163 Risk Factors To Consider When Doing Research On Funds | Passive Accredited Investor Show
In today’s episode, the team talks about some of the risk factors you should consider when doing research on funds.
First off, it’s all about you. What are your needs? Where are you investing? Are you in growth? Are you in maintenance? Most importantly you need to remember that all these factors are subject to change over time.
To learn more valuable information, watch this video.
To learn more valuable information, watch this video.
Join the Carolina Capital Management team every Thursday at 1 pm ET LIVE! in Passive Accredited Investor Show.
0:01 – Introduction
1:13 – Wednesday with Wendy: https://calendly.com/wendysweet/wednesdays-with-wendy
2:44 – Breaking News
3:06 – Consumer price numbers for June
4:19 – Labor cost will continue to go up
5:18 – Employment Numbers
7:00 – Today’s Ugly Question: What Are Some Of The Risk Factors I Should Consider When Doing Research On Funds?
7:23 – It’s all about you first
8:39 – Focus on the manager
9:45 – The type of investment
13:15 – How long is the commitment that you are making
15:47 – How diversified is the investment
14:42 – How do the manager and the investor get paid
19:20 – Are the expected returns based on the ongoing income from the fund or are they based on the future value
Carolina Capital is a hard money lender serving the needs of the “Real Estate Investor” and the “Small Builder” borrower who is striving to build wealth and generate income for themselves and their families. We offer “hard money rehab loans” and “Ground-up Construction Loans” for investors only in NC, SC, GA, VA, and TN (some areas of FL, as well).
As part of our business practices, we also serve as consultants for investors guiding them to network with other investors and educating them in locating and structuring transactions. Rarely, if ever, will you find a hard money lender willing to invest in your success like Carolina Capital Management.
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Bill Fairman (00:01):
It’s about time we’re live because I can’t hold this smile for so long. Anyway, thank you so much for joining us on the Real Estate Investors Show. We have a wonderful guest. I’m not going to give away the name yet but he’s a real estate investor has been doing so for more than 15 years, an author, real estate agent as well, I believe, a broker but we’ll make sure that we find that out right after this.
Bill Fairman (00:46):
Hey, everybody. Thanks for joining us again. Jonathan and I look gray, tan. We were both on vacation, not together, but in a similar area. A lot of sunshine, a lot of beach, a lot of adult beverages in the sand. Once again, thanks for joining us on the Real Estate Investors Show, Hard Money for Real Estate Investors. We are Carolina Capital Management. We’re lenders for real estate investors in the south east. If you’re interested in borrowing money, go to CarolinaHardMoney.com. Click on the apply now tab. If you’re a passive investor, looking for passive returns, click on the accredited investor tab, and don’t forget to like share subscribe, hit the bell and also don’t forget to sign up for Wednesday with Wendy.
Bill Fairman (01:52):
Yeah, I always forget my pause to show our wonderful graphics.
Jonathan Davis (01:56):
I never knew you paused. I thought it was just one, long, winded conversation.
Bill Fairman (01:59):
I didn’t really paused. He just turned my mic off. That’s what they do to me. Wednesday with Wendy is Wendy’s way of giving back, she puts a one day a week and obviously it’s Wednesday.
Jonathan Davis (02:19):
Anything. If you have any questions about real estate or building your own real estate, empire portfolio, whatever it is.
Bill Fairman (02:27):
Yeah. And she, and again, it’s 30 minutes. It’s a, one-on-one all you have to do is sign up. There’s the link get on her calendar. She usually is a couple of months out. So I go ahead and sign up. Even if you don’t have anything to talk to her about by the time your turn comes around, you will.
Jonathan Davis (02:43):
Bill Fairman (02:45):
All right. So without further ado, our friend Max Keller, I want to introduce him, come on Max. It’s great to see you. Thank you so much for joining us today.
Max Keller (02:54):
What’s happening? Good to see you!
