Podcasts about First Steps

Dance and sing along with the Irish & Celtic Music Podcast. Conor Caldwell, The Jig Is Up!, Muireann Nic Amhlaoibh, Ellen Gibling, Des Wade, Slainte, Spirited Lads, Celtic Wood and Wires, Pauline Scanlon, The Fire, Gillian Boucher & Bob McNeill, Barleyjuice, Tuatha de Danann, The Pikeys, Doolin', Brad Tuck I hope you enjoyed this week's show. If you Heard a song, tune or artist that you loved, I'd like you to share this episode and tag the artist on social either on your page or in a Celtic group you're a part of. Include the show time so they can quickly listen and enjoy. The Irish & Celtic Music Podcast is here to build our diverse Celtic community and help the incredible artists who so generously share their music with you. Musicians rely on your support so they can keep creating new music. If music in this show inspired you, you can buy their CDs, digital downloads, shirts, pins, and other merch. You can follow them on streaming and see their shows. More and more Celtic musicians are on Patreon, just like this podcast. And of course, I always appreciate it when you drop artists an email to let them know you heard them on the Irish and Celtic Music Podcast. How would you like Celtic music news in your inbox? The Irish & Celtic Music Magazine is a quick and easy way to plug yourself into more great Celtic culture. Subscribe and get 34 Celtic MP3s for Free. THIS WEEK IN CELTIC MUSIC 0:06 - Conor Caldwell “Bunting MS 6 No.14” from To Belfast… 3:31 - WELCOME 4:34 - The Jig Is Up! “Lonesome Road to Dingle  -  Star Above the Garter  -  Newmarket Polka” from First Steps 8:10 - Muireann Nic Amhlaoibh “Slan le Maigh” from daybreak: fainne an lae 11:40 - Ellen Gibling “Hop Jigs: Cucanandy/ Coleman's/ The Boys of Ballisodare” from The Bend in the Light 16:17 - Des Wade “The Sign of the Claddagh” from The Book of My Days 19:52 - FEEDBACK 22:05 - Slainte “Lark in the Morning  -  The Atholl Highlanders” from Cup of Tea 26:13 - Spirited Lads “Joe Batts Arm Longliners” from Tall Tales and Fond Farewells 30:28 - Celtic Wood and Wires “High Road to Linton” from Close the Back Door 32:30 - Pauline Scanlon “The Lover's Ghost” from Gossamer 36:28 - The Fire “The Duchess of Hamilton” from Marigold 40:38 - Gillian Boucher & Bob McNeill “Emily Bay” from Race for the Sun 45:33 - THANKS 47:10 - Barleyjuice “Crackin' Jenny's Teacup” from The Old Speakeasy 49:20 - Tuatha de Danann “The Dream One Dreamt” from In Nomine Éireann 53:42 - The Pikeys “The Briar and the Sword” from The Sons of War & Whisky 57:45 - Doolin' “Famine” from Doolin' 1:00:39 - CLOSING 1:03:10 - Brad Tuck “It's Alright” from The Rocky Isle The Irish & Celtic Music Podcast was edited by Mitchell Petersen with Graphics by Miranda Nelson Designs. The show was produced by Marc Gunn, The Celtfather. Subscribe through your favorite podcatcher or on our website where you can become a Patron of the Podcast for as little as $1 per episode. Promote Celtic culture through music at http://celticmusicpodcast.com/. WELCOME TO CELTIC MUSIC * Helping you celebrate Celtic culture through music. I am Marc Gunn. I'm a musician and podcaster. I share my love of Irish and Celtic music from around the globe with you. I want to introduce you to some amazing Celtic bands and musicians. The artists in this show need your support which you can do by buying their music or telling a friend about the band you found. You can find a link to all of the artists, along with show times and chapters for each song when you visit our website at celticmusicpodcast.com. You can also support this podcast on Patreon. There's a new episode of Pub Songs & Stories. I do a countdown of the Top 20 Celtic Bands of 2021. I also play a few tracks from some of those top bands. You can subscribe and listen at pubsong.com. VOTE IN THE CELTIC TOP 20 FOR 2022 This is our way of finding the best songs and artists each year. You can vote for as many songs and tunes that inspire you in each episode. Your vote helps me create next year's Best Celtic music of 2022 episode. But it also helps me populate a new playlist on Spotify. Every week, I am adding new tracks to the playlist, which started off featuring many of the Best Celtic Songs and Tunes of 2021. Last week, I added House of Hamill and Muireann Nic Amhlaoibh to that list. They had the top voted songs from the first episode of the year. Follow and Listen on Spotify. Now just because they received lots of initial votes does NOT mean they will be a part of the Celtic Top 20. You can still vote for your favorite tracks for another couple weeks. So get those votes in ASAP. Then go vote for your favorites in THIS show. You do need to be a Patron of the Podcast. But you can Vote Right Now on Patreon! It's really easy to do. It's a simple poll. Just click it. THANK YOU PATRONS OF THE PODCAST! Because of Your kind and generous support, this show comes out nearly every week. Your generosity funds the creation, promotion and production of the show. It allows us to attract new listeners and to help our community grow. As a patron, you hear episodes before regular listeners and you can vote in the Celtic Top 20. You can pledge a dollar or more per episode and cap how much you want to spend each month over on Patreon. You can also get music - only episodes and free MP3s when you become a Song Henger. Thanks to Kirsten and Paul Crowley who raised their pledges last month. You can become a generous Patron of the Podcast on Patreon at SongHenge.com. TRAVEL WITH CELTIC INVASION VACATIONS Every year, I take a small group of Celtic music fans on the relaxing adventure of a lifetime. We don't see everything. Instead, we stay in one area. We get to know the region through its culture, history, and legends. You can join us with an auditory and visual adventure through podcasts and videos. Learn more about the invasion at http://celticinvasion.com/ #celticmusic #irishmusic #celticmusicpodcast I WANT YOUR FEEDBACK What are you doing today while listening to the podcast? You can send a written comment along with a picture of what you're doing while listening. Email a voicemail message to celticpodcast@gmail.com Bonnie Menard messaged on Facebook: "I am listening to your podcast from New Hampshire in USA. I just started to listen to it on Iheart radio while I work and I want you to know that I enjoy listening." Alina Larson responded to a post on facebook: "I love The Fire! I've gotta get back into listening to podcasts  -  I've really enjoyed the selection of music you play & have found out about a bunch of great bands through this podcast." Thurman Burnley commented on Apple Podcasts: “I discovered your podcast about a year after you started it and have enjoyed each and every episode. I come from Irish, English, and Scottish stock so Celtic music speaks to my soul. I listen to it everywhere I go and with everything I do, out loud. When people ask me what I'm listening to, I happily tell them all about your many podcasts. You have made my life better with the Irish & Celtic Music Podcast and I am forever grateful. Thank you”

So you want to move abroad - what next? Hear Kristin's advice for her relocation clients in this Zoom coaching session on taking the first steps in relocating to another country.  Resources: Apply for the Ready to Relocate private coaching program Get International Travel Medical or Health Insurance Show Notes: NEW: Leave a review on BadassDigitalNomads.com Related Podcasts:  How to Live Abroad in Spain  Do You Need a Digital Nomad Visa?  10 Mistakes to Avoid When Moving Abroad How to Become a Digital Nomad in 2022 Related Videos:  Estonia Digital Nomad Visa Understanding Travel in the Schengen Zone Digital Nomad Visas Explained ........................................................................................... Connect with Kristin:  Follow on Instagram Subscribe to Traveling with Kristin on YouTube  Subscribe to Digital Nomad TV on YouTube Join the Badass Digital Nomads Facebook Group ........................................................................................... Support the Badass Digital Nomads Podcast: Thank you to Sandra B for the 3 coffees! ☕️ Buy Me a Coffee Become a Patron Leave a 5* Review: https://lovethepodcast.com/digitalnomad  Buy Official Merch  Search All Episodes: www.badassdigitalnomads.com ........................................................................................... A special thank you to Kristin's Patrons: Walt, Shawn, Richard Y, Heather, Karen, Kiran, Scott, Michael J, Isaac, Mike M, Yasmine, Erick M, Yohji, Ron, Gary, Annie, Henry L, Keith, Stephen, Warren, James, Daniel, Gary B, Emily, Rich, Phil, Anthony, Jennifer, Kathleen, Natalie, Dave B, Brian, Christopher, CJ, David G, Mike R, Chip, Shelly, Ron, Paul, Andy, Jeffrey, Paulo, Stephen, Michelle, DJ, Mark D, Francis, and Dave M.  Special welcome to our newest Patrons from December 2021 and January 2022: Francis, Dave M., and DJ (welcome back!) ❤️ Become a Patron for $5/month at Patreon.com/travelingwithkristin ........................................................................................... Podcast descriptions may contain affiliate links of products and services we use and recommend at no additional cost to you. 

“I want to start investing in real estate, what's the best first step?” I get asked this question quite a bit and how I answer people has changed over time.  What I've come to realize is that there is no one perfect best step. The key is to simply commit to investing and get started doing something. What might that be?  https://passiveincomemd.com/podcast91/ 

Reading a selection which begins, One of the first steps toward peace... from my book, Fresh Peace: Daily Blossoming of the Soul. My new book, Fragrance After Rain, and all my books, are available online at booksellers worldwide, in both hardcover and softcover. Thank you for posting your copies on Instagram, tagging #jaiyajohn, encouraging others to purchase, posting readings of your favorite passages, and sharing online book reviews. My whole heart cries Grateful. jaiyajohn.com...   Support the show (https://www.paypal.com/paypalme/jaiyajohn)

I get asked frequently, how do I heal from this? How do you ever get over it? How do you move forward? Will I ever trust again? Can I have a healthy relationship? These are excellent questions and they go through the minds of many victims of covert narcissistic abuse. The journey is tortuously painful and can seem completely unending. It feels like it will simply last forever. Not only is there no end in sight, there isn't even a simple path going forward. If I do this, if I do that, if I go this way, if I go that way. Nothing feels right. Nothing will work. The despair inside the victim of covert narcissism is real! It is deep, overwhelming and suffocating. The day that your eyes first see this abuse was life-changing. That moment of realization that reality is not what you thought. That maybe, just maybe, this isn't actually your fault. That first hint of realization. This is commonly followed quickly by glimpses of the realization that you also cannot fix this. These glimpses come in and out of awareness in the beginning stages of recognition. But once you start seeing it, you can't unsee it. Once you start knowing it, you can't unknow it. But now what do you do? How do you move forward when you feel frozen in fear and uncertainty? --- Support this podcast: https://anchor.fm/covertnarcissism/support

NASA's first rover on Mars was a cute little bundle of robotic joy. Many thought it was likely to fail. Instead, Sojourner revolutionized how we explore Mars, and marked the start of 25 years of Mars rover adventures.

NASA's first rover on Mars was a cute little bundle of robotic joy. Many thought it was likely to fail. Instead, Sojourner revolutionized how we explore Mars, and marked the start of 25 years of Mars rover adventures.

You're in a bad place--you're not happy with your health & fitness--and you want to change that. What do you do? Matt & Niki explore your first steps for strength. This time of year New Years Resolutions occur, and there's nothing wrong with them. While they may have a low success rate, it's actually a good time of year to begin working toward a goal.  You just had the holiday period, with--probably--lots of food and fun. It often is a time you can reflect on what you've done the previous year and decide how to change. Also, there are probably no urgent needs to perform (no beach body vacations). This means that you have time to work toward your goals to see the improvement come warmer weather. It will be difficult, and one of the most important things to begin is to be consistent. Doing something every day is a great way to build the consistency. If you're barbell training, you can do this every day, but the days you don't you could walk or do something else active.  Regardless, you need to schedule the time and protect it. This needs to become a habit--like brushing your teeth. You WILL see some benefits early, as doing difficult things makes you feel good, build confidence. It doesn't feel good in the pleasure followed by bad feelings & guild of fast food or lounging watching Netflix, but you just feel better knowing what you did.  Start today, build consistency, do SOMETHING--whatever that something is--and keep going. The small wins will accumulate.    GET STARTED with one-on-one online coaching FOR FREE! Get your FIRST MONTH FREE on all strength and nutrition coaching plans.  No discount code needed and includes a 10-day, no obligation trial.  https://bit.ly/2MKeOoh Special offers from BLOC and our partners:  https://barbell-logic.com/offers/ Connect with the hosts Matt on Instagram Niki on Instagram Connect with the show Barbell Logic on Instagram Podcast Webpage Barbell Logic on Facebook Or email podcast@barbell-logic.com

Car, Gwyn, and Ode talk about what altars are for, what kind of altars you can build, how you might go about building one, and how to be respectful of nature in outdoor altar spaces.

Cindy Grant sits down with First Steps board member Johanne McInnis to talk about the organization's impact in the community and what they need to keep the doors open serving young, pregnant women in the port city.

