The Norris Group Real Estate Podcast

Niches Within Niches: Scaling in Self-Storage Real Estate with Joe Downs | Part 1 #921

• The Norris Group, Craig Evans

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In this episode, Craig sits down with Joe Downs, CEO of Belrose Asset Management and co-founder of The Belrose Group. Joe shares his journey from early entrepreneurship to building a real estate investment firm focused on high-yield, niche opportunities—especially in the self-storage and distressed mortgage sectors. Tune in as we explore how Belrose identifies value others miss, their strategic approach to scaling, and Joe’s insights for investors looking to break into specialized asset classes.


Joe is a lifelong entrepreneur with a track record of success across the securities, mortgage, hospitality, and real estate industries. As co-founder and CEO of The Belrose Group, he’s built a powerhouse firm specializing in the self-storage sector of commercial real estate—expanding it from acquisitions to include development and consulting. Known for spotting “niches within niches,” Joe brings a sharp eye for opportunity and a passion for educating others. He’s a featured speaker at the Self-Storage Academy and Mastermind, where he shares his insights as both a visionary leader and a hands-on investor.



In this episode:

  • Craig Evans welcomes Joe Downs, CEO and co-founder of The Belrose Group, a leader in self-storage real estate investingJoe shares insights into his personal background, family values, and what shaped his entrepreneurial mindset.
  • A look into Joe’s early years, formative experiences, and the lessons he learned growing up.
  • Joe walks us through his career journey—from first jobs to key milestones that led him toward business leadership.
  • The pivotal moment when Joe transitioned into real estate and launched his path as a serial entrepreneur.




The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


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Narrator:

Welcome to The Norris Group real estate podcast, a show committed to bringing you insights from thought leaders shaping the real estate industry. In each episode, we'll dive into conversations with industry experts and local insiders, all aimed at helping you thrive in an ever-changing real estate market. continuing the legacy that Bruce Norris created, sharing valuable knowledge, and empowering you on your real estate journey. Whether you're a seasoned pro or a newcomer, this is your go-to source for insider tips, market trends and success strategies. Here's your host, Craig Evans.

Craig Evans:

Hey everybody, it's Craig Evans with The Norris Group. Super excited to be back on today. We got Joe downs, the CEO of Belrose Group. Joe is a lifelong entrepreneur with business ventures spanning securities, mortgage, hospitality and real estate industries. He co-founded the bellrose group to pursue opportunities within the niche Self Storage sector of commercial real estate. He's actively involved in the growth and management of the organization, and under his direction, the firm has evolved from traditional Self Storage acquisition investment and expanded into including development and now consulting divisions. Joe is a penchant for finding niches within niches and identifying opportunities that are unseen to others. He dedicates time to researching and educating himself on select lesser known industries and welcomes the opportunity to share his knowledge and experience with others. In his position as CEO, Joe serves as a visionary and embodies a servant leadership approach. He encourages The Bellrose team to be a collaborative and innovative team in their respective departments and contribute ideas and suggestions across all areas of the firm. Joe loves nothing more than connecting with people and where possible, helping them achieve specific goals. He serves as a facilitator and educator through the Self Storage Academy and mastermind, where he is regularly featured as an expert speaker on the asset class. Joe has a BS from Villanova University. It's hard for me to say as a UNC fan, but he's got a BS from Villanova University. Joe man, it is an honor to have you on today. Thank you so much for coming on, my friend.

Joe Downs:

Craig, it's so great to be here. You know, it's funny about listening to that intro is you listen to and you go, you know, just don't write it yourself. Your staff wrote it. Wonder if all this is true. We were, we had weird Memorial Day weekend. We were we had my daughter and her friends over for dinner and we were going around the table asking, What do your parents do? And then we got to mind, what do your parents do? Let's hear it.

Craig Evans:

Well, listen. Thank you so much for coming on today. You know, it's interesting. This is why I was excited. Joe and I were talking about doing this and the focus and the sector that you're in is a little different than what most of our investors deal in right? It's a little different than what they do. Very familiar with storage. I've actually got one of my best friends that we used to be in business together. We had 1000s of doors that we own together. Sold that portfolio off, and now he's in self storage as well. So, but you know, for most of the investors that follow The Norris Group and and DBL Capital, and everything that we do the sort the storage space is a little outside of their specter. So we really wanted to make people aware of the space. Part of what we do is we always, you know, teach and preach to our investors about pivots and finding inefficiencies in the housing market, and what are some of the ways that you can pivot, right? So with the barrier to entry sometimes being a little high in California. I believe this may be a way to pivot, or at least to add diversification into somebody's portfolio. But I say all that to say, you know, one of the things, when somebody is new to our to our podcast and our audience, if it's okay, I really like to dive in and just to get to know the people a little bit, right? That's one of the things we can all talk investing. But once you start to understand the personality and the relationship of who people are, that's a big thing for us. So if you don't mind, I want to dive into a little bit of who is Joe downs is. If that's alright?

