In this episode, I talk with Rob Beardsley. Rob is a founding partner of Lone Star Capital and a seasoned multifamily investor who has successfully acquired over $350M worth of multifamily properties.
We discuss how Rob went from a college student to multifamily investor and acquiring a 270 unit property as his first deal.
He will share the challenges he had to overcome to get that first deal closed and the current market conditions and outlook over the next 12-18 months.
Whether you’re a seasoned real estate investor or just starting out, this episode is packed with valuable insights that you won’t want to miss.
Don’t forget to like, share, and subscribe to our channel for more inspiring stories and informative content.
Transcript:
00:00
The market today is what I like to say a nobody’s market and it’s been that way for a while. People often argue is it a buyers market? Is it a seller’s market? I really feel like it’s nobody’s market because if you talk to people who are trying to sell a deal, they’re unhappy. And if you talk to people who are trying to buy deals, they’re also unhappy.
Chris Bounds 00:18
In this episode, I talk with Rob Beardsley. Rahm is a founding partner of Lonestar capital and a seasoned multifamily investor who has successfully acquired over $350 million worth of multifamily properties. We discuss how Rob went from a college student to a multifamily investor, how he closed his first deal, a 270 unit property at the age of 21. All the challenges that he had to overcome to get that first deal closed, the current market conditions and future market outlook, and so much more. If you’re a young real estate investor, or you’re looking to get your first multifamily deal done. You’re especially going to enjoy this episode. So let’s get started with the show. How’s it going, Rob?
Rob Beardsley 01:00
Going? Well, thanks for having me on the show.
Chris Bounds 01:02
Absolutely. Thanks for coming on. I look at sharp you actually might be the sharpest dressed guest I’ve ever had in this show.
Rob Beardsley 01:09
Beautiful. Yeah. Which
Chris Bounds 01:11
you’re in the New York market. Right? Yes. Okay. So very fitting New York City. Yep. Downtown. Yeah. Okay. So makes make sense. To you’re in the multifamily space. And we had we had a chance to get together for dinner a few weeks back when you’re in Houston. And how old are you? 2626. All right. Pretty, pretty young, ambitious. And you’ve done quite a bit in a few short years. So how did you find yourself in the multifamily space.
Rob Beardsley 01:47
I grew up in a real estate family, my parents ran a residential brokerage firm back in California. So I was exposed to the real estate business. They also did some construction and some flips on single family homes. And I went to school for computer science thinking I would maybe get into tech, but eventually circled my way back to real estate, the best business in the world. And I discovered multifamily just online through research, bigger pockets, podcasts, YouTube videos, and I really felt that multifamily was a fantastic business model. So I just kind of took it one step at a time. During the mentorship group. I tried to get my parents more involved, and they were just too busy with their main brokerage business to go all in. So I was fortunate enough to meet my business partner, and we were able to form Lonestar capital together to focus on Texas Workforce Housing.
Chris Bounds 02:48
Nice, nice. So you computer science, which I actually wanted to do that. In high school, that’s why I thought I was gonna go go and be a computer scientist and build apps and all that. So was it you just like going through those motions? And were like, Man, I really don’t want to do this. Or was it? Hey, this is cool. This is fun. But hey, this is cool, too. Let me try it. And now I like this better.
Rob Beardsley 03:14
Yeah, well, I really enjoyed school, and I really enjoyed my studies and computer science and all that stuff. But when I had this opportunity to start this multifamily business and go out and do deals, it was it was very compelling. And I just felt that it was the most optimal route for me to take to build a successful business. And I’ve always been entrepreneurial minded. So taking that leap of faith and dropping out of college didn’t seem like the biggest risks to me, because I felt like if I failed, I could always go back to school. And there would always be other opportunities for me, but there was no reason to, to pass up the opportunity to add at the time, which it turned out to be to be true. And the experience that I gained in those early years was worth 10 times the amount of education.
Chris Bounds 04:13
Now, what was that opportunity and actual multifamily deal? Or was it just your your exploring, just starting your business?
Rob Beardsley 04:22
Both? I mean, both. I mean, we were obviously looking to do deals and we were hunting and talking to brokers and lenders and familiarizing ourselves with the business and property management and talking to investors and just immersing ourselves in the business model. And, you know, before you know it, we had put our first deal under contract and then it was full speed ahead.
Chris Bounds 04:45
How many units was that first deal?
Rob Beardsley 04:47
It was 260 units,
Chris Bounds 04:49
26 units and how old were you at the time?