Brie Schmidt acquired her First Investment Property in 2011 and left the Corporate World in 2014 when she became a Full Time Real Estate Investor. Brie is the Managing Broker of Second City Real Estate, a Full Service Brokerage Working with new Investors and Seasoned Investors Looking to Expand their Knowledge of the Industry and their Portfolio. In this episode we talked about: Brie's First Steps in Real Estate Switching to Real Estate on a full-time basis 2021 Portfolio Review Capital Deployment The Difference Between Chicago and Milwaukee Property The Active Investment Strategy  Property Management 1031 Exchanges Regulatory Environment from the Landlord-Tenant Prospective Mentorship, Resources and Lessons Learned Useful links: http://www.secondcity-re.com/agent/brie/ Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Hey, my name is Jesper galley and you're listening to working capital the real estate podcast. We have a special guest today that is Brie Schmidt. Brie acquired her first investment property in 2011 and left the corporate world in 2014.   When she became a full-time real estate investor is the managing broker of second city real estate, a full service brokerage working with new investors and seasoned investors, looking to expand their knowledge of the industry and their portfolio. I had the special pleasure of being on a panel with Bree in new Orleans at the bigger pockets conference. Bree, how are you doing I'm   Brie (54s): Dan. Great. Thanks. How are you?   Jesse (56s): I'm doing fantastic. Well, I appreciate you coming on the show. I thought just, you know, we were talking before the show. I think it would be really interesting to have you on because we talked a lot, but you know, across that panel and I think it would be a treat for listeners to talk not just about multiple larger units when it comes to multi residential, but to talk about the mid and lower size units or smaller size units and kind of approach it from the perspective of the kind of unique markets that you're in. So maybe to kick us off, why don't you give us a little bit of a, of a background for yourself, for listeners, how you got into real estate?   Brie (1m 35s): So I always say I used to be a normal person. I used to have like a normal job and normal, you know, grind go to the grind kind of goals in life. So I used to work in advertising sales. I used to work in business development and advertising sales never really saw myself doing anything different. You know, it was really had aspirations of being a female CEO one day. So I live in the Chicago market, which we were talking about before show is a somewhat unique market, as far as housing stock.   There's very few cities in this country that have a large portion of two to four unit multi-units. So depending on the neighborhood in Chicago, it can be between 50 and 70% of our housing stock is two to four unit properties. And they're generally about a hundred thousand dollars, less than a single family home. So at the time I was think I was just getting engaged and my fiance and I were talking about, and you're like, what are our life plans? They're like, well, we want to, we want to buy a single family house, but like, we don't need, we don't need that sort of space right now.   So that was our plan was we bought a three unit property. We did a quote-unquote house hack, you know, standard FHA loan. And our plan was, you know, at some point we would need more space. We could, you know, take out a wall, move a staircase. Now we took up two of the three floors. And then at some other point we'll need the other space. We'll just, you know, get and take out a wall and move a staircase. And we'll eventually just take this house and convert it to a single family home. So that was our hundred, like end all be all goal with real estate investing. About three months after we bought the property, my father was diagnosed with a very aggressive form of cancer and he passed away a few months later.   And the thing is the day before he was supposed to retire is when he passed away and we already planned his retirement party and it now became his wake. And it really resonated with me as, because I would just think back of all the things my dad would say, like, when I retire, I'm going to go do this. When I retire, we're going to go to Thailand. You know, I'll retire after you get married or I'll retire when your brother had finished his PhD. And like, he always had all these dreams and goals that he never got to see because he never took action on it.   So here I am, 28 years old, you know, working 60 hours a week, traveling all over the country for somewhere else. And I'm like, this sucks. You know, like this is a terrible life. I've got, you know, 30 plus years till retirement. And I'm going to be in the same position as my dad. You know, I've always wanted to go to Italy. I've always wanted to go do these things and I've done nothing with them because I was too focused on work. So it really changed my perspective on life and decided to reorientate things.   And that's how I got into real estate investing. So you'll, you'll figure out, you know, I just go, I'm a bull in a China shop kind of person. So within the, we bought our first property in 2011, we bought another property in 2012. We did it again in 2013, that 2013 property was a renovation property. We bought like a 1960s house and completely renovated it, you know, pulled cash out. And that is when I found a website called BiggerPockets, which I'm sure you know about.   And it completely changed everything that I was doing. I had never talked with another investor. I had never read a book about investing. I was just kinda, you know, winging it. And it opened up this whole new world of possibilities. So we were sitting on a decent chunk of cash and now I had all these possibilities in front of me and opportunities to learn. So we went full forward ahead. So we looked at other markets to invest in while I love, love, love Chicago.   It's not really a cashflow based market. It's more of a balanced, you know, similar, not as expensive as California, but you know, similar sort of market, New York as well. You're just not going to be retiring off cashflow here. So I, I took some time. I looked at Milwaukee, Kansas city, Indianapolis spent some time in those markets, learning those markets and we decided to invest in Milwaukee. So for you guys that don't know it's about an hour and a half drive, so it's a, you know, easily commutable distance.   So in, let's see, 2015, we bought 10 properties and then 2016, I bought another eight. And then I had partners. I worked with that. I bought another 10 in 2016. So we went quite all in and fast growth trajectory on our acquisitions in those markets. So that's kind of my, and then I started a brokerage firm here in Chicago that was started in 2014. We are the largest boutique brokerage firm working with investors in the Chicago and market. And then I also do the Midwest real estate networking conference where the largest conference in the Midwest for real estate investors.   So everything, when I say I used to be a normal person with normal hobbies, that's what I mean. Like I used to be able to small talk and chit chat about sports or shopping. And now my whole life has become real estate, which is fantastic, but it's all I want to talk about. Cause it's all that meal. It's fun for me. So it was taken over my life in a very, very good way.   Jesse (6m 56s): Yeah. Well the, the energy didn't go out and I noticed when we were, we were at the conference and it's, that's great to hear it. When, when you made that transition, I'm always curious because it's not a dissimilar story where we have guests on that had a quote unquote, normal life or normal job, normal, whatever. And then they move into real estate investing. What, at what point in that kind of, you know, 20 11, 20 12 was the point where you said, okay, let's go in full time and, you know, get, you know, not, not continue to pursue the, the day job.   Brie (7m 26s): So it wasn't like a, it wasn't a pre-planned conscious decision. To be honest, the plan always was I was making great, you know, I had a great salary. I actually loved what I did. I had spent nine years building up my career. I did, it was not something that I wanted to walk away from. So the plan was never for me to leave my job and do real estate full time. Real estate was always going to be a hobby on the side. So it was when we were looking at doing our first set of properties in Milwaukee, that I started to realize like one day it was like, well, I always wanted to make sure that my real estate investing never got in the way of my day job.   And then one day woke up and realized that my day job was getting in the way of my real estate investing show. But I'll tell you this story. I used to travel a lot for work. And we were at the airport, it was a 6:00 AM flight to Atlanta. So it was like five 15 in the morning. I'm staying at the airport with my boss who just had a baby. She was like, I don't know, baby was like four months old. So we were flying down to Atlanta and then we had to get a car and rent a car to go to Columbus, Georgia, which was like a two hour drive for a two hour meeting.   And then drive back to Atlanta to take an airport plane ride home because she had to get home. She had a newborn and I remember sitting in the airport with her at like five 15 in the morning. It's like the butt crack of Dawn. And I get a travel alert on my phone. Like, so when it comes to travel, like Istanbul has been like my number one bucket list place. And there was a flight alert. It was like 400 bucks to go to Istanbul and I'm staring at us and I'm like, oh my God, I'm going to go to Istanbul. And she's like, what one? I'm like, I don't know, there's 400 bucks. Like I'm going to go whatever. And she started going through, like, this was April.   She starts going through my calendar while you can't go this month. Cause you've got this and then you've got this. And then like at the end, she's like by October, like, yeah, you can take a long weekend. And I was like, screw this. Like, this is not the life that I want. Like if I want to go to Istanbul, I want to go to Istanbul. So between it was around the same time that we were mid acquisition with our properties. Like I said, we were buying five properties. I remember calling my commercial lender and being like, Hey, if I quit my job, is that going to affect my ability to acquire more properties?   And as soon as you said, no, I was like, great. I'm giving my notice. And that was it. So it was like a two week, like, Hey, is this gonna, are we going to completely blow ourselves up by doing this? Or no? And the answer was no. So we just did it. I just did it.   Jesse (9m 51s): Yeah. I feel like the, there is this point where people, especially like yourself that have a job that has a good income. There's a beginning stage when you're investing where it is an asset. Obviously the W2 income, T4 in Canada, where, you know, lenders are looking at that. But you do get to a certain point where the assets are become more important than you as the individual. Did you experience?   Brie (10m 14s): Yeah, exactly. But if it wasn't, we were already past the point of doing residential loans. We were already well into like the commercial loan process and that was pretty much what we would be doing moving forward. So as if you don't know, as a us and Canada might be different, you know, those are two very different processes. So it was important for me to know that the commercial under that we were working with, I said, I've done, you know, 23 loans with him. You know, they, they were very strong as far as like backing me personally and financially, as long as he was okay with it, I was ready to go.   So I said like, this was probably mid April. I left my job at, and by the end of June, I was, I quit and done diminish doing real estate full-time ever since.   Jesse (10m 60s): Right on. So what take us up to 2021? What, what does the portfolio look like?   Brie (11m 5s): It's less so, yeah, I've actually sold, I didn't sell anything in 2020, but 20 18, 20 19. I sold some properties about half of my portfolio. So this is also a very interesting story. I was at a conference, very similar, like the bigger pockets conference we were at new Orleans. And I remember the first session, the first morning was an economist. I was actually in Philly with Dave Vanhorn's conference. So this economist is on stage. And he's saying a lot of big words. I don't know, you know, yield curves.   And I don't know, I'm writing things down. Like I should Google that later. So at the end of the conference, the, there was a charity event and the economist had had was the auction off three hours of his time. As for this charity fundraiser. I'm like, this is a perfect opportunity for me to learn, right. What he's talking about. Because while I understand like real estate economics, and while I understand the market economics that I'm in personally, I don't understand on a national or global level, right? How all these other things that are going on are going to affect my market.   That's why I wanted to learn. So I bought his time as part of the auction. And one of the things he did was he wanted to go through my entire portfolio with me five years back, right. Looking at my cashflow, my projections, something that I hadn't done. Like every year I would view my portfolio, right? Like we all do, but I never really like went back and looked at it from a high-level five-year perspective. And he put on all these different calculations and I don't even, I still don't even understand half of them that he did for me. But one of the things that we looked at is what was my three-year average cashflow and my five-year average cashflow, what would I get if I sold the property less than the fees and how does that, that profit relate to annual cashflow?   And I realized quite quickly there was some properties that like, there was just always something, right. There was always something going on with these properties. At the end of the day, if I sold the property, I will be getting like 15 years cashflow up front. I'm like, well, that makes stupid for me to keep these properties. So that has become for the last three years when I'm part of my process is every year I not only review my pre like in my, or what we did and what our numbers were this year.   I also look at my three-year, my five-year. And then since acquisition numbers and reevaluate my portfolio every year, I hire a local realtor in Milwaukee, even though I'm licensed there, I don't, I'm not super active there to do a CMA on my properties. And I rebalance things and I re reallocate things and see, Hey, is this the right? Is it keeping this property, the right thing to do? Or at what point does it make sense for me to sell? So that's, that was a learning experience I took from a med economist. Yeah.   Jesse (13m 54s): Yeah. And it's sometimes it's like, you get that second opinion or you just to get something that, not that you weren't accountable, but kind of high level taking a look at your portfolio. I found a very similar thing happened with me earlier in my career, where there was very similar to you just cap X that would happen. So, so technically your P and L looks good. It looks okay. But really at the end of the day, your cashflow statement is getting hit with these large expenses. And, you know, 1960 would have been a newer pro property. Like one of the first properties we bought was in the early 19 hundreds.   So, you know, stone foundation, knob and tube. And what I was finding was that there were particular properties that were just these cash, like just pits, because you'd just be dumping in. And, you know, even if you average out capital expenditures, if you pick properties that have, you know, a lot of maintenance, you really gotta be careful about how you're smoothing that out over the, the time that you hold. And, you know, sometimes there's an inflection point, whether that's five years in seven years in it's, like you said, it just makes so much more sense to sell it and redeploy somewhere else.   Brie (14m 56s): Absolutely. Yeah. It was a very interesting exercise for me because I always just looked at things. I said, like, I looked at things on an annual basis. I never went back and looked at things from the beginning or the last couple of years and was like, wow, you know, this property is not produce thing. Right. And since I bought it, the values have gone up, like I would make, I had one property. I was going to make like 33 years cashflow I'm like done sell it now. So it's become an interesting exercise.   Jesse (15m 27s): So I want to ask the, the question that so many investors are asking today is w we see it from sellers, but just in general, that number one, you know, where do you, if you do sell a property, where do you even deploy capital? Because the market is so competitive right now, I'm curious, was Chicago, Milwaukee, was this something where you did sell properties in Chicago and then Milwaukee kind of looked like a, a place where you deployed or were you guys doing it at the same time? How did that, how did those two locations come about?   Brie (15m 57s): Yeah. So everything in Chicago, we acquired from 2011 to 2013, and we have not sold any of those properties. Everything in Milwaukee was pretty much 2014 to 2016, and we've sold about half of those properties. And so like, our portfolio was about 31 properties before we started selling anything off. And our newest property was built in 1910. So when you talk about old, like that's just the market, you know, like these, these were older 1890s, 19 hundreds, 19 times are when the properties were generally built.   Jesse (16m 34s): So sorry, the, the property, like the, the move to actually continue investing. When you deploy that capital, wha what are their active investments that you wanted to put them in? Was it, was it the strategy to put it into the properties that you currently have? How did you deal with that once you had that windfall?   Brie (16m 51s): I'll let you know when I figure that out, it's been terrible.   Jesse (16m 56s): Well, we were just talking about this before the show. They're just talking about the inventory issue in all of north America.   Brie (17m 3s): Yeah. I think I'm like, I, this, you know, this may or may not be the right decision, but I really I've gotten this far in my investing career by trusting my gut and nothing. Nothing has been interesting to me since, you know, I've, I've looked at some like multi-family investments, but very few actually piqued my interest, mobile home as well. It's like, I'm dabbling into that stuff, but nothing that's been like, Hey, this, like the doors have opened, I see the light.   This is the path forward. So really put, put the cash in the market and let it sit until I decide what to do with it.   Jesse (17m 43s): Yeah. Fair enough. So, can we talk a little bit, like I said, at the outset, I think investors would get a lot from this, you know, two to five unit world that you live in, especially in these areas. Can you talk a little bit about why an investor would go into say a three, a triplex or a five unit as opposed to 25 30, even if they have the capital to do both   Brie (18m 4s): Same things like for us? Like, so when we, when we went into the Milwaukee market, we bought 18 properties in nine months, 67 units. It was, so we obviously had the capital to buy one big building if we wanted, but chose to do smaller buildings and said for a lot of different reasons, a, like we just talked about, you know, if some of the properties are underperforming, I could sell the ones that are underperforming and keep the ones that are performing without having to sell the entire property as a whole.   So that was part of the reason. And like I said, all of our properties are within like about a mile and a half radius. So it's not completely spread out. Like everything is within less than a 10 minute drive from each other. But one of the main reasons was the properties are like, obviously residential properties are valued differently right. Than commercial. So when I was looking at the, the cap rates and the returns that I could get, they were much higher on two to four unit properties. And they were on these multis. So again, the markets, Chicago and Milwaukee, you know, got the neighborhoods can be between 50 and 70% housing stock, at least two to four unit properties.   They're everywhere you drive down the street. Right? And like half the block is a small apartment buildings. So there's a lot of different options of different inventory. But the thing was when it comes to the small Maltese, at least in my markets, they learned pay is water. Everything else is separate to the tenants, right? So there's no common meters for anything. When you look at insurance, right? I'm getting homeowners insurance that, or my business, you're getting commercial policies. Your insurance rates are much higher than mine.   You generally pay corporate water. I pay residential water. You know, there's, there's like my taxes right. Are different than your taxes. So when I was looking at, you know, up to about, I would say about 20 units that evens out, because when you think about it, if you've got a 15 unit right next to my three unit, and at the same size, same condition, you know, two bedroom apartment, we're getting the same rent, right? Your 15 unit does not offer the amenities like the pool, the, you know, the doorman to increase runs, right? So we're getting the same sort of rent, but your expense ratios are much higher than mine.   So it came out, like I said, once you got to about 20 units, then your expenses ended up being closer to what my expenses were. And then the cap rates even doubt, but like anything on you, it's like Tanya properties. And we see this all the time in Chicago. Cause we get a lot of investors that come to us and say, Hey, you know, we want to get into like these, you know, small midsize. Multi-families like, great, I'll start running some numbers for you, but taking a consideration. I want to show you something else. And I'll show them side by side. Like here's, you know, here's 10 properties that, that are like between 10 and 30 units.   And here's, you know, 10 properties that are two to four unit properties. The cap rate is always higher. So the risk though, is that if the market, the real estate market changes, right, you're subject to comps, not at a Y in the residential world, but financing is also easier as well. We don't have, you know, you can get 30 year fixed on a two to four unit property. You're not getting a five or seven year arm.   Jesse (21m 14s): And in terms of the investors that you typically work with, or even yourself is for the most part, the strategy buy and hold with, with the size   Brie (21m 22s): Of units.   Jesse (21m 25s): And one of the things, you know, you'll hear people say, even at the 20 unit size, in terms of property management, you know, whether, you know, there, you have the economies of scale, how do you handle that?   Brie (21m 36s): It's a great question. So I think it depends on your market, right, Chicago, where at least where I work is more of an AB type market. So even, you know, even clients that I've had that live out of state, a lot of them can self-manage or we have a company here locally. I think they've expanded to, if you go to the markets now called nest egg. So it's not that I got rent, they do all the cart, property management. So like I've been using them since my maintenance, since I was pregnant with my first kid. But like, I don't use them for, I do my own run collection.   I do my own lease ups, but I have that option if I want to, but there's no monthly fee. So, you know, I just had an issue this morning, a tenant reported an issue, you know, it goes through their system, they diagnose it, they take pictures, whatever it is. And then they send me emails saying like, Hey, we think this is going to cost this amount of dollars and this many hours, who do you want to schedule the repair, the tenant, you know, then they call my tenant and they work it out. It's like, I have not been in my properties for repairs and years. And if no one makes a repair requests, I don't get charged anything.   There's no monthly fees. So that sort of product works really well in the Chicago market where, you know, it's not, it's not very high touch, right. Milwaukee on the other hand is more of a C class market is absolutely high-touch. You definitely need full-time property management services, but that's what it was. We grew so quickly said when we came to our, so by the, as after two years, we were at just under a hundred units, that's enough to be important to a property manager.   And in the beginning I had my own in-house team. I tried doing it myself. And it was terrible because you can't have one person. Right. It's what I learned. One of the learning lessons I had, you know, while the, the property manager that I chose was fantastic with my tenants. Right. He lived in the community, he actually owned some of the properties that I bought. My first properties were bought from him, you know, great relationship with the tenants, with service, with service workers, repairs, right. All that was handled, knew nothing about accounting, you know?   And like he would go to him and he'd go deposit like 10 grand in my bank account. And I'd be like, what's the spore? He's like, oh, you know, I've got the receipts in my pocket. I'm like, that's not. So I, like, I still had to do a large portion of the business. So one of the things, you know, property management is a terrible job. I would being a teacher or a property manager, like the two things I would never want to do in life.   But it takes to have a well-rounded property management team requires multiple skills, right. One person can not do it and do it well. So by outsourcing it, you're getting multiple people's positions and skillsets. So that was a life lesson that I learned. I thought I was smart by having my own in-house team. I could control things more. It was 20 times the work. It was terrible.   Jesse (24m 44s): Yeah. I find with property management, the, the companies that have been successful doing it, they, you really have to look at it as a full time full service business, and you need the personalities for that. And I think it was M zero Brian Berger, J Scott, we had on another bigger pockets contributors that I think w their, their point was 70, 75 unit pluses, where, you know, you can, you can afford to have your own super in the building. So like that, you know, even with the property management company, but also having that super in the building, you know, it is at that point where you can scale and you have a point of contact that's in addition to your property management company.   But I'm always curious, because I think, I think in the two to fives, it really is dependent on the market. Like when I got into real estate, I was in student residents. So a lot of them were like these boarding houses that had five tenants, or, you know, five students or eight students where those markets, yeah. You got some people shake the mouse a little, but you also have, what was nice is you actually have this little cottage industry of property management companies, at least back when I was in school that were local, that would manage, you know, houses.   And you had that ability to scale. And like you said, I think you've made a good point there, which I think oftentimes gets overlooked. It's that you're, you're still going to a property management company and still say, Hey, this is 80 units, or this is 40 units. It's just, they're spread out.   Brie (26m 11s): Yeah. It's one of the things I was at, like one of my biggest pieces of advice, when someone tells me, like, I want to invest in Milwaukee, Oregon, or cashflow market. Right. If your plan is to buy a small multi, and then like every year acquire another couple of units, you're going to sink, you know, it's, you're, you're not going to go well for you. So when I was buying our properties in Milwaukee, one of the things I did is after we sold the property, after we bought the property, I call the seller and ask them like, Hey, you know, deals done. Like what, any lessons you can teach me or things I can learn.   The best majority of them were like out of state investors who that was their problem. They only had one or two properties. I remember this one property we bought, we bought it December 1st. The guy told me, he's like, you know, the top unit has been vacant for like three months. We've dropped rent. Like I just can't do it anymore. I'm like, really? Because we bought it, we bought it on a Wednesday. And my property manager posted that night. We had like five showings this week on it. We got it rented out. It's like the property manager can make or break. Absolutely you return. And if you're only, if you've got like three properties or, you know, 10 units with one property manager, you aren't a priority.   The end of the day, I have a hundred units and you have ton. And we both have a vacancy. Gus, who's the priority. It's me. You know, and I don't do it very often, but whenever I have to, if I call my property manager and say, Hey, I need you to stop what you're doing right now and handle this. You better believe they're going to do it. Right. So that's where scale becomes incredibly important.   Jesse (27m 42s): Yeah. And it's nice that there are kind of companies like you mentioned, or even, even locally here where the technology is getting better, where you can actually have, you know, one off properties here and there. I know, not true for Chicago. I know Toronto, we have a huge condo market. Like it basically is our purpose built market. Rental markets are extended, but you know, it's challenging when you only have a few one-offs. Where are you? What do you, what did you think, would you say is the biggest difference between the Chicago and Milwaukee market   Brie (28m 14s): Price point? Number one, you know, Chicago is much more expensive, but again, like each market, whether it be Chicago, Milwaukee, Indianapolis, Kansas city, they all have different, you know, ABC markets. So it just so happens that I got my start in investing in Chicago, which was more of a lead type market. I, my cashflow play is Milwaukee, which is the, I invest in a C class area. You know, I've looked at investing in a, Milwaukee's a B class areas.   And they're very similar returns where I get in Chicago for my air AB class areas here. So it just depends on what your strategy is, you know, at the end of the day. So part of that economist evaluation was also taking into effect or taking into account what my property values were. Right. And what if I were to sell everything, what I would would be at again, like my, my cashflow in Milwaukee per dollar spent is like almost triple what it is in Chicago.   So the end of the day, like, I always assumed like my, my money came from Milwaukee, right? Like it pays my bills at the end of the day. It did it. When you, when you throw in the appreciation I got from Chicago, like that's where I made my money. So I was looking at it again. There's two different strategies. At least I have two different strategies. Chicago is my wealth building. Right. My, my tenants call me once a year. You know, like they're generally very easy. They stay for a few years. It's not a high touch market.   You know, my property is just, I sit and maintain. Right. And then I'll get my money when I sell Milwaukee. On the other hand is the cashflow based market. That's where I bring in my, my monthly paycheck. We'll call it, you know, two totally different strategies. I like having the balance personally, but there's no right or wrong answer. There's no, you know, this is the best option I like having both.   Jesse (30m 12s): Yeah. Yeah. It makes sense. I'm curious. The something that is unavailable to us connects is the 10 31 exchange in the states, the differing of taxes into a likened kind asset for, for any of the listeners that haven't heard us banter about it before, is it, is it applicable to investment properties that are purely residential? Can you use it for you can use it for both. Okay.   Brie (30m 37s): We do again, we do, we do a few times a year, 10 31 exchanges within our brokerage side of the business, but it sucks. I just had one, the, oh, this is terrible situation, terrible. Like, whoa. It was me. The guy sold the million dollar properties, but he was selling, he was selling a property in California, wanted to parlay that funds into Chicago. This was just in like October where our market started to get really slow. Inventory was terrible. He was from the time he was selling, he was then, you know, you've got 45 days and two weeks he was leaving for Germany for a month.   So he's like, listen, you know, we gotta find this property in two weeks. And then we're in Germany. You know, we've got things to do. And it just so happened. Like the day after closing, he called me, like, we actually need to leave for Germany tomorrow. So they were in Germany the whole time. And I was trying to find them a property. But like when we were looking, you know, between like one and 1.5 million, which for a two to four unit property is completely adequate budget for Chicago. We couldn't find anything for him. And he ended up taking the cap, gain tech, but at the end of the day, that's better than buying a bad investment.   Right. So, but it was a, it was a very stressful experience because I'd never met him in person. He was never going to be able to fly to Chicago and see the property. And I had 45 days to put something on a contract for him and try to guess what he wanted and what he would like, you know, like, so it was all like videos and it was just, it's just, it is what it is, but   Jesse (32m 10s): You know, it's our world,   Brie (32m 12s): But is her world   Jesse (32m 14s): Sabrina. I want to talk, but just one more thing before we get to some of the questions we ask every guest, I am just mindful of the time here. We could probably do a, another 45 minutes on just the second half of this story. But before we get there, I'm curious to know the regulatory environment from the landlord tenant board perspective. I have a, you know, we talked a little bit about this before. I have a suspicion that it's very similar to our market, very tenant friendly. How does that compare to Milwaukee?   You know, what's your experience been?   Brie (32m 48s): You could, I don't think you can find two different while California. You can't really find two different markets. And again, they're only an hour and a half drive from each other. So both offers similar returns. I would say, as far as the investment market, but yeah, Chicago has one of the strictest landlord-tenant ordinances in the country. I still invest here. You know, we've got plenty of clients that still invest here. It's really, to me, the landlord tenant ordinance is not, it's not super strict, but you have to know the rules, right. And that's where people get in trouble.   If they don't know the rules, everything is quite reasonable. Right. If you, you know, a general repair, you have 14 days to correct it. That's not an unreasonable request when it comes to like heat, hot water, electricity, like, you know, those sorts of things, you have 48 hours to correct. You know, got not in a reasonable request. It, but our eviction process is beyond terrible. I just had to summer my first eviction ever in Chicago, where, you know, I gave a ton of in 50 days and always I was not renewing his lease.   He started, he understood it. I rented out his unit. Like he let me do showings. And then like the week before it was like, I've got nowhere to go. I'm not leaving. Like, well, that's not really an option. Like I have someone moving in in like five days. So it was what we would consider a hold over tonight, which is still allowed to evict, even though we had the memorandum here, but it took, you know, two months before we even got him served through our court process. Milwaukee on the other hand is very landlord friendly.   I can get, let's see, when I give someone a five day notice the next day I can go and file in court. Typically I get a court date within seven to 10 days. And you go, when you show up to court, they pretty much ask you one question, which is, can you prove the rent you owe to this landlord is not what they say. And they'll start, you know, well, they were a shit landlord and all that. I don't care. She says, you owe this, do you have proof otherwise? And they're like, no, and they'll start ranting. And they're like, okay.   So what do you want to do? They'll go to me like that is, that is the only piece of information that they want to know. Right? They don't, they don't care about the other things. One of the other great things about Milwaukee's market as far as evictions is which we use. It's a tool we use quite often is they have a payment plan process within the court system. So again, a lot of times, you know, they fall behind, right? And they're, they're communicating. It's not like we want to evict them so we can work out a payment plan.   It's a court ordered payment plan. And as soon as they miss one payment, I just go straight to the court, show them document, signed an affidavit, boom. Sheriff comes. So it just there's no, I don't have to go back to court and we don't have to go back to, you know, like starting all of the process over again. It just picks up where we left off. If I were to do a normal eviction. So also a really win-win situation. Right? If they say that they can make these payments and they can get caught up, right. And they do that, then they don't get evicted. But if they fall behind, we have the option of just picking things up and not starting over again.   Milwaukee also has some really great rental assistance programs for tenants that do fall behind as well versus like Chicago. We, you know, we had a ton of apply for rental assistance back in June. I just got it now in December, you know? And luckily if I wasn't so accommodating, right. You know, it was five months of background. Like that's a lot of rent to, to go back, but Milwaukee just moves faster and they are a lot more, there's a lot more options within that market.   Port options or rental assistance options.   Jesse (36m 36s): Does Chicago have rent control?   Brie (36m 38s): No. Okay. Hey.   Jesse (36m 41s): Yeah. The gas. Yeah. W I would have been 50 50 on that. I know it's tenant friendly, but I don't, I didn't know if they went that far.   Brie (36m 52s): So luckily for us, it is part of our state constitution. And once you get out of the state or city of Chicago, it is a very, very red state. So to, to have rent control in Chicago, you have to have this state constitution amended and there's way too many conservatives to allow that to happen. So every year it happened, like every year someone brings it up, right. And every year it goes to the process and every year everyone freaks out about it. And every year it gets stopped quite quickly.   But if it wasn't, if it was up to the actual like cities or counties, we would absolutely have rent control here. But luckily it's on a state level.   Jesse (37m 35s): Yeah. I think if I think Jersey, what is a Jersey, California, New York Mahershala, Washington. I think, I think we're the opposite. If you can find a, like a pretty sure across country, we have some form of rent stabilization. But the big thing for us is that is when we have new tenants, we mark the mark to market the rents. So you kind of reset at market levels, but it's a bit of a different animal. That's great. I, I want to talk or let listeners know where they can go and kind of reach out to you. But before we get there, we've got four questions.   We ask every guest. So if you're ready, I'll, I'll send them over to ya. I agree with something, at least one thing that you know, now in your career, you wish you knew when you first started out,   Brie (38m 17s): Oh gosh, just one thing I can do a whole podcast and all the things, You know, again, I, I'm a big believer in trusting your intuition, right. And figuring out what works for you, what works for me doesn't necessarily work for you. So that takes time. That takes your own learning lessons. But as long as, like you said, I've made obvious mistakes. As long as I was confident in my decision, right. I have no one to blame, but myself and that makes me sleep at night, knowing that like, Hey, this is, this is just a bump in the path and it's going to be a learning lesson down the road.   So my advice would be, you know, really focusing on what you're doing, what your goals are, what your needs are, right. Where, where you can grow personally and then create your own path.   Jesse (39m 10s): Gotcha. Okay. In terms of, if one thing or a few things you could say to new investors, people getting into our industry regarding mentorship, what would that be?   Brie (39m 24s): I'm not a fan of a mentorship thing. You know, I don't think it's a gun. Your mentorship to me is you're, you're learning from someone, but you're trying to replicate what they're doing. Right. And that's not always, right. So I'd like, I get all the time, like, Hey, what, what neighborhoods do you buy in? Cause I want to buy there. I'm like, well, I have haven't I have a Nissan Pathfinder. Do you want to buy my car? Because I have that car. Like, you know, that doesn't mean like what I have my needs and goals are. So it was back to the first thing of, you know, mentorship, you know, isn't, shouldn't be a immediate goal for someone, I think, you know, utilizing sites like bigger pockets, bigger pockets, right?   Learning about your market, listening to podcasts, right? Take a little bit of information from everything that you're hearing and learning and figuring out what works best for you. That's what you need. And then once you're ready, right. Finding a good team, a good agent, right. A good brokerage, good, you know, lenders, lawyers, whatever that will help support you and what your goals are. But you should be the one dictating what your path is. Not someone else telling you what to do.   Jesse (40m 32s): Fair enough. What's a resource or book that you find yourself constantly recommending.   Brie (40m 37s): Oh, getting things done. I love that book. It has completely changed. Like you guys, like not only do I not want a landlord, but I own a brokerage firm. I also plan an event for real estate investors. I'm nine months pregnant and I've got a two year old right there. You know, there's, there's a lot of different things that come at me at different times through the day with so many different moving parts. Right. So having like an organizational prioritizing to do list right.   To, to be effective has really important. So I read the book, maybe I was actually too busy to read the book. So I bought the cliff notes to be perfectly honest, about five years ago. And I went from working, you know, 60 hours a week in my business to probably working 30. I, you know, cut out all the nonsense and really transformed my work-life balance because of that book. Yeah.   Jesse (41m 36s): And I think they've updated. We've had a guest before recommend this and I think they've updated some of the, the concepts. Cause I, I it's, it's like the book for, for like task management and organization. So I think it w I can't remember what the release date, but a lot has changed technologically, but I still love the, how they systematize everything in that book.   Brie (41m 57s): I am so full though. I have to write everything down. Like   Jesse (42m 1s): I remember like the bin you'd have to move things from the bin. Yeah.   Brie (42m 5s): I have to like physically write things down and like physically cross things off of my paper. I can't do like a word, you know, or technology just doesn't work for me. I'm too old.   Jesse (42m 14s): So speaking of Pathfinders, our last question, first car making.   Brie (42m 19s): Oh, Ford Thunderbird. Terrible bomb. Yeah. I was at, it was my dad's car that I bought off him. Right. I'm a terrible driver. Do you understand this? No, I think it was a V6 or a V8, whatever. I crashed it so many times. I'm just a terrible driver. I still am a terrible driver. My husband drives pretty much. He will not, my husband will not let me drive a car if he's in it.   Jesse (42m 48s): I will say this though. It is, it was an upgrade back then from the four tourists, which, which I spent my childhood,   Brie (42m 55s): It was a beast of a car though. You know, I said, I ran over curbs and ran into walls with that card and like never scrape on me, you know, but yeah. Thank you so much for having me on the show.   Jesse (43m 9s): I really appreciate it. If anybody's, you know, in your local area or would like to just reach out to you where, where would be the best place to, to go   Brie (43m 17s): I'm on BiggerPockets almost every single day. Some messaging me on bigger pockets, Brie Schmidt, or you can check out my website. It's a second city spelled out dash R e.com.   Jesse (43m 30s): Okay. We'll send them there. My guest today has been breached brief. Thank you for being part of working   Brie (43m 36s): Capital. Thank you so much.   Jesse (43m 45s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse, for galley. If you liked the episode, head on to iTunes and leave us a five-star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.

This is part of the  Greyscalegorilla Live show that streamed on Oct 14, 2021. In this episode, Nick talked a lot about Greyscalegorilla and his own personal creative journey.  Check it out!Links mentioned in today's show:What's New in Plus - https://greyscalegorilla.com/category/whats-new-in-plus/About Greyscalegorilla - https://greyscalegorilla.com/about-us/Surface Imperfections Tutorials - https://greyscalegorilla.com/surface-imperfections-training/Take System Tutorial - https://greyscalegorilla.com/speed-up-your-workflow-with-the-cinema-4d-take-system/Tokens Tutorial - https://greyscalegorilla.com/cinema-4d-tokens-never-name-a-render-again/Nick & Chad's computer systems - https://greyscalegorilla.com/choosing-puget-a-system-built-for-3d/Greyscalegorilla Merch - https://greyscalegorilla-merch.creator-spring.com/Nick's Creative Mornings Talk - https://creativemornings.com/talks/nick-campbell/2 The Creative Gap: Becoming Better than Most - https://vimeo.com/19428188Nick's NFTs on Showtime - https://showtime.io/nickvegasClick That Button - https://clickthatbutton.com/Nick's First Steps - https://www.behance.net/gallery/22747337/Nicks-First-Steps-2002-2005 CREATE BEAUTIFUL RENDERS IN LESS TIME.Join our growing Plus community and get ALL of our award-winning plugins, materials, and professional training in one place. Join Plus.NEW TO CINEMA 4D?Learn C4D with our free Intro to Cinema 4D Course. LOOKING FOR MORE TRAINING?Check out our free tutorials page.FOLLOW US:WebsiteBlogTwitterInstagramFacebook

In this episode we discuss the limitations of CSS animations, techniques for animating SVGs, and building animation centric websites without JavaScript frameworks.Cassie Evans Home Page Twitter LinkedIn Greensock Home Page GSAP Twitter LinkedIn GitHub Links Codebar Banner Ads AnimationTimeline CSS Transforms WebGL Canvas three.js GSAP + React, First Steps & Handy Techniques GSAP + React, Advanced Animation Techniques Framer Motion React Motion Building an Animated Castle Builder w/ Cassie Evans Chattin' GSAP Helper Functions w/ Cassie Evans FLIP Animations with GSAP! w/ Cassie Evans GreenSock Community Questions with Cassie Evans ★ Support this podcast ★

For the last cast of the year Dee and Ryan discuss all the new rules coming to X-Wing. Dee also has a weird Chris Rock story.

Introduction As the safety of compounding practices comes under renewed scrutiny from authoritative bodies, more attention is being paid to assistive and robotic technologies. Learn how a stepped approach to adopting compounding technology can lead to safer, more efficient, and cost effective compounding operations. Participants Host: Ken Perez, Vice President, Healthcare Policy and Government Affairs, Omnicell, Inc. Guest Expert: Kevin N. Hansen, PharmD, MS, BCPS, BCSCP, Assistant Director of Pharmacy, Moses H. Cone Memorial Hospital Learn more about your ad choices. Visit megaphone.fm/adchoices

Where should you start when it comes to retirement planning? Nathan is here to guide you through the process to make sure you feel confident and ready for the future.   Read more and get additional financial information: https://thefinancialanswer.com/podcasts/retirement-planning-first-steps/   What we discuss today:  2:01 - Decide what you want retirement to look like. 4:55 - Take an inventory. 7:44 - Have an income plan.   9:56 - What is your Social Security withdrawal strategy? 11:22 - Are you working with an advisor?

