Have you ever been part of a team that just didn’t function? Whether it’s half-hearted members of a group project or partners in an investment, most of us have the experience of putting out fires for others. When money is on the table, the...
Have you ever been part of a team that just didn’t function?
Whether it’s half-hearted members of a group project or partners in an investment, most of us have the experience of putting out fires for others. When money is on the table, the stakes get that much higher.
This is why the best investment strategies utilize effective teamwork to get the job done. Whatever that looks like for your circumstances, from good communication to solid delegation, will surely grow your potential for success.
Today’s latest Cash Flow Pro episode brings on real estate entrepreneur, Erik Nelson, to discuss this very topic. Erik is the founder and CEO of Wild Oak Capital, a multifamily syndication firm that takes pride in its emphasis on collaboration involving trusted and competent partners. You wouldn’t want your hard-earned money being with anyone but!
In this episode, we discuss:
If you’re looking to learn if multifamily is the right asset class for you and how the dynamic of a good team can make or break any investment, then Erik may just have the advice you’ve been waiting to hear.
Find your flow,
Resources mentioned in this podcast:
Casey Brown 0:00
Have you used Riverside to use Riverside? No. That's okay. All right. Well, I have to stay on till this is uploaded completed the top. Hi, and welcome to the cash flow pro podcast. I'm your host, your host, Casey Brown, and I am here today with Eric Nelson of the real estate mindset show and also the CEO and founder of wild Oh, capital in what part of Colorado was it again?
Unknown Speaker 0:27
I'm in Durango. But yeah, my partners are all over. So we're
Casey Brown 0:31
good deal. Well, welcome, Eric. How are you today?
Unknown Speaker 0:33
Doing great, Casey, my, my pleasure, my honor to be on here. So awesome.
Casey Brown 0:37
And we're we're so glad to have you and we're glad to kind of dig into to your real estate syndication journey and possibly just kind of give give the listeners some points and maybe some, some some spots where they can educate themselves and and then we'll move into to where you are today and where you're headed. So tell us how you got started. What was what was the everybody kind of has a big aha moment when it comes to real estate syndication or it seems that way anyway, like, everybody's like, Well, hey, man, this, this really works. So tell us what got you started where you were what happened? And we'll go from there.
Unknown Speaker 1:12
Cool. So I, you know, I kind of fell into real estate in general on accident. So we I was in college. And this is like 2006, right? And so I, I was like I'm tired of paying rent. I make Okay, money is like this intern for an engineering company. And so my brother, I was like, man, we should buy a house and rent the rooms to our friends. Like, yeah, I didn't know a house hacking wasn't anyone any of that was right. So we did and it truthfully, like, we had no business getting alone, like, but luckily back then, you know, the lending lending world was pretty easy. So we got a loan, got a house did just that. We like how sack door friends and we fix it up. So that's kind of like my intro to it. Which again, was sort of by accident. Yeah, sort of fast forward. A few years later, my wife and I had bounced around traveled lot, landed back where we wanted to raise some kids. And so we bought a house. And we had a little extra money sort of building up, you know, and, and I saw some houses come on the market that I thought, Okay, well, we can we can cover the mortgage with the rent. Like, that's kind of where my mind was, you know, like, I didn't know there was more to it. So we started doing that. And then, you know, I got a couple really cool like owner finance deals. And I can talk more about that if you want but a couple of small Maltese. And then, you know, I went to a meet up, and my current coach was actually hosting the meetup, which I host now since he moved, but yeah, anyway, so he was kind of like, Hey, man, you're you have this limiting belief. It was learning mindset, like, you can go bigger, farther, faster if you willing to partner with people. And that was kind of the aha moment was like, Oh, okay. And so, we started with a couple joint ventures, where we would do the work and some people would bring some capital and that kinda like, opened my mind. Okay, this, this does work. And then more like, bigger than that. It's like, let's start doing syndication. Let's start thinking about, you know, to scale. You know, it was like, a six Plex, honestly, is a lot. similar amount of work as a at Plex. Oh, yeah. That was like, Oh, cool. Like, we can do a lot of these processes. We've set up a lot of these systems and like, just go bigger to scale. And then start building your network and talking to people about it. That way, you can raise capital. So that was kind of the super fast version of, of where I was from, and then the what pushed me what I'm doing now.
