YOUR DAILY REAL ESTATE INVESTMENT SHOW
June 6, 2022

Real Estate Details You Might Have Missed with Dave Holman

“The built environment accounts for 40% of carbon emissions globally….”   In the 53rd episode of Cash Flow Pro, we talk with Dave Holman, founder of Holman Homes. Dave has been a real estate investor since 2011. He co-owns 94 rental...


 

“The built environment accounts for 40% of carbon emissions globally….”

 

In the 53rd episode of Cash Flow Pro, we talk with Dave Holman, founder of Holman Homes. Dave has been a real estate investor since 2011. He co-owns 94 rental units in Southern Maine. He has successfully grown his business and has had a substantial positive impact on his community. Today, he is here to impart his wisdom on how he did it and his next steps.

 

Holman Homes invest in residential and commercial properties that benefit their residents and investors and their surrounding communities.

 

 

In this episode, we discuss:

  • Accounting – how knowing the basics will help you grow your finances
  • The importance of transparency in syndications and understanding how your investment will be distributed
  • Dissecting a 506-B offering
  • Assisting others to attain the American Dream

 

Tune in to find out more details you should know about real estate!

 

Find your flow,

Casey Brown

 

Resources mentioned in this podcast:

  1. https://www.holmanhomes.com/
  2. https://www.linkedin.com/in/dave-holman-mba-7254a513/#experience
Transcript

Unknown Speaker  0:02  
Hey there, and welcome to today's episode of cash flow Pro, your daily real estate investing podcast and YouTube channel. I hope everybody's having a wonderful day out there today. And today I'm here with Dave Holman of Holman homes. Now, Holman homes in and of itself is one of this gentleman's entities. But he's got such an intriguing story and so many different angles to look at the real estate business in general, from real estate, like being a real estate agent to real estate investing to to basically any type of real estate activity. So Dave, how are you today, sir?

Unknown Speaker  0:42  
Doing great, Casey, how are you?

Unknown Speaker  0:44  
Oh, man, we're blessed and glad to be here and glad to be here with you to talk about what what you've got going on. So, again, we were talking a little bit about, about everything that you kind of are involved in or have been involved in pre show and I'd like for you maybe to, to start at the beginning. Like just tell us where you came from, what, what that looked like what the landscape was when you first decided, hey, I really want to move towards getting in real estate.

Unknown Speaker  1:10  
Absolutely. So born and raised in Maine, rural class, rural, you know, setting town of 3000 people went to public school, they didn't know anything about real estate investing. Growing up. The first inkling I got was I was lucky to go to college at a state, Minnesota, you know, where I learned to speak Minnesotan. And it's a different language. It is yes it is. But have a beautiful culture. And if you feel like hot dishes and you know all things Scandinavian,

Unknown Speaker  1:40  
so I specie and ice fishing or Oh yeah, you betcha. You betcha.

Unknown Speaker  1:46  
I was the only non Minnesotan on the Nordic ski team out there. That was that was good times. And we we studied, I took a class called Building the Eco house, and it taught about green building kind of material science, energy efficiency, you know, and how the built environment, you know, accounts for about 40% of the carbon emissions, you know, globally. And that's, that's huge in real estate. And we have a great opportunity as landlords to not only, you know, do right by mother nature, but to save a lot of money, earn more profits by being efficient with our energy use, which is just good business. So that's what I try to teach, you know, other investors, as well. But I still didn't know anything about investing. I went down to Bolivia for four years, I met my then girlfriend now wife, we got two kids. But at that time, we started a chain of camping stores, and Bolivia, ended up with three stores 10 employees, and I didn't know the first thing about business, portable stents. You know, I had taken one econ class my whole life, and I have this sense that maybe I'm doing it wrong or something. So when we came back to the US, I went to business school, got my MBA, I realized that I was doing fine, I was buying low selling high, that's that's the key, you know, earn more than you spend. That's, that's about all you need to know. But accounting, I didn't know accounting, and that was just an eye opening class and experience that I would encourage everyone to go learn a little bit of it for free online, or, you know, in a formal setting, so helpful to being successful in any kind of business, especially real estate.

