Insider Secrets Podcast Episode #38

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Featuring: Chris Levarek & Ashton Levarek

Chris Levarek

Chris Levarek is a former firefighter in the United States Airforce, graduate of Arizona State University, holds an Information Technology leadership role in the Banking Industry, and is a full-time real estate investor/managing partner of Valkere Investment Group. Since starting Valkere Investment Group, Chris has partnered with W-2 earners and fellow investors to achieve more choices and opportunities through real estate investing.

His experience includes single-family residential acquisitions, private lender loans, joint ventures, and multifamily real estate syndications. Chris is a published author, active BiggerPockets blog/forum contributor, and has been featured on multiple podcasts to include Military to Millionaire, The Best Ever Show, and Military Cashflow. Living in Phoenix, Arizona since 2010, Chris and his wife Jamie are enjoying the journey as new parents of a baby boy born August 2018.

Ashton Levarek

Ashton Levarek is an Air Force Special Operations Pararescue Jumper, holds a B.S. in Sports Health and Science and is a full-time real estate investor/managing partner of Valkere Investment Group. Ashton acts as the network facilitator and acquisitions lead for the Valkere team. Understanding that the whole is greater than the sum of its parts, Ashton is passionate about building a team of opportunity minded investors focused on creating equity, passive income, and generational wealth for everyone involved.

Action-oriented and results-focused, Ashton brings 20 years of Special Operations experience to the investment market. He has been featured on podcasts such as Generational Wealth, Deal Closers Show, Military to Millionaire, The Best Ever Show, and MilitaryCashflow. Married to Vivian and the father of 2 little girls, Keilana and Alayla, Ashton and his family reside in Portland, OR, where he enjoys rugby, traveling the world, and teaching his girls to surf.

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Shownotes:

 

Standout Quotes:

“We want to empower you with sound Real Estate principles for investing and property management while you still can have a well-balanced life” – [Mike]

“Success leaves clues, so let’s do what others did” – [Mike]

“I think that’s one of the big problems in today’s world… people don’t know what they want; if you know what you want, the decision is easy” – [Ashton]

“There is no such thing as ‘Fail’, I’m either successful or I learn, and that’s what real commitment is” – [Ashton]

“Even if you do know where you want to be, Why do you want to be there?” – [Mike]

“Go fast alone or go far together” – [Ashton]

“When you realize that this business is a team sport, now you just have to figure out what you’re good at” – [Ashton]

 

Key Takeaways:

Chris explains that when faced with high-stakes decisions he accepts the reality that he might not be making the best decision, however understanding that a decision has to be made means he will take a step, fully commit to it, and learn if he makes a mistake.

Ashton explains his approach towards making high stakes decisions: Being clear about where you want to go is first and foremost; the keys to getting what you want are clarity, commitment, and taking action daily.

The main component of their strategy in fundraising is building relationships. 

Tips for meeting new investors; monthly meet-ups, masterminds, Facebook groups, you don’t necessarily have to join Real Estate groups to talk about Real Estate.

Advice for new investors: when you realize that this business is a team sport, now you just have to figure out what you’re good at.

One of the tools to figure out what you’re good at is first figuring out what is required in the business; recommending the ‘Traction EOS model’ book and the Disc Profile.

Ashton shares that the big plan is to create a lifestyle that allows them to work around 6 months a year.

 

Episode Timeline:

[01:15] Meet today’s guests: Chris and Ashton Levarek.

[03:34] In one word, what describes you and your business strategy?

[04:15] Chris and Ashton each share their backstories.

[12:20] How do you make high-stakes decisions?

[17:21] Chris and Ashton describe how they were able to close a 120-unit deal.

[24:06] How do you raise money when syndicating a deal?

[29:00] How do we reach out to new investors who want to learn about Real Estate?

[32:50] Regarding Systems and Technology,  what works for you?

[35:15] Advice for new investors

[41:15] How to contact Chris and Ashton Levarek

Website: Valkeregroup.com

Free eBook: “Your path to freedom”

[43:43] Where do you see yourselves in the next 3-5 years?

 

Valkere Investment Group

3317 E Bell Road #101

#405

Phoenix, AZ 85032

web: www.valkeregroup.com

Transcript:

38  Insider Secrets with Chris Levarek & Ashton Leverak

Mike: [00:00:00] Hey, good afternoon, everybody. It’s Mike with insider secrets and I am joined today by my guests, Chris and Ashton Lavarack. And,  guys, can you tell our listeners where they’re going to hear a little bit about today?

[00:00:14] Ashton: [00:00:14] Definitely. So we dive into making some decisions, high stake decisions, some technologies we use in our business and 120 unit we close just this last month in Texas.

[00:00:24] Great.

[00:00:25]Chris: [00:00:25] Yeah. As well as, talking about how to, get clear about your goals and actually create the lifestyle that you want.

[00:00:32] Mike: [00:00:32] Awesome. I’m glad you guys are here. Looking forward to the episode and listeners for everybody here, you’re going to have to tune in and listen to the whole show. See you soon.

[00:00:44] Kristen: [00:00:44] 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 Morawski has more than 30 years of multifamily, real estate investing and property management experience.

[00:01:06] 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 cashflow and long-term wealth. Here’s your host, Mike.

[00:01:23]Mike: [00:01:23] Hey, good morning, everybody. It’s Mike with insider secrets and that’s brought to you by my core intentions. Hey, have you been thinking about your real estate intentions and where you want to go? You know, here we are at the end of the year, right? And we’re looking at a new year in front of us. What are your intentions for the new year?

[00:01:41] You know what MCI we invest in our client’s future through an educational and teaching platforms And our focus is to help you learn how to create short-term cashflow and long-term wealth We want to empower you with sound real estate principles for investing in property management While you still have the ability to live a well-balanced lifestyle So we try to do this by developing foundational practical principles And hopefully our guests today are bring some of that to the table. And we’ll be able to talk about that. You know, one of the things shamelessly that I’ll talk about real quick here is my new book, exit plan, everything you need to know about multifamily investing and why you need an exit plan before you buy, you should grab a copy because we talk a lot about these techniques in it.

[00:02:28] But I am really excited about today’s show. I’m joined by,  my guests  my guests and that’s right. Plural to guests Usually we just have one but brothers today of no sort Chris and Ashton Lavarack Chris is a former firefighter in the United States air force He graduated from Arizona state university holds an information technology and leadership role in the banking industry We’re going to have to hear a lot about that And he’s a full-time real estate investor managing partner of both Valcarie investment group since starting Valcarie investment group. Chris has partnered with W-2 earners and fellow investors to achieve more choices and opportunity through real estate investing.

[00:03:16] His experience includes single family, residential acquisitions, private lending loans ,

[00:03:23] joint ventures and multifamily real estate syndications. And we’re going to let Chris talk a lot more about his background and all of that, but his brother, Ashton is in the air force, special operations, pararescue, or jumper holds a BS in sports, health, and science, and is a full-time real estate investor key.  I’m sure that keeps him busy. We’re going to find out a lot about that. But he’s a partner managing partner of Valcarie investment group Ashton acts as the network facilitator and acquisitions lead for the Valcarie team, understanding that the whole is greater than the sum of its parts. Ashton is passionate about team building and the opportunity minded investors focused on created creating equity and passive income for generational wealth.

[00:04:11]Both are married, enjoy life with their wives and their children. And we’re going to let Ashton and Chris talk a lot about that. Hey guys, welcome. And the first thing I want to say is really thank you for your service. Appreciate you, what you guys do for us and for the country. But thanks a lot. You guys want to say hi real quick.

[00:04:29] Ashton: [00:04:29] Yeah.

[00:04:29] Chris: [00:04:29] Yeah, thanks for having us.

[00:04:31] Thank you. Appreciate that. Good to

[00:04:34] be here

[00:04:34]Mike: [00:04:34] Yeah glad you’re here. So we’re just talking about how you know Ashton’s in Oregon and it’s 6:00 AM there and we’re recording and Chris is in Phoenix and it’s seven and I’m in Chicago and it’s eight. So we kind of have the time zones covered, which is kinda cool.

[00:04:50] But Hey guys, listen. One thing I always ask people when we start. Is in one word, describe for the listeners, what your focus is, what your vision is, what really describes you and your business strategy. When do you want to go first? And

[00:05:06] Ashton: [00:05:06] I think freedom.

[00:05:09] Chris: [00:05:09] Yeah. Choices.

[00:05:10] Ashton: [00:05:10] Yeah.

[00:05:11]Mike: [00:05:11] Well, great, great words. You know, I I’ve been doing this for a while now, and it’s interesting. I don’t know that I’ve ever really had anybody double up on words that somebody else has said. And it’s kind of interesting. It just shows where everybody

[00:05:27] everybody’s thought preference is different, you know? Any, how would I like to do is just kind of talk about your back stories a little bit, you know, Chris, if you want to go first and tell us a little bit about your backstory, how you got into real estate, what your passion is, and then we’ll find out from Ashton a little bit about his and you guys can talk about how Valcarie came together

[00:05:48] then.

[00:05:49] Chris: [00:05:49] Sure. Yeah. So pretty funny. I I joined the military 2006 after college. I did a bit traveling overseas lived in France for two years before that, and then decided to military, went in, became a firefighter. My brother was already special forces. So I tried the physical, you know, really active role in the military and I enjoyed it, but I did find that you know, my passion wasn’t completely into it. And so when I exited the military and I went back to college, I decided to go in IT. It was great. A lot of, a lot of big salaries there. So I thought it’d be good. And lo and behold, I found I was really good at it. So I started a career I’ve been at about 11 years now, information technology.

[00:06:31] So I do network administration, server administration. I’m actually in a lead role now. And really quickly though, I did find out that, you know, we’re putting all this money aside in our big salaries that we, that we make. And the more you make, the more you put aside into 401ks and the more you get taxed.

[00:06:47] And as like, there’s gotta be something else here, because this is this isn’t gonna I’m, I’m, you know, I’m not a math whiz, but I could tell really quickly that, that wasn’t going to even out very in the end when I’m, you know, in my sixties retiring that 401k was going to be pretty small if I’m taking a big contributions or distributions.

[00:07:05] So in 2018 I looked into real estate. I said, Hey, there’s a lot of people doing this. Who, who hold wealth, there’s gotta be something there. Why, why are all these wealthy people holding real estate? You know? And how did they get into it? So we started looking at North Carolina, actually You know, and we, we started investing into duplexes and that’s kinda how we got started there. It was really that idea that this 401k or these retirement vehicles were not enough. And there has to be a better way into that. And so. We started in that direction in that manner.

[00:07:36] Mike: [00:07:36] Yeah.

[00:07:36] It’s interesting what you said about, , discover and how wealth is created. You know, if you really look in history and you look at some of the richest families, some of the wealthiest families in history, when you start talking about Rockefeller and Andrews and you know, all that wealth was created through real estate.

[00:07:53] You know, or a good portion of it was held in real estate, which is, which is always interesting. You know, I, I believe in success leaves clues, so let’s do what others did, right?

[00:08:03] Chris: [00:08:03] Absolutely.

[00:08:04] Mike: [00:08:04] How about you, Ashton?

[00:08:06]

[00:08:06] Ashton: [00:08:06] So yeah, I did about, I was on 18 years in the military, just that 2018. And Chris came to me talking about this real estate thing and I had been looking for, you know, that next step.

[00:08:20] So where was I going to go? And kind of the backup, like I’ve always been.  In the military, I joined the military at 98. I did the rescue swimmer program with the coast guard, and then I jumped over the air force to the pair rescue. So I’ve always been very active, never really, all I ever wanted to do was just travel the world.

[00:08:40] You know, I go on adventures and have a good time. And  So coming up on my 18 years, I was kind of like, well, what am I going to do next? I got two little girls. I want to continue to travel. I want to continue to have the freedom to do this stuff, but I don’t want to spend as much time working for that opportunity because in the military I was gone a lot.

[00:08:58] I was traveling for either training or I was deploying, but I was always gone. I mean, 250, 300 days a year. And I’m not exaggerating. We used to have to keep track of that just because, you know, the military wants to make sure that people are home with their families a certain amount of time.

[00:09:14] So so yeah, so it was, it was kind of like a. It’s kind of like a, well, I have two little kids, I got to be a father. Now I want to be a father. How can I create the income that passive income? Cause I didn’t really know what passive income was. I just thought, how could I create the income and still live the life I want and be with the family that I, that I have now that you know, and really put that time in to raise my daughters.

[00:09:37] And when my brother brought that real estate model to me in 2018, I kind of just jumped on and I was like, that sounds great. You know, that makes sense. Rent needs to be paid being the owner of a property like that. So we, at that time, him and I both just jumped into the education of it. And like you said, we.

[00:09:58] We, I think we did a challenge. We challenged ourselves to get something under contract in 90 days. And then we were off to the races.  Analyzing properties, talking to property management is doing market research, doing property research, all that stuff. And we just went full steam ahead. We got a quad under, under contract in 90 days and we were.

[00:10:18] We were gone, just partnering with people, raising money, learning as we go, you know, doing it the hard way, doing everything in the beginning. We learned a lot since then. And the business has grown a lot where our roles have shifted. Our, our brand has changed. Our models changed. I mean, we’ve been through quite a few changes in the last two years, but you know, I’m happy to say that.

[00:10:39]And I’m sure we’ll go through a lot more moving forward because everything’s always changing. But yeah, we’ve had a lot of fun building this as it is right now. So it’s been a great experience.

[00:10:49] Mike: [00:10:49] Yeah. You know, what’s interesting is you. It sounded almost like you wanted to, you were going to spend your life in the military at one point, that that’s really what your focus was going to be.

[00:11:00] And then all of a sudden, you know, it, it, this opportunity arose and it was like, wow, this could be the next stage of my life, you know? and, And I like what you said about, you know, wanting to spend more time with your daughters and family. And I think that, you know, we come to a point in our lives where that becomes really important.

[00:11:20] And, you know, the, one of the things that I like to teach is, you know, how do we live a more balanced lifestyle, a quality of life that, that other people will admire, but not only admire, but will want a part of, right. So I think that I commend you for that for doing that. And it’s interesting that, that, you know, so many people don’t know about opportunities in real estate.

[00:11:44] You know, whether it’s just owning a rental property or whether it’s passive income. I talk to people every day that, you know, God, I didn’t even know real estate existed, you know, I just gotta find it find it interesting You know Well it’s not

[00:11:57] Ashton: [00:11:57] talked about you know in school like when you go for a financial education it’s not even that I don’t know if they even touch on it but yeah we find the same thing I mean it’s always like Work till your work till retirement put 10% or more away in some type of retirement fund or savings you know no one ever talks about how your money gets devalued sitting in a savings account Nobody talks about all the taxes that go into retirement plans and how volatile the stock market is You know instead it’s almost like they want you to do that stuff I don’t know I don’t want to go into conspiracy of it but it’s just it seems yeah it is too early for that

[00:12:37] Mike: [00:12:37] I’m the wrong guy to talk about conspiracies with because we could go all day So

[00:12:43] Ashton: [00:12:43] yeah But it’s almost like they you know they want to keep you not stupid but uneducated on it No one ever touches on it, but you’re absolutely right. Like it’s, it’s a great vehicle. And there are so many opportunities just depends. How you want to do it, you know, if you want to be active, if you want to be passive, if you want to do small, big, whatever, commercial, residential. It’s awesome.

[00:13:02] Mike: [00:13:02] Yeah. So, well, listen, you know, one of the question I want to ask you guys is how do you, and you both might have different answers for this because of your, your military background, but how do you make high stake decisions?

[00:13:16] So. You know, something important is going on, something that really needs attention. And how do you go about making high stake decisions in your life?

[00:13:28] Ashton: [00:13:28] She you want to go?

[00:13:29] Chris: [00:13:29] Yeah, I mean, that’s tough for me. It might be easier for Ashton because it’s personality based, I think can help. If you’re a kind of big picture person, or if you’re a detailed person, sometimes the detail you get bogged down in the details and you can’t make that quick decision.

