Top 3 Questions To Ask Before Buying Multifamily Real Estate!

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This Money Monday$, learn about the top three questions that you should ask before buying multifamily real estate!

VIDEO TRANSCRIPTION

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yeah we would have been on time but then
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ben was slacking and messing around so
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that was
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definitely not my involvement it was
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absolutely your fault
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but all good all good uh all right what
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are we talking about today man
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top three questions to ask before buying
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multi-family real estate and it’s really
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top three principles right things to
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consider
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as you are looking to get into your
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multi-family career or continue on your
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multi-family career yeah i think it’s
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important folks right you know i mean
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you
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every deal that you’re looking at you
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we’ve talked about this in the past
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right you have to have your box
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right what’s my criteria and does that
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deal
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fit within that box right now there you
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can you can spread the box right the box
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is
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bendable and can go different ways right
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but you don’t want to break that
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right because otherwise why are you
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you’re going to be looking at a deal in
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topeka kansas down to florida over to
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boston to
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to california right you know and you’re
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never going to actually end up finding a
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deal because you’re not specializing on
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certain markets and looking at certain
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assets
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so um i would say the first question is
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does it fit those return metrics and
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does it fit the actual deal
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size and vintage that we’re looking at
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right you know for us
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we typically look at 150 units and above
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a minus b class assets with the
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value-add component it doesn’t mean when
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i say value-add
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that does not mean you know broken-down
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boarded up
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abandoned type stuff right but something
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that either is a management play or you
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know maybe it’s just a tired asset
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right and then ultimately we’re trying
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to focus on primary markets
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so we’ve got three that we’re focusing
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on which is
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san antonio central texas houston which
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is where we’re located at
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and then atlanta you know we’ll
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ultimately look at different locations
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if people bring us deals they want to
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partner on them but those are the ones
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that we’re focusing on so it’s a
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i’m a big proponent of specializing and
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then you can kind of go out and go
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horizontal from there right you know
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dive deep into certain things
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so first and foremost make sure your
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deal
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fits in your box yeah that’s a given but
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that’s not yeah
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that’s a big that’s a big question right
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yeah because i mean we’ll look at it
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yeah i mean you showed us something
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right the broker had given us infinite
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deals out there
