Latest / Go Big with Gib Podcast / Harmonizing Home and Property: Kate Irons on Family Life and Real Estate Ventures

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Harmonizing Home and Property: Kate Irons on Family Life and Real Estate Ventures · Go Big with Gib Podcast

• 0:00
  Speaker 1: Welcome to the Go Big with Gibb podcast, where we talk to professionals, business owners and entrepreneurs about their big wins.
• 0:06
  Speaker 1: Welcome to the Go Big with Gibb podcast.
• 0:17
  Speaker 1: Today I have a very special guest.
• 0:19
  Speaker 1: I have my beautiful wife, kate Irons, with us.
• 0:22
  Speaker 1: Kate, welcome to the podcast.
• 0:24
  Speaker 2: Yes, gib.
• 0:24
  Speaker 2: Hi, it's nice to be here.
• 0:26
  Speaker 2: I feel like everyone's been on the podcast with me, but I think also one reason I haven't been on is because I'm super busy.
• 0:33
  Speaker 1: Yeah, absolutely.
• 0:34
  Speaker 1: It's great to have you here.
• 0:36
  Speaker 1: Tell us a little bit about yourself.
• 0:38
  Speaker 2: I am from Garner, north Carolina.
• 0:40
  Speaker 2: I moved to Greenville to go to ECU.
• 0:41
  Speaker 2: I have a finance degree.
• 0:43
  Speaker 2: Gib and I have been married for about 11 years.
• 0:45
  Speaker 2: Our anniversary is coming up this week.
• 0:47
  Speaker 2: We have three small kids Anna Gibson, who is 10, miles who is 7, and Malene who is 4.
• 0:53
  Speaker 2: I handle all the day-to-day of the kids and schedules and all the things, and then I also manage all of our real estate properties.
• 1:02
  Speaker 1: I obviously know how busy that is.
• 1:05
  Speaker 1: Talk to me a little bit about you know what's it like having three small kids.
• 1:11
  Speaker 1: How do you handle all of that?
• 1:13
  Speaker 2: It's a little stressful sometimes.
• 1:14
  Speaker 2: It was a little bit easier when they were younger because nobody had like a lot of activities.
• 1:18
  Speaker 2: We weren't like full into school.
• 1:20
  Speaker 2: Malene was about six months old when, like COVID shutdown happened.
• 1:24
  Speaker 2: So I was at home with the three of them and so it kind of like slowed things down, which was really nice.
• 1:29
  Speaker 2: But right now I feel like things are like ramping up because you know Anna Gibson, she's in third grade.
• 1:36
  Speaker 2: Third grade comes with a lot of homework.
• 1:38
  Speaker 2: She's dancing, she likes to play soccer.
• 1:41
  Speaker 2: We've done basketball.
• 1:43
  Speaker 2: Miles, I feel like, doesn't have as many activities, but it's still a lot the shuffle, the shuffle from school, the bus and everything.
• 1:49
  Speaker 2: And then we have Malene who is, as we say, the spitfire of the family.
• 1:55
  Speaker 2: She is a little our wild one.
• 1:58
  Speaker 2: It's been great Like I do think that I'm glad we had the three.
• 2:02
  Speaker 2: It's a lot more work than two, which I didn't really always expect, but they all three love each other.
• 2:11
  Speaker 2: I know that you and I really wanted to have a bigger family because we wanted them to be able to have each other, and Malene's favorite thing is Miles coming home in the afternoon so she can play with him and just their friendship we have and I feel like that is what's made it worth it All the hard work and all the scheduling and making sure everybody has everything they need, which can be overwhelming sometimes, but I'm grateful that we have the three.
• 2:37
  Speaker 1: Yeah, me too.
• 2:38
  Speaker 1: I love the way that the kids love each other and play together.
• 2:43
  Speaker 1: You know, my experience has been that not all siblings like to play together like that and our kids really do get along very well.
• 2:50
  Speaker 1: And Anna Gibson's a great big sister and she really is a good influence on the other children most of the time and they all help each other.
• 3:01
  Speaker 1: I feel like you know Miles will help Malene with things that she can't do but she wants to do, and Anna Gibson will help Miles From an organizational standpoint.
• 3:11
  Speaker 1: Talk to me about that.
• 3:12
  Speaker 1: I know you have a calendar at the house.
• 3:16
  Speaker 1: It seems to me that you carry it around with you all the time and you're always writing everything down.
• 3:23
  Speaker 1: How important is it to you to write everything down in that calendar to keep track of things?
• 3:28
  Speaker 2: So the calendar I mean I use a traditional paper calendar it's set up for moms and has spaces for each kid on each day and it has space for dinner and all the things that helps me stay really organized because, you know, with all the activities, activities.
