Running A Business From The Comfort of Your Lifestyle, 8/9

Del Walmsley
Wednesday, August 9th

When Del Walmsley began work in the real estate investing field 25 years ago, he actually had to show up to his properties now and again to oversee functionality, make management decisions and handle other pertinent matters relating to his multi family businesses. Now, all of that has changed. He measures the performance and ongoing operations of his real estate deals from the comfort of his own home, from a vacation destination across the globe or wherever he may be at the present time. All of this comes with leveraging new technologies available to the real estate investor. Here to discuss this tech topic with Del, is our National Multifamily Mentor, JB Durham.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Keep up with the latest breaking news in Austin and around the world take a moment to make sure you're following us on Twitter at top thirteen seventy elevenths waiting began. Just one more way to stay connected with top thirteen and indeed the right choice. Welcome to the hotel one sleep radio she don't. Belgium. Who questions everything. Colors you to return to. Here's a true. Next hour we'll change your life. Now you're okay. So he'll win for. Welcome Goodell Walsh we radio show where I Princeton help begins I'm your host cell while clearly is always working on your financial freedom. With me here today to try to bring some light to some of the topics we're gonna cover. He is our lead multifamily consultant and our DOW office mr. JB durum welcome JB. Thank you dealt its supposed to be here and that's great to meet ballpark and the veterans stated actually the. Spoken like a true real estate investor yeah. It is Conan for John boy today convoy of course is probably out having fun like CO exist. He seems to have a knack of propensity for finding things to go into places to this is so important so today what do Lagos immortalized when it. Bring up a topic javy today this could go probably have many different ways. But I was talking to Guatemala men here's the other day you're just scoot around. Spoke tour over the potency why don't you ever c'mon seriously anymore you know he's come see us. That I go there's no reason for me to come see you guys and more are being runs perfectly. And besides that because the technology I actually know everything you're doing I can see. Everything that goes on what leases one applicant you. Would you work orders are. How far behind your new work orders if you weren't girls to date I mean my software program covers everything. This is is really no reason for me to come out there I just getting your way you know I can't at least I don't do anything. After that and I'm talking use less time you're talking to a customer. And she laughs from the easier for phone down everything I thought about it. A wild things are KJV 25 years ago when I started the business. I did everything that I had to go out there and do all this dolphin you count all this money and and watch all these things being done make sure wasn't getting stolen from accounting wise. It's Cedric Cedric Cedric and nowadays it's like it's a completely different world now what I would ask you resist. I couldn't read your take all the changes occurred in the last 45 years. From starting from the bottom working my way up to a more logical and intelligent approach. But I'll believing that you started in the business. And did you went back and bought yourself you know some small apartment complexes but you started with the big boys so how did you shake up for you all this. This change in the technology in this changing the industry over the last 25 years. Well it should certainly has impacted our efficiency or effectiveness our bottom line and our ability to. Manage portfolios of larger sizes. You know first support is soft war. This is begin to simplify things on me and I can say W and I sort of back before the wars in the next they blowfish was the first program that was. People were jumping up and down over that now we had a very sophisticated platform. Most of our software will probably 90% of the knowledge Internet based it's not up on your PC you don't need the software on your hard drive. He gives you that ability to access the data 24 hours days. You know JB. They take you way back I remember when we had cards and we had a card file system for track go to Q did you yeah. That's yes that was the ledger Colbert is a we had and those didn't read rolled you remember the white out they get balance. Oh my gosh I remember how big you had to put it on the card if you had to include other triple black copied receipt book. So you had one copy went to the caterpillars the board copy what they do that we did a bank with a deposit and one copy stayed there. For the office report. Better me like you're you're doing everything in like four hours ago and it is not even duplicate that didn't levels of four had to redo everything you had to add all this stuff up by hand count all this money. Oh my gosh erected upon religious and say you know and it's so different now. Well it goes back to what you always thought about that new age of instant gratification it really is change the way we do business the way we communicate. It's certainly what our expectations are. And that certainly is change the business as a whole when I was first in the business you know to get older properties strictly was to a land line. And of course we began to have agers. And of course hopefuls were very expensive. And eventually in today's world. Every person on all of the seemed. Large property typically. Operation ostrich Marco. They keep sending constant so actual model that Cheney. But the software. To different activities that are