Insider Secrets Podcast Episode #99
Guest: Candyce Henderson
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When it comes to choosing a real estate professional to help you with your home buying or selling needs, only the very best representation is good enough. That’s why it’s so important to choose someone who has a strong pulse of your local market and the experience, skill, and resources to back it up.
As a real estate professional that specializes in our local marketplace, I would welcome the opportunity to talk to you about your real estate needs. My experience, extensive training, knowledge, and strong negotiation skills, combined with Coldwell Banker’s resources, all help me provide my clients with unsurpassed service.
You want to make sure that when you’re dealing with that one person or that group of people, they have that same belief that you do and it will overflow in whatever you do.
I feel it’s better to have the fund ready and always raising capital, putting the money in that fund. And then suppressing it once you find a deal that needs it.
I think my relationship with God is the most supportive that helped me get through everything.
I think if you set the standard in the beginning, that’s the most important thing. You have to set it right off the get-go. If you don’t, they will.
I think we need to pump the brakes a little bit on overpaying. If you’ve got property, you’re already making money. I think just let’s slow down a little bit.
I like to run the numbers and run them conservatively and go back to the basics sometimes so you don’t get caught in the trap.
You could have the best deal in the world and you’re with the wrong partner and they could take advantage of the situation. It won’t work out for you.
Make sure that you have a great agent. The numbers have to work. It’s the basics, know your numbers. (Insider Secret)
“Majority of my friend in my twenties built Atlanta. I was around those individuals when they were building Atlanta. I saw how they were generating money and wanted to involve” – Candyce
“I started with residential as most do. I have a team here that does residential, but I like the commercial end of things” – Candyce
“We have 16 agents now. They are phenomenal and help each other quite a bit” – Candyce
“We were dealing with over 20 or 30 offers and now it’s gone down to about 12. I do see a slowdown, especially in the higher-end market that slowed down completely” – Candyce
“I have got a bigger project that I am excited about that is a development project, my first development project. So I have got 620 acres in Texas that I want to take down” – Candyce
“What I learned very early on, but the light bulb went off eventually and I realized that you can’t allow people to treat you a certain way, especially in this business” – Candyce
“If you keep that same component of just knowing who you’re doing business with, you’ll be fine. You’ll be a hundred percent fine” – Candyce
[01:50] I am going to introduce Candyce Henderson.
[02:35] In one word, what best describes you personally and professionally?
[03:19] Candyce shares her backstory.
[04:24] Talk about your residential team a little bit.
[05:13] How big of a role in that team do you play?
[07:27] Where do you see the market headed?
[09:03] Candyce talks about her favorite asset class.
[10:22] So what are you working on these days?
[14:31] What was a defining moment in your life in the real estate business?
[16:20] If you’re putting deals together, you have to be raising capital. What’s that like in today’s environment?
[19:52] How do you deal with work-life balance?
[21:21] How do you make high-stakes decisions?
[25:46] Candyce talks about pitfalls in today’s market.
[26:20] As a woman entrepreneur running a business and running life, what’s that like in today’s world?
[30:00] What’s your favorite tourist attraction?
[30:53] How about your favorite restaurant?
[31:18] Best book you’ve ever read?
Cell: 404 431 5522
Kristen: [00:00:00] Welcome to this edition of Insider Secrets, the weekly podcast that turns real estate investing goals into reality. Each show we interview guests who are seasoned real estate professionals, actively closing and managing real estate deals. Mike is the founder of My Core Intentions and would like to help you make your real estate investing dreams a reality.
Mike coaches you to buy investment real estate, creating short-term cashflow and long-term wealth. Your host and real estate coach Mike Morawski has more than 30 years of real estate investing and property management experience. Here’s your host, Mike.
Mike: Hey, welcome back everybody. It’s Mike, your host of Insider Secrets, and I am joined today by a special guest, Candyce Henderson. Hey Candyce, why don’t you tell people what we’re going to talk about on today’s episode?
Candyce: Hi Mike. I love to. We’re going to speak about investing in commercial real estate and relationships, and I’m very excited.[00:01:00]
Mike: Awesome, Candyce, it’s a pleasure. Hey, you’re going to have to listen inside in order to get the full show.
