In the podcast, Kevin and Steve will distinguish Done For You Real Estate (DFY) from other turnkey companies through three key points:
1. **Transparency in Fees and Track Record**: DFY is upfront about how they make money and their fees. Kevin mentions that many turnkey companies are not transparent, often hiding the true costs of their services or how they generate revenue. In contrast, DFY is clear about their fees, disclosing all details, such as their team's fees, mortgage, insurance, and property management. Additionally, DFY shares its transaction reports publicly, outlining every home bought, sold, and rented, ensuring full transparency.
2. **Sustained Success Across Market Cycles**: DFY has been successful across various market cycles, from before the 2008 crash to post-COVID times. Kevin emphasizes that some companies are opportunistic and pop up only during favorable market conditions. However, DFY has continued to adapt and thrive through high inflation, low interest rates, and other fluctuating market conditions. This proven track record shows DFY’s resilience and expertise in long-term, sustainable real estate practices.
3. **Multiple Market Operations with Data-Driven Decisions**: DFY operates in multiple markets across the U.S. based on thorough, data-driven criteria. Many turnkey companies either focus on a single geographic area or expand opportunistically without solid data backing their decisions. DFY, on the other hand, carefully selects markets where their "Moneyball" real estate strategy will work, allowing clients to diversify portfolios across several states, regardless of where they live.
0:00 Speech Therapy
6:14 #1 Fee Transparency
14:26 #2 Proven Success
19:11 #3 Moneyball Real Estate
00;00;02;07 - 00;00;07;03
Kevin
All right. Well hello everybody, and welcome to replace your income with Kevin and Steve.
00;00;07;03 - 00;00;07;29
Steve
How's it going, Kev?
00;00;08;01 - 00;00;20;08
Kevin
Hey, buddy. You know what's weird is this is the second podcast episode where we're wearing almost the same clothes, but pretty much identical clothes as the last episode. Is that weird?
00;00;20;11 - 00;00;22;01
Steve
Except last time, I don't think you had a beard.
00;00;22;01 - 00;00;27;18
Kevin
Oh, okay. Matt. Yeah, maybe it also could be that this is the second episode that we're recording in one sitting.
00;00;27;23 - 00;00;29;01
Steve
Oh, okay.
00;00;29;03 - 00;00;29;15
Kevin
Yeah.
00;00;29;17 - 00;00;32;08
Steve
You did have a beard. Yeah. Sorry. That made me.
00;00;32;11 - 00;00;46;23
Kevin
Maybe that's what it is, but, No, dude, we wanted to get a couple of these in the cab because we got. We have so much cool stuff that's happening right now. And one of the things that I thought would be a good idea if I could speak a bit. My tongue is what happened. I'm. So. Do you know?
00;00;46;23 - 00;00;50;08
Kevin
You know, I have a speech impediment, right? I've told you this.
00;00;50;11 - 00;00;51;09
Steve
I've never noticed.
00;00;51;11 - 00;01;11;00
Kevin
Okay, so, so side note, because I. It just popped up every now and then, it still pops up and I stumble over my words. I accidentally something weird happens in my mouth. Like, I just bit my tongue for no apparent reason. So when I was in third grade, I didn't know I had a speech impediment. I didn't know what that meant.
00;01;11;05 - 00;01;35;25
Kevin
And when I was in third grade, they started to pull me out of class to meet with this other teacher person. And this other teacher person started to teach me how to speak because I had I would I couldn't say my r's. I still to this day, remember how much work I had to put in to be able to say a hard American R like that.
00;01;35;25 - 00;01;58;02
Kevin
Just that right there are, I have to think about it, harder than probably most people have to because I would drop my R's. So I instead of saying, dear, I'd say dear like that, like I didn't. And I also had a lisp so I yeah. So I had a lisp and I couldn't say my r's. And what's crazy is like, I mean it's you hear kids do it and it's just cute, right?
00;01;58;02 - 00;02;18;23
Kevin
It's like, oh little kid. Most kids grow out of it, but some of them do not. And I did not grow out of it. So from third to fourth grade, I got to be pulled out of class all the time. And so it's kind of interesting to me that one of the biggest things that I do is I speak and I podcast and all of this stuff, and so I use this instrument that God gave me all of the time.
