First Deal Episode with Josi Heron

A discussion on goals as Josi Heron talks about her recently acquired 60 units in Missouri.

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Originally aired on Jun. 14, 2021 

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Josi Heron
In 2020 I left my corporate job and started Waypoints Equity, LLC to fill a common need to reach financial independence and focus on the true priorities in life. My journey began in a search for passive income for my family, and it grew into an equity company that creates opportunities for others to join on this path. We all have distinct moments and turns on our way through the world, the name Waypoints Equity reflects that it is what we do along the way that really counts. How we live, how we give back and where we focus defines who we are. At Waypoints Equity, I dovetail my background in finance, engineering, military leadership and asset management to find multifamily investment deals, secure partnership opportunities, and deliver returns. I enjoy helping military and service academy alumni as well as professional women to achieve passive income through investing. I am passionate about empowering others to take similar action to grow wealth through multifamily investments and to find the freedom to choose the next waypoint!
Visit her website https://waypointsequity.com/about/
Connect with her on Linkedin https://www.linkedin.com/in/josephineheron/
or at https://www.linkedin.com/company/waypointsequity/
Facebook: https://www.facebook.com/WaypointsEquity
Instagram: https://www.instagram.com/waypointsequity/
YouTube: https://www.youtube.com/channel/UCXWIl3jz-zbE2QYIO49TIvw
Set up a call: https://calendly.com/josiheron
Email her: josi@waypointsequity.com

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Your host, Brian Briscoe, is a co-founder and principal in the real estate investing firm Four Oaks Capital.  He and his team currently have 485 units worth $21 million in assets under management and are continuing to grow.  He will retire as a Lieutenant Colonel in the United States Marine Corps in 2021. Learn more about him and the Four Oaks team at www.fouroakscapital.com  or contact him at brianbriscoe@fouroakscapital.com - be sure to let him know where you found him.

Connect with him on LinkedIn or Facebook.

Transcript

Brian Briscoe: 0:00

What advice would you give an aspiring investor who's like, I don't know, 12 months behind

Josi Heron: 0:04

you start with defining your goals, writing down goals is so powerful. So define your, maybe your, where do you want to be? Does that involve your current job? And if it does, that's okay. I'm not advocating for everybody to leave their job, and then work backwards and figure out if I want to be here in five years, you know, what does that mean for one year? What does it mean for six months? What does it mean for months? And then what can I do today? So define your goals, and then start to educate yourself. There's so many great free resources out there. So the third party, you know to network and take action.

Brian Briscoe: 0:49

Welcome to the diary and apartment investor podcast with your host Brian Briscoe. In this podcast we bring some of the top professionals in the apartment investment field to discuss various aspects of the apartment investing journey with the sole purpose of educating listeners to make wise investment decisions. The Diary of an apartment investor podcast is sponsored by four oaks capital, bringing you high yield returns through apartment complex investing. Today we speak with Josie Heron, who recently closed on a 60 unit deal in Missouri and now the show. Welcome to the dive in apartment investor podcast. I'm your host Brian Briscoe with four oaks capital. Very excited for today's show. It's one of our first deals series episodes. And we have Josie Heron on the line with us who recently closed on a 60 unit deal in Platte City, Missouri, for a $7 million purchase price. So Josie, welcome to the show. Thank you, Brian, thanks so much for having me. Yeah, and this this isn't this. We've known each other for a while now you we've been in a lot of networking events together and super excited to have you and see all the success that you've done. And I'll just say this now, I mean, I didn't realize you when I when I booked you that you've closed on so many deals. So I'm excited to talk a little bit about those. And then then we'll focus on that, that 60 units. So let's start out talking about you tell us about your background and kind of lead us lead us from you know, where Josie was, you know, months or years ago to what got you into apartment investing?

