152. Passive Income EVERY Month - Real Estate Investing Strategy

21:52Well, the very next deal we did was 192 units. In what world does someone go from buying a two unit, a three unit, an eight unit to 192 units? Oh my gosh. Right? So that wouldn't be feasible unless you change your mindset and your perception, right? That reality was that John absolutely could not buy a property like that, right? There were so many limitations, but I didn't have to do it all by myself. It's a team sport. So I actually hired that mentor. You know, by working with that mentor, I expanded my network. I went to one of his conferences. I connected with the group that was up and coming.

22:26We had great connection. Fast forward six, seven months, I launched my podcast, had them on the show. They told me they were going to do this deal and they invited me to join them on this deal. So we closed that. That was 192 units, right? None of that happens if I don't take action. First action was getting that mentor. Second action was going to the conference. Third action was connecting with these individuals. Fourth action was launching my own podcast. Fifth action, having those guys on and building on that relationship, right? And then saying yes when that opportunity was presented to me.

22:55So I didn't know that I could do those things, but you kind of have to say yes if it's something that's going to move you closer to your goals and then figure it out. I think too often, if we can't see the finish line, well, we don't want to take action. And the truth of the matter is every successful investor I know, they focus on taking action, understanding the risk, mitigating risk as much as possible, but ultimately they've got to take action to move the business forward. So that mindset of thinking big, taking action is absolutely critical if you want to grow and succeed. I love that. I say it all the time on the podcast, the listeners will ruin their eyes listening to this.

23:31The biggest difference between a wannabe for new and entrepreneur is those that take action. And I like the piece about thinking big. You're only really limited to the expectations that you put on yourself. I want to move to talking about finding properties. People are like, okay, I have an idea, but now I need to know how to find properties. You focus on B class and C plus type properties. What makes these types of properties attractive investments to you? Yes. I love these properties because they, first of all, they deliver cashflow and cashflow is absolutely critical to real estate investing.

24:00And I'm actually working on an article right now. It's so simple and everyone hears this, right? We were starting out, but people tend to forget, but cashflow is absolutely critical because if you don't have the cashflow, then you're playing this game where it's almost like a flip project. And to give you a better sense, what most people do in my space is we buy a property, we call it value add investing. We buy a property, we invest some money into renovations. And then by doing that, people pay more in rent. Because of that, the value of the property goes up and that's how we end up making the big returns.

24:30However, in order for all that to play out, it's got to cash on and make money in the short term, even before we do all of our renovations and push rents up. What's happening with some people is they're going out there and the property is not making money, but they're saying, okay, well, it will make money when we're done and then we'll be fine. Well, something happened. In this case, interest rate shot up and they weren't able to do the work they thought they were going to do, or they weren't able to push rents as much as they thought they were going to push rents. And now they have a challenge on their hands.

24:57So when it comes to acquisitions, the first thing is I'm looking at cash flowing deals like B class, C plus assets for that reason. I also like to invest in markets where there's strong demand. Demand is driven really by both population as well as jobs. People move where jobs are. So you want to understand where that's going. I want jobs that are recession resilient. We don't want to be in industries where when times are great, they're great. But when they go down, people leave. I think the tech industry is one that is always interesting to watch and monitor. We've seen some yo-yoing there in the tech industry, but you think about healthcare, logistics, those are industries that are recession resilient.

25:33When COVID hit, those are essential workers. We need our packages. You need to go to hospital. So those are places or industries that I'm looking at where we're going to focus. When we talk about metrics people should look at or things people should look at or how to find deals, I think we always want to start with the industry experts, which are going to be agents and brokers. They're in the industry every day. From an acquisition standpoint, the crux of their business is talking to owners, figuring out who wants to sell, and finding them a seller or buyer for that business. So you certainly want to build relationships with those individuals.

26:04If you're on the smaller side, let's say, you know, residential real estate or smaller multifamily, you can try to work with wholesalers or go directly to those owners. Those are great strategies. The only caveat I will give you is they require patience because you're going to talk to a lot of people who are not interested in selling. Remember, that's what agents and brokers do, right? They talk to these people to figure out who's trying to sell. You're going to be doing the same thing. And a lot of those conversations will not end up in you getting a deal. The other thing is you have to have a real problem to solve because ask yourself, if you're an owner, why wouldn't you go list it with a broker instead of trying to sell it to somebody below market price?

