April 30, 2022

Partnerships and Filling the Knowledge Gap with Sandhya Seshadri

Partnerships and Filling the Knowledge Gap with Sandhya Seshadri

"You want to be super cautious about your first deal. You want to make sure all the underwriting is conservative and that you partner with people who can cover the gaps that are in your knowledge." In the 16th episode of Cash Flow Pro, we get to chat...

"You want to be super cautious about your first deal. You want to make sure all the underwriting is conservative and that you partner with people who can cover the gaps that are in your knowledge."

In the 16th episode of Cash Flow Pro, we get to chat with Sandhya Seshadri, CEO of Sandhya has been active in the equities market for over 20 years and has invested as a Limited Partner, Key Principal, or General Partner, amassing $200M in assets throughout the United States. Today, she tells us how she went from corporate life as an engineer to a successful real estate investor. is a company that identifies, acquires, and crates passive income through real estate. Sandhya created the company after she realized the unique tax advantage real estate investments offer and how multifamily Apartment Communities have proven to be less volatile than the equities markets and residential real estate. 


In this episode, we discuss:


  • Starting at corporate, shifting into the stock market, and realizing the perks of real estate investment. 
  • What to look for in your first LP investment and general partnership deal
  • The quality-of-life properties hold and the details that attract tenants to your investment.
  • The concept of money growing your business and vetting your opportunities 


If you are interested in learning how to start in real estate, and create lasting and successful partnerships, pay attention to today's episode and how you can build your wealth through apartment syndications. 

Find your flow, 

Casey Brown

Resources mentioned in this podcast: 





Unknown Speaker  0:06  
Hey there, and welcome to today's episode of cash flow Pro. We want to welcome Sonia just Seshadri. To the show today, she is based in Dallas and has a company called multifamily for And I think is the company Or is that just the website address? I always get confused sometimes. Yeah, it's multifamily for you number four and y o u Is the address, but we're in the process of rebranding. So we'll come up with another name in about a month. Oh, nine, because you'll get redirected from here to that new name. Excellent. Excellent. So tell us a little bit about

Unknown Speaker  0:48  
where you been where how you got into real estate, just any of the backstory that you have, that might help the listeners, because the thing is, is that our listeners,

Unknown Speaker  1:00  
we all tend to want to hear real life examples of, of how you took where they might be, where you were, where you were, and then how you got to where you are now. So tell us a little bit about how you got in real estate and what what led you down that path. So I was in the corporate world as an engineer, like most Asian geeks, have a web background worked in a very technical field, figured out that all the management types and marketing types, were making all the decisions for us technical folks. So I decided to become one of them. I got myself an MBA, got educated, and started investing part time in the stock market while I had this full time job. And then once I had children I took for you know, investing in the stock market as a full time gig. And that went well, because I'd had several investor clubs and a decent amount of education to where it became less of a gamble. But the biggest problem with that was one, it's the volatility of the stock market. And two, you are you know, paying a lot in taxes if you actually do well in it. So I wanted something that would give me a tax advantage and that's when I looked at real estate. The problem with single family was that I wasn't a handy person with a knowledge of, you know, handling tenants toilets, trash and termites, the

Unknown Speaker  2:13  
the DS the T's so for cheese on a Thanksgiving lunch, you know, or dinner, I didn't want to be called for to fix a leaky toilet. So that's when I said okay, I've had several friends who do these fixin flips and stuff. And I'm not trained and knowledgeable enough to do that successfully, I could get easily fooled by you know, a contractor into paying overpaying for something. But when I attended a weekend seminar about multifamily, then it started making sense because I would be an asset manager and a full time property management company would take care of the day to day tasks. And then I can find partners to help me figure out what I don't know like construction management, I could partner with somebody who's good at that. And so that's why I joined a mentoring program, I became good at this multifamily started out passively and then went to the active side because as a passive investor, you don't have to take the risks of signing a loan, being responsible for other people's money in a syndication, but you can kind of go along for the ride and kind of take a peek and see Oh, what's this pilot doing? What's the driver doing here? What do I want to learn about it? And then I found my own syndication found partners. And so now I am full time syndicating deals in the Dallas Fort Worth area and I've got over you know $1,000 Now under man Oh, wow. million dollars worth so it's been great. I love the first thing that I love your charisma. And I love your ability to to relate the your experience and your your efforts to I just I love your excitement about it just you just have this you have this intoxicating excitement about the real estate business, the real estate investing business. And so so if we you kind of went through your backstory now a little bit, the next question that I'd like to ask and as as my listeners are very aware, we go through this kind of the same framework with a lot of our guests now, I want you to go back and think about the very first whether Okay, so if you've invested as an LP before the risks and maybe the fears and stuff would be relevant for sure. As far as so. So on your first LP investment, maybe tell us say how much of an investment that was to begin with? And then what were your what were your initial fears? Like I obviously everybody has the fear of what what if i A What if I lose the money or b What if the guy runs off with my money or see what if this or that or the other or the building burns down whatever though so so we all have those initial fears wouldn't win when investing isn't LP but what was there anything different that you can remember like what was what was your first thoughts? So the big thing was that I was part of it.

