Strategies for Supercharged Passive Investment Profits Since Day One with Lee Yoder

Tim Lyons: 0:05

Before you got into real estate, imagine that’s a lot of people that you’re talking to. That’s where they’re at, where real estate is risky. Lost some money on a flip and I just put my money in my 401k. That’s what everybody does at work. Stock market always goes up. Welcome to the Passive Income Brothers podcast.

 

Lee Yoder: 0:19

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 we are going to go deep into the archives and share with you a podcast that I recently had the privilege of being a guest on. That podcast is called the Threefold Real Estate Investing Podcast with a friend of mine, lee Yoder. As you might recall, lee was a guest on the Passive Income Brothers podcast on episode number 14. If you guys have not heard of Lee’s story, go back to episode 14, check him out. He’s an incredibly incredible guy, incredible family man making it happen in the multifamily space, doing some incredibly lucrative deals. Check him out Then we’re going to share with you the podcast that I recently had with him. I think you guys will get a lot of value out of hearing what it was like for me to get started. When somebody else is asking me the questions not Greg You can see what was I up against, what were the resources that I used, what were some of the limiting beliefs or the obstacles that I had to overcome. It’s easier for me sometimes to talk on a podcast episode that it’s not Greg, because he knows my story already. Anyway, i think we get a lot of value out of it. Yeah, enjoy. I hope everybody had a pleasant 4th of July. I know we got washed out up here in the Northeast, but it’s all good. Just really want to give a shout out to our servicemen and women, our essential workers that had to work yesterday, on July 4th. I hope you guys enjoy this episode.

 

Tim Lyons: 1:54

Welcome back three-fold listeners. I hope you’re having a great week. this week We’ve got another great guest for you today. Tim Lines is joining us from the New York area. He lives in Connecticut but he’s still a New York City fireman. He’s a real estate investor. I’ll tell you a little bit about him and then we’ll bring him in. Like I said, tim’s a fireman but he is the co-founder and managing partner of Cityside Capital, a real estate syndication investment company that focuses on commercial real estate assets that yield strong returns. Lieutenant New York City Fire Department we’ve served for 17 plus years. Before becoming a real estate investor, he also worked as a part-time RN. That’s awesome. My wife’s an RN. Tim’s initial goal with real estate was to create passive income. In turn, he’ll spend more time with his wife than three girls. After partnering on a small multifamily property, he saw firsthand the power of real estate investing as an opportunity to create passive income and build wealth for his family. We jumped in, started Cityside Capital with the goal of not only growing his own portfolio but also to help others realize the power that real estate investing can have on creating wealth. We’ll jump into all that, but thanks so much for jumping on the show today.

 

Lee Yoder: 2:57

Well, lee, thanks for having me. It’s good to see you again because you are also a guest on our podcast. Yeah, it was fun.

 

Tim Lyons: 3:04

Yeah, yeah, glad to turn the tables, excited to hear more about your story, tim. I know it pretty well, but excited to share it with my audience. So let’s start at the beginning. Take us back. You were a farmer and it sounds like you were, maybe. Hey, what else is out there? Maybe I need to add something Like this is a good thing, obviously, it must be a pretty good job Still doing it for a long time, but something was missing. What was in you? What had you heard? and maybe, what did you learn and why did you decide to jump in the water?

 

