Ep 181 - From Military to Multifamily: One Man's Journey to Financial Freedom with Pete Turner

 Meet Pete Turner, a retired military officer turned multifamily real estate investor. After serving over 20 years in the military, Pete made the transition to corporate and eventually discovered his passion for partnering with professionals to achieve financial security through multifamily real estate.

In this episode, you'll learn:
👉How Pete got started in multifamily real estate coming from a military and corporate background
👉Pete's creative strategy for acquiring his first investment properties
👉The importance of networking and authentic relationships in the multifamily space
👉What Pete looks for when evaluating potential multifamily acquisitions
👉Tips for mitigating risk when bringing on investment partners

If you're looking to build wealth through multifamily real estate, you won't want to miss Pete's story and insights on this episode of the podcast.

Tune in to hear how networking, creativity, and persistence helped Pete unlock passive income streams and financial freedom through multifamily syndications.


Connect with Pete thru the social link below and learn more about his business:
Website: www.capitalturners.com

Unlock 3+1 degrees of freedom (time, location, financial + health) with our 5-Point Blueprint! https://elevateequity.org/podcastgift

If you really enjoyed this content and are looking for more, you can continue to learn more about us in several different places for free!

• on our website for blogs & other podcast interviews! elevateequity.org
• our YouTube channel! youtube.com/channel/derekclifford
• our book/audiobook! amazon.com/dp/ebook

If you'd like to have a FREE copy of our 7 Ways Commercial Real Estate Syndications Protect and Build Wealth, simply click the link below. We are here and vested in your long-term success! elevateequity.org/7waysEbook

Transcript

0:01

Welcome to the three degrees of freedom podcast, where we explore lifestyle engineering with our expert guests to bring you in alignment with your own three degrees of freedom, location, time, and financial independence.

Derek: 0:14

Hello, everyone. Welcome back to the show. Today. We've got Mr. Pete Turner. He joins us on the podcast and Pete after over 20 years of military service and a corporate safety career focuses on partnering with professionals to achieve financial security through multifamily real estate. He's compelled by his passion for providing passive investment opportunities and Pete helps individuals and his families acquire multi. Family assets via syndications. He's known for networking and for authenticity, and he continuously seeks new avenues to help others attain the freedom of passive income. Pete, it's so great to have you on the show. How are you today?

Peter: 0:53

Great to be here, Derek. Thanks

Derek: 0:55

Of course. Of course. So as we're going to start like we always do with every one of our guests, which is asking you which of the three degrees of freedom, vocation, time, or financial, do you feel that you're the strongest in right now? And which one do you want to develop further?

Peter: 1:10

Yeah, I would say strongest category of those three fantastic categories would be financial freedom. And if you want me to expound on that a bit just building up passive income real estate we own and manage some properties and getting that cashflow going and being able to step away from corporate, which is more of my story. I'll get into it.

Derek: 1:31

Sounds good. And can you tell us a little bit about which one you want to go more into or the one that you want to. Like really start developing more.

Peter: 1:40

Yes, Derek. Yes. My wife and I, my wife's name is Katrina. We're very interested in tuning up the location freedom and we were planning a lot of travel this year, actually. So in the past, I did work remote some of the times and it's just really different when you're working for yourself, you're on vacation and you don't have to really check in on teams and things like that. All those extra duties.

Derek: 2:05

Yeah, I know it's a little bit easier to manage on your own, but there's also the responsibility of not being chained to your desk while you're traveling, right? That's the double edged sword that comes with that. So let's talk a little bit about how you first got into multifamily real estate investing. Because I know that in your bio you mentioned. Military. By the way, thank you for all of your service. We appreciate that. Thanks. It was great for me and my family. Of course. And then you transitioned into corporate and then you found yourself either through the corporate venture or after the corporate into real estate investing for your financial, your time and your location freedom. So can you talk a little bit about the whole journey there?

