Multifamily Live

We all have Goals, Aspirations, Desires and sometimes that can cloud our judgments and behaviors. In this episode, we dive in and look at creating goals with the next step in mind.   Thank you so much for listening! WE ARE SO GRATEFUL!!!! Our Sponsor:  Multifamily Foundation If you are serious about learning how to buy apartment buildings then don’t wait, go to www.multifamilyfoundation.com and let us help you build your foundation. Investing for Lifestyle and Legacy: https://www.yarusiholdings.com/ Our ENTIRE Podcast, Books and Health Suggestions: https://www.amazon.com/shop/yarusiholdings Subscribe To Us On YouTube: https://www.youtube.com/channel/UC1SuXB01d14DC8ZnEWpRQdQ?sub_confi rmation=1 Subscribe To Us on #Libsyn: http://multifamilyfoundation.libsyn.com/website Subscribe To Us on iTunes: https://podcasts.apple.com/us/podcast/the-multifamily-foundation/id1484177595 Hosted on Acast. See acast.com/privacy for more information.

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Scott Krone Mr. Krone is a Chicago native whose career in architecture began in 1991 by pursuing his Masters of Architecture from the Illinois Institute of Technology.  While obtaining his degree, he also worked as a Project Manager for Optima, Inc.  During his time at Optima, Krone’s responsibilities included such notable projects as the 400 unit Cormandel in Deerfield, IL, the 40 unit HedgeRow in Winnetka, IL, and the 51 unit Optima Center Wilmette in Wilmette, IL. In 2012, Krone founded Coda Management Group – a firm who specializes in managing real estate assets.  Since its inception, Coda has manages a wide range of real estate including single and multi-family homes, retail, commercial warehouse and self-storage and multi-use flex athletic spaces.  Currently, the platform of investments is in excess of $55 million. In 1998, Krone founded Coda, an award winning Design + Build | Sustainability | Consulting firm.  Since its inception, Coda has won numerous design/build awards including the international Green GOOD Design Award in 2010, Best of Houzz 2014 and 2015, and Design Evanston Award.  Their work has been featured in notable publications as Dream Homes - Chicago, Midwest Luxury Homes, Crate & Barrel 2010 Best Catalogs, NBC TV Show Taste, and national ACE Hardware Commercials.   In addition, Krone has authored High Performance Homes – Navigating the Green Road to Your Dream Home, a book for homeowner’s seeking to incorporate green technology into their home. Krone resides in Wilmette, IL, with his wife and three children. hank you so much for listening! WE ARE SO GRATEFUL!!!! Our Sponsor:  Multifamily Foundation If you are serious about learning how to buy apartment buildings then don’t wait, go to www.multifamilyfoundation.com and let us help you build your foundation. Investing for Lifestyle and Legacy: https://www.yarusiholdings.com/ Our ENTIRE Podcast, Books and Health Suggestions: https://www.amazon.com/shop/yarusiholdings Subscribe To Us On YouTube: https://www.youtube.com/channel/UC1SuXB01d14DC8ZnEWpRQdQ?sub_confi rmation=1 Subscribe To Us on #Libsyn: http://multifamilyfoundation.libsyn.com/website Subscribe To Us on iTunes: https://podcasts.apple.com/us/podcast/the-multifamily-foundation/id1484177595 Transcription:  Hello, again, welcome back to the Jason and Pili project. Super excited for today's show. Really going to talk about some topics that are really viable to what's actually happened today. A space that's super great for everything that's happening during Covid. If you listened to that time, when you have Scotty Krone on the show.   Hey Scott, how you doing? I'm doing well. Thanks for having us. I appreciate the opportunity. Well, thank you so much for coming on the show and a little bit more about Scott. He's. The founder of Coda Management Group, teamed up with investors to purchase strategically located undervalued warehouse space and convert it into climate controlled self storage facilities that are managed by a top three operator. So a little bit more, he's done 47 syndications over 400,000 square feet of property, 2,759 storage units currently under management and 25 years to develop and design build experience. So Scott, thanks so much for coming on. I see that you are actually converting warehouse space into climate control itself storage. Was that intended or was there a certain time when you were doing these syndications and it looks like you were in residential and a couple other points where this just fell into your lap and you, and you did it without knowing really the after effect and all of a sudden it became your business plan.   Uh, it's something that's certainly developed. I began in multifamily and that's predominantly where the syndication began when I was working for other people. And, um, you know, the first project, which was my master's was a 400 unit, all Thai multi D uh, family development. So we had condominiums, we had townhomes, we had single family homes and it was on 50 acres and it was a, it was a ground up development. And I worked for them for six years and, you know, each, each and every one that we did was along those lines. And so when I started Coda, we began in single family and then we got into multifamily, got into mixed use. Um, we were also have done five churches we've, um, just on a lot of different things. And then the crash came in 2008 and 2009. And that whole market on the residential side completely dried up and everyone was going into apartments.   And because that's the only thing that banks were lending out at that point in time, whereas we're apartments, we did buy some apartments and, but there was a tremendous cap compression and it was very competitive. And so we had one client who wanted us to find him a distressed self storage facility. And I couldn't find it. I was looking all over and nothing was quote unquote distressed. And this is like in the heart of the, the, you know, the, the previous recession. And there was absolutely nothing that was truly fit the qualifications and distress. And I was like, this is an amazing product. And that's where I began learning about it. And we actually had a warehouse where we were going to convert it into another use for our client. And we officially got the nonverbal verbal approval from a mayor. And then three months later she had a change of heart.   And, um, so now we were hard on a contract, had this warehouse and I called up my client and said, you know, if you really want to get into self storage and make money development is the way to do it rather than trying to retrade on, you know, moving from a nine cap to an eight and a half cap. You're not going to see a lot of appreciation there. If I said, you know, we have this warehouse, let us know if you think it's a good location. If it fits the economics of what you're trying to do. And they came and looked at it, they said it meets all the things that we need. We need it to be, but we don't have anybody to develop it for us. So we did that, and that was our, that's how we got into self storage.   Wow. So the lots that we could unravel there, and if you look at that today, what makes the conversion process that much more buyable than the ground up in terms of being able to maximize space? Is there a certain size of product that you have to be into to make this make sense? Is there a certain number of units that you have to get out of? It is there, and is it location savvy compared to, you know, being close to the city or being out in the suburbs that you're trying to focus on?   Well, it's very location specific. It's within a three mile radius. That's, that's what we're looking for. So when we're converting, we're looking at class a, so within class a, um, that is the type of thing that is conducive to more of an urban setting. Um, one, because that's, you have density too, you have a larger building. Um, I haven't seen any conversions in a rural or suburban market for a class, a type facility. So it's predominantly only in urban areas that we're doing this. So we're, we're focusing on the Midwest. So we have Wisconsin, Illinois, um, Ohio, and we just went to contract on one in Kentucky. So that's the market that we're focusing on. And because there's, there's unmet demand in those markets, that's why we're going after these products, after these buildings. And the reason why we're doing conversions is one we're buying these buildings somewhere between like 11 and $13 a square foot.   So the replacement costs, I can't buy the property and build these buildings for that price. Um, the other thing is they, the buildings that we have been buying lend themselves well to the layout of self storage. So they're predominantly rectangular in nature, a very common column line. Um, the one that we bought in Dayton did not lend itself to multifamily, which is why it was not converted. If the building was sitting vacant, we came in, we had the zoning, as of right, we had an existing building. And so to buy the land, have the building and have the zoning, um, for, you know, these for $11 a square foot, it's a no brainer for us at that point in time.   Yeah, absolutely. And so is there a size of building that you're always looking for, that you won't look for something smaller than X number of square feet or a certain number of units to get out of the space?   Yeah, we're, we're looking between like, you know, 8,200 and 1,000 and 20,000 square feet. The building that we bought, we haven't bought yet. So the building that we're under contract for in Lowville is actually close to 140,000 square feet. The market does not demand 140,000 square feet of self storage, but there's existing tenants. And so we have a rent roll already. So we're going to have a combination of flex warehouse space and then also self storage. And so we're going to be converting a portion of the building into self storage and then   Maintaining the existing tenants. Okay. What are some of the metrics that you're looking forward to, to show that the market is, um, not meeting demand?   Well, first we look at is the population growing or is it decreasing what is happening with it? So in each of the buildings that we bought, so the last three Toledo date, and now the one we're under contract for it in Louisville, we're seeing a tremendous amount of development right around what's going on, so that that's always encouraging to us. So there's like 3,500 rental units coming online and local, right. Within two miles of our building. So for those of the site, I should say, so that's, that's exciting for us that we're seeing continued growth in there. The second thing that we're looking for is what is the market saturation? How much lockers per square foot per capita is in the marketplace in context of the overall. And then we look at, is there unmet demand? And so in each of those cases, you know, the PR our competition is like 90% leased up.   