#26 Growing an Apartment Portfolio Quickly with Chris Pomerleau and Collin Schwartz
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Itunes – www.TonyJavier.com/itunes
Guest Bio: Chris Pomerleau and Collin Schwartz
Chris’s personal mission is to help people live a better life, which is why he began his career in family law. He is also an equity manager of over $46MM in assets under management and helps others achieve freedom with passive income by investing in real assets.
Collin is the founder of Brick Town Management and the co-founder and operations manager at the Park Ave Capital. He is a real estate agent in multi-family residential real estate who currently owns and operates 30 residential units.
Join my conversation with Chris and Collin to learn more about their commercial real estate and syndication’s journey.
More about them – https://parkaveinvesting.com/
Welcome to today’s episode. We have Chris and Collin on the line. They are successful real estate investors in the commercial real estate world. They do syndications, they do apartments. They do a lot of stuff in the Midwest which is my background or my playground, I guess if you will. So I look forward to talking high level about commercial real estate and syndication. So let’s jump into it, how you guys doing today.
Awesome. Thanks for having us. Appreciate it, Tony.
Doing Great, Tony. Thank you.
Good man. Good, good. Well, as usual, I like people doing high-level stuff. You guys own hundreds of apartments. You guys are doing some great things, so I guess I’ll let you guys start. So tell us I guess a little bit about how you started a little bit of your guys’ background so that uh the listeners kind of know where we’re coming from and we’ll dive in, dive into some good topics.
Okay. I’ll get started with this. So just a little bit of background about myself. I live in Omaha, Nebraska moved out here about 13 years ago. Family-Wise have three kids under the age of five, a wife we’ve been married for six years now. So that’s kind of me personally. Real estate started in 2017. I was at an insurance company working in it as a project manager, similar story to a lot of people, you know, great job. The dream nine to five anyway, picked up rich dad, poor dad kind of mind shift happened, started reading additional books on real estate finance. Ended up partnering with an individual outside of Chris who’s on here. But actually this individual, we all partnered together, his name’s Steve, and Sykes partnered on our first deal, a triplex, and then continued just to get properties from there. Did a little bit of did some small letter campaigns created a meetup and started a property management company. And then Chris and I partnered to create park app capital, which as you described as a JV syndication, real estate investment company.
Yeah. So within anybody’s real estate business, there are many different components. So there’s the finding, finding deals, there are funding deals, and then there are the operations and just kind of, the backend fulfillment. So a lot of people have trouble finding their first deal. And I think commercial real estate for the last several years has been like the big thing for like residential investors. When they have some success with residential, they go to commercial or some people just want to jump into commercial real estate Cause they want to do hundreds of units at one time, as opposed to doing, you know, one of three units at a time. So I guess, talk us through that. What has been some of your if you could give the listeners some, some nuggets, what are some best, some of the best ways that you have been able to acquire properties and find your best deals?
Oh, I’m going to let Chris, do you want to jump in on this, and then I can add to it as well?
Yeah, sure. I think it’s just really trying to stay top of mind. Right? So like at first it was hard to be taken seriously by most people, right. We’ve never had it never had a deal. People didn’t know who we were or we didn’t have bank relationships just, we didn’t have broker relationships, but it’s just kind of staying top of mind getting that one deal, getting a two duplex, getting a four-unit buying a 20 unit, buying 80 units, showing that you can actually follow through on stuff. And then once you start doing that, you’re obviously lining the pockets of the agents and that keeps you as somebody top of their mind that this person is going to close. I’m going to bring them deals. So that’s how you stay in the agent’s mind. I mean, Colin has a meetup. He mentioned over 1900 members now probably over 2000, I guess, right here in Omaha. That’s a great way. That’s really helped us. He’s got a lot of connections through that. We found many partners, people who are investing with us, people who bring us deals. So that’s another way that we’ve really stayed, active and, then social media, um, here it’s LinkedIn or pushing out Instagram stuff, Facebook stuff, the meetup has a private Facebook group. So it, you know, it wasn’t like that day one because no one knew who you, who you were, but, uh, continue to close deals and close deals and keep investors happy and you just continue to get more and more. I mean the flood Gates just open.