Joe Downs:

Yeah, absolutely alright.

Craig Evans:

So, so you know, Joey does a lot of work for us in doing history and digging in. So, you know, I don't know what all he's given us here. You know, if he's talking about a past girlfriend or something, I don't blame that on me, okay, so.

Joe Downs:

Remember when I said, nothing's off limits.

Craig Evans:

Yeah, actually. So, so listen, I know you come from a big family. And, from what I'm told, it's not like that. You're one of three or one of five, or something like that. So tell our audience, how many brothers and sisters do you have?

Joe Downs:

Well, that's some, that's some good digging you guys did, um, so I'm one of I would not have had me. I have three kids myself. I'm the fifth of twelve.

Craig Evans:

12? Wow.

Joe Downs:

Eight sisters, Three brothers. Yeah. I know all their names, I know all their birthdays. These are some of the questions we were asked growing up. Do you know all their names? You have 11 friends?

Craig Evans:

Well, well, I will say, when Joey told me all that, I'll say you're the first person I've ever met that has my dad beat. He's the baby of nine.

Joe Downs:

Nine?

Craig Evans:

And when I'm talking about this, everybody's like, they can't believe it. And so when Joey told me you were one of 12, Wow.

Joe Downs:

We had nine at one time.

Craig Evans:

Yeah, one boy. You know, I know some some other interesting facts, though, that we found out about you, and it kind of ties home with my wife's family and stuff. So I know you're an army brat.

Joe Downs:

Yeah, I was just about to say I'm an Army brat.

Craig Evans:

Yeah.

Joe Downs:

Clean Texas, Fort Hood.

Craig Evans:

Okay, all right, so, but with that use, if I'm understanding correctly, you spent most of your time in Philadelphia. Is that correct?

Joe Downs:

Yeah, so I was born at Fort Hood, and for any of you people listening, you think, well, maybe he's a Cowboys fan. No. I'm an Eagles fan. Let's see maybe the worst thing you could hear.

Craig Evans:

We won't hold that against you today.

Joe Downs:

We moved, so my dad was obviously in the military. We moved from Fort Hood to Fort Monmouth, New Jersey. I mean, I think I was in Texas for nine months or a year, maybe, and moved to Fort Monmouth, which weren't there very long either. Then to the only I'll say this, and I'm sure someone will correct me, but as far as I know, the coolest base the army has is in Schofield Barracks, Hawaii. So I actually lived there for three years. Those are my, so I was 4, 5, and six, or three, four and five, somewhere in there, three, four and five. So my first memories of life, like your oldest memories, you can dig back to, mine are Hawaii, which is pretty cool. You know, literally picking bananas off the banana tree outside the kitchen windows.

Craig Evans:

Yeah, that's pretty good.

Joe Downs:

And then we, then he was transferred to the Pentagon. So we were in Haymarket, Virginia for about two years, maybe. And then I should have given you who was born where to number eight was born, there and then. And then we moved to pretty much, actually, a half a mile from where I live right now. So I didn't go far. Both my parents are from the suburbs of Philly, and we ended up living two houses away from my dad grew up and he commuted to Fort Monmouth again from the Philadelphia suburbs, only hour and 20 minute ride, but that's where we settled down, because he was nearing the end of his career. So he was, he knew he was going to retire. They get the 20 year mark. He was a major, and he was pretty, pretty decorated and as it was, even as only major. He saw, you know well, did two tours in Vietnam and flew helicopters in and out of combat zones. So he was pretty put it this way. And fortunately, my mom passed recently December, and they she wanted to be buried in Arlington, and everyone was'you're not getting into Arlington. That's for the generals and Kennedy's. You can't get into Arlington.' She's in Arlington.

Craig Evans:

That's pretty cool. That's pretty awesome. Yeah, I could sit and tell stories about that all day and listen to those because we've got a lot of military in our family, so to hear hear those stories is pretty cool, man.

