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February 27, 2020

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Show Transcription:

Eric Worral: (00:00)
Hey everybody, welcome back to another episode of RentPrep for Landlords. This is episode #300. That’s a huge episode for us. Big milestone and I am your host Eric Worral. And I thought for a fun podcast today, we’d actually do a recap and hear from people who have been on the podcast in the past and just getting a recap of what’s going on in their lives and we’ll call out some of those previous podcasts that might be a good list and maybe you guys missed them just because some of them were a little bit ago. So I really looking forward to hearing back from us and previous guests here. I’m going to get to that right after this.

Voice Over: (00:35)
Welcome to the RentPrep for Landlords podcast and now your host, Eric Worral.

Eric Worral: (00:40)
So one of the first people to reach out. I kind of just sent this out to a few past guests and said, Hey, leave me a voicemail. I wasn’t surprised that a good friend of mine, Michael Simms is one of the first people to take action on this. Mike was a guest on episodes #220 and #245, a #220 was titled Motivation Mike and for good reason and #245 was, What’s Your Big Picture with Mike Simms? I met Mike on a bike ride across New York state, seven-day bike ride called the empire state ride where all the proceeds go towards cancer research at Roswell Park Cancer Institute. And Mike was just somebody who really stuck out to me through the course of that week.

Eric Worral: (01:19)
Partly because he seemed like he was insane. You know, here’s this guy who’s old enough to be my father who seems like he has about five times more energy than I do. And you know, I’d be coming in at the end of the day on my bike, you know, after doing 60, 70, 80, 90 miles and just absolutely gassed. And here’s this guy standing there just clapping, slapping people on the back, cheering for people that were coming in cause he’s already been there for two, three hours cause he rides his bike like a maniac. But Mike is a realtor in the Long Island market. Forgive me cause I don’t remember this specific County, but he’s also got some other stuff going on with real estate and really one of his talents I think is he has a knack for motivating people. I watched it on the course of that one week a bike ride. And you’ll hear it in his voice. He has an infectious enthusiasm and why don’t we take a listen to what Mike’s got going on since he’s been on the podcast.

Mike Simms: (02:13)
Eric, it’s Michael Simms in, a very good morning. First and foremost, thank you for having me on the podcast. Okay. What has gone on since I was featured on that the mindset that I have learned from the people that you have on your podcasts and on your website and on your Facebook page. My wife and I are months away from paying off our mortgage four years early. People that I met on your podcast are getting into what we’ve already formed, a limited liability corporation with which we are going to be purchasing properties in 2020 and start to build a very large real estate portfolio. And for that I’m grateful. Open, pray that all as well. Hope to speak to you soon. Take care.

Eric Worral: (03:02)
Yeah, Mike is such a great guy. It’s great to hear from him. I was actually, I’m communicating with him on a weekly basis for a while just kind of talking about things and I know that he actually met somebody through our Facebook group and they’re working on some real estate deals and he’s you know, putting these plans in place via their community on our Facebook group at RentPrep for Landlords. So it’s just really cool to see those kinds of stories come through where people are, you know, meeting digitally, maybe they’re from a different, you know, state, which is true in his situation. But just seeing those things come to fruition and people working on their dreams and real estate is awesome to see that come through. So I’m glad Mike is doing well.

Eric Worral: (03:38)
I’m sure I’ll see him soon. And yeah, he’s an interesting guy. If you ever get a chance to have a conversation with him it won’t be time wasted. All right. Our next recap comes from Steve Fox. He was a guest and was introduced to me by one of our clients, Lindsey Dorris who was in Nashville and he said, Hey, I’ve got this friend, I think he’d be a really interesting guest in your podcast. And he was correct. Steve is a former musician, current artist. He’s done some pretty amazing things in the music industry, a really tough industry, obviously to make a living in for a lot of people, but he managed to do very well with it. Moved down to Nashville from Toronto and ended up writing a country songs for some of the biggest acts in country and having his own career in music as well.

