Apartment Queen Real Estate: Scale From Houses To 236 Units

Hey everybody, this is Toby with Global Integrity Finance, and as you may remember, we interviewed Ms. Kaylee, the Apartment Queen, down at the Quest IRA Expo down in Houston. She talked a little bit about who she is, what she does, and where she really has feigned that title of the Apartment Queen. Well, today we brought her back into the studio. We're going to go into a really deep dive on her success. The challenges, all the do-in, do-outs, all that you've become and how you've gotten there. So we're going to get started. Kaylee, tell us about you real quick.

What exactly do you want to know?

I want to know what has prompted you, number one. I kind of have an oversight of what got you into the apartment world, but let's talk, you know, really, how did you get involved in that? This is such a huge endeavor to go from nothing to something that big. Tell me, how did that really prompt and fire up, and how did you— how have you become successful with that?

So I think a lot of the reason that anybody is successful ever is their mindset.

Okay.

So really, luckily for me, I had worked with a mentor before I even really started getting into residential real estate a couple years ago, but that started that mind shift thing where I just don't care what people think. Like, I literally just get out there.

It's all about you, right? Not what he thinks, what I think, but what you need.

Speak your truth. Yeah, whatever is important to you, live, live your truth, you know. And so having that kind of already figured out really did help when I did decide when I was ready to be done with flipping single-family. That was very quick.

Like, how many single-family deals did you do? One.

That's what I thought.

You said started and stopped. I think it was one and done.

It was hell. Pardon my French, but just, I mean, I didn't think that I had to babysit grown adult men that I was paying, you know. I'm like, I'm paying you, do your job. Overpaying you, you know.

Yes.

Anyway, but there was just a lot of stuff. And now going back, I would have I would've drug tested, I would've done all kinds of stuff, but they're independent contractors. So anyway, but moving into multifamily was not an idea that I ever had in my mind. But I am okay with thinking on a big level, you know what I mean? I know my why, I know I wanna create independence through real estate for people. And the thought process there was, okay, single family's cool, this is hard, like taking a lot of time, and my time is worth more than what I'm spending doing this. And if they were good at their job, then I wouldn't have to do it anyway. How can I do this on a larger scale? Because this is gonna take me probably 10 years to ramp up enough of a company income, and it's also super dependent on the market.

Yes, exactly.

So, you know, meh, I didn't wanna ride the wave either. So I was like, there's gotta be a better solution. I didn't know the solution, but I ran into Will Crozier actually at a Propelio event. And so he was a speaker, like last speaker of the night, and that was the guy that I was actually out with his Lamborghini on Tuesday racing the BMW i8. That I rented and had a blast. But he was very quiet and humble, but genuine. I just really liked what he had to say. And he was super uncomfortable that night speaking in front of people because he kinda just minds his own business. You know what I mean? He's not out there—

Kinda behind the shadows.

Guruing people or anything like that. But I mean, he did a great job and just kinda talked about his transition and how he was able to build wealth so quickly. And I was like, that is me right there in 5 years. I think his tagline was like, $750 million assets under management in 8 years or something like that. And I was like, yeah, like, didn't quite know what that meant at the time. But I was like, that's a lot of money.

It sounded good.

Yeah. So as I dig into it, it means different things now. But regardless, you know, I got to meet him.

It was enough to make you hungry, right? Yep.

To go, ding, that's it, you know?

Okay.

And so in real estate, there's so many different ways that you can invest, you know, notes, I have notes in houses that I invest in myself. Flipping houses, wholesaling, sub-2s. Yeah, yeah, I just started. I just bought one this week with my IRA.

Really?

Yeah, yeah. So Kristen Gerst, I did one of her partials. So nice. It's cash flowing month one. I'm excited.

That's what it's all about.

But you know, kind of expanding your mind and seeing that person that was the ding, like, there's so many ways in real estate to invest. But this was like flipping houses just on a larger scale.

Correct.

So it's like that.

Doing multiple doors at once.

Yeah. In economies of scale.

Yes.

You know, obviously he simplified it for us dummies, you know, that are just learning, which was great, but got me interested. So I got to talk to him, and I really like just meeting people.

Okay.

And not necessarily having to be in a program or follow a leader. I just want to figure out how I can provide value to someone, and then in return, hopefully be able just to like listen to what they're doing day to day and kind of figure out their patterns and what works and doesn't, you know? So I asked him if I could take him and his wife out to dinner and he's like, "Sure." So it was a quick dinner. He was like, "So—" Drive through McDonald's. No, no, no, no, we met up, you know, and he was like, "So, I'm moving to the Philippines." Oh, wow. And I'm going completely passive and I no longer actively look for deals, buy and sell, flip, order supplies.

He'd built up his nest egg and now he was living off that.

And then also, he was smart too because he vertically integrated a couple businesses into the apartment business. They had a supply company as well. Okay. And then his partner bought him out of that business and then kind of they did their own thing after a few deals. Gotcha. Separated companies. He wanted to do more venture capital type stuff. You know, he's got like an angel foundation for kids with cleft palate in the Philippines. Nice, nice. His wife owns a dental laboratory that services that. Owns a couple orphanages there as well. Wow. So that's really what his passion and his why is.

So he built all this up to go do what he really, his real passion was.

Right, and what's cool too is that as a business owner, not only, he just gets it. He's so smart. It's not like I make my nest egg and I live off of it. No, no, it never stops. Like, these charities are businesses. And so, okay, we have a dental business, but we use income from it to give back, right? And then we're able to order supplies at cost, and you know what I mean? Like, so all these different companies make money consistently but also give a better purpose. If you can combine your why in your business, like, I think that's just the ultimate. So I really like his That is awesome.

That is awesome. It's like, I want to be you, you know? So after meeting with him, going through the dinner, what was your next step?

He said, okay, I'm going to give you a couple gold nuggets. Here's a couple good books. Talk to Alex Clark. Okay, he goes, this guy, he's done 5 deals, I think, total at that time. We've done a couple together, 2 or 3 together, and he's rapidly growing and he's a spectacular person, you know. So he's actively in it, you may want to talk to him. So, um, I was like, okay, cool.

And Alex is local?

