Transition to Multi-Family from Single Family

Mike: [00:00:00] Hey everybody. Welcome back to the show. Really excited to have my friend Sean Thompson on today. Uh, we’ve run into the, for a long time, probably 10 or 12 years. He’s transitioned from single family at a multi-family and I have to he’s way more active. I’m a, I’m a little more passive, but today we’re going to talk all about kind of the transition from being a single family investor into multi-family investing.

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And builds more fulfilling lives for all of those around us on today’s show, we’re going to continue our conversations, fueling our businesses and our lives. I’m

Sean: [00:01:00] glad you’re here.

Mike: Hey Sean. Welcome to the show.

Sean: I’m Mike. Thanks for having me on. I appreciate it.

Mike: Yeah. Good to see you, buddy. So have you been on any of my podcasts before or you’ve been on like flipping her show or something before.

Sean: Yeah, I was on one other time. I don’t know. I’ve done. We’ve

Mike: done over 1500 podcasts. So sometimes I’m like, we’ve known each other for 10 or 12 years.

Been friends do a bunch of stuff together, but I’m like, have you been on the show before? Sometimes I’m like, you know, I just forget John blank.

Sean: Yeah. I, uh, I don’t do a ton of these. I mean, I guess I do, I do quite a few, but not, not as many as you. Of course. I’ve been on. When you’re doing a lot more

Mike: now, obviously you’ve got your own podcast now, which we’ll talk about today.

So, but, uh, for those of you that don’t know Sean Thompson, uh, other than being my friend, being in a, uh, obviously a multi-family investor now just did your first deal, which we’re going to talk about, which is really exciting. And, uh, being a member of the investor fuel mastermind, which we’ll talk a little bit about at some point [00:02:00] sprinkled into today.

Tell us a little about your background, how you got started in real estate in the first place.

Sean: Well, you know, I always wanted to be a real estate investor. I on some level, right. I just never knew how to make it a business. I knew how to buy a house and, and kind of, you know, how that works and stuff like that.

But when early on, I didn’t know how to make it a business. And I wanted to, I wanted to start my own business and I would like to be in real estate, but I couldn’t figure out how to do it. And so I bought, I finally decided to just buy a house. And I was going to figure it out. Right. And I did that and I used like a HUD two or three B loan program to get a, you know, where they have, um, they give it to some of the construction money and stuff like that.

And so when I did that, my contractor at the time was a friend of a friend. He had just bought a home bus with franchise. And so he was telling me how there was a system for buying these houses. And I thought, well, that’s exactly what I’ve been looking for for forever. Right. So. Kenny. Yeah. Okay. Yeah. And, uh, so he, he immediately, I said, you gotta, you gotta get me on this program.

He immediately introduced me to you.

Mike: Yeah. [00:03:00] Cause they were, he was on my team.

Sean: Yeah. Yeah. You, you were his da at the time. And so I went down and bought a franchise right away. I called you like that day, the next day and said, Hey, I will, this is what I want to do. And so that kinda got me started as, as a real estate investor, as a business.

Mike: So what year was that when refresh my memory, because we’re getting old now and it’s like, that was a long time ago,

Sean: but, well, I think I, my first

Mike: 2011 or 2012, somewhere around there,

Sean: yeah, 2011, I bought that deal in 2011 and we were working it through the. The 20 11, 20 at the beginning of 2012. And right in the beginning of 2012 is when I signed up with HomeVestors.

Mike: So that’s when I’ve been friends and known each other for 10

Sean: years now. 10 years. Yeah, I guess it’s 10 years. Yeah, that’s awesome. And so we, um, we just started, you know, I started working single family and my goal with investing has always been, you know, to replace my core, you know, my business income or my job income.

Right. And my wife’s job income. So income is the thing that I’ve always had. And with single family, I was just never able to kind of [00:04:00] get the velocity, that, to hit the income goals that I wanted to, you know, I was doing, I had a great business and I was doing okay. And I, I would never concerned about being a giant volume person like doing 150 houses, just seemed like a nightmare to me.

