Depending on the size and specific needs of your business, there are some technologies you will need that other businesses don’t. But, no matter your industry, there are some essential technologies that can help you run your business more effectively by staying organized, keeping in touch, and maintaining your relationships.
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Today’s guest is Dylan Marma, who is a Principal of The Requity Group, the real estate investment company focused around the acquisition and operation of mobile home parks and multifamily real estate. He has been a principal on over 50 million dollars in real estate transactions over the last four years. Dylan is also the Co-Founder of a software platform called Equity Tree, an investment management system focused on helping real estate investors raise capital and improve investor reporting. In this episode, Dylan shares some of the project management, email management, customer relationship management, property management, storage, and deal management software that he has in his tech stack, and how he uses them to boost the performance of his business. Make sure not to miss this episode!
Key Points From This Episode:
- Dylan explains how he stays organized in the real estate business, using technology stacks.
- The importance of staying fluid as technology changes and then relearning new software.
- Project management software is key, with Asana being the lead one and Dylan’s favorite.
- Next is email management software, some favorites being ActiveCampaign and Mailchimp.
- Dylan recommends using a customer relationship management (CRM) tool, like Airtable.
- While one software can’t do everything, there is software that can connect the different platforms you use, like Zapier.
- There are a number of easy-to-use, third-party property management tools to choose from.
- Custom-built deal management software like Podio helps you automate and track workflows.
- While monday.com is better for building a database, but Asana is better for task management.
- Dylan likes Dropbox for document storage but prefers having storage on his computer.
- Dropbox versus Google Drive – compatibility with Excel is crucial for real estate investors.
- Equity Tree, the investor management software that Dylan co-founded, and why it is unique.
- What you should be spending on software and how useful automation is during fundraising.
- Some personal apps that Dylan uses on a day-to-day basis, like habit tracker, Way of Life.
- Dylan has improved his business by taking more responsibility for lead generation and building and updating his database.
- The biggest way that Dylan finds investors is through different engagements like podcasts.
- The number one thing that has contributed to Dylan’s success has been avid learning.
- Dylan likes to give back through mentorship because he’s has a lot of great mentors himself.
[bctt tweet=”You almost want to avoid getting stuck in the trap of trying to find the one thing that does everything, because a lot of these companies specialize in one thing. You have to just accept that you’re going to have five different passwords and logins for five different sites within your tech stack. — Dylan Marma” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Dylan Marma
Beginning his real estate investing career in 2015, Dylan Marma climbed the ranks to become the youngest Director of Sales in one of the nation’s premier real estate investing education companies. Experienced in leadership and public speaking, Dylan founded the corporate Toastmasters group for said education company in San Diego. He also manages a large real estate networking community to teach others how to invest in multifamily real estate. In 2018, Dylan relocated to the South-East to pursue the potential he recognized in the market, and shortly after took on the lead role of Acquisitions & Investor Relations with Rand Partners LLC.
Full Transcript
[INTRODUCTION]
[00:00:00] ANNOUNCER: Welcome to The Real Estate Syndication Show. Whether you are a seasoned investor or building a new real estate business, this is the show for you. Whitney Sewell talks to top experts in the business. Our goal is to help you master real estate syndication.
And now your host, Whitney Sewell.
[INTERVIEW]
[00:00:23] WS: This is your daily Real Estate Syndication Show. I’m your host, Whitney Sewell. Today, our guest is Dylan Marma. Thanks for being on the show again, Dylan.
[00:00:31] DM: Thanks for having me back, Whitney.
[00:00:32] WS: Yeah, Dylan is a Principal of The Requity Group, the real estate investment company focused around the acquisition and operation of mobile home parks and multifamily real estate. He has been a principal on over 50 million dollars in real estate transactions over the last four years. Dylan is Co-Founder of a software platform called Equity Tree, focused around helping real estate investors raise capital and improve investor reporting. That can be so complicated sometimes, Dylan. No doubt about it. No doubt about it, just organizing all that. Why don’t you give us a little update, Dylan, or – and let’s dive in?
I know we’re going to focus on some tech things that are going to help us to stay more organized and manage all these things in this business. I mean, it’s difficult sometimes, but there are tech that help us in a big way. I’m looking forward to jumping into that and seeing what you’re focusing on, what your team is using to help you all stay better organized.
