Cheri shared her real estate journey, emphasizing the power of buying property early and holding onto it. She discussed her experience with a property in Kissimmee, Florida, purchased in 2014 for $108,000, which has appreciated significantly over the years. Cheri highlighted the importance of due diligence, working with credible partners, and the impact of having a good property management company. She also touched on the stability and benefits of her investment, providing valuable advice for those considering real estate. The episode showcased how even a single well-managed property can have a profound impact on one's financial future.
0:00 Into
4:50 Seller Concessions
9:50 Introducing Cheri McCurdy
15:50 Planting a Shade Tree
24:00 Magical Money Machine
29:40 Typical Client Experience
00;00;00;00 - 00;00;33;21
Unknown
You know, I just think that this is such a wonderful interview. You know, the podcasters search for like the the biggest and most successful and the, you know, investors, you really represent our typical client. They may not have ever gotten into real estate had they not had our encouragement and expertise and help along the way. And I love that nine years later, you also get to share, you know, your story, which is a very typical story for our clients.
00;00;33;24 - 00;00;53;16
Unknown
All right. Well, hello, everybody, and welcome to replace your income with Kevin and Steve. How's it going, Kev? I am doing good. We've got a special guest today. This is another one of these episodes that we love to do where we get to talk to one of our amazing clients and we get to talk about her experience. And she is going to be joining us from Fertile Utah.
00;00;53;22 - 00;01;13;15
Unknown
And I hear now, Sherri, I'm going to introduce you in just a second, but I want to make sure that those listening realize that they may also get to hear from a couple of your office managers during the episode. You've got some office managers there with you as well, right? I do. I'm a little worried about that. But you know, it is what it is.
00;01;13;17 - 00;01;34;16
Unknown
So what breed are the office managers? I have a 13 year old lab. He's kind of losing his mind a little bit, getting old. And then I have I have a niece and. that's awesome. Yeah. When you work from home, they just become spoiled rotten and you know, it is what it is. So my apologies if they change.
00;01;34;16 - 00;01;59;14
Unknown
No, no, no. If they chime in and bark, we're just going to interview them. But I do want to tell you, I know what it's like to have somebody in the office that's a little older and starting to lose it. Speaking of that, Steve, how was Thanksgiving? What when was Thanksgiving About? Yeah, this is our first episode, post Thanksgiving episode.
00;01;59;16 - 00;02;23;04
Unknown
And so, Steve, tell us, what is the definitive turkey recipe that you use? the definitive trigger recipe. I am kind of when it comes to turkeys. Y'all know that I like to smoke meat. I've got my Traeger and I do a lot of that on a regular basis. But Turkey, I go pretty much o natural and I let it base in its own juices.
00;02;23;04 - 00;02;40;22
Unknown
I don't season it. I don't do any of that. The key is to cook it to the to to the right temperature where after it hits 180 degrees, you give it about three more minutes and then you pull it out of the oven, give it 20 minutes to kind of settle that the juices soak back into the meat.
00;02;40;28 - 00;02;57;04
Unknown
Then you're carving it. And it is it is the best. Well, there we go. Now, everybody, you didn't know when you showed up to replace your brain, come to listen today that you'd know how to do a turkey. But now you do. You've heard it from the mastered the grill, the Pitmaster himself, Steve Earle How to do a turkey.
00;02;57;04 - 00;03;18;03
Unknown
Well, thank you for that, Steve. I believe that we are all enriched as a result. Absolutely. Any time anybody wants to come over for for a little demonstration, I'll I'll have a turkey ready to go. Awesome. Now I do a different route. I, I brined a turkey for 24 hours and then I smoked it for nine. But it turned out awesome.
00;03;18;05 - 00;03;44;25
Unknown
And I daresay better than your turkey could be. We ought to have a little turkey kickoff here. I will challenge. that'll be that'll be next year on the Replace Your Income podcast, we'll have the great Turkey challenge of 2024. And I can't believe I'm saying 2020 for it because we are really close to 2024. And now as we conclude this year, 2023, it's been a crazy year.
