In this episode, Dallon Schultz discusses his journey into real estate investing and how he started one of his most significant real estate investing meetups. He shares the mistakes and lessons he learned from building and running the event and also reveals how he got Robert Kiyosaki to attend one of their events. Additionally, Dallon offers excellent tips on what it takes to run a successful meetup and financial advice on charging for tickets and arranging sponsorships. He also explains why charging for tickets helps attract more experienced people who understand the value of attending such an event.    Tune in to this insightful episode to learn more about how to build a successful real estate meetup from scratch and benefit from Dallon's wise investments! [00:01 - 07:28] Opening Segment Dallon Schultz talks about how he built a local real estate investing meetup that became the biggest in his stateThe implications of having Robert Kiyosaki as an attendee   [07:29 - 15:29] How Rev Used a Meetup to Grow Their Network and Increase Attendee Quality Dallon invited guest speakers to the event to provide more benefits and exposureMoving the venue to a more excellent restaurant and charging $10 per ticketThese increased attendance and quality of attendees   [15:30 - 24:48] Robert Kiyosaki's Inspiring Visit to a Real Estate Meetup Dallon shares when Robert Kiyosaki visited one of his eventsThe meetup was started to provide value and get around people who thought similarly   [24:49 - 34:13] Closing Segment Best investment: development deal that was sold for more than twice the cost in 14 monthsWorst investment: house flip that took 4-6 months and broke evenThe most important lesson learned: building your network Quotes:   "I prefer live events. Even though I wouldn't consider myself an extrovert, I enjoy networking events and connecting with like-minded people." - Dallon Schultz   "If people don't see the value in your events, then they're probably not the ones you want there in the first place." - Dallon Schultz Connect with Dallon! Instagram: https://www.instagram.com/revmultifamily/  Website: www.InvestwithRev.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Whitney Elkins-Hutten, a successful real estate investor who has transitioned from active to passive investing, discusses car wash investing and how it can be a great asset class for investors. She shares her journey from being an accidental rental property owner to building wealth through rentals and flipping properties. Additionally, she talks about depreciation and paper losses for passive real estate investors and how cash flow can benefit those who invest in car washes. Finally, she touches on topics such as mitigating expenses by updating equipment to save energy and money, using technology to pre-program subscription models, the potential of tax benefits when investing passively in a car wash, and how the market analysis should be done to determine potential supply and demand.    Tune in now to learn more about car wash investing from Whitney Elkins-Hutten!   [00:01 - 05:44] Opening Segment Whitney Elkins-Hutten is a successful real estate investor and a director of Investor Education She started in real estate by accident in 2002 when she bought a house with a significant otherShe and her husband have 6,500 residential units, 2200 self-storage units, and seven express car washes   [05:45 - 11:02] Unlocking the Potential of Car Washes: Cash Flow, Equity, Tax Benefits, and More There are four different types of car washes that you can invest in DIY cement bay, tunnel wash, flex service wash, and full-service washCar washes are becoming more popular as an investment avenue due to tighter markets and rising interest ratesThird-party management is needed for larger private equity groups and IPOsCash flow increased through a monthly subscription modelEquity leveraged by increasing income and adding additional streams of income   [11:03 - 17:09] Lowering Expenses and Increasing Income Through Technology: A Look at Car Wash Market Analysis Updating equipment and water reclamation systems to reduce expenses and be more environmentally friendlyModulating the tunnel for electricity and water usageCapturing customer information to market upgrade specials, share with family/friendsThe tax benefits of investing passively in a carwash   [17:10 - 23:10] Water Reclamation Systems and More Efficient Equipment Cost of water mitigation through efficient equipmentMarket analysis criteria such as population growth, income growth, job growth, traffic count, etcWater allocation to businesses versus residential   [23:11 - 28:29] Closing Segment Best investment: MindsetWorst investment: not thoroughly vetting an operatorThe most important lesson learned: not taking yourself too seriously Quotes:   "Everybody says to start with why." - Whitney Elkins-Hutten   "There's multiple oil change places and lube facilities in town. Now with car washes, this is where we think it's fascinating because as the potential moves toward more electric cars, we'll see many of those facilities go away. But guess what? Electric cars still have to be washed." - Whitney Elkins-Hutten Connect with Whitney! www.PassiveInvestingwithWhitney.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Pete Reese has been in the real estate industry for almost two decades and is now sharing his experience with land flipping. Join us as Pete discusses how he buys properties off-market, adds value, and resells them quickly to double his money after commissions and closing costs. He talks about the advantages of partnering with passive investors who put up money to buy the property and split the profits, as well as the potential opportunities to develop rural properties into solar farms or wind farms with incentives and tax benefits. Pete also shares insights on mistakes he has made in the past, such as keeping a team member who didn't fit in and how consistency is vital for any investor.    Take advantage of this thought-provoking discussion on land flipping!   [00:01 - 06:10] Opening Segment Pete has been in real estate since 2002 and got his broker's license in 2006Land flipping involves buying properties and holding them for a short amount of time before reselling themThe value is added by finding deals that are not as liquid as other assets, such as single-family homes   [06:11 - 14:11] Generating Passive Income Through Land Flipping Buying properties off-market and reselling them at a price slightly below marketBuying more significant properties and splitting them up into smaller ones to resell individuallyLand flipping business is mainly about active income with no benefits or long-term capital gainsPassive investors can partner with land flippers to buy properties and split profitsGas rights, mineral rights, and timber investments may be involved   [14:12 - 24:40] Building a Team for Success in the Land Business Opportunity to buy rural property, hire engineering firm, and resell it for premium.Sending out 50,000 letters a month offering to purchase propertiesHow Pete built out a team of acquisition managers, lead/due diligence managers, property analysts, list managers, asset managers, transaction managers, & executive assistantsPete's mistakes made in building a teamReal estate experience helps but is not necessary for specific roles   [24:41 - 29:35] Closing Segment Best investment: a 40-acre property sold for 175K after three weeksWorst investment: not investing in real estate during the 2007 crashThe most important lesson learned: consistency Quotes:   "It's all about consistency for us. It's about making sure. The leads are coming in consistently, and I can control that by sending out the mail. I send out 50,000 letters a month, and it's like clockwork." - Pete Reese   "I'm just kind of a big believer in the asset class itself because I feel like, especially in the inflationary environment that we're in, the land is kind of the ultimate asset, and in theory, it should rise in price." - Pete Reese Connect with Pete! Website: www.TurningProfit.