Multifamily Podcast Network

Kyle Mitchell, Co-founder of APT Capital Group, joins us on today’s episode to share his background as a successful operator and asset manager. Kyle has a background in property management at golf courses in CA which helped him developed his skills in asset management. His investing career started with his first house hack in 2010 and then after learning more about investing, started investing in single family turnkey homes. 

 

He began seeking alternative investment opportunities in 2015 which led him to multifamily. After discovering multifamily and prior to getting into his first deal, he quit his W2 and focused on real estate investing full time. Getting educated and switching his mindset were the keys to getting through the challenge of going full time as a real estate investor.

 

He and his wife began their networking by starting their own meetup and started their podcast which helped grow their confidence. While expanding their network, they stayed dedicated to their goal of getting into their first multifamily deal. They would sometimes drive hours away to other markets at 2:00 AM to conduct property tours and network with brokers.

 

Their first deal offered several challenges prior to close however, they were able to trouble shoot and problem solve to seal the deal. 

 

Asset management is vitally important to executing your business plan. Kyle shares some of his tips on how to successfully manage your assets.

 

1.     Using a CRM for communication and follow up

2.     Keeping accurate and timely documentation

3.     Pay attention to details and follow up

4.     Identify priority items and communicate that with your property management team

5.     Work with a property management team that is flexible and can adjust to your specific needs (reports, communication, KPI’s, etc)

6.     Vet your property management by monitoring their responsiveness, transparency, flexibility; conduct property tours with the property manager to gauge how they function and operate

7.     Build a strong relationship with your property management team-treat them like people and partners in your deal; treat them with respect and show gratitude for their services

 

Confidence comes with each deal. Build a team and don’t be greedy!

 

Kyle shares his strategies he’s implementing now during the COVID-19 pandemic:

 

1.     Waiving late fees and charges

2.     Performing lease audits and understanding each tenant’s circumstance

3.     Providing resources to tenants to help them with possible unemployment or loss of income

4.     Lease modifications

5.     Considering withholding distributions from investors to preserve operating capital

6.     Over communicate with investors

 

Want to connect with Kyle, you can reach out to him at 562-833-5010 or at his website at www.aptcapitalgroup.com to receive a free passive investor guide. Also, make sure to subscribe to his podcast, “Passive Income Through Multifamily Real Estate.”

 

Tune in next time!

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