Unknown: 2:18

Yeah, sure. Thanks so much, Brian, I come from a military backgrounds, way back, you know, my dad is an army and moved around, you know, so I don't really have a home, I would say I have a home now. But that led me into the Coast Guard, I went into the Coast Guard Academy and was active duty for a number of years, and then transitioned into the reserves. My primary focus for a significant part of my career was normal general officers, your leadership, but I engineering background, and I shifted, I ended up getting a business degree on my own time. And then when I left active duty, I had a number of various business roles, the most notable of the most recent, you know, I worked for a fortune 500 engineering, I like to say that I a little bit of a speaker for engineers, like I've got enough technical background to understand the engineering aspects of things, but was able to really rise and have a good strong career as a project manager, and then program manager and then you know, essentially an executive at this engineering company. And our focus was asset management. So we're consultants, and it was a phenomenal job and a great career path, but consultants for very large portfolios of infrastructure, and we help advertise and maximize the value from those assets. And so that dovetailed very nicely. When I started looking for my next steps, it dovetails nicely into multifamily. And so how I got into real estate, I was looking, I was on this path with my career and basically hit a couple roadblocks or was, you know, where I just recognized any the change, it was more just along the lines that I was, I was burned out, I tend to dive all the way into what I'm doing and was giving so much of myself to this corporate gym that I didn't that I was not whole, I would say my health was suffering my relationships, and I needed to change. And at the same time, like I said, I had a couple personal hardships that that I needed to deal with and kind of, you know, take some take stock. And so with that, I had some perspective, a couple of Tiffany's and started looking for an avenue where if I you know, if I applied myself 100% to a direction, and I was doing it not for a large company, not for a large organization, or agency but doing it for myself and for my family. That's where I wanted to go and I've listened to some podcasts start learning about real estate and their steps in this direction. Yeah,

Brian Briscoe: 4:54

yeah, I think that that resonates with a lot of people you're loving or resonate with that. That For some reason, the way I said that just sounded weird. And I, you know, maybe it sounded weird to everybody else. But a lot of people have kind of the same epiphany. And they're putting a lot of time and effort into somebody else's business, you know, into somebody else's stuff. You know, and for me, that's, that's absolutely true. I put 20 years into the Marine Corps where, you know, it doesn't matter how much you work for the Marine Corps, when you leave, they're not going to remember the institution's. You're not going to remember Brian Briscoe, you know, it's not saying it's bad, by by any means to be an employee. I think a lot of a lot of people in this apartment investing industry have that same, you know, lightbulb moment where it's just like, wow, you know, I'd really love to be able to put all this time and effort into me in my business, you know, so I appreciate appreciate that. And so that said, I mean, another thing I think is a common thread is a lot of people will take what they've done previous to jumping into your apartment investor and just kind of shifted, and you were able to do that you're able to take your project management skills, and ship that to you know, what you're doing right now. So I think that's something else a lot of people do. And hopefully people realize they can do that is take your skills you've learned in one field and apply them to apartment investing. So let me ask you this, when you decided apartment investing, when used real estate was going to be your thing? What were some of the challenges you had Getting Started? Yeah, just just just just a couple, because I know there's like a billion, but

Unknown: 6:30

knowing where to start, I think is was was definitely a challenge. How to get into it. And once I started down that path, there was is it was wide open, it was almost, you know, analysis paralysis, where you have so many different markets, so many different kinds of things that you can invest in, you know, I had a couple of starts and stops when I was trying to figure it out. But I would say knowing where to start and then measuring the risk in myself in the right way. And then you know, I would say, finding the right people, because it's definitely a team sport.

Brian Briscoe: 7:05

Oh, it absolutely is a team sport. But so, you know, a lot a lot of things you you mentioned, I think everybody goes through at one point in time, you know, I started with single family and I read dozens of books on you know, subject twos lease options, the bur method, the house hacking, fixing flips, and everything else. And I think you hit the nail on the head, there's so many different options. You know, once once people decide the real estate, there's like a million options and even when you get into multifamily, what asset class you What's your business plan, you buy and stabilize? Are you doing pics? Are you doing value ads or whatever? But how did you how did you land on a on a subject or on strategy?

Unknown: 7:48

So listen to podcasts, I heard you know that the general structure of syndications that you can invest in them. My husband, I invested in syndication. And at that point, what another epiphany, I recognize that this is something I could do, I want to learn how the GP side, I went through a started in a real estate course. And it was focused on everything you just said, and you'll just run the analysis, what it gave me was enough of a foundation, you know, to start looking bigger, because the whole time I knew I wanted to go bigger. And, and from there, that was a little bit of a launching pad into multifamily. You know, where I continue to network, I went to a couple of key networking events, one of them last summer, and from there, it really, it really took off. But I think a big piece of that is putting out to the world, what you're trying to do, and then finding good sources of information to you know, good references and mentors to help you get there.

