Latest / Own More Doors / #75 AI, Rent Control & Cap Rates: Key Takeaways from the Long Beach Multifamily Summit

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#75 AI, Rent Control & Cap Rates: Key Takeaways from the Long Beach Multifamily Summit · Own More Doors

• 0:00
  SPEAKER_00: Hey everyone, so we just got done with our second annual multifamily investor summit.
• 0:04
  SPEAKER_00: I'm sure you saw some of our marketing and advertising out there, promoting our events.
• 0:08
  SPEAKER_00: So, what is a summit?
• 0:09
  SPEAKER_00: So essentially it's a conference that I'm putting on, Sage Real Estate is putting on, and it's a conference of getting together the community that we're building.
• 0:20
  SPEAKER_00: Who's our community?
• 0:22
  SPEAKER_00: Um multifamily owners, housing providers, landlords, investors, entrepreneurs, people who believe that investing in multifamily, investing in real estate, investing in income-producing properties, people who believe that that is still a very strong place to invest, a place where there's opportunity, and place, a place where there's growth.
• 0:47
  SPEAKER_00: And so six years ago when we started this YouTube channel, and and you know, I had long been selling multifamily before then, but that was kind of like the beginning of like my my idea of like I'm actually building a community.
• 1:00
  SPEAKER_00: And people were people who didn't know about us started following us, uh, people who didn't know of us now started working with us, referring us, using us, and we've been able to help them grow.
• 1:11
  SPEAKER_00: And we're growing along with them too, right?
• 1:13
  SPEAKER_00: Because I tell people, hey, what I preach, I do, you know, and we're we're out here walking the walk, and so we're out here investing.
• 1:19
  SPEAKER_00: So so the summit is a place where I want to get everyone together and I want to bring speakers who bring you value.
• 1:26
  SPEAKER_00: And so we had Jay Keller talk about um AI and commercial real estate.
• 1:32
  SPEAKER_00: And right now, Jay Keller is like a pioneer in the front in the forefront.
• 1:37
  SPEAKER_00: Uh he's got a collective that you could sign up for, and he's doing all the heavy lifting and teaching you how to use AI in the world of commercial real estate.
• 1:45
  SPEAKER_00: So it's huge.
• 1:45
  SPEAKER_00: He gave us a lot of great examples, things that I'm gonna be using.
• 1:48
  SPEAKER_00: And so AI is moving quickly, and yeah, we we we shouldn't be afraid of it.
• 1:53
  SPEAKER_00: We should work with it and um see how it's gonna benefit us, save us time, and just ultimately um deliver a better product to our clients.
• 2:01
  SPEAKER_00: And if you don't have clients, you're like, look, I'm just an apartment owner.
• 2:04
  SPEAKER_00: Um, it could help you analyze, it could help you um underwrite, tell you if it's a good deal, give you different scenarios.
• 2:12
  SPEAKER_00: And so there's a lot that it could do.
• 2:14
  SPEAKER_00: If you own an apartment building, you could take a photo of it and say, Hey, I want to um give me some renderings and I want to give this building a facelift, and then you tell it the style of facelift that you're looking for, it's gonna do that.
• 2:24
  SPEAKER_00: So, just some really cool stuff.
• 2:26
  SPEAKER_00: Um, we had we had obviously Christopher Thornburg speak, uh, he's an economist, he gave us his thoughts.
• 2:32
  SPEAKER_00: We had uh Dennis Block, eviction attorney, and he just gave us some warnings like, hey, it's smart to own apartments, but you gotta be smart about how you're gonna handle the tenants and things, do's and don'ts for there.
• 2:45
  SPEAKER_00: We had uh Gerald Dean Serrano talk about cost segregation.
• 2:49
  SPEAKER_00: We had a terrific expert panel where we had Phoebe, we had Cody from the office, uh, we had Brady who builds ABUs, and we had Mark Mike Osorio with FM Bank.
• 3:00
  SPEAKER_00: And so the event was to get everyone together, um, talk about the market, share stories, network, grow.
• 3:09
  SPEAKER_00: And you know, when I do these things, you know, at the end of the day, I'm like, well, I'm really an investor and I'm a broker that sells multifamily.
• 3:19
  SPEAKER_00: Why the heck am I having a conference?
• 3:21
  SPEAKER_00: It's super stressful.
• 3:22
  SPEAKER_00: It's like putting together a wedding, planning for a wedding.
• 3:25
  SPEAKER_00: It's a lot of work, and sometimes I wonder why I am bringing this extra layer of stress to my life because it's months of planning.
• 3:34
  SPEAKER_00: And leading into the event, I was thinking, okay, this is my last time I'm gonna do this, right?
• 3:39
  SPEAKER_00: Because this was my second annual.
• 3:40
  SPEAKER_00: When the event was said and done, the connections that were made, kind of the the value that we that we provided, uh people were telling me afterwards, like, hey, that was beneficial.
• 3:50
  SPEAKER_00: We we'd like this.
• 3:51
  SPEAKER_00: This was a speaker we liked.
• 3:52
  SPEAKER_00: We learned, you know, we made good connections there.
• 3:55
  SPEAKER_00: The sponsors we had were great.
• 3:57
  SPEAKER_00: And so it is a lot of work.
• 3:59
  SPEAKER_00: Um, but one of the reasons why we're putting on the you know the summit, this conference, is that we want to separate ourselves from other people who do what we do.
• 4:08
  SPEAKER_00: Uh, in commercial real estate and multifamily, there's a lot of multifamily brokers, and so um my my marketing consultant said, Look, Juan, um, no one else is doing this.
• 4:18
  SPEAKER_00: Now, there's other people in other markets doing it, but not in our Long Beach market.
• 4:22
  SPEAKER_00: He says, This is one way that you could stand out from the rest.
• 4:25
  SPEAKER_00: And so it was, I guess my takeaways it was it was tons of work, lots of planning.
• 4:31
  SPEAKER_00: Um, there's gonna be some changes for next year, but we're already securing, I mean, it hasn't even been a week, and we're already planning for next year's.
• 4:39
  SPEAKER_00: There was so much feedback from from our brokers in the office, from our sponsors, and and they're telling us, hey, uh, keep us in mind for next year.
• 4:47
  SPEAKER_00: We're gonna budget you in.
• 4:48
  SPEAKER_00: So I've I've been able to secure the sponsorship that allow us.
• 4:52
  SPEAKER_00: Uh, the venue we had it at, uh, 350 Pine V Ovation was amazing.
• 4:57
  SPEAKER_00: The audio visual was great.
• 4:58
  SPEAKER_00: And so if you did not make it to our first annual, our second annual, know this.
• 5:04
  SPEAKER_00: In February 2027, we're gonna have our third annual.
• 5:07
  SPEAKER_00: It's gonna be bigger, it's gonna be better.
• 5:09
  SPEAKER_00: Um, as we as we do this, I want to just like this YouTube channel that we have, I want to provide value.
• 5:15
  SPEAKER_00: How can I make how can I make the experience of you investing in multifamily better?
• 5:21
  SPEAKER_00: What can you learn?
• 5:22
  SPEAKER_00: Whether you use my services or not, what can we do to provide value?
• 5:25
  SPEAKER_00: And because what I've learned through all this is the more value I could provide, the more my business grows.
• 5:32
  SPEAKER_00: And so to me it's important.
• 5:33
  SPEAKER_00: Um, so stay tuned.
• 5:35
  SPEAKER_00: I know it's a year away, but I'm letting you guys know we're already planning for our our third annual multifamily investor summit.
• 5:42
  SPEAKER_00: Thank you guys for watching.