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Taylor shares the #1 lesson that helped him scale his real estate business. This is the lesson that will not only help you get more out of your real estate, but also get more out of life and focus on the things that really matter. Taylor's implementation of this lesson helped set up 2023 to be his biggest year ever. This lesson helped 2022 beat 2021, and with more big things on the way. You'll learn: The key insight that makes this lesson importantHow to implement this lesson in your businessThe positive impact it'll have on your lifeThe key that really makes this all so important. Getting the most out of your most scarce asset. Investing with Taylor: www.investwithtaylor.com Get our 7 Day Course: www.passiverealestatecourse.com

Join us on this episode as Sean Thomson shares his framework and rubric for best-in-class asset management in multifamily real estate investing. We'll explore the importance of having an asset management plan and how sponsors and passive investors can vet whether or not their sponsors have the right experience and goals. Sean will offer advice on understanding everyone's role, setting objectives, evaluating risks, developing strategies, creating accountability structures with clear lines of communication, and more. He will also explain why mistakes can be hidden in a booming market but become more apparent when the market is not so good.    Tune in to gain valuable insights from Sean on how to create a best-in-class asset management strategy!   [00:01 - 06:54] Opening Segment Sean Thomson started in real estate 12-13 years ago and transitioned from single-family to multifamilySean created a framework for best-in-class asset management, what sponsors should do in their asset management plans, and what passive investors can look forHe created a platform for excellent processes and systems for asset management to help those struggling with it   [06:55 - 11:55] Uncovering the Secrets of Best-in-Class Asset Management Asset management is essential for real estate investments, especially when the market isn't perfectThe goal of an asset manager is to optimize the upside and mitigate the downside of an investmentCommunication is vital for successful asset management, as well as understanding roles and creating accountabilityThird-party asset managers are often called in when things are not going well   [11:56 - 16:45] The Difference Between Property Management and Asset Management How a history of a murder could narrow down the options for buyersIt's essential to have an asset management plan before taking over a propertyThe mission is your destination, and the vision is the path to get thereAsset management oversees the overall business planProperty management is essential for successful operations in large multifamily   [16:46 - 25:41] Tips for Passive Investors on Asset Management Plans Lousy property management is often an asset management problemOwners often put pressure on property management companies to do things that are not in their wheelhouseProperty management needs money, decisions, and guidance from the owner to do their job properlyVetting the property manager is important to ensure they have a clear plan and accountabilityPassive investors should expect regular communication, reports, and updates from their sponsor   [25:42 - 31:24] Closing Segment Best investment: often the ones that are not madeWorst investment: buying a house on a busy street that took a year to sellThe most important lesson learned: the key to being successful is striving to be as good as you can be every day Quotes:   "My daily focus is to be as good as I can be today. And to serve my investors, serve my community, serve my family. That's my goal in life, just in general, is to be as good as I can be." - Sean Thomson   "Good market will hide mistakes in asset management." - Sean Thomson   "Making good decisions sometimes hurts the investor in the short term, but it's the best long-term decision." - Sean Thomson Connect with Sean! Website: www.ThomsonMultifamilyGroup.com    Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Join us on this episode as we chat with Ray Heimann, a real estate investor specializing in multi-family properties in the lower middle market. We'll discuss how his investment strategy is based on understanding the market at a block-by-block level, analyzing median income and other factors before buying and renovating properties to add value and package them into portfolios for sale to institutional investors. We'll learn about the two components of investing: value-add through renovations and rolling up portfolios. We'll also explore the difference between local and Wall Street investors, including what they look for in an investment and how Exit Co. bridges the gap between them.    [00:01 - 06:05] Opening Segment Introducing Ray to the showAdding value through renovations and packaging them into portfolios for institutional buyersEconomies of scale achieved through group purchasing and using techUnderstanding the different sub-markets by analyzing block by block and neighborhood by neighborhoodThe soft side of understanding the market involves walking it, talking to brokers, and being constantly in touch with it   [06:06 - 13:28] Understanding Wall Street's Appetite for Real Estate Portfolios Spend a lot of time in the market to understand it and pick the right submarketsTarget tenants with household incomes of 80-120K per yearValue add through renovations and portfolio exitRenovations increase value from 100 to 150-170$/sqftPortfolio exit increases the value to 240-270$/sqftExit strategies include Wall Street investors, private equity funds, multi-family offices, international investment funds   [13:29 - 19:39] Bridging the Gap Between Wall Street and Main Street Real Estate Investors Arbitrage between interest rates and yields is keyExit strategies include bundling properties into portfolios and offering exits across markets with similar themesLocal investors don't think about cash flow the