Subscribe
Share
Share
Embed
Join us for an inspiring conversation with Kyle Hood from Natural State Property Management and Arkansas Real Estate Collective. Kyle shares his incredible journey from church ministry to managing over 1,500 rental units across Arkansas. Discover ...
Elevando el River Valley
Speaker A: Place, so.
Speaker B: Hey, Randy.
Speaker A: Hey.
Speaker C: Hold on. What's up, bro?
Speaker A: Nothing.
Speaker B: So a key, you know, you know, introduction. Yeah, any, you know, something. I like to mix it up a little bit.
Speaker C: So you think.
Speaker B: And then upcoming event. Randy, he has all that info. I think we're good. Anybody need water? Where that mold stuff came from?
Speaker C: Yeah, he's just dirty, I think.
Speaker B: Oh yeah, let me.
Speaker C: All right, well at least get that toilet and stuff so that you can get paid for that, you know, put it in there.
Speaker A: Yeah.
Speaker C: All right, thanks a lot.
Speaker A: I appreciate it.
Speaker C: Sorry about that. I brought. I got kis and donuts.
Speaker B: Right.
Speaker C: I mean, you can. I always try to. Always try to shout out to the local places we get food from. We normally do podcasts around lunchtime and.
Speaker A: Well, I, I can come back because
Speaker C: it's a thing, you know, I like to support local businesses and stuff too. And so it makes us fluffy though. See, I'm not gonna eat any of this.
Speaker B: I brought it 10 pounds. I mean 10 calories.
Speaker C: I brought it for you guys because I know that up the hill temptation going to be there for Obi to eat it.
Speaker B: So I'll do a kolache. It has some protein.
Speaker A: It's basically fat free.
Speaker C: Yeah, yeah, if you think about it like that.
Speaker B: So, Randy. Hey, so we. I've been plugging in sponsors at the beginning, at the end. So on this one I want to do. Hey, this pocket is brought to you by Wooten Customs. Is there any slogan or anything else you want to add to it? You know, like, like diamonds. I put, you know, leaky roof. You're uncertain about the last storm, you know what I'm saying? Like, that's kind of like that edge.
Speaker C: Yeah, yeah.
Speaker B: So I can just do wooden Customs
Speaker A: property.
Speaker C: We, we don't do just property maintenance. So that's one of those things. It's just a portion of the business. So.
Speaker B: So property maintenance and construction or just
Speaker C: wooden customs home renovations and just do Wooten Customs. Residential construction, home and home renovations. Because that's basically what it is anyway. And then my microphone got turned down or my ear gut stopped up, wouldn't you say?
Speaker A: Property maintenance.
Speaker C: Yeah, so we do that. We just don't advertise it.
Speaker A: Okay, I understand.
Speaker C: When, when we first started this, I pushed property maintenance hardcore because that's what I was trying to, to really get into and get cash flow and, and we're still, you know, extremely grateful for it. But I push the residential construction more because it's basically what property maintenance is too, you know, what are you gonna do? To that bowl.
Speaker B: He brought it to put it. But I mean
Speaker C: I say just slide them back and leave the box open. Hey, so something else I was thinking about that would be cool for the 500 building is that the local Arkansas weather watchers don't have a place in Russellville for a camera. I think that would be awesome.
Speaker A: Up on top of the six.
Speaker D: Well, yeah.
Speaker C: And that would be an awesome way to say, you know the. On the television. You know. This camera is brought to you by Arkansas Collective or. Or however.
Speaker A: Yeah, we're going to put it Union bank so that we can then.
Speaker C: Union Banks. Good, good deal too, you know.
Speaker A: Are we recording yet?
Speaker C: Not yet.
Speaker A: Yeah. No, we keep labeling things Union bank so that we force them into buying us.
Speaker B: I love that though. What is it?
Speaker A: Our building, the 500 building. You know, they've got Union bank on top of it and so people are already starting to call it Union Bank. Yeah, I said we've done that on purpose. So we have a ready, willing, able buyer one day.
Speaker B: Yeah.
Speaker A: You know so they, they're setting it
Speaker C: up to be able to sell that real estate at some point.
Speaker A: Sell the, sell the building one day too.
Speaker D: You know and that's.
Speaker A: We always joke about that.
Speaker C: Your headset, brother.
Speaker D: It's one of those, one of those things, you know because the name Union is on there real big and it has. Has a potential of you know, growing big and becoming kind of one of the main.
Speaker B: Oh yeah.
Speaker A: Especially with First. I mean First State bank still local but with them having sold out you could argue that Union bank is more local than First State Bank. They're from Mena in Paris and so. So that's what they've come. Yeah. The thing that you do need to know both they're a point below everybody, you know like investment loans or commercial. They're at 6.5. And so the only thing that beats that if you all are doing something where with some of these out of town banks are like Leo Cantu at bank Oz K is doing these 30 but they're on a 30 year a.m. and so that's the only thing that
Speaker C: I actually already do business with Union Bank. He's about to go. We're about to do the second property through Union bank which is cool with McGee. Yeah, he's. He's over there. He's straightforward like.
Speaker A: Yeah. And he's going to help you.
Speaker C: Yeah. That's what I like the most. Centennial had to jump through hoops and stuff and I'm okay with jumping through hoops but when the business Been in business for four years and there's substantial funds and stuff like that.
Speaker A: You know, I, I've been in it long enough to where used to. You could go and say, hey, this is what I'm going to remodel this. This is what it's going to appraise for. This is what I have in it. Give me the, you know, and they give you the money. Then, then it turned into jumping in hoops or putting up another property, you know, making it more complex and Union Banks more like a step in that
Speaker C: we should, we should start the podcast and hit Union bank back in the conversation too since they're the same building. Because I think that's.
