Real estate investors come in many different shapes and sizes. Some young, some older. Some with financial resources, others without. But the one thing they ALL have in common is hustle. They balance learning with DOING, taking action to achieve their dreams of financial freedom through multifamily.

David Kamara was working a demanding job in management consulting, traveling as much as 48 weeks a year. In an effort to spend more time with his family, David enlisted the help of a mentor to fast-track his real estate career and closed on his first 40-unit multifamily deal in October of 2018. Within a year, David had replaced his income, and today, he has a portfolio of 247 units. He runs his own management consulting business as well as Cape Sierra Capital, an apartment building investing firm that focuses on undervalued multifamily properties in the Midwest and Southeast US.

On this episode, David joins me to explain how his daughters inspired him to make time for multifamily and what he did to get started.  He walks us through his first 40-unit deal, discussing how having a mentor helped get brokers to take him seriously. David also shares his experience with the Law of the First Deal, explaining how he had two more deals under contract within two months of closing! Listen in for David’s advice to aspiring multifamily investors and learn his action-oriented approach to achieving financial freedom—with or without financial resources of your own!

Key Takeaways

David’s initial real estate goals

  • Buy one house per year
  • Scale up to build wealth

What made David’s plan change

  • Demanding new job as management consultant
  • Moved to Michigan with growing family (4 kids)

What inspired David’s shift to multifamily

  • Work-life balance suffering
  • Replace time spent training for marathons

What David did to get started

What David liked about his first 40-unit deal

  • Nearby complex rents $100 more (wait list)
  • Major employer in area

How David got brokers to take him seriously

  • Introductions from mentor
  • Use right language to avoid proof of funds

David’s experience with the Law of the First Deal

  • Found 18-unit in Chicago within 2 months
  • First broker proposed partnership on 37-unit

David’s first multifamily syndication deal

  • Fully rented 94-unit in MI college town
  • Investors from professional network

How David found time to do real estate with a full-time job

  • Wake up early, stay up late
  • DECIDE to make time for what’s important

David’s advice for aspiring multifamily investors

  • Balance learning with DOING
  • Go out and buy multifamily property

What David would have done without financial resources

  • Create sample deal package
  • Educate potential investors, address objections

Connect with David Kamara

Cape Sierra Capital

Email david@capesierracapital.com

Call (773) 263-2657

Resources

Syndicated Deal Analyzer

The Ultimate Guide to Buying Apartment Buildings with Private Money

LoopNet

Josh Sterling on ABI EP091

Josh Sterling Mentor Bio

Deal Maker Live

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

Michael’s Mentoring Program

Financial Freedom Summit

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

The Secret To Raising Money To Buy Your First Apartment Building

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