Cold open

SPEAKER_00 0:00

Welcome to Live Let Thrive, a podcast about the Airbnb life, the share economy, and everything in between. Here are your hosts, Micah and Steve.

SPEAKER_06 0:11

Hello, hello, hello. And welcome back to another exciting episode of Live Let Drive.

SPEAKER_04 0:20

What is up, Micah Man?

SPEAKER_06 0:22

I'm chilling, Stevie Stax. How you doing?

SPEAKER_04 0:24

Ah, pretty good, man. Long day of work. Ready to do this podcast and think. And this is episode 141, as you as you told me just now, of your favorite Airbnb VRBO uh real estate podcast in the world. And we have a special guest today.

SPEAKER_06 0:40

Who we got today, Stevie Stax?

SPEAKER_04 0:42

His name is Mike G. I was about to flow, but I didn't have that. I love it. Should have gone. Mike, what is his name? Glaspy. Gillespie. I was gonna say Gillespie, but Gillespie. Cool. Yeah, well, welcome Mike to the show. And you're gonna lay down some good

Mike Glaspie intro: 100 doors, Green Beret, three states

SPEAKER_04 1:01

stuff for us today. It's gonna be a good episode. And um, ready to roll, man. Y'all ready?

SPEAKER_06 1:06

Let's do it.

SPEAKER_04 1:07

All right, let me read this bio real quick. Mike Glaspy is a commercial real estate broker in Charlotte, North Carolina. Mike received his bachelor's degree in business management and is currently pursuing a master's in business administration. He served 10 years in the U.S. Army with the major majority spent in special operations as a Green Beret. Since purchasing his first investment property in 2014, Mike switched his focus to create creative investing. In less than three years, he completed several transactions in a variety of ways as subject to seller financing, wholesales, flips, syndications, and buy and holds. Mike currently holds over 100 rental properties and short-term arbitrages in multiple states and co-founded an investment-centric real estate team, all while serving full-time in the military. Now, as a veteran, Mike continues to practice real estate with a focus on educating other veterans on how to build the lifestyle they deserve through creative investing. I love it, man.

SPEAKER_06 2:09

Woo! Man said a hundred doors.

SPEAKER_04 2:20

Thank you, sir. And thank you for um serving our country. We really appreciate that so much. And I believe you're our second Green Beret on the show, right? Adam Grace, Adam Johnson, the other Green Beret. Nice. Yeah. So he um he's killing it over there in Tennessee. Okay. So and oddly enough, he's a he's a subject to uh master too, man. He's he loves that subject to stuff, and so I've I can't wait to dig into that.

SPEAKER_03 2:43

Absolutely.

21 Airbnbs, four arbitrages financed with zero percent furniture loans

SPEAKER_03 2:44

It's good to know that you know there's other guys out there doing it, you know. Uh you learn to do more with less, right? You know, in our specific field, and subject to is probably like that one thing. That's that one strategy that you can do that exact same scenario. So I like that.

SPEAKER_06 2:58

So I guess I'm gonna start off here then. So how many of your units are Airbnbs?

SPEAKER_03 3:02

Uh so right now we just literally closed on another nine units that are going to be Airbnbs about two weeks ago. So right now we have right at 21, 21 Airbnbs. And they're all arbitrages? Uh no. So the arbitrages, there's only four currently that are arbitrage. Um, nice little downtown loss, beautiful class A style property. Uh, we were able to get them for a decent lease, finance the furniture, right? Keep keep the capital out of our pocket as much as possible. And uh they're performing very well as well.

SPEAKER_04 3:35

Nice. And how do you how do you go about financing furniture? Who do you who do you use?

SPEAKER_03 3:38

Yeah, so you can use anybody. So to be honest, we use Ashley's furniture store, right? But you can use uh Wayfair, uh they offer financing. And to be quite honest, I'm maybe IKEA, I don't know, but a lot of furnishing stores or furnishing stores provide in-house financing, right? So I mean, if it works for you in the situation for us, it was zero percent interest. So it was like, all right, it makes sense, right? Let's just do it. We had to do a capital call at the end of the 12 years, but it was zero percent interest for the first 12 months. It's like that makes perfect sense. No money down, right?

SPEAKER_04 4:09

Yeah, it's beautiful right there. You can like start a bunch up that way, exactly, exactly.

SPEAKER_03 4:14

Because that's the beautiful thing about the arbitrage, as your entire audience knows, right? It's how do you keep more money in your pocket and try to maximize the cash flow? Well, we turned around with an arbitrage, all we had to do was pay the first month's rent and a security deposit. All right, not bad. And then we furnished the furniture, so that's no money out of pocket, and then after paying off the furniture expenses, the utilities, and that rent, we're cash flowing over a thousand dollars a month, right? Right? So it's like, all right, so you see the you see the the rate of return or the cash on cash return, whatever metric you're using, right?

SPEAKER_01 4:49

Phenomenal.

SPEAKER_03 4:50

It's yeah, it's a no-brainer. It's a no-brainer.

SPEAKER_06 4:52

Yo, I like that, man. You do the furniture, so then you don't even include furniture in your startup cost, right?

SPEAKER_03 4:58

No, nope, nope, you don't have to. You don't even have to, right? And so that's that's the thing about creativity, right? You know, you the more you know, the more tools you add on your tool belt, the more problems you can solve.

Subject to explainer: deed transfer, mortgage stays, seller's name

SPEAKER_03 5:09

The biggest issue is that how do I keep more money in my pocket?

SPEAKER_05 5:12

That's it.

SPEAKER_03 5:13

Really? You kind of play it all together. It's like, okay, I can get real creative with this, right? Subject twos, right? Uh uh, you know, all this other stuff. So yeah, yeah, we could definitely talk about subject twos, you know, down the line. We'll we'll get into some more real, real creative uh strategies that way.

SPEAKER_04 5:26

And the subject two thing, man, is fascinating to me because I hear, you know, I have friends at work and stuff because you know, I do real estate. I got I got a I you know, I have four houses and I got two arbitrages right now. You know, I'm not as big big time as you are, but um but I want to rub elbows with people that are doing big things now, you know. So it helps. And um, so, anyways, uh, people are like, Well, man, I could, you know, I'd I'd like to get a rental, blah blah. I was like, All right, so you know, how you gonna go ahead and get one? Oh man, I gotta save up at least 20, you know, put 20 down on a $200,000 house. So I gotta have like $50,000. I was like, man, you you're gonna take forever doing this, man. You got to figure out different ways to do it. Absolutely. And so um, you know, how I did it, I was like, hey, you know, house hacking, hopping from house to house, that's one way to do it. But as but subject two, man, that's that's that's the next level, right there. Coming in and just one zero down or or whatever down you you you agree upon with the seller, yep. And just um, and yeah, man, you could just start start getting more deals that way. I love it.

SPEAKER_03 6:26

Yeah, yeah. So kind of like touch on that a bit, the the what I always like to do, I don't care if I'm working with a new agent or new investor, and we we always go through an education phase at first or or basically a screening phase, right? If they're a sophisticated investor, great, it makes it super easy for us. All we have to do is introduce our systems. But if it's somebody just starting out, like you mentioned, where they're talking about, well, I want to get an investment property, I want to do this, a lot of times we got to narrow it down. How many times have you heard somebody say, I want to get 100 rental properties in 10 years? It's like great, right? That's fine, but what the hell does that 100 represent?

SPEAKER_05 6:59

Right?

SPEAKER_03 7:00

If it's financial freedom, well, let's think about it. If you only need $3,000 a month to be financially free, but if you can do that in 10 doors, why the fuck you need, oh excuse me. Why do you need a hundred dollars? Sorry, guys, sorry, guys. Why do you need a C C you got me over here in my in my feelings right now? I'm emotional. But uh, but why you need a hundred doors, right? You can do it with 10, right? And so that's it's kind of like having that conversation for a realization. Then we back it down and say, okay, now we know you only need 10, you don't need a hundred. Now let's look at your resources. I like to call it a resource triangle just because I like to visually kind of put things together, but it's how much time do you have? How much money do you have, and how much experience do you have? That's it, right? And you put it on each apex of the triangle, and then you gotta figure out where the hell is the gap, and then fill the gap. So if you're lacking experience, you need to do something like you need to come on there and listen to like this podcast, right? Fill that gap, right? If uh um, or or partnering with a broker that knows what they're doing, right? If it's money, maybe it's private money or Airbnb arbitrage because you don't need money to put down, right? And so by by by understanding what the end goal is and then understanding where your resources are, it makes it real easy to get real creative. You can kind of just plug in the plea pieces and then just go from there.

SPEAKER_06 8:15

Man, this is some inspiring shit right here, boy. I like the way you said that that TME, boy. Yep. Woo! So, okay, on your long-term rentals, I'm I'm assuming you have you're 100% hands off, right? Absolutely. Absolutely. And how you running that 100% hands-off, how you running it? You just got a property management team on it?

SPEAKER_03 8:36

Yep, yep, yep. So um, I got a couple different things going on. So, like I I have a whole I have a syndication company. We focus on uh limited state hotels. And so I have a hotel out in Georgia where there's a full operations team in place, right? And it's not really property management, it's a legitimate operations team, right? As far as my single families, I have my long-term uh property managers, they're running their thing. They I basically I just look at the owner statements and they let me know when it's tenant turnover time or major repair time. Um, in Illinois, I have some student rentals, works a little bit differently, but it's the same concept, right? It's the same concept. Property manager lets me know tenant turnover, repair time. Ultimately, across the entire portfolio, I spend maybe, you know, realistically, maybe about an hour to two hours a week kind of managing the portfolio because it's just communication with the property manager. And and understanding the biggest thing that all of us, and obviously you guys already had Shelby, my business partner, on the on the uh on the uh podcast, the biggest thing for all of us is creating efficiencies and systems. Because think about it, not any single one of us started investing in real estate for another job. That's not what we started investing for. So I am very comfortable paying handsomely a management fee or whatever, in order for me to have the freedom that I started out chasing.

