Maximize Your Capital Raising Journey with Lee Yoder

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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 le yoder of three threefold

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[casey_]: real

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[lee_yoder]: i

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[casey_]: estate sorry i got

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[lee_yoder]: and bob

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[casey_]: tongue tangled there for a minute but
threefold real estate so before i bring le

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[casey_]: in and introduce him listeners i would
like to to please kindly go down and

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[casey_]: leave us a review of our podcast
and also after you done listening to the

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[casey_]: episode type a review so that others
may know what you like about the cash

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[casey_]: flor podcast and while you're there smash
that subscribe button because you want to be

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[casey_]: first in line when we release new
content and we release new interviews with folks

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[casey_]: just like lee who can each you
how to continue your capital raising journey and

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[casey_]: how you can maximize what you are
doing so lee welcome to the show how

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[casey_]: are you today

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[lee_yoder]: i'm doing great casey excited to be
on man thanks for having me

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[casey_]: absolutely

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[lee_yoder]: yeah

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[casey_]: man we're glad to have you here
and we're glad to get your take on

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[casey_]: real estate indication and capital raising i
know prior to the show we were talking

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[casey_]: a lot about coaching and and different
programs that both of us are kind of

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[casey_]: volved in and and and master minds
that we're in and i really want to

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[casey_]: just take a moment before you start
and point out the importance of master minds

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[casey_]: i'm not here to sell

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[lee_yoder]: oh

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[casey_]: my aunt ants or the listeners any

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[lee_yoder]: yah

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[casey_]: master minds at all necessarily need specific
ones because different folks fit into different categories

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[casey_]: and different master minds but the goal
with what i'm saying here is to get

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[casey_]: out and find a master mind find
a mentor find somebody that can help you

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[casey_]: along your journey because everybody looks at
it as hey i'm paying this guy would

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[casey_]: you say three this is three grand
and that's not just like you're not just

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[casey_]: like paying this guy three grand so
that he can tell you how good you

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[casey_]: are and how good looking you are
and things like that it's not wasted money

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[casey_]: it is exact what we are trying
to get people to do that is an

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[casey_]: investment it just so happens to be
an investment in yourself so with that being

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[casey_]: said

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[lee_yoder]: yeah

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[casey_]: lee i just i really wanted to
give you a little aclaides there on taking

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[casey_]: that that part of it and saying
hey you know michael jordan up to the

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[casey_]: very last day that he played basketball
had a coach right and

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[lee_yoder]: right

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[casey_]: so

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[lee_yoder]: oh yeah

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[casey_]: if we can't learn

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[lee_yoder]: yep

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[casey_]: from that then i can't help you

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[lee_yoder]: yeah

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[casey_]: so

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[lee_yoder]: oh

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[casey_]: but tell us about yourself and and
where you come from and how you got

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[casey_]: started in this hold real estate business

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[lee_yoder]: yeah sure case so i'm a physical
therapist by trade so went to school for

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[lee_yoder]: a really long time had to go
seven years of college three years of grad

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[lee_yoder]: school get my doctor in physical therapy
and came out surging that for a while

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[lee_yoder]: got into home health physical therapy my
wife and i were starting our family at

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[lee_yoder]: the time um home health physical therapy
you know i'm driving around to older folks

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[lee_yoder]: home ms and you know doing therapy
in their homes bcausethey can't get out to

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[lee_yoder]: a clinic and so i had a
ton of flexibility and like no stress really

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[lee_yoder]: easy job to be honest with you
i just my patients on my phone i

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[lee_yoder]: would call them you know schedule them
so i could get a day or half

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[lee_yoder]: day off like any time i wanted
nobody would ask any questions

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[casey_]: sure

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[lee_yoder]: you know making enough money for the
family so my life loved this job it

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[lee_yoder]: was great for the family but no
i was just really really bored after a

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[lee_yoder]: year of doing it just felt like
man this is not what god called me

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[lee_yoder]: to because i'm bored i'm not fulfilled
i'm not challenged so the company i was

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[lee_yoder]: with i didn't really know what and
i came on with the they were a

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[lee_yoder]: start up company they were actually a
staffing company they brought me in house like

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[lee_yoder]: in the office to the actor as
a clinical director nd then i kind of

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[lee_yoder]: moved more into a directive operations role
and so pretty quickly i was doing no

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[lee_yoder]: physical therapy for them you know i
did it in the field for a year

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[lee_yoder]: and then you know

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[casey_]: ah

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[lee_yoder]: man maybe like another three months and
i'm in the office full time and like

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[lee_yoder]: i said i'm kind of doing like
a director operations role helping build this division

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[lee_yoder]: within their start up come and i
was loving it just did not miss the

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[lee_yoder]: therapy at all enjoyed you know working
with numbers forecasting projecting you know kind of

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[lee_yoder]: like similar like underwriting that you know
do now

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[casey_]: sure

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[lee_yoder]: and didn't suffer for real state so
i was like man i love this but

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[lee_yoder]: you know and so i did that
for a couple of years casey but now

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[lee_yoder]: i'm kind of on the opposite side
of tings because now my my work is

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[lee_yoder]: really challenging and feeling and exciting you
know i like my work but now i

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[lee_yoder]: very little flexibility i mean this was
you know covid so like it was all

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[lee_yoder]: about being in the office as much
as possible i mean just that's how you

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[lee_yoder]: show your lawyer to the company that's
how you climb the corporate ladder is like

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[lee_yoder]: how all inter you on this company
especially like the start up like who's going

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[lee_yoder]: to help us blow this thing up
and you show that by just being committed

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[lee_yoder]: be in the office so that was
kind of the pressure i felt so now

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[lee_yoder]: you know we got two young kids
at home my wife was in r n

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[lee_yoder]: but just working prend she was mostly
home with the kids you know like any

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[lee_yoder]: time i'm working over time she's working
over time with the kids right so

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[casey_]: sure

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[lee_yoder]: i just felt like man i don't
know if this is what god's called me

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[lee_yoder]: to either because you know i really
do want to prioritize my life my kids

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[lee_yoder]: i mean my faith also and it
felt like with this company and climbing the

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[lee_yoder]: corporate ladder and being the start of
hel's like that had to be my priority

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[lee_yoder]: so started and then you know as
is the case you know a lot of

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[lee_yoder]: times with corporate just kind of felt
like the goal post kept getting moved as

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[lee_yoder]: well where it was like manly if
you just do this and do this and

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[lee_yoder]: for another year or two like you're
going to be here and then year or

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[lee_yoder]: two goes by and it's like well
that's not exactly what we met like man

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[lee_yoder]: but another couple of years and you'll
be there so started kind of looking around

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[lee_yoder]: you know what might be my next
step you know buddy of mine he's actually

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[lee_yoder]: my business partner today hand me a
real estate book end up reading rich dad

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[lee_yoder]: for ad as well so kind of
went down this rabbit hole and just you

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[lee_yoder]: what that book does for so many
people did for me it was like okay

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[lee_yoder]: there's this whole other game out there
because before i read that book case and

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[lee_yoder]: you know i talked to a lot
of people to talking to pepe that were

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[lee_yoder]: doing real estate full time and just
you know tring learn from people but i

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[lee_yoder]: felt like either i go back to
home health physical therapy and do a boring

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[lee_yoder]: job but great for my family or
i stay in this job that i really

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[lee_yoder]: enjoy but it's bad for my family
and it felt like those are my two

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[lee_yoder]: choices but reading rich that poor dad
talking to other people who were out doing

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[lee_yoder]: different things like like being entrepreneurs running
their own business in real estate full time

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[lee_yoder]: it was like all right there's there's
i have more than just two options so

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[lee_yoder]: what i decided to do casey was
i left the corporate job i went back

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[lee_yoder]: to home health physical therapy which was
job that paid the bills you know it

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[lee_yoder]: was nice and sad he gave us
health insurance

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[casey_]: sure

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[lee_yoder]: but it was not real busy was
not stressful at all so i just had

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[lee_yoder]: a lot of time and i had
a lot of origin um to get into

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[lee_yoder]: real estate and start real estate as
a side hustle so

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[casey_]: yeah

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[lee_yoder]: i left two thousand sixteen and it
wasn't until and that was at the end

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[lee_yoder]: of two thousan sixteen but at the
end of two housanseventeen about a little bit

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[lee_yoder]: less than a year later i bought
my first family flip and you know my

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[lee_yoder]: real estate career

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[casey_]: yeah

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[lee_yoder]: kind of got started

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[casey_]: sure sure and and you know it's
interesting where you bring in how you got

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[casey_]: into it and it's and then but
what

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[lee_yoder]: yeah

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[casey_]: so the time obviously lent itself to
allow you to get into it and then

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[casey_]: not only that but then expand right
expand and start the growth

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[lee_yoder]: m

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[casey_]: part of it so um what were
some

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[lee_yoder]: yes

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[casey_]: other mode aiding factors for

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[lee_yoder]: yes

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[casey_]: real estate like like what what got
that vehicle turned in that direction to start

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[casey_]: with

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[lee_yoder]: yeah i mean there were definitely some
things that attracted me to it beyond just

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[lee_yoder]: yeah hey maybe i can kind of
control my time my dad's in construction so

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[lee_yoder]: i grew up around that i did
construction you know between in the summer you

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[lee_yoder]: know between you know college years and
stuff like that um so i like working

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[lee_yoder]: with my hands you know i've done
a bunch of stuff in my own house

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[lee_yoder]: so that kind of spoke to me
again i kind of mentone couple times he's

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[lee_yoder]: been a numbers guy so when i

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[casey_]: yeah

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[lee_yoder]: was doing the dugafter operation stuff i
love that so the more i learned about

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[lee_yoder]: real estate where it was like this
is really a numbers game it's about you

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[lee_yoder]: know forecasting and you know underwriting a
pro and figuring out you know what should

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[lee_yoder]: i pay for and then what would
somebody else pay for it or what would

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[lee_yoder]: somebody pay to rent this place is
like i love that stuff and then the

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[lee_yoder]: fact that you could go out and
use your hands and you know make the

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[lee_yoder]: properly looked better so that somebody will
buy it for more or somebody will rent

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[lee_yoder]: it for more i just i liked
all that it really spoke to me

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[casey_]: so the

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[lee_yoder]: again

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[casey_]: value

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[lee_yoder]: just kind of

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[casey_]: add kind of stuff

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[lee_yoder]: yeah absolutely

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[casey_]: the

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[lee_yoder]: right

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[casey_]: forceful appreciation in a way