Speaker B: So this is how I have it set up. Pretty much. The podcasts are always like we, we just met, we're just introducing each other. So I'm going to start by doing my podcast tag welcome and all that stuff. We have our special guest, Kyle Hood from Natural State Property Management. And I'll throw in the sponsor of this pod brought to you by Wooten Customs. And then welcome everybody. How's it going? Did you guys survive the tornado? Etc something like to break the ice. And then, then we'll go straight to you. Hey, tell us a little bit about yourself. And then just little backstory and then all engaged, the guys will come in with like any questions they might have. Maybe halfway ish or when it feels right. Well and by the way, we have an upcoming event a March 19th and then maybe around there we can get to the Union bank or when he starts talking about his background. So it's kind of like right after we intro and then after that, once we've said everything and it feels right, I kind of go back to you and like ask you, hey, do you have a message for the community enemy watching that's already kind of like when we're going to end. And then I'll ask the guys, hey, you guys got anything to say? Any message for the community? And then, and then we'll do the outros and then I'll just be like sponsored by Wooten.
Speaker A: Thank you for watching the name of your podcast
Speaker B: E L E V A. Are you looking for it on. Yeah, Spotify 11 podcast.
Speaker C: I'll send you the link to. You're on Facebook, right? So normally what we do is, is this will be posted and then it gets put into AI system. It pulls a couple of good clips out of it and. And then there'll be a full stream of it somewhere as well. Where's that at YouTube or is it on.
Speaker B: On YouTube? Facebook, and then we'll do.
Speaker A: I didn't think that was. Or you had one glamour shot right there.
Speaker B: I was like, that's probably someone else. Yeah, I think Ty would know because he's the one that distributed everywhere, but I know for sure it's all Facebook. I'll get Facebook, YouTube.
Speaker D: Yeah.
Speaker B: Then we'll tag you. I mean, we're gonna have to drop it next week before the event. Today's Wednesday. Right. And I. I gotta drop at least two because there's the. The one with Karen at the tech. And then that same day in the night, we have the round table. So, yeah, we'll be dropping those simultaneously.
Speaker C: But basically what we're doing is we're. We're building a little thumbnail so that all the businesses that are part of that real estate roundtable can share that and try to grow that event big enough that when you show up to the meeting, when we all show up, that there's a good crowd there for you to talk about and maybe get some more property.
Speaker A: When you say Natural State, I am going to have to introduce with Arkansas Real Estate Collective so that. Okay. They don't think I'm trying to exclude them.
Speaker C: No, no, you do include everybody that you need to work. We're completely cool with it.
Speaker B: Yeah. I can say Natural State Property Management
Speaker A: and Arkansas Real Estate Collective. So.
Speaker C: And see, what's cool about it is, is each of our platforms have, you know, several followers on it. So what it does, it gets us kind of put in front of everybody's face.
Speaker A: Yep.
Speaker C: And then the people that are more interested in learning about property management will be more prone to come to this next meeting.
Speaker A: Yep.
Speaker C: So, yeah, it's pretty cool. And then we're having that meeting into 500 building too, which they're also allowing us to do that, you know, so.
Speaker B: Okay.
Speaker C: Maybe we can pitch that as well.
Speaker D: If. If you see that something is missing, you jump in and take over.
Speaker C: Yeah, we'll see. And I think. I think we'll be fine. Yeah, Kyle's pretty smooth talker, so it'll be all good.
Speaker D: I'm just saying if he forgets or something or.
Speaker B: Or.
Speaker D: Or whatever, feel free to jump in. Yeah, yeah, yeah.
Speaker B: And then when do we break the bread? Like, soon after.
Speaker C: I mean, I would say you introduce people and say, hey, you know, we
Speaker B: got some donuts, yo. You bought.
Speaker D: Yeah.
Speaker C: Normally what we do when we bring food is it makes the person we're talking to feel more comfortable. Because when you're breaking bread with someone Your guards let down, you're a little bit more relaxed. I really would have locked you in the nervous seat.
Speaker D: I seen your message right now.
Speaker C: I put every. We put everybody in the nervous seat. It's just funny, you know, but everybody shines differently, so you'd have been fine.
Speaker A: Just give them a shot of tequila over there.
Speaker B: All right, listen, well, the only shot tequila would be like Kahlua, right?
Speaker A: The. That feels good for with coffee in the morning. Yeah.
Speaker B: Yeah. All right.
Speaker C: So.
Speaker B: All right, AI, we haven't started. I need you to start us off every time I say what's up? Guys, this is OB or Kingos. This is ob. So we can start at. At that second. So try to remember that. Okay? Kigos, this is Obi from Eleva. Today we have a good podcast. We got a upcoming event on March 19th with real estate Roundtable. Today. Our guest is Kyle Hood with Natural State Property Management and Arkansas Real Estate Collective. We're going to have an awesome conversation with him. But before that, I want to let you guys know that this podcast is sponsored by Wootton Customs, home renovation and residential construction. Whenever you guys need something fixed or a new project, don't hesitate and give them a call. Welcome, guys. Did you guys survive the tornado today?
Speaker C: I did. You know, I was up outside like any other Arans and looking at y'.
Speaker B: All.
Speaker D: Don't get up me usually if I find out there's one. But I was.
Speaker A: I was out only because my phone went off. You know why? 45 minutes before, bro. Yeah, it even came.
Speaker B: Yeah, mine was. And I put mine on silent. Do not disturb. And it's still just.
Speaker A: Yes.
Speaker B: You know, overrode everything and just beep. And I'm like, what the heck? And then tornado, What I did, I just opened all the windows from my room, just making sure if I see tree branches, then I'll. Hey, guys, we got to go to that middle room. But that was pretty much it. So we were up for about an hour.
Speaker A: Yep, same here.
Speaker B: My wife was texting a few people, though. I almost text you, but I saw you already on the thread. Like, I'm over here watching it.
Speaker C: Got to keep the kids safe, you know, I'm not really scared of it. I'm more of a fanatic. I like the storms and stuff. So just not at three o' clock in the morning. Yeah, I mean, three in the afternoon. That's a little different than getting woke up. 2:30.
Speaker B: That's funny how they're always at night. Yeah, I don't know. I guess. Let's Wake everybody up, you know, But I haven't heard anything. I haven't seen if there's any damages or anything, but I don't think so. I'm hoping that, you know, nobody was hurt or any property was damaged, so,
Speaker C: I mean, maybe a roof or two.
Speaker A: Jonathan.
Speaker B: I know a couple phone calls.
