May 13, 2025 • 35 mins
Curious about commercial real estate but unsure where to start? In this enlightening conversation, commercial lending expert Kamyar demystifies the process of acquiring commercial properties and reveals why they often represent superior investments to residential real estate.
The financial advantages of commercial property ownership become immediately clear as Kamyar explains the hands-off nature of management - "You're literally just getting rent every month" while tenants handle most maintenance responsibilities. This stark contrast to the constant demands of residential properties makes commercial real estate particularly attractive for investors seeking passive income streams.
Before taking the commercial plunge, prospective investors should perform crucial preparation steps. Reviewing credit reports, analyzing tax returns, and understanding different qualifying ratios for owner-occupied versus investment properties form the foundation of successful commercial investing. The conversation explores various financing options, from 25-year fixed SBA loans to conventional structures amortized over decades.
Tax strategies emerge as a compelling reason to consider commercial investments. Cost segregation allows accelerated depreciation, while opportunity zones offer potential elimination of capital gains taxes after ten years of ownership. "I have clients that buy one or two buildings a year just to take advantage of cost segregation," Kamyar reveals, demonstrating how savvy investors leverage these advantages to rapidly expand their portfolios.
The discussion extends beyond immediate benefits to long-term legacy planning. Establishing trusts that ensure properties remain family assets across generations creates true multigenerational wealth rather than temporary prosperity. First-time investors receive practical guidance: focus locally, determine your investment goals, and leverage free resources like LoopNet to identify properties.
Ready to transform your financial future through commercial real estate? Connect with experts who can guide your journey and subscribe to continue exploring wealth-building strategies that stand the test of time.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Dwan Bent-Twyford (00:02):
Hey everybody , welcome to The Most Dwanderful
Real Estate Podcast Ever.
We just hit 1 million downloads, so thank all of you for that.
It was a very exciting day forme to finally hit a million, so
now we need to work on 2 million.
So listen, share, tell yourfriends.
Find me at dwanderful.
(00:23):
com.
I took my first name, Dwan andwonderful, and made a new word,
Dwanderful and I'm excited tobring you another really amazing
guest.
I want to make sure I don'tbutcher the name cam your yes,
(00:45):
thank you for having me.
Did I do it right?
Kamyar Rezaie (00:47):
Yes, you did.
Dwan Bent-Twyford (00:48):
Ah see, I've been working on it, kamyar.
So he's going to share what hedoes and we're going to have
some fun, so we always just likedive right in.
So, kamyar, how are you today?
Kamyar Rezaie (00:57):
I'm well, how about yourself?
Dwan Bent-Twyford (00:59):
I'm good.
I'm really excited to be here.
Thank you for taking time outof your day.
We over here at the wonderfulteam realize how valuable your
time is, so we appreciate itwhen someone spends their time
with us.
Kamyar Rezaie (01:11):
Thank you.
Dwan Bent-Twyford (01:12):
So I like to just, instead of going through
all your, all your stuff, I justlike you to tell us in just a
couple of sentences, just a fewsentences, what you do, how we
find you online, and then I'mgoing to ask you some fun
questions and find out how youcame to be who you are today.
Kamyar Rezaie (01:33):
All right.
So I'm a commercial real estateadvisor.
I help on the lending side ondifferent you know lending
platforms in terms of you knowwe have SBA loans, we have CMBS
loans, we have conventionalloans, life insurance money, all
the different avenues.
So, depending on the client'sneeds and personal financial
(01:54):
statement, we place the loanwith a bank to make the deal
happen and close escrow.
Dwan Bent-Twyford (01:59):
Nice, okay, and how do people find you
online, or just your website orwhatever you want for people to
reach you?
Kamyar Rezaie (02:06):
Sure, they can reach me at the office at
818-703-9337.
I have YouTube, instagram,facebook.
You know all the differentsocial platforms.
Dwan Bent-Twyford (02:17):
And it's under your name.
Kamyar Rezaie (02:19):
It's under WembleysInc.
com W-E-M-B-L-E-Y-S-I-N-C.
Dwan Bent-Twyford (02:31):
Nice, okay, well, that sounds easy enough,
and so let's talk about thatthen.
So you do commercial lending.
Kamyar Rezaie (02:39):
Correct.
Dwan Bent-Twyford (02:40):
So I love commercial.
I actually, within the last 10years, have acquired 28
commercial properties and havinghad really none, one or two,
you know, in the 20 years beforethat.
So I think I love commercial,but I think a lot of people what
do you think one of the biggestmisconceptions is For someone
who's like I'm going to buy acommercial building and they and
(03:02):
it's their first one Because Ibought my first one not a
hundred percent knowing what Iwas doing I was like, yeah, how
hard could it be?
I'll figure it out.
But I also had 20 years ofexperience behind me.
So if someone comes to youthey've got the money, they got
the credit.
They want a commercial building.
What are some things theyshould maybe know or watch out
(03:22):
for before they dive into thatside of the business?
Kamyar Rezaie (03:27):
Well, obviously, number one anytime you want to
get credit, look at your creditreport.
Make sure there's no, you know,mistakes on there or
derogatories that you don't knowabout.
You know credit score is a bigeffect.
Number two look at your lasttwo years of tax returns as of
the net income versus all of theliabilities you have on your
credit report.
Dwan Bent-Twyford (03:47):
Okay.
Kamyar Rezaie (03:49):
And then it all depends Are you going to buy be
buying a building for your ownbusiness or are you buying it as
an investment?
So there will be differentratios.
Dwan Bent-Twyford (03:56):
So there's different ratios if you're
buying it for to rent it outCorrect Versus putting in
business in it.
Kamyar Rezaie (04:04):
Exactly.
Dwan Bent-Twyford (04:05):
And what would that be Like?
Just what's an example.
What does that mean?
Kamyar Rezaie (04:08):
Means like, let's say, if you're buying it for
your own business, you have tohave enough net income on your
corporate side to be able toafford the new payments.
There are add-backs of whatyou're currently paying for rent
and depreciation.
(04:29):
After adding those back you haveto have enough income to be
able to support the new paymenton the new building.
And if you're buying it to rentbecause I bought all mine to
rent, then that's different.
Then they typically you knowsome banks look at your net
income or your personal return.
Can support all of theliabilities you have on your
personal credit report.
And then they've, you know know, number one focus is actually
the building itself.
Where they look can it supportitself with the amount of down
payment and the rate you'regetting?
Then they you know some banksdo look at global cash flow and
(04:52):
some banks don't okay, so, yeah,so that's good.
Dwan Bent-Twyford (04:55):
Yeah, we, um, we my husband is from clinton,
iowa, and we they have like a.
You could tell the downtownused to be like this really
great little shopping mecca andshops and stores, and you know,
back in the day, and then youknow they started building all
the things like over here, likethe Walmart, the restaurants
(05:18):
that people sort of left thedowntown and went there there.
So now there's a basically acity re-beautification program
going on where they're givingpeople they made it an
opportunity zone and they'regiving people grants for you
know, outside things, facias andyou know stuff like that and
they're trying to like bringback the downtown and they gave
(05:39):
everybody a lot of really greatcredits and things to buy down
there.
So we bought a building and webought another one.
They're like, okay, we'll justget one more.
And then like this woman foundout.
We bought that woman's justlike, I've got three, will you
take my buildings?
And the bank is like, hey,we've got a couple where you
take our buildings.
And then all of a sudden wewere like, okay, now we have 20.
(06:01):
It's like stop.
So I tell my husband stopbuying buildings.
But I don't think they lookedat a whole lot of those things.
So some of these buildings havebeen boarded up for a decade.
So a lot of money out of pocketto buy them.
Some of them were beautiful,just beautiful, already had
tenants, the whole thing.
But some are just like, oh mydude, we're going to be working
(06:23):
on this building for a decade,but the outcome will be great.
No, it will be so.
And you know it's funny becausejust in the last couple of
years the property value is inbecause that downtown it's on
the Mississippi river, so theriver's here, so the downtown is
three blocks this way and threeblocks that way.
So everyone in that little nineblock area pays their taxes
(06:45):
into what's called the downtownpartnership fund and then we use
that money to do events andhost things to get people to
come downtown.
And but since then we've had acouple bars and some restaurants
and, um, just all kinds ofreally antique malls, just all
kinds of really fun littlestores where people can come and
like spend the whole day and,you know, shop and eat.
(07:07):
But it's still not completely,completely done.
So when someone wants to buysomething like that, it's just
like been sitting there forever,until the end of the time.
They should probably just goget a hard money loan or
something right.
Kamyar Rezaie (07:21):
Typically depending on, again, their
experience and background andPFS, it'd right.
Dwan Bent-Twyford (07:30):
Typically depending on, again their
experience and background andPFS be best to get a hard money
loan.
You know, fix up the place, getit.
You know, rent it out and thengo get a permanent loan on it.
Yeah, we just refinanced acouple of our buildings, just in
the last week actually, becausethey were they were too trashed
to get a loan.