going on this service request response to the service request. We're actually using that for online marketing now on we are. Our leasing agency now or capturing their own traffic. And they're gonna obviously everybody has FaceBook. Analysis of it being a way to communicate Britain's first all it's really becoming a business medium. Letting people vote which brought this. Yeah I close my mother I Gibson in my mind he's just filled with things. A different technologies that I've seen in the last just block it five years old but the one we got me the other day. The last some lower tea expo they really haven't of software now for yourself home that they use these Internet patients in the cloud. Dad you're you're companies would buy into it everybody would have it ought to have an app on their cell phone that works for that apartment and of course. Mean corporate office would have access to what happens is when a guy goes out to look at a repair. JP he takes a picture of him and that goes on file. And any EE makes notes right here on that on the the picture and all that goes into work according to produce is a work order. Real time do while he's sitting there looking to the problem is is producing a work order for him to complete. And he's got to recorder then and it's put in line with what other work quarters. Need to be done by a priority and would the work is done they take pictures will work improvements been done. And date and time stamp at its send it back I mean that's just unbelievable stuff remember the old days you know you got to under work orders today and to dust you tried to prioritize them you send a guy out would tell them he comes back and was sick some crumpled up and dirty with oil and grease autumn. It says scribbled a lot of this is done but you don't really know is completely done her. Got one they're go and I need a partner this couple a huge part in the managers got all this greasy paper regular oh my gosh you remember all that stuff this is. All I certainly do and it really has made that service request in my whole service pretty much more efficient rather than have them to go back to the office to get the next. Circus requesting it on the big board. You know they're able to get a prompt yet to actually be able all launch software that hey you got a new request here's what I like about that then the technician can reach the customer. It's recognized yeah I got jury question. So that response time to somebody needing something is so important what we're really pushing customer service worker we're trying to renew everybody every time we actually. And so that efficiency route and make you stronger booked it's strange fares they know where you war they know what you're doing the level of communication or instant. The people get frustrated when they actually you don't touch right back. They can get frustrated globally. But also what really happened is workflow in the office you know before everything was done particularly if you service request Pena and to pay your your your writ in person bookkeeper would be here to take this transaction. That close that transaction into the system. Hold true that it's better now probably 95%. Of our customers. Do the data entry themselves. Shall there at the wall is going on one they're really not coming into the office is renter paying online. Lou. It barter or college transfer or debit card or or getting that transaction done actually in primetime schedule. We're also doing decently you're talking about certain questions they have a leaky faucet. They're actually going into the system and loading in their own service request as they created. And they they're the all her other big attraction picture of truth to be more restrictive and they can follow that through the system so what's happened. Is we don't need that function in the back office anymore. Some of the more progressive management companies that are really promoting and pushing. Customers to do the data entry. They've taken that assistant manager and they have lowered there they will also eliminate that position based transition that into more of customer service role. Now I've got somebody an extra I can follow law or service request I can follow all the many little things and touch she could do to make an extraordinary difference. That we typically don't have confidence. So it's really changed the workflow. And the paltry little at all established trust to perform particularly with the younger highly mobile they've got great all wish. He'll thank good she could do a lot of Smart well. You look at how deeply. Tribute let's hold that thought because we've got to just about the reception gonna go into a break. One picked up back up on the other side of the break for those you'd like you didn't talk to JG or asking questions. Our number here is 8776556755. Will be right back to be dealt want to radio show. Listening to the Joseph wants. Principles and Justin. Lifestyle some limited is the real estate investor education and mentoring group that is taking people by the hand and taught them how to invest in real estate for over 24 years our students have been so successful at creating well the past having found that they've won local state and national investor the year awards nine of the last nine years it's easy to see my personal real estate investor magazine named as the best in the US if you're ready to add real estate your portfolio go to lifestyles unlimited Austin dot com to access our free live training events scheduled. Wondering who the free workshop this fourth we did amazingly successful with people who are pressed for time. Doctors lawyers small business owners and corporate professionals. Who are grinding their lives away for earned income and don't realize they can