Yeah, Mansfield. Okay. He did an intro, warm intro for me via email, and will also help me warm intro me to all the big brokers that he trusts, that he had done business with. And because he bought so much, that really just helped me. Absolutely. Something gave him some credibility. Yeah. And street cred. Yeah, literally. Um, that was cool of him. But, you know, passed me on to Alex, and Alex has been the older brother I've never had. Okay. So I didn't, like I said, want to be in those programs or anything. I just wanted to meet people that are already doing what I wanted to do, right? And then figure out, okay, can I like show up to your property and like pick up dog poop? Like, do you want me to order supplies for you? You know, I used to have an assistant. Just have that apprenticeship. Do you want me to, you know, make sure bills are paid on time? Like, what, whatever, you know. And he was actually just so nice that he let me come on property and Hey, this is the materials that we order right here. Here's how we order them. Here's, you know, when people move out, our timing on when we install, all that stuff. So I got to go see what kinds of supplies and what, you know, over-upgrading the unit looked like and what, you know, the right upgrade for C-Class and, you know, just being around, seeing the front office, meeting the front office people, what's important to that type of role or a job. Her, her, yeah, what she does and wanting to feel safe and secure with cameras and, you know, a lot of different things. So he was just Awesome. And then he's like the person that I got lucky. I mean, he is such an awesome person. He's like, hey, I need bail money. Like, like that kind of like, he has my back. I'm not kidding. Like, I went into a situation where I had a big fat earnest deposit I need to put down on an apartment. And I was doing this deal and I had a couple of closings of houses and I kind of, you know, put what, my horse before the cart? Yeah, cart before the horse. Yeah. And So I was like, okay, we're going to do this apartment. And I'm always okay with doing deals where you get it under contract, you get it rolling, and then you kind of figure it out. But this was like, these checks weren't in my bank. They weren't there yet. Yeah. And the, hey, earnest money is due like tomorrow.

And I'm like, ah, if the domino falls, there's a multitude.

And I don't want to be that person that can't close or can't do something. And I, anyway, he had my back. Nice. I mean, he was just like, so he floated you.

Here's the money. Yeah, floated you until the things came in.

He set up a loan, like interest rate, it's like, no, it's fine. Nice. And just pay me back. And it deposited within like 4 days, and so I paid him back plus interest. But my family wouldn't do that for me, right? So I was blown away.

Well, and that's what we— you, as you grow, you're going to have those same students come to you. Yes. And you're going to know, hey, somebody stepped up for me. And because of that, I can now do this for somebody else.

I got the best Instagram message this morning. I forgot the guy's name, but he's in high school. He's been watching my stuff and he's like, I really like what you're doing. I want to get involved now. And I'm like, I'm really proud of you for starting now because I tried to tell my sisters, oh, you're going to college. Hey, I'll pay for your license and then you can make money selling a few houses a year and not ever have a tuition bill that you can't pay. Or because they weren't My parents have kind of been MIA, so they're not going to cover it. And they don't all have— I have 4 siblings— they don't all have scholarships and stuff. Right. Just to kind of—

Now they're acquiring debt without any kind of resource.

And so he's like the perfect person because I guarantee you I know what he's going to help me with. He's probably super tech savvy. Right. He's probably, you know, up on the latest.

He's a millennial, man. Yes. He's there.

I am too, but like there's a different level. It even goes beyond that.

Deeper the younger they are.

Yeah, so any kind of help that somebody could give us, like 5 hours, 10 hours a week or something like that, in exchange for, hey, get in the car with me, come out to my properties like Alex did. Yeah, all day.

See, that's what's so important with everything that we do. If we don't recognize how we got our starts— and this is why it's so important to have you here today— recognizing how you got your start, how we got our start, and not paying that forward is a disservice to our society and to our industry. So I appreciate that story, and I look forward to a year from now, 2 years, 5 years, 10 years, hearing other people come in and say, "Kaylee helped me. This is what she did. This is what I do." That's what I use. That's what's important. That gets me excited. That's the legacy that we all live and strive for. So we've got the first deal under contract, and what took place?

Did the roof fall in? Uh, no. Well, kind of.

Most of the time the first deal is a disaster.

No, it wasn't. I still have them now. They're cash flowing like crazy. They've gone up probably like each one, $2,000 to $3,000 a month since we bought them in May. I mean, it took a while to close because there were some hiccups and stuff.

Now, did you do a fix and flip on this or did you just buy it stabilized?

Neither, it's kind of a hybrid. So it's a value-add structure.

So explain that to me.

So I buy stuff that's, or properties, sorry, that are B, C class. You know, there's something where there's some meat on the bone, meaning, you know, you go into units, I like it when there's shag carpet, I like it when there's all white, you know, laminate countertops, I like it when it's not crappy. Yeah, it's livable. It's not falling apart like a D-class. I don't do those. Exhausting. They can be huge cash cows. But I just, I want to grow fast. And that will just stagnate growth, I think right now, unless I had a team that specifically, say, for example, I did single-family flips and you know, you had an acquisitions person, disposition, someone that monitored the general contract, you know, the whole system built out, maybe then I would approach that multifamily, but I don't. So I was like, now what I can handle is doing something that just kind of needs lipstick, you know, it's got a solid roof, solid foundation, good bones, you know what I mean? So we don't have to fix any of that stuff.

Good electrical, good plumbing, good AC, HVAC systems, all that. So the meat and potatoes is good.

We just got to dress it up. Literally, that's it.

So when you purchase that, you're, you're only looking for purchase money on that. You're not looking for any upgrade monies with that when you say a hybrid.

What do you mean, like as far as the loan?

Right. So when you go, yeah, when you go get the financing on that, you're only looking for purchase money financing.

We do A&D, like acquisition and development. Okay. And that's another important thing. A lot of the times, the reason other people's projects fail, and you'll go run by stuff and see boarded up windows or whatever, it's because they didn't do that. They didn't budget appropriately for the capex or capital expenditures that need to be ready to go. You know, you need to have an account funded. You know, you have your oh shit money. You know, you have your— anyway, but having something that's like this, you have your ability to renovate and there's already a plan. Like before we even buy it, you know, we know exactly.

So you know what your acquisition price is and And then you've got your X factor of upgrades.

Yeah, so once I think it's a good enough deal, I bring my construction crew with me. They go, okay guys, here's my vision. Here's what I want to do for the clubhouse. Here's what I want to do for the balconies. Here's— Swimming pool. Nah. I hate those. I mean, because really they just cost money. Like, it's not something I can make money from.

Do you look for apartment complexes without swimming pools?

Oh, I don't care. Either way. In Texas? I don't care. Really? If it has one, cool. If it doesn't, cool. I don't really care. But I'm just saying, that's not an improving part. That's not something I want to spend money on. If I have to, sure. But yeah, um, but things that you can make money on, so you increase your income and decrease expenses. That's how we're able to make so much money off these complexes. Great idea. So even my contractors, like, they're so— in multifamily, they're so, um, educated or sophisticated or whatever that a lot of the times, like, my guy Dax Ferguson with Heritage or David Gallardo with Dallas Connections. I'll consult with them. What changes can we make to the exteriors and interiors to get the most money, but most bang for our buck? Like, you know, can we strike the parking lot, do $10 for the upfront parking? Can we add in balconies and charge $10 more a month for privacy for everybody? Can we do carports? Can we do a playset? Can we do grills? We did that on two of our properties recently. Recently, and the residents like that a lot.

So grills like out in the common area, so everybody can use them.

Yeah. So like grill in a pergola, so there's some shade, and then it's like a nice bar counter.

You got the little playground for the kids while you're cooking out and all that stuff.