Rob Beardsley 04:52
I was 21.
Chris Bounds 04:53
That’s awesome. And we’ll get back to that. Let’s go back to the dropping out of college. So Have you had to tell your parents at some point? How did they How did they take that?
Rob Beardsley 05:05
They were pretty understanding, I would say, considering the considering the circumstances. The My parents have always been really supportive and everything that I’ve done, which has been a huge, huge benefit to my life. And so walking them through the, the pros and cons. And, you know, telling them that my advisor was essentially advising me on this course of action. It was, I didn’t get a lot of pushback, I did, however, basically have to deal with the reality of okay, you’re currently a college kid who is lucky enough to have his life and expenses covered.
And you get to just have the low stress life of the only thing that matters are grades and homework and tests. And I wish things are pretty simple, then, pretty simple. Yeah, too. All right. If you’re going to drop out, well, then your life is not covered, you’re on your own, that’s your decision. And so yours really go to real life, you’re gonna go from a cushy life to, to the real life much faster. So there is some, my dad always I mean, he certainly pushed my sister and I to work hard and be successful. But he also recognized that there was always more time to be an adult in the future.
And so he didn’t necessarily rush us to become adults, per se. But I’ve always been very mature and always enjoyed looking forward to the next step. So for me, giving up that, you know, Kid college life and experience, you know, I didn’t go to a single college party at my university, I was either immersed in studies, or I was working on building this business. And then I left school. And so I didn’t mind kind of getting to the next phase. It’s always just been following my passions and my drive.
Chris Bounds 07:01
Yeah, I love it. I mean, I thought I was unique when I did four deals, in college. And back in 2004 2005, that definitely was here, you already got 270. Alright, so how do you how did you really take that deal down? How did you find the deal? How did you take it down? Because it’s, it’s one thing to buy a single family house, which there’s a lot of resources where even someone inexperienced without a lot of liquidity can take that down. It’s a totally different ballgame to do 207 units. There’s, there’s a, there’s more to it. So walk us through that.
Rob Beardsley 07:42
Yeah. So as you can imagine, there was a lot that we didn’t know. And so we were naive enough and had the confidence to just put the deal under contract and take it from there. Right, take it as it comes. And so we fast tracked ourselves to learning all about debt, and realizing that, oh, you need to have certain net worth and liquidity requirements, which we don’t have. So we’re going to need a loan guarantor. Okay, well, how do we find a loan, guarantor?
What’s it going to cost to bring them into the deal? What are the nuances there. And then on the equity side, we had really had that by far the hardest time on the equity, because both my business partner and I fell into the trap of believing that if you find a good deal, the money will come. And that simply is not true. Because even though we had a great deal, we didn’t have a track record, we didn’t have relationships. So that made it really, really difficult to raise equity.
And so we spent the majority of our time trying to find partners, finding investors do whatever we could to close the deal from an equity perspective. So that was the biggest struggle and somewhat of a wake up call, and in a very, very stressful situation. And the interesting thing is, is raising equity on its own is is very difficult. And even for us today, it’s still a lot of work even though that you know, the numbers have grown exponentially, and we’ve so many more relationships, but it is still challenging, but on on your first deal, it’s even more difficult.
And then we compounded that problem by not having everything else in place, right. Like I mentioned, we didn’t have the loan guarantor situation sorted out, we didn’t. We were kind of bouncing around between different property managers, so everything was so disorganized, which is exactly what you don’t want going on in an escrow because time is of the essence, right? You have the luxury of time when you’re out of contract. Once you’re in contract Time moves very quickly, and you want to have as few outstanding items and variables as possible. So those were some of the big mistakes that we made just because we didn’t know any better yet.
Chris Bounds 09:55
I don’t know why it just flashed me is it’s almost like, like Florida that rings or whatever. I’m not a huge Lord of the Rings. Fan but but I’ve seen I’ve seen the movies and like, you’re on this journey where like you’re just going to take on the world. But now there’s all these challenges coming at you just trying to crush you along the way and just figuring it out as is as you get along to accomplish the mission. Let’s start with the earnest money because earnest money for single family house, most of them I can buy no earnest money in almost all the 200 flips that we’ve done, probably didn’t put any earnest money down a little different for multifamily. Did did you raise that? Did you bring a partner in for that? Or did you have the cash on hand? Because tuners haven’t unions? It’s, it’s a sizable amount.
