EPISODES
Episode 33.
Thomas Henry, Vice President of Investments, Stone River Company
… great idea a solo episode focusing on Hawaiian Real Estate. It is such a unique market and I think he would struggle to find a state that is more beautiful than Hawaii. By no means am I had expert on in the islands, but I went down a few fun and engaging rabbit holes. Do you wonder what options you have to cover yourself from volcanic activity as a real estate investor in Hawaii? Stay tuned and I will fill you in. Thanks for listening. You’re listening to the real estate of things podcast. Aloha and welcome to the real estate of things podcast. I’m your host, Dalton Elliott. I just got back from Hawaii. Shout out to Mary and Zach for inviting my wife and I either their beautiful wedding. While I was in Hawaii, I popped open zillo bunch of times and Geez, what a real estate market. You are in paradise, though, so that trip really kicked off the…
…idea for a solo podcast to really share some market insights with you. Courtesy of LEMO and capital, the nation’s Premier Lander for real estate investors. So, though I was on the Big Island for my trip, we’re going to focus on O Wahu and Honolulu. I think the best place to start is just really high level, where you usually start with real estate. Let’s look at prices in the market. First lesson I learned out there is paradise ain’t cheap. The median single family home price is one point one five million dollars. That’s on the high end, right, the highest end this in terms of comparatively across the country. Right. This is up from nine hundred and Fiftyzero a year ago. Right. So, just like every other part of the country, Hawaii has experienced incredible growth. That’s over a twenty one percent increase year over year. So that pushed it over the million dollar mark. That’s for single family right. CONDOS in the market, they have followed a similar trajectory. They’re up just over fourteen percent year over year and the current…
…medium price sits around five hundred and fifteen thousand dollars. Right. And again, that growth also par for the course from national real estate landscape, just up into the right. Like all real estate, mainland or not, properties are moving fast. Right, nine days. That’s the median days on March days on market metric for properties in the Honolulu area and with numbers like these you would expect a strong investment market. One thing that really stood out as an interesting metric is that only point six percent of sales are flips. Point six percent of sales or flips. The national average is six point eight, so it tracks well below that national average. Nonetheless, if you are doing a flip in that area, the profit is frothy. Average profit for a…
…flip in Honolulu is a hundred and FIFTYZERO dollars. Then national average is sixty five thousand. So you’re talking more than two x the national average for Roi. It’s massive and from my standpoint this is a admittedly a very small sample size observation, but from driving all over the big island you can see opportunity everywhere. There’s a significant amount of aged housing stock. So it’s not that it’s without opportunity. But a little bit later I want to talk about, you know, permitting right, so any downward trends, they are very interesting in our current red hot real estate market. One metric related to permitting down thirty two percent year over year. Right overall permits, Hawaii has some of the toughest building regulations in the country, no questions asked, and the average permit timeline. That’s three times the national average. Right to get a permit. I think it’s fair to say it probably takes nerves of steel to push…
…ahead. But again, the fruits are plentiful for those investors who do develop and flip in Hawaii. Again, the dollars are there, but the tradeoff is, you know, you have a bunch of volcanoes. Talk about that in a minute. And then the the timeline on it. Right. Housing regulation is very tough out. There a lot of good reason behind it. A report by the University of Hawaii Economic Research Organization and noted that by raising the cost of housing production and regulation reduces the supply of new homes leads to higher prices. Right, that’s a no brainer. They went on to say that regulation could be counterproductive if it places a large burden on developers. While we might prefer developers to provide large units with generous amenities at low prices, requiring developers to meet overly rigid guidelines is going to result in mini projects failing to go forward at all. Right, I think that’s part of the slowdown and permitting that, you see regulation base. But then you throw in global…
…supply chain and labor shortages and the fact that the islands are five or six hour flight from the west coast of the mainland. This year over year, downward trend really starts to make sense. But certainly not to be doom and gloom. Looking at the overall economy of Hawaii, pre pandemic unemployment was only one point six percent. Absolutely wild. You know that. That’s that’s below what economists generally peg as healthy unemployment. So that’s, you know, that’s an about positive range. Pretty Wow. As of February two thousand and twenty two, it was sitting at three point six percent. All right, that’s more than double what it was pre pandemic, but it’s still incredibly low, and I think you can rationalize that, given the fact that a substantial part of the Hawaiian economy is driven by tourism. I’d say that that shift kind of pre pandemic to today, it’s expected and really explainable. All right, this is something that was on my mind and this made for some interesting Uber driver conversation. To what volcanoes. I checked one thing off the bucket list.