same way as Wall Street investorsThe acquisition strategy is 60-70% off the market, reaching out to sellers directly through omnichannel methods   [19:40 - 25:59] Investing Wisely: Understanding Assets to Avoid Making Bad Investments Sweet Spot is a 6-8 unit apartment building, often inherited or not managed well.Offering deals without broker fees and can transact quickly and off-marketHitting higher cap rates than ever before due to recession fearsThe exit cap rate has not changed much, and we still hit our typical return   [25:30 - 31:38] Closing Segment Best investment: team, apprenticeship, and training them for successWorst investment: not understanding what was being invested in, overly complex, and getting bit in the rear end by itThe most important lesson learned: finding out what you're good at and what you like and doing that thing and then finding out what you're bad at and what you don't like and filling in the gaps with something or someone Quotes:   "You have to understand it. You have to walk it; you have to talk to brokers. You have to be in touch with that market to get there constantly." - Ray Heimann Connect with Ray! Website: www.USATerra.com  Email: info@usaterra.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

In this episode, Nicole Heasley shares her experience breaking into real estate investing as a house hacker. She shares how she navigated the process with minimal background knowledge, found a reliable agent who helped her pick a suitable property and established boundaries with her tenants. Nicole also reveals vital takeaways from her first investment that enabled her to build passive cash flow in future investments. Discover what it takes to get started with house hacking: finding the right loan program, interviewing potential tenants, and hiring outside help for maintenance.    Learn about Nicole's experience, and gain insights into the essential skills needed to succeed with real estate investing.    [00:01 - 06:45] Opening Segment Nicole Heasley talks about her experience with house hacking and the key lessons she learnedShe wanted to make sure there was enough recreational space for tenants and visitorsHer location was chosen based on job availability and safety considerations   [06:46 - 15:41] Buying Your First Houses Nicole's realtor was very tactful in helping her decide what was best for herNicole wanted to cover the mortgage and have a garage space for herselfShe covered all utilities herself initially but would split them evenly if she did it againInterviewed potential roommates and used the RoomieMatch website to find compatible people   [15:42 - 21:58] Learning to Be the "Bad Guy" as a Landlord Throwing in personal questions on the rental applicationHow Nicole learned how to be the "bad guy" when necessaryStudent loans didn't impact the ability to get a mortgage or make a down paymentHow Nicole started attending meetups and eventually bought more properties   [21:59 - 26:19] Closing Segment Best investment: time invested in meetupsWorst investment: trading in stocksThe most important lesson learned: not being shy Quotes:   "I did learn how to tell people, 'No, you can't do that,' or 'No, I can't waive this.' That's absolutely a skill." - Nicole Heasley   "I don't care what business endeavor you're starting, you always start off undercutting yourself." - Nicole Heasley Connect with Nicole! Facebook: https://www.facebook.com/nrheasley  Email: nicole.heasley@ccm.com    Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Seth Teagle is a former firefighter and paramedic who achieved financial independence through real estate investing after 22 years. He is passionate about creating generational wealth for The Stream Group's investors. He is also well-known in the multifamily real estate industry for educating others with similar backgrounds.    In this episode, Seth shares his inspiring journey of transitioning from a physically demanding career to real estate investing and how his first 50-unit acquisition yielded $1M. He shares his story of getting started in real estate and how he invested in himself, his skills, and his network to close his first 50-unit multifamily deal. From there, he scaled up to operate over $185 million in commercial real estate.    Tune in to gain valuable insights and inspiration for your real estate investment journeys!   [00:00 - 07:49] Opening Segment Seth Teagle is a former firefighter and paramedic who became financially independent through real estate investingHis first deal was a 50-unit multifamily property that he got into after building his network and skillsSeth's journey started when he realized he needed to make more money to support his growing family and met a college roommate who was a successful real estate investor   [07:50 - 14:53] From Working for Free to Closing a 50-Unit Apartment Deal Seth worked for a mentor for 14 months for free to gain knowledge and skillsHe took a pay cut and invested in himself to build a resume for future dealsBrought in one investor and accessed home equity line of credit to purchase 50 unit propertySeth had to bring in a hard money lender at the end due to an unexpected increase in the down paymentDifferent banks' appetites for loans and types of real estate they are interested in   [14:54 - 21:18] From Rejection to Success: Overcoming Roadblocks  Seth shares how he struggled to find a bank to finance their first real estate deal due to a lack of experience and networkThe property experienced high vacancy rates and required significant renovations, leading the speaker to raise private capitalDespite working long hours and facing personal risk, Seth completed the project and refinanced with significant equity.The experience inspired Seth to pursue real estate investing as a career.Key lessons include pushing beyond comfort zones, being vulnerable, and persevering through challenges   [21:19 - 26:33] How Networking and Adding Value Led to a Successful Real Estate Career Actively listening for opportunities to provide value and fill a role that others couldn'tRecognizing the importance of successful people's time and offering to pay for itValuing action takers and giving them specific action steps to take   [26:34 - 31:57] Closing Segment Best investment: Seth's first dealWorst investment: buying a 40-unit propertyThe most important lesson learned: hiring A players  Quotes:   "Understand that if they're super successful, their time is valuable." - Seth Teagle   "I just had to push myself beyond my comfort zone and know it would hurt. You have to push through that." - Seth Teagle   "If somebody gives you a crack in the door, they kind of give you a little bit of glimmer of hope that they'll talk to you, then do everything they say." - Seth Teagle   "Hire A players and terminate the C players or not hire them at all." - Seth Teagle Connect with Seth! Investing: https://www.thestreamgroups.com  Mentoring: https://www.thefirehousebros.com    Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Taylor welcomes Neal Bawa back to dive into the state of the economy, inflation, interest rates, and how the banking crisis is affecting real estate now and in the future. Neal believes that the banking crisis will have extraordinary repercussions for the world and that it has acted as a catalyst for everyone to shine a floodlight on what else in the economy could go wrong. However, he notes that multifamily has the lowest exposure to mid-size banks of all real estate asset classes, making it less vulnerable to this crisis. One key takeaway from this conversation is that data insights are vital to figuring out what's next in hacking real estate.    [00:01 - 12:06] Opening Segment Introducing Neal to the showThe state of the economy, inflation, interest rates, and the banking crisis' impact on real estateGovernment organizations primarily fund multifamily loansInterest rates may decline, but fewer lenders in the market could offset any benefitsProperty quality will determine the impact of interest rate changes and lender pullback   [12:06 - 22:50] Significant Discounts and Distress in US Property Markets Brokers are seeing a lot of cash calls in the industry in AprilDiscounts of 18-26% are already available in markets like Phoenix and AtlantaSavvy investors see this as a great time to buy, but 90% of investors are freaked outInflation is under control due to significant movement in the labor marketMarch saw a moderation and weakening, with major industries pulling back and layoffs happening   [22:51 - 26:53] Long-term Inflation and Single-Family Housing Markets  Layoffs are happening in various sectors due to CEOs managing a recessionInflation is under control in the short term, but the long-term outlook is concerningThe single-family market has performed outstandingly well despite predictions of a declineDebt fixed rates have prevented distress in the single-family market, while the multifamily market struggles with floating debt   [26:54 - 30:17] Closing Segment What is one thing we are not discussing that we should be?Long term inflation Connect with Neal through the links below Quote/s:   "Nobody anywhere on this planet, including all the federal reserves banks put together, can put the long-term inflation genie back in the bottle." - Neal Bawa Connect with Neal! Website: www.MultifamilyU.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Fred Moskowitz, a note investing expert, discusses the tax liability associated with note investing and how it differs from real estate investing. He shares his insights on navigating these unique tax implications and maximizing your returns. Fred compares and contrasts the note investing space during the great recession to today's rising interest rates and other conditions. He provides valuable insights on how investors can adapt their strategies in different market conditions.    Fred also shares how he financed his first few note deals through profits from real estate investments. He emphasizes that while investing in notes can be capital intensive, starting with buying a couple of notes on your own is possible. As you gain experience and expertise, transaction sizes can increase.   This episode is packed with valuable insights and actionable advice for anyone interested in note investing. Tune in now to learn more!   [00:01 - 08:26] Opening Segment Guest Fred Moskowitz discusses note investing and becoming the bank by investing in debt.Fred compares note investing conditions post-recession to today's rising interest rates.Note investing provides stable and predictable cash flow, making it an appealing investment opportunity   [08:27 - 16:52] How to Start Small and Grow into Larger Transactions with Self-Directed Retirement Accounts Note investing can be capital-intensive, but starting small is possibleBuying larger pools of notes allows for better discounts and access to dealsSelf-directed retirement accounts are a powerful strategy for note investingNotes generate a tax liability, making self-directed retirement accounts even more beneficialInvesting in debt through self-directed retirement accounts does not incur certain taxes   [16:54 - 25:03] Insights on Larger Transactions, Rising Interest Rates, and Preferred Note Types Larger transactions mean buying more notes at onceNotes are available in all sizes from $5,000 to millionsTransaction size gives more options and flexibilityInterest rates impact pricing, but supply and demand are the main factorNon-performing note investing has higher risk but the potential for greater returns   [25:04 - 34:23] Closing Segment Best investment: an opportunity to invest in a local community bank Worst investment: buying some notesThe most important lesson learned: investing in yourself Quotes:   "I came to the realization that I needed to have other sources of income so I wouldn't be so dependent on the paycheck for my job." - Fred Moskowitz   "The best thing that we can do as investors is to be nimble." - Fred Moskowitz Connect with Fred! Book: The Little Green Book of Node Investing Website: https://www.fredmoskowitz.com  Phone: 2154614433   Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Steffany Boldrini shares her experience buying a car wash that did not go as expected and why she shifted to self-storage investing. Steffany emphasizes the importance of being selective about who to partner with and learning from mistakes made along the way. She advises against car wash investing unless someone has fantastic managers to deal with local employees, as it can be challenging to manage remotely. She also recommends evaluating the market before investing in a new asset class. Steffany finds self-storage investing more manageable and profitable, focusing on partnerships to scale her business.    The conversation concerns the harsh lessons learned in investing in different asset classes, particularly car washes and self-storage. Steffany also discusses the challenges in finding suitable employees and managing remotely and the impact of distance on investment strategy.    Please tune in for valuable insights from an experienced investor who knows what it takes to succeed in today's market.   [00:01 - 06:18] Opening Segment Steffany shares her experience buying a car wash that didn't work out as expectedWhy she shifted to self-storage investingCar wash investing is growing in popularity but can be difficult to manage from afarEmployee management and cash handling can be challenging in this asset class   [06:19 - 12:42] Lessons Learned from Investing in Remote Properties: The Challenges of Managing Car Washes and the Advantages of Self-Storage The importance of having a good onsite person for managementInvesting within a two-hour drive for hands-on propertiesSelf-storage is easier to manage remotely and automateInvest based on what is important to you (money vs. time)Use technology for physical due diligence and inspections   [12:43 - 18:56] Tips on Partnership and Remote Lifestyle Steffany shares her experience with real estate deals and partnershipsThe importance of finding the right partners and building strong relationshipsThe challenges of working remotely and finding friends in new cities   [18:57 - 22:18] Closing Segment Best investment Steffany has madeWorst investment: car wash businessThe most important lesson learned: following up Quotes:   "We have to be very selective about who we partner with." - Steffany Boldrini   "You have to find the people that have your weaknesses as their strengths." - Steffany Boldrini Connect with Staffany! LinkedIn: https://www.linkedin.com/in/steffbold/  Website: www.https://montecarlorei.com      Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