Joe Downs:

I'm just the brat though. I enjoy my USAA that Well, so, so what was it like growing up in Philly? Getting will never have. some cheesesteaks and everything? When I was six and seven? Yeah, you know, breakfast, lunch or dinner? Yeah, it was, you know, it's probably like growing up. Where'd you grow? Probably no different.

Craig Evans:

I was in Georgia. Yeah, Georgia I had a lot less snow than you did so.

Joe Downs:

Well, okay, fair enough. You know what's funny too, is the seasons change. You always see yourself. Why do we live here? Because we have what we call the 12 seasons of Philadelphia. There's like, false fall and fake spring. And, you know, it'll be 80 degrees one day in May, and then it'll be, you know, 42 days later, and maybe a threat of snow or something. That's, it's not but, but all in all, look, um, it's all I know I was seven, right? It really, other than picking bananas off a tree in Hawaii and you know, running around in Virginia, it's really all I know. I gotta tell you, Philly is a great place to live. You're an hour and a half from the beach or an hour and a half from skiing, you're two hours from New York, you're, you know, a couple hours from DC and Baltimore, if you want. And you know, there's a lot that life has to offer here. It's a great town. And, you know, I don't know, defending Super Bowl champions never hurts.

Craig Evans:

Depending on the year, it could be fun at football season, right?

Joe Downs:

And it's true. It's true. We live and die by it.

Craig Evans:

Oh, man.

Joe Downs:

I think it's probably not unlike growing up most places outside of a major city, but I do like it. Here's a lot to offer that said, as you get older, you know, we're talking about moving south because of the weather, you know, it does

Craig Evans:

Yeah. get cold.

Joe Downs:

Yeah, we get the, we don't just get four seasons, like I said, we get 12. We get every possible what, but the same time, you know, you're sitting there in what you say, Southwest Florida?

Craig Evans:

Yep, Fort Myers, Florida.

Joe Downs:

Right. Beautiful place, loved it. We never have a hurricane issue up here, right? Tropical squirm when it gets to us. We don't get tornadoes. We don't get, you know,

Craig Evans:

Yeah, everybody's got something, right? What was your vision? What did you want to grow up and be? Were you did you want to be that soldier? Did you want to be the airplane pilot? Or, when did you start thinking about business?

Joe Downs:

No, you know, I wasn't like a, I wasn't an anarchist, but I was definitely not going in the military. Just, I mean, more to do with my dad than anything else. But I, I don't know. I just no one was going to tell me where I had to be and what I had to do. I'm, you know. Again, it wasn't, it didn't guide me, but it was just, you know, it was just there. It was just, yeah, it was more of a that's not the past for me.

Craig Evans:

Yeah.

Joe Downs:

And, you know, did I know I wanted to be an entrepreneur? I don't even knew what an entrepreneur was, to be honest, I just I, but I was one without realizing it. And I've said that recently. I, you know, I was a kid who's breaking laugh and selling kindling. You know, when I was 10, 11, years old, I was shoveling driveways. I mean, my parents kind of pushed me out the door, but we all, there was a lot of us. So if you wanted, if you wanted to buy a pack of gum out of the, you know, machine, or whatever, you kind of needed your own money, because there wasn't any money. It was funny. We grew up on the main line, which is a very wealthy part of Philadelphia, but we were the poorest people. My mom used to joke, you know, 1% of the, wait, the wealthiest 1% lives around the corner, but we're not it. So, you know, you know, you kind of had to work at caddied growing up Brook golf club. From the time I was 14 to 20, 21 somewhere in there, I paid for my high school into a Jesuit High School in Philadelphia. So just prep. I paid for it because it was a private school. I paid for it by Caddying. I mean, I get, you know, financial aid and stuff. But I always had two jobs that ended up in store, ended up in, you know, here, obviously, but even prior to this, because I was always working two jobs, and sure enough, now I have two companies, you know, one's in storage and one's interesting.

Craig Evans:

Yep.

Joe Downs:

I'm thinking about slowing down soon, but yeah, it's just, hey, you know, if people ask, 'What's it like growing up in a big family?' It's what I knew. I'm enjoying silence and peacefulness today, but when I was 14, I needed chaos around me to concentrate on my homework. Yeah, it's just what it was the environment I was comfortable in, and that's what I knew. So I always need something going on, and I can't sit on a beach, and it's tough for me to sit on the beach and read a book, although, as I'm 51 now, now I'm seeing man, there's something to all this peacefulness and stress.

