Passive Income Through Multifamily Real Estate

Episode #57: Delegate and Scale your Business with Dan Handford

September 23, 2019 Dan Handford Episode 57
Passive Income Through Multifamily Real Estate
Episode #57: Delegate and Scale your Business with Dan Handford
Show Notes Transcript

Dan Handford is a managing partner with PassiveInvesting.com. He and his wife, Dennae, along with their 4 children (3 girls and a boy), reside and work in Columbia, SC.

Dan has an extensive successful background in starting multiple seven-figure businesses from scratch including a large group of non-surgical orthopedic and sports medicine clinics located in South Carolina. His family of companies have annual budgets in excess of $10MM.

He is the founder of the Multifamily Investor Nation where he educates a nationwide group (9,000+ members) of multifamily investors on how to properly invest in multifamily assets.

He is the co-host, along with his wife, Dennae, of the Tough Decisions for Entrepreneurs podcast which can be found on iTunes and Google Podcasts.

Connect with Dan
https://www.passiveinvesting.com
https://www.multifamilyinvestornation.com
Facebook – Multifamily Investor Nation

For today’s show notes, including audio and links to all the resources mentioned, visit www.aptcapitalgroup.com/podcasts.

To get access to our free Passive Investors Guide and monthly newsletters sign up at www.aptcapitalgroup.com.

To find out more about partnering or investing in a multifamily deal email info@aptcapitalgroup.com.

Local to Southern California? Attend our monthly meetup focused on Multifamily Apartment investing. View our schedule at www.aptcapitalgroup.com/events.

Join our Facebook Group - Passive Income through Multifamily Real Estate

Have a question you would like answered on the show? Email us at info@aptcapitalgroup.com.

Today's Show Sponsor
Bullpen

spk_0:   0:03
welcome to the passive income through multi family real estate podcast brought to you by limitless estates where Kyle and Lolita talk to top experts and seasoned passive investors in the business tell provide clarity and key insights to keep you safe on your journey to financial freedom. Our goal is to help you get educated on how to create passive income for you and your family by using real estate as your vehicle. Now here are your hosts, Kyle and Lolita.

spk_1:   0:40
Everyone, thanks for tuning into another episode of the passive income through multi family real estate podcast I'm Riko slowly but also joined by Kyle on today's show, We have Dan at Hanford joining us, Dan. Thanks for being here. How are you

spk_2:   0:55
later? Thank you for having me. You as well, Kyle.

spk_1:   0:58
Awesome. Thanks for being here. A little background on Dan before you dive into the interview. Dan is a managing partner with passive investing dot com. Dan has an extensive, successful background in starting multiple seven figure businesses from scratch. His family of companies have annual budgets in excess of $10 million. He is the founder of the multi family investor nation, where he educates a nationwide group of multi family investors on how to properly invest in multi family assets along with his wife, Dunay. They're also the hosts of the tough decisions for Entrepreneurs podcast, which can be found on iTunes and Google podcast. So super impressive resume. Can't wait to hear more about it. So, Dan, why don't you tell the listeners a little bit more about yourself and what you currently d'oh.

spk_2:   1:44
Well, you pretty much nailed element down. That's great. Ah, you know, just to kind of, you know, recap a few things I have ah, couple of online companies that I've started ran. That's what part of those family of companies and I also have a group of non surgical orthopedic medical clinics here in South Carolina. I'm actually located in Columbia, South Carolina. Here.

spk_0:   2:04
Perfect. Thanks. Right. So with all those seven figure businesses, why did you decide to switch over to multi family? I mean, it seems like you were very successful in all those businesses, so kind of curious to start there.

spk_2:   2:15
Sure. So I was actually at an event about a year and 1/2 ago and heard a speaker talking about how to become the general in your business, and at the time I was thinking, Well, yeah, I am the general. I own the place, I'm running this show and I'm doing the day they calls and you know what I mean? He basically had said, Is Is that I? I wasn't the general. I was still in the weeds and the general doesn't actually go in and do the frontline duties and go out and put out fires. And if you look at something like Warren Buffett, he's one that's really playing that general role, where he's checking in with the CEOs and seeing how they're doing and making sure that they're making the right calls and having corporate meetings and various things like that. And so at the time, I I was in there doing those data duties, primarily in the medical practices and I. A couple days later, I decided that after I heard that speaker that I want to step out from doing the day to day operations and really focus on something different. At the time, I didn't really know what that was going to be, but I promoted my CEO at the time to CEO and he's been managing the clinics, and we have about 50 employees in that group of clinics. And I have a couple other businesses that are running on their own because I have people keep people in positions like a CEO that can run those businesses for me. And I decided that I wanted to do something that would help reduce my taxable liability because of the money that I was making off of these businesses. I was paying large checks to the government, and I was tired of doing that. Trying to figure out a way to try to reduce that taxable liability is really what kind of drove me into the multi family real estate business.

