Insider Secrets Podcast Episode #36
Guest: Abel Pacheco
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Abel Pacheco is a Real Estate entrepreneur from Texas with a proven track record of repositioning properties, delivering quality renovated housing products to market, and delivering consistent returns to investment partners.
Abel has a broad network of experienced and trusted multifamily advisors, attorneys, brokers, property managers, construction managers, investors, and accountants that facilitate the continued success and growth of 5 Talents CRE. During downtime, Abel enjoys travel, family time, practices Kung Fu, and serves as a Deacon at Greater Joy Church.
“I’ve heard ‘No’ probably more than any other salesperson that’s listening to this” – [Abel]
“If you help enough people get what they want, you’re going to get what you want in return” – [Zig Ziglar]
“If we master the repetitious boredom every day, that’s where the success lies” – [Mike]
“Every good business person knows their numbers, so keep track of your numbers cos there are results in the data” – [Mike]
“Knowledge is power but knowledge once you implement it, will change your life” – [Abel]
“Learn, execute and teach” – [Mike]
“The more honest and transparent you are with skills and maybe even your shortcomings, the better it is to find a partner” – [Abel]
“If they don’t know you, they’re never going to be able to like or trust you” – [Abel]
- In one word, Abel describes himself personally and professionally as “Faithful”
- Abel shares that his business growth has been a product of persistence and positivity.
- The Zig Ziglar mindset: If you help enough people get what they want, you’re going to get what you want in return.
- He explains that instead of being focused on the number of ‘Nos’, focus on changing lives with team effort.
- Every good business person knows their numbers, so keep track of your numbers cos there are results in the data.
- The “OODA loop” model as a method when making high stake decisions: Observe, Orient, Decide, Act.
- A lot of people get stuck at the point where they are supposed to “Act”.
- Abel explains his mindset on how people are the best resources available.
- Team building and networking are so important because we’re only as good as the people around us.
- Abel’s insider secret: Explaining his transparency and how he leverages people as a major resource to maximize productivity.
- When trying to build a personal brand you have to create a social presence by first identifying who you want to reach, and sharing your story with them.
- Get the necessary exposure: It is equally important when creating a social media presence to use social media platforms consistently and repetitively to get more engagements.
[01:25] Introducing today’s guest “Abel Pacheco”
[03:30] In one word, how do you describe yourself professionally and personally?
[04:14] Abel shares his backstory
[07:12] Key factors that helped continue the momentum to move from an income of 5million dollars a year to over 57 million dollars a year.
[12:57] Can you share one or two defining moments in your life in the Real Estate business?
[18:11] How Abel makes high-stake decisions in life: the “OODA loop” model.
[22:55] Tell us about one of the best resources out there that you use.
[28:18] Abel’s insider secret
[31:52] How do you go about building a personal brand?
[34:44] What are you working on these days?
[39:16] Best book you have ever read? “How to Win Friends and Influence People” by Dale Carnegie
[40:30] How to contact Abel
Mike: [00:00:00] Hey everybody. Good afternoon. It’s Mike with insider secrets and I am joined today by my guest and friend Abel Pacheco. Hey Abel, why don’t you tell our listeners a couple of things that they’re going to hear today on today’s podcast?
[00:00:28] Abel: [00:00:28] Yeah, we had a great discussion many multiple things, but some of the highlights we talked about eating rejection for lunch, we talked about team building. We talked about sales. If anybody is trying to overcome some obstacles in their life, biggest challenges, and how to, how to make some strategic decisions. And then we had a lot of great discussion about mindset and thought leadership in different platforms and just, yeah, it was a great all-around discussion. I’m super excited for you to have.
[00:00:55] Mike: [00:00:55] Yeah, I’m super excited. You were here. It has been a great discussion and listen listeners. You’re going to have to hear us at 12 o’clock on Tuesday in order to get the rest. Okay.
[00:01:08]Kristen: [00:01:08] Welcome to this week’s edition of insider secrets. The show that turns multifamily investing into reality. Each show we interview guests who are seasoned professionals, actively closing and managing real estate deals. Your host Mike Moraski has more than 30 years of multifamily, real estate investing, and property management experience.
[00:01:30] Mike is the founder of my core intentions. And he’s been involved in over $285 million of transactions focuses on helping you create short-term cash flow and long-term wealth. Here’s your host, Mike.
[00:01:47]Mike: [00:01:47] Hey, good afternoon, everybody. It’s Mike, your host of insider secrets, and that’s brought to you by my core intentions. And I always ask, what are your intentions? What are you been thinking about? What is your why? Let me ask you what really matters most in your life,, in your business.
