{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.02,"endTime":1.239,"body":"Hey,"},{"speaker":"Average Joe Finances","startTime":0.02,"endTime":1.239,"body":"welcome back to the Average"},{"speaker":"Average Joe Finances","startTime":1.239,"endTime":2.87,"body":"Joe Finances Podcast, everyone."},{"speaker":"Average Joe Finances","startTime":2.87,"endTime":6.815,"body":"I'm your host, Mike Cavaggioni"},{"speaker":"Average Joe Finances","startTime":2.87,"endTime":6.815,"body":"and today's guests are Ryan"},{"speaker":"Average Joe Finances","startTime":6.815,"endTime":8.59,"body":"Webster and Warren Dresner."},{"speaker":"Average Joe Finances","startTime":8.78,"endTime":10.129,"body":"So I'm really excited to talk to them."},{"speaker":"Average Joe Finances","startTime":10.129,"endTime":13.64,"body":"They're coming to us from Equity Yield"},{"speaker":"Average Joe Finances","startTime":10.129,"endTime":13.64,"body":"Group and they're both gonna share"},{"speaker":"Average Joe Finances","startTime":13.645,"endTime":17.33,"body":"their story, their background, and"},{"speaker":"Average Joe Finances","startTime":13.645,"endTime":17.33,"body":"how they got to where they are today."},{"speaker":"Average Joe Finances","startTime":17.57,"endTime":19.19,"body":"Super excited to have this conversation."},{"speaker":"Average Joe Finances","startTime":19.46,"endTime":20.94,"body":"Gentlemen, thank you for joining me."},{"speaker":"Warren Dresner","startTime":21.64,"endTime":22.685,"body":"Thanks for having us."},{"speaker":"Ryan Webster","startTime":22.805,"endTime":23.375,"body":"Yeah, thank you."},{"speaker":"Average Joe Finances","startTime":23.855,"endTime":24.575,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":24.755,"endTime":27.995,"body":"Hey the first question I wanna ask"},{"speaker":"Average Joe Finances","startTime":24.755,"endTime":27.995,"body":"you is the same question that I ask"},{"speaker":"Average Joe Finances","startTime":27.995,"endTime":30.995,"body":"everybody that comes on this show,"},{"speaker":"Average Joe Finances","startTime":27.995,"endTime":30.995,"body":"and we wanna know more about you."},{"speaker":"Average Joe Finances","startTime":30.995,"endTime":34.714,"body":"So if you could, share a little bit"},{"speaker":"Average Joe Finances","startTime":30.995,"endTime":34.714,"body":"about yourselves, Share your story."},{"speaker":"Average Joe Finances","startTime":34.714,"endTime":35.705,"body":"How did you get started?"},{"speaker":"Average Joe Finances","startTime":35.945,"endTime":37.985,"body":"How did you guys find Equity Yield Group?"},{"speaker":"Average Joe Finances","startTime":37.985,"endTime":38.495,"body":"We wanna know."},{"speaker":"Ryan Webster","startTime":38.794,"endTime":40.294,"body":"Yeah I'll, jump in here."},{"speaker":"Ryan Webster","startTime":41.074,"endTime":43.714,"body":"So yeah, I'm a real estate"},{"speaker":"Ryan Webster","startTime":41.074,"endTime":43.714,"body":"professional and entrepreneur."},{"speaker":"Ryan Webster","startTime":44.044,"endTime":48.124,"body":"And prior to make the transition"},{"speaker":"Ryan Webster","startTime":44.044,"endTime":48.124,"body":"into strictly real estate investment"},{"speaker":"Ryan Webster","startTime":48.129,"endTime":52.534,"body":"and in buy and hold, I owned and"},{"speaker":"Ryan Webster","startTime":48.129,"endTime":52.534,"body":"operated a construction development"},{"speaker":"Ryan Webster","startTime":52.534,"endTime":54.154,"body":"company here in the Midwest."},{"speaker":"Ryan Webster","startTime":54.934,"endTime":59.524,"body":"A couple years ago was looking at I had"},{"speaker":"Ryan Webster","startTime":54.934,"endTime":59.524,"body":"built a successful company and looking"},{"speaker":"Ryan Webster","startTime":59.524,"endTime":63.274,"body":"back at I think same question a lot of"},{"speaker":"Ryan Webster","startTime":59.524,"endTime":63.274,"body":"people ask when they get into real estate"},{"speaker":"Ryan Webster","startTime":63.274,"endTime":68.125,"body":"investment is what's the best use of"},{"speaker":"Ryan Webster","startTime":63.274,"endTime":68.125,"body":"my time and decided I wanted spend more"},{"speaker":"Ryan Webster","startTime":68.125,"endTime":71.245,"body":"times with my kids before they grow up"},{"speaker":"Ryan Webster","startTime":68.125,"endTime":71.245,"body":"and don't wanna spend any time with me."},{"speaker":"Ryan Webster","startTime":71.545,"endTime":75.415,"body":"So I looked at, okay, how can I maybe"},{"speaker":"Ryan Webster","startTime":71.545,"endTime":75.415,"body":"do business a little differently?"},{"speaker":"Ryan Webster","startTime":75.985,"endTime":79.765,"body":"And then this construction development"},{"speaker":"Ryan Webster","startTime":75.985,"endTime":79.765,"body":"side it's a lot of you build to sell"},{"speaker":"Ryan Webster","startTime":79.765,"endTime":81.53,"body":"and then you pay a capital gains."},{"speaker":"Ryan Webster","startTime":81.537,"endTime":83.872,"body":"So I wanted to transition"},{"speaker":"Ryan Webster","startTime":81.537,"endTime":83.872,"body":"into something that generate"},{"speaker":"Ryan Webster","startTime":83.872,"endTime":85.887,"body":"a little more residual income."},{"speaker":"Ryan Webster","startTime":86.667,"endTime":91.347,"body":"And also I didn't have such a big"},{"speaker":"Ryan Webster","startTime":86.667,"endTime":91.347,"body":"tax burden, so settled into the buy"},{"speaker":"Ryan Webster","startTime":91.347,"endTime":96.661,"body":"and hold rentals and then from that"},{"speaker":"Ryan Webster","startTime":91.347,"endTime":96.661,"body":"into larger scale multi-family and"},{"speaker":"Ryan Webster","startTime":96.661,"endTime":98.461,"body":"founded equity yield group with Warren."},{"speaker":"Warren Dresner","startTime":98.8,"endTime":101.08,"body":"So my background's"},{"speaker":"Warren Dresner","startTime":98.8,"endTime":101.08,"body":"a little bit different to Ryan's."},{"speaker":"Warren Dresner","startTime":101.71,"endTime":103.12,"body":"I'm from Australia originally."},{"speaker":"Warren Dresner","startTime":103.36,"endTime":108.34,"body":"Lived in various places in"},{"speaker":"Warren Dresner","startTime":103.36,"endTime":108.34,"body":"Australia, in Europe, and the US."},{"speaker":"Warren Dresner","startTime":108.345,"endTime":111.64,"body":"Spent a little over five"},{"speaker":"Warren Dresner","startTime":108.345,"endTime":111.64,"body":"years in total in the US Now."},{"speaker":"Warren Dresner","startTime":111.67,"endTime":113.4,"body":"My background's in finance and insurance."},{"speaker":"Warren Dresner","startTime":113.655,"endTime":117.465,"body":"So I've got a long 20 plus years"},{"speaker":"Warren Dresner","startTime":113.655,"endTime":117.465,"body":"experience in the corporate world."},{"speaker":"Warren Dresner","startTime":117.495,"endTime":122.015,"body":"I first got involved in real estate"},{"speaker":"Warren Dresner","startTime":117.495,"endTime":122.015,"body":"mainly for the tax benefits and then"},{"speaker":"Warren Dresner","startTime":122.015,"endTime":124.625,"body":"slowly after time for some passive income."},{"speaker":"Warren Dresner","startTime":124.655,"endTime":126.095,"body":"And I started in real estate."},{"speaker":"Warren Dresner","startTime":126.47,"endTime":128.84,"body":"By buy and hold single family homes."},{"speaker":"Warren Dresner","startTime":128.92,"endTime":132.64,"body":"Probably around 2018 I discovered"},{"speaker":"Warren Dresner","startTime":128.92,"endTime":132.64,"body":"this thing called multifamily"},{"speaker":"Warren Dresner","startTime":132.64,"endTime":134.17,"body":"and discovered syndications."},{"speaker":"Warren Dresner","startTime":134.56,"endTime":138.52,"body":"And so actually started investing"},{"speaker":"Warren Dresner","startTime":134.56,"endTime":138.52,"body":"passively in, in real estate syndications."},{"speaker":"Warren Dresner","startTime":139.0,"endTime":139.9,"body":"In multifamily."},{"speaker":"Warren Dresner","startTime":140.35,"endTime":143.44,"body":"And then a couple of years into"},{"speaker":"Warren Dresner","startTime":140.35,"endTime":143.44,"body":"that, I started to get more actively"},{"speaker":"Warren Dresner","startTime":143.44,"endTime":145.66,"body":"involved looking to do deals myself."},{"speaker":"Warren Dresner","startTime":145.72,"endTime":149.529,"body":"And that's around the time when I"},{"speaker":"Warren Dresner","startTime":145.72,"endTime":149.529,"body":"met Ryan and we formed the company."},{"speaker":"Average Joe Finances","startTime":149.529,"endTime":150.469,"body":"Alright that's awesome."},{"speaker":"Average Joe Finances","startTime":150.491,"endTime":152.231,"body":"Awesome background for both of you guys."},{"speaker":"Average Joe Finances","startTime":152.244,"endTime":152.904,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":152.904,"endTime":157.254,"body":"So you came here from Australia five"},{"speaker":"Average Joe Finances","startTime":152.904,"endTime":157.254,"body":"years ago you said, and you were in"},{"speaker":"Average Joe Finances","startTime":157.314,"endTime":159.234,"body":"the finance industry for 20 years."},{"speaker":"Average Joe Finances","startTime":159.314,"endTime":163.304,"body":"So you're using real estate as a tax"},{"speaker":"Average Joe Finances","startTime":159.314,"endTime":163.304,"body":"haven for yourself, or at least that's"},{"speaker":"Average Joe Finances","startTime":163.304,"endTime":166.544,"body":"where you started off at with the"},{"speaker":"Average Joe Finances","startTime":163.304,"endTime":166.544,"body":"single family homes, and then you looked"},{"speaker":"Average Joe Finances","startTime":166.544,"endTime":168.714,"body":"into getting into more passive income."},{"speaker":"Average Joe Finances","startTime":168.718,"endTime":170.878,"body":"That's awesome because that's"},{"speaker":"Average Joe Finances","startTime":168.718,"endTime":170.878,"body":"what I'm doing right now."},{"speaker":"Average Joe Finances","startTime":171.028,"endTime":173.633,"body":"I'm a passive investor in"},{"speaker":"Average Joe Finances","startTime":171.028,"endTime":173.633,"body":"a couple syndication deals."},{"speaker":"Average Joe Finances","startTime":173.633,"endTime":177.708,"body":"I'm retiring from the Navy next"},{"speaker":"Average Joe Finances","startTime":173.633,"endTime":177.708,"body":"week or the week after next."},{"speaker":"Average Joe Finances","startTime":177.718,"endTime":181.088,"body":"And what I'm really excited about is"},{"speaker":"Average Joe Finances","startTime":177.718,"endTime":181.088,"body":"that I can be a little more active now."},{"speaker":"Average Joe Finances","startTime":181.101,"endTime":182.331,"body":"This is really fun stuff, guys."},{"speaker":"Average Joe Finances","startTime":182.331,"endTime":184.311,"body":"I'm excited to have this conversation."},{"speaker":"Average Joe Finances","startTime":184.314,"endTime":187.884,"body":"And then Ryan, you were, you had"},{"speaker":"Average Joe Finances","startTime":184.314,"endTime":187.884,"body":"a construction company, right?"},{"speaker":"Average Joe Finances","startTime":187.884,"endTime":188.514,"body":"And same thing."},{"speaker":"Average Joe Finances","startTime":188.514,"endTime":192.419,"body":"Were you looking to get into real estate"},{"speaker":"Average Joe Finances","startTime":188.514,"endTime":192.419,"body":"to figure out how to mitigate some taxes."},{"speaker":"Average Joe Finances","startTime":192.419,"endTime":195.413,"body":"I know you said you wanna be able to spend"},{"speaker":"Average Joe Finances","startTime":192.419,"endTime":195.413,"body":"more time with family, but what were some"},{"speaker":"Average Joe Finances","startTime":195.413,"endTime":196.673,"body":"other things that you were looking at?"},{"speaker":"Average Joe Finances","startTime":196.673,"endTime":199.343,"body":"I guess the, was it more of the"},{"speaker":"Average Joe Finances","startTime":196.673,"endTime":199.343,"body":"passive income aspect as well?"},{"speaker":"Ryan Webster","startTime":199.346,"endTime":200.396,"body":"Yeah, a little bit of both."},{"speaker":"Ryan Webster","startTime":200.409,"endTime":202.719,"body":"Real estate as an asset"},{"speaker":"Ryan Webster","startTime":200.409,"endTime":202.719,"body":"made a lot of sense to me."},{"speaker":"Ryan Webster","startTime":202.719,"endTime":206.469,"body":"It was a very natural transition since"},{"speaker":"Ryan Webster","startTime":202.719,"endTime":206.469,"body":"I was building real estate assets."},{"speaker":"Ryan Webster","startTime":206.483,"endTime":210.293,"body":"But the ability to, generate"},{"speaker":"Ryan Webster","startTime":206.483,"endTime":210.293,"body":"ongoing income and cash flow was"},{"speaker":"Ryan Webster","startTime":210.293,"endTime":213.983,"body":"attractive and then the ability to"},{"speaker":"Ryan Webster","startTime":210.293,"endTime":213.983,"body":"not pay so much in taxes to keep"},{"speaker":"Ryan Webster","startTime":214.253,"endTime":215.573,"body":"more of the money that I earned."},{"speaker":"Average Joe Finances","startTime":215.579,"endTime":215.939,"body":"Right on."},{"speaker":"Average Joe Finances","startTime":215.939,"endTime":219.359,"body":"Now did you also start in single"},{"speaker":"Average Joe Finances","startTime":215.939,"endTime":219.359,"body":"family homes and then transition"},{"speaker":"Average Joe Finances","startTime":219.359,"endTime":222.599,"body":"into multifamily or did you just"},{"speaker":"Average Joe Finances","startTime":219.359,"endTime":222.599,"body":"start straight off in multifamily?"},{"speaker":"Average Joe Finances","startTime":222.629,"endTime":224.027,"body":"Cause it sounded like you did."},{"speaker":"Ryan Webster","startTime":224.027,"endTime":224.353,"body":"Yep."},{"speaker":"Ryan Webster","startTime":224.503,"endTime":226.106,"body":"I went right into, multifamily."},{"speaker":"Average Joe Finances","startTime":226.406,"endTime":226.856,"body":"That's awesome."},{"speaker":"Average Joe Finances","startTime":226.886,"endTime":229.359,"body":"So I haven't had too many"},{"speaker":"Average Joe Finances","startTime":226.886,"endTime":229.359,"body":"people on the show that have"},{"speaker":"Average Joe Finances","startTime":229.359,"endTime":230.979,"body":"gone straight into multifamily."},{"speaker":"Average Joe Finances","startTime":230.979,"endTime":234.373,"body":"It's usually they work themselves up"},{"speaker":"Average Joe Finances","startTime":230.979,"endTime":234.373,"body":"and I hear so many people saying, Oh you"},{"speaker":"Average Joe Finances","startTime":234.373,"endTime":236.383,"body":"can just go straight into multifamily."},{"speaker":"Average Joe Finances","startTime":236.653,"endTime":238.0,"body":"And a lot of people are like, How?"},{"speaker":"Average Joe Finances","startTime":238.009,"endTime":240.023,"body":"That's gonna be my next"},{"speaker":"Average Joe Finances","startTime":238.009,"endTime":240.023,"body":"question for you, Ryan."},{"speaker":"Average Joe Finances","startTime":240.273,"endTime":242.865,"body":"Is how, because, again,"},{"speaker":"Average Joe Finances","startTime":240.273,"endTime":242.865,"body":"I did the same thing too."},{"speaker":"Average Joe Finances","startTime":242.865,"endTime":245.055,"body":"I worked my way up before"},{"speaker":"Average Joe Finances","startTime":242.865,"endTime":245.055,"body":"I got into multifamily."},{"speaker":"Average Joe Finances","startTime":245.265,"endTime":246.975,"body":"So how did you just jump right in?"},{"speaker":"Ryan Webster","startTime":246.977,"endTime":248.232,"body":"Yeah, know"},{"speaker":"Ryan Webster","startTime":246.977,"endTime":248.232,"body":"a couple different things."},{"speaker":"Ryan Webster","startTime":248.232,"endTime":252.135,"body":"I think the first obstacle for most"},{"speaker":"Ryan Webster","startTime":248.232,"endTime":252.135,"body":"people is really about mindset."},{"speaker":"Ryan Webster","startTime":252.142,"endTime":253.745,"body":"And I had built a successful company."},{"speaker":"Ryan Webster","startTime":253.745,"endTime":259.375,"body":"I understood the benefits of having"},{"speaker":"Ryan Webster","startTime":253.745,"endTime":259.375,"body":"scale of operations which kind of"},{"speaker":"Ryan Webster","startTime":259.375,"endTime":264.565,"body":"said I, I wanna skip over this, single"},{"speaker":"Ryan Webster","startTime":259.375,"endTime":264.565,"body":"family and jump into scale and have more"},{"speaker":"Ryan Webster","startTime":265.015,"endTime":266.785,"body":"efficiencies in the business as a whole."},{"speaker":"Ryan Webster","startTime":267.025,"endTime":269.455,"body":"And the other contributing"},{"speaker":"Ryan Webster","startTime":267.025,"endTime":269.455,"body":"factor was the market I live"},{"speaker":"Ryan Webster","startTime":269.455,"endTime":271.915,"body":"in is not a big rental market."},{"speaker":"Ryan Webster","startTime":272.005,"endTime":276.235,"body":"I knew I was gonna have to get outside"},{"speaker":"Ryan Webster","startTime":272.005,"endTime":276.235,"body":"of the place I live to invest in"},{"speaker":"Ryan Webster","startTime":276.415,"endTime":278.515,"body":"quality, multifamily and strong markets."},{"speaker":"Ryan Webster","startTime":278.875,"endTime":281.964,"body":"And you have to have scale"},{"speaker":"Ryan Webster","startTime":278.875,"endTime":281.964,"body":"to operate at distance."},{"speaker":"Average Joe Finances","startTime":281.97,"endTime":282.24,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":282.24,"endTime":282.45,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":282.45,"endTime":283.14,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":283.32,"endTime":285.66,"body":"Economy of scale is a huge"},{"speaker":"Average Joe Finances","startTime":283.32,"endTime":285.66,"body":"thing for people to invest"},{"speaker":"Average Joe Finances","startTime":285.66,"endTime":286.74,"body":"in multifamily real estate."},{"speaker":"Average Joe Finances","startTime":287.34,"endTime":290.94,"body":"It's when you look at the buildings"},{"speaker":"Average Joe Finances","startTime":287.34,"endTime":290.94,"body":"that you have, if you have to go change"},{"speaker":"Average Joe Finances","startTime":290.945,"endTime":294.99,"body":"out the roof, you're changing out one"},{"speaker":"Average Joe Finances","startTime":290.945,"endTime":294.99,"body":"roof for 20 plus units versus if you"},{"speaker":"Average Joe Finances","startTime":294.99,"endTime":298.497,"body":"have 20 homes and you're changing out"},{"speaker":"Average Joe Finances","startTime":294.99,"endTime":298.497,"body":"20 roofs, that could be very expensive."