00;02;18;25 - 00;02;36;08
Kevin
But, you know, I think sometimes the reason why I'm so fanatic and I emphasize things is because I have my mouth has to work harder to articulate properly. And so I think sometimes the enthusiasm that comes through is because I'm trying to, like, not mess up my words. So yeah.
00;02;36;08 - 00;02;46;13
Steve
No, that's really interesting. I do remember that you have shared that, but not to that extent. I mean, that's that's pretty amazing that you've, you know, taken that challenge and really turned it around.
00;02;46;18 - 00;03;02;16
Kevin
What, what what are the exercises I remember is, she'd bring in these little Dixie cups and she put water in the Dixie cup. And so, you know how, like, those little Dixie. Like, it tastes like paper. I don't know why. I still remember that in it, because it was like water in a Dixie cup in the middle of the school day.
00;03;02;16 - 00;03;08;25
Kevin
Like it felt like a treat. I don't know, like, weird, but. But she'd be in water in a Dixie, and I'd have to sip it.
00;03;08;27 - 00;03;09;13
Steve
Maybe it wasn't.
00;03;09;13 - 00;03;24;08
Kevin
Water and maybe not. And I'd have to hold it in my mouth. Like I'd have to put it behind my tongue, press my tongue to the top of my mouth, and then not let it spill out. And I couldn't do it at first because it was like part of the muscle training for my tongue. But I remember that.
00;03;24;08 - 00;03;35;25
Kevin
The other thing I remember is the taste of those little wooden tongue suppressors, because she used to do all this kind of stuff in my mouth to get my tongue to do the right things. And so Dixie cups in tongue suppressors, buddy.
00;03;35;26 - 00;03;40;12
Steve
That's crazy. That is crazy. What an extreme it is. Like. Okay.
00;03;40;15 - 00;03;58;04
Kevin
Well, that got derailed. So what we're doing today is I have this event that I'm speaking at, I'm speaking at one today and I'm speaking at one tomorrow. Tomorrow we're in San Diego, today we're in Orem. And there's a guy that I'm speaking for. He's a good friend of ours. He's a friend of the program. Friend of the company.
00;03;58;06 - 00;04;19;13
Kevin
Been a friend of my for a long time. His name is Chris Miles. He does awesome stuff in life insurance, has a great podcast that everybody should go check out, and he has a bunch of clients that he does. He calls himself sometimes. He calls himself the anti financial advisor. It's awesome. And he talks a lot about life insurance strategies and kind of the wealth wheel of of how, you know, he's really interesting because he was a millionaire.
00;04;19;16 - 00;04;37;01
Kevin
He lost it all and went negative over $1 million. And then he came back. Right. And so he has these amazing clients. He asked me to come and talk about real estate, because while they do a lot with, life insurance strategies, one of the best things you can team up with life insurance. And we know this is real estate.
00;04;37;01 - 00;04;55;07
Kevin
And so he's like, hey, will you come and talk to my people? And can I buy a bunch of copies of microloans to millions to give to him? So we're giving out books. I'm going to go and speak. And I was thinking about what could I share that would be beneficial? I don't ever like to go into a room and just assume that everybody's going to work with us, right?
00;04;55;07 - 00;05;15;22
Kevin
Because I know we're not a good fit for everybody. I think. I think if somebody sat down and really got to know us, they'd know if they wanted to work with us or maybe somebody else. There's a lot of these sort of like turnkey providers, right, that are that are sort of popularized in, in real estate investment circles and a turnkey provider in general.
00;05;15;24 - 00;05;36;28
Kevin
The definition is like you buy a property, it's already got a tenant in it, and you're just ready to go. Right? It's just it's just piece of cake investing. I don't consider as a turnkey investor because while we do everything for our clients, the reason we call it Moneyball real estate and the Moneyball system is there's a number of things that we do that's different than a traditional turnkey.
00;05;37;00 - 00;06;04;24
Kevin
And and part of the reason for that is over the years, Steve, you know, we have worked with and interacted with a ton of different real estate companies, turnkey providers. And there are a there's four things that I'm going to share today, and I'm going to share them on the podcast. But four things that I've seen. If you are considering working with a turnkey company, whether us or somebody else, these are four of the major considerations you should have before you decide to go with the company.
