Kyle Mitchell is a real estate entrepreneur who has a focus on Multifamily Syndication and currently has $33Million Assets Under Management. He is the Managing Partner and Cofounder of APT Capital Group and the Asset Management Summit, where their mission is to positively impact the lives of their investors and the communities in which they invest through the highest level of transparency and fiduciary responsibility.
Kyle is also the co-host of the weekly real estate podcasts, Passive Income through Multifamily Real Estate & Asset Management Mastery, where he speaks with various experts in the real estate industry to help educate and create clarity for passive investors and new operators. With a background in operations, management and logistics, he has overseen multi-million dollar businesses and has a passion in doing the same in the multifamily syndication space.
- Kyle was in the golf business for 15 years and loved that job but eventually got burnt out and one day looked at his bank account, and 401k and realized it wasn’t where he wanted it to be and he could not see himself wanting to be in that position for another 30 or 40 years. He always had an entrepreneurial spirit and in 2016, started looking around and found multifamily, which ties into what he was already doing- managing budgets, building systems, managing people holding them accountable.
- He quickly understood the business aspect of multifamily. It really is purchasing multimillion-dollar businesses. And so as soon as he found it, he fell in love with it- took a mentorship coaching course, and within 11 months, left my full-time job to pursue multifamily investing full time. His company primarily focuses on multifamily investing in the Arizona markets -Tucson and Phoenix, Arizona
- His advice for someone wanting to start in multifamily is just to educate yourself on all things multifamily because several things can be done in multifamily.
- He also advises -“you’ve got to decide where your strengths are and what you like to do. And at that point, you can start to find a team and build a team around you, building the team to fill in for your either weaknesses or things that you don’t want to do”
- There are 2 ways in which capital can be raised 506 b and 506c: 506b is probably the more common one because that is more of friends and family type of regulation, and 506c is for accredited investors. The way an active investor chooses to raise capital should be based on his network and can be either.
- Time management was the hardest thing that he had to learn when he first left his W2 because in a W2 job you have a defined deadline, and as an entrepreneur, you do what you want to do and every decision that you make, will have an effect on your bottom line
- His number one book recommendation for multifamily investing is the Best apartment syndication book, by Joe Fairless.
- The quotes he lives by are: You’re three feet from gold. That’s another book that I love three feet from gold, which is basically don’t stop digging when you’re just three feet from gold. A lot of people give up right there when they’re at the end. So don’t stop there. As an entrepreneur, or just in life in general, you’re always faced with challenges, and just know, if you keep going and keep plugging away, you really are only two millimeters away.
- Financial freedom to him is just really living life on his own terms.