Ep. 16 - Generational Wealth: The Passive Income Blueprint

Financial freedom is rarely about hitting a home run on your first try; it’s about having the discipline to get on base and stay there. For many, the barrier to entry isn't a lack of capital, but a lack of systems and the fear of the unglamorous "middle" of property ownership. Gaurav Gambhir, a founding member of TCS Management and a powerhouse in the Philadelphia real estate scene, joins the show to explain how he scaled from a computer science engineer to managing 5,500 units across 15 states.

We sit down to discuss the tactical shift required to move from being an independent agent to leading an organization that transacts billions in volume. Gaurav shares his "front row" strategy for learning from mentors like Gary Keller and breaks down the specific math behind a $400,000 investment property. We get into the future of the industry, including missing-middle housing solutions, the rise of "home management" memberships for the non-DIY generation, and why your first unit is the hardest—but most important—one you’ll ever buy.

The unglamorous truth is that building a 15-state empire requires 20 years of showing up when it isn't exciting and delegating the "how" so you can focus on the "who." Real estate is ultimately a game of math and patience, where the greatest returns often come from the tax depreciation and mortgage paydown that happen while you’re busy living your life. You will walk away from this conversation with a clear framework for diversifying your portfolio across 

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Transcript

Welcome And Meet Gorov

SPEAKER_00 0:04

Welcome to the Real Mike Dooley Podcast. I'm Mike Dooley, nationally recognized broker, bringing you real conversations, real strategies, and real insights into today's real estate market. Woo! We're here. Real Mike Dooley hanging out. We got what I love about guests is I get you live. I get a look at your eyes, we get a laugh, we gotta do all the funny things. Sometimes when I'm recording these with rock stars like you, you're out of town. So I'm looking at a little screen, so I don't get to see you. So we're gonna be live face to face. Tell all the audience, I got people for listening from Dubai, Paris, Arkansas, Paris, Texas, but all over the world. Tell them who we have in the audience and who's in who's in the house today.

SPEAKER_02 0:47

Uh well, first of all, this is exciting and nerve-wrugging. Sitting in front of you and uh and and answering your questions is uh is gonna be overwhelming, but uh, I'll do my best. Uh I'm Gorov Gambier. I'm from Philadelphia, Pennsylvania. Uh, I'm part of the uh Kerra Williams community. I'm also a uh founding member of a property management company called TCS Management, uh, that we have been growing and expanding in about 15 states. Uh and uh over the last being in the real estate business for about uh close to 20 years now. Uh, and life has been uh a good journey going from a uh computer science engineer into the real estate world.

SPEAKER_00 1:22

20 years. Can you imagine that? I know I'm just hitting 10 years. It's wild. It flies by, it really does. It's wild. Totally.

Parenting While Building Big

SPEAKER_00 1:29

Yeah. This wasn't on my list, but we had dinner last night, and I know what a good dad you are. You were upset you're gonna miss your daughter's softball, uh, which you didn't, right? I didn't. Yeah.

SPEAKER_02 1:38

You know, it's so funny that I signed up to be a uh an assistant coach for uh her team, and I have I don't understand softball. So uh the only way to get, you know, as our kids are getting older, I'm gonna make it really uh short, uh, is that we try to be in our kids' lives, and uh we want them to be doing what we are doing so we can be part of their lives. Uh what I realized was that she doesn't have any more time, she's so busy. So I have to go into her life. So, and her life is a lot about softball right now in school, and and she plays in the league in the neighborhood. So, how do I get to do that? So I started to be an assistant coach. It forces me to be in her life and I'm learning the game and I'm screwing up, but I've been having a lot of fun and it's so exciting, and I'm uh I'm very competitive. So it's bringing, I'm taking that to the field.

SPEAKER_00 2:24

You know what's fun? I'm Evelyn's basketball assistant coach, and I have been since she's been five or six. So, what you said is anyone listening, and a lot of people are being similar to us as far as uh, you know, high business, you know, business everywhere, business all over the place. And it's like you almost need to put it on your calendar. And not that it's bad, that's still our kids are priority, but it causes us to be the assistant coach and be that would be a tip I would give anyone listening, is be part of the program, part of the tip. But she she always reminds me of my 13-year-old, she's like, Dad, you don't really know what you're talking about, you know. I do know what I'm talking about. I played a lot of basketball. I told her, you know, as a kid I played at two o'clock in the morning. I was passionate about it. Now the the thing that I've complimented her, she just made the the eighth grade team, which is really cool. Amazing. Is my seventh grade and eighth grade. I didn't make the team. I didn't make basketball even in high school. I ran track and other sports, but the guy I remember, he was sitting next to me and we're in uh seventh grade. He's six five, like 200 pounds. You know, obviously, you know, I'm like a little rent at that time, too. You know, not that I'm any bigger now, but he's slam dunking in seventh grade, eighth grade. I said, honey, it's a little bit different because I grew up in Miami, Florida.

SPEAKER_02 3:30

God's got I I I I love I love that story. Thank you for showing.

SPEAKER_00 3:34

Well, I know too, and and we've had the blessing of hearing you on other podcasts.

