Podcast appearances and mentions of Tom Schneider

American poker player

  • 65PODCASTS
  • 151EPISODES
  • 52mAVG DURATION
  • 1MONTHLY NEW EPISODE
  • Apr 11, 2025LATEST
Tom Schneider

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Best podcasts about Tom Schneider

Latest podcast episodes about Tom Schneider

This Is Hot Bowga
Predator Smackdown w/ Tom Schneider

This Is Hot Bowga

Play Episode Listen Later Apr 11, 2025 59:18


Welcome back to The Fair Chase podcast! This week, we're pumped to chat with Tom Schneider from Stuck N The Rut, hailing from Idaho's wilds. Tom's part of a hunting family that's been killing it, literally, for decades, and their YouTube channel's stacked with over 300 videos of raw, DIY public land hunts. From awesome elk chases to grizzly showdowns, they've built a huge following by keeping it real.   In this episode, Tom covers how Stuck N The Rut went from local legends to YouTube heavyweights, all while dodging trail cam stalkers. We dig into the messy truth of predator management; wolves wiping out drainages, grizzly cover-ups, and why hunting claws and fangs is key to keeping ecosystems legit.   We also cover:  - How wolves turned thriving moose zones into ghost towns in just two years  - The insane grind of filming and editing hunts (half-hour sheep vids, anyone?)  - Why locals don't buy the “official” story on grizzlies and wolves  - Turning logged land into a deer and elk paradise with smart predator control   Follow us here: https://www.instagram.com/thefairchase/ https://www.facebook.com/fairchaseofficial/ https://www.linkedin.com/company/thefairchase/ https://x.com/TheFairChase1    SAVE 30% on TUO Gear! Promo code: TFC30 https://bit.ly/40yj1gL  

The Big 550 KTRS
Former Florissant Mayor Tom Schneider talks County Prop B: McGraw Show 3-19-25

The Big 550 KTRS

Play Episode Listen Later Mar 19, 2025 19:13


Former Florissant Mayor Tom Schneider talks County Prop B: McGraw Show 3-19-25 by

Der Industrie Podcast des VDMA
Aus Daten wird Umsatz - die Tokenisierung des Maschinenbaus

Der Industrie Podcast des VDMA

Play Episode Listen Later Mar 6, 2025 31:43


Die mittelständische Industrie in Europa sitzt auf einem gut gehüteten Schatz, den sie jetzt erst so richtig zu heben beginnt: unendlich viele Daten, die in ihren Maschinen und Anlagen täglich entstehen. Maschinen optimal nutzen, indem Hersteller und Kunden sie gemeinsam betreiben - das ist eine von vielen neuen Geschäftsmöglichkeiten, die durch Digitalisierung möglich werden. Die Zeit ist reif, um mit Datenräumen die Produktivität im Maschinenbau zu steigern. Wie dies gelingen kann, beschreiben Dr. Tom Schneider, Managing Director Research & Development des Werkzeugmaschinenherstellers Trumpf, sowie Christoph Herr, Industrial Evangelist Manufacturing-X des VDMA. "Wir müssen mit unserer Erfahrung und mit modernen Technologien Datenräume schaffen, um künftig unsere Innovationen zu bauen", sagt Dr. Schneider. Dann brauche Europas Industrie auch nicht in Ehrfurcht vor den großen Datenverarbeitungskonzernen (Hyperscaler) und deren Ankündigungen zu erstarren. Produktion: New Media Art Pictures

Circularity.fm
TRUMPF - Be more Efficient with Equipment-as-a-Service

Circularity.fm

Play Episode Listen Later Dec 3, 2024 54:07 Transcription Available


How can customers and operators benefit from Product-as-a-Service? By creating efficiency gains that both parties share. With its Pay-Per-Part model, TRUMPF developed a concept that forced the OEM to rethink major elements of its offering. In doing so, overall machine efficiency increased to a degree that customers and TRUMPF benefitted from. In this episode, Tom Schneider, Benedikt Braig, and Jörg-Andre Junker provide insights into efficiency gains and their requirements. This episode is the 15th in the series PaaS Decoded, 16 conversations about the fine details of product-as-a-service.

Cutting The Distance with Remi Warren
Ep. 109: Backcountry Mule Deer Hunting with Tom Schneider

Cutting The Distance with Remi Warren

Play Episode Listen Later Oct 31, 2024 78:11 Transcription Available


Finding mature mule deer can be a huge challenge to say the least. This week Dirk picks mule deer hunting expert Tom Schneider from "Stuck N The Rut" on finding and hunting big mule deer. Check out Tom's Mule Deer Masterclass here: https://www.stuckntherutmuledeermasterclass.com/md Connect with Jason, Dirk, and Phelps Game Calls MeatEater on Instagram, Facebook, Twitter, Youtube, and Youtube Clips Subscribe to The MeatEater Podcast Network on YouTube Shop Phelps MerchSee omnystudio.com/listener for privacy information.

Trader Merlin
Technical Analysis with Tom Schneider, CMT! 9/25/24

Trader Merlin

Play Episode Listen Later Sep 25, 2024 55:32


In today's episode, we're diving into the latest market moves and so much more: Join us today as Tom Schneider, a Certified Market Technician and the Senior Education & Training Specialist at NinjaTrader, breaks down the essentials of technical analysis.

The Mindful Hunter Podcast
EP 183 – Elk, Wolves, and Bears Oh My! with Tom Schneider from Stuck N The Rut

The Mindful Hunter Podcast

Play Episode Listen Later Jul 12, 2024 112:48


The crew over at Stuck N The Rut have one of the best hunting YouTube channels going right now. I got eh chance to sit down with Tom Schneider and have a great chat. We touched on a bunch of topics including hunting tactics, the history of North Idaho hunting and some of the courses and events that SNTR are offering now for up-and-coming hunters.   Tom Schneider https://www.instagram.com/sntrhunter/ https://www.instagram.com/stuckntherut/ https://www.stuckntherut.com/ https://www.youtube.com/channel/UCPAT7XECi55O62ZOsYxOO5A     Jay Nichol jay@mindfulhunter.com https://www.mindful-reviews.com/ https://www.mindfulhunter.com/   Forged In The Backcountry https://forgedinthebackcountry.com/   Merch https://www.mindfulhunter.com/shop   Newsletter https://www.mindfulhunter.com/contact   IG https://www.instagram.com/mindful_hunter/   Podcast https://www.mindfulhunter.com/podcast   Free Backcountry Nutrition Guide https://www.mindfulhunter.com/tools

Long Range Pursuit
EP 148: Elk Hunting Strategies with Tom Schneider | Instructor's Corner

Long Range Pursuit

Play Episode Listen Later May 22, 2024 65:14


Tom Schneider of Stuck 'n the Rut joins up with Long Range University Instructor Brian Poor. Elk hunting strategies are on the docket and there is plenty to cover. https://www.stuckntherut.com https://www.gunwerks.com/  

Eastmans' Elevated
Episode 440: Working Hard For Success With Tom Schneider

Eastmans' Elevated

Play Episode Listen Later May 16, 2024 81:10


In this episode Brian sits down with Tom Schneider from Stuck In The Rut. Tom is a blue collar hunter that carries his work ethic into everything he does. He is able to find consistent success in tough to hunt units. The guys discuss that as well as how to hunt the thick timber. They also talk about structuring their lives to get enough time to chase their dreams in the mountains. A great conversation full of good information this week on EE.

KI in der Industrie
Trumpf's Industrial AI strategy

KI in der Industrie

Play Episode Listen Later May 15, 2024 47:35 Transcription Available


Our guest is Tom Schneider, Global Head of R&D at Trumpf. He explains to Peter Seeberg what Trumpf's AI strategy looks like, which products he is developing with his team and why the machine manufacturer cannot solve everything on its own. Tom also explains existing AI based solutions by Trumpf and how he and his team build an AI Trumpf ecosystem. The Industrial AI Podcast reports weekly on the latest developments in AI and Machine Learning for the engineering, robotics, automotive, process and automation industries. The podcast features industrial users, scientists, vendors and startups in the field of Industrial AI and Machine Learning. The podcast is hosted by Peter Seeberg, Industrial AI consultant and Robert Weber, tech journalist.

Stuck N The Rut
#49- Trail Cams with Tom Schneider & Sy Kirk

Stuck N The Rut

Play Episode Listen Later Apr 25, 2024 64:06


Join Tom Schneider and Sy Kirk talking about trail cams in this episode.Our first ever live movie night in Northern Idaho is Friday April 26thYou can get your TICKETS HEREWe have a new website with hunts, apparel, and new events coming!stuckntherut.comJoin Tom at:Elk CampSheep CampWolf Camp

OPC Foundation Podcast
OPC UA and Open Source at Trumpf

OPC Foundation Podcast

Play Episode Listen Later Apr 11, 2024 35:20


Peter Seeberg talks to Tom Schneider from TRUMPF about the OPC UA for Machine Tools Companion Specification initiated and coordinated by the German Machine tools builders' association, VDW and how this relates to UMATI.

The Western Huntsman Podcast
192. Pursuing Wolves and Bear for Better Elk and Deer with Tom Schneider

The Western Huntsman Podcast

Play Episode Listen Later Apr 2, 2024 140:40


By popular demand, Tom Schneider of Stuck N The Rut makes another return on the show! Tom is one of the most talented hunters I know. He has mastered hunting wolves, mule deer, elk, and bear and the Stuck N The Rut YouTube channel shows it all! In this episode, Tom and I discuss pursuing predators and seeing it as a duty to all hunters to improve balance. Tom feels more deserving of his elk and deer success knowing that he also hunted wolves and bear. I tend to agree with this philosophy, and nobody does it better than Tom! Movie night in Coeur d'Alene, ID link Wolf Hunting Masterclass Tom on Instagram Show Sponsors! Phelps Game Calls - The game call company of The Western Huntsman! https://phelpsgamecalls.com/  -Use Promo Code “Huntsman10” for 10% off! Silencer Central - Get started with a suppressor for your next hunt by going to the website here: https://www.silencercentral.com/ They make it very easy to get licensed, purchased, and set up so you can find out why getting a suppressor from Silencer Centrals is so popular! Hoffman Boots - Best hunting boots you'll ever own. Specifically, check out the Hoffman Explorers, hands down the finest mountain boot for Western big game on the planet, I guarantee it! Use promo code “HUNTSMAN10” for 10% off! https://hoffmanboots.com/hoffman-mountain-boots Spypoint Cameras - as a trail camera junkie, I am fairly picky about my cameras. Whether setting cell-cams around the property or regular cameras in the backcountry, Spypoint has delivered! Excellent photo quality, video, functionality, and my favorite part… Easy to use! Check it out at Spypoint.com! Savage Arms - Don't skimp on your next big game rifle. Savage Arms has redefined high-performance rifles built specifically for guys and gals like us! Check out the 110 with Accu-Trigger, I promise you won't regret it. www.savagearms.com Barnes Bullets - Since 1932, Barnes Bullets has been a leader in hunting ammo. The world-famous X-Bullet was the first expanding all-copper bullet known for its exceptional knock down power and performance. I have personally been using Barnes Bullets since 1998 and wouldn't recommend them if I didn't know for sure how well they perform. Check them out at www.barnesbullets.com Eastmans Hunting Journals - What Western Hunter doesn't know Eastmans Hunting Journals?? I've been a fan and subscriber to the magazine since I was a kid, and you should too. Between the magazine, Eastmans TagHub, and the new Mule Deer eCourse, Eastmans has something for everyone and the tools every Western Hunter should have! Check it out at https://www.eastmans.com/ Hit me up at jim@thewesternhuntsman.com  

StoryRadar
Tom Schneider: Abheben im Flugzeug und auf Social Media

StoryRadar

Play Episode Listen Later Mar 14, 2024 36:11


Was haben Piloten mit Social Media gemeinsam? Das erzählt uns in dieser Folge Tom Schneider. Er ist Pilot bei Edelweiss Air und kennt sich nebenbei noch bestens mit den sozialen Medien aus. Im Gespräch mit Ferris erzählt er von seinem spannenden Berufsalltag, seiner Nebentätigkeit als Aviophobia Coach und wie er virtuell die Cockpit-Tür öffnet, um seine Liebe zum Fliegen zu teilen. Alle anschnallen, denn in dieser Folge geht es hoch hinaus! Mehr über Tom Schneider:LinkedIn Tom SchneiderInstagram Tom SchneiderSeminar Goodbye FlugangstMehr über Ferris Bühler:LinkedIn Ferris BühlerInstagram Ferris BühlerHier findest du uns:Webseite Ferris Bühler CommunicationsFacebook Ferris Bühler CommunicationsLinkedIn Ferris Bühler CommunicationsInstagram Ferris Bühler CommunicationsWebseite StoryRadarInstagram StoryRadarWir freuen uns sehr über eine positive Bewertung auf Apple Podcasts.Fragen oder Anregungen dürft ihr jederzeit an storyradar@ferrisbuehler.com senden.

Dads on Leave
Episode 4: Parental Leave S.W.A.T. Team

Dads on Leave

Play Episode Listen Later Mar 11, 2024 54:38


Hear from Tom Schneider, a CPA whose previous accounting firm expanded paternity leave to 6 weeks but had no practical implementation to support new dads. The result: one dad criticized from taking leave and another who took less than what was offered.

Elk Hunt
Tom Schneider's Secrets to Consistent Elk Success

Elk Hunt

Play Episode Listen Later Feb 2, 2024 71:46


This week, Tom joins the podcast to drop some knowledge bombs on all of you. Known for his exceptional skill in the mountains, Tom is remarkably consistent at hunting big bulls, even in some of the most challenging areas. This year, Tom spotted a promising bull during the archery season. Instead of risking scaring it away from the canyon, he strategically decided to return later with a rifle. Tom's hunting adventures spanned multiple states this year, including Idaho, Wyoming, and Colorado. Alongside his brothers, he navigated new territories and shared his experiences of tracking and hunting bulls in unfamiliar units. In this episode, Tom recounts the story of his personal bull in Idaho. We delve into the tactics he and his brothers employ for hunting big bulls, adapting their strategies to suit different areas. Tom also shares an enthralling tale about a double kicker 7x7 bull that eluded him for several seasons. His stroke of luck came from being in the right place at the right time, finally leading to a successful hunt. Tom's deep understanding of elk behavior sets him apart from most hunters. It's this knowledge that gives him a distinct advantage in the field. Note: Tom is hosting an Elk Hunting Clinic this summer, an excellent opportunity to immerse yourself in elk hunting expertise. With only 10 spots available, it's a chance not to be missed. If you're interested, email Tom at sntrhunter@gmail.com.

Stuck N The Rut
#46- Wolf Hunting and Trapping with Tom, Justin Small & Kate Small

Stuck N The Rut

Play Episode Listen Later Jan 31, 2024 63:42


Tom Schneider sits down with Justin Small and Kate Small to talk about wolf hunting and wolf trapping, and their Western Wolf Academy coming up this summerContact Kate for the academy: katesmalloutdoors@gmail.comCheck out the upcoming camps: stuckntherut.com 

Venture Mate
#23 Corporate Venture Building - mit Tom Schneider von Schenker Ventures

Venture Mate

Play Episode Listen Later Jan 26, 2024 54:07


Liebe Hörerinnen und Hörer, in dieser Episode unseres Podcasts nehmen wir euch mit in ein Gespräch mit Tom Schneider, Lead Venture Architect bei Schenker Venutres und Co-Founder von NxtLog. Wir befassen uns mit der Identifizierung von Geschäftsideen, die das Potenzial zum Erfolg haben. Es geht darum, diese Ideen nicht nur zu erkennen und zu validieren, sondern auch effektiv in die Praxis umzusetzen und sie so zu entwickeln, dass daraus ein florierendes Start-up entsteht. Der Fokus liegt also auf dem gesamten Prozess: von der ersten Ideenfindung bis hin zum Aufbau und Wachstum eines erfolgreichen Unternehmens. Viel Spaß beim zuhören und bis zur nächsten Folge!

RADCast Outdoors
Wolf Hunting with Tom Schneider from Stuck N The Rut TV Part 2

RADCast Outdoors

Play Episode Listen Later Jan 15, 2024 59:08


Tom Schneider from Stuck N The Rut TV joins us for Part 2 of our special on wolf hunting. He shares thoughts and strategies on how to hunt wolves and also on wolf management.  You can find his youtube channel here: https://www.youtube.com/@Stuckntherut1 and you can find his classes and contact here: Western Wolf Academy (in person camp) katesmalloutdoors@gmail.com    Wolf Hunting Master Class (Online Course) https://www.wolfhuntingmasterclass.com/1   Subscribe to RadCast Outdoors and never miss an episode by clicking here.  This podcast is proudly sponsored by: Bow Spider, PK Lures, Hi Mountain Seasonings. Please go visit our sponsors and thank them for sponsoring RadCast Outdoors by giving them your business. 

Podcast – #digdeep
Tom Schneider, wie wird aus Trumpf ein digitaler Champion?

Podcast – #digdeep

Play Episode Listen Later Jan 11, 2024 46:27


om Schneider ist CTO beim Weltmarktführer Trumpf, einen Vorzeigeunternehmen des deutschen Maschinenbaus. In den Bereichen Werkzeugmaschinen und Laser macht Trumpf so schnell niemand etwas vor - doch der Markt und die Kunden verändern sich. Und so muss sich ein CTO nicht nur mit Mechanik und Hardware beschäftigen, sondern auch mit Sensorik, Daten, Cybersecurity und neuen Geschäftsmodellen. Wo früher Werkzeugmaschinen als Inseln betrieben wurden, könnten heute Daten viel über den Zustand von Maschine und Produkten erzählen. Doch dazu müssen sich die Firmen - Trumpf ebenso wie seine Kunden - starken Veränderungsprozessen unterwerfen, alte Muster entsorgen und sich auf neue, riskante Wege einlassen. Und dies gilt nicht nur für den Werkzeug- und Maschinenbau, sondern für viele mittelständige Hidden Champions. Wir wollen von Tom wissen: Wie geht man so etwas an? Und was könnte das Erfolgsmodell der Zukunft sein?

RADCast Outdoors
Wolf Hunting with Tom Schneider from Stuck N The Rut TV

RADCast Outdoors

Play Episode Listen Later Jan 8, 2024 57:30


Tom Schneider is what you would call a professional wolf hunter. Tom is a native of Idaho and has spent his entire life hunting and recreating in the wild of Idaho and Montana. He shares his observations of ungulate populations prior to re-introduction and post introduction. He also shares how to hunt wolves and gets into detail regarding wolf behavior.  You can find his youtube channel here: https://www.youtube.com/@Stuckntherut1 and you can find his classes and contact here: Western Wolf Academy (in person camp) katesmalloutdoors@gmail.com    Wolf Hunting Master Class (Online Course) https://www.wolfhuntingmasterclass.com/1   Subscribe to RadCast Outdoors and never miss an episode by clicking here.  This podcast is proudly sponsored by: Bow Spider, PK Lures, Hi Mountain Seasonings. Please go visit our sponsors and thank them for sponsoring RadCast Outdoors by giving them your business. 

hy Podcast
Folge 263 mit Tom Schneider: Geschäftsmodelle transformieren, leichter gesagt als getan

hy Podcast

Play Episode Listen Later Dec 12, 2023 28:42


Ein neues Geschäftsmodell einzuführen, wenn das bisherige erfolgreich funktioniert – kann das klappen? Trumpf, Weltmarktführer für Hochleistungslaser-Metallverarbeitung, probiert es aus. Maschinen nicht mehr nur zu verkaufen, sondern sie als „Equipment as a Service” dem Kunden hinzustellen und künftig nach gefertigten Stücken abzurechnen – das ist die Idee des Teams um Entwicklungschef Tom Schneider. Er hat ein Buch über seine Erfahrungen bei der Transformation geschrieben. Im Podcast berichtet er, was geklappt hat und wo die Herausforderungen lagen. Tom Schneider hatte schon einmal im hy Podcast von seinem Projekt berichtet. Jetzt zieht er einige Jahre später eine ehrliche Zwischenbilanz. Ein Werkstattbericht aus der Praxis der Geschäftsmodell-Transformation, wie er für viele andere Firmen und Branchen interessant sein kann. Und ein Erfahrungsbericht von einem, der auszog, ein Buch über seine Erfahrungen zu schreiben. Gemerkt hat er auch: Es gibt Parallelen zwischen dem Entwickeln einer Maschine und dem Schreiben eines Buches. Beide Prozesse erfordern Begeisterung, Kreativität, professionelle Unterstützung und sind iterative Prozesse, die zu einem Endprodukt führen. Eine Folge für alle, die Geschäftsmodelle transformieren und wissen wollen, wie es ihren Mitstreitern anderswo ergeht. Ihnen hat die Folge gefallen oder Sie haben Feedback für uns? Dann schreiben Sie uns gerne an podcast@hy.co. Wir freuen uns über Post von Ihnen.