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and yeah you saw my list yeah i mean
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like you know we can x out you know half
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of those because they don’t fit in our
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box right even though they’re in
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literally
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you saw my list i sent him 10 minutes
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ago yeah right
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10 15 deals 15 deals and of them four of
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them
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smelled like they might be something we
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want to look at right and we have a
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whole team behind us we have resources
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but even then we’re still trying to
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limit it because again there’s a lot of
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deals out there
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right don’t waste your time with all the
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different deals yeah
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you know i mean and i would out you know
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ultimately kind of move it along right
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because we’re talking about now
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this might not be the top three but this
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is just questions you need to ask right
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you know i mean where are what is your
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business plan gonna be
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right because you know if you’re if
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you’re stepping into a deal that’s fully
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uh rehabbed which is deals that we’ve
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seen they’re called turnkey deals
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right and you’re gonna try to put ten
02:49
thousand a door into that deal
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your business plan is gonna fall apart
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almost immediately right first of all
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your lender’s gonna say you’re crazy
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the deal looks great you can’t force any
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more appreciation right
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so you ultimately need to have that
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story and what is the the business plan
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gonna be
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you know ahead of time and you need to
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ask yourself that question right because
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the deal might look great on paper but
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when you really start kind of getting
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into it you’re like yeah there’s not
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enough meat on the bone for this deal
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right so make sure and this kind of goes
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back to maybe even your box too right
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you know that that business plan works
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for that asset
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right i’d also say you know i mean you
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know
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what is the where’s the location at
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right you know i mean is there
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something substantial that goes along
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with
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where you’re investing in you know we’ve
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seen eight cap deals even eight caps
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in this market we’ve seen right but they
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ultimately end up being in tertiary
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markets that
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you know it’s a one factory town or it’s
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got one thing that’s going for
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what if that one thing goes away right
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so you gotta you gotta really go back to
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stay in your lane folks you know but
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that’s a question you gotta ask right
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does this
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even though the deal looks great on
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paper does it make sense
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you know um just from a common sense
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standpoint right you bring up a good
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point and we
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we’re constantly coaching people on this
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is step back from your underwriting
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and just get a feel for okay when you go
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to sell it right
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when you get you know we see 70s assets