},{"speaker":"Average Joe Finances","startTime":298.502,"endTime":299.424,"body":"So that's huge."},{"speaker":"Average Joe Finances","startTime":299.425,"endTime":299.725,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":299.725,"endTime":300.145,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":300.147,"endTime":303.892,"body":"So Warren, now for you, when you made"},{"speaker":"Average Joe Finances","startTime":300.147,"endTime":303.892,"body":"that transition from single family"},{"speaker":"Average Joe Finances","startTime":303.892,"endTime":305.692,"body":"to multifamily, how did that work?"},{"speaker":"Average Joe Finances","startTime":305.692,"endTime":308.392,"body":"And now cuz was this all, since"},{"speaker":"Average Joe Finances","startTime":305.692,"endTime":308.392,"body":"you've been in the US or during"},{"speaker":"Average Joe Finances","startTime":308.392,"endTime":311.572,"body":"this five year span, you started"},{"speaker":"Average Joe Finances","startTime":308.392,"endTime":311.572,"body":"investing in single family real estate"},{"speaker":"Average Joe Finances","startTime":311.572,"endTime":313.132,"body":"then transitioned to multifamily?"},{"speaker":"Average Joe Finances","startTime":313.132,"endTime":315.802,"body":"Or were you already investing in real"},{"speaker":"Average Joe Finances","startTime":313.132,"endTime":315.802,"body":"estate when you were back in Australia?"},{"speaker":"Warren Dresner","startTime":315.805,"endTime":319.345,"body":"Yeah, I was already"},{"speaker":"Warren Dresner","startTime":315.805,"endTime":319.345,"body":"investing in real estate in Australia."},{"speaker":"Warren Dresner","startTime":319.495,"endTime":322.263,"body":"In Australia, they don't really"},{"speaker":"Warren Dresner","startTime":319.495,"endTime":322.263,"body":"have the concept of multifamily."},{"speaker":"Warren Dresner","startTime":322.263,"endTime":325.443,"body":"I don't know why exactly, but when the"},{"speaker":"Warren Dresner","startTime":322.263,"endTime":325.443,"body":"developers build these big communities,"},{"speaker":"Warren Dresner","startTime":325.443,"endTime":327.778,"body":"they tend to sell them off as condos."},{"speaker":"Warren Dresner","startTime":327.778,"endTime":332.421,"body":"So this concept of multifamily is"},{"speaker":"Warren Dresner","startTime":327.778,"endTime":332.421,"body":"really powerful and it's a US concept."},{"speaker":"Warren Dresner","startTime":332.424,"endTime":334.344,"body":"So I started in single"},{"speaker":"Warren Dresner","startTime":332.424,"endTime":334.344,"body":"families in Australia."},{"speaker":"Warren Dresner","startTime":334.374,"endTime":337.624,"body":"When I got to the US my mindset"},{"speaker":"Warren Dresner","startTime":334.374,"endTime":337.624,"body":"was very much, I'm gonna buy"},{"speaker":"Warren Dresner","startTime":337.629,"endTime":339.184,"body":"single families in the us."},{"speaker":"Warren Dresner","startTime":339.187,"endTime":343.327,"body":"Like I always saw on HG TV or some of"},{"speaker":"Warren Dresner","startTime":339.187,"endTime":343.327,"body":"those TV shows, people buying houses"},{"speaker":"Warren Dresner","startTime":343.327,"endTime":348.682,"body":"for $75,000, a hundred thousand dollars,"},{"speaker":"Warren Dresner","startTime":343.327,"endTime":348.682,"body":"which you is just unheard of in Australia."},{"speaker":"Warren Dresner","startTime":348.712,"endTime":352.102,"body":"So I was really excited thinking there"},{"speaker":"Warren Dresner","startTime":348.712,"endTime":352.102,"body":"are gonna be great opportunities in single"},{"speaker":"Warren Dresner","startTime":352.102,"endTime":356.992,"body":"family in the US and there are, but what"},{"speaker":"Warren Dresner","startTime":352.102,"endTime":356.992,"body":"I discovered is that they're not where"},{"speaker":"Warren Dresner","startTime":356.992,"endTime":360.652,"body":"I live and I would have to get to know a"},{"speaker":"Warren Dresner","startTime":356.992,"endTime":360.652,"body":"whole other part of the country and have"},{"speaker":"Warren Dresner","startTime":360.652,"endTime":362.602,"body":"boots on the ground or build a team there."},{"speaker":"Warren Dresner","startTime":363.082,"endTime":364.577,"body":"And that was difficult for me."},{"speaker":"Warren Dresner","startTime":364.584,"endTime":368.064,"body":"When I discovered multifamily, it just"},{"speaker":"Warren Dresner","startTime":364.584,"endTime":368.064,"body":"made a lot of sense for all sorts of"},{"speaker":"Warren Dresner","startTime":368.064,"endTime":371.877,"body":"reasons, the scale like you talked"},{"speaker":"Warren Dresner","startTime":368.064,"endTime":371.877,"body":"about, but also just, I felt like it"},{"speaker":"Warren Dresner","startTime":371.882,"endTime":375.207,"body":"would be easier for me being someone"},{"speaker":"Warren Dresner","startTime":371.882,"endTime":375.207,"body":"new to the country without an existing"},{"speaker":"Warren Dresner","startTime":375.212,"endTime":377.031,"body":"network, without teams on the ground."},{"speaker":"Warren Dresner","startTime":377.081,"endTime":379.571,"body":"I jumped into multifamily"},{"speaker":"Warren Dresner","startTime":377.081,"endTime":379.571,"body":"straight after that point."},{"speaker":"Average Joe Finances","startTime":379.571,"endTime":379.971,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":380.021,"endTime":383.141,"body":"When you jumped into multifamily,"},{"speaker":"Average Joe Finances","startTime":380.021,"endTime":383.141,"body":"that's actually when you met Ryan and"},{"speaker":"Average Joe Finances","startTime":383.141,"endTime":385.301,"body":"you guys formed this company together."},{"speaker":"Average Joe Finances","startTime":385.308,"endTime":390.371,"body":"So if we could like just jump into what"},{"speaker":"Average Joe Finances","startTime":385.308,"endTime":390.371,"body":"was that first deal like, especially with"},{"speaker":"Average Joe Finances","startTime":390.371,"endTime":395.121,"body":"you coming from Australia and Ryan with"},{"speaker":"Average Joe Finances","startTime":390.371,"endTime":395.121,"body":"you jumping straight into multifamily"},{"speaker":"Average Joe Finances","startTime":395.121,"endTime":399.591,"body":"from your construction business, what was"},{"speaker":"Average Joe Finances","startTime":395.121,"endTime":399.591,"body":"that like when, the two minds collided"},{"speaker":"Average Joe Finances","startTime":399.801,"endTime":401.415,"body":"and you guys got into that first deal?"},{"speaker":"Warren Dresner","startTime":401.426,"endTime":403.856,"body":"I'll"},{"speaker":"Warren Dresner","startTime":401.426,"endTime":403.856,"body":"explain how I got into."},{"speaker":"Warren Dresner","startTime":403.859,"endTime":406.859,"body":"When I started to be active in"},{"speaker":"Warren Dresner","startTime":403.859,"endTime":406.859,"body":"multifamily, when I made the"},{"speaker":"Warren Dresner","startTime":406.864,"endTime":411.269,"body":"decision, I wanna start finding my"},{"speaker":"Warren Dresner","startTime":406.864,"endTime":411.269,"body":"own deals, I joined a mentoring group."},{"speaker":"Warren Dresner","startTime":411.664,"endTime":412.859,"body":"I, felt like I had two options."},{"speaker":"Warren Dresner","startTime":412.859,"endTime":417.149,"body":"I could start small and build up,"},{"speaker":"Warren Dresner","startTime":412.859,"endTime":417.149,"body":"buy a fourplex and then an eight"},{"speaker":"Warren Dresner","startTime":417.149,"endTime":419.039,"body":"unit and 16 unit and grow that way."},{"speaker":"Warren Dresner","startTime":419.043,"endTime":421.953,"body":"Or I could join one of these"},{"speaker":"Warren Dresner","startTime":419.043,"endTime":421.953,"body":"mentorship groups where they teach"},{"speaker":"Warren Dresner","startTime":421.953,"endTime":425.161,"body":"you how to underwrite, they build"},{"speaker":"Warren Dresner","startTime":421.953,"endTime":425.161,"body":"a network for you and go that way."},{"speaker":"Warren Dresner","startTime":425.161,"endTime":427.471,"body":"And I chose that route"},{"speaker":"Warren Dresner","startTime":425.161,"endTime":427.471,"body":"and it was great for me."},{"speaker":"Warren Dresner","startTime":427.471,"endTime":429.721,"body":"I thought the education piece was cool."},{"speaker":"Warren Dresner","startTime":429.961,"endTime":431.281,"body":"The network was amazing."},{"speaker":"Warren Dresner","startTime":431.311,"endTime":434.581,"body":"I wanted to surround myself with"},{"speaker":"Warren Dresner","startTime":431.311,"endTime":434.581,"body":"like-minded people who all wanted"},{"speaker":"Warren Dresner","startTime":434.581,"endTime":436.081,"body":"to grow in the same kind of way."},{"speaker":"Warren Dresner","startTime":436.501,"endTime":440.941,"body":"So I joined that group and just started"},{"speaker":"Warren Dresner","startTime":436.501,"endTime":440.941,"body":"underwriting deals and talking to brokers."},{"speaker":"Warren Dresner","startTime":440.941,"endTime":445.794,"body":"And probably doing that for three"},{"speaker":"Warren Dresner","startTime":440.941,"endTime":445.794,"body":"months, four months before I met Ryan."},{"speaker":"Warren Dresner","startTime":445.794,"endTime":447.204,"body":"And Ryan was doing something similar."},{"speaker":"Warren Dresner","startTime":447.204,"endTime":450.259,"body":"So we were both actually looking"},{"speaker":"Warren Dresner","startTime":447.204,"endTime":450.259,"body":"for deals in similar markets."},{"speaker":"Warren Dresner","startTime":450.263,"endTime":453.713,"body":"We met each other, we came across"},{"speaker":"Warren Dresner","startTime":450.263,"endTime":453.713,"body":"each other and realized that we"},{"speaker":"Warren Dresner","startTime":453.713,"endTime":456.803,"body":"both had similar philosophies"},{"speaker":"Warren Dresner","startTime":453.713,"endTime":456.803,"body":"about what we were looking for."},{"speaker":"Warren Dresner","startTime":456.809,"endTime":459.929,"body":"We both felt the same about"},{"speaker":"Warren Dresner","startTime":456.809,"endTime":459.929,"body":"what constitutes a good deal"},{"speaker":"Warren Dresner","startTime":459.929,"endTime":460.889,"body":"and what would be a bad deal."},{"speaker":"Warren Dresner","startTime":461.076,"endTime":464.023,"body":"And so, just the relationship"},{"speaker":"Warren Dresner","startTime":461.076,"endTime":464.023,"body":"began organically, we started"},{"speaker":"Warren Dresner","startTime":464.023,"endTime":465.163,"body":"looking at a deal together."},{"speaker":"Warren Dresner","startTime":465.403,"endTime":468.733,"body":"We didn't win it, but we enjoyed"},{"speaker":"Warren Dresner","startTime":465.403,"endTime":468.733,"body":"the process of working together."},{"speaker":"Warren Dresner","startTime":468.733,"endTime":472.663,"body":"And then from that point on, whenever I"},{"speaker":"Warren Dresner","startTime":468.733,"endTime":472.663,"body":"saw a deal that looked good, I'd talk to"},{"speaker":"Warren Dresner","startTime":472.663,"endTime":474.461,"body":"Ryan about it and he would do the same."},{"speaker":"Warren Dresner","startTime":474.461,"endTime":477.998,"body":"And slowly over time, we just"},{"speaker":"Warren Dresner","startTime":474.461,"endTime":477.998,"body":"started hunting for deals together."},{"speaker":"Average Joe Finances","startTime":478.0,"endTime":478.42,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":478.42,"endTime":479.74,"body":"Ryan, you wanna add anything to that?"},{"speaker":"Ryan Webster","startTime":479.743,"endTime":479.982,"body":"No."},{"speaker":"Ryan Webster","startTime":479.982,"endTime":483.195,"body":"I guess we can segue"},{"speaker":"Ryan Webster","startTime":479.982,"endTime":483.195,"body":"into our first deal here."},{"speaker":"Ryan Webster","startTime":483.208,"endTime":487.295,"body":"Like Warren said it, really started"},{"speaker":"Ryan Webster","startTime":483.208,"endTime":487.295,"body":"very organically, had a good idea"},{"speaker":"Ryan Webster","startTime":487.535,"endTime":488.975,"body":"of, what made a good investment."},{"speaker":"Ryan Webster","startTime":488.975,"endTime":492.335,"body":"And out of that came we"},{"speaker":"Ryan Webster","startTime":488.975,"endTime":492.335,"body":"shopped the market first."},{"speaker":"Ryan Webster","startTime":492.338,"endTime":495.908,"body":"We look for markets with strong,"},{"speaker":"Ryan Webster","startTime":492.338,"endTime":495.908,"body":"fundamental, strong growth trends that are"},{"speaker":"Ryan Webster","startTime":495.908,"endTime":499.358,"body":"gonna support the growth of the business"},{"speaker":"Ryan Webster","startTime":495.908,"endTime":499.358,"body":"and the performance of the property."},{"speaker":"Ryan Webster","startTime":499.748,"endTime":503.348,"body":"And then we dig into trying to"},{"speaker":"Ryan Webster","startTime":499.748,"endTime":503.348,"body":"find the, most quality property"},{"speaker":"Ryan Webster","startTime":503.348,"endTime":505.293,"body":"we can find in that submarket."},{"speaker":"Ryan Webster","startTime":505.295,"endTime":510.403,"body":"And we really specialize in the late"},{"speaker":"Ryan Webster","startTime":505.295,"endTime":510.403,"body":"model product this a minus space nineties"},{"speaker":"Ryan Webster","startTime":510.403,"endTime":515.863,"body":"to mid two thousands that represents an"},{"speaker":"Ryan Webster","startTime":510.403,"endTime":515.863,"body":"affordability component to the luxury"},{"speaker":"Ryan Webster","startTime":515.863,"endTime":519.943,"body":"class A space, but it's still a new"},{"speaker":"Ryan Webster","startTime":515.863,"endTime":519.943,"body":"enough property that you don't have a"},{"speaker":"Ryan Webster","startTime":519.943,"endTime":522.103,"body":"pile up of deferred maintenance you have."},{"speaker":"Ryan Webster","startTime":522.368,"endTime":527.538,"body":"Quality demographics for tenants in the"},{"speaker":"Ryan Webster","startTime":522.368,"endTime":527.538,"body":"area that's gonna allow you to build a"},{"speaker":"Ryan Webster","startTime":527.543,"endTime":529.748,"body":"well performing business in that property."},{"speaker":"Ryan Webster","startTime":529.761,"endTime":532.611,"body":"So our first deal was"},{"speaker":"Ryan Webster","startTime":529.761,"endTime":532.611,"body":"in Sarasota, Florida."},{"speaker":"Ryan Webster","startTime":532.911,"endTime":536.721,"body":"It was 148 units $26 million dollars."},{"speaker":"Ryan Webster","startTime":536.742,"endTime":540.845,"body":"And we just refinanced that"},{"speaker":"Ryan Webster","startTime":536.742,"endTime":540.845,"body":"would've been two months ago and"},{"speaker":"Ryan Webster","startTime":540.905,"endTime":543.5,"body":"pulled out about five and a half"},{"speaker":"Ryan Webster","startTime":540.905,"endTime":543.5,"body":"million of equity out of that deal."},{"speaker":"Average Joe Finances","startTime":543.501,"endTime":543.826,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":543.826,"endTime":547.536,"body":"Now, for this first deal, was this a"},{"speaker":"Average Joe Finances","startTime":543.826,"endTime":547.536,"body":"joint venture or is it a syndication?"},{"speaker":"Average Joe Finances","startTime":547.536,"endTime":549.066,"body":"Did you guys raise capital for this?"},{"speaker":"Ryan Webster","startTime":549.083,"endTime":550.103,"body":"A little bit of both."},{"speaker":"Ryan Webster","startTime":550.463,"endTime":554.37,"body":"So we had some institutional"},{"speaker":"Ryan Webster","startTime":550.463,"endTime":554.37,"body":"capital and then we also raised"},{"speaker":"Ryan Webster","startTime":554.37,"endTime":555.687,"body":"the common equity behind that."},{"speaker":"Average Joe Finances","startTime":555.687,"endTime":556.52,"body":"All right, fantastic."},{"speaker":"Average Joe Finances","startTime":556.52,"endTime":559.62,"body":"So you guys just repositioned,"},{"speaker":"Average Joe Finances","startTime":556.52,"endTime":559.62,"body":"you said a year ago?"},{"speaker":"Ryan Webster","startTime":559.638,"endTime":560.833,"body":"Refinanced"},{"speaker":"Ryan Webster","startTime":559.638,"endTime":560.833,"body":"a couple months ago."},{"speaker":"Average Joe Finances","startTime":561.133,"endTime":561.373,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":561.373,"endTime":563.443,"body":"Couple months ago, and you"},{"speaker":"Average Joe Finances","startTime":561.373,"endTime":563.443,"body":"pulled out 5 million in equity."},{"speaker":"Average Joe Finances","startTime":563.45,"endTime":566.69,"body":"Did you buy your investors out or"},{"speaker":"Average Joe Finances","startTime":563.45,"endTime":566.69,"body":"are they still part of the deal?"},{"speaker":"Ryan Webster","startTime":567.36,"endTime":568.19,"body":"They're"},{"speaker":"Ryan Webster","startTime":567.36,"endTime":568.19,"body":"still part of the deal."},{"speaker":"Average Joe Finances","startTime":568.7,"endTime":569.15,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":569.18,"endTime":569.6,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":569.6,"endTime":570.05,"body":"Right on."},{"speaker":"Average Joe Finances","startTime":570.26,"endTime":573.35,"body":"And then, so you were able to pull"},{"speaker":"Average Joe Finances","startTime":570.26,"endTime":573.35,"body":"5 million out, distribute that,"},{"speaker":"Average Joe Finances","startTime":573.35,"endTime":577.22,"body":"make people very happy and, keep the"},{"speaker":"Average Joe Finances","startTime":573.35,"endTime":577.22,"body":"deal moving and keeping it alive."},{"speaker":"Average Joe Finances","startTime":577.76,"endTime":581.18,"body":"And of course, obviously even with the"},{"speaker":"Average Joe Finances","startTime":577.76,"endTime":581.18,"body":"refinance, it's still cash flowing."},{"speaker":"Average Joe Finances","startTime":581.48,"endTime":581.75,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":581.78,"endTime":582.44,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":582.445,"endTime":585.08,"body":"So that, what a great"},{"speaker":"Average Joe Finances","startTime":582.445,"endTime":585.08,"body":"first deal to start off."},{"speaker":"Average Joe Finances","startTime":585.098,"endTime":587.133,"body":"It sounds very intimidating"},{"speaker":"Average Joe Finances","startTime":585.098,"endTime":587.133,"body":"when you look at it, right?"},{"speaker":"Average Joe Finances","startTime":587.133,"endTime":589.633,"body":"A 26 million dollar acquisition."