Marquice Hobbs, is the Acquisitions Manager at Investream, where he underwrites properties, raises capital, and crafts strategic business plans to deliver strong, data-driven returns for investors. Alongside his role in real estate, he serves as the Pastor of Contemporary Worship at Christ Church Sugar Land, mentors youth at juvenile facilities and underserved schools, and volunteers with nonprofits. His commitment to both spiritual and financial growth highlights his passion for service. Here’s some of the topics we covered:
- Why Strategic Partnerships Are Game-Changers
- The Power of Conservative Underwriting
- Exit Plans For A Development Deal
- Must-Ask Questions Before You Dive Into Your Next Property Purchase
- How to Win Big in Slow, Steady Markets Like Oklahoma
- The Distressed Economy And The Deals That Are Coming
- Why Joining The Warrior Group Could Be Your Best Investment Yet
- Investing Smart In New York & California
- How an Intentional, Mindful Routine Fuels Success
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;00;00 – 00;00;15;08
Rod
Welcome back to multifamily Rockstars. So as you guys know, this is where we go deep on our guests deals and we show you really action items to take so you can do your first deal. And as always I’ve got my co-host Marc Nagy. What’s up Marc. What’s going on.
00;00;15;08 – 00;00;22;00
Mark
Right. Excited. Kind of a unique one here today. I’ll just leave it at that and, let the guests get into it.
00;00;22;05 – 00;00;39;23
Rod
Yeah, I heard about this. Yeah. So? So we’ve got Marquice Hobbs, who’s in Houston and where I was literally last week, dealing with some troubled asset there. But, Mark’s a pastor and a great guy, and, we’re going to talk about his development deal. Welcome to the show, brother.
00;00;39;25 – 00;00;52;22
Marquice
Thanks, Rod. Thanks, Mark. It’s an honor and privilege to be here with you guys. Listen to you all. You’re definitely one of the rock stars, right? To say the least, in the industry. So this is a privilege of mine to share the same space with you.
00;00;52;25 – 00;01;09;16
Rod
Well, that’s kind of you to say that, my friend. Thank you. So let’s let’s talk about this deal. You’ve got a development deal. You know, talk about how big it is, and, and, you know, well, just talk about it. Yeah. Tell us about it.
00;01;09;18 – 00;01;34;21
Marquice
Yeah. For sure. So one of the most important things when it comes to commercial real estate, as you taught us, in the academy and a lot of your trainings is partnerships, partnerships, partnerships, partnerships. I mean, you can have a great deal and a terrible partnership, and it can really ruin the deal itself. And so I’ve been very blessed to be a part of a team here in Houston that recently expanded into the Oklahoma market.
00;01;34;24 – 00;01;54;10
Marquice
The team actually has a presence in Oklahoma with some of our principals. And so one of the uncles came out of retirement. Go, uncle. He’s spent 15 years in development there in Oklahoma. He built all the eye hops out there. So if we ever stop in at Ihop, you’re probably in one of his developments in a couple, small apartments.
00;01;54;10 – 00;02;15;06
Marquice
And so we got uncle to retirement. He found a piece of land and a really nice part of Oklahoma City. Got it for really, really cheap. It was less than $3 a square foot. I believe it’s just right under five acres. We didn’t have to build a detention pond. There was one on site that we can use.
00;02;15;08 – 00;02;22;06
Marquice
And so when you’re looking at it like that, with rents out $11, I mean, hey, this is a this is a win.
00;02;22;09 – 00;02;24;02
Rod
You mean $11 a square foot?
00;02;24;05 – 00;02;24;29
Marquice
Yep.
00;02;25;02 – 00;02;45;12
Rod
Right. And so now what he’s talking about, guys, is a retention pond. Very often when you develop, they’ve got to have this water management system. You know, if you just put a bunch of concrete down, where’s the water going to go. So they make you put in a pond. And you’ll see that very often when you drive by some commercial property, you go in the back or the side and you’ll see this, this depression that’s typically got water in it.
00;02;45;12 – 00;02;51;18
Rod
And that’s a retention pond. So we’re already had one. We’ve got it all entitled. You haven’t turned a shovel yet.
00;02;51;20 – 00;03;17;22
Marquice
No, no. We just purchased the land and we’re going through the horizontal development. That’s everything. We refer to soft cars with the permit survey and things like that. This is actually one of the things I love about land development. When whatever you’re building, you may have the business model of developing an apartment complex, a spa, business park, etc. but there’s a lot of diversity that you can use when you’re, developing the land itself in a way you parcel out and things of that nature.
00;03;17;22 – 00;03;26;20
Marquice
So, we’re going through that horizontal side right now, you know, on the permits in order with the city and then, you know, we’ll start building, okay after that.