SPEAKER_04 9:55

I love it, I love it.

SPEAKER_06 9:57

Okay, oh go ahead, Steve.

Why a seller would do subject to and how to protect against due on sale

SPEAKER_04 10:00

No, go ahead, go ahead.

SPEAKER_06 10:01

I was gonna say, like, so on the subject two deal, I've I've had a I've been passing them up because I don't have the I don't have a tool belt. Oh my god, let's get you some tools, baby. Yeah, for real. So give me the give me the game on the subject two. How I'll run one of those.

SPEAKER_03 10:14

All right, so check it out. So check it out. Subject two is something that people just they just don't know about. And a subject two, the deed, the ownership of the property is transferred over to the buyer, but the mortgage that's in place stays in the original owner's name. Now everybody says, well, why the hell would they do that? Like, why would the seller do that? There's a few different scenarios, all right? Let's say for for example, um, they're just in a financial situation where they maybe they don't live in the property anymore, um, but they got this mortgage payment that they can't really afford. And for some reason, if they sold it, the mortgage on it is so high that they would have to come out of pocket to pay, right? Maybe, you know, maybe they bought a VA loan or a homeown owner occupied loan, something like that. And essentially they would have to bring a couple thousand dollars to the closing table just to sell it. In that situation, they're in a really weird financial predicament. They don't have the money to close and they can't afford the monthly payment. That is an ideal scenario for a subject two. All right. Now, the biggest thing about subject two is okay, now we understand the concept. Now, what are the risks involved? If you foreclose on the property, the property is gone. It goes away, it goes to the bank. It doesn't affect your credit, but it does affect the seller's credit. As professional real estate investors, our biggest thing is relationships, right? So we want to make sure that we protect that to the fullest. So we're gonna make sure that we're making our timely payments, but we have to make sure that that seller feels comfortable with that whole process because this is a wonky thing. They're now telling you you don't know them, right? You just called them, cold called them, whatever, and they're saying, hey, um, yeah, yeah, yeah, you can you can have my mortgage, you can take it over. What? Right? So you got to build in those, you gotta build in those uh kind of barriers. So one of those things is, or one of the biggest risks is something called a due on sale clause. Okay, essentially, a loan provider, the mortgage, the mortgager, they say, Hey man, anytime you sell this property, if you sell this property, you got to pay me my full mortgage amount. You gotta pay me everything. So if you owe $200,000, as soon as you sell it, you gotta pay me $200,000. Anytime it transfers ownership, right? That's called due on sale. So you have to find ways to protect against things like that. One way you can do that is putting uh the property itself, deeding it into a trust, right? Into a trust, and the trust has the name of the original owner or the original mortgage owner, right? But you are the beneficiary or your LLC is the beneficiary. So you still have ownership, but you kind of masked that transfer, if that makes sense, right?

SPEAKER_04 12:48

I like it.

SPEAKER_03 12:48

Uh another couple things, I mean, you can put um obviously you have to add yourself as additionally insured, right? Because if you transfer the full uh insurance out of the original owner's name, most of the time insurance is paid through escrow, right? So you can't hide that, you can't mask that. If it's in escrow and in the original owner's name, they have to still be on that on that policy, right? So that's another factor. So once you start implementing all these different factors in, what you're really doing is you're building up the trust and the confidence in the original seller. And that's when you're able to really start smoothing it over and making these deals. And I will be very transparent. There's nothing I there you should not enter a subject to and do anything illegal, and you should not do anything, you know, um, bordering on the lines of like uh illegal or gray or whatever. Be very transparent about everything you're doing and make it so in all of the contracts. And then that way you're you're keeping up to the good conduct of what business should be, you know, should be ran.

SPEAKER_06 13:44

Oh, okay. So let's say you get this property, you're now on the deed, or your LLC is

Exit strategy timeline: two years or no time limit depending on the seller

SPEAKER_06 13:50

on the deed. Yep, right? Your LLC's on the deed. Um, how long are you guys eventually looking to refinance that property? Yeah.

SPEAKER_03 13:58

So and that and that scenario changes obviously depending on the situation. All right. So my first subject, too, um, they were in no rush to sell the home because they weren't looking to buy another home, right? Now I had told them though, they'll said, hey, in about two years, we want to buy a home. So I had a two-year timeline to sell it. Because you got to think about it, right? That mortgage is in their name. It's gonna be hard to buy another home. It is, right? You know, if you have two mortgages, three mortgages, things like that, it starts to count against you. So I had a two-year time window. Um, one of my current uh subject twos, there's no time limit. They don't care. We didn't put a time limit in the contract because they said, I really don't care, man. Just take care of it. We're not buying a home for any time in the foreseeable future. When we do, we'll reach back out to you. But I always recommend I do not care what your investment strategy is, you must always have an exit strategy. Always. And so in a situation for a subject to the exit strategy is either sell or refinance. It's one of those two options. You have to you need to decide which one it'll be, and you need to have a plan for it just in case. Just in case.

SPEAKER_06 14:59

Now, are you refinancing it to your LLC or your name, or are you just trying to you're trying to get it in your so and that's a really good question.

SPEAKER_03 15:06

So a lot of people like to refinance in their personal name because you have lower down payments typically and lower interest rates. But you have to understand that your ability to borrow money is still going to be limited to your debt to income ratio. Always. The more mortgages you have, the harder it is to get a new one. Period. Then I also look at protection. All right. So if you use a homeowner-occupied loan and you put like an FHA, you put 3.5% down on a property and say it's a four-plex, that's fine. You got a four-plex and you're cash flowing like a beast. If you were sued for that fourplex in your personal name, how much equity or how much is really at risk? Right? The mortgage got it, that's all of it. But 3.5% is what's at risk. That's the equity position. Now, if you had a 50% equity position, that's at risk now. At that point in time, to me, depending on what that dollar amount is specific to the investor, now it's time to put it into an LLC because now it's actually asset protection, right? You're protecting an equity position. So the majority of my properties now are in LLCs because I don't want anybody to attack me and attack all of my portfolio, right? I have it segmented, but that's also how I separate my LLCs on top of that. I look at the equity position and I just protect a dollar amount in each LLC. And that's how I decide when to start a new one or whatever the case may be.

SPEAKER_06 16:33

Now, when you put a property into your LLC, uh, what

When to move a property into an LLC and protect equity position

SPEAKER_06 16:36

about the mortgage? Is the mortgage in the LLC as well?

SPEAKER_03 16:38

Or yes, yes, yes, yes. So you could do you could do one of two. So I mean I've had a VA loan that I've just was able to transfer the deed over to an LLC, but the VA loan's still there, right? Um, but here's the thing with that. Just like we talked about on the subject two, it's the due on sale, the same situation can happen if you just transfer from your name to your own personal LLC. That is technically a sale, it's a transfer of ownership. So the mortgagee or the mortgager could say, Hey, I'm calling it due, man. You just moved it to an LLC. I want all my money right now. They could have you ever heard of that happening? No. No. No. Okay. Never, I've never, I've never seen a real life example of that happening. Because the bank just wants to get paid, right? Yeah, they're trying to they want that interest money. Damn right. If you're paying on time, you're gonna be just fine. I and that's why I try to tell people like real realistically, the bank is not in the business of owning real estate. They want their money to go to work. They've already lent you the money. If you're making the payments, you're fine. They do not have somebody literally auditing every mortgage loan out there, like, oh, they transferred ownership. Like, it don't work like that. You know what I mean? So I think the risk of that actually happening is very low, but I do want the audience to be aware of it so they don't just go out there and start subject to and everything and then get slapped up, you know, you know, get slapped inside the head.

SPEAKER_04 17:58

Right, right, right. Um I I guess I guess they saw the damage that that happened the last go around in 2008 when they just started foreclosing left and right and just it just wrecked the whole economy for like eight years, you know. And so I think I think that we'll do everything they can to work with the with the buyers nowadays. And so, but I mean, yeah, always always be safe, always, always have an exit strategy, like you said.

SPEAKER_03 18:22

Absolut absolutely. And you can always do a loan

Military towns and VA loans: the zero-equity subject-to goldmine

SPEAKER_03 18:24

assumption, right? And we're not even gonna get onto that, but I mean, um, you know, worst case scenario, they say no, you have to acquire it. Well, you can kind of take over the loan in its current position without applying for a new loan, right? That's still the same process as getting a loan, it's called a loan assumption, but there are multiple options if it comes down to that, right? So I don't want the uh, you know, for whoever's listening, don't be scared to attempt a subject to, right? And be prepared to always figure out how. No, never say no. Not in real estate. We don't say no, we always say how, right? You gotta figure out how.

SPEAKER_04 18:53

And what did you learn all this stuff? Oh man, just just grinding, like you know.

