The Human Side of Real Estate Wealth and the Quest for Balance

Speaker 1: 0:02

Good morning, good morning, good morning and welcome to the AMI podcast. I am your host, bud Evans, and today, as always, with me is the beautiful and talented Kimmy Hansen, my co-host from the West Coast. Good morning, kimmy. Good morning, you are on location in a different location.

Speaker 2: 0:21

I most definitely am. I am in my location, but I am remote for sure. I am at one of my condos in Scottsdale, arizona, and I will be heading back home today. Actually, and I am a little nervous. It is un-coded and Ellie and I have Ellie with me and we have something that we have to do pretty much right after we land. We have to be somewhere. So I was trying to book a flight that I was like, oh okay, we can get to the smaller airport and hopefully there is enough time. And now I am like I hope there is no delays.

Speaker 1: 0:54

Everything has got to be on time right. It is like you need military precision today, which is not the way airlines operate. Sorry, kat.

Speaker 2: 1:03

Yes, I 100% need the military precision. That is the truth.

Speaker 1: 1:07

Right. Hey, if you are here looking for news, you are in the wrong place. We are just a couple of friends sitting around drinking coffee discussing some news that happened this week in real estate and doing it badly, and you may throw in a dead joke or two. Arizona you are checking on the condos. You are hanging out having a nice little warm vacation away from the rainy, where you thought you were going to be away from the rain in Washington, and you went to Arizona and got rained on.

Speaker 2: 1:31

Yeah, so actually it has been beautiful here. It has been sunny and 75, which is absolutely perfect pool weather. So Ellie and I have been hanging out at the pool. We have gotten two pool days in since we have been here, hey, and we have got Clarissa coming in Good morning. Merry Christmas to you, clarissa. Thank you for joining us, and I am so glad that we took advantage of the days that we had with the sunshine, because we had tons of other stuff that was on our to-do list since we got here. So one of those things for sure was to check on the condos and take care of some maintenance and such the thing about it is. With the maintenance, I have to say I did something that I have never done and I heard my hands in the air and said I will be back in February. I did one condo. So when I say I'm doing maintenance, it's things that my cleaners don't typically do and I don't have a need to pay them extra to come back multiple times to perform. So I'm dusting the ceiling fans, I'm cleaning the windows inside and out with vinegar. Here in Arizona it gets very dusty, very dirty really quick Every time I'm here. I just make it a habit to do the ceiling fans, the windows and then sometimes the base boards, or I'll wash the backs of all the doors. This trip I made a conscious decision about halfway through I was only going to do one condo, and here's why this is peak season in Arizona. We have a lot of people that are coming and going. We have actually a lot of same-day turnovers at both condos coming up here in the very, very near future, and so I just made a determination that it was more important to take my daughter to the park and give her some time to play and run off some energy instead of cleaning one of the condos. And I was texting the babe and I said I've just made this decision, this is what we're doing and it's fine. I also take all the curtains from the other condo. This condo has all the blinds and privacy shades and the other condo does have blinds, but it also has blackout curtains because of the direction that it faces and, being on the ground level, all of a sudden comes right in. It can be very hot. So I pull all of those. Thankfully, we did it as soon as we got here. I pulled them all down. We stopped at that condo. We had them washed, dried and folded, ready to go right away, and we took them back yesterday, put them all up and I was like and we are done, I'm out, I've done enough maintenance here and it's atypical for us to come back so soon, although last year I ended up being here like every other month, no complaints. But we typically come once a quarter and since we're coming in February and March, I just was like you know what that is next month, kimmy's problem. I'm not going to deal with it right now.

Speaker 1: 4:17

But I'll fill it tomorrow. We could easily do today, kimmy, I didn't do much this week. I just I'm refinancing both of my commercial properties, had a meeting with NULF Property Management out in Pittsburgh and we're looking at not only emulating them and he's a mentor to me in my property management company but we're probably going to model ourselves after them and be a guinea pig for a franchise model. So that's really cool. And then there was one other thing that I did this week. Oh yeah, that's right. I started acquisitions back up in Pittsburgh.

Speaker 2: 4:53

Yay in Pittsburgh. What is the market condition like there right now? Is it volatile or is it a little bit more malleable?

