Power Moves: Strategies for Successful Real Estate Investment

What does it take to build wealth, maintain a successful marriage, and juggle family life all at once? Well, my good friend and seasoned real estate investor, Tamar Hermes, is here to share her journey over the last 20 years and give us the inside scoop on her latest endeavor, the Wealth Building Concierge. She shares her experience and wisdom on an array of topics from tax strategies to the power of relationships and how these have played a pivotal role in her success. 

Ever pondered about the art of diversifying your investments, or been baffled by tax strategies? Tamar breaks it down for us! She delves deep into how thinking big about money can help you achieve your financial goals and why establishing a living trust is so crucial. We also discuss the power of networking and investing in yourself when the opportunity arises. 

Towards the end, we shift gears and talk about the best ways to evaluate real estate investments and strategies. Here's where we discuss specifics including asset liquidation strategies, vetting potential investments, and choosing the right operator. Tamar also shares her insights on the importance of execution in a deal. This episode is loaded with valuable tips, strategies, and wisdom for anyone interested in building wealth, balancing a career with family life, or seeking a more nuanced understanding of real estate investing. Join us and soak in all the knowledge Tamar has to offer from her extensive experience in the real estate realm.

This episode is brought to you by Premier Ridge Capital.

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Transcript

Speaker 1: 0:28

Welcome back to another episode of Latinos and Real Estate Investing Podcast, where individuals just like you come to learn how to create wealth through real estate investing, entrepreneurship and business ownership. And today is my good friend, tamar Hermes. I said that wrong. I always say your last name wrong Tamar. Tamar is a real estate investor with more than 20 years experience. She's a founder of Wealth Building Concierge, a coaching service committed to helping professional women manage and grow their portfolios, with a focus on real estate investments, and last year she published her first book, the Millionaire's Mentality a Professional Women's Guide to Building Wealth Through Real Estate. And she's also my business partner and she's my personal friend and I love to have her on Every time we get on a call. We could just talk for hours. We talk business and strategies and different things. My friend, welcome. Welcome to the podcast again.

Speaker 2: 1:23

Thanks for having me Excited to be here.

Speaker 1: 1:26

Tamar. So for those that don't know you, why don't you tell us a little bit about yourself? You've been on here, you've been here before. Why don't you tell us a little bit about yourself and how you started this Wealth Building Concierge coaching program that you have for women?

Speaker 2: 1:39

Absolutely so. The Wealth Building Concierge was an evolution of finding meaning and purpose in my life. Just like most of the listeners, we want real estate so we can have freedom, so we can have choices, so that we can create the life that we want on our own terms. That was all I ever wanted. So 25 years ago, when I bought my first real estate investment, it had to do with me stopping to change time for money, and I bought a duplex.

Speaker 2: 2:14

I was an executive in real in, not in real estate. I was an executive in Hollywood. I knew nothing about real estate, and I bought a duplex and realized that I could really cut my expenses down, which, of course, is one of our quickest paths to freedom. And from there I kept buying properties and getting into more deals and getting into more partnerships and learning more about real estate and wealth, because really just buying and buying and buying without a plan or without thinking about what wealth means makes it like we're not putting a lid on the jar. And so that was the evolution that started Wealth Building Concierge. I chose to concentrate on serving women because I, as a poor child growing up, always felt really scared around money and the lack of it and really felt like women more than even men, for the most part need more support.

Speaker 1: 3:23

And I gotta tell you, this lady here knows money, because I come to her for money advice. Oftentimes I come to her for money advice. I say, hey, Tamara, what are you doing here? I got this and I'm doing that. What do you think? So, Tamara, you started working with women. You deal with a lot of professional women. You're a professional woman, but I also know you personally. I know your family. I know her husband is really cool. We talked about it in the last podcast. Her husband, he's a Hollywood guy and she doesn't talk about that much, but I know you have a successful marriage. By the way, Congratulations on your anniversary. You recently had an anniversary.

Speaker 1: 3:55

I saw it on Instagram and I saw it 22 years, 22 years long time, and to that I want to elude, right. So here you are, a successful woman, you're good with money, you're good with investments, you're a driver when it comes to money. You know how to play the game. You're teaching other women how to play the game. However, women nowadays have problems. I know because I have a lot of female friends just like you. Not you per se.

