Podcasts about loopnet

What if brokers were calling you with storage deals before they even hit the market? The truth is, the best opportunities rarely get blasted out to everyone. Instead, they're quietly offered to a short list of trusted buyers. If you're not on that list, you're already too late. In this episode of Storage Wins, Alex Pardo continues his four-part series on building powerful broker relationships. He reveals the exact steps he used to land on one broker's shortlist of qualified buyers, a relationship that led to an off-market storage facility deal you'll never find on LoopNet. You'll hear how brokers actually source deals, what they look for in buyers, and the follow-up strategies that keep you top of mind. Whether you're brand new or already in the game, this episode gives you the roadmap to becoming the kind of investor brokers call first. You'll Learn How To: Get on a broker's shortlist of serious buyers Build lasting, genuine relationships that lead to repeat deals Avoid rookie mistakes that quietly get you blacklisted Communicate your buy box with confidence and clarity Prove credibility even if you've never closed a storage deal Follow up the right way without becoming a pest What You'll Learn in This Episode: (00:00) Why you can absolutely do this if you stay consistent (02:00) How the best storage deals never reach the open market (03:00) The secret to building credibility brokers can trust (05:00) How one relationship led to two off-market storage deals (09:00) Why following up and being genuine opens doors (11:00) The reason quick responses keep you on a broker's shortlist (12:00) Why confidence and professionalism matter more than experience (14:00) How closing one deal accelerates your path to ten (16:00) How to clearly define and share your buy box (18:00) The long game: why trust takes time but pays off Who This Episode Is For: New investors who want to break into storage without competing with dozens of buyers Operators who are tired of seeing deals only after they've been shopped around Anyone who wants to earn brokers' trust and move from “tire kicker” to trusted buyer Why You Should Listen: The storage industry is smaller than you think, and your reputation with brokers determines whether you get first dibs or leftovers. This episode shows you how to position yourself as a trusted buyer who gets the call when hot opportunities surface. If you're serious about building wealth through storage and ready to stop chasing scraps, this is the playbook that puts you at the front of the line. Follow Alex Pardo here: Alex Pardo Website: https://alexpardo.com/ Alex Pardo Facebook: https://www.facebook.com/alexpardo15 Alex Pardo Instagram: https://www.instagram.com/alexpardo25 Alex Pardo YouTube: https://www.youtube.com/@AlexPardo Storage Wins Website: https://storagewins.com/ Have conversations with at least three to give storage owners, brokers, private lenders, and equity partners through the Storage Wins Facebook group. Join for free by visiting this link: https://www.facebook.com/groups/322064908446514/

What if the most powerful way to find hidden storage deals wasn't on LoopNet, through brokers, or even cold calls, but sitting quietly in your inbox? The truth is, email is still one of the most overlooked and effective tools for connecting with motivated storage owners. In this final episode of the 6-part series, Alex Pardo reveals the 16th method for uncovering off-market storage opportunities, plus a bonus strategy that smart investors are using right now to turn simple conversations into contracts and cash flow. After 17 strategies in total, this one might just change the way you approach deal flow forever. You'll Learn How To: Use email to spark real conversations with mom-and-pop storage owners Write short, punchy messages that actually get replies Build a targeted email list the right way without spam tactics Leverage text message marketing for even higher response rates Focus on just 1–2 strategies to create consistent, repeatable deal flow What You'll Learn in This Episode: [00:00] Why email still works and always will [01:00] The psychology of turning conversations into contracts [04:00] How to build and use a targeted email list [07:00] Writing emails that sound human not spammy [09:00] The “9-word email” that reignites cold leads [11:00] Bonus strategy: text message marketing [14:00] Best practices to keep it legal, simple, and effective [16:00] How to stack 2–3 methods for consistent deal flow Who This Episode Is For: Investors tired of waiting on overpriced, broker-listed deals New operators looking for a proven roadmap to their first facility Action-takers who want to build direct relationships with sellers Why You Should Listen: This episode wraps up the full 6-part series and gives you one of the most scalable, high-response methods for finding storage deals. Instead of hoping for opportunities, you'll learn how to create them, building a system that turns cold contacts into cash flow. If you've been following the series, this final strategy ties it all together and shows you how to take action with confidence. Follow Alex Pardo here: Alex Pardo Website: https://alexpardo.com/ Alex Pardo Facebook: https://www.facebook.com/alexpardo15 Alex Pardo Instagram: https://www.instagram.com/alexpardo25 Alex Pardo YouTube: https://www.youtube.com/@AlexPardo Storage Wins Website: https://storagewins.com/ Have conversations with at least three to give storage owners, brokers, private lenders, and equity partners through the Storage Wins Facebook group. Join for free by visiting this link: https://www.facebook.com/groups/322064908446514/

Some of the best storage deals you'll ever find aren't on LoopNet, in a broker's inbox, or even listed anywhere at all. They're hiding in plain sight, tucked behind a Dollar General, spotted on Google Maps, or sitting right in front of someone else who just doesn't know what they're looking at. In this episode, Alex Pardo continues his 6-part series on the 16 proven methods for finding off-market storage deals. This is Part 5, where Alex reveals three creative strategies you can put to work immediately: “flying for dollars” on Google Maps, the Dollar General hack, and how to build an army of property finders to send you deals. These methods are all about speed, leverage, and using other people and tools to multiply your results. You'll Learn How To: Use “flying for dollars” on Google Maps to spot mom-and-pop storage facilities Train virtual assistants or even your kids to help you build a steady deal pipeline Leverage the Dollar General hack to uncover hidden opportunities in small markets Recruit property finders, mail carriers, contractors, even friends, to send you leads Use simple tools like DealMachine or Google Sheets to organize and track your pipeline What You'll Learn in This Episode: [00:00] Why the best storage deals are often hiding in plain sight [01:00] Recap of the first 12 strategies in the series [04:00] Strategy #13: Flying for dollars with Google Maps + VA training [10:00] Spotting faded signs and gravel driveways as buying signals [11:00] Strategy #14: The Dollar General hack and why it works [15:00] How to gamify deal finding with your family [16:00] Strategy #15: Building an army of property finders bird dogs [18:00] Tools like DealMachine and simple Google Forms to track leads [19:00] Incentives that keep property finders motivated and bringing you deals [20:00] How Storage Wins members are applying these strategies successfully Who This Episode Is For: New storage investors looking for practical, low-cost ways to find their first deal Operators who want more deal flow without burning money on expensive marketing Anyone who wants to uncover hidden opportunities before the competition ever sees them Why You Should Listen: This episode gives you three powerful but overlooked ways to find deals quickly, even in competitive markets. Instead of waiting for overpriced broker listings, you'll learn how to create your own pipeline of opportunities—so you can buy facilities with less competition and more upside. Follow Alex Pardo here: Alex Pardo Website: https://alexpardo.com/ Alex Pardo Facebook: https://www.facebook.com/alexpardo15 Alex Pardo Instagram: https://www.instagram.com/alexpardo25 Alex Pardo YouTube: https://www.youtube.com/@AlexPardo Storage Wins Website: https://storagewins.com/ Have conversations with at least three to give storage owners, brokers, private lenders, and equity partners through the Storage Wins Facebook group. Join for free by visiting this link: https://www.facebook.com/groups/322064908446514/

Most investors never make it past the first page of LoopNet or Google when hunting for storage deals. The problem? That's where the competition is, and it's also where the overpriced scraps live. The real opportunities are hiding in places most investors never bother to look. In this episode, Alex Pardo continues his 6-part series on the 16 proven methods for finding off-market storage deals. This is Part 4, where he shares three of the most overlooked and underused strategies: Facebook Marketplace, the MLS, and going deep into Google searches. These simple, often ignored methods have led to six- and seven-figure deals for Alex and his students, and you'll learn exactly how to apply them.  You'll Learn How To: Find mom-and-pop owners posting rental ads on Facebook Marketplace Set up MLS keyword alerts to catch hidden storage listings Spot mispriced facilities that slip through the cracks on residential listings Use deep Google searches to find small-town brokers with hidden gems Turn every conversation with owners, agents, and brokers into referral opportunities What You'll Learn in This Episode: [00:00] Why consistency, not fancy tactics, is the real key to finding deals [01:00] Why the best opportunities are in overlooked sources [03:00] Using Facebook Marketplace to find direct-to-owner leads [06:00] Pro tips for messaging owners safely and effectively [07:00] How MLS mislistings can turn into opportunities [09:00] How to set up keyword alerts and build agent relationships [10:00] Going deep into Google to find hidden deals [12:00] Why small-town brokers can be your biggest advantage [14:00] Why simple, free strategies often beat sexy marketing tactics [15:00] How the Storage Wins community keeps investors accountable and consistent    Who This Episode Is For: New investors who want creative ways to uncover hidden opportunities Operators tired of fighting over overpriced broker-listed facilities Action takers ready to build consistent deal flow with less competition   Why You Should Listen: This episode shows you how to find storage deals in places 99% of investors overlook. Instead of chasing the same tired listings as everyone else, you'll learn how to tap into unconventional deal sources, build direct relationships with owners, and get to opportunities before anyone else even knows they exist. Follow Alex Pardo here: Alex Pardo Website: https://alexpardo.com/ Alex Pardo Facebook: https://www.facebook.com/alexpardo15 Alex Pardo Instagram: https://www.instagram.com/alexpardo25 Alex Pardo YouTube: https://www.youtube.com/@AlexPardo Storage Wins Website: https://storagewins.com/ Have conversations with at least three to give storage owners, brokers, private lenders, and equity partners through the Storage Wins Facebook group. Join for free by visiting this link: https://www.facebook.com/groups/322064908446514/

Most investors chase deals on LoopNet or wait for brokers to call them back. The problem? By the time you see the listing, you're already too late. The best storage deals never hit the market, they're sitting with owners who don't even realize they're ready to sell. In this episode, Alex Pardo continues his 6-part series on the 16 proven methods for finding off-market storage deals. This is Part 3, where he reveals three of his most powerful strategies: direct mail that actually works, raising relationship capital, and networking your way into deals most people never hear about. These aren't gimmicks, they're repeatable systems that have created six- and seven-figure opportunities for Alex and his students. Want to shortcut your learning curve?  You'll Learn How To: Run direct mail campaigns that owners actually respond to Build relationship capital so deals naturally flow your way Turn casual conversations into off-market opportunities Use networking groups and associations to position yourself as the go-to storage buyer Create a follow-up system that keeps you top of mind with motivated sellers What You'll Learn in This Episode:  [00:00] Why starting small beats blasting thousands of mailers [01:00] Direct mail best practices that still work in 2025 [05:00] The $150K profit deal Alex closed from one letter [08:00] Why relationship capital is more valuable than money [13:00] Real success stories from Storage Wins members who used this approach [18:00] The networking formula: conversations → conversions → contracts → cash [21:00] Where to network (BNI, SSA, REI groups, chambers, and more) [22:00] How to stand out and be remembered after every new connection [24:00] Why you only need 1–2 strategies to get consistent results Who This Episode Is For: New investors who want a step-by-step roadmap to their first facility Operators who are frustrated by overpriced, broker-listed deals Anyone ready to build consistent deal flow without burning out   Why You Should Listen: This episode gives you three more powerful ways to uncover hidden storage deals and gain a serious advantage over the competition. Instead of fighting over scraps, you'll learn how to create your own pipeline of opportunities, build trust with owners, and buy right, so you can grow your portfolio with less stress and more upside. Follow Alex Pardo here: Alex Pardo Website: https://alexpardo.com/ Alex Pardo Facebook: https://www.facebook.com/alexpardo15 Alex Pardo Instagram: https://www.instagram.com/alexpardo25 Alex Pardo YouTube: https://www.youtube.com/@AlexPardo Storage Wins Website: https://storagewins.com/ Have conversations with at least three to give storage owners, brokers, private lenders, and equity partners through the Storage Wins Facebook group. Join for free by visiting this link: https://www.facebook.com/groups/322064908446514/

John breaks down the two “jobs” of multifamily—acquisitions and execution—and why asset management wins in today's market. He explains why he favors Midwest markets for steadier rent growth, how local supply/demand and job bases drive performance, and why newer “boom” markets can be whiplash-prone. John also walks through a recent Louisville deal—from spotting a mismarketed opportunity on LoopNet to boosting income with simple operational plays (think pet amenities, fee optimization, and insurance compliance partnerships). On raising capital, he shares how expectations have shifted, why education and service-first relationships matter more than ever, and practical ways to expand your reach without “selling.”   - Get Interviewed on the Show! - ================================== Are you a real estate investor with some 'tales from the trenches' you'd like to share with our audience? Want to get great exposure and be seen as a bonafide real estate pro by your friends? Would you like to inspire other people to take action with real estate investing? Then we'd love to interview you! Find out more and pick the date here: http://daveinterviewsyou.com/

What if the storage deal you've been looking for has been sitting there all along, hidden in plain sight? The truth is, most of the best facilities never hit LoopNet or a broker's list. They're run by mom-and-pop owners who would sell tomorrow, if the right person reached out. In this episode, Alex Pardo continues his deep dive into the 16 proven methods for finding off-market storage deals. This is Part 2 of the series, and Alex reveals three more powerful strategies you can use right now, driving for dollars, working with wholesalers, and tapping into storage Facebook groups, to uncover opportunities that most investors completely miss.  You'll Learn How To: Use driving-for-dollars the right way and why it still works in 2025 Build real relationships with mom-and-pop owners that lead to deals Work with wholesalers so you're the first call when they get a storage deal Stand out in Facebook groups and create connections that actually turn into opportunities Focus on just 1–2 strategies and get consistent deal flow without burning out What You'll Learn in This Episode:  [00:00] Why the best deals are hiding in plain sight [01:00] Part 2 of the 16-method series, why these 3 strategies matter [04:00] How to spot mom-and-pop facilities while driving for dollars [06:00] Why stopping in and meeting owners leads to more deals [09:00] Best practices for working with wholesalers (and being their favorite buyer) [13:00] How to communicate clearly and confidently so wholesalers trust you [19:00] Using storage Facebook groups to build relationships and find deals [21:00] Why gift-giving and personal touches make you stand out [22:00] The hidden opportunity on Facebook Marketplace [23:00] Why you only need 1–2 strategies to start getting results Who This Episode Is For: New or aspiring investors ready to buy their first storage facility Experienced operators tired of fighting over overpriced, on-market deals Anyone who wants a repeatable system to find motivated sellers and hidden equity Why You Should Listen: This episode gives you a clear playbook to find off-market storage deals, even in competitive markets. Instead of hoping for a broker email or waiting for a deal to show up on LoopNet, you'll learn how to proactively create opportunities, and buy facilities with less competition and more upside. Follow Alex Pardo here: Alex Pardo Website: https://alexpardo.com/ Alex Pardo Facebook: https://www.facebook.com/alexpardo15 Alex Pardo Instagram: https://www.instagram.com/alexpardo25 Alex Pardo YouTube: https://www.youtube.com/@AlexPardo Storage Wins Website: https://storagewins.com/ Have conversations with at least three to give storage owners, brokers, private lenders, and equity partners through the Storage Wins Facebook group. Join for free by visiting this link: https://www.facebook.com/groups/322064908446514/  

Ready to scale your commercial real estate portfolio? Book a free success call here: https://legacywealthholdings.com/success-call/ Most people think the best real estate deals are found on LoopNet, Crexi, or the MLS. The truth? By the time a property hits those sites, it's usually already been picked over. In this episode, Nick Burton and I break down exactly how we find the best off-market commercial real estate deals in 2025. We cover the “sweet spot” between mom-and-pop landlords and institutional buyers, why older vintage properties have huge upside right now, and how rescue capital is creating opportunities most investors don't even know exist. We've acquired thousands of units using these exact strategies. If you want to learn how to source, negotiate, and close commercial real estate acquisitions when the market feels tough, this episode will show you where to look and how to win. #RealEstateInvesting #CommercialRealEstate #MultifamilyInvesting #OffMarketDeals #LegacyPodcast #TimBratz //DOWNLOAD OUR FREE DEAL CALCULATOR https://legacywealthholdings.com/deal-calculator-download-youtube/ //CONNECT WITH TIM linktree.com/timbratz //ABOUT ME Tim Bratz is the Founder & CEO of Legacy Wealth Holdings, a leading real estate investment company. He focuses on vision-casting, marketing, & supporting his team of “A” players. He has built his company on integrity (doing what he said he was going to do), fairness (doing the right thing), & transparency (honesty is always the best policy). Tim has dedicated his professional life to studying wealth-building & personal finance. Working in real estate, Tim has learned how to create a passive income that allows him to live the lifestyle of his choice. His goal is to educate & empower others to become financially free through entrepreneurship & real estate investments. https://legacywealthholdings.com SUBSCRIBE NOW so you don't miss a single video! https://www.youtube.com/legacywealth

In this episode of Get Creative, Justin Tuminowski sits down with Garrett Kaplan, who turned a simple LoopNet search into an 86-unit seller-finance deal and a nearly six-figure payday. Garrett reveals how he left his W-2, built a diverse portfolio of pad splits, Airbnbs, and warehouses, and why persistence pays off in real estate. ➡️ Learn How You Can Escape Your W2 with ONE DEAL: https://subto.sjv.io/qz3nWN ➡️ Get the CRM that will take you further: https://www.gohighlevel.com/pace ➡️ Use Creative Listing for FREE to buy and sell creatively: https://bit.ly/CreativeListing ➡️ Join the SubTo Community: https://subto.sjv.io/RG6EDb ➡️ Become a Top Tier Transaction Coordinator: https://toptiertc.pxf.io/yqmoxW ➡️ Discover the Gator Method: https://gator.sjv.io/Z6qOyX ➡️ Get to the SquadUp Summit Conference: https://bit.ly/GetToSquadUpSummit COMMUNITY MEMBERS! ➡️ Get Featured on the Get Creative Podcast: https://bit.ly/GetCreativeGuestForm Refer a Friend to SubTo: refer.nre.ai/subto Refer a Friend to TTTC: refer.nre.ai/tttc Refer a Friend to Gator: refer.nre.ai/gator PLUG IN & SUBSCRIBE Creative Real Estate Facebook Group: https://www.facebook.com/groups/creativefinancewithpacemorby Instagram: https://www.instagram.com/pacemorby/  YouTube: https://www.youtube.com/@PaceMorby TikTok: https://www.tiktok.com/@pacemorby  X: https://x.com/PaceJordanMorby The Pace Morby Show: https://www.youtube.com/@thepacemorbyshow