Lee Yoder: 3:27

Yeah, so long story short. I mean, i was a hard worker, right 70, 80, 90 hours overtime at the firehouse, working as an ER nurse. Life was good, bills were paid, two vacations a year Really nothing to complain about, pension to look forward to. But there was something that I needed more of and I think it was really timely I wanted more time with my babies. I wanted more time at home. I wanted more time to create my own life instead of just really living in a rat race. But there was two jobs that I loved. I really didn’t hit me all that hard until I had three little girls. I started. You know it was bad enough for the one, but I really wanted to reclaim my time. And when I started to get educated about building wealth, it became apparent to me that I couldn’t save my way to wealth. And although I was very fortunate to be able to look forward to a pension and a defined benefit program, i wanted more today, the here and now, versus when you’re 55, 65, 70,. I just didn’t subscribe to that model anymore. So I did really two things. I did research. I went down an incredible rabbit hole of podcasts, audio books, books, going to meetups, virtual meetups, and two things stood out to me Real estate and owning your own business. And at the time I had two jobs, so owning my own business didn’t really seem that attractive. So real estate was what I really kind of dove into Growing up. I subscribed to the accumulation model right, pay off your mortgage. Well, first, go to school, get a good job. Right, tax out your 401k or 403B in my case it’s a 457, maybe do a Roth after that or an IRA. And then, once you do that and you clip coupons and you save money and you put it into mutual funds, whatever you can, and in 30 or 40 years you’ll have X amount of dollars. And I think I got blinded by that. You know, yes, i could have a million, or maybe even 2 million. Who knows The equity in my home, like all those things that we kind of get taught or I got taught by my parents to say this is what you should do. We didn’t necessarily do it the right way, but now this is what you should do. And then when you’re 65, you peel off 4% and you kind of outlive your money, or that’s the goal at least. And maybe when I was young that made sense, but when I had my little girls and I felt like I was missing their lives. I liked what I did. I love being a New York City firefighter, but at the end of the day, i also want to be that and I want to be the coaches of their teams and I want to be able to go on their field trips. I want to be able to ride bikes to school with them and do all the things, and I felt like I didn’t have that without giving up some sort of income by trading my time Right okay, got it.

 

Tim Lyons: 5:55

So you’re looking how can I keep making the same amount of money, kind of keep on the same financial path, but not trade so much time for it? So you’re looking for something more passive. You know which you saw. If you own a business, you know you’ve got people running that business and it can spend all cash flow, but that’s very time intensive to get going. And then there’s probably times like you see a lot of people that kind of run their own businesses and they work a ton of hours. And then you saw real estate. Where you dig in, you find out like real estate can be pretty passive. It can happen. You can have someone manage it for you, things like that. So you jump into that.

 

Lee Yoder: 6:21

How did you get?

 

Tim Lyons: 6:21

started. Let’s just start there. How did you get started in real estate? What did you do first?

 

Lee Yoder: 6:25

So, coming from a scarcity mindset right, very modest upbringing. I was scared about deploying any kind of money that I had saved, because I was just nervous. Real estate was taught to me as risky and people like you know blue collar guys like me we didn’t do real estate. So when I finally became comfortable with the asset class, i convinced a friend of mine to go in with me 50 50 on a three family property. So there was three units. They were each two bed, one bath, and that’s what we did. We found a good deal After a little bit of searching, a cash flow from day one. We were nervous, so we got an LLC to buy the property, which means we had to get commercial financings. We didn’t qualify for the best type of financing, but we were cash flowing each from day one for $500 each a month. Nice Yeah, but I was mowing the lawn, taking turns, right? Hey, craig, is it your turn or my turn? The leaves, the snow, the light bulb changes the, whatever it might be.

 

Tim Lyons: 7:16

I was always another job, another life.

 

Lee Yoder: 7:18

So, like I, thought there was like passive income somewhere. This is like a third job, So anyway. so I realized that was a great experience, but I needed something more. That’s when multifamily came into my life.

 

Tim Lyons: 7:27

Got it. And multifamily why? Because you don’t have to mother grass, You don’t have to do all that stuff.

 

Lee Yoder: 7:31

Well, because there’s property management right. There’s economies of scale and I’m a math guy, so it makes sense to me right, some expenses, noi debt. Everything can make sense to me when you can assign values to it. I just had to learn the process, so that’s what I dedicated myself to.

 

Tim Lyons: 7:47

So you start running some numbers, tim. You’re saying, okay, there’s three unit proof of concept. It’s spitting on cash flow every month for me and my partner, so there’s picking up pie from more than one guy but probably doesn’t make that much sense. We have someone manage it. It’s harder to manage small properties. They’re going to charge us more, so you’re going to give up a lot of cash flow and it’s really low. And so, with still proof of concept, so let’s do more of this, let’s go, we’re not losing money. The first key is maybe some people made it out to be So let’s get some bigger properties that are easier to manage so we can get property management on it. They’re bigger so that it’s economies of scale, so they can afford that property management and still spit on cash flow. But to do that, tim, you’re going to need a lot more money. So how do you get over that for them?