It’s always a goal of mine to always improve that side of it. I mean, how can we do this better next time? How can we be better organized and just tracking really the issues that we’re having, so next time we can do them better. Give us an update on you, Dylan, and let’s jump in.
[00:01:38] DM: I’d love to. Yeah, if there’s anything that you learn in this business, it’s how to stay organized. Over time, you’re really forced to be managing so many different moving parts, and it’s super important to have the right systems in place to keep yourself organized, and to keep on top of the ball, in all the different areas of the business, be it your asset management, your acquisitions, your investor relations, and so on.
One thing I put a lot of emphasis on over the last few years is creating what we call a tech stack, or a technology stack. When you think about a real estate investment deal, you oftentimes have what we call the capital stack and that’s the different sources of capital, your debt, your equity, your Capex money, your down payment. That breaks up the capital stack.
It’s the same thing. It’s similar in a sense where you have a technology stack and this is basically, all of the different platforms that you’re using to manage your business day-to-day. There’s a number of those that I figure we can dive in to, as far as what the essential technology platforms you’ll want to have as someone that is actively syndicating deals, or running a multi-family business.
[00:02:48] WS: For sure. I thought this was a great topic, because I’m always looking for that thing, that as we all are, but especially in software, because they’re not always easy to learn, but they can be a game changer. It’s like, which one is going to be best for my – just use of time, after we learn this, my assistant learns it, our team learns it. That’s a lot of time and money spent. Trying to do the due diligence on, okay, which one is the best one for us to just jump in and move forward with. Looking forward to this. Get us started with some tech that you’ve used, or you’ve seen. Now, you know lots of operators in the business as well, and what you’ve seen to be most productive in what you all use?
[00:03:25] DM: The first thing I’m going to mention, before I go into it, is the biggest piece of advice that I can offer when you’re adopting to a technology stack is don’t get married to one platform. I remember having this idealistic view at first, of “I’m going to find the best platform ever and sift through a million of them and find one thing that sticks and it’s going to be with me for the next 10 years.”
The reality is that technology is always changing, programs are becoming obsolete, new things are coming out and you really just have to get started and having some a platform in place for all of the different moving pieces within your business. Over time, you may find that certain programs become obsolete, you may find that certain things are just not working out for you, or the cost structure keeps going up, so it doesn’t make sense for you on a financial level anymore.
You really just have to be fluid and accepting that there is going to be some burnt time in learning the softwares, and you’re going to have to make transitions occasionally. That’s just going to be a part of the day-to-day in the business, I believe, if you want to continue to embrace technology and stay at the highest level of efficiency in your own business.
[00:04:31] WS: You don’t know what you don’t know, right? There’s so much of it, about a platform, or software, or technology, you’re not going to know that it does or doesn’t do until you get in and start using it.
[00:04:40] DM: Exactly. Relearning the next one is always much easier. If you’re using an email management software, it’s super easy to get plugged in with the new one once you’re already familiar with the first one. That’s what I find. It’s usually just getting started with each of these platforms and then adapting to the new one is usually not all that different. A lot of these have the same core functionalities in place.
[00:05:01] WS: Cool. Yeah, let’s just jump into some different parts of the business. I know we’ve briefly mentioned, like emails and just managing deals, managing investors, different things, so let’s just jump into some specific software.
[00:05:13] DM: A few of the key ones that you’ll want to think about having in place for yourself, number one is a project management software. Project management softwares are becoming increasingly popular right now, and you’re seeing Asana being a lead one. That’s definitely my favorite one, because it’s great for being able to track reoccurring rhythms that take place in your business; things that occur every week, things that occur every month, right, and being able to manage workflows within Asana.
Project management software is great for keeping vendors accountable. If you’re doing a major rehab project, it’s great to have timelines and deadlines in there, and have them in sync with that. I use it avidly on the development side for our own software company, Equity Tree, which I’ll discuss in a minute.
Then project management is also super important for your rhythm. If you send out a monthly investor newsletter, having that maintained in your software and having even pre-deadlines in place, sub-tasks in place, to be able to manage when do you want to have the content uploaded, when do you want to have the editor review the newsletter before it goes out? Things along those lines.
Project management is basically in place to be able to capture all the day-to-day tasks and responsibilities. You really want to think about every single thing that takes place each month and try to upload that into your project management software. The big ones for that are Asana and monday.com.