SPEAKER_03 18:59

Uh so I mean, um, you know, to be honest, um, I had a bad deployment um one of the trips out, and at that point in time, I I made a decision like, hey man, I I can't do this. I can't do this for the next 10 years. I gotta, I gotta do something else. And when I put my mind to something, I get obsessed about it, right? I mean, I'm reading, I'm calling, I'm networking, rubbing elbows, doing whatever we gotta do. And a lot of the lessons I learned were through trial and error. I've lost a lot of money, right? And I've made a lot of money from the lessons that I've learned. But I'm okay with that. I'm very comfortable figuring out how to do this the hard way, right? Um, nothing I learned or nothing that I'm doing now is something that I created. Hell no. Everything's been in existence forever, for centuries. I just found the right people, asked the right questions, right? You know, find some mentorships. A perfect example is for all my subject twos. As I was starting that journey, I researched an attorney who knew what the hell subject two was. Luckily, I found one that that is his bread and butter. So every subject two I do, I go through that one attorney. And so essentially, remember, we talked about that resource triangle, right? My my gap was experience. Well, I filled that gap by finding an attorney who does nothing but that, had all the experience, right? And that's how you really can start to accelerate very rapidly is just by partnering with the right people. That's really what it comes down to.

SPEAKER_06 20:21

Man, what do you what do you find your subject to, deals?

SPEAKER_03 20:24

Like, are you good networking? Yeah. Yes, it's networking, man. And so honestly, it's it's more commonplace in a pla in something like a military town. The reason why is because the VA loan is so prominent, right? So think about it. Remember, we talked about the situation. You have no equity. If you sell it, you gotta pick money out of your pocket. VA loan is 0% down. That's a perfect situation where you have no equity in a property when you buy it brand new. And the military does something called a PCS, a permanent change of station. They force you to move every three to five years. You ain't building no equity in three years. You know what I'm saying? So military towns are extremely prominent for something like a subject too. Um, and it just happenstance, you know. Um what I always say is, and I forget who said that, I think maybe Jim Rohn said it, right? Um, you're compensated in direct proportion to the size of the problem that you solve. Right? So when people come to you and they say, Hey, I got a problem, I can't sell my house, I gotta come out of pocket. Let's solve this problem, let's talk about it, right? And then you can find a deal like a subject to where your return is excellent, but it's a win-win all the way across the board. The lender still makes their money, the seller doesn't have to foreclose or have to come out of pocket, you get a screaming deal for little no little no money down. Right. And so it's just by solving those problems and being like like you were saying earlier, man. It's just like having that tool on that tool belt, you know what I mean? And it just happenstance came, you know. Uh what they say, luck is when uh opportunity means preparation. You know what I'm saying? Now prepare, prepare, prepare. The opportunity presents itself, boom, went for it. Okay.

SPEAKER_06 21:58

So let's say I got. A I got a deal or an auction, right? And they keep pushing this deal back on this auction. And like they give you the information, like, hey, this law firms over this auction property. Is that a good subject to deal? No.

SPEAKER_03 22:14

If you no, because it's already an auction. Okay. That means it's already gone through its whole foreclosure process or whatever. So now you're dealing directly with the bank. You see what I'm saying? Got you. Whereas a foreclosure situation, you want to deal directly with the seller. Gotcha. Okay. Yeah. That wouldn't be a good situation for that one.

SPEAKER_04 22:32

And and how much does the lawyer the lawyer usually charge for this process?

SPEAKER_03 22:35

So that process there, on average, and this is everything now. Uh closing costs, the the documents for it, the um the contract, all that good stuff, is roughly about $1,500 to maybe about $2,000. So it's not bad. It's not bad. That ain't, yeah, that's a good deal.

SPEAKER_04 22:53

You walk for the price for the

The $14,000 equity subject-to house hack Airbnb combo deal

SPEAKER_04 22:56

price of a hoopty you get in the house.

SPEAKER_03 22:57

Exactly. Exactly. And and I'll I'll tell you what, I'm gonna share with y'all my best subject to deal yet. Okay. This is where you get super creative, right? You start adding all the all the tools. I don't pulling out hammers and bandsaws. All right, so check it out. I did a subject to on a duplex. All right. I got it for about 116. That was what was on the loan, about 116,000. I paid all the closing costs, which was about 2,000, and I paid another 2,000 to the seller for moving costs and things like that. So all in, I'm in at $120,000. The property appraised immediately for $134. I already walked into some equity. Okay. I lived in now what I did was I subject to it, so no money out of my pocket. I house hacked it. I moved in on one side, put another $5,000 into the renovations on the other side, and then I furnished the furniture and did Airbnb on the other side. All right. So now I'm doing a subject to househack Airbnb. And I was able to generate enough income to pay the property manager, utilities and internet for both sides, make the furniture payment, all day, and the mortgage, and the mortgage on it, and still net cash flow about $1,200 to $1,300 a month on that one deal. And I'm living on the other side. Living for free. Living on the other side. Oh that right there just goes to show you the power of you know being creative and open-minded, right? That was literally three different strategies combined to make an amazing deal. Now, that was literally the last place. I'm now in Charlotte. That place is still in Fayetteville. I'm now Airbnb out the other side, right? I haven't got a tenant yet, but I got two Airbnbs. I mean, hey, let's see what happens, right? You know, we'll see down the road. But yeah, man, it's just the power of creativity. Problem solved.

SPEAKER_04 24:46

I love it. And so what makes you um when it comes to the choosing between doing a flip or holding it or buying a hold? What what what's the process in that? What what what makes you choose one or the other?

SPEAKER_03 24:58

Absolutely. So um I have different so first and foremost, every investor

Backwards planning from ARV and knowing your metrics for every strategy

SPEAKER_03 25:03

must have their metrics, their performance metrics, down to a T. Down to a T. Because otherwise, we get this all the time. An investor might come up and say, Hey, uh, find me a good investment. Come on, man. What does that mean? Good investment? Like, come on, man. What is that, right? Give me something I can I can use, right? Cash on cash return, IRR, whatever. I just give me something. When I look at every deal, I essentially say, okay, I start with the end in mind. What do I want this deal to do for me? All right. And then I basically say, like, where what can I best buy it at? Like, what is the most you know, uh, accurate representation of it? And I always do a backwards planning approach. I always start at the end. So I go with the ARV, right? After repair value of a property. I figure out what that is first and foremost. You know, the general like rule of thumb for the max allowable offer is 70% of the ARV minus repairs gives you your absolute max that you can offer. And that's a good general rule of thumb, but I look at it holistically. If it's something like a flip and it's a $200,000 property, percentages can be skewed greatly because I can still make a profit of $20,000, right? But a $200,000 property, it makes it only look like 10%. So if you're doing a 70% rule, you're just cutting yourself out of the deal, right? So I have a metric literally for every single one of my investment strategies. So for a flip, my metric is I must make at least $20,000 in profit, right? It's not a percentage. If it's a buy and hold rental, then I want to make sure that I'm leaving very little money in, but I use cash on cash return as my metric, right? And so I use that. And so you just have to be able to evaluate every property in many different ways and figure out where it fits, because it would really suck if you only had one strategy and it didn't fit and then you just threw it away. But you could have made $20,000, right? You know what I mean? So it's like you have to you have to know your metrics, is what it boils down to.

SPEAKER_04 26:58

Man, that's some good knowledge today. Um, how about when you're doing a flip or or when you're doing renovations at all? How do I how does that work? I mean, how are you good at dealing with contractors or do you do a lot of the stuff yourself, or how does it work? I deal with contractors, man.

SPEAKER_03 27:14

Yeah, I deal with contractors. I'm not gonna lie to you. I'm not gonna lie to you, man. So well, I did I did lit live in flips before, but I did the work, and that's when I learned that I'm not gonna do that again. Like I'm just gonna get that, I'm just gonna get the contractors, right? Um, and then you gotta you gotta bet the contractors because not all contractors are created equal. It's very difficult to, you know, to find a good one and so forth and so on. But when you find a good one, and it is it is worth it, it is worth it. Uh, so now within our markets, we have contractors that we've done obviously for our own personal stuff, but we've opened them up to our clients and they're just excellent, right? When you're looking at um uh contractors, one of the biggest things is um transparency and

Contractor systems: same package every flip, same cost per square foot

SPEAKER_03 27:52

communication. I'll just kind of ball that all up into really one. I've seen situations where you say, Hey, um, I got $10,000 to use on this project, but this is what I want, right? And the contractor will do what fits $10,000 budget, but not what you want, right? That's not good. That's not good because now you just lost control of the situation. There's other times where you can basically, well, like how we have it now is we basically have a package, right? So when we say, hey man, I want you to go look at this property right here. Uh we it's the same thing for every single property we do. It's the same countertops, it's the same paint, it's the same flooring, it's a package. So now when you go in, you can't you can't BS me and tell me, yo, this is gonna be ten dollars a square foot. No, it's not, it's four dollars, man. We did it last week. You know what I'm saying? Like, like it's boom, it's right in there. But with that, with that package, also it allows you as the investor, you know, your cost now. You know your cost, you know the labor, and you know the cost of material because it's the same thing every single time. And now you can look at a deal and be like, boom, that's immediately uh $15 a square foot for this property, $1,500 square feet, blah blah blah boom, that's my repair value. I love it. I love it.

SPEAKER_04 29:01

And and do you put them on the payment schedule to keep them motivated?

SPEAKER_03 29:05

Uh so it depends. I mean, right now, honestly, we uh we put enough money for them to buy the materials and then we pay the rest at the end. That's just the agreement that we have with our contract. It's not gonna be like that. Some contractors are very strict. They say, hey man, we need draw schedules and things like that. Matter of fact, on the uh on the nine-unit Airbnb that we're doing, it's a renovation. So it's gonna be a Burr, right? Uh cash out refund on the back end, a Burr B, right? We're gonna turn it into the back end. Um, but in that situation, because it's such a large project, we have to do draw schedules, right? So it is gonna be dependent on your contractors, but it's extremely important for you to understand, you know, how that money is used, how the contractors work, and then that way you can you can go because everything's negotiable. Everything's negotiable. Don't let a contractor come to you and be like, this is it, and this is this is how it's gonna be.