[00:02:04] You know what MCI we invest in our client’s future through an educational platform. One of the things that we like to teach about is how to create short-term cash flow and long-term wealth while empowering you with using sound real estate principles, to invest and manage your properties. Living a balanced lifestyle and a quality life in real estate can sometimes.
[00:02:29] Be a tough row to hoe, we can tend to get distorted. We get too busy, we get distracted and our balance and our lifestyle gets Rocky. So I like to work with people and see what I can do to help you live a more balanced life. I share a lot of those principles and this is a shameless plug, but I share a lot of those principles in my newly released book, exit plan, your complete guide to multifamily investing and why you need an exit plan before you buy, you can pick your copy up today on my website or at Amazon.
[00:03:05]That’s enough of that. But here’s what I’d like to do is I’d like to introduce our guests today. Cause I am really excited about our guest. I’m joined by Abel Pachinko real estate entrepreneur from Texas. Hey Abel, why don’t you say hi to our guests today?
[00:03:19]Abel: [00:03:19] Hi, Mike, thanks for having me on. I really appreciate it.
[00:03:22] And I appreciate you taking the time to give back, to your network and create some educational content for others people, and just give it out there for free. It’s awesome, man. Thank you.
[00:03:31] Mike: [00:03:31] Yeah, you bet. And I’m glad that you’re here. I just had the opportunity to be on your podcast a week or so ago and it’s been a great conversation and I look to extend that conversation a little bit more today.
[00:03:44]Abel is from Texas, he’s got a proven track record for repositioning properties, delivering quality renovated housing stock back to the market with consistent returns for his investment partners. That’s saying a lot from an investor standpoint. Able to experience in acquiring distressed properties, managing renovations, raising private capital, and managing single-family and multifamily investment properties.
[00:04:12] Abel and his wife live in San Antonio, Texas in 2008. They invested, they have invested. Owned and operated income-producing properties. Abel is invested 93 million of commercial or is invested in 93 million in commercial real estate. It’s about 859 doors. He’s a general partner and principal and 512 doors and a limited partner in 347.
[00:04:39] He’s working through the process of developing 156 door community from the ground up. His wife. Leslie is also a limited partner herself in another 282 doors, but that’s pretty impressive, Abel. I don’t know that I knew all of that about you, but as I continue to get to know you a little more and more here, it’s interesting to see your path of progress.
[00:05:06] Here’s one question I always ask people when I have them on the show is in one word. What describes you professionally and personally?
[00:05:15]Abel: [00:05:15] Faithful. I would have to say that, that’s the one word. faithful and
[00:05:20] Mike: [00:05:20] I would have to say that using a word like that, that, that has to be, you have to be faithful in everything, probably in your marriage, to your wife, in business to yourself personally. That’s a big row to hoe. And can sometimes I’m sure be pretty difficult. Here’s what we’d like to know. Why don’t you talk about your backstory? Cause going through your bio we really talk about a lot of things that you’re involved in and have your hands in, but why don’t you talk about your backstory and tell us how you got to where you’re at today.
[00:05:50] Abel: [00:05:50] Absolutely. So I’m originally from Corpus Christi, Texas. So I grew up near the beach. I spent, the first half of my life there, then I moved to San Antonio, Texas. So we’re Texas family. That’s where the Pachecos are from. And we’ve pretty much stayed here all our lives. When I went to San Antonio.
[00:06:11]It was really to get a degree from the University of Texas at San Antonio. And so I graduated there and, met my wife in San Antonio. She was from San Marcus, also Texas, and we’ve been married for, I think it’s 12, 12 amazing years and probably together for 16 ish. And we have a three-year-old and a one-year-old.
[00:06:32] And so now we live in the Alamo city. So it’s a beach town where I grew up. And then, Alamo city here for the second half of my life, I’ve been an IT tech, sales, professional, and executive strategic director for partnerships. We led a, we had a lot of success on the professional side.
[00:06:49] We went from. My biggest run was probably like $5 million a year to $57 million a year. And that was over the course of about six years. So it just went from five to 12 to 24 to 40 to 50 and had a lot of success. All through that route, we have invested in real estate since about 2008.
[00:07:09] So it’s been about 12 years. And, we, realized early on, I think it was my dad. My dad had his first rental property. So he, while he only had our main, our home, a residence, and the rental, I call that the first-gen real estate investor. And I was the second-gen real estate investor.
[00:07:26] So I followed in his path. We got to about probably the most we ever had was about 10 single-family homes. But I say this. A lot. We went from eight to 800 doors in a little, under 200 two years. And the way we did that was we transfer we basically transferred as much time, effort, and energy as we could from single-family to multifamily.
[00:07:50] And that’s where we ended up today and I can dig in a little bit more or share whatever you’d like to know more on this.
