How To Make It In The Real Estate Business Starting From Scratch with Jered Sturm

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[casey_]: hey there and welcome to today's episode
of cash flow pro your daily real estate

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[casey_]: investing podcast and you tube channel i'm
here today with jared storm of capital group

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[casey_]: and jared and i were talking pre
show he was telling us a little bit

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[casey_]: about his what he's got going on
and he's got a very interesting story that

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[casey_]: i think a lot of us can
relate to but before we get into it

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[casey_]: i want to very kindly ask you
to head down and hit the subscribe button

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[casey_]: of the cash flow pro so that
you do not miss are guests and their

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[casey_]: stories and potentially how you can move
your capital rising business down the road and

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[casey_]: entually make make better deals make more
money and raise money and whatever it is

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[casey_]: you're into but while you're there also
please leave us a review five star review

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[casey_]: i hope and would certainly very much
so appreciate it so jarred welcome to the

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[casey_]: show how are you today

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[jered_sturm]: i'm doing great casey thank you for
putting the show together and allowing me to

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[jered_sturm]: share my story with your audience i
appreciate it and i know it's not an

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[jered_sturm]: easy venture to put production like this
together so thank you for doin that and

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[jered_sturm]: giving me a

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[casey_]: absolutely

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[jered_sturm]: platform chair my story

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[casey_]: absolutely man we're glad to have you
and glad you could carve out just a

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[casey_]: little bit of time to be with
us today so why don't you kind of

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[casey_]: tell us a little bit about where
you came from and i know it's been

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[casey_]: a lot of work and a lot
of hard work at that to get to

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[casey_]: where you are now but we want
to hear kind of how you started so

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[casey_]: the audience can have some context to
what your background is

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[jered_sturm]: okay yeah i've been in the real
estate industry for i've lost track of the

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[jered_sturm]: years but more than

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[casey_]: yeah

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[jered_sturm]: fifteen years and

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[casey_]: yeah

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[jered_sturm]: and a lot of people will say
well you you still relative young how is

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[jered_sturm]: that possible actually got started pretty young
so i was sixteen and i was a

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[jered_sturm]: maintenance tech myself so i was the
person unclogging toilets and turning units and hanging

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[jered_sturm]: blinds doing those things while i was
in high school and so that's how i

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[jered_sturm]: got my start into the real estate
industry and then that that grew into starting

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[jered_sturm]: construction company which then evolved into using
the funds from the construction company to buy

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[jered_sturm]: my own real estate assets that has
grown over the years but been in the

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[jered_sturm]: industry for quite some time i'm thirty
two now and fast forwarding to present we

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[jered_sturm]: have about a hundred million dollars and
assets focused on this inscennati ohio market in

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[jered_sturm]: multi family and it has been a
long journey from maintenance tech to this point

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[jered_sturm]: and i'm

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[casey_]: i'm sure

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[jered_sturm]: happy to dig into any of that
or give you a quick overview

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[casey_]: um well first off i know if
you're in the cincinnati market you've got a

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[casey_]: considerable amount of competition up there especially
now i think i think there's definitely been

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[casey_]: some some that market has definitely grown
i would say in the last five six

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[casey_]: seven eight years it's always been a
good market but it's

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[jered_sturm]: m

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[casey_]: definitely kind of really got a little
rocket field it's a little bit like nashville

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[casey_]: in a way it's just like all
of a sudden people are like oh i

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[casey_]: want to move to incinnatie it's the
same way as nashville people like people just

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[casey_]: woke up one day nd they're like
hey what are we gonna do today honey

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[casey_]: i don't know let's move to nashville
you know and so it's just kind of

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[casey_]: grown it seems like it has a
little bit of the same sentiment there so

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[casey_]: um but yeah so why don't you
so maintenance text man i mean you know

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[jered_sturm]: m

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[casey_]: it's that's such a maybe people out
there aren't necessarily maintenance text i know like

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[casey_]: myself i started in housekeeping in a
hotel so i mean you know there's a

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[casey_]: lot of us that have those very
base beginnings who now look forward and say

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[casey_]: hey yeah this is what we want
to be so what how did you learn

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[casey_]: i guess that's the first thing i
want to know is i want to set

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[casey_]: a basis for what clicked in your
mind to say hey i'm going in and

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[casey_]: going to be i'm going to be
in the real estate business to start with

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[casey_]: or maybe even the capital raising business
or how did that how did that just

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[jered_sturm]: m

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[casey_]: click in your mind what set that
in motion

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[jered_sturm]: i don't know if anything ever i
didn't have an a moment but i think

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[jered_sturm]: what set it in motion is i
was not a good student academically

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[casey_]: okay

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[jered_sturm]: so the typical path never appealed to
me of

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[casey_]: yah yeah yeah

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[jered_sturm]: go get the corporate job and work
that for a long time

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[casey_]: we

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[jered_sturm]: i was always very good at working
with my hands and then as i was

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[jered_sturm]: a maintenance tech i just never said
no to anything so i'd always get asked

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[jered_sturm]: do you know how to do this
and the answer was always yes and really

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[jered_sturm]: what the answer was in my head
was yes i know how to figure it

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[jered_sturm]: out not

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[casey_]: yah

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[jered_sturm]: yes i

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[casey_]: oh

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[jered_sturm]: know how to do that and

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[casey_]: my

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[jered_sturm]: so when i would get

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[casey_]: oh

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[jered_sturm]: the question do you know how to
change a toilet there was yes and i

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[jered_sturm]: would figure it out but that evolved
into do you know how to renovate a

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[jered_sturm]: bathroom can you put in a new
kitchen could you put

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[casey_]: yeah

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[jered_sturm]: an edition on my house and the
answer

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[casey_]: sure

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[jered_sturm]: was oh yes and i'll figure it
out and then when it came time to

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[jered_sturm]: say do you know how to buy
single family houses for investment yeah i can

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[jered_sturm]: figure it out but it went from
all of those things and just progressed of

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[casey_]: m

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[jered_sturm]: i'm good at problem solving and that's
a universal skill so whatever i'm doing i'm

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[jered_sturm]: good at that just solving it

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[casey_]: yeah

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[jered_sturm]: and moving and adding to my tool
belt of skills i have and and using

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[jered_sturm]: that to further whatever venture i'm in
whether it's changing a toilet or buying you

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[jered_sturm]: a ten million dollar apartment building

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[casey_]: yeah and that's you know my grandfather
one of the one of the most i

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[casey_]: guess i don't say famous things i
remember him saying when i was growing up

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[casey_]: was he would always state that he
could wear a tukcito or he could wear

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[casey_]: overalls it didn't make any difference to
him which one of the two he wore

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[casey_]: he would do which whatever he was
doing the very best and and

