Wanted: Partners passionate about investing and creating new relationships with top-notch professionals in the real estate world. Are you committed to forging a path that will generate incredible wealth and opportunity for all involved?
In this episode, Wayne talks to Lee Yoder, a practicing physical therapist turned full-time real estate investor focused on faith, family, and building a business. He quickly built a portfolio of several small apartment buildings. Lee is the founder of Threefold Real Estate Investing and host of the Threefold Real Estate Investing Podcast.
Topics on Today’s Episode:
- Career: From climbing corporate ladder to being unchallenged and unfulfilled
- Entrepreneurial Spirit: Created to feel challenged, competitive, and fulfilled—not bored
- Residential Real Estate: Why apartments vs. commercial, industrial, or retail properties?
- Good, Bad, and Ugly: How to find and buy single-family and duplex properties? Auctions
- Goal: Go bigger, but stay smaller by owning 1,000 units in 10 not 100 buildings
- COVID-19: Tenants continue to pay rent or can be evicted despite unemployment
- Lessons Learned: Walk all units due to deferred maintenance leading to lots of money
- Vacancy Rates: Buy property, do what’s needed to improve value, and fill units
- Property Management: If you want nothing to do with managing people, hire someone
- Future: Syndicate by believing in economies of scale and on-site property management
- Risk Management: DIY or ask property management to get contractor/insurance quotes
- Masterminds and Mentors: Learn as you go and ask for help from those with experience
- Routine Habits: Stay focused and motivated by compounding wealth, commit to process
- Advice: Vett sponsor and select one with integrity and experience to be put at ease
Links and Resources:
Threefold Real Estate Investing
Threefold Real Estate Investing Podcast
info@threefoldrei.com
Phone: 937-400-3044
Lee Yoder on LinkedIn
Xome
National Real Estate Investor Association (REA)
LoopNet
Centers for Disease Control and Prevention (CDC)
The Compound Effect by Darren Hardy
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast
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