Casey Brown 3:32
Sure, man, I love the I love the house hacking in college. And I'll tell you, the first time I ever really realized I was I was graduated, and I had the fraternity had house hacked me. So we were, we were living in there, and I was paying rent. Anyway. But you know, the first time I'd ever heard of it, I had a friend of mine who's who went to a different school and a completely different place. And he was like, Yeah, where there was there, he had four or five brothers and sisters. And of course, they all went to the same college. And so his parents go there and they just buy a house, they buy a house, like five years for the first kid ever goes there and they just rent it out. Well, then by the time, by the time the first kid went school, then they were able to do the house hacking, like, like one for the daughter moved in. Right. And then there was three other bedrooms. And so the daughter, of course, has friends that want to live off campus and whatnot. And so, so they house hacked this thing, and I'm just like, I just My mind was absolutely blown. And, and then at the end of the day, you know, they they had they had made enough appreciation on the house, of course to to cut into some of those education expenses. But But man, it's, that's, I love that story. So anyway, sorry. So so now we're, we're, we're at our aha moment. And and you've you've kind of dabbled just a little bit here and there and, and so sort of carry us forward. Let's see where this is going.
Unknown Speaker 4:56
Yeah, so let me actually talk about that six Plex real quick. So what I what I was doing was like, my son was he's four now. So like he was a baby at the time. Yeah. I would push them around the neighborhood. And I live like downtown, which I use loosely because it's a small town, but like, yeah, during. So we drive around, like walk around for hours because he liked being outside. I do too. And I would cruise around, I'd see for rent signs. And I would call and just say, Hey, I see you have a friend sign. Listen, I'm not interested in rent, but I'm interested to buy like, Would you consider selling? Yeah. And it was sweet. Because like, I got to know the market really well, I got to know who more or less owns some houses, because you know, a lot of people here in town. And then one time, I came across this like multiplex thing, it was like kind of this weird, like multiple unit, obviously. And this gentleman is putting a sign out front. And it was a friend sign. And the rent he was asking was way low, like way low for the market. So I didn't I didn't say anything. I was like, hello, you know, struck up a conversation. Yeah, got to talk in and I was like, Hey, listen, I'm actually looking to buy Would you consider selling? And he was like, yeah, maybe like, he's like, the first time he'd ever like someone asked him. Yeah. And so I was like, Okay, well, you know, let me know, you know, let me know what you want for it. And what do you think it's worth and blah, blah. And he's like, Okay, I'll have to talk to my wife. So I was like, man, no, no pressure, no rush. No worries. Here's my number. So a couple days later, he calls me. He's like, Hey, I thought about it. And yeah, we would sell but we would need quite a bit for it. Yeah. Okay. Well, you know, what are you thinking? It's a quite need a million dollars. And to him like, that was this monster number? That's a big number to me, too. Yeah, like, anyone's million dollars a huge number. But in our market for six units, it's actually a really good deal. Like our market sort of mirrors California a little bit. So I was like, okay, in my mind immediately, I'm like, Yeah, I'm super interested. But, you know, we don't have 20,000 or 20% down should be like 100 grand. So like, Okay, have you ever thought about like, financing the property? And again, he's like, Well, maybe, but what does that mean? Yeah, it doesn't look like so I was like, Okay, I kind of educated a little bit. I was like, here's what it would look like for you. And here's the benefits for you, you know, worst case scenario, you get your house back, chances are put some money in it. You know, you tax deferred, like all the stuff for a seller, it's actually a good thing too. So trying to like, semi sell him on that as well. He's like, Okay, well, again, let me talk to my wife. I was like, No Sweat, man, call me back. A couple days later, he calls me back. And he's like, okay, cool. Yeah, we could do that. So then I laid out the terms that would work for me, and I said, we need to put $35,000 down, which is three and a half percent. And he's like, okay, you know, that's it. Okay. Well, let's, let's make the amortization really long, too. So we did a 40 year amortization, three and a half percent down. He's like, sweet, let's do it.