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[jered_sturm]: m

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[casey_]: that's a lot the same of what
you're saying it's it's it's one of those

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[casey_]: things where it's like hey whether you're
changing her toilet whether you're taking down like

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[casey_]: you said taking down a massive apartment
building figure it out that's what i always

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[casey_]: tell my kids just figure it out

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[jered_sturm]: my

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[casey_]: and problem solve and notch it up
so that you can make take one little

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[casey_]: step to get to that goal and
i love that that that that's the part

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[casey_]: of your story that really makes people
out there in that to me is probably

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[casey_]: one of the most important parts of
your story is the problem solving portion of

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[casey_]: it

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[jered_sturm]: m

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[casey_]: so with that being said let's kind
of move forward here and talk a little

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[casey_]: bit about maybe your your first investment
deal like whether it

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[jered_sturm]: m

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[casey_]: was single family or whether it was
multi family and then we can kind of

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[casey_]: move and how you've progressed into where
you're at now

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[jered_sturm]: yeah i think that's great the first
real estate investment

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[casey_]: yeah

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[jered_sturm]: we made and when i say wade
it was me and my brother and still

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[jered_sturm]: to this day is my business partner

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[casey_]: yes

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[jered_sturm]: first

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[casey_]: yeah

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[jered_sturm]: real estate investment we made was in
two thousand and eight june of two thousand

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[jered_sturm]: and eight bought a single family house
for myself and my brother to live in

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[jered_sturm]: and we rented for other bedrooms friends
um and so i consider that our

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[casey_]: yah

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[jered_sturm]: first investment which

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[casey_]: what

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[jered_sturm]: prepared

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[casey_]: year was that what year was

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[jered_sturm]: the

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[casey_]: that

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[jered_sturm]: thousand and eight

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[casey_]: two thousand and eight so man at
was like early on and the whole house

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[casey_]: hacking deal i mean what do you
even call it house hacking back then necessarily

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[casey_]: but yeah

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[jered_sturm]: yeah

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[casey_]: shoot yeah man that's killer dude and

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[jered_sturm]: so we and then and then we
would what we were doing at that time

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[jered_sturm]: is we were fixing up people's like
doing high end bathrooms and kitchens or putting

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[jered_sturm]: additions on people's houses decks porches things
like that

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[casey_]: yeah

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[jered_sturm]: um and then we would use those
funds that we would earn from our construction

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[jered_sturm]: company to go buy the worst house
in the neighborhood and just substitute our lack

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[jered_sturm]: of cap with sweat equity and so
nights and weekends we would be working on

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[jered_sturm]: these you know really really beat down
houses and fixing them back up because we

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[jered_sturm]: knew how to fix stuff but we
didn't have a ton of money

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[casey_]: yes

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[jered_sturm]: and so we would do the construction
business during the day nights and weekends fix

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[jered_sturm]: up houses and then we would we
made the wise decision rather than just flip

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[jered_sturm]: them and sell them we actually were
renting them out and then it took us

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[jered_sturm]: i think about three years to go
from one house to eight houses but keep

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[jered_sturm]: in mind this was two thousand eight
to two thousand eleven

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[casey_]: yeah yep

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[jered_sturm]: and i was you know eighteen to
twenty one years old without a w to

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[jered_sturm]: job so there weren't a lot of
lenders jumping out of the out of the

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[jered_sturm]: bushes at me at that time saying
they wanted to lend me money really challenging

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[jered_sturm]: time to borrow so the first eight
houses we had to do all cash so

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[jered_sturm]: save up money delayed gratification don't spend
these big checks that are coming off these

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[jered_sturm]: high end kitchens put it back into
the house by a house fix it up

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[jered_sturm]: cash and then and that wasn't by
choice that was just by we had to

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[jered_sturm]: but then after three years and we
have built up a track record and kind

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[jered_sturm]: of proven out that we operate these
we found

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[casey_]: yeah

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[jered_sturm]: a little local bank that gave us
a blanket loan cash our finance only sixty

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[jered_sturm]: percent leverage but i'll never forget that
day because that was when i felt like

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[jered_sturm]: the snowball really kicked off

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[casey_]: yep

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[jered_sturm]: we were able to start using leverage
and so we we pulled sixty percent of

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[jered_sturm]: the equity out of all these houses
that we had spent three years fixing up

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[jered_sturm]: and then we re deployed it into
ten more houses

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[casey_]: and did

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[jered_sturm]: in

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[casey_]: you at this point

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[jered_sturm]: oh

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[casey_]: not owe anything on those houses that
you had that you fixed up i missed

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[casey_]: that did you if you said that
were you paying cash for the houses like

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[casey_]: all

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[jered_sturm]: yeah

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[casey_]: together yeah

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[jered_sturm]: yeah the first eight we had to
do cash because there was no one willing

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[casey_]: okay

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[jered_sturm]: to lend

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[casey_]: okay i

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[jered_sturm]: you

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[casey_]: didn't

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[jered_sturm]: know

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[casey_]: know if you meant cash for the
principle of it or cash like inject like

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[casey_]: like you were doing all the repairs
guy all right so so you were just

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[jered_sturm]: yeah

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[casey_]: paying cash for these houses from these
high end kitchen remodels basically

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[jered_sturm]: hm

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[casey_]: bundling it up into these single family
residences eight of them then you take the

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[casey_]: eight of them and go to the
bank and say man we've got ex amount

203
00:10:27,067 --> 00:10:30,974
[casey_]: of dollars worth of houses here will
you make us a sixty percent l t

204
00:10:31,094 --> 00:10:33,157
[casey_]: v loan on these houses

205
00:10:32,979 --> 00:10:33,000
[jered_sturm]: m

206
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[casey_]: we own free and clear

207
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[jered_sturm]: correct but i would i would add
just for the for listeners that we did

208
00:10:40,050 --> 00:10:43,055
[jered_sturm]: that process with the first house in
the second house in the third house and

209
00:10:43,095 --> 00:10:47,142
[jered_sturm]: we got no no no we're not
lending to you were in the worst housing

210
00:10:47,202 --> 00:10:49,125
[jered_sturm]: recession we've ever been in our

211
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[casey_]: sure

212
00:10:49,386 --> 00:10:53,593
[jered_sturm]: your nineteen years old you don't have
a job no i'm not lending to you

213
00:10:53,853 --> 00:10:54,035
[casey_]: yeah

214
00:10:54,895 --> 00:10:56,858
[jered_sturm]: and so we tried for three

215
00:10:56,850 --> 00:10:57,482
[casey_]: oh

216
00:10:56,938 --> 00:10:59,483
[jered_sturm]: years to strip the equity out of
our portfolio

217
00:10:59,400 --> 00:10:59,420
[casey_]: m

218
00:11:00,124 --> 00:11:05,972
[jered_sturm]: to accelerate and then eventually we got
one lender who gave us a very conservative

