WS1128: The 80/20 Business Strategy with Randy Lawrence

EPISODE 1128

[INTRODUCTION]

[0:00:01.6] 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. 

0:00:24.3 

Whitney Sewell: This is your Daily Real Estate Syndication Show. I’m your host, Whitney Sewell. Today, our guest is Randy Lawrence. 

Randy is also known as the real estate preacher out and sold over 1000 houses and built a 250 million multifamily portfolio and is changing the lives of his residence and investors, he’s built a large business with a large team, he’s so very well, but he was starting a church, actually, I was a full-time pastor, and then also starting a real estate business, and we’re gonna get into that today, how he managed that, how he knew what to focus on, how you juggled those things to grow the business that he has today. He goes into details about the structure of his daily meetings with his teams and why that is so important, but he goes into the 80-20 principle and how he has used that to scale what he has today. I know you’re gonna learn a lot that you can apply to your business and grow today.

[INTERVIEW]

Randy, welcome to the show, it’s an honor just to catch up with you again, but I’ve enjoyed getting to know you and hearing more about your story and just your success. I know you have some specific things that have helped you to just have the success in your business that you have, and even in other avenues of your life, I know we’re gonna talk about, but give the listener a little more about who you are and you’re focused right now in your business.

0:01:43.5 

Randy Lawrence: Yeah, so again, great catching up with you as well, and just honored to be a part of the show and to hopefully be a blessing through the folks listening to myself or company prosperity Capital Partners, real estate investment focused on multi-family. We currently have about 250 million in assets under management that we own, which will double in size over the next roughly 24 months. We’ve been in the real estate investment space for 18 years, also bought and sold a thousand homes during that time, and still have a residential division that buys in sales house is not as aggressively as it once did, and then also, I was a money manager stock broker registered investment advisor for 15 years, sold that company in 06, and it just like we were talking before the show. From 30 to 45, in addition to these responsibilities, pastored and founded a church, which later merged with another church, as I transition back at 45 to just exclusively focusing on the ministry of real estate, so a lot of exciting things have been happening and hopefully can share some value add to the listeners with what we’ve learned along the way.

0:02:51.9

WS: Awesome, well, I think it’s interesting, and I think it’s encouraging as well to listeners, whether they’re passive or active, especially trying to get started in this space. It’s like, how do I get started? I still have to support the family, I still have this other job, but I wanna get this thing going, maybe you could shed some light there on how you did that you’re starting and pastoring a church that’s no small feat in itself. Right, I personally have seen that happen, I’ve not done that, but it’s a massive task, you’re caring for so many people, you’re being pulled in so many directions, and then you’re over here trying to start with business as well. What would you say are some things or some tips that you have to managing that and being successful in both of those areas where both of those require such a ton of time, not… Probably just for yourself, but for your family, also. 

0:03:38.3

RL: Yeah, absolutely. Well, and again, I know we’re gonna talk about the 80-20 principle, but really identifying what are the most critical components to your success, and I remember going back using… You’re asking that I remember living in seminal here in Ellis County in Florida, sitting at the dinner table with my wife at 6 o’clock and I’m like getting the call. There’s this property available, I’m like, Oh, excuse me, honey. And I got, I went into my office and looked at… This was 03, and real estate was just white hot here in Florida, and I remember I came out in like a guy a little… I don’t know, maybe my daughter is two at the time, and my like, Look, if this is really what it’s gonna be, this is not meant to be God’s best. And it really struck me ’cause it’s like, Look, okay, I’ve gotta figure out how to begin this journey, ’cause during the day I was managing money and also pastoring, and then now we’re creating this private equity and real estate company, and I’ve got a wife and small child, and so that’s where I had to begin to draw certain lines in the sand, if you will, or lines that we’re not gonna move, and one of those was that like, Hey, I’m gonna be home, and from six to seven, whatever that is, that I’m gonna be with my wife and daughter, and I’m gonna begin to figure out what’s important, how do I go about acquiring the properties… Who do I need to have on my team? Because at the time, I couldn’t go out scouring for properties, so I’ve gotta begin to find, well, who’s the people I can connect with that will do that for me, how to compensate them? Or they’re motivated.

