POPULARITY
2 episodes with B class
2 episodes with B class
3 episodes with B class
2 episodes with B class
2 episodes with B class
2 episodes with B class
2 episodes with B class
3 episodes with B class
2 episodes with B class
Even though B Class apartment prices have come down 20%-30%, sales volume for these properties is still at a ten-year low. Prices are still not low enough in most cases, however, to make sense in today's interest rate environment. In Class C apartments, this is even more the case. Prices still have a ways to go further contract before they make sense. Andrew Cushman, Founder and Principal of Vantage Point Acquisitions, owns B to A- class garden style properties in secondary and tertiary markets in Georgia and Florida panhandle. Despite headwinds that have plagued many other operators, Andrew's portfolio continues to excel and perform according to proforma.
Tom Petreca is a seasoned computer scientist with extensive experience working in large tech companies. In 2019, he ventured into the world of commercial real estate, initially investing passively in over 340 units. Eager to expand his knowledge and impact, Tom joined two major multifamily training and mentorship programs.Today, Tom is a general partner in a significant B-Class asset in San Antonio, encompassing 296 units. In this role, he is actively involved in acquisitions, asset management, and serving as a loan guarantor.Tom's passion lies in his family and his commitment to helping others achieve their goals.
Chris Kohnen, CIO of the Ackerman Group, focuses on B-class assets in Midwest secondary markets. Emphasizing supply-demand ratios, affordability, and cap rates, he stresses industry sophistication and understanding competition. Chris Kohnen | Real Estate Background Chief Investment Officer at Ackermann Group Based in: Cincinnati Portfolio: 24 Multifamily Apartment Communities, totaling 4,529 units Say hi to him at: www.ackermanngroup.com LinkedIn Best Ever Book: Atomic Habits by James Clear Sponsors: Apartments.com Ascent Equity Group
Over the past several years, as prices in multifamily have escalated, the greatest value has been in acquiring older, C Class assets with the highest returns. As interest rates have pushed prices down more recently, however, and the market normalizes, great opportunities are also emerging in newer vintage Class B assets that don't require as much work. Vadim Kleyner, CEO and Chairman of Smartland in Cleveland, is continuing to pursue lucrative Class C properties, but is also poised to take advantage of the course correction in B Class prices as well. Vadim has focused mostly on Northeast Ohio, but recently expanded to Miami, and is exploring other markets as well.
NAF Five Star Winter Dressage ChampionshipWednesday 10 April 2024 - Sunday 14 April 2024
Welcome back to another episode of the Richer Geek podcast, we have Charles Carrillo. He's the founder, and managing partner of Harborside Partners, he has been actively involved in over $200 million worth of real estate transactions since 2006. That is a lot of stuff, and under 20 years, he carries extensive knowledge and renovating, and repositioning multifamily, and commercial real estate. And he also invests in ATM's early-stage tech. And we'll get into some of that. In this episode, we're discussing… • [1:36] Charles Carillo's Background Started investing in real estate in 2006, initially with a three-family house, followed by various residential and commercial properties. Actively involved in renovating and repositioning properties, particularly in multifamily and some commercial real estate • [4:37] House Hacking Charles explains house hacking, a strategy where you live in one unit of multifamily property and rent out the others. Recommends utilizing FHA loans for 3-4 unit properties with a low down payment. Emphasizes the financial benefits of living almost rent-free while building equity • [7:15] Lessons from Self-Managing Charles discusses the challenges of self-managing lower-class properties. Stresses the importance of buying better properties in better areas for long-term success. Highlights the significance of treating tenants fairly and building good relationships for successful property management • [11:09] Pros and Cons of Self-Management Charles talks about transitioning from self-management to third-party management. Advocates for finding a balance, utilizing third-party management for operational efficiency while still being hands-on with key decisions. Emphasizes the value of building relationships with reliable contractors, especially handymen. • [17:27] Scaling and Transition to B-Class Properties Charles shares the pivotal moment of transitioning to B-Class properties from C-Class for better resilience, control, and predictability. Underlines the significance of having a solid management system and the ability to scale when working with investors. • [18:08] Importance of Personal Project Experience Advises against jumping into syndications without personal project experience. Encourages investors to gain hands-on experience, learn from mistakes, and prove their ability to manage properties effectively before seeking investor funds. • [20:46] Minimum Viable Product (MVP) Charles recommends having a minimum viable product and showcasing a successful self-funded project before pursuing syndications. Stresses the value of demonstrating competence to potential investors through personal experience. • [23:27] Where to Find Charles Carillo Charles provides information on how to connect with him. Website: Harborside Partners • [24:56] Podcast and Coaching Charles hosts a podcast with strategy and interview episodes available on the website. Offers coaching services, providing one-on-one guidance. Resources from Charles Harborside Partners | YouTube | Facebook | Charles Carillo LinkedIn | Charles Carillo Facebook | Instagram Resources from Mike and Nichole Gateway Private Equity Group | Nic's guide
Over the last five years, overly exuberant investors vastly overpaid for multifamily properties. Instead of basing their pricing on in-place property performance, they based their pricing on overly aggressive proformas. In many cases, these proformas didn't materialize because of increased renovation costs and declining rents. Because of these factors plus increased borrowing costs, we're starting to see distress in the marketplace. Bill Hamm, Co-founder of Broadwell Property Group, was smart enough to sell off his portfolio a couple years ago when the market was incredibly frothy. Bill is now looking to jump back into the market to acquire B Class core properties in great locations in major metro markets with 5 – 7 year holds.
Kyle hops on the podcast today to dive into all the details about his newest purchase - the cheapest EV he could find! He discusses his new Mercedes B-Class that he recently picked up in California, the major issues, what we know about its problems so far, and what he expects next. Find us on all of these places:YouTube: https://www.youtube.com/outofspecpodcastApple Podcasts: https://podcasts.apple.com/us/podcast/out-of-spec-podcast/id1576636119Spotify: https://open.spotify.com/show/0tKIQfKL9oaHc1DLOTWvbdAmazon: https://music.amazon.com/podcasts/473692b9-05b9-41f9-9b38-9f86fbdabee7/OUT-OF-SPEC-PODCASTFor further inquiries please email podcast@outofspecstudios.com#mercedes #ev #cheap Hosted on Acast. See acast.com/privacy for more information.
Welcome to the Small Axe Podcast, where Nico is joined by Charles Carillo from Harborside Partners, diving into the power of small actions in constructing a long-lasting empire through real estate investments. Charles traces his path from a real estate family background to a diverse portfolio, with a particular focus on commercial real estate. He underscores the significance of efficient property management, especially in larger ventures, and the pivotal role of syndication in their growth. This podcast is your roadmap to sharpening your investment skills, enabling success in real estate, regardless of your initial capital or network of connections. Here is a breakdown of what to expect in this episode: Navigating Real Estate Challenges: Lessons from 2008 Building Resilience in Real Estate: The Importance of Dry Powder Mastering Property Management Transitions: A Real Estate Journey Dallas Real Estate Investment: The Power of Market Expertise Foreign Capital in Real Estate: Insights and Strategies And so much more About Charles Carillo: Charles Carillo is a commercial real estate investor and the managing partner of Harborside Partners. With extensive experience in the real estate industry, he has actively participated in over $200 million worth of real estate transactions since 2006. His expertise primarily lies in renovating and repositioning multifamily and commercial real estate properties. Charles is also known for his work in assisting entrepreneurs and busy professionals in passive real estate investing, providing valuable insights and guidance for those looking to invest in real estate opportunities. Connect with Charles Carillo on… Website: https://harborsidepartners.com LinkedIn: https://www.linkedin.com/in/charleskcarillo/ Connect with Nico Salgado! Website: www.smallaxecommunities.com Facebook: https://www.facebook.com/nicosalgado456, Podcast: https://podcasts.apple.com/us/podcast/small-axe-podcast/id1528971543 LinkedIn: https://www.linkedin.com/in/nicosalgado456/ Spotify: https://open.spotify.com/show/6edqbvXc6JCXuSg2lbSJeD YouTube: https://www.youtube.com/@nicosalgado1753 Amazon: https://www.amazon.com/-/es/dp/B08K4T9YTH
On episode 81 of Inside ChampCar Jim Begley from Begley MNotorsports joins us to talk about his super cool Datsun 510/Bluebird. From endurance racing at Indy, all the way to the B-Class win at Gingerman. This car has quite a history and even comes as Greenlight 1/64 scale toy car. Inside ChampCar is the weekly deep dive into the TireRack.com ChampCar Endurance Series. Hosted by veteran sports broadcaster and producer Brian Bielanski and ChampCar's director of marketing, Bill Strong. Each week we will discuss the races and the happenings and talk with team owners, drivers, and crew. Episodes are released every Thursday morning on the Racing Wire Podcast Network on your favorite podcast platform. ChampCar Endurance Series is for people like you that have always wanted to go road racing without all the hassles, huge rulebook, or obscene expense. All you need is a valid driver's license, some safety gear, and a race car, which you can rent from arrive and drive teams or build your own car! Greenlight 1/64 scale --- Support this podcast: https://podcasters.spotify.com/pod/show/racingwire/support
Check out Matt @ https://www.instagram.com/b_class_trash/ Check out the podcast "Manny Talks Shooting". Wherever you listen to podcasts. Apple Podcasts: https://podcasts.apple.com/us/podcast/manny-talks-shooting/id1552710518 Anchor: https://podcasters.spotify.com/pod/show/mannytalksshooting Manny Talks Shooting Merch: Follow us on: https://linktr.ee/mannytalksshooting Instagram: https://www.instagram.com/mannytalksshooting/ Email: mannytalksshooting@gmail.com Music courtesy of Ben Sound at https://www.bensound.com
It was a wild night of Racing on the High Banks and Kenny "Skinny" Roth joins us to recap it all!-Full NSS recap, including what it was like for Kenny as he made his Bomber B debut!-What is up with Nascar Racing Racing at Martinsville? we recap the full weekend, including the rain tires on the trucks, xfinity and cup races.-We go around the state.-New Florida and Nascar Power Rankings-And our weekly fantasy updates and advice for Talladega!
Coming to you specially from a live seminar, in which he answered the burning questions of an audience, Shaz talks about alphabet class shares - how to distribute them, and what they mean. KEY TAKEAWAYS Whatever the ratio of ordinary share capital you own, your dividend has to be in line with this - IE: 51% shares of £100,000 means you receive £51,000. Alphabet shares mean that you can distribute share dividends in a different way. Percentages of A Class shares and B Class shares can be divided up between shareholders. BEST MOMENTS 'You can have different classes of shares for different people' 'You have to have ordinary share capital' VALUABLE RESOURCES shaz@aaa-accountants.co.uk ABOUT THE HOST Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors. Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable. He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets. You can find Shaz on: Facebook LinkedIn Instagram YouTube. This show was brought to you by Progressive Media
On this episode: 2 new release horror reviews, The greatest final girl ever, and Have public domain laws gone too far? PLUS! Lee-Lo is back!! Audiences die from dysentary at the theater, and Temple of Doom went too far… In news: Temple of Doom, PG-13 ratings, Aragorn, The King of Men, Coolio, Mark Morrison, Middle Class R&B Class, Sacramento weather, Briauna, Javier, Milk, Jason from Binge Movies, Scream, Mac & Me, A Ghost Story, Matt Stillman, Cinemaddicts, Bruce Purkey, Eric Holmes. Andrew Martin, Joseph Bridges, Greg Srisavasdi, Jason Kleeberg, Force Five Podcast, Jack Fitzpatrick, Barry Jenkins, Medicine for Melancholy, Sex and the City, The Visitor, Paramount, Blumhouse Television, Epix, Amazon, The Lie, Dark Anthology series, Hulu, Treehouse of Horrors, Dorian Gray, Finn Jones, Game of Thrones Jessica Macname, Game of Thrones, Dana Rhodes, Where the Crawdads Sing, The Others, Haunting of Bly Manor, The Turning, Finn Wolfhard, Terrifier 2, Art the Clown, Daniel Leone, All Hallows' Eve, Tim Curry's It, Slash Film's final girls, I Still Know What You Did Last Summer, Friday the 13th VII, You're Next, Nightmare on Elm Street 4: Dream Master, Halloween 4: The Return of Michael Myers, Judy Greer, Happy Death Day, Murder Party, Jennifer Love Hewitt, Sarah Connor, Terminator, Hellraiser, Pandora's Box, Gale Weathers, Fear Street, The Witch, Ellen Ripley, Alien, Sidney Prescott, Neve Campbell, Halloween Ends, Laurie Strode, The Grinch horror movie, The Mean One, Mike Meyers, The Cat in the Hat, Crazytown, Butterfly, Lindsay Lohan, Netflix, Hallmark Movies, The Princess Switch, Mean Girls, The Parent Trap, Jingle Bell Rock, Pang, Light As A Feather, A Christmas Castle, Cary Elwes, Lazytown, Bruce Willis, Deep Cake, Moonlighting, Temple of Doom, George Lucas, Ke Huy Kwan, Steven Spielberg, E.T., Shia LeBeouf, River Phoenix, Lyle Lyle Crocodile, Shawn Mendes, Javier Bardem, Amelia Bedelia, Golly Gump Swallowed a Fly, Josh Gordon, Will Speck, Blades of Glory, Will Ferrell, James Hong, Oregon Trail, Renthttp://www.MCFCpodcast.com-Email us at MCFCpodcast@gmail.com -Leave us a voicemail (209) 730-6010-Get some merch:https://middle-class-film-class.creator-spring.com/-Sponsor - N/AJoseph Navarro Pete Abeytaand Tyler Noe Streaming Picks:League of Super Pets - HBO MaxLaw Abiding Citizen - Hulu, Prime, Tubi, Roku, Plex, Pluto, BET+Ernest Scared Stupid - Roku, HooplaSpree - HuluFright Night (2011) - HuluDo Revenge - NetflixLet The Right One In - Prime, Hulu, Roku, Hoopla, Vadu, Criterion, Kanopy, Crackle, DirecTVLet Me In - Hulu, Tubi
There's been so much growth in Multi Family investing over the past few years it can make you wonder if it's too late in the cycle to get into good deals. Yes, a lot of people are overpaying for properties, especially newer, inexperienced syndicators. There's also risk that rents contract in an upcoming recession coupled with higher borrowing costs when floating rates adjust upwards. The fact remains, however, that 50% of the country are renters, and there's still a big undersupply of B Class workforce housing, especially in the suburbs. There's just not enough of this inventory and you can't build it. Mitch Siegler, Co-founder and Senior Managing Director at Pathfinder Partners, finds deals underneath the radar of larger institutions with an average of 100 units in growing markets with value-add opportunities. This is how he's mitigating risk and continuing to provide great returns for investors in this increasingly competitive market.