• 3:44
  Speaker 2: So I do think making sure everything is written down and like checking it every day and making sure that I have everything that I need you know is necessary, I would not be able to get along without the calendar.
• 3:56
  Speaker 1: I don't do great at keeping everything in my phone, so this is like the best way to handle it just out of curiosity, why did you choose to have like a paper calendar, like an old fashioned paper calendar that you can hold in your hands, as opposed to keeping it on the computer or some sort of electronic device?
• 4:15
  Speaker 2: I think for me I like to see it in paper, like I can sit down and I can like make other schedules off of it, and I feel like a lot of times, like if the kids have like an activity and they need new dance shoes or I need to order food for they bring in snacks to soccer, that kind of thing I can use my phone, order all the things I need and if I'm looking at the calendar on my phone I'm having to switch back and forth and for me it's just a lot easier to have the paper calendar and I also can write notes down, like for appointments, and it's just a little bit.
• 4:45
  Speaker 2: I like it better.
• 4:46
  Speaker 2: It's not for everybody.
• 4:47
  Speaker 2: The one I have is a mom agenda and so it's made for moms and so it's perfect for my needs.
• 4:53
  Speaker 2: I've had the same one for probably a couple years.
• 4:56
  Speaker 2: Definitely recommend.
• 4:58
  Speaker 1: One of the things that you've done for me that I think is just so incredible is you will oftentimes send me an agenda and it could be out.
• 5:10
  Speaker 1: You know, I know we've got a shared note in our iPhones and you will send me all the important dates for this month and the next month and maybe even, you know, sometimes even all the way through the end of the year.
• 5:24
  Speaker 1: Yes, you know what's your thought process behind that.
• 5:28
  Speaker 2: Well, that is more of like trying to show like here are kids' school breaks, so we can plan like vacations around that, and also like to keep you updated on what's really going on, like Anna Gibson's doing three overnight camps, so you know when those are, when we're going to be at the beach, you know like that kind of stuff, so we can kind of like be on the same page of this is what's going on with the kids, since I'm with them all the time, you know, and so keep you updated and so you know.
• 5:55
  Speaker 2: Hey, here we have vacation time over here, or you know summer camp, or they have we have a doctor's appointment, that kind of stuff, just so we can kind kind of be as organized as possible, because I feel like the more we're organized or the more I am, things go a lot smoother for the children with all the transitions that we have.
• 6:13
  Speaker 1: Another thing that you do to help support me is you know, I really don't like to eat out at all.
• 6:20
  Speaker 1: If I can avoid it.
• 6:21
  Speaker 1: My preference is that I have food at the law office that I can eat throughout the day without having to leave the office, and so one thing that you've helped me with is like meal preparation.
• 6:34
  Speaker 1: Although sometimes I'll cook my own meals, a lot of times you'll cook them for me.
• 6:40
  Speaker 1: Tell me about that, like, how do you plan those things to help me so that I can stay at the office and focus on work?
• 6:48
  Speaker 2: So a lot of times I feel like I'm planning.
• 6:50
  Speaker 2: I plan every Sunday what we're going to have for the week to eat.
• 6:53
  Speaker 2: Make sure, like, do the grocery run and pretty much out, order everything and do a pickup or have it delivered.
• 6:59
  Speaker 2: I mean, with three kids you just can't spend all your time in the grocery store and I don't want to.
• 7:03
  Speaker 2: So that part is really nice, that we're able to do that.
• 7:07
  Speaker 2: But I just try to also add in what you're going to need for the week on with food.
• 7:12
  Speaker 2: I'm grateful that you do like to eat the same thing all the time, so I just have to have the same like 10 things.
• 7:18
  Speaker 2: That makes it super easy.
• 7:19
  Speaker 2: But just try to like plan ahead.
• 7:21
  Speaker 2: I feel like being a mom of three kids, all you have to do, you have to plan.
• 7:24
  Speaker 2: You can't just be out there winging it, because when I'm winging it, things don't go like they need to or people don't have food, and I feel like the worst part is definitely for you.
• 7:34
  Speaker 2: But our kids are kind of the same, as if there's no food, we are hangry, and so just trying to keep that together and just plan ahead.
• 7:42
  Speaker 2: I probably most of the time are cooking dinner at noon and just put everything in the fridge or have it in the crock pot.
• 7:50
  Speaker 2: I have to try to do it at five, when people are trying to take baths or we're trying to finish homework, or kids are not even there because they're at dance or soccer or wherever, and so that makes things run smoother.
• 8:01
  Speaker 2: So kids are going to bed on time.
• 8:04
  Speaker 2: I feel like you and I have made that bed on time a priority.