Casey Brown 7:49
And he's, you know, he probably Yeah, I'd say the payment. I mean, it. I'm just, I'm hoping that the payment was relatively recent, you know, what
Unknown Speaker 7:58
it was about what he was making? And so like, from his perspective, because his rents were so low for the market. That was my major pitch was like, Look, you're gonna make almost as much as you're making, but you don't do anything. You're gonna get a check. Every month, you're out my toilet. Yeah, exactly. So for me, I was like, Man, this is sweet. Because I know, the rents are low. Plus, there was a down unit, there's a unit like filled with stuff they weren't reading. So like immediately, I could get one online enrolling, so that's what happened. We bought it owner finance deal, a six Plex. And so that was that was like a huge, like, mind shift, as well as like, yeah, creative in this business. And make some stuff happen. Yeah, have to man and yeah. So you know. So that's, that's kind of a lesson learned. And then to answer your question, where we're going now, so we've syndicated three deals now. And we're, you know, we're on a pretty good trajectory moving forward. And so we're just going to continue buying multifamily properties. We, we look, mostly in Oklahoma, and Texas. Yeah, you know, it's competitive right now. But again, you know, the more you're doing, the more brokers are taking you seriously, we've closed a few, you know, building relationships and stuff. So we're kind of on this, we're headed off, headed off,
Casey Brown 9:09
you know, I had a had somebody on the podcast, not long ago, and they were talking about just even if even if a broker calls you about a property that maybe it's the timings wrong or you're not interested in that area, or some like that, but but they cover an area you are interested in, you know, just just go look, go show interest so that they can you know, seeing you in the flesh, like tells that broker that hey, man, this guy's serious you know, he either drove up here from there or whatever the case is and and you know, it brings you back to those relationships and nurturing those and, and so many people get focused on scale. That's that's a word I that's like that's like the word of the century for the syndication world of scale. Everybody wants to scale everybody wants to scale and do this at scale and that scale, but nobody wants to. Nobody wants to stop RSA. Nobody wants to this successful people. Stop it. Let's say hey, I'm gonna nurture this relationship in that relationship, and then I'll start duplicating that. So, so yeah, man, that's great. I mean, just just go but but I love that six flex story, I mean, that everything from the house hacking to the six Plex, you know, the creative financing that's, that's something that, that, you know, you really you really can't like duplicating that or coming up with with with terms that are but but there's so many people out there who are holding on to property because they're scared they're gonna have to pay a bunch of taxes. Okay, that's that's the biggie taxes, I just assume have it and it lose money as I would give the money to the government. And that's and that's that's where the of course then step in 1031 exchanges for somebody that's probably not a retirement age or somebody that's probably not of downsizing or just kind of quietly moving out of business or, or another, but the same thing is just hold so true, that that, that people just don't want to pay taxes, so they hang on to these properties. So basically, again, getting out there getting in front of somebody is what landed you that deal. And I'm sure that that deal was a huge springboard for, for moving forward. I mean, especially if the rents were low. And he could make the same of me that we can, we can start to see that margin rise. And I'm sure that like you said you had a down unit. So get somebody in there and then all sudden now you're now you're really starting to kind of chip away at making something. And not only that, but giving you a solid base for moving forward. I guess really? And then yeah, no,
Unknown Speaker 11:39
I mean, there's so much in there that you said it's so true, man. Like first of all, relationships are number one. Like our motto is people first in every regard, like absolutely went to our tenants. Well, we want our properties look nice. Like it's all about people. Yep. But like there's an example is like I'm flying to Tulsa two days from now. Yeah, and I'm looking at a property specifically, but I jammed my trip full of meetings with brokers. And I'm even looking at properties with them that I have no interest in. Yeah, like I know, I'm not interested but I want to, I want to like meet you. I want to talk with you. I want to walk it talk tell you why I'm not interested. Like, buy someone a copy. You know, like, it's huge broker relationships, huge.
