Master Your Niche And Tips To Scale

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All right, everybody.

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Welcome to episode four of the Wholster

Real Estate Wholesaling Podcast.

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We are here today with a great

friend of mine, just a fantastic human.

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Travis Lauchman of Lauchman Real Estate.

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How are you, Travis?

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Doing wonderful, sir.

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Thank you for having me on. You're

looking good.

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I like the beard.

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Thank you.

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Thank you.

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This new addition,

my wife gave me the pass.

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She gave you the pass?

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*laughter* Just like Yo

that's the Max length.

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Don’t go beyond that, and we’re good.

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Yeah, that's.

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Yeah, thats good. It’s getting cold,

you gotta keep it warm.

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You know, you can get dry.

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I've heard all these health benefits,

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and I’m in man, I’m

all in, and frankly, I'm

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a little lazy

when it comes to hair care. Okay.

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Yeah, me too.

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This is my way of getting away with it.

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Well, I'm jealous

because I wish I could grow a beard.

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All I can do as this little goatee

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It looks good

The rest of it doesn't come in too well.

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But, hey, thanks for coming out, man.

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It's.

It's going to be exciting to talk to you.

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I know we've been gosh, we probably talk

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a couple of times

a week about real estate and

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it to get you on here and pass on our

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you know, fun conversations to others,

I think is going to be a good time so.

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Right on man.

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And it is a pleasure.

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Plus, we have

we have both active transactions

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and we have just kind of day to day,

you know, future investment stuff

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we chat about. So, yeah,

all sorts of plans. Yeah.

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So to give a little background to guys,

Travis is a real estate investor.

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He is a real estate agent.

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We've

worked together on a lot of projects.

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We've done some wholesaling together.

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He does some project management for me.

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He sells a lot of my projects

and he does a ton of stuff on his own.

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He's is very, very much in the real estate

investment world.

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So tons of knowledge

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coming out of this guy for sure.

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I appreciate that.

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Tons, tons of people

to thank you all along the way.

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And as I got started in going and

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you know, maybe I can relay how that

that whole journey began.

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Briefly.

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Let's hear about how you got started

and where you're at today.

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Cool. Cool, man. So,

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you know, the way I was

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in, I was working in finance

for a solar energy company.

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I moved to Baltimore City from, like, D.C.

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and because my wife was going to Towson

to become a teacher.

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Okay, So that's that was the catalyst

to moving up to Baltimore.

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And, um, when I was working

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in that company,

it was became a big company.

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They publicly traded

and it was a lot of desk hours

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and like

there was kind of a corporate path,

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but I just realized it wasn't for me

like trying to climb the ladder.

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I just you know, you could anyone

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I think you can do it with enough effort,

but I just didn't.

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I kind of lost interest in doing it

after putting in, you know,

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a couple of years of a ton of hours

A common story for real estate investors.

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Right.

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And like, I don't I'm not

one of those people that have like issues

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with authority.

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So it wasn’t like because I needed it done

my way.

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It was just like this

this if you if you look for

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in 25 years, is this like where you want

your life to go?

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And I just was getting so bored sitting

and the solar people are awesome.

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Like I love them and I love that industry.

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I just that specific role didn't fit

wasn't, wasn't great for me.

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So anyway, I come to know

Charm City Builders Local

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developer here well-known well-marketed

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was starting a renovation

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on a house next door to me

where I was renting in Federal Hill

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and at that time I had just started

getting into like bigger pockets

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and Rich dad, poor dad,

and kind of the the, the basic journey

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of real estate information

and getting the wheels churning

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as far as like what could be possible

if we developed

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income on our own

and like, can we do this? And

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Tyler Banks in Brooke Kaine

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at that time owned that company,

both of whom I know you know

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as well.

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Talked to Brooke this morning actually.

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There you go,

and so they had a really cool article

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right up in the Baltimore Sun and I was I

these guys are so legit

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I can't believe they're doing the house

next door to me.

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Let me just throw my name in the hat

and just see like,

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if they're willing to allow me to shadow

work for free, whatever.

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So I wrote up this,

you know, well-crafted, email it to them,

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and I was just

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basically a cold email saying,

Hey, I'm really interested in real estate.

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Here's what I've done in the past.

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I don't know if there's any opportunities

with you guys,

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but I'd love to learn anything

and help in any way I can.

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And I'm happy to do it for free.

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Yeah.

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So that's

kind of they, it happened to be the case

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that they were looking to process

and build some systems and,

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you know, after

they said yes, they responded.

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We met and it was really

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we kind of all hit it off together,

those first couple meetings.

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And then maybe a few months later

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after that trial phase,

which was good for, I think both parties

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there at that time,

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they were like, Hey, just like whenever

you're ready, you can come work for us.

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And and so that ended up

being my first foray

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and it was amazing,

like to learn from two seasoned investors,

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both of whom I respect tremendously,

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and then two guys

who are willing to share, you know,

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so much information

with you, very selfless guys and dudes

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who like have have been through

a lot of ups and downs in their careers.

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And for someone like me who doesn't

inherently take risks so beneficial,

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right, to like see it happening

and unfolding in front of you and learn.

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And then as the time comes,

like grow and grow

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more confidence and then finally

be willing to take those risks yourself.

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Yeah, exactly.

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And I'm thinking eventually you

worked yourself into a paying position.

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Yeah.

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Yeah.

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So I was I joined them

as like a W-2 employee.

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And I think in the very beginning of 2014

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and worked in that capacity

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as sort of like a director of sales

and acquisitions,

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but really kind of doing

all sorts of different things.

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And I liked being a Swiss Army knife

because I got to learn so many

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spots in the business,

like between construction

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and I was doing like Historic Chap credits

a local Baltimore thing

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for historic homes and,

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and then I got picked up the real estate

license with the idea that, hey,

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if we sell the stuff that we're building,

you know, or own,

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we don't need to,

we don't need to pay another agent two and

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a half percent each time, like I can do it

in house for a much smaller fee,

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almost build it into the salary,

whatever it was.

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So that was just something that happened

organically and affiliated

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with a brokerage locally called

Cummings, Cummings and Co Realtors.

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Dave Cummings is the owner of that.

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And again, just a through of the network,

the limited network I had,

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he was someone I was told, hey,

speak with this guy

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and what a great thing

that's been too man.

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Dave is just such a wonderful guy,

very sharp.

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And the way that he has his business

model,

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it's not like a hands on, like a Keller

Williams or one of these big brokerages.

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It's just kind of run your own show

and I'm here for support,

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and they've got like just a great team

agents there now.

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And they've grown like man

tremendously even, in five years.

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Yeah,

they have exploded. That's wild, man.

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Yeah. So, so cool to see.

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I think there's 600 ish agents there now.

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That's, that's huge.

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Good for them. Yeah.

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Yeah. He, they're doing great.

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And I think like maybe the number one

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market share in the city

and maybe two in the county, they're like

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constantly vying for one and two now,

which is pretty impressive.

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Given that it's like a boutique shop.

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That's really great. Good for them.

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So you, you managed to get yourself

into a position

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where you could learn a ton,

basically get paid to do it.

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Yeah.

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Yeah, man.

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And, you know, I think that that's

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absolutely the case

and that's kind of how it turned out.