spk_0:   3:51
Selfishly, I'm gonna ask, What was that process like to basically be the general and then give up the reins as the general and kind of handed off to someone else because depending on your personality, you know could be very easy or it could be very

spk_2:   4:03
difficult. I would say it was two fold because it was hard in some respects and actually fairly easy in some respects, a cz well, and so I'm the type of person that is what I would say a relentless implementer. And so the moment I decide I want to do something, I usually just go ahead and do it and figure things out later. So I sometimes do that to a fault, right? Cause sometimes I go to an event figure out. I want to do something that just go ahead and start to implement. It. Haven't figured out all the process there, but it usually works out towards the end. We get those systems and procedures in place for that. But for this particular one, it was very similar where Friday and Friday night. I are actually Friday afternoon, Friday afternoons, when I heard the actual speaker speak about becoming the general. Friday night, I really thought about it, spoke about it with one of my good friends and mentors and decided right away that I wanted to do this. That Monday I talked to my CEO, asked him if I if he would be willing to take the CEO spot. He said that he was pretty much doing everything as it is anyway, and, uh, and so that the very next day I made the decision and then did you go back in the clinics and that the easiest part was that part right there was hearing somebody else say that you could do it and what you should be doing and then just making the decision to do it, because I never really had put my thoughts and in my mind in a position that could really think about stepping out until I heard him speak. And then I was able to figure out a way to do that. But the second part, yes, I would say that decided would be That was a little bit hard because just to be able to step away from something that I had been building for 56 years just to kind of honestly walk away, but really step away and let somebody else on this guy was That was really good at the guy who was a CEO, and he still is because he's he's been with me for the beginning of why I started bring these clinics on and so he was definitely something I knew that could take it on, and I think it was the right time for me, even just looking hindsight for me to be able to step away to bill to allow those clinics to continue to grow and for me to be able to grow in another area,

spk_0:   6:08
okay? And so those current businesses are they still operating? All of them. And how much of a role do you have in those?

spk_2:   6:14
So I am still 100% owner and all those businesses, and the role that I play is as the the president or really the guide in those businesses. And so I see on Monday mornings when I call my Monday morning financial reports that a review You should take about 30 45 minutes every Monday warning. And then I also have a corporate director meeting once a month for about an hour with my corporate team to make sure that my vision is continue to go on and the guide in different directions as needed.

spk_0:   6:41
Okay, very good. Sounds like he got it set up pretty well. So what would you say? Your ultimate success and those molt seven figure businesses have been,

spk_2:   6:49
I would say, one of the biggest things that I learned early on is the art of delegation. Because, you know, I could have gotten where I am today. faster If I had learned that concept earlier on and it was one of those things that again it's it's hard to do, especially for someone like myself, who on the type of person that thinks that I could do everything better than everybody else and it's to a fault. And I admit that because I still to this day think that. But it's something that I can't get over and so I just have to learn that that's who I am. And so what I did was I had to learn to delegate and realize that if I am doing something that somebody else could do, even if they could only do it 80 85% as good as I can, it's better than me having to spend my time doing it. And I just have to get over the fact that it might not get done. Ah, 100%. I think part of that that know thought was also that at the time I was in a startup mindset of hiring the cheapest people for trying to pull out the most work out of them. And so that was the second lesson that I learned that I was starting to grow is that I need to start to pay more for some really good people that I should just start to do things better than I could. Because even though in each individual responsibility, I still think I could do better than anybody else. If I have to do all of all of those precision particular positions, you know, I cannot do all of them as good as just one or two people that could do all of them. Or just that one position just as good.

spk_1:   8:14
How do you

spk_0:   8:15
decide which things to give up in which things to kind of keep for yourself?