Asking Better Questions To Learn

SPEAKER_00 3:38

I have, you know, and being a good business partner and following your journey. We're both in Gary Keller's top mastermind. So I remember many times one thing I compliment you on is that you don't usually let Gary pass by with a statement or comment that you don't clarify, you don't understand. And I think a lot of people in the room, you know, hundred, hundred people, they just nod and go on, but I I love this about you, and I've never told you, I'm telling you now, is that you raise your hand and say, Gary, give me a little more clarity. Yeah, you know, and I think when you first get in that room, sometimes it's intimidating. You're like, there's Gary Keller, billionaire, you know, been in real estate 43 years, but he's just a person like me and you. You know, he's just a he's a dad, he's a grandpa, he's all the things, you know. So true.

SPEAKER_02 4:14

So it's funny that I'll I'll share one thing with you. If if if I whenever I'm in the Gary's room, I rush and I'm getting 30 minutes earlier, uh, and I'd like to be in the front seat. Uh and everybody will tease me sometimes to say, oh, you just like to be as close to Gary. So I'll share a secret why I do that. Uh I'm extremely nervous, I'm very conscious. Uh, English is not my first language, so I always worry about what people around me are thinking about me. So I've experienced this when I'm sitting in the back and I raise a question, everybody looks at me. But if I'm sitting all the way in the front, I have no idea what everybody's looking at me and thinking about their expressions. That's the reason why I rush all the way to the front. And then now I am here to speak to Gary, and Gary and I are talking. There happen to be more people in the back. I have no idea. So I can speak my mind and be a genuine person I am. And that's why I usually go up really fast because I understand what the challenges I'm gonna face, and I chat and I fight those obstacles early on and found a solution for myself.

SPEAKER_00 5:11

Oh, I love that. You know, and I think a lot of us that are learners are constant learners, hopefully, people that are listening to this pod podcast are growth-minded. So if you think about it too, it's like when I've sat in the back of the room sometimes, it's quick to get out my phone, to get my emails, to get my text. You're in the front row in front of Gary Keller. You're not gonna get out your phone and start reading your emails and texts. So but you're engaged with the time. It's so limited the time we have with people like that. So to take advantage of it. So anyone listening should know, play all in and play engaged. So I love that. It's like it's a strategy. 30 minutes earlier, like I said, everyone else is kind of coming in. It's like, oh, where am I gonna see? You already know in your brain, you've already played it out exactly where we're gonna sit, yeah, questions you're gonna ask, the way you're gonna interact. That's that's brilliant.

SPEAKER_02 5:54

And it doesn't matter how how successful or how long you've been doing something. Uh, there are challenges. We're all fighting our demons, we're all fighting our objections in our minds. And you have to find a solution for that and be open to the mindset that you are still learning, you're still growing, and finding solutions is our is what we do best. So uh be okay and accept us to what if you don't do in a nice way, what uh how am I going to find a solution? So, this is part of the journey of finding out how to be best in every single thing that you're doing.

SPEAKER_00 6:21

I love

From Agent To 15 States

SPEAKER_00 6:22

that. And I want our audience, I don't want to, I don't want to skim over this. I heard you say 15 states. Yeah. Let people set that in. And I know it's over 5,500 doors in property management. You think of the power and the size of your organization. I would, I think it'd be helpful to let people know too what other organizations you have. You kind of skimmed over a little bit, but I know some of the things. Operating principle, and we're what, 1,100 agents. So maybe just touch on a little bit more because I want our audience to really understand the breadth and the depth of what you're leading and how you're leading. Because to me, it's your, it's your heart. Even though you have all these things, you know, it's like billions of dollars of real estate that you guys are are transacting in volume. But it's, you know what, we first thing we started our thing was was our daughters and basketball and sports. And my wife always says, Hey, why do you love Gary Keller so much? And that's one of the reasons I remember one of my first Zooms uh with him, what a couple of them. He had his his grandkid on his lap. Another time he said Millie, his dog on his lap, he's just human and just, you know, and that's what I mean, the relatability. Sure. Even though he's like, you know, leading this huge 175,000 uh organization, it's still a person and it's still people. And it does, it calms you down, doesn't it? It's 100%.

SPEAKER_02 7:29

And you actually, Mike, it's interesting that uh if if when you start a new career, or you when you're starting your career, uh, and you show up every day for the last 20 years, you don't feel any different. People from outside look at you differently because they're now comparing where you have come and how much the business has grown, all we do is just show up every day. And the consistency is what matters. So you I'm sitting here today and you ask me this question, I'm thinking back, wow, you're right. Uh, you know, I I uh am I gonna end up bragging with my numbers? But uh I just want to be humble and say that you know, is the people around us that have built the businesses. I I just show up every day for the last 20 years. So to put things in relative, uh, so hopefully uh I can add some context in my experience that I can share with uh anybody who's listening. Uh I I became a uh new, I became an agent um in real estate in 2005. Uh started as an independent agent um and uh wanted to make sure that I earned the right of understanding the the market so I can help our our our fellow uh clients. Uh I'm a I'm a student of education and learning. Uh so I wanted to make sure my philosophy has been you can people go to four years of college and then they earn the right of basically going to earn a living. That's when you call yourself an expert. Uh in real estate, we take a few months of education and then we call ourselves an expert. Uh I I think there's a flaw in that concept. For sure.