start creating passive income today. Within that confines of their schedules and commitments. Want to get started now go to my passive income workshop dot com. That's my passive income workshop dot com. Texas weather can change on a dime more. Monitoring. Here normally. When the weather turns severe. Turned to us for what you need to know on air and online at top thirteen sending dot com top thirteen seventy the right choice. This. But I don't want to radio show our numbers 67765. By. 6755. Were here today. Helping out answering questions reminiscing back in the old days is the lead multifamily consultant. In the Dallas and Fort Worth office mr. JB Durham. I've treated people we had to go to break we were talking about conveniences of great things and made this business a lot easier I know that one of the areas. That was a major concern back in the beginning when I first started not from me because I'm. Basically it started as an account to sort mall all about. Redundancy of systematic protections of cash flow and so forth. But the average person who's ever run a business never owned. Rental house or apartment or whatever. They would they would have problems with their cash and losing cash. Or being stolen from the manager of stealing their money. Those types of things just don't happen very often more than just. So much control now that there wasn't. And I would tell you one of the first ones to me that really made me feel a lot better was when they came up with scanners so that we don't even take the money in the bank anymore. Someone pays we scanner right there on the spot. It goes right into the software. And everybody knows where the monies that we don't take cash anymore so rude protected. Take us through all the cash protections that are out there nowadays so that the average. Owner investor doesn't have to worry. Well first of all there's all kinds of checks and balances and can you not only have software cycle. You've got somebody like that regional managers somebody in the whole ball this is gone hovering in watching those daily transactions. Yeah everything is still we really just don't deal in cash anymore. And then on top of that what is just not actually sure it's a paper check. A little problem that you've got maybe 9095%. Of hope of some description property with the right software but they're not even coming into the office to pray. This all being done on line electronically. Solution really nobody's. Actual hands or fingerprints. They're able to get a hold of that money. That you're. I made it for Purdue and he used to be debt. The managers would have the ability to charge a late fees and not turn the man. But nowadays the software programs they calculate toll charges and if they're not collected and supervision would come down on management and say. We're just money yet what's going on here type of thing plus. That Teddy is gonna get a re occurring bill they're just gonna keep getting billed for this seemed and they're gonna go but I don't know veteran duo that are. You know what ever pay debts and a manager that Thurgood report that they paid out to the manager. The only way anybody could ever see everything in the past. If it was done correctly was it that Tenet and the man who were in cahoots they were like friends. If you let the manager moved her sister and or something like that they can get away with stuff. But nowadays the software ruling handles those kinds of situations. Tour and it's pretty difficult to do now let me see if you've got to see it because this is one thing. I could think up off the top boy that I can't think of the safety for and that is. A manager claiming vacancy. But really having people living in the unit and collect an from. Yes and an imminent marketed like Turkey where we have a higher occupancy is certainly easier to inspect which you expect. This horse walking those vacant units. Also lesser roles all of blow of the multi site they editor of the regional manager is to be involved with that they can inventory turnover. Actually not only have an occupancy report. A big consumer report we also have all that they can report how many days it has been vacant. And what what his status is in the make pretty products process that is back on the show available for rent. So to get all what you would all the maintenance guys that they Grady everybody on shoes that issue that is all line what it's really not. So truly are really it's the whole business has gotten easier because of all this transparency and access. We can all about somebody being charged collecting money from somebody enough putting it in the system will don't forget. The customer now has supported portion of an access to their account. And they can go and receive their whole history of copy of your least. Copy there's security deposit agreement a cup is all their payments from day one on the copy all the charges that he won a copy of all their service reports from day one. So our our customers are very Smart and and they're looking for that access and they're going online to check your elbow for the maker arraignment and whatnot. There's so many checks and balances is so what transparency. Where everybody's watching it. It's almost bought what I can't imagine being successful just days checks and balances actually I am. So. Let's simplified down to the worst case scenario then for some problems I don't some properties. And so much properties I don't have a management company running room I've. I am my own management company. Although I do other supervisor which takes the place of management company bullets aid the largest wanted to be a 100% sure. That nothing was going well I just take. The reports that I get and it's gonna show me. X number of units didn't collect any money. They're