Leverage Investment Diversification for Real Estate Success

Speaker 1: 0:00

defining what product is really right for you. Where are you older and you want just cash flow? You’re in retirement and you just want to equip that coupon risk-free kind of thing. Or do you want to have some equity upside but then you’re going a little bit further on the risk curve. So really important to understand debt versus equity.

Speaker 2: 0:17

Welcome to the Passive Income Brothers podcast.

Speaker 1: 0:20

Here we take the fear out of real estate investing using real-life stories of everyday successful investors. Let’s go Welcome to another episode of the Passive Income Brothers podcast. My name is Tim Lyons and today I’m joined by none other than my brother, greg. How you doing today, buddy?

Speaker 2: 0:35

Tim, I think I’m going pretty well right now. What the listeners don’t understand is that we are now on take three of even trying to get through the introduction. So I am fired up to be here because it is take three.

Speaker 1: 0:50

Yeah, like I couldn’t speak English for the first couple ones, but here I am, so I’m happy to be here. Greg is in a dorm room in East Stroudsburg, Pennsylvania. His big man is at camp today and we’re just making it happen. This is summertime podcasting at its finest, Greg, isn’t it?

Speaker 2: 1:04

At its finest, we have the bare walls I’m missing, like a two-pot poster and like a lava lamp right now. So for those watching on YouTube, it is a barren, barren room, but you know what. This is. Why we do this, tim, is to have the freedom and ability to follow our kids and their pursuits and to travel and to do a bunch of different things, and that’s why we got into real estate 100%.

Speaker 1: 1:31

It’s all about that lifestyle. It’s all about the five freedoms, right? And Greg, I think today we have some pretty relevant topics and it’s something that is kind of pression to some of the conversations that I’ve been having with investors, with other real estate professionals in the business, because, as we record this on Tuesday, august 1st, the stock market, I think just had 13 days in a row of gains, right, or something like that 12, 13 days in a row. I mean, all the leading indicators from the macro and economists that we follow are pointing to an ugly ugly situation. We have reduced liquidity. We have an impending credit crunch. We have a commercial real estate situation on the horizon. We have earnings that are either just meeting analysts’ estimates, which kind of begs the question are we cooking the books here a little bit to make sure that we’re hitting some of those nominal numbers? There’s a lot going on. People are confused. They’re like what do I do? Do I keep my money in treasuries? Do I keep my money in T-bills? Do I keep my money in the bank? Do I keep it under my mattress? I mean, including myself. I’m shocked that we are where we are today. Let’s just rehash the Fed just raised the Fed funds rate again by 25 basis points last week and they’re threatening to do another one in September. There’s a lot to unpack here, greg. I think what’s good about this kind of episode is we’re in the trenches. We’re trying to do the same thing. We have capital to be placed Our own capital, family capital, friends’ capital, investors’ capital. We always are looking to do what’s best for not only us, but our family and our investors. Greg, let’s go through some of these hot topics.

Speaker 2: 3:17

Well, tim, I think that’s the thing. I think confusion reigns supreme right now. We find that with a lot of our investors, a couple of years ago we’d put an offering out and people would be throwing money at us. Now I kind of actually like it a little bit more because we’re actually having a couple more in-depth conversations with our investors. They’re asking about the market. They’re asking about the strength of the operator. On the other side of that, people really are looking for places to put their money Under the mattress, especially in a time like right now is not the thing to do. It’s finding the right deals. It’s finding the right operators. Maybe it’s fixed rate debt. Whatever, your hot button topics are finding those avenues right now to invest, you can make a lot of money going forward because, as Warren Buffett said, you make money when there’s blood in the streets. You invest when there’s blood in the streets instead of just when everyone’s doing it. You’re usually in the wrong place.

Speaker 1: 4:15

That’s a great point, greg. I just heard a podcast this week on Adam Taggart’s podcast called Wealthion. He had a behavioral economist on. It was fascinating because we all want to think that we’re pretty good at what we do, we’re pretty good husbands, we’re pretty good fathers, we’re pretty good investors. By and large, retail investors buy when it’s high and they sell in a panic when it starts to get low.

