Maximizing the Benefits of a 1031 Exchange with Ken Gee | Know Your Why #359

In this episode of the Know Your Why Podcast, Dr. Jason Balara sits down with Ken Gee, founder of KRI Partners, to explore his journey into real estate and the strategies that have fueled his success. Ken shares how he began by investing in small multifamily properties in Cleveland, focusing on properties that could be operated like a business. His introduction to value-add investing came when he upgraded a property and significantly increased rents, demonstrating the power of this approach. Key Highlights: - Start Small, Think Big: Begin with small multifamily properties that can be operated like a business, focusing on efficiency and growth. - Value-Add Investing: Value-add strategies are essential for increasing cash flow and property value by making strategic improvements. - Debt Management: Manage debt carefully, avoid over-leveraging, and maintain discipline through various market cycles. - Self-Management vs. Third-Party Management: Self-managing properties can lead to better control and results, but it requires hands-on involvement. Third-party management comes with its own set of challenges. - Vertical Integration: Having a vertically integrated operation allows for direct communication with on-site staff, providing a clearer view of property performance and better problem-solving. - Neighborhood Insights: A deep understanding of the neighborhoods where properties are located is crucial for making informed decisions and ensuring long-term success. - Ken's Why: Ken’s 'why' has evolved from prioritizing family to a broader goal of helping others succeed in real estate, offering both passive and active investment opportunities through KRI Partners. This episode provides a wealth of knowledge for anyone interested in real estate investing, especially those looking to learn more about value-add strategies, debt management, and the benefits of vertical integration. Ken Gee's extensive experience and his dedication to helping others make this a must-listen for both aspiring and seasoned real estate investors. Tune in to learn actionable insights and discover how to get involved in real estate through both passive and active opportunities. Get in touch with Ken: LinkedIn:  https://www.linkedin.com/in/geekennetha/ Facebook: https://www.facebook.com/people/Ken-Gee-KRI/100086519510719/ YouTube: https://www.youtube.com/@KenGee_KRI Instagram: https://www.instagram.com/kengee_KRI/ Twitter: https://twitter.com/i/flow/login?redirect_after_login=%2Fkengee_kri TikTok: https://www.tiktok.com/@ken_gee_kri?lang=en If you want to know more about Dr. Jason Balara and the Know your Why Podcast: ⁠⁠https://linktr.ee/jasonbalara⁠⁠   Audio Track: Back To The Wood by Audionautix is licensed under a Creative Commons Attribution 4.0 license.⁠⁠ https://creativecommons.org/licenses/⁠⁠ Artist:⁠⁠ http://audionautix.com/