5 • 683 Ratings
🗓️ 10 December 2024
⏱️ 44 minutes
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0:00.0 | What up, Mr. Hicks? Brandon Hicks. Welcome to Action Academy podcast, long time coming. |
0:05.8 | You are an Action Academy member number one. That's right. What's up, dude? Yep. Not much. |
0:10.4 | Thanks for having me. Man, we'll start with where you're at today. Where are we today with storage? |
0:16.4 | Yeah, so I'd say three years ago, no storage at all. Today, it's just under $10 million across four properties, about 600 units, something like that. |
0:26.2 | So we've gone up to about $10 million in assets under management in the last three years. |
0:31.5 | Nice. |
0:32.0 | And does that include the $2 million that you just got under contract on or is that additional? |
0:36.2 | No, so that would be additional so |
0:37.8 | we did just get an accepted offer on a two and a half million dollar property as well all right now |
0:43.3 | was this always popping off like this or were there was there some changes that were made to |
0:49.7 | increase this deal flow lead flow because i feel like right now in the commercial space everybody |
0:53.5 | is just struggling to find deals no so it's definitely has not been this the deal flow has not |
1:00.0 | been as strong as it is right now I closed on my first deal I know we want to talk about this the wholesale |
1:04.3 | deal I closed in September of 2022 and that's right when I was about to leave my job and I thought |
1:09.6 | once I get all my time back from my W2 now I I'm just going to start closing deal every quarter. Maybe I can get up to a deal every month. And then I didn't find a single deal for, I think I got an accepted offer maybe one year later. And then I finally closed on two. It ended up being 16 months between deals. So I went all of 2023. I left my job thinking, |
1:28.7 | okay, I'm going to crush it. I've got 40 hours a week back. And then I had to sit through that, |
1:33.1 | right? Deal after deal, I think we underwrote maybe four or five hundred deals and couldn't get |
1:37.9 | anything to really pencil. I just switched my direction a little bit into in-house management, |
1:42.3 | which allowed me be a little bit more competitive than my offers. That helped me to land a couple of deals that I closed on this year, |
1:49.3 | actually when we were in Cabo for our Action Academy event. Yeah, every single time that you and I |
1:53.9 | travel together, you and I just left Canada. And every single time that we're together internationally, |
1:58.5 | Cabo and Canada, you close on like millions of dollars |
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