Join Duc Ong and Vince Gethings as they chat with Brent Kawakami about how to escape the W2 rat race. Brent Kawakami is the VP of Acquisitions at Think Multifamily. He has been investing in multifamily since 2015 and has invested in over 600 multifamily units in Texas, Georgia, Kansas, and Ohio. He recounts his journey from simply wanting to learn about passive cash flow, to getting his first 100+ unit acquisition, quitting his 9-5 and finally going fulltime on multifamily investing. He also shares the challenges, best...
Join Duc Ong and Vince Gethings as they chat with Brent Kawakami about how to escape the W2 rat race. Brent Kawakami is the VP of Acquisitions at Think Multifamily. He has been investing in multifamily since 2015 and has invested in over 600 multifamily units in Texas, Georgia, Kansas, and Ohio. He recounts his journey from simply wanting to learn about passive cash flow, to getting his first 100+ unit acquisition, quitting his 9-5 and finally going fulltime on multifamily investing. He also shares the challenges, best practices and ninja tricks he learned along the way to help others who also want to leave the W2 rat race and start a more purposeful life. You don’t want to miss this!
While most people tend to define their financial freedom goals through numbers, Brent shared that he prefers not to set a specific figure for himself. He believes that the business and the number you make should be based on your lifestyle, purpose and personal enjoyment, and not just some random number. To him, going bigger just for the sake of becoming bigger is not necessarily the best thing. He added that it is important that you find what it is that’s going to give you the most fulfillment and that in itself is a great indicator on what it is that you want to achieve as you go through your own financial freedom journey.
Brent has been investing in multifamily since 2015 and has invested in over 600 multifamily units in Texas, Georgia, Kansas, and Ohio. He started investing in real estate in 2012 buying, rehabbing, and renting single family houses in the Dallas, TX area. Brent has a B.S. in Electrical Engineering from the University of Texas at Austin and is a registered Professional Engineer in the state of Texas. He has worked as a consulting engineer in the power/energy industry leading numerous multi-million-dollar projects and has been responsible for the development of over $1B in construction projects.
Outline of the Episode:
· Brent shares how he started his journey to earning passive cash flow.
· How did he decide on real estate over all the options he considered?
· Quitting his high-paying W2 jobs and how he made it possible.
· Making sure your climbing the right career ladder.
· The biggest challenges in deciding to quit your W2 job.
· Defining your own financial freedom goal, and not just by numbers.
· What is your "WHY" for building passive cashflow?
·Brent recalls his first 100+ unit acquisition.
· How the COVID-19 pandemic has affected his collections.
· Brent and Vince share their respective company's strategies to mitigate collection lost
· The best practices for managing third party managers. Making weekly calls is one of them!
· Brent & Vince share their favorite ninja tricks for increasing NOI.
· Weighing on the pros & cons of hiring VAs for your business.
· Not being pushy and being able to say "NO" as an effective approach to get potential but hesitant investors.
· The importance of having outside perspective. Listen to your wife more!
· Brent shares 2 of his favorite and highly recommended books: "Getting Things Done" by David Allen and "Happy Money: The Science of Happier Spending".
Resources:
· Think Multifamily
· The 4-Hour Work Week
· Getting Things Done" by David Allen
· "Happy Money: The Science of Happier Spending"
· Robert Kiyosaki
Connect with Duc Ong!
· YouTube https://www.youtube.com/channel/UCy6jjNXZbkUnfLMb5pZT_xg
· Facebook https://www.facebook.com/tricityequity/
