Meet Agnes Wong, a formidable force in real estate investment and development based in San Francisco, California. With a robust portfolio exceeding $35 million in residential developments, Agnes is not just a savvy investor but a visionary project manager and designer. Her dynamic approach to transforming spaces reflects an unwavering commitment to excellence, making her a true warrior in the competitive world of real estate.
Here’s some of the topics we covered:
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ARV – After Repair Value
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Leveraging Your Superpowers
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Sacrificing For Success
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The Impact Of Inflation On Multifamily Real Estate
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Using a Sample Deal Pack To Attract Investors
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The Value of Over Subscribing
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The Benefits of a Peer Group
To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com
Full Transcript Below
00:00:01:10 – 00:00:19:07
Rod
Hi, my name is Rod Cleave, and I’m the host of the Lifetime Cash Flow to Real Estate Investing Podcast. And every week I interview multifamily rock stars. We talk about how they build incredible wealth for themselves and their families through multifamily properties. So hit the like and subscribe buttons and get notified every Monday when a new episode comes out.
00:00:19:10 – 00:00:39:07
Rod
Let’s get to it. Welcome to multifamily rock stars. So this is where we interview people that are crushing it in this business, and we show you guys the inside scoop into how multifamily investors are creating massive success in their businesses, in their lives. And as always, I’ve got my co-host, the director of my massive action team, Mark Nagy, on the call.
00:00:39:07 – 00:00:47:10
Rod
Mark, what’s up, brother? Hey. Hey. Not too much, Rod. Just I know we’ve got your boot camp coming up here shortly. So excited. Oh, yeah. You know, a new group of.
00:00:47:10 – 00:00:50:07
Mark
500 plus people that get into the business here.
00:00:50:09 – 00:01:08:23
Rod
Yeah, I’m actually was working on getting ready for that because we’re always making improvements and changes. I was actually working on that just a little bit ago. But yeah, for those of you listening, that’s coming up May 22nd, 23rd. So I think this episode will go live before then. So definitely want to check it out. If, if, if you’re interested.
00:01:09:01 – 00:01:38:06
Rod
So we have an awesome guest today who I’m super excited to see and to definitely talk to. Her name is Agnes Wong and she’s a real estate investor developer. She’s done a lot of project management. She’s in over 2000 doors as a NLP. I think 500 is a and she’s she, you know, she played a big role in developing some some a 90 unit condominium complex in Denver, and she’s told me she’s moving back to Denver.
00:01:38:06 – 00:01:42:22
Rod
So I’m really excited to dig in on her career. Agnes, welcome to the show.
00:01:43:00 – 00:01:57:13
Anges
Thank you. Rod Thank you, Mark. I’m super excited to be here because it’s like a full circle. Your podcast actually kind of kickstarted my multifamily journey, so I’m very excited to be on the podcast with you.
00:01:57:15 – 00:02:11:11
Rod
Love it. I love it. So. So take tell it, take us back and just talk about that journey a little bit. Give us a little background. I did. You know, I didn’t do the greatest job of ing you, so please please elaborate on on your background some more.
00:02:11:11 – 00:02:28:07
Anges
Sure. So I kind of grew up in real estate and construction. My family, like my grandfather, was a developer. My aunt’s developer brother in law is a developer. My dad has a business and heavy construction equipment like bulldozers and cranes. And being the first child, he took me to work a lot. So I grew up in construction sites.
00:02:28:07 – 00:02:54:19
Anges
He’s left me on bulldozers before I’ve fallen off. So I’m very familiar with house construction. But in terms of investing, I invested start investing out of state about 16 years ago because I lived in California. So I would invest out of state, also have experience in development. Like you mentioned, the 98 condo in Denver, and then I’d move back to San Francisco and start out rehabbing and fixing flips in San Francisco.
00:02:54:21 – 00:03:26:12
Anges
For the last six years or so. And business was really good. We have our own slips and we also actually manage and design and just take the whole package from beginning to end. For other developers because we were doing well. But in 2009 I saw the pipeline was starting to slow down. It was hard to find projects and in San Cisco was very different market because there’s no not really buyer strategy here because you can’t really rent it out and break even or refinance it.
00:03:26:14 – 00:03:49:04
Anges
So and it’s also really risky because the air is like 2.5 million. So it’s really risky to hold on to it. If only the exit strategy of selling. At the same time, my husband had a medical condition that he had to resign from his CEO job, which was really difficult because now without his high paying job, no medical insurance.
00:03:49:04 – 00:04:13:04
Anges
Living in San Francisco, it was kind of challenging. But fortunately we had some a rental portfolio that was supporting us with passive income, and that’s when the light hit. And I thought, I have to focus on this passive income, but how do I get there? So I did man, like quick math, $200 per door, and then you need $100 to make 20,000 a month.
00:04:13:06 – 00:04:23:08
Anges
But you can’t. It’s hard to achieve that with single family. So I started learning about getting into multifamily and listen to your podcast and.
00:04:23:08 – 00:04:27:11
Rod
It’s been all downhill since there.
00:04:27:13 – 00:04:44:10
Anges
And looking into coaching programs, networking, investing as LP. So I actually invested as LP first before joining your real program. It just happened that the Dallas Sunset Terrace deal came up and it was a great deal. So I actually.
00:04:44:10 – 00:04:49:15
Rod
Invest Oh, you’re a you’re invested in that one too. Okay. Yes. Fantastic. Okay.
00:04:49:17 – 00:04:51:11
Mark
Wow.
00:04:51:13 – 00:05:14:15
Rod
That’s one of our deals, guys. And by the way, let me just circle back for one second just to stop you for just pin, pin, pin. That spot she mentioned RV, which which is means after repaired value. If you haven’t been around the real estate world at all. That’s what that means after you’ve repaired. That’s the value. She also mentioned the BR Strategy B RR, which is buy, renovate, refinance and repeat.
00:05:14:15 – 00:05:15:08
Rod
Is that correct?
00:05:15:08 – 00:05:15:23
Anges
And repeat once.
00:05:16:00 – 00:05:28:21
Rod
Rinse and repeat, rinse and repeat. You know, it’s it’s more of a single family term, but I just wanted to clear that up for anybody who didn’t know what you meant. So so you did an LP in Sunset Ridge and then please continue from there. Sorry.
00:05:28:23 – 00:05:53:06
Anges
Yeah. So in this and then I you guys are great in terms of educating your investors and very transparent so that Robert was visiting the Sunset Terrace project. And so during a site visit and I went along and I met him and then I met the team and I was very impressed with Robert, with the, the regional manager, the property manager.
00:05:53:06 – 00:06:05:17
Anges
They were just on top of things and even like small things, we were walking the project and the property manager saw trash on the floor and she picked it up. And I just the small things like that, you know, it just shows that she really cares.
00:06:05:19 – 00:06:08:23
Rod
She’s a rock star. She’s one of our favorites. Yeah, yeah, yeah.
00:06:08:23 – 00:06:17:00
Anges
And I it’s when I set a goal, I have to partner with Ron and Robert and also join a war room program.
00:06:17:02 – 00:06:45:17
Rod
Right? Oh, that’s. That’s when you joined. Okay, fantastic. Well, I know you’re in. You’re in other deals with us and, you know, things are going quite well. But let me let let let’s go ahead and get into some questions for you. And so maybe what might you say to someone that’s listening that hasn’t started yet? And and, you know, that that’s thinking about getting started, not sure what to go after, what to do, how to start, what what advice might you give them?
00:06:45:17 – 00:07:07:00
Anges
Agnes Sure. I think it’s a very simple, like three step process. I think first you have to have a dream, like a vision of what you want to achieve, what your life, what life you want to live. Then it’s learning, networking. You need to learn. You need to be good at what you’re doing and network is really key.
