December 2, 2025 • 40 mins
On this episode we dig into how Eddie went from diesel bays to building long-term wealth through Wisconsin rentals — using a simple buy box, steady mentorship from his dad, and a numbers-first approach that keeps emotion out of offers. We also break down today’s rental slowdown, real rent-setting strategy, and why in-house rehab gives local investors a massive edge.
🛠️ Growing up on job sites and learning management from the ground up
💼 Leaving a capped wage job for flexible, asset-backed wealth
😬 First-deal fears, financial worries & getting your spouse aligned
📊 Using a buy box: $25k equity, sub-$200k all-in, 25% ROI targets
🧮 Taking emotion out of offers with calculators, not “feelings”
🏦 Smart debt as a hedge against inflation and a long-term wealth lever
🏘️ Rents leveling off in NE Wisconsin & slower tenant demand
🔍 Verifying rent projections: PM data, local comps, Rentometer
📈 Filling units fast vs pushing rents — how to decide
🔨 Why in-house rehab creates predictability, speed, and confidence
🌲 Door County life, deer season, and investing the Wisconsin way
Giveaway Reminder: 🎉
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Prizes:
• One-hour coaching session with Corey
• $250 Amazon gift card
• Wisconsin Investor Starter Kit (merch, books, coffee)
Want to reach Eddie?
The best way to connect with him is through https://rulepropertymanagement.com/
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (01:18):
What's going on, everybody?
Corey Reyment, your host hereof the Wisconsin Investor
Podcast.
And uh we, as usual, haveanother amazing episode we're
about to bring you guys herepost-Thanksgiving.
So hopefully all y'all had agreat Thanksgiving and you're
stuffed with uh with good timesand turkey.
And um, you didn't put on toomany pounds over last week here.
So uh also I want to announcesomething here on the last
(01:41):
episode.
I brought I talked about thisas well, but hang on to the end
of today's episode.
I'm gonna be talking about howyou're gonna get in uh be able
to get involved in a littlegiveaway that we're doing.
So you're we're gonna get threedifferent winners here, and
we're gonna announce them onJanuary 1st.
And so you're gonna want tohang on to the end of the
episode to figure out how do youget entered in to win those
(02:02):
prizes, and you're not gonnawant to miss what those prizes
are.
You're gonna want to be in onthose things, right?
Eddie, Eddie doesn't even knowwhat they are yet.
Nope, not yet.
He's gonna he's gonna hang onto the end, too, I hope, and
we'll figure it out.
So, with that, let me bring inour guest for today's episode.
I got Eddie Eisman here withme.
Eddie, what's going on, man?
How are you doing?
Pretty good.
Didn't kill you.
So that was unfortunate.
But yeah.
Well, at the time we'rerecording this, I did say, you
(02:26):
know, happy Thanksgiving, but westill have we still have some
time at the time of recordingthis to uh get you a deer.
So yes, that is a greatWisconsin tradition.
So I usually ask that at theend of the uh end of the call,
favorite Wisconsin tradition,but gun deer season is one of
those top top-notch uhtraditions, wouldn't you say?
Yeah, definitely.
So yeah.
(02:46):
Well, I'm excited to have youon, man.
You uh you've got quite aninteresting story here and some
family history and things likethat.
Tell everybody a little bitabout how you got started in
this real estate thing, becauseI think uh you've got a little
different perspective maybe thana lot of other folks that have
gotten started in it.
Speaker 2 (03:03):
Yeah, so I've always been around real estate pretty
much my entire life since I wasa kid.
My dad's been investing forabout 30 years now.
Um I am 31.
Um and when I was a kid, I washelping him with little
projects.
He'd always bring me to hishouses after he didn't start out
with the management and allthat stuff, so he's always
bringing that himself.
Yeah.
So he'd always be bringing meto like the project sites with
(03:23):
helping him with small stuff.
So I've always been kind ofaround it.
Um then I first he was actuallymy first job working for his
management company, kind ofdoing like maintenance stuff,
cleanouts, cutting grass.
Um it was kind of just a job atthe time I didn't think of much
of investing at that point.
Yeah.
Um while I was doing that, Iwas actually going for my
automotive and diesel degree aswell.
(03:45):
So I was a diesel mechanic forabout five years.
Okay.
And in that time, I think 2021is when me and my wife bought
our first rental property.
Speaker 1 (03:56):
Okay.
So what was that shift for you,Eddie?
When did you go from like, hey,I'm gonna be I'm gonna go down
this diesel mechanic path tolike I'm gonna dive into this
family business thing full time?
Yeah, diesel being a dieselmechanic is kind of sounded fun
at the time.
And then as I was going, I waslike, man, this is starting to
get you know, it's just kind ofgetting sore.
I obviously five years fiveyears, people are gonna be like,
(04:18):
uh, I've done it for 20, 30years.
And but and then just kind ofit seems like having a job, you
know, you have a cap on how muchyou can make.
Sure.
And then we're planning onhaving a kid eventually.
Um, it'd be nice to spend moretime with them.
Nice.
So you were looking more so longterm for you, it sounds like
like the body piece of it was abig piece of it for you.
So the decent mechanic thing.
Okay.
(04:39):
Yeah.
I I've never uh I'm not veryhandy.
So I Yeah, I've always likedworking my hands.
Yeah.
That that to me, I I I wouldlike it.
I feel like I would earn my mancard a little more if uh if I
was a little more handy than Iam.
But um, I did this morning,Eddie.
I did win some husband of theyear awards by getting the
(05:01):
toilet unplugged for my wife.
Yeah, she didn't put she didn'tplug it.
It was one of the kids, okay.
But but she she I did unplugit.
So I can I can plunge toilets,which is uh a new skill set that
I think I could put on myresume if I ever need to.
Um so your dad, talk about yourdad.
So he's he was all he's also anattorney, correct?
(05:21):
Yeah, he's also an attorney.
He's been I guess I don't evenknow how long he's been an
attorney for.
He's had his own law firm.
Um he started rule, and I don'teven know.
Ten or ten years ago, I want tosay.
Speaker 2 (05:34):
Okay.
Speaker 1 (05:35):
And he's done pretty much anything, like multifamily,
running starting his own lawfirm, all that fun stuff.
Nice.
What were some of the lessonsthat you learned from that?
I mean, seeing your dad startthese things, you know, kind of
from the ground up and from youbasically being ingrained in it.
Are there anything now that youlook back that you're like, oh
yeah, like that that'sdefinitely a lesson I learned in
(05:55):
the process, or you know,anything like that that you
gleaned from your dad divinginto this, you know, this
business on a couple differentfronts, right?
From the attorney side and fromand from the uh property
management side.
Um obviously he's seen it like Isaw it's been kind of a help
with him because obviously hesees things like that won't
work, or he's had he's he's hadtroubles with before.
(06:18):
Like he always has these um Idon't know, why can't I think of
it?
Um rules or regul or alwayswrit all everything's written
down on what to do if thishappens, or I can always go to
him like, oh don't do this, likeI had this happen, this is why.
He's got a whole list of likeexperien like from experience of
things going maybe wrong or badthat you can just go to big
(06:43):
help with growing there, andobviously that's one another
reason I kind of jump took thejump when I got started back
till in twenty-one is I knew Inoticed you was nervous as hell.
Yeah, what even with all thathelp, but I knew we could figure
it out.
Yeah, worst case you got you gotpops that can help at least
give you some uh some advice onon what not to do, right?
(07:05):
Or what to do.
Like you kind of gotta figureit yourself.
That's great, man.
That's awesome.
Versus I I I I think that'sprobably a huge advantage you
have versus him just handing youthe keys.
Definitely.
Yeah, that's great.
Yeah, that's awesome, man.
Um, what was I gonna ask youabout, Eddie, on that?
(07:27):
There was something I wanted togo into with that whole
experience thing.
Um oh, what were your bigfears?
So you talk about like, man, Iwas really scared on that first
one.
You saw your dad do this withhowever many properties,
everybody has like over ahundred units or something,
right?
Yeah, right around there.
And you saw him do this likeprobably like it was like like
in his sleep, he's probablybuying properties.
(07:47):
Yeah, pretty much, yeah.
So were you diving in thatfirst one?
Do you remember?
Like, I know it was alreadyfour years ago, but like what
were some of the what were someof the fears you had going into
that?
I think more just the financialworry, like just worrying that
it's not gonna work out, orsomething we're gonna get sued,
or um if we can't, like if wecan't find tenants, it is just
(08:08):
all that kind of first investorstuff.
Um more in my mind than alsotrying to convince my wife that
it's a good idea.
So she what was her sentimentwhen you guys were getting into
this?
Was she uh was she just makingsure it's gonna work?
Okay.
Were you guys both on boardwhen you decided?
Like, how did that decisioncome to be for you guys that you
were gonna go ahead and start?
(08:29):
Like, do you remember thatdecision like how did that first
conversation go?
Was it her idea?
Was it your idea?
And how did you guys go fromstarting that conversation to
actually taking action on it?
It was kind of talking with mydad.
Um, we kind of just havemeetings with just kind of
financial meetings, just goingover stuff in life in general.
Um, where we're looking, like,you know, we could have there's
(08:50):
houses for sale, like it seemslike obviously you can see where
I've been at.
Um I can help you along theway.
Um that's kind of just how itstarted.
He kind of started the idea,and then I started we started
looking into a little bit more,like all this could probably
work and time, like when we havekids.
Back then we didn't have any.
Um we we'd be able to have moretime to spend with them and
more money to go on trips perse.
(09:11):
Okay.
So you guys kind of were youguys were having these financial
meetings with your dad or justyou and your wife?
Yeah, I just kind of we have uspointers.
Um That's awesome.
Market stuff like that, justkind of keep up to date.
That's cool.
That's awesome that he doesthat for you guys.
Sits down.
What are some of the lessonsyou've learned through those
those meetings?