},{"speaker":"Average Joe Finances","startTime":589.923,"endTime":593.373,"body":"You guys were able to come together as"},{"speaker":"Average Joe Finances","startTime":589.923,"endTime":593.373,"body":"a team and raise the capital and you"},{"speaker":"Average Joe Finances","startTime":593.373,"endTime":595.023,"body":"already had some institutional capital."},{"speaker":"Average Joe Finances","startTime":595.323,"endTime":595.983,"body":"That's awesome."},{"speaker":"Average Joe Finances","startTime":596.253,"endTime":600.073,"body":"Now you guys both have the same"},{"speaker":"Average Joe Finances","startTime":596.253,"endTime":600.073,"body":"fundamentals and you're looking for the"},{"speaker":"Average Joe Finances","startTime":600.073,"endTime":601.813,"body":"same qualities in a property, right?"},{"speaker":"Average Joe Finances","startTime":602.113,"endTime":607.263,"body":"When it comes to syncing up have you"},{"speaker":"Average Joe Finances","startTime":602.113,"endTime":607.263,"body":"found that there was any particular"},{"speaker":"Average Joe Finances","startTime":607.263,"endTime":611.133,"body":"things that worked out better for you"},{"speaker":"Average Joe Finances","startTime":607.263,"endTime":611.133,"body":"guys that you see other partnerships"},{"speaker":"Average Joe Finances","startTime":611.133,"endTime":612.423,"body":"that might need to work on more?"},{"speaker":"Average Joe Finances","startTime":612.723,"endTime":616.533,"body":"I guess an example would be just like"},{"speaker":"Average Joe Finances","startTime":612.723,"endTime":616.533,"body":"your, like the KPIs that you guys look."},{"speaker":"Average Joe Finances","startTime":616.833,"endTime":617.853,"body":"Different things like that."},{"speaker":"Average Joe Finances","startTime":618.153,"endTime":620.593,"body":"It was the two of you being"},{"speaker":"Average Joe Finances","startTime":618.153,"endTime":620.593,"body":"able to sync up and making sure"},{"speaker":"Average Joe Finances","startTime":620.593,"endTime":621.763,"body":"that you're on the same page."},{"speaker":"Average Joe Finances","startTime":622.063,"endTime":624.493,"body":"And actually not, just the two"},{"speaker":"Average Joe Finances","startTime":622.063,"endTime":624.493,"body":"of you, but did you bring anybody"},{"speaker":"Average Joe Finances","startTime":624.493,"endTime":627.849,"body":"else in to the team, especially for"},{"speaker":"Average Joe Finances","startTime":624.493,"endTime":627.849,"body":"this first deal that may have had a"},{"speaker":"Average Joe Finances","startTime":627.849,"endTime":629.589,"body":"differing opinion on certain things?"},{"speaker":"Average Joe Finances","startTime":630.069,"endTime":633.196,"body":"What I guess what I'm really trying to"},{"speaker":"Average Joe Finances","startTime":630.069,"endTime":633.196,"body":"get at is the whole team building aspect."},{"speaker":"Average Joe Finances","startTime":633.201,"endTime":636.886,"body":"How did you get everybody to"},{"speaker":"Average Joe Finances","startTime":633.201,"endTime":636.886,"body":"come together to be one mind"},{"speaker":"Average Joe Finances","startTime":636.889,"endTime":638.089,"body":"during the underwriting process?"},{"speaker":"Average Joe Finances","startTime":638.326,"endTime":640.426,"body":"How you found the deal"},{"speaker":"Average Joe Finances","startTime":638.326,"endTime":640.426,"body":"and, everything like that?"},{"speaker":"Average Joe Finances","startTime":640.666,"endTime":641.386,"body":"Does that make sense?"},{"speaker":"Average Joe Finances","startTime":641.686,"endTime":643.156,"body":"And I'm all over the"},{"speaker":"Average Joe Finances","startTime":641.686,"endTime":643.156,"body":"place with that question."},{"speaker":"Warren Dresner","startTime":643.356,"endTime":646.386,"body":"I guess one thing that"},{"speaker":"Warren Dresner","startTime":643.356,"endTime":646.386,"body":"comes to mind, like when you're asking"},{"speaker":"Warren Dresner","startTime":646.386,"endTime":648.906,"body":"that question is it's all about teamwork."},{"speaker":"Warren Dresner","startTime":649.416,"endTime":651.366,"body":"And Ryan mentioned"},{"speaker":"Warren Dresner","startTime":649.416,"endTime":651.366,"body":"mindset at the beginning."},{"speaker":"Warren Dresner","startTime":651.396,"endTime":654.046,"body":"When you go big you need the"},{"speaker":"Warren Dresner","startTime":651.396,"endTime":654.046,"body":"mindset to really believe that"},{"speaker":"Warren Dresner","startTime":654.046,"endTime":655.486,"body":"you can take down these big deals."},{"speaker":"Warren Dresner","startTime":655.756,"endTime":657.436,"body":"And another big aspect is teamwork."},{"speaker":"Warren Dresner","startTime":657.736,"endTime":660.796,"body":"To take down a 26 million dollar"},{"speaker":"Warren Dresner","startTime":657.736,"endTime":660.796,"body":"deal, it's not something that just"},{"speaker":"Warren Dresner","startTime":660.796,"endTime":661.796,"body":"the two of us could do on our own."},{"speaker":"Warren Dresner","startTime":662.026,"endTime":667.216,"body":"We did bring in an institutional partner"},{"speaker":"Warren Dresner","startTime":662.026,"endTime":667.216,"body":"who brought $7 million of equity and, that"},{"speaker":"Warren Dresner","startTime":667.216,"endTime":670.786,"body":"was a relationship that we were building"},{"speaker":"Warren Dresner","startTime":667.216,"endTime":670.786,"body":"for months before we ever found the deal."},{"speaker":"Warren Dresner","startTime":670.799,"endTime":673.169,"body":"We also had a much broader team."},{"speaker":"Warren Dresner","startTime":673.174,"endTime":676.589,"body":"Our property management company that"},{"speaker":"Warren Dresner","startTime":673.174,"endTime":676.589,"body":"we developed a relationship with is a"},{"speaker":"Warren Dresner","startTime":676.594,"endTime":678.559,"body":"key partner in everything that we do."},{"speaker":"Warren Dresner","startTime":678.579,"endTime":682.629,"body":"They not only manage the assets, but they"},{"speaker":"Warren Dresner","startTime":678.579,"endTime":682.629,"body":"helped us on the acquisition side as well."},{"speaker":"Warren Dresner","startTime":682.809,"endTime":686.079,"body":"So every time we're looking at"},{"speaker":"Warren Dresner","startTime":682.809,"endTime":686.079,"body":"deals, we get their view and"},{"speaker":"Warren Dresner","startTime":686.079,"endTime":687.349,"body":"they help to underwrite it.."},{"speaker":"Warren Dresner","startTime":687.639,"endTime":691.073,"body":"They give a lot of insight and on"},{"speaker":"Warren Dresner","startTime":687.639,"endTime":691.073,"body":"this deal, they were a key partner"},{"speaker":"Warren Dresner","startTime":691.073,"endTime":693.743,"body":"as well because they had certain"},{"speaker":"Warren Dresner","startTime":691.073,"endTime":693.743,"body":"insights about the market, about"},{"speaker":"Warren Dresner","startTime":693.743,"endTime":696.736,"body":"the property, and that was key to"},{"speaker":"Warren Dresner","startTime":693.743,"endTime":696.736,"body":"forming our view of the whole thing."},{"speaker":"Warren Dresner","startTime":696.759,"endTime":699.729,"body":"And then we brought in other partners"},{"speaker":"Warren Dresner","startTime":696.759,"endTime":699.729,"body":"as well who helped us with other aspects"},{"speaker":"Warren Dresner","startTime":699.729,"endTime":705.069,"body":"of the deal, whether it's earn us money,"},{"speaker":"Warren Dresner","startTime":699.729,"endTime":705.069,"body":"raising capital, parts of the asset"},{"speaker":"Warren Dresner","startTime":705.069,"endTime":706.899,"body":"management, investor communication."},{"speaker":"Warren Dresner","startTime":707.199,"endTime":711.249,"body":"So it's very much a team effort and"},{"speaker":"Warren Dresner","startTime":707.199,"endTime":711.249,"body":"it's all about building that team"},{"speaker":"Warren Dresner","startTime":711.429,"endTime":712.779,"body":"in order to take down the deal."},{"speaker":"Average Joe Finances","startTime":713.079,"endTime":713.854,"body":"No, that's a great point."},{"speaker":"Average Joe Finances","startTime":713.974,"endTime":717.664,"body":"I guess where I was going with that"},{"speaker":"Average Joe Finances","startTime":713.974,"endTime":717.664,"body":"as well is just the, actual process"},{"speaker":"Average Joe Finances","startTime":717.664,"endTime":721.634,"body":"of building the team so how did you"},{"speaker":"Average Joe Finances","startTime":717.664,"endTime":721.634,"body":"bring all these people together?"},{"speaker":"Average Joe Finances","startTime":721.634,"endTime":725.294,"body":"So the two of you met right as you"},{"speaker":"Average Joe Finances","startTime":721.634,"endTime":725.294,"body":"were both searching for deals, right?"},{"speaker":"Average Joe Finances","startTime":725.294,"endTime":728.474,"body":"You were doing your mentorship"},{"speaker":"Average Joe Finances","startTime":725.294,"endTime":728.474,"body":"program and looking and practicing"},{"speaker":"Average Joe Finances","startTime":728.474,"endTime":730.484,"body":"underwriting deals and, things like that."},{"speaker":"Average Joe Finances","startTime":730.754,"endTime":734.378,"body":"And that's when you ran into Ryan and"},{"speaker":"Average Joe Finances","startTime":730.754,"endTime":734.378,"body":"you guys formed this alliance, right?"},{"speaker":"Average Joe Finances","startTime":734.378,"endTime":736.208,"body":"To form this this, business."},{"speaker":"Average Joe Finances","startTime":736.568,"endTime":741.034,"body":"Now, how did you go about finding the"},{"speaker":"Average Joe Finances","startTime":736.568,"endTime":741.034,"body":"property management company and building"},{"speaker":"Average Joe Finances","startTime":741.034,"endTime":744.274,"body":"these relationships with the other people"},{"speaker":"Average Joe Finances","startTime":741.034,"endTime":744.274,"body":"that all made this deal come together?"},{"speaker":"Warren Dresner","startTime":744.574,"endTime":748.534,"body":"It's tricky because"},{"speaker":"Warren Dresner","startTime":744.574,"endTime":748.534,"body":"you have to do everything all at once."},{"speaker":"Warren Dresner","startTime":748.534,"endTime":752.224,"body":"So from the very beginning we"},{"speaker":"Warren Dresner","startTime":748.534,"endTime":752.224,"body":"were out there looking for deals."},{"speaker":"Warren Dresner","startTime":752.344,"endTime":755.074,"body":"At the same time, we were out"},{"speaker":"Warren Dresner","startTime":752.344,"endTime":755.074,"body":"there building relationships"},{"speaker":"Warren Dresner","startTime":755.074,"endTime":756.454,"body":"with institutional equity."},{"speaker":"Warren Dresner","startTime":756.904,"endTime":761.584,"body":"We were building relationships with other"},{"speaker":"Warren Dresner","startTime":756.904,"endTime":761.584,"body":"syndicators who had an interest in Florida"},{"speaker":"Warren Dresner","startTime":761.584,"endTime":763.244,"body":"and had an interest in what we were doing."},{"speaker":"Warren Dresner","startTime":763.734,"endTime":767.794,"body":"So by the time we found a deal, we"},{"speaker":"Warren Dresner","startTime":763.734,"endTime":767.794,"body":"already had a list of potential partners"},{"speaker":"Warren Dresner","startTime":767.794,"endTime":769.054,"body":"that we would bring into the deal."},{"speaker":"Warren Dresner","startTime":769.064,"endTime":770.624,"body":"Same with the property management company."},{"speaker":"Warren Dresner","startTime":771.074,"endTime":774.524,"body":"I know when I first started,"},{"speaker":"Warren Dresner","startTime":771.074,"endTime":774.524,"body":"I was talking to three or four"},{"speaker":"Warren Dresner","startTime":774.524,"endTime":777.524,"body":"property management companies,"},{"speaker":"Warren Dresner","startTime":774.524,"endTime":777.524,"body":"and Ryan would've been the same."},{"speaker":"Warren Dresner","startTime":778.094,"endTime":781.094,"body":"And so we were constantly just"},{"speaker":"Warren Dresner","startTime":778.094,"endTime":781.094,"body":"building relationships with"},{"speaker":"Warren Dresner","startTime":781.094,"endTime":781.964,"body":"all sorts of team members."},{"speaker":"Warren Dresner","startTime":782.594,"endTime":785.894,"body":"Over time, we started to gravitate"},{"speaker":"Warren Dresner","startTime":782.594,"endTime":785.894,"body":"more towards this property management"},{"speaker":"Warren Dresner","startTime":785.894,"endTime":788.234,"body":"company, and same with insurance brokers."},{"speaker":"Warren Dresner","startTime":788.234,"endTime":789.554,"body":"That's another key team member."},{"speaker":"Warren Dresner","startTime":789.914,"endTime":793.304,"body":"We have a relationship with an insurance"},{"speaker":"Warren Dresner","startTime":789.914,"endTime":793.304,"body":"broker and they were getting us quote, For"},{"speaker":"Warren Dresner","startTime":793.304,"endTime":796.364,"body":"insurance as we were underwriting deals."},{"speaker":"Warren Dresner","startTime":796.874,"endTime":800.354,"body":"So the way we brought the team"},{"speaker":"Warren Dresner","startTime":796.874,"endTime":800.354,"body":"together was really just by focusing"},{"speaker":"Warren Dresner","startTime":800.354,"endTime":803.984,"body":"on building relationships right from"},{"speaker":"Warren Dresner","startTime":800.354,"endTime":803.984,"body":"the get go, Not waiting until we"},{"speaker":"Warren Dresner","startTime":803.984,"endTime":807.434,"body":"won the deal, and then figuring out"},{"speaker":"Warren Dresner","startTime":803.984,"endTime":807.434,"body":"who can we help to take this down."},{"speaker":"Warren Dresner","startTime":807.974,"endTime":811.274,"body":"We've really gotta preempt the deal"},{"speaker":"Warren Dresner","startTime":807.974,"endTime":811.274,"body":"and start building relationships"},{"speaker":"Warren Dresner","startTime":811.274,"endTime":812.114,"body":"from the very beginning."},{"speaker":"Average Joe Finances","startTime":812.131,"endTime":812.671,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":813.031,"endTime":815.101,"body":"I think that's what I was trying"},{"speaker":"Average Joe Finances","startTime":813.031,"endTime":815.101,"body":"to pull outta you, that's great."},{"speaker":"Average Joe Finances","startTime":815.101,"endTime":818.078,"body":"Yeah, cuz you know that's, one of the key"},{"speaker":"Average Joe Finances","startTime":815.101,"endTime":818.078,"body":"things that you said too, like it wasn't"},{"speaker":"Average Joe Finances","startTime":818.078,"endTime":819.878,"body":"just building like a network, right?"},{"speaker":"Average Joe Finances","startTime":819.883,"endTime":821.468,"body":"Cause people always tell"},{"speaker":"Average Joe Finances","startTime":819.883,"endTime":821.468,"body":"Oh yeah building network."},{"speaker":"Average Joe Finances","startTime":821.473,"endTime":821.828,"body":"Networking."},{"speaker":"Average Joe Finances","startTime":821.828,"endTime":822.308,"body":"Networking."},{"speaker":"Average Joe Finances","startTime":822.488,"endTime":824.048,"body":"I talk about networking all the time too."},{"speaker":"Average Joe Finances","startTime":824.438,"endTime":828.173,"body":"But the other key component of"},{"speaker":"Average Joe Finances","startTime":824.438,"endTime":828.173,"body":"building a network, Is not everyone"},{"speaker":"Average Joe Finances","startTime":828.173,"endTime":830.573,"body":"in your network is somebody that"},{"speaker":"Average Joe Finances","startTime":828.173,"endTime":830.573,"body":"you have a relationship with, right?"},{"speaker":"Average Joe Finances","startTime":830.783,"endTime":832.553,"body":"So you have to build those relationships."},{"speaker":"Average Joe Finances","startTime":832.553,"endTime":836.723,"body":"You have to get closer with other people"},{"speaker":"Average Joe Finances","startTime":832.553,"endTime":836.723,"body":"that you bring on your team, right?"},{"speaker":"Average Joe Finances","startTime":836.723,"endTime":839.903,"body":"It's gotta be more than just,"},{"speaker":"Average Joe Finances","startTime":836.723,"endTime":839.903,"body":"Oh, hey, I know a guy, right?"},{"speaker":"Average Joe Finances","startTime":839.903,"endTime":843.923,"body":"There needs to be that, relationship"},{"speaker":"Average Joe Finances","startTime":839.903,"endTime":843.923,"body":"aspect that you build up together."},{"speaker":"Average Joe Finances","startTime":843.939,"endTime":844.603,"body":"No that's, huge."},{"speaker":"Warren Dresner","startTime":844.993,"endTime":849.133,"body":"And there are definite"},{"speaker":"Warren Dresner","startTime":844.993,"endTime":849.133,"body":"roles that you need on every team."},{"speaker":"Warren Dresner","startTime":849.193,"endTime":851.413,"body":"So we need to find a deal."},{"speaker":"Warren Dresner","startTime":851.413,"endTime":854.173,"body":"We need to have relationships"},{"speaker":"Warren Dresner","startTime":851.413,"endTime":854.173,"body":"with brokers to find a deal."},{"speaker":"Warren Dresner","startTime":854.183,"endTime":857.663,"body":"We need a relationship with an"},{"speaker":"Warren Dresner","startTime":854.183,"endTime":857.663,"body":"insurance broker to help pricing the"},{"speaker":"Warren Dresner","startTime":857.663,"endTime":862.223,"body":"insurance, maybe a tax consultant to"},{"speaker":"Warren Dresner","startTime":857.663,"endTime":862.223,"body":"help understand the tax implications"},{"speaker":"Warren Dresner","startTime":862.463,"endTime":864.083,"body":"with a property management company."},{"speaker":"Warren Dresner","startTime":864.623,"endTime":867.473,"body":"And then when you go and get a loan,"},{"speaker":"Warren Dresner","startTime":864.623,"endTime":867.473,"body":"you need people who can be a key"},{"speaker":"Warren Dresner","startTime":867.478,"endTime":870.683,"body":"partner on the loan and they need"},{"speaker":"Warren Dresner","startTime":867.478,"endTime":870.683,"body":"experience net worth liquidity."},{"speaker":"Warren Dresner","startTime":871.133,"endTime":874.493,"body":"You need the ability to raise capital,"},{"speaker":"Warren Dresner","startTime":871.133,"endTime":874.493,"body":"you need to put down earnest money,"},{"speaker":"Warren Dresner","startTime":874.493,"endTime":876.893,"body":"put certain risk, capital at risk."},{"speaker":"Warren Dresner","startTime":877.193,"endTime":879.233,"body":"So there are all these things,"},{"speaker":"Warren Dresner","startTime":877.193,"endTime":879.233,"body":"all these building blocks"},{"speaker":"Warren Dresner","startTime":879.233,"endTime":880.283,"body":"that need to come into place."