Hunt Harvest Health
#187: Western Hunting Summit 2023 Archery Elk Q&A

Hunt Harvest Health

Play Episode Listen Later Jul 19, 2023 92:16


In this episode, listen to our Q&A session from the 2023 Archery Elk Western Hunting Summit! We had a great panel for this Q&A, including Dr. Kaare Tingelstad, Dr. Hillary Lampers, Mark Livesay, Joel Turner, Tom Schneider, Brian Barney, Brian Call, Ryan Lampers, and Brad Hunt. Enjoy! @frontierdoc @dochillary @treeline_pursuits @joelturner_shotiq @sntrhunter @brian__barney @brian_call @sthealthyhunter @brad_whunt @huntharvesthealth The NEW Gritty Films featuring Pailey and Ryan's impressive Mule deer hunts have just been released HERE.  To celebrate the film, we're hosting a HUGE giveaway in collaboration with Gritty and The Western Hunting Summit. For every $10 purchased at sthealthyhunter.com, you'll have a chance to WIN an all-expenses-paid trip to the Western Hunting Summit 2024, along with other fantastic prizes. The giveaway ends this Sunday, July 26th, so hurry! Use code STHEALTHY at checkout to enter and enjoy a 10% discount. Don't miss out on this incredible opportunity to join us for an unforgettable adventure! Check out our Immune Support Probiotic! Join the Fortitude Challenge 2023! Get your Harvest Right Freeze Dryer during their sale now through the end of May to get $500 OFF! StHealthy Nutrition - CBD/CBN Melatonin FREE Sleep Gummies back in stock! Mixed Berry and Sour Peach! Visit Gritty Films on Youtube to watch the Coues Deer Series. Dress like Ryan with Stone Glacier! Go to Western Hunting Summit and get your 2022 ticket! Use STHEALTHY for $100 off. Give GOHUNT a try for Insider! Use STHEALTHY at checkout! Get the CLEANEST Pre-Workout on the Market! KONO for 10% off use code STHEALTHY Watch this podcast and other great videos on our StHealthy Hunter YouTube! New StHealthy Production Films coming 2023! Join Locals- Gritty/StHealthy and Hunt Harvest Health. Support GRITTY FILMS! Leave us a review on iTunes! This podcast is sponsored by StHealthy Hunter and StHealthy Nutrition Use code STHEALTHY when you purchase Treeline Pursuits E-Scouting for Elk. Use code StHealthy at Peax to get your Sissy Stix, Gators, and Backcountry Duo Headlamp! 10% OFF Sheep Feet Orthotics - Visit sheepfeethoutdoors.com and use code STHEALTHY10 See the amazing deals at Harvest Right Freeze Dryers for making your own backcountry food! To schedule with Dr. Hillary visit her Montana clinic, Elevate Health. Learn more about your ad choices. Visit megaphone.fm/adchoices

Feuilletöne - Der Podcast mit wöchentlichem Wohlsein, der den Ohren schmeckt
J. B. Becker, Tom Schneider, The Jazz Warriors und kein Gedöns

Feuilletöne - Der Podcast mit wöchentlichem Wohlsein, der den Ohren schmeckt

Play Episode Listen Later Jun 23, 2023 28:15


Moin! Da sind wir wieder! Zumindest einer von beiden. Herr Martinsen verkostet einen J.B. Becker Riesling Wallufer trocken aus dem Jahr 2019. Er hört 'Isotopes' von Tom Schneider und The Jazz Warriors und deren gleichnamiges Album. Ach ja! Und noch was. Wir werden mitte Juli 500! Schickt eure Audioglückwünsche oder andere Glückwünsche an info@feuilletoene.de

Gritty Podcast
EP. 797: LIVE Q&A | 2023 WESTERN HUNTING SUMMIT | ARCHERY ELK

Gritty Podcast

Play Episode Listen Later Jun 22, 2023 83:04


On this podcast we have a panel that consists of Ryan and Hillary Lampers, Brian Barney of Eastman's Elevated Podcast, Dr. Kaare Tingelstad, Joel Turner from ShotIQ, Mark Livesay of Treeline Pursuits, Tom Schneider from Stuck N Rut, Brad and myself answering questions LIVE. We are at the 2023 Archery Elk Western Hunting Summit. WIN a BRAND NEW PSE compound bow and a trip to the TOTAL ARCHERY CHALLENGE (all expenses paid) with us! All you need to do to be entered to win is shop at MTN OPS between now and June 25th at midnight. Every dollar you spend at MTN OPS is an entry to win! We will fly the lucky winner to Utah, get your bow fully set-up by our friends at the WILDE ARROW ARCHERY shop and you'll join us on the mountain for an epic day shooting bows at the TOTAL ARCHERY CHALLENGE event at SOLITUDE/BRIGHTON in July--we cover ALL of your expenses and gear! And you can win a huge GEAR PACKAGE if you visit our friends at the GOHUNT GEAR SHOP and buy some gear between now and June 25th. EVERYTIME you use the CODE "GRITTY" at MTN OPS or GOHUNT you save and YOU'RE entered TO WIN! As always, THANKS FOR SUPPORTING OUR SHOW! Get access to EXCLUSIVE CONTENT and interact with other members of the GRITTY/STHEALTHY COMMUNITY by GOING TO: https://gritty.locals.com/ AND BECOME A SUPPORTER! *CODES* FREEZE DRYERS— https://affiliates.harvestright.com/2074.html GOHUNT GEAR SHOP 10% Off-- Use code GRITTY https://shop.gohunt.com/discount/GRITTY COOLERS -- Blue Coolers -- Save 10% code: GRITTY https://bluecoolers.com/ GAITERS PEAX -- SAVE 10% -- code: GRITTY - https://www.peaxequipment.com/ TREKKING POLES PEAX - SAVE 10% -- code: GRITTY - https://www.peaxequipment.com/ MTNOPS SUPPLEMENTS: use code GRITTY at check out to save - https://mtnops.com STHEALTHY NUTRITION: use code GRITTY at check out at https://sthealthynutritioncbd.com/ STHEALTHY RIFLE COVER: use code GRITTY at https://huntharvesthealth.com/sthealthy-products OLLIN DIGISCOPING: SAVE 10% & FREE SHIPPING —GRITTY https://ollin.co DARK ENERGY BATTERY BANK: code: GRITTY https://darkenergy.com/ CRISPI BOOTS https://www.crispius.com/ BED ROLLS -- SAVE 10% -- code: GRITTY - https://canvascutter.com E-SCOUTING CLASSES ELK -- code: GRITTY - https://treelinepursuits.com BACKPACK INITIAL ASCENT -- SAVE -- code: https://initialascent.com/ SHEEP FEET ORTHOTICS -- Use code GRITTY. https://sheepfeetoutdoors.com/collect... GOAT KNIVES -- Use code: GRITTYGOAT - https://goatknives.com BROADHEADS -- 10% off Valkyrie Archery -- code: GRITTY - https://valkyriearchery.com GAME BAGS -- 10% off Grakksaw Game bags -- code: GRITTY - https://www.grakksaw.com BOOT DRYERS -- 10% off Grakksaw -- code: GRITTY - https://www.grakksaw.com GOHUNT INSIDER $50 Credit-- Use code GRITTY https://www.gohunt.com/user/register?plan=insider&promo=GRITTY GOHUNT Explorer Maps $20 Credit-- Use code GRITTY https://www.gohunt.com/user/register?plan=explorer&promo=GRITTY SHELTERS/ STOVES -- SAVE 5% -- code: GRITTY - https://bit.ly/grittyxSO GRILL — BIRCH BARRELL — SAVE 10% — code: GRITTY —https://burchbarrel.com MEALS HEATHERS CHOICE -- use code: GRITTY - https://www.heatherschoice.com FOOD — BACKCOUNTRY FUEL BOX -- SAVE 10% -- code: GRITTY - https://backcountryfuelbox.com BACKPACKING SUPPLIES - SAVE 10% at https://www.blackovis.com/ PACK RAFT -- SAVE 10% at Alpacka Raft -- code: GRITTY - https://www.alpackaraft.com STALKASINS Leather Mocasins -- SAVE 10% Use code: GRITTY -- https://www.lonepeakleather.com/ ____________________________________________________________________ Get access to EXCLUSIVE CONTENT and interact with other members of the GRITTY/STHEALTHY COMMUNITY! GO TO: https://gritty.locals.com/ AND BECOME A SUPPORTER! ____________________________________________________________________ GRITTY SHIRTS and HATS - https://briancall.com/shop/ Follow Brian! Instagram BRIAN - https://www.instagram.com/brian_call/... Website GRITTY - https://briancall.com/ SIGN-UP FOR OUR NEWS LETTER - https://briancall.com/ https://gritty.locals.com/ Brian Call www.briancall.com MB01ATZV2U3Q6NV Musicbed SyncID: MB01WBTPSNUDST4 Brian Call www.briancall.com Musicbed SyncID: MB01WBTPSNUDST4 MB01VP5HVWQTEXB MB01FB2AMDISG80 MB01L7SM4U94DUF MB01CIMJE8XKSUZ MUSIC: Artlist MUSIC LICENSE #: 631108

The Baseball Bucket List Podcast
Tom Schneider: Bloomberg, Bonilla, & Scouting as the Lifeblood of a Franchise

The Baseball Bucket List Podcast

Play Episode Listen Later Mar 16, 2023 42:11


Tom Schneider is a life-long Cubs fan currently living on Long Island, NY. He is the co-founder of Bloomberg Sports, which was a tech product that MLB franchises used to run baseball operations. We chat about some entertaining experiences Tom had with former players and owners while working on Bloomberg Sports, what it's like to have children who are fans of rival teams, and why scouting is such a huge component of the overall health of a franchise. We also hear what it was like to be at the first MLB game post 9/11, and touch on where each of us thinks the next league expansion location might be. Find Tom Online: Twitter: @thetomschneiderFind Baseball Bucket List Online:Twitter: @BaseballBucketFacebook: @BaseballBucketListInstagram: @Baseball.Bucket.ListWebsite: baseballbucketlist.comThis podcast is part of the Curved Brim Media Network:Twitter: @CurvedBrimWebsite: curvedbrimmedia.comSportsBall is the subscription box created for the baseball fan who wants more. Each box contains a hat, a decal, and a souvenir item. Learn more at https://sportsballbox.com/

America Outdoors Radio Podcast
America Outdoors Radio - February 25, 2023

America Outdoors Radio Podcast

Play Episode Listen Later Mar 3, 2023 45:43


Host John Kruse chats with: 1.  Darcy Pfeifer with Sittin' Like It's Hot about their plush, water-resistant, heated camp chairs 2.  Keith Crowley about his recent hunt for Mearns Quail in Southern Arizona 3.  Tom Schneider with Stuck N The Rut and Roy Klingler with Idaho Elk Outfitters about a very special elk hunting camp they are putting on in June for ten lucky participants 4.  Danielle Doyle invites you to explore Alaska's 3500-mile marine highway on their ferry system  

The Western Huntsman Podcast
145. Wolf Impacts and Hunting with Tom Schneider

The Western Huntsman Podcast

Play Episode Listen Later Mar 1, 2023 116:39


Back by popular demand, Tom Schneider joins me this week!    Tom is one of the founders of Stuck N The Rut, a popular YouTube channel and Podcast, he's a lifelong hunter, fellow North Idahoan, and perhaps one of the most successful hunters I know. He's also known for his consistent ability to locate and kill wolves. In this episode, we wander through some wolf hunting stories and techniques, and discuss the impacts wolves bring to the landscape. We talk about some of the expectations that Coloradans should have on the upcoming reintroduction, and the realities of having wolves in the mountains you hunt. As usual, Tom brings his A-Game to this episode, and it's loaded this week! Tom on Instagram Wolf Hunting Master Class Online Course Email Tom for the Western Wolf Academy at sntrhunter@gmail.com   Show Sponsors! Phelps Game Calls - The game call company of The Western Huntsman! https://phelpsgamecalls.com/  -Use Promo Code “Huntsman10” for 10% off! Hoffman Boots: Best hunting boots you'll ever own. I guarantee it! Use promo code “HUNTSMAN10” for 10% off! https://hoffmanboots.com/hoffman-mountain-boots Eastmans Hunting Journals: What Western Hunter doesn't know Eastmans Hunting Journals?? I've been a fan and subscriber to the magazine since I was a kid, and you should too. Between the magazine, Eastmans TagHub, and the new Mule Deer eCourse, Eastmans has something for everyone and the tools every Western Hunter should have! Check it out at https://www.eastmans.com/ Hit me up at jim@thewesternhuntsman.com

Gritty Podcast
EP. 768: STUCK N THE RUT | TOM SCHNEIDER

Gritty Podcast

Play Episode Listen Later Feb 23, 2023 64:23


On today's podcast I sit down with Tom Schneider from Stuck N the Rut. We talk about some of Tom's favorite hunting memories, how his siblings almost died from a bear attack and more. Be sure to go watch their films  @Stuckntherut1  Follow them on instagram @stuckntherut Also, be sure to check out their mule deer hunting class https://www.stuckntherutmuledeermasterclass.com/us and their wolf hunting class https://www.wolfhuntingmasterclass.com/ Get access to EXCLUSIVE CONTENT and interact with other members of the GRITTY/STHEALTHY COMMUNITY! GO TO: https://gritty.locals.com/ AND BECOME A SUPPORTER! *CODES* GOHUNT GEAR SHOP 10% Off-- Use code GRITTY https://shop.gohunt.com/discount/GRITTY GOHUNT INSIDER $50 Credit-- Use code GRITTY https://www.gohunt.com/user/register?plan=insider&promo=GRITTY GOHUNT Explorer Maps $20 Credit-- Use code GRITTY https://www.gohunt.com/user/register?plan=explorer&promo=GRITTY GAITERS PEAX -- SAVE 10% -- code: GRITTY - https://www.peaxequipment.com/ TREKKING POLES PEAX - SAVE 10% -- code: GRITTY - https://www.peaxequipment.com/ MTNOPS SUPPLEMENTS: use code GRITTY at check out to save - https://mtnops.com STHEALTHY NUTRITION: use code GRITTY at check out at https://sthealthynutritioncbd.com/ STHEALTHY RIFLE COVER: use code GRITTY at https://huntharvesthealth.com/sthealthy-products OLLIN DIGISCOPING: SAVE 10% & FREE SHIPPING —GRITTY https://ollin.co DARK ENERGY BATTERY BANK: code: GRITTY https://darkenergy.com/ BED ROLLS -- SAVE 10% -- code: GRITTY - https://canvascutter.com E-SCOUTING CLASSES ELK -- code: GRITTY - https://treelinepursuits.com BACKPACK INITIAL ASCENT -- SAVE -- code: https://initialascent.com/ SHEEP FEET ORTHOTICS -- Use code GRITTY. https://sheepfeetoutdoors.com/collect... GOAT KNIVES -- Use code: GRITTYGOAT - https://goatknives.com BROADHEADS -- 10% off Valkyrie Archery -- code: GRITTY - https://valkyriearchery.com GAME BAGS -- 10% off Grakksaw Game bags -- code: GRITTY - https://www.grakksaw.com BOOT DRYERS -- 10% off Grakksaw -- code: GRITTY - https://www.grakksaw.com SHELTERS/ STOVES -- SAVE 5% -- code: GRITTY - https://bit.ly/grittyxSO GRILL — BIRCH BARRELL — SAVE 10% — code: GRITTY —https://burchbarrel.com MEALS HEATHERS CHOICE -- use code: GRITTY - https://www.heatherschoice.com FOOD — BACKCOUNTRY FUEL BOX -- SAVE 10% -- code: GRITTY - https://backcountryfuelbox.com BACKPACKING SUPPLIES - SAVE 10% at https://www.blackovis.com/ PACK RAFT -- SAVE 10% at Alpacka Raft -- code: GRITTY - https://www.alpackaraft.com STALKASINS Leather Mocasins -- https://www.lonepeakleather.com/stalk... ____________________________________________________________________ Get access to EXCLUSIVE CONTENT and interact with other members of the GRITTY/STHEALTHY COMMUNITY! GO TO: https://gritty.locals.com/ AND BECOME A SUPPORTER! ____________________________________________________________________ GRITTY SHIRTS and HATS - https://briancall.com/shop/ Follow Brian! Instagram BRIAN - https://www.instagram.com/brian_call/... Website GRITTY - https://briancall.com/ SIGN-UP FOR OUR NEWS LETTER - https://briancall.com/ https://gritty.locals.com/ Brian Call www.briancall.com Musicbed SyncID: MB01WBTPSNUDST4 Brian Call www.briancall.com

Pull'N Feathers's podcast
Ep. 136 Stuck N The Rut

Pull'N Feathers's podcast

Play Episode Listen Later Jan 13, 2023 97:23


I speak with Tom Schneider of Stuck N The Rut about all sort of hunting but mainly we talk wolf hunting and tactics. Tune in and check it out . and give his master class a look too! Learn more about your ad choices. Visit megaphone.fm/adchoices

Byers & Co. Interviews
Tom Schneider & Jim Getz - December 30, 2022

Byers & Co. Interviews

Play Episode Listen Later Dec 30, 2022 42:29


December 30, 2022- Jim Getz, Commander of Macon County Law Enforcement Center, & former Sheriff, Tom Schneider joined Byers & Co to talk about the amendments to the SAFE-T Act, dealing with the constant worries that police officers will be in harm's way, & how post retirement is going. Listen to the podcast now!See omnystudio.com/listener for privacy information.

Cutting The Distance with Remi Warren
Ep. 24: Hunting Wolves with Tom Schneider

Cutting The Distance with Remi Warren

Play Episode Listen Later Nov 3, 2022 78:54 Very Popular


This week on the show, guest host Dirk Durham talks with Tom Schneider about everything wolf hunting. Wolf hunting -- even to experienced backcountry hunters -- is often a mystery. An encounter with a wolf seems to be more chance than the product of a dedicated pursuit. Tom Schneider, however, finds success targeting wolves year after year. In this episode of Cutting The Distance, Schneider lets the cat out of the bag when it comes to bagging dogs.  Connect with Jason and Phelps Phelps on Instagram, Facebook, and Youtube Shop Phelps MerchSee omnystudio.com/listener for privacy information.

Byers & Co. Interviews
Tom Scheider & Jim Getz - October 27, 2022

Byers & Co. Interviews

Play Episode Listen Later Oct 27, 2022 19:51


October 27, 2022 - Tom Schneider and Jim Getz of the Macon County Law Enforcement Training Center joined Byers & Co to talk about the work and developments at their facilities and their upcoming Trick or Treat event. Listen to the podcast now! See omnystudio.com/listener for privacy information.

