February 24, 2025 • 35 mins
Welcome to Investor Evolution: Elevate! In this episode, Kimberly Hoyt sits down with Michella Tang-Otter, a multifamily real estate investor and syndicator with a strong background in marketing analytics and business operations.
Michella shares her journey from corporate marketing—working with Fortune 500 brands like Johnson & Johnson, Mars, and Samsung—to building wealth through multifamily real estate investing. She breaks down the strategies behind scalable investing, the key skills that helped her transition, and the mindset shifts necessary for success.
💡 What You’ll Learn in This Episode:
✅ Why multifamily real estate is a powerful investment strategy
✅ How corporate skills translate into real estate success
✅ The importance of communication, partnerships, and vetting operators
✅ The “double dipping” strategy in real estate investing
✅ Actionable advice for new investors looking to get started
📌 Timestamps:
00:00 – Welcome to the Investor Evolution: Elevate Podcast
00:36 – Michella Tang-Otter’s Background & Transition to Real Estate
02:37 – Why Multifamily Real Estate?
04:31 – Key Skills from Marketing to Real Estate
07:12 – Advice for New Real Estate Investors
13:45 – The Importance of Communication in Real Estate
18:25 – Vetting Partners & Operators
21:49 – The “Double Dipping” Strategy in Real Estate
25:54 – Mindset Shifts for Success
29:32 – Future Plans & Final Advice
33:59 – Connect with Michella Tang
🔥 Ready to elevate your financial future? Subscribe to the podcast and connect with us for more investing insights!
🔗 Connect with Michella Tang-Otter:
https://steadyworkcapital.com
steadyworkcapital.com/subscribe
🎧 Enjoyed this episode? Don’t forget to LIKE, COMMENT, and SUBSCRIBE for more insights on real estate investing, mindset growth, and wealth creation!
#RealEstateInvesting #MultifamilyRealEstate #PassiveIncome #InvestorEvolution #WomenInRealEstate #FinancialFreedom
YouTube
Facebook
Instagram
LinkedIn
Mindvalley
Need a CRM: Check out Social Connector
Disclaimer: I am not a CPA, attorney, insurance/real estate agent, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a podcast for entertainment purposes ONLY.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Welcome to investor evolution,elevate the podcast, designed to
(00:04):
help busy professional womenlike you, rise higher in every
area of life.
Whether you're looking to createfinancial freedom, reclaim your
time, or find harmony whileyou're thriving in your career,
this show is for you.
Join me each week.
As we uncover strategies to growyour wealth, nurture your
personal development, andelevate your life to new
(00:25):
heights.
So you can live with purpose,joy, and confidence.
All right, everyone.
Welcome to the InvestorEvolution Elevate podcast.
Today I'm joined by MichelleTang.
She is an expert in multifamilyreal estate investing and
syndications.
She has a background inmarketing, analytics, and
business operations.
(00:46):
Michelle brings a strategicapproach to building wealth
through real estate.
So I'm super excited for her tobe here.
Michelle, welcome to thepodcast.
Thank you, Kimberly.
Thanks for having me.
I look forward to ourconversation.
Yes.
Let's talk about your backgroundbecause you have a background in
marketing and Tell us a littlebit about that and then tell us
(01:10):
how you are transitioning nowinto the world of real estate
investing.
Right.
So thanks for this question.
I consider myself somebody wholike it is a little bit, how
should I say, impatient maybe orlike who loves to jump around.
Doing different things.
So I have a, I've had a career,a marketing career for 10 years
(01:33):
by now.
I am now working for a marketingagency that serves fortune 500
brands, clients, by brandclients, I mean, uh, who I
personally work with includeslike Johnson and Johnson,
Campbell's Mars, and alsoSamsung and Crayola most
recently.
So this is actually like seeinghow these.
(01:56):
Fortune 500 brands being sosuccessful and how my work
supports their e commerce andmarketing efforts has taught me
a lot of things about businessoperations, project management,
and also data analytics.
I am now like, um, transplantingthese skills into the world of
real estate because, um, mainly,uh, there are so many ways of.
(02:20):
making money in real estate, youhave to pick your lane and
really hone in your skills.
And I decided that like,multifamily apartment investing
is something that is a fit forme.
So I and I decided that I wouldlove to apply my business skills
into it.
So I think that's so true.
(02:42):
I think when you get into thisworld of real estate investing,
And it can be overwhelmingbecause there are so many
different things that you cando.
You can be active.
You can be passive.
You can be a lender.
You can be a buyer.
There are so many different waysto be in this realm.
What was it about multifamilythat really made you excited or
(03:06):
feel like.
This is the lane I want to bein.
It's mainly scalability, becauselike in this modern world, there
are a lot of things you can do,but you will eventually reach a
point that you're limited byyour own hands, your own skills,
or even, and most importantly,your own time.
So the way to scale a businessis actually about spending
(03:31):
equivalent amount of time, butdoing more things.
So you will need a theory.
Carefully designed set offbusiness solutions around that
and multifamily turns out to bea scalable solution, which also
can put these kind of businessthinking into good use.
Mathematically speaking, itmakes sense because you can
(03:54):
Enjoy units or more families,more renters, like paying rent
to you, but like proportionallyspeaking, the expenses is a
little bit lower.
And of course the keyword hereis proportionally like the
absolute, uh, expenses ofoperating in a multifamily
apartment.
It's definitely larger than asingle family, but
(04:14):
proportionally speaking, it is.
Always lower people who has abusiness background to think
further.
What are some like operationalexcellence we can bring into
this world?
Uh, and I am also fascinated bya lot of our counterparts or
like colleagues right now.
Trying to use technology tobuild a world that is more
(04:37):
scalable than before.
We have all kinds of propertymanagement software right now
that are, a lot of them arecutting edge.
We have a lot of underwritingsoftware.
They are providing really goodsolutions.
So yeah, I am excited to seethis ever evolving world having
more scale and being even moreefficient than what it is now.
Now, when you think back toyour.
(04:58):
So I'm going to ask you a coupleof questions about your career
and those skills.
What specifically do you feelhas been those, you know, those,
those magic bullets, the secretsauce for what you're taking
from your previous career andbuilding into the real estate
investing world?
Well, I would say it is thementality of, uh, not wanting to
(05:20):
be bored.
Okay.
Okay.
Let me explain.
Let me explain that a littlebit.
What I discover is thatdifferent working professionals
have different, really differentpersonalities.
Actually, I am the person whogoes really deep into one
discipline of knowledge.
feeling bored about it, likeafter seven to eight years
(05:41):
figuring most of the things outof it.
And then I would like to move onto another field of knowledge.
And I keep learning, but like,at the same time, I totally
respect and like, there'snothing wrong with this at all,
which is that like, there areanother group of working
professionals who will always bein the mentality of.
