He Bought an Abandoned Jail for $200,000 and Kept the Cells

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0:00 well if you can see him you can be him too like it really comes down to watching somebody that's doing what you want to do and then you know get as much
0:08 as you can from videos or talks that they do or podcasts get as much as you can for free and then see where that leaves you and if you want to accelerate
0:16 that then you start engaging on higher levels everyone welcome back to the owner meeting I'm Christian your channel host and founder and operator of multif
0:24 family strategy we are here with my favorite investor of all time that's not an exaggeration you know this if you followed my channel for any time at all
0:31 uh this is the guy I go to when I'm stuck on anything real estate he knows more he's forgotten more than I'll ever probably learned in real estate he has
0:39 the beard everyone wants go this is my favorite human being in real estate I and I mean
0:48 it Matt Hawkins if you if you don't listen to this whole this whole podcast today you guys skip this video You're
0:55 Fired just unsubscribe uh this is the best guy in real estate he has written Bank programs that like he's written
1:03 loan products that didn't exist to expand his portfolio he's renovated everything he's dealt with everything for the most part the landlord can deal
1:12 with all Walt staying employed at a high paay job like he did this as a side project at the highest possible level
1:19 recently retired over the last year or so yeah F yeah four kids yeah four we're done at
1:27 four we're done at four but I consider yours one of ours so that's it's okay okay there we go yes yes just now officially The Godfather of my
1:35 child this this guy is amazing amazing father amazing husband this guy is the gold standard uh I appreciate that
1:42 without blowing any more smoke at Mat yeah exactly guys we're gonna talk about a few things on today's episode I want to talk to him about about some business
1:50 strategy we're gonna talk about a prison that he converted there are some cool conversions I've done hotels never a prison I want to hear
1:57 about this and how you you're not into like a slummy property either like you're taking a prison and making it upscale living that is a cool idea um
2:07 you know what you're supposed to bury the fun part to the end of the podcast so people actually listen I'm gonna trust everyone's gonna listen to this
2:15 whole thing let's just open on this prison conversion how did this deal even come into your Universe where you looked at it a abandoned prison and went like
2:23 that's the project this is the one I think I'd flipped pretty much everything else I think I'd done kind of every other project um I so for us one of the challenging
2:32 things in our area so I'm in New England I'm in I'm actually in New Hampshire um everyone thinks that that's inexpensive real estate we have 17 miles of
2:40 Coastline so it's some of the most expensive real estate in the country um so a lot of our stuff to get on the water even near the water is millions of
2:47 dollars so it's not an inexpensive Market by any stretch but one of the things I looked at was large multif family like what you really specialize
2:54 in which you're amazing at doing like I I've had deal structure questions I go to Chris because I'm just like this is the way I'm thinking about this deal is this the
3:03 way that I should structure this just because it's great to have another set of eyes and I've been doing this for a long time almost as long as he's been
3:10 alive but you snip that that's testimonial put that on the website that's best investor in the country has said he goes to me for deal structure
3:18 that is it absolutely yeah with like honestly like we I've called you two or three times on something I'm just like hey what do you think about the structure you're like holy cap I love
3:25 that structure that structure is awesome and what's really funny is is one of them kind of bit in the back but it but it ended up with a good story but about
3:33 the jail what was really interesting was everybody was looking in the market and they're looking for deals and they're looking for things that most of the time if you're buying TurnKey you're paying
3:40 full boat retail if you're buying something that needs some work needs some Vision needs some love um then the
3:47 more love and vision that it needs the more money you have to sink in but the more return you're largely going to get and so I'm always looking for something
3:56 weird something IND interesting um sadly there's a developer around us who just has pockets deeper than I could ever possibly fathom and so he does a lot of
4:04 Mill building projects but they take years they take years to develop those projects so I was like well I need to find individual who's like six foot4
4:12 what's that does he happen to be a giant individual who like no so that's so he um what's really funny about that individual I won't use his name but what's really funny about that
4:19 individual is he got into the market at the perfect timing where he was telling everybody you only need to make $50 a door that was his that was his Capital
4:27 number he said 50 bucks a door is all you have to make well he quickly amassed a bunch of assets doing seller financing