 

Lee Yoder: 8:22

So I realized that I had to start raising capital for deals, right. But listen, i think so many people out there, lee, just like you and I realize that real estate is an asset class that they quote unquote should be in, but they don’t know where to start, they don’t know who to trust, they don’t know where. Then it gets really hard. Very fast You say you know what Real estate is not for me. Or you know, my great-uncle, johnny, lost money on a flip 35 years ago. So therefore, real estate is not for me. And I saw that as an opportunity to say, well, look, no, it is for you. I’ve done it a little bit and here’s what I’m looking to do. So I just started telling people what I was doing. Here’s what I’m doing, here’s what I did, here’s what I’m looking to do going forward. If I found something like that, would you be interested? And I just started telling people whether it was friends, family, college roommates and I started to hear a lot of yeses or a lot of maybes, but not a lot of hard noes. So I knew I was onto something. So, yeah, I ended up getting into a 43 unit in Pennsylvania with a mentor of mine who kind of showed me the ropes of commercial real estate, ended up raising a little bit of money and that became my passion. I really set to myself man, if I could raise money for real estate as a gig, that would be perfect. Because that’s like in my wheelhouse Being a New York City firefighter. I wasn’t leaving for Austin, texas, or Phoenix, arizona, or sunny Florida Right, i wasn’t about to do that, but I could do that from New York.

 

Tim Lyons: 9:36

Yeah, absolutely So. Again, probably another proof of concept, tim, that now you can raise some of the money and bring investors in on this bigger multi-family property, that you can get professional management on it. I’m assuming it cash flows too, and now your investors are seeing that nice cash flow And so they’re seeing that passive income where they just give you the money. They don’t have anything to do with it, they’re not trading any time, but their money is making money Right. Good experience there with creating passive income, not only for you but for your investors.

 

Lee Yoder: 10:02

Yeah, i mean those first investors have now done subsequent deals with us because there was their proof of concept. I have $50,000 into that deal, right, and I get 291.67 every month like clockwork. And then there was tax benefit, so there was growing that I had to do through this process. But as I grew, my investor base grew. Word of mouth spread. People started to call me. Instead of me just emailing my friends and family, people started to call me or email me. That’s really how city side capital was born.

 

Tim Lyons: 10:27

That’s awesome Tim. can you fast forward real quick? Where are you guys at today? Maybe how much have you raised? and yeah, all that.

 

Lee Yoder: 10:32

So I probably should know how much we raised, but it’s probably just under 20 million in the last, say, two and a half years, three years maybe, and we’ve partnered on about a billion and a half of commercial real estate, mostly multifamily, a lot of Sunbelt but a little bit in the Midwest and along the East coast and the Carolina and stuff like that. So that’s the majority of our portfolio. Then we have a partner that does self storage the 17th largest self storage provider in the country And then we have another partner that does industrial triple net lease opportunities.

 

Tim Lyons: 11:03

And Tim, your brother, works with you full time as well, and I guess you’re not full time, but is he in the business with you as well? He?

 

Lee Yoder: 11:08

is in the business. Yeah, he lives down Charlottesville, virginia, so we both we have a teleconference multiple times per day. But yeah, so he’s my partner in city side capital. And actually, just to stack on top, we are registered representatives of a broker dealer that does nothing but commercial offerings, commercial real estate offerings, And I can dive into that if you’re listening.

 

Tim Lyons: 11:26

Yeah, definitely we’re interested in that piece of it, tim, because I would love to talk to you more about just capital raising in general, where you were before you got into real estate, tim, imagine that’s a lot of people that you’re talking to. That’s where they’re at, where real estate’s risky. I know, yeah, you’re a great uncle, johnny lost some money on a flip And yeah, man, come on, i just put my money in my 401k. That’s what everybody does at work. Stock market always goes up, right, you know, until last year, until great other things, but everything else is too risky. I’ll just do this. I assume they’re kind of where you are, tim, so let’s jump into that a little bit. How have you? guys have obviously gotten past that. You raised almost $20 million. That’s incredible, tim, in three years. So congratulations. Just tell us a little bit about the journey that you take people through, when they haven’t heard maybe they haven’t heard about real estate investing, but they think it’s risky and you give them a point where they’re ready to deploy $50,000 into a real estate deal, maybe states away and they don’t have control over it.