SPEAKER_04 29:53

You know how Chevy was on bigger pockets, you know. She's uh she's a superstar now, right?

SPEAKER_02 29:57

Oh, yeah, she's a she's a superstar. She's a killer.

SPEAKER_04 30:00

Well, well, they they um what's I'm gonna call it? They they said that she came up with the Burr B and B, but I I have a have a hunch that she might have got it from you.

SPEAKER_03 30:09

No, no, she got it. I'm gonna I'm we both got it from Dan Kidd, bro. So there's another guy named Daniel Kidd. This dude, uh he's a killer, all right. Killer by the way. This mother, this dude, uh see, I'm about to cuss again. Sorry. This dude went around in uh his first year ever, ever, ever in real estate. He got licensed immediately. First year ever, closed 57 transactions as a broker and purchased 48 rental units. Killer. He's one of those like beautiful mind people, you know what I'm saying? Like he just has like algorithms and stuff just floating around in front of his face all the time. But uh, he's that creative genius that came up with Burr B, uh turn B, Turnburr, all those stuff. That was all him, man. So we stole that from him. Like, but I love it. Yeah, he's good people.

SPEAKER_04 30:58

Oh we'll we'll get him on the show next.

SPEAKER_03 31:01

Oh, yeah, oh yeah, oh yeah, he's good people.

SPEAKER_04 31:03

Is he also ex-military? Yeah, sure is. Man, it's that military mindset, right?

SPEAKER_03 31:09

Hey, I'm telling you, man, uh, the military. So I I wrote a book right here, The Elite Investor. I got always got it up right there. The elite investor, a military approach to real estate problem solving, right? But but my thing is always um, because I love educating veterans, we get taught so much in the military how to run a damn business. But it's not it's not told to you that way. But when you really look at it, the systems, the way that everything is operated, the the counseling sessions, the you know, the probationary periods, the training, the boot camps, that is literally how you run a business. And if you could just learn how to interpret that over into something else, I mean, God, it's so powerful. It's so powerful.

SPEAKER_06 31:47

And that's your book, The Elite Investor. Yep, the elite investor. Yeah, I just added that to my list, man. I'll give that a little bit.

SPEAKER_04 31:53

Where can we where can we find that book at? Yeah, Amazon. You can find it on Amazon.

SPEAKER_01 31:56

You know, I'm a simple guy. I'm a simple guy. Go to Amazon.

SPEAKER_06 32:00

That's what's up, man. So you're doing okay, so you're doing birds, you're doing subject twos. You got it all on your tool belt. So I'm gonna ask you some advice. I'm gonna tell you what's the one thing I'm going through right now. Okay. So I feel like I bit off more than I can shoot. I'm gonna see if you can help me, right?

Live coaching: private money at 8% to bridge Myka's 1031 exchange

SPEAKER_06 32:18

Okay, so I got I got a refinance going. Okay, it's just started up. Then I have a rehab, a renovation that I need to do here at my personal house because I can hold off on that. But I got a renovation I have to do at my uh condo, but I can't move money around because you know they start looking funny. Yes.

SPEAKER_03 32:37

So, what would be your idea of uh being creative in that situation? So, first and foremost, the refi is gonna take priority because if it's already in the process, as soon as you start moving money around, it'll mess that thing up. So get the refi done. That takes that's priority number one, period. Now, as far as supplementing income, I would say private money loan, man. Seriously. I don't know, you know, I don't know what your network looks like, but if if you could borrow money at you know six percent or seven percent interest-only payments to do a quick rental, that might be a great way to do it. Now, let me ask you this you're gonna rental a condo, but is it uh what's the end strategy? Are you just gonna refinance it or are you just gonna rent it?

SPEAKER_06 33:17

I'm gonna 1031.

SPEAKER_03 33:18

Oh, okay. So you're gonna rent 1031 into something else. Yeah, put that short-term private money all day, baby. That's short-term private money all day. Interest only payments. Come, you know, find somebody and be like, hey man, I'll give you 8% interest only payments for six months, seven months. Boom. Oh, I like the way you do business. Go for it. Yeah, go for it. Somebody, I'll tell you, there's a lot of people out there that'd love to give you money for 8%. I guarantee it. Get it done, boom, short, quick, 1031. It buy you something nice or pay them off. Everybody's happy. Win-win-win.

SPEAKER_06 33:46

I like that. I like that. I think that's probably what I'm gonna do, man. See, everything happens for a reason. That's why we had you on this podcast now. That's what I'm talking about.

SPEAKER_04 33:59

Um, what are some like I've noticed uh I've noticed, you know, I was listening to uh what's it called? Um Tony Robbins today, you know. And um, and I what I noticed a lot about like him or other people that are that are kind of motivational, kind of like you know, telling you, you know, successful people.

SPEAKER_03 34:15

Right, right.

SPEAKER_04 34:15

And it's saying it's not like you know, it's it's the little things you do every day that add up to the to the big picture, you know. So what are like some of the little things that you that you started doing and you kept doing and you and that led to your success?

SPEAKER_03 34:29

Yeah, that's a great question. So the one, the number one book that literally changed my entire life around was The Compound Effect by Darren Hardy. And it's literally about that same concept. It is quite literally about the little stuff you do every single day that compounds into what you become. And I took that very, I took that to heart and I just went running with it. And ever since then, it's just been a non-constant or a non-stop journey. It's like non-constant. It's been constant, it's been constant, right? A journey to the top. Um, but um, another great book that helped me figure out what to implement was The Miracle Morning Millionaire, right? By Hal Elrod. And essentially in that book, he calls it the Savers. It's six items that you do every single day: silence, affirmation, vision, uh, exercise, reading, and scribing, which is just writing or journaling. But basically, what he did was he's figured out what the most productive top 1% of the world they do. And he found that those are the most common things, but nobody ever did all of them in one day. And so he created the book, Miracle Morning Millionaires, right? The habits of the savers, all six of them all in one day. And I will honestly say that when I started doing that, my focus and my clarity really got razor sharp. And that's when I was able to accelerate. I mean, at one point I had maybe seven rentals, and within one year, you know, I was over 40. Just because of the clarity, right? And that's the power of being able to just reflect, self-reflection, vision, visualize what you're doing, um, stay dedicated, say exercise, you know, doing the exercise, doing the thing that you need to do in order to function. And it doesn't matter if you don't want to. It really doesn't. Because if you if you read the book, he literally says you can do each one of those things for one minute and it will still have the effects. So if you think about it, that's six minutes a day. Why wouldn't you do it? Why would you not do it, right? And and in order to have those results that you want. Um, but ultimately I think it boils down to priorities, right? So a lot of people say they want to do something, but they don't necessarily do it. They don't get off the couch, they don't go to the gym, they don't invest, they don't buy the house. So it really comes down to priorities. And there's no right or wrong answer, but when something is really important to you and you really prioritize it, there is nothing that's gonna stop you from doing it. Period. That's ultimately what it boiled down to me. I just got obsessed with it. Just went for it.

SPEAKER_04 36:58

That's beautiful. That's beautiful. Um on that note, man, it kind of slipped my head a little. Okay, okay. So yeah.

Why Mike left the military and started obsessing over real estate

SPEAKER_04 37:08

So you so you're uh okay, so the military, your military career, you're a veteran now. So was there a point where you're saying it's kind of getting in the way of your investing, or were you humming along, kicking butt, and you said you were doing military full time, or did you say, man, if I if I you know if I got out, I would just you know explode?

SPEAKER_03 37:27

So it was a mix. So um I did think that you know, once I got out, I'd be able to focus full time and it'd be great, which it which it is, but um a lot of it really was just the the the stress of the military for me. I mean, I like I I think I mentioned uh I had a bad deployment, you know, lost a couple good buddies. Uh just I was like, there's no way I could do another 10 year, like to stay sane. You know what I mean? I just couldn't do it. And more power to every serviceman and woman out there that that do 20 and more, you know, God bless you all. I just couldn't do it. So I had to find something else. And so I started searching, and I've tried everything. I've tried everything. I did all the MLMs, I did the Am Ways, I did the Herbalifes, you know, I was selling Pokemon cards. I almost got into prostitution. No, I'm playing, man. But I tried, I tried everything, man. But uh real estate just kind of came like naturally to me, and uh, I enjoy it, right? And ultimately, the way that I live my life now, Shelby's the same way. The way that we live our life now is like I'm not gonna go back to something I don't enjoy doing. Nah, man, life is way too short. We've all lost loved ones, we all lost friends. I'm not gonna go back to something that I don't enjoy. I'm gonna make sure I enjoy it, I'm gonna make the best of it, right? So, my biggest thing that I always preach now is we design lifestyles, right? It's not investing for you know a retirement account, it's not revestifying, no, no, no. We we we design lifestyles, we invest for the lifestyle that we deserve, right? If I want to go to Bora Bora 12 times a year, I deserve it. How do I design it? How many houses do I need? You see what I'm saying? So that's that's kind of my mindset now, man.

SPEAKER_06 39:04

Yeah, you from H Town for real, man. You got that H Town hustle all up in you, man. I can see it for real.

SPEAKER_05 39:11

Damn.

SPEAKER_06 39:12

I love that. I love that, man. You inspiring the hell out of me, man.

SPEAKER_03 39:15

I like that. I like that. Y'all got me over here hot and everything.

SPEAKER_04 39:21

It's the wine, man. It's the wine. Yeah, it's the wine. So, how how are some ways that you reward yourself when you hit goals?

