October 18, 2024 • 20 mins
Ever wondered how you can break free from the traditional 9-to-5 grind and create a life of flexibility and financial freedom? In our latest episode of the CRE Rundown, Amanda Larson, the founder of AmaX Equity, shares her compelling journey from electrical engineering and construction project management to becoming a multifamily real estate investor. Amanda offers a wealth of knowledge on making the leap from a steady W-2 job to the exhilarating world of real estate investing. She opens up about her early experiences, the transition from single-family rentals to multifamily investments, and how her engineering background has been a game-changer in her real estate career. Tune in to discover the importance of networking, continuous learning, and how real estate investment can empower you to achieve a truly fulfilling lifestyle.
What's the secret sauce to balancing a successful real estate career with a rich, fulfilling life? Amanda Larson answers this by sharing her insights on maintaining a growth mindset, especially for women in commercial real estate. Drawing parallels between the consistency required in fitness and running with building a real estate business, Amanda discusses the significance of lifestyle integration, problem-solving, and mental clarity. She also delves into the broader impact of creating abundance by merging passion with professional pursuits, offering invaluable advice for anyone navigating the multifamily real estate landscape. Don't miss this episode packed with actionable insights and inspiring stories.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Heather Ewing, CCIM (00:03):
Welcome to Heather Ewing, the CRE Rundown.
I am your host, Heather Ewing,and thank you for joining us
today.
I have a great guest who youare going to get to know in the
next 15-20 minutes, and her nameis Amanda Larson.
She is the founder of AmaXEquity.
Welcome, Amanda.
Amanda Larson (00:22):
Thank you, heather.
It's such a pleasure and a joyto be here with you today, so
thanks for having me on.
Definitely my pleasure.
Heather Ewing, CCIM (00:29):
So tell us a little bit about yourself and
how you founded Ama.
Give us the skinny.
Amanda Larson (00:35):
Yeah, great.
So yeah, I'm Amanda.
I'm based in Houston.
I am a multifamily real estateinvestor, so what that means is
I find and operate multifamilyapartments and I help other
people who want to invest inreal estate but don't want to be
active.
So I give that opportunity forpeople to invest passively into
(00:59):
my deals and they get a benefitfrom the returns, the cashflow,
the appreciation and thedepreciation.
So that's the short scoop ofwhat I do.
I've been in real estate.
I bought my first single familyrental in 2010.
So I've been doing it for alittle while and got started in
(01:21):
multifamily around 2018 as apassive investor.
So moving from passive toactive.
Heather Ewing, CCIM (01:29):
All of the upside without all the work
right.
Amanda Larson (01:32):
Yeah, when I discovered passive investing, it
was literally like a light bulb, like the shining light turned
on, because for a long time Ijust thought being a landlord
was the only way.
And well, it's a good way forsome it's.
Most people don't realize whatthey're getting into.
Heather Ewing, CCIM (01:49):
Yeah, it's , it's more than a full time job
.
It's a 24 seven type of job.
They agree completely.
So, as we back up, so you're inthis sweet spot now.
But, right, people always havedifficulty merging the gap right
From where they're at, they'reprobably working at a W-2, which
(02:09):
is great, right, because that'sgreat.
Being an entrepreneur is great.
It's really whatever works foryou.
But what I like to do on thisshow is also to present
opportunities for people likeyourself, that people can get to
know and work with and invest,but also in breaking down what
were some of those crucialthings that helped you get to
where you're at.
So, as we dig into that, let'sstart with because you're in
(02:33):
construction, right.
Amanda Larson (02:35):
Yeah, my degree is in electrical engineering and
I moved from Nebraska, whereI'm originally from, and I moved
to Australia and the first jobwas on a construction site as a
site engineer and I did that forabout five years and then moved
into design and then moved intosome litigation space, so
(03:00):
really did the W-2 thing forquite a while, up until very
recently when I moved intofull-time real estate.
Heather Ewing, CCIM (03:07):
And I think that's the thing, too,
that people need to be cognizantof is that typically there's a
progression, whether it'sknowledge, whether it's
financials.
You know experience in the area, and I think you don't know
what you don't know right.
So serving yourself with thosenetworks and the people that are
doing it is ideal.
Yeah, that's.
I always say that you don'tknow what you don't know right.
Amanda Larson (03:26):
So serving yourself with those networks and
the people that are doing it isideal.
Yeah, I always say that youdon't know what you don't know
and I still don't know what Idon't know.