Yeah, that stuff is what I consult with them. And like Dax brought up a great thing recently where we could rewire our internet if we wanted to become a, not a dealer, but essentially be like the company that does it. So kind of like a Not a dealer, I don't know the word, but be the provider. Distributor? Kind of, but we wouldn't be doing it for more than just our property. Just your own.

But you become the distributor and then you do it yourself to get the discounted cost.

Well, the company does it for you. They give you two options. This was one where you can have everything wired by the company and then you pay like $20,000 or something like that. And then it gives you an income back to you of like $45 per unit per month. So, You multiply a 200-unit complex by $45 per month times 12, and then divide that by the cap rate or the capitalization rate, and that's the increase in value. Boom, right there. So we did a— and the company will give you that projection, right? Like, they'll come out for free and then give you that report. This is what you can add to the value of the complex by doing this.

I've heard people doing that with AMBIT. Taking on, becoming an AMBIT consultant.

I did that with ACN.

And then taking on, and the utilities now are all under that account, so I'm getting that residual off of that for every unit. Yep. That's awesome.

We do that. That's awesome. Every complex. Good. And then there's just so many different things that a useful contractor is going to be someone that thinks about the overall goals of the team. Because he, I mean, I freaking love Dax. Like he's, I want him for life. You know what I mean? Like, I'll call him crying about stuff. Like, you know what I mean? Like you have that good relationship. And they, I mean, he is, he's called like a jerk seller for me before, not seller, but the broker, you know, when they were jerking me around and wouldn't answer my calls. Oh, I'll call them as an uninvolved third party because I've already done business with that person before and just ask them some other questions but get some intel on what the issue is and tell you. And so I'm like, oh, you rock, you know. Right. Yeah.

So that helps out tremendously, having that inside track.

But so value-add, you know, we're looking for ways to improve the interior and exterior to get the most— most— because like, I'm not a slumlord. I'm not gonna sit there and buy something and I can't just increase the rents just because. Just because. Yeah, I need to give the residents something to justify the price increase. And then, you know, it increases the value of the complex too. Correct. So yeah, so good meat on the bone, something where, for example, it's really hard to find these days, but like a true value add. Everything in marketing now says value add, value add. It's like two doors left to flip. It's like, no, like that's not about. If you can find a complex that's 10 to 15 below market rent on all floor plans across the board. Not just the 1x1s or not just 3x3s. All of them. That's ding awesome. And then the other thing is again, if you go in the units and most of them, I would say you could get 70, 65 to 90% left of the units to flip. So meaning they're not upgraded, they're classic units. Right. That like those two things together, like they have pretty much just landed on a Yeah.

Just a few of them.

I want people like older retired people that just, they've been just living off the cash flow and they're happy with it.

They don't want to do any work.

And they're ready to get out. Well, not necessarily, but they just didn't want to put in the work. Yeah. I'm like, I do. You know, I really want to upgrade the place and make it nice. So.

Well, that was going to be my next question when you said that, you know, you find that most of these units haven't been upgraded or they're below, you said 10% below below rental.

10 to 15% below market rent. Market rent. Why would that be?

Because somebody hasn't taken the time to upgrade and they know this is all I can get for this unit as it is. I don't want to put the time and energy into it, so I'm good just living off this cash flow. Yeah, a lot of mom-and-pop owners.

Like some, we just did a 236-unit in Phoenix and they were living in it.

They were forever. They had their little 3-2.

Yeah, they lived there and that was their lifestyle. Job was to manage the complex. They didn't do third-party. So they don't run it like a business. They don't sit there and have the, you know, CFO that goes, okay, here's where we're spending money that's a waste, here's where we're not, you know, best return on what money you're spending, you know, running like a business. So then we have the opportunity then to go, ooh. Now, when—

now I think when we talked down in Houston, we talked about you have separate teams for each complex. Do these teams When you put them in play, do they handle the property as a property management firm? Or do you outsource that also?

Right now I outsource that.

So you have a firm that does the collection, bill pays, all that?

Yeah. The evictions. Yeah.

Fires, like— So turnkey service. Yeah.

I mean, I do have to— my job is to manage the managers. Right. So when we sit down for our initial meeting after takeover, I've I read too much. You know, I have a pro forma that's like, alright everybody, so month 1, here's— usually month 1 you don't do a whole lot, you're just trying to onboard everybody, and then month 2, construction, we're doing this, marketing, we're doing this, front office, or management company, we're doing this. And then I have to come back every— right now I come back every 3 weeks or a month or so, and just kind of, alright, where are we at with this? And now that I have like an operations guy internally, we're working on building all these Slack channels. And so each channel now is like each asset has its own channel and has all the team members inside the channel so we can all see how the progress of every project is going.

And are those channels assigned to one unit or to a multitude or just based upon?

The channels inside Slack are assigned to who's on that team. So for example, the Phoenix deal, Juan, Yoshi, myself, and Jack are in that channel. And then they're going to have to add our property manager in there so we can kind of all— it just, it saves on phone calls. It saves on emails back and forth. Everybody can just look and it's all right there. Keywords, I like. Gotcha. So I'm like, that's so exciting to me because I'm like, yes, more efficient. It sounds very efficient. Sounds very efficient.

So in that infrastructure, now this is something that has been evolving. Yes. As you're growing, you're building in more infrastructure, more channels, all that stuff. Where do you get that insight for development? Is this from your mentors, through the coaching, or through books? Tell me. Books. Books?

Yeah. Actually, I got to a point where as a business owner, period, whether it was my brokerage, whether it was apartments, where— and I knew it was coming with apartments, and I kind of proactively saw it, and now I'm kind of stuck. Right. But luckily I did some research. So my girlfriend that owns, she's the short sale queen, Nicole Espinosa. Yeah. So I reached out to her because she had made a long post about, you know, a year ago I was so stressed out and handling everything myself. I could never go on vacation, spend time with my kids. Yeah, so, so reached out to her. I was like, well, what tools did you use or read? And she, you know, said obviously you understand the CRM, you know, you understand having multiple team members, but there's also like your job as the visionary CEO is to basically have the culture in mind, have the vision, have the mission, all of our ethics as a team or company very clear, reinforced to everybody. Everybody has their roles. Here's what a key performance indicator is. I had no idea like about all these ways to basically make people accountable for things and how to kind of evolve. Anyway, a system. So she recommended reading Scaling Up. Yeah. I don't know who it's by, but it's which is like a Gazelle's company. I mean, I've been listening to that while I'm doing my morning walks and stuff, and I'm like, dang, and I'll stop and like make notes, you know, and then use it later. I definitely do have a running note list and I action those items.

You would love the EOS system. Yeah. It's with the Scaling Up program. Yeah. That should be your next move, my opinion. EOS is Entrepreneurs Operating Systems. Okay. It's amazing. And it gives you day in, day out strategies, accountability, putting the right people in the right seats, all that stuff. A big chart. You'll love it. I have a book I'll lend to you.