While I was on the trips. Like seeing lava would have crazy thing to see in person, just this lava spewing out of the middle of the earth. It’s wild. So volcanoes. You can go to the volcano park on the east side of the island and you can see an active volcano, kilauea. My wife and I did that and I one hundred percent right recommend making the visit if you’re on the big island. Pro Tip dress for cold and rainy weather. Right it takes an hour and fifty minutes to go from the west side of the island all the way over to the east side where the volcano park is. And if you’re on the west side, eighty degrees every day, clear as a whistle, beautiful resort weather, right. And then you start driving east and about an hour in you see the temperature start to drop and by the time we got over to the volcano park it’s like high F S, rainy, wet. Suffice it to say I didn’t pack a bunch of cold weather gear for the Hawaii trip. So lesson learned there.
But kilaweya back the volcano piece right that they have an active shield volcano right there and historically. I read it’s one of the most active of the five volcanoes that together form the big island of Hawaii, our lava. Fun fact for the day on the PODCAST. What in the world is a shield volcano? And, courtesy of Wikipedia, the source of all knowledge, it’s a type of volcano named for its low profile, like resembling a shield that’s lying on the ground. It’s that makes sense. And another interesting piece about that type of volcano. It’s formed by the eruption of highly fluid, like low viscous lava, which travels farther and forms thinner flows than more viscous lava that forms from a strato volcano. No clue with that. Is probably less shield, more up, but travels farther. That’s the scary wording in the definition there for sure. So bringing this full circle back to real estate, how does this play in real estate? On one side, Hawaii is an…
…expanding state. Right I live in South Carolina. We are not producing any more land for South Carolina and it’s just not a thing Hawaii. Opposite Story. Right, volcano is create land and a lot of instances, so that’s how the chain of islands exists in the first place. Right, just volcano er options. However, what a concern that is. I grew up on the coast of South Carolina. Right, hurricanes were the threat, but you learned to live with them and you can often predict with a relatively reasonable degree of certainty the trajectory of a hurricane, the strength of a hurricane. Tougher to do that with a volcano. So how does this play with insurance? Right? And again a quick disclaimer. This is all anecdotal information, especially this insurance part, shouldn’t be taken as any type of legal or insurance advice, not remotely. This is purely observational. Go talk with the licensed insurance professional for ironclad details. But back to it. One thing, you have a volcanic eruptions a lot of times triggers a ton of earthquakes, right,…
…like the other way around, right. So that also throws a curveball into it. Right, you have to worry about earthquake insurance. But getting far off the scope here. Let’s set that aside and just focus on the eruption. Piece of lava. I did some digging and I landed on property. Casualty three hundred and sixty during the last round of life and property threatening volcanic activity Hawaii is insurance. Commissioner made it clear that in Hawaii if a home catches fire and it’s destroyed due to exposure to Malten Rock, it’s considered fire damage. Right. So think of lava coming close to your house and just the heat off of it triggers a fire. That’s a fire right. Almost every standard homeowners insurance policy is going to cover fire. So you’re good to go if that particular corner case is what ends up happening. But again, recent past shows that the devil is in the details and a slew of lawsuits…
…pop off every time notable destructive volcanic activity occurs because you really have to dig into the policy and what actually trigger this destruction. So most policies have explicit exclusions, especially in Hawaii, around volcano or lava specific occurrences. If you want to get a volcano like lava specific insurance policy, it is going to be very expensive, very, very very expensive. Again there’s the tradeoff. Generally, have a homeowner can prove that the heat from the lava flow that’s what triggered the fire, you’re covered and good to go. But again, most insurance policies on the island exclude it. So it’s tough. Most of the island is in a tough spot when it comes to insurance. Pune up, pony up pretty wild rates and cover a big if scenario or ride it out and take your chances. I mean that’s the that’s the cornerstone of insurance period. But the big difference here is that volcano matures is really expensive.