[00:13:44] You want to analyze everything you hear about that in real estate analysis paralysis, you’re just waiting for that right deal. And you never pull the trigger. So for me, sometimes that does happen. It gets, it gets, I get hung up on that. For me, it’s a lot of operational decisions because I do a lot of the management of virtual assistants we work with.

[00:14:02] And we, now that we branched out our roles, I do have people coming to me and they needed a decision right there. We just had one, you know, should we sell this quad or should we, should we not sell this quad? Should we wait and try to find a better opportunity? And sometimes, you know, we just have to say, okay, look, maybe we didn’t get what we want on this.

[00:14:20]There are some downsides, but we need to make a decision and I’m going to take that decision full front. I’m a commit to it. And if I was wrong, I was wrong. We’ll learn. We’ll go forward.  But that’s kinda how I do it. I, I have to kind of like make peace with it that this might not be the best decision, but it is a decision and, and we’ll learn going forward either.

[00:14:40] So

[00:14:40] yeah, for sure .

[00:14:41] Mike: [00:14:41] Very good, good analogy. How about you, Ashton?

[00:14:45] Ashton: [00:14:45] You know, I think I think Chris and I have talked about stuff like this at nauseum, I think  but being clear about where you want to go is first and foremost, if you’re having trouble making decisions, if you’re having trouble, I can almost pair this down or use this analogy for every instance that people get into.

[00:15:03] I think that’s one of the big problems in it. In today’s world is people don’t know what they want. If you know what you want, the decision is easy. If you know where you want to go in your life, if you know that I want six pack, abs, you know, you need, you shouldn’t be eating that donut, right. It’s pretty simple.

[00:15:21] You know, you should be at the gym. Like if you want to make more money than you need to find a way to do that. If you want more passive income, you need to, you know, like you really, I really think that’s where it starts. And. If you, Chris and I have done this, my, my wife and I do this,

[00:15:39] we w

[00:15:40] we look three years in the future and we

[00:15:43] feel,

[00:15:43] figure out where we want to be.

[00:15:44] So where do I want to be in three years? What’s my office look like how much time do I have to go do the things I want to do? How much time am I spending with my family? How much time I’m spending with my wife? You know, how much disposable income do I have? Am I, how much. Am I working each year, like that kind of stuff, you have to be absolutely clear about what you want.

[00:16:02]In the military, we always look at, you know, in special operations, you’re always looking at a target. We’re going to go hit this target. We’re going to rescue somebody. We’re going to get these bad guys. We’re going to do whatever, but we always look at the target first and that and that

[00:16:16] defines the whole mission that defines how we’re going to get there.

[00:16:18] That defines

[00:16:19] what,

[00:16:19] what equipment we’re bringing that defines who’s coming like. All that stuff.  And no decision is, is taken lightly, like who comes on the mission, who doesn’t, you know, what we’re bringing in, how, like, those are huge decisions. And sometimes things need to be made at the last minute.

[00:16:35] But if you know exactly what you’re trying to accomplish in your life, it’s actually pretty easy. And so, you know, I always say like the keys to actually getting anywhere and getting what you want or just. Clarity knowing exactly what you want, commitment being committed to that and nothing less, because I think a lot of people kind of let that go, that they don’t commit.

[00:16:56] They’re like, yeah, I would like to spend more time with my family, but I don’t have, they don’t make the commitment to actually find a way to do that. And then, and, and commitment means, you know, I accept that and nothing less. And. And if I fail, there is, there is no such thing as fail. I either succeed. I’m either successful or I learn.

[00:17:16] And that’s what real commitment is. And then the last one is just taking action daily and that’s, and that’s something that Chris and I have. You know, really hammered down as far as like accountability partners as business partners is you know, brothers being accountable and, and sometimes it’s tough, but you do need to take that action daily if you want to get somewhere in life.

[00:17:36] Mike: [00:17:36] Yeah. Good stuff.  Ashton, very good stuff. You know, and I, I you’d be surprised how many people don’t have clarity and, and even if you do know where you want to be, why do you want to be there? You know, I think that that’s a big piece of it too. Right? As the Y because the Y is the driver and it’s not just, well, I want to make more money.

[00:17:56] Well, why do you want to make more money? Because if it’s just making more money, here’s 10 bucks, there’s more money go away, you know?  It’s why, what does that, what does that represent? So, yeah. Hey, you guys just closed 120 unit deal.  You wanna, you want to tell us about that and how that went for you and some of the things that happened along the way?

[00:18:18] Chris: [00:18:18] Yeah, definitely.  It was you know, interesting when you’re closing properties during all this, this COVID going on.  There’s a lot of shifting parts and moving pieces. And especially when you’re working on something as big as the 120 units, we had, you know, multiple partners, multiple vendors, contractors, involved, different banks.

[00:18:36] Well I just wanted to say it was a, it was a great achievement. I, you know, it took probably six, six, eight months to bring everything to close. And that’s a lot longer than the normal closing and normal closing might be 45 to 60 days.  But yeah, it was in Texas right outside of Dallas Fort worth.  You know, C class C plus just doing it’s a value add project.

[00:18:57] So we usually target value, add projects that we’re just looking to slowly turn the units and raise rents by a hundred, 150 up to a, a proven rent that we can see from competing different properties around our property. But it was a great achievement with, with multiple partners and we were happy to play a part of it.

[00:19:15] And Yeah. yeah. Do you have anything add Ashton?

[00:19:18] Mike: [00:19:18] I got a couple of questions real quick. Maybe you can help, help, help add some light, Ashton.  How much did you pay per unit on a C class deal outside of Dallas. And is your, you know, being a value add, do you think you can take it from a C to a B or, or can you move it a half a point or, you know, what’s your thoughts around that?

[00:19:38] Or what’s your focus and where you’re headed with that?

[00:19:43] Ashton: [00:19:43] I man I’m I’m guilty of a data dump Okay So let me see we we closed on it What was it per door Chris Who was like

[00:19:51] Chris: [00:19:51] seven 70 6,000 Yeah.

[00:19:53] 76,000

[00:19:54] Ashton: [00:19:54] a door. And then can we.. Yeah, Off market it was brought to us by our asset manager actually.  And, and that just goes back to networking and then relationship building.

[00:20:05] Right.  But yeah. Yes, I think it can go to a, B  the B class property. It’s got a strong market there. It’s within commuter distance to Dallas. So 30 minutes is kind of what we look for when we look at like commuter, how long people are willing to commute.  And then with the rising price of real estate in Dallas itself, I mean, it’s pushing a lot of people to these outer smaller markets, like, like.

[00:20:29] Greensville. So yeah. And then there’s also some strong economic drivers in that market itself. I mean, there’s some big companies like some big contracting companies that work for the government actually right in that, in that market. So I think there’s a lot of potential there. It’s a nice property.

[00:20:44] In fact, it’s the one you see behind us right now?  Both of us. Yeah. So there’s a lot of there it’s made up of a good mix of. Studio one bedroom, one bath, two bedroom, one bath. And I think there’s some three bedroom. Is that right?

[00:21:03] Chris: [00:21:03] There’s four, four types of the studio, the one bed, one bath, one, a two bed, one bath, two bed,

[00:21:09] Ashton: [00:21:09] two bath,

[00:21:10] two beds.

[00:21:11] That’s right. Yeah. So yeah, there’s definitely some upgrades that need to happen, but Yeah, a lot of potential. It’s gonna, it’s going to come out really nice. We were, we were just, or I was just out there what, a week and a half ago meeting all the tenants, doing a meet and greet. We had like a had a bunch of food out for them and we’re talking to them about their concerns, you know, just so that they put a face on who’s managing the property now and, and in charge of all these changes.

[00:21:39] So there was a lot of things brought up, but then a lot, it was nice to meet everybody. Some really cool people

[00:21:43] Mike: [00:21:43] there.

[00:21:44] So let’s talk about some operation stuff. So when you took that over, you know, obviously a value add play did you leave the current staff in place? Talk about your onsite staff. Did you leave them in place?

[00:21:56] Are you replacing them? What are, you know, what’s your plans with, with the current staff?

[00:22:03] Ashton: [00:22:03] So we have, so we’re working with a asset, a nationwide asset management company that we actually with on this deal. And they’re the ones who brought it to us because we’ve worked with them on another deal prior to this one.

[00:22:14] So earlier this summer, we closed on our 84 unit in Columbus, Ohio, and they worked with us on that one. And so they turned around and brought this deal to us.  So obviously they wanted a part of it. And they set up all the all the management, they did all that. They helped us with the due diligence, of course.

[00:22:29] And then, you know they’re going to be in charge of a lot of the turns. We’re getting managing the progress, but yeah, they’re going to be in charge of the actual asset itself, but they put boots on the ground operators to manage it and be right there. So.

[00:22:45] Mike: [00:22:45] No, it’s interesting. And I want the listeners to pay attention to this. Eh You know, one of the things that we talk about is buying criteria and, and that’s a great market. You know, I bought it. I had a pretty big footprint of properties in the Dallas Fort worth market. And sub-markets because it, it, it’s a great area, you know, and the price point worked. And when you talk about buying criteria, one thing that I want the listeners to hear is when you talked about driving distance to Dallas, 30 minutes, these are things that, that a lot of people don’t think about. You know, they might buy something an hour out of town or 45 minutes out of town and not think about where’s that tenant base going to come from or that rental base.

[00:23:29] But that was, that’s a good call. And I liked that you brought that up because that was a good teaching point for, for buying activity.  Here’s the here’s the other thing. You mentioned 78,000 a door in, in that market value add when you are all done. What’s the after repair value going to be estimated at

[00:23:53] Ashton: [00:23:53] Chris. So we had the,

[00:23:56] after

[00:23:56] Chris: [00:23:56] the five-year holding me.

[00:23:57] Yeah. Yeah. So if we bought it at a nine point, we bought it at a 9.2 million. We’re looking to sell in year five at 12.9 million.

[00:24:09] Mike: [00:24:09] Okay. That’s a great increase. You know, I asked that because I talked to a broker last week in Phoenix and his average C class deal in Phoenix right now is 189,000 a unit. So you can see where the activity’s at, right. And all the money money’s pouring into right now. So did you guys syndicate that deal?

[00:24:31] Chris: [00:24:31] We did.

[00:24:31] Mike: [00:24:31] Yes.

[00:24:32] Yeah.

[00:24:32] So how do you, how do you guys syndicated deal? How do you raise money? Family and friends, or what’s your secrets around that? Hey, remember, this show is insider secrets. So now I’m going to ask for some secrets.

[00:24:45] Chris: [00:24:45] There we go. Yeah. So, so we we’ve niched down into our role where we do play a big part in the investor relations, the capital raise the due diligence. That’s kind of like our role in, in a partnership on a syndication. So we actually built a fund for this one. And and how we did that.

[00:25:01] I mean, we went to a course of securities attorney but we get all the documentation of PPM and just like a normal syndication. I guess operating documents you would need, except it just spells out that, you know, this can be multiple properties.  There’s a certain timeline associated with the fund.

[00:25:18] But it can be associated with one or, you know, one to three, depending on how many you put in the document different properties or just multifamily in general. And that really allowed us to use that same fund on the 84 unit and this 120 units. So it gave us that leeway, we really needed during the year of 2020 when those closing times kind of stretch.

[00:25:38]So that was useful for us. It was a, it was a very it also lets  our team maintain our investor base and the communications with our investors because the fund acts as a single investor into a sponsored deal. For example, So that way we maintain that communication. You’re not simply just passing off investors to a bigger deal. For example, that’s kind of a little secret there.

[00:26:01] Mike: [00:26:01] Okay. Okay, good.

[00:26:02] Good. Do you want to add anything, Ashton?

[00:26:10] Ashton: [00:26:10] I apologize. I muted myself.

[00:26:11] Oh, that’s right.

[00:26:13] Yeah. So I think one of the things that’s. Cool to note. So, so yes, that is the specifics how we did it. But I think one of the things that when I talked to new investors, when I talk to me real estate syndicators, when I’ve talked to people that are looking at getting in real estate people always ask that a lot.

[00:26:30] How do you, where do you get the money for it? You know? And how do you raise that money?  There’s a lot of different ways, but how do you get in front of people? And so this is one of the things that we’re really working on is building relationships with people, key people that want to be involved in this kind of thing.

[00:26:44] Right. Because what we found is, you know, a lot of people, once they start to see the the benefits of real estate, you know, they don’t know where to start. And so we always talk about like, The first, you know, people do it on their own. They own every mistake and they own every success and it’s high risk, high reward and, and it’s great.

[00:27:00] It can be great. It can be terrible, but second, like people do mentorship programs, which are great because they provide a ton of value. They provide a ton of resources. But of course you have to pay to do that. And then you still have to do the work. And then the last one is partnering, and,

[00:27:16] and that’s where a lot of people start is as a limited partner, as a general partner.

[00:27:21] And when people realize that they can come into these as limited partners, that’s, that is pretty powerful because we’ve had multiple friends come in as limited partners and then go on to do their own deals. And so. Because, you know, you build that relationship. So that’s been a lot, a large part of our, of our outreach.

[00:27:40] Each of our networking is, is showing people how to get started, how they can get involved in creating passive income and protecting what they make through, you know, the tax benefits of real estate. so yeah, so. And we could go into this.  This has been a wormhole of a project of just going figuring out how best to educate our network and so that people can understand how to get started, how to partner, how to get involved in real estate syndication.

[00:28:10] So like we’ve talked about before we started as a or someone working on active campaign, so on how we educate our investors, educate our network. Through emails, through webinars, through eBooks, my brother wrote an ebook that you can get at our website’s free. And then of course the blog, my brother’s a great writer.

[00:28:28] He writes our blog at the at our website as well. And it’s all about education. So providing that education, because like we talked about earlier, there’s not enough people that know about the benefits of real estate, I think. And if they did, they would probably be more people involved. And so that’s that’s

[00:28:44] a large part of what we do is educate.

[00:28:46] And it sounds like that’s what you do a lot as well. I mean, podcasts are probably one of the best free educating education sources out there, but.

[00:28:54] Mike: [00:28:54] You know, you brought, you bring something really interesting to the table is there’s a lot of people that don’t know about that real estate. We talk about that a couple of times on the call here, just briefly like that.

[00:29:05] What’s really, what’s, what’s an interesting conversation is how do we get to those people? How do we get to those people that don’t know, you know, cause on social media, we’re, we’re involved in these communities and with each other that, you know, that’s how we met was on, on social media, right? And everybody already knows about real estate, but how do we get to the, to the, to the new investor, the person who doesn’t know about real estate, who wants to learn that we can go and teach, right?

[00:29:34] Cause that’s where our greatest value is. Right. You know, I heard a, I was listening to something this morning on YouTube and Jim Rowan was talking about learn, use it and give it away. I thought, wow. What a great concept. Right. And that’s what, that’s exactly what you’re teaching. You learned it, you use it and now you’re going to give it away.

[00:29:53] And I think that that’s really it’s commendable, but how do you get to those people and talk about your active campaign a little bit so.

[00:30:02] Yeah. I think I’ll

[00:30:04] Chris: [00:30:04] touch briefly on how we, we meet new people. Mainly we have a monthly meetup. We do, and that’s been really key for the year of 2020, of course. You know, physical meetups are great, but the power of online virtual meetups that we’ve seen over the 2020 year has been just amazing from your home.

[00:30:22] You can go out and network with, you know, hundreds of people. We’ve had, you know, we, we, we bring on a guest speaker. Every month we do a wealth and whiskey mastermind we call so you can bring a drink.  but we’re,

[00:30:34] we’re getting, you know, 50, 60 people showing up and that’s really, I think one of the most powerful ways to meet new people.

[00:30:40] And, and of course we advertise that, that event on social media. And so how do you get that event seen on social media? That’s another story, but you know, you being in these Facebook groups that, that orient with what you like to do, I think is pretty a good way to, so if you are big into tech, go join some Facebook groups and maybe talk about real estate.

[00:30:59]You don’t necessarily have to join a real estate group to talk about real estate. You can go talk, you know, go join an art club and talk about real estate. I think that’s a very missed technique that people are using. They think they have to go to BiggerPockets too, or some forum to talk about real estate.