Speaker 1: 4:21

You're the exception to the rule where they're very successful in their own right, in their businesses, they're good with money, they're doing great, but they're missing it on the relationship side, right, they're missing it on the side of the family side. And you have two beautiful children, which I've also met and spent time with, and your husband spent time with him as well, and you've kind of figured that out. Can you tell us, how does a woman like yourself, right? What do you teach women about that? How do you get to a 22 year marriage, being married for 22 years, celebrate your 22 year anniversary, having a beautiful family and still being powerful and being able to polarize on both things, being able to be in your masculine energy when you have to, and doing deals. And you're talking about real estate and you know your stuff there really well. And then being able to be mom because I've seen that side of you too mom and the wife and with the family.

Speaker 2: 5:17

Okay, well, first of all, I want to say for anyone listening, if you ever need to feel good about yourself, call Martin. He's going to find every thing that seems wonderful about you and embellish it so that you go out in the world and create anything because you feel so good about yourself. That's the first piece of advice. So I want to say that I definitely don't feel at all like I have it all dialed in and I would say that we are all on our paths and maybe you're someone who doesn't feel like you mastered relationship, partnership, marriage, kids, and maybe you dove deep into work and career and mastering all of that. Maybe you've had a different path, maybe you've leaned into family and haven't given as much to career because you're leaning into family. And the first thing I want to say is honor whatever's true to you, because I believe that there's a lot of pressure with a lot of women feeling like and men too, but especially women feeling like hey, if I don't have all these boxes checked, then I am less than then.

Speaker 2: 6:41

I didn't really live my fullest life and I feel like my trajectory really came from meeting my husband 25 years ago, knowing that I wanted to have kids, prioritizing kids having career, buying real estate, but not as aggressively, and then, as the kids got older, really wanting to break out into this wealth building concierge and into more wealth and more real estate and more understanding around money and wealth and sustaining wealth and what that means, and I really feel like I utilized my relationship, the power of my partnership, to support me.

Speaker 2: 7:25

Just like Martin just pet me up, my husband does that for me. So it all comes from somewhere and I guess I just wanna say that, wherever you're at, honor it and lean in to whatever it is that you have and if you wanna create something, lean into what you have with the vision of what you wanna create, and let another person or another vehicle or a company that you have, or something that's or friendship that you have, let it support you to move forward. I use relationships in my life now the most of anything else that I do in my business and I lean into others, into partnerships, into learning with others, into masterminds. All of that is so important and viable to me. That's why I started my own mastermind, because I saw how powerful it was and that I really resonated with it.

Speaker 1: 8:24

Yeah, you do that. You and I do that all the time. I mean, I'm constantly calling you like hey, tomorrow I need this. And you're calling me like hey, I need this. You know, and we're just constantly leveraging our relationships and helping each other out, and I know that you do that with all of your friends. I can tell, because every time I'm talking to you like, hey, I'm gonna introduce you to this one or I'm gonna let me get this one. I just asked you a question about DST. We were talking about off air, the First Sales Trust and I told you, hey, I'm selling these assets, what do you know about this? And I'm thinking about moving some money into it. And you said, hey, I'm gonna introduce you to this person that did it. So this is what's so cool about you tomorrow. I wanna ask you tomorrow, what would you say are the three top things that you coach and advise women or anyone that you're coaching three top things that you can share, that one can do men or women doesn't matter to maintain and sustain well.

Speaker 2: 10:40

The first thing that's very important is to have a diversified portfolio. I firmly believe you don't wanna have all your eggs in one basket. Oftentimes clients come to me and you also may have viewers that are starting to listen to you because maybe they've just been trained like most of us. Hey, put your money in the stock market, wait for it to grow and then, when you're 85, you can take it out and enjoy the rest of your life, kind of thing. And I think that the stock market has a place. I think it's right for certain things and it should be in modification, because when the stock market goes down, your portfolio goes down and there's not a lot of pivot room. At that point You're a little bit of a sitting duck because your portfolio goes down and you have to climb so far to get it back up, whereas if you have some in the stock market and some in real estate, you can start to pivot and make choices. So, that said, I really think diversification is important.