Bill Fairman (02:56):
Your hands are in so many things and you’re unbelievable. I don’t see how you get so much accomplished in a short period of time. Do me a favor though, give us a little summary of how you got started in the real estate business.
Max Keller (03:10):
Sure. Well, it was by accident and sort of by necessity. So I started out, I was teaching before I got into real estate, my family was growing. I wanted to make more income. So I was just going to do real estate part-time, you know, get a couple of rentals a year or something like that. And just kind of build something, you know, a little bit extra. And then I started doing real estate in 2015. I had started as early as 20 or 2005, but I just didn’t know what I was doing. And I couldn’t seem to put all the pieces together. And so then, you know, fast forward 2015, I started making good chunks of active income. And I was like, you know, I should probably just keep doing this for, you know, this could easily, you know, a few deals as my whole teacher salary.
Max Keller (03:55):
So, I just, I decided to leave teaching, just go full-time real estate and just start scaling it up, built out a little office and started doing more deals. And then, you know, there was definitely some market challenges, probably like 2017. And that’s where I kind of decided to pivot a little bit and focus on a particular niche, which we’ll talk about later. And then I decided to find kind of a new way to market for leads. And you know, we’ll cover some of that too and give folks listening an idea if you’re in a market where deals are tight and it’s tough to, you know, get people to call you back and just, you know, even sell their house, maybe, you know, what I’ve done is, can be instructional and help you.
Bill Fairman (04:38):
Excellent. And by the way, everyone, Wendy is in transit. She’s on her way to Jackson, Mississippi to work with Walter Walford down there on a short term rental conference but she will be passing through TSA soon and try and join us at the airport. Max, are you a real estate broker as well? Are you licensed?
Max Keller (05:05):
Yeah, I’m licensed as an agent, but I am licensed in a state that I don’t live in. I just did it to build an exp team. We get paid on the overrides underneath because I was doing deals here and in my state, I didn’t have time to go work them, but I couldn’t really legally, you know, I mean, I know people do it, but you’re not supposed to. I don’t want to, I don’t want to be in the gray area. I just, we don’t have to, this is a good business, just do it right. So I just went and got my license and then, I can, now I can, you know, take my lead, send them to somebody and still get to monetize them without having to, you know, work on myself.
Bill Fairman (05:41):
No, I understood. I would like to, I know we got some other stuff to cover, but I loved the book that you did home to home, help helping people figure out what to do with aging parents. What do you do with the assets? How do you get the best bang for your buck? You want to, you want to talk about that and just a little bit?
Max Keller (06:08):
Yeah. So what happened was, is it’s 2017. I’m two years into flipping houses. I’ve done about 120 houses personally, in these last five years, but I’m going at about deal number 40 or so 2017 and the competition I’m in Dallas, Fort worth, Texas, the competition just started going way up. I was, it wasn’t for lack of effort. I mean, like I was, I was doing yellow letters. I was cold calling. I had two people that were helping me buy houses. You know, I was doing all this stuff that, you know, they you’re supposed to do, but my return on ad spend just kept getting lower and lower. And the reason was because pretty much everybody in my market was inundating the same people with the same message. And I was just another investor in the stack of mail. And so what I did was, go ahead. Yeah.
Jonathan Davis (06:59):
You’re this noise and you know they couldn’t differentiate you from anyone else.
Max Keller (07:03):
Exactly, exactly. So what I did was I made a list. I was actually getting really frustrated with the business because I just felt like a commodity. And so I was like, I’m either going to do something a little different or I’m going to just leave and not do this anymore. Cause it’s just not worth it. So I made a list of the things that like actually mattered to me. And so for me, I wanted to do deals where I made a good profit on a deal, takes me about the same amount of time to do a high profit deal as a skinny one. So I want to just do those. I don’t care. I’m not worried about impressing people with how many deals I do. I’d rather matter of fact, I’d rather do 12 deals that are really, really amazing than 36 thin ones, because I don’t have as much risk on those.