[00:31:15] Go talk about with people, have no idea that’s where the real power is, because then you’re going to find new people to it.  Especially if you’re looking for, you know, investors or partners or that kind of thing, but a couple of ways.

[00:31:27] Mike: [00:31:27] Yeah. Interesting.  I like, I liked the point you made about a meetup, you know, I’ve, I’ve a couple of meetup groups and I have about a hundred people that are signed up on, on both of them.

[00:31:38] One’s for property management, one’s for multi-family, but I find it interesting how many people actually show up, you know, for, you know, four or five people. I, I did this marketing push. To about three weeks ago to do four weeks about goal setting. And how do we prepare for the new year coming up?

[00:31:58] Right. Hey, 2020s behind us, it’s kind of been, you know, good and bad, but how do we review that year? How do we set some goals? How do we build some systems and strategies now? How do we execute? And the first week I had about 22 people on and last week one person. So, you know

[00:32:18] That’s pretty

[00:32:19] Chris: [00:32:19] typical though. I mean, from if I’m everyone I know who runs a meetup group, you can expect. You know, if you have a hundred people to join or a hundred people sign up, you can expect about 30% to show you already

[00:32:29] Mike: [00:32:29] had 40% kind of reflects Right I mean people only stay committed or there’s another shiny object then they run after the shiny object Right Yeah Right One thing I’m sure you learned in the military is don’t chase shiny objects Yeah No Yeah. So one of the, one of the things I’d like to know is a couple of technology, things that you guys like to use that are good for your business systems technology, what works for you guys?

[00:33:00] Chris: [00:33:00] Yeah. I mean, I’ll dive into that. That’s kinda my area.  So we have got into active campaign recently. I I recommended if you have a service product business that you’re trying to automate communications, keep track of contacts. Keep track of your, I guess, closing or,

[00:33:18] or sales.  It’s a great product for that tool.

[00:33:21]Basically what it does is it can automate a lot of those pieces. So if you have say a form on your website and someone signs up for it, you can trigger a month long or even year long automation where right they’ll receive certain emails over. What’s called a drip campaign.  Over a certain period of time.

[00:33:38] So you’ll have pauses. If they do certain actions, it will take different steps. So for example, if they fill out the form and they say I’m an accredited investor, When they, they, that form goes into active campaign that contact now says accredited, and you have a whole nother list of emails that will shoot off based on the fact that that tag or that variable now says accredited.

[00:34:01] So really powerful to get those automations working for you. You don’t have to go hire a virtual assistant to follow up with someone or contact someone especially in this game, it’s about building that relationship. It’s about providing free information. And so if that’s upon you as a person to log in every day and write an email and log it, that’s just going to you.

[00:34:21] You can’t do that at scale. So having a tool like active campaign is. It’s really great. We’ve used a couple though. Cali everybody knows Calendly or these automatic call schedule tools. Those are a huge time-saver you know how I don’t know I’m in,

[00:34:35] in it. So in the business or, I mean the W2 world, sometimes you spend so much time just trying to schedule a meeting, you know, are you available on Friday?

[00:34:44] Are you available on Monday? Well, how about 2:00 PM? Yeah. So Kelly just allows you to, it looks at your calendar and people can pick a meeting time and.  But we, we use monday.com too for project management.  If you’re familiar with monday.com, it’s like a sauna.  Those are kind of some of the big ones we use. I could go on and on. We

[00:35:02] Mike: [00:35:02] have like,

[00:35:03] Yeah. Yeah, that’s good though. That’s good information. So so if you were given a new investor information, you know, some advice, what would that look like today? Or what would that sound like to a new investor coming into the business?

[00:35:20] Ashton: [00:35:20] Well first I think we we’d look at, you know, where I know I’ll come back to this, but what does he want? What, I mean, what do you want, what are you looking for? What do you, do you want to retire in three, five years? If do you want to build up a nest egg or are you just looking something to augment your current income?  Excuse me. Like, what, what exactly are you looking for? So, because that depends. Are they looking for another job they might get into being an active general partner on a date, on big deals like this, and then going in, or do they like finding deals?

[00:35:53] Do they like doing the underwriting? Do they like managing, do they like, you know, finding all the vendors that we’re going to work with? So. It really, I think is kind of a tough one to, to say, what do you say to that person? Because I need to know, I need to know what they want, like, but at the end of the day, I think if you look at it, like first get clear on and your goals, you know?

[00:36:14]But also what are you good at? And when you realized that, you know, you just said, Jim Rome, Keys that I love some of his quotes he’s has some of the best quotes. Right.  But, I like this African quote that I’ve heard is like go fast go fast alone, or go far together. Or as Jim Ray roam puts it, nobody’s smarter than all of us.

[00:36:36] When you realize that this business is a team sport. Now you just have to figure out what you’re good at. ,

[00:36:42] And so yeah Like you come in. Like when we first started, I was underwriting deals. Chris was underwriting deals. We were doing, talking to contractor. We doing, we were doing everything. We were in every hat in the business and you quickly realize.

[00:36:55] That there is no way to do business. If you want to be efficient, you need to find people that are good at that stuff. And yeah, I really didn’t like underwriting. I really didn’t. And  but I thought I had to do it. And so it’s good to know it. Absolutely. It’s good to know how the, how it’s put together and how your business plan works off the numbers and why it works, you know?

[00:37:15] But if you can find somebody that’s good at that, you know, or likewise, like if you’re really good at underwriting, maybe you need somebody that’s good at. At, at talking to brokers that talking to investors or partners and, and building those relationships. So I think that’s a great place to start is like figuring out where you want to go and then what your goals are.

[00:37:34] And one of the things that are sorry, what you’re good at?  One of the things go ahead. Yeah. So one of the tool, like I said, so being clear about where you want to go and then figuring out what you’re good at. And one of the tools that we use to figure out what we’re good at is first Figuring out what was required of our business and a book that helped us with that was traction and the whole EOS model.

[00:37:55] If you’re not familiar with traction and it’s written by Gino Wickman, really good on how to lay out your business and who needs to be in what seat. And then another thing that helped us if we use the disc profile that Tony Robbins has always, he promotes, right.  It’s actually free on his website, I think.

[00:38:10] But if you want a more in depth, you have to pay for it. But it’s pretty good because when you. When you look at like, okay, this business, our business, it needs this person, this person, this person, this person, they all have different jobs. You know, if there’s only two of us or if there’s, you know, more who fits in those roles and And to do that. You gotta look at a person’s personality because if somebody is a people person and they’re not huge in the details like myself, I’m more of a big picture mindset building relations, that kind of thing. Like I am a T I’m going to be a terrible person to be in the operations side.

[00:38:44] Cause I’m gonna miss a lot of the details. I’m a terrible person. That’s going to be on the you know, on the underwriting side because, you know, I’m going to miss the details or I’m going to not care about them. I’m like, yeah, this looks great. You know, or whatever, but certain people in certain roles and when you can identify what your strengths are, like, people always say what your superpower is, man you can bring so much more to the team. And that takes a little humility obviously, right? Because you gotta be like, well, I can do that stuff, but I’m not good at it. So let me get somebody

[00:39:13] Mike: [00:39:13] else, you know?

[00:39:15] It’s good to know your strengths and your weaknesses like that. And then, you know, where you fit and I’m like you, I I’m, I’m a Rainmaker.

[00:39:23] I love building relationships and looking at deals, but,

[00:39:27] but I hate I hate the little details, you know, I,

[00:39:31] I get lost in that. And so yeah. Anything you want to add Chris?

[00:39:37] Chris: [00:39:37] T to a new investor? Yeah. So. I mean, we do these calls all the time. We have, we have free scheduling. Like we really leave it open for, you know, a 20 minute intro to a bunch of different people.

[00:39:49] I’m also on BiggerPockets all the time. So I’m connecting with really new investors and, you know, I try to do it on LinkedIn, LinkedIn at a different crowd.  But. So we have these talks and I just say, yeah, it’s about finding out what, what is driving them to, to come into real estate? What are they looking for?

[00:40:05] And then we can kind of go from there. And the first of the calls that we do, you know, and, and I got this, I forget which book, but it’s, it’s 70% about the person 30% should be. You. Are you talking the communication 70% about the new investor find out like really what drives them? You know, what is making them have this you know, desire so, and then you can kind of, you know, help guide them along, but we’ve found multiple different reasons, you know, like you said, building retirement, tax deductions, passive income, I’m just curious, you know, like it’s.

[00:40:39] Yeah.

[00:40:40] Mike: [00:40:40] Yeah.

[00:40:41] Interesting. Well, listen guys, this has been very enlightening. I’ve learned a lot.

[00:40:46] I’m sure that my listeners have learned a lot today, so I want to thank you guys for being here. Hey I think that Ashton mentioned Chris, that you have an ebook. You want to talk about that and tell listeners how you know, if they want to get a hold of you and, how they would get ahold of

[00:41:02] Chris: [00:41:02] you.

[00:41:03] Definitely. Yeah. So the best way, I mean, we, we put everything on our website. So Valkyrie group.com V A L K E R E group.com.  The free book is the first link, right at the top in the menu bar. It’s also on the main page.  But yeah, the, the book is awesome. It’s it’s  your path to freedom is the title, but basically what it does, it preps a new investor to understand the difference between passive and active investing and it kind of details the high levels of what there’s about six different variables that I go through that, that. Kind of help you decide if you are active or you’re passive, or which one aligns more with your current life situation your current goals. And you know, just to give a highlight, like time is a big one for a lot of people.

[00:41:45] If you have a lot of time, maybe you’re an active investor. Maybe you want to be active. You know, if you’re young and you got all that time in the world, but if you’re in your forties and you have a family and you have W2 job, maybe don’t have time. So that’s just one kind of variable that you might look at to decide if you’re passive or active.

[00:42:00] So go check out that ebook it’s on the website Belkery group.com. We got our contact information on their social media, me and my brother, Ashton We’re we’re on a lot of social media networks. You can search for our names as well. LinkedIn BiggerPockets, we’re all there, but if you want to just straight go to the website, we’ve got a lot of contact on there and a lot of different

[00:42:21] Mike: [00:42:21] resources.

[00:42:22] Awesome. Asked him, what do you want to add to that? 

[00:42:25] Ashton: [00:42:25] Yeah, I mean, if you are starting out, we’ll find somebody like Chris here because they make everything easy.

[00:42:33] Chris: [00:42:33] Thank you.

[00:42:34]Ashton: [00:42:34] Yeah. I mean, he he’s built our website. He’s, he’s built all the processes that go on behind the scenes, you know if I had to track every contact, every phone call, every man I would be lost and I would be, there’d be stacks of papers of contacts and people and notes, you know?

[00:42:50] So If you’re really starting out, I recommend that book traction, you know, I’d recommend figuring out, getting clear about what you want and then formulating a three to five-year plan.

[00:43:02] Yeah. 

[00:43:02] Yeah. Clarity, commitment, and daily action.

[00:43:05] Mike: [00:43:05] So real quick, you know, you brought up an interesting point, a three to five-year plan. Where do you guys see yourself in the next three to five years?

[00:43:14] Well,

[00:43:14] Ashton: [00:43:14] we both have W2 jobs right now.  Albeit they’re not full-time but yeah, the plan is to be able to walk away within what 2022 is by the end of 2022. So we’re already one year into our three-year plan. Our plan initially was 500 units under management, you know, cash flowing about 15 to 20,000 a month.

[00:43:39] And We’re at 246 right now. So 246 units. So we’re about halfway there and we still got two years left. So we’re, we’re excited. I mean, we may have to shift some of the goals, but that that’s where we’re going. And our big plan really is to create the lifestyle that would allow us to only work around six months a year so. And by work, I mean like actually hunting down deals, closing on deals, setting up all of that. But yeah, so th that’s kind of where we are. We just want the choice, right. It’s not necessarily, I love what I do. I have a lot of fun. I think Chris likes what he does as well.  But yeah, we just want the choice so.

[00:44:16] Mike: [00:44:16] Yeah. You know, I think that’s really important and is that we have the choice and, you know, we talk about why we’ve talked about that a couple of times on the call. And I think a lot of times people just that ultimately becomes a Y I just want to be able to have the choice to. To get out of bed today or not to go golfing or not, or to go to work or not, you know, and it’s, it boils down to choices.

[00:44:42] So, Hey guys, I’m really glad that you’re here. I’m glad that we connected Chris on LinkedIn.  That’s where we met. And I think LinkedIn is a great place for building relationships with people and developing relationships. You know, here’s what I would say. Anybody who’s looking for a syndication firm to be partners with, to be a passive investor in, I would give these guys a call and

[00:45:04] joint ventures and multifamily real estate syndications. And we’re going to let Chris talk a lot more about his background and all of that, but his brother, Ashton is in the air force, special operations, pararescue,

[00:45:16] jumper, holds a BS in sports, health, and science, and is a full-time real estate investor

[00:45:23] .

[00:45:23] I’m sure that keeps him busy. We’re going to find out a lot about that. But he’s a

[00:45:27] managing partner of Valcarie investment group Ashton acts as the network facilitator and acquisitions lead for the Valcarie team. Understanding that the whole is greater than the sum of its parts. Ashton is passionate about team building and the opportunity

[00:45:44] minded investors focused on created creating equity and passive income for generational wealth.

[00:45:52]

[00:45:52] both are married enjoy life with their wives and their children And we’re going to let Ashton and Chris talk a lot about that Hey guys welcome And the first thing I want to say is really thank you for your service Appreciate you what you guys do for us and for the country But thanks a lot You guys want to say hi real quick

[00:46:09] Ashton: [00:46:09] Yeah

[00:46:10] Chris: [00:46:10] Yeah thanks for having us Thank you Appreciate that Good to

[00:46:14] be here

[00:46:15] Mike: [00:46:15] Yeah glad you’re here. So we’re just talking about how,

[00:46:17] you know,

[00:46:18] Ashton’s in Oregon and it’s 6:00 AM there and,

[00:46:21] we’re recording and Chris is in Phoenix and it’s seven and I’m in Chicago and it’s eight. So we kind of have the time zones covered, which is kinda cool.

[00:46:30] But,

[00:46:31] Hey guys, listen. One thing I always ask people when we start. Is in one word, describe for the listeners, what your focus is, what your vision is, what really describes you and your business strategy. When do you want to go first? And

[00:46:46] Ashton: [00:46:46] I think,

[00:46:46] freedom.

[00:46:49] Chris: [00:46:49] Yeah. Choices.

[00:46:50] Ashton: [00:46:50] Yeah.

[00:46:52]Mike: [00:46:52] Well, great, great words. You know, I

[00:46:55] I’ve been doing this for a while now, and it’s interesting. I don’t know that I’ve ever really had anybody,

[00:47:01] double up on words that somebody else has said. And it’s kind of interesting. It just shows where

[00:47:06] everybody’s thought preference is different, you know? Any, how would I like to do is just,

[00:47:12] kind of,

[00:47:12] talk about your back stories a little bit, you know, Chris, if you want to go first and tell us a little bit about your backstory, how you got into real estate, what your passion is, and then we’ll find out from Ashton a little bit about his and you guys can talk about how Valcarie came together

[00:47:28] then.

[00:47:29] Chris: [00:47:29] Sure. Yeah. So,

[00:47:31] pretty funny. I I joined the military,

[00:47:33] 2006 after college. I did a bit traveling overseas,

[00:47:38] lived in France for two years before that, and then decided to military, went in, became a firefighter. My brother was already special forces. So I tried the physical, you know, really active role in the military and I enjoyed it, but I did find that,

[00:47:53] you know, my passion wasn’t completely into it. 

[00:47:56] and so when I exited the military and I went back to college, I decided to go in IT. It was great. A 

[00:48:00] lot of big salaries there. So I thought it’d be good. And

[00:48:04] I found I was really good at it. 

[00:48:05] so I started a career I’ve been at about 11 years now, information technology.

