Tips for Building Your Business Plan as a Multifamily Syndicator

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This Money Monday we will provide tips on building a strategic business plan as a Multifamily Syndicator!

VIDEO TRANSCRIPTION

00:00
you know it’s definitely uh definitely
00:01
pretty pretty it’s pretty tough for some
00:03
folks right oh it was tough to think for
00:04
everybody yeah
00:05
i mean most of the city was shut down so
00:07
we couldn’t make it to the studio
00:08
unfortunately ben didn’t bring his
00:10
snowshoes
00:11
he wasn’t ready on monday and you know
00:13
shannon on our team
00:14
she was committed she was trying and she
00:16
was like i’ll i’ll figure out a way to
00:17
get down there but she did not make it
00:18
down either
00:19
so well sunday monday oh we’re going to
00:21
go in we’re going to go in and we woke
00:22
up monday we both were like i don’t
00:24
think we’re going to be able to yeah no
00:25
we were you know we were overly
00:27
confident that oh
00:28
with some cold what’s some snow but no
00:30
that 30 minute drive even with a four
00:32
uh four-wheel drive was gonna be tough
00:34
yeah yeah totally agree
00:35
so uh all right so what are we talking
00:37
about today man let’s get right to
00:38
talking about tips for
00:39
building your business plan as a
00:41
multi-family syndicator can you tell
00:43
i can read that is a lot all right so
00:46
obviously folks we can’t we can’t cover
00:47
everything
00:48
that needs to be covered to you know
00:50
obviously start up a
00:51
successful syndication business but
00:52
we’re gonna give you the broad strokes
00:53
like we usually do
00:54
and we encourage everybody to ask
00:56
questions or give comments right
00:58
if there’s something that we missed out
00:59
on or you feel like we should elaborate
01:01
on
01:01
drop it in the comment section that’s
01:03
what we’re looking for we want this to
01:04
be interactive right so we’re going to
01:05
hop right into this because we’re a
01:06
couple minutes behind
01:08
i can there we go all right so
01:11
what am i clicking on i’m clicking on
01:12
our presentation so i think the the one
01:15
thing that i’ve always kind of started
01:17
with
01:17
before creating any business is finding
01:20
the right team to create the business
01:21
with right you know i was never one of
01:22
those
01:23
solo guys hey let’s just go out and just
01:25
start a business from scratch by myself
01:27
right because you know as much as i’d
01:28
love to pat myself on the back i was
01:30
i was lacking some skill sets right
01:32
maybe a lot of skill sets
01:33
you were you know absolutely really what
01:35
i was bringing that’s where ben’s life
01:37
changed the day he met me
01:38
all right now and i’ve had other great
01:41
partners too
01:42
you know um but i think you have to
01:44
start with the team right you know i
01:46
mean
01:46
and some people could say i don’t want a
01:47
partner you know i can do it on my own
01:49
and that’s fine
01:50
right but i think that even when we talk
01:52
about team it’s not necessarily
01:54
partnerships right you know people can
01:56
do it on their own but you also have to
01:57
have vendors too right
01:58
you have to have a good lawyer in this
02:00
business you got to have a great cpa in
02:02
this business
02:03
you got to have the right insurance guy
02:04
or gal you have to have the right
02:06
mortgage broker or lender right
02:08
you have to have the right property
02:09
management company right to really go
02:11
out and scale up
02:12
a multi-family syndication business you
02:14
need to have a team
02:15
you cannot do all this on your own if
02:17
you don’t take anything away from today
02:19
it’s that came up over the weekend as
02:22
well the mastermind is where sorry his
02:24
boot camp over the weekend as well where
02:26
you know people are just really digging
02:28
in and needing to understand
02:29
what does a team look like and more
02:31
importantly i think everybody resonated
02:33
that it’s all about your team it’s not
02:34
about being a one-stop shop so
02:36
not right you know early on it’s
02:38
third-party people and
02:39
later on it’s you know immediate people
02:41
right you grow
02:42
together it’s hard to do it all yourself
02:44
and you’re not going to be an expert at
02:46
everything
02:46
i think that’s the thing that a lot of
02:47
people think that they’re the expert at
02:48
everything and you’re not going to be
02:50
the best analyst you’re not going to be
02:51
the best asset manager you’re not going
02:52
to be the best underwriter you’re not
