Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires

Welcome back to Small Axe Communities Podcast!

We are back with the second season and Third Quarter Wrap Up episode of The Accountability Series.  All of these participants have a variety of levels of experience in real estate, but not necessarily in commercial multi-family real estate. And that's what they're looking to do breaking into that space

Nico meets with each of the participants once a quarter to track their progress. The objective is to see what it takes to become successful in this space over a year. Every quarter we come back and listen to what progress they gained, acquired, and learned! Let’s listen to Christina Kovacs, Dr. Nancy Huynh, and Chris Southerland Jr as they share their Journey with us! 

[00:01 - 16:10]  Christina Kovacs’ Segment: Implementing CapEx Budget 

• Christina and her team made 54 unit deals in Kansas City, Missouri, which were completed with four other partners.
• The deal was underwritten for a 5% annual increase and the property is in a good area.
• Christina is working on a business plan to implement the CapEx budget over the next 18 months.
• The recent purchase of a property is described as a C property due to being vintage and location.
• the process of purchasing the property and the difficulties encountered along the way, including a disagreement over the terms of the loan.
• Christina plans to take advantage of the current market conditions and make a profit by booking reservations for future stays in the property.

• Follow Christina Kovacs
• • See Links Below

• Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you got to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [email protected] to get the code that you can use to avail of a discount!

[17:33 - 32:39] Dr. Nancy Huynh's Segment: New Partner and New Deals

• Dr. Nancy is working on a project in Cincinnati. They are renovating the exterior of the building and migrating to a new investor platform.
• She is also finalizing terms on a partnership with another female investor to purchase a historic building in Dayton, Ohio.
• The 132-unit project is her main focus, but she is also syndicating deals.
• The Midwest has a lot of features that make it a good market for multifamily development
•  Dr. Nancy partnered with a female from Dayton, Ohio, that is familiar with the market
• They are converting an empty property into 18 units of multifamily housing
• Many factors go into choosing a location for multifamily development, and it is important to analyze the submarket and street level as well
• Follow Dr. Nancy Huynh 
• • See Links Below

[32:39 - 44:07]Chris Southerland Jr. Segment: Bringing Capital Through Cybersecurity 

• Chris Sutherland Jr. has been working on deals and learning about real estate from the people he's been working with.
• He is also focusing on cybersecurity so he can bring in money through that.
• He plans to transition away from his current job eventually and focus on real estate full-time.
• He has been working in cybersecurity for eight months 
• he also has a bachelor's and master's degree within eight months, which makes them very hireable.
• Chris considers himself a pen tester, which is someone who hacks into systems to find vulnerabilities

• Follow Chris Southerland Jr.  
• • See Links Below

CONNECT WITH THEM:

Christina KovacsFollow her on Facebook and LinkedInVisit their website https://www.christinakovacs.com/

Nancy Huynh, MDVisit their website https://clearvisioninvesting.com/ You may also email her at: [email protected]

Chris Southerland Jr:Follow him on Linkedin Reach him through his email at [email protected]Visit their website  tryhardcapital.com

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes

“I start implementing capital raising, and I wanna learn more. So that's been my big thing in building out my website for that. And just keep joining all the networking calls and in-person networking events and putting in all those efforts. It's just been so crucial to continuously network.” - Christina Kovacs

I think it's so important within the market to analyze a submarket, but then even further go down to the street level, to the neighborhood level, and understand. Where you're investing and what you're investing - Nancy Huyn, M.D.

“I like to start somewhere like that, but honestly,  I'm not in a rush to add any more stress to my life. Like a duplex or something that's not going bring me a significant amount of money, but bring me a lot of stress, So I'm totally fine with just keeping LP and learning and making my money grow.” - Chris Southerland Jr.

You may also listen and access the podcast through the link provided:

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Welcome back to Small Axe Communities Podcast!