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And of course, the flip side of that

is I'm also obviously

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sacrificing the time, too, right,

like anything they wanted me to do.

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I'm jumping on it. Yeah.

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So I think that approach worked

well for me

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because we were both

sides were willing to play ball,

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they were willing to share information and

I was willing to do whatever was asked.

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Soak it up like a sponge, do it all.

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Yeah, do it all.

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And got to meet a lot of good contractors,

like people on the way,

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wholesalers who ultimately,

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you know, just through interactions and

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and deciding

how to be once we’re in business.

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Well those things can carry forward

so like the way you approach

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people in any position wherever you are,

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I think it's critical to consider

how you want to build relationships

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because then again,

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they may come around in a year or two

and you want them to remember

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those interactions

being positive, ideally, or at least

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if nothing else, fair, right?

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Like, right,

Like honorable and fair, right?

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Yeah.

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No, I think that's that's really great

that you're able to do that.

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And a lot of people have asked me,

how do I get into this business?

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I got a job.

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I don't I don't really like

I want to get into real estate.

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I don't know how to do it.

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And what

you've done isn't necessarily easy,

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but you put yourself out there, right?

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You looked for the opportunity

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where you could get into the business

and make some money,

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but learn a ton from people

that are experienced.

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And I think

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that's a really, really good way to do it.

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I know, guys that have been like, Hey,

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I'm going to come work for you just like

you did, and I'm going to do it for free,

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and I'm just going to figure out

how to provide the value.

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And sometimes you can just create

that position for yourself,

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and it's just such a wonderful way to get

into the business and start learning it

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in a way that you can get paid

and leave your

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your corporate job that you probably don't

like in the first place.

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And then

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the next step is, okay,

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what?

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How can I take this piece?

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Take what I've learned, the relationships

I've built, and start

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moving that into something that can then

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replace that income?

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Totally. Totally.

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And and,

you know, one quick last note I’ll mention

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about that,

just because I think it's relevant

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for people who are considering it,

it was like a lot of folks

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and I think some of my family members

included

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when I mentioned

I was even considering this,

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they were like, Don't do it, don't do it.

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You don’t want to do it

And I remember when I was telling

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like I had a good relationship

with the people I was working with

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in the previous company.

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Yeah, that the lady was like,

Are you sure?

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Like, that's a really small company, like

you, you do you know what you're doing.

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And it definitely took some courage. And

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I had like, I think I had

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my first kid was like,

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we were expecting our first kid.

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And I was like, Man, I'm taking a step

backwards from a salary standpoint.

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But like, enjoy,

you know that as far as how much fun

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that I think this could be and the future

rewards like it became worth it.

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And my mind went to, if I don't do it now

like it's not it's not happening.

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It's like I have this kid.

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It gets that much harder.

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You know, you want stability.

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And anyway, I just wanted to mention that

for people who may be thinking about it

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That’s a great point,

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it takes a lot of courage and you're going

to get a lot of naysayers.

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For sure.

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For sure. For sure. Yeah.

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And if we didn’t,

we would be in the same spot as like,

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you know,

the general rest of the population.

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And again,

there's nothing wrong with choosing that.

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But if you don't, if you don't want it,

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then you have to have the courage

to choose something else. Right.

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And go for it.

And give it a shot. Exactly.

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So, let's pick up there.

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So you've been working

for Charm City for a bit,

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and what was the next step for you?

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So yeah, learned a ton.

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Got to experience

that like so many different

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facets of real estate through

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just my interaction with Charm City,

which at that time they were flipping 30

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to 40 houses like full gut renovations

a year.

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Generally in the harbor

neighborhoods of Baltimore, Fells

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Point, Federal Hill, Canton.

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And then

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we started realizing.

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So we were kind of coming up

as a construction squad

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and started realizing, Hey,

this marketing thing we're pretty good at.

00;14;07;05 - 00;14;09;21

And Tyler Banks is a naturally

00;14;10;23 - 00;14;16;05

gifted marketer

and just has like a mindset that is

00;14;16;23 - 00;14;20;15

constantly marketing and like really good

with building relationships.

00;14;20;15 - 00;14;22;10

And so that was his strength.

00;14;22;10 - 00;14;26;12

And you realize I think construction

wasn't his favorite thing to deal with.

00;14;26;29 - 00;14;31;13

So we shifted gears as we were going along

like organically into more

00;14;31;13 - 00;14;34;26

of a marketing company and at that time

got into some wholesaling.

00;14;35;06 - 00;14;38;19

Okay, so started to get

00;14;38;19 - 00;14;42;04

an understanding for how to do that

and build some systems around that.

00;14;42;04 - 00;14;47;11

Some software's

a couple CRMs that helped us out.

00;14;47;11 - 00;14;52;09

And then finally, as we were going along,

we did later

00;14;52;25 - 00;14;57;21

the company started kind of paring down

a little bit in the like around 2018.

00;14;57;21 - 00;15;02;17

And so we started going doing,

you know, with kind of the blessing

00;15;02;22 - 00;15;05;20

from the people I worked for

and just open communication.

00;15;05;20 - 00;15;07;12

I started doing some projects

on the side, on my own.

00;15;09;12 - 00;15;11;22

So I actually bought

00;15;12;18 - 00;15;17;25

one of the places that Charm City

had under contract as my first rental

00;15;18;13 - 00;15;23;08

and paid like an agreed on wholesale fee

and did that whole thing

00;15;23;23 - 00;15;27;28

and that kind of kicked off

the thought process for rental properties

00;15;27;28 - 00;15;32;24

and then eventually,

you know, with a couple more years, me

00;15;33;05 - 00;15;37;22

and Tyler ended up doing some partnership

on a bunch of different properties later

00;15;37;28 - 00;15;42;12

where we built a small rental portfolio

and flipped a bunch in ‘20 and ’21.

00;15;42;29 - 00;15;46;21

And then and then this year we wrapped up

00;15;46;28 - 00;15;51;04

or ‘22, we wrapped up a bunch of those

just taking advantage of the marketplace.

00;15;51;04 - 00;15;54;12

Yeah, the the ‘20-’22

00;15;54;12 - 00;15;57;16

marketplace in Baltimore.

00;15;57;24 - 00;16;02;27

But the nation as a whole I think has been

interesting to say the least.

00;16;04;10 - 00;16;07;01

Just really hot markets.

00;16;07;07 - 00;16;11;12

Um, I, I kind of went the same route

as you and took advantage

00;16;11;12 - 00;16;15;01

of some of those situations myself

and downsized

00;16;15;01 - 00;16;18;06

a bit of what I had

00;16;18;06 - 00;16;21;03

because it's just a great time to do it.

00;16;21;03 - 00;16;22;10

Yeah, totally man.

00;16;22;10 - 00;16;23;21

Like just unbelievable.

00;16;23;21 - 00;16;27;11

I mean, you know,

00;16;27;12 - 00;16;30;10

it was one of those times

when you were flipping homes

00;16;30;12 - 00;16;35;13

that it almost didn't matter

what you were putting on the market.

00;16;35;13 - 00;16;37;04

You just had to get it out there.

00;16;37;04 - 00;16;41;14

You know, within that time frame

and the time frame wasn't small.