spk_2:   8:19
Yeah, well, it's definitely morphed over the years because, you know, I'm I'm now I'm acting like I've mastered the art of delegation. So I sometimes delegate as a as a fault again, almost delegate everything. Um, you know, So, like, you know, my my background is obviously in business, and, you know, so you know, my wife wants me to do something at home in the mornings and the evenings or whatever I'll say, I'll just hire somebody to do that right s so you could definitely get in trouble because then she's like Walter's. Hire someone toe, you know, Do you do the laundry and hire someone to raise the kids? And, you know, you can always hire everything out. But, um, in business, the biggest thing I've learned is is that if it's not my highest and best use of my time, then I shouldn't be doing it. And I also teach my key player is the same thing. Like, you know, I don't wanna have to have double the amount of key players I wanna have a good, solid key team that they can also learn that art of delegation to be able to hire virtual assistant that need help in a certain area that they don't necessarily need to do, don't you? No moat, mundane tasks and also to be ableto, you know, train other people to do certain tasks that are in the office that they don't necessarily need to do. So. It's kind of hard to just say What are those tasks or how do you load those tasks are. But the best thing I always tell my team is, is what are your highest and best use, you know things and daily task that you are doing that you need to be doing. But what are some things that you're doing right now that a $12.15 dollars an hour twin dollar an hour person could do that? You don't need to do any more.

spk_0:   9:52
And would you suggest hiring those people before you can really afford it?

spk_1:   9:57
Um,

spk_2:   9:58
no. Because I would say that for me in the beginning, it was really beneficial for me to build to do those tasks because I learned and knew what it took to do them. But as I started to load on those task cause, I mean, you'll have to you have to admit, as a new entrepreneur anybody who's getting started in business. A lot of times they're doing everything right for the janitor. You know, they're the front sales person in the back office there. Everything and so it's hard to say, just high everything out because in a perfect world, if you have a lot of funding, yeah, that would be the best way to do it. But I think as entrepreneurs and people who are starting these businesses from scratch, it's a lot of times it's harder to do that. But as you start to grow and as your income starts to grow, you need to start to learn about, ah, hire people to take off. Take off some of those responsibilities even though it's going to cost you money, because at the end of the day, you'll be able to do it. You're really good at, which is growing the business.

spk_0:   10:49
Got it. Okay, so switching a multi family here when you switch to multi family. Did you take those things that you learn the delegation and hiring? You know, another general not being general yourself into your multi family business.

spk_2:   11:01
So every stage in the business, you're gonna need tohave difference. Different stages of what? Us what? What a business goes story Founder goes through. So you have the inventor stage. You have the you know, the stage where you're building the business. Then you have the manager phase and you have that point of where I am right now in most of my businesses, which isn't that guy, that that president phase. And so right now, I would say I'm still in that building phase and so I have taken a lot of those lessons like I do delegate a lot of tasks. One of the things I learned. I mean, I did early on as I hired an assistant to Goto help take on some of the responsibilities so that I didn't have to do them. And so I would definitely say that, you know, you know, earlier on in this business, I have learned some of the injured implement some things that I did in my other businesses. It allowed me to scale like I have so far in the multi family space. But at the same time, I'm not at the phase yet where I can completely phase myself out and get to the point of being completely passive and getting to the point of being in that in that full, full on guide position. But I have started to partner with people. I have to really good partners on my team right now that you do take a lot of the responsibilities that I don't have to do. So my primary responsibility with our team is to raise capital into to work with our passive investors and make sure that there be there taking care of the proper way. But yes, I am staging and putting it into a position where I can eventually get to the point where I can be in that past the standpoint again, where I have a good, solid team in place that is actually running it on a day to day operation.

spk_0:   12:34
God. And that first assistant that you hired is at a virtual assistant. Is that, like a live person

spk_2:   12:40
is actually a live person. So I mean, all, of course, virtual systems.

spk_0:   12:44
I'm sorry that I asked her mom way, but I think you know what I meant.

spk_2:   12:49
Yeah, I do get that question quite often. Like oh, is, is an in your office or a Stacy in your office? And yes, those people do actually work in my physical office location.

spk_0:   12:58
Okay, Got it. So you have a group multi family investor nation that Lolita mentioned earlier. I believe it's now over 9000 members just in the last 12 months, which is fantastic. Maybe it's a little bit over that, but I remember when this thing first came out about a year ago. So how have you been able to grow that so quickly?