26:44So sometimes I see people say they want an off-market deal and they spend all this time and energy trying to find something off-market, but they really haven't thought through like, yeah, so is everyone else, right? So, you know, there's got to be a reason or problem you're looking to solve. And that goes back to what's a good deal? What's your buy box? If you're not willing to deal with the problems, then you probably are better suited going directly with brokers or agents. I like that. That is really good advice. And I want to stick with identifying good markets and desirable outcomes. I'm hearing population and jobs are the two things that you really look for.

27:15Holistically speaking, in the United States, is now a good time to invest? If so, what are some markets that you guys are really evaluating right now? Yeah, it's a great time to invest. And I'll tell you why. There's a little bit of friction in the marketplace. And friction is great. As investors, we want to find opportunities. Typically what we're looking for, we're trying to find properties or any investment where it's undervalued, right? The market thinks the value is here, but we know all the data is showing that the value should be higher. That's what we're trying to do. That's purely what investment is, right?

27:46We're finding undervalued assets. And then for whatever reason or whatever our strategy is, at some point, they're going to become more valued and that's where we make our profits. So we think it's a phenomenal time to be investing. I think many markets are ripe for investing. We focus more on the Midwest because I'm here. I live in Cincinnati and I like a two hour radius of Cincinnati, but the data is supporting us. The Midwest has seen the most rent growth over the last year or two, partially because we have not seen the explosive rent growth that many other markets saw. Now we did have rent growth, to be clear.

28:18It just wasn't 15, 20, 25 % like some of other markets saw. The other thing that's happening is we've seen a huge influx of supply come online over the last year, and it will continue through the next year. But that's going to slow down after 2025. So in some of these markets, if you're paying attention to the data, you'll identify where there's going to be opportunities in those sub markets. Generally speaking, in the Midwest, we don't see the overproduction. And think about it, if you were going to build a brand new apartment building, it's going to cost you pretty much the same amount no matter where you do it, right?

28:50The supplies are the supplies. Do you want to build in, you know, Florida or do you want to build in, you know, Iowa? I know we were joking about that earlier, right? Most people say, oh, let's go to Florida. We'll have more international investors and California people and New Yorkers will go buy that from us. I'll make money. So the Iowa doesn't see as much. It's seeing development. It's just not seeing the same levels of development that they're seeing in Florida or Texas where you're at, right? So for us, that supply constraint is still huge. We are still seeing a housing shortage despite all the new supply that's coming online.

29:20So all we have right now is a very temporary market correction, whereas some of these markets, because they've had so much new supply come online and pretty much all of it has been either class A luxury housing or affordable housing, they really haven't catered to this, again, class B, class C plus type resident who is what we call workforce housing. That just means these are regular everyday people, your teachers, your police officers. These are folks who have good quality jobs. They're not living in luxury housing and they're not affordable in a sense that they need government assistance. They have jobs.

29:52They could pay the rent, right? But this is the backbone of America. We call it workforce housing for that reason. Those are the apartments that we like to target. We want to rent to those individuals because no one's catering to them with anything new. So we can go in and buy an existing asset, renovate it so that now it fits what this person is looking for, and we've created some value for everybody. So that's where I think the opportunity is. I think there are a ton of markets that are available. My markets are, again, Cincinnati, Columbus, Louisville, Kentucky. We have assets in the Southeast as well.

30:22So like Atlanta, Georgia, North Carolina, Greensboro, Triad area. So there are lots of markets that I think are right. Just like everything with real estate, it's local. So you really have to dig into that sub market, understand what's going on, and then identify how do you leverage the current trends to find a value or find an opportunity for your own investing needs. John, will you just hit on my next question that I'm about to ask? Because I'm curious, how do you identify, what are the quantifiable metrics that you look at to determine demand before you invest into a market? Yeah, it's awesome.

30:54So I've been doing this for a dozen years now and I consider myself still a student of everything and just talking to super smart people all the time, right? Which is one of the reasons I love hosting a podcast. Well, you're a smart guy, John. Well, you only get smart by hanging around with other smart people, right? Yeah. And just soaking it all in. So what we always do to try to identify the right trends, first of all, we're trying to understand what's the rent story, okay? And when I say rent story, I mean, are rents growing? Are they flat? Are they declining? And what's driving that? So in some markets right now, you're seeing rents are either flat or declining.