Speaker A: Yeah, Jonathan was noticeably silent on that
Speaker B: one where you're like, yes, I'm get some phone calls. You know, before I used to get
Speaker D: really excited storms and everything especially, you know, I, I don't want, I don't want the whole tornado thing, but I do like a little bit of hell damage, you know, I want some hell, you know, so I'm pretty sure the car industry, you know, like the body shops and all that, they want some, they want some hell too, you know, so they can fix a couple cars. But I haven't, I haven't got that excited about hell. I guess since we've been staying so busy, it doesn't really matter, but we, we haven't had one in a while. We always get these little small ones, all that. It's not like over there like in Fort Smith and Northwest. Sorry. They get it quite a bit. We'll be the other place. They get it pretty good.
Speaker B: Bb.
Speaker D: BB Bolognia.
Speaker B: They get it.
Speaker D: They get it pretty good over there.
Speaker A: Yeah. Wow.
Speaker B: Well, before, you know, Kyle, why don't you tell us about yourself a little bit of your background. I'm excited about this event coming up about property management. There's a lot of people that have rentals or, you know, and I think it's going to be a really good night. But before that, tell us a little about yourself. And then why don't we all grab a. A donut? Our friend Yao at Shipley Donuts, you know, makes an amazing donut. So whenever you guys want donuts. I mean, he has a line anyways every morning, but check it out.
Speaker D: Thank you.
Speaker B: Brought.
Speaker D: Yeah.
Speaker B: What did you bring, Randy? Kolaches or whatever.
Speaker C: A dozen?
Speaker A: Yeah, one of those over there you go, Randy.
Speaker D: Randy wants to check your expectations. Yeah, he's like no fit today.
Speaker B: I don't know if you guys did knew about this, but Jonathan is like sweet stuff stuff. Are you gonna do sweet stuff to this?
Speaker C: That's why I brought him kolaches too. See?
Speaker D: Yeah, I'm gonna, I'm gonna do it, you know, for the podcast guys. For you guys.
Speaker B: He's breaking his.
Speaker D: What do you think? Right now I'm gonna let, I'm gonna let you pick my donut.
Speaker B: What would, what would Jonathan, like, I.
Speaker C: I know which one I think you would pick, but.
Speaker D: Okay, which one you think I would pick and which one you think I should get?
Speaker C: I don't know. You don't really like sweets, huh?
Speaker D: No.
Speaker C: What about cookies? You like cookies? I'm not guessing. Maybe this one over here. That loose, like.
Speaker D: Oh, yeah, that's. That's my favorite right there.
Speaker C: What is that?
Speaker B: So if he's gonna go for. He's gonna go all the way. Look at Sugar covered.
Speaker D: So the. The Mexicans donut places and. And bakeries, they have one like that.
Speaker C: It's a sweet bread with sugar on it.
Speaker D: I always like those and all that. And if I. When I get donuts, I like getting glaze.
Speaker C: Yeah, Glaze.
Speaker D: Every now and then I'll get chocolate, you know, but this is first, that's second, and that's third.
Speaker C: Oh, you like coconut too?
Speaker B: I'm a sprinkle.
Speaker D: No, not coconut.
Speaker B: So I do sprinkles. I'm gonna get one of these over here for my protein.
Speaker C: I didn't get the jalapenos for you.
Speaker B: No. Yeah, we had a lot of jalapeno last week. Oh.
Speaker D: So Randy made us do a. I didn't make you.
Speaker C: Y' all started that.
Speaker D: Randy, we could go back and watch that video.
Speaker B: Yeah. Come on, guys.
Speaker D: Come on, Come on.
Speaker C: It's like alcohol. I try to push it on everybody.
Speaker D: Yeah, he brought all this. What is it, spicy? Whatever. I don't.
Speaker C: Super spicy. Couple different challenges and stuff that had different hot sauces. And it all started with Jose from La Munchi's bringing the aguachilli, which is shrimp, and all the fixings and stuff like that. That's super spicy.
Speaker A: Yeah.
Speaker C: And he brought it, and I brought some hot sauce to the next one, and they drank the hot sauce like it wasn't anything. I'm like, nah. So we went to Eureka Springs, and I bought multiple things that were just, like, over the top hot. And. And I think I got you last week, Denobi.
Speaker B: Yeah, all of us. All right.
Speaker D: My spot was.
Speaker B: Oh, your stomach was later that day, too.
Speaker D: Yeah.
Speaker C: Y' all didn't talk about that on the podcast, you know, but that's okay.
Speaker B: My napkin.
Speaker D: Well, it was afterwards, though.
Speaker C: Oh, I got you.
Speaker D: Yeah, during it. I was okay.
Speaker C: But we didn't get any waters or anything, huh?
Speaker B: No, I'm good, though.
Speaker C: Yeah, I'm not gonna.
Speaker A: You want water? No, I'm good. Thank you.
Speaker C: All right, so let's get into this. Let's talk about the Mr. Cowell hood here.
Speaker B: Yeah, yeah.
Speaker A: Get me to start talking, but feel my mouth full of food so I sound really good.
Speaker C: Just smile real big and have a piece of bread stuck in your teeth.
Speaker B: So real estate, like.
Speaker A: Yes.