Anything that our audiencecould could glean, you know,
(09:34):
inside your your family meetingsa little bit, your family
meeting structure, or anythingthat he's talked about with you
guys that you're like, oh, thatwas a big aha moment for us that
changed some things.
Just trying to keep update, likewatching your numbers, don't
let them slip away.
I don't know how to explain it.
(09:54):
Um keep update with yournumbers.
Um I've seen invest investingkeeps up like the stock market,
we've quite a bit in there.
Um, but don't get too honed inon the numbers right now.
Eventually, theoretically, theyalways go up.
Don't worry about the dips.
Okay.
I don't tend to watch it toomuch.
(10:15):
It just eventually go up andhaven't an issue there yet.
So you're not trying to timethe market basically, pulling in
and out and playing the market,you're just set forget as it as
it's maybe towards the tireage, but yeah, not too worried
about it right now.
Is that similar then to whyreal estate was appealing to you
guys too?
Is that it's kind of a similarthing?
Hey, I can buy these propertiesand not necessarily set them
(10:36):
forget, and they're a littlemore active than stocks.
Just to make make basicallylong-term wealth gaining.
We're not looking for cash flowright now, um, but just
long-term wealth gain is whatwe're looking for right now.
Right on.
So when you're when you'reevaluating a property, that's
what you're looking for, islike, is this gonna fit our
wealth bucket?
Not necessarily like a cash perdoor type of uh uh Yeah, we're
(11:00):
really looking for the initialequity and then the ROI.
Okay.
But I mean, if we have to put alittle bit in each month,
obviously you can't lose a toneach month.
Yeah, um, but uh the value ofit going up over time and then
your loan pay down is all taxefficient for us.
For sure.
Yeah, and the tax benefits.
We didn't talk about that,right?
(11:21):
You know, I was just I was justreading some things this last
week about um the dollar and howyou know inflation, uh people
people who you know, and theypeople have different degrees of
risk tolerance, right?
And so you and I sound likewe're very okay with debt and
smart debt, right?
Smart debt.
I'm not saying go get creditcards here and have that kind of
(11:42):
debt, but like smart debt.
And what it is, it's like it'sreally a hedge against
inflation, right?
And so there's you know, thedollar, the dollar that we have
today is gonna be worth lesstomorrow, right?
And that's just the nature ofthe beast.
But if you have an asset thatyou can leverage debt against,
right, you're borrowing attoday's cheap dollar, cheaper
dollar, right?
And it's gonna get less andless valuable every day.
(12:04):
And if you're locked in on aperiod of time, those payments,
right, essentially paying downthat, you're having your tenants
pay that debt down, theproperty's appreciating
hopefully at or above theinflation rate, and you're
you're basically using otherpeople's money to create wealth.
And this is every wealthyperson out there.
I don't know a lot of wealthypeople that don't leverage debt,
(12:26):
right?
I mean, yeah, it's verydifficult to try to be a cash
person and really um scaleanything of significance.
Obviously, there's risk, right?
When you when you leveragedebt, there's risk with it.
But um, you know, if you'retrying to do everything cash and
just I'm gonna pay all myproperties off and do all this
sort of stuff, for the averagemajority of people out there,
(12:49):
that's gonna be uh almostimpossible goal to try to
achieve and and really buildanything of significance in the
long run, right?
Yeah.
Yeah.
Yeah.
So the management, talk aboutthe management side of things a
little bit, Eddie.
So you um is your your wife isinvolved in the management
company as well, or is it justyou involved in that?
(13:09):
She and she's involved with ourfive properties.
Um Kevin, he's the one thatstarted his management company.
Um I've him and two involvedthat, but I've seen starting
with our own.
We didn't have anyone managingthem, so we kind of figured out
all the leases, um, all thetenant rules.
There's so many.
Like I always come across, itseems like, oh, can we if this
(13:30):
happens, can we do this?
Like, no, we can't do that.
I don't know, there's just somany rules around it, and so
many laws that you can't yougotta be careful that you don't
cross.
For sure.
For sure.
So are you helping out in themanagement company then, or is
it just your own properties thatyou guys are managing right
now?
Okay.
Um he has they would there's afew people at work in there that
(13:53):
actually do all that stuff.
So I'm not too familiar withthat side yet.
I've spent time if I get morefamiliar with it, but I just
started going full-time with himearlier this year.
So okay, so you are full-time inthe in the rental business with
okay.
And you and your dad buy themtogether then now, or how how is
that structured?
He is 51%, I'm 49%.
(14:14):
Nice we're doing for this year.
Awesome, man.
Uh and how did you guys come upwith that structure and what
were some things in thatdiscussion that you know you
could you could remember uhhere?
Just the way it I don't know howto explain it.
(14:35):
Because in time, um I'llprobably help with uh managing
the company more.
Okay.
That's just how we wanted toset it up to begin with.
I don't know how to explain itthen.
Yeah.
That makes sense.
I mean, and then eventuallyyour dad, if he's ready to phase
out, I'm sure he has some kindof legacy plan or some kind of
(14:58):
you know, turnover plan orsomething like that.
Now, with those properties, arethough is your buy box any
different on the ones with yourdad versus the ones that you're
buying?
And how do you separate thosetwo?
25,000 equity and 25% ROA, likeI said.
So it gives us a little more.
Obviously, when a first initialstarting, we have some cash
(15:18):
between me and my wife.
Um, but with him being donethis for so long, uh, he's a
little more cash.
So we can be a little more.
Um obviously between me and mywife, we need to have a little
bit of cash flow.
We don't we have some extracash flow, obviously, if we need
to make it work.
Yeah.
Um, but with it being a littlebit extra cash now, we can we're
looking for equity, like Isaid.
(15:39):
Okay.
So 25,000 of equity.
So it doesn't matterpercentage-wise.
You're not concerned about thepercentage of equity when you
guys are doing this?
No, just twenty initialtwenty-five thousand equity.
We're really looking to beunder two hundred thousand all
in for a house.
Obviously, one percent rent isa deal, but nice.
Somehow you can't get it.
Yeah, and then you said 25% ROI.
(16:00):
How are how do you guyscalculate the ROI?
Because I I I talked to a lotof investors and people run it a
bunch of different ways.
I'd have to look at the Excelsheet.
There's one that he already hadpre-made.
Um I could pull it up quick,but I'm I'm not 100% sure how he
has it all set up in there.
Some people look at it like cashon cash return.
(16:20):
Um, some people look at justlike the overall asset,
everything they'll factor in.
Okay.
Cool.
Yep.
Between the equity and how muchcash you have to put in it or
you get out of it.
Okay.
Well, that's cool.
That's probably that's a pretty,I would say, easy metric to
hit, but I mean it makes youguys probably more competitive
(16:41):
than maybe somebody who needs tohave a certain percentage of
equity or some of those otherthings.
Like you guys can probably pickup a lot more properties with
this type of a buy box.
Definitely.
Yeah, I think that's somethinginteresting, Eddie.
We were you were at the uh REIsuccess meeting last week,
right?
And and I thought what wasinteresting for me, so for the
audience out there, we ran uhReese from our team, put
(17:03):
together an awesomepresentation, and yeah, he had a
calculator that he created andgave out to everybody there.
Um that we'll give we'll giveto you as well if you're
interested in this, just hit meup and we'll get you that
calculator.
Uh, but what it was designed todo is really take out the
emotion from these offers,right?
And I think what's great aboutwhat you guys did here, Eddie,
(17:24):
you guys set a buy box, right?
And and if it fits the buy box,it sounds like you guys will
buy it.
Yep.
No emotion to it.
Just look at it, see if itworks, and write an offer and
see if it'll take it.
Yeah.
That's all you could do, right?
And what was interesting inthere, do you remember we had a
table that had a much higher ARVthan everybody else on this
(17:47):
same property?
So what we did is we puteverybody at tables and we gave
them all the information thatyou know people on our buyer's
list get.
And this was a real deal thatwent through our buyer's list
process.
And so we wanted it, we knewwhat the we knew what it sold
for, we knew what the rehab was,we knew all the numbers ahead
of time, and we wanted to justhave everybody at a table have
access to the information, thenthey discussed it as a table.
(18:08):
They submitted through theirlittle little calculator form,
their numbers, and then we gotto compare everybody's and kind
of have a discussion about it,which was really cool.
But one of the tables had amuch higher ARV, but their offer
was and their rehab was, Ithink their rehab was higher,
but not enough to offset likewhat their offer should have
been based on their ARV number.
And when we asked them, like,hey, why did you offer that
(18:31):
number?
They it was a feeling.
I remember they were like,Well, we just felt like we were
offering too much then becauseit was too much higher than what
the minimum suggested offer wasor something.
And we're like, that's thewhole idea of having a buy box
in this calculator.
Is you take out that emotion,that bias, right?
If your calculator says, Hey, Iwant to make 20,000 on a flip,
and your calculator says, Oh, Ican offer this number, then
(18:54):
offer that number.
Don't try to make 30,000because now all of a sudden
30,000 of a of uh 100% of zerois zero, right?
You know, you got no deal toeven make any money on.
And and so to me, that was ahopefully a big takeaway for
everybody in the audience waswas what you guys are doing.
Same thing.
Just get your buy box, whetherit's a certain profit amount you
(19:16):
need to make, a percentage,whatever it is, get your buy
box, and it and at least ifyou're competitive with your buy
box, now you can just get theemotion out of it.
Yeah.
Yeah.
And it sounds like that'sworked really well.
Your dad's got how manyproperties?
A hundred and some himself?
I think now.
Okay.
Another eight or eight or ninethis year.
Eight or nine this year, andthen you and your wife have
five, just kind of utilizing thesame strategy, right?
(19:40):
Yep, yeah, definitely.
I think 2024, me and my wife,but this is before I went full
time, we bought another four.
So kind of figure it out alittle bit.
That's awesome.
Was able to get us the nextfour.
Yeah, yeah.
So I think that's huge.
I think, you know, I see peoplea lot of times make the same
mistake, Eddie, as they're justkind of like, well, I feel like
that one's a good one, or this.