We're well below the saturation level for our product type. And then we look at pricing and, you know, are they getting good, strong pricing and what's been happening with the pricing. So that's one of the things that we've really like about self-storage compared to when I was in multifamily, when I was working for a top 20 developer in the country, you know, there wasn't feasibility studies out there. It was just like, if you build it, they will come. Right. And, you know, we're doing a lot more due diligence now than what I was doing when I first started. I mean, we were doing, it was a hundred million dollar project, you know, it was like three or 400 units. I mean, that's a tremendous amount of change to a community, right. And we didn't have a feasibility study to say like, is there going to be a demand for 400 people to come in and buy these condominiums anywhere from 100,000 to half a million dollars? Wow. You know, and so, you know, for, for us, we have a market study that says, is someone going to rent a locker for a hundred dollars? Or, you know, is it, are they going to rent it for $25? So we know exactly what the market is going into the product.   So thinking about what's happened today with COVID, you're where you're going to see a lot of space open up within, you know, retail and some of these other places to have, unfortunately, just aren't going to have the power to come back, potentially, maybe warehouse stay strong. You know, we started seeing a lot of, uh, shipping, maybe some, some, some of business come back, you know, from overseas that, that start being made here for certain reasons. Do you, are you, is this, now, is this making you bullish again on the industry? Cause there's going to be more opportunities that you could find space in predominantly maybe areas that were oversaturated with retail and office space that maybe you can use for this conversion process.   Well, there's two points to that. The first is, you know, we've studied the last four recessions and based upon the gray hair that I have, you know, that I've been through a couple of these recessions before. So, um, maybe that's wisdom, maybe it's, I don't know, old age, I'm like, my kids tend to say it's moral day than wisdom, but yeah. Yeah. We've, we've gone back and looked at the recessions in the past and, and each of the recession's self storage has either held or gone down like one or 2% and then rebounded very quickly. So they're not recessionary proof, but they're certainly recessionary resistant. So they they're, they're holding their market. In fact, the greatest, the lowest cap compression that we saw was when extra space bought up a portfolio of a billion dollars and it was at a four and a half cap, and that was at the last recession.   So they do well in a downturn, which is why we've gotten, we were bullish on self storage before the recession because of the fact of how they resist the, the re they're not as, you know, they don't vary as much within the recessionary market as other products. Um, people would argue that multifamily that they're expecting to surge within multifamily. I don't know. It's all gonna depend upon what the lending capacity is going to be. Certainly hospitality, retail. It's no, it's a no brainer. These things I've been hit and hit hard. So there is going to be a change. What we did see in the last recession is to the communities that needed something to be built, were willing to rezone the communities that we're not, we're going to hold fast to the fact that they weren't going to change the zoning. So there could be a big box that would be prime for self storage, but if we can't get the zoning, then it's not, it's not going to happen. And that's where you will see the pressure, you know, because obviously the is losing tax dollars tax revenue, but they want the sales tax in self storage or not, there's very little sales tax. So they want to keep those products on there. And who knows what if communities are gonna allow it to be rezoned to self storage.   Interesting. Yeah, that's actually a great point. Right? So if the community is looking to find out where to come back, they're going to push out across cause really the tax dollars that makes up what's happening in the, in the, in the area. Is there a reason that you focus a lot on middle, middle America States and you know, w we invest in so many States, you know, we're in Louisville is in terms of, um, focusing on some of the other States that might have a, um, a bigger flight to them, like the, the Florida's or the North Carolina or South Carolina. Is there a reason that you, you stay location specific in the States that around you,   There is. I mean, it's, it's, it's based on saturation. We've had plenty of people call us up and say, Hey, I want to do self storage in my town. There's no self storage. And I'll ask them where they live and I type it in, and there's like 18 facilities, like within two miles of where they live and, you know, they're, they're oblivious to it, right? So along the East coast, the South, the West coast, the saturation is that it, you know, we're supply equals demand is typically around seven square feet per locker. And the salvage is actually nine because of the fact that there's so much self storage and there's so much demand. So we have avoided those areas because the competition is incredible. But more importantly, if we can go into a market, you know, date and check the one, we just, we just opened up in Chicago when we bought it, it was two.   So there's plenty of, there's plenty of demand that we can meet. Um, each of the ones that we bought Toledo, Dayton and Louisville have all been under four. So there'll be between two and three and a half. And so we know that there's, there's a lot of margin for us to meet in there. Wow. Interesting. When you're doing your build out, do you look at a certain per square foot number that you have to come in for your construction costs to make this, or is there, is there a range or how do you look at it from that site? And that has a lot to do with the condition of the building, and then we back into what we can pay for it. So the building in Lowville that we're under contract for, it is very aggressive pricing because of the fact we have to do so much for, to the building.   We're actually going to be spending a lot more per square foot on Louisville than the other buildings. Um, just because of the fact that we have mixed use and it is larger. So we, we always base the purchase price based upon what it's going to cost to get us to the place where we need to break even and make money. Was there a pinnacle point here? You talked a little bit about, you know, moving on from, multi-family just completely shutting off the point. Um, but was there a pinnacle moment or something that you, you talked about, the conversion that you had with, uh, the partner or the person who was looking for space, um, was there a moment that you said I will no longer do residential or any, any kind of play with multi-image strictly just going to go all in, uh, with self storage, there was, there was two points.   The first was when we sold our multifamily, you can accuse me of a lot of things, but, you know, being the smartest guy in the room is you're, you're not going to accuse me of that one. So, um, you know, I, but I do watch what's happening in the marketplace. And so when the, the crash came in the last crash, the last two crashes, Oh one and Oh eight and Oh nine, we weren't sitting on a lot of property because I stopped buying because I was listening. And I think that's the key thing within the marketplaces. I was listening and paying attention to what the market was saying. I wasn't trying to force the market. And so I stopped buying in Oh one, I stopped buying in Oh eight and I was, I was selling and, you know, I was being criticized by my competition for selling my properties too low, to undercut them.   I'm like, look, I'm in cash, I'm out. You know, I don't want to be holding it because I'm not comfortable with what's going on. So when I saw that, you know, the cap compression for our apartments was lower than what I expected. That's when I began selling my, my apartment. I'm like, I'm just out or done now, did I time it perfectly? I don't know. You know, perhaps it's gonna do a little bit better now, but I'm also out, you know, I don't have to worry about if I'm gonna make a half point or a point better or worse, you know, that's, that's my philosophy. So we're in real estate, everything's for sale at the right price. So if I, if I feel that the market's going to be turning, then I will liquidate the other indicator for us was we, we were doing a spec house in when, uh, in the North shore was not in one actor, but in the North shore of Chicago.   And we had originally projected it to be like 1,000,050. And this was, you know, right. You know, we were right around the election time and the, the market opened up and we weren't quite done, but in January, like three homes all sold for like over a million dollars comparable to us. And then the rest of the year, nothing sold the new construction. And this, this is a brand new house. We pick it up for two 35, you know, we thought this was this, not a home run, but you know, a triple double for sure. Good deal. And we, we sat on that for a year. We had to rent it out and then we then sold it at breakeven. So we cut the price by over 20% in order to sell this thing just to get out. And so that was the next thing is like, there were so much fluctuation in the single family market that was like, there's too much risk.   So when I, when I'm evaluating risk, those are the things I'm looking for is like, what's the volatility, you know, and so far it was the cap compression. And then the volatility within the single family that we're not investing in those things. But if people are asking us to build it and develop it for them, then we will certainly do that. I think there's, there's obviously there's no risk to us, but I think there's less risk to someone else because they're not paying the premium of buying something new from someone else as a finished product or working with us and getting that benefit of being the owner from the front end. So we have built new homes recently. We just finished another church, we're working with another. So we just finished a church last year. We're working with another church right now. And, uh, you know, we, we just finished a house. So people hire us to do those things. But from an investment point of view, our portfolio is strictly self storage. Yeah. I love that. And so from a self storage, um, aspect, when you're building out the property, is there any value as a, you always look to add that, you know, that maybe other operators are missing or other people leave out that you think is, is definitely a mistake and you put this in there because you know, it really takes your property to that next level. It's not that complex. You never   Know. Right. So it could be anything, you know, automation, the key. Yeah. I think right now I actually, you know, I think one thing I said to her today is like, you know, what makes self storage, um, something that multifamily is, is going to take no two is it, it, it, it can be a touchless experience. Right? And so with the scarcity of what it is, I mean, you could walk in there and sign up for a locker, get key, you know, go through the kiosk, go through your gate, go in there, go in your thing. And you'll have cameras around. There's gonna be some point where, you know, I'm seeing that, you know, virtual, um, touring and apartments that people are getting adjusted to that, right. When they said, Oh, this might work because, but now that's the thing. So now, you know, people are selling houses through and everything else.   