MB 236: The Financial Freedom to Do What You Love – With Megan Lamke
36 min

Time is precious. Are you spending your days doing what you love with the people you love? What if multifamily real estate could help you do just that? What if you could achieve financial freedom fast—regardless of your current financial situation?

Megan Lamke is Managing Partner at Megan Lamke Real Estate, a firm that helps driven women turn their grit into true financial growth. She built a network of real estate investors working for Wells Fargo Home Mortgage, and once she and her husband, Darik, had paid off their personal debt ($535K in under 5 years!), they started investing passively in multifamily syndications. Megan quit her corporate job to pursue active investing full-time in April of 2019, and today, the Lamkes have a portfolio of 1,491 units valued at $344M. 

On this episode of Apartment Building Investing, Megan joins me to explain why she took a W-2 job after college (despite wanting to become a real estate entrepreneur) and what she and Darik did to live below their means and pay off their debt so fast. She describes what she did to find a good operator as a passive investor and how she leveraged her sales and marketing background to transition to active investing. Listen in for Megan’s insight on how to raise capital at scale with a platform and learn how YOU can achieve financial freedom and spend time doing what you love!

Key Takeaways

When Megan started thinking about real estate

  • Parents struggled financially, read Rich Dad Poor Dad at age 10
  • Entrepreneurship and business clubs in high school and college

Why Megan took a W-2 job after college

  • Needed to pay off student loan debt before leave Rat Race
  • Learned sales skills, got to work with real estate investors

What Megan and her husband did to live below their means

  • Sold luxury cars, bought cars for cash
  • House hacked 6BR (rented to rugby teammates)
  • Side hustle as sales and marketing consultant

How Megan and her husband got on the same page financially

  • Financial literacy class as part of premarital counseling
  • Set goal to pay off debt, achieve financial freedom

How Megan’s strategy shifted once she was out of debt

  • Sold 6BR house to invest passively in multifamily syndications
  • Goal to replace corporate salary as quickly as possible

Megan’s advice on finding a good multifamily operator

  • Look at track record, online reviews, lawsuits and marketing efforts
  • Ask questions re: where properties located, how managed, etc.

What Megan’s last day of work was like

  • Surreal (like leaving the Matrix)
  • Culmination of goal that started in fifth grade

How Megan’s life is different now that she’s a full-time investor

  • Control own time (decide when to work)
  • Spend more time with daughter, volunteering

What active investing looks like for Megan

  • Use SDA to underwrite 10 deals/day (300 in 2019)
  • Leverage background in sales and marketing to build out platform

What Megan has done to scale her capital raise efforts

  • Done-for-you tech stack to automate lead gen, booking calls
  • 30 to 37 calls with prospective investors every week

What Megan is doing to attract prospective investors to her platform

  • Create content (social media, videos, blog and weekly webinar)
  • Sponsor real estate events, promote lead magnet on podcasts

How Megan describes her ideal investor

  • Successful career woman age 40-55, primary breadwinner
  • Gritty and knows how to get stuff done

How the automation works to turn interested prospects into investors

  • Receive automated email with free download
  • Follow up with drip marketing campaign to encourage call

How much capital Megan has raised through her online platform

  • $18M raise to close on $49M apartment building
  • In process of closing on $18M 503(c)

How raising capital looks different now that Megan has a platform

  • Don’t have to call each investor, track follow-up manually
  • One centralized management tool that automatically follows up
Connect with Megan Lamke

Megan Lamke Real Estate

Megan’s No-Nonsense Women’s Guide to Investing

Megan on Facebook

Megan on Instagram

Megan on LinkedIn


Register for Michael’s Platform Builder Incubator

Join the Nighthawk Equity Investor Club

Rich Dad Poor Dad by Robert T. Kiyosaki

Business Professionals of America


Dave Ramsey

Robert Kiyosaki

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even without Experience or Cash by Michael Blank