00;03;44;27 - 00;04;02;01
Unknown
We've seen from a real estate standpoint, we've seen all kinds of things before. We really bring cherry on and we start to talk through her experience. Steve I think it would be really good just to kind of give everybody a little bit of a State of the Union from a standpoint of what we're seeing in the real estate market right now.
00;04;02;01 - 00;04;23;27
Unknown
And we're talking a little bit about this yesterday. But, you know, we love to kind of keep everybody up to speed on what are we seen, what's happening in the market. And we've talked a little bit about this in some of the more recent podcast episodes. But I think the big thing that everybody should probably be aware is that right now we've been telling you for the last, I mean forever, that now is always the right time to buy.
00;04;23;27 - 00;04;50;20
Unknown
And I don't know how much more emphasis and importance we can place on that because we are seen in real time the pendulum truly starting to swing from a seller's market really to a buyer's market. So let's talk a little bit about that, Steve. What are some of the things that that we're seeing both here locally in Utah and then, of course, nationally, that that's indicating to us that we're moving a little bit more or are squarely in the middle of a buyer's market.
00;04;50;22 - 00;05;18;07
Unknown
The market has it's been a really interesting market throughout throughout the year. But in terms of it becoming a buyer's market, you know, that transition really began to take hold about, you know, June, July, and we began seeing the opportunity to really ask for seller concessions on the buy on the buy side, which we haven't been able to do that now for for several years now.
00;05;18;07 - 00;05;43;12
Unknown
It has become part of our every single offer. We're asking concessions all the way from from a price reduction and not just a price reduction, but a price reduction and concessions of 2% that we typically used to put towards buying down the interest rate. So we get kind of a triple whammy going on because of the fact that it's that it is a buyer's market.
00;05;43;12 - 00;06;20;21
Unknown
When a blow asking price offer number to a minimum of 2% in seller paid concessions. And then number three that using those concessions to buy the interest rate down. So so we kind of call it a triple or triple whammy opportunity in this new buyer's market opportunity. I just read an article of an email news that I subscribe to regarding the fact that in today's market, more than 65% of all offers now include a request for seller paid concessions.
00;06;20;24 - 00;06;41;03
Unknown
And so it truly has shifted to a buyer's market and an opportunity to to buy it at a little bit of a discount compared to what we have seen over the last couple of years. So so it's a pretty phenomenal opportunity there. Are there are homes on the market, homes are staying on the market a little bit longer than than typical average days.
00;06;41;03 - 00;07;12;06
Unknown
A market in Utah I just looked at that stat is is close to 45 days. And so whereas before it was like 4.5 seconds that a home, literally a home would stay on the market. So that huge opportunity for buyers in this market, although and the other thing that's been interesting is that interest rates have actually come down just slightly from a high of of for investors of over 8% to about seven and three quarters.
00;07;12;06 - 00;07;38;09
Unknown
You buy that rate down by 1% and we're in the 6.75 range now on you know, on the purchases that our clients are making. So right in that mark where, you know, now all of a sudden, you know, cash flows can actually be, you know, a little bit positive. And and so from that standpoint, the fact that there's more properties, there's less competition and and we're able to buy at those discounted with the seller paid concessions.
00;07;38;12 - 00;07;57;16
Unknown
That's kind of the state of where we're at in terms of of our buyers working the market today. Thanks for sharing that. The other article that I saw forwarded to you, that's just interesting. That's kind of semi-related. You know, I think that people love to look at what are the big names in business or finance doing. And we just saw an article today from Yahoo!
00;07;57;16 - 00;08;25;08
Unknown
Finance that Jeff Bezos is is is doubling down on the influence that he's having on the single family residential investment market. And so that's just another one of those interesting things, right? That's what he's doing. Deb, is buying. Yes. You buy exactly that. The you know, that's where the big money is moving towards is because and they follow that that opportunity.