Unknown Speaker  3:16  
Yeah, that's exactly right. And you know, and it's an accounting, in my opinion, is the is kind of the nucleus of, of everything else that goes on around you, because it creates, it creates an accountability for, you know, you're not just looking at how much you have, you're looking at what you're spending on each thing. And accounting was very eye opening for me as well. And very and actually pretty, I mean, relatively hard. I mean, when you when you get down to some of the formulas and having to memorize some of that stuff that they use. Tax Accounting was never really difficult. But the accounting process is is pretty, pretty important. Yeah,

Unknown Speaker  3:54  
I describe it as simple math, but very weird rules. And one of the first things if you grow as an investor that I would encourage people to look at is if you don't love bookkeeping, that is a great thing to try to outsource partner with a third party bookkeeper, whether it's virtual or local, I prefer local you know, whenever you can, that can really help propel you forward because it's very time consuming. And you're not profiting by doing it better or worse, or you know, your 10 or 20 hours a month spent on it is not going to earn you more money, it's gonna prevent you maybe from losing money or getting fouled up you know, when tax season comes around, but you know, focus on what you're passionate about if you can,

Unknown Speaker  4:38  
so I want to kind of talk a little bit just real quick. I'd like to maybe go backwards just a hair and talk about that. You said the line of camping was at camping stores. Yes. What was the what was the How did that look from from and what did that How did that spark where you're at today? Yeah,

Unknown Speaker  5:02  
it really was my first serious entrepreneurial adventure and I really was winging it, you know, I had a little bit of savings from a summer job I had, you know, a little bit of extra income, you know, let's call it maybe 10 grand, and I literally just used it all to buy camping gear, rented a store, and, you know, started up with guidebooks and equipment and stuff. And we thought we were going to be a tourist store catering to international backpackers and stuff like we had done traveling through South America. And it turned out, you know, as the years went on, we became a local store, and it was mostly local people, patronizing our store, and it really was something that that people wanted and needed, and I was really fun to grow that business, to hire employees to see them, you know, earning money, finding some success, enjoying what they were doing. And Bolivia in some ways, it's the most, you know, one of the most free countries on earth, because no one pays attention to the rules. And on the other hand, it's one of the less free countries on earth, because if you do pay attention to the rules, they're very cumbersome and difficult and will basically, you know, throttle any small to medium sized business that can't afford, you know, a whole compliance department, you know, kind of dissimilar to here where I think small businesses in the US, I mean, filing an LLC, even in states like California, it's a couple pieces of paper, a small check, and you're off and running. And we we take that for granted. And I used to assume, when I didn't know about business, that Oh, starting a business, that's this, you know, amazing, special thing that only brilliant, you know, rich people can do and totally wrong, anyone can start a business, it's very easy, takes a couple of weeks at most. And boom, you know, you can buy and sell and offer services and get after it. And I encourage everyone to look into that.

Unknown Speaker  6:47  
Now, let's talk real quick. I'd like to get, I'd like to leave all of that stuff up to the real estate investing. How did that start?

Unknown Speaker  6:57  
Yeah, with, with my wife getting pregnant with our first baby, I was working for nonprofit organizations, first, you know, a small nonprofit helping kids in the Guatemala city garbage dump called Safe Passage. And then for Bowdoin College for five years doing fundraising, and it paid the bills, but it wasn't enough to you know, be flexible, take vacations, you know, live the kind of lifestyle and to give back to other people I didn't, you know, the 10 or 20 bucks was a big donation. And I was, but I was earning, you know, 1000s of dollars from rich people. And I was like, hey, that would be kind of cool to be able to really move the needle by giving, you know, to a cause you support. So I decided to learn about real estate investing, I've been a stock investor, you know, since summer jobs and was successful in that, but turning a tiny amount of money to a less tiny amount is not something you can live on. You know, it's random, you can't call up, you know, Tim Cook at Apple and say, hey, you know, I want more profit or do this or that differently. With real estate, you know, if you don't have curb appeal, if the paints peeling, like, oh, my gosh, you can go buy a bucket of paint and change that. So I got into it, I just started learning and learning listening to podcasts, like yours reading books, and then I didn't have any capital. So I kind of pitched you know, family member who had some extra capital and said, hey, I'll go find a good deal. You know, I think it'll be at least a 20%, you know, total annual return, we'll split the equity, I'll do all the work, I'll do all the management, etc, you do all the money, and partner on it. And that went well. And we had trust, it was a good time in the market, obviously. But more than that, I worked hard and and I looked for cash flow and it worked out and that's a model that I then started repeating to the point where I then eventually develop my own capital, I don't have to, you know, be be the, you know, one not putting in any money to deals but that led me pretty quickly from just working with family to oh, there's some friends that want to do the same kind of thing, you know, then there's friends of friends, they're telling their friends and then all of a sudden you develop a network of people that basically trust you know, you can earn some good returns, and they want to, you know, invest with you. So now, a lot of what I'm doing is finding deals that are you know, in that like one to $10 million range and syndicating those. So, you know, letting other people take small ownership slices of a bigger deal where we've got some economies of scale and you know, getting small slices of big pies that's, that's what I'm after.

