All Forum Posts by: Tyler Jahnke

Hey @Jimmy Chao - If you're looking into turnkey rental investments, you're probably in search of cash flow. Cash flow can be found throughout the Midwest, The South, heck....I have friends that just picked up cash flowing property in the SF Bay Area.

Here's my real point though: maybe even more important than the market, is the OPERATOR. Instead of spending hours, days, weeks, and months trying to find the "perfect market" (which doesn't exist), use that time to vet, meet, and call operators. Ultimately, your dollars and investment are in their hands. They better have experience, knowledge, and integrity.

I personally started investing by working with a turnkey company (which turned out be the best learning experience I could have asked for....through MAJOR challenges), so now I things on my own and I partner, but I have a friend who has had a great experience with @Chris Clothier and his company Memphis Invest.

Best of luck!

-Tyler

Hey @Matthew Terry - I think you have many valid questions, but I also think they're ultimately not all applicable or relevant to your main question. In your quest to achieve $20k per month in passive income, your strategies, philosophies, mindset, and circumstances will all change over an extended period of time.

I don't think we can tell you to only invest in cash-flow markets. Same with, we can't tell you to only invest in appreciating markets. My personal opinion? Invest in BOTH.

There is no one right answer, one path, or a "quickest way."

You just need to take one step at a time!

Best of luck and Happy New Year!

As I've gotten older, I've become more conscious of TIME. The world's most valuable asset.

I now focus more on the delegation of responsibilities, even if that meant less return $$$ for me. Now, I partner with experienced professionals that take on a majority of the responsibilities that I didn't traditionally enjoy or am even good at.

"Start with the end in mind."

I constantly think about what my ideal life looks like. Selfishly I want to make a lot of money, create multiple revenue streams that pay me consistently, and not have much personal day-to-day responsibility. So, even though I'm nowhere near my "ideal" life yet, I'm already starting to focus on ways to achieve that.

In a nutshell, what's my #1 time-saving system? Partnership and delegation.

Hey @Ryan Rush - my advice will be VERY simple. And obvious. But it's true. And you already have the tools to succeed here seeing as you're a licensed agent and I assume you already use these strategies.

Diligently, intentionally, and consistently NETWORK.

Go to meetups or HOST your own. Connect with people here on BP and schedule phone calls with them. Join real estate investing Facebook groups. Take local investors to coffee. Build that network and if you prove yourself to be a reputable and trusted individual, money will find it's way to you.

I also think @Timothy Douglas hit the nail on the head regarding your comment on fear. Talk to your inner circle and as long as you're presenting a deal you truly believe in that you can execute, there really shouldn't be any fear. You're not trying to convince anyone to invest with you, you're simply presenting an opportunity. They'll make the decision on whether to invest or not.

Best of luck! Happy New Year! Let's make 2020 amazing.

-Tyler

Hey @Chris Long - I was in Medellin and Bogota last year and it seems like the real estate market out there is doing real well. I think a lot of that has to do with the influx of remote workers moving in from the States. I noticed a ton of investment companies out there that specialized in selling to foreign investors. Try googling real estate investment companies in Colombia...they may be able to help you find a buyer.

Best of luck! Happy New Year! Let's make 2020 amazing.

-Tyler

Hey @Andrew S. - there's no perfect strategy here. It all comes down to risk tolerance and what YOU are comfortable with. Other than my employer retirement fund, I'm personally putting a majority of my money into real estate. Maybe that's risky. Maybe that's a gamble. But, I'm very bullish on real estate when looking at it from a long-term view. I have a feeling that in 25 years, my gambles will pay off :)

Best of luck! Happy New Year! Let's make 2020 amazing.

-Tyler

Hey @Samantha Kincaid - I personally have separate accounts for each property (although my single family/small multifamily portfolio is pretty small). But, I'm also pretty meticulous when it comes to organization, accounting, and keeping proper reserves for each unit.

I'd say if you don't have any monthly service fees on the account and can sacrifice an hour at the bank setting up multiple accounts, why not?

On top of that, obviously keep track of all income/expenses separately through software or online platform (I use Tenant Cloud which is free).

Best of luck! Happy New Year! Make 2020 amazing.

-Tyler

Congrats @Ben Ryder on your financial success right now! Your initial question was regarding multifamily apartment investing and recommendations on how to get into that asset class.

I'll give you a recommendation through my personal journey. My journey into multifamily started last year and I've slowly been able to get deeper and deeper into the apartment world over the last 12 months. With lack of experience back then (only had a few single family/duplex units under my belt), I invested passively in a couple of deals (an 80-unit and a 164-unit) with the goal of starting to understand the business plans and to interact and work with people in the space that were taking action. I had little responsibility in those deals, but I got equity in exchange for my cash, and most importantly, I surrounded myself with people who were MUCH more experienced and knowledgeable than me.

Fast forward to last month, and I took on much more responsibility on the latest 94-unit deal my partners and I closed on.

In conclusion: diligently network with successful investors in the multifamily space. Learn from them. Show your value and prove your worth. Don't expect immediate results. It's a LONG GAME.

Reach out (and I invite anyone else to as well) and let's chat and connect. You NETWORK is your NET WORTH.

Best of luck. Happy New Year. Let's make 2020 amazing.

@Robert Hugs I bought 2 last year off the MLS but haven't bought any since.

Hey @Robert Hugs - the question I assume you're alluding to is...what market should you invest in?

That's a tough question. But, I'll start with this...you probably will never find the "perfect" market, but you can find really good ones. So, don't get stuck in the analysis paralysis phase. You NEED to eventually pick one and run with it, otherwise you'll be stuck on the sidelines reading forums like this :) With that being said, there are a number of metrics to look at:

• Population growth
• Job growth with higher wages
• Business friendly
• Diverse economy
• Strong occupancy rates
• Acquisition price-to-rent ratio
• Landlord friendly
• Infrastructure development
• Lifestyle amenities
• Education

Plenty of other metrics to look at too that I'm missing. I personally invest in Indianapolis, Louisville, and Phoenix and I'm really bullish on multifamily in Phoenix right now.

Let me know if you have any questions!

-Tyler