There's certain things where multifamily we'll take that, take that lesson from what they're seeing in self storage, but in terms of what you're doing, what are some of the other income drivers or other points in the properties that, that really, um, instead of like multifamily, right? So sometimes people just strictly focused on the rent, but they're missing all the ancillary parts from the income or the expense side that can really make the property because they're so focused just on the drive. Right. Right. Anything from a self storage component that you could add to note that you really think is, um, is lackluster on lots of other properties.   Yeah. Well, the, the big thing is, you know, people want try safe and secure, know those are the big driving factors. And yes, we like like most things in society today, it has gone to a touchless process. So even though we do have someone onsite that can help upsale provide other materials, boxes, packing, paper, tape, whatever it is, they have that ability that you can't always get at a kiosk location. So some of our friends who operate class B the kiosks work, wonderful class, a, you still need someone there because they're a lot bigger, you know, they're, they're about twice the size of a class B facility, and most of the class B or you drive up to versus going into the building. So everybody has their own individual key number where they can get access into the building. And, you know, they can, they can go in at any point in time.   So one of the things that we were offering, because we just opened it up, was like, we could say like, look, your locker, won't be within six feet of another occupied locker because we literally opened up like a week before the shelter in place. So it was pretty safe for safe. You come in, you'll be six feet away from somebody we'll insure it. You know? So that was one of the things that we offered. Um, but the big thing that we look for is what the market is demanding in terms of how big, so another reason why I like self storage over multifamily is I, I take the Henry Ford approach where he said that people could have whatever color car they wanted, as long as it was black. Got it. So for us, you know, they can have whatever color, self storage locker they want, as long as it's white, but more importantly, it's the size.   So what, when, when we're going through it and part of what our research and our due diligence is, what, what size is appropriate for that community. So if we just go in and build like really big units that they can't afford, then we're going to sit empty. Conversely, if we build too small of units, then no one's going to buy them because they don't want to rent like it's 20 little units. So in each community, we dictate what that size is in order to make sure that we're meeting the demand. But then we have the flexibility, as well as like in one of our facilities. We, we, we were sold out of the 10 by twenties, but yet we couldn't sell the 10 by tens. So we took out the inner wall of the 10 by Denzel man, 10 by twenties, and then they at least stop.   That's great. So we always look for that flexibility in terms of our layout or design, to make sure that we have a lot of variations. So we're not just, or unit configurations, not exactly the same throughout the entire building. What are some mistakes that are commonly made when people go into self storage investing? Well, I, I don't think it's any different than real estate. They overpriced, they overpaid, you know, and then they over leverage it. And then when the market turns or there's a change, they can't react and then their stock. And so that, and also due diligence, you know, what is the existing condition of the building? So some of the things that we're fortunate that we're doing is when we're, when we're buying these buildings, we're putting a new roof on, we're putting all new mechanicals in them. We're putting new energy efficient lighting that is motion sensor.   So it cuts down on electricity and a timer. Um, so all these, all these systems are brand new in our building. So we don't have to worry about, you know, is the boiler going to go out? Is the furnace going to go out the roof and those sorts of things. So we bring that, we're bringing the building up to state of the art technology. So the fact that we don't have to worry about a lot of ongoing maintenance concerns and the, the business plan is you go in there, you do the complete conversion process, and then you'll bring on third party management from what are the, the players there to manage the property for the life of the hold. Is that absolutely? Yeah. W I mean, my expertise is in real estate, it's not in managing self storage lockers. I'm granted, it's, it's apartments without toilets, right.   You know, that's where 35% of operational costs compared to multifamily, which is 55. There's a reason why it's 35% because there's, it, there's not as much to do, but there is a science to it. There is there isn't a logic to it. I let I hire them to do what they do best. And that way I can focus on what I do best, which is identifying properties, repositioning them and getting them ready for the marketplace. Is there a typical hold period that you find is, and I know that you talked a bit debt, you know, for multifamily, you're always bullish and just looking for the right angle. And when capris compressors is that the whole true again for what you look for in a self storage? I mean, typically for our development lease up, it's a three to five year hold. That's what we conveyed to our investors is, you know, we're, we're going to plan on holding it, excuse me, for three to five years, the last three have all been an opportunity zone.   So we we've, you know, we're, we're cognizant of that as well, to make sure that our investors are getting the maximum advantage of their taxes, um, through the opportunities on, so we balance all things in there and it spoke to the really, the city's openness for, for rezoning. Are you finding that traditionally, a lot of the properties come in there, you have to go through that process. And none of them are zoned correctly is, and that's not a huge hurdle, or is it ultimately standoffish based on town town, it's town to town, but it's becoming more difficult. Um, so storage is the ugly stepchild, make no bones about it. It is not the sexy, you know, rolls Royce or CA you know, Lamborghini in real estate. And people have this negative perception about it, but yet everybody needs it. You know? So, um, I shouldn't say everybody cause about 10% of the population utilize the self storage, but it's the type of thing where communities, I grew up in a town that didn't want to have fast food.   So they banned McDonald's. So when McDonald's was finally able to come in, they couldn't have their sign. Right. You know, they tried to push it down, but ultimately people bought the McDonald's and they make the, you know, 40 years later, the McDonald's is still there. Right? It's like, it's that way it was self storage. So the towns that we've had to rezone it, one actually told us to write the zoning because they said, you know, our zoning is so antiquated. We don't have the time. So why don't you just write it and we'll approve it. I mean, I have a master's in architecture, not urban planning. So I'm like, I've never had to write a zoning chapter, you know, definitions, those sorts of things. And the one we did in Wisconsin, we had to rezone it because it was zoned storage. And then they changed the definition between storage and self storage, because they were trying to block self storage.   So they zoned us. And I said, you guys already gave us our certificate of occupancy. And they said, well, you have to go through the process, but you won't have any problems. So we were the last ones. They PR they were preventing other people from being self storage because they didn't want more self-storage in Milwaukee, um, Toledo, Dayton, and Lowville all have the zoning. And interestingly enough, Dayton fought us. You know, they, they were trying to withhold our pace financing, um, because they didn't like the fact that we were coming in with self storage and they claimed that we didn't talk to them, which was really ironic because of the fact that, you know, we went and met with them. They made comments on what we were doing. We altered it, we showed it to them, but they were, they were trying to block it because they wanted retail on the first floor.   Interesting. And so we, we worked with them. We were, we were able to cooperate with them, come to an agreement that we both could, you know, live by. But, um, you know, they were, they were resistant to having self storage in downtown, even though it was zoned. And I said, if you don't want this, then why is it zoned that way? That was, that was my whole argument. Like, and they're like, well, we want it, but not there. I'm like, but it's zoned there. So I don't, I don't understand your argument. Yeah. The talk track doesn't quite align, but I think forward, you know, we'll see   Where we come out the other side of this, but, but you might find that cities start to take another look at it, just because it is a viable option of need when you have a lot of other things that are going to be hurting to come back. And a lot of things are going to be going digital. So, you know, Scott, I really appreciate your time. Really appreciate all the context and all the great feedback you gave on a self storage space for people don't want to learn more about you, your company, what would be the best way for them to connect?   Well, our website is www dot Coda, C O D a M G for management group.com. So that's Coda and g.com. And if they have questions, they can email us at info at dot com. And we have a lot of, we have a resource pages that shows like feasibility studies and different things, so people can learn about Salesforce on our website. So there's lots of information. That's awesome. Scott, thank you so much for coming on the show. Super appreciate the time. My pleasure. All right, everyone. Thank you so much. I'll talk to you shortly. Join us way. Your second cup of coffee. Every Monday through Friday at noon live every day, bringing us our best content we've done so far. Super excited, super engaging, a bunch of great guests. We're here to answer your questions and so appreciate listening. Make sure to check this out. Can't wait to see you. Hosted on Acast. See acast.com/privacy for more information.

