This week, I attended a mastermind in Nashville. It was a really good event with hundreds of attendees. My good friend Mike Hambright is the host. It was a great time in the market cycle to get to hang out with hundreds of active single family and multifamily investors from across the nation.
To sum it up, everyone is cautiously optimistic.
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Welcome to the real investing show with Tim Herriage each day, we’ll provide real investing for everyday investors. Tim is a nationally recognized real estate investing expert podcast, host and public speaker. He built his businesses from the ground up and is here to help you do the same. Here is your host Tim Herriage.
Hey everybody. Welcome back to real investing Tim Herriage here, and I am gonna do something a little different today. Today. I’m gonna talk a little bit about a mastermind. I was at all week this week. So I was in Nashville Monday through Thursday for the investor fuel mastermind. My good buddy, Mike Hambright puts this event on almost 150, 200. I’m not even sure. I don’t count, uh, people in the room between multifamily single families, folks that are doing 10 a year, 10 houses a year to folks that are doing 1500 apartment units, a quarter and guys, and guys that are doing 800 houses. Uh, so lots of, lots of broad ranges. He breaks it up into several different groups, um, of, so you’re in a room with your peers, um, and you know, I’m there. And I, I bounce back and forth from room to room to room and, uh, say just my mind is blown.
How much, like some of the quote, unquote smaller, newer investors, just how much they know what they know how to do. Like, I mean, um, one instance was, uh, some of the tips and tricks that an investor shared for his SEO, uh, and how he’s optimizing his website. And then when I look at people’s sales processes, how much, uh, you know, the basic discipline of sales processes is really consistent throughout industries. And you get you thinking about KPIs so much that on Friday after I got back, I had a call with our VP of sales at RCN and the CEO in both calls, we were talking about KPIs and so key performance indicators. So I, I think my takeaway on the real estate market, because the nice thing is these guys and gals are from, um, all across United States and multiple different disciplines. Some are only wholesalers, some are only flippers.
Some are only landlords, some do 10 times more than I could ever or probably would ever want to. Um, and it’s just, it’s interesting. So some takeaways, right? Um, number one, Mike and his team, doing an amazing job, putting together a room of quality individuals that are really open to share. So kudos Mike and Hannah and Anna, um, and the whole team. Um, number two, I think people are cautiously optimistic right now. Those whose business is geared around fixing and flip and say more expensive homes are kind of pulling back a little. Uh, those that are kind of in the affordable housing space in the Sunbelt are leaning in all the way. Um, I think everybody acknowledges the uncertainty. I think everybody’s adjusted their buying criteria a little bit. One of the most interesting statements I heard was someone said they were focused on leading the market down instead of following the market down.
And I asked Cody what that meant. And he just, in his mind, they had to adjust their buying criteria, but then had to spend time educating their sellers where before they may have stayed for 30 minutes at an appointment. Now they’re really, you know, they’re at an appointment for an hour, just really getting through all the nos and all the, all the, all the, all the, uh, objections and helping lead the customer thought to a point where, you know, he he’s in Utah and, and, and, uh, you know, ARVs are different. There, ARVs are different in the bay area purchase LTVs are different everywhere from what I’m hearing. So, uh, it, it was a great week. It was very interesting to just see how optimistic, um, everybody is. Everybody, you know, it’s, uh, oh, interest rates are so high, yada yada yada. And I used the phrase it’s, uh, so basically the last couple years we’ve been giving out free, free crack, and now we’re charging for cocaine, but it’s still on sale.
So I think, you know, investor loans are down in the low sixes. As of today, owner occupied houses. You can get interest rates in the fours. That’s not high. We still need millions and millions of homes in United States. And, uh, you know, people at the three necessities in life, right. Food, water, and shelter. So, uh, I think, you know, it, it was fun to spend a couple days with my team from RCN and all of my fuel fam. Um, it was a great event. Like I said, if you’re interested in it hit me up, I’ll introduce you to Mike. And, uh, he’s got an application process because he really just does a great job getting good quality people in the room. So if you’re interested to hit me up and I’ll get you inter introduced to Mike’s team, um, Mike’s got the big million dollar meeting coming up, August 31st here in Dallas, that information’s on my website.
Uh, yeah, I mean, I’m just, I’m, I’m watching the news. I’m watching the CPI prints. I’m watching the core CPE and you know, I’m still on record of saying, I think, I think the peaks behind us as far as interest rates go, and as soon as the general public acknowledges that I think, uh, volume starts to pick back up. So I hope you’re doing well. Thank you for taking your time. I’m now gonna dive into the questions from the week. So if you have a question don’t forget, go to, Ihavelunchmoney.com, submit your question and I’ll do my best to get it to it. Hope you’re having a great day. Enjoy your, the end of your summer. And it’s hot here in Texas, and I’m ready for it. Not to be. We’ll see you tomorrow.
Thank you for hanging out with us today on real investing. If you have questions, comments, or feedback, please visit. Ihavelunchmoney.com. Tim. Can’t wait to hear from you. We are always grateful for your reviews. And if you enjoyed this episode, please subscribe and share it with your friends. Remember the business is the vehicle, not the dream. See you. Next time. The proceeding program is provided for general education purposes only and is not constitute legal tax, financial investment or other professional advice. No information contained in this program should be construed as financial investment or legal advice from any individual author post or guest. You should always consult a financial advisor before investing.