Yeah. And I think something just to add onto that if you’re looking at the day, one is being prepared. So you may not have a deal, but at least be prepared to have those conversations, meaning that you’ve already spoken to a banker, you understand what a cap rate is, you understand, and you have, I guess, where you can focus on if you’re limited to a certain amount of capital that basically limits the deal size then you limit your area that you’re looking at. You’re, limiting the class of project you’re looking at. You’re looking for heavy value-added service. So understanding that that really helps you get over the initial hump because you’re laser-focused. So when you’re having conversations, you can be very specific. So that whether it’s the banker, the broker, or the fellow investor, you are, as Chris said, you are top of mind and you’re top of mind because you have a very specific ask.
And what do you think is the biggest thing for you guys getting started? Was it more finding the deal? Did you have to put, did you feel like you needed to put the money together, at least part of the money together before you found the deal? As for residential, my philosophy is to find the deal. The money will come. Like if you can find a good deal, the money will come, you can figure out how to find the money. Would you say it’s the same thing with commercials? Or do you feel like because it’s bigger numbers that you need to be able to be more prepared on the funding side of it?
I mean, I think if it’s your first deal, it could be difficult to raise $3 million. If you’ve never raised, if you’ve never had a deal before, right. Taking out a $10 million apartment, you can say it’s a great apartment. That $3 million may never find you because you don’t have any experience. I can tell you, I did jump in Tony. The same way you did is, or from what it sounds like is that my first deal we’re basically a single-family duplex. I found the deal before I had the money, but the money I needed to find it wasn’t 3 million. It was obviously a lot less. So I think it’s, it kind of depends on where you’re at in your experience and the process, because now they’re having to happen simultaneously. I mean, we’re out there raising for deals either we have, or we don’t have every day but we’re not putting offers on places until we have the money. We may just have to figure it out. And that’s just, it kind of happens simultaneously, but for a beginner, it’s probably most important, especially for the residential forum below or at least a lower capital raise, just find the deal. That’s what I, that’s what I would suggest anyway.
So let’s say a 40 unit apartment building. If someone’s going after something like that, I imagine you probably need to have a little bit of the financing lined up, or at least an idea that you can get the deal closed before you put that kind of deal together.
I mean, I would suggest that because your chances of closing are a lot better. I’d hate to see you find a great 40 unit deal and then find out four or five weeks in the bank won’t fund it, or they won’t fund you. Or you can’t find that $2 million, you could have found 40,000 for a single-family home, but you might not be able to find that 2 million. So I think it just kind of depends on how big you’re going off the bat and your experience.
Yeah. For me and, you know I wish I, didn’t worry, Tony. I wish I didn’t start off like this and maybe this is a limiting belief, but I looked at the money that I had, and that was the gauge of what the max I could buy. And that kind of limited me. But it gave me an actual benchmark to look at. I knew that with what I had, that’s what I could purchase. Now. Things have changed a lot with Chris and me, you know, because we do have investors, etc. So we can, now it’s not what we have. It’s what our group collectively has and what the deal looks like. But yeah, I mean chicken before the egg, I wish I would have known more because I probably would have looked at bigger deals and started preparing for those bigger projects earlier.
What are your criteria like, do you have specific criteria of like, it needs to be in the Midwest and needs to be a certain amount of units needs to be a certain rent? Like, do you have specific criteria you’re looking for? Is it more about the return or the cash flow? Like, is there, like, tell me about your model and what makes a deal to you compare to a deal not being good to you?