(06:01):
winning over battles using myadvantage or my absolute or my
relative advantage over others,and meaning that they are always
thinking about what are mystrategies, what are my
strengths over other people, andI only go about those fields.
Well, um, I don't necessarilythink the latter is better than
(06:23):
the former or is worse than theformer.
It's just a different ways ofthinking things, and I happen to
be a A person who belongs to thefirst camp.
I get, I get bored withsomething.
I move forward to another newthing and I've built a career
out of it.
So I am extremely happy thatthis year celebrates my 10th
(06:43):
year mark of having a marketingcareer.
I used to have an academicresearch career before that.
And like, um, this is, um, Iwould say like, this is like my
celebrative or milestone momentof starting a realistic career.
One of the things that.
My business partners and I,we've talked about is how we
(07:04):
have these transitions in ourlife where it's almost like.
Starting over and you know, it'sour next lifetime.
So I, I hear that of your 10years and now you're
transitioning into this realestate world.
And right now I think you'restraddling both.
Um, but you can see the growthcoming and I love it because
(07:26):
it's like.
It's your next life.
It's the next, the next thing.
And it's so exciting when you'restarting something new and
learning because there's so muchto learn.
So a lot of the people listeningto my podcast are going to be
new real estate investors.
Or, um, people in the medicalfield who maybe are new to the
(07:49):
idea of real estate investing.
Uh, when, when someone's cominginto this and they are feeling
like, Oh my gosh, there's somuch to learn.
Cause there's so many ways that,that you can make money or be
involved, where should theystart?
What is the place that you feellike is a good place for people
to come in and get their feetwet?
(08:11):
I think education is reallyimportant in this field.
Because we will have to behonest here, like guys,
everyone, real estate is aindustry that has a lot of money
to make.
It is an industry that involvesa lot of money passing through
hands.
So there are a lot of scammers,unfortunately.
So I'm just being real honesthere, I guess.
(08:34):
So going back to your question,Kimberly, and I think this is
for all the listeners here withus here.
I think like the best way tostart is not to think about how
to make money first.
The, I think the very firstthing is actually to pro, to
learn about protecting yourself,to learn about what people are
doing out there, who can bescamming your money, and like
(08:58):
what are things you should notdo, rather than what you should
do.
in this industry.
So after, after that, then we,after you learn like all the
like tricks of those like badapples, uh, in a, uh, industry,
then we can talk about what arethings you are more interested
in doing than the others.
(09:18):
What kind of skills you canbring to the table that would
give you the less steep learningcurve that would bring, uh, cash
into your pocket quicker.
So that, that would be thingsyou should be going after.
Amazing.
Yeah.
I, I think understanding whatyou're coming into and educating
(09:39):
yourself on, as you said, whatcould go wrong or where to be
careful about is just asimportant as understanding what
is multifamily investing or whatis now being a private money
lender.
All, all of that will come.
And I think as we've seen in ourcommunities.
That we're, we tend to jump inand be like, Oh, I wish I would
(10:04):
have.
And so I, I think that's a veryimportant point of getting your
feet wet, getting some knowledgebehind you, understanding what
can go wrong and.
Ways to protect yourself againstthat is, is key.
Let's talk about, so you'veworked with some big brands in
your marketing career.
Lego, Samsung, Mars, Johnson andJohnson.
(10:27):
How has that experience workingwith those brands?
And you mentioned it a littlebit when we, in that first
question, but how has thatinfluenced how you're
approaching real estate or what,what things are you bringing in
with you from those experiences?
This is a great question,Kimberly.
Thank you for asking because letme talk about a little bit about
(10:49):
myself first, and then I'll goback to answering your question.
What I discovered is that in mymarketing career, I am actually
bringing in my researcher mindinto work.
And now I am in real estate.
I found out that I am bringingmy marketing mind into real
estate.
So everything feeds to eachother.
So I think one thing foreveryone out there listening to
(11:11):
this podcast is that don't feelthat you're blocked by.
real estate investing justbecause you don't have exposure
to this industry yet.
Like there are alwaystransferable skills that you can
bring in, and like sky is thelimit.
So yeah, but Kimberly, back toyour question, what then what am
I really bringing from themarketing world into real estate
(11:32):
then by working with these bigbrands?
What I discovered is that thesebig brands, um, a cross
functional team Collaboration isactually very, very important,
or maybe the most importantthing that happens all the time
in the business world.
And this is super important inmultifamily as well, because
(11:55):
when taking care of a business,no one can do everything, but
communicating with yourcolleagues on like, um, who is
doing what at a time andeventually how people are going
to pass information to eachother to collaborate.
Super important.
And I think like sometimes thismight be sometimes something's
(12:19):
medical professionals can have alittle bit harder time to
understand, especially if youare a doctor.
Well, we love you.
We totally respect that you havevery, very deep knowledge about
your respective field.
What we discover again and againin the, when we work with
medical professionals to helpthem get passive income in real
(12:41):
estate is that they tend to,they tend to first think about a
business as a compartmentalized.
structure, meaning that if youare an expert of something, then
you go ahead and do somethingbecause that's how the medical
work is structured.
It can lead to situations, Ishould say, that medical
(13:03):
professionals have too high oftrust of someone they consider
an expert in the team that willprevent them from doing their
own due diligence to check onthings as well.
And like in this situation, justin case a medical professional
grow to become a generalpartner, operating an asset and
(13:25):
operating a team, um, that canalso lead to situations where
the communication is not thegreatest.
So I think one of my advice topeople out there, no matter you
are a medical professional whois looking to passively invest,
or if you are a medicalprofessional who looks who are
like now looks into operating anasset and becoming a general
(13:48):
partner.
I would say understanding howcross functional team works and
how different department headsor experts are still required to
communicate to each other sothey piggyback off each other's
knowledge and experience tobuild something bigger is
actually very important.
(14:10):
Communication is key in allaspects of life, right?
But it's super important whenyour money is involved.
And especially if you're lendinghundreds of thousands of
dollars, it's very important tomake sure that the people that
you are investing with Our, youknow, have good community, good
communication skills.
(14:30):
Cause that can be very importantdown the line, as we know with
real estate, it never goesaccording to plan.
There's always some hitch in thegiddy up, so to speak.
Uh, there's, there can be delaysin the project.
There can be unforeseencircumstances, hurricanes,
natural disasters, and havingthose open line of
(14:53):
communications and knowing whatthat should be.
Beforehand is super important.
One of the things, uh, I knowsome of the investors I've
worked with are starting to dois especially in, you know, more
of the PML type lending isputting communication clauses in
their contract.
(15:13):
Like this is the expectation.
So it's set up at front.
Uh, so thinking about that andthat communication, let's talk
about how you communicate withyour investors.
How are you in communicationwith your lenders?
To make sure that they'reapprised of the situation and
aware of what's going on.