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[lee_yoder]: yep

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[casey_]: really um

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[lee_yoder]: yeah

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[casey_]: and once you get that once you
get that forceful appreciation bug once that damn

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[casey_]: thing bites you it's like this little
and you're ready to rock and roll

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[lee_yoder]: yeah

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[casey_]: i mean i know

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[lee_yoder]: yeah

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[casey_]: that

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[lee_yoder]: yeah it

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[casey_]: once

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[lee_yoder]: was

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[casey_]: at

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[lee_yoder]: for me

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[casey_]: once once that hit man it just
like ran over me like a car and

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[casey_]: i was like who who you're actually
making appreciation you're making your your you're basically

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[casey_]: forcing

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[lee_yoder]: yeah

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[casey_]: inflation for lack of a better term
really guest other than four appreciation but anyhow

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[casey_]: all right now

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[lee_yoder]: yeah

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[casey_]: you mentioned so what's geographically where you
invested at right now

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[lee_yoder]: i live between cincinnati and dayton ohio
so here in south west ohio and i

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[lee_yoder]: just have invest locally so far just
in these two cities i mean when

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[casey_]: okay

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[lee_yoder]: i first started case my first flip
in two seventeen and then the dupe i

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[lee_yoder]: bought two thousand eighteen they were in
my my home town you know little town

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[lee_yoder]: here between data cincinnati i started local
and then the next year in two thousand

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[lee_yoder]: seventeen we got a few small multi
families and those were you know just twenty

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[lee_yoder]: to thirty minutes from my house so
um now we've got a couple that are

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[lee_yoder]: more like fifty minutes from my house
but everything has been pretty local

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[casey_]: sure sure now what as far as
outside capital is concerned and and

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[lee_yoder]: m

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[casey_]: raising capital for specific deals how

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[lee_yoder]: m

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[casey_]: much of that have you done

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00:09:53,677 --> 00:09:54,681
[lee_yoder]: about five and a half million

206
00:09:55,330 --> 00:09:57,393
[casey_]: wow wow that's that's pretty

207
00:09:57,295 --> 00:09:57,457
[lee_yoder]: yeah

208
00:09:57,433 --> 00:10:00,237
[casey_]: good for just a little local kind
of deal are the five or six

209
00:10:00,178 --> 00:10:00,340
[lee_yoder]: yeah

210
00:10:00,677 --> 00:10:01,378
[casey_]: or five or six c

211
00:10:02,820 --> 00:10:02,961
[lee_yoder]: yeah

212
00:10:02,830 --> 00:10:02,850
[casey_]: b

213
00:10:03,062 --> 00:10:03,122
[lee_yoder]: we

214
00:10:03,693 --> 00:10:04,114
[casey_]: so friends

215
00:10:04,029 --> 00:10:04,150
[lee_yoder]: yep

216
00:10:04,174 --> 00:10:05,158
[casey_]: and family kind of stuff

217
00:10:06,036 --> 00:10:11,024
[lee_yoder]: yeah yeah you know he's saying that
number honestly it's shocking to me i can't

218
00:10:11,084 --> 00:10:11,906
[lee_yoder]: believe that's true

219
00:10:12,240 --> 00:10:12,363
[casey_]: yeah

220
00:10:12,927 --> 00:10:16,393
[lee_yoder]: you know i just feel like my
wife and took a leap of faith felt

221
00:10:16,413 --> 00:10:19,218
[lee_yoder]: like this is where god was eating
us and it just feels like he shown

222
00:10:19,318 --> 00:10:22,864
[lee_yoder]: up and blown away our expectation because
i never would have believed that i mean

223
00:10:22,904 --> 00:10:27,131
[lee_yoder]: our first our first indication was we
closed on it in february of twenty twenty

224
00:10:27,291 --> 00:10:32,179
[lee_yoder]: one and we need to raise five
hundred thousand dollars and it was hard just

225
00:10:32,066 --> 00:10:32,168
[casey_]: ah

226
00:10:32,220 --> 00:10:32,981
[lee_yoder]: doing that was

227
00:10:32,852 --> 00:10:33,056
[casey_]: sure

228
00:10:33,081 --> 00:10:40,333
[lee_yoder]: really hard and you know we got
uh you know my my parents my wife's

229
00:10:40,373 --> 00:10:47,089
[lee_yoder]: parents my business partner's aunt a guy
in the rea another guy in the rio

230
00:10:47,450 --> 00:10:52,137
[lee_yoder]: and then a really close friend of
mine from church and and it was hard

231
00:10:52,198 --> 00:10:55,503
[lee_yoder]: just getting from them but then the
next deal men you need to raise one

232
00:10:55,563 --> 00:10:59,510
[lee_yoder]: point three five and you know we've
kind of used up some like already i

233
00:10:59,650 --> 00:11:00,772
[lee_yoder]: used my parents i used my

234
00:11:00,750 --> 00:11:00,911
[casey_]: yeah

235
00:11:00,992 --> 00:11:01,673
[lee_yoder]: laws right so

236
00:11:01,735 --> 00:11:01,916
[casey_]: yeah

237
00:11:02,174 --> 00:11:06,642
[lee_yoder]: now they did invest a little bit
again well one of them did and my

238
00:11:06,762 --> 00:11:08,946
[lee_yoder]: my friend invested again but some of
the other ones and so now we have

239
00:11:08,966 --> 00:11:14,274
[lee_yoder]: to go find new and yeah honestly
case felt like we might not get this

240
00:11:14,314 --> 00:11:15,977
[lee_yoder]: done you know it might not get
done

241
00:11:16,620 --> 00:11:16,640
[casey_]: m

242
00:11:17,219 --> 00:11:20,204
[lee_yoder]: and we've just taken you know each
step the next one was a litte bitbigger

243
00:11:20,224 --> 00:11:25,493
[lee_yoder]: than one was a little bit bigger
and we've just slowly organically grown our our

244
00:11:25,553 --> 00:11:29,239
[lee_yoder]: investor list and people that have invested
with us have told other people about it

245
00:11:30,281 --> 00:11:35,297
[lee_yoder]: and it's just kind of grown in
each i'm we've been able to raise that

246
00:11:35,798 --> 00:11:37,561
[lee_yoder]: about the amount of money we needed
i mean

247
00:11:37,780 --> 00:11:37,961
[casey_]: sure

248
00:11:38,082 --> 00:11:41,347
[lee_yoder]: we're not one of these that are
subscribed in an hour or two

249
00:11:41,720 --> 00:11:41,864
[casey_]: yep

250
00:11:42,369 --> 00:11:44,132
[lee_yoder]: it's it's it's a couple it's too

251
00:11:44,782 --> 00:11:44,962
[casey_]: well

252
00:11:44,813 --> 00:11:45,073
[lee_yoder]: very

253
00:11:45,042 --> 00:11:45,403
[casey_]: a lot of

254
00:11:45,354 --> 00:11:45,654
[lee_yoder]: anxious

255
00:11:45,443 --> 00:11:49,570
[casey_]: those guys a lot of those guys
that are subscribing in an hour or two

256
00:11:49,710 --> 00:11:55,520
[casey_]: are really even a little bit even
people that are subscribed up to probably three

257
00:11:55,560 --> 00:11:57,623
[casey_]: or four days worth right they've

258
00:11:57,565 --> 00:11:57,706
[lee_yoder]: yeah

259
00:11:57,663 --> 00:12:00,829
[casey_]: got they've got this massive snowball behind
them of

260
00:12:00,807 --> 00:12:01,070
[lee_yoder]: yes

261
00:12:01,410 --> 00:12:03,393
[casey_]: of community of growth

262
00:12:02,995 --> 00:12:03,116
[lee_yoder]: yep

263
00:12:03,673 --> 00:12:04,575
[casey_]: of followers

264
00:12:04,645 --> 00:12:04,788
[lee_yoder]: yep

265
00:12:04,895 --> 00:12:10,946
[casey_]: of everything that has just gradually gotten
a little bit bigger so all they got

266
00:12:10,966 --> 00:12:13,911
[casey_]: to do is be like hey one
two three main street sign up if you

267
00:12:13,931 --> 00:12:14,332
[casey_]: want to be in

268
00:12:14,397 --> 00:12:14,498
[lee_yoder]: oh

269
00:12:14,412 --> 00:12:14,752
[casey_]: let's go

270
00:12:14,638 --> 00:12:14,979
[lee_yoder]: for sure

271
00:12:14,953 --> 00:12:15,273
[casey_]: and and

272
00:12:15,321 --> 00:12:15,461
[lee_yoder]: yeah

273
00:12:15,333 --> 00:12:19,801
[casey_]: then and then and that's following that
they've got is just like so so with

274
00:12:19,765 --> 00:12:19,825
[lee_yoder]: so

275
00:12:19,821 --> 00:12:24,228
[casey_]: that being said i mean you know
but at the same time the guys that

276
00:12:24,268 --> 00:12:24,368
[casey_]: are

277
00:12:24,327 --> 00:12:24,451
[lee_yoder]: yes

278
00:12:24,428 --> 00:12:28,235
[casey_]: doing that likely we're in your shoes
five years ago ten years

279
00:12:28,235 --> 00:12:28,356
[lee_yoder]: for

280
00:12:28,275 --> 00:12:28,415
[casey_]: ago

281
00:12:28,436 --> 00:12:28,617
[lee_yoder]: sure

282
00:12:28,716 --> 00:12:28,876
[casey_]: seven

283
00:12:28,918 --> 00:12:29,139
[lee_yoder]: yes

284
00:12:28,936 --> 00:12:29,777
[casey_]: years ago whatever it

285
00:12:29,761 --> 00:12:29,902
[lee_yoder]: yep

286
00:12:29,837 --> 00:12:37,630
[casey_]: is and so it's not always you
know but there again and i think are

287
00:12:37,850 --> 00:12:43,817
[casey_]: definitely moving in the right direction for
scale right your next i just i foresee

288
00:12:44,158 --> 00:12:50,627
[casey_]: your next i'm looking into the crystal
ball right i think that if you pick

289
00:12:50,728 --> 00:12:55,135
[casey_]: up from here your next move is
going to be even a little bit more

290
00:12:55,215 --> 00:12:56,197
[casey_]: scaled right and

291
00:12:56,125 --> 00:12:56,286
[lee_yoder]: yeah

292
00:12:56,257 --> 00:12:59,763
[casey_]: then and then on up from there
but then maybe even into the five o

293
00:12:59,843 --> 00:13:04,010
[casey_]: six c where now you've got a
track record and now you've got properties under