00;16;41;15 - 00;16;44;11

It was like 18 months, you know?

00;16;44;11 - 00;16;46;19

Two years almost, where you could just,

00;16;46;19 - 00;16;48;14

you know,

and you don't want to put out junk.

00;16;48;14 - 00;16;51;09

But at that time, it was incredible.

00;16;51;09 - 00;16;53;28

People were buying houses

with no inspections.

00;16;53;28 - 00;16;55;22

They were going above ask price.

00;16;55;22 - 00;16;58;14

There was all these you remember that

the appraisal contingencies

00;16;58;29 - 00;17;01;19

in normal times, they're like,

we're either going to waive it or

00;17;01;19 - 00;17;05;18

we'll pay, you know, up

to 20 k more than the appraisal.

00;17;05;22 - 00;17;08;21

Like it was bonkers stuff man.

Yeah, it was.

00;17;08;21 - 00;17;12;22

I think we sold a couple

in a certain neighborhood that

00;17;13;23 - 00;17;14;12

each time

00;17;14;12 - 00;17;17;08

we sold

one it was the new neighborhood record.

00;17;17;15 - 00;17;20;02

Yeah the new record. Yeah. Yeah.

00;17;20;02 - 00;17;21;10

for sure man.

00;17;21;10 - 00;17;24;20

I think one of the last ones

we sold was a record

00;17;24;20 - 00;17;27;18

and it was a cash investment purchase.

00;17;30;08 - 00;17;31;25

Oh, that's right.

00;17;31;25 - 00;17;33;28

Wild times for sure.

00;17;33;28 - 00;17;34;11

Yeah.

00;17;34;11 - 00;17;37;22

When you think about,

you know, owning that house

00;17;38;10 - 00;17;41;22

and maybe you bought it for 4 to 5 years

prior to that

00;17;42;01 - 00;17;45;28

and you can start considering the number

you you purchased it for,

00;17;47;13 - 00;17;49;17

It leaves you, like

00;17;49;17 - 00;17;51;21

I always think are we, you know,

00;17;52;11 - 00;17;54;16

someone who wants to buy, buy and hold

property.

00;17;55;19 - 00;17;59;16

It's hard for us to wrap our minds around

how you can you can buy something

00;17;59;16 - 00;18;04;04

for cash at that number, you know, like,

yeah, it makes you go. Who?

00;18;04;08 - 00;18;05;01

Who is this?

00;18;05;01 - 00;18;08;27

What are their, what's their strategy and

how are they willing to pay this amount?

00;18;09;07 - 00;18;11;15

Then again, you had a 2-3% interest rate.

00;18;11;23 - 00;18;13;12

Yes, interest rates were different.

00;18;14;23 - 00;18;16;17

Additionally, when the

00;18;16;17 - 00;18;19;23

market and the opportunities

dry up like that,

00;18;20;22 - 00;18;22;23

cash just needs to find a home.

00;18;23;26 - 00;18;25;07

True. Yeah.

00;18;25;07 - 00;18;27;02

That stuff tends to happen.

00;18;27;02 - 00;18;30;13

Um, but yeah, it was a wild market.

00;18;32;06 - 00;18;34;22

And then I think as all this was going

00;18;34;22 - 00;18;38;15

on, you and I were having

a lot of conversations about,

00;18;38;15 - 00;18;42;10

you know, looking at the market,

looking at what we had and talking

00;18;42;10 - 00;18;45;27

about this idea of doing more with less.

00;18;48;03 - 00;18;51;18

Um. Do you want to talk about your mindset

there?

00;18;53;04 - 00;18;54;24

Sure. Yeah. Yeah.

00;18;54;24 - 00;18;59;19

So that's always been

I think the so the doing more

00;18;59;19 - 00;19;04;09

with less is a I see it as both a strength

and a weakness I think.

00;19;04;09 - 00;19;08;26

And I'm talking about myself when I,

when I think about this and a lot of it

00;19;08;26 - 00;19;11;26

is the idea that especially coming

00;19;11;26 - 00;19;16;01

from a place of being a jack of all trades

and just problem

00;19;16;01 - 00;19;19;27

solving and sort of like figuring out

how to operate nimbly,

00;19;20;20 - 00;19;24;06

you just tackle any challenge

that comes across your desk.

00;19;24;06 - 00;19;26;02

Email is you're

just like jumping on everything,

00;19;26;02 - 00;19;27;14

so you're dealing with marketing

00;19;27;14 - 00;19;29;28

and accounting and sales

and the whole nine yards.

00;19;30;23 - 00;19;34;16

So when we learn

how to do this, oftentimes

00;19;34;27 - 00;19;38;21

we it's it's a good thing in the sense

that we have the knowledge

00;19;38;21 - 00;19;42;18

and the capability to handle

almost anything that comes across our desk

00;19;43;06 - 00;19;44;16

from a real estate standpoint.

00;19;44;16 - 00;19;48;29

Once we understand the basic system,

right, so we can operate in any

00;19;49;13 - 00;19;53;08

any of those places,

the constraint becomes time.

00;19;53;14 - 00;19;57;05

And like if you and we've talked

about this in the past offline,

00;19;57;21 - 00;20;02;08

if you don't leverage your time

and put other people who are as skilled

00;20;02;08 - 00;20;05;28

and likely more

so ideally in those positions,

00;20;06;12 - 00;20;09;18

you're constrained

only to what you yourself can do,

00;20;10;05 - 00;20;13;02

you know, and we all have

the same number of hours in the day

00;20;13;11 - 00;20;17;19

and probably other ways we like

to spend them than just working away.

00;20;17;19 - 00;20;18;26

plugging away.

00;20;18;26 - 00;20;22;07

So, you know, I look at it from a sense of

00;20;22;29 - 00;20;28;07

2020 came around and COVID hit, and for me

00;20;28;23 - 00;20;34;05

it was like a great time to buckle down

and look at all the systems

00;20;34;05 - 00;20;38;07

that I operate in and say, can I

can I continue in this way?

00;20;38;07 - 00;20;39;29

And at that time, it felt very uncertain.

00;20;41;11 - 00;20;44;16

You know, it was like no one knew

what was going to happen

00;20;44;16 - 00;20;46;21

in the next few months

after that March, April.

00;20;47;15 - 00;20;51;09

And I think, frankly, like definitely

it was a shock to me

00;20;51;09 - 00;20;56;04

that the direction it went

was just like a match and some gasoline.

00;20;56;04 - 00;20;57;22

Like I thought it was going to go

the opposite way.

00;20;57;22 - 00;20;58;21

Yeah, me too.

00;20;59;04 - 00;21;00;04

Frickin wild, man.

00;21;00;04 - 00;21;04;14

So anyway, I think like, ultimately

00;21;05;00 - 00;21;09;02

it has become a great strength

to understand multiple facets

00;21;09;02 - 00;21;13;06

and really entrench and take

the time needed to learn.

00;21;13;06 - 00;21;16;26

Because I'm confident enough

that if I wanted to scale back

00;21;16;26 - 00;21;20;26

and just be a sole operator,

I have the capacity to do that.

00;21;20;26 - 00;21;22;26

And that's kind of where I've been.

