Episode_023: Are You Unstoppable?

In This Episode of the Multi-Family Deal Lab Podcast David interviews Vanessa Alfarro where they discuss her journey from South America to living in the United States looking for a new kind of business. How she finds investors for her deals, overcoming personal challenges and how she balances her job as a mom with growing her multi-family business.

It hasn’t been that easy, but I just do it. And I just want to encourage people that everybody that is in every mentor that have kids used to work hard. Just the fact that you have 5 million kids, it doesn’t mean that you don’t have to create a business for yourself, but this has been really a ride for them.

Speaker 3: But you know, what you’re describing is a challenge and everybody has some sort of a challenge. Yours were your children. Some people were working two and three jobs. Some people just have past histories that were difficult. And the whole idea behind mindset is overcoming those challenges and just deciding that you’re going to do it. And when you make that decision that you’re going to do it, nothing’s going to stop you. You become unstoppable.

Speaker 1: Welcome to the multi-family deal lab podcast, where we dissect a deal before your eyes and ears. So you can discover the strategies and tactics that got each deal to the finish line strategies and tactics that you can put in your own toolbox to get you to the closing table from sourcing the deal, raising due diligence to the property takeover, multifamily deal lab shows how you too can get the deal done. And now here’s your host. David Lindahl, everybody welcome to multi-family deal lab. I’m your host, Dave Lindahl.

Speaker 3: These podcasts we are with Vanessa Alfaro and Vanessa. We’re going to talk about 104 unit deal that she did in Texas called South side village. It was a $4.1 million deal. She raised 1.552 in order to do the deal. And it has numerous value adds and unit upgrades, which are going to be very interesting to talk about as well. So you want to hear about that deal, how she got to done that. You also want to stick around for a lightning round because you know how much fun that is. And before I bring Vanessa introduced her onto the platform, I want to do a little bit of mindset stuff like I like to do each week. And in this particular case, this is a little bit of tough love, but I recently got involved with clubhouse, Instagram and Tik TOK, and I got on Tik TOK.

Speaker 3: And at first I didn’t get on Tik TOK because I thought it was just a bunch of people doing crazy dances. And then I realized after I get on there and it got my algorithm down, that they sent me a lot of exercise, tic docs, a lot of nutrition, tick docs, and a lot of mindset tick talks. And I really, really like it. I actually watch it to wind down at the end of the day. So this one came on and after this one came on, I actually sent it to my family members and some close friends. And like I said, this one’s a tough love, but it goes like this. And this was by the way, was by Sydney Buehler, B U E H L E R. If you wanted to follow her, it’s very simple to get what you want, but it’s not easy.

Speaker 3: It’s your job to do the crap that you don’t want to do. So you can be everything that you supposed to be and can be. And you’re so damn busy waiting to feel like it. And you’re never, ever going to feel like it ever. And no one’s coming. No one, no one’s coming to push you. No, one’s coming to tell you to turn off the no, one’s coming to tell you to get outdoors and exercise. No, one’s going to tell you to put in that offer, that you just analyzed. It’s up to you only. You wake up with that every day. The other thing that I like to listen to when I’m waking up and feeling crappy in the morning, which I usually wake up and feel great because before I even opened up my eyes, I first tell myself when I’m conscious is going to be a great day before any negative thoughts can come in. I tell myself, this is going to be a great day. This is going to be a great day. And then if for some reason I’m just not feeling it. Like I don’t want to get out of bed. Then I go into my phone and I pull up a video from YouTube called Dear Hard Work. And, if you’ve never watched that video, I suggest that you pull it up on YouTube and watch it do your hard work is very motivational. I love it. so there you go. There’s a bit of mindset, today,

Watch The Video “Dear Hard Work” David References in this episode:

Speaker 4: Alrighty,

Speaker 3: Got to DaveToday com. I have get a free book offer for you. And it is my iconic multifamily millions book. I wrote this as a Sequel to emerging real estate markets, but this has been the start of many, many of our students, multifamily millions. So many people were inspired by this particular book and continue to be inspired by because it’s foundational information that gives you the awareness, the foresight, to know that you can become a multimillionaire and the step-by-step on how to go do it. Now, this book retails on Amazon for $23, you can have it for free. As I asked you to pay shipping and handling of $7 and 95 cents. And you can also get some free bonuses when you do, and also autograph it for you. Those bonuses are number one, the 27 ways to buy multifamily properties with no money down. It’s actually 104 ways in here.