Speaker 2: 11:48

I also. My portfolio is predominantly real estate it's probably 80% real estate because I believe in it and I understand it, and that's why we're on this podcast, is why Martin and I come back so much and we both get it and we love it, and I think that even inside of that, I have different plays that I use to make sure my portfolio is maximized. The second thing is learning tax strategy. I think that if you don't understand tax strategy, then you're missing a big piece of the puzzle of wealth, because most wealthy people have learned the tax codes and how to work with them, how to look at the incentives that the government has given us to save on taxes. That's why many of us are business owners. That's why many of us are real estate professionals. All of these opportunities that have been presented are really important. So you might be making a million dollars a year and I might be making a million dollars a year, but if you only keep 60% of that, you're left with 600,000, and I might be left with 900,000 or more.

Speaker 1: 13:03

That's significantly. That's significant.

Speaker 2: 13:06

Significant and we're talking big numbers or reasonable numbers, because that's where Martin and I want you to be playing. We don't want you to be thinking of little numbers. Even maybe, if you're starting out and maybe it is more little numbers right now, start thinking of bigger numbers. Let yourself expand into that. The more you think about it, the more you can increase your way of getting there. I know I remember a coach once said to me early on if you wanna make a million dollars a year, think of making five million dollars a year, because if you're even just thinking of making five million dollars a year, you're going to be operating differently than if you're trying to make a million. So I always shoot high and that's just how I go, and I might do a good, better best. But that's us a little sidebar, I would say. So. Diversification tax strategy.

Speaker 2: 13:59

The other thing that I would say that is super important is understanding all the pieces that are involved in really creating wealth. So a lot of times we work, work, work, work, work and then we have all this money accumulated but we don't have a living trust. So, basically, like you went through your whole life, you bought all these assets. You didn't figure out that you're not supposed to change your name into the kids names. You don't get the step up and basis, so you basically lost out on all that, and then you don't have a trust. So then everything goes to probate and then your families maybe trying desperately to get what you worked so hard to give them. Or maybe you wanted to give some to a charity but you didn't designate that. So all of your wishes, everything that you worked for, isn't in place. So I would just say, staying on top of that and some of that stuff, it feels a little bit boring and like getting caught in minutia and details. I just try to think that it's just part of putting the pie together and I love it. I'm gonna add a number four that I think is really important, and that is your relationships, and that's something that we've already touched on, because People are everything and they're everything. They're not only the juice of our life and how we live a more fulfilled life, but they also enable us to grow together and to share and experience together.

Speaker 2: 15:29

I was just saying to someone on a podcast yesterday that I reported that I would much rather make less money on a deal and have a partner than make all of it by myself Because ultimately there's only so much that I need at a certain point. But if I get to work with Martin and we get to talk and we get to share and we get to laugh and we get to figure out ideas and have two brains instead of one, I'm happy to give some away. I love that and I know you're like that too, martin, and I just think that's a really important key is to not be stingy or not. It's not stingy.

Speaker 2: 16:06

I mean, most of that comes from fear. That's from fear of not having enough, of not having an abundant mindset. So, working diligently wherever you're at because I think this can kind of haunt us from childhood and then just kind of creep in the sooner that you can just think there's enough for everyone and get into the joy of that. I think that that is a really important wealth key because, let's face it too, there's a lot of wealthy people. They're very unhappy. Most of the time they're unhappy is because they're really lonely.

Speaker 1: 16:36

There's so much to unpack there tomorrow. I want to touch on the relationships, but you nailed something. You said something about relationships, like how did you and I meet? We met in a bus. We became friends at a real estate investment event at Mastermind, and we became friends. I hung out with your family you and your family and here we are. You're partners in a deal. We're going to do more deals together. You've been on here multiple times. We talk all of the time. Relationships are so important and the people you spend time with and you're listening to and that are speaking into your life are so important. How and where do you find those people playing at a higher level so that you can improve your circle?

Speaker 2: 17:15

Yeah, that's so good. That's so good, martin. So the first thing that I want to say about that is when Martin says, yeah, we met on a bus at a conference. That conference was for $10,000. I think was the investment to go to that conference. So the first thing I want to say is and you may not have $10,000, and that's okay. I'm going to talk about it in a way where you can meet the objective regardless of where you're at.