 

Lee Yoder: 12:15

Well, you know what Social media and the internet, i think, has unlocked a lot of opportunities for people over the last decade or so. Right In 2012, with the Jobs Act from Obama, the Obama administration, there was a clear divergence between the haves and the haves, nots and maybe some real estate type of private equity deals. So there was something called a 506B offering that you had to have a substantive relationship with the sponsor of a deal to be able to know about it right. So a lot of those deals were kind of kept to the golf clubs, the country clubs, the boat clubs, whatever, and if you didn’t know someone doing it, you didn’t hear about it. In 2012, there was a 506C option that was kind of introduced in that Jobs Act and that allowed for marketing these types of deals to accredited investors only. But people started to say, whoa, you know what is this And I’ve never heard of that. My financial advisor never told me about a regulation D506C offering. You know, in real estate I can get paid monthly or quarterly income and I can potentially have tax advantages and all these deals right. So basically because of that we exist today, because people have money to deploy. They wanted, they know that they should be in real estate, or they desire to be in real estate but they don’t know how to get started. They don’t know necessarily want to be an active landlord, right? And then unfortunately, passive investing or making money while you sleep that doesn’t really sell too well. That sounds like a scam or burning made off Ponzi scheme, right? So an incredible amount of what I do is educating investors, like you said, right? So? by podcast or videos or speaking on stages, writing articles, doing talks on webinars, i mean like I’m done so much to get myself out there, but to really teach people that there’s a different, there’s an alternative to the stock market, there’s an alternative to vanguard, to fidelity. Not taking anything away from that, but when you start to think about it, how many people do you know that have become quote unquote financially free by investing in mutual funds? Or if you have a financial advisor, is he truly financially free? I mean, if he stopped working tomorrow, he or she stopped working tomorrow, do they have passive income coming in from these mutual funds or ETFs or stocks that can truly support them? And I started to think, not, right. So that’s really where we came in, and it’s through the education piece that we’ve really grown the most.

 

Tim Lyons: 14:21

Yeah, i would love to dig into that. Tim, what are some things you’re educating, like maybe one of the top two or three fears that investors have or kind of pushbacks initially, and then what are the two or three things that you’re educating them on to maybe get them past those fears?

 

Lee Yoder: 14:34

Yeah, the first thing is process right. How does what I do work? right? So I take them through a lifecycle of a deal. I always use like a five year time horizon. Invests, say, 50,000 in a deal, we use that to buy, along with a lot of other people, to buy this big piece of real estate. We run it, we have cash flow from operations that you get monthly or quarterly And then say in five years, right after we implement the business plan, we upgrade the units, we increase the rents, we modify some of the expenses And now we’re at the point where we can sell this for a profit. Well, guess what? Here’s how it gets unwound, right, we catch up any money that we owe you from what’s called a preferred return structure. Then we give you your original capital back, and that blows people’s minds. So like, wait a minute, you’re going to give me my original capital back, like the golden goose isn’t killed, right? And then we give you the appreciation on top right, and all during that you are given tax benefits in the form of a K1 tax document at the end of the year. That everybody’s different right With their tax stuff. This is not a tax podcast, but you can use the something called the passive income rules in the IRS guide. They allow for different levels of tax deduction, so I kind of tell them about that, but it’s really process driven right. What does it look like for you to work with a company like us? And that really alleviates a lot of people’s fears And they want to know about track records, they want to know about markets They want to know about. But so good, how come I haven’t heard about it before? And so that’s really kind of where I spend a lot of my time talking to people.

 

Tim Lyons: 15:55

So you get them about that, tim. Maybe what are some other fears that they have? Like, okay, i think I understand the process, but you know what else is there. And then how do you educate them to get the best at?