Listen to how you can take things that aren't ideal and use them to your advantage. Thank you so much for listening! WE ARE SO GRATEFUL!!!! Our Sponsor:  Multifamily Foundation If you are serious about learning how to buy apartment buildings then don’t wait, go to www.multifamilyfoundation.com and let us help you build your foundation. Investing for Lifestyle and Legacy: https://www.yarusiholdings.com/ Our ENTIRE Podcast, Books and Health Suggestions: https://www.amazon.com/shop/yarusiholdings Subscribe To Us On YouTube: https://www.youtube.com/channel/UC1SuXB01d14DC8ZnEWpRQdQ?sub_confi rmation=1 Subscribe To Us on #Libsyn: http://multifamilyfoundation.libsyn.com/website Subscribe To Us on iTunes: https://podcasts.apple.com/us/podcast/the-multifamily-foundation/id1484177595 Transcription: 0:01 All right, 0:02 we are live getting started getting ready. We have a co host today. We do. So Leo, do we have a stage name? I'm not sure if we quite do potentially have stage name, but we might we might have a stage name we might. And if we could, you may find out what that is. But unfortunately right now, well, maybe not for sure. Maybe fortunately, we'll say he's preoccupied. So we're going to now figure out the next step here. Why are we in the 0:32 wrong? 0:34 the wrong one but we are here getting ready for a second cup of coffee live. Over there on Facebook is where we are. Lucy has joined us. So we are we are set. We are there. Potentially. Hey, sir. So we're live. Okay, fine. Fine. So we've made it that that took a minute but we were already up there at Facebook, but we had a little guest today. So our first guest is that Leo Yarusi Leo is now joining us. We're not sure how much he's going to join us because he's actually potentially preoccupied essentially tired at the same time. So it is second cup of coffee live. We are here today and we 1:14 got a lot that we can talk about. We have a lot that we're going to talk about. You're super excited 1:19 about what we're talking about today. We're talking about 1:23 criticism. Sure. We sure are so if you're ready, 1:26 doo doo doo doo doo doo. 1:32 All right, we are live. 1:36 Okay, everybody. 1:38 My phone right now. 1:42 All right, so we're live. It is second cup of coffee. This is Jason. I don't know. I said this is Jason but I guess I guess we did. I guess we're singing that out there. So we're live. Go over there. super appreciate everyone's been checking in which can get great feedback. Great comments. So super appreciate everyone who is really and yes thank you so much we love you guys too. It's been awesome so far. So we got Leo and Leo on the show as we have a Leo off to start the day which is a great way to go. So lots moving forward lots talking and today we want to tackle or talk about criticism and there's a lot to criticism and there's there's so many ways in social media opens up where it's almost like you have criticism that's now one on one between you your circle or people you actually speak to. And then there's this whole other wave of criticism that exists now of, of almost like a battle that can can come up on social media where people maybe don't necessarily agree with someone's view or someone's take work. Ideally, they don't even listen or even read through it. And unfortunately, a lot of a lot of you know, headlines out there. Sometimes headline can be misleading to the actual point. So We want to talk about, you know, using criticism to your advantage because there's just there's days, there's times that you do want to listen to others you do want to take into account and ultimately you do want to hear what others are saying, because it allows you to have a different perspective or see from a different viewer, or maybe rethink what you're doing. But ultimately, you can't, you can't be afraid to, to not feel or not do what you feel is right. Just because criticism may come and it will, it will honor your point. I mean, you talk to any professional out there out there, their pride that some of the best cases is that you know, they're they're trying to do something at the highest level and they're getting attacked to probably you know, and we'll say let's say attack them right away. They're getting criticized and in a way that every time they go into a, a an opponent's arena. There are people there that that probably are seeing stuff that's not great. We're don't want good for that. See, right. So But they haven't dived in, you know, they may not see what that other team is, um, you know what they do behind the curtain. So like the charitable work or what they do to get to that point, it's just that my team is this. So that other team is no good. And sometimes that's a lot with criticism, you see a lot with, you know, anything, right? You can think about people bringing up something new as a new, you know, a new invention or new, whatever would be the case, right? So bring that in to say that, okay, we're going to try this, but since it hasn't been adapted, or hasn't seen before, you know, like, you can think of anything, right. So, you know, it turns great. And then it turns back, right, the introduction of the microwave, and then the microwave. You know, Expedia eats fast food and fast food becomes this great thing. And now, you know, you create these large sizes of fast food. So it's invention, but then it gets kicked back because now it's creating a whole nother Society of obesity. But now there's people that attack that at the same time, there's people that continue to push a message because that's, that's something that really continues to grow their narrative. So you have to look at how can The criticism helped me propel me. And it pushed me forward to use that if I know I'm doing right to, to move forward in a great way, or is another way that I can think of something to improve what I'm doing on, or do I just completely disregard it. You know, sometimes social media, you'll see people like Joe Rogan talk about you, when he posts you read the comments, because obviously, there's a lot there. And there might be one comment that could be helpful, but a lot of times as people, you know, there's a there's a certain point where you can stay in behind the keyboard, and there's no, no, there's no closest or proximity to the to the other person you're speaking to. So people will say stuff that are really aggressive, right? Because there's nothing there where where, in fact, if you put two people in the same room where they can have a conversation, and that conversation could be helpful where people could talk together? Well, you probably have a much different outcome because it's not people you know, standing on something where there's there's a dividing wall that covers you to quote the internet. 5:51 So if 5:54 that kind of just happened to be right now I was I went to go check social which is probably something I Shouldn't do before I before I go live to talk to everyone. But for the most part of my my social finds, finds the amazing people in the world. If you know me, I push kindness I push action and taking action through to positivity and good works and through faith and reaching out your hand to help people. So, and I'm gonna I'm kind of gonna quote Gary Vee on this because he was giving, he was giving a speech to a to a young lady who was dealing with the negative talk that was on her thread. So the thing is, people out there if you find that somebody has commented negatively on anything that you've posted, especially in these days, I challenge you to take a breath because they're criticizing you from a place within their It's something within them that feels the need to be hateful. Or disregarding of your feelings, especially if they don't know you. And like Jason said, there's, we have this screen we, I mean, technology today is amazing because we can reach out and touch each other in different ways. And sometimes those ways can be very, very negative. When that happens to you, I challenged challenge you. I'm having a hard time breathing right now, because it was it was mean. But I challenge you to react in kindness, compassion and sympathy. Because something in them is wrong. If you are coming from a place of light and goodness and kindness and you are coming from a place of 7:58 right 8:01 Right and wrong can be can be construed a whole bunch of different ways. And that's a whole different conversation that we can have at a later date. But if you're coming from kindness and you know, deep down the kindness is 8:14 then I challenge you to take a deep breath right now, folks, take the deepest breath, you can 8:23 reply if you're going to reply with kindness and compassion or don't reply 8:30 comes down to 8:32 what is it that can be great in relationships in partnerships in just life is just listening, right? I think we we talk and ultimate everybody wants to be heard. But if we spend too much time talking, then we're forgetting most important part in that that's listening, right? And that's listening on where where we can where we can help, right and if we're going to push forward and just react without really hearing then it's It's not going to create a solution, right? Because because we're pushing forward, right? So if I'm associate the running, right so so I've my reaction is that as I'm running and I'm 3040 5060 miles in, and it's my knee and my knees bugging me and hurting it there. I may say, Well, when my knees hurting, that's my initial reaction but but if I listened to my body, listen to the problem and look at what I'm doing it till it running on my hip that's caused some problems and he changed my running style. It's not so much my knee, but it's the, the position of my hip that's causing any problem or it's actually you know, the, the socks I have, like, I've worn compression socks and that time, I would think I'm having a problem I need it's because I've worn a different sock and I pull the sock too high and it's cutting them off the wrong circulation in a point in my leg and it's been producing pressure on my knee. So