[00:07:56] Mike: [00:07:56] Yeah, that’s pretty interesting. And I, I commend Leslie with two young kids and being in her own investments and in managing her own stuff. That’s a feat in itself, I’m impressed with your growth, right? Those are impressive numbers to go to $57 million in sales. And I don’t, being in the sales industry and coming from the sales industry and selling and. My background is selling real estate. And I understand what that takes and the effort that it takes to do that.
[00:08:24] What do you think some of the biggest components are, or some of the biggest successes were for you along the way that helped you continue that momentum?
[00:08:34] Abel: [00:08:34] Yeah really it was, a lot of persistence on the sales side. I’ve heard no. Probably more than most, I think any other salesperson that’s listening to this, if you’ve been selling for 20 plus years, you’ve probably heard no about the same amount of time as I have, but for anybody that’s not in there, you just got to overcome, you got to put on this shield of.
[00:08:56] Positivity, as people are telling, over and over again, or slamming the door in your face or not even opening the call in the beginning, you just got to weed through that and say, I’m not really in it for all the nos I’m in it for a few people’s lives that I can absolutely change. And I never viewed it as sales.
[00:09:13]It was always the Zig Ziglar mindset. This is what my dad, gave to me. And took it, just all the years, which was, if you help enough people get what they want, you’re going to get what you want in return. And I always thought about it.
[00:09:27]I’m just trying to help the people get what they want. And if I find enough of those people that allow me to help them, man, we’re all gonna win. I’m gonna win. I’m gonna my sales guys are gonna win. My teams are gonna win. Cause at $57 million was definitely not me. That was a team of 60 people six or seven sales managers, a lot of sales folks, operations administration.
[00:09:48]Marketing Legion, is a huge team effort, and it was that bigger team we all won. And so did our customers. And so did our business instead of our company. That’s it’s just like a lot of persistence to deal with all the no’s, a lot of persistence to fight through.
[00:10:02] And then, we ended up affecting a lot of people’s lives and we changed a lot of people’s lives. From our end users to their companies, to our people, to our own salespeople in our own company. So that’s what I learned through that run. I think the most. Man, you said so much there.
[00:10:17] Mike: [00:10:17] I think we could have hours of conversation just on some of the points you made, but I love Zig Ziglar, right? Listen, that he was probably one of the first. Both him and Tommy Hopkins were the two first motivational speakers I was ever exposed to. Yeah. But, a couple of things that you said here rejection, you can’t let it bother you.
[00:10:36] And as much as you can’t let rejection bother you, I don’t think you can let the success bother you either. So when people say, Abel, you are great. What a great job. You do. Great things or able, no, don’t call me again. You come from a place that sounds like where you don’t let either one of those sides really affect you.
[00:10:54] Abel: [00:10:54] Yeah. Yeah. This too shall pass other kind of thing. It’s man, no matter how high. Or how low it’s going to pass. And who cares about yesterday, let’s just keep moving forward. And I want to have, I want to have the best things in life that, you know, God as has put there before me.
[00:11:13] So I’m trying to get everything that I possibly can and, that goes into the faithful for sure. But all of those things.
[00:11:18] Mike: [00:11:18] Nice. Good. Hey, a couple really key things here. I think if we master the repetitious boredom every day, that’s where the success lies. It’s underneath that, right?
[00:11:29]It’s picking the telephone up every day. It’s calling sellers. You might not want to call. It’s not going to endorse. You might not want to knock on it. You master that repetitious boredom. When I was cold calling, I knew that if I knew by making 20,000 dials a year, That I’d sell 125 houses.
[00:11:47] It was just that simple. I made $8 every time I dialed the phone. So yeah. Yeah. It’s hard to, it’s hard to see that when you’re in the middle of it when you do the math, that’s exactly like every time you picked up the phone, it was eight bucks, eight bucks, eight months, eight bucks.
[00:12:00] How many times can I do that? It’s awesome. Okay. Keep track of your numbers. So every good business person knows their numbers. So keep track of your numbers. Cause, cause there are results in the data. You understand the data here. Here’s something you said, though, that really caught my attention.
[00:12:15] You said all the people that you affect along the way. So I had an attorney tell me one time early on in the real estate business, he said, just think about how many people you keep employed by a simple cold call.
[00:12:30] So you pick the phone up and you dial a phone, you got the. First at, and T the operators, the service guys, all those people, because you’re using the telephone, you’re affecting the seller who you’re calling about prospecting, the guy who puts the sign up the closer the house repair guy, the title company, the lender. I think, we actually made a list of about 110 people that are. Directly and indirectly, affected by a simple cold call. Yeah. And when you start to look at it like that, you think, wow, I really play a part in the economy and in how things work, it’s interesting.
