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b"In this episode,Terrance Doyle discusses the value-add multi-family investment strategy. He shares insights on what sets his success apart from others who may not be as successful with his strategy, and also highlights common pitfalls and risks associated with the value-add strategy. Terrance also shares how he has set up his business to avoid these issues.\\n\\xa0\\n[00:01 - 07:00] Exploring the World of Value Add Multifamily Investing\\nTerrance shares his background and how he started in value add multifamily investing\\nValue add deals typically require a lot of construction and property management work\\nValue add means doubling the rent, buying below market value\\n\\xa0\\n[07:01 - 15:26] Insights on Finding and Overcoming Pitfalls in the Multi-family Market\\xa0\\nValue-add deals require a lot of construction and property management work to be done\\xa0\\nBuy in neighborhoods with a lot of infrastructure and development going on\\xa0\\nDifferentiating between the condition of the building and the location of the neighborhood is key \\xa0\\n[15:27 \\u2013 28:34] Navigating the Changing Market\\xa0\\nFocus on buying off-market deals that are outdated and in need of renovation\\xa0\\nBuild strong relationships with a small number of brokers that know their buy box\\xa0\\nLand prices may decrease in the future, providing opportunistic investment opportunities\\xa0\\n\\xa0\\n[28:35 - 33:45] Closing Segment\\nQuick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.\\xa0 Learn more about Personal Capital at escapingwallstreet.com\\xa0\\n\\nWhat is the best investment you've ever made other than your education?A 100-unit property he bought in Des Moines for $4 million\\n\\nTerrance Doyle\\u2019s worst investments?First company he started and the 2 tech companies he invested in early on\\n\\nWhat is the most important lesson you\\u2019ve learned in business and investing?Have empathy and invest in yourself\\n\\n\\nConnect with Terrance Doyle:\\nSocial Media : LinkedIn, Instagram\\n\\xa0\\nInvest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/\\nParticipate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.\\nJoin our Passive Investor Club for access to passive commercial real estate investment opportunities.\\nLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\n\\xa0\\nTweetable Quotes:\\n\\u201cIt's better just to be patient and wait for deals to come to you and be able to play off of that advantage.\\u201d - Terrance Doyle"