Peter: 2:46

The entire journey? I would just say that you are the people you keep around you. And I was recently in my second marriage, which is 2021. We just celebrated our anniversary yesterday. So it's been three years. We got married during COVID and I go right to marriage because I was so interested in real estate, Derek, as a young man in my twenties. And at that time, there was like no internet. You went to the library, read some books and my wife at the time. Ordered like the landlord tenant handbook for the state we're living in so I was born and raised in Rhode Island and I live just south of Boston, Massachusetts, but we get that landlord tenant handbook. And my wife at the time was looking at it all from the negative. Oh, they can't pay us. Won't be able to get them out. We'll have to evict. And that really I hung up my landlord keys. In dreams of being a landlord at that moment, and I just put it off. And then so many years later I had been divorced, and I had, adult children, and I was coming close to retiring in the military. And this is actually fast forward all the way to 2018. And, you cannot necessarily pick the day that you retire from the military. You have an idea. And you definitely can't pick the day you're closing because my first four townhouses that I bought as an investment property ended up closing on the same day that I retired from the military. So my last day in the army was my first day as a landlord.

Derek: 4:17

Yeah. So talk about real quick transitions there. That's pretty pretty amazing.

Peter: 4:23

Yeah. Yeah. Yeah. It was great. I was hooked on, I was hooked on real estate from that moment because. I was active duty for a long time. I had left active duty in 2016. I stayed in the National Guard, which people may hear about the Guard and Reserve, it's one weekend a month, two weeks a year, maybe a little bit more. And I stayed there from 2016 to 2018. So part time and I was retiring in that November of 2018. And I ended up buying that townhouse and. That one building, even though it was in disrepair and had bad tenants and had a vacancy it wasn't even a couple of months of operating it, that one deal, Derek, just that one deal, replaced my National Guard pay, so my part time pay from the National Guard, and replaced my annual training pay, so that one property. That property now it's doing great. I kept it. I can't get rid of it. It's this 19, late 1970s, early 1980s build. It looks like a raised ranch, but it's a kind of a colonial raised ranch. It's got four separate units in it, and it has these It has these awnings on it that's built in and roofed like the old seventies buildings. It's got shingles on it. Yeah. And the kids and I call it the ugly nose house. So the ugly nose house is where I started. And when we get the roof done, I kept the ugly noses because it's like, who wants to get dripped on when they're opening the door? The ugly nose house is where it started retiring from the military. Ugly nose house. That's 2018. Yeah. Very neat. So that was going forward. Yeah.

Derek: 5:56

Five years ago. That was only five years ago. Amazing. Yes.

Peter: 5:59

Yeah. Yeah. More on that. Let me just go into the next phase. So that's 2018. So now. I don't have this extra burden on the weekends where I have to lead soldiers in the field and, train and come up with things. And I had this extra time and it was in 2019 that I was attending in April. I was attending a real estate training seminar that was through my local RIA. I had been a RIA. Oh, geez. I had probably been a real since 2012, taking no action, just showing up to meetings, just listening, learning, and I'm hearing everyone around me. Everyone is saying, oh, it's such a terrible time to buy, beginners, elders in the group. They've been around a while. It's terrible time to buy. It was so great in 20, 2010, 2011, 2012. It was so great. Oh, it's so terrible now. Can't find any deals. Derek, I have bought, my wife and I have bought everything we own we have bought since 2018. It all cash flows, it all makes sense. Even during COVID we were buying stuff and more importantly, going back to that spring weekend when I went to that real estate training seminar I found the best deal in real estate. I met my wife there. We met in person at that seminar.

Derek: 7:18

Real estate's got literally a special place in your heart, doesn't it? That's pretty amazing. Oh yeah.

Peter: 7:23

And the catch is, Derek, I would have been at National Guard drill that weekend had I not retired. I would have been working. I wouldn't have been able to attend that class.

Derek: 7:31

Yeah that's pretty life changing stuff. So let's back up just a little bit more and RIAs that you went to. Obviously there must have been something that attracted you towards it. So maybe there's some folks out there that are working a W 2 job or, they're doing a a high paid, consulting 1099 type situation or something like that. But basically they're stuck. And can you talk a little bit more about what it is about this type of real estate investing that attracted you to building your degrees of freedom for that particular person? Cause you were that particular person. What was it? The