Michael Becker is a Co-Founder & Principal at SPI Advisory, LLC and heads SPI's Dallas, Texas office where he oversees all aspects of the business. Over the last 10 years, Michael and SPI Advisory have acquired over $2 billion in Multifamily Real Estate and currently have about 6000+ units under management.Join Our Passive Investor NetworkDownload Our Passive Investor Guide to Multifamily SyndicationsCONNECT WITH OUR GUEST:oldcapitalpodcast.comspiadvisory.comSHOW HIGHLIGHTS:What his business looks like today. Team structure, geographic focus, buying criteria, etc.What Michael is seeing in the market today and how he is navigating the challenging debt environment.His evolution from C and B Class value-add to A-class deals.Why he has not vertically integrated his business with property management?How he structures his deals on the equity side of things.The biggest challenge he is facing today and how he's dealing with it.CONNECT WITH US! Visit our Website: https://www.canovocapital.com/podcastConnect with us on Facebook: https://www.facebook.com/theleadsponsorFollow us on YouTube: https://www.youtube.com/c/TheLeadSponsorFollow us on Instagram: https://www.instagram.com/theleadsponsor/Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-lead-sponsor-podcast-real-estate-investing/id1464256464LOVE THE SHOW? PLEASE SUBSCRIBE, RATE, REVIEW & SHARE!
Investor and Patent Attorney who assists investors in obtaining above-market returns through targeted acquisitions of apartment buildings projected to earn double digit annualized returns over a 5 yr hold; 10 years' experience in the acquisition, rehab, and operation of 2100+ single and multi-family rental units in Texas, Arkansas, and Memphis TN; $200M+ in real estate assets under control and/or ownership. 15+ years' legal/management experience in major law firms. Time Stamps: 2:00 - Growing up in Arkansas 3:15 - Jade's 10 year adventure to get multiple Law Degrees 8:00 - Jade's journey into Real Estate 11:20 - Overcoming negative tenant experiences 13:45 - Investing in larger properties 14:20 - Why Jade wanted to scale faster 18:00 - Jade on being a Landlord 20:00 - Jade's first multi-family property 21:40 - How money can work FOR you 22:25 - Jade walks you through a B Class investment deal 25:30 - Using teams to decide where to invest 26:20 - Investing in real estate vs 401(k) 30:20 - Control as an investor 33:25 - How Jade decides what to invest in 34:15 - Rent control 37:45 - Planning for the unexpected 40:30 - Investing for community improvement 43:00 - Jade's hope for his daughters
Investor and Patent Attorney who assists investors in obtaining above-market returns through targeted acquisitions of apartment buildings projected to earn double digit annualized returns over a 5 yr hold; 10 years' experience in the acquisition, rehab, and operation of 2100+ single and multi-family rental units in Texas, Arkansas, and Memphis TN; $200M+ in real estate assets under control and/or ownership. 15+ years' legal/management experience in major law firms. Time Stamps: 2:00 - Growing up in Arkansas 3:15 - Jade's 10 year adventure to get multiple Law Degrees 8:00 - Jade's journey into Real Estate 11:20 - Overcoming negative tenant experiences 13:45 - Investing in larger properties 14:20 - Why Jade wanted to scale faster 18:00 - Jade on being a Landlord 20:00 - Jade's first multi-family property 21:40 - How money can work FOR you 22:25 - Jade walks you through a B Class investment deal 25:30 - Using teams to decide where to invest 26:20 - Investing in real estate vs 401(k) 30:20 - Control as an investor 33:25 - How Jade decides what to invest in 34:15 - Rent control 37:45 - Planning for the unexpected 40:30 - Investing for community improvement 43:00 - Jade's hope for his daughters
ATTENDEES Nate Barksdale, Keith Rollins, Daniel Olney AGENDA New Business Talk about The Colors I've Never Seen and how it will influence the next project. Nominate the 2022 R&B Class of The Future! Intro and Outro music by Ohbliv off the album Black Keys Wit Melodies
Are you looking for something to invest in where you do away with all the long-term commitment to tenants and the utilities involved in running and managing a business? Well, you've come to the right place. Jay Bowman lives in Kentucky, married with two kids. He is a former SFR rental purchaser, and rehabber turned self-storage investor. In this episode, Jay shares how you can replace a day job's income with a few self-storage facilities. And depending on the lifestyle you want to achieve; you can always add up more. Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/ What you'll learn in just 14 minutes from today's episode: Find an investment strategy that lets you operate with speed and ease. Discover how this portfolio is a good source of steady cash flow without expensive maintenance. Hear about how you can have a lien on an individual's stuff and have it auctioned in a matter of days, completely rent it out to someone else when there is payment default Resources/Links: Website: https://www.gobeyondstorage.com/ Topics Covered: 00:41 - How A, B, and C storage facilities differ from each other 02:07 - When and what made him venture into storage facilities 02:57 - Number of square footage they have with the four facilities they own 04:27 - The process of getting to one's storage facility unit and when do these facilities needed 06:19 - Benefits of switching to self-storage facilities 09:22 - What more is there to love about self-storage facilities 11:39 - The number of facilities to own to replace your day job income 13:11 - Where to find Jay Key Takeaways: "In a single family, you have evictions. If you're in major cities, we don't have eviction laws in self-storage; we have lien laws. So, the moment somebody does not pay, you can go by that state's lien law." - Jay Bowman "We like to keep it simple. I think that we're going to see many people in the future start moving towards investments where simplicity rules. There's just a lot of cash, a lot of ease; it's a very in and out type of business. While residential is not that way." - Jay Bowman "What used to be digging through a very small pile of coal to find a diamond, nowadays, through a very large pile of coal is the value that has really just gone up." - Jay Bowman Connect with Jay Bowman: Website: https://www.gobeyondstorage.com/ Facebook: https://www.facebook.com/jaybowmanREI Twitter: https://twitter.com/jaybowman Connect with Dave Dubeau: Podcast: http://www.propertyprofitspodcast.com/ Website: https://davedubeau.com/home Investor Attraction Workshop: http://www.investorattractionworkshop.com/ Facebook: https://www.facebook.com/thedavedubeau LinkedIn: http://linkedin.com/in/davedubeau
FOLLOW UP: EU ADVISOR APPROVES PURSUING DEFEAT DEVICE DAMAGES CLAIMSAn EU court advisor has stated that owners of vehicles fitted with defeat devices should be allowed to pursue damages. This is not a final ruling but very rarely do the judges not follow such advice. This case is against Mercedes-Benz. If this is ruled upon, it will be up to individual countries to calculate damages that align with loss and damages caused by such devices. For more, click the Automotive News story here. NEW CAR REGISTRATION FIGURES MAY 2022The weakest May, in three decades outside of 2020's lockdown situation, meant that there was a 20.6% drop in registrations. Supply chain issues, including Covid lockdowns and the war in Ukraine are all contributing factors. You can learn more by clicking the SMMT link here. MERCEDES TO RECALL 1M CARS Mercedes-Benz is recalling nearly one million cars that could have faulty brakes. Owners of some R-Class, ML and GL models, built between 2004 and 2015, are being advised not to drive their cars until they have been inspected. To read more, click here for the Autocar article link. HMRC NOT KEEPING PACE WITH ENERGY PRICE RISESHMRC has now brought in their new mileage rates, which company car drivers can claim, however they do not match the rise in energy prices. They, in fact, do not rise at all, unlike petrol and diesel rates. This has caused much frustration from those who may well be out of pocket as prices continue to rise. More can be read on this, just click here for the Autocar article. FUEL PRICE SURGE IN MAYPetrol and diesel prices surged in May, rising on average 10p per litre. The war in Ukraine is being blamed for the 17% increase in wholesale costs. For more, click this Autocar article link. CARZAM CLOSES DIGITAL DOORSCarzam, one of the new breed of online only car purchasing sites has gone into voluntary receivership. Unlike Cazoo and Cinch, this entity was created by people from within the car retail industry and therefore thought of as one of the better prospects. For more on this story, click the Car Dealership Magazine link here. MERCEDES DITCHES MOST B-CLASS VARIANTSPrior to the facelift of the B-Class, later this year, Mercedes-Benz has cut all but two model options from the range. Only the 200 and 200d, a petrol and diesel respectively, versions will still be available to buy. Trim levels are also, well, trimmed down to now only give four options. More can be found out about this by clicking here for the Autocar link. FORD CUTTING FOCUS PRODUCTIONIn a move that likely indicates the demise of the Focus mode according to somel, the Saarlouis plant in Germany will reduce production of the model at the end of August. Ford has been vocal about prioritising more profitable models, therefore this does imply that the Puma is more favoured by management. To read more, click here for the Autocar article. ——————————————————————————-We are at the MOVE 2022 Conference at ExCel, London. Alan will be moderating a panel titled "All these EV targets, where's the charging infrastructure?" with Katie Black, head of the UK's Office for Zero-Emission Vehicles; Daniel Tibble, Director of Data Science and Analytics of the connected vehicle data company, Wejo; and Hui Zhang, the Vice President for Europe of EV company, NIO. More details on the conference can be found by clicking this link here. We have some complimentary tickets, which you can apply for, if you wish to attend the conference yourself. To do so, click this link here and fill out the details required. ——————————————————————————-If you like what we do, on this show, and think it is worth a £1.00, please consider supporting us via Patreon. Here is the link to that CLICK HERE TO SUPPORT THE PODCAST——————————————————————————-WRC: RALLY ITALYSardinia once again proved to be very tough, with an unlikely winner in the form of Tanak, who has shown no hint of his talent nor an appearance of being a leader this season, until now. He drove with purpose and intelligence to bring home a win for himself and Hyundai. Second was Criag Breen in the M-Sport Puma and Sordo rounding out the podium for Hyundai with another impressive drive. Championship leader Rovanperä was fifth, whilst Evans had a rally to forget, or is that a season to forget? For a review of the event, click the DirtFish article here. For the DirtFish What We Learned article, click this link. For the Colin Clark Driver Ratings article, click here for the link. DESIGNERS MOOD BOARD: MELVILLE LEAVES MCLARENRob Melville, McLaren's design director, has announced he will step down from his role. He is credited with giving McLaren their distinctive style. There is no indication of who will replace him yet. For more, click here for the EVO article. NEW NEW CAR NEWS:Hyundai i30N Drive-N - A very limited run, of just 75 examples coming to our shores, plus improved interior and design cues along with a £1535 premium on the “normal” i30N marks this out. Mechanically it stays the same. For more info, click this EVO link here. Mercedes-AMG One - The much anticipated mega Mercedes-AMG hypercar has now been revealed. Power comes from a combination of the F1 engine, a V6, being mated to four electric motors, to produce 1049bhp. Only 275 examples are being built, with them all snapped up already at £2.2 million. To read more about this car, click the Autocar link here. LUNCHTIME READ: MERCEDES-AMG ONE OR NOTHINGMichael Banovsky gives us his take on the Mercedes-AMG, well that and Mercedes the company. As ever, very enjoyable read, click here for the Speedster News article. LIST OF THE WEEK: 10 CARS THAT MASTERED AERODYNAMICSHagerty has a list, thanks to Antony Ingram, of some of the most aero efficient vehicles sold, through history. Run through the list, and see if you would pick the same as Andrew. Don't forget to tell the podcast Twitter account your choice! Click here for the list's link. AND FINALLY: US CAR SO BAD A DICTATOR SAID NOSaddam Hussein was so disappointed by the quality of specially-built 1981 Chevrolet Malibus, that he cancelled the second part of the deal with GM, meaning 12,500 cars did not end up in Iraq. How bad was US car quality at that time? Shockingly so, it would appear. Click here for The Drive article explaining how this all happened.
Abandoning its strategy to offer German luxury to the masses at a lower price point, Mercedes-Benz is going exclusively where the profits are - in the upper reaches of the luxury vehicle market. To the automaker, electric vehicles mean high luxury and high profits. Niche brands like AMG performance and uber luxury Mercedes-Maybach will receive renewed attention in the years to come - while its A-Class, B-Class and CLA models will most likely be phased out.
www.sevenbridgesrealtygroup.com
Our guest this weekend is Arleen Garza from San Antonio. On today's show we're talking about the evolution from C-Class to B-Class to A-Class and most recently development. Love hearing about this journey to connect with Arleen, visit ReepEquity.com -------------------- Host: Victor Menasce email: podcast@victorjm.com
Equity Yield Group is a real estate investment firm specializing in institutional grade, A/B class multifamily assets in great markets, sourced, qualified, and managed by an experienced team. We have a strong and consistent track record of delivering results to our investors. We have high standards, focus on quality, and invest right alongside our investors. If you like what you hear be sure to like, share, subscribe! Podcast- Mindful Multi-Family show Instagram- Chris_Salerno_ Youtube Channel- Chris Salerno Facebook- The Mindful Multifamily Network Website- www.qccapitalgroup.com
In the sixty-fifth episode of Collecting Real Estate, we interviewed Chad Kastel.Chad has been a day Trader since 2012 focusing on options. He played poker and ran high stakes private games from 2017-2021. Chad then started Real Estate investing in 2016 with an Airbnb House hack in Florida . Afterwards, he purchased a mixed-use duplex in upstate NY in 2019. In 2021 Chad decided to scale and formed an equity partnership with a local GC. He put up 100% of the capital + rehab (and knowledge). The GC helps find properties, oversees rehab, finds/manages tenants. Chad owns a property until he gets his principal investment back. After the GC receives his principle, he owns 40% of the equity in the property plus 40% of cashflow. They look for properties that BRRRR quickly and banks that will match the speed they need. They are focused on C-class properties that cash flow well in the Binghamton, NY area. In 2021 they purchased a Duplex, triplex, 6 unit (currently under construction), 5-unit (lease option, great set up for us), a SFH (was supposed to flip quickly and it didn't), a mixed-use duplex (seller financing 10% down), a 10-unit MF (9/10 we rented) and a 12-unit MF with 2 commercial spaces. They also got a portfolio in Johnson City on their Main St under contract and are waiting to finish the 6-unit and get the refinances on the 10/12 units. They expect to have ~2M in AUM from 2021 with about $100,000 of their money in the deal. For 2022 they are going to double that and get in to college rentals. . Chad and his partner are beginning the Jake and Gino Courses this week and have their fist coaching calls. Somewhere near the end of 2022 or 2023 they are going to balance the portfolio and do some investing in B-Class units in A-class markets. They are going to use the course to hone our syndication skills to be able to do this. Email Address: chadkastel@gmail.comTwitter: @chadkastelFacebook Page: Chad Kastel Real Estate Investor
Jeremy Barker is a Senior Project Architect and Associate at MSA Design. A native of the small Ohio city of Findlay, his journey as an Architect began at the University of Cincinnati College of Design, Art, Architecture, and Planning. After working for several firms and freelancing on his own, he joined MSA in 2004 and has risen through the ranks to become a leading Sports Designer, Architect, and Master Planner for the firm. Some of his key commissions involve work with Major League Baseball franchises, higher education institutions, as well as civic governments. In his personal time, he is the Owner and rider of the #137 Yamaha Motorcycle Privateer Roadracing Program. 2017 WERA National Champion in Lightweight Twins SS Novice and Formula 2 Novice. Currently competing in B-Class and National 600 Superstock and Superbike Novice. His awards and achievements as a racer include: -WERA National Challenge Series - Lightweight Twins Superstock Novice - 2017 Champion -WERA National Challenge Series - Formula 2 Novice - 2017 Champion -WERA Sportsman North Central Region - 2017 North-Central Formula 2 Novice Champion
For many commercial real estate investors, C-Class and B-Class properties are almost synonymous with the term “value-add.” But for Jonathan Nichols, he's found that there's still value-add opportunities in Class-A properties that investors might otherwise miss. In this episode, Jonathan reviews his recent deals, including a Class-A student housing property, and why value-adds can also apply to Class-A properties. Jonathan Nichols | Real Estate Background Full-Time Syndicator at Apogee Capital which helps people passively invest in value-add multifamily real estate. Portfolio: GP of 200 multifamily units, 18 short-term rentals. LP of 250 units. Worked for 10 years as an aerospace engineer and went full-time in real estate in 2021. Based in: Arlington, TX Say hi to him at: www.apogeemfc.com | LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/ Best Ever Book: The ONE Thing: The Surprisingly Simple Truth About Extraordinary Results by Gary Keller Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss
There are a plethora of marketing tools you can use to find real estate deals, but which ones work best in the multifamily space? In this episode, marketing expert Nick Love shares how you can source multifamily deals through strategic marketing. Nick Love | Real Estate Background Acquisitions & Marketing Manager at Hazel Equity, an investment firm that purchases A/B Class, value-add properties in Texas, as well as educates other multifamily operators on marketing and social media strategies. Portfolio: 491-units under management. Based in: Dallas, TX Say hi to him at: Linkedin: www.linkedin.com/in/nicklovemultifamily Best Ever Book: How to Legally Raise Private Money by Kim Lisa Taylor, Esq. Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss
www.sevenbridgesrealtygroup.com
Jim Edgar grabs #164 Wyatt Kerr to talk about his 2nd place in the B Class at the 2021 Pro Circuit Open at Dade City MX in Dade City, Florida.
https://www.biggerpockets.com/blog/invest-b-class-properties
The Commissioner give his thoughts on both races and threatens WootWoot757 with a demotion.