31:29And what's driving that is the amount of supply that's coming online. So once we know that, the next step is, okay, well, what's the supply look like for the future? And in most cities, it's going to dry out. Like there's very few starts. As a matter of fact, I think I read something that said this was the first time that new starts was less than completions in like 20 years or something like, or maybe 30 years since 1978. So 30 years, it's like 40 some years. But nonetheless, that's a metric that you're like, oh, okay. Well, if this is a thing that's making rent growth negative or slow in your market, but we see the future outlook is pretty much zero, then this should change during that timeframe as well.

32:07So that's something you pay attention to when you're looking at your trends. The other thing for me though, beyond just the rent story, I want to understand the population. Again, are people moving here? Are they moving for jobs? What jobs are they moving here for? How's that company doing? Is that company stable? Is that company growing? Are they looking to expand? as a university, as a healthcare system, you got to dig into all that, right? So I want to see, hey, what's the health? Are the trends moving in the right direction or what? I want to see, is this a place where it's business-friendly?

32:34And the way we look at business-friendly, I want to see, are they actively promoting partnerships, public-private partnerships? Is their funding? Is it grants available for businesses to open up and launch? Do they have an economic development council? Can I read some of their policies on the website? So I'm looking at those kinds of things, because that helps me understand like, yes, they are going to support new businesses. They're going to support development and growth. Going back to the rent growth side of it, one thing we're also paying attention to is what's called, absorption is what it's called.

33:04So there's something called net absorption rate. And all that means is when you have new product that's coming online, how fast is it getting rented? Because we want to see where the demand is. And that's the metric the industry looks at. They don't necessarily look at how many vacant units and how many rented units. They look at supply and how fast that new supply gets filled up. So that's something we're paying attention to as well. I mentioned being a student. And this is crazy because I just sat down with a good friend of mine who is a commercial broker for 13 years. And we did this webinar.

33:35And I learned so much from this guy on the webinar, stuff that I wasn't expecting. I just expected to teach other people. And he talked about the velocity of a market. And he got into how many trade, they call it trades, but how many deals happen in a market. So he says, hey, for instance, I'm going to look and see, let's just say you want to buy five to 50 units, right? So your buy box is, hey, I want to buy five to 50 unit property, whatever it is, right? Well, you go in there, well, how many five to 50 units even exist in your market? So he starts with that. And then he says, all right, well, how many of those units actually traded or sold in the last 12 months?

34:10And then he looks at it for the last six months. And based on that, he's got a rate now or velocity rate of how much the sales transactions are. So he'll compare that to different markets and say, okay, hey, we had a 2.5 % velocity here. So this is a hot market. Or if he's like, hey, we got a 1 % velocity here. I'd rather go in a market where there's more transactions happening. There's more velocity. That means there's more opportunities to get a deal. And I joked with him because I'm like, dude, where were you when I was starting out? Because I was looking for a product that didn't exist. I was looking for like a 50 to 100 unit property in Cincinnati.

34:44And if you know anything about Cincinnati, it's an older city. So you don't have as many of those properties. And then I was like specific to this section of the city or this portion of this neighborhood. And I'm like, oh man, that probably would have been smart to look and see how many of these properties actually exist before I finalize my criteria. So stuff like that, I think is always really cool because you can tweak and learn from other folks and adjust kind of your approach. Nice. Yeah, I absolutely love that. I want to ask a question that just comes to mind. Obviously, there's a thousand equations that go into real estate investing in business, in life in general.

35:14Is there one equation that you really look for now when you're looking at deals or investments? It's a huge question. You're asking the money questions. You're asking the money questions, man. This is great intel, right? There's two things that... Well, one thing for an investment decision. I pay strong attention to stabilized cash on cash. and the reason I'm looking at the stabilized cash on cash is to me, that's a better indicator of the strength of a deal. Now, if I find a deal, let's just say it's being completely mismanaged, right? If I only focus on the current cashflow, then I would have to pass on that deal, right?

35:52Because I'm like, oh, well, I can only buy it for 12 bucks and it's like, well, he's not gonna sell it to you for that. So I wanna look at it to see, okay, hey, once I finish my business plan, what's the stabilized returns? What does that look like? I'm not talking about the sale proceeds because the sales environment can be impacted by a lot of factors, timing, interest rates, cap rates. I don't have as much control over that, but I do have a lot of control over the operations. So I focus on the stabilized cashflow. That's going to be the number I really lock in on when I'm putting together my business plan.

36:22Nice. I really like that. That is really good stuff. Let's go to a question. I feel like a lot that you've talked about in this podcast is like, you know, like a lot of great people in this space out, like you have built that tribe of people around you to like really elevate you? Like, what's your take on when people say like, is your network actually like your net worth? Like, what's your take on that? There's some phrases that become cliche and there's a reason things are cliche, right? Like it's because there's a lot of truth to it and it's happened over and over and over. So I absolutely believe that.