219
00:11:06,032 --> 00:11:09,956
[jered_sturm]: loan on their end but it was
the day the snowball kicked off i'll never

220
00:11:10,196 --> 00:11:12,858
[jered_sturm]: i'll never forget it because it was
just such a large

221
00:11:12,480 --> 00:11:13,170
[casey_]: yeah

222
00:11:13,079 --> 00:11:18,898
[jered_sturm]: check relative to what i had ever
seen but again we just use delayed gratification

223
00:11:19,799 --> 00:11:19,999
[jered_sturm]: and

224
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[casey_]: oh

225
00:11:21,642 --> 00:11:25,449
[jered_sturm]: self discipline to say rather than us
go buy a bunch of things with this

226
00:11:25,609 --> 00:11:31,863
[jered_sturm]: we're going to buy more real estate
investments and then it just really snowballed from

227
00:11:31,904 --> 00:11:35,855
[jered_sturm]: there so it went from single family
houses we bought about seventy single family houses

228
00:11:35,936 --> 00:11:38,201
[jered_sturm]: then we started buying duplex

229
00:11:38,121 --> 00:11:38,263
[casey_]: yeah

230
00:11:38,361 --> 00:11:44,271
[jered_sturm]: is four plexus ten plexus and then
started buying forty unit hundred unit department communities

231
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[jered_sturm]: and we really enjoy the economies of
scale and operational simplicity of

232
00:11:49,321 --> 00:11:49,462
[casey_]: yeah

233
00:11:49,420 --> 00:11:55,472
[jered_sturm]: large apartment buildings so since in twenty
twenty we sold all of our smaller assets

234
00:11:55,633 --> 00:12:00,858
[jered_sturm]: and just focused only on large apartment
communities now but that was i just whipped

235
00:12:00,958 --> 00:12:02,284
[jered_sturm]: through a decade there so

236
00:12:03,381 --> 00:12:07,874
[casey_]: yeah so when did you at what
point so so we just you just basically

237
00:12:07,954 --> 00:12:11,937
[casey_]: gave us a thirty second ten year
time line of

238
00:12:11,762 --> 00:12:11,803
[jered_sturm]: hm

239
00:12:13,950 --> 00:12:17,310
[casey_]: eight seventy dplex

240
00:12:17,409 --> 00:12:17,430
[jered_sturm]: m

241
00:12:17,450 --> 00:12:26,445
[casey_]: quadplex triplex ish stuff than ten plus
units basically right so so your your progression

242
00:12:26,526 --> 00:12:30,758
[casey_]: was basically bigger economies of as you
moved as you moved

243
00:12:30,630 --> 00:12:30,772
[jered_sturm]: yeah

244
00:12:30,818 --> 00:12:36,214
[casey_]: along the line there now with that
being said the reason i lay that time

245
00:12:36,254 --> 00:12:41,202
[casey_]: line out because my next question is
as i ask this i want you to

246
00:12:41,242 --> 00:12:48,415
[casey_]: kind of keep in mind but at
what point did outside capital become either necessary

247
00:12:48,936 --> 00:12:55,201
[casey_]: or a or hey better yet did
it become necessary to continue to grow or

248
00:12:55,281 --> 00:13:03,542
[casey_]: did it become hey weekend do this
and scale higher or better faster what was

249
00:13:03,582 --> 00:13:06,288
[casey_]: the thought process and when did that
happen at what point on that time line

250
00:13:07,599 --> 00:13:07,620
[jered_sturm]: m

251
00:13:07,711 --> 00:13:08,019
[casey_]: yes

252
00:13:08,100 --> 00:13:13,126
[jered_sturm]: eight years in so two thousand sixteen
so the first

253
00:13:13,020 --> 00:13:13,242
[casey_]: okay

254
00:13:13,226 --> 00:13:18,814
[jered_sturm]: eight years did just with our internal
capital then we made the decision to go

255
00:13:18,915 --> 00:13:25,308
[jered_sturm]: into the indication model raise money by
partnering with passive investors to buy larger communities

256
00:13:26,191 --> 00:13:26,232
[jered_sturm]: i

257
00:13:26,230 --> 00:13:26,390
[casey_]: because

258
00:13:26,292 --> 00:13:26,434
[jered_sturm]: think

259
00:13:26,450 --> 00:13:26,530
[casey_]: by

260
00:13:26,515 --> 00:13:26,617
[jered_sturm]: the

261
00:13:26,610 --> 00:13:26,730
[casey_]: that

262
00:13:26,759 --> 00:13:27,083
[jered_sturm]: reason

263
00:13:26,811 --> 00:13:33,181
[casey_]: time the job act had passed in
kind of writing well right because it started

264
00:13:33,241 --> 00:13:37,669
[casey_]: in two thousand twelve two thousand thirteen
right that's kind of when it started looking

265
00:13:38,910 --> 00:13:39,134
[casey_]: oh

266
00:13:39,000 --> 00:13:42,425
[jered_sturm]: it wasn't that wasn't a driver behind
our decision so i'm not

267
00:13:42,510 --> 00:13:42,692
[casey_]: okay

268
00:13:42,546 --> 00:13:42,766
[jered_sturm]: sure

269
00:13:43,176 --> 00:13:43,398
[casey_]: okay

270
00:13:43,407 --> 00:13:43,587
[jered_sturm]: it was

271
00:13:43,762 --> 00:13:43,964
[casey_]: okay

272
00:13:44,789 --> 00:13:48,996
[jered_sturm]: internal need and those those needs are
kind of it was two fold so one

273
00:13:49,998 --> 00:13:54,811
[jered_sturm]: we really enjoy buying the larger apartment
communities but as you can imagine those larger

274
00:13:54,871 --> 00:14:02,057
[jered_sturm]: apartment communities come with larger price tags
and coming from a you know grass roots

275
00:14:02,157 --> 00:14:06,144
[jered_sturm]: organic growth there is only so much
capital so we have to find a way

276
00:14:06,284 --> 00:14:10,071
[jered_sturm]: to inject capital into the business because
we can't buy as many a part communities

277
00:14:10,111 --> 00:14:13,820
[jered_sturm]: as we would like to buy and
scale our business so it did

278
00:14:13,811 --> 00:14:13,993
[casey_]: yeah

279
00:14:13,860 --> 00:14:19,061
[jered_sturm]: have to do with scaling our company
but at the same time i have found

280
00:14:19,121 --> 00:14:24,676
[jered_sturm]: a lot of fulfillment from two thousand
six team to now and in helping other

281
00:14:24,796 --> 00:14:32,259
[jered_sturm]: people grow their wealth through the skills
that i've spent a lot of time acquiring

282
00:14:32,500 --> 00:14:37,508
[jered_sturm]: and so what our core competency is
at s and s is really really good