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that are trading for
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a ton of money and then you’re just like
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okay to exit this deal and make the
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return that i need
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right uh can i sell it for 200 a door
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maybe maybe not who knows right there’s
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a fill right going in if i can build it
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for 150 a foot should i pay 190 a foot
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for this deal yeah it doesn’t make sense
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right no it makes no sense right but and
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then there’s a ton of people
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hey hey there’s a ton of people that
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will do this right they’re just they’re
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so
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fixated on the numbers that they don’t
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step back it’s like you can’t see the
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forest through the trees right
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and so you need to you need to really
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focus on that so
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i know i’m kind of bouncing around but
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i’d say first and foremost top question
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is
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does it fit my box right you know from
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an investment
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standpoint second is what’s the sub
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market
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does that fit within my box right you
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know and then i would say third question
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do i have the team in place in this area
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or this sub market or this city
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to pull this off right and when you’re
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starting off i’d say having boots on the
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ground and having a great property
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management company or maybe having po
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in fact you want to have both if you can
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is probably one of the most important
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things that you can have right
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because if you don’t have the right team
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in place and ask us how we know
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right we’ve had some bad property
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management um you know
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scenarios in the past and that’s why we
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ultimately started disrupt management
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which is our property management company
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you know you’re gonna you’re gonna get
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into trouble almost immediately right
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so ask yourself right does it fit the
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box
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is it in the market that we wanted we
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want to be in right because some people
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want to invest in certain markets for
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certain reasons right and we’re not
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getting into the markets we’ve done that
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in another show
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so we won’t talk about that necessary
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here and then ultimately do you have the
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right team in place right
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and that could include boots on the
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ground could that include property
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management that could include your
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general contractor right
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if you have one of those off that could
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be a big problem
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right but you know if you’re starting
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off at your first deal
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i would say definitely try to see if you
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can get boots on the ground
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um even if you have to give up a little
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bit of gp right you know somebody
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say for example you’re trying to invest
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in houston i’m not saying you got to do
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this for us folks but
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if you if you needed boots on the ground
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right you could come in and say hey
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ben ferris i got this great deal on this