Hey everybody. Welcome back. It is Mike, your host of Insider Secrets, and we are with you today with another episode. I’m glad that you’re here today. Hey, I talk to you every week about what are your intentions? And we’ve been doing this for a while now. Have you had the chance to think that through?
Do you really know what your intentions are? And I always ask because you get up in the morning and do you think it through?. What’s empowering you. What are you looking to do with your real estate business, with your multifamily business? The one thing that I always teach people is how do we create more long-term wealth and short-term cashflow.
How do we create cashflow to get you out of the rat race? You know what, today I’m super excited. Actually, I’ve been trying to get this guest on our show for a while. I am going to introduce Candyce Henderson. Hey Candyce. How are you?
Candyce: I’m great. Thanks for having me.
Mike: Great, Candyce and I met on [00:02:00] clubhouse several months ago and, we wound up finding out just to show you how small of a world it is. We wound up finding out that we went to the same high school, not around the same time but, we went to the same high school. And we’ve just laughed about that and laughed about some history in our own lives in that. So I’m real excited about what’s going to transpire on today’s show. But here’s what I want you to do.
I want you to think about what you’ve been learning and how you’ve been growing. We’re going to dig in. I’m going to introduce Candyce right now and we’ll get started. Candyce, one question that I always like to ask my guests is in one word, what best describes you personally and professionally?
Candyce: One word I opt to say first thing that comes to mind is love. I like to do everything with love. Put everyone else first and with no expectations and and they will come to you. So that’s the one where at.
Mike: So that’s super interesting. And I’ll tell you why. This is my 99th episode and you’re the first person that’s [00:03:00] ever used that word in the episode as the word that describes them. Hats off to you. I think that’s really cool.
Candyce: Thank you.
Mike: So why don’t you give some background about yourself. Talk about, how you get into the crazy world of real estate and selling real estate, multifamily. And I know you’re doing some deals, but why don’t you give some of that.
Candyce: Yeah, majority of my friends, when I was in my twenties, they built Atlanta. They have since passed away, unfortunately. I was around those individuals, when they were building Atlanta, they were building the skyscrapers and everything else.
I saw how they were generating money, how they enjoyed what they did. And I wanted to be involved. Didn’t know at the time that would be what I would end up doing. But later in life, when after I had my children, I wanted to be at home with my kids. I thought, let me start doing real estate.
So I started with residential as most do. And I have a team here that does residential, but I like the commercial end of things. I prefer that over residential. I don’t like the emotions. The numbers don’t work, then we move on to the next one. But so I [00:04:00] started doing commercial and I fell into that and never looked back. So I love it.
Mike: That’s pretty cool that I like what you said about it, you keep your emotions out of it. I always say in the real estate space, in the commercial space, multifamily, wherever we’re at it, has to be math over emotions. And I think on the residential side, there’s so many people emotionally involved. Talk about your residential team a little bit. I don’t know that I knew that.
Candyce: Yeah, we have 16 agents now. They’re phenomenal. Like I said, they help each other quite a bit. We’ve got an intern that just does signs and put signs out and stuff like that, but they work very well together and they help each other out. We’ve got a team that if they will take over someone who’s on vacation or someone needs help with the transaction, they’re all there for each other, which is the best part of our team. But like you said, back to that emotional part, I like them dealing with that because to me, I don’t want the rollercoaster ride.
If the numbers don’t work, they [00:05:00] don’t work and everyone seems to be happy at the end. But yeah they’re great. They’re a wonderful team and and they’ve always worked and we keep growing too. So I think I want to pump the brakes a little bit, but I’ll let them just make that decision.
Mike: Yeah. Interesting. What part of that do you play? How big of a role in that team do you play?
Candyce: You know what? I let them know with partners. I just oversee to make sure that they’re doing the right thing by the law. I’ll look at the contracts and make sure the contracts are written properly. And if they need anything, they can call me. I’m always here. I want to make sure always following the rules and the regulations and that’s about it. Pretty much suffice by themselves. And they have each other, but I’m always here if they have any questions or need anything, I’m a phone call away.