Unknown Speaker  5:00  
Brad some rocks mentoring program. So I had met a lot of people in the group because of that. And I knew that coaches had looked at the deal and had approved it as far as okay, this makes sense, the underwriting makes sense. It's conservative, etc. So I know it had been already vetted by coaches. And then I spoke to the two operators who are running this property who are going to be running this property. And they sounded very knowledgeable, of course, I was brand new and naive. So you know, anybody might have sounded really knowledgeable, but I felt like I could trust these guys. And here's the other thing, I'm a Dallas Resident Now, 31 plus years, and this property was located in the Dallas area. So what is the first thing I did, I drove to the property with these guys, I saw that, okay, this is an actual solid and real asset, it's not just some random thing. So, you know, it was an address that I could verify on a piece of paper that they owned it, and it was through reputable syndication lawyer and all of that. So they had all the pieces put together, it was not just somebody random off the street, I had just met as a complete stranger. So that was a big piece of it. And then remember, I had already worked for a decade in the corporate world. So I had all that retirement money, and I took it out. And so you know, if you look at a typical person, like me with a corporate job, initially, you're going to not look at it, this retirement money is something you need immediately. So it was definitely out in the horizon as it's going to be 2030 years before I want this money. So I took a piece of that money. So $50,000 was my first investment that I put in from my retirement nest egg. So it's not money I'm counting on immediately. And secondly, it's not money that I could use for my own deal, unless I took it out of retirement. So there were two reasons and then the confidence with the location because I knew the area, well, I knew property wouldn't depreciate in value by a significant amount, I knew that maybe there was a challenge with the cash flow in the first year of operations when you take over, right. But then eventually, I knew five years from today would made money. And interestingly enough, that was back in December of 2018, that I made my first investment. And today we're in March of 2022, that deal has sold completed a full cycle, and they more than doubled my money. So my 1000 came back to me as 130,000, which is great. So I'm very happy with that investment. So I say, you know, passive investment is great for a lot of different reasons. One, even if you can operate your own properties, how many can you operate before you say I really want this mailbox money. So if you pick good operators, and you know, the locations, hey, that's half the risk, and you always look at real estate as a long term investment. It's not something you want to cash out in six months, you know, not the kind of, you look at it as in a three to five year horizon, I hope I make a little more money and this money is going to be better off sitting in that property, then in the bank, especially in the inflationary period we're in today. That's right. That's right. And then you know, and then inflation basically just eating it up. Because, yeah, so so. So that's Wow, $130,000 out of a $50,000 investment, you know, and that's I told God, just the other day, I was like, and he was telling me something about how he made that virtually, almost an identical return. And I said, Take that stock market, take that take that financial planners and tell me that, you know, it's it's it's so unbelievable to me that there's people out there that will actually talk somebody out of a real estate investment similar to that. Oh, you're talking about? Can I talk about my first general partnership deal? And how I got into that? Absolutely. Let's hear that. So just like this, I'm part of a larger group. So we all underwrite deals the same way. So financially, our underwriting model, our conservative underwriting, exit cap, assumptions, rent bumps, all of those things are very similar. So it's like we talk the same language within the group. And so I have met a lot of people due to you know, we have frequent bus tours and other programs are and we networked a lot through Facebook groups, calls, emails, etc. So I found some partners with whom I had, you know, met multiple times in the group. And where we have synergies and discovered that we were both going after the same deal. So there's these two guys who are college buddies, and living out of state who are going after a deal in the Dallas area. And I was also going out for that same deal independently. So I was like, Hey, why don't we just join forces? You guys have the experience they had done smaller multifamily before, but they had never done anything in the Dallas area. So I was like, I can be your eyes, yours boots on the ground. You want me to show up the property every day. You know, I got my kid, I send my kids to school, and then I can show up every day to the property. And you know, you'll be the brain and I'll be the brawn and I'll work hard and I'm here to learn stuff. So they liked that idea. They were willing to join forces with me and take me on. And so that deal, we acquired it in August of 2019. And then we sold it in November of 2021. And guess what? 27 months, we provided a 3x return. So if you invested 100k It would have come back to us. 300k. So that's how well my first GPD learned because I lowered my risk by investing in an area I was familiar with the