},{"speaker":"Warren Dresner","startTime":880.283,"endTime":884.346,"body":"And the whole concept of networking is"},{"speaker":"Warren Dresner","startTime":880.283,"endTime":884.346,"body":"about building the team and making sure"},{"speaker":"Warren Dresner","startTime":884.406,"endTime":886.326,"body":"every one of those roles is filled."},{"speaker":"Average Joe Finances","startTime":886.626,"endTime":886.926,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":887.106,"endTime":887.736,"body":"That's huge."},{"speaker":"Average Joe Finances","startTime":887.736,"endTime":888.666,"body":"That's huge for sure."},{"speaker":"Average Joe Finances","startTime":889.536,"endTime":894.096,"body":"Now when you put the team together and"},{"speaker":"Average Joe Finances","startTime":889.536,"endTime":894.096,"body":"now you got the deal, everything's going,"},{"speaker":"Average Joe Finances","startTime":894.096,"endTime":896.376,"body":"you get to the closing table, right?"},{"speaker":"Average Joe Finances","startTime":896.706,"endTime":899.136,"body":"You get the deal closed,"},{"speaker":"Average Joe Finances","startTime":896.706,"endTime":899.136,"body":"boom, everything's done."},{"speaker":"Average Joe Finances","startTime":899.556,"endTime":904.716,"body":"Now how do you go about, now you have"},{"speaker":"Average Joe Finances","startTime":899.556,"endTime":904.716,"body":"this $26 million asset, How do you go"},{"speaker":"Average Joe Finances","startTime":904.746,"endTime":909.036,"body":"about managing it now to keep it on track"},{"speaker":"Average Joe Finances","startTime":904.746,"endTime":909.036,"body":"to make sure that you're doing what's"},{"speaker":"Average Joe Finances","startTime":909.036,"endTime":913.356,"body":"right by your investors, but also what's"},{"speaker":"Average Joe Finances","startTime":909.036,"endTime":913.356,"body":"right by the the residents that live?"},{"speaker":"Ryan Webster","startTime":913.656,"endTime":914.046,"body":"Yeah."},{"speaker":"Ryan Webster","startTime":914.256,"endTime":917.376,"body":"That's really when you know my"},{"speaker":"Ryan Webster","startTime":914.256,"endTime":917.376,"body":"opinion, where the real work starts."},{"speaker":"Ryan Webster","startTime":917.856,"endTime":922.039,"body":"And back to modernize alignment in"},{"speaker":"Ryan Webster","startTime":917.856,"endTime":922.039,"body":"what we think makes a good investment"},{"speaker":"Ryan Webster","startTime":922.044,"endTime":925.376,"body":"and more importantly how we think"},{"speaker":"Ryan Webster","startTime":922.044,"endTime":925.376,"body":"a business should be operated."},{"speaker":"Ryan Webster","startTime":925.916,"endTime":929.486,"body":"And we founded Equity Yield"},{"speaker":"Ryan Webster","startTime":925.916,"endTime":929.486,"body":"Group on kind of two principles."},{"speaker":"Ryan Webster","startTime":929.846,"endTime":934.526,"body":"One I wish was providing investments"},{"speaker":"Ryan Webster","startTime":929.846,"endTime":934.526,"body":"that generated solid risk adjusted"},{"speaker":"Ryan Webster","startTime":934.526,"endTime":936.116,"body":"returns for our investors."},{"speaker":"Ryan Webster","startTime":936.416,"endTime":940.533,"body":"And then clear transparent"},{"speaker":"Ryan Webster","startTime":936.416,"endTime":940.533,"body":"communication with investors."},{"speaker":"Ryan Webster","startTime":940.833,"endTime":945.213,"body":"So once the deal's closed it's"},{"speaker":"Ryan Webster","startTime":940.833,"endTime":945.213,"body":"really about we have our business"},{"speaker":"Ryan Webster","startTime":945.213,"endTime":949.623,"body":"plan we've put together, and then we"},{"speaker":"Ryan Webster","startTime":945.213,"endTime":949.623,"body":"have our management team to run the"},{"speaker":"Ryan Webster","startTime":949.623,"endTime":951.213,"body":"day to day operations, the property."},{"speaker":"Ryan Webster","startTime":951.513,"endTime":956.073,"body":"It's about checking on a weekly basis"},{"speaker":"Ryan Webster","startTime":951.513,"endTime":956.073,"body":"or daily basis, depending on what needs"},{"speaker":"Ryan Webster","startTime":956.073,"endTime":959.343,"body":"be, if, are you on track with that"},{"speaker":"Ryan Webster","startTime":956.073,"endTime":959.343,"body":"business plan and taking a look at."},{"speaker":"Ryan Webster","startTime":959.988,"endTime":964.788,"body":"The key performance metrics"},{"speaker":"Ryan Webster","startTime":959.988,"endTime":964.788,"body":"day by day and, see is this on?"},{"speaker":"Ryan Webster","startTime":964.788,"endTime":966.918,"body":"Is this on or does this need to be moved?"},{"speaker":"Ryan Webster","startTime":966.948,"endTime":968.118,"body":"Or do we need to pivot here?"},{"speaker":"Ryan Webster","startTime":968.418,"endTime":972.438,"body":"And this one of the things I like"},{"speaker":"Ryan Webster","startTime":968.418,"endTime":972.438,"body":"about our business model is we do"},{"speaker":"Ryan Webster","startTime":972.443,"endTime":974.748,"body":"still operate in the value add space."},{"speaker":"Ryan Webster","startTime":975.018,"endTime":978.918,"body":"So we're able to give something back"},{"speaker":"Ryan Webster","startTime":975.018,"endTime":978.918,"body":"to the community and back to the"},{"speaker":"Ryan Webster","startTime":978.918,"endTime":982.708,"body":"residents through improvements and"},{"speaker":"Ryan Webster","startTime":978.918,"endTime":982.708,"body":"renovations on the property, as well"},{"speaker":"Ryan Webster","startTime":982.708,"endTime":984.958,"body":"as generate returns for our investors."},{"speaker":"Average Joe Finances","startTime":985.258,"endTime":986.188,"body":"No that's, great."},{"speaker":"Average Joe Finances","startTime":986.188,"endTime":989.668,"body":"And the first thing that I pointed out"},{"speaker":"Average Joe Finances","startTime":986.188,"endTime":989.668,"body":"here, or that I wanna point out here that"},{"speaker":"Average Joe Finances","startTime":989.668,"endTime":993.388,"body":"you said when I asked that question is"},{"speaker":"Average Joe Finances","startTime":989.668,"endTime":993.388,"body":"when you get to the closing table, you"},{"speaker":"Average Joe Finances","startTime":993.388,"endTime":995.028,"body":"said that's when the real work begin."},{"speaker":"Average Joe Finances","startTime":995.328,"endTime":998.898,"body":"That's huge cuz that shows your commitment"},{"speaker":"Average Joe Finances","startTime":995.328,"endTime":998.898,"body":"to, hey, you didn't just get to the"},{"speaker":"Average Joe Finances","startTime":998.898,"endTime":1003.531,"body":"closing table and now walking away saying,"},{"speaker":"Average Joe Finances","startTime":998.898,"endTime":1003.531,"body":"Okay, our job's done we'll, let this kind"},{"speaker":"Average Joe Finances","startTime":1003.531,"endTime":1005.448,"body":"of just run itself and run its course."},{"speaker":"Average Joe Finances","startTime":1005.538,"endTime":1010.186,"body":"No, you're constantly keeping track of"},{"speaker":"Average Joe Finances","startTime":1005.538,"endTime":1010.186,"body":"what's going on, updating your investors."},{"speaker":"Average Joe Finances","startTime":1010.186,"endTime":1014.564,"body":"And as somebody who is a living in"},{"speaker":"Average Joe Finances","startTime":1010.186,"endTime":1014.564,"body":"partner on a couple syndication deals I"},{"speaker":"Average Joe Finances","startTime":1014.564,"endTime":1016.904,"body":"think that's one of the most important"},{"speaker":"Average Joe Finances","startTime":1014.564,"endTime":1016.904,"body":"things you could do is just making sure"},{"speaker":"Average Joe Finances","startTime":1016.904,"endTime":1021.223,"body":"you're keeping everybody updated and"},{"speaker":"Average Joe Finances","startTime":1016.904,"endTime":1021.223,"body":"Proving that the, underwriting that you"},{"speaker":"Average Joe Finances","startTime":1021.223,"endTime":1025.813,"body":"guys did to get to the closing table is"},{"speaker":"Average Joe Finances","startTime":1021.223,"endTime":1025.813,"body":"what's really happening at this point."},{"speaker":"Average Joe Finances","startTime":1025.863,"endTime":1029.373,"body":"Especially with the way the market's"},{"speaker":"Average Joe Finances","startTime":1025.863,"endTime":1029.373,"body":"shifting right now, you see a lot"},{"speaker":"Average Joe Finances","startTime":1029.373,"endTime":1034.743,"body":"of people are just rushing to get to"},{"speaker":"Average Joe Finances","startTime":1029.373,"endTime":1034.743,"body":"closing and it's not exactly playing out"},{"speaker":"Average Joe Finances","startTime":1034.743,"endTime":1036.723,"body":"the way that they underwrote the deal."},{"speaker":"Average Joe Finances","startTime":1036.739,"endTime":1039.019,"body":"You're starting to see a lot of"},{"speaker":"Average Joe Finances","startTime":1036.739,"endTime":1039.019,"body":"that right now, unfortunately."},{"speaker":"Average Joe Finances","startTime":1039.019,"endTime":1043.936,"body":"So the integrity of the team that's"},{"speaker":"Average Joe Finances","startTime":1039.019,"endTime":1043.936,"body":"together, I think is super important."},{"speaker":"Average Joe Finances","startTime":1043.936,"endTime":1048.339,"body":"And it sounds like you guys are really"},{"speaker":"Average Joe Finances","startTime":1043.936,"endTime":1048.339,"body":"good team of together when it comes"},{"speaker":"Average Joe Finances","startTime":1048.344,"endTime":1052.389,"body":"to your integrity and, sticking with"},{"speaker":"Average Joe Finances","startTime":1048.344,"endTime":1052.389,"body":"what works for you guys and, what"},{"speaker":"Average Joe Finances","startTime":1052.389,"endTime":1055.119,"body":"works as as a general partner, right?"},{"speaker":"Average Joe Finances","startTime":1055.319,"endTime":1058.099,"body":"So one of the topics that you guys want"},{"speaker":"Average Joe Finances","startTime":1055.319,"endTime":1058.099,"body":"to talk about and that I wanna talk"},{"speaker":"Average Joe Finances","startTime":1058.099,"endTime":1062.179,"body":"about as well, and we touched on it a"},{"speaker":"Average Joe Finances","startTime":1058.099,"endTime":1062.179,"body":"little bit, is just the, building teams"},{"speaker":"Average Joe Finances","startTime":1062.179,"endTime":1063.469,"body":"for successful syndications, right?"},{"speaker":"Average Joe Finances","startTime":1063.469,"endTime":1066.379,"body":"So you talked about how you"},{"speaker":"Average Joe Finances","startTime":1063.469,"endTime":1066.379,"body":"pieced everybody together and"},{"speaker":"Average Joe Finances","startTime":1066.379,"endTime":1069.589,"body":"you talked about how you had to"},{"speaker":"Average Joe Finances","startTime":1066.379,"endTime":1069.589,"body":"build a relationship to get there."},{"speaker":"Average Joe Finances","startTime":1069.789,"endTime":1074.949,"body":"Now, after you build these relationships"},{"speaker":"Average Joe Finances","startTime":1069.789,"endTime":1074.949,"body":"and you find the deal that you want to do,"},{"speaker":"Average Joe Finances","startTime":1075.309,"endTime":1078.699,"body":"how do you go about asking these people"},{"speaker":"Average Joe Finances","startTime":1075.309,"endTime":1078.699,"body":"that you've built relationships with"},{"speaker":"Average Joe Finances","startTime":1078.699,"endTime":1082.299,"body":"to say, Hey, we've got this deal coming"},{"speaker":"Average Joe Finances","startTime":1078.699,"endTime":1082.299,"body":"up and we want you to be a part of it."},{"speaker":"Average Joe Finances","startTime":1082.749,"endTime":1085.299,"body":"How do you go about asking"},{"speaker":"Average Joe Finances","startTime":1082.749,"endTime":1085.299,"body":"them to be a part of that deal?"},{"speaker":"Warren Dresner","startTime":1085.549,"endTime":1088.789,"body":"So one thing"},{"speaker":"Warren Dresner","startTime":1085.549,"endTime":1088.789,"body":"about the way we work is we, try"},{"speaker":"Warren Dresner","startTime":1088.789,"endTime":1090.289,"body":"and be as organized as possible."},{"speaker":"Warren Dresner","startTime":1090.619,"endTime":1093.079,"body":"So it's always a little tricky."},{"speaker":"Warren Dresner","startTime":1093.079,"endTime":1096.919,"body":"It's a chicken and egg thing"},{"speaker":"Warren Dresner","startTime":1093.079,"endTime":1096.919,"body":"because we need the, we need to"},{"speaker":"Warren Dresner","startTime":1096.919,"endTime":1100.729,"body":"win the deal in order to really"},{"speaker":"Warren Dresner","startTime":1096.919,"endTime":1100.729,"body":"start building that team properly."},{"speaker":"Warren Dresner","startTime":1100.879,"endTime":1104.044,"body":"But we don't wanna wait until we win"},{"speaker":"Warren Dresner","startTime":1100.879,"endTime":1104.044,"body":"the deal because then we're already"},{"speaker":"Warren Dresner","startTime":1104.044,"endTime":1107.578,"body":"on the clock, and usually we've"},{"speaker":"Warren Dresner","startTime":1104.044,"endTime":1107.578,"body":"got 60 days to close these deals."},{"speaker":"Warren Dresner","startTime":1107.581,"endTime":1111.691,"body":"So generally, even before we won it, when"},{"speaker":"Warren Dresner","startTime":1107.581,"endTime":1111.691,"body":"we feel like we're getting close, we'll"},{"speaker":"Warren Dresner","startTime":1111.696,"endTime":1113.641,"body":"start to have conversations with people."},{"speaker":"Warren Dresner","startTime":1113.731,"endTime":1117.961,"body":"We'll start to share the underwriting and"},{"speaker":"Warren Dresner","startTime":1113.731,"endTime":1117.961,"body":"say, What do you think about this deal?"},{"speaker":"Warren Dresner","startTime":1118.381,"endTime":1120.151,"body":"We think we've got a good"},{"speaker":"Warren Dresner","startTime":1118.381,"endTime":1120.151,"body":"chance of winning it?"},{"speaker":"Warren Dresner","startTime":1120.451,"endTime":1121.561,"body":"Do you wanna be a part of it?"},{"speaker":"Warren Dresner","startTime":1121.591,"endTime":1124.051,"body":"And we'll start to"},{"speaker":"Warren Dresner","startTime":1121.591,"endTime":1124.051,"body":"build the team that way."},{"speaker":"Warren Dresner","startTime":1124.531,"endTime":1127.781,"body":"So generally, by the time we've"},{"speaker":"Warren Dresner","startTime":1124.531,"endTime":1127.781,"body":"won the deal, we've pretty"},{"speaker":"Warren Dresner","startTime":1127.801,"endTime":1129.241,"body":"much got that team in place."},{"speaker":"Warren Dresner","startTime":1129.271,"endTime":1131.101,"body":"We're confident we can"},{"speaker":"Warren Dresner","startTime":1129.271,"endTime":1131.101,"body":"raise all the equity."},{"speaker":"Warren Dresner","startTime":1131.101,"endTime":1132.781,"body":"We're confident we can"},{"speaker":"Warren Dresner","startTime":1131.101,"endTime":1132.781,"body":"go and get the loan."},{"speaker":"Warren Dresner","startTime":1133.081,"endTime":1136.471,"body":"And that way we can comfortably"},{"speaker":"Warren Dresner","startTime":1133.081,"endTime":1136.471,"body":"close the deal in the timeframe."},{"speaker":"Warren Dresner","startTime":1136.531,"endTime":1141.031,"body":"So I think there've been a couple of"},{"speaker":"Warren Dresner","startTime":1136.531,"endTime":1141.031,"body":"instances where we've closed the deal"},{"speaker":"Warren Dresner","startTime":1141.061,"endTime":1142.861,"body":"well before that 60 day deadline."},{"speaker":"Warren Dresner","startTime":1142.878,"endTime":1144.408,"body":"Close the deal early, which is great."},{"speaker":"Warren Dresner","startTime":1144.828,"endTime":1148.158,"body":"Often we've got extensions in the"},{"speaker":"Warren Dresner","startTime":1144.828,"endTime":1148.158,"body":"contract, so we do have the ability"},{"speaker":"Warren Dresner","startTime":1148.158,"endTime":1151.968,"body":"to extend as a lot of syndicates"},{"speaker":"Warren Dresner","startTime":1148.158,"endTime":1151.968,"body":"do, but our preference is always"},{"speaker":"Warren Dresner","startTime":1152.278,"endTime":1153.408,"body":"let's not use the extension."},{"speaker":"Warren Dresner","startTime":1153.408,"endTime":1154.458,"body":"Let's try and perform."},{"speaker":"Warren Dresner","startTime":1154.848,"endTime":1155.958,"body":"Close the deal smoothly."},{"speaker":"Warren Dresner","startTime":1156.258,"endTime":1158.328,"body":"So that, that's basically how we do it."},{"speaker":"Warren Dresner","startTime":1158.778,"endTime":1162.768,"body":"We try and be as transparent as possible,"},{"speaker":"Warren Dresner","startTime":1158.778,"endTime":1162.768,"body":"share all the details of the deal, get on"},{"speaker":"Warren Dresner","startTime":1162.773,"endTime":1166.938,"body":"a Zoom call and talk through any questions"},{"speaker":"Warren Dresner","startTime":1162.773,"endTime":1166.938,"body":"that people have and then just start"},{"speaker":"Warren Dresner","startTime":1166.938,"endTime":1168.528,"body":"to recruit them into the team that way."},{"speaker":"Average Joe Finances","startTime":1168.828,"endTime":1169.098,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1169.098,"endTime":1170.088,"body":"Yeah that's awesome."},{"speaker":"Average Joe Finances","startTime":1170.138,"endTime":1173.048,"body":"Again that words come up a"},{"speaker":"Average Joe Finances","startTime":1170.138,"endTime":1173.048,"body":"couple times now, transparency"},{"speaker":"Average Joe Finances","startTime":1173.413,"endTime":1174.548,"body":"and, how key that is, right?"},{"speaker":"Average Joe Finances","startTime":1174.848,"endTime":1177.458,"body":"Cause you are not telling people"},{"speaker":"Average Joe Finances","startTime":1174.848,"endTime":1177.458,"body":"what's going on, they're not"},{"speaker":"Average Joe Finances","startTime":1177.458,"endTime":1180.098,"body":"gonna feel comfortable and they're"},{"speaker":"Average Joe Finances","startTime":1177.458,"endTime":1180.098,"body":"not gonna give you their money."},{"speaker":"Average Joe Finances","startTime":1180.398,"endTime":1183.008,"body":"That's good to know that you guys"},{"speaker":"Average Joe Finances","startTime":1180.398,"endTime":1183.008,"body":"are very good stewards of your"},{"speaker":"Average Joe Finances","startTime":1183.013,"endTime":1185.608,"body":"investors money and making sure"},{"speaker":"Average Joe Finances","startTime":1183.013,"endTime":1185.608,"body":"that you're doing it the right way."},{"speaker":"Average Joe Finances","startTime":1185.788,"endTime":1189.208,"body":"And pushing to try to get"},{"speaker":"Average Joe Finances","startTime":1185.788,"endTime":1189.208,"body":"closed by that 60 day mark."