June 4, 2024 • 40 mins
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Ever wondered how to strike the perfect balance between being a disciplinarian and letting your children find their own path? Kurt Buchert, a seasoned real estate expert from Florida with roots in New Orleans, shares his unique parenting philosophy with us. Hear his engaging stories about nurturing his children’s interests, like his son's journey from casual sports to a budding passion for football. Kurt emphasizes the importance of a stress-free environment and the evolving nature of parenting, especially when raising the first child.
Kurt's insights don’t stop at parenting; he brings a wealth of knowledge from his extensive real estate career. Listen as he recounts navigating the tumultuous aftermath of Hurricane Katrina and the 2008 financial crisis, seizing unique opportunities in the New Orleans market. From humorous anecdotes about undervalued properties to strategic investment tips, Kurt offers a compelling narrative on capitalizing on market dynamics. We also dive into the evolving landscape of wholesaling and the potential impact of rising interest rates on the multifamily sector.
As if that weren’t enough, Kurt takes us on his personal fitness journey, from running his first ultra marathon to discovering an unexpected love for pickleball. Despite the challenges of inadequate training for a 50k race, he found surprising benefits in daily pickleball sessions. Beyond personal fitness, Kurt and his family launched a successful Pilates studio in Florida, blending passion with entrepreneurship. Tune in for an inspiring episode filled with wisdom on parenting, real estate strategies, and the rewarding intersection of fitness and business.
Connect with Kurt
kurtbuc@gmail.com
Tony Johnson is a Commercial General Contractor. Timeless Properties Construction Co. has been in business since 2007. He does all things commercial. Developing, Building, Upfits, and Renovations for Retail, Office, Industrial, and Multi-family. Timeless Properties is licensed in North and South Carolina. Contact them today for your construction needs. www.timelesspropertiescc.com
info@timelesspropertiescc.com
Discovering his passion for construction when entering the industry over 20 years ago, Tony obtained his general contractor license and created Timeless Properties Construction Co in 2007. The company has performed an Proving that grit and passion can overcome any challenge, Timeless Properties Construction Co navigated the worst real estate collapse in our lifetimes under his leadership. Coming out of the recession Tony made sure he kept a strong focus on building relationships, quality work, honesty, and integrity. With over 160 million on construction volume to date Timeless Properties Construction Co has grown to an area leader of Commercial Construction in eastern North Carolina.
Tony launched Timeless Capital Investments LLC in 2022. This company was formed to create an avenue for partners to invest alongside Tony Johnson on commercial development and value add of existing commercial buildings. Tony aims to help fellow investors take part in profitable projects that they otherwise would not feel comfortable undertaking. By leveraging his construction and
To learn more about Tony Johnson and Timeless visit us at:
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https://timelessco.com/
https://www.linkedin.com/in/tonytimeless/
If you would like to discuss investing in Commercial Properties create a profile and schedule a call:
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Reach out to us directly at:
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tony Johnson (00:01):
Welcome to another episode of Carolina Commercial
Real Estate Connection.
Today we have Kurt Bichart withus.
Kurt is out of Florida, grew upin New Orleans, louisiana has
been in the real estate industryfor over 10 years, buying,
holding and renting outproperties in mainly the New
(00:22):
Orleans area.
Kurt, thanks so much forjoining us.
Kurt Buchert (00:25):
Yeah no problem.
Tony, Glad to be here.
Tony Johnson (00:28):
Yes, sir.
So Kurt is a very funny guy onsocial media, which is what drew
me to Kurt originally.
He's always got great comments,so he's been a great person for
me to follow on social mediaand get to know.
He's in a group, gobundance.
I'm in and I'm happy to havehim on on the show today.
Um, one thing, uh, kurt, I Ireally just wanted to bring up,
(00:52):
just because it's awesome to me.
I'm a family guy.
Um, we both have, uh, fourchildren and, um, you know, a
boy and three girls.
We both share that.
What has been the biggestchallenge for you about
parenting, or the biggestadjustment that you're making,
(01:13):
or the biggest joy you have withit?
Kurt Buchert (01:16):
I think one of the challenges of parenting is to
know when to be, you know, thedisciplinarian versus, you know
letting your kids kind of roamand discover them, discover
things themselves and make theirown mistakes.
And that is always a fine lineto walk down because you don't
want to be that guy where yourkids look back and you know dad
(01:40):
never let us do anything and hesuper strict and we were scared
of him and all that kind ofstuff.
But you also don't want I alsodon't want to be one of those
like wimpy dads where I'm likeyou know we're crying with them
every day over somethingridiculous and make them too
sensitive because you need to bea little bit tough in this
(02:03):
world.
So that's kind of a fine lineto walk.
I feel like with children I'mlearning my ways there.
Tony Johnson (02:10):
Yeah, I love that.
Yeah, you know, that's one ofthe big things with me.
Is I really, as my kids are nowgetting older, one of the
biggest, I would say, thingsthat I pushed my kids as they
were younger and now gettingolder, I don't know that was the
smartest things.
I pushed my kids as they wereyounger and now getting older, I
don't know that was thesmartest things.
I pushed my kids and forcedthem like you have to play a
sport, you have to play a sport,you have to play something, you
(02:32):
have to do something.
You're not just going to sitaround, you know, do nothing.
And so my oldest son, the 16th,he's like I hate soccer because
you forced me to do soccer forso long.
Well, I wanted you to dosomething.
You know, do you have your kidsplay sports or activities that
you bring them into or let themmake their own choices?
How do you do that?
Kurt Buchert (02:50):
Yeah, so that's a.
That's a.
That's a great story rightthere, because my, my son's nine
and about a year and a half ago, from age seven and a half
under you know, I'd occasionallyask him like hey, you want,
want to go throw football or dosomething with football or
whatever, and he never had anydesire, he never wanted to.
Like I like LSU football andsometimes I watch, used to watch
(03:12):
the Saints, and you know I usedto ask him if he wanted to
watch it with me.
He never had any desire, likezero desire, like adamantly did
not want to do anything withfootball and then about a year
and a half ago, I think, hestarted playing football at his
school with his friends duringrecess and in the last like year
or so the kid has gotten likecompletely obsessed with
(03:35):
football.
Like he knows every singleplayer in the NFL.
He knows where they went tocollege, their position, he
knows everything.
He knows like Super Bowlhistory, like he watches like
random games on YouTube fromlike years ago, like all these
highlights, and he wants to playit all the time.
He wants to go throw it in thethrow it in the street in front
(03:56):
of our house all the time.
And I never pushed him ever,just kind of like casually asked
him a few times when he wasyoung and I was like okay, I
guess he's not interested inthat.
So that was kind of like anepiphany, like okay, well, you
don't have to pressure thesekids, they're going to figure it
out on their own.
But I will say like I like tointroduce them to things.
Like you know, we live inFlorida, so, like you know, I've
(04:16):
given them tennis lessons.
I go out there and I lovepickleball.
So we, you, we, you know Ibring them out there to hit pick
a ball with me and you know Iusually make a bet with them.
Like, hey, if you can hit it,if we hit it a hundred times
over the net in inbounds in arow, you know I'll go buy ice
cream or something like that.
So I kind of like incorporatethings like that, but I don't
(04:37):
like put pressure on my kids anyof that stuff.
I don't think that's a goodidea.
Tony Johnson (04:43):
Yeah, I don't think that's a good idea.
Yeah, I would say for myexperience it was not a good
idea.
They more rebel when you'repushing, pushing, pushing and so
obviously with my younger kidsnow.
So the first kid is always thelearning curve they have like
the worst.
I'll bring it if you're theoldest kid in the family because
it's like you're the learningcurve for the parents, the first
kid going through figuring outwhen you do everything wrong
(05:05):
with the first kid, then for therest of the kids you do much
better.
Kurt Buchert (05:08):
Yeah, I try to look at it mathematically the
chances of my kids, or most ofour kids, but especially my kids
of being professional athletes.
It's so low that for me itwould just be kind of idiotic to
like put pressure on them to dosomething like that.
(05:28):
And then you know, like most ofus, I want our kids to, I want
my kids to be involved in sport,just because you know being
healthy being around teams, youknow the social interaction of
it is great.
So I think all those things areimportant, yeah getting out of
the house like not sittingaround playing video games and
(05:49):
watching tv that's exactly mypremise.
Tony Johnson (05:52):
I just want the kids out doing something, right?
My, yeah, it's.
It's hard.
These days the kids get suckedin on electronics and you know
it's.
It's so bad for their brain andmind just to sit there on the
electronics yeah, I mean, that'sone thing I'm a stickler about.
Kurt Buchert (06:07):
I will literally throw my kids out.
You know it's so bad for theirbrain and mind just to sit there
on the electronics.
Yeah, I mean, that's one thingI'm a stickler about.
I will literally throw my kidsout of the house and lock the
door.
So I will literally say gooutside, leave, do not come back
.
I mean I've had it where, likemy son knocks on the door like
Daddy, I gotta go to thebathroom, and I say, no, go in
in the forest, because we have aforest behind our backyard and
you just go in the forest likehe doesn't need.
(06:29):
He doesn't need to come insideto go to the bathroom that's
amazing, my daughter, mydaughter's, I probably let them
in.
Tony Johnson (06:37):
Yeah, that's awesome, all right.
So uh, let's dive in a littlebit.
Uh, go back in time and I knowit's 10 plus years, but I think
you said you had one, was yourfirst property purchased.
You said 21 years ago.
How long ago was the first?
Kurt Buchert (06:50):
Yeah, 2003 was my first purchase.
I was 25, 26 years old.
I bought a duplex and that wasmy first real estate investment.
Everybody told me not to do itbecause it was kind of a little
sketchy neighborhood.