Speaker B: Was that something you always wanted to do? Did you do something before or real
Speaker A: estate was your thing? Little funny. My wife is from here. Her family, her dad's Boyd Osborne. They've had flowers, etc. They came here in the late 1970s or early 1970s. And actually him and his wife were both school teachers, but they had always done flowers and antiques and stuff. And so they actually followed his uncle down here to work in a church. And so he actually passed away yesterday, but Bethany's uncle did and they started Flyers Etc. Been there for forever. Me and Bethany moved here. We met in college, met here, moved here in first of 2001. So I've been here now basically 25 years here, here longer. We were actually working with a church over at Arkansas Tech as college ministers. And part of the deal with that was another church started taking it on. It's like, okay, hey, if a church taking it on, then we'll. I'll step aside. And then we. We weren't supposed to have kids. And then all of a sudden we. We had a kid. And so I then had to start working and finding something. So Bethany's dad was in real estate. So I thought, well, I'll try that out. Was in real estate for about a year and a half and. And knew I didn't know enough. And I had a title attorney take me on. And I basically did the legwork of putting together title company in western Yale county, then Conway County, Perry County. I still was selling real estate at the same time oil and gas hit. I followed that being a landman, leasing up people, researching minerals. So I have a really, a really good knowledge of title and how that works. The other was I was fortunate in my position in the oil and gas of. Of going to the oil and gas commission every month and doing a report on it. And so actually got to learn a wide scope of it, not just a very small scope of what was going on in Arkansas. And so during this whole time that was also, you know, 2001. You know, we had the financial meltdown in 2008. If I start jumping too many things, just kind of tell me, I'm going to kind of give you a history. We had as a real estate offices, and here we had six different developments going on at various price points in the market all the way up to 2008. And then everything shut down. And so now we've had basically in the last, I mean, Jonathan, you can say we've had a couple went out at Shiloh and now that's been built out and then we've had over off of 12th Street. And that's the only thing we really pretty much have that's a development right now. So that's how much our market has changed in that sense. So back to the oil and gas, that was easier to make a day rate, you know, trying to make something happen. And then I kept up my real estate, did that. I was on the road, actually, it was 2012 and I'd be in Kansas during the week, then home on the weekend. And my kids, you know, My oldest was 12 and 8 and 5. And you know, I saw the writing on the wall. I'm either going to be divorced in 10 years, won't ever have my kids see me, or I can come back home and, and try to start it all. So I restarted my real estate again and then I also had started property management at that time just to develop another cash flow. And so in the meantime, also in between all this, me and my wife, we've been married almost 29 years. We've moved 17 times. Oh, and so. So you, you name it on how to remodel, house, flip it, fix it, we have done it. You know, if there's been a mistake, we've done it. So that also led me, you know, back to, you know, I said about the five, six different developments going on in Russell. You know, if you go back on to how real estate brokers would work that they would used to, they would always make their money off of their real estate agents and then take that money to go develop other subdivisions. Well, that paradigm has changed. And so my thought was, okay, well, I will develop property management to develop cash flows that I can go do a development in a subdivision, you know, that's still the goal is not there yet. But that was kind of my thought process of how it kind of led me down the path to get into property management. So it went from having, you know, my own rentals to having five to 10, then I'd grown it up to, to a couple hundred units, then had the opportunity of being a partner of buying out Ford Property Management, having to learn that whole process, try to build that reputation up, get it into a standard. And then now we've replicated that again and I've done that with Rustville Property Management. So that's kind of a roundabout way.
Speaker B: Yeah, you have Experience.
Speaker C: Could you hit that fan?
Speaker B: You sure?
Speaker C: I mean, you're melting me.
Speaker B: I don't.
Speaker A: I'm.
Speaker B: We'll have a little buzz.
Speaker A: Yeah, I'm melting right now.
Speaker C: Is it gonna make too much noise?
Speaker B: It won't make or break it. I mean, it. I'll know it's there, but what.
Speaker C: Can. Can we turn on the air in here then?
Speaker A: Yeah.
Speaker B: I don't know. It's a whole building.
Speaker C: Like you're cutting this part out, but, like, I'm melting. Yeah. Dripping. Just saying.
Speaker B: Really?
Speaker D: Yeah.
Speaker B: Well, I think we can open the door.
Speaker C: That's a little bit better. You want.
Speaker A: Yeah, Yeah, I feel good. Okay.
Speaker B: Yeah. What?
Speaker A: Sorry, what was that answering or was that kind of.
Speaker B: Yeah, no, that's great. I mean, if you're watching, you need to be with us on the 19th at the Real estate roundtable because you're gonna get some. Some good nuggets there. So how many units are you guys up to now?
Speaker A: We're probably managing a little over 1500.
Speaker B: Wow.
Speaker A: Wow.
Speaker B: 1500. I want to ask. How do you. How do. How can you. How do you do that?
Speaker A: That's really what I. When I come and speak to everybody about whether you need a property management company or not. I've been in business long enough, and I'm talking about whether real estate, property management, and this is kind of like in life, you try to find people who want to help you and. And I'm not. Not those where somebody's taking advantage of you. It's where we're a win win situation. Or they're not trying to hold something over your head, just genuinely trying to help you. And property management is. Okay. The bigger you get, or this is like anything, the more systems you have to have in place and the more it has to meet these certain things, or if not, you get a snowball effect. I'll tell. You know, I told you, if there's been a mistake about rental properties, I'll say it myself. For example, I had one rental property, then two rental properties, three rental properties. You know, unless you're paying cash for everything, which, I mean, I'm gonna raise my hand. I do not have cash for everything. And you're using mortgages or debt to finance your stuff. The. The greater you get, the. The better you better have with your systems. Because all of a sudden you don't have just one AC unit go out or one hot water tank go out, you've got three. And you may be able to cash flow and pay for one, but then if it's three or if it's five and it all happens because you know, if something bad happens, it's going to happen. You better have that in place. So with property management, the systems that we have and then being able to then report to the owner, report to the tenant of what's going on very quickly, then, then you're going to be successful. So it's a, it is a very fast pace. You can ask Randy. It's a very fast paced industry because something is always, I shouldn't say going
Speaker C: wrong is always wrong.
Speaker A: Yep.
Speaker C: 100. Yeah.
Speaker A: So, so it's, it's, it's a people industry. You're, you're there to fix and provide the solution. So just like in the roofing.
Speaker D: Yeah.
Speaker C: And do that cheap enough that the owners still have what they need at the end of the month too.
Speaker D: You know what I mean? Yeah, yeah. Well, I mean, I think, I think that's called, that would be a service. And obviously the customers, the homeowners, you know, they want good service. And when you own rental property, you know, you want, you want a good deal. You want a good deal because at the end it needs to be cash flow. If there's no cash flow in it, then what's the point having it, you know, it.
Speaker A: Because then it becomes just a headache. Flow.
Speaker C: Headache.
Speaker A: Yeah. And that is, that's back to having the systems in place. So.
Speaker D: Yeah, no, I actually, I, I'm in a property of one of you guys right there and you guys get there pretty quick. Randy, fix my sighting there.
Speaker A: Yeah, he does make us look good.
Speaker D: Yeah, you. And you also need, you know, contractors that way too, to help you because at the end it's a whole team. Yes, you, you, you're the way the business is, the whole team. But obviously right now, hearing you talking everything, it seems like you've gotten your hands dirty. So it's, you're able to run the business a little bit more efficiency and people can't tell you it can't be done. Oh, yes, I've done it.
