Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.
With simple and conservative investments that could do it for you. Over the last 13 years, we’ve helped thousands of clients transact over half a billion dollars in simple and conservative real estate transactions, allowing them to begin replacing their work income with real estate investment income.
Each week, we’ll be pulling back the curtain on the ins and outs of real time retirement based real estate transac. With simple and conservative investments that could do it for you. Over the last 13 years, we’ve helped thousands of clients transact over half a billion dollars in simple and conservative real estate transactions, allowing them to begin replacing their work income with real estate investment income.
Each week, we’ll be pulling back the curtain on the ins and outs of real time retirement based real estate transac. That will transform your financial future even if you have no real estate experience. This is replace your income with me, Kevin Clayson and Steve Earl. All right, well, hello everybody and welcome to Replace Your Income with Kevin Ann.
Steve, how’s it going, Kevin? Fantastic. And I am just excited we’re recording it again. I like recording podcasts with you, Steve, and we don’t do it enough and, and I like it. Okay. It’s, it’s, I’m glad you like it Kevin. It’s the only time you’re so busy and you have so many things you’re juggling and I sit around and play on the internet all day and this is the only time that I get to really talk to you and we get to have these cool conversations cuz you’re so important.
CEO of Done for You Real Estate. Oh, Kev
Come on, Steve. It’s okay that people can know. Um, no, dude, it’s good. It’s good to be with you and, uh, man, we have so many amazing things going on and we just as always want to thank you guys. If you’re listening, thank you for being here. Thank you for listening. We appreciate you so much and, uh, we love doing this podcast.
And can Steve, can we tell him a little bit of, of why. Uh, we’re really excited to continue the podcast and some of the things that are coming in the future that will make it even easier and cooler to record the podcast moving forward. Can we, we haven’t talked about that yet. Haven’t Sure. Yeah. Go for it.
So done for you Real estate just purchased a new office and in that office there is a space dedicated. As a recording studio. So we are gonna be, in fact, next week we’re gonna be meeting with the tech team. We’re gonna get everything set up and here’s what we’re gonna start to do. We are gonna start to do video on these podcasts so that we can get these on the YouTube channel.
We’re gonna have the podcasts that are being recorded consistently, cuz we’re gonna have this amazing studio, studio that soundproof right now. You know, we, we record our studio is my office, but the office that we’re currently. Let’s just say the walls are not terribly thick and soundproof. Right? Yeah. I like right now, everybody in all of the other offices.
That’s right. They can hear us as clearly as you do in the audience. . It’s so bad. I had somebody tell me once, I think it was Shelly was sitting out here and she was like, oh, I love listening to the podcast, and I get to hear it twice. I get to hear you guys recorded, and then I’ll usually listen to it after the fact that I’m like, yeah, cool.
Because every. Their nose. Hi everybody. They all know what we’re saying. And so this is gonna be great. It’s gonna be a soundproof studio, uh, where we’re gonna be able to, to have some cameras where we can video all of these so that it’s just another way to have the podcast consumable. And, uh, I just think that’s, I think that’s awesome.
I, I’m super excited about it. I think it’ll take things to the next level. We’ve been doing the podcast, now we’re going on two years, right? Yes. And so I, I. You know, we’re, we’re of the mindset. It seems like everything that we do in business, we, we take our time. We’re pretty conservative in our approach to things.
Yeah. And so we like to give things time to, to see how they’re working and what’s going on and getting the feedback and so on. And, and, uh, it seems like when we’re really working with something that looks like it has, uh, That about that two year mark is when we tend to take things to the next level, right?
Where we have enough information that we can, that we know what we need to do to take it to the next level. And I’m excited about the podcast and all the things that you just talked about that we’re gonna be able to do with it. What I was just thinking about this, you know, one of the things that that would help take it to the next level that I think everybody should help us with is if you have not gone and given.
Five star review. Will you go do that? Um, and if you don’t wanna give us a five star review, the name of the podcast is Income Replacement. Uh, that’s the name of the podcast. If you want to give us a five star review, the name of the podcast is Replace Your Income. Okay? That’s, that’s what it, no, but really, if you guys have not gone and rated and reviewed the podcast, Uh, that would be really amazing.