Unknown Speaker  9:24  
Yeah, and then and again, and when those folks take those what what ultimately to some folks could seem like a small slice, you know, if they invest 4050 $100,000 And then again, that could be money that that they live off of the income you know what I'm saying? So, so again, yeah, those smaller those smaller pieces of a bigger pie now, do you have without getting too far down in the weeds of structures of deals do you have what's Are you pretty much the sponsor the key partner, what what does the so when you bring in invest Here's I'll say you got a $10 million property bringing investors, obviously, you're gonna bring in two or $3 million worth of investments? What? How does the balance of that? Look? Is that is that just you just go to a local bank? Or what is that? Or how does that work?

Unknown Speaker  10:15  
Yeah, great question. So yeah, we would raise 25 ish 30%, you know, the equity, so that we're putting 20% down, and we've got a cash reserve to sleep well, at night, I like to have some reserves. And that's not true of every deal. And especially in this environment, best advice I can give to listeners is have some frickin reserves. Whether it's in the LLC account, or in your own account, I mean, keep some liquidity on hand, because there's going to be, you know, draw downs, whether it's this day or another, you know, you have a capital need. So, you know, in our deals, and this is pretty typical, you know, the sponsor, the general partner, or GP, which is me, and sometimes another person, just depending on the deal, you know, we get some equity in it, you know, usually 20, to 30%, just kind of depending on how rich the deal is, what it can kind of support, and we would, you know, give the other, you know, 70 or 80%, to the investors putting in all the capital, although I'm also contributing Personal Capital along with the investors. So I'm both a general partner and a limited partner, you know, in all my deals that I'm doing now, so, skin in the game is very important.

Unknown Speaker  11:24  
It makes it makes it gives everybody an alignment of interest. And I've talked to some very, very sizable investor investment companies that are that are, that are sponsors, and so on. And they always say they're like, Okay, we, we are in every deal ourself, because it makes the investor say, hey, if this guy's willing to go in, I'm willing to go in with it. And so it's just, it's what it's what we call, especially in the in the MBA world, so I don't have an MBA but but an alignment of interests, and alignment of interests. A lot of people get that misconstrued they, they and that's what turns people off to certain objects when they feel like they're being used, or they feel like you're taking more from them than you're giving. And that's where people get get screwed up or get hurt feelings or get out of deals is because they feel like they're being used. And there's not an alignment of interest, both parties saying, Hey, we're in this equally, let's be in this together.

Unknown Speaker  12:25  
Totally. Yeah, I think you have to watch out in syndications, because there are syndicators that will use it like their personal piggy bank. Yeah, I've certainly seen friends get burned in deals, and then they never want to do it again, because they think the whole category is a scam. Well, that's like, Okay, you you bought a penny stock or a junk bond, it blew up, it went to zero. And now you're never going to invest in stocks again. Well, that might have actually been a terrible decision. If you look at her.

Unknown Speaker  12:53  
Yeah, and say that that was on their part, a terrible decision to do that. And then that burns them for, for whatever. But you know, and I've seen a lot of people that don't really understand options, get into that same category of well, they hear about these companies, and they hear about Steve Jobs at one point getting stock options. Well, there must be money in stock options. Well, there is, but not in the it's complicated. So that's where we see a lot of people get burned, because they go out and do that, which of course, you have to have a certain amount to trade options. But what I'm getting at is it's it can be it can be a very elusive thing to get cat to make money on. So So tell us, where are you at today? What's what's what's brewing in the in the home and homes and the syndication world for you?