294
00:13:04,050 --> 00:13:08,718
[casey_]: management and asset and capital under management
and all of these other little things that

295
00:13:08,758 --> 00:13:12,584
[casey_]: go along with that in order to
in the pieces of the puzzles just start

296
00:13:12,664 --> 00:13:14,167
[casey_]: fitting together so so

297
00:13:14,386 --> 00:13:14,529
[lee_yoder]: right

298
00:13:14,587 --> 00:13:18,774
[casey_]: it's really interesting to see where you
are in the in the curve of things

299
00:13:18,855 --> 00:13:22,486
[casey_]: or in the in the growth phase
of things because i think you stick with

300
00:13:22,547 --> 00:13:26,461
[casey_]: it man i mean you're definitely on
the right track for sure

301
00:13:26,765 --> 00:13:29,730
[lee_yoder]: yeah thank you casey yeah and i
agree i mean it is a time thing

302
00:13:29,770 --> 00:13:33,216
[lee_yoder]: right i mean we talked little about
coaching and mentor and i have a great

303
00:13:33,256 --> 00:13:35,499
[lee_yoder]: coach i'm starting up with an and
yeah one time i kind of asked him

304
00:13:35,560 --> 00:13:38,665
[lee_yoder]: like man you know how did you
do it how can i raise money and

305
00:13:38,685 --> 00:13:41,922
[lee_yoder]: i mean part of his answer was
like um it took ten years

306
00:13:42,620 --> 00:13:42,763
[casey_]: yep

307
00:13:43,345 --> 00:13:48,106
[lee_yoder]: over ten years i just proved myself
for a decade and now i mean now

308
00:13:48,146 --> 00:13:50,513
[lee_yoder]: you know now he's got as much
money as he could possibly spend

309
00:13:50,891 --> 00:13:51,055
[casey_]: sure

310
00:13:51,265 --> 00:13:52,847
[lee_yoder]: but it took a decade you

311
00:13:52,820 --> 00:13:52,944
[casey_]: yep

312
00:13:52,887 --> 00:13:57,234
[lee_yoder]: know so that's not the answer i
wanted um and like i said i've gone

313
00:13:57,755 --> 00:14:01,181
[lee_yoder]: way further away fast or just it
doesn't make sense to me i can't believe

314
00:14:01,201 --> 00:14:02,303
[lee_yoder]: when you know we've been able to

315
00:14:02,370 --> 00:14:03,750
[casey_]: yeah

316
00:14:02,844 --> 00:14:04,190
[lee_yoder]: do this but yeah

317
00:14:04,210 --> 00:14:04,331
[casey_]: have

318
00:14:04,250 --> 00:14:04,411
[lee_yoder]: that's

319
00:14:04,371 --> 00:14:04,471
[casey_]: you

320
00:14:04,452 --> 00:14:04,572
[lee_yoder]: part

321
00:14:04,591 --> 00:14:04,752
[casey_]: used

322
00:14:04,613 --> 00:14:04,733
[lee_yoder]: of it

323
00:14:04,852 --> 00:14:05,253
[casey_]: mostly

324
00:14:04,955 --> 00:14:05,297
[lee_yoder]: you've got

325
00:14:05,333 --> 00:14:05,654
[casey_]: local

326
00:14:05,357 --> 00:14:06,122
[lee_yoder]: a show track record

327
00:14:06,276 --> 00:14:09,344
[casey_]: have you used mostly local financing options
what hat kind

328
00:14:09,285 --> 00:14:09,487
[lee_yoder]: yes

329
00:14:09,384 --> 00:14:11,088
[casey_]: of financing have you brought in on
that

330
00:14:11,245 --> 00:14:15,174
[lee_yoder]: yeah almost all local banks um

331
00:14:15,011 --> 00:14:15,155
[casey_]: yeah

332
00:14:15,836 --> 00:14:20,577
[lee_yoder]: yeah we've done that we did assume
one freddy max loan i wish we wouldn't

333
00:14:20,597 --> 00:14:25,690
[lee_yoder]: have but the others have been all
um you know a local credit union that's

334
00:14:25,560 --> 00:14:25,780
[casey_]: sure

335
00:14:25,730 --> 00:14:26,692
[lee_yoder]: given us eighty

336
00:14:26,661 --> 00:14:26,922
[casey_]: credit

337
00:14:26,732 --> 00:14:27,053
[lee_yoder]: per cent

338
00:14:27,042 --> 00:14:28,064
[casey_]: unions i think credit

339
00:14:27,857 --> 00:14:28,021
[lee_yoder]: three

340
00:14:28,144 --> 00:14:32,912
[casey_]: unions are still even today as this
is being recorded kind of end issue of

341
00:14:33,012 --> 00:14:38,204
[casey_]: august m credit unions i think are
still kind of the best bets um

342
00:14:38,138 --> 00:14:38,940
[lee_yoder]: they have been for us

343
00:14:38,949 --> 00:14:38,969
[casey_]: m

344
00:14:39,020 --> 00:14:40,122
[lee_yoder]: man they've been great i mean

345
00:14:40,370 --> 00:14:40,512
[casey_]: yeah

346
00:14:40,763 --> 00:14:44,849
[lee_yoder]: i talked to a guy really trust
a mortgage broker and he can go get

347
00:14:44,889 --> 00:14:48,315
[lee_yoder]: you know fanny made freddy mag bridge
all this stuff and so you know i've

348
00:14:48,335 --> 00:14:50,599
[lee_yoder]: been kind of talking to him like
all right as we look for bigger deals

349
00:14:50,659 --> 00:14:54,686
[lee_yoder]: like you know what are all the
other options and um so he's underwritten a

350
00:14:54,706 --> 00:14:57,771
[lee_yoder]: coupe deals for me like hey you
know here here's you know option or option

351
00:14:57,831 --> 00:15:01,758
[lee_yoder]: b is what what we could bring
bring to you and i said well you

352
00:15:01,798 --> 00:15:04,222
[lee_yoder]: know look what we're getting with this
credit union that we've done a couple deals

353
00:15:04,282 --> 00:15:08,248
[lee_yoder]: with and he's like i can't i
can't i can't do any better than that

354
00:15:08,288 --> 00:15:08,368
[lee_yoder]: and

355
00:15:08,333 --> 00:15:08,494
[casey_]: yeah

356
00:15:08,388 --> 00:15:12,034
[lee_yoder]: then you know he's got one percent
fee but you know i was kind o

357
00:15:12,054 --> 00:15:15,079
[lee_yoder]: looking at bridge and he's like lee
that is a bridge loan because there's not

358
00:15:15,159 --> 00:15:19,086
[lee_yoder]: big prepayment penalties we're getting in easy
so we wanted to get out in three

359
00:15:19,106 --> 00:15:20,969
[lee_yoder]: years we could so that's kind of
like a bridge loan

360
00:15:20,980 --> 00:15:21,322
[casey_]: well

361
00:15:21,009 --> 00:15:24,976
[lee_yoder]: but yet we've got fixed interest for
five years and amorized over twenty five years

362
00:15:25,036 --> 00:15:25,637
[lee_yoder]: and you

363
00:15:25,603 --> 00:15:25,764
[casey_]: yeah

364
00:15:25,677 --> 00:15:29,223
[lee_yoder]: know it's not like a real high
fees like those bridge loans i

365
00:15:29,242 --> 00:15:29,447
[casey_]: yeah

366
00:15:29,243 --> 00:15:32,352
[lee_yoder]: mean they can kind sharkey loans and
these aren't so yeah

367
00:15:32,411 --> 00:15:32,632
[casey_]: yeah

368
00:15:32,432 --> 00:15:32,633
[lee_yoder]: we've

369
00:15:32,933 --> 00:15:33,335
[casey_]: sharkey

370
00:15:33,245 --> 00:15:33,569
[lee_yoder]: we're good

371
00:15:33,415 --> 00:15:36,266
[casey_]: loans i like that that's that's sharkey
loans i like that now

372
00:15:36,385 --> 00:15:38,709
[lee_yoder]: that was my mortgage broker that was
that was his phrase

373
00:15:38,420 --> 00:15:38,661
[casey_]: yeah

374
00:15:38,809 --> 00:15:39,030
[lee_yoder]: because

375
00:15:39,244 --> 00:15:39,465
[casey_]: and the

376
00:15:39,491 --> 00:15:39,771
[lee_yoder]: he's like

377
00:15:39,706 --> 00:15:39,826
[casey_]: one

378
00:15:39,811 --> 00:15:40,973
[lee_yoder]: there's sharkey loans

379
00:15:41,210 --> 00:15:45,056
[casey_]: the one thing that i want to
point out to i want to ask about

380
00:15:45,116 --> 00:15:50,124
[casey_]: really is is and sometimes this gets
lost because of the amounts of money that

381
00:15:50,385 --> 00:15:54,031
[casey_]: we're all talking about and looking at
and doing and dealing with like when you

382
00:15:54,091 --> 00:15:57,938
[casey_]: get into some of these especially bigger
complexes i mean

383
00:15:57,905 --> 00:15:58,549
[lee_yoder]: ye

384
00:15:57,998 --> 00:16:03,387
[casey_]: it's it's really nothing to to start
having a discussion that centered around twenty thirty

385
00:16:03,427 --> 00:16:04,609
[casey_]: forty million dollars right

386
00:16:05,385 --> 00:16:05,527
[lee_yoder]: right

387
00:16:05,630 --> 00:16:10,318
[casey_]: um but my question is is is
the cost of the loan like the actual

388
00:16:11,160 --> 00:16:16,949
[casey_]: the actual like the funding or that
the funding fee but the the points in

389
00:16:17,029 --> 00:16:17,670
[casey_]: the so you know

390
00:16:17,622 --> 00:16:17,743
[lee_yoder]: yeah

391
00:16:17,971 --> 00:16:24,041
[casey_]: the appraisal fees and all of that
stuff the credit unions i've heard are pretty

392
00:16:24,702 --> 00:16:28,128
[casey_]: like very competitive when it comes to
that as far as just even on that