SPEAKER_00 8:52

So uh I wanted to make sure that I would You mean my 60 hours doesn't make me a doctor? I'm not a doctor in real estate. I'll think about changing my business card to Dr. Dooley, you know? It sounds pretty good. I I I like that.

SPEAKER_02 9:03

I like that. Uh and and you know, uh and with the four-year degree, you know, there's usually a market cap of, you know, you can make between 50 or 100 or 300,000, depending on your industry. But in real estate, you sky's the limit. So it's a very unique industry that we are in that we can we can we can get into the opportunity much earlier on in our careers. So I wanted to make sure that I get myself the the validation in my own mind. So I I took all my brokers' classes even before I sold my first real estate. So I think that four years of taking the education early on uh was very important for me and helpful to me. Uh I I I uh joined, I formed a new company uh and have progressed uh two different companies uh over the last 20 years. In 2018, I moved to KW, ended up buying, uh moving my 50 agent independent brokerage company called the Condo Shop into Keller Williams. Um, then started and ended up buying the franchise, grew up to about 500 agents. Uh in 2023, and we emerged with our neighboring market center. We are about 1,100 agents now. I'm no longer the OP. I just stepped down, uh, allowing my partner to be the OP. Congratulations. Thank you. Thank you.

SPEAKER_00 10:10

There's some days, you know, you there's definitely leadership is tough. Especially, you know, the operating principal role. It's like uh, you know, so you hate to say it, but sometimes you're not making anyone happy. You're really you're balancing the things.

SPEAKER_02 10:22

It's like property management. So sometimes a thankless job. Uh you want the best for people, and you know, they they may not want the best for themselves at times, and then there's a there's an alignment difference. So my business partner uh who wanted to take that role uh gives me the opportunity to be able to expand other businesses. So you know, with that opportunity of having 1,100 agents and doing close to 3 billion plus volume a year, uh, we are about 25% market share in Philadelphia at this point, which is pretty tremendous.

SPEAKER_00 10:47

I was just about to fall out of my chair. Did you say three billion dollars? You know, like you know, Mike Myers or whatever. I got my my pinky in the air for those. What does Jason Abrams say? All you guys driving around and your Range Rovers and your Land Rovers. I do want to, do you remember what episode you're on on MRA podcast or what number it is? It was about two months ago. Is that sounds ago? I highly recommend anyone listening to the real Mike Dooley's growth-minded, but you were on. I I love you guys, you and Jason did an awesome job. It was just a great uh insight into your growth. And I know you we kind of zoomed by, if you will, building your 50-person uh brokerage and kind of doing some of that. But if anyone's intrigued by you, I highly recommend checking you out on the Millionaire Real Estate Agent podcast. You did a great job. Thank you. I I did it, I did I'm doing rucking now. Have you ever done that with the weighted vest? You were telling me. Yeah, yeah. So, but when it's not bad weather, I don't get it in the day. I'll do it on the treadmill. Okay. So I listened to you, you know, those are usually those episodes are 40, 50 minutes somewhere in there. So that's about a four miles or so, you know, get it in. So it was it was a really good episode. I was a really I I think I was picking my pace up. I was so excited. I was happy for you just because I know your journey and I know you I see it. It was just so cool uh to see. So I think even on that podcast, you weren't at 15 locations now,

Becoming The Who For Others

SPEAKER_00 12:01

you know. So how cool is that to see the growth.

SPEAKER_02 12:02

It's interesting, you know, from from the prop from the real estate brokerage. Uh, I never thought that having being an independent agent, then starting a smaller team, then having a brokerage company, then becoming uh an OP of a larger Keller Williams franchise, uh, is going to open up opportunities because you don't plan for it. You know, you have you can't plan for all the opportunities that are going to show up on uh at your door. Uh, you have to be ready for the opportunity. You have to show up. I think that's what happened in my career. Uh that created opportunities for uh being around investors a lot more. Uh and uh I started, we started a property management company, uh, which was about just helping our fellow clients, you know, helping them manage their investment portfolios better. But that one unit that into 10 and then 50, then 100, and we started growing that over a period of time. Uh, but I think uh, and you know, once you go all in, that added a lot more volume really fast because our business and the platform was big enough. And then we were very open, bringing other partners from outside. Uh then we saw people like yourself who are very successful and uh very entrepreneurial, uh, but they don't have the time to dedicate into a newer opportunity. While the opportunity might be right there, uh you just don't people don't have the time to say, how am I gonna build this? Uh and so my goal was when I'm meeting friends, I'm having these conversations, sharing ideas of what we have done and learning from them as well. Then there's an exchange of ideas. And then you say, you know, oh, how about a border system? You teach me this, I'll teach you this. Uh and then start start very very soon I started realizing that uh, you know, because of lack of opportunity of lack of time, people did not know how they wanted to learn how to do it. And then they came back and said, it's not how to do it, who's gonna do it?

SPEAKER_00 13:38

So that when the do not how, yep, I love that.