Brian Briscoe: 8:52

Yeah, I wholeheartedly agree. You know, that's really where I started turning the corner. You know, and I, you know, if you listen to me speak a lot, you know, I've turned a lot of corners, you know, and I've had a lot of, you know, lightbulb moments, but putting certain to put yourself out there, you know, is really a fundamental thing. If nobody knows what you're doing, you're not going to be able to attract capital, you're not going to be able to find deals. And I know you've been able to do that. I've seen you in a lot in a lot of different forums. And you've also started your own mastermind, right. Tell us a little about that.

Unknown: 9:23

Yeah, so I started start to actually one came from that conference where I recognized that there's a lot of women in the space, maybe not enough women as a lot of the spaces I work in. Yeah, they often aren't the voices that you hear. And I coming from the military, I'm used to being in environments that that might be the case in a mastermind for professional women who want to get into multifamily investing, and it's been amazing we're going to draw in a year now and just the collaborative environment in that group is phenomenal and and folks are now doing deals. together and it's it's, it's really growing. And then they also started a similar mastermind for military investors. So a lot of them fed in from this course I went through, you know, they're the single family homes, but they want to they want to get bigger. But now it's grown to, you know, we have a couple other members who have indicated, you know, and the general premises that we are folks with some type of military background who wants to get into multifamily investing. And that's kind of at every level. And that's been pretty, pretty powerful as well.

Brian Briscoe: 10:29

Awesome. Awesome. Yeah. I think there, there's something special about starting your own events and and taking the action that you've taken. And we talked about this a little earlier, before we started recording, but I just want to bring it up you, you have a smaller group of people who just get to know each other really well. And I think there's a couple different type of networking events. There's the big pools where you can rub shoulders with lots of different people, but you've got something that's focused and you say that people in that those groups have partnered together and tackled deals. And that's, that's awesome. And I hope you look back at that and say, you know, look, what I've done this is this is really, really cool. So,

Unknown: 11:07

yeah, I really, really enjoyed that aspect of my business that people went into helping helping bring everybody up. You know,

Brian Briscoe: 11:16

that's awesome. You got a curiosity, what was the course you were in?

Unknown: 11:20

Yeah, it was called White feather investments. And by actually two former Marines, similar to yourself, you're almost the

Brian Briscoe: 11:28

same, Brian, almost a former Marine? Yes, almost.

Unknown: 11:31

And really, yeah, great value, add in terms of the edge. And the network afterwards. Is, is phenomenal. And I've actually gone on to do deals with some of those members as well.

Brian Briscoe: 11:41

Nice, nice. I've actually talked to to buddy and Greg, both of them individually. But I've heard a lot of good things about that group. I know they do single they do focus on single family. And like I said, I've heard a lot of really, really good things about the group. And now I talked a lot about the the coaching program, I went through it, it's no secret I did the Michael Blanc program, which was also a super good program, too. But speaking of, you know, shout outs, you know, I get a lot of shout outs to them, too. But so talking about the 60 unit. Now, first question I want to ask is about your team. You know, it takes a team you've already mentioned, it's a team sport. How did you put together or how did you how did this team come together?

Unknown: 12:22

Yeah, sure. So I was on this path, I went to this course knew I wanted to go bigger and went to actually microblogs conference last year the dealmaker live conference, which was virtual, but they did such a good job. When I got out of that with a lot of great networking experience. I inevitably ended up finding my future partner in one of the networking groups at that point I had narrowed down the market to look at Kansas City I live in Colorado is a mo pandemic. It wasn't I did this huge analysis. There's other markets that were stronger, but Kansas City was within driving distance I actually drove there's times instead of flying. But in a breakout group, I met an individual who became my partner later on, who was also interested in Kansas City. I at the time, had already created relationships with the broker and was pursuing multifamily small multifamily deal on my own. This individual His name's Nate Morris, from real smart asset, he started to mentor me, because we had the same he'd gone through that process a couple years before with his own, you know, multifamily, small multifamily. And we were using the same broker, the same lender, the same insurance provider, it was, it was uncanny. And so he and it was a value add deal, which he had done. And he had some pitfalls with his and so that discussion turned into an opportunity later on for me to partner with him on much larger deals and, and he continued to mentor me up to a point that, you know, I now I was able to leave that 60 and a deal.