Eric Worral: (04:26)
And he was able to parlay that success in music into buying up rentals in Nashville. And if you keep track of any healthy national markets, you know, that Nashville was always mentioned as one of the markets that has done very well. In the last you know, I’m kinda pulling this number out of my butt a little bit, but 10 years or so, and he talks about what’s going on with that and what he’s been up to. Really interesting guy. If you do want to hear more about his episode, he was on episode #280 and his friend Lindsay Dorris was on episode #286 updating us on dealing with some nightmare tenants that he had. So let’s listen to what Mr. Fox has to say.

Steve Fox: (05:10)
Hi, Eric. Steve Fox here. Thank you very much for asking me to be a part of this and congratulations on your 300th birthday and you’re 300 years old. No, 300 episodes. That’s amazing. Who gets to make 300 episodes of anything? I’m calling from Nashville where we live. Just to recap, my wife and I are Canadian, lived here for 23 years and part of the year in Canva. And we started buying houses here in Nashville in the downturn. And that went very well and we didn’t know what was going to happen in Nashville in the last, you know, six to eight years. The prices have done crazy and we thought, well that, that’s good. Well, we’ll but we’ll never be able to buy another rental house in Nashville again. But as crazy as we are in December, we bought probably our last house in Nashville and now we’re doing it like we see so many people around us doing, buying them and renting them out and really just barely making the numbers crunch.

Steve Fox: (06:17)
So that’s really what they’re doing it for is on speculative appreciation as opposed to quite a bit of money left over each month in rent, if that makes sense, because of what you actually have to pay for them now. So you know, we’re happy to try that on one house. We’ll see how that goes. So far, so good. It’s been a couple of months. We got good tenants in there. I didn’t have to do much to it, but we really never thought we would buy another house here. And we are still very interested in buying a double in the Westside in Buffalo. But we put the brakes on that because we were advised that there is a major property tax evaluation coming and they’re going to, they’re going to divulge all what everybody’s gonna pay in July of this year. And you know, listeners will know, probably know all this, but and we want to see how that affects the market.

Steve Fox: (07:11)
So like maybe a year from now we’ll revisit Buffalo and see how that has affected a lot of people have told us that it’s probably a situation where the property taxes in the downtown bore are going to go up significantly and that will probably put a freeze on appreciation and even have people dumping property. So we’d rather be buying in that market than right now. So anyway, I don’t want to bore your listeners or you, I just wanted to say thank you very much for asking me to be a part of this Aloha from Nashville or Tashville or some people call it Nash Vegas or if you’re a hockey fan, Smashville okay. Take care and congratulations. And thanks again.

Eric Worral: (08:25)
So yeah, it was a cool meeting with Steve Fox and one of the reasons that Lindsey his friend told us to connect with them is that he actually has a cottage just over the border here. So we’re in Buffalo, New York, and about like probably about a 30 minute drive from our office. He has a cottage, so he actually came to the office and did the interview in person and just a really nice guy. It’s always cool seeing somebody who’s done so well for themselves. And it just comes off so humble and, and just generous with his time. And it really neat to seeing you know, how he was able to parlay a music career into these rentals. And definitely a theme that you see. You know, I’m much younger, 34 people in my age range.

Eric Worral: (09:10)
A lot of times I think we’re, we’re buying for cash flow and we’re trying, we’re not really focused on the appreciation as much and it seems like once people, a lot of times hit a, a, a better point or maybe just further down the road that they start kind of going more for appreciation. So if you want to listen to that one again, that was episode #280 with Steve Fox. I believe it’s called like Music and Rentals or From Music to Rentals with Steve Fox. Episode #280 is a really fun one to do. So coming up next we have a fun guest of the podcast. His name is Tim Shiner. He’s been on the podcast actually twice. I heard about him on BiggerPockets. Listen to his podcast. I thought it was really interesting and he was on our podcast on episode #184 and episode #219.