Speaker 3: And then I mentioned, I wrote the book emerging real estate markets. I also have a poster for you, and that is the emerging real estate markets poster. It gives you the four stages of the emerging markets. It gives you each particular phase, the key characteristics of those phase and down below it tells you what your key strategies should be for that particular phase. So you can just simply put this on your wall. And with that, you can determine what your market is, where it is in a particular phase. Or if you’re looking for emerging markets, which markets around the night United States are actually emerging. And then from there, you can make the most amount of money in the least amount of time with the least amount of risk. And as you know, investing in multifamily properties and becoming wealthy that wealth is created through appreciation. So that’s why we are giving you the emerging market cycles as well. So multi-family millions, all the bonuses just pay shipping and handling and you get it now. So Vanessa tell everybody who you are and

Speaker 3: You hand it to your management company. They go out and do what it says. and then in doing that, you keep your property leased up and you keep that cashflow coming in. Another bonus I have is the deal flow playbook. This is a playbook of checklist for all the different things that you’re going to be doing. And your multifamily deals step-by-step you will. I learned a long time ago that if you do not follow a checklist and check things off, if you miss things, and those are the things that have cost you money for. So everything that you do in sourcing deals, underwriting deals, raising funds for your deals, taking over the properties on your deals, to the nitty gritty of the lease, audit on your deals, to preparing for the exit of your deals. Everything has a checklist. You get all of those checklists as a bonus, that’s free.

Speaker 2: How are you? I’m so happy to be here and talking to you and everybody I’m going to tell you a little bit about me. Okay. I was born and raised a quarter background. You like it

Speaker 3: Yeah. I was reading your bio it’s it’s excellent. It’s inspirational

Speaker 2: Entrepreneur.

Speaker 3: I can’t see that. What does it say I see the word entrepreneurial, but that’s all I can see.

Speaker 2: Entrepreneur. Someone who jumps off a cliff and builds a plane on the way down. Yeah. Yeah.

Speaker 3: That’s actually, that’s actually what they told us at Harvard business school as well. That’s the definition of an entrepreneur.

Speaker 2: It’s really cool. I like it. And I have the picture of my kids here. Well, four of the five

Speaker 3: Before you do your bio, I just wanted to mention something. We share something in common. We both have a set of twins. You’ve got five kids. I had my twins. First. You had your twins last and they’re young. Right How old are your twins

Speaker 2: They just turned six months yesterday. Boy,

Speaker 3: I remember those mine afford a half. I remember those days.

Speaker 2: Yeah. Yeah. There they are just so much fun. And I have, well let me tell you, I’m gonna leave that for them. I was born and raised in, in Latin America, actually in Venezuela, which is so some America, South America, and I’ve been a business owner and entrepreneur for all my life. I opened my first company when it was 22. And by the time I was 25, that company came from one employee, which was me to more than 3000 people and 17 locations in South America and then moved to central America with my daughter. We opened the company there in Panama. So it was about 15 years, a lot of fun. Okay. I really like it. And then, I moved here to the us when I married my husband that is from Chicago. And we opened another company about production and publishing that is just related about cars.

Speaker 2: So my husband needs a car plan. So everybody in this house is a car fan. We talk about cars all the time. My son, which is now seven, his first Wars was Lamborghini and Ferrari and Porsche. This is how much we talk about cars here. and then I, I like to talk about this a little bit, because I think it’s inspirational for other people, but I was in a point in my life that, I mean, I had a lot of success. Okay. I’ve been for all my life. I work with a lot of people that are, that I didn’t want to do that anymore. I want to do something different. I want to spend more time with my family. I want to do something different and I didn’t know why, what to do. Okay. I had single family homes in, in central America and my husband was always saying, we should go into multi-family.

Speaker 2: We should go into multi-family. I was like, listen, I’ve been doing business for all my life. This needs to be something that we have to study. It’s not just like, just buying multi-family. I just do it like that. And I didn’t know what to do. But then one friend told me, Hey, I just got invited to this thing called art. You mentor let’s go and, and see, what is this about And I w I went there and I was like, Oh my God, this is what I really want to do. It was like, I didn’t know that I wanted to do that. And then I was listening. One of the, the person that was at that event and was like, I want to talk to this day, because this really sounds like something that I want to do for the rest of my life. And, that’s how it started with how long ago was that Four years ago. Maybe

Speaker 3: Four years ago. So the deal we’re going to talk about today is not your first deal. What, what number do you think that was Second deal. Okay. So before we get into this particular deal, talk about the fear that you had to overcome to get into your first deal.