36:53And I go back to the mindset conversation we were having earlier and thinking big. Like if you would ask for that, I probably like, sounds like some mojo, you know, just like somebody puts in a little book, a little self-help therapy book, man, and sell some like, nah, I don't believe. Right. But the truth is yes. Like, yes. Like my mentor, the person who taught me about multifamily investing, you know, this guy in Cincinnati when I was like, kind of luck, you know, I was just looking to connect with other people in Cincinnati and I was on bigger pockets using a free resource and a bunch of people tagged this guy.

37:24And I said, awesome. So I'm like, Hey man, I'm looking to connect with Cincinnati investors. Bunch of people tagged you. I'm going to be in town this day. Would love to buy you lunch or coffee. He says, great. I got this podcast. You should come on it. And I'm happy to meet you. And I'm like, okay, it's weird. Do the podcast. I come down, I meet him. Happens to be Joe Fairless. At that time, he had done one big deal. He had a couple of houses and he did one apartment deal. He bought a property for like$7 million, raised a million dollars for that deal. And I was like, wow, what people really do.

37:54Remember, I had heard about OPM. I didn't think it was for me until I talked to him. And when he told me he did it and he had a similar background, he was at an advertising agency. So we connected over that. And that was the first time I said, well, maybe it is for me. And we talked a little bit more about it. I ended up hiring him to be my mentor. And I may not have mentioned this yet, but he has a 2.7 billion with a B billion dollar portfolio today. Sheesh. Okay. So I watched this dude. I still had no aspiration. I didn't know what syndication was, none of this stuff, right? I just hired this guy because I was like, all right, I just put$130 ,000 down on my last investment.

38:30I would like to do like 50K next time so I can still have some money in the bank. And maybe if I get another deal, I can do two or three deals instead of just the one and praying, right? That was my whole vision. And then I watched this guy buy 130 unit apartment building. And I was like, wait, what? And then I watched him buy like two months later or three months later, another 150 plus unit apartment building. And they bought another building for like$20 million. And I'm like, wait, what are you doing? How do you know this many people who like, so that's when I was like, oh, there's a thing I thought I was going to do.

39:00And then by watching him, it actually opened up my eyes to a whole other approach. So again, that first deal I did really directly through him. We both had the same coach. The guys I partnered with were also coached by him. You know, like today, I literally just released my podcast episode with him today. Now, Joe's a great guy, good friend of mine. He charges a lot of money now for private one-on-one coaching, but I got a little bit lucky, but I also took action, right? I took the action when I had that opportunity and the network is absolutely critical. So you have to do that. You have to connect with people.

39:30And even if you go back, I was networking intentionally before I even met him. If I wasn't going to these meetups, if I wasn't active on BiggerPockets, I wasn't asking. I mean, how many of you would be going to a city you're thinking about investing in, or you just know there might be properties and are actively trying to build connections with those people? I made it a point to reach out, not just to him, he just happened to be the big one connection I made, but I was reaching out to brokers every time I came to Cincinnati. I was reaching out to property management companies, other investors, because I knew at some point we would probably move here and I wanted to start investing here, but I need to learn the city.

40:04I need to learn how to, like I didn't know how to invest in Cincinnati. So that was my way of trying to figure out, okay, this side of town, not that side of town. This is a good deal. Trying to figure out my buy box, right? All the things we talked about, that's what I was doing. And I just so happened to meet the person who became a mentor and taught me how to invest in real estate in a way that changed my life. And having mentors is like great. It definitely like puts you a few years ahead to having mentors that you can go to questions to ask for advice from. But still, like the first time you invested people's money, like were you fearful of like doing that initially?

40:32And like what were some of those unexpected challenges? Yeah. I mean, listen, if you're going to raise money, I would really hope that you're fearful of losing their money. Fear is a good thing in this case, because it's going to force you to ask tough questions, to make good decisions, to go through some risk analysis. Absolutely, I was fearful. My brother was one of those investors in that first deal. Scared the crap out of me. Scared my wife too. But we went through that process. You have to trust the process. There's nothing wrong with the fear being there. The key is to take action on that fear.