We prefer the Midwest because we’re comfortable with the Midwest and that’s where we started. It’s not that we wouldn’t invest outside of it, but there are just certain parameters you have to add to the end. Do we have some boots on the ground if we’re investing in Portland or someplace random that we haven’t invested before, or do we have someone on the team, whether it’s the GP team or something that actually has some type of background in that area? I would never say never, but any worst, extremely comfortable in the Midwest, our parameters certainly would be B and C class, something with some value add that allows us to just force, appreciate the asset. And we’re very comfortable in the Midwest, but we’ll invest outside of the Midwest. It’s just going to take a couple more boxes to check, but for the most part, if you, you know, on the back of a napkin or at a cocktail party for of what we invest best in BNC class value, add opportunity certainly 40 units and above, and that’s kinda what we look for.
And do you plan on holding those long-term or is it more of you want to get the upside, you want to get it stabilized and then a year, three years, five years sell it, like, what’s your, what’s your exit strategy?
Yeah, I think the reason we’re, we’re kind of different than others and that we’ve gained so much attraction and so much attention from our investors is that I feel as though it’s kind of the best of both worlds, we will force appreciate that asset and we’ll refinance and we’ll pull all the cash out. And so our goal is to pull out a hundred percent of what we put in, and that is a three to five-year plan, right? And we’ve done that now successfully 20 times. Then, the goal that if we, if the investor put in a hundred thousand dollars, three years later, they get a hundred thousand back that entire time they were receiving cash flow. And then after that three years, they get a hundred thousand dollars back they can do with the hundred thousand whatever they’d want to the next deal, buy a car, whatever, but they continue to stay on as an owner of that asset. And they continue to get cash flow, which would be indefinite cash flow because they don’t have any money into the deal. And it kind of allows people to scratch that itch of getting into real estate investing, as opposed to just like a short-term flipper. There’s nothing wrong with that call. And I had made very large checks on accidentally flipping small multi-families and even single families, but it is nice to have. And what we really push that our thesis is you want residual income. I’m not, I’m certainly not going against anything Tony’s on the past because Tony, Tony’s got a fricking great job of it. But once I’m done flipping that 402nd house that I’ve flipped, I’m not making any more money unless I flip by 403rd house. And I think one of the benefits that just this is the prison through which we view our investments is that it’s nice to know that after that a hundred thousand dollar investor comes to us and invest a hundred thousand dollars and they decide to never invest in real estate, again, they’ll earn income and their wife or their husband and their offspring and their estate will earn income on that asset indefinitely. And that’s just our mindset that we like that we feel comfortable with and that we push
I like that. I like that. I, I know a lot of other people that, that, that have that same model in the commercial real estate field. Some people keep ownership with those investors and some cash them out and pay them, you know, maybe giving them a little bit of a nice payday for their time, you know, 20, 30, 50% return, whatever the number is. So that’s great that you keep them on and keep the cash flow. And that’s a great model. What is your long-term game? Are you guys looking, just keep doing what you’re doing and acquiring the same types of properties. Do you want to expand nationwide where you go into bigger markets? I’m just always curious what people’s, I don’t want to say in-game, but I guess long-term future goals are uh with their investing, investing portfolios.
That’s a Collin question.
I think that’s wilderness. Yeah, I mean, that’s something that, you know, looking back four or five years ago, it would be hard to picture where I am now. And I think that’s for all of us. What I can tell you, what we are doing is, so our primary market is Omaha, or, you know, really well, it just, like many markets, there’s only so much product here. So although we are top of mind in many avenues, we started looking outside of the state, outside of the area. So we have in venturing into, you know, other Midwest markets, whether it’s Sioux falls, maybe it’s within 300 miles from our home base. So we’re in Missouri Tulsa. No, we are looking at those different areas and I think it is to continue to build that up. You know, we do have some other ancillary businesses we do when money as well.
So that kind of feeds into just our business of, you know, we find more real estate through it, I guess, every additional connection, the property management company looking at starting a brokerage soon. So I think just continue to expand and I guess get better and better at our operations but really focus in the Midwest and continue to build up our portfolio. I mean, we could always give a unit count. Yeah, we’re looking to double in size this upcoming year, but, you know, there are all sorts of events that can occur, but I think just continuing to build out our business refine our processes, and kind of stick with our criteria and keep kind of doing similar things and adding that vertical integration.