00;03;26;22 – 00;03;34;24
Rod
So that’s where you’re at. Okay. All right. Fantastic. Now, you said you got it for $3 under $3 square foot. And the comps are almost double that. Right.
00;03;34;27 – 00;03;56;17
Marquice
So comps in that area are close to $6 a square foot, right. Which is really is still a big deal. So there’s some value that already built into the property itself before you even do anything. And rents in that area were actually going for like 12 to $13 per square foot. And what we like to do, we actually are more conservative with our underwriting.
00;03;56;19 – 00;04;13;19
Marquice
Appreciate that about my team. And we underwrote at about $11 per square foot, right. The $12 per square foot. So we’re already below what the market rate is. We got the land below where the market is and, it really looks like is going to be a solid return for our investors.
00;04;13;21 – 00;04;15;00
Rod
And that’s fantastic.
00;04;15;03 – 00;04;34;15
Mark
That’s so funny. I’m doing a development deal right now myself. We’re about to close on a 14 unit, and, same situation came from another warrior. His uncle actually owned the land. Let’s go uncle. That’s who we bought it from. Yeah, I know. Random thing that you just mentioned there. Yeah. Her, uncle in-law, I guess it was, but same same thing.
00;04;34;18 – 00;04;56;01
Mark
But, I know obviously in that scenario, we’re doing it because there’s there’s no inventory in that market. Right. And so we figured if we can’t buy anything, let’s just build it. Walk us through. I know you talked about kind of the square footage there for the people listening who don’t understand any of that. Walk us through like the basic underwriting is the plan to, is it build to rent and then hold it, and refinance.
00;04;56;01 – 00;05;01;07
Mark
Are you planning on selling it? What is the plan and what are the underwriting look like going through all that?
00;05;01;09 – 00;05;11;12
Marquice
Yeah, that’s a really good question. I appreciate that, Mark. And congratulations on that development. You guys got one especially from another angle I love it. Yeah we need more uncles in the game. Yeah.
00;05;11;15 – 00;05;12;17
Mark
Good connection.
00;05;12;19 – 00;05;33;23
Marquice
Yeah definitely. So the underwriting for development I mean, to be honest with you, some of the things are pretty much set in stone, right? You’re going to have certain costs. We call them soft costs. Those everything horizontal. When you’re working with the city, many of those things are already set. And your construction cost is going to be the next the hard cost, the vertical one.
00;05;33;26 – 00;05;54;10
Marquice
And so we kind of developed the in-house template with our team now to help us expedite this process, because there wasn’t really a good one on the market. And one of our principal was a CEO, Alex Lewis. Shout out to al, he has a background in oil and gas and acquisitions and dispositions. So he’s a numbers guy through and through.
00;05;54;12 – 00;06;16;13
Marquice
So they built this template for us. And essentially the underwriting really comes down to what are the rents in the market and what is the land cost, for that market. And we were able to plug those in and we got a really nice spread. So we’re building close to $120 per square foot, and we’re projected to sell that close guys when it’s $70 per square foot.
00;06;16;20 – 00;06;18;09
Rod
So the plan is to sell it.
00;06;18;12 – 00;06;33;19
Marquice
Yep, yep. The plan is to sell it. And on that piece what we’re really building are three buildings on about four and a half acres. We’re building one building. The first one, that’s going to be a single tenant. It’s triple net. And then from there we’re going to build.
00;06;33;19 – 00;06;39;05
Rod
Okay, hold on, hold on. Let me explain what you just said. Yeah. So single tenant. So single tenant is a retail or office.
00;06;39;08 – 00;06;41;29
Marquice
This is actually light industrial office okay.
00;06;41;29 – 00;07;03;13
Rod
So a light industrial office. So that means it’s going to have an office with a warehouse behind it, kind of thing. Okay. And fantastic. So that’s going to be one tenant. Triple net guys means that the tenant pays for everything. Taxes, insurance, maintenance, everything. So, which is what you’ll see in a lot of retail as well, like Walgreens and Dollar General stores.
00;07;03;13 – 00;07;17;20
Rod
And, you know, things on the corners of main intersections are very often, single tenant triple net leases, in retail as well. So. Okay, so, so, so you’ve got that, triple net. Please continue. So that was the one building.
00;07;17;20 – 00;07;50;00
Marquice
Okay. Yeah. Just real quick I appreciate that. Right. That’s one of the things I love about, what you do. You’re always about education, education, education. And so thank you for putting a pause on that for me. So, yeah, we’re going to get the single tenant triple net. And the reason why we decided to go with light industrial over retail is that when it comes to light industrial, you can pretty much put up a steel frame and fill it, which the tenants sometimes when it comes to retail, there’s a lot of spec that goes into it, a lot of creative, subjective designing for that particular business.
