Building Wealth as a Community with Matt Jones

1
00:00:00,684 --> 00:00:06,434
[casey_]: hey there and welcome to today's episode
of cash flow pro your daily real estate

2
00:00:06,474 --> 00:00:12,184
[casey_]: investing podcast and you tube channel i'm
here today with mike angelo of ink develop

3
00:00:12,264 --> 00:00:15,960
[casey_]: man group and he is in what
do you say phoenix at what you

4
00:00:15,910 --> 00:00:16,092
[mike_angelo]: living

5
00:00:16,020 --> 00:00:16,120
[casey_]: tell

6
00:00:16,153 --> 00:00:16,397
[mike_angelo]: phoenix

7
00:00:16,161 --> 00:00:16,221
[casey_]: me

8
00:00:16,478 --> 00:00:16,761
[mike_angelo]: yes sir

9
00:00:17,134 --> 00:00:20,379
[casey_]: it's awesome i think everybody lives in
phenix right except for me i don't even

10
00:00:20,439 --> 00:00:24,847
[casey_]: phoenix i wish i did but i
don't know phoenix is a beautiful place and

11
00:00:25,127 --> 00:00:28,633
[casey_]: we are going to be talking today
about the biggest

12
00:00:28,571 --> 00:00:28,734
[mike_angelo]: yes

13
00:00:29,094 --> 00:00:34,002
[casey_]: mistakes that beginners make when investing in
real estate so i had to make sure

14
00:00:34,042 --> 00:00:37,448
[casey_]: i really was awful lame but the
biggest mistakes the beginners make when investing in

15
00:00:37,488 --> 00:00:42,837
[casey_]: real estate and we're going to to
kind of go back as mike protruded to

16
00:00:42,897 --> 00:00:47,565
[casey_]: there in the beginning before i hit
record was the mistakes they're all plentiful with

17
00:00:47,625 --> 00:00:52,793
[casey_]: all of us it's the ones that
we learn from that that make that's the

18
00:00:52,833 --> 00:00:55,280
[casey_]: bin it of mistakes as long as
we take a lesson from him that we

19
00:00:55,340 --> 00:00:59,532
[casey_]: don't necessarily repeat so anyway mike welcome
sir how are you today

20
00:01:00,050 --> 00:01:02,296
[mike_angelo]: doing fantastic case thank you so much
for having me on the show

21
00:01:02,164 --> 00:01:02,512
[casey_]: oh

22
00:01:02,437 --> 00:01:06,248
[mike_angelo]: super honored to be on it and
yeah lookin forward to talking about mistakes

23
00:01:06,924 --> 00:01:12,273
[casey_]: absolutely man and and and again it's
it's i've always said that well i've always

24
00:01:12,313 --> 00:01:15,959
[casey_]: said i haven't always it's it's an
old saying that i've heard that once you

25
00:01:16,059 --> 00:01:21,608
[casey_]: admit the mistake and once you profess
the mistake that then people end that's how

26
00:01:21,708 --> 00:01:25,415
[casey_]: people build like they build grace for
you they they're like okay hey you know

27
00:01:25,715 --> 00:01:30,263
[casey_]: he screwed up but he's admitted it
he's fixed it and we're going forward and

28
00:01:30,323 --> 00:01:34,129
[casey_]: then and you know you kind of
get that get that feeling when when talking

29
00:01:34,189 --> 00:01:37,915
[casey_]: about mistakes anyway so why don't you
tell us a little bit about yourself where

30
00:01:37,955 --> 00:01:42,062
[casey_]: you come from what got you started
in real estate and then we will kind

31
00:01:42,102 --> 00:01:46,359
[casey_]: of tackle you first deal and the
mistakes and things that went along with that

32
00:01:46,399 --> 00:01:47,021
[casey_]: and we'll go from there

33
00:01:47,640 --> 00:01:49,483
[mike_angelo]: absolutely man again thanks for having me
so

34
00:01:49,445 --> 00:01:49,609
[casey_]: sure

35
00:01:49,643 --> 00:01:53,870
[mike_angelo]: i spent i've been in this business
now for basically january twenty twenty so two

36
00:01:53,910 --> 00:01:58,117
[mike_angelo]: and a half years giver take been
a full time real estate indicator in investment

37
00:01:58,157 --> 00:02:02,965
[mike_angelo]: company prior to that had about twenty
years in the construction supply space so if

38
00:02:03,005 --> 00:02:07,914
[mike_angelo]: you think of large commercial projects from
highways to office buildings to hospitals our company

39
00:02:08,074 --> 00:02:13,133
[mike_angelo]: sold products to them my role was
in leadership so executive management for the last

40
00:02:13,233 --> 00:02:16,138
[mike_angelo]: few years but i was all the
way from the beginning days where i was

41
00:02:16,178 --> 00:02:20,304
[mike_angelo]: the counter guy you walked in and
you bought stuff from to executive v p

42
00:02:20,465 --> 00:02:24,812
[mike_angelo]: at the end of my twenty year
career and why i love working with contractors

43
00:02:24,852 --> 00:02:28,358
[mike_angelo]: and learning that whole process i figured
out pretty quickly the higher i went up

44
00:02:28,418 --> 00:02:31,744
[mike_angelo]: in the chain the more i worked
yes i made more money but i didn't

45
00:02:31,764 --> 00:02:35,810
[mike_angelo]: have time to spend it with my
family and that was really physically and mentally

46
00:02:35,850 --> 00:02:37,874
[mike_angelo]: draining so about the last

47
00:02:37,875 --> 00:02:38,078
[casey_]: i can

48
00:02:37,974 --> 00:02:38,094
[mike_angelo]: six

49
00:02:38,119 --> 00:02:38,525
[casey_]: imagine

50
00:02:38,194 --> 00:02:42,441
[mike_angelo]: months of yeah the last six months
of twenty nineteen i was like i had

51
00:02:42,481 --> 00:02:44,805
[mike_angelo]: to go i had to go to
a cardiologist because i was having chest pain

52
00:02:44,845 --> 00:02:48,291
[mike_angelo]: and things like that and he was
like an i could put you on medicine

53
00:02:48,472 --> 00:02:50,556
[mike_angelo]: or you know tell me about your
job so i told him about what i

54
00:02:50,616 --> 00:02:52,590
[mike_angelo]: did and he said you should get
a new job i

55
00:02:52,654 --> 00:02:54,964
[casey_]: yeah

56
00:02:52,670 --> 00:02:56,016
[mike_angelo]: said wowat'sthat's pretty good advice do right
and

57
00:02:56,088 --> 00:02:56,289
[casey_]: yeah

58
00:02:56,516 --> 00:03:00,303
[mike_angelo]: and funny thing like the writing was
on the wall some changes were happening with

59
00:03:00,363 --> 00:03:05,071
[mike_angelo]: our company and i actually got laid
off in november nineteenth and it was the

60
00:03:05,111 --> 00:03:09,598
[mike_angelo]: best day actually i got fired i
knew it was coming and i had been

61
00:03:09,618 --> 00:03:13,485
[mike_angelo]: listening to dave ramsey for many years
so we had we had that emergency fund

62
00:03:14,006 --> 00:03:17,752
[mike_angelo]: lined up and went home to my
wife she was like okay what you do

63
00:03:17,792 --> 00:03:19,795
[mike_angelo]: now so i have no idea but
i gonna take the month of december to

64
00:03:19,836 --> 00:03:23,842
[mike_angelo]: figure it out and on the six
months journey as i was trying to figure

65
00:03:23,882 --> 00:03:27,869
[mike_angelo]: out the exit plan i had been
listening to tons of podcasts on real estate

66
00:03:28,430 --> 00:03:33,081
[mike_angelo]: specifically multi family and it just completely
blew me away that you know a guy

67
00:03:33,161 --> 00:03:37,401
[mike_angelo]: like me with a few other people
could go buy a large apartment building my

68
00:03:37,541 --> 00:03:41,510
[mike_angelo]: my real estate experience was doing some
flips in two thousand seven and eight and

69
00:03:41,630 --> 00:03:43,896
[mike_angelo]: if you remember two thousand seven and
eight it was probably the wrong time to

70
00:03:43,916 --> 00:03:47,785
[mike_angelo]: do flips and so i got pretty
crushed on that and that was my real

71
00:03:47,806 --> 00:03:48,908
[mike_angelo]: estate experience to be honest with you

72
00:03:49,654 --> 00:03:49,815
[casey_]: oh

73
00:03:49,661 --> 00:03:51,702
[mike_angelo]: made a ton of mistakes about that
too oh

74
00:03:51,604 --> 00:03:52,386
[casey_]: sure sure

75
00:03:52,430 --> 00:03:52,574
[mike_angelo]: yeah

76
00:03:52,486 --> 00:03:56,873
[casey_]: yeah and it's it's such a i
mean you know basically everything that you you

77
00:03:56,933 --> 00:04:05,495
[casey_]: talk about there um because we seem
to be the industry the cleans up the

78
00:04:05,575 --> 00:04:06,998
[casey_]: post of w to world

79
00:04:07,560 --> 00:04:07,761
[mike_angelo]: yeah

80
00:04:07,779 --> 00:04:11,004
[casey_]: if you will and i'm not sure
that your last job was w two necessarily

81
00:04:11,064 --> 00:04:14,991
[casey_]: but but we seem to be it's
the industry that kind of picks up the

82
00:04:15,031 --> 00:04:17,335
[casey_]: people that are like hey i just
don't want to what i'm doing any more

83
00:04:17,495 --> 00:04:20,159
[casey_]: i'm going to do real estate in
some capacity right

84
00:04:20,161 --> 00:04:20,284
[mike_angelo]: yeah

85
00:04:20,881 --> 00:04:20,981
[casey_]: and

86
00:04:20,910 --> 00:04:21,780
[mike_angelo]: yeah

87
00:04:21,061 --> 00:04:24,787
[casey_]: so when you find out so so
with all of that history in your back