Peter: 8:04

particular, yeah, I was a total newbie. I was a total beginner. I didn't have anything except single family. I went to learn about real estate. ARIA is a real estate investment group or agency. They call different things in different parts of the country, but this is a group. It was pretty much, almost free to attend. I think now they charge 100 a year for membership. And once you renew, it's 60. So it's a very good group. They're beginners there. They have special sessions for beginner night. I would attend everything I could and learning everything I could. It's really just about being around people that are doing it, building up my own confidence to actually, put offers in on properties and know, know what makes sense, back then, I think the only thing I was going by was like the 1 percent rule, which for anybody who doesn't know what that is, that's if the house is a hundred thousand, your rent should be a thousand bucks a month, that's what I was looking at. With this one, I know that it's going to sound incredible to your listeners, but the ugly nose house was in disrepair. It was rough. This gentleman built it. We'll just call him Frank. Cause that might be his first name. But he was interesting. You hear landlords phrase this, different derogatory terms and stuff. Frank was just an old school landlord. However, people were taking advantage of him and his nephew moved in. And his nephew actually collected the rent in cash each week by knocking on the door. And I'm like, I cannot do this. I have to convert these people to monthly. I have to get them to pay online eventually or at the bank. And that's what we did. But Frank just ran a real simple operation. Cash collections every week. He didn't care too much who he put in there or why. He just was there and his nephew was there. To collect. So it's an interesting arrangement for Frank. I found out years later from the city that and the neighbors that they thought Frank was building a duplex. He managed to make it a fourplex. Oh, my God. Yeah, he designed the place. Great. All the utilities and everything on the 1st floor, the 2nd floor has 2 beds. There's no bath up there. No plumbing. It's all electric heat. It's very efficient. There's no boiler furnace. The guy was brilliant in how he designed this place. Like he had some experience.

Derek: 10:28

That comes with time, doesn't it? Understanding what it is you need to do and how you can make some sort of investment work. I was I remember at my W2 talking with someone who said, Oh man, I doubled my money in five years with. With with stocks and that was over a bowl period. But I think to myself you can, if you get yourself into a right fourplex situation where you're the owner, you can put down 5 percent right in the very first year, start renovating the units and boost the rents and then refinance and get your money out within a year or two and double or quadruple your money. If you do it correctly. So

Peter: 11:04

tons. They call that an infinity return. When you put money into a deal and then you can refinance and get your money out, the returns are to infinity. You have no money in the deal. You, it's just all capital. And I'll tell you, like when I took that place over, I got that for 235, 000. It was probably average 850 to 900 rents. Now, I don't know exactly what it's worth because it is residential, but Zillow is saying like 540, probably could sell it for that much. Now the rents are more, are closer to 2, 000. The rents are more like between 14, 000, depending on the quality to 1795. And then one of our secret ingredients, which I would encourage people to explore anyway, Is, I have some, I have a millennial and a generation Z kids. Everybody's got a pet. Everybody's got a cat. Everybody's got a dog. We are totally pet friendly and this helps us. Not only get the best tenants, but also retain them because it's hard for them to move somewhere else.

Derek: 12:10

Yeah. And what's really great is if you are working and another method that works well, if you're willing to deal with it is the student housing or rent by the bedroom. And if you do something like that, a lot of people will cringe or they'll say, Oh my gosh, like that's going to be a party house or whatever. Here's the thing. If you go into it knowing that's going to happen, you put down LVP. You put super durable, like cabinets and countertops in. And if you know that the numbers work out in that area where by the bedroom, you can get 50 percent more in rents than renting to a long term tenant. It just comes down to numbers, right? Like how much can you get for the return? And how can you serve this community? What is necessary? What, who's willing to pay what? So I absolutely love that take on it that you're like. I'll take those tenets that no one else will accept. I think it's a, that's a brilliant strategy. Now, before we talk a little bit more about tactics, I just wanted to back up with one question. Then we can go back into tactics. But my question is. You have learned a lot of skills starting from the military and going to corporate career and then finding yourself in real estate investing. Can you talk a little bit about how each of those skills cascaded or, built a tapestry up for you to be investing in real estate so that we can inspire some of the listeners who are maybe in your spot too, before you started?

