Ritter on Real Estate Building a Multifamily Portfolio From Across the Ocean with Billy Keels
Billy Keels always knew about the importance of having diverse income streams, but it took a few knocks for him to recognize the power that lies in real estate investing. Billy’s colorful life experiences led him to settle down in the South of France. However, his real estate investments are situated in his home country, the United States. Billy talks us through the dynamics of investing across the ocean, and how he has made a success of this endeavor while still maintaining a full-time day job that he loves. After managing everything on his own for a while, Billy realized the value in finding strong team members whose values align with one's own (just like you would in a marriage partner!), and he explains the process that he goes through to find those people. There are numerous real estate markets that have investment potential, and Billy stresses how important it is to make your goals clear before making a decision about where you are going to put your hard-earned cash. Not every deal is going to be a home run, but don’t let that stop you from taking action and always continuing to move forward.
Key Points From This Episode:
- Lessons about work ethic that Billy learned from his parents at a young age.
- The work/travel experience Billy had after college and how that benefited him later on.
- Where Billy has been working for the past 15 years.
- Knocks that Billy took in 2000 and 2008.
- Billy’s journey into the real estate space, and why he chose to invest in the United States even though he was living far away.
- Why Billy chose to move from active to passive investing.
- Parallels between Billy and Kent’s real estate career paths.
- The importance of making your goals crystal clear before you start investing.
- Building a strong relationship with a team is a key element to success.
- Advice about how to find team members who are in alignment with your vision.
- A key element of the sponsor-investor relationship that helps Billy sleep well at night.
- Syndications are not always going to work out as planned; that’s part of the deal.
- The five languages that Billy speaks, and how he became multilingual.
- Why Billy will always ask a deal sponsor about the deals they’ve done which didn’t go as well as they had hoped.
- Billy’s highly recommended book that changed Billy’s perception of the world.
- Keep moving forward; final words of wisdom from Billy.
Links Mentioned in Today’s Episode:
Going Long Podcast with Billy Keels
Schedule a Call With Billy Keels
The Creature from Jekyll Island
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Production by Outlier Audio