But now, you know, we put abunch of money in and they're
gorgeous, and so we actuallyjust yesterday I think,
refinanced one of them justyesterday, but it looks gorgeous
(07:51):
.
You can't even tell it was everthe same building, Right, you
know, so is commercial like areally giant part of the real
estate industry, do you feel?
Kamyar Rezaie (08:01):
It is, Definitely is, and more than before.
You know, always you have thisscare of people trying to go
into the commercial space.
You know, how do I get a loan?
What do I do?
Where do I start?
You know.
But once they get everythinggoing, they buy the first one
and the second one.
Then it's, you know, they'relike, oh, I like this, and they
(08:22):
rather be in the commercialspace rather than the
residential space.
Dwan Bent-Twyford (08:23):
And what would you?
What do you think is like thebenefit of being in Cause, like
I know, for me personally, but,like you know, it's nice to be
able to hear what you think.
What do you think is thedifference, the benefit of being
in the commercial space versus?
Kamyar Rezaie (08:37):
the residential, I think the main thing in
commercials you're less hands-onversus residential.
You know, especially on.
You know, let's say on theseindustrial buildings and stuff
like that, you know they'rereally as an owner of that
building you have noresponsibility.
The tenant takes care ofeverything.
You're literally just gettingrent every month.
Dwan Bent-Twyford (08:56):
Yeah, our tenants have to pay the electric
, the water, the heat.
They have to clean their ownsidewalks when it snows, Right,
they have to clean their ownsidewalks when it snows, Right.
You have to do a lot.
But then if something breaks,like one of our boilers went out
a couple of times, this is abig four-story very old building
with an old boiler in it andthat thing was $60,000 to fix.
I was like what the hell?
But we're in the process oftaking each unit and getting
(09:24):
them their own heat and air, oneby one.
But you know the whole thing todo that is a lot more than the
60 that it was to fix the boiler.
So sometimes these old buildings, you know it's a lot to get
them done up to par up to par,but once they are, I mean, I
feel like they're just goldmines right a lot of people I
mean I mean a lot of you I'vebeen investing for 35 years I
mean a lot of people that arejust like oh, I don't want to do
(09:45):
commercials, it's too scary,but I'm like I don't understand.
Like, what are you afraid of?
Like I don't understand whatthey're afraid of, because it's
like you'd rather have a bunchof and I have tenants too.
So you'd rather have a bunch of, and I have tenants too.
So if you'd rather have a bunchof single family homes and a
bunch of tenants and a buildinglike that's exactly my point.
I don't, I don't get it and Imean I, you know, I mean for me
(10:06):
personally.
When I started off, I rehabbed,then I became a wholesaler and
then I became a landlord, then Istayed a wholesaler and then I
bought like a building.
And I bought a building andthen just wholesale, wholesale
rehab, rehab for 12 years.
It's like I'm going to buy morecommercial and then once you
(10:26):
start commercial, you're like,oh, this is great.
I don't know why I waited solong to do this, but I think for
me too, there was nobody reallyto teach me more about it,
because I learned kind of seatin my pants, you know, in my
whole entire business, and Ididn't know a lot about it, or
like the funding and the thingslike that.
Now, do you help people withany kind of education, teaching?
(10:50):
Do you do that?
Kamyar Rezaie (10:52):
Oh yeah, I educate them, I tell them you
know everything that's going on.
I always advise them to get avery good accountant if they
don't already have one, becauseyou know there are.
You know there is also theaccelerated depreciation of 1031
.
I'm sorry, cost segregation andlearn about 1031.
If they're going to sell to putthe capital gains you know,
defer them.
There's 1031 exchanges for likeDSTs they should learn about in
(11:14):
case they can't find areplacement.
There's a lot of differentrules that are working in their
favor that they just need toknow about.
Dwan Bent-Twyford (11:21):
So do you hold any kind of classes or any
like hey guys, I'm going toteach you about this, or you
just work with each individualperson?
Kamyar Rezaie (11:28):
It's one, it's one-on-one.
Dwan Bent-Twyford (11:30):
Well, that's very nice.
So someone comes to you andthey're like hey, I heard you on
Dwanterful.
Kamyar Rezaie (11:43):
And I wonderful, and I mentioned in mind some
buildings you would sit and talkabout.
I would see where they are,where, what, they've done like.
Dwan Bent-Twyford (11:47):
I'll be honest with you.
About 80% of my clients don'tknow what cost segregation is.
Well, explain that.
What is cost segregation to allthe new folks right.
Kamyar Rezaie (11:52):
So I'm not an expert at it.
I could just give you a verybroad idea.
It's basically accelerateddepreciation over the first
three years, where you can takea majority of the depreciation
in the first three years, whichallows you to pay less taxes.
Dwan Bent-Twyford (12:06):
Yes.
Kamyar Rezaie (12:07):
And so every time you buy a building, an
investment building in acommercial even as a SPA, an
on-rock commercial building youcan do cost segregation.
So I have clients that buy oneor two buildings a year just to
be able to take advantage of thecost segregation, accelerated
depreciation, to pay less taxes,and the taxes they are savings
they use it to buy morebuildings.
Dwan Bent-Twyford (12:28):
Yes, agreed, and we bought ours in an
opportunity zone.
So as long as you own them for10 years, there's no capital
gains.
So and people are like I didn'tknow that.
I was like, yeah, there's nocapital gains.
So and people were like Ididn't know that.
I was like, yeah, there'sopportunity.
But the thing is the opportunityzone.
All people have to do is justGoogle opportunity zones and
there's all kinds of sitesthat'll just come up with all
the different states.
(12:48):
Click your state, click yourarea, see where you want to buy.
And even in the little town inClinton that we buy, my son buys
single family homes.
He's like no, I'm staying in myspace.
My daughter they're like myother daughter said I'm going to
buy commercial.
So they're all kind of indifferent spaces in there.
But people don't realize thateven in like, for example,
(13:11):
clinton, I was like 25,000people in the neighborhoods
They'll have, you know, likethis block is an opportunity
zone, this block is not.
This block is not and thisblock is.
Why is that?
Well, this block must have beenreally run down looking and the
city wants someone to come inand buy it and rehab it and rent
(13:33):
it and fix up the neighborhoods.
But then also properties can bein opportunity zones and, like
our whole downtown, the wholedowntown is that if you go to
the fourth and fifth block,which is still commercial, not
opportunity zones, and then ifyou go this way, two or three
blocks, they're still commercial, not opportunity.
(13:55):
It's just this little area likethat.
So if someone's buying in likean opportunity zone, they want
to borrow money, does that makeany difference?
Kamyar Rezaie (14:03):
It doesn't make a difference in terms of lending
aspect of it.
Dwan Bent-Twyford (14:07):
Okay.
Kamyar Rezaie (14:08):
But in terms of you know, again, they should
speak to their CPAs.
You know, if they keep it, ifthey're willing to keep it at 10
years and make sense, you know,then no capital gains that can
be huge.
Dwan Bent-Twyford (14:18):
So and make sense.
You know, then no capital gainsthat can be huge.
So they can write up all thedepreciation and go into it for
the whole 10 years, then sell itand take all that money and
pocket it and buy some morestuff.
Kamyar Rezaie (14:25):
They wouldn't need to do the 1031 exchange at
that point.
Dwan Bent-Twyford (14:28):
Oh, yeah, yeah, yeah.
So explain to people what thatis.
I find out that 99% of peopleif I tell them about that, they
just have this blank look.
They have no idea what 1031exchange is.
Kamyar Rezaie (14:38):
Right.
So 1031 exchange is basicallywhen you own an investment
property and you sell it and youhave a good amount of capital
gains and profit out of itversus paying capital gains
taxes on it.
You put it with a 1031accommodator and you locate
another property and you buyanother property with those
funds and you're deferring yourcapital gains taxes.
Dwan Bent-Twyford (15:00):
Right.
So I think a little simpler islike you make you know a gob of
money, you say, hey, I want tobuy that, and you buy that with
that same money, no taxes.
Kamyar Rezaie (15:11):
Exactly, and you can do it multiple times.
Dwan Bent-Twyford (15:13):
But don't they only have like and I don't
you have to correct me don'tthey only have like 45 days to
pick another property, or 60?
Kamyar Rezaie (15:20):
days.
Right, there's more, there'stimeframes and there's 45 days.
You can get extensions.
You have up to six months toclose.
Dwan Bent-Twyford (15:27):
Yeah, I knew there was a couple of timeframes
.
It's like I actually haven'tdone that because we're keeping,
we're just going to keep all ofours and then pass them down to
our kids and our grandkids aswe're trying to create
generational wealth.
And and I'm like, and we alsoare like, listen, by the time
the grandkids get it they'relike oh, me and pappy made us
rich and we don't want to keepthese buildings, we're just
(15:48):
going to sell them.
All.
All the money goes to charity.
They get no money unless theykeep them and run them and keep
passing them down so and then.
Kamyar Rezaie (15:57):
so you can also do generational 1031s oh okay, I
did not know that.
Dwan Bent-Twyford (16:02):
That would be great.
Kamyar Rezaie (16:03):
Yeah, yeah.