Speaker B: Yeah, I've done it.
Speaker A: Yep.
Speaker D: I've learned the hard way, you know,
Speaker A: very much so, actually.
Speaker D: And then it's not until you own some property, you know, when you really find out that maybe property management, it's a good idea. I, I don't have nobody. I'm doing it myself. But we talked about it and that's my, that's my next goal there, you know, to get with you guys and let you guys run it. Because when you're running a business, you don't Want those headaches too, you know,
Speaker A: But y' all are self employed when you're having to do all the things of the business, all the different things that you have to do and then you're trying to then have to go take out hot water because I mean, I used to do everything myself. Lay the floor, paint, you know, you know, all the construction stuff. But then. Okay. Which is the time value of money on it.
Speaker D: Yeah, yeah.
Speaker A: It's going to be a trade off on somewhere or a tenant that you
Speaker C: couldn't get out, huh?
Speaker D: Well, tenant, yeah, yeah, yeah, I've been, I don't, I don't want to brag about it, but I've been late a couple times, you know, and I've seen those, those nasty lighters in my door.
Speaker B: Yeah, I was referring to the tenant.
Speaker C: To the tenant that you couldn't.
Speaker D: Oh, I know, but, but I'm saying I've seen the letters too, you know, that you guys sent out and everything. That's a, that's a good strategy like that. Definitely.
Speaker B: So, yeah, I think it's good to have something in between the owner, you know, Cuz things can get personal sometimes and they meet you and you. Oh, let me give them a chance. You get taken advantage. I mean, I tell you from my families, because my family, they run the properties we have in California and we've never, we actually, we did have a management company and my dad thought it was too expensive and so he did it again and he has the headache again. So my brother's like, yeah. So I, well, you, you, you, you
Speaker A: coming from an owner perspective of anybody, a lot of times, I mean, that's why they've started having the properties because they've taken care of their money and they know how to do their stuff. And we have that struggle where owners won't come in and start doing their own or handling their things or they take it back because it's too expensive for them. But then more times than not, they'll come back to us because it is back to back. Okay. I forgot how much the headache was, you know, or the pain of it or. One tenant will definitely do that to you.
Speaker B: I get some gray hairs on you. Yeah, we had a, we had a person we couldn't kick out for 12 months and they knew how to play the system, especially out there in California.
Speaker C: Yeah, Covid was a big deal and they were playing the COVID card, you know, back in those days where couldn't really get them out of the apartments during that. And it was a even worse Nightmare because you had the government saying, hey, you can't do this right now, you know.
Speaker A: But that is also a part of a good property management company and that's what we've been trying to develop more and more is if you know what's going on in that unit. And you know, I call it reading the tea leaves. And it's kind of like people with credit or whatever. If somebody's consistently late two or three months in a row or all of a sudden you need to be following up with what's going on with you. Hey, got sick, family member, job's not going as well. Also on the same side of us going in and inspect, we, we inspect our properties quarterly, you know, once every three months. And that also, I call it back to reading the tea leaves, seeing what's going on. If all of a sudden, hey, you didn't notice that your sink was dripping underneath and we got damage there, or hey, where did this animal come from all of a sudden? Those are kind of things that, that benefit the owner.
Speaker B: Yeah.
Speaker A: But it also benefits the tenant because if we have a certain standard that is there, then they're keeping the property up better, then if they like the property better, inevitably they're going to be there longer, you know, they're going to
Speaker C: take care of it more if they like it more, you know.
Speaker B: Yeah, no, I think you guys are on top of it. Just because my father in law had moved from another property management place that he wasn't happy with and he kind of got me to kind of in the middle sometimes and you guys are very communicative. That's very great. You know, any phone call, quick, and I think that that's really good.
Speaker A: My ultimate goal on it is to create it like a hotel experience. I mean, you know, you've got certain expectations when you go in there and stay overnight. Yes. This is a much longer term, but if you have that same kind of expectations throughout the whole thing, then, and you treat everybody right, then, then the business is naturally going to be there. So yeah, yeah.
Speaker B: I have a question for you, but does anybody else want to build on what we're talking about right now?
Speaker C: Oh, go ahead.
Speaker B: What do you like to do besides real estate and management? Like a hobby. Fishing.
Speaker A: Yeah.
Speaker B: Bicycle. I don't know, like towel.
Speaker A: I'll answer it two different ways. I have a membership out at the country club and I've only really used it because my son's wanted to use it. And so that's like my New Year's resolution is, hey, I'm gonna slow things down enough and then go, you know, I've got a guy in my real estate office that that's where all of his clientele comes from is because he plays golf and he goes and fishes. And I keep telling myself that's what I'm gonna do. And, you know, that's like one of those resolutions that do not happen. I would say that my hobby probably really is my family. Like I said, been married 29 years. My son is now married. Been married for a little over a year. They live half the world away right now. My daughter just graduated U of A last May. She's gotten accepted into Lions College in the dental school. You know, Arkansas has not had a dental school, and they finally did last year, so she'll be in the second class of that. So very proud. And then my youngest, she is a senior at Russell High School, plays on the soccer team, I would say. So getting to follow her around, you know, with that, I would say that this past year, my closest thing to a hobby, I got to play over in the basketball league over in Dardanelle all winter long. And so, you know, and if you can't see me, you know, I'm a tall fellow. So that's what makes it. That's what it makes it.
Speaker B: So I'm trying to convince Jonathan to let's get into softball, but that's a hard no. And I don't like to do some things I don't like to do on my own. Exactly. All right, we'll see.
Speaker D: I would like to, but we. We got ourselves in so many events,
Speaker A: and
Speaker B: it's a collection for sure.
Speaker D: Commitment, so.
Speaker A: Oh, yeah.
Speaker D: But I really would like to join some type of sport or something. I do.
Speaker B: Maybe basketball in the winter. That's when it's a little slower.
Speaker D: Yeah.
Speaker A: Now it's outside the whole time. I mean. Yeah, yeah. We're not playing inside. It's over outside beside the city park, so. Oh, yeah, yeah. You know, when you. You know, I say all this, but when you play left bench most of the time, and then those boys are tired and you just go in for like three minutes, that's all you need. When you're 50, that's what I need.