},{"speaker":"Average Joe Finances","startTime":1189.208,"endTime":1193.948,"body":"That way, the people that are sending"},{"speaker":"Average Joe Finances","startTime":1189.208,"endTime":1193.948,"body":"in their funds, they'll be able to start"},{"speaker":"Average Joe Finances","startTime":1193.948,"endTime":1197.308,"body":"getting their distribution sooner rather"},{"speaker":"Average Joe Finances","startTime":1193.948,"endTime":1197.308,"body":"than having to wait for these extensions"},{"speaker":"Average Joe Finances","startTime":1197.308,"endTime":1198.924,"body":"to keep happening and things like that."},{"speaker":"Average Joe Finances","startTime":1198.924,"endTime":1200.094,"body":"So that's, good."},{"speaker":"Average Joe Finances","startTime":1200.124,"endTime":1200.904,"body":"That's really awesome."},{"speaker":"Average Joe Finances","startTime":1201.054,"endTime":1203.106,"body":"I guess one of the other things I wanna"},{"speaker":"Average Joe Finances","startTime":1201.054,"endTime":1203.106,"body":"touch on though is like when you're"},{"speaker":"Average Joe Finances","startTime":1203.106,"endTime":1204.696,"body":"piecing that team together, right?"},{"speaker":"Average Joe Finances","startTime":1204.696,"endTime":1207.726,"body":"And you're saying, Hey, you're"},{"speaker":"Average Joe Finances","startTime":1204.696,"endTime":1207.726,"body":"sharing some of the data of hey,"},{"speaker":"Average Joe Finances","startTime":1207.846,"endTime":1210.486,"body":"here's what we're underwriting, this"},{"speaker":"Average Joe Finances","startTime":1207.846,"endTime":1210.486,"body":"is what we're seeing, this is how"},{"speaker":"Average Joe Finances","startTime":1210.486,"endTime":1211.836,"body":"we think this deal's gonna go down."},{"speaker":"Average Joe Finances","startTime":1212.621,"endTime":1213.636,"body":"And you're putting that together."},{"speaker":"Average Joe Finances","startTime":1213.636,"endTime":1216.576,"body":"Now, how are you keeping"},{"speaker":"Average Joe Finances","startTime":1213.636,"endTime":1216.576,"body":"in touch with these folks?"},{"speaker":"Average Joe Finances","startTime":1216.581,"endTime":1220.623,"body":"Do you have a CRM system that you guys"},{"speaker":"Average Joe Finances","startTime":1216.581,"endTime":1220.623,"body":"use to keep track of who does what?"},{"speaker":"Average Joe Finances","startTime":1220.632,"endTime":1224.349,"body":"Or do you have a mailing list that"},{"speaker":"Average Joe Finances","startTime":1220.632,"endTime":1224.349,"body":"you guys mail out and say, Hey, This"},{"speaker":"Average Joe Finances","startTime":1224.354,"endTime":1227.559,"body":"is what we have coming down the pipe"},{"speaker":"Average Joe Finances","startTime":1224.354,"endTime":1227.559,"body":"and wanting to see who's interested"},{"speaker":"Average Joe Finances","startTime":1227.559,"endTime":1229.119,"body":"in joining in on this with us."},{"speaker":"Warren Dresner","startTime":1229.419,"endTime":1234.369,"body":"So we've got a CRM system,"},{"speaker":"Warren Dresner","startTime":1229.419,"endTime":1234.369,"body":"which includes mailing list, and we will"},{"speaker":"Warren Dresner","startTime":1234.369,"endTime":1238.569,"body":"let our investors know, or everyone that's"},{"speaker":"Warren Dresner","startTime":1234.369,"endTime":1238.569,"body":"on the investment list know that a deal is"},{"speaker":"Warren Dresner","startTime":1238.574,"endTime":1240.339,"body":"coming and communicate with them that way."},{"speaker":"Warren Dresner","startTime":1240.969,"endTime":1244.809,"body":"We've also got a portal that we"},{"speaker":"Warren Dresner","startTime":1240.969,"endTime":1244.809,"body":"use Syndication Pro, which we"},{"speaker":"Warren Dresner","startTime":1244.809,"endTime":1246.279,"body":"use to manage the syndication."},{"speaker":"Warren Dresner","startTime":1246.844,"endTime":1249.244,"body":"So all of the information"},{"speaker":"Warren Dresner","startTime":1246.844,"endTime":1249.244,"body":"would be uploaded there."},{"speaker":"Warren Dresner","startTime":1249.304,"endTime":1253.494,"body":"Investors can go into the portal and"},{"speaker":"Warren Dresner","startTime":1249.304,"endTime":1253.494,"body":"read the details of their leisure."},{"speaker":"Warren Dresner","startTime":1254.014,"endTime":1256.744,"body":"They can submit an"},{"speaker":"Warren Dresner","startTime":1254.014,"endTime":1256.744,"body":"investment request there."},{"speaker":"Warren Dresner","startTime":1256.749,"endTime":1259.414,"body":"They can confirm that they're"},{"speaker":"Warren Dresner","startTime":1256.749,"endTime":1259.414,"body":"gonna be part of the deal, complete"},{"speaker":"Warren Dresner","startTime":1259.419,"endTime":1261.244,"body":"all the investment documentation."},{"speaker":"Warren Dresner","startTime":1261.291,"endTime":1265.161,"body":"And then once the deal is live, that"},{"speaker":"Warren Dresner","startTime":1261.291,"endTime":1265.161,"body":"portal remains live and they can"},{"speaker":"Warren Dresner","startTime":1265.161,"endTime":1266.691,"body":"go in there and see the updates."},{"speaker":"Warren Dresner","startTime":1266.691,"endTime":1268.881,"body":"They can see details"},{"speaker":"Warren Dresner","startTime":1266.691,"endTime":1268.881,"body":"of their distributions."},{"speaker":"Warren Dresner","startTime":1269.121,"endTime":1272.031,"body":"So the portal is like a"},{"speaker":"Warren Dresner","startTime":1269.121,"endTime":1272.031,"body":"nice, neat solution to help"},{"speaker":"Warren Dresner","startTime":1272.031,"endTime":1274.111,"body":"manage the life of the deal."},{"speaker":"Average Joe Finances","startTime":1274.411,"endTime":1274.801,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1274.861,"endTime":1275.041,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1275.041,"endTime":1275.671,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":1275.681,"endTime":1278.651,"body":"I'm asking you guys like basic stuff"},{"speaker":"Average Joe Finances","startTime":1275.681,"endTime":1278.651,"body":"for you guys, but this is stuff I wanna"},{"speaker":"Average Joe Finances","startTime":1278.651,"endTime":1281.814,"body":"get out to the audience because I've"},{"speaker":"Average Joe Finances","startTime":1278.651,"endTime":1281.814,"body":"had several multi-family investors on"},{"speaker":"Average Joe Finances","startTime":1281.814,"endTime":1286.044,"body":"this podcast before, and we've never"},{"speaker":"Average Joe Finances","startTime":1281.814,"endTime":1286.044,"body":"gone into detail of how people put"},{"speaker":"Average Joe Finances","startTime":1286.044,"endTime":1287.544,"body":"teams together and things like that."},{"speaker":"Average Joe Finances","startTime":1287.544,"endTime":1291.024,"body":"We've just talked about how they"},{"speaker":"Average Joe Finances","startTime":1287.544,"endTime":1291.024,"body":"have all these awesome deals and,"},{"speaker":"Average Joe Finances","startTime":1291.024,"endTime":1291.894,"body":"how they're doing 'em, right?"},{"speaker":"Average Joe Finances","startTime":1291.914,"endTime":1294.704,"body":"I think this is super important"},{"speaker":"Average Joe Finances","startTime":1291.914,"endTime":1294.704,"body":"information to get out to the"},{"speaker":"Average Joe Finances","startTime":1294.704,"endTime":1297.344,"body":"listeners right now, especially"},{"speaker":"Average Joe Finances","startTime":1294.704,"endTime":1297.344,"body":"if they're considering going"},{"speaker":"Average Joe Finances","startTime":1297.344,"endTime":1298.634,"body":"into multifamily investing."},{"speaker":"Average Joe Finances","startTime":1298.658,"endTime":1301.593,"body":"And these are the kind of qualities"},{"speaker":"Average Joe Finances","startTime":1298.658,"endTime":1301.593,"body":"you wanna see if you're gonna be a"},{"speaker":"Average Joe Finances","startTime":1301.593,"endTime":1304.173,"body":"limited partner, these are the kind"},{"speaker":"Average Joe Finances","startTime":1301.593,"endTime":1304.173,"body":"of qualities you wanna see in the"},{"speaker":"Average Joe Finances","startTime":1304.173,"endTime":1305.643,"body":"general partners that you're gonna use."},{"speaker":"Average Joe Finances","startTime":1305.883,"endTime":1308.473,"body":"So exactly what Warren and Ryan are doing."},{"speaker":"Average Joe Finances","startTime":1308.683,"endTime":1309.943,"body":"So that's that's awesome stuff."},{"speaker":"Average Joe Finances","startTime":1309.943,"endTime":1311.743,"body":"I just wanna make sure I'm getting"},{"speaker":"Average Joe Finances","startTime":1309.943,"endTime":1311.743,"body":"that out there for you guys."},{"speaker":"Average Joe Finances","startTime":1312.043,"endTime":1313.063,"body":"I appreciate that."},{"speaker":"Warren Dresner","startTime":1313.313,"endTime":1317.303,"body":"It's valuable because"},{"speaker":"Warren Dresner","startTime":1313.313,"endTime":1317.303,"body":"I've invested in syndications as well"},{"speaker":"Warren Dresner","startTime":1317.303,"endTime":1322.793,"body":"as a limited partner, and the biggest"},{"speaker":"Warren Dresner","startTime":1317.303,"endTime":1322.793,"body":"frustration for me is when communication's"},{"speaker":"Warren Dresner","startTime":1322.793,"endTime":1326.423,"body":"poor or ad hoc or unorganized."},{"speaker":"Warren Dresner","startTime":1326.723,"endTime":1330.083,"body":"So I think it's really, I know from"},{"speaker":"Warren Dresner","startTime":1326.723,"endTime":1330.083,"body":"experience, having been through some of"},{"speaker":"Warren Dresner","startTime":1330.083,"endTime":1334.583,"body":"these investments, I really value having"},{"speaker":"Warren Dresner","startTime":1330.083,"endTime":1334.583,"body":"good communication and having an operator"},{"speaker":"Warren Dresner","startTime":1334.913,"endTime":1339.353,"body":"who is organized and professional and"},{"speaker":"Warren Dresner","startTime":1334.913,"endTime":1339.353,"body":"has the systems in place to make sure"},{"speaker":"Warren Dresner","startTime":1339.353,"endTime":1342.053,"body":"that the communication's gonna stay"},{"speaker":"Warren Dresner","startTime":1339.353,"endTime":1342.053,"body":"that way through the life of the deal."},{"speaker":"Average Joe Finances","startTime":1342.538,"endTime":1342.808,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1343.228,"endTime":1346.228,"body":"And, these are the qualities I look"},{"speaker":"Average Joe Finances","startTime":1343.228,"endTime":1346.228,"body":"for when I invest with the team too."},{"speaker":"Average Joe Finances","startTime":1346.233,"endTime":1348.118,"body":"So I invest with a couple"},{"speaker":"Average Joe Finances","startTime":1346.233,"endTime":1348.118,"body":"different teams right now."},{"speaker":"Average Joe Finances","startTime":1348.718,"endTime":1349.918,"body":"They're all fantastic."},{"speaker":"Average Joe Finances","startTime":1349.918,"endTime":1353.578,"body":"I get my sometimes monthly updates"},{"speaker":"Average Joe Finances","startTime":1349.918,"endTime":1353.578,"body":"from some of them quarterly"},{"speaker":"Average Joe Finances","startTime":1353.578,"endTime":1354.628,"body":"updates from the other ones."},{"speaker":"Average Joe Finances","startTime":1354.641,"endTime":1357.966,"body":"And it's just great because"},{"speaker":"Average Joe Finances","startTime":1354.641,"endTime":1357.966,"body":"they definitely keep me"},{"speaker":"Average Joe Finances","startTime":1357.966,"endTime":1359.106,"body":"updated on what's going on."},{"speaker":"Average Joe Finances","startTime":1359.106,"endTime":1361.746,"body":"Every little thing, especially if"},{"speaker":"Average Joe Finances","startTime":1359.106,"endTime":1361.746,"body":"they're setbacks or anything like that."},{"speaker":"Average Joe Finances","startTime":1362.136,"endTime":1366.156,"body":"I actually respect that more than trying"},{"speaker":"Average Joe Finances","startTime":1362.136,"endTime":1366.156,"body":"to be like, Oh yeah, everything's great."},{"speaker":"Average Joe Finances","startTime":1366.156,"endTime":1366.846,"body":"Everything's fine."},{"speaker":"Average Joe Finances","startTime":1367.326,"endTime":1370.206,"body":"When we had the whole lumber shortage"},{"speaker":"Average Joe Finances","startTime":1367.326,"endTime":1370.206,"body":"one of the, one of the investments"},{"speaker":"Average Joe Finances","startTime":1370.206,"endTime":1371.946,"body":"I was in, they had an issue, right?"},{"speaker":"Average Joe Finances","startTime":1371.946,"endTime":1374.516,"body":"We had to delay something"},{"speaker":"Average Joe Finances","startTime":1371.946,"endTime":1374.516,"body":"about nine months."},{"speaker":"Average Joe Finances","startTime":1374.519,"endTime":1377.463,"body":"So that's huge that you're putting"},{"speaker":"Average Joe Finances","startTime":1374.519,"endTime":1377.463,"body":"that out to your investors and they"},{"speaker":"Average Joe Finances","startTime":1377.463,"endTime":1381.273,"body":"understand what's going on so they"},{"speaker":"Average Joe Finances","startTime":1377.463,"endTime":1381.273,"body":"can have reasonable expectations"},{"speaker":"Average Joe Finances","startTime":1381.483,"endTime":1383.313,"body":"of what to expect from you all."},{"speaker":"Average Joe Finances","startTime":1383.313,"endTime":1385.683,"body":"And it's not just be like,"},{"speaker":"Average Joe Finances","startTime":1383.313,"endTime":1385.683,"body":"Oh, okay, I gave my money now,"},{"speaker":"Average Joe Finances","startTime":1385.683,"endTime":1386.973,"body":"gimme my distributions right?"},{"speaker":"Average Joe Finances","startTime":1387.223,"endTime":1388.396,"body":"There's more to it than that."},{"speaker":"Average Joe Finances","startTime":1388.876,"endTime":1391.546,"body":"You, need to know what's going"},{"speaker":"Average Joe Finances","startTime":1388.876,"endTime":1391.546,"body":"on with the asset itself."},{"speaker":"Average Joe Finances","startTime":1391.546,"endTime":1392.626,"body":"So that's, huge."},{"speaker":"Average Joe Finances","startTime":1392.826,"endTime":1395.701,"body":"When other things happen, like cost"},{"speaker":"Average Joe Finances","startTime":1392.826,"endTime":1395.701,"body":"X studies and everything like that."},{"speaker":"Average Joe Finances","startTime":1395.851,"endTime":1396.451,"body":"That's huge."},{"speaker":"Average Joe Finances","startTime":1396.451,"endTime":1397.231,"body":"Like you need to know that."},{"speaker":"Average Joe Finances","startTime":1397.231,"endTime":1398.851,"body":"You need to know what kind of"},{"speaker":"Average Joe Finances","startTime":1397.231,"endTime":1398.851,"body":"loss you're gonna be able to"},{"speaker":"Average Joe Finances","startTime":1398.851,"endTime":1400.661,"body":"claim that year on your K1."},{"speaker":"Ryan Webster","startTime":1400.831,"endTime":1401.461,"body":"Yeah, absolutely."},{"speaker":"Ryan Webster","startTime":1401.475,"endTime":1406.558,"body":"That's very big and it's a business and we"},{"speaker":"Ryan Webster","startTime":1401.475,"endTime":1406.558,"body":"put together a proforma and we go through"},{"speaker":"Ryan Webster","startTime":1406.558,"endTime":1410.817,"body":"underwriting and we do our best to project"},{"speaker":"Ryan Webster","startTime":1406.558,"endTime":1410.817,"body":"the future as accurately as we can."},{"speaker":"Ryan Webster","startTime":1410.817,"endTime":1412.165,"body":"We don't have a crystal ball."},{"speaker":"Ryan Webster","startTime":1412.17,"endTime":1416.975,"body":"There's always gonna be unforeseen"},{"speaker":"Ryan Webster","startTime":1412.17,"endTime":1416.975,"body":"circumstances, but you know what you wanna"},{"speaker":"Ryan Webster","startTime":1416.975,"endTime":1421.405,"body":"know is, One, that these circumstances"},{"speaker":"Ryan Webster","startTime":1416.975,"endTime":1421.405,"body":"are being communicated to you as an"},{"speaker":"Ryan Webster","startTime":1421.405,"endTime":1424.585,"body":"investor and a limited partner, and"},{"speaker":"Ryan Webster","startTime":1421.405,"endTime":1424.585,"body":"two, that you know, the sponsorship"},{"speaker":"Ryan Webster","startTime":1424.585,"endTime":1429.324,"body":"team and the management team is seeing"},{"speaker":"Ryan Webster","startTime":1424.585,"endTime":1429.324,"body":"these coming and, has a plan to address"},{"speaker":"Ryan Webster","startTime":1429.324,"endTime":1432.235,"body":"them and keep the asset on performance."},{"speaker":"Average Joe Finances","startTime":1432.236,"endTime":1432.559,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1432.669,"endTime":1433.353,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":1433.36,"endTime":1435.399,"body":"So speaking of performance, right?"},{"speaker":"Average Joe Finances","startTime":1435.399,"endTime":1438.759,"body":"So before you even get to all"},{"speaker":"Average Joe Finances","startTime":1435.399,"endTime":1438.759,"body":"that, and I wanna rewind this"},{"speaker":"Average Joe Finances","startTime":1438.759,"endTime":1440.739,"body":"back even further, right?"},{"speaker":"Average Joe Finances","startTime":1440.739,"endTime":1444.699,"body":"So before you even go and find the"},{"speaker":"Average Joe Finances","startTime":1440.739,"endTime":1444.699,"body":"deal, you have to figure out where"},{"speaker":"Average Joe Finances","startTime":1444.699,"endTime":1446.11,"body":"your market's gonna be, right?"},{"speaker":"Average Joe Finances","startTime":1446.469,"endTime":1449.86,"body":"So what are some of the things that"},{"speaker":"Average Joe Finances","startTime":1446.469,"endTime":1449.86,"body":"you guys are looking for when you're"},{"speaker":"Average Joe Finances","startTime":1449.86,"endTime":1452.559,"body":"selecting and qualifying target markets?"},{"speaker":"Ryan Webster","startTime":1452.859,"endTime":1455.889,"body":"First and foremost"},{"speaker":"Ryan Webster","startTime":1452.859,"endTime":1455.889,"body":"is, kind of population growth."},{"speaker":"Ryan Webster","startTime":1456.519,"endTime":1461.139,"body":"You want to have some, demand"},{"speaker":"Ryan Webster","startTime":1456.519,"endTime":1461.139,"body":"pressure pushing on the housing"},{"speaker":"Ryan Webster","startTime":1461.139,"endTime":1462.879,"body":"market in an area that you're looking."},{"speaker":"Ryan Webster","startTime":1463.269,"endTime":1467.919,"body":"And we saw a huge migration trend"},{"speaker":"Ryan Webster","startTime":1463.269,"endTime":1467.919,"body":"at the onset of Covid where people"},{"speaker":"Ryan Webster","startTime":1468.164,"endTime":1469.269,"body":"got on shackled from the desk."