00;08;25;13 - 00;08;44;05
Unknown
Well, and I think it's just important. Right. As as homes continue to appreciate as well as when interest rates are a little bit higher if homes become less reasonable for the average person to be able to buy, then somebody has to own that supply. And we say it all the time. We want to own supply where demand is high.
00;08;44;05 - 00;09;04;11
Unknown
We always know that demand is not never any higher than it is in single family residential real estate. Three back to back to car garage in awesome sort of neighborhoods and cities with great economic sort of factors. And that is the stuff that we are doing. And so for our clients right now that own and our clients that are continuing to buy now was such an ideal time.
00;09;04;11 - 00;09;33;02
Unknown
Not only do you have everything Steve talked about with it swinging into a buyer's market and some of that opportunity, but just in general, it's where the opportunity is and will likely continue to be for the foreseeable future, especially when it comes to real estate and where there's less competition because it's less affordable for average people sort of buying primary residences, we have an opportunity to take advantage and offer awesome homes to great families and then take advantage of some of the financial benefits of owning real estate.
00;09;33;04 - 00;09;49;27
Unknown
So, yeah, so as always, Steve, we're always pretty, you know, we're always pretty excited about what's happening in the market. I don't think you could show us the market that we wouldn't be excited about. And the other thing that I'm excited about is now we are going to turn to our special guest. We have Sherri McCurdy with us.
00;09;50;02 - 00;10;11;13
Unknown
And Sherri, thank you for letting us sidebar and just talk a little bit about what's going on in the market. We love to use this podcast as a platform, just kind of let people know what's going on. And we love to use this as a platform to be able to interview amazing clients just like you who are really doing this, who are really in the market, who are generating income from real estate, who are going through the ups and the downs of the market.
00;10;11;13 - 00;10;32;29
Unknown
As a real estate owner with Dunphy Real Estate. And so, Sherri, thank you so much for joining us today on the Replace Your Income podcast. Yeah, thank you. I'm gaining some knowledge as I listen to both of you, too. So kind of with the awesome. That's right. That's how that's how I feel every time I'm in a room with Steve, I always discount his intelligence and then he starts to speak and I go, he actually knows what he's talking about.
00;10;32;29 - 00;11;00;11
Unknown
It's really I'm assuming most of our podcast listeners have that experience on a regular basis, probably like, does this guy really? And then he talks and you go, Holy cow, he's really smart, fun fact. So we actually take a lot of our podcast content and we put it out there on social media and some of our best performing social media posts are when Steve is just Steve all over the place talking about real estate and talking about his knowledge.
00;11;00;11 - 00;11;26;06
Unknown
And it's great. People love it because the guy knows the guy knows what he's talking about. And Sherri, so do you, because you have been investing in real estate for a little bit of time here and you've had some experience. So we want to talk a little bit about today. And so I'd love for you to start and just kind of share with us a little bit of your background, kind of what you do professionally and what led you to done for you real estate.
00;11;26;08 - 00;11;53;15
Unknown
I've always been kind of a money watcher in the family started, you know, very young. I've always been involved in accounting and tracking money. I worked a lot of jobs in the accounting profession and then I was a director of a transportation district. I worked there for about 17 years where I tracked to the penny millions, millions of dollars on Bridge Road projects like.
00;11;53;17 - 00;12;16;07
Unknown
So it's always kind of crazy thing, I think. Yeah, I kind of drive our financial advisors crazy and because I do like to have help, I'm definitely not an expert in that. But I have a spreadsheet and I, I track the, the wins and the losses, and when things don't look good, I'm like on the phone, me and my husband, like, we got to have a meeting.
00;12;16;07 - 00;12;34;04
Unknown
What's going on? We're nervous, you know, I've just always kind of been that person. Seems like if I join a club, I end up being the treasurer, You know that It's. It's just maybe I don't have a degree to do it. I just. I went to the school of hard knocks and kind of worked my way through it.
00;12;34;04 - 00;12;58;00
Unknown
So and I think significant to this too is my husband and I, we graduate at a very long time ago. We're both 58 and we came out into the world like young, young and dumb, right? But we bought our first house for $30,000 in Vernal, Utah. scarier. That's amazing. And I say scarier than hell on a podcast.