00;07;50;02 – 00;07;58;20
Marquice
Instead, we’re like, hey, let’s just build this frame. We’re going to fill it with our tenants and kind of break it down per unit, and we’ll go from there.
00;07;58;20 – 00;08;02;03
Rod
So how many units will be and how many units will be in that building?
00;08;02;06 – 00;08;04;24
Marquice
Yeah, the first building is one tenant.
00;08;04;24 – 00;08;08;25
Rod
But it’s just one tenant. You’ve already got at least or sorry. No no no.
00;08;08;25 – 00;08;29;14
Marquice
No no I appreciate we don’t have at least yet because we’re still in, horizontal development with city. Oh, but of course, our model and this is helpful for anyone who’s looking to get into the space of developments, specifically with flex space or light industrial. Our model is we’re going to build it, we’re going to fill it, and we’re going to sell it, build it, fill it, sell it.
00;08;29;17 – 00;08;30;08
Marquice
That’s our model.
00;08;30;11 – 00;08;57;23
Rod
I love it. Yeah. Now, you know one thing you said, you know guys what he’s talking. You know, obviously you know what he’s talking about when you say an office retail, you got a little office in the front and you’ve got warehouse. I’m not office retail, office, warehouse, flex space. And and flex means it’s flexible so that, you know, and very often when you say flex space, you might have a building like that and you might carve it into in half and let two people rent there or three people or whatever.
00;08;57;25 – 00;09;13;17
Rod
That’s why it’s called flex space. It’s got a lot of flexibility now with retail. What he was just talking about is you can have a lot of interior finishes, okay. You can have tenant finish. It’s called. And so you’re going to do a lot of work after the fact to get a tenant in there where with an office you just hand them the frickin keys.
00;09;13;17 – 00;09;30;15
Rod
And, and I mean I’m sorry, warehouse. You just hand them the keys and they’re off to the races. Okay, fantastic. So in, in, in, I will tell you, I think there’s a whole Amazon dynamic with retail as well. I mean, you you got to think about that and what’s happening there because, you know, retail did get hammered with Covid as well.
00;09;30;15 – 00;09;35;04
Rod
But anyway, I digress. So what’s what’s what’s what’s after this, what’s after that first building.
00;09;35;06 – 00;09;54;12
Marquice
So after the first building that gives us an opportunity. Right. We’re either we can subject to market or excuse me, survey the market to see if we want to exit and exit by selling a business. Because this first building is going to be cash flowing with the tenant, we can sell it with the specs for two other buildings and not.
00;09;54;12 – 00;10;19;27
Marquice
It gives us some versatility, but our primary business, plan is to then build two more buildings. So the first one is going to be about 12,000ft². And then we’re we’ll two other buildings, each for around 54,000ft² or so. And what that’ll give us from a tenant basis is about 27 units. That will be leasing out to other business owners.
00;10;19;29 – 00;10;35;11
Marquice
And what that provides is kind of an exit strategy. One of the things you must always do in any business you’re in is start with and in mind. You have to start with the end in mind because especially in development, you got to ask yourself who’s going to be the end user? Who’s going to be the end buyer?
00;10;35;18 – 00;10;46;17
Marquice
Who are going to be your tenants? What audience are you going after? I mean, we’re we’re developing something else, and that’s exactly what we’re having to keep in mind. Who are our specific tenant bases? And so for the.
00;10;46;17 – 00;11;01;17
Rod
Elaborate elaborate on that, if you would, please. I’m sure you did some homework. You’re not from my in my mind, I was thinking multifamily. I didn’t realize you were doing that. This was all flex space. I was expecting you to say I. We’re going to put 30 units in the next building, like a multifamily. So. Yeah, I got so.
00;11;01;17 – 00;11;20;28
Rod
So how did you. Well, let me ask you this. What sorts of tenants do you anticipate, leasing the smaller because 12, by the way, 12,000 for a single tenant. Good size, good size spot. Right. How big do you expect the other ones to be? And what sort of tenants do you expect in the big one and the smaller ones?
00;11;20;28 – 00;11;21;29
Rod
Do you have any thoughts on that?
00;11;22;05 – 00;11;49;29
Marquice
So for us, the tenants that we looked at were really based on the market. Oklahoma City is a large logistical hub. It’s a large hub for that. In that particular area where we’re building, an airplane is nearby. Excuse me, an airport, not an airplane, but multiple airplanes. There’s an airport nearby. And as soon as we’re going after other people who have started businesses in their garage and now they’re looking for more space to house their business.