Byers & Co. Interviews
Chief Shane Brandel & Tom Schneider- September 28, 2022

Byers & Co. Interviews

Play Episode Listen Later Sep 28, 2022 51:44


September 28, 2022- Former Sheriff & current Deputy Patrol Commander at Macon County Law Enforcement Training Center, and Chief Shane Brandel, of the Decatur Police Department, joined Byers & Co to talk about the SAFE-T-Act, the benefits of serving in the military, and what sets the Macon Law Enforcement Training Center apart from others training facilities. Listen to the podcast now!See omnystudio.com/listener for privacy information.

The Wheel Weaves Podcast
Ep. 807 - PoD Ch. 9: Tangles and Ch. 10: Changes

The Wheel Weaves Podcast

Play Episode Listen Later Aug 16, 2022 106:53


In this episode, Dani and Brett discuss chapters 9 and 10 of The Path of Daggers.We want to welcome Tom Schneider and Eva Thurman-Keup to The Wheel Weaves Patreon Team! Thank you so much for your generosity!Welcome to Charlie Haz, the newest member of our Producer Team! Charlie joins Esen, Benjamin, Passionsocks, Moltude, Mozyme, Michelle O'Brien, Jamie Young, Cody Fouts, Jonathan Reese, Magen Smiley, and Margaret! We would like to acknowledge and thank our Executive Producers Brandy and Aaron Kirkwood, Sean McGuire, Janes, Albert Lorenzo, LightBlindedFool, The Amyrlin Seat and Green Man!The Wheel Weaves is hosted by Dani and Brett, edited by Dani, produced by Dani and Brett with Music by Audionautix.Check out our partner - the Anti-Spoiler Wiki - Spliki.com - Your main first time reader, spoiler-free WoT information source!Don't forget to find us on Instagram and Twitter and come join the conversation on our Discord channel! Find us on Patreon to support us and to get access to bonus content and don't forget to leave us that 5 star review if you enjoy the show!Check out our Website for everything The Wheel Weaves! https://www.thewheelweavespodcast.com

The Bernard Lee Poker Show
The Bernard Lee Poker Show 6-21-22 with Guests Chris Wallace & Tom Schneider

The Bernard Lee Poker Show

Play Episode Listen Later Jun 21, 2022 60:36


Bernard Lee is at the WSOP and chats with Chris Wallace and Tom Schneider. 

The Bernard Lee Poker Show
The Bernard Lee Poker Show 6-21-22 with Guests Chris Wallace & Tom Schneider

The Bernard Lee Poker Show

Play Episode Listen Later Jun 21, 2022 60:36


Bernard Lee is at the WSOP and chats with Chris Wallace and Tom Schneider. 

The Western Huntsman Podcast
112. Mule Deer Masters with Tom Schneider

The Western Huntsman Podcast

Play Episode Listen Later Jun 7, 2022 107:48


You may or may not know this, but I love mule deer hunting. I've always considered myself fairly proficient at it too, until I met Tom from Stuck N The Rut! Tom is a master level mule deer hunter. He's notched muley tags all over the Western U.S. and while his last appearance on the show was centered around hunting wolves, this one is mule deer focused. Also, check out the Stuck N The Rut Mule Deer Master Class! This digital course will walk you through the secrets that have proven year after year that Tom is an expert mule deer hunter, and he's willing to help you become one too! Mule Deer Master Class Stuck N The Rut on Instagram Show Sponsors and Discounts! SKRE Gear - High octane hunting attire without breaking the bank! https://www.skregear.com/  -Use Promo Code “thewesternhuntsman” for 15% off and free shipping! Phelps Game Calls - The game call company of The Western Huntsman! https://phelpsgamecalls.com/  -Use Promo Code “Huntsman10” for 10% off! The Elk Collective: An absolute game-changer in self-education. This virtual elk hunting course offers over 140 videos of instruction delivered through the best elk hunters on the planet. Use promo code “thewesternhuntsman” for $20 off the entire course, and go into the elk woods with a lot more confidence this year! Visit the website: https://theelkcollective.com/  Hoffman Boots: - Best hunting boots you'll ever own. I guarantee it! Use promo code “HUNTSMAN10” for 10% off! https://hoffmanboots.com/hoffman-mountain-boots Tactacam -Filming your hunt has never been easier and more affordable! https://www.thewesternhuntsman.com/product-category/gear/ Bait Em 907 -Use promo code “Huntsman10” for 10% off of all bear attractants and other products. https://www.baitem907.com Follow us on Social Media! https://linktr.ee/westernhuntsman  

Karen Conti
How Freedom of Speech fits into George Carlin's American dream

Karen Conti

Play Episode Listen Later Jun 6, 2022


In the midst of the popularity of the documentary ‘George Carlin’s American Dream,’ WGN Radio’s Karen Conti is joined by attorney Tom Schneider to discuss the time he was asked to prosecute the legendary comedian only to end up being called to his defense. The conversation eventually turned to a discussion about our First Amendment […]

The Remote Real Estate Investor
Here's what you need to know about investing in the Greenville SC market

The Remote Real Estate Investor

Play Episode Listen Later May 6, 2022 29:55


In this episode, we are joined by Matt Crawford and Alex Fischer, two Roofstock Certified Agents, to discuss the Greenville and Spartanburg South Carolina markets. We cover the different asset classes, neighborhoods, demographics, price points and return metrics, short term rentals, geographic considerations and much more. If you want to learn more about investing in South Carolina, Matt and Alex have the goods. Contact Matt and Alex at: acquisitions@evernest.co --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The remote real estate investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   What's going on everyone? Welcome to another episode of the remote real estate investor. I'm Michael album and today I'm joined by Matt and Alex, two of our agents as part of Roofstock Certified agent network down in South Carolina. And they're going to be talking to us today about the Greenville and Spartanburg markets and everything we as investors need to know about it. So let's get into it.   Matt Crawford, Alex Fisher, how are you guys?   Man? We're doing great Michael here. Thank you guys so much for having us. Good to be here.   I guess. Yeah, our pleasure. So I know you because I work with you guys regularly as part of our certified agent network with Roofstock. But for anyone who might not be familiar with who you are, give us a quick rundown who you are. Where do you live? What what markets do you operate in? And what is it that you're all doing in real estate?   Absolutely. So for everybody out there, you know, welcome to the Roofstock remote podcast as you guys know, Michael, he's a champion of the people he's the one in the van rockin. But for us, you know me now it's we're the greatest broker Team roofstock has ever seen. That lightly, but I do mean it. I think we're very passionate about we, that what we do, how we present the products to you guys, as consumers. And as the educational base, you know, we're very thankful for the opportunity. So we represent a couple of markets here in South Carolina. It's where Alex and I are born raised. Alex, you want to add two cents on top of that, sir?   Yeah, I mean, obviously, our hometown is Columbia, really anywhere in South Carolina. That's where we have most of our experience. And you know, we love doing nothing more than trying to get out here and make some people some money and find some good deals. So our obviously our go to is going to be South Carolina areas. Love it.   And why did you guys partner up? And how did you two meet?   That's such a long story. But it's been we've been kicking it for, like 12 years. And and you know, and we're both we're both 32. So I mean, we were we were young lads and our ladies at the time were like best friends. And you know, Alex's wife was always talking to my girl about meeting Alex and I thought he was strange because he was like, a financially adept teenager, like Alex had his first house and like nine years older, or like, 19, whatever. Don't none of those. And meet Alex just kept kicking it in. You know, Alex was working at one of the top four consultancy firms. PwC. And I was out in Denver, sort of so notes and Alex, you know, hats off to him. He'd call me like, every week, checking up on me, and it's like, Matt, you know, we got to get new real estate, we have the potential. He really convinced me to move back to South Carolina. And fast forward five years. We have our own companies now.   Love it. All right, you too. Well, let's talk about Greenville and Spartanburg, South Carolina. It's a market that I'm not very familiar with. And so we're going to, you know, talk to me, like I'm five years old walked me through. Why is are these markets? Interesting? Why should people be interested in investing in rental properties in these two markets? Yeah, so   I guess the main differences between, you know, the Upstate and Columbia is property values are a little bit higher. You know, Greenville is an incredibly cool city, especially compared to Columbia. So it's, it's pretty big, and it's owned, but there's a lot around Greenville, which would, you know, be the mountains, you know, it's convenient to the beach, which is maybe about two and a half, three hours away. But also, you've got the North Carolina, you've obviously got, you know, Clemson around the area. There's a lot of opportunities in regards to Reynolds because there are a lot of colleges around there. But you know, our biggest thing is pushing the appreciation, you're going to see that the rents are not keeping up as much with the property values are at least as quickly. But the good news is they are good opportunities for long term holds because of the appreciation and from what we've been seeing the appreciation there in the upstate in general is just much stronger than it is in Colombia, that the good thing about Colombia is the opportunity for rents because the rents are keeping up with the property values, but I think we're going to see a lot of that stuff slowly. You know, I guess level off a little Bit just based on how the market is kind of moving now. So then the rents will eventually kind of just end up evening out with what the appreciation is actually doing.   And Matt, who are some of the big employers, I know, Alex, you mentioned, Clemson and a lot of colleges around there, but are other than college students and college faculty. What are people moving to the area for for your typical jobs? I mean, are there big employers there?   Yeah, you know, I think Michael, you know, putting you in the frame of mind of like a new investor coming into South Carolina, and for all the investor, and whether you're 18 years old, looking for your first rental or a seasoned investor with 100 properties, I always like to sort of start at the origin story of the market. And Greenville upstate in general, is like the textile industry of the US. I mean, you got to look historically, in South Carolina and the South, you know, this is where a large majority of the cotton of the Indigo dies of anything the derivative of the textile industry, really was created. And that really set its roots into Greenville and to Spartanburg itself. So Greenville still has a ton of products from that era, which include huge textile mills. What that means from an investor's standpoint, is that you had all this workforce housing, you know, even my mom was from easily, which is about 25 minutes from downtown Greenville. They grew up on the Mill Hill. And so as you can imagine, it's perfect substance for the gentrification to happen, you know, and it's not 20 years ago, where we could buy a house for 75,000. And now it's worth 500. But you can still follow that development curve does molding out of Greenville into areas like easily fantastic market to look into. The biggest one, I think the all star of this podcast for everyone listening is going to be Travelers Rest. And I think Alex knows a lot about this as well. Because Greenville on the Clemson grab, right, Clemson, Clemson Tigers, you know, we're about 30 minutes past Greenville. And so I got to see this beautiful development happened in Greenville, which is just created a pretty high saturated market. So now for any investors and yourself, Michael, you know, I think pushing to the satellite markets that are still quite contingent to Greenville population and economic drivers makes the most sense. So that's really were trout interest is becoming an all stock market, low property purchase prices, you know, you're talking three twos 175,000 or less, the really good median rents, almost to the 1% rule. I don't think it's as sexy as here in Colombia. It is just because Greenville has already seen so much more maturation than here in the middle the state says Greenville, so biggest thing on Greenville. Here we go Pierre's driving in and if we drive in, travelers risks going to be you're looking at o'clock at 11 o'clock to us. So guys, if you're out there, you're wanting to see properties. I can guarantee if you Zillow, Greenville, you're gonna see stuff for like 300,000 400,000 that rinse 2500 or so now you go up to Travelers Rest, those economic numbers are totally going to flip flop. So please feel free to look at these kinds of products is the same MLS as Greenville. So Alex and I will be publishing properties. And then if we come back to the center of the city in Greenville, and look at nine o'clock on the clock hands, you're going to look at easily so it's directly to the left of Greenville. Sort of right in the left there to the screen. Thanks, Pierre. Also a great case study for what's happening in this market. As a lot of the renters, the investors and the development dollars are starting to bleed out of Greenville, which is sort of the cool analogy as Greenville really had its foothold in the indigo dye business. So if you can imagine this indigo dye starting to come out of this central geo easily is fantastic. You can still find great inventory. But even as Alex and I thought, Hey man, let's open up the upstate with roof stock ease these going to be just fish in a barrel. It's not the case. You know, it's still very, very saturated with investment and institutional dollars, which puts Traveler's Rest as my number one submarket   You heard it here first, ladies and gentlemen. I love it, Matt. And to give people kind of a frame of reference, what was the general population of Greenberg? MSA?   Yeah, I think it's almost like 500,000 Okay, so it's pretty massive city. definitely bigger than I think it's like the fifth or sixth largest city in South Carolina. I definitely Being a local think it's like, probably number two of like, most sought after livable millennial culture cities. I think it goes Charleston and probably Greenville. And you know, guys, if you're looking for Airbnbs, totally different ballgame, we're talking totally different set of data here. But the short term rental market in Greenville is off the charts. And I think that is, yeah, definitely is perfectly perfectly tied to the nightlife and the culture that Greenville has done. And even just to dig a little deeper here, you know, 25 years ago, there really wasn't a main street or a main vein in Greenville, in fact, what they call false Park, which is a main park, and mainstream Greenville was beautiful, natural waterfall, it was actually covered by an overpass right here appears on a false park on the reading. So the Reedy River cuts to the city, this used to be covered up. And now in the last 10 to 15 years, they've probably dumped 100 million or more into this gorgeous walkable facility that has these natural features are just a beautiful suspension bridge. And that is has created this really nice culture that is in Greenville. And I think that's why the short term rental market really works if you're looking for higher property purchase prices, but I think your Airbnb models will be rock star here.   That's really interesting that and so talk to me a little bit about property taxes, because I think that's something that's always on people's mind is one of the a big expense that can either make or break in investment. So how do those work in in South Carolina? Or maybe more specifically, in Greenville?   Yeah, so typically what we do, and a lot of people don't realize this from the get go, but everybody's looking at Zillow, you can go to any house, and you can see what the roughly what the what the taxes would be. However, with Columbia, South Carolina, in general, the property taxes are different, you know, there's two different types of property taxes, you got an owner occupied and the non owner occupied and people don't realize the non owner occupied is obviously, you know, the, these big investors that come in, these are the taxes that these guys are gonna have to pay the small guys, whatever. So when you live in the house, and you look into Zillow, you're gonna see one number, but in reality, that number can essentially be doubled, when you start to consider that you're actually going to put a renter in place, which is a huge buzzkill for a lot of investors. But at the same time, once you kind of understand that is the case, now you can kind of work your numbers around you can kind of you'll you'll look in a different direction for the opportunity, I guess you could say. But typically, what we tell people is when it comes to taxes, the non unoccupied rate is going to be roughly and again, this is just a rule of thumb, this is not exact, is about two and a half percent of the purchase price that will give you a good gauge on, you know what your monthly cash flow would be. And as you can imagine, you know, what I would say is, you know, the owner occupied tax rate is probably around one to, you know, one and a half percent. So as you can imagine, you do the math, it's almost double what the the owner occupied rate is, which is very unfortunate. And that's probably been our biggest hurdle for the South Carolina markets. But again, you know, it just allows us to kind of, you know, I guess stretch our fingers out and see what we can find in regards to more off market properties. Maybe some smaller homes, but it really does make it more difficult for investors to actually go out and find something just because it does, it does hurt the cash flow a good bit.   Yeah, that makes total sense. And we talked a lot about Greenville. What about Spartanburg? What Should folks be aware of and where should they be looking out there?   Okay, cool. Cool. Let's uh, so drive the car, probably about 45 minutes east. And now we're at Sparkle city baby, which is sort of just a local term slang for Spartanburg that I can give no context to. I have no idea why they call it sparkle city, but it makes for a fantastic nickname. Totally. So we're driving the sparkle city. Or we're laying it down and to me, and I think even to Alex's standpoint, I'm a bigger fan of Spartanburg than Greenville. Granted, you know, snagging the Airbnb downtown mainstream Greenville. Sounds awesome. I think if you're looking to build long term rental portfolios, maybe two or three a year you're wanting to be in Spartanburg. That's just because it's more like a It's not rural in the sense, but it's more workforce housing. I think Greenville, you're going to be playing with a lot of individuals that are potentially, you know, making 80 to 100 grand a year. Not necessarily looking for a true three two rental whereas in Spartanburg it's definitely labor force and I think you find that labor force In the biggest BMW plant in the southeast, so BMW Michelin all have one of their largest manufacturing plants, right outside of Spartanburg. I think all the x five series beamers in the world are made here in this BMW plant. Which is beautiful. Yeah. So like you drive by it as it's as gorgeous setup. So really, really cool. And I think that's driven, this workforce class of tenants that you would see, of course, there's 10 colleges in Spartanburg. And if you were to visit Greenville, you're like, oh, man, this place is poppin. Like, there's Michelin star restaurants. In a beautiful downtown, you go to Spartanburg, there's like, you know, mom and pops, Biscuit Company, you know. But what you want to see, and from an investor's perspective, which I think looks good, is right downtown, is this brand new five star hotel, super swanky, beautiful rooftop, you walk into it, and you're like, oh, there's money here. Something's happening. And so to me, that says that a lot of these development dollars that have been looking around different GEOS here in South Carolina, finally, have seen Oh, Spartanburg is a super viable market, I would say maybe it's like Greenville, 15 years ago. And talk quick numbers. Whereas if you were in Greenville, your three two is 250,000. Your three two here is going to be a buck 50. So I mean, we're talking about $100,000. And price changes now that is reflected in the rent rates. That three two in Greenville is definitely a 1550 1695 monthly rent products. That same three two here in Spartanburg, you know, you are going to be looking at like 900 to $1,200. And I think that's just positioned on the type of tenant that we're commonly seeing here. But inventory is easier, you're not going to have such a saturation of buyers unless bidding wars. So I'm big fan and pro tip, bing, bing, bing, for everybody out there listening, I think, I don't know if you're gonna make that a sound but I'll do my own AdWords. I think that you know, me and Alex like, you know, we're we're we have a large acquisition base for different companies. And we're last two years has been a gauntlet with interest rates at 2.3%. Back in January of 2021. As of this year, this month, I just checked really like 5.6. And what we're seeing when we're checking foreclosure lists, we're looking at so many different counties across about 30 Different in essays is things are doubling every single month as far as foreclosures, as far as the evictions that are actually being filed in process. So what that means for you guys, as investors in the audience of the podcast is you get your cash ready. I think the bidding wars are the are finally starting to water down. So whether it is green, or whether it is Spartanburg, you're gonna see a lot more inventory and I think you're gonna have a lot more purchasing power, especially if you're coming with some kind of liquid cash on the deal.   Okay, good to know and what areas of Spartanburg really excites you.   You know Spartanburg,   if you made your number one call for Greenville, what's your number one call for Spartanburg   easy shot right in the heart of Gaston. Gaffney is just a subset right out of Spartanburg, you know I think Spartanburg is old enough to where you can put a stake downtown, though a 30 mile radius around it, and go shopping. That's how I would look on Zillow. But Gaffney in particular, a sub market really great, right on.   And if someone is coming into the South Carolina Market, just in general, or maybe these two markets specifically, what things should they be aware of? What's kind of common practice par for the course, like as an example out in California, we have termites, and so if you see a little bit of termite damage, that's not the end of the world, you can get it fixed, depending of course, about where it is and how pervasive it is. But what are some things that people should expect to see that might be red flags in their home market, that they shouldn't be too worried about?   Let's see around here. One of the more common things that, you know, becomes concerning, I mean, it comes concerning to anybody, but it is pretty normal. It's just more foundational issues. You know, having cracks in the foundation, unfortunately, is normal. But you know, when and I don't know how it is in California, but I know the second somebody sees you know, foundation cracks and stuff like that. It's definitely it becomes something very worrying. But from our perspective, we're like, look, this is normal. You know, we there's plenty of companies don't get me wrong, there are expensive, but there are plenty of companies that can go and help remediate that. At However, even at that point, you know, it's pretty easy to gauge, especially on the inspection reports how severe it's going to be. As long as it's nothing that's like, overall, structurally is going to be concerning, then we don't see it being a big deal just because it is normal. But again, that's from our perspective, we've never seen anything major come up. And if we do, you know, we were able to read through the inspection report and say, you know, hey, maybe we should get one of these guys out here from you know, foundation companies go have a look. But outside of that, from our perspective, that's fairly normal on any house, you end up going under contract on.   Yeah, totally agree with Alex there, we get all the crazy questions to Michael. A lot from this, this Cali investors are coming in even New York people. I'd say like, every time we have a California guy or girl, which we love, y'all, and we've even had a couple of really amazing people come meet me and Alex, here in South Carolina, from the properties that we've helped acquire. So shout out to all those guys, but they're always like, doing the hurricane insurance or like Ardea tornadoes, which is a regular thing to ask the Dow none of that, you know, soccer right, super chill, you know, especially Columbia. We're landlocked, you know, Charleston, definitely, you're gonna have hurricanes. But Greenville, it's good. I think on average is like five inches of snow, which is hit or miss. So very mild climate, and even sort of changing that question of as globally for South Carolina as an outdoor investor, what I would say to make it interesting is like, follow football. It was just about, you know, football, I think is really important to the nature of these different cities. So you know, Clemson University, if you're paying attention to that college, when they were rockin, it created this huge investment opportunity like massive, I cannot express how big the in real estate investment opportunity that was created offset football program. And it's the same thing with the Charlotte Panthers. They're building a brand new practice stadium and Rock Hill, investors are looking at these different data metrics. And even in Columbia, South Carolina with the University of South Carolina's football program is I would just pay attention to those sorts of fun monikers. And that's just another lens to look at an investing and what is important to that specific Geo. And those are just one of the very relatable things here in the South Carolina Market.   Now, that makes total sense. I know one of our other coaches, Tom Schneider, he loves looking at sports teams, and where they're moving and where they're building stadiums, because that's a huge, huge indicator, like you mentioned about like the hotel, big money going into an area. That's great. That's great. I'm curious to know, from your guys's perspectives, what should buyers be aware of how can they be more competitive? And how can they work better with you all and your teams to be competitive and win offers?   Well, so I'll actually say from my perspective, just to kind of give my quick little two cents, because we do see this daily. But our biggest thing is, you know, we've got a team of people that are behind, you know, the whole coordination piece, our number one goal is to get offers out the door at this point is kind of like you got to unfortunately, this isn't like it was two years ago, maybe you can make an offer on a house. And you know, there's only two other offers on it. Now. It's like you make an offer on a house. And now there's about 20 to 30 other other offers on it when you consider in these bigger markets like Columbia, Greenville, and Spartanburg. This is where all the big institutional guys are. And so these big institutional guys are buying in cash, which means you know, if you're buying through financing, it's going to make it very, very difficult to be competitive, especially with a lot of these guys doing, you know, three day diligence, five day diligence, which is something we don't really recommend, mainly because you know, it's very difficult to even get anybody out there and then get a report back. So our biggest thing is and kind of what we we feel like we can control on our end is the amount of offers that actually do go out. So instead of just pinpointing and finding, like, Hey, this is my favorite property, I want to try to win just this one. Our goal is, look, you just got to start, you know, shooting out offers, which is what our team is capable of doing. And then just hope that one sticks in don't get me wrong, obviously, we want the offers to be calculated. But you know, if you kind of get this tunnel vision and try to purchase one house and try to win that one house, you're you're going to be disappointed. There's nothing wrong with just trying to shoot out some offers. That's what our team can do. And all you got to do is just let us know where you go. Obviously go to roofstock and just start clicking on. Hey, I want to make an offer here. I want to make an offer here. But to your point, I mean people are getting over bid. The market right now is kind of unfair just because of these institutional guys. So if there's anything we could at least just give somebody as a takeaway is just make offers. Right now it's a numbers game and hopefully one will stay Pick, but you'll be a lot more likely to stick something than you would if you just try to, you know, kind of become narrow, narrow vision and try to make one offer at a time. It's just going to make it very, very difficult which is with with the way the market is now.   Yeah, makes total sense. Well, sir, I agree. That's perfect. Yes. Awesome. Well, guys, any final thoughts, tips, tricks, tidbits for folks that are listening things you think you want people to be aware of, of South Carolina Market?   You know, I think the, you know, quick sentiment, you know, to leave with you guys out there is, you know, me and Alex have been doing this for quite some time. I know, we're, we're young in blood, but we're old and experience, we're, you know, probably pass or 25th 100, you know, transaction, we've been a part of all these have been investment base. So we're not a residential agent. We're both brokers. So we really have put this as our passion, and our our life loads to support our families. So I think being a resource for you guys, your boots on the ground, providing all of our resources, we do our own flips. And we know the headaches with the flips, you know, we've gone through several, many several Renaud teams, and we've had to create processes and procedures to make sure that we're hitting our numbers and our timelines, and all of that experience, and physical resource, all these teams will be more than happy to open up that toolbox for you guys. Same thing with lenders, you know, dealing with, you know, tons of roofstock, transactions and ELTs. And otherwise, you know, we've pinpointed the best of the best. So, that being said, you know, I'm really, really proud of the team, Alex has helped create, the toolbox that we pieced together, and the family that we met at roofstock. And we want you guys to dig in the toolbox. Come and play. And I think we do it a little different. And that's what makes us stand out. I think, not just selecting property by property like Alex's was saying, Look anywhere look on Craigslist, Zillow, you know, wherever you want to and send us five properties and we don't mind drafting up five offers going out fishing, and if one hits great if several hit, you know, buy them all or pick the best one and we can drop during due diligence. You know, the biggest thing and I will put this star on our chest is we've never lost earnest money in our entire career. And that's because that's pretty impressive. The systems and the communication, you know, that's, that's over 2000 deals we've gone we've never lost it once and I remember Alex was like, Dude, we're never going to because he's, he's come from that consultancy background he has processes and automations to protect you guys and so love to show you these features, talk shop Let's rock and roll and really appreciate everything   Right on. What's the best way for folks to get in touch with you guys?   It's gonna be acquisitions@evernest.co so evernest.co And how I would like to do it is just shoot us an email and the team will set you up a call with me and Alex if you want to just chit chat or if you just want to jump into the rain like email five properties and say hey, I want to run these through the byo P program we Russa heard your podcast It was very strange.   And and we'll hook you up man this is like getting smarter. So that's a you know that's a sale how easy it is and we'd love to show you South Carolina. Another quick thing as you know, me and Alex do this across about probably like 10 states now you know we're from Texas, to Florida and about the southeast coastline. And I still very much like South Carolina and the data shows it has a lot of fruit. So come and join us and let's get financially free   Right on well thank you for taking the time hanging out with me I really appreciate it and can't wait to see we both go from here.   Michael you're the greatest, Pierre back there driving the ship Thank you sir. And to everybody tuning in. Keep catching the next episodes and good luck investment.   Right on, thanks guys. Talk soon.   See ya.   Okay, everyone, that was our episode A big thank you to Matt and Alex for taking the time hanging out with me and giving us all a driving tour of Spartanburg and Greenville. Definitely, definitely two markets that are worth checking out. As always, if you liked the episode, feel free to leave us a rating or review. Those are super helpful for us, and we look forward to seeing in the next one. Happy investing