Rob Beardsley 10:43
No, yeah, for sure. So that’s, that’s another good point that I forgot to mention. Yeah, earnest money is another element of the deal that you need to have organized and taken care of so. So as fortunately, we were able to borrow money from family members with a personal guarantee in order to put the money down on earnest. So essentially, we were out risking money that we didn’t have to close a deal that we needed to go raise capital for.
So really, we put our backs against the wall and took a lot of risk. And looking back on it, you kind of look at and go, Wow, that was a lot of risk that we took. But I think it’s really valuable to have those moments in your experience in your career, because it really forces you to grow the most and the fastest and the fastest, right? If you are working out in the gym, without a trainer, you’re not going to work as hard if you have someone pushing you.
And in this case, we had money pushing us and the risk of losing money and the risk of you know, really tarnishing our reputation before we even got our business off the ground. So really, there was no chance of failure, we couldn’t not let ourselves fail. And so putting ourselves in situations like that, where you know, failure is not an option, essentially, I think is actually a really great way to get where you want to go faster.
Chris Bounds 12:05
So I’m alright you borrow the money for family for the EM didn’t know you’re trying to raise you get a loan, look for a loan guarantor partner, did you bring on an operating partner as well, to solve that problem for the equity investors.
Rob Beardsley 12:26
So we, in the end, partnered with a group that signed on loan to satisfy those requirements, as well as brought the management company to the table and the operating expertise. So I think that’s a very smart way to go is obviously bringing partners in to rely on other people’s assets such as their track record, or their experience or their infrastructure, their team for the execution of the business plan. And yeah, so that’s, that’s what we did. And it was a very rough experience. And the problem with what we did was we scrambled, and we didn’t find this partner, when we weren’t under contract, when we had the luxury of time.
Instead, we scrambled and had to find somebody last minute. And that meant that there was a higher chance of us not being with the right partner. And in the end, we were not with the right partner in that case. And so we had to make moves after closing to change partnership and move on. And this experience actually pushed us in the direction of vertically integrating and bring property management in house on a much quicker timeline than what most firms on that track do. So we actually brought property management in house two years ago now. And it’s just been a fantastic experience. And we really are grateful for the business that we’re building and that we have more control and transparency in our organization.
Chris Bounds 14:00
You almost have to if you’re going to be had any reasonable density within a marketplace. It just makes sense. I mean, if you’re spread out, across multiple markets, maybe not. But that makes sense. Now that we’re in the beginning, did it come across your mind to hey, we could bring on a partner, but maybe let’s not and let’s do it ourselves. So well, you know, you know, protecting your equity, protecting your your abortion. That was it. Was that a debate? And then you figured out later on, hey, we really need to bring someone else on to solve this experience problem. You know, how did that? How did you see that from the very beginning versus what actually happened?
Rob Beardsley 14:48
Yeah, I think you’re absolutely right. We were ambitious and wanted to do as much as we could on our own. But with that being said, I did have this belief If in my mind that I held on to as we went through the process, which is, it doesn’t matter how many pieces of the deal we have to give away, it doesn’t matter in the end how much money we make from this deal, the important part is getting the first one done. And keeping that in mind kind of kept us sane, as we were bringing on partners and you know, getting negotiated against ourselves and having to give up more of the pie than we wanted to. But in the end, like I said, we stayed the course because we knew that the bigger picture was what was important.
Chris Bounds 15:35
Yeah. I think the last part is very true. It’s not so much that it doesn’t matter is it doesn’t matter. I mean, there’s there’s money at stake. And but there’s other things at stake. And that’s what the more important part is that you got to I went through the same thing, like when my wife and I bought our first multifamily is a small 29 unit. And it was our I had done four deals in college. Fast forward time, now we’re buying houses. So this is together between the two of us, this is our fourth fourth deal. And we both had jobs baby on the way. And I think this five to half a million dollar hard money loan to buy this dilapidated 29 unit, and there’s gonna be this monstrous project management that I was gonna have to deal with, along with a full time job and all this stuff.