Speaker 2: 4:38

That’s what I’m saying. People were throwing money at us two years ago when everyone was doing it. It was the in vogue thing to do. To your behavioral economist point. That’s not the time to be doing it. Now is the time to be doing it. This is not advice, though.

Speaker 1: 4:53

We’re never giving advice. We’re simply giving our opinions and our observations of what we’re seeing. I think there’s always a time to buy, there’s always a time to sell, there’s always a time to sit on your hands. The difference is the education and the information that you’re either spending the time getting and going through or you’re not. These days, there’s no shortage of misinformation, fake news Use whatever term you want. There’s just a ton of it out there. How do you distill what is useful, what’s valuable, what do you have time Like? Everybody doesn’t have a lot of time sometimes to go through and educate themselves. They need a guy, a quote, unquote guy, to tell them, and that’s what Greg and I are here for. We’re that guide to. Here’s what we’re doing, here’s our offerings. This is what we like about it. Who’s interested?

Speaker 2: 5:42

I think a lot of the times when we put an offering out and we’re still putting deals out right now through CitySide Capital, if you’re interested, let us know, you can get on our mailing list but a lot of times when we put a deal out, it spurs a conversation or it spurs a thought. So sometimes people call us and say, hey, why do you believe in this, why do you think this is a good deal, why do you think I should invest in this? And they may not invest in that particular offering, but it gets them thinking about multifamily in Dallas, it gets them thinking about multifamily in Florida, it gets them thinking about self-storage in a diversified portfolio throughout the southeast, right. And I think that brings upon something that we want to talk about a little bit more today, and that is diversification and the different ways you can diversify your portfolio. It’s not just I have an apartment building in the state of Washington, in Phoenix, in Florida and in Maine Right, that’s geographical diversification. Yes, you hit all four corners of the United States, but it may not be what you really want to do. So, tim, let’s talk about diversification a little bit and let’s hit on that first one. What’s geographic diversification?

Speaker 1: 6:49

Yeah, I mean, I love this. I love this topic of diversification. And to zoom out for one second, Greg, diversification might be somebody saying, well, I’m in an ETF in technology, I’m in an ETF in the banking sector and I’m in the S&P 500, and I’m like great, you are all in the same asset class, You’re in that same boat. They might have different names, but you’re literally in the same boat. So that boat goes down, You’re going down with it, right?

Speaker 2: 7:10

So 2008 happens, everything’s going down it doesn’t matter, it doesn’t matter.

Speaker 1: 7:15

So I love how you bring up geographic diversification, right. Because when we think about geography in the United States at least, and through the lens of multifamily, I know where I grew up. I know where we grew up, greg. I’ve been around the country a lot of places. I know where I might want to live, where I might not want to live, but that’s not how you invest, right. So we might go on vacation one time and be like, wow, this is awesome. Imagine we had a house here and I’m like we don’t know anything about this area. We don’t have zero clue about job growth, population growth, what’s the government doing? How is the rental rule? And that’s where I see geographic diversification saying look, we want to invest in areas where the population is growing, where there’s job growth, economic growth, where there’s landlord-friendly rules and regulations, and that really kind of helps out with the geographic side of diversification. Also, in a vacation-type destination where maybe only six months out of the year, you might be rocking our own. So there’s a lot that goes into that. So just keep that in mind when you hear about diversification, greg. The next one is asset class diversification, right. What exactly does that mean?

