The Credibility Shortcut To Doing REALLY Big Deals with Mark Kenney

2020-01-27

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Learn about the strategy Mark focused that allowed him to replace his day job income in just two years’ time, find out Mark’s favorite ways to raise capital to get started in multifamily investing and discover how Mark leveraged having partners to start out doing multi-family deals.

Resources/Links

thinkmultifamily.com

Summary

Mark Kenney is a seasoned real estate investor, coach, two-time best-selling author, and founder of Think Multifamily. Mark started his Apartment Investing career over 20 years ago as a side hustle while working 70-80 hour work per week in the corporate world. He has purchased over 5,000 units in just the past few years in five different states.

In this episode of The Property Profits Real Estate Podcast, Mark shares his journey of investing in real estate early on in his life and having to quit his day job and replace his income in the quickest time possible. Learn the credibility shortcut to doing REALLY big deals and discover the reason why Mark things that multifamily real estate is the quickest way to build wealth.

Topics Covered:

01:01 – What led him to real estate investing

03:34 – The biggest challenge in real estate

05:53 – What one struggle people have when they first get started

06:59 – How to raise capital

09:40 – How to structure for the minimum investment

10:26 – What sets him apart from other real estate investors

13:45 – What mistakes do newbies commit when investing in multi-family properties

16:07 – How long did it take him to replace his day job income

Key Takeaways:

“No doubt, everyone almost without exception, has fear of raising capital. I was petrified of doing it. I never asked my dad for money, for anything, never asked anyone else for money. It was hard. And that’s kind of the area where people do struggle. They’re like, I don’t want to ask people, I’m going to get rejected. ” – Mark Kenney

“With raising capital, there’s no question in my mind, the easiest way to try to raise capital is to partner with somebody that has a deal already that you know, like, trust and you’re coming in and they have a track record. – Mark Kenney

“I think brokers would attest to this that yeah, you need something of value you can bring.” – Mark Kenney

“I tell people if you have an opportunity to screw somebody. Don’t do it because it’s a small world. And we just have a good reputation with sellers and brokers that we do what we say we’re going to do that are fair for people, reasonable, and we close the deals.” – Mark Kenney

“The learning process is, I would say to learn how to analyze things like that, you can do it pretty quickly. There are no substitutes for doing the deal. Everyone goes through a deal. That’s way more than I thought it was going to be, but it just gets easier as you do more.” – Mark Kenney

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