It applies at every stage and,as you say, real estate is a
slow progression.
It's not a get rich overnightbut not get rich quick.
It is a slow progression andsome people move a little bit
faster than others, but by andlarge it's, you know, a reliable
(03:49):
way to make a lot of money overthe long term.
Heather Ewing, CCIM (03:53):
Definitely and I think that's another
advantage of it is that you cantake it at your own pace, right?
I mean, if you want to excelquickly and amass doors or
whatever maybe it's keys, right,hotels but you can do it at
your own pace.
And that's what I really liketoo is the flexibility, just
like some people are partialcareer people and investors and
(04:18):
others are full-time and one orthe other, so really anything
does work.
Look into it and find what fitsfor your personality and budget
right.
Amanda Larson (04:28):
And I think that's like you said it so
eloquently because part of why Ibelieve in real estate so much
is because you can make it fityour own lifestyle and
supplement your lifestyle.
And make your lifestyle Notgratifying is not the right word
, but maybe more fulfilling.
You could focus more on whatyou want to focus on and use it
(04:49):
how you want to.
It's an empowering tool, I find.
Heather Ewing, CCIM (04:54):
Definitely , I agree.
So bouncing back, so workingoverseas for seven years, yeah,
also I love that.
That.
You know the engineering, theconstruction, it all ties in
perfectly with investing, yeah,and you know it's kind of like
our own consortium.
It's it's brokerage, it'sinvestors, it's construction
(05:17):
design and you know, of courseyou've got the attorneys mixed
in architect, so it's.
It's a neat circle to be a partof.
Amanda Larson (05:29):
It is.
I think it set me up.
It set me up really well.
Um, especially, I got into theproject management part of
things and so got my.
And then another little twistis, you know, I had got my MBA,
um along the way.
So it's like the, it's like theuniverse was setting me up to
do this, almost, you know, likeputting me through this
transition to get the skills andthe knowledge, and then just
(05:50):
like this growing desire to wantto move out and do something on
my own.
Heather Ewing, CCIM (06:01):
Right?
No, that people can either lookto follow up on and investigate
or they can continue past themand it becomes the wayside.
And I think it's reallyimportant because so many people
I've noticed want to know withabsolute surety that if they
make this decision for the restof their life, they're gonna,
(06:21):
you know, earn this type ofpercent or you know of their
life they're gonna, you know,earn this type of percent or,
you know, have a 100% filledproperty or whatever it might be
.
But anyone that's been in theindustry knows that there's
always wins, there's losses, andit's performing the due
diligence so that you do setyourself up for the best
decision.
But nothing's perfect in life,right?
Amanda Larson (06:40):
Yeah, nothing, nothing is perfect.
And and again, going back fullcircle, it's your w2 is not
perfect either, and so part ofyou know part of why I do what I
do is to give that people,people, another stream of income
to increase their stability inlife.
Because I live, I worked, in avery cyclical sector and so we
(07:03):
went through layoffs over andover.
Every couple of years.
There was like you either makeit or you don't, and it's really
uncomfortable.
And to have those passivestreams of income just knowing
that that's there puts the powerback into your place where you
can feel comfortable where youare.
And what happens with life withyour W-2, you know you'll get
(07:24):
through it and go on to the nextone where, if you don't have
that, it's a very scary place tobe.
Heather Ewing, CCIM (07:30):
Um, definitely so, going back to
australia again, I love, I loveeurope and overseas just like
you do yeah, we're bothtravelers exactly where would
you say on because you've hadmany travels?
Where would you say thataustralia, just like you do?
Yeah, we're both travelers,exactly when would you say on
because you've had many travels?
(07:50):
Where would you say thatAustralia fits in with some of
your others?
What are your top three?
Amanda Larson (07:52):
Yeah, so my top three.
So Australia was.
You know, I was there for sevenyears, so it was.
It's a great place to travel,great place to visit, but when
you're there working, living,it's you're working and living.
You're not always traveling.
For me, what I love abouttravel is to go somewhere
completely different, not how Ilive my day to day.
(08:16):
So Australia is not that for me.
Australia was somewhere where Icould speak the language,
finish my degree and transitionmy life there.
But in terms of traveling, Ireally liked Turkey.
I went to Istanbul last summerand I love that.
Mexico I go a few times a year.
(08:38):
I love Mexico, and then I wouldsay it's tough.
I'm going to say Thailand, yeah, I have not been there.
