Own the Outcome with Tyler Deveraux

Navigating Pilot Life & Real Estate Investing with Captain Curt Marker

• Tyler Deveraux • Season 2

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Captain Curt Marker, a third-generation pilot with a captivating story of triumph over financial adversity, joins us to share the insights he's gained from flying to real estate. Transitioning from corporate finance to navigating private jets, Curt offers a glimpse into the world of high-profile clients and the invaluable lessons learned while engaging with them. Hear his unique perspective on balancing professional commitments with family life, and gain a billionaire's productivity tip on managing communication to enhance focus and achieve excellence. Join us for a value-packed conversation that promises to inspire and guide your journey in achieving a balanced and prosperous life.

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Tyler Deveraux:

All right, aloha and welcome to Own the Outcome podcast. My name is Tyler Deverell and today we have Captain Curt Marker. Thank you so much for being here, bro. Yeah, thanks for having me. Yeah, I'm excited, captain Curt. Captain Curt I'm going to call you Kirk because Captain Curt will just be a tongue twister. Thank you, too.

Tyler Deveraux:

uisrt in town here in Maui on vacation, so we co-student coming in office. So thank you for being in office and you're going to learn a ton from his journey. Man. We're getting some nitty gritty, so I want to start out with maybe just basics of your background. Yeah, so I boarded an aviation family.

Tyler Deveraux:

I'm a third generation pilot and I wanted to chase, you know, my dream job. So it took me a long time. Financially, become a pilot is very expensive north of $100,000. And yeah, it took me several years to get through it. I actually I've always been really good with numbers and math. I was an economics major in college, so I pursued accounting and then I was a controller and I was actually a financial advisor, okay, and I just couldn't afford a hundred grand in flying lessons, you know. And so eventually I was just tired of working a corporate job and I decided, all right, I'm going to quit my job now that I've saved enough money and pursue flight school and chase the dreams. And really my dad actually flies here to Hawaii for a living for American Airlines and said, hey, tell me about your job, you don't work in an office. And one day he just said, ok, well, yeah, I fly from LA to Maui. I go surfing, go to the gym, go have beers and dinner with my crew. Next morning wake up, go surfing, have lunch and fly back to LA. And I do it five times a month and I make 300, 400 grand a year. So that's what drew me to flying. Aviation spun anyway, but I wanted like a stable career that was flexible, to allow me to have a week off right now to come to Maui, and yeah. So I went down that route and I ended up loving flying for wealthy people more so than the airline. I've done the airlines, but flying billionaires is kind of my niche and I just want most in private, now, right, the airline. I've done the airlines, but flying billionaires is kind of my niche and, um, I just most in private now right, yeah. So I fly a gold string fours and fives and 550s. I'm probably going to go to g600 school, which are the new airplanes that are 70 million dollars, um, and then that you know that's that's where the elites are and where the money is. Um, you know, if you work for billionaires, they just pay better, yeah, man. So, yeah, it's been a long time coming, but I love it, that's cool.

Tyler Deveraux:

And then you transition to your real estate. Before we go into the real estate side, you know, do you? Uh, obviously you're uh surrounded by, if they're all little private jets, they're fairly successful. Yeah, it's like you. I don't get advice from them. Do you talk to them about things? Do you build relationships with them? Like, how does that work? Yeah, it's great, it's. It's one of those things where you got to read the room. So, as a new pilot, you're like wanted to get advice from this rich guy and and they're all wealthy.

Tyler Deveraux:

Because if flying any private jet, I don't even care if you charter it, you're, you're doing well, you can't fake a private jet. You know they're expensive, um. So, yeah, I, I'm luckily and fortunate enough to fly for clients because I provide a high level of service, so they, when they're in the mood, you know they'll open up or ask questions, and I personally like flying for people that are personable, just like they like me flying because I'm personable to their guests. So, yeah, I've had some conversations in the cockpit where they'll come up maybe away from their family or coworkers and talk and talk to me for an hour and a half on a five-hour flight of just business. And they're my same age.

Tyler Deveraux:

Some of these people are 43. I'm 43, no joke. I fly for a couple 43 year olds and they're multi-billionaires and you literally just get to pick their brain and it's and half the time they're asking me hey, all your kids, what do you do you? Some of these are commercial real estate developers. You know they're building big multifamily like for the government, with all the bonds, and they have people that go to DC and stuff, and I'm like I get to hear some pretty advanced things. So that's awesome. Yeah, a great little job perk, right there it is.

Tyler Deveraux:

You know, and it's right now I'm trying to get better at scheduling and balancing life with family, and so those are the things I'm picking a couple of clients brains on is like hey, you know, like how do you be a dad to four kids and you're a successful billionaire that owns many businesses? And these are people that are like, hey, I've tried to quit before and retire and then I was bored out of my mind. So they're productive people and they're like, hey, I'm always working on balance, but here's some of the things I do, which is a lot of calendar control, and one of the biggest tips I got recently was hey, so I turned my phone off. When I'm in grind mode like off, no one can get me. One of these clients has four phone numbers and I went, oh okay, why is that?

Tyler Deveraux:

A lot of people ask for my phone number, probably like you, and I turn a lot of them down. Sure, because I'm like, hey, I get 100 calls a day on like really important big money needle moving things, and I can't be distracted. So I'm trying to deal with that. But he has four phone numbers on an app called hushed. Okay, he goes so get, get another phone number for, like, your pilot mentorship you're doing right and don't give them your personal number. All you do is click hushed on it and then so it will just allow me to be more focused. Very good, it's something I learned recently. I don't know if you know this.

Tyler Deveraux:

I like exercise and health and fitness. I'm getting more involved in it, trying to get back to my peak, but I want my brain operating at high functioning level, and so these people are very focused. They get all their really important work done before lunch, so they carve out like whatever it is, if it's work. A lot of a workout at 6am, like I do, and they're like from eight to 12, is only important task and I mute my phone and I call someone if I need to, but he goes then everything else and is after lunch. Yes, and so I've felt that, and one of the tips was your, your body releases the most testosterone in the morning to have energy to start your day and naturally, your hormones, your testosterone, slows down after lunch. I just learned that, like six months ago, from a doctor I hired. Yeah, oh, that's awesome. So that advice is huge. Yeah, it's. You know whether you get it from Instagram. You know Instagram, some is true, some is not. You kind of pick where you get your advice, but really I want my advice from a billionaire that I'm flying a gold screen for. Yeah, you know the validation is there. There you go. Yes, okay.