Craig Evans:

Sorry. So let me ask you. So you know, like we talked about, my dad was a baby of nine, right? And I've heard him tell stories. And, you know, brothers coming back from war, some came back from worn caskets, and just the whole process of life with that many family members, right? And who, some of the brothers and sisters, the siblings, who those were that took leadership roles, who didn't those types of things. Did you have any of that in your family? I mean, was there any brothers or sisters that kind of took a secondary role of that with that many kids of trying to say?

Joe Downs:

Yeah, my two oldest sisters, you know, practically raised half the family. I think my oldest sister, who's only like, six years older than me, was changing not all the time, but change my diapers.

Craig Evans:

Yeah.

Joe Downs:

I've changed many of my younger siblings diapers, but the two oldest ones certainly were heavily involved in the, you know, babysitting, if you will, raising of us and then I'm

Craig Evans:

Right? I promise. the oldest boy, so I've, you know, kind assume you know some of that leadership mantle as well throughout the years. And I know it's interesting, it's really prepared me well for life, from from being a parent. I mean, I, you know, I kind of saw it all. I was a kid myself, but also saw everything around me in different decades, even, right? So that the older kids what they couldn't get away with, and then the younger kids what you could work with. And you know, so there was that, then there was also, you, really, am I on the right podcast here?

Joe Downs:

Is this an intervention?

Craig Evans:

Yeah.

Joe Downs:

But my, you know, my dad was also his dad was in construction. So we lived in a nine bedroom Victorian house because there were so many kids. But it was house. They couldn't afford it, so he tore it apart. It was an old, you know, old, really old house, and he'd work toward apart, put it back together, literally down to the studs. And I had to help with that which made my childhood, not very fun, but, my goodness, all the skills I have today. You know that most people don't, you know, like I put my ring together. I wired it with, you know, electrically I mean, I had help in where I needed.

Craig Evans:

Sure.

Joe Downs:

Wired it. I had helped putting up the drywall. I taped and seemed it myself, sanded it, painted it, you know, you wanted privacy. You wanted your room.

Craig Evans:

Had to do it.

Joe Downs:

Like one dad to do it also. So you can only go one room at a time. And the girls rooms were getting the attention, and I was like,'Well, I'd like a room, please'.

Craig Evans:

Well, and you know, part of why I go into this right, is I want people to see, I want our audience to see that everybody doesn't start out at the top, right. We don't always start out with a silver spoon. Many of us don't. You know many of us, I mean, Joe, I can't tell you how much-

Joe Downs:

Most of us don't.

Craig Evans:

Most of us don't.

Joe Downs:

Most of us make it is because we had to learn early how to fight claw, scratch, whatever the nickel and the nickel in the quarter and quarter to the dollar and so on.

Craig Evans:

Yeah. I mean, I didn't have it was just myself and my sister. You know, we only had two of us, but still our our stories, as far as what we were doing and how we're growing, they're aligning a lot of things alike. And the reality is, just like you said, I hear that so often, of people that have been successful and grown into that they've done it because they they pulled themselves up and continued to gut it out, you know, so.

Joe Downs:

By the way, multiple, in my case, and I'm sure in yours and others, multiple times. And it's, you know, if I can use another movie or a Philly reference, but I'll use a movie and Rocky Balboa, it's, you know, is, I'll butcher the line. But this famous line is,'it's not about, you know, getting knocked down. It's about, it's about getting back up.' It's not about how hard your head. It's about, you know, how hard you come back or whatever. That's what you sounds like, you had to learn how to do I had to learn how to many people I know, many successful people I know, that's the reason they're successful because they've dealt with adversity and loss and failure and learn from it. And if I think unfortunately, that's what a lot of today's kids aren't experiencing, is everything is helicoptered, and all the the paths are paved for perfect success, and if, even if not perfect success, it's okay, because Mommy and Dad, are you here to make it all better for you? And you know you're seeing it out in society. You're certainly seeing generations in the workforce. I mean, just kids don't understand failure. I mean, entrepreneurs are, I think it's a dying breed, because no one wants to fail.

Craig Evans:

And they're looking for their trophy that they participated.

Joe Downs:

It's trophy for sure.

