Eric Williams, co-founder and President of EST Equity, leads the evaluation and selection of real estate investments and establishes strategic partnerships. Before EST Equity, he owned a “Two Men and a Truck” franchise and worked at NSI, developing key industry relationships that he now leverages in real estate investing.
Steven Wright, co-founder and CEO of EST Equity, oversees daily operations, focusing on partnership strategies, creative financing, and syndication frameworks. Previously, he was Vice President at Preswerx, where he led teams to secure over $10 billion in project value.
Here’s some of the topics we covered:
- From College Sports to Multifamily Real Estate 00:00
- Closing a Deal with Warriors 3:49
- Discovering the Deal 8:14
- Dividing Responsibilities by Personality 14:57
- The Value of the Warrior Group 17:42
- Building Rapport for Success 20:56
- The Best Part About Starting in Multifamily Real Estate 23:59
If you’d like to apply to the warrior program and do deals with other rockstars in this business: Text crush to 72345 and we’ll be speaking soon.
Full Transcript Below
00:00:33:06 – 00:00:50:19
Rod
Welcome back to Multifamily Rockstars. Now, as you guys know, these are the episodes where we deep dive into our guest deals and just really, really give you practical and actionable items for getting started and doing your first deal, especially if you’re brand new to multifamily. And as always, I’ve got my co-host Mark Nagy with me, Mara on.
00:00:50:19 – 00:00:58:06
Mark
Rad. That’s, that’s another thing I like about today’s guest is another another deal being done in under a year of working with. I’m so excited to get into it.
00:00:58:07 – 00:01:12:04
Rod
So I’ve got a couple of guys on today. I’ve got Steven Wright and Eric Williams. They are partners and best friends and, they’re with equity. And we’re going to kind of do it together, the both of them, at the same time, which is awesome. Hey, guys.
00:01:12:04 – 00:01:13:19
Steven
Welcome. A-Rod right.
00:01:13:20 – 00:01:25:20
Rod
Here. Awesome. Well, why don’t you guys tell a little bit of your story and, you know, kind of why real estate, how you got together, maybe a little bit on your background, and then we’ll dig into that. That deal you guys just got.
00:01:25:20 – 00:01:43:08
Steven
Absolutely. so again, pleasure to be here, rod. a little bit of background on on us. so Eric and myself, we met about 13 years ago in college swimming at Florida Atlantic University. So we were both college athletes, and there was sort of a de one friendship. You know, you’re going to be best friends for life kind of thing.
00:01:43:10 – 00:02:02:04
Steven
And, you know, as, as the years went on, we sort of started to develop, skill sets, which would eventually become very valuable in what we’re doing now. for the last eight years, I was a construction and architecture consultant, developing marketing and business initiatives for some of the largest construction and architecture firms in the country.
00:02:02:09 – 00:02:23:03
Steven
And, you know, ultimately, got to see a lot of really cool things get built, a lot of really cool real estate, new developments occur. And I just in the back of my mind, I personally always had sort of, pulling to get into that industry. and then after hearing about your group last year, you know, I, I talked to Eric about it and, you know, one thing led to another.
00:02:23:03 – 00:02:23:20
Steven
And here we are.
00:02:24:00 – 00:02:26:05
Rod
Love it. So what’s your story, Eric?
00:02:26:07 – 00:02:44:09
Eric
Yeah. So I actually met in 2012 for for Planet University. Took charge in the pool, loved every second of it. And it gave us more character of leadership. But, a little bit down south, I actually ran a two minute truck, franchise. They’re all independently owned and operated and, sold it in a couple years after that.
00:02:44:10 – 00:03:06:23
Eric
Moved back up to the Melbourne area is about 45 minutes from Orlando. I started affiliated with a diagnostic center called Neural Skeleton Imaging, where I promoted MRI, CT, X-ray detection, ultrasounds, the whole nine. But the cool thing about this with the leverage is I affiliate with every referring physician and attorney in the county. So maybe break the ice and get in front of people just to expand my horizon.