It could be any time. Doesn’t matter if it’s three in the morning, if they need something I’m here. Something pops in their head. I say, just call me if I don’t answer, then text me. And the minute I wake up, I got it for you. So that’s how we help each other out.
Mike: They call you in the middle of the night?
Candyce: You know what? No, but each person’s different, right? So you learn someone, some people like to text some like to call [00:06:00] and you learn people’s patterns. So I got to know which ones need more hand-holding than others and which is not a problem. But you learn that over time. So they’ll text me.
They’ll always texts me first. I don’t want their call, but if I’m asleep, I won’t answer, but if they text me, they’ll get it when I wake up. But I don’t want them to forget the question. So I always say, text it, don’t think that I want them to always know that I’m here, so I don’t want them to think they can’t ask me.
Mike: Yeah. I remember when I was on the residential side and building a team and, it’s always interesting with all the different personalities and the people around, and then you take the sellers and buyers and today’s market is a lot different than it was then. Cause the market is still extremely hot in the residential sector. Isn’t it?
Candyce: Extremely. We’re still seeing let’s say the last one that they had the most recent there was I want to say 12 offers on it. We were dealing with over 20 offers, or 30 odd offers. Now it’s gone down to about 12. I do see a slow down, especially in the higher [00:07:00] end market that slowed down completely. But the $400,000 range to $600,000 range and below, sorry, about 500 and below in this area, it’s still on fire. Yeah.
Mike: That’s interesting that you said you’ve seen that slow down now. So
Candyce: The high end. Like the million dollar houses.
Mike: So where do you think the market is? And I hate to really like timestamp these at all but where do you see, we’ve been doing this a long time you and I, and where do you see the market headed?
Candyce: I have an interesting perspective on this. I believe that we might be at the new norm. Unless we have something catastrophic, no one knows. We didn’t see 2008 coming. Some people did, they might’ve had the indicators. We might be at a new norm.
I think once we get building, the builders start building more. They get supply chains handled, that will help bring it so that we’re more than necessary demand. Okay. The building people building and building, we have supply chain issues right now, so that the builders can’t build quickly. But I think [00:08:00] I don’t see prices falling down like they did in 2008. I don’t see that. I see them leveling out and staying steady, but I don’t see them going downhill, dropped in the way they did.
Mike: Yeah. I certainly don’t see what happened in 2008 happening again. I don’t think some of the fundamentals are there. I do see a correction coming though. When we look around right now, we see interest rates going up, gas prices on the west coast at seven bucks a gallon here in the Midwest at five bucks a gallon. How much has gas by you?
Candyce: It was almost five. I kept thinking it was gonna go to five is it’s about 4.50 right now.
Mike: Okay. Yeah. See. And bread’s more expensive. Milk’s more expensive. What’s interesting is earlier this year, lumber prices went so high. Then they came back down and now they’re saying, they’re going back up again. With all that happening you have this inflationary issue that’s going on. The best way to offset that is to create cashflow for people in high [00:09:00] rent growth real estate. I know you spent some time in the commercial side. Do you have a favorite asset class?
Candyce: You know what, honestly, I’ve always liked industrial. I love it because I think that like supply chains, once they get fixed and we have everyone ordered online, I like industrial just because everyone loves multi-family. I think multifamily is saturated though. Everybody is chasing the same thing. When they pivot, I want to go the other way. I like industrial just because you have the long leases, you have no HOA. And there are people that were born in that direction with Amazon and everybody else that was ordering online more. They need the warehouses. So I just liked that market. I enjoy it. I think it’s steady. I think it’s stable. That in storage units, of course. That’s flooded too a little bit so.
Mike: Well, and I always thought storage units were somewhere to be right. And industrial, because you don’t have the tenants, like you typically having in multifamily, you know me though I love multifamily.
Candyce: I know. That’s good.
Mike: That’s where I [00:10:00] left residential and cut my teeth in that. So what are you working on these days? Cause I know that you’re working on a deal.