41:07Address it and lean into that fear. Why am I scared? Well, I'm scared I might mess up. I'm scared the deal might go wrong. Okay, well, let's lean into that. Well, why might the deal go wrong? How might you mess up? How can we alleviate that? Okay, well, let me get a good team around me. Let me get people more experienced. Let's get an experienced property manager. Let's get a mentor on our team, right? How could the deal go wrong? Okay, if the deal, again, doesn't cash flow, right? If we don't have enough money to pay the bills, the deal could go wrong. That's why I focus on stabilized cash flow.

41:33Maybe we don't have enough money to fix it up. Okay, we need to actually go get some real quotes for the renovation budget and probably raise a little bit more than what they're telling me because I'm sure they're going to miss something, So you got to lean into that fear so you can still take action. You can't just let that cripple you. So I didn't think people would want to invest with me. Start with that. Talk about losing their money. I didn't think people would want to invest. So I had to start with that. Well, who the hell would want to invest with me? I'm at this company that's going through bankruptcy.

41:59I just want my money down to this last property and I got to focus on that. I don't know who'd want to invest with me. I've never really done this with other people, certainly not at a large scale. So I didn't know if people would want to invest with me. So that's something I had to get through, right? And what really helped me was recognizing there were people who wanted to get the benefits of investing in real estate, but they did not want to be a landlord themselves. They did not want to be flipping themselves. And they would rather invest with someone like me that they knew, they liked, they trusted, they knew I would take care of them.

42:29They knew I would do everything I could to take care of them as opposed to some random stranger that they had no connection to. So that was really helpful. And you only got that once you started having conversations with people and learning a little bit more about what they were trying to do. So it's really important to recognize that fear, lean into that fear. It's a common fear that all of us have. But if you are being honest with yourself, the best way to do this is to serve other people. Sometimes people aren't fearful because they're being selfish. If you're looking to raise money just so you can make money on your own deals, that's a different approach.

43:01That's not really what we do or what we teach. We focus on trying to help the people around you get the same benefits, right? And the only way you can do that and take care of them is if you believe in these deals, you're doing everything you can to learn, to educate yourself, to build a winning team. That's what's going to build that confidence. If I could have another minute, what I'll say is, I tell everybody there are three C's to raising capital, confidence, credibility, and connections. Confidence comes from preparation. I'm not talking about faking it till you make it. I'm talking about be prepared, know your numbers, know how to analyze a deal, know what to look for in these markets and these opportunities.

43:34It doesn't matter if you've never done it, you at least have to know it and be prepared. Credibility. Have you done this before? If not, what's in your background that lets you know that you can be successful? Where's the team you've built? What's their experience, right? But you got to have that experience, that track record to lean on to know that you have a credible team in place to do these deals. And then connections. I'm not asking you to call your aunt or your uncle and hope they invest their life savings with you. You got to expand your network. You have to find the people who need and want these kind of opportunities.

44:01You may not believe it, but there are truly people who want and need these investment opportunities. I go back to my brother-in-law and he was facing a pretty large tax bill. So when he learned of the tax benefits of investing, not so much the cash on cash, which is great too, but when he learned of the tax benefits and why so many millionaires and rich people invest in commercial real estate, that's what got him sold. So when he invested with me, the first thing he said was, thank you. Thank you. Because I helped him with a problem he was trying to solve. And that comes back to service. If you focus on the service of this business, if you treat it like a business, you're focused on service and helping other people, then you will protect them and they will know that, right?

44:40I'm not saying you'll have every deal be perfect, but if you're coming from that place, that fear of losing someone's money kind of goes away because you're actually going to work really, really hard to protect their money and only do deals where you feel confident that you will be able to protect their money and you'll learn and grow from every experience you have from there. I've learned and grew a lot during this podcast episode. So I want to thank you, John, for coming on. And we're going to go to our Fan Blitz questions here. And these are questions actually submitted from our community. And guys, you want to join in on world-class entrepreneurs like John and get part of the conversation, you can go to www.youtube.com slash upflip and submit your questions there.

45:12But John, ready for our last five questions? Let's do them. Let's do it. Number one, are some states better than others to begin your real estate journey? Absolutely. You want to look for landlord-friendly states, particularly if you're doing any long-term rentals. A couple of states to avoid. I know folks who make money in every state, so this isn't a blanket statement, but some are absolutely easier. California is notoriously challenging for investors. So that's a tough state to be in. Texas is generally investor-friendly. Florida is generally investor-friendly. Kentucky is investor-friendly.

