Would David Kamara have figured out how to invest in multifamily on his own?
Yes, but at a much slower pace.
Working with a mentor accelerated his success. And now, the student has become the teacher.
David is a seasoned investor and mentor with the Michael Blank program. With 15 years of experience in real estate, David owns 1,000-plus units across the Midwest, primarily in Michigan and Iowa.
David is also a successful management consultant and sought-after advisor to C-suite executives and private equity investors. And he is fluent in five languages!
On this episode of Financial Freedom with Real Estate Investing, David joins guest host Marybeth Noonan to share his early wins as a student in our mentoring program.
David describes a near-perfect deal he manages in Marquette, Michigan, and discusses how he problem-solved an unexpected situation where the property taxes on a pending deal tripled.
Listen in for insight on trusting your resourcefulness as an aspiring investor and learn how a mentor like David can fast track your success in multifamily investing.
Key Takeaways
How David got into real estate investing
- Realized mortgage payment less than rent
- Started slowly with SFHs and duplexes
- Still didn’t control time despite owning business
- Shifted to multifamily to achieve scale
David’s experience as a mentoring student
- Willing to do work involved
- Closed 5 deals in first year
Why David likes being a mentor for our program
- Helps students progress at much faster pace
- Change students’ lives for better
David’s near-perfect deal in Marquette, Michigan
- Took 9 months to close per seller’s request
- Used HUD loan (15% down and 2.4% interest)
- Premiums on rent in low inventory market
How David handled an unexpected situation
- 55-unit deal in Jackson, Michigan
- Property tax jump from $60K to $180K
- Contacted seller and received extension
- Selling broker contested taxes with city
- Closed deal after taxes reduced to $95K
David’s advice for aspiring real estate investors
- Can be messy, unpredictable business
- Trust your ability to solve problems as arise
Connect with David Kamara
David at the Michael Blank Mentoring Program
Connect with Michael Blank
Apartment Investor Network Facebook Group
Email [email protected]
Resources
Explore Michael’s Mentoring Program
Watch Michael’s Apartments 101 Masterclass
Join the Nighthawk Equity Investor Club
Schedule a Call with Michael’s Team
Review the Podcast on Apple Podcasts
Financial Freedom with Real Estate Investing by Michael Blank
