WS1459: Business Scaling Tactics Applied in Real Estate Investing | Amit Gaglani

Episode 1459

[INTRODUCTION]

Amit Gaglani (AG): What I realized is an MBA is only gonna get me theoretical knowledge. It’s not gonna give me practical knowledge. And I need a company that’s gonna teach me, literally teach me practical knowledge that I can implement right away. Found a company in Florida. They trained people to become a CEO of their company and they specialized in physical therapy.

So I was like, wow, this is the niche that I need. I literally went down there, listened to everything, and I cut them a check for I think $35,000 at that time. And I said I’m just doing it because this is what I need. And then I basically would go down three, four days at a time, take a course. Come back up and implement it in my practice, implement it for over eight weeks, and then go back down again.

AG: That took five years of going back and forth, back and forth, but while doing that, I was scaling my company. 

[INTERVIEW]

Whitney Sewell (WS): This is your Daily Real Estate Syndication Show. I’m your host, Whitney Sewell. Today our guest and he learned to scale businesses before he got into real estate. His life took a different path than he expected early on and he was in the medical field, which you’re gonna hear about, but all of a sudden he figured out that he needed to know more about business. And you’re gonna hear about that path, but how that also applied to real estate and it’s gonna help you in your business. No doubt about it. Our guest today is Amit Gaglani. He is 20 years as a healthcare practitioner, has a business experience scaling and selling his business to private equity twice. During the process, he invested in syndications, aggregated 67 plus, accredited investors, and now is the owner of AG Management Consulting Incorporated. He’s helping Accountable Equity as the head of growth where he is on the leadership team creating funds and systems to help scale that company as well.

WS: I’ve got to meet him a few times now in person, which you’re gonna hear about. They have an amazing event at Accountable Equity for their investors, which I got to speak at not long ago. And it was just a great opportunity. They just have some beautiful properties. Obviously, they’re in the hospitality business, and they’re, anyway, a great team. I’ve enjoyed them a lot. I know you are gonna learn a lot from Amit today. 

WS: Amit, welcome to the show. Honored to have you on. It was great to see you recently as well. And, I wanna share with the listeners a little bit about that, what you all do, where we met and how you all just operated. It’s incredible. But I know there’s so much we need to learn about you before. We talk about your current role and just the scaling that you’re helping with over at Accountable Equity and those guys there so. But who are you? Tell us a little bit about your story. Cause I know. you have a lot of experience scaling businesses. And then now, and that was even before the syndication business. 

AG: Thanks for, having me on the show. It’s great seeing you twice now. I’ve seen you down in, Is it the South Carolina that we met?

WS: Oh, that’s right. 

AG: Yeah. And then we met again when you did our Learn and Grow event in Maryland. So it’s great and it’s great to have to learn about you and your family and all your journey and things like that. But again, I appreciate the opportunity to be able to share my journey. So yeah, so my first name is Amit. My last name is Gaglani. I’m a physical therapist by training and I did physical therapy school in Scotland of all places. I had a wonderful opportunity, so I was there for three years, which honestly made a big impact in my life. Came back here, started practicing, loved physical therapy, loved orthopedics. So I decided I was gonna specialize in Orthopedic Physical Therapy. That started my journey as, you know, somebody that was trying to help other individuals to try to get the best out of them. And I don’t think that journey has stopped, even though my profession has changed.

AG: So it’s still, you know, I’m still trying to help people in different ways. But yeah, I started off in healthcare, Whitney. Yeah, it was totally, you know, unrelated to what I’m doing right now and just an interesting path that how life leads and how life takes you. So it started off in healthcare and physical therapy. Started working at a multibillion-dollar company called Health South, which had facilities across the whole country in something called outpatient. So we treat patients who are just like you and me, have a problem. Want to go in, get quick help and, you know, and a couple weeks later they’re able to do their thing again. And it’s great cuz you’re seeing lots of different people. One person for a neck problem, one person for a foot problem, just different things. And you just gotta jump in there and gotta figure it out and get it going. That started my journey.

