93: Building Wealth Through Multifamily Real Estate

Behind Their Success: Episode 93

Ken: [00:00:00] Do. Right? Your parents told you, go to school, get good grades, you get a good

corporate job, you are set. Yeah, set for life. Set for life. And then I realized. Uh, oh. My family's

gonna grow up without me, and that really, really, really made me sad. So, you know, those 3:00

AM feedings really, were a wake up call for me.

Paden: Hello everybody. Welcome to Behind Their Success Podcast. I'm Paden Squires, the

host, and today we are diving into the world of real estate investing. We have a industry leader

in Ken Gee. He is the founder of KRI Partners, a seasoned investor and educator with over 2

billion in transactions and more than 26 years of experience.

Ken started his career as a CPA and now is big time in the multifamily space. Really interested

as a CPA myself to get to know his story a little bit more. Again, welcome on Behind Their

Success.

Ken: Well, thanks for having me. I'm looking forward to it.

Paden: Yeah, absolutely, Ken. So tell us a little bit about what you do and how you got there.

Ken: [00:01:00] Yeah, I'll be brief. I grew up in Toledo, Ohio. Got my undergrad at the University

of Toledo, moved to Cleveland where I pursued a master's degree at Case Western Reserve.

While I was doing that, I was a commercial lender for five years. Got to see a whole lot of

people, make a whole lot of money to the bank.

They all wanted to hear from their CPA. I decided I wanted to be that guy that people actually

wanted to hear from, so that's why I went to school at Case to get my master's degree to go

ahead and be a CPA. I went to work for Deloitte for seven years on the tax side. So I did tons of,

actually a little bit of compliance, but a lot of merger and acquisition, equity work, due diligence.

It was there that I realized that I needed to do something different. 'cause my family was young.

My daughter had just been bored. I used to do her 3:00 AM feeding 'cause. I worked 80 hours a

week and my wife needed a break, so that was my time with my daughter at three in the

morning. And if you're a dad, you know, that's pretty cool.

Father daughter time is cool even if it is three in the morning. And it was cool until I realized, wait

a minute, this is not cool. 'cause I [00:02:00] realized this is three in the morning and this is the

best I can do. Like this sucks because I thought I nailed it. I did everything I was supposed to

do. Right? Your parents told you.

Go to school, get good grades, you get a good corporate job, you are set. Yeah, set for life. Set

for life. And then I realized, uhoh, my family's gonna grow up without me. And that really, really,

really made me sad. So, you know, those 3:00 AM feedings really were a wake up call for me. I

didn't expect that. I had already known a whole bunch of people at the bank who made a lot of

money in Maldi family at the practice that I was at, at Deloitte in Cleveland.

It had a massive, massive real estate tax practice. I mean, household names. You would know

these people were filthy rich. I mean this insane amount of money. Sure. And I'm like, all these

people are making money and I'm the one working like a dog. I gotta go figure this thing out. I

bought three buildings, little small ones, like 28, 24, 22 units in Cleveland.

Sold them three years later, made half a million bucks and was like. Beside myself, like you can

[00:03:00] imagine.

Paden: Yeah.

Ken: Early thirties, half a million dollars in a bank. Like I, that just seemed ridiculous to me. But

it happened. So I hung around Deloitte for a little bit longer. 'cause you know, I just needed to

make sure.

That's a CPA. Yeah.

Paden: Yeah. Still, still not quite sure yet. That's right.

Ken: Yeah. How often does that happen? But it actually, uh, I quit, I've done real estate since

now. We've done 20 deals. And I'm happy to report we've repeated that half a million, like many,

many, many, many, many, many times over. So yeah, that's how I got here.

Yeah. That's

Paden: cool. I guess you'd credit the family as the motivator to kind of take that quote unquote

risk. Right. Can you speak to a little bit of

Ken: that, of why that motivated you so much? Yeah, I mean, I just didn't want my family to grow

up. Without me, there was a lot of things. So that was number one, right.

That really bothered me. 'cause when you're a young father, I mean, hopefully you're always in

love with your kids, but you're in love with your kids and you don't want to like, oh yeah, hi dad.

Nice to see you again. You don't want that relationship. I wanted to go to their sports. I didn't

know what [00:04:00] sports, I hope they played sports, right?