Unknown Speaker  10:00  
underwriting was conservative and reviewed by neutral people who had no skin in the game, no bias, they could just tell it like it is. And I partnered with people who have the experience. Well, and that's, you know, and that's what I often talk about us being a fund of funds, it's the same scenario it takes it allows it allows somebody to, to invest in a deal in Dallas like yourself, or being you being in Dallas, you know, the area, you know, the the positives and negatives, the areas that have maybe appreciated or regressed some whatever the case is. And that's the same, it's the same deal. I mean, it's it's it's buying somebody informed, or investing with somebody that has the firsthand information is what's so crucial. And, and but look right there. I mean, people talk about a 1.25x or a 1.5x. I mean, there you go. double that. And then that's that. I mean, now, what was was that the toll was our cash was there distributions as you went along, and that was the total was the three, that's the total return. And so we were able to make distributions throughout COVID, when 2020, double digit, and all of our distributions as well as the overall returns were way more than, you know, what we had initially projected. So now I actually have some fans, I have a fan club, I have repeat investors, I like people who nested in four or five deals with me now the same people. So that's kind of great. And that's what you want to get to is you want to be super cautious about your first deal. You want to make sure all the underwriting is conservative, and that you partner with people who can cover the gaps that's in your knowledge guy, right. So I can show up and I know the area well, but do I really know what Asset Management entails in running a multifamily property? Not three years ago, when I started out, I didn't, but I do now, because I've experienced it with so many properties already. You know, we talk so much on this show about and one of one of the I'm a huge proponent of somebody finding a mentor. And there again, you you just you drove that nail even deeper into the tree here with exactly what you just said. I mean, not the fact that maybe you wouldn't have eventually figured out what you figured out. But you you fast tracked that and I don't even have a mentorship program nor mastermind, I'm in a mastermind. You are as well. And so, you know, but but but just just for me to say, Hey, guys, if you want to learn how to do this, go out and find a mentor somebody that that you can learn from that can fast track your you can piggyback on their experience, learn the stuff that you need to learn because ultimately, the learning curve for this stuff isn't it's not massive, it's it's average. And so when you but the fact of the matter is, is it can go It can go from from good to bad really quick when you're dealing with somebody else's money. And the responsibilities that come along with other people's money is is one of those deals where you you there's very little room for error. Let's just say that so you're underwriting examples, and you said you had very very conservative third party underwriters who didn't have any skin in the game who could who could basically just tell you like it is a hey, we think this is great, this is not great, whatever. Now where

Unknown Speaker  13:19  
so So you all were both chasing after this first deal and you you come up with the idea to just say hey, let's partner and so on. Okay, now, where and how did you find this deal? It was listed by a popular broker in the area Marcus and Millichap but the property happened to be in an area called Cleburne and so most people from out of state may not even know where that is, let alone what his proximity is. And it's actually just 30 miles from Fort Worth. So there were people who wanted to be staying more closer to the center of the city and they didn't want to go to the what's called the outskirts or a tertiary market kind of place and we were like, that's only 30 minutes from downtown Fort whether it's this beautiful Chisholm Trail, it's a brand new you know, high school 100 million dollar high school being built there. There's a park a manufacturing company, there's a Texas state park nearby this has all the demographics there's a Starbucks there's a Chick fil A, all the signs that you look for in your analysis of a market so why not and the best part was it turned out Cleburne is such a cute little place onto itself. Those who live there don't want to move they want to stay put there. They don't know.