And but I went long gunden Because I could do it. But I think you can relate to this is I didn’t know what I didn’t know. And long story short, I went to go refi and all the due diligence I did didn’t matter because they were like, Okay, well, yeah, you don’t have you don’t have experience with multifamily. So love your single family experience, no walls payment experience. Sorry, couldn’t refi and long story short, we sold it made a good profit. But it was a fraction of what we could have made. If we brought on a partner. And being greedy, ended up costing costing me money. And the cherry on top of this is the hard money lender, I’m friends with it the very end. I told him, I told him all the backend stuff. He knew it was going on. But I told him the backend stuff and he goes out, she does ask me how to partner with you. I’m like, so
Rob Beardsley 17:21
that’s good. So
Chris Bounds 17:22
you know, you got your first deal under the belt and you realize like this huge thing that you were able to overcome all these challenges that you didn’t foresee? Or maybe thought about, but it was necessary to take on partners winner, but you got this first deal done. Looking back, if you could go back. And actually, if you could give a syndicator right now or aspiring multifamily investor looking to get in? How would you suggest they approach that first deal?
Rob Beardsley 17:51
Yeah, there’s so much advice that I would love to give. And so based on my experience, what I would advise is to put in as much lay as much groundwork as you can before you’re actually under contract and staring down that first deal. Because there’s no reason why you can’t line up your loan guarantor, before you’ve identified an opportunity. Alright, by the time you’ve identified a deal, it’s too late to find a loan guarantor, it takes time to build relationships and build trust.
And that is really, really valuable, because that will allow you to focus on other things, primarily raising equity while you’re under contract, rather than scrambling for a loan, guarantor. So that’s one of the things I’d have lined up I’d make sure to have your earnest money lined up your loan guarantor lined up, your property management team lined up, whether you’re going to use a third party or partner with a co sponsor, or something like that, you really want to have everything lined up to minimize the amount of variables went once under contract.
Chris Bounds 18:57
So um, right now, what what asset class and strategy are you’re primarily using in multifamily.
Rob Beardsley 19:05
So today, our company is exclusively focused on Dallas and Houston, workforce housing, which we define as deals built in kind of the 80s to the 2000s and are in need of some sort of value add, whether it be improved management, renovations to the interiors to raise rents, and cleaning up deferred maintenance. So that’s our that’s our bread and butter deal. Whether it be like I said in Dallas or Houston, and then more recently, we’ve been also focusing on an affordable housing strategy, which is very unique and interesting that I like a lot given the current uncertain market conditions where it may not make sense economically or risk wise to be buying assets and trying to push rents even further. Because, you know, affordability is tight. And if we do go into a recession that’s going to Just be even harder for residents be able to afford rental premiums. So I do feel like a defensive strategy where the focus is on preserving affordability, rather than pushing rents is really a good fit in today’s environment.
Chris Bounds 20:12
Yeah. And I think that that has a small component to the current, like the faculty do you’re working on right now? Because it’s in a program to where there’s tax deferred, or it’s tax exempt for having affordable housing units are part of the community, right?
Rob Beardsley 20:33
That’s right. Yeah. And the affordable world is so interesting. And I think we’re going to go even further into it as we build our experience. And I think our team is really well suited for the affordable housing world, because it is more complicated. It’s more nuanced, there’s, but it takes time to build relationships. But once you kind of get into the affordable housing space, you see people, once they get in, they never leave. And they, they make a lot of money. It’s a very lucrative space. So we want to only grow our experience, and there’s so many different programs to be familiar with. And it’s different in every market. So it’s a fascinating space. And like I said, I think our team is well suited, just given our expertise. My business partner is a tax attorney. We’re quite sophisticated. So I think we are well suited for it.
Chris Bounds 21:23
Okay. And is that the primary way you’re looking to mitigate risk going forward? Or is there some other other things you’re looking looking to do?
Rob Beardsley 21:32
Well, generally speaking, we are focused, at least for now, exclusively on long term fixed rate debt, which is really, in my opinion, the best way to mitigate risk. There, there is some controversy surrounding that strategy, because a lot of people are calling for using floating rate debt today to hopefully, hopefully benefit from rates drifting lower in the future, which I don’t disagree that that’s definitely a viable strategy. But the certainty of your cash flow is just worth so much, even if in the end, you end up paying a little more interest for that certainty, because of the timing with which you lock in your interest rate, right? It’s, you’re gonna over the cycle, you might have a fixed interest rate at a higher rate, and then other deals at a lower rate. It’ll all work out over time, if you’re just consistently investing for the long term,
Chris Bounds 22:25
is that fixed over a five or 10 year period are you fixing for for longer, because there’s like, for those that don’t know, in single family, fixed rate, you sell, I mean, 30 year fixed, and you sell in five years, no big deal, you get a payoff quote. Typically, unless it’s a commercial, you know, like a non QM type of loan, if it’s if it’s conventional, there’s, there’s really no fees to that, typically. But commercial different ballgame. Like you said, you want a 30 year fixed, they’re gonna hold you to that. And there’s gonna be a lot of penalties and defeasance. And, and one, so how are you baking that in the pie? And yeah, kind of kind of want to walk me through that.