Speaker B: You're 50?
Speaker D: That's gonna ask you that.
Speaker A: How old are you this month? I'll be the big five.
Speaker D: Oh, it looks good on you.
Speaker A: Oh, yeah, yeah, yeah. That was like a bad rash.
Speaker C: That was really good, too. I like the hobby with the family. That's. That's pretty. Pretty great.
Speaker B: Yeah.
Speaker C: Well, we're focused.
Speaker A: All.
Speaker C: All about family too. All of us in here. So it's pretty, pretty cool.
Speaker A: Yeah.
Speaker B: Like, I have a 14 year old, he's in with the Cyclones. Freshman. I have an 11 year old and an 8 year old.
Speaker A: Yeah.
Speaker B: So you have older kids. What do you recommend to me right now?
Speaker A: You think you're busy. It's fixing to get kick in. But they're fixing to get, you know, driver's license and you won't see them anymore. I continue to. So. Good. So go that time and pour into them, you know, whether they think you cool or not, they're listening. And that everyday thing will pay dividends later on.
Speaker B: Yeah. My kids are three years apart, so my son's doing his thing. Hey, dad, he closed the door. I'm gonna have a computer gaming challenge or whatever. Then my middle daughter, she's doing the flute. So the only one lingering around is joy. And she's like daddy jumping at me. So I'm still like holding on to that because I know it's gonna. She's already kind of graduated into doing her own thing, so that's kind of what I'm thinking about every day.
Speaker A: Oh yeah, they're 25, 22 and 18, so. So about three years apart as well.
Speaker C: He's a little bit older. Mine's 19. Two 18s and 14.
Speaker A: Yeah.
Speaker C: So.
Speaker A: Yeah.
Speaker C: And then yours, yours are both younger kids, so.
Speaker B: Yeah. Lisa, right. She's still like daddy and.
Speaker D: Yeah.
Speaker A: I don't know if he still want to hug you.
Speaker D: Yeah, no, he meant to see kind of.
Speaker B: Yeah, like Lana too. I felt that because Lana used to dad. And then she started growing being a little girl. She's like, don't get too close or kiss or whatever.
Speaker A: I figured it out by the time ordinary come along. I was like, okay, you have to hug me every day till you're 12, you know. Well, I told her 13 and it lasted till 12.
Speaker B: So.
Speaker D: Yeah.
Speaker A: least I got my hug every day.
Speaker C: Yeah, yeah, yeah. Kids are great. They really are great.
Speaker B: Yeah.
Speaker D: It's kind of like pretty important. I think that's when you notice that you've matured, you've gone older, you feel you're, you're. You're maturing and all that. When you, you learned that family time is very important and you know, people always chasing happiness. I. I don't chase happiness. My happiness is them enjoying. Dad, we like this. You know, whenever I make a meal, because I'm not a cook or anything, so if I make something and they liked it, that's my Happiness, you know, like, all right, good. You know, I did something.
Speaker A: Okay, well, that's what this is back to when I was doing oil and gas work. And that's what it hit me was a lot of these landmen were either divorced or out at the bar every night, and they hadn't had nobody. And I was like, you know, that. That's just. I am providing a good, good income for my family. But that didn't it. And so nothing like being there every day. I mean, even if it is, you know, having that meal, I mean, those are the little things that. That matter later on.
Speaker D: That's good that you. That you notice that. You know, I used to be. I'm still workaholic, just not as bad as I used to. I used to live at work and be there all day. You. You met me during that time, that stage of my life. But I was. I was hustling. I guess that's what you were doing. You were hustling. You putting your time in. I think it's very important, but it's also very important to catch it in time and let your kids know, you know, because sometimes the kids can hold a resentment, you know, you were never there, but they forget that you were providing like a man should, you know, providing for their family. But you also need to catch it. And that's why I believe early in life, you should focus, working hard and everything, maybe stay away from partying and all that focus, because then you're going to have these kids, and you need to be. Once you have those kids, you need to be ready to slow down and start taking time for your family.
Speaker A: That is. I want to say that something that me and Bethany has done right, you know, especially with us not supposed to have kids and then us having kids, and it's like once you decide to have children, you don't have a right to yourself, you know, I'm not talking about, oh, you've got to go provide them with the latest and greatest, and just keeping up with the Joneses. That's not what I'm talking about. But you've got to pour yourself into them. And. And that's what it's a really back to why I've got into real estate was, hey, I needed to provide. And on the second side, as men, it's easier for us to say, hey, this is where we get our identity from. And, you know, that's always a fine line of your identity. But then also taking care of your wife and your family.
Speaker B: Yeah, yeah, excellent.
Speaker A: And because they take care of you, you know.
Speaker D: Yeah.
Speaker A: Just in turn. Very, very much more so than we realize. Yeah. So.
Speaker B: Yeah, definitely. No, I think thanks for that. Yeah, I think we all had that point. You know, you see yourself in the future and where you want to be. You said if I stay in this kind of business, I'll be the divorce or my kids won't see me.
Speaker A: Yep.
Speaker B: So you made a change and. And it worked out. You know, I think that's a lot of. That's a good thing for us men to kind of look at, you know, future and where we're at and then just roll with the punches. You know, it's like me, I made a move from California.
Speaker A: Yeah.
Speaker B: You know, and figuring it all out the last few years here. But we're excited to be here meeting these guys.
Speaker A: That's, you know, with getting. Being in real estate and seeing, you know, the mass exit is from out west to here. And it, you know, that is the repeated theme is slowing down enough being able. The. The affordability of being able to raise your family, getting to be involved in them, you know, and being. Lack of better word out of that rat race.
Speaker B: So. Yeah, I agree. Yeah. So. Okay. Well, I know we have this upcoming event and I'm going to hand it. I'm going hand it to Randy. The 41 1.
Speaker A: I don't have a 41 1. Come on.
Speaker C: Randy's Kyle's providing their Arkansas real estate collective. They're providing the space for us to do it in the conference room. You know, the real estate round table. Let's pack that thing out.
Speaker B: It's on the fourth floor.
Speaker C: It is on the fourth floor. Yep. I'm going to assume before we do it that we'll figure out how to guide peoples. Yeah, I think that'd be the best way.
Speaker B: It's easy.
