Real Estate (Un)Success Stories

The Importance of Vetting Contractors with Axel Ragnarsson

Welcome to Real Estate (Un)Success Stories. Our host, Cody Lewis, welcomes Axel Ragnarsson with Aligned Real Estate Partners to the show to share with you the importance of vetting contractors and how critical they are to the success or failure of your project.

 

 

Aligned Real Estate Partners, which has been a principal party in $27M+ worth of transactions since inception. Currently, Aligned REP owns over 300 units of multifamily real estate valued at $28M+. Axel also hosts The Multifamily Wealth Podcast, one of the most highly rated podcasts in the industry, where he interviews real estate investors and dissects how they started, built, and scaled their businesses.

 

 

The leadership at Aligned Real Estate places an emphasis on consistent communication with their investors, complete transparency throughout the investment process, and using deal structures that align our incentives with our limited partners'. They also pride themselves on working with investors who are newer to passive real estate investing... meaning they offer lower investment minimums and increased access to deals.

 

 

Key Takeaways:

 

• It’s absolutely critical to work with the right people.
• You can’t hire a contractor based upon price alone.
• You need to get references and know who their subcontractors are.
• Don’t bite off more than you can chew.

 

 

 

Axel is active on Instagram and you can also find him on LinkedIn.

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

Getting rejected by 18 banks with Vish Muni

Welcome to Real Estate (Un)Success Stories. In this insightful episode, Cody talks with Vish Muni about the importance of being patient and the value a mentor will offer.

 

 

Vish has over 20 years of Experience as Small Business Entrepreneur, IT Professional, active real estate agent and a fulltime Multifamily Apartment investor with over $30 M - AUM. He started as a real estate investor in 2009 in single family, duplexes and fourplexes, then he transitioned to Multifamily investing in Nov 2019. Since then, Vish has invested as Limited Partner and general partner in over 7 syndications.

 

 

Key Takeaways:

 

• In real estate, you’ll only fail if you run out of one (or both) of the following: time and money.
• You need to have patience.
• You don’t need to feel like you need to do everything yourself.
• The time a mentor helps save you is worth money.

 

 

The best way to connect with Vish Muni is via LinkedIn.

 

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

Why relationships are important with Doris Ng

Welcome to Real Estate (Un)Success Stories. In this episode, our host Cody Lewis talks to Doris Ng about the struggles she’s experienced with financing a deal and tips she offers to help you avoid similar struggles.

 

 

Doris Ng is a managing partner at 2SavvySisters, a real estate investment firm. Doris has been investing in real estate since 2012 in both residential and commercial multi-family. During her Real Estate career, Doris has formed partnerships with a core group of experienced real estate professionals and trusted advisors. Currently, 2SavvySisters Investments is involved in, owns, and invests in over 450 units across multiple states., with over $35M AUM.

 

 

Doris is also an entrepreneur for over 14 years, owning and operating several businesses. She started her entrepreneur career right after graduating from college from the University of Wisconsin-Madison. Doris has been recognized locally and nationally as an influential business owner and thought leader. She has received numerous awards and recognitions, locally and nationally.

 

 

Key Takeaways:

 

• When you’re new to a market, consider working with a finance broker.
• Never let the deal die on the vine because your initial financing fell through.
• Relationships are crucial. Work with a broker that will fight for you.

 

 

 

Reach out to Doris via email and LinkedIn, or visit 2SavvySisters on Instagram and Facebook.

 

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

Lessons learned from doing business with family with Lee Johnson

Welcome to Real Estate (Un)Success Stories. Lee Johnson with Value Investment Partners joins Cody for this episode and they’re discussing the sometimes uncomfortable conversations around doing business with family and how you can mitigate a few of the common issues.

 

 

As the Co-Founder and Vice President of Value Investment Partners (VIP), Lee is responsible for implementing strategic methods to grow VIP and help partners grow their wealth using various alternative investment strategies that allow leveraging money and time, conducting and monitoring project due diligence He has been investing in real estate since 2005 through multifamily, private lending and rehabbing residentials properties. His focus now is passive investing through real estate syndications and active multifamily investing.