(15:34):
First of all, even before wehave a deal, I always, always
share the full underwriting withan Excel spreadsheet format with
all the formulas, correctformulas by the way, with all
potential investors.
I also share our operationalteam or our partners track
record with all the investors.
Uh, if you want, actually I havebeen asked that.
(15:56):
We are able to, or we're willingto, share with you even the
source of data, meaning theoriginal T12 or the RAM role,
and for you to verify our, uh,calculation to check on our
numbers.
Honestly, I know not a lot ofpeople do that.
And I have definitely heard frominvestors saying that they were
(16:17):
asked to invest in, uh, forexample, a business or like a
software just just because ofthe big name or like just
because they were asked to trustthe process.
To me, that is not somethingthat can work.
And I would go ahead and tell myinvestors that I am so
transparent that I am confidentwith my numbers being correct.
(16:42):
We check everything.
And I'm so confident that I canshare that with you for you to
check on my numbers as well.
And by the way, I, we have a lotof investors, uh, who are tech
workers.
They are obsessed with numbers.
They always catch something.
So I'm so confident that like,even if you are very data
fluent, uh, we are confidentthat we can explain everything
(17:04):
to you.
So I think that's the firstlayer of communication.
I think that's very important.
And I love your transparencyagain, because you're asking
people to trust you.
With their money, with their,you know, their life saving
stuff that they've worked for,for years.
And I, I find that to be a redflag, yellow flag, whatever you
(17:26):
want to call it.
If you're asking someone who'sasking you for money.
To see the data, to explainthings, and if they get
defensive about that, or, youknow, we, we know that it's
going to work.
So you should just trust us.
They can't explain it to you andthey're not willing to, why not?
(17:46):
Why not?
You know?
So I appreciate that with you.
And I, I find that having,again, it goes back to that open
line of communication.
If you, if you can say, here'swhat we got.
I think you would probably bevery appreciative if one of your
tech friends was like, Hey,actually, this is what I found
and you guys can work on ittogether.
That strengthens therelationship, not hinders it.
(18:09):
So I, I think that's, that'svery important.
Just additional comment thatlike, after we close a deal, we
still maintain that open line ofcommunication that like we have
monthly emails and sometimesZoom calls with our investors
like to talk about updates onour projects.
Outside of that, investors whosubscribe to our newsletters
(18:31):
also hear from me every twoweeks about market updates.
So that kind of goes back toyour, your market research, your
data analytics, like you'repulling all that data and
keeping that front of mind,especially as you're looking for
different projects to invest in.
So that's great.
Let's talk about how you.
(18:52):
So how do you vet your partnersor the operators that you're
investing with?
What are the things that you'relooking for when you're looking
at an operational partner?
So first of all, like there aremany kinds of operators out
there.
We are all looking forexperience once, but I'm like,
(19:13):
you actually have to think foryourself as well.
Who do, what do you mean byexperience?
Yeah.
There are people who are, whowants to only work with
operators who have, um, gonethrough a full cycle for X
number of times.
And that is consideredexperience.
(19:33):
Um, there are also investorswho, uh, prefer working with
experienced operators who hasexperience in the past touching
on very different kind ofassets.
And also there are people whostrongly prefer, um, operators
having only one type ofexperience or one type of access
(19:57):
by going very deep into it.
So nothing wrong with it witheither of those.
Uh, I personally.
like to work with operators whohas at least done one full exit,
one full cycle, and I preferworking with somebody who has
touched a lot of things.
Because like that, I would saylike, it is something like
(20:20):
biodiversity.
It strengthens like what you canpick and choose and what you
learn from different things andthey cross pollinate, um, On the
experience that would inform anewer things or a newer strategy
that always make things better.
So for example, I work withoperators who has experience
from multifamily to storage andto retail and business.
(20:44):
And then I always verify thatlike they have, they are
experienced in that actual onthe ground execution.
So, like, there is also onething that I would like to
highlight here, and, like, it ismy own personal lesson on this
journey.
There was a time I was very datadriven, that I was, um, I was, I
(21:07):
just went ahead and keep lookingfor the best market out of the
best in the United States, andwould do a lot of analytical
work, uh, behind, like, uh,macroeconomics, behind, like,
job growth.
population growth of that kindof thing.
But at the end of the day, whatI discover is that, uh, what
(21:28):
makes you money is the day today on ground execution.
So that actually changesslightly, like the data driven
side of me as well.
And now I work, I, when I lookfor partners to work with, I
always look for ones that has.
Um, that has get their handsdirty.
(21:48):
That is very, very deep into theknow how into how to actually
operate an asset.
So let's, let's switch gears alittle bit for those people, you
know, these professionals,whether they're in the medical
field or, you know, just highnet worth individuals.
(22:08):
Why is real estate a good assetto invest in?
Why should this be part of theirportfolio?
I am going to give everyone aslightly different answer than
what you will hear from otherpeople.
I think a lot of our colleagueswill answer this question saying
that like, it is a nice, you canearn a nice cash flow
(22:29):
depreciation, appreciation.
And you get like tax breaks fromthe depreciation you are getting
from investing in multifamily.
That means you have a paperloss.
And those are all the goodthings for sure.
And I'm totally not saying thatour colleagues are wrong.
But one of the most importantthings that you should
(22:52):
understand.
And if you have a chance to talkto investment bankers or private
wealth managers, they will tellyou something very different
than us.
Not a lot of our colleagues talkabout the real unlock of
multifamily is actually thedouble dipping nature of it.
(23:13):
And here it means that the truehigh network professionals out
there at a family officesactually have a mixed portfolio
of stocks.
Bonds, real estate, businesses,and cash in their investment
portfolio.
And the real unlock actuallylies in having stocks.
(23:38):
Non physical or paper assets,and they go ahead and get a
security backed loan to doubledip into real estate, so they
make even more.
Instead of only having stocks intheir portfolio making money,
they are basically recycling themoney or leveraging what they
already have to double dip intoreal estate.
(24:00):
And that is a real unlock.
So I don't think a lot of ourcolleagues understand this
enough to present the data orthe thinking that way.
But actually this is a veryimportant thinking when for high
network professionals,institutional investors and
family offices.
Interesting.
Okay.
Okay.
(24:20):
I'm not quite sure if you'resaying that they're taking, um,
Are they taking loans againstthe stocks that they're
investing and then using that?
Really?
Yes.
Mind blowing.
Okay.
And so you said that becausethey're investing in real estate
because it's a security backedinvestment.
(24:43):
Yeah.
And that, and that way they willhave both paper assets and non
physical assets in their intheir portfolio that it, that
becomes a nice hatch ordiversification.
Nice.
Okay.
So much, so much to learn.
See, look at the rabbit holewe're going.
Yeah, we, yeah, this is a verydeep rabbit hole.