And that's why when we went tothis new process at Wisconsin
(20:02):
Discount properties, we got ridof the walkthroughs.
And a lot of people were, youknow, um in up in arms about
this.
They wanted to walk through theproperty before they put an
offer in, right?
And that's fine.
I understand why people wantthat.
And there's some um, there'ssomething to be said about
walking through a property andbeing able to like physically
see it, touch it, feel it, smellit, that kind of thing.
(20:24):
But also you get very emotionalabout it when you walk through
it.
It's all about that's a lotabout feelings, right?
Like, oh, I felt this energywhen I walked in or felt this or
whatever.
Again, for some people, if itworks for them and they're
they're hitting their numbersand they're doing great,
awesome.
My um, I guess my thought andwhat what you guys are doing,
just to back up again, makeanother point.
What you guys are doing isthere's a whole nother swath of
(20:46):
investors out there that arelike you guys.
I have my numbers, I have myareas I want to buy.
If it, if it fits in thoughthat thing, we buy it.
If not, next one.
You know, and you're justyou're just looking for deals.
You become a deal finder, thennot a deal creator, and you get
rid of all the emotion and youget rid of all of the, well,
maybe I should offer a littlebit less to try to squeeze a
(21:07):
little bit more out and all thiskind of stuff.
You just this is it.
Boom, this is what thecalculator says of what we can
offer.
And you're gonna miss some andyou're gonna get some.
Yeah, yeah.
You gotta offer a ton, you'lloffer way more than you'll
actually get.
I don't remember what there's arule of something that you put
a hundred offers, get 10.
I don't know.
I don't remember.
I just remember someone sayingit.
Yeah, it's it it it depends whoyou ask.
(21:29):
And I would argue though, youcould if you have the wrong
criteria and you have the wrongbuy box, you could offer a
hundred times and still havezero deals.
Yeah.
Right?
Like it's the truth.
Uh, I just met with one of ouremployees yesterday, and we do
try to sit down with ouremployees at least once, once a
year, twice a year to go overtheir goals and kind of what do
(21:50):
they want out of life and kindof bigger picture stuff, similar
to what what what we'll bedoing with one of our giveaways
here for the audience that I'lltalk about at the end here.
And one of the things weuncovered was the buy box that
that person has to use isdifferent than what I would
recommend, but it's based ontheir personal financial
situation right now.
And so they have to offer acertain way because of some of
(22:12):
the things that they've gonethrough in their life and and
that sort of thing.
And um, so what we advise wecame up with a different
strategy for this person, andthey're gonna hopefully be able
to change their buy box now tobe more competitive to get more
deals.
And that that was a big glaringthing for me when we sat down
and broke everything down.
Was I was like, man, I can'teven think of how many deals
(22:35):
you're probably missing out onbecause you have this life thing
that happened to you in thissituation.
But let's let's come up withsome strategy to change that so
that you can be more competitiveon these offers.
Um, and we just did a quickscenario.
It was interesting, Eddie.
We ran like what my calculatorwould be, quick math, and what
this person's calculator wouldbe based on their situation.
(22:56):
And we just picked like arandom like $300,000 ARV,
$40,000 rehab, right?
Kind of a standard deal in ourmarket, right?
And um we were fift forty-fivethousand dollars difference on
what our offers would be becauseof the buy because of the way
we were calculating things andthe way that we had to do
things.
(23:16):
And then so I just think oflike, man, that was that's
probably a thirty thousanddollar profit deal with the way
that we ran the numbers on itthat that person is missing out
on, and like how many of thosecome across our plates all the
time, and we miss out justbecause we're running the wrong
formula or the wrong calculatoror the wrong buy box, you know.
(23:36):
So that would have a mentorwith all that too.
Yeah, what was that?
You have a mentor, is that whatyou said?
Yeah, a mentor, definitely.
I would not have gotten thisfar without a mentor.
Yeah.
Well, you talk about the fear,right?
Like how many people get tothat point and then don't have
that person to like lean on thatexperience, right?
Yeah, that makes it reallyhard.
(23:57):
I I remember my first one, itwas the same thing.
Uh Tony Breuer, who a lot ofyou guys know, he owns good
faith uh funding, and he'd beenhe's in the he's been in the
game probably about the sameamount of time your dad has
been.
I think they were probably gotstarted around the same time.
And uh I remember I had myfirst one under contract and I
was excited, but I was soscared.
(24:19):
And I was like looking tosabotage it.
I was like, oh, how can I getout of this deal?
I just I just worked for threemonths to try to find an
off-market deal.
I got one, and now I'm soscared I want to try to figure
out how do I get out of thisthing.
And I remember calling him andI was freaking out.
And I was like, Tony, what do Ido?
Like, I got this deal undercontract.
What if it doesn't appraiseout?
What if I have to have all thismoney stuck into it?
(24:40):
What if I can't get like allthose fears Eddie, you talked
about, I was kind of like, yeah,okay, I can relate to that.
Um, and he's like, Well, whocares?
You'll be fine.
You're not putting 25% down andthen another bunch of money for
rehab, like even if it doesn'tappraise out, you maybe you only
have 5% stuck in a deal or 10%stuck in the deal versus you
know 25% plus rehab.
(25:00):
And I was like, oh okay.
I'm like, so should I do it?
He's like, Yeah, do it.
You're never gonna you're nevergonna start if you don't do it.
I'm like, all right, I'll doit.
But if I didn't have thatperson to call or that mentor to
lean on, probably would havebacked out eventually.
Who knows where if I'd besitting here talking to you
right now, Eddie?
You know?
Yeah.
(25:21):
I might be maybe I'd be goingfor diesel mechanic or
something, trying to find adifferent path in life.
Going forward for you guys,Eddie, what are some of the
challenges you guys have rightnow?
Um, obviously the market'sslowing down a little bit for
renters.
We're seeing a little bit ofdecline in finding tenants,
(25:42):
taking a little bit longer.
Okay.
And then the rents are kind ofleveling out or not really going
down, just leveling out.
It's not gonna be like itdoesn't seem like it's obviously
we're going into the slowertime of the year, but it seems a
little bit extra this time ofthe year.
Or this year, I should say.
Just seems like rents andrenters are um a little harder
(26:04):
to find right now.
Okay.
But I don't we're still findingit that's just taking well, it's
not like the COVID timeanymore.
You can find them in a week andit's gone.
Yeah, yeah.
We're seeing that too on ourportfolio with our I obviously I
don't do anything on theproperty management side, but I
have I I'm in communication withour management companies, and
I've been seeing that too.
(26:24):
Like we've had to drop priceson some of them that in the past
it was like we could every yearpretty much consistently bank
on at least some rent increase.
And this year we've actuallyhad to like bring it back down a
little bit just to try to getsome qualified applicants in
there.
Yeah, that's another thing iswatching the market a little
bit, see what it's doing.
Yeah.
When you run your numbers aswell and make sure it's gonna
(26:45):
work out.
Yeah.
Yeah, staying up on top oftrends, right?
So do you think you think thisis maybe deeper than just the
seasonal thing?
Um I I don't know.
It's a guess, it seems like,but it seems like it's a little
more of a like a normalslowdown.
It seems like it might stay fora little bit.
I don't know.
(27:05):
Like I said, I haven't been infor too long, but it kind of
seems like it's stay here tostay a little bit longer than
winter, but who knows?
Time will tell.
Yep.
Yeah.
I know every year this time ofyear, I get like really like, oh
man, the market's gonna crash.
What's happening?
And then like by March, I'mlike, yeah, the market rules.
(27:26):
This is awesome, right?
Yeah.
We're in like the six months ofwinter when it it's it started,
and it's it's true across theboard for a lot of things.
But I think you're right, thereis something a little deeper
here.
It feels like there is maybe aleveling off.
I don't think there's I don'tsee like a crash happening or
anything like that.
But it's definitely levelingoff.
(27:46):
Yeah, you can't bank on youknow as much appreciation or as
much rent increase as you could,I think, in years past, is what
I'm seeing.
That's my prediction anyway, ifanybody cares.
Yeah, yeah.
But that should not stop youfrom buying, right, Eddie?
It doesn't sound like that'sgonna slow you guys down.
Nope.
Just make sure you have yourright rent estimates and put in
(28:07):
your buybacks and keep moving.
Cool.
Are you guys doing anythingdifferent with what you're
seeing in the market other thanjust maybe adjusting some of the
numbers a little bit, or howare you guys pivoting right now?
This we're keeping the samenumbers, 25,000, 25% away, but
just it's really checking outthe rents, what we think we can
get and make sure we that's whatwe can get.
Cool.
Um, because I see we buy buyand we have them three months,
(28:30):
so three months could change alot.
We want to make sure I see it'sall prediction.
Yep.
Um, but you kind of gotta makesure you can get your rent.
Yeah.
How are you guys doing that?
Like, I mean, obviously you'vegot your own portfolio that you
can glean information from,right?
But when you're th when you'resaying checking rents and that
kind of thing, like what do youwhat is your guys' process
typically to try to checkaround?
(28:52):
Obviously, the property manager.
Um, I just I mean, I email himand he kind of looks around and
at what obviously he's had a lotof experience.
He's I think he's been doing itfor 10 or 11 years now.
He's a lot of experience, whathe can he'll go in and just kind
of look look at the marketaround it, you know, look at
what other houses we might haveif we have any in that area,
what they're getting for rent,the size, and kind of give me a
(29:12):
rank that's what I can go offof.
Okay.
All right.
And do you know what he'schecking, like how he's looking
these things up?
Is it just looking at Zillow andlike I said, looking at what
other ones we have on undercontract for what amount, and
then just kind of going offbased off of that, so because I
let him he'll look at like howmany bedrooms, how updated it
(29:34):
is.
Um matching it up to see what'slooking for rents for the area.
Yeah, I don't I've known peopleuse Zillow Rents or whatever.
I know um apartments.com isanother one people use.
Yeah.
Um rentometer.
You guys ever use that?
