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Personal Journey into Multifamily Real Estate
John Wilson worked in the corporate world for about 20 years before deciding to quite his corporate job and get into multifamily real estate full time. John shares his journey starting from his first multifamily real estate investment to the lessons learned from investing in a 17 unit apartment to what he is investing in now. He also shares advice to others who are looking into taking those first steps into the multifamily market.
Podcast Outline
[06:46] How did John get started in real estate and what was his first property?
[15:57] Discussion of the Ratio Utility Based System (RUBS) to distribute tenant costs for apartment utilities
[19:46] Advantages of replacing rent checks / money orders with online payment system
[30:02] Dealing with maintenance issues on a 17 unit apartment complex
[35:13] Discussion of cap rates
[41:18] How does John classify the apartment market in Fort Meyers relative to Tampa and St. Petersburg?
[43:49] What advice would John give himself back in 2009 when he first started?
[49:25] Concluding remarks by Eric and Steven
About Our Guest
John Wilson is CEO of the Florida Property Group. He owns income properties — primarily multi-family and commercial and is also getting into lending for house flippers. Before John started investing in real estate, he had a long corporate career with Fortune 100 companies and was a VP of sales of a publishing company.
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