That's a great trust you'vebuilt there.
Dwan Bent-Twyford (16:06):
Yeah, so the kids are.
So the grandkids, I mean,they're all under 10, so they
don't get it.
But my kids are like, well,it's something that you know.
When you guys and I say, and Isaid, hey, listen, y'all are
going to be basically overseeingthe money in the buildings,
they're really going to the kids.
But if the kids grow up andlike, oh, we can sell this and
we can make you know $5 million,it's like now you can't sell it
.
You got to have kids and passit down.
And if you sell everything,it's all going to go to charity.
(16:29):
You get nothing.
And I learned that from a guythat had $18 million worth of
real estate and he said all mykids, I think, just want to live
off and I feel like mygrandkids are going to sell it.
And then, sure enough, as soonas it went to the grandkids,
they all tried to sell it andall went to charity.
(16:49):
And I mean I knew about itahead of time and then I checked
back later on.
It's like, oh no.
The grandkids were like, oh myGod, we're not going to sell it,
we're not getting any money.
All of a sudden they stepped inand started taking care of
things.
Kamyar Rezaie (17:00):
Right, right.
I mean at that point there'sprobably going to be no loan on
those properties, so it's alljust residual income.
You put a nice propertymanagement team on there and you
said you know you enjoy life.
Dwan Bent-Twyford (17:10):
Yeah, and this guy that told me that and I
it would be like $20,000altogether and he goes my kids
will take care of it, mygrandkids.
I just know they'll sell it.
So that's what we're doing.
And then not too long ago I raninto one of them and then I go
oh yeah, no, the first grandkidsturned like 18.
I was like, hey, we're going tosell.
And they were like you getnothing.
And then I don't think theyunderstood they get never mind,
(17:35):
we're going to take care of itnow.
So I'm like I think that's agood idea.
So I told my husband.
I said we need to do thatbecause I don't want to work for
us, and then all my kids workto keep it going and all the
grandkids are like, ah, we'rejust going to sell it and we're
going to like fly around theworld.
Go rolling in the flowers.
Kamyar Rezaie (17:55):
And they will still be able.
Your grandkids will still beable to fly around the world,
you know.
But it's going to be with theresidual income.
Dwan Bent-Twyford (18:01):
Yes, and I just have to be responsible and
take care of all the stuff Iwork so hard for.
Exactly, I think that's a Ilike that.
And so I met that guy.
I was like you know what?
That's a really good way to dothings.
We have a friend up in themountains.
His name is Duke and his family, like we live in a little town.
We have a house in a littletown called Bailey.
(18:21):
His family owned thousands ofacres, like thousands of acres,
and so he's my age, but I'veknown him for like 20 years
already.
So when his parents passed away,they basically left it to the
grandkids and then, like, Dukeand his brothers and sisters are
just like taking care ofeverything and they get X amount
of money and this and that.
(18:43):
And then he said, yeah, but allthe grandkids are going to
probably want to sell everything, and when you know when it's
their turn, I said, well, isthere not anything after that?
And they were like no, theyjust his parents passed it to
the grandkids, with the adultchildren that are my age, like
taking care of it, earning money, managing whatever, but they
(19:03):
can't sell or do anything untilit gets to the grandkids.
He said no, they're all goingto sell everything.
And then that also made methink like, well, I'm not going
to let my kids do that.
And I mean, they ownedthousands and thousands of acres
that they plotted off and soldthem and built subdivisions.
They own all this crazy amountof land and it's like wow,
(19:24):
no-transcript.
Kamyar Rezaie (19:25):
I like your strategy better than that one.
Dwan Bent-Twyford (19:27):
I'm like and I said, and he's like, I know we
can't change anything and I waslike, so you should do this.
But so, yeah, I don't.
Sometimes I don't think people,I don't know they, maybe they
don't think far enough ahead.
But now, when you guys do acommercial loan, how long are
those loans?
Kamyar Rezaie (19:42):
It depends.
It can be as short as, say,about 40, 45 days, as long as
you know, 90 days or 120 days,depending how you know just
intense it is and the type ofproperty.
Dwan Bent-Twyford (19:54):
I mean, how long are the loans?
For?
10 years, 20 years?
Kamyar Rezaie (19:57):
So on the SBA side, when they're owner
occupied, you can do a 25 yearfixed, amortized over 25 years.
So it's fixed throughout thewhole period.
There's also, you know, 5, 7,10 available on those and then
on the conventional owneroccupied loans are typically,
you know, like 10 over 20 or 20years fixed, amortized over 20
years.
And on the investment sidethey're either three year fixed,
(20:19):
five year fixed, seven yearfixed, 10 year fixed, amortized
over 20, or amortized over 30years.
Dwan Bent-Twyford (20:25):
Well, that's nice.
So then you guys get out of.
You get kind of in and out ofthem pretty quickly.
Kamyar Rezaie (20:29):
Well that's nice.
So then you guys get out of it.
You get kind of in and out ofthem pretty quickly.
You know when the rates werereally low back after during the
COVID days.
Oh yeah, majority of my clientson fixed on the whole term if
it was available and they areloving life right now.
Dwan Bent-Twyford (20:41):
Oh yeah, oh yeah.
Well, I always tell people youalways want to get along, you
always want fix, you wanteverything to be fixed all the
time, because you just neverknow what's going to happen.
I remember back in the days Idon't know maybe in the 80s or
90s maybe, when they had allthose adjustable rates and
people's payments were going upto these crazy amounts and it
was like, hmm, but I have neverhad one of those.
(21:04):
I watched other people strugglewith it.
I thought I'm never going to dothat.
Kamyar Rezaie (21:08):
Well, the rates in the late 70s, early 80s or in
the 80s were up to 17%, 18%.
Dwan Bent-Twyford (21:14):
I can remember Now I was like in my
20s and the 80s, so probablybefore you were ever born.
But I do remember my parentswanting to buy a house and the
interest rates were like 18% orsomething and I didn't know
anybody else.
I'm like, oh, that doesn'tsound bad.
But then as I got oh, I gotinto real estate, it's like, oh,
my god, who would buy a housewith a even a 15 percent
(21:37):
interest rate?
Why would you do that?
You just wait, or something.
But I remember hearing myparents talking about it and
then, and then later on you knowthey refinanced the house when
rates went way, way, way, waydown.
But I can still remember thembeing like and that, looking
back, it's like God, 18%, likewho did that?
But I think everybody did right.
Like, if you wanted to buy ahouse, that was the deal.
Kamyar Rezaie (21:59):
That was the norm .
Dwan Bent-Twyford (22:00):
Do you imagine right now buying a house
with 18% interest on it?
Kamyar Rezaie (22:04):
No.
Dwan Bent-Twyford (22:05):
I mean golly.
Kamyar Rezaie (22:07):
The last two, three generations won't
understand it.
Dwan Bent-Twyford (22:10):
No, no, and I was not into real estate or
anything.
I just can remember themtalking about the interest rates
and like being high school-ishand learning about.
We had those classes calledfamily living and you learn how
like things kids don't knowtoday how to balance, checkbook
and you know this sort of stuff.
(22:32):
In the one class it was a onesemester they took the guys and
the girls and put them intogether and they coupled you up
, so you and the guy you were,you had to plan a wedding, um,
we all went to a church and didlittle vows and we had to have
budget and we had to figure outmortgage payments and how to
budget and how to do a checkbookand how to do all this stuff in
(22:54):
high school and I was like, oh,it's too bad they don't teach
kids that today, because kidsget out of school they don't
even know how to deal with theirmoney or their credit cards or
any of their stuff like that.
But part of that class was thatand looking at, you know, can
you afford to buy a house andhere's what the payments are,
(23:15):
and it was just.
It was really a really funeducational class.
But I remember even in theclass the interest rates and
learning.
Like you know, the payment isthis much and if the interest is
that you can only afford thismuch for a house, because this
is what the payment is, and nowyou know, if you get a 7%
interest rate, you can get thatmuch house and still have the
same payment.
Kamyar Rezaie (23:34):
Right.
Dwan Bent-Twyford (23:34):
I learned even in high school that you can
get more house if you have lessinterest.
And I looked at my parents.
I was like you guys bought ahouse like that.
Yeah, it sounds like it's crazy.
It sounds like crazy stuff tome, so all right.
So what is one actionable tip?
Kamyar Rezaie (23:51):
If someone's like , hey, they're just hearing you
for the first time, they'reinterested, they want to contact
you, give them a tip, some kindof actionable tip about finding
a property, looking at aproperty, how to assess a
property, something that someonecan listen to and go oh, I
(24:11):
could do that.
Well, nowadays because ofCHAP-GBT, it's much, much easier
, right?
So the first thing is numberone look at your credit report
again.
You know you go to Experiancom,look at your credit report for
free, make sure everything isreported accurately, there's no
derogatories and everything.
(24:33):
Number two you know, go focusdown on an area you want to
invest in, especially if it'syour first or second commercial
property, either as investmentor owner occupied.
Try to be as close to it aspossible.
You don't want it to be far.
Okay, you need to be hands on.