Unknown Speaker  14:27  
What Yeah, what direction is that from? From? Is it towards the Frisco area or west of Fort Worth? 30 bucks. Yeah, so forward this west of Dallas so you have Dallas Fort Worth as your Twin Cities and you have the airport right in the middle and then from Fort Worth, you go on the Chisholm Trail and that's where Cleburne is located. Also, also and that now tell us a little bit let's let's get some facts on the on the deal. How much was the raise and how many doors was it so on so forth? This was $86

Unknown Speaker  15:00  
The race was about $2.4 million.

Unknown Speaker  15:04  
The total price was under 7 million. Texas, isn't it on this lawyer's name. So we typically don't say the exact price, but I know I have in the past, and then yeah, we were able to sell it for more than double the 2.4 plus. So it was over a 5 million plus prize from what we paid for it. So and, and there's still plenty of value add for it. So that's the thing people don't realize is you can keep changing things and adding value as long as it's things that the residents are willing to pay for, right?

Unknown Speaker  15:35  
A certain ceiling, there's a certain rent up to which people can still pay. If you look at median home prices, what at what cost, they can go buy a house, and what is the median household income and they're in a one mile radius. So you put a pool in in your house or you buy an apartment, or you live in an apartment with a pool? What are you willing to pay for that pool in a maintenance fees for your own house, I mean, it's the same trade, it's and you can add those things. And you can add fitness centers and parking garages and park covered parking and arcades or whatever, you know what, like you said, as long as the residents are willing to allow you to increase their rent, or split the cost of said, improvement up amongst the tenants. You're right, your value add is basically endless.

Unknown Speaker  16:29  
Yeah, we added private yards, and people loved it, because they could let their dog out and little kid out there were no yards there. So we had townhouses on one side and apartments on the other. So on the townhouse side, we were able to add private yards to every one of them. So it felt like it was its own little single family kind of area. And people loved it, there was a cul de sac there, there's a nice Greenbelt behind it. So it was very popular, no one had a problem. In fact, our townhouses were always fully occupied and almost waitlisted, you know, people wanting to move in there, we see so much of that, especially, I was raised in Colorado, and a lot of that that same scenario where you just go in there, and you would just see people and you always wondered, like, what's the landlord thinking by just adding? What are they digging up over there putting what are they putting sod and what's the end, the benefit is exactly that. It's, it's a, and from a fund to fund standpoint, of course, one of the one of the first things that we look at, when we're talking to either an operator of a single asset, or a fund manager, is we look at the quality of life that their properties hold.

Unknown Speaker  17:38  
Because honestly, it's the quality of life that their properties hold are is a very solid indicator of what type of of a manager they are. And then of course, you know, the general idea of the tenant, like, like, what's the what's the idea? What are the tenants feeling and how the tenants feel and you know that that's the kind of stuff that that's that you, it's hard to quantify when you're looking at it from an investment standpoint, like what you're talking about. But when you add that element to something, somebody's like, Hey, I don't care to pay 100 bucks more, I don't care to pay $300 more a month, I just give me a yard, like you said, my kids can go out and put they can put their little Little Tykes slot out there, whatever. And that's the kind of stuff that's that's great. And that's so you said so you're saying after you all sold that deal, there was still value add meat on the bone. That's right, you always want to think of your exit strategy and leave some meat on the bone. So there's a property we're about to lose we're in talks with a broker that we only acquired 17 months ago. And the reason is that we have completed most of our CapEx plan and we have already achieved the NOI that we had us like a three to four year target noi, we've already achieved that so the market is doing really well. And if we leave this much meat on the bone we did mostly the exteriors in this particular project, we took care of the bones of the property the systems we changed out you know, things like chillers and air conditioners kind of things we did in this property. And now we did a proof of concept where we took every floorplan and showed the rent bump on two or three units across the board and say look go spend this money on upgrading the interiors you will get this rent bump. Yeah, and then now we're gonna list it so there's plenty of meat on the bone and it's easy stuff it's interior upgrades and most people like that because and it's clear out of 116 doors that we have in this property only seven have been completed right now so and we're still doing it through the next you know couple of months as we list them. We're every time someone moves out we'll go and update the interiors to show that rent bump again. But

Unknown Speaker  19:40  
yeah, it's adding to them you know, you can you when you change how do you quantify other than the initial expense of a paint color changing and apartments paint color from dark to light gray or light, whatever? And you can't quantify that and say, hey, I can I can get X amount of dollars more at this point.

