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WEBVTT
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Did you know that 90 % of the world's millionaires
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invest in real estate? Well, I'm Angel with the
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Academy Presents Real Estate Investing Rocks,
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and I'm here to help you if you want to go for
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your piece of that pie. Are you new? Are you
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new to this and you just don't know where to
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start? It's okay. Are you someone that has invested,
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but you feel stuck, you feel like you've lost
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momentum, you don't know where to really head
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from here? Are you a seasoned real estate investor
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who is doing great but maybe you just want to
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hone a few skills here and there? This is the
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place for you. The Academy Presents Real Estate
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Investing Rocks podcast will connect you with
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industry experts so that you can save time, avoid
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costly mistakes, and begin living the life you've
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dreamed of all through real estate investing.
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You're already taking the first step. just by
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joining us here today. Hey guys it's Angel and
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you are here at the Spring REI Rock Summit. Let
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me get all the words out and we're going to be
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talking with Kimberly McCall and she has grown
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exponentially since the last summit and she's
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learned a lot more. She's been on some deals
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and so we're going to talk about how you find
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your role in multifamily. So I will say that
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you can create a role that is less traditional
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that's kind of what I did like Jason is underwriter
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traditional but I do like the relationships and
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not just like with investors but with vendors
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you know with different lenders like with people
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that's what I do I like to talk and I like to
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you know have friends and so we created a whole
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new role for me and basically it's a relationships
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manager and if you go different places to certain
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companies you'll find relationships managers
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and I never even knew like it was a real like
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title I thought we had made something up kind
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of like our son's name
Load full transcript
our son is Anson it was
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Angel and Jason's who was together turned out
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Anson was a real name we didn't know I love him
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I love that well thank you thank you I want to
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say I love that. Like a relationship manager.
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I don't know what to call it either. So I didn't
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know like in a real title. I think that's beautiful.
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It is something that I'm finding my way into
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that same role. And it's probably why I'm so
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attracted to you. I'm like, I just want to talk
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to Angel. She knows everybody and everything.
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And I just want like, I think it's my most favorite
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role. And you're right. It's not a it's not a
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traditional role. A lot of times we we talk about
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the underwriting the like who's doing market
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research and who's doing the asset management
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and all these traditional roles but it is a relationships
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manager that I like gravitate to so um I didn't
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even know it was a role like and then it was
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um so we were at our we were at our bank and
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we were at chase because we were in the syndication
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through of the syndication account and the person
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that we work with is a relationships manager.
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And then I was at an event and Quest was there
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presenting. And the guy that's talking is their
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chief relationships manager. And I was like,
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what the heck? This is an actual true role in
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lots of different companies. Wow. Yeah, I think
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I might need a new name placement tag, Chief
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Relationship Manager. I love it. Well, I definitely,
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so I am currently in a position to where I talk
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with many new investors. And so they come sometimes
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with real estate experience and sometimes with
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none. Like, and so we're a lot in between there.
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And really, the things that we'll talk about
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is it's like, what do you What are you fond of?
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What are you attracted to? Do you like talking
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to people? And I had to express like somebody
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has to take charge when it comes to these relationships.
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It's not just investors. It's, yeah, like are
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you in need of a sponsor and who's going to be
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the person talking with them? Are you in need
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of asset management? Say that that's not their
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cup of expertise, but yet, you know, the sponsor
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is not going to do that either. So who are you
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talking to to help? you know, navigate those
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roles. So from the beginning, you know, you just
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kind of dive in and talk about the things that
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you enjoy doing and focusing there. I'm a big
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advocate of kind of knowing at least the top
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layer of everything. So you learn to appreciate
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them more. When I started, I signed up to do
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asset management. I was like, I want to do asset
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management. I want to work with people that's
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already on my team. I tend to get intimidated
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by talking to people that I don't know. That
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first initial relationship building is like,
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I get a little shy. But for someone and you're
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like, hey, meet so and so, I will talk to so
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and so all day. But if I seen so -and -so by
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themselves, I would probably just smile and wave.