I would, I always thought of my business as I want to make as much money as possible and, you know, do as little, little effort as possible, so to be most efficient. Right. And so I would just do my few houses and I. I made a lot more money than guys who were doing some guys that were doing those hundred, 200.

Yeah. I got to keep most animal overhead and yeah, you have to build a bigger machine to run them, to run bigger volume. Right. Right. And so, uh, I guess I could have done that and I could’ve gotten more houses and I could have, you know, built my portfolio that way. But I just started thinking to myself after about 10 years of doing that, I started thinking.

You know, Hey, there’s gotta be, there’s gotta be a different way to do this. And I always thought apartments were kind of out of reach for me. I always thought it was hedge funds and big riots and stuff. [00:05:00] And I was in investor fuel. Actually, I, I was an investor field before it was investor fuel. You keep forgetting this, but yeah, I was at the very, very first that I was

Mike: involved in everything I’ve done for the last 10 years, I think one way or another, for sure.

Sean: So, yeah, but, um, So w I was an investor fuel and Corey was also invested fuel member too. And he came and told his story. And once I heard his story, I mean, I literally got so excited in that when he was talking, I, I w I wanted to stand up and just tackle the guy and just say, Hey, you gotta, you gotta show me how to do this.

This is what I’ve been looking for for 10 years, you know? And so we, we kind of talked a few times and he happened to have a common education component to his business. Right. And, um, so he, you know, he finally, I finally convinced him to teach me how to do this stuff. And, um, but it took me, you know, it took me a year to kind of decide and believe that I could go from.

Single family to multifamily. It’s, it’s a big step. You’re essentially a hundred X in your business. [00:06:00] And, uh, it took me a year to kind of make that decision. So, uh, it was a little bit of time.

Mike: Yeah. Well, and it’s, it’s, uh, you know, the deals are fewer and far between, but they’re big deals when you

Sean: get them.

Right, right. Yeah. So I just created a plan. Um, the last couple of years has kind of been my execution of the plan, but I created a plan on, I sold off some of my single family inventory, you know, I had, I had a few in my portfolio and so I sold off some of my single family inventory and that gives me some operating capital so that I can go for a while trying to get that, you know, that bigger, those bigger deals put together.

And, um, luckily, uh, you know, with Corey’s help your help, everybody’s help that I’ve been able to finally get my last deal. We just closed on our first deal about eight weeks ago, six, eight weeks ago. Wait. Yeah. But a little over eight weeks ago, sorry, two months. And, uh, so now we’re just operating that deal and working on our next one.

So,

Mike: yeah, that’s great. So maybe before we, because I want to get into your deal and kind of hear how things are going, what have been some of the things. [00:07:00] Maybe challenges you faced in that transition. Cause I think there’s a lot of people that want to make that transition at some point. Right. They can, it’s like monopoly.

Like you want to go from the greenhouses to the red ones. Right. And so, um, not hotels necessarily, but you know, more multi-family so, so I’ll talk about what, what were some of those kinds of more painful things or what guidance to people listening right now? Could they benefit from like, if I, if I had just done this, it would have been easier, you know, there’s no silver bullets, but what are some of the lessons.

Sean: Yeah, so I I’m still going through pain now. Right. So it’s, it hasn’t gotten easier yet. Um, I’ve had some success, but we still have to keep that momentum going. Right. So there’s still some pain now, but I think the biggest critical steps are, um, you know, number one, I got to learn from Corey. Right. So Corey does sound great, uh, sort of a great foundation for building your business on, um, as good information.

I think if you find someone or a group that you can be involved with, [00:08:00] That, um, can kind of give you a great foundation to launch your business from you’re still on your own. I mean, in this world, you’re still kind of on your own. You got to get out there and hustle and do your own work and make things happen on your own, but in multi-family you can’t do it by yourself.

So you’re, you are on your own, but you need a team around you that can support you and give you those, those resources that you need. So multi-family is a game that you can’t do by yourself in that, uh, if you haven’t done it before the banks, aren’t going to loan you. The money. Right. And I’m talking about, this is a hundred plus, you know, these are big deals, right?