Yeah. And I know that we’ll invest outside of the Midwest. We’ve already had a couple of deals under contract, and we’re actually looking at a pretty enticing one right now. That’s out of the Midwest and we’ll continue to grow. It’ll it started in Omaha, then Kansas City and Sioux Falls and Tulsa, and soon Southwest, and it’ll grow, it’ll take time, but we’re certainly open to that because in the end, as long as the asset makes sense and it pleases our investors, and of course it helps us we’ll find our way there.
So I know that you know, you guys have scaled up pretty quickly in a short amount of time. Right. So what would you say are the keys to doing that? Like, is there, you know, one or two things that are like, man, you know, these things happen and if they hadn’t, you know, we wouldn’t be nearly where we are, so that’d be one side of it. And then I’m also curious what kind of big hiccups you guys have had to overcome that have helped you guys I guess, to grow because anytime you have an obstacle, you know, you, you get over it and so you learn a big lesson from it, and then, you know learn not to do that again, you know, for instance. So I guess start with the success side of it. What are some things that you could say are things that have helped lead to your success that if you were to give that to a newer investor that you would tell them to do
So, it’s kinda top of mind since I’m reading this book and this is before I didn’t even really think of it this way, but who not how? I think that’s, what’s helped Chris and I, whether it’s through each other’s partnership, finding mentors, you know, now having employees for our property management, for our investing business, allowing us to focus on our, I guess, focus on our high dollar tasks and being able to recognize those now that’s something that’s, you know, we’ve had successes and failures with, you know, hiring the wrong person, hiring the wrong company to help us. But overall I think that has, really helped us. So I think anybody that’s asking who not how, if you keep asking how you’re going to be drafting your own legal docs are going to be your own CPA, you’re going to be doing your own marketing. You’re going to be doing your own fundraising and it just it’ll limit you. So finding those around you partnering basically,
I mean, partner for sure. I mean, don’t be, do not be selfish with it. Do not expect to have the entire pie yourself. There’s no reason there’s no way we would have gotten to where we have just in the short amount of time we’ve done this unless we were willing to kind of spread the wealth and soak up the knowledge of our partners or people we’ve learned, we’re learning from the share in some of the asks are sharing some of the returns and whatnot with different partners, bringing capital or bringing deals, or, you know, relying on people’s different backgrounds what they’d done, but, you know, not trying to keep it all to ourselves. I think bringing on and kind of that abundance mentality is huge. If you want to succeed.
Yeah. So it’s interesting. You said, who not how I’ve had that conversation so many times in, some of the podcasts I’ve done, and then I host real estate masterminds as well. And we talk about that a lot. And that’s where you get a lot of your leverage. I wish I would have learned that the first 10 years of my business, it was always me like, how do I do it? How do I dive into it? How do I create the spreadsheet? How do I, and it’s like, now at this point, it’s like anything. I have, I play hot potato with it. It’s like, I don’t want to be the one doing it. It’s like, I need to find the person that’s better at me than doing it. Or they can do it while I can do higher leverage or higher dollar, activity. So it’s interesting that you know, the conversations that I have with high-level people, they say the same thing. It’s like, how do we get other people on our team to help grow the business and do things, at a higher level? And do you know, the business owner is the one that needs to have the vision and do the things that, drive the company? And then all the other things need to fall within a team that, that takes a lot of those things on. So.
What helped you learn that what helped you learn it?
What helped me learn it? What helped me learn it was stress and burnout? It was like, I was doing, like, you’ve seen the organizational chart where it’s like you on top. You, you, you, you, you, you like, and even when I filled in with people like it’s still like, it still didn’t like pan out the way that I wanted to. So 10 years ago, I hired a coach that had a business like mine, that didn’t look at properties. Didn’t put them under contract didn’t manage the contractors. And I’m thinking to myself, how does, how is that possible? Like, I feel like I need to put the properties on the contract. I feel like that I need to manage the contractors and manage these, you know, $50,000 budgets on all these properties that I’m doing. And when it comes down to it is, is that you know, five years later, I built out a team that did all of that for me.