Casey Brown 12:18
Names. I mean, just Yeah, exactly what they do for a living Do they like to walk and be outside like you? And that's it's the part of business that so many people miss man, I'm telling you. So 100%
Unknown Speaker 12:31
Yeah, if you're gonna scale, like you said the buzzword. Start with people start with relationships, and it'll get you where you're going. And then you're right, like so that deal. You know, like the the rental property I bought before that we paid 300 grand for. And it was a huge number, right? Like, yeah, number and then yeah, to jump from there to a million I was like, losing sleep, like what am I doing? You know, you're but but yeah, like, gave me the confidence sort of prove the concept like, okay, yeah, we can raise rents organically to like, we, we don't, we're not gonna kick people out. You know, it's all about people once the lease is up, say, Okay, here's where market rent is, here's what we're gonna do to your property. If you want to stick around and make a little nicer to make it worth that rent, you know, or if you got to move on the sweat, because sometimes a lot of renters they just move on because they're naturally headed somewhere else. Right, right. There you go. You get lease ups. It's it seems like you're being this mean landlord, but usually you're not kicking people out? Usually you're they're improving their place. Or they're moving on naturally. That's right.
Casey Brown 13:28
You're moving up into the same world that you did, I mean, exactly. Oh, sure. For wherever, but so you know, the the benefits of those relationships, and just just getting out and learning. And of course, you know, the other buzzword that's really big in this business right now is mentor. There's so many people out there, and I was one of them, who didn't. And again, I've said this 1000 times on my podcast and everywhere else, I'm not trying to sell a mentorship program, not even an affiliate of a mentorship program. I'm just a proponent of saying build relationships. Get a mentor, if you ever want to scale and so those those three things go together so tight and and again. Sometimes people can mentor themselves did you did you have a mentor Eric? Or do you not not to mention any names or anything but did you have one that you looked up to or got information from or were you pretty much just a self study here and just just learned it and got things done?
Unknown Speaker 14:36
A little bit of both right? So I I do have a coach and he's like my mentor and my friend and he's amazing, right? So he was like super helpful and pushing me he was more of like a mindset coach really more than anything is kind of like think bigger. How can you how can you like do what you're saying instead of saying like, I can't question is how can I you know, and that that sounds so sad. but it's so true. It's like if you're out there and yeah, it's like, you know, don't say, you can't it's basically figure out how to hit me. Right? Yeah. So I did have like a pay. And he's like a paid mentorship coaching program. Yeah. And I think it was worth every penny, he's still my coach this day like, sure, I think it's worth so much. So there's a lot of programs out there. And I think what's valuable to say is like, find the right program for you, because some of them are super expensive. And again, it's an investment in yourself. But, but what I always say is, you're only going to get out what you put in. That's like, if you if you're going to spend 20, grand, or sometimes more on these programs, they're usually worth it. As long as you understand the effort comes from you. It's not like train you deals, they're gonna give you the roadmap, and they're gonna help you but like, it's just, it's effort. So I've seen a lot of folks like have programs, and just unwilling basically to take the action or maybe just get tired and quit. Yep. So it's not like a guaranteed thing, but I think it's super valuable. If you're willing to put in the effort and time then Yeah, absolutely.
Casey Brown 16:03
Yeah, the focus, the focus that comes along with it. And, and, again, the people that get so people get disappointed with mentors, because, well, he didn't help me at all, or whatever, he didn't give me a deal. Or he didn't this, that or the other. And it's just, you know, it's just one of those deals where you really just need to take the take the road, or the path of least resistance is typically through somebody that's been where you want to go, or that that's been you enter now where you want to go. So will tell us let's let's kind of transition here a little bit into wildoe. Capital, and what what types of deals what you we were talking about a deal you had in Texas, I think before before we started, you know, and again, you're Trent you're you're scaling out now, I do want to come back real quick. Because so many people are where you are right now. And you are still working another job outside of syndication, which is very typical of, of pretty much everybody because it's like I said, when, you know, prior to real estate, I mean, you know, I still had hungry kids. Okay, I mean, I still bread still had to go on the table, whether I wanted to be a huge podcaster author, whatever the case is, they still needed to eat so so while coupling all of that stuff together, and and and saying, Hey, man, we're out shopping for deals. I mean, dude, you can't the hours involved in all of that is got to be just just big time commitment, but a lot of fun as well. So So let's transition into what brought you here where you are. I'm not to work brought you here. But let's transition from here going forward and looking at deals and so on.