Craig Evans:

Well, you know, I know we've talked a little bit about basketball and joked a little bit about that. But, you know, I know that your Wildcats, you've got your Villanova shirt on today, so I know that your Wildcats were always in the news and March Madness and that whole, or at least they used to be right for a time.

Joe Downs:

A couple of years.

Craig Evans:

But, you know, I mean, listen, we've had a lot of things happen for there, right? You've got the first American pope that's now an that's his alma mater, right? And you know his face will be on the signs in the student section now, but if I'm understanding correctly, you majored in finance at Villanova. So, so tell me what your first job was coming out of college?

Joe Downs:

Not finance. I was, by the way, the first text I got, when it was announced who the Pope, was from a brother in law. I said, 'Do you think the Pope's been to Wawa?' Now I don't know where your audience is. It sounds mostly California, but Wawa is a huge I don't know if you know what it is. There's more wawas in Florida than in Pennsylvania.

Craig Evans:

My daughter loves their barbecue chicken quesadilla. I'm like, so like, gas station. Are you kidding me?

Joe Downs:

It's not just to get, by the way, when Wawa started here, they wouldn't have gas stations. They were just convenience stores.

Craig Evans:

Really.

Joe Downs:

Yeah. Now the new models the gas station, but all the old Wawa's appear we don't have gas stations. That are the wild was I go to every day, are not gas stations?

Craig Evans:

Wow.

Joe Downs:

First job was a technology company called Elcom technologies. The ticker symbol was ELCM, and we were going public until we weren't. We were going to be rich. It was a, boy, what a case study in potential and failure based on leadership. But it was a new technology that was broadcasting signals, whether they're audio signals or video signals, over the power line in your house. So the year is 1996, 97 somewhere in there. And you know, Wi Fi doesn't exist. And by the way, Wi Fi is a pipe dream that will never happen. It will never, ever happen this in 1997 because there's too much bandwidth to communicate, to project and receive or transmit and receive over the airways. It's not possible, just so you know, and that's therefore our technology was the only technology that was going to work and it did in a closed environment, and they ordered a whole bunch of the products from Malaysia. We were in Best Buy CompUSA. I'm going to give you some old stores that don't exist with this restaurant, comp USA, Circuit City. We were at all the stores, and then all of the, oh, and I was on the business development team. So we were, it was really more marketing. We were designing the customer information booklets. So when you buy a product that comes with the How to booklet, we I designed those. We went step by step with, this is a product. And then, unfortunately, this is kind of a funny story I'll tell real quick when we then realized, well, you got to set up a customer service department for when people call in, because they don't add up these things up because there was a transmitter and a receiver. So you remember back then we were online. America was online, literally and but your computer wasn't you where you wanted. Your computer wasn't where your phone was. So you had to call the company, the phone company, come out, run a new jack that would cost you a couple 100 bucks, or you could buy for 79 bucks, easy, what was that one called the easy on, easy online. And you you plug it in by your phone, and then you plug it in where the computer is, and transmits the telephone signal at a solid 56 six, at least, across the telephone line to your computer. And then boom, now you can put your computer wherever you have an outlet, which obviously you need anyway, and life is good, and the computer worked fine. It was the it was the easy TV where they were broadcasting video for the same purpose, right? You want a TV in this room and not, you know, in the cables over there, the video quality wasn't very good. In either case, when people would call in, we had to establish the first customer information, or customer service, sorry, customer service, help desk, right? And you know how there's, there's jokes about, you've heard the jokes about the Hey, Ma'am, my computer's not working. Is it plugged in, right? That literally happens. I have fielded those calls. We're like, you gotta plug it in the wall. America's online, but not bright.

Craig Evans:

Yeah, that's true. That is definitely true.

Joe Downs:

So, yeah. So that was my first job that company. The writing was on the wall when the return started coming in left to right, and I was, oh, well, we're going public. And then, you know, sure enough, they're bankrupt. I left there. I took a job as a financial advisor. I didn't know the first thing about it. My buddy was working in American Express, or was applying for a job at American Express financial advisors. His buddy was working there and said they're hiring you guys should come over here and learn how to become a financial advisor. Sounded great. Some of the wealthiest guys I knew were financial advisors, portfolio, whatever, stock brokers, I guess, back then. And you know, some of my friends dads, I should say, were that were wealthy. And it seemed like a great opportunity. And more in line with finance and you know, so that's what I did for seven, seven or so years.