[00:48:10] So I do network,

[00:48:11] administration, server administration. I’m actually in a lead role now. And,

[00:48:15] really quickly though, I did find out that, you know, we’re putting all this money aside in our big salaries

[00:48:20] that we make. And the more you make, the more you put aside into 401ks and the more you get taxed.

[00:48:26] And as like, there’s gotta be something else here, because this is,

[00:48:28] this isn’t gonna I’m,

[00:48:29] you know, I’m not a math whiz, but I could tell really quickly that, that wasn’t going to even out very in the end when I’m, you know, in my sixties,

[00:48:37] retiring that 401k was going to be pretty small if I’m taking a big contributions or distributions.

[00:48:42] So,

[00:48:43] in 2018 I looked into real estate.

[00:48:46] I said, Hey, there’s a lot of people doing this. Who, who hold wealth, there’s gotta be something there. Why, why are all these wealthy people holding real estate? You know? 

[00:48:54] and how did they get into it? So we started looking at North Carolina, actually,

[00:48:58] You know, and we, we started investing into duplexes and that’s kinda how we got started there. It was really that idea that this 401k or these retirement vehicles were not enough. And there has to be a better way into that. And so. We started in that direction,

[00:49:12] in that manner.

[00:49:13] Mike: [00:49:13] Yeah.

[00:49:14] It’s interesting what you said about,

[00:49:16] discover and how wealth is created. You know, if you really look in history and you look at some of the richest families, some of the wealthiest families in history, when you start talking about Rockefeller and Andrews and you know, all that wealth was created through real estate.

[00:49:31] You know, or a good portion of it was held in real estate,

[00:49:33] which is always interesting. You know,

[00:49:35] I believe in success leaves clues, so,

[00:49:38] let’s do what others did, right?

[00:49:40] Chris: [00:49:40] Absolutely.

[00:49:41] Mike: [00:49:41] How about you, Ashton? 

[00:49:43] Ashton: [00:49:43] So yeah, I did about, I was on 18 years in the military, just that 2018. And

[00:49:50] Chris came to me talking about this real estate thing and I had been looking for, you know, that next step.

[00:49:57] So where was I going to go? 

[00:49:59] and kind of the backup, like I’ve always been.

[00:50:02] In the military, I joined the military at 98. I did the rescue swimmer program with the coast guard, and then I jumped over the air force to the pair rescue. 

[00:50:12] so I’ve always been very active,

[00:50:13] all I ever wanted to do was just,

[00:50:15] travel the world.

[00:50:16] You know, I go on adventures and have a good time. And, 

[00:50:19] So coming up on my 18 years, I was kind of like, well, what am I going to do next? I got two little girls. I want to continue to travel. I want to continue to have the freedom to do this stuff, but I don’t want to spend as much time working for that opportunity because in the military I was gone a lot.

[00:50:34] I was traveling for either training or I was deploying, but I was always gone. I mean, 250,

[00:50:39] or 300 days a year. And I’m not exaggerating. We used to have to keep track of that just because, you know, the military wants to make sure that people are home with their families a certain amount of time.

[00:50:49] So

[00:50:50] yeah,

[00:50:50] it was, it was kind of like a

[00:50:52] well, I have two little kids, I got to be a father. Now I want to be a father. How can I create the income that passive income? Cause I didn’t really know what passive income was. I just thought, how could I create the income and still live the life I want and be with the family that I, that I have now that you know, and really put that time in,

[00:51:10] to raise my daughters.

[00:51:11] And when my brother brought that real estate model to me in 2018, I kind of just jumped on and I was like, that sounds great. You know, that makes sense. Rent needs to be paid,

[00:51:23] being the owner of a property like that. So we, at that time, him and I both just jumped into the education of it. And like you said, we.

[00:51:32] We, I think we did a challenge. We challenged ourselves to get something under contract in 90 days. And then we were off to the races.

[00:51:38] Analyzing properties, talking to property management is doing market research, doing property research, all that stuff. And we just went full steam ahead. 

[00:51:46] we got a quad under, under contract in 90 days and we were.

[00:51:52] We were gone, just,

[00:51:53] partnering with people, raising money, learning as we go, you know, doing it the hard way, doing everything in the beginning. We learned a lot since then. And,

[00:52:02] the business has grown a lot where our roles have shifted. Our, our brand has changed. Our models changed. I mean, we’ve been through quite a few changes in the last two years, but you know, I’m happy to say that.

[00:52:13]

[00:52:13] and I’m sure we’ll go through a lot more moving forward because everything’s always changing. But,

[00:52:18] yeah, we’ve had a lot of fun building this as it is right now. So,

[00:52:21] it’s been a great experience.

[00:52:23] Mike: [00:52:23] Yeah. 

[00:52:24] you know, what’s interesting is

[00:52:26] it sounded almost like you wanted to you were going to spend your life in the military at one point, that that’s really what your focus was going to be.

[00:52:33] And then all of a sudden, you know,

[00:52:35] this opportunity arose and it was like, wow, this could be the next stage of my life, you know?

[00:52:40] And I like what you said about, you know, wanting to spend more time with your daughters and,

[00:52:45] family. And I think that, you know, we come to a point in our lives where that becomes really important.

[00:52:52] And, you know, the, one of the things that I like to teach is, you know, how do we live a more balanced lifestyle, a quality of life

[00:52:59] that other people,

[00:53:00] will admire, but not only admire, but will want a part of, right. So I think that I commend you for that,

[00:53:09] for doing that. And it’s interesting 

[00:53:10] that, you know, so many people don’t know about opportunities in real estate.

[00:53:15] You know, whether it’s just owning a rental property or whether it’s passive income. I talk to people every day that 

[00:53:22] God, I didn’t even know real estate existed,

[00:53:24] I just

[00:53:24] find it interesting. You know?

[00:53:26] Well, it’s not

[00:53:26] Ashton: [00:53:26] talked about

[00:53:27] in school, like when you go for a financial education, it’s not even that.

[00:53:32] I don’t know if they even touch on it, but yeah, we find the same thing. I mean, it’s always like. Work till your

[00:53:38] retirement put 10% or more away in some type of retirement fund or savings, you know, no one ever talks about how your money gets devalued sitting in a savings account. Nobody talks about all the taxes that go into retirement plans and how volatile the stock market is. You know,

[00:53:53] instead it’s almost like they want you to do that stuff I don’t know I don’t want to go into conspiracy of it but it’s just it seems yeah it is too early for that

[00:54:06] Mike: [00:54:06] I’m the wrong guy to talk about conspiracies with because we could go all day So

[00:54:11] Ashton: [00:54:11] yeah But it’s almost like they you know they want to keep you not stupid but uneducated on it No one ever touches on it, but you’re absolutely right. Like it’s, it’s a great vehicle. 

[00:54:21] and there are so many opportunities just depends. How you want to do it, you know, if you want to be active, if you want to be passive, if you want to do small, big, whatever, commercial, residential. It’s awesome.

[00:54:31] Mike: [00:54:31] Yeah.

[00:54:31] Well, listen, you know, one of the question I want to ask you guys is,

[00:54:34] how do you, and you both might have different answers for this because of

[00:54:40] your military background, but how do you make high stake decisions?

[00:54:44] So. You know, something important is going on, something that,

[00:54:48] really needs attention. And how do you go about making high stake decisions in your life?

[00:54:55] Ashton: [00:54:55] She you want to go?

[00:54:57] Chris: [00:54:57] Yeah, I mean, that’s tough for me. It might be easier for Ashton,

[00:55:00] because it’s personality based, I think can help. 

[00:55:03] if you’re a kind of big picture person, or if you’re a detailed person, sometimes the detail you get bogged down in the details and you can’t make that quick decision.

[00:55:11] You want to analyze everything you hear about that in real estate analysis paralysis, you’re just waiting for that right deal. And you never pull the trigger. So for me, sometimes that does happen.

[00:55:20] I get hung up on that. For me, it’s a lot of operational decisions because I do a lot of the management of virtual assistants we work with.

[00:55:28] And we, now that we branched out our roles, I do have people coming to me and they needed a decision right there. 

[00:55:34] we just had one, you know, should we sell this quad or should we, should we not sell this quad? 

[00:55:38] should we wait and try to find a better opportunity? And sometimes, you know, we just have to say, okay, look, maybe we didn’t get what we want on this.

[00:55:46]

[00:55:46] There are some downsides, but we need to make a decision and I’m going to take that decision full front. I’m a commit to it. And if I was wrong, I was wrong. We’ll learn. We’ll go forward.

[00:55:56] But that’s kinda how I do it.

[00:55:57] I have to kind of like make peace with it that this might not be the best decision, but it is a decision

[00:56:03] and we’ll learn going forward either so.

[00:56:06] Yeah, for sure.

[00:56:07] Mike: [00:56:07] Very good, good analogy. How about you, Ashton?

[00:56:10] Ashton: [00:56:10] You know,

[00:56:11] I think Chris and I have talked about stuff like this at nauseum, I think, 

[00:56:14] but being clear about where you want to go is first and foremost, if you’re having trouble making decisions, if you’re having trouble, I can almost pair this down or use this analogy for every instance that people get into.

[00:56:28] I think that’s one of the big problems in

[00:56:30] today’s world is people don’t know what they want. If you know what you want, the decision is easy. If you know where you want to go in your life, if you know that I want six pack, abs, you know, you need, you shouldn’t be eating that donut, right. It’s pretty simple.

[00:56:43]

[00:56:43] You know, you should be at the gym. Like if you want to make more money than you need to find a way to do that. If you want more passive income, you need to, you know, like

[00:56:54] I really think that’s where it starts. And. If you, Chris and I have done this, my, my wife and I do this,

[00:57:01] we look three years in the future and we

[00:57:04] figure out where we want to be.

[00:57:06] So where do I want to be in three years? What’s my office look like how much time do I have to go do the things I want to do? How much time am I spending with my family? How much time I’m spending with my wife? You know, how much disposable income do I have?

[00:57:17] How much. Am I working each year, like that kind of stuff, you have to be absolutely clear about what you want.

[00:57:23]

[00:57:23] in the military, we always look at, you know, in special operations, you’re always looking at a target. We’re going to go hit this target. We’re going to rescue somebody. We’re going to get these bad guys. We’re going to do whatever, but we always look at the target first and that

[00:57:35] defines the whole mission that defines how we’re going to get there.

[00:57:38] That defines

[00:57:39] what equipment we’re bringing that defines who’s coming like. All that stuff.

[00:57:43] And no decision is, is taken lightly, like who comes on the mission, who doesn’t, you know, what we’re bringing

[00:57:48] like, those are huge decisions. And sometimes things need to be made at the last minute.

[00:57:53] But if you know exactly what you’re trying to accomplish in your life, it’s actually pretty easy. And so, you know, I always say like the keys to actually getting anywhere and getting what you want or just. Clarity knowing exactly what you want, commitment being committed to that and nothing less, because I think a lot of people kind of let that go, that they don’t commit.

[00:58:14] They’re like, yeah, I would like to spend more time with my family, but I don’t have, they don’t make the commitment to actually find a way to do that. And then, and, and commitment means, you know, I accept that and nothing less. And. And if I fail, there is, there is no such thing as fail. I either succeed. I’m either successful or I learn.

[00:58:34] And that’s what real commitment is. And then the last one is just taking action daily

[00:58:38] and that’s something that Chris and I have. You know, really hammered down as far as like accountability partners as business partners is

[00:58:45] brothers,

[00:58:46] being accountable

[00:58:47] and sometimes it’s tough, but you do need to take that action daily if you want to get somewhere in life.

[00:58:52] Mike: [00:58:52] Yeah. Good stuff.

[00:58:54] Ashton, very good stuff. You know, and

[00:58:56] you’d be surprised how many people don’t have clarity

[00:59:00] and even if you do know where you want to be, why do you want to be there? You know, I think that that’s a big piece of it too. Right? As the Y because the Y is the driver and it’s not just, well, I want to make more money.

[00:59:12] Well, why do you want to make more money? Because if it’s just making more money, here’s 10 bucks, there’s more money go away, you know?

[00:59:18] It’s why, what does that, what does that represent? So, yeah. Hey, you guys just closed 120 unit deal.

[00:59:25] You wanna, you want to tell us about that and how that went for you and some of the things that happened along the way?

[00:59:34] Chris: [00:59:34] Yeah, definitely.

[00:59:35] It was,

[00:59:35] you know, interesting when you’re closing properties during all this, this COVID going on.

[00:59:40] There’s a lot of shifting parts and moving pieces. And especially when you’re working on something as big as the 120 units, we had, you know, multiple partners, multiple vendors, contractors, involved, different banks.

[00:59:52] Well I just wanted to say

[00:59:53] it was a great achievement. I, you know, it took probably six,

[00:59:57] eight months to bring everything to close. And that’s a lot longer than the normal closing and normal closing might be 45 to 60 days.

[01:00:04] But yeah, it was in Texas,

[01:00:06] right outside of Dallas Fort worth.

[01:00:07] You know, C class C plus,

[01:00:09] just doing it’s a value add project.

[01:00:12] So we usually target value, add projects that we’re just looking to slowly turn the units and raise rents by a hundred, 150,

[01:00:19] up to

[01:00:20] a proven rent,

[01:00:21] that we can see from competing different,

[01:00:23] properties around our property. 

[01:00:25] but it was a great achievement with, with multiple partners and we were,

[01:00:28] happy to play a part of it.

[01:00:30] And, 

[01:00:30] Yeah Do you have anything add Ashton?

[01:00:33] Mike: [01:00:33] I got a couple of questions real quick. Maybe you can help, help, help add some light, Ashton.

[01:00:37] How much did you pay per unit on a C class deal outside of Dallas. And,

[01:00:43] you know, being a value add, do you think you can take it from a C to a B or, or can you move it a half a point or, you know, what’s your thoughts around that?

[01:00:52] Or what’s your focus and where you’re headed with that?

[01:00:57] Ashton: [01:00:57] I man,

[01:00:58] I’m guilty of a data dump. Okay. So let me see, we

[01:01:02] closed on it. What was it per door, Chris? Who was like

[01:01:05] Chris: [01:01:05] seven 70 6,000 Yeah, 76,000

[01:01:07] Ashton: [01:01:07] a door.

[01:01:08]And then can we.. Yeah, Off market,

[01:01:11] it was brought to us by our asset manager actually.

[01:01:14] And, and that just goes back to networking and then relationship building.

[01:01:18] Right.

[01:01:19] But yeah. Yes, I think it can go to a, B

[01:01:23] the B class property. It’s got a strong market there. It’s within commuter,

[01:01:26] distance to Dallas. So 30 minutes is kind of what we look for when we look at like commuter, how long people are willing to commute.

[01:01:34] And then with the rising price of real estate in Dallas itself, I mean, it’s pushing a lot of people to these outer,

[01:01:40] smaller markets, like, like.

[01:01:42] Greensville. So,

[01:01:44] yeah. And then there’s also some strong economic drivers in that market itself. I mean, there’s some big companies like,

[01:01:50] some big contracting companies that work for the government actually right in that, in that market. So I think there’s a lot of potential there. It’s a nice property.

[01:01:57] In fact, it’s the one you see behind us right now?

[01:02:01] Both of us. Yeah. So there’s a lot of there it’s made up of a good mix of. Studio one bedroom, one bath, two bedroom, one bath. And I think there’s some three bedroom. Is that right?

[01:02:16] Chris: [01:02:16] There’s four, four types of the studio, the one bed, one bath,

[01:02:19] a two bed, one bath, two bed,

[01:02:22] Ashton: [01:02:22] two bath,

[01:02:23] Two beds. That’s right. Yeah. So yeah, there’s definitely some upgrades that need to happen, but,

[01:02:29] Yeah, a lot of potential. It’s gonna, it’s going to come out really nice. We were, we were just, or I was just out there what, a week and a half ago,

[01:02:38] meeting all the tenants, doing a meet and greet. We had like a,

[01:02:40] had a bunch of food out for them and we’re talking to them about their concerns, you know, just so that they put a face on who’s managing the property now and, and in charge of all these changes.

[01:02:52] So there was a lot of things brought up, but then a lot, it was nice to meet everybody. Some really cool people

[01:02:56] Mike: [01:02:56] there.