Candyce: I’ve got a couple, I’ve got a commercial piece of property in Texas that we would probably put an offer in the morning and I’m doing that with a group of people and some of them actually, most of them are new investors. Another individual that runs a group, he runs it. He’s phenomenal. And taking the lead on it. And it’s actually a friend of mine is selling it so it’s off market. So no one knows about it. So I said, let’s put this together and we presented it tonight to them.
And they all loved it. I’m going to call the tax assessor tomorrow and make sure that the taxes work out and fully leased so that’ll be good. And we’ll take that down tomorrow hopefully. And I’ve also got a bigger project that I’m more excited about that is a development, my first development project. So I’ve got 620 acres in Texas that I want to take down.
Mike: Wow. So that’s a little ways from home though, right?
Mike: And [00:11:00] what will you be building on 620 acres?
Candyce: It’s 70 acres of commercial and the rest is residential, but it lays next to a highway. So I’ll bring a experienced developer in and I’ve got someone in mind. He does really big deals like that. So I’ll let him take the lead on the commercial part and then I’ll bring it somebody else that could come in to do the residential part.
Mike: So do you find it difficult to put deals like that together yourself?
Candyce: No. Not really, because there’s not that many components. But as long as you find the right people, you’re good. That’s how I’ve always led, just find the best person and the best person will, people talk about that breast person, right? They’ll say, oh, this guy is the best. I try to bring the best in the business to whatever project I’m doing. No matter what, whether it’s fixing the house, whether it’s a builder, a developer, no matter what it is, I want the best.
Mike: And so is that because of relationships you have built over time that you know people, or do you actively go out and seek people that you [00:12:00] need?
Candyce: A little bit of both. People that I know and I go back to the same thoughts too, and that is if you treat people the right way, it comes back to you. I’ve been lucky also a little bit of luck there too, but you just typically you just kinda know and when the same person that’s talking, like I’ll fly in for all these things in Texas.
I don’t care if it’s in Wyoming, wherever there’s a situation that we can do. So that’s going to be good for everyone. I’ll fly it. It doesn’t have to be here in Georgia. But you always will hear about that same person’s name and, I sit back and watch and see how they perform, how they do something just to double, triple check to make sure that they are on point, they do what they say they’re going to do, and they’ve got great reviews. So it was a little bit of both. Yeah. I’ll get a combination of people that I know tell me, and then I’ll do further investigation after that.
Mike: What’s interesting is this a such a relationship business? And a lot of times I think that like you and I, we had this relationship that kind of just sparked. I think it’s because we [00:13:00] both came from the same place, which is Hey, what can I do to help you?
Mike: And there’s so many people, I think that don’t do that. I had somebody say to me one time. When I connect with a ton of people on LinkedIn and I try to connect with as many people as I can just to build that network, that circle of influence. And I’ve had people say, one of the questions I always ask is, Hey, what can I do to enhance your network? Or what can I do to add value to your world? And, I’ve had people say, man, nobody ever asks that question. And I know that’s something you ask all the time.
Candyce: I think that’s why you and I felt so comfortable with you and I’ll tell you if you want to sleep good at night, I don’t know who taught me this. I wish I could give them credit, but I don’t know who it was. If you want to sleep well at night, who you pay is the most important component. You could trust them, their hearts in the right place. Cause there’s a lot of things that go down these situations that happen during a transaction where, there could be money exchange and there’s just all kinds of different things that could happen.
And you want [00:14:00] to make sure that when you’re with dealing with that one person or that group of people, they have that same belief that you do, and it will overflow in whatever you do. So I just live by that and it’s never done me wrong yet, so not fun some would, but I just live by that.
Mike: Yeah. And, I think that’s great. And that’s what attracts people to people, right? You tend to get repelled by somebody who doesn’t behave that way or have that mindset, the same ethical and moral standards. And you just can tell that. Hey, let me ask you this. What was a defining moment in your life in the real estate business? Something that you realized, oh my God.
Candyce: Trying to think. Probably when I closed on one of my first transactions, I’m trying to think. Oh yeah. One of my first, I had been dealing with residential for awhile, and then I had the first gentleman call me and it was an investor, I switched from their residential to the commercial because you never know if you could do [00:15:00] something right.