00;21;22;26 - 00;21;27;12

And on the flip side,

I think it is important to find

00;21;27;12 - 00;21;30;16

and it could be via VA’s or it could be

00;21;31;00 - 00;21;34;08

just building out systems efficiencies

via software,

00;21;34;24 - 00;21;39;09

but figuring out ways where you are

your own bottleneck and then moving,

00;21;39;09 - 00;21;44;00

you know, removing that constraint

so that you can grow a little bit right?

00;21;44;00 - 00;21;45;10

Yeah, that makes a lot of sense.

00;21;47;09 - 00;21;47;26

Yeah, man.

00;21;47;26 - 00;21;52;07

And, and, and now I think might be another

one of those times to look,

00;21;52;07 - 00;21;55;18

you know, almost do like an internal audit

and see

00;21;56;10 - 00;21;58;24

what kind of where

00;21;58;24 - 00;22;03;08

you are not being nimble and where you're

maybe spending a lot of time

00;22;03;19 - 00;22;07;04

that doesn't return a lot of cash

and kind of reconsider.

00;22;07;13 - 00;22;12;00

And also like even places that you're

spending money that aren’t a good return,

00;22;12;18 - 00;22;15;00

which might be a good time to consider

00;22;15;00 - 00;22;17;26

from a marketing perspective,

like how we come about

00;22;17;26 - 00;22;21;21

acquiring these deals

or get these opportunities in front of us.

00;22;21;21 - 00;22;22;09

Right

00;22;23;15 - 00;22;26;03

To that point,

00;22;26;03 - 00;22;28;05

what type of marketing

00;22;28;05 - 00;22;31;19

are you doing in your business?

00;22;31;19 - 00;22;36;29

So a few different channels

and one of which was

00;22;37;26 - 00;22;42;00

is pay per click on Google,

which is basically just like

00;22;42;23 - 00;22;45;08

someone searches geographically

00;22;45;08 - 00;22;47;27

in Baltimore and surrounding areas

00;22;48;09 - 00;22;50;29

like a keyword search,

sell my home Baltimore.

00;22;51;14 - 00;22;53;02

And those first three,

00;22;54;09 - 00;22;56;13

those

first three hits, they come up our ads

00;22;56;25 - 00;22;59;26

and you can see them highlighted

before you get to the end search results.

00;22;59;26 - 00;23;02;26

Right So that's one way I market.

00;23;02;26 - 00;23;07;01

And then folks will find me and fill out

a web form or make a phone call.

00;23;07;03 - 00;23;09;19

So you’re one of those ads.

00;23;09;19 - 00;23;11;07

I’m one of those ads, Yeah.

00;23;11;07 - 00;23;13;07

Yeah. I'm

one of those three ads typically.

00;23;13;07 - 00;23;16;18

And again, it's like based on where

the search originates,

00;23;16;18 - 00;23;19;27

which is linked to an IP address

00;23;19;27 - 00;23;23;26

and that is operated

by a company called Geo Flip.

00;23;24;00 - 00;23;25;20

So that's all third party.

00;23;25;20 - 00;23;30;07

I just essentially have another company

manage that entire ad campaign

00;23;31;09 - 00;23;33;12

and I've been doing that

00;23;33;12 - 00;23;36;18

for a couple years and it's worked well.

00;23;38;06 - 00;23;42;02

It's, you know,

yeah, it's just a good consistent way

00;23;42;02 - 00;23;47;06

for me to get a few leads a week

and kind of keep keep the churn going.

00;23;47;15 - 00;23;49;28

And to that point, like that

we were talking about earlier,

00;23;50;18 - 00;23;53;01

you know, it's

something I've considered like is it

00;23;53;07 - 00;23;56;10

I've considered outsourcing

the phone calls and all these things.

00;23;56;26 - 00;23;59;09

But I think another way to think about

00;23;59;17 - 00;24;03;23

when we're doing this is to consider

like what's at the top of the funnel

00;24;04;00 - 00;24;07;14

and sort of how do we do,

what's the first domino that falls?

00;24;07;14 - 00;24;08;17

And it's the marketing, right?

00;24;08;17 - 00;24;10;24

And I definitely learned

that from like Tyler and Brooke.

00;24;11;07 - 00;24;14;19

If you don't have marketing going,

nothing else is going to happen.

00;24;14;22 - 00;24;18;17

Like, you have to get opportunities

to get the business rolling.

00;24;18;17 - 00;24;22;14

So it does it you know,

it's a little scary when you start

00;24;22;14 - 00;24;25;12

because there's there's a monthly

payment involved, and all these things.

00;24;26;03 - 00;24;29;25

And for me that was important

because I take it seriously,

00;24;29;25 - 00;24;34;00

you know, like a phone call or a lead

comes in like I'm pretty much dropping

00;24;35;01 - 00;24;36;19

to the extent I can, everything

00;24;36;19 - 00;24;39;15

that's going on and kind of tackling that

right away, Right?

00;24;40;02 - 00;24;40;11

Yeah.

00;24;40;11 - 00;24;42;26

And there's a level of commitment there.

00;24;44;13 - 00;24;46;18

You can't just put in a month, right?

00;24;46;18 - 00;24;49;26

You got to commit to the consistency

00;24;51;10 - 00;24;54;04

to see the results.

00;24;54;04 - 00;24;54;25

For sure.

00;24;54;25 - 00;24;58;00

And like some months are duds,

you know, and frustrating.

00;24;58;20 - 00;25;03;00

But then the next month, you know

it's it all ultimately equals out and

00;25;03;19 - 00;25;06;28

and I think it's always important

and I haven't been the best at this

00;25;06;28 - 00;25;10;08

but to measure you know

to figure out how you can measure

00;25;10;22 - 00;25;15;07

those campaigns, you know, a lot of people

use the word like they have their KPIs.

00;25;15;07 - 00;25;15;25

KPI’s yup.

00;25;16;06 - 00;25;20;16

You know, and just understanding like

what would it or what are the variables

00;25;20;16 - 00;25;24;15

that by which if I accomplish

these things, I will be successful.

00;25;24;15 - 00;25;25;09

How many leads

00;25;25;09 - 00;25;27;21

does it take to get an appointment,

How many appointments for an offer?

00;25;27;21 - 00;25;29;12

How many offers for a deal?

00;25;29;12 - 00;25;31;16

How many deals to reach the income level

we want?

00;25;31;16 - 00;25;33;19

And then you can just kind of work

backwards and say, okay,

00;25;33;19 - 00;25;38;01

well I need 20 leads a month to get myself

two deals like whatever it might be.

00;25;38;10 - 00;25;38;17

Right.

00;25;38;17 - 00;25;43;19

And that can help you sort of dial

in what your cost is per deal as well,

00;25;43;19 - 00;25;48;06

and make sure that when you do a deal,

there's not only room for you

00;25;48;06 - 00;25;49;00

to make a profit,

00;25;49;00 - 00;25;52;11

but room for you to cover your costs

that it took to get the deal.

00;25;53;14 - 00;25;54;03

For sure.

00;25;54;03 - 00;25;54;24

For sure.

00;25;54;24 - 00;25;58;29

And if you are measuring

and maybe you've got a couple different

00;25;58;29 - 00;26;03;11

marketing channels going,

so for instance, pay per click, you know,

00;26;03;11 - 00;26;07;04

you might have a marketing campaign

that's just direct mail.

