Better Returns: Invest Like a Pro

13. Navigating the World of Commercial Real Estate with Sam Wilson

January 10, 2023 Sam Wilson Episode 13
Better Returns: Invest Like a Pro
13. Navigating the World of Commercial Real Estate with Sam Wilson
Show Notes Transcript
In this episode, get a peek at unique commercial real estate investment opportunities from expert and enthusiast Sam Wilson. From RV resort parks to fitness center partnerships, Sam has an excellent track record of success and is passionate to help others seek profitable investment opportunities.


  • Sam bought a house, sold it for a profit and has been exploring investments outside of the stock market ever since. 
  • The challenge with investing only in single family homes is they aren't scalable, and if one thing goes wrong you can blow the profits for the entire year.
  • The pandemic caused the outdoor hospitality space to explode which led to an increase in the RV resort market. Sam has currently been focusing on this real estate investment opportunity and highlights all the ways RV resorts can be profitable for investors.
  • Sam would like to be able to serve every demographic and every economic cycle in some meaningful way that produces revenue. Among other things, this has led to successful endeavors in laundry services and the fitness industry.
“My new thing is that health is wealth. If you don't have health you don't have wealth.”

“I'm a cash flow investor. I want to buy something today that produces an income consistently for the foreseeable future.”

Sam is an active and passive investor in nearly every commercial real estate asset class. He is the founder of Bricken Investment Group, a real estate investment firm. Sam focuses now on RV resort investments. He also hosts the popular podcast “How to Scale Commercial Real Estate” with over 700 episodes.

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welcome to better returns where you will learn how to escape the volatility of the stock market by passively investing in real estate like a pro 90 of millionaires earned and maintain their wealth by investing in real estate we will share real-life examples from Savvy investors so you can do the same the show is for educational purposes only should not be considered legal tax or investment advice during a road trip in high school he once slept underneath the van they were driving to keep warm your host and my dad Matt Hansen welcome back to the show I'm happy to have Sam Wilson with us today Sam is an active and passive investor in nearly every commercial real estate asset class he's the founder of bricken Investment Group a real estate investment firm and Sam is now focused on RV Resort Investments he also hosts the wildly successful podcast how to scale commercial real estate with over 700 episodes check it out it's very good actually he had me on a guest in the show not long ago but it is an excellent show and strongly recommend checking it out well welcome Sam tell us a little bit about how you got started in real estate what's your favorite story that's a funny question I tell this when I try to keep it brief I grew up in the trades my family grew up in the trades none of us were we didn't we're in a family that went to school grew up fairly poor uh my brother and I owned a flooring company and we actually grew that through my mid-20s uh into a pretty successful business I sold it when I was 30. but here I am with no education 30 year old male like I have no experience except for working for myself I'm completely unemployable right like and I really don't know what to do next in life because all I've done is the trade so a guy that's owned a flooring company and had 30 guys working for him installing you know residential and Commercial Flooring his whole life suddenly he needed to go find a new career yeah didn't know what to do next so I panicked made a lot of mistakes uh I had time with money on my hands um didn't get into trouble just made some dumb dumb moves short story is one day I was I'd moved to Tennessee with my wife which is where she was from uh head south it's a great place to be and uh was looking at foreclosure listings this is back in 2013 so I was just drinking foreclosure listings and they happen to have a listing and this is they have had a listing a couple hours the auction was two hours away I saw the house it was a mile from my house drove over looked at it it was knee-deep and trash I found a way into it because it was unoccupied don't tell anybody um but I found my way into it and uh walked through it and I was like hey you know from the trades I understood housing I understood kind of the construction process it didn't take me long to kind of back the napkin figure out what's it going to cost to make this place whole again went to the auction actually went home and I said to my wife said hey you mind if I buy a house today we hadn't talked about this before that's all I said you might have a biosity she goes no two hours later I owned a house and we made a pile of money on it right and I said I said well shoot I did it once I'll just keep doing it so there therein was the rest of my career in real estate born uh they're you know drinking coffee one morning I had no plans prior to that of ever getting into real estate uh and they just took off that's all we did for five years was just buy tons and tons of houses at foreclosure auctions and figured that process out and you know we've gone through every iteration since then of you know different asset classes different different types what to buy different strategies rental portfolios I mean I've done the the mix of shiny object syndrome and also just trying different you know methods out uh and that's led us all