Rentometer.
Is it rentometer or rentometer?
Uh uh may rent rentometer.
Rentometer.
(29:56):
I don't know what it's called.
Rentometer, rentometer.
Either one.
Yeah.
I know we use that.
I think we throw that in our alot of our uh uh with uh if we
have a rental property or onethat could be a rental property,
I think we'll throw that reportin there for you guys as well.
So that's another one to doublecheck to.
Um, we've also just checkedwith you know our property
management companies like whatyou're doing, Eddie.
(30:17):
So for the audience out there,if you guys are working with a
property manager, you can checkwith them.
I will say this though, I haveseen in the past, you know, for
those people out there that areusing third-party management
with some of my stuff, I've hadto challenge sometimes the
property management companies topush the rents a little bit on
some of them.
You might not want to do thatnow in this current market, like
we're talking about, Eddie.
(30:37):
But sometimes, you know, doyour own due diligence too, is
what I would say on some of yourrentals.
Because sometimes they're gonnawant to, I don't want to say
take the easy button, hit theeasy button, but they want to
get people in there and dependson what they think your goals
are.
If they think your goals are toget it filled as quickly as
possible, they're gonna go alittle bit lower on the rents to
try to get a lot of qualityapplicants.
Good strategy.
(30:58):
Good strategy.
The other option to that, ifyou're looking to maximize your
rents, is you may have to askyour management company to push
that rent up a little bithigher.
So have that conversation withthem when they're gonna go list
that thing about where theythink the rents could be.
And if in your research youthink, hey, I think we can get
another hundred, two hundred,three hundred bucks on this
thing, you know.
Don't be afraid to ask them tostart there.
You can always come down onprice, right?
(31:21):
If it's not rented, it's notthe end of the world.
Um if you're okay with a littlevacancy for a little bit,
right?
Yep.
Yeah.
What do you guys typically do?
Do you know Eddie?
Do you typically just go off ofwhatever your your guy in the
office says, or do you guys playwith that number and see, you
know, hey, can we push that alittle bit?
Um, I typically go off what hesays, because he's gonna be the
(31:42):
one that's gonna be look lookingto rent it.
Okay.
Um I'll do a little bit ofresearch, and usually he's
pretty close.
Okay.
Um he's pretty good atguesstimating rents.
And I think for everyonethey've got, he's been pretty
close.
Nice.
So it's been good so far.
It's a nice resource to have,man.
(32:02):
Yeah, it's definitely helped alot in giving you more
confidence writing an offer.
For sure.
Um are you uh is the managementcompany do they only manage
your guys' portfolio or do youguys manage for outside funds as
well.
So cool.
I don't know, I don't know whatthe I don't know the exact
amount of how money they manage.
(32:24):
Um but they do manage ours plusother people's as well.
Okay.
Are they just northeastWisconsin or where do they do
their managing?
Um so they're based out ofNina, but I think they do within
a 60 mile radius, is whatthey're doing.
Okay.
So if anybody investors outthere listening, you guys are
looking for some other optionson property management, you can
talk to Eddie or or go toruralproperty management.com, I
(32:47):
would assume.
Yep.
There you go.
Go to ruralpropertymanagement.com and you guys can
get in contact with them andfind out if they might be a good
fit to help you guys managethat portfolio.
And uh obviously, you know, thefamily here, Eddie, you guys
got a lot of experience in thegame in your own personal stuff.
So I would assume you guyscould, you know, help a lot of
investors with translating thatinto you know helping them be
(33:09):
successful if they're you knowsimilar investors to you guys.
Yeah.
And then we also have anin-house team that um does the
work as well.
Oh, the rehab?
Yep, the rehab.
That is such a huge advantage,man.
I I have some uh out-of-stateinvestors that have, you know,
they live in some high-pricedareas, Denver, you know,
(33:29):
California, places like that.
And we're always looking forgood management companies to
connect them with that can dothe rehab because you know that
is just like it's not ascommonity as I would have
thought, like in other placesthat people do the rehab for
people.
I thought that's just what youdo if you're a management
company, but it sounds like someof them just manage in other
parts of the, you know, theyjust do the leases and the and
(33:49):
the background checks and thatkind of thing, and they leave
the rehab up to the investor tohave to manage.
That's I can't imagine tryingto do that from you know 1,500
miles away or whatever, right?
Yeah, that'd be a pain.
Yeah.
So that's a huge advantage forus here in Wisconsin, at least
in northeast Wisconsin.
I can't speak for a lot of theother places in Wisconsin, like
Milwaukee, Madison, Eau Claire,you know, central Wisconsin,
(34:10):
that type of thing.
But I would imagine that youknow, it seems like it's a
cultural thing here in Wisconsinthat our management companies
handle the rehab on a lot ofthese things.
So that's huge.
I mean, that that is a bigissue with flips for a lot of
people, too, is who do you getto do the work?
Right.
So you can know your ARVs andyou can know what your rehab
(34:32):
should cost, but if you don'thave anybody to actually do it,
or they're not in line with whatyou're estimating for your
rehab costs or your timeline,they just take way too long.
It throws the whole thing outof whack.
So if you have a goodmanagement company, Eddie, like
you guys, and you can turn theseproperties for people
relatively quickly, and you havean in-house person.
Now, I if I'm an investor and Idon't have to worry about who's
gonna do the work, I can justhire you guys to do the whole
(34:54):
thing, like white glove service.
That's amazing.
That's awesome.
Then it's just how many ofthose can you find, right?
It's just a matter of how manyproperties can I pick up, how
much money can I raise?
Done.
Right.
We get a pretty good idea ofwhat things cost, and they'll
(35:16):
stay consistent.
Heck yeah.
You're probably gonna have abunch of people listening to
this that will come work for younow, just so they can have
access to that team.
Yeah.
And this in-house guy, right?
That's fantastic.
Well, Eddie, this is awesome,man.
We always wrap with a funquestion, as I said.
And so, what we want, and thisis for out-of-state people, and
(35:36):
so they don't they don't know alot about Wisconsin.
We have people that want toinvest here, but they just are
like, I don't know.
Tell me a little bit aboutWisconsin.
So, besides deer huntingseason, which is right now, what
is your favorite Wisconsintradition or place to visit here
in this state?
Um, we've done a ton of hikingup by you guys, Door County.
It's always awesome views, it'sreally pretty.
(35:57):
In the summer, there's tons ofstuff to do, tons of events.
Um, we like to go up there alot.
Yeah.
A lot of hiking.
Yeah, for sure.
We're very, very blessed tohave Door County here, and I'm
even more blessed I get to livehere.
Yeah, yeah.
Oh nice, yeah.
Doesn't suck.
We'll say that.
It does get a little quiet nowthis time of year, man.
I was uh I was driving throughtown today and uh I took my
daughter on a little date thismorning.
(36:17):
We were gonna go get somebreakfast.
She was super crabby.
I was like, I'll take her for alittle date before preschool,
and we're gonna go to one of ourfavorite breakfast places,
Julie's Cafe, right here, and uhget her some birthday cake
confetti pancakes.
And um they were closed up,man.
They're only open, only openFriday, Saturday, Sunday now.
So we we are in the off seasonfor sure, so now it's a battle
(36:42):
of trying to find the placesthat stay open year-round and
all that kind of thing, but it'sall good.
Well, awesome.
Um, again, I talked about atthe start of this, guys.
We want to give back to youguys loyal listeners for
listening to the podcast.
We got a big goal.
We want to hit 500 YouTubesubscribers here by the end of
the year.
So, what we're doing, if you'regonna help us with this, my
loyal listener base, we aregonna give away some prizes.
(37:04):
Okay, one of those prizes isgonna be a one-hour coaching
session with me.
We're gonna unpack, like Italked about one of my plays,
we're gonna unpack your life.
We're gonna figure out whereyou're at, where you're trying
to go, and what are theroadblocks getting you there,
and we're gonna help strategizeon how to overcome those to
accelerate those goals.
Eddie mentioned it earlier,having a mentor.
You guys, it's so importantright now, having somebody here
(37:26):
to help shorten that learningcurve for you.
That's why you listen to thispodcast, I assume, because
you're shortening your learningcurve by listening to this
podcast every week and learningfrom awesome people like Eddie
and their experience.
We will though be able to deepdive with you personally on your
own personal goals on aone-on-one coaching session.
That's one of the prizes we'regiving away.
The other one is a $250 Amazongift card or Visa gift card, but
(37:48):
I'll say Amazon gift card.
And the other one is aWisconsin investor kit.
So we're gonna get some podcastmerch in there.
We're gonna get some uh of myfavorite investing books, maybe
some Door County coffee we'llthrow in there.
Just a little something, alittle whisky, something,
something in there.
So here's all you guys have todo to get entered into this
contest to win this, okay?
You gotta subscribe to theYouTube channel.
So if you're one of my Apple orSpotify listeners, love you
(38:11):
guys.
But go over and subscribe tothe YouTube channel as well.
Follow us on Instagram orFacebook, either one is fine.
Okay.
And then we have a pinned postthat we're gonna be putting on
there.
Well, it might even be upalready.
I'm not sure.
But you're gonna go to thatpinned post and you're gonna
comment done and tag two of yourfriends who love the show or
(38:32):
who would love the show.
Okay.
Very simple.
All right, subscribe onYouTube, go to the Facebook or
Instagram, follow it, commentdone, and tag two people in it
that would like the show.
And that's it.
And you're entered in.
All right.
Um we also are have a giveawaypost, and if you share that,
(38:52):
we're gonna give you anadditional entry into this
contest.
Okay, so go share that on yourstory, tag the Wisconsin
investor, and we'll see thattag, and we'll enter you in for
an additional um entry into thiscontest.
So that's it.
Easy peasy, Eddie.
Let's get you in this contest,buddy.
Let's get you in there.
(39:13):
Okay.
Any final any final comments orthoughts for the audience out
there?
Never know.
No.
Okay.
I think we covered it, man.
