Ep. 203: Multifamily Lessons from a 21-Year Old Syndicator with Kyle Marcotte
Ep. 203: Multifamily Lessons from a 21-Year Old Syndicator with Kyle Marcotte
One of the reasons passive investors like multifamily syndications is to leverage the time and experience of seasoned operators. So how does a 21-year old become a multifamily syndicator, while still being a student at UC Davis? If anything, it shows that you can overcome any obstacle if you are willing to educate yourself, work diligently, and proactively address the challenges.Ā
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Kyle Marcotte was 21-years old when he completed his first multifamily syndication. He now has two deals under his belt, with 119 units, valued at $5.5MM. We discussed how he overcame his youth and lack of experience, how he built credibility, despite having no experience, how his fatherās work ethic inspired himĀ
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Key Takeaways:Ā
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- Hard work does not necessarily mean financial success, which he learned from his father (amazing story!)
- How Kyle mapped out his life
- Understanding the 5 layers of wealth:Ā
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- 1. Trading time for money (working hard).Ā
- 2. Starting your own business.Ā
- 3. Investing your money
- 4. Diversifying your investments.Ā Ā
- 5. Circulating capitalĀ
Money is circulated not exchangedĀ
- From a neurosurgeon student and athlete to wholesaling, Kyle immediately knew that multifamily was where he would gain more time flexibility and wealth
- The first strategic steps Kyle took to start in multifamily investing
- Utilizing meetups to break into real estate investing
- How Kyle began his multifamily syndication career with no experience at 20 years old
- Borrowing credibility: Building a strong team and how to delegateĀ
- The details of Kyleās Louisville, KY dealĀ
- First deal surprises: Didnāt have a good investor questionnaire of where their money was coming from which is vital
- Nurturing investors during the deal process
- Key lesson learned: Always ask about the story of the property
- The second deal: Atlanta, GA. (good tenant laws)Ā
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Bullseye Tips:
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Apparent Failure:
Was working on a 9-unit deal in Austin, TX pre-Covid19, but didnāt buy it, which he is thankful for, as it would have been a headache had he done so.Ā Ā
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Digital/Mobile Resource
SlackĀ
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Most Recommended Book:
Letters From A Stoic (Seneca)Ā
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Daily Habit:
Meditation
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Wish I Knew When I Was Starting Out:
People are just people no matter their āstatusā and shouldnāt be feared or idolized
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Curious About:
Whatās going to happen to the economy and AI
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Best Place to Grab a Bite in Austin, TX
RudyāsĀ
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Contact Kyle:
Instagram: @kylemarcotte9
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