 

Lee Yoder: 16:03

Yeah, i’d say. The second thing, lee, is liquidity. Right, they go well can I just buy a REIT through Fidelity or Vanguard? You know I’ll just real estate through that. So then I have to tell them you know what the difference between a private placement is and the difference between a REIT, how income is treated, how you don’t get appreciation, how, yes, it’s liquid that you can buy and sell in the open market And what we do is illiquid right during the whole period. But it’s really kind of comparing and contrasting both of those different types of investment vehicles and which one is more aligned for what their goals are. If your goal is to have instant liquidity, then what we do is probably not for you. So I would say the process is a big hurdle. The liquidity piece is another hurdle And then it’s really becoming clear on what kind of asset class means the most to you. Like, what do you align with more? Like for us at CitySide Capital, 90% of our business is multifamily, because we just realize that people need food, clothing and a place to live. Right At the end of the day, those are like the biggest pieces of everybody’s lives.

 

Tim Lyons: 16:57

So Tim, yeah, so really you’re talking about a lack of liquidity, but you mentioned a couple of things that I want to hit on a little bit more. So you mentioned that with a REIT. so if people don’t know what that is, basically Some of that Q-tim is doing tons and tons of deals and you practice them all together and you’re on the stock market. Someone can buy into your company now just right through the stock market. You said you don’t get appreciation. Explain that a little bit.

 

Lee Yoder: 17:16

So when you buy a share of a real estate investment trust, a REIT right, the way that that’s drawn up as an investment vehicle is they need to return the operator of that REIT. It needs to return 90% of the cash flow back to investors. So there’s an instant 90-10 split 90% of the cash flow goes to investors, 10% is retained by the operator. But that’s when it’s paid out. It’s paid out in what’s called a dividend. So that’s dividend income which is treated differently than passive income from real estate. So basically, you have active income from your W-2. That’s one bucket. Then you have passive income from things like real estate, investing with a direct real estate, like things that I do, and then you can have dividend or what’s called portfolio income, and they’re all taxed a little differently. They’re treated by the IRS a little differently, but the passive income is treated the best because you can take what’s called depreciation losses against passive income up to a certain amount of money. But you don’t get those pass-through deductions from a REIT like you do in a deal like what Lee does. So, yes, you can sell it on the open market. You can buy and sell, but, for example, like there’s a big group I don’t want to say their name on the podcast, right, but a big Wall Street company that owns billions and billions of dollars of real estate, and they just walked away from a commercial office portfolio in the hundreds of millions of dollars because people were trying to redeem their shares of their REIT at a blistering pace and they couldn’t sell enough assets to satisfy the demand. So they gated down their investors’ ability to withdraw these funds, which they’re allowed to do. So there’s also, i mean, i always talk about, yes, what I do is maybe a little bit more illiquid, right, but I would argue that sometimes that’s a good thing, right In times of fear you don’t have that instant ability just to sell, to become liquid. Because, listen, at the end of the day, whenever I’ve spoken to anybody who’s wildly successful in real estate and I ask them, if you had to do it all again, what would you do? And, without fail, the answer every single time is I wish I would have bought more, especially when there was fear out there.

 

Tim Lyons: 19:21

Yeah. And then they probably say I wish I wouldn’t have sold too, don’t they I?

 

Lee Yoder: 19:24

wish I wouldn’t have sold.

 

Tim Lyons: 19:25

You just hold man your whole long term. That’s what you’re talking about. And, yeah, that is the benefit of the illiquidity, is that not? yes, you can’t sell, but neither can the other guys that are in the deal. The REITs are down big right, and there’s some really scary examples of some REITs that are not just down in the stock valuation, but they’re really struggling. There’s some scary stuff going on, but because anybody else can get out whenever they want it’s just like all the other stocks they can go down tomorrow a lot, and so the property that you owned it doesn’t Not. Nobody can get out, so we’re all in it together. I just think you really get paid for that illiquidity. And the other thing, the appreciation to him, with the REIT, when they sell a property, they’re not sending you a big bonus. Check, right, it’s that dividend that they told you you’re going to get. It’s nice and steady. But what you’re talking about is you go to sell something or even refinance something and you can suddenly, hey, you’ve been getting this dividend, but now we get this big bonus on top of it. And then what you were talking about, tim, like you can really blow people away that this is never going to happen, reit? that’s like, hey, you’re going to keep you in payoffs.

 

Lee Yoder: 20:18

But we’re going to send you your money back.