spk_2:   13:16
Well, you know, my mentor is always, you know, pushed me to create an authority platform. And that's what I did with this with this group, the multi family investor nation and I really leveraged the meetup dot com platform to be able to really launch it into the atmosphere if you will. And so I started these groups thes meet up groups across the country, and we have 50 meet up groups across the country with co organizers and each one of those locations that meat every Monday night, the firm in the first Monday night of every month and what we've done and we change this, you know recently is we now do a what is called a content training for our co organizers to provide some valuable content around multi family investing to their local meet up groups. They could build that authority platform themselves within their own local meet up group. But it also has allowed us to go to grow in scale, our authority platform and and also with the the two summits that we do every year. That has allowed us to go to get to the point of having that authority position in the marketplace, because in the beginning, you know, I didn't really have a lot of authority. Nobody really knew who Dan Hanford was, and so I had to think of something, which is one of the reasons why you're doing a podcast like this. And you know, I have a podcast like I have with my stuff and with the multi family investor nation, we have, ah, podcast. We have a YouTube channel. We have a Facebook closed Facebook group at a Facebook. Paige gonna linked in channel were linked in page. We also have the meetup dot com groups, which meet, you know, once a month. And so that was what I used to be able to grow and scale it. But once I started the meetup dot com groups, one of the things that I started to do is is Bill an email list from those those people going to those meat upgrades by doing webinars. And then once I was doing webinars once a week to those two, that group I moved him into a Facebook group. So I had to different locations where I had them. And the biggest thing that people need to understand what they're starting these types of meet ups or groups or whether it's on Facebook Instagram, Twitter linked and wherever it is is that you don't own though that list. You know that Social Media platform owns that list, and you have to learn and figure out a way to get those people on your own list, cause that's really when you haven't asked that you can really start to market to people when you can get them off of social media onto your email list onto your your sales channel. Your funnel somehow and that is what we started to do earlier on. And, uh, so we now have an email list. We have the meetup dot com groups, and we have the whole the following on all the other social media platforms as well. And every single month, our goal is to try to get them off of those understudy off of them. But you get those leads in that information from them so we could start to fall up with them off of those social media platforms onto our own email list that we own, because you never know what's gonna happen to one of those social media platforms, because I hear all the time where somebody builds a huge audience and then all of a sudden, the plug is pulled out from underneath them and they never even thought to build an email list or build some sort of audience outside of that platform.

spk_0:   16:13
What is it? What have you seen? Has been the most successful to pull them from the social media sites onto your list.

spk_2:   16:20
The weekly Webinars. So you know it because everybody is gonna be pulled in a different way based on the weapon, or you do so I'm doing a webinar this week, actually, tomorrow that is gonna be on cost segregation, and a lot of people don't know what that is. And we actually have about 135 people registered for that weapon are well, the one we had last week. We did. We had over 250 register for that one. And so different people are gonna respond to different webinars on in different ways. And then the other way you could do it Also is this to do when you do those local meet ups, make sure that you have a sign up list or a sign enlist or they give their name their phone number. Any email. One of the things that I teach our co organizers to do is that they need to be the 1st 1 to fill that out, because all it takes is one person not filling out their e mail. And the rest of the people don't fill it out, you know, because people just follow the next person does. And so making sure that you get those having very purposeful actions. But to get them off of social media and on the same thing with Ah, most like podcasts gives something away on your podcast that is beneficial and helpful and change it up so that different people going to respond to different things and allows you to build that list off of the off the paddock podcast as well.

spk_0:   17:33
Next, good advice. So, ultimately, what is multi family investor nation? What's the purpose behind it?

spk_2:   17:39
Sure, it's twofold. So you know the first side of it is to provide as much valuable information valuable content surrounding multi family investing that will allow me to go to build this audience and build this this authority platform for people who are interested in investing and multi family because There's a lot of people that come to invest and want to learn how to do themselves. And once they realized the actual work that's actually involved in this, they realize that they would rather just be a passive investor. So the second fold is to attract passive investors and you know it and I have 1/3 or tertiary reason is to allow me to be able to speak on other people's stages. So that's one of the other reasons why I'm doing The Multi Family Investor Nations Summit is, yes, to build a value to the audience, but also to probe getting passive investors. But it has also allowed me to secure some additional speaking spots on some of the major in stages. You know, sharing the stage is with some pretty, pretty well known people, which is obviously elevated my platform as well,