Speaker 2: 17:41

The first thing I want to say is if you do have resource and you're feeling like that's ridiculous, that's a waste of money. I'm not going to spend time on that. I would say that you need to ask yourself what it is that you really want for your life and who it is you're attracted to, or what are people, what people around you, or that you're seeing or doing the kinds of things that you want to be doing and in order to be around them. If there's a price tag so there's a price tag to join my mastermind. There's a price tag to join my coaching program, like many vehicles there are if you believe that someone can support you and you want to be around them, you should be throwing your money at them because that's an opportunity for you to up-level yourself. So that's the first thing letting go of feeling like, oh, that's a lot of money.

Speaker 2: 18:42

And the first thing to think about when you think that's a lot of money is to start asking yourself what do you feel? That there is not enough for you to be able to make more? Where is it in yourself where you're not stepping up into the level of I want to hang out with Martin and Tamara. You've got to become that person. You need to step up into that idea that you're that person.

Speaker 2: 19:08

So if you do have that money and you're not spending it, I would say, like my husband Oasis, when we spent a lot of money sending my kids to college, what else are you going to do with them At a certain point? Right, okay, well, if I'm obviously like, spend it on my children, spend it on myself, on my well-being, on up-leveling my game, on understanding who these people are, or on learning strategies from people that I believe are communicating in a way where I feel like I'm going to go from here to here. So that's one thing. So maybe you are in a situation where you're not ready to spend an investment or you're not really clear about who you do want to hang around, yet You're looking for those people. I can't believe how many people go to free meetups, martin you lead.

Speaker 1: 19:56

A I host yes, I still host a meetup.

Speaker 2: 19:58

There you go. So listen, if you're in town, get on. You're probably on Martin's Instagram and email list. Go to his meetup. He's right there, it's free.

Speaker 2: 20:10

I mean a lot of it is about getting out of the house and stop making excuses, because I also have been helping a relative recently on getting started in real estate and in business building and all send emails out to him saying, hey, there's this event going on, this person is someone you really want to meet, or there's this you really want to try this. And then oftentimes I'll say, well, are you going? And they'll have an excuse and it's legitimate, like no, I'm out of town for this, this or the other. But I've got to tell you. If someone is reaching out and saying I think that this is the person you want to meet, I think this is an opportunity. I would change my calendar. I prioritize what's most important, Like if you really want to meet the people and somebody gives you a, gives you a bone, like Martin, saying like, hey, I have this meetup.

Speaker 2: 21:03

Gosh, if I wanted to meet Martin, I would fly. I would fly to his meetup, I'd buy a frequent you know, take my frequent flyer miles and I'd show up. Boy, do you think he'd be impressed? Do you think he'd give me a minute of his time? Yeah, I think this person's pretty interesting. They're very committed to what they want in their life. They're a high achiever. So you got to think about that. You got to think about where are you saying, oh, I don't know where to meet these people? Well, what are you doing about it? How are you going to create it? And sometimes I just give you a great example where it costs zero.

Speaker 2: 21:40

So get all the people out and figure out local people.

Speaker 1: 21:44

I love that you said that, tamar, because a lot of people are trying real estate on, and when I say trying it on, they only do it when it's good. Right now, real estate is not that popular, as you and I know, because of what's happening with commercial banking crisis. What's happening right now? Prices are going up, interest rates are going up, so it's not that popular. So when it's popular and it's easy, everyone wants to do it. But when things start to, when the headlines start to change and there's challenges happening, then it's not that popular. People don't want to do it.

Speaker 1: 22:16

But I want to go back to your point of you're helping someone and you said, hey, you want to meet this person. Guys, when someone that you look up to or that's trying to help you or is coaching you says to you you need to meet this person, there is a reason why they're telling you you need to meet this person, you need to be at this event. There is a reason if you're really taking your personal development and your personal growth and your growth in your business, whatever it is that you're working on, if you're really taking this serious, you will get up from your butt and you will go meet that person that your coach or the person that's telling you is telling you to go meet because there's a reason. So I want to talk to you about taxes, because you mentioned in your second key. You said tax strategy.