Speaker A: Walk in there on this beside the coffee shop.
Speaker C: Big cup.
Speaker A: And then walk down the hallway and then hit the button to the elevator and go up fourth floor. And. And you'll find it if they want
Speaker B: to walk to some cardio.
Speaker A: Yes, the Cardio.
Speaker C: Yeah.
Speaker B: So 6:00pm March 19th.
Speaker A: That's right.
Speaker B: A new guest is free, right?
Speaker C: That's right.
Speaker B: First time visitors. And then. And then there's a membership fee if
Speaker C: you come back, you know, $20 a person. And then what we did this year is $20.
Speaker D: Yeah.
Speaker B: Yeah. And if you think $20 is like a lot, the knowledge you'll get is priceless for 20 bucks. And this doesn't go to anybody in particular. This just goes for the cost of it takes to hold these events. You know, there's. We got someone on making flyers and posting. And honestly, this is all to be invested back into the community, creating more leaders, more entrepreneurs so that these kids that graduate from college or people wanting to move here, they. They want to be here because there's opportunity. And that's what everybody's creating right now with their, you know, businesses, jobs, innovation,
Speaker A: the banks back into bragging on to Abington, you know, why not here?
Speaker B: Yeah.
Speaker A: And that's part of what this is. So believing in Russell, definitely.
Speaker D: Yes, yes, yes, yes. Yeah, the $20, you know, it's, it's, it's not a lot for the knowledge that you're getting for the, the headache that you're saving, you know, because I've, I've had a lot of headache that, you know, those $20 is a lot cheaper than a couple thousands of dollars, you know.
Speaker C: Yeah.
Speaker B: Making some mistakes.
Speaker C: So I'm going to assume that we're going to get together and, and discuss feeding them as well. Since there's not really a place to eat there, I would assume that may cater some food in so that people have this time, you know, go for that too. And if this works out good, maybe Mr. Kyle and them will let us continue to have those meetings there, you know.
Speaker A: Yeah, yeah, we've got enough. Yeah. I can't wait for y' all to see the little spot up there. And then getting to be up on the fourth floor, you get to see all of Russellville. Nice. And you know, it's the tallest building there. And so you getting to see the view right there. It's pretty neat to see.
Speaker D: Were you up there with when the eclipse went on and everything?
Speaker A: Yes. Yeah, we've been up there. Been up there twice for New Year's Eve.
Speaker B: Oh, wow.
Speaker A: Yeah. But up there, when the eclipse, my son actually, he proposed to his wife up there. And so. Yeah, pretty, pretty neat.
Speaker B: Now, on the rooftop, does it have the capabilities of having a rooftop lounge in the future? Because I know there's a little opening in the front of the building.
Speaker A: I could start talking about the, the 500 building, you know, me and you. One of my partners, Will Wetzel, you know, everybody knows him. Yeah. And so we both in getting that remodeled. The kind of the history of that building was built in 1924. And the lady that did it was an Arkansas lady, but she had run to Texas, had a bunch of debt, came back into town with creditors after, and she built the building and then they were part of the partners of it. That building Is nothing but concrete. And so it has four levels on it. But in the 1960s, she was about to put a fifth story so it can have a fifth story. That's why that elevator shaft goes up six stories. Well, that happened to be when the interstate system came in as well. So before that used to be the only thing on Highway 64 between Fort Smith and Little Rock. So it was a good stopping off point. When the interstate came in, that was the beginning of the end for. For the hotel, the Pearson Hotel.
Speaker D: And so that was a hotel.
Speaker A: Yeah, it was beginning as a hotel. We've got little cards that still show, you know, $2 a night. And it's people from New York all over the whole country. Yeah, that was all stopping on Highway 64. So it has a good history.
Speaker D: They stop first old south by and then crash.
Speaker A: Yeah. When you'll get over there. Because I can keep talking about. I have the original plans, architectural plans with an outfit I believe out of Oklahoma City. But it had a revolving door there on El Paso. So you would get people off of the train then walk up off of it and they. I don't know why you would take out a revolving door off of that place because, I mean, it had some cooler architectural features on. On the first. Then you know it. Whenever they remodeled it, it was gotten rid of. Well, I want to say what it was, was when they expanded 64 right there and made it, you know, five lanes instead of being two lane, they had to take some of this stuff off of it. So back to. It was just history is pretty cool. Very neat.
Speaker D: So I do. I do got.
Speaker A: So it could have, you know, in a. In, you know, the magic money tree.
Speaker D: Yeah.
Speaker A: We could put a fifth story up there and be a restaurant or a lounge and it'd be very, very cool. Yeah.
Speaker D: So hear that? Wet.
Speaker A: So we are. Yeah, we have. We have. We have dreamed about it and talked about it.
Speaker B: That's awesome.
Speaker D: I do want to bring something up, you know.
Speaker A: Yeah.
Speaker D: This guy bring a little tension to here. So I guess there's people. They're not too happy about painting it, huh?
Speaker A: Oh, no, that. That's. Yeah. People let us know that they did not. A little fun fact on that. Actually the paint color on that building is the same one as that's at the Capitol Hotel down in Little Rock. And so, so it. We've actually, after it all happened and done, we had a lot more people brag about it. But it's also, you know, with wonderful social media. It's called the 24 hour rule. You know, people gonna light you up.
Speaker D: Yeah,
Speaker A: I've heard it.
Speaker D: You know and the reason I heard it from people is people that they. They're really into the history.
Speaker B: Yeah.
Speaker D: They like the historic, they like the original. And I've done some work for these people and so they're really. But I'm. I'm both ways.
Speaker A: Yeah.
Speaker D: Like.
Speaker A: Well, it came down to an economic thing. We were. We. Because we had looked at just creating it back to original. But in order for it to been a historical like I'm going to talk about the windows. They would have had to been an eight pane wooden window. It would have cost us close to a million dollars just for windows. And I don't know if you've got that. If you've got that magic money tree or not. But.
Speaker D: And the government helps a little bit. But it's only. But no 30, I believe.
Speaker A: Yeah. Yeah. Very very minimal. The other thing then we could go into like that brick. You've got to treat the brick. And. And we would have had to went in and done a whole lot more stuff just to the brick of how it was as compared to how we've got it sealed and all of it. So we. We did it to the best of our ability. And then the other is be. Be happy to. To. To. To write me a check and we'll be happy to let you finish it.