Then there’s your email management software. Your email management software, the big ones that come to mind for this are, oftentimes, there’s ActiveCampaign, there’s Constant Contact, there’s Mailchimp. I think Mailchimp, there’s – HubSpot does some email management. It’s also does some CRM stuff. I think Mailchimp’s the free one and that’s where a lot of people start off and it really does a lot of the essentials there.
Over time, I’ve adopted into using ActiveCampaign; again, very affordable and it does a lot of automation functions very well. If you want to think about when someone opts into your newsletter or something along those lines and you want to send them an automated email as soon as they opt in, or every so often you want to have some drip campaign, where they get a series of emails from you educating them, or something to that effect, ActiveCampaign is a great one.
With email management software, you want to pay attention to and do your homework on what’s going to give you the highest deliverability rates, because email service providers are cracking down on deliverability. That’s why it’s very important that you have a warm list in place that you upload to these and you’re paying attention to how are you going to get the highest level of deliverability, because there’s nothing worse than having a big email list and half your emails don’t go through.
Having a good email management software with good practices in place is helpful.
[00:07:50] WS: I mean, like your CRM, your customer relationship management tool. Do you use ActiveCampaign for that, or do you have a separate system for actually managing your calls and just information and things like that, notes maybe you’re taking from investor calls or something?
[00:08:07] DM: That’s actually where I was going to go next with the CRM. It’s funny, because I’m glad you brought that up, because a lot of people in this industry are not really familiar with the difference between an email management software and a CRM. A CRM is more of the actual workflow that takes place when someone opts in and the status as to where they are. If they’re a potential investor, it’s seeing how they’re converting in terms of being a non-preexisting relationship to being pre-existing, or to being an actual investor, or something to that effect.
With the CRM, what I’ve actually started using is, I don’t know if it’s newer, but it’s not as widely known. It’s called Airtable. Airtable is similar to monday.com in a sense, but it’s like an Excel sheet on steroids, in the sense of you can upload all of your contacts and you can put in formulas, so that every 45 days, or every 90 days, it’ll ping you if you haven’t stayed up to date with them. I use that as more of just a – not even just for customer relationship, but a general relationship management platform. I have all my broker contacts in place, all of my vendor contacts in place, and I have which locations they live in, in addition to tags for which locations they invest into, or which locations they cover on their own front.
I find it’s a really effective way to be able to keep up to date on those relationships, because this is a relationship-based business. I highly encourage using that for either for investors, for brokers, for vendors, for your CPAs, anyone that you want to be able to keep in contact with and keep rhythms with. I even use it for my friends and my family, just as a place where I can store their contacts, so I know who my close friend group is that I want to be able to touch base with every so often. Having that hosted within there just makes life simpler ,and then taking notes and making comments, so you can reference some things you’ve covered, previous times you’ve spoken, is very useful.
[00:09:56] WS: For sure. I’m glad you mentioned that, because I know forever, I’ve had a CRM that I’ve used and I track phone calls and notes and things like that, but it’s never been that email management software. It was never that at the same time. It wasn’t robust enough. It didn’t have that end of the – what I needed as far as software. I had a separate system that would communicate a little bit together, but not much, early on. Then we moved to something else now.
Yeah, it’s interesting. You start thinking about, okay, it’s really two separate things. Who’s coming in through our website? When they’re signing up, what emails are they getting? That’s really almost a different system. I found – I use ActiveCampaign a little while now. I didn’t like the CRM portion of that. I just didn’t feel like it could track our contacts very well, or our interactions and things like that. It was very sophisticated on email campaigns and things that, but not on the customer relationship side.
[00:10:48] DM: You’re using HubSpot now?
[00:10:49] WS: I am. I am using HubSpot now.
[00:10:52] DM: Very cool.
[00:10:52] WS: Yeah. It can do both. I mean, it’s very robust, as far as CRM side and the email campaign and things like that are connected to the website.
[00:11:02] DM: Yeah, I’ve heard great things. I haven’t dove heavy into HubSpot yet, but definitely something I’ve heard nothing but good things about, for people to look into and check out. That is one thing I’d say, you want to avoid getting stuck in the trap of trying to find the one thing that does everything, because a lot of these companies specialize in one thing. You have to just accept that you’re going to have five different passwords and logins for five different sites within your tech stack. We all want to find the one thing that does everything and you may, if you’re lucky, you find HubSpot, it does two things very well, which is good. Oftentimes, companies are not going to go that wide and that’s why you have to be familiar with everything available and pick and choose.