Todd Drowlette, a commercial real estate broker with over $2 billion in closed deals, joins to discuss his upcoming A&E show, "The Real Estate Commission," which premieres October 12.  Todd emphasizes that commercial real estate is "a trillion dollar industry hiding in plain sight."  He points out that people interact with commercial real estate every day - when they go to a grocery store, coffee shop, gas station, or office building - without consciously thinking about it.  Commercial real estate loans are about to face a major challenge, with many 5-year loans needing refinancing at much higher interest rates, potentially creating significant market opportunities for investors. Check out the "The Real Estate Commission" show on A&E starting October 12th. Resources: Follow Todd Drowlette on Instagram at @bettertalktoTodd and check out Real Estate Commission Show Notes: GetRichEducation.com/569 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Welcome to GRE I'm your host. Keith Weinhold, why is that convenience store, gas station or coffee shop located on that exact corner that it's on? It's strategic, and how does a deal like that really get negotiated? We're discussing this and more with an A and E television and streaming star today on get rich education   Keith Weinhold  0:28   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Speaker 1  1:14   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:30   Welcome to GRE from Sudbury, Ontario to Sudbury, Pennsylvania, and across 188 nations worldwide, you're listening to one of America's longest running and most listened to real estate investing shows this is Get Rich Education. I'm your host. Keith Weinhold, how did that ever happen? Here I am more slack jaw than a patient in a dentist's chair. But back with you for the 569th consecutive week. Anyway, this is the time of year where many people have just gone back to school. Here at GRE you go forward to school as you learn about what's really going to make a difference and move the financial meter in your future. Now, the world's best known negotiators include Mahatma Gandhi and Nelson Mandela today, the former FBI agent Chris Voss is perhaps the world's best known negotiator. You'll recall that we've hosted Chris Voss on the show twice here and talked a good bit about real estate negotiation. Then, I mean, who can forget my mock negotiation with him over a four Plex building, which played out right here on air. It was obvious who won that debate, but Chris is an all around negotiator, not specific to real estate. I thought, wouldn't it be great to get sort of a Chris Voss, but specific to real estate here on the show for you, and that's what we're doing today. So you're really going to enjoy this week's guest. He's also the star of a real estate reality show on the A E Network that's going to make its big, flashy debut next month. Now I had a small negotiation, I suppose, over email with one of my property managers in Florida recently, yeah, I got an email from my manager saying that an air conditioning unit needed to be removed and replaced in one of my single family rental properties there in Florida. Attached was a quote that they obtained from a company for $6,350 and there's conveniently a button for me to hit to approve this charge. But I did not hit the Approve button on that 6350, price. I requested that they provide me with two more quotes. And yes, remember, you pay your property manager often eight to 10% of the monthly rent in management fees they are working for you. So what are they working on to earn that make them go to work and do this for you? All right, for substantial work items, it's a reasonable request for you to seek three quotes. And all right, while they were tracking down the two other quotes, I went to AI. I asked chat GPT, what should the cost be to remove and replace an air conditioner in a 1500 square foot home in Florida? Chat GPT answered, 5500 to $7,500. For a standard three ton system in a 1500 square foot home. All right, so the first number the manager gave me that was sort of right in the middle of that range. A few days later, the second quote came in at 6150, all right, 200 bucks less than. The first one, I replied to them that if the third one doesn't come in substantially lower, that I am going to go seek quotes myself. A couple days later, the third and final quote came in, and it was 4990, yes, so I accepted it. This is about $1,300 less than the first quote that they gave me just for returning a few emails, and it will make the tenant happy to have a new air conditioning system. Newer systems tend to be more efficient, so it's probably going to make the tenant's electricity bill lower as well, and it probably makes it easier for me to justify future rent increases too. That tenant's been there for quite a few years. I'm thinking six years, and today's low home buyer affordability is probably going to keep them renting for a while. And the other thing that could keep them there longer is a new air conditioning system, and that is the biggest rental property expense, or the most I even had to get involved in quite a while, because remember, at GRE marketplace, almost every property there is either brand new or completely renovated. Your cap x expenses should be small for years. Let's meet this week's featured guest.   Keith Weinhold  6:31   Have you ever wondered why that coffee shop is on that corner that they're on, or why your grocery store is located just where it is? And how do those deals get negotiated? That's what you'll see on an upcoming new series on A and E. It starts October 12. It's called The Real Estate Commission. There are no scripts. The show captures real life deals as they unfold, as they crumble and fall apart and maybe come back together again. The star of that show is with us today. He believes he will tell you that he's the most prolific commercial real estate broker in the nation, and he has the experience and the gravitas to back that up, because he brings over two decades as a broker, and he's the managing director at Titan commercial Realty Group in New York. He's closed more than 1700 deals. Yes, 1700 deals totaling over $2 billion across the commercial real estate sectors. He's represented everyone from local startups to national REITs. Hey, welcome to get rich education, Todd Drowlette   Todd Drowlette  7:36   thank you, and that was quite the introduction. I don't think I could pop up myself.   Keith Weinhold  7:40   You've got a full interview is worth the time here to live up to that. Todd, you know, more than 10 years ago, I started living this life where it seems like everything that I say gets recorded and uploaded to the internet, and now you're gone down that same road similar to that. Tell us about your forthcoming reality TV and streaming show that starts next month. What can viewers really expect to see?   Todd Drowlette  8:04   There's over 100 shows on national TV about slipping houses, renovating houses, residential brokers. Ours is the first show ever on television to feature commercial real estate and to be entirely about commercial real estate. So it's a docu series. It's an there's eight episodes in the season. It follows my team at Titan and I doing actual real deals, from helping a divorce attorney search for new office space to investors to selling multi family properties. So viewers will be able to kind of see behind the scenes and see actual documented deals as they happen, fall apart, come back together again. I'm hoping the viewers will take away the fact that, yes, you have to be sophisticated and understand what's going on, but it's something that the average person can be involved in. Commercial real estate is a trillion dollar industry hiding in plain sight. You know, people go to the grocery store, like you said, they go to the coffee shop, they go to the gas station, they go to their office building. People use and interact with commercial real estate every single day. It's just like the air. You're not consciously thinking about it, even though you're using it almost every moment of the day,   Keith Weinhold  9:10   right? It's something that we all need and interact with. It's almost non discretionary, whether we're buying something at a retail store or filling up at a gas station? Yeah, I think to some people, commercial real estate sounds unapproachable. And as you watch this series, you're thinking, Oh, that's the life that that somebody else lives. It's really not that unapproachable. Does this series really help break that down?   Todd Drowlette  9:36   It does, and we made a very conscious decision. So I represent some very large corporations, but the series follows like smaller business and entrepreneurs, and seeing kind of people from the beginning or in different transitions of their business, like I'm growing but you're seeing in real life, actual successful business people. You're seeing them to react to real situations and that kind of moment where there. Like, Man, I think I'm ready to grow and expand. But what if I'm wrong? What if the economy turns Am I doing the right thing? And you're kind of watching us guide them through that process. But you see, you know so much of the internet is reception and people going, Oh, look at this. Look how successful I am. This. You're seeing successful people, and knowing that there's no guarantee in life like the best you're ever going to make is a calculated decision. But there's no point where your life where you're so successful that it just doesn't matter if you lose. Like the deals get larger and the stakes get higher, and every decision you make is potentially a pitfall. So you're going to see real entrepreneurs and real business executives dealing with those decisions of, when do I move? Do I invest? Do I buy? You know, I have this property, I need to get rid of it, and what's that process look like? I love commercial real estate. I can go on, on about it. What I'll be really excited to see is if the everyday person finds commercial real estate interesting,   Keith Weinhold  10:54   doers don't wait for uncertainty to abate, or else they would never get anything done. Doers educate themselves and make strategic moves despite the uncertainty and Todd shortly, I do want to ask you more about negotiation and just how that coffee shop gets that prime corner spot, if you will. But first dropping back a bit more introspective, I know that some have called this the series that launched five new real estate careers already. So how transformative is this? Personally for you to do this show, besides making mom proud, it probably changes how others think of you and how you think of yourself.   Todd Drowlette  11:32   Well, my mom thought I was nuts to national television, but she's proud, but thinks I'm crazy and she's probably not wrong. How this whole thing came about was we had a show also called The Real Estate Commission, that was on Facebook watch that we averaged about 1.3 million views per episode. The premise of that show that was also called The Real Estate Commission, was, Can four successful real estate brokers take just anyone off the street and turn them into the next 100 million dollar real estate agent. It was two commercial brokers, two residential brokers. When covid happened, I said to Brandon in my office, who's part of the cast of the show, on a I was, you know, looking back now, we know how covid played out, but at the time, it was like they made the announcement, I'm somebody who works 80 hours a week, and I'm looking at potentially, could we be a year with not working and doing nothing. So I'm like, we really need to do something to market. I go, why don't we do a reality show about real estate? And he's like, What in the hell do you know about producing a TV show? I go, well, nothing, but the whole world stopped. There's got to be people. We must know, people in TV who might be sitting at home and might be willing to help produce the show. And he started laughing. He goes, Well, actually, one of my college roommates is high up at Viacom, so we called him, and we put together a whole production team of 50 people in the middle of covid, put out a casting call and filmed the show, and it did really well. And then we kind of went around to the networks and made a deal with a E, but with A and E, I really wanted to show off commercial real estate and kind of show it to the average person and show them, hey, here's this thing that people can participate and be a part of. And it's a super interesting industry because, like, when I was 22 I was the youngest exclusive Starbucks broker in the country. So have you said that coffee shop that ends up in the corner? I was the guy that, you know, Starbucks would run their software and say, you run traffic counts that are available on, you know, state, D, o, t websites. People don't realize when you're driving down the road and you see the rubber thing goes, that's actually either a traffic engineer or the state, and they're seeing how many cars a day, but they're also tracking to the hour on which side of the road. So like, why is McDonald's on the pm side of the road? Or why is Starbucks or Duncan or seven brew coffee? Why are they on the am side of the road? Because they know, looking at the traffic patterns, who's going where. So when we would negotiate a deal like that, they would say, Hey, here's the target markets we want to be in. I was the boots on the ground, so to speak. That says, Okay, let me look up the tax records and let me look up the tax maps. I know they need three quarters of an acre to an acre to fit on. They want to be at a traffic light. We need this many cars per day. Hey, it's great. If we're across the street from a university or a hospital or a major office park or a grocery anchored shopping center. Can we get out in the out parcel? There's a deal structure to it, and then you negotiate the rent and how much tenant improvement dollars, or what contributions the landlord is going to make to the deal. And that's kind of how we identify, you know, locations and negotiate. And as a broker, I get paid a percentage of that overall lease value or a sales transaction,   Keith Weinhold  14:36   well, talking about making decisions in the face of uncertainty. I mean, there it is. Case in point, you put together the architecture of a show like this during the pandemic, during the height of uncertainty. That was a really interesting thing that you said when you talk about how, for example, you probably do want to have a coffee shop located, I would imagine when you're in bound on the right. Side of the road there sort of for am traffic, 100%   Todd Drowlette  15:05   the same reason, like restaurants that are more dinner based business, businesses will be on the pm side the afternoon drive home. Or liquor stores typically like to be on the pm side of the road because people are going home, they pop in and just continue on their way home,   Keith Weinhold  15:20   right? That makes total sense to me. Todd, you do have this great command of real world negotiation tactics, helping to be sure that those prime locations, sort of like we just described, play out and happen from this $2 billion in closed deals, which is a remarkable figure. I'm sure a lot of it has to do with who you work with, who you're negotiating with. Trump was negotiating Manhattan real estate deals, and now that's pretty different, as he's trying to broker a ceasefire agreement among foreign nations. So you've got all these stories, from working with small business owners to multinational brands. So can you tell us about how who you work with changes your approach?   Todd Drowlette  16:04   You have to always know what your goal is, and the more research you know about who you're negotiating with, and the more you understand them, the better you're going to do right. Sometimes winning in negotiation is about winning. Sometimes winning in negotiation is just about not losing so sometimes I have clients that say, Get me that particular piece of real estate. I don't care what it costs me. Just get it under any circumstances. I don't care you have I have other clients like, I represent a clothing chain that's like, similar to a TJ Maxx or Marshalls. They've been around 40 years, called label shopper. They're in secondary and tertiary markets all over the country. They are very inexpensive, and they pay very low rent, and they're opportunistic. So the approach for every single deal is completely different on depending what the person's trying to do, but the tactics always the same. I always try to, as a broker, you're in the middle, so I'm always trying to figure out what are the actual deal breakers and what's motivating this side that side, and then you meet somewhere in the middle. And I try to do deals where nobody feels like you bend them over a barrel, you know, and they have a vendetta for 20 years, because it's a very small world in a very long life. So if you really stick it to somebody to the point where they hate you over it, you don't know what's that deal next week or 20 years from now that you really need and find out that person is the kid of the person you really stuck it to, and now, all of a sudden, that deal you need comes back to haunt you from the deal that you won 20 years ago. So I try to like, let people keep their pride intact, and there's a lot of like for just general negotiations. A lot of people negotiate against themselves without even realizing it. So most people fear silence, and I always say, whoever talks first loses. So if I throw out like a number, like if you were selling me something, and I said, I think my top number is $100,000 I will not speak until the other person speaks, because most people are afraid of silence. And if I throw that number out, I'm gonna go, Oh my God, he's not responding. That number is too low, and I'm instantly gonna go, well, maybe I could pay 120 or maybe I could pay 150 I've seen people do it a million times. So when I'm negotiating against people, whatever they say to me, I never respond until they talk a second time, because I wanna see how much line there is in that run before it gets to the end, and whatever number they stop at, that's where the negotiation starts. And so many people do that. They just negotiate against themselves, unintentionally   Keith Weinhold  18:31   get comfortable with silence. Oh, you just brought up so many good points there. Todd, such an important one in negotiating. You sort of touched on it is that successful negotiation is finding out what the other side wants. I might be willing to pay you full price if you give me my timeline, say you get me to the closing table in 30 days rather than 90. So terms often mean more than price. So can you speak more about how to find out what the other side wants and making sure they actually get it while still getting what you need.   Speaker 2  19:03   It depends on person. I mean, generally, this crazy and dumb of an answer as it sounds, is I just ask anyone who's blooming knows I'm a very direct person. If I won't ask you on Monday morning, how was your weekend, if I don't sincerely care how your weekend was, I'm very much a get to the point type of guy, and I find in negotiating, unless I know the person in advance, or I've done research, that there's somebody who likes to circle the wagons and go around I'm kind of a very direct right to the point kind of person. So I'll say, listen, here's things that are important to my client, what's important to you, and let me see if we can work something out that either we both can mutually agree upon and feel good about or if we can't get a deal done, I always say, I'll take a quick no over a long maybe any day. I find most people will tell you like it kind of throws people off, because most people are slick and sly, and they kind of like circle the wagons. I think people, if they like my personality, they'll find it refreshing, because whatever I say or mean is what really what I say or mean, I'm not hiding anything. So when I say, Listen, I have a client. This is what they want. Can we get this done? You'd be amazed when you're candid with people, how directly candid most people are, because it kind of throws them off, and they don't really have any choice but to be honest   Keith Weinhold  20:17   yeah, how weird this guy actually says what he means. It means what he says. A lot of people really aren't used to that type of approach. You're listening to get rich education. We're talking with the star of the upcoming A E show the real estate commission. Todd Drowlette, more, when we come back, I'm your host. Keith Weinhold    Keith Weinhold  20:35   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Chaley Ridge personally while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com. You know what's crazy?    Keith Weinhold  21:08   Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds, just sitting there doing nothing. Check it out. Text family. 266, 866, to learn about freedom family investments, liquidity fund again. Text family to 66 866,   Robert Helms  22:16   Hi everybody. It's Robert Ellens with the real estate guys radio program. So glad you found Keith Weinhold and get rich education. Don't play your Daydream.   Keith Weinhold  22:35   Welcome back to get rich Education. I'm your host, Keith Weinhold. We're talking with the star of the upcoming A and E show, Todd Drowlette. He's not shy. He will also tell you that he is the most prolific commercial real estate broker in the entire nation, and it's great to have him here. Todd, I know that through all your dealings, again, 1700 deals, it's put you in between a lot of interesting situations. And it sure isn't always about the numbers. Sometimes it's about the story,   Todd Drowlette  23:06   a very interesting story. So I mentioned earlier that I have a client called label shopper, that's a off price clothing chain. I was doing a deal in Oxford Maine, which is a very small town, and, you know, Central Maine, and I called up this time when fashion bug had gone out of business, and we were taking over closed fashion bugs, and they said, You got to talk to Bob. I didn't know who Bob was. Bob gets on the phone. He was the biggest stone Buster you could ever imagine. I'm negotiating the deal with and talking to him, and I realized the guy kind of just wanted to fight, and he had multiple shopping centers that he wanted us to look at. And I'm like, Bob, we have enough time to get up there. And he's like, Oh no, no. I'll send my helicopter down to millionaire in Albany, New York, and I'll pick you guys up. I'll show you my three shopping centers. I'll have you back in the early afternoon. And the same guy, while he said that was literally arguing over a difference of $5,000 on my commission that I wanted for the deals. And like, I go, I'm like, Bob. So I googled the guy, and then I realized he was a billionaire, and he had founded the NASCAR track in Loudoun, New Hampshire. I said to him, I go, I'm going to say something to him, and I'm not going to speak until he speaks. And I literally go, Bob, give me the difference of the five grand on the fees. I go, stick your helicopter. I go, and I'll drive up. And I literally stared at the clock on my wall for 33 seconds. And then finally, he's like, well, well, all right, I'll give you the money. But if you don't like that, you can go to Plum hell. And I started laughing, and I said, Okay, I go. I'll call you on Monday. So I call him up on Monday. Okay, Bob, we're gonna take the deal. We're gonna we'll drive up. And he's like, No, you sob. He's like, I'm sending the helicopter anyway. It's gonna pick you up tomorrow at 9am we end up flying up to his huge estate in Lake Winnipesaukee. We land in this like, looks like Beverly Hills, manicured garden. This guy walks up to me with his son, gets in the helicopter. After he looks at my client, Peter and I, and goes, which one of you two is Jesse? I go, Jesse, I'm like, I'm Todd, and he's Peter. He goes, No, Jesse, James robbing me blind on the commission. We birthed out laughing, and then we were friends ever since, unfortunately, he died recently, but he was, like, the most fascinating, coolest guy I met him. He was in his mid 70s. He went into his 80s, but he was literally a self made guy that, you know, grew up in Connecticut on a tobacco farm. Parents had no money, you know, never went to college, and just the most fascinating guy he could decide on a deal on the back of a napkin with a pencil he always kept in his pocket. So you never know in the world, like who you meet and who you're going to become friends with, and that's just funny stories of really fascinating, interesting people I met in very unlikely places,   Keith Weinhold  25:51   amazing. You just don't know everyone's story when you first meet them. 100% Todd, a lot of your experience has given you insight on how to help develop some of the best real estate technology in order to make deals more efficient. For example, I know you developed a software platform that's soon launching that competes with costar and LoopNet. So tell us more about what you're doing in the real estate technology space and about trends there.   Speaker 2  26:18   So we have software that's the same name as the show the realestatecommission.com it's kind of a category killer. So very, very low monthly price. People can post properties. They can search commercial properties. There's blogs so you can follow up and learn you know about commercial real estate. You can find traffic counts that we referenced earlier. You can run demographic reports and say, Hey, in this particular block, or from this street over to this river, or in one mile or three miles or five miles, how much money does the average person have? What are median incomes? What race are they? What's their education levels? That's all information that exists in the public domain, but software companies charge a fortune for it, even though it's public information. Just to aggregate it, we've put all the information, and we want the information to be inexpensive and available to the average user. The other interesting thing about what's happening right now is the larger companies are kind of asleep at the wheel, where you can buy your way to the front of search results in Google and Bing, the amount of daily searches that are going to platforms like chatgpt and other AI search engines is astronomical, and you can't buy your way to the front of those search engines right now. So if you're up on your SEO search engine optimization game, it's like resetting the clock 20 years that you have another chance to bite at the apple to get customers and clients potentially directly in front of you to your platforms. So it's a really exciting time and software right now.    Keith Weinhold  27:46   That's interesting how consumers have shifted away from Google and some of the more conventional search engines, where deep pocketed people and companies can buy their way to the top. So tell us more about really the opportunity there, because that's really interesting.   Todd Drowlette  28:01   So essentially, if you understand so search engine optimization, SEO, if people don't know what that is, that's essentially you can do things to optimize your apps or your websites that allows people it's how the Internet finds you, so to speak. So there's basically ways that you can put in code that aren't complicated things, but you can also specifically submit those things to directly to chat, GPT and the other platforms, and then they go through and they index your site, and again, they're looking at it, going well, what's the most relevant so if you look at how people are searching and what the terms are, you can figure out those terms, and then you can make sure you come up at the top of those search results. And like I said, a lot of the bigger companies in different industries, from residential real estate to commercial real other things, those people rely heavily on just buying their way to the top of search results. And you can't do that right now. And I don't remember the last stat I saw was about 30 days ago, and it was something insane, like 180 million searches a day are being done on just chat. GPT, so that is a huge market that people can get their way to the top of, where you're not competing directly with a big boy, so to speak.   Keith Weinhold  29:11   Yeah, this is a way for you to get found for sure. Todd, dealing with commercial real estate, we know that that entire industry has been subject to these interest rate resets, where in the residential one to four fixed mortgage rate world, we really haven't been so I'd love to know from your perspective, and being this broker that does all this negotiating from your unique vantage point, how have higher interest rates changed things   Speaker 2  29:39    I'm often told To never make predictions, because you can be wrong. I'm somebody who's made calculated risks my entire life, and I'm not afraid of being wrong. The commercial real estate industry, I think, is about to have a coming to God moment that I think we're three to nine months away from, and the reason for that is, unlike residential loans that are 20 or 30 year. Or 15 year mortgages that are self amortizing. Commercial loans typically have a 20 or 25 year amortization, but only a five year term, or sometimes you're lucky, a 10 year term. And what happened was, when covid drove interest rates down, I have some clients that had interest rates that were 2.5 2.8% and the problem with that is interest rates are now over six so we're coming up on that five year period where you could have the same tenants, the same income, the same taxes, same expenses, if you have to refinance in the next three to six months, and those rates don't drop by at least a point, there's going to be blood in the streets like you've never seen. It's going to make the financial meltdown in 2008 2009 look like a walk in the park because you have so many loans. That's why Donald Trump, even though he's a president, that guy is, was and will always be a real estate guy. He isn't saying why he's doing it, but the reason he's pushing for the Fed so much to drop the rate is because commercial real estate is going to get murdered if the rates don't drop by at least three quarters of a point to a point in the next three to six months. That's why you're seeing the heavy pressure from Donald Trump to the Fed, because there's a lot of commercial real estate guys that have been playing musical chairs, and there's one chair for every 10 people when the music stops. So anyone listening who's only been in one to four in that unit, if you're sitting on cash, you're going to have the opportunity to buy small strip centers, you know, small office buildings, smaller properties where you can get your feet wet, where banks are going to be giving these things back, just trying to get out from underneath them. I'm willing to be wrong. I can be the guy who said it. If something drastically doesn't change the next three to six months, you're going to have major defaults. Another thing nobody's talking about is, for the last year, home loans and credit card default rates have been sky high through the roof, which means the economy is strong, as people are acting like the economy is. It's kind of like the emperor's new clothes or new robe. The economy is walking stark naked down the street, and everybody's pretending that it's wearing, you know, fine linens. And I think the rubber is about to hit the road if interest rates don't drop very quickly.   Keith Weinhold  32:04   Tell us how bad you think it will get. For example, nationally, we've seen apartment building values fall 25 to 30% or more, and some certainly not all, but some office buildings fall in value 80% tell us more. How bad will it get? Who will it be worst for?   Todd Drowlette  32:25   So the problem with a lot of commercial loans. So a lot of commercial loans, the banks are lending money to borrowers based on the credit of the leases of the tenants. Like when you own a residential portfolio, they're looking at your credit score, your assets and liabilities, deciding, okay, we're lending you the money and we have recourse. We're gonna come after you if this doesn't work out. There are a ton in commercial real estate of non recourse loans, meaning the only thing I'm risking as the owner is this property and my down payment. If this goes bad here bank, here's the key back. You can't come after me. Personally. You can't affect my more. This is non recourse. So as those large office tenants go bad, or the economy goes bad, and all of a sudden their credit ratings, of those things drop, you're going to have banks left holding the bag to the tune of hundreds of billions, if not a trillion dollars. It's going to be bad,   Keith Weinhold  33:15   and who knows if the banks will get bailed out. I don't really know if that's the right formula, if that's the right example to set there where we publicize losses and privatize gains.   Speaker 2  33:28   I mean, they might argue it worked in 2008 2009 but even if that's the case, you still have a lot of people commercial real estate's driven by ego. So before the the actual foreclosures that can take one to two to three years to finalize out with the court systems. You still will have people doing short sales. So there will be a big opportunity for people to make a leap into commercial real estate. And guys ahead of me that you know taught me the business always said you make money in real estate when you buy, not when you sell. Anytime you can buy $1 for 50 cents, you buy that dollar. So if the market drops, and you know, that's a great location of a great property that has a good roof, has good mechanicals, is in a great location. If that thing was trading for $4 million and you can buy it for 1.5 million today, that's when you buy and then you write it back up. And you know, there's guys like me, I negotiate and broker for a living, so I have an advantage that I can go out and get the tenants and find the tenants. But there's guys that do what I do, and women that do what I do, all over the country. So people can start aligning themselves with local commercial real estate experts. And maybe it's the time that they can say, You know what, maybe I'll buy a 10,000 square foot office building and give it a try. Maybe I'll buy a two or three unit strip center that has a nail salon or a beauty salon or things in it that Amazon isn't going to come along and knock out of business.    Keith Weinhold  34:52   What sectors are going to have the best opportunities?   Todd Drowlette  34:55   I'm heavy, heavy, heavy on office so I'm a big proponent of reading books that are out of college. Be right. So I love reading books that were written interviewing the robber barons, you know, the Rockefellers, the carnegies, but were written at the time they were still alive. And there's one thing, when you go back to like the panic of 1893 or 2001 you can go back and look at all these things that happen, and things are based on cycles. And one thing I can tell you with absolute certainty is the people who don't panic in times of panic when everything drops and falls apart. They're the people that in the shortest window in a two to three year recovery period where that dollar dropped at 50 cents, and it's just coming back to $1 but they bought it at 50 cents. They're the guys in like every 10 or 15 or 20 years that ride a two or three year upscale when everybody else is panicking, that's when they buy the stocks, that's when they buy the real estate, when it's low, and then they ride it back just to normal. It doesn't have to get better, it just has to go back to sea level. And I think that's about to happen in commercial real estate. And I think office is a great market because it's been getting murdered in the headlines since covid, but in any headline, there's always an opportunity, because that scares a ton of people out and people will fire sale stuff because they think it's bad and there isn't bad real estate, there's bad deals. And if you overpay for something, they're the people who get hurt. If you underpay and buy something in a value, you can make deals other people can't, and you don't take the hits the way other people take the hits. People need to be conservative. So many real estate people are like, Oh, put as little cash into the deal. Borrow as much as you can. Highly leverage, leverage deals, leverage deals. And that's fine when it works, but when it doesn't work. You know, people who could have a $50 million net worth that become broke overnight because they never took the money off the table. To me keep some of that money in, pay down your debt and just increase your cash flow and work off the cash flow. That's always been my strategy. I have friends who make a fortune and they live that high life. I like calculated risks, and to me, I never want the bank to be my boss. I like being the boss's bank, and if you owe them too much money, and especially if people cross collateralize loans and say, this is a great property, but let me borrow against it to buy this property and this property, that can be the domino effect when it goes badly all of a sudden now you put all your assets at risk. I always strongly encourage people to not do that and to keep their loans and to keep their assets separate.   Keith Weinhold  37:18   Yeah, loan terms can certainly be more precarious on the commercial side than the residential side, much of it due to fixed versus variable. History doesn't repeat. It often rhymes, and sometimes in some sectors, you want to be that buyer, when the reaction to you buying is like, are you nuts? What are you doing? Maybe office is at that point. Todd, this has been a great chat about negotiation and industry trends and more. Again, the Real Estate Commission, the show on A E debuts October 12, Todd. Do you have any last thoughts, or maybe a call to action for our audience if they want to learn more about what you're up to?    Speaker 2  37:56   Yeah, if they want to visit the realestatecommission.com my instagram handle is at better talk to Todd and at the real estate commission, and the show begins airing on October 12, on a next day streaming. And I think people, if they have interest in real estate, will find this show fascinating, if not at me at better, talk to Todd and tell me what you think of the show,   Keith Weinhold  38:20   Todd. It's been an engaging chat. Good luck on the TV show. It's been great having you here.   Todd Drowlette  38:25   I would love to come back anytime, and thank you so much for having me. I always appreciate your time. And I love the podcast,   Keith Weinhold  38:31   yeah, and I appreciate that Todd is a GRE fan. It's always great to have celebrity listeners like him, but to me, it's just as special to have you as a listener. What a wide ranging conversation between Todd Drolet and I today. It just shows the breadth of his knowledge. And Drolet is spelled D, R, O, W, l, e, t, t, e. You know, these prominent negotiators, including when we had Chris Voss here, they don't have this disposition of some vicious pit bull. Instead, they come off as reasonable. It doesn't feel hard nosed like using well placed silence that Todd talked about today, he's a pragmatist, and even comes off as likable. See if you can feel that, and video helps here, the video of our chat today might be on our get rich education YouTube channel by now, when you drive around, have you wondered about that? Before? You know that was super interesting about how coffee shops are on the am side of the road, meaning, as you're inbound toward a city center, they'd be on the right side a liquor store on the pm side. You've got to think about how humans interact with real estate. For example, a car wash that's best placed on the. Pm side of the road. I mean, most commuters, they don't leave extra time during their morning commute to get their car washed. They don't want to feel rushed. People are more likely to wash their car after work. So it'll be on the right side outbound, which is the pm side. And let's keep in mind too, that the US and Canada, for better or worse, have car centric cultures. So these things matter here more than they would in, say, the Netherlands, the location of commercial real estate. I mean, it comes down to tax maps and traffic counts and income levels in this AMPM side, and some want to be at a traffic light, you're going to get more traffic if it's already stopped or slowed down, is it across from a university or a hospital or a grocery anchor shopping center that makes it more desirable for a location? So really some interesting demographic and economic considerations there. Todd likes office real estate as return to Office. Policies help somewhat with absorption there. It is not accurate to say that office real estate is dead, perhaps permanently contracted. Is more like it, yes, the scenes from another popular show, the office with Dunder Mifflin in Scranton, Pennsylvania. Those scenes are diminished, but they are going to live on. Speaking of popular shows, check out our friend Todd Drolet in the real estate commission starting October 12 on A E, besides being entertained, it might make a daunting topic like commercial real estate feel somewhat more approachable for you. Big thanks to Todd Drolet. As far as listening to get rich education every week, what you've got to do on most platforms to ensure that you don't miss it is be sure to find the Follow button. Hitting follow will get it delivered until next week, I'm your host, Keith Weinhold, don't quit your Daydream.   Speaker 3  42:08   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  42:31   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers, it's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read. And when you start the letter, you also get my one hour fast real estate, video, course, it's all completely free. It's called the Don't quit your Daydream. Letter, it wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind, take a moment to do it right now. Text, gre 266, 866, you    Keith Weinhold  43:47   The preceding program was brought to you by your home for wealth, building, get richeducation.com   