We have reached the end of the third quarter of the year, and in this episode, we are back with The Third Quarter As An Active Real Estate Investor (pt.3) | Accountability Series Podcast Season 2 All of these participants have a variety of levels of experience in real estate, but not necessarily in commercial multi-family real estate. And that's what they're looking to do breaking into that space.

Nico meets with each of the participants once a quarter to track their progress. The objective is to see what it takes to become successful in this space over the course of a year. Let’s listen to Alex Tam, Michael Sanchez, and Bob Mastroianni, as they share their Journey with us! 

[00:49 - 17:19 ]Alex Tam’s latest Joint Venture Business and his Experience using VA services to save time

• Alex talks about his latest business venture - a joint venture with another MIH member to buy apartments in Lincoln, Nebraska.
• make sure that the net worth of everyone involved is at least the amount of the loan, and they also help with asset management.
• Building relationships with investors and providing them with information to make informed decisions about investing.
• Virtual assistance can help you save time and money
• Alex has 10 full-time VA’s that do blogging, social media management, and video editing
• VAs bridge the gap between real estate investors and other business owners.
• Follow Alex Tam
• see the links below! 

[17:19 - 18:40] Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5

MM5 will be held in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you got to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [email protected] to get the code that you can use to avail of a discount!

[18:41 - 39:10] Michael Sanchez's Seller Financing Becomes More Accessible

• Michael Sanchez and his wife are working on a multi-family project that will include turning four apartments into short-term rentals.
• The couple plans to use their new cash flow from their rental properties to invest in their business and pay off their personal debts.
• The importance of diversifying one's income stream., 
• Looking to do more fixes and flips as well as wholesale deals in the near future.
• The company is now looking to hire better architects, that can get the project done on schedule for their new partners
• Follow Michael Sanchez
• see the links below! 

[39:10 - 58:00] Bob Mastroianni’s The importance of networking and staying ahead of the curve

• Bob just recently recorded his 20th podcasts episode 
• Bob shifted their focus to smaller 20 - 60 deals after three years
• He recommends focusing on multifamily opportunities
• He plans to attend 2 travel networking events in November one of which is Jake and Gino’s Multifamily Mastery 5
• And he also plans to participate in a Boot Camp in December.
• Follow Bob Mastroianni
• see the links below! 

CONNECT WITH THEM:

Alex Tam:

Follow him on Facebook and LinkedIn

or email him through [email protected]

Michael Sanchez:

Visit their website https://mtinm.com/

Call him through 5055072358

Reach him through his email at [email protected]

Bob Mastroianni:

Follow him on Instagram

or email him through [email protected]

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes

“With VA’s You can build an enterprise, you can build a group of people that are working for you, an actual company at a fraction of the price. And some people say, Well, we need to keep it here in America, but we also need to help people around the world. And by hiring somebody, even though it's a lower price point, you are really truly helping them out in their home.”

- Alex Tam

“At the end, on the exit strategy you'd be looking at a REFI, but you want to let the seller know, that it might be more of a long-term play, especially right now, you're not going to try refinancing out until the rates go down.”

- Michael Sanchez

The positive really outweighs the negative. I really am enjoying the conversations I'm having with people. The education I'm learning a lot about different things that people have done on their journey."  

- Bob Mastroianni

Welcome back to Small Axe Community Podcasts! Today we are once again joined by Chris Grenzig.

Chris is a Founder of JAG Communities which is a vertically integrated Multifamily focused investment firm. Chris and His company believe that prioritizing the resident experience and making it as high quality as possible, will lead to an unbelievable experience for all their partners involved.

[00:00 - 07:44]Opening Segment

• Chris Grenzig from Jag communities is a friend of Nico's and they've been communicating for a couple of years.
• Chris started his roots in New York but has now moved to Jacksonville, Florida.
• Since he left Toro, Chris has been buying and renovating small deals.
• In November 2020, Chris bought his own deal and started a vertically integrated company focused on small to mid-size multifamily deals.
• Since then, Chris has bought four more existing deals for a total of 72 units.
• He also has a two-and-a-half-acre site 

[07:44 - 16:10]New Multi-Family Project in Low-Density Town Gets Approved

• A conditional variance to build an apartment was ultimately denied.
• Their backup plan is to build 18 or 19 townhomes on a parcel of land for $20,000 per unit.
• The possibility of rezoning the property to create multiple types of housing, including apartments.

