“Multi-Family Apartment investing” – Lane Kawaoka
Lane Kawaoka lives in Honolulu, Hawaii and is a Project Engineer and Licensed Professional (PE) Civil/Industrial Engineer. In 2009, He was able to save for an A-class rental in Seattle. After discovering the difference between ‘Cashflow Investing’ and ‘appreciation investing (gambling/speculating)’… Lane moved his portfolio into 11 single family rentals in Birmingham, Atlanta, Indianapolis, and Pennsylvania. Today, Lane is laser focused on Class C & B Multi-Family Apartment investing because of this Nation’s demand for affordable housing.
“JUST GET IT!” Get your first property and get that cash flow!
MUST READ: “I read “The Millionaire Investor by (Gary) Keller. This is really the only book you need.”
ON 1031 Exchanges: Lane took his first TWO rental properties and turned them into NINE highly cash flowing properties!!! Listen in for more information and what lessons he learned!
ON TURN KEY RENTALS: Lane says you can either go to the provider and you’ll get the best price but they are not always going to have your best interest at heart. OR you can go to marketers… but they will usually throw on their fee! If you want more information on vetting Turn Key operators you’ll need to wait for his book to come out!
THE NEXT STEP: “I hit my 10 property Fannie Mae limit… and out of the 10 properties at least 1 of them goes into foreclosure a year”… then there’s the cap ex… “it’s just not scaleable.”
“Multifamily is the trajectory that I am headed in! … The US Government wants good, stable housing for the general public”… They are incentivizing investors with non-recourse debt from Frannie and Freddie.
ON BUYING MULTIFAMILY: “Be patient and hit your criteria.” And “key in on expense on the P&L – if there is less than 3K, I throw it out…”
“START WITH SINGLE FAMILY… You need experience. You need the liquidity. You don’t want to make your first mistake on a 2 million dollar property! Who the heck will work with you if you have no experience… It’s all about adding VALUE.”
WORDS TO LIVE BY:
“The quality of your life is in direct proportion to the amount of uncertainty you can live with.”
WHERE TO FIND LANE:
And look for Lane’s upcoming book: “How to Buy a Turn Key Rental.”
Thank you so much for listening!