• 8:07
  Speaker 1: Yeah, I definitely think one of your biggest strengths is being super organized and planning, and I think when I've talked to other friends of mine and I tell them you know the level of planning that you do to keep the house running and to keep everybody fed and all their activities you know are scheduled and to be there on time, I think that's pretty surprising to most of my friends are like wow, so like Kate prepares meals for you to take to the office, and you know, that way I don't end up getting really hungry and having to eat something that's not healthy for me or being, you know, in a position where I don't have time to eat because I'm so busy at the office, and I definitely think that level of planning has allowed me to get more done at work.
• 8:54
  Speaker 2: Yes, so it's definitely like you might be the one like at the office, but there are things I'm doing, like I said, like behind the scenes, that are helping you succeed.
• 9:03
  Speaker 1: Yeah, I feel like that's a huge advantage for me.
• 9:05
  Speaker 1: You know, when you compare me to other people, like whether they be lawyers or real estate people, one of my big advantages is is that we've done a lot of planning advanced planning and I've got my week mapped out.
• 9:20
  Speaker 1: I know what clothes I'm going to wear.
• 9:22
  Speaker 1: I know what clothes I'm gonna wear.
• 9:23
  Speaker 1: I know what food I'm gonna eat.
• 9:25
  Speaker 1: It's all planned out to maximize efficiency, and efficiency is another one of your your strong suits, like um we're gonna efficiently do everything, so you have to plan for it.
• 9:36
  Speaker 2: It's also like if I'm doing things efficiently, I'm controlling controlling my own chaos, the chaos that the kids come with, I mean.
• 9:43
  Speaker 2: A lot of times things pop up for me and so if I'm planned in advance the things that pop up, I can handle and manage a lot easier.
• 9:52
  Speaker 1: So what would you say are your biggest priorities in terms of raising the kids?
• 9:57
  Speaker 2: I think a big one is I want them to be kind.
• 10:01
  Speaker 2: Like I kind of feel like you're just not raising them to be smart or the fastest, the best at something.
• 10:04
  Speaker 2: I want them to be kind, like I kind of feel like you're just not raising them to be smart or the fastest, the best at something.
• 10:07
  Speaker 2: I want them to be kind.
• 10:08
  Speaker 2: I feel like we're trying to raise like kind humans, people that are going to be nice and respectful and, you know, because I feel like you need those things as an adult, you want to teach them in small ways to how to learn to talk to people, because I want them you know when they're not with me to, you know, be ready to be adults, and I feel like teaching them to get there is main.
• 10:30
  Speaker 1: Yeah.
• 10:30
  Speaker 1: So I heard somebody say recently that one of the biggest compliments that they could ever get is having another adult tell them that their children are so such good kids.
• 10:41
  Speaker 1: They're so well behaved, so respectful.
• 10:44
  Speaker 2: It is a really nice compliment when you get that from another adult and they like see, I get it a lot from Anna Gibson, anna Gibson's 10.
• 10:51
  Speaker 2: I mean, she's like 10 going on 25.
• 10:53
  Speaker 2: She, you know, engages with people, she wants to have a conversation.
• 10:59
  Speaker 2: And so a lot of times I do get that about Anna Gibson, about how she treats younger kids.
• 11:04
  Speaker 2: And so a lot of times I do get that about Anna Gibson about how she treats younger kids, how she always wants to be a big helper, how she is kind to everyone, and so like, when people do say that I'm like, oh, fantastic, makes me feel like I'm doing what I'm supposed to, like I'm really, really trying so hard and it's paying off.
• 11:20
  Speaker 2: I got a compliment the other day about Malene.
• 11:22
  Speaker 2: We were at a school function.
• 11:24
  Speaker 2: She couldn't find me.
• 11:26
  Speaker 2: She was with Miles.
• 11:27
  Speaker 2: She found an adult that she knew she and asked them.
• 11:30
  Speaker 2: She said, can you please help me find my mom?
• 11:32
  Speaker 2: I mean, she's four and I feel like that was like a great and the parent was like I couldn't believe that.
• 11:37
  Speaker 2: She like thought you know, find somebody, you know go and tell them what you're looking for, like ask for help.
• 11:42
  Speaker 2: And so I feel like you know, I'm like things are clicking.
• 11:46
  Speaker 2: All the hard work and like really trying is like really working out.
• 11:50
  Speaker 2: I love the the compliments.
• 11:52
  Speaker 1: It makes me feel like I'm the work is paying off so, um, you know, because we have three children and they're in three different places at the same time, we oftentimes have to have babysitters that help out.
• 12:04
  Speaker 1: What is it that you look for in hiring a babysitter, like when making that decision of, like you know, bringing them into our household and entrusting them to care for our kids when we're not around?
• 12:18
  Speaker 2: I look for somebody that can handle three kids.
• 12:20
  Speaker 2: They have to have some kind of like background of babysitting.