Like, I don’t live in a floods on I have flood insurance on my house just out of an abundance of caution, and it costs four hundred bucks a here. Volcano insurance very different story. If you’re in Hawaii. That’s a risk that you live with, so that’s something to consider as well. Neither option is terribly enticing, but it’s impossible to predict whether related events, and especially volcanic activity, over any decent length of time. So something to weigh there, whether you’re an investor or a homeowner there. So that’s all I have. It is a trek, but Hawaii is an incredible part of this country. The Ocean, the mountains, the forest, volcanoes, spectacular food and absolutely incredible people. It really has everything. So invest, visit, don’t be a stranger. Thank you so much for listening. Take care. Are you a real estate investor looking for the right lender that can findance all your deals and help you scale? Lima one capital has the best suite…
…of loan products in the industry, Barnet, whether that’s fix and flips, fix and holds, building new construction or buying rental properties. They have incredible financing solutions for it all. A reliable common since Linder is one of the most important parts of your investment team, and that’s exactly what you get with Lima one. Let Lima one capital show you how they’ve helped thousands of real estate investor scale and increase their wealth. Check out Lima onecom or call eight hundred two five, nine, Zero Five, N Ninety five to speak with the consultant and preparation for your next project. Thank you for joining us today on the real estate of things podcast. Subscribe and tune in weekly for new content from the industry’s best while we continue to unpack the nuances of this dynamic market. Follow US across social media for additional insights and analysis on the topics covered in each episode, and remember to rate, review and share the show.
Hello. Hello, Birmingham, Alabama. That is a market which was not really on my radar until a couple of years ago. It is exploding. Thomas Henry, vice president of investments at Stone River Company. He walked me through the why behind Birmingham’s growth. Also, what is up with the research triangle, the Raleigh Durham Chapel Hill area and North Carolina? Three hundred a unit? WHOA better? Be a great reason for prices like that and what is normally an affordable southeastern market. Thomas also pulled back the curtain on that for me. Thanks for listening. You’re listening to the real estate of things podcast. Welcome to the real estate of things podcast. I’m your host, Dalton Elliott, joined today by Thomas Henry, vice president of investments at Stone River Company. Thomas, thank you so much for joining my friend. Thanks for having a Dalton, appreciated absolutely so. You and I connected. By the time this episode Air’s we will have already knocked it out of the park, absolutely killed it. But you and I next week are going to be at crittenden multi family conference. We’re going to be on the opening keynote panel together, which I’m incredibly excited about. You also went to college at Coastal Carolina. Like go Shane of clear’s. I grew up in Merle’s inlet, so that school was twenty thirty minutes inland and went to football games growing up, whenever they got a foot Voul team. I can’t remember the coach’s name, the first coach there, but I’m sure it was a blast being down there. And you’re in Birmingham now. Yeah, I am. Yep, I’ve been in Birmingham or almost three years now. Got It. So walk me through your background, your vice president of investments of Stone River. Talk to me about how you landed in Birmingham and just your progression in your real estate career. Yeah, so, as you mentioned, went to Coastal Carolina for college. You know, kind of came into the real estate thing late. I was doing some investment banking internships and just happened to run into a CBRI re broker while doing an internship. Told me about real estate, so knew that was what I wanted to do at that point and then ended up moving to Nebraska of all places. My wife had gotten into Grad school out there, so I followed her out there and kind of walked into an analyst position for a Multi Family Investment Company. Worked there for four and a half years and then was approached about the position at Stone River and Birmingham, which that time I knew absolutely nothing about. Birmingham. Didn’t realize how many great real estate companies there are in town here. But yes, started there and I guess two thousand and nineteen and have been here ever since. What is going on in Birmingham? I feel like just before covid hit I started to hear Birmingham way more than I ever had in my super long seven years in the space race, and then throughout covid it seems to have continued to go…
