From Physical Therapist to Apartment Syndicator in Three Years With Lee Yoder - REIA 476

Lee Yoder, CEO of Threefold REI, shares his journey from physical therapist to apartment syndicator and the growth of his real estate portfolio. Over the past two years, Lee has acquired several apartment complexes and transitioned from third-party property management to in-house management. He discusses the challenges and rewards of this transition, including implementing property management software and managing employees. Lee emphasizes the importance of patience in the current real estate market and advises investors to focus on the long-term game. He also highlights the mission-focused approach of Threefold REI and the company's commitment to providing quality housing for residents.
Main Points:
Transitioning from third-party property management to in-house management can be challenging but can also lead to cost savings and greater control over the properties.
Implementing property management software requires a learning curve, but it allows for better financial management and streamlining of processes.
Hiring and managing employees can be rewarding but also comes with its own set of challenges, such as payroll, benefits, and team dynamics.
In the current real estate market, patience is key as prices remain high and interest rates are increasing. Opportunities may arise as distressed owners look to sell.
Real estate is a long-term game, and success comes from operating properties well and focusing on providing quality housing for residents.
Connect with Lee Yoder:
[e-mail]
threefoldrei.com/
linkedin.com/in/lee-yoder-25793215a