00;12;58;02 - 00;13;22;15
Unknown
You sure can. And so we've been at it for a long time, and we've seen how property values, no matter what they grow through, the ups and the downs, I mean, they might, you know, but they've done nothing but go up. And we've seen that with our our homes and some personal investments that we've made here in Vernal property.
00;13;22;17 - 00;13;50;06
Unknown
Even our even some of our investments that we've done through our investor, they still invest in property. So it's just always felt like a wise thing to do. That's great. Can I ask you what you're did you buy a home for $30,000? let's see. Let me think about that. Probably 88. 88. And what would you guess? Do you guys still own that home?
00;13;50;10 - 00;14;15;26
Unknown
No, No. But now it would probably sell for 230, $240,000. I mean, it makes it really hard when you go buy a car and, you know, they're like the nicer cars are like $75,000. And you think, we bought our house for $30,000, you know? Yeah. I mean, I probably have to feed on age, but it's hard, you know.
00;14;15;26 - 00;14;48;14
Unknown
But it does when you reflect back on that, you're like, Wow, we've got enough. It's like we bought our we bought our first home in Provo, Utah, for $72,000 in 1996. And that home today is is worth, you know, in the high two hundreds now, you know, is a very small just this nice little brick home and in the older neighborhood and the power of time is there's there are some benefits Kevin to getting over.
00;14;48;20 - 00;15;08;07
Unknown
Yeah. Hey, look, these crow's feet are for naught. I know about getting older. My kids remind me all the time how old they think I am. And so while you have a few years on me, Steve, I am also. Look, when I stand up from sitting on the couch, my knees let me know that I'm not exactly 22 anymore.
00;15;08;07 - 00;15;38;16
Unknown
Okay? But, you know, I didn't buy my first home until 2007, but I bought it in Orem and I and I bought it for right around 200,000. And, you know, it's today it's worth right around half a million, you know. And so even just in that sort of short time frame, you know, you see it. And so whenever we have a conversation like that, what I think is so imperative for people to understand is the earlier you buy, the better you will be.
00;15;38;16 - 00;15;54;23
Unknown
And that to me, that's a blanket statement, right? So the sooner or earlier you buy, the better you'll be. And that means that's why on this podcast, Steve and I say all the time, the best time to invest in real estate was 20 or 30 years ago. The second best time to invest in real estate is today, right?
00;15;54;23 - 00;16;19;25
Unknown
It's just like planting a shade tree. We talk about that all the time for the very reason that there is this multiple layer of time that we know that time is going to exist. No matter what we do. We don't know what effect time is going to have on real estate. But like you alluded to, Sherry, we know that over time that real estate is going to appreciate and if we're able to be patient, we're able to give it time.
00;16;19;28 - 00;16;43;00
Unknown
It becomes this magical thing. And I don't know how often we've said it on the podcast, Steve, but I just want to I just always feel so obligated to reiterate it to anybody listening that if you are still waiting and you were still on the sideline, why you must enter this market. You must enter the fray, you must get off the bench and get into the game.
00;16;43;00 - 00;17;01;11
Unknown
You've got to get to the plate because you are never going to get on base if you don't take the first step and get out of the dugout. And and that's for us, you know, that may be buying a primary residence that may be, you know, partnering with somebody on a property that may be buying your first investment property in a DFI market or even somewhere else.
00;17;01;11 - 00;17;26;28
Unknown
That's not a DFI market that, you know, whatever the case is, we just know that real estate changes financial lives and and you've got to get in as early and as soon as soon as you can. So two questions for you. What's been the most difficult thing about being a real estate investor, number one? And then what has been like the best thing for you about being a real estate investor?
00;17;27;00 - 00;17;44;19
Unknown
Well, and Sherry, before you answer, let me back up. Maybe tell everybody what your portfolio looks like today. So they kind of know, you know, what they what you've purchased, how long you've had the home, sort of what that journey has been. And then if you would kind of, you know, caboose that with what Steve just said that be great.
