Laurent Meyer, with over 20 years of real estate development experience in France, has a proven track record of entrepreneurial success. At 23, he founded and franchised “Flashcopie” and “Global Reprographic Services,” growing it to seven centers and over €10 million in revenue before selling it in 2006. Concurrently, he established the real estate firm SCI DYLAN, acquiring and renovating properties, including a notable 20,000 sqft space in Marseilles. In 2005, Meyer founded DYNADEL, LLC in Miami, innovating a GPS rental business. He re-entered real estate in 2008, focusing on foreclosures and value-add properties. From 2015 to 2018, he developed office buildings and large multifamily properties. Laurent is married to Delphine and has three sons.
Here’s some of the topics we covered:
- From Startups to Real Estate 00:00
- Office Building Development 4:34
- Transforming Properties for Investment 12:17
- Renovating for Studio Apartments 13:36
- Inside a Multifamily Real Estate Deal 15:38
- In-Depth Analysis of Hotel Conversions 19:52
- Essential Tips for First-Time Investors 24:33
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
00:03:21:15 – 00:03:39:13
Rod
Welcome back to Multifamily Rockstars. So as you guys know, this is where we deep dive into our guests deals. And we’ve got a really cool one today. Just so you know, it’s not one we’ve ever talked about on the show. And we give you some practical and actionable items to help you get started and really help you get started doing your first deal.
00:03:39:13 – 00:03:45:24
Rod
We talk about that, especially if you’re brand new to multifamily. And as usual, I’ve got my co-host, Mark Nagy with me.
00:03:46:01 – 00:03:48:08
Mark
Good to be here and happy to be here.
00:03:48:10 – 00:04:09:00
Rod
Well, we’ve got an awesome guest for you guys today. and you will be easily guess where he’s from once he starts talking. his name is Laurent Meyer, and, and he’s got a he’s got the shiny penny syndrome, entrepreneur bug like I have, because he’s done all sorts of things. So I’m really excited to hear about his background or let you guys hear about it.
00:04:09:02 – 00:04:25:21
Rod
But his deal that he did is very unique. and becoming a little more prevalent. but, really looking forward to digging into the deal. What it is, is it’s, hotel to multifamily conversion. So that’s really, really excited to dig into that. Welcome to the show, buddy.
00:04:25:23 – 00:04:27:07
Laurent
Thank you so much. Thank you so much.
00:04:27:09 – 00:04:34:11
Rod
Yeah. sure. So why don’t you take a few minutes and just give us a little background on who you are and where you came from?
00:04:34:16 – 00:05:01:16
Laurent
So my name is Lawrence Meyer. I am fronts, and. Yeah. And you can organize with my accent. I, I’m sure even if I moved in 2007, 2008 in Florida and, I have a great experience in business and in real estate in Europe and in America. So for the last 15 years, I used to invest in real estate and, change from one asset to different asset screwed by slowly.
00:05:01:18 – 00:05:08:22
Laurent
But I have been always in real estate and I have always been involved in different type of businesses.
00:05:08:22 – 00:05:20:18
Rod
Well, you got to give us a little more detail than that, okay? Because I saw all kinds of cool stuff here that you’ve done. So talk, talk a little bit about your. Well, I know you’ve, you’ve also done real estate development as well. Yes in France.
00:05:20:18 – 00:05:26:09
Laurent
So absolutely. Yeah. Estate development. And it was mainly shopping center and office.
00:05:26:13 – 00:05:44:04
Rod
Okay. And you moved you moved here. You moved here in the, in the depths of the crash. Oh seven and oh eight man. That’s right. 008 is when it hit. perfect to perfect timing to, to get into real estate here because you didn’t you didn’t get your butt kicked like I did. So you weren’t, like, beat up and hiding under a rock like I was.
00:05:44:09 – 00:05:50:20
Rod
but but you did some other businesses. I just think it’s fascinating. So just, briefly highlight the businesses that you’ve done.
00:05:50:22 – 00:06:21:12
Laurent
So one of the businesses that they, opened in 2007, 2008 was a rental. Dubious. So rental. But the first provider system for the rental giving them a weekend. And that was the first one to open in, different location. We opened the 54 different location, and they used to, collaborate with a different, national brand like enterprise Alamo.
00:06:21:14 – 00:06:28:16
Laurent
it is, and they used to partner with them to be the provider segment provider about GPS system.