[00:13:10] Abel: [00:13:10] Yeah. I never thought about it like that. There’s, I just think about our business and their business and we’re going to help them, and, but th so many other things involved now, especially, so that’s great.
[00:13:20] Mike: [00:13:20] Yeah. Think about when you go to syndicating. An apartment deal, how many people are involved.
[00:13:26]There, countless organizations and teams and companies and they’ll win when we win. Yeah. So I think these are the things that, that we look at that happen in our life or come up in our life. And there are those defining moments. So tell us what one or two defining moments in your life have been in the real estate business.
[00:13:46] Abel: [00:13:46] Yeah. Yeah. Will tell you one, that was the big push between buying more single-family houses and then going into multi-family. I had factored on paper when I was younger. This was probably 26. I bought my first property and we factored in, Oh, this is. How much our mortgage payment is, how much the principal interest taxes.
[00:14:06] Okay, great. We got all that stuff and then we rented it out and we were cashflow positive. We made a few hundred bucks every month and my plan was to buy anywhere between 10 and 15 houses. You have the renters pay them all off. And just, that was my retirement at some point, right? About year number out of the seven or eight property, number five-ish, somewhere in there was one of the renters just absolutely demolished my house.
[00:14:29] And this was, newbie, rookie mistake. I didn’t do as many walk-throughs in that house as I should have. But the time was very quick. It was like a year, I think one year that I didn’t see this house and the year that by man when I rolled up to the house to do a walkthrough, to see what the, what happened and figure out what I’m going to have to do to get this re-rented.
[00:14:53] I see this like 40 yard cubic, 40 cubic yard dumpster in the front parking lot. I go anybody that sees one of those in front of their houses, you don’t even have to go inside. You can just hang tight. This was their move out plan. And there was like automotive parts and, broken terrariums and aquariums.
[00:15:14] And, I saw a room with like tranches and snakes. It was funny, really I think they had taken apart a motorcycle or something inside the house and there was grease and parts. And then D the whole house was like, this carpet ripped up and Hey, it was demolished.
[00:15:26]I see, I didn’t quite factor in this like 30, $40,000 rehab into my plan. And so that was a defining moment for me that said, you know what, if I, now, if I put that pen to paper, Overall of my holdings that would definitely change my cash on cash returns, which I was looking at and how much, total ROI.
[00:15:46] And then I’ve looked at the time and effort and energy, and I go this is, it doesn’t quite scale. I can’t hold the same properties for 10 years. I’m not going to be able to create the passive cashflow that I really was intentionally going after. And then, when I got to. 10 11, 12 houses and you’re going like, Oh man, this is a, this is kinda nuts.
[00:16:05]You it’s, I had a full and all this, I had a full-time W2. So I was working at that professional career that was talking about, I was trying to make this my side hustle and towards the end, I couldn’t do both. And so that was pretty defining. The other part was like at work at this $57 million a year run.
[00:16:22] Actually it wasn’t the year before, so it was 40 something million dollars. We had broken some records. It was amazing celebrating the CEO and president of the company, anyways, one of the top leaders gives me this for a reward for a month. They have this really nice car.
[00:16:38] It’s a called a Racker car. I worked at Rackspace, it hosting company, and they gave me this car and I had it for a month. He was like, we’re gonna give you this reward. It was a Fisker. Karma is 200,000 out of cars, probably more than my single family house. I was living at the door and we drove it around.
[00:16:54] I felt like Batman that if somebody rolled up, look, you look like Batman. It’s just an amazing vehicle. But anyways, that was to cap the year off of success. But I’m sitting in this boardroom with the, you with another like VP of finance, VP of operations. And they’re like congratulating me on how great the year was.
[00:17:11] And then also telling me how my quota was going to get increased the next year over year. And if you’re not an owner of that big quota increase, you’re not the owner of the company. What that means is you’re very little increase of pay a low bigger numbers of sales that you’re going to use to execute, commit you get done.
[00:17:29] And when profit for the company, but unfortunately as an individual. It, wasn’t a great deal of profit for me, for my checkbook. So I think those two things were like pivotal to one. This is, I need to go to multifamily. And then two, I need to figure out a way different way from the W2 job to try to do this for myself.
[00:17:47] Mike: [00:17:47] Yeah. And boy, there is a couple of defining moments in there, but the one that I, that you touched on that I really was when you realized somebody had opened up a Harley repair shop in your living room. And now all of a sudden you didn’t factor in that repair cost, that renovation costs.
[00:18:03] That is a defining moment when we realize, Oh my goodness. Now what? And when that there are so many people though, that happens too, they go. Why would you ever want to do this? And they run the other way, but you ran into it which is, I commend you for that. Cause listen, I’ve been in real estate for 30 years.