00;17;44;20 - 00;18;11;25
Unknown
Okay, they get off track you remind me So okay so in 2014, we bought a property I think it's two bedrooms. It's just a small piece of property in Kissimmee. We had a IRA at the time kind of sitting back. My husband had changed jobs and we just had that set back and we used that to purchase the property and rehab.
00;18;11;27 - 00;18;40;20
Unknown
It was scary. You know, we just built a new home. We were kind of tapped out getting into the home, which again has appreciated beyond our imagination. But we bought the house and I look at my notes here in Kissimmee for about $108,000, and we did some rehab on it, put tile in and $115,000 investment and he bought it in an IRA, Right?
00;18;40;25 - 00;18;58;13
Unknown
It was a self-directed IRA. Yes. Yeah. So we did. And it was nice. We had a lot of help with all the rules, all the things that you can and can't do. You know, we've never seen the house. That's kind of crazy. Like, you know, we've seen pictures and, you know, we watched the storms come through and we cross our fingers.
00;18;58;13 - 00;19;23;03
Unknown
Everything's going to be good. But it's kind of odd because we have not physically been to the house and that was a really hard thing for us to kind of wrap our heads around because we like to be involved in things. So we've owned that nine years, right? Well, my last CMA that Denver you did, we're at $292,000.
00;19;23;05 - 00;19;49;09
Unknown
So crazy by far. I know. I wish I would if it's that you know that kind of whatever because I had a change in my my job and walked away from that and so we didn't continue investing. And I kind of kicked myself in the butt for that. But I ran an analysis in my accounting program that the rent that we brought in on this loan, you know, there's expenses against that.
00;19;49;09 - 00;20;21;23
Unknown
But we had brought in $114,000 in just rent alone, which is about our purchase price. So that's amazing. The cash flow has been really good. You know, we had one storm, we replaced the roof. That was great challenges, challenges have been we started off with a management company that was not extremely on top of things. It made it really difficult.
00;20;21;25 - 00;20;47;28
Unknown
You've got to have a good company to work with and that drove me nuts because I'm a hands on kind of person, you know? And we made a change for two years and that's been really good. And having that management company is key because we learned that we don't have to be hands on. We don't have to worry about the leaky toilet.
00;20;48;01 - 00;21;15;15
Unknown
We have a guy that calls to get that fixed for us and it's just taken care of because we have a good management company. They've been fabulous to work for and insurance has been kind of a problem, to be honest. It's an older home. There's a lot of rentals in Florida. We got dropped on our insurance after we had the roof claim and I had to struggle, so I knew insurance was fine.
00;21;15;17 - 00;21;32;19
Unknown
Last a few nights if we took care of that, we had that all taking care of now. Yeah. So one thing I find interesting is so a lot of times, you know, we have clients on our, on our podcast and they, you know, they buy like ten homes or 15 homes and, and they, you know, they have this grand, you know, story.
00;21;32;19 - 00;22;00;12
Unknown
What I really like about this conversation is you purchased one property And let me ask like how has just that one property impacted your lives? Like, what is that like meant to you? And what do you think it will mean to you as you approach retirement years? Well, I think it's by far our best investment. You know, as I told you, I tracked on a spreadsheet.
00;22;00;14 - 00;22;25;29
Unknown
Now we're taking net income, which is around, I think, 14, 1500 dollars a month. And we have very little expense against that. So then we're reinvesting that income. So we're getting the the growth on the House and then we're getting the reinvestment of the income and then we're getting, you know, when we retire, we can either just take, you know, how that works.
00;22;25;29 - 00;22;47;14
Unknown
You either take the rent, you know, or however you want to do it whenever you need it, I guess, kind of thing. I kind of see this as something as we retire that we'll hold on to for a while before we sell, when all the other things start to dwindle because it's going to keep gaining in value. So yeah, I wish I had tend to track, but it's kind of fun to see this one.