00:06:28:18 – 00:06:39:06
Rod
So okay. So pre pre telephones pre pre cell phone GPS Google Google Maps kind of screwed that up. But you were renting GPS is to car rental companies to put in their cars. Wow.
00:06:39:07 – 00:06:46:08
Laurent
Fantastic idea. Absolutely. And it was a win win win for everyone. Because at this time the G.P.S. was not developed in America.
00:06:46:10 – 00:06:46:18
Rod
Right.
00:06:46:18 – 00:07:11:22
Laurent
And it was a big challenge, but it was at the end the great opportunities, for not release zoom and the consumer, but also for myself, because that was just a new in America. So it was a great opportunity, also to be able to understand the different, the vibe about the different states. So. Oh, let’s go to really very important.
00:07:11:24 – 00:07:16:05
Laurent
so I was able to travel most of the time almost everywhere.
00:07:16:07 – 00:07:33:06
Rod
Oh, nice, nice, nice. Now I know that you have, also developed office buildings. you’ve developed some other sorts of things as well. Industrial property, large multifamily, was that and that was in the states, though, correct?
00:07:33:08 – 00:07:59:05
Laurent
Absolutely. It was in Florida in two, as you probably know. I still have to invest in real estate in 2009, 2010. And at the beginning, I used to get property and different type of assets only in Hollywood, North Miami, Hollywood, and it was very close to my office, very close to me. And I used to do and, and, but was sitting by myself.
00:07:59:07 – 00:08:23:10
Laurent
So at this time I didn’t know anything about syndication. And you don’t know anything about multifamily? you don’t have any knowledge about the concept about syndication. so it took me a lot of time to, appreciate and to understand what’s important, to understand the value about syndication and syndication into my life. In 2015.
00:08:23:12 – 00:08:32:04
Rod
And so. Okay, so you started in syndication 2015 with your depth of experience. Why did you join the warrior program? I’m just curious.
00:08:32:06 – 00:08:56:16
Laurent
mainly because I love to connect. I think that’s the one of the main, qualities that people need to get in syndication is the fact to connect. And they think that it’s very important to be very humble and to be always very open to discuss with you feeling type of people and to have different view about the it’s of different aspects.
00:08:56:17 – 00:09:23:15
Laurent
I think that not everyone can defect. You never think. And the demand you see multifamily and syndication make a positive. Everyone can bring value and you love this concept. I think that’s the main concept about syndication is to bring the best in one item in one field. If everyone can bring something like the next bit in one field, it can be a win win win for everyone.
00:09:23:16 – 00:09:43:03
Rod
Yeah. And this you know, guys, you’ve heard me say this on the podcast numerous times. There’s lots of different hats that you can wear in this business. And you know, if everybody’s playing to their strengths and what they love it. First of all they love what they’re doing. Number one work is play. And they never work another day in their life because they’re doing what they’re loving and they’re strong in it.
00:09:43:07 – 00:09:50:17
Rod
But you bring people that are strong together like that and success is just a foregone conclusion. So that’s what you’re talking about here, right?
00:09:50:17 – 00:09:53:13
Laurent
Lauren? Yes. Absolutely. Yeah. Absolutely. Yeah.
00:09:53:15 – 00:10:01:12
Mark
So what have been some of those hats that you’ve worn throughout the years and getting into Syndications. What is what has really been your skill set and your things that you’ve brought to these deals?
00:10:01:18 – 00:10:25:19
Laurent
So I think that, there’s a main quality that I have most of the time for business of multifamily. but multifamily is also business at the end, I can see the value about an asset in the future. Yeah. And I think that this is probably one of the great qualities that I have when I see an asset, I don’t see an asset.
00:10:25:22 – 00:10:34:12
Laurent
Now I am able to see an asset when the CapEx and the, the value, will be in place.
00:10:34:14 – 00:10:49:22
Rod
You can see what it’s going to look like. Yeah. That’s a that’s the toughest thing for me. I, I can’t I’m terrible at it. So that is an incredible quality where you can see what it’s going to look like when it’s done. I don’t have that ability. So I’m jealous. So good for you. Yeah. That’s awesome.
00:10:49:24 – 00:11:14:00
Laurent
It’s a great, it’s a great time. In fact, when I see, someone, when someone see a problem, most of the time I can see an opportunity. I have a vision about the future of the deal, and, I never, never. And this. It’s my second quality. I never give it good. Never. Whatever number I it’s really important to be focus.