In some markets, you can buy suburban office property for as low as $10/ft where it costs $200/ft to build. What's more, you don't have to find off-market deals, they're listed publicly on LoopNet, Crexi, and other prominent sites. As workers have moved to the suburbs and left downtown offices, they've chosen to work closer to home. Suburban buildings with one to three person offices in particular are seeing strong tenant demand. As a result, many suburban office buildings are at 90% occupancy.  Ash Patel, a successful discount Value-Add investor, invests in office buildings, flex Industrial, strip retail, and ground up construction. Ash doubles his money on most deals in three to five years. 

Should you be posting rental rates on sites like Crexi or LoopNet? In this episode, I explain why I don't—and why you shouldn't either. A Facebook post from a frustrated agent sparked this conversation, but it revealed a much bigger issue: in retail real estate, rent is never one-size-fits-all.I walk through exactly how I price space in my shopping centers, from tenant type to visibility to square footage and even lease term. I also share a story about a client who was charging the same rate—$23 PSF—across every property, including a second-story office and a Publix-anchored outparcel. Spoiler: We fixed that, fast. If you're looking to maximize NOI and get strategic about rent setting, this episode breaks down how to think like a pro.Key Insights:✔️ Rent should vary by tenant use, size, visibility, and lease term✔️ One flat rate across all units can dramatically limit your upside✔️ You can and should charge more for endcaps and high-traffic locations✔️ Don't let online listings lock you into underpriced deals✔️ Educate your leasing agents on rent flexibility✔️ Strategic rent setting = long-term NOI growth

We're bringing back some fan favorite episodes! This week, we're bringing back Nicole Brambila's interview from January 2024. Nicole Brambila is the CRO at Medely. Nicole brings more than a decade of sales leadership experience to the conversation. Before Medely, Nicole worked at Deputy, Eventbrite, and LoopNet. In this episode, Ross and Nicole discuss how to operationalize deal excellence by being curious and intuitive, and following proven processes.

Buying a shopping center off-market? It's not fast. It's not easy. But if you play the long game—it can be wildly profitable. In this episode, I reveal how she secured multiple off-market deals by doing what most investors won't: cultivating relationships for years.From befriending a 76-year-old owner (who eventually made her his 50/50 GP partner!) to pulling off a seller-financed deal in under 30 days, I share the behind-the-scenes stories of mu best acquisitions—and exactly how I made them happen. I also explain how one coaching client turned an outperforming asset into a portfolio expansion using the “knock-on-doors” method.If you're tired of getting beat out on listed deals or just want better returns, this episode is your roadmap to relationship-based acquisitions that actually work.Key Insights:✔️ Off-market deals take patience—but can deliver incredible upside✔️ Add value early—before an owner is ready to sell✔️ Seller financing is possible—even on a tight timeline✔️ Managing and leasing for free can be a strategic foot in the door✔️ Use overperforming assets as a launchpad to buy nearby centers✔️ Don't wait for deals to be listed—make the first moveWhether you're a long-term investor or just breaking into CRE, this episode will challenge how you think about deal sourcing. The best opportunities aren't on LoopNet—they're hiding in plain sight.

Send us a textCurious about commercial real estate but unsure where to start? In this enlightening conversation, commercial lending expert Kamyar demystifies the process of acquiring commercial properties and reveals why they often represent superior investments to residential real estate.The financial advantages of commercial property ownership become immediately clear as Kamyar explains the hands-off nature of management - "You're literally just getting rent every month" while tenants handle most maintenance responsibilities. This stark contrast to the constant demands of residential properties makes commercial real estate particularly attractive for investors seeking passive income streams.Before taking the commercial plunge, prospective investors should perform crucial preparation steps. Reviewing credit reports, analyzing tax returns, and understanding different qualifying ratios for owner-occupied versus investment properties form the foundation of successful commercial investing. The conversation explores various financing options, from 25-year fixed SBA loans to conventional structures amortized over decades.Tax strategies emerge as a compelling reason to consider commercial investments. Cost segregation allows accelerated depreciation, while opportunity zones offer potential elimination of capital gains taxes after ten years of ownership. "I have clients that buy one or two buildings a year just to take advantage of cost segregation," Kamyar reveals, demonstrating how savvy investors leverage these advantages to rapidly expand their portfolios.The discussion extends beyond immediate benefits to long-term legacy planning. Establishing trusts that ensure properties remain family assets across generations creates true multigenerational wealth rather than temporary prosperity. First-time investors receive practical guidance: focus locally, determine your investment goals, and leverage free resources like LoopNet to identify properties.Ready to transform your financial future through commercial real estate? Connect with experts who can guide your journey and subscribe to continue exploring wealth-building strategies that stand the test of time. Thanks again for listening. Don't forget to subscribe, share, and leave a FIVE-STAR review.Head to Dwanderful right now to claim your free real estate investing kit. And follow:http://www.Dwanderful.comhttp://www.facebook.com/Dwanderfulhttp://www.Instagram.com/Dwanderful http://www.youtube.com/DwanderfulRealEstateInvestingChannelMake it a Dwanderful Day!

In certain markets, you can buy suburban office property for as low as $10/ft where it costs $200/ft to build. What's more, you don't have to go through the toil of finding off market deals, they're listed publicly on LoopNet, Crexi, and other prominent sites. As workers have left downtown offices, they've chosen to work closer to home. Buildings with smaller one to three person offices in particular are seeing strong tenant demand. As a result, many suburban office buildings are at 90% occupancy.  Ash Patel, a successful Value-Add investor, invests in office buildings, flex Industrial, strip retail, and ground up construction. Ash doubles his money on most deals in three to five years. 

If you've ever searched for land for sale, chances are you have come across Land.com. Land.com is owned by Costar Group, the owner of brands such as Apartments.com, Loopnet and Homes.com. Today is a conversation with Tom Alexander. He is a fellow traditional bow enthusiast and the Publisher of Land Magazine. We discuss what goes on behind the scenes at Land.com, how it works, and what is in store for the future. Search Land.com Buy, Sell, Lease, or Auction Land

Kerry Lutz and Michael Blank discussed Michael's extensive experience in multifamily real estate investments, highlighting the advantages of scalability and passive income compared to his earlier ventures in tech and restaurants. Michael emphasized the importance of selecting the right markets, favoring cities like Atlanta, Dallas, and Austin, while expressing caution about Florida's rising insurance costs. He advocated for a mindset shift among investors to focus on building a team and seeking mentorship rather than solely figuring out tasks independently. The conversation also addressed the challenges of finding commercial real estate deals, with Michael recommending the use of LoopNet and the importance of establishing relationships with brokers for off-market opportunities. He noted that while seller financing is rare for larger commercial properties, financing options for apartments remain favorable, and he concluded by sharing resources for both active and passive investment opportunities. Find Michael here: https://nighthawkequity.com Sign up for his Free Training here: https://apartments101.co Find Kerry here: http://financialsurvivalnetwork.com/ and here: https://inflation.cafe

Send us a textWhat if the future of SEO is being rewritten right before your eyes? Join us as we explore this fascinating landscape as we recap Brighton SEO in San Diego. Together with my insightful guests, Venkata and Zak, we unpack the engaging discussions around AI integration in SEO, brand consistency, and Microsoft and Google's latest innovations. The event was not just about absorbing expert knowledge but also experiencing the synergy between SEO and paid search, thanks to the concurrent HeroConf. This crossover provided the opportunity for additional insights, especially in the realms of reporting and data analysis.Networking is more than exchanging business cards; it's about building impactful relationships. We delve into the immense value of engaging with speakers and vendors, leading to potential collaborations and deep dives into trends like topical authority. Reflecting on the event's accessibility and supportive environment for newcomers, we highlight the opportunities it offers for both seasoned professionals and first-time speakers. Our gratitude extends to Venkata and Zak for their contribution, as we look forward to future conferences and additional episodes discussing more in depth discussions on topics that stood out.Guest Bios:Venkata Pagadala:Venkata Pagadala is a seasoned SEO and Growth Strategist, driving businesses from startups to enterprises generating over $1 billion annually to online success. With data-driven strategies, he has led campaigns achieving 40+ million monthly organic visits and worked with industry leaders like Apartments.com and Recovery.org.Specializing in AI-driven content creation, site migrations, and technical SEO, Venkata excels at simplifying complex challenges to deliver measurable results. Featured on platforms like Spotify and SEOFOMO, he's dedicated to building impactful online presences, sustainable growth, and revenue optimization in the digital landscapehttps://www.venkatapagadala.com/https://www.linkedin.com/in/venkata-pagadala/Zak Perez:With over thirteen years of expertise, Zak Perez is dedicated to optimizing LoopNet.com, the largest online marketplace for commercial real estate, with over 20 million indexed URLs.His background spans SEO, front-end development, UX/UI design, conversion rate optimization, accessibility and AI. He brings a holistic and data-driven approach, aimed at maximizing online visibility, improving user experience, and driving results.https://www.linkedin.com/in/zakperez/