Max Keller (07:41):
So more margin, my lenders are all super happy when you have higher margin deals on and on and on. So I wanted to do those. I wanted to work with people that actually like saw me as a trusted guide for them, not just, you know, I would go and like show cops to people at their houses. And they would argue with me. I’ve never even, I don’t even, they don’t know what’s going on with their neighborhood, you know, not being disrespectful, but it’s like, I’m the professional here, not you. Otherwise, why are you calling me? And so I didn’t like that. I liked working with people who were like, we need your help, please help us. Thank you. And I just want to work with people that were just nice people, you know, I’d have some people call me, I’d have to. I went to the grand Prairie, our city in our town jail to go bail, somebody out of jail to go to the closing.
Max Keller (08:27):
I’m just like, I really get to this point in my life to be doing this? Is this the highest and best use of my time? Like I just I’d have people who are, they call me one minute and they were happy. Then the next minute they call screaming and cussing. And I’m like, I’m just not, this is not where I’m at. Okay. And so here’s what happened. So most of my lists, most of the deals that I’ve already done, they didn’t meet all three of those criteria, which was obvious. Cause that’s why I wasn’t very happy, but the ones who did you did, you didn’t have to be a math teacher to figure out what the pattern was. They were all seniors. And I was like, huh. And so I dug deeper and I looked into it and I found out that most of these seniors, the leads that I was getting, they weren’t coming from my normal campaigns.
Max Keller (09:11):
They weren’t on, you know, the, the full pre-foreclosure list. A lot of them own their houses outright. And when I went over to their houses, sometimes when I would buy them, I wouldn’t even have the highest offer. And so I called one of those sellers and I said, Hey, do you remember me? I bought your house like about six months ago. And they’re like, yeah, I go, well, did you have a higher offer from someone else? And they’re like, yeah. And I go, well, why did you go with me? And they said, basically it’s because they trusted me. And they felt like I was actually there trying to help their parents, not just give them a sales pitch and for them where they were in their life, that that was, you know, that was worth more than $10,000 difference. And so that, that was kind of the aha moment.
Max Keller (09:56):
I didn’t get the idea for the book until I was actually bought a house at a motivated seller’s house. And the dad was there. I helped him find a new place to live, bought the house in Richland Hills, Texas. And all of his kids were there and they were all in their like fifties, sixties, you know, that’s the age when, you know, your parents start to get up there and you’re dealing with all this. And they said, they were really appreciative, you know, like one of them was crying, you know, because the family homes being sold, like they’re in their fifties and sixties and they grew up in that house, but they needed to. You know, the dad can, was falling down. He couldn’t take care of himself. And I was like, so one of them came up to me and they said, you know, you’ve helped our family a ton, you know, a lot about this, you know, you should write a book about this. And if I was getting picked in high school as least likely to write a book or even read a book, it would have been me out of 500 kids. Like I was like, there’s no way I’m writing a book. You know, I’m going to
Jonathan Davis (10:56):
We get judge by what we do in high school, huh?
Max Keller (10:59):
You know, I’m like, I’m dyslexic. I can’t write a book, turns out that people can help you. And you know, it just takes a little longer. And so at first I was like, no, I’m not doing that. But then I said, you know, that’s actually a good idea. I’ve seen people in other industries, you know, in other verticals, use a book and position themselves as an expert, as an authority. And it was really effective. And so I was like, I’ll give it a go. I basically just wrote down all the questions that these homeowners were asking me, you know, all the questions that they should know, just kind of like a peer behind the curtain kind of book. And I just, it’s just a, how to informational guide. And it took a couple of hundred hours to write it. I wrote it and that was the first book.
Max Keller (11:41):
And I just started giving it out to my, just my normal marketing. But I would let people know about the book on it. And I get all these extra calls. And then I had a church call me up and they said, Hey, we got a copy of your book. Can you come in like speak and like, maybe sign some books and give them away to people. And you know, I had three workshops in one week, I got four deals. I actually just got a deal from it a few weeks ago. And the lady held on to my book for two years, which is nobody’s holding onto my yellow letters or postcards for two years. So it’s like, you know, I did this work once and I go get copies for $5 and I give them to somebody and they cherish it. It’s not a piece of trash.