SPEAKER_02 13:40

But so when that realization happened to me, and I said, Okay, uh so we don't have to just teach people and I have to find a solution how to do it for them and who's gonna do it. So, how do I become the who, not just the how? And I think that started happening conversation one by one. There's huge opportunities across the country. And so we started thinking bigger. And Gary was a big part of my uh my goal setting for the future, and he said, uh, figure out how you can do one property unit for management, uh, let's say in Arkansas. And I said, How am I gonna do one property management in one unit in Arkansas? And he said, Well, that's a challenge. Because when when Gary started opening his franchises, you know, early on in his career, he went to a new town and he had one agent who was doing one unit at a time. So that was a very interesting, you know, I'm gonna remember for the rest of my life how that made me think smaller, but one step at a time can add to much larger. So then, you know, just adding other things. Uh uh property management became pretty uh is expanding. We launched an insurance brokerage company right behind because when people have investment properties, they need to be getting insurance. Uh then you know when something happens in the properties, then you need to have repairs and maintenance. So that came by. Uh, when people are buying and selling, you need to have some mortgage relationships and title. So that came by. Uh, once you have so many units and agents in your team, then transaction management and media comes by. So we've been just uh uh growing because there was a need uh and uh not because I had a want.

SPEAKER_00 15:07

Well, will you just go take a nap and then you dream and then just pop some of the little little cartoon? You're like, oh, mortgage is here, insurance is here. It's like well, before I forget the stock, we were in the room and I remember I don't remember exactly what it was called. Gary talked about that one page, remember? It was like a dynamo. What was it? Dynamo. Yeah, that's exactly what it was. Yeah, I remember you were in there. I remember you're asking those questions, you know, and and you think about that. And he's had how do you have a replicatable thing? That's right. And that's what I'm thinking about for my my app, my home management uh app, if you will. It's like, how do you make it so anyone could plug in a platform? That's right. Well, another thing I heard him say, which I think you're realizing too, if you think about these businesses, is that they're all membership, if you will. Not in a traditional sense of Amazon or Walmart, but what you're building, though, is you're building a framework too, because they say I think it's like 80% uh of retention for insurance. As long as the prices aren't going too crazy, you know, and you can shop the brokers, you're gonna keep them. If you look at State Farm and some of these other companies, is membership. Right. And I think that's what I see you're building as I know Gary told us this. He's he said in the room, hey, what's some of the biggest companies in the world? You know, we talked about Walmart and Amazon and Apple and all that. He's like, what do they have in common? Yeah, memberships. Sure. So that's really something that I'm thinking

Betting On Future Real Estate Uses

SPEAKER_00 16:17

about. I would, I want to switch gears on this part too. Is there a company that you're thinking about? And I'm gonna get your mind running too, and maybe you already have one. Is I heard this on a podcast most recently. If we go to driverless cars, so say you went to the office and you were at my Roger's office and we parked the car, and then we walked to the office, then the car went to work. It actually drove people around, it made money. What's not going to be needed anymore is parking garages. So I heard that on a podcast. I can't take credit for it, but it got me at my wheels turning as I'm going. How do I maybe think about acquiring parking garages maybe that turn into multifamily and kind of looking at things differently? Yeah. We've talked to this one company that's actually has drone delivery. So they need land. They need to rent land. And I was like, how do some of my buildings, maybe the parking lots that are not utilized, become the drone parking lot where they charge over the night or they charge, you know, to do delivery? So it's got us thinking differently in real estate. Uh, a buddy of mine owns a drop yard. All it is is a concrete pad and then trucks, RVs, all these things, they just park there. It's all automated. They use an app, they go right in, and they need a place to store it. Maybe they live in a neighborhood where you can't have trailers for landscaping because of the H O P O A. So it's got, have you thought about something like that? Are you thinking about some of those uh companies or things to think differently? That that I'm not that smart, Mike. Oh, I'm not saying I'm doing any of them, but I think too, as leaders, me and you, what happens, I think, at a lot of our agents and a lot of our current leaders are in the now.

SPEAKER_02 17:47

Yeah.

SPEAKER_00 17:48

You know, there's news out there about other brokerages, and Gary always talked about this. It's gonna be consolidation of teams or brokerages. It's it's just gonna occur. That means someone like him was an industry leader and was thinking 10 years from now, 20 years from now, 30 years from now. Whenever he's on stage, I hear him say, Jay, you remember we had this idea 30 years ago. He does it all the time, you know. So it's like me, how am I that person that says, oh, what does that look like? So my home management platform, and there is other ones going on, but that's what I'm thinking about saying, okay, how do I make the consumer's life easier and make revenue from it? So you're just planting a seed, yeah.