Speaker 2: 8:18

I think you set the table for that really nice before, when you said, hey, I’m in a bunch of different ETFs, I’m in the S&P, I’m in a NASDAQ index fund, you could be in a technology, oil and gas, you’re in the same asset class. Really right, you’re in the market. When we say asset class, we mean, and just like I do, I have money in the markets right now. Right, I have stock account, trading account, all that stuff. But I also have assets in a multifamily. I also have assets in self-storage, and that is true asset class diversification, because if housing takes a dive, maybe my multifamily assets maybe go down a little bit, but maybe my stock portfolio is fine. Right, my self-storage is a completely different asset class than multifamily. So when you look at assets, don’t just say, yes, I’m in the market or hey, I’m in my 401K and I have cash, right, that’s basically the whole thing. You want to have cash, you want some market exposure, you want real estate exposure. I mean, you can do. Oil and gas is a bunch of different things you could do. Car washes, there’s a bunch of different things you can do. But it’s finding the right mix that you are comfortable with in your own portfolio.

Speaker 1: 9:33

Greg, I’d love to stack on top of that. A lot of times I have some difficulty when people lump commercial real estate or all real estate together, because if you talk about commercial real estate, you’re buying large, talking about multifamily, which is defined as five units or more Self-storage, industrial, medical office, real office, suburban office, urban core office, trophy office. I mean, what am I leaving out? Industrial business type park, triple net leases. I mean there’s so open air retail, closed air retail, there’s just so much that kind of goes into commercial real estate and they’re all different, right. So the math for how to value these may be pretty much the same, but there’s compelling investing theses behind all of that. So for multifamily, for example, I like to be in that asset class because I feel like we need food, clothing and apartments. At the end of the day, we won’t want to lay down our head on not a cardboard box, but we want to be in an apartment, right, that’s clean, safe and affordable.

Speaker 2: 10:32

And that’s our investment thesis. That’s how we really built City.

Speaker 1: 10:35

Psych Ethel 100% and, given where interest rates are right now, I mean the, I think, the 30-year fixed rate mortgage. As of Friday, when I was reading the article, I think it was 6.9, something that’s approaching the seven handle, right, and that’s just the average. So obviously there’s going to be some that are lower and some that are higher. I mean that’s going to price an incredible amount of people out of the market.

Speaker 2: 10:59

Yeah, and then when you talk about commercial real estate, tim, there’s also a debt versus equity investment you can make and you want to tell listeners a little bit about that.

Speaker 1: 11:07

When you talk about diversification, so a lot of people who are unfamiliar with debt investing, think bond, think clipping the coupon right, you invest, say I don’t know, $100,000. I’m going to make something up, right, and that’s a distressed debt fund, right, so you’re going to invest in this fund and that fund is going to collate or aggregate all this capital and they’re going to go and buy distressed assets. Maybe it’s a single family fund, maybe it’s a multifamily, maybe it’s I don’t know hotels, right, hotels are getting hurt or they have been hurt through COVID. Maybe it’s an office distressed debt. But then you’re just getting a coupon on the agreed upon structure of that deal, say, 8% monthly. Right, but when they buy and sell these distressed assets, or they rehab them and then sell them or keep them and burn them, whatever they might do, you’re not enjoying any upside upon the sale. You’re just getting your coupon every single month, right, because you’re almost like the bank. You’re like the bank, right, you’re loaning your money into a debt fund.

Speaker 2: 12:05

But if something goes wrong with the property, you typically get the actual property when you’re holding the debt.

Speaker 1: 12:12

Correct. So say you’re doing like you’re investing in a single family distressed fund. On the debt side, you may get title right or the fund may get they’re going to get first lean position on whatever property that they’re investing in or taking over or whatever Like. So there’s some recourse, right, there’s some. You’re investing in the debt but there’s an asset back piece or component to it and a lot of times how is that income treated right? So if you’re investing on the debt side of, say, a real estate fund, that’s probably going to be simple interest or simple interest income and maybe it doesn’t fall under the passive activity rules, depending on what kind of deal you’re doing, right? That’s why CPAs are so important to have on your team. You have to be talking constantly with your CPA about strategy and how certain buckets of income are being taxed On the equity side. If you’re taking an equity position on one of these deals say again, you’re buying into a fund that’s doing distressed assets and say I don’t know single families Well, when the fund takes over these properties, rehabs them, rents them out, collects revenue or fixes them up and flips them for a profit, if you’re an equity investor, you get not only maybe a preferred return of, say, 3%, 4%, 5% during the whole period, but then you get a bump every time they have a sale right. So really kind of defining what product is really right for you. Where are you older and you want just cash flow. You’re in retirement and you just want to equip that coupon risk-free kind of thing, or less risk, I should say. Or do you want to have maybe some equity upside, but then you’re going a little bit further out on the risk curve. So really important to understand debt versus equity.