Speaker 2: I think that, it was a little different for me because I’m that person that I told you by me to, to this, our iMentor, key was my partner at that time. Okay. And we started this business together and then she was really scared about doing this. I was like, we should go for a 100 units. We should go for a 100 unit. And she was really, really, really scared at that point, that six months later she decided she was not going to do it anymore. Okay. Because she didn’t feel, certain. So, I, I was by myself and I still by myself working with different partners, but, but she’s not in the business anymore. And I think it was different for me because I’ve been used to jump off the cliff and just feel the plane on the way down since I was 22.

Speaker 2: But I was very grateful to have Jeannie as a coach at that time, because, the good thing about your people, they is, they know how to coach people in different stage in their life. So it wasn’t about overcoming the fear. Okay. off getting my first deal on their contract for me was maybe I’m overcoming the fear of reaching people to raise money. Okay. So it was, it was different. I was ready to go under contract for 100 units. Okay. And Jeannie knows that, but it was, it was different. So the good thing about the program is that they, they really know how to help you. Okay. And in whatever

Speaker 3: Been, we’ve been, you know, we’ve been coaching since 2000 and actually we started in 2002, but we’ve been coaching since 2006. So we’ve got, I like to say to people that there’s no type of a challenge that you have, that we haven’t coached somebody through, you know, and all this time. But I can tell you the difference in the mindsets, because you come from a background of doing business. And because you had a couple of successful businesses, you were already under, you had already gone through a lot of the different fears that people go through when they’re first starting a multifamily business, because it’s a business. It is the same as doing business. It is a business. Every, every particular property is its own business. And you had already been through that. So therefore you were ready to jump out at a higher level. You probably scared her away from the cliff.

Speaker 3: Instead of jumping off the cliff, you scare her away from the cliff because your aspirations were so high only because of what your background was. There’s a lot of people that we, when we first started teaching, we were telling people to go for the a hundred unit deal, go for the a hundred unit deal until we realized that most people were afraid to do 100 unit deal first. So now we changed it to start where you’re comfortable. Is it three to six units Is it tend to tend to 40 units, you know, start with a comfortable and then grow from there because you’ll grow very, very quickly. But let’s talk about, so let’s talk about this deal. this, what’s it called South side. So this is a $4.1 million deal. This was built in the seventies.

Speaker 2: Yes. I would like to, and I think that’s going to help a lot of people, that is, is in, in, in this culture, that deal came for an, a broker. Okay. That was in San Louis. Okay. Immune, sir. I was trying to get a deal in San Louis, Missouri, and this guy, I was just saying the mediums, I don’t know about the third deal was like, listen, this is not working. Okay. I’m not going to buy these deal. DCO has more older, everywhere. All these buildings, this is just not going to work. It has aluminum wiring in one, it’s just a disaster. And he said, okay, I’m going to send you a deal, for an, a friend that they are just going to put her on the market. And he sent me these deal. And I was like, okay, I think this is, this is going to work. but you really don’t know where your deal is going to come from.

Speaker 3: So the friend brought you a deal who had gotten it from a broker.

Speaker 2: These broker from San Louis send me these deal in Texas. Okay. Because yeah, because he has his friend from Texas, his friends sent him the deal before. It was a little bit of a few days before he went on the market. This deal was on crack and looking at it was open to everybody. So the only thing is that sometimes people feel that they don’t, they cannot find deals in incorrectly. And, and looking at, I said, listen, there are some deals that you can find get, maybe he’s harder. Okay. But this deal was not an off-market. They actually did a call for offers. And, we have to compete with some other people, et cetera, et cetera. I actually went to Charton at the last UPP. it was a GP, I, I think in Boston, the sent that this deal, which was a portfolio too. Yeah. That’s a portfolio of 208 units. And I finally ended with one of the two because the other, the other one, they, the guys went $200,000 Harmonix they went and I didn’t feel comfortable doing that.