Shaun Leads the Team at Urbanation, Armed with a Background as an Economist and 15 ears of Experience in Residential Market Analysis. Shaun is a Thought Leader in the Residential Development Industry and his Unique Perspectives on the Market Guide Urbanation's insights, Analytics and Research Strategy   In this episode we talked about:    • Urbanation Background  • Shaun's Bio and First Steps in Real Estate  • Overview of Toronto Condo Market  • Shaun's Thoughts on Purpose-built Rental Housing  • Rent Control  • The Size of Toronto Condo Market  • The Outlook on How Immigration Will Impact the Real Estate  • Inflation and Asset Growth  • Mentorship, Resources and Lessons Learned  • Book or Podcast   Useful links: https://urbanation.ca Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, my name's Jennifer Gallan. You're listening to working capital the real estate podcast. My guest today is Shawn Hildebrand. Sean is the president of urban nation, Inc.   For those that don't know, urban nation was founded in 1981 by Eve Lewis, an industry leader and visionary. That's an emerging market opportunity for high rise condominiums in Toronto at a time when they were considered a niche product, how's it going? I'm doing great, Sean. We we're just chatting a little bit before the podcast and wanted to have you on for a little while for those that don't know urban nation. Maybe you could give a little bit of a background as to what you guys do and kind of how that company has evolved over the years with your involvement.   Shaun (1m 7s): Sure. Yeah. So as you mentioned, Urbanation was founded basically 40 years ago and began actually from Eve Louis's graduate thesis at the time. So condos were sort of a new product in the housing market in Toronto, and, you know, she studied the market, collected all the data and realized that there was a business at that could be formulated out of this research. And over the years, Urbanation continued to collect on a quarterly basis, new condominium apartment market activity by serving directly the developers that were active in the market, putting out our quarterly condo market survey publication.   And eventually over time, as, as technology evolves, moving the data and reporting into an online format. I joined the company almost nine years ago in early 2013. So at that point we were, we were just sort of really launching the full database. So that was kind of my first initiative as I, as I began to take over leadership in the company. And over the years, we've, we've continued to expand that database and the technology behind it.   We've also sort of branched out our research into more than just condominiums, but now tracking what's happening in the purpose-built rental markets. That's been a big focal point for the company over the last number of years is tracking all of the new rentals that are coming into the market, surveying them in the same sort of way that you would survey a new condo project by going directly to the building owner or property manager and collecting data such as vacancy rates and rents and, and producing a separate quarterly reports in conjunction to our previous reporting that was being done on the secondary condo rental market.   So individual condo investors, which has been sort of the biggest supplier of new rentals in Toronto for a number of years, but now we're starting to see, you know, traditional rental development happening. So it's, it's really sort of allowing us to have a more holistic lens of what's happening across real estate development. We've also expanded into tracking the land sale market as well. So through, through research that we do leveraging our relationship with CareNet and using land registry, we track all of the land acquisitions that are occurring.   So again, allows us to, to further expand our reach into the real estate market research area and, and track projects from, from a very early stage. So we, we offer this information for a subscription module. So our, our, our subscribers are very diverse. They include obviously all of the top developers in the region, but also financial institutions, private equity, other types of lenders and suppliers, government organizations, appraisers brokers, and, you know, what, what really drew me to Urbanation when I joined the company, was that it was, it was more than just a data, right?   So previously before I joined the company, I was working as the lead analyst at Canada mortgage housing corporation. And my job was to forecast the Toronto housing markets and provide a market intelligence to senior government officials. And I leveraged Urbanation to a great degree and trying to really try to figure out what was happening in the condo market at the time. This is sort of in the, in the mid to early two thousands. And in the later two thousands, there was a big focus on whether or not we were, we were over supplying the market with, with condos and having ordination was an invaluable resource to be able to really dig into the data and understand what was happening.   And, you know, w what drew me to company was that, again, it was more than just, you know, supplying the industry with levers. It was, it was really kind of putting meaning behind that, that, that, that, that research, and to be able to analyze the data and provide market intelligence that provides guidance and insights as to what's actually going on, you know, across the market. So that's something that we continue to expand. You know, we, we, when we, when we, when we enter into a new area of research, it's not just about supplying the data and the stats it's, you know, what's actually behind these numbers, what's driving them.   And from that, we've, we've really started to evolve our advisory practice. So we, we, we produce custom market feasibility reports for individual sites that developers are looking to bring to market. And over the years that that's become a very large part of our business as well. So we're continuing to expand on all fronts. We're looking into new markets in terms of our geographic expansion. We've been extremely active in sort of the tertiary markets that surrounded GTA within Ontario and very meaningfully within Ottawa on what's been a big part of our expansion recently, as we've been doing a lot of market work in that area and collecting data on every new rental developments.   And we've pumped a project that's active in the market there.   Jesse (6m 27s): Yeah. Fair enough. On the point of CMHC for those that don't know, I guess the equivalent for the states would be a Fannie Mae, Freddie Mac, just kind of an institutional crown corporation, is that I think that's correct. In terms of just on that note, was your background always in real estate? Was it always kind of in the economics of real estate world, or did you come at it from a different angle?   Shaun (6m 51s): Well, I went to school to study economics, both undergraduate and graduate degrees. And when I was doing my master's, you know, I found it to be very theoretical as a lot of graduate programs are. And, you know, I had a hard time really understanding what I was, what I was being taught and, and trying to think about it in practical terms. And, you know, at the time there weren't any, at least within my program, real estate economics classes, but I was really interested in the housing market, which was, which was kind of starting to take off at that point in time.   And I felt that when I applied the economic concepts that I was being taught to, to real estate, it all kind of started to make sense because, you know, all of the, the sort of macro economic theories could be put into practice when you're understanding what's happening in the housing market. And eventually I did my, my, my graduate thesis on the housing market. And from there really started to focus my, my, my career aspirations in, in real estate economics.   And initially I was, I was working in Ottawa for the bank of Canada and the federal government for a little bit of time, and then eventually moved to private consulting in Toronto, and then to see an HC. And then now over the past homeless nine years with termination.   Jesse (8m 16s): Yeah, it's interesting. We've had people on the show before and I call it the Paul Samuelson ization of economics, where you start getting more mathematical and more statistical where you're kind of turning out economy nutritions rather than, than policy a policy makers are employees at companies. I'm curious, you've got a great graph or kind of timeline for anybody that's interested. You can go to urban nation.ca where it basically from the inception of the company to today. So, you know, in 1981 or urban nation launches to today, the global pandemic, but on the way you see such a, such an interesting story of, of condo sales and development in Toronto, for those that don't understand, or, or those that aren't aware of the condo market in Toronto or, or Ontario for that matter, how would you describe it to somebody, you know, looking in from say, another state or another country where their world is housing and purpose-built and condos are kind of a, you know, a smaller piece of, of the market.   Whereas for us, it's, it's all we know in, in large part.   Shaun (9m 24s): Yeah, very, very much. So Toronto is quite unique in the context of north America, where the bulk of, of high-rise development here locally happens within the condo sector, as opposed to the purpose built rental market. In fact, as of the third quarter, we had six times as many condoms, either construction as we did rental apartments, which is usually the inverse when you go to another large market in United States. So the condo market has worked very well in Toronto through, through pre-sales and investment activity.   So the typical course is that a, any project will launch offer their units through the broker channel who typically access investor purchasers, who, who buy very quickly and early on. And that helps fund the construction to be able to proceed with the development and investors have been extremely active in the Toronto market over the last 20 years and continue to be so in today's market, typically we'll sell 20 to 25,000 new condo units.   And then we're going to get in here this year will probably be somewhere around 27, 20 8,000. So it's going to be probably the second highest year on record behind 2017 for new condo sales. And, you know, it's, it's, it's one where we're seeing the market mature. So where as in the past condo development in pre-sale activity was very much focused within the central core of the city. It is now expanding out geographically across the region.   So the greater Toronto area includes the city of Toronto and the sofa in the suburbs that surround it. And for the first time this year, we're actually seeing more new condo sales happening in what we call a nine oh five region of the GTA, the suburban areas of the GTA, then actually within the city proper. And I think this really speaks to the affordability and, and, and, and, and sort of the history of the call, the market and why it's caught fire in that. You know, we, we don't build very many single family homes anymore in the GTA for a number of reasons, which we could probably have a whole podcast on its own, but basically condos are the dominant form of new housing developments in the region.   And as this has happened, single family housing has become scarce even more so during the pandemic, as a lot of buyers look for more space, backyards, larger properties, they weren't commuting as much. So they felt more comfortable buying my larger homes outside of, outside of the core. And the price for single family housing was just skyrocket. And this is something that's unique to Toronto. It's obviously happening across Canada and a lot of markets in the U S as well, but it's created an abnormal divergence between price appreciation and the low rise market and price appreciation in the high rise market.   And it's created this very large gap in pricing between a house and an apartment. One that is, is very, very abnormal. So if you look at the average price of a house right now, it's $1.5 million in the GTA, look at the average price of a condo it's about $700,000 or so. So that, that gap over around 800 grand has never been as large as, as it is right now. And in fact, it's increased by about 50% since the pandemic. So affordability has become an even bigger issue after the pandemic.   And a lot of the trends that I would say that they were seeing pre pandemic have only just accelerated as a result of COVID-19. So, you know, the condo market was harder initially because, you know, people were adverse to buying high rise units located in the core because of, you know, issues around the pandemic. And in the fact that a lot of businesses were closed downtown, you didn't necessarily need to be downtown. And there was probably some health concerns as well with, you know, being a very densely populated areas, but the kind of market has staged and remarkable turnaround.   And now you're starting to see, you know, double digit inflation once again, but that gap still persists. And I think it's one of those things that continues to drive demand for condos, whether they be downtown or whether they be in the suburban markets. And it's been, it's been fascinating to see, you know, how quickly a condo project can pre-sell, whether it's, you know, located at center ice downtown, or whether it's located in a suburb, you know, a hundred kilometers from, from, from the city core in almost every case, the project will sell out extremely quickly and you'll still get quite a lot of investor purchasers, even if the, the development isn't located downtown.   So I think this speaks to how the market has evolved over time and has continued to consistently produce sales volumes that, you know, are meeting or exceeding 20,000 units a year, which is, which is remarkable for us. But, you know, w in the context of the overall housing market, probably not enough to satisfy, you know, population growth is coming into the region.   Jesse (14m 32s): So in terms of the, the market itself, you, you mentioned that we're starting to build more purpose-built purpose-built apartment buildings, and you mentioned Ottawa as you know, one of those areas. I'm curious to get your thoughts. I, I talk with a lot of, a lot of individuals in our industry that are older than I, that have had lived through the eighties and nineties. And we had on the podcast, Richard Epstein, who is a professor of law at NYU. And we did a podcast on the history of rent control and rent stabilization in New York.   And I'm curious if you think that that had an effect on development of purpose-built over the last 20, 30, even 40 years in Ontario, or a few things, there was another, another factor that basically resulted in an over not overdevelopment, but leaning towards condos, as opposed to purpose-built because for those that don't know, the, the stock of purpose-built up until recently has been pretty old stock. And I was always curious if, if it was an actual thing with policy, or if it was more of a cultural thing of, of owning, owning a property rather than renting,   Shaun (15m 41s): I think it's a, it's a combination of things like rent control introduced in the seventies and evolved over time has, has certainly played a role. So capping the amount of increase that can be passed off to a tenant, obviously with strict revenue growth for, for that asset class and makes it economically less attractive to develop new as a result. So that that's, that's one factor, I think for sure, but I think, you know, part of it is the fact that, you know, during, during the mid mid two thousands, I'd say there was a big push from the government to put renters into the home ownership market, right?   This was a way of kind of reviving the economy, reviving the housing market after, you know, a pretty significant slope during the very most of the 1990s. And you saw, you know, things like 40 year amortizations get introduced to 0% down mortgages cash back at closing. I think it was, it was almost, you know, you're, you're almost a fool to, to rent at the time because it was, it was so much easier to get into the housing market and to arrest pepper, to buy than it is than it was to rent. So for a period of time, you saw this massive outflow of, of renters from the existing rental stock into the home ownership market.   And on an annual basis, we were actually losing renters as a population because we were adding so many of you to the ownership market and the home ownership rate is wrong, or just skyrocketed from between, you know, 2001 up until around 2011, 2016. And, you know, there wasn't really command to be building new rental apartments because the demand was all on the ownership side. And that's where kind of condominiums started to really take off because this was around the same time.   And since then the dynamics that started to change somewhat. So as, as, as the housing market has entered into the, you know, the later stages of this purchase cycle and, and housing has become so expensive, it's, it's had a huge impact on affordability. And as a result, homeownership rates have actually started to decline a little, and you're starting to see most of the household growth occurring within Toronto, actually happening within the rental space.   And this has pushed rents up, or at least a decrease in that dynamic to a level that started to make better economic sense to build than to invest in, you know, existing low cap rate buildings that were rent controlled. So, you know, starting, I would say around 20 15, 20 16, we started to notice that, you know, there were requests for market studies that were coming across our desks were starting to shift from condo to purpose-built rental, and you started to get a lot more institutional interests kind of coming into the marketplace.   So developers and, and investment partners looking at Toronto from a longer-term lens than they have in the past. So, you know, it was, it was pretty much entirely common development, presale the units getting move on to the next project. Whereas now it's, you know, how can we, how can we invest into the markets for the longterm and recognize that the population is expanding, we're going to in a, in a, in a, in a rental market that has structurally low vacancy rates at an average, you know, around a 2% for the last 10 to 20 years, we know that the population is going to continue to expand.   We know that whole ownership affordability is going to continue to be restricted for first time buyers. So how do we plan ahead for the future? And so, you know, a lot of the development proposals that are actually coming into the markets, they are for traditional purpose built rental, and we're, we're at a stage now where I think according to our latest report, we had about a hundred thousand units in the proposed pipeline that were expected to be developed as traditional rentals. And I'd say there's probably at least another 50,000 above that, that we've been looking at, haven't actually been officially submitted yet.   So we're building up the supply pipeline for the future. I think the next challenge is actually getting it through the development cycle because, you know, less than 20,000 units are actually in the pipeline and approved for development. So it's, you know, it's, it's, it's tough, you know, the, with, with COVID, you know, the rental market was hit pretty hard, particularly downtown and rents are only starting to come back now in our latest report, we've gotten that rents were up on a year, over year basis for the first time, since the pandemic in the third quarter, but there's still about four or 5% below what those pre COVID highs were.   So I think there's been a lot of uncertainty about, you know, when the market's going to come back, you know, what sort of a rent growth projection should, should we be incorporating into our performance? And, you know, has the outlook changed at all? Or is it even looking stronger because of increased immigration targets? And what's happened to housing prices since COVID-19, so it be interesting, it's interesting times, and, you know, th the development applications that are coming in or are starting to be, you know, more geographically dispersed.   So, you know, traditionally it only really made sense to build rental downtown because you could get $4 a square foot plus rents. But now one of the, one of the trends that we've seen since COVID-19 was that the suburban areas of the GTA were pretty much untouched in terms of the rental markets. And these are low supply markets that had, you know, very little existing purpose-built rental stock to begin with. They were entirely relying on, on Palmdale stock for rentals, which there wasn't that much out as well, because investors were mostly focused downtown then in the suburbs.   And then you saw this infusion of demand as the population began to sort of spread itself out around the region. And rents actually are, you know, higher today than where they were pre COVID vacancy rates are still stuck at around one to 2%. And, and I think developers are starting to notice this and, and, and a lot of development slated for master plan communities around existing shopping centers located on the group of fringe. And, and then I don't buy. And, you know, it's not just a matter of, you know, getting a site and throwing up a tower.   It's, you know, how do we, how do we make a complete community here? How do we make it mixed use near transit, integrated with retail office, other commercial components that can make a new place, a new living environment for, for renters. And it'll be fascinating to see how this evolves over the next 10 to 20 years, because you know, the, the old model of, of renting in Toronto, it's going to dramatically change as we move through the next couple of decades.   Jesse (22m 22s): I got to get your thoughts on the 2018 bill. That was a, I believe it was 2018 bill that was basically buildings built after 2018 were exempt for the most part, I believe from, from rent control, built buildings built prior to that, you know, the stabilization we have in our various provinces, at least for Ontario would stay status quo. Do you think that had a, had a, an effect on, on the, you know, this push to more purpose-built developments?   Shaun (22m 53s): I think so, you know, the, the data did show that after, after November, 2018, we did, we did begin to see a greater inflow of development applications come in for rental. They were building before that, but we did see that pace of, of, of, of, of, of submissions actually accelerate. But I, I think there's, there's probably some level of skepticism w within the development industry, that this policy could change with the change of government, right.   Quite, quite easily, and quick, quickly, particularly in this environment where we're housing it is is, is forefront on political issues. And, you know, if another government takes over the province, you know, we could see that change fast. So I think, I think, I think developers realize that, you know, it could be forced to, to, to, to have rent control units in the builds. And, you know, for the most part, for, for those that we do work with, they don't typically have aggressive rent, growth assumptions.   Like they need to be able to make these numbers work with conservative growth estimates. So they're, they're looking at rents today. They're, you know, they're factoring in a rebound pre COVID numbers in the short term, which is like, which is, I think, a realistic, but also looking at, you know, a historical rate of rent projection that is consistent with what we've been seeing over the last 10 to 15 years, which is, you know, I think we're probably carrying around if we're going to have 4%, which is, which is, I think a conservative given the fact that it won't be long before we're back to, you know, 2% or less vacancy rates across the city.   And our latest data shows that we're, we're pretty much on our way there.   Jesse (24m 42s): So I guess one of the, one of the benefits with the new, I mean, the newer build, even if the policy did reverse, like you're saying whether it's two or 3%, maybe 4% rental growth projections, I think it's just as a in competition or with the backdrop of you can buy an existing apartment building. And it's really the issue. There is the mark to market of rents where you have historically low rents. I'm curious on your thoughts. You know what I mean? These things are completely interwoven in our city, but the, the shadow market or the condo market, there's different names for it, where that these condo owners rent out their space.   And it's kind of, you know, typically mom and pop, I have a couple of condos I rent out and it's kind of taking the place of the apartment buildings. Purpose-built how big of a market is that, you know, like what, from, from your data, w what size of the market would you say that that encapsulates?   Shaun (25m 40s): So what 40% of condos in Toronto are used as, as rental properties, so that that's grown over the years. I think it was 20 to 25%, maybe, maybe 10 to 15 years ago. So it, it tends to rise, but it's, it's rising at a slower pace than it has in the past. It seems like we're kind of reaching a, an equilibrium of around 40%. And I think, you know, it's, it's been, it's been easy for investors to buy units and hold onto them because the economics of doing so and so favorable, right?   You could buy a unit three construction, and you don't have to close on it for four or five years. So you have that timeframe for rents to inflate, to a level that will make the unit cashflow positive. And historically that's always worked out very well. In fact, we did a study on all of the condo units in the GTA at rich completion in 2020. And we looked at what their closing price was. We looked at the rents that they were able to at closing, and we also teamed up with land registry to understand what their mortgage costs were.   So we were able to actually calculate on a unit by unit basis, what, what cash flow actually realized was, and what we found was that most investors still were cash flow positive or cashflow neutral, though. Two thirds of them are, and less than 40% were, were at cashflow negative position. And really it was only investors that were comfortable negative or only those that had remortgaged the unit at closing. So if you closed on the unit at the, at the secure pre-sale price from several years ago, and you also were able to take advantage of interest rates that were on historical lows.   I mean, it was, it was so easy to, to, to just get it out, even at right levels that were somewhat depressed last year, but this all kind of looks backwards at the fact that, you know, investors were closing on units that were bought before the big jump up the condo crisis. So when we looked at the average price per square foot for units that closed in 2020, it was less than $700. So less than $700 a square foot, the average new condo price in the GTA right now is $1,200 a square foot.   And for the units that are going to be closing in, let's say, 20, 24, 20 25, they're going to be closing at a presale price of around $1,300 a square foot. So I was bullish as the next guy on the rental market. I think we'll, we'll, we'll see good rent inflation in the next few years, but that's going to require about 75% growth in rents from where they are right now for investors to continue to be cashflow neutral or cashflow positive in, in, you know, four years time, let's say.   So I think the shadow market is going to change. It may not be as, as, as, as strong as it's been in the past because of the big jump in prices. And the fact that this is going to make it tougher for an investor to hold on to their units. And, you know, investors are generally okay with being cashflow negative so long as the unit continues to appreciate. So if we get into a situation where, you know, the, the cashflow is isn't there, and, you know, the, the price of the unit is appreciating perhaps slowly, there's going to be less of an incentive to hold onto the unit for, for, for as long as they have historically.   So I think this represents an opportunity for the primary market to step up, right? Like you're, you're not going to have as much competition with the secondary market because of the fact that they're going to have to be pushing rents to $6 a square foot by 2025, if they're going to have any chance of making these units cashflow positive and probably higher than that, if we're factoring in some increases in interest rates. So the other thing is that the shadow market, the secondary condo rental market tends to be heavily skewed towards small units, right?   So you've got a small one bedroom units, some studios that are favorable amongst investors because they have a lowest price tag. And historically they're able to generate the greatest rental yields, but the demographics of renters are much more diverse than just having a 500 square foot unit. And this is where purpose-built rental development helps to fill a void. You see that, that, that purpose-built rental projects typically have a larger average suite size and it called the rental window, usually about a hundred, hundred square feet larger, much more, much, much more diverse in terms of its unit mix, some more tubings suites, for instance, that could accommodate, you know, couples, small families, roommate situations, it's, you know, gas sizers.   We're seeing quite a, quite a few of those gravitating towards the rental market. So liquidating the primary residence and using that to help fund retirement and, and actually downsizing into a rental as opposed to purchasing a similar sized condo unit, which would be well over a million dollars in today's marketplace. So I think, you know, purposeful rental is, is, is, is evolving the apartment market in general by, you know, looking more towards the future demographic trends and also from a product standpoint, right?   There's, you know, when you, when you, when you, when you build a building and you're holding it, you have to kind of resell it over time, right. To the next tenant that's been moved in. So there's much more attention that gets paid to the amenities spaces, the Walgreens, the experience of living in the building resident services. So I think you're, you're, you're seeing some in a lot of cases, higher quality buildings coming in. And I know that the developers that are active in today's space are looking quite closely to what's been happening in the us, right?   Like the U S is much more advanced than we are in building new multi-family housing. So, you know, understanding what's worked and what hassles and bringing in professional management and into those new buildings, it's, it's been interesting to see, and it's, I think it's a learning exercise. And even within, you know, a small number of new rentals that are being built, you know, I I'm seeing that product evolve from where it was even just a few years ago.   Jesse (31m 50s): Yeah. I think that's a positive thing. And even on the consumer level or the, you know, the renter, if there's that more certainty that you're not going to get evicted, or that there's a certainty of, of tenancy, as opposed to having a condo where you can be in a precarious situation, I want to switch gears to some of the supply aspects. You mentioned immigration, obviously COVID has had an impact on, on the whole world, Canada, generally speaking, we're pro-immigration country countries built by immigrants in terms of the effect that you think that we'll have in the next few years, given the numbers, being slightly adjusted to where they were a few years ago, but basically your outlook on how immigration will impact real estate.   And if you think that we are, we are, we have enough supply because I know you mentioned 20, 21 would be a record year for condo units, I believe, but, but is there still a supply constraint given the fact that we could have, you know, more population growth?   Shaun (32m 54s): Yeah, for sure. So if you look at the last 12 months for permanent immigrants admissions into Toronto, then it's written back about a hundred thousand, but for the last fall, last of September, 2021. So a lot of this is the conversion of non permanent residents into permanent residence. So a lot of them may already be living here, but the government seems to be very, very focused on continuing to raise those integration targets over the next few years, and as travel returns to more normal levels, you'll actually see that begin to materialize into actual population growth.   So I think that's partly important to understand Toronto typically receives about 35% of all the immigrants that come to a public country. And unfortunately we're not building a pace that's going to be able to satisfy that level of demographic demand. So we've been pretty much stuck at building at a pace of under 40,000 housing units a year for the GTA for the past 20 years.   Housing construction generally across the province has risen in, in, in the last number of months. So it is responding to demand and anticipating future demand, but it's been that growth has been entirely focused outside of the GTA. So it's happening in less supply constrained markets within the province. And in fact, for the first time in a long time, there's more housing being built outside of Toronto in other parts of the province than there is within Toronto. So I think, you know, this is, this is, this is a policy problem that you're introducing higher immigration targets, but you're not necessarily looking towards housing supply to, to accommodate that growth.   And inevitably what happens is that the new immigrants get, get shut out of the Toronto housing market because there just simply isn't any supply. And they begin to move into areas where perhaps there is more supply and that may not be economically the right thing to do because you know, a lot of the immigrant new immigrate immigrants are, are working in, in, in, in, in economic hubs, which are mostly located in central areas of Toronto. So, you know, there's more commuting and that sort of thing that goes on.   So I think, you know, more certainly needs to be done. W we will see a lot of condo completions in 20 20, 22. And you can look at this through, you know, the historical relationship between presale launch launches. And then there's normally a five-year lag between when they actually get delivered a record year in 2017 for launches. So it stands to reason that next year there's going to be a pretty big year for, for condo occupancies. Most of those will be offered for rent still, I believe. So. I think you're going to have, you know, a little bit of an increase in supply to meet that additional demand, but by no means, will we be building a pace that's going to satisfy the, the level of population growth that's going to be coming into the market in the next few years.   So, unfortunately, there's, there's really, isn't much that can be done about this in the interim, because all of the supply that's going to be coming to market, I would say over the next seven years has already been spoken for, we already know how many units are under construction. We already know how many units are approved for development. So we know generally how much supply is going to be coming in, you know, within the next five, seven years. And it simply isn't going to be enough. And if you look at kind of how the dynamics are going to be shifting between ownership and renting, there's going to be an even larger deficit of rental units.   Then we then we've seen in the past. So it won't be long before we're, we're back to 1% vacancy rates and rents that are inflating much, much higher than, than, than, than historical norms. You know, it just, in the first quarter of this year, we were recording vacancy rates in downtown Toronto at 9%, six months later, they were below 4% and another six months they'll probably be below 2%. And this is without immigration, right? This is, this is, this is happening, you know, before that big surge in population happens.   So, you know, what it's going to look like in the next few years is, you know, much of what we were seeing pre COVID, but, you know, amplify to a degree.   Jesse (37m 10s): So we asked four questions at the end of the show with all the guests, but before we get there, I wanted to kind of, you talked a little bit about it, but a prognosticate a little bit about the next few years for development, you know, you touched on rental rental growth. I can assume I can infer from that, that as we have compression of vacancy rates, that rents will go up. Do you see a, a point where, you know, we've seen, at least in, in, in our brokerage, we've seen record prices, record cap rates.   You know, I've said for the last 10 years, interest rates can't get any lower and they continue to get lower. Where do you see if at all that we come up to a wall when it comes to whether it's asset inflation or rental growth?   Shaun (37m 55s): Well, for per housing crisis, I think you're going to see some resistance next year as is inflation numbers. And the communication coming from the central bank made it quite clear that interest going to start to revise it soft point probably early next year. And you know, the market's pricing in at least four moves by Canada. So, you know, given where housing prices are, that's going to have an impact on affordability, for sure. I mean, that's the been one of the biggest drivers of, of the asset inflation that we've been seeing, it's the record, low interest rates. And as those start to normalize, you begin to see some headwinds in terms of that growth.   So whether that happens, you know, the first half of the second half or the early 20, 23, it's hard know because you know what impact that's having on the broader economy. But certainly I think, you know, the narrative is going to shift from one where we're seeing housing prices grow by 20 to 30% to one where they're starting to at least level out, but usually there's, there's trade off there, right? As you see big increases in housing prices inflation, it tends to lead to higher rates of rent inflation.   And we haven't seen it yet, but I think we will see it. But to your point, you know, when you're looking at rental growth in rent inflation, you're constrained by incomes, right? Like there's only so much that a you can afford. And yes, we're seeing higher income, new immigrants coming into the GTA that can afford higher rents. But, you know, even though there's going to be some, some resistance levels, if you look at the average price of a new purpose built rental in the, in the GTA, it's about $2,400 a month. So the average new new immigrant coming in, you know, is, is probably earning something that, that, that would make that kind of on the fringe of being affordable.   But if you relate it to the average ownership costs for a condo, for instance, it's a thousand dollars a month cheaper. So it is really the de facto way of introducing a affordable housing supply in the GTA that, that is geared to the market. So at a certain point, though, you know, you will, you will start to see some resistance and we actually did begin to see that pre COVID. So once rest started to rise to 25, 20 $600 a month, you began to see renters pull back a little bit and, and, and, and the demand didn't dissipate, it just started to move into less expensive markets.   So I think that that's something that will, that will reemerge, like right now, the hottest segment of the market for rental growth is the downtown market because it's in that recovery phase. But once it starts to exceed those preached pre pandemic levels, you'll probably begin to see, you know, renters look for more affordable pockets of the market, and that will help to manage, I suppose, the, the continued growth that we're expecting.   Jesse (40m 42s): Fair enough. All right, Sean, we have four questions if you're ready to go all LABA, Matt. Yeah. All right. Something, you know, now in your career, whether business or in the real estate industry, you wish you knew when you first started out   Shaun (40m 57s): Something that I know now, geez, I guess it's, you know, the market never works the way that you're going to expect it to work. You know, you can, you can have the best economic model, but you know, there there's, there's, there's so much human emotion in real estate, in psychological elements that, you know, sometimes I think, you know, we'd be better equipped to be a psychologist and an economist when trying to evaluate the market outlook.   So learning to, to understand that a forecast is, is more than opinion and, and, and, you know, it's subject to a lot of variability. I think every economist in marketing analyst there has had to learn over the last several years   Jesse (41m 47s): In terms of mentorship, somebody that's just breaking into or thinking about breaking into our industry, what would you say to that person   Shaun (41m 57s): Learn as much as you possibly can, you know, a firm such as organation is great at, at learning the industry from the ground up. So understanding the data, gaining, getting exposed to, you know, the development industry across the board, I think is incredibly valuable. So, you know, you know, we're working for a large organization is, is great, or a boutique organization such as organization as well, but being exposed to understanding how the market works and learning the data, learning how to source information and how the, the market functions practically I think is probably a great starting point   Jesse (42m 36s): Booker podcasts you could recommend to listeners   Shaun (42m 41s): Or podcast. Geez, I'm not big on both. To be honest, I, I, I, I read the news. Like I slipped a little, little, little time that I, I try to consume media through, through the newspaper. So I'm probably one of the few people that actually still get a printed global mail delivered to me every morning. And that's really all the time I have to spend on, on, on consuming media is, is when I sit down and actually read through the paper, you know, I think I was, I was starting to get into podcasts a little bit more before the pandemic, while I was commuting into work, but not having that time to sit down and listen to podcasts anymore is, you know, reverted back to traditional media and said, okay,   Jesse (43m 30s): All right. And for those that aren't, aren't watching this and listening, Sean, you look like you're, you're 35. So that's, that's awesome that you're still getting the, the paper. Last question, you know, this is the toughie first car make and model   Shaun (43m 44s): My first car. That was my own, that, that wasn't provided to me by my parents was a Chevrolet cavalier.   Jesse (43m 54s): I was very close. That was the Sunfire. That's great. That's great too. We've had, we've had some interesting cars on the show over the last 80 episodes. That's awesome. Shine. I really appreciate you taking the time for those that want to learn a bit more about urban nation or, you know, reach out to you. What's the best, best approach   Shaun (44m 13s): You can visit our website. urbanation.ca. We have a lot of information there. You can send an inquiry into the, the general line in Cote urbanation.ca or myself, Shawn S H a U n@urbanation.ca. Happy to answer any questions that may come up,   Jesse (44m 29s): I guess today has been Shawn Hildebrand. Sean, thanks for being part of working capital. Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse, for galley. If you liked the episode, head on to iTunes and leave us a five-star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one take care.

