Key Takeaways

Reduce maintenance costs and improve NOI by diagnosing issues remotely before dispatching technicians.

Implement a remote triage system to avoid unnecessary truck rolls and accelerate response times.

Focus virtual maintenance solutions on properties under 100 units that lack onsite staff.

Allocate dedicated time slots for maintenance teams to conduct remote diagnostics efficiently.

Don’t ignore low-priority service tickets, they still drain time, money, and resources.

Use trained virtual assistants with pre-built scripts and video tools to handle basic maintenance requests.

Episode Timeline

[0:00 – 3:00] Introduction to Guillermo Salazar and the IrisCX platform.

[3:01 – 7:00] Guillermo’s background in consulting and how he transitioned into real estate tech.

[7:01 – 11:00] Identifying inefficiencies in maintenance workflows.

[11:01 – 15:00] Remote diagnostics vs. traditional service methods.

[15:01 – 19:00] Targeting properties that benefit most from virtual maintenance.

[19:01 – 24:00] Real-life impact: IrisCX results from 5 properties and 315 units.

[24:01 – 28:00] Redefining service expectations with virtual triage.

[28:01 – 36:00] Final thoughts on the future of multifamily maintenance operations.

Contact

LinkedIn: Forrest Corral

Company Website: LTL Investments

Key Takeaways

Tap into local government programs and economic incentives when approaching complex developments.

Get creative with deal structures—there’s no one-size-fits-all in real estate development.

Build alignment in values between partners, investors, and community stakeholders before moving forward.

Focus on legacy-driven development, not just profit—what you build should serve communities for generations.

Don’t underestimate the power of relationships with city officials, planners, and local decision-makers.

Keep pushing forward even when the timeline stretches—transformational projects often take years to execute.

Episode Timeline

[0:00 – 2:30] Mike introduces Katie Kim and previews the episode’s focus on creative development.

[2:31 – 5:30] Katie shares her early background and how she entered real estate.

[5:31 – 8:30] The Kim Group’s unique approach to development and community engagement.

[8:31 – 11:30] How to use TIFs, incentives, and P3 strategies for high-impact projects.

[11:31 – 15:00] The long game in development—why patience and politics matter.

[15:01 – 19:00] Aligning investor expectations with community needs.

[19:01 – 23:00] Real-life examples of transforming overlooked spaces into vibrant assets.

[23:01 – End] Katie’s advice for new developers and closing thoughts on legacy-focused investing.

Contact

Website: Kim Group

Social Handle: @katiekim

Key Takeaways

Partnerships thrive when built on aligned goals, clear expectations, and mutual respect.

Investing in multifamily requires patience, perseverance, and long-term thinking.

Mastering due diligence ensures you avoid costly mistakes and make informed decisions.

Effective communication is essential for building trust and successful collaborations.

Learning from setbacks and remaining adaptable are critical for sustained success.

Strong mentorship and ongoing learning accelerate your growth as a real estate investor.

Episode Timeline

[0:00 – 3:00] Introduction to Roschelle McCoy and Kate Gress and today’s focus on partnerships and scaling.

[3:01 – 7:30] Roschelle and Kate's backgrounds and how they entered the multifamily real estate space.

[7:31 – 12:00] Importance of strong partnerships and lessons learned from their experiences.

[12:01 – 17:00] Challenges in scaling a portfolio and how to navigate them successfully.

[17:01 – 21:30] Effective communication strategies for real estate partnerships.

[21:31 – 25:00] How mentorship and collaboration drive business growth.

[25:01 – 28:00] Key insights on due diligence and market research.

[28:01 – End] Final thoughts on achieving long-term success through resilience and teamwork.

Key Takeaways

Communication is key in multifamily real estate, and learning industry-specific terminology is essential.

Setbacks are just setups for comebacks. Don’t let a failure stop you from moving forward.

Surrounding yourself with the right people can drastically impact your success.

It's important to find your niche in the industry, focusing on what works best for you.

Multifamily real estate is a marathon; success doesn’t happen overnight.

Overcoming fear and self-doubt is crucial when taking the first step toward investing.

Episode Timeline

[0:00 – 2:30] Introduction to Forrest Corral and the focus of today’s episode on multifamily investing.

[2:31 – 6:00] Forrest’s background in real estate and how he got started in the industry.

[6:01 – 9:00] The role of time in building wealth and why it’s the most important resource for investors.

[9:01 – 13:00] Overcoming fear and self-doubt in real estate investing.

[13:01 – 16:00] Understanding market cycles and their importance in making successful investment decisions.

[16:01 – 20:00] The mindset shift required for long-term success in multifamily investing.

[20:01 – 23:30] The significance of mentorship and continuous education in the real estate journey.

[23:31 – End] Closing thoughts on taking actionable steps toward success and key takeaways from the episode.

Contact

LinkedIn: Forrest Corral

Company Website: LTL Investments

Key Takeaways

Keep your investors engaged by consistently sharing valuable content like market updates and deal insights.

Building a robust CRM by consistently adding contacts through networking events, Zoom meetings, and meetups is critical.

The best time to raise capital is when no active deals are available, allowing for relationship-building without pressure.

Grow your network by making it a goal to meet at least five new people every week through events, meetups, or masterminds.