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part of town you know which would be
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open to you know hop it on the gp right
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and you know ultimately we’d offer you
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know kp services and and just being
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boots on the ground for you but
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that is more comforting to your
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investors than saying oh
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i’m going to fly in from boston to
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houston trust me i’m going to do it once
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or twice a month right
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logistically that doesn’t make a lot of
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sense so that’s another question that i
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think is important is
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who’s the team yeah and where are they
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located yeah it’s all about
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team right you kind of quickly realize
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that there are you know whether
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for better for worse there’s a lot of
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people that it takes to kind of get
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these deals going
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yeah and you can’t control it all right
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so you have to have people that you can
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trust
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and rely on right whether it’s a
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property management company an in-house
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asset manager or whatever that looks
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like
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so yeah yeah you don’t want to babysit
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babysitting is not the best season most
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people’s time so no it’s not right you
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know and
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and i’d add general contractor too right
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because if you’re doing these value ad
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plays like we typically do
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you want to have that right gc on that
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right project right and
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and most of the time you know after a
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couple projects you’re going to get a
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feel for which ones you like and which
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ones could do a good job and you know
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maybe
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you know which ones have the best
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pricing you know you want to make sure
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that you’re marrying the right deal to
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the right contractor and vendor
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you know just like with the property
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management companies right you know i’m
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not going to go get a graystar
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who is known for being kind of the a and
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b class
07:44
property management company in fact
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they’re the biggest ones in the world
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and go have them do some c
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class value-add deal in south atlanta
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they’re not going to be successful
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now they’ll probably tell you that they
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can pull it off and maybe
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you know one out of 100 times they might
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be able to most the time they’re gonna
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fail
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so once again it goes back to having
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that right team
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in place so to recap top three questions
08:07
that you’re asking yourself before
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you’re buying or even getting into
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looking at a multi-family deal does it
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fit my investment criteria
08:14
is it in the sub market that you know i
08:16
want to be in and do i have the
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resources
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and team in place to pull this off those
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are probably the top three things that
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you want to ask yourself before you
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really are digging into deep onto a deal
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now some of those things you can solve
08:28
along the way right team is something
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that
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you maybe don’t need to necessarily do
08:32
before you underwrite the deal but you