 

Tim Lyons: 20:20

That would never happen. But when you refinance with an apartment building, that can happen. I think that’s the most amazing thing. You buy an apartment building, hold it for five years, pay down up debt. There’s enough appreciation, you refinance and that cash out. Refinance allows you to get your investors’ money back, but they stay in the deal when you actually still own part of that deal and you still collect. You know if you want to call it a dividend, it could never happen with REIT. So I’m with you there, tim. I think we keep talking about some of the benefits.

 

Lee Yoder: 20:42

And I want to stack on top of that refinance. I mean, that doesn’t always happen. when it does, it’s a tax-free liquidity event with the investor, because as an investor, you’re not taxed on debt, right, so it’s a win-win. And then you still maintain your basis in the deal, so you still keep capturing that cash flow And I would argue, hold it forever, right. I mean, if you have it, it returns, so yeah.

 

Tim Lyons: 21:02

Do anything else that you would go just as education-wise. Any of the big points that usually hit with maybe newer investors to the real estate space.

 

Lee Yoder: 21:08

Yeah. So I mean I really talk about the conveyor belt. I don’t know if you’ve heard of the conveyor belt, right, like if you’re thinking about it’s, say you have a liquidity event or you’re just a high earner and you’re looking to deploy capital, like what if you can visualize with me for a second and you put $50,000 into one deal each year for five years, right? So year one right, that slides down the conveyor belt. And year two you put another $50,000 on the conveyor belt. Now both of those deals slide down. Year three, year four, year five, so now you have five deals on the conveyor belt, each one having $50,000 in value. You’re collecting cash flow now on all five of those deals. At the end of the fifth year, say, the first one you put on that conveyor belt now falls off right, it goes, it sells. Now you get your original 50 back. You get, hopefully, some good appreciation check on top of that. But now you’re playing with house money, right? You can put that $50,000 original plus the appreciation in year six, now Right. And now you can just re-keep on recycling that money. So when you tease that out and you can use all different assumptions, right. But if you keep it really simple, like you can really get started with building cash flow over that five years And then, when you have that appreciation, i’m putting it back into another deal in year six and seven and eight. Now you can really be recycling money, or what’s called the velocity of money. And who knows, maybe you have some refinances in that period and you could really supercharge, because I would argue, my idea of wealth used to be having a certain amount of money in a certain account, right A number.

 

Tim Lyons: 22:38

You’re hitting a number.

 

Lee Yoder: 22:39

Yep, i’m hitting a number right. And now I’d argue that it’s having my income on a monthly basis to sustain my monthly obligations right.

 

Tim Lyons: 22:48

Yeah.

 

Lee Yoder: 22:48

I love it. Right, And we haven’t even talked about like, if you’re with Lee and Lee, if you have a deal that exists in year five but then you have another deal right behind that, you can do a 1031 as a passive investor, right, and then you don’t pay any or you suspend your capital gain. Now you can really supercharge putting that money into another deal. So I mean, look, there’s so many ways to do real estate, there’s so many options, there’s so many asset classes. This is what I’m passionate about. So I start off. I really meet people where they are. If they’re brand new. I got to keep it real simple, right. If they’ve done some real estate or they’ve done some education, we can really dive into a little bit more of like taxes or different types of stuff, but that’s the exciting part. Yeah, i didn’t invent all this stuff. Right, But it’s really not like we’re recreating the wheel here.

 

Tim Lyons: 23:31

Right. So, tim, i was like that’s my guess here as we wrap up. What would you say is a key ingredient for being a successful real estate investor? Let’s apply that to like someone that comes to you and they’re like all right, tim, i want to talk about all this stuff, but I don’t know if I’m a good fit for this, let’s. maybe some of you would say, hey, if you’ve got this characteristic, you’ve got this ingredient, you are going to be a good fit for maybe a passive investment in a real estate syndication.

 

Lee Yoder: 23:51

Right, you have to be willing to abide by the equation that I use all the time. It’s education times, action. Right, no one’s going to do this for you, no one’s going to put the white gloves on. Nothing is as easy as it’s sold as being right. But if you’re educated by reading books, listening to podcasts like yours, just doing your own due diligence and whatever that means to you, and then taking action after that, right, because if we needed a PhD every single time we had to make a decision, we would never get out of our own way, right? So I mean, for me, my personal thing is once I know 80% of something, i’m ready to go right, i’m ready to take that action. So, yeah, it’s just living by that equation.