Max Keller (12:22):
It’s not another one of those letters from those, you know, sharks or scumbags or whatever they call real estate investors sometimes. Cause so there were a few people giving us a bad name. They’re like, oh, here’s a really nice young man. Who’s trying to help people, which is true. And I’m trying to build my business and you know, investors are smart. So my friends and my mastermind were like, Hey, I like what you’re doing with this. You know, you’re not buying houses in Florida. You’re not buying houses in Chicago. Can we use your book somehow? And I’m like, I don’t know, what? Like I don’t understand. And then I kind of started learning more about it and figuring it out. And then we created a licensing program to where our authors, which are normally experienced investors, brokers, agents, they see the value of a book, but they don’t want to write one themselves.
Max Keller (13:11):
So they pay a flat fee. They fill out a form, it takes about an hour and we customize and create an edition just for them. They pick the title, they pick the cover, we write in about them. So in like one hour of their time and less than 30 days, they have a book done for motivated sellers or private lenders, you know, whoever we have different ones. And then they can just give it out and use it as their business card. And it’s kinda cool. Cause it allows you to like, just make the other stuff that you already do work better because when you have a book, people just trust you more people who aren’t ready to do something, just call you to get a free copy of the book. But then it also opens up some new stuff, new marketing channels, cause marketing is important.
Max Keller (13:56):
And if you’re not getting leads in your business, you don’t have a business. And so I knew it was like a important area. I didn’t know what it would all turn into. I didn’t expect there to be a publishing company or any of that. It just sort of happened. So, you know, when you said at the beginning, I mean a lot of things really, I’m just, I’m in the marketing of a lot of things, but it was all about marketing because every company needs that every it’s the most important scale. So this has been a way that we can kind of, you know, turn up the horsepower and create something once and get a benefit from it for a long time.
Bill Fairman (14:33):
Absolutely. And marketing is not just one or two things. It’s the mini spokes in the wheel that it takes to get your name out there and give people an opportunity to decide really whether they want to do business with you before they ever talked to you.
Jonathan Davis (14:48):
He found a great way to, you know, basically all those transactional people on all the relational people like that. That’s what you want. That’s great.
Bill Fairman (14:59):
Absolutely. So I liked the fact that you also came out with a workbook that went along with the, with the book. So you could sit down with the family and go through a family plan and figure out where each one is individually. Almost like a financial planner would that’s
Max Keller (15:17):
Well, yeah, what’d you say is exactly right. And that’s been the best part of the whole thing is because this, see, everybody’s talking about foreclosures and evictions, it’s stimulus money. That’s not the real story. The real story in real estate right now in single family, real estate is that real estate right now is going through or, or when’s the market gonna reset or all these questions that don’t matter. The question that matters what are you going to do? And how are you going to come through the other side when real estate is going through the largest disruption in its entire history wall street is buying hundreds of thousands of homes they’re paying 30 or 40 grand more than you could ever imagine paying in a million years. And they’re trying to disrupt and get rid of all the transactional people in our business.
Max Keller (16:07):
And the reason is because real estate, transactional real estate is a $1.6 billion market. It’s the largest undisrupted market. So if we look at financial services, which actually we modeled this entire program off of, and I got a lot of the ideas from that because in the late nineties, when the internet started, I was in college and I wanted to be in financial services. I wanted to be a stockbroker. You remember those? Right? 20 to $50 a trade. Now there’s no, there’s no, you don’t pay anything for trades. But what happened was is that the stock brokers, by the time I got to college, I couldn’t be a stock member because they had already pivoted from stockbroker to financial advisor. Those were the people like people knew that they were paying more to work with a financial advisor. They knew that it wasn’t like they were, it was a secret every year that financial advisors have been in our, in our, in our country that the industry has grown. The profits have grown, you know, cause the population is growing of those assets. There’s always a percentage of people in every market that will pay more for something extra. And, and that’s what happened with financial services. And so it was like, but the same disruption happened. Wall street came in, they undercut the fees and, and they went to online. Now, are there still people that processed stock trades? Sure. Do you think most of the stock trades are being processed by people or software?
