Hi my name is Rod Khleif and I’m the host
of the “Lifetime Cashflow through Real Estate
Investing Podcast” and every week I interview
Multifamily Rockstars. We talk about how they
built incredible wealth for themselves and
their families through multifamily properties.
So hit the like and subscribe button and get
notified every Monday when a new episode comes
out. Let's get to it.
Rod: Welcome to another edition of How to
Build Lifetime Cashflow through Real Estate
Investing. I’m Rod Khleif and I am thrilled
you're here. And we're going to have a lot
of fun today because we have Mauricio Rauld
back on the show and if you don't know Mauricio,
Mauricio is an sec attorney and the topic
today is keeping your butt out of jail. So
we're having a lot of fun with this today
and welcome back brother. Good to see you.
Mauricio: Always good to be back and talking
to you Rod
Rod: All right thank you. So let's talk about,
because I know you just did a book on this
right? So what's the title of the book?
Mauricio: It's an e-book. I don't want to
get too carried away but Five Things every
Syndicator Must Know to Stay out of Jail
Rod: Okay it sounds, and you know that sounds
a little bit important so let's get into it.
So tell us what's in the book. Tell us, start
talking about some of these things
Mauricio: Yeah I mean I basically you know
I've been doing this for a long time so this
was kind of the five things that I was seeing
out there that people were just continuously
doing wrong without really knowing it. And
I know that tile's a little you know a little
bit out there but, and I thought about changing
it to be honest with you, I thought yeah maybe
that's a little over the top because look
the reality is, unless you're defrauding your
investors right unless you're burning made
off and you're intentionally doing harm to
them, you're probably not going to be going
to jail like it's certainly possible but that's
really not what it's there for and so I thought
about changing the title but look, what I
really wanted to emphasize was when you violate
these rules, these securities rules, that's
a big deal you know even if you don't go to
jail, you know you're committing a felony,
you could go bankrupt, you've got to return
all the investor’s money with interest which
you probably don't have. So I really wanted
to emphasize that these are a lot of people
just take these rules kind of like yeah whatever,
everybody's doing this and it's really serious
business and so that's kind of why I stuck
with the
Rod: Well listen, I happen to personally know
a couple of guys and heard through the grapevine
that you know they're being looked at right
now by the SEC for some of this stuff. So
listen, that is a door knock you do not want,
the SEC. So you know what are some of the
things you're seeing Mauricio?
Mauricio: Well let's see. The first thing
that that comes to mind which happens all
the time is people either don't realize they're
selling securities especially if you're a
first-timer or along those lines really maybe
the worst one is people know they're selling
securities but they try and get cute and they
try and structure it in such a way that they
believe is not a security. And the most famous
one that you and I have talked to quite a
bit in your presentation seminars is sort
of the joint venture thing right. Hey let
me structure this as a joint venture because
then it's not a security and I don't have
to worry about it or maybe I'll do a profit
sharing agreement a handshake on the side
and I'll give them money that way and somehow
they think that that gets them outside of
the securities laws. And it's not just syndicators
Rod. I actually, I've been talking a lot with
lawyers so it's not like it's something that
everybody should know. Lawyers who don't practice
this don't know this either and so they're
advising their clients sometimes let's just
put an operating agreement together. Let's
put this thing together and luckily they get
advised that hey you may want to check with
the securities lawyers because this is actually
putting together syndication. So that's probably
the first one that I like to start with because
that happens all the time
Rod: Well let's drill down on that. Let's
drill down on that you know and I tell the
story of my events that you know I bought
a lot of property in my 20s like millions
of dollars with the property 50-50 with partners.
They put the money, I did a lot of the boots
on the ground stuff. But they were involved
because they signed on the debt and if I spent
more than a certain amount of money, I had
to get their written approval. So they were
actively involved and that might be right
on the edge of it but if they sign on the
debt they're active for sure
Mauricio: I think if they sign on the debt
for sure and with two people the easy way,
because you're right the key is to make them
active like everybody needs to be actively
participating. The key on a security is when
you're doing all the work when the returns
are being generated by your hard work and
your efforts, that's when it becomes a security.