In fact, I’m looking it up right now. Let’s see how many reviews we have, Steve. Okay, we’re gonna, we’re gonna check, uh, hopefully it won’t play. Okay. We’ve got 108, five star reviews and so you guys, thank you so much. You know, it would be awesome. Let’s get to 200. So if you guys listened, if you have not gone and given us a five star review, will you go right now and go give us a five star review?
How do you do that? Depending on your podcast platform, and I’m talking specifically about Apple iTunes, I, in the podcast, if you’re looking at, like right now, if you’re listening inside of your, uh, podcast app, you just click on the reviews and then when you click on the reviews, it will give you the ability to be able to leave a review.
Right. If you click on the show, you can scroll down to the bottom and you can leave a review. So if you would go do that, that would be awesome. And then if we could get to 200, that would be super cool. Okay. So now that you’ve shamelessly been asking for, you know, endorsements and everything, yes. What are we talking about today?
I don’t know if that was all I was gonna do. Were we, should we have content? I guess I actually think we have something pretty important to talk about today. Yeah. No, today is awesome. So, uh, you guys, we’re gonna be sharing a little bit of a story with you of, of some of the work that we’ve been doing that that led to an announcement that we made very recently.
And, you know, Steve, there’s a lot of stuff that we do behind the scenes. Especially, there’s so much that you do and that you coordinate behind the scenes that I don’t think anybody would ever know. Steve is so dedicated, not just to this company, but, but he’s dedicated to you as a client or as a prospective client.
And I could tell you this, Steve is a, is a visionary guy from the standpoint of he’s not this visionary, that that is like trying to think of these intangible, you know, ideas like we’re going to be a multi-billion dollar company five months from now. Feels good. He, he is constantly looking at tactical, real ways that we can grow and expand and serve you better.
And in light of that, Steve, for years now, we’ve been knowing that there was something that we needed to address and something that we needed to kind of figure out. It wasn’t like there was a tremendous sense of urgency, but here’s, here’s kind of the situation and, and what led to the big announcement that we made.
When we started this company, Steve, in fact, I was at the gym, uh, talking to Adam, who works here, works for us as an account Execut. And he was asking me about the founding of the company, right? And I was just kind of talking about early days. I was just doing mortgages. And he was like, he asked the question, he’s like, how, how did like Steve get involved again?
And I told him, you know, about the Earl report and that you were working with some investors and that we kind of got connected and then you came up with this amazing business plan that is now what is today done for you real estate? And I was just kind of talking about that whole story and, and I always joke around that you always had a vision.
I think for what done for you real estate could hopefully become for people. I just thought we were a Utah based real estate investment company doing Utah real estate for Utah people and, and you always had this bigger vision for it. Well, as a result of your vision and, and how we’ve tried to grow the company and work with clients all across the country, in a way we’ve kind of been victims of our client’s.
From this standpoint, right, that so many of you have done real estate now for so many years, that you don’t own properties in just one market. You own properties in multiple markets, and if you own properties in multiple markets, you have multiple property managers. And so now you’re managing multiple property managers for your portfolios.
Spread across multiple markets because you’re on the path to economic independence and owning 10 properties. And Steve, that kind of created and has over the years. We’ve had clients talk forever about, man, it would be awesome if there was just a, a really simple property management solution instead of me managing multiple property managers.
It’s pretty clear as well as we have had conversations with our clients because we constantly are seeking their feedback. Is that, that has been the number one concern probably over the last. Three-ish years, maybe four years we’re, we’re, if there was something that our clients could change about what the done for you system is, it would be on the property management side of things, and here’s why.
Kevin, we’ve done a, a really good job on the front end of things in terms of. The purchase process, like the purchase process, the identifying a property, analyzing the property, making sure it’s the right property in the right neighborhoods, all those kinds of things. And then in addition, finding the property, then rehabbing the property, getting the L, the lending, um, closing on the property, and then placing a tenant.
You know, all of that, which takes anywhere from, you know, typically 30 to 45, 60 days. If it’s new construction, it could take longer because we’re waiting for things to get done. But that part of the, the ownership of a property we’re investing in a property is very short-lived. That’s a very short, intense period of time that is critical and crucial to what it is that we do for our clients.