WS: You know, when did you, so you started, you actually went to Scotland. That’s so neat that you got to spend three years, abroad and no doubt. I mean you said it changed your life, you come home. When did you move the mindset from, hey, I’m gonna be a physical therapist, I’m gonna work an outpatient and help people? And as good as that is to, hey, I’m gonna scale my own practice, my own business. And not only do it once but when did that first change? ‘Cause I just feel like it’s a big mindset shift. My wife and- I don’t think I’ve ever shared this on the show or hasn’t come up, I don’t think, but my wife is also a physical therapist. but I feel like it was, like her thing was, hey, I’m gonna help people. And she never really desired to have her own practice, you know? But when did that happen for you? 

AG: So, same thing, I never really had a thought even that I was gonna own my own practice. I was just really day in and day out. I would come home and study and wanted to become the best therapist I could. And somebody took notice and said, hey, would you run this practice for me? And I said, sure. And I did it once. And he said, well, you know, do you want open? Actually, I said, hey, let’s open another one cuz it was a good opportunity. And I did. And then a patient that I was treating gave me a book, said, why don’t you read this book called Rich Dad Poor Dad? And I got bit, I got bid by the bug and I said, oh my God, there’s a whole world of stuff out there. 

AG: Then I read that book and then I read another book called E-Myth and I was, wow, I can systematize things by Michael Gerber, by the way. I can systematize things. And then from there on, you just don’t, it’s like that moving the matrix. Once you swallow that pill, it’s like you just can’t look back now. It’s like everything is different. Completely. That’s exactly what happened with me. You know, I never really had the idea of doing private practice, and then from there on out, I could never really see myself not doing private practice. 

WS: Wow. 

AG: So it was that moment that I had decided that I was going to, you know, figure it out and move forward from there.

WS: Love that. It’s interesting that you know, somebody gave you Rich Dad poor Dad and kind of opened your eyes to this opportunity, right? Same thing for me. I read that Rich Dad Poor Dad, I mean, like so many other people. It’s incredible how many people’s lives that book is touched. And I think of nothing else, just opening your eyes to the possibility, right? And then there’s still so much to learn, of course. But man, that just really clicks most people, right? You know, it just changes, how you think about the possibility of growing something and what can be done. So your patient asked you to read this, you said, you know what, I, there’s something there. I need to go figure this out.

WS: You all grew another practice, right? Sold it. Give us that a little bit up to, you know, moving from hey, and we grew two practices, sold them to real estate. And so why not grow a third or fourth or bigger or whatever, you know, on the physical therapy side versus moving into real estate? 

AG: So, I gotta tell all the listeners first, it was not a smooth journey, by all means, nothing went smooth every day. 

WS: It sounded easy.

AG: In day in and day out, like getting up in the morning and you know, getting up at five and being there by six 30, start treating patients and being there until nine o’clock at night and you know, and you’re just trying to figure it out. And I started my own private practice, quickly realized I didn’t know what I was doing at all. And you had to treat patients. That was the easy part. I could get people better, but business-wise, no clue. No idea. And I would just call my friend who was in private practice. What are you doing? I would call another one. What are you doing? They’re telling me all these different things. And I was like, these guys don’t know what the hell they’re doing. They have no idea what they’re doing. So I went and decided I need to get educated on being a business owner. And I found a company and what I realized is an MBA is only gonna get me theoretical knowledge. It’s not gonna give me practical knowledge. And I need a company that’s gonna teach me, literally teach me practical knowledge that I can implement, right? 

AG: Found a company in Florida. They trained people to become a CEO of their company, and they specialized in physical therapy. So I was like, wow, this is the niche that I need. I literally went down there, listened to everything, and I cut them a check for I think $35,000 at that time. And I said I’m just doing it because this is what I need. And then I basically would go down three, four days at a time, take a course. Come back up and implement it in my practice, implement it for over eight weeks, and then go back down again. That took five years, going back and forth. But while doing that, I was scaling my company. You know, I went from one office to two offices, to three offices, to four offices.

