Real Estate Revealed

#17 - Noah and Christy Harris, Real Estate Powerhouse Couple

Eric Wilson
February 22, 2021

SUMMARY KEYWORDS

people, realestate, buy, property, call, christy, talking, investors, money, christie,listening, commercial real estate, business, unit, noah, market, flip, dave,florida, house

SPEAKERS

Christine Harris, Noah Harris, Dave Seymour, Intro Voice Over

 

Intro Voice Over  00:00

Have you ever wanted to create cash flow outside of your job income or retirementplan? Have you considered large commercial real estate assets? Do you knowabout alternative investment strategies? Keep listening. This is real estaterevealed hosted by Dave Seymour, the star of a nice living Boston and CEO offreedom venture investments in Denver. Get the real deal about investing incommercial real estate to create long term stable financial wealth smarten upyour real estate skills now.

 

Dave Seymour 00:35

Hey,welcome Dave Seymour. 104 point nine FM Yeah, you know where you are, you knowwhat you're doing Saturday morning listening to real estate revealed? Andyou're thinking to yourself, man, that voice sounds familiar. Is that the guywho was on that TV show flip in Boston? Well, you're absolutely right. It isyou might recognize my voice from flippin Boston, or you don't, it doesn'tmatter. I'm also the CEO and co founder of freedom venture investments. Andtoday I got I got a powerhouse and I mean it a powerhouse couple is going toshare their experience with with real estate investing. It's their team. It's ahusband and wife, children life. They're going to be sharing their journey withus. But for those of you efficient first time in before I introduce my guesttoday, freedom entry investments. We're a commercial real estate investmentcompany. We take accredited investor capital, we put it to work at targeteddouble digit returns, we identify the lazy money that's out there, we show youhow you can potentially play in a sandbox that's typically only been forinstitutional investors. And that evil elite 1% you know who you are out there.So we'll talk about that a little bit more towards the end of the show. Butlook, before we do that, I've got a couple of intros and these are fantastic.I've got Noah Harris and his beautiful wife Christy dockett Harris with metoday. Friends of mine known him for we probably got five five years offriendship under our belt. Christie is one of the nation's top real estateinvesting coaches. She teaches what she does in her business all over thecountry heavily sought after for a knowledge of passive income which we talk alot about on this show also how to fix and flip properties. Christie leads theSouth Carolina division of real estate investment USA a platform that teachesothers how to do what we talk about I didn't know this about you Christiebefore I bring you in here that you have a psychology degree from from RadfordUniversity that that definitely helps in business and you love you love helpingother people you know share and grow their their knowledge base when it comesto real estate investing. And then my buddy Noah Noah Harris, full time realestate investors well, author speaker spoken all over the United States and Iwas studying finance and real estate at the University of Central Florida. Sohe's he's part of my Florida crew, if you will. Just Just great people 15 yearshe's worked with some of the brightest real estate minds in the country, so Iguess I got to put myself in that category. Nora Christie How are you guys? Areyou there?

 

03:26

Hey

 

03:29

guys,

 

Noah Harris 03:30

hearyour voice man.

 

Dave Seymour 03:31

Yeah,you too brother. You too I miss you man I miss you. We spent a good few yearsto get her on the road there and I know Christy was was back at home eitherteaching or cranking out the real estate but you're the first couple that I'vehad on the show so I couldn't think of a better a better duo than he'd so

 

03:53

open thetires

 

Dave Seymour 03:56

man ifyou look at it's all it's all about, you know sharing sharing experience. Solet's let's do this. Let's follow the format that we usually don't tell me alittle bit about I want to know how you guys met where you met. I want to knowabout what it's like raising a family what what your real estate business lookslike in the Carolinas. So fill me in Tell me the story. Come on now.

 

Noah Harris 04:19

Oh, man.Well, Christy and I we've been investing for over 10 years. We've been marriedfor eight. And of all places they've We met at a real estate investmentworkshop.

 

Dave Seymour 04:34

No, Idid. So

 

Noah Harris 04:38

So Iwalk into the room and I'm like, Oh my god, like this is the most beautifulwoman I've ever seen. And and she likes real estate. Do you like ugly housesjust as much as I do? Like how is this even even possible? I

 

Christine Harris  04:53

justtricked him using my psychology degree. No.