SPEAKER_02 18:21

And you've shared some of those uh things with me regarding the app. I think it's a very uh uh forward-thinking concept uh because you're right, that you know, that that creates an opportunity for a lot of people to be able to understand uh the value behind the biggest asset of their lives and the comfort level that allows people to grow and expand, you know, the whole idea of wealth building and passive income, that that will play a pretty big role into people's lives. So uh, you know, good luck on that journey as well. A couple of things that we are thinking, you know, uh once you're involved in one side of the uh business, then your brain starts digging deeper into that. So I'll

Homeowner Property Management And Roommates

SPEAKER_02 18:55

I'll share a couple of things that we are looking into our property management world. Uh we uh me and my business partner went to uh a local university in Philadelphia as a special guest uh for a real estate major um uh class. And there were about 100 kids in the class, 100 uh college kids, yeah, students. Um and we asked them, and I asked them a question, like, you know, what is the number one reason why uh, in your opinion, people are fearful of uh buying home? And they were must have been about 19-ish years of age, uh, and you know, very smart, you know, they're doing their either master's or MBA uh into that uh and they said sorry, in the bachelor's, and they said what they have heard or what they fear is uh the amount of uh effort it'll take and the fear it'll take that if something goes wrong. So it wasn't the money, it wasn't the financials, uh it was the fear of I don't want to manage or handle the repairs and maintenance. And that had that actually that it's been over a few years ago, and that has been triggering our uh something in our minds that we want to launch uh at some point. And uh I hope uh people who are listening can also relate to that is if uh there could be property management not only for investors, there could be property management for homeowners as well. People don't have the time, uh, they're running around crazy, they're willing to pay a price. So, you know, we we can hire cleaners for the house, we can hire you know handymen for the house, so we can also hire uh someone to take care of the house. So, you know, what what you were talking about, the app, you know, can play into a very big database on the back end. If people said, well, I here's all the information about my house, but I don't just want to take care of it. You know, when I'm going to work, when I come back home, I want this to be taken care of. If the faucet was broken, I don't want to be home and take off from work to do that. So I think there's a huge piece of a business that doesn't exist today. Uh, not many people are offering that opportunity. I think that's great. Another one that we are actually going to be launching very soon uh will be about a roommate sharing program. So, you know, as expensive as the housing has gotten, uh, there are people who are like-minded. They would like to uh have a two-bedroom place, they don't know each other. But how do you find that like-minded people, that matchmaking to be roommates, not uh you know, you know, in nothing more than just you know trying to find financially uh capable and uh and like-minded people. So I think there's a huge market for that as well, you know, with the lot of real estate that is coming up, finding those people who can't afford the luxury, but they can have that common luxury avenue by sharing opportunities with each other. So I think bringing them together is a very difficult task. And I think uh that'll be interesting to see how we can play with that as well.

SPEAKER_00 21:25

I love that. We think about stores like we're in Walmart headquarterland, taking Walmarts, maybe they bought a new one or they moved down the street and have a brand new one, the old facility, converting that to many apartments more on a horizontal level, and really thinking about the way we live differently. Yeah. There is actually it's funny you talk about the maintenance piece. There's always been companies like the AC company, where you pay 50 bucks a month or whatever, you know, and then they'll service it and you know, they'll winterize it twice a year. But there's never really been a company that's taken the whole home and have that. So I love that thought. I know Lowe's has put an R. out recently that they're starting to dabble uh in this and think about this. And that just tells me we're moving in the right path because if you can get that whole home connectivity. Sure. As we know, there's been a lot of companies, Amazon and Google have done it from a digital perspective, but not actually to your point, the young people, they don't know how to fix anything. I don't know how to fix anything. My dad, my dad's going to turn 80 and he fixed everything, but he would always go, hey, get the ladder, get the hammer, whatever. I was the guy that held the stuff, you know, but he knows how to fix everything. That generation is is, you know, either passing or moving on. The new generation doesn't know how to fix anything. So I'd love what you said this peace of mind. If they knew we were proactive on the home and it was always being serviced at all times. Yeah. I mean our our bodies need to be serviced, right? We're taking vitamins, we're working out, doing this stuff, but the home, we only think about it reactive, fix the roof. Now we fix the pipes. How great would it be if this is a working machine all the time that we're proactively thinking about.

SPEAKER_02 22:53

If the house was compared to our automobile and every six months I had an oil change and the you know the treading of the tires being checked and and and in anticipation saying here's the things that you worry about. Here's where the scoring for the other equipment in the house is I think it makes a home uh living experience more smoother as well and doesn't have to be that much expensive. So that's that's an interesting way that we're looking at it and saying now the investor pool or the client pool doesn't have to be the investors in the market. Now everybody who has a home becomes a potential client. And how but how do you create the value for them to be able to be able to service them? So that's uh a process a very detailed system and process uh that you have to create but I I think there's an opportunity there.

SPEAKER_00 23:35

For sure

Leadership Credit And Content Moats

SPEAKER_00 23:36

huge. I want to make sure there's probably a lot of people listening that want to engage with you. You're very helpful and willing to help people where do they find you on social media websites LinkedIn? Where's the best place for someone wants to get in contact with you? They want to have you on their podcast.