Awesome. So far it's been like awesome, you know. I also integrate Culture Index. I use that on every person and it really helped me when I did like an Indeed posting for the Realtors, an Indeed posting for a live-in assistant. You know, that was a scary role to fill. I hadn't really picky. Yes. And I found somebody that is like a mini me, younger, about 10 years younger. And so she's got— she's in a good phase to like start working on herself, which is great, you know, and be able to evolve and culture and develop.

Yeah. Yeah. So it's removing bad habits.

Pretty awesome that that Culture Index test I really use. Now, one thing I thought about last night, because I had dinner with my friend who owns a public company, and so I always kind of bounce stuff off of him, and that, he goes, are you doing drug tests? I was like, no!

It was something I was like, crap! It's the hardest thing. Yeah. It should be done, it's one of the hardest things, you know, that I face. Sometimes you don't want to know. Sometimes you don't want to know, but yet you're setting yourself up to fail if you don't.

And certain things I'm like flexible on, certain things I'm not. Like there's certain habit-forming things that are going to affect the day-to-day work ethic and habits and and stuff, and I, you know, we can't do that. Correct. So I'm now going, hmm, okay, well I guess I'll go set that up with Quest Lab or whatever.

Yeah, yeah. So we've gotten into, you've bought a property, you've bought several now since we last talked, you've got your infrastructure going on. Tell me about some hard road, school of hard knocks situations.

Well, I said one earlier, kind of, you know, don't put the cart before the horse is as far as like money goes.

So you committed to funding some stuff or paying some money while waiting on money to come in to cover those checks.

And you know, it did, but yeah, you never know what checks are in your account.

And you never, like you said, you never want to be that person.

Because it would have ruined my— I was, that's why I was like crying because I was like, I'm about to ruin my reputation in multi-family. Right off the bat, my first deal. First deal. Right. And I'm like, crap, like I can't. So, you know, One thing my mentor did say at the time, Alex, you know, he was like, will you do whatever it takes to close this? Right. And I was like, yep, like take a HELOC out of my house or do something with my car or whatever, you know, I was willing to. So I would have figured it out, but, um, and I have a hard time asking for help. So I remember telling him I was really frustrated, not telling him why, and he's like, what's up? Like, right, just call me and ask for help. And so then I, I did, and he's like, I got it, not a problem.

Just ask. You know, that's amazing that you say that because here's— I'll reverse that. If somebody came to you, somebody was struggling, a mentor, or you were mentoring somebody and they didn't ask for help from you, you'd be disappointed. And yet, but it's so hard for us to go ask for help. And, and, and I, you know, being an owner of company for 20-some years, one of the things that I beg my officers to do is ask for referrals. Yes. Ask for referrals, ask for referrals, and they won't do it. If you don't ask, it's always no. It's always no. But yet you turn that rule around and say, you know, if somebody came to you and said, hey, would you recommend this, or would you recommend that, would you hesitate in answering? Like, no, heck no. And in fact, you know, if we go to a restaurant, we love it, we tell. I said, then why is it so hard? If it's easy for you to give out, why is it so hard to ask? And that's just our nature.

I was brought up that way.

Yeah, and 90% of us are, is we're too proud or we're too embarrassed. Either or. And so one of the things that I try to teach, and I know you will too, is that the only way to ensure success is to swallow our pride and learn and grow. And as we teach that, we'll see more and more success come through our downlines.

I don't really have a whole lot of pride, if you will. I think people that do, they're such a turn-off to me. But as far as being embarrassed, embarrassed for sure.

And it's either or. It's either I'm too proud or I'm embarrassed in my pride. Feeling inadequate. Yes, I feel like I failed already. I have to come to you, I've already failed. And it's not always the truth. It's our own perception. It's not reality. You just don't know what you don't know.

It's not a big deal.

You don't know what you don't know. And that's the only way to learn. The only The only way to grow is to fail. Make mistakes. You make mistakes, you learn, you grow. And if you're not making mistakes, you're definitely not growing. Yeah.

One of my other newer, I guess not mentors, but friend that ends up kind of giving me good advice because he's been in commercial real estate for like 45 years. So he's like, quit reading your damn books and just call me. Like I've done every kind of deal, every kind of way, creative finance.

Let me get you to the end of the chapter right now. He's like, just call.

I'm like, okay. And again, I had to get over that. Like, oh, am I bothering this person? But I just try to be conscientious. Am I imposing on them? Maybe doing an email once a week or something, not blowing them up via text or calling or because they're busy too. But I think if you're conscientious of the person you're asking for time, it's not a big deal.

I agree. I agree. And I hope that anybody that's learning, that's getting into this industry and they do have a mentor or a coach, that number one, they do ask the questions, but number two, they do respect that person's time. I think one of the things that happens a lot is so somebody may ask you a question, you don't get back to them in their timely manner. There's a frustration there. Now they don't care. Now they're not answering me. But there's that, you know what, we will always get back. It's just, you know, a matter of when I'm available. Able to answer that deal, right?

I have that in my, like, one of my favorite books that Will, the guy I originally met in multifamily, that he recommended was 4-Hour Workweek by Tim Ferriss. Yeah, so he literally lives that book. Like, everything is so funneled down to where he's not a bottleneck stopping any process from happening. It's all set up, right? So it runs itself. But, um, yeah, like, in that, in that book, it talks about setting up your expectations for people so that they know how communicate with you, you have to train them. But it makes people mad sometimes because they want you available all the time.

All the time, right then and there.

It's not possible. Like, I can't service a million people this week, you know. So my voicemail and my email auto-forwarding message both say the same thing, that basically, hey, in order to be more efficient, to be able to respond back to you in a timely manner, if you would, I check my email at noon and 4 o'clock every day Central Standard Time. And I will get back to you. Same thing with my voicemails, check it at that same time. And if it's an emergency, text me at this number. Right. You know, so that's how I've kind of set it up, you know, for people. And honestly, tell you the truth, the people that don't listen, I delete. Right. Don't talk to them. Don't respect them. Yeah. And I've had people try to give me a hard time about it too. Like, don't give me the cold shoulder, Kaylee, blah blah blah. And I go, you know what, if you won't help me, I can't help you. I can't help you. Right.

Well, if you can't respect my boundaries, then we can't work together. And that's what it is. It's setting those boundaries, those expectations that says, look, I've got a resume of people that I'm going to help and I've got my own life. Respect what I've set in place and we can work together. We have it with our clients, you know, our brokers, you know, they every— and you're going to— you have the same world, but every problem they have is a life-changing catastrophic event. And I'm like, really? This had to be dealt with right now?

Like in the voicemail and stuff, my thing, it says an emergency. I mean, a true emergency. 911.