Speaker 2: 13:45

Yeah, it’s so true, it’s having conversations, though. When you call us and say, hey, I may want to make an equity investment so I can participate in some upside, we have some options for that. If you say, hey, I want to do more of a coupon where I want to hire cash flow, there’s certain things we could do for that. Or if you say you want something completely different, something we don’t offer, we may know someone that we could put you in touch with and say, hey, you want car washes? I have a guy I can send you over for car washes. That’s just not something we do. That’s not our specialty, right? So there’s always someone out there that could help at least have a conversation with. So the last thing I want to talk about with diversification is passive versus active. Right, when you’re passive versus active, there are tax ramifications on those sort of things. So if you want to just walk the listener through a little passive versus active when you’re diversifying your real estate portfolio, Right.

Speaker 1: 14:39

So if you’re an active investor, right, you’re the guy or you’re the girl, right, you’re doing the acquisition, you’re doing the team building, you’re doing the debt financing, you’re doing the asset management, the property management, screening tenants, putting them in there, doing the rehabs, keeping track of the renovation teams Like you’re active, right. And like Greg said, there are certain tax consequences that may be beneficial to you. If you are an active real estate investor, right, On the flip side, there’s active stock traders, there’s day traders, there’s swing traders, there’s options right I mean. So that’s an active way to be investing in the stock market, right? So, and those are all taxed differently than long-term capital gains that you hold for at least a year and a day, right, those are all ordinary income. Well, I shouldn’t say all because I’m not a CPA, but if you’re day trading and you make a profit on that one day, there’s a lot of tax ramifications around that.

Speaker 2: 15:31

So this was passive, yeah. And then I think, tim, when you go to the passive side of things, I think most people that have a job are actually passive investors. If they have a 403B, if they have a 401K, they’re putting money aside that are going into mutual funds. They’re not investing really in the stock market, they’re putting their money with the mutual fund companies and they are actually passive investors. So if you have a 401K or a 403B, you are a passive investor already. If you want to take the next step and get into alternative assets, like apartments, like self-storage, you can become passive in another way 100%, greg.

Speaker 1: 16:10

And what I love about on the Wall Street side of the equation, I’d say, is that you’ll hear about the argument of dollar cost averaging into the stock market. Right, so every two weeks maybe, when you get paid, or every month when you get paid, a certain percentage goes into this 401K or 403B, 457, whatever it might be right, and you kind of it’s like autopilot, you don’t think about it, it just it is what it is and you’re kind of just over time, you’re just plugging away, adding to your positions. Why can’t we do that on the alternative? Asset side is what I always like love to talk to people about. Right, and Greg, we just talked about it. We were buying properties two years ago, 18 months ago, 12 months ago, this month right, you could the market, some of them were just before the peak, and now we’re kind of maybe on the other side of it who knows. But we’re kind of doing the same thing, right, we’re pairing the debt with the acquisition price with the right team, with the right asset, with the right geographic location and we’re kind of dollar-crossed averaging into commercial real estate assets across the spectrum and across the country. So we’re doing I like to joke that Greg and I are both actively passive, but we seek to serve our passive investors by doing the same thing, whether it’s with cash, whether it’s with a 1031 exchange or whether it’s with their self-directed IRAs.

Speaker 2: 17:21

Tim, I’m pretty sure that’s every part of diversification you could possibly think of. Right, I got one more. Oh, you got one more.