With over 15 years of experience in real estate investing and a passion for educating others, Spencer outlines his five-part decision-making framework for vetting passive investments. He emphasizes the importance of communication and delivering news well in building trust with investors. He also discusses the challenges of balancing a high-powered career with family life and finding a different way to live through real estate investing.    As the market shifts in 2023, Spencer aims to educate and serve others with his experience and investment opportunities. He emphasizes the need for sponsors to be responsive and transparent in their answers to investors' questions. Lastly, he touches on the importance of learning from challenging experiences as an entrepreneur. Jump right in to learn valuable insights into passive real estate investing and how to evaluate investment opportunities!   [00:01 - 09:36] Spencer's History of Investing Spencer Hilligoss invested over seven figures personally of his own money into deals as a passive investorHe stepped away from his career in Silicon Valley in October 2019 after building loan origination groups for a fix-and-flip lender that was also a tech companyCommunication is key for passive investors in real estate   [09:37 - 19:38] Five-Part Decision-Making Framework for Passive Investments Track record approachTeam approachCommunicationsQuantitative approachValues   [19:39 - 24:45] Key Factors in Passive Real Estate Investing Transparency and clear communication are essential in real estate investingRed flags to look out for include slow or unclear investor communicationsValues should be considered when investing, including how tenants are treatedBehavioral interviewing can help gauge a sponsor's experience and ability to handle challenges   [24:46 - 29:11] Closing Segment Best investment: buying their first homeWorst investment: putting money into CryptoThe most important lesson learned: the world is very connected   Quotes:   "Humility is key in life for thriving." - Spencer Hilligoss   "Just tell people what's happening. Treat people like adults, and speak to them as adults. Don't hide stuff." - Spencer Hilligoss Connect with Spencer! Website: www.MadisonInvesting.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/ Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Taylor takes a deep dive into the current state of the real estate market with Cody Laughlin, one of three managing partners at Blue Oak Capital. With many multi-family operators struggling to see outsized increases in rent growth and occupancies, there's no denying a downturn in progress. However, Cody shares his experience underwriting and operating real estate deals during downturns, emphasizing the importance of running numbers on real estate deals during a downturn and adapting business models to make it through these challenging times. Real estate investing has become mainstream, leading to many new investors coming into the space. However, with competition fueling accelerated asset values, there is now a downturn in progress with softening occupancies, rent premiums, and delinquencies. Despite this, Cody believes there will still be opportunities for those who are prudent in their analysis and assumptions.    This episode gives valuable insights into navigating the current state of the real estate market while positioning oneself well for future cycles. Tune in now!   [00:01 - 06:08] Opening Segment Cody Laughlin shares his underwriting and operating strategies for real estate deals during a downturnBlue Oak Capital acquires and operates multi-family acquisitions Accidental landlord experience led to discovering the benefits of real estate investingUnderwriting and operating deals during downturns are important regardless of whether or not we're currently in one.   [06:09 - 14:08] Real Estate Investing Goes Mainstream A vast number of new investors entering the space has fueled competition and accelerated asset valuesSoftening in occupancies, rent premiums, and increases in delinquencies indicate a downturn in the marketThe year of the operator - operations are the most vital variable to focus on this year   [14:09 - 19:07] Adopting Conservative Underwriting Strategies During Downturns Underwriting is the process of running the numbers for a propertyConservative underwriting is crucial in the current environment to mitigate downside riskDebt is the most significant limiting variable in underwriting leverageOccupancies and rent growth are trending back down to pre-pandemic levels, so conservative assumptions are necessary   [19:08 - 25:55] Retaining Tenants and Cutting Expenses During Market Downturns Focus on retention to keep costs downMitigate expenses by cutting unnecessary expendituresUncertain rules from the Fed are causing unpredictability in the marketRelief may come in Q2 with a pause on interest rate hikes   [25:56 - 29:59] Closing Segment Best investment: spending $4,000 on a mattress firmWorst investment: franchise licensure with a fitness companyThe most important lesson learned: not being afraid to fail forward Quotes:   "Focusing on resident retention and customer service is absolutely crucial right now." - Cody Laughlin   "Now's the time to really be conservative in your underwriting and make sure that you're building in layers of protection to mitigate your downside risk." - Cody Laughlin   "Never be afraid to fail forward. Don't be afraid to make mistakes and don't be afraid to fail because every failure is a learning opportunity." - Cody Laughlin Connect with Cody! Free coaching call: 832-7431400 Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