Yeah, yeah, yeah. I had a broker the other morning. He came in and met with us and he said, when can I, you know, when can I get a hold of you? I said, the best time to get a hold of me is between 7:30 and 8:30. Yeah. I'm usually in the office before 8:00, so, you know, 8:00 to 8:30, good time to call. After 8:30, I'm in sales meetings and then the day started. No kidding, the very next day he calls 8:11, 8:12, 8:13. Kid you not. And I just, I finally sent that to Rochelle and said, when you get a moment, call this guy, because if I call him, it's not going to be favorable. But there's no need for that. For that. Yeah, there's no need for that. That happens. Yeah. And the other thing that I can't stand is when somebody calls and they don't leave a message, and then they call and they don't leave a message. If it's not important enough for you to leave a message, it's definitely not important enough for me to return that call.

Right.

I believe the same thing. Digging deeper into you, now that we've got all that aired out about respect your mentors, respect your coaches. Yeah. Um, you know, Treat us like you want us to treat you. Treat us how you want to be treated. Right. And then because eventually you're going to be that coach, that mentor, that leader, and you're going to want people doing the same thing. It's all paying it forward. Tell me, so you had the one pitfall of earnest money. What else? I know you've had some other learning curves.

I mean, all the time. School of hard knocks. But it's not that bad. Like, there, I mean, there's always somebody new.

What can they— what somebody that's trying to get into your world, what would you say, don't do this, you may look the right way or may seem to be easy, but you're going to set yourself up for failure? What would be one of those things?

Um, well, this is a discussion we had last night about me trying to— I always try to learn before it happens because I'm all about prevention. Yeah. So honestly, like, I've pretty— like you're saying stuff like, you know, if you're not failing, like there's a problem.

Make mistakes, you're not growing.

Really? I mean, I'm sure there's some little mistakes and stuff, but nothing that's catastrophic, right? No one's gonna die.

Catastrophic would put you out of business, but there's other things.

Because I tell the truth and I do the right thing and treat other people how I want to be treated. So, and I also have no fear of like lawsuits or anything because I know that the way that lawsuits— you get sued is by the intent of what you're doing. And so I always know if I'm doing the I do the right thing and I have the right intent, like, I don't care. Sue me, fine, whatever. You'll find nothing.

It's not— yeah, you're not going to get anywhere with it.

So, so far, just doing the right things, like treating people how you want to be treated and being openly communicative and trying to, you know, talk to people about frustrations I have and kind of get it out there first. My fear now that we're growing is I've been scared to do a fund. So I'm looking at partnering with some people, or was doing a fund. They already had one set up and trying to learn about, you know, how that's set up, who's liable, if the properties are actually physically in this thing, or just trying to understand all the stuff. And I did trust the people because I'd already done a deal with them, right? But the structure of a fund is so like, I would need to start the fund. I would need to be like seeing what's in it and make sure everybody's accredited, make sure all this other stuff. And so it's scary, but I'm learning more about it, so becoming more comfortable. And now, you know, you have so many different funding sources that want to put their money into your funds. So me and this gentleman last night were talking about like mob money, you know. I was like, have you ever gotten mob money? Have you ever dealt with like dirty money, you know? And how do you find out about it? I love hanging out with people that are older than me because they've lived another life I haven't yet. He goes, okay, so if the deal— like this This is just, like I said, proactive. Right. If it's too easy, if it's a lot of money, if it's like, you know—

Or any kind of qualifications.

It's like we were selling cars in Miami at one point and we had dudes rolling up with bags of cash that don't look like they should be having those size of bags of cash. Don't take their money. You know what I mean? Just certain warning signs to be careful of. I really don't want to— I'm trying to be careful. You know, my biggest fear, which I hate that a fear is kind of motivating some of my decisions. I don't want to operate, you know, out of fear, own a business out of fear, or whatever. Right. And restrict yourself. But at the same time, you know, I just, I don't want to get to a level of growth and then there's someone I screwed over or something that I just really didn't check out or whatever, and they come back and knock me out of my knees and I lose everything that I built. It may happen. And again, when it has happened to other people, they just rebuild. They know the system. Right. They know the way to do it. But I just don't want it to be something where somehow the intent was proven that I was trying to screw people or whatever. Even though it wasn't my intent. But if someone else was that's part of my team, you know, you're still held accountable.

Yeah. So when you take over a property, do you do surveys with the tenants to find out what the tenants would like to see improved?

Is this part of your protocol? So there's several different books I've read that, you know, by like Joe Fairless, by— I'm trying to remember the other guy's name— Tim Bratz, but like all these guys that do this a lot, you know, and each book has their section of due diligence. And so they all kind of do it a little bit differently. And so I've taken notes of what I like and then taken it and made it, you know, living Customize it for you. Yeah. So they all time, they do surveys, but they time it at different times. So what I have found is reasonable, some do it during due diligence, but really there's so much going on in due diligence. Like you're trying to get a market survey of other properties around you, what they're doing to upgrade, what they're charging per month, what realistically, you know, what's the potential of this place is.

Yeah.

What's their downfalls? What's their bad debt? What kind of tenants, tenant mix to watch out for because that's in that community, whatever. So that's a really appropriate part of before you buy it. You want to know that stuff. Am I buying it right? But as far as what we do with the tenants, so I know with my contractors what we're going to, what our plan is to put in place to boost our NOI or net operating income and decrease expenses by our capital expenditure budget. What's our plan, right? But what I've done is once we take over, then I have the property manager do a survey of all the tenants because in that process of taking over, people leave, come, and— Right. Different, whatever, you know, and you may not even end up buying it because you're still in due diligence. And so really once you're done, then we have the property managers do a market survey again, and then they do a tenant survey. Our maintenance guys also do a tenant survey. Real simple. Like 2 questions after they do anything for someone. If the person is home, they're like, how was my service today? What would you improve about the complex? Like something like that, really easy. And then we haven't done it yet on our big, big property. This is the first big one we've done, the 236 units. That one's gonna be one where we're probably gonna do like an online survey, something easy that like, you know, we'll give you a dollar off rent or I was gonna say, because most of the time people don't do surveys.

I get them all the all the time, delete. So what— that was my next question. How do you entice them to do the survey so that you get good solid feedback?

Yeah, we haven't figured that out yet.

But when you figure that out, let me know.

Yeah, I mean, it's probably easy. Like, what, what is— what does the tenant want? You want to pay less rent, they want to—

faster internet, better laundry facilities, whatever.

One free laundry or something, you know, whatever. Um, not that much, but I'm just, you know, The whole complex is running off of one coupon. But really what I've done so far that's quick and easy, it's not easy, but quick way to do it is that whenever we take over and things are kind of, we're starting to renovate and make changes in the property, people notice. Like they see it's improving and they like that. And so then I'll invite everybody to an event. So I just did a grill out at Lantana at Quail Run. So we just put a new grill, so we wanted to test them out. So we did hamburgers, hot dogs, salad, desserts, stuff like that. And the kids and the tenants came, and so I just asked them straight up, like, to their face. I was like, what— I had an idea to put storage units here. Would you guys use them? Would you pay for them? No, we would actually rather have carports. We'd pay for those, or whatever, just to get feedback. So we do have this capex budget based on what we wanted to put in, and if we need to maneuver that another way, that's reallocated. Yeah, but again, I listen to their feedback, plus, you know, once again, the best bang for our buck too. Right. So yeah, I'd say—

You would probably get more bang for the buck on a carport than you would a storage unit, right?