…up into the right like a lot of markets, but Birmingham is just a name that I didn’t hear two thousand and fifteen when I got in the space as much. And then you fast forward to today and it’s absolutely blowing up, like what in the world is going on in Birmingham? That is is just making real estate something that’s tied to a rocket. Yeah, I think Birmingham just kind of embodies the same principles that make the southeast as a whole such a great market. You know, affordability certainly is high on the list on that one. I’d say Birmingham. Even within the southeast, which is known for being affordable, it’s very good affordability. So we’re seeing a ton of new developments, redevelopments, we’re seeing all sorts of real estate acquisitions going on here and in town. Actually, our office it’s directly next to courtland’s development that they did over the last couple of years. So good to see the growth of Birmingham every day when I get to the office. Yeah, for sure, is it? Is it? So I knew your focus is in the multifamily space. Is You know even I mean Greenville, South Carolina. Right. So a similar set up. Right, you have relatively low cost of living, although the costs from housing perspective is just going through the roof with HPA over the last couple of years, but so relatively high on the affordability scale. But you see multi family popping up all over the place. Like downtown Greenville is just building out multifamily, multi family, multi family. As you drive on the highway ten, twenty minutes outside of town, you see multifamily developments popping up. Is that kind of a similar set up? The T happening in Birmingham? Is it just multi family, new construction and Rehab all over the place? It is. It definitely is. You can’t drive to any specific area of especially downtown, and not see, you know, a new development that’s being worked on. You go outside of the city as well, to a little bit more of the suburban areas, it’s the same thing. There’s a lot going on there as well, which stone probably attributed to the work from home environment. I know my wife’s company are at least the division of that. My Wife’s is in and her company that’s been working from home this entire time and are not planning on going back anytime soon. So a lot of the people and hear division have started moving further out from, you know, the downtown area. Yeah, more space with the remote work life. That that seems to be the flavor everywhere. So talk to me about Stone River. What are Y’all doing? How long is Stone River been around? What’s exciting and going on there? For sure, yes, Stone rivers kind have gone through a couple of iterations. It was founded in one thousand nine hundred and ninety five to invest in real estate for a local family here, the Bruno’s family, and kind of did that for a while and, you know, a multitude of asset classes. At that point, around twenty six, team decided, you know, wanted to start…
…raising some investment funds and focusing exclusively on multi family. So that was when we raised equity from just some high net worth individuals, mostly around town here, for our first fund and filled that up and are actually in the process of exiting the last couple of deals and that fund and then this past summer, so about a year ago, finish the raise on our second fund. We’ve put two deals into that so far, with a third on the way. And Yeah, so finishing up our second fund preparing to start raising for our third fund. The third funds going to be a little bit different, going to a lot more institutional investors rather than primarily high net worth. Not to say we won’t have high net worth as well. We’ll keep those people. We have incredibly high turnover from or attrition rates from one fund to the next. So definitely people that were in fund one wanted to be in fun to and expect the same thing here for fun three. Got It. And what types of deals you’re all scouting out? Is it you doing multi family construction, value add what’s on the docket. It’s pretty open. We like to be opportunistic, so we can do value add deals at our S or newer core plus and core, and then up to thirty percent of the fund can be development as well. So we’re it will do a little bit of everything, focusing on the southeast, inclusive of Texas, so that adding in Texas there opens up a lot of opportunities. Texas is just, I guess Texas has always been a heavy real estate market, but over the last couple of years even more so, just exploding with the in migration they been seeing there. Yeah, it’s absolutely wild and we my day job at lemorean capital. We’ve been in Texas as long as I’ve been here, since two thousand and fifteen before, and there’s we can just never get enough. Always try to continue to build and branch into new markets and Texas because it’s very, you know, like other places, I guess, you have a lot of different major MSA’s and it takes takes a lot of work to break into those, least from the Linden perspective. What markets in the southeast outside of you know, let’s take Texas off the table, Take Birmingham out what other cities in the southeast have your attention. So we have had a lot of success and Chattanooga and Knoxville and Tennessee one of the deals and fun to right now is in Knoxville. And then we did a one off deal two years ago and then just sold at this last year in Chattanooga and did extremely well. So those are definitely markets of interest. But you know, Tampa, Orlando, CHARLOTTE, Raleigh, although Raley at this point has gotten so outrageously priced it’s hard to make anything work there. Raley’s interesting. I was there.