[00:11:40] WS: Yeah. I wouldn’t say HubSpot is for everybody, because it’s pretty darn expensive, honestly. It wasn’t something we could do right away, by no means, or for a long time, but there’s numerous really good platforms, like you mentioned Airtable. I’ve never used Airtable, but there’s numerous ones like that that – it’s like you mentioned earlier. Something is better than nothing. Get started, get tracking this stuff and you’ll figure out something else to graduate to. Even another software, Zapier, will connect a lot of those. Or Zapier, maybe it’s called. I’ve heard it called both things, but you can connect different platforms.
[00:12:10] DM: Absolutely. You’ll find how you can make them work together. Zapier is a great tool for doing that as well. Beyond that, you’re going to have your property management, your accounting software. Now if you’re using third-party management, most of the management companies are responsible for paying for the property management accounting softwares. These are your Rent Managers. These are your AppFolios. If you have smaller property, you can use something like Cozy, there’s Buildium, there’s a number of different tools to choose from.
Like I mentioned before, a lot of these are very easy to use once you are familiar with one of them. They’re all pretty similar in the sense of inputting your different GL codes and being able to manage properties effectively. That largely depends on the size of your portfolio, because that’s going to dictate how much you can spend comfortably. A lot of them are on a per unit basis. I’ve used AppFolio mostly in the past and I really like it. I like the fact that it has very easy to integrate marketing channels that are already plugged in with it, so when you upload your rent roll, you can also market out your vacants to the different platforms available. I think they do a great job with that.
I also like the Lisa, which is the new service that they have, which is a – it’s almost like an AI chatbot, which gets people to schedule their appointments. I found those to be very effective, and I think that’s going to be something we continue to see more of. That means that I’ve –
[00:13:33] WS: That’s something to interact with tenants?
[00:13:35] DM: Yeah. Well, it actually will be talking to the prospective tenants that opt in from the different marketing platforms. Then it will actually get to the point where it’s going in this back and forth communication with them, up to the point where they’re ready to schedule a tour. Then if you have a property manager on site, it will just sync with their Google calendar and it will see what times they’re available and it will book them for tours all throughout their day.
[00:13:59] WS: Nice.
[00:14:00] DM: It’s worked so effectively, to the point where property managers, community managers, can almost be frustrated with how many tours they have on their schedule. As an owner, that’s a good thing to have.
[00:14:10] WS: That’s through AppFolio?
[00:14:11] DM: Yes. Yup.
[00:14:12] WS: Awesome.
[00:14:13] DM: I imagine, there’s other things available. I’ve heard great things about Rent Manager as well and a number of other good platforms out there, but it is something cool that I think we’ll see more of as you’re thinking about your technology stack and ways to be more effective with this.
Beyond that, you have your deal management. Deal management is something that I find, if you look at the single-family world, because of the frequency of transactions, a lot of them use a really solid deal management software and they’re really in sync with custom-built Podio technologies. Podio is a really cool tool. It takes a little bit to get used to, but you can really track the workflows and you can automate things, to the point where you can have a button that you click, and it will automatically populate an LOI with all their information in place. Or you can have all of your different marketing channels, if you do direct mailers, or texting campaigns, or anything like that using these other softwares. I’ll pour back in there and you can track the status really well.
I’d say that’s one of the better ones. I know there’s a lot of these softwares coming out right now that are the built for you, what is it? You open the box and it’s already built for you, versions of Podio, which take a little bit less upfront work. I’ve heard Real Estate BlackBook, I believe is one, which is pretty good. You want to have some a place where you can track your deal management.
I do a lot of that still on – I’ve done a lot of Monday and Asana as well for deal management, just because there’s usually only so many deals at one time. I found this to be still very effective with being able to track things and measure – see how far along they go. Trello is another one that I know some people will use, but Asana is replacing Trello, because it also has that board view where you can sync things as you go, and track which status, and just move the card under the different statuses in place.
[00:15:58] WS: On that note, could you just highlight things? Maybe is there one or two key things or why you would switch from monday.com to Asana, or one of the other? I’ve never used monday.com, but I have Asana.