Speaker 1: 17:29

Oh my gosh, a bonus Just popped into my head. It’s duration, right? You’ll hear a lot about duration when you listen to somebody or you read a book about bonds, right, and bonds are confusing, right To me. It took me a little while to hire the yield to lower the price, to hire the price to lower the yield. That inverse correlation really kind of threw me for a loop. I don’t know why, I think, but anyway it did Anyway. So duration right. You can have 30-year treasuries, right. You can have 15-10-year treasuries, 5-year, 2-year, 1-year or T-bills Every 30 days they roll over, right? Like, what kind of duration are you looking for? Duration just simply means the time that the asset itself takes to mature, right? So what’s your time horizon? Are you a 25-year-old that just had a liquidity event and you have all the time in the world to be maybe a little bit more risky quote-unquote risky with your investments? Or are you 75 and you’re looking for cash flow and some sort of security in retirement, right, and everybody in between? So just be mindful about duration. When it comes to what Greg and I do, we always kind of tell investors it’s 3-5, 3-6 years, right? A project can be underwritten for a 5-year hold or a 6-year hold. It doesn’t necessarily mean that we’re going to keep it for all 6 or 5 years, but we always talk about an opportunistic sale or refinance can change the landscape of that deal. So, but when it comes down to a Greg, understanding, diversification, understanding each of these topics is huge.

Speaker 2: 18:51

Now, tim, when we started today, you were particularly high on this next topic and that is risk versus volatility. And I think it’s easy to say right now, oh the economy’s crap, and then just leave it at that, right, and people can run away or stick their heads in the sand. But when you listen to podcasts like this, when you listen to different podcasts, you read different things, you really start to kind of burrow down a little bit and say what is risk versus volatility? Tim, you give us a couple of minutes on that.

Speaker 1: 19:24

I’ll take it away. So when I think about risk, right, like you’ll hear people say well, I can sit risk-free in treasuries for 5% I don’t know what it’s trading at today but say five plus or minus a couple of basis points and I might say a money market account, which is an account that basically invests into different duration treasuries and T-bills or the RRP right, and I can sit risk-free. The federal government is going to pay me X amount, or the money market is going to pay me X amount, and there’s really no volatility, no up and down in the market. I can just have a straight shot, right, so there’s very little risk. But on the other end of that spectrum is, say, maybe if you have a lot of money and you’re looking to put seed capital into a tech company in Silicon Valley right Now, you can have a 30X return or you could have a nothing burger and lose all your capital. I mean that’s risk, right, when something can go really up high or down to zero, that’s risk. There’s a lot of cryptocurrencies. I’m going to try to say a word on how many, take a guess on how many there are out there, but there’s a lot that just don’t have any value, right, there’s only value in so far as somebody’s willing to take the other side of that trade and pay you for it. But it can go to zero or it can be a 10-bagger, I don’t know. And when I say 10-bagger it’s like a 10X return, right, that’s risk. Volatility, on the other hand, is like the everyday right. So think about your big companies, your value companies, your GEs, some of your banks, right, jpmorgan, walmart, I mean Caterpillar, like dividend yielding stocks that are out there. So, yeah, you have a dividend, right, that might be either cash in your pocket or a drip right, dividend reinvestment. But when you get a dividend, just reinvest, you reinvest, right. So there’s volatility there, right, because one day the stock might take off, might go up 5%, 10% or a week or a month, but then there might be down 5%, 10%. So there’s volatility there. But the risk of going to zero is really probably a lot less than that seed capital for a brand new startup that’s burning money at the rate of, say, 10 million a month, right. So I really want people to understand listen, there’s risk out there, there’s a risk curve, and the further that you go out on the risk curve, the more of a chance that you have to either make a lot of money or go to zero. When you talk about volatility, it’s really understanding the fundamentals of the asset class that you’re trying to invest in and understanding that, look, you are going to take some risk, but you’re understanding that there’s up and downs in the market. Now, the good thing about real estate that I love is that it moves like a barge. Right, it moves like an aircraft carrier out in sea very slowly, right, there’s really no whipsaw effect when you’re talking about real estate and to me, I like that because it’s not as liquid as, say, day trading or stocks or bonds or checking accounts. Even. Right, there’s a liquidity factor. So when there’s ups and downs in the market, so long as your cash flow positive and you don’t have to sell in a panic, that’s really kind of taking some of the risk off the table and then cash flowing until it’s more appropriate for you to have an exit.