88
00:04:25,108 --> 00:04:28,594
[casey_]: your back story there why don't you
tell us a little bit about so twenty

89
00:04:28,694 --> 00:04:34,824
[casey_]: twenty obviously we all have a very
memorable twenty twenty m a lot of extra

90
00:04:34,864 --> 00:04:38,630
[casey_]: time spent with kids a lot of
extra time spent doing third grade home work

91
00:04:39,510 --> 00:04:39,917
[mike_angelo]: uh

92
00:04:39,832 --> 00:04:41,836
[casey_]: and reading cetera et cetera

93
00:04:41,449 --> 00:04:41,571
[mike_angelo]: yeah

94
00:04:42,356 --> 00:04:49,248
[casey_]: and possibly contemplating at least putting the
kids up for adoption in those three

95
00:04:49,140 --> 00:04:49,448
[mike_angelo]: yeah

96
00:04:49,308 --> 00:04:53,976
[casey_]: years not to not i like that
but it was tough so let's go back

97
00:04:54,016 --> 00:04:57,884
[casey_]: to twenty twenty and let's talk about
your first deal your

98
00:04:57,840 --> 00:04:58,710
[mike_angelo]: yeah

99
00:04:57,984 --> 00:05:02,092
[casey_]: first deal and i'd like to first
off kind of start with a where you

100
00:05:02,172 --> 00:05:02,512
[casey_]: found it

101
00:05:03,232 --> 00:05:03,315
[mike_angelo]: ah

102
00:05:03,737 --> 00:05:10,335
[casey_]: and be what that looked like like
where you found it what it looked like

103
00:05:10,556 --> 00:05:11,580
[casey_]: and how did you take it down

104
00:05:12,710 --> 00:05:15,154
[mike_angelo]: so this is the deal we actually
closed right focus on that because

105
00:05:15,055 --> 00:05:15,239
[casey_]: yeah

106
00:05:15,174 --> 00:05:18,861
[mike_angelo]: there as thousands of other ones i
didn't get but so the first deal we

107
00:05:18,961 --> 00:05:23,309
[mike_angelo]: got put an offer in i think
in like june or july of twenty twenty

108
00:05:23,990 --> 00:05:24,010
[mike_angelo]: i

109
00:05:24,064 --> 00:05:24,844
[casey_]: yeah

110
00:05:24,110 --> 00:05:28,697
[mike_angelo]: got it accepted in like august is
some negotiation i found it randomly because we

111
00:05:28,758 --> 00:05:33,105
[mike_angelo]: were so based in arizona the market
here in phoenixes was so hot i was

112
00:05:33,165 --> 00:05:36,771
[mike_angelo]: just getting killed wasn't finding any deal
so i went to new ico and i

113
00:05:36,832 --> 00:05:39,939
[mike_angelo]: was traveling here from my old life
so i was familiar with it and albakirki

114
00:05:39,999 --> 00:05:42,705
[mike_angelo]: was where we were really focused on
and there's a small city south of it

115
00:05:42,785 --> 00:05:45,892
[mike_angelo]: called lascusis new mexico three hours south
beautiful

116
00:05:45,924 --> 00:05:46,066
[casey_]: yep

117
00:05:45,932 --> 00:05:46,332
[mike_angelo]: little city

118
00:05:46,704 --> 00:05:46,724
[casey_]: i

119
00:05:46,753 --> 00:05:46,994
[mike_angelo]: wasn't

120
00:05:46,804 --> 00:05:47,287
[casey_]: know exactly

121
00:05:47,094 --> 00:05:47,334
[mike_angelo]: really

122
00:05:47,327 --> 00:05:47,447
[casey_]: where

123
00:05:47,434 --> 00:05:47,735
[mike_angelo]: looking

124
00:05:47,508 --> 00:05:48,271
[casey_]: locisusays

125
00:05:48,135 --> 00:05:52,523
[mike_angelo]: yeah wasn't really looking for that particular
deal that i found a rex of all

126
00:05:52,583 --> 00:05:55,608
[mike_angelo]: places but i was looking for the
broker because i wanted to call the broker

127
00:05:55,648 --> 00:05:57,892
[mike_angelo]: and build a relationship with him i
said hey man this is what i'm doing

128
00:05:57,912 --> 00:06:01,037
[mike_angelo]: we're looking for you know this size
of the units about fifty plus what do

129
00:06:01,077 --> 00:06:02,319
[mike_angelo]: you have and he's like well

130
00:06:02,224 --> 00:06:02,914
[casey_]: yeah

131
00:06:02,379 --> 00:06:05,524
[mike_angelo]: i have this deal is just getting
ready to hit the market you know take

132
00:06:05,544 --> 00:06:07,508
[mike_angelo]: a look at it so he sent
me financials and i looked at and i

133
00:06:07,528 --> 00:06:11,463
[mike_angelo]: was like it doesn't look like a
deal but i really wasn't genuinely that interested

134
00:06:11,523 --> 00:06:13,747
[mike_angelo]: and i just wanted to get to
now ther guy and hopefully he had something

135
00:06:13,787 --> 00:06:17,212
[mike_angelo]: better for me and my education company
that i signed up for said get the

136
00:06:17,252 --> 00:06:20,398
[mike_angelo]: pocket listing get the off market stuff
and this was about to hit the market

137
00:06:20,899 --> 00:06:24,001
[mike_angelo]: so i was like maybe not a
good deal anyway i kind of parked it

138
00:06:24,041 --> 00:06:26,706
[mike_angelo]: to be honest we ve worked on
a bunch of other stuff and those things

139
00:06:26,726 --> 00:06:29,570
[mike_angelo]: didn't work out came back to it
said hey we really are interested in this

140
00:06:29,611 --> 00:06:31,734
[mike_angelo]: can we take it down what what
do we need to do is it's still

141
00:06:31,774 --> 00:06:36,301
[mike_angelo]: viable and negotiated and got it under
contract didn't close until may of twenty one

142
00:06:36,781 --> 00:06:40,144
[mike_angelo]: so there was about like almost a
six month seven month gap between getting it

143
00:06:40,344 --> 00:06:43,947
[mike_angelo]: kind of started to finishing and that
was just because we we went and did

144
00:06:43,987 --> 00:06:47,932
[mike_angelo]: something else for a while and then
came back to it so that deal has

145
00:06:48,012 --> 00:06:54,883
[mike_angelo]: been our flagship prior to sixty unit
complex beautiful locations cash blowing really really well

146
00:06:55,324 --> 00:06:58,790
[mike_angelo]: our first investors so we did the
hole thing we sourced it we raise the

147
00:06:58,830 --> 00:07:02,175
[mike_angelo]: money we did find a k p
to help us sign on the note but

148
00:07:02,256 --> 00:07:05,160
[mike_angelo]: we did you know ninety per cent
of work and it was was a fantastic

149
00:07:05,180 --> 00:07:09,848
[mike_angelo]: deal transaction went really well everything else
after that has been different and challenging so

150
00:07:09,928 --> 00:07:10,369
[mike_angelo]: we were a little

151
00:07:10,405 --> 00:07:10,609
[casey_]: sure

152
00:07:10,409 --> 00:07:11,295
[mike_angelo]: spoiled that first one

153
00:07:11,865 --> 00:07:12,005
[casey_]: well

154
00:07:11,961 --> 00:07:12,062
[mike_angelo]: it

155
00:07:12,146 --> 00:07:13,751
[casey_]: how much how much was the race

156
00:07:14,320 --> 00:07:16,323
[mike_angelo]: it was one point eight million so
it was about it was a

157
00:07:16,365 --> 00:07:16,385
[casey_]: o

158
00:07:16,404 --> 00:07:19,009
[mike_angelo]: four and a half million dollar pat
yeah one point eight

159
00:07:19,054 --> 00:07:22,931
[casey_]: yeah man that's big for your first
one

160
00:07:24,321 --> 00:07:24,781
[mike_angelo]: yes so

161
00:07:24,875 --> 00:07:25,178
[casey_]: um

162
00:07:24,882 --> 00:07:26,003
[mike_angelo]: we friends and family

163
00:07:25,783 --> 00:07:25,804
[casey_]: m

164
00:07:26,044 --> 00:07:28,828
[mike_angelo]: and a couple of new investors that
we you know we spent almost a year

165
00:07:29,449 --> 00:07:30,651
[mike_angelo]: planting seeds and

166
00:07:31,684 --> 00:07:31,906
[casey_]: sure

167
00:07:32,194 --> 00:07:32,334
[mike_angelo]: that

168
00:07:32,349 --> 00:07:32,530
[casey_]: sure

169
00:07:32,394 --> 00:07:36,240
[mike_angelo]: took a while but people don't always
people want to track record they want to

170
00:07:36,280 --> 00:07:39,465
[mike_angelo]: know that you've done this before so
even though we had people that really liked

171
00:07:39,566 --> 00:07:42,771
[mike_angelo]: us they weren't sure if they liked
is enough to give us fifty or undrgrand

172
00:07:43,532 --> 00:07:43,672
[mike_angelo]: and

173
00:07:43,826 --> 00:07:44,010
[casey_]: right

174
00:07:44,294 --> 00:07:48,442
[mike_angelo]: and so it took it took the
sign on the note his credibility bio that

175
00:07:48,482 --> 00:07:52,113
[mike_angelo]: we leaned heavy on and i said
hey you know me from business experience i

176
00:07:52,213 --> 00:07:55,860
[mike_angelo]: have twenty years of business experience real
estate is different but we have a partner

177
00:07:56,280 --> 00:08:00,548
[mike_angelo]: and this is his role and that
helped kind of again sell the package right

178
00:08:00,568 --> 00:08:01,049
[mike_angelo]: the investment

179
00:08:01,224 --> 00:08:05,416
[casey_]: sure now where did you find the
individual investors to even give the pitch to