00;26;07;20 - 00;26;11;11

Yeah, a lot of folks are doing different

things, text messages.

00;26;11;28 - 00;26;13;13

So then you if you're not

00;26;13;13 - 00;26;16;23

if you understand how many leads

it takes and understand the cost per lead,

00;26;17;10 - 00;26;21;13

well then you can basically look apples

to apples across the campaigns and say,

00;26;21;13 - 00;26;25;13

well, this one's kicking this one’s

butt, like, let's dial that one up.

00;26;25;22 - 00;26;29;01

And and see how that goes. Right.

00;26;29;01 - 00;26;30;20

So that's, that's super helpful too.

00;26;30;20 - 00;26;33;20

And I think probably for any business

00;26;33;20 - 00;26;37;08

like pretty important to

to have those basics understood.

00;26;37;16 - 00;26;37;29

Yeah.

00;26;37;29 - 00;26;40;20

I think if you're if you're not in-tune

00;26;41;04 - 00;26;47;25

with the money side of your marketing,

you're just kind of

00;26;49;02 - 00;26;50;23

doing things willy nilly and

00;26;50;23 - 00;26;55;16

that can produce results,

but it's not effective, right?

00;26;55;16 - 00;26;58;26

And you have no way to really control

things.

00;27;01;20 - 00;27;02;01

Yeah.

00;27;02;01 - 00;27;06;15

And that's, it's a constant like give

and take because you want to grow

00;27;07;00 - 00;27;10;09

and you know, there's only so much time

you can spend

00;27;11;05 - 00;27;15;12

like crunching numbers, you know,

But if you are able to set up

00;27;15;12 - 00;27;19;08

something simple,

it doesn't have to be like 100% accurate.

00;27;19;16 - 00;27;21;20

I think if you can get very close

00;27;22;00 - 00;27;25;21

to understanding where your monthly is

right and not kill yourself over it.

00;27;25;21 - 00;27;27;18

But but have a good understanding

that here's

00;27;27;18 - 00;27;30;26

here's my monthly spend, here's

how much it's going to take to cover it.

00;27;30;26 - 00;27;36;18

And based on my exit strategy, you know,

whether that's wholesale or rental

00;27;36;18 - 00;27;40;15

or flip, here's here's how many deals

I need to to kind of break even.

00;27;40;15 - 00;27;41;08

Right?

00;27;41;09 - 00;27;45;06

Yeah, some

some kind of idea because is what you want

00;27;46;04 - 00;27;49;23

and and the discipline to be consistent.

00;27;51;07 - 00;27;51;25

Yeah.

00;27;51;25 - 00;27;55;10

And you know

I think we talk a lot about discipline.

00;27;55;28 - 00;27;56;23

I mean

00;27;57;14 - 00;28;00;18

a lot of this business is discipline

and right.

00;28;00;18 - 00;28;04;26

Since there's so many different ways

to get distracted with new shiny ways

00;28;04;26 - 00;28;07;24

to make a make a buck,

00;28;08;00 - 00;28;10;29

having that discipline

to stick with something,

00;28;11;20 - 00;28;14;13

even when you have those months

where, oh, man, I didn't

00;28;14;19 - 00;28;18;25

I didn't get a deal or this,

this thing I tried.

00;28;19;22 - 00;28;21;28

It didn't work out.

00;28;22;14 - 00;28;24;20

Sometimes if you just stick with it,

00;28;24;20 - 00;28;28;10

you'll find that the benefits will come.

00;28;29;17 - 00;28;31;01

Right? Totally.

00;28;31;01 - 00;28;36;05

And to the discipline point, like

there are so many different strategies

00;28;36;05 - 00;28;38;15

in real estate, even amongst your peers,

00;28;38;15 - 00;28;41;12

as you're kind of coming up

and you start realizing,

00;28;42;02 - 00;28;45;20

Man, there's so many things, I think, for

guys that are interested in this business

00;28;45;20 - 00;28;50;22

that seem like maybe they're performing

better than what you were currently doing.

00;28;51;13 - 00;28;56;22

However, like if you're

if you're committed to whatever

00;28;56;23 - 00;28;58;16

niche that you've selected

00;28;58;16 - 00;29;01;11

and you've got like several months

involved, a couple of years,

00;29;01;11 - 00;29;05;06

whatever it is, oftentimes

like I think it makes more sense to

00;29;05;06 - 00;29;08;21

to master it, you know, especially

if you're well on the way, right,

00;29;08;28 - 00;29;12;16

and dive deep

and become really good at it.

00;29;12;23 - 00;29;16;20

And ideally, once you do that

and kind of spend the time,

00;29;16;28 - 00;29;19;24

it'll create the dividends later

where you can explore

00;29;19;25 - 00;29;22;15

more and and or maybe

like at a different asset class.

00;29;23;02 - 00;29;27;19

And I'm sure, you know,

I've had the opportunity again

00;29;27;19 - 00;29;30;28

with, with some of the relationships

that I've had to like

00;29;31;17 - 00;29;35;09

try with industrial property and,

00;29;35;16 - 00;29;40;24

and then some small multifamily stuff

and these things they seem, you know,

00;29;40;24 - 00;29;44;17

you're jumping from single family

residential into this other asset class.

00;29;45;04 - 00;29;47;06

There's

a lot of different nuances, obviously,

00;29;47;06 - 00;29;50;22

and you need to have the right team around

you, but it's achievable.

00;29;50;22 - 00;29;52;14

You know, it's like it's

00;29;52;14 - 00;29;56;14

kind of like the mental constraints

we put on ourselves and the network.

00;29;56;14 - 00;29;59;14

We have to say, Hey,

this is what I'm seeing.

00;29;59;14 - 00;30;02;11

It looks pretty good as a third party,

00;30;03;15 - 00;30;05;14

someone who's on my in my corner.

00;30;05;14 - 00;30;07;10

Could you

could you help me evaluate this? Right.

00;30;07;10 - 00;30;08;00

You know,

00;30;09;03 - 00;30;12;06

so I think that's all that's

all really, really accurate.

00;30;12;06 - 00;30;16;00

And just just sticking to selling for

a while is hard

00;30;16;15 - 00;30;20;25

in this world that we live in now,

even like finishing an email

00;30;20;25 - 00;30;23;06

without getting interrupted

is friggin tough, so

00;30;24;11 - 00;30;25;07

you can't.

00;30;25;07 - 00;30;27;29

But there's there's days

when I think I've said something

00;30;28;09 - 00;30;30;24

and I think what's happened to me

and you? And I'd be like, Dude, I.

00;30;30;26 - 00;30;33;10

I thought I hit that button

and there it is in the window.

00;30;33;10 - 00;30;36;03

It's been there for 8 hours.

I think. I've done that.

00;30;36;07 - 00;30;37;27

Well, yeah, yeah.

00;30;37;27 - 00;30;39;06

I think we all have at this point.

00;30;39;06 - 00;30;42;20

So yeah, I mean, figuring out

ways to, to block some time for,

00;30;43;20 - 00;30;45;22

for, for staying on task, you

00;30;45;22 - 00;30;50;06

know, and, and trying to finish things

that we start is important.

00;30;50;06 - 00;30;50;23

Right.