spk_0:   18:36
okay, and the two events that you do on an annual basis, those air virtual events correct. That's correct. Can you talk a little bit about that? How that span? I think usually when people think of events they think of live events, how have the virtual events gone? How do they compare to the live events, and you first see yourself continuing to do the virtual or moving over to alive. Sure,

spk_2:   18:57
those were like three or four questions, and I'm sorry. So I would say that the biggest thing that hit it, it helps with. This is the stress of getting butts in seats, because when you do a live event and you feel you're gonna get a venue with three or 400 seats in it when I year behind the eight ball, because usually if you don't fill those full 304 100 seats, your speakers are gonna you look bad to your speakers, which also look back to the audience that actually shows up and, according to be stuck, stuck with this huge venue bill that you couldn't actually foot because you had so many people. So you know, that's that's one of the biggest stressors that is relieved with a virtual event is you don't have to worry about that. Ah, but the biggest downside I would say to it would be that there is no in person networking. And so that's one of the reasons why I like going to have to in person events is toe have that face time with, you know, my own investors that you want. I want to meet up with me. But also other investors that I've never met me before and they want to be able to meet up. And so you know, there's there's certain things that we do at the virtual events that that mitigate that we do some virtual masterminding toe our V i. P attendees. And, yes, this is a virtual event, and they do get V i p access for certain attendees. And it's for people who want that extra networking to, you know, we actually collaborate and make sure we have certain networking opportunities to be a close V i. P. Facebook group. They also get access to the name and email of the people that are part of the V I. P as well as the speakers so they can continue to network afterwards. And also those those special V I p. Masterminds. We do virtually so, yes, there are ways to mitigate that doesn't completely replace in person networking. Absolutely not. There's nothing that can replace Pete physical contact with people that you are trying to network with. There's just something about being in the room with somebody else that really traits that bond in that connection with somebody else. But I would say that we are continuing to do the virtual events right now. We're not considering doing any live in person events you think we have considered which you'll you might see over the next couple of months is partnering with other groups and operators that are hosting events and becoming what are called co hosts. So we won't necessarily be the ones that are the main person putting it on. But we will likely find some other people that are interested in putting on some events and help them by sponsoring it and putting it together and and hoping and helping to bring attendees to it as well. Because when you build an audience like we have, you know, we get reached out to a lot about, you know, sponsorship opportunities and be able to promote someone else's events to go the interest they're they're attendees and getting their butts in seats. But it also still reduces my stress of having to make sure I feel a 500 person auditorium,

spk_0:   21:36
all right, and how many people are you getting attending online to these ah, virtual events.

spk_2:   21:41
The 1st 1 we had a little over 500 a lot of which was in January, the one we had just recently in June, you had just over 600.

spk_0:   21:48
Congrats. That's awesome. That's really huge. Um, okay, so according to the website, looks like you have about 4 1400 doors. I think that also happened last 12 to 15 months. So are all these as a lead sponsor?

spk_2:   22:00
No, they're not. So one of the things I always encourage my audience to do on the multi family investor nation is is to start off by raising capital and partnering with other operators to build your credibility. Because in the beginning, it's going to very hard. So you know, a lot of people you know, they start out as an engineer and they go into real estate or they start out as an attorney or a doctor or whatever. Maybe, and they go into wanted to do real estate. When you start to reach out to people, they think of you as that doctor, or they think of you as that engineer and guess what is gonna be harder to raise that money. And so one of the things that I encourage our audience to do in the beginning is to be able to raise capital for other groups. And you do that by joining the partnership in providing value in other areas and be able to raise that capital. Plus, it also allows you to get your feet wet and talking to your family and friends and people who need to and that you want to it have invest in your next deal. Um, and uh, and so those you'll know which ones are really serious, because once you actually have a deal, you'll know which ones will actually invest. And, ah, and so it's very important to have those earlier deals that you're not necessary that lead sponsor on, but you're still a co sponsor on them That allows you to build a builder credibility and build your track record. And, uh, so that's one of the things I encourage. Our investors are multi family, investor, nation crowd to do first is part of the people, but we do right now. Since December of last year, we've been doing all of our own deals and raised all of her own capital and all that kind of good stuff. So right now we're not doing any deals for other groups, other operators. It's all for our own deals.