Heather Ewing, CCIM (08:49):
Yeah, I'll have to keep adding to my list
with these.
Yeah To say you know the marketis ever-changing.
That's the one constant.
What are you noticing as far asthe market and ways that you're
able to help the people thatinvest with you?
Amanda Larson (09:09):
so right now.
So I focus on multi-family andmulti-families going through,
like you say, transition phaseright now and and what I'm
seeing there's.
So to give your listeners maybea bit of background if they're
not aware.
So multifamily kind of got intoits peak around 21, 22, a peak
(09:32):
in terms of prices, and thenthere's been some instability on
the debt side of things.
People took out some short-termloans.
Those loans are strugglingright now and it's caused prices
to decline and so right now,multifamily is on sale roughly
(09:54):
where I am like 20%, 25% fromthe peak, where I am like 20,
25% from the peak, and so for meit's I look at it as a
fantastic buying opportunity toget in at a lower price than
what you could have the last fewyears, secure some long-term
debt and then benefit on theoutside.
For me, this is like theequivalent of.
(10:16):
For me, this is like theequivalent of 2009, 2010, 2011,
after the GFC, which is when Ibought my first single family
and I wish I would have bought,you know, 10 more if I could
have.
Heather Ewing, CCIM (10:29):
Exactly the hindsight of 2020, right.
Amanda Larson (10:33):
I mean, if we learn from those lessons and
apply the same philosophy today,I think it's a really great
opportunity for people to get in.
The challenge is, people are alittle bit nervous because they
don't know.
They want to wait for thebottom, but no one knows that
the bottom is here until thebottom has passed.
(10:54):
Bottom has passed, and so it'sgetting past that and
recognizing that real estate,regardless of when you buy, is
going to be.
It's a durable, durable product.
It's surviving the ups anddowns, and I think that we are
near the bottom now, and so it'sjust riding the wave back up
and so it's an endurance race,right it is.
Heather Ewing, CCIM (11:18):
Yeah, If you're well equipped, you know
from the mindset, well connectedand also have the numbers to
sustain, that's where it allcomes together.
So what would you say?
Was there a person?
Was there a book?
Was it your MBA?
What would you say helped youto facilitate this transition?
Amanda Larson (11:41):
The transition from my W-2, do you think Right?
So the biggest transition.
So real estate's been part ofmy life.
I grew up in a real estatefamily.
Like they owned a lot of singlefamilies, so I saw the
landlording side of things.
But in terms of making thetransition and deciding that I
wanted to do this full time, itwas I was attending a meetup in
(12:02):
Houston and trying to getknowing that I wanted to get
more involved in real estate,but not knowing exactly what I
wanted to do with it,recognizing that it was a good
investment.
And I attended a meetup and itwas about multifamily
syndications and I didn't knowsuch a thing existed.
Even being kind of in the realestate space, I didn't know that
(12:24):
you could invest passively insomeone else's deal, and so that
was the first step and thengaining more knowledge and
getting more involved, Iunderstood that I really enjoyed
it.
It's like running a business.
It's not running a, it's notbeing a landlord.
It's very, very different fromthat.
(12:47):
So I loved the idea that youcould scale it, that you could
grow like, honestly, just grow abusiness out of it that happens
to be real estate and run itreally professionally and run it
based on data and numbers andfinancials and have some surety
behind it, as opposed to buyinga house and hoping you can rent
(13:09):
it and so getting more and moreinvolved in learning and
networking and understandingwhat the business was.
That made me want to transitionmore full time.
But then I would say, one ofthe biggest things than what you
can do at this, at your nine tofive job and life is more about
(13:45):
work and it's more aboutcreating abundance in your
family and abundance in yourlife, and so that's what excites
me the most about it is gettingaround.
Heather Ewing, CCIM (13:55):
Yeah Well, and that's where you perfectly
segued into my next question ofmindset.
But I agree with you of youknow, if your frame is this big,
you're definitely not going tohave, you know, these larger
multifamily and otheropportunities that do come up.
And that's where I thinkespecially.
(14:16):
I think everyone has their ownstruggles with mindset at
different times in differentways.
But I think if you were to lookcollectively, I think women
definitely play much smaller andI think you hear a lot about
just single family homes andthings like that, and I think,
just being in the commercialsector, it just seems like so
(14:38):
much more work to start with ahouse flip and this and that,
and at the same time, I'd liketo acknowledge that they're
looking to better and improvetheir lives.
But it goes back to you don'tknow what you don't know.