Speaker 3: All right. So let me back out for a second. So this broker from St. Louis that got you, this deal, by the way, if anybody’s from around the St. Louis area, I always like to plug my friend’s place. Clementines. It’s the only ice cream place in the country where they mix alcohol with ice cream, but you can also get ice cream plain, but the flavor, the, the, the flavors are unbelievable. So that being said, yeah. Have you been to climate

Speaker 2: No, but I’m going to go because I have the only contract there in San Louis

Speaker 3: Go to Clementine, talk to the owner to own a Tanya. Tell her that Dave said, hi, Dave from Boston.

Speaker 3: Yeah. They mix alcohol with ice cream. I actually don’t like alcohol with ice cream. So I get the non-alcoholic ice cream, but it’s a, there’s this flavor called crack. Oh my God. So good. That’s why they call it crack. You’ve got to keep eating it and eating it. so anyway, so this broker, this broker you’ve formed this relationship with this broker, how did that happen Because you know, the most important thing is that you form good relationships with brokers. So they send you, you know, send you off to different deals. That potentially makes sense. So how’d that happen How’d you find that relationship with the broker

Speaker 2: I found it, in one looking for properties in San Louis. And I talked to him, many times. one of the interesting things that I was going to mention about this deal is that I actually found this deal and close this deal with my daughter. My third daughter was five months old. So I was negotiating this deal. By the time I practically had a new bore okay. With me. And so it was a little bit challenging, but it was a lot of talking. we, when I found this guy and many other people in San Louis and they didn’t have any good deals, so these guys send me three deals. Okay. And the last one was very big. And then I said, this really doesn’t work for this disease and this okay. But I, I need to close 100 units. Okay. By the end of the year, that’s what I said. I always have a goal in my mind about how many units I have. I want to close. And, Jenny is always reminding me. She’s always telling me, Vanessa, you know, you, you, you have to spend time with your husband too, because sometimes they just go over and above. But I said, I need to close 100 units by, by the end of this year. So

Speaker 3: You went into, you went into the deal with him in the St. Louis deal that didn’t work out. He refers you to, was it his friend or was at another part of his company He

Speaker 2: Was not, he was his friend. His friend.

Speaker 3: And was he a broker or was he a broker as well Oh, he was. All right. So you get that deal, you analyze it on Kresky the numbers worked or, Oh, you go into, you’re going to best, highest and best. Okay. And what number were you, what number are you on The highest and best Were you the top

Speaker 2: On the best finals I don’t think I was at the top, but at that time I was already spent like 30 days talking to this guy about the deal and the broker. The broker No, no. The same one from St. Louis. Louis was already okay. Not in the deal. Okay. No broker,

Speaker 3: No. Let me go to the best and final. All right. So you go to best and final, but you are not the highest, which typically, you know, I say to people, a lot of times you don’t have to be the highest to get the deal. Because a lot of times the person that says they’re going to pay the highest, just goes in to really try to re-trade that deal. And then the seller gets upset and they end up wanting to go somewhere else. So you form a relationship with a broker, which is great, because typically they’re going to ask for the broker guidance as to who do you think we should go to next but can you tell me about your particular situation and how that deal fell into your lap At the highest,

Speaker 2: I received a very good suggestions from my fly, her tea. And he said, call the guy at 5:00 PM just right before, just right after everybody else said, send their offers, go ahead and do so 5:00 PM. I’m find out where do you have to be to get the deal And that’s exactly what I did. I call him at 5:00 PM. I said, and he said, are you going to send me an offer Because we have been talking for 30 days almost every day. And I was like, yes, I want to send you an nothing, but I need to know where, where you are. Okay. And he said, well, I cannot tell you exactly. But, if you are in these, you know, areas, you can get the deal, two of the deals, or maybe both of the deals. And then I sent him the offer.

Speaker 2: So he gave me an idea of where they have to be. But then he came back three days later, or two days later saying, okay, now you are in the top two. And you know, these guys, one, they want to offer $100,000 in, in her money and they want the deal. And I said, listen, I’m not going to go into this game with you. Okay. Really I’m not going to put Harmoni. So if you have to give me one deal, just give me one deal. I’m not going to go for the two. Okay. Give me one. Okay. And I will close that one. Now I do have two clients in this one. And, and, and you don’t have to raise both of the property with one person. Okay. To just go give me one and give the other guy, the other one that he wants to put her money. And he said, okay. That, and that’s why he did. He, he gave him, he, me the brunt, that one in that one South village.

