WS1221: Multifamily Development Strategies with Chad King

EPISODE 1221

[INTRODUCTION]

0:00:00.0 

Chad King (CK): It’s a lot about planting a lot of seeds. I always position to this like you kind of toss some lines out in the ocean if you’re on a boat. And you just have to keep tossing a ton of lines and eventually fish start baiting. Too many people get discouraged on the direct-to-seller base because they get all hyped up to do a mail campaign and they’re like, I’m gonna call these owners, all right, I’m gonna do this mail campaign and they send out 700 mailers and they get one phone call and they tell them to f* off right and that’s the only phone call they get and they just get discouraged and they say direct-to-seller doesn’t work. Well, it’s like seven to twelve touches before they’re even gonna reach out to you so you gotta have some consistency in this direct-to-seller game.

0:00:33.3 

Sam Rust (SR): This is your daily Real Estate Syndication Show. I’m your host, Sam Rust. With me today is Chad King. Chad is the owner of several companies in different verticals, an accomplished investor and a business coach, loves talking sales, investing, asset acquisitions, income stream building, and apartment buying, but his passion is buying and repositioning for purpose apartment complexes, could be a facilitator force for good initiative helping the communities and investors get back to great causes. Chad, welcome to the show. It’s a pleasure to have you today.

0:01:02.8 

CK: Awesome to be here. Sam, can’t wait to dive into the conversation. Thanks for having me.

0:01:06.0 

SR: So, you graduated from Florida State middle of the last decade, and then you went straight to Xerox, and I know we’re chatting is We’re gonna know each other a little bit in advance of the pod, but I love your perspective, could you share with folks why you went to zero selling copiers right out of college, that’s not most people’s dream job.

0:01:23.3 

CK: Understandably so, but out of college, I had this hunger to be rich, I hadn’t caught the real estate bug quite yet, but I definitely had that desire to make money, I knew that sales people could control their own destiny by controlling their own paychecks and working for a commission only didn’t really scare me getting into a job like that where you basically eat what you kill really was appealing to me ’cause I wanted to make a lot of money and I didn’t wanna have any sort of ceiling or cap over my head going into selling copiers was kind of a path that I just jumped into.

0:01:51.7 

SR: One of the interesting things I’ve worked with several people over my career who have kind of taken that full commission job right out of college, they’re hungry, they’re driven, and you learn a lot of skills from cold calling, selling those types of products. It’s not necessarily as much of a relational sale, once somebody buys a copier or they don’t tend to need another copier, or at least not for a little while, how do those skills transition to real estate. What did you learn in those couple of years that pushed you along the way?

0:02:15.4 

CK: Definitely how to handle rejection, how to handle no, how to push past adversity because in that specific racket, you’re calling on people in the middle of the day when they’re busy at their office, and you have to be able to approach them and still be likeable, and it’s pretty difficult to do. So being able to have emotional intelligence and understand how other people perceive your situation, like I understood that I was interrupting someone in the middle of their day, so I would come right out and say, hey, I know I’m interrupting you in the middle of your day I apologize. Like, going ahead and acknowledging that; so developing emotional intelligence, being able to move from no to no without losing momentum or motivation, I think is a tough, people get to hear no, or they get a hit by rejection and it just knocks them off their butt. But you know, you gotta pick yourself up, put a smile back on your face and just go to the next door, so those are a couple of the things that I think translate over to real estate, ’cause you’re gonna hit a lot of adversity, it’s a saturated space, there’s a lot of rejection here, there’s a lot of no’s that you gotta push past.

0:03:13.7 

SR: Yeah, I love that. How do you move from no to no. I have a background in sales as well, and it was a little bit of a longer sales cycle and industrial equipment, but that same philosophy, so many times you’d be interrupting people in their day, you know you’re bringing something of value, but can you hit them at that right point in time, there’s a lot of rejection, and so being able to shrug that off is really important, and it also is important in real estate, so I’m curious how you made the jump from straight sales to moving into more of the wholesaling fix and flip game, which seems like that was kind of the next step in your career path? 

