We always hear that death and taxes are the only things that are certain in this world. Rashmi Nigam would like to add another: trial and error. She learned this the hard way when they were looking for the right property manager to replace the previous manager who suddenly died days before they closed the deal.What she also learned in this experience is the need to separate business matters from personal relationships. You can’t allow the property manager to get close with the tenants. Let’s get into the episode to learn why.[00:01 - 04:29] Opening Segment I welcome today’s guest, Rashmi NigamFind Rashmi at the links belowLet’s get to know Rashmi[04:30 - 09:32] Mistakes Are Okay If Not RepeatedRashmi walks us through her start in multifamily Here’s Rashmi’s general philosophy in life you should hearMake mistakesMinimize risksDon’t repeat the same mistakesRepeat the first 3 steps [09:33 - 16:20] The Property Manager Died on UsRashmi’s response when their property manager suddenly diedListen to Rashmi’s approach in finding a new property managerHow much should you let the property manager do their thing?Rashmi weigns inThere should a boundary between the property manager and tenantsRashmi explains [16:21 - 21:55] Numbers are Meaningless With No Proper UnderstandingWho should be assigned to manage the property on-site?Not the property manager Don’t just pay attention to the net operating incomeListen to Rashmi’s words of wisdom for todayFollow your gutKnow what works for youSuccess comes in many ways [21:56 - 24:11] Closing SegmentParting words from RashmiPursue your dreams Final words from meTweetable Quotes:“It’s okay to make mistakes. Learn to minimize your risks so you don’t lose it all, but don’t repeat it again because then you’re the fool.” -  Rashmi Nigam“Just pursue your dreams. Go at it. Be brave” -  Rashmi NigamEmail [email protected] or visit LinkedIn to connect with Rashmi. Check out their company online to learn more about their work. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the showAre you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.

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