Don’t give up after just a few attempts. Keep following up 7 to 10 times, and even if you don’t get a response, stay consistent. Make sure you stand out and stay top of mind.

Episode Timeline

[00:03:15] - Mike and CJ discuss the importance of consistent follow-up with leads.

[00:08:30] - CJ explains that 80% of sales happen after the seventh follow-up.

[00:12:45] - Mike emphasizes simplifying communication for better engagement.

[00:18:00] - CJ talks about categorizing leads as “interested, not invested” for future opportunities.

[00:22:00] - CJ advises raising capital when not working on a deal to build relationships.

[00:25:30] - CJ shares how he engages VIP leads using their preferred communication methods.

[00:29:00] - CJ stresses focusing on what you can control and staying consistent.

[00:30:15] - Mike wraps up with a call to take consistent action in building relationships.

Contact

Website: yamadacapital.com

Instagram: https://www.instagram.com/cjyamada1/

Key Takeaways

Trust is built over time through consistent behavior and open communication. It’s vital in real estate partnerships to inspect what you expect.

Enter partnerships cautiously. Align strengths, roles, and long-term goals before committing, as partnerships often last several years.

Raising capital isn't enough; successful syndications demand operational expertise to run a viable business.

Understanding the SEC rules about soliciting investors and their accreditation is crucial to staying compliant.

Preferred returns ensure prioritized payouts but only if funds are available, and they are not guaranteed.

Engage legal counsel early in the acquisition process, ideally after a signed LOI but before due diligence ends, to ensure all compliance requirements are met.

Episode Timeline

[0:00 – 2:30] Opening thoughts on trust and successful partnerships.

[2:31 – 5:00] Building trust through consistent communication in business and partnerships.

[5:01 – 8:00] Importance of aligning roles and skills in real estate partnerships.

[8:01 – 11:00] Pitfalls of casual partnerships and how to avoid them.

[11:01 – 14:00] Why operational expertise is more critical than raising capital.

[14:01 – 17:00] SEC rules on 506B vs. 506C and the importance of compliance.

[17:01 – 19:00] Preferred returns: what they mean and the misconceptions.

[19:01 – End] Transitioning from 506B to 506C syndications and final advice for new investors.

Contact

LinkedIn: https://www.linkedin.com/in/bethanylaflam/

Instagram: https://www.instagram.com/bethany_laflam/?hl=en

Key Takeaways

Institutional investors may require a higher preferred return but typically accept a smaller equity share, offering flexibility in deal structuring.

Policies like rent control can hinder cash flow, especially in areas with rising costs, affecting property valuations and investor returns.

Population and job growth, along with household income, are vital indicators of a market’s potential to sustain rental growth and value appreciation.

Diverse employment sectors mitigate risks during economic downturns, providing stability in occupancy and rental income.

Working with city officials and economic development teams can ease processes like zoning, permitting, and provide incentives, benefiting both the property and local community.

Investors should clarify if they’re prioritizing immediate cash flow or long-term appreciation to align with property performance expectations.

Cost segregation is a powerful tool that enables investors to accelerate depreciation, significantly reducing taxable income and offering potential financial advantages.

Episode Timeline

[0:00 - 3:15] Introduction and background of the guest.

[3:16 - 8:3] Exploring the impact of institutional money in multifamily deals.

[8:31 - 12:45] The role of market conditions in deal success.

[12:46 - 17:20] Key metrics for evaluating multifamily markets, including population and job growth.

[17:21 - 23:00] Understanding the importance of NOI and cap rates in property valuation.

[23:01 - 26:35] The significance of demographics and crime statistics in asset positioning.

[26:36 - 30:10] Social impact through safe housing and community involvement.

[30:11 - 34:50] Tax benefits for real estate investors and wealth-building strategies.

[34:51 - 38:00] Final thoughts, tips for new investors, and closing remarks.

Contact

Website: https://mikemorawski.com/

Email: mike@mikemorawski.com

Key Takeaways

Start by establishing your company identity with a strong business name and an LLC, set up by a business attorney to provide a solid foundation.

Building a website is essential—even a simple one boosts credibility and acts as a digital business card to attract investors.

To develop relationships and begin raising capital, focus on networking to build valuable connections, as strong relationships are key to securing investment funding.

Use a database to nurture leads effectively. Tools like Capitalist Pro help centralize contacts, streamlining communication to guide leads into active investments.

Creating a company thesis/slide deck allows you to showcase your business to investors with clarity and polish, setting you up to make a lasting impression.

Episode Timeline

[00:00 - 01:00] Introduction

[01:00 - 03:30] Establishing Your Business Name

[03:30 - 06:00] Forming Your LLC

[06:00 - 08:30] Importance of having a professional Website

[08:30 - 12:00] Building Relationships for Capital Raising

[12:00 - 13:00] Importance of a Database

[13:00 - 14:30] Implementing Capitalist Pro as a powerful CRM tool

[14:30 - 16:30] Nurturing Leads with the Eight-by-Eight Program

[16:30 - 18:00] Mindset and Approach to Competition

[18:00 - 19:00] Introducing Mike’s New Book: Multifamily Investment Secrets

[19:00 - 20:00] Closing Remarks

Contact

Website: https://mikemorawski.com/

Email: mike@mikemorawski.com