One of the surprising effects of the pandemic is a surge in demand for self-storage. But is this trend here to stay?    Our guest, a self-storage expert Terry Campbell, shares their insights on the operational upsides for investors who buy properties correctly and use remote management. Terry shares ways to increase the efficiency and profitability of self-storage facilities. One method is to have a remote sales storage manager who can manage multiple facilities from home, reducing costs. He emphasizes the importance of being less than 100% full and raising rates as it can significantly increase the facility's bottom line. Self-storage remains recession-resistant and a popular investment option for banks and investors. Whether you're an experienced investor or just starting, this episode provides valuable insights into the self-storage industry and the potential for long-term profitability. Tune in to learn more!   [00:01 - 05:23] Opening Segment Introducing Terry to the showRemote self-storage management can provide operational upsides for investorsMistakes in self-storage investing can lead to trouble and lost moneyRemote management is becoming more popular due to cost savings and labor shortagesCopper Storage Management provides third-party remote management services   [05:24 - 20:02] Revolutionizing Self-Storage Management Remote management allows one manager to handle multiple facilitiesAI chatbot reduces call volume and increases facility capacity for call center agentsDigital marketing and SEO presence help drive leads and increase valueTenant insurance is a valuable source of income and protection for self-storage facilitiesManagement companies should not be afraid to push rates and enforce feesPrices for self-storage facilities are starting to come down from previous years   [20:03 - 29:19] Navigating the Complexities of Self-Storage Discussion on liens and mistakes people make in self-storageThe majority of the self-storage market is still owned by mom and pops (70-75%)Self-storage is recession and pandemic-resistant, driving demand during pandemic   [29:20 - 34:07] Closing Segment Best investment: self-storageWorst investment: trying to make money in the stock marketThe most important lesson learned: Do not get caught up in paralysis by analysis Quotes:   "You should never be a hundred percent full. If you're a hundred percent full, you're not charging enough." - Terry Campbell   "Just not following the state's processes can bite you. If you don't properly put a notice out there that there will be an auction, that's a problem. Sometimes people don't start the auction process correctly and end up making a wrongful sale, which can lead to legal issues and costly lawsuits." - Terry Campbell Connect with Terry! Email: terry@coppersm.com  Website: www.CopperStorageManagement.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

It doesn't matter if you have the best deal in the world if you don't have your network in place. Today's guest is Tyler Cauble, a commercial real estate investor and broker based in Nashville. In this episode, they dive into the world of commercial real estate investing and discover how Tyler's vertically integrated commercial real estate firm focuses on office, retail, industrial, hospitality, and multi-family properties. Tune in today as we learn more about commercial real estate investing from one of the best in the business!   [00:01 - 05:51] Opening Segment Welcoming Tyler to the showTyler's firm is vertically integrated and involved in a variety of projectsTriple net leases have tenants cover common area maintenance, property taxes, and building insurance expensesValue can be found in triple net deals through development or finding undervalued properties with long-term leases.   [05:52 - 12:55] Navigating the Changing Landscape of Commercial Real Estate: Opportunities in Office Space Invest in existing shopping centers with the potential to increase NOIGeneralization of death of office space is not accurate. It depends on asset class and locationMicro office spaces for small companies are a good investment opportunityAn increase in occupancy dramatically increases property value on a cap rate basisRefinancing to pull out capital may be impacted by current interest rates   [12:56 - 19:54] Interest Rates and Real Estate Investments in Nashville Interest rates have caused projects to be dropped and developers to back out of salesTriple-net and multi-family markets have been affected the most by interest ratesIndustrial space in Nashville has high demand due to its unique advantagesTennessee does not make up for no state income tax with high property taxes but through sales tax   [19:55 - 25:07] Lessons Learned from Raising Capital and Dealing with Setbacks Syndication and raising capital in commercial real estate are often overlooked or not talked about enoughGoing through larger raises means talking to more people and dealing with different personalities   [25:08 - 30:33] Closing Segment Best investment: joining GoBundanceWorst investment: Tyler's first dealThe most important lesson learned: just go out there and do it Quotes:   "It doesn't matter if you have the most amazing deal in the world. If you don't know anybody to give you money, you can't do anything with it." - Tyler Cauble   "A lot of the value comes from just driving the NOI up, whether that's through increasing your rental rates or decreasing your operating expenses, essentially arbitraging it on a cap rate." - Tyler Cauble   "I think that the biggest thing when it comes to any kind of real estate is you've just got to do the first one. I know that it's intimidating. I know it's scary. There's so much where you just make these excuses and guess what? You're never going to learn how to truly do it until you do that first project." - Tyler Cauble Connect with Tyler! Instagram: @commercial_in_nashville YouTube: @TylerCauble Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Sam Primm, the co-owner of Faster Freedom, shares his story of achieving financial independence through real estate investing. Sam emphasizes the importance of being true to oneself instead of trying to emulate others, treating real estate investing like a business, partnering with trustworthy individuals, and hiring the right team. Throughout this conversation, Sam discusses the difference between those who apply their education and take action versus those who do not. He highlights the importance of taking action and being okay with failure to succeed. There is no one-size-fits-all approach; listeners are advised to get involved in their local community to gain knowledge and experience. The first step's challenges include fear and lack of knowledge; however, taking small steps toward goals is encouraged.    Join us as we learn from Sam Primm's story of achieving financial independence through real estate investment.   [00:01 - 05:36] Opening Segment Sam Primm shares his story of achieving financial independence through real estate investing using goal setting, hard work, and determinationScaling in real estate requires treating it like a business, having a trusted partner, hiring the right team, and being open to education and coachingSeminar junkies who don't take action won't succeed in real estate investing   [05:37 - 11:33] The Importance of Taking Action and Embracing Failure to Achieve Success Learning by doing is vital, not just listening and watchingBeing okay with failure is crucial to successStarting small and scaling up with systems and employees helped grow Sam's business   [11:34 - 18:20] Achieving Financial Freedom in Two Years Quitting a job making $50k was more manageable than quitting a job making $250kFinancial freedom is not just about sitting on the beach; it's about drive, growth, impact, competitiveness, and overcoming challengesCreating generational impact through growing rental portfolios and a team of 38 people   [18:21 - 26:28] Setting Audacious Goals Developing into generational impact and billion-dollar real estateBringing an NBA team to St. LouisThe importance of understanding oneself and personal risk tolerance in real estate investingEveryone has a different path to financial freedomGetting involved in local communities for successful investing   [26:29 - 33:33] Closing Segment Best investment: 42 packs of houses bought for $83k per door, appraised at $5.8mWorst investment: self-storage facility with indoor boat and RV storage that blew over multiple timesMost important lesson: properly leveraging debt is crucial for creating wealth in real estate investing Quotes:   "You can't walk the same path. Trying to be somebody else will never work. As soon as you're who you are, then you're going to be successful in anything." - Sam Primm   "You're going to learn a vast majority by actually doing it. So going on and taking action is key." - Sam Primm   "It's about the drive. It's about the grind, it's about the growth, it's about the challenge, it's about the competitiveness. It's about overcoming." - Sam Primm Connect with Sam! Website: www.FasterFreedom.com  Podcast: The FasterFreedom Show Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa, go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Patrick Menefee, who left his consulting job, shares how to become a successful real estate investor and coach. Patrick's journey began with a burning desire to achieve financial freedom without relying on parental funding. He started investing in real estate and gradually built partnerships to scale his business. He emphasizes the importance of negotiating deals with partners and dividing responsibilities and returns. However, Patrick soon realized that more than financial independence was needed to find fulfillment. He reinvented himself through coaching and mentorship, finding purpose in teaching others how to achieve their goals.    Get insights on how to find a more tangible version of your goals by tuning in!   [00:01 - 07:23] Opening Segment Welcoming Patrick to the showHow Patrick Menefee left his job to become a full-time real estate investorHe achieved financial independence but lost his purpose and reinvented himselfHe bought 20 doors and funded it with his own savings and equity investments   [07:24 - 13:14] From $4,000 to financial freedom: How Patrick Built a Real Estate Empire  How strategic partnerships and reputation building can help scale a businessDeals were structured differently depending on the partner, and negotiation was keyThe entrepreneurial drive can be both nature and nurtureFinancial independence was a milestone, not the end goalThe importance of having a purpose and why it is important before leaving a job for entrepreneurship   [13:15 - 20:08] Discovering Your Purpose Beyond Materialistic Temptations The pursuit of money alone is not fulfillingFlipping houses provided income but lacked purposeA strong why or purpose is necessary for success and fulfillmentReinventing oneself requires healthy experimentation and trying new thingsCoaching others has revealed the everyday struggle of lacking a strong why or purposeThe danger of being too comfortable and not having a strong pull toward something better   [20:09 - 24:45] Insights on Creating A Genuine "Why" Discussion on creating vs. uncovering the "why" in pursuing goalsImportance of breaking down long-term goals into tangible, achievable milestonesEmphasis on building habits and taking action now to achieve future success   [24:46 - 30:13] Closing Segment Best investment: a $4,000 dealWorst investment: buying an eight-unit back in 2019The most important lesson learned: Finding your "why" and purpose Quotes:   "Healthy experimentation and shiny object syndrome aren't the same things." - Patrick Menefee   "Anything that you want that's going to be worthwhile to drive towards creating the life that you want is going to be difficult, or you've at least gotta be able to go through something difficult." - Patrick Menefee   "People need to have a strong enough 'why' to push through when things get hard, especially if they are comfortable. Without a purpose or fulfillment, chasing money alone is not enough to sustain motivation and success." - Patrick Menefee Connect with Patrick! Website: www.investdgp.com Email: patrick@investdgp.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa, go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Insurance policies are an excellent way for real estate investors to reduce risks, but understanding how to utilize them and public adjusters can help.   Today, Taylor welcomes Andy Gurczak, the president at Allcity Adjusting, to share how public adjusting can help real estate investors reduce risks and get the proper amount out of their insurance claims. Public adjusters advocate for insured individuals and handle everything from negotiating depreciation and damage to preparing documents and negotiating additional coverages. Andy also discusses the role of public adjusters in helping policyholders navigate insurance claims. It highlights the importance of contacting a public adjuster early in the process and the benefits they provide, including reducing stress and increasing settlement amounts.    Real estate investment has been the best investment for Andy, providing freedom. So, if you're a real estate investor looking to reduce risks and get the proper amount out of your insurance claims, tune in to this episode!   [00:01 - 07:25] Opening Segment Welcoming Andy to the showHow public adjusters can help real estate investors reduce risks and get proper insurance claimsInsurance policies are a way to minimize risks and spread them across othersHiring a public adjuster can maximize the entire claim process for the policyholder   [07:26 - 14:03] Why You Should Hire a Public Adjuster for Your Insurance Claims Public adjuster departments exist in almost every state to help insured individualsHaving a public adjuster can provide general advice, accelerate the process, and result in a larger settlement for the insured individualMany people are underinsured or lack coverage due to not being familiar with the industry   [14:04 - 19:57] Andy's Advice on Navigating Insurance Claims and Avoiding Common Pitfalls Stay as little as possible when speaking with insurance companiesGetting estimates from contractors can lead to delays and haggling over line itemsWhen selecting a public adjuster, consider their experience, specialty, and references   [19:58 - 25:45] The Benefits and Risks of Hiring a Public Adjuster for Insurance Claims Insurance companies cannot raise premiums based on hiring a public adjuster or a single claimPremiums are based on area, age of home, the chance of loss, etc.One public adjuster firm should be enough for investors and landlords   [25:46 - 31:00] Closing Segment  Best investment: all the rentals Andy has purchasedWorst investment: trying to grow too quicklyThe most important lesson learned: not giving up Quotes:   "The less you say, the better it is." - Andy Gurczak   "More and more people are using the help of a public adjuster to not only maximize their claim but take the stress and settle the claim quickly." - Andy Gurczak   “You have to make a step every day. But not every day is going to be perfect. You don't need motivational speakers or all this other stuff to motivate you. You just gotta keep doing it and just not give up." - Andy Gurczak Connect with Andy! Phone: 7086554186 Website: www.AllCityAdjusting.com Email: info@allcityadjusting.