Unknown Speaker  20:00  
I was painted this color, but you can, I guess, middle boy. So go ahead interesting in this deal because we also updated the courtyard, we did the exterior paint color, remove the leasing office and created this gorgeous leasing office etc. Yes, some tenants would move down earlier because they didn't like this property drove. Nice it looked and they move back in. So we are doing the residents who moved back into this property three months ago who had since left this property like over two years ago. They're like, this doesn't look anything like what it used to. And so people can see the visible changes. And another thing we're doing is we're rebranding our properties with a metro as our name. So metro app, you know, 404 metro at 1515. And we're doing everything with a Dallas Cowboys theme colors. So we're doing gray, white silver with navy blue doors, so everybody loves it. So you know, everybody loves it. And Dallas, many of us love it. Right? So not everybody worldwide. But you know, we certainly I'm a big fan base. So that's another popular thing to do in Dallas, you know, you go with your favorite theme colors. So

Unknown Speaker  21:08  
it's a rinse and repeat. We know exactly which color paint and everything to select. And we're doing it across all our properties. Yeah, so the cowboys were doing light gray before light gray was cool, weren't they?

Unknown Speaker  21:19  
That light gray and that little silver and why? Yeah.

Unknown Speaker  21:24  
Yeah, that's great. So all right, well, let's, let's let I'm gonna pluck ECI again here and say that deal that we're talking about it? Let's let's discuss how did that deal come about? Was that the same relationship type of a deal with a broker? Or something that you just picked up? Along the way? Or how did how did that happen? So all the deals I've ever got so far, are all publicly listed by one of the major brokers in the Dallas Fort Worth area. These two deals are from Marcus and Millichap, for example. And so they know us as a prior bra buyer. And they know that our mentoring program, Brad some rock is well established in the Dallas area. So if you come with that clout, you can sort of leverage his resume and say, Hey, we're gonna close this deal. They're already taking serious they take you serious when you walk in the door, because they normally.

Unknown Speaker  22:14  
Yeah, so it really helps to have that going in. So we were definitely favored. And what happened in this other deal that I'm just talking about that I'm going to list now, it was actually sold by somebody within the some rock group as well. So that kind of made it like, okay, it's going from one student to another. So of course, he knows us. And he already knew that, you know, we are definitely going to close, there's no risk of not closing this deal. So that's how we got awarded this deal again. So now do you have what is your what is your structure look like? As far as

Unknown Speaker  22:44  
the Do you have a key partner? Are you the key partner? Do you have what what other type of manat upper sponsor activity is there in your structure? So I ideally like to keep everything as all of us are equal. And we have three or four key partners. That's the easiest way it's done. But in terms of the financial split, I got a very little share on my very first deal, which I think was extremely fair, because I do nothing. And I'm here to learn like an intern. So you get paid like an intern, right? You can't just expect to get paid like the team lead.

Unknown Speaker  23:22  
Louder for the people in the back. I mean, that's right. If you're a first timer with no prior experience, go work and be grateful that you could pick someone's brain who's got all the knowledge and who doesn't need you and you need them.

Unknown Speaker  23:37  
When I get home, and you can tell my kids this, that they don't just deserve everything, because there's somebody I mean, I don't even earn it. And with my kids, I share them the bills. So it's very easy. When we go to the store, we shop and we look at okay, here's your grocery bill, who's paying for this? Where does money come from? It's very easy. Oh, you want candy from the you know, and I love we're checking up where did the money come from? Yeah, so how do you earn it? Well, I'm required. And once they become teens, and I have a kid who's a sophomore right now. So she heard this a lot when she was in high school, which is, legally once you turn 18, I have no obligation to pay your bills, or take care of you, you're supposed to be on your own. So unless you sort of we all are in agreement on what you're going to do, and you don't just go to college and switch majors to decide to be I'm going to quit college and be this artist, I'm not going to pay your bills. You're going to toe the line, you're going to have work hard at getting some scholarships, or you're going to take some extra jobs in the summer, etc. And then we'll cover you right so you have that discussion early on that you know like if you have a phone it's a privilege so when I call you and text you I expect you to pick it up. You don't get to just say I'm gonna just you know, answer the phone when it's my friends or text them and ignore when mom or dad calls right? That's not okay. So we take away it's a privilege and we remove privileges.

Unknown Speaker  25:00  
If you don't toe the line and do what you're saying, of course, if you are smart enough and capable enough and resourceful enough to figure out a way to pay your own bills, of course, you get to make your own rules, go build your own house, stay in your own house, and you get to pay all the bills, and you get to make all the rules. When you pay all the bills, you get to make the rules. It's that simple.