SPEAKER_02 23:49

They want to have you come speak maybe location number 16 or 17 where do they find you so I embarrassing but I'm not on social media as much it's something I decided personally that I'm going to stick in the Facebook world and not really venture into the TikTok and Instagram as much. So I'm not there. You can find me you find me there but I'm not as active LinkedIn is pretty uh easy my my name is spelled Gorov G-A-U-R-A-V last name Gambir G-A-M-B-H-I-R. You know and uh what I've also realized is you know people always worry about giving their cell phone numbers or email addresses uh on a on a platform like this but very few will take the opportunity of actually reaching out and the ones that are reaching out you know are the ones that you really want to talk to as well. So I'll take uh with the same leap of faith here as well. My email is the best way to reach me. Uh it's Gorov G-A-U-R-A-V at T C S M G T for TCSmanagement.com.

SPEAKER_00 24:46

Well we better warn warn uh Joe for all the emails he needs to handle himself. He's awesome. And I think that's something to think about if I look at all your growth and I've started to meet more and more of your people I think that's important for anyone listening. And I kind of had a few notes and talking about that too is when you grow an organization and you start it out that way, I don't do always a great job of thanking the people that are helping me every day. And I love that you led that way by saying what a good leader you are is that it takes a whole family and team and leaders and talent.

SPEAKER_02 25:15

Uh because in your world, you know, I know just in a property management there's about 44 employees right and we're now 50 plus employees full-time employees and their families and uh it's uh they're the ones who are working the hardest and I'm here chilling with you. Yes exactly my wife always says well you're out doing the podcasts and the shows and the speaking we're working I'm so I I think we have the face to the organization and it's very important for us to uh be the be play in the role that we are assigned to as well. It's not easy you know talking and being leaving this conversation out there forever because when you uh either you're the blabbering or you make a mistake, you know it's embarrassing. Uh but the team doesn't have to have that uh pressure on them. Uh but I play that role you're playing that role uh but it's it's you know it's somebody who's they're pushing me out in the front of saying you know go represent us and that's a big responsibility.

SPEAKER_00 26:03

I take it seriously I think it was last family reunion. So if you're not at Keller Williams, that's our national sales meeting if you will our national conference last year, Gary and we were talking about Google and maybe some of that transitioning not necessarily going away because they said you know Jim and I is going to have 50% of the market share uh from an AI perspective but they said the content like this. So anybody listening, one thing I heard from them is we need to continue to build content. So when they go, hey, who's the best real estate agent in Arkansas? Well AI is going to go pull all the models and say well this Mike Dooley has 10,000 pieces of content. So I just something I paid attention to and I realized saying you know so a reminder to everyone our show drops every Friday at 707 uh a m because I know JPAV is on his 21% or it drops at 7 a.m. So I wanted to be a little bit different to him and I like James Bond so I wanted that double seven so 707. I thought you got to have fun with it too. You can't take yourself too serious. Sure.

SPEAKER_02 27:00

If you're not having fun it gets uh redundant and boring um and uh you know and there are gonna be challenges but have fun doing it. Um and I also anybody who wants to reach out to me uh even if it's not about a business opportunity I think people sometimes you know want to relate to each other. You know they're I'm an immigrant to the country I always uh uh speak my mind on that concept as well that there are a lot of people out there that uh don't feel that uh they have a platform to have their voice or you know they don't believe in themselves and they're scared and they don't know what to do. I think that conversation also needs to be out there for people to be able to go out and try new things. The world has been very uh good to me. The country has been very amazing to me and I'm very fortunate I I think the there are people out there that can benefit from that too.

SPEAKER_00 27:41

Well and speaking

Helping Investors Scale Across Markets

SPEAKER_00 27:42

I want you to benefit I know one of the things you're always looking for is helping great investors. Yeah. So investors please reach out to you too you always have you know with 15 locations in property management that was kind of my aha last night at dinner saying wow you know how us we're always searching you know you're searching Zillow or the agent side or MLS you have this database of huge opportunities that are already being serviced and managed flawlessly as you know so investors need to reach out. Sure. So if what what would be some of your favorite investors that need to be looking multifamily uh commercial retail right now you have a lot of things in your pipeline.

SPEAKER_02 28:18

Sure. So we so we manage uh single family uh duplex triplex cords as well and then in Ferdafi we manage multifamily and condo associations as well the larger the uh property will be about 250 plus units that we manage with full personnel uh but as we're expanding in different markets you know you learn and you grow in Nashville we just picked up a 68 unit uh community as well so we we are going from single family to multifamily and everything in between uh one interesting thing that I've also learned from this experience of growing and expanding with different markets is uh people are very afraid to invest in different markets because they don't know the local boots on the ground or they don't have a trustworthy person. I'll rephrase it by saying people are trying to build a team and they don't have the time or energy or the confidence of building that same rock star team every single time in every place they go. So our goal is that if we have the right partners uh like yourself and other people that we bring in uh and we are supporting helping create you know what you have done and your team has done uh our uh our local expert you know the market better than anyone else but on the property management side we can do a lot on the back end ourselves a lot for our investors so our investors can buy a property in Philadelphia Nashville Orlando Arkansas Phoenix and other states that we are in and then have the same person be the point of contact have the same accountant report for all the financials have the same person working on all the work orders or the team working work orders that makes it much more comfortable for that investor to say I trust you you have built a good team across the country and then I'm comfortable spending the money because I know it's being taken care of. I think that grow uh that's a very unique way of growing for that investor across the country to be able to find opportunities. You know if if I'm talking to somebody in Nashville they'll say I have a I you know I I have a I have my cousin who's looking to move and can you help us this there? Or I would like to have a retirement planning to be done in Orlando when I retire, but I'm not there yet. But I'd like to buy something and keep it today so that I can have something in the future. But I'm glad that you can your team can manage it as well. So that is opening up opportunities and we manage for about 2500 investors today which is a whole uh big group that we're making we're giving them and showing them opportunities across the country and making them think beyond the local market. So uh that's that's been exciting uh you know I'm I'm walking around and looking at some of the projects here in Arkansas uh we are going to Oklahoma City tonight to learn a little bit more of that market. So my job with my team is to bring that awareness and the knowledge across the country to those investors. So if any investors out there uh you know just want to have a conversation or uh and look looking to find a way to uh solve a problem I think a conversation and a mastermind conversation is where we begin.