And so if you don’t have the net worth the liquidity, the experience that you’re not going to get, you’re not gonna able to secure the debt. So you’re going to need partners that can do that, help you with that sort of thing too. So yeah, finding people that can be on your team for those things. And then raising capital is a big part of that too.

We had to raise, you know, several million dollar. Uh, we’re going to work. Our next deal is going to be several million more dollars. Um, and having people that can kind of help you with those [00:09:00] things as well. Yeah. And

Mike: I love the structure. I love that. It’s team-based, you know, I was you and I, where we came from, we were like lone wolves before we’re just out and you’re doing everything yourself and there’s always in every business.

I’ll say this from a business maturity standpoint, pretty much everything I’ve done over the last five years, I have a partner or a it’s a. JV or it’s like things where you it’s like, there’s things that I’m good at. There’s things I’m not good at. Right. And, and I love that approach. It just took a while to get there, like my business maturity standpoint, because a single family you’re kind of just scrappy and lean and mean early on, and you can’t afford to have a team or whatever, but multifamily, you can’t do it without a team.

And so I just love that mentality of like, uh, like. I don’t ever want to be the guy that finds deals. I would rather focus on raising capital because one, I think I’m better than that too. It’s uh, it’s honestly a higher value add activity of raising money than finding deals in the multi-family space. Not that way in single family, but in multi-family.

It is right.

Sean: Yeah. Most single-family guys. So I talked to single-family guys all the time [00:10:00] that are trying to make the transition because they’ve heard, they’ve heard my story and their first impulse is always deal. Find the. And I spent two years building a deal machine that all I do is find deals and I got really good at finding deals.

And then what I realized was once I funded my first deal I had, and I wanted to go buy my second one, I, I had to find the money first. Right. So it’s like, why can’t I, it doesn’t matter how good I am at finding deals. I need, I need several million dollars every time I do to make it happen. Right. So. You know, I, I need that additional, uh, components of my business.

If I were to do it over again, I would focus more energy on finding capital at the same time or finding deals. But, but the, the impulse of most single family guys is I can find the deals. I can find the deals well, that’s great. But you better also allocate a ton of resources or energy or partnerships and finding capital at the same time.

So that’s, that’s another issue that I had. So finding partners that you can work with on a high level that can help you with. Security and then finding [00:11:00] people, then you’re in your network that can help you with the other components like capital raising and like for you, if you want to raise capital, but you don’t want to operate the deal either.

So there has to be someone in that network of partners that doesn’t, that wants to operate the deal and do the asset management and, you know, keep on top of the property manager and, you know, um, report to the investors and all those types of things too. So you need all those components. And then from a single family perspective, like you said, it’s a very lone Wolf business.

And that was one of the struggles I had was like, how was this used to doing everything myself? And now I have to have, you know, several people in my team every time. So it’s a change of mindset, the mindset,

Mike: it’s probably the biggest hurdle you face, I’m guessing. And I think the other thing is that, you know, you said it, it hasn’t gotten easier yet.

I kind of, I, this is, I used to think. Cause we complicate things like, like if it starts to get easier, then we find like, well, let’s add something onto it and we make it more complicated. So I think I’ve gotten to the point now where I truly believe that things don’t [00:12:00] get easier. We just, we just adapt to overcome the challenge.

Faster. Right. Like we, like, I don’t want something that’s easy. I just want to overcome like the mindset of that’s hard. It’s like, nah, we just have to get past the fact that stuff is stuff is hard. The stuff that we do is just generally hard, but we can tolerate it more as we kind of move forward is kind of my opinion.

Sean: Yeah. Yeah. That’s true. So I, I that’s true. I, it hasn’t gotten easier because I keep, I keep pushing to do more. Right. That’s what it is really. Yeah. And that’s what we do as

Mike: entrepreneurs. We, you know, we say. Oh, I’d be happy if I could do a deal a year and then you do one you’re like, well, I really want to do 10 next year.

And like, we, we moved the goal line. We moved that’s, that’s what we do, you know?

