Real Estate Journey from Professional Physical Therapy w/Lee Yoder
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Episode Description
Welcome to the Freedom Point Real Estate podcast! Lee Yoder joins Jeremy Dyer in today's episode to share how he originally got involved in multifamily investing, his thoughts on whether or not now is a good time to invest in multifamily, and more.
Lee was a practicing physical therapist when he realized his true passion was building his own business and investing in real estate. Today, Lee is focused on syndicating larger apartment buildings, and is the founder and visionary behind Threefold Real Estate Investing. Lee is committed to using his God-given gifts to forge a path that will generate incredible opportunities for all involved. His focus is driving the business forward by establishing new relationships with top-notch professionals in the real estate world and bringing on more partners to invest alongside Threefold. Lee also hosts a podcast, Threefold Real Estate Investing. Lee and his wife, Hannah, currently reside in Ohio with their two children and many farm animals. When he is not working in real estate, Lee enjoys spending time with family, working to build their homestead, and cheering on the Buckeyes and the Bengals. Lee is a man of faith, whose greatest desire is to reflect God to his family, within his business, and to all those God places in his path.
CONNECT WITH LEE YODER!
Website: https://threefoldrei.com/
LinkedIn: https://www.linkedin.com/in/lee-yoder-25793215a/
CONNECT WITH JEREMY DYER!
Website: https://startingpointcapital.com/
Instagram: https://www.instagram.com/startingpointcapital/
LinkedIn: https://www.linkedin.com/in/jeremydyer
Facebook: https://www.facebook.com/startingpointcapital
Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12
Summary
Tip #1: Integrating Family into Business
"We enjoy each other, so it’s really fun as well." Lee Yoder emphasizes the importance of incorporating family into business activities. By working together, families can strengthen their bonds while also achieving business goals. Lee's experience shows that enjoying each other's company can make the business journey more rewarding.
Tip #2: Fostering Entrepreneurship in Children
"My 17-year-old son owns his own Lawn and Landscape company." Jeremy highlights how fostering an entrepreneurial spirit in children can set them up for future success. Encouraging children to start their own businesses teaches them responsibility and business acumen from a young age. This approach helps in building a generation of entrepreneurs within the family.
Tip #3: The Role of Faith in Investment Decisions
"My faith really just grounds me and causes me to take a step back." Lee discusses how his faith influences his investment decisions and keeps him grounded. By seeing the world through the lens of faith, he prioritizes people and relationships over mere financial gains. This approach ensures that investments align with personal and ethical values.
Tip #4: The Benefits of Multifamily Investments
"Assets like multifamily look, and there's a bunch of other ones too, are going to keep going up." Lee explains why multifamily investments are a reliable choice for preserving and growing wealth. The stable and increasing demand for housing ensures that multifamily properties appreciate over time. Additionally, these investments offer significant tax benefits and steady cash flow.
Tip #5: Navigating Economic Cycles in Real Estate
"It's a really hard time to find a good deal." Lee provides insights into how economic cycles affect real estate investments. He stresses the importance of being patient and strategic during tough economic times. By focusing on properties that cash flow early on, investors can weather economic downturns more effectively.
Tip #6: The Importance of Cash Flow in Real Estate
"I want to cash flow, that's what real estate should do for you." For Lee, cash flow is a critical component of a successful real estate investment. Properties that generate consistent income ensure financial stability and reduce reliance on market appreciation. Investors should prioritize cash-flowing properties to achieve long-term financial goals.
Tip #7: Leveraging Economies of Scale
"We'd love to buy more properties close to our other properties." Lee discusses the benefits of acquiring properties within close proximity to each other. This strategy allows for better management efficiency and cost savings through shared resources. Leveraging economies of scale can significantly enhance the profitability of a real estate portfolio.
Tip #8: Understanding the Impact of Inflation
"The inflation monster... if you can't beat it, you might as well join it." Jeremy and Lee talk about how inflation affects investment strategies. Investing in real estate, which typically appreciates with inflation, is a hedge against the devaluation of currency. Understanding and adapting to inflation trends is crucial for long-term investment success.
Tip #9: Seeking Continuous Growth and Improvement
"We want to do more of that and manage them ourselves." Lee emphasizes the importance of continuous growth and improvement in business operations. By managing properties in-house, investors can maintain higher standards and improve profitability. Constantly seeking ways to enhance business practices ensures sustained success.
Tip #10: Building a Supportive Network
"Good to have fellow people like yourself to hold each other accountable." Both Jeremy and Lee recognize the value of having a supportive network of like-minded individuals. Accountability partners can provide motivation and guidance, helping investors stay focused on their goals. Building a strong network is essential for personal and professional growth in the investment world.