Craig Evans:

So, so when did you get out of the technology sector, then.

Joe Downs:

I was only there a year and a half, maybe.

Craig Evans:

Okay, okay. So, so you were in finance then. So if that started '96 that would have run you in maybe through 911 somewhere in there?

Joe Downs:

Exactly right, just after, because 911 is when I decided I no longer wanted to be in the business. It was that week, actually, in that week, you know

Craig Evans:

Okay. the not because no Stolen Valor here, not because I lost a loved one in the towers or anything like that. You know, lucky, luckily, I only knew distantly one person. But it wasn't so much that it was everything you were done and trained to do and learned how to do, to advise, let's say you as my client, Craig, when an event like that happened. And we had other events. We also had lifters.com, bust right before that, you had these events, these where the market just swings wildly. People are upset. I'm still a kid, really, right? I'm 20 something years late 20s. I'm not 50 years experience in the market to say, hey, settle down. I've seen this because I haven't seen this a million times, and it just it never felt right. I didn't feel good. Everything I was I was trained to do and learn how to do, and was told to do, just felt like bullshit, to be honest with you. And and they would give reasons. They still do it today. I still laugh when I hear, 'Oh, the market, the market took a hit today because the consumer price index or exceeded expectations.' So well, how does that make sense, right? And because it's all priced in and, you know, just not, you don't, there's no you have no chance to win if you're just a regular. I mean, you, you do? You get lucky. You timed it right, and in you didn't time it right. Your timing of your life. Got lucky in that it was timed right. So and then I saw it again. If I can skip into when I was in commercial real estate. Yeah.

Joe Downs:

In the 2007 2008 really, '08, '09. I saw I was, I was in alternative investments, raising capital for commercial real estate, 1031, exchanges, mostly, but also other alternative investments. And I just saw people, I'm long out of, of being a financial advisor. I skipped six or seven years, which were interesting. Go back to if you want, but staying with the point, I saw people whose retirements were cut in half. I was doing presentations in front of them. They were looking at investing in alternative investment, real estate to investment, real estate deals and or distressed debt deals or whatever. And you talk to them, and their portfolios were just decimated in 2008 and they were expecting to retire and or live, you know, go on those cruises or do and I just man you no matter what, you can't have that much exposure. And most people have 100% exposure.

Craig Evans:

Yep.

Joe Downs:

I said to myself and everyone I talk, you cannot have that much exposure to the stock market, because I think it's important in terms of diversification, to have some money in there. And by the way, most people do in your 401(k )is if you're working a nine to five job, that's plenty of exposure.

Craig Evans:

Yep.

Joe Downs:

And my wife goes back and forth me, well, what about our retirement dollars? What is,who cares whether it's a in an IRA or 401(k) or cash? That's a tax implication, and that's a strategy we'll deal with at that time. And we don't even know what the rules will be at that time, because we're going to be five congresses, 10 congresses from now, and who knows, you know what the rules will be. So to me, it's about the exposure to the market, not the risk of the tax deferred nature. And I know things can grow tax deferred, but there's plenty of ways to grow your money tax deferred, and real estate's another one, so.

Craig Evans:

Yep.

Joe Downs:

I'm being a former financial advisor, like, say, recovering financial advisor.

Craig Evans:

Yeah, you're gonna ask people, I go off into markets quite a bit on my tops of stuff, you know, because I'm, I pay a lot of attention to what's going on in the markets. And as you say, all the, to use my good old southern slang, you know, all the hogwash that a lot of these guys put out, the talk they put out about. It's like, come on, there's, there's a lot of this. It's just, ;et's look at some common sense stuff here.

Joe Downs:

...the guy, the guy's always wrong.

Craig Evans:

Yeah.

Joe Downs:

You could, you probably run a fund just by doing the opposite of what you recognize.

Craig Evans:

All right, that's going to do it today for part one with Joe downs. Make sure and tune in next week for part two,

Narrator:

For more information on hard money loans, trust deed investing, and upcoming events with The Norris group. Check out thenorrisgroup.com. For more information on passive investing through the DBL Capital Real Estate Investment Fund, please visit dblapital.com.

Joey Romero:

The Norris Group originates and services loans in California and Florida under California DRE license 01219911. Florida mortgage lender license 1577 and NMLS license 1623669. For more information on hard money lending go to thenorrisgroup.com and click the hard money tab.