Tyler Deveraux:

So if I were to ask you this question by the way, it's one of the. What you just said is probably the most challenging part about living in Maui, because my offices are East coast, most of the communication that I have is East coast, so I have a small window of time where I have my meetings, and it's in the morning, and my typical schedule before I moved to Maui was exactly what you just said. There I was untouchable in the mornings yeah, like that was my time to create, grow, think, bit like bill, and then it was afternoon meetings. That's how I did it. Now meetings that's how I did it. Now it's I can't do that like, I have to do my meetings in the mornings or else they don't happen right, because at noon it's 6 pm there and everybody's out of the office. So it's one of the more challenging things that I've had to try to navigate. But my question to you would be you are, you have a four-year-old, a four-month-old, yeah, six-month-old before that is there. I switched them there. You, you go Six month old and a four year old.

Tyler Deveraux:

So if I were to ask you that, how do you balance? Cause you man, pilot to billionaires, real estate company, like dude, you do a lot and you direct, so like, how do you balance? What are things that you've been doing? Yeah, it's hard, it's something I'm folk I'm really focused on and paying attention to and, um, so, really, you know, yeah, I'm up at 530.

Tyler Deveraux:

Obviously, when I'm flying and gone from home, I try and do as much work as I can where I don't necessarily have a schedule. Some of my days are 18 hours airlining to a jet, getting the jet ready to fly. A lot of them have Starlink now, which is the fastest Wi-Fi all over the world, but anyway. So, yeah, when we're flying in cruise I'll get worked up. You know text messages that follow up or emails. So my about my schedule at home is more what I'm craving. But yeah, I'm up at five in the gym by six home at 7 30.

Tyler Deveraux:

It's super important for me to spend time with my four-year-old um, so I get them ready for school most of the time when I'm home, which is, you know, half the month. So from 7 45 to 8 45 is like kid only zone. Uh, I will return some texts in the morning for people on a different time zone east coast what not just to get them started on a project or a couple? But yeah, 9 to 3 is my go time. Sometimes I'll do lunch meetings with friends or business partners. I'm kind of eliminating those. They're just a time killer. Yeah, that takes so much time they do, and so I'm a lot more as you call. But, yeah, nine to three, like monday through friday, is go time.

Tyler Deveraux:

Yeah, whether I'm on a podcast calls being productive, um, the biggest thing for me is, yeah, family time's important. So people know I don't answer the phone after 3 30. It would have to be pretty important or an emergency. You would answer my call. Yeah, your call is going to lead to good things, so I will answer the call, like maybe an investor that needs like an opportunity.

Tyler Deveraux:

But what I found was I used to do that a lot and it just like annoyed the family. It disrupted things. My kid would be yelling like Dad, can we play? Because really we for for the family. Yeah, so we were chatting earlier like I always hustled, but I traveled and played a lot more before kids and I think, like my kid will do push-ups with me now in his room. I love the and it's just like he knows. You ask my kid what time does dad go to the gym? It's in the morning before school. Yeah, so I think instilling as a parent, like it's stealing hard work, you know, into your kids is awesome too, and let them see that. Yeah, I'll see you work.

Tyler Deveraux:

You know, one of the things we do every night is we have dinner every night. That's like that is their rule. And at dinner, it's a rule. It's not the rule sounds harsh, but it's like that's what we do. It's a schedule, that's it, yeah. And then at dinner we talked about wins, like what went great for the day, and then learning experiences, like what didn't go so great and how do you change it, or something that you learned. Yeah, I do that too. I love it.

Tyler Deveraux:

How old are your kids? They are eight or no, sorry, yeah, eight and 10. That's great. And it's so cool, bro, because we'll ask questions at the dinner table and it's it's just a habit now that they'll kick back on it. It's just like that's what we do. They're the expected. They said they're ready thinking about it during the day. Probably, that's it. That is very cool. So we, you know, the other day we talked about peace and what does peace mean? And to see their little answers are just, bro, so powerful. Yeah, but I want them to see like I'm failing stuff, all at stuff. All the time I'm struggling, I have struggles, I have trials, but guess what? I still go. Yeah, I figure it out and then I turn that into progress, you know, but that's every night. We're talking about those things. Yeah, it's pretty cool, I mean, I think what I think is really interesting about being a parent is you, your upbringing which I wouldn't have changed right, and you, you, you get to take what you want out of your parents and then certain things that you would change, and really it's only the things you would change for the better, right?

Tyler Deveraux:

Yeah, and I think as entrepreneurs, we provide differently than maybe your upbringing. My upbringing was great. My dad was an airline pilot, but he was gone a lot because he was so young. I had kids much older. So I told my dad, like well, I have less energy because you were 20, but I have a lot more money than you had with three to four kids in your 20s or early 30s. I mean, I have 39 when I had my first kid, so you're just more established.

Tyler Deveraux:

But it's so fun trying to change, like I want to implement when my kids get a little bit older, your dinner thing. I think it's great, it's awesome. So I think you can take from other people, take from you know, your parents and what you wouldn't change, you know, I think it's it's really awesome. But what I love, bro, is your, your. I don't want to do the real estate, the real estate side, but I love that you plan the family time, like the morning time is family time and then evening time is family time. And if you, if you can really book in them that way, like you think your kids don't want to spend every waking moment with you. They just don't like, they just don't. They want to spend quality time when you are with it. Right, it's not quantity, it's quality. So it's like when you're with them, are you really with them or are you on your phone or you know it's like, and I found that was kind of the mistake.

Tyler Deveraux:

You know, when was young, I said, hey, I'm going to grind with my kids from being born till two when I can really make an impact. Babies is hard, they need a mom. And now my kid's four. I'm like, ooh, I need to slow down a bit because I said that I did very well for a couple of years. I mean those 18-hour days when you're starting out and you're trying to find your team. I went through partners that weren't great and I went through. Now it's like man, I got a team, but what I realized overall was it pays a good people. Like it may be expensive and you're like man, I'm going to afford this or whatever they just you know they provide so much value to give me the free time for the family. And you're right, I love that.

Tyler Deveraux:

Where you say you know, after school is like hey, you want to ride your bike, you want to go to the park, whatever it is, until dinner. You got my 100% time. Yeah, you know it's huge. Yeah, and it's like, if you don't do that, what are you working for? You're going to regret it. Like I'm changing other people's lives. That's it, that's exactly it. But it is man, you're proud of what you're putting together and I love building and establishing and so setting the boundaries and the schedule and, once again, learning that from people who are far more successful than you and I. It's like that's what they do. That's why they're successful, though, yeah, like success isn't just money, and you know, monetary, it is well, man, it's being able to have money and time and actually enjoy life. Yeah, and that takes effort. Yeah, and I don't know about you.

Tyler Deveraux:

I'm not like a flashy person. I could care less about cars or, like you know, I have a nice house that we've been remodeling and all these things, but I don't need the other stuff. I used to be like I want my own private jet. Then I looked I know all the numbers. I'm like I don't want to work that extra hard, I want the freedom, right. So the freedom it provides. That's where success comes in.