00:11:14:00 – 00:11:44:04
Laurent
Focus with a clear vision, with a clear goal. and by the way, for me, the goal is based on two aspect timing and amount is a goal is not clearly defined. It’s not the goal. Yeah. Great. I want you to have a clear goal to be focused and and, and in fact, when we get to property, with different issue, we know in advance that it will be with up and down.
00:11:44:06 – 00:11:53:04
Laurent
And if it’s with up and down, we know that it will be a lot of challenge. So this is part of the deal. It’s part of the business. It’s part of the journey.
00:11:53:06 – 00:12:13:12
Rod
Yeah yeah. By the way guys, you know when you’re doing your goals which you must do they’ve got they’ve got to be clear and measurable. Otherwise they’re not goals. You know like I’m going to lose some weight. No I’m going to lose ten frickin pounds by January 18th and feel great about it. That’s a goal. Okay. as an example of clear and measurable and clearly defined.
00:12:13:14 – 00:12:33:10
Rod
so let me ask you this. You know, I have lots of different listeners on the show, different avatars, as it were, different personality types, different types of people. Who do you think you relate to the most in that regard as it relates to my listeners? What what sort of type of person?
00:12:33:12 – 00:13:01:01
Laurent
I think that the people that can be into, most of them YouTube, you know, so that so that they could do everything by themselves. One word percent. and probably that they realize, know that multifamily is one of the keys to creative financial freedom. And, this investor was to understand that being part of a team is very, very powerful.
00:13:01:01 – 00:13:06:02
Laurent
So it would be this type of, of, of listener. Yes.
00:13:06:07 – 00:13:08:06
Rod
Yeah. Okay. Okay.
00:13:08:08 – 00:13:28:20
Mark
So bring us into your first deal. You’ve got a really interesting one here as a warrior, hotel to multifamily conversion. Like rod said, I don’t think we’ve ever, ever talked about that. tell us about how you found this. And. And what does that even look like? Converting a hotel into multifamily. Why? Was that something you guys even went after?
00:13:28:22 – 00:13:30:21
Rod
Yeah. And where is it as well, please.
00:13:30:23 – 00:13:40:00
Laurent
Yes. So it’s, this asset is, located in Sanford, Florida, in Park County, in liquids.
00:13:40:02 – 00:13:41:23
Rod
So Lake Wales.
00:13:42:00 – 00:14:21:03
Laurent
Is actually in the middle in Florida. So a question about, hospitality to multifamily is probably the most the challenge business in real estate. why? Because if we think we be based on the profit one, everything will be based on the value one, and it will be a lot of requirements based on the legal part. For example, the Knesset hospitality that need to be moved in multifamily.
00:14:21:05 – 00:14:56:08
Laurent
we have to change the zoning and we have to change the use. So these we require a whole lot of, Wolf could before any rental. And these can take sometimes because everything will depend about the city, the building department and the county. But like every business, because it’s a new business, it’s probably one of the best to we like to create not only, good cashflow, but excellent, excellent equity.
00:14:56:10 – 00:15:10:14
Rod
Yeah. Yeah. So so let’s let’s get a little bit micro here and so when you found this property, it was this a situation where you had to change your use or did it already have a higher commercial zoning on it?
00:15:10:16 – 00:15:35:18
Laurent
Yes. So zoning it was not change. It was a motel. It was a motel. In fact, I was able to find this property market. and there was a bill to do, like he was owner I gives him, I give them the full price. But I asked them, only one condition before the closing, and the only condition was to be able.
00:15:35:18 – 00:15:42:09
Laurent
I was able to, request the change of zoning. Yeah. So when the request requested.
00:15:42:09 – 00:15:44:14
Rod
Requested or get it.
00:15:44:16 – 00:15:45:14
Laurent
Get it.
00:15:45:16 – 00:15:46:10
Rod
Get it, got it.
00:15:46:10 – 00:15:55:13
Laurent
Okay, so I went through this all the process. And after three months, when I received the change of zoning, I was able to close immediately.
00:15:55:15 – 00:16:13:11
Rod
Fantastic event. That’s the reason I asked. Because, you know, when you’re dealing with something like that, guys, you’re gonna need to involve the seller in that kind of a situation because that’s of no value to you. If you can’t get that zoning change. This is applicable when you’re dealing with land sometimes as well. You know, you’ve got to get the use change.
