From Rich To Wealthy: Pivoting To Long-Term Wealth Through Passive Investing With Justin Moy

June 28, 2023




CWS 252 | Passive Investing   Just because you are rich doesn’t mean you are wealthy. If you look deeper, wealth goes beyond earning more money. Our guest in this episode is a testament to that. Chris Seveney welcomes Justin Moy from Realm Investors who tells us his background in real estate and how he got started in the industry. Justin shares his early experiences working in commercial real estate and his transition into real estate sales, touching on the challenges he faced and the sacrifices he made in pursuit of financial success. Eventually, he realized that he needed to shift his focus from transactional wealth to building long-term wealth through passive income. Justin takes us across his pivots from multifamily investments and syndication to the short-term rental market. He discusses the advantages of short-term rentals and the operational efficiencies he and his team were able to achieve. Justin also touches on the challenges faced by newcomers in the multifamily market and the importance of timing and education in real estate investment. Tune in to this conversation to gain more valuable insights from Justin’s real estate journey and the decision-making process behind his investment strategies.

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From Rich To Wealthy: Pivoting To Long-Term Wealth Through Passive Investing With Justin Moy

Welcome, everybody. We talk and share our stories of how to create wealth through passive investing. On our shows, we bring on active investors, as well as those who invested passively to share their thoughts, ideas, and lessons learned throughout the investing world and alternative investments outside of the stock market. I have a special guest from Realm Investors. I got Justin Moy. Justin, how are you? Chris, I’m doing fantastic. Thanks so much for having me on. I’m excited to kick this off. As we roll into the show, Justin, why don’t you give us a little background of what you got going on, and a little history of how you got into real estate to get to the point where you’re at now? Real estate has been the pillar of my professional career. When I was seventeen years old, I got my first office job in a commercial real estate company. I hated what I was doing. I was an intern. I was doing a lot of data entry, putting together marketing packages, and assisting the brokers with whatever they needed. I would see the brokers and it was so cool what they were doing. They were closing big deals, they were celebrating a lot. They were in the office, out of the office, going back and forth. I caught that bug. I always knew from my retail jobs that I was pretty good at sales. I was always the number one salesperson in the country for these big chains that I would work at. When I turned eighteen, I decided that I want to get into real estate sales. At that time, I was living in the Bay Area of California. The home prices were seven figures, for almost everything. I was an eighteen-year-old kid and my average home sale was $2.2 million. Was that intimidating? It was a little bit, but I was born and raised there. That’s what I thought houses costs. I didn’t know until a little bit later that you could go to Detroit and buy a home for $40,000. It wasn’t even an option for me. I kickstarted that. What I realized throughout that journey was I was making a lot of money, but I was transactionally rich, and I wasn’t really wealthy. At a young age, you don’t understand the difference between those two. I was working so much and so many hours. I was so stressed out. I realized that I was sacrificing my personal relationships, my physical health, and my mental health. Everything was getting to the back burner. I decided that I have to do something else. I can’t just get one check and go anymore. I have to get residuals. That’s what brought me into looking to be an owner. In the Bay Area, at least when you crunch the numbers on single-family homes, it’s not a great story in terms of cashflow. You have this enormous runway. You have to accumulate tons and tons of homes to get something meaningful. I got a little discouraged there. I ended up moving around the country, finished up college in Arizona, moved to Arizona, and now I’m in Kansas City. I dove into multifamily about 4 or 5 years ago. I got into the syndication space with syndicating multifamily. You know the past couple of years have been hot years for multifamily, so I jumped into a hot market. Now, while we still look at multifamily, we do more of a fund-of-funds model, and we’ve pivoted quite a bit to short-term rentals. Those have been crushing it for us. That has been our main focus for the year. We are still in the residential space. I do still believe in multifamily. I think it’ll be maybe another year or two years until cap rates are what we feel they should be for the product we’re looking at. For now, we’re doing short-term rentals, and those are crushing it. I mean double-digit cashflows, but only 75% of the properties are fund stabilize. They’re crushing it there. We’re going to focus there for probably the rest of the year while we wait for multifamily, which I think will normalize in the next couple of years. A few things popped into my head when you are telling a little bit of your story when you started out. You were doing the paperwork, getting all the paper cuts, and all that work. It reminds me of the movie The Karate Kid, the wax on, wax off, or painting the fence. It’s interesting because everyone jokes about that within the movie, but it’s actually the real-life story of most people. You usually do not start at the top. For a lot of people, when they want to get involved especially in real estate and they don’t have that experience, they’re like, “I want to go do this.” When you start at the bottom and work for people who have already worked their way there, people advance quicker by having that person there. They act as your mentor and you’re getting paid. I know people will go out and pay money for a mentor to learn things. If you went out and got a W2 job and worked for people much higher, that is a valid way to grow and get educated. Too many people undersell that. That is something that people need to consider, especially when they’re starting out in anything. The money was good in that industry, but I got to learn from people who are doing it for 20, 30, or 40 years. That was invaluable. I’ve paid six figures in coaching and education myself for multifamily and investing. While I do believe in paid mentorships and coaching programs, that’s an invaluable way to learn and get paid as well. You’re adding value to them, and then they’re going to pay you. The real payment of you comes from the education that you have while you’re there. That’s what’s going to set you up in the future.
CWS 252 | Passive Investing