In this company episode on CoStar Group, Speedwell Research draws on their extensive research report to cover everything from Founder Andy Florance's entrance into the real estate data space from his Princeton dorm room to becoming the dominant real estate data and analytics provider. Florance not only beat out competition in the commerical data space, but succesfully entered several new markets including taking a fledging apartments listing platform and driving it to the #1 spot. Today CoStar is looking to do it again with Homes.com, while still aggresviely expanding their growing array of internet real estate businesses. Learn the inner workings of the real estate data and markeplace business, as well as how a company succesfully expanded far beyond their original core product and continues to find new markets to fight after. We hope you enjoy!    Company Description: Real estate data & analytics provider and operator of real estate marketplace. Purchase the full CoStar Group Report here.  More details on our CoStar Group Report  here.  Purchase a Speedwell Membership to gain access to all of our Reports here.   -*-*-*-*-*-*-*-*-*-*-*-*-*-*- Show Notes Section 1: History and Background (2:45) — High Level CoStar Overview (6:15) — Founding History Starts (16:52) — IPOing  (26:54) —  2008 Financial Crisis  (35:40) — Lawsuits and LoopNet  (49:44) — Apartments.com acquisition (59:46) — Xcelligent Lawsuit and the Last of the Direct Competitors (1:04:56) — Closing Out History and S&P 500 Addition * Section 2: The Business  (1:07:35) — Business Section Overview  (1:21:30) — Multifamily and Apartments.com Business (1:29:00) — Residential Overview (1:30:43) — Loopnet Overview (1:34:07) — Other Businesses/ Wrapping Up Business Section * Section 3: TAM and Industry (1:43:13) — TAM Overview (1:50:29) —  How the Residential Industry Works (2:01:15) — Multifamily Industry * Section 4: Competition (2:08:53) — CoStar Competitors (2:15:35) — Why Does CoStar Win (2:23:48) — Why LoopNet Wins (2:25:30) — Zillow and Apartments.com Competition (2:34:03) — Homes.com vs Zillow * Section 5: Growth Opportunites, Capital Allocation, and Valuation (2:40:45) — International (2:46:38) — ROIC, Free Cash Flow,  (2:54:06) — Dilution and Capital Allocation (3:00:33) — Valuation (3:05:45) — Risks (3:10:50) — Bull / Bear Summary (3:15:50) — Conclusion -*-*-*-*-*-*-*-*-*-*-*-*-*-*- Purchase the full CoStar Group Report here.  More details on our CoStar Group Report  here.  Purchase a Speedwell Membership to gain access to all Reports here.   *~* Twitter: @Speedwell_LLC  Threads: @speedwell_research Email us at info@speedwellresearch.com for any questions, comments, or feedback -*-*-*-*-*-*-*-*-*-*- Disclaimer Nothing in this podcast is investment advice nor should be construed as such. At the time of publishing, one or more contributors to the podcast had a position in Costar Group. Furthermore, accounts one or more contributors advise on may also have a position in CoStar Group. This may change without notice. Please see our full disclaimers here:  https://speedwellresearch.com/disclaimer/ 

In this episode, Nico provides a comprehensive guide for deal finders and hunters at all experience levels to acquire multifamily properties. Key topics include the importance of loving the search, narrowing down your market and deal criteria, utilizing various resources like LoopNet, MLS, Crexi, and establishing broker relationships. Additionally, the episode covers direct-to-seller strategies, cold calling, leveraging partnerships, attending meetups, and maintaining a consistent, positive communication approach with brokers to ensure success in securing deals.   00:00 Introduction: Finding Your First Multifamily Deal 00:42 The Love for Deal Hunting 01:14 Choosing and Researching Your Market 02:33 Searching for Deals: MLS, LoopNet, and More 04:22 Solidifying Your Deal Criteria 08:23 Building Broker Relationships 09:44 Direct to Seller Strategies 11:20 Networking and Community Involvement 16:40 The Importance of Consistent Communication 19:05 Final Tips and Encouragement

Ashley Fox, CEO and founder of Empify and the WealthBuilders Community App, was a guest on the latest episode of Nareit's REIT Report podcast. She spoke about the efforts Empify has undertaken to educate individuals with limited funds and investment experience, enabling them to build a financial foundation and begin building wealth.Fox left a career on Wall Street in 2013 and set out to “financially empower the 99% that Wall Street often overlooks.” She created Empify with a goal to become the middleman between financial institutions and the everyday person, “because I understood the language of Wall Street, but I also understood the language in the hearts and minds of both adults and children and Empify bridges that gap.”Empify has launched over 10,000 brand new investors, Fox said, adding that members of the WealthBuilders Community App have invested over $650,000 in REITs. She noted that a key takeway from Empify's five-week REIT Investing Accelerator program is the extent to which REIT-owned properties are a consistent feature of investors' everyday lives.This episode is supported by LoopNet.

Ranjini Venkatesan, vice president and senior credit officer at Moody's Ratings, was a guest on the latest episode of the Nareit REIT Report podcast.Venkatesan discussed how capital investment levels have been high for both Digital Realty (NYSE: DLR) and Equinix, Inc . (Nasdaq: EQIX), and are expected to remain so.“Over the last three years, annual investment by Digital Realty and Equinix averaged 5.5 % of their gross asset base, which is high,” she said. Both REITs have demonstrated the ability to raise capital at healthy pricing through different credit cycles and with strong leasing execution for the properties being built, she added.This episode is supported by LoopNet.

Do you know how to analyze a typical LoopNet listing? Do you even know where to start? Join Julia as she walks you through a detailed analysis of an 11-unit LoopNet listing in Norwood, Ohio, priced at $1.75 million. Learn how to analyze the executive summary, offering memorandum, income, and expenses, plus key financial metrics like cash-on-cash return and cap rate. Ideal for the beginner investor, this step-by-step guide provides valuable insights and essential tips for evaluating LoopNet deals.

Scott Stubbs, executive vice president and CFO of Extra Space Storage Inc . (NYSE: EXR), joined the latest episode of Nareit's REIT Report podcast. During the interview, Stubbs reflected on professional and personal accomplishments and challenges surrounding the REIT's 2004 IPO and discussed further growth opportunities ahead.August marks the 20th anniversary of the Extra Space IPO. Stubbs noted that in 2004, self-storage was not considered a core asset class for a real estate investor.“We were a bit of an outlier at the time and there were still some negative connotations about self-storage. I think that it did take some time to help people understand that self-storage is a great asset class. It's very stable. It is institutional,” Stubbs said.This episode is supported by LoopNet.

Dominique Moerenhout, CEO of EPRA, the European Public Real Estate Association, was a guest on the latest edition of Nareit's REIT Report podcast.Moerenhout discussed political changes underway in Europe and the U.K. today and their impact on listed real estate. He noted that the EU's new competitiveness focus will create a more business-friendly environment, while the U.K. Labour party's proactive policies and commitment to a new industrial strategy are “very welcome.” At the same time, political uncertainty in France following recent elections poses “significant risks,” he said.“Investors will need to navigate these varied landscapes carefully, balancing their opportunities with the potential changes ahead. The return to, in my view, a normal real estate transactions market will probably take more time than initially anticipated or hoped for,” Moerenhout said.This episode is supported by LoopNet.

Chad Tredway, managing director and head of real estate Americas at J.P. Morgan Asset Management, was a guest on the latest episode of the REIT Report podcast.Tredway said the current environment represents “the best buying opportunity” for commercial real estate. Fundamentals are strong and investors are in a position to purchase assets at a 10% to 30% discount compared with pre-2022 levels, “which represents an amazing return.”“Now is a great entry point for those that have capital. And we also see hope on the horizon as we believe rates will come down...we think it's a great time to think about long-term investment in this space and we do believe in real estate as a long-term anchor for portfolios,” Tredway said.This episode is supported by LoopNet.

If you are a commercial real estate broker you need to listen to this conversation with newly appointted Chief Executive Officer Helen Calvin, of the AI driven platform, Buildout.  Helen, at the  time of recording, held the role as chief growth officer.   You'll discover how Buildout is dramatically changing CRE broker marketing methods, both to find deal flow as well as to sell properties, by providing innovative tools that streamline broker workflows, save time, and boost productivity.   Power users of this platform will gain a very significant competitive advantage over brokers who maintain 'old school' ways of conducting business.   Don't kid yourself. Buildout is definitely a case of 'you won't be replaced by AI, you'll be replaced by someone who uses AI.'   Check out this episode; Helen is a great guest and compelling to listen to. Here's what I've got for you in this episode:   Key Topics Covered: Brokers' Workflow on Buildout: Efficiency: Reduces non-revenue generating activities (AKA grunt work). Features: Property research, owner contact info, AI assistant (Al) for task management. Tools: Buildout mobile app for real-time property information and communication. AI Capabilities: AI Assistant (AL): Helps with property valuation, likely to sell scores, and task management. Predictive Analytics: Enhances decision-making by identifying high-probability sales opportunities. Technology Integration and Competitors: AI's impact: Accelerates CRE early adopters' competitive advantage in the industry. Competitors: Buildout competes with platforms like Costar and LoopNet. Innovation: Emphasis on rapid technology adoption and industry-specific solutions. User Experience and Benefits: Power User: Maximizes efficiency and productivity using Buildout tools. AI's role: Automates routine tasks, allowing brokers to focus on high-value activities.   From Helen: Why should real estate professionals be paying attention to AI today? AI is advancing rapidly, making it crucial to find a partner who can leverage it. Ignoring AI can lead to becoming obsolete. How do you use AI daily? Uses ChatGPT and other AI platforms for writing and as a better search engine. AI excels in cross-entity searches, providing comprehensive solutions. What is an easy AI win for viewers? Download Buildout's app (buildout.com), available for free with a $59/month promotion for the first three months. Contact current technology vendors and ask how they are addressing AI and its benefits. Evaluate their responses to decide if they are suitable partners. ***** The only Podcast you need on real estate and AI.   Learn how other real estate pros are using AI to get ahead of their competition.   Get early notice of hot new game-changing AI real estate apps.   Walk away with something you can actually use in every episode.   PLUS, subscribe to my free newsletter and get: • practical guides, • how-to's, and • news updates   All exclusively for real estate investors that make learning AI fun and easy and insanely productive, for free.   EasyWin.AI

In this episode of the RE Social Podcast, hosts Andrew McCormick and Vince Rodriguez dive into the world of scaling impact through syndication with Annie Dickerson of Good Egg Investments. Annie shares her inspiring journey from teaching to becoming a successful real estate investor, starting with house hacking a duplex in D.C. and navigating challenges with out-of-state investments. The conversation delves into Annie's transition into syndication, where she discusses raising capital for larger deals and managing the delicate balance between professional success and family life. Her insights shed light on making real estate accessible, understanding the investor journey, and her acclaimed book "Investing for Good." Tune in for insights on scaling impact through syndication and creating a meaningful presence in the real estate space. Key Takeaways - Journey into real estate investing Challenges and learning curves - Transition from limited partner to co-general partner in - Diverse opportunities Strategies for business growth - Making real estate investment accessible - "Investing for Good," and its purpose - Building Good Egg Investments - Insights into the cyclical nature of the real estate market Resources and Links BiggerPockets https://www.biggerpockets.com LoopNet https://www.loopnet.com Good Egg Investments https://goodegginvestments.com Annie Dickerson's "Investing for Good" https://www.amazon.com/Investing-Good-Surprising-Strategy-Building/dp/B085HRMC8B Connect with Annie https://www.instagram.com/uncanniebanannie/?hl=en https://www.facebook.com/goodegginvestments https://www.instagram.com/goodegginvestments https://www.youtube.com/c/GoodeggInvestments Learn more about AnVi Invest

Our guest for Episode 17 is Nicole Brambila, CRO at Medely. Nicole brings more than a decade of sales leadership experience to the conversation. Before Medely, Nicole worked at Deputy, Eventbrite, and LoopNet.  In this episode, Ross and Nicole discuss how to operationalize deal excellence by being curious and intuitive, and following proven processes. 

EPISODE SUMMARY: Have you ever wondered how a tech professional ends up investing in 100+ unit apartment buildings in Florida? Well, today's episode unravels that fascinating journey with our guest, Jim Lee, a former inside sales rep for LoopNet and CoStar who transitioned into a prosperous real estate investor. Fueled by his early career, Jim developed an interest in property investment that led him to purchase his first property, a two-bedroom condo in Ontario, California. Hear about the metamorphosis of LoopNet and CoStar, Jim's navigation through the turbulent market, and the crucial role of having diverse income streams and understanding your purpose. As we traverse Jim's journey, we also delve into real estate syndication in Florida. Our conversation uncovers how Jim, utilizing his tech background, strategized on networking and partnerships to raise capital and contribute to the asset management team. Understand the power of leverage and the significance of continuous learning in the real estate market. This episode is a treasure trove of experiences, covering the peaks and valleys of the market, challenges encountered, strategies employed, and insightful lessons for anyone with an interest in real estate investment. It's not always smooth sailing, but as Jim emphasizes, understanding your 'why' can drive you towards success. Tune in for these insights and more from Jim's captivating journey. JIM'S BIO: Jim Lee received his Bachelor of Science degree in Economics from UCLA in 2010, and started his career as an inside sales representative for LoopNet/Costar. He began his investing journey of a 2 bed/1 bath condo and now, through real estate syndication, he has invested in over 600 units in the past 2 years where he has participated as a general partner/limited partner. GET IN TOUCH WITH JIM: www.formosainvesting.com https://twitter.com/bzjimlee https://www.linkedin.com/in/formosainvesting/ https://www.instagram.com/formosainvesting/ https://www.facebook.com/formosainvestin/ EPISODE CHAPTERS: (0:00:02) - Real Estate Investing and Success Stories Jim Lee's real estate journey began as an inside sales rep for LoopNet and CoStar, leading to his first investment property in Ontario, California. (0:05:38) - Real Estate Syndication in Florida Tech industry guest's journey from condo to syndication, leveraging debt and networking for 100+ unit apartments in landlord-friendly states like Florida. (0:22:18) - Challenges and Insights in Real Estate Real estate investing challenges, ups and downs of the market, understanding your why, and guest Jim's insights and experiences. If you want to know more about Dr. Jason Balara and the Know your Why Podcast: https://linktr.ee/jasonbalara Audio Track: Back To The Wood by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ Artist: http://audionautix.com/  

Leveraging Syndication to Do Larger Deals Jim's family migrated from Taiwan. It's the classic immigrant story, building a great business from ground floor. Learn about his strategies to grow from tenants, toilets and trash to managing a successful syndication company.     Key Discussion Points [01:07] Introduction by Eric & Steven [03:19] About our guest: Jim Lee [04:33] How did you end up doing Syndications? [07:33] Is the American dream still alive, even for immigrants? [08:20] How did you get started on your first deal? [09:52] Tell us about your first Synidcation deals in Florida [15:33] What were the mechanics of the deal? Cash? Investors? etc... [18:03] In depth discussion: syndication, waterfalls, preferred return, etc. [20:33] How did you find your business partner? And why did you start doing business with him? [23:13] Talk about the underwriting aspect of this deal and the property management. [25:44] Do you have onsite managers for all your properties? How is maintenance handled? [28:39] Are there amentities you provide in the units to add value to the renter? [32:44] Who were you using to put your documents together? [35:14] How can folks contact you? [35:42] Closing comments by Eric & Steven     About Our Guest   Jim is a real estate investor and founder of Formosa Investing. Jim received his Bachelor of Science degree in Economics in 2010 from UCLA and started his career as an inside sales rep for Loopnet and CoStar. By winning a $50,000 sales incentive bonus he used that savings to purchase his first two-bedroom one-bath condo and learned the importance of having multiple streams of income.   Now, through real estate syndication, he has invested in over 600 units in the past two years where he has participated as a general partner and a limited partner     GUEST CONTACT INFO Website: FormosaInvesting.com Twitter (X), LinkedIn, Instagram, Facebook: @formosainvesting

Today, I'm joined by my friend Travis Sherry to learn how to use real estate and short-term rentals to support your travel lifestyle. Whether you're new to the game or a real estate pro, this episode has value for everyone! Travis and his wife Heather combined their love for travel and real estate to build a thriving short-term rental business. One of their properties has even been featured in Conde Nast Traveler as one of the top 14 best beach rentals in the United States! Travis is also the founder of the travel community Extra Pack of Peanuts and the co-founder of Location Indie, a global community for people looking to travel and work from anywhere in the world. In this episode, Travis breaks down his top five strategies, from the lowest monetary investment to the highest. He'll dispel common myths, share his favorite hacks, and we'll explore some key mindset shifts that will completely change your perspective on real estate. What was your biggest takeaway? Which strategy will you try first? I'd love to hear your thoughts and hope you'll share them by sending me an audio message. Premium Passport: Want access to the private Zero To Travel podcast feed, a monthly bonus episode (decided on by YOU), exclusive content, direct access to me to answer your questions, and more? Click here to try Premium Passport for only $1. Tune In To Learn: The misconception about real estate Travis' story with real estate and how he ended up in North Carolina Why you shouldn't be intimidated by real estate or more experienced investors The biggest advantage that has served Travis more than anything else The easiest way to get started and make money while you travel How to get in the game without purchasing any property How to house hack and get creative with your property or home to generate income How to earn passive income with short-term rentals The benefits of investing and the unique way he's leveraging investment properties Travis' top resources to dive into real estate and his best advice for getting started And so much more Resources: Join Zero To Travel Premium Passport Subscribe to our FREE newsletter Today's Sponsors - Airbnb, US Bank, Uncommon Goods Learn about Location Indie and Extra Pack of Peanuts Listen to his short-term rental series on the Extra Pack of Peanuts podcast Travis' resources - Zillow, Redfin, LoopNet, AirDNA, BiggerPockets  Want More? How to Get Incredible Airbnb Deals (and Save More Money) with Zach Busekrus from Sponstayneous How To Use Airbnb to Fund Your Travels (Even If You Don't Own Anything Or Live Anywhere) The Paradise Pack Sessions: Jasper Ribbers from The Traveling Dutchman on Renting Your Home Out on Airbnb Thanks To Our Sponsors Sometimes, it just makes more sense. Book your next group stay with Airbnb! This episode is also sponsored by US Bank's Altitude Connect Visa Signature Card, with the ability to earn up to 5x the points on travel-related expenses like hotels, and rental cars, this card will get you the most return on your next trip.  Get 15% off your next gift from Uncommon Goods by visiting uncommongoods.com/travel.