 

His current portfolio spans multiple markets around the country – over 2800 units valued at about $334 million. As both an active and passive investor, his approach to business is “Being an investor first” which simply means he only shares investment opportunities that he also invests in himself. He is a driving force for embodying creative use of alternative investment strategies, building generational wealth and empowering people to achieve wealth. 

 

Key Takeaways:

 

• When you fall, you’ve got to get back up.
• If you’re going to do business with family, treat the business as a business. Create the entity. Create the operating agreement, up front. You don’t want the family to be impacted negatively.
• Most new businesses that fail, fail within the first 5 years.
• Communication is key. Talk to your partner.

 

 

 

 

During this episode, Lee mentions the two books, Rich Dad Poor Dad by Robert T. Kiyosaki and It’s a Whole New Business from Gene Towbridge.

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

Property Managers, you get what you pay for with Paul Shannon

Welcome to Real Estate (Un)Success Stories. From contractors to property managers, Cody’s guest in this episode has learned lessons, both with and from them, and he’s found out through the “School of Hard Knocks”, that you indeed get what you paid for.

 

 

Paul Shannon spent his career as a sales leader and consultant for a large ophthalmology company, implementing surgical devices into operating rooms and health systems across the Midwest. Since leaving his corporate career in 2019, Paul has acquired over 100 single family and multifamily units by recycling his equity and/or joint venturing. He recently successfully refinanced 100% of his capital out of a 40-unit apartment reposition and has rolled the proceeds into a similar sized distressed property in Indianapolis.

 

 

Paul has experience in acquisitions, raising capital, property management, project management, and is a licensed Realtor in Indiana.

Along with being active in his business, Paul is a passive, limited partner in over 1,400 multifamily units, numerous industrial offerings, and ATMs.

 

 

Key Takeaways:

 

• Get up off the mat and get back at it. Learn from the mistakes you made and apply the lessons that you learned. Try again.
• You get what you pay for when hiring a contractor.
• Take the lessons you’ve learned, apply them to where you can scale. Get rid of the things you don’t want to do but, understand those functions well enough to where you can manage the manager.
• Go through the “School of Hard Knocks”.
• There’s something to say about starting small.
• Find a mentor. Find someone that’s already, “done it”.

 

 

Reach out to Paul via LinkedIn or his organization’s website.

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

Why you shouldn’t under calculate deferred maintenance cost with Lee Yoder

Welcome to Real Estate (Un)Success Stories. After only a short few seconds, you’ll catch the infectious energy and enthusiasm of Cody’s  guest on this episode, Lee Yoder. Lee was practicing physical therapist when he realized his true passion was building his own business and investing in real estate. He took this passion and considerable action to quickly build a portfolio with several small apartment buildings. He was able to swiftly reposition this portfolio, bring it full cycle, and provide an incredible return for his investors.

 

 

Today, Lee is focused on syndicating larger apartment buildings. He is the founder and visionary behind Threefold Real Estate Investing, and he’s committed to forging a path that will generate incredible wealth and opportunity for all involved. His focus is driving the business forward by forging new relationships with top-notch professionals in the real estate world and bringing on more partners to invest alongside Threefold.

 

 

Lee also hosts a podcast, Threefold Real Estate Investing, which discusses multifamily real estate investing, while also focusing on pursing better relationships with family and a better walk with Christ. Make sure to connect with Lee on Facebook or LinkedIn.

 

 

Key Takeaways:

 

• Think about and consider what success looks like to you, prior to investing.
• Are you Under capitalized for deferred maintenance or the “little things” that pop up?
• Do you know how much you need to set aside per unit, per year for maintenance costs?
• “Hang in there. You gotta stick with it. “

 

 

During his conversation with Cody, Lee refers to the book, The Compound Effect from Darren Hardy.

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

Rental market struggles with AirBNB with Alex Olson

Welcome to Real Estate (Un)Success Stories. Cody’s guest in this informative episode is Alex Olson.  As a commercial real estate investor himself, Alex understands the frustrations of not being able to locate off-market deals, not finding deals that cash flow, and running into dead ends. Once you have an agent, learn how to build out your team, identify the core components of getting a transaction done, and getting your deal across the finish line.

