Residential vs Multifamily Real Estate Investing with Phil Klima | Legacy Wealth Show

Phil and his father turned a start-up car business into a successful empire. Starting out of their own homes, they now own several locations in the Cleveland, OH area. Eventually, Phil started to fix/flip houses until he noticed some investors who were holding houses for their rental portfolio. After focusing on residential real estate for a few years, it wasn't until he went to a few commercial investing masterminds that he decided to enter the multi family real estate space. Up until this point, he had been self managing his residential rental portfolio...from collecting rents to scheduling contractors, to talking to tenants. Having known Tim for almost a decade and watching as he progressed to the apartment investing expert he is today, he eventually realized he was doing it the wrong way. Now, Phil has stepped away from the everyday operations of his businesses and started collecting passive income as he focuses on building legacy wealth for his family. Listen as Tim Bratz, the host of the Legacy Wealth Show, interviews Phil Klima on: - What it's like owning a car business and how he's used real estate to supplement his income. - How properly leveraging debt can be smarter than owning free and clear properties. - How to get past the mental barriers that many people deal with when scaling their investing business. - Why multifamily investing is better than residential. To learn more about Phill Klima (or buy a car in the Cleveland area) visit www.kdkauto.com