Rob Beardsley 23:12
Yeah. So right now, the strategy is to do seven year loans, with a five year yield maintenance period. And that gives us, in our opinion, the optimal long term conservative loan, coupled with flexibility. So if you have to sell
Chris Bounds 23:31
if an opportunity to sell sooner works out, it’s not that big of a hit. But if you need a hold on, you’ve got the surety of what your debt cost is,
Rob Beardsley 23:45
right? And the full seven years is quite a long time to ride out a potential downturn or something like that. And then, you know, given the five year yield maintenance, if we sell in five years, which is our typical pro forma, we would pay no penalty to exit, which is really nice.
Chris Bounds 24:04
Yeah. Okay. How do you how do you see the market playing out over the next 1218 months? How’s it now? I mean, how is it now? I’m sure you’re putting out a lot of offers, and you’re talking with a lot of brokers. So what’s the sentiment now? And how do you see that changing or evolving over the next 1218 months?
Rob Beardsley 24:24
So the market today is what I like to say, a nobody’s market. And it’s been that way for a while, people often argue, is it a buyers market? Is it a seller’s market, I really feel like it’s nobody’s market. Because if you talk to people who are trying to sell a deal, they’re unhappy. And if you talk to people who are trying to buy deals, they’re also unhappy. And essentially what we have is a very wide bid to ask gap in the market not which was resulting in very few deals actually getting done because generally speaking, you have sellers with pricing expectations up here and buyers with pricing expectations down here if he was gonna blink. Yeah, so and that’s exactly right.
And that that pricing adjustment process doesn’t happen overnight, just because interest rates have gone up and the market has changed, cap rates have gone up. That doesn’t mean sellers are willing to recognize a change in the value of their asset or even a loss overnight, it’s going to take a lot of time for sellers to capitulate, and maybe become for sellers due to their debt structure, or due to their declining operations potentially.
So I do think over the next, certainly over the next 12 months, we’re going to see a resolution to this, nobody’s market, and the bid to ask gap will tighten enough to the point where we’re gonna see a decent resumption of transaction volume. Because right now, there’s, there’s not many deals getting done. And that’s not fun for anyone. So I’m optimistic that towards the end of 2023, we’ll really see that gap being bridge,
Chris Bounds 25:57
do you think most of that is going to come from operators under bridge and or floating rate debt?
Rob Beardsley 26:06
Yeah, I think that’s going to be a driver for sure.
Chris Bounds 26:10
If at the end of the day, if interest rates are at a point where you can, if you’re in Bridge, and you can’t refinance, it, you can’t meet the debt coverage ratios to refinance, put you in a bind, either gotta raise more money, do a capital call, or you gotta sell. But there’s also folks that may have longer term loans that are floating rates, and that, that that puts pressure on them.
Rob Beardsley 26:39
Yeah, and I think it takes a long time for an owner, and in particular sponsor, to want to get to that to get to that point where they are, essentially, fire selling or selling. Not necessarily at a loss, but just not meeting their business plan, especially for a sponsor, it’s to their benefit to do whatever they can to extend the loan, or make a capital call as negative as a capital call is, it’s better than selling for a loss. So for those that are sitting on the sidelines, hoping and waiting for all these distressed deals, to come to the market, and be able to pick off buyers who are distressed, I don’t I don’t really think it’s going to happen. I think there’s a lot of liquidity out there.
And there’s a lot of time as well. And so the gaps in the capital structure can be bridged through preferred equity through capital calls through third party, you know, rescue capital of sorts. So, rather than a bunch of people flooding the market, selling deals at a discount, I think there’s going to be a lot of restructuring plays and things like that. And then, after a while, a couple years of people trying these certain restructurings and buying more time, then eventually someone may capitulate and say, All right, we’ve tried everything, we just need to sell, we’ll break even or we’ll take a loss, what have you. And that’s, that’s what I think may occur in the next couple years.