SPEAKER_03 39:27

Yeah. Oh, that's a good question. Um, so me personally, I always like to pursue something new. That's just my thing, right? So some people say it's like, oh, you overworked, but it's like I find enjoyment out of that. So one way that I reward myself is I literally signed up for a Spanish class, like community college, right? To me, that was a reward. I felt like um I'm a very frugal person, to be honest. Um, and I feel like the things that I really want are really expensive. You know what I'm saying? So it's like, all right, well, let me earn some of these things that's gonna cost me money. So where some people say, like, hey, you know, I got a new job, I'm gonna go buy a new truck. I'm like, no, no, no, I'm I need to earn that. I have to hit a certain performance metric before I can do that type of thing. That's how I pretty much reward myself.

SPEAKER_04 40:09

Is nice, nice the things I want. On on the Spanish front, yeah, you know, it's um there's there's this program they got in Guadalajara, Meh, Mexico. Yeah, yeah. And um, it's it's um it's called E Mac, the school or uh IMAC, like IMAC, yeah, you know, and um, and it's a Spanish immersion program. And back, you know, I did it, you know, I I didn't grow up speaking Spanish, my parents didn't speak it to me, but I started learning on my own and stuff, and I just really wanted to, you know, top it off. Yep. So I went over there, I did a whole month there, and then and they they put they even put you in a family, room aboard, all three, all your meals paid for, like four or five hours of school a day. And it's like man, it came out to like 900 bucks for the whole month. So if you want to do something like that, you know, get away to Mexico for a month, it's it's a really cool experience, man.

SPEAKER_03 40:53

Oh, I appreciate that, man. I I've literally was looking into um immersion courses like that, and I seen some in like Honduras and uh uh uh Peru and things like that, but I mean I'll definitely look into that one. Yeah, absolutely. I really appreciate that.

SPEAKER_04 41:06

Yeah, that's just uh yeah, it's right down the way. Yeah, exactly. Exactly. It's right there. It's a cool experience, man.

SPEAKER_03 41:11

Yeah, you have to be immersed into it. So yeah, I really I really appreciate that.

SPEAKER_04 41:14

Yeah, yeah, people of all ages there, man. You might end up falling in love with a chick. Oh, wait, I don't know if you're married or not.

SPEAKER_03 41:20

No, I'm not, I'm still single, man.

SPEAKER_04 41:22

Oh, there you go. That's what happened to me, man. So I yeah, I brought mine back. So there's a beautiful woman down there. I'm just saying.

SPEAKER_06 41:33

I'm just I I I have a question for you because

The worst deal ever: a thousand dollars lost and a relationship ruined

SPEAKER_06 41:36

you told us about your best deal. What was one of the worst deals you got into, and how did you get out of it?

SPEAKER_03 41:41

Oh, say less. All right, so uh one of the worst deals ever, man. When I first was getting into it, was whole it was a wholesale deal. I didn't know what I didn't know, right? So I got in, I found this deal, I ran the numbers wrong, and I told this lady, I was like, yo, I can I can offer you uh like 68,000 for the house, right? Um then it was occupied by her brother, who was unemployed and everything else. I was like, Man, look, I can't sell it if it's occupied, he needs to leave. So she kicked him out, right? Then I was still in the military, I ended up deploying, and I was like, Oh, I gotta do something with it. So I gave it to another wholesaler who I thought was gonna finish it off. Long story short, the brother was homeless for about two months. The wholesaler didn't close the deal, didn't even follow up with the buyer. So she ended up foreclosing on the property. I left a thousand, I put a thousand dollars down for the wholesale contract instead of like a hundred or a dollar, like most wholesalers do now. So I lost a thousand dollars and I came back, and my relationship was ruined, not only with the seller and the brother, but with the property manager who made the introduction. Complete loss of rapport. It wasn't about like a thousand dollars was a thousand dollars. But I mean, I just completely tarnished my name with an entire company and I made somebody homeless. Like that was the worst deal ever. Like I learned a lot from it, but damn, that was a bad, that was a bad experience. Yeah.

SPEAKER_04 43:11

I guess you know, it's funny because the the whole money thing, you like you said, it's a thousand bucks, but what what really hits home is like, wow, how you felt bad, you know, about that, you know, that guy being homeless, of course, and about your relationship. It really shows what your what your goals are and what you align with, because you care more about relationships and helping people or than than money, and that you know, actually gets you more money in a way, you know.

SPEAKER_03 43:34

It does. Because I'm gonna be honest with you. For people, people who care about money, are they are they worry about money or people who don't have money? Let's be honest. Let's be honest, right? Because if money was like, think about it when you're breathing right now, are you thinking about oxygen?

SPEAKER_06 43:46

No, you got it.

SPEAKER_03 43:48

Nope, right? When you have money like that, where it's like oxygen, you don't care, right? I am a firm believer that money is not gonna change you, you're gonna be whoever the hell you are with or without money. So if you can start. Start thinking and and and visualizing what it's like to be somebody who is truly wealthy, and the person that you want to be, right? A philanthropist, right? Somebody who gives and all this other stuff. Why are you waiting to do that until you got money? Why aren't you doing that now? Become that person. And when you become that person, law of attraction, whatever you want to call it, things kind of flow your way. It kind of works out in your favor. It's really weird, but it happens. You know what I mean? So uh I'm a big firm believer in that everything we do, even with our uh Realty team, we come from a position of value. We want to provide as much value for free as possible because when people care or people know that you care, right? At that point in time, they're like, you know what, I'm willing to pay for that service. I'm willing to compensate you for that service because that's what I want.

SPEAKER_04 44:50

You're genuine.

SPEAKER_06 44:52

That's what's up, man. That's what's up.

SPEAKER_04 44:55

Going back to the management management, real quick, I know we're jumping around all over, but how how do you have any tips on managing your managers?

SPEAKER_03 45:04

Yeah, that's actually a really good

Managing the managers: what information you need and what you don't

SPEAKER_03 45:06

one. So I always tell people, because that's the first question that comes out the gate, right? Oh, I want to self-manage so I can learn the process, and then I want to hand it off to a manager. And that's fine. But like I said, I say it over and over again, I always start with the end in mind. If you want to be the manager, then you need to learn how to manage the property. If you don't, then you need to learn how to manage the managers. Would you rather have two more additional years learning how to manage the managers or how to manage the damn property that you're not gonna want to do, right? So I always say start with the end in mind. If you want to not manage the damn property, hire a property manager, ASAP. That 10% that you're paying is not gonna make you rich in the next 12 months. Pay them. Now you have one less thing that's on your plate and you can focus on acquisition, on growing the portfolio. It just makes sense that way. Now, when you're managing the manager, ultimately it comes down to what information do you need to know? What information is important to you? So for me, I don't give a damn who signed the lease. I don't care. I don't know that person. I don't need to know the person. I need to know what are the biggest uh expenses when they come up. I need to know when tenant turnover is coming up so we can focus on like lease uh management, right? So let's say, for example, you got 100 doors and all of a sudden 40 of them, they all expire on November the 3rd of 2020. It's like, oh crap, that ain't right, right? We all want them to expire at different times throughout the year, right? That's like lease management. I want to know that and I want to know big expenses. Now that I know that, all I need to do is make sure that my property manager can can execute that. You're good to go, right? I got my own reporters, I can pull my own statements if I need to. I got my bookkeeper involved, great, boom. I can check my management leases, great, boom, I got all the information I need. Now, if we have to have a deeper conversation, we can do that. But at that point in time, you've met all the criteria you need for a property manager. Nice, yeah, keep it simple.

SPEAKER_04 47:05

I guess because I've been telling um um Micah that I've been struggling with it a little because I've doing, I have my these are my first two arbitrages, you know, and I just got these up and going recently. And so, and I'm like, man, dude, you know, because I've always managed my own Airbnbs. And I'm like, dude, you know, the I don't see that I don't I don't see any results right now. I don't see any bookings coming up, you know, and and man, are they doing it right? Are they are they checking this? Are they pricing it right? And and he's like, Well, you know, are you making the rent? And I was like, Well, you know, I made the rent the first month, and he goes, You're making a profit, I made a little profit. But um, he goes, I said, but you know, I'm worried about the next month coming up. He goes, Well, you know, measure that at the end of the month. If you didn't make the rent, if you didn't make a profit that you wanted, then you start talking to him. And I was like, Ah, I just want to, I just want to, you know, be hands-on and tinker. But like, you I guess that you kind of get given freedom, but with kind of a little bit of limitations. I don't know. It's like a balance, right?

SPEAKER_06 48:00

I'm gonna kind of give my game on that. Like when I told Steve that reason why I tell people that is when you when you put yourself in the way of letting someone, if you don't want someone to make a mistake, you stop their growth and you stop yours. But mistakes are the only way people learn. So that's I was telling Steve, let them make a mistake. If they make the mistake, then you can talk to them. But if you stop them from making that mistake, they'll never they'll never learn. You know what I mean?

SPEAKER_03 48:27

Yeah, that's a good point. That's a really good point, because you're right, you gotta learn. Um, I actually really like that that mindset on that one as well. The biggest thing I look at is when you build out something that's that that can grow, you know, as you scale, it continues to grow, think about it. That's a system that's put in place. Think about McDonald's, KFC, doesn't matter, right? When they go do their burgers, is you go bread, patty, cheese, boom, you know what I'm saying? They can hire anybody to do it because it's a system. Oh if a client came in and said, Hey, no, man, I don't want beef, I want salmon, and throws off the whole system, are they gonna be able to accommodate? No, because they just customize the service for that one individual. So now you sitting as the tenant, if you're trying to customize this whole service of a property management company, which is that's their business, they built a system, you're the problem. If you want to be hands-on like that, create your own damn property management company. And you can develop the system, right? That's the way I look at it. Um, and it and everything starts with expectations, right? So if you expect them to do all this, but you didn't ask the questions up front, now you just made you just hurt yourself, right? Because you expected this and you got this, now you're mad. Everybody only gets mad because they expect more and they receive less. If you really think about it, right? That's really the only time you ever get mad. It can be in a relationship or whatever. You expect something, but you get less. So, in a situation like this, I would always recommend that you go in and you ask all the questions you need up front from the property manager so there's no surprises, then you won't be mad. You know what I'm saying? You give interview them. If they don't give you what they said, then it's like, all right, no, now I'm mad. You told me, man. There you go.

