MB 250: The Best of 2020 on Apartment Building Investing

Show Notes

We’ve always said that multifamily is recession-proof, and 2020 gave us a chance to prove it. While the stock market and other asset classes suffered in the pandemic, apartment buildings continue to provide steady cashflow and a safe place to keep our money growing for the long term. So, what can syndicators do to get this message to more people and build a successful real estate investing business?

On this episode, I’m sharing the Best of 2020 on the Apartment Building Investing Podcast, beginning with last year’s biggest news—the Coronavirus pandemic. We revisit Drew Kniffin’s thoughts on the risk COVID poses for passive investors, Drew Whitson’s take on why multifamily is still the strongest asset class in real estate, and Russell Gray’s insight on how to protect your wealth in a crisis.

We look back at my conversations with Pat Flynn and Amy Porterfield on marketing to investors online and my interview with Gino Wickman around what it takes to be a successful entrepreneur. Listen in for master deal maker Garrett Lynch’s insight on choosing the right market and get inspired by BiggerPockets VP Brandon Turner’s approach to achieving BIG things with tiny action.

Key Takeaways

How COVID is likely to impact passive investors in multifamily

Unless already run poorly, virus won’t bankrupt property
Much better option than stock market (30% paper loss)

Why multifamily is still the strongest asset class in real estate

Performs well through economic disruption
Office buildings, retail and medical suffered in COVID

What makes real estate a solid investment (even in a crisis)

Fits criteria of being both REAL and ESSENTIAL
Governments support housing, energy and healthcare

What to look for in a multifamily real estate market

Resources available to operate and steady dealflow
Population, job and overall economic growth

Who should consider building a thought leadership platform

EVERYONE can build personal brand online
Place to announce, connect and prove authority

Why an email list is more valuable than social media followers

Algorithms change, you don’t own social platforms
Email list = YOUR asset for growing relationships

How to choose the right lead magnet for your audience

IRRESISTIBLE piece of free content (trade for email addy)
What avatar needs to believe to do business with you

The eight critical mistakes most entrepreneurs make

Not having vision
Hiring wrong people
Not spending time with your people
Not knowing who customer is
Not charging enough
Not staying true to your core (shiny object syndrome)
Not knowing your numbers
Not crystalizing roles and responsibilities

The eight disciplines for increasing your chances of success

Clarify vision
Decide if you’re ‘partner person’
Bigger problem = more success
Get feedback early and often
First plan will not be final plan
Work hard (really hard)
Take criticism with grain of salt
See it every night

The two kinds of ‘partner people’ in entrepreneurship

Equal partners
Give equity but maintain controlling interest

Why it’s crucial to have a clear vision for your business

Know where you want to be and take next tiny step
Ask what’s cool and write as if you’re already there

MB 250: The Best of 2020 on Apartment Building Investing

Key Takeaways

Connect with Drew Kniffin

Connect with Drew Whitson

Connect with Russell Gray

Connect with Garrett Lynch

Connect with Pat Flynn

Connect with Amy Porterfield

Connect with Gino Wickman

Connect with Brandon Turner

Resources

Listen On

Recent Episodes