[16:10 - 27:50] Average Rent Increases Mean Deals in Jacksonville Are Becoming More Competitive

• Average rents were around $1,500 per month in 2016, but the property was purchased for $156 per square foot.
• The current plan is to add washer and dryer connections to every unit, stackable units in attic access, and increase electrical service.
• There is a problem with increasing electrical service because a custom meter bank must be ordered and the supplier would not give a price or timeline until the order was placed.
• The goal is to create assets that outperform the market, but not turn around and sell them right away.

[27:51 - 30:27] Closing Segment

• Final words
• Connect with Chris Grenzig. by following him on Facebook, LinkedIn, Twitter, and Instagram or you can email him at [email protected]. For more information, you may also visit their website at https://www.jagcapitalpartners.com/ 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes:

 “I think I do a pretty decent job at thinking about things from the big picture. And what's gonna matter in five 20 and 50 years from now.” - Chris Grenzig 

Welcome back to Small Axe Community Podcasts! Today we are joined by Mike Konstanstas Mike co-founded New Wave Capital and is responsible for asset management, construction management and many of the back-of-the-house activities involved in daily operations. Mike brings a background in construction with over 22 years of experience in custom architectural millwork. His work is showcased and featured in some of New York City’s most famous and acclaimed restaurants as well as the City’s most prestigious office buildings. Mike has over 10 years of experience in residential and commercial real estate investments. Prior to New Wave Capital, Mike co-founded 168 Capital Group, a private equity investment company focusing on multifamily acquisitions. Mike has a degree in Construction Management/Engineering Technologies from the State University of New York, Farmingdale.

[00:56 - 07:56] Opening Segment

• Mike co-founded New Wave Capital and is responsible for asset management, construction management, and many of the back of the house activities involved in daily operations.
• Mike has a degree in Construction Management, Engineering Technologies from the State University of New York Farmingdale.

[07:57 - 15:03] How to successfully syndicate a large number of units in a short amount of time

• Mike Konstantas goes to Greece after 14 years 
• The time difference between his partner made it difficult to work together, so they brought on another partner.
• They decided to take a look at the properties together
• They closed two properties in Columbus in 2020.
• One of the properties they closed was syndicated.
• They sold both properties for excellent returns.

[15:03 - 23:42] Columbus Multifamily property brings in new investors

• Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [email protected] to get the code you can use to avail of a discount!

• The Columbus multifamily property was a syndication, while the Pittsburgh property was a JV deal.
• The Columbus multifamily property is currently in the process of renovating and is expecting to have new tenants in by the end of this year.
• In Pittsburgh, four or five deals have been closed so far and Deron is involved heavily in all of them.

[23:42 - 33:38] Retired but not done: How one family business pivoted to survive the COVID shutdown

• Mike's experience in the multifamily industry, including their first deal and subsequent deals in the space.
• Mike shares about the difficulties they experienced during COVID and how it impacted their business.
• He discussed their decision to retire from multifamily investing and how they are still working with clients focusing on commercial projects.

[33:39 - 36:06] Closing Segment

• Final words
• Connect with Mike Konstantas by calling  (917) 577-2448, or send him an email [email protected]
• Or visit their website at www.newwavecapitalgroup.com

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes:

 “We are looking at different avenues. It's just that in the other assets, it's not we're not looking and doing those alone. We're looking at doing those things with people that are in that space and know that space and can therefore help that learning curve a little bit for us moving forward." - Mike Konstanstas 

In this solo episode of the Small Axe Community Podcast, Nico shares his advice on becoming a successful small axe investor. He recommends focusing on education and trying to find avenues that will best suit your learning style. Nico also recommends listening more than talking. He tells the listeners that they should take their time and invest passively in order to learn what they are doing. He recommends reading books, attending meetups, and connecting with people who have experience in the industry. So with no further ado Let’s dive in!