Speaker 1: 5:00

No, it the. So the rents went down a little bit. The property prices went down a little bit. Still reasonable it's not. But didn't do with Austin, texas or San Francisco did over the last couple of years and triple in value so that there's that much gap. They went up reasonable amount over the past few years and when the rates started going up. It's not bad but reasonable rents are still reasonable.

Speaker 2: 5:24

Yeah.

Speaker 1: 5:25

I could still get a house for a hundred and something thousand rented out for 12, 1500 easily, wow. Or, I'm sorry, all in for 100,000. And then we're looking at about a $1,500 rent. So it works out.

Speaker 2: 5:40

Yeah, it meets the 1% rule. Good morning Diane Street. Yeah, that 1% rule. Even more lately I feel like it's been more like one and a quarter percent, even one and a third. It just depends on the market that you're in. But that's great. But I'm excited to see what you do in Pittsburgh. I, that's actually where my dad was born. He was born in Pittsburgh, pennsylvania.

Speaker 1: 6:02

Really.

Speaker 2: 6:03

Probably never talked about it before he. I was actually in Philly in 2016, but I did not make it to Pittsburgh and my dad was super disappointed. I'm like dad, I'm traveling with five, six other people. I am just doing what I can do. So, dad, if you're watching, I promise to get to Pittsburgh at some point, perhaps to help out on one of his flips.

Speaker 1: 6:28

Why not? We've gotten tour when I own 100 doors, that's. Did you do your vision board yet for 2024?

Speaker 2: 6:35

I started it. Yeah, it's not complete yet and I have to admit it should have been complete before I left for this trip. But we had some unfortunate life circumstances that kind of took over and we're still waiting our way through that. But I hope to finish it up with the babe when I get back to town today yeah.

Speaker 1: 6:53

I did mine and Stephanie took part in it, and I asked her if there's anything that she wants to add, and she said no, okay, I'll make it up.

Speaker 2: 7:04

I love that you guys.

Speaker 1: 7:05

I took everything that we were doing and I put it on chat GPT use the dolly section of the app and created saison based paintings and then, depending on the size, is the level of importance on the vision board.

Speaker 2: 7:19

So from one to ten, so it did digitize them. It's not like a physical collage.

Speaker 1: 7:25

No, it's downstairs. Yeah, no it's on the fridge.

Speaker 2: 7:29

Oh, very cool.

Speaker 1: 7:30

Yeah, so it's on 8 and a half by 11. And yeah, it's really cool. We're looking for several things by the end of the year, Hopefully around October. We're going to be going to the Amafi Coast On a cruise private cruise Then we have On there is. There's a bunch of stuff on there, so I'm not going to get too deep into it, but RV is one of them so we can drive or at least me, I can drive across the south of the United States in the winter time and then come back in the north in the summertime and see all of the stuff that I never really got to see because I kept going getting sent everywhere else. Good morning, lay. Lay, the producer is on, we are up and running and I finally get my phone to work, so that's good.

Speaker 2: 8:20

Yeah, I think I shared in our pregame show. I just had a heck of a time this morning with the Wi-Fi router and I'm sitting at the dining room table right now at the condo because where the dedicated workspace is for seven weeks and my laptop did not want to stay connected to the Wi-Fi. So here I am at the dining room table at one of my condos. Oh yes, thank you. If you would please go to StreamYardcom forward, slash Facebook and let us know who you are authorized StreamYard to see your Facebook accounts. We know who we're interacting with other than Facebook user in the chat. That would greatly help us. We love answering your questions live and interacting with you, so thanks for putting that up there, but that's great.

Speaker 1: 9:00

And you can see everything that we're doing here. If you watch it after the fact, check out the AimHighPodcastcom Also on YouTube, where we have this is streaming. You can listen to us on audio at the AimHighPodcastcom. So I'm sorry, last week's episode streams immediately after this one, so check us out. Yes, all right, kenny, let's get into some news articles, because Uncle G brought it out last week. We could be in for a big Issue. We're looking at another one. Another another news source is saying that the US banks could get slammed with one hundred and sixty billion in losses because of commercial real estate.

Speaker 2: 9:47

Very true and actually what the term that was used, that made me just cringe a little bit. It said essentially US bank fragility and it was coupled with words like distress and monetary tightening and I just like it just every bit of my being just. It was a natural reaction that to tense up over that, I don't know, but I don't. I think Uncle G might be onto something here.

