The Path to 2000 Units & More - with Devin Elder | TLS071

In this episode, Devin Elder, Founder of DJE Texas Management Group LLC, walks us through his transition from a corporate job to single-family investing to large commercial multifamily investing and how he has acquired over 2000 units.

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KEY TOPICS:
2:15 - What Devin was doing before real estate and how he got into the business
3:35 - the importance of going "all-in"
5:05 - the importance of networking with people who are doing what you want to do
6:30 - how he made the jump from the corporate world and what were the steps that he took
12:22 - how a mastermind group was critical in helping him to build relationships early on
15:05 - the importance of knowing your goals and where you want to end up
16:42 - his suggestion for 3 steps to carving a path into multifamily investing.
19:45 - how bringing on a partner in his residential business freed him up to scale his multifamily business
21:45 - how he's built his team over the years and what does it look like today
23:15 - why he started a property management company
26:45 - what markets he operates in and his thoughts of investing with an out of state deal
29:15 - The importance of local knowledge
31:15 - The biggest mistake he made that we could all learn from
32:45 - what's the biggest win you've had on your journey
32:30 - what's the best advice you have for someone looking to get into the multifamily space.

KEY QUOTES:
"I believe in paying for shortcuts... getting out there and doing it without a mentor is super risky"

"Multifamily is almost easier in some ways. Flipping houses is definitely a one-man show. Multifamily is so big it requires a team and functions more like a real business."

ABOUT OUR GUEST:

Devin Elder is sole owner of DJE Texas Management Group LLC, which manages all aspects of acquisition, repositioning, and sale of single-family and multifamily properties in Central Texas. DJE Texas Management Group has successfully completed over 200 Real Estate renovation projects since 2012, with renovation budgets ranging from $10k to $1.2MM+. DJE Texas Management Group currently has an ownership interest in over 1,400 units of multifamily in Central Texas valued at over $130MM.

Devin earned a Bachelor of Business Administration from the University of Texas at San Antonio, and has been married to his wife Amber since 2008. They reside in far North San Antonio with their three children.

CONNECT WITH OUR GUEST:
Website: https://djetexas.com/

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