• 12:23
  Speaker 2: We live in, you know, like you know, we live in a college town and so there's always a good college girl.
• 12:28
  Speaker 2: But they graduate.
• 12:29
  Speaker 2: They cannot going to stay forever and a lot of times they do have recommendations of friends and that's super helpful.
• 12:35
  Speaker 2: I mean, and a lot of times they do have recommendations of friends and that's super helpful.
• 12:39
  Speaker 2: I mean, we have a sitter a lot every afternoon because of different bus pickups, kids have different activities.
• 12:44
  Speaker 2: Also, I want to spend one-on-one time with my kids and so a lot of times like I have a sitter, play with the other two and I'm doing homework with one or we're going on a bike ride with one, because you're one of three, it doesn't mean you have to do everything together and I want the kids to be their own people.
• 13:00
  Speaker 2: You know, and that was like a.
• 13:02
  Speaker 2: I feel like a lot of times when you have like three kids, they all do the same thing and like they have to do it together and I feel like them being their own people is important.
• 13:13
  Speaker 1: This episode of Go Big with Gibb is brought to you by Irons Equity.
• 13:17
  Speaker 1: At Irons Equity, we help investors like you create long-term generational wealth and save money on taxes through recession-resistant real estate investments that create passive income for you and your family.
• 13:29
  Speaker 1: If you want to secure your financial future, contact us today at investwithgibbcom to schedule a 30-minute introductory meeting with me.
• 13:36
  Speaker 1: Gibb Irons Again, that's investwithgibbcom.
• 13:37
  Speaker 1: To schedule a 30-minute introductory meeting with me.
• 13:38
  Speaker 1: Gib Irons Again, that's investwithgibbcom.
• 13:41
  Speaker 1: Let's get back to the show.
• 13:43
  Speaker 1: Sure, if you had to, just for fun, if you had to guess the occupation what the kids are going to become what would you guess?
• 13:53
  Speaker 1: Let's start with Anna Gibson.
• 13:54
  Speaker 2: Okay.
• 13:55
  Speaker 2: So like Anna Gibson, I could see her having like a podcast, like for sure She'd be some kind of influencer or something.
• 14:00
  Speaker 2: She's like pre-teen right now.
• 14:01
  Speaker 2: We're into all the things, like she wants the Lululemon, all the skin, you know the skincare, the smelly stuff.
• 14:08
  Speaker 2: She's real girly, so maybe that.
• 14:10
  Speaker 2: Or she said that a hairdresser I mean I think I could see any of those things.
• 14:15
  Speaker 2: I mean I definitely.
• 14:16
  Speaker 2: I mean she says that she would.
• 14:24
  Speaker 2: I mean she wants to be a mom, and so I feel like that's good.
• 14:26
  Speaker 2: And then Miles, he wants to be let's play video games.
• 14:27
  Speaker 2: Miles is a more of a video game kind of kid and so he wants to play video games for a living and I think I mean, honestly, he would probably be great at it.
• 14:34
  Speaker 1: I heard him say that he wanted to be a gamer, but when he came on the podcast he said that he was going to make snow globes.
• 14:41
  Speaker 1: I don't know if you heard that.
• 14:44
  Speaker 1: But he actually said you know, maybe I'm going to be the person that he said you know those things that you get in the winter, that you shake them up and the snow comes out.
• 14:54
  Speaker 1: And we were like, yes, snow globes.
• 14:55
  Speaker 1: He said, yeah, I think I'm going to be a snow globe maker.
• 14:58
  Speaker 1: And so that was interesting.
• 15:00
  Speaker 1: I could see Miles being an engineer or something like that.
• 15:03
  Speaker 1: He's got a very technical mind and he likes to see how you put things together and how you take them apart and how things work, and so I think he's got the mind of an engineer.
• 15:13
  Speaker 2: I definitely agree with that.
• 15:14
  Speaker 2: We were at a friend's house yesterday and they have a record player and he'd never seen one before and he wanted us to explain to him how it works and like what part goes where, and like he was really intrigued with it and so a lot of time I do think that he, um, an engineer would be a great fit for him, but also, like he loves graphic novels and so like he also draws his own books and so like and makes books like with sonic, and so I feel like he could be a cartoonist.
• 15:45
  Speaker 2: That would be a really cool job for him.
• 15:46
  Speaker 2: Um, his love for reading has flourished and so that would be a really neat.
• 15:52
  Speaker 2: I could see him definitely going towards that.
• 15:55
  Speaker 1: Yeah, I could see him being a writer or a graphic designer or something like that and more like of an artistic type, of a field.
• 16:03
  Speaker 1: What about Malene?
• 16:04
  Speaker 1: Do you have any?
• 16:05
  Speaker 1: I know Malene's only four.
• 16:06
  Speaker 2: Malene's only four.