Eric Worral: (10:03)
184, the title was Double Dipping with Tim Shiner where he gets into his strategy on how he pretty much leverages his rental properties and gets people to live there and they tear up their lease for free with him if they buy a property through his wife because his wife has a real estate agent. So really interesting because he was explaining how in that episode that they have these high-end rental properties and usually it’s people that just want to scope out the area before they buy. And then when they’re tearing up their lease, sure he’s losing a renter, but he’s getting 3% or his wife is getting 3% on the sale of these houses that these people are buying that are one, $2 million homes. So really cool strategy that he has set up for himself. And then he goes into further detail and episode 219, him and crystal Shiner talk about owning rentals together as a couple and navigating that as a couple. So let’s hear what the always funny and never holding back Tim Shiner has to say.

Tim Shiner: (11:04)
RentPrep Nation! Hey, it’s Tim Shiner, I was the episode kind of the antichrist, the guy that buys for appreciation and also does the buy from me, tear up your lease for free. We let our high-end renters out of their contracts with them. If they buy a house from my wife, not our houses, but if they buy a house because we are in the high end, Len house market in Dallas, Fort Worth area. These people seem to be runners, so they typically lead pretty fast. And we buy for appreciation. We’re buying hold whenever go sell anything. If you care to have an equity moment, we’ll just add more debt to her alone and pull out that money tax for. So we’re up to 22 houses, everything’s going great. We’re very picky now. We won’t buy a house with carpeting. We want all hard surfaces with the type of people that rather buy a perfect house and pay full money, then buy a house that needs a lot of work because of time’s most valuable commodity as being the mid-fifties, like I am.

Tim Shiner: (12:03)
So so we’re going to pick you and pickier on what we’re buying. Our market’s doing really well, it’s very hot. Anything good has multiple offers. But our secret sauce, five for appreciation, hold for other, I’ve got a theory called bad E a. D you’re going to buy a property once, you’re going to pay above market, that market and below market that events occurs once and that’s it. Next is a we’ll skip over and we’ll go deeper. Debt reduction, that takes forever. Whether you’re on a 1520 or 30-year note, it’s going to take a long time to change your net worth. So the only thing that’s really going to happen quickly is the eighth or appreciation. You’re going to have appreciation, you’re not. And when you have appreciation that’s going to increase your net worth, but also allows you to use that equity, like we currently do.

Tim Schiner: (12:50)
You’re buying houses with no money down because we’re using the equities that we have kind of LLC our pool of 22 houses. So that’s kind of my secret sauce and wanting thing more on the www. Tim Tim Shiner, like a black eye or beer from texas.com to chatter.com also there you’ll see all three posts or 25 episode of teacher millionaire. And we also wrote a book my wife loves slash takes rental property. It’s a guy and girl, a back and forth conversation about owning and succeeding in the rental market. Thanks RentPrep Nation! Thanks Eric! Have a wonderful day guys!

Eric Worral: (13:31)
Yeah, like I mentioned, definitely check out Tim’s podcast with us #284 and #219 learn a lot of things from Tim and it’s also one of those things where you kind of, at least for somebody in my situation, like you start to learn some things about somebody who’s been there and done that and you’re like, Oh, okay. I, I kind of get where you’re talking about. I’ll get it more when I experienced that at some point. But I know on the one podcast he was talking and you kind of referenced it here, where if he wants to have an equity moment, he said he just takes out a, some equity on one of the properties. So it’s more of a tax-free loan if he needs that money. And it’s interesting hearing these two back to back.

Eric Worral: (14:11)
Right. So I apologize, I forgot what Steve Fox said. His portfolio was up to, but I think it is pretty similar, you know in that 2020 unit range and then you’ve got Tim saying here too, that he’s in that same kind of portfolio and they get to this stage and it stops being about cashflow and starts being more about appreciation of course. I like the fact that Tim also you know, couched that a little bit by saying, yeah, like I’m at a different point in life right now. Like he’s not really looking for a deal. He’s looking for a good property that’s not going to be a headache bed is in great and that he can kind of get started with right away. Cause time is his most important asset right now. I think one of the things that I try to think about is you can always get good advice from just about anybody rather, you know, maybe the advice itself isn’t good, but you can kind of pull out nuggets and pieces of wisdom from what somebody is telling you.