AG: I had about 40 employees. I think I had about 12 physical therapists, and you know, we were at a decent enough scale. And this goes now, fast forward several years. I think I started my practice in 2004. I think so, yeah. And then several years, you know, you’re scaling, you’re winning awards for doing things. You’re just focused on building, building, building. I started getting noticed by private equity companies and I started getting noticed by strategic. So what strategics are larger physical therapy companies, because you have a pocket of area, you’re the known person in that area. So for them to penetrate that area, they could either try to hash it out and go head to head, but you have all the physicians and you know them and you have the relationships or they could try to buy you over.

AG: So that was kind of happening. They were kind of honestly talking to me constantly and I decided then that if I want to 10 x my company, I need to figure out a better way because I was a small person considered in a very big world over there in physical therapy, so I couldn’t negotiate better rates. I couldn’t do a lot of things that the larger companies could do, and I realized for me to 10 X myself, I’m gonna have to align myself with a larger player that can come in.

AG: I kind of went down the idea of, okay, well let me figure out what these guys value, how they value the company. Once I know their formula, then I’m gonna go to work for the next two years to try to build the company to the highest value possible. And then I’m gonna put myself up for sale. And in sale, not in the sense that I’m walking out a hundred percent, that I would retain a certain large percentage, and I would work then in it to build it up even higher to sell it again.

AG: And that’s exactly what I did. And I decided that the private equity route was smarter for me. And the reason why is because I wanted to be a big fish in a small pond, and I did not want to be the small fish in a big pond. And what I mean by that is strategic, larger physical therapy companies wanna buy you, give you a couple million dollars in your pocket and say, okay, well you’re a millionaire now. Go treat patients all day long. And I said I’ve come too far just to treat patients all day long. Now, don’t get me wrong, I really loved helping people and I love doing that, but I just figured I had more to offer, right? I found a PE company, private equity company that was hungry to get in because they didn’t have what they called a healthcare vertical, and they wanted that. So I lined myself with them. I was one of the first partners that joined and then, you know, we scaled from my practice to multiple practices to having a hundred across the country. And that’s where it gets done. 

WS: Incredible. So yeah, like you said, it was a very easy path. I’m just kidding. It’s incredible. I mean, that doesn’t happen without a ton of effort. But it’s incredible that also that you said, hey, I’m gonna seek some mentorship. Sounds like, right? You found somebody that could train you on the business side. And I think I see that as well. I mean, it’s, and we all of us that even have doctors or physicians or somebody in the medical field that, you know, has their own practice often, hey, they’re very busy doing what they’re really good at, and the business side kind of takes a hit, right? And it’s, it’s often, it seems that happens. Whereas I talk to investors, it seems like a common struggle, right? They don’t want, they don’t have the time to, to devote learning business, right? Cause they’re focused on their clients or, you know, their patients and you saw an opportunity to scale. And I think even in that sense, probably helped a lot more people as well because you scaled and you grew a brand, a company, and-

AG: That’s actually the side that people don’t see, right? Like my goal was also to help as many more patients as possible. Amit Gaglani could only see so many patients a week.

WS: That’s right. 

AG: But when you add on other clinicians and you train them to be the best that they can be, you can see a lot more people. Therefore, you’re helping a lot more people. 

WS: Yeah, for sure. Okay. You sold that, you said, you know what I’m gonna take that second exit. 

AG: The second exit happened, right? I sold to the private equity again because we built it up and then I sold it again. And then I basically had some time and I said, okay, what do I want to do? You know? And somebody very intelligent advised me, write down the things that you wanna do. Write down the things that you don’t want to do. Write down the things that give you passion, and write down the things that really don’t. And just follow and pursue the things. So you’re at a point in your life now, you’ve achieved this. Don’t jump into something you don’t wanna do and don’t make a fast decision. 