00:16:13:11 – 00:16:31:04
Rod
You’ve got to get what they call the density, the number of units you can put in things like that. So again I want to get a, a micro. This is more for me than probably even my listeners more than that. But so the units was it, an extended stay type hotel where it had kitchens already, or did you have to put kitchens in?
00:16:31:09 – 00:16:38:18
Rod
I mean, what describe the sort of interior work that you had to do to turn these into actual multifamily units?
00:16:38:24 – 00:17:09:14
Laurent
Yes. So before I will give you an overview about, the land, because the value for me was about to learn each. Okay. Upland with 60 acres of lake. So it’s an excellent, excellent location, excellent situation. And from this point, my goal was to get not only 56 because at the beginning it was 56 there room. But I was able to get the density of 225 up amount.
00:17:09:16 – 00:17:10:07
Rod
Wow.
00:17:10:13 – 00:17:42:14
Laurent
So yeah. So, my first phase was to convert the 56 footers. Who we. So it was no kitchen, nothing inside. my first goal was to ensure that, we’ll follow the regulation about, housing. And the minimum requirement for the housing is to get minimum 352ft² per woman. Otherwise, it’s not possible to be considered as studio.
00:17:42:16 – 00:17:59:20
Laurent
So I was able to get, most of the room above 400ft², and we change all the plumbing, all the electrical or the roof. We have a new kitchen, new bathroom. It we think these bring you very nice to you.
00:17:59:22 – 00:18:16:14
Rod
So they’re all studio units? They’re all studios? No, it’s all studios. Okay. You got it all studio. You know, if you don’t know what a studio is, guys, there’s no bedroom. You basically, it’s one room. You’ve got a kitchen on one end. Maybe you’ve got a separate bathroom, obviously with a door, but the rest of it is one big room.
00:18:16:16 – 00:18:23:04
Rod
And, for for single people that that are on a budget, it’s fantastic, you know. So love it. Yeah.
00:18:23:08 – 00:18:35:17
Mark
So how long did this take from close to having everything done to being able to lease our units? And what did that cost as well? Because I would imagine it’s a little bit more expensive than a typical rehab project.
00:18:35:19 – 00:18:41:16
Laurent
Yeah. So to give you, some highlights, I chose this property $2.2 million.
00:18:41:18 – 00:18:43:03
Rod
That was the purchase price got.
00:18:43:07 – 00:18:52:17
Laurent
It was already a great, great deal because the seller was not aware about the new zoning. It got an and standard 2 million CapEx.
00:18:52:19 – 00:18:53:24
Rod
Okay, 2 million.
00:18:54:01 – 00:18:58:20
Laurent
Or 2 million. And it took me two years, 2 to 2.
00:18:58:20 – 00:18:59:23
Rod
Years to do it.
00:19:00:00 – 00:19:20:19
Laurent
Yes. To get everything to completion till the end. so you invest 4.4? I finish everything in September 2003, and we will 100% up 100 in January 2024.
00:19:20:21 – 00:19:28:14
Rod
Wow. Well, you got two years and you got an appraisal. I don’t want to steal your thunder. Talk about what you got. Sorry. I was going to say yes.
00:19:28:16 – 00:19:53:19
Laurent
And and finally I get I got an application, in March 2024 for nine point, $4 million or $9.3 million. And I was able to refinance, in March 2024. So at the same time, this property. So today we just to finalize all the cycle, the complete cycle of two of two years. We both just.
00:19:53:21 – 00:20:00:02
Rod
Everybody’s got their everybody’s got their money back. They’re still in the deal. There’s still cash flow. It’s a beautiful thing. Yes.
00:20:00:02 – 00:20:01:16
Laurent
You. Exactly.
00:20:01:18 – 00:20:06:07
Rod
And you haven’t even done the new construction on the other units yet. Yes.
00:20:06:09 – 00:20:08:06
Laurent
we’ll start in September.
00:20:08:08 – 00:20:09:17
Rod
Wow. Good for you.
00:20:09:17 – 00:20:30:15
Mark
That’s a $5 million value. Add minus holding costs. Obviously, in less than two years. You know, that’s that’s never something I could do, right? Because a year and a half, two years with no income, we’re there some stressful time, some stressful periods during that year and a half, two years, you know, not having income and going throughout this entire project.
00:20:30:20 – 00:20:34:20
Laurent
If it was difficult. No, it was not difficult when we knew the goal.