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Track your rental property's finances with Stessa, go to www.escapingwallstreet.com.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Today, we are joined by Ben Reinberg, a highly successful commercial real estate investor who owns over $500 million of properties across the United States. Starting at a young age, Ben has honed his commercial real estate investing expertise, focusing on asset classes like industrial and medical properties.    In this conversation, he shares his insights into the market trends that have shaped his investment decisions. Ben emphasizes the importance of flexibility and adaptability in navigating changes in the real estate market. Ben also stresses the importance of personal development in achieving success as a real estate investor. He shares his routines that involve meditation, yoga, journaling, and consistent effort. Throughout this engaging conversation, Ben highlights the need for constant action, strategic planning, and a long-term perspective in building a successful real estate business. He offers solutions for higher interest rates and emphasizes fostering relationships through old-fashioned communication methods like calling and texting. Tune in to this insightful episode to learn from one of the most successful commercial real estate investors about how to succeed in this exciting field!   [00:01 - 07:29] Opening Segment Welcoming Ben to the showBen's company, Alliance Consolidated Group, manages office, industrial, retail, and medical office properties across the USBen is also building his brand through social media and his podcast   [07:30 - 14:28] Insights on Market Changes and Staying Ahead of the Game Key to commercial real estate is the ability to hold through cycles and protect the downsideShifting from office to industrial, retail, net lease, and medical propertiesRetail has soft spots due to online shopping and lack of density in certain areasThe general office is challenging due to the remote workforce and loss of human connection   [14:29 - 19:31] Preparing for Higher Interest Rates Real estate investors should have a plan for higher interest rates in the futureRisks of higher interest rates include debt service coverage ratios and property appraisalsSolutions to these risks include creative refinancing and good relationships with lendersPersonal development is vital for success in real estate investing   [19:32 - 26:20] Ben's Secrets to Success Through Personal Development and Relationship Building Eliminate fears and self-disempowering talkFocus on personal development and love for oneselfLook for lessons in everything, seek the truthBe open-minded and listen to different perspectivesSet monthly, yearly, and three-year goals with commitment and accountability   [26:21 - 33:50] Closing Segment Best investment: investing in yourselfWorst investment: investing in the wrong peopleThe most important lesson learned: focus and lean on your relationships Quotes:   "The key to commercial real estate is the ability to hold. And if you can hold, you can ride through different town turns and cycles." - Ben Reinberg   "The key to goals or anything in life is being committed. But the most important thing is having someone keep you accountable." - Ben Reinberg Connect with Ben! Website: www.alliancecgc.com  Personal website: www.benreinberg.com Podcast: https://podcasts.apple.com/us/podcast/ben-reinberg-i-own-it/id1626923659  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your terms.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Nick is an expert in ground-up, high-rise, multi-family development strategy with years of experience. In this episode, he shares his insights on the benefits of building a Class A property and why it attracts the best tenants while having lower CapEx expenditures. Nick emphasizes the importance of community building and working with neighborhoods during development. He also mentions that the target exit strategy varies by property, with some investors opting to hold long-term and others choosing to sell in hyper-growth markets. It's all about understanding the market demand and knowing when to strike.    If you want to learn more about developing high-rise properties, this is the episode for you! [00:01 - 06:38] Opening Segment Introducing Nick to the showNick's strategy and what to look for in dealsBuilding class-A properties attract the best tenants and provides a more stabilized productCommunities are built in conjunction with neighborhoods and are good stewards of the land   [06:39 - 12:47] The Journey to Building Skyscrapers Nick discusses his journey of building larger apartment complexesNick took eight years of experience and market knowledge to get into high-rise developmentThe process involves acquiring land, pre-planning, and understanding construction costsHigh-rise developments have a longer timeline, typically two years for pre-planning and 18-24 months for constructionInvestors are not brought in until after pre-development work is completed   [12:48 - 21:35] Finding the Right Market for New Development Projects Local government and permitting office knowledge is crucial for new development projectsRising interest rates require a comfortable interest reserve and price stability in construction materialsStudent housing vs. class A development depends on the market and university stabilityAmerican campus communities' acquisition shows a positive outlook for the student housing industry   [21:36 - 28:14] Closing Segment Best investment: the real estate that Nick holds on toWorst investment: mismanagement of building a house The most important lesson learned: getting started early Quotes:   "If you're looking for a new market, the starting point is looking at that local government's website and then making some phone calls, going and having some meetings with the infrastructure or permitting office just to figure out what incentives they have." - Nick Simpson   "I think the worst deals can unravel from the people behind them. Partnerships are important and making sure that the right people are involved because that can certainly cause things to go the wrong way." - Nick Simpson Connect with Nick! Website: www.mentiscapitalpartners.com Email: nick@mentiscp.com  Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/   Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your terms.   Join our Passive Investor Club to access passive commercial real estate investment opportunities.   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.