The Most Dwanderful Real Estate Podcast Ever!

Money in the Walls: The Hidden Benefits of Commercial Real Estate - Kamyar Rezaie

• Dwan Bent-Twyford • Season 7 • Episode 393

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Curious about commercial real estate but unsure where to start? In this enlightening conversation, commercial lending expert Kamyar demystifies the process of acquiring commercial properties and reveals why they often represent superior investments to residential real estate.

The financial advantages of commercial property ownership become immediately clear as Kamyar explains the hands-off nature of management - "You're literally just getting rent every month" while tenants handle most maintenance responsibilities. This stark contrast to the constant demands of residential properties makes commercial real estate particularly attractive for investors seeking passive income streams.

Before taking the commercial plunge, prospective investors should perform crucial preparation steps. Reviewing credit reports, analyzing tax returns, and understanding different qualifying ratios for owner-occupied versus investment properties form the foundation of successful commercial investing. The conversation explores various financing options, from 25-year fixed SBA loans to conventional structures amortized over decades.

Tax strategies emerge as a compelling reason to consider commercial investments. Cost segregation allows accelerated depreciation, while opportunity zones offer potential elimination of capital gains taxes after ten years of ownership. "I have clients that buy one or two buildings a year just to take advantage of cost segregation," Kamyar reveals, demonstrating how savvy investors leverage these advantages to rapidly expand their portfolios.

The discussion extends beyond immediate benefits to long-term legacy planning. Establishing trusts that ensure properties remain family assets across generations creates true multigenerational wealth rather than temporary prosperity. First-time investors receive practical guidance: focus locally, determine your investment goals, and leverage free resources like LoopNet to identify properties.

Ready to transform your financial future through commercial real estate? Connect with experts who can guide your journey and subscribe to continue exploring wealth-building strategies that stand the test of time.

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Make it a Dwanderful Day!

Dwan Bent-Twyford:

Hey everybody, welcome to The Most Dwanderful Real Estate Podcast Ever. We just hit 1 million downloads, so thank all of you for that. It was a very exciting day for me to finally hit a million, so now we need to work on 2 million. So listen, share, tell your friends. Find me at dwanderful. com. I took my first name, Dwan and wonderful, and made a new word, Dwanderful and I'm excited to bring you another really amazing guest. I want to make sure I don't butcher the name cam your yes, thank you for having me.

Dwan Bent-Twyford:

Did I do it right?

Kamyar Rezaie:

Yes, you did.

Dwan Bent-Twyford:

Ah see, I've been working on it, kamyar. So he's going to share what he does and we're going to have some fun, so we always just like dive right in. So, kamyar, how are you today?

Kamyar Rezaie:

I'm well, how about yourself?

Dwan Bent-Twyford:

I'm good. I'm really excited to be here. Thank you for taking time out of your day. We over here at the wonderful team realize how valuable your time is, so we appreciate it when someone spends their time with us.

Kamyar Rezaie:

Thank you.

Dwan Bent-Twyford:

So I like to just, instead of going through all your, all your stuff, I just like you to tell us in just a couple of sentences, just a few sentences, what you do, how we find you online, and then I'm going to ask you some fun questions and find out how you came to be who you are today.

Kamyar Rezaie:

All right. So I'm a commercial real estate advisor. I help on the lending side on different you know lending platforms in terms of you know we have SBA loans, we have CMBS loans, we have conventional loans, life insurance money, all the different avenues. So, depending on the client's needs and personal financial statement, we place the loan with a bank to make the deal happen and close escrow.

Dwan Bent-Twyford:

Nice, okay, and how do people find you online, or just your website or whatever you want for people to reach you?

Kamyar Rezaie:

Sure, they can reach me at the office at 818-703-9337. I have YouTube, instagram, facebook. You know all the different social platforms.

Dwan Bent-Twyford:

And it's under your name.

Kamyar Rezaie:

It's under WembleysInc. com W-E-M-B-L-E-Y-S-I-N-C.

Dwan Bent-Twyford:

Nice, okay, well, that sounds easy enough, and so let's talk about that then. So you do commercial lending.

Kamyar Rezaie:

Correct.