Unknown Speaker 17:54
Yeah, I mean, first let's let's kind of come back to like, what you said is, it is a sacrifice, right? So like, I have two young boys, they're, they're foreign to now. And I spend my day doing engineering, right? Getting in early mornings and evenings. I have a podcast of my own. And yeah, we're doing broker calls at lunch. And, you know, like, trying to fill that stuff in. And so my wife picks up the slack with our kids a lot. And she's amazing. First of all, I think probably like, one thing I would give as a tip is be very clear with your spouse, you know, this is what I'm doing this where I'm going. And early on. I think she was just like, okay, cool. We're gonna like be smart real estate. But then I, I had to be really clear, like, no, no, my wife's name Maria. I was like, Marie, we're gonna like buy a lot of real estate. And we're gonna be syndicators. And we're in charge of operating these deals and, and even though my work life will eventually translate to do that full time, just like you said, I had to put food on the table and still do. Sure. As a syndicator. Typically, you're not making a lot of money until the deals close. In fact, sometimes you make almost none along the way. And so you still have to put food on the table for quite a while until you get enough, you know, traction to get going. So, so where I am now. Yeah, I mean, that's still what I'm doing. Like most of the days spent in engineering, and then this sort of, quote, unquote, side hustle. It's pretty exciting. And yeah, I really enjoy it. But I also have to be, you have a responsibility to do my Sure. Moving forward. Yeah, I think you know, can you do that? The other thing I'll say is like, I'm not rushing out the door. I think a lot of people hate their W two, or they're like, I just can't wait to move on. Yeah, I still like my day job a lot. I still like my business partner. He's a great dude, I just have no like, interest really rush out there. So I kind of see it actually is more like phasing out a little bit, you know, probably step down like 30 hours a week engineering, then 20 Then maybe like kind of phase out the door. And so I'm a little bit of unique position in that sense. And then super blessed to say that we probably just kind of like have to bring in less money from the day job, only take on jobs, I want to do stuff like that. So moving for that. is probably what will look like. And yeah, we're scaling. I mean, we've closed a couple deals now. They're they're doing really well. And truthfully, it's some luck to the market. Because the exploding. And so we got one in Tulsa that we love are, we really love the deal, we have one in San Antonio, same story love the deal, and it's just you know, rents are going crazy. So we're really blessed that it's doing well and part of it is some luck.
Casey Brown 20:23
Cool. So let's these of course, you named a couple of different locations. And obviously there's they're probably different brokers involved in in either one of them. But in I'm assuming that were those built off of the same relationships, like you said, you fall somewhere and you you went and filled your calendar with brokers and then you know, you go look at something that they may have available or whatnot. And then also were the properties. You know, we keep talking about buzzwords in this in this episode, the other buzzword is off market, everybody wants something off market off market or absent owner or whatever the case is because they just think that somebody is either tired of it, they inherited it, don't want it, so on and so forth. But tell us so so like, let's for instance, let's chat, bro, just the San Antonio deal. What led you what was the broker relationship? Like? And how did that? How did that get to where it is now?