Right and that's also why I havethis podcast is to share with
people these great resourceslike yourself, the other
investors is to share withpeople these great resources
(15:00):
like yourself, the otherinvestors, brokers this, that
and the other thing throughoutthe entire nation.
Because it's free, it's a greatway to open your mind, make
connections, learn.
I mean I always say, if youhave a growth mindset.
It's an emporium.
There is so much to learnthrough YouTube, through people
like you started with the meetup.
I mean, if, if there's a will,there's a way, and I think
(15:20):
that's also where opportunities,people come into your life.
Resources, other things that ifyou're focused in on doom and
gloom and it's too hard and thisand that well, you're
definitely going to ensure thatthat's your life.
Amanda Larson (15:36):
So sure, yeah, yeah, and there's unfortunately
a lot of people who focus onthat.
Heather Ewing, CCIM (15:41):
So not a very different, different path.
Yeah, right, so what would yousay?
So you are a runner as well,which, of course, is near and
dear to my heart.
What are some ways that youutilize your running and your
mindset with your investing?
Amanda Larson (16:01):
yeah.
So I mean there's a lot ofparallels between running and,
like, I think, fitness andactivity in general and business
.
But it's just being, for me,like running, just like business
, is about being consistent.
So I tell people like I don'ttell people.
I, when people ask, um, likewhat, what makes me do it every
(16:24):
day, or how do I do it every day, and I just said I don't give
myself an option.
Like, even before I was a runner, I was going to the gym a lot
and I was like it's just part ofmy day, it's like taking a
shower, it's like eatingbreakfast or whatever.
Like, if you don't giveyourself the option and make it
into your day, it just becomeslifestyle and business is insane
.
It's not every day Do you wantto wake up and you know work on
(16:47):
your business and it's hard andthere's ups and downs and it's
like more ups and downs thangoing to work because you're on
your own.
But it's showing up every dayand being consistent and getting
through the hard times.
And, yeah, running reminds meof that every day.
Heather Ewing, CCIM (17:06):
Um, yeah, and then it's a great time yeah
yeah, I always say it's not, ifit's when, yeah, and I think you
nailed it on the head too,because I always say it becomes
a lifestyle and for me it isstressful what we do, right,
there's to your point.
There's so many changes andthere's big swings financially.
Otherwise, and if you didn'thave running or some physical
(17:29):
outlet, there's going to be alot of bad habits, right?
Amanda Larson (17:33):
and it's a great time to think and clear the mind
and solve problems and I'vesolved all kinds of problems or
come up with ideas when I'm whenI'm running, because there's
nothing else to do other thankind of think.
Heather Ewing, CCIM (17:46):
It forces you to be present, right yeah?
Amanda Larson (17:49):
yeah, I don't.
I'm not a big on like a bigmeditator.
I think I believe in it, butit's hard for me.
But I call my running likemeditation in motion, so it's my
time to think.
Heather Ewing, CCIM (18:03):
I agree completely, I agree completely,
I agree completely.
So my last question for you, mydear, and this is always the
big one what does living fullymean to you, amanda?
Amanda Larson (18:14):
Oh, good question , Living fully?
I think it's just coming tolife and showing up for life
with intentions.
And showing up for life withintentions, I feel like you see
a lot of people just goingthrough day to day and doing
what they always do withoutthinking about why they're doing
it or where it's taking themnext week, a year from now, five
(18:39):
years from now, and so reallyit's just deciding what kind of
life you want and then buildingyour day around that life to
make sure that it's aligned withyour goals, and then just being
present.
You know, if you show up, ifyou, if you're with friends, be
with friends.
If you're with your spouse orsignificant other, be with them
and be present with them andappreciate the time and be be
(19:04):
grateful Practice gratification.
Heather Ewing, CCIM (19:12):
That's perfect, definitely Well with
that, amanda.
I am so grateful that we wereable to connect and thank you
for sharing your wisdom with ouraudience.
Please share.
How can they?
Connect with you.
Amanda Larson (19:18):
Yeah, there's a couple ways.
So I'm very active on LinkedIn.
I think, heather, that's Lena,that's where we met, so just
Amanda Larson on LinkedIn.
I visit my website.
It's amaxequitycom,a-m-a-x-e-q-u-i-t-ycom, and
there is a form.
It's just you sign up for anewsletter, it's not.
(19:38):
You know, I'm not going to spamyou or anything like that.