4:35 but then had to sell a bunch of those assets and he got lucky with covid he's you know I I I think he's generally I think he's an okay investor but I'd like
4:44 to see what he's doing now where he's buying something that operates on 50 bucks a door because that doesn't really work anymore um and so so this is
4:52 actually a different investor an older guy um with tons of just deep Deep Pockets but he does the Mills so I was looking for something that we could kind of really unearth value and that was the
5:01 biggest challenge because we're always trying to we're always trying to unearth value so um I started looking at abandoned buildings found this abandoned
5:10 building and I was like oh this is interesting and then I found it on the the literally every town has to post it I found them posted on their C on their
5:18 town website town website town of a little over 10,000 people town website I find this thing and I'm like I I don't
5:26 have enough time to do my due diligence I had to let it expire and hope they put it back up the downside was is they did put it back up but they decided to place it with a re realtor at that point I'm like Ah
5:35 that's kind of a bummer this building is a it's a jail police station it was both um and so what's most interesting about this building is that it still has jail
5:44 cells in it um and that's pretty awesome and uh the big thing for me was the price per square footage so this is an
5:51 8,000 square foot building um usually the price per square foot where we are is 250 to 300 bucks a square foot
5:58 completed this building was completely gutted but they had done all the environmentals on it because most towns when they yeah most towns when they go
6:07 to sell these assets they have to have the environmentals done to make sure it's
6:14 safe here's the cool thing they actually get funded by the federal government to do those environmentals so they applied for two
6:22 grants over a three-year period they got those two grants they did all the work it was $150,000 they needed two different approvals $150,000 in approvals but when
6:31 they go to sell the asset they get all the money because they got granted that money from the federal government I was able to buy the
6:38 building for $200,000 are the units or cells how many how many cells is your building yeah so
6:44 it's uh how many cells are left five there's five jail cells left and we're going to use those uh off of like a little kids's indoor playground we want
6:53 think there's a lot of parents who would appreciate being able to lock up the kid for exactly and just lock but they and and food is optional you know they can choose whether or not to give them food
7:01 in the cell um there is a table in there with chairs that the kids can sit down and eat on um but that's what's designed but yeah we wanted it to be something
7:09 that was going to impact the community in a positive way and so we did uh an indoor playground we did a uh something called a cold kitchen which is basically
7:18 just no heating anything up and and that means that we can deliver it for a lot less money and we did uh disabled Veteran's housing which vets are near and dear to my heart I've got a lot of
7:26 friends that are vets and so I'm kind of tired of all the lip service of you know what we got to do yeah let's see how much you do so we are doers um we are
7:35 not cross we are not uh we're not Watchers we are actual doers and so uh we're doing two adaa units for disabled
7:42 vets that are fully handicap accessible and if you quad or paraplegic either uh you can actually utilize these units is
7:51 that such a cool project it's fun it's a lot of fun do you have any got pictures that by the way I'll I'll try to get those posted in this spot if you have yeah sure yeah I can send you some I can
7:59 send you some pictures we're in the we're still in what I call the Ugly Duckling phase now which is uh rough plumbing just got signed off on rough electrical just got signed off on and so
8:07 we're finishing uh we're finishing the fire alarm and the Su fire suppression system but this was an 8,000 s foot
8:16 property and we're turning it to four luxury uh luxury two-bedroom units that I fully designed myself and then two uh
8:23 disabled veterans uh units uh fully ADA Compliant an indoor playground and a cold kitchen and so we are completely
8:30 revitalizing this was uh this was a police station jail so it's right downtown and so we're completely revitalizing the area with this uh type
8:39 of a project that we know will mean a lot to the city and we're just excited about being a part of that one of the things that I have always told people to
8:46 do for a long time and this is model I've tried to live by is I always lead with cash flow it is technically impossible to cash flow a vegan building
8:53 um some of these projects are just like they're so ludicrously fun you can do these project in my opinion the time to do these projects is
9:02 when you're established enough where you can easily float the negative out of the existing cash flow like you look at global cash flow and go can I afford to do a fun project I'm doing a little nine
9:11 unit it's a retail store downtown of Fredo Washington it mixed use three three retail spaces six multif family
9:18 the real thing I want though is they own the parking lot to my other mix use building uh they they share a parking lot and they build they mismanage it so