Peter: 13:29

Yeah, sure. Sure. I think the military gives you great background and helps you develop a sense of discipline. I was actually started in the military as a mechanic, I'm a gearhead. I like cars and motorcycles, things with engines, but I ended up, moving up to become an officer. I went to warrant officer and ended up running a shop. And then, I was always the employee, I was always the soldier that liked safety and hazardous materials. Knowing that stuff, so I ended up taking a role where I worked in safety management. So I had a long career with the military, but I had a lot of different jobs, within the military, which was fantastic. And my last job was I was a training officer and I was a safety officer. I knew that this was, could convert to. The outside. So I needed to finish up a college degree I was working on. I need to get a certification in safety that's recognized by, the HR folks out there. So it's called certified safety professional. I attained that. And then that took that into my corporate career. And I think when it comes to real estate investing, I think discipline tenacity, my superpower, Derek is absolutely taking action. I take action. And then, going into corporate and seeing how a really large business works in telecom, the organizational features of it, a lot of the personality testing, not just Myers Briggs, but we did some of the other leadership testing. And it really opened up my eyes to like another world, right? Because I had been working for the government all those years. If I had a creative and idea. Of how to solve a problem in corporate, I had a fantastic VP and she's let's try it. Let's try it for a year. If it saves the company money and the people like it, it's good. I'm like, in the military, if you have a change, like it's like an act of Congress literally to get a budget, to do it. So it was a lot of fun to see that and to be creative. And I think. Dissolving that data, working in the, spreadsheet tabs and those things carried over into, helping me with underwriting, but also the skill set of working with different people and different communication styles. I know that a lot of the brokers out there that I talked to commercial brokers for much larger deals, they're all different. They're all in the same industry. They're in sales, but they have a lot of different personalities. And I feel like working with so many different groups of people and. Different generations of people really gave me a strength to make those deals come together.

Derek: 16:02

Yeah that's golden advice for folks just to keep in mind that all these things that you're learning in the corporate world or wherever you're at, like just keep in mind that you can leverage some of these things to build into. Another business, whether it's real estate investing or franchises or anything else. I guess the point here is that all of these things either build on each other or they translate into something bigger. If you can put the pieces together and have the creativity and the drive to make it happen. And so that's what I see a lot with you, Pete.

Peter: 16:32

Derek, if I may just talk about the capital, I got to buy that first townhouse because I want to be clear to people. If you're out there working in corporate, you might be drawn to Derek's show. It's awesome. Corporate is a great place to start building your capital. I did it in the military instead of an IRA to have something called a TSP. It's a thrift savings plan. It's like a 401k. When I was in my twenties, I was putting money away. I was putting an SMP fund. I bought a home when I was in my twenties, my first home. There was a small 800 square foot ranch, two bed, raised the family there. Sold that, bought a bigger home in the country. I lived in that bigger home in the country all the way through that 2018. And the way that I got the capital to buy that townhouse. The four units is I took out an equity line of credit against my almost paid for a house. The bank was like, sure, we'll give you 50 grand for a deposit because you almost paid for the house. That's cool. So I got my first 50 K out of that. And I'll tell you, you hear people talk about the art of the first deal. Once I got that first deal, I bought a house around the corner, a triplex that I still own could walk to it. I got another house down the street from there for you. Once, once you take action and you're no longer afraid and it's possible, you can just repeat this. And then, later on with capital, as you suggested, we refinance, sure. We refinanced when it was three and a half percent, but we refinanced, we're lucky we got it done. We cashed out. We have no, no money tied up in any of these properties.

Derek: 18:13

Yeah, I think that's great. Like the creativity there. And just to know that there's so many options when you pick up property, it's one of the reasons why, and it's also getting into the real estate business, it's very demand heavy. So it's like you're getting into a business with waiting customers, because there's not enough housing for for the current demand in the United States in general, every real estate market's different, but in general, most cities or metropolitan areas have that type of effect going on. And Pete, for also the listeners sake, I got my start in the California Bay area and folks that are on the East coast and the West coast, they have this. incredible advantage to tap the equity either in an IRA or in your home, your own home that you use as a private residence. And this is what the people would do that I met in my first REIA too, Pete, is they would refinance these nearly paid off homes or these homes that have grown in value like Exponentially, and then they'll take 100 to 100 or 150, 000. And then they'll go to the Midwest and they'll buy a house for cash over there. That cash flows more per dollar. Invested than it would at home. And they would use the cashflow from that property in the Midwest to pay off the line of credit plus their salary. And then once it gets paid down, then you get your second house. And now you have two houses paying down the HELOC, right? And then you just keep repeating that. And it keeps getting faster and faster between the times you get to buy houses. And so there's people that have, that I know in the Bay Area that did very well with that in a very short period of time, like even three years they're able to build a portfolio of six to 12 paid off houses. And so I just love that you talked about that with the creativity and just thinking through the logistics and if you have the tenacity to stick through it and make it happen, this is what can