Passive Investing: Paid mentorships and coaching programs are an invaluable way to learn. You get paid as well from the education you have.

  One last thing I’ll mention in the education piece is the timing of when you get educated is important. It’s getting educated or paying significant funds upfront when you have zero experience, versus taking a year to educate yourself on things. The amount you’ll learn during that time will be very different because when you start out, you don’t know what you don’t know. Is that the important tidbit that you were supposed to pick up, and you miss these other four? I agree. It’s that you’re unaware consciously of what you’re looking at or what your goals are. That’s when you align yourself with people who have been there and done that. You pick up on these things a lot quicker, whether it’s formally. You pay them or they pay you, and you’re working there. I definitely agree. Let’s roll into multifamily. We can talk about short-term rental. You mentioned multifamily has been hot for the last several years. For people tuning in, everyone can know the stories of what’s going on, interest rates went up significantly over the past two years. I did a LinkedIn post that with the Fed funds rate, I think it’s going to be 5.5 at the end of 2023. Over the next two years, it’s getting back down into the mid-3s on the funds’ rate, which would still keep interest rates much higher than people have been used to over the last decade, which is in the 3% range. I think it will be somewhere in the 5s or whatnot. Explain to us why you made that switch from multifamily to short-term. We were in multifamily for the past few years and things were going pretty well. Interest rates were low because of that, prices were high. They counterbalance each other. We are used to those super-low interest rates, those low 2s, 3s, or 4s. If you look at people who’ve made enormous money in the space over the past 20 or 30 years, they’re used to 6% and 7% rates. These are nothing crazy. It was crazier how low they were, not how high they are now. That was the long-term normal, but it’s how fast it happened that people are getting blown away. We pivoted to the short-term rental space because we saw a lot of our yield getting sucked out of what we wanted. We wanted a mixture of cashflow and appreciation in markets that were growing at a steady rate. When you combine those things, that’s what everybody else wants as well. When COVID happened, multifamily did very well. That has flooded the space with a lot of people who thought, “Multifamily is crushing it even during COVID.” It’s an impervious invincible asset class. That’s not entirely true. We’re starting to see a little bit more of those effects of COVID money drying out now. We’re seeing some of those recessionary pressures in multifamily a little bit later. It flooded the space. I believe that when another zig, you have to zag. If everybody is doing one thing, it’s tough to make a splash in that area. In the short-term rental game, we’ve seen a lot of appreciation. We’ve been able to buy based on comparables but sell based on cap rates. When others zig, you have to zag. If everybody's doing one thing, it's tough to make a splash in that area. Click To Tweet We are projecting double-digit cashflows with that asset class. The short-term rental space has solved a lot of the yield problems. We’ve been able to identify a lot of operational inefficiencies and fix those and balance the portfolio for seasonality. We were seeing the returns in that space versus multifamily. I think we’ll go back to multifamily. We still look at multifamily every day, but it’s impossible to ignore the returns we’re seeing in the short-term rental space. I have multi-family background experience, but our fund is primarily invested in mortgage notes, not the multi-family. As you mentioned, have a niche, and everybody and their brother seem to be getting into multi-family recently. From what we’ve seen, money was very easy to get. People were able to get loans. That brought more people into the multifamily space. When the DSCR ratio starts to go down, LTV starts to creep up, and more people get into space, I see people with less experience get involved in space. You have seen already some of those people already starting to feel the damage or the pain because they got adjustable rates with no caps. The other thing with multifamily that we’ve seen is when your cost of borrowing is greater than the cap rate on it, it makes