00;11;50;05 – 00;12;12;23
Marquice
We’re also looking for people in the utilities industry. So plumbers and electricians, they need an office, storefront or even like Amazon. Sometimes Amazon needs these types of warehouses to store their products. So when we’re making our Amazon order in there, get there in the next day, it’s because they’re pulling the shipment from warehouses like ours to deliver it to, to your home.
00;12;12;26 – 00;12;20;22
Marquice
And so there’s a diverse, tenant mix that comes with flex spaces, specifically building industrial flex spaces.
00;12;20;25 – 00;12;21;16
Rod
00;12;21;18 – 00;12;25;06
Mark
How big are the smaller units going to be when you finish. Do you know.
00;12;25;09 – 00;12;49;01
Marquice
Yeah. So in buildings two and three in total that’s going to be 54,000ft² between the two of them. And what that will then come down to is about 24,000 or so per, per building. And that can be anywhere from 1000% to 20% or so. It really just kind of depends on, when we get to that stage, how we want to break.
00;12;49;02 – 00;12;50;20
Rod
Down with it and what they want.
00;12;50;22 – 00;12;51;06
Marquice
Yeah.
00;12;51;08 – 00;12;53;16
Rod
Exactly. Because it’s flex. Okay.
00;12;53;18 – 00;13;14;06
Mark
Yeah. Now, one thing I do want to ask you about and, and this probably is part of the homework that you did moving into a new market into Oklahoma in terms of like you mentioned, the tenant base, the job growth, the income, different things like that that we always teach to look for. Because coming from a guy, Houston, and rod, you can speak to this as well.
00;13;14;06 – 00;13;34;28
Mark
I know parts of Texas are getting really hit hard right now because of inventory. Same thing with Florida and all these big Covid boom towns. Nashville, right to where there’s tons of inventory. They’re getting hit super hard right now. Places like Oklahoma, Midwest, northeast. I don’t know if you call Oklahoma midwest, but all those other places, are doing really, really well right now.
00;13;35;01 – 00;13;46;14
Mark
What did you see in Oklahoma, and how would you even compare that maybe to, to Houston in terms of, you know, why you moved into that market? What are you seeing there? Maybe you’re seeing the same thing as me.
00;13;46;16 – 00;14;08;02
Marquice
Yeah, that’s another great question, Mark, I appreciate that. This again, goes back to what I was saying earlier about partnerships. Our principals have family and kind of grew up in Oklahoma area. Uncle West, he came out of retirement and he knows his stuff in that market. The best way that I’ve heard it explain about Oklahoma City specifically is that it’s slow and steady.
00;14;08;04 – 00;14;13;28
Marquice
It’s a very slow and steady market in many regards. They tried Midwest.
00;14;13;28 – 00;14;32;11
Rod
The whole Midwest is candidly, you know, when twice. Sorry to interrupt. When 2008 nine hit, it was pretty flatlined across the Midwest. What got killed was Florida, Texas, Arizona, California. The southern states got killed. But but the Midwest, you know, did. Okay. So anyway, sorry to interrupt. Please continue.
00;14;32;11 – 00;14;48;22
Marquice
No, that’s that’s absolutely that’s absolutely correct. And I mean, right, you you know, all of this. You’re you’re the expert here in the groove of the teaching. So I mean, that’s exactly right. The Midwest was slow and steady. Oklahoma was one of those slow and steady and to me is the fifth largest city in Texas. So why not invest there?
00;14;48;22 – 00;14;54;01
Rod
Right into fifth? Oh, you mean fifth largest city in what, in the country?
00;14;54;03 – 00;14;55;27
Marquice
In Texas. In Texas? What is.
00;14;55;29 – 00;14;56;12
Rod
What is.
00;14;56;12 – 00;14;57;21
Marquice
Oklahoma City?
00;14;57;24 – 00;14;59;08
Rod
You mean in Oklahoma? You mean.
00;14;59;11 – 00;15;08;05
Marquice
No, no, no, I mean in Oklahoma City. I’m from Texas. So back in the day, a little history lesson. Oklahoma was a part of the Texas Republic until we had to sell it off because of the.
00;15;08;05 – 00;15;20;06
Rod
Oh, okay. Right. So that’s no job for the people. I went to the Alamo. I went to the Alamo last week. Okay. All right. So we’re going way back. Okay. You got that one good one. No, no, I.
00;15;20;08 – 00;15;38;06
Mark
I think that’s super I think that’s not talked about enough right now because Midwest again is something that I’ve transitioned to with other partners right now. And yeah. And rod if you even want you know, I know we’ll talk about this on another podcast. We just talked about this. But obviously you have assets in Texas. San Antonio I know is doing is doing well.
00;15;38;10 – 00;15;46;22
Mark
But Houston I know is struggling a little bit. Are you seeing that because of all the inventory that’s coming in online? Is that part of the reason you’re noticing in your assets?