But as it turns out, my daughter played basketball. We got to travel whole eastern half of the

country. My son pitched. Gotta see all his games. I mean, it was really, really cool. So that was

the issue. But it also worried me that your CPA, I don't know if you've been in a practicing firm,

but you don't know when you walk in the door, is this gonna be your last day?

You make the wrong person angry. You don't even know you made him angry and you're kind of

counseled out now. Deloitte was a wonderful place and so on. They were very easy on people

that they let go. Still, that just sucked, right? I just didn't want that. I didn't want someone else to

be in charge of how much I made.

I didn't want someone else to tell me when I had to work. One of the things that happened to

me, this is a story don't tell very often, and this was a partner. He is no longer at Deloitte, so I

don't want to knock Deloitte here, but it was my anniversary, my wedding anniversary, and I got

a call at like five o'clock and the client said, Hey, I need you to go to dinner tonight with me and

a [00:05:00] client.

I said. Well, it's my anniversary. I don't care. I need you to go to dinner tonight with my client. So

I called my wife, I said, honey, we can't go to dinner tonight. She's like, what? Are you serious? I

said, yeah, I have to go to dinner with this client. What even is more aggravating? 'cause I

literally sat there at that meeting and did nothing except watch the guy get drunk.

And that was it, right? So, you know, it's that kind of stuff, right? That is very rare at Deloitte.

Deloitte's an awesome place to work. I don't wanna knock it, but it's those kind of experiences.

You're like, man, I don't want somebody controlling every last thing that I do. It's just not cool.

Paden: Yeah, I think those are two great motivators in, in my world.

I guess in my journey too, really, I would say doubling down on, going in on the family, making

some movies on the personal front myself, you know, as a young father of three kids under nine

years old. So really trying to take advantage of the next 10, 15 years or whatever we have there.

And then too, yeah, somebody telling me what to do, I can't, I just can't handle that.

That's not my [00:06:00] personality. And to the fact is like me as a boss, I lead a team and

whatnot. I would absolutely never do that to one of my employees. Anything we're doing here

Ken: is not near as important as something

Paden: like that.

Ken: I agree with you. A hundred percent. A hundred percent. Now my kids are grown, right?

They're now grown outta the house and looking back. That was the right call. I mean, to have

missed that part of the life that your kids are heading into. They still like you. They love you, they

think you're cool. Yeah, that'll go away for a little while, but it'll come back. You don't wanna miss

that time.

Right? You just don't. So, yeah. Good for you for making that move.

Paden: So, multifamily stuff, right? Multifamily real estate. But that's a big world. Dabbled in that

world myself a little bit. When you look at multifamily like investing, what's one of the biggest

misconceptions or people miss that? People that are just coming in looking at the space have

wrong?

Ken: Yeah, actually there's a couple. Number one, they think that because they don't have any

money, they can't do it, [00:07:00] and number two, they don't really understand that it's a

business. Yeah, right. Your show's about entrepreneurs. Guess what? People that do what I do,

we're entrepreneurs. I mean, we are running businesses.

That business just happens to be multifamily. That part of it, I wish people would understand

'cause they think of multifamily, they think of a duplex. I mean, that's kind of small. It's really hard

to treat that as a business. That's why I never, I've never done a one to four family investment

deal because I couldn't figure out how to run it like a business.

So as a result, people. Try to get into the space and they don't realize, oh wait, wait, I got

employees. I got insurance. I got maintenance. I got every single problem. You know, any other

employer has. No, I got, I've got those problems. So that's the first thing. And the reason that's

important is you learn how to run the business.

Yeah. Think about this. You shouldn't buy a business that you have no idea how to run. What's

even worse is if you try to do it with someone else's money, that's even worse. So that's the

other thing, right? The thing [00:08:00] about not. Needing money, everybody. Oh, that's a scam.

There's no down payment. No, it's not a scam.

Right? What happens is we've done several hundred million dollars in multifamily deals, and

when I started, I didn't have the money. I didn't have any money. I had to figure out how to get

started. I borrowed my half of the down payment. My in-laws went in on the other half with me,

so I really didn't have any money, and I kind of slowly built that up to the point where I felt

comfortable saying to somebody like you, Hey.