00:03:06:23 – 00:03:21:04
Eric
And on top of that, I was a realtor. So that actually gave me more of a boost to dive into your program, where I sold about 9 or 10 homes without even putting a cent into the residential side of for real estate. So it was pretty cool on that. And then Steven introduced it with the syndication and joint ventures.
00:03:21:04 – 00:03:30:10
Eric
Like, I don’t know how this is going to work. And then you, inspired us in that bootcamp of 2023 and September in Orlando. And then now we’re here.
00:03:30:12 – 00:03:35:16
Rod
So here we are. Love it. It was A22 men and a truck. That’s like a moving company that you had right?
00:03:35:16 – 00:03:43:04
Eric
Yeah. They’re independently owned and operated throughout the nation. So even some in and out of the country. So it’s pretty similar on that. So if you have any move cool.
00:03:43:04 – 00:03:59:16
Rod
Cool cool cool. Okay, so I know you guys just closed on a deal, in San Angelo. Oh, wow. That’s interesting. It’s in San Angelo. We’re actually looking at a deal in San Angelo right now ourselves. That’s really funny. Okay, well, tell us, tell us about that deal. Where do you guys live, by the way?
00:03:59:16 – 00:04:09:00
Steven
So I’m in Orlando. and Eric is in Melbourne, pretty close to Cape Canaveral. So we’re both central Florida, and, and I don’t see that changing anytime soon.
00:04:09:02 – 00:04:20:12
Rod
Right? No, we love it here, don’t we? Yeah. By the way, so you guys were swimmers. Is that what you said? Yep. No kidding. I was on a team for ten years. It says I can’t do very many things well, but that is one of them, so that’s interesting. All right.
00:04:20:14 – 00:04:21:19
Eric
Which thing was that?
00:04:21:21 – 00:04:34:23
Rod
Oh, no. This is junior high school. High school and that’s it. Yeah, actually I exaggerated it wasn’t it. Yeah. No, because I started even before junior high school. Yeah. Because it was. It was ten years. Yeah. It was a lonely sport though. It is a lonely sport.
00:04:34:23 – 00:04:45:02
Steven
Well yeah. That poor it has the, it has the appearance of being a team sport. But when you’re, when your head’s underwater you’re not talking to anybody. It’s, you know, just a joke. Your, your sort of mental fortitude okay.
00:04:45:02 – 00:04:51:23
Rod
So so so so tell us about that first deal. I know it’s in I know it’s in San Angelo where we’re actually looking at a deal. So tell us about it.
00:04:51:24 – 00:05:17:09
Steven
Yeah. So San Angelo is a really fantastic market. after joining the warrior Group, you know, Eric and I started building relationships with other warriors, and one thing led to another. We were eventually brought on to a team, who ended up taking down the deal at the San Angelo property, in order to help raise about 750,000 of additional capital expenditure budget and to, sort of overtake the investor relations.
00:05:17:09 – 00:05:33:12
Steven
So we’re, speaking to investors on the phone. We’re sending out the monthly webinar, updates, the newsletters, all that kind of stuff. So we’re very engaged with the investors. and, you know, it was just, it was a really, really wonderful opportunity for us to kind of come in, learn the ropes, and, and just be a part of this amazing deal.
00:05:33:12 – 00:05:42:18
Rod
So this was a team that’s done some deals before they. You join them. You like them? You. Yeah. These are warriors you connected with. And, Well, tell us about the deal itself.
00:05:42:18 – 00:06:04:07
Eric
So, Yeah. So we started full time with ESG equity in March, so I had to do a strong networking with all the Warriors. I came across one fellow warrior named Charles Xu, and we hit it off perfectly for like, that 30 minute intro. So he actually gave me the knowledge of San Angelo quite a bit more. And then when I met a few other warriors, they were on the project project also.