02:53
going to be you know you can’t do it all
02:55
there’s a lot of different things
02:56
and it’s about figuring out bringing in
02:57
raising capital like i mean
02:59
all of these are specific skills the
03:01
best leader are the people that no
03:02
they’re not the smartest person
03:04
in the room and they bring in other
03:05
people are better than them at those
03:06
roles yeah you wanna you wanna there’s
03:08
there’s certain niches and we’ll just go
03:10
through it real quick these are some of
03:11
the things that you need to look at
03:12
right
03:13
you know underwriting and analysis some
03:15
people just aren’t good with numbers or
03:16
spreadsheets right
03:17
you got to know what a good deal is
03:18
numbers don’t lie right you’re going to
03:20
have to be somewhat of a salesperson
03:22
right you’re going to have to
03:23
not only do that to attract equity and
03:26
passive investors to your deals
03:27
but you’re also going to have to you
03:28
know do a little bit of that with the
03:30
brokers too right there’s
03:31
there’s a little bit of salesmanship or
03:32
saleswomanship that comes along with
03:35
this game right you know you can’t just
03:36
be all timid and never talk to them on
03:38
the phone and try to do everything via
03:39
emails it doesn’t work like that
03:40
right so you’re gonna have to do that on
03:42
the acquisition side you’ve got to have
03:43
some of those sales skills
03:44
and then going over to the to the
03:46
raising equity that’s a whole process in
03:48
itself right
03:49
and you’re going to quickly tap out of
03:50
the people that you know right you know
03:52
and your and your sphere your friends
03:54
and your family and your colleagues at
03:55
work right
03:56
maybe you can get across one or two
03:58
deals but after that you’ve got to start
03:59
really thinking about how do i
04:01
get people to come to me or how do i go
04:03
out and find more passive investors
04:05
right
04:05
and then after the fact right you’re
04:08
gonna have to do some asset management
04:10
right how do you do that how do you what
04:12
reporting do you have to give back to
04:13
your investors there’s investor
04:14
relations that goes along with asset
04:16
management what is asset management
04:17
that’s a whole
04:18
we can have 20 shows on asset management
04:19
alone right but you need to understand
04:21
those dynamics of what what
04:23
what goes into that on a daily weekly
04:25
and a monthly basis
04:26
you know and then ultimately you know on
04:29
i’ll say even taking it all the way full
04:30
circle right
04:31
to the disposition process needing to
04:33
understand how that whole process works
04:35
right
04:35
so there’s very big chunks of this
04:38
business that
04:39
you either you get you’re gonna be
04:41
getting yourself educated on the fly
04:43
or you’re going to partner with somebody
04:44
that already knows those pieces of the
04:45
business and that’s probably going to be
04:47
the best way to do it
04:48
but ultimately number one takeaway from
04:50
today’s show is
04:51
create the team right and make sure that
04:53
you you like know and trust those people
04:55
because you’re going to be
04:56
essentially married to them for at least
04:58
three to five years yep
05:00
no no so all right so going beyond that
05:02
right you’re gonna have to pick the
05:03
markets that you’re wanting to invest in
05:05
right i think that that’s we’ve talked
05:06
about this in the past what’s your box
05:08
right about narrowing down the focus
05:09
right i know a lot of people and even us
05:11
as we’ve grown we’ve broadened our
05:13
horizons but we’re still trying to be
05:14
very specific right
05:15
you’re not there’s too many things out
05:18
there it goes back to we said earlier
05:19
you’re not gonna be the expert at
05:19
everything
05:20
you’re not gonna be the expert at every
05:21
asset class in every niche and every
05:23
sub-market too much out there
05:24
right so start to narrow that down what
05:26
asset class are you looking at what type
05:28
of asset class within the asset class
05:29
right look at class b
05:30
class c class a or are you looking at
05:32
you know something else yeah right then
05:34
start to dig in from there okay
05:35
i want to buy you know 200 unit
05:37
apartments in atlanta
05:39
yeah great now atlanta well now once you
05:41
start to narrow down you can start to
05:43
then
05:43
i like to say basically work back into
05:45
the plan right so now how do i go
05:47
talk to you in order to find deals i
05:48
need to go know the brokers so i need to
05:49