vacant third down there in process of being put back online wherever they are it's gonna tell me where they should be. And so. You know and a hundred unit apartment complex rules they were running 95% I tried I might have to go out there and look at five units. They're like laughter look at five units and was there I'd also want to look at OK so we've got some people that are not paying their rent. Who got some non payments I'd wanna go check those units to estimation they really. Didn't say there really are being addicted and so forth so maybe there's been one day a month out there he thought about right for our owner operator. That's. Really about rod and here's the beauty of all the data that's in the software rather than going out there and wandering around. You go out there to inspect something specific because you've done your homework before you leave the office and that's all we don't you where to go. They want to look for good what are you thinking going on. She is very specific when you have this type of data at your fingertips. Then when you go to the field boots on the ground you're going right to a specific spots. Yeah. Yeah I can see that that's. I did I say I can see that could ever done this whole bunch baby because I have a supervisor. I'm a supervisor runs through my properties you have management company once for my property so I really don't have to do any of that stuff. Which I guess is the ultimate end goal but it's the guys started up with salute his first time owner he's got a little property won't run themselves there's nothing wrong with the port I would get a crosses. It's a minimal amount of time in fact my supervisor. Which got to be my girlfriend by the way runs three properties and she puts less than four hours a month into those three properties I'm sure. Told fumble that he except that she may have one day a month that she goes out. They spent the whole day there you don't mean going to see all three the properties are all pretty close to each other. But other than that the workload is very little and I think one of the biggest things she'd be it makes the largest difference for me. Is still lack of duplication of data and that was all brought about when they first came out. With integrated software systems where before you know like you were taught what we had excel. And we keep track of all of our tenants and excel in their payments to whatever. And that was kind of a management collections type. A deal than we have peach tree or what are the other. Common. Easy to use accounting software screwed keep. The accounting information. You know if you had accounts payable system yet accounts receivables system he didn't use. Because of these you just to keep track committing an excel. And now all this doesn't degrade you put it one thing in every comes out. We'll be right back with you don't want to radio show. Listening to the Joseph want. Principles of justice. Long time lifestyles member Curtis Haines. A real joy for me looking back. Is helping others and I wouldn't be able to have done it without the support of lifestyle ladies can't please thank you enough feel for that. If he were to ask people if they could vote on the top ten guys. That help other people you'd be one of the viewers no doubt about it. You have this roadmap of holy success stories on this one I'm just. One person out of the thousands fantastic success stories that each and every person can learn from that's my advice. Take Curtis Haines advice come meet felt like minded successful investors who are helping others just like Dell helped him. Attend the workshop get you or map. Safely and quickly build wealth and passive income so you never have to worry about working till you drop. Losing your job or retiring in poverty. Call 1866971. 970 or go to lifestyles unlimited Austin dot com that's lifestyles and limited Austin dot com to register for the workshop it will change your life. If every talk radio program for the same. What would be the point the Michael very shows a little bit different. We're gonna talk about politics we'll also talk about how great it is to live in Texas weekdays from five to seven on talk thirteen seven Michael variation. Quarterback you don't want to reduce your number's 8776556755. Wood today. His sister Jamie Durham which is the lead multifamily consultant in our Dallas Fort Worth office today were discussing. Different. Technologies that have been proved. The business process of the apartment industry. And how he's become easier. For you it's an individual mom and pop investors to be able to operate properties. Like apartment complexes which in the beginning of time you've probably would have to invest more weight wartime ended the past. To accomplish as much as you could accomplish with very little time. In this current environment. So JB of this dream is integrated software situation usually be one of the biggest keys that I see it's all tied together. All feel like you just pulled up sucking really pulled out of your pocket there and a hey if you really believe she done this year that you got to get to me these guys involved now everybody has something to say about everything's going on that Tenet says something to say everybody is input. Transparencies. Unbelievable. It was take this the next level and that the accounting level now. You remember who were used to have to count toll roads and build that out separately. Unbelievable. I mean much taller as a form of yeah I am. You know it's for people who don't know roses roses ratio utility billing. Where do you think about it Tenet Richard read how truly they pay the water the gas and electric or sometimes landlords and or properties they don't have those things individually metered. And it's not right