Brian Briscoe: 13:56

Nice. Nice. That's awesome. Great, great story now dealmaker live is is a really cool conference. I've been to I mean, ever ever since kind of through my talent with Mike McGill. He was in his coaching program, but I've been every single of his dealmaker lives, I think it's a great event to go to. And I'd actually recommend it for anybody. You know, it's super good. I think he's, I don't think middle of July. They're gonna live again this year in Dallas. So so you built your team through a networking event, ended up finding a mentor there, which I think is super important for everybody. Let's talk about how you how you found this particular 60 unit.

Unknown: 14:33

Sure. So with Nate and our other two partners, one who is the property manager in Kansas City and the other who is a colleague and essentially a capital raiser. We started doing deals together and I started very small role. And that evolved into me being able to leave that's that's the role that I am drawn to and definitely us Drawing at. And so we started having deals come to us, we had just gone under contract on another deal 42 units, the area, this 60 unit, felt looked at it before it fell out. It went under contract with somebody else fell out of contract. The broker sent it directly to us because he knew that with our track record, we've been able to close consistently on deals. Because we're the team was focused mate and the team was focused on this other deal. I looked at it, I underwrote it, I said, I think this is a really strong deal. And the team said, Okay, go ahead, Josie, you know, run with it. And I'm like, sweet, here we go. So I dove all the way in and let you know, kind of as key, you know, key partner key sponsor on this deal.

Brian Briscoe: 15:44

Awesome. Awesome. So and this is also something that comes up a lot is the rebound deals. I've heard, you know, people throughout stats, but you know, probably 1/3 to one half of every deal that comes under contract comes back, you know, so there, there's a lot of people who, for some reason or another don't close or, but it's a good way to find deals is to keep track of the deals that you've offered in and coming in second place. You know, I've heard one person say, and we need to do better on this. But he will set a reminder on his calendar for every couple of weeks, you know, when they lost a deal, the call the broker up and say, hey, how's that deal going? By the way that falls out? We're still interested. And you know, a lot of people were able to find those those deals that are on the rebound. But so you found the deal, you got under contract, you talked with your team, they're all full bore for it. $7 million purchase price. We're all nervous about that. Yeah. Right.

Unknown: 16:42

Yeah. So put in perspective, you know, when I was working for the engineering company, I was running multi million dollar contracts, I was bringing them in, I was negotiating them. And so I had worked at that level before. But it's different when you're signing your name on the line. And when you're on point, so I wasn't you shoulder the risk. That's, that's different. It is different. And and when we start to advertise, you know, to investors that we have this opportunity for them to invest along with that there's a lot of responsibility in that there. And, and I underestimated that when I was getting into this industry, but there's a lot of responsibility, fiduciary responsibility to our investors. So it felt it It felt big and so heavy. But I think that also gives me an edge. And I worked really well, under pressure like that. It was our biggest raise to date. You know, I had helped with arrays for 1.5 on another deal that I wasn't leading, but this was, you know, this is on me. I'm like, I know we can do this. Just

Brian Briscoe: 17:42

gotta start. Yeah, yeah. And so if you guys had to raise $2 million, I think you said earlier $2 million to close on this. Let's talk a little bit about that and where their money came from, and some of the lessons learned there.

Unknown: 17:57

Yeah, sure. So I had been working a couple months. Previous to this to set up like my brand, and my company and my online presence. I actually am in the, if you're familiar with good egg, they kind of our mentorship program, they specifically on capital raising and you know, business development. And so

Brian Briscoe: 18:15

we had Annie on the show, and I think she's awesome, by the way.

Unknown: 18:18

Yeah, they're been they've been a game changer. Yeah. So I had a bit of a presence. I know, which I was leaning on for the capital raise. And I put out one a couple blog posts, and maybe he's information about about this deal, you know, presenting it out on LinkedIn. And luckily, I mean, it was really amazing. I had a, essentially a person who knew knew me and my husband very well, you know, former officer, couple years ahead of us, he was in the Civil Engineering Program, which my husband both were, and he worked alongside me at Jacobs, my fortune 500 company, super well, he reached out and said he had some 1031 funds to invest into bringing a majority of that $2 million. And so as soon as that happened, it was like a huge sigh of relief, like, Okay, this, you know, we just got to make it the rest of the way in terms of the fundraise. Yeah.

Brian Briscoe: 19:15

Now talk about I mean, so doing a 1031 you have to do what's called a tenant in common structure on the ownership, you know, so for 1031 to work, he has to have the same entity in each investment. So that forces you to do a tenant in common. So it's much different structure. Can you talk a little bit about the talent challenges of bringing 1031 money into a deal that you're syndicating?