Canadian-living-in-Colorado #11 Connor Stevenson is a fast 16-year-old rider who is quickly making a name for himself in the Centennial State's amateur motocross scene. The 6'4" teen is currently training in Oklahoma getting ready to race the B Class in the Kicker Arenacross series. We grabbed his father, Craig Stevenson, and him for a podcast interview on New Year's Eve.
In this week's episode, Pinny speaks with Andrew Cushman who transitioned from a full-time chemical engineer to acquiring and repositioning over 1,800 multifamily units. For over a decade, Andrew has been growing real estate investment businesses full-time. Starting off with single-family properties in the depths of the Great Recession, Andrew completed 27 single family flips (purchase, rehab, sell), all of which were very profitable. In 2011 Andrew transitioned to the acquisition and repositioning of multifamily properties, acquiring a mostly vacant 92 unit property on the other side of the country as a first deal. That first property was eventually sold for several times its original purchase price, and Andrew now acquires B Class, value-add properties throughout the Southeast. In total, Andrew and his team have acquired and repositioned over 1,800 multifamily units to date. Outside of the business world, Andrew has been a certified alpine ski instructor and when not working in real estate enjoys surfing, backcountry skiing, and trying to not be outwitted by his two children. To connect with Andrew Cushman, click here. _ Pinny is an entrepreneur and multifamily real estate syndicator; he studied business management at Fairleigh Dickinson University. He then went on to be a sales representative for a building supplies company (Dependable Plastics). He was promoted to business development manager, where he supervised and grew a sales team that grossed over 5 million annually in sales. After meeting many successful real estate professionals on the job, Pinny was inspired and decided to begin his own entrepreneurial journey. He began in 2019 by purchasing his first real estate deal, a single-family home in Pennsylvania. Concluding that he would have to acquire hundreds of such properties to reach his goals of financial freedom, he decided that multifamily syndication would be the more efficient vehicle to help him reach his goals. Today Pinny is truly enthusiastic about multifamily syndication and has made it his mission to help as many people as possible achieve financial freedom, thus enabling them to pursue their true passions in life. Outside of real estate, Pinny is a gym rat, loves the outdoors, and enjoys baseball, swimming, and hiking. To get a FREE e-book: CLICK HERE. To connect with Pinny Lubinsky. E-mail: Pinny@PLCapitalVentures.com Instagram: @PinnyLubinsky Website: https://plcapitalventures.com/.
You need to know this - There are 3 types of people you can employ in your business: 1. A-Class 2. B-Class 3. C-Class So what are the characteristics of each one and what is the importance of each one? To find out, tune into Episode 140: A Class, B Class and C Class Players Don't forget to like, comment and share... and if you love it, hit the subscribe button too
This episode covers section 16(b) class actions! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
Andrew Cushman has a BS in a Chemical Engineering from Texas A&M University. After graduation, Andrew worked in a Chemical Engineering company for 7 years in a variety of supervisory positions. During that time, Andrew (joined by his wife in 2004) experimented with a variety of businesses in the hopes of making the jump from W-2 employee to entrepreneur. In 2007 Andrew discovered house flipping and left his corporate position to start a business in real estate investment. Starting off with single-family properties in the depths of the recession, Andrew completed 24 single family flips (purchase, rehab, sell), all of which were very profitable. In 2011 Andrew transitioned to the acquisition and repositioning of multifamily properties, acquiring a mostly vacant 92 unit property on the other side of the country as a first deal. That first property was eventually sold for several times its original purchase price, and Andrew now acquires B Class, Value-add properties throughout the Southeast. In total, Andrew and his team have acquired and re-positioned 1,796 multifamily units to date. Outside of the business world, Andrew has been a certified alpine ski instructor and when not working in real estate enjoys surfing, backcountry skiing, and time with his family. Andrew is married with two children and resides in Southern California. What You Will Learn: How Andrew raised $1.2 Million financing in 6 months for his real estate property deal in 2011. Andrew shares the remodeling and renovation he had done on the property. Andrew’s staging approach to improving real estate investment properties. How Andrew refinances the property for another 3 years and sold it for around $1.7Million. Andrew shares his geographic strategies, both the wide and narrow scope with good demographic trends. The implementation of strict screening procedures for the real estate property investments especially in areas badly affected by recessions. Andrew’s insights that there is no such thing as a “bad market” only “bad strategy”. Why Andrew’s team is looking between 80 to 230 units per asset. How Andrew selects somebody for property management. The roles of Rehab coordinators for Andrew’s property deals. The best way for people to connect with Andrew. Additional Resources from Andrew Cushman: Cell Phone: (714) 873-6426 Email: andrew@vpacq.com Website: https://www.vpacq.com/ LinkedIn: https://www.linkedin.com/in/andrew-cushman-959471a/ Facebook: https://www.facebook.com/DAPT-Acquisitions-456701027786429/ Instagram: https://www.instagram.com/vantagepointacquisitions/ Youtube: https://www.youtube.com/channel/UCr_PLJ2AoRH6PNc7Zi27XPA
When Tara finished her schooling in Sudbury, Ontario, she set her sights on working in corporate health and wellness, but quickly found that wellness in the corporate world was often an afterthought, and didn't fit into the standard 9 to 5 routine. She decided to change direction and started to work at a local gym in her home town doing personal training, and sales and marketing. A short time later, the opportunity to move to the Northwest Territories arose. The moment she stepped into her new community she felt energized by the possibilities. Her soul was calling to her and she decided to listen. Colliding music, emotions, dance, and fitness she took a leap of faith, and decided to offer a new kind of class. Her jaw dropped to the floor as she noticed she had 50 people lined up down the hallway ready to get their groove on. Tara quickly realized using music to help people move their bodies, spark joy, release emotions, and start them on the road to healing was her calling. Her class is not just an exercise class, it's an experience that involves the shedding of self and rebuilding layer by layer. Her story is one of finding your purpose and using the gifts that you have been given to start a movement. In this episode: 1. The origins of The b. Class (1:02). 2. Using music and movement to raise your vibration (6:12). 3. Letting your tears wash away what no longer serves you (9:58). 4. The gifts, the talents, the calling (12:49). 5. The business model – bigger than just me (14:33). 6. Moving online… would a global pandemic stop the movement? (16:57). 7. It's not about the exercise (22:01). 8. Collaboration and bringing The b. Class to the world (25:24). 9. Letting life show you the way (29:09). 10. Coaching, branding, and building confidence (32:05). Connect with Tara If you want to join in on the movement or find a class near you, connect with Tara on Instagram @the.b.class or Facebook at https://www.facebook.com/amovementobyou/?modal=admin_todo_tour. Connect with Helen When the healing begins, writing about it can be soothing for the soul and provide an even deeper level of healing. Check out www.thegiftofbeingpresent.com to register for one of Helen's Programs.
The difference between those who have achieved success and those who have not comes down to how quickly you can pivot and course correct during times of extreme adversity and uncertainty. Today, I speak with Andrew Cushman, who gives some crucial tips and strategies on how to steer through the storm we know as COVID-19. Starting off with single family properties in the depths of the Great Recession, Andrew completed 27 single family flips, all of which were very profitable. In 2011 Andrew transitioned to the acquisition and repositioning of multifamily properties, acquiring a mostly vacant 92 unit property on the other side of the country as a first deal. That first property was eventually sold for several times its original purchase price, and Andrew now acquires B Class, value-add properties throughout the Southeast. In total, Andrew and his team have acquired and repositioned over 1,800 multifamily units to date. Outside of the business world, Andrew has been a certified alpine ski instructor, and when not working in real estate, he enjoys surfing, backcountry skiing, and trying to not be outwitted by his two little boys. On this episode of the #IAmMovement podcast, Andrew and I discuss how he transitioned from chemical engineer to becoming a top real estate investor with 1,800 units, why he decided to start reducing acquisitions in 2017, and how the stock market and real estate react differently when faced with an economic crisis.
The difference between those who have achieved success and those who have not comes down to how quickly you can pivot and course correct during times of extreme adversity and uncertainty. Today, I speak with Andrew Cushman, who gives some crucial tips and strategies on how to steer through the storm we know as COVID-19. Starting off with single family properties in the depths of the Great Recession, Andrew completed 27 single family flips, all of which were very profitable. In 2011 Andrew transitioned to the acquisition and repositioning of multifamily properties, acquiring a mostly vacant 92 unit property on the other side of the country as a first deal. That first property was eventually sold for several times its original purchase price, and Andrew now acquires B Class, value-add properties throughout the Southeast. In total, Andrew and his team have acquired and repositioned over 1,800 multifamily units to date. Outside of the business world, Andrew has been a certified alpine ski instructor, and when not working in real estate, he enjoys surfing, backcountry skiing, and trying to not be outwitted by his two little boys. On this episode of the #IAmMovement podcast, Andrew and I discuss how he transitioned from chemical engineer to becoming a top real estate investor with 1,800 units, why he decided to start reducing acquisitions in 2017, and how the stock market and real estate react differently when faced with an economic crisis.
Not many movies to talk about it, but we do talk about the Xbox game delayed. The Xbox Series X confirmed for November at least. Avengers Beta impressions, more fall guys, and Craig as a couple of rants to go through. Hope you guys are enjoying the podcast and have a fantastic day! Prepare for some more stuff from us in the future!
Jeremiah talks about the Washington Football Team, Adesanya vs Costa, and being trash at CoD --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/jeremiah96/message
Finally the wait is over, with only a matter of hours till P1 in Austria we have a quick wee chat about who we expect to be challenging for the top 3 driver positions and the best of the rest B Class for the other 7 teams. Contact us on the show at;- DNF1Podcast@gmail.com Merchandise for DNF1 as well as Formula 1 In Motion, Track Art and a host of other designs are available at redbubble.com (link bellow) Shop Name is " BeardyCat" Beardycat Shop (https://www.redbubble.com/people/Beardycat/shop?asc=u)
Diary of an Apartment Investor Podcast is sponsored and produced by Four Oaks Capital, LLC, a real estate investing firm focused on value-add multifamily properties in the southeastern U.S. If you’re interested in learning more, please visit our website at www.fouroakscapital.com. If you’re an aspiring investor and want to be considered for our show, please fill out our application form at www.fouroakscapital.com/podcast -- or you can email me directly at brianbriscoe@fouroakscapital.comIn this episode, I talk about the various asset classes and what they mean to investors. A-Class: new, high-end apartments with tons of amenities; generally more expensive and less cash flow, but tend to experience more growth in the first few years.B-Class: not as new, not as high-end as A-Class. Some amenities, but not as much. Typically 10-25 year old apartments that aren't quite in the same league as the newer construction. Typically bring higher cash flow than A-Class and opportunity for higher returns if there's value to be added.C-Class: Generally thought of as workforce housing. This is the average apartment building for average people. Typically has fewer amenities and buildings are 25+ years old. These have higher cash-flow than A- or B-class and frequently can have higher returns due to forced appreciation through renovations.----Your host, Brian Briscoe, is a co-founder and principal in the real estate investing firm Four Oaks Capital. He and his team currently have 168 units worth $7.5 million in assets under management and are continuing to grow. He is a Lieutenant Colonel in the United States Marine Corps and brings years of leadership and management experience to his real estate investments. As a Marine officer, he has proven his ability to plan, lead, and effectively accomplish missions in both training and combat situations. He has earned graduate degrees from both the University of Utah and Naval Postgraduate School and is currently stationed at the Pentagon where he is finishing his last year of active duty. He has actively invested in real estate since 2007. Brian is an “Advisor” in Michael Blank’s Deal Maker Mastermind and has been featured on numerous podcasts. He runs a local meetup and has also spoken at numerous events on apartment building investing.Connect with him on LinkedIn: https://www.linkedin.com/in/brian-briscoe-445658a/Connect with him on Facebook: https://www.facebook.com/bribriscoeConnect with him on Bigger Pockets: https://www.biggerpockets.com/users/BrianB304...and of course, our website: www.fouroakscapital.com
Andrew Campbell, managing partner at Wildhorn Capital, shares his story of how he went from one duplex to 1800 units. Wildhorn Capital provides investors above-average returns by acquiring and repositioning value-add multifamily assets in Texas. Their current portfolio is valued at over $220MM.