0:05:04.2

RL: And so it began to be a process of discovery, and now I had a mentor from church, they owned about 2,500 doors. And I remember I bought, Carlton sheets, no money down course off of eBay, praise the Lord. Yeah, exactly, but it was the learning process, and that’s where again, nowadays you’ve got the podcast, you’ve got mentorship, you’ve got conferences that you can go to and learn, but then with that learning, you begin to segment it within your current responsibilities so that you’re not sacrificing one for the other… And then you begin to develop that, and that’s what I begin to do is to develop processes to help support that, like even in my money management business, I knew that I was gonna undertake the pastoring and then also this transition to real estate. So I sponsored a guy, in fact too, it’s funny from Nigeria with his E5, got him sponsored to go to college, he came on in the accounting role in our firm and also began to support clients, so I’m taking part of my income to pay his salary, so that that business is running well, but now I’m freeing up time to devote to the pastoring and the creation of the private equity in real estate, and you know, many people don’t wanna make that investment sacrifice, if you will.

0:06:19.1

WS: I hear this often, I don’t wanna give any evident way, I don’t wanna have to split up the pie, and ultimately you’re getting so much less right by keeping yourself in that mode like yourself, like you’re running everywhere trying to do everything, but that’s all you can manage to do… And you can’t even do it all well, but you decide, Hey, if I can find the right people to do these things, give them a part of the pie and now look at you, you’re just a great example of what can happen when you’re willing to grow like that, you know, looking back now though, what would you say if somebody is trying to get in the syndication business, who’s the first person they should hire or have on their team?

0:06:19.1

RL: The step one for sure is a mentor that’s where you want to be, you know what I mean like that’s critical, I think, and then the next person is gonna be somebody that can take and begin to execute on all the administrative stuff that you need to do, and ideally that person, but it’s a combination. And again, a lot of times people… And we do predictive index testing and dis-profiling all that, but they have that pension where they can also be detail-oriented for that administrative piece, but then also some number orientation because now you could have that person to be able to do two things, One administrative functions, but also began to train them in the underwriting, so it’s like you’re having maybe a 50-50 person, and you need a little bit of kind of a person that can wear multiple hats.

0:07:42.4

RL: Our team meeting, we have an ELT meeting every Monday. I have a morning huddle every morning at 8:45. And yesterday at the El ten meeting, I said, Look, even when we have 50 employees, I said, If you come and we’re siong stuff out, you know what I mean? There’s a definite creation of, I said, But I’m walking through the office and we’ve got 50 people on the team. And this person says, Oh, that’s not my job. I’m like, Bro, you’re not gonna have a job. Because we always gotta be willing to wear whatever that’s necessary to get it done. And my example of that was, they had done some work over the weekend in the office and there was… The dust from the ceiling had fell into the conference room, and we just hired a new director of finance, he’s starting at 8:30, I grabbed the vacuum cleaner out of the closet, I’m vacuuming the conference room here, just like the CEO back, like Bro, look, you’ve gotta do what it takes to get the job done, and I don’t wanna wait till Wednesday when the cleaning crew gets here and have a 30 conference room floor for our meeting.

0:08:43.8

WS: That’s a great example right there. The CEOS in their vacuuming. Right, and that’s why you’re the CEO role. That’s a great example of how you became CEO. You’re willing to get in there and get your hands dirty. I’m wanting to back up a little bit though, ’cause a couple of things you mentioned, I wanted to highlight, you said the first person mentor, somebody that’s where you want to be, and that’s great. And somebody that helps with administration could not agree more. Some type of a virtual assistant, in my case at the time, was some of the first people that I hired and helped me to go a lot faster, which sounds like… You know what you did, I took those things off my plate that I did not personally have to do that they could do, and I just think there’s so much learning, and I think that it’s almost taken for granted through that process that you just don’t think about that’s gonna happen ’cause after you’ve hired a couple of people like that, you’ve learned so much and the next hires get a little easier, you figure out things to look for, but the next thing I wanted to ask you about, you mentioned like a daily meeting, is that right, you have a meeting every day with your team?