Unknown: 19:41

Yeah, so I think maybe the best summary is when you bring in investors in you want the deal to be very understandable. And, you know, not too complex, otherwise they don't understand it and they get nervous. And so with this deal, our investors were familiar with the Cindy But as tenants in common, the tenant common, you know, the temporary one investor needed to have an undivided interest in the property. And where you can't put them in a syndication, you can't have a GP split, you know, in in that scenario, so we got some great legal advice, we were able to essentially bring him in with an undivided interest, he did step down his equity ownership, a straight, you know, this is how much he put in this is, you know, a straight percentage. So he stepped that down a little bit, so that we could still have that management's, you know, kind of share, you know, we vetted this through a couple different lawyers, and that was what was advised. And then the syndication, you know, is essentially the other member, and that is structured like a normal syndication, as you know, their normal equity share from that.

Brian Briscoe: 20:54

Yeah, yeah. And it does complicate things, because, you know, like, like you said, when you're talking to investors, you want to make things simple, as simple as possible. And, you know, what we do for simple is we do like an 8020, or we just do a straight split, we don't talk about press, we don't talk about anything else. Because that's simple. And people understand that. But once you bring the tick into things, that complicates the structure, because one person is going to have an undivided interest, and everybody else is going to be funneling to GPS and LPs. But I think you went around, we went about it the right way. You got a lot of expert advice. We haven't done this yet. We haven't brought 1031 money into our deals yet. But my attorney has told me that they are complicated, you know, they are complicated.

Unknown: 21:39

Yeah, I agree. However, having done now this one, and we did a smaller one earlier as well, just with the partners, everybody had 1031 funds, we keep on getting hit up by folks who have 10 through one funds, which typically means they've sold an asset, they have more than the normal amount of money that you might get from another investor. And they have a timeline, they're motivated. And so, you know, we're definitely considering as part of our business model to continue to have opportunities for 1031. Investors. I don't know if we would doing the large syndications that way. I'm not sure if that is the path we want to go is probably more smaller deals.

Brian Briscoe: 22:19

Yeah, you know, and pretend 31 money with their tight timeline, you know, a lot of times, and we see this a lot in the type of stuff that we're we're putting offers in as a 1031, buyer will come in with a lump of cash. And sometimes they'll just outbid us just because of the tight timeline. And the fact that if they don't meet that timeline, they're paying capital gains, you know, so, you know, when you look at the returns that a 1031 investor wants to get, a lot of times they're very, very willing to negotiate. And when they when they look at their overall returns, you know, looking at, okay, I don't want to pay, you know, 20% capital gains on this, or whatever their capital gains tax ends up being a lot of times when they're calculating that into the returns tight timeline, you're right, they're very motivated to depart that money so they can get rid of a big tax bill. So Alright, let's let's move on to closing. There's always a hitch in the closing process. Let's talk about some of the lessons learned you had, you know, after getting things in a contract apart from the capital race?

Unknown: 23:25

Yeah. So I would say there's always something like you said, that comes up. And that becomes a bigger deal than you thought it would be. I was very focused during due diligence on some of the improvements that needed and I was getting contractors out there all these bids. And coming up with this budget, I kind of maybe got a little too in the weeds with the project management. I knew that there was an encroachment on the property, but I didn't raise a stink about it early enough in the process. So that ended up becoming a big deal. Literally days before closing, you know, we got the lawyers were all involved, and they're all on your feathers ruffled over this issue that we're trying to have the seller essentially come to us with an encroachment agreement, you know, with the neighboring property. But there's a building that is essentially two and a half feet of that building is actually on the property that we bought. And we essentially need an agreement that states we have no liability if something happens to that building or to people, you know, on that property, it's not our liability, and that that really kind of reared its head. It should have been, you know, caught or addressed early on, but I was I was so focused on improvements that I didn't think it would be as big a deal.

Brian Briscoe: 24:44

Now, who is who is asking for that? Was that a lender requirement? Was that an insurance requirement? What was who was causing that to be a hang up? Yeah, so

Unknown: 24:54

it was my legal counsel, who are coming Oh, they once I started asking a couple questions And once they picked up on what we actually were dealing with they they said, this is a, this is a big deal. You need to get this fixed now. seller, get it fixed now, you know, so it's not a headache later. And so it had gotten through, you know, title commitment it had gotten through all the other processes. It really was like my team saying, you know, this, this is something you should address.

