Closing deals and finally starting your multifamily journey are milestones worthy of celebration especially when at the initial stages, but that does not mean that everyone in your side is practicing due diligence and just consideration with their roles and limitations. Dr. Erin Hudson reveals her story and reminds us of the dangers of entitlement confusion and not recognizing the red flags early on. Despite these, also witness how she moved forward from this expensive and crippling mistake that helped catapult her to success in the industry.
[00:01 – 03:40] Opening Segment
- Get to know today’s bubbly guest, Dr. Erin Hudson
- How she started out in private practice and going into real estate monopoly
[03:41 – 06:48] Getting to the Finish Line for a Confidence Boost
- It’s not about the deal count or the number of units
- Starting small is strategic and it may work for you
- Bringing in partnership and capital as results show
[06:49 – 22:21] Salt on the Wound Multifamily Mishap
- Confusion on entitlement of the investors on commissions
- Acquisition fee as the saving grace and the start of fear
- Multifamily investment is not a poor man’s game
- Recognizing the red flags looking back
[22:22 – 25:12] Closing Segment
- Be consistent with your morning routine
- Final words
Tweetable Quotes:
“Just like the multifamily space, it's really about doing right for people and not being manipulative, and truly helping them as if they were your brother or sister.” – Dr. Erin Hudson
“So people laugh like, oh my gosh, why did you start so small? No, it was a matter of getting strategic and it worked for us.” – Dr. Erin Hudson
“If you always have your eye on the prize, which is to take care of your people and water that relationship and do good by people and do right kind of business, you will have a trough of investors and you will forever have a successful business because people will know exactly who you are and what you stand for.” – Dr. Erin Hudson
Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3
Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB
Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC
