An Indianapolis native and graduate of a top 20 business school, Justin delved into real estate in 2017, culminating in the establishment of Next Level Equity, facilitating hassle-free investment for professionals. His move from a multifamily underwriter to a full-time apartment investor reflects the understanding that a W2 job alone wouldn’t fulfill Justin’s financial aspirations.
Here’s some of the topics we covered:
- Falling Down The Rabbit Hole Of Syndications
- Introvert & Extrovert In Multifamily
- Being Flexible With Your Thought Process
- Underwriting Tips For Deals
- Bridge Debt In Multifamily
- The Multifamily Deals That Are Coming
- Market Inflation and What To Expect
- The Three Main Reasons To Start Multifamily Investing
To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com
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Full Transcript Below
00;00;00;00 – 00;00;22;17
Speaker 1
Welcome to another edition of Life Time Cash Flow Through Real Estate Investing. I’m Rod Cliff and I am thrilled that you’re here and I know you’re going to get tremendous value from the gentleman I’m interviewing today. His name is Justin Gooden, and he founded Next Level Equities in over $500 as a general partner. And a little uncomfortable with this interview because he’s on the underwriting side of things and he’s pushing himself.
00;00;22;17 – 00;00;32;28
Speaker 1
And I’m very impressed by that because, you know, I couldn’t underwrite my way out of a paper bag, but I’m exaggerating a little bit. But Justin, welcome to the show, brother.
00;00;33;00 – 00;00;34;10
Speaker 2
Exactly right. It’s honor to be here.
00;00;34;14 – 00;00;54;02
Speaker 1
No, I appreciate you coming on. And I know you’ve got a very interesting background that obviously lends itself to this business. So I’d love you to tell my audience your story. You know why? Real estate, you know, and describe your your ascension into being an operator and a general partner in deals.
00;00;54;10 – 00;01;19;20
Speaker 2
Yeah, happy to. So I’m born and raised here in Indianapolis, Indiana. I got my first taste of real estate by investing in fixing flips and single family houses here in Indianapolis. Was doing that for for a while and quickly found out that it was not passive. It was basically just another job on top of the job I already had already, which was at the time going to school and work.
00;01;19;22 – 00;01;42;05
Speaker 2
So, you know, doing like do business school. I studied finance and supply chain management. I was doing fix and flip projects and buying rentals on the side and on various houses I bought in. I really didn’t really know exactly what I was doing, but the seller of this property, we were talking to him on the porch and I asked him, you know, why are you selling this house?
00;01;42;05 – 00;02;06;19
Speaker 2
You know, very, very basic, very beginner friendly question. And without hesitation, he mentioned that he was liquidating all of his assets and going to invest in apartments, which at the time I thought was just a little crazy because he was also a younger guy like me. He was also in school. And so a normal kind of average looking guy going to invest in apartments.
00;02;06;21 – 00;02;32;02
Speaker 2
I just had absolutely no idea how he was going to do that. So that was actually the very last house. I bought those. Immediately after that, I stumbled upon this world of real estate syndications, raising capital for investors and working with partners to buy these larger properties you normally cannot afford on your own. So that really kind of put me down that trajectory of going down the rabbit hole of those syndications and multifamily.
00;02;32;05 – 00;03;06;15
Speaker 2
So, you know, very similar after that. I graduated from college with that finance degree and really wanted to learn more about commercial real estate and apartments in general. So I started working for a commercial bridge lender in Indianapolis a year as a multifamily underwriter. So that was obviously, you know, really fantastic experience for myself and what I do now and being able to be, you know, like on on the banking side, seeing how banks underwrite properties, how they evaluate sponsors, I feel like all that experience was really beneficial for me and what I do now.
00;03;06;17 – 00;03;21;01
Speaker 2
So since then I exited my W2 to strictly focus on apartment syndications here in the Midwest, primarily here Indianapolis, we’re active in just over 500 multifamily units and working on our first kind of development deal next month.
00;03;21;01 – 00;03;33;24
Speaker 1
Fantastic Brother. So you’re bringing something out of the ground. So talk about to the make up of your 500 unit. So what’s what’s the, what is the average size or give me some ideas on the size of the, the assets you’re purchasing.
00;03;33;25 – 00;03;55;01
Speaker 2
Yeah. The smallest property is going to be a six unit that’s like 15 minutes down the street. For me, the largest is going to be a 236 unit. I’m just a huge proponent of doing really good deals. Whether that’s a, you know, 20 units, 100 unit, I’m just a big proponent of, you know, the deal makes sense and it’s in a great area and you get a really good price.
00;03;55;04 – 00;04;00;24
Speaker 2
I’ve just always been a huge fan of buying either small, medium or even large sized properties.
00;04;00;26 – 00;04;22;10
Speaker 1
Good for you. I agree completely. My my team fights me on this, but I would absolutely buy smaller assets around my backyard. And so so let’s talk about team for a second. What is the makeup of your team? You’re obviously on the underwriting side. You’re typically not the mouthpiece, I would guess. Are you doing the equity raising as well or you have other people doing that talk about, you know, the different people on your team.
00;04;22;12 – 00;04;25;29
Speaker 1
You can name them or not name them, I don’t care. But really more importantly, what do they do?
00;04;25;29 – 00;04;46;02
Speaker 2
Yeah. Is working with local partners, other people that I know like and trust here in the same market that I am, people that I, I know and have the same goals. But yes, I’m primarily, you know, reaching out to brokers, lenders, sellers, directly underwriting the deals. Of course, that’s all like what I really enjoy. I do a little bit of everything.
00;04;46;02 – 00;04;55;21
Speaker 2
I’m still on asset management calls. I’m still raising equity from investors. Primarily. My strong point I would I would say is underwriting and finding deals.
00;04;55;24 – 00;05;23;10
Speaker 1
Yeah, Yeah. Okay. So you’ve done these deals with different team members, then you don’t have like a stock team you’re doing every deal with yet. And that’s very common. By the way, when people get started, you know that the team really evolves as you see who you like working with. You know, we did a deal. I’m not going to say where because we’re easy to figure out who’s in it, but we did a deal not that long ago, and one of the guys makes me absolutely want to shoot myself in the head, and I’m never doing another deal with them, although it was a great deal.
00;05;23;10 – 00;05;40;25
Speaker 1
But but that’s a very common dynamic, guys. If you listening as you made you know and and you should you should date before you get married anyway you do it you do a deal or two together you you kind of see how it goes and and see if you want to go to go long term. It’s the people that are super blessed and lucky that find their long term partner right out of the gate.
00;05;40;28 – 00;05;59;04
Speaker 1
But by the way, on that note, if you’re thinking of getting into a partnership, I’ve got a great free resource. It’s a list of questions you should ask before you get in a partnership. Just go to rods link scheme rods plural links product comments in the free book section Free book section. There. But anyway, so the 230 unit I’m assuming, I’m guessing I don’t have to guess.
00;05;59;04 – 00;06;02;02
Speaker 1
I’m certain that was a syndication. Yes. So you raised money for that deal?
00;06;02;07 – 00;06;07;06
Speaker 2
That’s correct. Okay. Going to more experience team help out raising equity into the deal, correct?
00;06;07;09 – 00;06;26;22
Speaker 1
Oh, so okay. So you aligned with a team that that had already done some deals and that’s another way to get started as well, especially into the larger deals. And you can use their resume to, you know, go out and make make introductions to brokers and build relationships. Okay. And so you raised equity for that deal and of course, you helped underwrite it, I’m sure, as well, and so on and so forth.
00;06;26;22 – 00;06;27;24
Speaker 2
Yes, Correct.
00;06;27;27 – 00;06;40;26
Speaker 1
That epiphany was really when you talk to that single family investor that was getting into multifamily, I love to ask you know, tell talk about an epiphany or an aha moment that was really that. That was really the big one. You’re like, If this kid can do it, why can’t I do it? Yes.
00;06;40;28 – 00;07;06;13
Speaker 2
Exactly. And you said this on your show many times. But, you know, I think a lot of people are trained to start small or, you know, think small and start small, think conservatively and and that’s fine. But I think, you know, as society, we’re kind of trained to be like that. So, you know, like most people when I was starting now and I wanted to, you know, invest in real estate, the first thing I thought of was go buy a fix and flip.
00;07;06;21 – 00;07;25;06
Speaker 2
That’s exactly what I did. I had no idea you could, you know, partner with people, raise money from investors to go out and buy properties that are more efficient and have more kind of scale. You know, at the time, I had no idea you could do that. So that really kind of just, you know, speaks to you really had to get outside your comfort zone and do more research.
00;07;25;11 – 00;07;45;13
Speaker 1
And and, you know, getting in the right environment is huge as well. Now, I have some questions around that. You mentioned before we started recording, you know, somebody the judge just joined my Warrior program. You have a friend and you know, I’ll brag for a minute. I know they now own over 180,000 units where accounting and I’ve only been teaching a little over five years, some I’m super proud of.
00;07;45;13 – 00;08;16;01
Speaker 1
And and most of those deals are done between warriors. You know, they’re done in eternally like that. And and so how did you. Well, first of all, let’s go back a minute. You did underwriting for a bridge lender where did you get that experience? Did they teach you or I mean, I know you’ve got some finance background, but still to underwrite multifamily deals, especially for a large bridge lender, how did you how did you educate yourself in that environment to start with?
00;08;16;03 – 00;08;44;02
Speaker 2
Yeah, great question. So I did take some real estate related classes in business school, which kind of gave me like a really good foundation of the terms and just, you know, my little topics about commercial, real estate. But I would say the majority of that was, you know, learned through working at the bank, working with other credit analysts that were more experienced than me and kind of just, you know, learning from them and how to underwrite deals.
00;08;44;02 – 00;09;08;19
Speaker 2
So a lot of a lot of that definitely. And also self-education. So, you know, listening to podcasts like this, watching videos on YouTube, you know, taking different courses of financial modeling, real estate modeling, there are some courses out there like that as well. So a lot of it was, you know, learn at the bank, but definitely, you know, many hours of self education as well because working on the banking side is great.
00;09;08;21 – 00;09;21;10
Speaker 2
But now that I’m like more on the investor perspective, it is very similar but also extremely different when you’re underwriting deals as a syndication and looking at it, you know what, what you’re going to give to investors.
00;09;21;12 – 00;09;43;20
Speaker 1
Yeah, yeah, yeah. It’s all about the returns and keeping your investors interest at forefront in the forefront of your mind. And so, so so so so you did the underwriting at the bridge lender but how did you push through to actually do some of your own deals? Did you align with somebody to do your first one or two deals or do you did it on your own?
00;09;43;25 – 00;09;50;23
Speaker 1
So talk about your first multifamily deal. That was not a six unit. It was larger, you know, something bigger. Yeah.
00;09;50;23 – 00;10;16;00
Speaker 2
Other than the 236 that we mentioned, I’d say like I was the lead sponsor on my first deal of a two property portfolio here in Annapolis, one being a 33 unit and a 48 unit. We found those deals like right after I left the banking zone. So that was like the first kind of, you know, real experience as the lead sponsor and, you know, starting with one of the local general partner to take down this to property portfolio.
00;10;16;05 – 00;10;22;24
Speaker 1
So you just did it. You didn’t you didn’t you know, it wasn’t leaning on somebody else. You just went out there and like Nike says, just do it. You just did it.
00;10;22;24 – 00;10;45;04
Speaker 2
So I was I was working at at the bank. And, you know, as an underwriter, you see everything. So you see the sponsors, tax returns, balance sheets and, you know, income statements. And while it was great experience, you know, I kind of realized I was on like the wrong side of the equation. I wasn’t going to get that sort of net worth by working two jobs.
00;10;45;04 – 00;10;47;09
Speaker 2
I knew I didn’t want to do it forever.
00;10;47;12 – 00;11;09;16
Speaker 1
Yeah, yeah, yeah. That’s that’s what what an incredible insight and leverage you have by seeing what, you know, balance sheets for these guys that, you know, have tens of millions of dollars in net worth because they’re buying real estate and. Yeah, love it. So how did you you know you’re very very analytical guy and I know you’re fairly introverted.
00;11;09;16 – 00;11;28;27
Speaker 1
You indicated that. And I will tell you, I the introverted people I think are probably some of the most successful in this business for a lot of reasons. First of all, they have more meaningful relationships because unlike me, who’s looking over people’s shoulders to try to get on to the next thing because I’m so impatient, you actually hone in on someone and give them your full attention.
00;11;28;29 – 00;11;50;18
Speaker 1
And people really appreciate that. But you know, there’s also a couple other pieces when you’re introverted. One is typically you have to check off every single box before you make a move, and then you’ll never make a move. And many people get caught in analysis paralysis because of the fear, fear of failure, whatever. How did you push through all of that to to take massive action like you’ve obviously done?
00;11;50;22 – 00;12;13;11
Speaker 2
Yeah. I just think if you are not putting yourself in uncomfortable situations, then you are not going to grow in. You’re probably staying the same or getting worse. So, you know, just putting yourself outside your comfort zone, doing things you don’t like to do. So like for me, I don’t like speaking in front of people, but I host a multifamily meetup every month here in Annapolis.
00;12;13;11 – 00;12;35;21
Speaker 2
Oh, so I do a presentation in front of everybody that shows up every month. That’s something that I’ve had to, you know, force myself to do, but I’m growing at the same time. I’m meeting investors, I’m meeting partners, I’m getting a great reputation for my own company in the city. So I really do feel like, you know, the more you push yourself outside your comfort zone, you’re going to continue growing.
00;12;35;21 – 00;12;53;10
Speaker 1
No question, just like you are by being here. And and I know you reached out to us to get on the show, and it’s kind of unusual that I’m doing this on Zoom. I just typically we have people come here in person. It’s unfortunate we weren’t able to do that this time, but maybe next time when you’ve got 4000 doors, huh?
00;12;53;11 – 00;13;16;12
Speaker 1
Right. Which shouldn’t be too long. But anyway, so tell me, what excites you about. Well, actually, you know what I want to talk about Bridget. At first we kind of alluded to it before we started recording. There are a lot of people in trouble with Bridget right now. I just heard about it, a huge operator that I have so much respect for that has a place in foreclosure in Houston.
00;13;16;15 – 00;13;18;29
Speaker 1
What are your thoughts on what’s going on right now?
00;13;19;01 – 00;13;43;20
Speaker 2
I think it’s unfortunate. It’s it’s unfortunate, but I think it was kind of bound to happen, which is how inflated the prices have been and in certain areas and certain markets and how low cap rates properties were bought at a very unfortunate and I feel bad for a lot lot investors losing their equity and sponsors getting their reputation hurt.
00;13;43;22 – 00;14;01;15
Speaker 2
So it’s you know, a lot of people are hurting. You know, fortunately we have we have fixed rate debt on every property in our portfolio. So the interest rate environment has made deals, you know, future deals more difficult to pencil out. But all their properties, you know, thankfully, are are still you know, people are in cash and making distributions now.
00;14;01;15 – 00;14;07;00
Speaker 1
That’s nice. Yeah. You know, I would let me ask you this question. When did you leave the bridge lender?
00;14;07;00 – 00;14;08;27
Speaker 2
What year was 20, 21.
00;14;08;29 – 00;14;33;15
Speaker 1
Or 21. Okay. Okay. So so you’re right around COVID. Would you agree with this statement that a lot of operators these last few years have used bridge debt just to get the higher loan to value and higher return pro forma of pro forma returns to entice investors? You know, when Fannie and Freddie had reduced their loan to value and really that’s not really what bridge that’s for.
00;14;33;15 – 00;14;39;06
Speaker 1
It’s to bridge the gap between a non-performing asset and a performing asset. Would you agree with that statement that I just made?
00;14;39;10 – 00;15;14;04
Speaker 2
Good. Yeah, it was the debt was so attractive to sponsors because it was so cheap, right? I mean, it was so cheap. Appreciation was so crazy. You could buy, you know, a, you know, a property with basically, you know, almost free money, you know, in the two or 3% range. So that’s obviously really attractive. You can get a lot of deals that pencil out and with the appreciation and properties basically flipping like like houses, you know, selling in 12 months or 15 months with little or no value at done and just that crazy appreciation.
00;15;14;07 – 00;15;16;25
Speaker 2
Yeah, it’s definitely a crazy time.
00;15;16;28 – 00;15;36;22
Speaker 1
Yeah. Yeah. I think irrational exuberance is what I would call it, but, but the piper is being paid right now. Like I said, I know so many operators that are struggling and I luckily in my warrior group, I only have one deal that’s in trouble. I mean, there are some other deals that they’re managing. It will be okay.
00;15;36;22 – 00;15;59;19
Speaker 1
The one I don’t think there’s going to make it, which is really upsetting to me, but it’s a long story. But, you know, they they waited too long to reach out to me for help, but I know a lot of people in trouble. So what excites you about today’s market and maybe what scares you if you answer both both sides of that, if anything?
00;15;59;22 – 00;16;22;17
Speaker 2
Yeah. What excites me is, you know, I still think that now is an awesome time to buy multifamily property. There is still a lot of data showing, you know, why multifamily is and will be a strong asset in the future. You know, houses are continuously becoming more and more expensive, which, you know, I personally believe is going to encourage more people to rent.
00;16;22;20 – 00;16;49;20
Speaker 2
It’s already been proven that millennials prefer to rent. You know, I think like anybody getting, you know, fresh out of college or like any like it the younger generation, they don’t really necessarily want to go in and buy a house right out of college. I think people like that for the longer term are going to stick to renting and only buy a house when they’re really settled down and wanting to stay somewhere long term, which could be, you know, in the late, late thirties at that.
00;16;49;20 – 00;17;13;23
Speaker 2
So I’m still really bullish on multifamily. Even with interest rates being high, I still think it’s a fantastic time to buy multifamily reason being is, you know, if you think things are expensive now, I mean, just wait until interest rates gradually come down again, you know, as the cost of capital decreases, there’s going to be, you know, more competition in the market.
00;17;14;00 – 00;17;42;22
Speaker 2
Your purchase price is going to be higher because borrowers can afford to pay more. So I personally think like now is still a fantastic time to buy multifamily even in this interest rate environment. What scares me is just the the news in the media. And when investors hear things like that, you know how properties are going under foreclosure or this probably didn’t work out well or interest rates are high, stay away from real estate.
00;17;42;25 – 00;18;01;22
Speaker 2
I think like when the headlines come out like that, it just puts like a bad rap on multifamily and investing. It gets investors scared, which in turn, you know, operators like us, it makes it more difficult to attract investors into our deals and raise capital, which could, you know, are hurt or hurt our business in the end.
00;18;01;24 – 00;18;29;21
Speaker 1
Oh, and I will tell you, we’ve got a deal right now under contract in San Antonio that was under contract for 26 million. That contract fell through for some SEC reasons and another one at 24 million, and we’re getting it for 20. So, you know, basically a 30% discount screamin deal. And by the way, if you’re listening and and you’re want to invest passively, go to the free cash flow.
00;18;29;21 – 00;18;52;13
Speaker 1
Clubcard See CREB cash flow Clubcard, I think you can text the word club to seven two, three, four or five. We’ve created this resource with all these different educational resources there videos, books, articles, emails, this, all sorts of great stuff to learn. And you know, you get there, you’ll hear about that deal first once we start putting it out there because it’s just a screaming deal.
00;18;52;15 – 00;19;10;18
Speaker 1
But, you know, I do you look at this environment as an opportunity. I mean, I know you say it’s negative because, you know, these operators are losing deals and I feel bad for them as well. But I lost $50 million in 2008 nine and I recovered. So, I mean, these guys will recover as well. But do you see opportunity in this current environment?
00;19;10;25 – 00;19;36;09
Speaker 2
Yeah, I do. I think there’s going to be a lot of awesome opportunity buying properties that are distressed and picking up properties that are serious discount like the one you’re buying now. So, you know, we’re, you know, personally like our company is not going to be buying distressed properties or properties. 50% occupied and things like that. We very much look for properties that are stable, cash, clean day one that have some like the medium value component.
00;19;36;11 – 00;19;52;19
Speaker 2
But yeah, for sure there’s going to be properties out there that are distressed, struggling properties that have to sell because they can’t refinance out of their short term debt. They basically have to sell at a loss. Absolutely. There’s going to be some fantastic opportunity out there for people.
00;19;52;21 – 00;20;12;26
Speaker 1
Yeah, this this one, just so you know, it’s an A, B area. We own an asset a mile away, 296 unit asset a mile away. This is a 200 unit asset. Larger units, fireplaces, washer dryer, hookups on a lake. I mean, it’s just an extraordinary deal. And we’re assuming low interest debt long term, still got a year and a half interest only on it.
00;20;12;28 – 00;20;32;26
Speaker 1
I mean, it’s just a great, great deal. But I don’t particularly like C assets. There’s there’s about, as I would say, A C plus demographic B minus C plus demographic. In this asset, we’re going to have to raise the tenant demographic for sure. But but yeah, I don’t like by the way, I don’t like 50% occupied deals either.
00;20;32;26 – 00;20;50;18
Speaker 1
This, this one has some vacancy, but it’s not anywhere near that bad. Yeah. And you know, we’ve got an extraordinary management company there. So every all the, all the check boxes are being marked. I was just literally there yesterday doing due diligence yesterday and the day before. That’s why it’s fresh on my mind. But so so let me ask you this.
00;20;50;20 – 00;20;56;22
Speaker 1
What motivates you, brother? What inspires you? What what what has caused you to go kick ass in this business? Yeah.
00;20;56;22 – 00;21;14;29
Speaker 2
For me, it’s it’s time freedom. It’s being able to have passive income and do exactly what you want when you want and not having to. You, you know, work a W-2 job your entire life and absolutely nothing wrong with that, depending on what you want to do in your goals. But for me, it’s just about it’s about time.
00;21;14;29 – 00;21;37;08
Speaker 2
Freedom now, you know, being on the general partnership side, it’s definitely, you know, not as passive as being a limited partner, but, you know, I think you can agree with this as well. You know, I love what I do. It’s a really fun business to be in. You know, it’s different every day. So what motivates me is just, you know, always striving to be be better and just working towards, you know, having an ultimate, you know, time, freedom.
00;21;37;15 – 00;21;52;23
Speaker 1
I think that’s what everybody wants. You know, they want to have a life. They want to be able to travel. I’m going out of the country. And then tomorrow, really and and know it’s just a beautiful thing. Let’s start, you know, for me, looking through life, looking at life through a lifestyle filter. So let me ask you this.
00;21;52;26 – 00;22;01;18
Speaker 1
What’s some of the best advice you’ve ever received? And it can be relating to real estate, to business, to relationship, to whatever. What’s some of the best advice you think you’ve ever received?
00;22;01;23 – 00;22;27;09
Speaker 2
Yeah, the best advice I would say is, you know, like learning to ask for help when you need it, whether that’s a coach, a mentor, a more experienced investor than you, you know, if you need a certain partner on a deal, I think just like reaching out for help, realizing that you don’t know everything. Realizing that multifamily is 100% a team sport.
00;22;27;12 – 00;22;35;23
Speaker 2
So reaching out for help when when you need it and you know, don’t act like you can know everything or do everything by yourself.
00;22;35;24 – 00;22;50;20
Speaker 1
Great answer. Great answer. So besides that answer, you know, I have a lot of aspiring real estate investors that listen to this show and you know, what suggestions do you have for someone starting out in real estate investing, you know, knowing what you know now?
00;22;50;21 – 00;23;12;23
Speaker 2
Great question. So for me, it would be creating a personal brand, which I think is just absolutely critical. You know, there’s a ton of investors out there. There’s a ton of people that do exactly what I’m doing, but I’m really active on social media. I’m doing things to get my name and my brand out there. So like I mentioned, I have a multifamily meet up.
00;23;12;25 – 00;23;33;07
Speaker 2
I have a thought leadership platform on LinkedIn that I post on every day, you know, just doing things to make people aware of who you are, what you’re doing, and most of all be be consistent. So whether that’s a podcast, YouTube channel, a meet up, do things to, you know, get your name and your brand out there.
00;23;33;09 – 00;23;49;12
Speaker 1
Yeah, yeah. That’s, I mean, we live in the greatest time on earth for that. I was social media. I mean, my podcast had 20 million downloads and Facebook group with 50,000 people in it. I mean, it’s the largest in the world. It’s like crazy, you know, what you’re capable of doing and you don’t need those kinds of numbers.
00;23;49;12 – 00;24;04;26
Speaker 1
I mean, like you do a meet up. I mean, I will tell you before social media, some of these people I’ve had on my show that have five, seven, 10,000 doors, they all started with real estate investor club meetings are now called meet ups. You know and they they’d raise money they’re like you’re doing and add value the key there’s two keys like you just said.
00;24;04;26 – 00;24;22;11
Speaker 1
The first is consistency. The second is you got to add value. You add value and you’re consistent. You only need 100 people, 200 people, and you’re able to make things happen, find deals, raise money, all of that. And, you know, like I say, we live in the greatest time on Earth, so pick what you like. So you like LinkedIn, Do you do video there?
00;24;22;11 – 00;24;25;15
Speaker 1
Just are articles or all the above, really.
00;24;25;15 – 00;24;31;13
Speaker 2
Just text posts. But yeah, really LinkedIn and Facebook is like my, my strong spot.
00;24;31;14 – 00;24;54;10
Speaker 1
Yeah. And, and, and there’s others as well. I mean, Instagram is fantastic. So is, so is. I haven’t really done well with Tik Tok. I mean I’ve got a pretty good following there but haven’t really got a lot of business from there but Instagram certainly the podcast, certainly meetup groups, my Warriors probably have, probably I’m certain that, but actually they have about 30 meetups around the country, maybe even more than that.