[01:02:57] So let’s talk about some operation stuff. So when you took that over, you know, obviously a value add play,

[01:03:03] did you leave the current staff in place? Talk about your onsite staff. Did you leave them in place?

[01:03:09] Are you replacing them? What are, you know, what’s your plans with,

[01:03:13] the current staff?

[01:03:15] Ashton: [01:03:15] So

[01:03:16] we’re working with a

[01:03:17] nationwide asset management company that we actually with on this deal. And they’re the ones who brought it to us,

[01:03:22] because we’ve worked with them on another deal,

[01:03:24] prior to this one.

[01:03:25] So earlier this summer, we closed on our 84 unit in Columbus, Ohio, and they worked with us on that one. And so they turned around and brought this deal to us.

[01:03:33] So obviously they wanted a part of it. And they set up

[01:03:36] all the management, they did all that. They helped us with the due diligence, of course.

[01:03:40] And then, you know,

[01:03:41] they’re going to be in charge of a lot of the turns. We’re getting managing the progress, but yeah, they’re going to be in charge of the actual asset itself, but they put boots on the ground,

[01:03:50] operators to manage it and be right there. So.

[01:03:55] Mike: [01:03:55] No, it’s interesting. And I want the listeners to pay attention to this. Eh Know, one of the things that we talk about is buying criteria

[01:04:03] and that’s a great market. You know,

[01:04:05] I had a pretty big footprint of properties in the Dallas Fort worth market. And sub-markets because

[01:04:11] it’s a great area, you know, and the price point worked. And,

[01:04:16] when you talk about buying criteria, one thing that I want the listeners to hear is when you talked about driving distance to Dallas, 30 minutes, these are things that, that a lot of people don’t think about. You know, they might buy something an hour out of town or 45 minutes out of town and not think about where’s that tenant base going to come from or that rental base.

[01:04:37] But that was, that’s a good call. And I liked that you brought that up because that was a good teaching point

[01:04:43] for buying activity.

[01:04:44] Here’s the

[01:04:45] other thing. You mentioned 78,000 a door

[01:04:49] in that market value add when you are all done. What’s the after repair value going to be estimated at?

[01:05:00] Ashton: [01:05:00] Chris So we had..

[01:05:02]

[01:05:02] After the five-year holding me?

[01:05:03] Chris: [01:05:03] Yeah. Yeah.

[01:05:05]

[01:05:05] so if we bought it at a nine point, we bought it at a 9.2 million. 

[01:05:09] we’re looking to sell in year five at 12.9 million.

[01:05:15] Mike: [01:05:15] Okay. That’s a great increase. You know, I asked that because,

[01:05:18] I talked to a broker last week in Phoenix and his average C class deal in Phoenix right now is 189,000 a unit. So you can see where the activity’s at, right. And all the

[01:05:32] money’s pouring into right now. So did you guys syndicate that deal?

[01:05:37] Chris: [01:05:37] We did.

[01:05:37] Mike: [01:05:37] Yes.

[01:05:38] Yeah.

[01:05:38] So how do you, how do you guys syndicated deal? How do you raise money? 

[01:05:42] family and friends, or what’s your secrets around that? Hey, remember, this show is insider secrets. So now I’m going to ask for some secrets.

[01:05:50] Chris: [01:05:50] There we go. Yeah. So,

[01:05:52] we’ve niched down into our role where we do play a big part in the investor relations, the capital raise the due diligence. That’s kind of like our role

[01:06:01] in a partnership on a syndication. So we actually built a fund for this one. 

[01:06:05] and

[01:06:05] how we did that. I mean, we went to a course of securities attorney,

[01:06:08] but we get all the documentation of PPM and just like a normal syndication. I guess operating documents you would need, except it just spells out that, you know, this can be multiple properties.

[01:06:20] There’s a certain timeline associated with the fund. 

[01:06:23] but it can be associated with one or, you know, one to three, depending on how many you put in the document,

[01:06:28] different properties or just multifamily in general. 

[01:06:31] and that really allowed us to use that same fund on the 84 unit and this 120 units. So it gave us that leeway, we really needed during the year of 2020 when those closing times kind of stretch.

[01:06:43]

[01:06:43] so that was useful for us. It was

[01:06:44] a very,

[01:06:45] it also lets

[01:06:46] our team maintain our investor base and the communications with our investors because the fund acts as a single investor into a sponsored deal. For example, So that way we maintain that communication. You’re not simply just passing off investors to a bigger deal. For example, that’s kind of a little secret there.

[01:07:06] Mike: [01:07:06] Okay.

[01:07:06] Good. Do you want to add anything, Ashton?

[01:07:13] Ashton: [01:07:13] I apologize. I muted myself.

[01:07:15] Oh, that’s right.

[01:07:16] Yeah. So I think one of the things that’s cool to note. So,

[01:07:21] yes, that is the specifics how we did it. 

[01:07:23] but I think one of the things that when I talked to new investors when I talk to me real estate syndicators, when I’ve talked to people that are looking at getting in real estate,

[01:07:31] people always ask that a lot.

[01:07:33] How do you, where do you get the money for it? You know? And,

[01:07:36] how do you raise that money?

[01:07:37] There’s a lot of different ways, but how do you get in front of people? And so this is one of the things that we’re really working on is building relationships with people, key people that want to be involved in this kind of thing.

[01:07:47] Right. Because what we found is, you know, a lot of people, once they start to see

[01:07:51] the benefits of real estate, you know, they don’t know where to start. And so we always talk about like, The first, you know, people do it on their own. They own every mistake and they own every success and it’s high risk, high reward and, and it’s great.

[01:08:02] It can be great. It can be terrible, but second, like people do mentorship programs, which are great because they provide a ton of value. They provide a ton of,

[01:08:12] resources. But of course you have to pay to do that. And then you still have to do the work. And then the last one is partnering,

[01:08:18] and that’s where a lot of people start is as a limited partner, as a general partner.

[01:08:23] And when people realize that they can come into these as limited partners, that’s, that is pretty powerful because we’ve had multiple friends come in as limited partners and then go on to do their own deals. And,

[01:08:34] so. Because, you know, you build that relationship. So that’s been 

[01:08:38] a large part

[01:08:39] of our outreach,

[01:08:40] of our networking is, is showing people how to get started, how they can get involved,

[01:08:46] in creating passive income and protecting what they make through, you know, the tax benefits of real estate.

[01:08:53] And we could go into this.

[01:08:54] This has been a wormhole of a project of just going,

[01:08:57] figuring out how best to educate our network and,

[01:09:01] so that people can understand how to get started, how to partner, how to,

[01:09:06] get involved in real estate syndication.

[01:09:08] So like we’ve talked about before we started as a or someone working on active campaign, so on how we educate our investors, educate our network. 

[01:09:17] through emails, through webinars, through eBooks, my brother wrote an ebook that you can get at our website’s free. And then of course the blog, my brother’s a great writer.

[01:09:26] He writes our blog

[01:09:27] at our website as well. And it’s all about education. So providing that education, because like we talked about earlier, there’s not enough people that know about the benefits of real estate, I think. And if they did, they would probably be more people involved. And so that’s

[01:09:41] a large part of what we do is educate. And it sounds like that’s what you do a lot as well. I mean, podcasts are probably one of the best,

[01:09:48] free

[01:09:48] education sources out there, but.

[01:09:51] Mike: [01:09:51] You know, you brought, you bring something really interesting to the table is there’s a lot of people that don’t know about that real estate. We talk about that a couple of times on the call here, just briefly like that.

[01:10:01] What’s really, what’s, what’s an interesting conversation is how do we get to those people? How do we get to those people that don’t know, you know, cause on social media, we’re, we’re involved in these communities and with each other that, you know, that’s how we met was on, on social media, right? And everybody already knows about real estate, but how do we get to the, to the, to the new investor, the person who doesn’t know about real estate, who wants to learn that we can go and teach, right?

[01:10:30] Cause that’s where our greatest value is. Right. You know, I heard a, I was listening to something this morning,

[01:10:36] on YouTube and Jim Rowan was talking about,

[01:10:39] learn, use it and give it away. I thought, wow. What a great concept. Right. And that’s what, that’s exactly what you’re teaching. You learned it, you use it and now you’re going to give it away.

[01:10:50] And I think that that’s really it’s commendable, but how do you get to those people and talk about your active campaign a little bit so.

[01:10:58] Yeah. I think I’ll

[01:11:00] Chris: [01:11:00] touch briefly on how we, we meet new people. Mainly we have a monthly meetup. We do, and that’s been really key for the year of 2020, of course. 

[01:11:10] you know, physical meetups are great, but the power of online virtual meetups that we’ve seen over the 2020 year has been just amazing from your home.

[01:11:19] You can go out and network with, you know, hundreds of people. We’ve had, you know,

[01:11:23] we bring on a guest speaker. 

[01:11:24] every month we do a wealth and whiskey mastermind we call so you can bring a drink.

[01:11:29] but

[01:11:29] we’re getting, you know, 50, 60 people showing up and that’s really, I think one of the most powerful ways to meet new people.

[01:11:36] And, and of course we advertise that, that event on social media. And so how do you get that event seen on social media? That’s another story, but,

[01:11:44] you know, you being in these Facebook groups that, that orient with what you like to do, I think is pretty a good way to, so if you are big into tech, go join some Facebook groups and maybe talk about real estate.

[01:11:55]

[01:11:55] you don’t necessarily have to join a real estate group to talk about real estate. You can go talk, you know, go join an art club and talk about real estate. I think that’s a very missed

[01:12:05] technique that people are using. They think they have to go to BiggerPockets too, or some forum to talk about real estate.

[01:12:11] Go talk about with people, have no idea that’s where the real power is, because then you’re going to find new people to it.

[01:12:17] Especially if you’re looking for, you know, investors or partners or that kind of thing, but a couple of ways.

[01:12:23] Mike: [01:12:23] Yeah. Interesting.

[01:12:24] I like, I liked the point you made about a meetup, you know, I’ve, I’ve a couple of meetup groups and I have about a hundred people that are signed up on, on both of them.

[01:12:33] One’s for property management, one’s for multi-family, but I find it interesting how many people actually show up, you know, for, you know, four or five people.

[01:12:43] I did this marketing push. To about three weeks ago to do four weeks about goal setting. And how do we prepare for the new year coming up?

[01:12:54] Right. Hey, 2020s behind us, it’s kind of been, you know, good and bad, but how do we review that year? How do we set some goals? How do we build some systems and strategies now? How do we execute? And the first week I had about 22 people on and last week one person. So, you know,

[01:13:13] That’s pretty

[01:13:14] Chris: [01:13:14] typical though. I mean, from

[01:13:15] everyone I know who runs a meetup group, you can expect. You know, if you have a hundred people to join or a hundred people sign up, you can expect about 30% to show you already

[01:13:24] Mike: [01:13:24] had 40% kind of reflects Right I mean people only stay committed or there’s another shiny object then they run after the shiny object Right Yeah Right One thing I’m sure you learned in the military is don’t chase shiny objects Yeah No Yeah. So one of the, one of the things I’d like to know is

[01:13:44] a couple of technology, things that you guys like to use that,

[01:13:49] are good for your business systems technology, what works for you guys?

[01:13:55] Chris: [01:13:55] Yeah. I mean, I’ll dive into that. That’s kinda my area.

[01:13:57] So we have got into active campaign recently. I I recommended if you have a

[01:14:02] service product business that you’re trying to automate communications, keep track of contacts. Keep track of

[01:14:10] your, I guess, closing

[01:14:12] or sales.

[01:14:13] It’s a great product for that tool.

[01:14:15]

[01:14:15] basically what it does is it can automate a lot of those pieces So if you have say a form on your website and someone signs up for it you can trigger a month long or even year long automation where right they’ll receive certain emails over. What’s called a drip campaign.

[01:14:31] Over a certain period of time.

[01:14:32] So you’ll have pauses. If they do certain actions, it will take different steps. So for example, if they fill out the form and they say I’m an accredited investor, When they, they, that form goes into active campaign that contact now says accredited, and you have a whole nother list of emails that will shoot off based on the fact that that tag or that variable now says accredited.

[01:14:55] So really powerful to get those automations working for you. You don’t have to go hire a virtual assistant to follow up with someone or contact someone,

[01:15:04] especially in this game, it’s about building that relationship. It’s about providing free information. And so if that’s upon you as a person to log in every day and write an email and log it, that’s just going to you.

[01:15:16] You can’t do that at scale. So having a tool like active campaign is. It’s really great. We’ve used a couple though. Cali everybody knows Calendly or these automatic call schedule tools. Those are a huge time-saver you know how I don’t know I’m

[01:15:30] in it. So,

[01:15:31] in the business or, I mean the W2 world, sometimes you spend so much time just trying to schedule a meeting, you know, are you available on Friday?

[01:15:38] Are you available on Monday? Well, how about 2:00 PM? Yeah. So Kelly just allows you to, it looks at your calendar and people can pick a meeting time and.

[01:15:47] But we, we use monday.com too for project management.

[01:15:50] If you’re familiar with monday.com, it’s like a sauna.

[01:15:54] Those are kind of some of the big ones we use. I could go on and on. We

[01:15:56] Mike: [01:15:56] have like,

[01:15:57] Yeah. Yeah, that’s good though. That’s good information. So,

[01:16:01] so if you were given a new investor information, you know, some advice, what would that look like today? Or what would that sound like to a new investor coming into the business?

[01:16:14] Ashton: [01:16:14] Well first I think we we’d look at, you know, where I know I’ll come back to this, but what does he want? What, I mean, what do you want, what are you looking for? What do you, do you want to retire in three, five years? If do you want to build up a nest egg or are you just looking something to augment your current income?

[01:16:31] Excuse me. Like, what, what exactly are you looking for? So, because that depends. Are they looking for another job they might get into being an active,

[01:16:41] general partner on a date, on big deals like this, and then going in, or do they like finding deals?

[01:16:47] Do they like doing the underwriting? Do they like managing, do they like, you know, finding all the vendors that we’re going to work with? So. It really, I think is kind of a tough one to, to say, what do you say to that person? Because I need to know, I need to know what they want, like, but at the end of the day, I think if you look at it, like first get clear on and your goals, you know?

[01:17:08]

[01:17:08] but also,

[01:17:10] what are you good at? And when you realized that, you know, you just said, Jim Rome, Keys that I love some of his quotes he’s has some of the best quotes. Right.

[01:17:19] But,

[01:17:20] I like this African quote that I’ve heard is like,

[01:17:23] go fast,

[01:17:24] go fast alone, or go far together. Or as Jim 

[01:17:28] roam puts it, nobody’s smarter than all of us. When you realize that this business is a team sport. 

[01:17:33] now you just have to figure out what you’re good at And so yeah Like you come in. Like when we first started, I was underwriting deals. Chris was underwriting deals. We were doing, talking to contractor. We doing, we were doing everything. We were in every hat in the business and you quickly realize.

[01:17:49] That there is no way to do business. If you want to be efficient, you need to find people that are good at that stuff. And yeah, I really didn’t like underwriting. I really didn’t. And

[01:17:59] but I thought I had to do it. And so it’s good to know it. Absolutely. It’s good to know how the, how it’s put together and how your business plan works off the numbers and why it works, you know?

[01:18:09] But,

[01:18:10] if you can find somebody that’s good at that, you know, or likewise, like if you’re really good at underwriting, maybe you need somebody that’s good

[01:18:15] at talking to brokers that talking to investors or partners and, and building those relationships. So,

[01:18:21] I think that’s a great place to start is like figuring out where you want to go and then what your goals are.

[01:18:27] And one of the things that are sorry, what you’re good at?

[01:18:30] One of the things go ahead. Yeah. So one of the tool, like I said, so being clear about where you want to go and then figuring out what you’re good at. And one of the tools that we use to figure out what we’re good at is first,

[01:18:42] Figuring out what was required of our business and a book that helped us with that was traction and the whole EOS model.