Now I live 2000 miles away from my business, and I can, my business continues to grow while I work a few hours a week on that business. And now I’ve got other businesses that I run. So it seems like a lot. And that’s why I asked you if there are any things you had to overcome that were bad, that taught you a lesson where, you know, you learn something out of it. And 10 years ago, I had to fire my whole staff because it was the wrong people and all that. And I’m glad that happened. I hit rock bottom in my business, like mentally, because I was so frustrated with it, and it just what’s the term for it. I guess rock bottom is the best thing. It’s like, you hit rock bottom, you gotta figure out how to build yourself back up and, and be better for it. So it was a lot of pain and suffering.
Well, I’m glad we’re learning that before the 10 years Mark.
Totally man. Totally. Yeah.
But still having the wrong people. I mean, we still have had that, whether it’s, you know, employees or contractors, those definitely the biggest issues. So when you get wrong, hire
Yeah, and it’s going to happen, I mean, some of its trial and error, it’s like, you know, we have a really good hiring system. I feel like we do, you know, behavior profile assessments. We have them fill out a detailed application. Like we have them go through a bunch of stuff before they even talk to us. So that weeds out a lot of, you know, just tire kickers and things like that. And then you know, I feel like we’re pretty good at reading people and checking references. I mean, so we have like a pretty good system, but things happen, right? I mean, you could vet someone for three months and hire them and all of a sudden they get into the business and you realize they’re a jerk to everybody, you know? And so so yeah, I mean, it’s a lot of a learning process and just figuring out how to build those systems. And, and I think culture is a big thing. I just, we just talked about that in a call a little bit earlier, go with a bunch of investors is that, you know, you have to build that culture for your business. And if you don’t have a culture for your business when you hire someone and bring someone in, whether it’s a subcontractor or an employee, it’s like for us, if they don’t fit within our culture and have our core values, and we don’t, we don’t want to do business with them. You know, if we feel like they’re hiding something, if we feel like they’re, they don’t collaborate. Like our team works really well together. Like we get things done, we don’t talk behind each other’s back. We, help each other when, when you need help, rather than saying, you know what? I got my own stuff. I don’t have time for you. It’s like we have this culture that when we bring people in, in any aspect of our business, that, if they don’t fit in that culture, then, when they’re not a part of our team. And if I look at the first 10 years, I want to say all the hires, but most of the hires I made, if I had that standard in place, I wouldn’t hire those people for sure.
Hmm. That’s great. Yeah. That mak.
Es sense. So so I guess let’s expand on that a little bit. What about you guys? Like, what are some key, who were some key people in your organization or within your network that you feel like, have been a huge help to your business? So I mentioned 10 years ago, I hired a coach. That was where I wanted to be. And within a short amount of time, I was able to build my business similar to his, where I wasn’t working in the day-to-day operations of the business. So there’s that aspect of like mentors or coaches and things like that, but then there’s also maybe people inside of your business. So are there some key people, or some key, I guess, key people in or outside of your business that you feel have been instrumental, to your business? And, tell us a little bit about that.
Well, not to, not to give him too much credit, and I know he’s sitting right in front of me, Chris, but honestly I would not be nearly where I am without him. The types of tasks that we handle are the opposite of what I like to do. Have I done some of those tasks before? Yes. And I’ve hated every second of it. He enjoys those tasks for some odd reason, but he’s really good at them and does a great job. So that’s, I mean, honestly, a good partner’s huge my staff at the property management company. And I think with the culture that’s really important. We, we instill no excuses, meaning that it’s okay to screw up. We all mess up. We always do something wrong, but own it don’t have excuses and what can we do together to figure out the solution? I make mistakes. They all make mistakes. And I think our staff right now has a really good mentality of that. Just the, just the always wanting to learn, I should say, and being able to risk a mistake, not staying stagnant. So
What you’re saying is Chris has all like all the successes for Chris due to Chris.