If anybody wants to get a holdof you, Eddie, or has any
questions or wants to talk toyou two about getting involved
with you guys on the managementside of things, what's the best
way for them to reach you?
Uh, probably by email or a phonenumber, whichever one.
(39:33):
Uh yeah.
If ever seeds call the mainphone at rural property
management.
And then they'll direct youover.
Awesome.
All right.
There you guys have it.
We'll put that in the shownotes of rural property
management.com.
You guys can go click on it ifyou want to click on it, or just
go search it up.
I'm sure it'll come right up onyour Google searches.
And um, guys, looking forwardto seeing that subscriber list
(39:55):
grow before the next episode.
I appreciate you guys all forlistening, and we will see you
on the next show.
What's going on, everybody?
Corey Reyment, your host hereof the Wisconsin Investor
Podcast.
And uh we, as usual, haveanother amazing episode we're
about to bring you guys herepost-Thanksgiving.
So hopefully all y'all had agreat Thanksgiving and you're
stuffed with uh with good timesand turkey.
And um, you didn't put on toomany pounds over last week here.
So uh also I want to announcesomething here on the last
(01:41):
episode.
I brought I talked about thisas well, but hang on to the end
of today's episode.
I'm gonna be talking about howyou're gonna get in uh be able
to get involved in a littlegiveaway that we're doing.
So you're we're gonna get threedifferent winners here, and
we're gonna announce them onJanuary 1st.
And so you're gonna want tohang on to the end of the
episode to figure out how do youget entered in to win those
(02:02):
prizes, and you're not gonnawant to miss what those prizes
are.
You're gonna want to be in onthose things, right?
Eddie, Eddie doesn't even knowwhat they are yet.
Nope, not yet.
He's gonna he's gonna hang onto the end, too, I hope, and
we'll figure it out.
So, with that, let me bring inour guest for today's episode.
I got Eddie Eisman here withme.
Eddie, what's going on, man?
How are you doing?
Pretty good.
Didn't kill you.
So that was unfortunate.
But yeah.
Well, at the time we'rerecording this, I did say, you
(02:26):
know, happy Thanksgiving, but westill have we still have some
time at the time of recordingthis to uh get you a deer.
So yes, that is a greatWisconsin tradition.
So I usually ask that at theend of the uh end of the call,
favorite Wisconsin tradition,but gun deer season is one of
those top top-notch uhtraditions, wouldn't you say?
Yeah, definitely.
So yeah.
(02:46):
Well, I'm excited to have youon, man.
You uh you've got quite aninteresting story here and some
family history and things likethat.
Tell everybody a little bitabout how you got started in
this real estate thing, becauseI think uh you've got a little
different perspective maybe thana lot of other folks that have
gotten started in it.
Speaker 2 (03:03):
Yeah, so I've always been around real estate pretty
much my entire life since I wasa kid.
My dad's been investing forabout 30 years now.
Um I am 31.
Um and when I was a kid, I washelping him with little
projects.
He'd always bring me to hishouses after he didn't start out
with the management and allthat stuff, so he's always
bringing that himself.
Yeah.
So he'd always be bringing meto like the project sites with
(03:23):
helping him with small stuff.
So I've always been kind ofaround it.
Um then I first he was actuallymy first job working for his
management company, kind ofdoing like maintenance stuff,
cleanouts, cutting grass.
Um it was kind of just a job atthe time I didn't think of much
of investing at that point.
Yeah.
Um while I was doing that, Iwas actually going for my
automotive and diesel degree aswell.
(03:45):
So I was a diesel mechanic forabout five years.
Okay.
And in that time, I think 2021is when me and my wife bought
our first rental property.
Speaker 1 (03:56):
Okay.
So what was that shift for you,Eddie?
When did you go from like, hey,I'm gonna be I'm gonna go down
this diesel mechanic path tolike I'm gonna dive into this
family business thing full time?
Yeah, diesel being a dieselmechanic is kind of sounded fun
at the time.
And then as I was going, I waslike, man, this is starting to
get you know, it's just kind ofgetting sore.
I obviously five years fiveyears, people are gonna be like,
(04:18):
uh, I've done it for 20, 30years.
And but and then just kind ofit seems like having a job, you
know, you have a cap on how muchyou can make.
Sure.
And then we're planning onhaving a kid eventually.
Um, it'd be nice to spend moretime with them.
Nice.
So you were looking more so longterm for you, it sounds like
like the body piece of it was abig piece of it for you.
So the decent mechanic thing.
Okay.
(04:39):
Yeah.
I I've never uh I'm not veryhandy.
So I Yeah, I've always likedworking my hands.
Yeah.
That that to me, I I I wouldlike it.
I feel like I would earn my mancard a little more if uh if I
was a little more handy than Iam.
But um, I did this morning,Eddie.
I did win some husband of theyear awards by getting the
(05:01):
toilet unplugged for my wife.
Yeah, she didn't put she didn'tplug it.
It was one of the kids, okay.
But but she she I did unplugit.
So I can I can plunge toilets,which is uh a new skill set that
I think I could put on myresume if I ever need to.
Um so your dad, talk about yourdad.
So he's he was all he's also anattorney, correct?
(05:21):
Yeah, he's also an attorney.
He's been I guess I don't evenknow how long he's been an
attorney for.
He's had his own law firm.
Um he started rule, and I don'teven know.
Ten or ten years ago, I want tosay.
Speaker 2 (05:34):
Okay.
Speaker 1 (05:35):
And he's done pretty much anything, like multifamily,
running starting his own lawfirm, all that fun stuff.
Nice.
What were some of the lessonsthat you learned from that?
I mean, seeing your dad startthese things, you know, kind of
from the ground up and from youbasically being ingrained in it.
Are there anything now that youlook back that you're like, oh
yeah, like that that'sdefinitely a lesson I learned in
(05:55):
the process, or you know,anything like that that you
gleaned from your dad divinginto this, you know, this
business on a couple differentfronts, right?
From the attorney side and fromand from the uh property
management side.
Um obviously he's seen it like Isaw it's been kind of a help
with him because obviously hesees things like that won't
work, or he's had he's he's hadtroubles with before.
(06:18):
Like he always has these um Idon't know, why can't I think of
it?
Um rules or regul or alwayswrit all everything's written
down on what to do if thishappens, or I can always go to
him like, oh don't do this, likeI had this happen, this is why.
He's got a whole list of likeexperien like from experience of
things going maybe wrong or badthat you can just go to big
(06:43):
help with growing there, andobviously that's one another
reason I kind of jump took thejump when I got started back
till in twenty-one is I knew Inoticed you was nervous as hell.
Yeah, what even with all thathelp, but I knew we could figure
it out.
Yeah, worst case you got you gotpops that can help at least
give you some uh some advice onon what not to do, right?
(07:05):
Or what to do.
Like you kind of gotta figureit yourself.
That's great, man.
That's awesome.
Versus I I I I think that'sprobably a huge advantage you
have versus him just handing youthe keys.
Definitely.
Yeah, that's great.
Yeah, that's awesome, man.
Um, what was I gonna ask youabout, Eddie, on that?
(07:27):
There was something I wanted togo into with that whole
experience thing.
Um oh, what were your bigfears?
So you talk about like, man, Iwas really scared on that first
one.
You saw your dad do this withhowever many properties,
everybody has like over ahundred units or something,
right?
Yeah, right around there.
And you saw him do this likeprobably like it was like like
in his sleep, he's probablybuying properties.
(07:47):
Yeah, pretty much, yeah.
So were you diving in thatfirst one?
Do you remember?
Like, I know it was alreadyfour years ago, but like what
were some of the what were someof the fears you had going into
that?
I think more just the financialworry, like just worrying that
it's not gonna work out, orsomething we're gonna get sued,
or um if we can't, like if wecan't find tenants, it is just
(08:08):
all that kind of first investorstuff.
Um more in my mind than alsotrying to convince my wife that
it's a good idea.
So she what was her sentimentwhen you guys were getting into
this?
Was she uh was she just makingsure it's gonna work?
Okay.
Were you guys both on boardwhen you decided?
Like, how did that decisioncome to be for you guys that you
were gonna go ahead and start?
(08:29):
Like, do you remember thatdecision like how did that first
conversation go?
Was it her idea?
Was it your idea?
And how did you guys go fromstarting that conversation to
actually taking action on it?
It was kind of talking with mydad.
Um, we kind of just havemeetings with just kind of
financial meetings, just goingover stuff in life in general.
Um, where we're looking, like,you know, we could have there's
(08:50):
houses for sale, like it seemslike obviously you can see where
I've been at.
Um I can help you along theway.
Um that's kind of just how itstarted.
He kind of started the idea,and then I started we started
looking into a little bit more,like all this could probably
work and time, like when we havekids.
Back then we didn't have any.
Um we we'd be able to have moretime to spend with them and
more money to go on trips perse.
(09:11):
Okay.
So you guys kind of were youguys were having these financial
meetings with your dad or justyou and your wife?
Yeah, I just kind of we have uspointers.
Um That's awesome.
Market stuff like that, justkind of keep up to date.
That's cool.
That's awesome that he doesthat for you guys.
Sits down.
What are some of the lessonsyou've learned through those
those meetings?
Anything that our audiencecould could glean, you know,
(09:34):
inside your your family meetingsa little bit, your family
meeting structure, or anythingthat he's talked about with you
guys that you're like, oh, thatwas a big aha moment for us that
changed some things.
Just trying to keep update, likewatching your numbers, don't
let them slip away.
I don't know how to explain it.
(09:54):
Um keep update with yournumbers.
Um I've seen invest investingkeeps up like the stock market,
we've quite a bit in there.
Um, but don't get too honed inon the numbers right now.
Eventually, theoretically, theyalways go up.
Don't worry about the dips.
Okay.
I don't tend to watch it toomuch.
(10:15):
It just eventually go up andhaven't an issue there yet.
So you're not trying to timethe market basically, pulling in
and out and playing the market,you're just set forget as it as
it's maybe towards the tireage, but yeah, not too worried
about it right now.