It just helps us stay connectedand you can fill out questions
or whatever you want and we canjust connect and get to know
each other.
It's really about buildingrelationships and, yeah, if, if
there's ways that we can worktogether, like that's awesome.
If it's just a relationship,even you know, that's fine too.
(20:00):
So those are probably the two,probably the two best ways right
now.
Heather Ewing, CCIM (20:06):
Excellent.
Well, Amanda, thank you again.
I appreciate it and I will seeyou soon.
Amanda Larson (20:10):
Thank you so much , Heather.
It was a fun time and a greatconversation.
Heather Ewing, CCIM (20:15):
You bet Bye-bye.
Amanda Larson (20:17):
Bye.
Welcome to Heather Ewing, the CRE Rundown.
I am your host, Heather Ewing,and thank you for joining us
today.
I have a great guest who youare going to get to know in the
next 15-20 minutes, and her nameis Amanda Larson.
She is the founder of AmaXEquity.
Welcome, Amanda.
Amanda Larson (00:22):
Thank you, heather.
It's such a pleasure and a joyto be here with you today, so
thanks for having me on.
Definitely my pleasure.
Heather Ewing, CCIM (00:29):
So tell us a little bit about yourself and
how you founded Ama.
Give us the skinny.
Amanda Larson (00:35):
Yeah, great.
So yeah, I'm Amanda.
I'm based in Houston.
I am a multifamily real estateinvestor, so what that means is
I find and operate multifamilyapartments and I help other
people who want to invest inreal estate but don't want to be
active.
So I give that opportunity forpeople to invest passively into
(00:59):
my deals and they get a benefitfrom the returns, the cashflow,
the appreciation and thedepreciation.
So that's the short scoop ofwhat I do.
I've been in real estate.
I bought my first single familyrental in 2010.
So I've been doing it for alittle while and got started in
(01:21):
multifamily around 2018 as apassive investor.
So moving from passive toactive.
Heather Ewing, CCIM (01:29):
All of the upside without all the work
right.
Amanda Larson (01:32):
Yeah, when I discovered passive investing, it
was literally like a light bulb, like the shining light turned
on, because for a long time Ijust thought being a landlord
was the only way.
And well, it's a good way forsome it's.
Most people don't realize whatthey're getting into.
Heather Ewing, CCIM (01:49):
Yeah, it's , it's more than a full time job
.
It's a 24 seven type of job.
They agree completely.
So, as we back up, so you're inthis sweet spot now.
But, right, people always havedifficulty merging the gap right
From where they're at, they'reprobably working at a W-2, which
(02:09):
is great, right, because that'sgreat.
Being an entrepreneur is great.
It's really whatever works foryou.
But what I like to do on thisshow is also to present
opportunities for people likeyourself, that people can get to
know and work with and invest,but also in breaking down what
were some of those crucialthings that helped you get to
where you're at.
So, as we dig into that, let'sstart with because you're in
(02:33):
construction, right.
Amanda Larson (02:35):
Yeah, my degree is in electrical engineering and
I moved from Nebraska, whereI'm originally from, and I moved
to Australia and the first jobwas on a construction site as a
site engineer and I did that forabout five years and then moved
into design and then moved intosome litigation space, so
(03:00):
really did the W-2 thing forquite a while, up until very
recently when I moved intofull-time real estate.
Heather Ewing, CCIM (03:07):
And I think that's the thing, too,
that people need to be cognizantof is that typically there's a
progression, whether it'sknowledge, whether it's
financials.
You know experience in the area, and I think you don't know
what you don't know right.
So serving yourself with thosenetworks and the people that are
doing it is ideal.
Yeah, that's.
I always say that you don'tknow what you don't know right.
Amanda Larson (03:26):
So serving yourself with those networks and
the people that are doing it isideal.
Yeah, I always say that youdon't know what you don't know
and I still don't know what Idon't know.
It applies at every stage and,as you say, real estate is a
slow progression.
It's not a get rich overnightbut not get rich quick.
It is a slow progression andsome people move a little bit
faster than others, but by andlarge it's, you know, a reliable
(03:49):
way to make a lot of money overthe long term.
Heather Ewing, CCIM (03:53):
Definitely and I think that's another
advantage of it is that you cantake it at your own pace, right?
I mean, if you want to excelquickly and amass doors or
whatever maybe it's keys, right,hotels but you can do it at
your own pace.
And that's what I really liketoo is the flexibility, just
like some people are partialcareer people and investors and
(04:18):
others are full-time and one orthe other, so really anything
does work.
