AREI 48: How To Get Back Up From A Bad Deal with Tate Siemer
By investing in one or more apartments, you can build wealth across generations and gain more freedom and opportunities in the future. You may think that good locations, well-maintained units, attractive common rooms, and proper equipment will keep your occupancy high and increase the asset value of your apartment. The truth is not enough.
In this episode, Tate Simmer shares his story on how he recovered from bad property deals and how he applied a certain formula that would get him the results that are almost a Miracle. Join us and Listen in!
Tate Siemer is the visionary and CEO of GreenLight Equity Group, which currently owns 572 units in Oklahoma City, Utah, and Columbus, OH. Tate’s passion is improving apartment buildings in such a way that maximizes the value of the community. Tate hosts “The Apartment Guys Podcast” and serves on the Executive Board of the Utah Real Estate Investor Association. He enjoys helping fellow investors and entrepreneurs through mentoring and coaching.
Opening Segment
[00:01 - 01:20]• We welcome Tate Simmer to the show
[01:21 - 06:22]• How he started investing in real estate.
[06:23 - 12:29]• From Flipping houses to Multifamily Investing.
[14:51 - 20:06]• How did you change your mindset to keep moving forward?
○ Miracle Morning and The Miracle Equation.
○ Be big on patience and keep going.[20:07 - 24:57] • Why we wanted to partner with Tate and his company.
○ What to ask a syndicator you want to work with?
○ Patience is Being Present.
○ How you choose the situation that defines you.
[24:58 - 29:49]
• Staying resident focus and avoiding a bad deal.
• Risk mitigation is important
[29:50 - 34:19] Closing Segment
• Asking Tate the Adventurous Four
Memorable Quotes:
"Instead of panicking, every time you came across an obstacle like that, you just pivot. And like a lot of successful real estate investors too, is like, you learn how to, take everything you can from the learning opportunities and pivot from those. and really Learn and move forward and just keep pushing forward, which is really awesome." -Michael Barnhart
"The miracle equation, in particular, is so powerful in that it's all about unwavering faith plus extraordinary effort equals miracles. And when I got, when I started thinking about that and, and thinking about the situation we were in, it was like, okay, I have a choice here as to my story about what's going on here and how it's going to turn out in the end." -Tate Siemer
Until next time...
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