Sean: Yeah. That’s exactly what happened. So I, I did my first deal and I’m like, okay, now let’s go do another one. Of course. And that’s, you know, some I’m going through that, but as I’m doing that, I’m, I’m learning new things and I’m like, well, why can’t we do 10?

You know? So. That’s true. Yeah. Is I dunno. It’s, it’s, it’s, uh, I guess the struggles will always be there as long as you’re [00:13:00] pushing to do big things. Right. So if you’re always, you’re always continuing to, to level up yourself and your business and your life and stuff, you’re always gonna have those struggles, I guess.

You

Mike: know, one of the cool things, a little, a little bit of a plug here, we’ll talk about investor fuel, uh, down the line in which you’ve been a part of for four years now in different groups, but now a lot of people know that we. This multi-family group now, which is a small group and growing, but what’s really cool is on a couple of these deals recently I’ve seen.

Most people in the group are helping you to participating raising money for each other, like helping each other emotionally, whatever it is to kind of get through, um, those deals. And it’s pretty cool to kind of see people coming together for that. Cause our single family groups, which are way larger as you know, are amazing, lots of people doing stuff together, but it’s just not the same as people like saying let’s all jump in this and figure it out, you know?

Sean: Yeah. And it’s that team mentality again, too, right? So it’s, it’s uh, no one can do this alone and there’s a lot of intricacy and complexity to this business that isn’t necessarily in single family on a [00:14:00] fundamental level, single family and multifamily, residential are essentially the same. You want to create beautiful communities that people want to live in.

Right? That’s the basis of all that. But the complexity of doing these transactions is a hundred times. Different. Right. So, you know, it’s, it’s, it’s very important that you have people that you can collaborate with, that you trust to give you good high level information and feedback. You know, when you’re doing an underwriting, having someone else run through that underwriting is, is, uh, is great.

You know, it gets some feedback from them. Maybe you missed something, maybe you want to change something, you know, add something. Uh, so yeah, it’s having the group around you to kind of go through that process and to help. Uh, it’s important to in and in the group also there’s um, you know, I know Corey has hand, uh, three or four members in the group, uh, raising capital for one of his recent deals.

And so everybody can kind of come together to accomplish a goal of a new acquisition or something like that, too. That’s a lot of strengths. Yup. Yup. So

Mike: let’s talk about [00:15:00] your deal. You, you finished up a couple months ago. I know you were working on it for awhile. I know it’s, uh, like the icebreaker. So now you’re moving on to bigger and better things, but let’s just talk about, uh, just maybe spend a couple minutes talking about the deal.

Sean: Yeah, well, it was our first deal. It is a, it’s a DFW deal, which I’m extremely proud of because buying deals in Dallas is, is quite difficult. Right. So I, I was having dinner with someone the other day and. Uh, I wasn’t thinking about it, but they just asked me, what is it like buying deals in Dallas? And my first thought was, it’s like a, it’s like an MMA fight.

It’s like being in a UFC card or something know you just gotta get in there and crack some heads to get a deal done in this town. Right. And so just having a deal in Dallas for me is, is, um, is, uh, you know, a big deal. Right? And so now we’re, we’re, now that we’re a Dallas operator, we have a lot more. I guess doors opening up to us, you know, we’re in a, we’re in an operator’s club here in Dallas and, uh, you know, the brokers locally are starting to say, Hey, well, you know, Sean, Sean can do it.

So let’s, let’s help him out, you know? And so we’re seeing more deals. [00:16:00] Uh, we’re getting further along in deals, uh, than we were before and things like that. There’s a lot to it. That’s been, that’s been kind of helping us level our game up and I think we’re going to buy more deals in Dallas, uh, as a focal point for sure.

You know, before we were kind of having a shop in other areas. But, uh, you know, now, now that we’re a Dallas operator, it makes it a lot easier. And I think most people would can’t they, you know, they don’t, they’re not getting their first deal in the, in the top market, in the country. Right, right. Um, so that’s, that’s been good.