00:06:04:09 – 00:06:25:17
Eric
And I actually gave them information. They came, it broke the ice where they wanted to help us partake with this property. And it was a stellar one, like Steven was saying was a 3.4 zoomable loan. We had a great idea with the actual strategy when it came to ASU. Angelo State University and, the Goodfellow Air Force Base and then the Shannon Hill.
00:06:25:17 – 00:06:45:13
Eric
So we just we love this idea so far. And it was a smaller project for us in the beginning, and we just wanted to get all our ducks in a row, get our feet wet, just to understand the process of the algorithm, how to go through this whole process of this property. And then after that, then we actually got a good understanding because they gave us the helping hand it.
00:06:45:13 – 00:06:53:08
Eric
And other than that, we’re onto bigger ones. But, in the beginning, this was a solid one for us. In the beginning, just a comfortability level. And it was great. Nice.
00:06:53:10 – 00:07:02:00
Rod
It was great. You said that. You said you gave the team some information. Did you do some research and give it to them? Is that what you did or tell me about that initially?
00:07:02:02 – 00:07:25:11
Steven
you know, when we looked into San Angelo, you know, the team had done a fantastic job. Charles, Alec Jordan. Patrick, the team had done a great job at, analyzing the market and understanding what it was going to take to, you know, ultimately, you know, take down this deal. What Eric and I did was we looked into, potential alternative exit strategies.
00:07:25:11 – 00:07:45:14
Steven
So a thing about this property, it’s very close to, as Eric mentioned, a military base, like an Air force base, a bunch of different hospitals and, Angelo State University right next to, to the property itself. And so what Eric and I did was we looked into some potential exit strategies for, those entities potentially purchasing this property.
00:07:45:14 – 00:08:03:06
Steven
When we get to the end of the the time frame. all this things to help the conversation move down the field. But like I said, ultimately, the team did a fantastic job of analyzing and underwriting very conservatively, which made it very easy for us to sell to our investors, who ended up funding that $750,000 of capital expenditures.
00:08:03:06 – 00:08:17:22
Mark
So what’s kind of the strategy on this deal? That is it just a typical value add? You know, Mark, under under market rents, is it, you know, an old seller that wanted to get rid of it? How did this deal even I know you guys found it from other warriors, but how did they end up getting this deal?
00:08:17:22 – 00:08:20:13
Mark
And why was it a good deal at the at the end of the day?
00:08:20:13 – 00:08:51:09
Steven
Yeah, absolutely. So this one is a pretty traditional value add, essentially distressed seller. The previous owner bought it at the beginning of Covid like literally right before Covid began. Unfortunately, due to a property manager that, was underperforming and an owner that quite frankly, was in over his head. the relationship that Alec, one of our, had built, you know, with the broker in the area had ultimately ended up lining us up to, to jump in to where this, this previous owner had had failed.
00:08:51:12 – 00:09:15:06
Steven
So it’s a 52 unit property. essentially two thirds of the units were left to renovate. So one third had been upgraded. And for us it was or rather for our GP team. the goal was to get in, renovate as many units as possible, as quickly as possible, and bring their rents up to market rate. We were about 15% below market rate and the market itself, was growing.
00:09:15:06 – 00:09:32:10
Steven
Amazon is putting a new distribution facility there and there’s a lot of other, you know, new initiatives that are happening in San Angelo. So while it may seem kind of out in the middle of nowhere, there’s a lot going on. And we really wanted to, you know, prime ourselves to, to profit and bring our investors back to capital that they deserve.
00:09:32:16 – 00:09:43:23
Rod
Yeah. You know, it’s funny, you, you, it’s just funny that that’s a town that literally, I’m looking at right now. So I know it’s a it’s a screaming area. So definitely a great find for you guys.