Unknown Speaker  13:42  
Yeah, we've got about 200 units, you know, across 30 different structures and mains. So there's a lot of little ones, you know, at the start, we're doing bigger ones, but unit count can be very deceptive, because I am not a purely residential, multifamily investor. You know, we also have large and small offices, we have a couple restaurants, we got some retail spaces. So I'm every single category at the moment, except industrial, and I'm actually going to be building some industrial in the next year or two. So it pretty well diversified. And some of those, you know, one unit of restaurant might provide as much rent as 10 units of residential. So, you know, there's deceptive things in numbers that can, you know, confuse you doing

Unknown Speaker  14:25  
each of those deals separately, or if somebody comes and says, Hey, Dave, I want to invest with you. Do you then diversify their money across the assets? Or do you is it pretty much just withdrawal deal?

Unknown Speaker  14:37  
That's a great question. I've been doing everything as a separate entity, mostly for asset protection purposes. So but there are other people that have a fund, you know, and there's, you know, blind funds and so open ended closed ended, you know, there's, there's a lot of complexity out there and, and that might be a way to get good diversification. If a fund is gonna go out and buy, you know, 10 or 20 different apps assets and you'll kind of own a little slice of each of those. For me, I try to follow the kiss method, which is another NBA term means keep it simple, stupid. So, yes, I recommend it to everyone, I try to follow that. And I think for asset protection, the best thing to do is just, okay, we're buying this, you know, 20 unit building in one LLC with one group of investors. And if something goes wrong with it, you know, it has some big lawsuit or fraud or whatever, yep, the losses are isolated to just that one investment in that one LLC. Whereas if I have an investment company that owns all these different assets all together, and one of them, you know, there was fraud going on. I mean, there are ways that all of those could get, you know, taken down. So there's pros and cons

Unknown Speaker  15:48  
to and that's why it's and then that that's what I've always said to and again, it comes back to that from a different angle and alignment of interests, you know, we, for instance, we run a fund of funds, okay? So it would be it would be negligible for me or not negligible. But it would be not correct for me to go to someone and say, Hey, do you want to invest in this property? And then have them invest in my fund, and then my fund goes and invests in that property, because they may not understand that they're also that that's also spread across. So yeah, when you when you and that's the biggie, and that's where I think a lot of people get confused is okay, how am I investing? Am I going to be an owner of that specific asset that I can go look at touch, feel, see, talk about, get an accounting sheet on that asset, or if I in turn, sell it as, hey, this is a diversified portfolio that does own these individual properties. However, if this one over here costs us money, it's going to, you know, it's going to decrease the take in of the whole, the whole gamut of them. So that's so yeah, the alignment of interest and making sure that you understand what you're investing in is very crucial. I mean, and I think a lot of people get confused at that.

Unknown Speaker  17:10  
Yeah, they're, I think they're both good models. And they're different than good. And there's good syndicators doing both, you know, funds and individual, you know, and entity and asset syndications. And I do think it is trending in that fun direction. You know, now that Dodd Frank has kind of opened up a lot of crowdfunding, you know, options, but it's one of those, like, read the fine print things, because, you know, I studied micro lending back when that was first taken off in the early 2000s. And what they didn't tell you is like, you think you're loaning money to one little entrepreneur, and, you know, wherever it is, when in reality, if you read the fine print, you're just putting money in their general fund, and they're just shotgunning it out to different banks, and one of those banks gave a loan to that person a year ago, and they were used for marketing. I mean, that's really how it works. So you know, I think the biggest thing when you're investing is know this know, the sponsor, know, the syndicator, do your due diligence on them as a person, because you know, when the you know, what hits the fan, you know, it's that person's integrity, resourcefulness and reputation, that are going to make or break, you know, the investment. It's not the asset. It's not the management company, it's really, you know, where does the buck stop? And is that person going to do whatever it takes to make things right?