180
00:08:05,958 --> 00:08:07,262
[casey_]: were they friends and family all

181
00:08:07,130 --> 00:08:10,215
[mike_angelo]: friends and family and refers from friends
and family yeah i mean we had my

182
00:08:10,295 --> 00:08:14,221
[mike_angelo]: partner and i michael we we focused
on you know our kind of core fifty

183
00:08:14,522 --> 00:08:17,647
[mike_angelo]: which you know the fifty were like
i'm in and then when we went to

184
00:08:17,707 --> 00:08:20,331
[mike_angelo]: go hey it's ready to go we
had about twelve we had to end up

185
00:08:20,371 --> 00:08:23,595
[mike_angelo]: having like sixteen investors total so it
was good we had a couple of big

186
00:08:23,675 --> 00:08:26,178
[mike_angelo]: ones and then you know a couple
o small ones and that helped

187
00:08:26,094 --> 00:08:26,336
[casey_]: sure

188
00:08:26,238 --> 00:08:26,698
[mike_angelo]: us get it across

189
00:08:26,698 --> 00:08:26,920
[casey_]: sure

190
00:08:26,718 --> 00:08:27,199
[mike_angelo]: the finish line

191
00:08:27,924 --> 00:08:32,131
[casey_]: that's great man all right so let's
talk real quick about mistakes made along the

192
00:08:32,191 --> 00:08:32,351
[casey_]: way

193
00:08:32,701 --> 00:08:32,823
[mike_angelo]: it

194
00:08:33,193 --> 00:08:38,722
[casey_]: um things that maybe didn't quite go
as planned and what you did to mitigate

195
00:08:38,782 --> 00:08:39,847
[casey_]: those as they can up

196
00:08:40,640 --> 00:08:44,266
[mike_angelo]: perfect i want to speak of the
mistakes i made prior to that because that's

197
00:08:44,254 --> 00:08:44,416
[casey_]: okay

198
00:08:44,326 --> 00:08:47,050
[mike_angelo]: the deal we got done we actually
had three other deals that we had offers

199
00:08:47,110 --> 00:08:51,017
[mike_angelo]: accepted on and where and and i
spent my i didn't have i don't have

200
00:08:51,057 --> 00:08:54,431
[mike_angelo]: enough i didn't have enough capital at
the time a zero experience so all i

201
00:08:54,491 --> 00:08:57,565
[mike_angelo]: did was under right i underwrote deals
i tried to find him and i tried

202
00:08:57,605 --> 00:09:00,915
[mike_angelo]: to find partners that would help me
get the deal done right the g p

203
00:09:01,076 --> 00:09:04,503
[mike_angelo]: s that would sign on the note
i found one and i thought he was

204
00:09:04,583 --> 00:09:09,330
[mike_angelo]: good and i didn't fed him enough
and he bailed on me twice so the

205
00:09:09,370 --> 00:09:13,033
[mike_angelo]: mistake i made was not spending enough
energy i should have shifted my energy from

206
00:09:13,194 --> 00:09:16,496
[mike_angelo]: underwriting to really securing who is going
to be on our team that we're married

207
00:09:16,556 --> 00:09:21,772
[mike_angelo]: to for five years i definitely didn't
do that the only reason we got into

208
00:09:22,133 --> 00:09:25,058
[mike_angelo]: the deal that we did close was
i had to kind of reach out and

209
00:09:25,438 --> 00:09:31,268
[mike_angelo]: found this operator that isn't or network
very vetidatnetwork but it took me a minute

210
00:09:31,328 --> 00:09:33,319
[mike_angelo]: to go around and figure that out
like he's the guy

211
00:09:33,275 --> 00:09:33,375
[casey_]: so

212
00:09:33,359 --> 00:09:33,460
[mike_angelo]: that

213
00:09:33,455 --> 00:09:33,555
[casey_]: the

214
00:09:33,481 --> 00:09:33,642
[mike_angelo]: need to

215
00:09:33,615 --> 00:09:33,635
[casey_]: k

216
00:09:33,682 --> 00:09:33,904
[mike_angelo]: be on her

217
00:09:33,916 --> 00:09:33,936
[casey_]: p

218
00:09:33,944 --> 00:09:34,146
[mike_angelo]: teeth

219
00:09:34,277 --> 00:09:36,362
[casey_]: on the first one is who you're
talking about bailed

220
00:09:36,380 --> 00:09:36,525
[mike_angelo]: yeah

221
00:09:37,084 --> 00:09:37,205
[casey_]: then

222
00:09:37,250 --> 00:09:37,450
[mike_angelo]: first

223
00:09:37,265 --> 00:09:37,749
[casey_]: came back

224
00:09:37,550 --> 00:09:37,711
[mike_angelo]: yeah

225
00:09:38,233 --> 00:09:38,475
[casey_]: and then

226
00:09:38,432 --> 00:09:38,532
[mike_angelo]: now

227
00:09:38,516 --> 00:09:38,979
[casey_]: bailed again

228
00:09:39,273 --> 00:09:42,018
[mike_angelo]: he bailed twice he built twice on
me and he was like yeah i'll do

229
00:09:42,038 --> 00:09:43,000
[mike_angelo]: it basically he was busy

230
00:09:42,844 --> 00:09:43,046
[casey_]: yeah

231
00:09:43,140 --> 00:09:46,546
[mike_angelo]: like i live in i live in
chicago and i'll do whatever deals you want

232
00:09:46,586 --> 00:09:49,773
[mike_angelo]: and i was doing his work for
him he just was like hey i got

233
00:09:49,873 --> 00:09:53,033
[mike_angelo]: i'm like hey i got this offer
accept and he's like yeah man sorry i

234
00:09:53,073 --> 00:09:56,933
[mike_angelo]: can't i can't do it on my
so all my eggs in that basket right

235
00:09:56,993 --> 00:09:57,775
[mike_angelo]: because how am i going to

236
00:09:57,776 --> 00:09:57,978
[casey_]: sure

237
00:09:57,815 --> 00:10:01,882
[mike_angelo]: go move forward so that happened to
me twice that was a big learning mistake

238
00:10:01,922 --> 00:10:05,067
[mike_angelo]: and i was like hey let me
let me just forget everything else and focus

239
00:10:05,147 --> 00:10:08,632
[mike_angelo]: on the team now s kind of
message here is focus on the team first

240
00:10:09,192 --> 00:10:12,415
[mike_angelo]: make sure you can do that before
you go out and go find deals because

241
00:10:12,796 --> 00:10:12,916
[mike_angelo]: here

242
00:10:12,844 --> 00:10:13,026
[casey_]: oh

243
00:10:12,956 --> 00:10:15,579
[mike_angelo]: is the problem now i have to
go to the broker and go sorry just

244
00:10:15,639 --> 00:10:17,041
[mike_angelo]: kidding i can't

245
00:10:16,894 --> 00:10:17,175
[casey_]: oh

246
00:10:17,202 --> 00:10:18,104
[mike_angelo]: i can't pull through so

247
00:10:18,343 --> 00:10:18,424
[casey_]: yeah

248
00:10:18,846 --> 00:10:21,694
[mike_angelo]: it worked out where our offer i
just didn't raise our offer enough and so

249
00:10:21,754 --> 00:10:25,524
[mike_angelo]: we lost were like in fourth place
right ut you know i'm putting this out

250
00:10:25,564 --> 00:10:28,612
[mike_angelo]: there now it was just that was
ridiculous like i can't believe i did that

251
00:10:28,732 --> 00:10:31,018
[mike_angelo]: super unprofessional but i didn't know any
better you know

252
00:10:32,004 --> 00:10:34,628
[casey_]: but you got to make mistakes to
learn to know better i mean you

253
00:10:34,581 --> 00:10:34,764
[mike_angelo]: that's

254
00:10:34,648 --> 00:10:34,769
[casey_]: know

255
00:10:34,866 --> 00:10:35,029
[mike_angelo]: right

256
00:10:35,910 --> 00:10:43,022
[casey_]: it's it's it's it's a learning curve
and unfortunately sometimes it costs us and even

257
00:10:43,102 --> 00:10:47,630
[casey_]: if that cost us monetary necessarily it
could be in pride or or something of

258
00:10:47,690 --> 00:10:52,057
[casey_]: the something of the sort but um
all right so so betting and focusing on

259
00:10:52,097 --> 00:10:55,142
[casey_]: the team and i'll tell you what
i had a lady on my show recently

260
00:10:56,024 --> 00:11:00,692
[casey_]: and this i have actually had actually
heard this a long time ago and i

261
00:11:01,032 --> 00:11:05,440
[casey_]: heard along the way and she just
solidified it she's a she was an attorney

262
00:11:05,560 --> 00:11:12,565
[casey_]: she was a immigration attorney also in
business but her big her big passion was

263
00:11:12,685 --> 00:11:17,451
[casey_]: passive investing right so she was passive
investor in these deals and the question arose

264
00:11:17,531 --> 00:11:22,617
[casey_]: i said okay what do you look
for when you start to look at a

265
00:11:22,718 --> 00:11:25,723
[casey_]: deal to decide whether or not you're
going to invest and she said i'm going

266
00:11:25,743 --> 00:11:29,609
[casey_]: to give you the worst answer ever
and i'm thinking all right well worst answer

267
00:11:29,689 --> 00:11:34,477
[casey_]: ever i've had those but let's see
what she's got right and so the worst

268
00:11:34,557 --> 00:11:40,147
[casey_]: answer ever ended up being she goes
with her gut like she just and i've

269
00:11:40,247 --> 00:11:43,753
[casey_]: heard this before in master minds that
i'm in where you could stand up there

270
00:11:43,773 --> 00:11:49,566
[casey_]: and you could at r r s
a r rs cash on cash every other

271
00:11:49,887 --> 00:11:56,801
[casey_]: figure or number or metric you want
to present but when it comes down to

