E264 Devin Elder - Reading the Current Macro Environment for Effective Investing Action
The aggregation of marginal gains, which mirrors our guest’s core value––making even the smallest improvements every day. In this episode, Devin Elder, our second-time guest talks about how he is reading everything on the macro environment right now and what are his insights towards more effective investing.
He also shares with us his 10,000-hour rule to becoming an expert and his timeless wisdom about being in the right peer group; and starting small and iterating after failing. If you're interested in learning more about multifamily real estate and an exciting personal growth journey as an investor and business owner, tune in right away!
Key Points from This Episode:
Devin talks about the illusion of time in real estate.
Devin and Tyler talk about getting your life secured while enjoying the present moment.
As an industry veteran and real estate entrepreneur, Devin shares his read on the current macro environment.
The current headwind of the Real Estate Industry: Debt Environment.
The current tailwind of the Real Estate Industry: Rent Growth.
Devin defines and explains why property management is labor force dependent and people extensive.
The next headwind that will create more opportunities.
The 10,000-hour rule to become an expert, applied in multifamily.
How did Mike build adaptability within his growing organization and why is it necessary?
Devin talks about starting small and iterating failure after failure.
How does a peer group that understands his journey helped him succeed?
Devin and Tyler conversed about how being an entrepreneur and investor is a personal development journey.
Technology as a helpful tool but connecting physically as being timeless and considered as an investment.
One of the most important core values: Tiny Improvements Every Day.
Devin’s advice to his younger self and someone like him who’s also dominating the same markets he’s ventured.
Devin shares the keys they have to be more and more successful in a market.
Tweetables:
“I'm 44, 1 year is certain percentage of my life. Whereas when you're 20, one year is a much bigger percentage of your life..” – Devin Elder
“I get this delayed gratification and all these kind of things, but you know, what about securing sort of that win now? Or what about enjoying life now? But, you know, I think you can do both.” – Tyler Chesser
“Instead of saying, I can't afford that. And just shutting down all the powers of your brain, you say, how can I afford that?” – Devin Elder
“You've gotta plug yourself in with a peer group that understands exactly what you're going through. And I would put that honestly as the number one thing that's helped me succeed.” – Devin Elder
“And that's what change is. It's scary. And it's gonna push you outta your comfort zone .” – Devin Elder
Links Mentioned:
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Brought to You By CF Capital
This episode of Elevate is brought to you by CF Capital, a national real estate investment firm. CF Capital’s mission is to provide property investment and asset management solutions to help investors like you maximize their returns by investing in high-value multifamily communities.
If you are looking for risk-adjusted alternative investments in quality apartment communities, and are seeking tax optimized cash flow with appreciation upside without all the hassle of management, you might benefit from learning more about investing alongside our team.
You’re invited to reach out and learn how you can invest with us by visiting cfcapllc.com.
We’re also currently offering a free ebook called The Bottom Line - 10 Ways to Increase Cash Flow in an Apartment Complex. Whether you’re a new or an experienced investor, we’re confident you’ll find massive value in this resource. Get your free copy today at cfcapllc.com.