 

Dave Seymour 04:57

She shesaw the muddy trade And she said I'm in baby of it.

 

Noah Harris 05:03

Who knows?Because it goes both ways. Right?

 

Dave Seymour 05:06

You knowwhat that that's funny I, as you know, I shared the story I met Mary Beth mywife in a labor and delivery robe. Like you never you never right? You don'tknow this Christie I met Mary Beth in the lmd at Salem hospital here inMassachusetts. I was doing a paramedic training. And I had to do it. Yeah, Ihave to do 24 hours of labor and delivery and up pops. This is crazy, crazywoman stole my heart stole my mind stole stole everything from me. And younever know where you're gonna fall in love. So carry on. If you go to theseminar, you the eyes meet across the crowded room. What happens next? fill mein.

 

Noah Harris 05:45

Yeah, soI was living in Austin, Texas at the time. And Christie was in Columbia, SouthCarolina, and she says, hey, look, if we're gonna do this thing, you know, I'mnot doing a long distance. You got it, you gotta move here. And I came andvisited Columbia. And I fell in love with her, but then also the city. You know,from a real estate standpoint, you know, we could have gone anywhere in thecountry. We weren't tied here. But I lived in Orlando, Florida. I saw whathappened to the market there. I was living in Austin. I saw how much wasblowing up there. And I said, hey, look like we should stay in Columbia, SouthCarolina. Like the prices the price points. You know, all the all the metricsof what real estate investors look for. in residential real estate andcommercial real estate is about to happen here. So we ended up staying inColombia. We got we got married and in real estate's been a big part of ourbusiness. Right. I mean, the Monday we got married on a Saturday, the Mondayafter our wedding, we started a flip together. And why it off to the races eversince. Yeah, literally,

 

Christine Harris  06:47

insteadof going on the honeymoon. I'm like, Okay, listen, we have this property, wehave to flip first. Okay, we have work to do. We just had the wedding. That wasamazing. But we need to get to work now. Okay.

 

Dave Seymour 06:57

That'sso cool. That's so cool. So tell me about Tell me about some of the challengesthat you had those early days in your buy, fix and flip careers because italways looks easy on TV, trust me, right? I every week I say this is an HGTV right?You can go there and see any couple on HGTV pretended to flip houses. And thenthere's the reality of flipping houses either as a couple or an individual.What were some of the challenges early on.

 

Christine Harris  07:22

I think,for us the biggest challenge I hear this constantly when I'm coaching andtalking to other investors is like really building that good team, that goodloyal contracting team. Because for us, marketing wasn't hard. Like, you know,we love people, we, I literally say your your best marketing tool, open yourmouth and talk to someone. And that's a testament to a lot of the best dealswe've done. So I felt like we had that down. But it was really finding thosegood trustworthy contractors and people to work, you know, for you and, andreally buy into your vision and what you're doing. It's not like they'reworking for you, right? Like, we want them to understand this is a businessthat's helping build their business. And that took some time to find the rightfit people. And you know, fast forward, we've got that now it's it's amazingour rehabs run very fluid, we don't have to show up. It's almost like and I runour projects. No is like the backend money guy. I'm the one who's on site. Ilove our contractors,

 

Dave Seymour 08:15

reallyyour muscle on the job site.

 

Christine Harris  08:18

Yeah.And you know, it's funny, I tell people and whether they like this or not, Isay listen from a young age, right? No, and I have I have a stepson, who's 16.And we have two boys together four and a half and six, which, again, we'revirtual schooling this year, you know, like,

 

Dave Seymour 08:33

to Yeah,

 

Christine Harris  08:34

whichis, you know, been testing and amazing to be home with a family. But I telleveryone from a very small age male or female, you have, you know, you'reeither raised in a single family household or a family household. But a lot oftimes your mother is the one who's always telling you to do things all thetime, whether you want to do it or not you hear in your ear. So I think womenmake great project managers, because a lot of the people in the workforce aremen. So it's like, okay,

 

Dave Seymour 09:02

that'sso good list of psychological degree. There's a psych degree at work. Likeshe's she knows she's walking on that job site, and all she sees is big, burlymen with mommy issues.