Peter: 19:59

happen for you. Yeah. Yeah. For anybody that's starting out, I would just say, you're going to take action. And you get to learn as you go, you learn by doing, but you can read all the books you want. You can go to all the real meetings you want. I'm guilty of it. When I said I joined 2012, 2013, I didn't buy anything until 2018. So it took that five, six years of listening and being around it for me to take action. But now for me to buy something that small, four units, if it's really worth my time, I will, but I'll just send an email to my broker. And get it done and sign a purchase and sales. No problem. It's just so easy. Once you have the muscles in place, it's easy. It's not scary

Derek: 20:42

at all. Yeah. All the friction goes away. So let's talk a little bit about that now, because one of the biggest things that I talk to when I talk to investors is risk. And I'm curious, what is your strategy to managing risk or explaining risk to people that invest alongside you or for your own portfolio? Like, how do you evaluate risk when buying

Peter: 21:03

property? So me personally, Derek, my risk meter is pretty far into the red. I don't mess around, but when it comes to investors money and a deal, that's going to be either syndicated or JV I'll put it all out there for him. I underwrote something I'm going to see this week with someone in my circle, just a small 10 unit building that we can drive to and add to our portfolio pretty easily. But I sent him an underwriting template. It's a solid deal. It would be owner financing. I sent it to him. I know it's a good deal, but I'm having a partner on this. I'm just letting him digest it, answering any questions he has talking about the future of this place. It's it's in a great part of town. It doesn't have any parking, but I negotiated parking with the seller. So tenants would have a place to park. And more importantly, the city, if you want to do short term rentals or midterm rentals, you have to have parking. So anyway, we're going to go. I'm going to go with him on Wednesday and check that out, answer any questions he has and just bring him along on it and we'll see if he doesn't like it. If it's not for him. I know that I can make a phone call and somebody else will step up and, match me with the money or we'll just pull it down ourselves. Thank you. So I don't know if that answers your question, but it's just, it's about listening to what they're afraid of, right? This gentleman is an experienced investor. He owns multi families already. It'd be a totally different conversation if this was somebody's first property. Oh yeah.

Derek: 22:35

Yeah. To be able to communicate what the risks are and be able to tell someone what it is that's happened in the past or what potentially could happen because either you had a close call or maybe it did happen to you. I think that's really like a key in part of the process of getting to know someone who wants maybe who wants to work with you in. Investing in real estate. I think that's part of the process and it's super, super important. So can I also ask you, yeah, go ahead

Peter: 23:04

as a, yeah, as a sponsor, which would be as a person that's writing the offer for the deal and the team around it I'm going to take action. I'm going to get something really good under contract and then I'm going to. Work with my partners to come up with, presentation, the webinar, all the information that's out there for investors on a big deal. Like, when I say big deal, I don't want to skip too far ahead or intimidate anybody, but, I'm talking about, 100 units, 150 units offers. We've written other properties we've partnered on just really big buildings because when you can do something small, like my first townhouse. When you can manage that, build the rents, manage tenants, you really understand what it takes to run a big property. I'm not going to run the big property, we'll have a team running it. But, somebody on the team is going to check on it, know if things look like they're working toward the properties. We travel to, or I travel to Kentucky. I like the greater Lexington, Kentucky area. I have contacts there and the greater Charleston, South Carolina area. I've traveled there recently and written some offers and next week. I'm still waiting to hear back from a partner, but. We may be going to Charlotte. We wrote an offer on a hundred and two unit deals there. All townhouses, which, I understand townhouses, right? I bought one. That was my first property. Very

Derek: 24:28

cool. So let me ask you when you, and this kind of ties on to what you were just saying before, but what are some of the key factors that you look for when you're looking at a potential acquisition? What are some of the things you're like, Oh, this is. Definitely something that we need to look at or what are things that can disqualify things before they're even presented to you.