Speaker 1: 10:16

Right, I also it's up to us. It's up to us to find these potential deals right and then turn these things around and then yeah obviously it happened in 2008. And they can happen now. You know, last week on the podcast we had Kyle Healy on and he was talking about how he started to buy at twenty four years old after the crash and now he's got eighty one properties and he's flipping two to three properties a month and he's got the eighty one doors. He technically doesn't have to work again. He's twenty nine.

Speaker 2: 10:50

Amazing. It's amazing when you can be a self made entrepreneur, and it's so freeing too. And we've got you, ruska, as well as Donnie, joining. What's up, ru? Good morning, good morning, yes, thank you so much for jumping in and joining us. And but back to what you're saying. I really think what's this is an opportunity for us as investors, and we have to get really good at honing our craft, tightening our numbers, understanding what they mean. I am the poster child, for I see it, I like it, I like it, I want it, I bought it, and I would be completely remiss if I did not admit that right out the gate. However, that's why I have a business partner like they, because they are the numbers guy. He helps keep me in check. I don't really care what kind of property you're looking at, whether it's residential or maybe it's commercial, multi family or commercial or mixed, it doesn't matter where you're, what you're looking at and where it's at. If you push your ARV which any of us can push our ARV, right, if anybody can say, oh no, this property is worth 15% more than I'm going to, that I think it's really worth. You can force the numbers to say anything you want them to say but what you cannot force is success. It's either going to come or it's not. And if you're not paying attention to potential pitfalls, not having somebody double check your work, grab a mentor, grab a peer, have somebody help you out before you dive in. That is one of the reasons that Kyle is so successful right at the gate, because he also had people that he consulted with, people that he trusted, and that's so important. And this is. But you're right, we just need to be able to come up with how ways to collaborate. We're always saying collaboration over competition, so that we can win.

Speaker 1: 12:39

These mentorship programs. Kyle went to college for construction management, so that was that was a really good stepping stone for him especially. But jumping into a mentorship program and hitting up like-minded individuals like we have here in the AMEI, rei, where we're currently streaming, it's reach out to each other and talk. And oh, by the way, kimmy, guess what we're doing? On January 9th, we will be introducing the AMEI. It is now the real estate investor roundtable, where we will be putting together like-minded individuals on Facebook and creating a place for us all to get together and network. So it will be at noon on Tuesday, starting January 9th, and it will be Jen, josie and I love this.

Speaker 2: 13:29

There is no negative equity in this y'all.

Speaker 1: 13:32

I'm telling you Nope. So you want to talk to a couple of people who've done a few hundred flips and rentals and short term, long term, medium term, intro term I don't know what any term can we have, right? Yeah, we will be getting together on Tuesday at noon, on January 9th, to start this off. There is a few involved so please check it out. We will be putting out more information as it comes up.

Speaker 2: 13:59

It's so exciting, but I think a lot of times we pass up these opportunities because we don't know what's going to happen. At a networking event, I got to say take the leap of faith, and what it comes down to. And what it comes down to is, like you said, just bounce ideas off of people that have more experience less experience than you. You can just believe quite a bit from being in the same room as people who are like minded period. And that's exactly what's being put together here. Hang on a second hang on.

Speaker 1: 14:27

I got to. Let's introduce, let's say something here. Happy birthday Ru.

Speaker 2: 14:33

It says great day for my birthday. So is Ru-.

Speaker 1: 14:37

It's January 9th, your birthday, Ru or are we talking about today?

Speaker 2: 14:42

Yeah, now I'm curious. Yeah, now I got to know Now inquiring minds must know. Yes.

Speaker 1: 14:49

Kimmy, I got to stop going to bars, I think. I'm too bossy, I kept ordering everyone around.

Speaker 2: 14:57

But I can't right now with you.

Speaker 1: 15:00

Too bossy. So that's the answer. January 9th, Ru. Guess what I'm two days later on January 11th. Yeah, that's right, that's right. So welcome to the pool club. We are crapacorns. I will remember that one. I do not make wait until after Kimmy takes the sip and eventually we'll get a spray on the keyboard. Oh my gosh, I'm not the only one who spills my coffee then.