And then after that, you know,look at, are you looking to buy
a property that isowner-occupied or investment?
If it is investment, do youwant a small shopping center?
(24:57):
Do you want a small industrial?
Do you want a multifamily?
You know, go read aboutresearch about it and see which
one.
And then, once you zoom in onthat, you know you can go on
LoopNet for free and searchproperties available for sale
and, you know, locate some.
And you can always contact me.
I can look at the property andsend you a free underwriting
(25:18):
report on that property.
Dwan Bent-Twyford (25:20):
I was going to ask you.
So if someone came to you andthey're like, hey, listen, cam,
you know I found a property andit's my second one I think it's
like a good deal you might helpthem look at it and say, hey,
listen, based on the numbers,this is not a good deal.
Kamyar Rezaie (25:35):
Sure.
Dwan Bent-Twyford (25:35):
Cause, not that you went alone on it, but
would you help a person?
Like based on all this theseare the reasons this is a
financial, not a sound deal Likedo you step into that role and
help people?
Kamyar Rezaie (25:48):
step into that.
After I give them a costarunderwriting report, I have them
review it First.
I want to see what theiranalysis is after reviewing the
report and then I can give themmy thoughts.
Yeah.
Dwan Bent-Twyford (26:00):
I always feel like if you're in any area of
investing and you haveexperience, I feel like it's
that anybody should go to,especially anybody new, like hey
, listen, I know like I getstudents like, hey, I want to
buy this house.
I know you want to buy thishouse, but here is the reality
of you buying this house.
So if you want to buy it, buyit, but I'm recommending not,
(26:23):
right, I feel like we shouldhelp you know?
No, definitely I helped them,but I want their analysis.
Kamyar Rezaie (26:30):
Right, help, you know?
No, definitely I helped them,but I want their analysis.
Right, I want their analysis.
I want to see what their gutfeeling is, how they're
approaching it with all theinformation that's being given
to them, and then I can say youknow, are you parking all your
money or are you trying to, youknow, grow your money?
Dwan Bent-Twyford (26:42):
yeah, that's even good there.
Are you parking it or growingit?
Yeah, see, I.
I really love commercial.
And the funny thing is peopleare like, oh, you should write a
program.
I'm like, listen, I boughtthese properties on my own
personal use, to keep till theend of time.
I honestly don't know if I evenknow enough to write a program.
I'm teaching people aboutbuying commercial because of all
(27:04):
that stuff you talk about.
Kamyar Rezaie (27:05):
Sure.
You know, and it's like youknow, for clients or if they
ever have questions or anything,I'm always here to help them,
you know, guide them, you know,give us much information that
they need on it.
Dwan Bent-Twyford (27:16):
Okay, all right, let's talk about
something else, cause everybodyalways wants to know about you
and what you're doing.
What's your favorite band ofall time?
Kamyar Rezaie (27:23):
Favorite band of all time, uh, green day.
Dwan Bent-Twyford (27:27):
Oh man, I love green day.
You, you know it's funny.
When my kids were in highschool they wanted to go see
green day and my husband, Ibought them tickets and like you
know, and we were like we'renot gonna go see green day as a
bunch of punk whatever, and thenlater on we actually listened
to a couple of the albums.
(27:47):
It's's like dang, green Day isso freaking great.
I cannot believe we justdropped the kids off and went to
go eat because we didn't wantto go see Green Day.
It's like what were we thinking?
But you know, we were a littleolder.
We were like, ah, you know theway they look and they're great,
right.
Kamyar Rezaie (28:04):
They're great.
Dwan Bent-Twyford (28:06):
Their voices.
They're there.
That their voices.
That song Broken Boulevard,broken Dreams.
I swear to you I think that'sone of the greatest songs ever.
It's just I don't know.
That song moves my soul.
What's your favorite food?
Kamyar Rezaie (28:20):
Sushi.
Dwan Bent-Twyford (28:21):
Me too.
I had sushi for breakfast today.
I haven't done that I boughtsome yesterday, I ate some.
Done that, I bought someyesterday, I ate some.
Last night I was like, oh, I'mfull.
I was like you know what.
So I got up and I'm going toeat sushi for breakfast.
So, oh, so good, what's?
Kamyar Rezaie (28:39):
your favorite time of day.
What is your?
Dwan Bent-Twyford (28:40):
where's your happy place, where you're just
like, oh man, this is great.
Kamyar Rezaie (28:44):
You typically in the morning, cause I wake up
first thing in the morning andgo work out and get my
endorphins going, so I love themornings.
Dwan Bent-Twyford (28:53):
Yeah, yeah, yeah, yeah, most people do.
All right, so how can thepeople of Dwanterful, the
Dwanterful world, how can wehelp you reach your next big
goal?
Kamyar Rezaie (29:07):
Basically I'm looking to.
My focus is I appreciateeverybody to be able to help me.
I like to help them buy thefirst building because I like
people to, in 10 years, 15 yearsfrom now, you know, call me and
say, wow, thank you for youknow helping me buy this
building.
You know business has been good.
We're paying off the building.
We're leaving a good amount ofequity for our kids, our
grandkids.
I get a lot of those calls nice.
Dwan Bent-Twyford (29:28):
I know, that is nice, isn't it?
Yeah, I like it when my sistersent me a copy of one of their
checks, it's like oh, thank you,that's so great yeah I get a
lot of clients be like, lookwhat if I want to pay this off
sooner?
Kamyar Rezaie (29:42):
you know, and we go when they send the loan docs,
majority of them allow for 20extra 20 of payments a year.
So I've, you know, clients thatare sometimes paid off in the
12, 15, 15 year range and youknow, once they get that you
know it's paid off.
They call me like you know what?
I paid off this building.
I'm very thankful.
Dwan Bent-Twyford (29:58):
And they're so excited.
Kamyar Rezaie (29:59):
Yeah, it's a great feeling.
Dwan Bent-Twyford (30:01):
Yeah, it is a great feeling, all right.
So all of you out there in thewonderful world, this is the
most wonderful real estatepodcast ever.
Anybody looking for any kind ofcommercial loans or whatever,
you need to go to Cameo, becauseif you come to me and ask me a
bunch like about money andfinance, I'm going to be like
listen, I just got to send itsomeplace else.
I don't know and I'm alwayshappy to admit when I don't know
(30:24):
, because nobody knowseverything and it's just not my
arena specifically.
But I?
Kamyar Rezaie (30:28):
I mean, I'm happy to help you look at a building.
Dwan Bent-Twyford (30:30):
I'm happy to give you my opinion.
What comes down to all themoney and the crunching?
Yeah, I'm gonna send you tothis young man because it's out
of my box and you know, thetruth is I am enjoying the part
of real estate that I'm lockedinto as far as my mentoring and
my training, and I tell people Isaid I don't really want to go,
(30:51):
take the time to learn all ofthat, when there's people like
you that already know it all.
So if that's what someone'sexpertise is, just go there.
You don't need to reinvent thewheel.
My expertise is wholesaling,rehabbing, short sales it's like
you don't need to reinvent thewheel.
I'll teach you everythingexactly.
Having short sales it's likeyou don't need to reinvent the
wheel.
I'll teach you everythingexactly.
(31:12):
No mistakes.
Kamyar Rezaie (31:12):
They want to buy property like that, they go to
you Right.
Niche expertise is the best Ibelieve in.
Dwan Bent-Twyford (31:16):
It really is, and I think people still just
try to look at all the people,all the shiny objects, all the
stuff.
That's like, listen, just go tothe person, how long have?
Kamyar Rezaie (31:27):
you been doing this 21 years Okay 21 years.
Dwan Bent-Twyford (31:29):
So go to someone like 21 years, I mean
that's good experience, I got 35.
Go to someone who's been doingit for a long time.
Let them teach you, let themhelp you cut your learning curve
.
And I tell people like, stoptrying to reinvent the wheel,
stop listening to this webinarand this thing and that shiny
object.
Then try to put it togetheryourself.
Just go to someone that canjust help you, right, absolutely
(31:51):
.
I'm glad we agree on that.
Okay, so, everyone, I'm goingto ask you a favor.
If you had fun today or youlearned anything you liked both
of us I want you to leave me afive star excuse me, five star
review and write something.
Nice.
Five stars.
Write something and subscribe,because I can't reach too many
(32:11):
downloads without you.
And one last thing for you Ialways like our guests to give
us a word of wisdom, but justone single word.
Kamyar Rezaie (32:26):
Trust.
Dwan Bent-Twyford (32:27):
Okay now, trust.
Okay Now.
So, for my wonderful world,what I always ask people to do
is write it on a little stickynote, put it on your mirror and
every time you're brushing yourteeth, whatever you're doing,
you just say the word trust,trust, trust, trust, trust.
So we have a word of the week,so that is the word of the week
this week.
Now tell me what does that wordmean to you?
Kamyar Rezaie (32:53):
People trust me to be able to help them get
financing because I deal withtheir social securities, I deal
with their whole life, so it'snot easy to obtain that trust.