[01:18:48] If you’re not familiar with traction and it’s written by Gino Wickman, really good on how to lay out your business and who needs to be in what seat. And then,

[01:18:56] another thing that helped us if we use the disc profile that Tony Robbins has always, he promotes, right.

[01:19:02] It’s actually free on his website, I think.

[01:19:03] But if you want a more in depth, you have to pay for it. But,

[01:19:06] it’s pretty good because when you. When you look at like, okay, this business, our business, it needs this person, this person, this person, this person, they all have different jobs. You know, if there’s only two of us or if there’s, you know, more who fits in those roles and

[01:19:21] to do that. 

[01:19:22] you gotta look at a person’s personality because if somebody is a people person and they’re not huge in the details like myself, I’m more of a big picture mindset,

[01:19:31] building relations, that kind of thing. Like I am

[01:19:33] going to be a terrible person to be in the operations side.

[01:19:36] Cause I’m gonna miss a lot of the details. I’m a terrible person that’s going to be on the,

[01:19:40] you know, on the underwriting side because, you know, I’m going to miss the details or I’m going to not care about them. I’m like, yeah, this looks great. You know, or whatever, but certain people in certain roles and when you can identify what your strengths are, like, people always say what your superpower is, man you can bring so much more to the team. And that takes a little humility obviously,

[01:20:00] because you gotta be like, well, I can do that stuff, but I’m not good at it. So let me get somebody

[01:20:05] Mike: [01:20:05] else, you know?

[01:20:07] It’s good to know your strengths and your weaknesses like that. And then, you know, where you fit and I’m like you, I I’m, I’m a Rainmaker. I love building relationships and looking at deals, but,

[01:20:19] I hate

[01:20:20] the little details, you know,

[01:20:22] I get lost in that. And so yeah. Anything you want to add Chris?

[01:20:28]

[01:20:28] Chris: [01:20:28] T to a new investor? Yeah. So. I mean, we do these calls all the time. We have, we have free scheduling. Like we really leave it open for, you know, a 20 minute intro to a bunch of different people.

[01:20:40] I’m also on BiggerPockets all the time. So I’m connecting with really new investors and, you know, I try to do it on LinkedIn, LinkedIn at a different crowd.

[01:20:48] But. So we have these talks and I just say, yeah, it’s about finding out what, what is driving them

[01:20:54] to come into real estate? What are they looking for?

[01:20:56] And then we can kind of go from there. And the first of the calls that we do, you know,

[01:21:00] and I got this, I forget which book, but it’s, it’s 70% about the person 30% should be. You. Are you talking,

[01:21:07] the communication 70% about the new investor find out like really what drives them? You know, what is making them have this,

[01:21:14] you know, desire so, and then you can kind of, you know, help guide them along, but we’ve found multiple different reasons, you know, like you said, building retirement, tax deductions, passive income,

[01:21:26] just curious, you know, like it’s.

[01:21:29] Yeah.

[01:21:30] Mike: [01:21:30] Yeah.

[01:21:31] Interesting. Well, listen guys, this has been very enlightening. I’ve learned a lot. I’m sure that,

[01:21:36] my listeners have learned a lot today, so I want to thank you guys for being here. Hey,

[01:21:42] I think that Ashton mentioned Chris, that you have an ebook. You want to talk about that and tell listeners how,

[01:21:48] you know, if they want to get a hold of you,

[01:21:50] and,

[01:21:51] how they would get ahold of

[01:21:52] Chris: [01:21:52] you.

[01:21:53] Definitely. Yeah. So the best way, I mean, we, we put everything on our website. So Valkyrie group.com V L K E R E group.com.

[01:22:01] The free book is the first link, right at the top in the menu bar. 

[01:22:05] it’s also on the main page.

[01:22:06] But yeah, the, the book is awesome. It’s it’s

[01:22:08] your path to freedom,

[01:22:10] is the title, but basically what it does, it preps a new investor to understand the difference between passive and active investing and it kind of details the high levels of what there’s about six different,

[01:22:21] variables that I go through that, that. Kind of help you decide if you are active or you’re passive, or which one aligns more with your current life situation,

[01:22:30] your current goals. And,

[01:22:31] you know, just to give a highlight, like time is a big one for a lot of people.

[01:22:35] If you have a lot of time, maybe you’re an active investor. Maybe you want to be active. You know, if you’re young and you got all that time in the world, but if you’re in your forties and you have a family and you have W2 job, maybe don’t have time. So that’s just one kind of variable that you might look at to decide if you’re passive or active.

[01:22:50] So go check out that ebook it’s on the website,

[01:22:53] Belkery group.com. We got our contact information on their social media, me and my brother, Ashton

[01:22:59] we’re on,

[01:23:00] a lot of social media networks. You can search for our names as well. LinkedIn BiggerPockets, we’re all there, but if you want to just straight go to the website, we’ve got a lot of contact on there and a lot of different

[01:23:10] Mike: [01:23:10] resources.

[01:23:11] Awesome. Asked him, what do you want to add to that?

[01:23:15]

[01:23:15] Ashton: [01:23:15] Yeah, I mean, if you are starting out, we’ll find somebody like Chris here because they make everything easy.

[01:23:23] Chris: [01:23:23] Thank you.

[01:23:24]Ashton: [01:23:24] Yeah. I mean, he he’s built our website. He’s, he’s built all the processes that go on behind the scenes, you know,

[01:23:31] if I had to track every contact, every phone call, every man I would be lost and I would be, there’d be stacks of papers of contacts and people and notes, you know?

[01:23:40] So,

[01:23:41] If you’re really starting out, I recommend that book traction, you know, I’d recommend figuring out, getting clear about what you want and then formulating a three to five-year plan.

[01:23:51] Yeah.

[01:23:52]

[01:23:52] Yeah. Clarity, commitment, and daily action.

[01:23:55] Mike: [01:23:55] So real quick, you know, you brought up an interesting point, a three to five-year plan. Where do you guys see yourself in the next three to five years?

[01:24:04] Well,

[01:24:04] Ashton: [01:24:04] we both have W2 jobs right now.

[01:24:06] Albeit they’re not full-time but,

[01:24:09] yeah, the plan is to be able to walk away,

[01:24:13] within what 2022 is by the end of 2022. So we’re already one year into our three-year plan. Our plan initially was 500 units under management, you know, cash flowing about 15 to 20,000 a month.

[01:24:29] And,

[01:24:29] We’re at 246 right now. So 246 units. So we’re about halfway there and we still got two years left. So we’re, we’re excited. I mean, we may have to shift some of the goals, but,

[01:24:38] that’s where we’re going. And our big plan really is to create the lifestyle that would allow us to only work around six months a year so. And by work, I mean like actually hunting down deals, closing on deals, setting up all of that. But,

[01:24:54] yeah, so th that’s kind of where we are. We just want the choice, right. It’s not necessarily, I love what I do. I have a lot of fun. I think Chris likes what he does as well.

[01:25:02] But yeah, we just want the choice so.

[01:25:05] Mike: [01:25:05] Yeah. You know, I think that’s really important and,

[01:25:07] is that we have the choice and, you know, we talk about why we’ve talked about that a couple of times on the call. And I think a lot of times people just,

[01:25:16] that ultimately becomes a Y I just want to be able to have the choice to. To get out of bed today or not to go golfing or not, or to go to work or not, you know, and it’s, it boils down to choices.

[01:25:31] So, Hey guys, I’m really glad that you’re here. I’m glad that we connected Chris on LinkedIn.

[01:25:36] That’s where we met. And I think LinkedIn is a great place for building relationships with people and developing relationships. You know, here’s what I would say. Anybody who’s looking for a syndication firm to be partners with, to be a passive investor in, I would give these guys a call and,

[01:25:53] you know, find out a little bit more about them.

[01:25:56] I want to thank you guys again for being here and all my listeners for being here. Remember we’re here every Tuesday. So, please follow us on social media, like us on YouTube, subscribe, you know, do all that crazy stuff. Right. And

[01:26:09] loans. The,

[01:26:11] joint ventures and multifamily real estate syndications. And we’re going to let Chris talk a lot more about his background and all of that, but his brother, Ashton is in the air force, special operations, pararescue,

[01:26:22] or 

[01:26:23] jumper, holds a BS in sports, health, and science, and is a full-time real estate investor

[01:26:31] key.

[01:26:31] I’m sure that keeps him busy. We’re going to find out a lot about that. But he’s a

[01:26:35] partner

[01:26:35] managing partner of Valcarie investment group Ashton acts as the network facilitator and acquisitions lead for the Valcarie team understanding that the whole is greater than the sum of its parts Ashton is passionate about team building and the opportunity

[01:26:52]

[01:26:52] Minded investors focused on created creating equity and passive income for generational wealth

[01:27:00]

[01:27:00] Both are married enjoy life with their wives and their children And we’re going to let Ashton and Chris talk a lot about that Hey guys welcome And the first thing I want to say is really thank you for your service Appreciate you what you guys do for us and for the country But thanks a lot You guys want to say hi real quick

[01:27:17] Ashton: [01:27:17] Yeah

[01:27:18] Chris: [01:27:18] Yeah thanks for having us Thank you Appreciate that Good to

[01:27:22] be here

[01:27:23] Mike: [01:27:23] Yeah glad you’re here So we’re just talking about how

[01:27:25]

[01:27:25] You know

[01:27:26]

[01:27:26] Ashton’s in Oregon and it’s 6:00 AM there and

[01:27:29]

[01:27:29] We’re recording and Chris is in Phoenix and it’s seven and I’m in Chicago and it’s eight So we kind of have the time zones covered which is kinda cool But

[01:27:39]

[01:27:39] Hey guys listen One thing I always ask people when we start Is in one word describe for the listeners what your focus is what your vision is what really describes you and your business strategy When do you want to go first And

[01:27:54] Ashton: [01:27:54] I think

[01:27:55]

[01:27:55] Freedom

[01:27:57] Chris: [01:27:57] Yeah Choices

[01:27:58] Ashton: [01:27:58] Yeah

[01:28:00] Mike: [01:28:00] Well great great words You know I

[01:28:03]

[01:28:03] I’ve been doing this for a while now and it’s interesting I don’t know that I’ve ever really had anybody

[01:28:09]

[01:28:09] Double up on words that somebody else has said And it’s kind of interesting It just shows where

[01:28:14] everybody

[01:28:15] everybody’s thought preference is different you know Any how would I like to do is just

[01:28:20]

[01:28:20] Kind of

[01:28:21]

[01:28:21] Talk about your back stories a little bit you know Chris if you want to go first and tell us a little bit about your backstory how you got into real estate what your passion is and then we’ll find out from Ashton a little bit about his and you guys can talk about how Valcarie came together

[01:28:37] Then

[01:28:38] Chris: [01:28:38] Sure Yeah So pretty funny I I joined the military 2006 after college I did a bit traveling overseas lived in France for two years before that and then decided to military went in became a firefighter My brother was already special forces So I tried the physical you know really active role in the military and I enjoyed it but I did find That you know my passion wasn’t completely into it and so when I exited the military and I went back to college I decided to go in it It was great A lot of a lot of big salaries there So I thought it’d be good And lo and behold I found I was really good at it so I started a career I’ve been at about 11 years now information technology So I do network administration server administration I’m actually in a lead role now And really quickly though I did find out that you know we’re putting all this money aside in our big salaries that we that we make And the more you make the more you put aside into 401ks and the more you get taxed And as like there’s gotta be something else here because this is this isn’t gonna I’m I’m you know I’m not a math whiz but I could tell really quickly that that wasn’t going to even out very in the end when I’m you know in my sixties retiring that 401k was going to be pretty small if I’m taking a big contributions or distributions So in 2018 I looked into real estate I said Hey there’s a lot of people doing this Who who hold wealth there’s gotta be something there Why why are all these wealthy people holding real estate You know and how did they get into it So we started looking at North Carolina actually You know and we we started investing into duplexes and that’s kinda how we got started there It was really that idea that this 401k or these retirement vehicles were not enough And there has to be a better way into that And so We started in that direction in that manner

[01:30:24] Mike: [01:30:24] Yeah It’s interesting what you said about discover and how wealth is created You know if you really look in history and you look at some of the richest families some of the wealthiest families in history when you start talking about Rockefeller and Andrews and you know all that wealth was created through real estate You know or a good portion of it was held in real estate which is which is always interesting You know I I believe in success leaves clues so let’s do what others did right

[01:30:51] Chris: [01:30:51] Absolutely

[01:30:52] Mike: [01:30:52] How about you Ashton

[01:30:54]

[01:30:54] Ashton: [01:30:54] So yeah I did about I was on 18 years in the military just that 2018 And

[01:31:02]

[01:31:02] Chris came to me talking about this real estate thing and I had been looking for you know that next step So where was I going to go

[01:31:10]

[01:31:10] And kind of the backup like I’ve always been

[01:31:13]

[01:31:13] In the military I joined the military at 98 I did the rescue swimmer program with the coast guard and then I jumped over the air force to the pair rescue

[01:31:23]

[01:31:23] So I’ve always been very active never really all I ever wanted to do was just

[01:31:28]

[01:31:28] Travel the world You know I go on adventures and have a good time And

[01:31:32]

[01:31:32] So coming up on my 18 years I was kind of like well what am I going to do next I got two little girls I want to continue to travel I want to continue to have the freedom to do this stuff but I don’t want to spend as much time working for that opportunity because in the military I was gone a lot I was traveling for either training or I was deploying but I was always gone I mean 250 300 years or 300 days a year And I’m not exaggerating We used to have to keep track of that just because you know the military wants to make sure that people are home with their families a certain amount of time So

[01:32:04]

[01:32:04] So yeah so it was it was kind of like a It’s kind of like a well I have two little kids I got to be a father Now I want to be a father How can I create the income that passive income Cause I didn’t really know what passive income was I just thought how could I create the income and still live the life I want and be with the family that I that I have now that you know and really put that time in

[01:32:26]

[01:32:26] To raise my daughters And when my brother brought that real estate model to me in 2018 I kind of just jumped on and I was like that sounds great You know that makes sense Rent needs to be paid

[01:32:38]

[01:32:38] Being the owner of a property like that So we at that time him and I both just jumped into the education of it And like you said we We I think we did a challenge We challenged ourselves to get something under contract in 90 days And then we were off to the races

[01:32:54]

[01:32:54] Analyzing properties talking to property management is doing market research doing property research all that stuff And we just went full steam ahead

[01:33:02]

[01:33:02] We got a quad under under contract in 90 days and we were We were gone just

[01:33:08]

[01:33:08] Partnering with people raising money learning as we go you know doing it the hard way doing everything in the beginning We learned a lot since then And

[01:33:17]

[01:33:17] The business has grown a lot where our roles have shifted Our our brand has changed Our models changed I mean we’ve been through quite a few changes in the last two years but you know I’m happy to say that

[01:33:28]

[01:33:28] And I’m sure we’ll go through a lot more moving forward because everything’s always changing But

[01:33:33]

[01:33:33] Yeah we’ve had a lot of fun building this as it is right now So

[01:33:37]

[01:33:37] It’s been a great experience

[01:33:39] Mike: [01:33:39] Yeah

[01:33:39]

[01:33:39] You know what’s interesting is you It sounded almost like you wanted to you were going to spend your life in the military at one point that that’s really what your focus was going to be And then all of a sudden you know it it this opportunity arose and it was like wow this could be the next stage of my life you know

[01:33:57]

[01:33:57] And and I like what you said about you know wanting to spend more time with your daughters and

[01:34:03]

[01:34:03] Family And I think that you know we come to a point in our lives where that becomes really important And you know the one of the things that I like to teach is you know how do we live a more balanced lifestyle a quality of life that that other people

[01:34:18]

[01:34:18] Will admire but not only admire but will want a part of right So I think that I commend you for that

[01:34:26]

[01:34:26] For doing that And it’s interesting that that you know so many people don’t know about opportunities in real estate You know whether it’s just owning a rental property or whether it’s passive income I talk to people every day that you know God I didn’t even know real estate existed you know I just gotta find it find it interesting You know Well it’s not