Chasing Poker Greatness
#211 Tom Schneider: Country Music Crooning Nose Bleed Crusher

Chasing Poker Greatness

Play Episode Listen Later Apr 14, 2022 106:13 Very Popular


Today's guest on CPG, Tom “DonkeyBomber” Schneider, is a man of many talents. Among those talents are singing/songwriting, entrepreneurship, c-suite businessman, writing books, and public speaking.In the world of poker, he's primarily battled in high stakes live cash games over the decades while also dabbling in MTTs & racking up over $2.3 million in lifetime cashes and snagging the WSOP Player of the Year.Simply put: the man's a quintessential high performer and a treasure trove of hilarious poker stories and wisdom.In today's episode with the DonkeyBomber, you're going to learn:- Why believing you're always playing your best has serious consequences in your poker career.- The hilarious story behind Tom's DonkeyBomber nickname.- Why you should trust those bad feelings in your gut in the middle of your poker sessions.- And much, MUCH more!Now, without any further ado, it's my honor and privilege to bring to you a legend in the world of poker… the one and only Tom “DonkeyBomber” Schneider.

The Remote Real Estate Investor
Is it a good time to refinance your property before for rate rise even more?

The Remote Real Estate Investor

Play Episode Listen Later Apr 12, 2022 20:55


With all the current uncertainty in the markets, recent interest rate hikes, and the fed's talk of continuing to hike rates through out the year, the decision to refinance should be made carefully. Why are you trying to refinance? For cash out? To lock in a rate? To take advantage of current rates before they increase even more? In today's episode Emil, Tom and Michael discuss what they think is important to consider before deciding, and Michael shares his recent experience with a lender backing out of a deal.   Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Emil: Hey everyone, welcome back for another episode of the Remote Real Estate Investor. My name is Emil Shour and today I'm joined by my co-hosts…   Tom: Tom Schneider   Michael: and Michael Albaum   Emil: …and on this episode we're going to be diving into refinances. Is it too late as rates are going up, or should you do it now or what's what do we all do it? So let's hop into this episode.   What are we doing with our lives? Hey, guys. Hey, Tom, welcome back.   Tom: Yeah, yes. What's up Emil, what's up, Michael?   Emil: How you doing?   Tom: Excellent, excellent. Hey, but a quick, quick personal note. I was been working in my garage trying waiting to build this little lot of land and I started getting lightheaded and I realized that there is some just kind of like, toxic fumes in my garage. So back in the house, so apologies if you hear some baby noises while we're waiting to build out the exterior office. That's my yeah, I am doing good man, not not lightheaded anymore, so…   Michael: and the baby's not in the garage?   Tom: ….Right Dukes of Hazzard area. Yeah, we switched babies in I mean, it's good young lungs, like they feel. Obviously…     Emil: Did you have the gas company come out and like, report on, what's going on?   Tom: I did, they gotta have to come back again. So they came out, I mean, there's like two like gas entry points into the house. There is like a little further away the house like, like a little gear thing you tighten and then next to the house, there's the meter. They replaced all the meter stuff and I think it helps, but there's still stills of issue. So anyways, don't want to go too deep into that rabbit hole, yeah…   Michael: Never a dull moment with Tom Schneider.   Emil: Alright. Well, I'm glad you are alive, your brain cells are hopefully intact for this episode and yeah, let's get rolling. All right, so we're recording this, it is April 11. Interest rates have been climbing pretty quickly. I think I'm hearing four and a half 5% plus, when we were in like, you know, I got to 2.8 on my primary back in November, so four or five months, pretty crazy how quickly rates have gone up? And Michael, I think you have some pretty interesting going on you were in the middle of a refi currently. And give, I'm not gonna put words in your mouth. Go ahead, tell us tell us what's going on.   Michael: So not even in the middle of a refi, I was at the end of it, I was supposed to close today and the lender calls me he goes, hey, Michael, we're not going to be able to do this loan. I'm like, what do you mean, we're not gonna be able to do this loan, he goes, yeah, at the rate that we locked you out, we're, we're not going to be able to do it and so basically just give everyone a little bit of context. I started this investigation like three months ago into getting 30 year fixed mortgages for multifamily commercial property. So five units and up, and I found a lender that would do it and I was making them compete against other lenders at a bunch of different quotes and I found one and they were like, We can beat it, we can do it 4.275 for a 30 year fixed on a commercial multifamily loan directly to my LLC, load docs, they just needed my property specific information how the property performs like a DSCR loan. So we're getting all the paperwork done, I paid for the appraisal, several $1,000 for each property and then my loan processor, like just stops returning my phone calls and emails. I was like, that's weird and we're getting up to the point of closing. So I got a hold of, I called I called his line, and somebody else answered and I said, hey, I'm trying to reach this person. They said, oh, they're no longer with the company. But this other person is handling all of your stuff now and I said, okay, I mean, that happens, turnover happens and this new person who's handling my, my, my files, sends me this email, she's like, hey, I need all these things from you. I'm like, I already sent those to your company months ago, the original person had that, like, do you not have access to my file and went back and forth and back and forth and I got them all these docs, and then they go, oh, we're gonna have to close on Monday, otherwise, your rate will expire and I said, okay, great I'm ready, let's do it and today, Monday, he calls me and says, hey, we can't do this loan. And what I'm pretty sure happened is they just realized that I got too good of a deal, and they can lend that money elsewhere and get a higher interest rate for it and I still have not heard back from them as to why I haven't got a direct specific answer. But as soon as I do, I'm going to be naming and shaming these people all over the place because I posted about it on Twitter and seeing if there's any kind of recourse and be like, yeah, I've been hearing this happening more and more of lenders just dealing with bad PR, rather than taking the loss on their, to their pocketbook.   Tom: What does a rate lock mean, if that doesn't allow you to like lock your rate, right?   Michael: That's a great question and so what a lot of people online have been saying is that, oh, if the rate lock expires, then then the rate lock is no longer valid and which I totally get. But the question that still I'm having is, well, what if a lender is just dragging their feet intentionally to drag out the rate lock to expire? So that they can say up great lock inspired, sorry. And so they recorded they said, well, we can re quote you at today's rate and I said, great, do that and they said, oh, it's at six and a quarter. I'm like, so 2% greater than what I locked it in and I did this three months ago, because I knew that rate hikes were coming, everyone was talking about it and I said great let me just lock this in, set it and forget and be done with it. So it's pretty infuriating, so everyone, stay tuned, I will keep you all posted, how it how it shakes out, but I have yet to hear a get a call back from these folks explaining themselves.   Emil: I wonder if this is like a you said it's a commercial loan product. It's a portfolio loan, right? Like it's a loan they're doing themselves. It's not like government backed or anything from I wonder if there's like different rules, you know, if you're going to get your traditional conventional 30 year fixed rate, Fannie, Freddie, like, is that would that have gone through versus like a portfolio? And like you said, they're like, why would we? Why would we put this money out there for 2%? Less than we can get it today or two to 200 basis points, not 2%. But you know what I mean?   Michael: Yeah, no, I gotcha gotcha. Yeah, I don't know and that's the one of the questions that I have out to the Twitter versus Hey, what kind of rules and regulations are these companies governed and bound by and how do we hold them accountable? Because I think for the government back stuff, it is a little bit more clear cut, I would expect this less to happen in that space. But it seems like the commercial world, the private lending world is just a bit more unregulated and so I'm wondering if that just might be the cost of doing business because of that lack of regulation.   Tom: Like they're, you're, you're done with, like, their lifetime value of you have a customer is gone. You know, I don't know, like, I think that like, could be kind of short sighted. You know, there's funny, these different vendors where there's like perverse incentives, you know, like for this example, like them just kind of like waiting out the clock, because they see the interest rates going up. There's a couple other incidents, other scenarios where vendors that you rely on could have like, bad incentives, you know, like for literally, property managers that get paid on work orders, you know, they're making more money on work orders, they're gonna be loved to be performing work orders. So I guess this speaks to that whole, like, trust and having a, like, a good partner that you're working with, but and Michael as yeah, that's a that's a bummer like, what a huge jump.   Michael: Oh, my God, it's yeah, it's so incredibly frustrating and like, I had so many big plans for this money, too. So it's just been a bit of a whirlwind of a day. But in speaking to, like, the question, and the topic for today, I don't want this whole episode of your woe is me session, my therapy session, you guys can build me later. I hope you take insurance but um, I think it's really important for everyone looking at their portfolios now, or looking at their properties now to determine and kind of ask themselves the same question of hey, does it make sense to refinance right now and for me, it made total sense when I locked it in three months ago, I was paying a little bit higher interest than the current mortgage that I had on the property, but it was going to be a longer amortization period, at 30 years over the 25 years that I that I currently had on the product and then it was going to be fixed also for 30 years. So it wasn't gonna have to go refinance in five years or 10 years, like I will, with the current properties of it, the current mortgages that I have on these properties, and one of them is coming due, I think, next year, or in 2024 and so I said, you know what, I can lock in the rate for 30 years, I know what it's going to be, there might be times when my rates a little bit higher than what the current market is.   But my guess is that for the most part, it's going to be less than the average interest rate that we find ourselves in over the course of the next 30 years. So let me just lock it in and I'm sure I'll be stoked today at 6% and a quarter percent, I can't say that with as with as significant with as much confidence and so for everyone out there listening if your rate is less than what you're going to be refi into think long and hard about giving that up. But also, if you're going to be taking I mean, there's two ways to refi right, there's the cash out refi and then there's just a rate and term refi. For your rate and term refi, if you're going to refi into a higher interest rate now might not be a great time to do it. But what are your guys thoughts about like the cash out piece of this?   Emil: I mean, look, if you bought a long time ago, maybe you've put some money into the property, you fix it up, your cash flow is nicer and you're sitting on an opportunity to pull some cash out and still cashflow, that's something you should still consider. I don't think it's like, okay, rates have jumped 2% now, it's a definite no, it's just, it's like we always talked about, you gotta run the numbers, see if you're still cash line, right? Don't don't make it negative cashflow I in in my eyes and yeah, make that make that call for yourself.   Tom: I'd say, you know, you, obviously you do have like tons of equity and like you have a plan on what to do with that equity if you were to convert it into a cash out finance, that makes sense. I think in, in some markets, with interest rates going up, you would expect a little bit of a reflection in pricing to go down potentially, I don't know, it's hard to say because there's a there is a good amount of demand, I would say it's more likely to be in like secondary and tertiary markets where you have a property with a lot of equity, cash out, refi, get that in your back pocket, there could be some opportunistic acquisition opportunities with interest rates going up, I would say with like primary cities, you know, like really big ones, Dallas and whatnot, since a lot of the maybe institutional investors out there are not going to be, you know, have too much moving within their debt structures. But I'd say in some of the secondary and tertiary markets, there could be a bigger impact on rates going up, and potentially prices going down. Like I don't know, you would you would assume that right, I don't know that, that's my 10 cents, Michael, and Emil thoughts on that take.   Michael: I mean, I think that makes sense. But I'm wondering, too, if we can kind of try to think like two steps ahead and is there an instance or a scenario where it makes sense to take out cash via cash out refi, because you know, what the rate is today, and you have equity in the property, knowing full well that you don't have a plan for it in the immediate future. But you are opportunistic, you foresee an opportunistic environment and so you're just going to kind of sit on it and see what happens versus doing nothing and then you might see that equity actually evaporate from the property.   Emil: It's good point, right? If rates are going up, right, I just before we hit record, I just threw my loan into a calculator, right that our primary, looking at that 200 basis points difference and it's, it's huge, like, I don't know, if we would have bought it like it's over $1,000 difference, you know, and so it's like, it's big. so, you know, you can't have rates keep going up payments keep going up and like, we have the same kind of crazy appreciation. I don't think I'm not looking into a crystal ball. But yeah, so that that is a good point, right? If you think okay, rates are gonna go up, rates are going up, it's going to keep putting pressure and like prices need to come down, then yeah, that could be a great time to cash out refi, hold some cash, then buy when there's a little bit more opportunity down the road.   Michael: Yeah, and that's, it's not something that I've thought about in the past. I've always kind of said, especially as in, in coaching with folks and Roofstock Academy is like, yeah, cash refunds are great if you have a plan for that money in the next 612, nine months. Or even just know what the money is going to be used for versus getting a HELOC could be a better use of funds and time if you're not sure what you're gonna be using the money for. But now, with rates going up so fast, I might I think I'm changing my tune a little bit and saying, yeah, maybe, you know, even the fact like we were joking about Emil last episode that having your money in the bank, it loses 7% in value every year, maybe that 7% hit is more valuable than or should be is is less impactful than the future opportunity down the road. Because if prices dropped 10 or 15% I'll pay that 7% to have money sitting in the bank all day long to be able to jump on something for 10 to 15% discount.   So I think you're right it is super tough to know what to do. But I'm of the opinion that if you can lock in something today and you know what the payment is for the life of the loan or for the next foreseeable future that has a significant value to it and having cash in hand we know what the value is today and we don't know where rates are gonna go and so if it turns out that rates go down in a year from now okay, will you do a rate and term refi and take advantage of lower rates then get your cash out now and arm yourself. I don't know I think that I think that makes sense for a lot of people.     Tom: So I've got a little question for you guys, I'd love your guys's feedback. So with my primary refi you know maybe a year ago also took out a HELOC use that HELOC to improve the value of my house…   Michael: But not the gas line apparently?   Tom: No, my the gas line is fine. It's it's more like it's a garage and it's moldy. Like don't worry yeah don't worry things are okay.   Emil: Gas lines are not value add by that.   Tom: I meant to say this the beginning. They do it for free, you they have a number you call they send person out there just because like massive liability if there is issues with the gas line, but my question for you guys is so I have a HELOC on the primary, did some improvements and my strategy was originally just to refinance again and then put that HELOC at into the primary, but with rates going up right now, does that make sense like I, you know, have a good sized amount of cash on that HELOC or a debt on the HELOC. Do I just eat it and roll that into a refi or because, you know, assuming rates continue to go up like that HELOC payment is gonna become more and more.   Michael: Yeah. How have you seen your HELOC interest rate creep up in the last couple of months in lockstep with with like traditional mortgage rates?   Tom: Um, I assume it would be sensitive to it just in that HELOC, you know, is not fixed debt and that it's moving. I haven't I haven't looked at it in a minute but that was always part of the plan was to roll that in.   Michael: Do you know how big of a difference? Your interest rate would be from your current primary mortgage to what your new one would be?   Tom: It's a very good question, it's very good question. These are all good, good action items to go out.   Michael: Tom always finds a way to get just personal advice and…   Tom: Self-serving all the time..   Emil: Free coaching on…   Michael: That's it on the fly. Gee, man, you're you're smarter than the average bear. I think that what would be that is one thing I would want to know is what's the new rate?   Tom: You lock your new interest rate right now is 2.49. So not going to do better than that. But you know, and…   Michael: That hasn't moved in last couple of months…   Tom: Hasn't moved in the last couple of months, no.   Michael: Yeah, so I was saying… Tom, you turned me on to that lender and I actually got a HELOC from them too and it's amazing. Yeah, I would, I would try to get some clarity around. If you did roll this all in what would be your new primary interest rate?   Tom: I like it.   Michael: Because you gotta remember even if the rate blows up on the HELOC call it 567 percent. It's interest only, versus the fully amortized principal and interest payment you'd be making on that additional debt and so I would, I would look to figure out okay, where's my breakeven point, you know, at what rate can I afford to pay fully amortized principal and interest versus just interest only because interest only it's gonna fluctuate up and down versus the P&I, that's for the life of the loan.   Tom: Yep, that makes sense, Michael, it's good, good feedback, sself-serving.   Michael: And then I just on top of that, to also think about the cost of doing that refinance. There's several $1,000 associated with it and so if that's what you have to eat in terms of your additional interest payments on the HELOC, but you still have a better rate than then you would, that that in my mind, make means pay the extra interest, just eat it.       Emil: Michael, I should have asked you this before we left the conversation of your refi changing. Are you gonna go through with it? That's the big question, right?   Michael: No, I'm not because here's the here's one of the problems is like right now, I'm at three and a quarter percent interest on 10 year fixed with a 25 year amortization and I'm like, three, three years into those loans. So they haven't a long lifecycle still left, I would much rather be on 30 year fixed and at four and a quarter, I'm happy to pay the additional percentage point on interest, just for that fixed and additional cash out. So the thing of it is, it's almost like, and the payment on that was going to be a little bit bigger than my current one, even though the interest rate is higher, but I was getting a ton of cash, but it's over a longer amortization. So it all kind of smoothed itself out in the end. So I was essentially getting some free money. So yeah, it's just infuriating beyond belief. So stay tuned, I'll keep y'all posted how it shakes out.   Emil: Got it? Yeah, I just wanted to, I don't think we close the loop on that. I wanted to know, like, are you still moving?   Michael: These people will be getting zero of my dollars ever and I will encourage everyone I know or ever will know, to not use these people if they don't make it right.   Emil: But okay, let's say you go get the same six and a quarter whatever from some other lender, who is not a monster and screws you over like that. Would you do that?   Michael: No, no, no. I mean, the rate the rate at that level just doesn't make sense from a cash flow perspective and that's why I was so excited about this long as I locked it in when it totally made sense.   Tom: So not just a spike decision.   Michael: It's like yeah, yeah, it's it's a financial one like he just financial this doesn't make sense. It doesn't make sense. So and that's something that people really need to be thinking about is kind of like we were mentioning Tom with your loan is the cost of the loan. If you're gonna go do a refinance, there was money involved to physically do that. Some lenders will wrap the closing costs in so you pay it, you know, paid up front, but you pay it over for the loan, and so just be factoring all this stuff in and also be factoring and like what could you do with the proceeds, if you already want to cash out refi? What kind of return could you get on that money if you want to inspect it elsewhere? Because that can often make the interest rate a little bit easier to swallow if it is high. Yeah, you might pay in 6% but you can go back eight, nine 10% on that money somewhere else. I think it's important to to find out and take it from me what the track record is of your lender if you are going to be refunding research them online, do your homework, find out if they can actually close the loan because anyone can say anything, but until they fund that loan and it closes it's all just hearsay apparently, I'm so bitter God, this coming out terribly.   Emil: It will probably be hard to vet this one because like, you know, we've been in a really low rate environment for years. So no one else has probably experienced this. I'm sure there's other people who are trying to get a loan from them who are now going through just like you, but you probably wouldn't have found any of those online because you know, rates have been low for a long time and everyone was just scooping up reefer.   Michael: Right, right and they had like a guy had good reviews online. So I did do my homework. It's just a weird time in the market.   Emil: Yeah, it's just interesting. Another rate lock, at least with like, I don't know, maybe just portfolio lenders it basically mean meaningless.   Michael: It's meaningless until they unless they decided mean something…   Tom: Rustproofing on your offer.   Emil: Yeah, well, maybe that's maybe that's the takeaway for our listeners is like, if you're going out buying refiling whatever. Find out about your rate lock, like, you know, see if it really is like for 30 days, or you or however long you are 100% guaranteed that rate or can the lender opt out of it or how does it work? So good question, ask your lender.   Michael: Yeah, tell them you heard a horror story on this podcast you just started listening to and say I don't want this to happen to me.   Emil: And with that, we bid you all fair do, fairly well, fairly well, fair do.   Michael: A fortnight fair do.     Emil: Farewell, all right, so I guess that's probably a good place for us to end this episode. Thank you guys. As always, Michael, thanks for giving us a little deep dive into your paper cut flesh wound.   Michael: Oh, dude this feels like a full digit got sawed off isn't just a paper cut. Lost the whole thing.   Emil: Hopefully, hopefully the story ends out ends up well for you.   Alright everyone, we will catch you out on the next episode. Happy investing.   Michael: Happy investing.