• 16:07
  Speaker 2: She right now, I think, would be a princess or a mommy, or she got dressed today and she told me that that was a mommy outfit.
• 16:13
  Speaker 2: She felt like a mom in it, and so her, her.
• 16:19
  Speaker 2: I feel like the sky's the kind of like the limit.
• 16:21
  Speaker 2: She is so feisty and like, uh, she's not gonna take anybody's mess, she is gonna stand up for herself.
• 16:30
  Speaker 2: She I mean no telling what she wants to be.
• 16:33
  Speaker 2: I mean it's I feel like it changes all the time.
• 16:35
  Speaker 2: Um, but I want my kids to feel like they can be anything, and so I feel like that's like a huge point of like you and I are like, well, you can do anything you want.
• 16:43
  Speaker 2: Like there is no us being like, well, that might be too hard or that's you can't succeed that far, or maybe you want too much.
• 16:52
  Speaker 2: Like we're trying.
• 16:53
  Speaker 2: We definitely want them to feel like loved and want to know that they can do anything that they want I call that.
• 16:58
  Speaker 1: You know dreaming big and uh you know, like the name of the podcast, go big with gibb.
• 17:04
  Speaker 1: You know, I want the kids to dream big, and if that means that they want to be the president of the united states, or if they want to be, you know, a professional, athlete or professional musician or, you know, a doctor, lawyer, cpa, whatever the case may be, I think we're real, real supportive of that.
• 17:24
  Speaker 1: Somebody told me recently, like a great way to redirect, that is to say, hey, that's great, you want to be, you want to be a lawyer or whatever you want to be, you know, but how are you going to get there?
• 17:36
  Speaker 1: And I think that's a cool way to talk to a kid about their dreams, rather than shooting them down and be like, oh, you can't be, you can't be the president of the United States, you know you're never going to achieve that.
• 17:47
  Speaker 1: Say, well, ok, you want to do that.
• 17:49
  Speaker 1: Well, how are you going to get there?
• 17:59
  Speaker 2: Because a lot of people, you know, aren't willing to pay the price to get to the place that they want to be, and I think that's also where you and I are.
• 18:04
  Speaker 2: I think when we bought all the rental property at that time I was pregnant with Malene, we were about to have a baby.
• 18:08
  Speaker 2: It was a lot going on in our lives and you had managed them for a year and then I took over.
• 18:13
  Speaker 2: I think that the kids seeing that I can still be a mom and still work has been a great for the girls especially.
• 18:21
  Speaker 2: But like also to see like you can juggle everything this is, you know, when I became a mom I didn't know if I would go back to work or what I really felt like I needed, and this gave me something to else, like kind of like my own thing, like yes, it goes along with you and it benefits our family, but also like it brings in something else for myself, and I like that they can see that Sometimes they don't love going along with me, sometimes we have to unlock doors or go check on something, and so that part can be a little bit hard, but I think it's good for them to see, and also like value that I am doing something to help provide for our family.
• 19:06
  Speaker 1: Yeah, so we've always, I think, charged ahead like full steam ahead.
• 19:12
  Speaker 2: Oh, that is the best way to, I feel like, to describe our marriage is everything we do is like 110%.
• 19:16
  Speaker 2: We're doing it and it's always something else.
• 19:19
  Speaker 2: What else can we do?
• 19:20
  Speaker 1: Yeah, we definitely have never been afraid of like.
• 19:23
  Speaker 1: You know, let's build a house and, at the same time, have a baby and, at the same time, buy a couple more rental properties.
• 19:31
  Speaker 1: You know, between 2019 and 2020, you know, between 2019 and 2020, we acquired those 14 single family condos here in Greenville and then in 2021, we acquired the vacation rental in the Smoky Mountains and we also acquired the commercial building in um in moorhead city.
• 20:01
  Speaker 1: And, yes, so we we've got a full-time property manager in tennessee, but you've been managing all 15 of the other properties.
• 20:04
  Speaker 1: Yes, um, talk to me a little bit about what your duties entail with the condos here and you can talk about the, the commercial building in moorhead as well so I feel like the condos are here.
• 20:16
  Speaker 2: They're all um long-term rentals.
• 20:17
  Speaker 2: They're condos, we have tenants in them, so pretty much like making sure the tenants are happy.
• 20:22
  Speaker 2: I'm not a, we are not slumlords somebody made a joke like a friend made a joke in passing but I, like I really want to make sure that we're offering, you know, good places for families to live, and so one of the things is like I am trying to be available to these tenants all the time and make sure that their needs are met, like things are not broken and, if they are, get a repairman out there, um.
• 20:47
  Speaker 2: So I feel that is like one of my number one.
• 20:50
  Speaker 2: I want them to feel safe in these places that we have.
• 20:54
  Speaker 2: So I, yes, yes, I manage all that.