393
00:16:28,188 --> 00:16:29,792
[casey_]: initial cost because

394
00:16:30,435 --> 00:16:30,616
[lee_yoder]: very

395
00:16:30,594 --> 00:16:30,855
[casey_]: again

396
00:16:30,676 --> 00:16:30,837
[lee_yoder]: much

397
00:16:31,076 --> 00:16:31,196
[casey_]: like

398
00:16:31,139 --> 00:16:31,380
[lee_yoder]: always

399
00:16:31,257 --> 00:16:31,517
[casey_]: i said

400
00:16:31,461 --> 00:16:32,789
[lee_yoder]: less than two percent for us

401
00:16:32,730 --> 00:16:32,890
[casey_]: yeah

402
00:16:32,829 --> 00:16:33,191
[lee_yoder]: so far

403
00:16:33,470 --> 00:16:35,412
[casey_]: okay well see and that's what i'm
getting at because

404
00:16:35,805 --> 00:16:35,926
[lee_yoder]: yeah

405
00:16:35,832 --> 00:16:38,434
[casey_]: a lot of times that gets lost
in the shuffle because if you're talking about

406
00:16:38,454 --> 00:16:42,138
[casey_]: a forty million dollar loan what's what's
a hunder grand or what's you know you

407
00:16:42,178 --> 00:16:48,476
[casey_]: know it's not it does it doesn't
it's not a complete inconsequential amount of money

408
00:16:48,636 --> 00:16:52,843
[casey_]: but at the same time it's like
it becomes a smaller grain in the salt

409
00:16:52,883 --> 00:16:53,484
[casey_]: checker right

410
00:16:53,385 --> 00:16:53,587
[lee_yoder]: yes

411
00:16:54,025 --> 00:16:58,813
[casey_]: so um but that's good so lass
then two percent i mean man that's that's

412
00:16:58,913 --> 00:17:02,597
[casey_]: awesome what's the biggest loan that are
you signing on your own loans or do

413
00:17:02,637 --> 00:17:02,938
[casey_]: you have a

414
00:17:02,965 --> 00:17:03,165
[lee_yoder]: yeah

415
00:17:02,978 --> 00:17:03,218
[casey_]: k p

416
00:17:03,305 --> 00:17:06,811
[lee_yoder]: that yeah so that's yeah that's what
it's sure that's what a lot of people

417
00:17:06,991 --> 00:17:10,197
[lee_yoder]: would say casey you know well we
don't do because you know it's recourse and

418
00:17:10,237 --> 00:17:14,764
[lee_yoder]: it is so we do sign my
business partner and i both sign and that's

419
00:17:14,804 --> 00:17:19,152
[lee_yoder]: what we just we feel confident in
our deals we're putting yeah putting our name

420
00:17:19,172 --> 00:17:21,496
[lee_yoder]: in the line we don't we don't
have a bunch of our own capital throw

421
00:17:21,596 --> 00:17:25,382
[lee_yoder]: into it but we're all in i
mean our names on the loan and

422
00:17:25,922 --> 00:17:26,063
[casey_]: yeah

423
00:17:26,484 --> 00:17:29,509
[lee_yoder]: we've got form to do well i
mean we do take an acquisition fee but

424
00:17:30,191 --> 00:17:32,916
[lee_yoder]: that kind of pays us our salary
if we want to really do well and

425
00:17:32,956 --> 00:17:35,540
[lee_yoder]: create wealth we need these properties to
do really well so we're

426
00:17:35,520 --> 00:17:35,741
[casey_]: yeah

427
00:17:35,580 --> 00:17:35,841
[lee_yoder]: all in

428
00:17:35,921 --> 00:17:36,001
[casey_]: and

429
00:17:35,961 --> 00:17:36,202
[lee_yoder]: on the

430
00:17:36,141 --> 00:17:36,462
[casey_]: at the end

431
00:17:36,402 --> 00:17:36,482
[lee_yoder]: n y

432
00:17:36,502 --> 00:17:36,662
[casey_]: of the

433
00:17:36,662 --> 00:17:36,702
[lee_yoder]: we

434
00:17:36,722 --> 00:17:36,903
[casey_]: day

435
00:17:36,763 --> 00:17:37,103
[lee_yoder]: do sign

436
00:17:37,043 --> 00:17:37,524
[casey_]: it doesn't

437
00:17:37,163 --> 00:17:37,324
[lee_yoder]: on them

438
00:17:38,125 --> 00:17:44,015
[casey_]: it doesn't do it doesn't do anybody
any justice to to just be trying to

439
00:17:44,075 --> 00:17:49,824
[casey_]: acquire trying to move around for for
four acquisition fees and stuff like that

440
00:17:49,755 --> 00:17:50,163
[lee_yoder]: yeah right

441
00:17:50,545 --> 00:17:50,926
[casey_]: you know you

442
00:17:50,875 --> 00:17:50,978
[lee_yoder]: yep

443
00:17:51,046 --> 00:17:57,497
[casey_]: have to you have to have the
the the long term plan there and the

444
00:17:57,717 --> 00:18:01,944
[casey_]: goal of everybody making money or it's
just not going to last long for you

445
00:18:02,005 --> 00:18:02,906
[casey_]: so i like that but

446
00:18:03,315 --> 00:18:03,438
[lee_yoder]: yeah

447
00:18:03,467 --> 00:18:07,594
[casey_]: um so you all are signing on
the loan and obviously

448
00:18:07,385 --> 00:18:07,767
[lee_yoder]: yeah

449
00:18:07,634 --> 00:18:14,545
[casey_]: they're using income um and the underwriting
standards for credit unions and stuff in the

450
00:18:14,606 --> 00:18:19,153
[casey_]: past i've seen them be a little
tighter than others but i think that's kind

451
00:18:19,193 --> 00:18:22,779
[casey_]: of starting to change i think the
credit union game has just kind of stepped

452
00:18:22,859 --> 00:18:25,844
[casey_]: up the last say three or four
years because it used to be like

453
00:18:25,727 --> 00:18:26,495
[lee_yoder]: exactly

454
00:18:26,365 --> 00:18:30,512
[casey_]: the like for instance the teachers credit
union here i mean you even walk through

455
00:18:30,552 --> 00:18:35,943
[casey_]: the door and even discuss business you
had to be a teacher and or there's

456
00:18:36,003 --> 00:18:40,578
[casey_]: just many other credit unions like that
but some of my thinker are a little

457
00:18:40,618 --> 00:18:44,765
[casey_]: bit use i'm almost sure they fall
under i don't know do they fall under

458
00:18:44,845 --> 00:18:46,908
[casey_]: a little different banking law i mean
i'm not sure

459
00:18:47,216 --> 00:18:51,823
[lee_yoder]: well they're not taxed the same so
i do know talked to a guy at

460
00:18:52,004 --> 00:18:57,953
[lee_yoder]: a local bank and he said that
they just cannot quite provide as low of

461
00:18:58,014 --> 00:19:03,280
[lee_yoder]: an interest rate because they're taxed differently
so credit unions just don't get taxed quite

462
00:19:03,340 --> 00:19:05,863
[lee_yoder]: as much that was one difference that
he

463
00:19:05,840 --> 00:19:05,920
[casey_]: we

464
00:19:05,943 --> 00:19:06,324
[lee_yoder]: mentioned

465
00:19:06,101 --> 00:19:10,268
[casey_]: pull that out of the equation man
that could that really could step step some

466
00:19:10,308 --> 00:19:12,431
[casey_]: basis points one way or the other
i mean quite

467
00:19:12,446 --> 00:19:12,608
[lee_yoder]: right

468
00:19:12,471 --> 00:19:13,393
[casey_]: a bit sure so

469
00:19:13,435 --> 00:19:13,558
[lee_yoder]: yeah

470
00:19:13,753 --> 00:19:17,439
[casey_]: all right well also man and what's
the biggest what's the big what's the large

471
00:19:17,540 --> 00:19:20,236
[casey_]: s amount of doors you've closed on
so far in one spot

472
00:19:21,367 --> 00:19:21,890
[lee_yoder]: ninety six

473
00:19:22,510 --> 00:19:24,861
[casey_]: okay man that's kick as dude that's

474
00:19:24,695 --> 00:19:24,996
[lee_yoder]: yeah we

475
00:19:25,002 --> 00:19:25,283
[casey_]: awesome

476
00:19:25,096 --> 00:19:25,698
[lee_yoder]: got we got

477
00:19:25,705 --> 00:19:25,725
[casey_]: i

478
00:19:25,758 --> 00:19:25,798
[lee_yoder]: a

479
00:19:25,805 --> 00:19:25,986
[casey_]: love

480
00:19:25,938 --> 00:19:26,219
[lee_yoder]: ninety

481
00:19:26,046 --> 00:19:26,207
[casey_]: that

482
00:19:26,279 --> 00:19:29,628
[lee_yoder]: five unit in our ninety six unit
was in december and then a ninety five

483
00:19:29,708 --> 00:19:30,551
[lee_yoder]: unit this may and

484
00:19:30,820 --> 00:19:31,300
[casey_]: so yeah

485
00:19:31,172 --> 00:19:31,353
[lee_yoder]: yes

486
00:19:31,641 --> 00:19:32,242
[casey_]: man there's a hundred

487
00:19:32,135 --> 00:19:32,436
[lee_yoder]: you're right

488
00:19:32,342 --> 00:19:32,562
[casey_]: ninety

489
00:19:32,477 --> 00:19:32,758
[lee_yoder]: there yea

490
00:19:32,742 --> 00:19:34,184
[casey_]: hndednineyone units right off the

491
00:19:34,106 --> 00:19:34,308
[lee_yoder]: vos

492
00:19:34,224 --> 00:19:35,306
[casey_]: bat or you know right

493
00:19:35,215 --> 00:19:35,339
[lee_yoder]: yeah

494
00:19:35,346 --> 00:19:37,529
[casey_]: there and what was the purchase price
of each

495
00:19:38,808 --> 00:19:40,560
[lee_yoder]: uh six and five point eight five

496
00:19:41,101 --> 00:19:43,490
[casey_]: yeah m and from a

497
00:19:43,507 --> 00:19:43,567
[lee_yoder]: so

498
00:19:43,551 --> 00:19:43,731
[casey_]: cost

499
00:19:43,628 --> 00:19:43,809
[lee_yoder]: were

500
00:19:43,811 --> 00:19:46,156
[casey_]: per unit standpoint i mean that's that's
like

501
00:19:46,195 --> 00:19:46,339
[lee_yoder]: yeah

502
00:19:46,456 --> 00:19:50,605
[casey_]: on our level where i'm at like
de we're still like fifty sixty thousand ollers

503
00:19:50,645 --> 00:19:51,567
[casey_]: a unit on some

504
00:19:51,665 --> 00:19:51,825
[lee_yoder]: yeah

505
00:19:51,687 --> 00:19:52,208
[casey_]: stuff here

506
00:19:52,105 --> 00:19:55,992
[lee_yoder]: yeah so those are both like yeah
we're like right at sixty two um you

