Lee Yoder, CEO of Threefold REI, shares his journey from physical therapist to apartment syndicator and the growth of his real estate portfolio. Over the past two years, Lee has acquired several apartment complexes and transitioned from third-party property management to in-house management. He discusses the challenges and rewards of this transition, including implementing property management software and managing employees. Lee emphasizes the importance of patience in the current real estate market and advises investors to focus on the long-term game. He also highlights the mission-focused approach of Threefold REI and the company’s commitment to providing quality housing for residents.
Listen to the podcast here or on your favorite podcast app:
[buzzsprout episode=’15587963′ player=’true’]
Watch the Episode Here:
Main Points:
- Transitioning from third-party property management to in-house management can be challenging but can also lead to cost savings and greater control over the properties.
- Implementing property management software requires a learning curve, but it allows for better financial management and streamlining of processes.
- Hiring and managing employees can be rewarding but also comes with its own set of challenges, such as payroll, benefits, and team dynamics.
- In the current real estate market, patience is key as prices remain high and interest rates are increasing. Opportunities may arise as distressed owners look to sell.
- Real estate is a long-term game, and success comes from operating properties well and focusing on providing quality housing for residents.
Connect with Lee Yoder:
- lee@threefoldrei.com
- https://threefoldrei.com/
- linkedin.com/in/lee-yoder-25793215a
Biography of Lee Yoder:
Lee was practicing physical therapist when he realized his true passion was building his own business and investing in real estate. He took this passion and considerable action to quickly build a portfolio with several small apartment buildings. He was able to quickly reposition this portfolio, bring it full cycle, and provide an incredible return for his investors. Today, Lee is focused on syndicating larger apartment buildings. He is the founder and visionary behind Threefold Real Estate Investing, and he’s committed to forging a path that will generate incredible wealth and opportunity for all involved. His focus is driving the business forward by forging 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, which discusses multifamily real estate investing, while also focusing on pursing better relationships with family and a better walk with Christ.