But once you have that property, Now you’re gonna own it for five to 10 years. Yeah. And we have some really great, uh, property management partners. They’ve been awesome. They’ve been awesome over the years and do a fantastic job. But what kind of, what you described of, now that we’re to the point where we have so many clients who own properties in so many different markets, so many different states, and even multiple properties in multiple, in multiple, uh, markets, is that now they’re managing, you know, different systems, different people, d.
Structures of communication and, and fees and personalities and all these different things, software platforms, and yeah, it’s, it’s now of a sudden it’s like, holy cow. It’s like, well, you’re not, I feel like I’m doing most of the heavy lifting now because of all, all of that. You know what all of that.
Difference and in the multiplicity of all of these different, uh, organizations that, that they have to deal with. And I mean, to, to a degree like, it, it, it is still doable, you know? Sure. But it’s not as simple as it could be or it’s not as simple as we want it to be for our clients because ultimately, like you just mentioned, this economic independence that is gained through the ownership of 10 plus, um, investment proper.
Has become our mantra That’s right. In our effort to It’s the real mission. Yeah. That truly is, is the mission in, in helping people replace their income? Like economic independence is, is, comes through ownership of multiple properties. And so we’ve given this thought, like we’ve been thinking about this like for years we’ve known that this is.
Has been a thing. It hasn’t, you know, been, it hasn’t come to like a head like it has in, in the last, you know, couple of years. Right. But we’ve been thinking about it to the tune where we’ve, we’ve looked at multiple different options. We thought about do we actually start our own property management company?
Yeah. And, and set it up in all of these different states. We, we got, we actually had some. I think intense conversations, and then we’re talking to other potential consultants and stuff too, like what would this look like if we, and, and the whole reason why we had that conversation. Was honestly, it was like, well, look, I’ll put it this way, so I’m a really simple guy, right?
Like, I’m not that smart. I’m not that complicated. Okay? It’s like when I find something at a restaurant that I know I like, I just go order that thing. I’m not the guy who’s like, let’s try the whole menu because. I just like it simple, and I like it predictable, right? That’s who I am. And so when I think anytime something in my life begins to have too many details and too many complications, I simplify, simplify, simplify, right?
Because I don’t have the brain capacity to wrap my mind around all of the things. That’s just me. Yeah, I think you’re probably really similar, and you look at the solution that we’ve tried to provide at done free real estate, right? We’ve tried to become the definitive solution for really busy people who wanna own all the benefits of real estate, but they don’t have the time, the expertise, the ability to go and do it on their own, right?
So it’s always been about. Simplification, right? and, and I, I, you know, I, I would think I, and you, you, you and I do this a lot. I mean, I try to spend a lot of time in your shoes, guys, if you’re listening, talking to you, anybody who’s considering investing in real estate, uh, who’s a PR perspective, real estate investor who is currently a Denver for real estate client, I spend a lot of time in your shoes, right?
Meaning I think like, what would this feel like? And whenever I go out into the real world, And I’m having experiences with other businesses. I’m always looking at my experience with other businesses through the lens of your experience here at Dun Fue real estate. Meaning if I go and I’m, I’m trying to buy some sort of a service, or I’m looking for, I, I’m, I’m always evaluating.
What they’re offering me and what I’m buying through the lens of, does this feel like, was this easy for me? Was this comfortable for me? Was this, was this too complicated? Because I’m always thinking about what can I take from the world and how do we simplify the experience here at Dun Fu real estate?
Right. And so, as I thought about our clients, as you, Steve, have thought about our clients, we’ve heard from so many of you for a long time that it’s like. Man, it w you know, gosh, it’s awesome. Our property managers are awesome, but it would kind of be nice if we just had like one place to log into and we had like one contact, which is the whole reason, Steve, we started to have those intense conversations about like, well, is it something that we just own?
I mean, like we do the mortgage, like we. Due on just the vetting piece of, of how we’re providing real estate. Like we’ve got these teams in the market, we’ve got the at-home team. Is there a way that we could bring it in one place and, and own the whole thing so that we can own the experience end to end for our clients?
And it just, it was nev, that solution of us owning it ourselves just was never that viable. Yeah. I mean, ultimately we, we made the decision that that. The best solution. And so we looked into the solution of like a large, you know, national company who already owned like thousand, tens of thousands of homes.