spk_0:   23:33
And I'm guessing that whole database is just built through the multi family investor nation.

spk_2:   23:38
That's correct. Now there's certain regulations about, obviously with the SEC about who he can and cannot send certain deals, too. So, you know, we've done 15 or six C registration, which has allowed us to go to market it to that group to that multi family investor nation group. But unless somebody when we do have five or six big, unless somebody reaches out to us, I go into our passive investing dot com side and saying, Hey, I want to invest with you Then they don't get most of our deal flow.

spk_0:   24:02
God, how was that? 50 60 have her different things that you know when you're advertising, you're not necessarily getting new investors. Ah, you're getting investors that you've already had in your database. But maybe you couldn't advertise to

spk_2:   24:13
before. Yeah, I would say the majority of the people we do we put into that five of six see where people hadn't who had never invested with us, which was actually good. And it also opened us up to another 136 additional investors that had never invested with us that we can now start to build a relationship with so they could qualify for that five or six b

spk_0:   24:34
Cool. Where do you see yourself in your company over the next five years? You've grown so fast over the last 12 months. So it would be It's really interesting to me to see where you'd be.

spk_2:   24:43
Yeah. So our goal of our company is to bring it, bring it to over one billion in assets under management. So are we're on part of do that. So, you know, we're looking to about looking to do about it. About 100 100 quarter this year and the next year. Probably double that.

spk_0:   24:56
Nice. Awesome. Lolita's gonna take us in our Final Four questions. Are you ready?

spk_2:   25:00
I'm ready.

spk_1:   25:02
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spk_2:   25:54
our group uses of software? It's a virtual software called Air Table air table dot com, and we use it as a virtual communication platform to allow us to go to keep track of our investors, but also our deal flow. And it allows us to build to keep track of a lot of different things, and all of us and our team could manage that and updates and real times. But any time, whether we're on our smartphones or on her desk tiles, we can have that data at our fingertips.

spk_1:   26:22
No, Great. Can you tell us a story about your biggest mistake in real estate investing so far in the main takeaway for listeners.

spk_2:   26:29
I would say my biggest mistake is that I should have got started sooner, and I know that might not sound like a huge like Woo, you know, type of mistake, but I really have not had any major mistakes. But when I think of mistakes, I think of the fact that I lost hundreds of thousands of dollars by not starting sooner because of the tax advantages of real estate. So if you're listening to this, you've been sit on. The fans have been thinking about it. Stop thinking about it and do it, because that was, I would say, my biggest mistake and then I lost the most. Money is not getting started sooner.

spk_1:   27:02
Awesome. What is it that you need to do you now to grow your life to the next level,

spk_2:   27:07
continue to surround myself with with larger people and bigger people better than myself? So, you know, I have tried to join at least one big mastermind, not necessarily in real estate. I'm It's usually outside of real estate. It allows me to be able to be surrounded by people that are higher level individuals, higher net worth, higher, higher level of businesses. And it allows me to Billy brought up, but also in that and try to surround myself in a room that I could do the same thing with other people that I could help to build them up and provide value to them too.

spk_1:   27:39
Awesome. Finally, where can people find out more about you?

spk_2:   27:42
There's two different places that I would encourage you to go to so drenched in and following us at the multi family investor nation. You can find us on Facebook linked in. You can also go to just multi family, investor nation dot com or, if you'd like and you're interested in Investing with us is one of our passive investing partners. You could go to passive investing dot com and just go there. You can find out all the information about the various properties close so far, but also each one of our partners, and then also let us know if you want to join us as ah on and join me on a phone call, we can discuss some of your goals as one of our investing partners as well to see if you're a good fit for us.

spk_1:   28:17
Perfect. Well, congrats on all your suspects. I am Thank you for providing such a huge educational platform to get us like minded people investing into a multi family assets. So awesome, great value you provided. We shall take advantage of that opportunity.

spk_2:   28:31
Awesome. Thank you so much for having me. I appreciate it.

spk_1:   28:33
Thanks.

spk_0:   28:36
Thanks for listening. To learn more about the passive income through multi family real estate podcast and to get access to today's show notes and the previous shows visit limitless dash estates dot com. If you enjoyed the show, please subscribe to the podcast. Thanks again for joining us. Be sure to tune in again next week for another episode.