if we're so quick to react that this is the problem without thinking Through. Okay, let's stop looking at problems. Let's Let's rephrase everything what can we do to create a create a solution? And it's sometimes it's it's hard to do, right? Sometimes it's hard to say, Okay, I see the solution. I see the end. And you know, again back to running, right? If I was to say what a solution is to finish the hundred miles, yes. Okay, I got it. But what is the what is that first step right there. There's, there's now the ultimate goal, but then what does that immediate step we need to do? That gives us the ability to get to the ultimate goal. So going back to take criticism, right, yeah, we have to be using that to our advantage and to to one, learn to of course, continue to hear and to be better, but to we want to completely be, we want to be critical in the right ways to ourselves, right. constructive criticism is useful, useful in everybody's life. It helps you. You want people to look at what you're doing, because sometimes we get so close to an activity and if we're so close to it, we miss to certain points, right? It's like that, that part of that, hey, I need to get right there to the other side of that wall. And that is my destiny, my goal, and I just tunnel away and I beat away for years and years and years. I got there, I did it. I did it. But imagine took all that back. And within the first couple of days, you ask someone to come out there and give you some advice on what you're doing. And they say, Oh, I see. I get that and go, that's a super goal. And why don't you just walk over 10 feet, there's a door over there. And you go, wow. And you take that home and you walk over to get to the door, you've knocked all those years off your life, you accomplish the same goal, right? So it goes to what is the point that we can use criticism constructively to, to to our ability to continue to be to be better to be to be something that we want to continue to grow into and grow and be our best self. And it's it's a learning phase, right? It's always a learning phase. 11:54 Now I mean, when it comes down to it, criticism Can you can either use it for the positive You can use it for negative, whether it's good criticism and bad criticism. Sometimes the good criticism can be just as bad as the good stuff because you kind of, if you get too many people telling you, you're awesome, you're so cool. You're, you're all that, then you're resting on your lawyer laurels, you think you're doing the best job, whereas you could be doing even better. So what can you do to step it up to the next level? And then I always come back to this, it comes down because criticism is basically opinion and whose opinion matters the most? Like, is it yours? Or is it those of the outside world? Is it those and who are you going to listen to? Who are you really, really, really going to listen to Who are you going to reach out to say, I'm going to listen to you? Because the thing is, you could actually at least you can let criticism build you up. And or you can let criticism tear you down. So those that are meant to tear you down, find ways to take that criticism and turn it around into something that you can build on, or just ignore it, just simply ignore it. Because if it's not going to help you, then chances are, it's just going to hurt you. So just choose to be the bigger person and use the criticism, either good, or ignore it. 13:25 And sometimes you'd have to put your head down, move forward and not hear any noise because because they're appointed to listen, but there's also a point that you just have to push down move forward because there's always going to be someone who wasn't hasn't reached that level. They're they're not ready for their their, their, their, their minds, not at that point, or they're just they have different tracks or anything and you see this in all different points in you know, in school admissions and everything else and you have to think Well, okay, I just have to push forward because I know that this is what is helpful for the goal right and helpful, and I might goodness in what I'm doing. So I have to push forward to see what can come of it. And if you sit there and listen every point, you're just gonna waste a ton of time, but Also, you just have to continue to move and say, okay, you know, I can look back, or I can continue to push forward and doing what I'm doing. In my heart. I know this is the right thing. So we are we probably, yeah, so and I apologize over on over on Facebook, it looks like we got some things where it didn't quite quick over, click over for whatever reason, sometimes zoom plays tricks on us, but syllabi, right? So that's what it is so, so another day. So what are we working on? We are date 1314 to 75 heart rate day 1314. Yeah, it's cool that it's actually becoming pretty good and consistent here. It's now we've been doing intermittent fasting throughout. So really about 13 hours, give or take off and 11 on Yeah, and so that's been pretty consistent in about six and night and then again, about seven the next day. And that's, you know, that that's been good. It's been it's been engaging and you find that you just continue You know, we're pretty consistent with our with our diets anyway. So it's not a point but it's just we add on a layer just to give more of a more of a step for us to really just formalize because the more we do this you know, study how hard you do it and then then you use what you can into life right so now for us some of this continues to build and build into life. So when we stop the 75 days, not everything is that okay, we continue this but there's points of it that that continue to build and a lot of this says that you know, on, on mental toughness on an effort to push yourself through when things are not ideal, and really, one thing is perfect, right? There's there's perfect moments but situations that do not usually they don't work out as ideal. So we're gonna continue to grow as we do. And you know, in terms of our workouts, it is 15 minute mark, so it's halfway through your workout. Hopefully you're crushing out there because Matt 15:52 was doing a 50 as well. 15:57 Good, good. Well, 50 pushups a day policeman rocking them out. So So you're on day two? 16:01 And on day two, and I actually, I did, I did do the 50 push ups yesterday, within like six and a half minutes. Or not yesterday, the day before yesterday when they won. And then yesterday I did in four and a half minutes. So I'm getting better. Let's see what today brings is always the second day. 16:17 Yeah, to put two push ups to Yeah, so get stronger. Right. So I remember a while ago, when you were just really getting into the push ups. Right? So that's the point, right? You got to build into it, I think, you know, just start doing them, right? You build into it, and you have to figure out your rhythm, your pacing, and that goes with a lot of things. And everything you know, from from really just your how to raise your kids you know, you can't push, push, push, push on it, learn, learn, learn, you know, there has to be a part where you create that rhythm you create that consistency in the same thing with you know, just the way you work out the way you treat your finances. You have to create that, that ability to allow it to maximize through incremental gains. Right so for this That's been fun just knocking off 50 push ups, get that in and get into our workout. So it's been usually the lead in for my afternoon workout for that. So we are going to continue to move right, continue to have a good day here 17:10 and have a good day continue to push forward, continue to build upon everything that we are doing on a daily basis. If there's anything, if there's anybody out there that needs help, needs a know, if you just want to talk. 17:24 Yeah, so lots of these are topics that are coming up for you guys. So we thank you for sending over the topics tomorrow we're gonna talk about, you know, commitment, right, so So when you say something, to follow that up with action, right. So when you say you're gonna do something, well, let's do it. And that's the talk track for tomorrow. We're going to lead into their strong. It is Tuesday, it is Tuesday. Yeah. So after a short week, last week, went to a full week this week, but they roll into the kids. We got kids over there who who are going back to having to get some naps and because I've had some tired kids and maybe that's us doing a good job as a parent potentially. We're given too much activity one or 18:01 the other time, 18:02 outside a lot outside so it's been it's been super to have that. But we got our little point there a tears, tears from the youngest, which hopefully means that he just wants to sing a song but for that Happy Tuesday, second cup of coffee live. Thank you again for checking us out. See you tomorrow. 18:31 I forgot our outro but for that point we'll get to in tomorrow 18:44 Why did you not work? Oops 21:20 Yes, 21:23 let me see Mommy's here. 21:54 Get back to you. 21:57 post this on your personal page. Thank you. 22:01 What's your password again, like some days it 22:04 should be 22:25 You are so you want some water 22:34 web 22:37 impressed by you always 23:05 You're very handsome guy. 23:09 All right, I got it. 23:12 What do you want the screen water? Say water. 23:17 What are 23:19 you are good, good coast. You need to do some kind of song like, 23:25 like Andy milonakis where you look very young but you're really old and you offer old ladies beer or something You 24:03 want to see what I did? That's so cool 24:11 so one of the things I learned yesterday we had the university homes logo and all their 24:16 YouTube things. 24:24 Again, welcome to subscribe. 24:27 You see what happened. So here is if you want to improve will help improve your Well 24:33 yeah, any video now go here. 24:38 Good job daddy. So you can subscribe 24:41 right away through the decoder to grow healthy fellows Trapper Hosted on Acast. See acast.com/privacy for more information.