[00:46 - 06:52] How to Educate Yourself for a Successful Career

• Nico recommends focusing on education to become a better investor
• He recommends audiobooks, podcasts, and YouTube for learning about investing
• He recommends getting involved in a mentorship or mastermind program to connect with like-minded individuals

[06:52 - 14:12] Six Months to Success in the Multifamily Space

• Nico recommends spending at least six months getting educated before starting to invest in multifamily properties
• He emphasizes the importance of being open to learning from others and recommends spending time meeting people in meetups and reading books and watching YouTube videos on the topic
• He also recommends seeking out a mentor or team of mentors to help guide and support you in your investment journey

• Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [email protected] to get the code you can use to avail of a discount!

[16:13 - 18:17] Closing Segment

• Final words

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes:

 “I highly recommend only choosing one market, obviously that limits you or whatever, but it's in the beginning, at least you gotta get to know a market very well or else you could get screwed over. So learn the market extremely well and then begin underwriting.” - Nico Salgado

Welcome back! Small Axe Community! We are joined by Jeff Davis!

Jeff moved from New Orleans to Houston after Hurricane Katrina and found work as a data entry clerk behind the desk at a logistics company. He began working on solving problems for customers and soon found himself regularly in customer-facing meetings helping salespeople close deals. Eventually, he became a sales rep for a large Fortune 200 Global Logistics firm where he has continued assisting clients to this day. He invested his commissions in real estate in 2015 so his "commissions could earn commissions and has seen the benefits of how real estate can help grow net worth. Now, he wants to help others do the same. 

So with no further ado, Let’s welcome Jeff Davis!

• Jeff moved to Houston after Hurricane Katrina and found work as a data entry clerk.
• He began working on solving problems for customers and soon found himself regularly in customer-facing meetings, helping salespeople close deals. 
• Eventually, he became a sales rep for a large fortune 200 global logistics firm, where he has continued helping clients to this day. 
• Jeff invested his commissions in real estate in 2015 and has scaled this into a 952-unit portfolio. 
• Jeff wants to help others do the same

[09:26 - 19:24] How to Pitch a Real Estate Deal Like a Pro

• people get to see what kind of returns they can expect when investing in real estate through a behind-the-scenes perspective.
• One key role for a GP is raising capital, which can be difficult but is essential for those in the real estate industry.
• It is important to have a team that can do their job well and fit into their groove, as each person has their own strengths.
• Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [email protected] to get the code you can use to avail of a discount!

[19:25 - 28:12] Jeff Shares His Tips For Investing In Real Estate

• The average multifamily property owner experiences 15-20% annual rent growth.
• Real estate is a stable and consistent investment with an industry average return of 17%.
• When investing in multifamily real estate, it is crucial to focus on the overall risk and not just the potential for gains.

[33:22 - 34:22] Closing Segment

• Connect with Jeff through www.bridgestoneinvest.com

/www.multifamilyadvice.com

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes:

“The first house that I bought in 2007, I've consistently made 20% even through a recession in COVID. And if you stack that up every five years, I double my money and that's a pretty consistent return factor across all real estate. It's not buying today and double your money tomorrow. And there are those where you have this big pop, but when the stock market's going down, you're probably still in that 15 to 20% range. So my conversation is removing risk, not highlighting gains.” - Jeff Davis

Welcome back! Small Axe Community! Today we have a powerhouse couple Michael and Lindsey Duguet! 