00;06;04;24 - 00;06;12;10
Kevin
So I thought it'd be kind of fun today for me to just kind of talk through what I'm going to share with this audience and give us a chance to kind of banter back and forth. You ready to roll?
00;06;12;10 - 00;06;12;24
Steve
You got it.
00;06;13;00 - 00;06;40;16
Kevin
All right. Okay. So so consideration number one that I'm going to share with the audience is this is the company that you're considering working with. Are they upfront and transparent about two things. Their fees, how they make money and their track record. Now you've probably seen there's a lot I don't know if you do this too, Steve. Sometimes I like go find out quote unquote competitors.
00;06;40;16 - 00;06;55;23
Kevin
And I try to get into their sales process because I want to see what they are and aren't doing so that we could try to get better as a company. And one of my favorite questions to ask is, how do you guys make money now? Do you want to know? I don't know if. Have you ever had that experience?
00;06;55;23 - 00;06;57;07
Kevin
We've asked one of these companies how they make money.
00;06;57;07 - 00;07;18;15
Steve
Well, it's similar but a different type of company. I recently, bought a truck, oh, from a dealership and went through a similar like they are so nontransparent as to how they make their money and so as like we negotiated for like 45 minutes. And I was just, I don't know what it was like. I was on one.
00;07;18;15 - 00;07;31;19
Steve
And so it was like, I'm, I'm beating these guys up and, and really, I'm sure that they were chuckling in the background and they probably beat me up really well. Right. I thought, I thought I was winning the game, but I probably got hammered.
00;07;31;22 - 00;07;32;19
Kevin
Like this sucker.
00;07;32;24 - 00;07;41;04
Steve
But it's like, you know, I traded in an older vehicle and that was part of why they could negotiate on the price, because I have no idea how much money they're going to make on my my trade in.
00;07;41;04 - 00;07;41;18
Kevin
Yeah. You know.
00;07;41;18 - 00;08;01;00
Steve
Right. Number one, number two, I don't know how much they paid for the truck in order to sell to me. I don't know all of the rebates that they had available. You know, all of these different things that they pull in interest rate if you go through like the, through the, through that particular, you know, make and model of a vehicle and so on.
00;08;01;07 - 00;08;06;23
Steve
So it's like, like the whole experience was so like nontransparent.
00;08;06;23 - 00;08;07;07
Kevin
Yes.
00;08;07;14 - 00;08;16;12
Steve
And, you know, I, I wish that it could have been like if I would have known. It's like, then there's you don't have to negotiate that. You just know what it is.
00;08;16;12 - 00;08;32;25
Kevin
Know what it is. Yeah. And it's so funny because I've had the same experience in buying a car. In fact, I don't know what it is with car guys, but like, they just refuse to tell you how they make money. My nephew, like, runs a dealership and I can't. It's like pulling teeth to try to find out the real economics behind what's happening.
00;08;32;27 - 00;08;58;14
Kevin
And what's interesting is I have talked to a number of turnkey companies as I've been trying to like check out what they're doing, and I love this. The my experience has been when I ask them how they make money, there's an immediate uncomfortable squirm because they don't generally want you to know what they're making, how they're making it, where that money's coming from because they don't want you to understand how much they are making off of you.
00;08;58;22 - 00;09;15;22
Kevin
So, you know, one of the things that I love about what we've done at DFI is we are, like insanely transparent, like it's all outlined, right? It's it's all right there. The way that a lot of these companies are making money is they're doing a couple things. They're either going, there's a lot of turnkey, turnkey companies that are going in.
00;09;15;22 - 00;09;20;02
Kevin
They're purchasing the home ahead of time, and then they are flipping it to their clients. Right.
00;09;20;02 - 00;09;32;07
Steve
And they'll fix it up. Right. So they do all the repairs, whatever needs to be done to it. And then they place the tenant and then they're selling it. That's why it's called turnkey. Yeah. You don't have to do anything. You don't have to fix it up. You don't have to find a tenant. You don't have to buy all those things.