507
00:19:56,012 --> 00:19:56,693
[lee_yoder]: know we've got a

508
00:19:57,110 --> 00:19:59,695
[casey_]: what do you see is sorry to
interrupt but i want to just

509
00:19:59,625 --> 00:19:59,767
[lee_yoder]: good

510
00:20:00,115 --> 00:20:05,845
[casey_]: why it's here but what about those
two deals and let's talk specifically about those

511
00:20:05,965 --> 00:20:11,414
[casey_]: two what were the value at opportunity
that you saw right off the bat what

512
00:20:11,495 --> 00:20:13,578
[casey_]: kind of a location what kind of
class were they

513
00:20:14,895 --> 00:20:21,246
[lee_yoder]: the ninety six that we close on
december was very much just their little brick

514
00:20:21,286 --> 00:20:24,231
[lee_yoder]: building is actually twenty four little quads
right together and

515
00:20:24,531 --> 00:20:24,776
[casey_]: okay

516
00:20:25,593 --> 00:20:28,803
[lee_yoder]: just love the lawn term i mean
i kind of want to hold those forever

517
00:20:28,843 --> 00:20:31,632
[lee_yoder]: and hand them down to my kids
because they're just little brick boxes

518
00:20:31,860 --> 00:20:32,730
[casey_]: yes

519
00:20:32,625 --> 00:20:33,226
[lee_yoder]: on a slab

520
00:20:33,492 --> 00:20:33,615
[casey_]: oh

521
00:20:33,947 --> 00:20:39,517
[lee_yoder]: slope shingle roof electric heat i mean
just you know very little maintenance right just

522
00:20:39,957 --> 00:20:43,984
[lee_yoder]: simple but everybody's got ground entry everybody's
got a little deck like they've got washed

523
00:20:44,024 --> 00:20:45,069
[lee_yoder]: or dry or in i mean

524
00:20:45,990 --> 00:20:46,316
[casey_]: oh

525
00:20:46,555 --> 00:20:48,799
[lee_yoder]: it's just they're easy to rent easy
to maintain

526
00:20:49,293 --> 00:20:49,414
[casey_]: ah

527
00:20:49,500 --> 00:20:54,529
[lee_yoder]: so we liked all that but the
value add was was just that the previous

528
00:20:54,689 --> 00:20:57,494
[lee_yoder]: owner was like he just and this
is a lot of them like i think

529
00:20:57,534 --> 00:20:59,737
[lee_yoder]: this is what people you know we're
kind of trying to look for it like

530
00:21:00,438 --> 00:21:04,345
[lee_yoder]: he didn't push rent that hard but
that's because he bought like six well it's

531
00:21:04,365 --> 00:21:07,831
[lee_yoder]: been like seven years ago now so
he bought really cheap you know back then

532
00:21:07,891 --> 00:21:08,472
[lee_yoder]: i mean you

533
00:21:08,481 --> 00:21:08,683
[casey_]: sure

534
00:21:08,512 --> 00:21:13,043
[lee_yoder]: know what like he bough cheap so
for him he was just crushing it with

535
00:21:13,103 --> 00:21:16,191
[lee_yoder]: cash flow even though he was only
charging you know six fifty a month in

536
00:21:16,231 --> 00:21:20,820
[lee_yoder]: rent well we looked at we're like
well markets eight hundred you know and that's

537
00:21:20,900 --> 00:21:24,807
[lee_yoder]: like without having an amazing this is
c class to answer that part question i

538
00:21:24,847 --> 00:21:27,912
[lee_yoder]: mean we don't need to do anything
amazing but we did so we did come

539
00:21:27,952 --> 00:21:33,166
[lee_yoder]: in with a rehab budget there were
some that need repaired that was kind of

540
00:21:33,286 --> 00:21:38,133
[lee_yoder]: it we turned the office so they
were using one one unit an office or

541
00:21:39,715 --> 00:21:42,379
[lee_yoder]: that sorry mis spoke that that was
a different one but

542
00:21:42,960 --> 00:21:43,165
[casey_]: yes

543
00:21:43,141 --> 00:21:46,025
[lee_yoder]: basically we just came with our rehab
budget just to keep renovating units and going

544
00:21:46,085 --> 00:21:46,967
[lee_yoder]: and getting market rent

545
00:21:47,331 --> 00:21:47,494
[casey_]: sure

546
00:21:47,748 --> 00:21:51,294
[lee_yoder]: so we we thought that was eight
hundred when we were underwriting it you know

547
00:21:51,595 --> 00:21:55,962
[lee_yoder]: and september of last year or whatever
october by the time we closed like no

548
00:21:56,022 --> 00:22:01,050
[lee_yoder]: it's more like eight twenty five we
now just got nine hundred and switching over

549
00:22:01,110 --> 00:22:03,775
[lee_yoder]: new property management company they think we
can get nine fifty house so

550
00:22:04,303 --> 00:22:05,490
[casey_]: yeah

551
00:22:04,316 --> 00:22:07,262
[lee_yoder]: um that's where the value at is
is rent out

552
00:22:08,730 --> 00:22:09,034
[casey_]: yes

553
00:22:08,925 --> 00:22:12,951
[lee_yoder]: i'd be nervous if i was jumping
in today banking on i think we've kind

554
00:22:13,032 --> 00:22:18,180
[lee_yoder]: of reached the extent of this crazy
rank growth but yeah the other one was

555
00:22:18,220 --> 00:22:24,010
[lee_yoder]: the same case it was now needed
it needed windows it needed new sliding doors

556
00:22:24,030 --> 00:22:27,556
[lee_yoder]: because it needed new deck so every
unit you can walk out onto a deck

557
00:22:28,016 --> 00:22:33,245
[lee_yoder]: which we really like as a sliding
door and windows that all we reply so

558
00:22:33,305 --> 00:22:36,390
[lee_yoder]: we're putting a lot it needs a
new parking lot doing all that so a

559
00:22:36,451 --> 00:22:39,375
[lee_yoder]: lot of money you know that's the
kind you don't love to spend becos it's

560
00:22:39,415 --> 00:22:43,442
[lee_yoder]: not like direct you know you're not
renovating a unit and you know that's kind

561
00:22:43,482 --> 00:22:47,168
[lee_yoder]: of like we love doing that because
you're taking somebody's moving out paying five fifty

562
00:22:47,489 --> 00:22:49,993
[lee_yoder]: you go and make this beautiful unit
bring somebody in it a thousand or something

563
00:22:50,013 --> 00:22:54,921
[lee_yoder]: like that like that's what you love
doing but you know if you got nice

564
00:22:54,981 --> 00:22:58,708
[lee_yoder]: windows i mean that attracts people as
well and new park a lot so that

565
00:22:58,788 --> 00:23:03,696
[lee_yoder]: one there's more of like the big
cap um and then it's just renovating a

566
00:23:03,716 --> 00:23:06,501
[lee_yoder]: bunch of units so that's really what
we're trying to do is we're just saying

567
00:23:07,142 --> 00:23:11,569
[lee_yoder]: let's just go get today's market rent
and that's that's kind of a i don't

568
00:23:11,589 --> 00:23:14,835
[lee_yoder]: know i'd call that a c plus
b minus property that ones in cincinnati the

569
00:23:14,895 --> 00:23:18,801
[lee_yoder]: ninety six unithatiwas talking about with twenty
four buildings that's in dayton um this is

570
00:23:18,861 --> 00:23:23,389
[lee_yoder]: a little bit nicer area we're gettin
higher um but yeah it's it's just make

571
00:23:23,429 --> 00:23:28,137
[lee_yoder]: the properties look real nice but you
know see plus nice be minus nice we

572
00:23:28,157 --> 00:23:30,981
[lee_yoder]: don't have amenities and stuff like that
and then just when people move out go

573
00:23:31,162 --> 00:23:35,549
[lee_yoder]: in um you know make the unit
you know just do a kind of a

574
00:23:35,629 --> 00:23:36,951
[lee_yoder]: heavy turn um

575
00:23:36,790 --> 00:23:36,971
[casey_]: sure

576
00:23:37,372 --> 00:23:37,452
[lee_yoder]: and

577
00:23:37,374 --> 00:23:37,535
[casey_]: sure

578
00:23:37,552 --> 00:23:38,594
[lee_yoder]: bring people in at market rant

579
00:23:39,680 --> 00:23:45,991
[casey_]: yeah and how hard are you finding
on some of those heavy terms how how

580
00:23:46,031 --> 00:23:49,958
[casey_]: hard are you finding it to get
that part done like

581
00:23:49,967 --> 00:23:51,005
[lee_yoder]: yeah

582
00:23:50,018 --> 00:23:51,059
[casey_]: because al

583
00:23:51,045 --> 00:23:51,209
[lee_yoder]: yeah

584
00:23:51,560 --> 00:23:55,126
[casey_]: sometimes you end up being a manager
of a bunch of

585
00:23:55,206 --> 00:23:55,410
[lee_yoder]: yes

586
00:23:55,447 --> 00:24:03,599
[casey_]: whining sub contractors which we all i
think makes us want to go home and

587
00:24:04,200 --> 00:24:04,561
[casey_]: put hot

588
00:24:04,546 --> 00:24:04,708
[lee_yoder]: yeah

589
00:24:04,621 --> 00:24:09,015
[casey_]: sauce on a bowling pan and try
to eat it for dinner so

590
00:24:08,987 --> 00:24:12,814
[lee_yoder]: well we've had kind of two different
experiences the ninety five unit that we just

591
00:24:12,834 --> 00:24:17,181
[lee_yoder]: took on in cincinnati we've got a
big property management company managing that for us

592
00:24:17,221 --> 00:24:21,125
[lee_yoder]: and they were managing it for a
year when we took it all and they

593
00:24:21,205 --> 00:24:24,290
[lee_yoder]: do everything casey i'm not i mean
i don't want everbody think it's always this

594
00:24:24,370 --> 00:24:28,096
[lee_yoder]: way but like they've got they don't
have all their own in house guys so

595
00:24:28,177 --> 00:24:31,662
[lee_yoder]: we've got a full time maintenance guyon
that staff there at the property we got

596
00:24:31,682 --> 00:24:34,788
[lee_yoder]: a full time leasing agent you know
we pay their pay role but they're employed

597
00:24:35,028 --> 00:24:38,073
[lee_yoder]: by the property management company and so
they handle ll that stuff they handle the