0:09:43.0

RL: Every day, so we do a daily huddle, so it’s the first thing of the day. It’s probably a 10-to-15-minute meeting, depending on the size of your team. Longer, sure. And so what it is is what it brings energy to the day where the teams together and we go around the group and share our wins from the day before, or on Monday, our best wins from the week before, and so that’s a quick… And everybody’s celebrating and cheering on each other, and then once we go through our wins, now we focus on what are we gonna execute today, what’s our big rocks, here’s the two, three, four things I’ve gotta get done today. It’s part of a declaration, the Bible speaks about the power of the tongue and what you would say, so it’s a declaration that the teams making… It also brings accountability because you’ve got cross-reference of different departments, and so like the asset management team’s counting on accounting person to get their thing done and vice versa, construction and asset management. So they’re saying, Hey, I’m gonna get these three things done. And it ties into our 90-day rocks. So our company has 90-day rocks, each department has a 90-day rock tied into company focus, and then each individual has a 90-day rock tied into their department focus, and it’s amazing how you’re able to identify a great problem.

0:11:01.3

RL: Okay, hey, lets connect right after the meeting… Boom. Or right there on the spot, something quick, we can just resolve it and that person’s moving forward with greater success that… How long does that meeting normally take? So we have almost 10 people in that meeting. It’s right at 10, and so it’s about 15 minutes, so our start time is 8-30, again, a lot of people hear sooner than that, so we get started 830 in the meetings on sharp 845, if you’re late, you gotta do push-ups for every minute that you’re late, and that was the team put that together, right, and we have kind of a chant at the in boom, and we often run in by 9 o’clock is a lot of that people getting off on a rabbit trail, counting this into the structure in 15 minutes, ’cause that’s a fast meeting for 10 people, right. How do you do that? It is, yeah, the repetition of bringing people back, but they get off on a rabbit trail or that, Hey, just the win. Just the win. Just win the bumblebee. Okay, what’s your top three for today? And so after a week or two of having to help write people in, it’s pretty tight where…

0:12:05.8

RL: We just hired a director of finance. It was his second day-to-day bam, he’s on it, having seen yesterday’s meeting, so everybody doing it on his win was processing some of the new systems yesterday. His goal for today was learning the drop box in poti, which is one of our CRMS, and so again, I think within a week or two, you got people pretty tight, you just can’t let them run it. They started talking about grandma Jenny and… No, no, I’m going back. 

0:12:34.8

WS: Yeah, that’s awesome, ’cause that’s often an issue to… Meetings can just last too long over body dreading the meeting, but a lot of this just like daily huddle, it doesn’t like energize people, and especially when everybody’s celebrating it, like you talked about, to the level of accountability that that adds… That’s incredible, ’cause hopefully tomorrow you can come back and say, I accomplished these rocks, right. I did it. Yeah, that should be one of your… Like if you said these three things tomorrow, your win should be part of that thing. And I said this to the team at our leadership meeting, it’s like, if you don’t have accountability, human nature, it just slides right.

0:13:09.9

RL: Like think about your children, right, your children, you say, Clean your room, but you don’t go inspect it, the rooms clean. It doesn’t really work well, and that’s because it’s not that your child is evil, it’s just that’s human nature, and you have to teach them and instill and put that accountability there, and make no mistake, even as adults, that accountability is gotta be there too, because that’s just the way it is. 