Welcome to another episode of The Cashflow Project. Today we have a very special guest, an entrepreneur and real estate aficionado, Jim Lee. Born and raised in Taiwan, Jim migrated to the US and began his career at LoopNet, sparking his interest in real estate. His journey is a testament to persistence and determination, as he's successfully scaled to owning 600 units in just two years. Today, we'll delve into the mind of this real estate magnate, discussing everything from the inspiration he drew from Netflix's workplace culture, to the importance of transparency with investors during tumultuous times. We'll also discuss his strategies for increasing revenue, like innovatively charging for amenities. So sit back, tune in, and get ready to navigate the world of real estate with Jim Lee. 02:58 Jobless period helped develop valuable skills. Confidence in business knowledge is key. 04:17 Sales role after college, introverted, successful. Reflecting on past mindset and cultural expectations. 07:59 Struggled to syndicate first real estate deal, educated. 10:51 Networking: Growth requires leaving comfort zones. 13:43 Real estate investment brings substantial financial gains. 17:20 General partner advises transparency, avoid panic. Previous loss due to dishonesty and lack of communication. Current strategy is to inform investors and provide updates. 20:06 "Cut through, improve, opportunities arise, kudos, awesome market" 24:14 Busy professionals can achieve financial freedom through side hustles. 26:54 Persistence leads to eventual success in career. Connect with Jim Lee Website Connect with Tri-City Equity! Website LinkedIn YouTube Facebook Instagram

In this episode, seasoned real estate investor Jonathan Twombly takes us on a journey through the world of independent hotel investments. With over a decade of experience, he shares his insights on finding, renovating, and managing these unique real estate assets. Key Takeaways: Unique Opportunities in Independent Hotels: Independent hotels in smaller markets can often be found listed on platforms like LoopNet and Crexi, providing unique investment opportunities. Brokers specializing in these assets may list them on such platforms to broaden their reach. This accessibility can make finding these opportunities easier compared to larger, branded hotels. The Power of Hands-On Experience: To truly understand the hotel business, Jonathan emphasizes the importance of taking action and gaining hands-on experience. Learning by doing, making offers, walking properties, and engaging in real deals can provide invaluable knowledge and insight. Creative Strategies for Hotel Investments: Jonathan's experience showcases the potential for transforming older, undervalued properties into thriving businesses by applying creative strategies. He highlights the value of market research, renovations, and understanding the local economy to maximize revenue and returns.   Jonathan Twombly | Real Estate Background Managing Member - Two Bridges Asset Management LLC Portfolio: One hotel Co-GP in 2,400 apartment units Based in: Brooklyn, New York Say hi to him at:  apartmentinvestorsclub.com twobridgesmgmt.com LinkedIn Best Ever Book: Who Not How by Dan Sullivan Greatest Lesson: Step away from your computer, and get out into the real world. You will learn multiples by taking action than you ever did from research.   Click here to learn more about our sponsors: Masterworks Delete Me BAM Capital SyndicationAttorneys.com

In this episode we discuss that when working as a real estate agent for investors your reputation is being judged and is on the line with each suggestion. Sending an investor client “deals” with numbers that do not work is a quick way to prove you're an amateur. For investors to be interested in a deal there must be some meat on the bone for them to take advantage of. This means to find something and will take searching high and low and getting creative as to what could be done with the property to create wealth. When searching for properties that may work make sure to think outside the box. Use all your resources to locate a property such as MLS, CoStar, Zillow, Loopnet, Public Record, Reverse Prospecting, Town Hall, ETC. Deals are out there, you just need to find them.

On this episode of The Darin Batchelder Real Estate Investing Show, we have Joseph Bramante sharing his captivating journey in the world of real estate. From dealing with inexperienced property managers to discovering unexpected hurdles during renovations, Joseph's story is full of twists and turns. Joseph's optimism took a hit when he lost his job, putting a strain on the cash flow from his property. But he didn't let that setback stop him. Working two jobs and utilizing platforms like LoopNet, Joseph hustled to find a great deal on a small apartment complex in a prime location in Houston. And guess what? He snagged it for a steal at $25,000 per unit! But the challenges didn't end there. Joseph's career aspirations took a positive turn after a life-changing encounter on a remote island in Papua New Guinea. Inspired by the advice he received, Joseph dove headfirst into real estate investing, devouring books like "Multifamily Millions" by David Lindahl. Armed with knowledge, Joseph purchased his first apartment complex while still living abroad. Now, you won't believe this—Joseph closed the deal without even seeing the property in person! Talk about taking risks. With the guidance of his property management company, he invested more money from his 401K into the property and aimed to double the rents after renovation. Despite spending a year in Australia and being out of touch with what was happening back home, Joseph's real estate venture flourished. His involvement in a massive LNG facility project in Papua New Guinea added to his financial success, even though he couldn't fully enjoy it at the time. But Joseph's journey wasn't all about the money. From a background in engineering and traditional consulting, he found his true passion in real estate and made the courageous decision to pursue it full time. Joining a real estate group and taking their advice, Joseph sold a negative cash flowing property, which was a nerve-wracking experience. However, it ultimately propelled him towards his real estate dreams. As we dive into the current state of the real estate market, Joseph shares his insights on the upcoming elections, potential interest rate changes, and the challenges of property taxes in Texas. Despite some uncertainty, Joseph believes it's an excellent time to buy, with opportunities for those starting out or looking to expand their portfolios. Joseph's company is already involved in development, breaking ground on their first deal and planning more for the future. With a focus on new construction, Joseph aims to provide Class A quality at Class B prices, positioning his company in the upper middle tier of the market. So grab your headphones and tune in to this episode of The Darin Batchelder Real Estate Investing Show to hear more about Joseph Bramante's remarkable journey and his valuable insights on the real estate market. It's definitely a podcast episode you won't want to miss! For links and resources discussed in this episode, please visit our show notes at https://darinbatchelder.com/multifamily-properties  

We are thrilled to welcome former lawyer turned hotelier, Diya Liu, to the podcast. Diya is a true powerhouse in the real estate and hospitality industry. Drawing from her academic background in chemical engineering and biochemistry, she pursued a legal career in patent litigation. However, her incredible success in reaching $200,000 net rental income with short-term rentals led her to make the courageous decision to quit her job and fully immerse herself in the world of real estate investing. With her extensive portfolio, she owns four boutique hotels and around a dozen short-term rentals across the USA. As if that wasn't impressive enough, Diya is also the CEO of Welcome Capital, a remarkable $10 million STR and hotel fund. What sets Diya apart is her ability to leverage her legal background to teach others not only how to achieve financial independence through short-term rentals but also advanced techniques such as off-market acquisitions, creative financing with zero down payments, and innovative exit strategies like wrapped note transactions. She is passionate about sharing her expertise and empowering experienced short-term rental operators and owners to scale into hotel investing.We are honored to have Diya share her invaluable insights, experiences, and strategies with us on this podcast. Diya gives us the lowdown on where to find hotel acquisition opportunities in the best markets, unique marketing strategies for boutique hotels, optimizing operations with new technology, what's in her buy box and why now is the golden era for boutique hotels. Get ready to be inspired and gain the knowledge you need to take your real estate and hospitality ventures to new heights.To learn more, and for the complete show notes, visit: http://thanksforvisiting.meResources:• Instagram: @DiyaESQ• Event: Western NC Hotel Bootcamp & Market Tour August 22-26• Facebook: Airbnb Professional Hosts: Short Term Rentals, Mid Term Rentals, and Hotels• Website: diyaliu.com• Twitter: @diyaesq• Facebook: Diya ESQ• Welcome Capital: thewelcomefund.com• CoStar: costar.com• Cloudbeds: cloudbeds.com• LoopNet: loopnet.com• Crexi: crexi.com• Ten-X: ten-x.com• #STRShareSunday: @thebrooklyninnThanks for Visiting is produced by Crate Media.Mentioned in this episode:Breezeway | Breezeway is our favorite all-in-one property operations and messaging app. We use Breezeway to standardize our cleaning, maintenance, and inspection processes and automate...

One of the methods to find an RV park is to look at “online” listings –typically on RVparkstore.com or Loopnet.com. But there's a lot you need to know about how to properly navigate this deal-finding platform. In this RV Park Mastery podcast we're going to review the basics and give you some tips to be more successful in the online arena.