It was a gentrifyingneighborhood but it was a little
sketchy.
Caught a guy doing crack in thebackyard the first night.
I stayed there and I thought hewas stealing my car.
(07:13):
I pulled a gun on him and thatwas my first night of real
estate investing.
Was I pulled a gun on somebody?
Tony Johnson (07:21):
So that was fun and that was a duplex, you said
and actually I still.
Kurt Buchert (07:27):
I still own that property to this day so it's you
know, I've had it rented for 21years and it's it's been great,
a great investment property sodid you have at that age?
Tony Johnson (07:39):
I mean, did you just have your buddies move in
and pay you rent and or how was?
How were you laying that out?
Kurt Buchert (07:45):
So I rented out one unit to a couple a young
couple and then I lived in the.
There was there were both twobedroom units and then I lived
on the other side by myself andthen I used the spare bedroom as
my office.
Looking back, I probably shouldhave like, yeah, I probably
should have had a buddy of minemove into one of my, to my spare
bedroom, and then I would haveliterally made money owning real
(08:05):
estate.
But like you know, the other,the other couple, the other unit
paid my mortgage and a littlebit more, um, so I was just out
of pocket like insurance andtaxes and stuff.
So I was like cool, like I waslike like I'm a man, I'm, I'm
like living for free, basically,and, um, I need to do this
again.
So I just started doing itagain and again, and again, and
again.
Tony Johnson (08:26):
So you kind of walk me through again and again
and again how, what was thetimeline?
How did you kind of build up?
Did it start to snowball at acertain point?
Kurt Buchert (08:36):
Yeah, I mean I was a financial advisor out of
college and I read a lot ofbooks on, you know, investing
and real estate investing,things like that.
So I knew kind of like thebasics of it, but I just didn't
really have any capital oraccess to capital.
So the you know, the firstproperty you know I kind of had
(08:56):
to like beg, borrow, steal toget that property out of my belt
.
And then there was anotherhouse that went for sale like
down the block, I don't know twoyears later, and I just didn't
have the money for it.
But I had one of my bestfriends had some money, he was a
really frugal guy.
So we went in together we did arenovation and then we rented
it out.
It was another duplex and itworked out well.
(09:19):
And then and then he I don'tthink he was that comfortable
with doing that stuff back thenand like he was more of a
corporate guy, so I don't knowwe kept that for maybe four or
five years and then we sold it.
But I was buying otherproperties after that.
But what was funny is yearslater then he kind of changed
(09:42):
his tune and then we startedbuying a lot of stuff together.
So you know, you have to.
I kind of learned a lesson withpartners you have to have
people that are like willing andable to kind of get dirty and
have that entrepreneurial spirit, because if you know you're
doing this with like kind ofcorporate people they're they're
not going to feel thatcomfortable doing real estate,
because real estate you got tokind of get dirty, sometimes A
(10:03):
lot of times.
Tony Johnson (10:05):
Yeah, a lot of times.
I agree with that.
So this, this gentleman thatyou've and you've continued to
partner, do you?
Are you still in?
Kurt Buchert (10:14):
business yeah, we.
Tony Johnson (10:20):
How do you guys match up with each other?
Do you ever do any?
I'm very big into likecognitive surveys and
understanding people's strengthsand weaknesses, and you know as
far as partnerships go to makesure you jive.
Do you have differentattributes that one of you
thrives at and the other one youknow can use to help with?
Kurt Buchert (10:40):
So typically, I mean when I was actually living
in New Orleans at the time so Iwas always like the on the
ground guy and, you know, kindof the get dirty guy, and I was
a little bit more aggressive, alittle bit more of a loose
cannon and then he was kind ofthe guy doing a lot of the back
office stuff because he actuallylived in Texas.
He lives in Texas and he wasdoing a lot of the the back
(11:01):
office stuff.
He was a licensed real estateagent so he would do the buying
and selling, he would find allthe deals and he was like
awesome at that and finding thedeals and then I would handle
all the renovations.
Like you know, I was basicallysubcontracting everything out
myself and I would manage thetenants and deal with the leases
(11:21):
and show the apartments and allthat kind of stuff.
You know, now that I've movedto Florida and we're not really
doing many projects anymore, wehired like a leasing agent that
does our leasing in New Orleansand then I still manage the
properties and then he manageslike buying and selling stuff
(11:42):
being an agent, and then he kindof does more of the numbers and
spreadsheets and all that kindof stuff and I'm comfortable
with spreadsheets and all thattype of stuff.
That's just not like you know.
That doesn't like fill my cup.
Really.
I don't like love sitting thereand staring at spreadsheets.
I can, I mean, I have theability to.
It's not like it's Greek to me,but I just don't love doing it.
He's a little bit moreanalytical like that.
Tony Johnson (12:10):
Yeah, just what you're telling me is, yeah, you
can.
Those are the differentattributes that would somebody
be strengthening and, you know,gives you joy and fits exactly
what you do, so you thrive at ittoo.
Yeah, you can do thespreadsheets, but it it drains
drains all your energy, youdon't get energy from it.
It's kind of like, yeah, itdrains, drains all your energy,
you don't get energy from it.
Kurt Buchert (12:25):
It's kind of like, oh, who wants to do all this,
right, yeah, yeah, I mean I, youknow 46 now and like, yeah,
that's definitely somethingyou'll learn.
If you don't like doing it,you're not going to be good at
it and it's it's not going to gowell, like you need to kind of
enjoy doing it.
Tony Johnson (12:40):
What you're doing does not give you energy and
give you the motivation anddrive to continue doing it and
make you happy, then you're notdoing the right thing for
yourself so and you probablyaren't thriving and you'd be
better better off doingsomething else that gives you
that energy, right exactly?
Kurt Buchert (12:54):
like I like, I like this stuff.
He would.
He would hate it, he wouldnever go on a podcast, he would
just never do it in years so sowalk me, because you got in
early, so we're right around thesame age.
Tony Johnson (13:05):
So I was also kind of going and starting things up
around 2006, 2007.
And there was so much happeningand it sounds like you'd gotten
in before.
That was on the tail end of thedot-com bust, right when you're
coming in.
And then you've got thisbuild-up what, how was your
(13:26):
impact?
And how did, how did you guyshandle the rise up and then the
crash?
What?
What was your positioningduring that?
Kurt Buchert (13:36):
so luckily or unlike you know, actually
luckily we um, in summer of youknow, august 2005, new or
Orleans got hit by Katrina, sonationwide that was actually
when real estate was stillrising a lot till 2007.
So we got hit by Katrina, whichobviously was a catastrophic
(13:57):
event.
So we never saw that like hugebubble, like a lot of the rest
of the country got, because wehad got hit by Katrina a few
years before.
So when the bubble, the realestate bubble, burst in 2008,
that affected us a little bit,but not really much.
It actually was great for ourbusiness because people just
didn't want to have anything todo with real estate.
(14:18):
So we were able to buy a lot ofproperties for really cheap
prices.
There's a funny story there wasa property listed for $10,000.
And there were so many dealsout there that we just had a
joke, my business partner and I.
We had a joke between us like,hey, let's try to buy a property
(14:39):
for $1,000.
So we offered $1,000 for thisproperty and it was.
You know, it had flooded atKatrina, had a lot of damage,
but it had a structure to it.
It'd be, you know, it couldhave renovated and everything.
So we made the offer for athousand.
They countered at $2,500 and wesaid no, and we didn't buy it.
(15:00):
So we wouldn't buy it for$2,500.
And I think, like I don't know,three years after that it's in
the same condition.
It sold for like $90,000.
Tony Johnson (15:12):
That's how like, that's how much people just did
not.
Kurt Buchert (15:15):
they had so much inventory in new Orleans of like
flooded, messed up propertiesand that's how much people did
not want to deal with realestate back then that we could
have got a property for $2,500.
And we said no.
Tony Johnson (15:29):
That is amazing.
Yeah, I can completely rememberhow, now that you've gone and
reminded me of that, you know,just looking at all the X's on
all the houses that were justlike, yep, this one's fucked,
this one's fucked, you know,this is just a mess.
So, yeah, there was probably anabundance and then it's just,
you know, the mentality is to,oh my gosh, stay away, this is
(15:50):
going to be a disaster forever.
To where you guys are like,okay, now let's go figure out
what we can do to get this stuffas cheap as possible and go
dive in, which is still.
You know, there's still there.
Still there's some hesitancythere, right, and it's like also
, how much available capital youhave.
You could, obviously, if you'vegot enough capital, you go buy
up.
It was like what can you really?
How much can you afford, right?
Yeah, so we, basically we had ahybrid strategy.
Kurt Buchert (16:12):
There were some properties we were buying,
renovating and then just holdingas long-term rental property
for the cashflow because thatwas kind of important to us.
But you know you needed capital.
So there's a lot of propertieswe would just sell and we did a
lot of like the whole tailingwhere we would buy from a
wholesaler and then we wouldsell it on the MLS and there was
(16:41):
an arbitrage there and a lot oftimes it was some big, was some
big time arbitrage.
And there's early days, causethat was kind of the earlier
days of wholesaling wholesalers,I don't think a lot of times
they knew what the propertieswere worth.
So we made, we had some reallygood deals on that, on that
strategy.
Nowadays, like a lot of thesewholesalers, I don't even think
the deals are that good, to behonest with you.
Tony Johnson (17:00):
Yeah, these wholesalers service they call me
.
I'm like I wouldn't.
This isn't even a deal.
Yeah, why are you even bringingthis to me?
Kurt Buchert (17:10):
yeah, I mean we haven't bought anything in a
while, just you know in years,just because of that.
I mean we just don't really seethe deals out there anymore.