go talk to all the brokers in atlanta
05:51
right in order to do that you also
05:52
figure out lenders that will lend in
05:54
atlanta so you start to put together the
05:55
other pieces
05:56
to accomplish the goal but it starts
05:57
with really getting a you know a
05:59
specific goal
06:00
which includes the property yeah and the
06:02
goal is part of it can be part of your
06:03
business plan right you know i mean you
06:05
you have to say okay
06:06
what what am i what am i getting in this
06:08
business for a lot of people are getting
06:09
in there for financial freedom
06:10
or to retire right you know but what you
06:13
have to realize is if you really want to
06:14
scale out a syndication business
06:16
it is a business and you need to treat
06:18
it as such and it needs to have goals
06:20
and plans
06:21
each year that you need to go out and
06:22
execute on right so you know where
06:24
you’re going to invest is one of the
06:25
biggest ones right
06:26
you know also property details right
06:28
your class a class b
06:30
class c i’m only going to do class c
06:32
value add stuff i want down
06:33
units i want boarded up you know we know
06:36
guys and gals that do that type of stuff
06:37
and they’re great at and they make a ton
06:39
of money but
06:40
that is a very specific niche and it can
06:42
be very stressful and
06:43
and ultimately very capital intensive
06:46
too so
06:46
you need to understand what kind of
06:48
properties you’re going to be looking at
06:49
right um
06:50
you know ultimately you know how are you
06:52
going to make money
06:53
right you know boosting not only your
06:55
income at the property level but
06:56
you know how does that equate to the
06:58
revenue that you’re going to see once
06:59
again
07:00
this is a business you have to have
07:02
revenue coming
07:03
in right and as much as people think
07:05
that you can you know retire off
07:07
asset management fees i’m going to tell
07:08
you right now you absolutely cannot
07:10
right you know 1.5 of the total income
07:13
is not going to get you very far even if
07:15
you got 10 properties
07:16
right you know um so you have to
07:18
understand that
07:19
you know um we’re also looking at this
07:21
and you know between
07:23
a property and a multi-family
07:24
syndication business but you know just
07:26
like anything else right
07:27
keeping your overhead low is huge you
07:30
know
07:31
so you’re also going to be trying to
07:32
reduce expenses at the property level
07:33
but you’re also going to want to try to
07:35
not get too far ahead of yourself when
07:37
you’re building your business too and i
07:39
think that that’s
07:39
the one thing that we’ve kind of worked
07:41
through especially over the last 12
07:43
months is
07:44
you know not scaling too quickly not
07:46
getting too far ahead of ourselves
07:48
and making sure that we have the revenue
07:49
coming in to support that right you know
07:51
and so that’s a big part of running a
07:53
business right you have to have
07:55
income you have to have you know
07:56
obviously you’re gonna have some
07:57
overhead and you have to make sure how
07:58
can i make this as profitable yeah i
08:00
like to say this business is not about
08:01
getting
08:01
get rich quick no you do build
08:03
absolutely wealth over time and so
08:04
really plan for that and realize that so
08:06
that’s where it’s important early on to
08:08
have partners to have other people that
08:10
can do some of the lay legwork
08:11
especially if you have a w-2 and you’re
08:12
still kind of juggling it
08:13
yeah no that’s and that’s a big most
08:15
people don’t just quit their job the
08:17
first time they hear about multi-family
08:18
right
08:19
so it’s even more important to have the
08:21
right partners and the right team
08:22
members whenever you’re starting off and
08:24
you’re juggling those two worlds
08:26
right because you’re gonna have even
08:27
less time on your hands and i’m sure
08:28
your family
08:29
would appreciate it if you had some
08:31
partners that can help kind of pull the
08:32
weight
08:33
a little bit too right so pause right
08:35
there monday mondays are this every
08:36
monday
08:36
at 3 30 central today we’re talking
08:39
about building your business plan as a
08:40
syndicator right
08:41
but we talk about all sorts of topics if
08:42
you have ideas for future topics let us
08:44
know
08:44
we’re happy to kind of put something
08:45
together and if you have any questions
08:47
go ahead and plop them down and we will
08:48
answer them live here in a minute
08:50
all right all right we got any questions