283
00:14:37,688 --> 00:14:39,191
[jered_sturm]: operations and running

284
00:14:39,101 --> 00:14:39,121
[casey_]: a

285
00:14:39,271 --> 00:14:43,598
[jered_sturm]: these mute families to maximize value and
that's why a lot of our investors are

286
00:14:43,618 --> 00:14:47,845
[jered_sturm]: attracted to us is because they say
well you know that i don't want to

287
00:14:47,885 --> 00:14:52,719
[jered_sturm]: learn that i'll invest with you and
then to see you know their financial freedom

288
00:14:52,819 --> 00:14:58,098
[jered_sturm]: or financial goals come to fruition through
the skills and effort that i put forth

289
00:14:58,138 --> 00:15:02,975
[jered_sturm]: which has become very fulfilling and so
i think it's two things there we did

290
00:15:03,095 --> 00:15:06,026
[jered_sturm]: need the capital to scale the business
but it's also

291
00:15:07,080 --> 00:15:07,347
[casey_]: yes

292
00:15:07,210 --> 00:15:11,534
[jered_sturm]: part of fulfillment in life of like
are you doing good for others and this

293
00:15:11,594 --> 00:15:15,358
[jered_sturm]: is a way that i really can
have a pretty significant impact on a lot

294
00:15:15,398 --> 00:15:15,779
[jered_sturm]: of people

295
00:15:16,460 --> 00:15:21,549
[casey_]: sure sure yeah and it also gives
you the ability to give back and maybe

296
00:15:21,689 --> 00:15:26,458
[casey_]: shorten somebody's time line where yours was
like you said ten or twelve fourteen years

297
00:15:27,260 --> 00:15:27,520
[casey_]: you can

298
00:15:27,476 --> 00:15:28,050
[jered_sturm]: hm

299
00:15:27,600 --> 00:15:33,049
[casey_]: condense that down if you can say
hey skip the duplex like for instance some

300
00:15:33,450 --> 00:15:36,976
[casey_]: i think i almost always feel like
and you can correct me if i'm wrong

301
00:15:37,036 --> 00:15:41,422
[casey_]: because i've been there and but i
always feel like starting with single family residences

302
00:15:41,982 --> 00:15:44,384
[casey_]: is where everybody seems to go because

303
00:15:44,866 --> 00:15:45,360
[jered_sturm]: hm

304
00:15:45,305 --> 00:15:50,110
[casey_]: in a way we migrate to being
the problem solver for like

305
00:15:50,010 --> 00:15:50,850
[jered_sturm]: oh

306
00:15:50,150 --> 00:15:53,776
[casey_]: you said you can install a toilet
or you can have an executive meeting with

307
00:15:53,816 --> 00:15:58,003
[casey_]: ten people who are worth a billion
dollars apiece it's whichever way so you start

308
00:15:58,043 --> 00:16:01,629
[casey_]: with single family residences and maybe you
could even get somebody in there to hey

309
00:16:02,330 --> 00:16:05,736
[casey_]: you can buy past even the single
family residence part or if you have ten

310
00:16:05,796 --> 00:16:09,702
[casey_]: or twelve of those you can buy
past the duplex triplex quadplex scenario

311
00:16:09,779 --> 00:16:10,290
[jered_sturm]: hm

312
00:16:09,803 --> 00:16:16,371
[casey_]: and goes right into ten plus units
um kind of just is balance whatever somebody

313
00:16:16,451 --> 00:16:21,580
[casey_]: wants so i love that now the
one i want to go back and dig

314
00:16:21,720 --> 00:16:27,049
[casey_]: into one part of this because the
psychology behind delayed gratification

315
00:16:26,739 --> 00:16:26,760
[jered_sturm]: m

316
00:16:27,550 --> 00:16:33,188
[casey_]: is something that i don't think a
lot of people really pay attention to and

317
00:16:34,140 --> 00:16:39,649
[casey_]: when you delay that gratificai i'm assuming
you're talking about hey not saying not stopping

318
00:16:39,709 --> 00:16:43,836
[casey_]: and saying to yourself damn we just
bought a ten net complex let's go and

319
00:16:43,896 --> 00:16:49,173
[casey_]: let's gratify ourself let's make things uh
i mean i guess that's what i'm assuming

320
00:16:49,193 --> 00:16:52,873
[casey_]: you're talking about but is that i'm
on the right line there because i like

321
00:16:52,933 --> 00:16:55,958
[casey_]: that term i'm just trying to put
something with it

322
00:16:57,070 --> 00:16:57,614
[jered_sturm]: yeah i think

323
00:16:57,570 --> 00:16:58,170
[casey_]: yeah

324
00:16:57,674 --> 00:17:05,933
[jered_sturm]: it is a a valuable trait that
all of us have at different spots on

325
00:17:05,993 --> 00:17:07,938
[jered_sturm]: that spectrum that's something

326
00:17:07,708 --> 00:17:08,280
[casey_]: hm

327
00:17:07,979 --> 00:17:12,977
[jered_sturm]: that i think me and my brother
were just raised with and even it's just

328
00:17:14,020 --> 00:17:19,548
[jered_sturm]: you have to to forego something good
now for something better in the future

329
00:17:20,360 --> 00:17:20,521
[casey_]: okay

330
00:17:20,440 --> 00:17:25,221
[jered_sturm]: and the question is do you have
the discipline to wait um m and the

331
00:17:25,361 --> 00:17:26,786
[jered_sturm]: faith that you'll be able to

332
00:17:27,660 --> 00:17:28,513
[casey_]: yes

333
00:17:27,990 --> 00:17:29,396
[jered_sturm]: see that come to fouritian

334
00:17:30,350 --> 00:17:30,491
[casey_]: yep

335
00:17:30,540 --> 00:17:33,726
[jered_sturm]: and that's something that were just naturally
pretty good at i think just through our

336
00:17:33,786 --> 00:17:38,515
[jered_sturm]: upbringing and so yes it was when
we when we did that cash out re

337
00:17:38,615 --> 00:17:43,851
[jered_sturm]: finance and we had six figure check
sitting in front of us when i was

338
00:17:44,514 --> 00:17:49,415
[jered_sturm]: twenty one years old what do we
decide to do with it right it could

339
00:17:49,435 --> 00:17:56,326
[jered_sturm]: have been buy the super nice car
go go upgrade our own house and you

340
00:17:56,547 --> 00:17:58,770
[jered_sturm]: have a whole new wardrobe no i

341
00:17:58,880 --> 00:17:59,004
[casey_]: yep

342
00:17:58,890 --> 00:18:03,134
[jered_sturm]: kept buying the thrift store clothes i
lived in the house with the six other