598
00:24:38,113 --> 00:24:41,779
[lee_yoder]: maintenance but they don't have crews of
their own to do the unit turns but

599
00:24:42,520 --> 00:24:46,607
[lee_yoder]: they've just done a good job of
finding like this one crew um that does

600
00:24:46,707 --> 00:24:52,337
[lee_yoder]: all the unit turns and they're crushing
it so we honestly we don't really lift

601
00:24:52,397 --> 00:24:56,123
[lee_yoder]: a finger because they're doing you know
we check but they're doing it at a

602
00:24:56,263 --> 00:24:59,078
[lee_yoder]: great price and we go out and
look at them and they look good and

603
00:24:59,119 --> 00:24:59,300
[lee_yoder]: they're

604
00:25:00,060 --> 00:25:00,326
[casey_]: oh

605
00:25:00,725 --> 00:25:04,452
[lee_yoder]: crushing it on the rent they're getting
so that one is like ideal i don't

606
00:25:04,472 --> 00:25:07,517
[lee_yoder]: want anybody think that's how it is
all the time because we don't have to

607
00:25:07,557 --> 00:25:10,862
[lee_yoder]: do much at all and that's going
really well the other one we started out

608
00:25:11,624 --> 00:25:14,911
[lee_yoder]: you know have an our any management
company kind of doing that like using some

609
00:25:14,951 --> 00:25:19,160
[lee_yoder]: of their own guys but hiring some
stuff out they took forever they were super

610
00:25:19,220 --> 00:25:19,821
[lee_yoder]: expensive

611
00:25:20,390 --> 00:25:20,552
[casey_]: yep

612
00:25:21,525 --> 00:25:23,107
[lee_yoder]: and they took forever you know

613
00:25:23,952 --> 00:25:24,750
[casey_]: yeah

614
00:25:24,530 --> 00:25:28,376
[lee_yoder]: and they got a little bit better
but we ended up going out and finding

615
00:25:28,416 --> 00:25:33,084
[lee_yoder]: through a referal we found a contractor
so this is why you know net working

616
00:25:33,144 --> 00:25:37,491
[lee_yoder]: within you know real estate specially for
us casey like in the multi family space

617
00:25:37,792 --> 00:25:41,798
[lee_yoder]: is so important because i end up
going to another husband and wife that are

618
00:25:41,818 --> 00:25:45,064
[lee_yoder]: in multi family but they've done a
ton of flips a ton of single family

619
00:25:45,104 --> 00:25:48,049
[lee_yoder]: stuff and they have a guy like
we just use this guy he turns all

620
00:25:48,089 --> 00:25:50,934
[lee_yoder]: our single families he turns all of
our units and they kind of shared him

621
00:25:50,974 --> 00:25:54,940
[lee_yoder]: with us he came out and he
matched the price we were getting but he

622
00:25:55,341 --> 00:25:56,763
[lee_yoder]: could do a unit in three days

623
00:25:57,330 --> 00:25:58,080
[casey_]: yeah

624
00:25:57,344 --> 00:25:58,507
[lee_yoder]: and we've had him turn

625
00:25:58,330 --> 00:25:58,532
[casey_]: wow

626
00:25:58,588 --> 00:26:03,100
[lee_yoder]: probably twenty five units for us and
it's just it's it's literally we tell him

627
00:26:03,140 --> 00:26:07,348
[lee_yoder]: the unit number he shows up and
he knows the code he gets in and

628
00:26:07,389 --> 00:26:10,273
[lee_yoder]: three days later it's done and he
cleans it on his way out and so

629
00:26:11,405 --> 00:26:14,430
[lee_yoder]: you know we we kind of have
to manage him because he's outside of our

630
00:26:14,450 --> 00:26:18,737
[lee_yoder]: property management company but it's very little
to do so my business partner does that

631
00:26:18,837 --> 00:26:22,864
[lee_yoder]: so m yeah i would say you
bring up a good point casey because i

632
00:26:22,944 --> 00:26:26,269
[lee_yoder]: would not and expecting your property manage
becoming just to handle what like ours is

633
00:26:26,690 --> 00:26:28,253
[lee_yoder]: in our ninety five unit in cincinnati

634
00:26:28,832 --> 00:26:29,017
[casey_]: sure

635
00:26:28,834 --> 00:26:32,219
[lee_yoder]: typically if you're doing a bunch now
they should be able to turn one a

636
00:26:32,300 --> 00:26:36,286
[lee_yoder]: month or something like that and we've
run into property it's become that can't but

637
00:26:36,326 --> 00:26:39,612
[lee_yoder]: they should be able to turn them
slowly but if you're wanting to do two

638
00:26:39,712 --> 00:26:42,497
[lee_yoder]: or three a month you know you're
wanting to get pretty aggressive and you've got

639
00:26:42,537 --> 00:26:46,203
[lee_yoder]: like a renovation budget you want to
blow through in two years and just get

640
00:26:46,243 --> 00:26:49,990
[lee_yoder]: really aggressive you're probably gonna take some
of that on yourself and go find your

641
00:26:50,030 --> 00:26:51,453
[lee_yoder]: own contractor and kind of be your
own g

642
00:26:51,530 --> 00:26:51,730
[casey_]: well

643
00:26:51,713 --> 00:26:51,733
[lee_yoder]: c

644
00:26:51,770 --> 00:26:53,573
[casey_]: put your own team together like that
and

645
00:26:53,555 --> 00:26:53,917
[lee_yoder]: that too

646
00:26:53,934 --> 00:26:59,102
[casey_]: yeah and that's that's the part of
it i think that makes i think that's

647
00:26:59,163 --> 00:27:03,069
[casey_]: the part of it that keeps a
lot of people away from c and d

648
00:27:03,935 --> 00:27:04,404
[lee_yoder]: oh

649
00:27:04,011 --> 00:27:05,935
[casey_]: type properties i mean i just think

650
00:27:05,838 --> 00:27:05,999
[lee_yoder]: yeah

651
00:27:06,015 --> 00:27:07,338
[casey_]: because especially

652
00:27:08,047 --> 00:27:08,375
[lee_yoder]: yes

653
00:27:08,781 --> 00:27:12,487
[casey_]: just i don't know when you get
into some of that stuff and then you've

654
00:27:12,507 --> 00:27:16,914
[casey_]: got to have specialists and especially like
right now for instance in our area electricians

655
00:27:17,655 --> 00:27:23,064
[casey_]: are there are several of them and
there are several plumbers but the issue is

656
00:27:23,445 --> 00:27:26,570
[casey_]: is that they're all like booked way
out and

657
00:27:26,626 --> 00:27:26,787
[lee_yoder]: yeah

658
00:27:26,630 --> 00:27:32,500
[casey_]: it's not even necessarily that you can't
just and and once that starts happen obviously

659
00:27:32,540 --> 00:27:36,427
[casey_]: then the cost starts to rise right
and so it's it's all a lot of

660
00:27:36,467 --> 00:27:39,772
[casey_]: that stuff you just have to take
into consideration but that was just you know

661
00:27:39,792 --> 00:27:43,278
[casey_]: when you start talking bout those heavy
lifts that's always that's always a question that

662
00:27:43,298 --> 00:27:46,743
[casey_]: comes to my mind oh well okay
so you're heavy lifting a right now how

663
00:27:47,264 --> 00:27:49,607
[casey_]: how is that going and what is
what does the

664
00:27:49,495 --> 00:27:49,675
[lee_yoder]: yeah

665
00:27:49,687 --> 00:27:50,388
[casey_]: turn what is

666
00:27:50,417 --> 00:27:50,537
[lee_yoder]: it's

667
00:27:50,448 --> 00:27:50,668
[casey_]: it look

668
00:27:50,597 --> 00:27:50,837
[lee_yoder]: a big

669
00:27:50,768 --> 00:27:50,888
[casey_]: like

670
00:27:50,898 --> 00:27:52,441
[lee_yoder]: job yeah takes

671
00:27:52,440 --> 00:27:52,580
[casey_]: but

672
00:27:52,481 --> 00:27:52,922
[lee_yoder]: a lot of time

673
00:27:53,201 --> 00:27:53,502
[casey_]: awesome

674
00:27:53,383 --> 00:27:53,503
[lee_yoder]: yep

675
00:27:53,622 --> 00:27:55,064
[casey_]: and so so so we

676
00:27:55,027 --> 00:27:56,105
[lee_yoder]: oh

677
00:27:55,144 --> 00:28:00,934
[casey_]: start talking about threefold real estate real
quick as we as we move towards closing

678
00:28:01,014 --> 00:28:01,956
[casey_]: our episode out here

679
00:28:01,799 --> 00:28:01,820
[lee_yoder]: a

680
00:28:03,478 --> 00:28:06,827
[casey_]: what is what on deck right now
what are we looking like i know you

681
00:28:06,907 --> 00:28:12,281
[casey_]: said prior to the show that your
your acquisitions you're pretty well not acquiring anything

682
00:28:12,341 --> 00:28:17,089
[casey_]: right now unless i mean obviously some
heck of a deal pops up you probably

683
00:28:16,905 --> 00:28:17,046
[lee_yoder]: yeah

684
00:28:17,290 --> 00:28:18,171
[casey_]: try to make a move but

685
00:28:18,595 --> 00:28:18,718
[lee_yoder]: yeah

686
00:28:19,173 --> 00:28:25,847
[casey_]: you're not acquiring your focused on renovating
but as far as acquiring goes are you

687
00:28:26,047 --> 00:28:29,056
[casey_]: just kind of sitting on the side
lines right now waiting i mean what are

688
00:28:29,096 --> 00:28:29,738
[casey_]: your thoughts there

689
00:28:30,485 --> 00:28:33,188
[lee_yoder]: yeah i would i definitely wouldn't say
we're sitting on the side lines we are

690
00:28:33,268 --> 00:28:37,351
[lee_yoder]: still looking at deals underwriting deals i
just i'm just kind of pessimistic right now

691
00:28:38,232 --> 00:28:44,801
[lee_yoder]: you know sellers are still wanting just
really high prices you know really condensed cap

692
00:28:44,862 --> 00:28:48,508
[lee_yoder]: rates and our borrowing cost are more
you know so they might have you know

693
00:28:48,568 --> 00:28:51,112
[lee_yoder]: it might be like now you can
buy a six cap instead of a five

694
00:28:51,172 --> 00:28:52,053
[lee_yoder]: cap but

695
00:28:52,320 --> 00:28:52,401
[casey_]: ye

696
00:28:52,474 --> 00:28:55,840
[lee_yoder]: you you know your your your mortgage
is below the line so it doesn't really