Billy Carlson is a Design Educator at Balsamiq where he helps new and non-designers learn best practices of interface and digital product design. He's been a designer for over 15 years and has worked on many types of projects. Previously, he led large UX teams at various corporations' internal design groups. During this episode we cover: 00:00 - Impekable Bay Area Product Development Agency 00:45 - Intro 02:08 - Basics of Wireframing & How to Get Started 04:22 - Taking Notes on Wireframing References 05:30 - First Steps on Prototyping 08:06 - Content First Design 09:41 - How SaaS Founders Can Apply Content First Design 10:48 - The Educational Part of The Design Process 12:57 - Principles of Effective Wireframing 21:30 - Expectations & Productivity on Leading Design Team 24:05 - Billy's Routine To Get Into a Creative State 26:02 - Best Dog Breed as Companion for Wireframing 26:50 - What Pet Billy Would Adopt 27:48 - Billy's Favorite Hobbies To Get Into a Flow State 29:11 - Billy's Favorite Thing About Working at Balsamiq 30:08 - Path Tips for Design Career Links: https://balsamiq.com/learn/articles/ten-principles-effective-wireframes/ (Ten Principles of Effective Wireframes) Get in Touch With Billy: https://twitter.com/billycarlson (Billy's Twitter) Tag Us & Follow: https://www.facebook.com/SaaSDistrictPodcast/ (Facebook) https://www.linkedin.com/company/horizen-capital (LinkedIn) https://www.instagram.com/saasdistrict/ (Instagram) More About Akeel: https://twitter.com/AkeelJabber (Twitter) https://linkedin.com/in/akeel-jabbar (LinkedIn) https://horizencapital.com/saas-podcast (More Podcast Sessions)

Darkness, bitter cold, and pure evil surround the adventurers as they take their first steps into the Amber Temple.

Get all the inside secrets and tools you need to help you develop your intuitive and leadership skills so are on the path to the highest level of success with ease.  Who's that person who drives you nuts?  Learn to recognize them and how to deal with them more effectively. In this episode you will learn: Recognize that person Take deep breaths What's your motive Listen in as Jennifer Takagi, founder of Takagi Consulting, 5X time Amazon.Com Best Selling-Author, Certified Soul Care Coach, Certified Jack Canfield Success Principle Trainer, Certified Professional Behavioral Analyst and Facilitator of the DISC Behavioral Profiles, Certified Change Style Indicator Facilitator, Law of Attraction Practitioner, and Certified Coaching Specialist - leadership entrepreneur, speaker and trainer, shares the lessons she's learned along the way.  Each episode is designed to give you the tools, ideas, and inspiration to lead with integrity. Humor is a big part of Jennifer's life, so expect a few puns and possibly some sarcasm.  Tune in for a motivational guest, a story or tips to take you even closer to that success you've been coveting.  Please share the episodes that inspired you the most and be sure to leave a comment.   Book a call to see how we might work together:  https://takagiconsulting.as.me/coffeechat (Book a call) Official Website: http://www.takagiconsulting.com Instagram: https://www.instagram.com/jennifertakagi/ Facebook: facebook.com/takagiconsulting Wishing you the best, Jennifer Takagi Speaker, Trainer, Author Connect with me on the Destined for Success Podcast Connect with me on Facebook: https://facebook.com/takagiconsulting Connect with me on Instagram: http://instagram.com/jennifertakagi Connect with me on Youtube: http://youtube.com/jennifertakagi PS: We would love to hear from you! For questions, coaching, or to book interviews, please email my team at assist@takagiconsulting.com

The ugly truth has just come out. One spouse has just confessed to unfaithfulness and the other is reeling in shock. Where do we go from here? Is there hope for a marriage in crisis? Does Jesus have something to say to this place? We are thrilled to bring back our friends Johnny and Amanda McKenna, who have been in this place and walked through—with Jesus' help—to the other side. Give us a listen? | Highlights | “Pray the prayer that was prayed over me, which is a super scary prayer to pray…but that prayer of ‘Whatever needs to come into the light, come into the light.' Days before my confession, I was told that that prayer was being prayed over me.” -Johnny McKenna “I…have to trust that God's gonna be there…when everything does come out and the pieces are ready to be put back together and God can begin His restoration work.” -Johnny McKenna | Do the Next Thing | Missed our first conversation with Johnny and Amanda? Check it out here! https://lauriekrieg.com/podcast/take-two-broken-beloved-pastors-with-johnny-and-amanda-mckenna/ Looking for community with other podcast listeners? Join our Facebook group! https://www.facebook.com/groups/himhpodcast If you need a new look at Scripture, the CSB translation is a sponsor of the HIMH podcast! Learn more about our new favorite Bible at csbible.com.  We would love it if you would rate the podcast for us, on any of your favorite listening platforms!

For some folks, the idea of putting together a financial plan can be overwhelming. But it's less threatening if you just focus on the first step. Let's talk about a few possible first steps that someone could take…Decide what you want retirement to look like.Do a financial inventory.Develop an income plan.Determine how much help you need.Determine where you need the most help, then seek out the right professional(s) to guide you and get the process started.

After her second divorce, Renee Bauer found herself compartmentalizing her life. On the outside, she was a professional and successful attorney, but on the inside, the shame and self-doubt were becoming too much to handle.    When Renee finally started talking, she realized that telling her story helped to destigmatize the shame she felt, along with the shame others felt too.    This week's podcast guest, Renee Bauer, is a divorce attorney, author, and host of the Happy Even After Podcast. She is committed to educating and empowering women to use their divorce as an opportunity to create a life they love. Having gone through 2 divorces herself and having lived in the shame of it all, it's her mission to remove the stigma of divorce so no one has to suffer in silence. Renee is convinced that when we follow our intuition, it will all work out exactly the way it's supposed to, and we too can be happy, even after the divorce.   Learn more about Renee Bauer by visiting her website at www.msreneebauer.com and check out her free mini video course called ‘First Steps to Freedom.'   https://course.thedcourse.com/free-video-opt-in1614706932884 