 

Noah Harris 09:16

Youknow, it's funny, they're coming to me, right? Because I'm the guy. And I'mlike, Hey, buddy, you're talking to the wrong person. Like, I don't know how toinstall a doorknob. She's right over there. That's

 

Dave Seymour 09:27

so cool.That's so cool. You know what's interesting, right? You're talking about thatteam component. And it's nice for us to have this this conversation at thislevel, which is friendly and interactive. But it wasn't easy. Tell me aboutsome of the challenges that you had along the way even with your psychologicaldegree. You You nobody's 100% 100% of the time.

 

Christine Harris  09:51

Right.And I think a big part of that is learning like as much as people want tocommit to you and they Yes, you to death. The reality is people are people Soknowing that, you know, if someone isn't you can't get references from someoneof the business they've done, that's probably not going to be your goodstarting person, right? Like, you've got to find these people, because what Ifind is people wouldn't show up or they would over commit, they would overpromise and under deliver. And to me, that was really frustrating, because Ireally value Tell me, I grew up on a farm. So my dad's a farmer, he's still afarmer, he's very much what you say is your word. And what you're going to do,you will so I have a really hard time with that. And I found a lot of peopledon't live by that same code. So it was really hard at first because I am afemale, and I do love to help people. And I want to give them the benefit ofthe doubt and a second chance. And in this business, you just can't, it reallyhas to be business.

 

Dave Seymour 10:42

I tellyou, I've found that some of the most productive intuitive people in my careerhave been have been women. I don't know why we ended up with a man womandiscussion, but we just ended up there. But the insight, here's here's what Ifind, I'd like to take on this because we're going down a rabbit hole, and I'mokay with that. It's my show, I can talk about whatever I want. So here we go.Right. Something that I found was is that when a woman is in control of likethat, that male dominated environment, the contract is and please, anybodylistening, don't take this, I don't care, you can take it the wrong way. It'salmost like the contract that looks at a woman on the job site in a prey orpredator type, you know, mindset. And I don't mean that, like, you know, hurtthem, but control them, like, you know, I'm the big bad, you know, plumber orelectrician or carpenter, what do you know? So what I found was, is that thethe woman on site was the most powerful with her intuition, and a system. Ifshe was systematized what it did is it boxed out all of the Bs, all of thebravado? Right, all of that male ego? would you would you agree with that,Christy, from your standpoint?

 

Christine Harris  11:57

I do.Dave, I really do see that. Because I have a great working relationship with myguys. And it's funny, like, they want me to come out just to talk to me andtell me what's going on and like hanging out, right? And it's cool, because Idon't come at them from a, hey, I'm a woman, listen to me. It's like, Hey,guys, we're working as a team. Let's get this done. It's from a motivationstandpoint. So I completely agree with you, once they see you have your system,and this is how you operate. They're on board. They're like, great. I alwayssay you're really building a loyal team of people that will do anything foryou, no matter what time you call them during the day and whatever you needthem for. And literally, those are my people.

 

Dave Seymour 12:32

I tellyou, you just you just hit the nail on the head right there. I as you know,I've done a lot of teaching, I've taught alongside your, your wonderfulhusband, one of the one of the things I said to anybody was trying to learnreal estate, whether you're in the commercial arena as I am today, or myhistory and buy, fix and flip like you, you will always and I mean thissincerely, and I don't know, I don't know how to hammer this nail any harder.You always have to be in a position that when you call your contractor, theyare excited to pick up the phone, and vice versa. Because we cannot execute ona deal without a contract as helping support it is absolutely a team effort.They win, I win. And if I win, my investors win. So if those pieces right, ifthose pieces are not laid out perfectly, and that all the kinks are not workedout. There's always an opportunity for failure. Not we're going to go to aquick break. I'm loving this conversation. noer I would like you to keep itdown a little bit. You're interrupting me and Christy way too much.

 

13:35

Figuringout the dynamic of our business relationship.

 

Dave Seymour 13:37

Yeah,man, I know what you are yourself. I know you. Were gonna be right back in asecond. I'm talking to Noah Harris, his beautiful wife, Christy dockett.Harris, and we're talking about real estate you're listening to 104 point nineFM Don't go away.