272
00:11:57,783 --> 00:12:01,671
[casey_]: where the rubber meets the road people
want to know that they can trust you

273
00:12:01,791 --> 00:12:06,820
[casey_]: with their money period right the return
is almost secondary

274
00:12:07,380 --> 00:12:09,531
[mike_angelo]: yeah it's so true

275
00:12:09,418 --> 00:12:12,020
[casey_]: and well i say all

276
00:12:12,091 --> 00:12:12,192
[mike_angelo]: oh

277
00:12:12,100 --> 00:12:17,968
[casey_]: of that to kind of bring us
back to what you're saying about focusing on

278
00:12:18,188 --> 00:12:19,150
[casey_]: the things that matter

279
00:12:19,211 --> 00:12:19,374
[mike_angelo]: yeah

280
00:12:19,290 --> 00:12:27,343
[casey_]: rather than you were focused on the
numbers the irrsarrsahon ash underwriting all that while

281
00:12:27,564 --> 00:12:32,599
[casey_]: is important and it's important to understand
that in order to put together a business

282
00:12:32,699 --> 00:12:37,979
[casey_]: plan you have to be focused on
building that team too i mean you have

283
00:12:38,019 --> 00:12:41,124
[casey_]: to be focused on building that trust
and that trust comes through you and your

284
00:12:41,184 --> 00:12:45,692
[casey_]: team and everybody else that that you
kind of put together there and so

285
00:12:46,142 --> 00:12:46,327
[mike_angelo]: oh

286
00:12:47,074 --> 00:12:51,040
[casey_]: that's interesting now so you go out
and you find a k p where did

287
00:12:51,080 --> 00:12:55,407
[casey_]: you find him at k p let
me back up k p k principal key

288
00:12:55,488 --> 00:13:00,718
[casey_]: partner whatever you want to call it
is basically then the loan signer the person

289
00:13:00,778 --> 00:13:05,210
[casey_]: that takes his balance sheet to the
bank and says hey i'm worth this loan

290
00:13:05,350 --> 00:13:05,892
[casey_]: us this

291
00:13:06,450 --> 00:13:07,271
[mike_angelo]: yeah exactly

292
00:13:07,247 --> 00:13:07,570
[casey_]: go ahead

293
00:13:08,053 --> 00:13:08,694
[mike_angelo]: very blessed to

294
00:13:09,244 --> 00:13:09,874
[casey_]: yeah

295
00:13:09,355 --> 00:13:13,482
[mike_angelo]: so i did sign it for an
education company that teaches you this kind of

296
00:13:13,502 --> 00:13:15,164
[mike_angelo]: stuff for it multi family and so

297
00:13:15,269 --> 00:13:15,784
[casey_]: hm

298
00:13:15,565 --> 00:13:18,169
[mike_angelo]: spent the first few months working with
them and that was part of their pitcher

299
00:13:18,290 --> 00:13:21,114
[mike_angelo]: hey come in we'll help you find
a sponsor we'll do all the stuff and

300
00:13:21,154 --> 00:13:22,717
[mike_angelo]: most of that is fairly nonsense because

301
00:13:22,684 --> 00:13:23,026
[casey_]: oh

302
00:13:23,118 --> 00:13:24,300
[mike_angelo]: their deal criteria that

303
00:13:24,224 --> 00:13:24,305
[casey_]: ah

304
00:13:24,340 --> 00:13:29,528
[mike_angelo]: they want is like impossible to find
and so but that person was in that

305
00:13:29,588 --> 00:13:32,974
[mike_angelo]: network and through my partner who had
a relationship with them he said hey we

306
00:13:33,014 --> 00:13:36,760
[mike_angelo]: have this deal sponsor kind of fell
through you would you be available so spent

307
00:13:36,821 --> 00:13:38,964
[mike_angelo]: time with him got to know him
and he said yeah this is this looks

308
00:13:39,044 --> 00:13:43,581
[mike_angelo]: solid you know i'll support you guys
and so he partnered with son you know

309
00:13:43,701 --> 00:13:46,506
[mike_angelo]: signed on the note we all signed
the note but ours didn't mean as much

310
00:13:46,567 --> 00:13:47,609
[mike_angelo]: as his and

311
00:13:47,836 --> 00:13:48,001
[casey_]: right

312
00:13:48,390 --> 00:13:53,240
[mike_angelo]: and so that that's what got us
the deal done without that network connection it

313
00:13:53,280 --> 00:13:54,485
[mike_angelo]: wouldn't have happened right

314
00:13:55,136 --> 00:13:55,300
[casey_]: sure

315
00:13:55,630 --> 00:13:56,514
[mike_angelo]: so yeah that was a key

316
00:13:56,886 --> 00:13:58,618
[casey_]: and how many other partners was there

317
00:13:59,542 --> 00:14:02,337
[mike_angelo]: total of three so myself this gentleman
and and my partner

318
00:14:02,954 --> 00:14:03,155
[casey_]: okay

319
00:14:03,272 --> 00:14:03,373
[mike_angelo]: just

320
00:14:03,377 --> 00:14:03,579
[casey_]: got

321
00:14:03,434 --> 00:14:03,859
[mike_angelo]: total three

322
00:14:04,694 --> 00:14:08,480
[casey_]: got ya and so it's funny that
all of this is kind of happening out

323
00:14:08,540 --> 00:14:13,288
[casey_]: of the spotlight of the market you
know off market deal um you get kicked

324
00:14:13,649 --> 00:14:17,255
[casey_]: down first you stand back up then
you get kicked dow again then you stand

325
00:14:17,315 --> 00:14:20,721
[casey_]: back up and then you're like all
right and then finally i guess i guess

326
00:14:20,801 --> 00:14:24,167
[casey_]: the universe was just like all right
we're going to let mike have a pass

327
00:14:24,287 --> 00:14:29,515
[casey_]: and he's going to take this deal
down and then what all of those mistakes

328
00:14:29,616 --> 00:14:33,402
[casey_]: that were made um highlight the

329
00:14:33,363 --> 00:14:33,528
[mike_angelo]: like

330
00:14:33,462 --> 00:14:39,011
[casey_]: most valuable lesson you learned after you
know you said you focused on the team

331
00:14:39,071 --> 00:14:41,366
[casey_]: but there had to be some other
lesson that came along there

332
00:14:42,490 --> 00:14:47,499
[mike_angelo]: i mean yeah there's mistakes the re
just lessons learned right so yeah definitely team

333
00:14:48,200 --> 00:14:52,166
[mike_angelo]: being one i think we were fairly
blessed that i do have some o c

334
00:14:52,307 --> 00:14:55,752
[mike_angelo]: d skills are being organized to make
sure all the steps are in place so

335
00:14:55,833 --> 00:15:00,921
[mike_angelo]: we had a portal we had investors
so all that went relatively smooth the one

336
00:15:00,941 --> 00:15:04,207
[mike_angelo]: thing we couldn't control is all the
lender components right we didn't really know what

337
00:15:04,247 --> 00:15:09,660
[mike_angelo]: the lender was asking for an set
in good expectation so everyone is now trying

338
00:15:09,700 --> 00:15:14,902
[mike_angelo]: to satisfy a property management company they're
looking for take over first deal was so

339
00:15:15,102 --> 00:15:18,528
[mike_angelo]: great from all the things that came
at us and as i tried to digest

340
00:15:18,608 --> 00:15:22,735
[mike_angelo]: it back i think setting good investor
expectations of hey if you get a hundred

341
00:15:22,815 --> 00:15:26,605
[mike_angelo]: people to tell you they're in the
reality is probably twenty or less are going

342
00:15:26,685 --> 00:15:27,227
[mike_angelo]: actually commit

343
00:15:28,014 --> 00:15:28,177
[casey_]: that's

344
00:15:28,040 --> 00:15:28,140
[mike_angelo]: so

345
00:15:28,259 --> 00:15:28,463
[casey_]: right

346
00:15:28,621 --> 00:15:31,185
[mike_angelo]: when we went out and raised i'm
like hey i have i can go raise

347
00:15:31,265 --> 00:15:34,470
[mike_angelo]: five million dollars to day that was
that literally came out of my mouth right

348
00:15:34,511 --> 00:15:37,576
[mike_angelo]: and i think out of the one
point eight i raised about eight hundred is

349
00:15:38,497 --> 00:15:42,584
[mike_angelo]: of that so my partner raised the
balance and so that's a pretty far gap

350
00:15:42,724 --> 00:15:44,407
[mike_angelo]: from five million right and that's because

351
00:15:44,476 --> 00:15:44,839
[casey_]: sure

352
00:15:44,507 --> 00:15:48,093
[mike_angelo]: i didn't know better i didn't know
that you know just because they say yes

353
00:15:48,173 --> 00:15:51,178
[mike_angelo]: that by times to send the wire
in that they're not actually going to do

354
00:15:51,258 --> 00:15:51,879
[mike_angelo]: it so

355
00:15:52,084 --> 00:15:53,074
[casey_]: yeah

356
00:15:52,220 --> 00:15:54,364
[mike_angelo]: it's just one of those things you
know and it could be

357
00:15:54,324 --> 00:15:54,466
[casey_]: yep

358
00:15:54,464 --> 00:15:55,506
[mike_angelo]: the not trusting you

359
00:15:55,783 --> 00:15:55,804
[casey_]: m

360
00:15:55,846 --> 00:15:59,953
[mike_angelo]: not knowing you just not really genuinely
ready although that's what they'll tell you right

361
00:16:00,544 --> 00:16:00,667
[casey_]: yep

362
00:16:01,155 --> 00:16:04,661
[mike_angelo]: so and some people are standing it
was was really cool out of it deal

363
00:16:04,721 --> 00:16:07,446
[mike_angelo]: number two came and i had people
calling me that said no the first time

364
00:16:07,466 --> 00:16:09,260
[mike_angelo]: they're like hey what's your next deal
like