the way to today where we have our hands in a variety of asset classes uh but really uh on a on an active investor side of things 100 focused on RV resorts here in whatever this is November of 2022. so yeah that's uh that's a short story a long story short that's a great story I mean so you're an entrepreneur you downplay the fact that okay now you're unemployable but the fact is that you've been employed you ran a successful business you sold it and now you've got all those skills that okay are valuable maybe out in the corporate world but in the real world I am very applicable and you've obviously been very successful in doing that for sure you've did a lot of different things you did The Fix and Flip sounds like you did some did you have some um rentals then rental properties my first rental property was because I it was a Fix and Flip gone bad by the wrong the wrong location at the wrong time the wrong price and you're like oh I can't quite make any money on this I guess I'll hold it as a rental I'd never really thought about that uh so yeah I owned rental portfolios and then got into creative financing and lease options and just you know I still got some of those Legacy things in my portfolio they're they're mindless I mean they don't cost money they're just achs into my account because I've sold them all off you know in in Creative structures but yeah it uh I'm cleaning those messes up over the years and those probably won't clean up actually another five or six years but that's okay um so yeah that was it did a bunch of those those sorts of things and then one day just said I've got to get into commercial real estate because I found that single family for me wasn't scalable and most people most people discover that too at some point at some point if you want to hold up oh no 100 single-family homes or a hundred unit apartment so much easier there's no there's no comparison and you can make a little bit more money I think if you own the hundred homes but boy there's so many more things that can go wrong one bad HVAC or a roof replacement you blew the profits for that house for the entire year maybe two years for sure that's the challenge with with doing the single family thing so you've been doing syndications then right so you've done syndications that's correct that's all we do so for what asset classes have you done in syndications for Self Storage Land Land Development uh multi-family RV resorts parking I think that covers it for now my gosh that's a lot yeah but right now your specialty is um in RV Resort investment so explain that I don't really know anybody that's speaking to that so share this is not mobile home parks but RV parks right that's correct that's Enlighten us on that I don't know the market or industry I don't even know anybody that's playing in that so this is great which is why I'm there oh we shouldn't be talking about then right that's a secret don't tell anybody uh no seriously it is it's a it's a great I was doing a building a boat and RV storage facility last year and in so doing my market and that project just I've been opportunistic as you can probably tell a lot of these deals have actually been brought to me it's like hey here's an opportunity you like it it's like yeah I like you and I like the deal I like the market that's fun let's let's go do this uh so was building a boat in RV storage facility that was brought to me last year in so doing my market research I discovered that the RV and RV Resort industry one was on a strong uptick pre-pandemic of course the pandemic just threw gasoline on a fire so you know we already had strong market demand pandemic happens the outdoor Hospitality space explodes uh just to give you and and and while you may hear that and think gosh risk right you say Well it exploded now it's just going to fade back off but it actually hasn't happened that taper off effect just hasn't occurred uh we had 350 000 RV deliveries in 2020 we had 600 000 RV deliveries in 2021 and we're we'll be slightly under that it was projected we'd hit that same number here and 2022 that number's gone down slightly but still think about it you've hit almost 1.2 million new RVs in the marketplace in under 24 calendar months where do they go where do they Park them where do they Park them where do they store them where do they get them serviced where do they get their maintenance done I mean the list goes on and on RV resorts of course are one of the key uh beneficiaries of all of this the uh who was it that came out with that study I can't remember who produced this because earlier this year I read it 60 of RV owners are looking for a newer and bigger RV I'm included in that 60 group also the largest group of RV owners who are they Matt you would have thought well they're North of 60 retired on a National Park tour not so it's Millennials with kids it's the largest group of RV owners in the country I I'm I'm in the I'm not a millennial but I still own an RV and I certainly have kids and it's and it's a beautiful way to travel and we have a blast in it it's like okay I'm I'm not ever gonna not own an RV uh you know probably for the duration uh that said you need a place to park them and need a place to go you know drag the kids out where they can go run and play and have a good time and build a campfire and have all your stuff right there without unpacking and moving into hotels or airbnbs or everything else and it's an inexpensive or a more inexpensive I guess the expensive Parts buying the RV so you got to be able to Affordable but more an expensive way to get out and go have fun for a weekend and then come back home so that said the demand is there and we see that demand um carrying on all I need is 10 good years for an