},{"speaker":"Ryan Webster","startTime":1469.569,"endTime":1473.229,"body":"And we're forced to think about,"},{"speaker":"Ryan Webster","startTime":1469.569,"endTime":1473.229,"body":"Hey, you know what's my best life?"},{"speaker":"Ryan Webster","startTime":1473.229,"endTime":1475.299,"body":"And it's now the opportunity"},{"speaker":"Ryan Webster","startTime":1473.229,"endTime":1475.299,"body":"to go live that best life."},{"speaker":"Ryan Webster","startTime":1475.299,"endTime":1479.529,"body":"And we saw a lot of people migrating"},{"speaker":"Ryan Webster","startTime":1475.299,"endTime":1479.529,"body":"to the southeast and, to the south."},{"speaker":"Ryan Webster","startTime":1480.459,"endTime":1484.084,"body":"So we look for areas with"},{"speaker":"Ryan Webster","startTime":1480.459,"endTime":1484.084,"body":"Solid population growth."},{"speaker":"Ryan Webster","startTime":1484.624,"endTime":1488.194,"body":"And then we look fors with"},{"speaker":"Ryan Webster","startTime":1484.624,"endTime":1488.194,"body":"barriers to entry for new supply."},{"speaker":"Ryan Webster","startTime":1489.034,"endTime":1493.114,"body":"We don't want a lot of new apartments"},{"speaker":"Ryan Webster","startTime":1489.034,"endTime":1493.114,"body":"being built, flooding the market, which"},{"speaker":"Ryan Webster","startTime":1493.114,"endTime":1496.084,"body":"is gonna impact occupancy and rents."},{"speaker":"Ryan Webster","startTime":1496.444,"endTime":1499.714,"body":"And then especially right now in this"},{"speaker":"Ryan Webster","startTime":1496.444,"endTime":1499.714,"body":"inflationary environment, looking"},{"speaker":"Ryan Webster","startTime":1500.254,"endTime":1505.464,"body":"very closely at income growth and the"},{"speaker":"Ryan Webster","startTime":1500.254,"endTime":1505.464,"body":"diversity of the job market in the area."},{"speaker":"Ryan Webster","startTime":1505.764,"endTime":1510.114,"body":"And then taking that income as a"},{"speaker":"Ryan Webster","startTime":1505.764,"endTime":1510.114,"body":"ratio of rents and making sure that"},{"speaker":"Ryan Webster","startTime":1510.294,"endTime":1514.194,"body":"if we're renovating a property and"},{"speaker":"Ryan Webster","startTime":1510.294,"endTime":1514.194,"body":"pushing rents are, we pushing rents"},{"speaker":"Ryan Webster","startTime":1514.194,"endTime":1516.234,"body":"beyond that affordability threshold."},{"speaker":"Average Joe Finances","startTime":1516.534,"endTime":1517.404,"body":"No, that's a great point."},{"speaker":"Average Joe Finances","startTime":1517.409,"endTime":1520.824,"body":"And that's, definitely something that"},{"speaker":"Average Joe Finances","startTime":1517.409,"endTime":1520.824,"body":"everybody should be mindful of, right?"},{"speaker":"Average Joe Finances","startTime":1520.824,"endTime":1524.304,"body":"Just because you're gonna take down"},{"speaker":"Average Joe Finances","startTime":1520.824,"endTime":1524.304,"body":"an asset and be like, Oh yeah, I could"},{"speaker":"Average Joe Finances","startTime":1524.304,"endTime":1528.414,"body":"raise the rent and, this is what it's"},{"speaker":"Average Joe Finances","startTime":1524.304,"endTime":1528.414,"body":"gonna look like five years from now."},{"speaker":"Average Joe Finances","startTime":1528.714,"endTime":1532.004,"body":"Is it realistic to what the"},{"speaker":"Average Joe Finances","startTime":1528.714,"endTime":1532.004,"body":"people there can afford?"},{"speaker":"Average Joe Finances","startTime":1532.724,"endTime":1533.769,"body":"So that's huge."},{"speaker":"Average Joe Finances","startTime":1533.949,"endTime":1536.529,"body":"And that's definitely something"},{"speaker":"Average Joe Finances","startTime":1533.949,"endTime":1536.529,"body":"that's great for you guys to take into"},{"speaker":"Average Joe Finances","startTime":1536.529,"endTime":1540.069,"body":"consideration because not only are you"},{"speaker":"Average Joe Finances","startTime":1536.529,"endTime":1540.069,"body":"doing a good service to your investors,"},{"speaker":"Average Joe Finances","startTime":1540.069,"endTime":1543.729,"body":"but you're also taking care of your"},{"speaker":"Average Joe Finances","startTime":1540.069,"endTime":1543.729,"body":"tenants and residents as well, right?"},{"speaker":"Average Joe Finances","startTime":1543.729,"endTime":1545.919,"body":"You're making sure that you're"},{"speaker":"Average Joe Finances","startTime":1543.729,"endTime":1545.919,"body":"keeping it affordable for them"},{"speaker":"Average Joe Finances","startTime":1546.129,"endTime":1547.569,"body":"and you're providing a service."},{"speaker":"Average Joe Finances","startTime":1547.569,"endTime":1550.569,"body":"You're providing affordable"},{"speaker":"Average Joe Finances","startTime":1547.569,"endTime":1550.569,"body":"housing for people to live in, so"},{"speaker":"Average Joe Finances","startTime":1550.569,"endTime":1552.189,"body":"it's two birds, one stone, right?"},{"speaker":"Average Joe Finances","startTime":1552.189,"endTime":1556.409,"body":"You're helping people invest their money"},{"speaker":"Average Joe Finances","startTime":1552.189,"endTime":1556.409,"body":"and get themselves to a better point"},{"speaker":"Average Joe Finances","startTime":1556.409,"endTime":1559.889,"body":"where they can maybe retire early or"},{"speaker":"Average Joe Finances","startTime":1556.409,"endTime":1559.889,"body":"do whatever they want with that money."},{"speaker":"Average Joe Finances","startTime":1559.889,"endTime":1564.119,"body":"But you're also giving a better quality"},{"speaker":"Average Joe Finances","startTime":1559.889,"endTime":1564.119,"body":"of life to some, people that are moving"},{"speaker":"Average Joe Finances","startTime":1564.119,"endTime":1570.159,"body":"into your apartment buildings and being"},{"speaker":"Average Joe Finances","startTime":1564.119,"endTime":1570.159,"body":"able to live in a good, safe environment"},{"speaker":"Average Joe Finances","startTime":1570.399,"endTime":1573.039,"body":"while not having to worry about whether"},{"speaker":"Average Joe Finances","startTime":1570.399,"endTime":1573.039,"body":"or not they can afford it or not."},{"speaker":"Average Joe Finances","startTime":1573.039,"endTime":1574.569,"body":"So that's, definitely huge."},{"speaker":"Average Joe Finances","startTime":1575.134,"endTime":1578.734,"body":"Now what are some of those markets"},{"speaker":"Average Joe Finances","startTime":1575.134,"endTime":1578.734,"body":"that you guys are looking at?"},{"speaker":"Average Joe Finances","startTime":1578.734,"endTime":1581.644,"body":"So now I know you said people are"},{"speaker":"Average Joe Finances","startTime":1578.734,"endTime":1581.644,"body":"moving to the southeast and the South."},{"speaker":"Average Joe Finances","startTime":1581.914,"endTime":1585.994,"body":"So what kind of areas are you guys looking"},{"speaker":"Average Joe Finances","startTime":1581.914,"endTime":1585.994,"body":"at for yourselves, personally right"},{"speaker":"Average Joe Finances","startTime":1585.999,"endTime":1587.764,"body":"now for assets that you're taking down?"},{"speaker":"Ryan Webster","startTime":1588.544,"endTime":1593.164,"body":"Yeah, so we like to stick"},{"speaker":"Ryan Webster","startTime":1588.544,"endTime":1593.164,"body":"to the, periphery of the major markets"},{"speaker":"Ryan Webster","startTime":1593.164,"endTime":1598.144,"body":"across the, southeast and not really"},{"speaker":"Ryan Webster","startTime":1593.164,"endTime":1598.144,"body":"the, core of these major markets,"},{"speaker":"Ryan Webster","startTime":1598.144,"endTime":1602.044,"body":"but just on the outside because that"},{"speaker":"Ryan Webster","startTime":1598.144,"endTime":1602.044,"body":"represents a little more affordability."},{"speaker":"Ryan Webster","startTime":1602.794,"endTime":1608.334,"body":"But yeah, across Florida looking at"},{"speaker":"Ryan Webster","startTime":1602.794,"endTime":1608.334,"body":"Tampa, Orlando, Jacksonville and some"},{"speaker":"Ryan Webster","startTime":1608.334,"endTime":1610.854,"body":"other minor markets down the, Gulf Coast."},{"speaker":"Average Joe Finances","startTime":1611.154,"endTime":1611.934,"body":"Okay, Awesome."},{"speaker":"Average Joe Finances","startTime":1611.934,"endTime":1612.384,"body":"Right on."},{"speaker":"Average Joe Finances","startTime":1612.684,"endTime":1613.014,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1613.044,"endTime":1614.994,"body":"There seems to be a huge"},{"speaker":"Average Joe Finances","startTime":1613.044,"endTime":1614.994,"body":"migration down that way."},{"speaker":"Average Joe Finances","startTime":1614.994,"endTime":1618.828,"body":"As a matter of fact, my in-laws moved from"},{"speaker":"Average Joe Finances","startTime":1614.994,"endTime":1618.828,"body":"New York down to Tampa not too long ago."},{"speaker":"Average Joe Finances","startTime":1619.548,"endTime":1621.198,"body":"So definitely see that happening."},{"speaker":"Average Joe Finances","startTime":1621.498,"endTime":1624.083,"body":"And there was something else that you"},{"speaker":"Average Joe Finances","startTime":1621.498,"endTime":1624.083,"body":"mentioned that I thought that was pretty"},{"speaker":"Average Joe Finances","startTime":1624.088,"endTime":1628.373,"body":"key as well is you said during this whole"},{"speaker":"Average Joe Finances","startTime":1624.088,"endTime":1628.373,"body":"pandemic that people are realizing that"},{"speaker":"Average Joe Finances","startTime":1628.373,"endTime":1631.789,"body":"they could unchain themselves from them,"},{"speaker":"Average Joe Finances","startTime":1628.373,"endTime":1631.789,"body":"from their desks and do other things."},{"speaker":"Average Joe Finances","startTime":1631.793,"endTime":1635.519,"body":"So you've seen like this huge"},{"speaker":"Average Joe Finances","startTime":1631.793,"endTime":1635.519,"body":"migration out of bigger cities and"},{"speaker":"Average Joe Finances","startTime":1635.569,"endTime":1638.209,"body":"people moving more into the suburb"},{"speaker":"Average Joe Finances","startTime":1635.569,"endTime":1638.209,"body":"and stuff cuz now a lot of people"},{"speaker":"Average Joe Finances","startTime":1638.209,"endTime":1639.889,"body":"are able to telework for their job."},{"speaker":"Average Joe Finances","startTime":1639.903,"endTime":1643.023,"body":"I've even seen people that like"},{"speaker":"Average Joe Finances","startTime":1639.903,"endTime":1643.023,"body":"have jobs in New York City, but they"},{"speaker":"Average Joe Finances","startTime":1643.023,"endTime":1646.673,"body":"move to another state because they"},{"speaker":"Average Joe Finances","startTime":1643.023,"endTime":1646.673,"body":"can telework and I can telework so"},{"speaker":"Average Joe Finances","startTime":1646.676,"endTime":1650.153,"body":"I can live in Illinois if I want to"},{"speaker":"Average Joe Finances","startTime":1646.676,"endTime":1650.153,"body":"or I can live in Texas if I want to."},{"speaker":"Average Joe Finances","startTime":1650.166,"endTime":1652.486,"body":"So things like that have been pretty huge."},{"speaker":"Ryan Webster","startTime":1652.659,"endTime":1653.439,"body":"Yeah, absolutely."},{"speaker":"Ryan Webster","startTime":1653.439,"endTime":1656.536,"body":"And the interesting thing we see with"},{"speaker":"Ryan Webster","startTime":1653.439,"endTime":1656.536,"body":"that is we do have some, residents"},{"speaker":"Ryan Webster","startTime":1656.536,"endTime":1658.092,"body":"that have moved down from New York."},{"speaker":"Ryan Webster","startTime":1658.098,"endTime":1662.359,"body":"And although rents are growing a lot"},{"speaker":"Ryan Webster","startTime":1658.098,"endTime":1662.359,"body":"across major markets in Florida we"},{"speaker":"Ryan Webster","startTime":1662.359,"endTime":1666.289,"body":"have people coming from these even"},{"speaker":"Ryan Webster","startTime":1662.359,"endTime":1666.289,"body":"more expensive markets that still"},{"speaker":"Ryan Webster","startTime":1666.289,"endTime":1669.529,"body":"are earning incomes from New York"},{"speaker":"Ryan Webster","startTime":1666.289,"endTime":1669.529,"body":"and they're like, Wow these, rents"},{"speaker":"Ryan Webster","startTime":1669.529,"endTime":1672.289,"body":"were really affordable compared to"},{"speaker":"Ryan Webster","startTime":1669.529,"endTime":1672.289,"body":"what I'm used to where I come from."},{"speaker":"Average Joe Finances","startTime":1672.589,"endTime":1674.539,"body":"And at the"},{"speaker":"Average Joe Finances","startTime":1672.589,"endTime":1674.539,"body":"same time too, you guys also said"},{"speaker":"Average Joe Finances","startTime":1674.539,"endTime":1676.599,"body":"that your focus is on A- properties."},{"speaker":"Average Joe Finances","startTime":1676.809,"endTime":1677.109,"body":"So you."},{"speaker":"Average Joe Finances","startTime":1677.599,"endTime":1680.873,"body":"You're looking at higher rent in"},{"speaker":"Average Joe Finances","startTime":1677.599,"endTime":1680.873,"body":"general anyway, versus some of the"},{"speaker":"Average Joe Finances","startTime":1680.873,"endTime":1683.303,"body":"C+ plus and B class properties."},{"speaker":"Average Joe Finances","startTime":1683.603,"endTime":1688.523,"body":"You're gonna have tenants that are ready"},{"speaker":"Average Joe Finances","startTime":1683.603,"endTime":1688.523,"body":"and willing to pay that higher for the"},{"speaker":"Average Joe Finances","startTime":1688.523,"endTime":1692.153,"body":"premium because you're gonna have the"},{"speaker":"Average Joe Finances","startTime":1688.523,"endTime":1692.153,"body":"better amenities and things like that"},{"speaker":"Average Joe Finances","startTime":1692.153,"endTime":1693.863,"body":"with the assets that you're purchasing."},{"speaker":"Average Joe Finances","startTime":1694.163,"endTime":1696.563,"body":"You said your first"},{"speaker":"Average Joe Finances","startTime":1694.163,"endTime":1696.563,"body":"acquisition was $26 million."},{"speaker":"Average Joe Finances","startTime":1697.193,"endTime":1700.323,"body":"So I know a lot of syndicators that"},{"speaker":"Average Joe Finances","startTime":1697.193,"endTime":1700.323,"body":"their first ones like 4 million."},{"speaker":"Average Joe Finances","startTime":1700.323,"endTime":1703.543,"body":"So you guys went pretty hard"},{"speaker":"Average Joe Finances","startTime":1700.323,"endTime":1703.543,"body":"on that first one right away."},{"speaker":"Average Joe Finances","startTime":1703.543,"endTime":1704.523,"body":"So that's, pretty awesome."},{"speaker":"Average Joe Finances","startTime":1704.523,"endTime":1709.006,"body":"And, actually, so speaking of that as"},{"speaker":"Average Joe Finances","startTime":1704.523,"endTime":1709.006,"body":"you're building up I know you closed"},{"speaker":"Average Joe Finances","startTime":1709.006,"endTime":1712.483,"body":"out 2021 what was the number that you"},{"speaker":"Average Joe Finances","startTime":1709.006,"endTime":1712.483,"body":"guys were at for the end of the year?"},{"speaker":"Ryan Webster","startTime":1712.633,"endTime":1715.223,"body":"665 units warren?"},{"speaker":"Ryan Webster","startTime":1715.493,"endTime":1716.393,"body":"End of 2021?"},{"speaker":"Warren Dresner","startTime":1716.783,"endTime":1717.113,"body":"Yeah."},{"speaker":"Warren Dresner","startTime":1717.113,"endTime":1721.258,"body":"And the portfolio is now"},{"speaker":"Warren Dresner","startTime":1717.113,"endTime":1721.258,"body":"probably $200 million of assets."},{"speaker":"Average Joe Finances","startTime":1721.588,"endTime":1722.068,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1722.518,"endTime":1722.728,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1722.908,"endTime":1725.803,"body":"And, when did you guys come together"},{"speaker":"Average Joe Finances","startTime":1722.908,"endTime":1725.803,"body":"and actually start when you close or"},{"speaker":"Average Joe Finances","startTime":1725.833,"endTime":1727.183,"body":"when did you close on that first deal?"},{"speaker":"Average Joe Finances","startTime":1727.303,"endTime":1728.803,"body":"Cause that'll make it easier to."},{"speaker":"Ryan Webster","startTime":1729.103,"endTime":1729.313,"body":"Yeah."},{"speaker":"Ryan Webster","startTime":1729.318,"endTime":1732.586,"body":"The first deal was closed March of 2021."},{"speaker":"Average Joe Finances","startTime":1732.886,"endTime":1733.336,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":1733.666,"endTime":1733.936,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1733.936,"endTime":1738.076,"body":"So from March of 2021 to now,"},{"speaker":"Average Joe Finances","startTime":1733.936,"endTime":1738.076,"body":"you're sitting at about 180"},{"speaker":"Average Joe Finances","startTime":1738.076,"endTime":1740.116,"body":"million of assets under management."},{"speaker":"Ryan Webster","startTime":1740.956,"endTime":1741.136,"body":"Yep."},{"speaker":"Average Joe Finances","startTime":1741.466,"endTime":1742.126,"body":"That's awesome."},{"speaker":"Average Joe Finances","startTime":1742.486,"endTime":1743.386,"body":"Well, done guys."},{"speaker":"Average Joe Finances","startTime":1743.386,"endTime":1743.896,"body":"Good job."},{"speaker":"Average Joe Finances","startTime":1743.896,"endTime":1744.406,"body":"Good job."},{"speaker":"Average Joe Finances","startTime":1744.706,"endTime":1747.131,"body":"And that goes to show"},{"speaker":"Average Joe Finances","startTime":1744.706,"endTime":1747.131,"body":"that You hustled, right?"},{"speaker":"Average Joe Finances","startTime":1747.131,"endTime":1749.561,"body":"You didn't just sit around and"},{"speaker":"Average Joe Finances","startTime":1747.131,"endTime":1749.561,"body":"say, Okay, we closed the deal."},{"speaker":"Average Joe Finances","startTime":1749.561,"endTime":1751.271,"body":"We'll just relax a little bit."},{"speaker":"Average Joe Finances","startTime":1751.271,"endTime":1754.181,"body":"No, you moved right on and just"},{"speaker":"Average Joe Finances","startTime":1751.271,"endTime":1754.181,"body":"kept going to find the next deal."},{"speaker":"Average Joe Finances","startTime":1754.181,"endTime":1756.191,"body":"And you kept hunting"},{"speaker":"Average Joe Finances","startTime":1754.181,"endTime":1756.191,"body":"and you kept that going."},{"speaker":"Average Joe Finances","startTime":1756.196,"endTime":1757.211,"body":"That's really awesome guys."},{"speaker":"Average Joe Finances","startTime":1757.216,"endTime":1759.821,"body":"You just gotta keep moving"},{"speaker":"Average Joe Finances","startTime":1757.216,"endTime":1759.821,"body":"and keep that motivation up."