So as long as everybody signs on the debt
that's a good one. If there's two people just
make each other a co-manager meaning everybody
both has to make decisions and actually right,
you don't actually really have to be involved
in the day-to-day operations but all of the
important decisions make sure there's a vote
right. Now if you're 50-50, then it's just
a 50-50 vote. If you want to buy the property,
sell the property, hire a property manager,
refinance, I mean these are obvious big decisions
Rod: And that was all in my, back then it
was uh it was uh limited partnership agreements
and we were both GPs as it were. We had entities
that were GPs I recall. I don't even remember
it's been so long now. But yeah okay
Mauricio: Painting yourself Rod
Rod: Yeah right I know trust me I know this
before they could spell LLC I know. The pterodactyls
were still flying in the sky right
Mauricio: All right yeah so that's a big one
and the other one that I’m still working
on doing, you and I talked about this the
last time too, promissory notes. For some
reason, people think that hey I’m gonna
do a note and somehow I completely remove
myself from the world of securities laws.
That's also a misnomer and notes of their
own animal. They have actually a different
analysis which is why I want to really do
a deep dive but just because you do a note
instead of selling equity in your LLC or you
know membership interest doesn't get you around
the securities laws. So that's the big one
because people are then out there, remember
the rule from our I don't want to repeat what
we did uh in episode
Rod: It's okay it's okay to be a little bit
redundant
Mauricio: Episode 353
Rod: Okay here we go
Mauricio: Remember when you're selling security,
you've got to register the security, find
the exemption or it's illegal. And so if you
don't realize you're selling securities then
you're obviously not going to register it
and you're not paying attention to any exemptions.
So then you're stuck with an illegal offering.
You're selling security without registering
or finding exemptions and that's the problem
if the deal goes south. That's the problem
you're gonna find
Rod: Right right and you know guys, you've
heard me say it. The proverbial stuff is gonna
hit the fan here and it's coming and so you
know I had the economist Harry Dent speak
to my mastermind a couple of weeks ago and
you know he just reaffirmed, that's his stick,
is he's been you know he predicted ’08-’09.
Had I listened to him 23 years ago, I wouldn't
have lost 50 million bucks and that's why
I was excited to get him to speak to my mastermind.
But he says it's coming. It's going to probably
last till 2023 but it's going to be ugly.
And so these deals some of these deals are
going to go south. And I’m going to tell
you when that happens, governmental agencies
make examples of people. Now that's the worst
that could possibly happen to you because
then you're in the news and everything else
and then you know then there's a more of a
push to really slap you. So yeah that's a
bad day
Mauricio: And we talked about that in the
last show but we talked about it's all going
to go south when things start to go down.
But as you mentioned there's a couple of SEC
investigations going on now like before you
know what hit the fan. So I can only imagine
what it's going to look like when investors
because that's when it starts right when investors
start losing money,
Rod: That’s a complaint driven yeah
Mauricio: Yeah and maybe let's talk about
that you know they pick up the phone they
complain and then the first thing the regulator,
if it's a state regulator or the SEC. They
open up an investigation. They open up a file,
they do an audit, they request all the docs,
all the information, and that's when they
start figuring things out and there's somebody
in there doing their investigation. That's
when all this thing starts coming out
Rod: Right. So we talked about a joint venture
and how everyone needs to be active. I want
to drill down just a little bit more on the
loan. So if someone goes to someone and like
hard equity and says, hey loan me the money
to do this deal. At what point does it become
a syndication?