SPEAKER_06 50:09

That's what I'm saying, man. Let them make the mistake. Now you gotta holler at them.

Interview your property manager and test them with one property first

SPEAKER_06 50:13

Yep, yep, yep.

SPEAKER_04 50:14

Right, right, right. So you you interview them, you give them an interview.

SPEAKER_03 50:19

Absolutely. I interview everybody. Absolutely, I interview everybody, and I'll be willing to even like test them out a little bit. You know what I'm saying? Like I'll give them a property or two or whatever, let them test it. I'll never hand over the entire portfolio at once. I'll never do that. I'll let them test market sample. And if they're good, I'll give them a little more. Give them a little more, give them a little more. And like now, my long-term rental company, they got all my properties in well in Fayetteville. Obviously, I got them in different states now, but in Fayetteville, North Carolina, one company got them all. What state, what states do you invest in? Uh, Georgia, Illinois, and North Carolina right now.

SPEAKER_06 50:51

Okay.

SPEAKER_03 50:52

I'm I'm open to more. Texas, I'm open for it. I just don't have a team built out there. That's the biggest thing, is I gotta have the team.

SPEAKER_06 50:58

And it's funny because I'm 1031. I'm doing a 1031 on that condo, is because I can get out of Texas because the high-ass taxes, but uh, you know, you can still make money here, right?

SPEAKER_03 51:08

Oh, absolutely, Texas. You can make you you can make money in any market, and again, it just boils down to what you know, how you know how to manipulate the tools. But you can make money anywhere, and that's one thing I love about real estate. Think about it. There are certain people that invest in real estate that want the non-cash flowing property to hedge against their high taxable income. Damn, that's a well, we look at it, and that's like that's not a deal. It's uh it's a deal to somebody.

unknown 51:34

Somebody.

SPEAKER_03 51:35

That's what I love about real estate, man. It's like you could you can make anything happen.

SPEAKER_04 51:38

Now, can you can you give me an example of like let's say let's say you see something going down and and your manager, I don't know, they might not be handling it right away, and you'd be like, Man, I could just jump in on this, but you prevented yourself from jumping in and handling it because no, no, no, I'm paying them to do it, I'm gonna trust them to do it. Can you give me an example of that? Has that ever come up before?

SPEAKER_03 51:59

Oh, yeah, there's there's uh there's times where you can always offer uh suggestions or input as well, because I I do as well. So, like for example, there was one um it was a tenant turnover situation. Um, they had left, they just left. Like the lease was still in place, they just left, all their payments was basically not going through and everything else. And then I was like, ah, we can chase them down and we can do this or we can do that, you know, option A, option B. And my solution was like, why don't we do a hybrid? Like, why don't we just go ahead and start the tenant turnover? I understand that the lease is still in place, but why don't we initiate this and initiate that and go for this, right? And it was just more of like a conversation. Um, there's times where you can kind of do some of that creative problem solving because think about it, not everybody knows everything, but you might have a good solution that they may adopt into their business model. Right? So it's I'm big, I am big on communication. Always if you got a problem with something, address it. But don't expect that company to completely morph their entire model and systems just off of your complaint, right? They may just tell you, okay, I understand this, but this is why we do X, Y, and Z. And then you should be, you know, I'm not saying that you have to be content with that, but now at least you understand it, right? Because you communicated about it.

SPEAKER_04 53:19

Right, right. And I and I guess it takes me back to like the biggest example that I can see is you're you're a Cowboys fan, right? Yeah, they're struggling right now. Yeah. And they are. And what's been the problem over these past 20 years, the biggest problem about how why the Cowboys haven't been, you know, win the Super Bowls?

SPEAKER_05 53:36

Jerry Jones. Yeah, yeah.

SPEAKER_04 53:38

You know what I'm saying? Well, that's what everybody would say. It was Jerry Jones, and he's the owner of the team. And he can't, um, the only time he's been super successful is when he's got someone in there that won't let him meddle, you know what I'm saying? That has the that has the balls to stand up to him, like Parcells or um or Jimmy Johnson, you know, and he's been uber successful with those guys. But then when he puts his puppets in place where he can do this and that and he can talk to the players directly, that's when it gets all messed up.

SPEAKER_03 54:10

Yep. That's a really that's a really good example. That's a really good example because you're not a you know, for the same scenario, you're not a property manager. So how the hell are you gonna tell a property manager how to do their job better? You see what I'm saying? That's a really good example. Yeah, if you start trying to meddle in those places, yeah, you're gonna get lackluster performance. I like that.

SPEAKER_04 54:29

You end up two and six right now in the PC.

SPEAKER_03 54:32

Enough of that.

SPEAKER_04 54:33

Enough of that. Yeah, we're Cowboys fans too. I know Michael's Michael's threatening to jump ship, but I don't think he's in the jump ship.

SPEAKER_06 54:41

But yeah, that that's man, that's some good combo, man. Because I I'm real big on, you know what I'm saying, let people make mistakes, learn, and then you can focus on growing, you know. And I'm happy, I'm proud of Steve, man, because Steve went ahead after they got that first release. Shit, he went and got another one. I was like, yeah, go get another one after that.

SPEAKER_04 54:56

You know what I'm saying?

SPEAKER_03 54:57

And another one.

SPEAKER_04 54:57

Yep, go for it. Another one. Um, financial freedom. Yes. Have you attained it yet? Yes. You have, okay. And okay, and we'll we'll go back to exit strategies too. So is you're doing this, I assume you love real estate. But do you have an ultimate exit strategy for get hopping out of this, or you just you foresee yourself doing this forever?

SPEAKER_03 55:20

Um, so I'm not gonna sell real estate as a broker forever. I'll work with a few clients, um, but I really do enjoy educating newer agents on the same process, you know, um, um, you know, mentoring them and basically got into the through the transaction. So I can see myself consistently doing that. Me personally, I will continue to always invest in real estate. That's you know, that's where I'm at. You know, whether it's flips, syndications, um, luxury resorts, I don't care. It's gonna be in real estate, right? Until I have so much excess income that I can then put into stocks or whatever else that makes sense, I'm gonna stay focused in real estate. My ultimate exit strategy is non-existent. I'm not gonna lie. I've had multiple midlife, quarter life prices, whatever you want to call it, right? Where I'm just like, why and why am I even doing all of this, right? And I still haven't even determined that. But I do know that when I'm able to educate, especially a veteran, but anybody, on like, hey man, let's just use this, this, and this, and it drastically changes the trajectory of their life. I feel the ultimate satisfaction at that point in time, right? And so I do know that I'm gonna be aligned in that manner somewhere in the future. Don't really know what it looks like. So maybe writing some more, maybe writing some more books or doing the whole uh I have a podcast, military cash flow, where it's targeted to and uh veterans on how to create more passive income, things like that. So, you know, we'll see. We'll see how it all kind of turns out. Can you repeat that military cash flow? Yep, military cash flow. That's what's up, man.

SPEAKER_06 56:56

I'm like, I I get like I've been telling people I'm happy, like when you people like you, Shelby, Adam, Alvin, y'all come on the show and y'all y'all been in the military and y'all can help the veterans who probably don't know where to go when they get out. That's what's up. Because my dad served a long time, served,

Biggest financial mistakes young soldiers make leaving the gate

SPEAKER_06 57:12

I think 20-something years, and you know, and he really did a good job with what he did when he got out. So that's what's up, man.

SPEAKER_04 57:18

So, like, what's the biggest mistakes with with uh youngsters entering the military, like money-wise?

SPEAKER_03 57:24

Oh, that is a really good question. So the first one is uh buying the damn 2020 Corvette at 7% interest outside the gate. I'm like, what the hell are you thinking? That is a I'm telling you, like, we joke about it, but that is a serious thing. Like they do that, and they don't know any better because they don't know financing, so they like, yeah, I can get it for 7% interest on a car loan, bro. Oh my God. So that's one of them. All right. Uh, two is the simple fact that you know most of them are 17, 18, 19. They get their first little checks. They go out, and I mean, I have a lot of tattoos. Don't get I made mistakes, right? No, I'm proud of my tattoos, but I've spent a lot of money on them. That's what they do in the military. They get these first checks and they go straight out. I'm gonna tell you, it got so bad that literally one of the tattoo shops started financing tattoos.

SPEAKER_01 58:11

Oh, come on.

SPEAKER_03 58:12

Financing tattoos. So I mean, come on, and it's like, like, so seriously. I mean, mistakes, um, they just don't understand money, right? So, financial literacy is is a huge issue across America in general. Um, and is extremely uh lacking in the military as well. Um, there are so many benefits that the military offers to include their retirement account, which is their version of a 401k, it's called a thrift savings plan, very, very low uh management fees, actually, probably the best in the entire nation, and they actually match up to 5%, which is good, right? And then the fact is, as you're aware, if I put in 5% and they match 5%, when I say 5% is of the base pays, right? So just if I put in $100 and they match $100, I've just made 100% return on my investment. You can't get that anywhere else. And the simple fact that you know newer, younger kids are joining the military and they don't even just conceptualize the benefits that they have to take advantage of it, it's one of the you know, the biggest like downfalls. And so we always are just trying to educate them like go go to the financial office and just ask them what's available, like just ask, like just start taking advantage of those things, right?