AG: So while that was going on, Josh McAllen of Accountable Equity, which you know very well and I know very well, which was somebody I had been investing with for a while, as one of the early investors in Renault Winery approached me and said, listen, we know you, you keep bringing tons of investors to us. You obviously like what we do here at Accountable Equity. Why don’t you join the leadership team? And I hemmed and hawed for a while and said, I don’t know if I want to do this. Is this what exactly I want to do with my career? And I wrote down the things that I was good at. And one of the things I was good at was what he wanted me to join was to help him scale and help the investors and things like that. And I knew their products and I said, all right. So earlier this year, I think it was a couple months back, yeah. I said, all right, I’m in. I’m fully in. Like, I want to do this with you. That started my journey in a boutique private equity now. 

WS: Love that. 

AG: So it’s interesting from healthcare.

WS: How were you first exposed to syndication and even investing in something, you know, like accountable equity and those projects?

AG: Well, listening to podcasts like yours, believe it or not, I would listen to podcasts incessantly and then write down things that I didn’t understand, write down terminologies that I didn’t understand. That was listening to one of a family office, and I heard Josh McAllen talking now. I didn’t know him from a hole in the wall.

AG: He started talking about these resorts and he basically mesmerized me and I said, where is this? Where is this? And he says, It’s in, he said it was in New Jersey. And I said, wait a second. I live in New Jersey. So I did not tell him that I was thinking about investing. I went down and I kicked the tires around, not telling anybody that I was a potential investor, and people were opening doors for me saying welcome home. And I said, hi, are these people going here? Like they had no idea. That’s just how Josh is trained to everybody in the hospitality industry over there. That’s what they do. They open the door for you. They say welcome home. They just treat you like family. And I said he had something special here because I built a company and I’ve sold a company and I know getting that culture going is not easy. And that’s what made me really, really like what he was doing. And with the properties and the vineyard and the golf course and hotel and the restaurants. And I was like, that’s what opened my eyes to him.

WS: Love that. Yeah, culture’s so important, so crucial. I love that I opened the door and say welcome home. So now you are the Head of Growth at Accountable Equity. What is that? What does that title have behind it? What do you do there? 

AG: Yeah, so it, it involves definitely growing our investor community. This company is founded by investors investing in these properties. So our investor community, and we talk about it at our learning growths, is very important to us and satisfying them and making sure that they’re nurtured and, well, understand what we’re about.

AG: So, helping to grow the investor community is part of the head of growth responsibilities. Also looking at opportunities that are out there for us. We may have started and redeveloped these hospitality things, but we’re more than that. You know, we have opportunities like with your company, with other companies that, you know, we love to be able to partner with and do things with because there’s a lot of synergies, as you know, out there with good people.

AG: And we’d love to be able to explore those types of things. So really, head of growth means growing our assets, growing the company, growing, just everything in general for the company, and I am an investor here. I’m not just a hired gun and the leadership team is all investors. So it’s investors looking out for other investors. So we feel good about that.

WS: Tell us about how your, say the skills you gained from growing the physical therapy business, you know, a couple times, you know, and really scaling that has helped you now to apply that to accountable equity and, you know, this syndication business there helped us to do the same thing.

AG: Yeah. Well, you know, the thing is when you’re a CEO of a company, you just know that you’re gonna come up against barriers and you don’t let those barriers stop you. You figure out a way around it, over it, under it, whatever you gotta do, you just get it done because that’s what you’re built up for. You know, you’re just built to get things done. You’re not built to let people stop you or things to stop you in the way. And I bring that to everything I do. I just, you know, this is what I’ve decided is what we need to do. I figure out a way. So I think that’s, there’s a different mentality shift with somebody who’s an owner operator as opposed to somebody who’s a staff member. You know, they’ll probably go back and say, I can’t do this, or I can’t do that. With an owner mentality, that isn’t an option. So I think that’s the unique skillset that you, once you’ve figured that out, you just, you figure everything out. 

WS: So tell me how, you know, whether it’s Josh and you, the relationship, how, he’s instilled or it’s happened for you to have an owner mentality, you know, as your own staff there. I would love to do that across my team. So I just wondered.

AG: He gives me a lot of latitude. He knows who I am, he knows what I’ve built, so he gives me a lot of latitude. It’s just general guidelines, hey, this is what we’re looking to do, and then it. For me to figure it out. If nobody’s holding hands, nobody’s holding hands and do that.