(25:03):
And I just, I actually learnedabout this only fairly recently
by speaking with my old New Yorkfriends who works at Wall
Street, who served at GoldmanSachs, like all the bravest
families in the world.
And is this different from howinfinite banking works?
Or is it that kind of the sameprinciple?
(25:24):
A little bit different, becausethis does not involve insurance.
And of course, I am not at this,I'm not a CPA or financial
professional financial advisoris like everyone should consult
their own professional for yourown little situation.
But yes, like that this Involveslike, um, stocks and like
(25:45):
security back loan instead,which works a little bit
different from insurance andlike, and also likes, um, speak
stock only portfolios.
Interesting.
Okay.
So, yeah, I think the diversityis the big thing.
Your investment advisor tellsyou to have diversity within
your portfolio of stocks, butwhy not have diversity in the
(26:07):
investments themselves?
And I think kind of as a broadoverview, I think that's good.
And yes, we are not any taxprofessional, legal advice, none
of that here.
Yep.
Um, let's, let's talk aboutmindset a little bit.
What mindset shifts have beencrucial for you and your journey
from your marketing and intoreal estate investing?
(26:31):
Well, uh, I would like to toucha little bit about shiny object
symptom.
A lot of people are afraid of itmore.
Of course, it.
I would say the first thing isthat you should not be afraid of
it, embrace it, because this isnatural, especially in a real
estate world, because a lot ofus have seen a lot of things.
A lot of people are making moneyon their own terms in their own
(26:55):
way, to a point that it wouldthere, it really triggers a
very, very deep of FOMOpsychology.
So very first thing I would sayis that don't be afraid.
It is very natural.
Striking objects that Tomhappens to.
Every one of us.
I recently actually personallyexperienced a rollback of shiny,
(27:17):
shiny object symptom, meaningthat I thought I came out of it
last year and then I feel thatI'm rolling back into this shiny
object symptom again.
And this is why.
At the very beginning, when Iswitched from single family to
doing multifamily, I thought Ihave already settled.
(27:37):
In the thinking that I will belaser focused in a multifamily,
but as you dig deeper into thisworld, there are still a lot of
things that can happen in themultifamily world, and they all
can lead to profits or revenues.
So I feel that I am now goingthrough a rollback, meaning that
I am into this.
(27:59):
shiny optic symptom again, nowat the phase of picking out more
narrowly what under themultifamily umbrella I would
like to do.
So, uh, I would say if we talkabout mindset, I just want to
remind everyone that this isvery natural and don't be afraid
of a rollback, because ittotally So that's nothing about
(28:22):
your not like you missing on anaccomplishment or not having any
successes.
It's not that at all.
It's just that naturally, as weall grow and become more
knowledgeable, and we connectthe dots, you will discover that
there is always an opportunityfor optimization.
And here, if we're talking aboutmindset optimization of some
(28:46):
kind.
I would argue that it is aboutfurther narrowing down what you
would like to do so you don'tlose focus.
And that would be the start of,uh, writing down a more longer
term business plan for your owndevelopment as well.
And actually like, this is alsowhat I'm going through right
now.
Oh, awesome.
Well, thank you for sharing thatwith us and for being kind of
(29:09):
vulnerable about that because I,I have found in my life that I
had to go broad in order to gonarrow.
I had to rule things out inorder to know where I needed to
be.
And it felt like a lot of shinyobjects when I was, was doing
that.
But it helped me say, okay, Idon't like that.
(29:30):
Or I like this piece of it, butnot the rest.
So I'm going to take that withme.
And I think that's how, how wecan kind of hone in on what
we're good at, what we love todo, what we're best at and, and
use that to cultivate, you know,a career path or, um, you know,
revenue generating system ofsome sort down the, down the
(29:53):
road.
So I appreciate that quite abit.
As you are Diving into thisworld and thinking about those,
those next steps.
Where, where would you like tobe in the next five years?
What would that.
Michelle look like where wouldyou like to be?
(30:13):
I appreciate this question.
Um, we're actually now pencilingdown a three year business plan
ahead of us for our real estatework.
Down the road, we are reallyinterested in doing affordable
housing and so we're livingbecause we would like to
transform the real estate wealthinto helping people and bringing
(30:33):
communities together.
We are now planning to take babysteps before we can fully
realize these things.
And we're being very realisticabout these things.
Because of this, now the shortterm focus will be to investing
in small scale projects.
Uh, coming in as partners ormaybe as a lender, and then down
(30:56):
the road, we will be rolling upto doing more fix and flips with
scale and eventually going intoaffordable housing.
I like that idea of creating animpact as well as an income and
that coming together in abeautiful way.
You know, we can help morepeople if we're making more
(31:18):
money.
And, you know, and in turn beingable to help those around us.
So I appreciate that.
If you could give one piece ofadvice to someone looking to
elevate, maybe it's theircareer, their finances, maybe
it's their mindset.
I know this is kind of broadquestion, but what would that
be?
What's one piece of advice thatyou wish maybe you had?
(31:40):
Don't listen to other people.
Well, I have the, I'm gonnaexplain a little bit about this.
I think there are a lot ofinfluencers, gurus, or teachers,
mentors, however you want tocall it, are trying to promote
the idea that there are, thereare certain ways of doing things
(32:03):
that is more correct than theothers.
But like the more you thinkabout it, or the more you learn
about it, the reality is thateveryone finds their own way of
doing things and successesactually comes In a particular
configuration that isundividable away from that
(32:26):
person's personal backgroundexperience and also exposure to
certain, to certain situationsor even networks of people.
So I, so I think that, forexample, one example that I
think about it again and againis that there will be a lot of
gurus out there who will tellyou that don't think too much,
(32:46):
don't analyze too much, justtake action and you will learn.
I am actually still the completeopposite, which is that I love
to research on things.
I love to know ahead what arethings that I should not do
before I take action.
And that is serving well for me.
And I like to insist on thatway.
(33:07):
I don't, I totally do not liketaking action immediately.
But like, again, this issomething if it works for you,
it works for you.
So I would say that it,Eventually, if I have to give
one advice to people, I wouldsay, do it your way.
Do it the way that makes youmost confident, and do it, start
(33:29):
in a way that has the best useof your existing knowledge,
experience, or resources, andcome up with your own
configuration.
When you're taking otherpeople's advice.
It does not mean that you haveto switch to their model
completely, but rather add theirvaluable advice into your model
(33:52):
that grows your offer orperfects your configuration.
I appreciate that so much.
There's no one right way to doit, and we're all going to do it
a little bit differently.
We're all going to have our ownlittle flair to it.
And that is something I wish Iwould have known when I was 20,
(34:12):
for sure.
So thank you very much for that.
Thank you.
This has been an incredible,incredible conversation.
I've learned a lot.
Now I have a lot more questionsabout some things, but where can
our listeners connect with youand learn more about your work
at StudyWorkCapital, which isthe name of your company?