Arisa Rice was raised in a small town in northeastern Colorado, and after some college, she joined the Army as a Korean linguist where she met her husband at the Defense Language Institute in Monterey. They were stationed in Hawaii, where she gave birth to their first son. She proceeded to get her degree in Korean Language at the University of Hawaii Manoa while stationed on Oahu, where she also received her commission at UHROTC and served in the Hawaii Army National Guard. Thank you for your service Arisa. When her husband was discharged from active duty, she transferred to the Colorado Army National Guard and was commander of the 128th Mobile Public Affairs Detachment. She resigned her commission when she gave birth to her 3rd child, and proceeded to stay home and focus on raising her kids for the next 10 years. Her first experience with real estate investing was when she bought her dream farm northeast of Denver, she was unable to sell her suburban home for a good price, so she decided to try renting it out. She had excellent tenants and was able to rent it out for considerably more money than her mortgage. On the farm, she earns income by renting out land to RV and tent campers through Hipcamp, which is exactly like Airbnb except no building necessary. Some campers reserve one night, some stay for months, and this provided her with the financial freedom to keep the farm running. While working on her farm and tending goats, she began listening to podcasts, which got her interested in furthering her real estate investing goals. With her 3 kids all being teenagers, she was able to start attending seminars and in 2019, Arisa got her Colorado real estate licence and began selling houses. She volunteered at Adam Adam’s real estate summits, and began working with him shortly after. Since them, she’s made excellent connections, and found work assisting real estate investors. She is currently helping other investors develop online classes as she learns and saves for her own investment properties.   Thank you so much for listening! WE ARE SO GRATEFUL!!!! Our Sponsor:  Multifamily Foundation If you are serious about learning how to buy apartment buildings then don’t wait, go to www.multifamilyfoundation.com and let us help you build your foundation. Investing for Lifestyle and Legacy: https://www.yarusiholdings.com/ Our ENTIRE Podcast, Books and Health Suggestions: https://www.amazon.com/shop/yarusiholdings Subscribe To Us On YouTube: https://www.youtube.com/channel/UC1SuXB01d14DC8ZnEWpRQdQ?sub_confi rmation=1 Subscribe To Us on #Libsyn: http://multifamilyfoundation.libsyn.com/website Subscribe To Us on iTunes: https://podcasts.apple.com/us/podcast/the-multifamily-foundation/id1484177595 Hosted on Acast. See acast.com/privacy for more information.

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Since 2011, Will has co-founded two multi-family investment firms in Texas. Will has transacted over $350MM as deal sponsor / syndicator, totaling over 7,000 units. Every deal to date has returned over 100% profit to the investment group with a typical hold time of 2 years. In 2010, Will established and operated a multifamily-specific materials import company that greatly reduced the cost and logistical headaches of renovating multi-family projects. He routinely visited sourcing factories until he sold the company in 2018. Will is licensed and registered as a real estate broker in the State of Texas. He has formally held the SEC / FINRA Series 7 and 66 licenses, and worked with TD Ameritrade and Fidelity as a stock broker. Will enjoys international travel for business and adventure, and is obsessed with cars and music. He is a Dance Club DJ throughout the Philippines. He regularly organizes and sponsors children’s medical / surgical outreaches in South East Asia. Will is on the Board of Directors of the Ruel Foundation, and founder of Angel Capitalist. Both provide vital medical care to needy children as well as economic investments in the Philippines with more than 500 children treated to date. Website: www.angelcapitalist.com   Thank you so much for listening! WE ARE SO GRATEFUL!!!! Our Sponsor:  Multifamily Foundation If you are serious about learning how to buy apartment buildings then don’t wait, go to www.multifamilyfoundation.com and let us help you build your foundation. Investing for Lifestyle and Legacy: https://www.yarusiholdings.com/ Our ENTIRE Podcast, Books and Health Suggestions: https://www.amazon.com/shop/yarusiholdings Subscribe To Us On YouTube: https://www.youtube.com/channel/UC1SuXB01d14DC8ZnEWpRQdQ?sub_confi rmation=1 Subscribe To Us on #Libsyn: http://multifamilyfoundation.libsyn.com/website Subscribe To Us on iTunes: https://podcasts.apple.com/us/podcast/the-multifamily-foundation/id1484177595   Transcription: Hello. Again, welcome back to the Jason and PLE project. Super excited to be here with you today. Of course, we love you. Checking in with us. Love you, giving us all this great feedback. You'd be like, wait here, go over. Give us a ratings review. Doesn't have to be five stars. Just has to be, we want to hear from you. We want you to dive in, tell us what we're doing. Tell us what else we can bring you. And today we have will Crozier on the show. He will. How you doing? Hey Jason. Great. How are you? Good. Good. So excited to have well on the show, he's actually in Texas with living full time in the Philippines came back of course, with COVID, but he's got such a tremendous track record here, and we'd love to have him on the show since 2011. He's co-founded two multi-family investment firms in Texas with transacting over 350 million as a deal sponsor, syndicator totalling over 7,000 units.   And on average, over a hundred percent profit to the investment group with a tickle whole time two years. And if that wasn't enough in 2010, he established a multifamily specifically cereals import company that greatly reduced the cost and logistical headaches of renovating multifamily product projects. And he sold the company in 2018. He's also has a number of licenses, series seven series 66, working as a broker. And to add that on top, he's got many passions in terms of international travel for business and adventure, obsessed with cars and music, and some of the awesome things he's doing. He's on the board of directors for the rural foundation and founder of angel capitalist, both which provide vital medical care to needy children, as well as economic investments in the Philippines with more than 500 children treated to date. I mean, that's super cool, man. So excited to have you on the show.   I'll jump in. Cause you know, a lot of people right now, small business owners, we're investors, they're listening to this and they hear a lot of things that you're doing to, you know, continue to give back. One thing you've done to, to find an additional layer to the multifamily area was to produce or start the import company. What was the thought track there was that that was pre doing the investments and, or was it second to the investments? And then from there you decided this was a good track to add onto. Yeah, it was sort of concurrent. I mean, we had an issues actually sourcing the materials we needed to renovate fast enough. We started taking on bigger and bigger, bigger projects and the big box stores couldn't even keep up with our demand. It sounds weird, but they would start delivering the wrong fan or the long, the wrong light or their own faucet. And the prices would be all over the place. And just like, ah, this is messing everything up. We guys standing up guys standing around with the hands in the pocket and you know, wasting everyone's time and money. So kind of took it into our own hands. Flew over to China, started meeting the, uh, the factory owners and they started pulling containers in and it sounds real easy, but I'll tell you it was a headache, but once I got going, it was definitely it.   That's   Awesome. And what were some of the, the key lessons learned one from a business standpoint where two, from a logistical standpoint, bringing on an additional line to your multifamily investment firms? Well, everyone talks about real estate, sort of like multiple streams of income thing jumping into this firm. It was a multiple streams of expense. Like it was just money, money out everywhere. It was this money out and it was, it was, it was a headache, but, uh, once, once we stabilized and um, our investments stabilized and we started picking up a reputation for good product bucks, you know, we were selling at a good price and it was exactly what other owners needed. It was what we needed. So it's what everyone needed. And it was on time and it was delivered for, you know, B and C projects, a multifamily project. So it kind of just took off and, uh, it was managing cashflow, I think was the number one thing.   It took 10 years off my life in those five years. So I know from working in a, having a number of businesses and working with family business, that that's one of the parts as you grow, right? It's that cashflow because it's that, it's that beauty of you're growing, but you're trying to anticipate the growing going forward and you're trying not to cut your knees off and you're trying to be optimistic, but optimistic sometimes you're not even as optimistic and as it gets bigger, you're trying to basically catch a rolling ball is rolling down a Hill. You're trying to catch up with it. And as you look at an analogy, as you're looking at an environment today, if you were to start over right now in 2020, with all you've done, you know, you came back 2011 where we had not December, but it wasn't as optimistic as maybe six months ago, you know, in 2011, how are you looking at your investment opportunities today?   I had a long call just yes, yesterday. Uh, the people who kind of came up to five years behind me or whatever. Um, if I was going to start all over again, it's a great time to start over. I mean, don't, don't necessarily jump in right now, not this second, but you know, wait, watch the dust to settle there's opportunities coming our way. There's a lot of sloppy handlers, a distant absentee owners there. They're going to fumble it. There's going to be opportunities back in the market. And that's really cool. And I'm positioning myself to be able to, to back those people, to back those sponsors, to invest with them, to guarantee loans and things like that. So yeah, it's, it's, it's a team sport and everyone's getting ready for the next round. I think that that's the key word team sport. And sometimes when people start out, they try and do everything in themselves and they forget that the ability to grow, these are, these are really businesses that you're going to narrow and correcting them.   