Tyler Deveraux:

I think, yeah, and I think people, success means different things to different people. For me, it's the freedom to hang with my family, and success would be making other friends and family or even non-known investors that come to me through a relationship. I have a bunch of airline pilots that are investing me that I used to work with. They brought their dads into my deals. My dad's friends are in my deals, but it's because it's like, hey, you're an honest person, I'm not going anywhere. Yeah, and I don't really care about the money. Yeah, you know, if, if, if, I make a couple million, I'm good. I'm good because my family's totally fine, you know. But it's like once you're on to something, it just it's just a cycle and it just starts growing. Right, that's it. So let's talk about that.

Tyler Deveraux:

Well, because you transition from not even transition you still are a pilot, do they do a pilot start you're getting some real estate. Then you transition from single family to commercial. Yeah, what made you make that switch from single family to commercial and how did you do that? I think the biggest thing was like doing residential is great to start out at and you know, to really like test the theory. So I bought my first duplex with like no money. I literally sold my car for cash to bank it, down payment, and they're like you qualify for 390 grand on your 50 000 a year airline salary. I'm like good. So I, I was smart enough to go okay, I'm gonna bring an appraiser friend over to the house. It needed some fixing upping and I'm like okay. So what I'm thinking is I can make a hundred grand in equity like pretty quickly if I do these things.

Tyler Deveraux:

And anyways, long story short, I bought a duplex. It had a renter, uh, and I did exactly that. I executed, yeah, so I remodeled with like fifteen thousand dollars, I borrowed right and uh, I, I did it. I think I gained 150 grand in equity in like five months we're talking like 15 000 injection. Yeah, from 50 grand that's. And uh, the cool part is when I text the appraiser.

Tyler Deveraux:

When I refied it I mean it was my first home so 3.5% down PMI the hard way, right. But it's like no hold on. I got a unit next door that's a 1-1 that will pay 50% of the mortgage. So then, once I refied, I got rid of the PMI, so it lowered my payment, I got better interest rate. And then all of a sudden, now, now I'm like wow, with hard work because I didn't really have any money. So, actually, my friend from Oahu, I flew him over to San Diego and we worked on it together. So I worked 16 to 18 hours a day, taking a vacation from airlines.

Tyler Deveraux:

Anyways, long story short, it was just a grind to do those remodel. When you have no money, it's great that you got friends you can lean on, but so that was my proof of concept. When you have no money, it's great, you got friends you can lean on, but so that was my proof of concept, you know. And then I said, okay, well, I refied, took 50 grand out, I had plenty extra, the payment was low. And then I went and bought, you know, an SGR was my plan as it started growing a couple years later and I did the same exact thing. I did a rinse and repeat, still own that house today that we vacation at and it just, yeah, I kept going.

Tyler Deveraux:

Then I started flipping houses. But it's like man, I was on the phone even with a partner the whole time with contractors, permit delays and it's like expensive to hold them and it's great and it's like we made money. But I was like that's where I came in, right. And once I had kids, I'm like dude, I'm not going to be on the phone a hundred times a day with a contractor, like why do that? Why not buy multifamily, like you do, and have one contractor who's actually a pro, not a guy that takes your tools from the job and disappears? Yeah, he's like I've been through it, you know what I mean. And um, so I've been through all the struggles.

Tyler Deveraux:

And then we bought a bunch of fourplexes and we literally are still recovering from a fourplex. A halfway remodeled, right hvac drywall is about to go in. Homeless. Homeless man jumped the fence, burned down one of the units like a duplex, burned it down. My partner goes oh, great, and I go, oh my gosh, and it was like other things were going wrong with flips and just headaches. So it's just like, holy crap, this sucks. So we're still dealing with that.

Tyler Deveraux:

Our investor got paid in full with the insurance money. I said let's do do this, let's get them out, which we're still recovering, you know. But we had to transition. But anyways, long story short, it was like you know, I'm flying these people where I know people, I'm like man, they're so successful in commercial. And then I started researching.

Tyler Deveraux:

I'm like, oh so the way I like to explain to people is like, hey, so if you buy a house, I think the american dream is to have one or two rental properties that in 30 years it's your retirement income. It was for me right. Read Rich Dad, poor Dad, that's what it says. He's right on that. But then it's like wait, hold on, you have to do it all yourself, like you're getting phone calls on broken toilets, calling a plumber that's really cheap. You know hourly wage if you will. And so if you do commercial and you have a bunch more partners a lot of them are smarter than you because you need the network to sign on a loan. I would rather just get a smaller piece of the pie on a bigger deal where you have professionals with you. Yeah, bro, I believe what you outlined is a success hack that I.

Tyler Deveraux:

It's crazy to me how more people don't do this, which is what you did. Is you looked at kid his current route? That I'm going it doesn't give me? How more people don't do this, which is what you did. Is you looked at kid his current route that I'm going it doesn't give me the life. I don't see the life that I want.

Tyler Deveraux:

On the other end and I was the same with single family bro like I started getting the single family flips. I had a buddy of mine who had lots of like single family rentals, which is what I wanted to build up into. And then I'm like, anytime I was with him he was on the phone dealing with stuff getting sued. I mean, dude, just headaches, man. I was like damn, I don't know, you know.

Tyler Deveraux:

And so then I look at this bigger picture. It's like, okay, what do I really want life to look like? Not, what do I think it can look like? What do I want it to look like? And then I reverse engineer back from there and if you do that, you start to recognize things, and so then what you did is you saw these people that had a different quality of life and you're like, okay, well, how do I do that? Instead of being like man, I wish I could do that. It was. How do I do that? Yeah, I mean, it's a mindset thing, right, and it's, it is huge.

Tyler Deveraux:

I think mindset's everything for us. You can, you can have money in a crappy mindset and you ain't going anywhere. You're probably gonna lose it, and I think for me, I never grew up with money. My parents worked hard, we lived in a nice house, but we were just house poor. I would never change that. We grew up in a great neighborhood. I played all the sports and that was my foundation. It was great and we didn't have rental properties or anything like that.

Tyler Deveraux:

So I'm trying to make that switch. Now my dad's investing with me and like he's doing day trading with for fun and it's great to you know, kind of provide that. But yeah, I'm making the switch to commercial and really networking with commercial people. Like I don't network with house flippers anymore, like I'll have chats. But you're right, I got friends with like tour, uh, rental properties. Like dude, why don't you buy a portfolio? I don't want a portfolio, I don't want that. So what? Even if you had an in-house property manager for 200 homes, there's just the leverage isn't there compared to buying one 200 multifamily unit, totally. Now you got one or two on-site professional managers and you manage them. Really, you know, and it's way the economies of scale are way different, way different. And so your portfolio you have.