00;09;32;07 - 00;09;48;13
Kevin
Yep. And so they will charge fees in there. They will, add all kinds of margin that you don't know about. You don't know what they paid for it. You could try to do some due diligence and figure it out, but chances are you're not really going to find out what they paid, how much they put in, but they will talk in services.
00;09;48;13 - 00;10;04;16
Kevin
They don't really want you to know how much money they're making. One of the things that I love that we've done at Dunphy Real Estate is we say, look, we're not going to charge anything upfront. And, oh, that's the other thing is you'll find companies that will charge upfront, right? They'll be like, hey, you know, give me this money in order to come and do real estate with us.
00;10;04;23 - 00;10;18;18
Kevin
And and you don't really know what that money's being used for. They're not really going to tell you what that money is being used for, right? They'll kind of make something up. But the reality is, I love what we've done at Dunphy Real Estate, because what we've done is we've said we charge a teams fee. Here's the team, Steve.
00;10;18;18 - 00;10;37;28
Kevin
Right. Here's what the teams fee covers. Here's everything that's been done for you on the team's fee. We on a mortgage company. So we'll make a little bit on the mortgage. You know, we have an insurance company, that we work with. And so we make a little bit on the book, you know, our property management company keeps all of the profits, but they'll sometimes pay us a thank you check when a client gets on onboarded with them.
00;10;37;28 - 00;10;55;06
Kevin
Like, we could just say, here it is. And then everybody knows how real estate transactions work and that there's money in real estate. So I love to be able to say this is precisely how we make money and this is what it is. And I'll tell you what most maybe some of you listening have this experience where there's a little bit of comfort that comes in and you go, oh, okay, cool.
00;10;55;06 - 00;11;11;17
Kevin
Now I get it. I don't think that most Americans don't want others to make money. They just don't want to be screwed. Yeah, yeah, yeah. And so I think that transparency. So it's very hard to find in traditional turnkey companies. The other thing that I think has been hard to find is like an like what's their track record like?
00;11;11;17 - 00;11;34;05
Kevin
How one of the things that we do see as you know, since I think about 2013, 2012, 2013, so at least ten years, we put on our website our transaction report, every single transaction that got purchased, every single home that got sold, what they leased for, like we have that information and we put it into a report and we put it out every year.
00;11;34;06 - 00;11;57;00
Kevin
Sometimes it takes us a while to compile those reports because there's a lot of information, but we put it out there so that you could go and in theory look and see every single transaction that we've done. Now, we don't do we don't publish full addresses, right? We publish partials. I'm sure yeah, I think we, I think there's certain bits of information we pull out just because it's, you know, it's they're owned by private people, but we have it all right there.
00;11;57;04 - 00;12;10;23
Kevin
I don't know, another turnkey or real estate provider that does that. Have you met one? I don't I haven't seen anybody that, you know, there might be a consortium out there somewhere that that does something like that. I don't, I don't know.
00;12;10;24 - 00;12;13;16
Steve
Yeah. There could be. Yeah. You mean a consortium.
00;12;13;17 - 00;12;15;23
Kevin
Oh yeah. Good. Get started. Sorry guys. Inside joke.
00;12;15;26 - 00;12;35;06
Steve
Yeah. So anyways, Yeah. So that's just one of the ways that we try and, you know, provide that transparency and also just information like here's the types of properties that we buy is what the price was when we bought it. Here's how much it cost to do the rehab. This is what the projected rent was versus the actual rent.
00;12;35;13 - 00;12;59;29
Steve
This is how many days on market that we projected. This is how many days there was a market before it actually rented, like those types of things. So we can like we get to, when we do like a property analysis for somebody like those property analysis have improved over the years. Yeah. Because we get to take real data and incorporate it into these projections that we put together.