Dwan Bent-Twyford (33:03):
Yeah, that's true, because that's trust that
it's hard to gain and it takes ananosecond to lose it.
Correct, okay, I like, correct,okay, I like that.
Okay, so trust folks, that's it.
So the word, then, is going tobe trusting people, learning to
work with the right people,helping you in your life, your
finances, your things, andtrusting that they're going to
do a good job and steer you downthe right path.
Right, correct, okay, I love it.
(33:26):
All right, guys.
So we will be back next week,same bat time, same bat channel,
and remember that the truth isin the red letters.
All right, everybody, I'll seeyou next week.
Kamyar Rezaie (33:37):
All right, thank you.
Dwan Bent-Twyford (33:40):
Oh, and thank you so much for being on.
Kamyar Rezaie (33:42):
Thank you for having me.
Dwan Bent-Twyford (33:42):
See you next week, okay.
Hey everybody , welcome to The Most Dwanderful
Real Estate Podcast Ever.
We just hit 1 million downloads, so thank all of you for that.
It was a very exciting day forme to finally hit a million, so
now we need to work on 2 million.
So listen, share, tell yourfriends.
Find me at dwanderful.
(00:23):
com.
I took my first name, Dwan andwonderful, and made a new word,
Dwanderful and I'm excited tobring you another really amazing
guest.
I want to make sure I don'tbutcher the name cam your yes,
(00:45):
thank you for having me.
Did I do it right?
Kamyar Rezaie (00:47):
Yes, you did.
Dwan Bent-Twyford (00:48):
Ah see, I've been working on it, kamyar.
So he's going to share what hedoes and we're going to have
some fun, so we always just likedive right in.
So, kamyar, how are you today?
Kamyar Rezaie (00:57):
I'm well, how about yourself?
Dwan Bent-Twyford (00:59):
I'm good.
I'm really excited to be here.
Thank you for taking time outof your day.
We over here at the wonderfulteam realize how valuable your
time is, so we appreciate itwhen someone spends their time
with us.
Kamyar Rezaie (01:11):
Thank you.
Dwan Bent-Twyford (01:12):
So I like to just, instead of going through
all your, all your stuff, I justlike you to tell us in just a
couple of sentences, just a fewsentences, what you do, how we
find you online, and then I'mgoing to ask you some fun
questions and find out how youcame to be who you are today.
Kamyar Rezaie (01:33):
All right.
So I'm a commercial real estateadvisor.
I help on the lending side ondifferent you know lending
platforms in terms of you knowwe have SBA loans, we have CMBS
loans, we have conventionalloans, life insurance money, all
the different avenues.
So, depending on the client'sneeds and personal financial
(01:54):
statement, we place the loanwith a bank to make the deal
happen and close escrow.
Dwan Bent-Twyford (01:59):
Nice, okay, and how do people find you
online, or just your website orwhatever you want for people to
reach you?
Kamyar Rezaie (02:06):
Sure, they can reach me at the office at
818-703-9337.
I have YouTube, instagram,facebook.
You know all the differentsocial platforms.
Dwan Bent-Twyford (02:17):
And it's under your name.
Kamyar Rezaie (02:19):
It's under WembleysInc.
com W-E-M-B-L-E-Y-S-I-N-C.
Dwan Bent-Twyford (02:31):
Nice, okay, well, that sounds easy enough,
and so let's talk about thatthen.
So you do commercial lending.
Kamyar Rezaie (02:39):
Correct.
Dwan Bent-Twyford (02:40):
So I love commercial.
I actually, within the last 10years, have acquired 28
commercial properties and havinghad really none, one or two,
you know, in the 20 years beforethat.
So I think I love commercial,but I think a lot of people what
do you think one of the biggestmisconceptions is For someone
who's like I'm going to buy acommercial building and they and
(03:02):
it's their first one Because Ibought my first one not a
hundred percent knowing what Iwas doing I was like, yeah, how
hard could it be?
I'll figure it out.
But I also had 20 years ofexperience behind me.
So if someone comes to youthey've got the money, they got
the credit.
They want a commercial building.
What are some things theyshould maybe know or watch out
(03:22):
for before they dive into thatside of the business?
Kamyar Rezaie (03:27):
Well, obviously, number one anytime you want to
get credit, look at your creditreport.
Make sure there's no, you know,mistakes on there or
derogatories that you don't knowabout.
You know credit score is a bigeffect.
Number two look at your lasttwo years of tax returns as of
the net income versus all of theliabilities you have on your
credit report.
Dwan Bent-Twyford (03:47):
Okay.
Kamyar Rezaie (03:49):
And then it all depends Are you going to buy be
buying a building for your ownbusiness or are you buying it as
an investment?
So there will be differentratios.
Dwan Bent-Twyford (03:56):
So there's different ratios if you're
buying it for to rent it outCorrect Versus putting in
business in it.
Kamyar Rezaie (04:04):
Exactly.
Dwan Bent-Twyford (04:05):
And what would that be Like?
Just what's an example.
What does that mean?
Kamyar Rezaie (04:08):
Means like, let's say, if you're buying it for
your own business, you have tohave enough net income on your
corporate side to be able toafford the new payments.
There are add-backs of whatyou're currently paying for rent
and depreciation.
(04:29):
After adding those back you haveto have enough income to be
able to support the new paymenton the new building.
And if you're buying it to rentbecause I bought all mine to
rent, then that's different.
Then they typically you knowsome banks look at your net
income or your personal return.
Can support all of theliabilities you have on your
personal credit report.
And then they've, you know know, number one focus is actually
the building itself.
Where they look can it supportitself with the amount of down
payment and the rate you'regetting?
Then they you know some banksdo look at global cash flow and
(04:52):
some banks don't okay, so, yeah,so that's good.
Dwan Bent-Twyford (04:55):
Yeah, we, um, we my husband is from clinton,
iowa, and we they have like a.
You could tell the downtownused to be like this really
great little shopping mecca andshops and stores, and you know,
back in the day, and then youknow they started building all
the things like over here, likethe Walmart, the restaurants
(05:18):
that people sort of left thedowntown and went there there.
So now there's a basically acity re-beautification program
going on where they're givingpeople they made it an
opportunity zone and they'regiving people grants for you
know, outside things, facias andyou know stuff like that and
they're trying to like bringback the downtown and they gave
(05:39):
everybody a lot of really greatcredits and things to buy down
there.
So we bought a building and webought another one.
They're like, okay, we'll justget one more.
And then like this woman foundout.
We bought that woman's justlike, I've got three, will you
take my buildings?
And the bank is like, hey,we've got a couple where you
take our buildings.
And then all of a sudden wewere like, okay, now we have 20.
(06:01):
It's like stop.
So I tell my husband stopbuying buildings.
But I don't think they lookedat a whole lot of those things.
So some of these buildings havebeen boarded up for a decade.
So a lot of money out of pocketto buy them.
Some of them were beautiful,just beautiful, already had
tenants, the whole thing.
But some are just like, oh mydude, we're going to be working
(06:23):
on this building for a decade,but the outcome will be great.
No, it will be so.
And you know it's funny becausejust in the last couple of
years the property value is inbecause that downtown it's on
the Mississippi river, so theriver's here, so the downtown is
three blocks this way and threeblocks that way.
So everyone in that little nineblock area pays their taxes
(06:45):
into what's called the downtownpartnership fund and then we use
that money to do events andhost things to get people to
come downtown.
And but since then we've had acouple bars and some restaurants
and, um, just all kinds ofreally antique malls, just all
kinds of really fun littlestores where people can come and
like spend the whole day and,you know, shop and eat.
(07:07):
But it's still not completely,completely done.
So when someone wants to buysomething like that, it's just
like been sitting there forever,until the end of the time.
They should probably just goget a hard money loan or
something right.
Kamyar Rezaie (07:21):
Typically depending on, again, their
experience and background andPFS, it'd right.
Dwan Bent-Twyford (07:30):
Typically depending on, again their
experience and background andPFS be best to get a hard money
loan.
You know, fix up the place, getit.
You know, rent it out and thengo get a permanent loan on it.
Yeah, we just refinanced acouple of our buildings, just in
the last week actually, becausethey were they were too trashed
to get a loan.
But now, you know, we put abunch of money in and they're
gorgeous, and so we actuallyjust yesterday I think,
refinanced one of them justyesterday, but it looks gorgeous
(07:51):
.
You can't even tell it was everthe same building, Right, you
know, so is commercial like areally giant part of the real
estate industry, do you feel?
Kamyar Rezaie (08:01):
It is, Definitely is, and more than before.
You know, always you have thisscare of people trying to go
into the commercial space.
You know, how do I get a loan?
What do I do?
Where do I start?
You know.
But once they get everythinggoing, they buy the first one
and the second one.
Then it's, you know, they'relike, oh, I like this, and they
(08:22):
rather be in the commercialspace rather than the
residential space.
Dwan Bent-Twyford (08:23):
And what would you?
What do you think is like thebenefit of being in Cause, like
I know, for me personally, but,like you know, it's nice to be
able to hear what you think.
What do you think is thedifference, the benefit of being
in the commercial space versus?