And we spent quite a bit of time researching and actually talking with some companies like that. We ultimately decided that that didn’t have the personable feel that, that we felt like it would need. And, and ultimately as we really looked into it, um, in many circumstances, in many instances, we didn’t feel.
They would be able to deliver or that they actually didn’t deliver, um, what it was that we needed our clients to, to receive. And we, we looked into maybe trying to, just creating more coordination and organization between our existing property managers and we, uh, you know, looked into all kinds of different possibilities there.
And, and ultimately we, we didn. Have a solution or find a solution until recently, you know, maybe 6, 7, 8 months ago. Yeah. When, when you had a fortuitous conversation. . Yeah. So, uh, a, a good friend of the show, good friend of us, good friend of ours, uh, we’ve got a good friend out there, uh, by the name of, uh, Kai and Tony and Kai, um, who we’ve worked with a bunch.
He, he actually. Is a great accountant and he and, and his good buddy, Tony, who’s a good friend and client of ours, um, provide some of our clients accounting services. And Kai had come to me and he was like, Kev, he’s like, Hey man, have you ever heard of, of Specialized? And I was like, um, no, I don’t know. And I actually, I was like, yeah, like the bike company cuz I used to work retail and I’m pretty sure there used to be a bike company called Specialized.
Right. And I was like, still is. Uh, and, and, and I. Um, outside, he’s like, no, they’re a property management company. I was like, are they here in Utah? He’s like, well, they’re based in Texas. Like that’s where their c e O is. But they’re really a national company and there’s a number of people here in Utah. And he was just kind of sharing it with me and he’s like, dude, I’m gonna introduce you to Zane.
And Zane was kind of in charge of, so some of the onboarding and, and sales for specialized and Zane lives here in Utah. And so Kai introduced Zane and I through a text and I didn’t really know what I was getting myself into. Uh, I talked to Zane and, and we decided to go have Indian food, right? There’s a great Indian restaurant here in Orum.
Call, I think it’s called Koor. And we went and I thought we were just gonna go have a 45 minute lunch. Oh, cool. You’re in property management. We’re in real estate. Great. We’d high five each other, eat some curry and go on our way. Well, almost three hours later we walked away from the table. Zane and I realizing a couple things.
Number one, it is so rare to find another company that is so aligned from a value standpoint, right. Um, I’m really. Of companies that do not put their customers first, of companies that are more self-interested than they are customer interested. And my, my, you know, my antennas are always up for those guys, right?
Those hucksters that are looking to sell and not serve. And, uh, and, you know, selling’s wonderful. We all love to sell everybody in. Sell, but there’s a way to sell through service and caring about the person that is receiving the service. And there’s a way to sell where you are purely self-interested, you don’t care.
All you care about is selling and making money, and you don’t care what the client gets. And it’s so rare in real estate. To find companies that think through a service mentality, right? And actually care about the customer. And I was so overcome by that sense and the values that they had as a company, their integrity, how they wanted to interact, and how they had been interacting with their company, and then their experience.
I was so shocked there too. I was like, you guys, I mean they’ve been doing this for, for 15 years. In this capacity, but both the c e O of Specialized and Zane had tons of property management experience and owned property management franchises in the past. And they’d both been very successful business owners and had massive businesses that they’d sold off on multiple occasions.
And so I’m looking at Zane and I’m like, holy cow. You guys have all this entrepreneurial experience. You’ve had all of this business success, and you have all of this background in real estate and I property management, and you have a property management company and the values aligned perfectly. And as I was talking to Zane and I was asking him questions, I started to realize that everything, Steve, that we’ve been talking about, whether it was gonna go and we were gonna get our own property management company or try to unify our existing property managers.
All of the checklist that we had for ourselves and all of the checklists that we’ve heard from our clients about what they would want if there was a more centralized, unified approach to property management. I’m looking at Zane, whose values align perfectly with all of this experience, and I’m going, oh my gosh, are you a unicorn?
Like, is this real? And Zane tells the story, you know, we become really good friends with Zane and Chuck. Chuck, who’s the CEO O of specialized in Zane, who’s one of the higher up and one of the owners as well. We’ve become really good friends with them. And I said to Zane as we got done talking over Indian food for like three hours, I was like, Zane, if you guys are who you actually say you are, we’ve been looking for you for a long time.
