On the show today, we welcome Paul Worcester of Worcester Investment and the founder of Simplifyy, a new platform for property management that makes the process that much easier and cheaper for multi-family investors! This system was developed in response to Paul’s own frustrations with antiquated systems in the real estate business and what he sees as an ignorance of the possibilities that technology offers.
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In our conversation, we cover the amazing story of how Paul and his family got into the real estate world after reading Rich Dad Poor Dad and taking out a second mortgage! We hear from Paul about the growth they experienced when they started working in Kansas City and the early switch they made from single to multi-family. From there, we really dig down on Simplifyy and the reasons Paul believes it can change the game forever! He does a great job of explaining how it removes unnecessary costs and personnel from the process and how this can benefit investors and residents equally. Paul shares the time horizons and steps in the process of getting started before sharing a bit about his personal life and how he likes to give back to families. Join us for all of this and more!
Key Points From This Episode:
- The story of how Paul went into business with his family using a second mortgage!
- Moving the business to Kansas City and how it grew in the new area.
- The jump from single-family to multifamily and why Paul and his team did this early on.
- Mindset shifts and the philosophy of success; what types of deals to look for.
- The value that Simplifyy offers its users, bringing together the disparate parts of real estate.
- The amount of automation and replacement that can happen on a management team.
- Self-management under Simplifyy and what this looks like after installation.
- Looking at employee numbers with this new framework.
- The dissatisfaction that led to the development of Simplifyy.
- The complete package of convenience that Simplifyy offers, making older management obsolete.
- Timelines for getting set up with Simplifyy and the immediate rewards!
- Applying the principles from industry leaders to the multi-family property game.
- How humility and openness have contributed to Paul’s businesses’ success.
- Paul’s passion for helping families get back on their feet and into homes.
[bctt tweet=”The first thing I would say to anyone is you’ve got to find a worthy deal. — Paul Worcester” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Paul Worcester
Paul grew up lower middle class in Eugene, Oregon. At age 24, after reading Rich Dad Poor Dad, Paul borrowed his parent’s life savings of $200K and went into business with his two younger brothers and father to found Worcester Investment, partnering with over 80 investors to syndicate over 4,000 multifamily units totaling over $400M in Kansas City, building a property management company of over 140 employees. Paul became frustrated and fed up at traditional property management, leaving his family company to found Simplifyy with $2M of his own money. Simplifyy is transforming the multifamily property management industry helping owners boost profits by leveraging technology to bundle costs.
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