[00:16:09] DM: Yeah, so monday.com – in my view, Monday is actually a better tool for building a database. That’s what I believe, because what I’m doing on the mobile home park side, it’s a lot less broker-driven. What I’ve been doing with my partner is actually building a database of all the different deals that we have and we have a VA that will help populate and scrub the information and keep it fresh.
Monday can be really good, because you can create almost unlimited columns and then you can have columns for number of units, who’s paying utilities, owner contact information. It’s almost more similar to the stuff that you would use for an Excel sheet for, in the sense. It’s more similar to a really nice dynamic Excel sheet, that you can have comments and all different sorts of filters on. That’s actually, in my view what Monday’s better for, whereas Asana, I think is more effective for task management.
[00:17:05] WS: Okay. Awesome. What other tech should we be thinking about, or maybe something else you use, Dylan?
[00:17:10] DM: Yup. There’s two other areas I want to hit on here. You have your document storage. This hasn’t changed that much over the years, but Dropbox or box.com, something like that is always important to have. A lot of these now, you can – like I say, with Zapier, or some of them just directly will integrate with these other softwares now. That’s always cool. I know Asana, you can just sync the two of those together. That’s where you can store your ongoing docs. I highly recommend getting organized with that.
I bought a computer with a ton of data, just so I can keep my Dropbox, instead of being in the cloud. I just like it instant access on my computer all the time, and I have everything very organized with different folders for every different deal. I think it saves you a lot of time and headaches just having that, so you can go back and reference it.
[00:17:52] WS: You said you bought a computer with extra storage?
[00:17:55] DM: Yeah. I know everyone’s moving to the cloud, so I’m sure it’s going to be an obsolete advice at a certain point, but I just didn’t like having to pull them in from the cloud each time, so I bought a computer with a lot of storage just to keep my Dropbox on the local drive all the time. I just have access to everything quickly. I had a computer that would get full all the time on me at one point. It was it was a big headache.
[00:18:18] WS: Dropbox versus Google Drive, or any preferences there?
[00:18:22] DM: Well, I like Dropbox personally, just because of the way that it syncs. I mostly am using a Mac, so throughout the day-to-day, I like the way that Dropbox pulls up on the Mac and the PC is pretty much the same thing.
Google Drive, I think has been a bit of a challenge with a lot of real estate investors, because of the way that it syncs with Excel sheets. We use a lot of Excel and that’s a bulk of a lot of our documents. I know for a while they weren’t really compatible. Your Excel would have to convert to Google Sheets. I think they may have now released to where there’s a workaround and you can upload directly with Excel, but I think ever since that I ran into that challenge, that’s why I’ve stuck with more Dropbox.
Then lastly, to discuss on the investor management software. Equity Tree is the company that Eketerina and I founded about a year ago. We’ve released and launched Live about four months ago. It’s basically an investor management software, which is playing the role of being able to manage your day-to-day interactions with investors, when it pertains to your actual deals, when it pertains to uploading a deal, and being able to present that deal to them, and tracking the status on the deal, tracking your soft commitments, tracking your investments, and tracking the status on those investments, who signed the documents, who hasn’t? Who’s wired money, who hasn’t? And so on during that capital raise.
I think that’s one of the most hectic time periods. For anyone that’s been through that, you know that. It’s important to have something in place to be able to track how the fundraising is going. Then the one thing that we’ve done that I would say is unique, versus what a lot of other softwares are offering is we’re really putting an emphasis on what takes place after the money is raised and after the deal is invested on. We’re really doubling down on what we call a deal performance dashboard, which actually will show the ongoing performance of the deal month-to-month, and quarter-to-quarter, on actual versus projected. You can set up your budgets in there and then track how you’re doing pertaining to those budgets. Then you can also store the variances that you have, as far as why are you missing the mark on your utilities?
Maybe you got double-billed, or why is payroll going up, and being able to explain that. Giving them a dynamic P&L that replaces a lot of PDFs with asterisks. That’s been a big mission of ours with Equity Tree. Then beyond that, the other thing that we are doing is we’re really building a bit of a community around it in a sense of being able to help operators get better with all different aspects of building their technology stack, or doing their marketing and getting inbound investors in place, managing or handling their investor relations, and things like that. That’s that.
There are a number of other software’s out there for – industrial management softwares. It’s something that really sprung out a few years ago, but I feel it’s happened so quickly that it’s becoming almost an industry standard now that you have some a place that your investors can log into. For those that aren’t familiar with it, it’s almost like your investors all get their own login that’s almost acts like an online bank account. Like if you’re logging into Vanguard and you can track your investment performance on previous investments, or you can see prospective investments and make your commitments on there. Yeah, it’s quickly rose and became a standard to have something in place like that.