9:26 I'm like how do I get I called them and asked them how to man the parking lot and they're like I hate this building I'm a Hospitality guy this isn't
9:34 Hospitality I will I will seller or Finance the building to you 100% solar Finance no zero down I'm like uh yes
9:41 done so that was my solution to a parking problem uh nine unit building $600,000 seller finance 5% interest like okay we can do that uh it will not cash
9:50 flow as it is completely vacant and about $200,000 REO it is a project but
9:58 when you fin these in downtown core it is so fun to be a part of a downtown like it's like this building needed
10:06 something done reimagining a space I think is a million times more fun than ground up like just looking at
10:14 a piece of ground and being like oh this could be this finding something that exists and finding the highest and best use for
10:21 it as a creative it is so rewarding I I I wanted to do this podcast specifically as like a jail
10:30 and the fact that you kept some of the cells that's crazy what a fun piece of Personality it's just it's it's just it's beyond cool um a lot of the
10:38 contractors not a lot a number of contractors that have walked through that and I was like uh so every been in those
10:45 cells and a couple of them finally into to go yeah but it was a long time ago I was like that's fine I don't care it's all good come in hang out so yeah a
10:54 couple of the contractors that are doing work there have actually been in those cells on the other side of the cell when it was locked that's so
11:01 funny you invest Without Partners yes for the most part this one is also just this is a a a lumberjack only project
11:09 yep yep how does this work between you and your wife when you're buying this is this like hey Matt's out there just doing stuff you guys walk to prison
11:16 together how does pitching her on keeping cells in the building I'm just curious on how this works on a yeah on a
11:23 marriage standpoint uh she has no input she has no input uh last time she
11:31 had input she cost me like a million three in a deal so yeah so I was just like we're buying this place she goes babe I don't want to buy that house and
11:39 I was like we're buying it and she's like nope and I was like all right we can talk about it well I get my way almost all the time on the assets but I told her I tell her all the time I was
11:48 like but report card's kind of there like scoreboard it's kind of there and so this this particular time she just
11:55 goes I I don't I don't can't and I was like okay I'll respect that I see the path for this but I'll respect that we did
12:03 that I negotiated the deal down to $226,000 that property just treated for over a million dollars just four years later with minimal Ren out um and it was
12:12 because of its zoning and the fact that four more units can be put up there which will add another million to million two to that deal but in this particular case she's been inside the
12:20 jail maybe two or three times but it was much more like hey honey let's go to the jail together so you can kind of see what I'm doing um I'm not doing any of the work but I'm doing all the design
12:27 was me um all the design decisions the business decisions what we end up doing with the space you know how we break up the space um all of that was me um
12:36 that's what I've done consistently so my wife is amazing um she trusts me implicitly I mean I would hope so after 37 deals together um that she trusts it
12:45 at least a little bit but uh yeah so not not a ton of involvement honestly like no real uh no real she doesn't really do any design she doesn't really do she
12:54 really focuses in making sure that hey you're up to date and this is the number where we're at I always know the ballpark but she always makes sure that
13:01 we know the hard number so yeah she's great my wife is is very involved in the business but Danny does uh that is Danny
13:09 does the same thing it's like hey if I need to know how a building is operating I can always go to Danny and Danny's like hey uh this is your exact mortgage
13:17 you're paying on every single building here's our expenses if you do this you're going to be making this much I'm like perfect and she struggled with math
13:24 that's how easy real estate math is uh she really has a lot of difficulty with math but she can tell you every single property to the scent this is what we
13:32 are cash flowing today on every single deal which is so helpful that's why we have amazing wife like they've they've
13:38 not dedicated themselves to something that they love other than us like it's
13:46 just us it's just us and our families that's what they love and my wife is willing to do whatever it takes and that's that's the thing that's uh that I
13:54 admire most in my wife is that I know she doesn't want to be in accounting I know that she doesn't want go to the post office and pick up mail I know that she doesn't want to go and do
14:03 all the deposit slips and and and do all that work you know for the stuff that we still have that doesn't come in through our portal or through venmo I know she doesn't want to do that stuff but she
14:11 does it because she loves our family and because it's where she's needed if we're going to trust the the growth process and so my goal over the next year is to
