The Management Team: Woody Creek Condos

You know, sometimes the best opportunities come from the most unexpected partnerships.

Exactly. When Pete and I first started talking about real estate, we had no idea what lead to teaming up like this. But now we can't imagine doing it any other way.

And so today we're going to share a little bit about why we're partnering up, how this whole deal came together, and why. You'll want to join us for the upcoming webinar to learn a little bit more about us and, and about the Woody Creek deal. So Mike brings a ton of experience from the brokerage side and from the management side. And he's got a ton of property management and project management experience as well. So right off the get go, I knew when we first started talking that we had potential to do a deal.

Yeah, exactly, Pete. And just to introduce Pete, Pete's vision for helping investors build generational wealth is really what stood out to me. And together we were excited to create something exciting.

All right, Mike, so tell everybody how we first connected and what drew us together in the first place.

You know, it really started we met through a mutual friend and we got together and we started talking. And Pete's the kind of guy that if you know Pete, he's more of the abundance mentality and the guy who goes out and meditates and really uses the law of attraction. And he attracted me, I attracted him. And it's just like when two opportunities come together and we sat down and we started talking ideas. We share the same ideas, same goals, and we knew right off the bat that him and I were a great partner into getting in his real estate Woody Creek deal. So right then and there, that's what stood out to me the most. What about you, Pete?

So when we first met, it was funny because I realized that although I. Although we hadn't met in person, I had been indirectly investing with you in your deals for almost 10 years because you had been working with this other operator who I invest through my ira. And you were kind of the magic behind where all those deals came from. So it was kind of funny how it all came, you know, full circle. But anyway, we started, started talking, and I think we both knew there was something there at the time. There wasn't a deal at the time, but. But we knew that there could be. And sure enough, here it is. So after that first conversation, I saw that how potentially combining our skills could really elevate what both of us are doing independently if we do it together. Right. So your background in acquisitions, large scale, multifamily, mobile home parks Buying properties all over the country, combined with your property management and project management experience, connect with my similar experiences. My back office team, you put it together and I knew there was something special.

Exactly. And I agree with that. And what I think is unique about the partnership is that we're both completely aligned on creating win win opportunities.

All right, so what happened next after we first talked? Did you have the Woody deal Creek ready to go at that point or did that come afterwards?

The Woody Creek deal? I had it. I was negotiating a deal with the seller and I was in talks of putting the deal into contract we had assigned lo. And it was really just negotiating the seller financing on the. On the property.

Yeah. And so really, Mike, what was it specifically when. Because this is your deal, right? You put this together. There's no two ways about it. This is something that you source by. What'd you do? You cold called.

Yeah, you know, with my family, we're in the transition of actually moving out to Indiana. So I said, I'm gonna build a database out in Indiana because I've always been doing the Sunbelt states and I've got huge database and sources there. So I said, let's start in Indiana. Let's start cold calling there. And I was actually calling on smaller units and I ended up finding the seller. And she just texted me back and said, hey, I've got Woody Creek condos for sale if you're interested. So as I started to put it together and really underwrite it and understand the dynamics of the deal, I said, whoa, I've got a pretty good deal. Even though it's not something that I was looking in my wheelhouse, I said, this is something that could be magical in the future and I'd love to jump all over this deal.

Nice. So my question for you, Mike, is you've got this amazing deal locked under contract. Why did you come to me? Why did you bring it to me?

Well, I brought it to Pete. Well, I brought it to you, Pete, because just when we met, I knew right off the bat that you were the type of guy, the savvy investor, the. Some of the things that I recall from the conversation, your experience in helping investors grow the platform, I was like, this guy, he can definitely help me. We can build a partnership together. He's really the missing link of what I. What I need. And as you recall from the beginning of your introduction, you know, I was more of the guy that was bringing in the deals more the guy was in the management role. So, Pete, you fit in perfectly in a partnership where you know, you've got seasoned investors, you've got a seasoned track record and that was something that pull us pulled this deal together.

Cool. Well, I felt the same way. I mean in terms of you like it was your deal so you've got the control. You could bring in whoever you need as a partner, you know, when you've got the deal. I was honored that you. That you did. And like I, like I mentioned to you early on. Well, I don't know that I mentioned to this. I spent the first. We talked about this deal for probably six weeks before it really went anywhere. Is that right?

That's right.

Yeah. So I'll be honest with you. In those six weeks, I was looking for every reason possible to say no. I honestly was. So was I. I was looking for so many reasons to say no.

That's right. And we were being so conservative. I was being conservative. And that's why I had to bring you in as well because I know you had the experience and other deals in underwriting as well. And I was just trying to make sense of this, like why are these numbers are too good to be true. This, this is a great deal. It's got, you know, really high yield returns and I'm like, this is a great opportunity and just keep beating it up to get it to a point where, where's the flaws, where's the holes? And it's, it's still, we're still trying to find that out.