0:04:43.0 

CK: I was the top salesman of the company my second year, so I was doing well, and I was in line for a promotion, and it was sort of, I got into the space where I was like… The corporate ladder was sort of being laid out for me, and it was like, hey, you’re gonna be sales manager and then you’re a VP and then, and it was just like, it irked me really bad, I did not wanna climb the corporate ladder, and it was that whole contribute to a 401k. This is the path. Retired at 65, and it just, I’ve been studying successful people while I was selling copiers, and I kept seeing this common theme, which was real estate, I kept seeing it all these wealthy, really, really wealthy people seemed to have a lot of real estate in their portfolio, and I couldn’t shake that book and maybe people read Rich Dad, Poor Dad, I started diving in, caught that bug and then once you catch it and you start to understand how it works, you can’t really go back, and I think most real estate entrepreneurs will agree, once you get that book. So, I just jumped in full-time, I left Xerox cold turkey without any sort of plan, I don’t recommend necessarily doing that, but I was in my mid-20s, so it was like, it was the time to do it. If you’re young, take risks now, so I quit, I got into real estate full-time and stumbled my way, really, in the beginning, was rough, I got my license, didn’t know what I wanted to do, and then found that niche and wholesaling and fixing and flipping, scale that business up, which I’m sure we’ll get to the part of where I get into apartments, but scale that business up, ultimately making a lot of active income and then transition over into buying commercial real estate and holding.

0:05:11.3 

SR: So, you’re doing both wholesaling and fix and flipping, or were you focused mainly on the wholesaling end? 

0:05:17.8 

CK: Mainly on the wholesaling side of things, ’cause I didn’t have any money. I didn’t have any money to do the deal, so it was, the wholesaling was kind of the niche that I found myself in. And then ultimately being able to take some deals down with hard money and do hotels later on as the credibility group. Yeah, that first two years were all wholesaling.

0:05:31.1 

SR: How did you end up in Nashville? So, you go to college at Florida State. You’re working for Xerox in the Miami area. What made you pick moving up North Tennessee? 

0:05:39.0 

CK: So, my wife and I got married and we wanted to move somewhere where we didn’t know anybody, we’re big believers in you have to get out of your comfort zone, ’cause comfort is a place where you would die, so we had our family close, we had friends close, everything was really close and we were super comfortable in South Florida, so we wanted to get really uncomfortable and also geographically, the other reason is, geographically, I studied the fact that it takes eight hours to get out of Florida from being in Miami was a little ridiculous. From a real estate perspective, wanting to own apartments, I wanted to be in a market that was conducive to investing in other markets, ’cause if you’re in Miami, the only place you can invest is Miami, there’s nowhere around it. You have to go a little north, but Nashville, the markets that we own assets and now are all within like a three-hour drive, the Louisville, Chattanooga, Huntsville, Bowling Green, they’re all around us to get to in a car. And I noticed that I wanted to be in a place where I could get to other markets quickly to be able to own apartments. So those were the two reasons for getting uncomfortable, and then being in a better real estate market.

0:06:34.6 

SR: What do you think drove you to be uncomfortable, I completely agree with that. And that’s something that my wife and I talk about quite a bit, is how do we look for that next horizon that’s gonna get us out of our comfort zone, because growth usually happens when you’re under some sort of broad stress and not very many people actively choose that path. The comfortable life in Miami, that sounds pretty good to a lot of folks, what was it about you and your wife that had you looking to the horizon? 

0:07:02.8 

CK: I mean that’s how we were taught, we’re pop through our upbringing is to avoid risk, like fly under the radar, don’t do anything super risky, that’s just how our parents have told us to live because they wanna protect us, they wanna protect us from danger, people take that and they carry that with them through life, avoiding risk and avoiding discomfort. I’m always doing a lot of reading books and kept seeing this theme though, the discomfort is the place to grow like you said, so I just bought into that mentality and I removed a lot of limiting beliefs that I had in my mind, maybe things that were told you, when you’re growing up and I adopted a new set of beliefs, and that new set of beliefs was, part of it was just, hey, you need to get uncomfortable because that’s where the growth is.