 

Intro Voice Over  13:55

estaterevealed We'll be right back. Today, the real estate market is booming mortgagerates just at historic 30 years old. And the New York Times recently reportedthat investors are snapping up real estate at rock bottom prices. And now savvyinvestors are buying real estate using their IRA that allows them to accesstheir retirement funds to buy properties without paying any penalties or earlywithdrawal fees. If you have funds in your retirement account and you areinterested to learn more call horizon for us today at 866-712-2007. That's866-712-2007 unlock the power of your retirement account and take advantage ofa one of the most profound opportunities in real estate since the housingcrisis 15 years ago, call horizon trust retirement specialist at 866-712-2007.And for a limited time, get our free Ultimate Guide to buying real estate withyour IRA that's 866-712-2007 or visit horizon plus.com slash Horizon TrustCompany is an independent passive custodian and is not associated or affiliatedwith and does not recommend promote or advise any specific investmentinvestment opportunity investment sponsor, investment company or investmentremote or any agents, employees, representatives or other such firms or entityhorizon trust is not providing investment advice, advocating or endorsing realestate. These options may or may not be a fit for individual investorsinvestments are not FDIC insured offers no bank guarantee and may lose value orrising trust doesn't receive any commissions or fees if I invest with any othersponsor. Thinking of purchasing a new home second home or investment propertyor maybe refinancing to get a lower rate, consolidate debts, drop EMI or needcash out to do Home Improvements George kudos mortgage officer cross countrymortgage and Danvers is just a loan officer you will need as Essex County's toploan officer with more than 8000 past happy clients in over 30 years experienceGeorge and his team will be happy to assist you with rates the lowest inhistory Don't hesitate act now you may be able to save 1000s of dollars callGeorgia at 97877746 630 you're listening to real estate revealed with Dave seemore from a nice living Boston.

 

Dave Seymour 16:04

All rightWelcome back. Welcome back. whatever it is you're doing stop doing it sit down,pay attention. You might even want to grab a pen and paper. I mean, that's howthat's how good this this call is going right now. With crispy duck and herhusband Noah, the power couple buy fix and flip real estate investors in theCarolinas. Hey, you heard it by the way, if you need a mortgage, you now knowwhere to go get my buddy George kudos abuzz. You want the best realtor righthere on the North Shore give CB a buzz. And look if you're gonna you're gonnaseriously consider you know, turning your finances around this year, you couldlook at what it takes to get that retirement capital out of its lazy bed andinto an active scenario. double digit Tod targeted returns by using your selfdirected retirement accounts. I pulled up a statistic and I I'd be interestedto see what what your guys's take is on this. No and Christy, I found out that80% of New Year's resolutions have failed by the second week of February.Right? Everybody was listening to the show in January February said yeah, I'mgonna call Dave. I'm gonna get some more information. We're going to learn howto get our money working. This is it. It's gonna be different this year. And,you know, my phone rings off the hook all the time. But I'm just wondering,those of you listening to the show has your New Year's resolution petered out?Wah, wah, wah, there you go. That's it. That's my psychological piece rightthere, Chris. Yeah. So that's all I got for a psych major. So, Noah Yeah. 1008?what it looked like, was it a good time? Was it a tough time? Eight 910? Whatdo you see going on today? Is there a comparison? Some people say it'sdifferent? Some people say it's not COVID has caused some absolute chaos? Talkto me ghosts, fill me in? What do you see going on?

 

Noah Harris 17:59

Youknow, I I'm very grateful that, you know, both Chris and I, you know, werearound then investing in real estate during that time, because we learned a lotof lessons. And, you know, we made it through that time, and actually becamestronger real estate investors, I think because of it. And our foundation ishas always been our education. And understanding that there's there's not justone way to invest in real estate or to flip a house and, and to know what otheropportunities are out there. different strategies and things like that. And inthe time that you're talking about, I saw people very close to me, a familythat I care very much about, go through a really hard time. And I do believethat what we are going to be experiencing is different. I think there's goingto be winners, for those that have positioned themselves with education and inthe know how and, and surround themselves with the right people. But man, youknow, for instance, had a family member who had maybe four mortgages on spechouses in Florida, had no business being in real estate investing and, youknow, had to declare bankruptcy. And what's crazy is the people that were givenher these loans were people that you know, I went to high school with, yeah,who had no business doing any of that stuff. So I think the economics behindwhat we will see here in the future is much different than what was happeningback in 2008, nine and 10. But what I will say is that, you know, there'salways a lesson to be learned and I know Christy can speak on this too. Whenbanks weren't lending there in that time. It taught us how to be creative, andhow to do creative financing. And we began to diversify from single familyhouses into other asset classes, like mobile homes and mobile home parks. Soyou know, there's there's a there's a lot to be said for Being able to beflexible and educating yourself and, and surrounding yourself with the rightpeople to assist you. So