AG: Now, don’t get me wrong, I’m learning things that I’ve never learned before. You know, on the back end, some of our, like our portals and things like that there, I need some holding hands to understand like, how does this work? How does this get connected? So yeah, Josh, you know, we have a leadership team of, like I said, a lot of early investors and they’ve taken roles. You know, and then we kind of work with each other and help each other. And you’ve met them, you know, fortunately, you’ve gotten a chance to meet all them. But it’s funny, if you see us all and you’re like, wait, these guys are all original investors. They’re not like hired here. Like, you know, that’s where we all come from. So, Yeah. 

WS: That’s really neat. I think it’s pretty unique as well. I don’t know many operators who have hired that many investors, right? And grown a team that way. What I was gonna say about you though, I think, you know, even coming from the physical therapy, growing that business, scaling, all the things you learned there, I think you already had like the most important thing there and you already mentioned it, you know, it’s, this is the mindset that, you know roadblocks are gonna come up and you already are determined to go over underside, whatever, go through. It’s not having to hold your hand, right? You already have that mindset of an entrepreneur and being able to figure things out. You’re not gonna be surprised when there is a roadblock and that happens to many, right?. So, yeah, that, that’s incredible. So what’s next? What’s next for you? What’s happening at, Accountable Equity or maybe, explore a challenge that you’re working through right now with accountable equity.

AG: Well, I mean, obviously the economy is very interesting right now is, I’ll use the word interesting. We’re looking at opportunities. We’re looking at so many great opportunities for us to be able to buy things. So we’re trying to position the company in a way to be able to take care and take advantage of these opportunities as we see them.

AG: So, for things like, you know, strategically having, you know, more cash on hand, things like that, just from a strategic standpoint. Like, look, we know what’s happening in the economy. Let’s get ready for it. Let’s take a look at all of our income sources, let’s dial things up in certain areas, let’s dial things down in other areas. Being very smart strategically, but also positioning ourselves for great opportunities that we see that are coming down the pike in the future. Like we wanna be able to purchase things and we can probably get certain things at a deep discount. So let’s just wait and see. Let’s just position ourselves right now.

AG: We currently have three funds open that we’re really excited about. One’s an equity class investment, one is a tax-efficient investment, and the other one is the new thing that we just started, which is the collateralized debt fund, which basically allows us to, to our investors to be the bank. Now I will tell you a little story on this one cuz just cuz I think it’s fascinating. Josh allowed me to when I came on board and he said, I want you to create your own fund. You invest in a lot of different things, which I do. I invest in multifamily. I invest in self-storage. I’ve invested in oil, I’ve invested in gas, I’ve invested in ATMs. I’ve invested in a lot of different things. So, and I did this through as a business owner, so I have a lot of experience and look at a lot of PPMs and I understand the different structures. So he said, why don’t you create a fund the way you would like it as an investor, and let’s backward engineer it to make it work for us. 

AG: And that was a unique thing for me to be able to be given. And I said, Absolutely. So I started talking to certain investors and I said, what would you like to see in this? You know, and I took my note and we created the CDF. Now what the CDF is, think of it as a high-yielding bank account where somebody can get anywhere from six to 10% depending on how much they’re putting in. They’re getting monthly distributions. And the big kicker is they get liquidity, which means they need to pull the money out, they can pull the money out. There’s no lockup period, so that is not something you see very often, especially in the marketplace where people feel a little bit jittery and they feel uncomfortable being locked into something. This allows them to have liquidity. And they’re in a very secure position. And a lot of investments, investors are in an LP position, and here they’re in a creditor position. So they sit closer to the top of the capital stack, right at the mezzanine debt level. So basically what that means is you’re more secure. Your funds are more secure. 

WS: Wow. Okay. So it’s a higher yield. What was the second part? Liquidity was the third thing. 

AG: Monthly distributions. 

WS: Oh yeah. Monthly distributions. Awesome.

AG: Mailbox money, as we all like to call it. 