it very difficult to make the numbers work because the rates went up so high. One thing with real estate that I think people miss the boat on is in today’s world, we’re also focused on things happening instantaneously. If an event happens, the stock market goes up or down or something happens. That’s not the case with real estate. Real estate is like a train trying to slow down. It’s slowing down well in advance, and real estate lags significantly six months to a year to hit some of what’s going on. On the multifamily side, and we’re seeing this on the mortgage note side of things, the bid-ask spread, meaning what a seller is asking for compared to what is everyone else would offer is so wide right now that in many instances makes it more challenging. That’s what we’ve seen in our space, and that’s what I’ve heard in multifamily. Is that what the case is? One thing that you said that’s important is real estate lags, especially compared to things like the stock market. One thing that brought us into alternative assets is you can have a phenomenal robust stock portfolio and wake up tomorrow and it’s gone because Elon Musk tweeted something crazy. He pulled all the confidence out of the market. In real estate, you typically have more time to react. You might be able to project or say, “Maybe this isn’t going where we want. Maybe this project or this asset is not what we hoped.” You have a little bit more time to react versus things that are a little bit more volatile. I think that was important. There’s a big gap between what sellers want and what buyers are willing to pay, at least the experienced buyers. Part of that is also when we pivoted to short-term rentals because we were seeing so much less volume. Over the past two years, we were getting 20 to 25 deals in our inbox every week. There was so much volume. Now we might get 3 or 4 deals a week in our inbox. If people don’t have to sell right now, a lot of times they’re pulling those. They know that historically, rates will drop after they’re raised. If you can hold for the next couple of years, you’ll probably get into a more favorable environment to sell. We’re seeing the volume drop, and buyers now have to account for crazy expenses on their loan side. A lot of times, these asset classes have been pushed quite a bit. The rent growth that people were seeing was not sustainable. You can’t push a class-C renter 10% in rent three years in a row. You can’t do that. A lot of people were buying class-C properties in a class-B neighborhoods. They push and push, and now they’re starting to see that tenant push back a little bit. Now they’re getting a little bit more wary, which they should. That’s healthy for the market and healthy for that tenant base, but they’re getting a little bit of pushback from tenants now, especially in those lower-income housing areas. That’s pulling yield out as well. We’re seeing less volume. Buyers are seeing signs that we can’t keep up the growth that was seen in the past couple of years. We’re getting a little bit less aggressive on what we project as well. On the short-term side, are you investing in specific markets, areas, or types of short-term rentals? I know there are mountain cabins, beachfront, or city living types. I was curious about what you’re investing in. It’s a fund that spans across ten states. One of the biggest downsides of short-term rental investments if you and a couple of buddies are going to buy a house, put furniture in, put a lock box on, and be short-term rental owners, is every market has those seasonalities. With the fund being in ten states, we are able to balance that seasonality. There are the party states. Scottsdale is a big one for us. There are a lot of places in Florida, here in Branson, Missouri, which is another vacation town, the Rocky Mountains up in mountain areas. Business travelers as well in Chicago. We have this big balance of seasonality and also tenant type while maintaining an average daily rate of under about $500 a night. We hit this balance between what makes it affordable for the traveler in relation to a hotel. A lot of times, our average party size is about six. To get six people in a hotel is not as economical as getting one entire Airbnb. You’re willing to pay $400 a night divided among six people or more. It’s balanced a lot for that and it solved that big problem of how we avoid seasonality in our returns, both from a perspective of geography and who will actually be staying here.
CWS 252 | Passive Investing