Unknown Speaker  18:25  
Yeah. And it's, you know, it comes back, it comes back to a term that I couldn't even tell you the first time I heard it, I was young, young, young, young, like kid like a child. And it was read the fine print. And although that even that sentence can be somewhat deceiving, because sometimes the fine print is so confusing that we're just like, you know, to hell with it. So what what I really want to get across here, with just you and you and I talking is how do you? Do you have to go back, like, if you bring in a new investor, how do you explain to them exactly like, Hey, we are in this specific asset. And then how does that how does that kind of come across?

Unknown Speaker  19:14  
Yeah, great question. You know, anytime I need to have a relationship with an investor before they can invest in one of my syndications, just by the SEC rules, so we need so

Unknown Speaker  19:23  
you're running on a 506 b, right? Correct. Okay, so all of them 506 B.

Unknown Speaker  19:29  
They are? Well, the syndications are I mean, I've done some smaller partnerships that are just simple LLC, but all these indications are 506 B. And the reason I do that, for me is because it's more democratic than only working with accredited investors, aka rich people. So I like the 506 B because it lets me take up to I think it's 43 non accredited investors aka normal people. And so

Unknown Speaker  19:58  
that's per deal.

Unknown Speaker  19:59  
Per Do ya per syndication. And so I started as a non accredited person without a lot of wealth and funds and, and my gosh, this private equity thing, this real estate investing thing really transformed my financial future. It was amazing for me. And it's something that, that you're not allowed to do you know, if you're not accredited, or you're, you know, you're not part of our golf club, you can't come are in these great you know, and I just don't like that mentality at all. I think that, look, as long as this country is going to allow, you know, Vegas and payday lending, we should allow people to invest in real estate, I mean, no matter whether they're accredited or not, I mean, that yeah, because I mean, spot, preach. Preach it, it's, so that's why I do the 506 B's so I can let in, you know, the people, I literally have people who invest 1000 bucks in some of my deals. And you know, from a financial point of view, that's crazy. That's dumb, I'm trying to fill up a swimming pool with a little eyedropper. But, you know, I'm still getting the six figure investors alongside them. And I'm willing to tolerate and take along the one in 5000, folks, because that's what I was. And I know, like, they might be in their 20s or 30s, they might be earning six or seven or eight figures down the line, you know, when they get their degree or they do whatever.

Unknown Speaker  21:21  
Maybe one question that one question that always pops up when the word when the when the 506 B is mentioned. And I had this question, and I'm not a 506. B guide. So I know what it is. I know how it works. I know what the requirements are. I know all of that. But the the intricacies such as when somebody, I guess what I'm getting at is is how is that relationship defined? Is that like, if somebody opts into my email address, and they receive, let's just say they receive the updated podcasts, and they've been following me for a while, and I've had their email address, and I've sent them some one off emails about, you know, we're our fund or whatever, would they then qualify for a 506? B? Or if the if they would, how long is that relationship have to be existing?

Unknown Speaker  22:15  
That's a great question. And I'll start with the disclaimer that this is not legal advice, and you should consult with an SEC attorney who will probably talk to you for free in mind. Did you know Mauricio wrote, you know, years ago, so that's the first thing is check, you know, with a professional, what I would say what I know is that, you know, I need to have a real pre existing relationship, you know, that person before I let them put their money in my deal. And I check that box, I feel that, you know, within an hour or half hour, you know, zoom or

Unknown Speaker  22:46  
focus and make sure they're not going to be a damn hassle to I mean, you know, if

Unknown Speaker  22:52  
I don't I have wealthy people that are not going on the list because they're a headache. And, you know, I like I don't need it. You know, I'd much rather work with nice, happy people that they asked good questions, and I have no problem educating and, you know, answering good questions, but

Unknown Speaker  23:08  
we've enough headaches on the asset sides of these deals,

Unknown Speaker  23:11  
right? I don't want investors who are gonna be breathing down my neck and getting kind of confrontational when there's no reason to because we're all earning money and things are going well. I mean, I don't mind if they get mad if I'm screwing up, and, you know, they're things are not going well. But, you know, luckily knocking on wood that that has not happened. But yeah, I think it is important, you know, because when you take an investor in an LLC that might exist for 510 20 years, it's like a little marriage, and you should know everything and don't don't take, you know, unsavory people with cash from unsavory sources, or people who are just going to be a squeaky wheel in your life all the time. You know, necessarily, you want to think that through carefully.