WS: Yeah. I think that’s important to so many of our investors that it’s monthly. I don’t understand why people aren’t doing monthly distributions, but anyway. 

AG: Well, like he said, What do you want? I said I want monthly distributions. . That’s what I would like if I was an investor. I would love to see money coming in on a monthly basis. There’s a feel-good sensation when it comes to that. 

WS: That’s right. 

AG: As opposed to sometimes quarterly or yearly, I mean, don’t get me wrong, it’s all the same number, you know, at the end of the day. Seeing it come in on a monthly basis, has a nice feeling.

WS: Speak to how you, on the operator side, you manage the liquidity side of that. You know, how do you, you know, if numerous investors want their capital back or, you know, how do you all prepare for that? Something happens in the market and everybody gets scared and says, oh, you know, I mean, Josh, we gotta have our money. You know what happened? 

AG: We didn’t create the wheel. We just kind of recreated in the sense to kind of see what’s already out there. We already follow modeled many different people who are doing certain things like this, and what we’ve seen is traditionally there’s a stopgap. If there’s more than, let’s say 10% of the investors want all their money back at one time, we can’t. You know, why do we do that? Not to hurt them, but actually to protect them. It actually protects the fund, which helps protect them. You know, you can’t have every like a run on the bank, you know? That’s why banks have limitations too, so we have certain stop gaps in place that we can give it out.

AG: You know, at the end of the day, if there’s something going on and negatively out there, we don’t want all of our investors to get hurt. So we protect it that way. The liquidity is because we have different things that we’re using it for initially. The thing that we would want is on our Kent Manor property, which you are at, we’d like to replace the mezzanine debt level that we have there with the CDF money. So we already know that we’re gonna be replacing it, you know? So we’re basically swapping out. More expensive money for cheaper money and the beneficiaries are the investors in that fund cuz they will actually get that cash flow that we’ve been giving to somebody else. We’d rather, once again, it all comes down to our investor community. Rather pay our investor community that money than some other hard money lender who doesn’t necessarily, per se, care about the property or care about the company.

WS: I love that you also went to your investors to ask, hey, what would you like, right? And I assume you compiled all that and tried to- I pulled a certain amount of people that I could get ahold of. It’s not always easy to get ahold of people, but yeah. 

WS: Yeah. And I just think too, you know, you said it well also, and Josh, you know, it’s like from your experience of investing in all these things, it’s great for you to be able to have those conversations as well with all these investors and that you created something that accomplished that. I love the liquidity piece. I mean, even in the instance, we’ve had a, unfortunately, we’ve had two investors recently, that have passed away for one reason or another. And, you know, their families would, or whether they want the money back or not. You know, they’re trying to figure some of that out. Of course, it’s not an easy situation, but there’s helpful times when it could be more liquid, right? You know, to serve our investors better. And we’ve tried to think through some of the ways potentially we could do that. There’s ways we can transfer those shares, of course. And that’s what we’ve done. or the GP site, we’ll buy the shares or whatever, for those investors, you know, so, and those families.

WS: But anyway, I love that you pulled the investors, you figured out all, you know, a way to do this. What’s the length of that fund? And you know, how many projects will be in that. What’s kind of the plan for that? 

AG: So the CDF fund is meant to be an evergreen fund. It’s not a close-ended fund. It’s evergreen because the money can be used, like I said, as many mezzanine debt level for our initial use is gonna be Kent Manor, but we could use it at Renault, we could use it at our LBI. We have many different properties we can use it on beyond that debt level, we have. As you are at Kent, one of the main problems that we have is we don’t have enough hotel rooms. We keep selling out or with weddings, but we don’t have enough hotel rooms so we’re giving away to other nearby resorts our hotel space. So we would love to be able to use that money to start construction at times when we could. So we’d rather, you know, start the construction right away. We could use it as other opportunities to buy properties.

