BROADCASTS.com

b'How do real estate investors identify potential markets for multifamily investing?\\n\\xa0\\nToday, Jen and Stacy Conkey, two experienced real estate investors, discuss strategies for scaling up in real estate investing - especially in multifamily- such as looking at job and population growth to narrow down market searches, having a contingency plan, and going beyond one\'s local area for greater opportunities. They emphasize that teams can provide expertise and knowledge that an individual investor may lack but urge investors to build relationships with team members for successful investing. They suggest starting small with manageable deals before going deep into it, speaking confidently by using the word \\u201cwe,\\u201d and having the right motivation (not wanting to get rich quick), sufficient time, and support from family or friends. Let\'s dive in!\\n\\xa0\\n\\xa0\\n[00:01 - 06:48] How to Build Wealth with Real Estate: The Remote Multifamily Investing Academy\\n\\u2022 How to build wealth with multifamily real estate\\nThe Remote Multifamily Investing Academy\\n\\u2022 How to select markets and reasons why people fail in multifamily\\n\\u2022 What flippers and single-family investors need to know to take real estate to the next level\\n\\xa0\\n[06:49 - 13:46] Digging Deeper Into Scaling and Multifamily Real Estate Investing\\n\\u2022 Network is vital in real estate investing, no matter the asset class or strategy\\n\\u2022 The misconception that people need to touch, see, and feel real estate to invest\\n\\u2022 Look at properties from a perspective of what if things hit the fan and have a contingency plan\\n\\u2022 In-person market due diligence is essential for boots-on-the-ground experience\\n\\xa0\\n[13:47 - 20:09] How to Acquire Your First Multifamily Property\\n\\u2022 How to lead teams to identify the best possible team in a market\\n\\u2022 Data-driven decisions and use of technology to have eyes on the property\\n\\u2022 Build relationships with team members motivated by money and grow wealth together\\n\\u2022 Educate yourself and prepare for conversations\\n\\xa0\\n[20:10 - 26:26] The Key to Real Estate Success is Growing Your Network\\n\\u2022 Use the word \'we\' when talking to people and practice in a market you\'re not planning on investing in\\n\\u2022 People fail in real estate due to wrong motivation, wrong expectations, lack of time, and lack of support\\n\\u2022 Mastery takes time, and people should not jump into bigger buildings without understanding what they\'re doing\\n\\u2022 The significance of joining networks and growing them\\n\\xa0\\n[26:27 - 34:42] Closing Segment\\n\\u2022 Best investment: Joining networks and masterminds\\n\\u2022 Worst investment: A motel that required staff and an understanding of seasonality\\n\\u2022 Most important lesson learned: Due diligence and surrounding yourself with people playing at a higher level\\n\\xa0\\n\\xa0\\nQuotes:\\n\\xa0\\n"Anytime you\'re in a market, you\'re looking at things, filtering everything through your experience, whether positive or negative. And that might have absolutely nothing to do with how the real estate will perform." -\\xa0Jen & Stacy Conkey\\n\\xa0\\n"We all make decisions based on emotions. That\'s where we\'re naturally drawn. But when you pull yourself, and you have that distance, you look at the numbers, if they don\'t pencil out, you\'re going to be less inclined to be emotionally attached to the experience you had while you were there." -\\xa0Jen & Stacy Conkey\\n\\xa0\\n\\xa0\\nConnect with Jen & Stacy:\\n\\xa0\\nFacebook: Apartment Investing with Jen & Stacy\\nWebsite: rmfiacademy.com\\n\\xa0\\n\\xa0\\nApply to Invest with Taylor at\\xa0www.investwithtaylor.com\\n\\xa0\\nTrack your wealth for free with Personal Capital, go to\\xa0www.escapingwallstreet.com\\n\\xa0\\nPlease leave a review and help others escape Wall Street and build wealth on Main Street!'