00:09:44:00 – 00:10:02:09
Mark
I heard something interesting. You mentioned the the guy bought it before Covid, so he’s only owned it for a few years, which usually with distress. It’s people that have owned it for, you know, a decade plus. They’re getting out of the business, whatever. What was the distress that was that was hitting this owner that made him want to get rid of it so, so quickly?
00:10:02:10 – 00:10:39:13
Steven
Well, so when the previous owner took over it, was it about 92% occupancy, kind of fluctuating between 90 and 95%. what the the new owner came in and, hired a new property manager that he didn’t have experience with. And ultimately, I think because of Covid and his, and the owners of, inability to be at the property and understand the sort of local market conditions and the things that were important, you know, to the, to the tenants and, and the surrounding community, that that number dropped from 92% occupancy all the way down to 61%.
00:10:39:18 – 00:10:40:06
Steven
And so.
00:10:40:06 – 00:10:41:08
Rod
Wow, wow.
00:10:41:10 – 00:10:59:21
Steven
That for you, period. And so, when we took it over, it was at 61%. We just got our new reports this month or excuse me, this morning of our, of our, you know, sort of upgrade over the last two months. We are currently at 77% occupied. So we’re we’re getting back up there and, you know, executing our business plan.
00:10:59:23 – 00:11:02:24
Steven
and San Angelo is a market that that is, as worthy of that.
00:11:03:00 – 00:11:04:20
Rod
Yeah. For sure. How long have you owned it?
00:11:04:24 – 00:11:06:06
Steven
April 18th was our closing.
00:11:06:06 – 00:11:29:12
Rod
Oh, wow. Dude, I was absolutely kicking ass. So this is a 52 unit, 1965 build. you got that fantastic interest rate. So the plan is to hold it for 5 to 7 years. and talk about, the team. Is there anybody that’s, boots on the ground there or. You all take taking turns checking it out?
00:11:29:12 – 00:11:31:21
Rod
How are you managing the asset management component?
00:11:31:23 – 00:11:53:03
Steven
Basically, our team is broken into three teams of two Alec and Charles, who make up the first team, and then Jordan and Patrick Vogel, who are both warriors, make up the second team. Jordan and Patrick co-own a commercial or, excuse me, a residential construction company. So they do renovations in the area quite a bit. They are boots on the ground.
00:11:53:03 – 00:12:10:20
Steven
They’re going out to the property, you know, once a week, once every other week. And speaking with the property managers, on a very, very regular basis. Alex lives in Austin, Texas, and Charles lives in San Francisco. So they were involved in the initial underwriting and sort of the, you know, preliminary preparation phase of the deal.
00:12:10:20 – 00:12:28:10
Steven
And, you know, have obviously been on all the calls since then. And then, you know, Eric and I like I mentioned, work on the investor relations side and the capital generation. And so, there’s very much a boots on the ground presence. Quite frankly, Eric and I would not invest in a deal on a team that didn’t have some boots on the ground presence.
00:12:28:12 – 00:12:28:23
Rod
Yeah, well.
00:12:28:23 – 00:12:47:12
Mark
Especially with you, said the previous owner, the reason why they screwed it up is because he wasn’t present. And, you know, didn’t didn’t understand that market. So I think that’s a really important aspect, especially if you’re raising funds for that sort of deal. Now, you brought up a really great point there that everybody kind of has their own role that they play.
00:12:47:12 – 00:13:10:20
Mark
Right. Rob talks about this being a team sport that’s super important. how did you guys figure that out for yourselves? Did you kind of have an idea that that was something, you know, in terms of capital raising, investor relations, that’s something you wanted to do? Or was it really just you went out and built relationships and the opportunity presented itself and, and you just, you know, walk through the door of that opportunity.
00:13:10:23 – 00:13:11:17
Mark
How did that happen?
00:13:11:21 – 00:13:33:09
Eric
So on the investor side, Steven does presentations and commercial side, and I do more of the residential and the medical side. So these four legs make a perfect year where we could have avenues for many investors. I know you guys heard about that Oakley deal in Charleston, South Carolina. We’re not gtis. We’re not LP’s. We had no skin in the game, nothing at the moment.