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need to understand your markets you need
08:35
to understand what invest
08:36
investment returns your investors are
08:38
looking for in order for you to be able
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to look at the right deals right
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if your investors are looking for 20 irr
08:46
right you know i’m going to tell you
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right now you’re not going to get an a
08:49
class on a primary market that’s going
08:50
to get that much return
08:52
right so you also need to understand
08:54
that you know your return profile might
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dictate
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what type of asset you’re going to go
08:58
into and what kind of you know vintage
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and
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what kind of business plan you have to
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do so take that into consideration as
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well
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so there’s probably dozens more
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questions and i’d encourage anybody to
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drop those in the comments you know
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things that you guys look at right we
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want this to be interactive so
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you know at the end of the day what do
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you guys look for whenever you’re
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looking at a deal
09:19
what are the most important things that
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you ask yourself before you really kind
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of
09:23
you know pursue something and really
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dive into it because it takes a lot of
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time
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i mean each deal that we’re underwriting
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i mean you’re taking you know
09:30
two hours three man hours you know and
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so you have to you have to really see
09:35
how can i weed out some of the ones that
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aren’t going to make sense right off the
09:38
bat
09:39
so that was pretty quick man i know it’s
09:42
scrolling let’s keep rolling all right
09:44
any questions let’s see
09:45
there’s definitely some so if you have
09:46
comments questions please go ahead and
09:48
chime in
09:49
we’ll read them out loud but let’s see
09:51
so ali on youtube says are you guys
09:53
interested in investing in other
09:55
industries in the future like health
09:56
care
09:56
energy leveraged bias i will answer that
09:59
one i would say we are opportunistic
10:01
yes multi-family to z but we’re open to
10:04
other ideas other concepts so
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and i think you might have asked
10:07
something similar in the past man you go
10:09
ahead and reach out to us you know
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let’s talk about what you what you might
10:12
have in the pipeline uh you know i mean
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we’re disrupt equity we’re not disrupt
10:15
multi-family that’s what we do
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right now that’s kind of our bread and
10:18
butter and we’ll always probably have
10:20
that as part of our portfolio
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but we’re rolling out some other
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exciting projects too so we’re
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ultimately open to
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the right deal right so let’s see so our
10:28
buddy and all says hey guys good stuff
10:30
solution is to hire disrupt property
10:31
management
10:33
you know we’re we’re good we’re we’re
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good here in texas right
10:37
now trevor our buddy trevor says uh i’ve
10:40
heard they are great property managers
10:42
we are good at things that we are
10:43
improving in others is maybe the answer
10:45
right i mean definitely we’ve learned
10:47
from all the different management
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companies we’ve had we’ve had the good
10:49
the bad the ugly we’ve learned the
10:50
things that a managing company should
10:51
never do because it’ll kill a deal
10:53
so make sure that we can operationally
10:55
you know really make our the properties
10:56
that we manage perform right whether
10:58
first party third party
10:59
yeah right and then you know continue to
11:00
refine other aspects of the business to
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really kind of help us
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you know get everything moving along so
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as you kind of grow yeah and
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once again folks i mean we didn’t we
11:09
didn’t do this just to
11:10
to pitch disrupt management you know but
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i think
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the the meta point as my as my co-host
11:16
likes to say right is that
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you need to pick the right partner right
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and you and a lot of ways your property
11:21
management company is probably your
11:22
biggest partner on the deal
11:24
right because they are boots on the
11:25
ground they are there to execute your
11:27
business plan and if they are not right
11:29
lockstep with you you’re going to get
11:31
screwed very very quickly and i’ve seen
11:33
deals go south within one or two months
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and it’s going to take you probably six
11:37
to 12 months to earn that back
