Airline pilot Chad Freeman got his start in real estate by purchasing a “pilot crash pad” in New York in 2005. Although he describes it as a “terrible” property, it launched him into the real estate business. In 2015, he decided to take a boot camp course to help him break into the mobile home park industry. Today, Chad is the founder of MHPinvestors, which purchases undervalued mobile home parks in the Midwest. He is a GP of 150 mobile home lots and 47 RV spaces. In this episode, Chad shares what attracted him to the mobile home parks space, what goes into completing a heavy turnaround for an 82-space park, and the toughest lesson he's learned when it comes to adding new homes to his parks. Chad Freeman | Real Estate Background Founder of MHPinvestors, which purchases undervalued mobile home parks in the Midwest. Portfolio: GP of: 150 mobile home lots 47 RV spaces LP of his own syndication Based in: Jacksonville, FL Say hi to him at: mhpinvestors.com Best Ever Book: Am I Being Too Subtle? by Sam Zell Greatest lesson: Other people always have good ideas you haven't thought of. Teamwork and communication are very important and you can't do it alone. Be the first to get the newest podcast episodes sent to your inbox. Plus, investing tips and advice. Join the newsletter https://bit.ly/3OKRktV Want to be a guest on the Best Ever Show?Sign up here: https://www.bestevercre.com/podcast-sign-up Get the latest FREE eBook: An Investors Guide to Growing & Scaling a Business Through Podcasting: https://www.bestevercre.com/a-real-estate-investors-guide Register for this year's Best Ever Conference in Salt Lake City here! Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Trevor McGregor Coaching | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com
Instead of letting it sit in the bank, Deepa Akula put her hard-earned money to work through real estate. Now, she is the founder of Vinside Capital and is a GP for over 1000 apartment units and an LP for over 1300 units. She is grateful for the opportunity to be a full-time real investor, which gives her the freedom to travel the world and spend time with family. Today, Deepa joins us to talk about her investing journey, how she created passive cash flow to cover their daily expenses, and how she is using her engineering background to her advantage. [00:01 - 11:06] From Engineer to Investor Get to know Deepa She talks about the nitty-gritty of being an engineer Earning good money in her job and started to look for investments Being laid off gave her the chance to do real estate full time She learned about real estate by reading books and joining a bootcamp As an engineer, numbers are her thing and she's able to do well in underwriting Do not trust proformas, know your numbers [11:07 - 17:48] Building Meaningful Passive Income Stop hoarding cash and start investing How she transitioned from LP to GP Being a detail-oriented person has helped establish her credibility Deepa's goal in the future: doings deals at her own pace [17:49 - 19:47] Closing Segment Reach out to Deepa! Links Below Final Words Tweetable Quotes “ If you underwrite in a vacuum, you really don't know if it's good or bad… if you're just working and not having anybody check it, it's a big no-no.” - Deepa Akula “The number one thing is not to trust proformas when you receive them.” - Deepa Akula ----------------------------------------------------------------------------- Connect with Deepa on the Vinside Capital website and follow her LinkedIn. Resource Mentioned: Barking Up the Wrong Tree by Eric Barker Connect with me: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook LinkedIn Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → firstname.lastname@example.org Want to read the full show notes of the episode? Check it out below: [00:00:00] Deepa Akula: I had learned about inflation, just very reading books. And I thought, you know, it's not a good thing that we are hoarding cash, but we did not know. We didn't want to hurry and invest in something that we didn't understand either. So in, in the time when I was doing the research and trying to get a proof of concept by investing as a limited partner, we had built up some savings. And once it looked like it was going to work, we kind of invested fast. [00:00:39] Sam Wilson: Deepa Akula is an LP and GP in over a thousand apartment units in Texas, Florida, and Arizona. She's also a former head of engineering turned full-time real estate investor. Deepa, welcome to the show. [00:00:50] Deepa Akula: Thank you. I'm so honored to be here, Sam. [00:00:52] Sam Wilson: Absolutely. Hey, the pleasure is mine, especially. I don't normally get guests calling from, I guess, you're halfway around the world. Where are you right now? [00:01:02] Deepa Akula: I'm in India right now, visiting my parents in Hyderabad. [00:01:05] Sam Wilson: That's awesome. Very, very cool. It's 9: 30 here in Memphis, Tennessee. So that puts you at roughly 8:30 there? [00:01:12] Deepa Akula: It's 8:06, yeah. It's 8:06 PM. [00:01:15] Sam Wilson: Well, soon enough, soon enough you can tell me what tomorrow is like. That'll be absolutely great. I'm looking forward to jumping in here today. There are three questions I ask every guest who comes to the show: in 90 seconds or less, can you tell me where did you start? Where are you now? And how did you get there? [00:01:27] Sam Wilson: Yeah, sure. [00:01:28] Deepa Akula: So I started as an LP. I'm a mechanical aerospace engineer by training. And I was looking to place my capital and started as an LP. And now I still do engineering on the side, but I'm a GP and an LP. And once I invested, I had proof of concept, and once the worth proof of concept, we started investing more and more. And now we have enough passive income to just cover our daily bills. So we are financially free and it gives me the freedom to travel the world and spend some time with family. And also look for deals at the same time. I'm working. This is not a vacation, but freedom of place too. So, yeah. [00:02:08] Sam Wilson: That is fantastic. I wonder there's so many things there I wanted to dig into. What is a space engineer? [00:02:17] Deepa Akula: It's mechanical and aerospace engineering. So Boeing paid for my masters and I worked on the materials for the outside, for the skin of the aircraft on friction stir building. So, yeah, Boeing was looking into using different alloys, different element alloys and it was research. So I was one of the research assistants and that's what I did. I'm a mechanical engineer, got a bachelor's in mechanical engineering, master's in mechanical engineer, space engineering. [00:02:46] Sam Wilson: That's awesome. I love it. Even those words, I probably couldn't even spell those words. So, you know, I look at people like you and I'm like, oh my gosh, she is way smarter than I am. [00:02:55] Deepa Akula: Oh, you're too kind. [00:02:57] Sam Wilson: No, no, that's really, really cool. I absolutely love it. I love to fly. I'm a pilot as well. And so I'm grateful for all the work for that you guys do. And I oftentimes look at it and I'm like, I have no idea how this thing works. [00:03:08] Deepa Akula: A lot of work goes into it. Every life's important. So a lot of work goes into it. [00:03:13] Sam Wilson: A lot of work goes into it, so I'm grateful. Thank you. I think that's absolutely cool. What was your tipping point? What was the thing when you're like, okay, hey, cool. I am a mechanical engineer. I'm an aerospace engineer. I got to do something else. Was there a light bulb moment? Tell me about that. [00:03:29] Deepa Akula: Yeah, so it was pretty gradual. And me and my husband, we moved to Seattle and were making good money. And so I was starting to think about investments. So I just had to place our capital somewhere and I was looking into different investment vehicles and I'm an avid reader. So I stumbled onto syndications. And I did not know anybody that was doing syndications at that time. And looked into it and through a random connection, found a general partner and invested in her deal. And once I started to see the distributions come in quarterly distributions, then I had proof of concept that, oh, well so this is real. And it can work. And we started to invest more and more, and it was pretty gradual. And the light bulb moment was really, there was not one, but I got laid off during the pandemic. And I was like, okay, this is my chance to not have a W2 and work for myself. And that's when, I was a GP already, but I chose not to get another job in engineering and do real estate full-time. [00:04:35] Sam Wilson: Wow. That's a big, big jump. I mean, tell me, I guess, so you said, Hey, you, you figured out, you know, okay, I became a GP. What was the timeline between when you first heard about syndications until you put, or excuse me, an LP until you put your first money in a deal? [00:04:48] Deepa Akula: Oh, when I first put up a single penny, it was about three years. I had analysis paralysis big time. So I actually knew how, how to underwrite a deal before I invested as an LP. So that's the kind of work I did just because I did not know anybody that was doing it at that time, and I did not want to lose $50,000 just by investing because I read in some book. So I took a three-day course, a bootcamp through RE Mentor. And it was just a three-day bootcamp and that was all the education I got in person, but everything else was just reading books. I might have read hundreds of books in those three years and had enough confidence to put my first $50,000 in 2019. [00:05:35] Sam Wilson: That's wild. So you felt like you had a full understanding of how to underwrite a deal before you ever put your money and how did you practice that? [00:05:44] Deepa Akula: So just on random deals on CoStar. Just random deals. So, yeah, and I had a loose mentor who was just looking at those numbers because, you know, if you underwrite in a vacuum, you really don't know if it's good or bad, you know. If you really don't know how to estimate taxes or when the taxes are assessed and different states do it differently, so if you're in a vacuum and just working and not having anybody check it, it's a big no-no. So I had a gentleman that was kind enough to kind of guide me and he's a loose mentor. If you'd ask him, Hey, were you Deepa's mentor? He's like, no,. But I really did not pay for mentorship. I loosely have ties with people that I kind of come in contact with and just ping them and learn. And I used to underwrite single-family homes too. That's kind of how I got interested. I really dislike shopping, like any kind of shopping, but real estate. I'm all about it. So, I'm not in shopping about clothes or anything else, but real estate, I would just underwrite the deal of their deal. So that's kind of how I was like, you know, I should really do what I like. to decompress for a living, then I would really not feel like I'm working. And even without knowing, even when I was in school, I would just randomly look at single-family house in the areas. And I was like, oh, it's pretty simple, the math is. So yeah, that's kind of how I started and learned. And there's a little bit more to multifamily. And, you know, just there's so much resources out there. I would just attend multiple webinars to learn and practice. [00:07:25] Sam Wilson: When you say so many resources out there, I mean, either you're an Excel guru, which wouldn't surprise me, or you borrowed somebody else's model out of the gate because there are a lot of nuances to it. How did you build your first or what did you use as a resource for your first underwriting model? [00:07:42] Deepa Akula: So the very first one was Michael Lang's model. And I had bought it for fun years ago and I was modeling it. And, you know, I am pretty good at Excel because I was, when I was head of engineering, I was building these templates for my engineers to work in. So they're kind of like sandboxes and to make it foolproof because if something goes wrong, these structures are out there. We are driving under it, their houses under it, so, let me take a step back. I was designing overhead structures there, maybe about 10,000 structures that me or my team designed are in service right now in the US and Canada. So I was designing the spreadsheets in which my engineers would design the structures. So I love tinkering with Excel and I saw Michael's model and then made some additions to it to just make it my own. [00:08:38] Sam Wilson: You made some additions, you mean you poured gasoline on a fire. It was like, oh, okay. Yeah, this is okay. But I'm an aerospace engineer and I can do a lot better than this. So, you know, if I can push, I'd love to see your model but I'm sure it would make all the rest of us jealous. That's really, really cool. And you said something here that I don't think I've ever heard on this show, which is you said that I did it for fun. Like, underwriting is work for most of us, you realize that, right? [00:09:06] Deepa Akula: I understand. I understand. But, you know, as engineers numbers is our thing and, you know, you feel like you have more control. You change one number and you have control to like change all the numbers on the sheet. So just playing with different numbers is more fun. And more than that, I used to code in VBA. So coding in VBA was more fun. So I would just code and create buttons and everything and try to make it more fun and easy and I'm trying to hide the code behind it and make it easy. So building it was more fun. And the more formulas I write and debugging is a lot more fun to me. So that's what I, all my formula would, like, have to wrap and then debugging would be like, oh, where, where did it go wrong? Why is it not working? So, yeah. That's what I did to de-stress. [00:09:54] Sam Wilson: That's amazing. Wow. Some of us go to the gym. Some of us do yoga. Some of us have bad habits. You, on the other hand, underwrite multifamily deals. That's a unique skillset. What would you say is the number one thing that you learned when doing that? [00:10:10] Deepa Akula: Number one thing while creating the model or underwriting? [00:10:13] Sam Wilson: Underwriting. [00:10:14] Deepa Akula: Underwriting, the number one thing is not to trust proformas when you receive