Great show this week with Lee Yoder for investors both large and small – we learn how Lee was able to transition from a career in physical therapy to replace his income in a short period of time with multifamily real estate. Lee talks about how he found great deals on Loopnet (most people say you can’t!) and what he learned in the turnaround process, such as managing the rehab, implementing better management, and much more. Lee also talks about why the syndication model may not make sense for a lot of investors… so if you’re someone who wants to grow your portfolio but doesn’t want to focus on raising capital, you’ll want to listen.
Show Notes:
3:35 Lee shares his background as a physical therapist and how he got into real estate.
7:32 We discuss the differences between working in the corporate world vs. owning a business and we learn the challenges Lee faced when leaving his job.
10:39 Lee shares the details regarding his first flip.
13:30 We discuss Lee’s favorite aspects of real estate
16:48 Lee talks about how he learned to underwrite deals and how he began acquiring larger multifamily properties.
21:15 We discuss how Lee financed one of his larger deals and what he learned after he closed and began executing his business plan.
29:58 Lee shares what he is currently focusing on in his business.
35:00 We discuss why Lee is focusing on larger multifamily properties and why there is more competition relative to smaller properties.
39:00 Lee gives tips to investors looking to scale their business and acquire larger properties.
43:53 Lee shares his biggest business-related failure and what he learned from it.
46:10 We discuss how networking is essential in real estate and why it can help you grow.
47:30 Lee discusses his short term goals.
CONNECT WITH AXEL
https://www.instagram.com/multifamilywealth/?hl=en
https://www.linkedin.com/in/axelragnarsson/
Download my investor toolkit (cash flow calculator, investor pitch deck, scope of work template, and renovation checklist) here.
CONNECT WITH LEE
https://www.linkedin.com/in/lee-yoder-25793215a/
https://threefoldrei.com/