On this episode, Yonah Weiss brings on Robert Martinez to find out the secrets to consistently getting Rockstar's communities to the top 3 spots in the nation for resident satisfaction. Continue your real estate education journey and learn about how Robert Martinez set the standard for B-Class properties around Texas and how they interact with their residents. You'd be surprised how reputation can maximize real estate investor returns. . . Link to Yonah Weiss Website: https://www.yonahweiss.com/ . . Audio-Only version is also available on all podcast streaming services. . . Previous Podcast: https://youtu.be/nGrCG_lhzxc . . Follow me on social media: l.eadme/theapartmentrockstar . . theapartmentrockstar.com Rockstar-capital.com Our offerings under rule 506 C are for accredited investors only. For our anticipated Regulation A offering, until such time that the Offering Statement is qualified by the SEC, no money or consideration is being solicited, and if sent in response prior to qualification, such money will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is qualified. Any offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. A person's indication of interest involves no obligation or commitment of any kind. Learn more about your ad choices. Visit megaphone.fm/adchoices
Building Multifamily Real Estate from the ground up. Workforce Housing Demographics of A vs B Class urban development 5 Bedroom Townhomes at scale Being a local change agent The stability of Multifamily Real Estate Proving the models Being recession resilient Build and hold vs build and sell To find out more about our guest:https://www.urbanpacific.com/ To find out more about partnering or investing in a multifamily deal: Text Partner to 41411 or email Partner@RodKhleif.com Review and Subscribe
Andrew Cushman joins us to discuss the journey from full time employee to full time investor, and strategies he's used in real estate to build financial independence. He went full-time rather quickly, and has succeeded through and beyond the Great Recession. We discuss the state of the market today, how he's finding deals, and important lessons we can learn from this veteran of the real estate industry!Quotes:“There are no bad markets, just bad strategies.""It took 4,756 phone calls to get our first deal""Relentless Persistence."Get in touch:www.VPAcq.comOther Similar Episodes:Passive vs. Active Investing for Financial Freedom with Hunter ThompsonCommercial Real Estate Investing Beyond Multifamily with Greg Dickerson Guest Bio:Andrew Cushman has a BS in Chemical Engineering from Texas A&M University. After graduation, Andrew worked for a large food company for 7 years in a variety of supervisory positions. During that time, Andrew (joined by his wife in 2004) experimented with a variety of businesses in the hopes of making the jump from W-2 employee to entrepreneur. In 2007 Andrew discovered house flipping and left his corporate position to start a business in real estate investment. Starting off with single family properties in the depths of the recession, Andrew completed 24 single family flips (purchase, rehab, sell), all of which were very profitable. In 2011 Andrew transitioned to the acquisition and repositioning of multifamily properties, acquiring a mostly vacant 92 unit property on the other side of the country as a first deal. That first property was eventually sold for several times its original purchase price, and Andrew now acquires B Class, Value-add properties throughout the Southeast. In total, Andrew and his team have acquired and re-positioned 1,796 multifamily units to date. Outside of the business world, Andrew has been a certified alpine ski instructor and when not working in real estate enjoys surfing, backcountry skiing, and time with his family. Andrew is married with two children and resides in Southern California.
On today’s show we’re talking about the office real estate market. And no, we’re not talking about WeWork. I had the opportunity to take over a co-working space that had been operated by an accountant. they had the master lease for about a 7,000 square foot office space that had been divided up into small offices ranging in size from 100 square feet up to about 800 square feet. There were a total of 25 separate spaces, of which all but three were leased. The accountant who owned the accounting firm died, and the wife of the accountant didn’t want to manage the real estate. In fact she was also in the process of trying to sell the accounting firm. The owner of the building was a major national landlord with billions in assets. The offices were renting for $500 to $800 per month for the smaller ones capable of housing one to two professionals. The accounting firm had fallen behind on its rent payments to the building owner was in default under the terms of the lease. The owner had since engaged with another company in the co-working space who ran the floor for a year and they too had fallen behind on their lease payments. The building owner had finally taken over operation of the floor, but in reality didn’t want to be dealing with 25 individual tenants. I already was running another small shared office rental business and the building approached me to take over the running of this 7,000 SF space. I reviewed the financials and the master lease agreement. The tenants were paying below market rents. The expenses were pretty simple to analyze. There was the rent for the entire floor, a few miscellaneous expenses for the photocopier and printer, insurance, and the salary for the receptionist for the floor. The two major expenses were rent at $14 per SF NNN, about $28/SF gross, and the receptionist. The rent wasn’t a bargain, but it was certainly quite fair for a modern B-Class office building. As the business was currently operating, it would break even at 95% occupancy and would generate about $40,000 a year at 100% occupancy. I might be able to raise the rents over time, but it wasn’t clear how many tenants would seek alternatives if I increased the rent. The business would generate a profit if I eliminated the receptionist, but then there would be nobody apart from myself actually working inside the business. That was not something I was prepared to do. It was an inexpensive way to expand in the co-working business. I would inherit all the furniture, all the equipment. It was an instant revenue stream. As is, the business represented too much risk. There was no way I would sign a 5 year lease complete with personal guarantees when I had no guarantee that the tenants would stay with me at a higher monthly rate. So I decided to decline the opportunity. In the latest co-working news, WeWork competitor RocketSpace is pulling the plug on its operations. RocketSpace is a San Francisco-based coworking startup founded in 2011. If RocketSpace files for bankruptcy, it will join another San Francisco coworking company called Sandbox Suites, which filed for Chapter 11 bankruptcy reorganization in April. The prices at Sandbox are pretty attractive if you’re a tenant. An office with two desks costs $1,000 per month. That includes 10 hours of free use of a meeting room each month. I’m talking about an office in San Francisco or in Silicon Valley. That’s incredibly cheap. The problem with these co-working businesses is that the labor costs are high for the number of tenants. A co-working space doesn’t really function properly with zero staff, and the front office staff doesn’t offer enough perceived value for the tenants that the customers would be willing to pay a premium for it. None of these companies have a profitable business model. I couldn’t even make the numbers work with zero capital investment, taking over an existing business.
Achieve Wealth Through Value Add Real Estate Investing Podcast
James: Okay. So let's get started. Hey audience, this is James Kandasamy from Achieve Wealth Podcast. Today, we have Tim Bratz from Legacy Wealth Holdings. Tim is a multi-family syndicator/sponsor who owns almost 3200 units almost valued at 250 million dollars in value. Hey Tim, welcome to the show. Tim: James, I appreciate you having me, buddy, thank you. James: Absolutely. Happy to have you here. I've been trying to get you on the show for some time and we have been playing tag on the appointments. That's good. So, can you tell me which market are you focusing on right now? Tim: I'm actually in six different markets, six different states. I'm pretty heavy in the Southeast. Majority of my property, about 70% of my properties are in South Carolina and Georgia, but I'm also in Ohio which is where I live. And then I'm also in Texas, Oklahoma and I got a couple of vacation rentals down in Florida as well. James: Okay. Without going too much into detail just quickly, how did you start? And then how did you scale to 3,200 units within how many years? Tim: Yeah. Well, I mean, I was going through college when the last market cycle was going gangbusters. So 03 to 07, I'm going through college, everybody said if you wanna make money get involved in real estate. I ended up moving out to New York City because my brother was living out there. And I became a commercial real estate agent for businesses. You know, so I broker leases and I brokered a lease that was 400 square feet in Manhattan. It was $10,000 a month and so I was like the wrong side of the coin. I need to be owning real estate not brokering it. So I got into a lot of the residential stuff. I think a lot of investors get into real estate because of the lure of passive income and residual income, but then many of us get stuck doing this transactional stuff of flipping houses and wholesaling. And I went through that same phase, you know, I thought I had to stockpile my own cash. I didn't understand that you could syndicate, that you could raise private money and bring in equity partners and how your sponsors to then cosign on loans. I didn't know that that was possible. So I went through the whole residential side of things and bought my first apartment building the end of 2012. So just like seven years ago. It was a little eighth unit building and I fixed it all up, put tenants in place and I was like man, I'm making better returns on this than I am flipping houses and it's way less headaches. And so I bought another eight-unit and kind of built up a portfolio about 150 units with some partners. That partnership ended up going bad a few years later. In 2015, I ended up liquidating everything and then just going back out on my own. And so I started on my own and just kind of partnered up with a couple of people that they just started raising money for different projects and I partnered up with good operators and bring money to those projects and help sponsor those loans or I started buying my own properties here locally in Cleveland. And over the past four years, pretty much in August of 2015, I started buying my own stuff. So it's been right at four years now. I built up a little over 3200 units, 3207 units as of today, about 251 million dollars worth of property value and my model is based on the residential realm, actually. I buy properties and I got to be all in for 65% of the stabilized value because that's what the model was. I never read a book. I never went to a seminar before. I just kind of developed it myself and I started buying properties, apartment buildings, the exact same way. So I have to be able to buy it, renovate it, be all in for 65% of that stabilized value. And so a lot of the buildings that I buy, you know, I'm into a building that's worth 10 million dollars for about six-six and a half million dollars. So on the 250 million dollars worth of property, I only owe to lenders and my equity investors, it's like right at 150 million dollars. So we have a lot of equity in our properties too. James: Got it. Got it. So it's very interesting you bring up that 65% because that's the exact number that I had when I was doing my single-family for zero money down. So I counted if I get at 65% ARV, which is after repair value, you should be able to do a second load, which is I call it as a double closing of a loan. I have two loans; one loan is like you do like a short term loan and at 65%, you buy it, you take a rehab loan and then you flip it to the long term loan. Tim: Yes. That's my entire model. So I don't traditionally syndicate, I buy distressed assets. I'm bigger than some of the smaller investors but not quite a hedge fund or a Reit and I'm willing to get my hands dirty, I'm willing to actually do the work. So I take on a little bit more distressed type properties. I only buy in A and B Class areas, but the properties are typically C-Class type properties that need physical improvements, better management. Like really not just value-add but like a total repositioning a lot of times. We're remarketing, rebranding, all that. And so, we come in and we fix it all up and because we force appreciation because we can make it happen and really create the appreciation versus speculating on appreciation and hoping values go up over the next five years, we're able to create a lot of equity in that first 12 months and then we're able to turn around and refinance and cash out our investors. So instead of selling, I just refinance at like a 70% loan to value that gives me enough money to then, pay off my bridge loan. Or that short-term construction loan is and it helps me pay off my investors and to me, it's more predictable. It's more predictable to know where interest rates and where the economy is going to be 12 months from now or 18 months from now than it is like maybe 5 or 7 years from now. Five or seven years from now, we could have a very different economy, very different political circumstances; could have three different presidents in the next five years, right? So we just don't know. And for me, I like the predictability of buying at a wholesale price, creating an appreciation and then cashing out my investors. Now it's you know for lack of a better term house money in play, right? So now we can let the property ride and we can hit sit on it. It doesn't matter what happens to the economy for the next 10 years, I have a long-term, long amortization schedule fixed interest rate loan, non-recourse loan in place; where the market can go up it can go down, I still have tenants in place paying the debt service, paying the operating expenses, and putting cash in my pocket and I could ride this thing out because I don't owe any of my investors any more cash. James: Got it. Got it. So yeah, that's exactly the deep value add, that's how I position it where you buy it at really good value; very, very low level. You really put all your effort to push up the first appreciation and then you go and refi in 12 to 18 months, I guess right? Tim: And we built some new construction stuff too, down in the Southeast. We built some townhouses. Like we'll do new construction, it'll be like an A or B plus kind of an area but it's not luxury. We do only workforce type housing so we can build townhouses for about $85,000 per unit, 80 to 90,000 per unit and they'll rent for about 1,300 bucks a month for us. And so that allows us to get the values where we need it to then refinance and do the exact same thing just for new construction. So we do a little bit of that and more repositioning of existing assets though. James: Yeah, very interesting. I really like the model. I was doing it like two-three years ago. I mean, for me, I got worried about the market and I start, not looking for deep value add and also deep value add is harder to find. Even though you find it, what happened the sellers are basically taking the value by pushing up the price on the deep value add and because of that, it's not a deep value add anymore. Tim: Right. I don't pay a seller for the value that I'm going to bring to the property, right? So there are some sellers that you know, they're like, oh, well, this could be worth this much. Yeah, but I have to create that value. You're not creating that value. So we find we're a lot of times direct to seller, off-market type property. You know, we're big enough now, especially in Georgia and South Carolina, we have the broker relationships where we're one of the top five buyers in town and you get those deals before they actually hit the market. But in a lot of other markets, I'm not, you know, the biggest buyer in town so I have to go off-market, direct to seller, kind of stuff. And we get a lot of our properties from Mom and Pops who have owned it for 20 30 years or inherited the property. They just didn't put any more money back into it. You know, the total debt on the property is very low if at all and they just don't want to put any more money into it. They don't want to do the work so we buy it from them. Or I buy a lot from smart entrepreneurs, really sharp people who make a lot of money in their traditional business and they just put their money in real estate and then they didn't have a joint venture partner. They never got educated. They don't know how to manage a management company or interview a management company and they just get abused in the business. So they're like I'm making too much money in my traditional business, this thing is going to sink me. Let me just fire sale this apartment building. So that's where we buy most of our properties from. And then again: we reposition it, we do the stuff that that hedge funds aren't willing to do, and we're qualified enough to take down a 200 unit building that needs a pretty heavy value-add. I do it that way. But like you said though, James, I'm starting to buy a little bit more stabilized assets, more like 85-90 percent occupied of just a little bit of tweaks in the common areas and amenities and then bumping up some rents. We're doing a little bit more of that right now just because of where we are in the market cycle. James: Yeah, correct. But you gave a lot of details that I want to go a bit more detail into that. So you said you look for deals that are in class A and B, but more distress. And I mean you're basically shrinking your funnel as well because you're going for that... Tim: Niche gets rich, right? James: Exactly. [11:02crosstalk] Tim: People say hey real estate's mine age. Now real estate's an industry, right? Apartments aren't even initial. You need to figure out what you are really, really good at. And one of the things that I'm really good at is 80 units to 100 units that are distress. It's bigger, it's too distressed for the small guys to get a loan on it because they don't have the background or the resume to go and take down that kind of stuff and the qualifications do that because they haven't done it before. It's a big project, big value add and at the same time, it's too distressed for the hedge funds because they just want to park money and let it sit, let it ride, and let it cash flow from day one. So this is my niche. It's A and B Class areas; good areas, desirable areas, just distressed kind of properties and we're able to get in there and we have all the financing, the relationships are all in place. We could raise the money pretty easily because we can cycle our money every 12 to 18 months. I don't have to wait five years to get my investors their money out; I can cycle at every 12 to 18 months. So as soon as I pay him back guess what they say, let's go do another one. And then they're involved in you know, three deals in five years versus one deal in five years and it makes my life easier because I don't have to go and raise money from new people all the time. James: Got it. Got it. That's a really good model. So that's the investors after you cash out when you pay them back, do they stay in the deal as well? Tim: Yep. So mine's a little bit different than traditional syndication. Usually me and my joint venture boots-on-the-ground partners, we keep 70 to 80% of the equity in the deal and then we pay a pref, a fixed pref to our investors regardless of the properties performance. So even if it's not cash flowing it's predictable because I know that if I'm borrowing 2 million bucks, I'm paying, let's say, 10% pref, I'm going to pay $200,000. That's just a cost of the deal. I got roofs, I got flooring, I got paint, I got cost of capital; it's an extra $200,000. So I build that into my model and then I can make those payments to them. They feel more confident, more comfortable because now they have a predictable return on their investment. Then I refinance, they get all their money back off the table and then they still maintain 20-30% ownership without any money invested and we're able to do that again and again and again. And so, you know with traditional syndicators if I try raising money from somebody who's used to traditional syndication, they're like, why would I ever do that? Well, you get a predictable return and secondly, you get 30% ownership. But if all your money is in three different deals, it's actually 90% ownership because 30% 30% 30%. And so overall, they're actually ahead of what they would do in traditional syndication where they might get 70 or 80% of the equity in one deal. So, it actually works out better for the investors, works out better for me but it's a lot of work on my part. We spend a lot of money. Sometimes we spend a lot of money on advertising in new markets until we have those relationships built up and then, in order to find those off-market direct to seller deals and it's a lot of work. Like my business partner down in Georgia that I own a bunch of property with, he goes and sleeps at the properties for three nights a week. He spends four full days there, sleeps in a B-class apartment, you know, on a blow-up mattress, the guy is worth 25 million bucks. And then his brother who's our other partner is worth another 25 million and they're sleeping at the properties, doing the work, kicking the tables, making sure construction ends up on time, on budget and that's what you need to do man. I see a lot of people who are trying to be this puppet master and they're not willing to actually do the work of taking ownership over this thing. They just want to go and syndicate and then go back off to whatever they're doing. And to me, like there's something to be said about just having old school diligence and work mentality and what you can get done if you're willing to do that kind of stuff. James: Yeah, real estate is very, very powerful; especially commercial real estate where you can force appreciate. And especially if you are going to get the majority of the equity in the deal, why not I sleep, right? In 12 months, 70 to 80% of this deal is going to be mine. Why not work hard, I'm with you. Tim: It's a season of your life. If you're putting your head down for a year or 18 months, but then you can generate millions of dollars of equity, why not do that? And so yeah, that's kind of the mentality that we take. James: Correct. Yeah, it's very powerful to create wealth and I think the investors appreciate that as well because now you're able to give them back their money and all that. But your model is assuming that you are able to refi into a long term loan in the 12 to 18 months, right? So what happened if that model breaks? Tim: Yep, absolutely. So that's the inherent risk with our model is what happens if rates change, what happens? If banking tightens up, what does that all look like? So a couple of things. One, I don't think rates are going to change as much in 12 or 18 months as they would maybe in five or seven years. So to me, we underwrite the deal - like right now, I just closed on 500 units. I got 2 buildings, around 250 units each last month and I got a 3.83 and a 3.88 interest rate. Even right now, rates went up back; they're hovering around for four and a quarter right now for stabilized assets. We're underwriting the deals with 4.75 to five percent interest rate on the back end for a stabilized property. So we're taking on some of that, some of that, we're underwriting it for that. We also underwrite our rents very, very conservatively and we're at such a low basis in the property, usually around 60% of what that stabilized value is, we have options. So Fannie and Freddie are tightening up big time right now. That's okay because we're at such a low basis that we can still go over to CMBS - commercial mortgage-backed security - or a life insurance company and even though they offer a lower loan to value, I'm okay with that because I'm at a low enough basis. I can still cash out my investors. So worst-case scenario, my investors still get their money back and we have a lower LTV loan. So maybe there's not some refi proceeds or anything like that that we can take off the table but at the end of the day, they're going to have more equity, you know, their equities gonna be worth more in the property and the cash flow is going to be more on a recurring basis for that. And the other thing is even when banks stopped lending to people in 2009-2010, guess what? They were still lending to somebody and it was the people with big balance sheets, with stabilized portfolios. And I have a big enough balance sheet and stable enough portfolio. I'll be able to get refinanced regardless of what happens in the next 12 to 18 months so I'm not that concerned about it. And again, because our basis is so low, we have such high cash flow on these properties. I have different options and have a good team of mortgage brokers. Who even if I had a slap another, you know three-year loan on there, even if it was at 6% interest rate or six and a half percent interest rate, I can still cash flow; it's enough. It covers my operating expenses, it covers my debt service, still puts cash flow in the bank. You know, it's a crappy conversation that I have to have with my equity investors, but they keep on making ten percent on their money so they're happy. You know, the worst-case scenario is they get their money back in 48 months; then, you know it is what it is. So I've taken a look at all the downside. I've talked to people with billion dollar portfolios and said, hey poke holes in my model. And that's the inherent risk is what if you can't refinance? So that's one of the things. The deals that I just closed last month, they were already in that 85-90 percent occupancy range. Like right at 90-91, I think is what they were. And so we got a Fannie Mae loan actually on it. That's a construction loan that we'll be able to put a supplemental debt on it. So, it's already a long term loan, 30-year amortization, couple years of interest only. And then, whenever we create the appreciation, 12 months 18 months from now, we'll be able to put supplemental debt, which is kind of like a second mortgage almost but through the same lender, so they're cool with it. And so the only real risk I'm taking is the interest rate on that portion of the debt. I owe 17 million dollar mortgage on it right now. And then the other will be about another 7 million dollars. So the only real rate risk is I'll get home at three point eight percent on 17 million dollars, even if the other 7 million goes a 5%, my blended cost of capital still four and a quarter or maybe a little less. So, you know, that's another way that we're reducing that ongoing risk. James: It's very interesting. Now you're convincing me to do deep value add again. So because it's just so hard to mess up. Tim: I mean, the construction is where it all comes down to. I mean, if you stay on time and on budget, you're in good shape. But if you don't have a good construction partner like you can really get burn bad in the deep value add stuff. So you've got to understand what your team looks like, what your strengths are, what your weaknesses are. And for me, we're okay with it. We're pretty good at it and we have a really good construction team. My partner in Georgia, man, I put him toe-to-toe against anybody in the country from a construction standpoint. He can build new construction, he can renovate existing units. And because he has the mentality of 'let me go and sleep at the property' three nights a week, away from his family, away from his five kids, you know, he's willing to take that on because it's again a season of his life. Like that's kind of partners that I like to partner up with. James: Yeah. Hustlers, they will go really far in life and that's what we need. It's very interesting. So I mean, is there any deal that you find that you didn't do? That you think you should have done and after you passed on it, you realized, ah, should have done that deal? Is there a deal that you look at... Tim: That's a good question. Let me think on this. We try to kill deals. I try to kill every deal that comes across my plate, especially right now. I try to look for every reason to walk away from every deal that comes across my desk. If I cannot kill the deal then I know it's a good deal. And so, you know, as soon as you're like, 'hey, well, I think I can scale back construction and make it work', wrong idea, wrong strategy. Because the last thing you want to scale back is the construction of the value-add process. Because then your rents aren't going to hit where you expect them to hit because you're not able to attract better tenants or higher quality tenants and they don't see the value that you're adding to the property. At the end of the day, like people like, 'oh, I think we can make this one work.' No. The only way you can make it work is if you go back to the seller and negotiate a lower purchase price because that's the only variable in this equation. You know, what rents are going to be is what rents are going to be; what the construction budget is, is what the construction budget is. The only variable here is the purchase price. And you know, you make your money on the buy side. So are there deals that I passed up on that I should have moved on? Maybe but for me, man, I don't have much of a risk tolerance. I only buy stuff that I know that is very predictable to me. That's why I don't play the stock market. I can't control if you know Volkswagen - I can't control if Elon Musk smokes a joint on public television and the stock drops by 15%; you know, I can't control that. I like being able to control real estate and having very predictable returns for me and my investors. And sometimes it's a gut check, you know. Even if everything looks good on paper, but my gut doesn't feel good about it, I'll say no to a deal. It's just that I've seen enough deals go south. And as quickly as we can build our net worth, being in commercial real estate, one bad deal can take out your legs and wipe you out totally. So I'm just not willing to take on that risk, especially when it takes so much work in order to get to where we are. James: Yeah. Yeah. I mean I want to touch on your gut check thing because I know numbers don't lie and we are numbers guys and when underwriting, we want to make sure things work on paper and all that. But I've walked out of a deal because everything works very well and the numbers look good, but there is something wrong in that deal that I didn't discover and I've walked out from that kind of deal as well. And that's very important. I mean, real estate is not only science where everybody says a numbers game and people that are good in numbers will do it but there's a lot of odd to it as well where it's just something wrong somewhere and it comes from experience. Tim: That's the only way you get that, from experience and it's usually personnel kind of things that make me walk from a deal. I'm just not comfortable with that joint venture partner, with that management company or with whatever the seller is saying. You can kind of see through the lines once in a while, whatever that is. Yeah, I mean my model is I'm really good at raising money. I'm really good at sourcing deals. We're pretty good at creating - like we can handle a lot of the back office type stuff. I'm back in Cleveland, Ohio now, is where I live, we can handle a lot of the management side of things; collecting of rents, work orders, telecommunication; all that kind of stuff, all the administrative side. From here in Cleveland, we just need a local boots-on-the-ground partner and some local property managers, maintenance personnel, and I always have a joint venture partner locally. And so if that joint venture partner isn't strong enough, then usually I'll walk away from the deal. Because man, I think it's important to have somebody with vested interest, with equitable interest in the deal; who's local to the property, who can go put their eyes on it a couple of times a month; to keep everybody honest, to keep the management company honest, to keep the local property manager, maintenance personnel, leasing agents and just come in and kick the tables once a month and just let people know that we're paying attention. Because if you don't pay attention, then they take advantage of you. James: Yeah, it's hard work. I mean, I know exactly how you feel in terms of how much hustle and how much detail and how much you have to be on top of the property managers because it's not their baby, it's your baby. And there's so much of details that if you don't ask them, they're just going to slack off right? Tim: Yes. James: They are paid differently from what we have paid for and we are the owners and it's just completely different ownership level, right? So that's very interesting. Is there any deal that you think after you bought it didn't match from what you thought in the beginning. You thought this is how I'm going to execute it but once you buy, it's like, oh, it's completely different from what I thought and how did you overcome it? Tim: Yeah, I mean every deal is a learning experience and you to get punched in the gut enough times and eventually you learn. Fortunately, you know when I was growing my portfolio, I bought my first building in 2012 and I bought an eight-unit building for $30,000. So I'm in Cleveland, Ohio buying units for $4,000 a unit. I put another, I don't know, 50 grand into it. So I'm all in for $10,000 a unit. And it's hard to lose. And so in 2012 2013 2014 as I'm growing my portfolio, while I'm going through these learning curves, the market is getting better and that was able to absorb a lot of my screw-ups early on. So I still made money on every single deal that I did even though I was learning on a lot of these things. There's only one building, a 44 unit building, that I bought about 2-3 years ago maybe that I've lost money on. It was one of those things, hey, I saw the leases, I saw the rent roll. It was 80% occupied and I bought it from a guy that I know, somebody that I actually know. And so, I bought 44 units and he's like, "Yeah, man, 80% occupancy." "Great, man. I'm going to come in, I'm going to renovate the last whatever 9 units and turn those over. I got a local team." He was out of state. "So like my team can come in clean it all up clean up the common areas. I think I can make $300,000 on this thing in the next 12 months pretty easily and it'll cash flow a little bit in the meantime." So I buy it and I find out it's only 25% economically occupied. So there are 35 tenants or something in place and only 11 of them are actually paying rent. And so I learned my lesson there, you know. It's not about occupancy, it's about collections. And this is a buddy of mine. This is somebody I've known for many years and grabbed dinner with him, his wife, my wife and not a lot of times but a few times and close enough where I call him a buddy. And all of a sudden, he sells me a building, tells me it's 80% occupied, doesn't tell me it's only collecting 25%. And all of a sudden, I had to kick out 24 tenants and turn over 24 additional units. So imagine what that cost does now to the $300,000 I thought I was going to make? And this was one of the only times I brought an investor in and he wanted 50/50 of the deal: "Let me bring the money, you do the deal." "Okay, cool." And I'm stroking a check for about 35 40 thousand dollars when it was all said and done. And I could have gone to that investor and said, "Hey, man, I need 20 grand from you. I'm putting up 20 grand of my money. We're selling this thing. It's a pain in the butt. We're gonna lose money on it. But, you know, we gotta get rid of it. And that's part of the deal." Instead, I stroked the entire check, gave him 100% of his money back and because he didn't make a return, I gave him equity in another deal of mine, without him having to put up any money just to kind of soften that blow. And so I think when you do the right thing by your investors word spreads, you know, he says great things about me, he wants to invest in more deals with me and stuff now. It is, do the right thing knowing that there's always another deal. There's always another opportunity. That one, we could have held on to the property long-term and let it cash flow. That's a cool thing about buying apartment buildings. You can really screw up and if you had to, you can hold on to it, manage it, let it cash flow for the next 10 years and eventually, you'll actually make money on these things even with that big of a screw-up. But for me and where my long-term vision is and my team and everything else, it was just more of a C-Class type property. It took up too much management and too many headaches. It wasn't big enough. We couldn't really scale it. So we made just a business decision to sell it and to eat that loss. But it's the only building I ever really ever lost money on. Now we've gone through pretty much everything and we've gotten kicked in the crotch enough times where we know what to look for across every building. Like it's very hard to pull the wool over our eyes unless it's like grossly fraudulent on the sellers part. Another big thing that I didn't know early on that I wish I should have done that's always a consistent issue with every building we've ever bought is like the plumbing and the drain tiles leaving the building. It's always one of those unknowns. So now, we spend three to five thousand dollars to scope every single drain line, in every building that we put under contract to ensure that there's not going to be this massive plumbing bill, unexpected plumbing bill, once we buy the property. So that's one of the things that's been a big deal. And then just verifying collections. Like those two things from a financial due diligence and a physical due diligence perspective like those two things that we've dialed in now and we always did everything else. We always inspected the rooms in every unit, the electrical panels. One of the other things that I didn't do early on that I do now, we've done for the many years now, is I used to only walk the vacant units and the common areas and the mechanical rooms. And then all of a sudden, you realize that they're not showing you all the vacant units. There are other vacant units that they're telling you that they're occupied, they just didn't want you to see them. And like I bought buildings where tenants were turning on and off their faucet with a wrench because there's no actual faucet. So you don't realize a lot of that stuff early on when you're a dumb kid. But I've been through all man. I've been everything. We walk every single unit on a 500 unit apartment building. We will walk every single unit and we'll put a report together on every single unit. It's a one-page, just kind of condition report. We'll take 30 pictures of every single unit. We put it all into like a Google Drive or Dropbox folder. In that way, we have all the information we could ever need on this property. We're not relying on our memory to look up all that stuff. It's all there. Our contractors can see it during the entire due diligence period, all that stuff. And so I think everything's a learning curve. I think you learn from everything. The thing in this business though is like if you can get past all those learning curves, if you can get past some of those losses and some of those getting punched in the stomach, eventually, you're process is so dialed in. Like they can't pull the wool over your eyes that you cannot lose on deals. And that's why we walk away from a lot of deals that we do because they're waiting for somebody who's an idiot who doesn't know what they're doing to come in and buy their property