Eric Worral: (15:10)
And I think in the case with Tim, I’m like, I look at Tim as somebody who’s just on the other end of the spectrum as far as you know, financial success and setting himself up for life. And some of that’s to be expected, just the difference in age. But you can look at it and realize like, okay, he’s gotten to this point in his portfolios to this point where he can buy these houses and he just wants the nicest house available. Maybe that doesn’t work for you or myself. But you realize that you can get to that point where time becomes the most important asset you have. And it’s inspiring to hear those types of things where somebody just buying purely for appreciation and they’re just adding to their net net wealth and they’re not really worried about, you know, making a mortgage payments and things of that nature because they’re all set there.

Eric Worral: (15:58)
I think Tim is a really interesting guy because he’s somebody who seems to be able to look at things from a different angle. I think there’s a lot of strategies that are kind of rehashed quite a bit in real estate and Tim is definitely somebody who’s got an interesting insight because he seems to kind of do things in his own way and it works out really well for him. Again, check out episode number one 84, if you have somebody in your life that is a real estate agent and you want to start doing this double-dipping strategy that he does with his wife it is a fantastic really interesting listen to check that out. All right, let’s move forward a little bit further. We got a voicemail here from our friend Andrew Schultz. Now, if you have followed any of our content at all, I, you should be very familiar with Andrew. Him and I did a bunch of Facebook lives together called ask a property manager and he was also on a couple episodes of the podcast, a really popular one with Michelle Cain on emotional support animals and yeah, we’re going to get an update from Andrew on what he’s got going on cause he’s had some big changes as well. So let’s listen to him.

Andrew Schultz: (17:06)
Hey everyone, this is Andrew Schultz. You may remember me from the Ask a Property Manager segment that Eric and I were working on throughout part of 2018 and 2019. I believe I also showed up on a couple of podcasts somewhere in there as well. At the time that I was doing the ask of property managers with Eric, I was with Realty edge and that’s actually changed recently. As of December 1st, 2019. I do have my own brokerage here in Western New York under the name owned Buffalo incorporated and we are doing ask the property manager again as well. You could find that on our Facebook page, facebook.com/buffalo foreclosed homes. Guys, I would really love it if you’d get a chance to tune in. Thank to Eric and Steve for the opportunity to be both on the podcast and to start doing after property manager with them back in the day. We’re glad that we’re able to continue that tradition moving forward. Hope you guys enjoyed the podcast and we’ll hope to hear from you soon.

Eric Worral: (18:10)
All right Andrew, thank you for leaving that voicemail and kind of reaching back out there. Yeah, it was really cool like being able to do the weekly ask a property manager from Andrew they show up on our Facebook page as well and on YouTube and Andrew is continuing to do that on his own channel there that he mentioned on Facebook. So if you go to, I believe it’s own Buffalo, I’m going to actually look this up right now cause I’m going to repeat this just to make sure you guys got that right. I believe it’s owned Buffalo incorporated. He said do looking it up and yeah, owned Buffalo inc investment properties and foreclosures. So he is doing live streams from there as well. But Andrew is a bundle of knowledge. He’s got a lot of experience in the industry and it’s cool to get somebody who has so much insight, and I’ve said this a ton of times in the podcast, but like if you’re somebody who owns one or two properties, you don’t get a lot of experience to try out different things.

Eric Worral: (19:07)
You don’t get to improve your craft because you might only be running into these issues, you know, once, twice a year where if you have a hundred properties, you just simply can’t manage it unless you have really good systems and processes in place. So an Andrew situation, I forget how many properties he’s managing at the moment. I feel like it was close to 150, 200 properties. He has to have good systems and processes in place. So a property manager is a great mentor and guide as far as managing properties. Granted, many of them probably don’t want to mentor you on how to manage a property. A, Andrew’s kind of a special in that way that he’s willing to give his time in that way because you know, that’s what they do for work and for their business. But if you do have the chance to you know, find a local property manager or even follow somebody like Andrew Schultz online, it’s a great opportunity to save yourself a lot of headaches because they do things by the book and they just have those systems in place to really just avoid a lot of the headaches that new landlords or even sometimes you know, seasoned landlords run into just cause they don’t have the right systems in place.