Brian Briscoe: 25:22

Yeah. Yeah. And then I mean, the encroachments, the liability issue, and absolutely right, you know, with with that much of a building over yet, I mean, worst case scenario, somebody falls out a window. It doesn't happen often. But, you know, that's just what my my crocodile brain thought of. But yeah, that could potentially be a liability. So need to get that cleared up before before it becomes a problem and a lot of things like that. And attorneys. That's what attorneys are looking at attorneys are looking at what are the potential liabilities? What could potentially hurt you long term, even if it's something that may or may not happen, but it did happen? Yeah, that's a multimillion dollar suit and something you have nothing, you know, no control over. So yeah, we had the encroachment issue that slowed things down. Did it did did it delay closing? Or was it just a big stressor? Right before?

Unknown: 26:10

Yeah, it was assessed right before and okay. Closing actually was delayed, but it was delayed, because we got a Freddie Mac loan, and they were backed up. We were very proactive in moving things along. And yeah, so the issue was not the problem.

Brian Briscoe: 26:26

Yeah, and I mean, Freddie is what it is, but on Freddie Mac loans, that the lender will underwrite it, and then they have to send it to Freddie Mac, to underwrite it. So there's another hitch in the process every time you do a Freddie loan, because the lender is backed up, or Freddie's backed up, it takes longer. Now, do you guys have to Did you guys have a contract extension built into your your contract?

Unknown: 26:48

Yeah, we had a couple, and then be completely transparent. I had two extensions built in. Because in the middle of due diligence, I had to do my two weeks of reserve duty, and I knew I wasn't going to be able to focus full on this. So we two extensions, and then we got to the closing date, and still needed another extension by four days. So the seller was agreeable to that. And we, okay,

Brian Briscoe: 27:13

we had to do that on one property when we came to the end of our extension, and ended up getting another couple of days extension to do it. And it's most sellers. I mean, once once you're 60, or 80 days into the process, most sellers are going to say, yeah, you can have an extra two or three days. So I mean, it's the alternative for them is to put it back on the market and find another seller and you know, wait another three to four months. So I think most most sellers are agreeable to stuff like that. As buyers, we don't like to ask, you know, for that we'd like to have things done in time, but putting putting my selling hat on, if someone comes to me and says, Hey, we're three days away? Yeah, we'll probably give it to them. But so let's talk about the first steps after closing, and then we'll wrap things up.

Unknown: 27:57

Sure. So yeah, we close, right in the beginning of the month. So we were focused, after closing with transitioning physician to property management sides have been working closely with my partner, Jerry rollin and property management, you know, rents had basically just kind of settling the funds, you know, we had prorated rents, we had reserves, and then work in with the property manager on site who we actually inherited. And she's phenomenal to start implementing some of the action items that we have for the property, and there's not a great property. Some of our other properties are heavy value add, but this one is fairly stable. It just needs a couple nice finishes with turns. And so start moving along with that we had a couple leases that potential tenants that were waiting to move in. So once we close, we had a little bit of a whirlwind, you know, trying to get some units ready to go. But we're, we're at 100% occupancy, nice. we transitioned, there's a model unit that had been there for 20 years, and was hardly ever used. So we just finished transitioning that into a unit. So that's going to be increased income. And we've got someone moving into it next week. So yeah, things things really are working out on the 60 unit.

Brian Briscoe: 29:18

I don't know if you need a model on a 60 you know that there's a certain size where it makes sense. But the I think if you walk into a complex with 300 units, you know, having that model unit is is such a small blip on the radar that it's probably worth having but a 60 unit. I don't I don't know. I mean, that's, I don't know where the where the tipping point is on where you put your model units in. But I would say 60 is on one side and three hundreds on the other. But yeah, I think it's probably probably property specific. But Alright, so what's next for you?

Unknown: 29:53

Oh, well, you know, interesting to ask after, after the whirlwind of closing, you know, on that property Va told myself one, I needed a strategic pause. So I just went through a bunch of mindset and goal setting exercises with my business, I want to continue to grow with my partners, you know, in Kansas City, I do want in the future to continue looking at these larger deals, you know, 60, I'd like to get to 100 100 Plus, the long term goal is, you know, 250 range. And I think, you know, we're on track for that. But as a partnership, we are working on our partnership, because we have been under contract solid for almost a year now on different properties. So we've took some time to really define some of the things that we're working on some things that weren't so strict in the partnership, continuing to grow, you know, into into bigger and better properties, and then I want to spend some time kind of fostering these masterminds that I am, because I really get a lot out of them. You know, it's just, it feels good to give back. You know, I give back in many different levels in other places, but it feels good to, you know, to be able to kind of help mentor or just connect, you know, people groups.