AG: We’re getting properties that are being shown to us at deep discounts and sometimes the opportunity to negotiate comes right then and there. You don’t have the time to sit there and say, okay, well let me go look at institutional debt. Let me fill out their 5,000 forms. Let me see who’s interested in this and that. That’s a time value that you get lost. If you have money, like let’s say in a CDF, we could use it as a bridge loan, which is, you know, a short-term loan, get in there, get the property, and then look for institutional and swap it out. So it just gives us the nimbleness in business that will benefit all of our investors.

WS: Yeah, I love the flexibility and the options that a fund gives you. It does. And even like you talking about, being able to jump on an opportunity, no doubt. And it gives you that opportunity to be able to say now, hey, we can close next week, right? 

AG: Exactly. Yes. 

WS: Love that. We’re gonna move forward a little bit.

WS: I got a few final questions for you. I mean that we’ll run through. But, we’d love your, just your thoughts on some of these, of course, and to help the listeners and myself. but what about, you know, thinking about, you mentioned this a little bit. Are any steps that you all have taken to prepare for a downturn, right? Obviously, that is just like on the top of everybody’s mind right now. You know what’s happening and we know you and nobody else really knows what’s gonna happen next month and 12 months from now, but we can prepare, right? And we can think about what’s happened in history and all those things, but what’s some things that you all have done to prepare, for a downturn?

AG: Well, the biggest thing would be just having more cash available on hand. That would be the biggest thing. Because nobody knows what’s going to happen. And in that you don’t want to be strapped. You don’t wanna be in a position where you don’t have enough cash to do the things that you need to do. So fortunately for us, we run resorts that has a lot of different, what we call levers. And what I mean by that is we have a lot of things that we can play with when it comes to the finances in the company. For example, we have a winery, so we have a wine club, so this causes some cash to come in. We can adjust pricing on a daily basis. When it comes to hotel room, that’s another lever. We have golf memberships, we have, you know, daily rates. We have things like that we can adjust. So there’s a lot of things, a lot of levers that we can play with to adjust how much money we’re taking on or how much, you know, we want to, if we see a slowdown, we can actually adjust our pricing to allow for, you know, to decrease certain things, which, you know, is harder in certain other segments of the industry.

AG: But with us, we have a lot of those little things that we can kind of play with that allows for more cash right now. We might give, you know, a discount here or there if we feel like we need to based on that. We have weddings that we book out much ahead of time. But during the wedding, there’s other things that they buy. You know, when the groomsmen and the bride, the bridal party comes in, they wanna do other things on the property, they don’t want to just sit there, right? They want to go and experience a wine-tasting event. So there’s adjustments that we can make on that. They want to experience golf for the day. You know, these are all the things that we can do to play with. So when you say, well, what can we do. These are all the things that being able to be nimble in business allows us to be able to adjust and obviously storing a little bit more cash. 

WS: I love that you all have many sources of income at most projects for all properties, you know, and like you said, there’s just, there’s so many options there for you all. We could talk about that probably a lot longer. Unfortunately, we have to move on. But what about, your all’s best source for meeting new investors right now? 

AG: That is a good question. We, I think because we’ve been around for a little while doing podcasts like this and people meeting me through the different podcasts and reaching out through email or our website, Josh has written a book that gets out there. You know, we go to different networking events. We meet people like us, and they introduce us to other people. 

AG: The biggest source I will tell you is our current investor community connects us with other people all the time, which is a really testament to us. Because you know they’re happy with their investment and they want other people, and we tell them we want people like you. There’s a certain type of person that we want in our investor community, people who see the things the way we are. 

WS: How do you encourage them to send referrals? 

AG: Yeah. So really, these learning go events, whenever we have these learning go event. People get to know who we are and when they know who we are and how we are, they feel like, okay, well this is either attracting them to it or this is not attracting. Thankfully people are attracted to what we’re doing. People are attracted to the resorts. People are attracted to what our methodology is and how we are, and you know, the caring that we give to our investor community and the meals that, the preparation, the hospitality, all of that feeds into it to get them that, those warm and fuzzy feelings, you know, we’ve been trained not to invest emotionally, but really these type of resorts are absolutely 100% in an emotional investment because you will feel it when you’re there.