00:20:34:22 – 00:20:35:19
Rod
Yeah.
00:20:35:21 – 00:20:48:07
Laurent
When we when we focus on the goal, it’s a to be on the boat. Sometimes there a wave on the left and the right. It’s okay. So most important is to know exactly what the goal is.
00:20:48:12 – 00:21:03:18
Rod
Yeah. You’re gonna you’re gonna have those waves. You’re gonna have those waves they hit knock you off course. You know, if you’re in a boat or a plane, you’re off course 99% of the time, but you end up in the right place if you know where you’re headed. Bottom line. And, and, and and this is just the first piece.
00:21:03:19 – 00:21:13:04
Rod
Now you’ve got you’ve got the land really with no debt on it. I mean I’m maybe you do I don’t know, are you going to parcel it off or do it as part of the same package.
00:21:13:06 – 00:21:24:08
Laurent
So now I will subdivide the you’re going to buy some land in for, you know, two for you it would be four for you each for you will get 30 units.
00:21:24:10 – 00:21:31:13
Rod
So he said, okay, he’s saying folios. These means segments or or stages for stages. Got it.
00:21:31:15 – 00:21:40:18
Laurent
not only it will be subdivided by for you so we can subdivide with a county. Does it land in four different boxes.
00:21:40:22 – 00:21:59:17
Rod
Got it for different parcels. Okay. Folio is is the word that we don’t use here that much. But yes. Got it in four part four parcels. And so you’ll do what you say. How many units per per parcel. 5030. And but that land I mean that land really doesn’t have debt on it, does it. Because you’re are you able to pull.
00:21:59:18 – 00:22:00:12
Rod
Yeah.
00:22:00:14 – 00:22:01:17
Laurent
I mean that was.
00:22:01:20 – 00:22:17:10
Rod
For you man. That is such a screaming deal. Good for you, brother. I know there was a little I had a little angst around the deal. And I said, because because I, you know, I know you had warriors involved. And there was, there was a, communication thing with one of them. And I’m like, is everything okay with this deal?
00:22:17:10 – 00:22:31:20
Rod
I remember calling you about it and you’re like, yes, why are you bothering me? And I’m like, because that’s my job. Because it’s my job to make sure everything’s okay. But, what a screaming deal, brother. Congratulations. Seriously, that is. Thank you. So that is really, really exciting now.
00:22:31:21 – 00:22:42:24
Mark
So you partnering with other warriors on this deal had had any of you guys ever done a deal like this before or was it brand new doing a hotel conversion for everybody on the team?
00:22:43:04 – 00:23:11:07
Laurent
For myself, it was not the first time I did already one previously, but it was a smaller one. Okay, by myself went a little percent. but it’s Italy and Italy. Any type of business. When everything is well established and when they we think physically, when every corner is already it, we think is possible. Yeah. Knowledge is probably the most important knowledge.
00:23:11:09 – 00:23:11:23
Laurent
Yeah.
00:23:12:00 – 00:23:13:05
Rod
Knowledge is everything.
00:23:13:07 – 00:23:36:02
Laurent
Yes. The most dangerous is to, dealing with business all in real estate without any knowledge. This is probably, I think and the you feel the what’s the case when someone on tour, in any business, any acquisition or in, they don’t know exactly what’s going on, they don’t know how to analyze a deal. They don’t know what is in the I don’t know what is the culprit in this case, it can be very dangerous.
00:23:36:08 – 00:23:59:23
Rod
But but which is the value obviously the warrior program because there there are people that have done thousands of deals, done hundreds of thousands of deals at this point. And so, so, by the way, if you’re interested in the warrior program, for God’s sakes, here’s how you apply. And you should apply if you have any interest in this business, because it’s just would you say that it has it been pretty extraordinary the program for you so far?
00:23:59:23 – 00:24:00:15
Rod
Meyer?
00:24:00:17 – 00:24:08:06
Laurent
it was great. It was a great it’s a just a great to connect with people and good people. Great people. Absolutely.
00:24:08:06 – 00:24:29:16
Rod
Very, very good people. Yeah. That’s that’s I can’t believe the quality the people we’ve got in the group. If you want to apply, just text the word crush to seven, two, three, 4 or 5. Again, crush so we can help you crush it in this business. 272345. So so give us some detail as to how you found this off market deal.