Dwan Bent-Twyford:

So I love commercial. I actually, within the last 10 years, have acquired 28 commercial properties and having had really none, one or two, you know, in the 20 years before that. So I think I love commercial, but I think a lot of people what do you think one of the biggest misconceptions is For someone who's like I'm going to buy a commercial building and they and it's their first one Because I bought my first one not a hundred percent knowing what I was doing I was like, yeah, how hard could it be? I'll figure it out. But I also had 20 years of experience behind me. So if someone comes to you they've got the money, they got the credit. They want a commercial building. What are some things they should maybe know or watch out for before they dive into that side of the business?

Kamyar Rezaie:

Well, obviously, number one anytime you want to get credit, look at your credit report. Make sure there's no, you know, mistakes on there or derogatories that you don't know about. You know credit score is a big effect. Number two look at your last two years of tax returns as of the net income versus all of the liabilities you have on your credit report.

Dwan Bent-Twyford:

Okay.

Kamyar Rezaie:

And then it all depends Are you going to buy be buying a building for your own business or are you buying it as an investment? So there will be different ratios.

Dwan Bent-Twyford:

So there's different ratios if you're buying it for to rent it out Correct Versus putting in business in it.

Kamyar Rezaie:

Exactly.

Dwan Bent-Twyford:

And what would that be Like? Just what's an example. What does that mean?

Kamyar Rezaie:

Means like, let's say, if you're buying it for your own business, you have to have enough net income on your corporate side to be able to afford the new payments. There are add-backs of what you're currently paying for rent and depreciation.

Kamyar Rezaie:

After adding those back you have to have enough income to be able to support the new payment on the new building. And if you're buying it to rent because I bought all mine to rent, then that's different. Then they typically you know some banks look at your net income or your personal return. Can support all of the liabilities you have on your personal credit report. And then they've, you know know, number one focus is actually the building itself. Where they look can it support itself with the amount of down payment and the rate you're getting? Then they you know some banks do look at global cash flow and some banks don't okay, so, yeah, so that's good.

Dwan Bent-Twyford:

Yeah, we, um, we my husband is from clinton, iowa, and we they have like a. You could tell the downtown used to be like this really great little shopping mecca and shops and stores, and you know, back in the day, and then you know they started building all the things like over here, like the Walmart, the restaurants that people sort of left the downtown and went there there. So now there's a basically a city re-beautification program going on where they're giving people they made it an opportunity zone and they're giving people grants for you know, outside things, facias and you know stuff like that and they're trying to like bring back the downtown and they gave everybody a lot of really great credits and things to buy down there. So we bought a building and we bought another one. They're like, okay, we'll just get one more.

Dwan Bent-Twyford:

And then like this woman found out. We bought that woman's just like, I've got three, will you take my buildings? And the bank is like, hey, we've got a couple where you take our buildings. And then all of a sudden we were like, okay, now we have 20. It's like stop. So I tell my husband stop buying buildings. But I don't think they looked at a whole lot of those things. So some of these buildings have been boarded up for a decade. So a lot of money out of pocket to buy them. Some of them were beautiful, just beautiful, already had tenants, the whole thing. But some are just like, oh my dude, we're going to be working on this building for a decade, but the outcome will be great.

Dwan Bent-Twyford:

No, it will be so. And you know it's funny because just in the last couple of years the property value is in because that downtown it's on the Mississippi river, so the river's here, so the downtown is three blocks this way and three blocks that way. So everyone in that little nine block area pays their taxes into what's called the downtown partnership fund and then we use that money to do events and host things to get people to come downtown. And but since then we've had a couple bars and some restaurants and, um, just all kinds of really antique malls, just all kinds of really fun little stores where people can come and like spend the whole day and, you know, shop and eat. But it's still not completely, completely done. So when someone wants to buy something like that, it's just like been sitting there forever, until the end of the time. They should probably just go get a hard money loan or something right.

Kamyar Rezaie:

Typically depending on, again, their experience and background and PFS, it'd right.