[00:21:43] WS: Just the document process alone, funding a deal, it just automates all that so much. That’s so handy. As far as Equity Tree and some of these other platforms, is there a way that something like that has helped your all’s funding process, or anything that stands out to you from I don’t know, what about other platforms and Equity Tree?
Just going through that process. If somebody who’s listening hasn’t done that yet, maybe you’re pursuing that first deal. It’s a lot to get a 100, a 150 investors through a raise. There’s always numerous that have trouble with documents, or whatever. What about you, Dylan? Anything that’s specific to you that said, “You know what? This just really saves so much time for us”?
[00:22:20] DM: Well, I can speak from my own experience. At one point, we were spending over $15,000 a year on software to just handle the same functions that this does. I think that the pain of writing that site this check was part of what inspired us in the first place, because I saw the value of having that software, and I’ll get into that, but I also saw that spending over a $1,000 a month for just one of the tools in your capital stack, it seemed like a disproportionate amount of money going towards that one tool, versus everything else that you’re using is maybe a 100 bucks a month or so on.
We wanted to make something that’s more in alignment on a price point with the other tools that we covered, as part of your technology stack, because you really shouldn’t be spending more than several hundred dollars a month on software to be able to manage all the day-to-days in this business, because none of it is all that complex.
Now, where I personally found the biggest benefit is during the capital raise, because if you don’t have something like this in place, it’s probably going to be all stored on either Dropbox, and maybe some of it you can track on the project management softwares that we discussed. You can track their status and track their documents. When you think about the fundraising process, oftentimes, if you have a webinar, there’s going to be a gigantic amount of email chains going back and forth. If you say, “Hey, if you’re interested in investing, just send me an email and let me know how much you want to invest,” or something like that.
Then you’re going to have a lot of these different email chains you’re going to be managing. Then, back and forth is going to say, “Okay, after you get that email, okay, here’s a subscription agreement. Okay, let me know when you sign that.” Then I have to go and get that back. Then, “Hey, here’s the wire information,” which you might not want to be sending over email anyway. You probably want to find an alternative way to send that information, just for security purposes.
Then from there, once you find a way to send them that information, then you have to confirm who’s gotten that in. Then if you have a deal where you have 25 investors, you have 25 different email chains going on. Then beyond that, you have to also be tracking the status on something else and where are they in the process? And then you have to be saving all of their signed documents in a Dropbox folder, and keeping that folder in place, and maybe sharing it with them, so they can go back and reference it when they need to.
Then they have to have this Dropbox link that they hold on to and save, versus it all being done in one central location. It’ll also avoid a lot of the stuff, where at the end of the year they reach out to you with, “Hey, can you send me that email again with the last four months of statements? And can you send me my subscription agreement again? I lost it.” You have it all in one place, one hub, so there’s a lot less of that back and forth
I think it just creates a better experience for everybody.
[00:24:57] WS: Is that separate from your CRM, or is this all in one?
[00:25:01] DM: The investor management is separate from – we’ll say the CRM, but as far as the deal performance, the deal performance stuff in addition to the capital raising side of it is all combined into one thing. The stuff that takes place before they invest and the stuff that goes on after they invest is all one. Right now, we just have one offering too. We don’t have any upsells or anything like that.
[00:25:23] WS: Okay. All right. What about any specific apps that you use to help you just on a day-to-day basis, or anything like that?
[00:25:31] DM: For me, as far as apps go, I use an app called Way of Life, which is a habit tracker. I think that one’s pretty neat. That’s more of on a personal level, like tracking fitness and tracking things like that. It became a principle of mine to value consistency over just short bursts. I think Way of Life is a super simple and easy to use app. For me, I like to use that as just keeping it simple. Honestly, I try to keep a lot of the apps off my phone, because I have enough technology to manage on my computer. Other than that, I’m like a digital minimalist where I can be.
[00:26:05] WS: Nice. All right, Dylan. Anything else as far as technology you want to share, or anything at all before we move on to just a few final questions?
[00:26:13] DM: No. I think that’s about it.