investment thesis to make sense um you know we can't project beyond that I don't look you know to hold something for 20 or 30 years and most of our investments are only five to seven years in length anyway so everything we see right now says look we should have a good five to uh you know I'm sorry you say that everything we see right now so we should have a good 10-year run in the RV Resort business so what is an RV Resort it is a place where you go it's amenity heavy like you're gonna go there's gonna be a water feature like my requirements are it needs to be a place that I generally want to take my family it needs to be a water feature either at a lake or there's a pool or there's both or there's fishing on there or there needs to be activities game rooms pickleball courts tennis courts there needs to be firewood delivery propane sales need to be a camp store there needs to be all these things that make it where you can pull in and then not leave need to be a reason to go there like we bought a resort on the Truman Reservoir in Missouri earlier this year you go to this place there's no reason to ever leave and that's what we want we want to keep you in this little ecosystem of spending money as you come to our Resort where you stay at our RV park then you park your boat in one of our slips and then you buy bait and then you buy fuel for your boat and then you buy propane for your RV and then you pay nine bucks a bundle for firewood and then you go eat at the restaurant we have on site and then your friends come and they stay in the motel that we have on site there's a 40 room Motel there and it's just this big ecosystem that no one has to get outside of unlike an RV park an RV Park's an entirely different deal I'm not sure where you live Matt but my go-to example is like Interstate 70 as it runs across Kansas the flyover states I don't want an RV park in the middle of Kansas because what do you do well you're you're driving from somewhere in the midwest trying to get to the mountains and you need to stay there for one night you need to pull in empty your black and gray water tanks plug in get some water and electricity stay the night and then you keep right down the highway the next day that's a very transactional right it's and it's just not and that's very very um

susceptible to gas prices like yeah for people transact or running back and forth across the country in a gas guzzler that gets eight to ten miles per gallon has decreased well I want to be within a couple hours from a major city so that's when we bought in Missouri is two hours from St Louis it's two hours from Kansas City you've got all these major feeders you know it's an hour from Springfield Missouri which is another major area uh all these feeder uh larger msas dumping into this RV resort area okay cool then people can afford to do that on the weekend anyway I'm prattling on about what a resort is versus Willow Park is hopefully that answers your question in way too many words well no I didn't even realize it so you're talking about a destination RV because in my mind it was a KOA that you know I used to travel as a kid to Florida or whatever with the family and you would stop and you stay there for one night right but what you're you're talking about is a uh uh an experience where it's a destination people come there and they stay for a week or two weeks a week and and you know KOA actually puts out a really nice product um and not all of theirs are just Parks as well they have you know Resorts uh as well KOA does actually a great job uh just as an overall product itself but yes you want them to stay there for a week and going to differentiate this from mobile home parks but yet how it's similar is that a lot of these Resorts have a long-term component to it depends on the ownership group but there are people like the one we bought in Missouri 50 to 60 of that Park is leased on an annual basis what they're doing you don't turn over half of the half of the Lots right now your upside lies in your you know transient three and four day stays right because you're going to get you know 80 bucks 100 bucks a night whatever it is for those days and maybe you're I'm not making up numbers here so just for argument's sake let's say your long-term uh annual lease tenants of a column tenants because they're not tenants but they're let's say that theirs are 600 bucks a month so obviously your per night rate is much higher on your short-term stays but for Park stability and for consistency of revenue's sake you have a long-term tenant I'm gonna use that word again uh but they don't live there you know they they come in just like everybody else they just leave their RV on site so they drive the little Prius back and forth so they're not worried about gas prices but they leave their RV on site they uh it's a it's a better class of tenant because this is a vacation home on wheels for them uh they pay more for the site than what you get out of a mobile home park so it functions like a mobile home park with a lot better economics in a lot better tenant class as well so it's kind of a unique and we're constantly trying to blend or figure out what the right ratio is like okay you know 60 long term forty percent how much do we and that's that's on a park by our Resort by Resort basis that we kind of are trying to figure out that ratio but yeah that's um kind of some of the Dynamics of of what we see in the RV Resort space that's fascinating so you baseliner it kind of it's your kind of your your fixed income if you will of it and then the higher income stuff is the people that come in just for a week or two at a time I had no idea that was a makeup but still think about it if you're inside the ecosystem you still need