Uh, that was a phrase that I’d used and I actually forgot that I’d used that phrase, BA Zane didn’t forget it. And he reminds me and. Led Steve to a another meeting where Zane and I said, you know what? The CEOs of our respective companies need to hang out. And so Zane and I were able to set up a meeting where Zane, myself, you and Chuck all went to Chuck’s home in Park City, uh, where he had, where he had a home cuz Chuck used to live in Utah.
And we started to talk and just see is there really a values alignment? Are they who they say they are? Is this a legitimate property management company or solution for our clients? Is this something that could make a done for you experience, more done for you? Were , which which is, I like that for, I don’t know how you make.
Done for you, done for Youer, but I think we’ve done it and, and maybe pick up the story there, Steve. We went and sat down with Chuck and what were your, what was your experience as we started to have those conversations and begin a lengthy research process that led to the announcement that we made very recently.
Yeah. What’s interesting about how we came together with specialized property management was it didn’t start out with, Hey, let’s, let’s do business together and let’s take over the world. It was. Who are you and what are your values? Totally understand and where do you come from and what is your experience and who is your family and all of these different things on a more personal level to where we make a good point.
It was definitely Morgan. I was like, that was Zane at lunch. Who was like, who are you not, what do you do? It was like, I kind of get what you do, but let me figure out who you are before I find out what you do . Yeah. And, and, um, before we actually had that meeting, um, Kevin. I happened to be in Texas. Oh, that’s for a conference.
That’s right. You went and met Chuck in Texas and he, he was, he was, uh, had just moved out there and so I was like, Hey, Kevin, could you maybe set something up and I’ll go, I’ll go meet, uh, Chuck and we’ll go grab some dinner and did that. That’s right. That’s right. I forgot about that. And, and we had a very productive conversation there where I got to know him a little bit better.
And then we met at his house a few weeks later and, and I think we spent four or five hours with him there just talking. You know about those things. And then we, and then, you know, went into our, our business models and our infrastructure and, and our, you know, the, the, our company values. And then, and then we got more detailed and granular and, and from that meeting, I, I feel like we felt like, okay, I think maybe we can take some next steps.
And that’s where we began, you know, meeting, uh, their team and their team, meeting our team and further, you know, bringing, because we have some in our company. We have very independently minded leaders in our company. Very, very capable leaders, very, very confident in what they’re doing and how they do it.
And also very, very protective of our clients and of what we have built over the years. And so oftentimes when we bring them different things, they’re very hesitant, very cautious, very careful. And one of the next steps was introducing their team to our team. And we did, so we had this video conference.
and it was interesting when we finished the video conference and we sat around our conference table, our team kind of just looked around at each other and they’re like, what an impressive group. It was almost intimidating to them to be talking to their counterparts of individuals with equal or greater competence than their own.
Yeah. Which isn’t typically the case. I’m pretty sure a specialized team went hold the, who were these dummies? But we looked as specialized and we went, who were these geniuses? Yeah, so that was, that wasn’t for me. That was a pivotal moment because that’s always the litmus test for me is when our team gets together and we talk about and think about and vet, you know, different opportunities.
We walked away from that very first meeting and everybody was like, Kinda what you said, if, if they are for real, like this is, this could become something. Yeah. You know, just from a product offering standpoint, here’s what really to me, both as an investor and then just thinking about our clients, that was really attractive to me about specialized property management is.
Obviously number one, they had a really expert team, vetted professionals who really know what they’re doing. I mean, they, they actually, I think they do, uh, like intelligence, uh, or, or personality tests for everybody. Everybody there is just off the chart, smart and really proficient and really high value driven people.
Right? And, but, but at, in their product, in what they’ve developed, I mean, Property management for years has been, I think it’s always kind of the, uh, it’s always kind of the black eye of the, it’s so interesting because it’s where the rubber meets the road. Like if you’re gonna be cash flow positive and you’re gonna have a good experience of owning a long-term rental.
Property management is critical, but at the same time, it’s probably the most difficult, frustrating piece cuz it’s what’s happening every single day, right? It’s not a real estate transaction that once it closes, it’s like we’re onto the next sort of situation. Property management is dealing with. When we’ve had podcasts on this, it’s dealing with owners, it’s dealing with geographical areas, it’s dealing with tenants, it’s dealing with maintenance and rehab crews.