00:07:07:02 – 00:07:10:14
Anges
And then the third thing is take action. That’s about it.
00:07:10:16 – 00:07:16:23
Rod
It’s it is that simple. It is that simple. People all over complicated. But it is absolutely that simple. Yeah.
00:07:17:00 – 00:07:29:10
Anges
Yeah. And your program was amazing. Not just the business part, the real estate business part, but you also have the mindset, the psychology part. So it’s really a well-rounded program.
00:07:29:16 – 00:07:35:21
Rod
Yeah. Thank you. Thank you. Yeah. We’re real proud of it. So go ahead, Mark.
00:07:35:23 – 00:07:45:01
Mark
What role has that networking really played in building your business? How has the networking helped you get from where you started from there to where you’re at today?
00:07:45:03 – 00:08:12:17
Anges
Sure. So I invested so first, I also invested with other syndicators to learn what they’re doing, how they’re communicating with investors, also talking to other potential partners to partner with being in San Francisco. So I looked at what my strength will be. So it’s actually more on the capital raising part. So just networking with other potential syndicators and then also networking with investors.
00:08:12:19 – 00:08:30:08
Anges
So I would have investor meetings even before I had a deal. I would show them the sample deal, walk them through and ask them if something like this comes up like, would you be interested? And it’s really important that you do that before deal comes out because you don’t want me scrambling for funds when the deal does come up.
00:08:30:10 – 00:08:48:03
Rod
Yeah. So. So you have aligned with multiple operators then? Correct. And so, you know, one of my questions was, have you built a nucleus, a team? But it’s been your team has been bringing your skill sets and your superpower to other teams. Is that is that would that be an accurate statement.
00:08:48:05 – 00:08:49:16
Anges
Read the other syndicators.
00:08:49:16 – 00:09:03:22
Rod
Yeah like I know you’ve done it with us and you’ve done it with others. So that’s the and guys, as you as you know, this is a team sport and you you want to and you want to focus on what you’re great at and bring that to a team of people that are focused on what they’re great at.
00:09:03:22 – 00:09:22:15
Rod
And when everybody is focused in their power and their strengths, success is inevitable. So. So that’s awesome. So let me let me ask you this. What did you have to sacrifice to achieve the success that you have, which is very, you know, laudatory? So it would talk about that a little bit.
00:09:22:15 – 00:09:44:23
Anges
The sacrifices are definitely personal time, Netflix time. Yeah. Because I you know, at the time I had just you know, so I was working on my picks and flips. I have a family that I had to make dinner to help my son with homework and stuff like that. So my time was a lot of it was working on the family was after he’s asleep.
00:09:45:01 – 00:09:50:20
Anges
I’m looking at analyzing deals, so it’s definitely sacrificing some of your Netflix time.
00:09:50:22 – 00:10:00:07
Rod
Right? Right. But how long is this multifamily journey lasted? I mean, how long when did you start in start in multifamily? How many years ago?
00:10:00:12 – 00:10:03:04
Anges
So about June of 2019.
00:10:03:06 – 00:10:04:00
Rod
Yeah. Wow.
00:10:04:04 – 00:10:04:16
Mark
Wow.
00:10:04:18 – 00:10:05:21
Anges
Your program.
00:10:05:23 – 00:10:06:16
Mark
Wow.
00:10:06:18 – 00:10:08:14
Anges
And I feel like you since the beginning.
00:10:08:18 – 00:10:21:01
Rod
Yeah. I mean, and look at you already. You’ve got incredible success. So this is very impressive that you’re where you are as fast as you are. Just fantastic. Okay, So I just I’m curious.
00:10:21:01 – 00:10:42:14
Mark
I live in California as well. I get this question a lot for people that want to invest out of state. Right? Is what value am I going to add to somebody where they’re somebody else? The deal is somewhere else, right? If they’re out of state, obviously, it sounds like your superpower was raising money. I’m sure being in San Francisco, probably around a lot of high net worth individuals.