Tyler Deveraux:

It sounds like you still have a couple smaller ones, and then you have some short-term rentals. I think as well, yeah, just a couple. Yeah, kind of. You know, short-term rentals are great. I really think you got to be in the luxury stay ones, not necessarily luxury, but the, you know, unique experiences. That's it. That's the sgrs are crushed, so I won't buy anymore. I've got a couple that we just go stay at and I'm good with it and they make. They like make enough money. It's not crushing, but I did so well. I bought them right at like 2020, yeah, and I just did so well. It's like I'll never sell them. Yes, you know, if I wanted to make more money, I would just sell those. Take the equity, buy something else that makes more, and that's something I learned.

Tyler Deveraux:

Here's a here's a good story. I had lunch with a friend makes way more money today. And he goes so how much are you making on this? You know duplex or this and this and I went, oh well, friends in it, I'm making like thousand bucks a month. He goes well, how much equity? I'm like over 300 anyway. Okay, so what's your plan? I'm like, well, in 30 years, mortgage will be paid off. That'll be six grand a month between everything in 20 years. You know. And he goes okay. But could you make more than a thousand a month now if you sold it, took the 300 and bought a commercial property and I went, oh yeah, I'll probably. I tripled it, like I don't even know what the real number is, but I'm like, oh yeah, I'll just crush it, you know. So I went home and went, yeah, what do what do I need $1,000 a month for? It's like nothing. Yes, $300,000 equity is actually legit, yep. So I took that $300,000 and I rolled it into a couple other things that are making just way more money. See, that's huge too.

Tyler Deveraux:

Like actually looking at the assets that you have because we work so hard to obtain these things. But then it's like okay, are we actually utilizing the resources that we have to create more. Yeah, sometimes we just get comfortable or or stuck in something. Yeah, and it's like kind of taking the risk outside your comfort zone. Yeah, that's true too, and that happened to me. I'm like, oh, I'm real good at residential up to four units, like I crush it. I know what I'm doing. How do you make the step? The first thing was like how do you get a commercial loan? It's different. You know, I had credit. This is before you had any commercial property. Yeah, I'm just saying like, overall, I had a bunch of fourplex. I was really good at residential, you know, because the residential loans are different than commercial.

Tyler Deveraux:

And honestly, it kind of took me yeah, it took me selling an asset or realizing like, hey, take the risk, like you're not going to lose, but you're not going to lose, but as long as you believe in yourself. And then reach out to the right people that already know what you're doing and there's like, if you have a good mindset, a good personality and you're not, you know, asking too much of someone, like people are willing to give advice, just like I am. I I do pilot mentorship. I didn't even expect to do it, but my instagram blew up and it's like, how do you not want to help people? And I'm really trying to balance the time.

Tyler Deveraux:

But, like, I just hosted my first pilot event a career development because there are none yeah, and it was so much work, didn't make any money, but it broke even. I was happy with that and because I was thinking I was losing. But everybody to hear this, because people think that we throw these events and it's just an absolute cash. No, it's a lock. Yeah, it's actually really hard to be profitable, but the fulfillment is massive. Yeah, and the soul and the cool part is, like, you know, you have to charge an amount to like preheat it and you don't know before the event how many tickets you're gonna sell it. And mine was like a one month, like real short, let's host one and see if it works. Oh well, and I broke even and that's pretty good. You know very good, I found literally the. I had a couple I met, but they're literally pilot influencers, but I knew they were the right people because they believe in it. Yeah, I don't want to sell something, I want to provide value. Yeah, if you provide value, the other things come from it. Right, and yeah, I probably picked up a couple of new investors from it, but the soul, just it was healed. The soul, just it was healed. And you know, whatever you want to call it, just exciting to help people like I did.

Tyler Deveraux:

Even though I was raised in an aviation family, I had some friends in aviation. It wasn't like things came easy. I didn't just get jobs because of it. So part of my speech is I did two different ones one on like my career background and why I'm a trustworthy person to listen from and I've done everything in aviation really between the airlines and private and everything um it's.

Tyler Deveraux:

The second part was like networking is everything. Doesn't matter what industry you are, but the aviation industry is small. So networking linkedin and like I kind of told some of them hey, get out of your shell. If you're shy, like I was as a younger person, you need to like get out there and just start saying hi. So I made the kind of tell her you should be networking at this event, like, just like your events. Hey, you guys got to meet other people. Some of them will be your partner one day. Yeah, you know, and what I said is I go, even if you don't like someone, at least in the aviation space, even if you don't like someone, man, they need to do it on the hiring board at the airline that you want to work at. So, like, just learn how to be personable and get out of your shell so good, and so you know, it's fun, even teaching mindset in pilot stuff.

Tyler Deveraux:

All the mindsets that I learned is for my real estate, yeah, but it's like, oh wait, this carries on to life. Yeah, that's hard, you know. It's actually one of the questions I wanted to ask you is what is a, you know, an aviation life lesson? Something like that is in. You know that you learn in the aviation space that carries over is like a life lesson. Right, because I actually look at my end, sure, but yeah, I think it might say it's like damn, do you have to have that within the aviation space? And then I'm sure that carries down into your investment stuff like those, those feels or metaspheres.

Tyler Deveraux:

To continue, you know what I think it is is like rejection. So so I say rejection because it's hard when somebody tells you no and when you're starting out, you're asking for a job or like you go to an interview, an airline interview, some of those are one to two days You're flying a simulator, they're technical, they're asking you like engineering question and I prepped for two weeks for one interview on my first one. Right, and I got told no and I go. I knew I crushed the interview. How did I get told no?

Tyler Deveraux:

And so dealing with rejection and then going on to the next interview, how you improve. Just like a real estate deal, you go, do a flip. Let's just say it's a flip. You're like man. I did some of these things great and some of these sucked. When the general contractor stole all our tools we shouldn't have paid him up front as much.

Tyler Deveraux:

You hear these stories every day. They're coming down to mindset. So are you going to get rejected from a job and then go apply to more of them and are you going to learn from it on the next deal, it's like even the deals I do now they're these big $10 million commercial deals. That's kind of our network and where we like is like okay. How are we going to prove the next one?

Tyler Deveraux:

How are we going to improve investor communications, which is my expertise because I'm a people person, and I'll tell you on a deal we're developing now, a lot of feedback I get is like man, I love the communication style. They're like we used to invest with other people. They didn't communicate well, so I think communicating is every. So let's talk about how do you communicate to them. What does that look like for you, like? And are they saying the amount of communication? Is it that your personality shines through on it? Is it all you but you decent? It's a great question.

Tyler Deveraux:

So I I believe in, uh, clarity and honest, whether it's good or bad. So that's why I think too many people that I see out there. So I look at pitch decks of other people you do right. Just I want to see what they're doing. And what am I doing differently? And I am a very conservative underwriter. I build in extra months for budget, for development or budget or anything. So that way, at the end of the day, every investor is like man. The numbers and the timeline he put out they hit him. So whatever you got to do to pad it, but yeah, like. So I think it's just.