Unknown Speaker 21:18
Yeah, so first of all, wildoe capital's kind of become for people now. So early on, I was myself kind of just doing it right, I partner with a guy who had his own company too. And then pretty soon we had enough to do or need more people. So to represent Antonio deal specifically, it was pretty cool. My partner Shane was working on an on market property. And we were putting in an offer. And, you know, our offer was too low. And so it was kind of okay, no sweat, you know, let us let us know other ones. He's like, Well, I have this other one, as well. And that's kind of how it went was like it was it was off market. But it was truly through an on market broker relationship. And I think that happens quite a bit actually. Like, you can put in enough loi as you get in that you get serious enough, they take you seriously enough, pretty soon they go you know what actually got this one coming on. And they'll tip you off on a deal before hits market. And I think that happens significantly. Like we've recently tried to do, like a text campaign for off market deals. And is pretty unsuccessful, because, you know, the broker situation is built such that at least in multifamily that they kind of hold the cards, and I don't sure it is, but it is what it is right. You got to kind of play that game. And so that deal was pretty cool. So we found it off market, but 100% based on relationship, and yep, reasoning was we were putting in offers on deals, even if they didn't work. So here's like another tip is when every time basically almost every deal we look at, we provide feedback. So the broker sends us a deal. We might even say, Look, we're way off. And here's why. You know, they asked 20 million, we're at 14, you know, we got investors answer to we don't see how it works any more than that, you know, no, no offense, there may be Briar out there for you. That's not us. And then sometimes the broker will say, Well, can you submit an LOI at that number? Sure. Yeah, we know, we're not going to get it. They know we're not going to get it. But he's actually showing his seller, hey, look, I've got a bunch of otherwise, maybe your price is a little high. And here's an example of why you're kind of scratching their back in that way to like,
Casey Brown 23:21
you know, and all that math is done, everybody, that's everybody that's submitting an LOI is doing the same math with the same numbers that you have. It doesn't they're not, they're not shaving the sides of a square peg to put it in a round hole because it's just not there. Now maybe they have a different vision, or a different end goal, or a different
Unknown Speaker 23:42
or investor base. Yeah.
Casey Brown 23:44
It's like, yeah, or they have the other the other famous example of overpaying for properties is 1031 money. The average individual with no, with no, I don't want to say coaching, but with no professional help. panics. When they get to 31 money, they panic, they just that they absolutely, I got it, and they just got they just go crazy. They gotta go find something as quick as they can get their hands on it, no matter what it cost. And I've seen that more in farmland probably they don't have anything, you know, farmland transfers into retail land or retail line or, you know, whatever the case is, and they There's big money involved. And they go out and they increase the the basis of land prices because they couldn't wait or shop or do anything like that, because they had to spend it the first day. So it's the it's the it's the equivalent of the six year old me my mother telling me the money my pocket, my pocket money is burned a hole in my pocket.
Unknown Speaker 24:41
They think they have 45 days identify and it's not very long,
Casey Brown 24:44
you know, it's not that, you know, it's not it's definitely not used to just run out and weigh over pay for birthday parties agreement, but I guess you know, whatever, whatever. But obviously they've they've likely made more money in that one transaction than most people see in a lifetime. So again, they've done something right. So we'll just wouldn't leave it at that. But, but yeah, so so so that relationship and you know, another thing this is, this is a huge tidbit right here, that I'll drop in, you, when somebody closes on a piece of property, like especially, I would say college towns are maybe more infamous for this, but, but what somebody closes, like, let's say you bought 200 unit complex on some some area in San Antonio. And as, as the buyer or as the syndicator, or whatever the case is, the GP call the neighboring properties, just call the properties that are neighboring, it's a hey, addition, because you can you can do like, like, you can decrease your fixed overhead, you know, if you've got a salary maintenance guy, you know, having him on salary is going to be the same for 400 units as it is for 200. And so you can you can spread some of your fixed cost out that way. But a lot of times that people the neighboring properties don't know what something brought, they don't know that that apartment building sold for this or that the market is here. And if nothing else, you build a relationship with them.
Unknown Speaker 26:06
Yeah, I love it, man. Again, it's like all comes back to relationships. So like we have a property where the management is split. So we have a leasing agent. She's kind of like a manager. And then we have a maintenance guy in the exact same story. And luckily, the management team set this up for us. But should they have their payroll, and another property owned by another group, pays the other half their payroll, and it worked really, really well. It's pretty cool. And like, it's a win win win. I mean, the management likes it because they have people on payroll that are doing a good job. They like it, because they have two different properties under their belt, they don't feel like they're super pinched. And we'd like it to because it's the appropriate amount of payroll for the size, because I think a lot of people shy away from like under 100, or under 80. Because it's hard to find, you know, people to be on site, it doesn't really usually make sense. Yeah, for the property. But if you can split it, like you're saying, I mean, start calling around and say, Hey, I see you got a 50 unit to do you want to split payroll, it's gonna be a long shot, but right, it's worth a shot. Yeah,
Casey Brown 27:03
yeah. Or if you're calling around, like I said, looking to add to whatever property you just purchased, make that part of the conversation and let people know, hey, we're here, we're, we're in the market, we're on the bullet, well, we're on the corner across the street. And the other the other thing that that's really, you know, you always hear people say, lead with value. And, you know, always say, hey, you know, we're gonna be over there working, if you need some help, or something goes wrong, man, you can call us anytime we'll do what we can to help. Indeed. That goes a long way with with anybody but much I mean, you know, and again, that they might have the same situation, and maybe they have somebody on their staff that can help. So, so So let's so wild. Oh, capital. Currently, it has how many? How many deals? Are you all operating right now?