I interviewed when I was in college for a fellowship in Raley and just that was the research triangle like absolutely crazy in the development that’s going on there. That how’s it going on there? Yeah, trying to make it like the Silicon Valley of the East. I think that’s the ultimate, ultimate goal. Do you have y’all done any deals in Raleigh? We have not. We’ve been looking, I feel like once once to your point, I silicon valley once apple announced their big expansion there. I think that was last year, maybe the year before. Things have just gone absolutely hay wire where you know you’re seeing s vintage deals over three hundred unit on acquisitions and it’s just like how do you make that Pencil from an acquisition standpoint? And you know, keep the conservative and they say you need to make sure you’re able to hate your returns, but I would imagine from your perspective as well, I don’t know, Ho how people make those pence alout. Definitely a higher risk proposition. Are you putting a lot of eggs in one basket? On one kind of kind of in a way, one hope that everything pains out there and it you know, has a a lot of markets that the Microsoft’s the TESSLA is the go down the big tech lists. You know it’s paid out so far, but it’s it’s a unique risk added. I will say Raleigh and Austin are two markets that are starting to feel much more senter to each other then I would have ever expected. If I was going to be more aggressive and push for something, it would probably be those two markets just because the growth that we’re seeing there. I don’t think he’s going away anytime soon. Okay, that’s interesting. So as wild as Austin real estate has been right, that’s that’s Austin has been the headline capturing city for all of Covid I think if from May last year. I’m sorry this is a little dated, but a metric that’s stuck in my head for May two thousand and twenty two, two thousand and twenty one, something like thirty five or thirty six percent. You’re a real HPA, insane and not yeah, no sign of really materially slowing down, but you’re you’re still bullish. You think that everything’s good and legit with that growth and it’s just going to continue. Probably, you know, not at thirty five percent. You’re over a year over year, but still bullish on continued growth there. Still Bullish. I mean I think it’s inevitable that there’s going to be growing pains associated with how quickly they’ve been growing. What, from my strength of market stampoint? Yeah, I don’t see that going away here in the mid one term. Got It. I’m actually I’m going to be in Austin for the first time after you and I are at crittenden. So I’ll I’ll scope it out. I’ll let you know if I see anything, any signs of slow down. As I’m peeking around the city now. It’ll be my second time the first time I was there was for another conference, but the conference was half hour outside of the city,…
…so I’ve plopped into the Austin airport and then was out and kind of a quick out and back, so it didn’t really get to enjoy the town. But this will be a personal trip after the work hey, the awesome airport has some of the best breakfast takers. Really, you’ve caught my attention. I’m a fan of having it sounds like you travel a decent bit. I travel a decent bit and you find your happy spots in different airports. My Courtney Newman’s, who’s also going to be on the panel with us, I traveled a ton with him whenever I started at the company and he put me onto piece of cake in Atlanta at heartsvill Jackson. Pretty sure it’s an a terminal and just absolutely the worst thing he could have done, because when you’re traveling you’re already like you’re eating out all the time. Workout schedule is like. Hopefully make it work. I try to run whenever I travel. If I can set up my schedule perfectly. When I travel for work, it’s get off the airplane, go to the hotel, drop bags, go for a run, shower and then start what I’m doing. And it’s such a fun way to get into a city that you’re not in often or never been to and just like just put music in and just start running around. So yeah, all of that. I’m trying to be a good boy over here, and then courtney puts me onto piece of cake where they just have you just close your eyes, pick one and it’s going to be some of the best desert you’ve ever had. So Breakfast Tacos in Austin, I’m to give that a shot, or at Austin airport. All right. So I have a a pointed question here for you. What is the worst deal that you have been a part of? Tell me, tell me all the bad and ugly of it. I guess I would say I don’t know if it qualifies as a worse one of the hardest deals that I’ve ever had to do was in a very, very tertiary market in Texas and I had a half contract associated with it. So going out there and doing the least file at its and the unit walks was a completely different experience than anything else I’ve ever done. I just remember, you know, the files were an absolute mess. So it was taking like four times as long to go through the least file at it, missing documents and everything. I remember. We finished it up, we got back to the office and they came to me and they’re like, Hey, you’re going to need to go back out there, probably in a month or two and knock on a door and re verify incomes because they haven’t been doing it. We’re in violation of the half contract. And I’m just remembering like doing the unit walks, like they were not happy you were there, like we were being barrated, and so the thought of having to go back and knocking a door and say, hey, how much money do you make, was not a fun proposition. And it just happened to a line with when I was interviewing at Stone River, and so they brought me out to birming am, we went to dinner and the guy was interviewing…