Speaker 2: 22:32

And you know, what’s really interesting is that, and one of the reasons I like real estate is that it’s not marked to market. And marked to market means there’s a price for your asset assigned at the close of every trading day, right, and people can watch this, the ticker on the stock market and take your caterpillar stock and I mean they can go nuts. With an 8 cent swing, either high or low or caterpillar or whatever is trading at today, earnings can come out. They could go up 3%, down 3%, but there’s going to be a value assigned to caterpillar at 4 pm Eastern every single day. Right, that’s marked to market. When you invest in an apartment building, a value is not assigned to that property every day. And that’s really interesting because when there are volatile times like we’re in right now maybe choppiness in the market, interest rate risk and those sort of things as long as you’re growing your net operating income, you’re in good shape with your apartment building. So you can’t look every Tuesday and say how much is my apartment building worth At the end at 4 o’clock Eastern every day. You’re not going to say how much is my apartment building worth. You’re going to look on a monthly basis and see, is my net operating income growing? Are my expenses lowering? Is everything staying the same? And that’s why it kind of takes the anxiety out of real estate investing, because it’s not assigned to value every single day.

Speaker 1: 23:59

And this is why we talk to investors about the non-liquidity factor of real estate, right? You can’t just go on your app, open it up and say you know what I feel nervous today about what’s going on. I want to go to cash and I’m going to hit a button and in two or three days, when the transaction settles, I’m going to have money in my account. Right, that just simply doesn’t happen in real estate, which is why Greg and I have this podcast, which is why we preach about masterminds, which is why we preach about 10 pages a day in the morning podcast, education, reading books. This is why because it is a lot of information, right, and the confused mind is going to say no, but there’s so much value out there for you I’m talking directly to you, the listener that when we come to liquidity, I just want to give you an example of what we’re maybe talking about. There’s a pretty big Wall Street type firm, private equity company that owns real estate, and they do it through what’s called a real estate investment trust, and a real estate investment trust is a way to have exposure to assets in the real estate space and you could have liquidity, right. So it’s kind of like the best of both worlds If you want to have some income producing assets, pay your dividends on a monthly basis or whatever it might be, but also you have the opportunity to say, listen, I want to just be able to go on my app, on my Robinhood app, and just sell and get liquid. There’s also something called. Those are called traded REITs or publicly traded REITs. There’s also something called the non-traded REIT and also interval funds that also invest in these big assets. Right, there might be a multifamily non-traded REIT, a self-storage non-traded REIT, a triple net lease fund, like there’s all different types. But when we say non-traded, you also can’t just go onto your app and just hit, sell, right and get liquid. You might have a monthly redemption opportunity, depending on what kind of deal you’re in, or even a quarterly redemption period, which simply means that you maybe need to give them 60, 90 days, 30, 60, 90 days notice that you want to sell your interests in that non-traded REIT. So what happened was back when the Fed started raising their interest rates March of 2023, I’m good at this, right Really kind of raising them. A lot. People got nervous, right? So they started to have these redemption requests to this particular firm that we’re now buying one of their assets, right. So they had to gate the redemption request down, meaning that they couldn’t satisfy with cash from this fund the redemption requests at will. So they had to say, look, you can only take 10 or 20 or 50% redemption requests at a time and as we sell our assets to become more liquid with cash, we can start paying out some of your redemption requests. That’s not a great position to be in for this non-traded REIT. Right Now they have to fire sale assets right that they don’t want to sell, that they were happily buying and running and cash flowing with. But that’s where Greg and I position ourselves with our partners on the other side of that transaction. So when there’s a forced liquidation to raise capital, we can be that solution for a company. So that’s what we just didn’t doubt us. We just picked up a deal for about 190 door when the comps are all going for 250, 260 door and that’s a great place to be right. So listen, in real estate a lot of investments you’re going to run out of time or you’re going to run out of money, right, and you don’t want to run out of either one. So it’s so important to be able to buy your asset right, manage it right and finance it right. Those are the three pillars of at least real estate that we were taught, and it means so much right. So, greg, let me kick it back to you.