Founder and CEO of DeRosa Group Matt is a Regular Contributor and Podcast Guest on Bigger Pockets.com, Has an Active YouTube Channel Dedicated to Educating Investors, and the Author of the Amazon Best Seller, Raising Private Capital, how to Build your Real Estate Empire with Other People's Money In this episode we talked about:  • Matt's First Steps in Real Estate  • Scaling: the jump from 49 Units Up  • Raising Private Capital   • Advice to Individuals Who Haven't Raised Capital yet  • Matt's View on the Real Estate Market   Useful links:   https://derosagroup.com https://www.instagram.com/themattfaircloth/   Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, my name's Jesper gala and you're listening to working capital the real estate podcast. My guests today are returning guests, Matt fare, cloth, founder, and CEO of the DeRosa group.   Matt has been a full-time investor for over 15 years. Just talked a little bit about the deal volume here over a hundred million in real estate transactions and controlling over 1000 units in multifamily mats, a regular contributor and podcast guests on biggerpockets.com has an active YouTube channel dedicated to educating investors and the author of the Amazon bestseller. Highly recommend raising private capital. How to build your real estate empire with other people's money. Matt, how's it going?   Matt (59s): Good. I'm good, Jesse. It's great being here, man. Am I, did I, did you tell me a bit at BiggerPockets conferences? This is that I'm your first repeat appearance on your podcast?   Jesse (1m 8s): No, the first repeat appearance was definitely the BR Brandon Turner. So   Matt (1m 13s): Yeah, you're right. Yeah,   Jesse (1m 15s): But you're there though. You know, you're very generous in the, the first, first few episodes. I think you were you're right on. I think that was right when you started marketing the book, but you know, I think at that point I read half of it completed it a long time ago. A great book. I thought it was, I thought it was just for us, at least it was very perfect timing, which is fine.   Matt (1m 37s): I gotta be here, man. I should get like, we should do like the SNL jacket thing, like finding it loud when there's repeat guests, you know, like we should do like the, like the special, like the number five collab or whatever it is. I'm in the number two clubs now at Brandon. So I want to, I'm glad to be back here with you, man. Thanks for that.   Jesse (1m 52s): It's great to have you, you know what, I didn't even ask before we started. Are you still, are you still in out of Jersey right now or   Matt (1m 59s): So we have an office building in Jersey, but we, we work, but my wife and I have since moved to Pennsylvania just across the bridge, across the river from New Jersey. And now we live just north of Philly in a little town called new hope, Pennsylvania.   Jesse (2m 14s): Nice, nice. And how long has this, how long have you been there now? Three years. Awesome. Cool. Is that you guys doing some deals out there or was it just more of a, a kind of a personal things to   Matt (2m 25s): We move? I, you know, Jesse, I never thought I would be the guy to live in like a, like a suburban development, you know, but you know what, man, I, I got like the whole modern family house. I got, I live in a cul-de-sac and everything like that. The kids go out and play. I know my neighbors, circuitry, Katrina, the bomb, that, that whole thing. So w my wife and I are both urbanites, you know, I've, I've lived in or around urban cores for most of my life. And now we're in the burbs man.   And I, and I love it. I don't know if I'll be in the burbs forever, but for right now with two young kids, this is kind of the, where you want to be. So, no, that's perfect. Yeah. It's been a big, big, big change for us. Well, that's great.   Jesse (3m 6s): So I guess, you know, for listeners, just to catch us up to speed, it's been a, it's been quite a while since we spoke, you know, we've had a couple of major global situations. We've probably the last few years for, you have been a pretty interesting with the book and to see how that's been going. So maybe you could catch us up to speed a little, what you've been up to the last, the last year or two.   Matt (3m 29s): Yeah, man, what's interesting is that when, at my I've been investing for 16 years full-time and what, what I've in, in the beginning part of our career, we were into single family homes. We were in a, you know, a small office complex that, you know, the one down there and Trenton, we would do a lot, a lot of mixed use buildings here and there. And we were invested in, in what a lot of beginning and newer investors would, would consider to be, you know, like the typical deal, like single family, home, small, multi, you know, those kinds of things.   And we ended up scaling up to a reasonable portfolio of those kinds of things. But then, you know, through, through just being able to prove the proof in the pudding for ourselves to show that we were able to, what we were able to do for investors at a scale out best practice as we grew. And so we did, like, we stretched up a little bit into a 10 unit apartment building. Then we stretched a little bit further and did an 18 unit. Then we special bowl further into 49 unit. Right. And that's probably about when you and I had talked, right.   Or is a 49 unit apartment building. Then we went and did 198 unit in, in North Carolina. And then we, we realized the scalability and, and the, and that once we had proven that street cred to our investor base and to ourselves and to prop and, and that we were able to take best practices. We had learned in doing the small stuff and to the larger staff that that's been, our primary focus is, is a mid to large real estate deals for, you know, mid-size multifamily.   And so what I, to answer your question, what I've been focusing on in my time doing the last couple of years, scaling out a team of people that helped me run the larger real estate stuff. And I've got an, a plus team now, th that, that run all that. And I've been spending my time leading that team and, and charging us through COVID and, you know, inflation and all that stuff, but also working on the things that we still own, right. I mean, a couple of years ago, we still owned a lot of that single family homes and duplexes and triplexes and that kind of stuff, and slowly divesting those things and, you know, taking, doing our best to care of the investors that are in those projects and giving them, giving them the best trends that we could so that we can put our focus on just on the larger deals while we still properly unwind and take care of the small stuff.   So we've really been becoming like all grows up, you know, in the last couple of years, as, as a real estate company, you really just focusing on, you know, bigger and large stuff, well, maintaining and selling the small stuff. So the last couple of years Jesse's been all about the focus, transition optimization of, of, of the optimization and of the smaller things while leading and growing into new territory for us on the larger deals.   Jesse (6m 21s): Yeah. It sounds like at that point, you're, you're dealing with scale scaling with systems in terms of the, I think it was the 49 unit probably was the last time we spoke. So that one that jumped from the 49 unit up, how was that different if it was two from the one prior to the 49? And I think that was like an 18 unit or something, right from the 1849. So was that, was that transition from the 18 to 49, different from that transition from 49 to the, to the larger stuff you guys are doing.   So   Matt (6m 52s): The 18 to 49 was probably the biggest chunk and he will here's. This is interesting. Here's why, right. So what we decided to do when we were running everything, I even wrote an article for BiggerPockets years ago. And the article said, why I will never buy a deal outside of 30 minutes away from my office. Right. I had to eat the, I literally, if I, if those words were on paper, I'd pull it up and eat them right now. Right. Literally like little hot sauce on it. Now it ethos words, because at that time it made sense for me to scale out with in-house property management.   Like these are my employees, in-house maintenance, property management interface between the tenants, office manager, bookkeeper, that kind of thing. So I had a reasonable size team. We ran, you know, like, like a north of a hundred unit portfolio with, and it ran well, and it could have, we could have scaled that up to, you know, in, in, into the mid to high hundreds, or even floated with a thousand units or whatever of in-house owned, in-house manages managed units. And when we, the 18 unit we managed in house, and so had that down at the protocol down, had the process orientation down for that, then this 49 unit shows up and that one's two hours away from the 18 unit.   And I was like, man, I wrote that article, I guess I probably, you know, I don't know, but it's in a great location, great market, you know, love the location that it's in. It's, it's just all everything added up and the numbers added up on it and everything worked. And we had proven ourselves on many other smaller deals to investors and private lenders that we get enough people lined up to get into a larger deal. So we said, you know what, let's tackle this larger project. Like, w let's give it, let's give it a bit, let's get into this. We think we can do it.   Problem is Jesse, we'd hire a third party manager to run that property. So I, and this, at the time, God blessed my wife. She's like my muse, you know, I told her we're going to scale up property management, two hours away from our home in Lancaster. And she was like, why don't you just give it a shot to run third-party management? Because if you don't like third-party management, or if they're not doing a good job, you could just fire them and bring it in house. But why don't you try using another management company? And I think that she saw that that's, that, that, that was really going to help us scale by taking a focus off management and focus on capital growth processes, you know, renovations, capital may, you know, capital improvements, those kinds of things.   And it was a huge shift in running a team, going from running a team that I managed and developed a protocol and they'll work for me. And they ran around. Yeah. Right. They're my people versus going to a team that was not my people, third-party property management. It's a major shift, but it was a game changer.   Jesse (9m 46s): So curious about that, cause we we've dealt with a third department property management and I'm sure listeners that are invested, you know, either having in-house or having third party. Was there anything specific or kind of the big things that, that were the hardest to get over with that transition, whether it's them, you know, having their systems as opposed to using your systems, was there anything major that, you know, it was, it was just really that it was a challenging one to, to kind of relinquish a little power.   Matt (10m 12s): Well, the accounting thing, you know, you figure out the accounting stuff, cause it's not like they're, they're keeping your books, you know, on the back of a napkin. Right. That's it, that's an easier transition than people think it is. They call, well, we use QuickBooks and they use that folio. How we can we get, you know, what give you, I'll give you an hour or two, you probably figure it out. You know, that's way, way easier than the real. Then the real deal stuff. It's like, well, what are the interfaces? And what are the decision-making what's the decision-making protocol? How much rent should I charge for that vacant apartment?   Right. Should I, or should I not replay, like I have a leak in the ceiling, should I patch the roof? Or should I open up the ceiling to see if there's something inside it that's causing the leak from HVHC doctor or something like that. Right. Yeah. So it's, it's the, if this, then that type of protocol, that is the biggest shift and this level of trust you have to have for the property management team and for their protocol. And just to understand that there's things that are going to happen over here and you're just not even gonna know about it, you know? And so there's a level of having the faith and trust to go a little bit more hands-off and trust that they're going to be able to implement your ideas and visions, but you still got to have your finger on them to the point where you can, you know, catch issues or be like, Hey, we've that ceiling's been leaking for the last three weeks, three months.   And the tenant keeps calling back and they're saying that their HVHC is not working, you know, or that tenants complained of bugs four times in a row. Well, maybe it's because they're not living. Maybe it's because of an issue they're causing versus something that's actually in the building. You know what I'm saying? Stuff like that, that, that you still have to have your finger on as an owner, you cannot hands off and too many owners just go like this completely. But it's like, what's the level of me letting them run their business while I still manage the asset. And that's where the concept of asset management comes in.   Jesse (12m 4s): Yeah. I was going to say, it's like the, you give up a little bit on the property management or everything, depending on what you're doing, but then your internal controls have to go up, right? You need to have those systems of, and it could be as easy as, even on a smaller scale, you know, you're spending X amount of dollars, anything over this, we need executive approval or anything related to this. We need, you know, you have a process, like you said, if then, you know what F and then have a decision tree, you know, between, between you, the property manager,   Matt (12m 31s): Except that their protocol is that, well, we don't call an owner unless we have an expensive of 500 bucks and you have to be okay with that. Like, okay, well, do I want to get calls at a lower number or whatever it is. It's about understanding the process and accepting certain things. And knowing like, this is something I could probably live with. And this is something that I needed to change protocol for. Right. That was probably one of the bigger shifts. And just knowing you don't want to, here's here, I'll give you the term because everybody uses this term now cause attraction and stuff like that, the book attraction is KPIs and determining what the KPIs are for property management, that you need to keep your finger on and stuff that you can just let them run.   And not that it doesn't matter, but it's not going to really affect the things that it's not going to go direct to bottom line. And, and if, if it gets really bad, it'll trigger a KPI, you know, and that, so what are the things on the property management side that I have to hold them accountable to? And what can I just let them run? And if it gets really squirrely, I'll see it. Yeah, yeah, sure.   Jesse (13m 33s): You know, you can control so much of the input, but it's sometimes easier to just have the output. Did we hit this? Did we hit, you know, whatever that KPI is, then you can kind of look back if, if things are, if there's an issue, something needs to be changed. Matt, how was the process of, you know, you wrote, you wrote this book, raising private capital, how did your journey with these properties going from 1849 plus, you know, you're, you're now over a thousand units, I think in terms of the raising capital aspect of your business, how did that, how did that evolve?   Matt (14m 3s): It's a, well, it's funny. The first one I talk about in raising private capital was like, literally somebody, my wife went to college with and she was, I think like we connected with them on like a column like Dan, or maybe she saw him at like an alumni event or w w w w whatever, the, whatever it was. She mentioned to this colleague of hers from college that her and I had gotten into real estate investing. And he was like real estate investing. That's interesting. You know, I've always, I've always wanted to get involved in real estate, but I've never had the time. And it's like, oh, well, you know, my husband has the time, you know, like you should, you should talk to my husband.   And so that you start there and it just something we just stumbled into. And I had to call a lawyer to say, Hey, I've got this guy wants to give me money. What should I do? And he's like, okay, slow down. Let's talk about what is this going to be a equity or debt? And my lawyer was very patient and talk me through, you know, loan agreements and whatnot. And this was, you know, 12 years ago when we were first figuring this whole thing out fast forward to, you know, taking it. Step-by-step one foot in front of the other to, again, you know, again, not to like be a systems dork again, but I guess I'm an engineer by trade.   So I just, that's just how I think in that we started to develop systems and processes around raising private capital and, you know, everything from webinars to funnels to it. Like, you know, having those that want to invest with you participate in some sort of a process to where you can understand who needs to go, where, and your system it's, that's been the journey in, in really taking us to the next level in, in, in marketing and making people aware of us, but also in, in making, you know, making sure that people, the right leads go to the right places.   And that's all been all systems and systems and processes and trial, trial, and error kind of thing.   Jesse (15m 49s): So on the, on the point of systems, I talked with a lot of investors that are at that point where they've raised capital maybe for one or two deals, asset specific, or property specific capital. They're not yet at the size, or at least they don't think they're at the size to justify, you know, a, an actual portal, a fund portal or syndication portal. You know, what point do you, do you see investors really starting to put the systems in? Is it a, is it, is it a size of deal perspective or is it a amount of investors perspective?   How do you think about that?   Matt (16m 21s): I think the most people wait too long to do it. I got talked to one guy who had like 20 million in an equity under management, and he was running it on Excel, bless for anybody, man, he's running it using Excel spreadsheet. Right. And, and, and that, and it almost like you need to go next level, man, you need to look at it. You've got to get this wacky internet machine here. You need to take a look at, you know, and so I, I find that most people probably wait too long to handle capital management investor.   And it just, it just makes your life easy. And you don't have to, like, there are softwares out there now that are not 20,000 a year, you know, to, to buy, we use a software called invest next. And I, you know, I, I'm not, you know, I just have, I happen to know they have a low dollar amount, buy it to get in. If you, if you're managing just a couple of investors, they're, they're, I think it's, it might've been, it might be a hundred bucks a month or a little bit more than that to manage a couple of investors.   And of course it scales up as you have people in, but I find that as an investor, if I were past it and I'd do some passive investing too. But if I, you know, if I were passing, investing with somebody, knowing they've got their web interface, that goes to a portal, I can split my K one there in my data's all in their portal. And I can just pull it down when I need it. And everything like that is so much easier than knowing I got to go ping somebody or bother somebody. If I got a question or want to know how things are going, or what did you send me last month or whatever it is. And it's all in the portal, it's all in that system.   So I think it also just makes your company feel a little more professional as a syndicator, or as somebody offering any kind of, whether it's debt or equity, whatever, whatever you're offering your investor base. Those portals, I think are phenomenal that you've covered is whatever you're using.   Jesse (18m 12s): It's a it's cleaner too. I mean, you, you trade so much paper in the deal, especially with deals like this, and you have a bunch of investors and, you know, even, even today with, with the internet and emailing, it's just a lot where you can just say, here's this area. And I dunno for invest next. That's actually the first time I've heard of that, I don't know if that's something where, you know, you have your accountants or lawyers have access to that where they can dump data there. But I find, yeah, it's just, like you said, it, it makes it it's a professionalism aspect, but then it streamlines a lot of what you're doing.   Matt (18m 42s): Yeah. I mean, and that, that world is changing as I think that, that people become more, have more affinity and trust for things that are not wall street based from an investing standpoint. I think that you're going to see more and more of these kinds of interfaces for people to show up people to participate in. And so right now that's who we use, but who knows. I mean, maybe like, you know, QuickBooks gets into the business of that. At some point it becomes like super easy plug and play or whatever.   And so as we, I think as, as people start investing in things that are outside of wall street, more and more, there'll be more and more options. And that, and people just want like an easy professional interface. I can go get the data I need without me having to go to an individual to, to get what I want. So I think it's, it's a changing, evolving space. And there's some, I mean, just a couple of years ago, there were no portals now there's like, you know, a billion of them. And so I think that we'll see more and more services like that, that allow people like, you know, real estate investors or whatever, kind of a syndicator or business offering a person to be able to put their things out there and have it feel more and more professional for investors to participate in.   Yeah. It can be, Hey, we're just getting started on what?   Jesse (19m 53s): Yeah. And it's funny, like 10 years ago you were 15 years ago, you would have thought, oh, you can't, you know, you have to be one of the big banks or you have to be this investment house to have that. Whereas now, you know, like you said, who knows if it's a plugin or add onto QuickBooks in a couple of years in terms of the, for investors. So I'm sure you've got, we were at new Orleans at the BP cons, a lot of good talks there. You know, we, we chatted a little bit about, you know, how you've, you know, what you've been doing the last year or two years. I'm curious, you've probably had a number of people come up to you about the book on all different levels of where they're at in their investing career.   For those individuals that are say they haven't raised their first property, or maybe they've done one, but for the most part up to up to today, it's been bootstrapped. What kind of advice do you give individuals like that that are, that are maybe don't yet think that they have the confidence to be able to raise capital? And the other thing, probably thinking that, you know, why would somebody trust me to raise capital if I haven't done it before?   Matt (20m 52s): I think it's more important that you've got some real estate investing experience or real estate exposure versus whether or not you've raised capital from your network before I, and I think that that has to do with whether or not your network believes that you know, what you're doing with regards to, you know, that site. So I, if I, I tell people, if you can, you know, do your own deals, your own money, you know, or borrow money with collateralized, collateralized loans and that kind of stuff, and do a couple of deals on your own before you go put it out there or attach yourself to a larger operator, that's got a huge portfolio with tons of experience and everything like that with regards to accessing your network or having the right to ask them for money or whatever.   Raising private capital talks about the concept that everybody knows people with money. And those that tell me, they don't know, people with money are likely afraid to go to their network or concern, or just embarrassed or whatever, to go and make the ask. You know, I mean, my own immediate family is invested with me, you know, and I'm proud to say that and people, and I've, I've asked people like, well, would you allow your mom to invest with you? You know, and like, oh no, no, no, no. I'd never put my mother's money at risk.   Is that, well, let's take an examination on your business, but you'll let your mom go buy something off wall street, but you won't let her invest in something that you are operating, that you are driving or you have your finger on, on her behalf or your father's behalf, whatever it is. So I think that there's a, there's a look yourself in the mirror moment that people need to do to make sure that they've got an, a faith in what it is. They're building. That the people that are closest to them, they would trust involved in it. If that's not the case, then tighten up your hat, your investment houses to the point where that, that, that is something you're willing to stand behind and then you'll have enough confidence to, to take it to the, to take it public by then.   Jesse (22m 43s): Yeah. And it's something you talked about in the book and we talked about last time was there's a lot of people thinking that what they're doing is an ask where a think you reframe it as your it's an opportunity. And it sounds, it sounds funny and like, oh, it's just a, you know, it's whatever it's nomenclature, but it really is. It's no, no. It's, if you really believe in what you're raising capital for, whatever it is, whether it's a, you know, a movie in LA or it's a real estate piece of real estate and, you know, in Pennsylvania, it's really you saying here's an opportunity. Here's something I think, you know, I'm not asking you for money. I'm, I'm giving you an opportunity.   And I think, yeah,   Matt (23m 15s): I've been that embarrassed person want to give me some money from a real estate deal. I've been there. You know? And I mean, I get that. It's embarrassing at first. And it's tough asking people for anything for money specifically. Right. But if you reframe it for yourself, like, Hey, listen, I got a question for you, neighbor Bob, what's the stock market going to do tomorrow? You know, I don't know. You probably don't either, right? But I'll tell you what I have tenants and they're likely going to pay their rent. And if they don't every course, or I have loans out, and if you loan me money for my real estate stuff, you have collateral, meaning like you have a lien on the property, which means you can come take it if I don't pay you back.   You know? So I, I, I believe that there's this level of Moxy, if you will love a confidence that it takes to, to take yourself, to, to really show people that, that the, what you've got is going to work. And once you've got has, if this, the gnats, and, and then in some ways it has a lot of mortar, a lot of more of those than a typical wall street paper investment does. Yeah.   Jesse (24m 18s): In terms of getting into a little bit more complexity, you know, that, especially in the states right now, the fund to funds model is pretty big. And for, you know, for those that don't know a lot of, a lot of what we talk about here is syndication where it's deal specific capital raising, where when we started getting into fund of funds, you can be an LP, but you represent a larger pool of your own LPs in a say, limited partnership structure. I'm curious your view on that. Cause I don't think we've talked about this before the fund to funds model in general and you know, the associated type of fees or, you know, the different return that maybe you can ask for or demand based on the fact that you're bringing in an outsized LP size.   Yeah.   Matt (24m 58s): There's a lot of those out there. And I mean, from a syndicators perspective, that's kind of what you want is to be in a fund to funds because I can't tell you Jesse, how many times people call me up saying, Hey, I want to invest with you. And I love your deal. They will love what you guys do. Love your website, love your transparency, love all this stuff. And like, okay, great. I don't know the deal. I'll call you when I do. And then a couple months later when we have a deal to call them up and say, Hey, we have a deal. Remember the, remember the whole song you were singing about a great I was. And how I greet you on invest with being, let's go back to singing that song for a second.   And they're like, oh no, no, no. We already give that money to the next person that we called five minutes after we hung up with you. Right. Forgot the words   Jesse (25m 34s): To that song.   Matt (25m 35s): Yeah. Right. Oh, I forgot. Yeah. Yeah. What was that song again? Can you hold that only? Can you home the tone? Yeah. No. So there are, and I've been there myself and I think a lot of the syndicators out there just wanted to have a level of uniformity and a level of like an open door thing that's available whenever. And they just went, investors want to, are excited to get into something. You have the door open that they can hop in and that they can, you know, put their capital with a syndicator they trust. Right. What, what gets, and I see a lot of people that have a lot of deal flow, do that.   People that you and I both know that are, you know, talking heads in the world, I'll have, I'll have a lot of those now what makes me, I say nervous, but what you have to, as an investor, you have to make sure you vet completely as people that are raising capital. And then they're going to take that capital, invest with other people, right? Like who like, like, like it's a derivative fund, right. So it's like, well, why wouldn't I just go give it to that person? Oh, you're going to diversify me. I get it. Okay. Well, how much, what fee structure are you taking off the top?   You know, that I'm, that I'm now getting diluted by. Right. So I think it's just it's it's okay. Cause you do probably get diversification. You get, you know, diversified exposure across the board or whatever, maybe different asset classes. I know people that are running like a blended fund like that that's invested in self storage and flex industrial space and mobile home parks. Well, great. You get, you know, a little bit of everything and maybe geographic diversity to all kinds of cool stuff, but you want to make sure they're not just picking anybody.   They're not just shotgun approaching it. And just like, Hey, whoever's got a deal. I'll give you money. And th they, that they're properly vetting their operators. And then they're not taking too much of a fee in exchange for doing something that you arguably could do yourself too. You know, because I could call each one of those people. Now, it doesn't mean I don't believe in, in blended funds or whatever. It's something that we are doing as well. Although our blended fund does not invest in, it's not just a fund that invest in a bunch of multi-family. We see that there are things that are missing from syndications and those things are liquidity.   You can't get your money back in a syndication. If you will, if you invest in a syndication, you're locked in for five or more years, right. You can't compound your returns in a syndication. Right. I can't take the returns that you give me if I invest with you and recycle those returns back upon themselves and participate in compounding interest, which is Einstein said is the eighth merit eighth wonder of the world. Right. So I think more powerful. Yeah. So I can't, what, what a blended fund done properly can allow you to do.   If you invest with the right operator is something that allows you to compound your returns and get your money back when you want it. And not just how old the property is not going to sell for another four years and I can get you your money back. Right. So those are the, those are the things that we've worked on to blend in and you can't do just one asset class or one thing with one timeline, it's got to have multiple timelines of money coming in, coming out. Like it's got to have a short-term aspect and a long-term aspect. So that's the way we designed it. And in that, so it's something that we have active and it's something we did on a small scale because you don't have to have a $50 million fund.   It could be a couple million dollar fund and that, so that's something that we're doing, but I think that you're going to see more and more of them as capital becomes more. There's a lot of capital out there looking for a home. And so I think you're going to see more funds and not less because people are going to get, people are getting wise to it like, well, geez, I could just put up a sign that says I invest in real estate. And then, you know, I know a lot of luck. Well, a lot, a lot of capital's going to show up because there's a lot of capital looking for something different besides the wall beside wall street right now.   Jesse (29m 24s): And I think I'm just, I totally agree with your point where you're telling individuals, you know, just make sure that you're aware of what are the returns, sorry, what are the fees that are going to be taken on by the, by the person that's that is basically raising money for that fund, but then going to the other fund. And sometimes, you know, some people will say that absolutely not. They won't do fund to funds, but sometimes the returns are great. It's yeah, you're, it's a fee on a fee, but maybe you have an outsize preference promote that, that makes up for that, for that fee.   And the other thing too, you tell sometimes there's situations for investors where most likely, yeah, they have diversification, but most likely they couldn't have got into this particular dealer arrangement because you're putting, you know, you've raised 3 million for this one LP spot, so to speak. Whereas if you went in just on your own, you'd probably just be like all the other, you know, minimum say a hundred K or 50 K whatever the minimum investment is and your profile would probably look different.   Matt (30m 20s): Well, I mean, there are, when you get it, when you've aggregated that much money through a fund, you can kind of call your own shots, you know? And that's maybe what you're saying is that, you know, somebody calls up a syndicator in St. Louis and I see you're raising 10 million. Well, what if I give you half of that? Yeah. You know, w what would you be able to do for me? Can you pay my investors a little higher rate of return? Can you, you know, whatever. And instead of that investor, th that syndicator saying, oh, yeah, I'm going to go and raise this at, you know, I'm going to go and get the 150 of my best friends to invest in this deal with me.   You know, I can just go to you. And maybe some of my, some of my best friends to, and maybe you make my life a lot easier. I believe that's what they're doing. As I've seen that happen. We've been approached by that too, for people that, that have, you know, kind of like assembled a lot of money and you can call you, you know, what was your oyster at that point? And so maybe if you're a good negotiator, you can kind of like, you know, put up, put together a win-win.   Jesse (31m 19s): Yeah. And I think there's a, to your point of, we're going to see a lot more funds. I think we'll see a lot more of this too, just in the same way. Specialization usually happens in an industry and you might have somebody that's great at raising capital, but maybe it is not the operator. And they go to the DeRosa group and they say, Hey guys, do you have anything on the spigot right now? We'd love to be, be an investor on your deal. And they see you as a great operator. And they, you know, they want that LP spot. But I think, I think we're definitely seeing more and more of it in the market.   Matt (31m 47s): Yeah. And you will, and we will, as I think that, you know, what we do becomes less and less of a secret, and there are, there's even bigger wall street, you know, money working its way into like, not like owning it to an apartment building, but working its way into LP level syndications, you know, what broker dealers coming around going like, say, Hey, listen, we used to, you know, only raise a hundred million for big, big, big, big, big operators. Now, guess what, if you need 10 million, we'll go raise that for you.   Or, you know, like the broker dealers are dropping what they're willing to raise for because it's, they're seeing their clients wanting exposure to private placements and things like that. So we've been approached by a few broker dealers. I think it's beginning of the, of, of the amount of capital that's going to come into the real estate space. And maybe it's all through maybe a lot of it's through funds   Jesse (32m 40s): Problems. It's something that I'm very curious how this kind of rolls out because even in our Canadian context, in the U S similarly, the broker, it's always been a bit of a gray area where, you know, if you, if you raise for a fund, okay, you're, you're not necessarily a broker dealer, then you keep doing it and keep doing it. It's like, w you know, at what point do you have to be, to be a pure broker dealer, or, you know, I'm not sure how it works in your state, but I think there is, as, as it gets more and more, what would you say institutionalized?   You feel like some of the, some of the legal framework, I don't know if that will evolve or change, but definitely a lot going on there.   Matt (33m 16s): It's starting to the sec has already changed up the whole Kappa. They're changing the capital raiser laws. They've also changed up. There's some call that out, came a, it was a couple of years ago, but nobody's really, it's becoming popular now. And it's called regulation CF, which allows you to sell more micro sheriffs. The non-accredited investments. We did shares of one of our syndications that a thousand dollars a piece. So now that's not that wasn't, the, the whole syndication was much, much larger share prices, but we, we broke off a small chunk of the deal just to test it out, to see how it goes.   Cause not to, like my personal mission is to offer what we do as syndicators and his real estate investments to everyone. Like, I want everyone to be able to get into some sort of a passive investment if they choose to, without having to read an enormous check or go to put any of their tone time in or whatever. And so I think the world's going to change to the point where more and more people are going to be allowed to, or aware of alternative ways to make money and alternative ways to invest outside of just buying a stock off wall street. They can still do that.   And I don't think there's anything wrong with that, but I think it's wrong is that that's the only choice that many people have had, unless you're in the know or in like the country club or silver spoon network or something like that, then you knew about other things, other ways, other, you know, good old boy network plays that you could do investing well, that's all busted up and now it's a lot wider, but I think that there's a lot more widening that can happen for more and more people. And eventually everyone to invest in these kinds of things. And the rules are slowly, you know, it's it's government velocity, Jessie.   So the lows are there. The rules are slowly changing. Yeah.   Jesse (34m 59s): Well, it ties in with what we were saying before, too, as the systems increase, improve, you have the ability for operators like yourself to unitize and get smaller. And then you offer that down to the retail, you know, quotations, retail, I guess, customer   Matt (35m 12s): I'll give you a big vision. I have one day and I mean, I might make an, a, we have a deal under contract right now that I might try it. I don't know how it's going to go, which means like on this, but I want to buy an apartment building and I want to offer for people that live there, the right to buy equity in the apartment building.   Jesse (35m 30s): Hmm. That's interesting. That's almost like a co-op model.   Matt (35m 34s): Yeah. But they're not, they don't have to own the whole in a co-op typically the people that live there are the only ones that aren't all right. They all ages. If you live there, you own it. Right. And it's considered home ownership right now. I'm Todd. This still be a syndication to pass a mess, but I'm not. I'm talking about going to the tenants that are living in a 200 unit building and saying, Hey, listen, how about for 500 bucks? I'll let you own a little bit of the sticks and bricks of where you live. You pay him cash flow, you pay him upside residual. You give him a K one, you pay them the whole thing. And because of those portals, we just talked about, I can post a K one.   I can post their ACH payments and everything like that. It's, it's just as simple. It's all spreadsheets, you know? So 20 people or 200 people, or 4,000 people are technically just as easy to manage through an online portal. Right. And that's, that's a wacky idea. I have, I'll probably get talked out of it, but my team that are more, more pragmatic than I am, but   Jesse (36m 31s): I just don't write another blog Gus, and you'll never do it. I   Matt (36m 34s): Know. Right, right, right. Yeah. I will. I'll do it. I'll make it happen. If I go out there and say, I will never know you will, you know,   Jesse (36m 43s): Well that I want to be mindful of the time we were coming up to the end here, but I'd love to get your thoughts, you know, before we can talk a little bit about how people can reach you and talk, you know, we're where they can find the book. Cheers. Your, your view on the market right now in, I know you're an optimist like myself, but w you know, where do you see the opportunities in the next let's call it short term? Are you thinking differently given, given the last year?   Matt (37m 8s): Okay. I'll give a few different opportunities that I see that I think not in a people are focusing on right now. And then I'll think I'll tell you where I think the market's going to, you know, for, for, for go break out my crystal ball, right? So I think that not enough people are focusing on revitalizing industrial applications in the United States. I think that there should be more industrial flex space. As we continue to become more Amazon defied in our world, there's going to need to be more flex space. More people leasing like three to 4,000 square foot of small warehouse to do light, light, industrial manufacturing, or light storage with a little bit of office space sitting there as, as we get into more of, of the right now economy of, of, you know, shipping small products or whatever, to peoples it's in people's homes and selling things online or whatever.   And boutique brokerage buddy of mine owns a small flex space. And he's got a guy that sells exotic fish out of a little flex space. And he's got fish tanks, probably 30,000 gallons where the fish tanks and this little industrial space, and he's got every kind of fish you'd ever think of. And you can buy them from this guy online and they'll ship them off to you for a, for a crazy price. You can buy these really cool fish for people that are hardcore, you know, fish collectors that can't just go to PetSmart to get their, the fish that they want.   They want something really cool. That's been bred. And you know, that specific or whatever, because of the internet, the magic internet box, things like that are becoming more and more applicable. Right? So I think that there's, we're going to see, we're going to need a lot more of that kind of space in this country have a lot of spaces like that are tired and drawn down. Additionally, this could be an opportunity to repurpose things that are no longer applicable anymore in America. Like we don't, we probably got too much office space, probably got too much retail space in, in, in, in north America, let's say America and Canada.   So I think there's gonna be an opportunity for somebody to think of cool applications for the rundown strip center, down the street, from their house or for the office building. That's 50% dark. You guys think of that idea. You know what, whatever, whatever ways maybe it's living space, maybe it's a school. I don't know. You guys think of it and do something amazing right now with regards to multi-family as much as feel like it's overheated, it's overpriced or whatever. I think, unfortunately, we are going to be looking at some inflation in the next couple of years now. I think it's actually going to drive up.   It's going to drive up wages. It's going to drive up cost of goods and it's going to drive up breaths. And I think that that's going to overall, if not keep multifamily as a high priced asset, it'll maybe drive it up a little bit more. I don't see rates going up anytime soon, maybe a little teeny bit, but not like double or triple or whatever, because I don't think the fed the U S government can't afford to raise rates, you know, given what it would do to our debt if, if rates went up. So I don't think we're going to see huge, huge spike in rates. Maybe a little bit sticker just to try and keep up with inflation, but believe it or not, I think multi-family is going to continue to be a hot commodity.   It's not, I don't see any fundamental that makes it crash anytime soon. And so I think maybe it slows down a little bit. It'd be nice if it kind of hit a ceiling a little bit and slowed down just a nudge. But I do think that it's not, nothing's going to clip it anytime soon. And I think it'll be a good asset to be in for the foreseeable future because we're just not building enough housing and there's becoming more and more people. And we're the housing construction we're building is nowhere near keeping up with the population demand for it. So that's my 2 cents Jesse, and it could be completely wrong on all that stuff, but that's what I think I was going to say,   Jesse (40m 43s): No, that was the, the quickest crystal ball three minutes. And you heard it here first folks. Yeah. I could agree with you more on that. I mean, we pretty much, you know, what, what are we a lagging indicator for the states, despite what you would read and see in the media? You guys continue to be a big player when it comes to immigration and population growth in some of the major cities in the states and Canada. And I think that to your point, I don't know who is more supply constraint. I know we are from a multi-racial standpoint, continue to be.   So, you know, until, until we start seeing more supply, it's really hard to say that multi-family is going to do anything, but at least stay where it's at. If not, like you said in shop, I think for, from my point of view, it's, it's going to be the prices. The prices are going to get to a point where I feel that's not going to be the deciding factor of if they continue to go up, it's going to be the, the, the net operating income side. It's going to be the affordability side. Now, how much higher can that go?   Matt (41m 39s): You can't sit root capris. Can't go much lower. But I mean, I think America is finally realizing that maybe Canada has it, right. Maybe you ought to pay people a real living wage for doing what they do. And, and that $7 an hour is probably not enough, you know? And that, so you see companies like, you know, Amazon McDonald's Starbucks that are paying 15, 20, 20 $5 an hour, which is to be straight, man. That's really what it takes to get by, to raise them. You can't raise a family on seven or $10 an hour, $12 an hour, forget it. You know, there is a family you can feed yourself on that, you know?   And so the fat and the, and it's just not fair that some Americans to keep their lights on, have to work two, maybe three jobs, you know, that ain't right either. And so we're going to see, I think, a correction on living wage and a wage, one, what, what an acceptable wage rate would be in the U S and that unfortunately is going to push up cost of living so   Jesse (42m 34s): Well, I appreciate that Matt, we will look in a year if that prognostication is correct, and we'll hold you to it,   Matt (42m 41s): I've drawn a year from now. We'll just listen to this episode and disagree with everything you and I said, yeah, they're   Jesse (42m 46s): Just a bunch of talks about how   Matt (42m 48s): Wrong with those two guys, right?   Jesse (42m 50s): Matt, in terms of you've done the final four before. So I will skip that. But in terms of where people can reach out to you, aside from a Google search of Matt grouper DeRosa, where can I send them?   Matt (43m 3s): They can go to Instagram at the mat, fair cloth to check me out there. They can go to my company website, which is DeRosa right there behind me, D E R O S a group.com DeRosa group.com. And they can do all kinds of cool stuff, like check out a copy of my book, which they can buy on my website. They can, you know, check out our YouTube channel. They can join our mailing list. It can hear all about the passive cool stuff that we're doing as well@derosagroup.com.   Jesse (43m 28s): My guest today has been Matt Faircloth, cloth, Matt, thanks for being part of working capital.   Matt (43m 33s): Thank you, Jesse.   Jesse (43m 40s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five-star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one take care.Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, my name's Jesper gala and you're listening to working capital the real estate podcast. My guests today are returning guests, Matt fare, cloth, founder, and CEO of the DeRosa group.   Matt has been a full-time investor for over 15 years. Just talked a little bit about the deal volume here over a hundred million in real estate transactions and controlling over 1000 units in multifamily mats, a regular contributor and podcast guests on biggerpockets.com has an active YouTube channel dedicated to educating investors and the author of the Amazon bestseller. Highly recommend raising private capital. How to build your real estate empire with other people's money. Matt, how's it going?   Matt (59s): Good. I'm good, Jesse. It's great being here, man. Am I, did I, did you tell me a bit at BiggerPockets conferences? This is that I'm your first repeat appearance on your podcast?   Jesse (1m 8s): No, the first repeat appearance was definitely the BR Brandon Turner. So   Matt (1m 13s): Yeah, you're right. Yeah,   Jesse (1m 15s): But you're there though. You know, you're very generous in the, the first, first few episodes. I think you were you're right on. I think that was right when you started marketing the book, but you know, I think at that point I read half of it completed it a long time ago. A great book. I thought it was, I thought it was just for us, at least it was very perfect timing, which is fine.   Matt (1m 37s): I gotta be here, man. I should get like, we should do like the SNL jacket thing, like finding it loud when there's repeat guests, you know, like we should do like the, like the special, like the number five collab or whatever it is. I'm in the number two clubs now at Brandon. So I want to, I'm glad to be back here with you, man. Thanks for that.   Jesse (1m 52s): It's great to have you, you know what, I didn't even ask before we started. Are you still, are you still in out of Jersey right now or   Matt (1m 59s): So we have an office building in Jersey, but we, we work, but my wife and I have since moved to Pennsylvania just across the bridge, across the river from New Jersey. And now we live just north of Philly in a little town called new hope, Pennsylvania.   Jesse (2m 14s): Nice, nice. And how long has this, how long have you been there now? Three years. Awesome. Cool. Is that you guys doing some deals out there or was it just more of a, a kind of a personal things to   Matt (2m 25s): We move? I, you know, Jesse, I never thought I would be the guy to live in like a, like a suburban development, you know, but you know what, man, I, I got like the whole modern family house. I got, I live in a cul-de-sac and everything like that. The kids go out and play. I know my neighbors, circuitry, Katrina, the bomb, that, that whole thing. So w my wife and I are both urbanites, you know, I've, I've lived in or around urban cores for most of my life. And now we're in the burbs man.   And I, and I love it. I don't know if I'll be in the burbs forever, but for right now with two young kids, this is kind of the, where you want to be. So, no, that's perfect. Yeah. It's been a big, big, big change for us. Well, that's great.   Jesse (3m 6s): So I guess, you know, for listeners, just to catch us up to speed, it's been a, it's been quite a while since we spoke, you know, we've had a couple of major global situations. We've probably the last few years for, you have been a pretty interesting with the book and to see how that's been going. So maybe you could catch us up to speed a little, what you've been up to the last, the last year or two.   Matt (3m 29s): Yeah, man, what's interesting is that when, at my I've been investing for 16 years full-time and what, what I've in, in the beginning part of our career, we were into single family homes. We were in a, you know, a small office complex that, you know, the one down there and Trenton, we would do a lot, a lot of mixed use buildings here and there. And we were invested in, in what a lot of beginning and newer investors would, would consider to be, you know, like the typical deal, like single family, home, small, multi, you know, those kinds of things.   And we ended up scaling up to a reasonable portfolio of those kinds of things. But then, you know, through, through just being able to prove the proof in the pudding for ourselves to show that we were able to, what we were able to do for investors at a scale out best practice as we grew. And so we did, like, we stretched up a little bit into a 10 unit apartment building. Then we stretched a little bit further and did an 18 unit. Then we special bowl further into 49 unit. Right. And that's probably about when you and I had talked, right.   Or is a 49 unit apartment building. Then we went and did 198 unit in, in North Carolina. And then we, we realized the scalability and, and the, and that once we had proven that street cred to our investor base and to ourselves and to prop and, and that we were able to take best practices. We had learned in doing the small stuff and to the larger staff that that's been, our primary focus is, is a mid to large real estate deals for, you know, mid-size multifamily.   And so what I, to answer your question, what I've been focusing on in my time doing the last couple of years, scaling out a team of people that helped me run the larger real estate stuff. And I've got an, a plus team now, th that, that run all that. And I've been spending my time leading that team and, and charging us through COVID and, you know, inflation and all that stuff, but also working on the things that we still own, right. I mean, a couple of years ago, we still owned a lot of that single family homes and duplexes and triplexes and that kind of stuff, and slowly divesting those things and, you know, taking, doing our best to care of the investors that are in those projects and giving them, giving them the best trends that we could so that we can put our focus on just on the larger deals while we still properly unwind and take care of the small stuff.   So we've really been becoming like all grows up, you know, in the last couple of years, as, as a real estate company, you really just focusing on, you know, bigger and large stuff, well, maintaining and selling the small stuff. So the last couple of years Jesse's been all about the focus, transition optimization of, of, of the optimization and of the smaller things while leading and growing into new territory for us on the larger deals.   Jesse (6m 21s): Yeah. It sounds like at that point, you're, you're dealing with scale scaling with systems in terms of the, I think it was the 49 unit probably was the last time we spoke. So that one that jumped from the 49 unit up, how was that different if it was two from the one prior to the 49? And I think that was like an 18 unit or something, right from the 1849. So was that, was that transition from the 18 to 49, different from that transition from 49 to the, to the larger stuff you guys are doing.   So   Matt (6m 52s): The 18 to 49 was probably the biggest chunk and he will here's. This is interesting. Here's why, right. So what we decided to do when we were running everything, I even wrote an article for BiggerPockets years ago. And the article said, why I will never buy a deal outside of 30 minutes away from my office. Right. I had to eat the, I literally, if I, if those words were on paper, I'd pull it up and eat them right now. Right. Literally like little hot sauce on it. Now it ethos words, because at that time it made sense for me to scale out with in-house property management.   Like these are my employees, in-house maintenance, property management interface between the tenants, office manager, bookkeeper, that kind of thing. So I had a reasonable size team. We ran, you know, like, like a north of a hundred unit portfolio with, and it ran well, and it could have, we could have scaled that up to, you know, in, in, into the mid to high hundreds, or even floated with a thousand units or whatever of in-house owned, in-house manages managed units. And when we, the 18 unit we managed in house, and so had that down at the protocol down, had the process orientation down for that, then this 49 unit shows up and that one's two hours away from the 18 unit.   And I was like, man, I wrote that article, I guess I probably, you know, I don't know, but it's in a great location, great market, you know, love the location that it's in. It's, it's just all everything added up and the numbers added up on it and everything worked. And we had proven ourselves on many other smaller deals to investors and private lenders that we get enough people lined up to get into a larger deal. So we said, you know what, let's tackle this larger project. Like, w let's give it, let's give it a bit, let's get into this. We think we can do it.   Problem is Jesse, we'd hire a third party manager to run that property. So I, and this, at the time, God blessed my wife. She's like my muse, you know, I told her we're going to scale up property management, two hours away from our home in Lancaster. And she was like, why don't you just give it a shot to run third-party management? Because if you don't like third-party management, or if they're not doing a good job, you could just fire them and bring it in house. But why don't you try using another management company? And I think that she saw that that's, that, that, that was really going to help us scale by taking a focus off management and focus on capital growth processes, you know, renovations, capital may, you know, capital improvements, those kinds of things.   And it was a huge shift in running a team, going from running a team that I managed and developed a protocol and they'll work for me. And they ran around. Yeah. Right. They're my people versus going to a team that was not my people, third-party property management. It's a major shift, but it was a game changer.   Jesse (9m 46s): So curious about that, cause we we've dealt with a third department property management and I'm sure listeners that are invested, you know, either having in-house or having third party. Was there anything specific or kind of the big things that, that were the hardest to get over with that transition, whether it's them, you know, having their systems as opposed to using your systems, was there anything major that, you know, it was, it was just really that it was a challenging one to, to kind of relinquish a little power.   Matt (10m 12s): Well, the accounting thing, you know, you figure out the accounting stuff, cause it's not like they're, they're keeping your books, you know, on the back of a napkin. Right. That's it, that's an easier transition than people think it is. They call, well, we use QuickBooks and they use that folio. How we can we get, you know, what give you, I'll give you an hour or two, you probably figure it out. You know, that's way, way easier than the real. Then the real deal stuff. It's like, well, what are the interfaces? And what are the decision-making what's the decision-making protocol? How much rent should I charge for that vacant apartment?   Right. Should I, or should I not replay, like I have a leak in the ceiling, should I patch the roof? Or should I open up the ceiling to see if there's something inside it that's causing the leak from HVHC doctor or something like that. Right. Yeah. So it's, it's the, if this, then that type of protocol, that is the biggest shift and this level of trust you have to have for the property management team and for their protocol. And just to understand that there's things that are going to happen over here and you're just not even gonna know about it, you know? And so there's a level of having the faith and trust to go a little bit more hands-off and trust that they're going to be able to implement your ideas and visions, but you still got to have your finger on them to the point where you can, you know, catch issues or be like, Hey, we've that ceiling's been leaking for the last three weeks, three months.   And the tenant keeps calling back and they're saying that their HVHC is not working, you know, or that tenants complained of bugs four times in a row. Well, maybe it's because they're not living. Maybe it's because of an issue they're causing versus something that's actually in the building. You know what I'm saying? Stuff like that, that, that you still have to have your finger on as an owner, you cannot hands off and too many owners just go like this completely. But it's like, what's the level of me letting them run their business while I still manage the asset. And that's where the concept of asset management comes in.   Jesse (12m 4s): Yeah. I was going to say, it's like the, you give up a little bit on the property management or everything, depending on what you're doing, but then your internal controls have to go up, right? You need to have those systems of, and it could be as easy as, even on a smaller scale, you know, you're spending X amount of dollars, anything over this, we need executive approval or anything related to this. We need, you know, you have a process, like you said, if then, you know what F and then have a decision tree, you know, between, between you, the property manager,   Matt (12m 31s): Except that their protocol is that, well, we don't call an owner unless we have an expensive of 500 bucks and you have to be okay with that. Like, okay, well, do I want to get calls at a lower number or whatever it is. It's about understanding the process and accepting certain things. And knowing like, this is something I could probably live with. And this is something that I needed to change protocol for. Right. That was probably one of the bigger shifts. And just knowing you don't want to, here's here, I'll give you the term because everybody uses this term now cause attraction and stuff like that, the book attraction is KPIs and determining what the KPIs are for property management, that you need to keep your finger on and stuff that you can just let them run.   And not that it doesn't matter, but it's not going to really affect the things that it's not going to go direct to bottom line. And, and if, if it gets really bad, it'll trigger a KPI, you know, and that, so what are the things on the property management side that I have to hold them accountable t

