Ep 124: Make the Move to Multi-family with Kayla Fecik
Kayla Fecik received her real estate license when she was just 21. Years later, Kayla has become an expert in the space having since gained experience flipping houses, investing in single-family, and now venturing into multi-family. In this episode, we speak with Kayla to find out more about her journey in real estate, collecting various nuggets of wisdom as we go. We kick off the episode by hearing about Kayla’s professional background. Following this, Kayla tells listeners why she decided to go into rentals after honing her skills in flipping. We then turn our focus onto Kayla’s deals as she shares the types of deals that she invests in. As our conversation develops, Kayla discusses how she made the transition from single-family to multi-family. We learn that although scaling up slowly can provide value in the form of knowledge, sometimes the jump between single-family and multi-family isn’t as scary as one might think; provided you know how far to jump. Toward the end of the episode, Kayla chats about her method for buying properties and she describes the unique relationship she has with her passive partners. To conclude our conversation, Kayla tells us about her 2021 goals and charitable dreams for the future.
Key Points From This Episode:
Introducing today’s guest, Kayla Fecik.
Kayla shares her professional history with listeners.
Why Kayla decided to get into rentals after honing her house-flipping skills.
How Kayla finds deals, and the types of deals she looks for.
Hosts Chris and John share their landlord experiences with Kayla.
How Kayla made the transition from single-family to multi-family.
Kayla’s methods for buying properties.
The types of properties Kayla looks out for.
Kayla talks about her tenants and the relationship she has with them.
Hear Kayla’s real estate goals for 2021.
Chris asks Kayla about her future strategy, focussing on a capital perspective.
“At the end of the day, flipping and wholesaling is so transactional, it’s so high volume. If you stop and take a break, you’re not making money.” — Kayla Fecik [0:02:25]
“The more I talk to mentors, they tell me, ‘if you can do six single-family, you can do 30 units in a multi-family.’” — Kayla Fecik [0:14:35]
“We have two partners that we buy our properties with. They bring capital to the business and are more or less passive, but want to learn the business as well — they bring money and we bring the market expertise.” — Kayla Fecik [0:18:04]
“Stop complaining. Some parts are easy, some parts are harder, you just gotta figure out the hard parts and work through it.” — Kayla Fecik [0:36:30]
Links Mentioned in Today’s Episode:
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