00;15;46;24 – 00;16;10;28
Rod
You’re talking to me. Yeah. You know, I, I, I don’t think I want to speak to that right now because we’re seeing some challenges with some of our assets. But I don’t think it’s it’s really the market as much as it is prior mismanagement. So, you know, I, I don’t want to I don’t want to really say, you know, we’ve got assets in San Antonio or one a mile away from and others doing great.
00;16;10;28 – 00;16;23;03
Rod
The, the new one we have is challenge getting getting people across the door with nicer units. So, you know, we’re there’s a lot of factors involved, but, I love Texas okay. So I love Texas I no.
00;16;23;06 – 00;16;26;05
Marquice
Right. You’re welcome anytime. Yeah. You’re welcome any time in.
00;16;26;05 – 00;16;40;20
Rod
Texas I’ve never done anything in Oklahoma, but but, But I love Texas. And so I got a question. What is the construction type of the buildings that you’re building? Are they metal or are they brick? Are they are they frame stucco? What are they.
00;16;40;23 – 00;16;43;07
Marquice
Yeah, that’s a great question. It’s a it’s a steel building.
00;16;43;09 – 00;16;48;03
Rod
Steel. Fantastic. So much easier and fast you can throw. Exactly. It’s a quick.
00;16;48;06 – 00;17;10;04
Marquice
Decay. You know. So part of our story is invest stream. We really cut our teeth on apartments. That’s where we first started as LPs investing into those. And then we moved over to the GPU portion, focusing primarily here in Houston, but in the Houston market. And you probably experiences just so far, they began to slow down, talk to any broker from last year, 23.
00;17;10;07 – 00;17;16;21
Marquice
And I’ll tell you, they probably saw about 70% reduction in transactions across their desk.
00;17;16;24 – 00;17;18;21
Rod
It’s about 90% now.
00;17;18;21 – 00;17;20;02
Marquice
Almost. Yes, quite.
00;17;20;02 – 00;17;35;23
Rod
Candidly, for for sales, which is why guys deals are coming. Okay. I was telling you because there’s a there deals are coming. This economy is is is going to cause some distress. And so anyway, please continue with your thoughts. Yeah.
00;17;35;25 – 00;17;52;26
Marquice
So our core has always been multifamily. There’s a lot of tax breaks, a lot of incentives with that. And I mean you teach about this, right. So we kind of began to branch out a little bit into some other niches. We’re first started with a flex space. We’re building one here in Houston. It’s a very unique one.
00;17;52;29 – 00;17;56;28
Marquice
I don’t know if you’ve ever heard of it. Right. Is called X space. Have you heard of that in Austin?
00;17;57;00 – 00;17;58;05
Rod
No.
00;17;58;07 – 00;18;24;10
Marquice
Okay. So these, Australian developers actually came over in Austin, built this unique, I call it a luxury parking garage slash condo. They built one in Austin, and then now they’re building it in Houston. And we’re partners on that one. It’s essentially like a glorified man cave. You can park a vehicle there on the first three floors. You can have your business there, have a chiropractor, you can have your studio, etc..
00;18;24;12 – 00;18;49;11
Marquice
And so we we got into the flex space through that, which is a really niche and luxurious item. And then we got into the development of apartment complexes. Now we’re developing flex spaces. We’re looking at senior active living. We’re looking at built to rent communities. You know, we have our hands on a lot of different parts, but it all has a connection to impact communities for the better, because we’re honestly here for the people.
00;18;49;14 – 00;18;57;16
Rod
Nice, nice, nice. And it sounds really unique. I mean, you pull your Ferrari right there in the into your living room, I guess.
00;18;57;19 – 00;18;59;29
Marquice
So I’m trying to tell you it’s real unique.
00;19;00;03 – 00;19;02;07
Rod
Yeah, that’s that’s an interesting and.
00;19;02;07 – 00;19;20;04
Mark
By the way. Right. I would argue deals are already here. We, last year we had a deal offered to as an eight unit for 1.2 million direct to seller. Guy hasn’t paid his taxes. He wants to get out of it with his partners. Just last week, he offered it to us for 500,000. Okay. Yeah. So, prices have already come down.
00;19;20;06 – 00;19;42;28
Mark
And markets. I know we can talk about this. You’re probably seeing the same thing a lot, right? 30% in a lot of markets. But I want to back into you because we talked about your deal. You talked about what’s next for you. But let’s let’s back into you a little bit, just a little bit about yourself and how you kind of figured out your skill sets, your superpower from starting brand new, fresh into multifamily.
00;19;42;28 – 00;19;47;13
Mark
Because we didn’t even talk about that. And how did you go about building your team? From there?