them. The seller might have expenses that they're putting on a corporate level that we are not seeing on the property level. So just knowing the numbers and at least having an idea of what it's going to cost per door. And that just comes from practice. You know, it's catch-22, you just do it, learn it and then keep doing it and get to learn more. [00:10:42] Sam Wilson: Absolutely. Yeah, at times I wonder why commercial brokers, which, I mean, I have my real estate license. Do I do commercial brokerage? Not necessarily, but why do they even put the proformas out there? Because most of us are just like, I'm not even like paying. [00:10:58] Deepa Akula: Yeah. We just have to underwrite from scratch. [00:11:00] Sam Wilson: It really is true. So yeah. That's really, really interesting. Yeah. I like that. Don't trust the proforma. Let's talk a little bit about passive income to cover your bills. I thought that was an interesting statement you had made, it takes a lot of investments. This is my thesis. It takes a lot of investments to create any sort of meaningful, passive income. I think passive income is great, but even if let's suggest, say that we're, you know, we put 50 grand in a deal and it's whatever, a eight cap, I don't know. I'm making up numbers here, but let's say it throws off, you know, 700 bucks every quarter. I mean, that doesn't really put a dent in the income to cover bills category. Now, how did you do that? Like what did it take to get that income stream built up? You know, we've all hit the equity multiple. I believe most of us have hit an equity multiple in a deal we've passively invested at some point, and those are great pay days. But not until the exit do we normally catch enough money to go, okay, this is meaningful. [00:11:55] Deepa Akula: Right. Right. So me as head of engineering, I'm a licensed professional civil structural engineer. I'm a self-taught civil structural engineer. And as head of engineering, I was making meaningful money. And my husband is in information technology. He's in, it works for wild Disney and pretty simple, like I said, I do not enjoy shopping. So we had good, good savings. And we were hoarding cash. Like I said, as we were starting to earn money through our W2s, it was just sitting in the bank and we didn't spend it anywhere. We're just trying to look for a meaningful vehicle for us to invest in. And by the time I did all my research and started to invest. It was about three years of research went from 2016 to 2019. There was a lot of research and studying and talking to people. And that's when we started investing as an LP. But once we saw the distributions coming in, we kind of really escalated and put in big amounts, big chunks enough to cover our, like, and I'm not even counting the exits. This is just quarterly distributions that I'm talking about. It's enough to cover our expenses. [00:13:05] Sam Wilson: That's really cool. I love I love that and yeah, it does take some capital upfront, I think, in order to attract that initial, you know, nut where you're like, oh, okay, , this is now doing something that that I appreciate. [00:13:17] Deepa Akula: Right. And it was out of necessity. I had learned about inflation, just by reading books. And I thought, you know, it's not a good thing that we are hoarding cash, but we did not know. We didn't want to hurry and invest in something that we didn't understand either. So in the time when I was doing the research and trying to get a proof of concept by investing as a limited partner, we had built up some savings, and once it looked like it was going to work, we kind of invested fast. [00:13:46] Sam Wilson: That's awesome. [00:13:47] Deepa Akula: With multiple deals. [00:13:48] Sam Wilson: You've moved into the code GP space. What's that transition been like and how did that happen? [00:13:54] Deepa Akula: Right. Yeah, no, no. I love it. Thank you for the question. So I was an LP in a couple of deals before I got a call to be a co-GP. And as an LP, I would read the PPM the whole way. Some of them were 80 pages, the other one was 200 pages. And I would read the whole thing a few times and catch some mistakes in it and call the GP and say, Hey, you need to get a better lawyer or the legal person need to like, they're calling a something, two different things in two different places. And I was like, is it the same thing? And they were like, you read the whole thing? I'm like, yeah. And that you know, inadvertently, it told them that I'm a details person. And I would just ask a lot of questions and just from my questions and the fact that they knew I was catching their lawyer's mistakes in the PPM, they were like, okay, so she knows. And when the time came for them, just me and my husband both are engineers. And most of her friends were like, Hey, how are you guys getting this distributions? And we were doing 506B deal. and I wanted to introduce my friends to the GPS, but they couldn't really take their investments because they did not know them. So they were like, okay, Deepa, do you want to raise capital and be on this deal? I was like, really well, I was like when, and they go right now. So it was just out of the blue call saying, Hey, we have a deal on the contract. And I trust this person. I had invested my money with them. So I didn't really have to do any due diligence on the person, on the group. I did some due diligence on the project itself and it looked pretty good. And that's how I got my foot in the door for a co-GP position. [00:15:41] Sam Wilson: That is really cool. I love the fact that you said you read the documents, you know, end to end. I know in my first limited partner's deals, I did the same thing. If it was a repeat investment with the same sponsor, maybe I wasn't as meticulous, but certainly, read line for line. And it's a laborious process. I think it took me like four hours to get through the 200 pages, 'cause you're just like, I need this to be on like napkin sized, this just need, this is what you're going to do, this is what I'm going to do. And this is how we wrap this up. Okay, except 200 pages later because that's the world we live in. And so yeah, it kind of shocked the sponsor as well. They're like, wow. Like, this is a really detailed question. I have a public confession here to make in that I just recently didn't read through the entire stack of my deal deck or of my documents. And it was probably the most embarrassing thing as a general partner I've ever done in that I got the documents back. I read through them high level. It was a new attorney group for us. And I said, man, everything seems to be in order. And I was the receiving call of the investor like you going, Hey, there's some conflicting pieces of information here. I turned inward like, oh no, like I'm hot now, just like my body temperature goes up thinking about it. I'm like I have done this so many times and I have never had that call from an investor. I wanted to crawl on a hole. [00:17:02] Sam Wilson: So note to self: one, read all the documents if you're an LP, and two, read all the documents if you're a GP. That's the rule I think that Deepa is teaching us here and that's yeah, that's just a, you know, that's a hard lesson learned both ways. So, you know, thank you certainly for sharing that, what does the future look like for you? [00:17:19] Deepa Akula: Thank you for that question because I am actively trying to not build myself another high-stress job. So, it's tough. It's tough to not work as much now that this is my first summer without a job. I am trying to say no to more deals than I say yes to. And I'd like to do at least one deal every quarter, and that would be a good pace for me. And want to do that for the foreseeable future. [00:17:48] Sam Wilson: That's awesome. Very, very cool. Deepa. I loved your journey here in real estate. I loved how you started off just learning for three years. I think one of the fun facts you gave me was that you read a book. What was it? The barking up the wrong tree or barking up the right tree. I can't remember. You said you read it five times. [00:18:05] Deepa Akula: Barking Up the Wrong Tree by Eric Barker. [00:18:08] Sam Wilson: Yeah, you said you read that over and over and over until you finally graphed it in detail. As an engineer, I'm not shocked, knowing that you're an engineer, I'm not shocked that your attention to detail is the way it is, but the really cool story on how you've transitioned from an aerospace engineer into now full-time real estate, clearly taking a measured approach to life and getting what you want out of it, which is why you're out of the country doing this podcast at, you know, late in the evening now the other side of the world with me. So certainly appreciate that. And love your story of coming in as an LP first and doing a lot of deals as an LP, and then joined the general partnership side. So very, very cool. If our listeners want to get in touch with you or learn more about you, what is the best way to do that? [00:18:49] Deepa Akula: LinkedIn would be the best place to reach out to me. My LinkedIn profile has my full name, so it's Deepa Reddy Akula. And another place is vinsidecapital.com is my website. So those are the two places to get a hold of me. [00:19:05] Sam Wilson: And what, what's the name of the website again? [00:19:08] Deepa Akula: Vinside, V I N S I D E, vinsidecapital.com. [00:19:13] Sam Wilson: Got it. We'll absolutely make sure we put that all in the show notes. Deepa, thank you so much for coming on today. I certainly appreciate it. [00:19:19] Deepa Akula: Thank you so much. It was such a pleasure. Thanks, Sam.
✨ DEBRIEF ✨ | Ryan & David's Unfiltered Thoughts on the Episode: https://shows.banklesshq.com/p/debrief-rise-of-the-network-state Balaji Srinivasan is an investor, founder, and Former CTO of Coinbase and GP at a16z and author of The Network State, which will be the main focus of the podcast today. The Network State explores ideas surrounding digital communities and the future of how we coordinate as a species. A startup society fosters the emergence of network unions, which evolve into a network archipelago—eventually calcifying into the network state. As we muse about the fate of human systems, we explore mental models for understanding the digital revolution and how we can allow coordination to thrive. ------
Finding better ways to give patients access to the healthcare they need. Ashley Hanger is the founder of Stripped Supply, and Jakomi Mathews is the Founder and CEO of Goto.Health Stripped Supply is Australia's first diabetes subscription box. It aims to address the issue of diabetics running out of supplies. Goto.Health connects patients and practitioners with GP and allied healthcare clinics. In this episode, as part of the LuminaX showcase mini-series, Pete sits down with Jakomi and Ashley, who are going through the LuminaX Health Tech Accelerator Programme to hear what they're up to. This episode explores the age-old issue of appointment setting in Australia in an effort to prevent financial loss and ensure patients are seen. Also, learn about one company that has created a community for supporting diabetics and a system to ensure they never run out of supplies. Check out the episode and full show notes here. To see the latest information, news, events and jobs on offer at their companies, visit their Talking HealthTech Directory here: Goto.Health and Stripped Supply Loving the show? Leave us a review, and share it with some friends. Keen to take your healthtech to the next level? Become a THT+ Member for access to our online community forum, quarterly summits and more exclusive content. For more information visit here.
Does the Island need a Hate Speech or Hate Crime law and what is hate speech? Plus Peel Carnival disabled parking & no routine GP appointments Wed afternoon. It's Mannin Line with Andy Wint #iom #manninline #manxradio
I'm super excited to launch a new segment on inTheir20s called: New Kids on the Block! I'll be interviewing an awesome group of Gen Z builders that I'm extremely bullish on. These builders include: Founders Operators Creators On the segment, we'll dive into their products; competitors; funding history; market dynamics; and unique insights. Blake Michaels is a multi-faceted Gen Z. He's the Chief Evangelist of Lumanu - fintech for creators which recently raised 12M Series A from Origin Ventures & 500 Startups. He's starred in Disney's Lemonade Mouth and Dog with a Blog, which earned 4 Emmy nominations. He also has over 5 million followers on social media. He's now the Co-Founder and GP of Creator Led Ventures, which is an LP base of the world's top influencers. They have an unparalleled insight into the creator market and help founders navigate the fastest-growing customer acquisition channel in the digital space
Finding it difficult to get a GP appointment? Wondering what's going on at your GP practice, or what you can do to manage your wellbeing at home? Reporters Safina and Parvin interview Trafford GP Dr Goga about his experiences as GP before, during and after the pandemic. Not one to be missed!
This is what we're yapping about in this 90th episode! GP's wife max is guest co-hosting this week and she's tackling DIYs for her week. (1:16) GP mentioned their current state of playing it takes two the game. (2:06) Time to get angry with CALL IT OUT! Get mad over early landscapers that bring the noise, The DCEU, and a joint call it out on Sonic's. (3:25) A Bride of a wedding vegan options get Cancelled by the groom and his mother. (10:16) A Woman holds the World record for the longest fingernails. (16:35) Quick Bits! Where we talk real news, real fast! (23:35) Get ready for our Top 5 TV Game Shows! (29:09) Time to hunt with our review of Prey. (34:46) Positive Chakra! (47:57) Yell outs before we head out! (50:12) Rate, Comment, Like, and Subscribe! Want to find more info on the show, check out our link tree https://linktr.ee/Callitlikeidontseeit Shop at https://www.maximumtaste1.com/
Experts are increasingly worried the country's second largest ethnic group is falling through cracks in the health system. Asian Kiwis have some of the lowest cervical and breast screening rates, and are second to last for GP enrolment rates. Reporter Lucy Xia has more.