Tyler Deveraux:

I reach out to investors once a month on a newsletter on the project specifically, right? So if, whichever project they're in, they get a monthly email and if there's no update, I kind of even let them know. Hey, there's been no real advances, but here's a market update which is pretty nice and that's a great takeaway. Yeah, my last one was an update I sent just a couple weeks ago was hey, the Fed meeting in December went well again. Basis points got lowered. We don't know what it's going to do for this loan that's coming up because it takes a couple months to trickle down, but these are good trends. So when we go to sell, the building cap rates are already looking better. So if I don't have an update on permits or anything like that, I just I'm honest about it. Um, I also the last update.

Tyler Deveraux:

I chose to go with black roll-up doors for industrial because I want my building to stand out and where we built it's a lot of tan buildings to deal with like dirt blowing around, and it's more expensive to have white and black buildings because you have to power wash them. Well, I said no, I want a product stands out, it's a brand new in a very wealthy area. I want higher end clients renting leasing from us, so I chose Black Doors. It's only $12,000 on a $4 million bill and I went $12,000, yeah, that's going to return on investment for sure, because when we send it out. We send out like a probable sale point, the market and then the high market. If everything goes well, we should be able to get this amount. But I want the investors to see that, but I underwrite on the lowest. This is kind of like a worst case. I love that too. I'm sorry, totally. Yeah, you're good a lot too.

Tyler Deveraux:

So I think communicating to investors like hey, we've had some permit delays because of the holidays, even though I kind of thought that would be the case, uh, you know, I just say, hey, so we're not, we're not delayed, we're on time. But I was really hoping to be ahead of this game, you know. And so you just communicate that like, hey, we're still on time to break ground in March on our next project. I was hoping to break ground in February, but other than that, everything's looking great. And I think just, I think you could over communicate if you do too much, but I think you can under communicate. For an example, my CFO's great partner, you know, great CFO he's like, hey, let's just send one out every quarter. And I go, no, no, no, I want to touch, I want to touch the investors Right Once a month. And our SEC attorney is like, yeah, curtis is right on that. I think communication is great, uh, and it was like he's like, oh, okay, but it's cool to have other, I'm just kind of making my own go, you know. So it's like what do I want and what do I invest in and what do I? I want to be? I want to know once a month where my money is very good. You know, the big hotel we have with blake daily in, uh, smoky mountains, great hotel. Our investors we do once a month update, you know, and blake will send it over. Hey, what do you think? I go, yeah, this is great, you know, and I can.

Tyler Deveraux:

We've had some, you know, setbacks there on a loan. We have an S, a USDA loan. It took six months. They told us three months. So that cost us cause we were on a bridge loan at 14% cost was like 125 grand in interest fees. You have to tell the investors. And so the good thing is Blake words it so well and I commend him on his leadership and he's younger. He's much younger than me, but the guy is sharp and that's why I put a lot of money into that deal and friends and family. But you know he said, hey, here's, here's the downfall, here's the setback. So we're a little bit behind in construction, we're a little bit behind here. But he goes, our average daily rate is even higher than underwritten on the remodeled rooms. So we will operate and we're going to catch up this year, a way to recoup. And investors text me like man. It sounds like we didn't hit the numbers this year and I go, nope, but trust me, it's a long-term hold. It's a long-term hold, yeah, and we're doing a $3.5 million renovation. It takes about nine months. So I just say hey, just bear with us. That's why the communication is so key.

Tyler Deveraux:

I love what you said Like. A big takeaway is because sometimes you just don't like there's not a big every month, there's not like a big change every month. But what I love that you did is you still get in front of them. This is literally a mistake that I've made. I'll bold point it. But it's like you get in front of them like, hey, there's not a huge change, but here's some stuff in the market or here's some stuff with rates, or here's some stuff. You're in front of them. You know they want to know that you're still there. It's huge.

Tyler Deveraux:

I had a big amount of turnover for some reasons, the first this last year. So I lost a bunch of people on my uh, my IR team and so I missed a quarterly update at this point. You know it's a, it's a fun. We, uh, you know we're having monthly webinars with updates and then I switched to quarterly because I lost, you know, a bunch of my IR team and then I missed a quarterly update because I'm like trying to get things together and I didn't think that it would be a big deal. It just didn't, because I'm trying to navigate all these other things. It was a big deal. It was a big learning lesson for me of like, okay, wait, if you don't communicate, people just get nervous, they just don't know. And so it's like, man, you've got to be in front of them all the time. You just let them know, especially in the beginning.

Tyler Deveraux:

Yeah, and I think I realize like people work hard for their money and I don't care if someone just meets the standard at 200 grand a year and as far as an intercredit investor, that's mostly what we deal with now. But if they're making 200 grand a year and they throw like a portion of their 401k and it's self-directed or any of it, whether it's 50 or a hundred, you don't know how much money that is for someone to risk on you. Yes, they're investing in the investment or the asset. They're really investing with you. Yes, period, because they have to believe in you as an operator.

Tyler Deveraux:

So when I raised money for the Tremont Hotel that I'm a big partner on with Blake, literally most of the question was, okay, curtis, I trust you, but you don't own a hotel? Yeah, no problem. Let me explain commercial real estate and what I've learned about a hotel that I researched for months before putting this out to people and I had like five Zoom calls with Blake. I wanted to understand him. I invited him to a suite with one of my big investors in SoFi. I go, you should probably drive the three hours from Palm Springs and be at this meeting or this country event so that my big investors that are good friends of mine can meet you for future deals. And he did. And it's like him and his wife came. They're pregnant, my girlfriend was pregnant and then you know, it's just one of those things where it's like, yeah, blake's a great guy. I met him in person. It's former Air Force. Those are the things that you really want to do is just, yeah, to go back to it, it's like they invest in you as people and if you have a partner, a co-GP or any of my partners in my deal, their bios are all on there. I'm not partnering with anybody. That's half-assed, I don't have him.

Tyler Deveraux:

My CFO has been an outsourced CFO for 20 years. His whole business is literally CFO for, like b8 company, that fractional cfo yep, that's what he is and he's great. And it's funny because I don't know about you, my strengths are people. I like putting the dlc on the glue. You know, I'm the face great. Well, my director of development's like I don't like talking to people, yeah, but he has like 25 years of development experience and he's built everything. You know everything and I go great because I like I understand it all, but he knows like the codes and all I don't. I don't want to know that stuff. Yeah, I lean on him to be the expert, yep, you know, and my investors and he'll include some things.