It’s dealing with, with rent collection and distribution. I mean, there’s so much that goes into it, and I think it is a very thankless job, and it’s a very difficult job, but it’s so critical to the real estate investment experience. As I started to kind of dive in and understand what it was that specialized property management offered, I went, okay, so they have a really strong centralized corporate culture, ideology, values, which is what we have, right?
Then they’ve got exceptional, amazing teams on the ground in multiple markets where they are servicing as property manager. Kind of similar to us. We’ve got really great people on the ground in multiple markets. Then on top of that, they had a really simple pricing structure, just like we have, our pricing structure is really straightforward, right?
It’s like you come do real estate, we charge the 4,000 and hundred and $95 teams fee that goes on the closing documents as a separate buyer, paid commission, right? And then there’s some money that’s made for our company through the actual transaction process, but we don’t have some sort of complicated, you know, it’s, it’s.
Sort of a one singular fee approach. Well set, um, specialized. That’s kind of what they had, is they had this flat monthly, um, rate for property management regardless of market, regardless of purchase price, regardless of rent amount. And I went, oh my goodness, that’s so easy for me to wrap my mind around.
Right? And then in addition, They were viewing it as, we’ve gotta look at property management through a different set of lenses. It can’t be viewed the way that it’s always been viewed and the way that property management has rarely taken any steps forward, both in terms of technology and experience for probably decades.
Right? The way Steve, you and I look at real estate investment is we’re like, there’s so much out there. People that sell education. Turnkey, quote unquote turnkey companies that are getting you a property and then turning it over to you and then you’re having to figure it out on your own. We’ve said we wanna look at real estate different.
It’s gotta take some steps forward so that it could be beneficial and work for average everyday folks, just like you and me and specialized had something very similar to the way that they were. Approaching it. The other thing that was so impressive by specialized, when we first started to meet with them, and this is where they are, I, I think, uh, you know, quite, quite a bit ahead of even where we are is on the technology aspect of things and, and they’ve got this technology stack the way.
The way they utilize technology, both to communicate with the owners, to communicate with the tenants, to manage the, the, the rehab and, and the maintenance process, as well as just the reporting and the data so that an investor who owns properties across multiple markets with a company like Specialized that now has a.
Flat rate across the board has one centralized concierge sort of communication outlet through specialized that they’ve simplified communication, they simplified pricing, and now you add to it all of this amazing data. And that’s so important to us, Steve, cuz we pull data every. Single year for our clients through a game plan review or, or sometimes you’ve heard us talk about it as an annual property and market review, where we’re able to look at an individual’s game plan, see what’s going on in their portfolio, see what the next steps should be.
And so you look at all of these massively critical things that for us have meant a great done for you experience and they’re mirrored or improved by specialized on the property management side. And that was just, to me, it was overwhelming. And that’s why I said to Zane, holy cow. If you guys are legitimately what, what it seems that you are, you know, we’ve been looking for you for a long time.
Yeah. So two things, Kev. So on that note, every, everything, everything that you said, spot on. Um, I also wanna bring some, you know, uh, some reality to, you know, this transition as awesome as we believe. It is going to be, there is no magic silver bullet in real estate, nor in property management like this isn’t like all of a sudden, you know, everything is ponies and roses, right?
Like property management is property management. You’re, we, you know, you, if you own a property, it’s a physical asset and they’re, and with somebody living in it. And so you’re dealing with people and personal. And something, you know, a physical asset that needs maintenance and things break and different things happen.
And so it’s, it’s really a matter of how all of that is managed and we, and, and everything that you des just described, we believe will elevate the experience across the board for, uh, all of our clients who choose to, uh, to move forward with. New, um, one property management solution our in, in our existing clients and moving forward, you know, they are our preferred property manager and so we’re excited about this re relationship and about that opportunity for our clients.
Now, in addition to the property management side of, than Kevin, what this new relationship for us means. Is they aren’t like this. They’re not in all states and in all markets. Right. Like they are a very regional company and they are very specific in where they have currently gone. And then, and they aren’t currently in all of our markets.