Dwan Bent-Twyford:

Typically depending on, again their experience and background and PFS be best to get a hard money loan. You know, fix up the place, get it. You know, rent it out and then go get a permanent loan on it. Yeah, we just refinanced a couple of our buildings, just in the last week actually, because they were they were too trashed to get a loan. But now, you know, we put a bunch of money in and they're gorgeous, and so we actually just yesterday I think, refinanced one of them just yesterday, but it looks gorgeous. You can't even tell it was ever the same building, Right, you know, so is commercial like a really giant part of the real estate industry, do you feel?

Kamyar Rezaie:

It is, Definitely is, and more than before. You know, always you have this scare of people trying to go into the commercial space. You know, how do I get a loan? What do I do? Where do I start? You know. But once they get everything going, they buy the first one and the second one. Then it's, you know, they're like, oh, I like this, and they rather be in the commercial space rather than the residential space.

Dwan Bent-Twyford:

And what would you? What do you think is like the benefit of being in Cause, like I know, for me personally, but, like you know, it's nice to be able to hear what you think. What do you think is the difference, the benefit of being in the commercial space versus?

Kamyar Rezaie:

the residential, I think the main thing in commercials you're less hands-on versus residential. You know, especially on. You know, let's say on these industrial buildings and stuff like that, you know they're really as an owner of that building you have no responsibility. The tenant takes care of everything. You're literally just getting rent every month.

Dwan Bent-Twyford:

Yeah, our tenants have to pay the electric, the water, the heat. They have to clean their own sidewalks when it snows, Right, they have to clean their own sidewalks when it snows, Right. You have to do a lot. But then if something breaks, like one of our boilers went out a couple of times, this is a big four-story very old building with an old boiler in it and that thing was $60,000 to fix. I was like what the hell? But we're in the process of taking each unit and getting them their own heat and air, one by one. But you know the whole thing to do that is a lot more than the 60 that it was to fix the boiler.

Dwan Bent-Twyford:

So sometimes these old buildings, you know it's a lot to get them done up to par up to par, but once they are, I mean, I feel like they're just gold mines right a lot of people I mean I mean a lot of you I've been investing for 35 years I mean a lot of people that are just like oh, I don't want to do commercials, it's too scary, but I'm like I don't understand. Like, what are you afraid of? Like I don't understand what they're afraid of, because it's like you'd rather have a bunch of and I have tenants too. So you'd rather have a bunch of, and I have tenants too. So if you'd rather have a bunch of single family homes and a bunch of tenants and a building like that's exactly my point.

Dwan Bent-Twyford:

I don't, I don't get it and I mean I, you know, I mean for me personally. When I started off, I rehabbed, then I became a wholesaler and then I became a landlord, then I stayed a wholesaler and then I bought like a building. And I bought a building and then just wholesale, wholesale rehab, rehab for 12 years. It's like I'm going to buy more commercial and then once you start commercial, you're like, oh, this is great. I don't know why I waited so long to do this, but I think for me too, there was nobody really to teach me more about it, because I learned kind of seat in my pants, you know, in my whole entire business, and I didn't know a lot about it, or like the funding and the things like that. Now, do you help people with any kind of education, teaching? Do you do that?

Kamyar Rezaie:

Oh yeah, I educate them, I tell them you know everything that's going on. I always advise them to get a very good accountant if they don't already have one, because you know there are. You know there is also the accelerated depreciation of 1031. I'm sorry, cost segregation and learn about 1031. If they're going to sell to put the capital gains you know, defer them. There's 1031 exchanges for like DSTs they should learn about in case they can't find a replacement. There's a lot of different rules that are working in their favor that they just need to know about.

Dwan Bent-Twyford:

So do you hold any kind of classes or any like hey guys, I'm going to teach you about this, or you just work with each individual person?

Kamyar Rezaie:

It's one, it's one-on-one.

Dwan Bent-Twyford:

Well, that's very nice. So someone comes to you and they're like hey, I heard you on Dwanterful.

Kamyar Rezaie:

And I wonderful, and I mentioned in mind some buildings you would sit and talk about. I would see where they are, where, what, they've done like.

Dwan Bent-Twyford:

I'll be honest with you. About 80% of my clients don't know what cost segregation is. Well, explain that. What is cost segregation to all the new folks right.

Kamyar Rezaie:

So I'm not an expert at it. I could just give you a very broad idea. It's basically accelerated depreciation over the first three years, where you can take a majority of the depreciation in the first three years, which allows you to pay less taxes.