365
00:16:09,164 --> 00:16:09,286
[casey_]: yep

366
00:16:09,320 --> 00:16:10,445
[mike_angelo]: it's coming now so they are

367
00:16:10,454 --> 00:16:10,574
[casey_]: isn't

368
00:16:10,465 --> 00:16:10,565
[mike_angelo]: just

369
00:16:10,634 --> 00:16:10,674
[casey_]: it

370
00:16:10,645 --> 00:16:10,906
[mike_angelo]: waiting

371
00:16:10,754 --> 00:16:10,994
[casey_]: funny

372
00:16:10,947 --> 00:16:11,027
[mike_angelo]: to

373
00:16:11,034 --> 00:16:11,135
[casey_]: how

374
00:16:11,067 --> 00:16:11,167
[mike_angelo]: see

375
00:16:11,215 --> 00:16:11,355
[casey_]: that

376
00:16:11,228 --> 00:16:11,268
[mike_angelo]: it

377
00:16:11,415 --> 00:16:15,060
[casey_]: happens like everybody is like oh wait
a minute this guy does know what he's

378
00:16:15,100 --> 00:16:15,301
[casey_]: doing

379
00:16:15,730 --> 00:16:15,811
[mike_angelo]: he

380
00:16:15,761 --> 00:16:15,962
[casey_]: i want

381
00:16:15,891 --> 00:16:16,132
[mike_angelo]: actually

382
00:16:16,002 --> 00:16:16,502
[casey_]: to end

383
00:16:16,172 --> 00:16:18,684
[mike_angelo]: got it done he actually got it
done right so

384
00:16:18,905 --> 00:16:23,052
[casey_]: and and showing that grit and the
grit that it takes to get stuff like

385
00:16:23,092 --> 00:16:27,098
[casey_]: that done man that's that's what's so
impressive about a lot of these deals especially

386
00:16:27,138 --> 00:16:31,045
[casey_]: when i'm when i'm on these podcasts
talking to people about their first deal because

387
00:16:31,305 --> 00:16:35,953
[casey_]: it tends to be a reflection of
like maybe looking back and saying hey yeah

388
00:16:36,093 --> 00:16:39,699
[casey_]: that was like the spring board you
know that that really got things going so

389
00:16:40,060 --> 00:16:40,741
[casey_]: now with that let's

390
00:16:40,672 --> 00:16:40,754
[mike_angelo]: ah

391
00:16:40,781 --> 00:16:45,689
[casey_]: kind of transition into the second deal
just to see what lessons carried over and

392
00:16:45,830 --> 00:16:51,679
[casey_]: what what did you do to did
you have a way to um kind of

393
00:16:52,260 --> 00:16:53,703
[casey_]: streamline after that

394
00:16:54,690 --> 00:16:58,296
[mike_angelo]: a little bit we wanted to go
bigger is what we did know so we

395
00:16:58,416 --> 00:17:04,186
[mike_angelo]: started looking at hundred plus hundred fifty
plus unit type products projects and so then

396
00:17:04,226 --> 00:17:06,770
[mike_angelo]: it was like well then we have
to grow our team and and we do

397
00:17:06,850 --> 00:17:11,017
[mike_angelo]: that with that we like and trust
ourselves and so that worked out really well

398
00:17:11,137 --> 00:17:14,763
[mike_angelo]: again within the same network that i
had mentioned the education network we found another

399
00:17:14,844 --> 00:17:17,568
[mike_angelo]: a couple that had been doing these
kinds of deals and they liked us they

400
00:17:17,668 --> 00:17:21,122
[mike_angelo]: kind of went some underwriting courses with
us as i was looking at deals and

401
00:17:21,162 --> 00:17:26,087
[mike_angelo]: so i found a pre market deal
that was in san antonio two hundred units

402
00:17:27,031 --> 00:17:33,706
[mike_angelo]: we started that in november the transaction
started in november right before thanksgiving and got

403
00:17:33,786 --> 00:17:38,534
[mike_angelo]: under contract there and that was that
was the exact opposite of it going smooth

404
00:17:38,614 --> 00:17:42,200
[mike_angelo]: and went almost the other way was
a heavy lift were still working on asset

405
00:17:42,260 --> 00:17:46,127
[mike_angelo]: manager for it right now and the
best thing we did was find the right

406
00:17:46,147 --> 00:17:49,614
[mike_angelo]: team to get them to buy in
on what we were doing this was almost

407
00:17:49,694 --> 00:17:55,700
[mike_angelo]: a six million dollar raise a eighteen
million dollar purchase and so big leap and

408
00:17:55,820 --> 00:17:58,946
[mike_angelo]: what are the things that change really
is just having a bigger team to know

409
00:17:59,006 --> 00:18:02,874
[mike_angelo]: who's going to do what and you
know coming from the ray side there's a

410
00:18:02,934 --> 00:18:07,127
[mike_angelo]: ton of stuff to do there the
loan was really challenging it was an underperforming

411
00:18:07,248 --> 00:18:11,245
[mike_angelo]: asset so we were blessed to have
one of the gentlemen that signed for us

412
00:18:11,345 --> 00:18:16,154
[mike_angelo]: he's actually a loan broker so i
mean you talk about an inside track that

413
00:18:16,234 --> 00:18:17,216
[mike_angelo]: was pretty awesome to go

414
00:18:17,425 --> 00:18:17,746
[casey_]: sure

415
00:18:18,058 --> 00:18:18,218
[mike_angelo]: yeah

416
00:18:18,127 --> 00:18:25,078
[casey_]: yeah and that's definitely a shot in
the arm for sure i mean definitely to

417
00:18:25,138 --> 00:18:28,784
[casey_]: keep things at least moving forward you
know the lone

418
00:18:28,610 --> 00:18:28,713
[mike_angelo]: yeah

419
00:18:28,824 --> 00:18:33,712
[casey_]: but i mean that's awesome so all
right where was that where was that second

420
00:18:34,884 --> 00:18:36,030
[casey_]: i said loki did you said

421
00:18:36,531 --> 00:18:37,336
[mike_angelo]: san antonio texas

422
00:18:38,724 --> 00:18:41,248
[casey_]: man san antonio has been really

423
00:18:41,272 --> 00:18:41,417
[mike_angelo]: yeah

424
00:18:41,369 --> 00:18:46,197
[casey_]: hot here lately especially i mean as
recording the end of august here man it's

425
00:18:46,277 --> 00:18:50,888
[casey_]: been a solid market and what was
that like twenty twenty well did you do

426
00:18:51,009 --> 00:18:52,399
[casey_]: did you get to done in the
same year

427
00:18:52,530 --> 00:18:56,616
[mike_angelo]: no that was that was twenty one
is when we closed our first deal may

428
00:18:56,717 --> 00:18:56,917
[mike_angelo]: twenty

429
00:18:57,056 --> 00:18:57,322
[casey_]: okay

430
00:18:57,057 --> 00:19:01,344
[mike_angelo]: one and then november twenty one we
started the deal we didn't close until april

431
00:19:01,424 --> 00:19:05,492
[mike_angelo]: of this year so that was five
months of negotiate going back and forth i'm

432
00:19:05,532 --> 00:19:07,417
[mike_angelo]: trying to get it all done but
yeah so it took

433
00:19:07,434 --> 00:19:07,534
[casey_]: was

434
00:19:07,477 --> 00:19:07,497
[mike_angelo]: a

435
00:19:07,554 --> 00:19:07,694
[casey_]: that

436
00:19:07,577 --> 00:19:07,838
[mike_angelo]: long

437
00:19:07,795 --> 00:19:08,015
[casey_]: five

438
00:19:07,898 --> 00:19:08,138
[mike_angelo]: time

439
00:19:08,055 --> 00:19:11,821
[casey_]: months after you had already submitted an
l i and then of course you go

440
00:19:11,901 --> 00:19:14,826
[casey_]: back and forth and back and forth
and back and forth and back and forth

441
00:19:14,987 --> 00:19:21,402
[casey_]: as do diligence items come up as
things tend to to to just the natural

442
00:19:21,462 --> 00:19:26,245
[casey_]: progression of things i guess did you
end up just negotiating other things in or

443
00:19:26,306 --> 00:19:26,547
[casey_]: down

444
00:19:26,570 --> 00:19:26,610
[mike_angelo]: it

445
00:19:26,588 --> 00:19:26,910
[casey_]: or whatever

446
00:19:26,670 --> 00:19:30,899
[mike_angelo]: was negotiating and it was delays we
had issues with insurance and even just getting

447
00:19:30,979 --> 00:19:33,405
[mike_angelo]: debt so we we ended up having
to do a couple different extensions to get

448
00:19:33,465 --> 00:19:37,052
[mike_angelo]: it done but we got it all
done and but man it was it was

449
00:19:37,112 --> 00:19:39,556
[mike_angelo]: really painful i think a lot of
sleepless nights on that one because we had

450
00:19:39,697 --> 00:19:39,877
[mike_angelo]: we had

451
00:19:39,845 --> 00:19:39,989
[casey_]: sure

452
00:19:39,917 --> 00:19:43,922
[mike_angelo]: a ton of money go hard um
you know when you deal with bigger transactions

453
00:19:43,983 --> 00:19:47,563
[mike_angelo]: and bigger cities this is not like
hey you got a thirty day window to

454
00:19:47,643 --> 00:19:51,750
[mike_angelo]: just free free play but this was
hey two hundred thousand dollars hard and then

455
00:19:51,810 --> 00:19:54,294
[mike_angelo]: we did a bunch of those so
by the time we closed we were almost

456
00:19:54,354 --> 00:19:55,296
[mike_angelo]: nine hundred thousand dollars

457
00:19:55,264 --> 00:19:55,606
[casey_]: yeah

458
00:19:55,416 --> 00:19:56,819
[mike_angelo]: in that yeah

459
00:19:56,693 --> 00:19:57,579
[casey_]: man

460
00:19:57,219 --> 00:20:01,446
[mike_angelo]: no and again from my standpoint i'm
the guy that found the deal and i'm

