Our guest today is the Apartment Queen, Kaylee McMahon. In this jam-packed episode, we talk about multifamily investing, syndication, and how to scale your business. If you are ready to take your business to the next level and want to know what it takes to go from side hustle to full time investing, then don’t miss out on this episode! Learn more about Kaylee and her journey at reiclarity.com!
“You need to have a concept, prove that concept, and then be able to scale.”
Kaylee was always entrepreneurial. She started a personal concierge business, where she worked with wealthy people to manage their homes and schedules. However, she wanted to create a business that runs itself, and after reading Rich Dad, Poor Dad, she decided to get into real estate investing.
According to her, the key to run a successful business is to have a concept, prove that concept, and scale from there. Scaling involves the right people, systems, and advertising.
“In multifamily investing, you’re buying a business and you have to be a business leader.”
Kaylee explains how single-family and multifamily portfolios are different. Buying single-family real estate is like starting your own business, while multifamily investing is more like buying a preexisting business with its own unique problems.
While building her portfolio, Kaylee discovered that she was very good at raising capital because she is not afraid of asking questions. Now she has hundreds of units.
Kaylee is involved in syndications as well. According to her, these are the things to decide on if you want to work in syndication:
- Do you want to be an active or passive partner?
- Understand how to run the numbers and analyze deals. Match it against the return criteria and physical asset criteria
“Everything is changing constantly so you got to keep up.”
Kaylee sees many opportunities in the current recession. She is constantly evaluating the situation to be able to make the best decisions for her business. According to her, in order to be successful in these changing times, you need to understand the economy, the housing market, your deals, relationships, and the current pandemic as best as you can.
She believes in life-long learning and constantly evolving.
Mentioned in the show:
- Joe Fairless – Best Ever Apartment Syndication Book
- Paul Moore – The Perfect Investment
- Robert Kiyosaki – Rich Dad, Poor Dad
- Ryan Holiday – The Daily Stoic
- Her Youtube channel
Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
Special thanks to Kaylee McMahon for taking the time to share so many great insights with us
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