Give me a hundred grand. Yeah. Put it into my deal, and so on and so forth, right? So you can

solve that problem. Most people view that problem as so monumental. It shuts 'em down right

away. They just can't imagine. 'cause they think they have to go to some no down payment.

That's not how it works, right? Most people do real estate and partners.

And it's for a lot of reasons, but the least of which is it's a capital intensive

Paden: business. Yeah. Capital. It just is,

Ken: it takes money. Right. And so what happens is usually there's [00:09:00] somebody that

then, that's how I started early on. I was the guy willing to do all the work. I didn't have a lot of

money. Right?

Yeah. You do a little sweat equity, right. Or whatever you had to do. And the wealthy guy said,

you know what? I don't wanna do the work. Yeah. It's like I got plenty of money, but no time. So

you take your, let's do this. That's right. No, and that's literally, that's how it happens. Yeah. For

most people they just can't, sometimes if you're not entrepreneurial, you're not gonna be able to

put that together in your mind.

But those are the two things really that people don't realize about multifamily.

Paden: Yeah, and it's true. You know, I talk to clients and different people all the time, and

clients are talking about doing multifamily stuff and I counsel 'em. This is big boy stuff. Not

anything to be messing around, but you're right.

And at the same time, I have clients that are looking for multifamily deals and I'm like, Hey man,

you find the right deal. The money's not that hard to find. I promise you. Like you, if you know

what you're doing. Yeah. If you know what you're doing. But if you find a crazy enough deal, like

the capital will, they'll come find you.

Ken: I

Paden: promise

Ken: it will. As long as you know what you're [00:10:00] doing. So what's happened, you know,

four or five years ago? If you had a heartbeat, you could make money in real estate, and people

went into deals they shouldn't have. The deals were a little tight, aren't they? No, they're a little

tighter. But what happened is investors now have realized, oh, wait a minute, baby, you can lose

money in this business.

So now they're vetting people like they should have in the beginning. Yeah, right. But hey, I'm

not gonna give you a hundred grand if you don't really. Convince me that you know how to run

the business. Oh yeah, a hundred percent.

Paden: Yeah. You know, and it's all an operator game at that point. I see a lot of pitch decks and

a lot of people and stuff.

It's really like you're betting on the operator and their track record because you know, the real

estate deal is generally, they're generally all structured more or less the same. There are

caveats and don't get me wrong, but like generally it's the same types of returns and and

whatnot. They're all kind of structured the same, so it's really like, Hey, I'm betting on a certain

horse or operator, is kind of my view

Ken: from agreed.

Agreed. Yeah. You're always betting on the jockey. You just are. So we've now matured to

[00:11:00] the point where we raise what's called a blind pool fund. So we used to syndicate

syndication is when you go find the deal, get it under contract with your own money, right, as an

earnest money, and then you have to work like a dog to raise a whole bunch of money.

Really short amount of time like that sucks. Well, and you often gotta start there, right? It, it's

because the investor wants to see the bricks and mortar. They wanna see your numbers. But

what you know is that you lose a lot of hair. You get a lot of gray hair if you're sitting in my chair

doing it that way, and we've done it that way.

But you just have to suck it up and figure out how to do it. But then as you mature, not

everybody does this, but we just got tired of, you know, we'd be one of 20 syndicators trying to

get a deal. Wow. Yeah. Well, the only way to differentiate yourself is convince a guy you'll close,

but bid it up. You had to pay more.

That's just the way it is. So when we flipped that around, we raise the money first and then go

find the deal. That's what a blind pull fund is. Yeah. Our buying power just exploded. Yeah,

because now we got the money in the bank. [00:12:00] It's harder to raise money from investors

if you don't have a track record.

Paden: Yeah. See, and that's where you've just matured to the point, you have the evidence.

That's just a benefit of staying in the game long enough and getting good enough at the game

that investors just have the

Ken: trust with you. Yeah, you're exactly right. But if you wait that out right now, yeah. I mean,

we're getting deals we shouldn't be able to get.

Why? Because the certainty of close is so high. Right. They know. First of all, they know who we

are 'cause we've been around for so long. But secondly, they know. That we got enough money

to close the deal. Yeah. Like the day we sign it. Right. And that's important to people. Oh yeah,

for sure.

Paden: Those deals fall through all the time.