…with told me at the end of dinner. He’s like, look, we’re gonna hire you, and the first thing I said was man, if you can get me out of there before I have to go back and re verify incomes at this problem with a half contract, like I’ll be there in two weeks and you know, I was in, like I said, Nebraska at the time. So he took me up on that. So I I had to get my house up for sale and get out to Birmingham two weeks after I gave notice to the day. So you know, ultimately I think the deal will be a successful deal, but for me personally that was a an interesting one that you know, I don’t look to do ever again. Hopefully. They ran you out of the state, Thomas Henry. They did start talking to a bunch of Nebraskas and they said note to get out of here, get out of here. Yeah, between that and the cold, I was ran out of the state. Growing up in the southeast, I was not there for the winters. I feel you. Like I said, I grew up on the coast of South Carolina and actually we had in January, I mean Greenville in the mountains now and grow up the coast. You would get snow, which is like a little bit of slushy ice on the ground, but nothing, not real snow, and we had six or seven inches here on mlk day this year and I was just never seen this much show in my life. I’M A relatively decently traveled human being, but I just haven’t gone to a cold places. Try to go to neutral or warm places, but I bet Nebraska’s pretty cold. What what’s the Chicago or Chicago as a couple months out of the year where I could exist? Otherwise I would live in Chicago. I Love Chicago. My wife, then then girlfriend, now wife, we went there when we were in college for a trip and we were talking about it like Chicago’s Great Love Chicago, and it was checking all the boxes. And then we got to the weather conversation and talked with a couple of friends who like in college, who are from Chicago and they just give you the nobs answer on the winters and you’re like you have you like an eightmonth winter here. Effectively, I can’t. I can’t do it. The up state of Greenville gets too cold for me a couple months out of the year. So I don’t think I would. I don’t think I would be able to exist in a Chicago. So Nebraska sounds pretty chilly. So I lived in Greenville for a while growing up and when I went to college my parents actually move from Greenville to Chicago. So I spent a winter there one one year while in college. It’s not for me. I Will Chicago, just like you said, but I just can’t do the cold I was in Chicago was a little worse than Nebraska, just from you know it is aptly named the windy city. That just makes it so much worse. Yeah, it cuts. I the last time I was there was probably October and November of two thousand and nineteen, and I did I got in at…
…night, so I went for a run in the morning and the sun was up. Was staying right downtown, so went through the park. Had A great time, but I was getting whipped around. I mean I’m almost if I’m soaking wet, I’m a buckety and running around that city just, you know, getting slapped around with the wind. That’s aggressive. So if we, if we solve Chicago’s winter, then I’m a fan. I’ll move off their heartbeat. Until then, I got to stay. I gotta stay Greenville or South. I can’t go any further north. I can’t go to Charlotte, I can’t, I can’t. I can’t go any further north. It’s too too cold here, as is greed. It’s a great place to me. It is. It’s wonderful. I came up here for College in Two Thousand and eleven and the development that’s happened here is absolutely insane. You know, part downtown has grown so much that, you know, you go six blocks south of our office, our office is kind of smack DAB in the middle of kind of the prime part of Main Street and if you go six or eight blocks south of us there’s an old army navy store that’s on the corners kind of a wellknown, been there forever spot and that used to be one of my closest friends grew up here and he’s like that’s the spot that growing up like, you didn’t go south of of there, you just never did. And now just exploding development, tiptop restaurants, housing is going off, new construction everywhere. The growth has been absolutely crazy. HPA has been wild like in most places and it all feels right and legitimate, though when I got here there were just a the restaurant scene has changed tremendously. You know, from I guess at this point ten eleven years ago to today. The events. I’m work with the humane society here in Greenville a lot and we’re doing the Mut Strut this weekend and we’re going to have I think, a couple thousand people with dogs out, so it’s just a fun great city. It’s a great home base. Right, you’re an out within an hour and a half. You have Asheville and Charlotte. You have three hours to Charleston, two and a half hours to Atlanta if you don’t run into any traffic, and then I fly delta. So I have to you know, almost no nonstop flights for me out of Greenville, but it’s a twenty five minute flight to Atlanta and then you can go anywhere in the world. So my wife and I love Greenville as a home base. I don’t sell you on Greenville. You’ve lived here, you know the the benefits. But yeah, it’s a great spot and you gotta let me know next time you’re in town and I’ll I’ll hit you up when I get the Birmingham, which will absolutely be sometimes sooner than later. I got to get out there and see what all the hubbub is about, for sure. Beautiful, Thomas Henry, thank you so much for joining me, my friend. Looking forward to seeing you next week on the panel. Yeah, thanks for having me, we’re sure. Thanks everybody for listening. Take care. Are you a real estate…
…investor looking for the right lender that can finance all your deals and help you scale. Lima one capital has the best suite of loan products in the Industry Barnet. Whether that’s fix and flips, fix and holds, built a new construction or buying rental properties, they have incredible financing solutions for it all. A reliable, common since lender is one of the most important parts of your investment team, and that’s exactly what you get with Lema one. Let Lima one capital show you how they’ve helped thousands of real estate investor scale and increase their wealth. Check out Lima onecom or call eight hundred two five, nine, Zero Five, N Ninety five to speak with the consultant and preparation for your next project. Thank you for joining us today on the real estate of things podcast. Subscribe and tune in weekly for new content from the industry’s best while we continue to unpack the nuances of this dynamic market. Follow US across social media for additional insights and analysis on the topics covered in each episode, and remember to rate, review and share the show.
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