Is that similar then to whyreal estate was appealing to you
guys too?
Is that it's kind of a similarthing?
Hey, I can buy these propertiesand not necessarily set them
(10:36):
forget, and they're a littlemore active than stocks.
Just to make make basicallylong-term wealth gaining.
We're not looking for cash flowright now, um, but just
long-term wealth gain is whatwe're looking for right now.
Right on.
So when you're when you'reevaluating a property, that's
what you're looking for, islike, is this gonna fit our
wealth bucket?
Not necessarily like a cash perdoor type of uh uh Yeah, we're
(11:00):
really looking for the initialequity and then the ROI.
Okay.
But I mean, if we have to put alittle bit in each month,
obviously you can't lose a toneach month.
Yeah, um, but uh the value ofit going up over time and then
your loan pay down is all taxefficient for us.
For sure.
Yeah, and the tax benefits.
We didn't talk about that,right?
(11:21):
You know, I was just I was justreading some things this last
week about um the dollar and howyou know inflation, uh people
people who you know, and theypeople have different degrees of
risk tolerance, right?
And so you and I sound likewe're very okay with debt and
smart debt, right?
Smart debt.
I'm not saying go get creditcards here and have that kind of
(11:42):
debt, but like smart debt.
And what it is, it's like it'sreally a hedge against
inflation, right?
And so there's you know, thedollar, the dollar that we have
today is gonna be worth lesstomorrow, right?
And that's just the nature ofthe beast.
But if you have an asset thatyou can leverage debt against,
right, you're borrowing attoday's cheap dollar, cheaper
dollar, right?
And it's gonna get less andless valuable every day.
(12:04):
And if you're locked in on aperiod of time, those payments,
right, essentially paying downthat, you're having your tenants
pay that debt down, theproperty's appreciating
hopefully at or above theinflation rate, and you're
you're basically using otherpeople's money to create wealth.
And this is every wealthyperson out there.
I don't know a lot of wealthypeople that don't leverage debt,
(12:26):
right?
I mean, yeah, it's verydifficult to try to be a cash
person and really um scaleanything of significance.
Obviously, there's risk, right?
When you when you leveragedebt, there's risk with it.
But um, you know, if you'retrying to do everything cash and
just I'm gonna pay all myproperties off and do all this
sort of stuff, for the averagemajority of people out there,
(12:49):
that's gonna be uh almostimpossible goal to try to
achieve and and really buildanything of significance in the
long run, right?
Yeah.
Yeah.
Yeah.
So the management, talk aboutthe management side of things a
little bit, Eddie.
So you um is your your wife isinvolved in the management
company as well, or is it justyou involved in that?
(13:09):
She and she's involved with ourfive properties.
Um Kevin, he's the one thatstarted his management company.
Um I've him and two involvedthat, but I've seen starting
with our own.
We didn't have anyone managingthem, so we kind of figured out
all the leases, um, all thetenant rules.
There's so many.
Like I always come across, itseems like, oh, can we if this
(13:30):
happens, can we do this?
Like, no, we can't do that.
I don't know, there's just somany rules around it, and so
many laws that you can't yougotta be careful that you don't
cross.
For sure.
For sure.
So are you helping out in themanagement company then, or is
it just your own properties thatyou guys are managing right
now?
Okay.
Um he has they would there's afew people at work in there that
(13:53):
actually do all that stuff.
So I'm not too familiar withthat side yet.
I've spent time if I get morefamiliar with it, but I just
started going full-time with himearlier this year.
So okay, so you are full-time inthe in the rental business with
okay.
And you and your dad buy themtogether then now, or how how is
that structured?
He is 51%, I'm 49%.
(14:14):
Nice we're doing for this year.
Awesome, man.
Uh and how did you guys come upwith that structure and what
were some things in thatdiscussion that you know you
could you could remember uhhere?
Just the way it I don't know howto explain it.
(14:35):
Because in time, um I'llprobably help with uh managing
the company more.
Okay.
That's just how we wanted toset it up to begin with.
I don't know how to explain itthen.
Yeah.
That makes sense.
I mean, and then eventuallyyour dad, if he's ready to phase
out, I'm sure he has some kindof legacy plan or some kind of
(14:58):
you know, turnover plan orsomething like that.
Now, with those properties, arethough is your buy box any
different on the ones with yourdad versus the ones that you're
buying?
And how do you separate thosetwo?
25,000 equity and 25% ROA, likeI said.
So it gives us a little more.
Obviously, when a first initialstarting, we have some cash
(15:18):
between me and my wife.
Um, but with him being donethis for so long, uh, he's a
little more cash.
So we can be a little more.
Um obviously between me and mywife, we need to have a little
bit of cash flow.
We don't we have some extracash flow, obviously, if we need
to make it work.
Yeah.
Um, but with it being a littlebit extra cash now, we can we're
looking for equity, like Isaid.
(15:39):
Okay.
So 25,000 of equity.
So it doesn't matterpercentage-wise.
You're not concerned about thepercentage of equity when you
guys are doing this?
No, just twenty initialtwenty-five thousand equity.
We're really looking to beunder two hundred thousand all
in for a house.
Obviously, one percent rent isa deal, but nice.
Somehow you can't get it.
Yeah, and then you said 25% ROI.
(16:00):
How are how do you guyscalculate the ROI?
Because I I I talked to a lotof investors and people run it a
bunch of different ways.
I'd have to look at the Excelsheet.
There's one that he already hadpre-made.
Um I could pull it up quick,but I'm I'm not 100% sure how he
has it all set up in there.
Some people look at it like cashon cash return.
(16:20):
Um, some people look at justlike the overall asset,
everything they'll factor in.
Okay.
Cool.
Yep.
Between the equity and how muchcash you have to put in it or
you get out of it.
Okay.
Well, that's cool.
That's probably that's a pretty,I would say, easy metric to
hit, but I mean it makes youguys probably more competitive
(16:41):
than maybe somebody who needs tohave a certain percentage of
equity or some of those otherthings.
Like you guys can probably pickup a lot more properties with
this type of a buy box.
Definitely.
Yeah, I think that's somethinginteresting, Eddie.
We were you were at the uh REIsuccess meeting last week,
right?
And and I thought what wasinteresting for me, so for the
audience out there, we ran uhReese from our team, put
(17:03):
together an awesomepresentation, and yeah, he had a
calculator that he created andgave out to everybody there.
Um that we'll give we'll giveto you as well if you're
interested in this, just hit meup and we'll get you that
calculator.
Uh, but what it was designed todo is really take out the
emotion from these offers,right?
And I think what's great aboutwhat you guys did here, Eddie,
(17:24):
you guys set a buy box, right?
And and if it fits the buy box,it sounds like you guys will
buy it.
Yep.
No emotion to it.
Just look at it, see if itworks, and write an offer and
see if it'll take it.
Yeah.
That's all you could do, right?
And what was interesting inthere, do you remember we had a
table that had a much higher ARVthan everybody else on this
(17:47):
same property?
So what we did is we puteverybody at tables and we gave
them all the information thatyou know people on our buyer's
list get.
And this was a real deal thatwent through our buyer's list
process.
And so we wanted it, we knewwhat the we knew what it sold
for, we knew what the rehab was,we knew all the numbers ahead
of time, and we wanted to justhave everybody at a table have
access to the information, thenthey discussed it as a table.
(18:08):
They submitted through theirlittle little calculator form,
their numbers, and then we gotto compare everybody's and kind
of have a discussion about it,which was really cool.
But one of the tables had amuch higher ARV, but their offer
was and their rehab was, Ithink their rehab was higher,
but not enough to offset likewhat their offer should have
been based on their ARV number.
And when we asked them, like,hey, why did you offer that
(18:31):
number?
They it was a feeling.
I remember they were like,Well, we just felt like we were
offering too much then becauseit was too much higher than what
the minimum suggested offer wasor something.
And we're like, that's thewhole idea of having a buy box
in this calculator.
Is you take out that emotion,that bias, right?
If your calculator says, Hey, Iwant to make 20,000 on a flip,
and your calculator says, Oh, Ican offer this number, then
(18:54):
offer that number.
Don't try to make 30,000because now all of a sudden
30,000 of a of uh 100% of zerois zero, right?
You know, you got no deal toeven make any money on.
And and so to me, that was ahopefully a big takeaway for
everybody in the audience waswas what you guys are doing.
Same thing.
Just get your buy box, whetherit's a certain profit amount you
(19:16):
need to make, a percentage,whatever it is, get your buy
box, and it and at least ifyou're competitive with your buy
box, now you can just get theemotion out of it.
Yeah.
Yeah.
And it sounds like that'sworked really well.
Your dad's got how manyproperties?
A hundred and some himself?
I think now.
Okay.
Another eight or eight or ninethis year.
Eight or nine this year, andthen you and your wife have
five, just kind of utilizing thesame strategy, right?
(19:40):
Yep, yeah, definitely.
I think 2024, me and my wife,but this is before I went full
time, we bought another four.
So kind of figure it out alittle bit.
That's awesome.
Was able to get us the nextfour.
Yeah, yeah.
So I think that's huge.
I think, you know, I see peoplea lot of times make the same
mistake, Eddie, as they're justkind of like, well, I feel like
that one's a good one, or this.
And that's why when we went tothis new process at Wisconsin
(20:02):
Discount properties, we got ridof the walkthroughs.
And a lot of people were, youknow, um in up in arms about
this.
They wanted to walk through theproperty before they put an
offer in, right?
And that's fine.
I understand why people wantthat.
And there's some um, there'ssomething to be said about
walking through a property andbeing able to like physically
see it, touch it, feel it, smellit, that kind of thing.
(20:24):
But also you get very emotionalabout it when you walk through
it.
It's all about that's a lotabout feelings, right?
Like, oh, I felt this energywhen I walked in or felt this or
whatever.
Again, for some people, if itworks for them and they're
they're hitting their numbersand they're doing great,
awesome.