Bill Fairman (17:40):
I would say it was the keyboard
Max Keller (17:42):
And those exact same things happen in real estate. And if you don’t know what to do, you’re going to be out of, you’re going to be selling insurance and five years you’d be totally out of business because wall street wiped out all the stock brokers and by 2024, you’re not getting $50 a trade to be a stockbroker. Nobody gets that. But you can, if you have a financial advisor. So I was like, well, who’s the financial advisor? Non-fiduciary, okay. Of course in our industry. All I see is a bunch of salespeople that talk about their option and not anybody else’s, especially one that doesn’t point to them money-wise. And I said, what can we do? How can we position ourselves to where we’re giving people more value, not just the postcard and we’re in these folks’ homes. Cause here’s the other thing I noticed, you know, I got a CPA and a tax planning attorney, you know, you’re doing great.
Max Keller (18:33):
So I know you will do too. But I would go and hang out with my friends on the weekends at these cool locations and masterminds and stuff. I see you there. And, and we’d be talking to our financial people, especially towards the end of the year. And then I go home and I go meet with Mavis, who was a bus driver and she’s got a home and it’s beat up and she’s got mature grandkids that won’t, you know, leave the house and she’s on our album and she’s got a little pension. She don’t have no CPA. She doesn’t have a probated. She didn’t have an attorney, a tax planning attorney. And I was like, who is going to help these people? Because there’s nobody has a vested interest. There’s no financial advisor going to talk to somebody that has no assets. You know, you would have no business.
Max Keller (19:17):
And so I was like, man, I noticed. I noticed when I was a teacher, I taught at an inner city school and I taught kids who were struggling. They were two years behind. These were ninth graders that should have been juniors. And I taught, they didn’t have no food to eat. You know? I mean, it’s a tough, tough thing. And then I teach some kids that were the pre AP eighth graders that were going to Vanderbilt and all these big schools. And what I noticed was is that I had the closest relationship by far with the kids that struggled the most because they had the biggest gaps in their learning. And I could help them, you know, with that. I mean, I could help them go into their games and just be like a person that cares about them. But they, when, when they have more needs and you help fill those needs, those people trust you more and they just love you more. Then the pre AP honors kids, I mean, they were nice to me, but they didn’t really need my help. They could roll in and make a 95 without really doing nothing. They were really smart. And, and so I kind of saw the same thing with the motivated sellers and in the seniors, there’s this huge group of people and it’s a massive group and it’s the fastest growing group in the entire country. So it’s like, so why would you not want to work with them? So I’m like, we can, we can in a real leverage effective way, take a 2000 year old proven strategy, which is books and tablets and just written down communication. We could give it out to people. They cherish it. They keep it forever. It’s like a bandit sign. That’s in their living room. So we don’t put them out on the street anymore.
Max Keller (20:50):
We put them on our coffee table and our book competes with all the other autographed books from the local real estate entrepreneurs, which is like zero. And so, and so we, we just found that doing the workbook, sitting with those books, folks, my vision for it was kind of like, for it to be like the Dave Ramsey, financial peace university, which I’ve been, I went through a couple of times, I taught it at my church. I thought it was a great program. Is it going to make you wealthy now, but is it going to help you get to break even when you’re struggling? Yeah. Yeah. And so I just noticed that when I taught that class, it was people from all walks of life. We had dog groomers, we had attorneys, we had young people, we had old people. And, and so there’s a lot of people haven’t figured out this money thing.