propane for your boat you still want firewood delivered you still I mean you still need to go to the to the camp store and oh man you know I forgot to get whatever it is you needed for the weekend so you're still there spending money and it's it's kind of like a casino in its own right like they just want to keep you inside the walls you don't it's a win-win you're on vacation you don't have to go off and travel you can you can stay stay right there and get all your supplies and you even if you have a restaurant in a hotel nearby right on the same premise that's genius because you're right there's always people want to visit you while you're camping well here's a place for them to stay and by the way it's it's part of your your business as well so what what percent just roughly are the accessories or the amenities is it like 10 of your income comes from that versus the actual rental of the the lot what's the makeup of that typically I don't know the answer to that it was a ballpark is it a small is it 10 no it's got to be more than that I would like say probably 20 you're talking about ancillary revenue streams yeah exactly that's the term I would say 25 percent I mean because think about it I mean it doesn't take that many loads of firewood at nine bucks a bundle it doesn't take that many booking fees and I know this sounds this sounds small but at three to five bucks per stay for booking fees I mean you start adding all these small things propane sales all that stuff up and all of a sudden it's like wow this becomes a very meaningful number at the end of the day right so do you ever buy I guess it's location specific but if you find uh an RV park can you convert it into a resort do you do that if it's in a good location or do you typically buy one that's kind of already there and you just enhance it what's your business model for that it needs to already be there to have the demand generators that turn it that kind of create it as that Resort feels so it needs to be the destination itself needs to be the resort and or it needs to be near something very close to near something that is the destination so yeah converting it probably isn't a an option what we're seeing is that it's a lot of Legacy owners so you know the the just operational efficiencies just aren't there you know it's a mom and pop owner they've owned it for 20 or 30 years you know they don't have online booking they don't have Dynamic pricing there's just a lot of uh things that we can tweak on that end so we don't have to create something out of nothing started they're already there at the destination so that's you you're just going into the value add what do you do to improve the profitability in its technology what other things you guys do to the property too that's one of the easiest is technology I mean you know putting in putting in uh meters where we can build back utilities you know really oh my gosh that's the best thing about if you're long-term tenants there might be a flat charge of like well okay you know Matt you pulled in with your class A Diesel Pusher and you got three air conditioners that you like to run non-stop so whatever you know maybe it's 100 bucks a month right that they add on for utilities well now we can actually bill it at the meter like or at your pedestal so it's wireless meters that we can install they're only a few hundred bucks a site I mean your payback period's like a year and a half I didn't know that yeah so you can you can integrate all these all this Wireless metering systems so that's an easy one Dynamic pricing is another one you know every part that we've bought this year has a fixed rate per night which makes no sense to me like why would you pay on March 1st the same thing you would pay on July 4th exactly you're slammed like you have no room no capacity you should be it twice or three times the rate so Dynamic pricing adding and dynamic pricing models like Airbnb or the airlines exactly uh online booking I know it sounds it sounds uh cheap but it really is like it's not that hard to add online booking the number we had we bought a park this year you had to email a Hotmail email address to request a site it was Hotmail email one two three four mad at you know whatever hey can I Gotta Wait 48 hours for you to reply to me are you kidding me this is I mean it's worked for them they're busy you know they're making enough money there's no if it ain't broke don't fix it idea but those are small like relatively inexpensive ways that we can meaningfully I mean uh Dynamic pricing alone we estimate brings ten percent to the bottom line wow yeah and so without going through humongous Capital expenditures we can we can meaningfully change the the way a park operates and then speaking of capex I mean here's here's another part of your value add is that you know again for legacy owners and nothing against them they've done some really cool things with some of these cool Parks they just need a new set of owners to kind of bring a new a new set of uh life to it or a new new life to the project um or was it going with that we were talking about oh cap X so when you think about as a mom and pop owner it's like okay well we need to add because we're full for the season let's say that but we need to add 30 or 50 sites well let's say it's 20 grand a site you know on average to put in a new RV pad um well okay well it's 30 sites then that's 600 Grand that's a lot of money to Mom and Pop like well you know we gotta get a bank loan we gotta think about getting that done and then that's just that sounds like work let's just leave it alone every Park we've bought this year we are adding sites to because they're full oh my God and they just haven't done it I mean we bought one part that