and overpay for it or not do the due diligence that they're supposed to be doing and all these other things. But eventually, you know what you're doing enough, where your risk is so minimized because you've done all the due diligence on these things, it's a very predictable business at the end of the day. Like you said, it's all about numbers, right? James: Yeah, I mean, it's crazy nowadays, right? I mean with the market being as hot as it is right now, with so many people looking for deals and so many bidding war. So nowadays, the smarter thing that a lot of brokers and sellers are doing, they say day one hard money. Now, they lock you in. So you go into a bidding war, you pay this huge amount of hard money and sometimes they don't even give you early access., So now you're locked in. You can find a thousand and one things and yet we are locked in. Tim: No, I don't do that stuff. I don't play that game. You don't need to if your off-market direct to seller. If you're going through brokers, they're going to do that to you, you know. And there are some people who have crazy money and they're willing to risk that; I'm not willing to risk any of that stuff. A lot of people, they spend a lot of time on ROI - return on investment. I spend a lot of time on return on ROI - return of investment, you know, and making sure I get all my money back. I never ever want to risk principal. I mean that deal, that's just too risky of a deal. If they want hard earnest money from day one and I haven't already walked the entire property, I'm not interested in doing it. I think once you get to a point where if you're partnered up with a great sponsor or you are a great sponsor yourself and you have the business acumen that like you have James or that I have like I'm able to posture up with these sellers now and kind of say, "Hey. Yeah, no problem. You can go steal somebody's earnest money. That's okay. You can go ahead and do that. But they're not gonna be able to close on this deal because you're lying about the condition of the property or the financials whatever. Or if you're willing to actually sell it to me, give me my opportunity to do my due diligence and shoot straight with me on everything, I promise you, I'm more capable of closing than any of the other people that you're getting bids from right now or you're getting offers from right now." And so I've been able to kind of build up my credibility in that way where sellers are willing to take less money and offer me better terms than they would maybe with somebody else because they know that I can close on the property. They don't want to get dragged through the mud. James: Correct. Yeah, this is very interesting, nowadays, the way the market is being played. They're putting all these handcuffs of hard money, day one. And there's another handcuffed where they said you must do lending with our own in-house lending. So that's another handcuff. There are two or three handcuffs that brokers are putting on sellers. And the third subtle handcuff that they do; nowadays, when they close, they send out an email saying that, oh, this buyer paid day one, you know huge amount of money $500,000. They're telling everybody else. Tim: They're trying to set that expectation. James: If you want to come and buy deals nowadays, you better be ready. So many handcuffs are being put on buyers. But I think a lot of sellers, you know, if they want to work with a good buyer, people who want to really do business, they don't know want to just make the money on earnest money and waste a lot of time getting people to walk through all their units and getting their stuff all being nervous. So just find a guy who's willing to do it and who is the true buyer. Who knows what he's doing and can close. Tim: The good brokers with long-term visions and long-term goals, know how to find quality buyers and that's better than just anybody who raises their hand with earnest money, you know. In every hot market, there are people who are short-sighted, who got into real estate real quick just because they wanted to get rich quick, kind of a thing. And they'd rather just do it that way and then anybody who raises their hand, they're willing to go with and those aren't the brokers you want to work with. You want to work with the people who have been around the block a few times, who understand what a good buyer looks like, can build those ongoing relationships. Because as soon as the market shifts, if things cool off, it's going to clean out all the unqualified buyers and unqualified brokers as well. James: Correct. So, let's go to a bit more personal side of things. So what I like about you is you're very, very positive. So you like to look at life very positively and you know, it's hard to do because sometimes you always have something negative that comes in. So do you want to explain about in this business, yeah, you always want to say something negative that you always want to talk about but how do you maintain that positivity? Tim: Yeah, I mean, you know, I told you the story when we met up a couple of weeks ago or a month ago. I mean, just less than 90 days ago, I was out golfing and I got rocketed to the face with a golf ball, 100 miles an hour from about 30 yards away. It shattered my upper maxilla bone. It knocked out four of my front teeth and shredded my gums. And my lip opened and I was bleeding like crazy. I look down. I'm like, oh, I feel my teeth dangling from my gums and I look down at the ground and I kind of took a knee to make sure I didn't pass out. I looked down at the grass, I'm like, "Man, this grass is really well-manicured; like beautiful grass here, on this golf course." And I'm like, How the hell am I able to keep up such a positive attitude in this?" You know, I'm thinking about my thoughts. I'm very reflective in that regard. And I was like, "Well, here's why I can see it positive because I got hit my mouth and not in my eyeball or my temple. I could be blind or dead if this thing was an inch higher than where it was." And so, man, I don't know if it's the law of attraction. You can call it God, you can call it, you know the universe and call it whatever but I think when you put the positivity out, it comes full circle. It's kind of like you reap what you sow kind of a thing and I sow seeds of positivity. And so, I jump in the golf cart and I get taken back to the clubhouse. You know, who's dining in the clubhouse? There are two dentists and an ER nurse having dinner in the clubhouse. They put me in there. They look at my teeth. They drop what they're doing. They take me to their dental office, 15 minutes down the road. They stitched me all up. They put my teeth back in and I'm able to save my teeth and 90 days later, you couldn't even tell that this whole thing happened. Like I'm still going through some cosmetic stuff, but overall like it was a terrible situation, but I think because I was positive it all just kind of came to fruition. So, you know, one of the things I've always practiced is not saying I have to do something but saying I get to do something. When I go out to dinner with a bunch of my friends and I pick up the tab, they're like, "Dude, you don't have to do that." " No, I don't have to do it but I get to." The reason that I do what I do is so that I can help people out and I can pay it forward. "Oh, hey, you don't have to cover that bill. You don't have to do this" 'No, but I get to." I had to eat soup for about a month afterward, but I'm thinking you know, I'm eating a tomato bisque basil soup. I don't have to eat mud pies like people do on the other side of the earth. I don't have to walk two miles each way to go and get fresh water like people have to do on the other side of the earth and some people on this side of the earth. I get to eat soup, I get to eat something that's a bisque that has basil in it. Like are you kidding me? Like there are people who would kill to be able to eat that kind of stuff. I didn't have 14 teeth knocked out, I only had four teeth knocked out. I think when you just compare it and you put it in that type of perspective of, man, it could have been way worse, you know, like the situation could have gone - and there are still people even with me with my teeth dangling from my mouth, being in that circumstance, I'm still in a better circumstance than a lot of other people who don't have any food, who don't have any shelter, who don't have any clothes, who don't have any support. They're being trafficked by like human trafficking like all that kind of crazy stuff. Even when I have to go out and raise - I had to raise 7 million bucks for deals last month, and now I don't have to raise 7 million bucks. I get to raise 7 million bucks; that's a pretty awesome problem to have. And I think just putting it in that perspective of shifting your 'I-have-to' to 'I get to', will really make you more gratuitous or have more gratitude for life. James: Was it because of your parents or do you think because you just had some event in your life that you think now I have to change my time or it's just how you have been? Tim: That's a good question. My mom as always been very positive. My mom as always been, hey, you have something else to compare it to. Compare it to this, compare it to that. And I think that's probably what planted the seed of always looking at it from, "Yeah. You're right. I guess it could be way worse, right?" It could have been totally different circumstance. She always used to say, "Hey, if that's your biggest problem today, you've got a pretty good life, Tim." When I was growing up: "Ma, I don't know what I'm gonna do like my basketball just popped." "If that's your biggest problem today, it's a pretty good problem to have." You know, you're safe. You're secure, you're healthy, you have a family, you've got people who love you, you've got food with food on the table and clothes on your back and a roof over your head. Like all those kinds of things like you put in perspective. There's people dealing with a lot worse things. And yeah, I think my mom kind of rooted that into me maybe early on and it definitely stuck and man, I just show gratitude. Especially once you have kids, you know, and you realize man like all I want is their safety and their security and their healthiness and their happiness and as long as they're happy and I'm happy. That kind of a thing that's really amplified it over the past four years. I have a four-year-old and a two-year-old now. And so just putting things into in the perspective that way has been a big deal. James: Awesome. Awesome. Is there one proud moment in your life that you think you will be remembering it for your entire life? Tim: That's a good question, James. You've got some good questions there, buddy. James: I want you to think and answer. Tim: Yeah, you know, I mean, is there one... James: One proud moment that at the end of your life, you're going to say that I'm really, really proud that I did that and it's going to be you know. Tim: Yeah, I don't know if it's one specific moment, but maybe just like kind of how I live my life. I try to do it on a daily basis and maybe it's not something profound. Maybe it's not something that's like one specific thing that was a catalyst. You know, I'm driving to the office today to come and talk to you and some dude cuts me off. Maybe he's got some priorities or something going on. I don't know what other people are going through, you know and for me to judge or get pissed off because somebody cut me off, why would I do that? I'll tell you if there's a really proud moment, once my kids grow up to be decent human beings, you know, and making sure that I want to live my life as an example of what an exceptional life can look like. So I want people to be like, hey, if Tim Brax, some kid from a blue-collar family in a blue-collar town, outside of Cleveland, Ohio can build up a big portfolio and still maintain good health and still maintain positivity and still maintain great relationships with his wife and with his children, with his friends and still engage and and maybe not be balanced but have harmony in his life, like if this guy can do it, I know I could do it. If I can inspire people, whether that be one moment in time by a Facebook post or an event that I host or being on a podcast, if I can inspire people to just be their best which is what I have on my wall here and that's not 'do' that's 'be' you know, that's like consumed that all together. It doesn't have to be the best. It would be your best. There's always gonna be somebody more capable, more resources, more whatever. You know, I don't think it's healthy to compare yourself to other people but to compare yourself to yourself and making sure that you're advancing on a daily, weekly, monthly and annual basis is a big deal. And so, I think I just try to make my kids proud, make my mom proud, make my wife proud, make my friends proud. Inspire other people and I try to do it more in the daily activity versus just do it one time and look at that one moment. I try to give back and try to - like I had suites to the Cavs games when LeBron was here in Cleveland. All right, and so when was that, two years year to go? Two years ago, I think. No, it was last year, I think. And so last year, I had a suite to the Cavs. I got the entire series for the first series. I figured who they're playing, but essentially when you buy a suite, you get it for the entire series, however many games they play at home and they played four games at home. And so, you know the first game I went to, I brought some business partners and was able to pay for the suite that way. And then, the second game I brought some family and the third game, I'm like, hey, I was excited to go but like I'm not as excited as I was maybe the first or second time and I'm like somebody else deserves this more than I do because I've already had this experience right? Like, how can I pay this forward? And so I posted on social media, "I got a suite to the Cavs game. I have 18 tickets that I can give away, a couple of parking passes. It's stocked with food and drinks and whatever you guys want. Like does anybody know of a family or a few families that I can give these tickets to that maybe wouldn't have this experience on their own but really deserve because of how good of a people that they are?" And man, like it got so much momentum and got so many shares and then the news picked it up and came and did a story on it. And I had about 5-600 applications that came through for people nominating other people to get tickets to this Cav suite. And so, it was actually really hard to break it down and essentially I found four or five families. I think five families that four tickets a piece that I gave the tickets to. And it was pretty easy to narrow it down to like 25 because I wanted somebody who had maybe faced adversity, overcame the diversity and then found a way to pay it forward; not just overcoming it but actually paying it forward and creating a difference. So, you know, there was one girl whose sister died of an accidental overdose of drugs and now, this girl who's still alive, her younger sister goes around and speaks at different schools about opioid problems and drug problems and how to overcome that and different resources to plug into for that, you know. And so I'm like, wow, this girl, at the age of 16 years old is making an impact on the world; like she deserves some tickets. There was another gentleman who lost his daughter to a congenital heart defect. She was 3 years old, you know and loses his daughter to this congenital heart defect. And instead of like, I mean, I can only imagine how dark of a place he must have been in and he ends up opening up a nonprofit organization to help families with other kids with congenital heart defects to give them the support and help and the conversations and everything and making a massive impact up here in Cleveland, Ohio. This guy is such a good guy. I give him the tickets and he gives them to one of the people that are in his nonprofit, you know. And it's like, man, these people are just amazing individuals. And so I found five awesome families like that, that we were able to give the tickets to and like doing stuff like that really makes me feel good. And what's even better is that there were 500 people who I was able to create a catalyst by doing this who now, 500 people are thinking in a positive way about people who make a positive impact on their life. And just that positive ripple effect that's created, I think is really, really powerful and it was really, really cool to see. James: Yeah. When I talk to you, I get very inspired because it's not about the portfolio of real estate or [49:17unintelligible] rights, it's how you look at life and how you look at things. How you think positive and that's the most important when I look at a person. Tim: Yeah. And you do an awesome job with it, man. I mean, you realize that it's not the portfolio, it's not the money that's noble. It's what you can do with the money that's noble and utilizing it for good. I could afford a really expensive fancy exotic car and I drive a $20,000 Jeep just because I don't really care. I know that there's a bigger impact I can make by being a better steward of my Capital, putting it in more deals or paying it forward in ways like that. So I get more fulfillment from that than from maybe driving something fancy. James: Yeah, even for me, I can't really imagine driving exotic car because, do I really need it? Tim: At the end of the day, it'd be cool. I'd rather just go and rent one. I know I'd have buyer's remorse. I just know myself personally and I know that as soon as I bought it I'd be like, I don't really need this. And here's the thing. I like watches. I like clocks. I like taking nice vacations. I like traveling first class. I like that kind of stuff. I like making memories and traveling the world; I love all that. So that's where I get my drive from on making a lot of money. For other people, they like fancy cars, they like fancy houses; that's okay. I got a good buddy, man, he drives a Rolls-Royce and has multiple hundred-thousand-dollar watches, you know. But I know he doesn't do it for flashed and to impress other people. He does it because when he looks down at his watch and when he gets in his car, he always sits back and he's like, "Man, I had to overcome some adversity, I had to go through some shit in order to get this watch. In order to be able to afford this car. And I've had to grow as an individual, as a person and make an impact on enough other people's lives, positively, that then the universe came back and gave me enough money to be able to afford this car and afford this watch." And so, I think it depends on perspective and that's how you look at it. Like I have nothing against people who have fancy nice things, material type things. Because I know he's one of the most giving people that I've ever met as well and so it's perspective. James: Yeah, it's perspective. Yeah, awesome, Tim. So why don't you tell our audience how to get hold of you? Tim: Yeah. I mean, I'm pretty active on social media; you can find me on Facebook Tim Bratz. I run my own Facebook account, you know, it's not somebody else running it. I do some education stuff on how to get involved in apartments and things but hit me up with a message there if you're looking for formal education. I give a lot of away a lot of free content, a lot of free insight and I try to provide a lot of value on social media and stuff so just connect with me on Facebook. That's gonna be the best way and, yeah, man, James, I appreciate all the value that you give and all the value that you create and all the content that you put out there and, man, you're creating the ripple effect yourself on making a positive impact on people's lives. So appreciate you too, brother. James: Yeah, absolutely. Absolutely. Thanks for coming on the show. It was really a very inspiring show. I'm sure for me and for my listeners and everybody's going to be enjoying it. Tim: Appreciate it, brother. Thank you so much. James: All right. Bye.
