Join Vee Khuu (Real Estate Lab Podcast) and Kyle Marcotte as they talk about building a $5.5 million portfolio at the age of 21. Kyle figured out his way of doing things in real estate at a young age, and he shares some of the lessons he’s learned as he grew in the space. He gets into how he got into real estate as a 19-year-old, the objections faced when raising capital, and his limiting beliefs. You don’t want to miss this!
The Struggles of a Young Real Estate Investor
Kyle Marcotte was eager to get into real estate after discovering that the corporate life was not for him. Through a multitude of podcasts and books, he started to pick up on the basics and soon planned to hop on local meetups. At 19 years old, even if he didn’t look the part, he had to at least know what he was talking about if he wanted to get around. He slowly worked his way up into a meeting, knowing the meetup sponsor, scheduling guests, until he found a spot for himself on the speaker lineup!
Because of his youth, there were some objections that he had to deal with when he was raising capital. Have you done this before? Why would I trust you? I should just wait five years, then try you out when you have the experience under your belt. This didn’t stop him. Kyle knew how to answer these questions. He faced them with his authenticity and accepted that he doesn’t have the experience yet, but promised to work harder than anyone else as they take a huge leap of faith in him, like he made when he left behind a promising medical career. His confidence allowed him to get the trust of the people who didn’t want to miss the boat.
No Need for A Cool Backstory
Everyone has limiting beliefs, especially for people that try to do anything outside their comfort zone. For Kyle, he thought that he wasn’t the kind of person that deserved this level of success. When he looked at people like Gary Vee and Tony Robbins, he believed that they were “born that way,” as if they were exceptional people. But Kyle grew out of that belief. “No one is special. It’s all earned.” Just like these other people, you just need to put the work over time and have discipline. You can build on any foundation, even if you’re not born into a certain family, have a cool backstory, or have grand adversities to overcome. As he continued to develop his foundation, Kyle has created a mentorship program where he now helps others get over their limiting beliefs.
You don’t have to be born to a certain family, with a cool backstory, or some awesome adversity that you can spin in a great story… – Kyle Marcotte. Catch him on this episode from the Real Estate Lab Podcast! https://realestatelab.live/
About Kyle Marcotte:
Kyle Marcotte is a 21-year-old multifamily syndicator. While still a student-athlete at UC Davis, Kyle was able to syndicate two multifamily apartment buildings. These two deals totaled 119 units and are valued at over 5.5 million dollars.
Outline of the Episode:
- [03:30] Kyle’s favorite striker in soccer.
- [04:11] How he decided that real estate was the best route for him as a sophomore at UC Davis.
- [06:39] His process of educating himself first through books and podcasts before going to local meetups.
- [08:40] Understanding the whole picture first before learning in detail. Everything in real estate is interrelated!
- [09:46] The details of his first meetup and meeting Neil Bow as he was on his way to stardom in the real estate space.
- [11:08] Being able to raise capital through finding partners and private equity at 20 years of age.
- [12:53] Common objections that people say to a 20-year-old real estate investor and the hardest opposition. Never underestimate the power of authenticity and confidence!
- [18:05] Limiting beliefs and his inspiration for defeating these thoughts.
- [21:20] Having people that helped in key life moments and the effects of third party validation.
- [22:25] Kyle’s mentorship program. Helping young people find what they really want in life through financial education.
- [24:43] The costs and the things to expect from the program. How many clients does he manage?
- [28:07] Internal and external metrics to look for on deals.
- [30:24] Defining conservative underwriting at this time of uncertainty.
- [33:06] The lesson he learned from sports that transferred to real estate: focusing on helping. Life is not about you; it’s service rather than significance!
- [35:05] Biggest challenge: staying inside all day as an extremely active person.
- [35:57] Kyle’s superpower of connecting emotionally.
- Kyle Marcotte https://kylemarcotte.com/
- LinkedIn: https://www.linkedin.com/in/kyle-marcotte/
- Facebook https://www.facebook.com/kyle.marcotte.52
- Instagram https://www.instagram.com/kylemarcotte9/
- Email: firstname.lastname@example.org
- Crushing it in Apartments https://www.amazon.com/Crushing-Apartments-Commercial-Real-Estate-ebook/dp/B01N6DKA10
- Shopify https://www.shopify.com/
- Rich Dad Poor Dad https://richdadeducation.com/Country/
- Gary Vee https://twitter.com/garyvee
- Tony Robbins https://twitter.com/tonyrobbins
Connect with Vee Khuu!