0:13:35.8

WS: That’s right. Well, let’s talk about that principle you were talking about a little bit, how the 20% to get to 100%, right. Talk through that a little bit, how that’s been… Helped you to accomplish things. Make things happen over many years of business now.

0:13:46.8

RL: Yeah, I think my degrees in finance and economics, and so one of the first things that we studied is in Econ 101, there’s the Pareto principle, Alfredo Pareto 1800 agrarian Italy, discovered this principle that really 20% of the farms produce 80% of the results that’s subsequently been gone on to be studied, and it’s across every industry, non-profit businesses, charities, churches, everywhere, and so I saw that and it’s like, Okay, I need to begin to dissect for myself, and this goes back into money management days, alright, 20% of my clients produce 80% of the revenue as a money manager and a stock broker, so I begin to hone in on who are those 20%, and then I began to prospect for those 20%, because again, I’m pastoring so I’ve gotta optimize my time, and I really begin to dial in and I began to see the results of it, and a lot of times, even if back then, even in the church, when we’re founding a church, God, that’s a full-time endeavor in and of itself, but it’s like, Okay, what are my 20% activities that really impact and connect with people, and certain things may fall by the wayside, but they are not in that supercritical 20%, they’re in the more 80%.

0:14:59.7

RL: And I think a lot of times the mistakes that people make is they get so consumed with doing the stuff that falls into the 80%, that they don’t have time for the 20%, and so they’re always on this kind of hamster rat wheel of just running with busyness, but not really producing. And again, I understand the push back immediately as well, but I’ve gotta do this paperwork and whatever it may be, it’s like… I get that there are certain things that though they fall in the 80%, still have to get done, I understand that I’m not immune to that. You can’t just throw it by the wayside, (that’s kind of like you jump in in there vacuuming, sometimes you do have to get in there), but you can figure out how to create a process or what you say, how to hire a VA and now offload those things as quickly as you can. 

Right, and that’s the truth of what needs to be able to be figured out too many times what people do is they make excuses to justify, their not willing to work out the difficult process of working out, ’cause even when you hired the VA, being honest to the listeners, that was a challenge at first year to figure out how do I engage this person? How do I get them to start to do this? How do I figure out that they’re actually doing it and see, you know what I mean? That took work, but then once you got it done, it freed up more time for you to focus on the more important thing.

0:16:20.8

WS: Yes, I was reminded of a quote I remembered since the eighth grade, and it says, If you take the time it takes, it takes the last time, and that was actually out of a horse training book, but it applies to everything. And so if you take the time to take it ’cause it does, it seems like it’s gonna take too much time right now, but man, if you just take the time right now, it’s gonna free up so much time later and really speak to me a little bit how you decided… What was part of the 20%? 

0:16:46.8

RL: We’ll focus on the large-scale multifamily. And we’ve done a ton of small properties as well, but in the large-scale multifamily, it was, one, identifying the main pathway to acquire properties. And again, if you look at most major SAS, and you’re talking about properties from 75 to 500 units, those properties are transacted through probably two, three, four brokerage firms in that MSA, there are lead firms to handle most of those transactions. Now, if you’re down in the 15 to 50 unit size, maybe not so much in those leading firms, but again, our focus was in those bigger properties, so we identified what market we wanted to be in, what was those relationships, and then also what is necessary to create a quality relationship, too.

0:17:35.3

RL: Many people, quite frankly, they call up, Hey, I’m doing great Joe. No buddy, I don’t know you from Adam. And they’re like, Hey, Mr. Broker send me your best thing because I am the King Pin buyer, and he’s like, Oh, what have you done? I’m just my first deal, and it’s like, Now you’ve gotta have a more thoughtful approach of how can you connect and create value with this person, and so that was one of the critical pieces for me to figure that out, and then the other piece was… No doubt about having the team to deliver on the debt component, and we had a pretty strong equity background, of course, is a money manager, and we did private equity through the life of our company, so we already had that kind of dialed in, but… So those three pieces, these are critical to my success in this arena, and quite frankly, many people that find themselves not gaining traction, I would challenge you to say How much have you really worked on those three… I was golfing with probably several elite brokers in a top MSA, and they became friends, and the discussion also was around those people…