 

Tim Lyons: 24:27

That’s really good, tim. I like to ask well, what would you say is a key ingredient for you, for others, to maintain your priorities while you’re chasing passive income, while you’re building this real estate portfolio? Obviously, family is important to you. I don’t know if you’re a man of faith, but there’s things outside of real estate that are more important. So I guess what’s a key ingredient to maintain success in those areas that are more important? And, on top of that, having you reclaim your time. You talk at the beginning. You want to reclaim your time. You’ve been in real estate for a little bit now. You’re on your way, reclaiming your time. Have you reclaimed your time? How’s that going with you as far as having success outside of real estate because of your real estate investing?

 

Lee Yoder: 25:00

Yeah, so I mean, once I had the proof of concept of that three family, i say that I retired from being an ER nurse. So before COVID, i said that’s it. I’m going to go all in a real estate And I get to work from home. Now, right, so I’m home, i can drive the kids to school, i pick them up, i’m off the bus with them, I’m doing snack, i’m doing the show foring activities at school and I’m here to do that, right? So the biggest thing is time blocking. I’m very protective of my calendar. I have everything set up in a system for calls and podcasts and everything that I’m doing traveling. It’s all done through my one calendar that runs everything. And there’s times that I’ve actually just carved out just for family time, weekend, sundays. This way I could really maximize on what’s important to me.

 

Tim Lyons: 25:41

So it sounds like it’s going well. You’ve reclaimed a lot of your time.

 

Lee Yoder: 25:44

I have. That’s not to say, though, that I haven’t been on a late night call or an asset. Oh, yeah, yeah.

 

Tim Lyons: 25:50

Well, you’re a whole worker man, I mean you like to chase. You’re not going to be able to get it out of you totally, But it sounds like you’re more in control of it, right, Like you’re deciding. I mean, if you’re on a late night call, maybe your kids in bed already. I mean because I do a lot of those same things up early in the morning, things like that. But, man, that’s great, So happy to hear that And that’s why you’re doing what you do educating others that they can have some of that too. I can tell people all the time, like you don’t need to put your job or retire from one of your jobs, or do this as much as you and I do, tim, but if they invest with somebody like you, they might not have to work quite as much. Or don’t take that next promotion that requires even more time like to stay put, but put your money to work for you. Let your money make that extra, even you know extra 5,000 a year to allow you to take a vacation or two that you want to take, that you thought you need to take that promotion You’ll be able to take or send your kids to private school, right? Just little things like that. It can really be game changing if you put your money to work for yourself. This has been great, tim. What we’ve got here for you is the city side cap. That’s cityside. It’s spelled out C-A-P dot com. Is that the best place for people to go to find out that? see all that education that you guys are putting out there?

 

Lee Yoder: 26:45

Yeah, so just go to citysidecapcom. You can schedule a call. You can see podcasts, videos, free download on the homepage. And, yeah, i’m always available to chat. Even if you’re not ready and you just want to see what’s going on or you want to chat about all things real estate, i’m ready to rock. All right. I hope you guys enjoyed that episode that I recorded with a friend of mine, lee Yoder, on the threefold real estate investing podcast. As always, if you guys want to learn more information about what Greg and I do and passive investing in commercial real estate assets like multi-family self-storage and industrial triple net lease properties, head on over to citysidecapcom, schedule a call with Greg Aray and or you can just leave your contact information and we will reach out to you. Also, we have a free download on our website that goes over some of this stuff at a high level. Feel free to download that And, as always, we are so appreciative and grateful for your ratings and reviews. It really lets us know that people are getting value in hearing what we’re talking about, and we love hearing some of the feedback. So we had a chance. Go over to Spotify, apple podcast or whatever platform you listen to your podcast on, and please leave us that five star rating and review, it’ll be awesome for us to attract a new guest. It helps us rank higher and just get out there into the podcast algorithms. So that’s going to do it for this episode of the passive income brothers podcast. We look forward to serving you again next week. 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.