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you can also book a free tax discovery call with our team to see what it would look like to have

us working for you. You know, uh, Ken, you're really passionate about educating others in the

real estate space.

Give us some big mistakes or common mistakes or what [00:14:00] have you that say people

trying to get into this space are, are making. Or really that is stopping them from getting what

they want.

Ken: Yeah. Well, the biggest mistakes they make, I talked about it a little bit already, but if you're

gonna get into this business and sit in my chair, you gotta do the work.

You gotta really understand the business. It's only fair if you're gonna ask somebody else for

money. Yeah. And so many times there's a lot of people out there that kind of convince people

that you really, you don't need to know all the details. Just scratch the surface. You'll be good.

And those people tend to not do as well.

So I think that is a huge mistake because what happens, one, it gets harder to raise money

'cause people sniff it out that you really don't know the details. Two, if you do get the deal done,

you're not gonna be as successful as you wish you could have been. And uh, third thing is most

people stop themselves.

So they're like, whoa, whoa, whoa. This is, you know, a $5 million deal. Right. Then they're

gonna put a million or 2 million down, right? They're gonna raise that [00:15:00] money and it

scares them. Mm-hmm. Why? Because they know they don't know the details. And most people,

they have a good moral compass and they just don't wanna lose money, and they don't wanna

lose their friends and family money, so they stop themselves.

So that's why I got so passionate about education, because it's massively changed my life.

Yeah. And I want that for other people. And if they dive in, what happens is we start with the

numbers in our program. You've gotta learn how to underwrite multifamily. It's completely

different than anything else.

Once you understand the numbers, you watch people's confidence go through the roof because

they now know, oh no, that broker can't take advantage of me. I know what the thing is worth.

I'm not gonna pay more. And suddenly you see their conviction going way up. Right? Yeah. So

the people that do the work, you could just see it.

Yeah. And then they go attack deals with confidence. And when an investor asks them a

question, they know John Maxwell has a quote that always stick with me. He says, lemme get

this right. People wanna do what you do, [00:16:00] but they don't wanna do what you did. Yeah.

Right. And I always tell people, let's flip that around.

If you do what I did, you'll probably be able to do what I do. Yeah. Hundred percent. It is a

hundred percent about that. That's a, you know, John Maxwell is famous for his little quirky

quotes like that. Mm-hmm. But it is so true because all people see is that successful person,

they don't see all the grinding that they did over the years to get to that point.

Paden: It's even worse now. 'cause now you just get the highlight reels on a lot, right? On

YouTube. That's right.

Ken: That's right. Yeah. TikTok and YouTube, you're not wrong.

Paden: I think it's the Marines they're saying is like, everybody wants to go to heaven, but

nobody wants to die. So to get to heaven, like you gotta, yeah.

You do gotta die. Yeah. Yeah. It's like to get whatever you're after, you gotta die to something.

You gotta give, you gotta do the work, right? Like, and that is. That's true in every area. Like you

can probably bluff your way kind of through one of the multifamily deals, but at some point

you're [00:17:00] gonna have a crisis 'cause you don't know your stuff.

And yeah, like don't you dare like anybody take someone else's money without doing the work.

Like that is such a huge responsibility. I've never done that and like try to fundraise or whatever

because I know that's such a huge responsibility that I'm like, I don't know that I want that until I

have enough evidence and proof that I can.

Right. Take care

Ken: of that properly. Yeah. You lose your own money. You can, you can yell at yourself all you

want. Yeah.

Paden: I, you know, and I just got an answer to me and my wife. That's right. Yeah. Right.

Ken: That's, that's exactly right. That's exactly right. Yeah. I'm much more risky with my own

money than I ever would be with someone else's, but, but if you do do the work, if you do take

the time to learn, I always tell people that the chances of success are so much higher.

This is a multifamily. Like, I don't see it going away anytime soon. Oh, for sure. I just don't, and if

it does, that means we probably don't exist. So money doesn't matter anymore. Yeah. Yeah.

We're in a

Paden: totally different world.

Ken: Yeah, that that's exactly right. So I like it 'cause it's a relatively low risk asset.

Something that [00:18:00] you can do pretty well with if you roll up your sleeves and do the

work. I always ask people, let me ask you, would you go to the doctor knowing that the doctor

never went to med school? You probably wouldn't. Yeah. You probably wouldn't, right? Would

you go to A CPA who doesn't know anything about a county?