14:19 kind of get her out of the business so she can you know uh so she doesn't have to do any of that and then we can just have a once a once a week meeting where
14:26 we just talk about it but yeah our wives our wives doing that for us in turn for themselves but then for our families
14:35 like that's one of the most amazing qualities of our wives and in return all we do is provide a big ass
14:42 house I Matt's house can eat my house and other one yeah it's really funny because as you know the only thing when
14:50 we talk about that stuff I'm like the only thing kind of ostentatious about me it's certainly not my clothes my wardrobe or my facial hair it's really
14:57 only my house and I just bought and the it was the same thing I bought it from somebody that overdid it got in trouble and I was there and able to execute on
15:06 the opportunity so uh I beard is is comparable to that it's yeah it's close it's it um I think the house takes a lot
15:14 more work than the beard which is nice that it would take me a lot more work to grow that beard than it would to uh buy the house oh dude it's so it does it
15:24 matters so much choosing the right partner in business matters uh you've been able to bypass most of that however your spouse is going to be your business partner in every Venture and you did a
15:33 fantastic job uh navigating that yeah now you have four awesome kids I'm I'm trying hard to keep catch up with you uh
15:40 four four is the goal you got a lot you got a lot of years the good news is you got a lot of years left to be able to catch me you know that's the good news I'm already really old most people don't
15:48 know but I'm already really old I'll be I'm I'm knocking on 50s door uh a couple years so uh yeah but bless blessed to
15:58 have the opportunity did and you know you'll you've done an amazing job in a very short period of time so with your trajectory there's no doubt that you're
16:06 uh you're a huge success but there's no doubt that you'll get the size that comes with that soon there's something that you did uniquely well though like I
16:16 I would argue on a lot of on a lot of fronts I think anyone can do what I did but I did it on hard mode like
16:23 I I work every hour I have no free time I won't have I I think I'm about two years from having time time Freedom if I
16:30 choose it but like I've been working for five years with zero time freedom I have Financial Freedom and I actually have
16:36 honestly I have Financial access but holy Lord I don't have any time like I traded a 100% of my time my goal is by
16:45 the time my kid is two and can actually start like remembering things that Dad is available like right now is kind of grind time because I'm
16:52 like okay I spend time with him I go to work from home so he gets more dad time than most kids do but I don't want him remembering like hey every waking second
17:01 of the day my dad was around and he you know he'd pick me up and then he'd start working like I I don't want that for my kids so time freedom is my next goal you
17:09 were able to build a business you had a full-time career in Tech uh and you did very well there very
17:17 very well in your career you have invested in your spare time and you've built how many units your portfolio not
17:25 that youit count as everything but no we're still we're we're coming up on one 60 I think that is huge and you did it
17:32 Without Partners as I mentioned in every episode unit Count's easy to flash the fact that I have twice the units and a quarter of the
17:40 equity Matt is orders of magnitude larger than me and he has 30-year fix rate debt on basically the entire thing
17:49 it's true at what is average average interest rate four or I'm hanging up this
17:57 is I mean let's say you know it was like having been around long enough and seeing the Cycles when we saw that massive dip I literally just like you
18:05 guys did tried to pull on everything I possibly could and so I pulled on every bank and I talked all of them and One Bank was you know really open to to
18:13 doing something uh outside the box um it was because we had personal relationship it was a we always preach you know two
18:20 billion assets under management are smaller um and we were able to put together a product and so you know 93% of my portfolio right now 93% of it is
18:29 30-year fixed rate debt and that's where we want to be so 30-year fixed rate debt and the cool thing is is that it's at
18:36 four um that's our average is four so we have some that's a bit un we have a lot that's just under four we have some at four and then we have a few assets that
18:45 are you know above four so yeah we carry about a about a 4% uh interest rate average um and that obviously creates a
18:55 lot of uh a lot of cash flow that allows us to do a lot of these projects in cash and out of cash where we don't actually
19:02 have to borrow debt um but I like to borrow debt too I like to borrow debt we on this jail because you asked we took we did financing but I'm a big fan of
19:10 the construction loan I get to lock in my rate in the beginning and then I get zero% uh I get I get uh interest only for the first 18
19:19 months and what was really cool is because we were going down this path I actually was able to go to the town and we actually it was in an opportunity Zone and so I went and found out what