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod

Michael’s Syndicated Deal Analyzer


Investor Deal Room

Podcast Show Notes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

The Remote Real Estate Investor
The Remote Real Estate Investor
Timeless Time Management Tips for Busy Professionals Getting Into Real Estate
Investing in real estate remotely can be intimidating when you are juggling a full time job, family and the host of responsibilities life throws at you. In this episode we give you 4 tips to make sure you get everything done and stay on track. --- Transcript Michael: Hey everybody, and welcome to another episode of The Remote Real Estate Investor. My name is Michael Albaum and today I'm joined by my co hosts, Tom: Tom Schneider, Emil: and Emil shore Pierre: and Pierre Carrillo Michael: And today we're going to be talking about time management, something that's really important for most people, but especially important for those of us that are investing at a distance remotely, we're gonna be talking about some really practical things you can implement into your daily routine as an investor to help you manage some time. So let's get into it. Alright, guys, so we all know that time… Emil: Hold on, hold on, hold on, we got a special guest on this episode, I feel like he deserves a very, very warm welcome and introduction to our listeners. Michael: Pierre? Pierre: Hey, what's up? Michael: Can you give our listeners a little bit of background on who you are you pepper in some really great commentary in some of the episodes. But now you're going to be a full fledged host on this episode. Who are you? Pierre: Yeah, I've been lurking in the corners since the beginning here, typing in when something's relevant. But yeah, I'm the producer on the show. And just starting out in the real estate game with my brother currently. So I don't speak much because I don't have much experience in this space. But I'm just learning from you guys. And excited to get in on this stuff. Michael: Right on, we're stoked to have you. Tom: Fantastic, and a great episode to jump in on time management being juggling, like 10 different jobs with the podcast and Academy and getting your real estate investing stuff going like, yeah, excited to have your input on this episode. Pierre: Well, thanks. I need some of it too, because I have a weekly meeting with my brother. And we're always like, how do we use our time to really move this project forward? Because it's easy to just get stuck? Oh, let's analyze properties. Let's dive into this. But I think this is really going to be helpful. I'm going to definitely link my brother to this episode afterwards. Tom: That's like the theme of the hosts is what is it self serving. Pierre: Self serving? Tom: Selfish like, bring on guests we want to learn from… Pierre: Get your free consultation. Tom: Exactly. Michael: Love it. Awesome. So as we all know, life is very time consuming. And especially for those of us that have a nine to five or that are working day jobs, and then piling on kids and family responsibilities, and then adding on this layer of real estate investing. And for those who who are just learning that can feel like it's really time consuming. So we're going to walk through some strategies today that a lot of us have used personally, and so we can add some commentary into how it's been going. what's worked well, what hasn't worked well. But so we're gonna break this down in a couple different chunks. So, Emil, do you want to kick us off with the first strategy that folks can use to help manage some of their time? Emil: Yeah, I'd love to. So I've actually tried a lot of the other things that we've outlined in our doc here that we're going to go over. But the thing that has really stood the test of time for me has been planning out my days in advance. And the biggest actual, like action item from that is putting things in my calendar. So I find that whatever I need to get done that day, if it makes its way onto my calendar, I have a much, much higher likelihood of getting it done, than if it's just kind of floating around on a to do list or floating around in my brain. So it's like some psychological thing where I've put on the calendar, I have this accountability to myself, it's sitting right in front of me that notification comes up. So for me that's like, what I found to be one of the most helpful things and actually blocking things, setting aside a specific time to get them done. And getting them done. I think you can do there's a lot of stuff, I don't think it's just work, I think it can be, you know, in the context of real estate investing, if it's 30 minutes in your morning, right at 7:30am. Before you start work, whatever it is, to review properties or to read a real estate book, or a course you're in or whatever it is, whatever that action item for you is to keep