[00:18:19] I love the business. And that’s, that goes to passion. Yeah. Hey, how do you make high stake decisions in your life?
[00:18:26] Abel: [00:18:26] Yeah, I have a coach that helped me like. We’ll work through this. I’m glad you asked this question because he was asking me about, all the differences.
[00:18:36] Points decisions, how we’re working through things. And he came back and summarized. I’m not as strategic. My, my wife’s really the strategic one in our relationship, but what he summarized for me, he goes, this is how you’re doing things today. I don’t know if you recognize it or not, but you’re using something he learned about called the OODA or the Odile loop model, O D a.
[00:18:55] And once he broke it down, I go, you know what? I love that. And he goes, I’m sure he loved it because. Whether you’d knew it consciously or subconsciously did it, but this is what you’re doing over and over again. It’s like a success cycle. And what it is observe, Oh, the second O is orient.
[00:19:13] The third letter D is decide, and the fourth letters act O D a observe orient decide act. And I think if you Google it, you’ll see it. It’s like an old military decision loop model. And I think the fighter pilot jet fighters, or, maybe twin they’re twin. Engine airplanes back then.
[00:19:34] However you look at it, they would use this in the air while they were like having a dog fight and going to war. So you got two planes going through, you’ve got to make a decision quickly, you got to move fast and that’s how they called it. The observe orient decide and act. And this is just over and over again because.
[00:19:51] The ups and downs will always come. The problems will always occur. The issues are going to happen. We’re in real estate. As you said, those brows are going to come. It’s not a matter of if they’re going to come, it’s just when and how big of an impact. So you gotta be able to make sure you maneuver quickly, make the best decision possible.
[00:20:06] And so you just observe, what’s going on. I understand. I’m trying to. Trying to gather all the details. I can, all the data points, all the the the market occurrences what’s happening in COVID this year is crazy. So you’re trying to observe and then orient yourself and say okay, where am I in this position?
[00:20:25] What, what am I doing? What can I affect? How can I do that to make, how can I improve my situation? And what’s the best outcome. And then the D’s you got to pick one. This was probably the best course of action. Let’s go. And then where I think a lot of people get stuck in maybe that aren’t in the business that want to get in the business, or maybe they have another second, third, fourth, fifth, 10th, 12th cycle.
[00:20:47] It’s they don’t act, it’s the action that no matter what. Observe orient, no matter what decision is made, because I can make a decision in my head and say, this is what I’m going to do, but unless I act there’s absolutely no chance that’s gonna occur. So it’s just this cycle again and again.
[00:21:05] And if I fail, if I made the wrong. Decision. We definitely acted, but if I made the wrong decision, which happens a lot unfortunately for me, but if I do, it’s that’s okay, because I’m in a new situation. Let’s observe let’s orient. What happened last time? Why did I fail? And what can I do to improve it?
[00:21:24] Oh, I made the wrong decision. Here’s the right decision. Let’s act again. And then you just do this over and over again.
[00:21:29] Mike: [00:21:29] Yeah. What a great analogy, and that’s so true, it’s all in the execution, right? Cause we can get all this knowledge and have all this understanding and that’s only, that’s not there, for years I always really thought that was power, that there was power in the knowledge, but it’s potential power.
[00:21:45] Cause unless you execute. Or act, and you have to make that decision right. To execute knack, to move forward. And that’s what you’re saying. And I thought that was really, you put that really?
[00:21:55] Abel: [00:21:55] Yeah. I picked up a sane and that sane was knowledge is power, but knowledge, once you implement it will change your life.
[00:22:04]Mike: [00:22:04] Yeah. Very good. I heard Jim Rowan yesterday. I was listening to something and I heard Jim Rowan say, learn, execute, and teach. I thought, wow, that’s pretty, and that’s kinda like what you and I both do. We’ve learned we continue to learn. We execute and we teach others, you, you’re great at giving stuff away and providing resources for investors and people to learn and listen.
[00:22:28] And I think we, that’s awesome. What Let’s talk about resources. That you use in your business. And when you talk about systems, technology, people, things like that, you don’t talk about, one or two of the best resources that you have out there that you use.
[00:22:46] Abel: [00:22:46] I like to use systems. I like to use these processes. I am not the best at setting them up. I am not the best at like identifying, where my bottlenecks are in my own, effort and work. And so I would love to tell you that the biggest systems and the best tools I have some technology that I could share, but really.