00:10:42:14 – 00:10:49:13
Mark
But how did you figure out what your superpower was and then transition that into, you know, building a team?
00:10:49:15 – 00:11:10:11
Anges
Sure. Because we actually, you know, for our fixed and flat projects, we have a lot of friends and family that’s been asking us how can we invest with you? But with the fix and flip, we have our own money and then we have hard money, so we don’t really need investors. So we’re we have a group of people that want to invest because they see like our fix and flips.
00:11:10:13 – 00:11:30:23
Anges
So that’s so it’s just kind of building on that. And I invest alongside my investors because actually the other way around now, because they want to know what I invest in and then they want to be part of it. So it’s actually the other way around now. And it’s, you know, because it’s hard to invest in San Francisco real estate in San Francisco.
00:11:30:23 – 00:11:38:13
Anges
So, you know, they’re open to out-of-state as long as it’s someone they trust. You know, there’s a good track record.
00:11:38:15 – 00:11:45:07
Mark
Okay. So you just went to your single family investors and said, hey, would you be interested in investing money in multifamily? Basically.
00:11:45:09 – 00:11:53:08
Anges
Yeah. And show them like walk them through the sample deal that I invested in myself and it’s you know, it’s joint performing well.
00:11:53:10 – 00:11:55:09
Rod
That’s one of the things that.
00:11:55:09 – 00:12:17:00
Mark
We give our Warriors is, is examples of sample deals because it’s so easy, you know, if you’re not, if you don’t if you if you don’t have an experience in sales and influence to just say, hey, this is here’s a deal that that that we did or we do deals like this, if we find one like this, would you be interested in getting a phone call from me and checking it out?
00:12:17:05 – 00:12:24:09
Mark
And it’s really that simple. You don’t have to overthink this equity raising thing. It really can be that simple. Would you agree?
00:12:24:11 – 00:12:50:19
Anges
Yeah. So I’m just passionate about sharing with friends and families or acquaintances about this, this passive income. And it’s I think multifamily is the best investment in cash flow is a one. It’s, you know, it’s resilient because you can see with the pandemic and the 2008 recession and, you know, as we were seeing inflation coming up right now, you know, multifamily is greatly position with.
00:12:50:21 – 00:12:52:16
Mark
Bad because rents will go up.
00:12:52:16 – 00:12:54:10
Anges
You know, rents will go up.
00:12:54:10 – 00:13:05:18
Mark
Yeah, Yeah. It inflation doesn’t isn’t necessarily a bad thing for for multifamily owners. You know you said something you said something that I want to draw attention to. Do you love real estate? You love multifamily.
00:13:05:18 – 00:13:09:00
Anges
Love. I love real estate. That’s okay. Yeah, I’m really passionate.
00:13:09:01 – 00:13:10:12
Rod
And the reason I ask.
00:13:10:12 – 00:13:20:06
Mark
Because because the way that what you hear me, you guys heard how she describes it. She’s passionate about it. And if you’re passionate, you have the ability to influence people.
00:13:20:10 – 00:13:21:07
Rod
And so so.
00:13:21:07 – 00:13:40:00
Mark
What I will tell you is if you don’t love this multifamily business yet, then associate pleasure with it, because you can learn to love things. But if you can’t learn to love it, for God’s sakes, go do something else. Because when you’re passionate about something, it’s infectious and people want to be around you and they want to work with you and and invest with you and so on and so forth.
00:13:40:00 – 00:13:43:08
Mark
So anyway.
00:13:43:10 – 00:14:02:08
Anges
I wanted to circle back to that sample deal, like showing a sample to other. And so I think it’s really fun to do because I would go through with it, you know, the deal with them and then they would say, this is not available. You mean this is can you tell me when the next deal comes out? Yeah.
00:14:02:09 – 00:14:09:05
Anges
Showing them something in the path that they actually can invest. And that’s a really good deal. It’s actually makes them want to invest more.
00:14:09:07 – 00:14:11:20
Rod
Let let me let me let me add one little spin.