Who takes on the most risk in a deal? Who provides most of the capital? In today's bonus episode, Dan is going to break down the difference between Limited Partners and General Partners, the two classes of investors within syndications. Remember to check out this video on YouTube at Multifamily Investing Made Simple! Also, if you want daily tips and inspiration, check out our YouTube Shorts and TikTok videos. Learn everything there is to know about Passive Investing and Multifamily Real Estate Investing in under 60 seconds!So... WHO does WHAT in a syndication? What's the difference between the LP and the GP??Find out on this week's bonus episode of Multifamily Investing Made Simple!LEAVE A REVIEW if you liked this episode!!Tweetable Quotes:"Unless you have any kind of partners, you would be doing all the work, doing all the things. Now in a syndication, we divide these things." - Dan KruegerKeep up with the podcast! Follow us on Apple, Stitcher, Google, and other podcast streaming platforms.To learn more, visit us at https://invictusmultifamily.com/**Want to learn more about investing with us?**We'd love to learn more about you and your investment goals. Please fill out this form and let's schedule a call: https://invictusmultifamily.com/contact/**Let's Connect On Social Media!**LinkedIn: https://www.linkedin.com/company/11681388/admin/Facebook: https://www.facebook.com/invictuscapitalventures/YouTube: https://bit.ly/2Lc0ctX
This week my guest is from Australia. Andrew Addie is the CEO of an organisation called Untoxicated which is a registered charity. They are a thriving tribe of sober and sober curious people -passionate about having a laugh, meeting new mates and smashing social norms along the way! In a nutshell they teach people how to socialise without alcohol which for many of us was a whole new skillset In this Episode Andrew recommends telling people - getting on the front foot as he calls it Take charge, tell people in advance that you are a non drinker We agreed that alcohol controls much of the world – it's almost like a cult and operates as a well-oiled machine Big alcohol, governments and the marketing industry - all working together to keep us drinking! Andrew was still recovering from the trauma of coming out as gay and then he had to come out as a non-drinker – which was in fact MUCH more difficult..! If anyone had made homophobic remarks to him as a gay man he always felt he had the weight of the community to support him but when he would explain that he didn't drink he was often met with astonishment and there was no support at all! Andrew explained that research has shown that the LGBQT community do drink much more than the heterosexual community – and much of that drinking is due to a feeling of not fitting in Andrew shared his story about being a binge drinker – his weekends would disappear as he was either wasted or sleeping – and gradually the drinking started creeping into the weekdays.. He went through what he describes as a “perfect storm” – a difficult break up triggered a serious depression. He managed to hold it all together and would set rules – even taking a month off the booze now and again – but then he would go back to it – harder than ever.. We agreed that these sober months (like Dry January) can sometimes be counterproductive – people tend to white knuckle their way through them, there are few real benefits and the subconscious mind just registers sobriety as a miserable place to live. I certainly used to do Dry January every year just to prove that I didn't have a problem – and then like Andrew I would make up for lost drinking time the following month! With years of sobriety under our belts we can testify to the numerous benefits of not drinking – but you have to keep going longer than a month to experience them. Going back to Andrew's story he started to work on his mental health – he went to a psychologist but refused the advice to stop drinking – he started to take anti depressants to cope. Anti depressants and alcohol are not a great mix and Andrews drinking grew worse and he had a breakdown. Through sheer luck he met a GP who got him into a program – he did a home detox under supervision from a clinic, used medication to help with the withdrawal symptoms and got through a couple of months of sobriety. It really struck me when he said that he felt OK sometimes – instead of feeling dreadful all of the time I heard a lady in our community say that it was so nice to wake up in the morning feeling ok instead of terrible… It's amazing how we get used to feeling rubbish every morning and just kind of accept it! Just because we have to give in to that urge to drink that hits us during the day… Andrew began to participate in sober online communities which he found really helpful for sharing tips… Then he saw an Untoxicated event – he was very nervous but went along anyway There were about 20 people with nothing in common but their struggles with alcohol – he discovered that magic connection – he'd found his people Like me Andrew went through a bit of a low in early sobriety – he tried to hang out with the same people but started getting bored It was time to find new interests – Andrew got into swimming and eventually took over Untoxicated as their CEO We have both discovered the joy of connection and of helping others! You can follow Andrew on Instagram untoxicated_aus I know we have some listeners in Australia so why not go to the website which is untoxicated.com.au and check out the social events.. More Info Subscription membership – you can join up HERE. To access our website, click HERE. If you would like a free copy of our “Annual Tracker” or our e-book 66 Days to Sobriety, please email email@example.com. If you would like to come to our Saturday afternoon Zoom Cafe as a guest and meet our community, just email firstname.lastname@example.org. Episode Sponsor This episode is sponsored by the Tribe Sober Membership Program. If you want to change your relationship with alcohol then sign up today Read more about our program and subscribe HERE Book a Discovery Call with me to find out if our membership would help you Help us to Spread the Word! We made this podcast so that we can reach more people who need our help. Please subscribe and share. If you enjoyed the podcast, then please leave us a 5-star review on Apple podcasts. Take a screenshot of your review, and DM it to Tribe Sober's Instagram page – see PS below for instructions. We'll send you something special to say thank you! We release a podcast episode every Saturday morning. You can follow Tribe Sober on Facebook, Twitter, TikTok and Instagram. You can join our private Facebook group HERE. PS: How to Leave a Rating/Review in Apple Podcasts (on an iOS Device) Open the Podcasts app. EASY. Choose “Search” from the bottom row of icons and enter the name of the show (e.g. Recover Like a Mother) into the search field. Select the show under Shows (not under Episodes). Scroll down past the first few episodes until you see Ratings & Reviews. Click Write a Review underneath the displayed reviews from other listeners. You'll then have the option to rate the show on a 5-star scale and write a review (you can rate without writing too but it's always good to read your experience).
It's hoped that GP services at the new €2.2m Drumcliffe primary care centre in Drumcliffe will be operational in coming weeks. The HSE has indicated to local Clr Donal Gilroy that negotiations with the GPs are ongoing, and Clr Gilroy says the GPs want everything to be right before they make the move
AJ Klenk entered real estate in the middle of the Great Recession in 2009 with a dream to eventually build schools internationally in developing countries. Today, he is the founder and owner of Capstone Companies, the country's largest privately owned multifamily apartment brokerage. He is also a GP of more than 2,000 units, owns a multifamily development company along with multiple restaurants, and just returned from building a school in Nicaragua. In this episode, AJ shares his tips for cultivating a winning team and discusses how his success is helping him achieve his ultimate dream of giving back. AJ Klenk | Real Estate Background Owner of Capstone Companies and Catalyst Capital Partners, a multifamily development company. Portfolio: GP of 2,000+ units, and currently has 18 multifamily projects in motion at various stages. Also the owner of multiple restaurants in the Carolinas. Based in: Charlotte, NC Say hi to him at: Facebook Instagram LinkedIn Greatest lesson: Grow your business where you feel real value can be created and where a positive impact can be had on others. Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Trevor McGregor Coaching | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com
Seg 4: GP and Geoff Calkins discuss a variety of topics including the breaking alex Jones verdict, Cain Velasquez, LIV Golf and more Seg 5: Breaking story surrounding actress Anne Hech Seg 6: Dinner to Go with what we're checking out this weekend
On today's show: We end homelessness week by talking to John Carey, the WA minister who's job it is to fix the issue There's a GP crisis in Perth Our mate Geof Parry is back in the studio News with Matt Tinney Wild West with Kate Ryan See omnystudio.com/listener for privacy information.
There's been talk around town that GPs in WA have been contacting patients to advise that bulk billing won't be available anymore. This comes as WA experiences a crippling GP shortage. To explain is Chair of the Australian Medical Association's General Practice Group Dr Simon Torvaldsen.See omnystudio.com/listener for privacy information.
Y volvió a fallar Ferrari, qué sorpresa, Verstappen y Mercedes bien que lo aprovecharon en el GP de Hungría. Pero... recién comenzado el parón vacacional, silly season a todo trapo. Métodos de contacto: Web | Twitter | Grupo Telegram O mándanos un mail email@example.com
Podcast Loucos por Automobilismo em vídeo #244 de 4 de agosto de 2022, onde respondemos todas as perguntas que a confraria fez para nós! Neste Podcast, Bruno Aleixo, Fabio Campos e Adauto Silva procuram tirar as dúvidas dos confrades sobre a Fórmula 1, as últimas das equipes e pilotos depois do GP da Hungria em Budapeste de F1 do último domingo. Um papo entre os amigos da Confraria do Autoracing! Deixe suas impressões, diga o que achou! Assista esse Podcast no nosso canal no Youtube clicando no link ao lado: https://www.youtube.com/channel/UCQaAEA2FnZeY5ew6Kl6Kw4A
Holy shit. What a goddamn week, and one of the most newsworthy coming off a GP we've ever seen. This is a 75 minute special on all of the drama that came in and around the Hungarian GP. It all started with Sebastian Vettel announcing his retirement, which of course, we all pay tribute to on the show after one of the sport's most legendary careers and remarkable turnarounds in his reputation. It's a fun time. Of course, the aftermath of that has had all hell break loose. Fernando Alonso from outta nowhere swooped in and took that seat off the back of the 41-year old wanting a second year guaranteed that Alpine wasn't prepared to give. And man did he give his current boss shit for it on Instagram. And then, just when you think Oscar Piastri coming in for Alpine was a no-brainer... he rejects it after talk surfaced about a possible handshake deal with Zak Brown at McLaren. Again. Like, what are we doing here?! All of that chaos, drama, and permutations broken down in the first half of the show. We do talk the race itself, and Max Verstappen absolutely seal-clubbing the field from 10th on the grid, despite spinning in the latter stages. A morale-shattering blow to Ferrari, who screwed up again by putting Charles Leclerc on the hard tyre and watching a gimme of a race win become 4th and 6th. Oooft. Cam blew a gasket on this one, let me tell you. We also talk about the sport's new #DriveItOut campaign against abuse in the track and online. The sport seems to have genuinely made steps in the right direction but the online issue is one that they seemingly might not be able to handle. We discuss at the end of the show. All that and more on an absolutely LOADED M101!
Seg 1: Discussing the news that Brittney Griner has been sentenced to 9 years in Russian prison Seg 2: Audacy Sports Legal Expert Amy Dash on Brittney Griner, Deshaun Watson and more Seg 3: Coach Cal wont play at the Kennel, big MLB series, and Bennett gets GP excited for tonight's HOF Game
Breathing is a crucial part of our lives, yet many of us don't realize that we're not doing it properly! Mel helps adults and children to correct this, and changes lives along the way. In this episode she talks about how to work on breathing and even teaches us a few different techniques!