0:07:41.8 

SR: It is interesting how much of our childhood is centered around failure avoidance, and the real failure is not attempting, right? So, many people just miss that element of life, they don’t live to the fullest because they’re not experiencing that rejection, that failure and taking that, internalizing that and growing through it. Just read The Obstacle is the Way and love a lot of the concepts, and it’s a short little book, I would recommend it, but this idea that, hey, don’t see obstacles as problems to hinder their opportunities to test your metal, to grow, to gain skill sets that are needed to overcome those problems.

0:08:17.9 

CK: Yeah, and look at the school system. The school system teaches from the ages of five to however long you’re in school that failure is a bad thing, it teaches you to failure is the worst thing in the world, and that cooperation is cheating. You can’t cooperate. Well, when you’re an entrepreneur, failure is literally your path forward, you have to continuously fail, and cooperation is the only way you’re gonna get to your goals like partnerships, cooperating with others, doing deals with other people, that’s the only way you’re gonna scale and grow so I think there’s a lot of things in the education system that also ingrained those beliefs, and the people that don’t spit out entrepreneurs, they spit out employees because they teach those kinds of things too. So, you’ve gotta really look and figure out what kind of beliefs are maybe ingrained in the back of your mind, you need to unbelief. And that’s the hardest part.

0:09:01.6 

SR: Is there anyone thing that you found particularly hard to unbelief, is there one that’s stuck with you longer than most.

0:09:08.6 

CK: We always heard this, “Money doesn’t grow on trees.” Everybody used to say that, and I feel like it’s the most BS expression because it absolutely grows on trees, it’s like the fakest thing in the world, and when you start to wrap your head around that concept that this paper that we all carry around and these digits in our bank account are not real, they’re not backed by anything. When you start to conceptualize that and then live your life with that belief, things start to change for you, you start to utilize that fake money to buy your time back and do other things with it, invest it, you don’t hoard it or save it. And think like you’re saving anything ’cause you’re not. So that was the toughest one, I think, but once that one clicks, it’s like rocket fuel, once you realize that money is fake. 

0:09:57.0 

SR: That’s really interesting. A concept that really hit me is just stewardship, how can we be a good steward and to view money in its proper place. It is a resource, but it’s not the goal.

It’s not the goal of life, and you wanna use money to accomplish your life’s goals. Just like you wanna use your time, your relationships, all those things are pointed at the goal that you have in life. You just view money as the end, then you end up in bad situations and make that decision as a result.

0:10:13.0 

CK: But it is, you know, the other expression, money won’t make you happy, I completely agree. Money, the actual tangible money won’t make you happy, but money is important. We live on an economic planet; it is super important. Money can in fact allow you to do things that make you happy. So, it is important, and I just wanted to say that, ’cause I think that expression also your money won’t make you happy, I agree, but I’m sure it can buy you your time back and you can do things that make you happy with that money.

0:10:34.2 

SR: There’s a lot of those axioms that I think we’re coined to kinda help cope with difficult circumstances, and if you can flip those and look at them from the backside, you start to realize the inherent bias in some of those statements.

0:10:48.3 

CK: 100%. If you stand on the edge of the coin and you start looking at both sides, there’s three sides to every coin, and most people never stand on the edge, we talked about sales for a little bit, but asking the question, why am I being told this? Why is this narrative being spun this way and looking at both sides and seeing what the drivers are for why you’re being told certain things and why those axioms are the way that they are? When you start asking those questions, you get a lot of answers that can really open up some doors for you in your life.