[00:23:11]It’s people around me because I’ve never invented any wheels, unfortunately. But what I have gotten good at is seeing other people’s successes and finding their systems and their processes, and then trying to bring them over to, to, to my world. So I, I would have to say people is probably the best resource, the best, Is the best tool that I use over and over again because no matter what, new endeavor where we’re taking, it’s like how in the world do I find that, next system or next tool or next process, that’s going to save me time.
[00:23:49] That’s going to save me money. That’s going to have, procreate more efficiency in our business. I looked at like people, me and my partners have overcome. Miles and miles of my shortcomings. And I think that’s why we’ve had a lot of success. And even in my professional career, that was it. Like I found people that were better than me and I put, I tried to put them around me.
[00:24:10]I try to look for somebody. Maybe they weren’t better than me today. But, they were five years the younger, or they just got their degree and we’re not, they didn’t have 10 years of professional success yet. But I looked at them and I said, you know what? That person is doing way more than I was doing at the age of 25 at the age of 30.
[00:24:29] So they’re gonna, they’re gonna surpass me by the time. They’re my age. I need to get this guy around me. And so that’s what I like, I leveraged people, so no end. And obviously, I trained on my coach on my, I try to teach them as much as I can try to give back to them, but ultimately I’m trying to put people that just way better.
[00:24:47]Than me that are around me and, some of the simple tools and things that we use we do have a technology for investor portals. We do have a scheduling link for, in, in my calendar. So I have a Calendly that just allows me to send a link to somebody that can choose an open time.
[00:25:04] And I choose my times that are available and I have one for my podcast. I have one for. Helping people with low loan origination, I do end up doing that on the side too. And I ended up having my investor one and I compartmentalize my day. And then I have the property managers and the asset managers boil down to like weekly call summary of information key performance indicators that we’re looking at on the multifamily properties. And there’s those kinds of systems, but I didn’t start any of them. I didn’t create them. I just picked them up. I saw something somebody else is doing. I go, I need to do the same thing. Bring them over to my business. Yeah. I only asked for a couple, I think you probably gave a dozen or so in there, but thank you.
[00:25:41]Mike: [00:25:41] You mentioned coaching early on and that you’re in coaching and you have a coach in your life. And I really think coaching is important, but two lessons that you talked about that I teach to my coaching clients is one is team building and networking is so important because we’re only as good as the people around us, Zig Ziglar also said that look around the five.
[00:26:03]Closest people to you in your life. And in five years from now, your life will probably reflect them. So if you like those five people, are they doing more than you? Are they earning more than you? Are they, living a lifestyle that’s different than what you’re living, and is that where you want to go, or are you better than them?
[00:26:25]Not saying that. But he was really good about that but that team building and having the right team around you is so critically important because guys like you and we’re, rainmakers, we’re visionaries, we’re big picture people. And we tend to overlook the details that need to be done.
[00:26:44] And so people in our lives that help with that help us a lot. And then systems. After I bought my first multi-family deal and I bet this is similar to you doing that first rehab. I needed to have systems in place for buying for operations, for closings, for everything else that goes into.
[00:27:04] Syndicating a deal and putting deals together. Those systems are your lifeblood in the business. So I S I want our listeners today to really key in, on the things that you said and go back and listen to this recording a couple of times because there’s so much meat there and what you said and a lot of information that can help somebody.
[00:27:29] Get started or if you’re started go to the next level. Hey, this show is insider secrets, and I always ask my guests, give us insider secret. That’s helped you. That help you get started. That’ll take you to the next level.
[00:27:44] Abel: [00:27:44] Yeah, that, that secret. I think I already spilled the beans a little bit, but it’s really, I leveraged people till no end.
[00:27:52]And when I say leverage people it’s always for the right reasons. I set maybe I can share this right. How I set up or set expectations correctly. For somebody that I would try to for figure out how to leverage and how to work together on my team. So I’m extremely transparent.
[00:28:10] As my secret, I’m like overly transparent with a new team member or potential either investor or potential team member or potential partner on my team, which in the multifamily side, there’s. I realized there’s a lot of there’s, it’s a big team and there are many multiple teams depending on how you can, approach it.
[00:28:28]So I am just trying to tell people exactly who I am. Exactly what I’m about. I try to put that and be real as I possibly can, like my faith my background Christ follower. I’m a big servant. I love educating people. I like helping others. I don’t know at all. I’m not an expert. I, I may have this, a good track record, a good run behind me, but again, I leveraged those other pros.
[00:28:54]So I’m trying to, I’m trying to give all this stuff out as, as transparently as possible, and then give my biggest strengths. My persistence, my doggedness, my determination, the will to keep moving. And then, maybe some real life, the tactical things that I’m good at. I like investor relations.
