A recent report from the International Monetary Fund said there is a high risk of recession. It doesn’t help too that inflation is on the rise, markets are unstable, and there is still the risk of a global health crisis. That’s why, as real estate investors, it’s important to invest in an asset class that is very resilient. Today, we look back at our conversations with Dan Kennedy and Charles Dobens who tell us why investing in multifamily is the best way forward.
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Dan shares his perspectives on the expenses of single-family versus those of multifamily and why he has had more joy with the latter. Meanwhile, Charles talks about why we should still be looking for deals, even during these uncertain times. Click the play button now and find out why multifamily is a resilient investment!
Key Points From This Episode:
- Dan’s move from being a professional athlete to real estate and then into multifamily.
- A little about Dan and Matt Shamus’ company, Driven Capital Partners.
- Dan and Matt’s roles at the company and how they divide the labor!
- The schedule at Driven Capital Partners; daily routines, family time, and checking in.
- Comparing the expenses of multifamily versus single-family and Dan’s experience of these.
- The gap Charles saw when he first started in multifamily and how he filled it with his work.
- Charles’s journey out of insurance into multifamily and how he’s used his legal skills in the space.
- Hear more about Charles’ motivation for starting the Multifamily Investing Academy.
- Why the shifts that are happening in the country right now are so positive for multifamily?
“There’s a real reason why I’m no longer investing in single-family homes and why I’m investing in commercial real estate and it’s just because you have the ability to achieve scale, you can purchase higher quality assets that have a better return profile and a more consistent expense, annualized basis and more consistent expense level that helps you understand what your return is actually is going to be.” – Dan Kennedy
“If we talk about the pandemic, it’s going to be a discussion in the micro world of multifamily, because I’ll tell you right now the fundamentals of the multifamily business are so strong and they’re not getting any weaker.” – Charles Dobens
“The things that are going on right now in this country are so positive for multifamily.” – Charles Dobens
Links Mentioned in Today’s Episode:
About Dan Kennedy
Dan has actively invested in real estate since 2011, focusing on single-family homes in attractive neighborhoods requiring improvements to optimize rents and long-term value. Improvements ranged from cost-effective cosmetic changes to comprehensive property-wide renovations. These improvements combined with improved property management have resulted in five investment properties with strong cash flows in three separate markets across California and Texas. Dan takes pride in managing all construction and property management meticulously. Dan is also an accredited limited partner in a $34 million student housing development project in downtown Los Angeles. Dan recently retired from a 12-year professional soccer career where he most recently played for the LA Galaxy. Dan was selected by his peers to represent Major League Soccer players as an Executive Board member for the players association. In this role, he was responsible for Collective Bargaining Agreement negotiations, strategic planning, executive team building, and budget approval. As a former athlete, Dan is passionate about educating all professional athletes on real estate investing and the tremendous benefits of establishing a strong real estate portfolio leading into life after an athletic career. Dan has an MBA from the USC Marshall School of Business.
About Charles Dobens
Charles Dobens is a multifamily investor, attorney, and mentor to multifamily investors all around the country. Charles founded the Multifamily Investing Academy, where he works with students in his Owner Forum program to train them in the correct way to acquire, operate, and own multifamily property. His legal and consulting practice has one specialty – helping new investors overcome any lack of confidence in moving toward their financial objective of owning and operating apartments. Charles is uniquely qualified to walk investors confidently through the entire process: analyzing a property, negotiating contracts, organizing funding as well as transitioning to ownership. Charles Dobens is Principal at Dobens Law and founder of the Multifamily Investing Academy. He has owned and operated over $20MM of multifamily property in my career and has represented over 1000 investors throughout their transactions.
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