Kamyar Rezaie (08:37):
the residential, I think the main thing in
commercials you're less hands-onversus residential.
You know, especially on.
You know, let's say on theseindustrial buildings and stuff
like that, you know they'rereally as an owner of that
building you have noresponsibility.
The tenant takes care ofeverything.
You're literally just gettingrent every month.
Dwan Bent-Twyford (08:56):
Yeah, our tenants have to pay the electric
, the water, the heat.
They have to clean their ownsidewalks when it snows, Right,
they have to clean their ownsidewalks when it snows, Right.
You have to do a lot.
But then if something breaks,like one of our boilers went out
a couple of times, this is abig four-story very old building
with an old boiler in it andthat thing was $60,000 to fix.
I was like what the hell?
But we're in the process oftaking each unit and getting
(09:24):
them their own heat and air, oneby one.
But you know the whole thing todo that is a lot more than the
60 that it was to fix the boiler.
So sometimes these old buildings, you know it's a lot to get
them done up to par up to par,but once they are, I mean, I
feel like they're just goldmines right a lot of people I
mean I mean a lot of you I'vebeen investing for 35 years I
mean a lot of people that arejust like oh, I don't want to do
(09:45):
commercials, it's too scary,but I'm like I don't understand.
Like, what are you afraid of?
Like I don't understand whatthey're afraid of, because it's
like you'd rather have a bunchof and I have tenants too.
So you'd rather have a bunch of, and I have tenants too.
So if you'd rather have a bunchof single family homes and a
bunch of tenants and a buildinglike that's exactly my point.
I don't, I don't get it and Imean I, you know, I mean for me
(10:06):
personally.
When I started off, I rehabbed,then I became a wholesaler and
then I became a landlord, then Istayed a wholesaler and then I
bought like a building.
And I bought a building andthen just wholesale, wholesale
rehab, rehab for 12 years.
It's like I'm going to buy morecommercial and then once you
(10:26):
start commercial, you're like,oh, this is great.
I don't know why I waited solong to do this, but I think for
me too, there was nobody reallyto teach me more about it,
because I learned kind of seatin my pants, you know, in my
whole entire business, and Ididn't know a lot about it, or
like the funding and the thingslike that.
Now, do you help people withany kind of education, teaching?
(10:50):
Do you do that?
Kamyar Rezaie (10:52):
Oh yeah, I educate them, I tell them you
know everything that's going on.
I always advise them to get avery good accountant if they
don't already have one, becauseyou know there are.
You know there is also theaccelerated depreciation of 1031
.
I'm sorry, cost segregation andlearn about 1031.
If they're going to sell to putthe capital gains you know,
defer them.
There's 1031 exchanges for likeDSTs they should learn about in
(11:14):
case they can't find areplacement.
There's a lot of differentrules that are working in their
favor that they just need toknow about.
Dwan Bent-Twyford (11:21):
So do you hold any kind of classes or any
like hey guys, I'm going toteach you about this, or you
just work with each individualperson?
Kamyar Rezaie (11:28):
It's one, it's one-on-one.
Dwan Bent-Twyford (11:30):
Well, that's very nice.
So someone comes to you andthey're like hey, I heard you on
Dwanterful.
Kamyar Rezaie (11:43):
And I wonderful, and I mentioned in mind some
buildings you would sit and talkabout.
I would see where they are,where, what, they've done like.
Dwan Bent-Twyford (11:47):
I'll be honest with you.
About 80% of my clients don'tknow what cost segregation is.
Well, explain that.
What is cost segregation to allthe new folks right.
Kamyar Rezaie (11:52):
So I'm not an expert at it.
I could just give you a verybroad idea.
It's basically accelerateddepreciation over the first
three years, where you can takea majority of the depreciation
in the first three years, whichallows you to pay less taxes.
Dwan Bent-Twyford (12:06):
Yes.
Kamyar Rezaie (12:07):
And so every time you buy a building, an
investment building in acommercial even as a SPA, an
on-rock commercial building youcan do cost segregation.
So I have clients that buy oneor two buildings a year just to
be able to take advantage of thecost segregation, accelerated
depreciation, to pay less taxes,and the taxes they are savings
they use it to buy morebuildings.
Dwan Bent-Twyford (12:28):
Yes, agreed, and we bought ours in an
opportunity zone.
So as long as you own them for10 years, there's no capital
gains.
So and people are like I didn'tknow that.
I was like, yeah, there's nocapital gains.
So and people were like Ididn't know that.
I was like, yeah, there'sopportunity.
But the thing is the opportunityzone.
All people have to do is justGoogle opportunity zones and
there's all kinds of sitesthat'll just come up with all
the different states.
(12:48):
Click your state, click yourarea, see where you want to buy.
And even in the little town inClinton that we buy, my son buys
single family homes.
He's like no, I'm staying in myspace.
My daughter they're like myother daughter said I'm going to
buy commercial.
So they're all kind of indifferent spaces in there.
But people don't realize thateven in like, for example,
(13:11):
clinton, I was like 25,000people in the neighborhoods
They'll have, you know, likethis block is an opportunity
zone, this block is not.
This block is not and thisblock is.
Why is that?
Well, this block must have beenreally run down looking and the
city wants someone to come inand buy it and rehab it and rent
(13:33):
it and fix up the neighborhoods.
But then also properties can bein opportunity zones and, like
our whole downtown, the wholedowntown is that if you go to
the fourth and fifth block,which is still commercial, not
opportunity zones, and then ifyou go this way, two or three
blocks, they're still commercial, not opportunity.
(13:55):
It's just this little area likethat.
So if someone's buying in likean opportunity zone, they want
to borrow money, does that makeany difference?
Kamyar Rezaie (14:03):
It doesn't make a difference in terms of lending
aspect of it.
Dwan Bent-Twyford (14:07):
Okay.
Kamyar Rezaie (14:08):
But in terms of you know, again, they should
speak to their CPAs.
You know, if they keep it, ifthey're willing to keep it at 10
years and make sense, you know,then no capital gains that can
be huge.
Dwan Bent-Twyford (14:18):
So and make sense.
You know, then no capital gainsthat can be huge.
So they can write up all thedepreciation and go into it for
the whole 10 years, then sell itand take all that money and
pocket it and buy some morestuff.
Kamyar Rezaie (14:25):
They wouldn't need to do the 1031 exchange at
that point.
Dwan Bent-Twyford (14:28):
Oh, yeah, yeah, yeah.
So explain to people what thatis.
I find out that 99% of peopleif I tell them about that, they
just have this blank look.
They have no idea what 1031exchange is.
Kamyar Rezaie (14:38):
Right.
So 1031 exchange is basicallywhen you own an investment
property and you sell it and youhave a good amount of capital
gains and profit out of itversus paying capital gains
taxes on it.
You put it with a 1031accommodator and you locate
another property and you buyanother property with those
funds and you're deferring yourcapital gains taxes.
Dwan Bent-Twyford (15:00):
Right.
So I think a little simpler islike you make you know a gob of
money, you say, hey, I want tobuy that, and you buy that with
that same money, no taxes.
Kamyar Rezaie (15:11):
Exactly, and you can do it multiple times.
Dwan Bent-Twyford (15:13):
But don't they only have like and I don't
you have to correct me don'tthey only have like 45 days to
pick another property, or 60?
Kamyar Rezaie (15:20):
days.
Right, there's more, there'stimeframes and there's 45 days.
You can get extensions.
You have up to six months toclose.
Dwan Bent-Twyford (15:27):
Yeah, I knew there was a couple of timeframes
.
It's like I actually haven'tdone that because we're keeping,
we're just going to keep all ofours and then pass them down to
our kids and our grandkids aswe're trying to create
generational wealth.
And and I'm like, and we alsoare like, listen, by the time
the grandkids get it they'relike oh, me and pappy made us
rich and we don't want to keepthese buildings, we're just
(15:48):
going to sell them.
All.
All the money goes to charity.
They get no money unless theykeep them and run them and keep
passing them down so and then.
Kamyar Rezaie (15:57):
so you can also do generational 1031s oh okay, I
did not know that.
Dwan Bent-Twyford (16:02):
That would be great.
Kamyar Rezaie (16:03):
Yeah, yeah.
That's a great trust you'vebuilt there.
Dwan Bent-Twyford (16:06):
Yeah, so the kids are.
So the grandkids, I mean,they're all under 10, so they
don't get it.
But my kids are like, well,it's something that you know.
When you guys and I say, and Isaid, hey, listen, y'all are
going to be basically overseeingthe money in the buildings,
they're really going to the kids.
But if the kids grow up andlike, oh, we can sell this and
we can make you know $5 million,it's like now you can't sell it
.
You got to have kids and passit down.
And if you sell everything,it's all going to go to charity.
(16:29):
You get nothing.
And I learned that from a guythat had $18 million worth of
real estate and he said all mykids, I think, just want to live
off and I feel like mygrandkids are going to sell it.
And then, sure enough, as soonas it went to the grandkids,
they all tried to sell it andall went to charity.