00;19;47;16 – 00;20;07;24
Marquice
Yeah, yeah. You know, that’s that’s a dangerous question to ask a pastor, because it is open ended. We have three closings, right? But, I’ll make it quick. So my background is I’m actually a pastor in Houston. That’s my full time job. I even hate same job or gig, but that’s what I do full time. And so I began that in 2018.
00;20;07;27 – 00;20;26;08
Marquice
I also got married in 2018. So both of my careers got started in 2018. Right? And then from there, I really got to see how the sausage was made, in a sense of the budgeting for the church and how we allocate our tithes and not giving a lot of it goes to personnel and to the building, which is but any business.
00;20;26;11 – 00;20;48;01
Marquice
But I didn’t want to be one of the passes that were making a lot from the church. I wanted to find a way to supplement my income, to give back to the church so we can do more missions. We can impact our children in the neighborhood and more of our community. So with that, I started looking at different forms of income, learned about single family because my wife’s family is in that primarily in Atlanta.
00;20;48;03 – 00;21;13;06
Marquice
I was going to get into it, but decided to hold off until I bought my first home here in Houston. Fast forward decided in 22 to join Brad’s program because I needed a mentor, I needed a network, and I needed to learn from somebody who knew what they were doing. There’s a bunch of gurus out here, and some of them are better than others, but to be honest with you, I really love the mindset behind rod and the education behind rod.
00;21;13;06 – 00;21;34;01
Marquice
And when you look at a lot of your students, I mean, you see it like that stuff is contagious. I remember talking to Rob, who’s from Dallas. We were at an event in Dallas, and he was just singing your praises. And I said, you know, let me look into this guy, Ron. And so, I joined anyway in 22 that summer, October, my daughter was born.
00;21;34;03 – 00;21;50;00
Marquice
And so I slowed down. But the way I got started in commercial was honestly, during that season, my wife had told me, hey, if you’re going to go into this program, you’re going to have to go into it without costing us any debt because we got a baby on the way and you a pastor, so you don’t make a lot of money.
00;21;50;06 – 00;21;52;24
Marquice
I was like, yes, ma’am, yes, ma’am. Happy wife, happy life, right?
00;21;52;25 – 00;21;54;07
Rod
That’s right, that’s right.
00;21;54;10 – 00;21;54;29
Marquice
Exactly.
00;21;55;00 – 00;21;56;08
Rod
And so, yeah, you.
00;21;56;08 – 00;22;17;20
Marquice
Know, I was trying to I learned something in my career, right. And so, anyway, I actually joined your program without a mentor. I just got into it, got the education, started networking, and eventually got connected with a group out in Houston. They brought me into their network and their community. Really appreciate those guys at Massive Capital.
00;22;17;22 – 00;22;35;07
Marquice
Mike Bailey is one of your students. And so that’s how it can happen. Yep. Jasmine as well. Really great people. So anyway, I started bringing them deals, started underwriting, starting learning how to underwrite, started networking. And eventually I got connected to a guy named Allison Lewis.
00;22;35;10 – 00;22;54;26
Rod
That’s really that’s really awesome. I’m going to tell you have some incredible people in the warrior program. By the way, guys, if you are interested in applying to our warrior program, text the word crush to 72345 and, and you can talk to our team. You know, we look you over, you look us over. And I can tell you, you set up a call.
00;22;54;26 – 00;23;10;06
Rod
You going to leave that call? Better than when you got on it, whether we work together or not. But again, text crush to seven two, three, four, five. And if you do, you will be speaking soon. So so then you did the transition to flex.
00;23;10;09 – 00;23;23;08
Marquice
Yeah. Yeah, yeah. So, this year I, we started looking into flex and we started looking into even, senior living building cottages instead of their apartment style.
00;23;23;08 – 00;23;42;24
Rod
Oh, yeah. Know all about am I? You know, I almost did that. I literally I keep interrupting you this this interview, I apologize, you know, I’m, I’m a four and a half stars on my freaking podcast instead of five because I interrupt too much. And I’m sorry, guys, those of you that please, please don’t leave me hate again because it’ll drop me down to four or something.
00;23;42;24 – 00;24;10;15
Rod
But, you know, it’s it’s funny, I was going to do senior living and, and I, I got my license to be, the administrator here in Florida. Went to a three day class, got the domain name, affordable senior housing.com. But I met a guy that does cottages, I think, in Oklahoma, actually trying to remember his name, but he does these cottages where it’s all senior living and and you can build these small like, like nucleus cottages and you can combine them with one kitchen and whatnot.
00;24;10;15 – 00;24;16;18
Rod
Yeah. It’s so funny you said that. That’s why I got excited because I remember this is this is 16, 17 years ago.