Passive Investing: We hit this balance between what makes it affordable for the traveler in relation to a hotel.

  How has the short-term rental market been reacting over the last six months? I’m sure during post-COVID, I’ve heard it has gotten the big booms. Short-term rental is not something that we have invested in. It seems like a lot of work for me. I laugh because we earn mortgage notes. My personal portfolio has some rentals and we looked at one time putting one as a short-term rental, and then I realized how much work was involved in that. It’s doing extremely well. On the operations side, one of the operating partners is one of the founders of AirDNA. You have access to all the data and all the searches, and are able to optimize those listings and that marketing throughout. Our properties are seeing 71% more occupancy than the average properties in the markets that they share, with 41% more revenue. There’s this way that you can stand out in that market because most people were thinking about, “We have some rentals. Let’s turn one into a short-term rental.” There’s this enormous space for this institutional size operation in that space. Most of the operators now are mom-and-pop. What we’ve been able to do is build out this enormous team that can handle all that effort that works, and fully integrate it through management, marketing, and acquisitions. It’s a ton of work, but when you’re a passive investor, it almost doesn’t matter. If you’re seeing the return that you want to see, as long as you’re running lean operations teams, and have somebody that can manage it, it doesn’t matter as much to you. It’s a lot more work, but the opportunity in this space is so great because we’re competing with mom-and-pop listings almost exclusively. I’d like to talk a little bit more about your fund. You mentioned short-term. I think you mentioned also the funds-to-funds model that you’re looking at as well. First, is it a 506(c)? Yes, it’s a 506(c), so accredited investors. I want to make sure because if it’s 506(b), I know you got to be careful about that. It is. We typically do have offerings for both. This one so happens to be 506(c). If you’re not quite accredited, it’s still worth reaching out and getting ahold of us. We don’t typically do 506(c)s exclusively. For the fund model, it’s a little bit tougher to do that. The fund is 506(c). What we typically do as well is the fund-to-funds model that you mentioned. We do own and operate the existing multifamily syndications that we have here throughout the Midwest, but what we like is more diversity. What doing a fund-to-fund allows us to do is this. Chris, if you have a multifamily opportunity somewhere that we don’t have a footprint on, let’s say the Carolinas, and we want to diversify in that area, it’s extremely hard for us to go in and be the experts in North Carolina. We don’t know the market. We don’t know the area. We don’t know how we brand things or how we make this better here, but you and your team might. What you’ll say is, “We’re raising $10 million,” and our group will come in and say, “Chris, if we raise $1 million for you, can our raise get a little bit better preferred returns than maybe the retail investor who invests $50,000 directly with you?” We’re bringing one big check. We’re almost bringing 1/10 of the raise. It allows a couple of things. It allows our investors to get access to more preferred returns because they’re now able to be part of one large check and leverage that. It also allows us to put our investors into highly diverse operators whether it’s cross-geographies or cross-asset classes. There are a lot of other asset classes that are interesting to us, but we don’t have the capacity or the desire to go in there and be the experts in that field. It allows for a lot more movement while leveraging other people’s expertise in those asset classes or those geographies. Doing a funds model, I’m sure you probably do see a lot of deals. I’m curious about what percent comes to fruition. For example, with our mortgage note fund, we’ve had people reach out for business purpose loans or buy business purpose loans that are single-family owned by an LLC, but they’ve got certain terms to them. When we look at them, they’re 97% LTV at 9% interest, and they want us to pay the full balance of the loan, and we laugh at them. When you have people approach you and your due diligence process, what percent come across as being legit? This year is the first year we’re doing the fund-to-funds model. We haven’t dove into that yet. The short-term rentals are the first big one that we’re doing. We’re not experts in the short-term rental space, but we partner with people who are. Those are some of the biggest operators in the space nationwide. What we do is we are vetting operators. We got the deals as if they were our own deals. Another benefit to the fund-to-funds model is you almost have that double layer of vetting. Chris, if you have a multifamily deal and we trust you and your team, that’s one layer of vetting. We believe you have done a good amount of due diligence on this, and it’s a property you believe in. We come in and we vetted again as if it’s brand new. We get entirely raw financials. We get everything brand new and then we vet again. On one hand, there’s the operator. That’s going to be the number one. As I tell most passive investors, the operator is the number one where you should be focusing a lot of your due diligence on. We underwrite the deal itself exclusively again. If we have questions, we ask them as if we’re a passive investor too. “What’s the business plan? Why did you underwrite this expense ratio? Why is rent growth projected this? What does CoStar say about this? Do you have those reports on you?” We are running them through the wringer because we are bringing significant checks to these deals. We want to make sure