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So, yeah, I just like to, I like to build our
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after, you know, especially after the first introduction,
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I like to build on those relationships and teach
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people how to do that. The asset management I
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learned was not my role. It took a little, it
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was a hard, rude awakening in just having to
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partner with people and and learning so many
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different aspects of it, I was like, okay, I
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think I'm going to take my relationship skills
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and build them and amplify them in different
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areas of the business because that asset management
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wasn't as easy as I thought. It's tough. But
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with that experience, I definitely tell people,
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don't forget to pay your asset managers because
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they're a critical part of the team. Well, and
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there's parts of asset management that you might've
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been well suited for. Um, so I am, I am
not the
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person that's going to have the tough conversation
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with somebody. Um, I'm, I can have that conversation,
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but certainly not at a GP meeting where the,
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you know, the team, the whole team is there.
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The property managers are there. The onsite person
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may be on the call too. I'm not going to have
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that, that conversation of, you're not doing
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what we need you to do in front of everybody.
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I just I can't do it. I didn't like it in the
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classroom. I don't like it in an adult meeting
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either because it's like everybody's averting
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their eyes. They don't know where to look when
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you're getting onto somebody. And so I'm just
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not going to do that. I can do it one on one,
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but not in a group. And so what happened was
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it was more like I moved out of that part of
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it. But if something goes, if something is happening
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on site, I'll drive there. Yeah. and I'll help
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take care of it. Like when we needed, we were
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about to lose our liability insurance because
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rail to rail on the stairway was greater than
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four inches. Now here was the problem. It grandfathered
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and was fine in the state. It grandfathered and
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was fine in the county. The insurance was having
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an issue with it. So I find out basically the
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day that we are on our last 24 hours and we're
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being canceled at midnight and I drive there
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and Here comes the maintenance guy has a rebar
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in his hand. I'm like, Mike, come here and he
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brings the rebar over and I'm like, this is what
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we're going to use. We're going to go by rebar
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and we're gonna cut it and weld it in. And so
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this was like probably about 11 o 'clock in the
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morning. He went to go by rebar I stayed on site
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with the floater that we pulled from another
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property that had a welder and could actually
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weld it Until he's roughing up and trying to
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get a place where the weld can grab for the bars
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to go in place. And I'm there and I'm just standing
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because there's things I remember. Like when
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I worked, we had a shave ice stand. And I was
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the owner's kid, whatever. But I ran the thing
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from the time I was like 13. I knew how to do
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shave ice. And I just remembered from way back
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then, if I sat down, everybody else thought it
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was break time. And so having those experiences
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as I was growing up, I knew that the moment I
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sat down out there, it was break time. So I stood
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for eight hours on the concrete. I would walk
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to the jeep and get some of my Coke and then
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I would come back and stand because it had to
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be done. We were in the last 24 hours. And I
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think one stairwell was done by like 4 p .m.
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and I took pictures and I was sending it to insurance.
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I was texting it to JT, like I was sending everything
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everywhere to make sure that they knew, hey,
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we're doing this. I sent a picture of the receipt.
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I'm like, look, we've bought the pieces. Here
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we are. We're taking care of this now. It's going
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to be getting done. There were 16 stairwells
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and we only got one done that first day. Yeah.
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And so, but we were able to keep the insurance
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and everything was fine. And I can do those kinds
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of asset management pieces. Yeah. You just need
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a body there. You need someone to go and make
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sure that it's getting done. You need someone
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to oversee how it's being done. I have zero issues
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with that because I'll crack jokes with people.
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The guy was Hispanic and so like I would look
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up how to say something and once I looked it
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up I knew how to say it but it was like I don't
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always remember it in my head and he just kept
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laughing and the next time I saw him on a different
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property he was like hey speak Spanish. That's
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my word. I love that. You know, like I can build
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relationships like that. Yeah. But for the asset,
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like it's just those, those hard conversations,
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the tough ones where you're like, you're not
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doing what you need to be doing. I don't like
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having those conversations unless they're one
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-on -one. Yeah. No, that's right on. I, you're
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right. I do pitch in with, so, and that's the
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thing like people should, sometimes we don't
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recognize it as a strength. Right? Like I do
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a lot of social media and I had no idea that
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would be a strength. Well, our onsite doesn't
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do social media. So I have been able to step
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up and like I'll do the listings and we share
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a little spreadsheet and I'll send her, you know,
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some leads. So I do the Facebook listings and
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I'll pull out, you know, I just say, hey, you
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know, how, how can they get ahold of you? I'm
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going to have my onsite reach out to you. They
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give me their phone number and I pass it on to
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our onsite. That will follow up. But it was definitely
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something that I didn't I really didn't consider
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it a skill. Like it's Facebook. Are you kidding
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everyone on Facebook? Well, they're not. And
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so it is something that you can definitely help
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with the asset management and it's something
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I enjoy. So the beauty to a multifamily is that
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it's a team, right? So, and you do get to pitch
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in, you know, what, what you're like, like we've
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already said, you pitch in what you're attracted
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to or what you enjoy doing. And sometimes when
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we enjoy, enjoy doing it, we don't realize it's
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a, it's a skill. And so I love going on Facebook
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and I love everyone's photos, but I shop a ton
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on marketplace and I've listed a ton on marketplace.