Max Keller (21:35):
There’s a lot of people haven’t figured out what they’re going to do with their house when they get old. And we have positioned ourselves to be the clear choice. And now we have about 120 people who license our content across the nation. Where are the, where are the clear choice for those people to work with? Because who else are they going to work with us? A sales person, we call it pivoting from going from Dan Kennedy calls it. How do you pivot from being an annoying pest to a welcome to guest?
Bill Fairman (22:03):
Max Keller (22:03):
That’s the difference.
Bill Fairman (22:05):
No, I love that. And there there’s, listen. You know, actually, cash at your area. And then I know she had been talking several years ago about the same problem that you face with the competition in the Dallas Fort worth area. And she found, found the same way she was appealing to seniors where their interest wasn’t in the immediate capital gain. It was more of I’m having to move on. Is there a way that I can sell this home, possibly owner finance it and then not have to deal with the immediate capital gain. And then if something happens to me later, the payments would go onto my heirs. And those are niches that the vast majority of high performance wholesale companies or fix and flip companies, they don’t tap into this. They’re either transactional. I’m either going to get you or I’m moving on to the next one.
Jonathan Davis (23:08):
It baffles me, they try to like focus on this whole millennial vibe when the largest poll of homeowners and home buyers are 65 and older. It’s like, it doesn’t make any sense.
Max Keller (23:20):
It’s yeah. I mean, you know, can you make money doing transit? You know, there’s two ways to get deals, transactional and relational, you know, a transaction, the reason a transactional minded person doesn’t do what we do. One could be that they just don’t know about it, but mostly it’s because they’re transactional minded. They don’t give a damn about people. They’re just focused on making money and people are an unnecessary evil that get in the way of making money. And some people just feel like that. That’s fine. I’m not saying they’re bad. I’m not judging them. That’s up to them. It’s just, I never felt like that. I always felt, I always felt like my strength was the relational part and I was a teacher. So like teaching people stuff, I feel like I’m helping them. If I, you know, I took care of my grandma for about 15 years.
Max Keller (24:04):
She took care of me. So we kind of switched, took turns. And you know, the bottom line is like, I was that person for her when she would get reverse mortgage offers and grandpa died in 87 and she lived almost another 25 years on her own. And so, you know, she would get all these offers from all these people trying to sell her stuff and they acted like they were trying to help her, but she wasn’t stupid. You know, she might’ve only, you know, she had to learn English. You know, when she was probably like five or six, she learned English. She never really went all the way through high school or anything like that grew up on a farm, but she was smart. People can figure out when you’re trying to help them. And when you’re trying to just help yourself. And so you don’t even have to say anything, they’ll figure it out. It’s a feeling it comes through, you know, it’s about your intentions. And so people whose intentions is just to churn through as many deals as possible and make money. They’re not a good fit for our program and that’s okay. They’re going to do what they’re doing and it’s all good. But if you, you know, the intention is really what it comes down to.
Bill Fairman (25:07):
Yeah, I agree. And there are people that have certain personality types that aren’t really good with people when they get, they have to deal with them because they have to. And then at the end of the day, they want to try and wipe them all off of them. And those tend to be a little bit more transactional. The thing I never understood about the people that do not commit to the relational relationship is that you’re going to end up getting more business from that. And you’re going to, always going to get warm leads because these people felt really good about you helping them. And they really believed you help them. You think they’re not going to tell other people about your services.
