Real estate is arguably one of the more popular industries today and there are already more than 2 million real estate agents in the United States alone.
If you are interested in the real estate business, then you may have heard of the Multifamily Mindset. This is a real estate company that focuses on multifamily properties and claims it can help you reach your full potential as a real estate investor in multifamily real estate properties.
It is common knowledge that real estate investors require a solid education to help them succeed. Whether Multifamily Mindset provides the required education, remains to be seen.
In this review, we are going to take a closer look into Multifamily Mindset and determine whether it is the right real estate course for you.
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The Multifamily Mindset Review
What is Multifamily Mindset?
Multifamily Mindset is a real estate investing program that provides educational material to anyone who wishes to get into the real estate industry or become a real estate investor.
Real estate investing is quite popular and we’ve seen this showcased by guys like Tai Lopez with his Real Estate Flipping Program, Kris Krohn, and Robert Kiyosaki with his book “The Lazy Way To Invest In Real Estate.”
Grant Cardone is known for his investment packages that allow you to invest in properties along with other people thus minimizing the risk.
Aside from providing the tools and knowledge needed for one to succeed in real estate, Multifamily mindset also teaches individuals various ways on how they can earn from multifamily real estate. They focus on the big three investing types; estate flipping, long-term holding and wholesaling.
The program specifically deals with multifamily real estate investments. A multifamily real estate is any multi-dwelling structure or set of buildings with five or more dwelling units on a single tax lot, such as apartments, condos or mobile home parks. It also includes certified or licensed residential care facilities such as adult foster care homes or group homes.
Multifamily Mindset is a relatively new education company for both new and experienced real estate investors that ensures its clients keep a positive growth mindset and live a wealthy, fulfilling life from investing in real estate.
Who founded Multifamily Mindset
Tyler Deveraux is the founder and CEO of Multifamily Mindset. Tyler holds the position of the managing partner of MF Capital Partners, a privately held, multifamily investment company.
Tyler purchased his first student rental property at the age of 21 and soon afterward saw the industry’s potential thus he chose to become more involved.
From then on Tyler has been quite active in the real estate industry, having experience in investing that spans for more than 14 years. He now owns approximately 1,500 apartment properties in five separate states that have a combined net worth of more than $100 million.
Mr. Deveraux currently lives in Maui with his wife Brittany & their two kids Paxton & Marley. He is a keynote speaker, best selling author and is skilled in real estate investing, multifamily properties, raising capital, growth mindset principles and sales & negotiations.
How does Multifamily Mindset work?
The Multifamily Mindset company claims to help potential and experienced real estate investors go beyond the limits of single-family investments and close lucrative multifamily deals.
The company’s core values are positivity as being positive leads to having a positive outlook on life and opens doors, love because it brings out the patience and care required towards their clients and service as serving others or those who you care about brings about wealth and happiness.
Once you sign up to be part of the multifamily mindset program, there are a few stages that you will undergo:
The introductory seminar
Once you join the multifamily mindset, you’re going to have to attend a live seminar first (not a webinar). The schedule and location of the seminars, also known as a Multifamily mindset event can be viewed on their website and vary from time to time.
They serve to introduce various clients to the real estate industry, as well as showing you how investing in multifamily properties can give you larger investment returns than single-family properties.
These seminars have a coach or Tyler himself explaining to the audience the advantages of investing in multifamily properties.
Various people have reported that in the seminars, you can feel the speakers’ enthusiasm in explaining their business model and that they learn investing in these properties is the key to getting that dream of financial freedom.
The alleged seminars last three days. Once they are over, comes the sales pitch where they tell you about the product.
Sponsorship and coaching program
The Multifamily Mindset program includes both a scholarship and coaching program. In this part of the program, you are provided with some educational material that is made to further educate you on how to start and manage your real estate business.
In this section you are taught about the four roles you will play while dealing with multifamily real estate deals:
- Deal Specialist
- Money Partner
- Property Manager
This is the real estate investor who is going to invest in the multifamily property, which in this case, is you.
The sponsor is whoever is going to apply the loan that you need on your behalf. You may choose to do this yourself but most money partners require experienced investors such as Tyler. This is where multifamily mindset comes in.
This is the entity that you can approach to secure the loan you needed, such as a bank. The program may also lend a hand here as it has access to Tyler’s network of money investment partners; therefore, you will have access to your much needed loan.
This is the designated person who will manage your property on your behalf. This includes maintenance of the house and dealing with the residents who may rent the space.
You will have to pay the property manager a fee for management.
How to make money with Multifamily Mindset
A typical multifamily apartment costs around ten million dollars and has a hundred and fifty units. The Multifamily mindset program claims that you can own at least twenty five percent of this without spending a single cent.
Seventy five percent of the apartment is owned by the money partners as they are the ones who lend you the money, the sponsor who helped you close the deal owns five percent and you, the real estate investor, owns the remaining twenty five percent.
As the deal specialist, there are three ways that you get paid. First of all, cash flow will be your portion of the monthly rent. That alone averages to around twenty-five thousand dollars per month, in total.
Twenty five percent of that would be six thousand two hundred and fifty dollars per month, or about seventy-five thousand dollars per year, which is basically your portion. You will earn this every year until you sell the apartment.
Once you sell, you will still get twenty five percent of the selling price, which should be a decent amount. This is the second way to earn money with multifamily real estate investments.
Third and last of all, in such an apartment deal, you are paid upfront as the deal specialist. This is known as the acquisition fee and is usually three to five percent of the buying price.
