark@hardeninsight.com or 813-367-5609

Don’t miss this episode on ADA compliance and protecting your property from punitive damages!

 

Ep. 149 Bryan Chavis: How Continuing Real Estate Education Can Open New Doors on Your Multifamily Journey

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The path to real estate investing requires two things: perseverance and know-how. You need perseverance to keep hitting the markets; networking and finding deals, but first you need to real estate investing works.

Often when we see or hear stories of struggling investors, they are missing one of these two fundamentals. You may be able to get by for awhile with investing blindly, but more often than not, that ends up getting you burned. Maybe you understand investing in a certain asset class – say single family homes. However, you don’t know what you don’t know. There may be other opportunities out there for you to scale your investing, but if you don’t educate yourself, you may never find them. A willingness to learn and adapt your strategy is essential for any investor. If you are starting on your multifamily journey, a continuing real estate education is the best way to open new doors and discover new opportunities.

Our guest this weeks understands the importance of education and perseverance.

Multifamily Property ManagementBryan Chavis is an active multifamily investor as well as author, blogger, educator. His best-selling books Landlord Entrepreneur and Buy It, Rent It Profit, outline the financial draws of investing in multifamily rentals. He also runs the Landlord Academy, through which he shares his knowledge and experience of owning and managing multifamily rentals and coaches others how to do the same. Bryan is a testament to how a continuing real estate education can open new doors on your multifamily journey. The road may get rocky and Bryan will be the first to tell you that you’re going to experience setbacks, knowledge and perseverance will see you through.

After realizing the path to his multifamily journey was appearing before him Bryan dedicated himself to learning and understanding multifamily investing with a holistic approach. Bryan worked his way up, starting on the leasing side and working his way into property management. This experience showed him the cashflow potential of multifamily properties and he was able to leverage that property management experience into equity ownership deals. By dedicating himself to a multi-faceted approach to his real estate education, Bryan managed to leverage his skills and experience into a strategy that works.

Check out this episode to learn how a real estate education can open new doors on YOUR multifamily journey!

Contact Bryan:

You can schedule a visit with Bryan at his Park Plaza property and learn more about his strategy and outlook! 800-535-2476

For more info on the Buy It, Rent It, Profit Summit and other resources, visit the Landlord Academy website.