Michael and Lindsey became interested in Real Estate Investing in 2018. They started their educational journey by reading REI books, listening to podcasts, and being active on Bigger Pockets. They joined Real Estate Elevated for intensive training and founded Duguet Estates in March 2019. Their first off-market single-family homes were purchased in May 2019, followed by a duplex in June 2019. They started direct mail campaigns and bought 4-plex and 3 single-family homes throughout the rest of 2019. They bought a 10-plex using off-market advertising in December 2020. All acquisitions were completely remodeled (most full gut jobs) and now are stabilized and all cash-flowing. They have enjoyed huge equity gains through forced appreciation. 

They have successfully BRRRR’d with 100%+ cash out refinances on half of their portfolio which they have rolled over into new deals. Michael & Lindsey joined the MIH Mastermind in 2022 and subsequently formed Clover Key Capital in May 2022. Their first syndication deal closed in June 2022 in Indianapolis, IN. They and their partners have funded $5.5 million together, and own thousands of units. They are actively looking for C+ to B+ class value-add, 1960+ build apartment complexes. Specializes and improves multifamily properties and their focus on acquiring income-producing properties.

Michael was born and raised in France and moved to the United States in 2011. He is a mechanical engineer and came to Philadelphia on a work contract. Lindsey was in medical school at the time and they both met while living in Philly. Lindsey is now an emergency medicine physician, getting her doctorate at Philadelphia College of Osteopathic Medicine and training in Emergency Medicine in Danville, PA. Together they have two children.

[00:00 - 08:29] Opening Segment

• Lindsey and Michael are founders of Clover Key Capital and Duguet Estates LLC
• They started their educational journey by reading REI books, listening to podcasts, and being active in bigger pockets.
• They joined real estate elevated for intensive training and founded Duguet estates in March, of 2019.
• Their first off-market single-family homes were purchased in May of 2019, followed by a duplex in June of the same year,
• they started direct mail campaigns and bought a 4-plex and three single-family homes throughout the rest of 2019.
• Michael is a mechanical engineer 
• Lindsey is an ER physician and still doing a full-time W2 job.

[08:30 - 17:09] Reducing Hours and Spending More time with family.

• The challenges faced when starting as an entrepreneur physician include dealing with contractors and tenants.
• The first two deals were bought off-market and dealt with evictions and squatters.
• The strategy for buying properties has changed since then and is no longer in distressed areas.
• Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [email protected] to get the code you can use to avail your discount!

[17:09 - 27:37] Growing Portfolios

• Now, Michael and Lindsey are renting out their two units for 1,000 to 1100 per month, doubling their income.
• The units were completely redone in the back, and the parking lot was also redone.
• They expect to get between 300 and 465 tax-free cash out from refinancing on this project.
• They bought this property in December 2020.

[27:19 - 31:40] Closing Segment

• Connect with Michael and Lindsey by visiting www.duguetestates.com

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes:

“It was a big mindset shift for me. As a physician, I try to do everything well, everything perfect. We are taught that these are people's lives, so you can't fail. Failure is not an option. You can't mess up with that. So for me, to start partnering with other people and giving up some of this control. It is certainly a little bit tough, but we realized that having a little piece of the pie is better than no piece of the pie. So as we start to form these partnerships, we're moving forward with bigger deals now that we couldn't take down on our own and that we are with other people who have knowledge that has done these much bigger multifamily deals that they can bring some capital with us” - Lindsey Duguet

“We started the first two years and we were on the path to success after a year or two, we hit the first roadblock. And it was a lack of capital. we were just stuck. We could not buy more units. And I was doing the rehabs, managing all the leases. So we reach that ceiling eventually We looked into a mastermind and learned that you don't need to control everything, but just find the resource of people that can help you.” - Michael Duguet

Welcome back! Small Axe Community! Today we have Jason Stubblefield! 

Jason has been investing in real estate for over 10 years. He started with single-family homes and has since moved into the multifamily real estate space. He scaled his portfolio to over 1000 multifamily units in just a few years. Jason grew up in a lower-class family and was always mindful of the tenants that he served. That concern led him to transition his company into the affordable housing space. His company is now devoted to helping solve the affordable housing crisis while maintaining strong returns for his company and its investors.   

