YOUR DAILY REAL ESTATE INVESTMENT SHOW
Oct. 7, 2022

Maximize Your Capital Raising Journey with Lee Yoder

Maximize Your Capital Raising Journey with Lee Yoder

In this episode of Cash Flow Pro, we talk with Lee Yoder, Founder, and CEO of Threefold Real Estate. Lee was a physical therapist with a stable and flexible job when he realized he needed to find some further fulfillment. Eventually, he...


In this episode of Cash Flow Pro, we talk with Lee Yoder, Founder, and CEO of Threefold Real Estate. Lee was a physical therapist with a stable and flexible job when he realized he needed to find some further fulfillment. Eventually, he discovered his passion for real estate and began his portfolio of small apartment buildings. Now, 

Lee focuses on forging a path that will generate incredible wealth and opportunity for all involved. Tune in and take notes on how Lee has raised over 5M through 506B investors and more!

 

 

In this episode, we discuss the following:

  • Investing in the right mastermind and mentor 
  • Reasons to love real estate 
  • Raising capital with 506B 
  • Utilizing your local financing options 
  • Dealing with loans and credit unions 
  • Property Management 

 

Make sure to tune in to this episode to find out more!

 

Find your flow, 

Casey Brown

 

Resources mentioned in this podcast:

 

  1. www.threefoldrei.com
  2. https://www.linkedin.com/in/lee-yoder-25793215a/
Transcript

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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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00:09:24,785 --> 00:09:28,531
[lee_yoder]: bought two thousand eighteen they were in
my my home town you know little town

196
00:09:28,972 --> 00:09:33,520
[lee_yoder]: here between data cincinnati i started local
and then the next year in two thousand

197
00:09:33,540 --> 00:09:37,026
[lee_yoder]: seventeen we got a few small multi
families and those were you know just twenty

198
00:09:37,066 --> 00:09:40,396
[lee_yoder]: to thirty minutes from my house so
um now we've got a couple that are

199
00:09:40,576 --> 00:09:42,843
[lee_yoder]: more like fifty minutes from my house
but everything has been pretty local

200
00:09:43,330 --> 00:09:49,256
[casey_]: sure sure now what as far as
outside capital is concerned and and

201
00:09:49,265 --> 00:09:49,285
[lee_yoder]: m

202
00:09:49,316 --> 00:09:51,198
[casey_]: raising capital for specific deals how

203
00:09:51,185 --> 00:09:51,205
[lee_yoder]: m

204
00:09:51,238 --> 00:09:52,139
[casey_]: much of that have you done

205
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

Lee Yoder Profile Photo

Lee Yoder

Threefold Real Estate