Keith Weinhold and Ken McElroy discuss the impact of rising mortgage rates on the commercial real estate market.  They talk about the foreclosure of a Houston real estate investment firm, and the need for syndicators to anticipate changes in interest rates and have capital reserves in place.  The speakers predict that high-rise commercial office buildings will be the first domino to fall in the commercial real estate market.  They also discuss the potential fallout from the expiration of commercial debt and the upcoming Limitless Expo event in Scottsdale, Arizona. Resources mentioned: Show Notes: www.GetRichEducation.com/452 Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Find cash-flowing Jacksonville property at: www.JWBrealestate.com/GRE Invest with Freedom Family Investments. You get paid first: Text ‘FAMILY' to 66866 Attend the Limitless event, June 15th-17th: LimitlessExpo.com $22M Office Building to Convert to Multifamily: https://www.loopnet.com/learn/deal-of-the-month-22m-office-teardown-makes-way-for-multifamily/2115617288/ Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete transcript:   Keith Weinhold (00:00:02) - Welcome to GRE. I'm your host Keith Weinhold last year's spiking of the Fed funds rate caused banks to fail this year and last year's. Doubling of mortgage rates is causing commercial real estate to fail this year. Why is it happening? How bad is it with commercial real estate and how bad will it get? That's the topic of today's conversation with Ken McElroy on Get Rich Education.   Speaker 1 (00:00:27) - Taxes are your biggest expense. The best way to reduce your burden is real estate. Increase your income with amazing returns and reduce your taxable income with real estate write-offs. As an employee with a high salary, you are devastated by taxes. Lighten your tax burden. With real estate incentives. You can offset your income from a W2 job and from capital gains Freedom. Family Investments is the experience partner you've been looking for. The Real Estate Insider Fund is that vehicle, this fund investing real estate projects that make an impact. And you can join with as little as $50,000. Insiders get preferred returns of 10 to 12%. This means you get paid first. Insiders enjoy cash on a quarterly basis and the tax benefits are life changing. Join the Freedom Family and become a real estate insider. Start on your path to financial freedom through passive income. Text family to 6 6 8 66. This is not a solicitation and is for accredited investors only. Please text family to 6 6 8 66 for complete details.   Speaker 2 (00:01:36) - You are listening to the show that has created more financial freedom than nearly any show in the world. This is Get Rich Education.   Keith Weinhold (00:01:59) - Welcome to GRE from Montreal, Quebec to Monterey, California across North America and spanning 188 nations worldwide. I'm Keith Wein. Hold in your listening to Get Rich Education. Real estate investing is our major here. Minors are in both wealth mindset and the economics of real estate. That's what the matriculated graduates with here at G R E. You can think of an interest rate as how much it costs you to use money and to help you understand the preeminence of the cost of money. Let's you and I step back together for a second. If you go buy apples at the supermarket and Apple cost increase affects you. If you go buy a gallon of paint at Home Depot, a paint cost increase affects you. And if you go buy an acre of raw land, a land cost increase affects you. But rising interest rates mean that there was an increase in your money cost and you use money to buy those very apples paint or raw land.   Speaker 1 (00:03:04) - And now you begin to realize how interest rates touch and percolate into every single thing that you buy as a consumer or as an investor. And we know that interest rates are not currently high. Historically, yeah, you heard that right now that's not much consolation to those that are in trouble. But the Fed funds rate is about 5% and all year here the mortgage rate on an only occupied home has stayed between a range of six and 7%. Actually, mortgage rates are a little low. Their 50 year average is about seven and a half percent. Well, so then what's the problem? Well, the problem is not what are indeed historically normal rates. It's that rates rose so fast last year. You look at a graph and they climbed a wall. In fact, it's unprecedented, at least in you and i's lifetime to have them rise that fast. Just last year alone, mortgage rates spiked from 3% up to 7%. Economists estimate a 56% chance that they indeed are going to raise the Fed funds rate again. Yep. There is another meeting. Just next week, let's learn about commercial real estate deals blowing up with Ken McElroy.   Speaker 1 (00:04:28) - I'd like to welcome back longtime real estate investor influencer and multi-time bestselling real estate author and G R E podcast guest regular. Really? Hey, it's the return of Ken McElroy. How's it going Ken?   Speaker 3 (00:04:40) - Great Keith, how are you? It's good chief. Terrific. Great to see you in Arizona too recently.   Speaker 1 (00:04:45) - Yeah, that's right. We were just together in Arizona a few weeks ago, both there and everywhere across the United States, we know that residential loans are for the one to four unit space where those properties typically have long-term fixed interest rate debt, 15 to 30 years. The five plus unit department space is tied to commercial lending even though it's residential property and they often have variable rate debt for a shorter term. And commercial loans are where the trouble is in this world of higher mortgage rates. And a few months ago it made a lot of news in our world, Ken, that a Houston real estate investment firm that was at one time one of the city's largest landlords with $500 million worth of multifamily. They got foreclosed on and launched 3,200 apartments at the time. And one major reason were these floating interest rates that rose so much and rents couldn't keep up proportionately and more deals are going belly up like that. So Ken, tell us about what you are seeing out there now in regard to rising mortgage rates affecting the commercial lending market.   Speaker 3 (00:05:45) - Well, it's true. Obviously we all know that the Fed raise rates 10 times, so they were obviously fighting inflation. So if you bid around this business enough to know, know, you should have known that the Fed usually increases rates when inflation goes high. And so it is one of the tools that they use to kind of tampering 'em down inflation because that, no, the Fed is more concerned about inflation than interest rates because you obviously inflation affects everyone. So yeah, if you're in the real estate space, you might feel like you're being picked on. But the truth is, it's not surprising to anybody who's been around that they use this interest rate increases as a mechanism to lower inflation or the masses. So some of those mistakes that were made, I think it was Arbor, you have to go back to the experience of the syndicator. They elected not to buy interest rate caps and have other kinds of protections around those assets. And unfortunately, you know, some of those investors that invested in those assets, those were things that maybe weren't very clear to them. Uh, we're not exactly sure of all the details, but what's gonna happen next Keith, is we're going to start to see there's gonna be a big division of the experience versus the inexperience, I would guess   Speaker 1 (00:07:08) - A divergency, yes, of course that Fed has that dual mandate of full employment and stable prices since they're still doing pretty well on the employment. They want to get stable prices and the way to get a handle on that is to continue to raise rates. And when the Fed raise rates essentially from zero to five in just about a year, things are going to break. And we're talking about right now what is breaking first in the real estate space. And you mentioned a syndicator, when one buys an apartment building, oftentimes they get what's called a value add project, this renovation stage. And during that time they often have this variable interest rate debt. So often we are talking about apartment syndicators here, sponsors that put the deal together and what the syndicator essentially does is buy the apartment, renovate it, raise the rent, and then they cash it out to investors by either selling it or refinancing it at a higher value. And right here, these are the people that we're talking about that are in trouble due to their rates being jacked up.   Speaker 3 (00:08:07) - That's exactly right. I think you always have to anticipate a change in interest rates, whether they're up or they're down. And I think a lot of times people just always believe that they would stay as is. And I think that was obviously a flaw in their thinking and a flaw in their strategy. The other one of course is capital reserves. You know, cash, you have to have all these things in place. It looked to me from the article, the articles and the, and the different pictures and and things I've seen that they may have run into the problems on the management side as well. And you know, so there's a number of issues that I could see potentially that affected them. And I actually am hearing others kind of stories around this Keith as well. The first domino really to fall I think is gonna be some of these highrise commercial office buildings.   Speaker 3 (00:09:01) - That would be my guess because in a very different scenario where a lot of the folks that own those and maybe were in those, a lot of those tenants are deciding that they don't want their people to come back. Maybe they're doing a work from home model or the people that work for them decide that they don't wanna be back or whatever scenarios there are. There's definitely a lot of vacancies. I was looking today, you know, we're looking at pretty high uh, vacancies in la we're looking at very high vacancies in San Francisco, Portland, Seattle, New York. When I'm talking about high, I'm talking about unprecedented. We're talking about 30, 40% in many cases and in some cases even more so we know that if you have a vacancy that high, you're definitely not paying the debt. And so there's all kinds of these big landlords that are actually defaulting on their loans of those commercial office buildings.   Speaker 1 (00:10:01) - Now we're talking about vacancy in the office space there and we think really in our residential world, of course people think of you as a multi-family guy, but you also are in, you know, self stores in some other spaces. But we just think about the crux of the problem and how that's centered on residential. Maybe you can just talk to us, Ken, about exactly the details of the problem or maybe you have an example from a case study and just what that, that structure looks like for those in trouble.   Speaker 3 (00:10:29) - Why would I be concerned about it? Is, is probably a really good question. And the reason is is because don't forget, we all go to banks for stuff. So if it's an auto loan, a residential loan, a commercial loan or a business loan, it's still a financial institution and it's all connected even though we might only be going for one piece of that. And so as the commercial paper starts to default and starts to make its way into these large regional, smaller community banks, then what's going to happen is the underwriting criteria is going, they're gonna pull back because they don't care. They just know that they're taking water in the boat and they're in trouble. So, so that's why I look at it, you know, obviously, but you have to look at the real estate, the landscape completely, and you realize that, you know, while you might be just doing one piece of that, there are lot and these banks are connected out in the community in many, many, many ways, right?   Speaker 1 (00:11:30) - Yeah, that's it right there. Maybe people, some don't think about just a complete seizure and a reluctance to want to extend loans at all if they have enough on their books that are in trouble,   Speaker 3 (00:11:40) - Right? So that's why I'm looking at it from the multi-family standpoint as well, because we're already seeing underwriting criteria or in other words, banks are saying we're gonna give you less 50% loan to value, 55% loan to value. So why would that be? The reason is is that you know, they're looking at their, just like you would be and and all your personal assets that you have, stocks, bonds, gold real estate, whatever it is, business, each one is performing differently. A bank looks at it exactly the same way. So if something's happening over here that's negative, it's affecting over here and it's shining a light on the whole thing. And so we're already seeing a tougher underwriting. And what that means is that means that you're gonna have to come up with more money for down payments. And of course the banks are gonna be very cautious about any kind of lending if it's on a single family, if it's on a multi-family, if it's on a residential or retail or industrial or office buildings or self storage or whatever it might be. It we're all connected. And so that's what I think is gonna be hitting us is we're gonna be in a debt and a credit crisis here in the next 18 months.   Speaker 1 (00:12:54) - So there could be downward pressure on loan to value ratios, your bank wanting you to put more skin in the game so that they are less exposed and you are more exposed there. So we're talking about maybe new purchases oftentimes in that discussion. What about those that have a loan? Maybe the interest rate has gone higher, they want to refinance it. You know, a lot of times we talk about cash out refinances is something that we want to do when equity accumulates, but could this be an environment for cash in refinances with a lot of these commercial loans?   Speaker 3 (00:13:29) - Yeah, so we've done a couple cash in personally. Yeah. So what does that mean entirely? So what happens is, well let's say you had a load at three and now of course they're over five. Well our rate caps hit us at five, but we still don't forget, we went from three to five. So that little bit of piece was expensive for us even though we had a cap though, recap is simply just an insurance policy on the original purchase, that's all. So we're like okay, that cost us about 20 grand a month on this one property as an example,   Speaker 1 (00:13:59) - The rate cap below   Speaker 3 (00:14:00) - The rate cap below the rate cap purchase was less, but the three to 5% that increase in the mortgage payment was about 20,000 a month. Okay, so call it 250,000 for the year for one asset. So you're like, uh oh. I went from having great cash flow to having a lot less cash flow because my rate went out now it hit the cap. Well I was protected but it still went up 2%. So we started to take a look at what would it cost for us to fix this rate and it was uh, about a million bucks for a cash in. So we did it, we said let's do a million dollar cash in, fix the rate because I'm also afraid of future rate increases. So that $1 million that we put in to fix the rate at 5.2%, we know it's a four year payback or 250,000 times four is a four year payback.   Speaker 3 (00:14:52) - So it's a four year loan. But really what we're doing is we're hedging the entire time and of course we have that cashflow coming out each and every month. And the beauty of that E as you know, is what you do is you hedge the upside. You can always re refinance on the doubt. And all I was trying to do was protect that thing from when the recap expired, what's usually caps for two or three years, let's say. I didn't wanna be in a position where it was, you know, six or seven or something. So that's why we did it. We were just protecting against the future. And these are the kinds of things that you can do if you've been in the room before, you know what I mean? You, if you have the experience and and you see these kinds of things happening, you could take action to help yourself and help your investors. And that is clear that the arbor had not set up their loans that way. They had not set up their cash that way and they perhaps weren't looking at some of those things critically like that.   Speaker 1 (00:15:49) - Anna and I were each active real estate investors through the global financial crisis. So we know a crisis well, we see what each crisis is a little different when we talk about hedging ourselves against the crisis. Can you talk about rate caps, which is basically this insurance that one can buy to put a cap on how high their rates can go. If you go ahead and buy a property to 3% interest rate and you have a 2% rate cap, that means your cap cannot exceed 5%. So therefore if rates go up to 7%, you're kind of in the money.   Speaker 3 (00:16:19) - That's exactly right. And so it's clear to me that they didn't buy those cap, by the way, they're not the only one. There are others. And so if you shine the light on the multifamily industry, there's a fair amount of people that didn't do that either, not just them. And also there's other people that don't have the cash perhaps like the million dollars that we used to do a cash in. And so they're going out to their investors to try to preserve the asset. The crazy thing about it, as you know is we're still very under supply and on a housing stamp. Yeah, the fundamentals of the apartments are actually good though we're still seeing a a little bit moderate red growth and we're hitting theis and the occupancies are good. The apartment industry is not in any kind of crisis. The one thing that's changed is the cost of debt has got up a lot.   Speaker 1 (00:17:14) - Why don't we talk about that some more and just how bad is it going to get Ken, maybe through the perspective of just how much commercial debt is about to expire.   Speaker 3 (00:17:24) - If you google this, you'll see that there's about 1.4 trillion expiring by the end of 2024. So that's a lot . And so what has to happen is, Keith, let's say you all bought something. Well actually there's already examples. If you Google, there's an office tower that was appraised and valued at 250,000,002 years ago and it just traded at 70 as an example. Wow. So there's a big, big haircut there, right? So first of all, all the equity on that original deal gone wipe down and then the that 70, all that does is cover part of probably the debt. So some bank somewhere took it in the shorts, you know, on that deal. And so that is a good segue to say what happens is anything that was purchased, let's say in uh, call it one to three years ago, is subject to massive valuation change.   Speaker 3 (00:18:23) - And if they have a situation where they're trying to do a cash out refi and they're not going to be able to, if they have a situation where they're going to sell, they're not going to be able to because the value of that asset is probably 20 to 30% less than it was just two years ago. So what's going to happen is if they can wait, they might be able to wait it out. If rates go down like everybody's hoping it will, or cap rates go back down like everybody's hoping it will, then you're going to be fine. The issue is going to be the maturities and when they hit,   Speaker 1 (00:19:01) - There's a 20 to 30% loss in value as we know at a 75% loan to value loan. Yes, that is a complete wipe out of the equity. Ken, when we think this through, of course apartments have debt that someone is holding onto and apartments also have equity that someone else is holding onto and equity could be held by. It's not just investors in a syndication, it's also a pension fund or a family office. And if these go under, we have to think about those ramifications of course, but we think about equity that's held by LPs limited partners, which are those individuals that invest in a syndication. What do you think that LPs should do? What kind of situation are they in? I mean are syndicators communicating with their LPs and letting them know things like, hey, there just isn't gonna be a distribution this quarter and I don't know about next quarter either or, how's that communication been?   Speaker 3 (00:19:52) - So it's hard to know. Obviously if you read the article about Arbor, there was not much and a lot of the investors were surprised. It's interesting though, cuz if you really dial into it, there's no way that they were making distributions for a long time as the things were defaulting. So there must have not been distributions on those assets for some time. That would be obviously a red flag. So I think that some syndicators are probably communicating very, very well. But in this particular case, that wasn't happening because of what some of the people were saying in the article that had invested with them.   Speaker 1 (00:20:31) - And when you're talking about Arbor, you're talking about that group in Houston that I brought yeah, up earlier. That's really become sort of like the poster child for what's coming can often that might make one think like the LP that invests in someone else's syndication that might make a savvy investor wonder, well gosh, I wonder if there's going to be a contagion effect. Even if a syndicator shows me a deal and that one particular deal looks really good, does that syndicator have other deals behind him that are blowing up and could affect this good deal that looks good in front of me right now. So what are your thoughts about any sort of contagion effect that way? Are you seeing any of that out there?   Speaker 3 (00:21:08) - It's certainly possible. I know that a lot of it's gonna be based around the debt itself. So if somebody got a deal like we did like two years ago or one year ago that put fixed rate debt on it, not a problem. So you have to take a look at the maturity of the debt. There's a lot of people that have bought properties that where they assumed alone in the commercial space you can assume something, people are still doing deals, you know, so if you could step into somebody else's loan at three, three and a half percent, let's say you're not gonna have a default issue, you're not gonna have a debt issue where the debt's gonna go up while you bought something, it's fixed. And that was kind of the whole point. As you know, I've been telling people to get in fixed straight debt for two years. If you go back and look at my videos, I probably said it a hundred times, getting fixed straight debt, getting fixed straight debt, getting fixed straight debt because you have to know what your debt payment is month to month to month for a long period of time. You don't want a fluctuating variable number. And so the people who didn't do that, the people that in my opinion were inexperienced and didn't by caps, this is the result of that.   Speaker 1 (00:22:23) - We've been talking a lot about problems here. Of course the flip side of any problem is an opportunity. You are an excellent opportunist. You just talked about situations where apartment values could be down 20 or 30%. So are you seeing opportunity, especially with respect to apartment buildings and what's going on coming ahead?   Speaker 3 (00:22:43) - We looked at four deals on Tuesday, we've been in opera on one of 'em. So to your point, if somebody's sitting on some assets and they need cash for ones that aren't doing well, for example, they might sell a couple of the good assets. And what's a good asset? A good asset would be something that's highly occupied and is stable and has fixed rate debt and it's something that you can easily underwrite, easily buy, and you know it's gonna be like clipping a coupon moving forward. That would be what I would call a good asset purchase. And those are definitely hitting the market. So I mean, you think about your own portfolio, you know, at any given time you're looking at the winners and you're looking at the losers, sometimes you have to sell a winner to pay for some of the losers. So we're starting to see some good assets hit the market.   Speaker 3 (00:23:32) - That might be great. They help somebody that's um, in a situation that might need cash for something else. So that is exactly what does happen. That is what's happening. So we're gonna be all over those issues and try to snap up some of these really, really nice assets. Another really good opportunity is going to be on brand new class A apartments that are just now being completed. So you know, as you know on a new construction deal, you do not get fixed straight debt because there's no asset. It doesn't exist. So you have a land, you have to build it until it's considered in service, which means you have all the occupancy certificates and it's blessed and the city says, okay, it's all ready to move it. That's in service. And until that point you can't put fixed rate debt on anything. So there's going to be this many opportunities on assets that are under construction that are in trouble because of these high interest rates. People that come in with all cash, for example, are going to be able to buy some of those properties. What I would guess at under replacement costs, it's going be a very exciting time moving forward for buying perhaps real trophy assets or assets up that people have already done a lot of work on or under what they're worth.   Speaker 1 (00:24:51) - That could be a good niche to exploit. You're listening to get Resu education. We're talking with Ken McElroy about trouble in the commercial lending market and how that affects real estate. Warren, we come back. I'm your host Keith WeHo with J W B Real Estate Capital. Jacksonville Real Estate has outperformed the stock market by 44% over the last 20 years. It's proven to be a more stable asset, especially during recessions. Their vertically integrated strategy has led to 79% more home price appreciation compared to the average Jacksonville investor. Since 2013, JWB is ready to help your money, make money, and to make it easy for everyday investors, get started@jwbrealestate.com slash gre. That's jwb real estate.com/gre. GRE listeners can't stop talking about their service from Ridge Lending Group and MLS four 2056. They've provided our tribe with more loans than anyone. They're truly a top lender for beginners and veterans. It's where I go to get my own loans for single family rental property up to four plexes. So start your pre-qualification and you can chat with President Chaley Ridge personally. They'll even deliver your custom plan for growing your real estate portfolio. start@ridgelendinggroup.com. This is peak prosperity's. Chris Martinson, listen to Get Rich Education with Keith Wein old and don't quit your daydream.   Speaker 1 (00:26:33) - Welcome back to Get Education. We're talking with Ken McElroy, longtime influencer and very successful author, A great influencer in the real estate space. And can you hit mentioned some other sectors outside of the residential and the apartment space earlier, and we look at potential problems or opportunities outside of residential and we think about what's happening to office space. You touched on that earlier, that's probably about the worst real estate sector I can imagine in their high vacancy rates, hotels and retail and warehouses, which actually think about one sector as doing pretty good since the pandemic and online shopping really lifted the warehouse sector. But do you really have any other thoughts about those sectors, how commercial loans affect them or any good opportunities in those outside of residential?   Speaker 3 (00:27:24) - As everyone knows, you know, when you buy a home, they look at your FCO score, right? They look at your credit and they look at you or me as the person paying that home as they should. When you move to the commercial side, they look to the asset. So they're very, very different. One's an individual. Another one is the actual asset. So as these asset values go down, as interest rates go up, I think that anything that's going to need any kind of a loan and the next year or two is going to have a problem from an asset value standpoint. Because what we were all used to in the last 10 years were these value add. So you'd buy something and then you would improve it and it would be worth more money at the credit and debt markets were stable, you know, so you could go, uh, you had a very calculated model where you can go put new debt on there and scoop that out and do a cash out refi that's gone right now because the values are down and of course the cash out refi option is off the table.   Speaker 3 (00:28:30) - So th those are the real problems that people face moving forward. So that could be all kinds of things. It could be retail, it could be industrial, it could be multi-family cuz everything is impacted even though we've had high cracy and red growth in some of those areas. If you're a seller that has a 3% loan and you're trying to sell it to somebody like us who's a buyer, we're probably at six or seven. We're looking at cash flow very differently than they are when our debt costs are almost double. So we're not gonna be able to pay that price. And so that's what the debt, rising debt costs have done. If the income, any expenses are the same, but the debt costs are double, then we as buyers can't afford to pay that. So therefore the prices that we're we can afford to pay are gonna be a lot less. And so that's actually what's happening   Speaker 1 (00:29:26) - And what we think of as perhaps ground zero for problems in the real estate market. I think office first comes to mind, you've talked about office vacancy rates in many American cities being really high earlier, it was a particularly noteworthy stat that was released not long ago that in New York City they have 26 Empire State buildings worth of empty office space. So we talk about all this open office space with more of the work from anywhere crowd and this dearth of residential housing. You know, can you experience, do you learn about very many office buildings being viable for tear down and conversion into residential? Or is that not feasible very   Speaker 3 (00:30:07) - Often? Yeah, so that's the million dollar question. What are we gonna do with these big, big office buildings? And think about this, Keith, let's say it's a 50 story building, which is a very common building all over the place and it's got 20 or 30% occupancy. My guess is, you know, what do you do? Like you have to wait until it's a hundred percent vacant, obviously before you can even do something. So what's going to happen is the banks are actually gonna be taking these back, the banks are gonna be managing these and they're gonna have to figure that out. And the only way to take down an office building is if it's a hundred percent vacant. And even then it might not be worth it because let's don't forget, you step into the shoes on day one of the property taxes of the utilities of the insurance, regardless if it's full or not in order to maintain it.   Speaker 3 (00:30:59) - So there's an operating cost that exists whether there are people in it or not. And so you have to be careful that you're not catching a falling knife. You know, like, I mean if somebody said to me, I'll give you this vacant office building or a dollar, I probably wouldn't take it because unless I had some kind of a solution for the, uh, on the income side. So I'm not saying I wouldn't, but you have to have a solution on the income side to cover your operating expenses. Otherwise you're just gonna be writing checks just like the person before you   Speaker 1 (00:31:34) - That is so well explained on the difficulty of making a conversion feasible from office to residential. Well, if you're like me, you read a lot of Ken McElroy's books like the ABCs of Property Management, the ABCs of Real Estate Investing. Can I read the Return to Orchard Canyon on a beach in India a little over three years ago? Actually, I love that more recent book from you and you have a great live in-person event coming up really soon where the audience can come to see you at a bunch of other speakers. It's a fantastic event. It's a second year, you're doing it, it comes up really soon here in Scottsdale. Tell us about it.   Speaker 3 (00:32:15) - Thank you. It's, I cannot be more excited, especially what's happening right now. It's called Limitless and uh, it's at limitless expo.com. So it's just limitless expo.com. But kicking off the very first day is Joseph Wang, who wrote a book called Central Banking 1 0 1 and he is good. He used to work in New York for the Fed and is going to talk specifically about what's the Fed going to do in the second half of the year in 2024 based on all the things that he did on the open markets desk for the Fed. So that's gonna be very exciting. We've got Chris Martinson as well talking right after him, got kiosaki. We have a whole bunch of people around entrepreneurship and um, kind of side hustle stuff just to try to figure out what the heck is happening and what could we be doing to protect ourself moving forward.   Speaker 3 (00:33:11) - So this is really, this year in particular is a not to miss year because these are things that all of us are trying to figure out. I don't have a crystal ball just like anyone does, and I'm studying like crazy to try to figure out what's happening next. We've got 45 speakers all coming to try to help us understand what we can do next. Chris boss, who's, uh, wrote the book, never Split the Difference. If you guys haven't read that book, you need to read that book. He's the hostage negotiator in the world and he works for the FBI and Harvard. And, and his talk is going to be how to negotiate during troubled times because these are going to be real things, Keith, real things that are happening. You know, when there's a debt maturity or a loan coming up or you have problems with your limited partners or, or whatever it might be, this is the room you wanna be and that's the talk you want to hear. Chris is gonna be there, I'm gonna do a podcast with him. He is gonna do a book signing, so it's really fun. It's gonna be Thursday, uh, the 15th, the 16th or the 17th of June. And uh, it's right in Scottdale, Arizona.   Speaker 1 (00:34:21) - Janice Prager will be there as well. And yeah, it seems like you just keep adding speakers. Okay, I wanna talk to you. Last month it was 40 speakers, now it's 45. So you, you have a buffet that you can sample there as an audience?   Speaker 3 (00:34:34) - We do. I can't wait to meet Dennis Prager. I, I've been to his compasses in la I, I'm a big fan of, you know, his messaging and, and what he, he has a billion downloads last year, A billion with a B. That's incredible. So he's getting to be there. I just think it's like the who's who, right? It's tweet thought   Speaker 1 (00:34:52) - 100%. You can get started@limitlessexpo.com. Can I and our audience have benefited from your knowledge for years? Thanks so much for coming back onto the show.   Speaker 3 (00:35:02) - Yeah, my pleasure. Always great to be on   Speaker 1 (00:35:10) - Most of those speakers at the Limitless event. Were guests here on G R E, so you'll probably find a lot of residents there, including Chris Voss who was the FBI's lead hostage negotiator. He was on the show with us here twice you'll remember. And yeah, you'll remember that pretty fondly  because it was entertaining the first time Chris was here back in episode 331, how the World's Best negotiator and I, Chris Voss did a mock face off in negotiating the purchase of a fourplex building. But getting back to imploding apartment syndications, they aren't just blowing up deals and blowing up investors, but also blowing up banks when the borrower cannot repay the loan. And banks have to take back apartment buildings and office buildings unlike, which is actually pretty unusual in a way that they need to take back apartment buildings. I mean, everyone understands how the work from anywhere movement created, the office space decline, but there is quite a demand for all residential types, single family homes and condos and trailers and apartments.   Speaker 1 (00:36:17) - But it's those resetting rates that blow up apartments despite the demand for people to wanna live there. So what this does, it makes banks more conservative with lower rent values being delivered, lower rent to value ratios also coming on the way. I would expect more of that ratcheting down. And for more people wanting to refi from a variable rate to a fixed rate, you know those syndicators they have got to put cash in in order to meet that lower loan to value ceiling will well capitalize syndicators. They can do that and others can't. Syndicators might very well be asking for capital calls from their investors then for their investors to help fund that cash in refi to keep those deals alive. The timeline for when you should expect a lot of this activity are from the peak 2021 and early 2022 deals that had short-term debt on them.   Speaker 1 (00:37:17) - They are going to face resetting rates late this year and into 2024. You probably noticed that just beyond the halfway point in the chat with Ken. I pivoted from talking about problems to discussing opportunity and the opportunity being that others might sell a good apartment deal because they need the cash to get out of that deal so that they can go take those funds and perform a cash in refi and shore up one of their other deals and get that other deal into fixed rate debt. Most modern offices, you know, they simply cannot be adapted over to residential uses due to their wide and deep floor plates that restrict natural lighting to only the perimeters. And because of the overhauls required to run mechanical and electrical and plumbing to individual residential units in the rare office building where conversions are possible, that sort of thing is wildly encouraged by everyone, developers and brokers and all kinds of governmental bodies.   Speaker 1 (00:38:19) - In fact, there was recently a sale of a 150,000 square foot office building in Orange, California oranges between Anaheim and Santa Ana. It's sold for 22 and a half million dollars and it's planning to be converted from office to residential. But yeah, multi-family conversions like that, they just aren't common. And the full story about that from LoopNet is in the show notes for you today. We've been discussing the difference between one to four unit properties and five plus unit multi-family apartments today. The difference in lending is really what makes all the difference. So those larger apartments bought with variable rate debt, say one to three years ago, they are problematic where the one to four unit space instead stays shielded with long-term fixed interest rate debt. Next week here on the show, you're gonna meet our new investment coach at GRE Marketplace. You have heard this person on the show before. I'll introduce you next week. Yes, we're adding a second one to keep up with demand for you. Until then, I'm your host Keith Wein. Hold, don't quit, it's your daydream.   Speaker 4 (00:39:31) - Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial, or business professional for individualized advice. Opinions of guests on their own information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of Get Rich Education LLC exclusively.   Speaker 1 (00:39:59) - The preceding program was brought to you by your home for wealth building. Get rich education.com.  

Bring your knowledge about commercial real estate investing to a new level as our guest, Rinku Patel shares her in-depth knowledge of flex space, industrial buildings, and retail businesses. So, check this episode out if you want to start building wealth around this lucrative niche today!KEY TAKEAWAYSFlex spaces and industrial buildings: What they are and the considerations you need to take before leasing oneRisk mitigation and exit strategies for commercial and industrial RE assetsInvesting in multifamily vs. commercial real estateAdvantages of investing in retail spaces for businessesHow CRE Women Mastermind helps investors get good deals RESOURCES/LINKS MENTIONEDBest Ever Conference 2024: https://www.besteverconference.com/Crexi: https://www.crexi.com/LoopNet: https://www.loopnet.com/ABOUT RINKU PATELRinku Patel works at Invest Beyond Multifamily, which invests in necessity-based commercial real estate properties in growth markets. She is also starting a women-only CRE Mastermind with the goal of empowering women to get into commercial real estate.CONNECT WITH RINKU Website: Invest Beyond Multifamily: https://www.investbeyondmultifamily.com/Facebook: CRE Women Mastermind: https://m.facebook.com/people/CRE-Women-Mastermind/100087267432358/Instagram: @crewomenmastermind: https://www.instagram.com/Crewomenmastermind/CONNECT WITH USSchedule 20 minutes to get to know each otherSchedule 20 minutes to explore performance coaching with JulieSchedule 30 minutes to learn about investing with Three Keys InvestmentsJoin the Book and Networking club via Zoom at: bit.ly/3HBPnQw or sign up at: bit.ly/3c0dr1u to access and interact with an extraordinary group that will help you level up!Visit ThreeKeysInvestments.com to download a free e-book, “Why Invest in Apartments”!Looking to reduce your taxes so you can build wealth? Mode Wealth is a boutique financial firm helping real estate professionals, investors, and entrepreneurs ethically and morally optimize their tax strategy to reduce their tax liability. Learn more and schedule a FREE consultation today! https://modewealth.com/Looking for an affordable healthcare solution? Check out Christian Healthcare Ministries by visiting https://bit.ly/3JTRm1IPlease RSS: Review, Subscribe, Share!