Peter: 24:48

Yeah, so I really don't just look at pricing, right? I really like the location. So if it's an MSA where, we've got at least 100, 000 people and people are good, going to work and have jobs and, the numbers are up on population growth and also manufacturing. I like to see if there's some new manufacturing going in, maybe some high tech stuff like to have in North Carolina, they have some chip manufacturers that are going to be going in North Carolina and South Carolina. So industry jobs, if somebody is going to pay you a good rent for a really nice place, they need to have a decent job. So jobs are important. I would also say that I want something that's going to be very similar. So sometimes you can look at a property and it can be like. 15 different varieties of apartments and 2 bedrooms, 1. 5 bedrooms, somebody will call it a 4 bedroom. It can be very confusing. If I'm going to bring something to investors, I want it to be very easy to understand. So this last property is 102 units. It is all 2 bedroom townhouses, no garage, just parking in front. Obviously, no basement. It's in the Carolinas, and it's just a real simple property, but it's been mismanaged. They need some help. So that's what we look for is a value add. So what a value add is, the place doesn't just need paint. Maybe it may need a new kitchen. It may need new baths. Those are expensive and owners put those off. So as part of the package, we would consider upgrading all of these. A deal that we wouldn't really look at is if all this work was already done and there's no value add. But value adds can be a few different things, right? So value adds can be repairs and maintenance that have been deferred. It could be outdoor stuff to make it look pretty. That's been put off. Sometimes I'll go see a property. The indoors look great, but outside, it makes you want to vomit or walk away. Yeah.

Derek: 26:48

That's properties that like, they smell like money, right? Even though they smell like vomit, they smell like money to me.

Peter: 26:54

Yeah. The third thing I would say is management. I went to see a property in South Carolina. And they're like, Oh yeah, the broker's awesome. And he's just upfront. He's Oh, he's yeah, they've been having trouble with management. One of the partners is leaving. He managed the properties poorly and now they're breaking up. So they're selling it. And this is the third property manager that's been in here. And I'm like where are they located? We're in Charleston, South Carolina. He says, Virginia beach. And I'm like, wow, is there a Virginia beach, South Carolina, or are they incredibly far from the property? He's yes. There's always some opportunities. That's what we look for. Whether it's if it's a C class, we'll look at if it's a C to B. That's our sweet spot. Yeah. Sounds good. So yeah, you don't need me to explain the

Derek: 27:42

classes. Yeah, no, that's good. Yeah. I think that, that makes a lot of sense. I think a lot of this is pretty intuitive and there's tons of research and people can look this all up because people that are curious about learning and. Investing in real estate, tons of material out there. I'm sure you've got some stuff to pass along as well too, that we can get to in just a minute here. Last question I have for you is authenticity and networking. I want to ask you how much of these two things that you listed as one of your superpowers has attributed to your success in real estate investing to where you are today.

Peter: 28:16

It's incredible. It's incredible. Between social media, I'm pretty heavy involved on LinkedIn. As I'm going in person and meeting people where they are. I've been to conferences. I'm going to be going to really large conference in Utah in April that I budgeted for. I'll be at the best ever conference last year. It's at the conference in Atlanta, Georgia. And there I met people that I've stayed in touch with. I had dinner with people while I was there. I go early, so I'm pretty social. I'm early. I may be getting a little something at the bar and talking to whoever shows up. It's just, you just meet some really great people that way. So I think my superpower is connecting with them, but also following up. And then putting them in my CRM, in my calendar, and just following up, These days, if you actually call somebody, they're like, Is everything okay? Again, I'm just following up with you like they're expecting an email or a text, but I want to have a genuine relationship with you. My potential partner for the deal in Charlotte, we met at that infant conference in Atlanta. I was running around all day and it was my network that helped us find each other. I introduced myself as being from Boston because people know where that is. And then everybody's there's another guy from Boston here. There's another guy from Boston. And some of the people from A mastermind that I belong to kept saying, there's another guy from Boston. So they helped me find them. So I found Dave, we found each other and it's funny. We were both from Boston and we were wearing the same like tweed jacket, same color, everything. So we hit it off and we went to dinner and I still have him saved as I'm Finn Dave steak, I think it's just important to connect with people and try to help them. Sure. I didn't know what's going to become of my relationship with Dave. I listened to him. I try to connect them with people that are doing things that he's doing with short term rentals and development. And I go visit him. He's not that far away. I went to his development. He's building 40 houses, not too far from me in Massachusetts. I went up there, we had lunch, spent some time. So I really like to invest in my relationships and I like to do it in person if possible. You

