RMFI Academy

RMFI Academy Jen & Stacy Conkey are the Founders of Remote Multifamily Investing Academy™

Starting your multifamily real estate journey can be exciting, but it’s easy to fall into common traps that could derail...
11/06/2024

Starting your multifamily real estate journey can be exciting, but it’s easy to fall into common traps that could derail your progress.

Here are the top 5 mistakes new investors make—and how to avoid them:

𝟭. 𝗢𝘃𝗲𝗿𝗮𝗻𝗮𝗹𝘆𝘇𝗶𝗻𝗴 𝗪𝗶𝘁𝗵𝗼𝘂𝘁 𝗧𝗮𝗸𝗶𝗻𝗴 𝗔𝗰𝘁𝗶𝗼𝗻: Analysis paralysis is real.

While research is crucial, at some point, you have to take the leap. Remember, no deal is perfect, but action gets you closer to your goals.

𝟮. 𝗨𝗻𝗱𝗲𝗿𝗲𝘀𝘁𝗶𝗺𝗮𝘁𝗶𝗻𝗴 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗡𝗲𝗲𝗱𝘀: Managing multifamily properties is no walk in the park.

Easy answer should be to just hire a professional property management team to ensure your investment runs smoothly, right? But finding the right team to help you without gouging your profits can sometimes be tricky.

(Keep reading and we'll share a resource for how to find the best property managers)

𝟯. 𝗙𝗮𝗶𝗹𝗶𝗻𝗴 𝘁𝗼 𝗕𝘂𝗱𝗴𝗲𝘁 𝗳𝗼𝗿 𝗥𝗲𝗽𝗮𝗶𝗿𝘀: Unexpected repairs happen.

Always set aside a contingency budget to cover maintenance, repairs, and other surprises.

𝟰. 𝗡𝗼𝘁 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗮 𝗦𝘁𝗿𝗼𝗻𝗴 𝗡𝗲𝘁𝘄𝗼𝗿𝗸: Your network is your biggest asset.

We're going to say that again: YOUR network IS your biggest asset.

Surround yourself with other investors, property managers, and mentors to help guide your decisions and bring in new opportunities.

Don't know where to find the quality people for your network? Hang on for 1 more pitfall and we'll share with you.

𝟱. 𝗡𝗲𝗴𝗹𝗲𝗰𝘁𝗶𝗻𝗴 𝗗𝘂𝗲 𝗗𝗶𝗹𝗶𝗴𝗲𝗻𝗰𝗲: Always conduct thorough due diligence before purchasing a property.

Ensure you're aware of any issues before committing, from structural problems to financial records. We have a whole checklist of things to check for in the due diligence period that you'll want to be sure you don't miss.

Want to avoid these pitfalls and more? We're meeting with a whole group of new and experienced investors this week; keep an eye out for a sneak peak of how to get access to 2025!

When it comes to multifamily investing, your success isn’t just about the properties you buy—it's about the relationship...
11/01/2024

When it comes to multifamily investing, your success isn’t just about the properties you buy—it's about the relationships you build.

From property managers to financiers, investors to partners, your network plays a pivotal role in your ability to scale and succeed.

Why?

Because multifamily investing involves big numbers and big responsibilities.

Not only can a good network help you find, finance, and close on the best multifamily deals, but a good team of experts who can help you repairs, manage properties, and maximize earnings while reducing risk of losses.

Your network gives you access to deals, resources, and partnerships you couldn’t achieve alone.

Want to succeed faster?

Surround yourself with people who are already where you want to be. The more you invest in your network, the more your net worth will grow.

Ready to expand your network and unlock your next opportunity? Join us at WOWLive next month to connect with top investors, gain insider knowledge, and grow your portfolio.

Learn more at live.warriorsofwealth.com/live2024

10/30/2024

When Debbie & Felicia first started in multifamily real estate, it wasn’t just about building wealth—it was about securing their future.

The thought of reaching retirement and having to choose between essential needs like food, medicine, or electricity was terrifying.

That’s why they turned to multifamily real estate—to create a stable, consistent source of income that provides long-term security.

For for them, it wasn't just about time freedom today, but about knowing they'd be safe and secure in the years to come.

Retirement shouldn’t be filled with worry or uncertainty.