461
00:20:01,506 --> 00:20:04,772
[mike_angelo]: doing the asset managing i'm relying on
our team to help us execute this so

462
00:20:05,112 --> 00:20:08,698
[mike_angelo]: i did have money in it but
not anywhere near that amount so a lot

463
00:20:08,738 --> 00:20:10,832
[mike_angelo]: of people had to trust as

464
00:20:10,815 --> 00:20:10,995
[casey_]: now

465
00:20:10,913 --> 00:20:11,376
[mike_angelo]: on an the deal

466
00:20:11,296 --> 00:20:15,918
[casey_]: i'd like for you real quick to
explain what going the money going hard

467
00:20:15,920 --> 00:20:16,082
[mike_angelo]: yeah

468
00:20:16,098 --> 00:20:17,222
[casey_]: is what that means

469
00:20:17,700 --> 00:20:21,386
[mike_angelo]: absolutely so when you buy it when
you go under contract you have an earnest

470
00:20:21,446 --> 00:20:25,072
[mike_angelo]: money deposit so usually it's a percentage
of the purchase price one to two percent

471
00:20:25,112 --> 00:20:29,239
[mike_angelo]: is typically what you see two percent
kind of common today in the old days

472
00:20:29,319 --> 00:20:34,284
[mike_angelo]: or or probably covid you would see
hey i'm putting in a refundable deposit so

473
00:20:34,745 --> 00:20:37,408
[mike_angelo]: let's say it's a five million dollar
purchase you're goin to put in a hundred

474
00:20:37,428 --> 00:20:41,634
[mike_angelo]: thousand dollars right two per cent that's
going to sit in escrow and that gives

475
00:20:41,834 --> 00:20:47,003
[mike_angelo]: the buyer um know e willingness commitment
it gives the sellers some confidence that this

476
00:20:47,023 --> 00:20:48,485
[mike_angelo]: guy is going to come in but
usually you

477
00:20:48,414 --> 00:20:48,556
[casey_]: yep

478
00:20:48,505 --> 00:20:52,552
[mike_angelo]: have thirty days or so sometimes even
more that that money comes back to you

479
00:20:52,572 --> 00:20:55,337
[mike_angelo]: if you decide it's not going to
be good or the deal doesn't work for

480
00:20:55,377 --> 00:21:00,205
[mike_angelo]: some reason so what had happened with
all of the pressure on multi family specifically

481
00:21:00,265 --> 00:21:04,772
[mike_angelo]: is things were going hard on day
one and hard means it nonrefundable day one

482
00:21:05,153 --> 00:21:08,458
[mike_angelo]: so you put that money inside on
sam and if you want to walk away

483
00:21:08,539 --> 00:21:11,564
[mike_angelo]: on day two because the building is
falling apart your money goes away

484
00:21:11,915 --> 00:21:12,116
[casey_]: on

485
00:21:12,545 --> 00:21:16,091
[mike_angelo]: gone and none of us operate that
way and we didn't any deals like that

486
00:21:16,592 --> 00:21:19,698
[mike_angelo]: that deal what we started to do
was a seven day early access so that

487
00:21:19,738 --> 00:21:23,064
[mike_angelo]: was our way around hey we have
a purchase and sale agreement but we have

488
00:21:23,104 --> 00:21:28,002
[mike_angelo]: a seven day access period that's a
free look money we put in a refundable

489
00:21:28,062 --> 00:21:33,147
[mike_angelo]: component after seven days that refundable component
becomes nonrefundable so it was just a quick

490
00:21:33,207 --> 00:21:35,729
[mike_angelo]: way to hate in the first six
days we'll know we're gonna buy this thing

491
00:21:36,320 --> 00:21:36,541
[mike_angelo]: scope

492
00:21:36,474 --> 00:21:36,618
[casey_]: yep

493
00:21:36,561 --> 00:21:39,737
[mike_angelo]: the lines check the roots i mean
nothing catastrophic ideally right

494
00:21:40,404 --> 00:21:40,527
[casey_]: yep

495
00:21:40,620 --> 00:21:44,007
[mike_angelo]: um so that was our way around
it but in phoenix man i could i

496
00:21:44,067 --> 00:21:47,357
[mike_angelo]: could not play talking about a quarter
million dollars hard on day one

497
00:21:48,064 --> 00:21:48,165
[casey_]: oh

498
00:21:48,100 --> 00:21:48,180
[mike_angelo]: and

499
00:21:48,245 --> 00:21:48,446
[casey_]: yeah

500
00:21:48,260 --> 00:21:48,581
[mike_angelo]: so i was

501
00:21:48,627 --> 00:21:48,829
[casey_]: hunter

502
00:21:48,641 --> 00:21:48,781
[mike_angelo]: like

503
00:21:48,849 --> 00:21:49,170
[casey_]: percent

504
00:21:49,062 --> 00:21:51,586
[mike_angelo]: i'm gonna i'm gonna go to a
different sand box i just can't play here

505
00:21:52,228 --> 00:21:52,368
[mike_angelo]: not

506
00:21:52,464 --> 00:21:54,808
[casey_]: i've got some friends in the phoenix
market man and they're

507
00:21:54,840 --> 00:21:55,800
[mike_angelo]: yeah

508
00:21:54,908 --> 00:22:01,479
[casey_]: there they've became incredibly strong in the
last year and a half two years

509
00:22:01,361 --> 00:22:01,523
[mike_angelo]: yes

510
00:22:02,060 --> 00:22:05,745
[casey_]: my buddy over there he's he's knocking
it out of the park and

511
00:22:05,910 --> 00:22:06,033
[mike_angelo]: yeah

512
00:22:06,165 --> 00:22:09,709
[casey_]: he's really good at ind he says
and he's strictly in that market you know

513
00:22:09,809 --> 00:22:09,909
[casey_]: but

514
00:22:09,840 --> 00:22:09,860
[mike_angelo]: m

515
00:22:09,969 --> 00:22:13,532
[casey_]: he knows it he can raise the
money and he can keep things moving in

516
00:22:13,592 --> 00:22:13,893
[casey_]: the right

517
00:22:13,770 --> 00:22:13,950
[mike_angelo]: i bet

518
00:22:13,913 --> 00:22:14,373
[casey_]: direction

519
00:22:13,990 --> 00:22:15,212
[mike_angelo]: you i know who you're talking about
but yeah

520
00:22:15,334 --> 00:22:15,575
[casey_]: oh

521
00:22:15,472 --> 00:22:18,377
[mike_angelo]: it's a couple of great guys there
and just doing really good work so

522
00:22:19,044 --> 00:22:19,184
[casey_]: yeah

523
00:22:19,138 --> 00:22:19,259
[mike_angelo]: yeah

524
00:22:19,444 --> 00:22:25,695
[casey_]: yeah they're they're knocking it out i'm
certainly impressed and but so when you start

525
00:22:25,775 --> 00:22:29,401
[casey_]: talking about i want to i want
to as as you've talked and as the

526
00:22:29,441 --> 00:22:33,528
[casey_]: progression is as we've through your deals
here i want to go back because i

527
00:22:33,588 --> 00:22:36,853
[casey_]: feel like it's it's worth at least
spending a little bit more time talking about

528
00:22:36,974 --> 00:22:37,474
[casey_]: the team

529
00:22:38,160 --> 00:22:38,180
[mike_angelo]: m

530
00:22:38,196 --> 00:22:41,621
[casey_]: and what you looked for in people
like because i want to go outside of

531
00:22:41,661 --> 00:22:46,252
[casey_]: just the k p and so so
what because there had to be some some

532
00:22:47,344 --> 00:22:52,818
[casey_]: potential you had said that one guy
flaked out on you twice and what not

533
00:22:54,322 --> 00:23:00,047
[casey_]: but what what do you look for
when you start putting together the team first

534
00:23:00,107 --> 00:23:03,290
[casey_]: of all what team members did you
need or what what did you call them

535
00:23:03,591 --> 00:23:05,373
[casey_]: and then what did you look for
in each one

536
00:23:06,120 --> 00:23:10,749
[mike_angelo]: sure so start with core values you
know one is there alignment is there some

537
00:23:10,829 --> 00:23:14,616
[mike_angelo]: energy when we speak and then how
are we tackling whatever it is that we're

538
00:23:14,636 --> 00:23:15,678
[mike_angelo]: going to try to get after so

539
00:23:16,247 --> 00:23:16,774
[casey_]: hm

540
00:23:16,580 --> 00:23:19,565
[mike_angelo]: you know my partner was the first
guy i started working with and didn't know

541
00:23:19,605 --> 00:23:22,950
[mike_angelo]: him from anything i think we connected
on facebook and then we met in person

542
00:23:23,070 --> 00:23:26,616
[mike_angelo]: walked with him talked with him and
we had similar values we looked at the

543
00:23:26,656 --> 00:23:30,042
[mike_angelo]: same kind of approach we're looking at
long term girl you know you can make

544
00:23:30,082 --> 00:23:32,306
[mike_angelo]: a lot of money really fast and
real estate or you can lose a lot

545
00:23:32,346 --> 00:23:33,388
[mike_angelo]: of money or you can

546
00:23:33,355 --> 00:23:33,499
[casey_]: sure

547
00:23:33,428 --> 00:23:36,574
[mike_angelo]: become wealthy over a long period of
time so we had to have that same

548
00:23:36,634 --> 00:23:38,999
[mike_angelo]: vision of his as a long term
play we're going to do it right

549
00:23:39,644 --> 00:23:39,786
[casey_]: yep

550
00:23:39,910 --> 00:23:44,257
[mike_angelo]: so coralie's key and then what is
their role so my partner's role originally was

551
00:23:44,317 --> 00:23:47,482
[mike_angelo]: hey capital source re gonna need some
you know hard