I thought, I thought that’s what I gathered from that,
The same thing as a Monet. He’s got a Monet in the background
I don’t know what else to add to that. I mean, it’s I just want to thank myself really. No, honestly you know, not to do this scratching back thing, but Colin, of course, I think one of the benefits is that we, we certainly have that we don’t, You know, are they compliment each other for sure. Right. And we continue to push and push and push. I mean, I partner with many people who certainly would have stopped after the first 10 million under asset or after the first a hundred units. And there’s nothing wrong with that. If that’s all you want and you want to continue doing something else, that’s your main job or something, that’s fine. But the growth mentality to call it. And I have had, and building this business and continue to help more and more people and ourselves, of course, build the business. I think I could not have asked her about her partner in Colin. Colin mentioned somebody earlier named Steven Sykes has been great throughout this as well. He was Colin’s first partner. He’s been my partner on a number of items. He’s been our agent on some items and we’re partnering more and more.
So he’s been great as well. And then really just the ability to just continue to network. And hopefully I, we can give through whether it’s speaking in meetups or on the phone calls or these people we’re talking to, hopefully, we can give them nuggets of knowledge to people, because I know that we have grown so much because we have soaked up so many nuggets of knowledge from different people, whether it’s through phone calls, listening to podcasts reading books and just sharing what we can with people. And you know, finally, I guess, coaching, as you said, I’m glad I got the coach that I did. You know, Colin’s worked with different coaches that we both have actually, and, you know, success leaves clues is what the, one of the things the coach said to me, and also just try to turn decades into days. Like if I could rewind what I’ve done I would have started in 2008. That’s when I read rich dad, poor dad. And I was in the middle of law school in the mornings I was in the army and at night I was getting my master’s in negotiation. And so I certainly didn’t think I had time to now jump into real estate. Now knowing what I know I would have jumped in, I could have jumped in. I should probably ask who not how, and I would have started in 2008. And I think that would have been a phenomenal time to start because then I would have been able to take advantage of perhaps some low-hanging fruit for the next four years, but I wish it would have started earlier. But anyway, the reason we’ve been able to grow so much as for all the 17 reasons I just said,
Yeah, I have a, I have someone she’s not a partner. I consider a partner, but my sister, I hired her 10 years ago. In fact, that was when I fired my full staff. She was my next hire. I’m like, I’ve got to hire better people. And so I paid her twice as much as the, one of the people that I was paying before, but that was the change in my business. It was like, I didn’t have to worry near as much about employees quitting or stealing or, you know, whatever, all the other issues that I had because now I had someone that I trusted. So it sounds like Collin with Chris, you kind of had the same thing where you know, he came on taking things on that you necessarily didn’t like to do was really good at and just took it to another level. And I think once you get that one key hire in place, it’s like, you can have a really good hire and it goes in one, which is like to the moon potentially. And then you have bad hires, which is what I had for the first 10 years. And you’re like, you can pull your hair out. Right. So having good people on your team is super crucial. It’s not just that it’s just not who you can put in there, but it’s who the good people can have the fin in your culture that can do a good job in and fulfill the role you need in your business.
Paula is like my little sister, basically,
There you go.
And you know what we did,
I thought Tony said, I thought Tony said you were my employee too. So
I think one of the things that we’d be remiss not to mention is that I, since I know I can speak for a call when I say this is a should probably think, someone has been instrumental in both of our lives, our wives, our respective wives. We have color. I talk all day every day, whether that’s annoying or not, it’s certainly as annoying. It can be annoying to our wives because we’ve dedicated so much time to building these businesses. It’s not that whole sitting on a beach. I own a real estate thing. It takes a lot of work. And certainly, the fact that they’re allowing this and they see our vision as well has been huge for us. So,
Yeah, totally. Do you have any kids, Chris?