Founder Morgan will go over picking a name, deciding on location, employees, & your own product line.

You may know that in my private practice I work with gut issues, skin issues, overcoming food sensitivities, and feeling tired and exhausted. Last week after guesting on 3 other podcasts all about eczema, I realized that I don't think I'd ever done an eczema 101 episode for you, my favorite people, the listeners of the LSL. So today, I am welcoming my co-practitioner at the LSL Nutrition private practice Becky Santiago, who will interview me, and together we will discuss the presentation, testing, and soothing eczema, including answering questions asked by followers on social media.KEY TAKEAWAYS:Prevalence of eczema in general populationWhy is eczema on the riseTypes and triggers of eczemaStandard/generic toolbox given to people with eczemaThe emotional impact of skin conditions- come with compassionHealth triad- physical/structural, nutritional, emotional angleFood sensitivity/eczema connection- Is it a gut issueFood reactions or digestion problems?The connection between microbiome and eczemaCHRISTA SHARED HELPFUL TIPS ON:Healing from the inside outNutrients needed for eczema healingImpact of stress on eczemaCleaning up your diet to help your eczema- gluten, dairy, top 8 allergens"Don't let food create stress"Rebalancing microbiota and improving digestionIdentifying root causes Healing eczema in pediatrics- working with mom and babyTopical options to soothe on the outsideMENTIONED IN THIS EPISODE:The Eczema Relief Diet & Cookbook: Short-Term Meal Plans to Identify Triggers and Soothe Flare-Ups by Christa BieglerWHERE TO FIND CHRISTA:https://www.christabiegler.com/https://www.eczemanutritionist.com/On IG:instagram.com/anti.inflammatory.nutritionist/Shop our Favoriteschristabiegler.com/shopLoving the podcast? Leave us a review and ENTER OUR GIVEAWAY NOW!Sharing & reviewing this podcast is the BEST way to help us succeed with our mission to help integrate the best of East & West empower you to raise the bar on your health story. Just go to https://reviewthispodcast.com/lessstressedlifeSPONSORS:A special thanks to our VIP sponsor RUPA Health, our lab concierge service that helps our clients get standard bloodwork 2/3 off retail direct to consumer lab test pricing. Let them know I sent you when you sign up for your free practitioner account.

It’s significant that, having focused on the way the Corinthians have confronted, and dealt with their sin, the First Steps Paul recommends immediately afterwards are not introspection or self-examination, but the service of others. He draws their attention to the power of God’s grace for, Grace made Visible Intentions made Real Needs made Clear

This week Marc is joined by Dawn who is early on her journey into discovering what wines she likes. While it may be somewhat the blind leading the blind, we do learn to taste the differences between wines and find one she enjoys with lots of tips and tricks learned along the way. So pour yourself a glass and enjoy! Cheers! Marc Website: www.theunsophisticatedpalate.com Music: Happy Clappy by John Bartmann Artwork: Marlon Kalis

Day 3 of the 5 Day Diligence Challenge for the Uncompromising Entrepreneur Community. Go here to download the Day 3 Worksheet for the challenge. https://uncompromisingcoaches.com/podcast    As promised your Uncompromising Coaches continue on Day 3 of their 5 Day Pop-up Podcast training on Finishing What You Started. Listen as your Uncompromising Entrepreneur Coaches talk about the First Steps you need to take to TAKE ACTION NOW! The guys are not just giving out tips, they're challenging their Uncompromising Fam to TAKE ACTION TODAY by joining the Uncompromising Entrepreneur Mailing list, commenting in the Uncompromising Entrepreneur Facebook Community, and lastly to DO THE WORK! Over the remaining 2 days they'll help you discover… The essentials of follow-through and finishing what you start So if you're a business owner with a great idea for a new product launch, that has yet to find a way to get it off the ground. Or someone who is great at setting goals but you fail to take action and fails to finish what you start. Then make sure to show up this coming week.

Taking the first steps towards your goals can be just as exciting as it is intimidating. Whether that's what others will think of you, your personal insecurities, or the long road ahead to get to where you want to be, there are barriers that need to be overcome. In this episode of the Coffee Roaster Warm Up Sessions podcast, we talk about some of the difficulties of taking those first steps can be, some of our personal setbacks, and what we can do to face them.