0:11:11.8 

SR: And it’s amazing how many people will not like the why question, they get defensive, push back. A lot of people don’t want to see people get to the edge as it were. (Sure, because the answer scares them sometimes.) Maybe not a foundational truth, I love the quote from Mark Twain, “It’s not what I don’t know that gets me in trouble, it’s what I know for sure that just ain’t sell.” So, your wholesaling, you’ve got a lot of active income, I’m sure taxes are nipping at you, April 15th is not the funnest time of year, what was the impetus to get into multifamily to scale bigger? And change the business model.

0:11:45.7 

CK: Yeah, and I always had that in mind. Even when I got into wholesaling, I always knew that the end game was gonna be apartments, just ’cause that was part of the studies, so getting in and making a lot of money is great, but when you’re in a transactional business like that where you’re wholesaling or you’re flipping, there has to be a means to an end, because you wake up, you do 200 deals one year, and then the next year you gotta go out and do another 200 deals, and it’s like, when does that ever end? So taking that money, ultimately rolling it into multifamily apartments is absolutely the path, I kind of already knew that, but I needed to make that money first before you can start to buy those things. But then there was another limiting belief there that I’m sure will debunk which is, I could have got straight into apartments and done the syndications that I’m doing now and bought these complexes with other people’s money, I just didn’t know that I could do that in the beginning, this is somewhat ignorance getting into the space, like thinking that you needed money to buy these things and having money definitely helps, it’s certainly a lot tougher without it, but ultimately, you can orchestrate an apartment complex deal with zero of your own capital, if you are trustworthy, you have integrity, you know what you’re doing, and you have great partners around you.

0:12:51.2 

SR: So, if you were to go back, would you go straight to apartments.

0:12:54.8 

CK: Man, I’ve got some great experience. I’m the type of guy that answers that question with, I wouldn’t change anything because everything led me to where I am, and that’s kind of how I would answer that question. But ultimately, if I could go back, I wouldn’t have gone to college. So, I just wasted four years in my life, so if I could go back, I would have gone right into it for sure, especially ’cause I would have bought a lot more properties at a lower price per door then you can buy them now, so yeah, I definitely would have gotten into it.

0:13:19.5 

SR: You’re thankful you got in when you did. For people who are in the syndication game, and have been buying apartments for a couple of years, but you look at some of those values, whether it’s CoStar, Yardi or any of these other databases, it’s like that was treating it, that cap rate at that price per door, it’s unbelievable. 

0:13:37.0 

CK: You know, the best time to buy real estate though, is now. Always now. 

0:13:397.0 

SR: Oh, that’s fantastic. So, you’re also, I imagine, pulling a lot from your sales background into negotiating with owners, are you doing direct outreach to current owners of properties trying to facilitate the unicorn off-market deal, how does that play out of your business?

0:13:55.0 

CK: In the last two years, we picked up nine properties, six of them have been formal syndications, and of those nine, seven of them have been direct to seller, so we like going direct to seller, and it’s just I like to be able to talk to an owner and figure out why he wants to sell this building and figure out using that tactical empathy and that emotional intelligence to put myself in his perspective and see why he wants to sell, we’ve gotten some great owner financing terms on some of these deals. The direct-to-seller game is tough. It’s very difficult. It’s a gritty, gritty game. You have to have a lot of consistency. You have to have a lot of persistence and you have to be able to talk to people and have the gift of the gab. Because, unlike single-family real estate, there’s not much distress. So, there’s not like if anybody fire sailing these properties, they know the market’s hot and they know they can list it for the broker, they know, so there’s gotta be a reason why they would let it go off market, they also gotta feel like they’re getting a fair deal and they also gotta feel like the person sitting across from them is gonna perform, they know like, I trust that person that comes in and play a lot in the multifamily space, having that sales background and being able to ask great questions, figure out why that person sitting across from you even wants to sell, or is it an entertaining selling, and then positioning my offer to accommodate what they’re trying to accomplish, if it’s avoiding taxes and they still like the passive income, they just don’t wanna deal with the property, well, then I’m gonna offer I’m gonna owner-finance it. Those kinds of things have translated really well into buying these apartments.