My um, I guess my thought andwhat what you guys are doing,
just to back up again, makeanother point.
What you guys are doing isthere's a whole nother swath of
(20:46):
investors out there that arelike you guys.
I have my numbers, I have myareas I want to buy.
If it, if it fits in thoughthat thing, we buy it.
If not, next one.
You know, and you're justyou're just looking for deals.
You become a deal finder, thennot a deal creator, and you get
rid of all the emotion and youget rid of all of the, well,
maybe I should offer a littlebit less to try to squeeze a
(21:07):
little bit more out and all thiskind of stuff.
You just this is it.
Boom, this is what thecalculator says of what we can
offer.
And you're gonna miss some andyou're gonna get some.
Yeah, yeah.
You gotta offer a ton, you'lloffer way more than you'll
actually get.
I don't remember what there's arule of something that you put
a hundred offers, get 10.
I don't know.
I don't remember.
I just remember someone sayingit.
Yeah, it's it it it depends whoyou ask.
(21:29):
And I would argue though, youcould if you have the wrong
criteria and you have the wrongbuy box, you could offer a
hundred times and still havezero deals.
Yeah.
Right?
Like it's the truth.
Uh, I just met with one of ouremployees yesterday, and we do
try to sit down with ouremployees at least once, once a
year, twice a year to go overtheir goals and kind of what do
(21:50):
they want out of life and kindof bigger picture stuff, similar
to what what what we'll bedoing with one of our giveaways
here for the audience that I'lltalk about at the end here.
And one of the things weuncovered was the buy box that
that person has to use isdifferent than what I would
recommend, but it's based ontheir personal financial
situation right now.
And so they have to offer acertain way because of some of
(22:12):
the things that they've gonethrough in their life and and
that sort of thing.
And um, so what we advise wecame up with a different
strategy for this person, andthey're gonna hopefully be able
to change their buy box now tobe more competitive to get more
deals.
And that that was a big glaringthing for me when we sat down
and broke everything down.
Was I was like, man, I can'teven think of how many deals
(22:35):
you're probably missing out onbecause you have this life thing
that happened to you in thissituation.
But let's let's come up withsome strategy to change that so
that you can be more competitiveon these offers.
Um, and we just did a quickscenario.
It was interesting, Eddie.
We ran like what my calculatorwould be, quick math, and what
this person's calculator wouldbe based on their situation.
(22:56):
And we just picked like arandom like $300,000 ARV,
$40,000 rehab, right?
Kind of a standard deal in ourmarket, right?
And um we were fift forty-fivethousand dollars difference on
what our offers would be becauseof the buy because of the way
we were calculating things andthe way that we had to do
things.
(23:16):
And then so I just think oflike, man, that was that's
probably a thirty thousanddollar profit deal with the way
that we ran the numbers on itthat that person is missing out
on, and like how many of thosecome across our plates all the
time, and we miss out justbecause we're running the wrong
formula or the wrong calculatoror the wrong buy box, you know.
(23:36):
So that would have a mentorwith all that too.
Yeah, what was that?
You have a mentor, is that whatyou said?
Yeah, a mentor, definitely.
I would not have gotten thisfar without a mentor.
Yeah.
Well, you talk about the fear,right?
Like how many people get tothat point and then don't have
that person to like lean on thatexperience, right?
Yeah, that makes it reallyhard.
(23:57):
I I remember my first one, itwas the same thing.
Uh Tony Breuer, who a lot ofyou guys know, he owns good
faith uh funding, and he'd beenhe's in the he's been in the
game probably about the sameamount of time your dad has
been.
I think they were probably gotstarted around the same time.
And uh I remember I had myfirst one under contract and I
was excited, but I was soscared.
(24:19):
And I was like looking tosabotage it.
I was like, oh, how can I getout of this deal?
I just I just worked for threemonths to try to find an
off-market deal.
I got one, and now I'm soscared I want to try to figure
out how do I get out of thisthing.
And I remember calling him andI was freaking out.
And I was like, Tony, what do Ido?
Like, I got this deal undercontract.
What if it doesn't appraiseout?
What if I have to have all thismoney stuck into it?
(24:40):
What if I can't get like allthose fears Eddie, you talked
about, I was kind of like, yeah,okay, I can relate to that.
Um, and he's like, Well, whocares?
You'll be fine.
You're not putting 25% down andthen another bunch of money for
rehab, like even if it doesn'tappraise out, you maybe you only
have 5% stuck in a deal or 10%stuck in the deal versus you
know 25% plus rehab.
(25:00):
And I was like, oh okay.
I'm like, so should I do it?
He's like, Yeah, do it.
You're never gonna you're nevergonna start if you don't do it.
I'm like, all right, I'll doit.
But if I didn't have thatperson to call or that mentor to
lean on, probably would havebacked out eventually.
Who knows where if I'd besitting here talking to you
right now, Eddie?
You know?
Yeah.
(25:21):
I might be maybe I'd be goingfor diesel mechanic or
something, trying to find adifferent path in life.
Going forward for you guys,Eddie, what are some of the
challenges you guys have rightnow?
Um, obviously the market'sslowing down a little bit for
renters.
We're seeing a little bit ofdecline in finding tenants,
(25:42):
taking a little bit longer.
Okay.
And then the rents are kind ofleveling out or not really going
down, just leveling out.
It's not gonna be like itdoesn't seem like it's obviously
we're going into the slowertime of the year, but it seems a
little bit extra this time ofthe year.
Or this year, I should say.
Just seems like rents andrenters are um a little harder
(26:04):
to find right now.
Okay.
But I don't we're still findingit that's just taking well, it's
not like the COVID timeanymore.
You can find them in a week andit's gone.
Yeah, yeah.
We're seeing that too on ourportfolio with our I obviously I
don't do anything on theproperty management side, but I
have I I'm in communication withour management companies, and
I've been seeing that too.
(26:24):
Like we've had to drop priceson some of them that in the past
it was like we could every yearpretty much consistently bank
on at least some rent increase.
And this year we've actuallyhad to like bring it back down a
little bit just to try to getsome qualified applicants in
there.
Yeah, that's another thing iswatching the market a little
bit, see what it's doing.
Yeah.
When you run your numbers aswell and make sure it's gonna
(26:45):
work out.
Yeah.
Yeah, staying up on top oftrends, right?
So do you think you think thisis maybe deeper than just the
seasonal thing?
Um I I don't know.
It's a guess, it seems like,but it seems like it's a little
more of a like a normalslowdown.
It seems like it might stay fora little bit.
I don't know.
(27:05):
Like I said, I haven't been infor too long, but it kind of
seems like it's stay here tostay a little bit longer than
winter, but who knows?
Time will tell.
Yep.
Yeah.
I know every year this time ofyear, I get like really like, oh
man, the market's gonna crash.
What's happening?
And then like by March, I'mlike, yeah, the market rules.
(27:26):
This is awesome, right?
Yeah.
We're in like the six months ofwinter when it it's it started,
and it's it's true across theboard for a lot of things.
But I think you're right, thereis something a little deeper
here.
It feels like there is maybe aleveling off.
I don't think there's I don'tsee like a crash happening or
anything like that.
But it's definitely levelingoff.
(27:46):
Yeah, you can't bank on youknow as much appreciation or as
much rent increase as you could,I think, in years past, is what
I'm seeing.
That's my prediction anyway, ifanybody cares.
Yeah, yeah.
But that should not stop youfrom buying, right, Eddie?
It doesn't sound like that'sgonna slow you guys down.
Nope.
Just make sure you have yourright rent estimates and put in
(28:07):
your buybacks and keep moving.
Cool.
Are you guys doing anythingdifferent with what you're
seeing in the market other thanjust maybe adjusting some of the
numbers a little bit, or howare you guys pivoting right now?
This we're keeping the samenumbers, 25,000, 25% away, but
just it's really checking outthe rents, what we think we can
get and make sure we that's whatwe can get.
Cool.
Um, because I see we buy buyand we have them three months,
(28:30):
so three months could change alot.
We want to make sure I see it'sall prediction.
Yep.
Um, but you kind of gotta makesure you can get your rent.
Yeah.
How are you guys doing that?
Like, I mean, obviously you'vegot your own portfolio that you
can glean information from,right?
But when you're th when you'resaying checking rents and that
kind of thing, like what do youwhat is your guys' process
typically to try to checkaround?
(28:52):
Obviously, the property manager.
Um, I just I mean, I email himand he kind of looks around and
at what obviously he's had a lotof experience.
He's I think he's been doing itfor 10 or 11 years now.
He's a lot of experience, whathe can he'll go in and just kind
of look look at the marketaround it, you know, look at
what other houses we might haveif we have any in that area,
what they're getting for rent,the size, and kind of give me a
(29:12):
rank that's what I can go offof.
Okay.
All right.
And do you know what he'schecking, like how he's looking
these things up?
Is it just looking at Zillow andlike I said, looking at what
other ones we have on undercontract for what amount, and
then just kind of going offbased off of that, so because I
let him he'll look at like howmany bedrooms, how updated it
(29:34):
is.
Um matching it up to see what'slooking for rents for the area.
Yeah, I don't I've known peopleuse Zillow Rents or whatever.
I know um apartments.com isanother one people use.
Yeah.
Um rentometer.
You guys ever use that?
Rentometer.
Is it rentometer or rentometer?
Uh uh may rent rentometer.
Rentometer.
(29:56):
I don't know what it's called.
Rentometer, rentometer.
Either one.
Yeah.
I know we use that.
I think we throw that in our alot of our uh uh with uh if we
have a rental property or onethat could be a rental property,
I think we'll throw that reportin there for you guys as well.
So that's another one to doublecheck to.
Um, we've also just checkedwith you know our property
management companies like whatyou're doing, Eddie.
(30:17):
So for the audience out there,if you guys are working with a
property manager, you can checkwith them.
I will say this though, I haveseen in the past, you know, for
those people out there that areusing third-party management
with some of my stuff, I've hadto challenge sometimes the
property management companies topush the rents a little bit on
some of them.