Mauricio: If you're doing, if it's one note,
that's not fractionalized, so that once you
get into a fractionalized note that's another
whole area as well. But if it's one note and
it's secured by real estate
Rod: Yes
Mauricio: And it's truly secured. There's
enough equity where if you don't pay the loan,
I essentially take back that property so I’m
kind of covered then you're falling within
one of those exemptions or
Rod: Oh good okay so hard money in this case
doesn't apply if it's based on the equity
okay it's where, where it applies is if you're
throwing a note at it but it's not secured
by the real estate or there's not enough equity
to account for it in the real estate. Got
it
Mauricio: You're in third position or you're
like, you're underwater, what have you so
okay if it's a note that's secured by a mortgage,
you're in good shape. But once you fractionalize
it, then it becomes an investment contract.
So you definitely don't want to fractionalize
it
Rod: So when you say fractionalize it, where
you take a note and let's say it's a million
dollars and you allow 10 people to come in
for a hundred thousand a piece and pay them
a return
Mauricio: That's right. That's going to be
it. Hands down. It's going to be a security.
Rod: No question.
Mauricio: The other thing that I want people
to be aware of again without fractionalizing
but another common situation when people are
flipping deals right they go in, they buy
the house, they get a loan for six months,
five months, or whatever. They flip it, anything
less than nine months by definition is not
a security. So a loan that is nine months
or less is not a security. So most of the
time it doesn't really help you but if you're
in the flipping business and you only need
the loan for three or four months or six months
or eight months, that's something else that
might help but that by definition is not security
Rod: Okay okay so we've done joint ventures,
we've done notes, what's next?
Mauricio: The second big thing is you know
we and I talked about let's pick our poison.
The next one is probably advertising right.
Rod: Yeah
Mauricio: You've got to understand that the
SEC has a zero, what's I’m missing
Rod: Tolerance
Mauricio: Zero tolerance policy on this and
for some reason people think they can post
on. So for some reason the social media doesn't
seem like it's the same as taking out an ad
in the Wall Street Journal or the L.A Times
right. And so they, and everybody does it.
And so people start posting not only about
their deals I've actually seen posts and again
maybe these posts are allowed advertising,
so I’m not saying all these posts are illegal
because there are certainly some exemptions
that allow you to advertise and in those situations
you want to go on. But if you can't, there's
two types of posts that I see. One is the
flat out, hey I’m raising money call me
which is clearly in violation of those rules.
And then the other thing is you know is this
conditioning the market concept which even
if you're not talking about your specific
deal but you're just, you're posting something
that clearly is drumming up interest and excitement
about a current deal or maybe even a deal
that's coming down the pipeline, that can
be considered conditioning the market which
is going to be advertising which is one of
the reasons I recommend to all my clients
that if you have an active deal, I would stay
off social media. I mean you can post about
your cats and your family and all that stuff
and your kids but don't try and get cued about
posting you know my favorites of the ones
that get posted on their due diligence trip.
Hey, we're doing due diligence at the property
today and there's like a little video on that
and there's a way to do it that you could
probably get away with not conditioning the
market. But people can't help themselves.
They always bring up the offering or call
me and investments I mean that's why they're
posting right
Rod: Those are my most heavily watched videos.
I just literally just did one a couple days
ago and they get upwards of 5,000 views but,
I’m doing 506C offering. So I can you know
pretty much shout it from the rooftops and
what he's talking about guys here is 506B
which was the original you know exemption
and you have to have a substantive relationship
with those people. And that doesn't mean social
media doesn't mean at all.