Speaker 2: 27:36

Yeah, you know what I like about that Dallas Steel, tim, is that we like to say this a lot on this podcast is you make money when you buy. And when you buy at a low enough basis meaning the per door price that we paid for that asset in Dallas, we would have to do some severely wrong things to not be able to make money on that asset. But when you buy at that right basis or that lower basis, there was definitely a discount to market. And when you’re buying in those sorts of positions, you saw building a portfolio of investments that have a chance to do really, really well down the road. And that’s what we did for this particular non-trader re-way. They had to satisfy their redemptions, they had to sell. They were not selling for top dollar and we were there to kind of pick up the pieces, which was in a beautiful asset too I mean not very old, in pretty good shape, but there’s still a value added component to it. So we are really excited about that. And that’s the biggest thing is, if you’re interested in alternative assets that’s that meaning multifamily, self-storage, industrial reach out to us, get on our mailing list, start seeing some of the offerings, so you may not be ready to invest now, but you may start seeing things that say, oh, I have a couple of questions about this. You get more comfortable with the process and you don’t have to throw money at anything. But that knowledge muscle is what you’re trying to build in real estate and you may become an active investor from some of the knowledge that you’re gaining. But reach out, speak with us, have a conversation. We love to meet up with people. We love to have zooms with people because we love talking real estate.

Speaker 1: 29:13

I’m going to leave you with this. I only four short years into this real estate journey and it has changed my life. It has changed my family’s life. It’s changed Greg and I’s relationship. It’s changed everything. It’s changed my dad’s retirement. He’s able to live this fantastic, safe retirement because there’s a significant portion of his capital coming from passive investments, and I want this to be available to everybody. If you call me today and say, Tim, I have a million dollars I want to put into a deal today, that’s not how it works. I need you to understand the process, and this is what I love to talk about. So, with that being said, Cityside Capital. This is what we do all day, every day. If you want to hop on a call with us, head over to our website, wwwcitysidecapcom, Right in that header. There there’s an option to click a button to schedule a call with either Greg or I, or just reach out to us via email Greg at CitysideCap or Tim at CitysideCap and we’d be happy to get you started on your own journey towards building out those passive income streams.

Speaker 2: 30:19

Tim, after coming to everyone from East Stroudsburg, pennsylvania a lovely metropolis, by the way I’ll be back home for the next podcast. I’ll be in familiar surroundings, but it’s so enjoyable to be able to join people on a weekly basis talk real estate and we’ve built so many wonderful relationships from this podcast. We really do appreciate the people that have reached out with either questions or have left a review for us. Those are all really positive things and we really enjoy what we do here.

Speaker 1: 30:51

Love it. If you have an opportunity to just take two minutes, listen to a podcast, please, please, consider giving us a five-star rating and review. It means so much to us, not only to read that somebody’s actually listening out there, but it’s an opportunity for us to grow this podcast to have more impact and more reach for other people. Greg and I are just excited. We just feel like we’re getting started. With that being said, I’m going to take us out, greg. We look forward to serving you again next week and we hope you got some value out of this week’s episode. Thank you for listening to another episode of the Passive Income Brothers podcast. We would be grateful for your support of our podcast by giving our show a five-star rating and review and subscribing to our show on your favorite podcast platform. Don’t forget to take inspired action after listening to this show so that you can start building out your Passive Income streams. Finally, head on over to citiesidecapcom to connect with us and find out more information about how to get started passively investing in real estate.