Well, so for six weeks, I turned over every stone possible. Every, everything that I. Every stone I turned over hoping to find a reason to say no to you politely because I didn't want to divert my time and my focus away from what I'm doing right here to go help you. Because I do my own deals. I don't, I don't help other people with their deals. Right. So me making that jump is a big deal. But it goes show how much I believe in and I've got my own money backing it just like you do. Right. We put up a lot of money for this deal. So here's the thing though. Here's the kicker. Before I committed to you, I went to some of my mentors and I told them what I was considering because I. It's a big deal for me. I'm 100% laser focused on what I'm doing. And there's so many distractions that come into my life. Opportunities that aren't true opportunities. They're just distractions. And I am in the habit of just saying no to every Every of them. So the question that I was told to, to ask myself is, well, number one, this guy Mike, somebody that you want to do one deal with or that you want to do multiple deals with. Right, right. When I asked myself that question, I thought Mike is a rock star in his own world. And I could totally see us building out a ton of deals and a huge portfolio together. And so, you know, when two partners get together, it could, it could go, it could go downhill or it could be, you know, a rocket ship. And I think we're at the beginning of the rocket ship phase. But that was one of the things that allowed me to mentally make the shift. And number two, learning more about this market Dyn and the returns on this deal, it just as a, as a savvy investor, I just couldn't say no to it. All of my port, my portfolio and properties are in Phoenix right now, which I love the Phoenix market. But hey, there's room for diversity. Okay? Diversity is good. It's called portfolio architecture. And so once I weighed all of those, I was all in. And so here we are. Now we've got this deal locked up under contract. Mike and I each have our own skin in the game. We got a ton of money holding this down with earnest money and it's really not a big deal. We're raising 2 million bucks, which isn't a whole in the grand scheme of things. And these returns are just great. And it's in a stable, linear market. And if we didn't mention it already, I'm going to track back because one of the things that I liked about you, Mike, that I didn't talk about earlier is you're a two time state champion wrestling in Indiana. Right. Like, okay, we glossed over that. But when you meet a D1 2 time state champion in any sport, it goes to tell you about that person's character, right?

Yeah, absolutely, absolutely. And that, and just speaking about my background, I am pretty well known in Indiana just for that. And when we put this deal together and you mentioned where are the flaws of this deal, I thought you, Pete, were going to walk away because it was in Shareville, Indiana. What is Sherville, Indiana? So that's where I had to do some talking to you. So you understand that market and you found out a whole lot of Shareville is very similar if not better than Phoenix as far as landlord friendly state and some of the tax benefits that there are in that market. And you just dive in deeper into that market, you start to understand and pull away like, wow, this is, this is an amazing market. This is a very good deal. And that's what has to be shared with our investors and folks that want to get on board with this deal. So it's a great experience. But yeah, I appreciate you bringing that up about the wrestling. I do have that experience and it does show a lot of that character that I've built in myself and, and with my family as well. I try to instill that hard work because that was 25 years of my life of hard work day in and day out, just pushing through. And that's kind of what pushed me on the next stage in brokerage career and my real estate investing career is just learning how to dig deep and find good deals. That's how I used to be called when I was in the brokerage. A lot of the guys would tell me they flip rocks everywhere and find these deals out of nowhere and just bring them in and they make a lot of money off the deals. So I was very good at that.

Well, it doesn't surprise me, the success that you've had in real estate. You know, I used to play sports also. Never D1, but the habits and the character that it builds translates from sports to business. And here you are now crushing it. And it's not a surprise, but it's one more thing that I liked about you. You. And it's important for our investors and our partners to understand that because when you go into business, somebody that character builds trust. And so here we are, we've got two guys, you and I, who've got both got extensive real estate backgrounds in investing, purchasing, selling, all kinds of real estate transactions. And we've partnered up on a property in Sherville, Indiana, which happens to be your hometown, where you're well known. Right now you live in Phoenix, you're moving back there. But essentially what this means to our investors is if they've got one rock star manager boots on the ground in town, you've got all of your family connections in town and their connections which you're going to utilize on the project, the project management, the construction, all of that, you've got the back office support that I'm bringing to the table, my project management experience, property management experience. And so really, you know, as an investor in this deal, if I'm just coming in as a, as a limited partner and I'm looking at these two people, me and you, as the management, to me, that's complete trust and security. You've got two rock stars, each in their own right, handling different departments and collaborating. And so, yeah, I'm really excited and I'm going to put in as much money as I can as an LP in this deal because, you know, it's just a no brainer. So anyway, Mike, do you have any last things to share?

Yeah, I'm the same way, Pete. We're bringing in, we're both bringing in our money on this particular deal. It is a no brainer and we're keeping this webinar intimate to make sure we can answer any of your questions and provide any real estate or real value there are. These spots are limited. You know, we've mentioned it to a few people and they're already on board and excited about the opportunity. So this is your chance.

All right. The Woody Creek deal, it's a $2 million raise, 506c offering only available to accredited investors. There's not a lot of room for 2 million bucks. So if you're interested, now's the time to do it. Reach out schedule for the webinar or schedule a call and let's get a soft commitment because you know what, it's easier to take you off the list in the future if you to change your mind than it will be to add you. So there you go. Thanks and have a great day.