00;12;59;29 - 00;13;39;13
Steve
Yeah. So it comes from not from just theory but it comes from actual numbers. So when we tell somebody, yeah, on average it takes us 27 days to you know, rent a property. Well that's coming from, you know, years of, of, of data and experience and things like that. And so it's helpful, helpful from that standpoint as well to know that you're working with individuals who you know, aren't fly by night, that they are, you know, they're not just theory like, but they've got a good track record that, you know, and then on top of that, if you have a company that's tracking all that information and willing to share it all, then there's
00;13;39;13 - 00;14;01;09
Steve
a pretty good chance that, you know, they've done okay. Yeah. Like that, that they're going to be here, you know, a year from now. Right. And and that they, you know, actually have the experience that they say that they have. Yeah. And I think that that's a really important one because sometimes, you know, experience can be, you know, inflated a little bit sometimes, you know, when people are sharing all this stuff that they've done.
00;14;01;12 - 00;14;06;12
Steve
And so, I think having that I'll put together one place for somebody to see is pretty powerful.
00;14;06;19 - 00;14;26;28
Kevin
There's some, like, guru types that I'll see. And when they talk about numbers, I just divide by ten, because I know that that's probably the reality. But they've reasoned it through as to why they think it's worth more than that. So that is that is the first consideration. Here is the second consideration. Does this company and you kind of alluded to this, but this is what I'm going to share with the audience today.
00;14;26;29 - 00;14;45;23
Kevin
The next thing you ought to consider is find a company that can show an economy track record of success. And the reason why that's important, Steve, is when we started this thing, it was before the big crash. And then we grew during the crash and then we we continued to grow and do real estate after that. We did it before Covid.
00;14;45;23 - 00;15;02;14
Kevin
We did it during Covid. We've done it post-Covid. We've done it during high inflationary periods. We've done it during low inflationary periods, low interest rates, high interest rates. We did it back when, there were heartbeat loans that were available when you could do no money, no no credit, you know, no income really to be able to go get a loan.
00;15;02;14 - 00;15;32;00
Kevin
We I mean, we've gone through we kind of run the gamut. And the reason why I think that's important is, as you know, there's a lot of companies that'll kind of pop up when there is a certain opportunity. Right. It's like, oh, the market is yielding this thing. Like I think one of the one of the really common ones was when, Airbnbs started to get popular, whether it's Airbnb arbitrage or just Airbnbs, you started to see all these gurus and all these companies start to pop up to say, we're going to teach you how to do a, we're going to go do it for you.
00;15;32;03 - 00;15;49;08
Kevin
And then, you know, you do enough Airbnbs in a certain location and it gets saturated in. The Airbnb doesn't really work. We know single family residential real estate in the right way, in the right market, with the right set of conditions hitting real estate singles. It works no matter where you are. But like, that's one of those things like, oh, let me strike while the iron is hot.
00;15;49;11 - 00;16;16;27
Kevin
When, the whole strategy of BR right by rehab, refi, rent, repeat or whatever it is, all these companies are popping up. This is what we're going to do. And, and you'll see flip companies that'll come and go, you'll see these companies that will be that will they're opportunist and not that that's bad. We want people to have opportunities, but they are not looking to establish a long term, sustainable business as much as they are trying to get in and kind of capitalize on a certain scenario or a situation.
00;16;17;00 - 00;16;17;13
Steve
Get in, get.
00;16;17;13 - 00;16;33;07
Kevin
Out, get in, get out. So the idea of being able to find a company that is doing the same sort of business through every single market cycle and fluctuation is kind of unique. And I know that's one of the things that we take a lot of a lot of pride in.
00;16;33;10 - 00;16;50;11
Steve
Yeah. You know, and that that is one of the things over the years as the market goes through its cycle, we've just figured out now it's like, hey, when the market is here, this is what we do. This is the strategy. When the market is here, here's the strategy, and here's how we modify it and when and so on and so forth, right all the way through the whole market.
00;16;50;13 - 00;17;11;17
Steve
There's ways to get through it. Now, sometimes the market gets really exaggerated, like a few years ago when you know, every single property that our clients purchased was over asking because of all the multiple offers going on. Yeah. Well, in that instance, we didn't have a ready made solution for it. So we had to come up with here's how we navigate this.
00;17;11;17 - 00;17;22;01
Steve
And we're and so we figured that out, got what their clients taught them and then moved forward. And they continued to succeed in all the properties that they bought then have done extremely well, you know, since.