[01:34:46] Ashton: [01:34:46] talked about you know in school like when you go for a financial education it’s not even that I don’t know if they even touch on it but yeah we find the same thing I mean it’s always like Work till your work till retirement put 10% or more away in some type of retirement fund or savings you know no one ever talks about how your money gets devalued sitting in a savings account Nobody talks about all the taxes that go into retirement plans and how volatile the stock market is You know instead it’s almost like they want you to do that stuff I don’t know I don’t want to go into conspiracy of it but it’s just it seems yeah it is too early for that

[01:35:26] Mike: [01:35:26] I’m the wrong guy to talk about conspiracies with because we could go all day So

[01:35:32] Ashton: [01:35:32] yeah But it’s almost like they you know they want to keep you not stupid but uneducated on it No one ever touches on it but you’re absolutely right Like it’s it’s a great vehicle

[01:35:41]

[01:35:41] And there are so many opportunities just depends How you want to do it you know if you want to be active if you want to be passive if you want to do small big whatever commercial residential It’s awesome

[01:35:52] Mike: [01:35:52] Yeah So well listen you know one of the question I want to ask you guys is

[01:35:56]

[01:35:56] How do you and you both might have different answers for this because of your your military background but how do you make high stake decisions So You know something important is going on something that

[01:36:10]

[01:36:10] Really needs attention And how do you go about making high stake decisions in your life

[01:36:17] Ashton: [01:36:17] She you want to go

[01:36:19] Chris: [01:36:19] Yeah I mean that’s tough for me It might be easier for Ashton

[01:36:22]

[01:36:22] Because it’s personality based I think can help

[01:36:25]

[01:36:25] If you’re a kind of big picture person or if you’re a detailed person sometimes the detail you get bogged down in the details and you can’t make that quick decision You want to analyze everything you hear about that in real estate analysis paralysis you’re just waiting for that right deal And you never pull the trigger So for me sometimes that does happen It gets it gets I get hung up on that For me it’s a lot of operational decisions because I do a lot of the management of virtual assistants we work with And we now that we branched out our roles I do have people coming to me and they needed a decision right there

[01:36:57]

[01:36:57] We just had one you know should we sell this quad or should we should we not sell this quad

[01:37:02]

[01:37:02] Should we wait and try to find a better opportunity And sometimes you know we just have to say okay look maybe we didn’t get what we want on this

[01:37:09]

[01:37:09] There are some downsides but we need to make a decision and I’m going to take that decision full front I’m a commit to it And if I was wrong I was wrong We’ll learn We’ll go forward

[01:37:19]

[01:37:19] But that’s kinda how I do it I I have to kind of like make peace with it that this might not be the best decision but it is a decision and and we’ll learn going forward either So

[01:37:29] yeah for sure

[01:37:31] Mike: [01:37:31] Very good good analogy How about you Ashton

[01:37:34] Ashton: [01:37:34] You know I think

[01:37:35]

[01:37:35] I think Chris and I have talked about stuff like this at nauseum I think

[01:37:39]

[01:37:39] But being clear about where you want to go is first and foremost if you’re having trouble making decisions if you’re having trouble I can almost pair this down or use this analogy for every instance that people get into I think that’s one of the big problems in it In today’s world is people don’t know what they want If you know what you want the decision is easy If you know where you want to go in your life if you know that I want six pack abs you know you need you shouldn’t be eating that donut right It’s pretty simple You know you should be at the gym Like if you want to make more money than you need to find a way to do that If you want more passive income you need to you know like you really I really think that’s where it starts And If you Chris and I have done this my my wife and I do this we w we look three years in the future and we feel figure out where we want to be So where do I want to be in three years What’s my office look like how much time do I have to go do the things I want to do How much time am I spending with my family How much time I’m spending with my wife You know how much disposable income do I have Am I how much Am I working each year like that kind of stuff you have to be absolutely clear about what you want

[01:38:52]

[01:38:52] In the military we always look at you know in special operations you’re always looking at a target We’re going to go hit this target We’re going to rescue somebody We’re going to get these bad guys We’re going to do whatever but we always look at the target first and that and that defines the whole mission that defines how we’re going to get there That defines what what equipment we’re bringing that defines who’s coming like All that stuff

[01:39:13]

[01:39:13] And no decision is is taken lightly like who comes on the mission who doesn’t you know what we’re bringing in how like those are huge decisions And sometimes things need to be made at the last minute But if you know exactly what you’re trying to accomplish in your life it’s actually pretty easy And so you know I always say like the keys to actually getting anywhere and getting what you want or just Clarity knowing exactly what you want commitment being committed to that and nothing less because I think a lot of people kind of let that go that they don’t commit They’re like yeah I would like to spend more time with my family but I don’t have they don’t make the commitment to actually find a way to do that And then and and commitment means you know I accept that and nothing less And And if I fail there is there is no such thing as fail I either succeed I’m either successful or I learn And that’s what real commitment is And then the last one is just taking action daily and that’s and that’s something that Chris and I have You know really hammered down as far as like accountability partners as business partners is

[01:40:17]

[01:40:17] You know brothers

[01:40:19]

[01:40:19] Being accountable and and sometimes it’s tough but you do need to take that action daily if you want to get somewhere in life

[01:40:25] Mike: [01:40:25] Yeah Good stuff

[01:40:27]

[01:40:27] Ashton very good stuff You know and I I you’d be surprised how many people don’t have clarity and and even if you do know where you want to be why do you want to be there You know I think that that’s a big piece of it too Right As the Y because the Y is the driver and it’s not just well I want to make more money Well why do you want to make more money Because if it’s just making more money here’s 10 bucks there’s more money go away you know

[01:40:51]

[01:40:51] It’s why what does that what does that represent So yeah Hey you guys just closed 120 unit deal

[01:40:59]

[01:40:59] You wanna you want to tell us about that and how that went for you and some of the things that happened along the way

[01:41:07] Chris: [01:41:07] Yeah definitely

[01:41:08]

[01:41:08] It was

[01:41:09]

[01:41:09] You know interesting when you’re closing properties during all this this COVID going on

[01:41:13]

[01:41:13] There’s a lot of shifting parts and moving pieces And especially when you’re working on something as big as the 120 units we had you know multiple partners multiple vendors contractors involved different banks Well I just wanted to say it was a it was a great achievement I you know it took probably six six eight months to bring everything to close And that’s a lot longer than the normal closing and normal closing might be 45 to 60 days

[01:41:38]

[01:41:38] But yeah it was in Texas

[01:41:40]

[01:41:40] Right outside of Dallas Fort worth

[01:41:41]

[01:41:41] You know C class C plus

[01:41:44]

[01:41:44] Just doing it’s a value add project So we usually target value add projects that we’re just looking to slowly turn the units and raise rents by a hundred 150

[01:41:53]

[01:41:53] Up to a a proven rent

[01:41:55]

[01:41:55] That we can see from competing different

[01:41:57]

[01:41:57] Properties around our property

[01:41:59]

[01:41:59] But it was a great achievement with with multiple partners and we were

[01:42:03]

[01:42:03] Happy to play a part of it And

[01:42:05]

[01:42:05] Yeah Yeah Do you have anything add Ashton

[01:42:08] Mike: [01:42:08] I got a couple of questions real quick Maybe you can help help help add some light Ashton

[01:42:12]

[01:42:12] How much did you pay per unit on a C class deal outside of Dallas And

[01:42:18]

[01:42:18] Is your you know being a value add do you think you can take it from a C to a B or or can you move it a half a point or you know what’s your thoughts around that Or what’s your focus and where you’re headed with that

[01:42:33] Ashton: [01:42:33] I man I’m I’m guilty of a data dump Okay So let me see we we closed on it What was it per door Chris Who was like

[01:42:40] Chris: [01:42:40] seven 70 6,000 Yeah 76,000

[01:42:43] Ashton: [01:42:43] a door

[01:42:44]

[01:42:44] And then can we yeah Off market

[01:42:47]

[01:42:47] It was brought to us by our asset manager actually

[01:42:50]

[01:42:50] And and that just goes back to networking and then relationship building Right

[01:42:55]

[01:42:55] But yeah Yes I think it can go to a B

[01:42:59]

[01:42:59] The B class property It’s got a strong market there It’s within commuter

[01:43:02]

[01:43:02] Distance to Dallas So 30 minutes is kind of what we look for when we look at like commuter how long people are willing to commute

[01:43:10]

[01:43:10] And then with the rising price of real estate in Dallas itself I mean it’s pushing a lot of people to these outer

[01:43:16]

[01:43:16] Smaller markets like like Greensville So

[01:43:20]

[01:43:20] Yeah And then there’s also some strong economic drivers in that market itself I mean there’s some big companies like

[01:43:26]

[01:43:26] Some big contracting companies that work for the government actually right in that in that market So I think there’s a lot of potential there It’s a nice property In fact it’s the one you see behind us right now

[01:43:37]

[01:43:37] Both of us Yeah So there’s a lot of there it’s made up of a good mix of Studio one bedroom one bath two bedroom one bath And I think there’s some three bedroom Is that right

[01:43:52] Chris: [01:43:52] There’s four four types of the studio the one bed one bath one a two bed one bath two bed

[01:43:58] Ashton: [01:43:58] two bath two beds That’s right Yeah So yeah there’s definitely some upgrades that need to happen but

[01:44:05]

[01:44:05] Yeah a lot of potential It’s gonna it’s going to come out really nice We were we were just or I was just out there what a week and a half ago

[01:44:14]

[01:44:14] Meeting all the tenants doing a meet and greet We had like a

[01:44:17]

[01:44:17] Had a bunch of food out for them and we’re talking to them about their concerns you know just so that they put a face on who’s managing the property now and and in charge of all these changes So there was a lot of things brought up but then a lot it was nice to meet everybody Some really cool people

[01:44:32] Mike: [01:44:32] there So let’s talk about some operation stuff So when you took that over you know obviously a value add play

[01:44:39]

[01:44:39] Did you leave the current staff in place Talk about your onsite staff Did you leave them in place Are you replacing them What are you know what’s your plans with with the current staff

[01:44:52] Ashton: [01:44:52] So we have so we’re working with a asset a nationwide asset management company that we actually with on this deal And they’re the ones who brought it to us

[01:45:00]

[01:45:00] Because we’ve worked with them on another deal

[01:45:03]

[01:45:03] Prior to this one So earlier this summer we closed on our 84 unit in Columbus Ohio and they worked with us on that one And so they turned around and brought this deal to us

[01:45:11]

[01:45:11] So obviously they wanted a part of it And they set up all the

[01:45:15]

[01:45:15] All the management they did all that They helped us with the due diligence of course And then you know

[01:45:20]

[01:45:20] They’re going to be in charge of a lot of the turns We’re getting managing the progress but yeah they’re going to be in charge of the actual asset itself but they put boots on the ground

[01:45:29]

[01:45:29] Operators to manage it and be right there So

[01:45:35] Mike: [01:45:35] No it’s interesting And I want the listeners to pay attention to this Eh you know one of the things that we talk about is buying criteria and and that’s a great market You know I bought it I had a pretty big footprint of properties in the Dallas Fort worth market And sub-markets because it it it’s a great area you know and the price point worked And

[01:45:57]

[01:45:57] When you talk about buying criteria one thing that I want The listeners to hear is when you talked about driving distance to Dallas 30 minutes these are things that that a lot of people don’t think about You know they might buy something an hour out of town or 45 minutes out of town and not think about where’s that tenant base going to come from or that rental base But that was that’s a good call And I liked that you brought that up because that was a good teaching point for for buying activity

[01:46:26]

[01:46:26] Here’s the here’s the other thing You mentioned 78,000 a door in in that market value add when you are all done What’s the after repair value going to be estimated at

[01:46:43] Ashton: [01:46:43] Chris So we had the after

[01:46:45] Chris: [01:46:45] the five-year holding me Yeah Yeah

[01:46:48]

[01:46:48] So if we bought it at a nine point we bought it at a 9.2 million

[01:46:52]

[01:46:52] We’re looking to sell in year five at 12.9 million

[01:46:58] Mike: [01:46:58] Okay That’s a great increase You know I asked that because

[01:47:01]

[01:47:01] I talked to a broker last week in Phoenix and his average C class deal in Phoenix right now is 189,000 a unit So you can see where the activity’s at right And all the money money’s pouring into right now So did you guys syndicate that deal

[01:47:20] Chris: [01:47:20] We did

[01:47:21] Mike: [01:47:21] Yes Yeah So how do you how do you guys syndicated deal How do you raise money

[01:47:25]

[01:47:25] Family and friends or what’s your secrets around that Hey remember this show is insider secrets So now I’m going to ask for some secrets

[01:47:34] Chris: [01:47:34] There we go Yeah So so we we’ve niched down into our role where we do play a big part in the investor relations the capital raise the due diligence That’s kind of like our role in in a partnership on a syndication So we actually built a fund for this one

[01:47:49]

[01:47:49] And and how we did that I mean we went to a course of securities attorney

[01:47:53]

[01:47:53] But we get all the documentation of PPM and just like a normal syndication I guess operating documents you would need except it just spells out that you know this can be multiple properties

[01:48:05]

[01:48:05] There’s a certain timeline associated with the fund

[01:48:07]

[01:48:07] But it can be associated with one or you know one to three depending on how many you put in the document

[01:48:13]

[01:48:13] Different properties or just multifamily in general

[01:48:15]

[01:48:15] And that really allowed us to use that same fund on the 84 unit and this 120 units So it gave us that leeway we really needed during the year of 2020 when those closing times kind of stretch

[01:48:27]

[01:48:27] So that was useful for us It was a it was a very

[01:48:30]

[01:48:30] It also lets

[01:48:31]

[01:48:31] Our team maintain our investor base and the communications with our investors because the fund acts as a single investor into a sponsored deal For example So that way we maintain that communication You’re not simply just passing off investors to a bigger deal For example that’s kind of a little secret there

[01:48:50] Mike: [01:48:50] Okay Okay good Good Do you want to add anything Ashton

[01:48:59] Ashton: [01:48:59] I apologize I muted myself Oh that’s right Yeah So I think one of the things that’s Cool to note So so yes that is the specifics how we did it

[01:49:09]

[01:49:09] But I think one of the things that when I talked to new investors when I talk to me real estate syndicators when I’ve talked to people that are looking at getting in real estate

[01:49:17]

[01:49:17] People always ask that a lot How do you where do you get the money for it You know And

[01:49:22]

[01:49:22] How do you raise that money

[01:49:23]

[01:49:23] There’s a lot of different ways but how do you get in front of people And so this is one of the things that we’re really working on is building relationships with people key people that want to be involved in this kind of thing Right Because what we found is you know a lot of people once they start to see the

[01:49:38]

[01:49:38] The benefits of real estate you know they don’t know where to start And so we always talk about like The first you know people do it on their own They own every mistake and they own every success and it’s high risk high reward and and it’s great It can be great It can be terrible but second like people do mentorship programs which are great because they provide a ton of value They provide a ton of

[01:49:59]

[01:49:59] Resources But of course you have to pay to do that And then you still have to do the work And then the last one is partnering and and that’s where a lot of people start is as a limited partner as a general partner And when people realize that they can come into these as limited partners that’s that is pretty powerful because we’ve had multiple friends come in as limited partners and then go on to do their own deals And

[01:50:22]

[01:50:22] So Because you know you build that relationship So that’s been a lot a large part of our of our outreach Each of our networking is is showing people how to get started how they can get involved

[01:50:36]

[01:50:36] In creating passive income and protecting what they make through you know the tax benefits of real estate

[01:50:42]

[01:50:42] So yeah so And we could go into this

[01:50:46]

[01:50:46] This has been a wormhole of a project of just going

[01:50:49]

[01:50:49] Figuring out how best to educate our network and

[01:50:53]

[01:50:53] So that people can understand how to get started how to partner how to

[01:50:57]

[01:50:57] Get involved in real estate syndication So like we’ve talked about before we started as a or someone working on active campaign so on how we educate our investors educate our network

[01:51:09]

[01:51:09] Through emails through webinars through eBooks my brother wrote an ebook that you can get at our website’s free And then of course the blog my brother’s a great writer He writes our blog at the