(16:49):
And I mean I knew about itahead of time and then I checked
back later on.
It's like, oh no.
The grandkids were like, oh myGod, we're not going to sell it,
we're not getting any money.
All of a sudden they stepped inand started taking care of
things.
Kamyar Rezaie (17:00):
Right, right.
I mean at that point there'sprobably going to be no loan on
those properties, so it's alljust residual income.
You put a nice propertymanagement team on there and you
said you know you enjoy life.
Dwan Bent-Twyford (17:10):
Yeah, and this guy that told me that and I
it would be like $20,000altogether and he goes my kids
will take care of it, mygrandkids.
I just know they'll sell it.
So that's what we're doing.
And then not too long ago I raninto one of them and then I go
oh yeah, no, the first grandkidsturned like 18.
I was like, hey, we're going tosell.
And they were like you getnothing.
And then I don't think theyunderstood they get never mind,
(17:35):
we're going to take care of itnow.
So I'm like I think that's agood idea.
So I told my husband.
I said we need to do thatbecause I don't want to work for
us, and then all my kids workto keep it going and all the
grandkids are like, ah, we'rejust going to sell it and we're
going to like fly around theworld.
Go rolling in the flowers.
Kamyar Rezaie (17:55):
And they will still be able.
Your grandkids will still beable to fly around the world,
you know.
But it's going to be with theresidual income.
Dwan Bent-Twyford (18:01):
Yes, and I just have to be responsible and
take care of all the stuff Iwork so hard for.
Exactly, I think that's a Ilike that.
And so I met that guy.
I was like you know what?
That's a really good way to dothings.
We have a friend up in themountains.
His name is Duke and his family, like we live in a little town.
We have a house in a littletown called Bailey.
(18:21):
His family owned thousands ofacres, like thousands of acres,
and so he's my age, but I'veknown him for like 20 years
already.
So when his parents passed away,they basically left it to the
grandkids and then, like, Dukeand his brothers and sisters are
just like taking care ofeverything and they get X amount
of money and this and that.
(18:43):
And then he said, yeah, but allthe grandkids are going to
probably want to sell everything, and when you know when it's
their turn, I said, well, isthere not anything after that?
And they were like no, theyjust his parents passed it to
the grandkids, with the adultchildren that are my age, like
taking care of it, earning money, managing whatever, but they
(19:03):
can't sell or do anything untilit gets to the grandkids.
He said no, they're all goingto sell everything.
And then that also made methink like, well, I'm not going
to let my kids do that.
And I mean, they ownedthousands and thousands of acres
that they plotted off and soldthem and built subdivisions.
They own all this crazy amountof land and it's like wow,
(19:24):
no-transcript.
Kamyar Rezaie (19:25):
I like your strategy better than that one.
Dwan Bent-Twyford (19:27):
I'm like and I said, and he's like, I know we
can't change anything and I waslike, so you should do this.
But so, yeah, I don't.
Sometimes I don't think people,I don't know they, maybe they
don't think far enough ahead.
But now, when you guys do acommercial loan, how long are
those loans?
Kamyar Rezaie (19:42):
It depends.
It can be as short as, say,about 40, 45 days, as long as
you know, 90 days or 120 days,depending how you know just
intense it is and the type ofproperty.
Dwan Bent-Twyford (19:54):
I mean, how long are the loans?
For?
10 years, 20 years?
Kamyar Rezaie (19:57):
So on the SBA side, when they're owner
occupied, you can do a 25 yearfixed, amortized over 25 years.
So it's fixed throughout thewhole period.
There's also, you know, 5, 7,10 available on those and then
on the conventional owneroccupied loans are typically,
you know, like 10 over 20 or 20years fixed, amortized over 20
years.
And on the investment sidethey're either three year fixed,
(20:19):
five year fixed, seven yearfixed, 10 year fixed, amortized
over 20, or amortized over 30years.
Dwan Bent-Twyford (20:25):
Well, that's nice.
So then you guys get out of.
You get kind of in and out ofthem pretty quickly.
Kamyar Rezaie (20:29):
Well that's nice.
So then you guys get out of it.
You get kind of in and out ofthem pretty quickly.
You know when the rates werereally low back after during the
COVID days.
Oh yeah, majority of my clientson fixed on the whole term if
it was available and they areloving life right now.
Dwan Bent-Twyford (20:41):
Oh yeah, oh yeah.
Well, I always tell people youalways want to get along, you
always want fix, you wanteverything to be fixed all the
time, because you just neverknow what's going to happen.
I remember back in the days Idon't know maybe in the 80s or
90s maybe, when they had allthose adjustable rates and
people's payments were going upto these crazy amounts and it
was like, hmm, but I have neverhad one of those.
(21:04):
I watched other people strugglewith it.
I thought I'm never going to dothat.
Kamyar Rezaie (21:08):
Well, the rates in the late 70s, early 80s or in
the 80s were up to 17%, 18%.
Dwan Bent-Twyford (21:14):
I can remember Now I was like in my
20s and the 80s, so probablybefore you were ever born.
But I do remember my parentswanting to buy a house and the
interest rates were like 18% orsomething and I didn't know
anybody else.
I'm like, oh, that doesn'tsound bad.
But then as I got oh, I gotinto real estate, it's like, oh,
my god, who would buy a housewith a even a 15 percent
(21:37):
interest rate?
Why would you do that?
You just wait, or something.
But I remember hearing myparents talking about it and
then, and then later on you knowthey refinanced the house when
rates went way, way, way, waydown.
But I can still remember thembeing like and that, looking
back, it's like God, 18%, likewho did that?
But I think everybody did right.
Like, if you wanted to buy ahouse, that was the deal.
Kamyar Rezaie (21:59):
That was the norm .
Dwan Bent-Twyford (22:00):
Do you imagine right now buying a house
with 18% interest on it?
Kamyar Rezaie (22:04):
No.
Dwan Bent-Twyford (22:05):
I mean golly.
Kamyar Rezaie (22:07):
The last two, three generations won't
understand it.
Dwan Bent-Twyford (22:10):
No, no, and I was not into real estate or
anything.
I just can remember themtalking about the interest rates
and like being high school-ishand learning about.
We had those classes calledfamily living and you learn how
like things kids don't knowtoday how to balance, checkbook
and you know this sort of stuff.
(22:32):
In the one class it was a onesemester they took the guys and
the girls and put them intogether and they coupled you up
, so you and the guy you were,you had to plan a wedding, um,
we all went to a church and didlittle vows and we had to have
budget and we had to figure outmortgage payments and how to
budget and how to do a checkbookand how to do all this stuff in
(22:54):
high school and I was like, oh,it's too bad they don't teach
kids that today, because kidsget out of school they don't
even know how to deal with theirmoney or their credit cards or
any of their stuff like that.
But part of that class was thatand looking at, you know, can
you afford to buy a house andhere's what the payments are,
(23:15):
and it was just.
It was really a really funeducational class.
But I remember even in theclass the interest rates and
learning.
Like you know, the payment isthis much and if the interest is
that you can only afford thismuch for a house, because this
is what the payment is, and nowyou know, if you get a 7%
interest rate, you can get thatmuch house and still have the
same payment.
Kamyar Rezaie (23:34):
Right.
Dwan Bent-Twyford (23:34):
I learned even in high school that you can
get more house if you have lessinterest.
And I looked at my parents.
I was like you guys bought ahouse like that.
Yeah, it sounds like it's crazy.
It sounds like crazy stuff tome, so all right.
So what is one actionable tip?
Kamyar Rezaie (23:51):
If someone's like , hey, they're just hearing you
for the first time, they'reinterested, they want to contact
you, give them a tip, some kindof actionable tip about finding
a property, looking at aproperty, how to assess a
property, something that someonecan listen to and go oh, I
(24:11):
could do that.
Well, nowadays because ofCHAP-GBT, it's much, much easier
, right?
So the first thing is numberone look at your credit report
again.
You know you go to Experiancom,look at your credit report for
free, make sure everything isreported accurately, there's no
derogatories and everything.
(24:33):
Number two you know, go focusdown on an area you want to
invest in, especially if it'syour first or second commercial
property, either as investmentor owner occupied.
Try to be as close to it aspossible.
You don't want it to be far.
Okay, you need to be hands on.
And then after that, you know,look at, are you looking to buy
a property that isowner-occupied or investment?
If it is investment, do youwant a small shopping center?
(24:57):
Do you want a small industrial?
Do you want a multifamily?
You know, go read aboutresearch about it and see which
one.
And then, once you zoom in onthat, you know you can go on
LoopNet for free and searchproperties available for sale
and, you know, locate some.
And you can always contact me.
I can look at the property andsend you a free underwriting
(25:18):
report on that property.
Dwan Bent-Twyford (25:20):
I was going to ask you.
So if someone came to you andthey're like, hey, listen, cam,
you know I found a property andit's my second one I think it's
like a good deal you might helpthem look at it and say, hey,
listen, based on the numbers,this is not a good deal.
Kamyar Rezaie (25:35):
Sure.
