In this episode, Wayne talks to The Kitti Sisters—Palmy and Nancy—about how to mitigate risk for both passive and active investors. The Kitti Sisters discuss their journey of owning over 11 apartment projects with more than 2,600 doors.
Palmy and Nancy are first-generation immigrants who were reliant on one income stream despite owning successful fashion manufacturers. The income they worked so hard for dried up. They had to find a different way to financial freedom.
The Kitti Sisters became entrepreneurs, real estate investors, and apartment syndication experts. They are dedicated to teaching others how to live their lifestyle dreams without having to manage apartment complexes or find tenants.
Topics on Today’s Episode:
- Backstory: Why Palmy and Nancy transitioned from world of fashion to real estate
- Why real estate syndication? To escape daily grind for stability, reliability, and scalability
- Why start small?! Takes too much time, money to buy houses, make comfortable living
- Why apartment syndication? From flipping business to passive investors for cash flow
- Hurdles: Culture, not immigration status was challenge to buy large, multifamily assets
- Inflation: How Kitti Sisters underwrite with federal loan rate changes, supply challenges
- Multifamily Markets: Consider cap rates, affordability, supply, demand, other variables
- Risk Mitigation: Any investment comes with risks, try your best to mitigate known factors
- Additional Asset Classes: Diversify in multifamily but concentrate to build wealth