00:14:11:20 – 00:14:12:20
Mark
On that, too.
00:14:12:22 – 00:14:13:20
Rod
Let me tell you something.
00:14:13:20 – 00:14:27:04
Mark
When you subscribe for a deal and you raise money, we always tell you oversubscribed like do 125% because people have things happen and they bail on you, but do not think it’s a bad thing when you’re fully and.
00:14:27:05 – 00:14:28:04
Rod
When all the money’s in.
00:14:28:04 – 00:14:42:02
Mark
On a deal and you’ve got people that still want to invest because I can tell you, who do you think is going to be first in line next time? Because they didn’t get their money in in time the first time. So it’s the same thing. It’s like the rope in front of a hot nightclub. People want what they can have.
00:14:42:04 – 00:14:47:02
Mark
So that’s that dynamic. That certainly applies when you’re raising equity as well. Yeah, Yeah.
00:14:47:03 – 00:14:49:07
Rod
Well, another another nugget that I wanted to touch on.
00:14:49:07 – 00:15:11:22
Mark
There are people listening that are thinking about following Agnes’s path. There is investing as an LP and what A-Rod’s deals or Warriors deals or whatever, because not only will it give you that sample deal that you can walk future investors through, but it’s going to help with your conviction because I’m sure you made some money out of it and you started to believe in multifamily a little bit more.
00:15:11:22 – 00:15:35:19
Mark
And maybe don’t even realize it. But when you believe in it more, you become a better salesperson. And and then when you go to raise money, you believe in it a lot more and you’re a lot more convicted when you’re going out to raise money. So awesome. Awesome piece of advice there. In your opinion, Agnes, what do you think is the most common reason that people fail or give up when they get started in this business?
00:15:35:21 – 00:15:57:01
Anges
It does take persistence. Like I had a goal of partnering with Rod and Robert and I would check in with Robert periodically and I have to prove that I can do what I’m saying that I can do. So I think it’s it’s and it wasn’t just overnight. So it does take time and just being persistent and you will run into obstacles.
00:15:57:02 – 00:16:02:11
Anges
But just as long as you have your vision, then I think you will overcome the obstacles.
00:16:02:14 – 00:16:03:12
Rod
Any any major.
00:16:03:12 – 00:16:12:04
Mark
Setbacks, any any failures that maybe positioned you for future success, Anything come to mind, maybe even in the printing side of things. So talk about talk about a setback.
00:16:12:06 – 00:16:22:11
Anges
Tons. There’s tons of setbacks. Like, for example, you know, we’re talking about the 90 unit condo. We completed that early 2008 right? So that was really.
00:16:22:11 – 00:16:27:08
Mark
Oh, wow. I did not know that. Holy cow. Yeah. And you survived it?
00:16:27:10 – 00:16:32:02
Anges
Yes. And we survived it. Yes. A lot of developers actually come in at suicide, right?
00:16:32:03 – 00:16:33:01
Mark
Oh, I know.
00:16:33:03 – 00:16:56:21
Anges
Yeah. It was some really hard times, but. And because credit froze, we’re only able to close like, 10%. So we rent it out like 80 units. But, you know, Denver Market is doing so well right now, so. Oh yeah there it’s been a lot of, I guess, mistakes but I think as long as you learn from it then it’s like you said, it’s like you always say it’s like.
00:16:56:23 – 00:16:58:10
Rod
A seminar, you know.
00:16:58:12 – 00:17:02:16
Anges
So I think the biggest mistake you can make is not taking action.
00:17:02:18 – 00:17:23:11
Rod
Yeah. Or giving up or, you know, like, like some of those developers and, and real estate investors did back in 2008. I mean, back in the Great Depression, people jumped off buildings, too. And, you know, and thank God I was around, you know, I was in an environment personally, you know, I lost $50 million. I was in an environment that that of people that were thriving.