343
00:18:03,174 --> 00:18:07,857
[jered_sturm]: guys i lived with i drove the
old dodram and i bought ten more rentals

344
00:18:08,538 --> 00:18:08,638
[jered_sturm]: and

345
00:18:08,570 --> 00:18:08,712
[casey_]: yep

346
00:18:08,698 --> 00:18:14,987
[jered_sturm]: so the question is are you willing
to forego the benefit now for more benefit

347
00:18:15,067 --> 00:18:18,312
[jered_sturm]: later and i'll sum it up in
a quote that i don't know who said

348
00:18:18,372 --> 00:18:21,618
[jered_sturm]: it but i've heard it over the
years as i've always said i'm willing to

349
00:18:21,698 --> 00:18:25,727
[jered_sturm]: live like most peopl won't so that
one day i can live like most people

350
00:18:25,867 --> 00:18:27,440
[jered_sturm]: can't and

351
00:18:27,502 --> 00:18:27,662
[casey_]: yep

352
00:18:27,540 --> 00:18:31,989
[jered_sturm]: i'm very fortunate i feel like i
have reached the second part of that story

353
00:18:32,818 --> 00:18:32,960
[casey_]: yes

354
00:18:32,970 --> 00:18:37,178
[jered_sturm]: now in my life because i'm i'm
very happy to say i have enough like

355
00:18:37,238 --> 00:18:37,278
[jered_sturm]: i

356
00:18:37,562 --> 00:18:37,686
[casey_]: yep

357
00:18:38,320 --> 00:18:42,956
[jered_sturm]: i'm constantly reminding myself of that like
i have enough now my growth is for

358
00:18:43,077 --> 00:18:50,121
[jered_sturm]: the the fulfillment of progression and not
because i have to reinvest it

359
00:18:51,260 --> 00:18:51,401
[casey_]: yep

360
00:18:51,363 --> 00:18:53,306
[jered_sturm]: so anyway that's that's how i would

361
00:18:53,340 --> 00:18:53,628
[casey_]: oh

362
00:18:53,347 --> 00:18:54,489
[jered_sturm]: sum up delay gratification

363
00:18:55,233 --> 00:19:01,527
[casey_]: man i think that's and i think
that again it's something that people don't put

364
00:19:01,587 --> 00:19:08,742
[casey_]: enough effort into focusing on saying hey
you know when i was in the single

365
00:19:08,782 --> 00:19:12,648
[casey_]: family side i was a little bit
the same way people people would say well

366
00:19:12,669 --> 00:19:16,375
[casey_]: how many earls you got now i
don't know i would say thirty thirty five

367
00:19:16,455 --> 00:19:19,520
[casey_]: forty or something like that and people
would just like it would just blow away

368
00:19:19,620 --> 00:19:23,707
[casey_]: and i'm like look look listen that's
cool and i'm glad you're impressed but i'm

369
00:19:23,767 --> 00:19:30,398
[casey_]: not let's go let's get up and
keep moving forward and that's i think so

370
00:19:30,458 --> 00:19:33,905
[casey_]: many people turn aroun focus on the
way back and i think that also leads

371
00:19:34,025 --> 00:19:38,503
[casey_]: to oh my god i've got to
go borrow a million or five million i

372
00:19:38,523 --> 00:19:41,568
[casey_]: mean these are numbers that people you
know when you're going to borrow that much

373
00:19:41,649 --> 00:19:46,897
[casey_]: money these are numbers that people automatically
put a capital like they put they put

374
00:19:46,957 --> 00:19:50,263
[casey_]: a capital attitude toward like i'm going
to borrow or you're going to borrow five

375
00:19:50,323 --> 00:19:54,109
[casey_]: million dollars what that's crazy that's that's
how are you ever going to pay that

376
00:19:54,169 --> 00:19:57,014
[casey_]: back well listen to me this is
how i'm going to pay it back and

377
00:19:57,074 --> 00:20:01,463
[casey_]: i think a lot of that is
this it's a psychological shift that has to

378
00:20:01,523 --> 00:20:04,060
[casey_]: happen when people start realizing o he's
buying

379
00:20:03,892 --> 00:20:04,036
[jered_sturm]: yeah

380
00:20:04,100 --> 00:20:07,346
[casey_]: an asset that brings in monthly income
and then he's going to take that monthly

381
00:20:07,446 --> 00:20:09,549
[casey_]: income and he's going to make the
payment and then he's going to have something

382
00:20:09,589 --> 00:20:10,851
[casey_]: left over i mean that's the

383
00:20:11,880 --> 00:20:12,106
[jered_sturm]: my

384
00:20:12,454 --> 00:20:15,279
[casey_]: and once you figure that part out
it makes sense but i think it all

385
00:20:15,379 --> 00:20:21,808
[casey_]: starts with stop being impressed with yourself
and stop being impressed with what you're doing

386
00:20:21,888 --> 00:20:27,258
[casey_]: and look forward because the next deal
is what matters and then like you said

387
00:20:28,390 --> 00:20:31,241
[casey_]: getting to a point in life where
you have enough i love that man that

388
00:20:31,342 --> 00:20:37,771
[casey_]: that's that's killer because you know sometimes
i wonder myself if that will ever happen

389
00:20:37,831 --> 00:20:40,794
[casey_]: like if i'll ever be like man
this is i'm good i'm good

390
00:20:40,710 --> 00:20:40,730
[jered_sturm]: m

391
00:20:40,994 --> 00:20:43,556
[casey_]: you know we get another hundred units
at school if we get another thousand it

392
00:20:43,596 --> 00:20:51,960
[casey_]: that's even awesome and if we don't
whatever so that that's that's awesome so let's

393
00:20:52,000 --> 00:20:54,344
[casey_]: talk a little bit about where your
business is now i know you told us

394
00:20:54,384 --> 00:20:59,773
[casey_]: how how many what a um you
have but what what is the what's the

395
00:20:59,833 --> 00:21:02,378
[casey_]: foresight here what are we what are
we looking at what do you got going

396
00:21:02,418 --> 00:21:02,798
[casey_]: on right now

397
00:21:04,460 --> 00:21:09,910
[jered_sturm]: well the markets as you mentioned or
this is a nation wide comment but are

398
00:21:09,990 --> 00:21:10,831
[jered_sturm]: just highly

399
00:21:10,691 --> 00:21:10,853
[casey_]: yes

400
00:21:10,871 --> 00:21:13,395
[jered_sturm]: competitive right there's a lot of capital
chasing yield

401
00:21:14,310 --> 00:21:14,970
[casey_]: yeah

402
00:21:14,798 --> 00:21:21,449
[jered_sturm]: were remaining really did ciplined with our
core competency of operations were very focused on

403
00:21:21,629 --> 00:21:26,758
[jered_sturm]: one market which is cincinnati ohio which
means there's less assets to go after and