Eric Worral: (20:16)
Well, everybody, we have a special guest here today that may sound a little familiar if you’ve been following us for a while. It’s Steve White. How are you doing Steve?

Steve White: (20:26)
I’m doing well. How are you? Good, good. Now I hear your voice, you know, quite frequently. And right now I’m actually at the home office. You’re are you at the office right now? Right? I’m at the office. Yeah. So for those of you that don’t know, Steve White, RentPrep’s CEO, a former co-host of the RentPrep for Landlords podcast, I think maybe you dropped off about less than a year ago, probably.

Steve White: (20:47)
Yeah. And I think it’s been about a hundred episodes, right?

Eric Worral: (20:50)
Yeah. Yeah. I honestly don’t know. I, you know, I, I don’t know if that makes you feel bad that I said that and like I didn’t like tattoo it on my wall or something like Steve left the podcast.

Steve White: (21:01)
Right. And it wasn’t, it was never really like a unanimous decision. As we, as we continued to grow, it was, it was always one of those things where scheduling got tough and I was pulled away from it. And so luckily, you know, you were there to continue to, to drive that shift because you’ve done a great job since.

Eric Worral: (21:21)
Well, thank you. Well, today’s episode 301 so I wanted to have you on and I’ve reached out to some former guests that are, we’re going to have on in a few minutes that we’ve left some recordings for us of what they’ve been up to since they were last on. But I thought it’d be cool for people listening just to kind of hear what’s going on at RentPrep and what you’ve been up to on your hiatus from the podcast. So I know in the last year we’ve been doing a lot of just kind of more like foundational organization stuff and then you’ve also made some big purchases and that just wanted to kind of give people an update on what you’re doing with that stuff.

Steve White: (21:51)
Yeah, so we are moving the RentPrep office to a new building that we just purchased. So we’re excited about that. It’s going to give us some more space. It’s a pretty modern, we’re trying to keep up with the times and you know, create something cool that, that attracts new people and new talents to the company. And we’re always sort of keeping our eye on, on the future and trying to innovate and keep up with an industry that’s is changing quickly.

Eric Worral: (22:23)
Yeah. Yeah. And I, I, one of the things too that I think is really important over the last year or two and we don’t have to get too far into the weeds in it, but like we’ve done invested quite a bit in kind of organizing the company from like from different systems. I know you got involved with vistich, which I’m sure a lot of people have heard of and familiar with. But you also got involved with like an EOS entrepreneurial organization system. Like a, just like a birds-eye view. If you can give people an understanding of why we’re doing that and what that’s about.

Steve White: (22:50)
Yeah. So, well, I’ll start with this then since you mentioned that first is a as you’d say, a peer group you know, being sort of a tech-driven company in the Western New York area at least, you know, back a couple of years ago, we were a real rare, you know, animal just was not a lot of companies like us and sort of felt like we were on an Island and you know, belonging to a group of other owners and CEOs that is sort of given me a, you know, a peer group that feels like I’m at least connected with the local business scene. Not always perfect business alignment, but, you know, just kind of having a connection to other business owners. And then the organizational management was actually something that, that you had found Eric, so I’ll give you the credit on this. We, we felt like something was missing, couldn’t really put our finger on it for a while. Like, Hey, how come our meetings don’t feel super productive? Or, you know, we don’t feel, you know, real organized in this department. Right, right.

Eric Worral: (23:58)
I think that’s why they named that book. That’s right.