[01:51:19]

[01:51:19] At our website as well And it’s all about education So providing that Education because like we talked about earlier there’s not enough people that know about the benefits of real estate I think And if they did they would probably be more people involved And so that’s that’s a large part of what we do is educate And it sounds like that’s what you do a lot as well I mean podcasts are probably one of the best

[01:51:40]

[01:51:40] Free educating education sources out there but

[01:51:44] Mike: [01:51:44] You know you brought you bring something really interesting to the table is there’s a lot of people that don’t know about that real estate We talk about that a couple of times on the call here just briefly like that What’s really what’s what’s an interesting conversation is how do we get to those people How do we get to those people that don’t know you know cause on social media we’re we’re involved in these communities and with each other that you know that’s how we met was on on social media right And everybody already knows about real estate but how do we get to the to the to the new investor the person who doesn’t know about real estate who wants to learn that we can go and teach right Cause that’s where our greatest value is Right You know I heard a I was listening to something this morning

[01:52:28]

[01:52:28] On YouTube and Jim Rowan was talking about

[01:52:31]

[01:52:31] Learn use it and give it away I thought wow What a great concept Right And that’s what that’s exactly what you’re teaching You learned it you use it and now you’re going to give it away And I think that that’s really it’s commendable but how do you get to those people and talk about your active campaign a little bit So yeah I think I’ll

[01:52:53] Chris: [01:52:53] touch briefly on how we we meet new people Mainly we have a monthly meetup We do and that’s been really key for the year of 2020 of course

[01:53:03]

[01:53:03] You know physical meetups are great but the power of online virtual meetups that we’ve seen over the 2020 year has been just amazing from your home You can Go out and network with you know hundreds of people We’ve had you know we we we bring on a guest speaker

[01:53:18]

[01:53:18] Every month we do a wealth and whiskey mastermind we call so you can bring a drink

[01:53:22]

[01:53:22] But we’re we’re getting you know 50 60 people showing up and that’s really I think one of the most powerful ways to meet new people And and of course we advertise that that event on social media And so how do you get that event seen on social media That’s another story but

[01:53:37]

[01:53:37] You know you being in these Facebook groups that that orient with what you like to do I think is pretty a good way to so if you are big into tech go join some Facebook groups and maybe talk about real estate

[01:53:49]

[01:53:49] You don’t necessarily have to join a real estate group to talk about real estate You can go talk you know go join an art club and talk about real estate I think that’s a very missed

[01:53:58]

[01:53:58] Technique that people are using They think they have to go to BiggerPockets too or some forum to talk about real estate Go talk about with people have no idea that’s where the real power is because then you’re going to find new people to it

[01:54:10]

[01:54:10] Especially if you’re looking for you know investors or partners or that kind of thing but a couple of ways

[01:54:16] Mike: [01:54:16] Yeah Interesting

[01:54:18]

[01:54:18] I like I liked the point you made about a meetup you know I’ve I’ve a couple of meetup groups and I have about a hundred people that are signed up on on both of them One’s for property management one’s for multi-family but I find it interesting how many people actually show up you know for you know four or five people

[01:54:36]

[01:54:36] I I did this marketing push To about three weeks ago to do four weeks about goal setting And how do we prepare for the new year coming up Right Hey 2020s behind us it’s kind of been you know good and bad but how do we review that year How do we set some goals How do we build some systems and strategies now How do we execute And the first week I had about 22 people on and last week one person So you know

[01:55:07]

[01:55:07] That’s pretty

[01:55:08] Chris: [01:55:08] typical though I mean from if I’m everyone I know who runs a meetup group you can expect You know if you have a hundred people to join or a hundred people sign up you can expect about 30% to show you already

[01:55:18] Mike: [01:55:18] had 40% kind of reflects Right I mean people only stay committed or there’s another shiny object then they run after the shiny object Right Yeah Right One thing I’m sure you learned in the military is don’t chase shiny objects Yeah No Yeah So one of the one of the things I’d like to know is

[01:55:38]

[01:55:38] A couple of technology things that you guys like to use that

[01:55:43]

[01:55:43] Are good for your business systems technology what works for you guys

[01:55:49] Chris: [01:55:49] Yeah I mean I’ll dive into that That’s kinda my area

[01:55:52]

[01:55:52] So we have got into active campaign recently I I recommended if you have a

[01:55:57]

[01:55:57] Service product business that you’re trying to automate communications keep track of contacts Keep track of

[01:56:04]

[01:56:04] Your I guess closing or or sales

[01:56:08]

[01:56:08] It’s a great product for that tool

[01:56:10]

[01:56:10] Basically what it does is it can automate a lot of those pieces So if you have say a form on your website and someone signs up for it you can trigger a month long or even year long automation where right They’ll receive certain emails over What’s called a drip campaign

[01:56:26]

[01:56:26] Over a certain period of time So you’ll have pauses If they do certain actions it will take different steps So for example if they fill out the form and they say I’m an accredited investor When they they that form goes into active campaign that contact now says accredited and you have a whole nother list of emails that will shoot off based on the fact that that tag or that variable now says accredited So really powerful to get those automations working for you You don’t have to go hire a virtual assistant to Follow up with someone or contact someone

[01:56:59]

[01:56:59] Especially in this game it’s about building that relationship It’s about providing free information And so if that’s upon you as a person to log in every day and write an email and log it that’s just going to you You can’t do that at scale So having a tool like active campaign is It’s really great We’ve used a couple though Cali everybody knows Calendly or these automatic call schedule tools Those are a huge time-saver you know how I don’t know I’m in in it So

[01:57:26]

[01:57:26] In the business or I mean the W2 world sometimes you spend so much time just trying to schedule a meeting you know are you available on Friday Are you available on Monday Well how about 2:00 PM Yeah So Kelly just allows you to it looks at your calendar and people can pick a meeting time and

[01:57:42]

[01:57:42] But we we use monday.com too for project management

[01:57:45]

[01:57:45] If you’re familiar with monday.com it’s like a sauna

[01:57:49]

[01:57:49] Those are kind of some of the big ones we use I could go on and on We

[01:57:51] Mike: [01:57:51] have like yeah Yeah that’s good though That’s good information So

[01:57:56]

[01:57:56] So if you were given a new investor information you know some advice what would that look like today Or what would that sound like to a new investor coming into the business

[01:58:09] Ashton: [01:58:09] Well first I think we we’d look at you know where I know I’ll come back to this but what does he want What I mean what do you want what are you looking for What do you do you want to retire in three five years If do you want to build up a nest egg or are you just looking something to augment your current income

[01:58:26]

[01:58:26] Excuse me Like what what exactly are you looking for So because that depends Are they looking for another job they might get into being an active

[01:58:36]

[01:58:36] General partner on a date on big deals like this and then going in or do they like finding deals Do they like doing the underwriting Do they like managing do they like you know finding all the vendors that we’re going to work with So It really I think is kind of a tough one to to say what do you say to that person Because I need to know I need to know what they want like but at the end of the day I think if you look at it like first get clear on and your goals you know

[01:59:03]

[01:59:03] But also

[01:59:05]

[01:59:05] What are you good at And when you realized that you know you just said Jim Rome Keys that I love some of his quotes he’s has some of the best quotes Right

[01:59:14]

[01:59:14] But

[01:59:15]

[01:59:15] I like this African quote that I’ve heard is like

[01:59:18]

[01:59:18] Go fast

[01:59:19]

[01:59:19] Go fast alone or go far together Or as Jim Ray roam puts it nobody’s smarter than all of us When you realize that this business is a team sport

[01:59:29]

[01:59:29] Now you just have to figure out what you’re good at And so yeah Like you come in Like when we first started I was underwriting deals Chris was underwriting deals We were doing talking to contractor We doing we were doing everything We were in every hat in the business and you quickly realize That there is no way to do business If you want to be efficient you need to find people that are good at that stuff And yeah I really didn’t like underwriting I really didn’t And

[01:59:55]

[01:59:55] But I thought I had to do it And so it’s good to know it Absolutely It’s good to know how the how it’s put together and how your business plan works off the numbers and why it works you know But

[02:00:05]

[02:00:05] If you can find somebody that’s good at that you know or likewise like if you’re really good at underwriting maybe you need somebody that’s good at At at talking to brokers that talking to investors or partners and and building those relationships So

[02:00:18]

[02:00:18] I think that’s a great place to start is like figuring out where you want to go and then what your goals are And one of the things that are sorry what you’re good at

[02:00:26] One of the things go ahead Yeah So one of the tool like I said so being clear about where you want to go and then figuring out what you’re good at And one of the tools that we use to figure out what we’re good at is first

[02:00:38]

[02:00:38] Figuring out what was required of our business and a book that helped us with that was traction and the whole EOS model If you’re not familiar with traction and it’s written by Gino Wickman really good on how to lay out your business and who needs to be in what seat And then

[02:00:53]

[02:00:53] Another thing that helped us if we use the disc profile that Tony Robbins has always he promotes right

[02:00:58]

[02:00:58] It’s actually free on his website I think But if you want a more in depth you have to pay for it But

[02:01:02] It’s pretty good because when you When you look at like okay this business our business it needs this person this person this person this person they all have different jobs You know if there’s only two of us or if there’s you know more who fits in those roles and And to do that

[02:01:19] You gotta look at a person’s personality because if somebody is a people person and they’re not huge in the details like myself I’m more of a big picture mindset

[02:01:28] Building relations that kind of thing Like I am a T I’m going to be a terrible person to be in the operations side Cause I’m gonna miss a lot of the details I’m a terrible person That’s going to be on the

[02:01:37] You know on the underwriting side because You know I’m going to miss the details or I’m going to not care about them I’m like yeah this looks great You know or whatever but certain people in certain roles and when you can identify what your strengths are like people always say what your superpower is man You can bring so much more to the team And that takes a little humility obviously right Because you gotta be like well I can do that stuff but I’m not good at it So let me get somebody

[02:02:02] Mike: [02:02:02] else you know It’s good to know your strengths and your weaknesses like that And then you know where you fit and I’m like you I I’m I’m a Rainmaker I love building relationships and looking at deals but but I hate

[02:02:17] I hate The little details you know I I get lost in that And so yeah Anything you want to add Chris

[02:02:27] Chris: [02:02:27] T to a new investor Yeah So I mean we do these calls all the time We have we have free scheduling Like we really leave it open for you know a 20 minute intro to a bunch of different people I’m also on BiggerPockets all the time So I’m connecting with really new investors and you know I try to do it on LinkedIn LinkedIn at a different crowd

[02:02:46]

[02:02:46] But So we have these talks and I just say yeah it’s about finding out what what is driving them to to come into real estate What are they looking for And then we can kind of go from there And the first of the calls that we do you know and and I got this I forget which book but it’s it’s 70% about the person 30% should be You Are you talking

[02:03:06]

[02:03:06] The communication 70% about the new investor find out like really what drives them You know what is making them have this

[02:03:13] You know desire So and then you can kind of you know help guide them along but we’ve found multiple different reasons you know like you said building retirement tax deductions passive income I’m just curious you know like it’s Yeah

[02:03:30] Mike: [02:03:30] Yeah Interesting Well listen guys this has been very enlightening I’ve learned a lot I’m sure that

[02:03:36] My listeners have learned a lot today so I want to thank you guys for being here Hey

[02:03:41] I think that Ashton mentioned Chris that you have an ebook You want to talk about that and tell listeners how

[02:03:48] You know if they want to get a hold of you And How they would get ahold of you

[02:03:52] Chris: [02:03:52] Definitely Yeah So the best way I mean we we put everything on our website So Valkyrie group.com V a L K E R E group.com

[02:04:01] The free book is the first link right at the top in the menu bar

[02:04:04] It’s also on the main page

[02:04:06] But yeah the the book is awesome It’s it’s

[02:04:08] Your path to freedom

[02:04:09] Is the title but basically what it does it preps a new investor to understand the difference between passive and active investing and it kind of details the high levels of What there’s about six different

[02:04:21]

[02:04:21] Variables that I go through that that Kind of help you decide if you are active or you’re passive or which one aligns more with your current life situation

[02:04:29]

[02:04:29] Your current goals And

[02:04:31]

[02:04:31] You know just to give a highlight like time is a big one for a lot of people If you have a lot of time maybe you’re an active investor Maybe you want to be active You know if you’re young and you got all that time in the world but if you’re in your forties and you have a family and you have W2 job maybe don’t have time So that’s just one kind of variable that you might look at to decide if you’re passive or active So go check out that ebook it’s on the website

[02:04:52] Belkery group.com We got our contact information on their social media me and my brother Ashton We’re we’re on

[02:05:00] A lot of social media networks You can search for our names as well LinkedIn BiggerPockets we’re all there but if you want to just straight go to the website we’ve got a lot of contact on there and a lot of different

[02:05:10] Mike: [02:05:10] resources Awesome Asked him what do you want to add to that

[02:05:15] Ashton: [02:05:15] Yeah I mean if you are starting out we’ll find somebody like Chris here because they make everything easy

[02:05:23] Chris: [02:05:23] Thank you

[02:05:24] Ashton: [02:05:24] Yeah I mean he he’s built our website He’s he’s built all the processes that go on behind the scenes you know

[02:05:30] If I had to track every contact every phone call every man I would be lost and I would be there’d be stacks of papers of contacts and people and notes you know So

[02:05:40] If you’re really starting out I recommend that book traction you know I’d recommend figuring out getting clear about what you want and then formulating a three to five-year plan Yeah

[02:05:52] Yeah Clarity commitment and daily action

[02:05:54] Mike: [02:05:54] So real quick you know you brought up an interesting point a three to five-year plan Where do you guys see yourself in the next three to five years Well

[02:06:04] Ashton: [02:06:04] we both have W2 jobs right now

[02:06:06] Albeit they’re not full-time but

[02:06:08] Yeah the plan is to be able to walk away

[02:06:13] Within what 2022 is by the end of 2022 So we’re already one year into our three-year plan Our plan initially was 500 units under management you know cash flowing about 15 to 20,000 a month And

[02:06:29]

[02:06:29] We’re at 246 right now So 246 units So we’re about halfway there and we still got two years left So we’re we’re excited I mean we may have to shift some of the goals but

[02:06:38] That that’s where we’re going And our big plan really is to create the lifestyle that would allow us to only work around six months a year So And by work I mean like actually hunting down deals closing on deals setting up all of that But

[02:06:54]

[02:06:54] Yeah so th that’s kind of where we are We just want the choice right It’s not necessarily I love what I do I have a lot of fun I think Chris likes what he does as well

[02:07:02] But yeah we just want the choice So

[02:07:05] Mike: [02:07:05] yeah You know I think that’s really important and

[02:07:07] Is that we have the choice and you know we talk about why we’ve talked about that a couple of times on the call And I think a lot of times people just

[02:07:16]

[02:07:16] That ultimately becomes a Y I just want to be able to have the choice to. To get out of bed today or not to go golfing or not, or to go to work or not, you know, and it’s, it boils down to choices.

[02:07:31] So, Hey guys, I’m really glad that you’re here. I’m glad that we connected Chris on LinkedIn.

 

[02:07:36] That’s where we met. And I think LinkedIn is a great place for building relationships with people and developing relationships. You know, here’s what I would say. Anybody who’s looking for a syndication firm to be partners with, to be a passive investor in, I would give these guys a call and,

[02:07:53] You know, find out a little bit more about them.

[02:07:56] I want to thank you guys again for being here and all my listeners for being here. Remember we’re here every Tuesday. So,

[02:08:03] Please follow us on social media, like us on YouTube, subscribe, you know, do all that crazy stuff. Right. And,

[02:08:10] Stay in touch, write reviews for us. Tell us how much you love us. So, Hey, thanks for being here.

[02:08:15] We’ll see you guys next Tuesday, Chris. Ashton. Thanks again.

[02:08:19] Thanks.

[02:08:20] Ashton: [02:08:20] Appreciate it.

Kristen: 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.

[02:08:43] We’re looking forward to having you back again next week for more insider secrets.

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