00;30;51;28 - 00;30;58;06

So one thing I want to talk about with you

is that transition.

00;30;58;06 - 00;31;01;09

I kind of alluded to it

earlier, the transition

00;31;01;09 - 00;31;06;08

from replacing the W2 the job, right.

00;31;06;22 - 00;31;09;18

Getting into the business,

getting paid for it,

00;31;10;10 - 00;31;13;03

and then finding the next step.

00;31;13;03 - 00;31;16;02

And that step being

00;31;16;02 - 00;31;18;28

passive income, filling that,

00;31;19;23 - 00;31;22;04

let's call it bucket to replace

00;31;22;10 - 00;31;25;20

that working income with passive income.

00;31;25;20 - 00;31;29;21

And what is passive income and what are

the different ways that can look like?

00;31;29;21 - 00;31;33;12

And how passive is real estate

income, right?

00;31;33;12 - 00;31;36;22

Because it's not I think most people think

00;31;36;22 - 00;31;40;03

that it's very passive, but it's not quite

as passive as people think it is.

00;31;41;09 - 00;31;42;19

Yeah, totally, man.

00;31;42;19 - 00;31;45;06

So, yeah, great, great call.

00;31;45;06 - 00;31;47;07

And I think that's so important.

00;31;47;07 - 00;31;50;25

And one thing you and I

have talked about again in the past

00;31;50;25 - 00;31;55;27

is just getting clear on what we want,

because if we can't do that,

00;31;56;12 - 00;31;57;02

then we don't.

00;31;57;02 - 00;32;02;21

There's no way we're going to ever achieve

and have kind of a milestone or a bench

00;32;02;21 - 00;32;07;00

post to say like, here's where we're going

and here's now how we get here.

00;32;07;00 - 00;32;09;26

We can come up with an actual plan

for what that looks like.

00;32;10;20 - 00;32;14;16

So to your point, you know,

the first question is like, all right,

00;32;14;16 - 00;32;16;10

I'm in this job,

00;32;16;23 - 00;32;19;09

W-2, job, corporate, whatever it might be.

00;32;19;09 - 00;32;23;15

And if I'm not loving it,

how how do I get out of that job?

00;32;23;15 - 00;32;25;16

Well, you just have to replace

00;32;25;16 - 00;32;27;26

your - Doesn't

even have to be that current income,

00;32;27;26 - 00;32;30;17

but you have to replace your expense,

whatever your expenses are.

00;32;31;04 - 00;32;35;29

So if you spend five grand a month between

rent, gas, groceries, blah blah blah,

00;32;35;29 - 00;32;38;25

figure out a way,

you know, to have a little savings

00;32;38;25 - 00;32;41;11

and then cover that

and then you can take a risk, right?

00;32;41;11 - 00;32;46;01

Or maybe you find a job

that enables you to cover the

00;32;47;03 - 00;32;48;09

next piece, right?

00;32;48;09 - 00;32;50;01

So now that corporate the the,

00;32;50;01 - 00;32;52;26

the day to day expenses are covered

and that bucket is full.

00;32;53;21 - 00;32;56;14

And now you go, okay,

what would it be like?

00;32;56;14 - 00;32;59;12

What would I have to do if I could now

00;32;59;24 - 00;33;04;08

look at those day to day that that bucket

that I'm working 9 to 5 for,

00;33;04;21 - 00;33;08;16

still working in some capacity for like

either yourself or another company

00;33;09;15 - 00;33;13;08

and have that bucket filled up

via real estate investments,

00;33;13;08 - 00;33;17;12

whether that's your own buy

and hold properties, syndications,

00;33;17;26 - 00;33;21;17

you know, different,

all these different channels and avenues.

00;33;21;17 - 00;33;26;03

And to your great point, what is passive,

00;33;26;04 - 00;33;29;13

how many you like, what kind of asset

classes are truly passive?

00;33;29;13 - 00;33;33;16

Well, I mean, I can only speak

from my experience, but,

00;33;33;23 - 00;33;37;04

you know one at one point

I think I had maybe with my partner

00;33;37;04 - 00;33;41;25

and then on my own 20 ish,

you know, 20 to 25 units,

00;33;42;10 - 00;33;45;01

and we went through several

00;33;45;01 - 00;33;48;24

managers, property managers, and,

00;33;49;27 - 00;33;51;08

you know, it was partly our

00;33;51;08 - 00;33;56;01

own issues with like the learning curve

and how to operate in those relationships.

00;33;56;01 - 00;34;01;13

But today I'm down to maybe ten on my own.

00;34;01;13 - 00;34;03;28

And there's,

00;34;04;22 - 00;34;08;02

you know, to the point it's

I don't get like blasted,

00;34;08;02 - 00;34;11;27

but it's definitely several hours

still a week than I'm putting in.

00;34;11;27 - 00;34;14;04

So like, it's not zero is my point. Right?

00;34;15;02 - 00;34;17;06

And in order for you to operate

00;34;17;23 - 00;34;21;13

any business, well,

you want to build the systems around it.

00;34;21;25 - 00;34;23;02

There's always a way to solve it.

00;34;23;02 - 00;34;24;27

Like you can hire a manager,

00;34;24;27 - 00;34;28;24

but then you're you're entrusting

that entire piece to a manager, right?

00;34;28;24 - 00;34;30;26

So, like, as long as that trust is there

00;34;30;26 - 00;34;34;17

and you're somehow keeping track

and still staying responsible,

00;34;34;29 - 00;34;39;04

I think that's the most that was the key

lesson I learned with the manager before.

00;34;39;05 - 00;34;42;13

I was like, I can focus on my flips

and my active income

00;34;42;24 - 00;34;45;11

and Hey manager,

you got the rest like this stuff.

00;34;46;06 - 00;34;49;17

And then I removed my own responsibility

from the equation

00;34;49;17 - 00;34;53;00

and then the next time I looked,

I was like, Dude, what happened here?

00;34;53;00 - 00;34;55;03

Like, the house is crushed.

00;34;55;13 - 00;34;57;26

We got these terrible tenants, it

00;34;58;11 - 00;35;00;29

more like a rehabbing this to resell it.

00;35;00;29 - 00;35;02;29

Like I would like a gut, you know. Yeah.

00;35;03;06 - 00;35;07;08

So sometimes you learn

to learn the hard way and just hope that,

00;35;07;23 - 00;35;08;25

you know, you could stay.

00;35;08;25 - 00;35;13;02

You could stay in business and then

change up quick before it happens again.

00;35;13;02 - 00;35;15;13

Yeah, Yeah. You got to manage the managers

00;35;16;16 - 00;35;18;26

like, people forget that sometimes.

00;35;19;06 - 00;35;19;19

Yeah.

00;35;19;19 - 00;35;20;10

And do

00;35;20;10 - 00;35;21;13

maybe you find a great one

00;35;21;13 - 00;35;25;06

that you don't need to but you got to

watch it for a little while, right?

00;35;25;11 - 00;35;28;14

Yeah. We all hope that's the case. Right?

00;35;28;20 - 00;35;30;28

They're hard to find though.

00;35;30;28 - 00;35;31;17

They are.

00;35;31;17 - 00;35;31;29

They are.