Mauricio: Yeah and if you do like let's take
that so I think this is a good example. This
is probably a good, I should probably talk
about that this more often. So let's take
that event you're at the property doing due
diligence. Obviously, you do 506C. You can
do whatever you want. You could literally
tell people. We're in the middle of this deal
call my team if you want to invest. But if
you're not you could in theory do a value-add
video right. Take your camera and say look
here are the top 10 things that I look for
while I walk units for example. And you take
your camera and you go through a unit and
you and you point out the 10. It's got nothing
to do with your offering it's got nothing
to do with conditioning them. You're literally
delivering pure value to your audience and
that's the way in my opinion the best way
to use social media is get that value-add
type of information out there. Get that information
from the person consuming your content and
then start a relationship. Start building
that substantive relationship which you just
mentioned Rod which is really what 95%-96%
of the people rely on in order to avoid advertising
rules is having a substantive relationship
with the investors. And using social media,
not in not in the middle of a raise, but in
between raises, using social media to get
people off of social media and start that
relationship building that's the way I think
you should go about doing this
Rod: Okay so you could actually do due diligence
on an asset you're raising money for if you
didn't, and I don't want to get, people are
going to you know what if I say that they're
going to see it, they're going to try to weasel
through it so I’m not even going to suggest
it but the bottom line is if you are adding
value, you know and that's what I try to do
on mine you know I talk about the little nuances
like I just did one on a property management
changeover and I was doing one on sequencing
make readies and project management for a
big turn you know big reposition. But you
know most isn't 85% of the market 506B where
you’ve got to have relationship?
Mauricio: It's actually more than that. I
use to see 10. Now I've saw the last existence
it's almost like 94%-96% for some reason,
I don't know why. I mean you do 506C
Rod: Now I do is C. You can't advertise with
a B. It's just so surprising to me and maybe
it's just everybody's doing friends and family
or something. I don't know
Mauricio: Look, one of the reasons I appreciate
this is you've got to remember like our little
niche here is very small right. I mean the
amount of people are doing what we're doing
I mean most of the money is raised by Goldman
Sachs, JP Morgan. They all use broker dealers,
broker dealers have relationships. So that's
really I think why they don't need to do 506C
they already have they're using brokers to
do their thing so I think that skews the numbers
a little bit certainly in world. Let's take
my world for example from my clients I would
say it's closer to like 70-30, 80-20
Rod: Okay, still high, very high okay. Why
do you think that is why do you think so many
people are doing B instead of opening themselves
up to have the ability to advertise
Mauricio: Well the main reasons is with the
506B,
Rod: More people?
Mauricio: Well you cannot take a non-accredited
investment
Rod: Right. So it's more people yeah
Mauricio: Yeah you're swapping the privilege
of doing advertising but then you can't take
any non-accreditation. A lot of first-time
syndicators or people who just are comfortable
you know you may have investors in your deals
you may have done five deals, you've got non-accredited
investors. You don't want to shut that money
out
Rod: Yeah of course of course. I should have
thought about, of course that that makes complete
sense you're going to have a much bigger pool
to fish in in the 506B but you can only fish
with people you know that's the limitation
that people stretch the envelope on
Mauricio: And you've got to worry about all
these gray areas. I mean a lot of these things
that we're talking about, they're great. I
mean, what does conditioning the market really
mean? I mean we don't have any clear guidance
on that
Rod: So talk about that. Drill down on that
a little bit if you would please.
Mauricio: Yeah I mean you know there's some
things that are clearly conditioning I mean
for example if you go there and you start
talking about how you know how amazing your
you know how about your investors do really
well and you typically give them 10% or 12%
percent returns like that's obviously something
you're getting people excited about. But there's
a lot of things that are on the fence I mean
you know that due diligence video, I mean
if you're doing a pure value ad but then you
kind of sneak in there you know hey, for more
info you know click here or call me to find
out how ask me how you know all that kind
of stuff it gets a little bit tricky and I
just think you're playing with fire and because
of that I think if you're going to do it like
the video we talked about the doing the due
diligence video I would record it at the due
diligence. But don't release it until you're
done with your offering so there's really
no debate, there's no there's no risk of anybody
saying well that was really a video to get
people excited about your deal. Everybody
knows you're doing a deal and they're going
to contact you because you're well known in
the industry that you're in the business of
acquiring properties and therefore when they
saw that video they knew you had an offering
in place. So that's kind of one of the great
but the 506C is such a great you know if you
can get around the issue of non-accredited
and stick to accredited. It really opens up
your entire world. Right now, you can market,
you can go on podcasts like this or you can
have a podcast and you can literally screen
from the top of the mountain. I have a deal
come talk to me
Rod: Right okay so, conditioning the market
and examples would be talking about previous
deals you've done and the returns you've gotten.