Steve White: (24:01)
Right. Exactly. Yeah. So you’re, you know, you’re putting all this effort into something and, and sometimes it just feels like your, your wheels are spinning and that to describe just pretty, pretty, perfectly. You know, we’ve got an office full of motivated people wanting to go out and do good things and we weren’t always on the same page. And so I think an organizational management system really, you know brought us all together, put us on the same team, forced us to have the same conversations and really get clear about what we were doing, why we were doing it.

Eric Worral: (24:35)
Yeah. I would say with that too, like, cause I always try to bring it back to landlords somehow and what they might be able to take from that. And I think the thing that we’ve experienced is getting that outside help and that kind of third party perspective. And I think for a landlord that might be a mentor or somebody who’s already been there and done that for what you want to achieve sometimes it’s really helpful. And I feel like for us, that was helpful. Getting somebody to come in from the outside and kind of help us through some of these things and get things rolling and get things set up.

Steve White: (25:01)
Well, I, and I use this as an example a lot of times with our landlord Facebook community RentPrep for Landlords. And so you’ll see something on there where this landlord’s really you know, kind of scared and rattled and going through something he’s never been through before. Like let’s say you know, a fire

Eric Worral: (25:17)
Yesterday, yesterday was a really good one. Actually, I’ll give a real example of somebody posted that they inherited a bunch of rental properties. They have no idea how to manage them or anything. And it sounded from the gist of it that it was a maybe a sudden death an only child and the inherited this a rental property and I think several rental properties and had no idea what to do. And they’re posting it to the group and getting all this feedback.

Steve White: (25:43)
A perfect example of sometimes you know, you can do all kinds of research. You can read blog articles, you can listen to podcast at the end of the day just to talk to somebody who, who can tell you, I’ve been there, I know what you’re going through. Don’t do this. This is a mistake. I’ve seen this or I’ve made this mistake before. So having, you know, really having a community like that is, you know, so, so invaluable for not only for landlords but for businesses too. And so you’re 100% right over this past year, I think a 20, 19, 20, 20, certainly shaping up, kind of along the same lines, it’s really all about finding the right people, whether that’s in the form of advisors, peer groups you know, just expanding our network and learning more from other people who have been there and done that and, and sometimes saving us some of the pain and heartaches of failure by somebody saying, Hey, don’t do this. I’ve done this. It doesn’t work. Yup.

Eric Worral: (26:46)
Yeah. Yeah. Well, I think that’s a great way to end this segment of the podcast. But I just have, we wanted to get you on and I reacquainted with somebody who maybe hasn’t heard your voice in a while and they’re, they needed a little Steve white in their life.

Steve White: (26:59)
I don’t know how often anyone’s saying that, but I appreciate it. I appreciate everything that you’ve done with the podcast, Eric. You, you’ve certainly carried the torch and, and taken it farther than I could have ever done you know, on my own or even with any other podcast partners I’ve had. I think it’s, it’s been in good hands and so I appreciate everything that you’ve done with it. And you know, it’s weird to be like a, you know, an internet celebrity sometimes where somebody will call in and say, I heard you on the podcast or, you know, you run into somebody. Sometimes my own family members that say, I listened to your podcast all the time. It’s funny. It’s a strange, it’s a strange thing for me to get used to, but I, I feel like you’ve done really great things with it and

Eric Worral: (27:43)
Well, that’s why I tried not to grow it too, too much because I want to still go out in public, you know, so, yeah.

Steve White: (27:52)
Yeah. Right. I totally get it. You are RentPrep’s celebrity and fame. Right?

Eric Worral: (27:58)
Yeah. Yeah. Well, I know you’ve got a meeting coming up here, so I’ll let you go, but thanks for joining us on this podcast.

Steve White: (28:04)
Thanks, sir. Appreciate it.

Eric Worral: (28:06)
All right, for our last recap here, we’re going to be reaching out to Dan Lane. He is the host of the rental income podcast. He was on our podcast, episode #1 53. Dan was a great guest. He gave us his top 10 tips for managing rental properties. He’s going to kind of give us an update on what he’s got going on. I believe he invests down in like the Virginia, DC kind of area where he lives. And he’s been podcasting for a long time sharing insights and tips on his experience of being a landlord and growing his rental portfolio. So let’s listen in and hear from Dan and see what he has to say.