404
00:21:27,058 --> 00:21:31,472
[jered_sturm]: only so many trans actions and so
there's times where we'll go you know fifteen

405
00:21:31,552 --> 00:21:38,743
[jered_sturm]: months in between acquiring anything that's fine
we just stay disciplined to what we're looking

406
00:21:38,843 --> 00:21:44,533
[jered_sturm]: for in our investment philosophy is always
to invest for consistent predictable cash flow and

407
00:21:44,613 --> 00:21:44,853
[jered_sturm]: really

408
00:21:44,830 --> 00:21:44,972
[casey_]: yeah

409
00:21:44,974 --> 00:21:51,153
[jered_sturm]: from the first house to the most
recent thirteen million dollar multi family that we

410
00:21:51,233 --> 00:21:56,241
[jered_sturm]: bought the business model has been exactly
the same so we haven't re invented anything

411
00:21:56,342 --> 00:22:03,394
[jered_sturm]: it's buy something that we can force
appreciation into usually through construction and better property

412
00:22:03,454 --> 00:22:08,142
[jered_sturm]: management and then we strip the equity
out of that after we force the appreciation

413
00:22:08,202 --> 00:22:11,768
[jered_sturm]: and then we re invest that into
another project so it's it's

414
00:22:12,840 --> 00:22:12,961
[casey_]: ye

415
00:22:13,050 --> 00:22:18,019
[jered_sturm]: not a highly sophisticated model but it's
a very proven one not just for me

416
00:22:17,962 --> 00:22:18,105
[casey_]: sir

417
00:22:18,179 --> 00:22:23,768
[jered_sturm]: but from tons and tons of financially
successful people so we just do that over

418
00:22:23,808 --> 00:22:27,415
[jered_sturm]: and over a kind of stay in
our lane right we know that incinnadiohio

419
00:22:26,891 --> 00:22:27,012
[casey_]: eh

420
00:22:27,495 --> 00:22:31,562
[jered_sturm]: market we know our operations and that's
where we're kind of staying put because the

421
00:22:31,602 --> 00:22:35,148
[jered_sturm]: pricing is so competitive you don't want
to get outside your lane and make a

422
00:22:35,188 --> 00:22:35,489
[jered_sturm]: mistake

423
00:22:36,790 --> 00:22:41,278
[casey_]: now if you want to talk a
little bit about stripping the equity because that's

424
00:22:41,358 --> 00:22:44,932
[casey_]: such a that's such a crux like
like that's that

425
00:22:44,781 --> 00:22:44,821
[jered_sturm]: m

426
00:22:45,132 --> 00:22:49,357
[casey_]: ends up being this is where our
business model works okay because if you en't

427
00:22:49,377 --> 00:22:54,364
[casey_]: striping the equity and re investing it
makes it difficult so with the stripping of

428
00:22:54,404 --> 00:22:58,971
[casey_]: the equity obviously that includes a refinarefi
of some kind i assume

429
00:22:59,902 --> 00:22:59,922
[jered_sturm]: h

430
00:23:00,033 --> 00:23:00,394
[casey_]: and

431
00:23:00,669 --> 00:23:00,690
[jered_sturm]: m

432
00:23:01,435 --> 00:23:05,463
[casey_]: when you ref do your outside invest
or stay in do you just pay them

433
00:23:05,504 --> 00:23:06,145
[casey_]: back and say hey

434
00:23:06,810 --> 00:23:07,072
[jered_sturm]: oh

435
00:23:06,827 --> 00:23:12,911
[casey_]: thanks for your money what or obviously
you're going to split there's a back in

436
00:23:12,971 --> 00:23:15,294
[casey_]: split of some kind i assume but
what

437
00:23:15,192 --> 00:23:15,720
[jered_sturm]: hm

438
00:23:16,116 --> 00:23:17,999
[casey_]: what explained that part of the process

439
00:23:18,750 --> 00:23:26,679
[jered_sturm]: yeah well i'll start by saying the
cincinnatio cincinnati ohio market is very caters to

440
00:23:26,779 --> 00:23:31,507
[jered_sturm]: our investment philosophy of consistent predictable cash
flow so it's a good cash flow market

441
00:23:33,120 --> 00:23:33,302
[casey_]: oh

442
00:23:33,430 --> 00:23:38,939
[jered_sturm]: and the majority of the time when
we're presenting investment opportunities to our investors we

443
00:23:38,910 --> 00:23:39,690
[casey_]: oh

444
00:23:39,179 --> 00:23:43,687
[jered_sturm]: underrate without the re finance event in
there because we don't know what the real

445
00:23:43,727 --> 00:23:48,376
[jered_sturm]: estate or debt markets will look in
three to four years when we finally stabilized

446
00:23:48,417 --> 00:23:48,998
[jered_sturm]: these assets

447
00:23:49,687 --> 00:23:50,220
[casey_]: hm

448
00:23:49,820 --> 00:23:52,864
[jered_sturm]: so when our investors are coming in
we're saying this is what it will look

449
00:23:52,964 --> 00:23:53,184
[jered_sturm]: like

450
00:23:53,670 --> 00:23:54,669
[casey_]: yea

451
00:23:53,905 --> 00:23:59,642
[jered_sturm]: if we don't strip the equity would
you like to participate and then if the

452
00:23:59,682 --> 00:24:04,028
[jered_sturm]: real estate in detmarket support or re
finance we will absolutely pursue it and return

453
00:24:04,108 --> 00:24:04,669
[jered_sturm]: your capital

454
00:24:04,710 --> 00:24:04,871
[casey_]: yeah

455
00:24:06,000 --> 00:24:10,864
[jered_sturm]: now and then to answer your question
on what happens when the re finance happens

456
00:24:10,884 --> 00:24:16,640
[jered_sturm]: because we've been very fortunate that all
of our indications have been able to return

457
00:24:16,861 --> 00:24:21,068
[jered_sturm]: capital to investors through re finance events
because the real estate market has been very

458
00:24:21,128 --> 00:24:26,116
[jered_sturm]: favorable and debt rates have been very
favorable when that happens ownership stays the exact

459
00:24:26,216 --> 00:24:32,807
[jered_sturm]: same so on our high level what
our structure is is seventy thirty split of

460
00:24:32,887 --> 00:24:37,134
[jered_sturm]: equity seventy percent of the limited partners
thirty percent to the general partners with an

461
00:24:37,194 --> 00:24:40,883
[jered_sturm]: eight percent prefer return so when if
someone

462
00:24:40,702 --> 00:24:40,722
[casey_]: a

463
00:24:40,943 --> 00:24:45,351
[jered_sturm]: invests a hundred thousand dollars and we
do a re finance in year three and