00;35;31;29 - 00;35;33;18

Well, it's a tough business. It's

a very tough business.

00;35;33;18 - 00;35;34;20

Property management.

00;35;34;20 - 00;35;35;21

It's a very tough business.

00;35;35;21 - 00;35;37;13

Yeah, Thin margins.

00;35;37;13 - 00;35;39;26

You kind of have to thin margins.

00;35;39;26 - 00;35;40;08

That's it.

00;35;40;08 - 00;35;44;04

And like, you know, I,

I think about that one personally is like

00;35;44;04 - 00;35;49;01

you kind of have to get to 100 units

before you hire someone

00;35;49;11 - 00;35;52;11

because you're maybe making 8

to 10% of rent.

00;35;52;12 - 00;35;52;27

Right?

00;35;53;04 - 00;35;56;05

And that might be 100 bucks a unit.

00;35;56;23 - 00;35;58;23

So, you know, if

00;35;59;09 - 00;36;01;29

if you're that guy

operating that business,

00;36;02;14 - 00;36;05;22

are you the only guy like,

are you the guy answering all the calls?

00;36;05;22 - 00;36;07;09

Are you the dude?

Do it all the maintenance.

00;36;07;09 - 00;36;09;18

What are you. Yeah. So it's it's tough.

00;36;09;21 - 00;36;10;15

It's a hard one, man.

00;36;10;15 - 00;36;14;29

Yeah,

but with that said, you know, back to our

00;36;15;22 - 00;36;20;15

passive bucket, you know, like,

I think there's you come up with your goal

00;36;20;26 - 00;36;25;05

to, to figure out how much you know what

what monthly income are you looking for.

00;36;25;22 - 00;36;28;23

You figure out an asset class

and for me it was like

00;36;29;09 - 00;36;32;23

just natural to find stuff

that was easy for me to get to

00;36;34;02 - 00;36;35;21

because

I think there's a lot of opportunities

00;36;35;21 - 00;36;39;09

still in and around

where I live in Baltimore and

00;36;40;04 - 00;36;43;20

and then kind of work backwards

from there to say, okay, if it's if I stay

00;36;43;20 - 00;36;47;10

with these single property, single family

properties, how many is it going to take,

00;36;47;29 - 00;36;50;18

you know, at the level

that we're pursuing them?

00;36;51;09 - 00;36;56;09

And, you know,

I think that that goal can change.

00;36;56;09 - 00;37;00;19

And for me, it's gone from like,

I'd rather have fewer

00;37;02;10 - 00;37;05;28

kind of larger assets, you know, condense.

00;37;05;28 - 00;37;09;20

So the same rationale that a lot of people

I was with multifamily

00;37;09;20 - 00;37;13;16

or whatever asset class,

like maybe you want to drop 1 to 2 million

00;37;14;07 - 00;37;16;15

into a multi a small multi family

00;37;16;15 - 00;37;20;11

rather than having seven,

eight or nine single family properties.

00;37;20;11 - 00;37;22;08

And that's definitely becoming

more attractive.

00;37;22;08 - 00;37;24;09

As I'm kind of progressing here.

00;37;24;09 - 00;37;28;29

I feel the same way and I think that ties

in nicely to the overall theme here.

00;37;28;29 - 00;37;31;10

Do more with less.

00;37;31;10 - 00;37;32;05

Exactly right.

00;37;32;05 - 00;37;34;19

Exactly. Me Yeah, yeah. And

00;37;35;17 - 00;37;37;21

just like

anyone who's kind of looked into this,

00;37;37;21 - 00;37;40;06

this isn't new information at all,

but like

00;37;40;28 - 00;37;44;02

small multifamily, you have 20 units.

00;37;44;02 - 00;37;46;22

They're all one bed,

one bath are all laid out the same.

00;37;46;25 - 00;37;50;00

They have one roof,

all have the same exact infrastructure.

00;37;50;10 - 00;37;54;27

20 houses on the other hand, 20

different layouts, 20 different

00;37;55;08 - 00;37;58;20

you like completely different HVAC systems

and like the whole thing Yeah.

00;37;58;23 - 00;38;01;26

So if you're especially

if you're a small business, it's

00;38;01;26 - 00;38;06;01

really nice to have those levels

of understanding and scale

00;38;06;07 - 00;38;10;02

and then go, Hey, we can you know, this,

this is still one building.

00;38;10;02 - 00;38;12;29

It's not 20 buildings,

it's one place, right? Right.

00;38;12;29 - 00;38;15;09

I think that makes a lot of sense

and as I've

00;38;16;09 - 00;38;17;19

I'm kind of in the same boat as you.

00;38;17;19 - 00;38;20;19

I've owned a portfolio of single families

and I've

00;38;20;19 - 00;38;23;22

found that multifamily

00;38;24;22 - 00;38;27;13

owning less of those single buildings

00;38;27;26 - 00;38;32;07

and more units

themselves has been a big change.

00;38;33;12 - 00;38;34;20

Yeah, Yeah.

00;38;34;20 - 00;38;38;03

And frankly,

I need to practice what I preach.

00;38;38;20 - 00;38;42;13

But because I still like, you know,

I've owned a few small multifamily

00;38;42;15 - 00;38;47;15

and it's something it's definitely

a bigger goal for me this year in 23.

00;38;47;23 - 00;38;51;22

And, and one thing that happens

that has happened to me

00;38;51;22 - 00;38;56;29

is like we get so involved and invested

in our in our marketing system

00;38;57;15 - 00;39;00;22

that what shows up easily

and kind of naturally

00;39;00;22 - 00;39;04;04

now is single family property.

00;39;04;04 - 00;39;07;20

So I don't want to abandon that channel,

you know, and I'm

00;39;07;20 - 00;39;09;02

just kind of like thinking out loud

here, like,

00;39;09;02 - 00;39;13;01

I don't want to abandon that

because that's the business I've built.

00;39;13;01 - 00;39;16;15

However, you have like, if,

if I want it to change,

00;39;17;07 - 00;39;21;26

I have to make some changes to the system

because it's built in a way

00;39;22;04 - 00;39;25;04

that right now those things are still real

valuable to me, right?

00;39;25;06 - 00;39;28;19

So I need to have you know, it has to be

very intentional, as is my point, Right?

00;39;28;27 - 00;39;29;22

Yeah, that's a good point.

00;39;31;06 - 00;39;32;14

Yeah, right.

00;39;32;14 - 00;39;35;04

Well, Travis, what are your goals

for the rest of the year?

00;39;35;10 - 00;39;39;15

What do you see yourself doing?

00;39;39;15 - 00;39;44;26

Well,

if we I'm looking to do 12 to 15 flips,

00;39;45;15 - 00;39;50;16

you know, 1-ish

a month is is a good level for me.

00;39;50;16 - 00;39;53;09

And I got there last year.

00;39;53;09 - 00;39;58;20

I think there's still enough

and I kind of the way I operate is houses

00;39;58;20 - 00;40;02;09

that are like generally $350,000

and under as an ARV.

00;40;03;18 - 00;40;07;16

And just for me personally, like in the

construction I do, I think that's safer

00;40;08;11 - 00;40;11;20

for, for kind of the level of finish

and the model that I have.

00;40;12;13 - 00;40;14;20

So that's certainly a goal.