19:27 all that meant and then went to the town and I got uh my tax bill stayed for seven years which saves me
19:35 $192,000 in taxes and that's on that's the current tax bill not the what the future tax would have been this is the
19:42 stuff that Matt is a freak of nature at you write your own loan products you nego like you can get into the details
19:50 I'm a board game guy I wouldn't want to play a board game against you I love board games I I could tell because you're G like oh well if I I don't know
19:58 anything about this but oh can I exploit this imagine for you nerds out there imagine playing Magic the Gathering against this guy like the combos this
20:06 guy would think of is yeah we gonna get tax abated here we're gonna get this type of loan over here oh the product I need doesn't exist I'll go ahead and
20:14 write it yep I think you're the most qualified person I've ever met to answer this question sure qualifications to be
20:21 successful I get one of the most common things that I get is feedback from my channel from my mentorship from anything
20:29 that we do people go hey I don't think I'm ready yet or I'm feeling I'm I'm overwhelmed or hey it worked for it worked for these
20:38 people I don't think it's going to work for me you've been successful in your career you've been successful in your marriage you've been success which is by
20:45 the way my favorite of all the things that you've done that's a that's a big deal and that's a hard thing for most people uh it's it's a big deal um you're
20:54 solid in your faith you have a huge portfolio you've been a very successful investor uh what were your qualifications going into all
21:03 of these things like your your starting point like the fantasy degree Rich parent like what what is the the
21:10 Baseline that qualified you for all of the success nth grade Dropout that's what I'm talking about baby TI Dropout that was it how does
21:19 that work on a resume applying for like te tech jobs you obviously have to just earn it by being good yeah you just have to be the best if you're the best they
21:27 so as you get later in your career so in the very beginning um when I would interview they would say you know so um so I don't see your education on here I
21:34 said yeah that's correct and they would say well they would say so where where did you go I said I didn't go anywhere I actually was a high school dropout I
21:41 started working really young and and learning uh just how to earn a living and how to how to make money I said that's what I was really focused on um
21:49 and they go oh and I said oh I I'm I'm sorry what I meant to what I want to add to that is is I don't hold it against anybody that went to college like I
21:59 understand that they all kind of learn the same stuff and all do the same kind of thing I don't hold it against them because usually once I start working
22:06 with them they'll get a whole lot better because they recognize what's actually important which is not the piece of paper on the wall so it you know we turn
22:13 it around into a strength and they kind of usually I get a chuckle out of that and so it's really funny because I've gotten every job I've ever interviewed for and that was with not hitting any of
22:22 the any any of the gates when it came to education or career or or you know where I was from or who I knew I always would
22:30 just get the job the barriers to entry for almost everyone that by the way we didn't we didn't prescript this you said literally exactly what I was hoping you
22:38 would say uh the barriers entry are in your head uh for the most part you get to do it took me longer than Matt to
22:46 figure this out it took me an eight-year career to figure out I didn't need the career and nothing I had ever done in my entire career did anything to prepare me to be an investor working at the co-star
22:56 group cool I was around other owners and Banks you know how many of them have lent on my deal or I've called zero none
23:04 different different skill set you want to be an entrepreneur or you want to be successful in a career the sales skills and the negotiation skills which anyone
23:12 can learn without going to school uh that gets you everything if
23:20 you can present to other people and you can convince other people that your good ideas are good ideas you can do everything the amount
23:29 of money you can touch is basically unlimited uh the jobs that you can get are unlimited Matt has no qualifications
23:36 for everyone who ever calls either of us and goes like Oh I don't know if I can do this shut up yes you
23:43 can you absolutely can I think what's really interesting about kind of the whole perception of things is I'm not really a mindset guy I'm just like I
23:51 have to do it so I do it like I just like I don't have my only other option my option is to sit there and do nothing or to do something and if I do it I need
23:59 to do it to my best ability and ask questions and try and figure it out and you know ask people that have done like one of my favorite ads slash one of my
24:07 least favorite ads is if you can see her you can be here well if you can see him you can be him too like it really comes down to watching somebody that's doing
24:16 what you want to do and then you know get as much as you can from videos or talks that they do or podcasts get as