Speaker 1: 23:05

And then I have another question on where you're investing right now. But tax strategy, the wealthy know how to make money, but they know how to invest money, but they also know how to keep their money. That is key. What are you and or some of your friends, what are some of the top strategies that they deploy to keep their money tomorrow?

Speaker 2: 23:27

So the first thing I'll say is I am not a CPA. I am a connoisseur of tax strategy and of CPAs and I always have my CPA and recommend that you have your CPA check anything that you want to do. And generally a sign that you might either have the right CPA or the wrong CPA is if they look at you like a deer in the headlights when you present a strategy to them, or if they tell you they won't sign your tax return because they don't agree with a strategy that you have checked out and feel very strongly that you want to employ. So those are just two things. One of the one of the things that one of the key tax tax strategies that I employ is to hire a really, really good CPA, someone who looks at strategy. Maybe it's a tax strategist, sometimes clients work with me for some tax strategy and but have a CPA on team so that they can crosswalk ideas.

Speaker 2: 24:29

A lot of CPAs will just go through and do the tax return. They don't know about tax deductions, they're not that thorough, they're extremely conservative and will only take a very small number off when maybe the threshold is considerably more. So all of those things are really important. It's important to continually also grow with CPA. So if you outgrow a CPA because your income has gotten higher and higher or you've bought more real estate now and they're not your CPAs just can't keep up with the momentum that you're driving your massive action, then it's time to go shopping for a new CPA. So that's one of the first things. Your team is really important. Your CPA is critical. I pay a lot of money now in my CPA and they're really good, but I pay a lot. So that's one thing.

Speaker 2: 25:27

And then another big strategy is the real estate professional status, and you need to make sure that you are following tax codes. There is so much misinformation about real estate professionals that I have heard from different CPAs from other people that think they are real estate professionals. It's pretty clear if you look at the code what it is. The reason why you want to be a real estate professional is because it allows you to take deductions of both active and passive, meaning that if you're running the deal, you could take it off, or if you're W2, you can take it off and pass it. Now when I say if you're W2, I will say that If you're a full-time W2 employee, generally you won't be a real estate professional, because you can't claim that you do real estate full-time if you're working in other position full-time. But a lot of very couples do it where the husband or the wife really works hard in real estate to get the hours. And then the other one is a high income WTURNer. So I would definitely look into that.

Speaker 2: 26:35

And one of the third things I'll say and there's just so many but one of the third ways is through short-term rentals. So there are many incentives if you own a short-term rental. And I will also say that the short-term rental market again, like Martin said, when it was easy three years ago, everyone was buying, everyone was making money, interest rates were low and it seemed like you just could not. You could throw a stick and make money, a lot of money, in a short-term rental. It is not that way anymore.

Speaker 2: 27:08

You need to really be careful about your numbers. You need to buy right, you need to understand a range of okay ear DNA. A lot of the system that we use to kind of gauge what rents are approximately says I can make. You know, I say look at that number and then figure 25 to 40 percent down because some markets have dipped and there's a lot of competition that's gone in, so you have to really make sure you know what you're doing. That said, if you focus on it and you really want to do it, there are some nice taxes and incentives associated with that, even if you're a W2 earner. So those are just a couple ways that I would recommend.

Speaker 1: 27:50

My last question and really good tips you gave there, and I want to lead in with this Tamar is not a financial advisor in all means. Neither am I. We're just talking as friends here. You guys are getting to listen in on our conversation. What type of asset class are you excited about right now? Investing in knowing everything that's going on in the market? Right, you got commercial and the crappers you got I don't know.

Speaker 1: 28:17

There's a bunch of different data out there. I think it's four billion dollars coming in, commercial loans coming or being reset here, but from here to December. So I believe there's going to be opportunity there. Hence we talked about it. Why I'm liquidating some of my assets? Because I want to be ready to take advantage of some of those opportunities when they come. I just believe in the fundamentals. Tamar, what is exciting? You right now, and how do you vet where you're deploying your money? Right now, you're an operator and you invest passively in some deals. How do you vet and how do you pick and choose the operator you're going to go and say, yeah, I'll put my money in your deal.