Look into it and find what fitsfor your personality and budget
right.
Amanda Larson (04:28):
And I think that's like you said it so
eloquently because part of why Ibelieve in real estate so much
is because you can make it fityour own lifestyle and
supplement your lifestyle.
And make your lifestyle Notgratifying is not the right word
, but maybe more fulfilling.
You could focus more on whatyou want to focus on and use it
(04:49):
how you want to.
It's an empowering tool, I find.
Heather Ewing, CCIM (04:54):
Definitely , I agree.
So bouncing back, so workingoverseas for seven years, yeah,
also I love that.
That.
You know the engineering, theconstruction, it all ties in
perfectly with investing, yeah,and you know it's kind of like
our own consortium.
It's it's brokerage, it'sinvestors, it's construction
(05:17):
design and you know, of courseyou've got the attorneys mixed
in architect, so it's.
It's a neat circle to be a partof.
Amanda Larson (05:29):
It is.
I think it set me up.
It set me up really well.
Um, especially, I got into theproject management part of
things and so got my.
And then another little twistis, you know, I had got my MBA,
um along the way.
So it's like the, it's like theuniverse was setting me up to
do this, almost, you know, likeputting me through this
transition to get the skills andthe knowledge, and then just
(05:50):
like this growing desire to wantto move out and do something on
my own.
Heather Ewing, CCIM (06:01):
Right?
No, that people can either lookto follow up on and investigate
or they can continue past themand it becomes the wayside.
And I think it's reallyimportant because so many people
I've noticed want to know withabsolute surety that if they
make this decision for the restof their life, they're gonna,
(06:21):
you know, earn this type ofpercent or you know of their
life they're gonna, you know,earn this type of percent or,
you know, have a 100% filledproperty or whatever it might be
.
But anyone that's been in theindustry knows that there's
always wins, there's losses, andit's performing the due
diligence so that you do setyourself up for the best
decision.
But nothing's perfect in life,right?
Amanda Larson (06:40):
Yeah, nothing, nothing is perfect.
And and again, going back fullcircle, it's your w2 is not
perfect either, and so part ofyou know part of why I do what I
do is to give that people,people, another stream of income
to increase their stability inlife.
Because I live, I worked, in avery cyclical sector and so we
(07:03):
went through layoffs over andover.
Every couple of years.
There was like you either makeit or you don't, and it's really
uncomfortable.
And to have those passivestreams of income just knowing
that that's there puts the powerback into your place where you
can feel comfortable where youare.
And what happens with life withyour W-2, you know you'll get
(07:24):
through it and go on to the nextone where, if you don't have
that, it's a very scary place tobe.
Heather Ewing, CCIM (07:30):
Um, definitely so, going back to
australia again, I love, I loveeurope and overseas just like
you do yeah, we're bothtravelers exactly where would
you say on because you've hadmany travels?
Where would you say thataustralia, just like you do?
Yeah, we're both travelers,exactly when would you say on
because you've had many travels?
(07:50):
Where would you say thatAustralia fits in with some of
your others?
What are your top three?
Amanda Larson (07:52):
Yeah, so my top three.
So Australia was.
You know, I was there for sevenyears, so it was.
It's a great place to travel,great place to visit, but when
you're there working, living,it's you're working and living.
You're not always traveling.
For me, what I love abouttravel is to go somewhere
completely different, not how Ilive my day to day.
(08:16):
So Australia is not that for me.
Australia was somewhere where Icould speak the language,
finish my degree and transitionmy life there.
But in terms of traveling, Ireally liked Turkey.
I went to Istanbul last summerand I love that.
Mexico I go a few times a year.
(08:38):
I love Mexico, and then I wouldsay it's tough.
I'm going to say Thailand, yeah, I have not been there.
Heather Ewing, CCIM (08:49):
Yeah, I'll have to keep adding to my list
with these.
Yeah To say you know the marketis ever-changing.
That's the one constant.
What are you noticing as far asthe market and ways that you're
able to help the people thatinvest with you?
Amanda Larson (09:09):
so right now.
So I focus on multi-family andmulti-families going through,
like you say, transition phaseright now and and what I'm
seeing there's.
So to give your listeners maybea bit of background if they're
not aware.
So multifamily kind of got intoits peak around 21, 22, a peak
(09:32):
in terms of prices, and thenthere's been some instability on
the debt side of things.
People took out some short-termloans.
