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From Real Estate Investing to Creating a Home With Purpose · The Academy Presents podcast

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  Did you know that 90 % of the world's millionaires
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  invest in real estate? Well, I'm Angel with the
• 0:09
  Academy Presents Real Estate Investing Rocks,
• 0:11
  and I'm here to help you if you want to go for
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  your piece of that pie. Are you new? Are you
• 0:19
  new to this and you just don't know where to
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  start? It's okay. Are you someone that has invested,
• 0:25
  but you feel stuck, you feel like you've lost
• 0:27
  momentum, you don't know where to really head
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  from here? Are you a seasoned real estate investor
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  who is doing great but maybe you just want to
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  hone a few skills here and there? This is the
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  place for you. The Academy Presents Real Estate
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  Investing Rocks podcast will connect you with
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  industry experts so that you can save time, avoid
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  costly mistakes, and begin living the life you've
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  dreamed of all through real estate investing.
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  You're already taking the first step. just by
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  joining us here today. Now I agree like the house
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  we have in Lubbock we bought it in 2003 and I
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  don't even know we got it for 55 or 65 ,000 it
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  was a hill it was built in the 1970s. It's a
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  322 it had a huge backyard right outside the
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  loop which in Lubbock if you're inside the loop
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  I guess it's more ideal than if you're outside
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  the loop there's all these little weird nuances
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  there but um it's been a good house. And last
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  I heard the tax value on it was well over a hundred
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  thousand now. And yes, we've had it 20 years,
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  but still. We didn't do anything really. Um,
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  we lived in it when it still had shag carpet
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  and all sorts of atrocities. Um, after the make
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  ready, it was nicer than it ever was when we
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  lived in it. That's great. There's been some
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  updates like to some, it's, um, the bigger, thicker
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  commercial tile we put. Throughout the kitchen
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  and the entryway and I think we've done some
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  LVP in the bedrooms. Um, so we've, we've been
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  continually upgrading it over the 20 years, but
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  not 50, 60 ,000 worth. Um, and so it's appreciated
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  over time and we've cash out refied it. I don't
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  know, three or four times. That's awesome. So,
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  no, that's, I don't, I don't know that we'll
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  get rid of it. You know, there's no, there's
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  no paying points, no reason to, you know what,
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  just, um, And that cashflow pays for, you know,
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  someone's college or, you know, it pays for your
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  retirement, you know, so passive income is always,
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  uh, always a positive in my eyes for sure. Well,
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  and we always figure like if our girls decide
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  to go to Texas tech, it's, it's a three bedroom
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  home. They can live on the master suite side
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  and rent out the other two, the other two bedrooms.
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  Um, so. there's already a house there and I really
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  feel like wherever they choose to go to college
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  if they choose to go to college for us it makes
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  more sense to buy a house there and or even a
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  duplex tri or quad and have them live in one
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  unit and rent out the other ones or live on one
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  side of the house and rent out the other sides
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  of the house I mean it's are they the rooms there's
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  a lot of options there and for us it makes sense
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  and if the girls at that point in time have money
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  to invest on their own they can put their own
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  money in the house and get to see how that return
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  works for them so it's um yeah it's a work in
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  progress but the houses we have here in which
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  fall falls we've had for a long time too no that's
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  great that's a great yeah i think it is too and
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  like for the ones here i think we've had two
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  for like i don't know over 10 years and then
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  the last two we've had a couple of years now
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  but the last two came in a portfolio and we'd
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  never done a portfolio purchase. And that was
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  neat. It started out five houses, but the guy
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  kept selling them out from under us. And we were
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  like, dang it, quit selling the houses. We wanted
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  to buy all five. And we wound up getting two
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  for like 110 ,000. And so the mortgage on them
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  is super low and they cashflow amazing. That's
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  great. So those are our youngest two investments,
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  I guess. You know what, that's great. The things
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  I invest in, I wish I could say everything's
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  100 units and up. It's not. I mean, it's all
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  relative and sometimes you just got to take what
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  the market's giving you. And if it's a house
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  that makes sense and it doesn't take a lot of
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  your time away from your main focus, why not?
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  So I think, I think it's all relative of the
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  size. I mean, I don't think everything has to
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  be 150 units or 350 units. I think you could,
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  you know, in my last couple of purchases were
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  13, 20, 12, you know, so would I like bigger?