Dwan Bent-Twyford:

Yes.

Kamyar Rezaie:

And so every time you buy a building, an investment building in a commercial even as a SPA, an on-rock commercial building you can do cost segregation. So I have clients that buy one or two buildings a year just to be able to take advantage of the cost segregation, accelerated depreciation, to pay less taxes, and the taxes they are savings they use it to buy more buildings.

Dwan Bent-Twyford:

Yes, agreed, and we bought ours in an opportunity zone. So as long as you own them for 10 years, there's no capital gains. So and people are like I didn't know that. I was like, yeah, there's no capital gains. So and people were like I didn't know that. I was like, yeah, there's opportunity.

Dwan Bent-Twyford:

But the thing is the opportunity zone. All people have to do is just Google opportunity zones and there's all kinds of sites that'll just come up with all the different states. Click your state, click your area, see where you want to buy. And even in the little town in Clinton that we buy, my son buys single family homes. He's like no, I'm staying in my space. My daughter they're like my other daughter said I'm going to buy commercial. So they're all kind of in different spaces in there.

Dwan Bent-Twyford:

But people don't realize that even in like, for example, clinton, I was like 25,000 people in the neighborhoods They'll have, you know, like this block is an opportunity zone, this block is not. This block is not and this block is. Why is that? Well, this block must have been really run down looking and the city wants someone to come in and buy it and rehab it and rent it and fix up the neighborhoods. But then also properties can be in opportunity zones and, like our whole downtown, the whole downtown is that if you go to the fourth and fifth block, which is still commercial, not opportunity zones, and then if you go this way, two or three blocks, they're still commercial, not opportunity. It's just this little area like that. So if someone's buying in like an opportunity zone, they want to borrow money, does that make any difference?

Kamyar Rezaie:

It doesn't make a difference in terms of lending aspect of it.

Dwan Bent-Twyford:

Okay.

Kamyar Rezaie:

But in terms of you know, again, they should speak to their CPAs. You know, if they keep it, if they're willing to keep it at 10 years and make sense, you know, then no capital gains that can be huge.

Dwan Bent-Twyford:

So and make sense. You know, then no capital gains that can be huge. So they can write up all the depreciation and go into it for the whole 10 years, then sell it and take all that money and pocket it and buy some more stuff.

Kamyar Rezaie:

They wouldn't need to do the 1031 exchange at that point.

Dwan Bent-Twyford:

Oh, yeah, yeah, yeah. So explain to people what that is. I find out that 99% of people if I tell them about that, they just have this blank look. They have no idea what 1031 exchange is.

Kamyar Rezaie:

Right. So 1031 exchange is basically when you own an investment property and you sell it and you have a good amount of capital gains and profit out of it versus paying capital gains taxes on it. You put it with a 1031 accommodator and you locate another property and you buy another property with those funds and you're deferring your capital gains taxes.

Dwan Bent-Twyford:

Right. So I think a little simpler is like you make you know a gob of money, you say, hey, I want to buy that, and you buy that with that same money, no taxes.

Kamyar Rezaie:

Exactly, and you can do it multiple times.

Dwan Bent-Twyford:

But don't they only have like and I don't you have to correct me don't they only have like 45 days to pick another property, or 60?

Kamyar Rezaie:

days. Right, there's more, there's timeframes and there's 45 days. You can get extensions. You have up to six months to close.

Dwan Bent-Twyford:

Yeah, I knew there was a couple of timeframes. It's like I actually haven't done that because we're keeping, we're just going to keep all of ours and then pass them down to our kids and our grandkids as we're trying to create generational wealth. And and I'm like, and we also are like, listen, by the time the grandkids get it they're like oh, me and pappy made us rich and we don't want to keep these buildings, we're just going to sell them. All. All the money goes to charity. They get no money unless they keep them and run them and keep passing them down so and then.

Kamyar Rezaie:

so you can also do generational 1031s oh okay, I did not know that.

Dwan Bent-Twyford:

That would be great.

Kamyar Rezaie:

Yeah, yeah. That's a great trust you've built there.