Tony Johnson (17:17):
So yeah, that's why there's a disconnect, I feel
like, with the youngerinvestors that are coming in, to
the people that have beenthrough this for a while.
When you see the market and itgoes up and comes down and then
the younger generations come in,they just have seen up, up, up,
because it's been just steadilyrising now for, I mean,
(17:39):
unprecedented amount of time,almost 14 years.
So what do you feel likethere's going to be some type of
some event that could come upthat could cause a major dip in
the market, whether it'smultifamily, residential,
commercial.
Yeah, I mean, we're seeing italready multifamily.
Kurt Buchert (18:00):
You know a lot of the.
Since the rates have gone up, alot of these deals that were
marginal deals are kind of blownup.
So there are.
There is some stress in themultifamily Since the rates have
gone up.
A lot of these deals that weremarginal deals are kind of blown
up.
So there is some stress in themultifamily world out there,
especially a lot of thesesyndication deals.
Residential man, I don't know.
I mean here where I live now wehad such a huge run up from
(18:22):
2020 to 2023 that we're nowseeing probably 15 percent
correction from the high whichwas probably late 2022, early
2023.
We've seen probably a 10 to 15percent correction from that.
But I don't know if residentialis going to get hit that hard
(18:45):
because there's so many peoplewith low interest rate loans and
they're probably not going tosell, so there's not going to be
like an oversupply of inventory.
But commercial is probably adifferent story.
I mean we've seen it in officeand multifamily They've gotten
hit pretty hard.
So there'll probably be somedeals there in the next six
months to a year.
Tony Johnson (19:05):
Yeah, and the thing is when you say that with
multifamily, you're seeing the,the amount of new product coming
online is also unprecedented.
I hire a lot of these.
You know we haven't seen theamount of inventory coming
online since the eighties.
So with the excess newinventory coming on, some of
(19:27):
this older product that seems tobe at a deal pricing right now.
I don't even know if it's adeal, because when you have the
new inventory coming on and thenthey're having to give specials
and cut their rates, people areway more amped to rent a new
pro or to rent a new productthan these older ones.
I don't care how you renovatethem, it'd be?
Kurt Buchert (19:49):
yeah, totally.
I mean a new product is goingto be much more attractive.
But you know some of these newplaces like there's some places
around here that have gone up inthe last few years that are
like like where my in-laws live,I'm like man, I would live
there, like that's nice.
They have like an awesome gym,like their pool is like country
club type pool, yeah, hot tub, Imean just really nice place to
(20:12):
live and porches and everything.
And you know some of these.
Yeah, some of these datedproperties in the 70s and 80s
with, you know, eight footceilings and a little bit more
depressing.
Yeah, I don't know how they'regoing to do, but I mean, I think
a lot of it goes back tolocation.
You know, if you're in a, youknow if I invest in a passive
(20:34):
deal, you know I'm looking fordemographic tailwinds.
You know a place people want tomove to and then in that area,
is it a good neighborhood that'speople always want to live in,
rather than a marginalneighborhood, because we've seen
that last few years too.
Like you know, some of these,some of these cities, in most
(20:56):
cities in the country just seena big crime increase.
So some of these areas thatwere gentrifying before 2020
have kind of turned the otherway and have gotten pretty bad.
I mean, we saw it.
We've seen it in New Orleans.
Tony Johnson (21:09):
So walk me through .
So just so people who arelooking and thinking about you
know, investing passively insomeone's deal.
I know you kind of touched on ahigh level.
What all do you look for ininvesting in someone and what
they're offering?
Kurt Buchert (21:29):
Yeah, I mean, my first bit of advice would be to
be extremely picky.
So, you know, I would just sayno.
Just your default status shouldbe no, I'm not investing in
this, and then work your way upfrom there.
So if your default status is no, then you know.
You know, if it's a greatoperator, they've been doing it
(21:52):
for a long time.
They have an awesome, you know,rate of success.
You know, maybe you talk to someof their investors, maybe you
get to see how their portalworks, cause, like some of these
guys, just not great with thetechnology.
So you want to make sure theirportal works well and it's
updated all the time.
You know, you want to make surethey you know they have a
(22:13):
history of paying their, theirpreferred return.
You know whether they pay thatmonthly or quarterly or whatever
.
You know, some of these guys dothese deals and they just they
pay for a couple of months andthey just don't pay for two
years and whatever, you knowsomething.
Something came up.
So, yeah, you just, I mean, youknow, and a lot of times you're
betting on the jockey, not thehorse.
So you know, you want to makesure that the operator you're
(22:37):
with, first of all.
They know how to operate a deal, they know how to run real
estate, they know how to managea property, because there's a
lot of guys on the internet thatare very good at selling the
sizzles and they're justprobably not great operators.
If they have the skillset to beall over social media selling
(22:57):
know, selling these, sellingthese deals, they're probably
not going to have the skillsetto manage a property.
So they either they either needto be partnered with somebody
who's a great operator, or theyneed to be like that unicorn
that can also operate a property, which is which is rare, cause
I mean operating a propertythat's tough work.
Nobody's going to be there withyou.
(23:19):
You, you high-fiving you whenyou have to evict somebody, or
somebody's squatting orsomebody's not paying rent or
you got to deal with somebody'sdog crapping all over the
property.
I mean just stuff like that.
You need somebody in therethat's hardcore and can get
after and run a tight ship.
Tony Johnson (23:37):
Yeah, that's critical and I would 100 is and
I would a hundred percent agreewith that.
It's.
It's almost more the operatorand the team that's handling the
deal, then the deals.
Those people are the ones thatthey either can make or break
the deal.
So everybody's got, you know, arosy picture of what can happen
, but you know, when rubbermeets the road, who's going to
(23:57):
actually implement that plan andbring it to fruition and make
it happen.
So it's all betting on thatperson being able to fulfill
what they're saying and to speakto what you were saying, it's
having a track record and you'relooking at track record.
It's not how great you can sellyourself on the Internet, right
, it's.
Do you have a track record ofsuccess, track record in the
industry?
You know and know exactly whatyou're doing, or are you just
(24:23):
great on YouTube?
And typically, if you're greaton YouTube, that's what you've
been working on.
It's being great on YouTube,not being great at uh properties
.
Kurt Buchert (24:30):
Yeah.
You might just like you know,seeing yourself on video, which
you know, ironically we'rehaving a zoom chat right now.
But I mean you get what I'msaying and then I guess, so get
what I'm saying.
And then also, like there'ssomething to be said for you
know, I'm invested in a fewdeals with a guy out of San
Antonio and he just buys in SanAntonio and whatever you think
about San Antonio's market Imean it's Texas but he's a local
(24:52):
San Antonio guy, born andraised there, and he does all
his deals there.
So he knows that market betterthan anybody else.
He knows every subcontractor,he knows if something goes wrong
, he knows exactly who to callto fix it in that market,
whereas if you got a guy thatlives in Dallas and investing in
Atlanta, they might not havethose connections there.
(25:14):
That's not to say that it mightnot be a good deal and it might
not work out well.
It might be a great deal, butit's going to be a little bit
harder for that person in Dallasto run that deal in Atlanta or
wherever.
Tony Johnson (25:35):
It's a much heavier lift when you know if
it's, let's say, a market that'sin good shape, then typically
those trades or the people, thegood subcontractors they're tied
up with the people that theyalready have relationships with.
So you're getting the bottom ofthe barrel, calling whoever you
can get stuff done, and nor isit crappy work done, or people
aren't finishing things oryou're getting ripped off.
(25:57):
Those are the type of thingsthat you run in when you're just
going to these random areas.
Even though the area might bethriving, you don't have
relationships that take years tobuild in those markets.
Kurt Buchert (26:09):
Exactly.
I mean, that's what was greatwhen I was living in New Orleans
.
I could, you know, somethinghappened.
I could get in my truck and beat the property in five minutes
and figure it out.
I mean that, you know, I canstill get in my car and be there
in four and a half hours, butit's, you know, a different
business now for me.
I, you know, have to rely onthe, you know, my subs and the
handyman and the people thatI've built a relationship with
(26:31):
over time.
But it's, it's nice to get yourface out there and see these
people face to face and and getyour eyes on property too every
once in a while.
Tony Johnson (26:39):
Yeah, and I think it speaks volumes when we're
talking about what you've doneand this is you're a testament
to this is a marathon process.
Real estate investing thisisn't.
You don't just get into realestate for two years and all of
a sudden you'd raise all thismoney, become, get this massive
balance sheet, and if you'redoing all this in two years and
(27:00):
it's kind of, to a certainextent, irresponsible, we're
taking people's money.
You've just been in this fortwo years and you don't know
enough.
You haven't been in this longenough to be responsible to take
these people's money.
In my opinion, I think it'sgood Take your time, use your
own money, experience it yourown way.
Slowly start to bring ininvestors once you have a track
(27:20):
record that you can prove andshow them that you've done it
with your own money, your ownskin in the game.
Kurt Buchert (27:25):
Right, yeah, exactly, now that's.
That's huge.
That is huge.
I've, I've, I've done someprivate, I've borrowed from
private lenders before on mydeals and I love doing that
because it's just kind of likeyou're just dealing with one
person and then I've, you know,I've never, never, not paid
anyone back ever, like thatwould kill me if I never, if I
missed the payment, or whereverI would go eat dog food before I
(27:49):
did that.
But yeah, there are some guysout there that you know I've
experienced it Like they're theydid not do what they said and
they, you know, stiffed theirinvestors and you know, see them
on, see them on social media,still going on vacations and
doing their thing, and I'm likeman, how could you do that?
(28:11):
Like, if I owed somebody money,you know I would not be going
on vacation.
I would be out there getting itdone and getting these people
paid somehow, or getting sometype of payment plan or
promising them that I'm going topay them back eventually, no
matter what.