Unknown Speaker  23:54  
Yes, absolutely. And that's that the squeaky wheel theory is is one of the ones that just absolutely drives me bonkers when I get a squeaky wheel especially. And I guess sometimes I call it the Walmart mentality where you show up to the customer service desk, and no matter what your problem is, they are going to take care of it. And I'm sorry, but in the investment world, there's just it's difficult to do so it's difficult. You want to be customer relations, you want to deal with people you want to talk to you want to make sure they're happy but there are some people in this world that were just purely born unhappy and there's nothing you are going to be able to do to change it.

Unknown Speaker  24:33  
For sure. For sure.

Unknown Speaker  24:34  
Yeah. And um, gold bars and they would they would say well, they want to gold triangles. You know, it just say but it's just that's just the way it is. So, alright, so let's move on to move this forward. Real quick. I want to cover a couple extra I want to couple of little, I want to cover a couple additional topics with you. And number one, I want you to when you filled out the form to be on the show. There was there was one thing It really caught my eye that I want to get just a little bit of information on because especially if if there's a way for people to help in any kind of way, I don't know what there is, but you said settling refugees was the one of the topics that you wanted to discuss. Now, I guess I'm just going to kind of say, here's the mike day, tell us tell us? What is that mean? What is it? If you know, and if you want people involved? How does that look where we go from here?

Unknown Speaker  25:29  
Absolutely. So, you know, I would say about, you know, five to 10% of our residents in the residential units are refugees that came to this country, you know, with nothing or a backpack of stuff. They were fleeing, you know, war or famine, you know, terrible things in their own country. And, you know, America is the land of opportunity. You know, I have, you know, family that came through Ellis Island, you know, unless you're part are fully Native American, you know, you came here and got some help, you know, when you arrived, it was important. So, I believe in that kind of American dream and housing, you know, shelter is the most one of the most important pieces of that equation. So refugees are often in homeless shelters are temporary shelters, you know, in cities and towns across the US. And local governments are often the ones dealing with them or nonprofit organizations. And lo and behold, you know, when I reached out because I had a vacancy, and there was a big refugee influx to Portland, Maine, I learned that the government was actually willing to pay their security deposit and some of their rent until they got their work permits. Behold, you know, I was this wasn't charity, I was getting paid rent, to take, you know, these folks out of a homeless shelter. This was a family from Rwanda. But we've worked with, you know, Angola, we're getting a lot now from Afghanistan, you know, who served with the US armed forces and had to flee the Taliban. And we are getting paid, you know, by local governments or by nonprofit entities to give them housing, and then when they get their green cards, their work permits, I mean, they go out and they get two or three jobs each. And they're paying market rent. And there's some of the best tenants we've had. And actually, the one of the most gratifying things is this weekend, we have a showing for one of my first Rwandan families that we took two years ago, who is pre qualified for a big loan to go buy a multifamily building of their own because they have worked so hard that a bank, a legitimate bank looks at their, you know, two years of tax history and says yep, yep, your your credit worthy guys, you're doing everything right. So that's rewarding to see, you know, I'm always happy to lose a tenant when they buy a home. And I think that's great. I'll let them out of a lease early. You know, it's, it's a good, it's a win win. Because almost anyone in this environment, if they've been with you for a while they're their rents probably a little under market. So if they leave, it's an opportunity to maybe bring it up to market. So for everybody,

Unknown Speaker  27:49  
I mean, yeah, especially if they're pre qualified for for ability to what, uh, what is great, successful story. That is, I mean, and there's, there's, there's just not enough of that good. Just good hearted American, hey, welcome, here. Let's make your life better today than it was yesterday. And that's, that's excellent. And I like the fact that you don't that you don't necessarily treat it like a complete charity, cause like, you're just you're giving grants and so on. I mean, you're telling us just exactly how it is, you know, the government pays it, but we're letting them move in there. The the highest credit risk, I guess, tenants as far as after the government gets done paying. But yeah, so that was a wonderful part of part of your business. And I'm glad that you're involved in that now did that. So does any of that kind of feed back to where you all were when you met your wife and down in there? Like, like, did any of that start back then? Or is this something you just kind of found out recently,