Dwan Bent-Twyford:

Yeah, so the kids are. So the grandkids, I mean, they're all under 10, so they don't get it. But my kids are like, well, it's something that you know. When you guys and I say, and I said, hey, listen, y'all are going to be basically overseeing the money in the buildings, they're really going to the kids. But if the kids grow up and like, oh, we can sell this and we can make you know $5 million, it's like now you can't sell it. You got to have kids and pass it down. And if you sell everything, it's all going to go to charity. You get nothing.

Dwan Bent-Twyford:

And I learned that from a guy that had $18 million worth of real estate and he said all my kids, I think, just want to live off and I feel like my grandkids are going to sell it. And then, sure enough, as soon as it went to the grandkids, they all tried to sell it and all went to charity. And I mean I knew about it ahead of time and then I checked back later on. It's like, oh no. The grandkids were like, oh my God, we're not going to sell it, we're not getting any money. All of a sudden they stepped in and started taking care of things.

Kamyar Rezaie:

Right, right. I mean at that point there's probably going to be no loan on those properties, so it's all just residual income. You put a nice property management team on there and you said you know you enjoy life.

Dwan Bent-Twyford:

Yeah, and this guy that told me that and I it would be like $20,000 altogether and he goes my kids will take care of it, my grandkids. I just know they'll sell it. So that's what we're doing. And then not too long ago I ran into one of them and then I go oh yeah, no, the first grandkids turned like 18. I was like, hey, we're going to sell. And they were like you get nothing. And then I don't think they understood they get never mind, we're going to take care of it now. So I'm like I think that's a good idea. So I told my husband. I said we need to do that because I don't want to work for us, and then all my kids work to keep it going and all the grandkids are like, ah, we're just going to sell it and we're going to like fly around the world.

Dwan Bent-Twyford:

Go rolling in the flowers.

Kamyar Rezaie:

And they will still be able. Your grandkids will still be able to fly around the world, you know. But it's going to be with the residual income.

Dwan Bent-Twyford:

Yes, and I just have to be responsible and take care of all the stuff I work so hard for. Exactly, I think that's a I like that. And so I met that guy. I was like you know what? That's a really good way to do things. We have a friend up in the mountains. His name is Duke and his family, like we live in a little town. We have a house in a little town called Bailey.

Dwan Bent-Twyford:

His family owned thousands of acres, like thousands of acres, and so he's my age, but I've known him for like 20 years already.

Dwan Bent-Twyford:

So when his parents passed away, they basically left it to the grandkids and then, like, Duke and his brothers and sisters are just like taking care of everything and they get X amount of money and this and that. And then he said, yeah, but all the grandkids are going to probably want to sell everything, and when you know when it's their turn, I said, well, is there not anything after that? And they were like no, they just his parents passed it to the grandkids, with the adult children that are my age, like taking care of it, earning money, managing whatever, but they can't sell or do anything until it gets to the grandkids. He said no, they're all going to sell everything. And then that also made me think like, well, I'm not going to let my kids do that. And I mean, they owned thousands and thousands of acres that they plotted off and sold them and built subdivisions. They own all this crazy amount of land and it's like wow, no-transcript.

Kamyar Rezaie:

I like your strategy better than that one.

Dwan Bent-Twyford:

I'm like and I said, and he's like, I know we can't change anything and I was like, so you should do this. But so, yeah, I don't. Sometimes I don't think people, I don't know they, maybe they don't think far enough ahead. But now, when you guys do a commercial loan, how long are those loans?

Kamyar Rezaie:

It depends. It can be as short as, say, about 40, 45 days, as long as you know, 90 days or 120 days, depending how you know just intense it is and the type of property.

Dwan Bent-Twyford:

I mean, how long are the loans? For? 10 years, 20 years?

Kamyar Rezaie:

So on the SBA side, when they're owner occupied, you can do a 25 year fixed, amortized over 25 years. So it's fixed throughout the whole period. There's also, you know, 5, 7, 10 available on those and then on the conventional owner occupied loans are typically, you know, like 10 over 20 or 20 years fixed, amortized over 20 years. And on the investment side they're either three year fixed, five year fixed, seven year fixed, 10 year fixed, amortized over 20, or amortized over 30 years.

Dwan Bent-Twyford:

Well, that's nice. So then you guys get out of. You get kind of in and out of them pretty quickly.