Speaker 2: 28:51

So right now, martin, you had mentioned that you believe there's going to be deals coming around in the next 12 to 24 months. Nobody knows for sure, but just history doesn't generally lie Actually, history never lie so we just don't predict exactly when it's going to happen. But we know there are cycles. That's just been proven and we know that we've been up for a long time. So the cycle naturally would head down and we're seeing some of that now. So part of my strategy now is to be in a very solid cash position. I have certain vehicles that I invest in where I can make some interest, where I feel comfortable and the money is still liquid, and some of those opportunities, if you go to I believe it's Morgan Stanley has these. There's a couple of banks now that offer 5% with FDIC insured liquidity. I mean 5% is decent. We were going for 0.0001 at a certain point. So I mean you can actually, if you're not sure right now, take your money and put it in a 5% fund until you figure it out or until you see a smoking deal.

Speaker 2: 30:08

The other strategy that I'm pretty knee deep in is modular homes. So a partner and I are buying a lot of land in East Austin and putting up modular homes now. Now, as we speak, we have about 10 projects in the works, and the reason that I'm bullish on this is for is a couple reasons, and these are rules that you can also use in defining your own criteria. So one is location, location, location. So if there's population growth and there's job growth, there's going to be a decent market for real estate. So I live in Austin and I'm doing these projects in Austin, and so I feel pretty confident in the long term and the short term, with the low inventory we have, that these, these Single family homes they're single family homes, which is another thing. It's like, not like I'm buying a commercial loan. I can that have some play in terms of the, the lending we're getting? My partner also is a mortgage mortgage company, so that helps.

Speaker 2: 31:17

And I in the, the point that you want to look at is are you in a market that can sustain your strategy? One and chew is do you have enough room to Handle the bumps in the market? So, again, like Martin said, he doesn't. He's not happy about losing $40,000 and going over budget, but he's still gonna make six figures. It's still a great, great payday. So if you, if you create a scenario where you where you can build or buy or whatever your strategy is low enough when, regardless of what interest rates do, regardless of what the market does, you can still handle the bumps. Maybe you can rent, rent the places out and and make the mortgage if you have to get a loan there. If you have flexibility, then you have choices and then generally you know it's still. It's still a fairly good Strategy to follow if you can, if you can meet that those mark benchmarks for yourself.

Speaker 1: 32:21

So basically having kind of multiple strategies, multiple legs of strategies, is kind of what I'm gathering from that right.

Speaker 2: 32:27

Always, always. I mean, you know the good market. Yeah, even in the good markets I have that. And then the other thing I really like is oil, but that has anything to do is real estate. It's just that I just like it because I just think we need it. There's a shortage of it and it's just a supply and demand issue, and so I'm I'm looking more and more at oil deals. I'm invested in some, but I'll probably put some more in.

Speaker 1: 32:49

I was actually talking to someone about oil deals and About deploying some capital into some oil deals and but what I was told was they do, when you make money, you make good money, you make a lot of money, but whatever, when they bust a bus, like it's just boom or boss, like when they bust a bus, really bad.

Speaker 1: 33:09

We could talk about you and I could talk about that off air and maybe you can make some recommendations. But my last question tomorrow, which was part of the question, was how are you deciding? Because we had a conversation a few weeks ago, you and I, about some investments and some things you've done. But what have you learned and how do you decide when to invest with a particular operator is a good operator? Maybe a few things that you do as a checklist like, okay, martin's got a deal, so Martin's bringing me this deal. Checklist one, two and three, maybe two or three things you can give to a listener to decide hey, these are the things I do when I'm vetting an operator or a deal to see if the deal makes sense or if I want to deploy my own money into deal.

Speaker 2: 33:50

Absolutely. Number one is look at the track record. Have they taken projects from a to be, or is it just all a, a, a, a and they're kind of just buying and buying but they've never really executed on on anything? Two is are they willing to show me their numbers? Because sometimes people get a little shy about it and that's a red flag. And number three is I look a lot at lending terms and and seeing how they secured their, their loans. I, you know, is a little loose on a couple. I got into a couple deals that had bridge loans. Some of them are okay and some of them are struggling. So Lesson learned to me my instinct was to not invest with anyone with bridge loans. Luckily, I did go very heavily investing, but but you know you want to look at how aggressive they are and how they're looking at the market and make sure that you're in line with them.