Where can they find you?
(34:33):
Yep.
No worries at all.
So you're welcome to scan thisQR code.
It will lead you to my digitalbusiness card and you can
download right there.
My contact information.
Otherwise you're more thanwelcome to DM me with any
questions on Instagram at investwith Mitch.
I'm now on threats as well.
And I am using threats as my ownreal estate.
(34:56):
Journey diary, which I will befreely writing about what I'm
doing day to day, how I amthinking about certain things,
just like, well, it's just afree space for me to express
myself.
And of course, you're more thanwelcome to check on my website,
SteadyWorkCapital.
com or go to SteadyWorkCapitalslash subscribe to subscribe to
(35:17):
our multifamily newsletter.
Amazing.
All right, everyone, pleasecheck her out.
She's got incredible thingsgoing for her.
And I'm going to check you outon threads.
I'm just now learning aboutthis, this whole new shebang and
social media.
So I'm excited to follow youthere.
All right, everyone.
Thank you so much.
And until next time, have a goodone.
(35:39):
Thank you.
Welcome to investor evolution,elevate the podcast, designed to
(00:04):
help busy professional womenlike you, rise higher in every
area of life.
Whether you're looking to createfinancial freedom, reclaim your
time, or find harmony whileyou're thriving in your career,
this show is for you.
Join me each week.
As we uncover strategies to growyour wealth, nurture your
personal development, andelevate your life to new
(00:25):
heights.
So you can live with purpose,joy, and confidence.
All right, everyone.
Welcome to the InvestorEvolution Elevate podcast.
Today I'm joined by MichelleTang.
She is an expert in multifamilyreal estate investing and
syndications.
She has a background inmarketing, analytics, and
business operations.
(00:46):
Michelle brings a strategicapproach to building wealth
through real estate.
So I'm super excited for her tobe here.
Michelle, welcome to thepodcast.
Thank you, Kimberly.
Thanks for having me.
I look forward to ourconversation.
Yes.
Let's talk about your backgroundbecause you have a background in
marketing and Tell us a littlebit about that and then tell us
(01:10):
how you are transitioning nowinto the world of real estate
investing.
Right.
So thanks for this question.
I consider myself somebody wholike it is a little bit, how
should I say, impatient maybe orlike who loves to jump around.
Doing different things.
So I have a, I've had a career,a marketing career for 10 years
(01:33):
by now.
I am now working for a marketingagency that serves fortune 500
brands, clients, by brandclients, I mean, uh, who I
personally work with includeslike Johnson and Johnson,
Campbell's Mars, and alsoSamsung and Crayola most
recently.
So this is actually like seeinghow these.
(01:56):
Fortune 500 brands being sosuccessful and how my work
supports their e commerce andmarketing efforts has taught me
a lot of things about businessoperations, project management,
and also data analytics.
I am now like, um, transplantingthese skills into the world of
real estate because, um, mainly,uh, there are so many ways of.
(02:20):
making money in real estate, youhave to pick your lane and
really hone in your skills.
And I decided that like,multifamily apartment investing
is something that is a fit forme.
So I and I decided that I wouldlove to apply my business skills
into it.
So I think that's so true.
(02:42):
I think when you get into thisworld of real estate investing,
And it can be overwhelmingbecause there are so many
different things that you cando.
You can be active.
You can be passive.
You can be a lender.
You can be a buyer.
There are so many different waysto be in this realm.
What was it about multifamilythat really made you excited or
(03:06):
feel like.
This is the lane I want to bein.
It's mainly scalability, becauselike in this modern world, there
are a lot of things you can do,but you will eventually reach a
point that you're limited byyour own hands, your own skills,
or even, and most importantly,your own time.
So the way to scale a businessis actually about spending
(03:31):
equivalent amount of time, butdoing more things.
So you will need a theory.
Carefully designed set offbusiness solutions around that
and multifamily turns out to bea scalable solution, which also
can put these kind of businessthinking into good use.
Mathematically speaking, itmakes sense because you can
(03:54):
Enjoy units or more families,more renters, like paying rent
to you, but like proportionallyspeaking, the expenses is a
little bit lower.
And of course the keyword hereis proportionally like the
absolute, uh, expenses ofoperating in a multifamily
apartment.
It's definitely larger than asingle family, but
(04:14):
proportionally speaking, it is.
Always lower people who has abusiness background to think
further.
What are some like operationalexcellence we can bring into
this world?
Uh, and I am also fascinated bya lot of our counterparts or
like colleagues right now.
Trying to use technology tobuild a world that is more
(04:37):
scalable than before.
We have all kinds of propertymanagement software right now
that are, a lot of them arecutting edge.
We have a lot of underwritingsoftware.
They are providing really goodsolutions.
So yeah, I am excited to seethis ever evolving world having
more scale and being even moreefficient than what it is now.
Now, when you think back toyour.
(04:58):
So I'm going to ask you a coupleof questions about your career
and those skills.
What specifically do you feelhas been those, you know, those,
those magic bullets, the secretsauce for what you're taking
from your previous career andbuilding into the real estate
investing world?
Well, I would say it is thementality of, uh, not wanting to
(05:20):
be bored.
Okay.
Okay.
Let me explain.
Let me explain that a littlebit.
What I discover is thatdifferent working professionals
have different, really differentpersonalities.
Actually, I am the person whogoes really deep into one
discipline of knowledge.
feeling bored about it, likeafter seven to eight years
(05:41):
figuring most of the things outof it.
And then I would like to move onto another field of knowledge.
And I keep learning, but like,at the same time, I totally
respect and like, there'snothing wrong with this at all,
which is that like, there areanother group of working
professionals who will always bein the mentality of.
(06:01):
winning over battles using myadvantage or my absolute or my
relative advantage over others,and meaning that they are always
thinking about what are mystrategies, what are my
strengths over other people, andI only go about those fields.
Well, um, I don't necessarilythink the latter is better than
(06:23):
the former or is worse than theformer.
It's just a different ways ofthinking things, and I happen to
be a A person who belongs to thefirst camp.
I get, I get bored withsomething.
I move forward to another newthing and I've built a career
out of it.
So I am extremely happy thatthis year celebrates my 10th
(06:43):
year mark of having a marketingcareer.
I used to have an academicresearch career before that.
And like, um, this is, um, Iwould say like, this is like my
celebrative or milestone momentof starting a realistic career.
One of the things that.
My business partners and I,we've talked about is how we
(07:04):
have these transitions in ourlife where it's almost like.
Starting over and you know, it'sour next lifetime.
So I, I hear that of your 10years and now you're
transitioning into this realestate world.
And right now I think you'restraddling both.
Um, but you can see the growthcoming and I love it because
(07:26):
it's like.
It's your next life.
It's the next, the next thing.