that our investors have confidence that we’ve signed off on the deal but also you and your team have as well. They have two solid operators who have essentially put the green light on this asset. You hit the nail on the head regarding the operator versus a deal. I use the analogy of a pilot flying a plane. I’d much rather have a very experienced pilot flying a plane that they’re comfortable flying, but might not look like it’s the sexiest deal, compared to a brand-new airplane with a pilot who has very little experience. The moment you hit a storm, that could get very catastrophic. We’ve actually started to see some of that in the multifamily space. I’ve been around in real estate since the late-‘90s, to age myself. I’ve seen what happened in the early-2000s with some of the offices, and how that got boomed, then went down, and then from 2008 to 2012. Since that time, real estate has been a very good business to be in. A lot of sins were being hidden by the amount of money the Fed was printing. The deal flow is coming out there now that things have changed or the weather has changed. Unfortunately, some operators who might not be as experienced as people may have thought or they didn’t have the experience, even if it potentially was a good deal, are getting exposed because they don’t know how to manage it. Would you agree with that? Yeah. A big factor in that progression is a lot of these courses that pumped out a lot of syndicators or a lot of fund managers. I went through formal courses myself, so I’m definitely not knocking that. So much of that course is about acquisitions. It’s all about how to find good deals, how to underwrite deals, and how to underwrite 100 deals a week. Once you get all the sales and this sheet turns green, make this offer and make this happen. Once you acquire that deal, what do you do with the asset? “You give it to a property manager. They do everything for you.” That’s not the case. That is the biggest flaw in real estate investor thinking. Part of that is a lot of social media and people glorifying the space. “I buy a property, the manager does everything, then I collect money every month.” If you run it that way, you’re leaving so much money on the table. If you’re taking on investor money and you do that, that’s criminal. You can’t do that. There’s no property manager out there that you can just outsource to let the hands off the rein and say, “They’ve got it taken care of. We’re done.” You have to manage your asset. Before, because deals were flowing so easily and cash was so accessible, acquisition specialists were like unicorns. If you could acquire deals and get good deals, that was invaluable because money was free. Anybody could raise money over the past couple of years. Now is the age of the asset management team. This asset manager was the least sexy position in the past because everybody wants to raise big money and bring big deals. This asset manager now is emerging and is the most important person on the team now because things are getting a little bit shaky. That’s the person who has the most control over how your investment is going to perform. I work for some multifamily operators. Even if they ran everything in-house, you always have an asset management team and a property management team. Property management is the day-to-day people on the property trying to get things. An asset manager still needs to walk the property to make sure they understand what is being done, and whether there is room for improvement on different things, and then get the pulse on what’s going on with the building. You need to upgrade some more units. When you’re running these models, people are like, “I’ll run the model. I’m going to bump up the rent by 10%.” They’ve never done any market study and market analysis. “We’re going to go in and we can turn units in two weeks, and get these updated.” What if it takes six weeks? What has that to do with your absorption rate? Instead of a month to get these rented, it takes two months to get them rented. What if your occupancy goes from 93% down to 89%? All of a sudden, you ask these questions, and people look at you like they have six heads. What I’ve also seen, and you touched upon it a little, is people force the numbers to get the deal to work. A lot of those assumptions are the best-case scenario, which probably only happened 5% or 10% at a time, instead of being realistic in understanding what happens in a sensitivity analysis to see, “If one or something else does happen, how am I impacted by that?” The best-case scenarios were happening. They’re happening over and over again. People are like, “15% rent bumps. If I project 10% next year, that’s pretty conservative. That’s less than what actually happened.” They were seeing that happen and they were thinking historical performance is going to dictate future performance. We found that those got pulled back. In a lot of those models where all the cells are lighting up green, you change a couple of those figures. Now you’ve got some red ones or you’ve got some ones highlight in yellow because they’re not working out, at least not the way that they expected. Cap rates are coming up. I don’t know if many people expected rates to increase this much this quickly. I’m not saying that you needed to be able to see into the future to be a good operator. Most people expected rates to increase, just not this fast. Are you prepared for those things? What happens if rates increase? Are you going to start breaking even? Are you going to start to lose money? If you start to lose money, how long can you float that before the property is in real trouble? That sensitivity analysis is something that was missed a lot. When we’re vetting deals, we’re looking all the way on all spectrums of that sensitivity analysis. What does doomsday look like for this property?
CWS 252 | Passive Investing