552
00:23:47,344 --> 00:23:48,904
[casey_]: oh

553
00:23:47,883 --> 00:23:52,551
[mike_angelo]: not hard on where i need some
some funds for doing these transactions i'm going

554
00:23:52,571 --> 00:23:56,197
[mike_angelo]: no source the deal and then we
need key principle to help us sign on

555
00:23:56,237 --> 00:24:01,360
[mike_angelo]: the note guarantor so those kind of
together that was our role to the original

556
00:24:01,461 --> 00:24:05,067
[mike_angelo]: role and then as we started to
grow especially the san antonio deal is like

557
00:24:05,107 --> 00:24:09,474
[mike_angelo]: wow this is a heavy lift i
don't have any experience in this um our

558
00:24:09,534 --> 00:24:12,399
[mike_angelo]: partner that had done a bunch of
these deals he's like hey we should bring

559
00:24:12,459 --> 00:24:16,040
[mike_angelo]: somebody sin because we don't know what
we don't know so

560
00:24:16,257 --> 00:24:16,400
[casey_]: right

561
00:24:16,461 --> 00:24:21,290
[mike_angelo]: the group the couple we brought in
also met the criteria on all fronts but

562
00:24:21,350 --> 00:24:25,537
[mike_angelo]: they had had done a very heavy
lift in that same market just a few

563
00:24:25,578 --> 00:24:28,806
[mike_angelo]: years prior it was a fantastic kind
of fit and

564
00:24:28,834 --> 00:24:29,554
[casey_]: oh

565
00:24:28,967 --> 00:24:32,057
[mike_angelo]: we already ddalraycheck the boxes on the
other side so it was easy to vet

566
00:24:32,197 --> 00:24:36,189
[mike_angelo]: that i think anyone starting off you
know sometimes the easiest thing to do is

567
00:24:36,229 --> 00:24:38,476
[mike_angelo]: your partner with the guy sitting next
to you or the girl sitting next to

568
00:24:38,516 --> 00:24:42,937
[mike_angelo]: you in your class i don't think
that's always the best idea it's the easiest

569
00:24:42,977 --> 00:24:46,585
[mike_angelo]: but it's not the best and i
think nine times out of ten there it

570
00:24:46,645 --> 00:24:48,048
[mike_angelo]: gets dissolved at some point but you

571
00:24:48,094 --> 00:24:48,217
[casey_]: ye

572
00:24:48,128 --> 00:24:50,813
[mike_angelo]: got to figure out what's your strength
are so my strength is finding the deal

573
00:24:51,415 --> 00:24:56,103
[mike_angelo]: analyzing it putting the business plan together
and i do raise money so i have

574
00:24:56,123 --> 00:24:57,506
[mike_angelo]: a good investor capital based but

575
00:24:58,216 --> 00:24:58,398
[casey_]: sure

576
00:24:58,367 --> 00:25:01,693
[mike_angelo]: my other partners that's all he does
focus on i don't worry about underwriting make

577
00:25:01,713 --> 00:25:05,459
[mike_angelo]: sure make sur you can articulate it
to your investors but you focus on finding

578
00:25:05,499 --> 00:25:08,660
[mike_angelo]: money um you know and then i
have a third person that kind of finds

579
00:25:08,720 --> 00:25:10,367
[mike_angelo]: the debt i figure out the debt
piece

580
00:25:11,204 --> 00:25:11,324
[casey_]: yeah

581
00:25:11,291 --> 00:25:11,372
[mike_angelo]: so

582
00:25:11,364 --> 00:25:15,949
[casey_]: and that's what you said the loan
the loan originator or the loan the loan

583
00:25:16,049 --> 00:25:17,831
[casey_]: guy that came along with you that's
awesome man so

584
00:25:18,110 --> 00:25:18,233
[mike_angelo]: yeah

585
00:25:18,171 --> 00:25:20,053
[casey_]: so how many doors are you all
up to right now

586
00:25:21,121 --> 00:25:25,207
[mike_angelo]: four fifty three four to three doors
so about six properties and we have two

587
00:25:25,267 --> 00:25:28,092
[mike_angelo]: development deals so we own dirt at
this point

588
00:25:27,934 --> 00:25:28,096
[casey_]: yeah

589
00:25:28,413 --> 00:25:28,913
[mike_angelo]: and we're

590
00:25:28,945 --> 00:25:29,006
[casey_]: so

591
00:25:28,954 --> 00:25:30,857
[mike_angelo]: going to build some apartments

592
00:25:30,664 --> 00:25:31,354
[casey_]: yeah

593
00:25:30,877 --> 00:25:32,962
[mike_angelo]: here in phoenix casa grand little south

594
00:25:32,863 --> 00:25:32,884
[casey_]: m

595
00:25:33,023 --> 00:25:38,000
[mike_angelo]: of phoenix we have single family development
project that we bought the land for then

596
00:25:38,040 --> 00:25:41,504
[mike_angelo]: i actually have a totally different projects
of re development project that's in again downtown

597
00:25:41,604 --> 00:25:44,707
[mike_angelo]: area that as an office building it's
vacant we're going to re develop it into

598
00:25:44,747 --> 00:25:47,912
[mike_angelo]: a restaurant retail brewery it was just
a really

599
00:25:47,829 --> 00:25:47,970
[casey_]: dead

600
00:25:47,952 --> 00:25:52,693
[mike_angelo]: good find and i just said hey
if we can figure out make money help

601
00:25:52,754 --> 00:25:56,303
[mike_angelo]: our investors get a good return and
have a fun project why why not it's

602
00:25:56,343 --> 00:25:58,088
[mike_angelo]: not really work is just that could
be cool

603
00:25:58,195 --> 00:25:58,357
[casey_]: sure

604
00:25:58,970 --> 00:25:59,071
[mike_angelo]: oh

605
00:25:59,004 --> 00:26:03,050
[casey_]: yeah that's right and then and then
you know but i'll tell you what man

606
00:26:03,110 --> 00:26:08,399
[casey_]: a lot of that you know like
take louville kentucky for example there's there's like

607
00:26:08,600 --> 00:26:14,148
[casey_]: like we were up there we as
back during the dirt weekend and and like

608
00:26:15,535 --> 00:26:21,344
[casey_]: side of town that had run down
ragged falling over gas stations they had turned

609
00:26:21,384 --> 00:26:22,586
[casey_]: it into a microbrary

610
00:26:23,341 --> 00:26:23,362
[mike_angelo]: h

611
00:26:23,428 --> 00:26:24,109
[casey_]: and you know

612
00:26:24,069 --> 00:26:24,090
[mike_angelo]: m

613
00:26:24,389 --> 00:26:27,475
[casey_]: it's so it's so interesting how some
of that stuff is that some of that

614
00:26:27,535 --> 00:26:29,460
[casey_]: re classification stuff has taken place

615
00:26:29,890 --> 00:26:30,210
[mike_angelo]: i might have

616
00:26:30,161 --> 00:26:30,221
[casey_]: and

617
00:26:30,230 --> 00:26:30,330
[mike_angelo]: been

618
00:26:30,281 --> 00:26:30,382
[casey_]: it's

619
00:26:30,370 --> 00:26:30,410
[mike_angelo]: to

620
00:26:30,422 --> 00:26:30,682
[casey_]: really

621
00:26:30,450 --> 00:26:33,674
[mike_angelo]: that man in louvel right we walked
down to a place that was an old

622
00:26:33,715 --> 00:26:36,478
[mike_angelo]: gas station as a super cool they
had a little outdoor area

623
00:26:37,824 --> 00:26:38,064
[casey_]: yeah

624
00:26:38,052 --> 00:26:38,254
[mike_angelo]: it was

625
00:26:38,344 --> 00:26:38,484
[casey_]: like

626
00:26:38,415 --> 00:26:38,577
[mike_angelo]: it was

627
00:26:38,545 --> 00:26:38,565
[casey_]: a

628
00:26:38,657 --> 00:26:38,819
[mike_angelo]: last

629
00:26:38,725 --> 00:26:39,005
[casey_]: super

630
00:26:38,859 --> 00:26:39,061
[mike_angelo]: year i

631
00:26:39,065 --> 00:26:39,285
[casey_]: cool

632
00:26:39,121 --> 00:26:39,404
[mike_angelo]: was down

633
00:26:39,366 --> 00:26:39,786
[casey_]: vibe

634
00:26:39,444 --> 00:26:39,585
[mike_angelo]: there

635
00:26:39,886 --> 00:26:40,447
[casey_]: i mean it was

636
00:26:40,440 --> 00:26:41,130
[mike_angelo]: yeah

637
00:26:41,588 --> 00:26:44,912
[casey_]: yeah and then they had i think
as a matter of fact i think they

638
00:26:44,993 --> 00:26:49,763
[casey_]: had i can't remember the old glass
the glass door came up like the garage

639
00:26:49,823 --> 00:26:52,890
[casey_]: door they had replaced it with a
c through glass door and but anyway

640
00:26:52,820 --> 00:26:53,362
[mike_angelo]: ye had a roll up

641
00:26:53,371 --> 00:26:53,471
[casey_]: so

642
00:26:53,422 --> 00:26:53,562
[mike_angelo]: door

643
00:26:53,552 --> 00:26:54,704
[casey_]: yeah yeah

644
00:26:54,625 --> 00:26:55,387
[mike_angelo]: yea we might have eenthesame

645
00:26:55,224 --> 00:26:55,364
[casey_]: yeah

646
00:26:55,427 --> 00:26:55,607
[mike_angelo]: place

647
00:26:55,464 --> 00:27:00,850
[casey_]: man that's small world dude small world
for sure so everybody

648
00:27:00,726 --> 00:27:00,868
[mike_angelo]: yep

649
00:27:00,910 --> 00:27:03,332
[casey_]: comes to kentucky for some reason or
another i guess