Tyler Deveraux:

So we do a, a financial update, a timeline update, and then like a building update from the developer, like, yeah, every month you know on each deal, yeah, and I think, I think it's it's it's pretty crucial that I have that, bro, it's so good man, I'll tell you what happened was my partner my, you know. So definitely a GPL deal, but another partner that we had different roles within the business. He's really the one who's underwriting, buying and, you know, then helping with the operations of that, of that side, and I was very heavy I mean, I'm still over on this side, but I'm very heavy on the education side and we just kind of ran in our lanes. What he did is he fired, got rid of our operator and then he left. Ooh, so we got rid of the operator on the investment side and then he left. And so that is a challenge, yeah, that challenge in itself. Now, challenge, yeah, that challenge in itself. Now I'm back in the business building things back up and, you know, just making sure that we're good to go.

Tyler Deveraux:

That's when I missed a quarterly update. But a reason that was such a big deal is because they were already nervous about that anyway, because it was like disruption, yeah, it's a big update that you got to provide anyway. 100, yeah, yeah, that's it. It's like sometimes they're hard to answer what you know what the other thing is. Sometimes you don't have an answer right away, no, and you're at a timeline, go crap, I gotta get an update out and you don't.

Tyler Deveraux:

I don't update on anything, I don't know. Yeah, I just say we don't know yet. Yep, you know what I mean. I mean it's it is, I'm gonna get it out on time. Yeah, 100, yeah, it's something like you know mine, mine don't always don't go out on time. Or I'm like I would like to do it on the 15th of the month and I'm like sometimes, when I'm financial, yep, I'm like and I'm not waiting till the end of the month, I'm like, whenever we have enough data and some changes, that's what we're gonna do. Yes, like just, I don't care if it's the 17th of january. Yeah, it's like.

Tyler Deveraux:

But that is also like a huge takeaway for everyone. Yeah, literally that like you might not have everything, but do you have enough to give an update and then let them know that you're giving an update and if it's going to be a little bit of delay, just give up. Like, yeah, a little heads up and you're gold. That's also a learning lesson. Me gross. Say loud, that is gold, do you do?

Tyler Deveraux:

I got a question for you do you do any kind of investor meetups or holiday party or anything like that. Uh, I don't, but I believe that it's something that we miss. So we have our education business. That then definitely funnels into our investment business, and so there is some of that crossover right, like Pete Partnerships, our big networking event. We invite our investors to that event. So there is that, like you know, yeah, but there's also so many people there, and so I think that one of the separators um will be experiences, yeah, that, and community, yeah, and that's what I'm focused on, because that's just who I am.

Tyler Deveraux:

So I'd rather have a smaller firm, kind of why I went off on my own and I said, uh, I'd rather have a smaller firm that actually builds relationships. I'm not chasing the dollar. Of course I want to grow. I have. My goal is 200 investors. We have like 40 right now, but it's like just slow. We're getting the right ones. We're not chasing deals. You know we're doing two to three deals a year because they are, you know, bigger deals a day. You're rising yesterday.

Tyler Deveraux:

Well, yeah, so we do flex space, um, I reverse engineered and I own mobile home parks. Um, a couple different things, but literally it's all for sale because I'm tired of getting all the phone calls. Mobile home park. Maybe it's great for, like somebody like brandon turner that has a huge team and they're buying big parks, it's great. But for me it's like, no, what do I want? I? I want to lease buildings that I can raise about increased value on Right Without changing someone's life. As far as, like mobile home park, you go from 350 to 375 and rent. You're getting 50 emails like, hey, this sucks, I've been paying this bill for years and I'm like man the regular rents 500 next door. Yeah, so like I'm not I'm creeping you up, but like, and for us as investors, like 25 bucks on 27 units is like hardly any income Totally. But so so yeah, we go.

Tyler Deveraux:

We moved into FlexSpace, which is industrial warehouse. The reason I love it is triple net. You know I like multifamily. It's never going to go away. It's a need. There's a lot of competition, as you know, sure, and it's something where we knew we could go into commercial real estate with some advisors, without partners necessarily. So we had enough experience. Developing steel buildings is pretty easy as long as you have the right GC. So we hired a GC. He's built 400 million just in Houston. That's where all of our projects currently are, in the woodlands, great spot for multifamily, lots of money going in, so that's what we're building.

Tyler Deveraux:

So we build warehouses and they're all pretty much in between like 1,700 and 2,000 square feet. But the great thing is the warehouses are larger and we just don't put up the wall so they're all set up. So if someone comes in and goes, hey, I need 4,000 square feet, you go great, we're going to just throw the wall up in two days and sign the lease. And so their businesses are leasing from us CrossFit Gems, plumbers, hvac, podcast Studios, window companies, anyone that needs one or two offices with a warehouse. So their small bay warehouse is called flex space because someone could come to us and go, hey, I actually want to rent this 10,000 square feet, no problem. Like you have five entrances here, cause that's how we build them and do whatever you want with it. You want four offices? Cool, we're going to build you the four before you lease it for tenant improvements. And then there you have it.

Tyler Deveraux:

So we love because of triple net. Um, it's seven percent expenses, so there's just not a lot of management. It's crazy. Like we can, we're going to manage in-house seven percent expense, seven percent. So mobile home parks are like 35 to 40, multifamily similar, yeah. Hotel 50 to 55, yeah. So I mean blake's got 12, 12 people on staff supporting. I don't want them. I don't want that many employees. So basically I bring in partners that don't own a part of my business. But as we go, syndicate a new deal. We all own a part of that and everyone is required to put in money. There's no one in my deals in the GP team that don't put in money. I learned my lesson. Yep, tell me about that lesson. Yeah, I mean, I'm selling a mobile home park right now.

Tyler Deveraux:

The wholesaler, you know, was wanting a loan and I said I don't do loans anymore. I've done some that didn't go well. I lost a lot of money, made some money, but so I put up the money. He was going to manage it and I'm managing it. I kind of forced him into managing 20% doing some stuff, but here I am doing all the management. I put in all the money. He had $0 in, so he's not as driven Me. I'm like I want my money back bro and it's like something I'm exiting now.

Tyler Deveraux:

You know, partner to the left, we have a fund, we have two funds, well, one of the funds. I mean two funds. Well, one of the funds, um, I mean, I'm one of the biggest investors in every deal that we do and say, well, fun, well, what I didn't know is that he didn't invest, but he took his money out of fun and so he didn't actually even invest it. He was, he was going to, but he never did. Ah, but I didn't know that, yeah, after he left. And so it's like man, how does he just roll? It's because he doesn't have his money yet. But I do, yeah, and I'm with the investors, I'm with the IRS ones in there, so it's like that's, by the way, that is what, what's, it's huge. It's why it's a learning lesson of like, if you don't, you're not dude, I've just what's the biggest investor in any of the deals? It's like trust me, yeah, no, I care, yeah, and that's it. Yeah. And I agree with you and like part of me, as I I lost a lot of money last year doing some hard money loans, risky ones.