00;17;22;04 - 00;17;41;16
Kevin
Well, what's so what's so cool about just I love that that's our approach, right. It's like because we know we have enough of a track record that it's like, oh, look, this real estate's going to work. But how do we make it work in this sort of scenario? What sorts of things do we need to emphasize we because that it because we do.
00;17;41;16 - 00;17;58;26
Kevin
We have to adapt. Right. And you and you grow as you go through that. And I, I love that, you know, one of my favorite things that we one of my favorite sections that we wrote in the book was we in one of the chapters we talk about. So, so like during this type of market, situation, this is what we did during this type of market situation.
00;17;58;26 - 00;18;15;22
Kevin
This is what we did. And the reason we put that in the book. We just wanted to illustrate that real estate always works and the right time to buy is always now. Actually was 20 years ago. Second best time is now. But, and we wanted to demonstrate, like, look, no matter what the scenario is, no matter what the market's giving you, there's a reason to go do real estate.
00;18;15;28 - 00;18;49;12
Kevin
And so I think it's important that you've got a company that has that perspective and can kind of see all of those cycles. That's a second consideration. To move to the third. Let's do it. The third consideration I'm going to share with everybody today, is you need to find a company that operates in multiple markets, simultaneous Lee, and has a data driven, explainable reason as to why they are in those markets and why I think that's important is you look at a lot of turkeys and there's turkeys that are super geographical, right?
00;18;49;12 - 00;19;11;00
Kevin
They only do real estate in Detroit. They only do real estate in Saint Louis. They only do real estate in XYZ fill in the blank. Right. And that's great. Awesome. They know their market. Fantastic. If you want to be their client, that means you can only buy in that market. And then you've got to go find another turnkey provider that's going to maybe take you somewhere else to maybe diversify the portfolio or whatever.
00;19;11;02 - 00;19;37;24
Kevin
So then you're working with multiple companies. The other side of that is some of these larger investment turnkey firms. They are in multiple markets, but again, they are in multiple markets because of opportunity, more than because of data driven reasons. And one of them, again, we put this in the book. One of my favorite things that we talk about is we have a very defined set of criteria that we are judging our properties in our markets against all of the time.
00;19;37;24 - 00;19;55;21
Kevin
Right. There's criteria that we're judging the properties against every time that we do the property analysis. And when we're looking at a new market, we're not just hearing that everybody could be doing a bunch of real estate there. We may hear, oh, that sounds like a great market, but then we're going to go in and we're going to do the research and find out, is this a place where Moneyball real estate is going to work?
00;19;55;24 - 00;20;14;14
Kevin
And, like, as if we were opportunistic, then it would be easy to go to, like, a high ticket market, right? And just go. We could find a way to sort of explain to everybody why they should be buying this really high ticket real estate. And in the back of our minds, we're going, dang, if we could do that loan and if we can close that deal, we're making more money on one home as opposed to making less money on doing multiple properties.
00;20;14;14 - 00;20;33;08
Kevin
Right? So we don't look at it that way. We look at it as we want to be operating in multiple markets so that you can live in Alaska. Working with our company here in Utah, owning a home in Texas, a home in Oklahoma, a home in Florida, and a home in Indianapolis. In Memphis. And you can stay in Alaska, right?
00;20;33;13 - 00;20;55;24
Kevin
So we want to be able to give people the opportunity to work in multiple markets, but under one umbrella, as opposed to only being specific to one geographic area or, you know, being in multiple markets, but only because the opportunity for the company to make money is good. It's not so much about you as the client going to that market to have a good opportunity.
00;20;55;24 - 00;20;56;14
Kevin
Anything I want to add?
00;20;56;20 - 00;21;21;07
Steve
Yeah, I mean, and that's one of the things as well, is that if you want to be in multiple markets, you know, there's not very many companies who have the ability, who have the who have the same system, the same strategy, the same set of processes, and the same people who are orchestrating it all in multiple markets. You got to go to this particular city and utilize their strategy and their system and their philosophy for investing.
00;21;21;07 - 00;21;47;28
Steve
And then if you want to go to this market over here, they've got a slightly different philosophy. They got a slightly different way of doing things. And and so you're working with different individuals in all the different markets as opposed to having like one centralized, you know, group of individuals who have a footprint in all of these markets, inter applying the same principles and strategies and systems and processes and data capturing all of these different things, in, in the multiple markets.