Anson Young is a Real Estate Agent and Investor with Hundreds of Transactions Completed in Each Category of Real Estate. Anson and his team Specialize in Marketing directly to Sellers for Off-market Deals, Using Many of the Methods that can be Found in his Book Finding & Funding Great Deals. When not Working, Anson can be Found Exploring the Wilds of Colorado's Rocky Mountains with his family, Reading Favourite Books to his Son, and Attending Loud Rock Concerts. In this episode we talked about:  • Anson's Bio & Background  • Anson's First Steps in Real Estate Business  • Becoming a Real Estate Agent   • Anson's Main Focus in Real Estate  • Raising capital   • Private Landing  • Sourcing Deals   • Building an Off-Market List  • Prospecting and finding  Opportunities  • Anson's Thoughts on Inflation and Interest Rates  • Mentorship, Resources and Lessons Learned   Useful links: https://www.instagram.com/younganson/?hl=en https://www.youtube.com/c/ansonyoung Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Right? Ladies and gentlemen, my name's Jessica galleon. You're listening to working capital the real estate podcast. Our special guest today is aunts and young Anson is a real estate agent and investor with hundreds of transactions completed in each category, real estate Anson, and his team specialize in marketing directly to sellers for off-market deals, using many methods that can be found in his book, finding and funding great deals when not working ants and can be found exploring the wilds of Colorado with his family and tending loud rock concerts.   And I can see you got a twig behind you there, and son, how you doing?   Anson (54s): I'm good. I'm good. Thanks for having me, Jesse.   Jesse (56s): Yeah, my pleasure having you on, what do you got there? Is that a base? It's hard to tell because   Anson (1m 1s): That one's a five string bass.   Jesse (1m 4s): I like it. Fantastic, man. Well, thanks for coming on. We were just chatting before the show, like a few of the most recent guests you were speaking at BP con this year, what was, what was your topic?   Anson (1m 17s): So my topic this year was finding the deals in any market and it focused on kind of out of state investing or long distance real estate investing, building a team, you know, how basically how to go ahead and find those deals, whether it's networking or off market. And, and yeah, that's seems to be a hot topic. Everybody's market is too expensive. So they're looking at other markets and I figured I'd hit on that since that's what I'm doing too. So   Jesse (1m 47s): Yeah, absolutely. It's certainly topical right now. It's we kind of joke around about the inverse relationship between, you know, the, the lower interest rates are, the cheaper money is the harder it is to find deals.   Anson (1m 59s): Oh yeah, for   Jesse (1m 60s): Sure. So in terms of a little bit of your background for listeners that aren't familiar with you, maybe you could kind of take us back to how you got into real estate. I know you just mentioned on the outset, you're also an agent. Maybe you could take us back to the beginning of how that journey started.   Anson (2m 17s): Yeah, sure. So back in 2003 or so I was working in it, I got laid off like everybody did, it feels like kind of boat, post.com, bubble burst. And so I was just looking around of what to do next. Do I go back into it? Do I double down in that arena or do I do something else? And at the same time, my wife and I were going to move down to Phoenix from Denver to be closer to family, my brother had just moved there.   They were having their first kid. So I was like, you know what? I don't have a corporate job anymore. I could kind of move wherever I want. And right before I left a friend of mine handed me rich dad, poor dad, which is, I think just the basic origin story of all real estate investors these days. But, but literally read that book on the way down to Arizona and changed my entire mindset about what I could do, what I should do and why going back into a corporate environment, probably wasn't the best idea.   And so landed in Phoenix and decided new city, a new me, and kind of jumped in and tried to learn as much as I could about anything that I could about real estate. And at the same time I was bartending. And so nights were spent working and days were spent trying to figure out real estate. So that's kind of a, that's kind of where I got started.   Jesse (3m 48s): That's great. So in terms of kind of getting into that mindset, I mean, not, not a dissimilar from a lot of people that come on the podcast or just talking in general, rich dad, poor dad just seems to be a cornerstone for a lot of, at least the beginning of real estate education, because I think ultimately the quadrants of that book for, you know, for anybody that hasn't read it, you definitely have to go check that book by Robert Kiyosaki. But I think it is ultimately when you get to that fourth quadrant where it's passive or, you know, quotations passive investments, I think real estate is just, it kind of lends itself to that, to that type of investment or that type of income.   Anson (4m 28s): Yeah, absolutely. And I had no idea that any of that existed, I mean, the guy who gave me the book, Paul, we were, I remember talking in this parking lot late at night and, and, and, and I couldn't even wrap my brain around getting a second mortgage. Like you have one mortgage who's going to give you money for a second house. You know, like that, that's how small my mindset was until that book helped me unlock and unpack what's possible.   So it, there's a reason why it's so such an origin story for many of us is because we weren't really taught that. And, and then this, this book just showed us kind of a different way of how things could work. Yeah,   Jesse (5m 10s): Yeah, yeah, absolutely. And it's, it's funny cause you know, that book, it really, it hits people in totally different, different jobs and different times in their life. And it still seems to be one of the ones that keeps coming up. So you, you read rich dad, poor, poor dad, you're you get laid off from your job where once, once that clicks for you and that light bulb goes off, what was, what was your process after that?   Anson (5m 35s): So I'm like, like many people starting off. I had no clue what I was doing. So I basically attended every single meetup that I could find from kind of Rhea meetups, real estate investment associations, to like cashflow one-on-one games. So, you know, tied in with the, the rich poor dad, it's basically a board game that people get together and play that kind of go through the principles of financial freedom and stuff.   And so anywhere that I could latch on to people who were doing real estate, I was there and I, I kind of made that my full-time job of, of doing that I've formed relationships. And in that I just started doing, trying to provide as much value as possible. So I'd go do all kinds of odds and end tasks for them for a couple of investors and a couple of agents. And in return, you know, all I asked for was just information. Like I would go run contracts, you know, for a long time for an agent.   And then I would ask for, Hey, can you teach me how to value properties on ML MLS? And so trying to provide that value first and then asking for something in return later on. And so I, I ran contracts, I punched signs in yards. I knocked on doors for a foreclosure investor. Feel like I did all these different things to try to learn as much as possible. And about after nine months to a year, one of the agents reciprocated with a deal.   And she was like, Hey, one of my clients has a property that they want to sell. I think that it would be great for you guys kind of sent over the numbers, helped me run through it and ended up to be our first deal. And it was a live in flip that we spent the next year fixing up and, and, you know, figuring out what's next. But we, we sold it after a year and ended up moving back to Denver. And so it was perfect timing because that was right at the end of 2005. And I think the Phoenix market crashed the next week.   So, so we got out just in time, but I learned a lot on that first deal and then went ahead and just appended and moved markets, which felt like starting over that's that's, that's kinda how that deal went. So   Jesse (7m 58s): Kind of started on that deal. Similar to a lot of individuals were, I guess, somewhat of a, you know, some people call it house hacking where you were living in at the time, but also renting out a, would that be fair to say it was kind of that, that type of arrangement for the first one?   Anson (8m 13s): No, we did. We did kind of a, it needed a lot of work. And so we just decided to move in and fix it while we were living there. We were fixing up stuff, you know, as time and money permitted and by the end of it, you know, it was fixed up and ready to go. And actually my agent w I, I had sent her an email, you know, we had gone to Vegas for our anniversary decided right then that we were kind of just done with Phoenix.   I sent her an email saying, Hey, I think we're going to sell. And she's like, I'll buy it. Like my parents will buy this. Like, she had very much faith that the market was going to keep and she was a little bit wrong on that, but that's okay. Yeah. So she gave us a really good price on it. We ended up making, I think $60,000 on it after a year, which isn't too bad and, you know, had some money to go back to Denver and continue the journey   Jesse (9m 11s): Right on. So was the journey continuing on that kind of operational level where it was value add deals or did you, did you pivot?   Anson (9m 22s): I think I, yeah, it was definitely a value add deals. When I got back, I felt like it was starting over because I didn't have a lot of real estate contacts I didn't have, I didn't know the market. And so, no, I kind of just went back to basics. I started working with investors and agents. I actually got hired on to a real estate agent team and was doing broker price opinions for banks. And right then I just, I figured out this whole thing of bank owned foreclosures and that this could be, you know, a really big thing.   And so, so from then on, probably for the next two years, pretty much everything that I bought was a bank owned foreclosure. So they were all distressed value, add properties that, that had almost no emotion into them because the banks don't care if you low ball them, they just care if it meets their kind of pricing matrix. So that was a fun time to be in real estate for sure. But I got my license maybe a year after I moved back and just kind of did both. I was an agent investor just kind of juggling both things.   Hm.   Jesse (10m 29s): So in terms of the kind of becoming an agent, because you get lots of people that are like, should I get my license as an investor, if you're going to make that switch, did you find it was something that was kind of critical or a nice to have type of type of thing where you still had to develop relationships with host of different agents?   Anson (10m 50s): Yeah. I found it to be absolutely critical to all the real estate that I was doing. Just, just from a, you know, obviously if I'm buying Oreos and my entire existence of finding deals is on MLS. I don't want to be one step removed from that process. I want to be, you know, like a direct actor in that process. And so right in front of MLS on a daily basis to try to find, you know, the deals that I'm looking for, rather than relying on an agent to send them to me, or, you know, go around the back door and give me their log-in or something like that, I could shoot off offers immediately, you know, set showings, do the things that I needed to do to go lock up these deals.   And so for me, it was absolutely pivotal   Jesse (11m 41s): In terms of kind of where you've developed your business today. So you kind of, you go through this process, there's the light bulb moment. You, you see that it's, there's proof of concept when you, you know, in one year you make 60 grand catch us up to today. What, where are you focusing? Not on, not just from a, from a geographical standpoint, but even from a type of asset or type of real estate that maybe you focus on or areas that you focus on.   Anson (12m 7s): Yeah. So, you know, it's kind of ebbed and flowed over the years between wholesales fix and flip. What I'm pivoting towards this year is more longterm buy and hold properties, single family, a small multifamily, those kinds of properties. And so that's a little bit different for me. I'm, I'm used to doing this transactional turn and burn, and now I'm trying to slow down and think for the longterm so that I can, you know, actually have something to show for my effort rather than just, you know, larger pay check, so to speak.   And so, so Ben pivoting in that direction as, as a business and Ben geographically in three different markets this year, just testing things out and getting the ball rolling on long-term cashflow. So that's kind of where we're at.   Jesse (13m 3s): So answered for the actual capital raising side of the business for you or where you source capital has that changed over the, the last few years? And if so, how, how has that evolved for, for yourself?   Anson (13m 16s): It hasn't changed too much once I kind of discovered private money lending before the sec kind of changed their rules, we would kind of just cold call for private lenders, developed relationships with them, had a good track record over time. And so after a while, you know, we would get referred to their friends who were looking to, you know, make, you know, a 10 to 14% return on their investment. And, and so, so yeah, so it hasn't changed too much because we're still using short-term even on these long-term projects we're using short-term funds to, to acquire them and then refinance it now to a more portfolio or, or bank loan style financing.   So I guess that side's new, but when we go into purchase, we're still using like our same private money lenders. They know that they're going to hang on for, you know, three to six months until we refinance out, but that's not too different from a flip where we would hold onto it for three to six months and they would get paid out at the end of that. So, so the, you know, the initial buy is the same. It's just that long-term piece of now it's going to convert into something long-term. So can you,   Jesse (14m 34s): You talked to, to that a little bit for listeners, you know, for that type of approach where you are, you know, getting short term finance, when you have a project going on and then stabilizing after that, maybe you could to kind of run through how that works. And, and, you know, on top of that private lending, I think is a bit of a black box for a lot of people. So, you know, maybe, maybe get your thoughts on that as well.   Anson (14m 59s): What do you mean by black box?   Jesse (15m 0s): Well, I, I feel that a lot of people that aren't in our industry, they hear private money and it sounds like they're meeting somebody in an alleyway and they're handing them a bag of cash. So I think, I think from like, I think for a lot of people, they don't realize how many private lenders there are out there, how many more options you have than just walking up to the bank that you've known for years, or are you, you know, you know, the brand,   Anson (15m 25s): Right? Yeah. So in, you know, I wish it was like an alleyway with a sack full of cat. That'd be kind of fun actually. But typically private lending is just lending from an individual rather than a bank. And so a sophisticated, private lender will operate somewhat like a bank where they, you know, they kind of vet deals. They've vet you, they vet the process. Some even want like a loan application and stuff. Others are very much more relational.   I mean, your next private lender could be your rich uncle or something who really believes in you and wants you to succeed. So it kinda runs the gamut from usually it's, you know, older people who are using the retirement funds. Some people who came into some money one way or the other, it seems like two or three of my guys who I lend or who I borrow from. They all sold a business in their sixties and now have kind of more money than they know what to do with, they see a return of 12% PR and that's very exciting to them.   And so they will lend that to the right person. And so it's kind of, I wouldn't call it a beginner strategy at all, because usually you have to have a kind of a track record. You have to have a reputation for what you're doing for somebody who just is sitting on, you know, even if it's a million dollars, you know, that's two projects in Denver. And so they, you know, lending out their entire million dollars. It has to be to the right person, the right projects with the right track record so that they are secure that bill, you know, end up getting that back.   And so it's kind of private lending in a nutshell. And to your other question for kind of stabilizing an asset, typically we're, we're purchasing with private money, which is for us, it's a hundred percent loan and fix. And so we're, we're into the deal with no money and we go ahead and we get the property fixed up rented, and our next lender wants to see it for at least three months.   We're, we're, we're collecting rent. Everything is stable. Everything's looking good before we can transition that into kind of a, it's a refinance into either a portfolio or, or a conventional style loan. I prefer portfolio, cause it seems just a little easier, but then they, they close on it and they'll pay off the private lender. And so now instead of owing, you know, this individual money, now we own, now we owe this credit union or this bank money and, and pay them.   And it's a long-term note, whereas our short-term private money lender is only like a six month note. So now we have a 30 year note and a smaller payment, so we can actually cash flow.   Jesse (18m 29s): Nice. Yeah, yeah. Obviously the goal there, if we switched to sourcing deals, like we talked about at the outset, it's a, it's a challenging thing to do right now. So it was topical, I guess, that that was in new Orleans. That was your kind of discussion topic, maybe as a comparison, if, if there has been things that are different than when you were starting out, how you were sourcing deals, then as opposed to strategies you've, you've learned and are using now, how has that evolved?   And, and you know, what, what approach are you using given the fact that it just seems like there is so little supply out there.   Anson (19m 7s): Yeah. That evolution has been pretty huge. So like I S like I said earlier, starting off, we did a lot of, we just bought bank owned, foreclosures right off of MLS. And we got really good at that to the point where we also sold REO, but we would buy from other REO brokers. And so we kind of knew the inside process of how asset managers think what different banks did, what, when they did their price reductions, you know, could we get in one day before a price reduction and then get under that price reduction and lock up a property before everybody else saw it.   We got pretty good at that kind of stuff. Once the foreclosure crisis started resolving itself, bailouts and everything else, there was just less foreclosures coming. And I saw the writing on the wall when, on the REO sourcing side, it's kind of the, you know, the, the, the source of the river started drying up and we were both benefiting from that source of the river plus way downstream, when we would pick up deals. It's like, oh man, I kind of see the writing writing on the wall here.   We're not going to be able to find as many deals as we used to. And so at the same time, we were also doing some short sales and looking around there was still, you know, a huge, you know, huge chunk of people who were underwater on their mortgages. And so we just aggressively attacked short sales that were listed and short sales that weren't listed. So we were just going straight after foreclosures basically. And so for about a year or two, we did mainly short sales. Was it, we got really good at that as well of going from the wild west or short sales to when it kinda got standardized and institutionalized.   We saw, you know, everything in that whole window. And then, and then the same thing happened where I started seeing that the market was rising, the prices were rising and not everybody would be underwater forever. And so what do I do next? And from there, we went off market. We, we, we did a little bit more MLS deals we would find, but those really just started getting few and far between, and we needed a bigger source of deals we were doing mainly wholesaling right then.   And so the better source of deals was just to go directly to the seller. And so ever since probably 2014, 15 up until now has been all off market direct to seller. I haven't bought an MLS deal probably three or four years. They just, I don't know. It's just not, not scary   Jesse (21m 54s): Now. Yeah,   Anson (21m 56s): Exactly. So all, you know, basically all off market right now, just going directly to those sellers and seeing if we can help them.   Jesse (22m 4s): So on that, on that note, in terms of the approach that you use with, you know, is it the, of, in the vein of direct mailers, are you kind of going to the secretary of state? Are you going through different software? How are you, how are you reaching out to those? Those would be sellers.   Anson (22m 22s): Yeah. So our main, our main way to reach out and touch them is direct mail. We have just this year started adding in, or I shouldn't say just this year, it was probably 2019, just started stacking in more ways to reach sellers, kind of this, the same lists and in different ways. So if they did respond to the direct mail, we also called them. We also text them. We also emailed them if we could, you know, find them on Facebook, knock on their door, whatever it took to really get in front of the right sellers.   You know, there was a time where you can just send out postcards and, you know, get a 2% response rate, just pick from the best ones. But that just started kind of getting less and less as there was more competition. So now we're reaching out in multiple ways, but direct mail is still our number one.   Jesse (23m 16s): Yeah. You know, it, it's interesting because it comes, I guess, depending on who the sellers are. Like, for instance, if you, if you're really reaching out to predominantly mom and pop, or like you said, small, multi, multi Juarez, you know, I found that the responses are usually better. However, if there's that one layer of say a corporate structure, LLC, partnership, whatever that is, do you, is that also part of the pool that you reach out to? And I guess from there, if it is, you probably have to do that one extra step of, you know, who's the principal who's, you know, who's the signing officer.   Anson (23m 49s): Yep. Yeah. So in Colorado, our, our secretary of state is pretty transparent. So we can go on and search LLCs and find out who, you know, who's the owner where their register addresses all that stuff. So our, oh, I wish I had the number of, of LLCs that we've mailed to, but I have given that over to a VA to go ahead and look those up and just make sure that we're hitting the right people and getting in front of them instead of just setting, you know, XYZ LLC, you know, it's like Paul Jones or something.   So,   Jesse (24m 25s): Yeah, yeah. In terms of the, so for those that are just kind of getting into real estate in terms of finding off market deals, they're coming into an environment that, you know, we we've seen prior to supply constraints, a different approach. Whereas now, because there's so few real estate opportunities out there properties, they were coming into a market where they probably have to start with direct, direct to seller or trying to find off market deals. How would you go about telling somebody who's getting into the industry? How does start building that list?   Anson (24m 58s): I mean, even today, it sounds very, very old school, but I think that are driving for dollars lists are still some of our Mo you know, highest producing lists. And if you want to keep the cost down and you have more time than you have money, I would say, drive for dollars and then cold column, just, you know, skip, trace them or look them up on white pages.com. Yup. And then, you know, send out phone calls. You'll probably, you know, get 50 to a hundred driving for dollars leads a day.   And then, you know, cold column the same day or the day after you'll, you'll keep yourself busy for sure. But it, you know, bang for buck time for payoff, it's definitely the best use of your time to try to find deals.   Jesse (25m 48s): Yeah. A hundred percent, all it really takes is, you know, you do it for a week. If you can hit one, then you know, there's your, there's your week's work right there. Exactly.   Anson (25m 57s): And pretty good ROI.   Jesse (25m 59s): Yeah. A hundred percent. And in terms of your stock, you know, your stock mailer, is it typically, like you said, you know, Hey, you know, Hey Doug Smith and then w what's the typical pitch that you, that you guys employ.   Anson (26m 14s): Yeah. So we definitely try to speak, you know, the ethos or the, you know, the, the makeup of our direct mail is, you know, handcrafted and handwritten. So we want to make sure that we're, we're talking to them down at like a normal level of like, Hey, we're here to help. So it's like, you know, using names, using addresses, using, you know, subdivisions, if we really want to like, like, Hey, you know, Hey, Jesse, we're, you know, we're wondering if you wanted to sell 1, 2, 3 main street, if you've ever thought about selling hassle-free please give us a call.   You know, we don't have any commissions or inspections or appraisals, you know, call us for a no obligation fair offer. And that that's enough of the core of the message to get across of like, Hey, we're here to help. You know, sometimes we'll add in that we're local, you know, we're, we're, we're definitely, you know, not an eye buyer or somebody who's a Zillow or something coming in that we're here to work with them and we have, you know, multiple ways to help them.   So,   Jesse (27m 28s): Yeah. Fantastic. At the end of the day, it's really just getting that phone call. You're not expecting it to get the sale, which it's nice, but not expecting to get the sale on the first touchpoint.   Anson (27m 37s): Right. Yeah, exactly. It's definitely a long game of multiple touches and, and yeah. Building on each other. So,   Jesse (27m 47s): So handsome, we're in a crazy time right now, recording this, you know, coming into the end of, of 20, 21. I don't think anybody could have predicted the last year and a half. How has your business, or how do you see your business evolving as a result of kind of the environment that we've been in, if at all, and, and maybe just prospectively, where do you see opportunities, you know, coming in the new year?   Anson (28m 15s): Yeah. So we're going to continue doing what we're doing for this year, which is, you know, more out of state looking at a state for markets that are conducive to cash flow. Short term rental opportunities is, is pretty big focus right now as well. And then locally, we've been partnering more with other investors because we've had a lot of time spent on the other side, kind of looking at a state. And, and so, you know, looking forward to next year, you know, I think the market's going to just be doing more of the same, can't foresee anything crazy that's going to happen.   And so, you know, we're just kind of to focus on long-term projects and, and even if we're wrong, you know, we still have, long-term more passive, passive things going, so   Jesse (29m 12s): Right on. All right. And so we ask a four questions, every guest before we wrap up. So before I get there, I'm just curious, I've been trying to, you know, for the last month or two kind of taking a poll of, of different real estate professionals I talked to, and I'm just curious your thoughts on number one, inflation, and number two interest rates. And, and I'm not expecting you to have a crystal ball, but I just, I find it funny because, you know, you have asked people, you get four opinions on these topics, right?   Anson (29m 46s): Yeah. So inflation's obviously going to be an issue. I think that Brian, who's the economist who spoke at BiggerPockets convention, had a lot of really good things to say. And pretty much everything that I would kind of repeat of, you know, inflation's a problem. It's not going to be a problem today or next year, but in the next, you know, four years or so, it will probably pop and become an issue.   And as far as interest rates, it's like, I think that they just voted that they're not, they're not going to change at all. And so as long as interest rates stay down and buying, and money is easy, it's just gonna turn, turn the market and keep it going. So buyers will keep buying. Investors will keep investing money right now is probably the easiest thing to get, whether it's hard money or otherwise, and so easy money, hard deals.   So it's going to probably just keep fueling that and, and yeah, just, it, it's kinda hard to say, but I think Brian had a really good kind of outlook on it where, you know, 20, 24 or 2026 is kind of when things will start changing and creeping up a little bit on, on interest rates. And I, I don't know enough about it to disagree. So   Jesse (31m 13s): Yeah, we had a, we had Brian on the show, you can check that episode out. I think it was in the sixties, but he was, he was great if especially if you, if you geek out on, on economics, that's definitely the one that listened to. I love it. Okay. Sweet. If you're ready, we'll fire off these final four questions to ya.   Anson (31m 32s): All right. I'm ready. Right on.   Jesse (31m 34s): What's something, you know, now in your career Anson, whether that's in real estate or business that you wish you knew when you started out.   Anson (31m 43s): So I kind of, I definitely always traded just short-term money for, you know, not worrying about long-term things and, you know, it's like, oh, you're in your twenties. You know, you don't really care too much about it, but once you get up into your forties and you're kind of still doing the same thing, it's probably not the best idea. And so I would, I would go back and tell myself for sure, just like, Hey, keep like even a third of the amount of houses that you're doing, and then you won't have to work when you're 40.   So   Jesse (32m 17s): There you go. That's a, that's a good point. Okay. In, in terms of, for that person, that's getting into our industry, what do you tell them in terms of your view on mentorship?   Anson (32m 32s): Yeah, that's a really, really good question. I'm a big fan of mentors, whether it's kind of formal mentors and informal mentors, you know, people who were willing to help you up. And I would say, just find somebody who aligns with your values and then see how you can provide value to them so that they can help you get to where you want to go. And then once you're at a place where, you know, a few years along the line, I think that mentorship works both ways where you should have a hand up and a hand down.   So you're, you know, you'll graduate through mentors that you're working with and every step along the way, you should be helping bring people up as well. And that teaches you a lot of things too, as you're teaching and working through things with other investors as well. So you've kind of learned by teaching and then obviously you learn by learning from somebody who's where you want to be.   Jesse (33m 31s): Yeah. That's great. Great answer as well. Okay. In terms of, let's put a pin in rich dad, poor dad. So put that one aside, but what is a book that you find yourself just recommending over and over again?   Anson (33m 45s): Yeah. So my, that is, it was a book that I also give about the most as well. And it's obstacle is the way by Ryan holiday and it's a book on stoicism and it's, it's really helped me in my personal life and also through business as well. And so it's just an, and an outlook on life and on business and situations that I wasn't exposed to until I kind of started getting into it. And that book definitely hammered it home for me.   So   Jesse (34m 19s): That's cool. I don't think we've ever had that book recommended on the show, but I've, I've definitely had people say it's a, it's a killer book. Yep. Okay. Last question. First car, make and model.   Anson (34m 32s): I had a 1979 tan VW rabbit. That is   Jesse (34m 38s): Unreal.   Anson (34m 39s): Two door.   Jesse (34m 40s): Yeah. That's pretty good, man. Like 79. I just looking at you. I would've, I would've assumed it'd be the eighties or nineties, but that's, that's quite the car.   Anson (34m 50s): That's the same year I was born. It just happened to be, my dad's always worked on VWs my whole life. And so my step-mom drove like a Cabriolet and my dad's had like dozens and dozens of bugs and, and yeah, when it came time to me, for me to start driving, you know, he bought this 79 tan rabbit that he's like, this is yours. If you get your grades up. And it took me a little while, but finally got my grades up enough to, to drive it. So   Jesse (35m 20s): I love how they're bringing back the seventies and eighties, the retro stitching for a, for a lot of their, their new models. So it got kind of that vintage look.   Anson (35m 29s): I'd love to see it. I'd love to see a new rabbit. Yeah.   Jesse (35m 32s): Oh yeah. Bring it back. Awesome. All right. Answered for those of you that want to connect or reach out or have any questions. I know you're doing work with bigger pockets. Maybe you could tell, tell listeners where they can go on the Google machine.   Anson (35m 47s): Yeah. If you go to the Google machine and if you want to connect with me bigger pockets, this is probably the easiest way to do it. It's just, if you just search my name on the site, you'll find my, my, my profile. Think I'm the only answer on the young, on there still. So that's good. Yeah. And then yeah, if you want to find me on Instagram at young Anson, and if you want to find me on YouTube, I do do videos for bigger pockets and starting to do more videos for myself as well. And so you can find me there.   Jesse (36m 16s): My guest today has been aunts and young aunts and thanks for being part of working capital.   Anson (36m 21s): Thanks, Jesse. Thanks so much.   Jesse (36m 31s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Right? Ladies and gentlemen, my name's Jessica galleon. You're listening to working capital the real estate podcast. Our special guest today is aunts and young Anson is a real estate agent and investor with hundreds of transactions completed in each category, real estate Anson, and his team specialize in marketing directly to sellers for off-market deals, using many methods that can be found in his book, finding and funding great deals when not working ants and can be found exploring the wilds of Colorado with his family and tending loud rock concerts.   And I can see you got a twig behind you there, and son, how you doing?   Anson (54s): I'm good. I'm good. Thanks for having me, Jesse.   Jesse (56s): Yeah, my pleasure having you on, what do you got there? Is that a base? It's hard to tell because   Anson (1m 1s): That one's a five string bass.   Jesse (1m 4s): I like it. Fantastic, man. Well, thanks for coming on. We were just chatting before the show, like a few of the most recent guests you were speaking at BP con this year, what was, what was your topic?   Anson (1m 17s): So my topic this year was finding the deals in any market and it focused on kind of out of state investing or long distance real estate investing, building a team, you know, how basically how to go ahead and find those deals, whether it's networking or off market. And, and yeah, that's seems to be a hot topic. Everybody's market is too expensive. So they're looking at other markets and I figured I'd hit on that since that's what I'm doing too. So   Jesse (1m 47s): Yeah, absolutely. It's certainly topical right now. It's we kind of joke around about the inverse relationship between, you know, the, the lower interest rates are, the cheaper money is the harder it is to find deals.   Anson (1m 59s): Oh yeah, for   Jesse (1m 60s): Sure. So in terms of a little bit of your background for listeners that aren't familiar with you, maybe you could kind of take us back to how you got into real estate. I know you just mentioned on the outset, you're also an agent. Maybe you could take us back to the beginning of how that journey started.   Anson (2m 17s): Yeah, sure. So back in 2003 or so I was working in it, I got laid off like everybody did, it feels like kind of boat, post.com, bubble burst. And so I was just looking around of what to do next. Do I go back into it? Do I double down in that arena or do I do something else? And at the same time, my wife and I were going to move down to Phoenix from Denver to be closer to family, my brother had just moved there.   They were having their first kid. So I was like, you know what? I don't have a corporate job anymore. I could kind of move wherever I want. And right before I left a friend of mine handed me rich dad, poor dad, which is, I think just the basic origin story of all real estate investors these days. But, but literally read that book on the way down to Arizona and changed my entire mindset about what I could do, what I should do and why going back into a corporate environment, probably wasn't the best idea.   And so landed in Phoenix and decided new city, a new me, and kind of jumped in and tried to learn as much as I could about anything that I could about real estate. And at the same time I was bartending. And so nights were spent working and days were spent trying to figure out real estate. So that's kind of a, that's kind of where I got started.   Jesse (3m 48s): That's great. So in terms of kind of getting into that mindset, I mean, not, not a dissimilar from a lot of people that come on the podcast or just talking in general, rich dad, poor dad just seems to be a cornerstone for a lot of, at least the beginning of real estate education, because I think ultimately the quadrants of that book for, you know, for anybody that hasn't read it, you definitely have to go check that book by Robert Kiyosaki. But I think it is ultimately when you get to that fourth quadrant where it's passive or, you know, quotations passive investments, I think real estate is just, it kind of lends itself to that, to that type of investment or that type of income.   Anson (4m 28s): Yeah, absolutely. And I had no idea that any of that existed, I mean, the guy who gave me the book, Paul, we were, I remember talking in this parking lot late at night and, and, and, and I couldn't even wrap my brain around getting a second mortgage. Like you have one mortgage who's going to give you money for a second house. You know, like that, that's how small my mindset was until that book helped me unlock and unpack what's possible.   So it, there's a reason why it's so such an origin story for many of us is because we weren't really taught that. And, and then this, this book just showed us kind of a different way of how things could work. Yeah,   Jesse (5m 10s): Yeah, yeah, absolutely. And it's, it's funny cause you know, that book, it really, it hits people in totally different, different jobs and different times in their life. And it still seems to be one of the ones that keeps coming up. So you, you read rich dad, poor, poor dad, you're you get laid off from your job where once, once that clicks for you and that light bulb goes off, what was, what was your process after that?   Anson (5m 35s): So I'm like, like many people starting off. I had no clue what I was doing. So I basically attended every single meetup that I could find from kind of Rhea meetups, real estate investment associations, to like cashflow one-on-one games. So, you know, tied in with the, the rich poor dad, it's basically a board game that people get together and play that kind of go through the principles of financial freedom and stuff.   And so anywhere that I could latch on to people who were doing real estate, I was there and I, I kind of made that my full-time job of, of doing that I've formed relationships. And in that I just started doing, trying to provide as much value as possible. So I'd go do all kinds of odds and end tasks for them for a couple of investors and a couple of agents. And in return, you know, all I asked for was just information. Like I would go run contracts, you know, for a long time for an agent.   And then I would ask for, Hey, can you teach me how to value properties on ML MLS? And so trying to provide that value first and then asking for something in return later on. And so I, I ran contracts, I punched signs in yards. I knocked on doors for a foreclosure investor. Feel like I did all these different things to try to learn as much as possible. And about after nine months to a year, one of the agents reciprocated with a deal.   And she was like, Hey, one of my clients has a property that they want to sell. I think that it would be great for you guys kind of sent over the numbers, helped me run through it and ended up to be our first deal. And it was a live in flip that we spent the next year fixing up and, and, you know, figuring out what's next. But we, we sold it after a year and ended up moving back to Denver. And so it was perfect timing because that was right at the end of 2005. And I think the Phoenix market crashed the next week.   So, so we got out just in time, but I learned a lot on that first deal and then went ahead and just appended and moved markets, which felt like starting over that's that's, that's kinda how that deal went. So   Jesse (7m 58s): Kind of started on that deal. Similar to a lot of individuals were, I guess, somewhat of a, you know, some people call it house hacking where you were living in at the time, but also renting out a, would that be fair to say it was kind of that, that type of arrangement for the first one?   Anson (8m 13s): No, we did. We did kind of a, it needed a lot of work. And so we just decided to move in and fix it while we were living there. We were fixing up stuff, you know, as time and money permitted and by the end of it, you know, it was fixed up and ready to go. And actually my agent w I, I had sent her an email, you know, we had gone to Vegas for our anniversary decided right then that we were kind of just done with Phoenix.   I sent her an email saying, Hey, I think we're going to sell. And she's like, I'll buy it. Like my parents will buy this. Like, she had very much faith that the market was going to keep and she was a little bit wrong on that, but that's okay. Yeah. So she gave us a really good price on it. We ended up making, I think $60,000 on it after a year, which isn't too bad and, you know, had some money to go back to Denver and continue the journey   Jesse (9m 11s): Right on. So was the journey continuing on that kind of operational level where it was value add deals or did you, did you pivot?   Anson (9m 22s): I think I, yeah, it was definitely a value add deals. When I got back, I felt like it was starting over because I didn't have a lot of real estate contacts I didn't have, I didn't know the market. And so, no, I kind of just went back to basics. I started working with investors and agents. I actually got hired on to a real estate agent team and was doing broker price opinions for banks. And right then I just, I figured out this whole thing of bank owned foreclosures and that this could be, you know, a really big thing.   And so, so from then on, probably for the next two years, pretty much everything that I bought was a bank owned foreclosure. So they were all distressed value, add properties that, that had almost no emotion into them because the banks don't care if you low ball them, they just care if it meets their kind of pricing matrix. So that was a fun time to be in real estate for sure. But I got my license maybe a year after I moved back and just kind of did both. I was an agent investor just kind of juggling both things.   Hm.   Jesse (10m 29s): So in terms of the kind of becoming an agent, because you get lots of people that are like, should I get my license as an investor, if you're going to make that switch, did you find it was something that was kind of critical or a nice to have type of type of thing where you still had to develop relationships with host of different agents?   Anson (10m 50s): Yeah. I found it to be absolutely critical to all the real estate that I was doing. Just, just from a, you know, obviously if I'm buying Oreos and my entire existence of finding deals is on MLS. I don't want to be one step removed from that process. I want to be, you know, like a direct actor in that process. And so right in front of MLS on a daily basis to try to find, you know, the deals that I'm looking for, rather than relying on an agent to send them to me, or, you know, go around the back door and give me their log-in or something like that, I could shoot off offers immediately, you know, set showings, do the things that I needed to do to go lock up these deals.   And so for me, it was absolutely pivotal   Jesse (11m 41s): In terms of kind of where you've developed your business today. So you kind of, you go through this process, there's the light bulb moment. You, you see that it's, there's proof of concept when you, you know, in one year you make 60 grand catch us up to today. What, where are you focusing? Not on, not just from a, from a geographical standpoint, but even from a type of asset or type of real estate that maybe you focus on or areas that you focus on.   Anson (12m 7s): Yeah. So, you know, it's kind of ebbed and flowed over the years between wholesales fix and flip. What I'm pivoting towards this year is more longterm buy and hold properties, single family, a small multifamily, those kinds of properties. And so that's a little bit different for me. I'm, I'm used to doing this transactional turn and burn, and now I'm trying to slow down and think for the longterm so that I can, you know, actually have something to show for my effort rather than just, you know, larger pay check, so to speak.   And so, so Ben pivoting in that direction as, as a business and Ben geographically in three different markets this year, just testing things out and getting the ball rolling on long-term cashflow. So that's kind of where we're at.   Jesse (13m 3s): So answered for the actual capital raising side of the business for you or where you source capital has that changed over the, the last few years? And if so, how, how has that evolved for, for yourself?   Anson (13m 16s): It hasn't changed too much once I kind of discovered private money lending before the sec kind of changed their rules, we would kind of just cold call for private lenders, developed relationships with them, had a good track record over time. And so after a while, you know, we would get referred to their friends who were looking to, you know, make, you know, a 10 to 14% return on their investment. And, and so, so yeah, so it hasn't changed too much because we're still using short-term even on these long-term projects we're using short-term funds to, to acquire them and then refinance it now to a more portfolio or, or bank loan style financing.   So I guess that side's new, but when we go into purchase, we're still using like our same private money lenders. They know that they're going to hang on for, you know, three to six months until we refinance out, but that's not too different from a flip where we would hold onto it for three to six months and they would get paid out at the end of that. So, so the, you know, the initial buy is the same. It's just that long-term piece of now it's going to convert into something long-term. So can you,   Jesse (14m 34s): You talked to, to that a little bit for listeners, you know, for that type of approach where you are, you know, getting short term finance, when you have a project going on and then stabilizing after that, maybe you could to kind of run through how that works. And, and, you know, on top of that private lending, I think is a bit of a black box for a lot of people. So, you know, maybe, maybe get your thoughts on that as well.   Anson (14m 59s): What do you mean by black box?   Jesse (15m 0s): Well, I, I feel that a lot of people that aren't in our industry, they hear private money and it sounds like they're meeting somebody in an alleyway and they're handing them a bag of cash. So I think, I think from like, I think for a lot of people, they don't realize how many private lenders there are out there, how many more options you have than just walking up to the bank that you've known for years, or are you, you know, you know, the brand,   Anson (15m 25s): Right? Yeah. So in, you know, I wish it was like an alleyway with a sack full of cat. That'd be kind of fun actually. But typically private lending is just lending from an individual rather than a bank. And so a sophisticated, private lender will operate somewhat like a bank where they, you know, they kind of vet deals. They've vet you, they vet the process. Some even want like a loan application and stuff. Others are very much more relational.   I mean, your next private lender could be your rich uncle or something who really believes in you and wants you to succeed. So it kinda runs the gamut from usually it's, you know, older people who are using the retirement funds. Some people who came into some money one way or the other, it seems like two or three of my guys who I lend or who I borrow from. They all sold a business in their sixties and now have kind of more money than they know what to do with, they see a return of 12% PR and that's very exciting to them.   And so they will lend that to the right person. And so it's kind of, I wouldn't call it a beginner strategy at all, because usually you have to have a kind of a track record. You have to have a reputation for what you're doing for somebody who just is sitting on, you know, even if it's a million dollars, you know, that's two projects in Denver. And so they, you know, lending out their entire million dollars. It has to be to the right person, the right projects with the right track record so that they are secure that bill, you know, end up getting that back.   And so it's kind of private lending in a nutshell. And to your other question for kind of stabilizing an asset, typically we're, we're purchasing with private money, which is for us, it's a hundred percent loan and fix. And so we're, we're into the deal with no money and we go ahead and we get the property fixed up rented, and our next lender wants to see it for at least three months.   We're, we're, we're collecting rent. Everything is stable. Everything's looking good before we can transition that into kind of a, it's a refinance into either a portfolio or, or a conventional style loan. I prefer portfolio, cause it seems just a little easier, but then they, they close on it and they'll pay off the private lender. And so now instead of owing, you know, this individual money, now we own, now we owe this credit union or this bank money and, and pay them.   And it's a long-term note, whereas our short-term private money lender is only like a six month note. So now we have a 30 year note and a smaller payment, so we can actually cash flow.   Jesse (18m 29s): Nice. Yeah, yeah. Obviously the goal there, if we switched to sourcing deals, like we talked about at the outset, it's a, it's a challenging thing to do right now. So it was topical, I guess, that that was in new Orleans. That was your kind of discussion topic, maybe as a comparison, if, if there has been things that are different than when you were starting out, how you were sourcing deals, then as opposed to strategies you've, you've learned and are using now, how has that evolved?   And, and you know, what, what approach are you using given the fact that it just seems like there is so little supply out there.   Anson (19m 7s): Yeah. That evolution has been pretty huge. So like I S like I said earlier, starting off, we did a lot of, we just bought bank owned, foreclosures right off of MLS. And we got really good at that to the point where we also sold REO, but we would buy from other REO brokers. And so we kind of knew the inside process of how asset managers think what different banks did, what, when they did their price reductions, you know, could we get in one day before a price reduction and then get under that price reduction and lock up a property before everybody else saw it.   We got pretty good at that kind of stuff. Once the foreclosure crisis started resolving itself, bailouts and everything else, there was just less foreclosures coming. And I saw the writing on the wall when, on the REO sourcing side, it's kind of the, you know, the, the, the source of the river started drying up and we were both benefiting from that source of the river plus way downstream, when we would pick up deals. It's like, oh man, I kind of see the writing writing on the wall here.   We're not going to be able to find as many deals as we used to. And so at the same time, we were also doing some short sales and looking around there was still, you know, a huge, you know, huge chunk of people who were underwater on their mortgages. And so we just aggressively attacked short sales that were listed and short sales that weren't listed. So we were just going straight after foreclosures basically. And so for about a year or two, we did mainly short sales. Was it, we got really good at that as well of going from the wild west or short sales to when it kinda got standardized and institutionalized.   We saw, you know, everything in that whole window. And then, and then the same thing happened where I started seeing that the market was rising, the prices were rising and not everybody would be underwater forever. And so what do I do next? And from there, we went off market. We, we, we did a little bit more MLS deals we would find, but those really just started getting few and far between, and we needed a bigger source of deals we were doing mainly wholesaling right then.   And so the better source of deals was just to go directly to the seller. And so ever since probably 2014, 15 up until now has been all off market direct to seller. I haven't bought an MLS deal probably three or four years. They just, I don't know. It's just not, not scary   Jesse (21m 54s): Now. Yeah,   Anson (21m 56s): Exactly. So all, you know, basically all off market right now, just going directly to those sellers and seeing if we can help them.   Jesse (22m 4s): So on that, on that note, in terms of the approach that you use with, you know, is it the, of, in the vein of direct mailers, are you kind of going to the secretary of state? Are you going through different software? How are you, how are you reaching out to those? Those would be sellers.   Anson (22m 22s): Yeah. So our main, our main way to reach out and touch them is direct mail. We have just this year started adding in, or I shouldn't say just this year, it was probably 2019, just started stacking in more ways to reach sellers, kind of this, the same lists and in different ways. So if they did respond to the direct mail, we also called them. We also text them. We also emailed them if we could, you know, find them on Facebook, knock on their door, whatever it took to really get in front of the right sellers.   You know, there was a time where you can just send out postcards and, you know, get a 2% response rate, just pick from the best ones. But that just started kind of getting less and less as there was more competition. So now we're reaching out in multiple ways, but direct mail is still our number one.   Jesse (23m 16s): Yeah. You know, it, it's interesting because it comes, I guess, depending on who the sellers are. Like, for instance, if you, if you're really reaching out to predominantly mom and pop, or like you said, small, multi, multi Juarez, you know, I found that the responses are usually better. However, if there's that one layer of say a corporate structure, LLC, partnership, whatever that is, do you, is that also part of the pool that you reach out to? And I guess from there, if it is, you probably have to do that one extra step of, you know, who's the principal who's, you know, who's the signing officer.   Anson (23m 49s): Yep. Yeah. So in Colorado, our, our secretary of state is pretty transparent. So we can go on and search LLCs and find out who, you know, who's the owner where their register addresses all that stuff. So our, oh, I wish I had the number of, of LLCs that we've mailed to, but I have given that over to a VA to go ahead and look those up and just make sure that we're hitting the right people and getting in front of them instead of just setting, you know, XYZ LLC, you know, it's like Paul Jones or something.   So,   Jesse (24m 25s): Yeah, yeah. In terms of the, so for those that are just kind of getting into real estate in terms of finding off market deals, they're coming into an environment that, you know, we we've seen prior to supply constraints, a different approach. Whereas now, because there's so few real estate opportunities out there properties, they were coming into a market where they probably have to start with direct, direct to seller or trying to find off market deals. How would you go about telling somebody who's getting into the industry? How does start building that list?   Anson (24m 58s): I mean, even today, it sounds very, very old school, but I think that are driving for dollars lists are still some of our Mo you know, highest producing lists. And if you want to keep the cost down and you have more time than you have money, I would say, drive for dollars and then cold column, just, you know, skip, trace them or look them up on white pages.com. Yup. And then, you know, send out phone calls. You'll probably, you know, get 50 to a hundred driving for dollars leads a day.   And then, you know, cold column the same day or the day after you'll, you'll keep yourself busy for sure. But it, you know, bang for buck time for payoff, it's definitely the best use of your time to try to find deals.   Jesse (25m 48s): Yeah. A hundred percent, all it really takes is, you know, you do it for a week. If you can hit one, then you know, there's your, there's your week's work right there. Exactly.   Anson (25m 57s): And pretty good ROI.   Jesse (25m 59s): Yeah. A hundred percent. And in terms of your stock, you know, your stock mailer, is it typically, like you said, you know, Hey, you know, Hey Doug Smith and then w what's the typical pitch that you, that you guys employ.   Anson (26m 14s): Yeah. So we definitely try to speak, you know, the ethos or the, you know, the, the makeup of our direct mail is, you know, handcrafted and handwritten. So we want to make sure that we're, we're talking to them down at like a normal level of like, Hey, we're here to help. So it's like, you know, using names, using addresses, using, you know, subdivisions, if we really want to like, like, Hey, you know, Hey, Jesse, we're, you know, we're wondering if you wanted to sell 1, 2, 3 main street, if you've ever thought about selling hassle-free please give us a call.   You know, we don't have any commissions or inspections or appraisals, you know, call us for a no obligation fair offer. And that that's enough of the core of the message to get across of like, Hey, we're here to help. You know, sometimes we'll add in that we're local, you know, we're, we're, we're definitely, you know, not an eye buyer or somebody who's a Zillow or something coming in that we're here to work with them and we have, you know, multiple ways to help them.   So,   Jesse (27m 28s): Yeah. Fantastic. At the end of the day, it's really just getting that phone call. You're not expecting it to get the sale, which it's nice, but not expecting to get the sale on the first touchpoint.   Anson (27m 37s): Right. Yeah, exactly. It's definitely a long game of multiple touches and, and yeah. Building on each other. So,   Jesse (27m 47s): So handsome, we're in a crazy time right now, recording this, you know, coming into the end of, of 20, 21. I don't think anybody could have predicted the last year and a half. How has your business, or how do you see your business evolving as a result of kind of the environment that we've been in, if at all, and, and maybe just prospectively, where do you see opportunities, you know, coming in the new year?   Anson (28m 15s): Yeah. So we're going to continue doing what we're doing for this year, which is, you know, more out of state looking at a state for markets that are conducive to cash flow. Short term rental opportunities is, is pretty big focus right now as well. And then locally, we've been partnering more with other investors because we've had a lot of time spent on the other side, kind of looking at a state. And, and so, you know, looking forward to next year, you know, I think the market's going to just be doing more of the same, can't foresee anything crazy that's going to happen.   And so, you know, we're just kind of to focus on long-term projects and, and even if we're wrong, you know, we still have, long-term more passive, passive things going, so   Jesse (29m 12s): Right on. All right. And so we ask a four questions, every guest before we wrap up. So before I get there, I'm just curious, I've been trying to, you know, for the last month or two kind of taking a poll of, of different real estate professionals I talked to, and I'm just curious your thoughts on number one, inflation, and number two interest rates. And, and I'm not expecting you to have a crystal ball, but I just, I find it funny because, you know, you have asked people, you get four opinions on these topics, right?   Anson (29m 46s): Yeah. So inflation's obviously going to be an issue. I think that Brian, who's the economist who spoke at BiggerPockets convention, had a lot of really good things to say. And pretty much everything that I would kind of repeat of, you know, inflation's a problem. It's not going to be a problem today or next year, but in the next, you know, four years or so, it will probably pop and become an issue.   And as far as interest rates, it's like, I think that they just voted that they're not, they're not going to change at all. And so as long as interest rates stay down and buying, and money is easy, it's just gonna turn, turn the market and keep it going. So buyers will keep buying. Investors will keep investing money right now is probably the easiest thing to get, whether it's hard money or otherwise, and so easy money, hard deals.   So it's going to probably just keep fueling that and, and yeah, just, it, it's kinda hard to say, but I think Brian had a really good kind of outlook on it where, you know, 20, 24 or 2026 is kind of when things will start changing and creeping up a little bit on, on interest rates. And I, I don't know enough about it to disagree. So   Jesse (31m 13s): Yeah, we had a, we had Brian on the show, you can check that episode out. I think it was in the sixties, but he was, he was great if especially if you, if you geek out on, on economics, that's definitely the one that listened to. I love it. Okay. Sweet. If you're ready, we'll fire off these final four questions to ya.   Anson (31m 32s): All right. I'm ready. Right on.   Jesse (31m 34s): What's something, you know, now in your career Anson, whether that's in