WS: I loved the, you know, the project or the property I was at, I mean, got to speak there. I love the event. I just thought it’s a great idea. I think you all have an advantage and a big way of owning properties like that where you can hold investor events there and I mean, it’s your style. That’s caring for your investors, you know, when they’re there and your investors are getting to this network and have a fun time together and stay overnight there. I mean, it’s just, it’s such a unique experience for investors and I love that and being able to be a part of that. So what are some of the most important metrics that you track? It could be how much you bench pressed to getting up on time, to how many deals you all learned to write or anything. What’s the most important metrics? 

AG: Honestly, right now, because I’m so focused on the investor community, always just trying to grow the investor community. There’s other metrics, but I would say that’s the one that’s overwhelmingly, you know, that our investor community and how many people that we’re able to serve and how many people that we’re trying to outreach and trying to grow that community. I would say that’s the big one. For me, at least. 

WS: What about daily habits that you are disciplined about that have helped you achieve success or produce the highest return for you?

AG: So, I tend to get up pretty early at five in the morning, and I go to the gym and I work out. That helps me with my mindset, helps me just in general, you know, I go, come back home and I have a routine with my vitamins and my protein shake and some coffee. It just gets me going, you know, all these different things that you do for your body to get yourself in the right working conditions. I think those things, you know, regular exercise, you know, I try to do, I received a great book yesterday called The Family Boardroom and you know, getting into that reading. So yeah, trying to read as much as possible. I wish I could, by the time I get to reading, it’s like 10 o’clock at night and I’m just like starting to pass out. So, I never get as many pages in as I want, but, you know.

WS: That’s awesome. What about, how do you like to give back?

AG: So, I’ll tell you just a really quick story, and this affected me while I was, you know, treating patients. I saw a movie called Patch Adams if you recall that movie. Okay. That was with Robin Williams and there was a line in the movie and the line was, you know, from Patch Adams, he says, If you treat a disease, you could win or you could lose, but if you treat a person, you will always win. So I just remember that. That treat the person not the problem. And I remember that in physical therapy too. And I can’t say that alone made me successful, but I can tell you that patients would always ask for me and always want me because I would be looking out for them as the individual, not just their knee or something like that.

AG: And I take that to what I’m doing today too. So when I’m talking to investors, I’m talking to them, what’s right for you? You know, it’s not about how much money you’re investing or we want this or we want that. It’s about what is right for you and what fits you. Because I want you screaming from the room rooftops on how happy and satisfied you are with what we’re doing, and you will bring other investors in. That’s the community that we wanna build. So I will answer the question that way. 

WS: That’s incredible. I love that quote. I don’t remember that I’ve seen, that’s been many years ago since I’ve seen that. But that’s a great quote. I like that a lot. A lot. Well, I mean, it’s been a pleasure to meet you again or not meet you but see you again, right? And then get to know you better and hear more of your story than I had known before. And just see your work there at Accountable Equity as well. And so thank you again for your time and being willing to share just your experience of scaling and now helping scale again.

WS: Tell the listeners how they can get in touch with you and learn more about. You accountable equity and the funds that you all have open right now?

AG: Well, definitely, if they’re interested in anything that I’ve said, they should check out our website @www.accountableequity.com. Check things out there. They can reach me, and I’m sure you’re gonna have my email or in the show notes too, [email protected]. So that’s [email protected]. They can find me at LinkedIn under Amit Gaglani. They can follow me there, see what we’re up to, and you know what we’re doing on property as well.

AG: So, by the way, I love to talk to people. So you know, I’d love to talk to any of your listeners that have any interest in this stuff or just have never even invested in syndications, don’t know anything about it, and they just want to tiptoe in and understand it better. That’s how we all got started. So yeah.

[END OF INTERVIEW]

[OUTRO]

WS: Thank you for being with us again today. I hope that you have learned a lot from the show. Don’t forget to like and subscribe. I hope you’re telling your friends about The Real Estate Syndication Show and how they can also build wealth in real estate. You can also go to LifeBridgeCapital.com and start investing today.

[END]