And you’ve been distant for so long and people will try to scare you and say, oh, a different world, different animal. Don’t get involved with, don’t tell me that. Cause they’re just telling me that I want to jump in both feet. And there was a gentleman here actually right where I live, not far from where I live and he I don’t know how he got my number to this day, but he called and he said, I want you to go get this property for me.
And I didn’t know at the time he was testing me on a little one to see how I did, so then I can go buy bigger properties for him. And I couldn’t write it down fast enough and it was ready to go get it and we did. And we get that one for him. And then just kept. Now we do multi-million dollar deals, but it was a little bitty house.
It was an investment property, but he was just testing me. And he told me that later, so that I remember sitting at the closing table and just cause I knew that he has had done bigger deals. I knew that he was a statue that I would like to have as a client and like to help and I just didn’t want to make any mistakes at the closing table. So that was probably defining. The [00:16:00] light bulb went off and I did it, and I never looked back. And that was him.
Mike: Yeah. We have those moments in our lives, where you realize. And I like what you said, you think he was testing you? I think that we have those tests along the way. Right? Where people check us out. So pretty cool. What about I want to talk real quick about raising capital.
Mike: I’m sure if you’re putting deals together, you have to be raising capital. What’s that like in today’s environment?
Candyce: I’m a one that I learned from somebody that does it a certain way. And I really like how she does it. She’s always raising capital. She has a fund. So instead of waiting for the deal to come along and get going and get new capital then, I feel it’s better to have the fund ready and always raising capital, putting the money in that fund. And then suppressing it once you find a deal that needs it. So I like that better. You’re still, it’s the same thing as always, you’re still asking for money, it’s still the same way. You got to make sure that the returns are good, but I liked that way of doing it better, where you’re putting it in that fund.
Mike: I think we’re always asking, right? We [00:17:00] always have to be in that relationship and it just goes back to real estate. I think so many people don’t know what people do. Like we could walk into a room in a party and just assume everybody knows that we’re in real estate and that’s what we do. He start talking to people. And you realize that they don’t know. So unless we’re asking, we always have to be asking.
Candyce: Yeah. I like to be describing. What I like is to describe what I’m working on and the returns, and then they get interested that way. I prefer it like that. Oh, really? Give me a call tomorrow, let me know about that. Okay, sure.
Mike: Okay. And what kind of returns are your investors looking at today? What do they want to see?
Candyce: We’ve got any range from 10 to 20%. That’s where I like to give them. 6% is not going to do it. It’s not going to do it.
Mike: So are you talking about total return? Are you talking about cash distributions?
Candyce: Cash on cash, distribution.
Candyce: Yeah. Depends on the asset. It’s a value add, then you could do that, you have that room. But it’s [00:18:00] getting tighter because the rents have been so inflated. Okay. So we’re starting to pivot away from the value add component because the rents are increasing now, but the material costs are going up as well. So you have to do all those numbers and, right now they’re fine, but if the rents were to not stay that level, then we can’t give that return, obviously.
Mike: And I think we’re starting to see a little bit of a shift. And here’s something that’s interesting that’s been happening is I’ll go and I’ll download an OEM that, I’d probably get 30, 40 deals a week across my desk. They’re not all worth looking at, but the ones that I do download to send to my analysts I’ll pull them up. The brokers are calling after you sign the CA, which they weren’t six months ago, they weren’t calling and now they’re calling often. So I think some things might be changing a little bit. Here’s what I’d like to see a back-off on. And that’s for a while they were trying to sell these deals a year [00:19:00] two and year three proforma numbers.
And I can’t see that, but a lot of people are buying them at that. But I can’t see doing all that work to get to year two and be a zero in and a half to start all over again. So it’s interesting. And I think we’re going to see some changes.
Candyce: I agree. I’m seeing shifts too. I’m building the same. It’s almost like you could feel without even seeing it yet. I try to stay plugged in with all levels of it. I’m actually even seeing, I had a first person call me and tell me that even in Texas, the builders have reduced the prices a little bit. But they’ll say you have to sign on dotted line by this time. So they’ll increase it and they’ll increase it and then decrease it so that you only make out about 5,000 when you’re a purchaser of the new construction. But for them to be doing that is another indicator, like you said, with the brokers calling us now. I see things shifting too.