Unknown Speaker  25:20  
Out there, listening. There's a lot of parents out there that are listening right now. And they're they're there. I guarantee you, there's fist pumping in the air saying, Yeah, go on, tell us about it. Try

Unknown Speaker  25:32  
the bills, I think that you never want to be the bad guy when you talk to kids. So I always let the consequences and reality of life show them that. So I just showed them the bills. I said, Okay, guys, this is our, you know, monthly household bills. This is our utility bills. This is what it cost you have, you know, sprinkler running and a pool in the house because our water bill is particularly high compared to a house which doesn't have a pool like our previous house or things like that. And you say this is a car payment, this is what my insurance cost me and you my dear teen driver, look at how much my insurance bill jumped from when you started driving before.

Unknown Speaker  26:05  
Right? You have that cute little dent in your car. And we are like, Oh, poor thing. I'm sorry, you got a dent and you're all rattled. But guess what? This is my bill.

Unknown Speaker  26:16  
You're gonna work hard for this bill and help me out and not ask to get paid every time you want. You do something right. So yep, that's right.

Unknown Speaker  26:24  
That sweet tone and that monotone? Yep, that's right. And no one and one of those things that I always I've kind of famous for saying around my house is you have no concept. And and unfortunately, it's I say unfortunately, fortunately, because we had the kids but

Unknown Speaker  26:40  
you know, I get to show them the concept. What is the concept of money? How do you quantify the concept of money and money is in direct is a direct trade for your time most of the time? Which then leads us to exactly where you and I are in business today. And that is the the ability to make income without it being directly tied to your minutes, your hours, your seconds, your days, whatever the quantifiable time is. So tell us what what do you what are your goals for, say, the next couple of years, and then maybe even your long term goals, because, you know, we were I was at a real estate conference couple months ago. And this was a, this was basically just just next table over listening to discussions. I heard people talk about their goals, probably more than basically any other conference or any place I've ever been, I was just astounded. And I heard everything from half million dollars. Passive a year two, you know, two or $3 million passive a year, all the way to, you know, X number of doors by 2025, or whatever the case is. So what what is your what are your goals. So having worked before in the corporate world, and then come to real estate, I kind of know, my first job, I got a salary of $36,000. So I know what it takes to save money for several years to even come up with $50,000 to invest passively, and give up that control and put it with somebody else. So I know how hard it is for that money versus and I'm not saying this is a bad thing. But there's a lot of people in their early 20s, who haven't had a job earn that money by you know, giving up their time for that job. And then so asking someone for 50k to invest in their deal, or providing that opportunity might be easier ask for them versus for me, I'm like, I know how hard you work for that money. I'm going to safeguard it very, very carefully. So I'm I slow down a little bit. I only do two, maybe three deals a year, because I babysit my deals. So I am the operator. I am the asset manager. I also underwrite the deal. I physically skosh sharp my comm properties, which means I visit all the neighboring apartments of my subject property to find out why are they better? What is their competitive advantage? Or what is my subject property have over them? And what's an idea I can borrow? So I do all of that analysis myself, it all takes time. So I can't go through 10 deals a year because I just raise cash for some deal, right capital. So I babysit my deals. And so it's very important for me to have that control. So I feel more confident about protecting my investors money. So when I go to bed at night, I'm not wondering, oh, did this person do a good job? Last month?

Unknown Speaker  29:31  
Capital and I don't know how it's going. These financials don't look so great or worse. Oh, it's March 31. I still don't know how the property performed in the first quarter. I have all that. I know exactly how many vacant units I have across all my properties because I only have a handful. And I know exactly what each property managers doing about them. I know that one of them went to eviction court today and got judgment. So in five days, we're going to evict that tenant, they're not going to appeal. So I know things to that level of detail. So

Unknown Speaker  30:00  
For me to scale as far as goals go, because I got a text, I am in text communication with all my managers, because they trust me. So my goal to scale is to do larger deals. So today I'm doing 20 and $30 million deals, I want to do 5060 $70 million deals are the same two or three because I have the same control. Yep. That's, that's awesome. And you're you're you're Are you? Are you geographically? Do you have any geographic goals? Are you just wanting to stay right there in one spot, sticking with Dallas, and I'm trying to get my properties closer and closer. So the first deal, Cleburne was 6570 minute drive from my house, the deal in Garland I just closed a couple of days ago is a 12 minute drive from my house. So today, I could go to four properties all in the same day quite easily. Awesome. Yeah, that's I think that's, again, that's, that's really big, when you start talking about potential investors and, and somebody thinking, hey, what why should I be in on this deal? Well, because I can put my eyes on it, you know, twice a week, or I can