 

Dave Seymour 20:06

let meunpack that a little bit. Because there's, there's a ton of education in that,you know, three, three minutes that you spoke Noah, right. One of the thingsyou said was is we learned in 2008, that it's not just one way to make money inreal estate, right, what we call multiple exit strategies, then you also saidwe learned to to get creative with financing because the banks were notlending. And you talked about owner financing and creative financing. So andthen then you said something that was interesting. And I'd like your take onthis, you said, you know, the economics of 2008 are a lot different than theyare today. But my question to you and to both of you would be this is the skillset of multiple exit strategies, you know, wholesale a property, buy, fix andhold the property, buy, fix and flip a property, you know, ground upconstruction, knock it down, build, like we could go on for days talking aboutthose things. How to structure debt, with private lenders, hard money lenders,a little bit of bank money, a little bit of my money that we could spend a lotof time on that as well. My my, my thought process is this is if the economicsor the underlining causes are different from, you know, the the mortgageindustry and Wall Street, you know, doing what it did in 2008. And now, we'rein a situation where I think the Biden administration just passed another 900billion Relief Act, there's another 2 trillion on the table. You can't beforeclosed on in most states, because of the fact that, you know, we're goingthrough this unprecedented COVID scenario. Oh, and by the way, if you are alandlord, it's okay if your tenants don't pay their rent,

 

22:00

right,yeah.

 

Dave Seymour 22:01

But Butif you're a landlord, and not a property owner, a single family and you don'tpay your mortgage, then the bank can foreclose on your multifamily assets. Somy question to you is this, the fundamentals or the economics might be high,but underneath it might be different. But what what do you see and similaritiesof of consequences to the difference in economics, you understand what I'masking you? Do you see things having a similar result or not? Compared to Yeah,mate? 910?

 

Noah Harris 22:34

Yeah,

 

Christine Harris  22:35

I do.And you know, it's interesting, because my favorite investors are investorsthat are 8080 plus years old and above, because they have somehow so and we'rein Columbia, South Carolina, if I meet an older investor, probably even over75. If they have one property, they have 15 properties. And I start, like,digressing, I go back, I go, okay, when did you buy these properties? And I'mlooking at the years they bought them and I'm like, I asked them, how muchincome did you make them? How did you get 17 properties? back after the GreatDepression? You know, it's like boggles my mind that right now, most peoplecan't afford a Starbucks coffee, right? Like, it's, it's confusing me. And whatI find is a lot of them, you know, leveraged differently. They bought one housefrom the street, we talked about owner financing, they knew a neighbor, theybought another house, they owner finance, right. So they work the whole street.But what's interesting is, when we look at what happened, I do believe a lot ofthat is going to happen. I mean, I was I lived in Florida at the time of 2008and nine, I saw what happened to the market, same as No, I saw friendsinvestors losing everything. But what I started to learn too, is that everyinvestor was an expert in the business, and I hear that right now happening, youknow, with every agent, everyone's good. And you like Dave, sometimes I'm like,Are we back in this? But you know, I bought a house in 2006. And I kept it inOrlando, Florida, and just sold it this past summer because I had built so muchequity in the market was so up. So it kind of showed me the value of eventhough the market went down, it comes up. So I think there will be a lot ofpeople that suffer bad and lose everything I really do. And I think it issimilar. But I also think there'll be a lot of people that sustain and do well.And I think you mentioned something about the tenants. As soon as I'm quick. Assoon as the pandemic happened. We had short term rentals, and I all of a suddensaid, Okay, wait a minute. Is this like 2008? You know, is this gonna happenagain, we need to prepare, we have rehabs going on, I bought everything just toget everything completed. And I saw that wasn't happening. But we shifted allof our tenants to travel nurses because we knew the healthcare industry wasn'tgoing to stop. So we lost zero income during that time period.