Max Keller (25:54):
And that’s the thing is, is like the people we actually get the most referrals from are the people that we don’t ever do business with. That’s a little secret most people don’t understand it’s because when you really like, I mean, it’s easy for us to come to the conclusion that the strategy that they need is something that we can help them with and we make money. Well, of course, we’re going to be happy about that. What’s a lot harder as a business owner is when you know, the person sitting across from you really needs a different strategy than you can profit from. And then you just straight up tell them that. But that’s the difference between there’s always going to be short-term people and long-term people in every business and every industry and because short-term feels better and it’s more exciting. And I don’t know why people, I mean, you would never eat a burger if you’re really, I mean, it’s not good for you, but people do it. Short-term or long-term, you know, I always say it’s, you know, hard choices now, easy choices later, where, where on the converse, it’s, you know, easy choices now, hard choices later. And so if you’re going to be in real estate for a while, if you only had to real estate for a couple years and just crush it with your straight build hat, and it’s so big and you’re, and you’re appealing to these buyers that will, you know, these people who are going to these buyers, like, I don’t know about you, but like, for me, seniors, I’ve noticed they’re slow to trust because so many people are trying to come at them with stuff. But when they do trust you, they’re extremely loyal. They’re not going to sell you out for a hundred bucks or a thousand bucks or $10,000 difference. So being transactional in our business, it’s not going to work because you’re going to get, you’re trying to fight a price war with wall street that you can’t win.
Max Keller (27:36):
Like right now in your city. There’s hundreds of people that have a smartphone and they upload pictures of their house. And they’re getting an offer for their house, all cash for 20, 30, $50,000, more than you could ever pay in a million years. So do you think that that kind of technology, you know, Jeff Bezos said, it’s really hard to tell what’s going to change in the, in the next five or 10 years because the future is uncertain. What’s easier to predict is what’s not going to change. Well, here’s what we’re betting on. What’s not going to change as the fastest growing demographic in our country by far by a landslide is going to be seniors. What’s not gonna change is wall Street’s appetite to buy these single family homes because the returns are good and what’s not gonna change is their ability to pay more than a regular local person and push out every transaction, a real estate person.
Max Keller (28:33):
Pretty soon the real estate agent is going to be like the taxi cab driver. And they’re going to get totally pushed out because why would somebody pay them 3%? If, if they can go on Redfin and get 1% deal, I’ll tell you why. Because back to what I said earlier, because ever in every single market, there’s always a group of people that are willing to pay more, to have a trusted guide, help them walk through a complicated situation. That will be the last piece of the business that is left for people to participate in. So they can either figure it out. Now, figure it out, never, or, you know, start to consider the idea. And that’s really, that’s really all there is. There’s not really a ton of options at this time. Do y’all agree or disagree?
Bill Fairman (29:25):
Yeah, I agree. I’m sorry. We went away for just a moment. I don’t know what the heck happened, but all of a sudden our feed went away. But, you know, I’ve been following this through with all the hedge funds buying all this property. Yeah. I mean, they have a vested interest other than the fact they get good returns. They want to keep the values of these assets at a high level. So they continue to buy them. And if they start unloading any of them, it’s going to start that. I don’t think the values are going to go down, but the appreciation is going to be as, the percentage of the appreciation isn’t going to go up as high. But that being said, they also feel like the millennials, about 63% of millennials are never going to own. They’re always going to rent.
Max Keller (30:12):
Bill Fairman (30:13):
And so it is a great investment for them. And most of the vast majority of families want to rent a house, not an apartment. And so they are a great deal and they’re going to continue to be a great deal. That’s why we love the single family housing market. It is an easy, more liquid asset that you can get into in real estate. And we try to stay as far as the lender, we want to be in the affordable housing space because that’s even, I mean, that’s the most liquid and worst case scenario as far as we’re concerned is as the banking side of things is then if we ever have to take them back and we end up with another 2008 and everyone is a seller and no one is a buyer, I can still rent them out for what our expected return is going to be.
Bill Fairman (31:05):
You can’t do that with a million dollar house. So we, we love that space. We’re just about out of time here, but I wanted to ask you quickly, these books that you’re putting together and licensed licensing them out, first of all, your home to home, you have any states left?
Max Keller (31:26):
Bill Fairman (31:29):
Okay. And then you said you have one for private lenders. You have one for senior living as well, correct?
Max Keller (31:36):
Bill Fairman (31:37):
And you have opportunities for other people that may be in that industry to talk to you about customizing a book for them or licensing one out?