Those loans are strugglingright now and it's caused prices
to decline and so right now,multifamily is on sale roughly
(09:54):
where I am like 20%, 25% fromthe peak, where I am like 20,
25% from the peak, and so for meit's I look at it as a
fantastic buying opportunity toget in at a lower price than
what you could have the last fewyears, secure some long-term
debt and then benefit on theoutside.
For me, this is like theequivalent of.
(10:16):
For me, this is like theequivalent of 2009, 2010, 2011,
after the GFC, which is when Ibought my first single family
and I wish I would have bought,you know, 10 more if I could
have.
Heather Ewing, CCIM (10:29):
Exactly the hindsight of 2020, right.
Amanda Larson (10:33):
I mean, if we learn from those lessons and
apply the same philosophy today,I think it's a really great
opportunity for people to get in.
The challenge is, people are alittle bit nervous because they
don't know.
They want to wait for thebottom, but no one knows that
the bottom is here until thebottom has passed.
(10:54):
Bottom has passed, and so it'sgetting past that and
recognizing that real estate,regardless of when you buy, is
going to be.
It's a durable, durable product.
It's surviving the ups anddowns, and I think that we are
near the bottom now, and so it'sjust riding the wave back up
and so it's an endurance race,right it is.
Heather Ewing, CCIM (11:18):
Yeah, If you're well equipped, you know
from the mindset, well connectedand also have the numbers to
sustain, that's where it allcomes together.
So what would you say?
Was there a person?
Was there a book?
Was it your MBA?
What would you say helped youto facilitate this transition?
Amanda Larson (11:41):
The transition from my W-2, do you think Right?
So the biggest transition.
So real estate's been part ofmy life.
I grew up in a real estatefamily.
Like they owned a lot of singlefamilies, so I saw the
landlording side of things.
But in terms of making thetransition and deciding that I
wanted to do this full time, itwas I was attending a meetup in
(12:02):
Houston and trying to getknowing that I wanted to get
more involved in real estate,but not knowing exactly what I
wanted to do with it,recognizing that it was a good
investment.
And I attended a meetup and itwas about multifamily
syndications and I didn't knowsuch a thing existed.
Even being kind of in the realestate space, I didn't know that
(12:24):
you could invest passively insomeone else's deal, and so that
was the first step and thengaining more knowledge and
getting more involved, Iunderstood that I really enjoyed
it.
It's like running a business.
It's not running a, it's notbeing a landlord.
It's very, very different fromthat.
(12:47):
So I loved the idea that youcould scale it, that you could
grow like, honestly, just grow abusiness out of it that happens
to be real estate and run itreally professionally and run it
based on data and numbers andfinancials and have some surety
behind it, as opposed to buyinga house and hoping you can rent
(13:09):
it and so getting more and moreinvolved in learning and
networking and understandingwhat the business was.
That made me want to transitionmore full time.
But then I would say, one ofthe biggest things than what you
can do at this, at your nine tofive job and life is more about
(13:45):
work and it's more aboutcreating abundance in your
family and abundance in yourlife, and so that's what excites
me the most about it is gettingaround.
Heather Ewing, CCIM (13:55):
Yeah Well, and that's where you perfectly
segued into my next question ofmindset.
But I agree with you of youknow, if your frame is this big,
you're definitely not going tohave, you know, these larger
multifamily and otheropportunities that do come up.
And that's where I thinkespecially.
(14:16):
I think everyone has their ownstruggles with mindset at
different times in differentways.
But I think if you were to lookcollectively, I think women
definitely play much smaller andI think you hear a lot about
just single family homes andthings like that, and I think,
just being in the commercialsector, it just seems like so
(14:38):
much more work to start with ahouse flip and this and that,
and at the same time, I'd liketo acknowledge that they're
looking to better and improvetheir lives.
But it goes back to you don'tknow what you don't know.
Right and that's also why I havethis podcast is to share with
people these great resourceslike yourself, the other
investors is to share withpeople these great resources
(15:00):
like yourself, the otherinvestors, brokers this, that
and the other thing throughoutthe entire nation.
Because it's free, it's a greatway to open your mind, make
connections, learn.
I mean I always say, if youhave a growth mindset.
It's an emporium.
There is so much to learnthrough YouTube, through people
like you started with the meetup.
I mean, if, if there's a will,there's a way, and I think
(15:20):
that's also where opportunities,people come into your life.
Resources, other things that ifyou're focused in on doom and
gloom and it's too hard and thisand that well, you're
definitely going to ensure thatthat's your life.