for a landlord to pay bills for these people that's the Tenet's responsibility. So what they came up with who's taking the utilities then we go back you know we can all my properties held individually metered electric but we go back deaths. Water. Trash. And in pass into political extermination. We've all that back. Because if you were editor read how she paper early termination pick your own trash trade group garbage collection. You pay for your water and and gas so we chart all that back lieutenant now in the past we had to go through these could get all this information goes through these elaborate. Calculations and get out a separate bill from the built for the rest nowadays a software puts all that stuff for instance it's paying all the bills. It draws all that information out in the accounts payable. She dumps it into the the ropes portion of the software. It calculates how much you charge you send and then actually goes out on the very same bill as their monthly rent charge goes out of my Kenny and I kid you estimate how many. How worse. Office workers to see doing. The other one that I thought his interest rate. In that same line JB is auto leasing and auto screening. The concept. That a candidate can call up at night time. Look on the screen you see what units you have available what they read for fill out an application. They go to the screening company in the middle of night and you walked back in there the next morning or. After the weekend walked back in their Monday morning if you've got to you've got to qualify attended. Like there. Community adjustment is mind boggling. The utility issues and it's one of the great reason to be an investor strictly in the state taxes are legislature are lobbying group excerpt art association. We're able to put this legislation called the resident utility billing system that's what brought stance or. And it's not very simplistic it's based upon the number of units. Club square footage of each unit and then the number of residents occupying each and so all those factors to go to some type spreadsheet here. So piece of paper was crayons and wide outs you can figure it out but now all that's automated so you don't lose a pretty. The other thing that you picked up earlier on there's also late fees fees. Security called the move to the day you moved in in the pro ratios are all right now all that's automatic. And there's no way anybody can should not charge somebody and I had to go to either count. All that makes sure no one achieves here there's so much control. In the systems but it really give you the ability to do the other things that you wanna do. And then what you wish you sort talking about the capability of was it new customer. Hit it a little look nice to camera whenever they hear an inspector apartment. Virtually on line. Most of the platforms either your own web site or the ones like apartment guide for rent. All of those now have virtual video where you can do 3-D look at the actual apartments they can actually. Pick out there more plans they can actually pick out the big unit or the unit on notice that like you are. As you mentioned that it can apply Burke. To get their background checks. And greater security policy on line virtually. They can actually pay their first launched red on line virtually word used to be in our business first thing you did. We just goes to the property to check it out and see if it was a bit what you are looking for. Now the actual physical presence is the last thing you do. Because you're able to do so much virtually all line. Natural pace and it goes back against Silva. Instant gratification. And our customers they wanna know about apartment or when they start thinking about movies. They don't walk away that we think about it immediately Google that. Go online and see what. Yeah god I don't know if you use it. It's your property you're not I think most people do. This we also to deal with utility companies we have a couple different utility companies that bull. Allow us to go right online and put people's utilities up for children have to go anywhere anymore where they'll allow us to take a deposit right on line. And you just look at it sits down signs beliefs physical lease. And five minutes you know you've got them all hooked up with all the utilities and their phone in there. Cable and everything else that's. Rule time saving. There is so I want to bring up all we got another one here's another thing. That gets me if you remember we had used to fill out a lease can make copies of it for everybody. All less automated now it is. One of the biggest benefit so it's a big a small but then investors being a member of the Texas bar association. Is you know the strength of the CAA itself an eighth page document I believe Alan is certainly. All pro landlord in most cases are usually ability to do. Landlord leagues and and lockouts. Could communicate with the rest of this not paying. But they also have the supplemental software called blue moon software that enables at least to be digital. And everything that goes really what happens is when that residents first goes online at 2 AM and fills out. Their inquiry or maybe their gas cars that there is pushed it in potentially a two bedroom all the data. Is that as more as they go through each part of the system. When they get ready to do beliefs. Although it it is interest rates and at least document and a digital format it's regarding got their name address Social Security number driver's license everything that they populated negro night that's harder on that application. Corporate security deposit agreement and so really flawless. It's very efficient. And I digital copy want to show executed they'll get one via email visually will be attached to their files