08:52
any comments ernest what’s up ernest
08:53
long time to see he says
08:54
he wants a copy of our business plan
08:56
ernest you know our business plan right
08:58
to take over the world state secret my
09:00
friend come on now marty says i’d like
09:02
to know how much cash flow you’re
09:03
bringing in
09:03
hey marty it’s kind of like what i was
09:05
mentioning i think that’s a statement
09:07
i mean it varies a lot by person i mean
09:10
you know by company right absolutely
09:12
really and as a syndicator
09:14
the biggest upside you make is actually
09:15
on the exit side so it’s very tied to
09:17
that as well
09:18
yeah i mean you’ve got certain fees like
09:19
i talked about asset management fees
09:21
some people take an acquisition fee some
09:22
firms take other stuff
09:24
we typically only take those two right
09:26
and then there’s exits
09:27
right you know but also we’re investors
09:29
in other stuff too right so there’s
09:31
other money coming in from those
09:32
investments as well right
09:34
yeah so ronnie says what’s up guys see
09:35
y’all this weekend
09:37
we’ll see you in a couple days ronnie
09:39
you’re gonna better be strong for the
09:40
for the
09:40
savion savion we are gonna meet savion
09:43
finally face to face
09:44
all right you know who all is going to
09:46
the infant conference this weekend
09:48
i’ll be there then i’ll probably be
09:50
there too unfortunately ben’s still
09:52
coming
09:52
ouch um it’s gonna be the first time
09:54
that i’m gonna have worn my suit in a
09:56
year
09:56
no really i was actually thinking that
09:58
too i’m like you know lucky i’ve gained
09:59
some weight since the last time i wore
10:00
that suit hopefully i’m gonna have to
10:01
get a haircut so i’m gonna have a
10:03
freshly shaved head i’m excited about it
10:04
so it’s a it’s an opportunity
10:06
for me to clean it onto the hair so
10:07
there is hair that grows there’s a
10:09
little bit of hair yes
10:10
you probably can’t see it you know
10:11
there’s a little bit on the side there
10:13
yes
10:13
i do have hair it just doesn’t grow all
10:15
over my hands good to know good to know
10:16
all right
10:17
so back to this all right so you know
10:19
once again we’re talking about it in
10:20
terms of both the property as well as
10:22
as a multi-family syndication business
10:25
so renovations
10:26
is part of that too construction
10:27
management fees is another you know
10:29
thing that you know probably bigger
10:31
firms would probably take on
10:33
right and what is that what does that
10:34
entail right there’s going to be these
10:36
properties that
10:37
sometimes have a million million and a
10:38
half in rehab that’s a
10:40
significant rehab budget right there’s a
10:42
lot of moving pieces to that not only
10:45
soliciting bids and getting the right
10:46
vendors to do the work but then making
10:47
sure that the vendors do
10:49
the work on time and on budget
10:51
submitting draws and
10:52
and chasing after the lender which is a
10:54
full-time job ask us
10:55
how we know because i help with that
10:57
process right now right no along with
10:59
our asset manager
11:00
um you know so renovations and and
11:02
keeping that construction management
11:04
side of the business moving in the right
11:05
direction too that’s huge
11:07
right um once again kind of talking
11:09
about in two different
11:10
you know aspects the debt side right you
11:14
know
11:14
from the property level obviously you
11:16
always want to put the right debt on
11:17
there
11:18
um you know but you know as a business
11:20
right do you want to take on a loan
11:22
for whatever expansion reason to
11:26
buy this piece of equipment or that
11:27
piece of equipment i can’t really think
11:28
of there’s not a lot of
11:30
big capital items that you’re gonna have
11:31
to do as a multi-family syndicator right
11:33
but there is obviously options out there
11:35
right um
11:36
financial projections um investor
11:38
returns right you know our whole
11:39
business model is
11:40
is based on buying properties uh
11:43
increasing the value increasing the cash
11:45
flow
11:46
and then distributing those out to our
11:47
investors right so you need to obviously
11:49
understand how that works
11:51
and make sure that you can you that’s
11:53
sustainable right
11:54
yeah and you know this is where it’s all
11:55
the parts of the business plan right our
11:57
business plan is to provide our
11:58
investors
11:59
with quality investment opportunities to
12:01
yield a
12:02
eight to ten percent average cash on
12:04
cash with a certain irr
12:05