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So being able to do that for property management
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has created amazing team dynamics. And we're
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always like, we get them those apartments filled
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up and we're like, yeah, teamwork. So that's
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true. There's things that like I do fit in. on
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the team side, that is very, very helpful. Yeah.
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What I would, I mean, see, like if, if the relationships
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piece is the part you like, I mean, I go to virtual
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meetups every day and I've been doing it ever
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since the beginning of COVID. And so how have
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I met so many people because I go to a lot of
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stuff and I go to face -to -face stuff too, because
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Texas opened up pretty early. Um, but I've met
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a lot of really cool people and it means that
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I've gotten to learn about things pretty early
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into adoption, like with CPACE. And so we got
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to learn about C -PACE and I've met three or
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four different people that are doing it, but
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we were able to say when Moshe Orange, when he
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said, Hey, I'm doing C -PACE. I was able to reach
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out to him and say, Hey, can you help me? We
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want to know more about it. And so he was able
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to, he had a contact at the bank where we got
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our loan and he was already, he was already talking
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to them and he, he texted me yesterday and he
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was like, I didn't forget about you. You know,
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I'm still waiting to hear back. And I was like,
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Well, I figured it was going to take a bit. He's
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like, well, you know, I'm used to working with
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New Yorkers. They want it now. Yeah. But I told
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him, I said, well, me harping on you and going
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to make it magically happen faster. And he's
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like, tell that to some New Yorkers. I'm like,
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well, I would, but you know, they are New Yorkers.
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But it was, I mean, it was those relationships
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that I wouldn't have. There's other people do
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and see pace and there were other people I had
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contact, but I don't know them. And he comes
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to my marvelous Mondays and we've met and lots
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of other meetups and stuff. And so I was able
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to go with someone that I know, that I know isn't
00:13:22.610 --> 00:13:25.330
gonna lead me astray. And that's what the business
00:13:25.330 --> 00:13:28.549
is about, right? Like no light trust. I remember
00:13:28.549 --> 00:13:32.570
like from early, early people have to know like
00:13:32.570 --> 00:13:36.850
trust you. And so. you know your reputation is
00:13:36.850 --> 00:13:38.909
all you have
in this business and it's a small
00:13:38.909 --> 00:13:43.070
multi -family world so you know making sure you
00:13:43.070 --> 00:13:45.149
keep those relationships. Yeah absolutely and
00:13:45.149 --> 00:13:48.509
that reputation that precedes you whether you
00:13:48.509 --> 00:13:51.929
realize it or not that's your brand. So whether
00:13:51.929 --> 00:13:53.610
you think you're branding or you don't think
00:13:53.610 --> 00:13:58.210
you're branding you are because people learn
00:13:58.210 --> 00:14:00.309
about who you are they learn your reputation
00:14:00.309 --> 00:14:05.200
and that is part of your brand. Absolutely. Yeah.
00:14:05.659 --> 00:14:07.559
There was a quote, man, I wish I remembered it
00:14:07.559 --> 00:14:10.620
right now. Something about, you know, like your
00:14:10.620 --> 00:14:13.679
business card and what you say is your, your
00:14:13.679 --> 00:14:16.039
business card or what you do is your brand or
00:14:16.039 --> 00:14:17.379
something like that. I'll have to look it up
00:14:17.379 --> 00:14:22.039
and share. But when you and Jason started, how
00:14:22.039 --> 00:14:24.179
did you, like, he was always attracted to the
00:14:24.179 --> 00:14:29.659
numbers or like, how did, like, so I am very,
00:14:29.720 --> 00:14:34.799
especially with spouse couples. like when it
00:14:34.799 --> 00:14:37.419
comes to the team. Yeah so Jason is a chemical
00:14:37.419 --> 00:14:39.559
engineer. Numbers are kind of his thing and he
00:14:39.559 --> 00:14:43.200
has his doctorate in chemical engineering. He's
00:14:43.200 --> 00:14:46.700
been doing research in like R &D and heat dynamics
00:14:46.700 --> 00:14:49.179
and he does CFD which is computational fluid
00:14:49.179 --> 00:14:53.600
dynamics. So he does modeling and all of these
00:14:53.600 --> 00:14:55.759
things. So yeah numbers are very much his thing.