00;40;14;20 - 00;40;18;23

Keep the marketing going

and then this year to the

00;40;18;26 - 00;40;22;17

to the passive bucket,

I want to get that thing a lot more full.

00;40;22;28 - 00;40;26;21

So I am seeking now

and kind of clarifying myself

00;40;26;21 - 00;40;31;01

like what does that look like from a 1

to $2 million asset?

00;40;31;01 - 00;40;34;04

And I'm kind of toying with a different

a few different asset

00;40;34;04 - 00;40;38;01

classes in real estate

multifamily being one of them, and then

00;40;39;02 - 00;40;40;05

the small multifamily.

00;40;40;05 - 00;40;43;10

And then I've actually

just recently started looking at like

00;40;43;10 - 00;40;46;01

small neighborhood centers,

which is kind of a weird

00;40;46;22 - 00;40;48;08

something that not a lot of people

talk about.

00;40;48;08 - 00;40;49;25

Like Shopping centers?

00;40;50;13 - 00;40;54;11

Yeah, sort of like strip malls,

but but say say they're

00;40;54;27 - 00;40;58;13

the way I'm looking at

this is like maybe like 5 to 10

00;40;58;13 - 00;41;02;22

tenant situations that aren't anchored

by like a huge grocery store.

00;41;02;27 - 00;41;05;09

So it would be like,

you know, a liquor store

00;41;05;09 - 00;41;08;29

and a tax accountant

and like a dog groomer or whatever.

00;41;09;13 - 00;41;12;29

But things that whether there's

an economic downturn

00;41;13;04 - 00;41;16;28

or not, haircuts like people are going

to, you know,

00;41;17;13 - 00;41;20;13

and it's something

I've just started learning about

00;41;20;13 - 00;41;24;22

but I'm pretty interested in

because it doesn't seem quite as saturated

00;41;24;22 - 00;41;29;29

and competitive at this very moment,

you know, in comparison

00;41;29;29 - 00;41;32;17

with like multifamily

and and a few, you know,

00;41;32;22 - 00;41;35;02

mobile

home parks have blown up and self-storage.

00;41;35;02 - 00;41;41;15

So anyway, might be something that'll I'll

get into here in the next 6 to 8 months.

00;41;41;28 - 00;41;43;28

Great. Well,

that's that's pretty exciting.

00;41;45;05 - 00;41;47;09

Yeah, I'm pretty, pretty excited

about it, man.

00;41;47;09 - 00;41;49;21

And look, if I don’t life goes on.

00;41;50;05 - 00;41;51;18

Life goes on.

00;41;51;18 - 00;41;53;27

A lot of other different ways to,

00;41;54;20 - 00;41;57;06

you know, expand your business.

00;41;57;06 - 00;41;59;04

Right, right, right.

00;41;59;04 - 00;41;59;16

Yeah.

00;41;59;16 - 00;42;04;13

And dude one other thing on the expansion

I just want to mention,

00;42;04;15 - 00;42;07;27

like it's also okay

to, like, be good with where you are.

00;42;07;27 - 00;42;10;19

Yeah, I would.

00;42;10;25 - 00;42;13;10

And I say that

because I think we all as like

00;42;13;18 - 00;42;17;03

in our culture,

we're like, Oh, well you did 12 last year.

00;42;17;03 - 00;42;18;13

Like, why don't you want to do 20?

00;42;18;13 - 00;42;20;19

Like,

why don't you want to double, like, Well,

00;42;20;23 - 00;42;23;25

because I have three kids

and I've tried to raise a family too

00;42;23;25 - 00;42;25;28

and like not be kicked

out of my household.

00;42;25;28 - 00;42;28;12

It's so important to realize that

00;42;29;12 - 00;42;32;15

you you can't give it all up to work,

00;42;33;24 - 00;42;34;20

right?

00;42;35;01 - 00;42;35;26

I mean, you can.

00;42;35;26 - 00;42;36;19

You certainly can.

00;42;36;19 - 00;42;39;10

But there's there's a cost to that.

00;42;39;19 - 00;42;44;09

And not everyone

has the same sort of situation.

00;42;44;24 - 00;42;47;22

But your something is going to cost you.

00;42;47;22 - 00;42;50;07

There will be something to break along

the way.

00;42;51;16 - 00;42;51;23

Right.

00;42;51;23 - 00;42;57;23

So taking time for yourself, taking time

for your family, recharging, spending,

00;42;58;00 - 00;43;00;24

you know, time on your relationships,

all that stuff is so important.

00;43;00;24 - 00;43;05;11

And I and personally I think

is the most important thing.

00;43;05;11 - 00;43;08;11

So, you know,

I think you've got a great mindset.

00;43;09;20 - 00;43;10;16

Well, I appreciate that.

00;43;10;16 - 00;43;13;03

Yeah. And yeah, that's it. That's easy.

I feel the same way.

00;43;13;04 - 00;43;15;04

Like that's why we started this, right?

00;43;15;04 - 00;43;18;20

You know, that's why we decided

to go into this business so we could

00;43;19;09 - 00;43;22;23

develop freedom and not have to work

till were 60 you know, behind a desk.

00;43;22;23 - 00;43;25;13

Right?

So that's, that's the whole thing for me.

00;43;25;13 - 00;43;29;09

And that's kind of what keeps me grounded

and getting after it,

00;43;29;09 - 00;43;33;18

you know, with the hopes of

of having creating more time freedom.

00;43;33;18 - 00;43;34;20

Yeah. Yeah.

00;43;34;20 - 00;43;36;00

I think it makes a lot of sense.

00;43;36;00 - 00;43;38;03

Well, you're

you're absolutely crushing it.

00;43;38;29 - 00;43;40;27

We appreciate you coming on, Travis.

00;43;40;27 - 00;43;42;22

I value our friendship a lot.

00;43;42;22 - 00;43;45;11

And I'm glad that you're here with us

chatting.

00;43;45;11 - 00;43;50;25

And is there any way that people can reach

out to you if they want to get in touch?

00;43;52;16 - 00;43;53;03

Yeah, man.

00;43;53;03 - 00;43;53;22

Absolutely.

00;43;53;22 - 00;43;56;19

So, first of all,

thank you for having me, Jarred.

00;43;56;19 - 00;43;58;26

It's it's a complete pleasure

to chat with you.

00;43;59;15 - 00;44;01;11

On and offline at any time.

00;44;01;11 - 00;44;02;21

So thank you.

00;44;02;21 - 00;44;07;03

And we can

if anyone's interested in chatting,

00;44;07;18 - 00;44;11;19

I'm on Instagram just @lauchmanRE

00;44;12;04 - 00;44;17;01

and and Facebook

and you know like website.

00;44;17;01 - 00;44;19;14

So hit me up

if you guys have any questions in

00;44;19;29 - 00;44;22;15

around construction or flipping houses

or if there's anything I can do

00;44;22;15 - 00;44;26;07

to help Happy to Happy to chat Travis

we'll put all that stuff in the show notes

00;44;26;07 - 00;44;29;02

for everybody.

And thanks again for coming on.

00;44;29;02 - 00;44;32;04

I look forward to chatting with you again

soon.

00;44;32;04 - 00;44;32;28

My pleasure, man.