Derek: 30:25

know, there's so many people out there that have this idea that I don't know how to rub shoulders with some of these people that. Own hundreds or thousands of units. And if I could just talk with some of those people maybe someone would quote unquote, give me a chance, right? I think some folks out there who are maybe just getting started in their journey. First, you have to be someone of value that's giving some sort of value, but if you show up to these events and you have that education and you've done your homework, this is how you do it. To your case in point, if you wanted to learn how to develop single family homes, you're one conversation away from having that. And that's, what's so beautiful about being authentic, like you said, and then networking. So being authentic with who you are telling the truth, being intentional and being as positive as you can with that authenticity. And then I'm

Peter: 31:13

excited about real estate too. Like I love to learn about what other people are doing and I'm really excited like. I got to be careful not to get the shiny object syndrome and realize multi families are a superpower. But it's easy to see I met somebody, he's as tall as I am. His name, he goes by Shadzilla, right? He was a former pro athlete. He's in Atlanta. He's building tiny home developments. That's what he does. Wow. But I've already been in touch with people who are like, Oh, tiny home. I'm like, Oh, you got to meet Shadzilla. So I direct him to him. We had a chance meeting at MFin, but I still know him as the tiny home person, I I went to another investor conference and as part of a tour with the the Zook family, I don't know if you're familiar with Dave Zook, but I went to his annual cookout and they did a tour of their facilities and guess what they built tiny homes. Yeah, that's what I figured. So who do you think I connected? Yeah. That's what you gotta do. You gotta listen. And then if you can add value in some way and connect people. That's

Derek: 32:14

gold and you better believe that they're not going to forget that you made that connection to as well. All right Hey Pete, this has been an awesome podcast so far, but what we want to do right now is head into the final segment of our show, which is the rapid round. And it's five questions that we ask every one of our guests and it's the same five questions. They're meant to be answered about 30 seconds each. And if you're ready, we're going to just fire them at you and then. We'll see where it goes after that. You ready?

Peter: 32:40

Put your hand up when he's 30 seconds.

Derek: 32:44

Number one, name any resource that was or still is essential in your journey to pursuing freedom. Well,

Peter: 32:52

I love to read and there's this late great guy called Jim Rohn and he has a goals book that's out there. You can buy a secondary Jim Rohn coached this guy named. Anthony Robbins. Oh yeah. And he has a goal setting. It's the seven steps to wealth. It's a classic one. I use it every year.

Derek: 33:13

Yeah. It's so good. All right. Number two, if you woke up and your business was gone, you had only 500, a laptop and a place to live and some food. What do you think you would do first to rebuild?

Peter: 33:28

Do I have, do I still have my contacts? I remember a couple phone numbers.

Derek: 33:35

I was going to say no to that question because it's more of a mindset. Like how would you start shifting? But I'll let you decide.

Peter: 33:42

That's all right. All right. So I have nothing. So I would start opening up some social medias. I would probably start with LinkedIn because that's where I'm very comfortable. Yeah. And I would pull up Canva and I would start to create great content that would cause conversations in the industry. If I was still interested in multifamily that's what I would do, but I think if it's an island, I might be interested in building a boat

Derek: 34:06

to survive. I love it. What to get away. All right. Number three, what does your self reflection and goal setting practice look like?

Peter: 34:16

So I did give you a clue. So I do use Jim Rohn's book. My wife and I are big goal setters and we actually we actually have a resource on our site that I can send you the link to after that's a goal setting worksheet that we put together. The best of what I do, the best of what she does. She's much more spiritual. She's a certified yoga instructor, so she brings the heart into it and we go through that practice and there's this wheel where you you know, spirituality, what do you want to achieve? It's really cool. So we use that practice. Very

Derek: 34:50

cool. All right. Number four. What are the core work habits that you attribute to your success? So personality or just habits you picked up over the years.