Kamyar Rezaie:

Well that's nice. So then you guys get out of it. You get kind of in and out of them pretty quickly. You know when the rates were really low back after during the COVID days. Oh yeah, majority of my clients on fixed on the whole term if it was available and they are loving life right now.

Dwan Bent-Twyford:

Oh yeah, oh yeah. Well, I always tell people you always want to get along, you always want fix, you want everything to be fixed all the time, because you just never know what's going to happen. I remember back in the days I don't know maybe in the 80s or 90s maybe, when they had all those adjustable rates and people's payments were going up to these crazy amounts and it was like, hmm, but I have never had one of those. I watched other people struggle with it. I thought I'm never going to do that.

Kamyar Rezaie:

Well, the rates in the late 70s, early 80s or in the 80s were up to 17%, 18%.

Dwan Bent-Twyford:

I can remember Now I was like in my 20s and the 80s, so probably before you were ever born. But I do remember my parents wanting to buy a house and the interest rates were like 18% or something and I didn't know anybody else. I'm like, oh, that doesn't sound bad. But then as I got oh, I got into real estate, it's like, oh, my god, who would buy a house with a even a 15 percent interest rate? Why would you do that? You just wait, or something. But I remember hearing my parents talking about it and then, and then later on you know they refinanced the house when rates went way, way, way, way down. But I can still remember them being like and that, looking back, it's like God, 18%, like who did that? But I think everybody did right. Like, if you wanted to buy a house, that was the deal.

Kamyar Rezaie:

That was the norm.

Dwan Bent-Twyford:

Do you imagine right now buying a house with 18% interest on it?

Kamyar Rezaie:

No.

Dwan Bent-Twyford:

I mean golly.

Kamyar Rezaie:

The last two, three generations won't understand it.

Dwan Bent-Twyford:

No, no, and I was not into real estate or anything. I just can remember them talking about the interest rates and like being high school-ish and learning about. We had those classes called family living and you learn how like things kids don't know today how to balance, checkbook and you know this sort of stuff. In the one class it was a one semester they took the guys and the girls and put them in together and they coupled you up, so you and the guy you were, you had to plan a wedding, um, we all went to a church and did little vows and we had to have budget and we had to figure out mortgage payments and how to budget and how to do a checkbook and how to do all this stuff in high school and I was like, oh, it's too bad they don't teach kids that today, because kids get out of school they don't even know how to deal with their money or their credit cards or any of their stuff like that.

Dwan Bent-Twyford:

But part of that class was that and looking at, you know, can you afford to buy a house and here's what the payments are, and it was just. It was really a really fun educational class. But I remember even in the class the interest rates and learning. Like you know, the payment is this much and if the interest is that you can only afford this much for a house, because this is what the payment is, and now you know, if you get a 7% interest rate, you can get that much house and still have the same payment.

Kamyar Rezaie:

Right.

Dwan Bent-Twyford:

I learned even in high school that you can get more house if you have less interest. And I looked at my parents. I was like you guys bought a house like that. Yeah, it sounds like it's crazy. It sounds like crazy stuff to me, so all right. So what is one actionable tip?

Kamyar Rezaie:

If someone's like, hey, they're just hearing you for the first time, they're interested, they want to contact you, give them a tip, some kind of actionable tip about finding a property, looking at a property, how to assess a property, something that someone can listen to and go oh, I could do that. Well, nowadays because of CHAP-GBT, it's much, much easier, right? So the first thing is number one look at your credit report again. You know you go to Experiancom, look at your credit report for free, make sure everything is reported accurately, there's no derogatories and everything.

Kamyar Rezaie:

Number two you know, go focus down on an area you want to invest in, especially if it's your first or second commercial property, either as investment or owner occupied. Try to be as close to it as possible. You don't want it to be far. Okay, you need to be hands on. And then after that, you know, look at, are you looking to buy a property that is owner-occupied or investment? If it is investment, do you want a small shopping center? Do you want a small industrial? Do you want a multifamily? You know, go read about research about it and see which one. And then, once you zoom in on that, you know you can go on LoopNet for free and search properties available for sale and, you know, locate some. And you can always contact me. I can look at the property and send you a free underwriting report on that property.