And the more you put on an infrastructure, the more you can grow and you can do, like you did grow to 350 million, 7,000 units in a quick fashion and have a good turnover. What you did here now to two was the objective from the beginning, always to it traveled international. It was just the goal of, of doing multimillion. Do what you're doing is to find a different perspective on how you want to handle life, or it's just always been built into your life. And you found businesses that fit your life. Yeah. It wasn't the goal for sure. I think my goal was, uh, yeah, big houses, fancy light cars, you know, that, that was the goal. It really was. Um, I was born really early poor and that just always amazed me and seemed really cool. And I did that for awhile and then I got really bored of it.   And like two or three years is all it took and I'm like, okay, glad I did it and need to probably do it just to satisfy that itch. And then it kind of just sold everything and moved forward with something else. And you moved over to the Philippines, was Sammy from there, or w w what was the, what was the choice to, to move to the Philippines? Uh, as quickly as I can, when I was in China, a lot on this import company, all the coolest people I met in China were all Filipino. So they're like, come on over, come on over. And, you know, English was strong and there's a lot of cultural bond between Americans and Filipinos and it just fit really naturally. I love the people, the culture, the weather. It's. It's great. It's home now. Oh, that's so cool. So cool.   So are you still actively investing in multifamily? Why they're here in the States or now are you pushing into your other passions or your focus on angel capitalist? I'm certainly pushing forward with angel Apolis and we can talk about that for a bit, but, you know, it's always best to earn dollars, especially when you've got the team and the network, the infrastructure in place. So I'm still deal sponsoring a couple of the larger deals here in Texas. Uh, I'm investing, as I'd mentioned as kind of a key principle guarantor on a lot of other people's projects. So I'm a passive investor more and more as I can be, or just kind of a semi passive, just try to help out where I can to, to get the deals done, to get better loan terms, lend the balance sheet and these kinds of things to, to make it go around a little bit better, but, but more and more, my emphasis moves over to angel capitalist in the Philippines.   I love it. And you talked about, you know, the, the big house, the cars and how that just got tired. And, and I think a lot of people have that same thing, right? They start out making, you know, when you do you, you have that approach. That that's the first thing. When you grow eyes that your, your choice and your objectives were, were bigger than this. And it does that lead to where angel capitalist really started from it. Did. I can remember the exact moment when I was, uh, I was jogging in the morning near my big fancy house, and I was just amazed by it. It was just beautiful, everything about it was just like, you know, I did it like, I was so excited about it and almost that second, my mind flipped over and started thinking about, okay, in my garage, I've got a Bentley, I got my old 69 Camaro.   I just picked up my car, Rory. And it was just like, I gotta go buy another one. And it was just like that moment. I caught myself when I'm like, is the next sporadic the thing that satisfies that itch, not, not even close, not even close. And that's like, I started on unraveling it at that point, just putting it all behind me. And, uh, and, uh, the amazing work that you can do with small amounts of money in so many parts of the world, or even here in the U S it's just amazing what a little bit done with care, you know, uh, micro, um, humanitarian micro charities where it's at. And if you just note in you're with the people, and you're talking to the people and day by day, you're with these people, you can identify with the needs are and efficiently help them to become healthy,   To advance their life, to feed their children, to grow a business. And I became addicted to that very, very quickly. Uh, how can I do more of that instead of buying the a hundred dollar bottle of wine at my stick dinner, you know, let's divert those funds to do something much, much better. You know, when people think about giving back, lots of times they think that that means they have to have a lot of money, right? They have to have this big fund set aside. So I I'll do it, you know, in a couple of years when I started to have this nest egg and other points, and you talked about just finding these causes, even though micro causes, how did, what was the first thing that stood out to you in terms of identifying the causes that were really hugely   Impactful to you, and you want to make a difference on, yeah, it was children's surgeries and that's what I'm mostly addicted to, because it's hard to find things that are pure, like a hundred percent pure that someone's not going to monkey with. There's not some agenda, there's not some huge overhead or issue with what you're doing or it's political or something. I've found that that children who have done nothing wrong, they cannot help themselves. And then you do a life changing surgery that one day they go into the surgery and the next day they come out and their entire future has changed. I became addicted to that, and it was actually a, an eyesight of cataract surgery. That was my very, very first one. I was just being a lazy tourist, a bump, like drinking, hanging out on the beach. And, and, uh, I heard about this girl who needed about a $180 surgery, so she could see, you know, and I just thrown that amount of oil on lunch and a couple of parties the night before.   And I'm like, you know, I'm slow, I'm very slow to figure this stuff out, but eventually I figure it out. And I'm like, that is what I want to do. And we did it and now she sees, and, and then it started spiraling. I started building infrastructure and all the lessons I've learned here in business, in the United States about scaling, about growing about trusted advisors, about handling money, about trust. I don't, I spend a lot of my own money on this, but really it's key. I do a lot of crowdsourcing. I throw up a new case that we find, I throw it up on social media. I'm like, you know, who wants to get in on this with me? Cause most people do. Most people are like, that's really cool. I want to do that too. And so it's really just cooperative and everything I've learned in business translates so well into what we're doing now over there,   In terms of the scaling aspect of your business, what's been the best growth factor you've taken from your business and put it into this right here.   Hi, I'm a syndicator, you know, I didn't have any money to do these big apartment projects. Uh, so, so it was about convincing a few people to trust in me. And then once you get the ball rolling and you have a track record and you have trust built up and a reputation and a network, you lend that to much, much bigger projects. And that's what I'm working on now. And basically starting to syndicate larger and larger humanitarian projects in the Philippines. And this is the same people. It's literally the same people that I just made, you know, hundreds or millions of dollars for in the past few years. And they're there, same trust in me, the same reputation did they, if anyone else wants to participate, they'll be like, yeah. You know, I trust him with them. He's over there. He's spending his own money to make this stuff happen. So let's jump in there. So it's, it's all teams it's in its reputation and it's building those relationships of trust.   Yeah. And you're right, right. So, and I think that goes back to a lot of people's perception, Yvonne buying multi-families that you have to have this large bank roll ahead of you, but it's really just making sure that what you say is what you do, having the right terminology. When you talk to people that you can make sure that they understand that you're going to go out there and times are not going to be easy. There, there things are going to happen, but you're going to put in the work and make sure that you're there every step of the way to make it happen. And the cool thing about this is you talk about the cataract surgery. It's something apartment buildings may take a while to turn around, right? It's not like a flip where you can be in and out in a month. You may have two years, three years to see that see the after effect, but the surgery, you can, you could see how that changes so quickly. Right? So you get that immediate point when you had that first one happened, what was, what was the, the internal response? What was your first thought or your emotion from it?   I was addicted. I mean, there was nothing else to say, but that, and you know, when you're doing this kind of business, it's nice to have that external affirmation from everyone. Oh, well, you're a good guy. You're doing all this good stuff and on and on. And it feels good to hear that I liked that, but actually it's, for me, it's my own selfish reasons. Like it makes me happier and more excited than anything else that I'm doing. So I'm doing it for myself. So it's not as selfless and altruistic because it sounds, it's just, it's the coolest thing that I can do in my life. So that's why I'm doing it.   Yeah. I love that. And just the effect of, of person, right. Just imagine, I'm just thinking of my mind, like it, you, you, you vision the vision, right? That just to be able to see something, it gives you such a whole different perspective, right? Just like they say, a picture can create a thousand words. And so for someone to go from not seeing to have an at first sight, you can just imagine the visual, just all the things that must come to mind when someone has that effect. And it's just cool that you could, and it's, it's daunting, right? Because we think of everything on unmasked capacity. Like maybe that surgery here would be like 10,000 hours, but somewhere else, it's a hundred, $180 and you're able to go and just change them in the future. And I love that. What is the, the next steps, which the future with angel capitalist.   