You probably wouldn't do that. I know that sounds ridiculous, but I watch people try to do it every

day, and that's literally what drew us into the education side, right? This isn't about the money

for us. It's about, yeah, people making mistakes. It's about people not learning the business,

bringing investors in, and then losing their money.

Because what are those? It actually hurts us, too.

Paden: Yeah, yeah. They're overpaying for assets. They're creating bubbles, and they're not,

you know, I dunno, quote unquote rational actors or whatever you wanna call 'em, but yeah, I

mean, they're well intended, right? Yeah, yeah, yeah. They're

Ken: not no malfeasance, but yeah, it's called, it's called fomo.

You know what that is? Oh,

Paden: yeah.

Ken: Yeah. So that's what happens to people. They're well intended, but they get [00:19:00]

fomo. FOMO is. That was raging in 2021, wasn't it? Oh, everybody got fomo. Yep. And I always

tell people, FOMO has no cure. It is the disease that will kill you if you allow it. If you get it, if you

get it, you're gonna die because it happens every time.

'cause it makes you do things you shouldn't do. Yeah. You keep chasing something. Mm-hmm.

For sure. Yep.

Paden: You're

Ken: right.

Paden: I love it. I love it. So, Kim, what is something you would credit that that's led to your

success? A habit or, or routine or something that you kind of do in your daily life?

Ken: Yeah, you know, it, it's probably, this is funny 'cause if you knew me growing up, like in

high school, you would've been like.

I first wanted to be an engineer. My parents were like, engineer, you're like, you're running a

mile a minute. There's no way you're gonna pay attention to details. Like, don't. That's You

slowed

Paden: down enough to pass that CPA exam though. Well, all

Ken: Here's what's funny. At some point, actually it was in the middle of my college years, I

[00:20:00] decided to stop.

This is weird. This is a weird story, but I stopped studying for tests. Hmm. And I just decide, well,

why don't I just learn this stuff? Like learn it legitimately, learn it from that moment on. I never

crammed for a test ever after that. Got really good grades and I realized. This is about the

details. It's about the details.

And every single thing I do, I just dive into the details. I need to understand the why, right? If you

tell me one and one is two, okay, that's fine. I can memorize that. But why? If I understand why,

that's a pretty basic example. But anything, right? And the reason that matters is now I'm in

talking to an investor or a lender or somebody, right?

Well, let me tell you why we do this. And as soon as you can do that, you now understand,

which gives you ability to now pivot. Like when something like COVID hits or high interest

[00:21:00] rates or inflation, you know, all this stuff that. The world throws at you 'cause you're in

business. You gotta figure out how to deal with them.

And if you understand all these whys, it puts you in such a better position to make better

decisions. At least that's what I think.

Paden: Yeah. And I'm a big believer, you're in the real estate world. You gotta plan for the worst

case scenario and have options. You know what I mean? And conservatively underwrite in my

opinion, because the.

People can go boom with this stuff if they're doing silly stuff and don't know what they're doing.

Yeah. So it's important to know the details, right? It's like you're gonna come in and buy a 40 unit

building, or you're gonna get $10 million or something. Like, um, missing a detail, like some

major roof issue or something can just be devastating.

So you, you

Ken: better know what you're doing. Yeah. And, and you know what the reality of it is? This is

not rocket science. What we do is not rocket science. You just gotta take a minute to learn it.

Right. Like we know rocket scientists, they're investors in our funds. I mean, those guys are

smart. I mean, they just, I mean, you don't have to [00:22:00] be that smart to do what we do.

You just have to. Take the time to learn the business.

Paden: Yeah, yeah, yeah. And it's just pattern recognition. It's understanding what's important,

what's not important, what's, yep. Opportunity, all those different things. And that, like you said,

all this comes from reps and experience and practice. That's right.

Yep. So looking back on your career, Tim, is there a pivotal moment or like a big decision that

you kind of look back at and think, man, that was a key moment that set me on a. You know the

Ken: trajectory where

Paden: I'm at now?

Ken: Yeah. So when I made that decision doing the middle of the night feedings with my

daughter, that was pivotal when I had the guts to buy that first apartment building, that was

pivotal.