• 20:55
  Speaker 2: A lot of them have been updated.
• 20:58
  Speaker 2: We did that like before when, if they were vacant when we purchased them, um, but some of them now I have been.
• 21:05
  Speaker 2: I feel like I've taken on the remodels, um, which has been great.
• 21:09
  Speaker 2: I do like a remodel, um, but um, for the condos.
• 21:14
  Speaker 2: It's been a good like outlet for me to have something else, and so I think I've found, like you know, good people to work for us like good repairman, hvac guy, plumber, electrician I feel like everybody is.
• 21:30
  Speaker 2: It's coming together like the cabinet guy, the countertop guy, all these people I send them, try to send them business and they take care of us.
• 21:37
  Speaker 2: And so it's been really good to like kind of like form those relationship out there, relationships outside my family, and so I also manage that manage tenants moving out, manage tenants moving in, find tenants, list the properties.
• 21:52
  Speaker 2: When I was in college I worked for a real estate agent and so I feel like that, that kind of like helped me, like this made it a lot easier.
• 22:01
  Speaker 2: I've read contracts, I can write contracts, so it made it like a more of an easier step in stone for me, like with that background.
• 22:10
  Speaker 1: Yeah, yeah.
• 22:10
  Speaker 1: I feel like you've done great with all that, and I feel like I mean our units that we own here in Greenville are beautiful properties.
• 22:18
  Speaker 1: They're the kind of properties that we could live in.
• 22:22
  Speaker 1: I mean, you know, we want to have more physical space than the 1,200-square-foot condos.
• 22:28
  Speaker 2: We have some that are about 1,500 and that are, you know, have great lighting and like natural light and that kind of stuff, which would definitely, I mean our family could live at one.
• 22:39
  Speaker 1: Yeah.
• 22:39
  Speaker 2: Yeah, I mean.
• 22:40
  Speaker 1: I think so too, like especially with all the finishes and the countertops and the tile backsplash and the stainless steel appliances and the new floors.
• 22:49
  Speaker 2: To take things that are ugly and make them pretty and more efficient, and I feel like that's a lot of work behind the scenes that people don't see and I definitely think that with the commercial property in Moorhead that definitely was a lot to take on, with it being such a large, you know, technically a house.
• 23:12
  Speaker 1: Yes, so like a little bit of background, the George Dill house was built in 1910.
• 23:17
  Speaker 1: It's located on a Rendall street in Moorhead city, down down in the promised land part of Moorhead city.
• 23:24
  Speaker 1: Tell the listeners a little bit about what we did to that house, because I think it was a really special.
• 23:28
  Speaker 2: Yes, it was.
• 23:29
  Speaker 2: Really.
• 23:29
  Speaker 2: I had never done a renovation on something that old, so it required a lot of updating, like electrical, plumbing, hvac, like a lot of that stuff hadn't been updated in a while and so that, like may you know, was a lot of stuff that had to be done and also, like you couldn't really it didn't make it real pretty but or make it, you know, look nicer, because the house was, I mean, it needed a lot of work, and so we were able to do that.
• 24:01
  Speaker 2: Um, I like the fact that we were able to like save some stuff for the historical part, like the um flooring just needed to all be re-sanded and stained, which was great, and we were able to like patch some places that we needed.
• 24:14
  Speaker 2: But the kitchen was not efficient whatsoever and so pretty much that was gutted and we were able to.
• 24:20
  Speaker 2: You know, the countertop and the cabinet guy were able to come in and we were able to maximize the space, make it work, work better for, you know, a running kitchen, because it is a full-size kitchen and so that whole kitchen is new and I feel like someone could live in the home in the kitchen, and so that made it put more value, and that's also the thing too.
• 24:42
  Speaker 2: With all these remodels, we're adding value to these properties, and so we're.
• 24:46
  Speaker 2: I'm grateful that I'm able to do that also in the.
• 24:49
  Speaker 2: In the house we did this has a great like stairwell coming down, but they had painted the wood white and they had this huge banister at the end and it was gorgeous, and so I was wanted to be able to save it.
• 25:05
  Speaker 2: But I wanted to stain it to match the floors, and so we weren't able to save it because it had been painted so much.
• 25:14
  Speaker 2: But I had them do a replica of the original and so put in that replica, and so it does look the same like it did before.
• 25:21
  Speaker 1: It does.
• 25:22
  Speaker 2: And I've been in the house when some people have like come by for the business and they were like you know, we're grateful that you made it look like it did before, like I just didn't monitor, like made it so modern.
• 25:36
  Speaker 2: It looks totally different, I mean, but it was a huge undertaking.
• 25:39
  Speaker 2: It's three stories.
• 25:40
  Speaker 2: It has three full baths or two full baths and two half baths.