Mike: Yeah. So how do you deal with work-life balance? And knowing what I know about you in a little bit of time, and you have a couple of daughters [00:20:00] and how do you deal with work-life balance?
Candyce: You have to just do it. I’ve got twin girls and they are 15. So you can imagine cheerleading, golf, they’re in different activities. It’s a struggle, you just figure it out at the times or they’re at school. You work in between their school schedules, their after-school schedules and stuff like that. You do a little by little and you’ve worked it out and and call people to help when you can.
Mike: Any daily disciplines that you subscribed to for yourself?
Candyce: I think my relationship with God is the most supportive that helped me get through everything. I have a very close relationship with him and I give him my worries and let him guide me as much as possible. I try to eat very healthy as well. I’m not complete vegetarian, but don’t eat a lot of red meat at all. I eat very healthy. And I do have some walks here and there that I take. My relationship with him is exactly what’s got me through everything and always to be fulfilled and protected to make sure I make the right decisions. So that’s my biggest discipline is what he gives me [00:21:00] on daily basis.
Mike: I’m glad that you brought that up. Cause you know what, I think it’s important in life today, and I don’t know if it’s because you get a little bit more wisdom the more years you put on, right? What about hi stress, real estate can be very stressful. We can be at our client’s demands, whether they’re buyers, sellers, investors, we’re dealing with private equity investors. When you deal with stress, how do you make high stakes decisions?
Candyce: I’ll tell you, I deal with things a little bit differently than most people. What I learned very early on, but the light bulb went off eventually and I realized that you can’t allow people to treat you a certain way, especially in this business. And they will think they can out of the gate I don’t tolerate anybody telling me. I knew where my heart is. I know where my goals are. I know what I’m doing for those clients and these investment groups and anybody that needs anything. I know what my standard is.
They’re not going to be telling me, pushing me around or this or that, because I won’t work for them. That’s just a simple matter. I will allow that [00:22:00] stress. This other stress from the other side, then you just handle it, if they need something, you handle that, this and that. But as far as my client, and as far as my group that I’m trying to find something for whether it be multifamily or not very honest and truthful with them. If you’re looking for something doesn’t exist, I would say we don’t, that cap rate doesn’t exist.
You can go to another realtor, another broker they’ll tell you that does, they want your business. They can lie to you and you go through the dance and this and that. And they know that about. I think they appreciate that. Cause I just won’t tolerate that. I’m going to be very honest with them, transparent with them and that’s just what I do business. I don’t allow them to stress me out ever. It won’t come from my, it only usually comes from the other side. It doesn’t come from my end because I’ll let the client know too. If they’re being too pushy about me wanting to reach out to the other side or something else, I’ll say, we’re going to get five questions and you’re going to tell me the most important five questions, not funny, and we’re going to do it that way. So I don’t allow it on my end. [00:23:00] It may come from the other side, but you can manage that too. So you’ve been doing this long enough.
Mike: I always like to ask that question because so many people have different answers, how they deal with it. And some people are really rigid and they think things through and some people just let it roll off.
Candyce: I think if you set the standard in the beginning, that’s the most important thing. You have to set it right off the get-go. If you don’t, they will. They’re individuals that they will drain you and you will have nothing left. So if you set those standards in the beginning, they know their parameters and essay within that.
Mike: That’s what I always say about the property management business is when you’re working with a tenant, you have to teach your tenants from that first encounter with them. Hey, you know what? You’re in my school now. Otherwise they will try to overtake you.
Mike: So it’s really important that you set those standards or boundaries upfront. So, good point. Technology. What do you like about technology? Your two or three favorite platforms that you like to use today?
Candyce: Oh, my goodness. I need all the help I can get with that. So my assistants, my best technology. [00:24:00] I’m LA CoStar. I’ve got CoStar. I still like CoStar. You’re asking me that question. Is that what she want to know?