697
00:28:55,880 --> 00:29:00,908
[lee_yoder]: factor into the the cap rate but
it factors into your cash flow and we

698
00:29:01,169 --> 00:29:05,601
[lee_yoder]: we invest for cash flow so casey
can you give me one minute

699
00:29:05,840 --> 00:29:06,002
[casey_]: yeah

700
00:29:06,575 --> 00:29:07,888
[lee_yoder]: let me do i'll be right now

701
00:29:08,300 --> 00:29:12,328
[casey_]: clark i need you to edit this
out please when you review through this

702
00:29:27,210 --> 00:29:27,450
[casey_]: yeah

703
00:29:32,280 --> 00:29:32,580
[casey_]: yeah

704
00:29:38,250 --> 00:29:38,531
[casey_]: oh

705
00:29:44,010 --> 00:29:46,490
[casey_]: oh yeah

706
00:29:48,695 --> 00:29:49,475
[lee_yoder]: yeah

707
00:29:51,600 --> 00:29:51,842
[casey_]: oh

708
00:29:53,585 --> 00:29:56,128
[lee_yoder]: yeah

709
00:29:55,230 --> 00:29:55,551
[casey_]: oh

710
00:29:56,288 --> 00:29:57,189
[lee_yoder]: so sorry about that case

711
00:29:57,722 --> 00:29:58,410
[casey_]: that's okay man

712
00:29:58,271 --> 00:29:59,272
[lee_yoder]: let me just pick right back up

713
00:29:59,590 --> 00:30:01,877
[casey_]: yeah clark will edit that out don't
worry about it

714
00:30:02,775 --> 00:30:03,777
[lee_yoder]: okay um

715
00:30:05,220 --> 00:30:05,502
[casey_]: oh

716
00:30:05,361 --> 00:30:12,149
[lee_yoder]: oh yeah so sellers are still wanting
you know higher prices our cost of capital

717
00:30:12,190 --> 00:30:12,731
[lee_yoder]: has gone up

718
00:30:13,800 --> 00:30:14,400
[casey_]: yeah

719
00:30:14,135 --> 00:30:17,640
[lee_yoder]: it's it's still really hard to find
a good deal there's not you know what

720
00:30:17,721 --> 00:30:21,687
[lee_yoder]: we're seeing any way case you about
you guys um not near as many offers

721
00:30:21,747 --> 00:30:24,852
[lee_yoder]: on deals i mean the ninety five
unit that we i mean i'm embarrassed to

722
00:30:24,913 --> 00:30:29,600
[lee_yoder]: say this but the ninety five unit
uh that we closed on in may i

723
00:30:29,640 --> 00:30:33,567
[lee_yoder]: think there were sixteen offers and they
took like eleven of us to the best

724
00:30:33,647 --> 00:30:36,812
[lee_yoder]: and final and then we had like
another best and final like i think top

725
00:30:36,913 --> 00:30:41,679
[lee_yoder]: two and then we got um and
we're happy with that but it doesn't feel

726
00:30:41,779 --> 00:30:44,902
[lee_yoder]: good when you're the you know the
best offer out of sixteen it feels like

727
00:30:45,323 --> 00:30:45,563
[lee_yoder]: you know

728
00:30:45,501 --> 00:30:52,458
[casey_]: man that kind especially for for not
that you're a beginner but especially for

729
00:30:53,728 --> 00:30:54,677
[lee_yoder]: yeah still am yeah

730
00:30:54,850 --> 00:30:55,811
[casey_]: somebody that is

731
00:30:56,285 --> 00:30:56,726
[lee_yoder]: oh

732
00:30:56,372 --> 00:30:59,778
[casey_]: on that say beginning twenty five percent
of their

733
00:31:00,416 --> 00:31:00,578
[lee_yoder]: yes

734
00:31:00,880 --> 00:31:04,686
[casey_]: of their overall learning of the business
i mean yeah that's that can be a

735
00:31:04,726 --> 00:31:08,252
[casey_]: little bit daunting for sure but one
you get it taken down and once you

736
00:31:08,312 --> 00:31:11,758
[casey_]: get it figured out i mean it
just what i've always seen at least with

737
00:31:11,878 --> 00:31:19,431
[casey_]: myself is any time and i've only
been involved in i say too maybe three

738
00:31:19,992 --> 00:31:23,998
[casey_]: like big multi words like multi multi
offer kind of stuff now as an agent

739
00:31:24,259 --> 00:31:26,583
[casey_]: on the sale side several times but

740
00:31:26,546 --> 00:31:26,687
[lee_yoder]: yeah

741
00:31:27,704 --> 00:31:32,232
[casey_]: you always the thing that always bugs
the worst is when i'm

742
00:31:32,187 --> 00:31:32,369
[lee_yoder]: yes

743
00:31:32,292 --> 00:31:36,319
[casey_]: like okay so if i go into
this deal and i'm the highest bid what

744
00:31:36,960 --> 00:31:39,123
[casey_]: is somebody else seeing that i'm not
what have

745
00:31:39,025 --> 00:31:39,146
[lee_yoder]: oh

746
00:31:39,184 --> 00:31:39,224
[casey_]: i

747
00:31:39,226 --> 00:31:39,387
[lee_yoder]: yeah

748
00:31:39,304 --> 00:31:39,584
[casey_]: missed

749
00:31:39,668 --> 00:31:39,789
[lee_yoder]: yeah

750
00:31:40,265 --> 00:31:40,526
[casey_]: what have

751
00:31:40,572 --> 00:31:41,035
[lee_yoder]: absolutely

752
00:31:40,586 --> 00:31:41,648
[casey_]: i missed that's the key

753
00:31:41,718 --> 00:31:43,184
[lee_yoder]: yeah

754
00:31:41,868 --> 00:31:45,154
[casey_]: that's that's the to it all it's
always what have i missed and then

755
00:31:45,284 --> 00:31:45,305
[lee_yoder]: m

756
00:31:45,354 --> 00:31:49,641
[casey_]: it really and truthfully with that scenario
when you step into that and you start

757
00:31:49,681 --> 00:31:56,475
[casey_]: thinking about that that really has always
made me focus better harder and longer on

758
00:31:56,515 --> 00:31:57,157
[casey_]: due diligence

759
00:31:57,646 --> 00:32:00,365
[lee_yoder]: yeah for sure yah

760
00:32:00,600 --> 00:32:00,680
[casey_]: so

761
00:32:00,615 --> 00:32:00,756
[lee_yoder]: yep

762
00:32:01,321 --> 00:32:01,581
[casey_]: awesome

763
00:32:01,685 --> 00:32:01,866
[lee_yoder]: yeah

764
00:32:01,762 --> 00:32:02,163
[casey_]: all right man

765
00:32:02,028 --> 00:32:02,108
[lee_yoder]: so

766
00:32:02,263 --> 00:32:02,483
[casey_]: listen

767
00:32:03,175 --> 00:32:03,296
[lee_yoder]: yeah

768
00:32:03,745 --> 00:32:05,328
[casey_]: what are you what are you gonna
say last point

769
00:32:06,405 --> 00:32:10,310
[lee_yoder]: oh just you know there's not as
many buyers out there like so now a

770
00:32:10,351 --> 00:32:14,727
[lee_yoder]: deal like that is maybe just getting
a few offers but they're still all pretty

771
00:32:14,767 --> 00:32:18,994
[lee_yoder]: high um you know so we're going
to what what i would suggest people keep

772
00:32:19,074 --> 00:32:21,999
[lee_yoder]: doing cases you know if if you
want to buy then then keep offering but

773
00:32:22,359 --> 00:32:24,102
[lee_yoder]: you stick to your underwriting and that's

774
00:32:24,070 --> 00:32:24,172
[casey_]: you

775
00:32:24,122 --> 00:32:24,222
[lee_yoder]: what

776
00:32:24,213 --> 00:32:24,396
[casey_]: have

777
00:32:24,262 --> 00:32:24,663
[lee_yoder]: we're doing

778
00:32:24,477 --> 00:32:24,600
[casey_]: to

779
00:32:24,743 --> 00:32:28,355
[lee_yoder]: you know looked at a deal down
in kentucky down in lexington that i

780
00:32:28,950 --> 00:32:29,610
[casey_]: yeah

781
00:32:29,138 --> 00:32:29,580
[lee_yoder]: loved

782
00:32:30,931 --> 00:32:31,092
[casey_]: good

783
00:32:31,055 --> 00:32:31,195
[lee_yoder]: it was

784
00:32:31,153 --> 00:32:31,455
[casey_]: tone

785
00:32:31,235 --> 00:32:34,281
[lee_yoder]: a hundred and sixty units kind of
more be class but had a lot of

786
00:32:34,301 --> 00:32:39,049
[lee_yoder]: value out opportunity but i think i
was at like fourteen million want ed seventeen

787
00:32:39,590 --> 00:32:39,711
[casey_]: yeah

788
00:32:40,211 --> 00:32:42,996
[lee_yoder]: you know told the broker hey here's
where i'm at would love to have the

789
00:32:43,016 --> 00:32:46,822
[lee_yoder]: property if if for some reason you
can't get anywhere close to seventeen then let

790
00:32:46,862 --> 00:32:49,426
[lee_yoder]: me know because i'd love to take
it down but um you know so i

791
00:32:49,506 --> 00:32:53,794
[lee_yoder]: keep looking at deals keep underwriting them
but that hen i came out at we'd

792
00:32:53,874 --> 00:32:56,718
[lee_yoder]: like to have a fourteen they think
they might get seventeen if they do great

793
00:32:56,819 --> 00:32:59,142
[lee_yoder]: good for them but we'll just keep
doing that and i think that's

794
00:32:59,220 --> 00:32:59,301
[casey_]: ye

795
00:32:59,243 --> 00:33:00,264
[lee_yoder]: that's what you ought to keep doing

796
00:33:00,980 --> 00:33:01,161
[casey_]: that's

797
00:33:01,152 --> 00:33:01,232
[lee_yoder]: you

798
00:33:01,241 --> 00:33:01,321
[casey_]: the

799
00:33:01,273 --> 00:33:01,374
[lee_yoder]: just

800
00:33:01,361 --> 00:33:01,521
[casey_]: part

801
00:33:01,414 --> 00:33:01,575
[lee_yoder]: keep me

802
00:33:01,581 --> 00:33:01,842
[casey_]: i love

803
00:33:01,838 --> 00:33:02,140
[lee_yoder]: practice

804
00:33:01,902 --> 00:33:06,169
[casey_]: about this business is the emotional attachment
has gone because my wife will tell you