Speaker 3: All right. So now you’ve got the deal. And, the next part of the deal is doing the raise. So you had to raise 1.5 million. Where did that come from

Speaker 2: Oh, well, I have a lot of help from somebody called Jake. we’d raised the money together. Okay. Jake is also another student. Okay. Dad, came with me in, in the deal and our family. Yes, of course. We only worked with the argument or family. That’s the people that I work with. I, I really like, the fact, I feel that everybody that I have met through the argument or family has a lot of high values. Okay. And for me, that’s very important. Every person that Jeannie said, call this person, you guys maybe can work together. They have a high values. And I like that. So,

Speaker 3: So Jake brought with him, Jake Brock brought with him a bunch of investors that he had already cultivated. Was that it

Speaker 2: No, he, he wasn’t too flips and single family homes. Okay. Here in the us. So he knew people and he knew people there already wanting to invest. So it was hard for him. Me, it’s not a was easy for both of us, but we did it together.

Speaker 3: So what was the strategy So he went after the people that he knew in the single family business that could potentially be private money partners. Who did you go after

Speaker 2: For instance yeah, I, I also did, part of the race. I will say that he did, maybe 60% of the race. Okay. He wants to friends, some family, mostly, some people that invested with him in the single family homes, but it was mostly friends and family. And he also went to some friends. I remember. And I think it is important to say I, when I took my son to the dentist, I made my friend with her two daughters there at the dentist. And we started talking about what I was doing. And I said, well, I’m doing this. And I have this deal right now. I’m looking for investors. And she was like, why you haven’t called me Just like that. I have money. I want to invest. It was just like that. so sometimes you don’t know,

Speaker 3: You know, I, when we’re talking about private money, I always talking about the fact that the easiest question to answer is what do you do Or what have you been up to You know And then you just tell them and people that are interested will actually close themselves. They’ll bring, they’ll start talking about their objections and you handle their objections. They don’t realize that they’re raising their own objections, but that’s what they’re doing. And as long as those objections, I handled properly, they’ll keep going down this road of wanting to be a partner in your deal. And then you’ll get to the, they’ll get to the point where she got to. It’s like, why don’t you call me You know, that’s how it works.

Speaker 2: I, I’m not saying the racy monies is easy. I think it’s one of the hardest thing to do. But, but starting out, especially starting out because first of all, doing, but the fact, that experience showed me also that you don’t know where the money is. Really. I just had an investor for $100,000 just because I found her at the dentist appointment with my son. And she’s one of my friends. So you don’t know where the money is coming from. So that’s why you, you need to reach people. You have to tell them what you’re doing.

Speaker 3: Yep. You just laid out there. When I asked you, what, what do you, what have you been up to I’m going to ball up and I’m investing in emerging markets. If they’re interested, they’ll just keep the conversation going. If they’re not, they’ll talk about something else. You know, majority of them might not be interested, but the ones that are, they really are, you just, you know, dazzling with your education, you know, I’ll let you. All right. So when you were doing the due diligence on the property, were there any difficulties, did something pop out unexpected What happened during the due diligence period

Speaker 2: We found something on the plumbing when they, check the main line. Okay. that it was going to cost us like about $10,000. we found that many of the units had like a lot of pets. Okay. I’m talking about two, three, four, five pets that they were not paying for those pets. we found that, I mean, we shopped the competition and we found the departments, you know, needed some rehab and they were totally not updated. Okay. so spray on the countertops and the bathrooms, we’ll, we’ll just do the trick and, and we will be able to raise, the, the rents and the, the important thing is that I was so conservative when I on the road, this, this deal. we didn’t increase the rent in the projection for 18 months. Okay. And the reason because I sent you this deal is because we closed in December and then in January, let me see. Now it was like a year and a half or two years ago. I don’t know. But last year it was COVID. Okay. So, because we didn’t, we, we did on the right, these so conservative and we didn’t increase the rent for the first, almost two years, we were able to do very well last year because, we had like, I think 10% vacancy rate. So it was a little bit affected. Get back. We made the returns.

