From the archive: This episode was originally recorded and published in 2019. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.
Mark & Tamiel Kenney are real estate investors with 25 years of multifamily experience. Think Multifamily’s mission: Help people retire early though real estate investing.
ThinkMultifamily.com – Learn more about how you can preserve & grow your wealth using real estate!
Tamiel’s Email – Connect with Tamiel!
3 Value Bombs
1) Don’t focus on becoming an expert on things that you don’t like.
2) Leaving a legacy is more than just leaving money to somebody; it’s leaving something of value that can change a life, a family, or a community.
3) When looking for a mentor or a partner, make sure you are not compromising your own character or values.
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: Cracking the Code in Apartment Investing with Mark and Tamiel Kenney
[0:56] – Tamiel shares something about herself and Mark that most people don’t know.
- They are both twins. Mark has an identical twin and Tamiel has a fraternal twin.
[1:57] – Why would somebody want to invest in apartments?
- They started out with investing in stocks and bonds, but realized quickly it was more logical to have a house to live in versus a piece of paper.
[4:34] – How realistic would it be for new real estate investor to start with large apartments?
- Match up your skills with somebody who has skills you do not have, and work together as a team. Then you can take on larger projects.
[6:17] – Why do some people win and some lose in the real estate niche?
- If you are in the business long enough there is a good chance you are going to have a loss.
- Training, practice, and having experience is very important.
[8:23] – What is the best way to partner up with someone who has experience?
- You need to develop a skill that is valuable to other people.
- Figure out what you’re good at, what you like, and what you don’t like… Don’t focus on becoming an expert on things that you don’t like.
- If two people in a partnership think exactly the same, one of them is unnecessary. Look for people who complement your skills.
[11:50] – Tamiel, talks about Active Investing versus Passive Investing. Which is better for Financial Freedom: Active or Passive Investing?
- You can be an Active Investor even if you’re a Passive Investor.
- Active Investing is the best way to financial freedom.
[13:23] – Mark gives an example of Passive versus Active Investing.
[16:25] – A timeout to thank our sponsor!
[18:50] – What is it like working with your spouse?
- It gets rough some days, but what matters is how you work around your challenges. It’s all about growing personally and growing together.
[22:16] – How and why are you getting your kids involved in the business?
- To build a family legacy; it’s not just one person going out and creating income for the family – it’s getting the whole family involved.
- Leaving a legacy is more than just leaving money to somebody; it’s leaving something of value that can change a life, a family, or a community.
[25:15] – Is there a benefit to working with a coach?
- There is; an experienced coach will help you identify potential issues much faster than someone who is new to the business.
[28:17] – How is your coaching different than others?
- They are very responsive and more involved.
- It’s not just business for them, but a family.
[31:36] –Mark and Tamiel’s parting piece of guidance
- The culture of any group stems from its leadership. Family and family values are very important. Nobody gets left behind.
- Get good at something quickly, and then start adding value to other people; find somebody that is doing what you want to do and partner up with them
- When looking for a mentor or a partner, make sure you’re not compromising your own character or values.
[33:41] – Learn more about Mark and Tamiel!
- ThinkMultifamily.com – Learn more about how you can preserve & grow your wealth using real estate!
- Tamiel’s Email – Connect with Mark & Tamiel!
[36:39] – Thank you to our Sponsor!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!