Unknown Speaker  28:50  
it's interesting, we've we've we've got tenants who are from, you know, Latin America, and none of them have actually come to us kind of as, you know, refugees or asylum seekers per se, but the connections I have made with Latin America, as I'm fluent in Spanish, is the is contractors. You know, I have this like, secret weapon in my tool belt, where because up here in Maine, there's just this huge shortage of contractors, but I'm pretty well networked in the Latino community here. And I've got painters and drywallers and carpenters, and, you know, bricklayers and guys that I can just call up and text and they'll be there in an instant. And it's like a secret, you know, superpower. You know. It's hard to get constant. I

Unknown Speaker  29:33  
mean, I'm in the same situation here. Same exact situation.

Unknown Speaker  29:38  
Excellent, you know, so, but yeah, I think the overall idea of, you know, going to other countries, seeing how hard life can be there, you know, seeing children on the streets, you know, malnourished for just lack of food. I mean, that that is something that few Americans hopefully know personally and when you do it, it really motivates you to Want to help and do something but to me, help has to be sustainable. And sometimes pure charity is not sustainable in the way that a business is replicable sustainable, you know, that's a wheel that can keep turning. And that's the way that we're trying to serve some of this population. And I'm not my goal is not to make 100% of my units, refugees or section eight or anything of that nature, I think it's good to kind of mix different groups together so that if any one group is having big issues, you're not 100% vacant or, you know, economically or physically. So,

Unknown Speaker  30:33  
again, it's diversifying across, you know, diversifying across tenants, I guess, if you will, or, or tenants, or whatever. Yeah. Go ahead. We're, we're kind of running out of time here. So I wanted to there's a couple of questions that we ask every guest that comes on, and there's there's no right or wrong answer. But what so I'm gonna, I'm gonna hit it. I'm gonna hit you with it, though. And it's gonna be Think fast. So what is the best book that you have recently read or currently reading doesn't have to be business related, just anything that you feel like helped you become a better, whatever?

Unknown Speaker  31:12  
Sure. Recently, I'll just throw a random one out there for people only vaguely relates to real estate. It's called Winter is coming. It's by Gary Kasparov, who is the chess champion for many years kind of a Russian dissident. But he predicted this entire Russian war, I mean, word for word page for page back in 2016, when he published this book, and it is, and he's a genius. It's a very interesting read. And I think there are lessons from his strategy, his way of thinking that apply to business apply to real estate. So that's just what I'm reading now that that came to mind.

Unknown Speaker  31:46  
Winter is coming. Awesome. That's great. All right. What is the best trip vacation? Or? I guess maybe the best trip or vacation you've taken recently, or hoped to take in the near future?

Unknown Speaker  32:01  
That's a cool question. I haven't been asked that one. Our family went to Italy, right before COVID in November of 2019, when actually it was there, unbeknownst to everyone, but and we have a friend from Italy that we had met down in Bolivia. And so we traveled with with him and it's just so fun, to go to a place and have a friend who's a local and go with them. It's just a totally different experience. You know, to have that kind of cultural language insight into it. And Italy's just a special special place. Yeah,

Unknown Speaker  32:33  
they did definitely, as my wife and I were there about two months ago. So very, very interesting. Very culture thick. I loved it every second. So anyway, Dave, I want you to tell the listeners how they can reach out to you if they've heard something they want to connect with you on. Maybe they want to help in some kind of way with with the causes that maybe you have going on. Or even if they want to possibly invest or talk to you about investing. How can they reach out to you?

Unknown Speaker  33:01  
Yeah, thanks, Casey. They can give me a call on my personal cell phone which I'm happy to give out and it's 207-517-5700 but don't worry because no one is ever brave enough to call so it's not ringing off that should send a text they'll take well yeah, right text me is fine. Two way that most people find me though is through my website, Holman homes, there's the contact link there for all the millennials and Gen Z's that are you know, afraid of the phone. You can. You can get me there.

Unknown Speaker  33:27  
Check that out. They thank you so much for your time, and thanks for sharing your story with us and I hope everybody has a wonderful rest of the day. Thanks again.

Unknown Speaker  33:36  
Thank you, Casey. Yes, sir.

Transcribed by https://otter.ai

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Dave Holman

Holman Homes