And just anything that juices people about
wanting to do business with you would be considered
conditioning
Mauricio: Or even that post where you don't
have to reference a deal like if you have
a post and say if you want to find out how
to invest with us call us, you're not really
talking about a specific deal but that's clearly
you know a conditioning the market issue
Rod: Even just letting them know that you
raise money in the future would be considered
conditioning market.
Mauricio: Yeah the only things you're allowed
to technically do are factual information
about you and your business. You can always
post about you know that's why I like the
posts about hey you know we acquired this
property last year and we retrofitted the
pool and here are some pictures of our beautiful
new place
Rod: Can you talk about the numbers even if
they're factual?
Mauricio: I wouldn't talk about the numbers.
I mean you can talk about hey how much it
cost you? But I would certainly would not
be talking about you know what that translates
into a higher NOI which translates into a
return for your investors
Rod: See that's I've seen contemporaries even
high-level contemporaries do that and one
of them I've heard is being investigated where
you know you're talking about you know turning
it around increasing the NOI and here's how
much equity we've built
Mauricio: I think that's where you crossed
the line. You started with a value add or
in this case it would be a factual you know
there's nothing wrong with you telling them
how your business is doing. But I’m telling
you, people cannot help themselves. They have
to squeeze in, a oh and by the way this really
helped our return for investors and all that
stuff they just can't help this out which
is why I prefer not to do it while you have
a big deal
Rod: Wow. So what else? What else is out there
that you…
Mauricio: You know the other one which is
specific you know we talk about these contemporaries
that there are at least two SEC investigations
that I’m aware of. And they focus more on
the raising capital for other people, this
funny raising thing because it's very tempting
you know raising money at some point you run
out of your, the people you know and if you
can't advertise or you where do you get the
money from? It's very tempting to start partnering
with other people and bringing in what we
call money raisers who have the ability and
the skill to go find a million or two million
dollars for you. It's very tempting to bring
them in and give them a piece of your deal
in exchange for that, for that money that
they're bringing in. And everybody's doing
it or at least you know it's interesting I
think everybody was doing it Rod and you know
at some point, at some point it started to
get talked about a lot sometime. I think in
the middle of last year and I’m not exactly
sure what the trigger was
Rod: I think you played a role in that my
friend okay because you're out there quite
a bit you know with your flip chart telling
people about this. So I think you were probably
a big impetu you know a catalyst for that
conversation. So what else can we you know
is happening that you're seeing out there
Mauricio?
Mauricio: Yeah well I mean, we've been talking
about these two investigations, at least I’m
aware of two, there may be more where, and
they're focusing more on this issue of bringing
in money raisers to help you with the raise
Rod: Right
Mauricio: It's very tempting because you know
it's not easy to raise money and so especially
as you get larger and larger and you run out
of your own capital, your own friends and
family, that it's very tempting to be able
to bring somebody else in who has the ability
to go raise a bunch of money for you, and
then pay them typically with a piece of the
GP or shares in the company or some kind of
compensation and what most people forget is
that you can't do that unless that person
is a licensed broker right which of course
they're not. I mean if you want to employ
a broker dealer that's fine they'll charge
you a commission to go raise money for you
but those guys aren't getting out of bed for
less than 20 million dollars anyway. So that's
why it's not really something that I see that
often. But in order to bring somebody in to
raise money for you, I don't even want to
use that term because again money raising
in and of itself is not right. They've got
to be a legitimate co-sponsor of the deal.
They have to be doing real work active role.