11:39
so just be very careful and and keep a
11:42
close eye on them that’s all i’d say
11:44
all right and then let’s see so trevor
11:46
says would love to do a deal with you
11:47
guys someday we’d love to do a deal with
11:49
you too
11:49
so yeah we’ll see him friday i think
11:52
i mean he’s in austin trevor you should
11:55
come down and see the office man
11:56
no it’s too easy to do it if he just
11:58
drives in from austin okay he’s gonna
11:59
have to go to miami we all
12:00
cause we are gonna see him i think
12:02
friday in miami i’m pretty sure no no
12:03
he’s i think you are going anthony um
12:05
you know but yeah if you write down
12:06
right up the road or heck we can even
12:08
come see you in austin i’d
12:10
it’s a lot more fun to go to austin than
12:11
it probably is for him to come down he’s
12:12
going to be stuck in a car next to ben
12:14
for a few hours
12:15
we do need to see some brokers though we
12:17
need to make a trip yeah we need to see
12:19
we need to yeah luckily our team is
12:21
continuing to grow
12:22
so me and ben’s time should hopefully
12:24
come back we’re hired on
12:26
three new people this past week yeah
12:28
we’re excited about that people yeah so
12:30
and more to come so we are excited yeah
12:32
let’s see so ollie says
12:34
uh what are your thoughts on the houston
12:36
guy nate paul from world class holding
12:37
with no real estate experience was able
12:39
to build a billion dollar real estate
12:40
empire and it’s facing fast
12:41
i know i know nate uh i don’t know him
12:44
personally but i’ve read his story
12:46
and i think it’s very interesting i
12:48
think it’s a it’s a tale of
12:50
caution that um you know scaling too
12:52
quickly and making promises that you
12:54
can’t deliver on
12:55
fraud right there’s allegations of fraud
12:57
i mean there’s know who you’re working
12:59
with
12:59
right and you know there’s a lot of
13:01
smoke and mirrors in this business
13:02
unfortunately there’s tons
13:03
maybe we should maybe we should talk
13:05
about that you know i think that’s
13:06
actually a whole episode on that yeah
13:08
there’s a lot of smoking mirrors know
13:09
who you’re investing with know who
13:10
you’re partnering with right
13:12
understand do they have a team have they
13:13
you know and it’s okay to be new too
13:15
right yeah i mean totally
13:16
everybody starts somewhere but
13:17
understand just what that person has
13:19
accomplished
13:20
and not accomplished and you know know
13:22
that going in right
13:23
and just be you know leery of people
13:26
that may stress the truth
13:28
that’s true that’s true and it happens
13:29
quite a bit right so do your due
13:30
diligence folks right you know i mean i
13:32
think that that’s important from a
13:33
passive investor standpoint i know a lot
13:34
of the
13:35
the the presentations that we give is
13:37
going to be kind of more syndicator or
13:38
sponsor centric
13:39
but as a passive investor right do your
13:41
due diligence ask questions right you’re
13:43
you’re entitled to do that these that is
13:45
your hard earned money
13:46
and if somebody’s not willing to answer
13:48
those questions about maybe their
13:49
background or their experience
13:50
right maybe they’re not the right person
13:53
doesn’t mean that they’re a bad person
13:54
but
13:55
you know we tend to probably over
13:56
communicate especially me
13:58
you know as he always likes to joke
13:59
around can’t get the guy to stop talking
14:02
be honest but that’s the good that so we
14:05
we communicate the good the bad and the
14:06
ugly
14:06
and i think that you need a sponsor
14:08
that’s going to do the same and and you
14:09
know the nate paul story is a tragedy
14:11
because it really
14:12
it paints syndicators and sponsors in a
14:14
bad light and there’s been other ones
14:16
that have happened over the years
14:18
but uh you know there’s always going to
14:19
be a few bad apples unfortunately
14:21
so let’s see so trevor says see you in
14:25
miami we’ll see you there
14:26
all right so i’d love to come see you
14:28
guys in houston come on down
14:29
i mean we we we’d like people wednesday
14:31
all right well we’ll talk about it
14:32
shanna real quick what’s when’s our next
14:34
meetup our next first thursday of every
14:36
first thursday
14:37
first thursday yeah the first thursday
14:39
of every month is our meet up that is
14:40
the best time to come down to houston
14:42
not the pause because i was like wait
14:43
it’s not the second third the first
14:44
third well there we go
14:45
we just had the first one this last
14:46
month that we said we’re still kind of
14:47
getting a hundred and ten
14:48
we’re brushing people out so we’re
14:50
brushing
14:52
visit houston come out thursday we have
14:54
our meet up you come hang out with us at
14:55
the meet up
14:56
come by the office before or the next
14:57
day you know let us know in advance so
14:59
we’ll happen to coordinate
15:00
yeah but you kind of get a double whammy
15:01
between the meet up and just seeing a
15:03
lot of the houston group
15:03
that’s the best that’s the best way to
15:05
do it definitely let’s see so
15:07
continuing down nick nick child says
15:09
flat roof seem to be a negative with
15:11
agency debt lenders due to higher
15:13
long-term capital expenditure costs do
15:15
you try and stay away from flat rates
15:16
we’ve done flat rate deals you know i
15:18
don’t remember the lender
15:20
pushing back too much on them i mean
15:21
maybe that maybe if it’s older maybe
15:23
your capex reserves are higher so
15:25
therefore they’re underwriting it
15:26
differently
15:26
i mean you know i mean it’s against the
15:27
point it’s really not you man you go
15:29
into it knowing where your capex is
15:30
right if i have a
15:34
i’m trying to think of something
15:35
ridiculous let’s say i have we’ve seen
15:37
we’ve seen properties with the lake if i
15:39
have the lake and that lake
15:40
has a four thousand dollar a month fee
15:42
to maintain that lake because we’ve seen
15:43
that
15:44
example right well then you know it’s
15:46
part of the deal like you just know it’s
15:48
going in you have to budget for us
15:49
same thing if i have an old roof or you
15:51
know i have a bunch of flat roofs i mean
15:52
you have to understand what you’re
15:53
getting into
15:54
it’s all part of the numbers and it’s
15:55
okay i’ll buy a flat roof i mean guess