• 25:44
  Speaker 2: I mean it is.
• 25:45
  Speaker 2: It was a lot All new light fixtures, all new everything, and so just trying to um plan all of that because you got to have everything ready and so it was a lot of work, but it was fun, I enjoyed it we did all the things you mentioned, but we also put on a new roof.
• 26:02
  Speaker 1: We put on a metal roof, which was a a big line item, big ticket item.
• 26:06
  Speaker 1: Yes, we put on new siding.
• 26:09
  Speaker 1: We ended up going with hardy plank siding on the entire exterior of the building.
• 26:15
  Speaker 1: We redid all the landscaping, we put in a concrete driveway.
• 26:20
  Speaker 2: Yes.
• 26:21
  Speaker 1: We put in three new HVAC units, we redid all the plumbing and electrical in the entire house and so it was like a four or $500,000 renovation.
• 26:33
  Speaker 1: It was a massive renovation, but we took this beautiful home from 1910.
• 26:38
  Speaker 1: And, like you said, we kept a lot of the charm and character of an older property, like, for example, the windows on the front elevation are the original windows.
• 26:50
  Speaker 1: Yes, we did not replace those because they had that cool look.
• 26:54
  Speaker 2: And the glass.
• 26:54
  Speaker 2: You can't get glass like that, and so we try to definitely keep that.
• 26:58
  Speaker 2: The yard was a total disrepair, found a great landscaper that has taken it back.
• 27:04
  Speaker 2: We put in a great brick walkway.
• 27:07
  Speaker 2: I mean we spent some time and definitely some money on it, but it has really turned out to be so nice and like be proud of it, like to bring it back to its original glory and um, because at one point it was teal when I think we bought it it was too I was like I can't stay teal, but let's bring it back so it isn't an eyesore.
• 27:29
  Speaker 2: And it's been nice because the neighbors next door have done the same thing with that property and so bringing that back to the beach area was really really fun and exciting, and I like to drive by and see it and be like, oh, I did that, so it's really cool.
• 27:48
  Speaker 1: Yeah, I think it was a great contribution to Moorhead City and Carteret County for us to come in there and be running my law office out of that building and then to invest so much money into the community and then to see the ripple effect that it had where other people started fixing up the properties around us.
• 28:11
  Speaker 1: That was a pretty, pretty special thing.
• 28:13
  Speaker 1: As far as the real estate portfolio goes and managing the portfolio looking back in hindsight, is there anything that you would have done differently?
• 28:23
  Speaker 2: So I think the only thing that I had struggled with a little bit is picking the best tenant, like I've had some that have been great, I had some that haven't like their expectation meeting their expectation of the renters around them.
• 28:37
  Speaker 2: Like some of that I can't, what I can't control, and so that part, I think, was like the hardest for me to like learn how to deal with and pick up on those red flags.
• 28:47
  Speaker 2: When I meet somebody and show them the unit, like is this going to go well?
• 28:50
  Speaker 2: Are they going to have a lot of problems, you know, because when you're in a condo there's either someone above you or below you and, um, you have to be able to deal with the noise, and so I feel like explaining that you know to people has been a lot better.
• 29:05
  Speaker 2: Also, you know, I said picking up on the red flags of someone I think you know might, oh, this might be a little bit of an issue just waiting.
• 29:13
  Speaker 2: Right now we have a we've remodeled a condo this year already Um tenant moved out.
• 29:17
  Speaker 2: He was a great tenant, had been there, I think, when we bought the unit so a while, um, he it needed updating and so, but I've been and it's done and it's been done for about a month or over.
• 29:29
  Speaker 2: But I've been very selective about who I'm going to put in there, because we did replace the HVAC.
• 29:34
  Speaker 2: It has all new flooring.
• 29:35
  Speaker 2: The ceilings were scraped because they were popcorn.
• 29:38
  Speaker 2: It has all new crown molding, new appliances, new countertops, some new cabinets.
• 29:42
  Speaker 2: I mean it has new lighting, new bathroom fixtures, I mean everything.
• 29:46
  Speaker 2: I mean it has new lighting, new bathroom fixtures, I mean everything.
• 29:48
  Speaker 2: And so when you put a lot, all that money into it, you need to be like as selective as you can to see who you're going to put in there, and also, I think that would be, you know, the one thing is, you know, trying to really make sure we found a good tenant, and I feel like I found a great place where I am with.
• 30:05
  Speaker 2: You know, I've grown in that aspect of being able to pick out the best kind of tenant for us.
• 30:10
  Speaker 1: Yeah, and I think one thing you know we do have some some long-term tenants who have been with us for a long time, and you know now I think you've been doing periodic rent increases, which is something that is not the most fun thing to do, I don't think, but it it is.
