Preview Mode Links will not work in preview mode

Small Axe Podcast

Aug 29, 2022

Welcome back! Small Axe Community! Today we have a powerhouse couple Michael and Lindsey Duguet! 

Michael and Lindsey became interested in Real Estate Investing in 2018. They started their educational journey by reading REI books, listening to podcasts, and being active on Bigger Pockets. They joined Real Estate Elevated for intensive training and founded Duguet Estates in March 2019. Their first off-market single-family homes were purchased in May 2019, followed by a duplex in June 2019. They started direct mail campaigns and bought 4-plex and 3 single-family homes throughout the rest of 2019. They bought a 10-plex using off-market advertising in December 2020. All acquisitions were completely remodeled (most full gut jobs) and now are stabilized and all cash-flowing. They have enjoyed huge equity gains through forced appreciation. 


They have successfully BRRRR’d with 100%+ cash out refinances on half of their portfolio which they have rolled over into new deals. Michael & Lindsey joined the MIH Mastermind in 2022 and subsequently formed Clover Key Capital in May 2022. Their first syndication deal closed in June 2022 in Indianapolis, IN. They and their partners have funded $5.5 million together, and own thousands of units. They are actively looking for C+ to B+ class value-add, 1960+ build apartment complexes. Specializes and improves multifamily properties and their focus on acquiring income-producing properties.


Michael was born and raised in France and moved to the United States in 2011. He is a mechanical engineer and came to Philadelphia on a work contract. Lindsey was in medical school at the time and they both met while living in Philly. Lindsey is now an emergency medicine physician, getting her doctorate at Philadelphia College of Osteopathic Medicine and training in Emergency Medicine in Danville, PA. Together they have two children.




[00:00 - 08:29] Opening Segment

  • Lindsey and Michael are founders of Clover Key Capital and Duguet Estates LLC
  • They started their educational journey by reading REI books, listening to podcasts, and being active in bigger pockets.
  • They joined real estate elevated for intensive training and founded Duguet estates in March, of 2019.
  • Their first off-market single-family homes were purchased in May of 2019, followed by a duplex in June of the same year,
  • they started direct mail campaigns and bought a 4-plex and three single-family homes throughout the rest of 2019.
  • Michael is a mechanical engineer 
  • Lindsey is an ER physician and still doing a full-time W2 job.


[08:30 - 17:09] Reducing Hours and Spending More time with family.

  • The challenges faced when starting as an entrepreneur physician include dealing with contractors and tenants.
  • The first two deals were bought off-market and dealt with evictions and squatters.
  • The strategy for buying properties has changed since then and is no longer in distressed areas.
  • Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at to get the code you can use to avail your discount!



[17:09 - 27:37] Growing Portfolios

  • Now, Michael and Lindsey are renting out their two units for 1,000 to 1100 per month, doubling their income.
  • The units were completely redone in the back, and the parking lot was also redone.
  • They expect to get between 300 and 465 tax-free cash out from refinancing on this project.
  • They bought this property in December 2020.



[27:19 - 31:40] Closing Segment





LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!



To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website and book a call with me.



Tweetable Quotes:


“It was a big mindset shift for me. As a physician, I try to do everything well, everything perfect. We are taught that these are people's lives, so you can't fail. Failure is not an option. You can't mess up with that. So for me, to start partnering with other people and giving up some of this control. It is certainly a little bit tough, but we realized that having a little piece of the pie is better than no piece of the pie. So as we start to form these partnerships, we're moving forward with bigger deals now that we couldn't take down on our own and that we are with other people who have knowledge that has done these much bigger multifamily deals that they can bring some capital with us” - Lindsey Duguet



“We started the first two years and we were on the path to success after a year or two, we hit the first roadblock. And it was a lack of capital. we were just stuck. We could not buy more units. And I was doing the rehabs, managing all the leases. So we reach that ceiling eventually We looked into a mastermind and learned that you don't need to control everything, but just find the resource of people that can help you.” - Michael Duguet