45:42Illinois is another challenging state. So there's actually a list that I can try to share with you, but there's some states that are absolutely great for investing and others that most people tend to avoid. I like it. Great advice. Should you start as an LLC or other business structure, or can you be a sole proprietor? I think that question is overblown. What you're ultimately getting at behind that question is from either a protection standpoint from liability or from a tax standpoint from accounting. So I think you need to talk to your CPA about that question. To me, it really doesn't matter.

46:10We invest directly in our deals through our ownership shares. You're going to have protections from the LLC if you create that. But if you're worried about a lawsuit or something like that happening, your insurance is going to be kind of the first thing you need. A lot of times people create these LLCs and an opposing attorney is just going to pierce the veil. So that's the term they use. If you're not truly running it and operating it like an LLC, they're just going to cut through it and go to you directly anyway. So I would really dig a little bit deeper about what are you trying to do? Are you trying to protect yourself from an insurance and a liability standpoint?

46:40Or are you really setting this up as kind of asset protection or what? If you're looking to do this as estate planning, then you may want to set it up in a way where it's easy to hand off any of your assets to your heirs. Great advice there. Number three, are FHA loans the best option when you're starting out? So I started with an FHA loan. So I bought that two-unit building. We got an FHA loan with just three and a half percent down. I think it's a phenomenal product depending on your living situation. And I think it's the best, but you have to do what you want to do. If you have a house, that may not be the investment you want to use.

47:13But I definitely think if you're looking at small multifamily in particular, it's a product you should absolutely consider. Number four, without having partners, is having just enough for the down payment enough or do you need extra capital set aside? I would always have extra capital. First of all, you want reserves. You want to have some money just in case you close on a property and day one the roof goes out or the furnace goes out, you have no money. On that eight unit property I had, one of the mistakes we made is we just did not have enough in savings. We planned on doing renovations through cashflow.

47:41So when money came in, we would just save that money and use that to renovate the property. But we kept running into issues where we never had enough cash flow to do the renovations. So we were never able to create the kind of value we wanted. So one thing we do now as a hard rule, whatever renovation budget we need, we call it capital expenses, but that CapEx budget, we have that day one sitting in the account ready to go so that we can run and really drive the business plan. But you always want more than just a down payment. You want your capital expenses and your renovations as well as your reserves.

48:13Number five, last question for you. Do you recommend hard money lenders or using your own money? It depends on the situation. I would say, listen, using your own money is going to cost you less money, but also leave you exposed. If something goes wrong on a deal, you have nowhere else to turn. You got all your money tied into this deal. With hard money lenders, typically they understand they're going to make a stronger term. So they understand the risk that they're putting into the deal. I would say it really comes down to your business plan, your experience. But anytime you're doing all the work, you've got all the money into the deal, that's a lot of risk.

48:45And when we talk about risk profile, look at it both ways. Don't just look at it from your partner's standpoint. Look at it from your standpoint too. If that deal goes wrong, that could cripple you if you've got all of your life savings invested in this deal. So make sure you're just looking at it from a high level, not just using hard money versus using your own money. John, this was an amazing episode. I want to thank you again for coming on. If someone's like, holy smokes, there's a lot here and I need to ask John 50 more questions. Where can they contact you and learn a little bit more about you?

49:13Yeah, check out our website. If you want to hop on a quick 15-minute call, there should be a link on our website there that you could click on and book a little consultation with me. But casmincapital.com is the site. We do have some resources on our website, including a sample deal package to help you wrap your head around what some of these deals look like. And then we also have a link to our podcast. So if you love podcasts, love learning about multifamily, you can check out our show called Multifamily Insights. Hey, everyone. That was an amazing episode with John. Super excited that we could get him on here and talk about real estate investing.

49:42Three quick takeaways for you. Number one, when you're evaluating different markets, look at the population and the job growth. If they're both trending up, you may have a market that is going to be a winner. Number two, an important metric that I learned today was absorption rate. How quickly are they getting on the market and how quickly are they being absorbed and actually bought? Super interesting metric, I thought. Number three, John talked about it throughout the whole thing, but take action, take, take, take action, action, action. He really honed this in. I really love that. I always love that advice, especially when it comes to entrepreneurship.

50:09And listeners, if you want to know how to turn a tiny investment into a massive real estate empire, check out our blog post to discover how Thatch transformed less than$100 into a$100 million portfolio. Learn his top tips on creating passive income, investing smartly, and making a great living without being a finance guru. Check the link in the show notes below to get started today. John, thank you so, so much for being here today. Absolutely. Thank you for having me.

50:38Aspen