Join Steven Jack Butala and Jill K DeWit on the Land Academy Show as they discuss Land Academy Ladies, their sense of confidence and community, and the importance of technology and innovation in the land flipping business. In this episode, they also talk about their busy week, upcoming events like Career Path, and answer questions from their Land Academy Discord forum. Tune in for valuable insights and advice on land-related topics and how to succeed in the industry. Check out their Land Academy Discord channel at landacademy.com for more resources. Transcript: Steven Jack Butala: I'm Steven Jack Butala. Jill K DeWit: I'm Jill K DeWit. This is the Land Academy Show. Steven Jack Butala: In this episode, number 1,948, today, we are talking in-depth about Land Academy Ladies and their sense of confidence and community. That's topic number one. Then, a little bit later on in the episode, I'm going to talk about what I've learned about technology and innovation from our other career path members in those sessions. How was your week, Jill? Jill K DeWit: Great. Steven Jack Butala: You were out of town the whole time. How is working from out of town in warm California? Jill K DeWit: Piece of cake. It's amazing how much I'll get done without you around. No offense. Steven Jack Butala: I'll take it. Jill K DeWit: It's funny. Yeah. Steven Jack Butala: It's amazing how that's a win-win situation. Jill K DeWit: It's amazing how little you get done when I'm not around. That's really the common theme here. Steven Jack Butala: Is there that much that we need to get done? Jill K DeWit: Wow. We've been busy gearing up for stuff. We've got a couple things coming up. I'm excited about it. Steven Jack Butala: We have Career Path. Jill K DeWit: We always have things going on. I don't know if it's a problem. I don't know if it's a positive or a negative. But you and I don't sit still. That's a fact. Steven Jack Butala: I wonder if it's good or bad. I question that, also. Jill K DeWit: I know. Steven Jack Butala: Hey, I hope you're also enjoying our 2023 format. Each week we answer questions from our Land Academy Discord forum. We review land acquisitions from our weekly Thursday member webinar. That's every week. We take a deep dive into two land-related topics by popular request that I just described. Now let's take a question posted by one of our members on the Land Academy Discord online community. If you want a sneak peek at that, at our Land Academy Discord channel, please go to landacademy.com. It's free in read-only format. People love it. Jill K DeWit: Yeah. Okay. Clay wrote, "I'm looking for some advice concerning a commercial property that I've come across. The owner wants to sell and has two adjacent parcels with road frontage in East blank. Right around this area, there've been a lot of development recently. I mailed him concerning one of the properties, and he asked me if I'd be interested in both. I am, in light of their location, but I have no idea how to comp what the commercial property will be worth. Does anyone have any insight, tips, or suggestions on how to effectively do this? It may not be any different. This is just the first possible commercial deal I've come across." Steven Jack Butala: This is a regular Tuesday for Jill. Jill K DeWit: Yeah. Exactly. I love this. Okay. The first thing I would do, I look at both. I'm still going to go look at active numbers, just ignoring the type of property it is, in a site like Zillow or Realtor, something just for land in that area. I'm going to try to zero in based on the size. I don't think Clay mentioned the size here. Let's just say there are two properties. It's four acres. So I'm going to look at the two- to five-acre properties active for sale, and then what's sold in the last, sometimes six months, sometimes last 12 months, just to get a gauge. Now, I know it's commercial. I needed to take it a step further. I'm going to go to LoopNet.

Join Steven Jack Butala and Jill K DeWit on the Land Academy Show as they discuss Land Academy Ladies, their sense of confidence and community, and the importance of technology and innovation in the land flipping business. In this episode, they also talk about their busy week, upcoming events like Career Path, and answer questions from their Land Academy Discord forum. Tune in for valuable insights and advice on land-related topics and how to succeed in the industry. Check out their Land Academy Discord channel at landacademy.com for more resources. Transcript: Steven Jack Butala: I'm Steven Jack Butala. Jill K DeWit: I'm Jill K DeWit. This is the Land Academy Show. Steven Jack Butala: In this episode, number 1,948, today, we are talking in-depth about Land Academy Ladies and their sense of confidence and community. That's topic number one. Then, a little bit later on in the episode, I'm going to talk about what I've learned about technology and innovation from our other career path members in those sessions. How was your week, Jill? Jill K DeWit: Great. Steven Jack Butala: You were out of town the whole time. How is working from out of town in warm California? Jill K DeWit: Piece of cake. It's amazing how much I'll get done without you around. No offense. Steven Jack Butala: I'll take it. Jill K DeWit: It's funny. Yeah. Steven Jack Butala: It's amazing how that's a win-win situation. Jill K DeWit: It's amazing how little you get done when I'm not around. That's really the common theme here. Steven Jack Butala: Is there that much that we need to get done? Jill K DeWit: Wow. We've been busy gearing up for stuff. We've got a couple things coming up. I'm excited about it. Steven Jack Butala: We have Career Path. Jill K DeWit: We always have things going on. I don't know if it's a problem. I don't know if it's a positive or a negative. But you and I don't sit still. That's a fact. Steven Jack Butala: I wonder if it's good or bad. I question that, also. Jill K DeWit: I know. Steven Jack Butala: Hey, I hope you're also enjoying our 2023 format. Each week we answer questions from our Land Academy Discord forum. We review land acquisitions from our weekly Thursday member webinar. That's every week. We take a deep dive into two land-related topics by popular request that I just described. Now let's take a question posted by one of our members on the Land Academy Discord online community. If you want a sneak peek at that, at our Land Academy Discord channel, please go to landacademy.com. It's free in read-only format. People love it. Jill K DeWit: Yeah. Okay. Clay wrote, "I'm looking for some advice concerning a commercial property that I've come across. The owner wants to sell and has two adjacent parcels with road frontage in East blank. Right around this area, there've been a lot of development recently. I mailed him concerning one of the properties, and he asked me if I'd be interested in both. I am, in light of their location, but I have no idea how to comp what the commercial property will be worth. Does anyone have any insight, tips, or suggestions on how to effectively do this? It may not be any different. This is just the first possible commercial deal I've come across." Steven Jack Butala: This is a regular Tuesday for Jill. Jill K DeWit: Yeah. Exactly. I love this. Okay. The first thing I would do, I look at both. I'm still going to go look at active numbers, just ignoring the type of property it is, in a site like Zillow or Realtor, something just for land in that area. I'm going to try to zero in based on the size. I don't think Clay mentioned the size here. Let's just say there are two properties. It's four acres. So I'm going to look at the two- to five-acre properties active for sale, and then what's sold in the last, sometimes six months, sometimes last 12 months, just to get a gauge. Now, I know it's commercial. I needed to take it a step further. I'm going to go to LoopNet.

If you're hesitant to kick-start your real estate journey, this episode with Agostino Pintus will guide you. Stay tuned to learn how he stepped away from the corporate ladder, immersed himself in the industry, and created the secret sauce for his multifamily investing success!WHAT YOU'LL LEARN FROM THIS EPISODE The reality of having a job in corporate AmericaUrgent advice for those who want to invest in real estateHow crucial is it to work with a capable team?Next-level systems to accelerate your real estate successWhy hard work should be part of an investor's arsenalRESOURCES/LINKS MENTIONEDOn the Shortness of Life by Lucius Annaeus Seneca | Paperback: https://amzn.to/3JZwmc2 and Kindle: https://amzn.to/3xcgNFYCoStar: https://www.costar.com/LoopNet: https://www.loopnet.com/ ABOUT AGOSTINO PINTUSAgostino Pintus is a real estate investor, developer, entrepreneur, and the founder and CEO of Bulletproof Cashflow, where he applies nearly two decades of experience to source, negotiate, and acquire commercial properties. He is a sought-after speaker for international real estate events, MeetUps, and media engagements. Agostino oversees strategic partnerships, capital development, and platform development for Realty Dynamics Equity Partners, an investment firm focusing in asset acquisition and asset management services for commercial properties. He is the host of the Bulletproof Cashflow Podcast, a show covering topics on how to build success as a real estate investor. He invites experts to teach and talk about their real-life experiences as investors, marketers, and capital raisers.CONNECT WITH AGOSTINO Website: Agostino Pintus https://agostinopintus.com/ | Bulletproof Cashflow https://bulletproofcashflow.com/ | Realty Dynamics Equity Partners https://rdyne.com/ Podcast: Bulletproof Cashflow https://podcasts.apple.com/us/podcast/bulletproof-cashflow-multifamily-apartment-investing/id1438321254CONNECT WITH USWant a list of top-rated real estate conferences, virtual meetups, and mastermind groups? Send Tate an email at tate@glequitygroup.com to learn more about real estate using a relational approach.Looking for ways to make passive income? Greenlight Equity Group can help you invest in multifamily properties and create consistent cash flow without being a landlord. Book a consultation call and download Tate's free ebook, "F.I.R.E.-Financial Independence Retire Early via Apartment Investing," at www.investwithgreenlight.com to start your wealth-building journey today!

How can you own 600 units in just 2 deals? This is the power of real estate syndication! In this situation you don't own them 100%, but it's a fractional stake in the properties. However, there is a lot of power in the economies of scale and the way the syndication is set-up and run. Meet Jim Lee, who was born and raised in Taiwan and came to the United States at the age of 11. He graduated with a degree in Economics from UCLA in 2010 and began working as a sales rep with LoopNet & Costar, which exposed him to commercial properties. During the COVID lockdown is when he began to explore ways to scale his real estate investment business more quickly and discovered syndications. He formed Formosa Investing and acquired 600 units in Florida, along with other general partners on the deal. Jim shares why syndications are such a powerful asset to investing in and how you can get started in your journey today.FOLLOW JIM

Don't miss today's episode with Philippe Schulligen as he shares expert tips to unlock effective vehicles that'll help launch and scale your real estate business successfully. You'll also learn diverse passive investment opportunities for financial security when you listen until the end of this podcast!WHAT YOU'LL LEARN FROM THIS EPISODE The perks of joining a real estate mentorshipInvesting as a limited partner vs. general partnerPractical tips on finding and closing your first dealEssential things you should consider when buying older propertiesWhat is the "Boost Wealth Fund" all about?RESOURCES/LINKS MENTIONEDBiggerPockets: https://www.biggerpockets.com/Deal Maker Live: https://dealmakerliveevent.com/LoopNet: https://www.loopnet.com/Boost Wealth Fund: https://www.boostmycapital.com/fundABOUT PHILIPPE SCHULLIGENPhilippe is a co-founder of Boost Capital Group, an active investor in 2,400 units, owns a $180 million portfolio, and contributed to raising $29 million from investors. He also has first-hand experience in commercial multifamily real estate, identifying, acquiring through syndication, capital raising, operating, and divesting. Today, Philippe mentors new multifamily entrepreneurs and advises investors and other syndicators.CONNECT WITH PHILIPPEWebsite: Boost Capital Group https://www.boostmycapital.com/LinkedIn: Philippe Schulligen https://www.linkedin.com/in/philippe-schulligen555/Email: philippe@boostmycapital.comCONNECT WITH USWant a list of top-rated real estate conferences, virtual meetups, and mastermind groups? Send Tate an email at tate@glequitygroup.com to learn more about real estate using a relational approach.Looking for ways to make passive income? Greenlight Equity Group can help you invest in multifamily properties and create consistent cash flow without being a landlord. Book a consultation call and download Tate's free ebook, "F.I.R.E.-Financial Independence Retire Early via Apartment Investing," at www.investwithgreenlight.com to start your wealth-building journey today!