Passive Investing: When we’re vetting deals, we’re looking all the way on all spectrums of that sensitivity analysis.

  I tell people to take the two-plus years of COVID and throw all that data away. It’s not an accurate representation of how a normal economy actually works. An example of that is on a forum that I was on, somebody made a comment that they’re buying a $110,000 house. They modeled it with 10% appreciation every year. I said, “How did you get that number? A $110,000 house in today’s world where the median is $400,000 is not going to appreciate 10% per year. If you’re getting 2% or 3% on a house like that, you’re probably fortunate, but 10% is a little lofty.” He’s trying to tell me I’m wrong. I’m like, “Are you telling me in 5 or 6 years, this house is going to be $200,000, whereas 20 years ago, it was only $70,000?” Do you need the market to take you there? How much do you need that mark? If it appreciates 10%, maybe if it’s a $100,000 home, you get $110,000. Is that an enormous jump? Probably not one time to do. If you need that to happen, you’re going to be in big trouble. You’re essentially putting your hands together and praying, “I hope the Fed does this. I hope a new factory opens up close to my house or something comes in to push appreciation.” That’s not planning. That’s hoping. If I’m an investor, I’m not putting my money in a hope. That’s gambling to me. You might win and best of luck to that person. When you’re making investments, that’s not what you want to look at. You want to look at the controllable things that you have. As we wrap up this episode, do you have any unique or crazy story that you could share with anybody? Most people have been in real estate long enough to have a unique one. Whether it’s somebody who rented a short-term rental or a tenant or whatever. I’ll tell you the story of the first properties that we bought. We JV it. We didn’t syndicate our first property. We knew it wasn’t in a great neighborhood, but the price was good. We didn’t feel totally safe there. The last owner had completely left their hands off the reins. They hadn’t been in the property in months or maybe years. They had no idea what was going on. Their leases were fake. Their leases were just templates. You have a lease template that says, “I, tenant name in big bold letters, agreed to whatever.” It would still say the tenant’s name in the lease. They didn’t even replace it. Not a great deal, but the price was right. We knock on the door of one tenant and nobody opens. I said, “Does somebody live here?” It was almost a fully vacant building.” She said, “Yes, somebody should be living here.” She said, “We’ll open it up.” We gave notice. We opened it up and I can’t describe to you the smell that immediately hit everybody. We all looked at each other. I was in the military before. I’m not unfamiliar with awful smells that hit the senses weirdly. We all looked at each other and I thought, “I bet somebody is maybe dead in here. It’s very possible.” The smell was so horrendous you could almost see the air coming out of the building. We start walking in, and I’m looking around. People’s stuff is there. I said, “Somebody does live here. Where is that smell?” We beelined into the bedroom. There’s nobody there. There’s nobody home. Good news for us. We opened the bathroom and somebody goes, “Here’s where the smell is coming from.” I poke my head in and the toilet is 100% filled to the brim and overflowing with what you put in toilets. Almost as if you would use the bathroom for months and months and have never flushed the toilet. You let it build up, pouring over the ground, and everything. We call the tenant and say, “What’s going on with your property? Why is the toilet overflowing?” She goes, “I clogged it. I’ve been