00:13:33:09 – 00:13:52:20
Eric
But I did show that webinar with Mark McGuire knocking it out of the park and the wells. I showed it to a couple radiologists and they jumped in right away. So I’m like, wow, we actually have an influence on these doctors and attorneys. I mean, they know how to save money by, well, they know how to save lives or bring justice, but do they know how to make their money?
00:13:53:00 – 00:14:04:16
Eric
You, make more money. So where I’m getting that is it was a universal language for us, but, it just made us more comfortable that we have this big influence on all these doctors, attorneys and others.
00:14:04:18 – 00:14:25:11
Rod
You stole my freaking thunder. Because I was going to ask you how you guys raised the money. And I knew it was those relationships you built in the MRI business and all that stuff. Because that’s kind of a no brainer. I mean, talk about, a foot in the right door, you know, because I mean, people, people kill themselves to get in with the medical community and maybe present to doctors and present, you know, to that, to that demographic.
00:14:25:11 – 00:14:42:10
Rod
So the fact that you were already there is I mean, that was a no brainer. And guys, you have to you know, those are you listening? You got to think about your network and your skill sets and the things that that might translate to something here in this business. Maybe you’ve got, you know, some construction experience and some project management experience or management experience.
00:14:42:10 – 00:15:00:00
Rod
You could handle the tail in. Maybe you’ve got, you know, great sales ability and you could handle and work in the investor relations piece or, you know, analytical. You can help with the underwriting. There’s so many hats you can wear, but, so how do you to divide up your roles have you have, you know, you’re fairly new in this business.
00:15:00:00 – 00:15:12:24
Rod
So maybe that hasn’t evolved yet. Sometimes that’s an evolution. But I’m just curious if if you’re starting to see any, you know, any, complementing skill sets as it relates to the multifamily business yet.
00:15:12:24 – 00:15:33:19
Steven
Yeah, absolutely. Great question. Rod. So, initially, you know, one of the things that I heard at your, event in Orlando was, you needed find, you know, partners who complement your skill set. And then every relationship is just like a marriage, you know? So if you’re going to if you’re going to partner with someone, you really need to think about it long term.
00:15:33:21 – 00:16:03:16
Steven
And so I was actively thinking about that concept, as I was recruiting for, you know, someone to be my partner. And quite frankly, Eric fills in the gaps that I am week at myself. Eric’s apparent, you know, charismatic, fantastic communicator, loves going and being in person. He’s quite literally the extrovert personified. I’m totally the opposite. I realized that, you know, communication and speaking is sort of a necessary evil, but it’s really not what I like to do.
00:16:03:16 – 00:16:13:02
Steven
I like establishing the business systems, developing marketing strategies, and sort of like being behind the scenes. And so I think that’s really where we work so well together.
00:16:13:02 – 00:16:33:13
Rod
I am shocked, frankly, because I actually thought it was the exact opposite. I actually totally I totally thought it was the exact opposite. So that’s very interesting because you’re a hell of a communicator. So I actually thought it was the opposite. you know, but that’s interesting. Well, awesome. So so, so you’re the you’re more on the analytical, the detail person.
00:16:33:15 – 00:16:43:10
Rod
Yeah. I’m actually flabbergasted because I actually thought it was the opposite. So so talk about so this is the first deal. And when did you join the warrior program?
00:16:43:10 – 00:16:47:10
Steven
September. It was actually a week before the Arizona Warrior event.
00:16:47:14 – 00:16:49:15
Rod
Okay. Did you go to Arizona?
00:16:49:17 – 00:16:50:11
Steven
Oh, we did.
00:16:50:13 – 00:17:06:09
Rod
We did. Oh, yeah. So you met it. You met a ton of warriors there. okay. Fantastic. Yeah. We’ve got another one of those coming up in Sarasota in September. Guys, if you don’t know, we do these, these events just for the Warriors so they can connect. Because we discovered three and a half, four years ago.