No. Right. And so they are expanding into, um, the markets where we are. So they can provide. This one property management solution for all of our clients who choose to, um, engage with them. Um, but what’s exciting is that another thing that our clients have been asking for over the years, especially as they are really engaging this economic independence, owning 10 plus properties, is we’ve known that we needed to be in a few more markets in order to accommodate this effort.
And so what this does for us, Kevin, is it immediate? Opens up seven additional markets that we will be opening up this year because specialize is already there. That piece of the puzzle already exists. There’s some things that we have to do in preparation to be in those markets, but it’s, it’s greatly simplified.
In that effort. And so there is a new market that we are opening at the beginning of February that I’m super excited about, and I’ll let you, uh, talk to that in a minute. But that’s one of the other things that I’m super excited about is that our ability to go into new markets very, very quickly over the next few months.
And this? Yes. Thank you so much. Absolutely, and like Steve said, there is no magic bullet. Property management is still property management. It’s still difficult, but we believe that this, this having specialized as our new sort of preferred property management relationship moving forward, as we move into additional markets, as people continue to invest in real estate, uh, we, we do believe that this will answer a lot of questions.
Simplify a lot of the process and will hopefully answer or be a response to the feedback that so many of you have given us for so many years about the things that you’ve kind of wanted and hoped for as you own properties in multiple markets. Now, before you reveal to everybody the first new market that we’re gonna be going into here in 2023, um, another thing that I want to just, just bring up, um, and uh, and, and address is this.
We went to New York for, for Christmas Uhhuh, and it was an awesome, it was an awesome experience. It was a little bit difficult getting out there, uh, but the experience itself was, was amazing. But you know what, you know, New York gave us a gift that just keeps on giving . And so I’ve, I’ve got that, you know, still, I’m like in, into week three of it now, or week two and a half, whatever it is.
I still have a cough three weeks later, so still there. I don’t think I’m getting you sick or anything, Kevin. I’m good. But I also got like, you know, kind of, kind of like. You know, the, the, the brain fog thing going on, that’s just natural for me. , that’s, that’s kind of the, the natural thing. But, you know, one of the other things that, um, I wanted to, you know, just bring up, uh, just real quickly in just a minute, um, after you make, after you make the announcement where we’re going, I’ll, I’ll, I’ll, I’ll bring this up.
Okay. What’s awesome is with specialized because, so every time that we’ve gone and set up a new market or open up a new market, the challenge has been we could do the research and we could do the vetting. Now we could go find the market, but then the challenge has always been how do we find the property management solution that is going to us?
Assist us in that market. And then how do you train them? How do you vet them? There’s certain expectations that we have for property managers on the Dun for real estate experience side. And so that’s why, because specialize is already in multiple markets, uh, across the country where we have not been investing, it means that we get to put ourselves in a position to take you to these markets.
And right now we are in the final stages of getting everything ready on the. Side and getting our team in place to find the properties because the property management is already in place. Y’all have been asking you, you just hear what I did there, y’all, y’all have been asking for Texas for a long time.
Well, Dallas Fort Worth area is on the menu starting in. February Dallas. Here we come. Everything’s bigger in Texas. I hope that means cash flows and profits too. But let me tell you what, we are so excited to be able to go to Texas. We’ve already got an amazing team that’s going out there and getting everything set up on the acquisition side.
The property management is good to go. And so ladies and gentlemen, Dallas is on the way and let me clarify if it were up to me. I wouldn’t want to go invest in Dallas because that’s where the Cowboys are. And I hate the Cowboys as an n F NFL team, but from a real estate standpoint, I’m real excited.
That’s awesome. You always gotta put your priorities in, in place, Dennis. Yeah, that’s, that’s exactly right. Yeah. I appreciate that. Yeah, so, so it’s, it’s super exciting to, to know that we’re, we’re going. Do we want to announce some of the other markets? I think that we can go ahead and, and, uh, go ahead and share, um, some of the other places that we’re gonna be going to in the coming, uh, uh, months.
So on the heels of Dallas, you’re gonna be seeing markets like Birmingham, Alabama, Atlanta, Georgia. You’re gonna be seeing Houston, Texas. You’re gonna be seeing some of these additional markets that you’ve been asking about. I think I’ve had so many people. I think if I, if I were to think of what have y’all, To me about, uh, what about this market?