Speaker 3: That’s really good for a seventies product, because typically those are the hardest hit by COVID because I can see, I can see pictures of it over here. So what price did you guys, agree at Was it, was it the 4.1,

Speaker 2: 4.1

Speaker 3: What did you originally go into contract for Did you, did you renegotiate after you, went through the due diligence process

Speaker 2: Yes, we had to, because we found things on the roof. Okay. Then disclose when you re negotiate for about, I don’t remember less than a hundred thousand, but I think we went in a contract for 4.25. Okay. That we found that on the line, that was something important. I don’t remember how much it was to repair that and we found something on the roof. Okay. You

Speaker 3: Got about a hundred thousand off. And did you take back a repair allowance Yes. How much was the repair line

Speaker 2: Well, no, it was actually the same. There were parallels was, almost a hundred thousand.

Speaker 3: Did you get the money back in a real parallel So did you negotiate it off the price

Speaker 2: Right. Okay. I do understand the question. Yes, we got it off the price. Okay.

Speaker 3: Okay. Okay. Gotcha. All right. Good. All right. So now you take over the property. Now you get your inspection, you get to spend a day on the property. You look at everything, you see some, some issues, but on the takeover, when you started managing the property, first of all, how’d you find your management company

Speaker 2: Eric store, gave me that suggestion.

Speaker 3: Okay. Ever shoot was a banker who finances a lot of deals throughout the U S good resource. and then, so you take over the property. Were there any surprises after you took over the property

Speaker 2: surprises I don’t know.

Speaker 3: What about what’d you do with it What’d you do with the people, with all the dogs

Speaker 2: Well, it took us about a year to finally start charging for those pets. Let them keep multiple pets. No, they said that they were not their pets. Okay.

Speaker 3: And if they weren’t their pets, they just have to be feeding them.

Speaker 2: That would just be seeding misleading. we actually deal adult prior, at the property. So we were able to find aggressive dogs, get into property that we have to tell them that they have to go some aggressive rates. so property management, it took them about a year to finally start charging for the, for the pets they were there.

Speaker 3: Okay. And let’s talk about some of the, now you bought it with a value add, was it, was it below market rents I see all of the stuff that you did on the, on the repairs for value add and the upgrades, but was there a low occupancy or low, low rents in the value adds as well

Speaker 2: They, okay. Let’s it was fine. It was like above 90, 94, I believe. But they were charging for, they were, they had the oil bill spade in the property and it was the only property in that city that had all built space. So we started charging for the, for the utilities. That’s why we didn’t want to increase the rent for almost two years, because we just didn’t want to increase the rent loss charge for the utilities. Okay. Right. They’ll charge for the pets. Okay. Plus we didn’t know that we were half up and emic. So the fact that we did it in a way payoff.

Speaker 3: Okay. So for you value, add I down here that a or your interior upgrades, you did vinyl plank flooring, reshare first, the countertops and the kitchens in the bathrooms you put in new lighting packages, two tone paint. You introduced a green program that targets water savings with a low flow toilets and shower heads paired leaky faucets, which is that will cut your expenses by about 30% a year. If you do that every six months. And then you instituted the rubs system, a resident utility utility billing system,

Speaker 2: That’s fixing the leaking faucets was, when we got, when we did the due diligence, we found on units where the water was just like running. It was not leaking. Okay. It was totally running in the bathroom. It was Gracie. So every time we found one, we were like, yay. We found like a goal,

Speaker 3: Absolutely saving money. I just want to go on. So also on the exterior of the upgrades were the landscaping, the playground and the barbecue area out of the dog part, you park, you upgraded the laundry rooms and you put up a 40 covered parking spaces, which will add to your income as well. Yes. We decided not to do, Oh, you decided not to do that.

Speaker 2: Okay. And the reason for that is because we found out that it was super, super, super expensive in Texas to get the color parking on. We decided that, their returns were just not there on the cover parking. Okay. So far, maybe we’ll do it and all that after COVID, the, the companies maybe will take the price a little bit down, but at that point it was crazy. They wanted a $10,000 for us space. It was like, out of these words,

Speaker 3: Was that deal performing for you right now What type of a actual show are you getting and how much equity have you created

Speaker 2: Pretty good. the investors could pay their 7% return. Okay. And they could pay more. Okay. I don’t remember what we ended. I think it was 10%. I don’t remember exactly. But, the investors are super happy. They’re so happy that they are coming with me in, in other properties. Okay. They’re coming with me in a property that I’m going to close this week. So they are happy. I think that if, if you do what you say that you have, you’re going to do, okay, your investors are happy and your retainers are happy. And, and that’s how you build your business with trust and, and working hard and doing what you say you have to do.