So you kind of learn who arethe people out there that live
(28:31):
up to their word and all thatkind of stuff.
Tony Johnson (28:33):
Yeah, so definitely you know to speak to
your point on that too you knowthese.
Whenever you're investing,passing a deal, this is all you
know money that is just setaside, that you are willing to
lose a hundred percent of thismoney.
You don't ever want to investanything in these deals that you
can't.
And I know people say realestate's not going to go down to
zero.
Yeah, it cannot go.
Real estate doesn't have to godown to zero for you to lose all
(28:54):
your money.
Kurt Buchert (29:01):
Right, you can lose, right.
So that's yeah, that's a hugething that people have to learn.
Just, it's not like theproperty value is going down to
zero.
The property, like the debt,could change and you could get
zeroed out like you could, youknow, lose 20 of the runners and
you could get zeroed out.
It's not like the propertyvalue is going from 10 million
to zero.
You can get zeroed out in a lotof ways.
So that is something to be veryconcerned about.
(29:25):
If I go buy a house in cash for$100,000, yeah, I'm probably
not going to get zeroed outunless I get sued or something
and just some crazy thing orwhatever.
But burn down without insuranceor something like that but
thing or whatever.
But, um, you know, burned downwithout insurance or something
like that, but you still havethe land value but, in some of
these passive deals you can getzeroed out, man.
(29:46):
Like it happens, it's happenedto me, so I know it can happen.
Tony Johnson (29:50):
So, yeah, absolutely Be cautious.
Well, let's dive into a littleof the other things you do,
cause you've got a lot ofextracurricular stuff.
You do a lot of pickleball,you're uh running, you're doing
a lot of uh stuff like that.
So how did you get into therunning and the pickleball and
and is uh, you know what are youdoing with that coming up this
year?
Kurt Buchert (30:10):
yeah, so.
So running wise, um, I actuallydon't even like to run that
much, but I I've kind of justmade it one of those things
where, like I'll sign up for arace and then just kind of that
makes me train for it, whether Ilike it or not.
So you know, last year I didthe leadville marathon in
leadville, colorado, which onewhich is probably the toughest
(30:30):
marathon in the country becauseit's just the altitude you're
running, between 10 000 and13,000 feet entire time.
Um, and then last year it wasJune 17th and it was a blizzard.
So the entire race was ablizzard and like my hands were
like freezing the whole time.
So, like a lot of the times Ihad to, I had to literally run
(30:52):
with my hands in my mouth, likewarming up my hands, cause I, I
just I don't own hand likejogging gloves, so I don't even
like I didn't think about that,um.
So, yeah, I finished that.
I was very proud of doing that.
And then, um, and then twomonths ago, I did my first ultra
marathon, which was a 50k,which is a, you know, 30 mile
(31:15):
race.
That was my first ultra andthat was here in Florida.
Like, actually, it was actuallythrough the forest in my
backyard there's a, there's a 50K through there race.
I'm actually wearing the shirtright now and I don't know they
probably had 200 runners andthat was a really cool race.
That was really tough.
But I actually don't even love.
(31:36):
I love it after the fact, likeI love like feeling the feeling
of accomplishment and doing it,and but I don't like love the
training routine of it.
Tony Johnson (31:46):
So how long did you train for the uh 50 K?
Kurt Buchert (31:50):
I did not train nearly enough, like it was super
hard, and I actually never ranmore than I think.
One day I did like a 12-milerun, what?
Yeah, it was kind of stupidLike I did not.
30 miles.
Yeah, I only ran like a 12-milebut I was kind of.
(32:11):
I still had some like inertiafrom my marathon last year and
then I had been playing you knowtwo hours of pickleball every
day year and then I had beenplaying you know two hours of
pickleball every day so I was ingood aerobic shape.
But you know, running 30 milesis a different deal.
So that was I was the last fewmiles.
Tony Johnson (32:27):
I was in bad shape now, pickleball is a fun game
I've only.
I mean I play in my drivewaywith my kids.
But I went to like a littlesaturday morning pickle pickup
game and there was a bunch ofold people and I was like, oh,
I'm going to work these oldpeople.
I mean, I got on the court andjust got destroyed.
The first game I didn't score apoint and they were like you
(32:49):
got pickled.
I was like what the hell doesthis mean?
Kurt Buchert (32:50):
Yeah, Some of these old people are good.
So yeah, I started playing last, like May, so almost a year now
.
You know, I grew up.
I grew up a tennis kid so I had,like that, that racket
background.
Yeah, um, my grandpa was atennis coach so, yeah, I just I
never even heard of it beforelike 2023.
So I started playing last mayand I just kind of got obsessed
(33:15):
with it.
So I play at least five days aweek.
You know when play it's atleast two hours a day.
Um, I played a lot oftournaments.
So you know, I started playingin tournaments a few months back
so got some gold medals undermy belt and, you know, played a
couple of tournaments wherethere were some awesome people
and got my butt kicked.
(33:35):
But you know, I'm gettingbetter and I love it.
I just really like it.
It's a lot of fun.
I prefer doubles, but I likesingles too.
So, yeah, I just really likeplaying and this whole social
aspect too.
I've met a lot of friendsthrough it.
We call each other pickleballdegenerates and we like my crew
of people, we like to play a lotand play each other and things
(33:57):
like that.
So it's fun.
Tony Johnson (34:05):
That's crew of people we like to play a lot and
play each other and things likethat, so it's fun.
It's amazing.
Yeah, I mean it is such anaddictive, fun sport you you
wouldn't believe I go playingtennis.
It is just like the goofiestgame on the planet.
But it's extremely addictive towhere, like yeah, it's
literally within like 15 minutes, you're like, oh, this is the
funnest thing I've ever done inmy life yeah it, it's fun.
Kurt Buchert (34:20):
And then, like, as you get more kind of advanced
into it you know, now I'm kindof getting into like the 4-5,
playing against some 4-5-5-0s.
I think I'm like I'd say maybeI'm a 4-5 or right below that it
becomes like a chess match,like there's just like a lot of
strategy that goes into it.
You know, a lot of ballplacement, like where, why am I
(34:43):
going to put, why am I going tohit this ball this way to this
person versus that way A lot ofchess going into it when you get
into the more advanced parts ofit, which is really cool as
well.
So it's not only a physicalsport, it can be a mental sport
as well.
Tony Johnson (34:59):
Oh man, that's amazing.
I love it All right.
One other quick thing I wantedto touch on, so it kind of goes
along with what I do.
So you know we had talked a bit, your wife had been, you know,
teaching Pilates and lovedPilates, and you guys opened a
Pilates studio in Florida andit's done so well you're opening
(35:22):
another one.
Could you kind of talk usthrough that journey and how
that's gone for your family?
Kurt Buchert (35:28):
Yeah, so my wife has background in fitness.
She's always been big intofitness and she worked at.
She worked at a.
She was a pure bar instructorfor seven years back in New
Orleans and then her sister,who's 15 years younger than her,
worked at Orange Theory for abunch of years.
I wanted to move out here toFlorida to be closer to us and
(35:51):
just kind of wanted to move outof Utah and move to Florida.
So I was like, well, y'all needto do a fitness studio.
And my wife really didn't wantto do it because she, my wife,
she wanted to be a stay at homemom.
So I was doing that, Yada, yada.
But she decided like, yeah,that's a good idea.
So they, they started talking,they came up with an idea and,
(36:15):
yeah, we just ran with it.
They found a place, theystarted the business, we built
it out and it's been goingreally really well.
They worked really really hard.
They're a great team, it's agreat studio, They've built a
great community and they've justkind of been a victim of their
own success.
I mean, their classes arebooked all the time, They've
added a bunch of classes andthey're just doing so well.
(36:37):
That was like y'all need to do asecond one.
And then my wife didn't evenwant to do that so but now that
we like the second ones on thedrawing board, my wife's talking
like I want a third one now.
So that's kind of funny.
That's amazing.
I think she's really gettinginto it and she really enjoys it
(36:58):
.
She might not tell you she does, but I think she really does.
She finds a big sense ofaccomplishment over it.
But it's been great becausereal estate's kind of been.
The margins for my businesshave tightened a lot in the last
year and a half with insurance,property taxes and the rental
softening.
So it's been.
It's actually been a godsendfor us, for our family and
everything.
Tony Johnson (37:16):
So it's been nice, yeah, and and really the.
The biggest boom we're seeingin, you know, the commercial
space, as far as what I'm seeingis the wellness and the fitness
side of the retail sides ofbusiness.
So that's where all the growthis.
That's where all the growth is.
That's where everyone you know,ever since COVID, when people
were kind of stuck in peoplelove that environment to be able
(37:40):
to go, have the camaraderie ofworking out together.
The class atmosphere of exerciseis really great, you know, and
keeps people motivated and keepsthem engaged and keeps them
going, Not like a general gymwhere you just come and go and
there's a lot of drop off.
You know that that class, justlike what you're saying with the
pickleball, you found thefriendship and you build the
(38:01):
friendship.
It's the same with the classenvironment for working out.
And so to your wife's testament.
Obviously she's taking whereshe's saying she wants a third
one.
She's taken, you know her, fromteaching the bar to now
understanding how running abusiness, obviously turning that
and thriving in business,because she's probably not near
teaching, near as much Can'tteach it all three of them,
(38:23):
right.
So she's gone from the teachingaspect to now thriving and
loving to run business.
Kurt Buchert (38:29):
Yeah, and she had never.
She had never run a businessbefore.
I mean she she had workedbefore.
She was in sales, so she wasgreat with people.
She's got an incrediblepersonality, so she's always
been incredible with people.
Um, so she has that skill set,but running a business she had
never done before.