805
00:33:06,509 --> 00:33:08,693
[casey_]: i am not emotionally attached to

806
00:33:08,615 --> 00:33:09,057
[lee_yoder]: oh

807
00:33:08,933 --> 00:33:11,718
[casey_]: much in this world so what

808
00:33:11,706 --> 00:33:11,947
[lee_yoder]: that's

809
00:33:11,818 --> 00:33:12,239
[casey_]: i love

810
00:33:12,027 --> 00:33:12,267
[lee_yoder]: good

811
00:33:12,299 --> 00:33:12,540
[casey_]: a man

812
00:33:12,608 --> 00:33:13,330
[lee_yoder]: you'll fit in then

813
00:33:13,762 --> 00:33:13,942
[casey_]: that's

814
00:33:13,872 --> 00:33:14,012
[lee_yoder]: yeah

815
00:33:13,962 --> 00:33:16,686
[casey_]: what i love you just don't you
just don't get emotionally attached to it it's

816
00:33:16,726 --> 00:33:19,892
[casey_]: a number it's a business move it's
a this it's a that but it's not

817
00:33:20,192 --> 00:33:23,738
[casey_]: nothing that that hey if it sells
great if they get that great if they

818
00:33:23,798 --> 00:33:24,980
[casey_]: don't now

819
00:33:24,935 --> 00:33:25,655
[lee_yoder]: yes

820
00:33:25,160 --> 00:33:26,202
[casey_]: here's my offer so

821
00:33:26,265 --> 00:33:26,409
[lee_yoder]: yeah

822
00:33:26,963 --> 00:33:29,728
[casey_]: awesome all right man well listen we're
running out of time here but with that

823
00:33:30,149 --> 00:33:32,773
[casey_]: being said i have a couple of
questions that we ask every guest comes on

824
00:33:32,813 --> 00:33:33,835
[casey_]: the show the first

825
00:33:33,818 --> 00:33:33,982
[lee_yoder]: good

826
00:33:33,875 --> 00:33:37,424
[casey_]: of those questions what is the best
book that you have recently read are currently

827
00:33:37,484 --> 00:33:37,706
[casey_]: reading

828
00:33:39,716 --> 00:33:46,908
[lee_yoder]: um one i recently read was called
the ruthless elimination of hurry um i think

829
00:33:46,928 --> 00:33:49,612
[lee_yoder]: this is probably good for almost everybody
but certainly if you're kind of like a

830
00:33:49,652 --> 00:33:55,843
[lee_yoder]: high energy you know ambitious person just
trying to get a ton done it's written

831
00:33:55,883 --> 00:34:02,433
[lee_yoder]: by a pastor and it's just a
great book that talks about slowing down and

832
00:34:03,436 --> 00:34:09,106
[lee_yoder]: you know just the benefits of that
is you know christian focus and stuff but

833
00:34:09,427 --> 00:34:12,532
[lee_yoder]: i think everybody could benefit from it
but one thing i've noticed cases that that's

834
00:34:12,572 --> 00:34:18,502
[lee_yoder]: actually benefited me my wife is as
much less she's much more risk adverse and

835
00:34:18,562 --> 00:34:21,928
[lee_yoder]: she doesn't like to just jump out
and build a parashet on the way down

836
00:34:22,008 --> 00:34:25,634
[lee_yoder]: the way i do so she's always
kind of hey hold on hold on let's

837
00:34:25,654 --> 00:34:29,200
[lee_yoder]: think about this and that's been very
beneficial actually as much as it drives

838
00:34:29,110 --> 00:34:29,272
[casey_]: yep

839
00:34:29,260 --> 00:34:34,228
[lee_yoder]: me nuts you know we've taken less
steps but they're all much bigger steps because

840
00:34:34,288 --> 00:34:34,389
[lee_yoder]: we

841
00:34:34,400 --> 00:34:34,521
[casey_]: yep

842
00:34:35,110 --> 00:34:37,574
[lee_yoder]: she kind of causes me to slow
down so i think that book's good for

843
00:34:37,594 --> 00:34:40,078
[lee_yoder]: everybody to sometimes just slow down because
you know

844
00:34:40,011 --> 00:34:40,153
[casey_]: sure

845
00:34:40,539 --> 00:34:45,327
[lee_yoder]: what they say cases you don't want
to just be efficient you want to be

846
00:34:45,387 --> 00:34:48,292
[lee_yoder]: effective you don't just want to get
a bunch done i mean there's a lot

847
00:34:48,312 --> 00:34:50,736
[lee_yoder]: of people out there that re very
efficient they'll do a whole bunch of work

848
00:34:50,836 --> 00:34:54,041
[lee_yoder]: and it's like yeah but did any
of that work really move the needle forward

849
00:34:54,121 --> 00:34:54,222
[lee_yoder]: so

850
00:34:54,351 --> 00:34:54,495
[casey_]: yeah

851
00:34:54,542 --> 00:34:58,551
[lee_yoder]: it's not just about slow down and
having a better life and maybe being a

852
00:34:58,591 --> 00:35:02,941
[lee_yoder]: better dad i think it's better for
business often to sometimes slow down and just

853
00:35:02,981 --> 00:35:03,342
[lee_yoder]: do the most

854
00:35:03,293 --> 00:35:03,457
[casey_]: sure

855
00:35:03,402 --> 00:35:03,923
[lee_yoder]: important things

856
00:35:05,011 --> 00:35:10,058
[casey_]: awesome next question what is a dream
vacation that you have taken or hope to

857
00:35:10,098 --> 00:35:10,279
[casey_]: take

858
00:35:11,745 --> 00:35:17,274
[lee_yoder]: oh man i would say so my
wife and i drove out west together not

859
00:35:17,314 --> 00:35:20,700
[lee_yoder]: too long after we were married m
spent like i think we just spent ten

860
00:35:20,740 --> 00:35:24,707
[lee_yoder]: days out there we actually took my
i had a six under dollar motorcycle that

861
00:35:24,747 --> 00:35:28,072
[lee_yoder]: we took on a trailer and drove
that around in some of the mountains it

862
00:35:28,132 --> 00:35:32,740
[lee_yoder]: was awesome so now we have two
young kids there nine and almost seven and

863
00:35:32,780 --> 00:35:35,184
[lee_yoder]: so now i can't wait to take
them out but i'd like to you know

864
00:35:35,585 --> 00:35:39,712
[lee_yoder]: we just went up north north west
like up to glacier national park yellowstone national

865
00:35:39,752 --> 00:35:42,055
[lee_yoder]: park i'd like to take the kids
up there and then go all the way

866
00:35:42,116 --> 00:35:45,421
[lee_yoder]: down you know go through southern united
states to like you know a month or

867
00:35:45,501 --> 00:35:47,144
[lee_yoder]: two with them just traveling

868
00:35:47,180 --> 00:35:47,400
[casey_]: shoot

869
00:35:47,184 --> 00:35:47,344
[lee_yoder]: around

870
00:35:47,500 --> 00:35:47,701
[casey_]: jim

871
00:35:47,546 --> 00:35:47,812
[lee_yoder]: amping

872
00:35:47,801 --> 00:35:49,423
[casey_]: man that'd be great and just drive

873
00:35:49,275 --> 00:35:49,397
[lee_yoder]: yeah

874
00:35:49,484 --> 00:35:52,989
[casey_]: and look and see and talk and
yeah and test

875
00:35:52,855 --> 00:35:53,622
[lee_yoder]: camp yep

876
00:35:53,971 --> 00:35:54,111
[casey_]: there

877
00:35:54,045 --> 00:35:54,126
[lee_yoder]: i'd

878
00:35:54,171 --> 00:35:54,272
[casey_]: you

879
00:35:54,187 --> 00:35:54,368
[lee_yoder]: love

880
00:35:54,312 --> 00:35:54,392
[casey_]: go

881
00:35:54,408 --> 00:35:54,509
[lee_yoder]: to

882
00:35:54,612 --> 00:35:55,193
[casey_]: an awesome

883
00:35:55,395 --> 00:35:55,538
[lee_yoder]: yeah

884
00:35:55,494 --> 00:35:58,699
[casey_]: all right so if the listeners heard
something that resonated with them or maybe they

885
00:35:58,739 --> 00:36:01,582
[casey_]: want to read out and talk to
you a little bit or learn more about

886
00:36:02,143 --> 00:36:05,947
[casey_]: your coaches and who who your your
mentors and stuff are what is

887
00:36:05,926 --> 00:36:06,049
[lee_yoder]: yeah

888
00:36:05,988 --> 00:36:07,109
[casey_]: the best way for them to do
that

889
00:36:07,995 --> 00:36:11,381
[lee_yoder]: yeah the best way to just jump
on our website it's just our name three

890
00:36:11,541 --> 00:36:14,265
[lee_yoder]: fold r e i as in real
estate

891
00:36:14,310 --> 00:36:15,090
[casey_]: yeah

892
00:36:14,346 --> 00:36:18,152
[lee_yoder]: investing so in three folds spelled out
t h r e f o l d

893
00:36:18,733 --> 00:36:23,341
[lee_yoder]: three fold i dot com everything there
you can contact us through there or email

894
00:36:23,881 --> 00:36:27,467
[lee_yoder]: is in vo at three fold i
dot com feel free to email us but

895
00:36:27,507 --> 00:36:29,651
[lee_yoder]: yeah just check out the website and
you'll yu'll be able to find us and

896
00:36:29,671 --> 00:36:32,338
[lee_yoder]: then i'm pretty active on linked in
as well if you just look

897
00:36:32,290 --> 00:36:32,452
[casey_]: okay

898
00:36:32,398 --> 00:36:32,962
[lee_yoder]: for leader

899
00:36:33,490 --> 00:36:37,256
[casey_]: awesome awesome great l thank you so
much for your time today we really do

900
00:36:37,316 --> 00:36:41,583
[casey_]: appreciate it and listeners as always remember
to head down leave us a review and

901
00:36:41,723 --> 00:36:44,889
[casey_]: smash that subscribe button so that you
can be notified when we release new episodes

902
00:36:44,969 --> 00:36:48,559
[casey_]: no content and lee again thank you
so much for your time listeners thank you

903
00:36:48,639 --> 00:36:51,408
[casey_]: for your time i hope everybody has
a wonderful rest of the day