00:14:56.159 --> 00:15:01.100
He also is really he can code and so like he
00:15:01.100 --> 00:15:03.559
coded our whole spreadsheet. for underwriting
00:15:03.559 --> 00:15:09.019
it is 100 % his wow that's beautiful yeah so
00:15:09.019 --> 00:15:12.240
that's numbers are absolutely his thing and he's
00:15:12.240 --> 00:15:14.919
my 15 year old was like just now realizing the
00:15:14.919 --> 00:15:17.700
stuff but he and i are actually very much the
00:15:17.700 --> 00:15:21.399
same but he's an introvert and i'm an extrovert
00:15:21.399 --> 00:15:24.960
so when he when i'm reading his text i can hear
00:15:24.960 --> 00:15:28.080
what he's saying And I think it's hilarious.
00:15:28.320 --> 00:15:30.259
And so then when I read it out to my 15 year
00:15:30.259 --> 00:15:31.500
old, she's like, why are you laughing? I read
00:15:31.500 --> 00:15:33.659
out this text. She was like, yeah, that's because
00:15:33.659 --> 00:15:35.620
you read it in your voice. I'm like, oh no, honey.
00:15:36.379 --> 00:15:38.620
I read it in your daddy's voice. You just don't
00:15:38.620 --> 00:15:42.080
realize it's his voice. And she was like, oh,
00:15:42.240 --> 00:15:46.259
I'm like, oh yeah. Jason and I are like, we are
00:15:46.259 --> 00:15:48.860
so much the same, but he's not going to say it.
00:15:48.919 --> 00:15:52.779
And I don't have a filter. So it just comes out.
00:15:53.049 --> 00:15:57.250
I love that. I do come across a lot of spouse
00:15:57.250 --> 00:16:00.590
people starting, you know, new investors that
00:16:00.590 --> 00:16:02.590
are coming into this business and they always,
00:16:02.629 --> 00:16:05.110
that's the number one question, how does it work?
00:16:05.470 --> 00:16:07.769
And so a lot, oftentimes I, you know, it's just
00:16:07.769 --> 00:16:10.629
like finding your role. So what does he enjoy
00:16:10.629 --> 00:16:13.549
doing? What do you enjoy doing? And do they benefit
00:16:13.549 --> 00:16:16.490
each other? I know sometimes we, my husband and
00:16:16.490 --> 00:16:20.169
I are learning, at this point we're leaning towards,
00:16:20.289 --> 00:16:22.590
we kind of like the same thing. He's way more,
00:16:22.620 --> 00:16:24.980
extroverted than I am, even though people like
00:16:24.980 --> 00:16:29.539
I am. But he could talk all day and and just
00:16:29.539 --> 00:16:33.720
put on this great show. But yeah, we're both
00:16:33.720 --> 00:16:37.659
more leaning towards the relationships with with
00:16:37.659 --> 00:16:42.720
investor relations. So we like that. But so it's
00:16:42.720 --> 00:16:44.639
easy now for us, like we want to do the same
00:16:44.639 --> 00:16:47.799
thing. But then even though that we want to.
00:16:47.870 --> 00:16:51.169
do the same role now, you know, the trick is
00:16:51.169 --> 00:16:52.690
like, okay, now we're going to have to partner
00:16:52.690 --> 00:16:55.309
with people that fulfill these other roles. And
00:16:55.309 --> 00:16:59.269
so I get people that are realtors and they want
00:16:59.269 --> 00:17:01.629
to come into this business. And, you know, so
00:17:01.629 --> 00:17:03.730
they want to specialize with broker relationships
00:17:03.730 --> 00:17:06.690
and it's been working. So they, you know, like,
00:17:06.849 --> 00:17:08.609
Hey, we kind of already speak this language.