ISACA Podcast
Making Sure that Cybersecurity is Literally Everyone's Job

ISACA Podcast

Play Episode Listen Later Mar 8, 2022 21:29


Join ISACA's Performance Based Training Engineer, Collin Beder as he speaks with Tom Schneider, Senior Associate of Proactive Advisory for Cyber Defense Labs as they discuss Tom's recently released article “Ensuring that Cybersecurity is Everyone's Job”.  Employees expect to focus on the responsibilities that are communicated to them, for example in their job descriptions. If cybersecurity and privacy responsibilities are not documented in job descriptions, then it is likely that staff will assume that cybersecurity is not a primary responsibility for them because management did not consider it significant enough to include. Collin and Tom will delve into these topics and why keeping cybersecurity on everyone's mind will be better in the long run. To read Tom's  full article, please check out https://www.isaca.org/resources/isaca-journal/issues/2022/volume-2/ensuring-that-cybersecurity-is-everyones-job We would love to hear from you, please leave your comments below. If you enjoyed this episode, please click the like and subscribe buttons for more from ISACA!

The Remote Real Estate Investor
6 Investment mistakes we will never make again

The Remote Real Estate Investor

Play Episode Listen Later Feb 19, 2022 21:42


In real estate, small mistakes can make or break your deal. One slight oversight and your yearly cash flow can be wiped clean. For new and seasoned investors alike it is important to hear where others have messed up so that we can learn their lessons without suffering their pain.    In this episode, Tom Schneider is back with Emil and Michael to share their biggest real estate mistakes, ones that hurt so bad they'll never make them again. Episode Links: https://www.roofstockacademy.com --- Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Tom: Greetings and welcome to the Remote Real Estate Investor. My name is Tom Schneider and I am joined by…   Emil: Emil Shour.   Michael: and Michael Albaum.   Tom: And today we got a fun topic. We're going to be talking about the six mistakes you'll never make again. Let's get into it.   I heard of a great question to ask people. You know, when you're trying to not try to understand how they're doing, you know, without leading the witness, what's on your mind?   Michael: Uhh, uhh…   Emil: Uh, uh, I have…   Tom: What's on your mind, Michael?   Michael: Ehmm…What's on my mind is got a lot of balls in the air, which I feel like is a standard thing that I've been saying over the last two years, so just got a couple refires in the works, got my rental unit upstairs for a new primary that were house hacking, going to be getting tented here shortly. So just making sure all the cookie crumbles are getting baked into cookie properly. If that's the same…   We're putting it back together and putting Humpty Dumpty back together, man.   Tom: Why not, why not? How about Emil, what's on your mind?     Emil: Oh, man. I was chatting with Michael this morning, actually. We have a weekly calls just talking about what's going on. And I was chatting with him about this person that I've been wanting to hire, the position I've wanted to hire but I keep putting it off. And I'm not sure if right now is the right time in the business to hire this person. And I just keep… I talked to other people who run businesses and they kind of keep nudging me to do it even before I'm ready. So that's been the biggest thing on my mind. So this week, I'm going to start putting together, documenting some processes and putting a job ad out there to at least have some conversations and hopefully find this, this unicorn of a person I'm looking for.   Michael: In the words of The Waterboy: You can do it!   Emil: If you're, if you're a content marketer, and you like creating briefs for writers and editing content, please, please reach out to me. I would love to chat with you. Free plug, thank you!   Michael: At eshour@gmail?   Emil: Emilshour@gmail. Yeah!   Michael: Sweet. Tom, what's on your mind my friend?   Tom: I love that question. It's just kind of you know, cuts a little deeper. So got a baby, I got like a three week old baby so not sleeping in longer since then, like two or three hours. But to be fair, the first baby was… I was it was much worse, worse than that, I don't know what the right word is it… Anyways, so got a very good three week old baby but still a three week old baby. Besides that just yeah. Yeah, doing it. I wish I'd taken a longer paternity leave. I think I kind of blew it on that front in the retrospect but who knows if there's a third one, I'm going to take a good two months off because that is special time, so that's what's on my mind, cruising along. Let's…anything else, guys? Anything else in your mind before we get into the topic today?   Michael: No, it's super exciting to hear, everyone's happy and healthy.   Tom: Everyone's happy and healthy, that's right. All right. So this is the six mistakes you'll never make again. I love this topic. And I think some of the oddly the best way to learn about real estate is just not learning about other people's mistakes and not making them. So a really juicy helpful topic and to start today's discussion on the way we're going to divide this is we're each going to take two and Emil, you're going to go first what is a mistake? We'll do a snaking order here so Emil what is a mistake that you'll never make again?   Emil: In my life or are we talking about real estate investing?   Tom: This is the Remote Real Estate Investor. But you know what? Let's not put boundaries. Let's live in the open space, right, so you can take this in any direction you want Emil.   Emil: Oh geez. Alright, let's go back to when I was five years old the first mistake I ever made   Tom: It's a long time without making a mistake.   Emil: I know for… it well the first one I remember who knows all the other ones. Okay, first one I have is buying the cheapest properties. So this was something when I think, I bought my first property I looked at, you know, I was going for the cheapest to maximize Excel cash flow and something you realize after a while or not even to maximize cashflow, Excel cashflow, maximize Excel returns, right, cash… cash on cash. And we don't realize after a while, until after a while you've been investing is that you know, 50 or $100 difference in those slim cash flow margins completely throw off your returns. So right, let's say you're looking at trying to hit a 10% cash on cash return, and you end up buying, you know, I'll throw out a property I bought years ago for $60,000 in Memphis, right… If if there was a variance one month of 50, or $100, that destroys your, your cash on cash, it completely changed the numbers like anyone who's listening to this and runs their numbers, change your projections by like, throwing extra expensive 25 or $50 a month, just small things right, on cheap properties. They, they make such a big difference in the percentages, both ways, right? So something I didn't appreciate, for a long time was actually like nominal cash flow, not just percentages,   Michael: Totally!   Tom: Get the rosy glasses off, take them off.   Michael: How long into owning that property. Did you realize like: Oh,oh…?   Emil: It was at the turn, honestly, it was like, oh, okay, like, I mean, the turns always ruin everything. But you really see how much of a variance like, again, even $100, or like, I guess that's on a monthly like $1,000 expense, one time a year just crushes these, these cheaper properties on like a percentage basis. They can be good investments, but it's like, you got, you got to like play around with the numbers to see even a small variance from your numbers like, changes the percentages a lot.   Michael: Yeah. I love that quote. And yeah, Emil Shour, February 14 2022, the turns always ruin everything.   Emil: Turns are the worst man…   Michael: Yeah…   Emil: …just keep people in here.   Tom: Have a lot of first time investors. It's like, just getting so excited of that, you know, $50,000 investments, are you kidding me? You know, such great returns. But yeah, hammered on that. Michael, what is the mistake you'll never make again?   Michael: A mistake that I'll never make again, is rushing and kind of pressuring my property manager into accepting a tenant that they don't feel really great about. That was on my very first property ever, I talked a lot about it, ended up doing tons of damage on the property and it's just a total headache. And I was so concerned because now here I have this mortgage payment and this property that has expenses associated with it and no tenant in place. And I was like, we gotta get some money, we gotta get some, we gotta get someone in. And so against her better judgment, she capitulated and said, okay, and it was the worst tenant that I've ever had. And that she may have ever had, too. I think she told me that once like, yeah, I remember that tenant, that was the worst tenant I had ever, too.   So just like, take your time and be calculated and try to be level headed with stuff because that was a very emotional decision. I had a job at the time, like a really strong paying W-two, I could afford a couple of months of vacancy, I could afford like several months of vacancy, thankfully, but I was just so kind of like a meal looking at that return, oh my God, my returns gonna get shattered. And so didn't listen to my gut, or my property manager and really ended up paying out the nose for it, for a long time, for a very very long time…   Tom: …capitulated, that's the word…   Michael: …that's the word of the day?   Tom: That's word of the day. I love it… I think there's, you know, there's like long term decisions and like selecting who is living in your property. Hopefully, it's a long term decision. And one of those things where, you know, you could feel the pressure boiling every month that passes if it's not occupied, but man so much more expensive to refill that that with a bad tenant.   Michael: Yes. Yeah, totally. Totally. Alright…   Emil: Sounds along the theme of turn suck as well.   Michael: Yeah, exactly. To turn through and everything.   Tom: I'm gonna go along a similar theme as my goal. So a mistake that I'll never make, again, is not getting into the details of my property management agreement. So usually, with like terms and conditions like, oh, cool, new phone. Oh, except this. Oh, there's 270 pages of…   Michael: Except of…   Emil: Yeah, apples made us very good at that.   Tom: Yeah. And with a property manager, there are reasons that you might want to not just accept all! So the mistake that I made: I had a property in Florida, bought it, it, it was it was good. It was occupied. I had a turn that come up, turns up, the turn the price to do the turn was kind of expensive, and it had appreciated just Mamet's that's not a good use of language. I got to think like Michael, what would Michael say, not capitulated? What would be what's a lot, a lot of appreciation…   Michael: That's a technical term…   Tom: …a crap ton of appreciation. So I decided to sell the property, you know, this is one of the awesome things about real estate You can you can make moves like this fed right into a 1031. And it was like a, like a stock split, I ended up getting two properties from that one. And at the point I sold it, my property manager, they, you know, had some escrow funds that I had left in there from just in between tenants and you know, as maintenance or whatever, come up, and I emailed them, like, hey, send me give me my money, you know, on this property more, and they're like, oh, no, this is the breakup fee. And I'm like, what? The breakup fee? Are you kidding me? So this memo, jam is bad mamma jamma date, they had a little line in their fee structure where if I sold the property, they had to retain management, or charge me like a month or two of rent and that is a mistake, that I'll never make, again, not reading the property management, like, basically, what's all the other…What's all the ways that you can make money? What's all the different ways that you can take money from me and one of them was selling? So that's a mistake that I will not make again.   Alright, guys…   Michael: Have you come across that language in any other pm agreements? Since now, you're on your radar?   Tom: Ah no, I haven't. And that's like, something I will explicitly ask for is like is, you know, more or less like, what's all the different ways you can make money? And usually there's a section within the pm agreement of like breakup fees, you know, how do they charge for maintenance? How do they charge on rent? And, you know, it'd be a fun episode. I've seen more property managers charge a flat rate versus a percentage rent. Future episode idea, future episode idea, yeah, is a ruminating?   Emil: Are you ready for the TLDR? Don't do it!   Tom: Don't do it. Okay. Alright, that's mine. This is not going to be a traditional steak draft, we're going to go right back to the top of the order with a meal. I mean, what's the number four thing what's a mistake that you'll never make again?   Emil: So this was a mistake I made on my most recent property. And it is what I call or actually, it's not what I call, it's what I heard Michael Zuber call a B-property. So he, he classifies three types of properties, he has the A, B and C. A is turnkey, good to go, you don't have to do anything, lift a finger, it's nicely renovated, or it's in good condition, you're good to go. I see properties on the other end of the spectrum, you know, probably needs a partial got rehab, or a full gut rehab, you know, you have to do a lot of work, but you're getting a good deal. You just have to put in that the time and energy and the extra money, though, to make it look nice. The B property is the in between, it's a property where it's a maybe the rent is a little under market, but you know, at the turn, you're gonna have to maybe replace the cabinets or some tile in the shower, you know, like a bunch of little things, little not little things like several cosmetic things, they add up so much more quickly than you think. And they aren't usually sold at that much of a discount these B-properties from what I found. So I bought this triplex. It wasn't like up, when I bought it, it wasn't like a premium price tag. But it wasn't, it wasn't a great, amazing steal of a deal either, right. But in my head, I kind of just looked at things and I was like, oh, this will probably take like $5,000 total, maybe, maybe 10,000 to fix up… Long story short, it was more like 25-30,000 to get it all fixed up. And I don't know, I think these B properties are just like, they're not the way I think it's either you buy the thing that's, that's good to go the A or the C where you're putting in the energy and you're getting an awesome deal. So I do not like the B properties anymore.   Tom: It's funny when we do these episodes, I try to guess like, in my head what you guys are gonna do and that's a good one. I did that did not come into my mind is like a potential one. And yeah, you could think with the little the little nicks and dents, you're able to catch a catch a deal, but it's like, yeah, go go in the deep end or go in the baby pool, I like that.   Emil: Yeah, that's my experience, I don't know. Other people may say, no, those properties are great for me, but just my personal experience. I won't, I won't go for those anymore.   Tom: Yeah, I've probably done like, the majority of my deals have been more like, the ish-range and it hasn't like, you know, caught me caught me too bad. I mean, I had some terms that were like pretty ugly, where I bought occupied and then…   Michael: And then surprise…   Emil: I guess the question is, did you go in knowing, like your estimate for what it would require to fix? Was it on par with what it actually cost?   Tom: No, it was it was more expensive. I think it wasn't as dramatic as your use case going from, was it like 500% over like, you know, from 5000 to 25,000. Yeah…   Emil: Yeah, yeah, like four or five tax of that…   Tom: But I don't know. I think that's an interesting way to think about it have like, you know, either go go in and go home.       Emil: It's because there's, there's a lot of like these little things that you're like, oh, we might as well just replace it now or make it nice for next time right, like carpet that could go another round with a tenant or just whatever get, get vinyl in there now or something, you know, it just like, I think with these, it's like, you're gonna end up replacing a lot of things anyway, when you do a turn on, like these properties that are like so, so and they have a lot of things that are like halfway or towards the end of their life. I don't know, that was my experience…   Michael: Okay, yeah. And I think kind of to your point Emil, if this ended in a property and all that work had been done already, you may have paid additional 30-35,000 for the property, I'm not sure. But you also would have been able to finance that as opposed to coming out of pocket. So when you look at your return metric, it still would have been better, even though you're in it for the same amount of money.   Emil: Exactly.   Tom: Great point, Michael. All right. Number five, on the mistakes you'll never make again.   Michael: And the mistakes I'll never make again, I will never ever, ever, ever get caught in a loan with a hefty prepayment penalty without negotiating it down. So I was working on this massive redevelopment project that I've talked a lot about on the podcast. I was leaving my job at the same time as I was looking to acquire that construction loan for it and I found a bank that would give it to me. And I was just like, so focused on getting the deal done and they're like, yeah, this is a prepayment penalty. I'm like, yeah, whatever, like, I don't care and now I'm on the back end of that. I'm just like, God, this is killing me. I want to refinance so badly. But I'm stuck in this loan, because the prepayment basically makes it cost prohibitive to refinance out of it. And so I am just kicking myself because it's expensive, and I can't stand the lender. So like, there are just so many reasons for me to want to leave. But I am stuck…   Tom: Terms baby T's and C's…   Michael: T's and C's, T's and C's…   Emil: It's funny that the people who have these additional fees and things later on, right, like your prepayment, Tom mentioned, like a property manager who, who has like fees when you sell. They always end up being people you don't like love as much and you're like, it's almost like they've added these things because they churn through so many people or something I don't know…   Michael: They know they suck and they're like, oh, we got to keep our hooks in these people versus the good ones. They're like, yeah, we don't need it, like you will stay…   Emil: They trust their services…   Michael: Yeah, yeah.   Tom: Culture, bad culture. Got to… got to seek out good culture vendors.   Michael: Yep. Yeah. So look at what the pain is, and anyone listening out there that finds a prepayment in their loan, it's negotiable. Like that's a term you can negotiate. I think everything's negotiable. So definitely add that one to your list of things to look out for, and things to push back hard on.   Tom: Alright, all round us out here with the final mistake you'll never make again. And this one is a close friend of mine who got involved in real estate. He bought, bought a… bought a property, bought a rental property, and it was doing pretty good. And he got to a point where he needed the money back. So it was like kind of a speed thing to get the money back. And so he listed his property to sell. He got a buyer, the buyer made some, like outrageous claims about, you know, oh, the roof, that's like, you know, $15,000 in like the house was the house was fine. Like, it was like a reasonably hot market too. But I, I guess this mistake is like not talking to my friend or I don't know, if this is more like, it kills me. But he ended up like accepting this lowball, you know, funds off the sale price. And he sold this house and it's like, man, especially at the point where you're at the exit like everyone, you know, those that big chunk of money, like, that's just gone, that's just like money just disappearing. So I guess a couple of mistakes and lessons like on the acquisition side, you know, why not, me, you know, make those kind of requests unless you're, you know, at risk to lose the deal. And on the sale side, you know, don't ever get yourself in a position where you have to sell quickly, like have the right reserves or whatever else is going on in your life. Because that's just, you know, hard money coming, coming out, you know.   I'd say the other thing is, you know, people should just list their listings a little bit longer than they think they should, you know, leave it for sale. I think it was in blink or one of those Malcolm Gladwell, there was like a survey on real estate brokers that they list their properties longer because they like know, they get it like more eyeballs, the you know, the incremental increases in potential income by more eyeballs on it. So a wide variety of a spectrum of… I don't know from that experience that I'll share is the final mistake. But I think the big thing is if you can like don't put yourself in a position where you gotta, you gotta sell and if somebody makes a ridiculous offer back at you, be okay with walking away from the deal. So a cornucopia of things with that.   Michael: That's a really good one, man. That's a really good one.   Tom: Yeah. Brutal. All right, so I think that's it. Anything else you guys want to, want to cover today?   Michael: No, I think that was all, that was on my mind.   Tom: Yeah, it's on your mind. That's… the way to open questions. What's on your mind? It's like…   Michael: I like that.   Tom: It's sincere right? And it's… you can't, you can't give a cheap little answer to that. You know say,   Michael: Oh, yeah, good. Good. Oh, fine.   Tom: Yeah, nothing. Oh, that's what's on your mind?   Michael: You damn liar…   Emil: You couldn't get a really weird answer, like the turkey sandwich, I ate for lunch.   Michael: Yeah, but think about how interesting that is like, oh, you got cranberry sauce in that bad boy. Are we talking avocado sprouts. What kind of turkey sandwich we're talking?   Emil: Yeah, it does at least get some small talk going.   Michael: Yeah…     Tom: In my experience, it's a little more sincere. You know, it's kind of coming…   Michael: It was less rehearsed. I like it.   Tom: Alright, that's the six mistakes you'll never make again. Thank you for listening. If you enjoyed our episode, please share it, please like it, please subscribe. We got a YouTube channel as well and as always: Happy investing.   Michael: Happy investing.   Emil: Happy investing.