0:18:46.5

RL: That was them talking as a friend, saying dingo, Johnny or Mary so that they don’t know from Adam calls up with these demands of how they’re gonna get me this and get me that… And it’s like, Why would they do that? They don’t know you from Adam and you haven’t done anything to demonstrate your value to them, and I know that sounds a little tough, but I’m just being honest, because your listeners need to be able to see, it’s like, am I really taking that approach and putting the effort and energy into it, and I just did that in a new MSA, right? Like here I am, I’m the Kingpin running the show, and no, I just crawled through the mind of vacuuming the floor or whatever, I’m doing the necessary work to gain entry into this new MSA and develop the relationships, and we closed the property there, and the end result was the guy was like, Dude, you guys and your team are amazing, I told all of our leadership team, you guys have been the best… You delivered on everything you said. 

0:19:56.5

WS: That’s awesome. I think you said too, you were willing to do the necessary work, oftentimes people are not unfortunately, but hey, if you are willing to get in there and do the necessary work. And you keep going, right? You don’t give up. You’ll make it. And so how did you stay disciplined and just how did you keep going and not give up when you’re outside of doing all that necessary work? 

0:20:07.5

RL: It’s funny, I had a friend of mine posted the thing, he’s in mobile home space, and he’d been going for eight months, would just shut down after shut down, hiring some team members and just getting punched in the face, but kept going, and now… I think he owns like 1600 mobile home units now. After that, and I think you have to have a vision as to why you’re doing it, like there’s gotta be a motivating purpose, and I’m not here to tell you what that should or shouldn’t be for some people. Maybe it’s a money thing for other people, it’s a family thing for other people, it’s a freedom thing for other people, it’s a purpose-driven thing. I would say this though, if it’s only a money thing, I don’t know that that gets you through the tough times, right, because there are… Sometimes your mind is at the, there’s an easier way to make money than just getting punched in the face with all this…

0:20:56.9

RL: No result. And so for me, it was about more of God’s mission and purpose for my life and the impact that it would have on people, and again, God changed my life back 97, and so that’s been a central driver for me, and I’m not saying that it has to be for the listener, but a motivating purpose because there’s gonna be valleys, there’s gonna be dry seasons, there’s gonna be obstacles that feel and look insurmountable, I mean… Good Lord, you go back to examples of Thomas Edison and the 10000 efforts on the light bulb, where you go to Walt Disney and the 300 plus rejections on a bank loan, I mean, any great accomplishment you can look at, there’s usually a pathway of pain or difficulty rejection, and it’s almost like it’s… Part of a test, it’s like, Do you want it bad enough? And then through that testing, you also become refined in your character, your skill set, and then your abilities to handle the blessing and the responsibilities. 

0:22:01.5

WS: So well said, it’s almost like we talk about this with the Lord often, but it’s like hammering foraging you into something, and that’s part of the entrepreneurial ship process, I feel like all those things, all those times you’re getting knocked down, you are learning so much and it’s all by getting back up and keep it on goats many things they’re Randy, could talk about, but you said it so well, I wanna jump to a few final questions and tell us about maybe a challenge you’ve had maybe in the last 12 months and how you overcame that 

0:22:29.5

RL: one of the things we’ve seen is now, again, our model, we work with third-party property managers, and a lot of folks do in their models work with that, and so again, I think working through the covid and all the stuff that we’ve gone through, but again, I think what we’ve seen is they’re at times less than ideal executions done on the third-party management level.