15:57
what those class a luxury wrap around
15:59
the five minutes
15:59
oh i’ve got flat roof right so it’s got
16:01
that tpo the one thing that i would say
16:02
about flat roofs right
16:04
sometimes they’re not done properly and
16:06
that and then you’re you’re literally
16:07
scraping
16:08
layers of upon layers of just bad roof
16:11
off of there and that’s where your costs
16:13
are going to go up exponentially
16:14
you’re going to ask ben to do your flat
16:15
roof you’re probably doing it wrong
16:17
no no but i mean i know enough about it
16:19
because we’ve owned them and we’ve had
16:20
to replace the flat roofs right
16:22
i mean we’ve had actually i think we’ve
16:23
had three or four deals that have flat
16:24
roofs in fact yeah we’ve had four
16:26
and so we do know a thing or two about
16:28
them i have never had a lender push back
16:31
because of that you know unless they
16:33
were just in rotten condition then i
16:34
would assume they would just push back
16:35
anyway right
16:36
just like any other you know uh you know
16:38
shingled roof
16:40
so i wouldn’t and my point is don’t
16:42
don’t shy away from a deal
16:44
because it’s got flat roofs same thing
16:45
with chiller and boilers right
16:47
they’re a big pain in the butt i’d
16:48
prefer not to have a deal that has a
16:50
chiller and a boiler
16:51
but we’ve done really really well on
16:53
those deals too right you just have to
16:54
budget
16:55
the maintenance and maybe a potential
16:57
replacement of those
16:58
over the course of the hold right and if
17:00
your numbers still worked
17:01
i’d say go after it deals are so hard to
17:03
come by right now if you’re gonna
17:05
artificially create a you know uh you
17:07
know
17:08
log jam in your process and what deals
17:10
you look at you’re never gonna find a
17:12
deal
17:12
so um keep chasing those flat roof deals
17:15
is my point
17:16
totally agree no and of course my
17:18
computer just froze
17:19
oh he’s actually doing some kind of work
17:22
here folks right you know i do a lot of
17:24
work around here all right
17:26
um let’s see thought thoughts on sleepy
17:28
joe’s crazy tax plan
17:30
oh we’re not going to get into politics
17:32
now are we because it wants to increase
17:33
capital gains tax all the way up 39
17:35
which is nuts again that’s for people
17:37
that make over 400 000
17:39
that does not apply to most people right
17:41
and again
17:42
but it’ll have an impact we have to ask
17:43
yourself who’s it what is the impact
17:45
relative to you
17:46
do you make more than 400 thousand
17:47
dollars and you could you care do your
17:49
renters make more than 400 000
17:50
so now they’re gonna get hurt right
17:52
probably not your renters because that’s
17:54
i don’t know anyone that they you know
17:55
maybe if you’re like something
17:57
you know i mean it’s not gonna impact
17:59
your renters and you know it’s just
18:00
understanding who it’s going to impact
18:01
is going to impact
18:02
your investors maybe right possible
18:03
investors will have less money
18:05
and so just understand what it’ll
18:07
actually do to you
18:08
and what that impacts you and then
18:09
therefore you know do you need to adjust
18:11
your business plan or not right if that
18:12
goes through
18:13
you know i think right now there’s a lot
18:15
of um
18:16
uncertainty as to what biden’s tax plan
18:19
is going to be and so nobody really
18:20
knows
18:21
right i think that there’s been a lot of
18:22
things from him nixing the 1031
18:25
to bumping up capital gains i think a
18:27
lot of those are just talking points
18:29
that kind of got him into the
18:30
into the office and ultimately when it
18:32
comes down to negotiation with the
18:34
republicans
18:35
some of that stuff’s going to get next
18:36
at the end of the day folks you have to
18:37
realize that joe biden
18:39
among probably all the other democratic
18:40
politicians all have real estate too
18:43
so they’re not going to shoot themselves
18:44
in the foot so you know some of this
18:46
stuff is just for the cameras and then
18:48
they turn around they do these back
18:49
office deals and
18:50
a lot of that stuff’s not going to ever
18:51
happen but if it does
18:54
right as fair says you know just adjust
18:56
your business plan accordingly i don’t
18:57
think it’s going to crush
18:58
the commercial real estate market uh to
19:00
be honest with you because it’s one of
19:01
the most stable
19:02
things to have your money in right now
19:03
especially with inflation creeping its
19:05
head around the corner
19:06
so yep you don’t want to get into
19:08
politics though all right
19:10
let’s see anyone else have any comments
19:12
questions thoughts ideas
19:15
any monday mondays is every monday
19:16
through 30th century talk about anything
19:18
you want otherwise let’s keep going
19:20
we’re gonna keep going all right
19:21
remember this is open q a folks and we
19:23
want people to drop
19:24
in what do you want to hear from us
19:25
right you know we come up with these
19:26
topics we’re trying to add value
19:28
but if you have anything that you want
19:29
us to talk about drop it in the comments
19:31
and we’ll we’ll take into consideration
19:32
right
19:33
but last call so we talked about miami
19:36
what’s happening in miami this saturday
19:38
we’ll all be in miami and our big
19:40
conference is coming up miami so we’re
19:42
excited
19:43
come on down check us out 350 people
19:45
nice
19:46
and so nice looking forward to it should
19:48
be good you know it’s all about
19:49
networking people right it’s
19:50
you’re not there for the speakers you’re
19:51
not there for the content maybe some of
19:53
you are hopefully
19:54
but really you know you’re there for the
19:55
people right get to know the people it’s
19:57
all about relationships right we talk
19:58
about relationships and numbers that’s
20:00
what real estate is made up of right but
20:03
try it out www mf
20:07
put in the coupon code last call get
20:10
that hundred dollars off
20:11
sale ends tonight right let’s be honest
20:13
nobody’s gonna be booking a flight pass
20:15
today anyway
20:16
you know but check it out if you if
20:18
you’re maybe there in the florida area
20:19
or close to it you can make it down
20:21
it’s gonna be this saturday we’ve got
20:22
some networking coming up on friday
20:24
and then we all go home on sunday right
20:26