SPEAKER_04 59:30

Or maybe let check out your podcast.

SPEAKER_03 59:32

Yeah, check out the podcast. We got all kinds of episodes, yeah.

SPEAKER_04 59:36

If you're in the military, I'm still wondering how does someone repo uh tattoo? That'd be interesting.

SPEAKER_02 59:42

Bro, yeah, exactly, exactly. It's like, oh, you didn't send out debt collections, like the arm off, like yeah, it's ridiculous, man.

SPEAKER_04 59:49

Man, that's cool that you're that you're out there helping out these kids, man. Because yeah, I've heard some stories too. The first thing they want to do is buy the baddest, the baddest ass car out there. Yep, and um man, it's it's it's crazy. And and that they have such like uh, like you said, a lot of opportunities, and they could even, like I said, they could buy a house in every everywhere they're deployed. They can buy a house in every every city that they're going to, man. And you and you with those VA loans, they could buy up to a fourplex. Is that correct? That's correct. Man, that's correct.

SPEAKER_03 1:00:17

So imagine now.

Twelve rental units in three years with a VA loan fourplex strategy

SPEAKER_03 1:00:20

I I always every time I sit down with a young soldier, I say, Hey man, how would you like to have 12 rentals in three years? And they're like, What? I'm like, nope, serious. Get a fourplex first year with the VA, you have to wait 12 months before you can use the VA again, another fourplex, another fourplex, because there's a limit to how much you can leverage, but you can literally, in theory, literally walk away with 12 rental units in three years, zero money down. Believe me, all their eyes, you know, yeah, but you just have to know what to look for, right? Knowing the questions to ask, but absolutely, it's definitely possible.

SPEAKER_04 1:00:57

That's beautiful, man. Dang. This has been like an amazing episode. We appreciate you hopping on Mike G in the house. And um, yeah, man, it is where can people find you, first of all?

SPEAKER_03 1:01:09

Yeah, yeah. I mean, you can find me on anything, obviously, five pillars uh realty.com. You can go to my Instagram, Michael.s.glassby. You can find me on Facebook, Mike G2, I think, something like that. Um, militarycashflow.com. And then I'm working on my own little personal website if you just want to see what the hell I'm doing there. So yeah, you can find me anywhere.

SPEAKER_04 1:01:27

Sweet. That's any um any advice for people out there that want to like, you know, hop into it, want to do it.

SPEAKER_03 1:01:32

Yeah, yeah, yeah. Absolutely. So the the biggest thing is again, again, start with the end in mind. What is the entire reason you're investing? Some people call it their why, right? Or whatever, that's fine. But once you can truly visualize what you want your life to look like, then you'll understand what strategy is going to be best for you. Then at that point, once you know the strategy, then you can identify the criteria. So if we say a thousand square foot, three bedroom, two, right? It's like a literal science almost, then at that point you have no reason not to take action because it's all laid out specifically customized for you. Now, if you're not making, if you're not taking action, it's just not high enough on your priority. You really just don't care that much. So that'll be that'll be my I like that.

SPEAKER_06 1:02:17

Yeah, that's a fact. That's a fact.

SPEAKER_04 1:02:21

Well, thank you, Mike G, for hopping on, and we look forward to having you again in the future, man. This is awesome.

SPEAKER_03 1:02:26

Absolutely, man. I greatly appreciate it, guys. It's been fun. Yeah, you inspired the hell out of me. I got some homework to do.

SPEAKER_04 1:02:32

I like it.

SPEAKER_02 1:02:33

I like it. We get to study and straight up.

SPEAKER_04 1:02:37

All right, man. Well, take care and we'll see you soon. All right, we'll do.

SPEAKER_06 1:02:41

All right. All right, that was Mike J coming with the game, man. That he inspired the hell out of me. So I'll I'm definitely I'm definitely about to go look into some private money tomorrow.

SPEAKER_04 1:02:56

Man, every guest we learn something new, man. It's insane. We're on a road.

SPEAKER_06 1:03:01

That's why I love this podcast, man. You meet so many cool people, man, inspiring people. So I'm definitely that definitely helped me. It's like it was for a reason now he was on, man. That definitely helped me.

SPEAKER_04 1:03:13

And it's funny that um I was, you know, it's it's kind of cheesy, whatever. I don't know. I was like, man, I need something something to I was feeling a little bit low. I need something to pump me up, you know, pump me up today. So I looked on YouTube and I found um Anthony uh Tony Robbins. Um, what's it called? The what's the famous one? The awake, the something within, the at least the power within. And they had the whole thing on there, you know, an hour long, whatever. I was in my car on my way to my truck on my way to work. Yeah, that's what's up. And but I mean it's it's oh man, it's some of it's like such it seems like common sense stuff, but it's freaking true. Like, for example, you know, you're gonna be the sum of who you hang out with, who you who you're around, you know. And he goes, if you're just hanging out with your old college friends, they just want to drink and do nothing, and just and then you get an aspiration, hey, I want to do this. Oh man, you know, that's too much. You know, you they they try to bring you back down to their level, right? Whereas you get into a group like with us, you know, with our friends and our real estate contacts, it's like, man, no, no, you could shoot you can go higher than that, man. What do you what do you just want a uh a duplex? Get a get a quad, get it, get a department. You know, it's people, it's we try to push each other up to do more, you know, and and then it's just it's just infectious. If other on the contrary, uh on the contrary, you lie with you lie with fleas, you get you lie with dogs, you get fleas, you know what I'm saying?

SPEAKER_06 1:04:33

Fastest way to kill a dream is tell it to a small-minded person. You gotta know who you're around.

SPEAKER_04 1:04:39

Yes, oh man, yeah, yeah.

SPEAKER_06 1:04:41

That's the fastest way to kill a dream, man.

SPEAKER_04 1:04:43

This Mike G episode is a lot like he got me like like hype, just like um Adam, Adam John, the Adam James episode, man. It's just like, wow, man, just damn.

SPEAKER_06 1:04:52

Man, um I really gotta say, man, we didn't have some damn good guests on this show, bro. Like, we've got Adam Johnson, Adam James, Mike Glasby, Shelby. We've had some like I'm telling you, if y'all have not watched all of our podcasts, we've had some we've had some heavy hitters on this podcast. Like, we've I don't know if y'all have watched, but we've had like some real live heavy hitters, deep thinkers, philosophers, you know. Steve's gonna always come with the flop philosophical questions every week. So yeah, man. That was that was we really have, man. And I'm happy you I'm happy you uh so how did did you ease up off the uh property management company?

SPEAKER_04 1:05:31

Um kind of sort of. Kind of sort of well the thing is uh what happened, they the the the renters that were had the one had it tied up for the whole year, right? Yeah, well she's she's jumping ship because she she has to get surgery and she can't go up and down stairs anymore, right? And so I even we even kind of like, hey, well you could just you know transfer your lease to the bottom unit, whatever. And so And I guess she wasn't going for that for some reason or whatever. Anyways, I don't know how they see the here's the thing. I don't know how they set up the lease. It's like a 12-month lease, they gotta pay that shit, right? Or she said something is like set up month to month. So I was already, I was already shit counting my chickens before it's hatch. She was supposed to pay on the first of the month, but she's like she just bounced instead, you know what I'm saying? Pay for this, you know how they pay the first of the month for the next month coming up. Yeah. And so I that's what I'm getting at. I I'm trying to communicate with them, and like I said, they're not the best on communication. But I was like, she's saying something like the well, she uh she in the lease she agreed to pay like uh you know a kind of a relaying fee if she bounced, you know.

Debrief: Steve's property manager let a tenant leave without the deposit

SPEAKER_04 1:06:43

Which if she's leaving already, why would she be motivated to pay it? Anyways, I don't know what's going on with it. They're working on it. They said we're working on getting you another long-term stay, or this and that. I just want to be in the loop of that because I didn't see my money on the first, you know what I'm saying? And like you said, because like I said, she was gonna supposed to pay on the first, and she she left instead on the first.

SPEAKER_06 1:07:04

They didn't collect a security deposit.

SPEAKER_04 1:07:08

They won't answer my questions, man. She's working on it, she's working on it. So I know I'm saying that's that's you would collect a security, like what, $1,500 deposit?

SPEAKER_06 1:07:18

Okay, okay, so now it's the first of the month and you didn't collect no paper.

SPEAKER_04 1:07:21

No paper.

SPEAKER_06 1:07:22

Now now it's time to, yeah. Now now it's time you gotta get that call in, like, hey player, we we we gotta run some numbers and we gotta talk. You know what I mean? See, now you you at that point. At first I was like, man, kind of ease up, but yeah, now you at that point. So, so for example, this past weekend, I just hired two managers, Frederico being one of them, and he's doing a hell of a job. I I gave him, I came to I gave him the keys to the Porsche. Like, look, if this dude ain't getting it done, get rid of him. If she ain't getting it done, get rid of him too. You know what I'm saying? You take over the hours, you can hire VA. I don't do damn. He's on it. Like he knows, you know what I mean? And then I handed over the other reins in my Arkansas operation fully over to my mom, and she's handling that. And so, what I'm gonna do is monthly, we'll just have a meeting once a month. Let me know how everything's going. If you need my help, holler at me. Because what I'm trying to do is just like Mike Glassby said, man, I'm trying to get into where I'm just acquiring deals because I got these renovations going on, you know what I mean? And I was kind of like, I was like at a crossroad. You know, when you I felt like I had bit off more than I could chew. And I'm like, man, damn, I'm gonna do this. You know what I'm saying? I'm like, I can't move money right now. They already said, Mike, don't move no money. We already got your refinance locked in. So appraiser goes out tomorrow. And then, but the the guy just gave me a quote on my condo, which I'm like, man, I like the quote, and I don't want to really want to hold off. But you know, I was like, man, I and then Mike really inspired me. He said, we don't say we can't, we look at how. I'm like, that's what I gotta get to, and that's why I said that's why I asked him that question, and he gave me the perfect answer. So we got to get real creative out here, man. But um, yeah, man, uh holl at them immediately. You know, you might have to roll up on somebody's door if you have to, but I need my money, and I need my money on time.