00;24;16;25 – 00;24;45;01
Mark
Anyway, all in all, one more interaction as well, because I, I live in California and and I know we always talk about never and I, I say this as well never invest in California in New York that that crazy states. But yeah, but if you are dead set absolutely on doing that and you’re listening and you’re just, you’re so afraid to go out of it, senior living, is a great way to do it, because you do not deal with a lot of the challenges in terms of evictions, crazy rent bombs, a lot of the things that you have to deal with.
00;24;45;03 – 00;24;47;19
Rod
Yeah, but you better take care. But I’m not.
00;24;47;19 – 00;24;50;24
Mark
Saying that foolproof, but it is. It is a way to overcome some.
00;24;50;24 – 00;24;58;08
Rod
Of the liability issues, correct a liability. You take care. You don’t want to hurt you. You don’t want to abuse grandma or take you not take care of you.
00;24;58;08 – 00;24;59;11
Marquice
You definitely don’t want to do direct.
00;24;59;13 – 00;25;20;02
Rod
I want to be very, very careful with that. I’ve got a great friend that’s got actually, Alf’s assisted living facilities inside of houses in Sacramento. She’s a great friend of mine, and she has run six of them. And, and I. And there was a guy, a late he he passed with Covid. Unfortunately, I’m Gene Guarino that taught that how to how to take a house and turn it into assisted living.
00;25;20;02 – 00;25;25;05
Rod
But so so you’re seriously considering that to be an operator or to build it and sell it to another?
00;25;25;05 – 00;25;35;13
Marquice
Yeah, we’re well, sort of like both. I mean, I can’t tell you the secret sauce and how we’re doing it, but, you know, if you’re interested, right? We can always have an offline conversation.
00;25;35;15 – 00;25;55;19
Rod
Hey, listen, there’s a silver tsunami coming, okay? All right. Now, I think there’s 10,000 people a day hitting retirement age. It’s that, you know, it’s that baby boom bubble. You know, I used to say they’re getting old and getting cold, you know, that’s why. That’s why I wanted to buy a house, but, But, yeah, now we should have a conversation, because I’m actually very interested, and I’m actually very interested in flex as well.
00;25;55;24 – 00;26;18;00
Rod
I think it’s an incredible asset class that that, you know, as long as you do your homework and you look at the areas occupancy and vacancy to make sure it’s not saturated, I remember I was, at my, step mom’s house in Chicago, and, and I was just driving around. I was jogging, actually. I was jogging around, and I just noticed a lot of empty flex space.
00;26;18;00 – 00;26;18;14
Rod
And I thought.
00;26;18;20 – 00;26;19;05
Marquice
Yeah, okay.
00;26;19;05 – 00;26;25;03
Rod
So, you know, you really want to do your homework and see what the occupancy is and the demand is, but,
00;26;25;06 – 00;26;25;17
Marquice
Yeah.
00;26;25;18 – 00;26;27;16
Rod
Interesting, interesting, brother.
00;26;27;19 – 00;26;44;17
Mark
And just for for action items here, just in general, what are for the listeners, what are some things that you do on a daily, weekly, monthly basis and some action items for people that are just brand new into this? You can say, hey guys, go start here, go learn this, go do this, whatever.
00;26;44;20 – 00;27;06;15
Marquice
Yeah. That’s a that’s a really great question. I mean, to be honest with you, commercial real estate is is like the analogy of an elephant that you’re trying to take down, right? You’re trying to chew an elephant. You in my opinion, you have to find somewhere to start and just take one bite at a time. Honestly, I would I would really ask myself, okay, what part of commercial real estate do I want to get into?
00;27;06;15 – 00;27;26;22
Marquice
And multifamily? Hey, that’s a that’s a great place to get started. And then there’s a whole process and what that can look like right from getting connected with people like you guys and the warrior program, making sure you’re getting the education because your responsible for these investment. At the end of the day, people are saying, I trust you.
00;27;26;22 – 00;27;47;22
Marquice
If they give you that money, I trust you. Even though they make their own due diligence and sound call. You’re responsible for your investors. So you better be educated about these deals that you’re bringing to them. And so I think education is an important key, but I would even go back further than that. Honestly, I think one of the things I appreciate about rod is the way that he invest into us, his students.
00;27;47;24 – 00;28;07;02
Marquice
I’ll never forget when you sent me the Miracle Morning book, because that’s one of your love languages is giving and that miracle morning, but really set the stage for me because you talked about how to start your day with intention to get up and make a tradition and a routine of your morning. And so every morning I have my own routine.
00;28;07;02 – 00;28;32;09
Marquice
I’m waking up at 430 in the morning to spend time with God, or to go work out, spend time, setting my intentions for the day, what my goals are going to be for the day, knocking out some of those savers that he talks about in a book. Right. And kind of moving forward. So I would say start finding yourself a morning routine and then start setting your intentions or your goals that you have.