Byers & Co. Interviews
Tanya Andricks of Crossing Healthcare- December 29, 2021

Byers & Co. Interviews

Play Episode Listen Later Dec 29, 2021 11:52


December 29, 2021- Tanya Andricks of Crossing Healthcare joined Byers & Co to talk to guest host Kevin Breheny about the impact of mental health when it comes to people committing crimes. Tom Schneider, Howard Buffett, & Jim Getz stayed on to talk about the need for mental health assistance in law enforcement. See omnystudio.com/listener for privacy information.

Byers & Co. Interviews
Tom Schneider, Howard Buffett, Jim Getz - December 29, 2021

Byers & Co. Interviews

Play Episode Listen Later Dec 29, 2021 36:19


December 29, 2021- Former sheriffs, Tom Schneider & Howard Buffett, and former Chief of the Decatur Police Department, joined Byers & Co to talk to guest host Kevin Breheny about their careers in law enforcement, the need for the silent majority to speak up in support of police, and the murder of Officer Chris Oberheim. See omnystudio.com/listener for privacy information.

The Western Huntsman Podcast
88. Hunting Wolves with Tom Schneider

The Western Huntsman Podcast

Play Episode Listen Later Dec 1, 2021 122:11


Tom Schneider from Stuck N The Rut joins me this week to discuss how he has mastered hunting wolves, and how you can too! This is a favorite topic of mine, Tom is an expert wolf hunter as well as an all around western hunter that we can all learn from. He has dedicated much of his season to pursuing wolves to do his part in wolf management. Wolves are way above the management population objectives in Idaho and Montana, and less than 1% of wolf hunters actually succeed. Tom wants to change this. As a Native Idahoan, he has seen the negative impacts wolves have created to our moose, elk, and mule deer.  We discuss Tom's history with hunting, his family's platform Stuck N The Rut, why he became interested in hunting wolves, how he learned to be a successful wolf hunter, and his new online course available; Wolf Hunting Master Class. We also discuss his Mule Deer Master Class, both courses are available and you can check them out below! Wolf Hunting Master Class Mule Deer Master Class Sponsors and Discounts! SKRE Gear - High octane hunting attire without breaking the bank! https://www.skregear.com/  -Use Promo Code “thewesternhuntsman” for 15% off and free shipping! Phelps Game Calls - The game call company of The Western Huntsman! https://phelpsgamecalls.com/  -Use Promo Code “Huntsman10” for 10% off! Hoffman Boots: - Best hunting boots you'll ever own. I guarantee it! Use promo code “HUNTSMAN10” for 10% off! https://hoffmanboots.com/hoffman-mountain-boots Tactacam -Filming your hunt has never been easier and more affordable! https://www.thewesternhuntsman.com/product-category/gear/ Bait Em 907 -Use promo code “Huntsman10” for 10% off of all bear attractants and other products.  https://www.baitem907.com Check us out on Social Media! jim@thewesternhuntsman.com    

The Remote Real Estate Investor
These are the top 10 cheapest states to buy a house

The Remote Real Estate Investor

Play Episode Listen Later Nov 20, 2021 24:25


As a real estate investor, you want to find properties where your investment dollar will go the furthest. To help you do that, we compiled a list of the top 10 cheapest states to buy a house in America in 2021. We analyzed data from several sources to find the least expensive states and the most affordable cities in each of them. In this episode, Tom, Michael, and Emil run through the top ten states. They highlight important metrics and discuss what this means for investors.  --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Emil: Hey everyone, welcome back for another episode of the remote real estate investor. My name is Emil Shour and today I'm joined by Tom Schneider and Michael Albaum. In today's episode, we're going to be covering the top 10 cheapest states to buy a house in 2021. So this is from an article off the roofstock blog that I wrote a while ago called the top 25 cheapest ways to buy a house in 2021. We're going to run through some of the numbers like median home value, one year price change five year price change and median rent to give you guys an idea of which markets may be good to target or at least do a deeper dive into So let's hop into this episode   Emil: Alright guys, so this is actually a blog post I helped create on the Roofstock blog, and it's covers the top 25 cheapest states to buy a house. We're going to cover the top 10 And just to give everyone some context, the data here is from Zillow for home values and historic price trends. And that is as of June 2021 So that data is a couple months old but still you know relatively easy for people to kind of compare the top 10 We also have the median rent data is coming from go banking rates and the median rent of a three bedroom place and I'm gonna just run through the top 10 But before I do Tom you look like you have something a burning question…   Tom: I do my mouth is like like half open alright a meal in writing this article states a pretty big area you know a big Is there a reason why it wasn't at like a metro just because like it I think of cheapest I mean you know California is a great example you know you can live in a very expensive area or you can live in a very less expensive area.   Emil: Yes   Tom: Curious. Go ahead.   Emil: Great point Tom. i We don't have an article around the best the cheapest cities I think just because there are so many unique city so look at that it would be very hard to compile the data. So we have cheapest states. I think it's just easier to get 52 data points rather than I don't know 1000s   Tom: Fair fair fair. I think there's I think there's I think there's a middle ground in there as well you know between from from city or whatever to state I dig I'm I'm picking you out a little bit I like I like this let's get into it. Let's get into it.   Emil: Tom just ruined the episode and we'll end it here. So thanks, Tom.   Michael: Timeout you said you said 52 So are we talking territories as well like Guam and Puerto Rico?   Emil: I Have not attended a geography class in quite a long time Michael so I don't even know if I'm correct in saying 52 Or if it's 50.   Michael: 50 states.   Emil: 50 states you know what? I'm just I'm done with this episode. guys. You guys take it from here   Michael: Emil's like enough of this so I don't get fired like enough of this. Just trying to help you out.   Emil: I'm doing you guys a favor. How about that? Alright, so let's let's get into this. I'm curious if you guys can get some states in the top 10 If you had to guess. Pick three each you guys…   Tom: Is Mississippi on the list.   Emil: Ding ding ding Tom one for one.   Tom: All right, Michael, your opportunity to take the lead. Do your two guesses…   Michael: Show me Alabama.   Emil: Alabama? Ding ding ding correct as well. All right, one one here.   Tom: Show me Louisiana.   Emil: Louisiana is a not in the top 10   Michael: Ah, man. All right.   Emil: First incorrect answer. Tom. What do you have?   Tom: I got two guesses here. We're tied one to one. Show me Arkansas.   Emil: Arkansas is ding ding ding in the top 10   Tom: All right. No looking at anything on your on your computer. Michael.   Michael: Keep your hands where I can see them   Tom: Show me Oklahoma.   Emil: Oklahoma in the top 10 Ding ding ding Tom is a liar. For three Mike. Michael you can you can take a consolation swing here and at least try to get two out of three. So   Tom: Earn your blue ribbon or purple.   Michael: That's right. That's right.   Tom: The one they give to the kids.   Michael: Show me, Ohio.   Emil: Ohio is in the top Ding ding ding.   Tom: There you go, Michael.   Emil: Alright, so Michael finishes two out of three. Tom three out of three. Stellar. Perfect.   Michael: Wow. That's what Tom's used to hearing.   Emil: Very impressed, guys.   Tom: That's kind of how I operate. I thrive on positive reinforcement. Thank you Emil.   Emil: You're welcome, alright, let's start at the let's, let's work our way backwards. So we'll, we'll start at 10. And then we'll go to number one and   Michael: Are these in order of pricing.   Emil: 10 being the least cheap. Exactly, yeah. So it's by median home value. So the cheapest will be number one in terms of median home value according to Zillow data. Alright, so number 10. We have well let's just keep this going. Thing number 10 is   Tom: Indiana   Emil: Jesus Tom, Have you have you read this article?   Michael: He memorized the last night before bed.   Tom: No, that's it that's great. That's good. I mean Michael said Ohio Michael said Ohio so I just figured you know someone who's kind of friends with Ohio   Emil: Tom you need to go make a lot of bets today because you're on it. So please just go like buy some alt coins and stocks and whatever today go buy a rental property till you can't miss today. Alright, so Indiana number 10 median home value comes in at 185,805. Our one year price change so looking at one year ago compared to today? Well this is as of June 2021 13.2% Five year price change 45.3% In the median rent on a three bedroom place I think this looks at apartment and a house from go bank rates $1,052   Tom: Some some gross yield there.   Emil: All right. So that's that's Indiana. All right, who's number nine Michael you get first shot.   Michael: And it's not one of the ones we've already named?   Emil: It is one of the ones you named?   Michael: Oh, shoot.   Emil: I'll give you one further, it's the one you it's one you named?   Michael: Oh, man. So I got a 50/50 shot. I'm gonna say Ohio.   Emil: Bing bing bang Ohio coming in at number nine. So our median home value in Ohio $181,756. Or one year price change 14.4%. And our five year price change coming at 45.3%. And median rents on that three bedroom place is $1,024.   Tom: A price change is so crazy. I mean, all those numbers   Michae: That's unbelievable.   Emil: Oh, actually, ooh, this this article has the cheapest lists like three or four cheapest cities within these states to buy a place. So I don't know where that was pulled. Exactly. Let me see if I can find it real quick from this article. So from Yahoo, cheapest place. So it was an article called The cheapest places to buy a home in every state. So that's where this looks at. All right, so Tom, maybe we get some of the stuff you're looking for. So I'll backtrack a little Indiana. The cheapest cities to buy a house are Gary Anderson, Muncie and Richmond. And then for Ohio. We have Youngstown, Warren, Dayton and Marion.   Emil: Alright, so number eight. I'll go ahead and just dive right in Kansas comes in at number eight. Our median home value is $176,898. Our one year price change not as high as number 10 or nine coming in at 11.3%. And our five year price change coming in at 33.8%. Our median rent comes in at $1,050 on a three bedroom place. Our cheapest cities within Kansas are Hutchinson Kansas City, Topeka and Salina.   Michael: Topeka, capital of Kansas.   Tom: You guys all invest pretty in that around that area. Do you guys have an exposure to Kansas? Or you're more of Missouri?   Emil: I'm Missouri.   Michael: I've invested in Kansas City, Kansas doing a flip out there so that's almost getting wrapped up?   Emil: Are you in the Kansas side or the Missouri side?   Michael: On the Kansas side? I'm like fairly certain I double check. Which sounds ridiculous as I'm saying those words.   Emil: Alright, moving on to number seven. I think you guys guessed this one as well. I don't remember who said it   Michael: Probably Tom because I mean he's flawless.   Emil: So it's Alabama who said Alabama?   Tom: I was gonna I was gonna say it I missed out I was gonna I was gonna guess that was the one.   Emil: Oh my god this guy is just he can't miss that.   Michael: That was me. That was me. Michael had Alabama. Yeah. With the second of my, one of two. Yeah.   Emil: All right. So Alabama median home value coming in at $170,184. Our one year price change 11.9%. Our five year price change. We have 34.6% and our median rent on a three bedroom place coming in at $1060 Cheaper cities within Alabama to buy a house are Gadsden Birmingham, Montgomery and Phoenix city or Phenix City   Tom: Another market Michael has some exposure to   Michael: Yep, yeah. Birmingham Alabama   Emil: Birmingham. Number six Michael is another place you invest in so go for it. What do you got here? What state   Michael: Oh,   Emil: We already covered Ohio so what else could it be? Other side of Ohio. Oh, other side of where you invest in Ohio,   Michael: Tennessee? Kentucky? Kentucky like South. I guess it kind of like like,   Emil: Yeah, Cincinnati right south of Cincinnati. Yeah. Toki See, I know what I'm talking about.   Michael: Geography is tough man.   Emil: Alright, Kentucky median home value we got $168,998 our one year price changes 10.8% or five year price change. We have 36.3% and our median rent on a three bedroom place comes in at $1,025. Our cheapest cities to buy a house within Kentucky are Hopkinsville Covington. Owensboro. And bowling green.   Michael: Oh, Convington made the list man. Covington that's where I heavily invest. Yeah, it's   awesome.   Tom: Kind of related talking about like, you know, West's of states are directional. There was this. I think it might have started on Tik Tok. This guy's like, he said, he's at a there's like a music playing in the background. He's like, Okay, here's the situation. And they're playing like, West Virginia. Take me home.   Michael: Country Road, right?   Tom: And he's like, here's the situation. This song is not about West Virginia. It's about the western part of Virginia. And that, like, closes and then opens them just like super hungover the next day. It's like, is there something like that's just like, so perfect about that. Here's the situation. I mean, I hope this stays in the episode because people who've seen this will be like, Yeah, that's   Michael: Really relatable.   Tom: But the western part of Virginia, not West Virginia. Anyways, continue.   Emil: I've seen tic tock videos I've ever actually been on tick tock. It just sounds like a black hole of silly videos.   Tom: Yeah,   Michael: I think that's a fair assessment.   Tom: Yeah, yes. Me too.   Emil: Is there other types of videos? Or is it just silly videos? It's only thing I've seen like silly tick tock video clips.   Tom: I think that's it. But it's funny all like a lot of it does ends up going on to other platforms too. So.   Emil: Right, right. I think I've seen them on YouTube. Anyway, moving on. Number five, we've got Iowa our median home value in Iowa we have $165,955 or one year price change coming in at 6.8%. Five year price change 23.1% And our median rent $1,021. Something interesting that I'm noticing as we climb up the list in cheapness is that the percentage price change so appreciation is getting lower and lower so far.   Tom: Huh? Interesting,   Michael: Seemingly, and also that the median rent is fairly consistent.   Emil: That too, yeah, median rent is hovering around 1000 bucks a little over 1000. All right, cheapest cities within Iowa to buy a house. We got Waterloo, Sioux City, Davenport and Council Bluffs.   Michael: Okay,   Emil: All right. Number four, Oklahoma, which I think you guys I think somebody mentioned   Michael: Tom mentioned   Michael: Tom!   Tom: Windy City, Mr. Three for three   Emil: Windy City. Man somebody is worse that geography than me. All right, Oklahoma. median home value $150,754. One year price change 10.4%. So stepping up a little bit from our Iowa numbers. Five year price change coming in at 29.1% in our median rent on a three bedroom place $1,015 Or cheapest cities to buy a house within Oklahoma or Muskogee, Muskogee Lawton Shawnee and Enid. I probably butchered every single one of those.   Michael: Yeah, if anybody knows the proper pronunciation, please feel free to leave us a comment.   Emil: Spell it phonetically for us. Alright, number number three we get into top three good stuff. All right. I think someone mentioned Arkansas as well or console comes in number   Michael: Tom again.   Tom: Mr. Three for three did.   Emil: Alright Arkansas.   Tom: T for T for short. TFT   Emil: Our median home value on Arkansas $149,120 our one year price change 10.4%. Our five year price change 30% And the median rent falling below $1,000 For the first time $926. Our cheapest cities within Arkansas to buy a house are Pine Bluff. Texarkana North Little Rock and Fort Smith.   Tom: I like Oh, I like all these areas anyways, just having like visited and I don't know,   Michael: Have you visited all those areas?   Tom: I pretty much most of them yeah.   Michael: Like every single one that a meal is listed so far or just physically in Arkansas,   Tom: I haven't I haven't visited a lot in Iowa but I mean, Alabama, I've visited lots of Alabama. I had that. I don't know that we mentioned a weird deal where I played football in college at UC Berkeley at Cal and then I got hurt my senior year and then found a weird loophole that I couldn't play D one because my eligibility was expired, but I found a loophole allow me to play D two. So in the best D two football is like in the south, so I lived in Muscle Shoals, Alabama and we like traveled around a bus and like went to tons of these like spots in Mississippi or Kansas. Arkansas. Yeah. Hello. Ours are in Texarkana. I That's just proving me as a you know, not as a novice if by calling it that anyways, go ahead. Pass the mic.   Emil: Such a west coast dude   Michael: This is the situation this is a podcast is not about Arkansas.   Michael: It's about the western part of Ar…   Emil: Alright, number two, I think you somebody mentioned Mississippi did someone mention Mississippi?   Michael: Yep. TFT did   Tom: TFT, yours truly.   Emil: Median median home value in Mississippi we've got $140,818 One year price change 8.4% Or five year price change 24.7% In our median rent coming in at $989   Tom: This just my last derailing on that on living out there. So I had like mentally prepared for the heat. I was just ready right dog days and it was hot. But I ready. I had mentally said I'm going to sweat a lot. There's going to be kind of hot but I honestly I honestly kind of enjoy it like you know give me a sauna give me whatever steamroom what I was not prepared for is come wintertime it snowed a little bit there. And I was not ready. Yeah, right. It snows there.   Emil: I had no idea it snowed there.   Tom: It's not like feet, but you know, you'll get dustings every once in a while and Alright, number one, go ahead and do it. Interrupting cow, mooo!   Emil: Before you before you come in, we gotta we got to talk about our cheapest place to buy a house within Mississippi. Okay, those are Jackson Greenville Meridian Gulfport, so now.   Michael: All right  All right. All right.   Emil: One. I don't think anyone guessed it. It was West Virginia.   Michael: This is a situation.   Tom: Wait  the western part of Virginia?   Emil: How ironic and perfect could that have been   Michael: That is so good.   Tom: TFT.   Emil: See, you can't miss today I'm telling you. Take every dollar you have and you'll make any investment that you possibly desire to get good day for you. That's West Virginia. Number one. median home value. We're dropping off a bit from number two. So 117,768 is our median home value one year price change at 7.1%. Five year price change 19.3% In our median rent for a three bedroom place, coming in at $912 our cheapest cities within West Virginia to buy a house Bluefield, Clarksburg, Beckley and Huntington. And there you go top 10 cheapest states to buy house in 2021.   Michael: So what are each of your biggest takeaways from this?   Emil: I think I already mentioned mine, I was surprised that the percentage change didn't like, I would think the cheaper the house is, you know, a $5,000 increase on 117,000 versus 160,000 is gonna be a higher percentage. I was expecting the percentage to be higher in price changes when it wasn't so that was surprising to me.   Tom: My surprising is in some of the states it's like they're like It's like bigger cities that are the least expensive one so like Arkansas, like Little Rock is I think might be the capital I love like in like capital cities and just in that there's like kind of like a natural draw for like economy and, and all that kind of stuff. So it's cool in some of these less expensive in some less expensive states like you can buy, you know in that whatever Capitol Corridor, whatnot city or like around the suburbs and still have less expensive so I thought that was an interesting tidbit.   Michael: Nice.   Emil: How about you, Michael?   Michael: MIne was just you could go to the 10 cheapest cities and over the last five years. Get A 20% increase on your value by doing literally nothing. And so it's crazy when we talk about the power of real estate and all of the great benefits that it has, like, if you bought a property there, for 100, grand five years ago, it'd be worth 120 grand today, like, that's unbelievable for the fact that you were getting paid probably that whole time, too, with a tenant in place. So like, it's just, it just speaks volumes to the power of real estate and how the multiple ways that it pays you even in like, less expensive markets is pretty profound   Emil: Ya true.   Tom: Yeah. I think also, Michael and I, we've done a bunch of webinars together, and one of them, we were going through some assumptions around building a passive income flow of $100,000. And within the assumptions, I think we had the purchase price, like somewhere north of $100,000. And like, someone had commented, like, Hey, you can't buy a house for 120,000 or 100 and whatever it is, like, yes, you can like that. You definitely can. And yeah, these are all 10 states in which that is very doable.   Michael: Yeah. And it was funny, I was like, I'm pretty sure I just bought two of them not to like shame that person. But I was like, guy, you just like incorrect with your facts, like I literally just bought two of them. So   Tom: I think it's a good exercise of like, kind of taking blinders off. Like perhaps that is your strategy only to buy in these really large cities. And that's great. And then you know, you can't buy $100,000 house or $150,000 house. But if you know, you're kind of open to moving around and shifting your strategy to meet specific goals, like there, there definitely are markets to do that.   Michael; I think even in some like in some of these bigger markets, and even capital cities, if the median home price is 100, you know, is $300,000, I'm sure you can still find properties for 150k. They just need a bunch of work. So depending on what your investment thesis is, and what you're prepared to do, I think that there are opportunities in every market, you just have to be willing to uncover them or be willing to do what it takes to then profit from those opportunities.   Emil: I've seen that a lot of like, like Midwest cities, like I invest in St. Louis, and there are their homes that sell for a million plus still even in St. Louis, and their homes that sell for 50k. Like there's a huge, huge, huge disparity. You know, one home was probably built 120 years ago and is fully dilapidated and needs need some love and the other one is like a mansion but still like there. You can same city, you can have a huge disparity.   Tom: Hey, guys, I think we're going full circle from the very beginning of the episode, when I was kind of teasing a meal about, Hey, why did you guys do states? Why don't you do like a little bit, you know, not like the largest possible, you know, where even within each city like there's just, you know, really dramatic range. I mean, here in the Bay Area where I live in Northern California, you know, there's much smaller cities like not smaller, but less expensive, right. You know, perhaps Richmond or Vallejo or like Stockton and then you have areas like Piedmont and Menlo Park and all of these spots. So you know, even at every, every level, there's just really dramatic range.   Emil: Yep. But in California there there is definitely no $100,000 properties, that's for sure. Maybe a shed in someone's backyard, but that's about it.   Tom: Working on one right now.   Emil: Are you doing a shed? Are you building an ADU?   Tom: Uh, it's in a level electrical. It won't have a bathroom in it.   Emil: It's made to be like your office like an office area   Tom: Exactly. Office gym 10 by 18 I kind of wish I did it a little bigger like man 12 by 20 would have been like kind of fun but 10 by 18 is still very good it's basically the equivalent of like two rooms in one room so and doing prefab I think I've talked about before but anyways, the long journey and getting it the concrete truck should be coming any any moment now to lay the piers for the foundation of it.   Emil: Alright guys, I'm gonna I'm gonna send this home before we meander as we always do. So if you've made it this far, thank you for watching. Thank you for listening, and we will catch you on the next episode. Happy investing.   Tom: Happy investing.   Michael: Happy investing.