00;22;47;16 - 00;23;11;05
Unknown
And we also purchased we invested in a building for a salon and helped my daughter start a salon here in Puerto. And I think I love this one because like I said, you give it to a property manager, you establish a relationship with them. You know, it's taking care of, and that's the one. Those kids are down there every weekend doing maintenance.
00;23;11;07 - 00;23;45;12
Unknown
It's getting value, but it is hard. This property has been so much easier than I thought it was going to be. So you've made back your initial investment just in rent collected, which effectively means that you know, the your the investments been. I always like to think of it like this. So now that the investment has come back as the property continues to grow, as the cash flows continue to come, there's not even a way to calculate theoretically what your return on investment would be right?
00;23;45;12 - 00;24;05;01
Unknown
Because what you've got is you have an asset that I mean, obviously we could run certain calculations in a spreadsheet or on a on a calculator. But the way I always view real estate for me is what if I if I no longer have money sitting in the property, but the property continues to appreciate it, continues to cash flow.
00;24;05;03 - 00;24;25;07
Unknown
That's an infinite return. That's like owning a magical money machine, right? That's like I a book that the book that Steve and I just wrote that we've got coming out here pretty soon. You know, I use an analogy in there of a magical money machine. Like, imagine, you know, somebody gave you one of those machines where you put a dollar in and you know, spits out quarters.
00;24;25;07 - 00;24;55;24
Unknown
Right? It makes change. But imagine if you put a dollar in and then it just never stopped making change. Right? The dollar would be in the machine. But you get that first dollar back. But then that just keeps spitting out quarters over and over and over again. I mean, that would feel like a magical money machine. And in effect, that is precisely what you guys have done with your amazing decisions by owning real estate and this property in particular in Florida, that now you've at least made back what you invested in it.
00;24;55;24 - 00;25;13;00
Unknown
Now, granted, you know, you still got it in the IRA. It's going to continue to grow. You got all the appreciation. You've got all the cash flow and the benefits. It'll continue. But it's like this magical money machine. And really what you did is you bought the right kind of property in the right market at the right time, and then you just wait.
00;25;13;03 - 00;25;36;22
Unknown
You just hang on for the ride. And I love that that what you're talking about. And to Steve's point, I love that you've bought this one property and I know you wish you had ten, but I love that you have this one property. And this one property has been I mean, is it fair to say that this has been a a powerful it had a powerful impact on you and your husband's financial future?
00;25;37;04 - 00;25;59;10
Unknown
absolutely. You know, you set a goal, you work towards it. And I'm trying to hit that that number on the spreadsheet so we can retire. COVID slowed it down. No, we're oil and gas. You know how that goes. Make sure the booms in the bust are pretty, pretty rough. We wrote that out, but this is probably been our most stable.
00;25;59;13 - 00;26;27;01
Unknown
One of the really cool things about this property that we were super nervous about when we made the decision was to put it under, I think they call it Section eight in Florida. So that renter has government government assistance making the rent and we lost a renter. But we're on a list because we're pre-approved for Section eight. So we're never without a renter.
00;26;27;04 - 00;26;47;11
Unknown
And we have we've had this lady for probably four or five years. That's fabulous. Like, I just don't see how we can lose on this. You know, it's a it's in that range where there's such a need there for that rental that I just don't think we can lose on this nine years. You know, let me ask you this question.
00;26;47;11 - 00;27;11;17
Unknown
So I know you know, we always know that we've got people listening that are still they're gun shy or they're just unsure if they're wanting to enter the fray. I'm just curious, what advice would you give to someone whose considering real estate investment? But there may be hesitant to take that that first step. What maybe what cautions would you give them and what advice would you give them?
00;27;11;20 - 00;27;37;22
Unknown
Well, I would say do your homework with who you're working with and talk to other people that have worked with them because, you know, they want somebody that's very credible. You know, there's a lot to it. You have to have your legal taking care of. There's some maintenance on the property, some complicated things as far as registered agents and minutes and different things.