• 30:27
  Speaker 1: It is necessary because rents are increasing in the area and we've got to be able to get market rents in order for it to be a worthwhile investment.
• 30:36
  Speaker 1: How do you feel about the rent increases and doing that?
• 30:40
  Speaker 1: Is that beneficial?
• 30:40
  Speaker 1: Well, they were needed.
• 30:42
  Speaker 2: Some of our tenants had been in there for four years and hadn't had a rent increase.
• 30:45
  Speaker 2: That was something I did at the beginning of 2024.
• 30:48
  Speaker 2: People who were month to month having to see if they're going to stay or leave and sign new leases.
• 30:54
  Speaker 2: But raising the rent, you know, I got a little bit of pushback but I explained a lot of it and sent comps and like showed, okay, well, everything else in this area is running at this price.
• 31:04
  Speaker 2: I think it's a lot easier if you raise the rent, maybe a little bit every year, instead of like, maybe a larger jump.
• 31:09
  Speaker 2: And so I did work with some tenants on that because they had been there for so long and hadn't raised the rent and so.
• 31:16
  Speaker 2: But I also don't want to price them out where they can't stay.
• 31:19
  Speaker 2: Turnover also creates a lot of expense for us, and so if I can keep a tenant in there, then they're going to stay for a longer period of time.
• 31:29
  Speaker 2: But if I can keep them in there, then I don't have to have those expenses.
• 31:34
  Speaker 2: So, trying to work with them on that, because I don't want to price it out where people can't afford it.
• 31:40
  Speaker 2: And so, yeah, I mean raising the rent was got a little kickback, but it's really, really worked out and I'm glad we did it.
• 31:50
  Speaker 1: So final question how important is it to you that we have family time where all five of us are together?
• 31:58
  Speaker 1: What do you see us doing over the next 12 months?
• 32:02
  Speaker 2: OK, so totally important.
• 32:04
  Speaker 2: I feel like it's great for you know of us to have one-on-one time with each kid and plus they're into different things but also like for us to do things as a family because our kids do get along so well.
• 32:15
  Speaker 2: It's really nice for us to be able to, and recently we've been able to go on like a family bike ride, which has been really fun, because a lot of times the kids are too small to go and just one kid's going, and so it's been really nice to be able to do that.
• 32:30
  Speaker 2: Our trip to Fiji was great.
• 32:32
  Speaker 2: I mean, if we can just plan more trips like that as a family, because I feel like it makes us closer, because it gets us away from work, having that time at the beach and like we're all relaxed and the kids and I.
• 32:44
  Speaker 2: You know we move at the beginning of of the end of May and we'll stay until school starts in August and we love that.
• 32:49
  Speaker 2: You come back and forth but are there a lot and it's just nice to have like slow down, teaching the kids, like we don't have to be running all the time, and I think that that is like.
• 32:59
  Speaker 2: Also, like you said, one thing I want to make sure the kids have like enjoy the small things, like everything doesn't have to be a huge thing.
• 33:05
  Speaker 2: I mean, I know we took them to Fiji, but we want to make sure that you just enjoy the small stuff and like, enjoy relaxing and like taking a breather and like, and so that's what we have coming up in 2024.
• 33:17
  Speaker 2: We're going to be going to the beach, which I'm super excited about.
• 33:20
  Speaker 2: In October.
• 33:22
  Speaker 2: We are going to the mountain house in Tennessee, which we're super excited about.
• 33:26
  Speaker 2: It's by Dollywood and the kids love it.
• 33:28
  Speaker 2: We've been one time before, so that'll be really nice, and we'll just have to see what else we have in store for the rest of the year.
• 33:37
  Speaker 2: Well, I mean, I'm hoping that maybe we'll have to see how real estate is in store for the next.
• 33:43
  Speaker 2: Are we going to buy something else?
• 33:45
  Speaker 2: Are we going to remodel something else?
• 33:47
  Speaker 2: I feel like this is the slowest time I've had.
• 33:49
  Speaker 2: You know, I just finished remodel, but I feel like we need to do another one.
• 33:52
  Speaker 2: I enjoy it so much.
• 33:53
  Speaker 2: So we'll have to see.
• 33:55
  Speaker 1: Sounds great.
• 33:56
  Speaker 1: Well, Kate, it was awesome having you on the podcast.
• 33:59
  Speaker 2: This is fun.
• 34:00
  Speaker 1: I really appreciate it and I hope you had a good time.
• 34:02
  Speaker 1: Yeah, no, it was great.
• 34:08
  Speaker 1: Thanks for having me, thank you.
• 34:09
  Speaker 1: Thank you for listening to this episode of Go Big with Gibb.
• 34:10
  Speaker 1: If you haven't already, go follow us on social media at GibbIrons.
• 34:12
  Speaker 1: We'll see you next time.