with a certain fee structure right it’s
12:07
really defining that and then build that
12:09
company that business that
12:10
playing around that yeah absolutely
12:12
right you know and then we kind of
12:14
talked about fees a little bit before
12:15
right structure fee splits
12:17
you know um you know let’s talk about it
12:19
let’s take a 40 000 foot view and look
12:21
at it from a partnership standpoint
12:23
you know you can have different
12:25
structures there too
12:26
right just depending on what everybody’s
12:28
role is you know and then filtering down
12:30
to the property level
12:31
you can carve that property deal up a
12:33
thousand different ways
12:35
right you know and you can have a
12:36
thousand different fees it seems like
12:38
you know once again we only have two but
12:40
we’ve seen other people that have
12:41
probably half a dozen
12:43
um and god bless them that’s fine that’s
12:44
just not our stick right first tuesday
12:46
of the month donut
12:47
fee yeah right something so i mean
12:51
obviously that fees is part of your
12:53
revenue right and
12:54
if your investors are good with that we
12:56
say roll with it right you know i mean
12:58
i always say that everything is up to
12:59
negotiation right if that person on that
13:01
side of the table
13:02
is cool with that fee or that split or
13:05
that structure
13:06
and you are too and then in my mind it’s
13:08
a win-win even if it’s
13:09
ninety percent in your favor and ten
13:11
percent in theirs if they’re cool with
13:12
that ten percent
13:13
then why not do it right you know um so
13:16
that kind of
13:16
ties back to the revenue that you’re
13:18
going to see in your multi-family
13:20
syndication business right
13:22
uh once again post acquisition schedule
13:24
right you know um
13:25
you know i would say you know post
13:27
acquisition we go back to you’re just
13:29
gonna have to have the asset management
13:30
stuff that’s um you know not stuff but
13:34
stuff that you would have to do with
13:35
asset management because you have to
13:36
ultimately execute your business plan
13:38
right you know um but what else am i
13:41
missing man this is kind of tied a
13:42
little bit to the property
13:44
you know and we’re kind of we’re talking
13:46
more about the metric side but each one
13:47
of these things has a whole initiative
13:49
behind it right oh yeah we could talk
13:50
about
13:51
you know okay providing investors with
13:54
investment opportunities great how do
13:55
you find the investors how do you find
13:56
the opportunities
13:57
how do you find the people to help you
13:58
find the investors or the people to help
14:00
you find the opportunities
14:01
how do you manage the opportunity to
14:02
perform and hit your metrics each one of
14:03
these things has got
14:04
a whole slew of things that go into it
14:07
absolutely this is purely kind of the
14:09
the high level business plan that
14:10
helps i think for people that are newer
14:12
in the business start to get clarity
14:14
as to you know what they need to do and
14:16
how they’re doing and i think that your
14:18
business plan will change right
14:19
what you’re doing the first couple years
14:21
might be different than what you’re
14:22
going to do the next couple years after
14:23
that right you get to a plateau i always
14:25
kind of tell people like this you
14:27
you’re like a rocket ship and then you
14:28
kind of get here right okay how do what
14:30
else do i need to do to get up out of
14:32
that plateau
14:33
and sometimes that might be taking on an
14:35
additional partner that might be okay
14:37
hey
14:38
now we’re going to look in a different
14:39
market because these deals have kind of
14:41
dried up over here right
14:42
you know it’s not an infinite well right
14:44
you know as much as we’d love to say you
14:45
know
14:46
one of these markets that we’re in i
14:47
mean we love atlanta but it’s extremely
14:49
hard to find a deal in atlanta now
14:51
right and we thought we were going to be
14:52
in atlanta for the rest of our careers
14:53
right so you’re kind of pivoting and
14:55
looking at different markets because
14:56
you’re always looking for your next
14:57
opportunity
14:58
right so that can change your business
15:00
plan too right because
15:01
you know maybe you’re set and doing
15:03
really well in texas and then you
15:04
figured out i can’t buy any more deals
15:06
in texas
15:07
now what so you got to pivot right so
15:09
that’s all big part of running a
15:10
business too
15:11
and ultimately always looking for
15:13
opportunities where you can increase you