It depends on how big the storage units are. And it depends, like for example, there's one storage unit, lays it down, and it's full. Yeah. So—

But if you don't have the land there on the property— We do. Oh, you do? Yeah.

You have to get built for that. Yeah, like what our plan was is like, you know, um, 18-wheelers, the, uh, containers, the storage containers, miniature container. I forget the sizes of them, but the smaller one, about 9 by 53. What we've been able to do, or what David's been able to do, and he came up with the idea. I was like, genius, man, cuz they did that on the property before. It was like, it cost $17K or so to put in, um, 8 of these, and they're 3 doors apiece. So there's 3, like, you know, the back end of a container, the unlock things, there's like a miniature one of those for your own storage unit. It's not AC'd. It's just for storage. So they spent $17K on that, and then based on filling them all up slowly over time, the first 6 months or whatever, based on the compressed 8 cap rate that the complex had, that was another $125,000 of value right there that added to sale price. Nice. You know, and all you did was spend $17K. Right. So it totally makes sense. But on the the property we were thinking, there's a separate lot that we could do it in. Adjacent. But most of them have an alley behind them or have some green space or somewhere to put it. That you could put them. Yeah, mostly, not always. Again, it's going to change as I am in the city and stuff is like, you know, there's no room. But usually there's some kind of area like the clubhouse area. There's some kind of property involved with your complex. So, but yeah, I asked them in person, what would you guys pay for? You know, and those are the people that are the most actively involved. Those are the ones that want to pay more money to be in the nicer units. They're asking me, hey, how much? I'm like, I don't know, Caitlin does that. She's the money girl. I'm not, you know, I'm just a regional. I don't even call myself the owner. I don't want them to know. I just am like, I'm just a regional with Class A Management, is our management company. And to get good feedback, and that way no one's like afraid afraid. Right. Because people sometimes—

and they're not blowing you up with complaints. Yeah.

Some people are like afraid. We, we have been through a transition where we're changing property managers, and the first one wasn't quite as friendly when it came to, hey, I need repairs. Or part of it was the system. We now have a phone line that they 24/7 will pick up maintenance requests, and then they are trained to funnel it down to what's an emergency. Then the emergency thing goes right to the maintenance the other stuff we put it on a schedule. Put it into a schedule. Yeah, otherwise, I mean, the maintenance guy would be like, "I'm charged for this and this and this." Right, right. So, but that was, so it was frustrating the first apartment manager because we didn't have a system, but she was new and didn't know that those systems were out there. And it's kind of the property manager's job to help guide us as operators. Right. I'm newer, I don't know everything.

Right.

But they do, you know? They go through extensive training. Right. I actually took a property management course myself recently. For my continuing ed for my brokerage. They make you take classes and so I was like, well, there's one on property management, why not? Right. So that was good. But anyway, so basically, what was the point? Surveying your tenants. Yeah, so we do.

And through that, what is the most common thing that you're hearing or have heard that they would like to see improved? Is there one thing? Is there multiple things? What's the most common?

I've been surprised, to tell you the truth, when I asked them those questions that time, they said the carport thing. I was actually surprised, but it made sense because these were in West Texas and there's crazy hail out there.

Crazy heat. Yeah. I can't stand climbing in a car if it's been sitting in the heat all day.

You're like, "Ah, my baby!" Yeah, it's hot. I'm telling you. I'm surprised that, I'm trying to not say, I'm surprised that they were asking about paying more money for the renovated units. I was afraid, not afraid.

They were willing to pay more for an upgraded unit.

People are. But we had just started the process. We literally did one unit. Because what was cool was the first few vacancies we had as we're changing the tenant mix, increasing the monthly rent, we had a personally had a vacancy and someone came in like overnight and they said, hey, I'll rent that unit like tomorrow. Like, no, no, no, we need a month to like do the upgrades. And he's, no, I need to move in tomorrow. Well, are you okay with paying the, you know, new price? Yes, I'll move in tomorrow. Okay, so we didn't even need to spend the budget on that unit. So it kind of took a while to start having a unit to flip. So we finally had one What was that, 2, 3 weeks ago I did that barbecue, something like that. And the residents that live directly across or upstairs, they're seeing what's going on. And so then they're like, can we have one of those? I'm like, yeah, it's gonna be more money.

But the upgrade were appliances, countertops, carpet, what, everything?

In Quail Run is the property's name right now. We're renaming it, but right now it is countertops. So resurface resurfacing the countertops, resurfacing countertops in the bathroom, painting all the cabinets. Uh, what else are we doing in there? I have pictures if you want to see. It's pretty cute. Uh, new backsplash. We can put those up. Yeah, and with the backsplash, um, that's actually not necessary if you're doing a big property and, you know, you're doing all the other things. Um, but David was able to get it pretty cheap, so it wasn't really— he kept us below our budget that we had budgeted for each unit, and he just a standard. This is what it will cost per unit. Okay, cool. Nothing changes, same materials, same thing, right? Right. Uh, so what else do we do? The countertops. We didn't change out the appliances yet. Uh, what our plan is, is some of the units have all white, totally fine, they're clean. Some of them have, for example, black upgrade is the upgraded appliance. Okay, so we have a unit, for example, like you'll see when I show you the photos that the dishwasher is black because they had to replace it. Right. I don't know why they didn't change, like, keep with the color scheme, but whatever, you know. So when the fridge goes out, it'll be black. When, you know, yeah. So for now though, it's not— as long as the stuff is working, yes, it's not the most aesthetic thing, but I don't know, it's in West Texas and they don't really care that much about that. And what's cool too is David was like, oh, we can get new appliances for like $45, $60 or something. That was used. So he's like, for example, I have an owner that's flipping units and he doesn't know what to do with all these. We can pay him $40 and he'll make some money and we will save like so much money and not buying full new ones, but they work just fine. So I was like, genius, you know.

Do those— so are you able like with a house, so like when we flip a house, we put a home warranty on them to protect for appliances, HVAC, and all that stuff. Does that work the same way with the apartment? No. So you can't get a warranty on those appliances. I mean, I could, but they're cheap.

No big deal. I don't care.

Keep them, keep them in the store.

Our budget for them is like, you know, $200 a piece or something, and we're buying it at $45.

So you can replace 5 of them, whatever.

And then depending on what kind of loan we get, all this stuff, uh, the bank will require like a reserve account per unit, like $350 per unit's normal. Uh, we also do, like I said, like the Oh Shit account. So we rate I overraise for every deal, just like a little bit, and I keep that in this slush account for stuff like that. Perfect. And then, yeah, David's great. He finds us deals, and there's people hitting me up in email all the time. Hey, I got a warehouse full. I'm like, great, here's David. Like, you guys hook up.