You’re

Mike: you’re you’re cause this, this is a thing I don’t think. This is once you close a deal, you’re on the radar. And you know, a big part of the, the side of a multi-family is, is the traditional model of going through brokers. Sometimes the properties are already listed like in the, in the single family space.

Like I know there’s some people that say they buy off the MLS. I don’t know how that’s even possible in this market. Whatever 13, 14 years at Ivan operating, I bought a couple off the MLS, like in the early years. And they were definitely not my best deals. Like the kind that you like. [00:17:00] Well, I got to keep it as a rental because there’s not enough meat on the bone, but the commercial side is very different.

You’re going through brokers and stuff. And so it’s a real thing that once you’re on the board, um, brokers that actually have deal flow are looking for people that recently closed and they started reaching out to you. I suspect, right. To say, Hey, we’ve got a deal for you. You kind of get on the radar.

Sean: Yeah, for sure. So as soon as we close our first deal, we had, we were inundated with, with new new faces. Right? So we hadn’t talked to some of these companies or brokers in the past and they were calling us saying, Hey, we’ve got a property we think you should look at. You know? And, and so we were getting a lot of those opportunities that, uh, we weren’t seeing before.

Uh, you, you know, you, you touched on something that’s interesting. And single-family, you’re buying, you’re buying properties at a discount because you’re trying to hit us fixed retail. Right. Right. And you’re buying, you’re buying below that, that retail mark, and trying to fix an and, and add value and then have a profit margin in multi-family you buy at a market rate.

Essentially at a market rate [00:18:00] and then you add value and your value goes up, right? Because you’re operating on an NOI and a cap rate valuation. Uh, so it’s a different mindset. A lot of guys come into this business from single family and they’re like, what’s the discount. And it’s like, what? That’s not how it works.

You’re looking for a value add opportunities that you can then drive value up. Right? You’re not looking for the discount.

Mike: There’s not necessarily a cap on the value or the sales price. Like there isn’t the, the cap on single family for the most part is the retail value of what a homeowner would pay for.

Based on comps in the neighborhood.

Sean: Yeah. So you’ve got an appraised value. If it’s a hundred thousand dollars, it’s going to be a hundred thousand dollars. If you put, if you put a million dollars into that property, it’s not going to bump more than, you know, much more than a hundred thousand dollars in value.

Right. It’s just, it just doesn’t work that way. And in multi-family you have a property that has some. You know, mechanical issues, some, some deferred maintenance issues, some bad management, it’s not operating at its full it’s full potential. That’s where your discount. It’s not, it’s [00:19:00] not that you’re getting a discount on the property.

It’s that you’re, you’re getting you’re, you’re expected to come in and fix those problems and then increase your NOI. And that’s going to give you a higher valuation because you’re operating on an income valuation. Right. And so you’re looking for opportunities. You’re not looking for, you know, you’re not looking for discounts.

And a lot of guys, I think at the single family space, they’re like, well, what’s my discount. It’s then it doesn’t. You have to start looking at the business as what opportunity upsides do I have?

Mike: It’s that it’s, uh, has a 15% vacancy rate. And you’re like, well, just by getting it up to 90 or 92, we can add value there.

And if we do a little bit of work here and improve the property, we can get the rents up. And it’s basically a multiple a profits. Or you could have two properties that are identical in every way, kind of same year built all the side-by-side, but one of them is operating at a much higher level and it could be worth twice as much than the one next door, all else equal, but it has nothing to do with a year built or how many units they have or any of that.

It’s like, how [00:20:00] is it operating? Because you’re basing it on the value on a multiple of that

Sean: NOI or the private. Yeah, it’s a small business. And it, like, we looked at deals recently, um, that the surrounding properties were doing great, but this particular property was owned by an out of state owner. Uh, they had an out-of-state property management company.

That’s their only property in this, in this area. They, the onsite team was just kind of closing the doors. They weren’t even hardly showing up for work when they showed up for work to at least deal or at least a units out, they were just leasing them to anybody that walked in the door. There’s no qualification.

So. The tenant base went way down. The occupancy went way down, so they’re just poorly managing the property. Right. So it’s only worth this much money, but you come in and if you come in and do anything to help fix those issues and you’re going to have a better, more expensive property. Right, right.