Unknown Speaker 27:53
Operating three right now with that group. And then we have a couple more that are sort of like side JV deals. Yeah, a little bit all over the place, which I think is kind of nice. I mean, I feel like we could, because, you know, another thing about, like, here's a tip for brokers to is, is you got to sort of give them criteria, right? So if you call a broker, let's say you're in Kansas City, I mean, whatever market you want to be in, you start calling brokers because that's key, right? Is that start building relationships, you kind of need to know what you have the ability to do early on, like, what is your target metric, and that really helps the broker start sending you stuff that really fits in your, in your niche, but what's hard about us is honestly, I feel like we could, we could do pretty much any size, like, which is kind of fun. So we tell brokers like, look, we want to, we want to get a lot of deals. So just saying everything got, if it doesn't work, we're gonna know quickly, we'll let you know why. So that's kind of how we operate is we will idly do super small stuff. And of course, we want to do bigger stuff. And so got a couple things come in. I mean, I want to be careful about talking about him on the pod show. Absolutely. He's coming down the pipe, but they're pretty exciting. And you know how it goes, it just, it's just cool to like, edit and build. Yeah, it's it's kind of fun to build momentum, you know, and, and it's, it's also fun, because all the work that's gone into now is is finally like, ramping up, you know,
Casey Brown 29:13
come into the top man. Yeah,
Unknown Speaker 29:14
I love it. I think a lot of people sort of get weeded out by how long it takes to get a deal. And it usually takes quite a while like, okay, hear about syndication, you want to start doing it. It takes a long time. And so I would encourage people like stick to it, you know, because really, it's kind of the the continued effort of into pay off and you like people talk about like the exponential graph. Yep. And I always like, you know, just it's so so level and so flat for so long. And when it starts to take off, this be exciting, and then it really does ramp up. And so I'm like a testament is like, there were times I wanted to quit, but I'm glad I just kept rolling.
Casey Brown 29:52
That's right, man. Well, good. Well, Eric, we sure appreciate your time you spent with us today. Real quick before we Before we end this episode, tell the listeners how they can reach you if they want to reach out to you and, and, and possibly talk to you about the your investments that are coming or even in the future. Go ahead and give your contact information and whatever, whatever form you'd like.
Unknown Speaker 30:16
Awesome. Yeah, the first place everything i Everything I do is on wild Oh, capital.com. The podcast is there. I mean, everything's there. You can log in to be investor. So we do 506 B raises. And so anyone who kind of logs in there, I will reach out personally, I want to know your financial situation, I want to know that we're a good fit. If we're not a good fit, I'll be really honest. So you can reach out to me there. And then yeah, I have a podcast called The Real Estate mindset. So you can check that as well. So Casey, I'm it's really honestly truly my pleasure. I'm honored to be here.
Casey Brown 30:45
Well, Eric, we do appreciate your time. I know that the time is the time is pretty valuable, most valuable asset we have. So But thanks again and cash flow pro listeners. I hope you all enjoy today's lesson. Lesson. I hope you enjoyed today's podcast. I hope you've learned something and reach out to Eric if he can help in any way that's wild oak capital calm, or hey, check out his podcast, the real estate mindset. So Eric, thanks again, brother. Hope you have a wonderful rest of the day.
Unknown Speaker 31:14
Thank you. Thanks, Casey. Thank you
Transcribed by https://otter.ai