Peter: 35:01

Yeah So one of the things that I'm trying to work on better is, that whole concept about eating the frog, you know the ugliest thing first so sometimes When I get up in the morning, I may not feel like making that content or opening up the spreadsheet again and trying to get a deal, but I have the discipline. To keep doing it. And I think a good part of that is, is both being in a mastermind and running a mastermind and being around people that are doing it. And I can discuss my problems with them. And then if you go talk to your family or your. Dog or cat. They're not gonna understand. Be around like minded people or pets. I'm just envisioning

Derek: 35:43

people trying to talk to their dog and cat about their issues. That's really funny. I know that people actually do it for therapy but I meant in a more like intentional way on a daily basis. To try to hit your goals, probably not going to work too well. But I do I do like that. Mastermind

Peter: 35:56

holds you accountable when you go there each week or every other week. Yeah. Part of the accountability around maybe five or six peers and they hold you accountable for what you're supposed to do last week. A hundred

Derek: 36:09

percent. Yeah. And by the way, just to dovetail on top of what you said before, there is Brian Tracy's book called eat that frog, which is amazing. And then also the one thing those two books really compliment each other. But the one thing by Gary Keller and Jay Papa's on, I believe that it like really drives home the point that like, you know. Make that time block really intentional, eat the frog, eat that thing that you don't want to do first, and then just watch your efficiency soar. So I love that you said that. It's really great. Yeah. Very good. Very good book. Yeah. All right. Last question I have in the rapid round is what tool or process has become one of your most important time, money, or energy saving ninja magic tricks that you use every day?

Peter: 36:51

Yeah, so I just learned this one recently, actually, since the CRA challenge. So on LinkedIn, Is to actually use my computer for LinkedIn. In the morning, I make some content, maybe it's for the next day or whatever, but I'll use my laptop. I'll just go on there. I'll do it. Maybe during the day, I'll use the app and check in, but most of my time is in the morning early morning. A half an hour. Social media, getting it done and then close, close the laptop. It's been very rewarding.

Derek: 37:25

Yeah, no, that's great. I would also add to that too. Because it may seem like it's a like a small tip, but I really love it because you can get way much, way more done on a laptop computer or on a bigger computer because of the keyboard and just the aesthetics and it's just easier to do. But I would also add that.

Peter: 37:46

Yeah. I was going to say, it feels like you're working when you're on your phone. You can get distracted,

Derek: 37:51

yeah, absolutely. And I was just going to say too that if you have if you like dark mode, which is like the dark you can turn everything black so that way at least for me, when everything is white, it feels like it's too bright in my face and hard to read. But with a black background, I'm sorry. Yeah. Black background and white text. It's much easier for me to be able to do that. And you can do it on the phone, but it's really nice on the big computer screen as

Peter: 38:14

well. Easy on the computer. Yeah, that's a good

Derek: 38:16

trick. Yeah. Yeah, absolutely. So anyway, Pete, this has been awesome, and I wish we had some more time to continue the conversation, but I'm sure there'll be more conversations in the future. But before we go, why don't you tell the listeners how they can find out more about what you've got going on? Sure,

Peter: 38:32

sure. We have our website. It's capitalturners. com, and I'm active on LinkedIn. All the links are on the website, capitalturners. com. It might be hard to find Peter Turner. There's a few of us.

Derek: 38:46

Yeah, I can imagine,

Peter: 38:48

but I love to connect with people. We are mentoring. We do we do have some slots left for some free stuff. We're pulling together some young folks that are interested in mentoring. So we're going to build a little mini mastermind out of those folks. So if somebody is interested in that, feel free to reach out. It's a Peter at capital turners. com, or you can check out capital turners. com has all our content. And under the education tab is that free goals, work workbook.

Derek: 39:17

Sounds good. And also all of the information you provide during the production phase of this podcast like your social media and your, all the other stuff we'll be able to put into the show notes for the audience so that they can also find you. Oh, great. So please go to the please go to the show website on our page at elevate equity. org and then forward slash episode. One 80 something I've actually don't know the episode number yet. But once it's posted, wherever you're listening to this, you should be able to find that link there. But I also wanted to thank the audience as well for listening all the way to the end. So please, wherever you are listening to this podcast, please subscribe, comment. Thumbs up with the bell notification just engage with us so that we can appease the algorithm gods and get more and more listeners to come in and then also get more incredible guests like Peter to come on the show. So that being said, Pete, thanks so much for having me on. This was great. Awesome.

Peter: 40:10

Thanks for having me on.

Derek: 40:12

Absolutely. We'll see you guys next week. Take care.