Speaker 2: 15:27

I wouldn't have been a spill, it would have been a spray, but I digress anyway. So back to what we're talking about, of this commercial real estate facing this huge potential crash. Bob, we talked about the percentage of the loans that we were anticipating that were going into negative equity or already had negative equity in this sphere. Today we have the numbers it's approximately 14% of all loans and 44% of office loans are in it's negative equity Industry, right, or executives, it is what it is right.

Speaker 1: 16:07

You've got to improvise, modify, adapt and overcome. I took my mixed use and converted it to residential and now we're going to finish up the office space in there and we're going to make that a residence so that we can Number one. It's small and it's mostly storage, so it was geared up for a plumber or an electrician to use as a home station, so it was only six or 700 hours a month in rent and when we convert it we can go to 14. But in this case, the doctors, the attorneys, the dentists that need space because that's where they're performing all their stuff and I know we talked about this last week they're going to be fine. It's the companies Like. The reason I love working with I'm not promoting, but I'm just saying the reason I love working with prime realty is that I have never seen the Haddonfield office and I've been into the Cherry Hill office only because that's where I do my closings.

Speaker 2: 17:04

Love that.

Speaker 1: 17:05

And of course, that's where the headquarters for Second Street Property Management is. But yeah, I mean, it is what it is, right? No, that's where our mail goes. I got to go in there to pick up the mail, Anyway. So shout out to Mark Ricci from Prime Realty Partners. But they have a shared space. Now they're buying a building because they've grown, and then they have a couple of companies that work with them and there's going to be a podcasting space and a building activity room, B-A-R, and then that will all be in the same place, which is fantastic. They're the kind of people I love to work with, the people who use the B-A-R, the building activity room, but in that case you're fine. Right, it's these office complexes that have 300 people that they can do their job from home, and that's what the new employees are looking for. It's depressing, though. You got to get out and see the sun Work in nine hours in your basement. Who wants to do that? Oh my god.

Speaker 2: 18:06

Unfortunately, the vast majority of Americans right now are who wants to do that, and what happens in this case is the impact that this predicted crash could have on the real estate market. The implications are pretty great for the rest of for the rest of the financial world. It could potentially trigger a broader financial crisis. However, remember, I want to exercise caution when we reference 2008. It's just the only point of reference in our recent history that we have, but this is not exactly what happened in 2008. 2008 was the fall of subprime lending and basically, if you have a pulse, you can have a mortgage. This is a little bit different. It's just coming at a financial crisis from a different angle and essentially because this has so much scrutiny on the US banking system and the regulatory challenges that are going to present themselves our investors and stakeholders who are out there right now and have exposure in this industry. You're going to have to pit it it's my favorite word ever and for those of us that are not in this space yet, this is the time that you start creating contacts and partnerships and networks, so that you can build upon that and navigate through what's about to come our way, which is opportunity abounding.

Speaker 1: 19:31

Now, in conjunction with this, we have the recent home report. Right so home affordability came out and Adam reported it Q4 2023. The report revealed that median price for a single family home and condo was less affordable compared to historical averages from the world of duh right, no kidding.

Speaker 2: 19:49

Yeah, we need to have a captain obvious that can race across our screen when the shield, exactly, exactly.

Speaker 1: 19:59

Speaking of which, I forgot to turn that on, anyway, so now we have our ticker. Yeah Right, it's a couple of things. Number one, the interest rates, and then stagnant. There's been a home value increase and a mixed trend in mortgage rates and all that kind of stuff, but it just. Homes are on an average of a 16 year high. I was just watching Tariq. He posted something about the difference between homes and salaries from 1980 to now, and it's just, it's absolutely insane. Home prices have increased 10 fold and salaries have increased like four. So it just makes it more and more difficult, which is why I buy rentals.

Speaker 2: 20:43

Yes, everybody needs a place to live. Everybody needs a place to live. We still have a scarcity of available housing for people looking, and that's rentals and purchases, and that's absolutely right. That's why you buy rentals. Everybody needs a place to live. I also feel very strongly that right now and we've been talking about this for months and months, but it's not we're not just talking about squeezing the lower and middle third out of the buying space. What we're talking about right now is and we've seen it, we've seen the market come to a halt in terms of sales and what happens is now we predict that there's going to be a rate drop and when the rate drops significantly, prices have to come up. There's got to be a balance, right. I've been talking to people that have said things like I'm not going to buy yet because I'm going to wait for the rates to come down. Right, but if you're going to wait for the rates to come down, you're not going to qualify to buy what you want. You need to buy it now. Marry the house, state the rate. I can't I don't even know who to credit with that, but I saw it and I was like I'm stealing that because it's so true. If you don't take the opportunity today, it's just going to get worse. Quite frankly, major home ownership expenses. Right now it's requiring one third of the national average wage.

