Real Estate Investment Coach, Edna Keep joins us on today’s episode of The Art of Passive Income to talk about multi-family investing and the power of leveraging other people’s money!
Edna is the co-founder of 3D Real Estate, Profit in the Prairie Real Estate Investor Group and Multiple Ways to Wealth—a training, education and membership organization for real estate investors. Edna has built her own real estate portfolio to over 437 doors valued at over 47 million (update: 520 doors with a value of over 60 million dollars). She personally owns 14 doors with her husband Warren, and the rest are with joint venture partners.
Before real estate, Edna was a financial advisor and sold mutual funds… she not only sold mutual funds, she believed in it… she drank the Kool-aid! So why the change to real estate?
Once I learned how real estate worked, I couldn’t sell mutual funds anymore. It just didn’t make any sense to me. So, within two years’ from buying our very first property, I sold my financial planning practice and went into real estate full-time.
Join us as Edna shares why she left the world of financial planning to pursue real estate, primarily multi-family. She delves deep into her model in which she brings in investors as full joint venture partners then focuses on getting them paid off as quick as possible. Most of these partners are passive investors looking for a great return without being actively involved in generating it.
Edna shares the details on:
- Why she thinks 12-36 doors is the sweet spot
- The numbers
- Why she chooses joint venture over the fund route
- The worst advice she’s seen given in her area of expertise
We pay our investors out first before we share in the profits. So we can’t win unless they win.Edna Keep
She also shares the details on a deal she’s working on now that will land her a $200,000 profit in 6 months all financed with someone else’s money!
Listen in now to find out the secrets of how this single mom at age 16 went from subsidized housing to a multi-million dollar real estate investor/coach. Edna Keeps it real, in Real Estate!
Mark: Learn more about multifamily and how to start building your passive income in this incredible niche using other people’s money at EdnaKeep.com.
Scott: Read the book, The Art of Social Media: Power Tips for Power Users by Guy Kawasaki. Guy is a big sharer of information. He’s a wealth of knowledge and just to be able to take his strategy and look at it and put it into practice is really, really cool.
Edna: One tip, when it comes to earning passive income, hire a coach—somebody who has done what you want to do.