00:24:29:16 – 00:24:35:07
Rod
So what did you do to even have it come across your desk. Talk about that a little bit.
00:24:35:09 – 00:25:06:21
Laurent
So during Covid, I decided to instead to stay behind my desk. I decided to travel and to meet a lot of virtual broker in Florida in each city. So I went for a few months and I decided to check the field to market to understand the market. And because the broker was available, because it was Covid, I was able to meet most of them.
00:25:06:23 – 00:25:13:05
Laurent
I met, some local in the public and I give in.
00:25:13:07 – 00:25:15:09
Rod
Polk, Polk County is what you’re saying, correct?
00:25:15:09 – 00:25:26:21
Laurent
Polk County? Yes. Okay. Yes. In sunflower, Florida. And I give them all the different specificity of both the type of deal that I was looking for.
00:25:26:23 – 00:25:27:20
Rod
00:25:28:22 – 00:25:53:05
Laurent
at this time, I was looking for specifically hospitality to multifamily because it was, for me, the best way to create very first, not only equity but also positive cashflow, very fast. At this time. It was, by the way, very difficult to find a multifamily with a good cashflow. I remember was like it used to be four 5%, which was not good.
00:25:53:07 – 00:26:14:16
Laurent
And, one of the broker contacted me and they told me that this fine the North market, and I asked them to, put me directly in contact with the seller amid them. and it was a very nice meeting, in liquids, between the sellers and will give and myself. And that was very clear and straight to both.
00:26:14:16 – 00:26:39:22
Laurent
Mike, what was a very serious about point proposal. I went with, the check and they went with a letter from the bank, which was a serious award. And they think that lot this type of, negotiation and we close probably in the in one hour this we find a good compromise for what we everyone. So it was a off market.
00:26:39:24 – 00:26:45:18
Laurent
it was a great deal for everyone, for the similar of the Boca and for myself.
00:26:45:20 – 00:27:04:10
Rod
And it’s on a lake, by the way, what you just said is very important. Guys, I don’t want to gloss over what he just said. Whenever you have a negotiation and you can have a win win win like he that’s what he just described. That’s the best situation you can have. Good deal for everybody where everybody, you know, it makes sense for everybody.
00:27:04:10 – 00:27:23:17
Rod
So, obviously you’re a great negotiator because for you to even say that means that that’s important for you. so I love that. so let me ask. Let me ask something here. Mark, apologize. so, you know, what suggestions would you have for someone starting out in this business?
00:27:23:19 – 00:27:33:17
Laurent
I think that that, one point, the most important. Is to jump in one deal.
00:27:33:19 – 00:27:34:12
Rod
Yeah.
00:27:34:14 – 00:28:02:04
Laurent
To take action is very important. and everyone can bring value. Everyone can bring value. So at one point, everyone should be involved in one of the different, you can be as a CPA, you can be as in-demand, you can be, someone with links, formed. But everyone can be involved as LP limited or GP. But I think that there is a room for everyone.
00:28:02:06 – 00:28:24:05
Laurent
everyone. I think each one needs to understand his own value. What is valuable to each one? Different people, different value. And these value combined can bring value to value for the so to answer your question, I think that the most important is to find a good team, the good people is a good deal, and to jump in when.
00:28:24:07 – 00:28:39:04
Rod
You know, I see it with I see it with my warriors all the time. We call it the law of the first deal. It’s the hardest. It’s the scariest. Sometimes takes the longest. They’re complaining because they don’t have a deal yet. And I’m like, just get out there and call brokers. Don’t send me your logo. I don’t care about your logo.
00:28:39:05 – 00:28:57:06
Rod
I want to know that you’re calling brokers, meeting with brokers, you know, talking to your people about raising money, doing income generating activity. And then they get one. And next thing I know, they have three. You know what just happened? It’s that first deals, like you said, Meyer, that is really good advice. You just gotta do it like Nike says.
00:28:57:08 – 00:29:20:01
Mark
So that’s a good point, right? Not not doing a bunch of stuff that doesn’t bring you results. Doing money, making activities as they write, you write logo doesn’t bring any money in. Yes. now, at your current pace, if you’re to keep doing these deals, maybe around the same size, if you were to project it out, how long you think it’ll take you to reach financial freedom?
00:29:20:01 – 00:29:24:16
Mark
Or how many more of these deals do you think you need to do to get to your financial freedom goal?