00;28;32;11 – 00;28;48;09
Marquice
And the way you set your goals is actually by working backwards, where do you want to be in five years or ten years? What’s that specific number you want to get at for your family that you can enter into and be financially free? Then work backwards? What does that look like based on a number of doors and businesses own work backwards.
00;28;48;09 – 00;28;55;24
Marquice
How many businesses will it take a dues take to get to that point? And then eventually, you know, here’s where I can start in each step that I need to go along the way.
00;28;55;26 – 00;29;17;20
Rod
Yeah, yeah, that’s a great, great, great, description of of executing on your goals is really determining, you know, you you want this many deals. You know, you’ve got to make this many calls. Meaning how many, a month a week a day. Yeah, an hour. And you work backwards, so that’s awesome. Do you mind? Are you okay with listeners reaching out to you?
00;29;17;23 – 00;29;19;19
Marquice
Yeah. Yeah, I love the bandwidth.
00;29;19;19 – 00;29;23;08
Rod
Okay. What’s what’s the best way for them to do that, buddy?
00;29;23;11 – 00;29;45;22
Marquice
Yeah. So you can go to our company website and scream.us. That’s where I invest am us. Or you can look me up on, LinkedIn. I love connecting with people on LinkedIn. Okay. And so my name is Bill Ma COO. UIC last name is Hobbs H. Hobbs.
00;29;45;24 – 00;29;47;13
Rod
Perfect, perfect, perfect. Thanks.
00;29;47;20 – 00;29;49;11
Marquice
Forward to seeing you this weekend.
00;29;49;13 – 00;30;07;10
Rod
Oh. You’re coming. Oh, fantastic. Yeah. We’ve got a warrior event this weekend, guys. We’re just. We invite warriors, and, And we do deep dives on underwriting, and we’ve got some incredible speakers this time. And there were ribbons on their lanyards, so they’re looking for money. If they’re looking for sponsors, if they’re looking for deals, if they’re a beginner.
00;30;07;10 – 00;30;21;29
Rod
So the different colored ribbons for the different things they’re looking for, because now this business is all about who, you know, it’s more important than what you know. I mean, you’ve alluded to that in this in this interview. And so we do everything we can to facilitate. And our most successful warriors, by far, the ones that are most connected in the community.
00;30;21;29 – 00;30;33;08
Rod
So we facilitate those connections with these warrior only events. The main purpose is to network like crazy. And so there are a lot of fun. It’ll be a blast. You’re going to love it. Is this your first one or if you’ve come before.
00;30;33;10 – 00;30;35;19
Marquice
This is my first one with the warrior only. So I’m.
00;30;35;19 – 00;30;47;18
Rod
Super. Yeah. You’re going to love it. It’s. It’s such good vibes and good feeling. Everybody’s happy and connecting. It’s really awesome. All right, brother, be well. It’s great to see you Mark. I’ll see you later, buddy. All right. See you guys. Take care.
00;30;47;21 – 00;30;48;12
Marquice
Bye. Thank you.
00;30;48;13 – 00;31;08;03
Rod
So one other quick thing. We encounter so many people that are frankly frustrated. You know, they’re looking in the mirror and they’re frustrated that they haven’t been able to escape the rat race. They haven’t been able to build cash flow to the point where they’re able to have financial and time freedom with their families, you know, and maybe they see other people buying real estate and creating, you know, incredible cash flow.
00;31;08;03 – 00;31;37;03
Rod
And they think, well, it’s just scary. You know, buying apartments is intimidating. And I get it. See, that’s why we created our warrior mentorship program. There are coaching students and they’ve had extraordinary results. My students I’ve been teaching about five years and upwards of 140,000 units. Now that we know of. Right. And we feel like it’s just getting going now, we’re looking to grow this group and really take it to the next level and honestly believe that the greatest transfer of wealth could be upon us right now with this current economic environment.
00;31;37;05 – 00;32;08;24
Rod
Everything’s going on sale. So we’re looking for people who want to follow a proven framework, really like a blueprint or a map, literally step by step. And then they’re able to leverage our systems and our incredible network to raise money and equity, to find deals and close those deals and build partnership really nationwide. So if you’re interested in finding out more about how you can become more in our incredible network and take advantage of the unbelievable opportunities that are upon us, you can apply to my Warrior Mentorship program by texting the word crush to 72345.
00;32;08;29 – 00;32;23;29
Rod
Or you can go to mentor with rod.com. And what we’ll do is we’ll set up a call. So you can check us out, and we can check you out and see if it’s a fit. Now again you can go to mentor with Broadcom or text the word crush to 72345 to apply. And we will speak soon.