15:14
know your revenue coming in your cash
15:16
flow
15:16
um you know i’d also say when you get to
15:18
a certain point it can’t be
15:20
the ben and ferris show anymore you know
15:22
and i think that that was one thing that
15:24
differentiated us from um
15:26
a lot of other firms you know that might
15:28
even be you know
15:29
3x bigger than us you know we made the
15:31
we
15:32
we made the decision to go ahead and
15:34
hire on staff and hire on team members
15:36
we invested in the team
15:37
early on yeah early on to help us grow
15:40
and i’m glad that we did right and we’ve
15:41
had our own challenges right
15:43
you know but we’ve brought on a bunch of
15:44
rock stars that have helped us grow
15:46
right and that has taken the burden of
15:49
all the whole entire process
15:50
off of our shoulders right you know and
15:52
a lot of people they
15:54
they don’t know how to how do you go
15:55
find an employee how do you manage an
15:57
employee
15:58
you know that’s a whole another part of
15:59
that’s another another state secret
16:01
you know right yeah i mean and so you
16:03
you need to have the right team members
16:05
around you to be able to take you to
16:06
that next plateau
16:08
because ultimately even if you have two
16:10
great partners and they’re working
16:12
60 70 hours a week you’re still not
16:14
going to have enough time
16:16
to do everything that you need to do to
16:17
go scale that up to 5 10 15 000 units
16:21
so what did i miss man i went through
16:23
that really really quick quickly so
16:24
hopefully
16:25
you know somebody might have some
16:27
questions no i think i mean yeah so
16:29
monday mondays
16:30
every monday 3 30 central talking about
16:32
building your business plan i don’t know
16:33
what we’re talking about next week yet
16:34
we’re going to find out soon
16:36
but if you have ideas for future topics
16:38
let us know if you have comments and
16:39
questions go ahead and ask them we will
16:41
answer them live right
16:42
usually we spend the first 15 20 minutes
16:44
presenting the last 10 minutes q a
16:46
and we apologize we weren’t on last
16:48
monday thanks to our houston
16:50
apocalypse snow pockets and you know
16:52
we’re still warming up a little bit here
16:54
so
16:54
yeah i’m on top of it i don’t know about
16:56
you man i don’t know man you’re kind of
16:58
you’re a little
16:58
dry today not not very exciting ouch
17:01
ouch
17:03
so let’s keep going then all right
17:04
anybody get any questions on that
17:06
and and once again folks i mean i know
17:07
the people that that that listen to us
17:09
or tune in right
17:10
they’ve probably built teams you know
17:12
add some add some color to this too
17:15
right in the comments for folks that
17:16
have maybe you’re starting off you know
17:17
what have you done
17:19
you know that might be different than
17:20
what we’ve done or might be better than
17:22
what we’ve done
17:22
you know i’m not saying that we that
17:24
everything that we’ve done is
17:26
is sunshine and roses either and i’ll
17:28
add two right
17:30
and this business is not an easy
17:31
business right no it’s stressful too
17:33
it’s stressful it’s a rewarding business
17:35
right you can really grow
17:36
but i mean don’t go in thinking it’s
17:38
going to be easy this is where it’s
17:39
important it goes back to having a team
17:41
whether it’s third party for different
17:43
roles like your lawyer or your cpa
17:45
or it’s immediate first party right
17:47
build go in with that mindset that it’s
17:48
not going to be a quick buck
17:50
you have to build processes build
17:52
systems build a team and then you can
17:53
continue to grow
17:54
you know as a company and then really
17:56
the upside is where it’s at so
17:58
yeah and that’s a good point right
17:59
because i think i think people get kind
18:01
of real pumped up
18:02
at boot camps and you know weekend
18:04
events
18:05
and thinking hey i can retire in three
18:07
to five years it just doesn’t work like
18:09
that
18:09
you know i mean ultimately if you really
18:11
want to do the business the right way
18:13
you realize that it turns into a job
18:15
right you know
18:16
it’s a career it’s a job that and it can
18:19
still be fun and rewarding like you said
18:21
but
18:21
you know it’s not like you’re just going
18:22
to be able to go out and buy you know 10
18:24
20 properties 2 000 units and just sit
18:26
back and let the money roll
18:28
in it doesn’t work like that you’re
18:29
working every day every week every month
18:32
on this thing so what do we got man we
18:35