Dan Lane: (28:46)
Hey Eric, it’s Dan Lane from the Rental Income Podcast. I wanted to take a second to congratulate you and Steve and the entire team at RentPrep on producing 300 episodes. That is such a huge milestone and I’m thrilled to be here celebrating with you guys today. Keep up the great work on the show. You guys really do such an incredible job. You put out such great content and I can’t wait to see what the future has in store as far as what I’ve been up to, really, my rentals are kind of boring. I’ve got some really great tenants. They all pay rent on time. Nothing major has really come up with the portfolio in awhile. I should probably knock on wood for that one, but everything is going great. I’m really happy with my rentals. My strategy is to buy one or two a year. So as I come across deals, I’ll buy him, but you know, I’ve got no pressure or no huge goals to buy 50 rental properties in the next year. We’ll, we’ll just buy one or two as we find deals where the numbers make sense. My podcast, The Rental Income Podcast is going great. We’ve had some really good interviews recently with landlords and I’m really happy with the way the podcast is going. But more importantly, I’m so happy for you guys. Congratulations again on 300 episodes and here’s to 300 more.

Eric Worral: (30:14)
All right. I want to thank Dan for that nice message. He was a great guest and definitely somebody who just has this such a friendly disposition about him. That’s what I always appreciated about Dan and lots of insights that you can get from his podcasts as well. Just to kind of recap to a few things in this episode that may be, I kind of glossed over a little bit. As I was thinking here Steve Fox’s episode, he talked about the reason why he decided not to invest in Buffalo. Cause at the time that he was on the podcast, he was actually looking at a, I believe, a two-unit in Buffalo cause he really liked the city and what he’s been seeing there as far as the rental markets. And it was interesting cause he mentioned how the taxes were slated to go up in the area.

Eric Worral: (30:56)
And they did. I actually got the notice on the rental property that I owned and sold in the North Buffalo area. And it’s interesting to hear that kind of feedback because obviously when you know there’s a tax increase like that, the city’s trying to reassess and increase their revenues by obviously taxing people more on their properties. But it’s interesting to hear the downside of that. Cause here you have somebody who has a really good handle on rental properties creates really great homes for people. He cares a lot about the people and the properties that he has. And he was going to be investing in this community. And then the city decides they’re going to raise taxes and he says, you know what, I’m out. That’s kind of a reoccurring theme that we kind of touch upon in our podcast is that there’s always these you know, for every action there’s an equal and opposite reaction.

Eric Worral: (31:49)
So in that particular case, the city’s trying to increase tax revenues, but then you’re losing investors and people who want to invest in the city when they do that. So I always think that’s worth highlighting because it’s interesting when you hear that kind of feedback from people. I just want to say thank you to everybody who took the time to leave us a voicemail or reach out with an audio clip, just kind of updating us on what they have going on. It’s been really great meeting different people over the years through the podcast. It’s a, an honor to be able to do the podcast. Obviously 300 is a big deal to us. But I just didn’t want to do a regular kinda in the news update. I, and kind of recap a little bit with what’s going on. And I know I missed a few people are, maybe they didn’t have time to get a voicemail out, but I hope to do a recap episode in the future as well.

Eric Worral: (32:33)
Just kind of a touch base with people and see how they’re doing. And lastly, I want to thank you guys. You guys are listening and giving feedback or get your emails. I see things pop up in the Facebook group from time to time as well. It’s just cool to always get that feedback and hear what’s going on in your guys’ lives. If you’re not in the Facebook group already, RentPrep for landlords, that’s great resource to connect with people and get instant feedback and advice and just be able to commiserate with people who are in the same boat, so to speak. So again, guys, thank you so much for listening. Really appreciate it. And looking forward to catching up with you guys next week. All right. Have a great week and take care.

#300 Catching up with Old Friends

Can you do us a solid?

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