I mean, that changed that and that that's what happens. Was your stomach churning a little bit

or, well no, back then, so you need to rewind the clock. 26, 27 years now, or 28 now, before I

even bought anything. There [00:23:00] was no podcast, there was no education programs like

we have. I went to apartment association meetings that were horribly boring.

And then I would try to network with the person lecturing that day. 'cause I figured if they're in

the front of the room, they probably know. Somebody thinks they know something and I could

probably learn from them. And it was really painful. Now. Oh my gosh. Like our program, we

literally walk you through the entire process.

You just do everything we tell you and you're gonna get there. That never, ever, ever existed.

Yeah. So. The reason I tell you that is when I bought that first property, I mean, I thought I did a

lot to try to learn a lot. I even hired an attorney, paid him a ridiculous amount of money, who

said, yes, this is a good deal.

But they didn't change.

Paden: Was your

Ken: insurance? Well, he owned a thousand units. He owned a thousand. Okay, so he had He

had some

Paden: to

Ken: stand on. Yeah. Yeah, he did. He had, there was a reason I paid him a bunch of, I didn't

think he even read the documents. But anyway, thanks.

Paden: Brother's like, oh yeah, no, that's great, man.

Ken: Yeah, right. That's, yeah. But he told me, he said, when you bought that first deal, he said,

I think you're gonna make a hundred grand. I [00:24:00] thought. A hundred grand like you are.

You crazy? That's crazy amount of money. But what happened when I closed that deal is I had

what I felt like you, you ever, you know, the size of a golf ball, I felt like I had a golf ball in my

throat.

That's the level of stress. Yeah. I don't know what the hell made me push through it. I did push

through. And you risked everything, right? You signed on your loan personally. Back then, if I

screwed it up, house is gone. Car's gone almost down. Bankruptcy. There's bankruptcy, right? I

mean, it was just inconceivable.

What would happen. So that first deal was really, really stressful. Luckily for now, it's a lot easier

for people to figure it out 'cause you have people that are willing to help. But back then that just

didn't exist.

Paden: Yeah. And to a degree, you did your homework, you did the work, and to a degree you

had to step out in faith and just roll the dice.

Right. You at least did enough work to get to the points where you're like, okay, I've mitigated

enough risk, but roll the dice. People also get stuck there and stuck in the, just [00:25:00] the,

the constant. Learning and gathering of knowledge, and that is in of itself the satisfaction

people, you know, they just never jump.

And we don't, we don't wanna be stopped there, you know, either.

Ken: Yeah. I will tell you that first deal, I mean, you know, looking back it was so pivotal on

everything in my life because I realized at that point that, wait a minute, if I just did that, uh, I

could probably do a lot of things right. I stopped looking at things as these mountains that were

impassable.

I did not have Mount Everest in front of me. It was just a problem I needed to solve. Yeah. And

so. Now looking forward in my life, I didn't know this at the time, but it kind of taught me, you,

you just gotta figure it out. Just go figure it out. Don't, no, no, no. Stop with the, I can't. Don't

even worry about this.

I can't thing, just go figure it out and push through it. And I can think of numerous times in my life

where I thought, whew, this is a big one. And I figured it out. Right? We lived through oh 8, 0 9,

[00:26:00] I mean, yeah. Yeah. Ja. The whole world falling apart. Right? Disaster everywhere.

Yeah, yeah, yeah. What you don't know is I owned three Cessna pilot centers at that time.

When nine 11 hit, well, that was in oh one, so that That was another lesson, right? Yeah, that

was another one. Yeah. Try owning a flight school with three Cessna pilot centers in three

different locations. And then the fa a tell you, you can't fly for eight. I mean, oh gosh. Yeah. Oh

man. Yeah. And that's Figure it out.

You'll get through it.

Paden: Yeah, you'll get through it. And that's an important lesson is like those things always

happen. You know, whether it's nine 11, it's the recession of oh 8, 0 9 or wars breaking out, you

know, currently, right? Like we always bounce from crisis to crisis. So that's why it's important to,

yes, we need to learn mitigate risk.

We do need, eventually take a risk, but it's also important to like, Hey, let's keep wise here. Let's

keep options on the table to where it doesn't like. Just cost you everything. If a deal goes bad,

right. Where it takes, takes everything [00:27:00] you've ever done out, you don't need to risk all

that, you know, on like a deal.