Yeah, perfect, perfect.

Yeah, so countertops, resurfacing bathroom, the tub and the shower, the whole deal, resurfacing that, painting the cabinets. We put a new mirror in the bathroom because it was just kind of Yeah, new paint. So two-tone paint, which really makes the unit pop and seem bigger. So right now the scheme is gray and white. Yeah, so it's like a light— it's clean. Yeah, it's a light gray wall and then a white ceiling. And then what else did we do? We repainted all of the closet doors. Yeah, because they were like this old looking wood, now they're white. What else did we do? Oh, we got rid of the carpet. There was shag carpet. Like, nasty. But I mean, the building is solid as heck. Brand new roof, like, nothing wrong with the plumbing. Awesome. And so you just see like, just these little things you gotta flip. It's not a big deal. But now I'll show you the picture. It's clean. It's clean. It's nice. Luxury vinyl plank floors.

Nice. Yeah. Nice. Nice. What goes into the next stage? So now you've taken on this. What's the next stage of that? Now you're just managing that?

Property and cash flow. Yes, so what's interesting, or the way that we do it, because I learned from my mentor's mentor, and it may change over time depending on lots of factors, but I like to play it safe. So what we could do is there's enough cash in the bank, there's cash flow coming in, that cash flow has improved. What else has changed? We're getting extra, you know, income from like laundry and just different things like that. Right. So whenever we're doing all this stuff, you know, it goes into an account and just stacks up, stacks up for the first 12 months because we do a value-add period of 12 months. Meaning we are using our construction draws, we're making the changes that we projected that we were going to do, and then month 11, 12, whatever, we just, we stop. Like, right, done. We've done as much as we're going to do. And then a couple months before that, we'll do a BPO or broker price opinion and then stick it on the market. And so at that point We start distributions after month 12, and they're quarterly. So month 15 is when you get your first check, and you just flow that cash until it sells, pretty much. And, and/or if there is the ability, like this one doing lots of renovations, you can refi cash out. Yeah, you can actually refi cash out up to 3 times on these things. So like my buddy Kenny Wolfe, there's a property we're doing a tour at on Saturday this week in Wiley. And it's called Lakeside Villas. He's actually cashed out, refi'd like 3 times, and now the investors are at 300% return on what their initial investment is. They're still holding it. So he's like, why sell it? I mean, it's pretty much a cash cow. Yeah, that's great. So there is an opportunity for cash on refi too, but also then a big check on sale.

That is nice. So once you— now you've got your 12 months, you've got it on the market, it flips, everybody gets paid, you start the process all over. That's the protocol strategy that you have in place. So you've taken it month 12, got all the renovations done, now it's on the market, now you're cash flowing it, then it sells, you pay all your investors back on your fund, and then you go to the next.

The first 2 deals I did, I built in a clause in our PPM that, that you're okay with a 1031 exchange. Yeah. So the idea is to go bigger and closer the city.

And you're not really paying that principal back, you're just growing that principal. Right, right.

Tax-free. Yeah, so that helps everybody out. But they all wanted to— it helps their portfolio, it helps, you know. Yeah, and so that's actually what Will did. He— I think he said he rolled like 4 or 5 times, maybe 7, I don't know. But I think 4 or 5 times. And then at that last one, it was 2,333% return on the initial investment. Investment that everybody did. So obviously all those investors were like, man, I'm rich, like, this is great. And because most of my investors are kind of starting with me, this is some of their first big investment, like they've been doing houses forever, and they just want to do passively whatever. So they're kind of game for doing something like that. They're not, we need to get out of there really quick. And so that's actually a good fit for a passive investor for us is somebody that's game to really get the max amount of money out of your initial money, right? Someone that can hang out forever for a bit. Perfect. What else? New things coming. So I think you asked me that, right? Yep. Um, where are we headed? New things coming, really the same thing, you know. So you find something, you do it, you keep doing it, right? It's working. So right now there are two things that our company needs to grow. We had our weekly meeting yesterday and kind of went over challenges and things that I need some advice on and a plan. So we need cash, money, whether it's cash to grow the business, whether it's cash from investors to invest in the deals. And we also need deals. So really, those are the two things right now. I've got a guy on my team now that has an executive MBA, and he's helping me write up a business plan next week because my banker friend was like, if you want institutional money, you're gonna have to have a plan, then you leverage your track record, they'll give you all the money you want. But you have to have that like professionally figured out, you know. And I have it in my backpack in a stack that thick, you know, the culture, the values, all the roles, key performance indicators, I mean everything. I've thought through everything. But now that I have an assistant with me, she goes, oh, just, um, record yourself talking, like read all your stuff and I'll type it up for you.

I'll type it up in formats for you. Perfect. There you go.

Yeah. That's awesome. So now it's about scaling and growing and doing more. And so that gentleman, it'll be up to him because he really wants to get back into real estate, but on the principal side of things. And so I think he'd be an outstanding asset manager. So he'd be able to help me manage the managers of 4, 5, 6 property.

You know what I mean? Right, right, right.

And he's local. So when I'm doing these deals, we have one coming up in Denton. I am the boots on the ground. I'm like, I'm the one going there for the events, not all of them, but I'll show my face and meet all the tenants and ask them what they want and try to do, you know, coupons for everybody and try to have little pizza parties and just things to give back, you know. So that's something that we can parlay and help each other, and so I can do more. Okay. And then obviously he would be part of the operating team, so he'd be making some pretty good money, you know, doing that. And I think that It's a win-win for everybody. He's got the experience with the business side of things. I have the drive and the vision, you know, and then we need all of the other, you know, VAs and people we have in place to get all the little things done. But so now it's just about scaling at this point. Perfect. Getting more funds, more passive investors. I'm actually working on, you know, a fundraising strategy that we have an investor portal that I have these guys build for me. And basically we put together to everybody that's interested in passively investing, everyone that already has, whatever. It's basically a way to tell them about what we do. The opportunity. So a webinar, something like, like a thought platform, like my podcast coming out soon, stuff like that. Talking about, you know, a meetup that I have, or talking about what we do. And hey, we got— yeah guys, we have a Zoom call coming up. And to record a Zoom call that's not property-specific. I've only really done it when there's a deal or prior to a deal and, you know, to my private investor list. But, you know, I'd really like to have an idea of how much capital we have to spend, right, or like ready to go, right? Which is— yeah, when I did this investor— the money-raising summit, I was already doing Zoom calls, but it was property-specific. Now this is in general. This is, hey, this is Here's our company culture. Here's the management team. Here's past projects. Here's the type of assets we're looking for. And have people come in there and then basically have a soft commit button or a way that people, I think you can actually get their email, whoever registers. And then basically get a one-on-one phone call with those people individually. Hey, if you're interested, what we're gonna do is give you an investor suitability form or send me a statement of funds, a POF or whatever, and we'll put you into our system. And basically let me know how much capital you would want to soft commit to. So I have a list of people that have already kind of, right, said hey. And then obviously you want to do like 10 times what you think you need to, right? But I think that that will really help our company grow and help each deal be less stressful. And then also having events for those people to kind of re-solidify, hey guys, this, this is what the team looks like, this is all of us, this is who we are, what we do. And meet each other investors. Like, yeah, so sometimes that will turn into cool things too. We also do checks parties. So when we had our first distribution, we have a local event here where it's food, booze, maybe a DJ, something like that. But all the investors can come out, meet each other, hang out. I get to speak in front of everybody a little bit about, you know, the company culture, because that's really why I'm doing all all this.