What about this market? The two that I hear actually, the three that I hear more than any are Alabama, Georgia, and Texas. And that’s where we are going. And so by the end of the year, you’ll be able, all of our existing markets will still be there, Oklahoma City. On the map, Florida ready to go, uh, Knoxville, Memphis, Mississippi, Indianapolis, all available.
But you add Dallas and you add Birmingham, and you add Atlanta and you add Houston. You’ve got an incredible set of places where you can invest in real estate. In Imagine owning multiple properties across multiple markets, having one singular face structure, one. Call one concierge service and data that backs the entire thing.
One place to log in. You can see everything that you need right at your fingertips, and hopefully cash flows will be higher and, and the experience will just be exceptional for you as you continue to move towards economic independence. Owning 10 ties and buying property one property at a time on your way to everything that you’re hoping to.
It’s pretty awesome. Super exciting. It’s something that we’ve been working towards for a long time, Kev, and as a company, as an organization, it’s kind of monumental for us right to, to be taking those steps into those markets and, and being in a position to open them. Very quickly and with a one property management solution.
And so one of the things that, that maybe we could just address really quick. Yeah. And this is what I was gonna allude to earlier, is we, we talk about them being an in-house solution. We talk about them being a fully integrated solution for property management. Tell us a little bit about what that means, Kevin.
Yeah. So, you know, for us in-house just means there’s a really simple. We don’t own specialized property management. They don’t own us, right? We didn’t buy parts of each other’s companies. But what it means is that everybody that’s investing in real estate in the future, right? Once we’re open in all the markets, um, once specialized is ready to go, when all of the markets.
It means that regardless of where you’re looking to invest, you’re going to have a really simple handoff in-house that’s gonna go from your account executive to the market agents, to the property managers that are working in conjunction with the agents that are working in conjunction with your account executive that are working in conjunction with the lending and everything that goes with it.
So what means that the. Of one singular solution, one singular pricing structure fully integrated into the entire process. You don’t have to wonder if it’s gonna be 10% in this market and 8% in this market, and a flat fee in this market, and then an 8% starting in year three. You’re not gonna have to wonder about what the pricing structure is.
It’s gonna be the same. Each market, you’re gonna be talking to one single concierge. If you have property management questions, if you have property management issues, as you move forward after you own the property, you’re not having to contact multiple property managers. You have one phone number that’s working directly with done for you real estate.
So it is fully integrated in-house, which just means the simplicity of the handoff is we’re. All talking the same language. We’re all doing the same thing. We don’t have different, uh, you know, standard operating procedures in different markets for different vendors. It’s all one singular experience, and that’s what it means to have this in-house fully integrated, one seamless experience end-to-end.
And from a. Uh, operational standpoint. So you just described everything that the client will experience from a fully integrated system, uh, in-house type system. For us, what it means is greater simplicity as well. So, um, our ability to, to work together to solve issues or problems to make things more efficient, like we are literally.
Working together on a regular daily basis with them. There is full transparency in all of the, you know, eligible data share information. Some, some data information is very confidential, you know, as far as like client data, that kind of thing. And tho those firewalls exist and, and, uh, between the companies and that’s very important.
But on other things that, that allow us to have insight and inform. Real time Kevin. Like we are able to have real time conversations with our clients in knowing and understanding what’s going on with their property so that we can better assist them in helping them to make decisions when that is requested.
And so that ability, that transparency, the sharing of, of data and information between our companies, between our organizations is like real time. It’s something that we have felt would be critical, more critical as as we continue to. In our effort to personalize each experience with each individual client, because at the end of the day, Kev, we are no larger than one individual client having an individual conversation with one of our account executives.
That’s right. Guys, this is gonna be so exciting. We hope that you’re excited. If you have questions, reach out to your account executive, or feel free to reach out to us at the company. We’re happy to answer those questions. We’re excited for what the future holds, and we’re excited. Step forward that we believe that we are taking with you and for your done for you experience making done for you even more done for Youer.
I love it. , that’s the tagline. Making done for you. Even more done for Youer. I like it. Should we just go with that? Let’s just go with it. Let’s get some shirts made. All right everybody, thank you so much for tuning in. We appreciate you and we’ll talk to you real soon. Thank you. See ya. Thanks so much for listening to replace Your Income with Kevin and Steve.
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