Mike: Yep. Um, so what’s next for you?

Obviously you got one deal and what, tell us about the deal real fast it with like the purchase price and, um, some of the, just to kind of high level purchase price, and some of [00:21:00] the improvements that you see that you’re going to make to. Expand value. Like we just talked about,

Sean: well, we want to, it’s a, it’s a smaller property.

So it’s only 76 doors, which is, I mean, I guess that’s still a large property, but, um, we, we focus on a hundred plus usually in our underwriting, but we, we happen to have this opportunity to come along and the brokers team that we, that we, that we’re listing at where we have a great relationship with. And I really liked those guys.

And so we kind of pursued it. Um, And the community itself is, is a, it’s a great building. It has properties. The billings are surrounding a courtyard. Uh, it’s a very strong family community so that the families, kids all play together after school, in the courtyard and the families come out and barbecue on evenings and weekends, out in the courtyard and stuff.

So it has a great feel to it. And so most of the camp. Uh, expenditures that we’re doing are to kind of enhance that, that, that community feel. Uh, we do have some, um, I guess, deferred maintenance issues that we’re doing soon, you know, like some we’re, we’re paying the boiler and, uh, do a little bit of foundation work and things like that.

So we have [00:22:00] some big, uh, some big deferred maintenance that we’re kind of conquering. And then we have just some interior value-wise stuff that we’re doing. But, uh, you know, the funny thing about Dallas is that it’s, it’s a crazy market. And just between the time we looked at it at the time we closed on it, our organic rent growth is already hitting our two year performance numbers.

Right. So without touching the property, aren’t all of our new leases that are coming up are on our two year number. Right. So it’s, it’s the performance here is just insane. You can’t underwrite to that. Of course. It’s just you can’t, you can’t underwrite double digit gross in your, in your underwriting.

You’ll be disappointed if anything happens, but, uh, so we’re, we’re very excited about the upside on this particular property and, uh, you know, looking forward we’re, we’re just starting our CapEx, you know, execution now I think with our property management group and, uh, everything’s going pretty well.

We’re we’re excited about.

Mike: That’s great. So, Sean, uh, if you don’t mind, you’ve been an investor fuel from the beginning, like you said before, it was investor fuel [00:23:00] started in the single family groups. Then you started making your transition to multi-family and moved over into what we call our cashflow group, which is, is fairly new.

It’s only been around for six months or so, um, that I partnered with Corey Peterson on. And, um, would you mind just kind of sharing, uh, a little bit of your experience in kind of the investor fuel family? Cause you’ve been around from the beginning.

Sean: Yeah. So it’s critical to find, I think if you’re trying to, if you’re trying to go to the next level in your business or in your life or whatever it is, you know, especially in single family, a single family, I found a great deal of value in having people around me that I could kind of collaborate with.

I had questions about, you know, what kind of mailers are you sending out or what, what should I be putting on my, what kind of texts should I be putting on my mailers or whatever, you know, whatever little questions you have and when you’re by yourself, it’s. You don’t know how to collaborate with those things.

Right. So having a group that you can go to and turn to that, that are doing these things on a very high level that are doing them every day. And these are guys that, you know, were, are [00:24:00] succeeding and you’re not there, you know, that you can trust them to give you the answers and stuff. So I have a group around you like that.

It’s just, it it’s, it changes everything. Right. Before, when I, before the group, I was just kind of operating my business and I could call you and a few friends, you know, and ask questions and things. But having that collaboration on a consistent level, you know, monthly calls and quarterly meetings, and being able to interact and engage with people that are doing the same thing you’re doing and, and going to the next level with it.

Uh, I think. Uh, if you’re really trying to make a success out of your business, I think it’s, it’s a critical, it’s a critical move to, to be in a group like that, for sure. And then finding a group that has kind of a similar. I don’t know, what do you want to call it vibe or something, you know, as similar, similar fields, the way you want to like, kind of live your life.