Right. Exactly. Exactly. So, you know, for some of these aspiring real estate people listening,

what's a piece of advice you'd give them? I know we talk about do the work and mm-hmm.

Anything else, but is there any other kind of practical advice you might

Ken: Yeah. And get 'em started? Yeah. So I mean, everybody. Uh, generally knows you can

make a lot of money in real estate.

I mean, everybody knows, I mean, just so many people own real estate that is appreciating your

value, right? So if you're actually thinking about investing in real estate, all I want you to do is

just take a minute because a lot of people don't do this. And look at your life. Do you wanna be

the person that sit in my chair and make it your day?

Your life's work? Do you want to do that? Or do you want, maybe you're a physician, maybe

you're an attorney and you love what you do and you don't wanna stop that. Well, you don't

need to be showing apartments. We once had a Harvard trained [00:28:00] physician who

wanted to quit being a physician. And do what we do.

I said, I'm not even gonna be a part of this. I was like, I'm not, I'm not even gonna gain that idea.

You're nuts. Right? You're no way. You're not, I'm not even gonna just do you learn, it's like you

can just go print money and then, you know, put it wherever. Right? Right. So what I want

people to do is look at your life realistically, and just there's a way for you to get into the real

estate business.

Invest passively. Our, our investors have done quite well, right? There's not gonna be a

guarantee of you do it, but man, if you can, if you're generating that kind of cash, let somebody

else grow that money for you. And so if you do that, there's no reason why you can't create

enough passive income. This is how rich people get rich.

They go invest in this asset. The asset appreciates, they refinance it, they pull their money out.

Now they own the asset. They got nothing in it. Literally, it's free asset now. All their money back.

Yeah. Still going up in value, still generating cash. And they took that money and they did it

again. [00:29:00] Yep. And they do it again.

And they do it again. And I mean, you create massive amounts of wealth if you do that

successfully.

Paden: Yeah, yeah, yeah. And that's, you know, there's passive income, you know, all those

types of things. And you're right. But like if you're sitting in Ken's chair, like operating like that,

don't. Dare mistake that says passive income.

No, it's not. No, you were, you were, like you said, you're operating a business. I've seen large

multifamily operations. I mean, there's full blown employees there running the place, right? Not

about 45 of them. Yep. Yeah, yeah. So like don't think you're coming in and just like, ah, I just

collect rent checks.

That can't be too, like No, you're, you have very real problems. You do just even in management

of the place, and even if you have a property manager. You're promise you're still gonna be

dealing with a whole lot of problems, Ken. So man, it's been a great conversation. What is the

best way people can get to know more about you, follow you, all that kind of good stuff?

Ken: Yeah, so we're all over on all the social media. Just search [00:30:00] for KRI partners. So

our website is KRI partners.com. It's KRI partners.com. And then when you go to our site, you're

gonna kind of, Hey, do I wanna do what Ken does or do I wanna invest passively? No matter

which way you wanna go, we can help you.

We've got a ton of free educational materials, webinars free. Check it out because the more

educated you can get, even if you're gonna passively invest, you wanna understand what you're

investing in. So yeah, KRI partners.com.

Paden: Yeah, absolutely Ken. I really appreciate your willingness and wanting to give back and

educate people.

That is key and kind of why we do this podcast, so I really appreciate that. Guys, he's probably

got a lot of amazing free resources on there if you just wanna learn about the space, check out

his stuff. Ken, anything else you wanna leave for the listeners for we roll?

Ken: No, this is awesome. This has been a lot of fun.

I just, if you're thinking multifamily. You really need to look at it. Just figure out how it fits in your

life and go after it. 'cause there's so much money to be [00:31:00] made in this space.

Paden: Awesome, Ken. Well, I appreciate you listeners. We'll catch you next time. Thank you so

much for listening to the podcast. If you found it valuable, please rate, review and share it.

That is the best way to help us build this and reach more people as we're trying to accomplish

our goal of help creating more healthy, wealthy, and wise entrepreneurs. You can follow us on

social media by searching for me, Paden Squires. Or going to padensquires.com on the website

and social media.

We're always sharing tips of personal growth and there we can actually interact. I'm looking

forward to it. Thanks guys.