That's the most—

it has to be reaffirmed all the time. Like, if you're not on board with creating independence for people and getting them out of abusive situations, go away. I don't want you as a passive investor. I don't want you on the team. Like, we all need to be on the same, same page. So that's, that's what's coming. And so when you have the deal struggle, we're still figuring that out. So created a new CRM to find off-market deals. I was like, uh, oh, broadly is someone that I follow, and he is amazing, by the way. If anybody wants to learn a lot but not necessarily grow, like join a guru group, he will pour himself into his events where if there's a Q&A panel and you have enough good questions, he'll talk till 2 in the morning. He does not care. Non-stop. Tony Robbins is his mentor, his direct mentor, so he's very much like him. A lot of mindset stuff. So he'll literally go from like multifamily to facts, to mindset, to facts, to, you know, so it's a cool balance. And he's helped, he started in single family, but then he goes, hey, you just use all these different resources to apply what you did in single family that's working and just do it multi-family. Multi-doors, okay. You know, so that's a system that we're, my ops guy is right now on it today. I go, we need to have this thing working. I need to have the voicemails going out, the cards going out, the texts going out, the email drip campaign, everything. Ting on when someone gets added to as a deal. Nice. And then get that flow going as we watch them move down the trajectory of, are we gonna, you know, do we have the info, are they interested, have we met in person, and with the, anyway, is that analysis done, is it passed, you know, all those things. Trying to have it be systematized.

That's awesome. That's awesome. So, I can't remember, your goal was to have so many doors by the end of the year? 1,000. And you're not? 300.

Yeah, I was gonna say, right over 300. And then we have 133 coming. So you're gonna hit 500. Okay. And then I want one big boy for the end of the year. Like, I really think that once we get this CRM rolling— okay, so here's— I'm gonna manifest this like I always do. I always do. So what— one way I was able to get my first couple deals is because people go to sleep during December and January. Oh yeah, it's holiday time. Yeah, they take off. And a lot of the investors that are bidding on properties are sophisticated people, so like they'll take a vacation. Like, it's not like just the day off, you know, they'll go away for a while, right? And so I was able to get in an LOI on both these properties with no competition. Wow. Because I got lucky that basically somebody fell out of contract because they couldn't complete due diligence. Maybe it was family stuff. I don't know, not my business. Who cares? But the point is, is that that came, hey, this guy is like not able to close this, you know, can you guys? And it actually went to my mentor, but he's like, I'm looking at a state right now, Kaylee, you know, hey. So yeah, there was no competition. So I'm gonna do the same thing this year. Nice. Get these systems built up, you know, targeting people and talking to them. Anyone that actually communicates with us and is interested, I'm just gonna go directly to them, just talk to them, probably face to face, because we're only doing Texas. Yeah, no, nowhere else right now. You have to be focused and pick exactly what you, what you want. And, uh, so I think what's going to happen is in December— so I'm going to literally screw around in November. Like, we do have, you know, these people in the company in place getting things rolling, and it's not going to take too long to really have systems put in place. These people are really smart and they're really hard workers. I mean, it won't be an issue to start generating income, paying them more, all this stuff. But in November, I'm going to go to Santa Monica, go interview some people out there, kind of screw around for a little bit, relax, because in December I'm going to go hard. That's when everybody else goes to sleep and I wake up. I'm woke.

Hard at it. Yeah.

And then you get it under contract over the holidays and then bam, it's January and you're starting due diligence. That's how it worked last time. So why not repeat something that works?

Absolutely. Duplicate it. Perfect. Perfect.

So maybe that bad boy will be in December. That'll be good. 500 units, I feel it.

More power to you. More power to you. Well, it's been an amazing event sitting here talking with Kaylee and going through the last 12 months, I think, right? Felt like a decade. Uh, hearing about all that you've done, where you started, where you evolved in such a short period of time. And I think that the The key element that I want to point out is your passion. I mean, you're driven 24 hours a day to reach a point in your life, and you're not going to sit around and be passive about it. You've been extremely aggressive about aligning yourself with the right people. That's huge. Feeding off their energy, their knowledge, their expertise, and then not just resting on that, but then doing your own research, doing your own reading. And even though your mentors have said, "Quit reading, just call me," you still do, because there may—

sometimes I'll go, "Hey, what do you think about this?" That's a creative idea. Exactly. You never know.

They may— there's things that they've forgotten.

Yeah. Or something is like, "Hey, what about this?" They're like, "Nah, right, do it this way." Right.

Okay. Uh, so I'm extremely, extremely excited and impressed. I look forward to talking to you again in the next few months and continuing this evolution of your, um, your legacy.

And now, now I'm focused on getting more content out there. Yeah, thank you guys for having me. We love the content.

I'm telling you, one of the things, and you know, we love being able to be a voice for somebody like yourself because our listeners, our followers, whatever you want to allocate them. They may not know you through your channels, but now they do. Yeah. And they may be thinking, hey, you know, I had that fix and flip and man, it was a disaster. I hated it, but I wanted real estate. They hear this story, think, you know what, like you did, if that person can do it— yeah, our mailbox money. Yeah. You know, so it's great content. We enjoy it. We love it. We are honored to have you as a friend and as a network group partner, and, um, I look forward to seeing what happens.

There's a radio show coming out. I do. Yeah, I just got one in Houston. Yep, awesome.

Nationally syndicated, baby. That's perfect. That's perfect. Well, thank you so much, Kaylee. How do they get a hold of you if they want more information?

Give the audience that spiel. All my friends would like totally laugh at me right now because I say this to everybody, but just email me. They go, hey, I need a photo. Just email me, you know, anyway, but just email me. Yes, admin@theapartmentqueen.com. That's the best way. I check my email twice a day and I'll definitely get back with you.

12 and 4. Yeah, 12 and 4.

She might be after lunch, probably 1, but yeah, yeah, so middle of the day.

She didn't check it today because she started here at 12, a little after. I did. It's 1:30, so running way behind today, but that's okay. Again, this is Toby and Kaylee. Toby with Global Integrity Finance. You can go to our website to see this video at globalintegrityfinance.com, or you can call the office, 214-548-5190. Thank you very much. Talk to you soon.