Speaker D: Yeah. I was very happy with the way the process went with painting. It looks like you guys hired a good crew because it wasn't just a slap on. You know, it was the whole preparing. I mean it took. You know, that was expensive. I'm guessing people will be like man, I would have got done with that painting three years ago, you know. But it was. I knew it was. It's a historic place. I didn't know that paint was the one like that. That. That makes more sense. And that brings now how people are listening to this. That brings more value to that.
Speaker A: Oh yeah. That was also my wife. Then this is back from there decorating it and all of it. That's why we've been able to move and fix up houses and stuff is just knowing paint schemes and how to make things look. What. Look what. That's just. That's not counting all the. The rental properties and the fixing flips. We've done our. That's just us actually moving.
Speaker B: Yeah.
Speaker D: I want to know how much gallon of paint of that.
Speaker A: That's. That paint.
Speaker B: Yeah.
Speaker A: Oh yeah. I don't want to talk about it.
Speaker D: No, I. I do. I Want to know?
Speaker A: We will.
Speaker B: Okay.
Speaker A: Later, let's cut this off. If y' all want to see me start hyperventilating.
Speaker D: Bring up some water.
Speaker B: Guys.
Speaker A: Why do you have PTSD paint?
Speaker B: Yeah, man. Good deal. Well, guys, if you guys are following so far, we have this event on March 19th at 6pm at the 500 Building for the Real Estate Roundtable. Kyle Hood is going to give you a couple secrets or how to's on, you know, I think.
Speaker A: Yeah. On when to hire a property manager or not. The other. This is me asking you all because I really of who you all had here. I can start to nerd out then on math formulas of, you know, in having a rental property, there's four different values that you can take away from that. Is that something that I need to be bringing a different little math formulas to show you? Hey, this is kind of a rule of thumb on whether this will be a good property for you or not or what you all were.
Speaker C: Yeah, just everything. I think that your knowledge, like the
Speaker B: most important five points, you know, that people can take.
Speaker C: All right, the knowledge. I mean, you've got enough flip knowledge to know to guide the people when it's a good buy or a bad buy, you know, and then in, in.
Speaker A: In the real estate side, you know, I tell people, hey, if I don't know the answer, I'll find it for you. But I'll also tell you if, If. If that property is not good. That's the same how I'm going to. With the property management with, with people is. Yeah, you. You probably need somebody or. No, you're. You're doing great. You're doing better than I am. So.
Speaker D: Yeah, yeah, that, that you just. You, you're gonna bring us knowledge, you know, why. Why we should. You know, and, and you know, because you believe in your system. So you're going to educate us. Like we were talking the other day on the podcast, you know, I only have two property and I, I told like I heard that you didn't need a property management if you only have two. Randy told me no, you should. It'd be best and all that. I did not know that. So maybe you have some insights. Why also, even if you have to, why. Why is good. I kind of got the idea of it just because I can focus better on what I'm doing, make more money what I'm doing than messing with one of my properties that I'm making half of what I'm, you know, so. Yeah, but you can bring that insight for us that that night all right.
Speaker B: Yeah. And I would imagine that they have a better way of getting or. Or vetting better tenants for your property and all that good stuff, you know, because if I did it, I probably put a sign. I don't know who I'm getting a phone call from sometimes. I mean, I've done it with my dad. Like, you feel a little weirdo. We got to run your credit, we got to charge you 35. And then you're like, yeah, it's better for me. It's better for someone else to do it.
Speaker A: That's.
Speaker B: That's what they do, you know, so
Speaker C: I'm pretty stoked about that. 19th.
Speaker B: It's going to be far, definitely. And I know it's. It's been picking up fire since we started. Like, last time we had a full house, and then we already have the next few months scheduled. So I think it's something that's gonna be ongoing and it's going to bring a lot of value to the community. So I don't know if you guys want to add anything else. You know, usually when we're ending the podcast, I like our guests to just throw a message out there to anybody watching. You know, a lot of people that watches are entrepreneurs, leaders. Maybe they're like sitting there like, I want to do the next thing. How can I decide? You know, some of these people that work, you know, eight to five or whatever, they. They, they want to do something. So maybe, you know, anything from the heart you want to say to anybody watching.
Speaker A: That's back to just on the end is asking you all what you wanted me to talk about with property management. Come find out. I'll tell you if you need somebody or not. The other is, hey, how do you get that first property? Well, we'll. We'll talk about that. A lot of it is just taking that first step, but. But it's really first step or just asking the right questions. That's back to. I'm going to tie this back into how I got into real estate. I've. I have. I put myself through college, paid for it, did all of it, but it's a Bachelor of Arts degree. All right, what. What does that really do for me when real life happens? So I've had to figure out what I needed to do to put food on the table. And, and so my thought has always been, okay, if it's something I can learn more and it's able to provide or do something, that won't be it. That's back tied into, what do I do next? Well, keep asking the questions and then just jump off and do it. And then, you know. You know, when you mess up, and hopefully it's not, you know, and it won't be. The final mistake there is, you only fail if you stop. That's. That's a kind of thing. You just have to pivot and keep trying and keep trying and hustling.
Speaker C: So that's perfect. I like that.
Speaker B: Yeah.
Speaker C: Because you really only fail if you stop 100.
Speaker B: Yeah.
Speaker C: You get knocked down eight times, you
Speaker A: get up nine times, you know, because life happens. There is no rosy sweet, you know?
Speaker B: Yeah. No. Excellent knowledge is power.
Speaker A: You will be humbled.
Speaker B: Yeah. You got anything you want to add, Jonathan?
Speaker D: No, everything's perfect.
Speaker C: I think it was great. That's good.
Speaker B: Awesome. Well, thank you guys for joining us today on 11. And once again, we want to thank Wooten Customs for sponsoring this podcast, Home Renovations and residential Construction. Give them a call. Amazing work, and thank you for watching, and we'll see you guys next time. Peace out.
Speaker C: That's really good. I'm looking forward to the 19th. I think that's gonna be one of my favorites. Was that too bad?
Speaker A: No, not at all. Yeah. Okay. This is.