Max Keller (31:47):
Yeah. We can, what we do is we put a link down below that we have for a free copy of our newest books of this talk today is kind of spurge your mind. And you’re like, Hey, there’s something to this book thing. I like this idea. If you want to create a book yourself, we wrote the first book of its kind, it’s called the real estate investor book writing checklist. And you can go to DealsChasingYou.com/Sweet to get a copy of that. It’s basically the framework that we use for every book that we write. So it’s the framework that I didn’t really have when I wrote my first book. I had to write it and then get about halfway and rewrite it. And so, anyways, we sell that book, but I’m offering it to your audience just for a limited time, while this links up, you can download a copy of it for free.
Max Keller (32:31):
And then there’ll be some links on our website where you can kind of look at some of the trainings we have about the different types of systems. And then there’s, if you want to apply it’s by application only. You can click the link, see if your area is still available. Book a call to talk with somebody on my team and just, you know, see if it’s a good fit or not. If it is, then we’ll tell you what the next steps are. And if it’s not, we’ll point you in the direction that is best for you. It’s all good
Bill Fairman (32:58):
Excellent. Well, we’ll make sure we have that over in the chat section as well. Those of you, who are, are watching, you can copy that, that chat side too fairly easily. Oh, I forget. This is stream yard. In YouTube, you can copy it, the chat side fairly easily without having to copy and paste. Facebook, you can do the same thing. There’s a little place you can right click and it’ll just say, copy chat. Is there anything else that you would like to mention what else is going on with you that the people can get involved with?
Max Keller (33:37):
Let me think. Wow. That’s a great question. I don’t know. I’m not, I’ve just been reading a lot. I read a lot. I write a lot. Deals are good here in Dallas, I’m telling you, I’ll just say this, whether you license our book or you license somebody else’s book, or you write your own book, if you’ve never considered being an author and writing a book, and you’re a business owner in any industry, consider it. Okay. I haven’t found one thing in my whole I’m only 40, but you know, in my I’ve never found anything that’s even close. I may have people come up to me at the airport or want to get their picture with me. People I go speak at just like a local senior center. And they’re like so excited and they want to take the pictures and all this.
Max Keller (34:23):
And I’m like, I’m like the Moses Z list celebrity of all time. Like I already, I know that. Okay. But it’s like, and I’m not trying to be a celebrity. I’m cool. If you guys know about me and my family and some people at church and that’s it, I don’t even have my face on my book. I don’t care. I don’t care about all that. I’m not trying to get famous. I’m trying to help these seniors because they need our help. And I just couldn’t figure out a way to do it on my own. Unfortunately, 85% of books that are purchased are never read. And I don’t know what it is for a free book, but it’s probably even lower, but what’s cool is now with all the licensees, you know, our real estate professionals, they’ve got a vested interest to be able to use this education, to get in front of people, help them get to the next level, really teach them something. And so yeah, it’s just been really fun, but if you’ve never thought about a book, download the book writing checklist, the principles that we teach in that book apply to any industry and either write your own book or get into a licensed book. There’s pros and cons with each, but take a look at it because they still work. They work really well
Bill Fairman (35:30):
Well. You know, I had the same issue in the airports as well, but people stopped me and hand me their phone and asked me to take pictures of them. Max, it was great talking with you. Thank you so much for being on the show. Folks, Max has got a great way to help you market your business with utilizing a book and I’m telling you, at worst, it’s the best business card you could ever have. At best, it’s going to get you tons of business and it’s going to help people as well. So thanks again for joining us on the Real Estate Investors Show, Hard Money for Real Estate Investors. We are Carolina Capital Management and we make loans to real estate investors in the Southeast. If you’re interested in getting a loan, just go to our website, CarolinaHardMoney.com and click on the apply now tab, if you are a passive investor, looking for passive returns, click on the accredited investor tab, don’t forget to like share, subscribe, hit the bell. And once again, don’t forget to sign up for Wednesday with Wendy. We have another show coming up at one o’clock. We will talk to you later. Have a great day.