Syndication Secrets That Took Him from 0 to 500 Multi-Family Units While Traveling The World | Derek Clifford
Millionaire Mindcast
Matt Aitchison
4.8 • 721 Ratings
🗓️ 12 December 2022
⏱️ 53 minutes
🧾️ Download transcript
Summary
In this episode of the Millionaire Mindcast, we have an amazing guest, Derek Clifford who shares his real estate journe, mindset growth, the pros and cons of investing locally and out of proximity, boosting NOIs, investing personal relationships, and achieving 0 to 500 multi-family units while having time freedom to travel the world!
Derek Clifford is an entrepreneur, successful single and multifamily real estate investor, author, and podcast host of the “Elevate Your Equity” show. He is the founder and CEO of Elevate Equity, a firm that partners with individuals and companies to purchase, improve, and operate cash-flowing multifamily apartment real estate. He published his first book “Part-Time Real Estate Investing for Full-Time Professionals,” in 2019, which has helped several people get started on the path of growing their passive income on the side while working a full-time corporate job.
In August 2021, Derek successfully retired from working as a full-time Project Manager using his growing real estate portfolio to facilitate a life of travel and unlocking the three degrees of freedom: time, location, and financial. Today, he is a multifamily investor controlling 200+ apartment units with over $20M AUM.
Derek is a passionate educator and partner in cash-flowing real estate and has a goal of helping others achieve financial independence in leaving their full-time work situation to do what they really love with their time and resources. He does business to the next level while giving inspiration to other people.
Some Questions I Ask:
When we met, where are you guys financially, your life, mindset, and working towards?
How do you break free from that W2 mindset?
What is your lifestyle look like right now after that mindset shift?
What does your real estate portfolio and business look like in Elevate Equity?
How were you able to accelerate so quickly in owning 30 plus to 500 units in just one and a half years?
Why did you shift from single-family to multi-family, and how did you land in the market?
What have been some of the challenges and pros and cons in investing out of state?
What is your biggest mistake in investing in real estate?
What is that skill or your super power that you’ve got that really showed up in terms of creating real value in your investing journey?
What are your thoughts around cash flow and depreciation, and how it ties to investing strategy?
How have you been able to really grow your investor database and have them coming back?
What are you guys doing right now to protect and build around what you guys have?
What’s your outlook in the future and your thesis and investment strategy in the next 12 to 24 months?
In This Episode, You Will Learn:
Elevating mindset
Single-family versus multi-family real estate investing
Why you should know your business partner well
How over-communication style attracts investors
Derek’s dashboard of property data
Grocapitus Model that will drive decision
Quotes:
“I live more in the moment now than completely for the future.”
“It’s the mindset piece that always drives it.”
“You should be slow to higher and fast to fire.”
Connect with Derek Clifford on:
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Show Brought To You By: www.MillionaireMindcast.com
Questions? Comments? Do you have a success story you would like to share on the show?
Send us an email to: Questions@MillionaireMindcast.com
Transcript
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| 0:00.0 | Obviously, doing zero to 500 is not something that you do by yourself. |
| 0:04.2 | I mean, you could, but, you know, why would you want to do that? |
| 0:07.5 | That's a lot of work, right? |
| 0:09.0 | So by partnering up with the right people and starting to think away from the single |
| 0:13.3 | family world, which is lone wolf, doing it yourself, to going more onto the partnership |
| 0:17.9 | side and being a part of a pack, right? |
| 0:22.0 | That's how you're able to scale really, really quickly. |
| 0:36.9 | It's awesome, man. I'm doing great. How are you doing great? How are you, Maddie? I'm doing great. We my brother, Mr. Derek Clifford. How are we doing, man? |
| 0:38.5 | It's awesome, man. |
| 0:39.1 | I'm doing great. |
| 0:39.8 | How are you, Maddie? |
| 0:41.0 | I'm doing great. |
| 0:45.8 | We were just talking about, you know, we just got back from our Disney World trip with the family and you were asking, how was the trip? |
| 0:48.4 | And I was like, man, it's so, it's like an extreme sport going to Disney World, you know, with it's so magical on so many |
| 0:55.0 | levels, but it's so torturous at the same time. |
| 0:57.2 | So I'm a little jet lag today, but I'm fired up and energized to be having this conversation |
| 1:03.2 | with you because our journey goes back, you know, when we met, what, six years ago? |
| 1:10.7 | No, I think it was at a one-life event in 2016 or 17. |
| 1:15.1 | So, yeah, seven years ago, man. |
| 1:17.3 | Wow. |
| 1:17.8 | Crazy how much time has flown and met you and your amazing wife. |
| 1:23.2 | And, you know, what has transpired over the course of, you know, that timeline has been extremely |
... |
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