0:15:14.0 

SR: What size of complexes are we talking here? Are we talking 400 units? Are we talking 20 units? What’s the range of size that you guys are chasing?

0:15:22.6 

CK: Right now, my smallest apartment complex is 14 units and my largest one is 93 on the GP side. I’m invested in a lot of LPs, on a lot of bigger deals, 200 units plus, but on the GP side, under 100 units is typically where we find a lot of success in our direct-to-seller marketing efforts.

0:15:41.6 

SR: Yeah, we have focused primarily on 100 units and up. But my working through, and I’m curious if you could confirm this, at least in your experience, is that brokers tend to focus on those larger transaction sizes, the owners tend to be a little bit more professional, it’s a little bit larger, they’re making a little bit more. And as a result, that kinda in-between space, and I might scale down a little bit and say like 10 to 70 units, 75 units or so is not as attractive to brokers, and so there’s maybe more room for direct of owner marketing. Is that something that you would agree with? 

0:16:18.7 

CK: Yeah. I would agree with that statement. I mean that 50 to 100. We have a lot of assets between 50 and 100, and I think that space is out of the institutional levels purview, so I was competing with the deal, it’s like 140 units here in Nashville, and the person I’m bidding against, I’m in around the highest and best and the person I’m bidding against puts a million dollars hard day want, and I’m like, how am I supposed to compete with a million-dollar hard day one so you can have success on 100 units, plus, but you’re ultimately gonna have to go through that process which is that highest and best, it’s gonna be the call for offers, it’s that broker process, and that’s right now because we’re at the peak of a market that turns when the market turns and brokers start to call you back instead of you having to help them, but when the market has turned, like I said, under 100 units, is it typically a space you could play that’s out of that institutional purview and you can have a little bit more, a little bit less competition to say there’s no competition is crazy, there’s just a little bit less of those bigger players.

0:17:14.7 

SR: What does your funnel look like for pulling owners in. What does your outreach look like? 

0:17:19.3 

CK: Yeah. So, we do a combination of things, so we pull a list based on certain criteria and then we’ll do cadence of mail, email and text campaigns on an alternating basis with language that’s really kind of directed at building our relationship with these people, it’s not like, hey, I’ll close quick, it’s more just building a relationship. This is who we are, this is what we do. If you’re ever considering in selling, please reach out, things like that, and then, I’ll be honest man, I’ve sent mail, I’ve gotten a phone call from a piece of mail that I sent two years ago to these apartment hunters, so it’s a lot about planting a lot of seeds. I always position it as like you’re kinda tossing lines out in the ocean if you’re on a boat and you just gotta keep tossing that ton of lines, and then eventually fish start baiting. Too many people get discouraged on the direct-to-seller space ’cause they get all hyped up to do a mail campaign, and they’re like, I’m gonna pull all these owners, alright, I’m gonna do this mail campaign, and they send out 700 mailers and they get one phone call on it and they tell them to F off, and that’s the only phone call they get and they just get to sit and they say direct-to-seller doesn’t work. It’s like 7-12 touches before they’re even gonna reach out to you, so you gotta have some consistency in this direct-to-seller game.

0:18:21.1 

SR: You mentioned owner financing, have you done any partnership type structures where you come in, you’re the operator maybe even fuse some capital and complete a value-add program, but the owner stays on in some capacity to share in some of the upside is kind of an incentive to sell. If you guys have ever done anything like that? 

0:18:39.2 

CK: Yeah. That’s similar to like a master lease option, and I’ve made a couple of ML offers, I’ve never done a deal like that, most of my seller financing has been either they hold the first position, a primary note for a majority of the equity, or they hold a second position note on top of a loan that we get from a bank. Those are the only two structures that I’ve done, I’ve never done one with a partner like that. 

0:18:59.7 

SR: Yeah, we’re just trying to get creative. There’s a lot of these complexes that are owned by people who maybe even built on maybe self-manage them, there’s tons of opportunity, every time you drive by, it’s just little bit painful. It could be a gym. Figuring out a way to unlock that value, and even if it takes sharing some of that upside with some avenues that we’re exploring as we reach out direct to sellers or to owners, I guess, ’cause they’re not sellers yet.