},{"speaker":"Warren Dresner","startTime":1759.98,"endTime":1762.98,"body":"It sounds this is"},{"speaker":"Warren Dresner","startTime":1759.98,"endTime":1762.98,"body":"the whole overnight success thing."},{"speaker":"Warren Dresner","startTime":1763.4,"endTime":1767.69,"body":"We actually started working on this"},{"speaker":"Warren Dresner","startTime":1763.4,"endTime":1767.69,"body":"at least 12 months before March 2021."},{"speaker":"Warren Dresner","startTime":1768.08,"endTime":1772.85,"body":"So there was a lot of work and leading up"},{"speaker":"Warren Dresner","startTime":1768.08,"endTime":1772.85,"body":"to it probably from late 2019, I'd say."},{"speaker":"Warren Dresner","startTime":1773.15,"endTime":1775.52,"body":"But yeah, the first deal"},{"speaker":"Warren Dresner","startTime":1773.15,"endTime":1775.52,"body":"closed in early 2021."},{"speaker":"Average Joe Finances","startTime":1775.97,"endTime":1776.42,"body":"I bet."},{"speaker":"Average Joe Finances","startTime":1776.72,"endTime":1778.61,"body":"So I have some partners"},{"speaker":"Average Joe Finances","startTime":1776.72,"endTime":1778.61,"body":"right now too, right?"},{"speaker":"Average Joe Finances","startTime":1778.61,"endTime":1782.78,"body":"We actually get on a Zoom call monthly"},{"speaker":"Average Joe Finances","startTime":1778.61,"endTime":1782.78,"body":"and we practice underwriting deals and"},{"speaker":"Average Joe Finances","startTime":1782.785,"endTime":1784.219,"body":"going over numbers with each other."},{"speaker":"Average Joe Finances","startTime":1784.22,"endTime":1787.34,"body":"Because I'm retiring from the Navy,"},{"speaker":"Average Joe Finances","startTime":1784.22,"endTime":1787.34,"body":"one of the other guys that's on"},{"speaker":"Average Joe Finances","startTime":1787.34,"endTime":1790.85,"body":"the team is retiring from the Navy"},{"speaker":"Average Joe Finances","startTime":1787.34,"endTime":1790.85,"body":"this year as well, and the other"},{"speaker":"Average Joe Finances","startTime":1790.85,"endTime":1792.11,"body":"guy is getting out of the Navy."},{"speaker":"Average Joe Finances","startTime":1792.41,"endTime":1793.01,"body":"Next year."},{"speaker":"Average Joe Finances","startTime":1793.25,"endTime":1796.55,"body":"So we're just going through the motions"},{"speaker":"Average Joe Finances","startTime":1793.25,"endTime":1796.55,"body":"right now and just putting our stuff"},{"speaker":"Average Joe Finances","startTime":1796.55,"endTime":1800.927,"body":"together, putting our processes together"},{"speaker":"Average Joe Finances","startTime":1796.55,"endTime":1800.927,"body":"and just like practicing right now so that"},{"speaker":"Average Joe Finances","startTime":1800.987,"endTime":1804.317,"body":"when we're ready to hit the go button,"},{"speaker":"Average Joe Finances","startTime":1800.987,"endTime":1804.317,"body":"we're gonna go and we're gonna go hard."},{"speaker":"Average Joe Finances","startTime":1804.617,"endTime":1807.267,"body":"And we have some different ideas of how we"},{"speaker":"Average Joe Finances","startTime":1804.617,"endTime":1807.267,"body":"wanna do things a little bit differently."},{"speaker":"Average Joe Finances","startTime":1807.687,"endTime":1810.717,"body":"And the, markets that we wanna"},{"speaker":"Average Joe Finances","startTime":1807.687,"endTime":1810.717,"body":"target just a little bit differently"},{"speaker":"Average Joe Finances","startTime":1810.717,"endTime":1813.267,"body":"than what other people are doing,"},{"speaker":"Average Joe Finances","startTime":1810.717,"endTime":1813.267,"body":"cuz we want to stand out a bit."},{"speaker":"Average Joe Finances","startTime":1813.567,"endTime":1814.377,"body":"I think that's huge."},{"speaker":"Average Joe Finances","startTime":1814.557,"endTime":1816.927,"body":"So I'm glad you pointed that out,"},{"speaker":"Average Joe Finances","startTime":1814.557,"endTime":1816.927,"body":"that you guys started working on"},{"speaker":"Average Joe Finances","startTime":1816.927,"endTime":1820.497,"body":"this stuff about 12 months prior"},{"speaker":"Average Joe Finances","startTime":1816.927,"endTime":1820.497,"body":"to even getting your first deal."},{"speaker":"Average Joe Finances","startTime":1820.497,"endTime":1823.407,"body":"I think that's huge because for the"},{"speaker":"Average Joe Finances","startTime":1820.497,"endTime":1823.407,"body":"people that are out there thinking"},{"speaker":"Average Joe Finances","startTime":1823.407,"endTime":1827.427,"body":"about doing this and you're not sure"},{"speaker":"Average Joe Finances","startTime":1823.407,"endTime":1827.427,"body":"you can certainly start underwriting"},{"speaker":"Average Joe Finances","startTime":1827.427,"endTime":1830.337,"body":"deals now and practicing and,"},{"speaker":"Average Joe Finances","startTime":1827.427,"endTime":1830.337,"body":"getting yourselves to the point."},{"speaker":"Average Joe Finances","startTime":1830.347,"endTime":1833.332,"body":"If you have partners or you"},{"speaker":"Average Joe Finances","startTime":1830.347,"endTime":1833.332,"body":"wanna have partners, Get"},{"speaker":"Average Joe Finances","startTime":1833.332,"endTime":1836.272,"body":"together, start brainstorming,"},{"speaker":"Average Joe Finances","startTime":1833.332,"endTime":1836.272,"body":"start talking about this stuff."},{"speaker":"Average Joe Finances","startTime":1836.572,"endTime":1838.822,"body":"I know Warren, you said you were"},{"speaker":"Average Joe Finances","startTime":1836.572,"endTime":1838.822,"body":"in that mentorship group, right?"},{"speaker":"Average Joe Finances","startTime":1838.822,"endTime":1840.412,"body":"So join a group."},{"speaker":"Average Joe Finances","startTime":1840.472,"endTime":1841.762,"body":"Go to local meetups."},{"speaker":"Average Joe Finances","startTime":1841.792,"endTime":1843.142,"body":"Join a mastermind, right?"},{"speaker":"Average Joe Finances","startTime":1843.412,"endTime":1844.582,"body":"Start learning this stuff."},{"speaker":"Average Joe Finances","startTime":1844.582,"endTime":1845.872,"body":"Start learning the processes."},{"speaker":"Average Joe Finances","startTime":1846.052,"endTime":1849.952,"body":"And, so when you go to actually put"},{"speaker":"Average Joe Finances","startTime":1846.052,"endTime":1849.952,"body":"it in place yourself, you're gonna be"},{"speaker":"Average Joe Finances","startTime":1849.982,"endTime":1852.302,"body":"a hundred percent committed because"},{"speaker":"Average Joe Finances","startTime":1849.982,"endTime":1852.302,"body":"you know exactly what you're doing"},{"speaker":"Warren Dresner","startTime":1852.619,"endTime":1853.219,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":1853.729,"endTime":1854.029,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1854.029,"endTime":1854.419,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1854.779,"endTime":1856.882,"body":"Hey guys, this has been"},{"speaker":"Average Joe Finances","startTime":1854.779,"endTime":1856.882,"body":"absolutely fantastic."},{"speaker":"Average Joe Finances","startTime":1856.882,"endTime":1859.522,"body":"I want to go ahead and"},{"speaker":"Average Joe Finances","startTime":1856.882,"endTime":1859.522,"body":"transition this into something"},{"speaker":"Average Joe Finances","startTime":1859.522,"endTime":1860.842,"body":"that we call the final round."},{"speaker":"Average Joe Finances","startTime":1861.182,"endTime":1865.002,"body":"I'm gonna ask you guys four questions"},{"speaker":"Average Joe Finances","startTime":1861.182,"endTime":1865.002,"body":"that will really get you thinking"},{"speaker":"Average Joe Finances","startTime":1865.002,"endTime":1868.799,"body":"a little bit and give the audience"},{"speaker":"Average Joe Finances","startTime":1865.002,"endTime":1868.799,"body":"a better understanding of the two"},{"speaker":"Average Joe Finances","startTime":1868.799,"endTime":1871.839,"body":"of you, your mentality and how"},{"speaker":"Average Joe Finances","startTime":1868.799,"endTime":1871.839,"body":"you got to where you are today."},{"speaker":"Average Joe Finances","startTime":1871.839,"endTime":1873.599,"body":"So if you guys are ready,"},{"speaker":"Average Joe Finances","startTime":1871.839,"endTime":1873.599,"body":"we'll get this party."},{"speaker":"Warren Dresner","startTime":1874.504,"endTime":1875.064,"body":"Let's go."},{"speaker":"Average Joe Finances","startTime":1875.624,"endTime":1876.134,"body":"All right, cool."},{"speaker":"Average Joe Finances","startTime":1876.194,"endTime":1878.444,"body":"Now I, would like for both of you"},{"speaker":"Average Joe Finances","startTime":1876.194,"endTime":1878.444,"body":"to answer these questions as well,"},{"speaker":"Average Joe Finances","startTime":1878.444,"endTime":1880.904,"body":"cause I, I know each one of you"},{"speaker":"Average Joe Finances","startTime":1878.444,"endTime":1880.904,"body":"will probably have a unique answer."},{"speaker":"Average Joe Finances","startTime":1881.804,"endTime":1885.284,"body":"The first question is, what's the"},{"speaker":"Average Joe Finances","startTime":1881.804,"endTime":1885.284,"body":"biggest mistake you've ever made?"},{"speaker":"Ryan Webster","startTime":1885.584,"endTime":1885.944,"body":"Yeah."},{"speaker":"Ryan Webster","startTime":1886.244,"endTime":1890.767,"body":"Back into team building when I  built my"},{"speaker":"Ryan Webster","startTime":1886.244,"endTime":1890.767,"body":"first business I was much, much, younger"},{"speaker":"Ryan Webster","startTime":1890.77,"endTime":1894.367,"body":"had a lot more energy and I just I ran"},{"speaker":"Ryan Webster","startTime":1890.77,"endTime":1894.367,"body":"at it, said I'm gonna build a business"},{"speaker":"Ryan Webster","startTime":1894.847,"endTime":1899.283,"body":"without a lot of prior thought into If"},{"speaker":"Ryan Webster","startTime":1894.847,"endTime":1899.283,"body":"I need to build this business to where"},{"speaker":"Ryan Webster","startTime":1899.283,"endTime":1901.083,"body":"I want it to go, what's it gonna take?"},{"speaker":"Ryan Webster","startTime":1901.233,"endTime":1902.943,"body":"And that I can't do this alone."},{"speaker":"Ryan Webster","startTime":1902.943,"endTime":1905.703,"body":"So what kind of team do I,"},{"speaker":"Ryan Webster","startTime":1902.943,"endTime":1905.703,"body":"I need to put behind it?"},{"speaker":"Ryan Webster","startTime":1905.733,"endTime":1907.473,"body":"What are their roles,"},{"speaker":"Ryan Webster","startTime":1905.733,"endTime":1907.473,"body":"responsibilities gonna be?"},{"speaker":"Ryan Webster","startTime":1907.773,"endTime":1910.232,"body":"So, went out and kinda learned"},{"speaker":"Ryan Webster","startTime":1907.773,"endTime":1910.232,"body":"that lesson the hard way."},{"speaker":"Ryan Webster","startTime":1910.232,"endTime":1911.397,"body":"But it was a great education."},{"speaker":"Ryan Webster","startTime":1911.577,"endTime":1914.727,"body":"And through that process I"},{"speaker":"Ryan Webster","startTime":1911.577,"endTime":1914.727,"body":"learned how to build a team, how"},{"speaker":"Ryan Webster","startTime":1914.732,"endTime":1917.997,"body":"to manage a team effectively to"},{"speaker":"Ryan Webster","startTime":1914.732,"endTime":1917.997,"body":"generate the desired results."},{"speaker":"Warren Dresner","startTime":1918.297,"endTime":1919.327,"body":"I think for me."},{"speaker":"Warren Dresner","startTime":1919.627,"endTime":1922.387,"body":"Biggest mistake, I don't know if"},{"speaker":"Warren Dresner","startTime":1919.627,"endTime":1922.387,"body":"it's, I don't know if it's the"},{"speaker":"Warren Dresner","startTime":1922.387,"endTime":1927.187,"body":"biggest, but a big mistake would"},{"speaker":"Warren Dresner","startTime":1922.387,"endTime":1927.187,"body":"be, I think I waited too long to"},{"speaker":"Warren Dresner","startTime":1927.187,"endTime":1928.837,"body":"start thinking about passive income."},{"speaker":"Warren Dresner","startTime":1928.849,"endTime":1930.289,"body":"I fell into the corporate world."},{"speaker":"Warren Dresner","startTime":1930.289,"endTime":1933.709,"body":"I started working hard and had a salary"},{"speaker":"Warren Dresner","startTime":1930.289,"endTime":1933.709,"body":"and started earning more and more money."},{"speaker":"Warren Dresner","startTime":1933.732,"endTime":1937.152,"body":"But it probably wasn't until my late"},{"speaker":"Warren Dresner","startTime":1933.732,"endTime":1937.152,"body":"thirties when I actually sat back and"},{"speaker":"Warren Dresner","startTime":1937.152,"endTime":1941.362,"body":"thought, Actually, if I ever wanted to"},{"speaker":"Warren Dresner","startTime":1937.152,"endTime":1941.362,"body":"leave this job, I've got zero income."},{"speaker":"Warren Dresner","startTime":1941.616,"endTime":1943.476,"body":"Zero choice, zero alternatives."},{"speaker":"Warren Dresner","startTime":1943.656,"endTime":1945.126,"body":"And so I think that's my biggest mistake."},{"speaker":"Warren Dresner","startTime":1945.126,"endTime":1948.882,"body":"I should have started thinking about real"},{"speaker":"Warren Dresner","startTime":1945.126,"endTime":1948.882,"body":"estate and passive income in my twenties."},{"speaker":"Average Joe Finances","startTime":1949.182,"endTime":1949.422,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1949.422,"endTime":1949.812,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1950.202,"endTime":1951.552,"body":"Both, fantastic answers."},{"speaker":"Average Joe Finances","startTime":1952.062,"endTime":1955.932,"body":"Ryan for you, when you learn these"},{"speaker":"Average Joe Finances","startTime":1952.062,"endTime":1955.932,"body":"lessons that way, sometimes it could"},{"speaker":"Average Joe Finances","startTime":1955.932,"endTime":1958.932,"body":"be the most expensive education"},{"speaker":"Average Joe Finances","startTime":1955.932,"endTime":1958.932,"body":"you get, but at the same time,"},{"speaker":"Average Joe Finances","startTime":1958.946,"endTime":1960.476,"body":"it's education that you get, right?"},{"speaker":"Average Joe Finances","startTime":1960.476,"endTime":1963.896,"body":"It's something that you learn"},{"speaker":"Average Joe Finances","startTime":1960.476,"endTime":1963.896,"body":"to make you better and make"},{"speaker":"Average Joe Finances","startTime":1963.896,"endTime":1965.056,"body":"better decisions in the future."},{"speaker":"Average Joe Finances","startTime":1965.286,"endTime":1968.346,"body":"And then Warren, that's probably"},{"speaker":"Average Joe Finances","startTime":1965.286,"endTime":1968.346,"body":"one of the answers I actually hear"},{"speaker":"Average Joe Finances","startTime":1968.346,"endTime":1971.796,"body":"the most is a lot of people say, Oh,"},{"speaker":"Average Joe Finances","startTime":1968.346,"endTime":1971.796,"body":"I wish I would've started sooner."},{"speaker":"Average Joe Finances","startTime":1972.096,"endTime":1973.351,"body":"And, that is the case for a lot of people."},{"speaker":"Average Joe Finances","startTime":1973.351,"endTime":1976.231,"body":"So that's why I hope that we get"},{"speaker":"Average Joe Finances","startTime":1973.351,"endTime":1976.231,"body":"these messages out there to resonate,"},{"speaker":"Average Joe Finances","startTime":1976.231,"endTime":1979.981,"body":"especially with the younger listeners,"},{"speaker":"Average Joe Finances","startTime":1976.231,"endTime":1979.981,"body":"to say, Hey if you're in your early"},{"speaker":"Average Joe Finances","startTime":1979.986,"endTime":1983.341,"body":"twenties and this is something"},{"speaker":"Average Joe Finances","startTime":1979.986,"endTime":1983.341,"body":"you're thinking about, just jump."},{"speaker":"Average Joe Finances","startTime":1983.681,"endTime":1985.592,"body":"Don't run, don't walk, run."},{"speaker":"Average Joe Finances","startTime":1985.609,"endTime":1986.059,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1986.089,"endTime":1986.329,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1986.329,"endTime":1987.229,"body":"Appreciate that guys."},{"speaker":"Average Joe Finances","startTime":1987.679,"endTime":1991.189,"body":"Next question I have is, what is"},{"speaker":"Average Joe Finances","startTime":1987.679,"endTime":1991.189,"body":"something that you've learned that you"},{"speaker":"Average Joe Finances","startTime":1991.189,"endTime":1992.989,"body":"wish you knew when you first started?"},{"speaker":"Warren Dresner","startTime":1993.289,"endTime":1994.549,"body":"I could"},{"speaker":"Warren Dresner","startTime":1993.289,"endTime":1994.549,"body":"go first on that one."},{"speaker":"Warren Dresner","startTime":1994.609,"endTime":1999.736,"body":"So I think we've alluded to it,"},{"speaker":"Warren Dresner","startTime":1994.609,"endTime":1999.736,"body":"but this really is a team sport."},{"speaker":"Warren Dresner","startTime":1999.786,"endTime":2004.436,"body":"A lot of people try and go it alone, and"},{"speaker":"Warren Dresner","startTime":1999.786,"endTime":2004.436,"body":"I definitely did as well, especially when"},{"speaker":"Warren Dresner","startTime":2004.436,"endTime":2005.966,"body":"I was looking to buy single family homes."},{"speaker":"Warren Dresner","startTime":2006.931,"endTime":2011.011,"body":"But the sooner you can realize that"},{"speaker":"Warren Dresner","startTime":2006.931,"endTime":2011.011,"body":"it is a team sport, that networking"},{"speaker":"Warren Dresner","startTime":2011.071,"endTime":2015.751,"body":"is incredibly important and powerful"},{"speaker":"Warren Dresner","startTime":2011.071,"endTime":2015.751,"body":"because surrounding itself with"},{"speaker":"Warren Dresner","startTime":2015.751,"endTime":2018.121,"body":"other people who are doing this"},{"speaker":"Warren Dresner","startTime":2015.751,"endTime":2018.121,"body":"is gonna propel you forward."},{"speaker":"Warren Dresner","startTime":2018.121,"endTime":2020.157,"body":"It's gonna let you go faster and further."},{"speaker":"Warren Dresner","startTime":2020.161,"endTime":2022.335,"body":"So I'd say that's the"},{"speaker":"Warren Dresner","startTime":2020.161,"endTime":2022.335,"body":"biggest thing for me."},{"speaker":"Warren Dresner","startTime":2022.635,"endTime":2025.725,"body":"Realize that networking is important"},{"speaker":"Warren Dresner","startTime":2022.635,"endTime":2025.725,"body":"and throw yourself into it."},{"speaker":"Ryan Webster","startTime":2026.025,"endTime":2026.355,"body":"Yeah."