But yeah, she's jumped right inand she's she's been great.
I thought I was gonna deal morewith like talking to the
(38:52):
contractors and all that type ofstuff, but she's doing almost
all that.
I just kind of butt in wheneverthey ask me.
Tony Johnson (39:00):
Oh awesome which is less and less often Right.
Yeah, that's amazing.
Yeah, you know, I think thatthe studio atmosphere of fitness
I feel like it has really itstill has a long roadway of
going up.
So I think there's a lot ofopportunity.
I think you guys are right in agreat niche right now and have
a lot of opportunity.
(39:21):
So, you know, keep us informedand let us know if that turns
into a franchise model as yougrow and maybe you compete with
your bar down the road.
Kurt Buchert (39:29):
Yeah, we'll see.
You never know.
I mean, I don't know if we wantto.
You know, we're huge on havingour lifestyle rather than rather
than like working a hundredhours a week.
So I don't know if that's thefuture, but you never know.
So we'll see.
Tony Johnson (39:44):
Well, awesome, well, thank you so much for
joining us, man, it's been apleasure talking to you and
getting to know you a bit andfind out about your family life,
and I just sincerely appreciateyou taking the time to sit and
chat with us.
Kurt Buchert (39:56):
Yeah, tony, it was great man Appreciate it.
Tony Johnson (39:59):
Thanks so much, man.
Hopefully we'll get you onanother time later down the road
.
Sir.
Thanks, so much, sounds good.
Thank you, have a great day.
Welcome to another episode of Carolina Commercial
Real Estate Connection.
Today we have Kurt Bichart withus.
Kurt is out of Florida, grew upin New Orleans, louisiana has
been in the real estate industryfor over 10 years, buying,
holding and renting outproperties in mainly the New
(00:22):
Orleans area.
Kurt, thanks so much forjoining us.
Kurt Buchert (00:25):
Yeah no problem.
Tony, Glad to be here.
Tony Johnson (00:28):
Yes, sir.
So Kurt is a very funny guy onsocial media, which is what drew
me to Kurt originally.
He's always got great comments,so he's been a great person for
me to follow on social mediaand get to know.
He's in a group, gobundance.
I'm in and I'm happy to havehim on on the show today.
Um, one thing, uh, kurt, I Ireally just wanted to bring up,
(00:52):
just because it's awesome to me.
I'm a family guy.
Um, we both have, uh, fourchildren and, um, you know, a
boy and three girls.
We both share that.
What has been the biggestchallenge for you about
parenting, or the biggestadjustment that you're making,
(01:13):
or the biggest joy you have withit?
Kurt Buchert (01:16):
I think one of the challenges of parenting is to
know when to be, you know, thedisciplinarian versus, you know
letting your kids kind of roamand discover them, discover
things themselves and make theirown mistakes.
And that is always a fine lineto walk down because you don't
want to be that guy where yourkids look back and you know dad
(01:40):
never let us do anything and hesuper strict and we were scared
of him and all that kind ofstuff.
But you also don't want I alsodon't want to be one of those
like wimpy dads where I'm likeyou know we're crying with them
every day over somethingridiculous and make them too
sensitive because you need to bea little bit tough in this
(02:03):
world.
So that's kind of a fine lineto walk.
I feel like with children I'mlearning my ways there.
Tony Johnson (02:10):
Yeah, I love that.
Yeah, you know, that's one ofthe big things with me.
Is I really, as my kids are nowgetting older, one of the
biggest, I would say, thingsthat I pushed my kids as they
were younger and now gettingolder, I don't know that was the
smartest things.
I pushed my kids as they wereyounger and now getting older, I
don't know that was thesmartest things.
I pushed my kids and forcedthem like you have to play a
sport, you have to play a sport,you have to play something, you
(02:32):
have to do something.
You're not just going to sitaround, you know, do nothing.
And so my oldest son, the 16th,he's like I hate soccer because
you forced me to do soccer forso long.
Well, I wanted you to dosomething.
You know, do you have your kidsplay sports or activities that
you bring them into or let themmake their own choices?
How do you do that?
Kurt Buchert (02:50):
Yeah, so that's a.
That's a.
That's a great story rightthere, because my, my son's nine
and about a year and a half ago, from age seven and a half
under you know, I'd occasionallyask him like hey, you want,
want to go throw football or dosomething with football or
whatever, and he never had anydesire, he never wanted to.
Like I like LSU football andsometimes I watch, used to watch
(03:12):
the Saints, and you know I usedto ask him if he wanted to
watch it with me.
He never had any desire, likezero desire, like adamantly did
not want to do anything withfootball and then about a year
and a half ago, I think, hestarted playing football at his
school with his friends duringrecess and in the last like year
or so the kid has gotten likecompletely obsessed with
(03:35):
football.
Like he knows every singleplayer in the NFL.
He knows where they went tocollege, their position, he
knows everything.
He knows like Super Bowlhistory, like he watches like
random games on YouTube fromlike years ago, like all these
highlights, and he wants to playit all the time.
He wants to go throw it in thethrow it in the street in front
(03:56):
of our house all the time.
And I never pushed him ever,just kind of like casually asked
him a few times when he wasyoung and I was like okay, I
guess he's not interested inthat.
So that was kind of like anepiphany, like okay, well, you
don't have to pressure thesekids, they're going to figure it
out on their own.
But I will say like I like tointroduce them to things.
Like you know, we live inFlorida, so, like you know, I've
(04:16):
given them tennis lessons.
I go out there and I lovepickleball.
So we, you, we, you know Ibring them out there to hit pick
a ball with me and you know Iusually make a bet with them.
Like, hey, if you can hit it,if we hit it a hundred times
over the net in inbounds in arow, you know I'll go buy ice
cream or something like that.
So I kind of like incorporatethings like that, but I don't
(04:37):
like put pressure on my kids anyof that stuff.
I don't think that's a goodidea.
Tony Johnson (04:43):
Yeah, I don't think that's a good idea.
Yeah, I would say for myexperience it was not a good
idea.
They more rebel when you'repushing, pushing, pushing and so
obviously with my younger kidsnow.
So the first kid is always thelearning curve they have like
the worst.
I'll bring it if you're theoldest kid in the family because
it's like you're the learningcurve for the parents, the first
kid going through figuring outwhen you do everything wrong
(05:05):
with the first kid, then for therest of the kids you do much
better.
Kurt Buchert (05:08):
Yeah, I try to look at it mathematically the
chances of my kids, or most ofour kids, but especially my kids
of being professional athletes.
It's so low that for me itwould just be kind of idiotic to
like put pressure on them to dosomething like that.
(05:28):
And then you know, like most ofus, I want our kids to, I want
my kids to be involved in sport,just because you know being
healthy being around teams, youknow the social interaction of
it is great.
So I think all those things areimportant, yeah getting out of
the house like not sittingaround playing video games and
(05:49):
watching tv that's exactly mypremise.
Tony Johnson (05:52):
I just want the kids out doing something, right?
My, yeah, it's.
It's hard.
These days the kids get suckedin on electronics and you know
it's.
It's so bad for their brain andmind just to sit there on the
electronics yeah, I mean, that'sone thing I'm a stickler about.
Kurt Buchert (06:07):
I will literally throw my kids out.
You know it's so bad for theirbrain and mind just to sit there
on the electronics.
Yeah, I mean, that's one thingI'm a stickler about.
I will literally throw my kidsout of the house and lock the
door.
So I will literally say gooutside, leave, do not come back
.
I mean I've had it where, likemy son knocks on the door like
Daddy, I gotta go to thebathroom, and I say, no, go in
in the forest, because we have aforest behind our backyard and
you just go in the forest likehe doesn't need.
(06:29):
He doesn't need to come insideto go to the bathroom that's
amazing, my daughter, mydaughter's, I probably let them
in.
Tony Johnson (06:37):
Yeah, that's awesome, all right.
So uh, let's dive in a littlebit.
Uh, go back in time and I knowit's 10 plus years, but I think
you said you had one, was yourfirst property purchased.
You said 21 years ago.
How long ago was the first?
Kurt Buchert (06:50):
Yeah, 2003 was my first purchase.
I was 25, 26 years old.
I bought a duplex and that wasmy first real estate investment.
Everybody told me not to do itbecause it was kind of a little
sketchy neighborhood.
It was a gentrifyingneighborhood but it was a little
sketchy.
Caught a guy doing crack in thebackyard the first night.
I stayed there and I thought hewas stealing my car.
(07:13):
I pulled a gun on him and thatwas my first night of real
estate investing.
Was I pulled a gun on somebody?
Tony Johnson (07:21):
So that was fun and that was a duplex, you said
and actually I still.
Kurt Buchert (07:27):
I still own that property to this day so it's you
know, I've had it rented for 21years and it's it's been great,
a great investment property sodid you have at that age?
Tony Johnson (07:39):
I mean, did you just have your buddies move in
and pay you rent and or how was?
How were you laying that out?
Kurt Buchert (07:45):
So I rented out one unit to a couple a young
couple and then I lived in the.
There was there were both twobedroom units and then I lived
on the other side by myself andthen I used the spare bedroom as
my office.
Looking back, I probably shouldhave like, yeah, I probably
should have had a buddy of minemove into one of my, to my spare
bedroom, and then I would haveliterally made money owning real
(08:05):
estate.
But like you know, the other,the other couple, the other unit
paid my mortgage and a littlebit more, um, so I was just out
of pocket like insurance andtaxes and stuff.
So I was like cool, like I waslike like I'm a man, I'm, I'm
like living for free, basically,and, um, I need to do this
again.
So I just started doing itagain and again, and again, and
again.
Tony Johnson (08:26):
So you kind of walk me through again and again
and again how, what was thetimeline?