Prior to becoming a full-time multifamily entrepreneur, Jason spent over 11 years of experience in software development and has a Bachelor of Science degree in Computer Science from the University of Memphis. He is also a United States Marine Corps veteran.

Join us today as we learn how Jason and his team built S&S Capital Partners which specializes and improving multifamily properties and their focus on acquiring income-producing properties.

[00:00 - 07:56] Opening Segment

• Jason Stubblefield is a real estate investor with over 10 years of experience. 
• He transitioned his company into the affordable housing space and now helps solve the affordable housing crisis. 
• Jason is also a veteran and has a bachelor's degree in computer science from the University of Memphis.
• Jason is a general partner in all the deals that S&S capital partners do, and he focuses on acquisition and asset management. He also helps raise capital for the company.
• Jason's advice for aspiring real estate investors is to create a system where investors can come to you easily and be consistent with your content. He says it takes time and effort

[07:56 - 16:36] How to make your affordable housing project more successful

• Somebody can reach out to you and set up a meeting with you through the S&S capital partners' website or social media.
• The best conversations with investors are those who have heard me before, as they are already primed and understand my message.
• It is important to have teams in order to do deals of this size, as one person cannot do it alone.
• Affordable housing refers to rent that is at 80% of the area's median income or less.
• There are many programs under the affordable housing umbrella, such as section 8 and government incentives.
• Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [email protected] to get the code you can use to avail a discount!

[16:36 - 23:52] How to Make an Investment in Multifamily Property without Sacrificing Yield

• Jason tried to find deals like the one he lost out on, but it became increasingly difficult as investors looked for higher yields and less risk.
• He found a mentor who taught him about tax credits and partnered with the government to make beautiful properties affordable for tennis players.
• Jason has similar experiences to his own and has overcome limiting beliefs about money and success by searching for opportunities.

[25:19 - 28:40] Closing Segment

Connect with Jason by visiting their website at www.snscapitalpartners.com

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes:

“Affordable housing is like this umbrella under which a lot of different programs fall underneath. 

So if you're making 80% of what area median income, then how much are you paying for rent? And if you can get rent at 30% of your salary, then that was what we technically call affordable. Right? So just no more than 30%. What happens though is cause you got market dynamics, supply-demand, whatever people are paying 35 or 45 or even 55% of their income just on rent.

So making it affordable is trying to fall underneath that 30% threshold.” - Jason Stubblefield

“There are people who have different sets of problems. The problem is not money anymore. It's problems like how can I save and not give as much of that money to taxes, or now there's even non-profits or funds that have quotas that they have just gathered so many dollars from pensioning funds or whatever, and they need a place to put all that money, like billions of dollars. So it's interesting to think about that. You know, you find what you're looking for. So once you start searching you start finding those answers.” - Jason Stubblefield

Welcome back! Small Axe Community! Today we have a very special comeback guest, Mr. Sterling White! 

Sterling is a multifamily investor specializing in value-add apartments in Indianapolis and other Midwestern markets. With just over a decade of experience in the real estate industry, Sterling was involved with the management of over $10MM in the capital, which is deployed across a $16MM real estate portfolio made up of multifamily apartments. He founded Sonder Investment Group through the company he owns just over 500 units. 

Sterling was featured on the BiggerPockets Podcast and has been a top contributor since 2014, with over 200 posts on topics ranging from single-family investing and apartment investing to wholesaling and scaling a business online. So with no further ado, Let’s welcome Sterling White!

[00:00 - 08:02]Opening Segment

• Sterling White from Signer Investment Group is back and ready to talk about small acts and how they can be used to build an empire.
• Sterling has been involved in the management of over 10 million in the capital, which is deployed across 16 million real estate portfolios made up of multi-family apartments.
• Sterling was featured on the FBI podcast a few months ago and has been a top contributor since 2014. He has over 200 posts on topics ranging from single-family investing and apartment investing to wholesaling and scaling a business online.

