Ep #75: Actionable lessons and strategies from Multi-Family Industry Expert - John Wilhoit
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.8 • 679 Ratings
🗓️ 22 June 2015
⏱️ 54 minutes
🧾️ Download transcript
Summary
In this week's show we'll be speaking with MultiFamily industry expert, John Wilhoit. John is President of Wilhoit Investment Network, LLC, an owner and asset manager of apartments, condominiums and town homes. John's career has focused on high volume, large-scale multifamily communities including market rate and mixed-finance developments. He has previously held positions with the U.S. Department of Housing and Urban Development (HUD), Apartment Investment Management Company (AIMCO) and the Maryland Housing fund.
John is the author of two books: How to Read a Rent Roll and Multifamily Insight Volume 1. He is a prolific writer with more than 200 articles published related to multifamily acquisitions, property management, finance, market analysis and demographics.
Multifamily Insight is John’s blog that provides his perspective on the world of multifamily acquisitions, management and investing. Multifamily Insight is consistently at the top of internet search results for topics related to multifamily apartments, property management, asset management, finance, demographics, market analysis and acquisitions.
Here’s a few things you’ll learn in our interview with John today:
- How he got his start in the business prior to becoming an owner/operator
- The opportunity he saw in transitioning from flipping single family homes to multifamily properties
- Why he prefers to purchase properties that are within a few hours driving distance of his home residence.
- The sequential steps that John takes to indentify new promising sub-markets to invest in.
- How he defines a sub-market and why this is important to understand
- The reason you need to first indentify a qualified property management company prior to acquiring a multifamily property in a new market rather than the other way around.
- Why he feels there's no such thing as a "quality" no down deal
- What he would have done differently if he could go back to year 1 of his investing career
- Wh y to never let the deal determine the market and why he feels you need to first target your markets and then seek deals within those markets.
- Why he suggests that new multifamily investors start small (under 5 units) in order to take advantage of the easy to obtain residential financing.
- The reason that you need to first determine your exit long before entering into a deal.
- Why he suggests www.MultiFamilybiz.com for all those who are serious about staying up to date on news within the industry
- And much more
Recommended Resources:
- Download my free success guide, “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
- Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
- Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
- Learn more about Mark and his company, please visit www.MultiFamilyInsight.com
Transcript
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| 0:00.0 | You've been searching for the best way to generate passive income in your life and heard that real estate is a great way to do it. |
| 0:09.4 | But you're tired of all the so-called gurus who are all talk and no substance. |
| 0:15.3 | Get ready to celebrate because Kevin Buck has spent 14 years successfully making it happen. |
| 0:21.8 | This is the Real Estate Investing for Cash Flow podcast. |
| 0:25.2 | Now, here's Kevin Bup. |
| 0:30.1 | Hey guys, Kevin Bup here with episode number 75 of the Real Estate Investing for Cash Flow podcast. |
| 0:36.9 | We're missions to help you build and maintain massive amounts of cash flow |
| 0:40.7 | through income-producing real estate investments. |
| 0:43.6 | And this week, we're going to be speaking with multifamily industry expert John Wilhoit. |
| 0:48.9 | John has been in this industry for quite a long time, |
| 0:51.6 | and he's held many key positions as both an executive and consultant |
| 0:55.3 | with some very high-profile companies and government organizations, as well as owning and managing |
| 1:00.4 | his own multifamily portfolio. And I actually found out about John after ordering and reading |
| 1:06.2 | one of his books, which was called Multifamily Insights Volume Number One. |
| 1:15.9 | And after only reading a few chapters, I mean, I quickly realized that John really knew this business inside and out, and he was definitely someone that we needed to get on the show. |
| 1:20.3 | And here's a little taste of what you're going to learn from our interview with John here |
| 1:23.6 | today. You're going to learn how he got his start in the business prior to becoming an owner |
| 1:27.7 | operator. You're going to learn the opportunity he saw in transitioning from flipping single-family |
| 1:33.2 | homes to multifamily properties, which is what he did when he first started as a real |
| 1:37.2 | estate investor. Why he prefers to purchase properties that are within a few hours driving |
| 1:42.5 | distance of his home. |
| 1:49.4 | You can learn the sequential steps that John takes to identify new promising submarkets to invest in, how he defines a submarket and why this is important to fully understand and grasp. |
... |
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