had uh it already had pre-approved plans like all the plans were permitted and approved they're just like well it's going to cost us a million dollars to do this and that's a lot of money here at the end of our run and we're not sure we want to put that into this I'm like that's a million dollars and you can get an extra 200 Grand a year for putting those in so yeah yeah so it's kind of a it's kind of a compelling uh and the other thing is that the sellers are realistic right now I mean we can are going in cap rates are you know we're buying the one we're closing here in a few weeks is it 15 cap going in yeah I don't know what what is what is average for an RV is that good bad good relative high high singles low doubles I don't want to look at anything right now maybe I'm just greedy or just getting too used to to the blue ocean that we're buying in but anything under a 12 cap for me right now is kind of like eh I don't know and there's reasons for that some of those reasons which is that it's operationally complex right like you gotta you gotta have the systems and the people to sell firewood and propane and bait sales and boat rentals and all the you know nonsense that goes along with it so there's reasons that it trades at a higher cap rate but I think those reasons for me are compelling reasons not discouraging reasons to uh to get into the RV Resort space interesting okay so let's talk about the shows about passive investing what does this look like for a passive investor that wants to come into one of those days what are the returns what's the hold period you know the typical irr give me all the the details what do dealers look like that's that's a good question and I think for consistencies sake for the passive investor it's going to look like a lot of other real estate deals we try to keep them where you know when you look at a deal Matt it's not like oh man this is completely weird compared to what I'm used to seeing so we do we do the the standard five to seven year hold um your cash on cash returns I think are the largest thing that differentiate this from other asset classes in that we in everything we buy are projecting double digit cash on cash returns out of the gate and I think that's something that you're just not going to find in necessarily a multi-family project which we've got plenty of those but you're just not going to find it you're going to find your appreciation I think that's the other the other thing is that because it's it's such a revenue producer uh you but you may not necessarily see the appreciation play like you do in other words okay okay so it's like we're buying this because they're income producers not because someday I can turn around and sell it you know and and just get wild Rich because it appreciated so much I mean it just doesn't trade at the same multiple that others we've already talked about other asset classes do so that said though your cash on cash returns are very healthy uh which means you know again if we start selling these in five to seven years your irr will be very healthy as well I mean you're talking mid-20s on a lot of these deals which again you know if you bought a multi-family project five years ago you easily hit mid-20s on almost anything it's really Dart of the board or a daughter to the multi-family project five years ago and you've you've sold you you've hit your returns um but still even so I think those are the two things that are most important for me as an investor right now I'm a cash flow investor right I want to buy something today that produces an income consistently for the foreseeable future and I think that's um kind of the the short on the nitty-gritty of what uh what we see there is that answer your question yes yes that is that is so tell us I know you you teased me beforehand before we started the recording it's like you've got somebody with the new products are you ready to talk about out those new products that you're gonna be launching soon yeah I do this is my own home cooking so you know it's I've got I've got an investment thesis that I'm actually writing in my newsletter about tomorrow um and it's just kind of been crafted over the years of like I want and so forgive me if I don't articulate it as well as maybe I could I actually was supposed to write this out today because again going up my newsletter tomorrow but I haven't gotten there yet um but it's like three different tiers I want to be able to serve every demographic and every economic cycle in some meaningful way that produces a revenue I mean that's just basic portfolio allocation you know Theory I think is like have everything balanced out to where you know everything's going bad okay you're making money over there everything's going great okay you're making money over here and I kind of got that same idea in business and real estate and I'm kind of blending those so we've got our hands as you know in a lot of different real estate asset classes which those are great of course we're going along in RV resorts I'm really not looking at anything else real estate related that said I also own a laundry facility here in Memphis and you say Okay laundry facility what's that different from the laundromat not much except that we have a gigantic drop-off business so we fully staffed almost 24 hours a day loads of drop off people bring the laundry in for wash dry fold also have a delivery service they're recorded on your on your phone for an app so I've got I've got the demographic that needs a laundromat to do their laundry every week you know we're positioned in an area where that does really well so and that's a very consistent business as if the economy worsens the we call it coin op they'll largely moving to credit up um