*Recorded in June 2020 - Summer Replay* In this episode Lisa and Sara talk to Dr Avril Danczak, a GP with an interest in managing uncertainty in medicine which led to her co-authoring the RCGP published book called Mapping Uncertainty in Medicine. We cover what uncertainty is, and why it is important to address this within medicine and general practice. We talk about ‘what to do when you don't know what to do', how to classify and identify different forms of uncertainty and then think about how you can go about addressing and managing this uncertainty in a structured way. Useful resources: Book: Mapping uncertainty in medicine, what to do when you don't know what to do; Avril Danczak, Alison Lea and Geraldine Murphy (2016): https://www.amazon.co.uk/Mapping-Uncertainty-Medicine-What-When/dp/0850844053 Paper: Varieties of uncertainty in medicine; Paul Han, William Klein and Neeraj Arora (2011): https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3146626/ Paper: Dealing with uncertainty in general practice: an essential skill for the general practitioner; Margaret O'Riordan et al: https://pubmed.ncbi.nlm.nih.gov/21781433/ Bradford VTS Resources on decisions, diagnoses and uncertainty: https://www.bradfordvts.co.uk/clinical-skills/decisions-diagnoses-uncertainty/ ___ We really want to make these episodes relevant and helpful: if you have any questions or want any particular areas covered then contact us on Twitter @PCKBpodcast, or leave a comment on our really quick anonymous survey here: https://www.surveymonkey.co.uk/r/YLN6GKT ___ This podcast has been made with the support of GP Excellence and Wigan CCG. Given that it is recorded with Greater Manchester clinicians, the information discussed may not be applicable elsewhere and it is important to consult local guidelines before making any treatment decisions. The information presented is the personal opinion of the healthcare professional interviewed and might not be representative to all clinicians. It is based on their interpretation of current best practice and guidelines when the episode was recorded. Guidelines can change; To the best of our knowledge the information in this episode is up to date as of it's release but it is the listeners responsibility to review the information and make sure it is still up to date when they listen. Dr Lisa Adams, Dr Sara MacDermott and their interviewees are not liable for any advice, investigations, course of treatment, diagnosis or any other information, services or products listeners might pursue as a result of listening to this podcast - it is the clinicians responsibility to appraise the information given and review local and national guidelines before making treatment decisions. Reliance on information provided in this podcast is solely at the listeners risk. The podcast is designed to be used by trained healthcare professionals for education only. We do not recommend these for patients or the general public and they are not to be used as a method of diagnosis, opinion, treatment or medical advice for the general public. Do not delay seeking medical advice based on the information contained in this podcast. If you have questions regarding your health or feel you may have a medical condition then promptly seek the opinion of a trained healthcare professional.
Welcome to the podcast! Episode 166 is an interview with Erchana Murray. Erchana is running a marathon every day, making my way from the tip of mainland Australia (Cape York) to the toe (Melbourne) that's 155 consecutive marathons for a total of 6,200kms to spread a very important message - Extinction is a CHOICE. That's right, 150 consecutive marathons to be the voice for our native animals. Erchana is aiming to raise $62,000 and has added some stakes to her run: if she doesn't finish it in 6 months or less she will be returning all donations. That's awesome confidence!! Don't forget, If you are in the Melbourne area to get down to Lilydale Lake on a Tuesday evening at 6.30pm to take part in Run club! We have lots of fun, with sessions designed to develop speed, strength and improve form. And we're a fun bunch too. The first session is free, we would love to see you there! Don't forget to use the code ISOBELROSS (all caps, no spaces) to get a massive 15% off at Peak Chocolate. I simply cannot recommend their products highly enough. I'm sure you'll love them too. Gp to their website peakchocolate.com If you want quality personalised coaching, email me firstname.lastname@example.org. It doesn't matter what level of runner you are and what your race plans are, I can help you achieve your running goals. I would love to hear from you! Don't forget to rate and review the podcast. I don't get paid to do this, seeing more people enjoy it is payment for me. And that happens when people rate and review because it increases the exposure of the pod. I appreciate your help! Enjoy my chat with Erchana! Erchana's website is here: https://tiptotoe2022.com/ Are injuries or niggles ruining your enjoyment of running and hindering your performance? Get on top of these and see the specialists at Health and High Performance. Utilizing the latest in technology, and with a wealth of experience, the team at Health & High Performance can assist you with all your running injury & performance needs. So to get back to enjoying your running and achieving the results you are capable of, head to or find them on Instagram Healthhighperformance. Health and High Performance are located in Mont Albert, Melbourne but are available for Telehealth appointments not only Australia-wide, but also around the world. Contact them on their website here to find out more.
This week on For The Love Of MotoGP...Tim and Steve discuss the limited MotoGP news, before diving into their Silverstone race preview!- Portugal to hold the opening race of 2021- Valentino Rossi's giant record-breaking helmetEnjoyReference material for this episode came from: crash.net, motogp.com, the-race.com, motorsport.com, visordown.com and the minds of Steve and Tim. MotoGP Fantasy League - https://bit.ly/3tiajDqMotoGP flags – https://bit.ly/3BHkLYOJoin us in the For The Love Of MotoGP Facebook Community - https://bit.ly/34tqCVwYou can also find us on Instagram and Twitter @fortheloveofmotogp or you can reach us by email on email@example.comThanks for listening!
Seg 1: Remembering the Legend Vin Scully Seg 2: CBS Sports NFL Reporter Tyler Sullivan Seg 3: LIV Golf players sue the PGA, GP has some info on Kentucky/Gonzaga, plus a bad thing happened to a bad dude today in court
In this episode, two of GP's automotive thought leaders, Scott McCormack and Lawrie Martin, down for a discussion on the... The post Episode #90 | Overcoming the Automotive Technician Shortage appeared first on GP Strategies Corporation.
Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.This week we are joined by Ravi Viswanathan, Founder and Managing Partner of NewView Capital, a growth and secondaries focused fund founded in 2018 with over $2.2 billion under management. NVC invests in technology companies through both direct investments and curated portfolio acquisitions, pairing funding with significant operational support. Focusing primarily on growth-stage companies, the NVC portfolio includes Plaid, Duolingo, Forter, Hims & Hers, MessageBird, and Scopely.Ravi brings a wealth of experience around growth and secondary markets to the conversation, and it was really fun to discuss both of those areas in detail, particularly in light of the change in the markets over the last year. First, a word from our sponsor:Allocate is the digital operating system for investors looking to build and manage world class private portfolios within venture capital and other technology focused private assets. Despite the enormous growth of the private markets and the rapid increase of retail demand for private alternatives, investing in the highest quality private assets within the innovation sector remains inaccessible and opaque.Go to allocate.co to apply to be a member and join 400+ active Allocate users. About Ravi Viswanathan:Ravi is an experienced company builder and dedicated partner to entrepreneurs and investors. In 2018, Ravi raised $1.35B to architect an innovative portfolio acquisition of 31 companies from NEA to found NewView Capital (NVC).Prior to founding NVC, Ravi was a General Partner at NEA, where he oversaw investment in enterprise software and fintech companies and co-led the firm’s Technology Venture Growth Equity effort. His investments of note include Braintree (acquired by PayPal), MuleSoft (acquired by Salesforce), GlobalLogic (acquired by Apax Partners), TeleAtlas (Euronext: TA, acquired by TomTom), Cyence (acquired by Guidewire), Acquia (acquired by Vista Equity Partners), Scout (acquired by Workday), Plaid, and Forter. Ravi spent several years at Goldman Sachs in the Private Equity Technology Practice before joining NEA. He began his career in consulting at McKinsey & Co and as a scientist at Raychem Corporation.Ravi holds an MBA from Wharton, a PhD in Chemical Engineering from University of California Santa Barbara, and a BS in Bioengineering from the University of Pennsylvania. He is also the Chair of the Wharton Entrepreneurship Advisory Board.In this episode we discuss:01:29 How the 2022 downturn compares to 2000 and 200803:20 The effect of market conditions on growth investing06:51 Why VCs keep making the same mistakes in bull markets and factors that lead to the most recent one09:22 What led to the launch of NVC in 201813:24 How Ravi sold the unique structure of NVC to founders and LPs15:55 Team building through the transition into NVC18:51 How Ravi managed communication around his conviction to close20:45 Navigating different LP considerations when putting together NVC23:38 What the next 6-12 months will look like in the venture markets28:06 State of the secondary markets in 202232:15 The stigma of selling positions early as managers and LPs35:50 The types of firms that are well-positioned for success in the current marketI’d love to know what you took away from this conversation with Ravi. Follow me @SamirKaji and give me your insights and questions with the hashtag #ventureunlocked. If you’d like to be considered as a guest or have someone you’d like to hear from (GP or LP), drop me a direct message on Twitter.Podcast Production support provided by Agent Bee Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com
“All societies have drugs that they're okay with and they draw these lines and they draw them in ways that can seem very arbitrary,” says Michael Pollan, New York Times–bestselling author of This Is Your Mind on Your Plants and host of the new Netflix series, How to Change Your Mind. GP interviewed Pollan about the relationship between humans and plants and how he initially became interested in psychoactive plants as an avid gardener. They talk about the value of caffeine, what surprised Pollan while studying opium, what was unearthed for him during a powerful psilocybin experience, and why he believes MDMA is useful for couple's therapy. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Glasgow, 2015. When Valium addict Felix McAveety's best friend Marina is found murdered in the local park, he goes looking for answers to questions that he quickly forgets. In a haze of uppers, hallucinogens and diazepam, Felix enlists the help of a brilliant but mercurial GP; a bright young trade unionist; a failing screenwriter; semi-celebrity crime novelist Jane Pickford; and his crisis fuelled downstairs neighbour Donnie. Their investigation sends them on a bewildering expedition that takes in Scottish radical politics, Artificial Intelligence, cults, secret agents, smugglers and vegan record shops. Meantime is a picaresque detective story set against the backdrop of post-referendum Scotland. Frankie Boyle's compelling debut novel is a tale of murder and revenge, and of personal and political loss.