Speaker 1: 34:49

So when you say bridge loan I just want to really quick, because we've got a few minutes left when you say bridge loan and you're saying, in this market, particularly your bridge loan, is short term debt for those that don't know, that's 12 or 24 months, that Are you looking at their exit strategy? Are you questioning and challenging like hey, what's your interest rate, what's your LTV? What's your exit strategy on your deal on this bridge? Is that what you're looking at and how they're performing and projecting that out?

Speaker 2: 35:22

Yeah, I'm looking at all of that and I'm also looking at how casual they are about oh, in three years we'll just refinance. I don't like that. I mean there's a lot of room. I mean you know how that goes right. He's laughing because Martin actually had a deal that went very, very well, where that was the strategy. But he checked another box, which was that he bought at the right price.

Speaker 1: 35:45

Yeah.

Speaker 2: 35:46

Yeah, a lot of room.

Speaker 1: 35:47

Well, I'm laughing because, if you recall, on our deal the one that we did, right, yeah, we bought very well, but we bought it in January I don't know if you remember we had an investor's meeting or if you watched the video. We had an investor's meeting and Danielle was joking about it. She was like Martin in February, the month after we bought it, he was already talking to banks about refinancing the property because I'm just constantly paranoid and making sure I'm protecting my downside at all the time for my investors. And she was joking about it and the lenders were laughing at me. They were like you just bought it.

Speaker 1: 36:23

I was like, yeah, I know I bought it, but I'm going to execute, I'm going to do this. There's no question in my mind. I'm going to have this. She was laughing about it because it also took us a long time to get it done, because we executed so quickly that by the time we executed, the lenders they couldn't believe we executed that quickly and that it was going to be sustainable. They were like, how did you do it so quickly? It's because I'm a maniac when it comes to execution. That's why, because, when I put my mind to something-.

Speaker 2: 36:52

If you want to be successful at real estate, be a maniac.

Speaker 1: 36:56

I just stopped when I put it in my head that I'm going to do something. I just do it until it's done. My friend, thank you so much for coming on. It was my pleasure to have you. It's always a blast to talk with you and listen to you and learn from you and get all your strategies. We're going to go into the Untitled Round where we're going to ask you a series of questions. It could be one word you could justify if you want. You don't have to, if you don't want to, are you ready to play?

Speaker 2: 37:25

Yes, let's play. Okay, let's go Real estate is Incredible opportunity to grow wealth.

Speaker 1: 37:32

My advice to all women is-.

Speaker 2: 37:35

Give your fullest vision of your best life and know that you can do anything.

Speaker 1: 37:41

I've always wanted to travel to-.

Speaker 2: 37:43

Japan and Alaska.

Speaker 1: 37:47

People coming to Austin, texas, should try.

Speaker 2: 37:50

They should try the brisket and the barbecue.

Speaker 1: 37:56

There is a place down there. When I was there tomorrow, a famous place down there in Austin, that's got a great You'll know it, it's one of the famous places downtown in Austin. It was a great barbecue, great brisket. A million dollars is-.

Speaker 2: 38:13

Just the beginning.

Speaker 1: 38:15

I think the president right now is-.

Speaker 2: 38:17

Soft.

Speaker 1: 38:18

Family or business.

Speaker 2: 38:20

I'm waiting way too long to answer that one. I would say family.

Speaker 1: 38:27

Passion or stability. Passion, more time or more money. More time Work smart or street smart. Street smart Wine or beer Wine. And lastly, angry client or angry coworker.

Speaker 2: 38:43

Neither I don't do angry Fantastic.

Speaker 1: 38:45

My turn. Thank you so much for coming on. If people wanted to connect with you on your Instagram, they wanted to maybe join your mastermind, your women's coaching group. Maybe they wanted to get your book. How can people find you, my dear? Where can they find you? How can they connect with you? How can they call you Like hey, I want to be your friend tomorrow. I want to be in your network. I want to join your mastermind. Where do they find you?

Speaker 2: 39:09

Awesome. So the Instagram is tamarhermays h-e-r-m-e-s. Tamarbookcom is the book and wealth building concierge is the website.

Speaker 1: 39:22

Fantastic, my dear, thank you so much I really appreciate it.

Speaker 2: 39:26

Thank you for having me no-transcript.