#85 Alchemist Nation Real Estate Podcast – Dustin Miles The Nicest Guy In Real Estate Syndication

Dustin Miles - Alchemist Nation Real Estate Podcast

In this episode of the Alchemist Nation Real Estate Podcast, I talk with one of the people I consider the nicest guy in real estate syndication. Before I dive into the podcast, I want to know how Dustin knew one of our celebrity coaches for our mentorship Mitch Jaworski. He says that they met at Rod Khleif’s conference in 2018. I tell him that Rod Khleif is a big syndication guy, does a lot of training, and I actually find the networking at those events better than the training themselves. One thing Dustin enjoys about Rod Khleif’s training is the goal-setting at the beginning which he sees through one of those.

To listen to Dustin Miles’ Alchemist Nation Real Estate Podcast on Anchor: #85 Alchemist Nation Real Estate Podcast – Dustin Miles The Nicest Guy In Real Estate Syndication

I ask Dustin how he got into real estate in the first place going back further. He says that when he was a kid, he would ride his bike around town and look at the big buildings and he kept wondering who owns these big buildings. He recalls a time when he played soccer with a kid whose parents owned these big buildings where they actually owned a skyscraper in downtown Fort Worth which is Malik towers. So he played soccer with this kid, getting to know the kid, going to their house, and attend his birthday party, kind of set the foundation that is Why Not Me. The thought process started right from there then after college, he started getting into flips and rentals. He had a few different coaches and mentors for that though he had the vision of going larger. While he was doing single family, he recalls meeting one guy, a super nice guy who was the first person that he met that owned more than a duplex or fourplex, he owned 22 units in Lawton, Oklahoma and Dustin was blown away because at the time in 2008/2009 he hadn’t met anyone that owned such properties. He tracked this guy down and they had lunch, then he went to some other events and met people that owned 50 units, 100 units, 200 units and he ended up having lunch with a guy that owned 10,000 units. After all these series of events, he was like these are normal people and he asked himself why can’t he.

Related to the above, I further ask Dustin what made him think that real estate was the right avenue. He says that he invested passively in his first deal was a multifamily deal that was 76 units where he was a key principle in that deal with a buddy of his. Once he walked through that process with him, the due diligence with him, and all that stuff. He says that he was a super sharp and nice guy and once Dustin saw that he could do it and one thing that he is attracted to with real estate is that it is not all about working smart but he really likes it when you can apply a lot of effort and really see big results. Going through the process of the 76 units deal, he was like he can do this and he is going to this. From that point, he hired a coach and started from there.

I tell him that real estate for him is a source of income, it is not his only source of income but holding on to his job has been kind of a way to make sure that real estate is stable for him. He sold 6 of his 10 properties and the feeling of being down to 4 is frustrating, the cash flow goes away. I tell him a little story that dates back 2 years ago where I had 42 units, all personally owned that I sold down to 14 units and I and my business partner were like this doesn’t feel right. So we literally exploded in the last 12 months and we’re up to 62 units and he and I are at a point of like let’s sell some of this. Maybe we will sell down to 40 or 30 units but the windfall makes it worth it as he stated it even though you’re paying a lot of taxes. That windfall at a time like this, I’m very sure he was happy with what he saved and put aside because it gives you the ability to buy more.

I further ask Dustin where does he see himself in the next five years. He says that they’re going to be really scaling up on the multifamily side, they really have a good team, they put out a lot of webinars in a bid to educate past investors, also try to branch out and give out through charity.

Dustin offers 3 pieces of advice to 20-year-old Dustin that would possibly change his life and give everything he has now a little faster.
1) – Buy real estate
2) – Partner or Hire a coach as quickly as possible.
3) – Self-care and working out, that’s what keeps you on top of your game.

To register for our Saturday live webinar to start your wealth journey, visit: http://www.gualteramarelo.com/Live

To listen to more Alchemist Nation podcasts, visit https://anchor.fm/gualter-amarelo

To get in touch with Dustin, visit https://www.momentummultifamily.com/ or email dustin@momentummultifamily.com

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