00:17:23:11 – 00:17:43:09
Rod
I was in a mastermind. It was actually Tony Robbins platinum partnership. And and I was around people that were killing it through all that. And they’re like, hey, quit what? You know, quit, saw, quit, you know, wipe yourself off, you know, get just dust yourself off, go make it happen. And and that’s why, you know, a peer group like the warrior group or like a mastermind is so powerful.
00:17:43:09 – 00:18:00:17
Rod
And by the way, guys, if you’re interested in the warrior group, text the word crush to seven two, three, four or five. That’s crushed 272, three, four, five. And and we will see if you’re a fit. We do you know there is an interview process and an application process but and you check us out and we check you out.
00:18:00:17 – 00:18:04:02
Rod
But it’s an incredible Would you agree? It’s an incredible group, Agnus.
00:18:04:02 – 00:18:04:08
Mark
I mean.
00:18:04:13 – 00:18:17:11
Anges
Yes, the group is amazing, definitely. But it’s good to be with a group of people that share the same goals and vision and they inspire you.
00:18:17:13 – 00:18:40:08
Rod
Yeah. So let me ask you this. What do you think it takes to become a multifamily investor like you have? What do you what do you think are the traits or qualities? Do you think there are certain things that you must have or things that you know or traits that you shouldn’t have or just speak to? Answer that the best way you can?
00:18:40:10 – 00:19:07:14
Anges
Sure. I think as long as you have the tenacity that you want to do that, because if you’re not good at like what? I wouldn’t be as good as making broker relationships and going out to see the properties. But I can team up with someone that could be boots on the ground. So whatever you’re not good at and you can team up with someone that’s good at that and still make it happen.
00:19:07:16 – 00:19:13:16
Anges
But the most important thing is you need to have that tenacity to do what you want to do.
00:19:13:18 – 00:19:18:14
Rod
Yeah, Grit, determination, resolve. You’re just not going to give up.
00:19:18:14 – 00:19:29:06
Mark
Yeah, I guess. What do you think the biggest is? The biggest risk that you’ve taken in just real estate in general or even in life? What’s the biggest risk you’ve ever taken?
00:19:29:08 – 00:19:57:01
Anges
Biggest risk? I think in real estate, the risk is really not that high. I’ve just been investing a lot in real estate, so but as long as you do your research, I like to be in markets, you know, with strong job and population growth where I can sleep at night. So that’s just my investing philosophy and I think that mitigates a lot of risk in terms of real estate investing.
00:19:57:01 – 00:20:21:06
Anges
And then with multifamily, it’s definitely a partner like the operator that you work with. Make sure that you guys align in value and vision. Yeah, I’m sure that there are few things I look for. Make sure that they execute it because it’s actually a business being a multifamily. Make sure that they’ve executed similar business plans before and make sure their underwriting is conservative.
00:20:21:07 – 00:20:32:15
Anges
A lot of syndicators would say they’re conservative, but you have to make sure their assumptions are really conservative. Yeah, and then as long as it’s a good market.
00:20:32:17 – 00:20:53:02
Mark
Yeah, that sounds like you’ve followed Warren Buffett’s number one rule. Don’t lose money. Yeah, that’s really that’s really sound advice, Agnus, I will tell you. Let me ask you this. What do you think is the most challenging part of what you’re doing in the multifamily space? What’s the most challenging and what do you enjoy the most? I want you to answer both those questions, if you would.
00:20:53:04 – 00:20:56:02
Anges
Sure. Well, let’s start with what I enjoy the most.
00:20:56:02 – 00:20:57:01
Mark
Good, good, good, good.
00:20:57:06 – 00:21:19:14
Anges
So I used like I said, I’m very passion about building passive income and sharing it with other especially families because of what I went through. And so I’m like really happy when I get calls or emails are actually getting gifts now that they’re so thankful that I introduced them to multifamily. So that’s been really rewarding and that’s very cool.
00:21:19:17 – 00:21:20:09
Mark
Yeah.
00:21:20:11 – 00:21:22:10
Rod
Same here, same here. I mean, that’s why I’m.