Today let's welcome Christine Hsu, Christine is a former R&D Product Research Scientist in the Food & Beverage Industry turned Real Estate Investor focusing on multifamily properties. Looking to connect with other active and passive investors, brokers, lenders, and professionals in the real estate industry. Let's learn more about Christine's journey, with no further ado let's Dive in [00:00 - 06:05] Former food scientist turns real estate investor, Christine Hsu is a former R&D food scientist and researcher turned real estate investor. She started with a Single-family rental and then very quickly scaled to multi-family. Alongside, she was investing as a limited partner and was doing rehabs and leasing She considers it a parallel path for food and real estate as it is a basic need for humans to have these commodities. She is currently doing larger deals. [06:05 - 12:03] How to Scale Your Commercial Real Estate Portfolio Christine has faced challenges scaling its commercial real estate portfolio, including high-interest rates and volatility in the market. For Christine scaling is all about mindset, and, it revolves around setting goals and surrounding herself with people who are already successful in the industry. By learning from those who are already successful, Christine was able to scale their portfolio quickly and reach their goals. [12:04 - 17:45] Surrounding yourself with successful people. Successful people are busy and don't have enough time to do small talks But being a limited partner in their deals, Christine was able to take advantage of observing how they handle their deals. And if there are chances, she would utilize the time to ask them as many questions as she can to learn. Christine shared that during the pandemic when everything went virtual, she was able to connect to people in the industry. She adds that recently just by networking they were able to close a deal She shared that what changed her mindset was the book “Who Not How” by Dan Sulivan. For Christine, everybody is leveraging each other and it's a team sport. [17:06 - 19:28] Closing Segment Reach out to Christine Hsu Links Below Final Words Resource Mentioned: Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork Tweetable Quotes “It's a team sport everyone's working together. So for me, it was leveraging people who had more experience than me to get me where I wanted to be, as opposed to just figuring out how to do it. It's just, finding the who's that can get me there.” - Christine Hsu ---------------------------------------------------------------------------- Connect with Christine Hsu on LinkedIn and visit their website at noblivest.com Connect with me: Facebook LinkedIn Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → firstname.lastname@example.org Want to read the full show notes of the episode? Check it out below: [00:00:40] Sam Wilson: Christine Hsu is a former R and D food scientist and researcher turned real estate investor. She started with a single family rental and then very quickly scaled to multi-family. [00:00:49] Sam Wilson: Christine. Welcome to the [00:00:50] Christine Hsu: show. Thank you so much, Sam, for having me. I'm excited to be here. [00:00:54] Sam Wilson: Pleasure's mine. There's three questions. I ask every guest who comes on the show in 90 seconds or last, can you tell me, where did you start? Where are you now? And how did you [00:01:01] Christine Hsu: get there? Yes. So I started my career as a food scientist, as you mentioned in the intro. [00:01:08] Christine Hsu: And then wasn't feeling the corporate world. So went into real estate and brought me a lot of freedom for myself and my family. And, Now I'm moving into multifamily looking not just a multifamily, really commercial real estate and expanding and hopefully diversifying from from there. [00:01:23] Sam Wilson: So got it. [00:01:25] Sam Wilson: Now, what is a food scientist? [00:01:27] Christine Hsu: So, if you go to the store on the shelves, there's a lot of manufactured foods behind all of that is the technical part of a food scientist that formulates those food products to make it scalable and can be mass produced. That's my background. [00:01:42] Christine Hsu: There's a lot of engineering, biology, chemistry behind that. And yeah, so my specialty, when in my career was actually a sensory. So I studied how people perceived how they experienced food through their five senses and measured it through statistics and research. So it was really interesting. [00:02:04] Sam Wilson: I'm sure. I'm sure it is. So you were part of the team responsible for making that awesome lime flavor on those todos lime chip. That probably has no lime in it. I'm assuming, but uh, certainly tastes like lime. [00:02:17] Christine Hsu: Yeah. It has lime flavors that are extracted from actual limes, but they put it into a powder and they spray it onto the chips. [00:02:24] Sam Wilson: Yes. That's just wild and crazy. I love it. Very cool. But you said, Hey, I'm not loving this, let's get into real estate. what gave you the real estate bug? [00:02:33] Christine Hsu: Yeah, so, I mean, I loved what I did. I just didn't like the corporate culture and, Just being in a corporate environment, it felt a little bit to me like stifling. [00:02:42] Christine Hsu: It was just you how to show up to work every day, eight to five, at least if not more, when you had projects that required more attention. And even on the slower days where there's less projects, you still had to show up eight to five. So, I feel like there wasn't as much flexibility and really what hit the nail on the head was when I had kids young kids, I was. [00:03:01] Christine Hsu: I would rather be at home watching my, six month old play than be here and do this stuff. So , I decided actually I asked my stuff. I was like, well, what can I do where I can still replace my income, bring home Bring home income to my family, but still have that flexibility and landed on real estate. [00:03:21] Christine Hsu: And actually a lot of arrows pointed to real estate as being an advantage, including tax benefits that also, brought a huge benefit to our family. So that's kind of how I landed [00:03:30] Sam Wilson: there. How long did it take you to go from single family to multifamily? [00:03:34] Christine Hsu: Yes. It took about, well, it was a little bit of both because when I became a single family investor, I did the birth strategy in parallel to that. [00:03:44] Christine Hsu: I was also investing as a limited partner alongside all the active stuff that I was doing with rehabs and leasing and all that stuff. I had set aside money to put, to work on the. Passive side as a limited partner so that, that can make me money too. So it was two, it was a parallel path. [00:04:00] Christine Hsu: I mean, I would say I was always involved in commercial and really I was had the intention of going that direction, but wanted to watch from the sidelines first to see the real, the big time experts how they run their show. And then it took about maybe a year. A year or two about a year and a half before I said, okay, I'm gonna go active into syndications in multifamily. [00:04:22] Sam Wilson: Gotcha. That's that's really cool. I love that. Tell me, if you have a background in, measuring how people perceive and taste food, right? Like that's yeah. That's a very nuanced skill. What are some parallels you see in between what you learned as a food scientist, doing what you did there to, how you approach your multifamily investments. [00:04:42] Sam Wilson: Are there any [00:04:42] Christine Hsu: parallels? There are definitely parallels because I think both meet the basic need of human beings. You've got food and you've got shelter. And I like to focus on those, you invest in things that will change lives. I think that was something that I heard recently, a quote. And they are things that we need. [00:05:00] Christine Hsu: So I feel like recently now I'm, I'm starting to raise some capital for some larger deals. It's all about meeting a need. And I feel like there are a lot of people out there who are, making decent incomes. They don't have time to be active investors, but they do wanna invest passively and all they know is the stock market. [00:05:23] Christine Hsu: So no one's really told them that they have other opportunities beyond that in alternative assets. And. I've met a lot of investors where, it's the need that's already inside of them. I said, Hey, look, you can invest in real estate and have all the advantages of real estate. And do it passively while you focus on your career still and not have to be so hands on, you don't have to be flipping houses. [00:05:43] Christine Hsu: And changing out toilets, you can do this on the side and still get really great returns. And I've had a lot of investors. Convert to being at an LP very, very quickly and just, a couple of meetings. These are people that I know personally who ask, what are you doing now? [00:05:59] Christine Hsu: And I tell them, I invest in real estate and I actually allow others to invest with me. And they're like, oh yeah, tell me more. So I feel like there's some parallels there because there's a need that is being met. Whether it's. Food housing, or just having additional investment opportunities to bring in passive income and even bring wealth generational wealth and a legacy to their families. [00:06:23] Sam Wilson: Yeah, absolutely. What are some challenges that you have faced in scaling a commercial real estate portfolio? [00:06:30] Christine Hsu: well I think I started in 2020 and the real estate world has seen a lot of. Very high ups and now we're kind of going on the downside. I, some of the challenges I face is just. The volatility of the market. [00:06:47] Christine Hsu: Just in the time that I started and I wouldn't say it's a challenge, you kind of just go with the flow. It's almost like you're in the Rocky rapids, like choppy rapids of the waters. You kind of just have to, clinging on and go with the waves. And so really, there's things that I feel like is a little bit. [00:07:06] Christine Hsu: Stable. Although real estate is still very stable asset, but just the ups and downs. It's been a little bit challenging for me. someone who started newer to kind of keep track of it, but it's also exciting too, because I get to see a lot happening. And really even. When the world is concerned, that's the best time is there's always opportunity in those kind of Rocky moments. [00:07:29] Christine Hsu: So I'm excited to be a part of it. And really it's all about making sure that you're taking measured risks with contingency. And building that into all of the underwriting. [00:07:39] Sam Wilson: When you say measured risk with contingency what is, what comes to mind when you say that. [00:07:43] Christine Hsu: so, the interest rates are going up substantially and very quickly. [00:07:48] Christine Hsu: So it's making sure that the numbers are writing in higher interest rates and having that sensitivity analyzer, really Making sure. If it goes like extremely high to like maybe 9%, 10%, what would that look like? And just being prepared for any scenario that happens. Like, I don't think that's going to happen really just based on historical data, but you know, if it does, you never know, it's like no one has that crystal ball. [00:08:14] Christine Hsu: But you have to be prepared for some, for something like that. [00:08:17] Sam Wilson: Absolutely. Absolutely. Tell me about when I say the words, how to scale, like, what advice would you give to somebody. Or what advice would you give to yourself two or three years ago that you would say, Hey, this is what I would do. [00:08:29] Sam Wilson: If I wanted to grow my commercial real estate portfolio as an active investor, what would you say? [00:08:35] Christine Hsu: Yeah. So for me, actually it's a little bit different. It's about mindset. Scaling is all about mindset. And for me, I have to sit down and be like, well, why do I want to scale? what is my goal at the end of the day? [00:08:47] Christine Hsu: So I really looked at those goals and kind of work back. And scaled, according to what that end goal is. So it could be anything like, okay, for myself and my family, I wanna cash flow $10,000 a month. Or I want to expand my portfolio to, a thousand units or 500 million dollars of real estate on assets, under management. [00:09:08] Christine Hsu: These are just goals. And I feel like once you have the final destination in sight, you can work backwards to really. Define what those milestones are. to get to that end goal. So for me, it's all scaling is all about mindset. I think it's easy to just, keep going, but really not know where you're going or I'm speaking for myself. [00:09:30] Christine Hsu: So I really had to be very clear on what that end goal [00:09:33] Sam Wilson: was. Got it. I love that when you set that end goal. So, so now you determined your, why was there anything inside of you that said that's not possible or I that's for somebody else? Not me. [00:09:46] Christine Hsu: Oh, of course. I mean, Limiting beliefs are just, it's natural. [00:09:50] Christine Hsu: We always have them. And I definitely did. But I feel like for me, it's like surrounding myself with people who are already there. Really helps me get there to say, I, yeah, it's daunting. I might just be starting out or new, newer in the business, but if they can do it and they're alongside kind of helping out and I'm asking them for advice, I could get there too. [00:10:14] Christine Hsu: And probably in a similar timeframe. Cause I've been surrounded by so many people, just really talented, smart people who have gotten to. Goals in just a few years and I'm like, wow, how do they do it? And so it's just not being shy and really reaching out to them being like, Hey, how can I bring you value? [00:10:33] Christine Hsu: And how can I just learn from you [00:10:35] Sam Wilson: too? Right. And that was my next question. How did you go and surround yourself with people? Just put a flag out. That's, I want myself with really cool, smart people that are. Picking button taking names in real estate. Obviously it's not [00:10:46] Christine Hsu: what you did. [00:10:47] Christine Hsu: What did you, yeah, no, I wish it was that easy, but these people don't have a lot of time to, you know, to talk to you if you just put out a flag. So for me as I mentioned earlier, I started off being a limited partner in their deals. Even if I didn't have a lot of one-on-one time to ask them like, small, silly questions, I just watched, I observed what they did, how they handled their business. [00:11:10] Christine Hsu: How they acquired real estate, how they work with their investors and learn from that. And of course, they have people on their team to, that are available, their investor relations team. You can ask them as