Speaker 1: 22:11

Right, I know, but listen, we used to say you need to make three times your payment in order to live in a house. Oh my God, it's 33% of the entire household income, not just like the one person who's going to get the mortgage Everybody in the house. 33% of the total mortgage. That's insane, yeah. It's still 33% of the income, but it's the whole income of the entire house. When I bought my forever home before we moved into a downsizing townhouse, which I missed my old house, but the point being that I was able to qualify for it on my own and that house is now three times the amount that I paid for it in 1999.

Speaker 2: 23:01

Yes, we definitely don't live in a single income world. If you're buying real estate specifically for personal use, it's ridiculously expensive. You have to have more than one income. Or if you're buying it as an investor, you have to start creating relationships so you can JV, because hard money lenders aren't just going to give anybody a loan. I do understand and I realize that's what we see on TV, that's what we see glamorized on YouTube and all the places, and that's great.

Speaker 1: 23:31

Just go get a hard money loan. They'll give it to anybody.

Speaker 2: 23:34

No, yeah, no. Not only will they not give it to anybody, you can be crushed by the rate or the terms, or a million other amirative little things in a company you know, who taught me a lot of this stuff. Who.

Speaker 1: 23:47

Coach Rob, who just made a comment about.

Speaker 2: 23:48

He's here.

Speaker 1: 23:49

You got to where lay was like pants are optional and right after Rob says you got to get dressed. Here's the thing I was thinking about, that, and I was like you know what Skunks wear pants? You know how much money they carry around on them? One cent, one cent.

Speaker 2: 24:07

Oh five, it's too early for this.

Speaker 1: 24:14

I could have gone the other way and I could have said I've got this bird that keeps showing up at my construction site, so I put him to work because he's a crane.

Speaker 2: 24:22

Oh, that was that. That one was that because he's a crane.

Speaker 1: 24:27

Could have done that one.

Speaker 2: 24:28

I didn't chose not to oh man, I hope you don't need a crane at your construction site.

Speaker 1: 24:33

Oh man, I might have to after a while. These guys are sitting around a lot. We're starting to get fat.

Speaker 2: 24:38

It's gonna come in like Miley Cyrus yeah.

Speaker 1: 24:42

It's coming like a wrecking ball. I tell you what the next one. I might just do that. I might just do that. I might just come in and just tear it all down and then just build it all up.

Speaker 2: 24:51

Our friend Devin Bravaco says we've one wall up and then it's considered a rebuild, not a new construction.

Speaker 1: 24:56

It depends on where you are. But yeah, absolutely yeah.

Speaker 2: 25:01

Speaking of that, but depending on where we are, let's talk about the best places to invest in real estate.

Speaker 1: 25:06

Kimmy, I gotta tell you something. I got slammed for putting out a PDF the other day and I was like, hey, this is how to find cheap houses or inexpensive homes. We keep updating the information and putting it out like every seven or eight weeks with different metrics that we're using. At that time, this came out of US News and they were like, hey, here's the best real estate investment opportunities in 2024. They came up with REITs, residential properties in lower and middle classes, in areas with growing populations. Duh, I was like, hey, population increases, job increases, increased prices that are going up for housing, and like B and C areas. Primarily is exactly what I put out in that document. Here you've got this news article that's coming out. It's just another one of those stories where you go.

Speaker 2: 26:03

thanks, We've talked about this many times before too, but it's not necessarily about where to invest, it's when and the time is now we have said that. I will reference one of our very first coaching calls ever. And the babe? For those of you who know my husband, he's always been a bit skeptical. I asked you, bud, what should we be looking to buy right now? Your answer was buy everything. I remember thinking how do I do that? How do I just buy everything? I get it now. I understand now because you have to take action today. We've seen this before in fitness posts and workout related stuff. Everybody says the best time to plant a tree was 20 years ago. The best time is today, sure?

Speaker 1: 26:59

That's a warm buffoon.

Speaker 2: 27:01

Yeah, it's the same for today. It's the same for real estate today.

Speaker 1: 27:04

You can't sit in the shade of a tree you never planted.