How do As, Bs, and Cs distinguish themselves from one another? Price? Returns? Exits? Join Pat and learn once again why Mara Poling thinks B Class assets are the "Goldilocks" class of multifamily real estate.
Thanks for checking out Next 10th and our Weekly Auto News Podcast! We cover the important news, updates and stories in the auto industry. Our episodes come out every Monday at 12 PM EST. This week's episode covers everything taking place from 8/19/19 to 8/25/19. Podcast Reference Links: General Industry/Community Myers Manx Steve McQueen Dune Buggy going to Auction Colorado implements zero emissions requirements Major Manufacturer’s ignore Trump’s Emission Rollbacks Manufacturer Aston Martin James Bond’s Aston DB5 sells for $6.3 Million - Audi The Audi RS6 Avant is coming to America Bentley 1931 Bentley 8 Liter wins Best in Show BMW BMW dealers now offering light up kidney grilles Bugatti Bugatti Centodieci costs $9 million Chevy Official pricing released for 2020 Corvette New Corvette can reach 194 MPH More powerful C8 Corvettes are coming Dodge 2020 Ram 1500 Ecodiesel Pricing Announced Drako Drako GTE debuts at Monterey Ferrari Ferrari to expand its lineup of GT cars Ford/Lincoln Lincoln reduces Navigator to 3 trims, starts at $77k Ford issues second seat belt recall Lincoln Continental production to end in 2021 Europe isn’t getting the 2020 Shelby GT500 Honda Honda releases pricing on Refreshed 2020 Civic Hatchback Koenigsegg Koenigsegg hires designer behind the Bugatti Chiron Lamborghini Aventador SVJ 63 Roadster McLaren Mclaren F1 HDK sells for $19.8 Million Next car in Ultimate Series will be a roadster Mercedes A Class and B Class get Plug In Hybrid in Europe Nissan/Infiniti Infiniti making Coupe Like Crossover, called QX55 Porsche 1939 Porsche Type 64 Auction Fail Porsche Taycan and Apple Car Play Rolls Royce Pebble Beach 2019 Collection released during Monterey Subaru 2020 WRX and BRZ get price bump Tesla Rental firm backs out of Tesla deal due to quality issues Volvo Volvo to add two more SUVs to their lineup Care by Volvo to be investigated by California DMV VW VW CEO apparently interested in Tesla Stake Racing Dario Franchitti returning to Racing at Goodwood Revival Dale Jr’s Plane Crashes
Mark your calendar for the Northstar Real Estate Conference, September 20-21, 2019. Enter discount code “DEX” to get $100 off your ticket: https://www.eventbrite.com/e/northstar-real-estate- conference-tickets-60289848560?aff=Todd1 Connect with Pillars Of Wealth Creation on Facebook: https://www.facebook.com/PillarsofWealthCreation/ Subscribe to our email list at www.pillarsofwealthcreation.com Subscribe to our YouTube channel: https://www.youtube.com/channel/UCkg8HggkdPAuBaAQySJSEQQ John Stiles is a licensed MN real estate agent with Bridge Realty. To learn more, check out John’s website: www.RealEstateStiles.com You can also find John on YouTube: www.youtube.com/channel/UCgLtahYDXP8T-fEFJfBqHww
Property management is the glue that makes your investment stick together. But it’s a tough job. GRE’s own John Collins has done management consulting on a project of 159 single-family rental homes. Problems he encountered: 30% pay rent late or not at all Arson Unassigned parking spaces Domestic violence Abandoned car Condensation Pets and pests “Jerry Springer Show” in leasing office Unwanted boyfriend that wouldn’t leave Syringes found in home Daylight coming in through baseboard Upgrading tenants from C-Class to B-Class. Raising the rent attracted better tenants. With just a $3 monthly rent increase per unit at a 6% cap rate, the project value increases $100,000. We break down the math. What gets measured gets improved. Maintenance issues occur with a property about quarterly. Practicing “tactical empathy”. To contact John, e-mail info@getricheducation.com with “For John Collins” in the subject line. __________________ Want more wealth? 1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book 2) Your actionable turnkey real estate investing opportunity: GREturnkey.com 3) Read my best-selling paperback: getbook.at/7moneymyths __________________ Resources mentioned: Contact John Collins via e-mail: info@getricheducation.com Mortgage Loans: RidgeLendingGroup.com Turnkey Real Estate: NoradaRealEstate.com QRP: TotalControlFinancial.com JWB New Construction Turnkey: NewConstructionTurnkey.com Our Tampa Real Estate Field Trip: RealEstateFieldTrip.com Best Financial Education: GetRichEducation.com Find Properties: GREturnkey.com Follow us on Instagram: @getricheducation Keith’s personal Instagram: @keithweinhold
The five millionth Mercedes-Benz compact vehicle “Made in Rastatt” since production of the first A-Class began back in 1997 has rolled off the production line at Mercedes-Benz’s Rastatt plant. This marks a historic production milestone for the A- and B-Class and the GLA at the Mercedes-Benz plant in Rastatt.
Chris is the CEO & Co-Founder of what3words – a global address system which names every 3m square in the world with a unique 3-word address. Some of their backers include Intel, Mercedes (Daimler), Sony, Deutsche Bahn, SAIC Motor Corp, Aramex, Horizons Ventures, & Alpine Electronics. Daimler acquired a 10 percent stake in the London startup last year and built it into the navigation systems of its newest A-Class and B-Class cars and Sprinter commercial vehicles.Discover more details here.Some of the highlights from the episode:Working on their mission to change the way 7 billion people talk about addresses.The most interesting case studies: emergency services in the UK and the National Postal Service in MongoliaHow they got into Mercedes and Ford navigation systemsUser Cases in logistics – UPS has calculated that for every mile a driver wastes, it costs $50 million per year.Savings between 20% and 40% can be knocked off if couriers would not be going to the wrong addressTalking about the company’s culture: “To work at what3words you have to believe that creating a new global standard in the form of three words is a wonderful thing. Because of this belief, you are really keen to evangelize it with every opportunity.”How the invention of the wheeled suitcase is similar to what3wordsFollow us on:Instagram: http://bit.ly/2Wba8v7Twitter: http://bit.ly/2WeulzXLinkedin: http://bit.ly/2w9YSQXFacebook: http://bit.ly/2HtryLd
In this 5th episode of the Profitable Powerhouse Properties with the AHI Group, hosts Jonathan Cook and Bryan Jenkins from the AHI Group discuss the differences between A-Class, B-Class, and C-Class properties, renovations situations, the benefits of HOA, the often-forgotten issues with gutters, and the importance of diversifying your portfolio. Episode Highlights: What is a good general range for C-Class nicely rehabbed properties Why are the majority of the properties that AHI Group manages A-Class and B-Class What are the differences between B-Class and C-Class properties How often is Bryan getting 1% on a B-Class property Jonathan and Bryan discuss gutter What are some nightmares that can occur with gutter issues Which problems are property owners responsible for Why are the benefits of owning B-Class and C-Class properties over an A-Class What are the long-term gains for a property that appears to be breaking even It doesn’t only matter what you invest in a home, it is also about the market pull What are the benefits of an HOA What is involved in paying HOA dues Curb appeal’s value is more than just marketing for your property Have good partners and systems in place 3 Key Points: C-Class properties in the areas of AHI Group are typically $70,000-100,000 B-Class properties are the sweet spot for equity gain and monthly cash flow. Statistically, maintenance numbers for C-Class are higher than a B-Class, which is higher than an A-Class. Tweetable Quotes: “One of the things that we focus on within our management portfolio is diversifying that.” – Bryan Jenkins “What we were doing was we were buying A-Class properties to do lease-backs to corporations and fully furnish those and provide lawn service, chemicals and maid service.”– Bryan Jenkins pppwithahigroup.podbean.com “An HOA means you have a governing body in charge of your neighborhood.” – Bryan Jenkins Resources Mentioned: Check out our website ahiproperties.com Twitter: @ahiproperties Facebook: AHI Properties Linkedin: AHI Properties
Dental avulsion is the complete displacement of a toothfrom its socket in alveolar bone owing to trauma. The treatment for permanent teeth consists of replantation, immediately if possible. Deciduous teeth should not be replanted due to the risk of damaging the permanenttooth germ. Best Dental Clinic Near To Me | Dental Clinic Near To Me . Nelivigi Dental Clinic have the expertise and infrastructure to do complex dental and maxillofacial surgeries which only a handful of Best Dental hospitals in Bangalore can offer. We have state-of-the-art Operation Theatre for dental surgeries equipped with Laminar Flow and High sterility HEPA filters. The Operation Theatre is of International Standards. Sterilization protocols followed here are noteworthy. We have best in industry, B Class autoclave with which we sterilize ALL instruments which are used not only in surgery but even for a simple dental examination. Best Dental Clinic Near To Me | Dental Clinic Near To Me, at Nelivigi Dental Clinic we make sure of proper sterilization comparable with the best sterilization practices in the world that essentially need to be adhered to.
City of Greensboro Interim Division Manager Mark Wayman consults with Code Enforcement Officer Terri Buchanan. DAVID FORD/WFDD This week, we’ve been reporting on the aftermath of a tragic fire that spread through a low-rent Greensboro apartment earlier this year, killing five young refugee siblings. Their family was placed there by a resettlement agency tasked with finding safe, affordable housing for new North Carolinians. But as the number of low-cost rentals has dwindled here, safe and affordable is becoming increasingly rare. For this chapter of our series "Unsafe Haven," WFDD’s David Ford surveys the Gate City’s response to a housing crisis that’s been years in the making. “We Can’t Afford To Be Biased” Code enforcement officer for the city of Greensboro Terri Buchanan is following up on repairs that she requested a landlord make to a small, two-bedroom rental house. That’s how it works: a tenant files a complaint with the city, and if warranted, they send out people like Buchanan to inspect. Even though this property owner lives out of town, Buchanan says he’s been extremely responsive. He’s gone above and beyond in resolving the roughly dozen or so code violations that needed to be addressed, the only conflicts arising when contractors he’s hired have cut corners, and they’re easily resolved. City code enforcement officer Terri Buchanan inspects recently installed replacement siding used to cover an entry point for rodents. DAVID FORD/WFDD Other landlords, she says, consistently fail to meet even minimum standards. “We have to be so careful, and we can’t afford to be biased with someone. We can’t afford to let our emotions or our opinions enter in and we don’t," says Buchanan. “That’s one of our strong points as a team. We may grumble amongst ourselves, but we cannot let those opinions enter into the inspection and the process.” Buchanan acknowledges that this even-handed approach can be frustrating, particularly for the affordable housing advocates, and thousands of low-income renters throughout the city of Greensboro who want bad actors held accountable. But Buchanan contends that the city’s reasoning is sound. “I think that’s been an asset to everybody and eventually helps get landlords back on track if they’ve lost their way, without really pointing fingers at anybody,” she says. But there are many who argue it doesn’t work. Case in point? The Summit-Cone apartment complex near the intersection of Summit Avenue and Cone Boulevard. City inspectors came to investigate living conditions in the sprawling 42-unit complex following the deadly fire there, and after several tenant complaints surfaced in a petition. While there, code enforcement officers discovered 466 code violations. It’s the second time in five years this property has been condemned, so how does it keep happening? "A Tool In Our Toolbox" To find out about one contributing factor, we have to rewind the clock, when state laws changed that made it more difficult for the city to prevent the abuses from happening in the first place. Specifically, the Rental Unit Certificate of Occupancy (RUCO). Mayor Nancy Vaughan says RUCO was groundbreaking in holding more landlords accountable, and it served as a model for other cities. “We were able to go in and do proactive inspections of units before people rented them,” says Vaughan. “And then the legislature took that away not only from Greensboro, who pioneered that legislation, but from the entire state which took away one of the tools in our toolbox.” So, by 2012 RUCO was no more. Brett Byerly with the Greensboro Housing Coalition laments the loss as well, but admits the program also ruffled feathers. City nuisance contractor Bruce Glass (far) boards up a missing window on a condemned rental in East Greensboro. DAVID FORD/WFDD “Philosophically, a lot of it had to do with real estate lobbies feeling like they were being pushed on too hard and overregulated,” says Byerly. “And I get it. Maybe one of the weaknesses of RUCO was that it was an across-the-board inspection program. "So, we’re spending a lot of time inspecting what investors refer to as A and B Class properties. And A and B class properties by definition don’t generally need to be inspected, because the people living in A and B Class properties, if their owner landlord is not taking care of the property, they leave.” Byerly says that, meanwhile, people in C Class properties, without $1,500 in their pocket for a deposit plus the first month’s rent, have no ability to vote with their feet. They’re stuck. With RUCO gone, city code inspectors were invited to investigate properties only after receiving complaints from residents, or petitions—as was the case at Summit-Cone. After inspections, problems are identified to the owners who are then given two months or more to correct them. If no action is taken, the building can be condemned as a last resort, followed by civil penalties and fines levied to further entice them to comply. If the owners still don’t make repairs, it can be pricey, with escalating reinspection fees eventually totaling $400 per unit, per month. And the last resort: demolition. “Are We Doing Enough?” When buildings are condemned, people can’t live in them. That just makes the dearth of affordable housing even worse, says City Councilman Justin Outling. “The fact is there are 26,000 households in our community where people are not able to afford the price they pay for housing.” With regard to making up the affordable housing gap, City Councilman Justin Outling says, "We have to go really far, really fast." DAVID FORD/WFDD That’s why, after negotiations with housing advocates and real estate officials, the city passed a $25 million bond referendum to support more affordable housing. That’s helping to fund a 176-unit apartment community in East Greensboro called Cottage Grove. It’s being refurbished with a $400,000 investment from the city for energy efficient upgrades. Then in October, the City Council passed a new housing ordinance. Outling says it will target substandard properties, like the Summit-Cone apartments. “That property was in compliance as of 2016,” says Outling. “We know now, 2018, a mere two years later, it’s woefully out of compliance. This revision to the housing ordinance will help address situations like that one to ensure that properties stay in compliance for a longer period of time.” Outling says, that unlike RUCO, this ordinance allows the city to inspect all units of an apartment complex where just one serious threat to safety was found. It also gives them permission to follow up with multiple, rollover inspections there over the course of one year without having to start back at the beginning: scheduling, notifications, hearings, and demolitions. “Are we doing enough?” asks Outling. “The answer is, ‘No, but we’re making tremendous progress.’ If you want to go fast, you go alone. If you want to go far, you go together. On this topic, we have to go really far, really fast.” Construction at Cottage Grove seems to be moving along at a good clip, with a move-in date scheduled for some time this spring. Story does not include AP content #greensboro #affordable housing #code inspectors #rental unit certificate of occupancy #ruco #ordinance #bond referendum #unsafe haven #real estate lobbies #greensboro housing coalition Health & Safety Politics & Government Normal Tweet
Connect with Pillars Of Wealth Creation on Facebook: https://www.facebook.com/PillarsofWealthCreation/ Subscribe to our email list at www.pillarsofwealthcreation.com Subscribe to our YouTube channel: https://www.youtube.com/channel/UCkg8HggkdPAuBaAQySJSEQQ John Stiles is a licensed MN real estate agent with Bridge Realty. To learn more, check out John’s website: www.RealEstateStiles.com You can also find John on YouTube: www.youtube.com/channel/UCgLtahYDXP8T-fEFJfBqHww
The new Mercedes-Benz B-Class puts the emphasis on sport with the Sports Tourer. It looks more dynamic than its predecessor and is more agile on the road while offering greater comfort. Its avant-garde interior makes for a unique feeling of space with the distinctive design of the instrument panel. One of the special features is a basic volume, which drops away towards the occupants and has cutouts in the area of the driver and front passenger.