00:17:06:12 – 00:17:22:16
Rod
Our most successful warriors by far, are the ones that are the most connected in our warrior community. And so we do these events. We do other things as well. We do, you know, speed dating where you can randomly meet warriors. We send you the warriors that live in your state just to try to connect, to facilitate these connections, because they’re so critical for success.
00:17:22:20 – 00:17:40:13
Rod
By the way, if you’re interested in the warrior program and you want to apply text the word crush to seven two, three, four five so we can help you crush it in this business, our warriors are well over 200,000 units at this point. we can’t even keep track anymore. Honestly, and, how are you? Good. How have you guys like the program?
00:17:40:13 – 00:17:42:01
Rod
Give us a little shout out if you would.
00:17:42:01 – 00:17:58:12
Eric
So, actually, we were inspired in that Phenix trip. We actually had a three year plan going over there and leaving our w-2s. And then when we got back from Phenix and mid-November, I actually, it’s there’s such thing I put my three month notice in. So it’s full time with that diagnostics. And now we’re the part time or nothing at all actually.
00:17:58:12 – 00:18:23:06
Eric
And we’re full, full send right now at the Real Estate Warriors. So we are so inspired with you guys. I think one of the biggest assets is that Facebook that you created. I reach out every day to at least 20 to 30. I get a couple of replies, use a county like and literally have those intros. I think those are the most pure, like it’s the best asset in the world because then you can fill in the gaps the weeks, the week, sorry, the weakness in the strengths.
00:18:23:08 – 00:18:35:19
Eric
And you fill it in and you actually bring stuff to the table and you actually have these teams that are forming and you can expedite the process. And it’s it’s it’s it’s incredible. So, yeah, it is one of the best powers for sure.
00:18:35:20 – 00:18:51:20
Steven
I couldn’t agree more. And quite frankly, the first deal that we went through would not be possible without the warrior group. The second one wouldn’t have been either. And so I think the goal that you were, you know, a tribe trying to achieve because you talk about it, every one of the groups has has really been realized with our experience.
00:18:51:20 – 00:19:06:17
Steven
And, you know, there are there are a ton of groups that you could join, you know, the competitive groups that would scam you and take your money and, and, and set wrong expectations. But to anyone listening who is on the fence about joining the warrior group, freaking do it. It’s going to be the best decision you’ve ever made.
00:19:06:18 – 00:19:08:13
Steven
It already has been for Eric and I.
00:19:08:15 – 00:19:37:23
Mark
One thing as well that that Eric you mentioned earlier is that, you know, you sent investors to another Warriors deal without, you know, GPS, any piece of it. And we find that those are our most successful warriors, right. The ones that just give without any expectation of return. And obviously it worked out for you guys. But if we could get even a little bit more granular for the people listening that are maybe more introverted or not so good at those things, what exactly was your system for building those quote unquote relationships?
00:19:37:23 – 00:19:45:17
Mark
Did you just Facebook message and say, hey, Eric, let’s set up a call or what? What exactly did that process look like to build those relationships?
00:19:45:17 – 00:20:02:11
Eric
So when I knew we were going three months into it for a three month notice and I was like, I got to know everyone, Stephen inspired me. Was like, attack this Facebook because I’m terrible with cameras sometimes. If you could tell a little bit and the Facebook, I barely go on it. I should flaunt with my wife and her beautiful photos more.
00:20:02:11 – 00:20:19:20
Eric
But I can’t as much. For some reason I just can’t. But where I got into this is I reached out, hey, brand new Warrior, and I tried to find out how close a relationship. Hey, you’re a few months. we joined a few months apart. Let’s pick each other’s brains. Let’s collaborate a little bit more. And a lot got back to me.
