Episode #98: Bigger Properties for Better Management with Lee Yoder

Transitioning from small units to bigger ones can seem like a daunting venture, but my guest on today’s show, Lee Yoder, is here to tell you why it’s actually the best decision for you and your business! Lee, who is the founder and CEO of THREEFOLD Real Estate Investing, began his real estate journey with a single duplex, and has methodically worked his way up to his biggest investment to date; a 96 unit in Southwest Ohio. During our discussion today, Lee shares why he has found it easier to manage the 96 unit property than the other 45 and 47 unit properties he currently owns, why networking is a key to success in the real estate industry, and the superpower that makes him stand out! Key Points From This Episode:The type of real estate that Lee Yoder’s company, THREEFOLD, invests in.Challenges that Lee faced when he was managing smaller units than he is now.Why having a person fully dedicated to one property is so beneficial.Lee explains why he is likely to still go after 40 to 100 unit properties, even though that isn’t the space he ideally wants to be in.Factors which encouraged Lee to transition to investing in bigger properties. Advice that Lee would give his younger self if he could.Lee’s superpower in the asset management space!Tweetables:“As soon as we got the 96 [unit], we were like, “Wow, this is what everybody’s talking about with economies of scale.” Maintenance requests get answered quicker because the guy’s there so tenants are happier. Units get filled quicker because somebody’s there that can show it at any time.” — Lee Yoder [05:38]“Management wise, operations wise, I never want to own anything less than a hundred units again.” — Lee Yoder [06:26]“The bigger you get, the more vacancies are okay because three out of a 100, you are 97% occupied, that’s great.” — Lee Yoder [11:40]Links Mentioned in Today’s Episode:THREEFOLD Real Estate InvestingLee Yoder on LinkedInLee Yoder on FacebookAsset Management Mastery Facebook GroupBreak of Day Capital Break of Day Capital InstagramBreak of Day Capital YoutubeGary Lipsky on LinkedInGarzella Group