Speaker 2: 27:06

That's right.

Speaker 1: 27:08

Yeah, you can you can plant a dog on acorn, so you can get a tree, so that 20 years from now you can sit in the shade.

Speaker 2: 27:14

I bet Kyle would agree with you, being that he started when he was 24 and now he's 29 and he doesn't have to report to a W2 anymore. Why? Because he saw opportunity.

Speaker 1: 27:24

Never needed to.

Speaker 2: 27:25

And you took it yeah.

Speaker 1: 27:26

We needed to Haste the house. Hacking is first deal. Didn't have to pay a mortgage. Didn't have to pay rent.

Speaker 2: 27:32

It's glorious, it's truly glorious. We could sit here and talk about this market or that market, what's growing, what's not, but again, you have to just evaluate and understand what your risk tolerance is. Let's use this, for example I'm sitting in a condo that my risk tolerance allows for me to come and rent or stay in for my family vacation. And, by the way, bud, I'm required to be here at least one of my units a minimum of two weeks per calendar year. Why? Because of the financing, because of how they're financed and the insurance and all the other implications Because of my risk tolerance.

Speaker 1: 28:15

You can rent it to your company.

Speaker 2: 28:17

Arbitrage to yourself. Yep, you can totally do that Arbitrage to yourself exactly. Yes, you can arbitrage to yourself. That is a hack that I got from Jen Josie, who got it from Melannie Hock. It's glorious and but the thing is not everybody's risk tolerance for having a vacation rental in Scottsdale, arizona, will match mine. My risk tolerance for having a vacation rental in Florida is too high. I can't do it. Why? It's not a direct flight away from where I'm at as a remote investor and I would need to hire property management, which would affect my bottom line, which affects what I can spend on a property. In fact, I had a friend here in Arizona. Just bring one across my desk and he was the first words out of his mouth were seller financing available? And I went, ooh, like I always just like. Seller financing is always something that I want to negotiate myself Because I want to make sure that the people that I'm buying from are being taken care of and my bottom line and the risk tolerance and the bottom line are matched. I don't want one out of sync with the other ever. And I looked at the property beautiful property and then I was looking at the terms and I'm like I don't know who negotiated this or who agreed to it. I would literally never. I would never do a seller finance on a one year balloon. Can you imagine? I don't even want to start talking about it until we're talking about seven to 10 years like minimum. Why 10 years is half of a real estate cycle and I really can't promise that I'll take care of my seller in a year.

Speaker 1: 29:46

I don't want to over-promise. Listen, if they lower interest rates the way they're talking about lowering interest rates, one of two things is going to happen Affordability is going to go up, right, and but you don't know if the housing market's going to be like yeah, I don't feel like it now. Yeah, and then all of a sudden, now the housing market, just the prices start dropping and now you can't refinance and take care of your seller.

Speaker 2: 30:10

Yeah.

Speaker 1: 30:11

Five years from now, 10 years from now, you get a recovery.

Speaker 2: 30:14

Absolutely. And if you've seen bench warmers right, Like, I feel like the real estate market could just decide to be a bench warmer Really it could. Or the water boy what was that? That was an Adam Stanley movie, right, the water boy. It could just be not as effective as they're talking. And by you and I have said before, man, it's unfortunate that we have to rely on that for so many things. If we could just say, just lower the interest rates to here and see what happens with the market's stability or volatility, that's what we would like to see as investors.

Speaker 1: 30:45

It's not going to happen but yeah, hey, listen, you got to invest early, invest often and just keep moving forward. We had a conversation last night in my mentorship program where we were talking about specifically that it is counterintuitive when someone says to you hey, I'm having a really hard time pushing, I've got a bad flip, or I've got one bad tenant, great, how are you going to offset that? I'm going to work on this. No, go buy another one.

Speaker 2: 31:12

Yeah.

Speaker 1: 31:13

Don't stop, just keep, just push forward. It's like Winston Churchill said when you're walking through hell, just keep walking.

Speaker 2: 31:20

Yeah.

Speaker 1: 31:21

And I think it was Jason Aldeen that said the same thing, but in country music terms, right.

Speaker 2: 31:27

He said it with some twang. I don't think Winston Churchill had Well.

Speaker 1: 31:31

Winston Churchill had an English accent which makes it sound more educated than Jason Aldeen.