00:17:08.890 --> 00:17:11.490
So they tend to gravitate towards them. I got
00:17:11.490 --> 00:17:14.210
plenty of engineers that love the underwriting.
00:17:14.849 --> 00:17:19.609
And I get some people that, that have No, no
00:17:19.609 --> 00:17:21.769
background and no knowledge. So pulling that
00:17:21.769 --> 00:17:25.309
out of them is what I've been finding a little
00:17:25.309 --> 00:17:28.710
bit tricky, almost only because of their own.
00:17:29.269 --> 00:17:33.109
We're just talking about their own. What's that
00:17:33.109 --> 00:17:37.089
when it's not a false identity, but they imposter
00:17:37.089 --> 00:17:39.789
syndrome, imposter syndrome. And sometimes people
00:17:39.789 --> 00:17:42.549
come with that and they think like, no, I'm not
00:17:42.549 -->
00:17:45.579
in it. a real estate investor, I'm not, you know,
00:17:45.660 --> 00:17:47.960
these things, how can I possibly do this work?
00:17:48.000 --> 00:17:51.059
But it's like, well, that's definitely your limiting
00:17:51.059 --> 00:17:53.480
belief. And how do we how do we pull that out
00:17:53.480 --> 00:17:55.460
of you? And what are you doing? Are you being
00:17:55.460 --> 00:17:58.400
obsessed? Like when I came, I was listening to
00:17:58.400 --> 00:18:01.319
every podcast and going to so many virtual meetups
00:18:01.319 --> 00:18:04.720
and just being completely fully emerged. And
00:18:04.720 --> 00:18:08.819
we only are what what we do, right? Like what
00:18:08.819 --> 00:18:12.019
we feed ourselves. And and it will click. It
00:18:12.019 --> 00:18:15.089
will. at some point, but you have to be active,
00:18:15.329 --> 00:18:17.250
right? You have to be doing it. And a lot of
00:18:17.250 --> 00:18:20.130
times, I think sometimes our people say, well,
00:18:20.250 --> 00:18:24.430
I only have so much time in the day. And it's
00:18:24.430 --> 00:18:27.569
like getting down to the why and not like deep
00:18:27.569 --> 00:18:31.410
why beyond beyond. I want to be financially free.
00:18:31.410 --> 00:18:34.710
Why? Like, what's the feeling? What's the emotion?
00:18:34.809 --> 00:18:39.450
What is that? That the long term beyond yourself
00:18:39.450 --> 00:18:44.259
and beyond right now, beyond 2023 to that makes
00:18:44.259 --> 00:18:48.420
you gravitate to to being fully like I'm in it
00:18:48.420 --> 00:18:50.500
I'm being fully in where I want to eat sleep
00:18:50.500 --> 00:18:55.599
and drink multifamily and and just diving in
00:18:55.599 --> 00:18:58.900
and then really focusing on like okay I am this
00:18:58.900 --> 00:19:01.900
I'm learning about it every single day and then
00:19:01.900 --> 00:19:04.549
and then that's when you get to like when you
00:19:04.549 --> 00:19:07.430
hear so many people speak and they share their
00:19:07.430 --> 00:19:10.869
experiences and realizing, oh, I do like talking
00:19:10.869 --> 00:19:14.069
to people. That's the role I want to do, whether
00:19:14.069 --> 00:19:16.670
I'm talking to sponsors or investors or lenders
00:19:16.670 --> 00:19:20.390
or anyone that like those relationships is critical.
00:19:20.549 --> 00:19:25.769
And I'm like, oh, that is a need. the relationship
00:19:25.769 --> 00:19:29.910
with relationship manager. Since it doesn't have
00:19:29.910 --> 00:19:32.150
a title and it's something that I didn't ever
00:19:32.150 --> 00:19:36.250
consider like to be a traditional role, I didn't
00:19:36.250 --> 00:19:40.349
think that was a need. Jason's been calling me
00:19:40.349 --> 00:19:44.349
the CRO, the Chief Relationships Officer. Oh
00:19:44.349 --> 00:19:48.309
really, I love it. I love that. He's great. Is
00:19:48.309 --> 00:19:51.809
better than CRM. Chief Relationship Manager because
00:19:51.809 --> 00:19:55.289
I don't even use a CRM. So the last thing I need
00:19:55.289 --> 00:19:58.009
to be called is a CRM. So it was a CRO.