many questions as you want. I feel like they're an open door because essentially they have to be so, just utilizing their resources that are available for their investors being one of their investors in learning from them was the easiest way that. [00:11:34] Christine Hsu: I was learning from them and [00:11:35] Sam Wilson: observing. Yeah. And it's funny you and I took a similar path on, on, to, to that. I CA I came into commercial real estate, like you did first as limited partner. Yeah. And I recommended that countless times of people, like, what would, what's the first thing you'd do was like, well, if you have the capital. [00:11:50] Sam Wilson: even if it's just 50 grand in one deal, mm-hmm, do that. Get a front row seat and see how someone else already in the industry is handling their business, how they put out their deal, decks, how they communicate, how they do webinars, how often they give, quarterly updates. If they do live calls, like what is their process and get a feel. [00:12:07] Sam Wilson: And you might find things in their process that are broken. You might be like, oh, I can do that better. If I become an active sponsor or that's a really cool thing, they did. Let me see if I can duplicate that. So that's I think that's really cool. After you were a limited partner, what did you do next? [00:12:20] Christine Hsu: Then it was a lot of networking. It was joining, meetup calls thanks to zoom. And even with the pandemic, everything went virtual. So everything is pretty much available. In LinkedIn, I was very active on LinkedIn. Really. If you're connected with one person you're connected with almost everyone in this industry. [00:12:38] Christine Hsu: So really just, reaching out to people that way through those channels, seeing if they have meetup groups online, that meet and then going from there once. In a meetup group and network there, then you meet so many others and it just keeps going. It's it's endless in terms of the possibilities of the people that you meet. [00:12:56] Christine Hsu: And then they become very close friends and part potential partners, too. And so that, that was kind of how I expanded my learnings and skilled really my network in real estate. [00:13:06] Sam Wilson: How'd you get your first deal done? [00:13:09] Christine Hsu: First real estate deal or first, [00:13:12] Sam Wilson: first commercial deal, first commercial real estate [00:13:14] Christine Hsu: deal. [00:13:15] Christine Hsu: Yes. So that was actually recent. We only just closed a month or so ago and it was through networking. I had met this This operator probably over a year ago, about a year and a half ago at a conference. And just kept in touch with her. And it was. So the lead sponsors, there's a couple groups, but one of the main lead sponsors is an all female group. [00:13:40] Christine Hsu: And so obviously we bonded being females in this industry and we just kept in touch. Like every quarter we would check in to see how we're doing, and if there's anything that we can help each other with almost became like pseudo accountability partners even. And then she she and her team had an opportunity that they were. [00:13:57] Christine Hsu: Under contract for, and also raising funds. And that I said, Hey, I'd be happy to help you out and raise some money with you and join your team and also help with other activities, anything that you need help with. So that's, that was the first deal that I joined as a co GP on. And, it's been great. And even from there, other team members and connecting with them kind of just expanded my network and my knowledge too. No, [00:14:22] Sam Wilson: that's really cool. I love that. And again, it goes back to those relationships. I think that you've been building, a year it's a good amount of time to know somebody, but it does take sometimes years, to where like, Hey, I actually. [00:14:33] Sam Wilson: We've known each other for a long time. Let's see if there's a chance for us to work together on something. So that's really fantastic. We're there. And I love the fact that this was just your first deal you got across the finish line. Cause this is very fresh for you. Yes, we'd get, we get all sorts of guests on this podcast or we get everybody from, you, Hey, I just closed my first commercial deal a month ago to, somebody else that might be like, Hey, I've got 3 billion in assets, under management. [00:14:56] Sam Wilson: I mean, they're all on here. So I love that we get to explore kind of both sides of this. journey. Tell me, was there, are there things that you would do differently on your next deal that you said, Hey, this is the lesson I learned. I'm gonna do it differently next time. [00:15:08] Sam Wilson: And then if so, why? [00:15:09] Christine Hsu: Yeah. I mean for us, we are just growing our networks, we're growing our investor list. And I think for the next deal, like we're growing and expanding our deals as well. So this first deal was a 5 0 6 B. We've done a couple others also in parallel. And now we're moving into the world of 5 0 6 CS where we can advertise. [00:15:32] Christine Hsu: So I. Think that, I would really do anything differently per se. I think it's just a journey and a progression. But definitely in terms of learning, it's there's some things that I could do better in terms of investor relations and even the process just to improve on, the entire process and the experience for investors going forward. [00:15:49] Christine Hsu: And I feel like with every deal you learn a little bit of something [00:15:52] new [00:15:52] Sam Wilson: Yeah. Absolutely. Is there a software, is there a platform, is there something that you are using when you're bringing investors on that you would recommend? [00:16:01] Christine Hsu: Yes. So, For most of my deals, they've been syndication pro it's been a very user friendly platform. [00:16:09] Christine Hsu: It's, aesthetically pleasing for both sides on the sponsor side and the, on the investor side, just to see everything clearly you can see your distributions whatever documents are housed, there is just very clean. And then we're also exploring with another group invest next. So just kind of comparing the different platforms. [00:16:29] Christine Hsu: I wouldn't say I have a lot of experience with invest next cause we're just starting out. But it's nice to kind of see, compare and contrast the different tools that are out there. [00:16:37] Sam Wilson: Absolutely. Absolutely. No, and that's great. I think it's one of the things that is, if you're listening to this and you don't. [00:16:43] Sam Wilson: And I'm not, we're not rec recommending one or another necessarily on this show, but if you don't have an investor platform, you gotta get one. I mean, it's something that, just, it really ups your game. They're not terribly expensive. Not com not relative compared to, the types of assets we're buying. [00:16:59] Sam Wilson: It's not an expensive investment. So that's certainly a cool thing. I'm glad really, to hear out of the gate you were launching launching with a good platform there. That's so cool. Last question for you. Is there anything else that you'd like to share with our listeners that you can think of? [00:17:12] Sam Wilson: You're like, Hey, here's something that has been meaningful to me in the last, I guess two years or so of your commercial real estate journey. [00:17:19] Christine Hsu: Yes, absolutely. For me, Just starting out in real estate. It looks, it seems like a very daunting thing, especially if, as you see everyone skilling at a hundred miles an hour and you're kind of a newbie like that was me. [00:17:31] Christine Hsu: Right. I'm just like, how did these people do it? And really what changed my mindset and perspective was the book called who not how so. It's very popular in our space. I think a lot of people recommend that book and I do as well. It's a whole mindset shift. It's not about how to do something because we're so limited in our knowledge I've I was very limited. [00:17:52] Christine Hsu: I didn't have the experience obviously, but leveraging people who do. So I feel like in syndications, the big keyword is leverage, right? Everyone's leveraging each other. It's a team sport everyone's working together. So for me, it was leveraging people who had more experience than me to get me where I wanted to be, as opposed to just figuring out how to do it. [00:18:14] Christine Hsu: It's just, finding the who's that can get me there. [00:18:17] Sam Wilson: I love it. Absolutely love it. Christine, thank you for taking the time to come on today. Certainly appreciate it. This was lots of fun. Learning about you, your journey thus far, getting your first deal done. Yeah. Kudos to you. Keep up to good work. [00:18:29] Sam Wilson: If our listeners wanna get in touch with you and learn more about you and what it is you're doing, what is the best way to do that? Yes. [00:18:34] Christine Hsu: You can check us out on our website at noblivest.com and also I'm pretty active on LinkedIn. You can find me on LinkedIn really looking forward to connecting with all of you. [00:18:45] Christine Hsu: Don't hesitate to reach out if you have any questions or just wanna network. I'm always open to that. [00:18:51] Sam Wilson: Awesome. And noble vest is N O B L I V E S T. If you're just listening to this, we will, of course include this all in the show notes as well. Christine, thank you so much. Do [00:19:01] Christine Hsu: appreciate. Awesome. Thank you so much, Sam.
In episode 324 I chat to Claire @thelifeofclaire_ who shares her first pregnancy and birth experience. After discovering that fertility rates fall dramatically after the age of 35, she organised a preconception blood test with her GP, got her mirena removed, tracked her cycle and promptly fell pregnant. She chats about her lifelong experience with migraines, the welcome relief of an iron infusion and her choice to change obstetricians halfway through her pregnancy. She had a really positive induction experience and was intent on staying active and working with her body to bring her baby into the world.
FINALLY, Abbie gets to ask Psychologist Steph Georgiou about ALL things ADHD! This episode is not to be used as a guide to diagnose ADHD. If you think you may have ADHD, please speak with your GP. Send your Nightmare Fuel via voice note to email@example.com LINKS Listen Abbie's 'Hot Nights' radio show https://bit.ly/3vDRYDw Follow Steph's TikTok https://bit.ly/3S9crc7 Subscribe to the 'How to ADHD' channel https://youtube.com/c/HowtoADHD CREDITS Host: Abbie Chatfield www.instagram.com/abbiechatfield Guest: Steph Geo https://www.instagram.com/mindfoodsteph/?hl=en Executive Producer: Lem Zakharia https://www.instagram.com/lemzakharia/ Video Producer: Oscar Gordon https://www.instagram.com/oscargordon/ Managing Producer: Sam Cavanagh Find more great podcasts like this at www.listnr.com/ See www.omnystudio.com/listener for privacy information.See omnystudio.com/listener for privacy information.
Welcome back! Small Axe Community! Let's welcome back Dave Seymour! Dave is a retired 16-year veteran of the Fire Service who launched his Real Estate career over 15 years ago, rapidly becoming one of the country's top investors. Dave is considered a leading expert in commercial multifamily transactions. His success in business and Real Estate put him on the radar of the A&E television network as well as multiple news organizations like CBS, ABC, CNBC, and FOX News. "Flipping Boston" aired on A&E for multiple seasons. Dave is a no-nonsense investor with zero tolerance for inefficiency and speculation. He has helped accredited investors on their very first deal as well as guided some of the largest investment firms in the nation through complex transactions. Dave's blue-collar attitude in a white-collar world is why investors seek his advice and want to invest alongside his team at Freedom Venture Investments. Dave has disrupted the Private Equity landscape allowing investors to access institutional quality CRE assets that have typically only been for the elite. [00:00 - 08:09] Opening Segment Dave shares his insights on commercial real estate cycles and how they can help or hinder an investor's success. Dave discusses how he has shifted his acquisition strategy in order to match the current capital market conditions. [08:09 - 17:00] Sticking With Development Deal Despite Tough Market the reasons why dave decided to focus on the development of built-for-rent communities, which he believes offer a higher yield than traditional multifamily investments. He has 325 million in development in various stages, including 24 units currently under construction. Dave is always looking for opportunities to acquire multifamily properties and believes there will be more buying opportunities in the market in the next few years. Quick Ad: Nico Invites you to join Jake's & Gino's Multifamily Mastery 5 in Florida this coming November 2022 If you're joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at firstname.lastname@example.org to get the code you can use to avail a discount! [17:00 - 24:30] Continuing to Supply Yield in the Marketplace. Dave shared that they went where they needed to go to be able to continue to supply yield in the marketplace. The challenge is that in development, everybody's waiting for a stabilized asset. Including them as the GP. it's an opportunity, and there might be a small acquisition fee point or two on the front. But the development fee is really the cash flow for the business. [24:30 - 32:09] Dave Ramsey: Legacy of Generational Wealth Dave focuses on providing value to the investor community and believes that this is important in today's market He sees opportunities in the multifamily space but cautions that it is still early in the cycle and there may be challenges ahead Dave closes with “Generational wealth can be created through hard work and conscious decisions” [32:10 - 33:15] Closing Segment If you're a credited investor Connect with Dave and reach him through (781) 922-4418. Or visit www.freedomventure.com LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode. I believe that you only need a small axe to build a lasting empire. Let's start building yours! To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me. Tweetable Quotes: “Think of those dollars as soldiers, man, those soldiers are going to war in the barracks and they are working every single day. They're in the dirt. They're in the ground. They're in the two-by-four they're in the contractor's tool belt. that's where your capital is. It's not bringing all many friends yet. Cuz it's got a job to do and the job it has to do is build and lease up the asset.” - Dave Seymour