464
00:24:45,391 --> 00:24:45,471
[jered_sturm]: we

465
00:24:45,429 --> 00:24:45,450
[casey_]: m

466
00:24:45,571 --> 00:24:49,938
[jered_sturm]: return a hundred thousand dollars back to
that investor they still own the same exact

467
00:24:50,039 --> 00:24:55,368
[jered_sturm]: percentage of that entity that owns the
real estate and will continue to get the

468
00:24:55,428 --> 00:24:59,495
[jered_sturm]: tax benefits in cash flow from that
asset so our thought is it's

469
00:24:59,430 --> 00:25:00,270
[casey_]: yeah

470
00:24:59,555 --> 00:25:04,003
[jered_sturm]: an equity investment they should share in
the upside and share in it after the

471
00:25:06,067 --> 00:25:06,769
[jered_sturm]: fourth appreciation

472
00:25:06,692 --> 00:25:11,600
[casey_]: now do you all have so i've
heard of this i've heard of this model

473
00:25:12,101 --> 00:25:13,463
[casey_]: several times and i always

474
00:25:13,500 --> 00:25:13,520
[jered_sturm]: m

475
00:25:13,504 --> 00:25:18,495
[casey_]: had the same question so obviously and
i've heard actually some people call it infinite

476
00:25:18,515 --> 00:25:21,525
[casey_]: returns um you know obviously

477
00:25:21,219 --> 00:25:21,240
[jered_sturm]: m

478
00:25:21,565 --> 00:25:27,244
[casey_]: that could be that's definitely up pinch
between being true marketing or not i mean

479
00:25:27,544 --> 00:25:34,716
[casey_]: infinite returns obviously is infinite but what
eventually something has to happen is that asset

480
00:25:35,337 --> 00:25:39,844
[casey_]: on your outlook are you all looking
to sell that asset at at a given

481
00:25:39,924 --> 00:25:44,201
[casey_]: time and or does the investor just
stay in it does does everything just move

482
00:25:44,241 --> 00:25:44,503
[casey_]: along

483
00:25:45,360 --> 00:25:48,105
[jered_sturm]: yea at our size

484
00:25:49,170 --> 00:25:50,070
[casey_]: yeah

485
00:25:49,308 --> 00:25:54,518
[jered_sturm]: we are not able to confidently raise
capital with an indefinite date on it

486
00:25:55,010 --> 00:25:55,153
[casey_]: yeah

487
00:25:55,740 --> 00:26:00,909
[jered_sturm]: so you know i'm sitting here in
my thirties so a ten year horizon sounds

488
00:26:00,989 --> 00:26:05,477
[jered_sturm]: fun but when i go to someone
maybe in their seventies and say it's indefinite

489
00:26:05,897 --> 00:26:10,751
[jered_sturm]: that's not really as attractive them so
what we have found is again our investment

490
00:26:10,791 --> 00:26:14,758
[jered_sturm]: philosophy is for consistent predictable cash flow
i think the way you achieve that is

491
00:26:14,798 --> 00:26:17,883
[jered_sturm]: by owning real estate and operating it
for the long term

492
00:26:18,517 --> 00:26:19,050
[casey_]: hm

493
00:26:18,824 --> 00:26:25,254
[jered_sturm]: the balance between those two things of
consistent predict cash low and acknowledging that investors

494
00:26:25,334 --> 00:26:26,758
[jered_sturm]: eventually want their capital back

495
00:26:27,800 --> 00:26:27,941
[casey_]: yep

496
00:26:27,800 --> 00:26:32,294
[jered_sturm]: all of all of the projects that
we've put together have had a ten year

497
00:26:32,395 --> 00:26:34,330
[jered_sturm]: time horizon on them so a lot

498
00:26:34,322 --> 00:26:34,526
[casey_]: okay

499
00:26:34,370 --> 00:26:38,517
[jered_sturm]: of times what we able to do
is buy the asset re position it and

500
00:26:38,557 --> 00:26:42,504
[jered_sturm]: then hit a re finance in year
two or three and then continue to own

501
00:26:42,604 --> 00:26:46,418
[jered_sturm]: it for another seven to eight years
and then sell that asset

502
00:26:47,210 --> 00:26:47,413
[casey_]: okay

503
00:26:47,251 --> 00:26:53,217
[jered_sturm]: um there's goin to be times where
the investor pool might be smaller and then

504
00:26:53,278 --> 00:26:57,304
[jered_sturm]: everyone says let's just keep the party
going and we don't want to sell or

505
00:26:57,384 --> 00:27:02,860
[jered_sturm]: maybe there's twenty investors and two one
and eighteen want to stay in at that

506
00:27:02,920 --> 00:27:06,468
[jered_sturm]: time i most likely would just step
up and buy those two people out and

507
00:27:06,591 --> 00:27:06,753
[casey_]: sure

508
00:27:06,608 --> 00:27:10,035
[jered_sturm]: give them the funds that they wanted
and we continue to own it because my

509
00:27:10,196 --> 00:27:16,808
[jered_sturm]: personal preference is my personal thought is
the way you build wealth is by owning

510
00:27:16,888 --> 00:27:18,634
[jered_sturm]: real estate not by selling it so

511
00:27:19,243 --> 00:27:25,377
[casey_]: oh yeah absolutely um there's there's people
that i ran across the most of the

512
00:27:25,417 --> 00:27:28,341
[casey_]: time it's in the agricultural world um
like

513
00:27:28,263 --> 00:27:28,830
[jered_sturm]: hm

514
00:27:28,642 --> 00:27:31,947
[casey_]: there's no because people get attached to
family farms and stuff so that's part of

515
00:27:31,988 --> 00:27:36,956
[casey_]: the psychology there there's other people who
are farmers who buy farms and there's no

516
00:27:37,036 --> 00:27:37,296
[casey_]: price

517
00:27:37,142 --> 00:27:37,162
[jered_sturm]: m

518
00:27:37,357 --> 00:27:42,585
[casey_]: on them none no i mean well
mean back up there's not a reasonable price

519
00:27:42,665 --> 00:27:43,306
[casey_]: on them at all

520
00:27:43,860 --> 00:27:43,880
[jered_sturm]: m

521
00:27:45,591 --> 00:27:49,341
[casey_]: so you know definitely that's a philosophy
that that if you're going to buy to

522
00:27:49,401 --> 00:27:56,165
[casey_]: grow or buy for capital events that
you definitely have to decide that model so

523
00:27:56,645 --> 00:27:59,650
[casey_]: awesome well listen jared i appreciate your
taking the time to be with us man

524
00:27:59,690 --> 00:28:02,215
[casey_]: and we've got a couple of questions
that we ask

525
00:28:02,084 --> 00:28:02,165
[jered_sturm]: ah

526
00:28:02,295 --> 00:28:06,124
[casey_]: every guest that comes on the show
and the first those questions is what is