Dwan Bent-Twyford (25:35):
Cause, not that you went alone on it, but
would you help a person?
Like based on all this theseare the reasons this is a
financial, not a sound deal Likedo you step into that role and
help people?
Kamyar Rezaie (25:48):
step into that.
After I give them a costarunderwriting report, I have them
review it First.
I want to see what theiranalysis is after reviewing the
report and then I can give themmy thoughts.
Yeah.
Dwan Bent-Twyford (26:00):
I always feel like if you're in any area of
investing and you haveexperience, I feel like it's
that anybody should go to,especially anybody new, like hey
, listen, I know like I getstudents like, hey, I want to
buy this house.
I know you want to buy thishouse, but here is the reality
of you buying this house.
So if you want to buy it, buyit, but I'm recommending not,
(26:23):
right, I feel like we shouldhelp you know?
No, definitely I helped them,but I want their analysis.
Kamyar Rezaie (26:30):
Right, help, you know?
No, definitely I helped them,but I want their analysis.
Right, I want their analysis.
I want to see what their gutfeeling is, how they're
approaching it with all theinformation that's being given
to them, and then I can say youknow, are you parking all your
money or are you trying to, youknow, grow your money?
Dwan Bent-Twyford (26:42):
yeah, that's even good there.
Are you parking it or growingit?
Yeah, see, I.
I really love commercial.
And the funny thing is peopleare like, oh, you should write a
program.
I'm like, listen, I boughtthese properties on my own
personal use, to keep till theend of time.
I honestly don't know if I evenknow enough to write a program.
I'm teaching people aboutbuying commercial because of all
(27:04):
that stuff you talk about.
Kamyar Rezaie (27:05):
Sure.
You know, and it's like youknow, for clients or if they
ever have questions or anything,I'm always here to help them,
you know, guide them, you know,give us much information that
they need on it.
Dwan Bent-Twyford (27:16):
Okay, all right, let's talk about
something else, cause everybodyalways wants to know about you
and what you're doing.
What's your favorite band ofall time?
Kamyar Rezaie (27:23):
Favorite band of all time, uh, green day.
Dwan Bent-Twyford (27:27):
Oh man, I love green day.
You, you know it's funny.
When my kids were in highschool they wanted to go see
green day and my husband, Ibought them tickets and like you
know, and we were like we'renot gonna go see green day as a
bunch of punk whatever, and thenlater on we actually listened
to a couple of the albums.
(27:47):
It's's like dang, green Day isso freaking great.
I cannot believe we justdropped the kids off and went to
go eat because we didn't wantto go see Green Day.
It's like what were we thinking?
But you know, we were a littleolder.
We were like, ah, you know theway they look and they're great,
right.
Kamyar Rezaie (28:04):
They're great.
Dwan Bent-Twyford (28:06):
Their voices.
They're there.
That their voices.
That song Broken Boulevard,broken Dreams.
I swear to you I think that'sone of the greatest songs ever.
It's just I don't know.
That song moves my soul.
What's your favorite food?
Kamyar Rezaie (28:20):
Sushi.
Dwan Bent-Twyford (28:21):
Me too.
I had sushi for breakfast today.
I haven't done that I boughtsome yesterday, I ate some.
Done that, I bought someyesterday, I ate some.
Last night I was like, oh, I'mfull.
I was like you know what.
So I got up and I'm going toeat sushi for breakfast.
So, oh, so good, what's?
Kamyar Rezaie (28:39):
your favorite time of day.
What is your?
Dwan Bent-Twyford (28:40):
where's your happy place, where you're just
like, oh man, this is great.
Kamyar Rezaie (28:44):
You typically in the morning, cause I wake up
first thing in the morning andgo work out and get my
endorphins going, so I love themornings.
Dwan Bent-Twyford (28:53):
Yeah, yeah, yeah, yeah, most people do.
All right, so how can thepeople of Dwanterful, the
Dwanterful world, how can wehelp you reach your next big
goal?
Kamyar Rezaie (29:07):
Basically I'm looking to.
My focus is I appreciateeverybody to be able to help me.
I like to help them buy thefirst building because I like
people to, in 10 years, 15 yearsfrom now, you know, call me and
say, wow, thank you for youknow helping me buy this
building.
You know business has been good.
We're paying off the building.
We're leaving a good amount ofequity for our kids, our
grandkids.
I get a lot of those calls nice.
Dwan Bent-Twyford (29:28):
I know, that is nice, isn't it?
Yeah, I like it when my sistersent me a copy of one of their
checks, it's like oh, thank you,that's so great yeah I get a
lot of clients be like, lookwhat if I want to pay this off
sooner?
Kamyar Rezaie (29:42):
you know, and we go when they send the loan docs,
majority of them allow for 20extra 20 of payments a year.
So I've, you know, clients thatare sometimes paid off in the
12, 15, 15 year range and youknow, once they get that you
know it's paid off.
They call me like you know what?
I paid off this building.
I'm very thankful.
Dwan Bent-Twyford (29:58):
And they're so excited.
Kamyar Rezaie (29:59):
Yeah, it's a great feeling.
Dwan Bent-Twyford (30:01):
Yeah, it is a great feeling, all right.
So all of you out there in thewonderful world, this is the
most wonderful real estatepodcast ever.
Anybody looking for any kind ofcommercial loans or whatever,
you need to go to Cameo, becauseif you come to me and ask me a
bunch like about money andfinance, I'm going to be like
listen, I just got to send itsomeplace else.
I don't know and I'm alwayshappy to admit when I don't know
(30:24):
, because nobody knowseverything and it's just not my
arena specifically.
But I?
Kamyar Rezaie (30:28):
I mean, I'm happy to help you look at a building.
Dwan Bent-Twyford (30:30):
I'm happy to give you my opinion.
What comes down to all themoney and the crunching?
Yeah, I'm gonna send you tothis young man because it's out
of my box and you know, thetruth is I am enjoying the part
of real estate that I'm lockedinto as far as my mentoring and
my training, and I tell people Isaid I don't really want to go,
(30:51):
take the time to learn all ofthat, when there's people like
you that already know it all.
So if that's what someone'sexpertise is, just go there.
You don't need to reinvent thewheel.
My expertise is wholesaling,rehabbing, short sales it's like
you don't need to reinvent thewheel.
I'll teach you everythingexactly.
Having short sales it's likeyou don't need to reinvent the
wheel.
I'll teach you everythingexactly.
(31:12):
No mistakes.
Kamyar Rezaie (31:12):
They want to buy property like that, they go to
you Right.
Niche expertise is the best Ibelieve in.
Dwan Bent-Twyford (31:16):
It really is, and I think people still just
try to look at all the people,all the shiny objects, all the
stuff.
That's like, listen, just go tothe person, how long have?
Kamyar Rezaie (31:27):
you been doing this 21 years Okay 21 years.
Dwan Bent-Twyford (31:29):
So go to someone like 21 years, I mean
that's good experience, I got 35.
Go to someone who's been doingit for a long time.
Let them teach you, let themhelp you cut your learning curve
.
And I tell people like, stoptrying to reinvent the wheel,
stop listening to this webinarand this thing and that shiny
object.
Then try to put it togetheryourself.
Just go to someone that canjust help you, right, absolutely
(31:51):
.
I'm glad we agree on that.
Okay, so, everyone, I'm goingto ask you a favor.
If you had fun today or youlearned anything you liked both
of us I want you to leave me afive star excuse me, five star
review and write something.
Nice.
Five stars.
Write something and subscribe,because I can't reach too many
(32:11):
downloads without you.
And one last thing for you Ialways like our guests to give
us a word of wisdom, but justone single word.
Kamyar Rezaie (32:26):
Trust.
Dwan Bent-Twyford (32:27):
Okay now, trust.
Okay Now.
So, for my wonderful world,what I always ask people to do
is write it on a little stickynote, put it on your mirror and
every time you're brushing yourteeth, whatever you're doing,
you just say the word trust,trust, trust, trust, trust.
So we have a word of the week,so that is the word of the week
this week.
Now tell me what does that wordmean to you?
Kamyar Rezaie (32:53):
People trust me to be able to help them get
financing because I deal withtheir social securities, I deal
with their whole life, so it'snot easy to obtain that trust.
Dwan Bent-Twyford (33:03):
Yeah, that's true, because that's trust that
it's hard to gain and it takes ananosecond to lose it.
Correct, okay, I like, correct,okay, I like that.
Okay, so trust folks, that's it.
So the word, then, is going tobe trusting people, learning to
work with the right people,helping you in your life, your
finances, your things, andtrusting that they're going to
do a good job and steer you downthe right path.
Right, correct, okay, I love it.
(33:26):
All right, guys.
So we will be back next week,same bat time, same bat channel,
and remember that the truth isin the red letters.
All right, everybody, I'll seeyou next week.
Kamyar Rezaie (33:37):
All right, thank you.
Dwan Bent-Twyford (33:40):
Oh, and thank you so much for being on.
Kamyar Rezaie (33:42):
Thank you for having me.
Dwan Bent-Twyford (33:42):
See you next week, okay.
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