[00:29:11] I like being the front end. I like the negotiation. I like raising capital. I like, doing this part of it, the social side giving back and helping others. And then the more honest and transparent you are with your skills. And maybe even your shortcomings, the better it is to find a partner that could see that in you and say, you know what, that’s, able just mentioned all the sharp shortcomings.
[00:29:34]I’m great at all those things and everything that Abel mentioned that I don’t th that he’s great at. I don’t have any of those things. Let’s partner and that secret, or some people say, I don’t want to show my, my underbelly of all my shortcomings or all the issues that I have, man, the more vulnerable you are and then highlight your strengths and know what those are.
[00:29:55] So you can also give the positive about yourself. The more I think people are going to gravitate towards. I want to partner with this guy and we’re going to have success. And now I ended up, having. In a COVID year, 20, 20 now seven opportunities that I’ve turned down. Multi-million dollar projects that I’ve been invited to and people say it’s hard to find your first deal.
[00:30:16] And I agree. It was hard to find my first multi-family deal. And it took me a lot of effort. But now, this year it’s had seven offers where people asked me to be a principal, a partner on the team, and I had to tell them no. So those are my insider secret there.
[00:30:28] Mike: [00:30:28] Yeah interesting. And it’s it just happens over time. And I think that you said w I see why we connect so well and that’s, being a Christ-follower. And I love that. Hey, listen, I know one of the things that you’re doing with five talents, and your whole brand is building a strong brand.
[00:30:44] How do you, what do you think is important about building a personal brand? How do you go about that? What, and, listen, we’re getting down to the end, but w I know you could take a long time and talk about that, how about a couple of highlights?
[00:30:57]Abel: [00:30:57] Yeah, I would say we were talking about this before the show.
[00:31:00] One of them is your social presence right now is Uber critical. Starting with you, who you want to reach who do you. Connect with, who’s going to resonate with you and your story. And the more you share your story, I think you’ll find the people that resonate with you the most.
[00:31:17]And then developing, they call it developing an avatar, but from a marketing perspective, that’s what they say. Ultimately it’s who do I, who am I trying to reach? Are you trying to reach a doctor dentist, former practitioner to raise capital from, are you trying to reach a broker to have more conversations about new multifamily projects who are you trying to connect within your brand and whoever you’re trying to connect with your, your personal story needs to connect with those.
[00:31:45] So that’s what you need to share over and over again. I like to say I’m tech sales. Was the W2 worker for years. I’m trying to connect with somebody like me. That’s what I’m trying to be myself. And I’m trying to have somebody say, you know what? I connect with you. Hey I’d like to get into your world.
[00:32:00]So develop your story, your brand hit that over and over again. And realize that you’re not the hero of the story when you speak and talk, you it’s hard because do want to be the hero, but you’re really trying to help someone else be the hero in their journey. And if you can be the, the Sherpa, the guidance, the coach, the whatever, to help them, establish success.
[00:32:24] In their life, then you are trying to be the hero or the star Wars analogy, the Luke Skywalker. And you want to be the Yoda, so that’s, whatever also heard is really good. So it connected with me. It’s man, that’s exactly the thing. And then the second part is man, you gotta get it out there.
[00:32:38]Social LinkedIn, Facebook repetition, consistent daily engagement asking thoughtful questions, trying to try to engage those people that. Could see your content and, ask the questions, ask the tough ones. And then when they respond, when they like to comment, engage on your social posts, for example, it’s man, I’ve got to engage.
[00:33:01] I got to get connected. I got to build a real relationship. All that stuff is on the surface. I’m just trying to get it to the know like, and trust. But if they don’t know you, they’re never going to be able to like, or trust you. So I’ve got to get this exposure out any which way possible. And so I think those might help.
[00:33:16] Mike: [00:33:16] Yeah. Very good. Very good. Hey, what are you working on these days?
[00:33:21] Abel: [00:33:21] I have a number of projects. One of the most, the, one of the most exciting ones for me is an impact investment. So we’ve done ours, this is our second impact investment. Recently we closed 120 doors and it was a multifamily property in just outside of DFW.
[00:33:38]There’s a nonprofit that we worked into the general partner slice of the pie. So basically. We given away a piece of our profits to a non-profit and this makes their fundraising for their organization easier and they get paid out just as an investor would. So that was really cool.
[00:33:54]We wanted to do it again. So today we’ve developed a fund and it is a regulation D five Oh six C fund, which I’ve finally feel comfortable saying on the podcast. And it’s man, this impact investment. We’ve got a nonprofit called department life. They’re a faith-based driven organization.
[00:34:11] And they are in communities that we invest in. And this fund is just raising capital. We’re going to go buy a bunch of deals and we’re invested into it’s called it’s a feeder fund. So fund invested into a larger one. We’re going to buy multifamily across nine different States and diversification to the max.