24:23 much as you can for free and then see where that leaves you and if you want to accelerate that then you start engaging on higher levels you know whether it's
24:31 uh you know Gary vaynerchuk I'm I like him I hate hustle porn but I like Gary I think I think he's awesome but I hate
24:38 hustle porn but you spend 15,000 bucks a month to have or 15,000 bucks to have lunch with him and if you watch all those recorded
24:46 lunches you get about 80% 85% of what you probably need as an individual the other 15% fine go contract to get the
24:55 other 15% but 85 to 90% of it you can get it all there and then it's you know when you really come in contact and
25:03 really try and go through like a mentoring process well that just helps speed things up for you that's what the focus is there that's just really to
25:10 speed things up and get better focus and then create a personal relationship with the person who's actually done this thing that's what I like so much about
25:17 your course that's what I like so much about mine is they're very hands off and handson and then people get in there and they got to do the work they're listening to the work they're talking
25:25 about the work every single week because we want to see you succeed we want to see you get better we want to see a difference in you in for us it's 12
25:32 weeks it's a set a period of time but we have people purchased through the process and that's we love watching we love helping them get that thing going
25:40 well and that's the thing with with because this is such a huge problem that we see just in like media today is like everyone's trying to make a buck off of
25:48 other people see all these like stupid courses and the the number there's really two things that you look for I think when you're looking for a mentor
25:56 one and most importantly is it someone who has done what you want to do not someone who's teaching it not someone who is flashing a sports car or a boat
26:03 or a like whatever um because notice well yes Matt and I both do have big houses um we're not flashy people Matt's
26:11 not sitting here rocking this diamond studded watch uh
26:18 yeah not not not wearing jewelry uh wearing flannel black t-shirts hats like we are not flashy people you're looking
26:27 for the people who exactly what Matt said my options are to get it done or to not get it done they're not mindset people they're not motivational speakers
26:34 it's people who do that's number one number two you're looking for a mentorship where you just get what you pay for there this is the Trap that I'm
26:41 seeing online right now for almost every major like these multi-million dollar courses and
26:49 mentorships what they're doing is they intentionally don't teach you enough but they have a big upsell it's like oh get
26:56 my community for five grand they don't teach you enough and go oh you know what what you're really looking for is my $25,000 program and you get their $25,000 program they're like oh you know
27:04 what you're in my high ticket thing you need a little bit more support I have some software for you uh you need to join my subscription community so you
27:12 can access the C and what you end up doing is you pay them endlessly and the whole goal is to not teach you
27:20 everything so you need them to do the thing even if their thing technically Works they build it so you need them
27:28 this is something I like I will I do not endorse other people's stuff directly on podcast ever I have taken Matt's course
27:36 I will directly endorse it you get exactly what you pay for and Matt has nothing else to sell you there is no there is no upsell um it's
27:44 really simple it's not a huge long course or mentorship it is a simple product that works where you get access
27:52 to the person who is teaching what you wanted to learn that's why it works the fact that is not that expensive and it's
28:00 28 minutesthere's not a 50 step process and a app that you buy that's not a downside that's why the thing works because you
28:07 don't need it real estate is simple anyone who's telling you a complicated method to get into real estate doesn't understand real estate like no it's
28:16 crazy some of the stuff that we see is just absolutely nuts and so yeah I I appreciate you saying that about my course I mean I've taken yours and again
28:23 the the idea is you want to learn these really important life lesson life block you know blocking and tackling Concepts
28:32 and then you go a mile deep in those areas where you're just like wow that's the part that really gets me going about it it's acquisition or it's
28:39 self-management or it's you know buying big stuff or it's buying a bunch of small stuff or whatever the whatever you want it to be is what you think can then
28:48 kind of make it but the idea is in all of these processes you learn very very honestly you learn that the usually the
28:55 teachers in these two classes I.E us we're still doing deals every single day I just my most recent deal I signed last
29:02 Monday like we're still doing deals every single month we're still making offers we're still trying to close on deals I will stop coaching if I ever
29:09 make more in coaching than I do in real estate the main business is the main business right we are experts in our
29:17 field uh I still I've used your some of your like decentralized management strategies for how you use like how