Speaker 2: 31:35

Does it? That's a problem? Probably yes, you're probably right, and what you just said there's so much truth to that. I also feel like I myself had a moment and by a moment there was a couple of months that I was just terrified to keep moving forward, to keep investing to find more opportunities. And you remember, because I was frozen, and because I was frozen, the babe was like wait a minute, you're my acquisitions gal. What are you? If you're not willing to look at stuff? What am I here to analyze? What are we doing? And I just let's just hold with what we've gotten and it was very, it was definitely. I was at a standstill and it was unfortunate. I actually had Christie, one of the Coffee with the Captain tribe members and somebody that we also know through homeschooled. Christie called me out on it. She was like you need to start thinking about what you're going to scale next in your business. You need to start looking at another property. You need to think about JV opportunities, because a few properties is great but at the end of the day, that's not going to sustain you forever and if you're not doing anything today, nothing is going to happen for you tomorrow, next month, next year, whatever. It was terrifying to me. I literally screeching halt, the breaks were put on real estate investing for me because I just didn't know what to do. And that happens. It happens to the best of us. I don't think it hasn't happened to any mentor that I have or coach. And it was difficult to pull myself out of it because I really had to push past not only my original comfort zone and my risk tolerance that I know what I'm averse to or what I'm aligned with, but I also had to push past this limiting belief. And they come and go. It's like grief. It comes and goes in waves and, as an investor, that's why I do these things, that's why I do this live stream with you, bud, because we were, I think we were having these conversations on the phone or on Zoom or whatever, and then one day you were just like let's stream this, let's stream it.

Speaker 1: 33:34

Somebody else is having the same problem. Let's go.

Speaker 2: 33:36

Definitely definitely. And I also think, if you're having these issues or if you've ever felt this way before, you're in the right place, because this group, and especially the Aim High REI group on Facebook, by the way, it's free. It will always be free. Yep, you're not gonna run into somebody there that hasn't felt the way that you're feeling now or that doesn't feel the way that you're feeling now. You just never know. You just gotta put yourself out there.

Speaker 1: 34:00

Yep, and we have chats. So hit somebody up, jump into a chat room, have a conversation. If somebody has been going through it before, what we're doing is we're putting it out there in the chats so that there's an ongoing process. So please, by all means, use those chat rooms. Yeah, real quick. If you're still watching at this point, thanks for hanging around. If you're watching after the fact, we appreciate you checking us out. Yeah, and so the three stories that we went over, kimmy, today, were from US News. We talked about the report, the housing report, we talked about the best places to invest in real estate and we talked about the pending, potentially pending, office property, commercial potential recession, just whatever. Anyway, if you like what you're hearing and you're getting some value, do us a favor share this group with other real estate investors. Check us out on the AMI podcast at theamipodcastcom, apple Music or Spotify, and if you're watching on YouTube, don't forget hit subscribe, turn on the bell and then share us with some friends so that we can increase the audience, please, so that we can keep this thing going, because Zoom doesn't pay for itself.

Speaker 2: 35:17

Nothing pays for itself. No, it doesn't, unless you're a real estate investor.

Speaker 1: 35:20

I rent the properties do, but you know, that's right, that's right. It's all good right, but it is five after 11 and Rosie, the timekeeping dog, is giving me the eyes, so she needs to do her business and I have an 1130 meeting. Kimmy, I hope you have a safe travel and everything runs exactly on time, the way you train and plan for it. Train for it, no plan for it.

Speaker 2: 35:43

My whole life has been training for this day. Thank you, though, haya. As long as the flight is not delayed and we don't have any setbacks, we should be fine. I'm all packed up and ready to go. Always sad to leave here, but happy to return home, of course, and I'm just so thankful. I just posted this on my Instagram story and thankful for the opportunity to invest. It creates generational wealth in my family and I just love it. I love being able to come down here on a whim. Yeah, it's great.

Speaker 1: 36:10

I'm thankful for sleep. Sleep is easy. I can do it with my eyes closed.

Speaker 2: 36:14

I almost took a drink of my coffee. I'm really glad that I didn't.

Speaker 1: 36:19

On that note, don't forget to tag a friend who might be interested in this content. Until the next time, I am blood Evans, host of the Aim High podcast, along with Kimmy Hansen, my co-host from the West Coast Aim High.