Candyce: I like CoStar a lot. There’s one that I just found out about. I can’t remember it. It’s for finding out the rents to little hot, higher end. And it’ll come to me in a minute, but I am not tech savvy in the least bit. I’ve got someone that helps me tremendously that helps me with everything, my contracts and everything. They do that, but I still like CoStar. I mean that everyone has access to it. And I think that you find out all information you need to find out on there. So I love CoStar.
Mike: Yeah. Pretty robust system that’s for sure. I thought you were going to say like Instagram or something like that.
Candyce: Oh, no, I don’t. I’ll tell you, it’s interesting. I’ve got a social media person that I am about to hire because I’ve watched, like I said, I watched them a distance to see who’s the best, who I think is the best. But yeah, she’s really good. And I could use that help in that area because I’ve never marketed. I’ve never had a market. I’ve got the groups I’ve gotten and they’ve told their friends and [00:25:00] I’ve never had to market, but I think I would do better if I did. My girls learn residential, my girls and guys and residents, they do market, but I don’t market it. I’m lacking in that area. So thank you for asking me that, reminding me what I need to do.
Mike: Are you going to hire Shantelle?
Candyce: Shantelle was, I looked at Shantelle, I’m looking at her too. Do you have her?
Mike: I don’t. She was in that room tonight on clubhouse that we were on and she’s around a lot. I really liked her a lot. I have an assistant that is doing some things.
Candyce: Yeah, there’s a girl named Heather Cox that Veena uses, I like Veena lot. Whatever van does, follow Veena’s lead, but yeah. I wish you mentioned that this evening, I was thinking to find out. Let’s see what she’s done and how well she’s done it. So yeah. One of them will definitely be helpful to me.
Mike: Good. Good. Hey, do you see any pitfalls in the marketplace today that people need to watch out for?
Candyce: I just think overpaying too much. I know this, you have to pay a lot to get in, but I think we need to pump the brakes a little bit on overpaying. If you’ve got property, you’re already making money. I think just let’s slow [00:26:00] down a little bit. Let’s wait and see what happens especially with the war going on and everything’s happening in the market, we don’t know what’s going to happen. But we’re seeing indicators already changing. I like to run the numbers and run them conservatively and go back to the basics sometimes. So you don’t get caught in the trap.
Mike: Yeah. I’m going to ask a question here that just maybe a little abstract, but as a woman entrepreneur running a business and running life, what’s that like in today’s world?
Candyce: It’s busy. It’s all really busy. I’ve never been one though to let me being a woman get in my way. I have people said to me when I first got in commercial they said, oh, this is a man’s world. That’s okay. I like that, but I’m a different breed. I don’t have a problem with it.
I like it more because I feel like I’m doing something that someone else can’t do. So I appreciate the challenge at it. But in a woman’s world, that man’s woman is changing I think. It’s more acceptable now. And I love that. Like I said before, go back to the same thing, but if you keep that same component of [00:27:00] just knowing who you’re doing business with, okay? You’ll be fine. You’ll be a hundred percent fine. That is to me, I have to say more important than the deal itself.
Candyce: You could have the best deal in the world and you’re with the wrong partner and they could take advantage of the situation. It won’t work out for you.
Mike: Well, and my opinion today is, and I think it’s kinda what you said that people think it’s a man’s world, I think that’s BS, to be honest with you. I don’t believe that because I think some of the hardest-working people in the world are single moms.
Candyce: Thank you.
Mike: Absolutely, and it’s just been proven over and over again. I have a lot of respect for you and for that demographic of women because it’s not an easy job and I get that.
Candyce: Yeah. If you raised children by yourself, then you can do anything, so that’s good. But thank you for that Mike. I appreciate it.
Mike: Oh, you bet. You bet. Hey, so this show is called Insider Secrets, right? And I cater to a lot of brand new investors, newer people, as a new [00:28:00] investor coming in the marketplace today, what advice would you give someone? And you already said to be cautious in the market.
Mike: Not over pay, so we have to go somewhere else.