[00:34:30] We’ve given away, 15% of the profit basically of the GP to apartment life, which is a great community organization. And it’s a pretty cool way for me to I’ve never been able to ride, these huge checks to nonprofits or organization be that quote-unquote benefactor other than my church Thai.
[00:34:48]That’s probably about the biggest place I give, but man, it’s amazing to see commas and multiple zeros. Behind some of the checks that are going to be written to these nonprofits and we get an opportunity to do that through the investment. So we get to create wealth, create cash flow and build a legacy at the same time of helping an organization.
[00:35:08] That’s, that we appreciate so that’s cool. I’m excited for that, to, for that impact investment and seeing if who wants to come on the path with me,
[00:35:16] Mike: [00:35:16] wow. That’s awesome. Wow. Good job. Hey, listen. On a lighter note. So a couple of questions. I always like to ask people and I know you’re in San Antonio.
[00:35:24] Favorite tourist attraction.
[00:35:27] Abel: [00:35:27] Yeah. I would be remiss if I didn’t say the Riverwalk Alamo because you got to go check those out. They’re like a walking, almost walking distance. If you’re downtown San Antonio. You can go to the Riverwalk. You can go to the Alamo, you can see some of the skyline as well.
[00:35:43] It’s just real nice right there. But the new school tourist attraction in San Antonio is the Pearl it’s like downtown it’s in the same area new extension of the Riverwalk. And this has really great eateries, really great restaurants and bars, little park, little outside stroll.
[00:36:01]Vendors and things like that. And some really nice like renovated hotels, historic hotels that they remade. It’s a really nice area. The Pearl is great.
[00:36:10] Mike: [00:36:10] Nice. Favorite restaurant?
[00:36:13] Abel: [00:36:13] There are so many, but me and my wife like love Thai food. While there are these really great steak houses and all these nice restaurants and things like that, what we ended up going to probably the most is a Thai restaurant down the street type to learn that right there on Walzem.
[00:36:28] If you’re ever in San Antonio, it’s, it’s not a fancy restaurant, just a great restaurant for Thai food. Love Thai food going to have to come and visit. Yeah.
[00:36:39] Hey, best
[00:36:58] Mike: [00:36:58] book you ever read?
[00:37:00] Abel: [00:37:00] Ooh I’m going to have to mention the Bible cause I always had it, but for those people that are not the faith driven side, I love the insights and knowledge and lessons from. How to win friends and influence people by Dale Carnegie.
[00:37:13] Mike: [00:37:13] Yeah. It’s just, it’s one of those books that I’ve read I don’t know, 20 times or 30 times, there’s just something over and over again, you go back to, it’s a really good one. One of the biggest lessons I teach is building relationships, right? Because without you and I, haven’t a relationship, you and I haven’t a relationship helps.
[00:37:32] Us girl and helps people around us girl. And it’s, that’s what it’s about because who do you know? Who do I know who can help you help somebody else do something for somebody else? And, Dale Carnegie was a genius at that. Like Abel listen, Uber DAS. Yeah.
[00:37:50] This was great. Thank you. I appreciate your insight, your energy, your passion, your love, your, you’re great.
[00:37:57]And thank you, my friend. Thank you. Tell the listeners how they can get ahold of you if they want to pick your brain or build a relationship with yeah,
[00:38:05] we have a ton of content, a ton of education, a ton of resources. On our website. So you can probably, and contact me, if you want to set up a time to talk, you want to schedule some time that’s on the website as well.
[00:38:18] So go to five, the number five T C R e.com. So five talents. Commercial real estate five T cre.com. And on there, you can find forward slash ebook for ebook that we wrote that might help some passive investors get started. You’ll find a bunch of podcasts interviews. We try to put as many as we can on the show.
[00:38:41] As soon as this one comes out, I’ll link it right under our, about us page as well. And then if you guys are interested in that impact investment and just want to learn more about it it’s five tcrs.com/fund it’s there as well. So look forward to To helping anybody that has questions in any stage of their career.
[00:38:56] Nice. And I want to thank you again for being here. I really appreciate it. Appreciate this time and everybody, Hey, listen. If you like this today, like the like us on YouTube and follow us on social media, love us, like us do all that crazy stuff. And we’re here every Tuesday and look forward to talking to you soon, Abel.
[00:39:16] Thank you.
[00:39:17] Thank you, Mike.
[00:39:20]Kristen: [00:39:20] Thank you, Mike, and thank you for joining us for another great episode of insider secrets as always insider secrets is brought to you by my corn tensions. Join us on social media and visit my core intentions.com where you can get expert coaching on all things, multifamily investing in property management.
[00:39:38] We’re looking forward to having you back again next week for more insider secrets.