Unknown Speaker  31:03  
do more than that, less than that, whatever the case is, but But you know, and that's, and that's, again, one of the biggest, one of the biggest, I don't want to say, selling points, because it's not a selling point, necessarily. But one of the biggest reasons to be in this real estate, investing game, game profession, whatever the case, whatever you want to call it, is that there's a physical asset tied to the other end of that money stream, there's, you can physically go out, and I can say, hey, we own shares part of 123 main street, you drive to 123 Main Street, let's go, I'll take you there. And I'll physically show it to you.

Unknown Speaker  31:44  
And again,

Unknown Speaker  31:46  
it just that whole dynamic, and it rather than saying, hey, trust the stock market, trust some CEO somewhere to to make the you know, because they have, obviously they have the relationship with their stockholders to create stockholder wealth, as well. But there again, there's so many different personalities, and then you got boards, and so on, so forth. But this money is tied to a direct asset. So with that being said, let's kind of transition here into what I want you to to pick out one major point that you want to leave the listeners with today about how they can get to where you are today. And what if like imagine yourself five years ago, 10 years ago, whatever the case is, I want you to say what is one thing that they must do or must

Unknown Speaker  32:42  
look for help doing to get to where you are today.

Unknown Speaker  32:46  
My biggest thing, strength is persistence. So if one path doesn't work, I will try another path. So what I say to people is, before you set a goal, like I want to buy 100 doors in 2022, which is a very specific, measurable and quite achievable goal, you'll find it even further. Okay, this is a geographic area, I'm going to do this because I'm going to either join a mentoring program or team up with these two people, this is what I have to bring to a deal, right? This is what I have to offer. This is my strength. And this is what I need from my partners, because your partners need to have complementary strengths than you to cover all bases so that you as a team are complete. If you want to be a general partner. On the same side, if you want to be a limited partner. I mean, it's easy to give your money, but really, you have to do your homework really well. And one thing I can offer your listeners is a checklist that I use to vet a sponsorship team, because there's a lot of people very, very impressive in social media, who absolutely do not have a track record to substantiate their statements. And they're off chasing deals, you look at their activities, and you say okay, so if they're out there in 100 conferences talking all the time, where do they have time to go operating deals and who is the real operator I need to talk to who is going to be the person I call after the deal closes for the next three to five years and you want to speak to those operators who have the experience expertise in that area. So passive investor vet them very carefully, because once your money's gone, it gets tied up for a few years attractive GP, find your strength and go after people who can compliment you to achieve your goal. Surround yourself by experts will Awesome. Well Sandy, thank you so much for being on the podcast with us today. And thank you so much for your time. And I want you to tell the listeners how if they want to reach out to you whether it be to to ask you a question to about investing or even to possibly invest with you. how can listeners reach out to you? My website is the best place to find me and I'm also active on LinkedIn but multifamily for you where it's a multifamily number four y o They can provide their email address and a short message and we can connect from

Unknown Speaker  35:00  
They're and they can also ask me for my passive investor checklist if that's going to help them that a sponsor. Awesome. Now I want to just for purposes of

Unknown Speaker  35:10  
making sure somebody can find you if they choose the LinkedIn Pat, I'm going to spell your name and that's s a n d Hya. And that Sanjaya and then her last name. spell that for me if you don't mind. Yes, he s h ad ROI. And they can find me through my company name which is multifamily for you that's my LinkedIn as well. Family number four y o u is the best way to find me even on LinkedIn. And you mentioned the rebrand so if they go to money, number four, y o Even no matter when they go in the future that that will redirect to where you are today.

Unknown Speaker  35:49  
Awesome multifamily for Thank you so much. Again, from the bottom of our hearts for being on our podcast and cash flow pro listeners. I want to remind you to check us out on Money Talks, Mondays, and F everything Fridays, and everything in between. So again, Sandra, thank you so much, and I hope everybody has a wonderful rest of the day. Thank you. Goodbye.

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Sandhya Seshadri