0:22:49.3

RL: That’s just true. And I’m not trying to dismerge, all third parties, there’s great third parties, but there’s also… When you have six people involved, and if you really analyze multi-family, there’s almost all ways six people involved, you’ve got the asset manager, regional manager, property manager, construction management, vendor tenor, whatever the case may be, and with that human chain, there’s a lot of times, sometimes break down, that exist. And then if you don’t catch that break down quickly, one week will cost you three in the multi-family space, three weeks will cost you two months. It’s a bigger ship. So it takes time to get it back on track. So what we focused on doing is focusing on the things we can control, I can’t control the regional manager of the property manager, meaning like, Okay, they’re committed to do this thing and reach out to this vendor, but I can control the accountability piece of following up and making sure our follow-up system ensures they that have done it or not done it, and so those are the things that we’ve reinforced to our team over this period of time, or again, like the launch, I can’t enforce an eviction when you can’t evict people.

0:23:59.7

RL: Right, but what I can do is enforce the accountability pieces on our part, where we can offer the people Cash for Keys at the time or give them, Hey, we’re gonna come after you for this delinquency if you don’t vacate, ’cause legitimately some people were in a troubled spot, but also other people were collecting the government built and then also choosing not to pay their rent and drive in a new car, we didn’t have lifespan of that, but… That’s also true. So I think that’s a key piece is that recognizing you can only control what you can control, and then you implement those things, and we’ve seen greater success or delinquency has gone down, accountability gone up, performance, gone up… Those are a number of the things that we’ve seen over the last 12 months.

0:24:52.5

WS: I think that’s great advice for almost any part of our business, right? You can only control what you can control. Those are the things you should be worried about or concerned about, so what about… How do you prepare for a downturn, maybe you’re purchasing a new project, what are some thoughts around being prepared for a potential downturn? 

0:25:11.6

RL: 100% is a great question, ’cause even right now, we’re in this upward run for sure.

I think the demographics are totally behind us in terms of other country and the jobs and the renter class that is being generated by those jobs, so I think we’ve got some significant wind at our backs, but at the same time, we also look at every purchase every deal through that lens, ’cause having been through 08 in the downturn there, and then of course, this most recent downturn with the pandemic, what we look at doing is kind of negative stress testing the property, it’s like, Okay, yeah. In our underwriting, we seek to stay conservative, we don’t have to get three and 4% rent growth to make the numbers work, we’re always kind of the settler and never the Pioneer, it’s like, Okay, if we’re seeing other guys getting 995 on rat, then we know if we renovate the property, we can get the same… We’re not banking on getting 1100 if nobody else has got 1100 in the market, so those are part of the elements that we look at there, and it also critically is who are the people that are the renters for that primary sub-market? And how will they be impacted in a downturn.

0:26:13.6

RL: An example, if there was a proper that we looked at, it was an end of a call stack right here, and then two other properties, it looked like a great deal on paper, but when we dove in deeper, the two properties here were run by two separate owners that were really sub-tier kind of scum-bag type landlords, were they anybody and everybody just… And it’s like, Okay, when a downturn happens, these properties are gonna get worse and it’s gonna turn away good people from this one, and it’s gonna affect performance, so as a result of that, we’re gonna pass on that deal, so on paper, it looks good. But we passed on it because I don’t wanna have that kind of problem when we’re working to a downturn

0:26:55.6

WS: That’s a great example too. I appreciate you bringing that out that, Hey, on paper, this may seem to make sense even in hard times, but there’s other factors that you were considering that said, You know what, when a downturn happens, Hey, this is gonna be difficult for this other outside factor.