you know which we're getting away from coins and moving moving more to uh the Loyalty cards and things like that that business will just get better because people can afford to buy more washers they can't you know if something breaks they're they're you know they can't afford to repair it so then they go to using laundromats and so the demographic that needs a laundry mat when times are good needs a laundromat even more when times are bad and I hate to say that because we provide but we provide an amazing product I mean it we're the highest rated boast reviewed laundromat in all of Memphis ordered and something reviews like it's a lot of that has to do with my wife who is kind of the marketing uh Guru behind it that has made a really cool Community Center but I want to replicate that because it serves a demographic in a way that probably isn't used to being served like you go into our laundromat and there's reading rooms for the kids there's libraries all the way through it it's super clean the lights are on all the time you get greeted when you walk in the door we're staffed I mean always staffed so it's it's kind of a cool place to go it's like okay we can replicate this also the returns are sick I mean 30 to 40 percent annual cash on cash returns out of a laundry wow like okay it's a it's it is a a it'll like the RV Resort space business it is Legacy owners it's very it's it's a very fractured you know there's no common ownership Titus started to get into it in a meaningful way which tells you something about it um but I just see that one even just taken off is the economy worsens that business will it'll just it'll just go up so that said uh going long in that space But that one's a cool business because it kind of serves both the the again the demographic that needs a laundromat but it also serves the higher end people you know that want their laundry picked up and neatly folded and put in a little tidy you know you know handy dandy bag and we can you know order it on your app and we'll do your laundry like they deliver food like that's so it kind of we can we can meet both of those in one business there uh so that is the the RV or excuse me the laundromat business that's kind of a fun one we've talked about the RV Resort business which I think will do well maybe not as well as maybe what the laundromat will do but I think it'll still serve its own unique demographic even in a recession because people that own those RVs they're still going to go out and use them just make a different way the third one this is a little out of left field but it serves really probably the upper end and I'm I love I'm big into fitness um I can't believe I'm saying that out loud because it never was big into fitness like it's just not been part of my ethos if you will but about three years ago I got involved with a a fitness facility here I've never been able to go to the gym consistently like it just was my new thing is that health is wealth like if you don't have health you don't have wealth I've known some extremely wealthy people that didn't have their health and I'm like I don't want to be you like you might be might be almost a billionaire but you're completely unhealthy and that's all you got so health is wealth and so there is a franchise brand of Fitness that has perfected I think the team training model which it's got this the coolest coaches the coolest um the coolest culture like you get in and you're like oh like you can bring in a group of people you know like when I got involved I didn't know anything about how to use a barbell or what weights to lift like I don't know anything about this but like you get in and suddenly you're part of this group that's a lot of fun to go work out like I look forward going to the gym and look forward to working out it's it's easy I'll have to think about it my classes are pre-programmed it's on the app it's so it's a really cool franchise I think it's very different than it's a boutique franchise too that's very expensive like I used to think going to to um whatever one of the big box brands like man 40 or 50 bucks a month so I can go to this gym and there's like the Sea of equipment and I walk in and I felt alone and I didn't know what to do I thought that was expensive well now I'm paying 250 bucks a month to go to the gym and I don't air because it's great it's like oh this is this is awesome uh and so there's a higher end demographic that I think in any any environment that will still value their health and will still look for an opportunity to go okay hey we're still going to work out we're still going to prioritize this and so that's kind of the upper end of uh you know the fitness side of things I want to serve that as well so I'm kind of trying to piece all these together and of course I'm doing this a lot through strategic Partnerships uh but piece all this together in a meaningful way that becomes my own investment thesis that says how can I serve every demographic in any economic cycle uh in a meaningful way so that's the sounds like you're doing it it's really good so that the gym really is an experience it's not okay you're going to work out at Planet Fitness it is actually an experience of a camaraderie you've developed a community and that's what people like that's that's exactly it you walk in and we've got coaches there that are extremely knowledgeable I mean they're like hey they will make sure you don't hurt yourself but you can bring somebody in that doesn't know anything about it and put them right next to somebody like me that's now three and a half years in and we both can have a workout in the same exact class and have an awesome experience doing it and you know I'm cheering them on and they're you know watching there's always somebody ahead of you and there's always somebody behind you right so it's it is like you said it's a very Community experience so we actually just uh just signed our first franchise agreement with them and are launching one of those down in Tampa Florida right now so oh wow wow yeah so you're syndicating any of these things