forgetting to tell you guys so I’ve been using it. When you’re around, can you please unclog it?” This was the very first property we ever bought. This was maybe the third unit I ever walked into. I thought, “This real estate investing is going to be quite a wild journey.” That was a little bit extreme, but you never know what you’re going to find in these properties when people walk in or how people live. That to me has been the most standout story that I’ve had, especially because it was so early on in my investing career. We have a similar one where we owned a loan on a house and a significant equity in the property. The borrower stopped paying and we couldn’t figure out why. We found out eventually after a very long tedious process that something got backed up, and it was backing up in the basement. The guy did nothing. He never called Roto-Rooter. There were 4 feet of water in the basement. He left the house and all his stuff there. He still has the cats living in the house, and there are molds everywhere. The guy moved next door. He was renting the house next door. I’m like, “You never thought to call somebody to come poke the line or anything or so forth?” You never know how people live. There are a lot of walks of life out there. When you get into this business, you got to be ready to serve different walks of life. You’ll see stuff like that. There are a lot of walks of life out there. When you get into this business, you have to be ready to serve those. Click To Tweet Not everybody lives the way you think you live. That’s my advice to people. Justin, thanks for coming on. How can people reach out to you for more information about what you do or your fund? What’s the best way for them to contact you? One of the best ways to get ahold of me is if you love podcasting or you love passive investing, we have a show called Passive Real Estate Strategies. It’s all about funds, syndications, REITs, due diligence, and everything from a passive investor’s perspective. If you want to learn more about LP and passive investments, I have an eBook called The Definitive Guide to Passive Real Estate Strategies. I would download that at TheDefinitiveGuidebook.com. Once you do that, I’ll send you a personalized email from me with a video in it. It will have all my contact info at the bottom. I love to talk about our fund, your journey, and anything that you have for me. Those are going to be the best places to get my info out. Justin, thanks for coming on. Thank you so much. It’s been awesome. For everybody, thanks for tuning in.  

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About Justin Moy

CWS 252 | Passive InvestingI’ve been in real estate as a career my entire professional life. I started out selling single family. homes. in. the 3rd most competitive market in the country. I was able to become a top producer within my 2nd year at the largest firm in the area. Through that experience, I realized there was a difference between being rich and being wealthy. I started to look for ways to turn my high transactional income into longterm wealth so I could start to buy back my time. When I learned about apartment syndications, everything clicked for me. It provided a significantly quicker time to large financial returns than investing in SFHs, it provided a truly passive form of real estate investing, and it provided the ability to leverage the knowledge and time of industry experts. After I discovered this niche in passive real estate investing fI dove in this both feet now doing everything I can to spread the word about this investing type because I truly believe if all career-driven professionals understood it and knew about it, there isn’t anyone who wouldn’t participate.

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