Speaker 3: So you not only survive their pandemic, but you really set yourself up. So when everything really opens up in the fall, you’ll be able to start raising those rents and creating a, a lot of value in the property because of the increased cashflow. So you set yourself up for a really good win.

Speaker 2: Yes. Yes. We’re very happy that we survived the pandemic so far. Awesome.

Speaker 3: All right. So we are going to go into what’s called lightning round. All right. And what I’m going to do is I’m going to ask you a series of questions and they’re kind of odd questions. Okay. This is meant to be fun. And then you respond to the first thing that comes to your mind. And then I’ll let you tell the story that you’re going to tell about your twins. Is there something you want All right. So first question are rats cute. Are, are rats, cute Rats They like mice. Like, are they cute

Speaker 2: Oh, no. No.

Speaker 3: If you could have, if you have any superpower, what would it be for flying What’s your favorite car there Did you know how to salsa dance Oh, yes, I do. For sure. And do you eat salsa with chips

Speaker 2: Yes.

Speaker 3: And do you eat also with chips and salsa dance at the same time

Speaker 2: Yes. Okay.

Speaker 3: From a scale of one to 10, how good are you at live presentations How good would you, where you, when you first started five, do you believe in love at first sight No. How many cups of coffee you drink in a day

Speaker 2: Two or three. What’s

Speaker 3: Your ideal Outside Temperature 74 degrees. Have you ever slapped somebody in the face

Speaker 2: Yes.

Speaker 3: Final question. Why did kamikaze pilots wear helmets

Speaker 2: Could you repeat that again

Speaker 3: Why did kamikaze pilots wear helmets

Speaker 2: I have no idea.

Speaker 3: Okay. That’s, that’s, that’s our lightening round. So did you, or did you have a story that you want to talk about your twins Tell us about your twins early on.

Speaker 2: It was actually about my, my last three kids, because when I was, when I was trying to find out what I wanted to do. Okay. with my professional life, I was actually struggling of getting pregnant with another child. Okay. my family, my husband and I wanted to have many kids. Okay. But after our second child, I just couldn’t do it anymore. And the doctor says that I wasn’t going to be able to be able to have more kids. And then, when I went into this journey, I, I feel that I was so happy to be doing something that I like. Okay. And then I started getting pregnant out of the sudden, and Jenny was telling me, Vanessa, you’re doing this business. How are you going to do it with a baby And I just didn’t do it with one. I did it with three so far. Okay. Which he has some been that easy. Okay. But I, I just do it. And I just want to encourage people that are moms and everybody that is in our iMentor that have kids used to work hard. Just the fact that you have 5 million kids, it doesn’t mean that you don’t have to create a business for

Speaker 3: Yourself. Okay. And we have to find time for the family, but this is, this has been really a ride for me. That’s yeah. Yeah. W you know, what you’re describing is a challenge. And, you know, if you walk around this, this, this, this 12,000 square foot building, you’ll see pictures of people like you going out there and they’re doing deals. maybe, maybe it’s most of other first deals. And some of them after they’ve created a big portfolio, but every one of them comes from different backgrounds, you know, they count from different parts of life. and they have their own unique set of challenges. I mean, everybody has some sort of a challenge, yours where your children, some people were working two and three jobs. Some people just have a past history is that we’re difficult. And the whole idea behind mindset, your own mindset is overcoming those challenges.

Speaker 3: And just deciding that you’re going to do it. And when you make that decision that you’re going to do it, nothing’s going to stop you. You become unstoppable, which is actually the title of a really great book unstoppable that, I read early on that helped me to become unstoppable.

And I actually had, the, the author of that book come to ultimate partnering. I think it was seven and, be a keynote speaker. So that was profound for me when that happened. So if you liked this episode, you can press the like button down below, subscribe to us. So you don’t miss an episode and hit that bell. And you’ll be notified when there is another episode. So this has been multifamily deal app.

Speaker 1: You’ve been listening to the multifamily deal lab podcast, where the deals get done. If you’d like to learn more visit Dave’s free book.com and don’t forget to leave a five-star rating and review and hit that subscribe button. So you don’t miss an episode. Thanks for listening.