Tyler Deveraux:

I made a lot of money the year before, right, I was tired of flipping, so I had all this cash. I'm like, oh, this, I understand a lot of it. Well, I was doing some second notes right way, way more risky. Yeah, and on multifamily complexes, like 84 units, I underwrote. I'm like, oh, it's worth 6 million, I'm only going to loan some repair money. Man, let me tell you, if they don't pay that first note, they're taking all that money out of the second Yep.

Tyler Deveraux:

And I literally called my ambassador and go here's the deal. And they're friends. It wasn't my dad, you know. And I go, hey, so yeah, I just lost all that money. And uh, here's what I'm gonna do. I'm gonna rank you guys a check, give me a little bit of time. And uh, it'll never. This is a one-time check, no interest. Here's your money back. I will take the loss because it was my poor decision. And then I you know. But, but I don't care how much money you have, you lose almost a million dollars of yours. I'm like that, that was years of work. But guess what? Well, my dad number one is like, well, that sucks. But I'm like, damn, I'm writing you a check like I'll take the loss. And, uh, my family will, it'll be affected, but it's me. And the great thing is my cfo goes. Here's the deal.

Tyler Deveraux:

So, by the way, one of my investors I wrote that check for out of my bank account for 150 grand. He's investing, investing in my deals. He goes, no, no, no, I invested. You like thank you. I'm like sorry, we didn't make interest, but I'm going to lose a lot. Yeah, you know.

Tyler Deveraux:

And uh, you can't obviously do that in a fund or syndication. That was like hey, I'm never doing a loan again. Yeah, money. Like sorry, I don't do loans. Yeah, you don't only get you one of those things and lesson learned, and we all lose in real estate at some point. Yeah, but it's how you come back, so it's no problem, I don't do any more loans and everything now is sec stuff. So there's no like we have to operate well.

Tyler Deveraux:

But same thing, I put money in every deal and to circle back like my cipos doing really well with crypto, and he's got a bunch of extra cash and I'm like, dude, I'm a little bit more tight right now. Let me sell some assets, I'm gonna sell some extra cars. I don't need just to have more money to put in my own deals, you know, and even if he he's like, well, I don't know, I might put in way more than next year, that's fine, but we have a minimum of 50 grand for any gp. Very good, like that's it. If you come and raise capital for us and you help us do some marketing, you know to to, you know to be in line with the SEC rules, uh, you still have that money. Yes, like it doesn't matter, it's a minimum 50. So if I had a couple extra hundred it, that doesn't matter, it just benefits him, right? Um, and it's really cool to have people aligned.

Tyler Deveraux:

And I don't know about you. Uh, it's like like it takes a little while to find someone. My partner is like, hey, I'll give you my shirt off, my back for you and your family. I kind of want the same. Yep, and that's really what it came down to With relationships and any partnership, same with you know, your partner. It's like she wants the same thing. Yeah, it's like relationships. This is where people you go. Relationships, partnerships, it's where you go to give. But problem is so many people go to get. Yeah, if you go to get, yeah, both of you will be.

Tyler Deveraux:

I think that comes down to a mindset thing. And you're right on the relationship thing. It's like we we've all been through relationships and failures and this and that I think it's constant learning anyway. Oh, yeah, like there's things I do good at. Someone asked us at dinner, like a night or two, of my girlfriend we're here with her family. It's constant learning anyway. Oh yeah, like there's things I do good at. Someone asked us at dinner, like a night or two of my girlfriend we're here with her family, it's real fun. And and the guy, this guy goes so does your, your husband, even his boyfriend like do what, do whatever you say? And she goes oh no, no, you know, I'm a provider and like so we're.

Tyler Deveraux:

We have two different backgrounds. Even though, like her parents, great longtime jobs put her through college, 15 year corporate career and she just got laid off, she just like devastated, and I don't blame her 15 years of the company and they're going public. So they start cutting the good people and she's like oh my God, and I go. This is why we're different. She didn't understand real estate investing and then when she starts seeing the assets and people calling and going, wow, we love curtis, I'm changing people's lives, even a little bit of money at a time, um, but it's cool. Yeah, you, really it's hard to get your spouse or significant other on board if they don't have the same mindset. Yeah, and I think you can't just lay down the law. But part part of me was like here's the deal. We're not married. Yes, we have two kids. My money is my money, but the family will always be supported. The mortgage is always paid, but this extra little money that's going into real estate and you'll see it.

Tyler Deveraux:

Funny story is like so when we bought our house, she was pregnant and it wasn't planned. So she was pregnant and I said, all right, well, I'm living in a little beach house like travels the world, let me, it's time to get a family house. I'm gonna raise my kid in a family house. And I she goes, okay, well, let's live in this apartment for a year. And I'm like I'm not an apartment guy, you know I'm not.

Tyler Deveraux:

Anyways, two months in, I got a phone call because I reached out and said, hey, I'm looking for this kind of property. I could build ADU and bring the family a family compound. My buddy goes, hey, there's this house in Fire Mountain, oceanside, where we live. And I'm like, oh my gosh, this is great. So, anyways, he found me a house that was old, on a half acre, and then the next, the next door was their lot, but you had to buy with it. That was a half acre of dirt, okay. So I went oh my god, I could build like four houses, edu.

Tyler Deveraux:

But grandma here, my sister, my brother, like, uh, yeah, that's my goal, it's like a family compound, yeah. And so I go, here's the deal we're, I'm gonna go look at this house and I might buy it. Yeah, you want to come with me? And she went. I told you we're not moving, you know this. And that we went and saw and she goes oh's a view and a pool, we're by the beach and this. So we end up buying it. All our neighbors think we're crazy. We paid like 1.1. I put a bunch of money into it remodeling. It's worth like 2.3 now, yeah. And then now we're doing an ADU for her mom to move in.

Tyler Deveraux:

And it's like, look, sometimes you got to just trust them. Sometimes you, you just have to trust your spouse that they had good intentions. Yeah, but you know you had definiteness in it, like you were. If you weren't confident in it either which you wouldn't be either yeah, I know, and I, there would have been a single dad living in that house, because I knew the money was there, whether I lived there forever or not. Like I'm like, no, this is a move, this is a great move. You know, you know, and uh, so she's finally coming around. So, instead of getting another job, she's working for us. Now he's like, why don't we work for us?