How did you kind of build up?
Did it start to snowball at acertain point?
Kurt Buchert (08:36):
Yeah, I mean I was a financial advisor out of
college and I read a lot ofbooks on, you know, investing
and real estate investing,things like that.
So I knew kind of like thebasics of it, but I just didn't
really have any capital oraccess to capital.
So the you know, the firstproperty you know I kind of had
(08:56):
to like beg, borrow, steal toget that property out of my belt
.
And then there was anotherhouse that went for sale like
down the block, I don't know twoyears later, and I just didn't
have the money for it.
But I had one of my bestfriends had some money, he was a
really frugal guy.
So we went in together we did arenovation and then we rented
it out.
It was another duplex and itworked out well.
(09:19):
And then and then he I don'tthink he was that comfortable
with doing that stuff back thenand like he was more of a
corporate guy, so I don't knowwe kept that for maybe four or
five years and then we sold it.
But I was buying otherproperties after that.
But what was funny is yearslater then he kind of changed
(09:42):
his tune and then we startedbuying a lot of stuff together.
So you know, you have to.
I kind of learned a lesson withpartners you have to have
people that are like willing andable to kind of get dirty and
have that entrepreneurial spirit, because if you know you're
doing this with like kind ofcorporate people they're they're
not going to feel thatcomfortable doing real estate,
because real estate you got tokind of get dirty, sometimes A
(10:03):
lot of times.
Tony Johnson (10:05):
Yeah, a lot of times.
I agree with that.
So this, this gentleman thatyou've and you've continued to
partner, do you?
Are you still in?
Kurt Buchert (10:14):
business yeah, we.
Tony Johnson (10:20):
How do you guys match up with each other?
Do you ever do any?
I'm very big into likecognitive surveys and
understanding people's strengthsand weaknesses, and you know as
far as partnerships go to makesure you jive.
Do you have differentattributes that one of you
thrives at and the other one youknow can use to help with?
Kurt Buchert (10:40):
So typically, I mean when I was actually living
in New Orleans at the time so Iwas always like the on the
ground guy and, you know, kindof the get dirty guy, and I was
a little bit more aggressive, alittle bit more of a loose
cannon and then he was kind ofthe guy doing a lot of the back
office stuff because he actuallylived in Texas.
He lives in Texas and he wasdoing a lot of the the back
(11:01):
office stuff.
He was a licensed real estateagent so he would do the buying
and selling, he would find allthe deals and he was like
awesome at that and finding thedeals and then I would handle
all the renovations.
Like you know, I was basicallysubcontracting everything out
myself and I would manage thetenants and deal with the leases
(11:21):
and show the apartments and allthat kind of stuff.
You know, now that I've movedto Florida and we're not really
doing many projects anymore, wehired like a leasing agent that
does our leasing in New Orleansand then I still manage the
properties and then he manageslike buying and selling stuff
(11:42):
being an agent, and then he kindof does more of the numbers and
spreadsheets and all that kindof stuff and I'm comfortable
with spreadsheets and all thattype of stuff.
That's just not like you know.
That doesn't like fill my cup.
Really.
I don't like love sitting thereand staring at spreadsheets.
I can, I mean, I have theability to.
It's not like it's Greek to me,but I just don't love doing it.
He's a little bit moreanalytical like that.
Tony Johnson (12:10):
Yeah, just what you're telling me is, yeah, you
can.
Those are the differentattributes that would somebody
be strengthening and, you know,gives you joy and fits exactly
what you do, so you thrive at ittoo.
Yeah, you can do thespreadsheets, but it it drains
drains all your energy, youdon't get energy from it.
It's kind of like, yeah, itdrains, drains all your energy,
you don't get energy from it.
Kurt Buchert (12:25):
It's kind of like, oh, who wants to do all this,
right, yeah, yeah, I mean I, youknow 46 now and like, yeah,
that's definitely somethingyou'll learn.
If you don't like doing it,you're not going to be good at
it and it's it's not going to gowell, like you need to kind of
enjoy doing it.
Tony Johnson (12:40):
What you're doing does not give you energy and
give you the motivation anddrive to continue doing it and
make you happy, then you're notdoing the right thing for
yourself so and you probablyaren't thriving and you'd be
better better off doingsomething else that gives you
that energy, right exactly?
Kurt Buchert (12:54):
like I like, I like this stuff.
He would.
He would hate it, he wouldnever go on a podcast, he would
just never do it in years so sowalk me, because you got in
early, so we're right around thesame age.
Tony Johnson (13:05):
So I was also kind of going and starting things up
around 2006, 2007.
And there was so much happeningand it sounds like you'd gotten
in before.
That was on the tail end of thedot-com bust, right when you're
coming in.
And then you've got thisbuild-up what, how was your
(13:26):
impact?
And how did, how did you guyshandle the rise up and then the
crash?
What?
What was your positioningduring that?
Kurt Buchert (13:36):
so luckily or unlike you know, actually
luckily we um, in summer of youknow, august 2005, new or
Orleans got hit by Katrina, sonationwide that was actually
when real estate was stillrising a lot till 2007.
So we got hit by Katrina, whichobviously was a catastrophic
(13:57):
event.
So we never saw that like hugebubble, like a lot of the rest
of the country got, because wehad got hit by Katrina a few
years before.
So when the bubble, the realestate bubble, burst in 2008,
that affected us a little bit,but not really much.
It actually was great for ourbusiness because people just
didn't want to have anything todo with real estate.
(14:18):
So we were able to buy a lot ofproperties for really cheap
prices.
There's a funny story there wasa property listed for $10,000.
And there were so many dealsout there that we just had a
joke, my business partner and I.
We had a joke between us like,hey, let's try to buy a property
(14:39):
for $1,000.
So we offered $1,000 for thisproperty and it was.
You know, it had flooded atKatrina, had a lot of damage,
but it had a structure to it.
It'd be, you know, it couldhave renovated and everything.
So we made the offer for athousand.
They countered at $2,500 and wesaid no, and we didn't buy it.
(15:00):
So we wouldn't buy it for$2,500.
And I think, like I don't know,three years after that it's in
the same condition.
It sold for like $90,000.
Tony Johnson (15:12):
That's how like, that's how much people just did
not.
Kurt Buchert (15:15):
they had so much inventory in new Orleans of like
flooded, messed up propertiesand that's how much people did
not want to deal with realestate back then that we could
have got a property for $2,500.
And we said no.
Tony Johnson (15:29):
That is amazing.
Yeah, I can completely rememberhow, now that you've gone and
reminded me of that, you know,just looking at all the X's on
all the houses that were justlike, yep, this one's fucked,
this one's fucked, you know,this is just a mess.
So, yeah, there was probably anabundance and then it's just,
you know, the mentality is to,oh my gosh, stay away, this is
(15:50):
going to be a disaster forever.
To where you guys are like,okay, now let's go figure out
what we can do to get this stuffas cheap as possible and go
dive in, which is still.
You know, there's still there.
Still there's some hesitancythere, right, and it's like also
, how much available capital youhave.
You could, obviously, if you'vegot enough capital, you go buy
up.
It was like what can you really?
How much can you afford, right?
Yeah, so we, basically we had ahybrid strategy.
Kurt Buchert (16:12):
There were some properties we were buying,
renovating and then just holdingas long-term rental property
for the cashflow because thatwas kind of important to us.
But you know you needed capital.
So there's a lot of propertieswe would just sell and we did a
lot of like the whole tailingwhere we would buy from a
wholesaler and then we wouldsell it on the MLS and there was
(16:41):
an arbitrage there and a lot oftimes it was some big, was some
big time arbitrage.
And there's early days, causethat was kind of the earlier
days of wholesaling wholesalers,I don't think a lot of times
they knew what the propertieswere worth.
So we made, we had some reallygood deals on that, on that
strategy.
Nowadays, like a lot of thesewholesalers, I don't even think
the deals are that good, to behonest with you.
Tony Johnson (17:00):
Yeah, these wholesalers service they call me
.
I'm like I wouldn't.
This isn't even a deal.
Yeah, why are you even bringingthis to me?
Kurt Buchert (17:10):
yeah, I mean we haven't bought anything in a
while, just you know in years,just because of that.
I mean we just don't really seethe deals out there anymore.
Tony Johnson (17:17):
So yeah, that's why there's a disconnect, I feel
like, with the youngerinvestors that are coming in, to
the people that have beenthrough this for a while.
When you see the market and itgoes up and comes down and then
the younger generations come in,they just have seen up, up, up,
because it's been just steadilyrising now for, I mean,
(17:39):
unprecedented amount of time,almost 14 years.
So what do you feel likethere's going to be some type of
some event that could come upthat could cause a major dip in
the market, whether it'smultifamily, residential,
commercial.
Yeah, I mean, we're seeing italready multifamily.
Kurt Buchert (18:00):
You know a lot of the.
Since the rates have gone up, alot of these deals that were
marginal deals are kind of blownup.
So there are.
There is some stress in themultifamily Since the rates have
gone up.
A lot of these deals that weremarginal deals are kind of blown
up.
So there is some stress in themultifamily world out there,
especially a lot of thesesyndication deals.
Residential man, I don't know.
I mean here where I live now wehad such a huge run up from
(18:22):
2020 to 2023 that we're nowseeing probably 15 percent
correction from the high whichwas probably late 2022, early
2023.
We've seen probably a 10 to 15percent correction from that.
But I don't know if residentialis going to get hit that hard
(18:45):
because there's so many peoplewith low interest rate loans and
they're probably not going tosell, so there's not going to be
like an oversupply of inventory.
But commercial is probably adifferent story.
I mean we've seen it in officeand multifamily They've gotten
hit pretty hard.
So there'll probably be somedeals there in the next six
months to a year.