Amanda Larson (15:36):
So sure, yeah, yeah, and there's unfortunately
a lot of people who focus onthat.
Heather Ewing, CCIM (15:41):
So not a very different, different path.
Yeah, right, so what would yousay?
So you are a runner as well,which, of course, is near and
dear to my heart.
What are some ways that youutilize your running and your
mindset with your investing?
Amanda Larson (16:01):
yeah.
So I mean there's a lot ofparallels between running and,
like, I think, fitness andactivity in general and business
.
But it's just being, for me,like running, just like business
, is about being consistent.
So I tell people like I don'ttell people.
I, when people ask, um, likewhat, what makes me do it every
(16:24):
day, or how do I do it every day, and I just said I don't give
myself an option.
Like, even before I was a runner, I was going to the gym a lot
and I was like it's just part ofmy day, it's like taking a
shower, it's like eatingbreakfast or whatever.
Like, if you don't giveyourself the option and make it
into your day, it just becomeslifestyle and business is insane
.
It's not every day Do you wantto wake up and you know work on
(16:47):
your business and it's hard andthere's ups and downs and it's
like more ups and downs thangoing to work because you're on
your own.
But it's showing up every dayand being consistent and getting
through the hard times.
And, yeah, running reminds meof that every day.
Heather Ewing, CCIM (17:06):
Um, yeah, and then it's a great time yeah
yeah, I always say it's not, ifit's when, yeah, and I think you
nailed it on the head too,because I always say it becomes
a lifestyle and for me it isstressful what we do, right,
there's to your point.
There's so many changes andthere's big swings financially.
Otherwise, and if you didn'thave running or some physical
(17:29):
outlet, there's going to be alot of bad habits, right?
Amanda Larson (17:33):
and it's a great time to think and clear the mind
and solve problems and I'vesolved all kinds of problems or
come up with ideas when I'm whenI'm running, because there's
nothing else to do other thankind of think.
Heather Ewing, CCIM (17:46):
It forces you to be present, right yeah?
Amanda Larson (17:49):
yeah, I don't.
I'm not a big on like a bigmeditator.
I think I believe in it, butit's hard for me.
But I call my running likemeditation in motion, so it's my
time to think.
Heather Ewing, CCIM (18:03):
I agree completely, I agree completely,
I agree completely.
So my last question for you, mydear, and this is always the
big one what does living fullymean to you, amanda?
Amanda Larson (18:14):
Oh, good question , Living fully?
I think it's just coming tolife and showing up for life
with intentions.
And showing up for life withintentions, I feel like you see
a lot of people just goingthrough day to day and doing
what they always do withoutthinking about why they're doing
it or where it's taking themnext week, a year from now, five
(18:39):
years from now, and so reallyit's just deciding what kind of
life you want and then buildingyour day around that life to
make sure that it's aligned withyour goals, and then just being
present.
You know, if you show up, ifyou, if you're with friends, be
with friends.
If you're with your spouse orsignificant other, be with them
and be present with them andappreciate the time and be be
(19:04):
grateful Practice gratification.
Heather Ewing, CCIM (19:12):
That's perfect, definitely Well with
that, amanda.
I am so grateful that we wereable to connect and thank you
for sharing your wisdom with ouraudience.
Please share.
How can they?
Connect with you.
Amanda Larson (19:18):
Yeah, there's a couple ways.
So I'm very active on LinkedIn.
I think, heather, that's Lena,that's where we met, so just
Amanda Larson on LinkedIn.
I visit my website.
It's amaxequitycom,a-m-a-x-e-q-u-i-t-ycom, and
there is a form.
It's just you sign up for anewsletter, it's not.
(19:38):
You know, I'm not going to spamyou or anything like that.
It just helps us stay connectedand you can fill out questions
or whatever you want and we canjust connect and get to know
each other.
It's really about buildingrelationships and, yeah, if, if
there's ways that we can worktogether, like that's awesome.
If it's just a relationship,even you know, that's fine too.
(20:00):
So those are probably the two,probably the two best ways right
now.
Heather Ewing, CCIM (20:06):
Excellent.
Well, Amanda, thank you again.
I appreciate it and I will seeyou soon.
Amanda Larson (20:10):
Thank you so much , Heather.
It was a fun time and a greatconversation.
Heather Ewing, CCIM (20:15):
You bet Bye-bye.
Amanda Larson (20:17):
Bye.
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