On 29 July, 1987, India first inducted troops into Sri Lanka as part of the Indian Peace Keeping Force (IPKF). Almost exactly 35 years later, we interview Gp. Capt Anil Kumar "Toots" Ghosh, who served two tenures as Base Commander as part of the IPKF. Gp. Capt. Ghosh's profile is here: http://www.bharat-rakshak.com/IAF/Database/6525A gallery of photos on the IPKF is here: https://www.bharat-rakshak.com/ARMY/Galleries/Wars/SriLanka/
Welcome to How To Scale Commercial Real Estate, our guest today is Glenn Hanson, Glenn is the Found & CEO of Colony Hills Capital with 30 years of multifamily experience, managing complex organizations, and is a creative entrepreneur, his former CEO and chairman of a multi-million dollar company, he Co-founded River Valley Investors, Angel Investment Group. Glenn has formerly invested in 25 varied startups. [00:00 - 07:51] How to solve problems without litigation Glenn Hansen is an entrepreneur and started and funded 25 companies from plastics, and manufacturing to aerospace, FinTech banking, medical, and real estate. Glen says that the key to success as an entrepreneur is to focus on a solution and not get angry or vengeance in litigation. Glen's real estate company has scaled to 1.4 billion in assets under management. [07:51 - 15:26] How to Avoid Litigation When Scaling Your Business Glenn shares that Stephen Covey's book, "Seven Habits of Highly Effective People," was a key inspiration for starting his own business. He ran his company using the seven habits of highly affected people and provided training to all of his direct reports. He says that litigation is not worth the time, money, or emotional stress and recommends avoiding it by being prepared to just write a check. He transitioned his business from an LP fund to a GP fund and raised 20 million dollars in the process. They own all the assets of their GP fund and use it to acquire deals" [15:30- 20:06] Tips in selecting your partners. Glenn shares that it is important to carefully pick who you want to be a partner He adds to take note of contracts made sometimes there are trip levers where they only have the opportunity for them And as we scale there are always people trying to take advantage of the newbies coming in. [20:06 - 21:46] Closing Segment Reach out to Glenn Hanson Links Below Final Words Resource Mentioned: Stephen R. Covey - The 7 Habits of Highly Effective People Tweetable Quotes “How do you solve that without litigation? The first thing you might wanna do is be prepared to just write a check and be done with it and move on. So we approached it from the standpoint of litigation, but we don't do it with vengeance or with anger. We just do it as a tool to get to a solution” - Glenn Hanson ---------------------------------------------------------------------------- Connect with Glenn Hanson visit their website at www.colonyhillscapital.com Connect with me: Facebook LinkedIn Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → email@example.com Want to read the full show notes of the episode? Check it out below: [00:00:00] Glenn Hanson: How do you solve that without litigation? The first thing you might wanna do is be prepared to just write a check and be done with it and move on. [00:00:08] Glenn Hanson: But this was too big. We couldn't, we didn't have that kind of cash. Right. So we approached it from the standpoint of litigation, but . We don't do it with a vengeance or with anger. We just do it as a tool to get to a solution. same thing with issues on the property. Just focus on a solution [00:00:24] Sam Wilson: Glen Hansen is an entrepreneur. He started and funded 25 companies from plastics, manufacturing to aerospace, FinTech banking, medical, and real estate. [00:00:44] Sam Wilson: And today he's got multifamily real estate with 1.4 billion in transactions. Glen, welcome [00:00:50] Glenn Hanson: to the show. Hey, thanks for having me. Appreciate it. Sam pleasure is mine in [00:00:55] Sam Wilson: Every guest who comes in the show asks the same three questions, which are, where did you start? Where are you now? And how did you get there? [00:01:01] Glenn Hanson: Oh, wow. In terms of real estate or in terms of business. [00:01:05] Sam Wilson: Oh, and I left one part out in 90 seconds or less wherever [00:01:08] Glenn Hanson: you like. All right. So I started in a family business when I was, out, came outta high school and I latched onto that as a. Machine tool maker. And I grew that business with my brother from 73 and we sold it in 1999 and we grew it from nine employees to 400. [00:01:29] Glenn Hanson: Wow. So it was significant in size. As a result of that, I retired at 47, 2 years past my targeted retire. Goal and bought a bell jet ranger, helicopter flew around the country, got bored. And I called it my Winnebago in the sky. And, I got bored. So I started funding startup companies in 2001 and did that progressively for several years. [00:01:55] Glenn Hanson: And then. One of the companies I started was a roll up of pet cremator and that's where I was reintroduced with the concept of scaling a company and focusing on the segments of success that I found, which is that the company can't go to China, wildly profitable, scalable doesn't need skilled labor and is recession proof. [00:02:16] Glenn Hanson: Multi-family investing apartments. Real estate fit that formula. So that drove me into the real estate business on scale. We, my wife and I, we had bought two families for 20 years prior and never made any money at it, aggravated with investors. I mean, with intent with the tenants. So, we never saw that as a place to go in business. [00:02:40] Glenn Hanson: We, we learned about scale. We learned about the industry, my experience at, up till 2008, when we started gave me the skills I thought to dig in and grow the real estate company. So you [00:02:53] Sam Wilson: started investing in multifamily in 2008. [00:02:56] Glenn Hanson: Is that what I mean? Yes. [00:02:58] Sam Wilson: Yeah. and that of course was right when everything was just, going the markets were going south in, in, in a hurry. [00:03:03] Sam Wilson: I mean, what gave you the confidence then to say, Hey, look, I think this is an excellent place to be, and [00:03:07] Glenn Hanson: we need to be buying.. Yeah. So 2008 September when I launched the business, the Lehman brothers were still in business a few months later is when they fell apart and the world tumbled. and as a result I had, I was funding 25 startups. [00:03:23] Glenn Hanson: So I was feeding a lot of capital into multiple companies in different industries. So I recognize that I didn't have enough B. To maintain that. And so some of those would have to be jettisoned or find their way without me. And I had to find a source of significant capital to satisfy my lifestyle. [00:03:44] Glenn Hanson: And, the pet cremation business I mentioned earlier was ongoing and I had operators there. We sold that in 2016, but I was able to focus on the real estate business and what gave me the confidence was, the experience in the past, recognizing that recessions passed, I never anticipated that the downturn was going to be what it was. [00:04:06] Glenn Hanson: So it was three years from the date I started until we bought our first deal. And the first transaction was a 35 million dollar property. And, the irony there is we bought it out of, receivership from. General electric and they wouldn't even let me bid on it because I didn't have experience. [00:04:26] Glenn Hanson: So I said, I may not have experience, but I know how to run a balance sheet and the guy you took it from had experience and he failed. So, maybe you could gimme a shot. So they said, if I can, if I could show proof of funds, they would let me bid on it. So anyways, we did that and, we got a shot and we won the deal. [00:04:42] Glenn Hanson: Wow that got us started. Yeah, that's a heck, that's a big deal. Heck of a [00:04:46] Sam Wilson: first start. I mean, most people who are buying their first multi-family property, don't start with a 35,000,001, let alone one in receivership. obviously you got a significant experience in business, but how did you know, Hey, this is even a good deal. [00:04:59] Glenn Hanson: Yeah. So the first thing I did was I hire. A fellow he's still with me today and he is a partner now, but I hired a fellow that worked for a competitor in the area that had scaled a real estate empire to 25,000 units. And he was an acquisition person for them. And so he came on and he knew what to do. [00:05:16] Glenn Hanson: I hadn't, I did not know it was his doing that created our success for sure. [00:05:21] Sam Wilson: That's amazing. That's amazing. Yeah. You're bringing on talent from another another organization that has the industry experience to say, Hey, this is what we should be doing. [00:05:29] Glenn Hanson: Yeah. Yeah. And it's all about the team. [00:05:32] Glenn Hanson: Right. And even today what we do I guide the team, but I'm not the expert in any segment. They I've got people that have come from the industry and know what they're doing. [00:05:42] Sam Wilson: Right. That's amazing. Yeah. I think one of the words that you use, or two words that you used before we kick this off was something you said programmatic scale. [00:05:50] Sam Wilson: Can you give [00:05:50] Glenn Hanson: some more points to that? Sure. In my tool and dye business that I scaled to 400 people is statistically average size of the company. And that industry is 10, 10 people. Wow. And to give you an idea that what can happen and through the process and, The disciplines, when I say programmatic scale is that what you need to do is set the goals in place, get the team involved and then believe your own story that you're going to do it. [00:06:17] Glenn Hanson: And then you have to talk it up, share it with. Other people, tell people what you're going to do. And what happens is the dream becomes bigger than life or the people involved, including myself and you build momentum. But inside of that, building of scale, you need systems and procedures and that's the hard part. [00:06:36] Glenn Hanson: And we're struggling with that today. I mean, we're, we have, significant amount of properties under management and we use third party managers. We have to manage them tightly. it's for us, it's worked and we're in multiple states. So it, programmatic scale is what, that's all about. [00:06:55] Glenn Hanson: What I just described, keeping that into control. [00:07:00] Sam Wilson: Absolutely. Absolutely. Yeah. I've heard, somebody say that it, that problems never go away. They just change, [00:07:05] Glenn Hanson: actually. Yeah. It's all the same. Yeah. Right. Yeah. Right. [00:07:09] Sam Wilson: I think every entrepreneur wants to solve all the problems on their desk and then it's like, well, by the time you make it to, I guess you guys are at 1.4 billion in assets, under management, you're still going, oh wait, there's just [00:07:19] Glenn Hanson: different problems. [00:07:20] Glenn Hanson: Yeah. Yeah. Well, we don't have 1.4 billion under management. We've sold this. We've gone along. Okay. We have today we have about 500, probably 500 million. Okay. Under management, but, we've traded. And, like I mentioned, our average labor IRR is 37% on the portfolio, so that's and no losses. [00:07:40] Glenn Hanson: Yeah. [00:07:41] Sam Wilson: That's absolutely fantastic. I love that. You, you said earlier that, that you have. Really, it sounds like developed a formula for success. Can you talk to me [00:07:49] Glenn Hanson: about that? Yeah, I can. that started in 1991 when I read Steven Covey's book, seven habits of highly affected people. And I ran, I started running my company using those strategies. [00:08:04] Glenn Hanson: At that time, I had 27 direct reports and, I trained all of them, myself and the. Procedures and systems and provided the manuals and the books that we all carried every day. And we followed that discipline and that's the magic for me of being able to scale. [00:08:22] Sam Wilson: Got it. When you think about your, your, over the course of your business career, what are some things that maybe you didn't get right, or that you did wrong, that you could help other people avoid? [00:08:32] Sam Wilson: Repeating. [00:08:33] Glenn Hanson: Wow. I did a lot wrong. that's let me think of wrong [00:08:39] Sam Wilson: or a mistake you made, you said, man, I, I could have [00:08:42] Glenn Hanson: avoided that. Well, litigation. I've had litigation that I could have avoided. and I would say that when I started this business, my attorney told me he knows people in it. [00:08:51] Glenn Hanson: And the first thing they do is set aside a budget for litigation. and it's too easy to get caught in the ego of litigation. And I would. Today. My, my view is run from any litigation. Okay. It's just not, it's not worth the time, money or emotional stress. So that, that's probably the most current, I mean, What else? [00:09:12] Glenn Hanson: What else can I share? Well, yeah, I, [00:09:15] Sam Wilson: if you can give some color to that, I mean, cuz there are people, obviously they're scaling their portfolios and when you say, Hey, set aside a budget for litigation is there and I'm not asking for particulars necessarily, but is there a scenario or something that you think of when you say that you say, Hey, here's a way either to avoid it. [00:09:31] Sam Wilson: Something you could have set up differently. Was there was it just, some of the crazy stuff where we here, where somebody got shot on your property and then they, [00:09:38] Glenn Hanson: it ranges from property issues and more, more directly to the financial community. For instance, we had a closing that a property, didn't receive the. [00:09:50] Glenn Hanson: At close to pay the taxes from the seller. So lean was put on the property by the state and we had to go back and get the seller to. Give us the money. They wouldn't do it. So obviously that leads to litigation. Right. Got it. So how do you solve that without litigation? The first thing you might wanna do is be prepared to just write a check and be done with it and move on. [00:10:12] Glenn Hanson: But this was too big. We couldn't, we didn't have that kind of cash. Right. So we approached it from the standpoint of litigation, but . We don't do it with a vengeance or with anger. We just do it as a tool to get to a solution. same thing with issues on the property. Just focus on a solution. [00:10:28] Sam Wilson: yeah, that's great. That's great advice. Yeah. And those are things that, I mean, some of those you just can't avoid. It's like you [00:10:34] Glenn Hanson: can't yeah. [00:10:35] Sam Wilson: They show up. Yeah. And that's that's really interesting when you said, Hey, just start setting aside a budget for it. [00:10:40] Sam Wilson: Cuz it's, at some point when you get enough assets under management enough people, enough property it's probably just bound to happen is what it sounds [00:10:47] Glenn Hanson: like. Yeah. By the way, I didn't say