SPEAKER_04 1:09:09

That's what I'm saying. Yeah, so we got that going on. So whatever.

SPEAKER_06 1:09:14

So I have a cut, another question then. If they don't pay, do you have to pay the management fee?

SPEAKER_04 1:09:24

Well, not if uh not if I didn't get paid, not for this month. I guess that what well, I guess what they'll be doing is throwing it back on Airbnb for this month. But like I said, I haven't, I mean, I think like they said, I'm giving them the benefit of a doubt. Because she said the one that works with me, Nicole, she said that um, well, they're they're they're working on get you another long-term renter as we speak, because there's like a waiting list to get long-term renters into into these spots. And so, okay, well then that's all I know. Anything, anything else, you know, have you heard anything else? So I'm just I'm just waiting. I mean, it'd be great if I get another long-term stayer in there, like you said, if there is that waiting list and they're trying to accommodate one right now, plus I get that you know, cancellation fee or whatever that from that from that person that was staying there, yeah, that would be a win-win. But I don't like the no communication part. I like keep me in the loop. Let me let me know something. Hey, even though just like hey, we're still working on it. Hey, this or that, you know. But man, just like cutting me off cold. Uh, you know, that's a big deal. Where's my money?

SPEAKER_06 1:10:26

Yeah, now how long does their communication usually take?

SPEAKER_04 1:10:31

It just depends. It could be immediate sometimes when it's whatever issue, like a small thing. But if like something like this, like like I the last time I asked was about 6 30 today, and um nothing. But I I'd asked, wait a minute, I asked before that at 10 37 a.m. and nothing. So I ain't got a response all day from them on this situation. I'm just saying, uh, I might have to jump ship on that shit.

SPEAKER_06 1:11:00

No, I'm saying, I don't know, man.

SPEAKER_04 1:11:02

Lucky well, like just like Mike G said, he you might you might throw one property at them, see how they do, you know.

SPEAKER_05 1:11:08

Yeah, that's a fact.

SPEAKER_04 1:11:08

And then if they do good, throw another one at them. Like I said, well, they did they technically were doing good because they cut that first one rent it out for a year, and so I saw I well, I give them the benefit of the doubt. I'll throw this one at them. And so hopefully they're not just dropping balls, man. So we will see.

SPEAKER_06 1:11:26

I hate to hear that, man. Yeah, you can got your paper on the first, man.

SPEAKER_04 1:11:29

But like you said, deposit, right? That's that's like the reward one on one. At least send me that freaking deposit. Then I can get the deposit back if they jump ship without without any notice.

SPEAKER_06 1:11:43

Okay, I'm gonna kind of give you a position on that a little bit, and that kind of happened to me with this condo I'm in right now. So I worked out a deal with the lady who checked in. I it was a bad deal on my part. I was being too nice. Um, so she she ended up canceling her lease early. But I didn't keep, I'm not keeping her deposit because of the lease that I made up for her. I told her due to COVID, because I know a lot of leak a lot of nurses are losing their, not really losing their jobs, but their uh contracts are getting cut short. So I put a clause in there like, yeah, if you get your contract cut short, I won't charge you if you have to cut the lease. You know what I mean? I should have protected myself because I don't know, but she had to go back to New York, but I don't know if she really had to, or hey, you just know you can get out this lease, you know. So I know a lot of nurses are coming with that. So even like it might have happened to your property management crew, I don't know. But to me, I look at it as a look at it as a win for me because now I can go ahead and get this thing sold and get to where I want to be, you know what I mean? But yeah, you definitely gotta watch leases right now with COVID going on, you know what I mean? Um gotta be real careful with what they're telling you and what you put in the lease. I keep it 100 with you, my personal experience. Collect the security deposit. If you cancel the lease early, sorry, your security department's not refundable. You know what I mean? Mm-hmm.

SPEAKER_05 1:13:07

Yeah, yeah.

SPEAKER_04 1:13:08

Yeah, simple, simple real estate 101 stuff right there. Yeah, but I don't I don't know if they implemented it.

SPEAKER_06 1:13:14

Yeah, and that's a good question. Because I I don't it's so hard with COVID going on, bro. Like even I got into one of them situations where you know I kind of slid it by, but I gotta send a $500 deposit. I ain't tripping, you know, because I I I signed it, it was on me.

SPEAKER_04 1:13:29

Yeah, no, no, you live and learn, right? That's covered this COVID thing is throwing everything for a loop.

SPEAKER_06 1:13:34

It is. That's exactly what it is.

SPEAKER_04 1:13:36

But yeah, I'm understanding, and if it was something like that, yeah, I I would understand, but she knew the surgery might happen, and she was trying, I don't know. I learned it from I learned it from um across the hall. Um, what's her name? Um, Sarah was doing another unit across the hall from that one from my from my unit upstairs, and she had just bumped into the lady, you know, they just got a small talk, and she's saying, Yeah, you know, I love this place, but you know, I might have to get surgery and I won't be able to go up and down the stairs, blah blah blah. So Sarah sent me a heads up and I sent it to local. And of course, and and they started, like I said, they didn't reach out to me. I had to like hit them up a bunch of times. Hey, talk to this girl, talk to this girl, try to accommodate her to the bottom one, you know, and then I'll I'll rent that one on Airbnb again. And um and they and I guess they said they did, you know, after the fact, whatever the whatever they did, I don't know if they dropped the ball or something like that, because she's not gonna stay, she's just she's gonna leave altogether. Yeah, and the reason is because of the surgery, it's not because you know she's getting you know transferred to another hospital or whatever, this and that. She that's what she said. That was gonna happen. She gave no notice, and then they said, All right, well, if you all they said was, well, if you can't, if you're not gonna stay then this next month, you gotta leave right now. Is it which is even more weird because she was gonna leave like on the 7th, right? And they said, No, well, you're not gonna pay for this month, you gotta leave right now. And so they they she left like today.

SPEAKER_06 1:15:07

My question is was this a traveling nurse?

SPEAKER_04 1:15:10

Yeah, travel nurse. But she's getting surgery on her foot, so she won't be able to walk.

SPEAKER_06 1:15:16

Damn.

SPEAKER_04 1:15:17

And whatever. Anyways, so it's it's uh it's a mess right now, and I don't know. Either way, I think I think the unit's a great unit, and I think it's gonna, it's gonna, it's gonna still do good on on whatever short-term rental platform or long term or whatever.

SPEAKER_06 1:15:33

So you gotta keep that positivity, you know it will, man. It'll bounce back, you know.

SPEAKER_04 1:15:37

But like the like the main the big thing I got out of Mike, you know, listening to Mike G. Well, especially with the managing the managers part, as like he interviews them. I didn't do that. I just said, okay, well, here you go, you know. And now I'm learning this shit as I go. I said, okay, so what if uh what if a long-term deal comes at y'all? What are y'all gonna do? Let me see your lease, let me see how you have it written. And then um, yeah, they'll show it to me, and I'll say, okay, well, maybe well, maybe you should put a deposit just in case they want to try to leave or break the lease. Maybe you should do this, maybe you should do that. Just you know, talk to them before I sign a contract for them to be the you know, my my managers.

SPEAKER_06 1:16:12

That's your expectations.

SPEAKER_04 1:16:14

That's a simple thing, but it's like, wow, that's and that's a huge deal, right there. Yeah, you know, you wouldn't hire an employee at McDonald's without freaking interviewing them first, right? That's real, man.

SPEAKER_06 1:16:26

That's real talk, man. That's real talk.

SPEAKER_04 1:16:29

So, anyways, that's where we're at. And um, yeah, it's a great episode. I love doing this. I love learning and growing, and and every, you know, there's no failures. There's no failures, it's just learning experiences, right?

SPEAKER_06 1:16:41

Yeah, I'm gonna say I'm happy. You know what I'm saying? I'm happy we sometimes learning's a bitch, but I mean you gotta do it. You know what I mean? That that's really you look like, you know, damn, I lost money on this, you know what I mean? But you gotta do it. Um but like you said, you gotta do the interview, and I'm gonna kind of say something off of my from my marriage mastermind from last night I was on. In life, don't skip steps. Straight up, don't skip steps. You know what I'm saying? Make sure you go through life on the proper steps, interviewing people. You know what I'm saying? We can't skip steps out here. When we skip steps, it comes back to bite us, you know.

SPEAKER_04 1:17:19

Every every time, every time. Every time.

SPEAKER_06 1:17:21

So, yeah, you can catch us and live let thrive Instagram, live let thrive. We always post a new good content. You can email us at livelethrive at gmail.com and hit us up on IG. Not only follow us, but you can follow our personal pages, Micah Artist and Stephen Shea Suarez. Um, and they're actually below us both those links. But yeah, um, live and you learn, but don't let it get to you. You already know you're a hustler, you're a host hustler, it's gonna come back to you.

SPEAKER_04 1:17:48

Live and let and thrive. Yeah, and we are out later. Peace.

SPEAKER_00 1:17:56

Thank you for tuning in to this week's episode of Live Let Thrive. Be sure to tune in next week for all the latest in the world of Airbnb and all that entails. Bye-bye.