They've got to be doing everything that everybody
else does you know you've got to be involved
in the acquisition you know finding a deal
and vetting the deal and doing the due diligence
and doing the underwriting and then once you
close on it you've got to execute on the business
plan. You got to asset manage it. Then you
got to sell it. All that not everybody has
to do everything but you've got to be involved
in those types of duties and the key words
that we like to use from the statute because,
just to backtrack a little bit, in order to
get around this issue of you being a broker,
you have to rely on what we call the issuer
exemption right. And the way we rely on the
issue exemption is for you to be doing substantial
work substantial duties it can't just be I’m
just raising money. I've got to be doing one
of these things that syndicators do and that
has to be your primary role. Your primary
role has to be doing whatever it is you're
doing.
Rod: So it can't be just raising the money.
It's got to be the you know being involved
in the due diligence, doing the analysis,
you know and then maybe involved in in getting
bringing that deal to closing, involved in
the financing, signing on the debt maybe,
but right at the very least you know being
actively involved may be involved in the asset
management after the fact the investor relations
can be a piece of it but it can't be all of
it
Mauricio: And I think, yes the asset management
piece is an important piece. I mean if you're
just involved in the beginning and the offering
and then once you close, you go home. That's
not looking good either. So you really want
to be as active as possible in that area and
where people are really not even coming close
to this. I mean the things I've seen from
people are for me cringeworthy is where they're
getting paid what we call transaction based
compensation meaning literally if you bring
in a million dollars, I will give you x percent,
if you bring in two million dollars I'll give
you more or if you don't bring anything I’m
not gonna, that kind of stuff is blatantly
broker dealer activity. And so that's the
first thing you want to avoid. I mean if I’m
going to give you a good recommendation is
don't pay people based on how much money they
can bring in and make sure they can add value.
I mean if you, I've seen people bring in sponsors
that have never owned a piece of real estate
in their life. I mean what value are you adding
to this whole process if you've never done
a real estate transaction. I mean maybe you
can help out you know at the beginning if
you're learning and maybe you're a one or
two percent you're kind of learning the ropes.
But that's a big one and that's one, I’m
actually I hate to say this but I’m actually
looking for I obviously don't wish anybody
harm here but we have a lot of uncertainty
when it comes to the substantial duty part
like what does that mean right just like
Rod: It hasn't been litigated or anything
yet there's no case law yet right
Mauricio: A lot of stuff about transaction
based compensation that's easy. Primary to
me is easy because it just means you spend
more time than not on something but you know
like you said does investor relations alone
is that a substantial duty right?
Rod: Right
Mauricio: And I think of it as a sliding scale
Rod. I think the more ownership you have in
the syndication and the more money you're
bringing in, the more burden you have to show
that you did substantial duties. If you're
somebody who has a two percent ownership isn't
doing much, brings in one or two investors,
you probably don't have to show too much right.
But if you get a significant chunk of the
dough and you're bringing in a lot of the
money I think that's where the pressure stops
mounting
Rod: Okay and circling back to the transaction
based compensation, guys, I have heard of
every iteration of an attempt to circumvent
that you can possibly think of, a marketing
fee or whatever, listen guys, if it walks
like a duck and talks like a duck and smells
like a duck, the SEC is gonna know it's a
duck. So don't think you can get around this
stuff because you can't. You just can't. So
do it right or don't do it at all because
you will get your butt kicked if you try to
get over on them because they're not stupid.
And I know you know you agree with me here
Mauricio
Mauricio: I’m so glad you brought it up.
I mean, marketing fees consulting fees are
probably the two most common ways people think
they're getting around it. Let me tell you,
the SEC knows exactly what you're doing. If
anything it's probably a red flag, if you
have a consulting agreement or a marketing
agreement, similar to what we talked about
generally you know of how you structure your
syndication. How you structure that compensation
is completely irrelevant. The SEC is going
to go right through it and if you're claiming
a consulting agreement for example, you better
be able to prove what consulting you did and
your compensation for that consulting better
be in line and reasonable to what you did.