Brian Briscoe: 31:10

You know, I think you're right, it does feel good, you know, and in a way, giving back, you know, might be a little selfish, you know, because you're trying to make yourself feel good. But at the end of the day, I think giving back is important, you know, it's it's something that helps a lot of other people. And I've made it no secret that you know, we are creating something similar where we're going to have we can call it tribe of Titans, where we're trying to build a community where people can come together, and do exactly what you've done in your mastermind. So yeah, love it, love to get your secret sauce for that. But anyway, what advice would you give an aspiring investor who's like, I don't know, 12 months behind you.

Unknown: 31:48

I think start start with defining your goals. Writing down goals is so powerful. So define your, maybe your, where do you want to be? Does that involve your current job? And if it does, that's okay. I'm not advocating for everybody to leave their job, and then work backwards and figure out if I want to be here in five years, you know, what does that mean for one year wasn't mean for six months? What does it mean for months? And then what can I do today, so define your goals, and then start to educate yourself. There's so many great free resources out there in terms of podcasts and information you can find online. There's books, I have definitely joined several different groups. And and that's so helpful. So the third part, you know, to network and take action, you know, once you kind of have a path, you have to measure the risk, everybody has different risk tolerances, and then start.

Brian Briscoe: 32:39

I love it. And, you know, among the many things, what did I call it, one of the corners that I turned, you know, referring to very early in the podcast was actually doing that. And I had a couple of statements that I read every single morning that reminded me every day of what I was moving towards, you know, but those were super powerful, because every morning I read it, and I'd remember my why you remember what I wanted to accomplish? And that's that's helped us do you know, a lot of what we've done so far. Now, last question, how can listeners learn more about you?

Unknown: 33:13

So I'm actually, I've been on a couple of different podcasts. Yeah, story. But the best way would be to look me up on my website, waypoints, equity, calm and waypoints with an S next to those turning points, or those epiphanies I had, that everybody has. And I also like to say, with my brand that your life is really about happens between the waypoints, you know, the fact that you can make now between those, those pivot points in your life, so waypoints equity comm, you can sign up for my newsletter there, I send it out once a month. And then there's also if you're interested in investing, I am gonna continue to syndicate. We find good deals, and you can sign up for my investor list. A is to look me up on LinkedIn. I'm Joseph Josephine Heron, full name, I go by Josie but it's just been hearing on LinkedIn. And hit me up there. messaged me and I asked you, I would love to hear from anybody who is interested in getting into multifamily. We're interested in any aspect of this conversation. All right.

Brian Briscoe: 34:18

Now one question, because I think a lot of people are interested in masterminds. Are your masterminds open to new members? Yeah, yes. Okay. Awesome. So if you're interested in that, you got two of them, one for women specifically, and one for military veterans. So if you fall under any of those categories, and you're interested in what Josie has to offer, hit her up, you know, waypoints equity COMM And then Josephine Heron on LinkedIn and we are going to put links to your LinkedIn profile and your website in the show notes. So make it super easy for anybody to contact yet but that said, Josie, thank you so much for coming on the show today and I would love to have you back on on one of the Ask the Extra episodes because I think you you have a lot more that you could offer. Yeah. Thank

Unknown: 35:06

you so much, Brian. This has been this has been wonderful. I'm a big fan of what you're doing with your podcast and within four Oaks. And I'm also super excited about your next step. Awesome. Yeah. So

Brian Briscoe: 35:17

as we record his prior to I told her that yesterday was my last day of work at the Pentagon. So, next step for me is doing this full time, you know, without any any encroachments of my own. You know, I'm not going to have large Pentagon building encroaching on my time anymore. But anyway, thanks again and appreciate your time today. Thank you, Brian. Thank you for listening to the diary of an apartment investor podcast today brought to you by four oaks capital. If you'd like to know more about how to invest in apartment buildings or want to be a guest on our show, visit our website at four oaks capital comm slash podcast or email us directly. If you're still listening, you obviously like the show. So pull out your phone, app, subscribe, and leave us a five star rating on your favorite podcast app. And we'll see you again next week.