Candyce: Besides making, I have to say, make sure that you have a great agent. The numbers have to work. It’s the basics, know your numbers. I had a group of people what they did was wonderful. They were just go out separately. There’s a group of them, maybe seven of them and they would go find property. They would analyze the numbers. Then they would come back together. They would compare the notes and they did that over and over. And they discussed why they had different numbers though, as certain times. And then they got so good at it that they could analyze anything. And then we’re always on point.
So I would say if you’re brand new maybe do that. Maybe either have somebody that’s so experienced, so you don’t mess up on the numbers or get with the group and you guys just pick a random property and analyze it separately, come back and it was so good because you had all seven different [00:29:00] minds looking at different things that could happen. What this, what’s wrong here. What’s wrong there. So I love that idea, but yeah just definitely know your numbers and if you don’t have the group, get with someone that has done it and that’s experienced in that field and in that part of real estate, there’s so many different variables in real estate. So make sure that someone’s had, if they’re telling you about multifamily, they better own a lot of multifamily.
Mike: And I like what you’re saying, because I talk about underwriting a lot and I really think that before people get let loose on a tool or some kind of spreadsheet that they really need to underwrite a couple of deals by hand. That’s where I really early on, like I came from the residential side, went in the multi-family side and early on, I underwrote my first two deals by hand because I didn’t know any better.
But it causes you to have to think it through to what if, and I’m the what if guy. What if this happens? What if this happened? But listen, this has been great. I want to change it up a little bit, ask a few fun questions. Get to know you a little bit more. On a lighter [00:30:00] note what’s your favorite tourist attraction?
Candyce: Oh, that’s a great question. Like favorite place to go visit?
Mike: Maybe best place you’ve ever seen. I know you’ve been around a little bit.
Candyce: Yeah, I have to say it’s between Australia and Singapore, one of those two. I think Australia, because it’s such a unique, different place and it’s by itself and it has different animals that we can’t see anywhere else. And just the environment and the people are very fun and jovial.
Mike: Anything specific there or just the country?
Candyce: I’ll tell you what was interesting. If you go to Sydney, you could walk on the Sydney bridge on top of. You actually can come walk on top of it. And that was just fascinating. I never knew that site went there. So I love doing that. Yeah. It was just amazing. I never thought you could do that there. So I was amazed that we were able to do that. So I love that. Yeah.
Mike: How about favorite restaurant?
Candyce: Ooh, favorite restaurant. There’s one [00:31:00] here. I want to say The Optimist. It’s a very nice restaurant. It’s been a very good restaurant, right? And it’s kept its goodness the whole time. It hasn’t lost its flare in all of these years and it’s very high end, but it’s good. And the chef changes up all the time. So I like that one The Optimist in Atlanta.
Mike: Best book you’ve ever read?
Candyce: Oh, goodness. The one by Warren buffet. I can’t remember it. What’s the famous book that he wrote? It’s a Warren Buffett. I can’t remember what it’s called. It’s okay though. I can see the book and it was the one that he said. I’m sorry. He didn’t write it. It’s the one that he recommends. It’s the one that he read. And he said, when I read it, the light bulb went off, no one had written a book, the way that this person had described on how to analyze things. And you can use it with other business practices as well, not just stocks and things that he does. It was looking at the longevity of everything. It’ll come back to me. I’ll let you know what that one is. But yeah, that was a very good rate. Yeah.
Mike: Cool. Candyce, this has been fun. Thank you. Appreciate you. Appreciate [00:32:00] your time. How do people get ahold of you if they want to talk about Atlanta Real Estate or something commercial that you’re doing?
Candyce: Sure. They can call me directly. My number is 404 431 5522. They can reach out to my email at email@example.com Candyce is with a Y. It’s spelled CANDYCE, and then firstname.lastname@example.org.
Mike: Cool. I always thought that was unique. Candyce, thanks. This has been great. Hey everybody, thanks for being here this week. Remember, we’ll be back next week with episode 100. So make sure you listen in, cause you’re in for a big show. Candyce, I’ll talk to you in a minute. Thanks.
Candyce: Thanks Mike. Take care. Bye bye.
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 Core Intentions, wherever you hang out on social media, you will find Mike and My Core Intentions, please and follow us to get the most up-to-date real estate investing [00:33:00] trends.
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