[08:02 - 16:15] Using Apps, VA’s to Effectively Work Remotely

• For Sterling, Real estate is up, but there are still dips and it's a gamble whether or not you can make it through those dips.
• Sterling shares that his team is in Indianapolis, but he and his team can remote anywhere.
• He has a remote team of VAs that help him with the acquisition process.
• He says that he uses apps that help him accomplish tasks such as closed.com as his CRM to track all the details of the deal.
• He also sends out follow-up emails and text messages after the deal are completed.

[16:16 - 25:18] Current Market Conditions 

• The current lending environment and how it is difficult to purchase multifamily properties.
• Sterling believes that the recession has already started and that the real estate market will correct itself.

[25:19 - 28:40] Closing Segment

• Connect with Sterling through Facebook, Instagram, LinkedIn, Youtube, Bigger Pockets

• You may visit his website at sterlingwhiteofficial.com

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes:

“The interest rates are making, acquisitions even more difficult and you still have seller's expectations that are high, but it is starting to come down. So I would say from the lending standpoint, yes, it's difficult to buy deals, but I believe in the upcoming years it will definitely start to shift to be more of a buyer's market.” - Sterling White

Welcome back! Small Axe Community! We are joined by Ash Patel!

Ash, is a full-time Commercial Real Estate and Business investor. Looking to invest in value add CRE and businesses. Over 10 years of experience in turning around properties and businesses. Love taking others on the journey with me. I have personally transacted over $40mm in deals. Looking to acquire value add warehouse, industrial, land, NNN, restaurants, retail, office, medical, etc. Open to joint ventures, startups, angel investing, and mentoring others.

So with no further ado, Let’s welcome Mr. Ash Patel!

[00:00 - 08:32] Opening Segment

• Ash Patel has a 15-year career in corporate real estate and 10 years as a commercial real estate investor.
• He left his corporate career to become a full-time property investor and has purchased retail warehouses, offices industrial land mixed-use medical, and restaurants from vacant buildings to fully leased triple-net properties.
• The consistent theme is extraordinary returns for his properties, with an average annualized cash on cash return of 190%.
• He started out buying properties site unseen and then began mentoring others to scale up.
• Now, his mentees are finding deals and asking him to partner with them.

[08:32 - 17:55] Retail Apocalypse? Nico Says It's Not So Bad

• Commercial tenants typically have a longer lease and are more stable than residential tenants.
• It is important to find the right tenant for the property, whether it be a large grocery store, furniture store, or mom-and-pop pizza place.
• Retail is still a viable business, despite recent closures by big box retailers. 

• Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [email protected] to get the code you can use to avail a discount!

[17:56 - 25:55] The Rise of the Suburban Downtown

• Suburban retail over city center retail, citing suburban downtowns as a thriving example of this trend.
• Suburban retail spots that are easy to visit and manage are often recession-resistant and internet resistant, making them a good investment.
• Ash has bought and leased fully leased triple net buildings in the past.
• He is interested in any type of property that doesn't have tenants living in it, as these are the easiest to lease.

[25:55 - 33:21] People will be forgotten but not the lessons you teach.

• Ash says that he doesn't do self-storage, multi-family, or development because he doesn't have a competitive advantage in those spaces
• He recommends buying something for a fraction of the build cost rather than building it new
• He has a mentorship program for people who want to learn how to find deals and advises compiling a list of life lessons that can help you

[33:22 - 34:22] Closing Segment

• Connect with Ash through Facebook, Bigger Pockets, and LinkedIn
• You may email him through [email protected]

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

I believe that you only need a small axe to build a lasting empire. Let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.

Tweetable Quotes:

“I don't think that people's legacies really live on unless you're like a Steve jobs. I think people will be forgotten, but lessons that you teach your heirs will not be.” - Ash Patel