Ask Mark Anything — Partner Not Doing Their Job, Deals Not Penciling, KP Risk & Losing Your Earnest Money

Ask Mark Anything — Partner Not Doing Their Job, Deals Not Penciling, KP Risk & Losing Your Earnest Money

Author: Mark & Tamiel Kenney December 2, 2022 Duration: 17:24

What happens when your partner stops pulling their weight? Are you doing something wrong if deals keep not penciling? What do you actually risk as a KP? And if you can't close, can you lose your entire earnest money deposit?

In this Ask Mark Anything episode, Mark Kenney gives direct, experience-based answers to four of the highest-stakes questions in multifamily investing.

In this episode you will learn:

• Why almost every partnership has one person doing more work than the other — and what your documents must allow upfront to take action

• Why removing a partner who is also a KP requires lender approval — and what that means for your options

• Why analyzing 128 deals and submitting 4 offers is probably the real problem — not the market

• What being a KP actually requires: net worth, liquidity, experience, and the difference between recourse and non-recourse risk

• What a lender can demand when you miss your debt coverage ratio — and why lender relationships change what actually happens

• Why earnest money is almost always lost if you can't close — and the mistake of sending it directly to a seller's personal account

Join us at our next event at https://thinkmultifamily.com/event

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Mark and Tamiel Kenney built something remarkable, turning a single duplex into a portfolio of over sixty-five hundred units in just three years. On the Think Multifamily Podcast, they pull back the curtain on exactly how they did it, moving beyond theory to share the tangible, week-by-week steps that define real success in apartment investing. This isn't about sacrificing your time or freedom; it's a practical conversation about building a legacy that actually works for your life. Each episode feels like a direct conversation with the Kenneys, filled with the specific insights and hard-won lessons from their own journey. You'll hear them break down complex deals, discuss market shifts, and explore the mindset required to navigate the challenges and opportunities in multifamily real estate. Tune in for a straightforward, content-rich dialogue that cuts through the noise, offering a clear path for anyone serious about creating lasting wealth through property. This podcast provides the kind of actionable guidance that only comes from hosts who have walked the path themselves.
Author: Language: English Episodes: 100

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