MultiFamilyLegacyPodcast

Getting and closing your first deal is a big deal, especially when you learn together and create lasting memories and relationships. In Part 1, David Rosenbaum, a Kahuna Boardroom student, shared his point of view on partnering with a couple investors and fellow students to get their first deal done.

Today, for Part 2, I’m talking to Patti and David Royster, who share their perspective on that journey. Why did they decide to build a team/partnership for their first, big multifamily deal? Hold each other accountable and enjoy the journey together!

Topics on Today’s Episode:

● Closing Day: Freaking out on 59th birthday with the multi-million-dollar deal
● Golden Pineapple: Work to win coveted, sought-after, a rarely attained award
● Accountability Partnership: Guidance, leadership, legal documents, defined roles and splits, negotiation/re-negotiation, and raising money
● Residents: Moving away from Section 8 housing to better tenants to fill vacancies
● Lessons Learned:
○ If someone says they have money, prove it; show a track record
○ Where’s the service? What (and why) are we paying for?
○ Critical Dates: Don’t be a day late or pay the consequences
● Advice: Learn by doing. Fail your way forward.

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