SPEAKER_00 31:09

That's awesome. Yeah that's so cool. And it's almost like a monopoly board. You know, you think about it too we think about Nashville and these other cities to your point it doesn't matter where it is really because it's all math. That's great. And I've heard you talk about that a lot too it's all math you know it's like okay where can I make the best return on my money. Right. If you think about the stock market it's not like you live in those places where it's being produced or made it's funny how we think about real estate it's like oh I need to drive by it. It's actually better not to drive by it not with not with TCS with our team it's flawless and perfect but other people right you don't want to see the tree down. You don't want to see those other things it's like you know that does happen. That's part of property management. But how great is it? It's like you know what I don't need to think about it. It's you know it's I I this my aha right now too as you think about some of the companies you invest in the stock market it's like you don't know the CEO personally you don't know the headquarters you're not driving their factories and their facilities. So it's the same thing you know when you think about it that way it's dollars and cents.

SPEAKER_02 32:03

I use this phrase a lot uh as an investor you should take your hands off property management but don't take your eyes off the property management. So you should you need to know what's going on. You need to be transparent have transparency across the board to know where my money is, how my work orders came in, what the rent has been coming in, how the market is doing. But you don't have to be involved in doing all those things. And I think that's where the satisfaction of being a passive income comes into play or the aggravation and frustration is like, I can't do this with this anymore. You know, because you don't have the right team and you're too involved in the nitty gritty. And there are investors are super happy and uh the biggest way that we are growing is for the same investors to continue buying more assets. So usually uh you know people will be on one to one or one to two ratio we are about one to three, three and a half units per investor. That helps us to uh help them continue growing and and much faster as well. And it's easier to work with the same investor you worked once and it's just a matter of finding opportunities for them. Then the retail brokerage size grows and then everything I mentioned in between a one-stop solution benefits in between because now you're creating a solution for them and a supply that they don't have to go out out looking for themselves.

SPEAKER_00 33:13

That's what I love and thank you for the opportunity for us to have it here in Arkansas 2020 taught me this whenever a client needs something I just say yes. They're like hey I need property management. Yes. I need mortgage yes I need insurance we can always meet the client where they are they're like hey I just built a pool I'm not moving for five years. Yes well let's go ahead and talk to our insurance broker we can shop your insurance hey the interest rate went down we can we can refi we can always just help clients along the journey and I think that's been a win. It's so easy for me I think in the beginning I was always saying no we can't do that. No we can't do that or let me get you with someone then we couldn't control the service. We couldn't control how they're being interacted with and how they were helping and that's been a win. Yeah I do want to make sure I thank our sponsor too we're gonna keep going if that's okay but Mutual Omaha Mortgage we want to thank them for sponsoring the show and hanging out with us. They've been a great sponsor along the way with the real Mike Dooley. And for me if you want to hang out and spend time with real Mike Dooley you can find me on all the social media platforms Real Mike Dooley. And then you know you think about it too I don't know from a branding perspective one thing I learned is some people said hey having your name in it. But then I thought about this and I was like you know what I want to be me I want to be you know about me and growing something awesome and connectivity to the people I didn't want to be this you know a big network company if you will you know it's like you know that's I'm I'm a man of the people if you will well what did what does Jason say the the the podcast the people's podcast it's so fun to be around you Mike you're you're such a warm loving caring person you make you you make everyone feel around you like royalty and that's a that's a great thing about you and uh I'm I'm fortunate to be hanging out and spending time with you. I'll pay you later my wife would tell you maybe differently you know I probably left the toilet seat up probably you know trash the kitchen and do all that stuff. But I want to go too if you look at it and I have just a few other notes too if you think about I I love that you said going to one. So if you think about an investor it's probably very hard for them to pull the trigger on the first one but two, three and so forth just goes snap of fingers. And it's just math. And I think a lot of times people think about the financing side and the banking side but really once you're already doing this with the one it's easy for the bank to go hey you're succeeding in that here's two here's three let's run together as you know as we do this.