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Series: First StepsService: Sunday WorshipType: Bible MessageSpeaker: Phillip W. Martin

Nullifying OSHA mandates won't be easy - but we're already seeing action on the first essential steps in two states. And sources close to the Tenth Amendment Center tell us to expect a number more in the coming weeks. The post First Steps to Nullify OSHA Mandates in Two States first appeared on Tenth Amendment Center.

When navigating divorce our monkey minds are often going crazy. At bedtime our mind chatter makes it hard to fall asleep or stay asleep. We've all been there. With lack of sleep comes inability to think, remember things, and handle our emotions.    If you are in the midst of divorce or navigating single parenthood, you are probably juggling career, money, kids, and life. You may hope that by staying up late and waking up early, you can balance everything. But that just leads to stress and exhaustion which leads to a path towards unhealthy choices.    Sondra Kornblatt is a Certified Sleep Coach and an author of four books. Join us as we discuss how to change your relationship with your mind, body, and emotions using Sondra's 7 Pathways to Rest.    Website: https://restfulinsomnia.com/ First Steps to deeper Rest: https://restfulinsomnia.com/newsletter-signup/ Free consultations:https://restfulinsomnia.com/free-consultation/     Request a Free Jump Start Call at https://www.jbddivorcesupport.com/jumpstart   For more information on Journey Beyond Divorce visit:  www.jbddivorcesupport.com

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The implications of vascular access in hemodialysis go well beyond the vascular access specialist's perspective. Patients and their families have needs that require special resources, education, and consideration. AVA's Judy Thompson and Blake Hotchkiss are joined by Terry Litchfield MPA, CPC who shares her unique vantage point as the wife of a dialysis patient and internationally recognized patient advocate. Dr. Michael Serle DMSc, MA, PA-C joins the podcast as we discuss this vulnerable population of patients and how we can make meaningful differences by educating patients and clinicians alike. A special thanks goes to Medtronic for sponsoring this episode of the ISAVE That Podcast. Check out the latest episode on any of your favorite podcast platforms. For the latest discussion on vascular access, please like and follow us on Facebook, Instagram, Twitter, and LinkedIn! Enjoy the show!0:00 Welcome and Intros1:46 Chronic Kidney Disease2:20 Doing Well Home Care6:19 Terry Litchfield - Patient Advocate 11:55 A Word from Medtronic13:09 Biggest Challenges Faced in ESRD27:26 A Word from Medtronic27:45 Taking the First Steps to Improvement30:42 How We Can Collaborate Better32:53 Collaborating with CKD 3 PatientsSupport the show (https://www.avainfo.org/donations/donate.asp?id=12834)

Jon is an old friend of mine that sees an opportunity to differentiate himself from his competition through online content creation, but is having a hard time getting started with it.  That's why we hopped on a call to:dispel myths about introverts and content creationcreate frameworks for easy content creationtalk about opportunity that content represents for businesses like lawyers, commercial realtors, bankers, and other "chamber of commerce" businessesThis is a great episode for you, if you're having a hard time posting on social media in a way that makes sense for your business!Connect with Jon!On LinkedIn: Jon GassoHis Lawfirm: Gasso Law FirmConnect with ME!    Also, I'd love it if you connected with me on LinkedIn or Instagram. Or shoot me an email at youshould@connectwithpablo.com with the "Heard B2B's's Gasso" in subject. This that's a genius email address?  Me too, but I didn't come up with it.  It was the idea of my good friend, and super talented web designer, Nathan Ruff. If you want your website redone, updated, and managed with unlimited updates for just $250/month (CRAZY GOOD DEAL RIGHT??), go to Manage My Website and hookup with one of the smartest, most talented guys I've ever met- THE Nathan Ruff.OH! and subscribe to Category Pirates.  It's the smartest thing ever. If you email them and tell them I sent you, you'll get a free month.Tags: Support the show (https://connectwithpablo.com)

Hello to you, Erlinda, listening in San Clemente, California! Coming to you from Whidbey Island, Washington this is 60 Seconds for Motivate Your Monday.Long ago in one of the worst times of my life - no marriage, no mother, no job - I was assigned a Prayer Protector. This was a first for me, and I was a first for Erlinda.  In the beginning we shared coffee and conversation; but soon she decided we needed to run. I hate running. And so we ran.  I didn't know that Erlinda was an avid runner and part mountain goat. When she took off on a hill I couldn't catch her; but that wasn't the point. The running was all about getting me to put one foot in front of the other, and keep moving; something I didn't feel like doing. In time, that first mile became a half marathon. In time, I found a way back to myself.Practical tip: Oftentimes the move we need to make looks scary, daunting, painful. What I learned is this: take those first steps anyway. The ones in front of you. Get them over with. Now you have open road. Follow that!60 Seconds is your daily dose of hope, imagination, wisdom, stories, practical tips, and general riffing on this and that. This is the place to thrive together. Come for the stories - stay for the magic. Speaking of magic, I hope you'll subscribe, follow, share a nice shout out on your social media or podcast channel of choice, including Android, and join us next time! You're invited to stop by the website and subscribe to stay current with Diane, her journeys, her guests, as well as creativity, imagination, walking, stories, camaraderie, and so much more: Quarter Moon Story ArtsStories From Women Who Walk Production TeamPodcaster: Diane F Wyzga & Quarter Moon Story ArtsMusic: Mer's Waltz from Crossing the Waters by Steve Schuch & Night Heron MusicAll content and image © 2019 - Present: for credit & attribution Quarter Moon Story Arts 

Join Henry as he goes over the financial first steps for graduating physicians and healthcare workers. In a simple five-step structure, Henry outlines the first five things graduating healthcare professionals should focus on for a pathway towards financial independence.Healthcare professionals spend an exorbitant amount of time and money to obtain their professional education. Unfortunately, while the education system may be sufficient to help prepare healthcare professionals for a career in medicine, it very rarely provides them with the necessary knowledge needed to build a foundation for their financial future. As if not knowing isn't hard enough, having disinformation from sales brokers masquerading as financial fiduciaries make what ought to be simple financial steps even more complex and costly.While this episode is geared primarily for graduating healthcare professionals wanting to structure their financial foundation, the concepts and steps can be easily implemented by any graduating individual who wants to kickstart their path to financial independence.

Mark Bowness – We Build Tribes In this episode we have Mark Bowness with us who is an amazing person to be with. He is the founder of We Build Tribes and here with us today to share his journey alongside with his struggles on building the tribe of his own.  [7:54] Why Should We Listen to you? I'm passionate about building tribes and building communities that really make a bigger difference in the world. Our time matters and it is important the we spend it with the people who are important to us, people that we want to be with and people that you enjoy to be with.                [8:55] How did the path looked like to you?  I came up with a very crazy idea, the idea is to lease a 200-acre Island in Fiji, the other side of the world, then invite people from all over the world online to become part of the tribe I was building. [12:59] Setbacks and things that slow you down I realized I was hitting rock bottom when I began to see the revelation of my purpose.  [14:27] Difference on how you approach opportunities over time I think it's difficult to break the norm of the routine, there are only a few who wants to break away from the norm and approach opportunities differently. [16:43] Transitioning to success  I couldn't stop thinking about the fact that not long earlier, I googled quickest and most painless way to die. It made me realize how many people set their emotions on google. It came to me that we needed to have something where we can set our emotions out or have each other's back and work as a tribe. [18:55] Road block to building a successful tribe I think it is confidence, it really does go back to why would people want to learn from me. it's always the challenge on moving forward and thinking ahead.  [23:45] First Steps on creating a tribe The first place that we teach people to build tribes on is on Facebook groups, we gather everyone, share ideas, and made it a place where you can search and find your communities.  [23:31] What promise did God make to the world when He created you?  I just love being unstoppable in my life and achieving everything that I've been created to achieve. And, and it's an example to show to the world that, we can either just live life mundane. Keynotes: [8:15-8:22] The way to get the most out of that time on planet earth by hanging around with people who matter most to who really connect with us at a deeper level. [13:53-14:02] “There's nothing stopping me from achieving that level of success, I became addicted to finding out what I could do on my own and who I was created to be.” To reach and more information regarding we build tribes follow the group and go to their website:  http://markbowness.com.au/  Facebook group: We Build Tribes

Melissa Graham earned her Bachelors in Music Education from Dallas Baptist University. She taught K-6 general music and directed a 4-6 grade choir for 9 years.  She is currently in her 3rd year as the Early Childhood Music Teacher at Good Shepherd Episcopal School in Dallas, Texas. Melissa also serves as the 2nd and 3rd grade Cantate choir and Orff Ensemble director at a church in Dallas. Melissa holds certifications in First Steps in Music, Orff Schulwerk and Kodaly and is also a Seesaw Ambassador. Contact Info:  mgraham1@gsesdallas.org Seesaw Website   Afternoon Ti Follow me on Instagram: @highafternoonti Blog Have you purchased the Afternoon Ti Book and Journal?!  Get them at Amazon or F-Flat books now. Intro/Outro Music: Our Big Adventure by Scott Holmes  

Baby's First Steps as a Children's Author and Illustrator

So you're ready to get started with affiliate marketing. How do you start FAST? How do you decide to start on Monday and be up and running by Friday? Today, I'll show you how. LINKS MENTIONED IN THIS EPISODE Email Templates - Quickstart Guide to Affiliate Marketing: mattmcwilliams.com/quickstart No Product No Problem: noproductnoproblem.com How to Write a Review Post that Ranks and Converts: mattmcwilliams.com/reviewposts Affiliate Promo Plan: mattmcwilliams.com/promoplan ShareASale: mattmcwilliams.com/shareasale

Are you tired of dealing with the pains of menopause? Dr. Shelly Burns is a doctor of chiropractic, gym owner, and menopause specialist and today, she is going to teach us how to overcome hormonal obstacles. I love this conversation and I know you will too so click play! If you enjoyed this episode, then you will LOVE Shelly's Maneuvering Menopause Summit. Claim your free ticket at https://maneuveringmenopausesummit.com/maneuvering-menopause-summit-2021n7sszym6?affiliate_id=3365507

I am in the early stages of writing my own book, and it is quite an adventure. I have put off writing this for so long because of all the worries I had around what had to be in place before I could write. When I started looking into where to start, I got one piece of advice: “Start by talking to Richelle Fredson.” We made a connection, and now she's my writing coach and consultant on this project. Richelle's going to share all the information I wish I had known before. If you have ever wanted to tell your story but you don't know where to start, we're going to guide you through the mucky misinformation out there, tell you what a book coach is, what they do, and the three different types of book publishing. She also offers three things that you want to do now if you know you want to write a book someday. In this episode, you'll hear…  09:24 - What Richelle did before book coaching 14:23 - What distinguishes a book that has long-term sales 18:15 - How Purposeful Platforms was born 24:42 - What is a book consultant or book coach? 29:13 - The three publishing options and how they are different 37:18 - How to know which publishing model is right for you 45:00 - Teaching what you're writing about 48:27 - Three things to do now if you want to write a book 53:10 - The way the industry has changed, and predictions for the future 57:32 - When to start writing your book RESOURCES: Richelle's Website: https://purposefulplatforms.com/ (purposefulplatforms.com) Follow Richelle on Instagram: https://www.instagram.com/richellefredson/ (@richellefredson) Listen to: https://purposefulplatforms.com/bound-and-determined-podcast/ (Bound + Determined) Apply for Richelle's group program: https://purposefulplatforms.com/blueprint/ (Book Proposal Blueprint) Listen to Episode 5 of On Your Terms: https://www.samvanderwielen.com/episode-5/ (What to Do When a Client is a Pain in the Tush) Read: https://www.amazon.com/Dying-Be-Good-Mother-Parenting/dp/B095L2QK8Q (Dying to Be a Good Mother) by Heather Chauvin Read: https://www.amazon.com/Untamed-Glennon-Doyle-ebook/dp/B07VSZTKJ8 (Untamed) by Glennon Doyle LEARN: Join my https://www.samvanderwielen.com/oyt-workshop/ (free Legal Workshop) “5 Steps to Legally Protect & Grow Your Online Business” here Read https://www.samvanderwielen.com/blog/ (Sam's Blog) for the latest legal tips, podcast episodes, and behind the scenes of building her seven-figure business Listen to our https://www.samvanderwielen.com/customer-testimonials/ (customer stories) to see how getting legally legit has helped 1,000s of entrepreneurs grow their own businesses CONNECT: Follow Sam on https://instagram.com/samvanderwielen (Instagram) for legal tips, business-building advice, and daily food + Hudson pics Like us on https://facebook.com/samvanderwielenllc (Facebook) Follow my podcast, On Your Terms, on https://www.instagram.com/onyourtermspodcast/ (Instagram) so you catch all our episodes Subscribe and follow on all podcast platforms and activate notifications for new episodes https://podcasts.apple.com/us/podcast/on-your-terms/id1576423248 (Apple Podcasts) https://open.spotify.com/show/54rD5CEydcpUITq65RcM9M (Spotify) https://podcasts.google.com/feed/aHR0cHM6Ly9vbnlvdXJ0ZXJtcy5jYXB0aXZhdGUuZm0vcnNzZmVlZA (Google Podcasts) https://onyourterms.captivate.fm/listen (Captivate) FAV TOOLS: https://app.kajabi.com/r/fLP3TYLV/t/6lnttyqz (Kajabi) // use Kajabi to sell your course, program, or even build your entire website. Get a 30-day free trial with my link. https://checkout.samcart.com/referral/wYwf9Zq0/Rv6iUB54jhGTo7RM (SamCart) // what I use for my checkout pages and payment processing and LOVE. And no, not because it's my name. https://convertkit.com/?lmref=SiAv4Q (ConvertKit) // what I use to build my email list, send emails to my list, and create opt-in forms & pages. DISCLAIMER: Although Sam is an attorney she doesn't practice law and can't give you legal advice. All...

This is the first activity most new business owners jump into - naming the business and then creating a logo and brand colors. That makes sense because it's what you see as a consumer and how you identify other businesses. So naturally it's what you gravitate to as the necessary starting point. Perfect. But don't spend too much time here. In this episode you'll get direction on the important first three steps to your branding and then where your focus should go next. It's the NEXT step that will get your business on track to bringing in sales. Join my https://www.facebook.com/groups/GiftBizBreeze (FREE Gift Biz Breeze FB Community) where you'll have the chance to learn and hang out with other inspirational makers just like you. If you found value in this podcast, make sure to subscribe so you automatically get the next episode downloaded for your convenience. Click on your preferred platform below to get started. Also, if you'd like to do me a huge favor - please leave a review. It helps other creators like you find the show and build their businesses too. You can do so right here: https://ratethispodcast.com/giftbizunwrapped (Rate This Podcast) https://podcasts.apple.com/us/podcast/gift-biz-unwrapped/id986323267 (Apple Podcasts) | https://podcasts.google.com/?feed=aHR0cDovL3d3dy5naWZ0Yml6dW53cmFwcGVkLmNvbS9mZWVkL3BvZGNhc3Q=&inf_contact_key=f00b9b282a6156da6dc2e642eb167c2f680f8914173f9191b1c0223e68310bb1 (Google Podcasts) | https://open.spotify.com/show/380HmeoVquMHRzOepaoF0s (Spotify) Thank you so much! Sue Know someone who needs to hear this episode?