00;24;54;12 – 00;25;07;04
Speaker 1
I’ve got several dozen podcasters in my warrior group, you know, and you know, they all create that reach. Yeah, I love it. So what would you say is the most challenging part of your role in what you’re doing now?
00;25;07;08 – 00;25;10;00
Speaker 2
This strictly like on a realization occasion.
00;25;10;03 – 00;25;22;14
Speaker 1
Yeah. At least most challenging. Yeah, Least favorite. Most challenging. I want to ask you what your favorite is as well, but let’s start with the with the negative and end with the positive. So what’s your least favorite and or most challenging piece of what you’re doing now?
00;25;22;15 – 00;25;45;08
Speaker 2
Yeah, most challenging is probably raising capital. It’s, you know, getting out there and getting your brand known and just getting investors to know like and trust you, which, you know, as you know, does not happen overnight, especially when you’re when you’re starting out from from zero doors and trying to build, you know, rapid growth out of my company and get people to know they can trust you, you know, definitely does not happen overnight.
00;25;45;08 – 00;25;54;06
Speaker 2
It takes a lot of consistency, like we mentioned, a lot of dedication and, you know, doing things to, you know, prove to investors that you’re the right person to invest with.
00;25;54;08 – 00;26;10;23
Speaker 1
Yeah. And and to push them through the fear of investing right now. I frankly think it’s a fantastic time to invest right now. And but but as you know, it requires a lot of hand-holding right now because of because of the media and God, you don’t even know what to trust anymore with African media. Don’t get me started.
00;26;10;23 – 00;26;15;18
Speaker 1
There. But so you’re in Indianapolis. Are you in any other markets or is that just there?
00;26;15;20 – 00;26;18;24
Speaker 2
Annapolis and Louisville, Kentucky, which is just to Louisville south.
00;26;18;24 – 00;26;34;25
Speaker 1
But okay, I like it. I was in Lexington. I had an asset in Lexington. We sold it. Really nice asset there, but we felt it was a little shaky there. It was an absorption issue there. Some other well, no, it wasn’t absorption. It was just the multifamily market was a little shaky. But I’ve heard great things about Louisville.
00;26;34;27 – 00;26;36;27
Speaker 1
Yeah. So what’s next for you, brother?
00;26;36;29 – 00;26;59;23
Speaker 2
Yeah, What’s next for me? It’s just continuing to grow my company. I’m really looking to scale my business and continue growing here in the Midwest. Really bullish on A and B class assets. You know, like you mentioned earlier, the C class is just getting older and older. And while, you know, there’s still awesome opportunities out there, you know, for me, I think it just makes more sense to focus on B and A class asset.
00;26;59;23 – 00;27;05;07
Speaker 2
So moving forward, really bullish on those types and getting into multifamily ground up development.
00;27;05;10 – 00;27;25;03
Speaker 1
Love it. Yeah, I will tell you, I don’t want C class unless it’s in a Bay Area and I can upgrade it because that demographics getting killed. Inflation is insane and it’s not going away. You know, I don’t care what they say. It’s going to continue and the value of the dollar keeps plummeting. You know, I fill up my truck and it’s like $120.
00;27;25;03 – 00;27;42;11
Speaker 1
Are you freaking kidding me? You know? And of course, I’m old. I remember when gas was $0.24 a gallon. I’m not exaggerating. And I mean, it’s just insane what it is now. And I went to the grocery store. I tell the story and I because I’m single now, I’m and you know, some do now grocery shopping. Me. Are you fucking kidding me?
00;27;42;16 – 00;27;58;29
Speaker 1
That’s all I get for that amount of money. Are you in know so I don’t know how people do it, man. So yeah, C class and definitely not D but C even is just they’re getting hammered and it’s just to me, it’s dangerous, you know? Much as I hate to say it, it just is, but. Well, listen, brother, I appreciate you coming on the show.
00;27;58;29 – 00;28;12;11
Speaker 1
You’ve added tremendous value. It’s great to meet you. Hopefully. You know, I appreciate you saying kind words about my podcast and when before we started. And, you know, it’s great to meet you and I’m sure you’re going to be just you. You’re just going to continue to kill it.
00;28;12;11 – 00;28;14;05
Speaker 2
And thanks for having me. I appreciate it.
00;28;14;07 – 00;28;15;09
Speaker 1
All right, buddy. Take care.