The Remote Real Estate Investor
The entrepreneur journey, with the co-founders of Roofstock, Stessa, and Great Jones

The Remote Real Estate Investor

Play Episode Listen Later Oct 22, 2021 45:16


Over the past year, Roofstock has acquired Stessa, an asset management platform made for real estate investors by real estate investors, and Great Jones a Property management company specifically suited to serve remote real estate investors. This helps make Roofstock a one-stop-shop for remote investors. In this episode we have the cofounders of all three of these companies on to explain the companies, why they joined forces with Roofstock, and their pearls of wisdom for investing and entrepreneurship. --- Transcript   Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Tom: Greetings, and welcome to The Remote Real Estate Investor. We have a really fun episode today Michael and I are going to be interviewing the co founders of all the different companies that make up the Rootstock ecosystem. So if you're not aware, over the past six to 12 months, rootstock has acquired an asset management platform called Stessa. A really cool software to manage all of your properties that an asset management layer, as well as a property management company called Great Jones. And altogether it's a it's a really powerful stack of real estate technology tools and operations for investors to have and we brought on the founders from all of these different companies.   So we have Gary Beasley from Roofstock, who was a co founder. We have the two co founders from Stessa in Heath Silverman and Jonah Schwartz. And we have two co founders from great Jones and Jay Goldklang, as well as Abigail Besdin. And we ask them about their company, the fit within the roofstock ecosystem, some pearls of wisdom on investing on starting companies, all of that good stuff. So really excited about the episode we have today. And let's get into it.   Michael: All right, everyone. Well, thank you for taking the time out of your very, very, very busy schedule. We've got a lot of heavy hitters on the line here. So I would love if you could all introduce yourselves to our listeners. One by one. Gary, you want to kick things off? We'll start with you.   Gary: Sure. Great to be here. I'm Gary Beasley. I'm the co founder and CEO of Roofstock.   Michael: Fantastic. And Abigail.   Abigail: Hi, I'm Abigail Besdin. And I am a co founder of Great Jones.   Michael: Perfect Jay.   Jay: Hi, I'm Jay Goldklang, founder and CEO of Great Jones now a Roofstock company.   Michael: And Heath.   Heath: Hey, I'm Heath Silverman, co-founder of Stessa.   Michael: And last but certainly not least, Jonah.   Jonah: Yeah, I'm Jonah Schwartz, co-founder of Stessa,   Michael: And we've got Tom Schneider on the line as well.   So I would love if you all could share, why Roofstock, Stessa, Great Jones decided to join forces. What was the impetus behind that?   Gary: When we first started Roofstock we knew not only did we want to have a marketplace for transactions, but we wanted to build deeper relationships with owners and build a community. And to do that, we knew that we needed to be relevant to all property owners who own single family rentals, not just those who are looking to trade at any given time. And so from the very early days, we were trying to figure out how to do that. And I met Heath and Jonah was 2017. Yeah, 2017. And we just hit it off right away. And I said, Wow, these guys are building something really cool that it could provide software for every single family rental owner out there. And like a Credit Karma app for real estate owners, it'd be a great way to stitch together community get a lot of data and and invite people into the marketplace at the right time.   So we had a marketplace and no community they had this great community they were building through the software. And so when I knew that it would be quite interesting to try to bring the companies together. Unfortunately, they decided to sell their company to JLL and not to us, JLL at the time was a little bit larger than Roofstock still is. But we'll talk about later life comes full circle very recently we were able to buy the business from gll and bring them into the Rootstock family and so that's worked out really well.   And then with with Jay and Abigail we also knew that we needed to have a relevant connectivity to retail owners and offer property management because that's the biggest pain point for owners is to be able to outsource a lot of those challenging tasks to professionals and and so we've been tracking Jay Abigail and Great Jones for a long time. There was an opportunity this year to get together get to know each other more recently and that was sort of the one missing piece of our fully integrated platform was retail property management. We have institutional grade property management through Streetlane, which was the first company that we purchased a couple of years ago and now with Great Jones and with Stessa we've all kind of come into the the ecosystem together one big happy family under the Rootstock umbrella.   And now we're in the process of integrating the businesses and, and, and growing. So. So why don't we turn it over to maybe Heath or Jonah, maybe you go first and then Jay, Abigail, you could you could chat about how, how this all has worked for you guys.   Heath: Yeah, I mean, I don't know if I have anything additional to add other than I still remember those drinks we had back in 2017, where we got introduced and started sort of as a more casual conversation about what we were doing and turned into a couple hours of just diving deep into both of our businesses. And I think it was just very refreshing and super exciting to meet somebody who had, you know, the same big vision, you know, of how do we bring transparency and accessibility to this asset class, that traditionally was just one that, you know, was hard for a lot of people to get into, and just didn't have great technology to help power investors out there. So, yeah, fantastic, it came full circle, we're super excited to be part of rootstock. And yeah, excited to see what we're gonna do together.   Jay: I think Heath and I, and also Gary and I have talked about how similar some of the visions are, that we've articulated, maybe the starting points have been a little bit different, because there's a lot to do. But sort of, I think each of us are organically as heard from, you know, the owners we work with, and to some extent, the residents that we work with, how many different moments they they'd like to, you know, have our partnership or, or, you know, partnership with like minded folks to think about using technology or operations to sort of remove friction and let them focus on on what they enjoy doing best. And I would say, you know, really, for the last 12 to 18 months, we've felt even more pull to help our customers, you know, buy more assets, dispose of assets, make good decisions. And so, you know, when, when there came an opportunity to come together, you know, not just in a partnership, but but but more than that with Roofstock. And also with the Stessa. Folks, it's been really exciting to get to work together, you know, to take take on the world, but with a with a shared vision.   Jonah: Yeah, we hear that from a lot of our customers as well, that they're, you know, what, what they get from stessa is great, but they'd love for us to do more, they want sort of that one stop shop, full stack solution to a lot of these problems, including transaction, including property management. So, you know, fitting together and putting out one solution for our customer base, or shared customer base makes a lot of sense.   Tom: I think what's so neat about these three companies is just solving, you know, three very different problems, from transactions to ownership to asset management. I think a lot of times as a startup, you know, you can have really big eyes and be like, Oh, you know, we want to do all of this, and it works really wonderfully. When it's able to come together. All together, I'd love to hear kind of the evolution that you guys had kind of originally, you know, was it always kind of to build out this full stack on your own? Or was it you know, more niche, I'd love to hear just kind of the evolution of your thought of the strategy of the business. And you know how that unfolded into where we're at today, which I think is a really nice platform, I'll say.   Abigail: I could take the great John's piece there. But it sounds like we're all describing a different starting point that very quickly led to this broader vision. Because ultimately, that's what we all learned pretty quickly, the customer wanted a no friction, one stop shop for the full puzzle. And on the great john side, you know, we started, we exclusively were serving what we call the retail customer, the mom and pop investor. And we had started to describe ourselves as institutional grade PM, institutional grade property management, which meant a whole host of things around the type of service that you deliver, and what you actually do as the property manager.   But it became clear that to really be institutional grade, you had to give the retail investor access to all the things that institutions have access to, which is really a full stack solution to investing. And so we I mean, I think Jay can correct me, but I think within a matter of months of the business existing had articulated that it's actually a platform vision that property management is this wedge into this much larger space. And it It took us quickly to realize that and then that's a drum that we beat throughout the duration of the business, and continue to hear and in talking to both Gary and Heath and Jonah, it feels like everybody had the same path. It was just a different what is the wedge, but the thesis is the same.   Heath: Yeah, 100% are our wedge, we always believe that financials were sort of the foundation of every real estate investors business. So by starting with the financials, we could become the system of record, we have all this data around the performance of their properties of their portfolio. And with that information, we can start providing you know, insights to help them maximize the value of the portfolio. You know, automate a lot of the you know, by automating the financials, we can save them a lot of time, help them make more money and doing so It would basically get us into a place where we could then long term become that platform. But of course, now that we have Roofstock and Great Jones, we've we've definitely accelerated that vision and are able to move a lot faster.   Jonah: Another thing that we hear from Stessa users is that by using Stessa, it gives them the confidence to expand their portfolio and obviously Roofstock and the Roofstock marketplace is there when our customers are ready to expand.   Gary: Yeah, I think bringing these companies together was a really natural thing. And we could talk about why I think it's working. It's still early, but it's working quite well, relative to I think a lot of business combinations. And I think what you're hearing is a lot of commonality of vision. And as Abigail, I think, probably like aptly, we put, we all just started from a different place, but we're kind of going in the same direction.   And so So for us, I think it just says accelerated kind of the growth and the amount of time it would take, rather than having to build all these things ourselves. By bringing them all together, we could just do it much more quickly. And and that's I think what we're seeing and then by getting the businesses together, then in addition to it's not just a one plus one plus one equals three, there are synergies, and we should each be able to grow our businesses faster and more efficiently. Because we're sharing data, we're sharing talent across the organization.   And there's a reason most mergers fail. And a lot of that is cultural. We have been very, you know, careful as we evaluate any of the transactions that we've done, it's got to be the right cultural fit. And this these clearly have been an honor. And I think one of the reasons that we've we actually ended up doing both of these deals was the people probably the primary reason they both had good tech and good businesses, but being able to attract all the the talent, the energy and the knowledge of the founding teams and their their core leaders around them really, really powerful. It's it's just hard to find that out in the market. So. So there's lots of reasons I think we're seeing early returns being very promising for this.   Abigail: I think that we all started a different entry points, and not randomly, but because those entry points were our strengths. So I see Stessa has like having firsthand financial issues with their portfolios, like really understanding that space very well, coming at it from like a real software sophistication, Jay and I and the team that we've built both come from really heavy hitter operators, you know, operationalizing messy businesses with technology. And then you had Roofstock with really deep real estate expertise, having done more at scale in the transaction space than probably any any other team combined. So it's not that we all just had the shared vision and happen to be coming at it differently, you have these really deep strengths that we're all playing to. And when those come together, I think that's part of the one plus one equals three that Gary's referring to.   Tom: Perfect segue into the next question, Abigail. So we've been talking about this kind of platform of the different layers of asset management, property management transactions, I'd love to hear the different founders talk about what is the special sauce within their layer of the transaction? Maybe technology, technology wise, you can explore the face the space of the question, but what would you say is some of the competitive advantages within that vertical of the company that you've started that has come together to form this this platform? I'd love to hear your guys's thoughts on, you know, what makes your segment that much better than other options out there.   Jay: On the Great Jones side, I think what we saw was, you know, a number of different areas of inspiration, I think, as Abigail mentioned, a lot of our sort of founding team. And I think at the core of what a lot of what we do is, you know, how do you take hard kind of online offline problems, maybe where there hasn't been a tremendous focus on sometimes efficiency or the Cust customer experience and build something better? That's sort of enabled by by technology and maybe enables, you know, higher growth and higher levels of quality?   So, you know, what does that mean, with respect to property management, I think the experience that investors have often had is that it can be run as a local service business. And as with many of those cases, there will be a really wide distribution where some people will be excellent, some some teams won't be. There's not a tremendous amount of consistency, facilitated facilitated by technology. It's heavily reliant on the people.   And I think what we found, you know, both them in prior experiences and that Great Jones is by I think the core, the core of what we're doing is thinking about What are the outcomes we want to deliver at the end of the day that creates, you know, a great customer experience and really solid returns? How do we think about instrumenting processes that haven't been instrumented previously? And what that allows? And how do we build great, you know, really nice interfaces for, you know, our own team members, owners, residents, vendors, anyone who needs to engage to create that great outcome.   And what we find that that then leads to, is a much more consistent and controllable level of performance, where we, where our team has much more transparency into how can we drive those returns? How can we drive that quality. And because we've instrumented things beyond captured, that data that maybe historically wasn't structured or captured, we can create much more visibility for an owner or a resident on the status of something.   And so an example would be, you know, doing a property turnover, where it sort of, if you if you know, from move out to kind of rent ready, that there are, there's a bunch that needs to happen in terms of doing a full inspection, considering the different paths to remediate or improve anything, coordinating the work of many different vendors, managing timelines, managing costs, you know, giving an owner the appropriate level of choice. And so we've built things like workflow tools for our own team, external interfaces, owner approvals flows, to really make that more of ultimately, almost like an e commerce and messaging experience for the owner. And that's what we think people have been accustomed to, you know, in other experiences, and enables the owner maybe to to Jonah's point to feel more comfortable growing their portfolio doing so across a number of markets, because they know, you know, the quality outcomes that can come with that.   And so, when we've done that being one example, but I think we consider a lot of the core of what we've done to think about, you know, how do we infuse maybe more consumer tech into a space that that hasn't necessarily had that to create a more, a higher performing, maybe more digital, more consistent experience?   Tom: That's awesome. transparency, control, all of that good stuff. I love it, Jay. Gary, do you want to want to speak next?   Gary: Sure. You know, one thing that I neglected to talk about at the beginning, and I know you wanted us to talk a little bit about our real estate investing experience. And I guess what, what it brought to mind that I was sort of thinking about this, which I think is sort of relevant to what we're all doing is, I started really, at very large scale on the institutional side buying 1000s and 1000s of homes during the last financial crisis, and really, kind of cut my teeth figuring out how to build institutional grade tools that would be used by institutions. And I think what we're doing here together now is taking a lot of those learnings that that I and my co founders, Gregor and Rich, kind of, were deeply embedded in institutional scale. And I don't want to say dumbing them down at all, because that's that it sounds derogatory. Simplifying them, and, and having a lot of that same power that we developed, you know, for institutions, and putting in the hands of, of retail investors. And, and, which is, by the way, where 98% of the home set.   So when we think about the addressable opportunity, as a platform catering to real estate investors, it just gets me so excited that we can take all those learnings and apply them now through these different business models at real scale to to retail investors, which as well as institutional investors. And I think one of the other I think, I guess, learnings or I would say, observations that might be counterintuitive, as people are out there thinking about building their own businesses, and how it might relate, you know, to what they're doing in their own lives.   But we took a little bit of a different path to building Roofstock, where oftentimes people will say, you got to pick the retail segment, or you got to pick the institutional segment, and then focus ruthlessly on that single customer, and don't try to boil the ocean. Well, we did try to boil the ocean in that we, we took a contrarian view and said, there's, you know, 90 million homes out there about, you know, 17 million of them or so are rentals. But that rental home doesn't know whether it's an institutional home or a retail home, it's a home. So we need to understand the whole market.   And by catering to both types of customers. We get data from all of them. And the market is the market. It could be an institutional buyer, retail buyer could be any of that. So So I guess I would just encourage people as they're thinking about that. Their own entrepreneurial journeys don't necessarily always listen to conventional wisdom. Because we didn't, we came at it differently, perhaps more ambitious than we then might have been wise coming out of the gate, but we felt like it was the right strategy has turned out to be, it's a work. And so you know, a lot of it comes down to execution. And being able to prioritize and ruthlessly prioritize when you're trying to do a lot of ambitious things, you have to figure out which is the most important which are the most important and focus on them.   And then also know when to pivot and when to stick to your strategy. That's just kind of another thing is for entrepreneurs out there. And that would be one of the things maybe that's interesting for everyone else on the call is that we've all had times where we've had to pivot our strategy. And that's one of the hardest things as an entrepreneur, you have to have conviction around what you're doing, until you decide you need to do something differently. And I'd be curious if there if any of you, my or my colleagues here had any, any observations around that, but that is something that as entrepreneurs and as real estate investors, you You are always trying to figure out well shoot, do I need to change my strategy here? Or do I need to stick to my stated goals?   Abigail: We had something similar where a great John's we I mean, almost identical, we were serving the retail customer exclusively. And we had the opportunity to serve an institutional customer, which was so different and clearly frightening because you have your your heart envision set around a certain customer experience but but took the leap and did it and we too ended up finding not just that it works, but that it it benefited both customer segments. So the the wisdom of have a single customer segment we too maybe walked away from, and both customer segments benefited in a way that I think, paid off the courage of that paid off. I had definitely received the advice early in my career, less about Greg Jones and more in previous contests to get great at murdering my darlings, which I believe is a literary phrase around being willing to like, you know, move away from a plotline, if it's, you know, not serving the momentum of the book or whatever piece that you're writing and definitely sticks with me. It's it sounds ruthless, but I think it ultimately pays off ends up being the bolder decision.   