The Multifamily mindset team promises to help you through the process, making use of any connections they have to close the deal.
How much does Multifamily Mindset cost?
The Multifamily Mindset events/seminars are free to attend in person. Here you will learn a couple of real estate investment tips from Tyler and his team.
At the seminars, there will be a sales pitch where they pitch mentorship and other exclusive services for those interested, at a fee. The cost comes to about thirty-five and forty thousand dollars.
How to join Multifamily Mindset
To become a part of the Multifamily Mindset real estate investment program, all you have to do is go to their website and click ‘Invest with us’ on their toolbar.
Once that is done. you will be asked to fill in your name, email address and phone number. They will proceed to ask you a few questions about your history with real estate, the amount you will be willing to invest and when you will be ready to invest.
From there you will be required to schedule a call with one of the members of their team to discuss your investment plans further so that they may know how best to serve you.
MultiFamily Mindset Reviews
Multifamily Mindset investment program has received a lot of negative reviews mainly due to its hefty cost when it comes to the mentorship program.
Here is what some people have to say:
Not necessary but can significantly help. All or most of the information to learn MF investing is out there for free. Building up your network and reputation takes a long time. Think of it as free vs pay to play video games. You can get there but paying to play may get you there faster. Mentorships are great for some and terrible for others. We bring on new people that want to learn sometimes. They help us with underwriting or calling brokers, and we help them by educating and paying. There are groups that are doing exactly what we are doing. Hope that helps. Also, if you are looking at a mentorship, don’t just look at one. They are all very different environments.
I paid 40k for the Mentorship program and other monies for the conferences. Since I was new to the game, the Mentorship was a stepping stone to access to people with millions of dollars and I was able and still am able to meet with them and present my deals to them weekly. However, that is a hefty bill when you are not a millionaire and it takes time to build that money back. I agree with the previous guys comments and say go to free webinars and Make connections as best as you can ( at coffee shops, grocery stores, restaurants and sports cloud bars, meetups, etc). The bottom line is making the connections and finding a mentor that will take you from A-Z without a bunch of hoops to jump through. Those seasoned 5+ years and doing what you want to do can be a stepping stone until you can go bigger and hire an expensive mentor. I found that no one person has all the answers and can meet you needs. It may be good to have a couple of mentors or people to bounce info/ recommendations off of. As for the conferences, I was able to meet a few millionaires doing what I want/need to do and they were relatable. I had to step out of my comfort zone and walk up to them to get their attention but it helped me. Anyways, they are usually in the cocktail area outside the conference room. I was able to speak with them when everyone else was inside listening to the speakers. So I believe some conferences are worth it. Just don’t let it break you bank! I hope all worked out for you. God bless you.
The 1st Red Sign that alerts you that there is an ethical problem is the fact that when they provide you with videos of all the people who have positive things to say about the program, the initial photo that is seen, where you click on to listen, shows full bodies for everyone EXCEPT the African American students. Oddly, ALL of the facial images of the African American students are conveniently NOT included. Only body shots of the African American students can be seen until you actually click on the video. This is NO coincidence! Especially since half of the videos are African Americans.
In addition, I have spoken to individuals who have signed up with their organization that have been pushed out of deals and have lost thousands of dollars. Based on what I have been told, this definitely sounds like a SCAM!
I’ve never understood the paid mentorships.
There’s a wealth of knowledge in this forum and an endless number of experienced sponsors willing to answer questions. If I was trying to break into the industry, I would approach a few small- to mid-level sponsors and ask if you could provide help to their organization in exchange for a mentorship.
Frequently Asked Questions
How is Multifamily real estate better than Single family real estate?
When you compare the two, the rental income for multifamily investment properties is often higher than the rental income for single-family investment properties. This is because multi-family homes have more housing units compared to one for a single-family home
This means that a multifamily property would have more tenants thus there is more rental income. You may even end up earning more as a result of the extra units while minimizing risk by spreading revenue sources over several units.
You could also still have tenants pay for some of the costs even if it’s not fully occupied. Unfortunately, for single-family property, you will suffer negative cash flow when it’s empty. The only upper hand with single family properties is the cost of the down payment as a typical apartment costs more for multifamily properties.
Is real estate for everyone?
Real estate is not the easiest business model out there as it requires a lot of hard work and resilience. Most of all, you would require a lot of up front capital for investment to get started.
This may not be ideal for everyone and just investing in a property does not assure you of receiving tenants. It is a high risk business and is definitely not for those who are risk averse.
Pros of Multifamily Mindset
- The founder, Tyler Deveraux is a well known real estate investor with more than 14 years of experience.
- They provide high quality training for their clients and you gain many tips on multifamily real estate from just their seminars.
- Their seminars are free to attend.
Cons of Multifamily Mindset
- The mentorship program is too costly. It would be better to start investing with that amount instead of paying $40k for the program.
- The program’s loan scholarship may lead to debts or clients paying the full amount for the property instead of the promised twenty five percent.
- Has received too many negative reviews
The MultiFamily Mindset real estate investment program is a legitimate real estate course that gives real estate investors the education around multifamily property deals and helps them invest in such properties.
One thing you will love about them is that their free seminars are quite informative and some people have attended those and not taken the next step, instead using that information to set out on their own.
Although the founder is quite experienced in multifamily properties, the price for the mentorship program is relatively high so you should be aware of that before you sign up. There are other alternatives to this course that are cheaper if you cannot afford their fees.
Before you leave
It’s helped me earn over $300,000 in the last 12 months alone:
(This is a 100% free training)
David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.