00;27;37;22 - 00;28;05;17
Unknown
If you don't have the ability to do that yourself, then you definitely want to figure that out. I mean, it's it's not just to buy the property and then you're done. There is some responsibility there. But I would say do your homework and, you know, I, I think and you know, you guys are the experts on this that even investing now and and I tried to talk my husband into this.
00;28;05;17 - 00;28;33;23
Unknown
We're getting to the point where we're trying to be conservative. We're almost there to our magic number on the spreadsheet and but even if you invest now and the interest rates are higher, those get passed on to the people that are renting your place. So that all just kind of works itself through. You still have the property value going up and the rents coming in and the investors rent on the rents.
00;28;33;25 - 00;28;57;02
Unknown
And as long as that's managed well, then I can't do that on my own, you know, get help and do your research before you trust people and then just hold on because it really has been amazing. Don't don't put it up. Don't I still wish like I said, I wish my goal was to have three, but it didn't work out.
00;28;57;02 - 00;29;17;14
Unknown
But this one's been it's been really good. that's awesome. Well, that's great, Sherry. I think that is great advice. I appreciate you sharing your story. I appreciate you coming on and letting us talk a little bit about real estate with you and you just kind of share with us what it's been like. I love that you've got this magical money machine in Florida that's just churning out dollars for you.
00;29;17;15 - 00;29;41;25
Unknown
I think it's phenomenal. And I appreciate some of the things that you said. So many of the things that you said here today. Steve, any parting words before we wrap the episode? You know, I just think that this is such a wonderful interview. Again, I kind of go back to, you know, oftentimes in podcast podcasts, you know, the podcasters search for like the the biggest and most successful and the you know, investors.
00;29;41;27 - 00;30;08;29
Unknown
I you really represent our typical client who they may not have ever gotten into real estate, had they not, you know, had our encouragement and expertise and help along the way. And I love that nine years later, you also get to share, you know, your story, which is a very typical story for our clients, which is, you know, I was very tentative when I got started in it.
00;30;09;06 - 00;30;32;07
Unknown
I was nervous. I had my reservations, but I took the leap. And because, you know, you did your research and you could see what the potential, the projections, the opportunity was and you took that leap. And now, you know, nine, almost ten years later, you have such a great story with this one property, such a such an amazing experience.
00;30;32;10 - 00;30;54;08
Unknown
And so for me, it's kind of like this is the epitome of the story of all stories. Well, maybe the point to this is you don't have to buy a huge to profit, you know, and I do think there is some value in diversity of a brother who had everything invested in whole and we all know what happened with coal.
00;30;54;11 - 00;31;27;28
Unknown
And so it's just good to have diversity, you know, property, maybe some stocks just feel comfortable in your investment and know that they're stable, you know, and this has just been a really good investment for us. That's awesome. Well, thank you, Sherry, and and folks for listening. You know what Steve just reiterated, what you just heard from Sherry, What I love so much is we talk all the time about real estate is a function of stacking micro wins rate.
00;31;28;05 - 00;31;54;22
Unknown
It's little win on top of little win. It's not swinging for the fences, it's not knocking it out of the park. It's doing the right things consistently. And then over time it yields fruit. The whole idea of Moneyball real estate or micro wins to millions is make the small effort, stick with it, and those things stack over time and compound into something really amazing and really magical, like the property that you have.
00;31;54;22 - 00;32;21;07
Unknown
Sherry And so I love your story. I love that you're willing to come on and share. Thank you for your time. Thank you for your advice, Steve. Thank you for your words of wisdom. And we hope this has been an enjoyable episode for everybody. We hope that you'll get off the bench, that you'll start stacking micro wins, that you'll get to the plate and just hit a real estate single because it can truly transform so much of your financial reality if you're just willing to take that first step and stick with it.
00;32;21;07 - 00;32;45;00
Unknown
So with that, thank you, everybody, for joining us. Sherry, Thank you for coming on today. Steve, as always, good to be with you. We'll wrap the episode today and we'll talk to you real soon. Thank you. Have a good one.