0:27:13.1

RL: You just said something critical and it was just a gold nugget, it wasn’t. If it was when, when the downturn happens, ’cause it’s gonna happen, we just don’t know when and how well are you prepared for it, like an example of that was the pandemic. We had a war chest of liquidity, so when that hit in March and I flew back, I was out and taught him for a month with my family, we flew back earlier, David Ness closed in the world down out there. So we flew back, escape, got back to Florida, and our team, I said, Look, the role is falling off the cliffs, so they say, We don’t know what’s going on, but what I do know is we’ve prepared over the last two years with our liquidity or reserves, our preparation, we know a downturn was coming, we didn’t know it’s gonna be this thing, but what I want you to know is everybody here, your job is secure as it relates to finances, but now we’re gonna have to step up our game because this is really when the game is on, so all of our team members were able to go home with their spouse and with security, hey, everybody else is cutting people from their job, and so when it comes is so critical ’cause it’s gonna come and it’s only whether you’re prepared or not, if you’re skating on razor thin margin, like quite frankly, you’re gonna be screwed. You know what I mean? Sorry to say it in such a passive way, right?

0:28:25.2

WS: What’s your best source for meeting new investors right now?

0:28:31.2

RL: It’s really probably been the networking, we’ve got an 18-year track record of double-digit returns, no capital losses, so that often expands where people refer people to us, all like that, but just being around the people that I need to be around that are able and capable of investing with us, and even some of the younger folks like, oh man, I ran to your older dude, I’m still a young Prichard, but some guy that’s 25, it’s like, Well, look, Hey, get involved with the charity that you haven’t appealed to and serve in that charity and meet other quality people, or if you’re a golf or get involved at your country club to connect with other people, so you need to be in the right. Centers of influence. 

0:29:16.2

WS: What about the number one thing that’s contributed to your success? 

0:29:42.4

RL: The number one thing… Well, first and foremost, no doubt it’s the Lord I share on Facebook, it’s like that’s my secret agent right there. That’s the truth. He’s helped me in many, many ways, but then the second thing would then be the 80-20 principle, that’s like my secret power is over many, many years, focusing on the top 20% and then getting 1% better every day.

Like constant, never-ending improvement is one of our core values, and if you compound your improvement just 1% a day, get 1% better every single day, 10 years from now, it’s like it’s a game changer, and most people are playing the short game really and life is playing the long game, making the right decisions for the long-term, being willing to bypass some of these short-term investments or short-term pain, you gotta look past that.

0:30:09.4

WS: And how do you like to give back? 

0:30:10.4

RL: So we give back through our non-profit, and then that is in support of a number of different charities and churches, and then also through our apartment communities, we’re hiring a director of the empowerment or putting in a national program where we have certain programs, both financial, spiritual physical Enrichment at all of our communities across the country, and so that’s something that we view our mission in real estate, first and foremost, we’re gonna transform the lives of the folks that live in our communities, and then secondly, transformed the lives of those that invest with us to create financial legacy, and I would just make a point on this, I hear people talk about legacy like it’s money, I can darn or guarantee you, people aren’t gonna remember you for the money, it’s gonna be remembered for the impact that you make, and that also includes your kids, right? I know plenty of guys that are uber rich and successful on their second or third marriage, their kids don’t think that much of it, so it’s not about the money, money is important, but for us that’s the deal is like we’re using those two channels to make a difference in people’s lives, ’cause that’s really at the end of the day, why we’re doing what we’re doing.

0:31:18.9

WS: And that’s for sure, Randy, thank you for sharing that. And I appreciate your time today, just thinking through the strategic ability to do the 8020 correctly, focusing on that 20% and just a value behind that over many years and how that’s helped you to succeed in many ways, you’re pastoring your church and starting real estate, doesn’t is at the same time, no doubt, you can’t be focused on everything, and you had to get really good at that, but even going through your daily meetings and how you all do that, I think that could be very helpful for many of the listeners, including myself and our team. And so I wanna think through that even how that would work for us implementing something like that, but Randy, how can the listeners get in touch with you and learn more about you? 

0:31:56.4

RL: Yeah, so two things you can check us out on our website, which is pcpre.net. That’s pcpre.net. Check us out on the podcast, The Real Estate Preacher.

0:32:05.2 ANNOUNCER: Thank you for listening to The Real Estate Syndication Show, brought to you by Life Bridge Capital. Life Bridge 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, Life Bridge 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]