 

 

Having helped clients complete over $50mm in sales through 35+ transactions, Alex is an expert in helping 1031 Exchange clients. Alex and his Colleague Logan Freeman are taking real estate brokerage to the next level. They have developed a proven system for helping 1031 exchange clients identify cash flowing deals, develop a trusted team, and ensure that your 1031 exchange money is secure.

 

 

Key Takeaways:

 

• Don’t let your enthusiasm for your perspective and view.
• Know and recognize when an opportunity or option isn’t the right fit for you.
• What are you really after?
• Real estate is always a continuous learning experience.
• You can’t want to sell something to a prospective customer more than they want to buy it.

 

 

The best two ways to connect with Alex is through LinkedIn or with a direct email.

 

 

During the episode, Cody refers to The Advanced Selling podcast and the Theory of Detachment.

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

Trust but verify with Charlie Wessel

Welcome to Real Estate (Un)Success Stories. Joining our host, Cody Lewis in this episode is Charlie Wessel, the Founder of Cordell Capital.

 

 

Charlie has also founded and managed several successful companies in the Charleston, SC area.  He’s been involved in multifamily/commercial real estate, in one aspect or another, since 2006. Cordell Capital provides conservative underwriting and extensive due diligence on their investment opportunities to make sure they’re taking the most conservative approach to investing and building wealth alongside our investors. Currently, Cordell Capital owns 364 doors in the multifamily space. A total of $23,950,000 assets under management.

 

 

If you’d like to reach out and connect with Charlie, he’s available on most social platforms, such as LinkedIn, Facebook and Instagram or on the Web.

 

 

Key Takeaways:

 

• Trust but verify . . . every time.
• How old is the roof of the property you’re interested in?
• Gutters help preserve foundations.
• What are the piping materials?

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

 

The benefits of Prop Tech and managed wifi with Todd Thorpe

Welcome to Real Estate (Un)Success Stories. In this episode, our host Cody Lewis talks to Todd Thorpe with Dojo Networks about implementing smart technology into your multi-family project and how the benefits not only attract tenants but are an asset to the owner as well.  

 

Todd is a well-respected multifamily & technology veteran with over 30 years of industry experience. For almost 20 years, he held various executive leadership positions with Charter Communications where he grew multifamily sales in the Midwest and Southeast markets by 30%.

Todd joined Dojo Networks in early 2021 as Vice President of Sales with responsibility for developing and executing sales strategies that drive revenue for the company.

 

Todd encourages you to reach out to him via LinkedIn or, feel free to send him an email.

 

Key Takeaways:

 

• How can you leverage technology to help increase your NOI?
• Internet and technology are no longer considered, “luxury” amenities. They’re must-haves.
• Make the decision to jump in early.

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.

 

I’ve got some bad news with Edmund Chien

Welcome to Real Estate (Un)Success Stories. In this episode, join our host Cody Lewis for an incredibly informative and entertaining conversation with Edmund Chien about the time he was faced with telling his clients some of the worst news they’ve received.  

 

Edmund is an experienced financial professional with over 15 years experience managing money for high-net-worth investors. He is a former senior partner of a private equity firm that managed ½ a billion in assets for accredited investors and family offices. In addition to being experienced in real estate syndications, Edmund was also a licensed stockbroker and a licensed life insurance advisor.

 

Today, Edmund is retired from the financial industry and is a coach for client facing real estate syndicators. His main coaching consists of training real estate syndicators on how to attract accredited investors. He’s spent his entire financial career mentoring junior advisors and has been doing that full time in the last 5 years.

 

Key Takeaways:

 

• If you haven't lived through a downturn, it's going to happen. You just have to accept the fact that it will happen.
• Bad news isn’t like fine wine. It doesn’t get better with age.
• Start with the hardest ones.

 

Connect with Edmond on the Web, LinkedIn or Instagram.

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.