Chris Bounds 28:08
Yeah, there’s another scenario too. And it’s the writing maybe on the wall, but either due to inexperience or blinders, they’re not quite seeing it. And as, as things play out, eventually, it’s the head in the sand kind of scenario. I mean, I saw that in the single family space, wasn’t falling off him at all in the crash, like the oh eight, in the years following that, but I imagine it’s just human psychology at some point that may happen, probably very rare occasion, hopefully, but especially for their investors. But now, on the other side of it, you also have investors that they’ve locked in seven years at 3%. So do they need to sell now, even though their business plan might have them? Maybe, maybe not, it really depends on what their investor base is. But they definitely have more flexibility to ride out uncertainty to see what happens over the next year or so and see if rates drop. So yeah, it’s gonna be interesting.
Rob Beardsley 29:17
Yeah, that’s the magic of long term fixed rate debt. There’s a lot of people that have done that and are sitting pretty, and they’re able to sleep well at night. And that is a very beautiful thing.
Chris Bounds 29:29
Love it. Love it. There are a couple questions I asked every guest on the show. So I’m going to start here, kind of kind of closing out. If you could give advice. We may have already covered this one. And feel free to backtrack the age here, but if you can give advice to your 20 year old self, what would that be? I don’t know. Maybe you want to back it up to 15. I’ll let you answer the question how you will?
Rob Beardsley 29:51
Yeah, no, it’s always a good question to think about. I would say so for me to kind of stay on topic. I would say I was a bit late to the game, which, obviously, it’s all relative, but I was I had limiting beliefs and, and blind spots related to marketing, sales and raising equity. So I kind of grew up with this notion that that marketing was gimmicky and that sales was a bad practice or, you know, or or like salesy was a bad thing, right. So because I had those beliefs, I really didn’t like sales and marketing. And I didn’t think that it was important.
And I’d like I told you, I subscribed to the myth that if you find a good deal, the money will come. So I told myself, alright, well, I’ll just focus all my time on finding good deals, and then the money will magically appear. So I would definitely tell my 20 year old self to go all in to the contrary, all in on building a brand, doing thought leadership, and establishing investor relationships as early as possible. Because it, it’s it takes a lot of time to build up those relationships in this business. You know, you don’t, you can’t build that overnight. So starting as early as possible is hugely beneficial.
Chris Bounds 31:20
Well, what book or books have greatly influenced your life?
Rob Beardsley 31:26
Well, to take it in a different direction, the power of now is a really interesting book that was very important to me, because it kind of opened the door to my path of meditation and being present to the moment. And yeah, it was a it was very transformational, in my own, in my own way. So something that we could talk about, maybe on another time, another time, but yeah, the power of now is really cool, kind of, you know, self help woowoo book that is not at all to do with business.
So that’s a great one. And then, business wise. I really like getting more by Professor Stuart diamond. We actually had professors George diamond come and give a half day negotiation workshop at one of our events a couple years ago. So that was really amazing, given the fact that I’d read his book so many times, but spending time to learn the skills of negotiation, and similarly, disabusing yourself of the myth, that negotiation is this, you know, me versus you adversarial thing is really helpful because it doesn’t have to be that way. It’s actually about how we can all get more.
Chris Bounds 32:43
Yeah, love it. No, those are two new books. And I had the opportunity to go to a class with Chris Voss. It was a two day workshop and on negotiation too, so yeah, it’s, it’s incredible. It’s a skill that really definitely impacts your business life if you’re in business, but you can use it anywhere. In the last five years, what new belief behavior or habit has most improved your life?
Rob Beardsley 33:08
Journaling, writing down gratitude, writing down my goals, and really spending the time to brainstorm ideas, strategies and how to achieve my goals. And and then also correlating those those goals, to daily habits and daily routines and tasks that need to be accomplished in the here and now. So many people. I mean, if you’re listening to this podcast, you’re already probably more of a successful person and more results oriented, you probably already have goals. But there’s so many people out there that don’t even have goals, they don’t really know what they want. And the power of getting really specific with what you want and your goals and setting quantifiable time oriented goals already puts you on a fast track to achieving them, because it will just get your brain thinking about how to get there
Chris Bounds 34:02
and writing them down as a compounding effect on on the result of or the ability to actually achieve them.
Rob Beardsley 34:09
Yes, love that. How can people reach out to you? You can find out more about us at Lone Star capital on our website LSC r e.com. You can also connect with me and shoot me a message on LinkedIn. I post daily videos and posts on LinkedIn. So feel free to connect with me there as well. Thanks
Chris Bounds 34:28
for tuning in. If you got any value out of this at all, please like comment, subscribe, follow and love to hear from you. And for more real estate related content, market observations, upcoming events, you can go to invested x.com And subscribe to our weekly newsletter a promise you won’t regret it. Thanks again.