[00:26:15] WS: I mean, it’s just some great information. I know, especially starting in this business, I mean, it can be pretty overwhelming just trying to think about how to stay organized and just knowing a couple of these things would have helped so much early on. What’s a way, Dylan, that you’ve recently improved your business that we could apply to ours, maybe that we haven’t talked about?
[00:26:32] DM: Taking more responsibility for lead generation, and beginning to build a database, ongoing, and build systems to keep that database updated. The way you can go about doing that is ideally, you want to find a source where you can pull all of the property information. Maybe it’s Reonomy, or CoStar, or you could just go into the county records, depending on the county you’re in, and start to pull all the information for the deals that meet the market for you.
Then storing those somewhere. Then beyond that, starting to go into finding out the owner information. Again, that could be county records, but a lot of times you’re going to go into skip tracing the LLCs, or the ownership information and starting to get their contact info. That I’ve been doing and managing on some of the project management softwares, on monday.com. I think that’s been a huge improvement, because you feel less dependent on brokers.
[00:27:26] WS: Nice. What about the way that you are finding investors right now?
[00:27:31] DM: The biggest way I’ve been finding investors lately has just been doing a lot of different engagements similar to this, actually, with just a lot of podcasts, a lot of getting out there on different people’s shows, during COVID. I mean, we’re all bound up, so we’re not going out there and doing much physical marketing, so I just been doing a lot of reaching out and connecting with people. Most importantly, for me just pouring into existing investors that I’ve worked with too and keeping them up to date and letting them know of any changes or future plans.
[00:28:00] WS: I’m glad you mentioned that. it’s something I’ve tried to do better at, but it’s like, everybody wants to grow their list, but it’s like, wait a minute. What about the list you already have?
[00:28:08] DM: Yeah. Right, right. Definitely agree.
[00:28:10] WS: What about the one thing that’s contributed to your success, Dylan?
[00:28:14] DM: I believe that learning avidly has been one of the biggest contributors and accelerators from my own success. I like the quote that I think says that if Abe Lincoln said, if he had six hours to cut down a tree, he’d spend the first five sharpening his axe. I really believe that. I think, I’ve been a big reader for many, many years now and I think that if you study enough, if you’re listening to enough of these podcasts, and reading enough, and just bringing in enough content, the clarity it’s going to bring to your decision-making is going to help expedite everything else and avoid a lot of mistakes.
[00:28:47] WS: How do you like to give back?
[00:28:48] DM: I like giving back to mentorship. I think I’ve had a lot of great mentors myself over the years. As I continue to break through and have more success in the real estate business, I know how meaningful it can be to be able to spend time with other people and mentor them through the processes and the struggles.
Mentorship for me is the biggest way to give back, because it’s one of the biggest things I’ve been able to get value with.
[00:29:12] WS: Well, Dylan. Thank you very much. Just always grateful to catch up with you personally and then just to have you on the show. You’re a wealth of knowledge and you’ve just done some big stuff in this business and making amazing strides. Grateful again for your time. Tell the listeners how they can get in touch with you and learn more about you.
[00:29:28] DM: Thanks so much, Whitney. Always a pleasure. If anyone wants to schedule a demo with Equity Tree, you can visit equitytree.io. On there, you can book a demo and we’ll jump on a call, even if you want to just get a sense of what it’s like. If you’re using something else, always happy to chat and get to share with you a little bit on what we’re working on. I’d love to jump on a call with anyone that would like to.
In addition to that, you can reach me. I’m on most social media platforms and you can also email me directly at [email protected]. I have a bunch of emails, but we’ll stick with that one.
[END OF INTERVIEW]
[00:30:00] WS: Don’t go yet. Thank you for listening to today’s episode. I would love it if you would go to iTunes right now and leave a rating and written review. I want to hear your feedback. It makes a big difference in getting the podcast out there. You can also go to the Real Estate Syndication Show on Facebook, so you can connect with me and we can also receive feedback and your questions there that you want me to answer on the show. Subscribe too, so you can get the latest episodes.
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[OUTRO]
[00:30:41] ANNOUNCER: Thank you for listening to The Real Estate Syndication Show, brought to you by LifeBridge Capital. LifeBridge Capital works with investors nationwide to invest in real estate while also donating 50% of its profits to assist parents who are committing to adoption. LifeBridge Capital, making a difference one investor and one child at a time. Connect online at www.LifeBridgeCapital.com for free material and videos to further your success.
[END]
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