Be Wary of the Midas Syndrome - Matthew Drouin

Multifamily Missteps Hosted by Christy Keeton

Aiming for a huge target is not at all bad, but the harsh reality should also be considered. In this episode, we feature Matthew Drouin and his story of doing a deal that entails facing problematic neighborhoods and people down on their luck. He talks about his experience of regret looking upon himself as a hero and brings the invaluable lessons he learned from it.

[00:00 - 08:51] When the Harsh Truth Slaps, We Go Back to What Matters

• Back into real estate by accident as a residential agent
• The struggles of being poor in an affluent neighborhood
• Witnessing his parents die young without time to enjoy life

[08:52 - 18:19] From Hero Complex to Midas Syndrome: The Horror Story

• When there is a level of sketchiness in the neighborhood
• Facing the mental stress of pulling off a risky deal
• Realizing the significance of sticking to your principles

[18:20 - 19:16] Closing Segment

• Unexpected things can happen
• Final words

Tweetable Quote:

“ The biggest mistake I made on this whole thing was right in the beginning, I got the hero complex and also the Midas syndrome on this. And I was not doing it based upon logical reasoning in terms of sticking to my guns and all the principles that had made me successful.” - Matthew Drouin

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Are 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.