I have two kids. Yeah, two kids under two,
Right? Awesome. Yeah, that, puts another element to it. Right. I’ve got a one in one and a half-year-old boy and you know, it adds, it adds, it actually makes like, even though I work less, so like, I, I have a hard stop at five. Like I promised my wife I’d be home at five every day. And so it allows me to shut off and compact everything I have within like an eight-hour period. Whereas if I didn’t have a kid and a wife, I would like probably work a lot later just cause I, you know, that’s my mentality. But yeah, it’s cool. It’s, you know, it’s having something outside of the real estate to look forward to. And especially if you have a family that supports you, that’s super important. Definitely. Cool. So I like to keep this to 30 minutes. We’re, we’re getting to that time. I’ll kind of turn it over to you guys. Is there anything else that you guys want to, I guess give to the audience that could help them in their real estate investing career?
Go ahead, Collin.
I feel like we’ve already touched on it. Is teaming up finding a partner or finding a mentor? If you’re in, even if you’re in the middle stages, I think it’s important to continue that growth. I mean the most successful people have multiple coaches. It feels like the more successful you are, the more coaches you have, cause you’re trying to better yourself in multiple areas. Uso yeah, trying to get into it, get into a coach or find a mentor. But you also have to provide value. They’re not going to hand you something. So just make sure that you know, go out there, get the education, and, and see what your value is. We’ve all got something to provide. So, you know, it’s, you know, capital time or experience and then there’s, you know, layers underneath that. So really kind of dive into what you have and, what would be a good compliment for you, But I am a big proponent of partnering.
Yeah. I mean, even though it’s already been mentioned by calling already, coaching is huge. I would hire a coach hands down. That’s the first thing I would have done back in Oh eight. I would have saved thousands if not hundreds of thousands and made hundreds of thousands, if not more millions of dollars had, I just paid someone a little bit of chunk of change upfront to teach me. So I didn’t have to teach myself. So I’d have to like look for this time during the day. So I can listen to 14 podcasts to try to teach myself something. I think that coaching is huge sometimes as a tradition where coaching is a, maybe a little bit too expensive. I don’t, I don’t think it’s too expensive at all. What I’m saying is for an individual to be able to find or come to terms with actually spending that money, I think it’s worth it. But if they can’t get over that hump for some reason, I think it’s just offering something like Collin said, offering something of value. So someone can come to me and say, I don’t have a dollar to my name, but I did have a cell phone. And I was able to contact the owner of a 78 unit down the street. It’s off-market. They will sell to us well, now that person doesn’t have a coach, they can probably jump on this partnership because they’re bringing us the deal. They can learn from us throughout the process. And they did all of that by just providing something of value. And I think that people don’t understand that it doesn’t take money, always. It’s just, everyone has something to offer and fun, find out what you can do to be a part of it. I guess
One thing I wish I would have done and people ask me this all the time, like going back 20 years ago, when you started your business, what would you do differently? And the thing that comes to mind, you already said it like I would coach mentor that kind of thing, but I will probably be coming out of college. I would have worked for someone that was doing what I wanted to do because you’re getting paid for it. You’re getting to learn their system. You’re getting to learn the business and that person would hopefully become a mentor to you once you go out on your own. So that’s, a piece of advice that I give to a lot of new investors. If they, you know, can’t find a mentor or, they’re not real, set on their path, you know, like if you’re an attorney or something like that, be kind of hard to maybe switch into, you know, getting an entry-level job in real estate. But a lot of younger people coming out of college and things like that, they want to learn the business. I definitely recommend them working for an organization that is doing what they want to do. Cause they can get a lot of good hands-on experience and make money in the process. So. Awesome. Well cool, Chris, Collin, I appreciate you guys congrats on your success over, you know, the short amount of time you guys have been doing this. You guys are scaling up quickly. Anything I can do to help. I’d love to be a part of it. Collin and Chris, do bring on investors passively. So, if you guys are interested in investing, we’ll put a link in the chat notes for you guys to connect with their company, and look forward to connecting with you guys again.
Awesome. Thanks for having us. Appreciate it.
All right. Thanks, guys. Have a good one. Talk soon.