Ep #70 - Beginning with a $200,000 2nd mortgage on their father’s home in 2006, the Worcester family started flipping houses and quickly moved into buying duplexes, triplexes, and apartment buildings. Today Worcester Investments owns and operates 3,000+
Lifetime Cash Flow Through Real Estate Investing
Rod Khleif
4.8 • 1.4K Ratings
🗓️ 14 November 2016
⏱️ 43 minutes
🧾️ Download transcript
Summary
Beginning with a $200,000 2nd mortgage on their father’s home in 2006, the Worcester family started flipping houses and quickly moved into buying duplexes, triplexes, and apartment buildings. Today Worcester Investments owns and operates 3,000+ multifamily units in the greater Kansas City Metro area valued at $150,000,000. The Worcester family is 1/3 of the way to their goal of owning 10,000 multifamily units.
Here’s some of what you will learn:
- Bootstrapping 101
- Starting with 3 brothers and their father in a 100 sq. ft. office, in 7 years Worcester Investments has grown to 120 employees located in a 10,000 sq. ft. corporate office in a prime location.
- Scaling your business.
- Progressing from single family to duplexes, triplexes, 60 units, to 96 units.
- A lesson in persistence.
- Don’t stop until the problem is solved.
- Expanding your investor base.
- Developing your team members.
- The importance of having a clear vision in your head.
- Why you should have a BHAG! (Big Hairy Audacious Goal!)
- Book recommendation: Rich Dad Poor Dad by Robert Kiyosaki
Our Guest
You can learn more about Paul Worcester at:
http://www.worcesterinvestments.com/
Want to build Lifetime Cash Flow from Multifamily Properties?
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Recommended Resource
- Looking to invest in a multi-family real estate project? Want to partner with me personally on a deal? To schedule a time for us to talk click on this link: http://meetme.so/RodKhleif
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Transcript
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| 0:00.0 | We had a vision originally of, you know, we wanted to have 10,000 apartment units and I don't know where we came up with that number. |
| 0:06.7 | And I had no concept of how difficult that would really be, but we're a third of the way there. |
| 0:14.0 | Welcome! This is the Lifetime Cash Flow through Real Estate Investing Podcast. |
| 0:19.5 | This is where you learn strategies to help you achieve lifetime financial freedom through real estate |
| 0:24.2 | investment. |
| 0:25.2 | Your host Rod Cleef has owned over 2,000 homes and apartments. |
| 0:30.4 | And he brings experts in all aspects of real estate investment and management onto the show. |
| 0:35.0 | Now here's your host, Rod Cleese. |
| 0:40.0 | Welcome to another edition of How to Build Lifetime Cash Flow. |
| 0:43.2 | I'm Rod Cleef and I'm thrilled you're here. |
| 0:45.5 | And I know you're going to get a ton of value from the guy we're talking to today. |
| 0:49.1 | You're not going to want to miss this episode. |
| 0:51.2 | His name is Paul Worcester or Worcester depending on where you live and Paul's |
| 0:56.2 | family has a family-owned investment business and they own over 3,000 units in the Greater |
| 1:01.9 | Kansas City Area that are valued over 150 million. |
| 1:05.7 | And frankly what's astounding is they've accomplished this over 10 years and that's astounding |
| 1:10.4 | that it's a family-owned business as well. |
| 1:13.0 | And you know, I know, I've said this to you guys before. |
| 1:16.3 | If you want to be a success, you model someone that's a success. |
| 1:19.6 | And, you know, Paul and his family definitely fit that bill so Paul I'm thrilled to have you on the show buddy |
| 1:26.7 | Thank you Rod so what I like to do in a situation like this because it's difficult for people to imagine owning a portfolio as large as yours |
| 1:35.5 | because I have a lot of my listeners are just getting started in the business so I'd like if |
... |
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