Tony Johnson (19:05):
Yeah, and the thing is when you say that with
multifamily, you're seeing the,the amount of new product coming
online is also unprecedented.
I hire a lot of these.
You know we haven't seen theamount of inventory coming
online since the eighties.
So with the excess newinventory coming on, some of
(19:27):
this older product that seems tobe at a deal pricing right now.
I don't even know if it's adeal, because when you have the
new inventory coming on and thenthey're having to give specials
and cut their rates, people areway more amped to rent a new
pro or to rent a new productthan these older ones.
I don't care how you renovatethem, it'd be?
Kurt Buchert (19:49):
yeah, totally.
I mean a new product is goingto be much more attractive.
But you know some of these newplaces like there's some places
around here that have gone up inthe last few years that are
like like where my in-laws live,I'm like man, I would live
there, like that's nice.
They have like an awesome gym,like their pool is like country
club type pool, yeah, hot tub, Imean just really nice place to
(20:12):
live and porches and everything.
And you know some of these.
Yeah, some of these datedproperties in the 70s and 80s
with, you know, eight footceilings and a little bit more
depressing.
Yeah, I don't know how they'regoing to do, but I mean, I think
a lot of it goes back tolocation.
You know, if you're in a, youknow if I invest in a passive
(20:34):
deal, you know I'm looking fordemographic tailwinds.
You know a place people want tomove to and then in that area,
is it a good neighborhood that'speople always want to live in,
rather than a marginalneighborhood, because we've seen
that last few years too.
Like you know, some of these,some of these cities, in most
(20:56):
cities in the country just seena big crime increase.
So some of these areas thatwere gentrifying before 2020
have kind of turned the otherway and have gotten pretty bad.
I mean, we saw it.
We've seen it in New Orleans.
Tony Johnson (21:09):
So walk me through .
So just so people who arelooking and thinking about you
know, investing passively insomeone's deal.
I know you kind of touched on ahigh level.
What all do you look for ininvesting in someone and what
they're offering?
Kurt Buchert (21:29):
Yeah, I mean, my first bit of advice would be to
be extremely picky.
So, you know, I would just sayno.
Just your default status shouldbe no, I'm not investing in
this, and then work your way upfrom there.
So if your default status is no, then you know.
You know, if it's a greatoperator, they've been doing it
(21:52):
for a long time.
They have an awesome, you know,rate of success.
You know, maybe you talk to someof their investors, maybe you
get to see how their portalworks, cause, like some of these
guys, just not great with thetechnology.
So you want to make sure theirportal works well and it's
updated all the time.
You know, you want to make surethey you know they have a
(22:13):
history of paying their, theirpreferred return.
You know whether they pay thatmonthly or quarterly or whatever
.
You know, some of these guys dothese deals and they just they
pay for a couple of months andthey just don't pay for two
years and whatever, you knowsomething.
Something came up.
So, yeah, you just, I mean, youknow, and a lot of times you're
betting on the jockey, not thehorse.
So you know, you want to makesure that the operator you're
(22:37):
with, first of all.
They know how to operate a deal, they know how to run real
estate, they know how to managea property, because there's a
lot of guys on the internet thatare very good at selling the
sizzles and they're justprobably not great operators.
If they have the skillset to beall over social media selling
(22:57):
know, selling these, sellingthese deals, they're probably
not going to have the skillsetto manage a property.
So they either they either needto be partnered with somebody
who's a great operator, or theyneed to be like that unicorn
that can also operate a property, which is which is rare, cause
I mean operating a propertythat's tough work.
Nobody's going to be there withyou.
(23:19):
You, you high-fiving you whenyou have to evict somebody, or
somebody's squatting orsomebody's not paying rent or
you got to deal with somebody'sdog crapping all over the
property.
I mean just stuff like that.
You need somebody in therethat's hardcore and can get
after and run a tight ship.
Tony Johnson (23:37):
Yeah, that's critical and I would 100 is and
I would a hundred percent agreewith that.
It's.
It's almost more the operatorand the team that's handling the
deal, then the deals.
Those people are the ones thatthey either can make or break
the deal.
So everybody's got, you know, arosy picture of what can happen
, but you know, when rubbermeets the road, who's going to
(23:57):
actually implement that plan andbring it to fruition and make
it happen.
So it's all betting on thatperson being able to fulfill
what they're saying and to speakto what you were saying, it's
having a track record and you'relooking at track record.
It's not how great you can sellyourself on the Internet, right
, it's.
Do you have a track record ofsuccess, track record in the
industry?
You know and know exactly whatyou're doing, or are you just
(24:23):
great on YouTube?
And typically, if you're greaton YouTube, that's what you've
been working on.
It's being great on YouTube,not being great at uh properties
.
Kurt Buchert (24:30):
Yeah.
You might just like you know,seeing yourself on video, which
you know, ironically we'rehaving a zoom chat right now.
But I mean you get what I'msaying and then I guess, so get
what I'm saying.
And then also, like there'ssomething to be said for you
know, I'm invested in a fewdeals with a guy out of San
Antonio and he just buys in SanAntonio and whatever you think
about San Antonio's market Imean it's Texas but he's a local
(24:52):
San Antonio guy, born andraised there, and he does all
his deals there.
So he knows that market betterthan anybody else.
He knows every subcontractor,he knows if something goes wrong
, he knows exactly who to callto fix it in that market,
whereas if you got a guy thatlives in Dallas and investing in
Atlanta, they might not havethose connections there.
(25:14):
That's not to say that it mightnot be a good deal and it might
not work out well.
It might be a great deal, butit's going to be a little bit
harder for that person in Dallasto run that deal in Atlanta or
wherever.
Tony Johnson (25:35):
It's a much heavier lift when you know if
it's, let's say, a market that'sin good shape, then typically
those trades or the people, thegood subcontractors they're tied
up with the people that theyalready have relationships with.
So you're getting the bottom ofthe barrel, calling whoever you
can get stuff done, and nor isit crappy work done, or people
aren't finishing things oryou're getting ripped off.
(25:57):
Those are the type of thingsthat you run in when you're just
going to these random areas.
Even though the area might bethriving, you don't have
relationships that take years tobuild in those markets.
Kurt Buchert (26:09):
Exactly.
I mean, that's what was greatwhen I was living in New Orleans
.
I could, you know, somethinghappened.
I could get in my truck and beat the property in five minutes
and figure it out.
I mean that, you know, I canstill get in my car and be there
in four and a half hours, butit's, you know, a different
business now for me.
I, you know, have to rely onthe, you know, my subs and the
handyman and the people thatI've built a relationship with
(26:31):
over time.
But it's, it's nice to get yourface out there and see these
people face to face and and getyour eyes on property too every
once in a while.
Tony Johnson (26:39):
Yeah, and I think it speaks volumes when we're
talking about what you've doneand this is you're a testament
to this is a marathon process.
Real estate investing thisisn't.
You don't just get into realestate for two years and all of
a sudden you'd raise all thismoney, become, get this massive
balance sheet, and if you'redoing all this in two years and
(27:00):
it's kind of, to a certainextent, irresponsible, we're
taking people's money.
You've just been in this fortwo years and you don't know
enough.
You haven't been in this longenough to be responsible to take
these people's money.
In my opinion, I think it'sgood Take your time, use your
own money, experience it yourown way.
Slowly start to bring ininvestors once you have a track
(27:20):
record that you can prove andshow them that you've done it
with your own money, your ownskin in the game.
Kurt Buchert (27:25):
Right, yeah, exactly, now that's.
That's huge.
That is huge.
I've, I've, I've done someprivate, I've borrowed from
private lenders before on mydeals and I love doing that
because it's just kind of likeyou're just dealing with one
person and then I've, you know,I've never, never, not paid
anyone back ever, like thatwould kill me if I never, if I
missed the payment, or whereverI would go eat dog food before I
(27:49):
did that.
But yeah, there are some guysout there that you know I've
experienced it Like they're theydid not do what they said and
they, you know, stiffed theirinvestors and you know, see them
on, see them on social media,still going on vacations and
doing their thing, and I'm likeman, how could you do that?
(28:11):
Like, if I owed somebody money,you know I would not be going
on vacation.
I would be out there getting itdone and getting these people
paid somehow, or getting sometype of payment plan or
promising them that I'm going topay them back eventually, no
matter what.
So you kind of learn who arethe people out there that live
(28:31):
up to their word and all thatkind of stuff.
Tony Johnson (28:33):
Yeah, so definitely you know to speak to
your point on that too you knowthese.
Whenever you're investing,passing a deal, this is all you
know money that is just setaside, that you are willing to
lose a hundred percent of thismoney.
You don't ever want to investanything in these deals that you
can't.
And I know people say realestate's not going to go down to
zero.
Yeah, it cannot go.
Real estate doesn't have to godown to zero for you to lose all
(28:54):
your money.
Kurt Buchert (29:01):
Right, you can lose, right.
So that's yeah, that's a hugething that people have to learn.
Just, it's not like theproperty value is going down to
zero.
The property, like the debt,could change and you could get
zeroed out like you could, youknow, lose 20 of the runners and
you could get zeroed out.
It's not like the propertyvalue is going from 10 million
to zero.
You can get zeroed out in a lotof ways.
So that is something to be veryconcerned about.
(29:25):
If I go buy a house in cash for$100,000, yeah, I'm probably
not going to get zeroed outunless I get sued or something
and just some crazy thing orwhatever.
But burn down without insuranceor something like that but
thing or whatever.
But, um, you know, burned downwithout insurance or something
like that, but you still havethe land value but, in some of
these passive deals you can getzeroed out, man.
(29:46):
Like it happens, it's happenedto me, so I know it can happen.