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  Yeah, you know, I would. And, but they're sort
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  of in the location of some other properties I
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  own. So it just makes sense. You know, we've
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  got, we've got some economy. economies of scale
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  with management. So that works fine. And, you
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  know, it works. And that's sort of one of the
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  things I've been working on this year, actually
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  last year, this year, is I'm really looking for
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  strategic partners in areas that I'm not in.
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  And, you know, you can't be everywhere, but I'd
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  like to have some boots on the ground in an area
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  that I like the you know, the fundamentals of
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  it, you know, the job growth and diversification
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  and, you know, people moving in state and all
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  that good stuff. Unfortunately, Illinois is not
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  one of those. So which is where I live right
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  outside of Chicago. So I'm looking in the Midwest,
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  I'm looking in the Southeast for opportunities
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  that that makes sense. And, you know, if you
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  have a partner there or if you got boots on the
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  ground, you know, they've got skin in the game.
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  And, you know, it's I think it's a win -win.
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  And that's one of the things I'm mainly I'm really
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  focusing on right now. Yeah, absolutely. And
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  to kind of move a little bit here, I'm really
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  glad that we have the residential experience
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  that we have because one of our big overwhelming
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  why is really our son and with him having a rare
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  genetic condition and then our daughters who
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  are typical that will one day have to take over
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  care of their brother. And so There's a lot of
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  moving parts within that also, but should Anson
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  ever reach a point of independence where he could
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  live in a group home setting, we want to own
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  the home. And so like we've got the residential
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  experience. We know how to buy a single family
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  home. We know how to look for the things it needs
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  to have. We know how to get the property management
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  in there. But when you add that group home part,
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  it adds like this whole different level. So it
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  makes it almost like a multifamily because you've
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  got like a business in there too, except that
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  you're also adding in like medical and insurance.
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  And you know, you might need a CNA. So that's
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  like your certified nursing assistant, or you
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  might need an LVN. So your vocational nurse or
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  even an RN, those are your registered nurses.
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  So there's all of these layers of what can get
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  involved. And I know that you've done something
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  similar to that. For your why, do you want to
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  talk about that? Sure. My why is my oldest son,
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  Ethan. And I get emotional as I'm even talking
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  about it, but Ethan also has a genetic disorder.
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  And Ethan just turned 30, so he is definitely
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  an adult. My wife and I are guardians for Ethan.
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  And our worry forever has been what happens when
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  we're not here. So my wife and I, we looked around
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  the country for various programs that work with
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  adults with special needs. And let me say this.
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  Ethan did go to some camps and he went to some
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  summer programs and did some school out state.
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  in Massachusetts when he was in his late teens.
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  So we did have sort of a background of what this
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  looks like, but more from a school aspect. And
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  then after school, when one turns 22, it's called
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  like the cliff that the government is not responsible.
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  They don't have to give you any more school related
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  help or programs. you're sort of on your own.
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  There is disability that one could get at that
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  age, but, you know, it's tough. So when our son
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  turned 22, we had things in order of looking
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  for a place for him to live, to thrive. And we
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  bought an eight unit apartment building a couple
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  of miles from our house. And right now we've
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  got nine young adults living there with special
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  needs. My wife, I'll give her the credit, because
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  I'm more the real estate side of it, but she
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  looked at programs all over the country. I went
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  to some as well. And we tried to take the best
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  of the best features from these programs and
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  tried to put that in our home. And we do call
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  it home because our young adults, who we still
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  call them kids, think it is their home. they
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  literally do. So we worked with an organization,
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  a local organization who works with the special
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  needs population who prior to six, seven years
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  ago was more like camps and day programs and
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  we were the first residential program and so
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  they help us with social recreational, social
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  recreation, job coaching, transportation, food
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  preparation for our kids. And it's worked out
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  great. I mean, nothing is perfect, but it's worked
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  out real well. My son, Ethan loves where he lives.
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  He's been there for six years. Our apartment
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  building, it's eight apartments. All two bedroom,
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  one and a half bath. And we've got a couple of
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  typical renters there as well. So it's not all
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  just our group. Some of our participants, our
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  residents, there's two to an apartment. Some
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  we just have one. It just depends on the situation.