00:21:22:10 – 00:21:32:19
Mark
Addicted to what I’m doing. I get loves seven, eight, nine, ten times a day. Just amazing DMS, emails, gifts, cards. I love it. I love it. All right. Now challenging.
00:21:32:21 – 00:21:57:23
Anges
Challenging part. Well, how do you gifts? Because it’s I guess the challenge is how do you get in the business? But it helped, I think, a lot with the Warrior program because you gave us like even like a blueprint, like even the script called Brokers. What do you say on your first call? So I think that mitigated a lot of the challenges of getting into the business with the Warrior program.
00:21:58:04 – 00:22:10:03
Mark
Mm hmm. Yeah. Yeah. Thank you. So let me ask you this. Who inspires you? You know, who do you follow? You know, who where do you get motivation? What where does that motivation come from?
00:22:10:05 – 00:22:24:18
Anges
Sure. I’m the person that inspires me the most is my aunt. She is just full of life and just passionate about everything she does. And I really admire that. And it inspires you.
00:22:24:23 – 00:22:26:20
Rod
Is she a businesswoman or just.
00:22:26:22 – 00:22:30:03
Mark
Yes, she is. Okay, Fantastic. Fantastic.
00:22:30:05 – 00:22:31:08
Rod
So I want to follow up.
00:22:31:08 – 00:22:35:20
Mark
On what before you ask your next question, Mark, what’s your definition of success?
00:22:36:00 – 00:22:40:21
Anges
Agnes Oh, yeah. Like I said before, it was when I got calls and emails.
00:22:40:21 – 00:22:41:10
Rod
Oh, that’s your.
00:22:41:10 – 00:22:44:02
Mark
Definition. Okay? That’s what the definition is.
00:22:44:04 – 00:22:50:14
Anges
When I’m able to help other people build passive income, that that makes me really happy.
00:22:50:16 – 00:23:04:12
Mark
It’s nice. Well, that probably rolls into my last question here, which is what’s what’s next for you? I know you mentioned that this journey, it seems like it’s kind of just getting started for you. So what is the what’s the ultimate what’s next for you?
00:23:04:14 – 00:23:24:03
Anges
Yeah. So so I’m looking at deals, looking at other, you know, more and more multifamily deals, but that’s really hard to come by, as you all know, looking at development deals. But that’s also really hard because the returns have to be a lot higher than multifamily for it to make sense because of the risk in.
00:23:24:04 – 00:23:25:02
Rod
What markets are you.
00:23:25:02 – 00:23:25:20
Mark
Looking in right now?
00:23:25:20 – 00:23:29:00
Anges
Agnes Colorado Springs for Colorado Springs.
00:23:29:00 – 00:23:30:17
Mark
Well, that’s my old backyard.
00:23:30:19 – 00:23:58:02
Anges
Yeah, Yeah. But we’re looking into like because lumber prices have gone up so much. So I know about City of Used Steel if we use prefab like but still I love I think still multifamily is the best investment of all because I think that from day one and many many other benefits. So I’m keep looking at opportunities and sharing it with other friends and families about these deals and helping them build passive income.
00:23:58:04 – 00:24:00:17
Mark
Yeah, yeah, yeah. Now if you.
00:24:00:19 – 00:24:01:22
Rod
You know, if you were coaching.
00:24:01:22 – 00:24:19:12
Mark
Somebody about this business, what’s specific roadblocks might you tell them to watch out for or hurdles or challenges. You know somebody because there are lots of people that are listening that are that are that haven’t started yet. And so so go ahead and answer that question.
00:24:19:12 – 00:24:31:05
Anges
Sure. I think you don’t know what you don’t know. So you really have to research network and learn about this this field and then figure out where your strength is.
00:24:31:07 – 00:24:55:19
Mark
Mm hmm. Yeah, that’s really good. And bring that and bring that and bring that to the team because, you know, the most successful teams I see are, you know, everybody playing to their strengths. You know, Why do you think people fail to succeed in this business? I think I think I know the answer because I think it’s the same answer that you gave previously.