00:20:19:20 – 00:20:33:24
Eric
And then I just kept going down further down the group. And then I just reached out. Hey, you’ve been in the group for two years. I love to hear more of your experiences. Help me pick out a little bit more. And then, once they hit those counties, I think those 30 minute intros are the most important thing.
00:20:34:04 – 00:20:37:23
Eric
Like I said, you bring everything to the table and you fill in the gaps. You really do. Yeah.
00:20:37:23 – 00:20:54:04
Rod
I mean, what you just described was building rapport. I mean, you used your length of time in the warrior group to build rapport. And, you know, whenever you’re starting a new relationship, it starts with rapport. You know, guys do it by talking about, you know, how about those Broncos? You know, women do it. Oh I love that top or the, you know, the blouse or whatever.
00:20:54:04 – 00:21:02:10
Rod
And but you build rapport and then you find commonality is how you build that rapport. And so what’s the goal for you guys? Tell me the goal.
00:21:02:10 – 00:21:18:12
Steven
Yeah, that’s a great question, rod. When Eric and I came together and started this company, I think we that one of the first things that we needed to do was, you know, agree upon what the next 2 to 5 to 10 to 25 years looks like. And and for us, it’s very much financial freedom and being in control of our destiny.
00:21:18:12 – 00:21:45:07
Steven
You know, the way that we perceive commercial real estate. Again, having you as sort of our, you know, sort of North Star, if you will. is this is a this is a business that will give you as much back as you put into it. There’s going to be downturns, there’s going to be upturns, you know, and as long as you’re consistent with it, this is a way for you to really take control of your life, your happiness, your finances, and get anything you want while also helping other people live better.
00:21:45:12 – 00:21:56:13
Steven
It’s a total no brainer for me. I know it is for Eric too, but that’s the that’s the end goal for us is to to, you know, continue to develop financial freedom through commercial real estate investing.
00:21:56:13 – 00:22:13:17
Mark
So tell us about this next one that I know, you guys. This this business is very often rods has this all the time. It has a snowball effect. Right. Once you get your first one, you build confidence, you build credibility, then, you know, the second, third, fourth, fifth come. Obviously right now you guys are under contract, for a self-storage.
00:22:13:17 – 00:22:23:16
Mark
You can tell us a little bit about this. Now, did this deal come from the same partners on the first deal? Is it different partners? How did this second one come about so quickly after the first one?
00:22:23:19 – 00:22:47:01
Steven
You know, I think two things were at play. so one, Eric continued his sort of, you know, rapid marketing approach to, get as many warriors, you know, in our contact book as possible. And that alignment, with Ed Model, who’s the key partner on this, property? the self storage facility happened, right? just days after we closed on our Texas property.
00:22:47:04 – 00:23:05:14
Steven
And so we had just come off saying, you know, we successfully raised the 750 that we needed. and, you know, now we’re we’re on to the next level, whatever that may be. When Ed and, Andrea and Michael, three of the main GP’s on this other who are also warriors, came to us and explain this, this property, I mean, we live close by.
00:23:05:16 – 00:23:23:08
Steven
The numbers are incredible. We’ve always wanted to get into a self storage facility. So for us there was really no, reason to not do it, especially with the team as strong as the one that we have here. You know, we see Ed speak at every warrior event, and, and, you know, we’ve been friends with Michael for a long time, so it was really just the perfect opportunity.
00:23:23:09 – 00:23:23:22
Steven
Nice.
00:23:23:22 – 00:23:25:07
Rod
Where’s it at?
00:23:25:09 – 00:23:26:23
Steven
It’s Vero Beach, Florida.
00:23:27:00 – 00:23:36:03
Rod
No, it’s in Vero Beach. Okay. Right down the road. Okay. Are you okay with listeners reaching out to you guys if they’ve got any questions and if so, you know, where and how can they do that.
00:23:36:03 – 00:23:46:17
Steven
Absolutely, absolutely. So, you know, we got the best matchmaker in the business sitting next to me. it’s Eric W at ESG equity.com. And Steven W at ESG equity.com.