on line. Actually go online to look at your account of they need a copy of solutions that are for the but you're right we've come so far and the good that is just made our business so much more efficient effective. It has an investor certainly has contributed to getting personal lifestyle or what. For. You know interest in me enough to be you talk about that blue moon stuff and there's software and at least. You know that one of the things I've found very interesting when I got hooked up deep into the AJ in T eight in an AA national park association. We'll you don't know what I can you talk about. Is that I found out that AT FAA released was the least that was adopted by every other area in the country by national parks association. And that the band aid national Boggs was actually pays a royalty. To PAA for every at least that's purchased all there in the country and blue moon was part of the same process. They're the first to have it and now it's national. And you know again there's royalties being paid 58 days for that and have been for some. 1520 years were you aware that. All I've heard about it I could use that stated scratches and our legislature. And our landlord and the walls are the envy of almost every other states. It certainly is beneficial to hold apparently operators. And investors and holders as well and it has been the problem and I think that's. Well a big strength of our local bar associations of city level which is how you gonna. You go to true local level when you appeal to building in Houston or Dallas will you join the local level and then that's weird dues or paid based on the number of units you have. About membership that you could make you automatically a member CIA and that of course automatically a member of the national association I don't know. All the published later another industry that has such a tremendous benefit that tax apartment association provides freshman quality education. Well particularly at least. And every document they have this book called the Red Bulls which is basically a Bible. But we'll take you to be getting them from cradle to grave for every situation you might need every. Formal could be well let's pick up there would come back from the break on the red book because that is a good on document they do you know. For the rest you take short break we're right back with a Dell wants a radio show us. Listening to their Joseph want. Principles are just different. Did you know that every dollar you put into a piece of real estate makes you money five ways. Cash flow of money in your pocket each month. Equity capture the thousands of dollars you create when you have the right team and by the right property using the right map. Appreciation. Real estate doubles in value about every ten years equity buildup. Printers pay down your mortgage each month and finally the tax advantage we pay almost no taxes on our cash flow and capital gains. These are the five ways we make money in realistic which is why real estate accounts for more millionaires in the world today than any other investment vehicle. You should have some real estate in your portfolio. To learn how attend one of our free workshops call 18669718970. Or go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 86697189. Sympathy for them to lifestyles unlimited Austin dot com. Get the latest business news from CNBC. Weekday mornings at 630 in May thirtieth weekday afternoons at 12343530. We make you smarter. Hopefully it'll all it'll make you some money yeah. Stay connected with top thirteen 78 the right choice. What would happen if you didn't show up for work tomorrow. For the next couple of days for a week a couple of months a heat how long until you lose everything you've worked for in a fraction of the time it took different. If this fear keep you up at night it's time to learn the strategies we teach at lifestyles unlimited start with a free workshop. Go to might passive income workshop dot com and find your true financial peaks like so many of our members already had. That's my passive income workshop dot com. Thirteen seventy. Talk about the last regular del Walters radio show our number here are 6776556. I'm fine with me today sure microphone. Mister Gaby during the lead multifamily console in the DOW office and JB what we went to break up of something else I want to cover instead of the red book just came to me. And that is. When I first started it seemed like you. There was nowhere to get employees for this industry. Seemed like everybody was. Old blue. People that'd been around for eighty years and kind of to shovel looking women. Working as managers to make these guys are always like guys who couldn't keep the job anywhere else and you know just. Didn't have what it took to really hold got a job correctly. It Cedras that drop all through whatever but that's not the case anymore now days. There's almost like it will now almost like thirty years. An entire show wonder of people out there that this is their career and they study for it they they get educated on it they have degrees in it. They have certifications in it and those people are easily accessible than they've gone so far now it'd be just even. Start teaching these things and schools and colleges. And you know these types of colleges up their taxes are being funded. And making this like a scholarship global type of degree. Tell us what you know about all edgy because I know you're highly into the educational aspect of this tells about employees now days. Well it has really changed Novak in the big bill would you and I first started you mulch. Property pickers work failed realtors we could sell the house is to get their gold Coke. So they were dispatched to the property management division and has been that was