0:19:24.2 

CK: No, I mean anything you can do to get the deal done for sure, and help create a win-win scenario, you know, you gotta do it. Master lease options have, like I said, I’ve never completed one, so I can’t really speak to it, those are cool deals that you can get them done for sure.

0:19:37.5 

SR: And you said your average time for response is 7-12 touches, is that your main metric of success is at least somebody coming back to you, or how do you measure success? And your costing on the outbound marketing side? 

0:19:54.7 

CK: So, we do track our KPIs for sure. I don’t want you to think we don’t. We track them, but my measurement to success is appointments. So, how many of these sellers can I actually meet with and talk to about their building, either have a long phone conversation or meet with coffee, because I know that appointments will generate LOI’s and LOI’s submitted is always and always will be the biggest driver of results in this space, so for anybody listening, if you have a problem with your deal flow and you’re upset that you can’t get contracts, I guarantee you it’s because you’re not submitting enough LOI’s, and I tell all my students in our Mastermind group, LOI’s is the driver, if you are not submitting enough LOI’s, it is a signal that something is wrong up the chain, up the funnel, there’s something wrong, you’re not looking at enough deals, you’re not walking enough properties, you’re not calling enough brokers, you’re not putting out any outbound marketing, because I know that if you’ve only submitted one LOI in the past 60 days, it takes 8 to 10 to get a contract. Like you’re a long ways from doing a deal. That’s my biggest driver and my biggest KPI, and I know I kinda took a tangent, but I don’t worry too much about response rate, I know what it is, I know what our response rate is, but I only care about LOI’s submitted, and I do do broker relationships don’t get me wrong, like 50% of my activity is geared towards brokers, but I’m just finding that I’m like 15% below what the guidance of price guidance is on a lot of these assets right now, so I’m just, I’m hanging in tight, I’m buying right and sitting tight.

0:21:15.2 

SR: It’s been fascinating, even just in the last nine months to watch valuations blow out in the markets that we’re chasing, it seems like that story around the country, there’s very few places that aren’t being touched by this wave of appreciation that three years ago, I was hearing people say, oh, we’re in the 8th inning of the cycle, and it turns out from our perspective now it’s like you should have bought everything you could have, but you didn’t know. You have to be (inaudible) investors cash and at valuation or selling several assets now because we wanna take some chips off the table, focus around our core assets.

0:21:46.2 

CK: We are too, we’re, we got one that listed yesterday we’ve sold two in the past 12 months, so we’re and I have another few assets that I’m on the LP on that are selling for the exact same reason, it’s like my unit count has taken a big hit, probably in the next 90 days, it is what it is, I’m not after that number, I’m after good assets that pre-produced cash flow and you do have to take chips off the table when you had big wins like that.

0:22:07.0 

SR: Money isn’t everything, but when you can pull out and realize an exit that has a (inaudible) too, attached to it, you gotta think long and hard before you say no.

0:22:16.6 

CK: 100%. Yeah, when you can sell something for twice as much as you paid for it two years later, like it’s like, well, I kinda have to sell. 

0:22:24.6 

SR: It doesn’t really matter how I get the cash flow, especially in this environment it’s like, well, let’s get that redeployed and change our basis a little bit. 

0:22:32.6 

CK: Yeah. 100%.

0:22:33.0

SR: You had mentioned that you’ve read a lot, I’m curious if you’d have a book or two that you would recommend to folks who are looking to get into real estate or in real estate, is there anything that comes to mind that’s a standard go-to for you?