You might not want to do thatnow in this current market, like
we're talking about, Eddie.
(30:37):
But sometimes, you know, doyour own due diligence too, is
what I would say on some of yourrentals.
Because sometimes they're gonnawant to, I don't want to say
take the easy button, hit theeasy button, but they want to
get people in there and dependson what they think your goals
are.
If they think your goals are toget it filled as quickly as
possible, they're gonna go alittle bit lower on the rents to
try to get a lot of qualityapplicants.
Good strategy.
(30:58):
Good strategy.
The other option to that, ifyou're looking to maximize your
rents, is you may have to askyour management company to push
that rent up a little bithigher.
So have that conversation withthem when they're gonna go list
that thing about where theythink the rents could be.
And if in your research youthink, hey, I think we can get
another hundred, two hundred,three hundred bucks on this
thing, you know.
Don't be afraid to ask them tostart there.
You can always come down onprice, right?
(31:21):
If it's not rented, it's notthe end of the world.
Um if you're okay with a littlevacancy for a little bit,
right?
Yep.
Yeah.
What do you guys typically do?
Do you know Eddie?
Do you typically just go off ofwhatever your your guy in the
office says, or do you guys playwith that number and see, you
know, hey, can we push that alittle bit?
Um, I typically go off what hesays, because he's gonna be the
(31:42):
one that's gonna be look lookingto rent it.
Okay.
Um I'll do a little bit ofresearch, and usually he's
pretty close.
Okay.
Um he's pretty good atguesstimating rents.
And I think for everyonethey've got, he's been pretty
close.
Nice.
So it's been good so far.
It's a nice resource to have,man.
(32:02):
Yeah, it's definitely helped alot in giving you more
confidence writing an offer.
For sure.
Um are you uh is the managementcompany do they only manage
your guys' portfolio or do youguys manage for outside funds as
well.
So cool.
I don't know, I don't know whatthe I don't know the exact
amount of how money they manage.
(32:24):
Um but they do manage ours plusother people's as well.
Okay.
Are they just northeastWisconsin or where do they do
their managing?
Um so they're based out ofNina, but I think they do within
a 60 mile radius, is whatthey're doing.
Okay.
So if anybody investors outthere listening, you guys are
looking for some other optionson property management, you can
talk to Eddie or or go toruralproperty management.com, I
(32:47):
would assume.
Yep.
There you go.
Go to ruralpropertymanagement.com and you guys can
get in contact with them andfind out if they might be a good
fit to help you guys managethat portfolio.
And uh obviously, you know, thefamily here, Eddie, you guys
got a lot of experience in thegame in your own personal stuff.
So I would assume you guyscould, you know, help a lot of
investors with translating thatinto you know helping them be
(33:09):
successful if they're you knowsimilar investors to you guys.
Yeah.
And then we also have anin-house team that um does the
work as well.
Oh, the rehab?
Yep, the rehab.
That is such a huge advantage,man.
I I have some uh out-of-stateinvestors that have, you know,
they live in some high-pricedareas, Denver, you know,
(33:29):
California, places like that.
And we're always looking forgood management companies to
connect them with that can dothe rehab because you know that
is just like it's not ascommonity as I would have
thought, like in other placesthat people do the rehab for
people.
I thought that's just what youdo if you're a management
company, but it sounds like someof them just manage in other
parts of the, you know, theyjust do the leases and the and
(33:49):
the background checks and thatkind of thing, and they leave
the rehab up to the investor tohave to manage.
That's I can't imagine tryingto do that from you know 1,500
miles away or whatever, right?
Yeah, that'd be a pain.
Yeah.
So that's a huge advantage forus here in Wisconsin, at least
in northeast Wisconsin.
I can't speak for a lot of theother places in Wisconsin, like
Milwaukee, Madison, Eau Claire,you know, central Wisconsin,
(34:10):
that type of thing.
But I would imagine that youknow, it seems like it's a
cultural thing here in Wisconsinthat our management companies
handle the rehab on a lot ofthese things.
So that's huge.
I mean, that that is a bigissue with flips for a lot of
people, too, is who do you getto do the work?
Right.
So you can know your ARVs andyou can know what your rehab
(34:32):
should cost, but if you don'thave anybody to actually do it,
or they're not in line with whatyou're estimating for your
rehab costs or your timeline,they just take way too long.
It throws the whole thing outof whack.
So if you have a goodmanagement company, Eddie, like
you guys, and you can turn theseproperties for people
relatively quickly, and you havean in-house person.
Now, I if I'm an investor and Idon't have to worry about who's
gonna do the work, I can justhire you guys to do the whole
(34:54):
thing, like white glove service.
That's amazing.
That's awesome.
Then it's just how many ofthose can you find, right?
It's just a matter of how manyproperties can I pick up, how
much money can I raise?
Done.
Right.
We get a pretty good idea ofwhat things cost, and they'll
(35:16):
stay consistent.
Heck yeah.
You're probably gonna have abunch of people listening to
this that will come work for younow, just so they can have
access to that team.
Yeah.
And this in-house guy, right?
That's fantastic.
Well, Eddie, this is awesome,man.
We always wrap with a funquestion, as I said.
And so, what we want, and thisis for out-of-state people, and
(35:36):
so they don't they don't know alot about Wisconsin.
We have people that want toinvest here, but they just are
like, I don't know.
Tell me a little bit aboutWisconsin.
So, besides deer huntingseason, which is right now, what
is your favorite Wisconsintradition or place to visit here
in this state?
Um, we've done a ton of hikingup by you guys, Door County.
It's always awesome views, it'sreally pretty.
(35:57):
In the summer, there's tons ofstuff to do, tons of events.
Um, we like to go up there alot.
Yeah.
A lot of hiking.
Yeah, for sure.
We're very, very blessed tohave Door County here, and I'm
even more blessed I get to livehere.
Yeah, yeah.
Oh nice, yeah.
Doesn't suck.
We'll say that.
It does get a little quiet nowthis time of year, man.
I was uh I was driving throughtown today and uh I took my
daughter on a little date thismorning.
(36:17):
We were gonna go get somebreakfast.
She was super crabby.
I was like, I'll take her for alittle date before preschool,
and we're gonna go to one of ourfavorite breakfast places,
Julie's Cafe, right here, and uhget her some birthday cake
confetti pancakes.
And um they were closed up,man.
They're only open, only openFriday, Saturday, Sunday now.
So we we are in the off seasonfor sure, so now it's a battle
(36:42):
of trying to find the placesthat stay open year-round and
all that kind of thing, but it'sall good.
Well, awesome.
Um, again, I talked about atthe start of this, guys.
We want to give back to youguys loyal listeners for
listening to the podcast.
We got a big goal.
We want to hit 500 YouTubesubscribers here by the end of
the year.
So, what we're doing, if you'regonna help us with this, my
loyal listener base, we aregonna give away some prizes.
(37:04):
Okay, one of those prizes isgonna be a one-hour coaching
session with me.
We're gonna unpack, like Italked about one of my plays,
we're gonna unpack your life.
We're gonna figure out whereyou're at, where you're trying
to go, and what are theroadblocks getting you there,
and we're gonna help strategizeon how to overcome those to
accelerate those goals.
Eddie mentioned it earlier,having a mentor.
You guys, it's so importantright now, having somebody here
(37:26):
to help shorten that learningcurve for you.
That's why you listen to thispodcast, I assume, because
you're shortening your learningcurve by listening to this
podcast every week and learningfrom awesome people like Eddie
and their experience.
We will though be able to deepdive with you personally on your
own personal goals on aone-on-one coaching session.
That's one of the prizes we'regiving away.
The other one is a $250 Amazongift card or Visa gift card, but
(37:48):
I'll say Amazon gift card.
And the other one is aWisconsin investor kit.
So we're gonna get some podcastmerch in there.
We're gonna get some uh of myfavorite investing books, maybe
some Door County coffee we'llthrow in there.
Just a little something, alittle whisky, something,
something in there.
So here's all you guys have todo to get entered into this
contest to win this, okay?
You gotta subscribe to theYouTube channel.
So if you're one of my Apple orSpotify listeners, love you
(38:11):
guys.
But go over and subscribe tothe YouTube channel as well.
Follow us on Instagram orFacebook, either one is fine.
Okay.
And then we have a pinned postthat we're gonna be putting on
there.
Well, it might even be upalready.
I'm not sure.
But you're gonna go to thatpinned post and you're gonna
comment done and tag two of yourfriends who love the show or
(38:32):
who would love the show.
Okay.
Very simple.
All right, subscribe onYouTube, go to the Facebook or
Instagram, follow it, commentdone, and tag two people in it
that would like the show.
And that's it.
And you're entered in.
All right.
Um we also are have a giveawaypost, and if you share that,
(38:52):
we're gonna give you anadditional entry into this
contest.
Okay, so go share that on yourstory, tag the Wisconsin
investor, and we'll see thattag, and we'll enter you in for
an additional um entry into thiscontest.
So that's it.
Easy peasy, Eddie.
Let's get you in this contest,buddy.
Let's get you in there.
(39:13):
Okay.
Any final any final comments orthoughts for the audience out
there?
Never know.
No.
Okay.
I think we covered it, man.
If anybody wants to get a holdof you, Eddie, or has any
questions or wants to talk toyou two about getting involved
with you guys on the managementside of things, what's the best
way for them to reach you?
Uh, probably by email or a phonenumber, whichever one.
(39:33):
Uh yeah.
If ever seeds call the mainphone at rural property
management.
And then they'll direct youover.
Awesome.
All right.
There you guys have it.
We'll put that in the shownotes of rural property
management.com.
You guys can go click on it ifyou want to click on it, or just
go search it up.
I'm sure it'll come right up onyour Google searches.
And um, guys, looking forwardto seeing that subscriber list
(39:55):
grow before the next episode.
I appreciate you guys all forlistening, and we will see you
on the next show.
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