},{"speaker":"Ryan Webster","startTime":2026.355,"endTime":2029.868,"body":"I think for me, one of the things that"},{"speaker":"Ryan Webster","startTime":2026.355,"endTime":2029.868,"body":"it took a while to click and figured"},{"speaker":"Ryan Webster","startTime":2029.868,"endTime":2032.822,"body":"this out a lot Sooner things would've"},{"speaker":"Ryan Webster","startTime":2029.868,"endTime":2032.822,"body":"happened a lot faster at scale."},{"speaker":"Ryan Webster","startTime":2032.822,"endTime":2035.337,"body":"But it is, it really starts with mindset."},{"speaker":"Ryan Webster","startTime":2035.337,"endTime":2038.155,"body":"What you're capable of and where"},{"speaker":"Ryan Webster","startTime":2035.337,"endTime":2038.155,"body":"you can end up really starts"},{"speaker":"Ryan Webster","startTime":2038.155,"endTime":2039.835,"body":"with what you believe you can do."},{"speaker":"Average Joe Finances","startTime":2040.135,"endTime":2041.185,"body":"Awesome, awesome."},{"speaker":"Average Joe Finances","startTime":2041.185,"endTime":2042.445,"body":"Both fantastic answers."},{"speaker":"Average Joe Finances","startTime":2042.445,"endTime":2046.765,"body":"And we, talked about that earlier too,"},{"speaker":"Average Joe Finances","startTime":2042.445,"endTime":2046.765,"body":"the importance of networking and building"},{"speaker":"Average Joe Finances","startTime":2046.765,"endTime":2049.285,"body":"these relationships and how huge that is."},{"speaker":"Average Joe Finances","startTime":2049.295,"endTime":2052.505,"body":"If you're listening to this and"},{"speaker":"Average Joe Finances","startTime":2049.295,"endTime":2052.505,"body":"you're not sure where to start,"},{"speaker":"Average Joe Finances","startTime":2052.775,"endTime":2054.515,"body":"go check out some Facebook groups."},{"speaker":"Average Joe Finances","startTime":2054.605,"endTime":2056.105,"body":"Go find a local meetup."},{"speaker":"Average Joe Finances","startTime":2056.105,"endTime":2058.895,"body":"You could find 'em on"},{"speaker":"Average Joe Finances","startTime":2056.105,"endTime":2058.895,"body":"meetup.com or even on Facebook."},{"speaker":"Average Joe Finances","startTime":2058.895,"endTime":2060.845,"body":"There's so many different places"},{"speaker":"Average Joe Finances","startTime":2058.895,"endTime":2060.845,"body":"where you could find these meetups."},{"speaker":"Average Joe Finances","startTime":2061.085,"endTime":2065.465,"body":"But go meet other like-minded"},{"speaker":"Average Joe Finances","startTime":2061.085,"endTime":2065.465,"body":"people to yourself and they can help"},{"speaker":"Average Joe Finances","startTime":2065.465,"endTime":2066.755,"body":"push you in the right direction."},{"speaker":"Average Joe Finances","startTime":2066.76,"endTime":2067.63,"body":"So awesome."},{"speaker":"Average Joe Finances","startTime":2067.69,"endTime":2069.46,"body":"And then mindset too is huge."},{"speaker":"Average Joe Finances","startTime":2069.52,"endTime":2070.72,"body":"Mindset is absolutely huge."},{"speaker":"Average Joe Finances","startTime":2070.72,"endTime":2071.83,"body":"You have to have that shift."},{"speaker":"Average Joe Finances","startTime":2072.37,"endTime":2076.21,"body":"Otherwise, if you keep thinking like an"},{"speaker":"Average Joe Finances","startTime":2072.37,"endTime":2076.21,"body":"employee, you always will be an employee."},{"speaker":"Average Joe Finances","startTime":2076.54,"endTime":2079.51,"body":"So it's time for you to be"},{"speaker":"Average Joe Finances","startTime":2076.54,"endTime":2079.51,"body":"your own boss, so I love that."},{"speaker":"Average Joe Finances","startTime":2079.52,"endTime":2079.85,"body":"All right."},{"speaker":"Average Joe Finances","startTime":2079.857,"endTime":2083.007,"body":"The next question is, do you"},{"speaker":"Average Joe Finances","startTime":2079.857,"endTime":2083.007,"body":"have any tips or tricks that you"},{"speaker":"Average Joe Finances","startTime":2083.007,"endTime":2086.017,"body":"would recommend to someone that"},{"speaker":"Average Joe Finances","startTime":2083.007,"endTime":2086.017,"body":"is just getting started today?"},{"speaker":"Warren Dresner","startTime":2086.217,"endTime":2089.397,"body":"For me along the lines"},{"speaker":"Warren Dresner","startTime":2086.217,"endTime":2089.397,"body":"of I wish I had gotten started earlier,"},{"speaker":"Warren Dresner","startTime":2089.697,"endTime":2093.537,"body":"I'd say to someone really young who"},{"speaker":"Warren Dresner","startTime":2089.697,"endTime":2093.537,"body":"wants to get into this, start house"},{"speaker":"Warren Dresner","startTime":2093.537,"endTime":2095.097,"body":"hacking, look into house hacking."},{"speaker":"Warren Dresner","startTime":2095.107,"endTime":2099.277,"body":"You can go buy something with three"},{"speaker":"Warren Dresner","startTime":2095.107,"endTime":2099.277,"body":"bedrooms, live in one of the bedrooms"},{"speaker":"Warren Dresner","startTime":2099.282,"endTime":2102.757,"body":"and rent out the other two, do some"},{"speaker":"Warren Dresner","startTime":2099.282,"endTime":2102.757,"body":"work to add value to the property."},{"speaker":"Warren Dresner","startTime":2103.057,"endTime":2104.727,"body":"I think that's a great"},{"speaker":"Warren Dresner","startTime":2103.057,"endTime":2104.727,"body":"way of getting started."},{"speaker":"Ryan Webster","startTime":2104.894,"endTime":2105.194,"body":"Yeah."},{"speaker":"Ryan Webster","startTime":2105.344,"endTime":2108.824,"body":"And if you're just getting started"},{"speaker":"Ryan Webster","startTime":2105.344,"endTime":2108.824,"body":"and you have an idea of where you"},{"speaker":"Ryan Webster","startTime":2108.824,"endTime":2112.607,"body":"want to be and if you're looking"},{"speaker":"Ryan Webster","startTime":2108.824,"endTime":2112.607,"body":"to really scale something you know"},{"speaker":"Ryan Webster","startTime":2112.852,"endTime":2114.557,"body":"that work starts pretty early."},{"speaker":"Ryan Webster","startTime":2115.162,"endTime":2119.027,"body":"The same journey that we went on"},{"speaker":"Ryan Webster","startTime":2115.162,"endTime":2119.027,"body":"was you need to understand what"},{"speaker":"Ryan Webster","startTime":2119.027,"endTime":2120.257,"body":"your team needs to look like."},{"speaker":"Ryan Webster","startTime":2120.257,"endTime":2124.932,"body":"You need to start networking with people"},{"speaker":"Ryan Webster","startTime":2120.257,"endTime":2124.932,"body":"that can fill positions in that team, you"},{"speaker":"Ryan Webster","startTime":2124.932,"endTime":2129.822,"body":"need to have an investment strategy and"},{"speaker":"Ryan Webster","startTime":2124.932,"endTime":2129.822,"body":"idea of how and where you wanna invest."},{"speaker":"Ryan Webster","startTime":2129.834,"endTime":2133.218,"body":"And do all that work front and be"},{"speaker":"Ryan Webster","startTime":2129.834,"endTime":2133.218,"body":"intentional about what you're doing."},{"speaker":"Ryan Webster","startTime":2133.23,"endTime":2138.475,"body":"And then step into investing itself and"},{"speaker":"Ryan Webster","startTime":2133.23,"endTime":2138.475,"body":"building where you want to go from there."},{"speaker":"Average Joe Finances","startTime":2138.484,"endTime":2139.624,"body":"Yeah, absolutely love that."},{"speaker":"Average Joe Finances","startTime":2139.624,"endTime":2141.244,"body":"Especially the word that you use there."},{"speaker":"Average Joe Finances","startTime":2141.724,"endTime":2142.624,"body":"Be intentional."},{"speaker":"Average Joe Finances","startTime":2142.954,"endTime":2144.484,"body":"Be intentional about what you're doing."},{"speaker":"Average Joe Finances","startTime":2144.497,"endTime":2146.627,"body":"And then Warren house hacking is huge."},{"speaker":"Average Joe Finances","startTime":2146.627,"endTime":2149.16,"body":"So many people sleep on"},{"speaker":"Average Joe Finances","startTime":2146.627,"endTime":2149.16,"body":"that strategy, right?"},{"speaker":"Average Joe Finances","startTime":2149.16,"endTime":2152.614,"body":"Because it's one of those things that"},{"speaker":"Average Joe Finances","startTime":2149.16,"endTime":2152.614,"body":"you can essentially buy a property"},{"speaker":"Average Joe Finances","startTime":2152.619,"endTime":2156.664,"body":"and live in it for free while somebody"},{"speaker":"Average Joe Finances","startTime":2152.619,"endTime":2156.664,"body":"else is paying your mortgage and you've"},{"speaker":"Average Joe Finances","startTime":2156.934,"endTime":2160.114,"body":"got a free place to stay while you're"},{"speaker":"Average Joe Finances","startTime":2156.934,"endTime":2160.114,"body":"figuring out what to do with your life."},{"speaker":"Average Joe Finances","startTime":2160.114,"endTime":2161.644,"body":"So that's fantastic."},{"speaker":"Average Joe Finances","startTime":2161.669,"endTime":2164.514,"body":"And if not free, at least at"},{"speaker":"Average Joe Finances","startTime":2161.669,"endTime":2164.514,"body":"a significantly reduced price."},{"speaker":"Average Joe Finances","startTime":2164.537,"endTime":2164.957,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2165.287,"endTime":2165.467,"body":"All right."},{"speaker":"Average Joe Finances","startTime":2165.467,"endTime":2169.517,"body":"So for both of you now the final"},{"speaker":"Average Joe Finances","startTime":2165.467,"endTime":2169.517,"body":"question is do you guys have a"},{"speaker":"Average Joe Finances","startTime":2169.517,"endTime":2173.897,"body":"favorite business investing or real"},{"speaker":"Average Joe Finances","startTime":2169.517,"endTime":2173.897,"body":"estate related book or podcast or"},{"speaker":"Average Joe Finances","startTime":2173.897,"endTime":2175.217,"body":"both that you could share with us?"},{"speaker":"Ryan Webster","startTime":2175.417,"endTime":2178.577,"body":"I think the real"},{"speaker":"Ryan Webster","startTime":2175.417,"endTime":2178.577,"body":"gateway drug into real estate is the"},{"speaker":"Ryan Webster","startTime":2178.577,"endTime":2182.417,"body":"bigger pockets platform and podcast,"},{"speaker":"Ryan Webster","startTime":2178.577,"endTime":2182.417,"body":"and that, that's really where this"},{"speaker":"Ryan Webster","startTime":2182.417,"endTime":2187.157,"body":"mindset shift started with me and"},{"speaker":"Ryan Webster","startTime":2182.417,"endTime":2187.157,"body":"into getting into buy and hold and"},{"speaker":"Ryan Webster","startTime":2187.157,"endTime":2188.927,"body":"rentals for long term cash flow."},{"speaker":"Warren Dresner","startTime":2189.227,"endTime":2190.037,"body":"I can go with the book."},{"speaker":"Warren Dresner","startTime":2190.037,"endTime":2191.177,"body":"I agree on the podcast."},{"speaker":"Warren Dresner","startTime":2191.177,"endTime":2193.097,"body":"I came in through bigger pockets as well."},{"speaker":"Warren Dresner","startTime":2193.127,"endTime":2195.957,"body":"I think it is the gateway"},{"speaker":"Warren Dresner","startTime":2193.127,"endTime":2195.957,"body":"drug into real estate."},{"speaker":"Warren Dresner","startTime":2196.257,"endTime":2197.877,"body":"I try and read widely."},{"speaker":"Warren Dresner","startTime":2197.89,"endTime":2199.66,"body":"So there've been so many"},{"speaker":"Warren Dresner","startTime":2197.89,"endTime":2199.66,"body":"books over the years."},{"speaker":"Warren Dresner","startTime":2199.69,"endTime":2203.47,"body":"One that's really stuck with me in"},{"speaker":"Warren Dresner","startTime":2199.69,"endTime":2203.47,"body":"the last year or so, it's been a book"},{"speaker":"Warren Dresner","startTime":2203.47,"endTime":2208.24,"body":"that was called it's by MJ DeMarco,"},{"speaker":"Warren Dresner","startTime":2203.47,"endTime":2208.24,"body":"and it's called the Rat Race Escape."},{"speaker":"Warren Dresner","startTime":2209.14,"endTime":2211.95,"body":"So it's really about just"},{"speaker":"Warren Dresner","startTime":2209.14,"endTime":2211.95,"body":"building passive income."},{"speaker":"Warren Dresner","startTime":2212.157,"endTime":2214.947,"body":"Finding a way to financial freedom."},{"speaker":"Warren Dresner","startTime":2215.307,"endTime":2218.097,"body":"And it's written in a really nice"},{"speaker":"Warren Dresner","startTime":2215.307,"endTime":2218.097,"body":"way because they interweave a"},{"speaker":"Warren Dresner","startTime":2218.097,"endTime":2221.157,"body":"fictional story about a couple"},{"speaker":"Warren Dresner","startTime":2218.097,"endTime":2221.157,"body":"with some educational content."},{"speaker":"Warren Dresner","startTime":2221.247,"endTime":2222.357,"body":"So I really enjoyed that one."},{"speaker":"Average Joe Finances","startTime":2222.397,"endTime":2222.817,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2222.817,"endTime":2223.027,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2223.027,"endTime":2224.857,"body":"So I, definitely wrote that one down."},{"speaker":"Average Joe Finances","startTime":2225.337,"endTime":2227.527,"body":"I didn't have to write down"},{"speaker":"Average Joe Finances","startTime":2225.337,"endTime":2227.527,"body":"bigger pockets, cuz that was"},{"speaker":"Average Joe Finances","startTime":2227.532,"endTime":2229.027,"body":"also my gateway drug as well."},{"speaker":"Average Joe Finances","startTime":2229.082,"endTime":2231.272,"body":"I'm an avid listener of that podcast."},{"speaker":"Average Joe Finances","startTime":2231.272,"endTime":2232.202,"body":"Absolutely love it."},{"speaker":"Average Joe Finances","startTime":2232.205,"endTime":2233.195,"body":"Really good stuff guys."},{"speaker":"Average Joe Finances","startTime":2233.195,"endTime":2234.515,"body":"I appreciate your answers on that."},{"speaker":"Average Joe Finances","startTime":2234.529,"endTime":2237.745,"body":"Okay that's it for the final"},{"speaker":"Average Joe Finances","startTime":2234.529,"endTime":2237.745,"body":"round, but I do have one more"},{"speaker":"Average Joe Finances","startTime":2237.775,"endTime":2239.335,"body":"extremely important question."},{"speaker":"Average Joe Finances","startTime":2240.08,"endTime":2243.68,"body":"Especially because of how much stuff"},{"speaker":"Average Joe Finances","startTime":2240.08,"endTime":2243.68,"body":"we touched on, and we got into a little"},{"speaker":"Average Joe Finances","startTime":2243.68,"endTime":2247.28,"body":"bit more of the nitty gritty of, how"},{"speaker":"Average Joe Finances","startTime":2243.68,"endTime":2247.28,"body":"you guys build teams and put these"},{"speaker":"Average Joe Finances","startTime":2247.52,"endTime":2249.35,"body":"plans together to purchase your assets."},{"speaker":"Average Joe Finances","startTime":2249.98,"endTime":2253.28,"body":"So there's people that are listening"},{"speaker":"Average Joe Finances","startTime":2249.98,"endTime":2253.28,"body":"right now that are like, Hey, we"},{"speaker":"Average Joe Finances","startTime":2253.28,"endTime":2256.754,"body":"wanna know more about Warren and"},{"speaker":"Average Joe Finances","startTime":2253.28,"endTime":2256.754,"body":"Ryan and we wanna know more about"},{"speaker":"Average Joe Finances","startTime":2257.114,"endTime":2259.004,"body":"their business equity yield group."},{"speaker":"Average Joe Finances","startTime":2259.274,"endTime":2262.874,"body":"So if you could share with us,"},{"speaker":"Average Joe Finances","startTime":2259.274,"endTime":2262.874,"body":"do you guys have a website where"},{"speaker":"Average Joe Finances","startTime":2262.879,"endTime":2265.724,"body":"people could find more information,"},{"speaker":"Average Joe Finances","startTime":2262.879,"endTime":2265.724,"body":"social media, anything like that,"},{"speaker":"Average Joe Finances","startTime":2265.729,"endTime":2266.874,"body":"that you could share with ustoday?"},{"speaker":"Warren Dresner","startTime":2267.479,"endTime":2267.719,"body":"Sure."},{"speaker":"Warren Dresner","startTime":2268.019,"endTime":2271.659,"body":"The best way would be to head to our"},{"speaker":"Warren Dresner","startTime":2268.019,"endTime":2271.659,"body":"website, it's equityyieldgroup.com."},{"speaker":"Warren Dresner","startTime":2272.189,"endTime":2274.619,"body":"On there you can see what"},{"speaker":"Warren Dresner","startTime":2272.189,"endTime":2274.619,"body":"we're up to, what we're about."},{"speaker":"Warren Dresner","startTime":2274.889,"endTime":2278.219,"body":"You can click on the contact"},{"speaker":"Warren Dresner","startTime":2274.889,"endTime":2278.219,"body":"button and contact us directly"},{"speaker":"Warren Dresner","startTime":2278.219,"endTime":2279.749,"body":"or sign up to our investor list."},{"speaker":"Warren Dresner","startTime":2280.049,"endTime":2281.639,"body":"That will be the absolute best way."},{"speaker":"Average Joe Finances","startTime":2281.939,"endTime":2282.539,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":2282.629,"endTime":2284.159,"body":"So that's where you can find 'em, guys."},{"speaker":"Average Joe Finances","startTime":2284.399,"endTime":2287.729,"body":"I'll make sure I have the links in the"},{"speaker":"Average Joe Finances","startTime":2284.399,"endTime":2287.729,"body":"show notes to make it easier for you."},{"speaker":"Average Joe Finances","startTime":2287.729,"endTime":2291.209,"body":"So you can either just click it"},{"speaker":"Average Joe Finances","startTime":2287.729,"endTime":2291.209,"body":"or copy and paste and go check out"},{"speaker":"Average Joe Finances","startTime":2291.689,"endTime":2293.399,"body":"what Warren and Ryan are all about."},{"speaker":"Average Joe Finances","startTime":2293.729,"endTime":2296.697,"body":"And we know a little bit about what"},{"speaker":"Average Joe Finances","startTime":2293.729,"endTime":2296.697,"body":"they're about just from this interview."},{"speaker":"Average Joe Finances","startTime":2296.7,"endTime":2297.955,"body":"And I greatly appreciate it."},{"speaker":"Average Joe Finances","startTime":2297.955,"endTime":2301.142,"body":"So guys, thank you so much for taking"},{"speaker":"Average Joe Finances","startTime":2297.955,"endTime":2301.142,"body":"the time to come in on the show with me"},{"speaker":"Average Joe Finances","startTime":2301.142,"endTime":2305.452,"body":"today and explaining what you guys do"},{"speaker":"Average Joe Finances","startTime":2301.142,"endTime":2305.452,"body":"and sharing your story with all of us."},{"speaker":"Warren Dresner","startTime":2306.022,"endTime":2306.562,"body":"Thanks, Mike."},{"speaker":"Warren Dresner","startTime":2306.562,"endTime":2307.142,"body":"It's been good."},{"speaker":"Ryan Webster","startTime":2307.632,"endTime":2308.632,"body":"Yeah, thanks for having us."},{"speaker":"Average Joe Finances","startTime":2309.022,"endTime":2309.472,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2309.592,"endTime":2310.522,"body":"Aloha from Hawaii."}]}