yeah that's probably going to be just within the network of friends that are already at that gym it just doesn't take it's not a big raise and that's also yeah we won't get into all that but that's uh yeah we'll see where that goes if we if that one goes as well as we project uh then yeah we'll probably start uh really syndicating those on a larger basis yeah you get you get your pilot in Tampa done and find out you know what you can put this in and you manage your city that's got the right demographics correct correct right you are a cereal serial entrepreneur is what you are you know that Sam I just call it being a Hungry Man well it's effective it's effective well we're gonna wrap up here but first we're gonna do the lightning round

these are five fun questions just to get to know you a little bit better Sam great okay you ready let's do it number one what was your nickname as a child Sammy D what's the d stand for David middle name oh it's your middle name okay that rolls well are you a morning person or a night owl um I am a morning morning morning person uh my wife has had to get used to if we're leaving early for a road trip I'll get up at 3 3 30 get in the car and just start driving like let's go give me a cup of coffee let's go so yeah you won't find me I am in bed most days by 7 30 at night well you get that early yeah you have to yeah I just I started I can't help it like I don't I haven't set an alarm clock and 15 years no idea I envy you uh number three uh what would be the first thing you do if you won the lottery not tell anyone I would I would go completely silent my friend like nothing would change that's exactly what I would do absolutely I would hire a good I would hire a good attorney and a good CPA that understands the nuances of those laws and say fellas we're going to keep this or or ladies whoever it is I don't care but this is going to stay really really quiet so that's what I would do I love that approach that's pretty good that's really good number four if you could live anywhere in the world where would it be

can I do it by season because I've already gotta go ahead you can give a couple lines I've already got this booked out and it's on my mirror in my bathroom so I it's three places and I'm and I rotate depending on the season so I want to be in East Tennessee in the fall I want to be in Florida in the winter and I want to be in Durango Colorado in the summer and then I pick up the best of each of those seasons that's that's my plan it's already it's already on my mirror on your vision board huh excellent love it love it and then question five this the show is called better return so what's one piece of advice you'd give to new investors to help them get better Returns the one Golden Nugget of any passive investing that you would give spend your time with your sponsor don't worry about the deal spend 80 percent of the time you can learn structure you can learn asset classes you can learn all those unique things but one thing you can never change once you've gotten into a deal is the sponsor so spend your time with your sponsor and really really get to know them well excellent advice because you're married to that individual or team for five to six years at least yeah very good that's outstanding advice Sam and finally how can people find you if they want to learn more about all the great things you're doing and want to get involved potentially reach out to you yeah via the brickett Investment Group go to that's brick and b-r-i-c-k-e-n investment slash join you can join our brick and investor club that way that's it on a Weekly Newsletter where you get updated on everything we're working on that's also where you hear about our upcoming opportunities uh that is the best way to really reach out to me again forward slash join the other thing you can do is have a free download for your listeners if I can plug two things is that okay Matt go right ahead awesome the other thing is a checklist to developed for you as a passive investor so if you are like me and you're starting out and you don't necessarily know what it is you're interested in investing in I would use this checklist as a funnel it'll help you it's called how to vet a deal in 10 minutes so go to brickininvestment forward slash checklist I spent hours and hours and hours reviewing deals that I never invested in because it was the wrong deal for me but I didn't know it because I didn't know what I was looking at this will really help you define your criteria and boil that three hour timeline that I spent looking at way too many deals that weren't the right deal for me down to about 10 minutes it'll help you figure out hey if it's the right deal for you or not so again forward slash checklist outstanding those all that information will be in the show notes as well so well thanks so much for being on the show Sam you're a wealth of knowledge we truly appreciate it thank you Matt appreciate you having me

and that's a wrap really good and that's a wrap thank you for listening to better returns brought to you by Hanson Holdings if you enjoyed this episode please leave a five star review because it helps others discover this valuable content if you would like to earn truly hands-off passive income go to where we help you invest in large apartment complexes to grow your family's wealth see you next week with another awesome episode have a great day