00:23:46:17 – 00:23:58:18
Rod
Perfect perfect. So guys what what have you enjoyed the most about this this this I mean, you’re just really getting rolling. But but what are you enjoying the most about this new journey, this new endeavor you’re both.
00:23:58:18 – 00:24:21:17
Eric
On meeting everyone, meeting the new networking, just learning every day. And it’s awesome. I understand real estate even more, and I just can’t wait for the future on this. And this just, it’s it’s a it’s our new passion. That’s basically. Yeah. And then, another learning. So, learning block is literally just stay in your lane and, you can’t do this on your own.
00:24:21:19 – 00:24:28:24
Eric
You really can’t. So divide and conquer, and then you stick with your strengths and and you, like I said, I sound like a broken record. Bring that to the table.
00:24:29:01 – 00:24:54:06
Steven
Yeah, I would agree with that last part. That was actually mine. I was going to say that, you know, this this is very much a team sport. And I think for any new, any person who’s considering getting into real estate, may feel overwhelmed at all the different, verticals which exist on any team. But the reality is you as, as a solo player, really only need to master one of those verticals, and then you find people who are masters of the other verticals and make a dream team.
00:24:54:10 – 00:25:07:11
Steven
And so that’s really kind of what, you know, Eric and I are focusing on the capital generation for this first year. Maybe next year will be something different. But, you know, make it less than overwhelming by finding one thing to get really good at and then go find other people who need you.
00:25:07:14 – 00:25:13:23
Rod
Love it, love it. Are there any roadblocks that you guys encountered that you could share with the listeners that they might want to watch out for?
00:25:14:01 – 00:25:40:05
Steven
I’d say that the roadblock that has come up, the I mean, there hasn’t been a whole lot of time, but the roadblocks that I would say is, in moments of, uncertainty, you know, like in the capital generation part for us, there were sometimes days where we would reach out to potential investors and either not hear back from them or, you’d have some sort of indecisive answer or say, hey, you know, call me on Friday.
00:25:40:07 – 00:26:02:00
Steven
So those moments of sort of uncertainty, I think the important thing to do is to not get overwhelmed or not, not let that bring you down, because there’s always ways to educate yourself every moment. Learning about this craft is going to be more valuable, whether it’s analyzing deals, looking at, you know, other warriors or other real estate investors who may be doing similar things.
00:26:02:02 – 00:26:18:18
Steven
educating yourself is not a value as, use of time, especially when you, you know, what you’re wanting isn’t exactly happening, because I promise you that the investors who you’re pitching to, if you’re doing a good job pitching, they will come back to you. it is you. You don’t know what’s going on in their own life.
00:26:18:18 – 00:26:25:04
Steven
So don’t don’t stress over it. Just educate yourself. Do the right things, and then, you know your investors will come back to you.
00:26:25:06 – 00:26:30:04
Rod
So did you guys happen to get something in the mail from us when you got your first deal?
00:26:30:06 – 00:26:34:18
Steven
Absolutely, yes we did. I think that I was most excited about I was like, yeah, we got to close the deal quick.
00:26:34:19 – 00:26:52:16
Rod
Yeah. So check out this sword, guys. You can’t probably see it. It’s a real frickin sword. Metal sword that you get when you do your first deal as a warrior. Says warrior on it. And, it’s pretty freaking cool. Anyway, guys, it’s a pleasure to see you. And, really glad to have you on board with us. And thanks for sharing this deal.
00:26:52:16 – 00:26:58:20
Rod
And, you know, I want to see you back here in a year with, a few hundred more under your belt. Okay.
00:26:58:22 – 00:27:00:05
Steven
We’ll be there from us.
00:27:00:05 – 00:27:01:01
Eric
All right. Thank you. See you guys.
00:27:01:01 – 00:27:04:01
Rod
Right. Nice work. Guys. Great job.