Gary: And you thought all that stuff that you learned when you were a writer was not going to be beneficial in your entrepreneurial career.   Abigail: Exactly. Here I am.   Heath: I'll add, you know, with Stessa we actually pivoted pretty early on. So the first customers that we targeted were really mid market investors. So people with, I don't know, 50 to 100 million in assets under management who we go after and provide full service bookkeeping to. And that's kind of how we got started offering and create financial solution. But we quickly learned that the really massive market, as Gary was saying, is really this, you know, retail investor out there. So shortly, I don't know, what was it Jonah, was like a year and a half after, after we started signing up customers paying customers, we basically made a big decision, hey, we're gonna go off to this much bigger market much harder to reach. You know, these are investors who are very hard to identify, often not willing to pay upfront. So with a free self service product, and we had to go back and fire all of our existing paid customers, which was, which was a very painful experience, but put us on really the right track to get to where we are today.   And when we went after those retail investors, one of the things that we learned that was really interesting is that, while technology and data is really you know, there's quite a bit out there, it's very pervasive out there today, many of these investors were just not using anything, we found that most of them, they actually had no clue if they were making or losing money on any of their investments. They kept most of their financial data in a out of date static spreadsheet, and the only time that they knew if they'd made or lost that money, or how their properties were performing was once a year when they got the returns from their accountant.   So that was a pretty big insight, we realized that when we built Stessa, and when we targeted these guys, we really needed to make this an incredibly intuitive, very much a consumer grade offering for these guys. So we built this self service to all, you know, purpose built for investors, built by investors, you know, really based on our own pain points that Jonah and I have had after being investors. For a number of years together.   And one of the one of the wonderful things about that is again, this was very, very painful decision to to make this change. But nowadays, our you know, our biggest, one of our biggest areas of customer acquisition is just investors referring other investors. And when you go into our net promoter score comments and see what people are writing, I actually did this. The other week, I took all the words created a word cloud, and the two biggest, most common words that people use when they describe it that our users use when they describe Stessa is easy and love.   Gary: Great, great question prompt Gary, Michael, go ahead. And yet, you know, feel free guys in move in the conversation in a certain direction you think they'll be more engaged in as we're as we're going through, but this is really great. So far, I love the inflection point question of these businesses, I think people are going to love it. Go ahead, Michael.   Michael: So you all individually have mentioned technology and how your companies have leveraged that. So I'm curious if you can give listeners at a high level, what technology you're giving them access to. So they can compete with some of the big players at the institutional level.   Gary: Fundamentally, when we think about what's different about Roofstock it's it's the data and technology that's foundational to what we're doing. So you're you're you've got really the same data and information analytics at your disposal that the major institutional investors have through our platform. And so the whole idea is to make it simple and intuitive, not not overly complex, to have a nice UI, but very powerful data around valuation underwriting how to evaluate investments on a risk adjusted basis with our neighborhood scores.   So the idea would be if you were an experienced investor, or even a novice investor, you can come and use our tools. And, and, you know, we provide, you know, I don't want to say it's training wheels, but but it kind of is your because it's all sort of teed up there with starting assumptions that you could then play with, you could look at other properties, you can, you can participate in the rootstock Academy and learn, you can join that community and share ideas and notes. So we try to provide this as a platform for investors to learn, we have plenty of people who engage with us who never buy anything, but they're just learning about investing and how to how to get on their own journey. And that's fine. It's, it's totally cool, we love it.   But eventually, we were there in case they, they want to do it. So I think in terms of if you if you're not in this in this, professionally, oftentimes just hard to understand how to value something, or how to think about the trade offs of buying a property in a four star neighborhood versus a two star neighborhood and you're playing with a lot of that stuff in. And that's what we're trying to do is continually make make the site in our, our business, intuitive, not overly complex, but have enough power that people can unlock, when they want to get in and do further and further research.   I know, when we were first raising money, we got some feedback from venture capitalists, it turned out to be very good advice. The first version of our site was way too complicated. We sort of nerded out on a bunch of different calculators and all these kinds of things that as kind of professional investors were like, oh, wouldn't it be cool if we could do this and that and that, and we did. And his feedback was, guys, this is a Frankenstein product, I get why everything is there. And it seems like it was kind of you just kept adding things because they were cool. And that's exactly what we did. We we did not, we didn't edit properly. And so that was a really good forcing function for us.   He said, If you could ever clean this up, you'll have a monster company, but it just, you know, it's gonna, everyone's gonna get lost in this. So we did and we, we simplified it greatly. And we took a lot of that functionality, we buried it a little bit deeper into the sites, you can unlock some of the sales analytics and things like that. But there's a real balance between having a powerful set of tools and a simple set of tools. And while people want choice, complexity can be it could tie you up in knots.   And so it's got to be this balance between, you know, editing and providing curated data and choices for people versus you know, maybe say that, like if you walked into a store and none of the products were organized into sections, it'd be so overwhelming, right? But if you if you could get guided to the right part of the store, and then you have three things to choose from, it's a heck of a lot easier. So that was I think another kind of interesting lesson as we were building just because you can do stuff doesn't mean you should In many cases, simpler is better.   Tom: Gary one thing I've been meaning to hear you articulate a response. This question is, for some investors, there's a perception that Roofstock is more for like an intro investor, they buy a house on roof stock, and then they bought it, the training wheels are off and they go buy somewhere else. What would you say to that comment of thinking of Roofstock as kind of like, exclusively as like, on the retail side, just for the training wheels, like the initial investor, and then you, you know, go somewhere else, I'd love to hear your your kind of thoughts on that stigma?   Gary: Sure. Well, I would say it depends on what you're trying to accomplish, right, we have some of the most sophisticated investors in the world buying homes off Roofstock. So it's not just for novice investors, it but we do have a unique positioning, and that there are very few on ramps for investors to to learn how to do it, and we provide that that guide. And if someone buys a home in a particular market, and they want to buy more homes, I think, you know, there's no obligation to do it through Roofstock, you certainly can can use those those skills that you have developed.   But it's it's certainly a heck of a lot easier. Because we've you've got all those tools already. And so there's no reason not to, it doesn't really cost you much to use our system. It's it's a, we charge a small marketplace fee to buyers, but you get all the data and analytics and all that to go there. So I would say if you want to buy remotely, it's very hard to do it on your own. So Roofstock has that infrastructure where we compare you with property management, financing, all the comps and analytics, that you certainly could go do it. But if you're looking at homes in four or five, six different markets on your own, it's very challenging, you have to travel, you have to find real estate brokers to work with.   And so, you know, I don't think, you know, I guess I really don't think about our platform is catering, certainly exclusively to first time investors, although a lot of people do start with us, I think on average, now we're just under two homes per investor. You know, people were using the site, I think a lot of people are trying to buy a home a year. For our platform, there's certainly no obligation to continue to use this. But I think for the most part, what we're seeing is people kind of continuing to use us and maybe using more and more of the tools over time, as they do get more sophisticated, maybe you do start to think about portfolio construction and think about where you want to own homes and set up little alerts, put yourself on a program to get build a diversified approach.   So I think it's it's a testament to the platform that we're building and the veracity of it, that it can be something that someone could start with, and then stay with throughout the lifecycle. And you can get as as geeked out is as you know, intense as you want about some of the tools and analytics, but you don't have to.   Gary: And plus all the other additional layers within stessa. Great Jones and Michael, do you want to just reiterate that question that Gary answered first related to technology we can have. Jay, Jonah and Heath take a stab at it as well.   Michael: Yeah, absolutely. So curious to know, because you all come from a technology background, what technologies and tools the individual investor has, Abigail, I think you said a nice that the mom and pop investor has at their disposal because of the companies that you all have founded?   Jonah: So I think he then I, you know came to this not because we were full time real estate investors, right? Real estate was sort of like our side side hustle while we were working in in the tech industry. And you know, that our day jobs in the tech industry, you have access to workflow automation, KPI, dashboards, like, you know, sophisticated modeling tools. And when we were working on our side hustle, owning a moderately sized real estate portfolio, we were doing spreadsheets and sending a lot of emails back and forth and had a stack of stack of paper documents on our desk. And so that was that was really the core problem that we were looking to solve is is give people that those sort of, you know, professional tools, but make it simple and make it purpose built for real estate.   Jay: Yeah, I think, you know, taking on a bit more of the operational side of property management but with a similar lens. A lot of our product strategy has been about, you know, how do we build the internal tool set and structured data that helps us create the outcomes in a scalable way. across, you know, an increasing number of markets, so enabling, you know, investors to work with us across a bunch of markets, that then leads to that transparency for the owner. And I think, you know, I talked a bit about how we've thought about turns in that context, I think that sort of measurement also allows us to then, you know, really lean in and maybe build some more custom tooling where we see there's going to be a benefit.   So for example, when we were very focused on once we had built a lot of the measurement of turn times, we saw there was an opportunity to get, you know, our staff out to homes to inspect them faster, that led to us building a set of sort of prioritization and routing tools, focused on that problem, that sort of prioritization of field work and, and completing that. And so I think part of where that thing goes, in addition to the outcomes for our investors, is a new layer of intelligence into that operational layer. So because we're measuring things like processes, or costs, maybe ROI around things like maintenance or turns or, you know, how did those decisions work out that we made around renewals or leasing, it's been our, you know, our goal, to think about how to structure those data sets, maybe into the owner, you know, web application, or, or help owners make their next decisions based on a sort of a layer of ownership that they haven't had that transparency into historically.   Michael: So I've got just one last question for everybody and very curious to see where it takes us. But I would love if you all can share a little pearls of wisdom or a nugget that you've picked up, because you are founders and co founders of tech companies that you find really applicable to real estate investors, what's the kind of an actionable takeaway or something that an investor can walk away from listening the episode today, from you all that have that have founded companies?   Abigail: I already shared, that you need to murder your darlings. So let that ne a minimum pearl.   Tom: We should we should name the episode.   Abigail: The website, you know, the original Roofstock website was so complex that he had to murder maybe just bury some darlings. So I think we saw that that the same lesson play out there, the the main piece of advice I have is to not overreact to things that are on fire. So just sort of set that your baseline is that all things will be on fire, there'll be multiple fires, and that you shouldn't over pivot or over course, correct, based on anyone, you know, imminent moment of pain, which I think takes a degree of articulation and commitment to where you're going and what the longer term path is. Less that be taken too literally, for real estate investor, I don't mean to use fire, like if something's on fire. Surely, that's not the lesson to be learned there.   Michael: I was just gonna say, do you know about the two fires that I've had in my building, I don't, I don't, where were you two years ago to calm me down.   Abigail: But whatever, whatever the appropriate corollary is, you know, to be confident in whatever strategy you set and be committed to it and not over pivot based on, you know, near term troubles.   Jonah: I would second that, that in real estate, it can be tempting to try to optimize one particular transaction or renovation at the expense of like the long term. You know, thinking about your, your network, your you know, the your business relationship, so the team that you're using to build your real estate portfolio up. And, you know, obviously, you know, building a startup is similar, you can't get, you know, there's the day to day aspect of it. But you also have to make sure you're always building for the long term.   Heath: Everything takes so much longer than you ever expected.   Gary: I would agree with that. I agree with all those those pearls of wisdom. I think having the right long term orientation, making decisions that are right for the long term, very critical, whether you're an entrepreneur starting a company or you're a real estate investor, you know, how much do you want to invest in your renovation, it's going to cost you more, but then it's going to cost you less on an ongoing basis that when you're starting a company, how much do you want to invest upfront in your core technology and in your team, you could do things more on the cheap, but it might not be as enduring. So I would think about investing, you know, in capital and people that are really, really critical.   And then I would say, just on the entrepreneurial side, what has worked for me is real optimism is I think there's different ways and but it's you're intellectually honest, but you're optimistic and you're in solution oriented. You can fall into despair very easily as an entrepreneur or if you have a real estate investment that's going sideways, but if you really sort of say okay, we are where we are, you know, what are our options, how do we fix it and I know we're going to get through this. It You find very few entrepreneurs who won't don't have a glass half full kind of orientation.   A good friend of mine found in Workday. His name's Aneel Bhusri. And he also founded, you know, another company with Dave Duffield earlier in his career. And so Dave co founded Workday with him as well. And, Aneel said one time, he said, Yeah, you know, I'm, I'm, uh, you know, I'm a glass half full kind of kind of person. And I'm a good complement to today, my co founder, you know, by contrast, he's a glasses, entirely full type person. So, you know, it's not as a glass half empty glass half full. And Aneel thought he was, yeah, I'm pretty optimistic. Dave was like, oh, off the charts, this is going to work. And this is how it's worked. He's created multiple billion dollar, you know, multi billion dollar companies. But so I would say attitude is important, and perseverance.   And I think by keeping that positive attitude, not everything is going to go right, you need to try lots of stuff, and celebrate failures, keep going. So we like to say at Roofstock, you know, fail forward fast, try new things, celebrate those things. And it's not easy to celebrate failure. It sounds kind of silly, and it's kind of a West Coast thing. But we do try to do it and you know, talk about things that don't work. And eventually, you're going to find some magic in there. And if people aren't comfortable failing, they don't take those chances. So I think, you know, those are a few things that I would just I would share.   Heath: You know, and I'm gonna add one more, which is luck surface area. And as you're talking about optimism, it kind of reminded me of this. So at my wedding, Jonah actually gave the best man speech. And he spoke a bit about luck surface area and how it applies. And I would say, both in real estate, and in starting a startup, you know, you really got to just put yourself out there, make it known where you want to be, you know, go and scream from the rooftops, hey, this is what I want to accomplish. This is what I want to do make sure everyone is you know, knowing what you're trying to do. And hopefully the right people will kind of step up and, and help you get to that end goal.   Gary: I love that luck surface area. You know, if you think it was Ben Hogan, who also said, the more I practice, the luckier I get. So there's no substitute for that hard work element, as well.   Tom: Jay, do you want to close this out? I haven't heard your pearl yet. Do you want to get to the final pearl?   Jay: Sure. I mean, I think I think it goes back to something Gary said about investing in the team where I think the quality of the team. And I think relationships among the team are just such a huge lever in it, whether it's startups or really trying to be successful at anything. And so I think, being patient around building the right team, having a high high bar for the right team, and sort of, you know, who's your network that you rely on, as you build a portfolio as you build a company, I think has, you know, led to some of our greatest successes and, and some of our missteps occasionally. And so I think, as has always been, you know, something, something I've tried to keep in mind.   Gary: And I would say, you know, one thing that I've also learned over time, and I firmly believe is, is the right strategy, whether you're building a company or a real estate portfolio, even though buying property is transactional, there is a way to live your life and build your career in a way that's more relationship oriented. And I think some of the most successful entrepreneurs, whether it's in tech or real estate, take the long view, and don't view everything as transactional. And while you want to get a good deal on a property, you might be dealing with a serial seller, you deal with that person well, you're going to develop in the long run, you're going to do much better by trying to find Win Win outcomes.   And so that I would put that out there because I think oftentimes in real estate, people view things very much as a one shot deal. very transactional, trying to maximize everything. And I think if you sort of take a step back a little bit, sometimes and optimize for the long run, take more relationship view can be smart.   Tom: We love to hear your feedback. So if you have any questions you want to ask some of these co founders about real estate entrepreneurship. Please, if you're watching this on YouTube, just write it into the comments. We watch that stuff all the time. And if you're listening to this on a podcast, if you could write this in the either Apple podcast comments, or you can just email us you can email us at help at roof stock.com with questions, comments, anything you Want related to this content that we're creating and as always, happy investing

The Birmingham Real Estate Investor
Episode 4: Getting to Know Roofstock

The Birmingham Real Estate Investor

Play Episode Listen Later Jun 22, 2020 30:22


In this episode, Spencer and Matthew interview Tom Schneider and Michael Albaum with Roofstock. Roofstock is a national platform where investors from around the world find rental houses that meet their investment criteria. ----------------- Connect with Matt and Spencer: gkhouses.com Email the Show: podcast@gkhouses.com Guest: Tom Schneider and Michael Albaum with Roofstock ----------------- Production House: Flint Stone Media Copyright of gkhouses 2020.