650
00:27:03,361 --> 00:27:03,401
[mike_angelo]: we

651
00:27:03,452 --> 00:27:03,593
[casey_]: it's

652
00:27:03,481 --> 00:27:03,602
[mike_angelo]: went

653
00:27:03,633 --> 00:27:03,753
[casey_]: kind

654
00:27:03,642 --> 00:27:04,105
[mike_angelo]: for bourbon

655
00:27:03,813 --> 00:27:04,093
[casey_]: of it

656
00:27:04,226 --> 00:27:04,809
[mike_angelo]: so you know

657
00:27:06,294 --> 00:27:07,356
[casey_]: yeah i got you

658
00:27:07,351 --> 00:27:07,491
[mike_angelo]: yeah

659
00:27:07,797 --> 00:27:11,062
[casey_]: well all right we'll listen well mike
thank you so much for taking the time

660
00:27:11,102 --> 00:27:13,727
[casey_]: to be with us now i've got
a couple of questions we ask every guest

661
00:27:13,767 --> 00:27:17,373
[casey_]: that comes on the show and the
first of those questions is what is the

662
00:27:17,433 --> 00:27:20,050
[casey_]: best book that you have recently read
or recurrently reading

663
00:27:21,181 --> 00:27:24,692
[mike_angelo]: so finally i really gotten into reading
a lot and i just put this on

664
00:27:24,752 --> 00:27:28,000
[mike_angelo]: another one so there's a book called
juggling elephants um

665
00:27:28,135 --> 00:27:28,919
[casey_]: that's cool okay

666
00:27:29,022 --> 00:27:33,629
[mike_angelo]: ah jones laflin so my old boss
maybe read this it's probably been five six

667
00:27:33,710 --> 00:27:36,514
[mike_angelo]: years since i've read it i just
re read it but it has a lot

668
00:27:36,574 --> 00:27:40,401
[mike_angelo]: to do with the metaphor is you
know juggling elephants is pretty difficult right and

669
00:27:40,501 --> 00:27:40,581
[mike_angelo]: so

670
00:27:40,524 --> 00:27:40,627
[casey_]: yeah

671
00:27:40,781 --> 00:27:45,650
[mike_angelo]: trying to priratize things and there's a
big focus on family in that and a

672
00:27:45,710 --> 00:27:48,817
[mike_angelo]: lot of us that get into this
we just forget about our kids and our

673
00:27:48,917 --> 00:27:49,498
[mike_angelo]: spouses and

674
00:27:50,375 --> 00:27:50,537
[casey_]: day

675
00:27:50,380 --> 00:27:53,644
[mike_angelo]: that one really helped me re center
and focus on what's really why am i

676
00:27:53,724 --> 00:27:54,966
[mike_angelo]: doing this was

677
00:27:54,864 --> 00:27:55,006
[casey_]: yep

678
00:27:55,006 --> 00:27:57,509
[mike_angelo]: really important so so that was that's
my that's my my read

679
00:27:58,364 --> 00:28:02,529
[casey_]: that's awesome and my my mother used
to say the only way to eat an

680
00:28:02,589 --> 00:28:03,891
[casey_]: elephant is one bite at a time

681
00:28:03,810 --> 00:28:04,133
[mike_angelo]: yeah

682
00:28:03,911 --> 00:28:04,712
[casey_]: you know so it's kind

683
00:28:04,698 --> 00:28:04,840
[mike_angelo]: there

684
00:28:04,752 --> 00:28:04,892
[casey_]: of the

685
00:28:04,900 --> 00:28:04,961
[mike_angelo]: you

686
00:28:04,953 --> 00:28:05,113
[casey_]: same

687
00:28:05,001 --> 00:28:05,082
[mike_angelo]: go

688
00:28:05,904 --> 00:28:08,611
[casey_]: keep it going so all right what
is a dream vacation that you have taken

689
00:28:08,671 --> 00:28:09,232
[casey_]: or hope to take

690
00:28:11,041 --> 00:28:13,167
[mike_angelo]: we're going to go to jamaica here
shortly

691
00:28:14,164 --> 00:28:15,034
[casey_]: oh

692
00:28:14,270 --> 00:28:17,217
[mike_angelo]: we anything anything on the beach or
coastal but i think our dream one is

693
00:28:17,277 --> 00:28:18,680
[mike_angelo]: tahiti so i want

694
00:28:18,604 --> 00:28:18,685
[casey_]: oh

695
00:28:18,740 --> 00:28:18,780
[mike_angelo]: to

696
00:28:18,745 --> 00:28:18,866
[casey_]: wow

697
00:28:18,821 --> 00:28:18,901
[mike_angelo]: go

698
00:28:18,987 --> 00:28:19,148
[casey_]: yeah

699
00:28:19,121 --> 00:28:21,184
[mike_angelo]: i want to i want to stay
on top of one of those bungalows with

700
00:28:21,225 --> 00:28:21,645
[mike_angelo]: the with the

701
00:28:21,615 --> 00:28:21,758
[casey_]: yep

702
00:28:21,705 --> 00:28:23,709
[mike_angelo]: ocean below me so that's that's on
our list

703
00:28:24,406 --> 00:28:28,112
[casey_]: i think that's on i think that
to some degree is on everybody's bucket list

704
00:28:28,273 --> 00:28:30,777
[casey_]: i think it just depends on how
far down it is really right

705
00:28:30,670 --> 00:28:30,832
[mike_angelo]: yeah

706
00:28:31,658 --> 00:28:31,738
[casey_]: so

707
00:28:31,813 --> 00:28:32,400
[mike_angelo]: pretty soon here

708
00:28:32,500 --> 00:28:32,680
[casey_]: well

709
00:28:32,541 --> 00:28:32,723
[mike_angelo]: that's

710
00:28:33,061 --> 00:28:36,926
[casey_]: well cool man well listen if the
listener heard something that that they that resonated

711
00:28:36,986 --> 00:28:40,571
[casey_]: with them or they want to learn
more about maybe you all what is a

712
00:28:40,631 --> 00:28:42,373
[casey_]: good way for them to reach out
and get in touch with you

713
00:28:42,660 --> 00:28:46,767
[mike_angelo]: check out our websites we just re
branded as nimble capital group so inks our

714
00:28:46,827 --> 00:28:51,274
[mike_angelo]: development aren't but nimble capital group wwwnimble
capital group check it out there's a ton

715
00:28:51,334 --> 00:28:54,079
[mike_angelo]: of education there and my contact information
is a re happy to check that out

716
00:28:54,480 --> 00:28:59,268
[mike_angelo]: in linked in mike angelo and reach
out any time i'd love to i always

717
00:28:59,308 --> 00:29:02,313
[mike_angelo]: challenge people i heard a guy on
a podcast he said nobody ever calls me

718
00:29:02,353 --> 00:29:05,718
[mike_angelo]: i give him my number i call
that guy and so if you guys want

719
00:29:05,758 --> 00:29:07,915
[mike_angelo]: to call me your no call me
my numbers on our website

720
00:29:08,564 --> 00:29:11,008
[casey_]: awesome there you go man hey that's
why you do you got to tell you

721
00:29:11,068 --> 00:29:13,171
[casey_]: got to be assertive and take a
sort of action so awesome

722
00:29:13,020 --> 00:29:13,308
[mike_angelo]: that's it

723
00:29:13,492 --> 00:29:16,898
[casey_]: mike thank you so much for your
time and we we i can't really thank

724
00:29:16,958 --> 00:29:22,427
[casey_]: you enough and and you know again
the the biggest mistakes the beginners make when

725
00:29:23,168 --> 00:29:25,492
[casey_]: investing in real estate i keep having
to go back and read that is too

726
00:29:25,572 --> 00:29:29,619
[casey_]: long but you know i think a
lot of people can take what we've told

727
00:29:29,659 --> 00:29:33,165
[casey_]: them and learn and if nothing else
maybe they can put it notch in their

728
00:29:33,505 --> 00:29:37,131
[casey_]: in their in their little feather in
their hat and take what what we've talked

729
00:29:37,171 --> 00:29:42,060
[casey_]: about here and move forward so awesome
well thanks again and listeners as always please

730
00:29:42,160 --> 00:29:46,287
[casey_]: head down and smash that subscribe button
so you can be notified when we release

731
00:29:46,347 --> 00:29:51,676
[casey_]: new episodes a new content and again
mike gave you his website so go check

732
00:29:51,736 --> 00:29:55,903
[casey_]: that out give the man a call
please call him nobody ever calls him he

733
00:29:55,983 --> 00:29:58,487
[casey_]: said to some other i said never
called well call this man call this man

734
00:29:58,527 --> 00:30:01,292
[casey_]: and talk to him he be glad
to help you and show you how you

735
00:30:01,312 --> 00:30:03,816
[casey_]: can make investment and and man i
got i got a eve props on that

736
00:30:03,856 --> 00:30:09,746
[casey_]: lost cruse still lost crusisisis a very
is a very neat i think it's it's

737
00:30:09,886 --> 00:30:14,113
[casey_]: very i love how how heavy the
culture is there it's it's just

738
00:30:13,995 --> 00:30:14,015
[mike_angelo]: h

739
00:30:14,173 --> 00:30:14,914
[casey_]: it's a different kind

740
00:30:14,769 --> 00:30:14,790
[mike_angelo]: m

741
00:30:14,954 --> 00:30:15,595
[casey_]: of place so

742
00:30:15,961 --> 00:30:16,102
[mike_angelo]: sure

743
00:30:16,297 --> 00:30:16,537
[casey_]: um

744
00:30:16,303 --> 00:30:16,605
[mike_angelo]: for sure

745
00:30:16,777 --> 00:30:20,283
[casey_]: but also man well thank you all
so much and listeners and mike as well

746
00:30:20,564 --> 00:30:22,071
[casey_]: everybody is a wonderful rest of the
day

747
00:30:22,911 --> 00:30:23,655
[mike_angelo]: casey appreciate it