And it's so exciting when you'restarting something new and
learning because there's so muchto learn.
So a lot of the people listeningto my podcast are going to be
new real estate investors.
Or, um, people in the medicalfield who maybe are new to the
(07:49):
idea of real estate investing.
Uh, when, when someone's cominginto this and they are feeling
like, Oh my gosh, there's somuch to learn.
Cause there's so many ways that,that you can make money or be
involved, where should theystart?
What is the place that you feellike is a good place for people
to come in and get their feetwet?
(08:11):
I think education is reallyimportant in this field.
Because we will have to behonest here, like guys,
everyone, real estate is aindustry that has a lot of money
to make.
It is an industry that involvesa lot of money passing through
hands.
So there are a lot of scammers,unfortunately.
So I'm just being real honesthere, I guess.
(08:34):
So going back to your question,Kimberly, and I think this is
for all the listeners here withus here.
I think like the best way tostart is not to think about how
to make money first.
The, I think the very firstthing is actually to pro, to
learn about protecting yourself,to learn about what people are
doing out there, who can bescamming your money, and like
(08:58):
what are things you should notdo, rather than what you should
do.
in this industry.
So after, after that, then we,after you learn like all the
like tricks of those like badapples, uh, in a, uh, industry,
then we can talk about what arethings you are more interested
in doing than the others.
(09:18):
What kind of skills you canbring to the table that would
give you the less steep learningcurve that would bring, uh, cash
into your pocket quicker.
So that, that would be thingsyou should be going after.
Amazing.
Yeah.
I, I think understanding whatyou're coming into and educating
(09:39):
yourself on, as you said, whatcould go wrong or where to be
careful about is just asimportant as understanding what
is multifamily investing or whatis now being a private money
lender.
All, all of that will come.
And I think as we've seen in ourcommunities.
That we're, we tend to jump inand be like, Oh, I wish I would
(10:04):
have.
And so I, I think that's a veryimportant point of getting your
feet wet, getting some knowledgebehind you, understanding what
can go wrong and.
Ways to protect yourself againstthat is, is key.
Let's talk about, so you'veworked with some big brands in
your marketing career.
Lego, Samsung, Mars, Johnson andJohnson.
(10:27):
How has that experience workingwith those brands?
And you mentioned it a littlebit when we, in that first
question, but how has thatinfluenced how you're
approaching real estate or what,what things are you bringing in
with you from those experiences?
This is a great question,Kimberly.
Thank you for asking because letme talk about a little bit about
(10:49):
myself first, and then I'll goback to answering your question.
What I discovered is that in mymarketing career, I am actually
bringing in my researcher mindinto work.
And now I am in real estate.
I found out that I am bringingmy marketing mind into real
estate.
So everything feeds to eachother.
So I think one thing foreveryone out there listening to
(11:11):
this podcast is that don't feelthat you're blocked by.
real estate investing justbecause you don't have exposure
to this industry yet.
Like there are alwaystransferable skills that you can
bring in, and like sky is thelimit.
So yeah, but Kimberly, back toyour question, what then what am
I really bringing from themarketing world into real estate
(11:32):
then by working with these bigbrands?
What I discovered is that thesebig brands, um, a cross
functional team Collaboration isactually very, very important,
or maybe the most importantthing that happens all the time
in the business world.
And this is super important inmultifamily as well, because
(11:55):
when taking care of a business,no one can do everything, but
communicating with yourcolleagues on like, um, who is
doing what at a time andeventually how people are going
to pass information to eachother to collaborate.
Super important.
And I think like sometimes thismight be sometimes something's
(12:19):
medical professionals can have alittle bit harder time to
understand, especially if youare a doctor.
Well, we love you.
We totally respect that you havevery, very deep knowledge about
your respective field.
What we discover again and againin the, when we work with
medical professionals to helpthem get passive income in real
(12:41):
estate is that they tend to,they tend to first think about a
business as a compartmentalized.
structure, meaning that if youare an expert of something, then
you go ahead and do somethingbecause that's how the medical
work is structured.
It can lead to situations, Ishould say, that medical
(13:03):
professionals have too high oftrust of someone they consider
an expert in the team that willprevent them from doing their
own due diligence to check onthings as well.
And like in this situation, justin case a medical professional
grow to become a generalpartner, operating an asset and
(13:25):
operating a team, um, that canalso lead to situations where
the communication is not thegreatest.
So I think one of my advice topeople out there, no matter you
are a medical professional whois looking to passively invest,
or if you are a medicalprofessional who looks who are
like now looks into operating anasset and becoming a general
(13:48):
partner.
I would say understanding howcross functional team works and
how different department headsor experts are still required to
communicate to each other sothey piggyback off each other's
knowledge and experience tobuild something bigger is
actually very important.
(14:10):
Communication is key in allaspects of life, right?
But it's super important whenyour money is involved.
And especially if you're lendinghundreds of thousands of
dollars, it's very important tomake sure that the people that
you are investing with Our, youknow, have good community, good
communication skills.
(14:30):
Cause that can be very importantdown the line, as we know with
real estate, it never goesaccording to plan.
There's always some hitch in thegiddy up, so to speak.
Uh, there's, there can be delaysin the project.
There can be unforeseencircumstances, hurricanes,
natural disasters, and havingthose open line of
(14:53):
communications and knowing whatthat should be.
Beforehand is super important.
One of the things, uh, I knowsome of the investors I've
worked with are starting to dois especially in, you know, more
of the PML type lending isputting communication clauses in
their contract.
(15:13):
Like this is the expectation.
So it's set up at front.
Uh, so thinking about that andthat communication, let's talk
about how you communicate withyour investors.
How are you in communicationwith your lenders?
To make sure that they'reapprised of the situation and
aware of what's going on.
(15:34):
First of all, even before wehave a deal, I always, always
share the full underwriting withan Excel spreadsheet format with
all the formulas, correctformulas by the way, with all
potential investors.
I also share our operationalteam or our partners track
record with all the investors.
Uh, if you want, actually I havebeen asked that.
(15:56):
We are able to, or we're willingto, share with you even the
source of data, meaning theoriginal T12 or the RAM role,
and for you to verify our, uh,calculation to check on our
numbers.
Honestly, I know not a lot ofpeople do that.
And I have definitely heard frominvestors saying that they were
(16:17):
asked to invest in, uh, forexample, a business or like a
software just just because ofthe big name or like just
because they were asked to trustthe process.
To me, that is not somethingthat can work.
And I would go ahead and tell myinvestors that I am so
transparent that I am confidentwith my numbers being correct.
(16:42):
We check everything.
And I'm so confident that I canshare that with you for you to
check on my numbers as well.
And by the way, I, we have a lotof investors, uh, who are tech
workers.
They are obsessed with numbers.
They always catch something.