SPEAKER_02 35:22

Yeah and and

The Investor Math Most Miss

SPEAKER_02 35:23

not every investor is the same. So you have to understand what kind of investors you are uh you know we have investors who are looking for a passive income way down in line uh down in their in the in the journey of uh of their uh financial freedom that they're looking to achieve and then there are other investors who will say I need a X percentage of cash and cash return every year otherwise I can invest my money everywhere somewhere else. Also keep in mind like if you're a newer investor, people say, well I can invest this money somewhere else. People always have money saved in the bank they don't invest every penny of it. So how much is the money that is sitting in the bank actually making you you know uh because you don't want to put it all into one place. You want to diversify but you're trying to get one investment side of return into every other investment goal as well. If the stock market is doing great at that moment of time you want to get X percentage return. But when the market goes down we start looking at 10 different places. It's a long journey. So I'll give you an example how I look at investments for people who are trying to get into the investment world. Take a $4000 property somebody has saved $100,000 and they can invest into a property buy for $400,000. You know I looked at some beautiful homes that uh one of your team members showed me today. So I was thinking doing this math in my mind. So if I if you know uh and I might consider one of them myself is like you buy something for $400,000 you put $100,000 down that I have saved. Now I have $300,000. If I rent it out minus the uh having a professional company manage it so I don't have to worry about on a daily basis uh I have my taxes and insurance and other tax benefits that I can get by by being an owner. And let's say let's say worst case scenario I only make a hundred bucks cash flow. Okay. It's not a big return I only make a hundred bucks most people will say it's a horrible investment. I put $100,000 down and I basically made a hundred bucks a month. But hear me out on this particular concept. So let's say the $100 in the next one or two or three years when a refrigerator breaks or something else capital improvement happens even that money goes away so now I made zero right so not but I have a 30 year mortgage I make zero money and in one thing is for guarantee in 30 years somebody paid off my loan in 30 years. So in between if I did lost a few months money a few money is a few bucks as well so here's how we think about it. In 2026 I put on $100,000 in 30 years I had $300,000 paid off my backend was $10,000 a year for 30 years. So if somebody told me today give me I'll give you $100,000 and in return I'll get $10,000 every year for 30 years fixed. And the appreciation that happens and the depreciation benefits I happen the tax benefits that come into play if my interest rates in the next 30 years go down I'll refinance it pay it faster how many more can I buy? Right in the the tax um uh depreciation that's just icing on the cake that that's so your point not taking anything else cash and cash I can put $100,000 down and I can make $10,000 every year the cash that I don't see today, but it's from my left pocket to my right pocket. If I did this 10 times then after 30 years or 25 years, 20 years after paying off I now have assets which is probably worth $5000 times 10 and then I also have $100,000 passive income coming in. Isn't that what we all run for?

SPEAKER_00 38:42

For sure.

SPEAKER_02 38:43

Right? So I think people people get too bogged down looking into you know how much ROI? What's my cap rate? Am I making 6%? I can make 8% here realist there's nothing like real estate but you got to build a team around it to be able to help find you the asset, maintain the asset. That's what's saying keep your hands off, keep your eyes on it.

SPEAKER_00 39:01

Opportunities the last 30 years four and a half percent appreciation on that curve you know and it's like all day long over and over and this is the greatest thing they also talk about too we're the only uh industry we have insider trading you know where someone's like hey have this information you know and it's it's it's allowed and both supposed to take an advantage of it. I would say a lot of people are not sometimes in my office I'm teaching wealth building every Friday and I think sometimes people get this thought process and they overanalyze overanalyze overanalyze and they never do the one deal to your point how do we help more people do one deal that's then two and three and four is so easy to do. Yeah. As we're wrapping up what do you want to make sure for the people listening all over the world what do you what do you want to leave with them? Where do they find you again? You said on Facebook's a really good spot.

SPEAKER_02 39:48

Facebook is a great spot you can find me Gorov Gimbir um you'll find me and my beautiful daughter's photograph on there as well but uh uh reach me or my email I think is the best way uh I have a team that checks it as well we can get back to you fast gorov at tcssmgd.com uh the only thing that my I have a mission in my mind of how I want to to help people uh I want to help people create uh generational wealth uh and uh I've seen so much in life that people go through uh which there's not planned you know health reasons families something happens and then the struggle for uh financial freedom that we are shooting for so passive income is is a big play so I I'll highly recommend people to look into ways for not just have a job of working every day. It doesn't matter how much money you make today but when you stop working you need to have something behind the scenes to help you sustain the life that you'd like to enjoy not just today for years and years to come and how cool it would be to leave a legacy behind where your families and other people that you know will benefit from that as well. You know, we're looking at we we look at the biggest players like you know in this in this town like Walmart and how generational that they have done but also how many families do you make an impact on? So you know we don't think that far out but it does happen. So start with one start thinking about wealth building and passive income financial freedom start reading more about it start having conversations I have thoroughly enjoyed that in my journey and I'm very grateful for that and I hope others take advantage of that as well.

SPEAKER_00 41:12

Well love

Generational Wealth And Closing

SPEAKER_00 41:13

having the show if first time listening go ahead and subscribe because I know you have thousands of thousands of people that are your followers so make sure they subscribe and share the show will continue to bring great value to all our audience. Thank you guys we love you. Great show appreciate you being here. Thank you for having me here Mike thanks for listening to the Real Mike Dooley podcast. Subscribe share stay real I'm Mike Dooley until next time