Wheelbarrow Profits Podcast: Multifamily Real Estate Investment

In 2002, when it was time to purchase his first home, Keith didn’t buy a traditional “home.” He literally transformed from a rent-paying tenant into a real estate investor with three rent incomes overnight. How? He bought an Anchorage, Alaska four-plex building, living in one unit while renting out the other three. But soon the “dealing with tenants” reality ensued. He made mistakes like renting an apartment to girls just because they were pretty, to sympathizing with late-paying renters and never getting paid. Keith owned that first four-plex for a couple years until he even knew what terms like “cash flow”, “cash-on-cash return”, or “equity” meant. Keith learned the hard knocks from the inside by managing his own properties and tenants for 5-1/2 years. When he read a book and learned about leverage and cash-out refinances, the light bulb illuminated. Rather than just gaining this knowledge, it was acted upon and Keith’s portfolio soon grew to add a second four-plex, then a single family home, then out-of-st