Today, we are joined by Steven Nguyen to talk about using direct mail. In five years he has scaled from zero to 90 units. While working a full-time job as a pharmacy director, and he's done it completely without partners and on his own.   [00:01 - 10:11] How to Scale a Direct Mail Campaign Stephen has been working as a pharmacy director for 10 years and has recently started scaling into real estate His strategy for scaling is to buy properties in areas where the rents are low and then value add them How Steven spends $3,000 a month on 300 handwritten letters to target mom and pop owners with deals underpriced by going direct to owner   [10:12 - 20:24] How Real Estate Investor Uses Outsourcing to Manage Large Portfolio He emphasizes the importance of delegating and trusting others, and views time as a precious commodity He shares that one of his goals is to scale his real estate portfolio to 300 units or more He uses Prop Stream to find a list of qualified candidates, and then sends personalized letters to those candidates   [20:25 - 19:37] Starting Multifamily Course He shares how he created a course called Making Multifamily Money He teaches people how to acquire multifamily properties using his Making Multifamily Money course Steven emphasizes the importance of asking questions during negotiations and stresses the importance of trust   [19:38 - 20:36] Closing Segment Reach out to Steven!  Links Below Final Words     Tweetable Quotes   “The more cash you get, the more you force the appreciation. So it's more in your control” - Steven Nguyen   “You have to be able to delegate and leverage other people and have trust in people.” - Steven Nguyen   -----------------------------------------------------------------------------   Connect with Steven! Follow Steven Nguyen on Instagram. Youtube: https://www.youtube.com/@stevendnguyen. Tiktok: https://www.tiktok.com/@makingmultifamilymoney   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 → sam@brickeninvestmentgroup.com     Want to read the full show notes of the episode? Check it out below:   [00:00:00] Steven Nguyen: Typically I send about 300 letters a month. I have about 3% response rate. So about maybe nine to 10 people will call me and add that 10, maybe one to two might be serious. So it's really a numbers game. And then on top of that it compounds cause sometimes people will call me to this day for letters I sent out almost a year and a half ago. Cause they throw it in a dresser and all of a sudden they find it. So, you know, because of that. You know, I shared my journey about direct mail campaigns and it almost came to the point where people were asking me, Hey, Steven, can you just do it for. So now I kind of do offer that service where I will do a direct mail campaign for people, and all they have to do is just pick up their phone. [00:00:50] Sam Wilson: Stephen Nguyen has scaled from zero to 90 units in five. While working a full-time job as a pharmacy director, and he's done it completely without partners and on his own. Steven, welcome to the show.  [00:01:02] Steven Nguyen: Hey Sam. Happy to be on and to share my journey. [00:01:05] Sam Wilson: Absolutely. Steven, I'm looking forward to this. There are three questions I ask every guest who comes in the show, and 90 seconds or less, can you tell me where did you start? Where are you now, and how did you get there?  [00:01:13] Steven Nguyen: So apparently I've been working full-time as a pharmacy director for about 10 years. When I graduated, I made two 50,000. I had two $50,000 of student debt. So out the gate I decided, wow, I'm two $50,000 in debt. Grinded for four or five years to pay off that student loan, which was humongous. But after I paid that off, I said, well, what's next? Right? I just paid off this massive student debt. So the natural progression was to start a single Family Oaks. So that's exactly what I did. I recently caught house hacking, so I bought a house with 10%. Lived in the master bedroom and I rented out the three other bedrooms that were vacant. So that was $3,000 a month. And from there, that covered my mortgage. So I just had to cover my property tax, insurance and utilities. So I was living for $1,500 a month in California, which is pretty good, uh, especially in like San Francisco area. And my goal was to do this one single family home a year for 10 years. And after year three, I quickly realized that this was not sustainable. In California, you don't cash. It's purely appreciation. You're lucky to break even despite self-managing. So once again, that was another sticking point. How do I scale from here and make more cash flow? That's when I learned about, uh, apartment complexes and started direct mentally campaign. So I sent out a bunch of letters to Oklahoma City, about 1800 letters, 300 a month for six months. From that direct mail campaign, I got my two first apartment complexes. I got a 26 unit in Oklahoma City and a 20 unit in Oklahoma within about six months of sending these letters out, and it just completely blew my mind. The moment I learned that apartments were based on the NOI divide by the market cap rate. Versus single family, it's based on the sales. Comparable, right? Or single family. It doesn't matter how much rent you get, you can get one single family. You can get 10,000. The one next door can get 5,000. They're both the same. But apartment complexes, the more income you have, you forced the appreciation, right? So you have cash flow, air appreciation. And once I learned that I, my mind was blown. I just said, you know what? I need to go to the apartments. And what was crazy was in Oklahoma, The apartment was $5,000 for my 26 unit and 350,000 for my 20 unit, and that's cheaper than a condo in California. Like literally a condo in California costs more of that. My single family homes were close to a million each, and I just said, wow. I gain more cash flow, it's cheaper, and after I do my value add strategy, I can double or triple the value by doubling or tripling the ribbon. So that's when I started to scale massively during Covid. So that started during 2021 when it was a hot real estate market. But because I did a direct billing campaign, I was able to get these deals off market and work as a directive owner and negotiate. And then from there it led me down the rabbit hole mobile home parks, where I basically started sending letters out to mobile home park owners and, and same thing, I was able to get a 200 lot mobile home park in Alabama. About 40, uh, lots occupied, 160 lots, uh, vacant. And you know, same thing I got for a million dollars or 1.1 and I was able to negotiate seller financing cuz the owner owned it free and clear. And I was able to build that trust and leverage my skills as a pharmacist. So I know that's pretty fast there, but that's kind of how I, I scaled from zero to 90 units in, in five years, starting off in single family home. And honestly in the past year and a. Um, that's when I bought, you know, my two apartment complexes and a mobile home part. So all my success was pretty recent, I'd say.  [00:04:44] Sam Wilson: That's awesome growth though. I mean, in a very short period of time. And especially being able to do it on your own, you know, without partners, that's that. There's a lot of moving pieces there. Direct mail gets a bad rap. Yeah. You know, it takes a lot of time to manage it. It takes a lot of money to send out the mail. Tell me about, I mean, just how you built the list. I mean, that in of itself is a bit of a feat in going, okay, how do we narrow this down into the most qualified candidates for whatever it is you're trying to acquire? Talk to us about the process.  [00:05:17] Steven Nguyen: Yeah, so for my direct mailing list, I use Prop Stream and there's a lot of, uh, multifamily criteria that you can use. Mm-hmm. You know, kind of off the top of my head, you can click on like commercial real estate multifamily, a hundred plus units, multifamily, five plus units, Garda style apartment. There's about 10 criteria points that I use, but the key is you want to find a sample listing on LoopNet and then put it into Prop Stream and see how they classify. Because sometimes each county and each state classifies it differently. And you know, I will say it's kind of an art, like no matter what list you get, there'll always be some inaccuracies. Like even when I sent my letters out, sometimes you have owners calling you duplexes, triplexes, fourplexes, as well as retail strip centers. That's just the nature of the beast. But you know, that's what my first step was the criteria but what kinda led me to my most success is making a very personalized letter. So my strategy's a bit different. I don't use a postcard. I actually send two envelopes, it's invitation size. So it's almost like a thank you card from a friend or family member. Right? And you know the name address is handwritten on the backside. Um, I put my address, and that's where I use my title. So I'm technically a doctor. I used Dr. Steven Dwin. You know, pharmacists are doctors. Not many people know that, right? Um, and then from there they opened up my letter. And in my letter I just kind of talk about myself. I don't come off as a big syndicator, a big corporation. I just said, Hey, I'm Steven, I'm a pharmacist. Been working for 10 years. I own X amount of real estate units and I'm just looking to buy some more real estate so I can provide for my family in the future. You know, just come a very casual, very low key, very humble, right? You know, I have this humbleness by scaling a 90 unit. I try to stay humble. Um, you know, my girlfriend helps me with that they always do. And. From there, you know, basically I just write, Hey, you know, I wanna buy, make an offer for your partner complex. I make it easy, simple, you know, the typical letters that come out there. Oh, and then, but the difference, what I do is I have, you know, hand write my name and signature and I write a call to action and written. So I'll write, Hey Sam, call me. This is my phone number. So, you know, this is kinda the strategy that I've honed by doing multiple direct mailing campaign. And typically I send about 300 letters a month. I have about 3% response rate. So about maybe nine to 10 people will call me and add that 10, maybe one to two might be serious. So it's really a numbers game. And then on top of that it compounds cuz sometimes people will call me to this day for letters I send out almost a year and a half ago. Wow. Cause they throw it in a dresser and all of a sudden they find it. So, you know, because. You know, I shared my journey about direct mail campaign and it almost came to the point where people were asking me, Hey Steven, can you just do it for me? So now I kind of do offer that service where I will do a direct mail campaign for people, and all they have to do is just pick up their phone. Respond to their texts, respond to an email. Cuz I know a lot of people are busy. Yeah, they have kids, families, elderly parents to take care of. But for me, I don't have that yet. So I'm just trying to help people out and get their first deal. Cause some of the deals that I bought were just insanely underpriced, by going direct to owner for sure.  [00:08:38] Sam Wilson: What is the process of handwriting each of those, I mean, that's a mind numbing process to write 300 handwritten letters especially if you're doing it for other people, how do you scale that?  [00:08:54] Steven Nguyen: So I actually tried my first myself. It took me eight hours to prepare 300 letters, but I actually outsourced my letters to a company, called Yell Letters Complete. Okay. And they will actually do the handwritten handwriting for you. So they'll hand write the address, they'll hand sign my name, and then they'll also hand write that call to action and also prepare the. Um, and the way I tell them to do it. So because of that, I'm able to kind of leverage a direct mailing campaign and then free myself at a time. Right? So, you know, it, it's, people can use that company as well, but even on top of that, some people feel it's overwhelming to like, send a list from Prop Stream as well as your letter template for them. Despite me teaching it, that's why people start reaching out to me, despite me, like basically telling people A through Z how to do a direct mailing campaign. They just still, it sounds very intimidating and it has a bad rap. As you mentioned, most people like to text an email. That's kinda the modern day. Yep. But because of that, direct mail is more effective, especially if you're trying to target a more, you know, mom and pop owner, which I do. Right. So it's highly effective for mom and pop owners. You know, I spent about $3,000 for my direct mailing. 1800 letters and that made me $300,000 equity day one, just my two apartment complexes. Wow. To be honest, that's a hundred x return on my money. Anyone will take that.  [00:10:08] Sam Wilson: I like those return profiles. That's not bad. So tell me, you spent $3,000 a month. that was 300 letters a month times six months. Yeah. And so then, so then you're basically at, what is that, a buck 50, A buck 75 a letter, roughly?  [00:10:27] Steven Nguyen: Yeah, it's about a dollar 50 a letter and prop is about a hundred bucks a month. So you know it's about 500 bucks a month, uh, to do your direct mailing campaign. And like I said, yeah.  [00:10:38] Sam Wilson: For a very targeted list. I mean, you know, I go back to, I mean, all the, all the, all the stuff I get in the mail, you know, for our house here, it's like right where I live, like, Hey, I'll buy your house. I'll buy, which, you know, there was a time in my real estate career when I did that too, and most of it's just the same thing over and over and over. I'm like, there is no differentiator between the one letter. You put it in the letter and you put it in an envelope, but it's still some, you know, pre-print. You know, we buy houses and then there's postcards. That's just all that stuff. Of course for me, I'm not looking to sell my house, but so I just throw it away. Mm-hmm. But I mean, I think that's why direct mail gets a bad rap, cuz it's all washrooms repeat the same product coming to the potential seller. And you found a unique way, unique way to scale that. How did you build, I know you said you used Prop Stream to build the list. What gave you, what gave you the idea? You know, pivoting and going after mobile home parks, especially, I mean, there's, it, it's a big country. How did Alabama and say, you know what, I'm gonna put this one in Alabama, one of my 300 potentials on the list.  [00:11:46] Steven Nguyen: Yeah. You know, for me, I was really focusing on the southeast, you know, kind of like more cash flow markets cuz I own single family homes in California. But I just wanted more cash flow. If you buy up apartments, the more cash you get, the more you force the appreciation. So it's more in your control. Like Oklahoma, if you buy a single family home, that thing only goes up 3% a year. At best. It's a steady Eddie market at best, but if I can, yeah, at best. Right. But, so I call it an unsexy market, but because of that, it's less competition. So I focus on small apartment complexes between five to 50 units and it's usually a mom and pop owner. And like I said, if I can get an apartment, my, my 26 unit, I got for half a million dollars. I negotiate $60,000 of seller repair credit during the hottest real estate market, and they appraise at seven 50,000 a day one. So that's $300,000 right there by me sending out a letter. And on top of that, the owner hasn't raised rents in five years, so I'm renovating all the units, eight to $10,000 per unit. New kitchen, new flooring, new paint, everything brand new, and I can effectively double the rent from. Three 50 to 700 and I've done that already. So my unit, so now my NOI has increased significantly. I think it'll be worth around 1.3 to 1.5 million due cash out re. At that point, you know, you pull all your down payment, all your renovation costs, plus extra money, and then you can buy another apartment complex. Right? So to me, that's why I started targeting that market. But what kind of led me to mobile home parks, honestly, like any real estate investor has shiny object syndrome. Um, you know, honestly, I am actually listing it for sale ironically. But for me, what I really liked about mobile home parks is it's affordable housing. Yeah. Like in my mind I just said, where could I. 50 acres of land, 200 lot mobile home park for $1.1 million. That's $6,000 per lot. It costs 20 to $30,000 just to build one lot in a mobile hom park. So if I, so I bought it, I knew I was buying it, right, and I was the type to, I kinda jump out the airplane first and figure my parachute on the way down. So I kinda did the same with my mobile home park where I started consuming a lot of podcasts. But I just kind of knew that like at some high level numbers, It was around maybe 30 units or 30 units occupied when I got it. If you can get, and I got for a million dollars, if you get to half, so that's a hundred unit lots filled, it's gonna be worth about 6 million. If it's all filled at 200, that's gonna be worth closer to 10 million. Wow. So I just said, I think I just need to get this park to a certain level, so I got to around 40-50. At that point, I think I can sell it for double. So now I'm engaging, you know, larger operators who can actually infill 160 lots and have a team infrastructure to do it. For me, I feel like I brought it as far as I could as just a single operator, and I just realized my limitation that in order to bring in like three to five homes per month and sell it or rent it out, you need boots on the ground. Like you need to be there with a. I think I just don't have the infrastructure, but maybe large syndicators do. Cause they usually have like regional managers and build teams that are built out. So they have the economies of skill and I feel like I don't have that currently. So, you know, for the right price, I'm willing to sell and then hopefully take that and scale my apartment portfolio of Oklahoma City. Cuz I have a really strong property manager, Oklahoma City. That's why I chose Oklahoma City and I know that I can easily scale. 200, 300 units easily and not even be stressed and still work full time. Right. Versus my mobile home park is taking about 80% of my time and energy and money right now, to be honest. So it was just kind of a lesson I learned, but I don't regret it. I mean, I learned quite a bit and in the future when I wanna do mobile home parks again, I know how to do it successfully.  [00:15:32] Sam Wilson: Right. That's really cool, Steven. I love that. And I love, I love the use of direct mail you've given, really the secret sauce. Thanks for breaking that down here. Yeah. On, on the show today. Talk to me. You have 40 pharmacists, you know, that work for you currently. I think at the hospital it's a lot of people to manage and, and like you said earlier, you know, time is your most precious asset and you're kind of, that's, it's not something you. You can't create more of it. Yes. Talk to me about outsourcing and leveraging and how you've effectively done that with your portfolio. [00:16:06] Steven Nguyen: Yeah. So, and as you alluded to, I manage about 40 pharmacists and, you know, pharmacists were very detail oriented and, and borderline oc d. That just comes with the profession. And a lot of people have a hard time delegating, but to me, you know, when you're running such a large hospital operation and running a large real estate portfolio, which translate, you have to be to delegate and leverage other people and have trust in people. If they can do something 70 to 80% as good as you, it's time to delegate it out. Right? And you gotta view your time on a per hour basis, right? Is it worth my time to do a letter, which costs me a dollar 52? You know, per letter, and it takes me eight hours to do it. I'm actually better off working at a pharmacy chef, for example, and I'll make more money and it'll cover that direct mailing campaign. But, you know, for me, um, the first person was finding my who, so they said, why do I choose Oklahoma City? The only reason I say is because I had a strong property manager there. Plain and simple. Nine outta 10 property managers are terrible, unfortunately, and it takes about three to six. to determine if they're good or not. You know, I have a very extensive interview process, and despite that, it's hit or miss. Mm-hmm. , it's almost like the NFL draft in the first round. It's, it's hit or miss. Right. And. So because of that, I, I built a system where I have multiple, I, I have my main property manager. I have two backups in case my first one does not perform, and I just go down my list, right? First one doesn't perform, I engage my second one, second one doesn't perform. I engage my third one. And you just go down. It's the same thing in the workforce, right? Like if you hire someone, they don't perform, what are you gonna do? You're, you're gonna give them warnings and then eventually bringing someone to replace them, right? Slowly, right? So it's the same, it's very translatable from a W2 to pharmacy. Then also, so number one, my property manager, right? So they take care of my renovation for me as well. So they typically serve as my property manager and my general contractor. If they don't do both, they can usually refer you to a general contractor that they use, right? So at that point, you're using your referrals, and then you do interview them to see if they fit your vision. So from there, if they do that, then you know, you try 'em out. But like you said, unfortunately, you don't know until you use them. Like everyone talks a great. When you're trying to give 'em a job or give them money, right? Whether that's property manager or con. So you just use it and then you test them and say, Hey, you know, I know I'm a small fish. I only own 26 units and you're gonna renovate it. But if you help me successfully renovate this and raise the income, I'm gonna buy more. And guess who's gonna manage the next one? Right? It's gonna be you and now I'll own two. After the same thing, raise the rents, cash out, refi. Now I own four. You know, so that's how you get that slow, slow compounding. So you just make it known that you wanna scale alongside with them. And also, you know, just be easy to work with. Like, this is a skill that I learned, you know, a lot of investors and business owners, unfortunately not easy to work with, but I try to be the easiest person to work with so that when they have a another owner that wants to sell, who do you think they bring the deal to? First, it's always, because they love working with me. I, I always say, well, what would you do? Like, how would you renovate this unit? You tell me, I'm, I'm in California, you're in Oklahoma City. You tell me how to renovate my apartment so that I can spend the least, like get the most rent while still looking very nice and very practical. Right. Right. So it's just, and then people feel appreciated when you do that for them. Cause a lot of people will come in and say, Hey, I want, you know, whatever, laminate flooring, granite countertops, but that might work in California, but Oklahoma, they don't, they don't need it. Right. Right. So, I, I. Trust and leverage your skills and experience and, and just know they may mess up. But as long as you learn and pivot for the next time, that's all that matters. So I, I just always kind of had that mindset where, you know, I'm able to leverage and, and same thing like with my direct mailing campaign, you know, I outsource that all. The only thing I have to do is pull up the data from Prop Stream, you know, send it over to the company that does it for me. I already have a copy and paste template that they have, and they've done something in my letters. They know exactly what I'm. So at that point, you know, it's pretty automated and if I wanna take it to the next level, I can hire a virtual assistant and, and they can do it for me too. But, you know, I'm not, not quite there yet, So, uh, but there's just ways to outsource yourself outta the job. Cause at the end of the day, you know, I buy a real estate to have time freedom and options, but if I'm bogged down with this like massive real estate portfolio that I'm managing myself, that that sounds miserable to me. For sure. For sure. So that's why like to outsource. [00:20:24] Sam Wilson: Yeah. I love where you said that.There's a great book on who, not how, which is, you know, that's music to my ears certainly. And I think I also like that the point there when you say, what would you do? Right? It's, I think that's really cool because putting, letting them do the thinking for you, and also probably they're gonna tell you things that you wouldn't have thought through. It's not that you're lazy, but it's, it's, it's just like, Hey, what would you do? How, how, how would you solve this problem? As opposed to you being the one that always have to think it through. Use your mental, your cognitive bandwidth, which is limited across this many properties, running a pharmacy, running the hospital, or the director of a pharmacy to the hospital. You've got a lot of things to think about. Let other people use their expertise and tell you what they do. I think that's really awesome. Last, uh, last question for you. One of the things that you have built in this process, Is a, what did you call it? I think we talked about this before we kicked the show off. Not your direct mail service, but you built a course, I think, around acquiring multifamily properties. [00:21:21] Steven Nguyen: Yeah, yeah. No thanks for that. So I created, it's called Making Multifamily Money. It's basically a course that has 120 modules and it basically just shares my journey and my experience about how I closed on an apartment complex from A through Z. Like I said, I literally did everything by myself from A through Z, right? So I created, I chose my market. I chose my property manager, I chose my direct mailing campaign. I chose my criteria for that. I create a system and a process, uh, to basically acquire off market apartment complexes that typically you negotiate directly with the owner. So I teach everything from A through Z, like how to pick a general contract, how to pick your insurance, how to manage a property manager, how to select your property manager. It's literally a through Z system. Just sharing my experiences and I felt I made a lot of mistakes throughout the past, like two, three years. Like, I'll be honest, I, I've. A hundred thousand dollars mistakes. But I hope to kind of condense that into a quick course for people to kinda learn and, and not make the same mistakes for me. Right. Because like me, I wish I had that opportunity where I could have paid money to basically learn and not make these hundred thousand dollars mistakes. Right. So, you know, that was kind of my intent and. It was funny, it just kind of started as me wanting to create it, uh, to provide to like my, my future kids one day. But whenever that happens I just say, Hey, you know what, let me just try to bring it out there and see if other people wanna learn. Cause like you said, some people just wanna know it's possible to scale large real estate portfolio that's 90 units plus while working full time. You know, most of the people in my position, you know, they're typically syndicators. That's their full time job. And so I just wanna kind share my story and, and kind of create that into educational content. You know, it's come, comes very natural for me. You know, I work at an academic hospital, so we teach a lot of pharmacy students, so it just came very organic to me. And I just kind of want to do that as well. And I kind of take the educational approach when, you know, talking with owners, honestly, like a lot of. You know, we start negotiating about price, it gets very tense. Sure. I'll just say like, Hey, can you educate me? You know, I'm here in California, you're the person that lives in Oklahoma City, like, what's a good price for this apartment complex? I literally ask that question like, what's a good price? And a lot of 'em are pretty surprised. A lot of 'em will just say, Hey, you make me an offer. Or they'll, or sometimes they'll gimme a price and one guy came and said, Hey, I want the task says, For the property. And I know out the gate if the tax and price is under market value. Right. Already Inly. Yeah. Yeah. So , so it's just asking that question. It builds that trust, but also it helps you learn because sometimes if I came at like, Hey, I wanna give you 600,000, but maybe they're okay with half a million, right? By me just asking the question, I saved a hundred thousand dollars. Like right now.Valuable questions, Yeah. That's the value questions. Right? And you know, like for me, I'm not, you know, I know what to do. So it's really the power of questions. That's funny. I can write a book about that [00:24:17] Sam Wilson: There you go, Steven. We'll look for that here in the next year after you get done, uh, you know, selling off your mobile home parks and everything else, the power of questions. Here's your, here's your title. You got your next project right there in front of you. Steven, thank you for taking the time to come on the show today. This was a blast learning about everything that you've done. Uh, I won't rehash it all here, but it's pretty cool. So I'm just glad to have you on the show today. Thanks for being so direct and. With us about your processes and just kind of how you do it. So that's been, that's been really refreshing and, and nice to hear. If our listeners wanna get in touch with you, learn more about your course and or your direct mail service, what is the best way to do that?  [00:24:53] Steven Nguyen: Yeah, so you can reach out to me at Steven Nguyen on YouTube and at making multifamily money on TikTok and Instagram. And once you find my social media, it has a link to my course. Um, it's published on Teachable and it's. Making multifamily money. And from there you can have access to my course, you can have access to my, uh, direct mailing campaign service. So there's three plans. There's bronze, silver, and gold. The bronze is just the course, the silver. I'll do six months of letters for you and the gold is I'll do 12 months letters for you. Cool. If it typically takes about six to 12 months to have that success, right. Of the direct mailing campaign.  [00:25:31] Sam Wilson: Yep. Absolutely. Steven, thank you so much. I certainly appreciate it. Have a great rest of your day. [00:25:37] Steven Nguyen: You too, Sam. Happy to share my journey and thank you for everything.  

We're excited to welcome back Jeff Rappaport on today's show to tell us what it takes to become a successful investor during shifting markets. Join us to learn how the housing market has changed, plus strategies to master your business using real-world examples.WHAT YOU'LL LEARN FROM THIS EPISODE Reasons to invest in commercial real estate during a recessionWhat is a transition period, and how does it impact the housing market?Economic factors that affect rent pricesCreative financing: Definition, benefits, and examplesTips to keep your business thriving during volatile marketsWhy interest rates could keep increasingRESOURCES/LINKS MENTIONEDEpisode 011: 5 Ways to Get Started in Apartment Investing with Jeff Rappaport https://podcasts.apple.com/us/podcast/episode-011-5-ways-to-get-started-in-apartment-investing/id1500967265?i=1000476808133Crexi https://www.crexi.com/LoopNet https://www.loopnet.com/ABOUT JEFF RAPPAPORTJeff is the owner of We Offer Options, Inc., a family-owned business committed to providing solutions to homeowners through buying and selling real estate properties. His primary investing roots are in Sandy, Utah, but he also focuses on other areas across the country where he currently does fix and flips, wholesale deals, and purchases income-producing properties.CONNECT WITH JEFFPodcast: The Creative Financing Podcast https://podcasts.apple.com/us/podcast/the-creative-financing-podcast/id1380904648Email: jeff@weofferoptions.comCONNECT WITH USTo book an exclusive FREE consulting session with Tate or to view his current investment offerings, please go to www.investwithgreenlight.com.Want a list of top-rated real estate conferences, virtual meetups, and mastermind groups? Send Tate an email at tate@glequitygroup.com to learn more about real estate using a relational approach.Special Announcement! Tate's brand-new audiobook "F.I.R.E.-Financial Independence Retire Early Through Apartment Investing" is downloadable! Go to: Green Light Equity Group: http://www.investwithgreenlight.com/.Do you have difficulty underwriting deals? Never worry about getting your numbers wrong with Real Estate Lab, a cloud-based platform for investors. Sign up at https://www.realestatelab.com/ using the promo code TAG2 to get 10% off your first 12 months. Automate your acquisitions and underwriting like a boss now!

Today's Flash Back Friday Episode is from Episode #124, which originally aired on September 20, 2016. In this week's show we'll be speaking with commercial real estate investor, Ash Patel. Ash is quite the visionary as he commonly takes vacant and/or commercial properties and repositions them into highly valuable investments. And the best part, Ash did most of this all while working a full-time IT job. He has since gone full-time as a Real estate Investor, but you could say that he built a very successful real estate investment business in his part-time. I'm positive that you'll find our show with Ash both inspiring and motivational…I know I did. Here's what you'll learn in todays show. How Ash made the transition from being a full-time IT consultant to a full-time real estate investor. Why he prefers commercial investments to residential? The reasons why he was forced him to remain vacant for more than 6 months in one of his multifamily properties and the lessons he learned from this experience. Why he feels local bank relationships are paramount in this business, especially when it comes to smaller scale commercial projects. The opportunity he saw in a vacant single use tenant building that had an abnormally small amount of parking and turn it into a highly desirable asset. How he's been able to find all of his recent deals without having to do any direct marketing strategies like direct mail or cold calling. How he's been able to hedge his risk from another potential real estate down cycle by negotiating longer terms with his banks and also selling off any of his higher priced assets. Why he feels that there are a ton of opportunities that exist on the local MLS, not Loopnet or CoStar, but the local MLS. The reasons he wishes he would have sought out a mentor in the very beginning to help offset his learning curve and how he would have gone about finding this mentor. Learn About Investment and Partnership Opportunities with Kevin and His Team  Recommended Resources:  Check out our company and our investment opportunity by visiting www.SunriseCapitalInvestors.com Self Directed IRA Investment Opportunity – Click Here To Learn More About How You Can Invest With Us Through Your SDIRA Accredited Investors Click Here to learn more about partnering with me and my team on Mobile Home Park deals! Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them MobileHomeParkAcademy.com Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2