On today's show, I talk about Elon in deep (and hot) water, Mercedes working on what they call the "B-Class", and Hyundai finally unveiling the I30 N Fastback! Support my Lego Project here!: My Lego Gear Shifter Visit my Podcast on iTunes: https://itunes.apple.com/us/podcast/codys-car-conundrum/id1226702458 Purchase my Car Tshirt merch at: https://tinyurl.com/y8tjl3jw Stay up to date by visiting my website: http://www.codyscarconundrum.com/
The focus of Mercedes-Benz Cars at this year’s Paris Motor Show (4 to 14 October) will be not only on the motor show premiere of the battery-electric Mercedes-Benz EQC, but also on the world premieres of the GLE and B-Class. Also making its first public appearance is an all-new entry-level model from the world of Driving Performance, the Mercedes-AMG A 35 4MATIC. The new six-cylinder GT 43 4MATIC+ 4-Door Coupé rounds off the offering from Mercedes-AMG at the show.
Investing in Real Estate with Clayton Morris | Investing for Beginners
There’s nothing I love more than building my portfolio around C class properties. C class properties produce the highest return on investment, and are largely untouched by economic downturn. However, recently I’ve started implementing a new strategy—adding a few B class properties to my portfolio. On this episode of Investing in Real Estate, I’ll share why you might want to consider purchasing some B class rental properties. I’ll talk about equity, ROI, and the appreciation you can expect to receive. I’ll also share the secret that wealthy people know about owning real estate! Don’t miss episode 327! Book a call with our team: https://goo.gl/dezwHT Show notes: http://morrisinvest.com/episode327
The two biggest issues multifamily owners face are turnover and resident satisfaction. If a property is not at full occupancy, your bottom line takes a significant hit. How can you address both of these issues and create a community in your apartments that makes residents want to stay, even if the rents go up? Pete Kelly is the CEO of Apartment Life, a faith-based nonprofit motivated by a commitment to building relationships and community. Apartment Life serves the multifamily industry, redefining the resident experience in order to increase retention, improve tenant satisfaction, and enhance the community's online reputation. Pete sits down with me to share his background in the nonprofit world, explaining the basics of Apartment Life as an organization. He discusses the research around loneliness and public health, customer engagement and brand loyalty, and the economic impact of the CARES Program. Pete offers the specifics of what the CARES and Workforce Housing teams do to engage residents and how the faith-based roots of the organization impact their mission. Listen in for Pete's insight on building a community that is good for the human soul AND the bottom line. Key Takeaways Pete's background in the nonprofit world 24 years with organization serving young people Two years as CEO of Apartment Life The fundamentals of Apartment Life Relationships good for soul AND bottom line Friendships increase chances of staying Team hosts events, creates ‘sticky community' The research around loneliness and public health 26% more likely to die if feel lonely As bad as smoking, obesity The business research around connection and engagement Emotionally connected customer 52% more valuable Spend more money more often, loyal to brand How friendships affect a resident's willingness to stay Seven friends in complex = twice as likely to renew Neighbors themselves are amenity The financial benefits of the CARES Program $138K annual value to owner 3 renewals/month What the Apartment Life teams do Usually husband/wife team that lives on-site Events to connect residents Opportunities to care (e.g.: baby gift, ride to airport) Visit tenants 90 days before lease renewal Build positive online presence for community The cost of the CARES Program for owners Provide 2BR/2BA unit for CARES Team Management fee of $650 to Apartment Life Budget for events ($2/door) Best for A/B Class properties, at least 250-units The alternative Workforce Housing Program Class C properties in lower income communities Team lives off-site, paid hourly Manages requirements for LIHTC The faith-based element of Apartment Life ‘Love thy neighbor' Recruit teams from local churches Follow Fair Housing Act guidelines The mission of Apartment Life Dramatic impact on residents' lives Connect with Pete Apartment Life Email petekelly@apartmentlife.org Resources ‘Why Loneliness May Be the Next Big Public-Health Issue' in Time ‘Loneliness and Social Isolation as Risk Factors for Mortality' in Perspectives on Psychological Science ‘The New Science of Customer Emotions' in Harvard Business Review CARES Program Financial Impact Analysis Low-Income Housing Tax Credit Guidelines Fair Housing Act Financial Freedom Summit Partner with Michael Invest with Michael Michael's Course Free eBook: The Secret to Raising Money to Buy Your First Apartment Building Review the Podcast on iTunes
Hey guys I’m about to get naked here… I am personally making a shift in my portfolio to MFH syndications and wanted to see if you could help me find a buyer for my stabilized 10 property 1.2M portfolio.. 10 B Class properties in Birmingham/Atlanta/Indy (rents $900+/month)I have selected a few potential turnkey rental sellers, however, I wanted to leverage my network and see if we can cut the broker commissions out of it. I’ll give you details on how you can get the P&L for the past few years on every property but first...A few PSAs.National Save for Retirement Week: October 15 – 21, 2017Scam emails to get information from more and more wholesalersInsurance want 5% deductibleMy story - bought a couple of rentals in Seattle and 1031 exchange those to 10 SFH essentially turnkey rentals out of state in Atlanta, Birmingham, Indianapolis.The other day I asked the question on BP… did not get much of a response since BP is a platform for newbies or active investors who flip or wholesale homes. SPC is a platform with secret Facebook groups of profession W2 employees with some cash and little time on their hands.https://www.biggerpockets.com/forums/223/topics/481347-crossover-point-for-turnkey-rentals-vs-syndication-as-a-passiveAs I talked a few podcasts ago of a 10k repair, and multiple other headaches, my attitude for these SFHs are changing. Its kind of funny talking to the many of you that are setting up calls to get on the Hui Deal Pipeline Club to getting sent the deals I come across:https://simplepassivecashflow.activehosted.com/f/3Please go through the first 20 podcasts in early 2016 and love the story of this SFH buyer but then they are like WTF you are turning on us like a villain going to MFH."Find me an investor who has 50 SFHs and I will show you an investor who was invested under a rock and stoned himself to death with said rock" -ArchimedesAfter over a few hundred investor consultants over the past couple years here is what I tell W2 employees. For those who are able to save more than $30k a year or have substantial liquidity (over 200k), being a landlord and especially flipping is a lot of work. If you like it cool... but just remember why we got into this... To be free from a JOB. Directly investing in a turnkey rental or small MFH is a good way to start to learn and build up the war chest to go into my scaleable investments such as private placement syndications. Whatever you do, try to be as close to the investment as possible. This is the fundamental problem I have with Wall Street who takes too much fees off the hard working efforts of the middle class.The straw that broke the camels back...One of my Atlanta properties went over a changeover, tenant went MIA, went through process to evict - always start the time clock. Armed sheriff had to go and remove items on the street, dead cats were found, $5000 just to remove items, concern over the property could have been condemned. I got Proserve out of Atlanta to go in with radiation suits to clean it up, got a bill for $27K, wtf, some of the scope items were a little ridiculous like 500 dollars for gutters, 5000 for paint, and siding etc. I had them re-estimate it to give me the "dude I'm not a rich idiot price and got it lowered to 20K.There is no such thing as turnkey. Check out these disaster photos… https://photos.app.goo.gl/R4PZLuOLGHONO5Rl2Tony Robbins says “Things don't happen to you but for you.”This was a sign from above which many of you guys hear from me that I sort of believe in. I was already mentally making the shift to making the move. Going down the quote from the repair company it was clear that a lot of the scope items were a bit excessive and the pricing was inflated. This was to be expected, for example paint on rooms that did not really need painting for $5000 or new gutters cleaning for $500.If you want to see this document. Please leave me an iTunes review or send me an email referral to a friend and i'll send it over. Lane@SimplePassiveCashflow.comStages of trauma… denial, anger, sadness, motivation.What I know now I am able to now only make a high yield but a fraction of the effort. None of this screwing around sending docs to my lender in the evenings for a couple months to get one dinky SFH to cash flow a couple hundred dollars a month then do it all over again 20-50 times… then to have it all taken away with a large capex or turnover repair.Tony Robbins says “You destiny is shaped in your decisions.”We waste so much time making decisions. A lot of people myself included get shiny object syndrome when really its an excuse.This was my hero moment or burning of the boats moment to leave the security of a few thousand of passive cashflow a month to go liquid for a while. Hopefully Amazon will announce that Atlanta will be the new second HQ on their quest for world domination.One drawback about selling is about repaying a lot of depreciation recapture and capital gains going back all the way from 2009. As you remember I traded my two Seattle properties for the majority of these rentals via a 1031 exchange. This is why I am not a fan of a 1031 exchange no matter what you hear on a surface level on other podcasts. Another reason to keep listening and please do me a favor and share it with friends because we go deep on this stuff because I’m learning everyday. I’ll repeat I don’t like 1031 exchanges because many of us are going to graduate in large syndications and that is not a like kind exchange. Executing a 1031 most likely means you are going into a lukewarm deal and lose all your negotiation power as a buyer. But i'll expand on this at a later date.Picture of my back of envelope tax hitI want to be very clear… If you are not an accredited investor, sophisticated, or have a large sum of liquify... single family homes is the starting point for you. Too many call me with lofty goals and have list of pro’s/con’s of MFH vs SFH, but you need to know the basics before you screw up the big stuff. You have to pay your dues. Set that barrier to entry lower because most people won’t do anything.That said for a limited time I invite you listeners to make offers on my portfolio of SFHs “Lane’s Pac-10”. List price is 1.2M right about 1% Rent-to-Value Ratio (More info -http://simplepassivecashflow.com/podcast-3-rent-to-value-ratio/). Will need you to make sure you sign up for my Hui Deal Pipeline Club:https://simplepassivecashflow.activehosted.com/f/3I figure it was only fair if I showed you my naked photos… I mean P&Ls that you take a few minutes to complete a form with your investor profile on.And if you are listening to this after 2017 and would like to see how frequency of rental checks, vacancy, late payments, repairs, cap ex across all my properties please leave me an iTunes review or send me an email referral to a friend and i'll send it over.Lane@SimplePassiveCashflow.comMastermind Club: If you or someone you refer invests at least $50K into one of my future deals you will be invited to my exclusive Ali'i Mastermind with other 12-20 other serious investors to discuss deals and our own portfolios.Check out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund 2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club 3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube 4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane 5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across. 6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k 7) Please leave a review for the podcast! 8) Coaching Program to get you to your first rental in 90 days! 9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course: 10) Summary of every Simple Passive Cashflow Podcast See acast.com/privacy for privacy and opt-out information.
Tim Herron is a grandmaster level shooter in USPSA and has won the Missouri State Championship 4 times in a row. He also has won his division (Single Stack) at 3 Area Championships. Time has been shooting since 2010 and struggled in B Class for many years until he learned how to practice. Before getting into shooting, he competed in SCCA which is racing stock cars. Tim is a mechanic by trade and also has a passion for bourbon and fine cigars. Tim was part of Team SIG from 2014-2016 and now shoots for Federal Premium and Atlas Gunworks. Tim is also a guest host on the “Practical Pistol Show” with Ben Stoeger and Matt Hopkins. Links mentioned on the show: https://www.federalpremium.com/ http://atlasgunworks.com/ And don't forget you can connect with Firearms Nation or just stop by and say hi on these social media links: Facebook www.facebook.com/firearmsnation Twitter twitter.com/Firearms_Nation YouTube http://www.youtube.com/c/firearmsnation Instagram http://www.instagram.com/firearms_nation Or on the web at: www.firearmsnation.com JOIN THE NATION!
Investing in Real Estate with Clayton Morris | Investing for Beginners
There’s nothing I love more than building my portfolio around C class properties. C class properties produce the highest return on investment, and are largely untouched by economic downturn. However, recently I’ve started implementing a new strategy—adding a few B class properties to my portfolio. On this episode of Investing in Real Estate, I’ll share why you might want to consider purchasing some B class rental properties. I’ll talk about equity, ROI, and the appreciation you can expect to receive. I’ll also share the secret that wealthy people know abut owning real estate! Don’t miss episode 153! “Investing in Real Estate has a laser focus on buy and hold rental properties in order to create passive income. Clayton shares tried and true methods for acquiring rental real estate, building net worth, and accelerating your financial freedom. This podcast utilizes expert interviews, case studies with normal everyday investors, and Clayton's own methods for achieving passive income. Learn how to acquire turnkey rentals, discounted properties, passive income and true legacy wealth!” - Clayton Morris
今日のネタ ・ヤマハ AVレシーバー 5.1ch/ネットワーク対応/4K対応/Bluetooth内蔵 ブラック RX-V481(B) ・YAMAHA シリーズスペシャルサイト ・iOS版Lightroomがアップデート … 続きを読む 072 Smartの代車はB Classだった
This episode Shannon talks about moving up from B Class in USPSA. The Olympics, pressure on the athletes and how it relates to his shooting career. Also he recaps his experience at the recent USPSA Production and Carry Optics National Championships.
Как в концептуальном, так и в технологическом плане новое поколение B-Класса ознаменовало собой новую эпоху автомобилей компакт-класса Mercedes-Benz. Было решено подвергнуть данный бестселлер обширному рестайлингу, сделать B-Класс ещё более благородным как снаружи, так и внутри, а также предложить его в новых привлекательных линиях исполнения.
Volvo is repositioning itself as a brand designed around you. Mercedes offers a peek at the new B-Class ahead of its Frankfurt debut. Honda is the only other automaker in North America to have a wind tunnel, but it decides to keep mum. All that and more, plus a look at Autoline This Week with Cindy Estrada from the UAW.
http://feedproxy.google.com/~r/TrentPhotoVideos/~3/kWz98rvC-eo/nikki-b-class-of-2012.htmlmrtrent@pontotoc.net (Trent Baker)0noTrent BakerSenior,2012http://mrtrentblog.blogspot.com/2011/06/nikki-b-class-of-2012.html
Cerberus is going to recoup close to 90% of its investment in Chrysler by selling the automakers finance arm. Honda successfully completed the first flight test of its small business airplane called the HondaJet. Trainees at the Mercedes-Benz plant in Rastatt, Germany have assembled a one-off B-Class with a 5.5-liter V-8 between the front fenders. All that and more, plus a look at how Lotus is making a comeback.
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