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  And we do have... Our staff, it's a company called
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  Keshet, they're in Northbrook, Illinois. They
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  oversee it and it's worked out real well. It
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  helps with their independence. All our kids either
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  work or volunteer from like mid -morning till
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  early afternoon, whether it's working at Home
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  Depot or working at local grocery stores. Some
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  of them volunteer at the library or at other,
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  you know, other, you know, they volunteer their
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  time in other ways for the community. So it works
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  out well. So, but on the time they're not there,
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  which is about five hours a day, we do have,
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  we do have staff there because our, you know,
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  our kids, their challenges, there's a wide range
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  of their needs. But it works out well. It's been
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  working out real well. And my wife and I are
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  happy to talk to anybody to explain what we've
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  done. Because we're trying to make the world
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  a better place. And fortunately or unfortunately,
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  some of us, some of our family members and friends
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  have some challenges that need that extra help.
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  And we like to help others. Wow. And that's,
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  I think it's really important because I think
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  what a lot of the typical population doesn't
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  understand is that 22 year old drop. Um, and
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  I think it, I think it's nationwide cause it's
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  the same here in Texas. Um, up until Anson's
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  22nd birthday, he'll have services. He can go
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  to school, um, after he graduates. So after his
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  senior year, cause he's an eighth grader right
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  now, which blows my mind. Um, After he graduates,
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  he can continue going. And I think it's still
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  with the high school event. Um, he'll continue
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  going to school and his birthday is August 1st.
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  So he'll go through his 21st year. Um, and it's,
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  it's hard because like you had someone basically
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  keeping your kid. with life skills and making
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  sure that your child is understanding like how
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  they're going to interact in the community and
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  all of those things and then all of a sudden
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  it's gone and maybe you're lucky enough to have
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  an arc in your community maybe you don't and
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  by arc i mean the organization not like noah
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  yeah i got it so i mean there's the the arc like
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  right now the arc has stepped in and they give
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  transportation to our son because um Jason and
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  I are teaching math at our girls school two days
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  a week in the morning from like eight to nine
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  twenty um and so the arc now comes and picks
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  him up from the school and it's so funny because
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  he just sits in the chair and I have my kids
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  doing like a bell ringer and then we put him
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  in the van to go to school and then I come back
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  in and we go to a different room and do the lessons
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  um But it's just funny because we have to pay
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  for that. And it's kind of wild because the school
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  system really should be providing the transportation,
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  but they will only provide transportation from
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  home to school and school to home. But it used
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  to be that they would supply the transportation
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  from Spectrum to the school. And we just had
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  to get Anson and Spectrum his ABA. So we just
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  had to get him to ABA and then the rest of the
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  day was fine. And then his ABA therapy moved
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  to a different building and transportation was
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  no longer offered. And then the pandemic hit
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  and we were fighting it. We had a lawyer from
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  disabilities rights that was helping us fight
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  it. And then the pandemic hit and somewhere it
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  got scooped under the rug and we signed something
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  and that was a done deal. But we're fortunate
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  enough to have an arc here and they are providing
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  transport daily they come and pick him up from
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  either the house or the high school of my daughter
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  where we are teaching at and then they take him
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  from his school um they take him from spectrum
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  to his school and then the bus brings him home
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  because again the school will provide transportation
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  between home and school but it's um it's just
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  really frustrating that the needs aren't thought
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  of um because there's not If you're not choosing
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  to stay in a poverty, like in a cycle of poverty
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  yourself, you've, you're going to have a job.
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  And so you're not going to be at home. And the
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  other thing that happens with transportation
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  in the special needs community is you may say
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  you're going to be there at eight 30 or eight
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  15, but if another person on the schedule is
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  having a meltdown or is having some kind of an
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  episode. whether it be epileptic or OCD or whatever
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  it is, anxiety, if something's happening, then
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  the schedule is going to be modified. And so
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  being on a schedule where all of the people that
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  are involved in the transportation, other than
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  like the driver and the assistant are in this
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  special needs community, nothing can really even
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  be set in stone. And so it's just like, holy
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  moly, it's hard. the people affected by special
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  needs and the families affected by special needs
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  in the United States is it's no small number.
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  There's a lot of families affected. And so it's
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  going to take people like you and people like
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  us and people out there that are speaking out
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  and providing services and providing residential
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  opportunities for people to really start to understand
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  that this isn't just one or two kids out there
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  in an entire state, it's full populations. And
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  we don't hide them in institutions anymore. They're
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  a part of the family and they're active parts
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  of the family. So there have been big changes
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  in the last 75 years.