or maybe you stay a little bit a couple
20:28
extra days like this guys until
20:29
wednesday
20:29
i don’t know turn it into a family
20:31
vacation there’s nothing wrong with that
20:33
so we’re really excited about that
20:34
that’s going to be how many is this our
20:35
sixth one
20:37
good question one two three four
20:41
fifth fifth this is our fifth to the
20:43
fifth i don’t know it feels like a lot
20:45
but we’re going to continue houston then
20:46
la then boston
20:48
then we did houston and then covey
20:51
then houston again after coven oh you’re
20:54
right and then hugh city and after coven
20:56
so yeah six
20:56
sixth all right and we’re gonna continue
20:59
to make this a fun experience like i
21:01
said it’s a lot of networking we’re
21:02
gonna
21:03
change it up a little bit with the
21:04
speakers and how we’re running the
21:06
schedule so
21:06
really exciting event for the folks that
21:08
did already purchase their tickets
21:10
we’re really excited to see you come
21:11
holler at us we’re very approachable
21:13
guys
21:13
love to talk shop as you can probably
21:15
tell and wait a few more things let’s
21:16
see so
21:17
a few more comments chris bounds our
21:19
buddy chris brown says relationships
21:20
matter
21:21
they do absolutely do um omar says
21:25
any chance to attend any probability to
21:27
attend virtually
21:28
no no plans yeah we want to we’ve
21:31
thought about it but we want people to
21:32
come out yeah it’s all about that face
21:34
to face
21:34
it’s it’s it’s about the relationships
21:36
it’s about the networking
21:37
i feel you home or omar’s all the way in
21:39
saudi arabia that could be a problem
21:41
omar
21:42
but you know maybe we’ll do a special
21:44
live stream just for you
21:45
no i mean we we’ve thought about it
21:47
especially when we had houston too we
21:48
were thinking about it but there’s
21:49
logistically there’s a lot of
21:51
you know technical things that we’d have
21:52
to kind of work out and putting on a
21:53
conference as it is is already pretty
21:55
technically challenging
21:57
but we’ll take that into consideration
21:58
on the next one uh because there has
22:00
been
22:00
that question has been asked in the past
22:02
don powalowski
22:04
what resources do you recommend for
22:06
learning about renters rights
22:08
ooh renter’s rights well i mean it’s now
22:10
it’s gonna be
22:11
that’s very specific yeah very specific
22:13
to the state
22:15
so um i would google it i mean i hate to
22:17
say it or maybe go to a local
22:19
you know maybe look up real estate
22:20
attorney you know and then the city that
22:22
you’re in
22:23
and maybe just try to pay them an hour
22:25
fee right you know even 250 bucks
22:27
might be well worth it you know just to
22:29
pick their brain a little bit
22:30
um there’s also just a lot of stuff
22:32
online i hate to really
22:34
you know take a whole lot of legal
22:35
advice from google but you know just
22:37
depends on what your budget is but
22:39
if if if budget’s not a problem and you
22:41
really want to do it the right way
22:42
engage that local attorney they’re going
22:44
to know the real estate laws there in
22:45
your city
22:46
and what tenant rights are um and that’s
22:48
probably the most important thing
22:51
i mean we do the same thing here too
22:52
folks right i mean we have people that
22:54
we have
22:54
in multiple states we are not the
22:56
experts no and even then we still mix it
22:58
up i would say like i kind of can’t
22:59
remember
23:00
you know what the rules are for
23:02
evictions in georgia versus texas right
23:04
you rely on your team your experts are
23:06
there and then are your attorneys
23:10
we’ve got you know nationwide eventually
23:11
there’s there’s a couple of companies
23:13
some of the vendors will help answer
23:14
questions for you in the hopes of
23:15
getting your business that’s a good
23:16
point you know we have an eviction
23:18
company that actually handles pretty
23:19
much a to z
23:20
on the eviction process and they’re a
23:22
wealth of knowledge too is it nationwide
23:24
nationwide eviction check them out
23:26
they’re good guys and gals nationwide is
23:28
on your different cognition
23:30
let’s see let’s keep going not the same
23:32
one um let’s see so ali says i
23:34
appreciate the answer guys you guys are
23:36
probably the most credible and genuine
23:37
characters on youtube thank you thanks
23:38
man we appreciate it i’m glad you are
23:40
here asking questions and what it’s all
23:41
about
23:42
keep it coming man we really appreciate
23:43
that interactivity ben’s trying to get
23:45
all the talking out of his system all
23:46
right if you guys help me get him
23:47
talking now then the next meeting we
23:48
have after this they keep feeding me
23:50
starbucks right before the the show so
23:52
what am i supposed to do here i don’t
23:53
know
23:54
so all right we get it done let’s keep
23:56
going all right so what’s coming up next
23:58
week man what are we talking about tips
24:00
for handling investor relations as a
24:01
real estate syndicator oh and i will not
24:03
be
24:04
here next week but well and he’s going
24:06
to talk about investor relations so
24:07
maybe we’ll have oh my god
24:09
i’m going to stick around like ben said
24:10
a few more days in miami you’re not
24:12
going to try to do it virtually you
24:13
should try to do it you should i could
24:14
come in versus totally do it
24:16
i’ll do it for the beach virtually yeah
24:17
you guys that’d be awesome i’m gonna
24:19
give some thoughts to that
24:20
yeah i don’t know might be a little bit
24:21
loud but we had the technology to pipe
24:24
him in i think that that would be really
24:25
cool maybe we could get you like up on
24:26
the screen
24:26
my phone do it from the screen this
24:28
screen’s hard now we don’t have that
24:29
much contact
24:30
okay all right well we won’t do that
24:32
crazy stuff but maybe we can get you in
24:33
the
24:34
maybe i’ll do it on my phone and just be
24:35
right on the beach just for the fun of
24:37
it
24:37
i don’t know what i’m gonna do without
24:38
you man oh no you’re gonna be hard no
24:39
but we want to be consistent so
24:41
check it out next week tips for handling
24:43
investor relations as a real estate
24:45
syndicator
24:46
awesome thank you guys very much we’ll
24:48
see you next week 3 30 central

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