It should be about enjoying the fruits of years of hard work, with the confidence that your future is taken care of.

Multifamily real estate has given Debbie, Felicia, and many others the opportunity to build a legacy, not just for themselves but for future generations.

You can create this for yourself too—financial freedom, time freedom, and the peace of mind that comes with it.

Join us at WOWLive next month to kickoff your investing journey with the knowledge, systems, AND network connections to succeed!

Learn more at live.warriorsofwealth.com/live2024

Have you ever hesitated to take a leap because of fear? To invest in the property.To find a great investing partner.To c...
10/28/2024

Have you ever hesitated to take a leap because of fear?

To invest in the property.
To find a great investing partner.
To close the deal.
To just get started.

We all have.

Fear of failure, fear of the unknown, fear of not knowing enough.

But here’s the truth—fear fades with time, but the opportunities and the investing deals you don’t take can leave you with a lifetime of regret.

In real estate investing, it's rare that the deal comes around a second time.

So don't miss the opportunity because of fear.

Every great achievement starts with courage.

The challenge you’re avoiding might be the key to unlocking your financial freedom or creating the life you dream of.

Don’t let fear stand in the way.

Take that step today, because while fear is temporary, regret is forever. Let’s make bold moves, together at WOWLive next month: live.warriorsofwealth.com/live2024

Your money beliefs are the roots of your wealth.Every decision no matter how small comes with a consequence on your path...
10/23/2024

Your money beliefs are the roots of your wealth.

Every decision no matter how small comes with a consequence on your path to financial success. But every step, is one step closer to whether that may be budgeting,eliminating unnecessary expenses or investing in YOU!

Dare yourself to make one significant step towards your financial goals — no matter how small. It is this stability over time that will eventually result in the change you seek.

Let's take those goals and make them a reality, together!
Get started with our proven system at WOWLive next month.

Link to learn more in the comments!

Success

A successful investor doesn’t just buy properties—they buy in the right markets, using data and strategy. Here’s how to ...
10/14/2024

A successful investor doesn’t just buy properties—they buy in the right markets, using data and strategy. Here’s how to make sure your next investment is in a market set to thrive:

1. Research Population Growth: Look for areas with steady or increasing population growth.

More residents = more demand.

Use resources like the Google (search for "population in [city]" and ensure it's been growing since 1990).

You can also look for U.S. Census Bureau or local planning departments to track population trends.

2. Job Opportunities: A strong job market attracts people.

Some investors like to look for number of Fortune 500 companies with offices in or near the city, but that's not mandatory. Just ensure there are enough companies in the area that keep unemployment rates relatively low.

Hint: you could also search Google for the unemployment rate in a city.

High employment and wage growth drive demand for housing.

3. When you've found a region that looks promising, start to look into City Infrastructure & Development Plans.

If Meta plans to build a Data Center in the outskirts of a city in the next few years, you want to know that as it will effect where you choose to purchase.

Be aware of developing areas, major roads, or even the long term plans for the city as that can greatly affect the location you choose to invest in (and in turn, the returns of your investment).

Check city council websites or municipal planning offices for upcoming projects.

Invest in areas where these trends are rising, and your investment won’t just grow—it will thrive!

You can’t control the market, but you can control where you invest.By mastering market analysis, you don’t just find pro...
10/11/2024

You can’t control the market, but you can control where you invest.

By mastering market analysis, you don’t just find properties—you find opportunities that build wealth. Markets with growth potential give you the leverage to create passive income and financial freedom. The real secret? The right market makes your money work for you.

Here's how to get started with demographic research!

1. Go to Google.com and type in "population in [insert city name]"

Be sure to have a specific city you're looking in. You'll want to avoid doing regional or state-wide population searches as that could mislead your market research.

Usually a graph will show up giving you a visual on the population trend.

2. Be sure you can see all the way back to 1990 and up until 2022 (2023-2024 data won't show for most cities yet).

3. Ensure the population has an increasing trend!

This is your first step to mastering market research!

Hint: want to see what a population decline looks like? Search "population in Detroit" to see areas you likely will want to avoid (especially as a new or budding investor).

Start your journey to financial independence by learning where to look by going deeper with our FREE Apartment Acquisition Accelerator program to learn all the tips on market research at: www.warriorsofwealth.com/podcast

01/19/2024

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