So I haven't even been released this yet. You know, you're the first one I'm, I'm really working, uh, to put out a game plan that everyone can watch. Everyone can see that soon. I'm going to move from, I'm asking for a hundred bucks, I'm asking you to match my 500 or a thousand dollars for this next surgical outreach. I'm going to start hunting whales similar to what we did in, uh, in, in multifamily investing. And by that, we're not going to go get a harpoon in a big boat. I'm going to talk, I'm talking more to build the relationship and the bridges with people who, who have huge amounts of money and don't know where to put it. Cause that's actually what we always face in the apartment world with investors. They have a lot of money. They want to deploy it all. They need to get it invested. They just don't know who they can trust. They don't know the right market cycles or whatever. I want to be one of the people that they trust that I've, that I publicly aired   What we're doing publicly shown that track record the portfolio, the resume of what we've done for humans and how tiny, tiny bits of money it can help so much. And I wanted to do that on a much larger scale form. I would like to say, Hey, give me your million. Who do you have? Where's your auntie? Is she, is she unwinding? Her life wants to put her money to good care. Now in good hands, fly over and meet with me, meet with my team. Let's really start scaling this up. Cause there's so many more people we can help. There's there's, there's never going to be enough. And I'm just going to try and do my best with them. If there's a person listening to it, doesn't have the track record, right. It hasn't done a project hasn't hasn't had the impact, uh, but they love this and they want to get involved.   They're just not sure how to get started with what are some suggestions for someone to, to build character, build trust as they continue to grow in what they want to do. You know, I think a lot of us hate social media because of all of the woes that it brings to us, but just sort of putting your profiles on public and being transparent about your failures, showing all the terrible days that you have just showing when there's a success, really enjoy it with everybody. It just, I've had to be a lot more transparent. It's caused me a lot of problems. I'll tell you it's caused a lot of stressful days and nights and just attacks and weird threats and stuff. But the goal is worth it. Whether you're building that business or trying to do something great on like the humanitarian charity side, you will have that trust.   And no matter what I throw on social media, it always gets funded now. And it's, it's people give me 20 bucks, you know, like here's 20, but it gets funded because we built that in. And I think that that's been, been key is being transparent. And also just like you said, do what you say you're going to do except the plan and do it. Yeah. And it it's, it's funny. Cause social media, you do, you have to get out there and talk about what you want to do. It's just the idea of having a resume. Right. And showing people, your resumes as long gone, and the future of it is going to be that someone just going to Google you and just see what you're doing. Cause that's an easier fix. And we always look for the easy, right. And there's a lot of people out there that, that use that to, to attack people just because maybe they're dealing with their own, whatever right behind, behind the curtain where it just it's, it's so easy to type something.   But if I, you know, if I'm sitting there face to face with you, I would never say that. Right know, like right there, funny, but in effect is so easy. If you just say, Hey listen, you know, I'm so sorry. You feel that when you get back to them, it's crazy. But it's the world that we've all grown into is going to continue to be that way. And what's cool is that you can create and track what you're doing for your legacy. You know, you can go and show no other family, other, other friends, you know, 30 years from now, you know, this is what we were doing at this point in this hour, you're using this impact and it, and like it creates our own, like, I, I will say like history books, right. In a weird way. It's like, it's becoming like the new history book, like using social media is. And so it's almost, it's almost like it's almost hurting you if you don't put your stuff up because it gives the rest of your family for generations, the ability to see where it was. Cause the pictures we don't take, we don't like relish. Those pictures are on the phone. And then that people's phones get erased. You don't have pictures where like you find   Them in the attic anymore and say, Hey, here's the, all my grandma from like 60 years ago, here's this picture. And it just, it's amazing how it continues to transform and how those steps go forward. As you, as you look into your next steps and you've gone over to the Philippines and talk to us about what you're doing as a DJ is just as something that you just love. Don't, you've always had a passion for   Rock band since I was 13 or whatever. And then rock kind of died. I don't know, 10 years, I don't know where it is. It's hiding someday somewhere. I'm a rocket, I'm a drummer and a guitarist, but you know, I want, I love music. I wanted to participate. And before when I was in business, I always felt guilty. I always felt guilty to like take an hour and like strum on my guitar or whatever. And now it's also that I have that twinge of guilt. Sometimes I'll be like trying to remix something and I just like invested three hours in it. And it's like, wow, the, the best use of my time. But at the end of the day, we're here to be happy. We're here to pursue our interests and our talents. And it's something I'm passionate about. So I try to do it all. I try to do it both or everything   Going forward. How do you identify the best use of your time? I think we all feel that we're, we're overwhelmed with these, these tasks and maybe have a hard time identifying what's important for me to do right now.   Yeah. I have, I guess, two answers to that sort of the, the logical side of me. I was just listening to Elon Musk on a podcast the other day. And, uh, he, he left, he wanted to build his own house. He wanted to like design it and he says, he's an OCD guy. I think that's pretty obvious. And he was going to like map out every detail of it. And he's like, I could spend a few years doing that or it could get our assets to Mars. You know, she's like, I should probably focus on going to Mars. Right. So, um, you know, me, I guess that's sort of the same thing. I, I need to put a lot of priority on, on helping people's lives, changing, changing their life, their future, giving them an opportunity of health, of wellbeing, of an economic opportunity to feed their family.   But on the flip side of that, I think that we can work ourselves to death into the dirt and never take a moment to enjoy our life. And I think we're here to be happy. I think that's the number one thing. So if you put a priority on being happy yourself, personally, I think that good things will fall into place where you're actually happy just helping people are growing your business or being an advocate for better change. So I would say, how do you allocate your time and doing those things that make you happy is probably the other answer.   Yeah. I love that heard the same podcast on Joe Rogan and it was, it struck me too. It was the same thing. It was like, yeah, I was going to buy it, you know, build this like a Ironman house or Ironman house, or I guess the Mars kind of think the Mars thing might be more important on these projects, you know, but that's, that's funny and it gives it an even on the highest scale, it still makes sense for your life, right. And what you can do on your level, wherever you are in your life, that you get to put those in place. And so I've absolutely enjoyed this. This has been awesome. Super appreciate what you're doing. I'm going to definitely continue follow up and see what you're doing   More and just be involved and for others, uh, angel capitalist.com, where else is the best way for them to connect with you? I'm very much active on Facebook. So they'll we'll Crozier. Uh, angel capitalist has got a page there. Angel capitalist.com. Cap ex ventures is my other business. That's more multifamily centric. So you can reach me there too. But any one of those will get to me happy to talk to anyone who is interested in the same things. Yeah. Business real estate growth. Love it. Well, thank you so much. Really appreciate your time.   This has been great. Thank you everyone. Listen. Super appreciate you guys. Talk to you shortly. Join us by your second cup of coffee. Every Monday through Friday at noon live every day, bringing us our best content we've done so far. Super excited, super engaging bunch of great guests. We're here to answer your questions in. 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Today we dive into what the weekend taught us and how crushing our goals start with simply Asking, Believing and Receiving. Thank you so much for listening! WE ARE SO GRATEFUL!!!! Our Sponsor:  Multifamily Foundation If you are serious about learning how to buy apartment buildings then don’t wait, go to www.multifamilyfoundation.com and let us help you build your foundation. Investing for Lifestyle and Legacy: https://www.yarusiholdings.com/ Our ENTIRE Podcast, Books and Health Suggestions: https://www.amazon.com/shop/yarusiholdings Subscribe To Us On YouTube: https://www.youtube.com/channel/UC1SuXB01d14DC8ZnEWpRQdQ?sub_confi rmation=1 Subscribe To Us on #Libsyn: http://multifamilyfoundation.libsyn.com/website Hosted on Acast. See acast.com/privacy for more information.

Ashley Wilson is the Co-Founder of Bar Down Investments, LLC & HouseItLook, LLC. She has over ten years of real estate experience and has been involved in over $40 million in transactions within both single and multifamily real estate. Ashley Co-Founded Bar Down Investments, LLC with her husband, Kyle. Ashley leads asset and construction management on her multifamily investments, and has provided operational consulting for several other large multifamily owners throughout the country. Additionally, Ashley & her father, Tom, also have a very successful high-end flipping business in Pennsylvania, HouseItLook LLC, which handles several million in transactions annually. When Ashley is not working on her businesses, she enjoys spending time with her family, including her husband and their two daughters. Additionally, Ashley enjoys competing with her horse. Wow! Thank you so much for listening! WE ARE SO GRATEFUL!!!! Our Sponsor:  Multifamily Foundation If you are serious about learning how to buy apartment buildings then don’t wait, go to www.multifamilyfoundation.com and let us help you build your foundation. Investing for Lifestyle and Legacy: https://www.yarusiholdings.com/ Our ENTIRE Podcast, Books and Health Suggestions: https://www.amazon.com/shop/yarusiholdings Subscribe To Us On YouTube: https://www.youtube.com/channel/UC1SuXB01d14DC8ZnEWpRQdQ?sub_confi rmation=1 Subscribe To Us on #Libsyn: http://multifamilyfoundation.libsyn.com/website Hosted on Acast. See acast.com/privacy for more information.