00:29:24:18 – 00:30:01:08
Laurent
So my financial freedom is depending goes are financial freedom from someone else because everyone knows exactly how much you have to get. If we go annually, depending on what they need, I’m gonna spend the financial freedom for someone can be 3000 for owners on 30,000, and or differently books for myself, I think that I can expect to get, financial freedom when that we get at least 200, apartments, US ownership.
00:30:01:10 – 00:30:15:09
Rod
Yeah, yeah, yeah. 200. Okay. Yeah. So, so let me ask you this. What do you love the most about this business? What what is your favorite part of of this real estate game that we love to play?
00:30:15:15 – 00:30:42:24
Laurent
So the main, two aspect that I love, I don’t like, but I love the syndication is the leverage because it’s possible to get access to a set that’s someone alone cannot get. Yeah. When we combine that, you feel knowledge and you feel on the value immediately we can bring the different type of assets.
00:30:43:01 – 00:30:43:17
Rod
Yeah.
00:30:43:19 – 00:31:12:05
Laurent
And the only, I like to be focused on one aspect, one field. So it’s very important because if someone buy, for example, a house to make a, to make money and to get the cash flow and to get to an nick, which is supposed to do everything left to buy itself to man, that just would have to rebuild, have to do everything but if someone invest in multifamily with one unit, they don’t have to get everything they can.
00:31:12:07 – 00:31:38:00
Laurent
They can find, for example, a property, or they can maintain the property, or they can bring the home. So it can be only one thing, but one thing. Very good lesson. The built expertise is probably what they learned in this type of business, because at the end we are sharing everything between expert and when expert combined all the knowledge, we can bring the best of both an asset.
00:31:38:03 – 00:31:47:08
Laurent
So best about the business which is at the end the most important. So I love equity. I love the values and I love connections with people.
00:31:47:14 – 00:32:00:23
Rod
Yeah. I just want to clarify something you said because I’m not sure people understood it. If I could see your face so I could read it. And you said, bring funds is what you said. You and I don’t know if people heard that you can bring money, you can bring deals, you can bring maintenance, you can bring asset management.
00:32:00:23 – 00:32:05:17
Rod
There’s all these different hats you can wear. But you you said bring funds. I just want to make sure they understood that.
00:32:05:19 – 00:32:06:06
Laurent
Yes.
00:32:06:08 – 00:32:15:14
Mark
So what what were some of the other things that the other warriors brought to this deal then, that you partnered with that you needed? What did they bring to the table?
00:32:15:16 – 00:32:16:04
Rod
Yeah.
00:32:16:06 – 00:32:21:00
Laurent
They bring equity. I was probably I was the only GP.
00:32:21:02 – 00:32:21:21
Mark
Okay.
00:32:21:23 – 00:32:43:05
Laurent
So you don’t have any other GP. so the goal for them was to be sure that I will execute the plan. So, yeah, they could quickly the business plan. And you love executions. So it was perfect for me because I was able to execute almost everything from A to Z. So I did everything by myself. Honestly.
00:32:43:07 – 00:32:49:12
Rod
Wow. So, so so you brought you you basically raised the money in the warrior group, which is fine.
00:32:49:15 – 00:32:50:01
Laurent
So that was.
00:32:50:01 – 00:32:56:21
Rod
Fantastic. A lot of people do that. so that’s just one of the additional benefits. There’s a ton of money in the group.
00:32:56:21 – 00:33:13:13
Laurent
So yes. so it’s a great group because again, the people shares the same type of mind, the same goal. So the quality of the people are probably one thing very, very important that we can find in this group. And I.
00:33:13:15 – 00:33:15:15
Rod
Love it. Love it. Yeah.
00:33:15:15 – 00:33:22:08
Mark
So if people like your strategy and resonate with this story here, Lauren, where where can people reach out to you.
00:33:22:10 – 00:33:40:04
Laurent
So anyone can reach me to, on my email? Lawrence l a u r e and t with a t like tumor n UT equity g family.com equity multi family.com.
00:33:40:06 – 00:33:54:12
Rod
Got it. Yeah. So Laurent Laura Laurent. Yeah got it Laurent at equity multifamily.com. Well thank you brother. It’s great to see you. Congratulations on that deal. Yeah and I do yeah I appreciate I appreciate you adding value today. My friend.
00:33:54:16 – 00:33:56:11
Laurent
Definitely appreciate it. Thank you. So so.