So you're gonna have to show you know phone
records or minutes of meetings or just something
that proves that you actually did that consulting
and of course it doesn't look great if you're
doing consulting and then they're gonna find
out that you are responsible for bringing
in two million dollars of equity in the deal.
Trust me, when things go south your investors
will not be your friend. They're not going
to be telling the most rosy picture of you.
They're going to do the complete opposite
you may not even think they're truthful but
they're not going to be your friend if there's
an investigation and they've lost all their
money
Rod: Nope. So, if we haven't sufficiently
scared the crap out of you, then we haven't
done our job. But I do want to swing the pendulum
the other direction and say, listen, just
about it, most of the people out there are
doing this right and they they're not trying
to screw people, they're not trying to circumvent
the law, and it's just an education process
and you know Mauricio speaks of my two-day
and what was used to be my live three-day
boot camps and he just spoke at the last two
day we had. We had over and the one before
that we had 900 but you know it's just an
education. You've got to learn this. You can't
dabble in this, bottom line. But it's not
something to be afraid of or intimidated by,
you just have to know it right.
Mauricio: You want to just have to, look,
are you obviously working with an attorney
right this is not a do-it-yourself project
so you have an attorney that's what they're
for. They're there to guide you through and
make sure you don't step over this landmine
and then getting the education. I mean, that's
why I love your programs Rod
Rod: Thanks
Mauricio: Just having that education piece
in there just it just alleviates a lot of
the risk because you're now aware of them,
you know how to communicate with your lawyer,
and look this is one of the greatest ways
to add value to your own you know your own
people, to your investors, to the community,
it's such a great vehicle for wealth creation
that I don't want to scare people off. I want
people to take it seriously though and educating
yourself and just making sure you've got an
attorney.
Rod: And don't try to be sneaky. Just do it
the right way. It's you know you you cut a
check to Mauricio to get it done right and
that's what everybody does and don't overthink
it. It's not overwhelming. It's not intimidating.
Once you do the first run, you'll be like
is that all there was? But do it right don't
try to be sneaky about it. So how can people
get your ebook here Mauricio?
Mauricio: You know they can just shoot me
an email at jail
Rod: Seriously?
Mauricio: Yeah it's jail@premierelawgroup.net
Rod: oh that's really funny
Mauricio: jail@premierelawgroup.net and that'll
get automatically sent over to you
Rod: That's really funny. All right well and
again he speaks it, I've got my next boot
camp coming up in October I don't know the
dates off the top of my head but if you're
interested I think you can still go for less
than $97 and it's a multifamilyvirtualbootcamp.com
and he'll be speaking there as well as you
know other people and teaching you this business.
But listen brother, I appreciate you being
on the show. It's good to see you man and
you know always adding value and you know
hopefully we'll get to see at a live event
one of these days soon when the world opens
up again.
Rod: I miss everyone man. I miss everyone.
Yeah right. All right man, well listen, thank
you so much and appreciate you being on the
show
Mauricio: Thanks for having me Rod. Appreciate
it
Rod: All right. Take care buddy.
Ads: Rod, I know a lot of our listeners are
wanting to take their multifamily investing
business to the next level. I know you've
been hard at work helping our warrior students
do just that using our ACT methodology which
is Awareness, Close, and Transform. Can you
explain to the listeners how they can get
our help? You bet. Guys, we've been going
nonstop for three years building an amazing
community of like-minded people and our coaching
students which we call our warriors have had
extraordinary results. They've purchased thousands
and thousands of units and last year we did
over a thousand units with our students. And
we're looking to grow this group and take
it to the next level. We're looking for people
who want to follow a proven framework that's
really step by step and then leverage our
systems and network to raise equity, to find
and close deals, and to build partnerships
nationwide. Now our warrior community is finding
success in any market cycle. So, if you're
interested in finding out more about how you
can become more of our incredible network
and take advantage of the incredible opportunities
that are coming very soon, apply to work with
us at mentorwithrod.com or text “crush”
to 41411. That's mentorwithrod.com or text
“crush” to 41411.