set the budget aside. It was my attorney when I started the. Told me, that would be a good idea. And I'm, thinking my brother and I ran, we ran 38,000 contracts over 30 years, 35 years. [00:10:59] Glenn Hanson: And we have one Indi indication, one incident of litigation. And that was it. So I said, we're not gonna have any litigation. Well, the real estate industry seems to attract it for sure. Yeah. So, yeah, beware. [00:11:14] Sam Wilson: Absolutely. Absolutely. And there are things that are beyond your control. I mean, there are people I gave earlier, I've known some people who've had. [00:11:21] Sam Wilson: Violence that happen at one of their properties and suddenly yeah. They're being drag into court and it's like, wait, I didn't, I had nothing to do with this. And yet, here I am, how did this, how did I get here? This is great. Right. So, yeah, that's wild. You talk about talk to me about funds. You guys have multiple funds that you're running now. [00:11:38] Sam Wilson: And I think earlier we talked about what you called seven years of struggle. [00:11:42] Glenn Hanson: Maybe yeah, sure. we started out seven years ago to raise 150 million in an LP fund. And I hired a series seven employee that was, came from a large institution, had raised billions of dollars and, she was unsuccessful and, it was largely due to the fact that we were a first time. [00:12:05] Glenn Hanson: We couldn't get any traction and especially at 150 million dollars. So along the way, we tried different approaches and we failed. And then along the way we, we converted it to a GP fund and we lowered the amount that we wanted to raise to 10 million. we were able to get traction on the 10 million from our own family and friends to get started and break escrow so that we could go ahead and continue the raise. [00:12:31] Glenn Hanson: And we raised 20 million for our first fund and that 20 million, we bought 380 million worth of real estate. So there we were able to, as a GP, take a GP piece, right. That's what the fund was. We were able to leverage that money to a significant. Amount of, real estate. So fund two, which we're in the process of raising now is a $30 million fund, same model. [00:12:57] Glenn Hanson: And we're at, we'd launched in January and we're at $15 million raised so far. So, what I learned from that is start small and, make sure when you start, you can hit your target, even if it's 5 million. And then that gets, the confidence credibility out there. I also learned that they're very expensive to manage. [00:13:16] Glenn Hanson: There's a lot of regulation around the administration and accounting. So, that's perhaps why people don't wanna get involved with somebody doing the first time fund is you don't realize when you start how much work it is outside of running the real estate empire. It's almost its own. to keep the fun. [00:13:36] Glenn Hanson: Going [00:13:37] Sam Wilson: right. Tell me the transition. I just want some clarity around, you said you started it initially as an LP fund and then said, right. That's not working. Let's move it to a GP fund. Yes. Can you clarify [00:13:49] Glenn Hanson: that for me? Yeah. So LP would be a different part of the stack capital stack than the GP. So, the GP fund funds only the GPS, which has the higher risk and higher return. [00:14:02] Glenn Hanson: So our fund documents say that we're targeting a 20, 25% internal rate of return and an 8% cash on cash. So you can do that when you're in the GP stack. So when you [00:14:16] Sam Wilson: guys come in, you're coming in, cuz obviously, if you set aside, let's keep this easy numbers here and I'm sorry if I'm getting into the weeds on this, but let's say it's a million dollar raise. [00:14:24] Sam Wilson: And just again, make making this easy numbers. That is the limited partners equity, but then the general partners may be throwing in a half, a million dollars themselves. So that maybe they told. And so you guys are coming in and so the total raise, let's say it's 1.5. You guys are coming in as the $500,000 GP [00:14:40] Glenn Hanson: side. [00:14:40] Glenn Hanson: Yeah, we have to part. The fund is considered, liquidity. We can use, it's considered capital that we control, but they still, to this day, they still want, me and my partners to put money in the game. Absolutely. So. [00:14:57] Sam Wilson: with that fund, are you guys going out and acquiring your own assets or is it something where you're working with other general partners to go and find deals? [00:15:06] Glenn Hanson: No, that we own all the assets. Got it. Got it. [00:15:09] Sam Wilson: Okay. Okay. Yeah. Very cool. I like that. And then also, so, so I guess on that front then, how are you guys funding the limited partnership side? Is that something where you're just going out and just raising. One on investors, one, one at a time. [00:15:21] Glenn Hanson: Yeah. So prior to this interview you sent me a list of asking me what's the hardest thing I've ever done. [00:15:26] Glenn Hanson: Yeah. And it's raising tens and hundreds of millions of dollars worth of capital for what we're doing today. That is the hardest thing I've ever done. And we're, we're out there. We're hard on a deposit. We don't have all the money yet, and we've got to perform and out of 37 transactions, there's only one time we couldn't close. [00:15:46] Glenn Hanson: And, so we've, we've been successful, but it is not easy. Sam, it's hard. It is [00:15:53] Sam Wilson: absolutely hard. Yeah. I think people underestimate that. How difficult raising capital can be. I always just say it's like herding cats. It's getting everything done and across the finish line, everybody signed everybody's money and everybody wired. [00:16:05] Sam Wilson: It's like, man, this is, this is a lot like work. [00:16:07] Glenn Hanson: It is, it is real work it's, but yet after you get going, it's, it's, the easiest thing I've ever done once you're once it's operating. Right. I mean, try running a machine shop with 400 people and 1800 custom parts. That's pretty tough. this becomes easy, I guess, at [00:16:24] Sam Wilson: that point that's absolutely incredible. [00:16:26] Sam Wilson: Tell me about that one deal. I'm really curious. What did you learn from the deal? You couldn't get done? [00:16:31] Glenn Hanson: Yeah. So we were working with aggressive money, which we seemed to find occasionally not always they're disingenuous in terms of their, their approach to, you've probably heard loan to own. [00:16:42] Glenn Hanson: Yeah. So we've run into some of those kind of. Targets. And, we were short 1.8 million on a 36 million deal. And, the CapEx budget was 12 million. So it didn't matter that we were short 1.8, we could have continued raising the capital after. Sure. But they wouldn't let us, they, they said, if you don't have all the money, we're not closing. [00:17:05] Glenn Hanson: So, we couldn't close [00:17:07] Sam Wilson: can you clarify that? Who, who wouldn't let you close? I mean, [00:17:10] Glenn Hanson: certainly, yeah, the, the partner, the partner that was putting up the cash. Right? What happens is the game is once you sign with these guys, they're exclusive. So you can't go out and get competitive money while they're controlling your calendar. [00:17:25] Glenn Hanson: Right. Got it. So you get to the end, then if they decide they don't wanna fund, what are you going to do? You haven't talk, you haven't been able to talk to anybody else, so you either better have. 12 million bucks to. Take their place. If that's the number or yet you're forced to give up the deal. Wow. So, well, that's a [00:17:44] Sam Wilson: risk. [00:17:45] Sam Wilson: I think we should all listen and learn and [00:17:47] Glenn Hanson: avoid well that's the thing that, I wanted to share with everybody is be careful who you pick as your partner. When it comes to finance, I mean, you have to be sure they're genuine. Number one, number two are they are there Satan clauses inside their contracts that are gonna trip their are their trip levers where they're deliberately targeting, an opportunity for themselves. [00:18:09] Glenn Hanson: And you wanna watch for that. And as we scaled the business, we got exposed to a lot of people. And, many most are fine, but there's always somebody that's trying to take advantage of the new, the newbie coming into the game. [00:18:23] Sam Wilson: Yeah. That's, a painful lesson learned. I think, like, like I said, a painful lesson learned the hard way. [00:18:28] Sam Wilson: I mean that nobody wants to be in that position. How would you identify. That money partner like that. Now, how would you pick 'em out of a crowd? [00:18:37] Glenn Hanson: Yeah, you can see it in their term sheet. When they send the term sheet over, you can see the language will jump out at you. If it makes you cringe in your stomach. [00:18:45] Glenn Hanson: Feel upset then you found it , it shouldn't be that it shouldn't be hard. Right, right. It should be. It should be. They want to do a deal with you. They wanna make it work. Obviously, if you break certain rules or you can't pay your bills, they've gotta take over the property. We get that. Right. [00:19:02] Glenn Hanson: Right. [00:19:03] Sam Wilson: It'll be right there in the term sheet. I like [00:19:05] Glenn Hanson: that. Yeah. Yes. You can see it. You can see it right out of the blocks and then just guard yourself against it and don't accept exclusivity at that point, for sure. Absolutely what we've been able to do is write in a, breakup fee. [00:19:18] Glenn Hanson: And if we don't like it the way it feels as we get into it, we pay the fee and find another partner. [00:19:24] Sam Wilson: Interesting. A breakup fee. That's yeah, that, that's very cool. I love that. Thanks taking the time to share that with us. One last question here for you. The markets are crazy. Multifamily has experienced incredible cap rate compression. [00:19:37] Sam Wilson: We've seen prices going wild. Where do you see risk in the multifamily market right now, if you see any and then how are you protecting your guides yourselves against that? [00:19:47] Glenn Hanson: Yeah. I was a, during my stint of retirement, I traded my own book of business in commodities. So I traded the indices and everything else you can imagine. [00:19:57] Glenn Hanson: And I learned that nobody knows where it's going to go. Sure. So I think the biggest risk is by not continuing with your business plan. So we're still buyers. We've just found a better way to finance and it's, we couldn't do. The way we did three months ago, we had to change the way we looked at the capital stack. [00:20:13] Glenn Hanson: But the risk is that people are pulling in their horns, thinking the world is going to end. And, the reality is that people still need a place to live. The Democrats or Republicans support housing, and the interest rates will come down. And as long as we're buying cash, Which we are. So what, we just have to wait. [00:20:31] Sam Wilson: I like that. I like that. And that's that's what I keep hearing over and over right now is that as long as we're buying cash flow, who really cares. So that's absolutely fantastic. Glen, thank you for taking the time to come on the show today. Certainly learned a lot. It's been a, a very interesting interview just from your history in the, in the tool and dive business and growing that to, as you called it, programmatically scaling your real estate holdings. [00:20:55] Sam Wilson: You've done some really cool things and, and I think learned some hard lessons that you were, willing to share with us today. So thanks for helping us avoid those mistakes ourselves. Certainly appreciate it. If our listeners wanna get in touch with you and learn more about you, what is the best way [00:21:06] Glenn Hanson: to do that? [00:21:08] Glenn Hanson: Yeah. Reach out to colony Hills capital.com [00:21:11] Sam Wilson: colony Hills capital.com. We'll make sure we put that there in the show notes, Glen, thank you again for coming on. Certainly appreciate it. [00:21:18] Glenn Hanson: Yeah. Thanks for having me. I appreciate that too. Take care, Sam.
Craig Berger is the founder and CEO of Avid Realty Partners, which buys, owns, renovates, and eventually sells multifamily apartments along with other commercial realty assets. He is a GP of 1,149 units and is based in Manhattan, NY. In this episode, Craig shares about the struggles and wins of investing in what he refers to as class D- properties, his criteria for what makes a great deal, and the importance of diversifying your portfolio across asset classes and markets. Craig Berger | Real Estate Background Founder and CEO of Avid Realty Partners, which buys, owns, renovates, and eventually sells multifamily apartments along with other commercial realty assets. Portfolio: GP of 1,149 units Based in: Manhattan, NY Say hi to him at: avidrealtypartners.com LinkedIn Best Ever Book: Building an Elite Organization by Don Wenner Greatest lesson: There are no shortcuts to building a real estate platform. It requires persistence, an incredible amount of hard work along the way, strong risk management skills, robust decision analysis (including avoiding landmines), and the ability to scale processes and systems to reach new milestones. Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Trevor McGregor Coaching | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com
Today we have a really special guest... Amy Sylvis! Prior to working in multi-family real estate, Amy spent 13 years in the pharmaceutical and biotech industries. She was drawn to the industry because she was able to serve people while they battled serious health challenges. While traveling on business, she picked up “Rich Dad Poor Dad” by Robert Kiyosaki and a light bulb went off. She realized that her skillset could serve even more people through multifamily real estate by providing clean, safe, affordable housing to working class families; by providing a powerful and proven investment vehicle for friends and family to participate in; and by pouring profits in to organizations that assist underprivileged and sick children. After several attempts to crack into the industry on her own because of health challenges, Amy was presented with the opportunity to join Quattro Capital. She is active on the GP and LP side of apartments in Alabama, Indiana, Georgia, and Tennessee and is continuing to grow her portfolio with a goal of achieving the 5 Freedoms in the next couple of years. Amy lives in Los Angeles with her amazing husband Joel. They love college football, traveling, and volunteering their time with organizations that care for children in need. Today's episode is chock FULL of content that will keep you on the edge of your seat! It is both comical and educational and most definitely does not dissapoint. Don't forget to subscribe because this is only the beginning...