always. The little you know the red headed step child of the agency was was good property management position. We've typically had buildings that we don't feel a hundred units was really pretty big. They're really one of the catalyst for change that was good tax reform act back in 1986 yeah that you went from losing money actually being a cash based business. And that really changed everybody's mode of operation. And you really have to be able to run a business you could just be an order takers became cash flow centric there was no benefit. To lose money the way they were writing off those losses. So became professional almost overnight back in the mid eighties when they change. Those rules and and the legislature on a national level. And so but what happens is we sort of taken up state. And we saw all that this really is a great business to be in. In the people's sorted recognizing the use of leverage as compared to some other. Well potential best vehicles which sort of recognizing the usual depreciation and potential. Tax free income they recognize that the holy Grail or wealthy person's balance sheet as well as an asset appreciation cash flows. Almost suddenly became a strong investment. Vehicle for all kinds of people that wanted to be and all the multifamily business. Well we're still today we're proving we're largely in an educated business. A lot of our operators and this is basically com search business you certainly don't lead upper level degree or an MBA. Apartments. But it certainly helps you understand the financial concert. Children increased professionalism. Distort to create a career path. But actual bar association's sort of recognizing. A need for designations. That people could not only begin a career path. And nerd expertise but being recognized with the designation. Special they became. Short and educational platform. If people sort of vague notion that those that work peak performers typically had those designations that proved. And Syrian and education what we needed to do than they were born on the field. And actually doing. That we. All of a monetary shorts store arms are short story just for the people out there I owned a property. They. 64 unit there had a manager that was released. Not very good I had none of that the accomplishments of the skills that you're talking about. And I was running and anybody 5% right in 1995%. Did she start political doubtless like it down to 85% and my economic I actually got down to like about eighty. And luckily he go and I brought in another girl that this girl actually was a property manager promote it from the industry you know I got her from the industry from the apartment association yes. Well she went in there and he's. I don't know what she did this is within my thought ma ma my first putter in her go. How do you view on monthly number one with 85%. Physical occupancy. Collect a 110%. Of gross potential. Couple those out there who don't know growth potential is that's the maximum you could collectively every single unit. Was rented that market wrecked in other words it is nobody was below rent market which there were people that were below what Margaret was. And there was no vacancy and there was they could see there was 15% vacancy. And that she collected 110%. Of gross potential it just blew my mind that I went over us of what is that correct. Are you doing how did you do that you know I thought she was doing something illegal so I had no idea and you know she said since August Rebecca collected all the way these people haven't paid in the last six months. Something that simple. And from that point on I was you know like 99%. Occupied forever with this lady until she. What on to a larger company and bigger and bigger property but. That's an education these people have it's just massively different and what it does for us JB for guys like us this moment hoppers that makes it easy on us. You hire that person. If you can hire that person you're gonna make and that's one of the things that we do lifestyles guys. They see guys like JB and JB has two or three people to work with him we got through your people each office. That a customer service. Consultants they literally will help you. In hiring firing and training your staff. And then of course the apartment associations like you were your sort of poetry. The apartment associations. Themselves. Are the training grounds for employees. Lifestyles is the training ground for people who want only real estate that buyers. The people who want to beat beneficiaries of the profits. We do some training for you on how to operate manage these systems but the actual employee training classes. Are held in the apartment association that's why your lifestyles where they're BJ be your job. These guys are intimately connected the pardon associations would be to their cities and so are we in every city they were in Austin San Antonio also and actually. I'm deep John's deep in the national we've been in for the last John ten years me last five years six years. We're deep in the national and JB is deep in the Texas and the locals and also in other states because he's worked many other states of folks. You're going to get. Into this industry with the highest level of education and the highest level of mentoring possible JB. Appreciate you being on the show today bringing all your insight years' experience with us and look forward to you being on again and sometime in the future. For the rescued her remember we're not doing this for the money. We're doing it for a lifestyle have a wonderful day I'll see tomorrow. You can obtain the risk. Every Monday. Click on the radio today to listen to the lifestyles are limited real estate investor radio show. 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