Tony Johnson (29:50):
So, yeah, absolutely Be cautious.
Well, let's dive into a littleof the other things you do,
cause you've got a lot ofextracurricular stuff.
You do a lot of pickleball,you're uh running, you're doing
a lot of uh stuff like that.
So how did you get into therunning and the pickleball and
and is uh, you know what are youdoing with that coming up this
year?
Kurt Buchert (30:10):
yeah, so.
So running wise, um, I actuallydon't even like to run that
much, but I I've kind of justmade it one of those things
where, like I'll sign up for arace and then just kind of that
makes me train for it, whether Ilike it or not.
So you know, last year I didthe leadville marathon in
leadville, colorado, which onewhich is probably the toughest
(30:30):
marathon in the country becauseit's just the altitude you're
running, between 10 000 and13,000 feet entire time.
Um, and then last year it wasJune 17th and it was a blizzard.
So the entire race was ablizzard and like my hands were
like freezing the whole time.
So, like a lot of the times Ihad to, I had to literally run
(30:52):
with my hands in my mouth, likewarming up my hands, cause I, I
just I don't own hand likejogging gloves, so I don't even
like I didn't think about that,um.
So, yeah, I finished that.
I was very proud of doing that.
And then, um, and then twomonths ago, I did my first ultra
marathon, which was a 50k,which is a, you know, 30 mile
(31:15):
race.
That was my first ultra andthat was here in Florida.
Like, actually, it was actuallythrough the forest in my
backyard there's a, there's a 50K through there race.
I'm actually wearing the shirtright now and I don't know they
probably had 200 runners andthat was a really cool race.
That was really tough.
But I actually don't even love.
(31:36):
I love it after the fact, likeI love like feeling the feeling
of accomplishment and doing it,and but I don't like love the
training routine of it.
Tony Johnson (31:46):
So how long did you train for the uh 50 K?
Kurt Buchert (31:50):
I did not train nearly enough, like it was super
hard, and I actually never ranmore than I think.
One day I did like a 12-milerun, what?
Yeah, it was kind of stupidLike I did not.
30 miles.
Yeah, I only ran like a 12-milebut I was kind of.
(32:11):
I still had some like inertiafrom my marathon last year and
then I had been playing you knowtwo hours of pickleball every
day year and then I had beenplaying you know two hours of
pickleball every day so I was ingood aerobic shape.
But you know, running 30 milesis a different deal.
So that was I was the last fewmiles.
Tony Johnson (32:27):
I was in bad shape now, pickleball is a fun game
I've only.
I mean I play in my drivewaywith my kids.
But I went to like a littlesaturday morning pickle pickup
game and there was a bunch ofold people and I was like, oh,
I'm going to work these oldpeople.
I mean, I got on the court andjust got destroyed.
The first game I didn't score apoint and they were like you
(32:49):
got pickled.
I was like what the hell doesthis mean?
Kurt Buchert (32:50):
Yeah, Some of these old people are good.
So yeah, I started playing last, like May, so almost a year now
.
You know, I grew up.
I grew up a tennis kid so I had,like that, that racket
background.
Yeah, um, my grandpa was atennis coach so, yeah, I just I
never even heard of it beforelike 2023.
So I started playing last mayand I just kind of got obsessed
(33:15):
with it.
So I play at least five days aweek.
You know when play it's atleast two hours a day.
Um, I played a lot oftournaments.
So you know, I started playingin tournaments a few months back
so got some gold medals undermy belt and, you know, played a
couple of tournaments wherethere were some awesome people
and got my butt kicked.
(33:35):
But you know, I'm gettingbetter and I love it.
I just really like it.
It's a lot of fun.
I prefer doubles, but I likesingles too.
So, yeah, I just really likeplaying and this whole social
aspect too.
I've met a lot of friendsthrough it.
We call each other pickleballdegenerates and we like my crew
of people, we like to play a lotand play each other and things
(33:57):
like that.
So it's fun.
Tony Johnson (34:05):
That's crew of people we like to play a lot and
play each other and things likethat, so it's fun.
It's amazing.
Yeah, I mean it is such anaddictive, fun sport you you
wouldn't believe I go playingtennis.
It is just like the goofiestgame on the planet.
But it's extremely addictive towhere, like yeah, it's
literally within like 15 minutes, you're like, oh, this is the
funnest thing I've ever done inmy life yeah it, it's fun.
Kurt Buchert (34:20):
And then, like, as you get more kind of advanced
into it you know, now I'm kindof getting into like the 4-5,
playing against some 4-5-5-0s.
I think I'm like I'd say maybeI'm a 4-5 or right below that it
becomes like a chess match,like there's just like a lot of
strategy that goes into it.
You know, a lot of ballplacement, like where, why am I
(34:43):
going to put, why am I going tohit this ball this way to this
person versus that way A lot ofchess going into it when you get
into the more advanced parts ofit, which is really cool as
well.
So it's not only a physicalsport, it can be a mental sport
as well.
Tony Johnson (34:59):
Oh man, that's amazing.
I love it All right.
One other quick thing I wantedto touch on, so it kind of goes
along with what I do.
So you know we had talked a bit, your wife had been, you know,
teaching Pilates and lovedPilates, and you guys opened a
Pilates studio in Florida andit's done so well you're opening
(35:22):
another one.
Could you kind of talk usthrough that journey and how
that's gone for your family?
Kurt Buchert (35:28):
Yeah, so my wife has background in fitness.
She's always been big intofitness and she worked at.
She worked at a.
She was a pure bar instructorfor seven years back in New
Orleans and then her sister,who's 15 years younger than her,
worked at Orange Theory for abunch of years.
I wanted to move out here toFlorida to be closer to us and
(35:51):
just kind of wanted to move outof Utah and move to Florida.
So I was like, well, y'all needto do a fitness studio.
And my wife really didn't wantto do it because she, my wife,
she wanted to be a stay at homemom.
So I was doing that, Yada, yada.
But she decided like, yeah,that's a good idea.
So they, they started talking,they came up with an idea and,
(36:15):
yeah, we just ran with it.
They found a place, theystarted the business, we built
it out and it's been goingreally really well.
They worked really really hard.
They're a great team, it's agreat studio, They've built a
great community and they've justkind of been a victim of their
own success.
I mean, their classes arebooked all the time, They've
added a bunch of classes andthey're just doing so well.
(36:37):
That was like y'all need to do asecond one.
And then my wife didn't evenwant to do that so but now that
we like the second ones on thedrawing board, my wife's talking
like I want a third one now.
So that's kind of funny.
That's amazing.
I think she's really gettinginto it and she really enjoys it
(36:58):
.
She might not tell you she does, but I think she really does.
She finds a big sense ofaccomplishment over it.
But it's been great becausereal estate's kind of been.
The margins for my businesshave tightened a lot in the last
year and a half with insurance,property taxes and the rental
softening.
So it's been.
It's actually been a godsendfor us, for our family and
everything.
Tony Johnson (37:16):
So it's been nice, yeah, and and really the.
The biggest boom we're seeingin, you know, the commercial
space, as far as what I'm seeingis the wellness and the fitness
side of the retail sides ofbusiness.
So that's where all the growthis.
That's where all the growth is.
That's where everyone you know,ever since COVID, when people
were kind of stuck in peoplelove that environment to be able
(37:40):
to go, have the camaraderie ofworking out together.
The class atmosphere of exerciseis really great, you know, and
keeps people motivated and keepsthem engaged and keeps them
going, Not like a general gymwhere you just come and go and
there's a lot of drop off.
You know that that class, justlike what you're saying with the
pickleball, you found thefriendship and you build the
(38:01):
friendship.
It's the same with the classenvironment for working out.
And so to your wife's testament.
Obviously she's taking whereshe's saying she wants a third
one.
She's taken, you know her, fromteaching the bar to now
understanding how running abusiness, obviously turning that
and thriving in business,because she's probably not near
teaching, near as much Can'tteach it all three of them,
(38:23):
right.
So she's gone from the teachingaspect to now thriving and
loving to run business.
Kurt Buchert (38:29):
Yeah, and she had never.
She had never run a businessbefore.
I mean she she had workedbefore.
She was in sales, so she wasgreat with people.
She's got an incrediblepersonality, so she's always
been incredible with people.
Um, so she has that skill set,but running a business she had
never done before.
But yeah, she's jumped right inand she's she's been great.
I thought I was gonna deal morewith like talking to the
(38:52):
contractors and all that type ofstuff, but she's doing almost
all that.
I just kind of butt in wheneverthey ask me.
Tony Johnson (39:00):
Oh awesome which is less and less often Right.
Yeah, that's amazing.
Yeah, you know, I think thatthe studio atmosphere of fitness
I feel like it has really itstill has a long roadway of
going up.
So I think there's a lot ofopportunity.
I think you guys are right in agreat niche right now and have
a lot of opportunity.
(39:21):
So, you know, keep us informedand let us know if that turns
into a franchise model as yougrow and maybe you compete with
your bar down the road.
Kurt Buchert (39:29):
Yeah, we'll see.
You never know.
I mean, I don't know if we wantto.
You know, we're huge on havingour lifestyle rather than rather
than like working a hundredhours a week.
So I don't know if that's thefuture, but you never know.
So we'll see.
Tony Johnson (39:44):
Well, awesome, well, thank you so much for
joining us, man, it's been apleasure talking to you and
getting to know you a bit andfind out about your family life,
and I just sincerely appreciateyou taking the time to sit and
chat with us.
Kurt Buchert (39:56):
Yeah, tony, it was great man Appreciate it.
Tony Johnson (39:59):
Thanks so much, man.
Hopefully we'll get you onanother time later down the road
.
Sir.
Thanks, so much, sounds good.
Thank you, have a great day.
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