Dwan Bent-Twyford:

I was going to ask you. So if someone came to you and they're like, hey, listen, cam, you know I found a property and it's my second one I think it's like a good deal you might help them look at it and say, hey, listen, based on the numbers, this is not a good deal.

Kamyar Rezaie:

Sure.

Dwan Bent-Twyford:

Cause, not that you went alone on it, but would you help a person? Like based on all this these are the reasons this is a financial, not a sound deal Like do you step into that role and help people?

Kamyar Rezaie:

step into that. After I give them a costar underwriting report, I have them review it First. I want to see what their analysis is after reviewing the report and then I can give them my thoughts. Yeah.

Dwan Bent-Twyford:

I always feel like if you're in any area of investing and you have experience, I feel like it's that anybody should go to, especially anybody new, like hey, listen, I know like I get students like, hey, I want to buy this house. I know you want to buy this house, but here is the reality of you buying this house. So if you want to buy it, buy it, but I'm recommending not, right, I feel like we should help you know? No, definitely I helped them, but I want their analysis.

Kamyar Rezaie:

Right, help, you know? No, definitely I helped them, but I want their analysis. Right, I want their analysis. I want to see what their gut feeling is, how they're approaching it with all the information that's being given to them, and then I can say you know, are you parking all your money or are you trying to, you know, grow your money?

Dwan Bent-Twyford:

yeah, that's even good there. Are you parking it or growing it? Yeah, see, I. I really love commercial. And the funny thing is people are like, oh, you should write a program. I'm like, listen, I bought these properties on my own personal use, to keep till the end of time. I honestly don't know if I even know enough to write a program. I'm teaching people about buying commercial because of all that stuff you talk about.

Kamyar Rezaie:

Sure. You know, and it's like you know, for clients or if they ever have questions or anything, I'm always here to help them, you know, guide them, you know, give us much information that they need on it.

Dwan Bent-Twyford:

Okay, all right, let's talk about something else, cause everybody always wants to know about you and what you're doing. What's your favorite band of all time?

Kamyar Rezaie:

Favorite band of all time, uh, green day.

Dwan Bent-Twyford:

Oh man, I love green day. You, you know it's funny. When my kids were in high school they wanted to go see green day and my husband, I bought them tickets and like you know, and we were like we're not gonna go see green day as a bunch of punk whatever, and then later on we actually listened to a couple of the albums. It's's like dang, green Day is so freaking great. I cannot believe we just dropped the kids off and went to go eat because we didn't want to go see Green Day. It's like what were we thinking? But you know, we were a little older. We were like, ah, you know the way they look and they're great, right.

Kamyar Rezaie:

They're great.

Dwan Bent-Twyford:

Their voices. They're there. That their voices. That song Broken Boulevard, broken Dreams. I swear to you I think that's one of the greatest songs ever. It's just I don't know. That song moves my soul. What's your favorite food?

Kamyar Rezaie:

Sushi.

Dwan Bent-Twyford:

Me too. I had sushi for breakfast today. I haven't done that I bought some yesterday, I ate some. Done that, I bought some yesterday, I ate some. Last night I was like, oh, I'm full. I was like you know what. So I got up and I'm going to eat sushi for breakfast. So, oh, so good, what's?

Kamyar Rezaie:

your favorite time of day. What is your?

Dwan Bent-Twyford:

where's your happy place, where you're just like, oh man, this is great.

Kamyar Rezaie:

You typically in the morning, cause I wake up first thing in the morning and go work out and get my endorphins going, so I love the mornings.

Dwan Bent-Twyford:

Yeah, yeah, yeah, yeah, most people do. All right, so how can the people of Dwanterful, the Dwanterful world, how can we help you reach your next big goal?

Kamyar Rezaie:

Basically I'm looking to. My focus is I appreciate everybody to be able to help me. I like to help them buy the first building because I like people to, in 10 years, 15 years from now, you know, call me and say, wow, thank you for you know helping me buy this building. You know business has been good. We're paying off the building. We're leaving a good amount of equity for our kids, our grandkids. I get a lot of those calls nice.