So I'm so confident that like,even if you are very data
fluent, uh, we are confidentthat we can explain everything
(17:04):
to you.
So I think that's the firstlayer of communication.
I think that's very important.
And I love your transparencyagain, because you're asking
people to trust you.
With their money, with their,you know, their life saving
stuff that they've worked for,for years.
And I, I find that to be a redflag, yellow flag, whatever you
(17:26):
want to call it.
If you're asking someone who'sasking you for money.
To see the data, to explainthings, and if they get
defensive about that, or, youknow, we, we know that it's
going to work.
So you should just trust us.
They can't explain it to you andthey're not willing to, why not?
(17:46):
Why not?
You know?
So I appreciate that with you.
And I, I find that having,again, it goes back to that open
line of communication.
If you, if you can say, here'swhat we got.
I think you would probably bevery appreciative if one of your
tech friends was like, Hey,actually, this is what I found
and you guys can work on ittogether.
That strengthens therelationship, not hinders it.
(18:09):
So I, I think that's, that'svery important.
Just additional comment thatlike, after we close a deal, we
still maintain that open line ofcommunication that like we have
monthly emails and sometimesZoom calls with our investors
like to talk about updates onour projects.
Outside of that, investors whosubscribe to our newsletters
(18:31):
also hear from me every twoweeks about market updates.
So that kind of goes back toyour, your market research, your
data analytics, like you'repulling all that data and
keeping that front of mind,especially as you're looking for
different projects to invest in.
So that's great.
Let's talk about how you.
(18:52):
So how do you vet your partnersor the operators that you're
investing with?
What are the things that you'relooking for when you're looking
at an operational partner?
So first of all, like there aremany kinds of operators out
there.
We are all looking forexperience once, but I'm like,
(19:13):
you actually have to think foryourself as well.
Who do, what do you mean byexperience?
Yeah.
There are people who are, whowants to only work with
operators who have, um, gonethrough a full cycle for X
number of times.
And that is consideredexperience.
(19:33):
Um, there are also investorswho, uh, prefer working with
experienced operators who hasexperience in the past touching
on very different kind ofassets.
And also there are people whostrongly prefer, um, operators
having only one type ofexperience or one type of access
(19:57):
by going very deep into it.
So nothing wrong with it witheither of those.
Uh, I personally.
like to work with operators whohas at least done one full exit,
one full cycle, and I preferworking with somebody who has
touched a lot of things.
Because like that, I would saylike, it is something like
(20:20):
biodiversity.
It strengthens like what you canpick and choose and what you
learn from different things andthey cross pollinate, um, On the
experience that would inform anewer things or a newer strategy
that always make things better.
So for example, I work withoperators who has experience
from multifamily to storage andto retail and business.
(20:44):
And then I always verify thatlike they have, they are
experienced in that actual onthe ground execution.
So, like, there is also onething that I would like to
highlight here, and, like, it ismy own personal lesson on this
journey.
There was a time I was very datadriven, that I was, um, I was, I
(21:07):
just went ahead and keep lookingfor the best market out of the
best in the United States, andwould do a lot of analytical
work, uh, behind, like, uh,macroeconomics, behind, like,
job growth.
population growth of that kindof thing.
But at the end of the day, whatI discover is that, uh, what
(21:28):
makes you money is the day today on ground execution.
So that actually changesslightly, like the data driven
side of me as well.
And now I work, I, when I lookfor partners to work with, I
always look for ones that has.
Um, that has get their handsdirty.
(21:48):
That is very, very deep into theknow how into how to actually
operate an asset.
So let's, let's switch gears alittle bit for those people, you
know, these professionals,whether they're in the medical
field or, you know, just highnet worth individuals.
(22:08):
Why is real estate a good assetto invest in?
Why should this be part of theirportfolio?
I am going to give everyone aslightly different answer than
what you will hear from otherpeople.
I think a lot of our colleagueswill answer this question saying
that like, it is a nice, you canearn a nice cash flow
(22:29):
depreciation, appreciation.
And you get like tax breaks fromthe depreciation you are getting
from investing in multifamily.
That means you have a paperloss.
And those are all the goodthings for sure.
And I'm totally not saying thatour colleagues are wrong.
But one of the most importantthings that you should
(22:52):
understand.
And if you have a chance to talkto investment bankers or private
wealth managers, they will tellyou something very different
than us.
Not a lot of our colleagues talkabout the real unlock of
multifamily is actually thedouble dipping nature of it.
(23:13):
And here it means that the truehigh network professionals out
there at a family officesactually have a mixed portfolio
of stocks.
Bonds, real estate, businesses,and cash in their investment
portfolio.
And the real unlock actuallylies in having stocks.
(23:38):
Non physical or paper assets,and they go ahead and get a
security backed loan to doubledip into real estate, so they
make even more.
Instead of only having stocks intheir portfolio making money,
they are basically recycling themoney or leveraging what they
already have to double dip intoreal estate.
(24:00):
And that is a real unlock.
So I don't think a lot of ourcolleagues understand this
enough to present the data orthe thinking that way.
But actually this is a veryimportant thinking when for high
network professionals,institutional investors and
family offices.
Interesting.
Okay.
Okay.
(24:20):
I'm not quite sure if you'resaying that they're taking, um,
Are they taking loans againstthe stocks that they're
investing and then using that?
Really?
Yes.
Mind blowing.
Okay.
And so you said that becausethey're investing in real estate
because it's a security backedinvestment.
(24:43):
Yeah.
And that, and that way they willhave both paper assets and non
physical assets in their intheir portfolio that it, that
becomes a nice hatch ordiversification.
Nice.
Okay.
So much, so much to learn.
See, look at the rabbit holewe're going.
Yeah, we, yeah, this is a verydeep rabbit hole.
(25:03):
And I just, I actually learnedabout this only fairly recently
by speaking with my old New Yorkfriends who works at Wall
Street, who served at GoldmanSachs, like all the bravest
families in the world.
And is this different from howinfinite banking works?
Or is it that kind of the sameprinciple?
(25:24):
A little bit different, becausethis does not involve insurance.
And of course, I am not at this,I'm not a CPA or financial
professional financial advisoris like everyone should consult
their own professional for yourown little situation.
But yes, like that this Involveslike, um, stocks and like
(25:45):
security back loan instead,which works a little bit
different from insurance andlike, and also likes, um, speak
stock only portfolios.
Interesting.
Okay.
So, yeah, I think the diversityis the big thing.
Your investment advisor tellsyou to have diversity within
your portfolio of stocks, butwhy not have diversity in the
(26:07):
investments themselves?
And I think kind of as a broadoverview, I think that's good.
And yes, we are not any taxprofessional, legal advice, none
of that here.
Yep.
Um, let's, let's talk aboutmindset a little bit.
What mindset shifts have beencrucial for you and your journey
from your marketing and intoreal estate investing?