0:22:45.4 

CK: Obviously the standard answer is, if you’re getting into it as Rich Dad, Poor Dad, but there’s a lot of good books on syndications, like Matt Faircloth has a great book, apartment syndication. I think Vinney Chopra has a great book too on syndication, all books are great, I read a lot of mindset business books too. (What’s your go-to in that category?) So, anything David Goggins – Can’t Hurt Me is a great book – that’s not for everybody but, Relentless by Tim Grover. Those types of books, the mentality of the high performers, if I look at my shelf, I mean, from a sales aspect, Never Split the Difference is probably the best sales book I’ve ever read, followed by Sales EQ by Jeb Blount, and then I would say Pitch Anything by Oren Klaff or Flip the Script by Oren Klaff is another great sales one. 

I encourage everybody to tune up their sales game. Everybody’s in sales, whether you know it or not. Understanding the concepts and the basic principles of emotional intelligence, empathy, how to ask great questions, how to position yourself in a negotiation. If you’re in a conversation with somebody and the desired outcome is something of anything, you’re in a negotiation, and if you don’t know you are the other person likely does, and you’re likely gonna lose. So, I don’t know. And that’s true with your spouse, with your kids, with any conversations you’re having at the grocery store or multimillion-dollar real estate deals. It’s the same. So those are some of the books I would recommend for sure. 

0:24:02.4 

SR: As our economy evolves, as society changes, there’s a lot of the “hard skills” that are going away or being automated out, but sales is one of those that will always be there, always be there. If you’re good at sales, you can use that in a lot of different ways, it doesn’t have to be door-to-door selling encyclopedias or copiers, as the case may be, but that emotional intelligence that Chad mentioned a couple of times is crucial, really to living life well. Being able to understand where people are coming from, empathize, and then work towards a common goal or the desired outcome that fits the needs of all parties.

0:24:37.4 

CK: 100%. Couldn’t have said it better.

0:24:38.5 

SR: Awesome. Chad, really enjoyed having you on the show today, final question, what’s one thing that you would attribute your success most too, but maybe our audience could glean.

0:24:48.5 

CK: Having good partners, having good partners in your life, my wife, number one, my rock, my spouse, for sure, and then having good partners in all my other areas in my other businesses, it’s the ultimate way to scale and grow faster, it’s the best way, too. It’s just having great, and you’ll go through some bad partners by the way, so you’ll have partnerships that don’t work out and that’s really tough, those are hard, but ultimately, the ones that do, it makes it all worth it because doing this racket when you feel like you’re on an island, some months makes it like not worth it. So that’s what I would attribute to my success. It’s great partnerships or great relationships with people.

0:25:24.5 

SR: Excellent. Well, if folks wanna find out more about you, learn what you’re doing in the Tennessee area and surrounding states. Where can they reach out to you, Chad?

0:25:32.9 

CK: So, a couple of things here. So, you can get me on Facebook at Chad King or on Instagram at MrChadKing, it’s just mrchadking. And then I put together a little giveaway, just for y’all audience, I have a mastermind group called 7Figure Multifamily, and I did this challenge where I went into a new market in one week, in five days with one hour a day, submitted an LOI on an apartment complex by the end of the week. So, I would teach people how to do it to try and remove limiting beliefs, and I’ll send you the link, we’ll put it in the show notes, but I believe it’s (7Figuremultifamily.com/chad). I’ll you, I’ll get you the link for it. But if they wanna just watch that video, we charge money for, but for you guys and your listeners, if you wanna see how to go from not having any relationships in the market to being able to submit an LOI and an apartment complex in five days, we’ll give that challenge out, and then we have an event in June here in Nashville, a multifamily event, to go to multifamily live event dot com if you wanna get more information about our live events.

0:26:28.8 

SR: Fantastic. Chad, thank you for joining us. Thank you to our audience for joining us for another episode of The Real Estate Syndication Show. I’m your host, Sam Rust, signing off.

0:26:36.0 

Whitney Sewell: Thank you for being a loyal listener of the Real Estate Syndication Show, please subscribe and like the show, share it with your friends so we can help them as well. Don’t forget to go to LifeBridgeCapital.com, where you can sign up and start investing in real estate today. Have a blessed day. 

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