00;21;47;28 - 00;21;52;28
Steve
So it really just simplifies things for the investor exponentially.
00;21;52;28 - 00;22;06;08
Kevin
Yeah. It's like the investor, we tried to make it so that the investor can walk through one door and have access to all of those things, exactly as opposed to having to go find a bunch of different people and walk through a bunch of different doors. And so, yeah, I really I really like that. Okay. Then let's move on to number four.
00;22;06;08 - 00;22;21;16
Kevin
This one is so important, Steve. And and I'll be honest, I don't think that we were always good at this one. But now as I look at or somebody wants me to. Yeah, I get hit up all the time by friends and family, like, because they know I'm in real estate. They'll be like, hey, what about so-and-so? Or what about so-and-so?
00;22;21;18 - 00;22;37;02
Kevin
My second thing that I always want to say is, why are you looking at so-and-so? I'm right here, but I still love to help people do whatever research they can. Because, again, I know that we're not going to be a good fit for everybody. And so, this is a big one that I'm going to talk about today at the event.
00;22;37;02 - 00;23;09;05
Kevin
And, and, that I think is a big difference between most turnkey companies and what we've tried to develop here at Dunphy Real Estate. So the fourth consideration that I'm going to share with this audience today is you need to find a company who picks up the phone after the transaction is complete. And the reason why that's important is look for us, the entire success of everything that we're doing is totally dependent on our clients doing more real estate and then having a good enough experience that they tell friends and family, right?
00;23;09;12 - 00;23;26;08
Kevin
Which means that we can't conclude the relationship once the transaction is complete. But there are a bunch of turnkey providers and real estate companies who will bend over backwards to get you to buy a home, and then as soon as that home is purchased are like, please don't call me again unless you want to buy another one right?
00;23;26;12 - 00;23;41;23
Kevin
Because they don't want to deal with the headaches. They don't want to deal with the frustrations. It's your home. You we we put a tenant in it for you. You deal with the property manager. And I don't want to have any, in any, you know, interaction with you. On the other hand, what we've tried to do is, yes, it's your home.
00;23;41;23 - 00;23;59;27
Kevin
Yes. You're going to interact with the property manager, but we have a whole team of people that are doing a number of things on a regular basis. We have Mike that's doing deep dives with our clients on a regular basis. That's going through the bar, bye bye bye, borrow and die strategy, kind of showing them a long term plan for their real estate.
00;23;59;27 - 00;24;17;19
Kevin
We have Adam and a whole team that's doing research on these game plan reviews, where we're having our clients come in every year, review everything that's taking place, take a look at what's going to happen next. If there's something that comes up on a property, if there's an issue, we try to assist and serve however we can. Real estate is going to have bumps and bruises.
00;24;17;19 - 00;24;34;07
Kevin
Real estate is real estate is still going to be difficult. It doesn't mean everything is going to be smooth, perfect and wonderful. But we don't lead. We try really hard to not leave our clients out in the dust. This was so cool. We did our intensive recently and we had people in that room that have been working with us for over ten years.
00;24;34;09 - 00;24;38;01
Steve
Yeah, that that was fun to see. All of those individuals.
00;24;38;02 - 00;24;57;02
Kevin
People that we built relationships with who, who some of you might be listening, who we pick up the phone when they reach out because they're important to us. And that is so rare. I don't know if you've seen the same thing that is so rare in the real estate investment company world that they will love you until you buy, and then they don't.
00;24;57;02 - 00;25;02;05
Kevin
They'll ignore you until you buy again. And and we try to do something very different than that.
00;25;02;06 - 00;25;19;10
Steve
That's been a big part of like just our whole philosophy. I mean, we don't like when we start a conversation with somebody, we're not like, hey, we're going to help you buy a property. It's like, no, we're going to build a ten property portfolio, which means we're going to stay in contact with you. Like after you purchase it, we're going to help you optimize it.
00;25;19;10 - 00;25;35;17
Steve
We're going to be doing these game plan reviews. If you have problems, give us a call. We want to be in the middle of that, in the thick of it with you, so that as you go through these bumps and bruises of real estate, because we know they're coming and we know that you're not an investor per se, but you're somebody who knows you need to own real estate.