527
00:28:06,164 --> 00:28:08,876
[casey_]: the best book that you've recently read
or are currently reading

528
00:28:10,220 --> 00:28:10,420
[jered_sturm]: uh

529
00:28:10,432 --> 00:28:10,577
[casey_]: yeah

530
00:28:11,161 --> 00:28:16,630
[jered_sturm]: i listen to audio books that's my
preference currently listening to good to grate i

531
00:28:16,670 --> 00:28:20,486
[jered_sturm]: think it's a one that a lot
of business people have heard of

532
00:28:21,330 --> 00:28:21,552
[casey_]: yeah

533
00:28:21,871 --> 00:28:24,641
[jered_sturm]: and i just never gotten around to
listen to i'm listening to it now it's

534
00:28:24,721 --> 00:28:29,784
[jered_sturm]: pretty interesting don't know if i would
say that's the best one i've ever read

535
00:28:29,824 --> 00:28:31,628
[jered_sturm]: but that is the one i'm currently
listening to

536
00:28:32,500 --> 00:28:37,486
[casey_]: awesome awesome all right well the next
question what is a dream vacation that you

537
00:28:37,526 --> 00:28:38,988
[casey_]: have either taken or hoped to take

538
00:28:40,741 --> 00:28:43,611
[jered_sturm]: i am when i have vacation

539
00:28:43,419 --> 00:28:43,440
[casey_]: m

540
00:28:43,911 --> 00:28:49,320
[jered_sturm]: i i do a lot of planning
and structure and visionary work at our company

541
00:28:49,801 --> 00:28:53,547
[jered_sturm]: so when i vacation i don't want
to plan i don't want to do any

542
00:28:53,567 --> 00:28:53,988
[jered_sturm]: of that stuff

543
00:28:54,420 --> 00:28:54,541
[casey_]: yep

544
00:28:54,429 --> 00:28:57,975
[jered_sturm]: and so i like crew ships because
all you have to do is get on

545
00:28:58,035 --> 00:28:59,618
[jered_sturm]: to the boat and then you're basically

546
00:28:59,180 --> 00:28:59,301
[casey_]: yep

547
00:28:59,718 --> 00:28:59,938
[jered_sturm]: done

548
00:29:00,660 --> 00:29:01,410
[casey_]: yeah

549
00:29:01,040 --> 00:29:05,648
[jered_sturm]: so you don't have to worry about
meals or ober or car rentals or anything

550
00:29:05,668 --> 00:29:06,369
[jered_sturm]: you just get on the

551
00:29:06,300 --> 00:29:06,462
[casey_]: sure

552
00:29:06,409 --> 00:29:12,559
[jered_sturm]: boat you've done your part and so
i've taken quite a few cruises and i

553
00:29:12,639 --> 00:29:14,923
[jered_sturm]: have a five year old and a
one year old and they

554
00:29:14,950 --> 00:29:15,171
[casey_]: oh

555
00:29:14,963 --> 00:29:16,726
[jered_sturm]: can accommodate kids as well

556
00:29:17,319 --> 00:29:17,480
[casey_]: yeah

557
00:29:17,447 --> 00:29:22,886
[jered_sturm]: and so a crew ship with a
big room to accommodate kids is my ideal

558
00:29:22,946 --> 00:29:23,368
[jered_sturm]: vacation

559
00:29:24,340 --> 00:29:29,989
[casey_]: awesome an that's great well sweet so
listen if somebody heard something that resonated with

560
00:29:30,049 --> 00:29:34,156
[casey_]: them or maybe they even want to
discuss being an investor because they love the

561
00:29:34,216 --> 00:29:38,432
[casey_]: cincinnati market or whatever what is the
best way for people to get in touch

562
00:29:38,472 --> 00:29:38,693
[casey_]: with you

563
00:29:40,461 --> 00:29:44,007
[jered_sturm]: through our website there's plenty of once
you're on the website there's plenty of ways

564
00:29:44,087 --> 00:29:47,493
[jered_sturm]: to get in touch with me or
someone on our team but our website is

565
00:29:47,853 --> 00:29:53,847
[jered_sturm]: s n s capital group so that's
three letters sam nancy sam capital group dot

566
00:29:53,907 --> 00:29:54,108
[jered_sturm]: com

567
00:29:54,860 --> 00:29:59,367
[casey_]: awesome awesome man thank you so much
again thank you for being on the show

568
00:29:59,487 --> 00:30:03,614
[casey_]: today we really appreciate it on other
listeners there was tons of stuff in there

569
00:30:03,654 --> 00:30:05,077
[casey_]: that people can relate to because

570
00:30:05,550 --> 00:30:06,360
[jered_sturm]: oh

571
00:30:06,018 --> 00:30:10,864
[casey_]: man just just ultimately when it comes
down to exactly who you are what you

572
00:30:11,004 --> 00:30:14,688
[casey_]: are it's just you have a form
of grit about you that just says hey

573
00:30:14,908 --> 00:30:19,614
[casey_]: i'm going to get this done and
i'm going to learn from it and then

574
00:30:20,075 --> 00:30:23,962
[casey_]: after that i'm going to leverage what
i learned and move up to the next

575
00:30:24,042 --> 00:30:28,008
[casey_]: notch and and again i think i
think there's there's tons of lessons to be

576
00:30:28,048 --> 00:30:34,119
[casey_]: taken just that simple scenario that i
just basically summarized your your whole first twenty

577
00:30:34,179 --> 00:30:38,145
[casey_]: years in the business or ten years
fifteen years in the business as so um

578
00:30:37,989 --> 00:30:38,010
[jered_sturm]: m

579
00:30:39,027 --> 00:30:44,095
[casey_]: it's always about moving up getting better
and doing what you're doing today better tomorrow

580
00:30:44,155 --> 00:30:47,982
[casey_]: so i can't thank you enough for
that jared and thank you so much listeners

581
00:30:48,242 --> 00:30:52,509
[casey_]: as always please head down and as
i stated earlier leave us a review leave

582
00:30:52,549 --> 00:30:57,157
[casey_]: us ive star review we really really
would appreciate that and don't forget to hit

583
00:30:57,197 --> 00:31:01,765
[casey_]: that subscribe button because you want to
be notified when we release new episodes and

584
00:31:01,945 --> 00:31:05,053
[casey_]: again i want to thank everybody for
your time jerry thank you and i hope

585
00:31:05,094 --> 00:31:07,231
[casey_]: everybody is a wonderful rest of the
day yeah

586
00:31:07,634 --> 00:31:07,900
[jered_sturm]: thank you

587
00:31:07,897 --> 00:31:08,160
[casey_]: yeah

588
00:31:07,961 --> 00:31:08,227
[jered_sturm]: casey