Dwan Bent-Twyford:

I know, that is nice, isn't it? Yeah, I like it when my sister sent me a copy of one of their checks, it's like oh, thank you, that's so great yeah I get a lot of clients be like, look what if I want to pay this off sooner?

Kamyar Rezaie:

you know, and we go when they send the loan docs, majority of them allow for 20 extra 20 of payments a year. So I've, you know, clients that are sometimes paid off in the 12, 15, 15 year range and you know, once they get that you know it's paid off. They call me like you know what? I paid off this building. I'm very thankful.

Dwan Bent-Twyford:

And they're so excited.

Kamyar Rezaie:

Yeah, it's a great feeling.

Dwan Bent-Twyford:

Yeah, it is a great feeling, all right. So all of you out there in the wonderful world, this is the most wonderful real estate podcast ever. Anybody looking for any kind of commercial loans or whatever, you need to go to Cameo, because if you come to me and ask me a bunch like about money and finance, I'm going to be like listen, I just got to send it someplace else. I don't know and I'm always happy to admit when I don't know, because nobody knows everything and it's just not my arena specifically. But I?

Kamyar Rezaie:

I mean, I'm happy to help you look at a building.

Dwan Bent-Twyford:

I'm happy to give you my opinion. What comes down to all the money and the crunching? Yeah, I'm gonna send you to this young man because it's out of my box and you know, the truth is I am enjoying the part of real estate that I'm locked into as far as my mentoring and my training, and I tell people I said I don't really want to go, take the time to learn all of that, when there's people like you that already know it all. So if that's what someone's expertise is, just go there. You don't need to reinvent the wheel. My expertise is wholesaling, rehabbing, short sales it's like you don't need to reinvent the wheel. I'll teach you everything exactly. Having short sales it's like you don't need to reinvent the wheel. I'll teach you everything exactly. No mistakes.

Kamyar Rezaie:

They want to buy property like that, they go to you Right. Niche expertise is the best I believe in.

Dwan Bent-Twyford:

It really is, and I think people still just try to look at all the people, all the shiny objects, all the stuff. That's like, listen, just go to the person, how long have?

Kamyar Rezaie:

you been doing this 21 years Okay 21 years.

Dwan Bent-Twyford:

So go to someone like 21 years, I mean that's good experience, I got 35. Go to someone who's been doing it for a long time. Let them teach you, let them help you cut your learning curve. And I tell people like, stop trying to reinvent the wheel, stop listening to this webinar and this thing and that shiny object. Then try to put it together yourself. Just go to someone that can just help you, right, absolutely.

Dwan Bent-Twyford:

I'm glad we agree on that. Okay, so, everyone, I'm going to ask you a favor. If you had fun today or you learned anything you liked both of us I want you to leave me a five star excuse me, five star review and write something. Nice. Five stars. Write something and subscribe, because I can't reach too many downloads without you. And one last thing for you I always like our guests to give us a word of wisdom, but just one single word.

Kamyar Rezaie:

Trust.

Dwan Bent-Twyford:

Okay now, trust. Okay Now. So, for my wonderful world, what I always ask people to do is write it on a little sticky note, put it on your mirror and every time you're brushing your teeth, whatever you're doing, you just say the word trust, trust, trust, trust, trust. So we have a word of the week, so that is the word of the week this week. Now tell me what does that word mean to you?

Kamyar Rezaie:

People trust me to be able to help them get financing because I deal with their social securities, I deal with their whole life, so it's not easy to obtain that trust.

Dwan Bent-Twyford:

Yeah, that's true, because that's trust that it's hard to gain and it takes a nanosecond to lose it.

Dwan Bent-Twyford:

Correct, okay, I like, correct, okay, I like that. Okay, so trust folks, that's it. So the word, then, is going to be trusting people, learning to work with the right people, helping you in your life, your finances, your things, and trusting that they're going to do a good job and steer you down the right path. Right, correct, okay, I love it. All right, guys. So we will be back next week, same bat time, same bat channel, and remember that the truth is in the red letters. All right, everybody, I'll see you next week.

Kamyar Rezaie:

All right, thank you.

Dwan Bent-Twyford:

Oh, and thank you so much for being on.

Kamyar Rezaie:

Thank you for having me.

Dwan Bent-Twyford:

See you next week, okay.