00;25;35;22 - 00;25;54;23
Steve
You want to be that type of investor, like, we need to be there with you. That's that's our job. That's that's a big part of the team fee. A lot of people think, well, the team is just to help me, like help. Help is so you guys can help me find a property, say no. Like, that's the. That's the least of it.
00;25;54;23 - 00;26;22;25
Steve
Yeah. It's so that we can employ all of these people long term. So they're there for you through like. Like there's we are there. The team fee is active for you for as long as you own that property. Yeah. That's the beauty of it. And that's the power of it really. And and that's what facilitates our ability to provide that kind of service, which, you know, our clients have come to, you know, rely on and expect.
00;26;22;28 - 00;26;44;23
Kevin
Yeah, 100%, you know, it it's it's something that I think we'll continue to try to get better at and continue to improve because it's so important. And what you said, I think is so critical, which is if you're working with, you know, we could throw this as, as sort of an asterisk to, to consideration. Number four, work with the company that will pick up the phone after you complete the transaction.
00;26;44;26 - 00;27;09;12
Kevin
You could also say work with a company that is long term good for you based as opposed to transaction based. Right. Like if somebody is only worried about closing or completing a transaction and not looking at what role that property's going to play for you in the short term and in the long term, and for your loved ones and what's going to happen 20 years from now with that, so on and so forth.
00;27;09;20 - 00;27;28;09
Kevin
You know, it is. You could be a little bit you might find yourself feeling a little bit myopic with your real estate portfolio. And if you're working with a company that's not picking up the phone, you're then going to feel like you are walking through this, this lonely world of real estate investing. And, that's not pleasant, right?
00;27;28;09 - 00;27;49;21
Kevin
You want to have people in your corner. And that's one of the things we tried to develop. So those are the anything else do you think I should share with the group today? Those are the four main things that I, as I was thinking about what separates us from typical turnkey providers, but also how could I deliver that in a form of content where if somebody isn't going to work with us, they would still have good stuff that they could use as a consideration, as are evaluating companies.
00;27;49;21 - 00;27;52;14
Kevin
Is there anything else that you would add to that list?
00;27;52;16 - 00;28;13;24
Steve
Yeah, I mean, there's there's probably a myriad of other things, but those are those major points. If somebody will will take a close look at those major, you know, components of how do I choose a turnkey provider, how do I choose who I'm going to have help me build my portfolio? Those are those are great litmus tests.
00;28;13;24 - 00;28;25;15
Kevin
Yeah. That's a that was kind of what I was trying to do is how do I make it? How do I explain it in a simple way? Just give them four things, 4 or 5 things and say, hey, you know what, take your notes now as you as you go on and do your research, I wish you well.
00;28;25;18 - 00;28;27;08
Kevin
Here's the things you ought to consider. That's a.
00;28;27;08 - 00;28;27;24
Steve
Great talk.
00;28;27;24 - 00;28;35;23
Kevin
What you're going to find at the end of the day is there's probably really only like one company that does all these things. And what are they called again? Oh, yeah. Done for you. Real estate at least. Hopefully.
00;28;35;24 - 00;28;43;15
Steve
Right now. That's great. I think that that that that's that's the makings of a great, speech. So good luck on your time.
00;28;43;18 - 00;28;48;20
Kevin
Thank you. Let's hope that, I don't that my speech impediment doesn't once again rears its ugly head.
00;28;48;25 - 00;28;52;06
Steve
As it does. If it does just break into dance.
00;28;52;06 - 00;28;59;07
Kevin
Yeah, yeah, either that or just pretend I'm rapping very rapidly. Yes, yes. Okay. Dance and rap. There's my fall.
00;28;59;07 - 00;29;01;16
Steve
Back. Dance and rap where you get tongue tied.
00;29;01;18 - 00;29;09;15
Kevin
Oh, if all else fails, I will dance and rap. Okay, that sounds good. All right, everybody, thank you so much for joining the replace your income podcast. We'll see you real soon.
00;29;09;19 - 00;29;12;26
Steve
Have a good one. And.