Tyler Deveraux:

You being a, she was a client, like an account manager for a large shipping third-party logistics, so any business that shipped anything, that's what she did. She had 250 accounts. They go, you're the perfect investor relationship girl. Yes, like I'm good at this, I'll write the updates. Sure, can you like collect paperwork? And when we say highlights, yeah, exactly because I go, I'm I don't like that stuff. Sure, like, let me, I'm gonna. Once an investor commits, how about you take over? Yes, there's the documents. Oh, yes, you know, and he goes, so and she's good at it and I trust her. Yeah, and I'm like that is any business, any business has. Like, if you look at the functions of a business, you have marketing, sells, and then, once somebody sells, then it goes to fulfillment and then you have finance as well. Right, but yeah, that Passover is a big deal. And when you actually build that into your investor relationship side, your investors are so pumped man because they're better taking care of both sides. Exactly, and I don't have the time for all of it. Yeah, I'm trying to do investor outreach and return calls. That's the fun stuff for me.

Tyler Deveraux:

No-transcript. Like, I'm going to conferences. I do a couple of years kind of pick and choose. Yep, have you been to the Best Ever Real Estate Conference? Yeah, so I'm going to the one in March. Yeah, you need to come to ours, bro. Yeah, okay, I'm good on you Best ever's great. And I know, like that book you best ever. But I haven't been, so I figure I'll go. It's great, you know. Yeah, no, I'm not knocking. Yeah, joe's a great man. Yeah, joe's a smart editor. Yeah, I like it. Book on commercial real estate like the best ad our business a couple of years since I read it. That's right, it's so. Yeah, he puts I know the amount of work he put in there to to simplifying, but it's a beautiful book. Man, I still turn to that all the time for like ideas. It's great. It's a great book.

Tyler Deveraux:

Yeah, the smart people like I try to follow, even on instagram or youtube or whatever it is. I love connecting with people that actually care. Yeah, there's so many people that don't out there and I lost like still eat. Nope, that guy, nope, not that I've heard rumor. You know, it's like you.

Tyler Deveraux:

Just, you can kind of, I can kind of tell on youtuber videos. I don't know why. I could just tell, even with you. It's like no, I tell tyler's, uh, I could tell you know we got to connect and uh, yeah, it's pretty cool to finally connect. Yeah, I agree, bro. Yeah, because you know you've known I've mentioned this, but, like you're richer friends, I saw you on riches, uh, you know episode, or a podcast, yeah, episode, I've been on his and so I was pumped to connect. Yeah, it's super cool. So, so I want to be respectful of your time too, because I know you're here on vacation. I don't want your girlfriend to get pissed. Yeah, there you go. You know any last advice? Like you've made some pretty big transitions.

Tyler Deveraux:

I think this is the last question I would like to ask. Sure, no, mind, first off, already I should have said this in the very beginning man, go connect. You better share this episode as well, because I know you've pulled some value from this. But go connect, you're starting to do so. If you're a pilot, definitely connect, doing more of those as well, yeah, but my question is more along the lines of what do you see coming out of the pipeline in 2025?

Tyler Deveraux:

As far as the market, yeah, I think with Trump coming back into office, whether you like him or not, there's just an opportunity for money to be made, whether A you're a business owner, you're an entrepreneur trying to launch something as well as commercial real estate, I believe, is going to get just booming hot or if you're in residential and you're a home developer, I think Trump announced yesterday that they're going to try and remove a lot of the red tape from development. So, whether you're developing homes, multifamily, industrial for me, which actually is kind of the easier stuff because people don't live in it we're like running four to six months for permits. I'm hoping that speeds up to two months, you know, but there is going to be so much opportunity. I believe interest rates are going to be coming down this year. They're already on that path. Do I think we'll be in the 3%? Maybe next year? I don't think this year they're going to be too quick. Man, if we get into the threes, people need to be ready and what I mean by ready is start getting ready now.

Tyler Deveraux:

100 if you have cash, like sell vehicles. You know I'm I have like too many vehicles that somehow I had a couple good years. I don't need it, so I'm like going back to one car like. So any access like cuts and spending increase your income, I think is always a big thing, but I think the real estate market is going to be hot. I don't do stocks, I don't do crypto anymore. I've done it all. I just don't like it. I don't gamble, I just want security. So if anybody's thinking about getting into commercial real estate, like now's the time, reach out to some mentors or either one of us. We're happy to talk. But I think the market's going to get good. I mean, you're going to be looking at you own, however, many multifamily properties. Probably going to be time to get refinancing here. The next year or two. I think you're going to see lots of refinancing.

Tyler Deveraux:

Mortgages are going to go well. I think I read a stat like 70 percent of mortgage originators that do loans like did not work in 24 because the rates were high and they like retired, wow, like left the industry. It was a crazy. I can't remember where I saw it, but it's like I saw that one. Holy crap, yeah, you know. And so I think if you write mortgages like, now's the time to create a brand. Get on some podcasts like educate people. So I think the market's just going to go really well for anybody in business. Yeah, you, it's just going to go really well for anybody in business, yeah, you know. Or real estate me too, man, you know.

Tyler Deveraux:

I look at the just natural cycles and you know a typical cycle three to five years or so and listen from 2022, 2023, 2024 those were some pretty damn challenging years and I just see, like, if we're talking about energy dude, I just see the energy already being different and I feel like we have weathered a pretty decent storm where I agree that I, you know interest rates, I don't see them. I definitely see them dropping, but you know it's not, it's too dangerous to do it or not. You know why it was too dangerous to raise them as high as they raised them, as quickly as they raised them. It's ridiculous. It kind of just shut everything, everything down, like there wasn't really a refi, you couldn't really, and you couldn't make the numbers work as a developer, like we were just kind of hanging on like really, yeah, and so you have to have those to reset.

Tyler Deveraux:

Well, I used it to literally research flex space. I went to a conference to start reading books. I'm like, okay, more commercial buildings. And I started networking and I'm like, man, flex space for me is where I wanted to die and I think I have four years to just kill it as big as I can and then deal with the aftermath, depending on the next. You know, I agree with that too. This next four years pose one of the best wealth building opportunities that we'll see in our lifetime.

Tyler Deveraux:

Yeah, and if people are on the sidelines and don't take advantage of it, they will regret it forever. That's my yeah, and you know, what I try and teach now and portray is like delayed gratification yeah, most people just want it and they want it now. Yeah, like I want to want it now, but I understand like that's not the best way to get it, so people can delay buying the porsche, delay upgrading to the bigger house. Like, hold off, invest some money and buy that bigger house in three to four years after you get some returns coming in. Yes, and stability, instability yeah, so delayed gratification that's what people need. Yeah, you know, I agree.

Tyler Deveraux:

Thank you so much, man. I love chatting with you. I don't even know, I love chatting, but I know it's been a while love me with chatting, but I know it's been a while. I could chat with you forever. So thank you for taking the time once again on vacation to be your spit and wisdom. All that investor relation knowledge y'all take that. I literally in public even go relicit and take no, for sure I love doing that. Go take me too. Go take it, implement it, go follow, share all those kind of things I live always blow off Peace.