(26:31):
Well, uh, I would like to toucha little bit about shiny object
symptom.
A lot of people are afraid of itmore.
Of course, it.
I would say the first thing isthat you should not be afraid of
it, embrace it, because this isnatural, especially in a real
estate world, because a lot ofus have seen a lot of things.
A lot of people are making moneyon their own terms in their own
(26:55):
way, to a point that it wouldthere, it really triggers a
very, very deep of FOMOpsychology.
So very first thing I would sayis that don't be afraid.
It is very natural.
Striking objects that Tomhappens to.
Every one of us.
I recently actually personallyexperienced a rollback of shiny,
(27:17):
shiny object symptom, meaningthat I thought I came out of it
last year and then I feel thatI'm rolling back into this shiny
object symptom again.
And this is why.
At the very beginning, when Iswitched from single family to
doing multifamily, I thought Ihave already settled.
(27:37):
In the thinking that I will belaser focused in a multifamily,
but as you dig deeper into thisworld, there are still a lot of
things that can happen in themultifamily world, and they all
can lead to profits or revenues.
So I feel that I am now goingthrough a rollback, meaning that
I am into this.
(27:59):
shiny optic symptom again, nowat the phase of picking out more
narrowly what under themultifamily umbrella I would
like to do.
So, uh, I would say if we talkabout mindset, I just want to
remind everyone that this isvery natural and don't be afraid
of a rollback, because ittotally So that's nothing about
(28:22):
your not like you missing on anaccomplishment or not having any
successes.
It's not that at all.
It's just that naturally, as weall grow and become more
knowledgeable, and we connectthe dots, you will discover that
there is always an opportunityfor optimization.
And here, if we're talking aboutmindset optimization of some
(28:46):
kind.
I would argue that it is aboutfurther narrowing down what you
would like to do so you don'tlose focus.
And that would be the start of,uh, writing down a more longer
term business plan for your owndevelopment as well.
And actually like, this is alsowhat I'm going through right
now.
Oh, awesome.
Well, thank you for sharing thatwith us and for being kind of
(29:09):
vulnerable about that because I,I have found in my life that I
had to go broad in order to gonarrow.
I had to rule things out inorder to know where I needed to
be.
And it felt like a lot of shinyobjects when I was, was doing
that.
But it helped me say, okay, Idon't like that.
(29:30):
Or I like this piece of it, butnot the rest.
So I'm going to take that withme.
And I think that's how, how wecan kind of hone in on what
we're good at, what we love todo, what we're best at and, and
use that to cultivate, you know,a career path or, um, you know,
revenue generating system ofsome sort down the, down the
(29:53):
road.
So I appreciate that quite abit.
As you are Diving into thisworld and thinking about those,
those next steps.
Where, where would you like tobe in the next five years?
What would that.
Michelle look like where wouldyou like to be?
(30:13):
I appreciate this question.
Um, we're actually now pencilingdown a three year business plan
ahead of us for our real estatework.
Down the road, we are reallyinterested in doing affordable
housing and so we're livingbecause we would like to
transform the real estate wealthinto helping people and bringing
(30:33):
communities together.
We are now planning to take babysteps before we can fully
realize these things.
And we're being very realisticabout these things.
Because of this, now the shortterm focus will be to investing
in small scale projects.
Uh, coming in as partners ormaybe as a lender, and then down
(30:56):
the road, we will be rolling upto doing more fix and flips with
scale and eventually going intoaffordable housing.
I like that idea of creating animpact as well as an income and
that coming together in abeautiful way.
You know, we can help morepeople if we're making more
(31:18):
money.
And, you know, and in turn beingable to help those around us.
So I appreciate that.
If you could give one piece ofadvice to someone looking to
elevate, maybe it's theircareer, their finances, maybe
it's their mindset.
I know this is kind of broadquestion, but what would that
be?
What's one piece of advice thatyou wish maybe you had?
(31:40):
Don't listen to other people.
Well, I have the, I'm gonnaexplain a little bit about this.
I think there are a lot ofinfluencers, gurus, or teachers,
mentors, however you want tocall it, are trying to promote
the idea that there are, thereare certain ways of doing things
(32:03):
that is more correct than theothers.
But like the more you thinkabout it, or the more you learn
about it, the reality is thateveryone finds their own way of
doing things and successesactually comes In a particular
configuration that isundividable away from that
(32:26):
person's personal backgroundexperience and also exposure to
certain, to certain situationsor even networks of people.
So I, so I think that, forexample, one example that I
think about it again and againis that there will be a lot of
gurus out there who will tellyou that don't think too much,
(32:46):
don't analyze too much, justtake action and you will learn.
I am actually still the completeopposite, which is that I love
to research on things.
I love to know ahead what arethings that I should not do
before I take action.
And that is serving well for me.
And I like to insist on thatway.
(33:07):
I don't, I totally do not liketaking action immediately.
But like, again, this issomething if it works for you,
it works for you.
So I would say that it,Eventually, if I have to give
one advice to people, I wouldsay, do it your way.
Do it the way that makes youmost confident, and do it, start
(33:29):
in a way that has the best useof your existing knowledge,
experience, or resources, andcome up with your own
configuration.
When you're taking otherpeople's advice.
It does not mean that you haveto switch to their model
completely, but rather add theirvaluable advice into your model
(33:52):
that grows your offer orperfects your configuration.
I appreciate that so much.
There's no one right way to doit, and we're all going to do it
a little bit differently.
We're all going to have our ownlittle flair to it.
And that is something I wish Iwould have known when I was 20,
(34:12):
for sure.
So thank you very much for that.
Thank you.
This has been an incredible,incredible conversation.
I've learned a lot.
Now I have a lot more questionsabout some things, but where can
our listeners connect with youand learn more about your work
at StudyWorkCapital, which isthe name of your company?
Where can they find you?
(34:33):
Yep.
No worries at all.
So you're welcome to scan thisQR code.
It will lead you to my digitalbusiness card and you can
download right there.
My contact information.
Otherwise you're more thanwelcome to DM me with any
questions on Instagram at investwith Mitch.
I'm now on threats as well.
And I am using threats as my ownreal estate.
(34:56):
Journey diary, which I will befreely writing about what I'm
doing day to day, how I amthinking about certain things,
just like, well, it's just afree space for me to express
myself.
And of course, you're more thanwelcome to check on my website,
SteadyWorkCapital.
com or go to SteadyWorkCapitalslash subscribe to subscribe to
(35:17):
our multifamily newsletter.
Amazing.
All right, everyone, pleasecheck her out.
She's got incredible thingsgoing for her.
And I'm going to check you outon threads.
I'm just now learning aboutthis, this whole new shebang and
social media.
So I'm excited to follow youthere.
All right, everyone.
Thank you so much.
And until next time, have a goodone.
(35:39):
Thank you.
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.