got the toolkit that’s it
18:36
so let’s keep going then so
18:38
disruptequity.com
18:40
toolkit right we talk about all of these
18:42
different checklists
18:44
all of our webinars all the podcasts
18:46
that we’ve been on
18:47
right you know all kind of condensed
18:49
into this one thing and we’re continuing
18:50
to update that shannon was working on
18:52
this last week
18:53
right so this is not some stagnant thing
18:55
right it’ll continue to be
18:56
it will evolve but we’re not selling
18:58
anything um
19:00
you know so check that out now we talked
19:03
about what are we what are we doing next
19:04
week what are we doing next week
19:05
time out oh next week we’re doing our
19:08
infant conference so that’s going to be
19:10
exciting which we sold out
19:11
we did sell out a few weeks ago so we
19:13
have a lot of people pinging us sorry
19:15
people for
19:15
yeah we got like 60 people on our wait
19:17
list yeah we’ve got a lot of inches on
19:19
this one yeah
19:19
so that’s what we’re doing in six day
19:21
five days from now so looking forward to
19:22
that yeah we got a lot of we got a lot
19:24
of great people a lot of rock stars
19:26
you know coming in we’re going to be
19:27
obviously you know having dinner
19:29
breakfast
19:29
lunch you know we’re going to three days
19:31
a week so we might gain some weight
19:33
between now and the next
19:34
20 mondays from thursday afternoon all
19:36
the way until probably sunday afternoon
19:38
it’s gonna be a busy couple of days
19:40
you know so but we’re excited about that
19:42
you know we’re gonna see how today or
19:44
how
19:44
saturday goes folks but we are and we
19:46
are anticipating doing some more this
19:48
year
19:48
yeah we are together down and pick a
19:50
date on that yeah we got to pick a date
19:51
we got to pick us
19:52
it will probably be on the west coast
19:54
i’m assuming probably san francisco if
19:55
san francisco is still
19:57
you know open for business when this is
19:58
all said and done you know but
20:00
you know that will be for our west coast
20:02
peeps that you know uh can’t make the
20:03
trip out to
20:04
houston so otherwise what are we talking
20:07
about next week ben
20:08
what are we talking about how do people
20:09
like how i turn that question around on
20:10
you that’s how you thank your market for
20:12
multi-family investment right so
20:14
you know we’ll kind of talk about our
20:15
markets why we like them
20:17
you know it’s it’s not those are not
20:19
state secrets you know a lot of the
20:21
markets that we’re in other people are
20:22
into right it’s
20:23
because of some of the reasons that you
20:25
know we’ve talked about in the past
20:26
right population growth job growth
20:28
landlord friendly tax friendly right you
20:29
know that’s that’s not
20:31
crazy complicated stuff to kind of keep
20:33
up with right and it’s all
20:34
readily available but we’ll talk about
20:36
it because some people
20:37
want to invest other markets for other
20:39
reasons right so we can kind of talk
20:40
about that too
20:41
but uh once again we want this to be
20:43
interactive so if there is
20:44
topics that you want to talk about we
20:47
want you to reach out to us let us know
20:48
what those are we can get into the queue
20:50
um you know we’re typically doing these
20:52
two three four weeks out
20:53
um but we do want to hear about it right
20:55
yeah absolutely so
20:57
what else we got man i think that’s it
20:58
so if anyone has any more comments
21:00
questions go ahead and ask them
21:01
otherwise we will call it a wrap here
21:03
caught in a wrap already i know it’s
21:05
been quiet it’s already four yes we’ve
21:06
got a million questions
21:08
it’s already four sorry i’ve got another
21:10
couple minutes all right well let’s
21:11
we’re just gonna sit here and stare
21:12
directly so if anyone has comments
21:14
questions go ahead and ask them
21:15
otherwise we’re going to call it a rap
21:16
in
21:17
one minute one minute all right someone
21:19
asked questions i need i can’t stand
21:21
here and bend continue just to yabber
21:22
come on people
21:25
no offense no offense ben all right i
21:28
just can’t keep silent
21:29
it’s just this is not in my cards man
21:31
it’s probably the coffee that they
21:33
yeah before i got here we did get coffee
21:36
this time ronnie so
21:38
luckily starbucks is open again going
21:40
twice we’re a little disappointed
21:42
all right let’s call it a wrap then
21:43
money mondays every monday 3 30 central
21:45
we will see you all again next week

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