00:24:55:19 – 00:24:58:19
Mark
But I don’t want to assume. So let’s hear it.
00:24:58:21 – 00:25:12:08
Anges
I think it’s having we we talked about having that grit and tenacity. And I think that that psychology, what you’re good at and what’s holding you back, you know, I think it’s an ecology part.
00:25:12:10 – 00:25:30:22
Mark
Yeah. I just got off the phone with a warrior that that needed, you know, needed a little juice and and I helped him re associate with his goals and why those goals are a must because it’s just so, so critical to, to know what it is you want. How the heck are you going to get anything if you don’t know what it is?
00:25:30:22 – 00:25:43:13
Mark
So if you could give just one piece of advice to my listeners, you know, 1111 bit of advice that you think would have the most impact, what might that be?
00:25:43:15 – 00:25:51:14
Anges
Oh, take action. And it even if it’s some small steps each day, it will amount to great a great thing at the end.
00:25:51:16 – 00:25:58:03
Mark
Yeah. Yeah. No, I love it. Mark did you have anything else to ask?
00:25:58:05 – 00:25:58:22
Rod
What’s next?
00:25:59:00 – 00:26:22:22
Mark
Yeah, you said what’s next? You’re looking for deals. You already asked that question. Okay, In in any. Well, you know what? I do have a couple more. Forgive me. Just getting over COVID. So. So were there any small moments in your career? We are like, holy cow, just just like. Like the clouds parted or just everything got bright.
00:26:22:22 – 00:26:25:08
Mark
Anything come to mind with with that question?
00:26:25:10 – 00:26:29:02
Anges
Yeah. So that was in 2019 that I mentioned when.
00:26:29:02 – 00:26:29:10
Rod
You when the.
00:26:29:10 – 00:26:32:10
Mark
Multifamily when you realized that was it okay.
00:26:32:12 – 00:26:51:05
Anges
Yeah it was like the light bulbs, like I need to focus on passive income, but how do you get there? Is multifamily That’s yeah, that was the biggest aha moment I think in my life and it was, it was a really difficult time in my life. But I think, you know, what doesn’t kill you makes you stronger. So I think I’m I’ll come out better.
00:26:51:06 – 00:27:06:10
Mark
Oh, that’s, that’s, that’s a great story. And you know, some of the most successful people and most successful companies in history came out of tough times. And, you know, and through innovation and pivoting and I know we’ve had to do it here in my organization. So do you have a favorite quote?
00:27:06:12 – 00:27:10:21
Anges
Yes. There are some on its determination to equal success tomorrow.
00:27:11:01 – 00:27:12:12
Mark
Oh, I love it. I love it.
00:27:12:15 – 00:27:19:19
Anges
I love it. Like want to do things like it’s kind of like that five second rule where it’s like five, four, three, two, one. Just do it.
00:27:19:21 – 00:27:38:02
Mark
Just do it. Yeah, that’s right. Well, you just you just get to. You have 5 seconds of courage. Well, listen, Agnes, it’s been a real treat to see you. I really appreciate you coming on the show. And it just so, so proud of what you’ve accomplished in such a short amount of time. And it’s just a gift to me to see it so thank you.
00:27:38:02 – 00:27:54:21
Mark
And and I’m sure we’ll we’ll see you soon. Hopefully we’ll be able to do live events in person soon again, and we’ll come back to L.A. and and, of course, Denver. I mean, that’s my backyard, so. Or my old backyard. So we’ll go there again. But wonderful. Was great to see you and thanks for coming on now.
00:27:54:21 – 00:28:00:09
Anges
Thank you so much for your coaching, your inspiration, and I really look forward to seeing you in person again.
00:28:00:15 – 00:28:03:15
Mark
Yes. Thank you. Thank you.
00:28:03:17 – 00:28:04:06
Anges
Thank you, Mark.