progressing in your real estate investing, just blocking out that small chunk of time every day, I think is one of the best things I've found in terms of time management. Michael: So Emil, I've got a question for you because it's something that I know you and I have talked about in the past and I've been trying to get better at how far in advance do you set the time block? Or do you schedule your day? Is it a day before? Is it day of the week out? Emil: I used to be really good about like day before and I've slipped a little bit i think you know, as this is a bad excuse, but as more responsibility piles on I think it's like easier for those. It's just a habit I don't have anymore so I usually wake up I have my to do list. I'm like, What are the things I need to get done today? And then I'm usually just blocking them off throughout the day. But there's certain things and we're going to talk about it later than I've actually just become habits right like the first 30 minutes This is what I'm doing in the day. I don't even need a time block it. It's like those things that are happening every day become a habit versus a time block for me. Tom: Oh, do you set like recurring schedule? Or do you know when you're setting those time blocks any advice in the way that you're setting up? Emil: Yeah, so it's usually okay let's say I'm tackling things from my day, right? I need to whatever have some marketing campaign I need to get out the door that day. It's usually just like I'm blocking off Whatever chunk of time and I actually, I don't like to give myself gonna realistically take an hour, I'll just block off, usually try to block off 30 minutes, I've noticed that the longer the timeframe that that thing is blocked, you kind of just expand the time that it takes to get it done. So I like to keep things in like in small blocks, as well as one thing I found useful. Michael: Is that a humble brag for that you're really efficient. Emil No, a lot of times it goes over, but at least I'm like, it has a name. But like, whatever time you give yourself, you expand that fast. Yeah, whatever to just fill that time. There's plenty of times where I go past it. It's just I think more helpful to try to, I don't know, put less time than you think it'll take. And then if you need more, it's all good. Michael: Yeah, that makes total sense. All right, we move on. We want to tackle anything else. Emil: Yeah, that was it for me in terms of my biggest time management tool. Michael: Awesome. So moving on here, Pierre, you had this really killer name for what you're going to be talking to us about? You wanna jump in here? Pierre: Sure, yeah, I'm not going to be super innovative here. But it's just something that I find that works really well for me, and kind of every level of planning, say, like life goals or specific projects, but it's reverse chronology. It's where you identify what your end goal is going to look like, and then make a schedule working backwards from there. I feel like a lot of our strategies would overlap quite a bit. So I would use a meal strategy as well, to implement this reverse chronology. Say I have a project due by the end of the year, I know all the tasks that need to be done to make that project happen. So I'm going to plug in those time slots on my calendar to make sure that I have the time allocated properly…
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A crystal ball prediction for the housing market does not exist. The best measure may be the forward-looking Homebuilder Confidence Index. It just hit an all-time high for optimism. Interest rate direction has little to do with housing prices. But it helps. Real estate is not an asset. Real estate derivatives are assets, whether it be a mortgage or a lease. Gregg Cohen of JWB Real Estate Capital joins us. He’s a longtime provider of new construction turnkey rental property in Jacksonville, FL. See their properties at: CashFlowAndGrowth.com We discuss how appreciation makes long-term real estate investors more money than cash flow, amortization, tax benefits or inflation-profiting. Resources mentioned: Jacksonville new turnkey property: CashFlowAndGrowth.com Suburban Rents Rise: https://www.realtor.com/news/real-estate-news/race-for-space-pushing-up-suburban-rents/ Show Notes: www.GetRichEducation.com/321 CNBC on home price rise: https://www.cnbc.com/video/2020/11/13/rise-in-home-prices -will-be-tremendous-for-builders-analyst.html Mortgage Loans: RidgeLendingGroup.com EQRPs: text “EQRP” in ALL CAPS to 72000 or: eQRP.co By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. New Construction Turnkey Property: CashFlowAndGrowth.com Best Financial Education: GetRichEducation.com Top Properties & Providers: GREturnkey.com Follow us on Instagram: @getricheducation Keith’s personal Instagram: @keithweinhold
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