It’s, you know, I, I have a certain lifestyle I want to, I want to maintain and run my business that way and sort of things like that. And you want to have those people around you that kind of have that same philosophy and, you know, because you want to be going in the [00:25:00] same direction. With the group as you want to be going in yourself individually.

Right. So I think that’s critical for me. I mean, you and I are good friends and for me, I liked the way you do things. I like how you set things up. And I think the people you attract are, are similar to, to me or you. Right. And so it just kind of works out that way. Not, not everybody’s gonna fit in your group.

Uh, but, but there’s a group out there for somebody right. For everybody. But I think, you know, for me, it was perfect.

Mike: Yeah. Awesome. I appreciate that. And it’s cool. Like you said, kind of the way you want to live your life. Like I said this many times, like I invested a fuels, like my second family and you know, everybody in there is, are also my customers.

So I mean, I get that, but the truth is, is it’s not all about money for me. It’s about being around the people that I want to be around and we do stuff like, I know you just got back from Hawaii with Corey and some of the folks in the cashflow group and. A bunch of trips planned from whitewater rafting in Colorado.

We’ve got a trip in Vegas or we’re going to go shoot sniper rifles in the dev desert. And [00:26:00] you know, it’s just doing stuff and not everybody is able to come to all these events for sure. But I think just having a community like that to go do cool stuff that creates a lifetime of memories with is, is that’s why we’re in.

The real estate. That’s why we’re in, that’s why we’re out while we’re entrepreneurs. Right. As we want to be able to live a more abundant life and do things that the average person just doesn’t get to do.

Sean: Right. Yeah. And being around people that are building that for themselves and then helping you do it at the same time.

Mike: Yeah. Awesome, man. Well, Sean, uh, great stuff, excited to see where you go from here, excited to participate in your deals with you in the future and all those things. We’ve talked about. W how folks wanted to connect with you. You have a podcast, uh, of course there’s people that if they have any interest in investing, uh, how do they, how do they reach out to you?

How do they connect?

Sean: Well, we’re of course, continuing to look for new deals. We’re, we’re buying more and more, as much as we can. We’re always looking for people to partner with on those sorts of. Uh, so if you, I guess the best place to go, really to get our central information and we got our website [00:27:00] and it’s just Thompson multifamily, group.com and Thompson.

I don’t know if you can see it on my shirt or something or my logos, but it’s T H O M S O N. There’s no P. So just Thompson multifamily group.com and you can get to our podcasts there. You can get to our social media connections there. You can get our, I mean, you can, I think you can even schedule a meeting with me on there somehow.

Um, but all of our stuff is on our website, so yeah, reach out to us. Um, I always like to talk to guys as they’re trying to start up their business. So we’d like to talk to investors that want to look at multi-family as an option for them. We like talking to all those sorts of people, so yeah. Feel free to reach out to us and then check out our podcast to be great.

That’s great.

Mike: I’ll and I’ll, I’ll add a link down in the show notes here for any of you that weren’t able to write that down, or it is a little bit of a longer URL, so we’ll make sure you get to the right place. So down in the show notes for this show, we’ll have a link for ya. Uh, Sean, really appreciate your time.

Spend some time with us

Sean: today, my friend. Yeah. Thanks Mike. Appreciate. Yeah, of course.

Mike: And everybody, um, if you haven’t checked out investor fuel [00:28:00] yet go to investor fuel.com, you can learn a little bit more about what we’re all about, whether you’re a single family investor or if you’re a multi-family investor or you’re in the transition process.

We have a pretty amazing group that we call the cashflow group, which is, uh, those that are transitioning from single family to multifamily. And many of which own hundreds of doors, some are just doing their first deals right now. I think most people in the group have actually done a deal here in the past year, participated in deals, which was really cool to see kind of inside of our family.

So appreciate. See you on the next episode.

Mike: Are you an active real estate investor? If so, and you want to latch onto the power of surrounding yourself with over a hundred of the nation’s leading real estate investors, all committed to building stronger businesses and living a richer fuller lives. You should jump on a call with us to learn more about Investor Fuel, simply visit investorfuel.com to get started.