29:25 you've used Brokers to do showings I have my own teams for these but sometimes like people like there's too many showings I'm like perfect uh I have
29:33 an actual text group called The Minions internally but I have my chief of the minions who like when we have I'm like a minion can do that we have a bunch of
29:41 tasks where I'm like what are you blowing your time on you are more valuable than that send it to the minions and they send it out to the minions and for 10 or 20 bucks all these
29:50 little tasks can get done for PM from the army of people out there who would love to make 10 or 20 bucks I invested in a college town do you know how easy
29:57 it is to get college students to do your notice postings instead of drive out there it costs nothing it's basically
30:04 free and you free up your team's time for your people who are worth $50 an hour they can offload to the minion Squad I I took that idea from how Matt
30:13 was running his unit showings I'm like we can do this for everything um yeah yeah I got my contractor minions first
30:21 come first serve text goes out to the group hey guys this is the project this is the pay uh who's available everyone subscribe to this group and they're like
30:29 hey um I want to be in this pool I understand how this works if I'm available we get out there I can get unit turns in Stephenville Texas done in
30:36 24 hours I have a move out goes to the squad who's available today to get in here I think it's a light turn here's
30:45 pictures of the unit send me pictures when you're done 24 hours later it's on the market and it's getting leased that is a mat Hawkin special i' I've
30:53 commandeered that from him uh I've named it the minion Squad but the types of stuff that you can do as a manager
31:01 that's what it looks like when you're a get it done sort of person there's no super cool method there's not like oh yeah I developed this amazing app that
31:09 you need to buy it's um here build this network and then send a text to a bunch of people and have them basically bid
31:16 against each other to get in get it done get it done right and then tailor that team over time until you get people who
31:24 like hey this person's always consistent and now you end up with this elite team team and you can you can run your business cheaper you can run your
31:31 business faster you become unbelievably efficient which affects net operating income on every property which makes you
31:40 Millions on your millions and it's the easy stuff that makes all the money it there go there are big things but it's the big money I
31:48 found is made in the little efficiencies yeah it's the it's this it's the death by a Thousand Cuts this is the opposite of that yeah you know it's the opposite
31:57 of that I we don't have Death By A Thousand Cuts we run th Band-Aids exactly we have we have you know about
32:03 160 units and we have one employee and everything is automated everything is
32:10 automated through our uh our property management system and our answering
32:16 system um and that cost to us a month is about $237 for both of them so we are fully
32:25 automated for 237 bucks a month because I wanted to be completely automated and that way my guys and everything that happens or whatever comes up like I'm
32:33 not getting awake at 2:00 in the morning so where yeah we're 100% automated for less than 300 bucks a month um and that's one of the things that we teach
32:40 people how to do so they don't have to necessarily take that phone call most importantly is if it's an emergency why do I need to be the guy that calls the
32:48 guy like let's just let you call him directly so yeah there's a lot of ways that you can do it uh but yeah we I coming from a background of uh
32:56 artificial intelligence and RPA I was able to figure out how to better uh manage the business this way and so that's what we have kind of set up and
33:03 like I said less than 300 bucks a month you're good it's amazing it's awesome Matt it's been awesome having you on the pot again uh we will definitely bring you back again this is like that is
33:12 legitimately my favorite investor that hands down no competition uh this is the guy um you need life advice Matt probably has it you need Partin advice
33:21 Matt probably have it give meites Matt definitely has it uh no I appreciate having you on man awesome having you
33:28 again we'll bring you back soon everyone uh if you do not follow him on YouTube uh he is Lumberjack landlord on YouTube
33:36 amazing Channel you go live every is it Sunday th so we changed from Sundays just recently so we went to H Thursday nights 900 PM eastern time because we
33:43 wanted to make sure that the West Coast got a chance to get involved so 6 PM uh Pacific time and uh 8:00 pm Central Time
33:51 and 900 PM eastern time on Thursday nights we go live for 90 minutes and I just answer your questions free of charge just come hang out awesome
33:58 awesome well join that you guys are also welcome to multi family strategy lives which are Wednesday nights at uh five central I had to think about that 5
34:05 Central so um not as kind to the West Coast uh middle of your work day but all you nine to FS don't work anyway so tune
34:13 in we'll see you guys on both the lives Matt awesome seeing you we'll see everyone on the next episode