 

Noah Harris 24:45

Yeah, weactually made more money doing that shift. You know, we had Airbnb s and as ourrental units were becoming available, we began putting in travel nurses asopposed to doing long term tenants and we're They're paying 50% more in rentsso our rental income is is up right now where a lot of people are, you knowstruggling

 

Dave Seymour 25:10

you knowwhat's what's interesting and I you know me I like to take it from a 30,000foot view otherwise we get so granular in the details we can we can get lostlike you and I can have the conversation the three of us and we're on we're onpower we understand. But you what you're talking about is it's it's that WarrenBuffett commentary, right? When everybody is is greedy, be fearful. And wheneverybody is fearful to be greedy, and I know I overly paraphrase thatstatement, I probably don't do the the Oracle that justice he deserves.However, when we ask when we hear that everything is fantastic in real estate.You know, guys like us, we know that something's afoot. I always say it'sreally easy to make money in real estate when everything is going straight up.Right? Everyone's a genius. Great right now. I'm crazy. We we've seen it. Ijust I had, I had about 101 $110 in a market in Maine, about an hour and a halffrom here called Sanford. And we just liquidated 90% of it. The last of it is aseven unit and a four unit the four unit went under agreement in about twoweeks. And for some reason, the the buyers got cold feet. My partner called meup he said the buyers got cold feet, you know, they made some excuse, whatever.I said, Okay, we'll just put it back on the market. We put it back on themarket for one day. And we got $20,000 more than we did for the guy who walkedaway on the deal, right? Yeah,

 

Christine Harris  26:41

exactly.It which sounds so familiar, right? You're like reliving in your mind. I mean,which is great. So exactly what you did Dave, I looked at all the properties Ihad owned for 15 years that were so high and equity. I was like we'reliquidating these now. What if things do drop a little I can reinvest thatmoney into better deals right now. And that's exactly what we did. We took ourportfolio looked at what we can move what we wanted to keep. And then we knowhow to market and the baby boomers era. Now a lot of them are selling theirproperties because they don't want to deal with this. You know, they manage alltheir stuff. They fix the repairs, they're over it. So there's a lot ofproperty out there. I think that will come. So for

 

Dave Seymour 27:17

you Whatare you seeing your market? Right? Are you seeing an influx of people? Are youseeing a population growth? What is that like ratio look like?

 

Noah Harris 27:29

Absolutely.I mean, we're probably number two, the number two or three state in the countryright now. I mean, all of our neighbors, people moving in, you just walk theneighborhood New Jersey and New York, Wisconsin, you know, they're from all overeven people coming up.

 

Christine Harris  27:44

Well,we're getting halfbacks that they call them all the Northerners like Noah,right? He grew up in upstate New York, his family moved down to Florida, andthen they move halfway back to New York, which is South Carolina. So theycalled

 

Dave Seymour 27:58

for atrip. Well, you know, you know, we're invested in Florida. Yeah. You know, youknow, my, my wizard behind the curtain, Walton, a Vicki, you know, Walterreally well, you know, and I was just talking to Walter this morning on apartner's meeting. And I and I mentioned that that YouTube cats will come in onthe on the show today. And he's like, Oh, I love those guys. He is he's one ofmy favorite people. But you know, we're seeing that we're seeing it in theFlorida market. You know it you know, the number one retirement state in the inthe country? You say number two, I think probably Florida is now number one,because we're seeing the amount of migration of people going down there. Allright, I'm loving this conversation. We're gonna take another quick break here.But when we come back, I'd like to know what you guys see for longer term holdsin your market. You know, what, what do you currently have in your portfolioyou're doing to short term rentals? Are you seeing opportunities for what wedo? Like we're apartment house investors, we'd like to 40 to 150 because I'mtelling you right now, I'm going to chew up the Florida market in the next 24months. And then guess where I'm coming? I'm coming knocking on your door. Allright. All right. All right. Let's talk about the waters. Well, we'll talkabout that when we get right back. You're listening to Dave see mom real estaterevealed on a 4.9 FM Don't go away.

 

Intro Voice Over  29:23

RealEstate revealed We'll be right back.

 

29:28

Stevemolestus of Solaris reality, has intimate knowledge of the North Shore marketwith over a decade of experience and record of 300 real estate transactions.When it's time to buy or sell property. Give Steve a call directly at617-763-1001 that's 617-763-1001

 

Dave Seymour 29:56

you everwondered how to create cash flow outside of your job, income or Retirement PlanHave you considered large commercial real estate assets? You know what analternative investment strategy is what tune in for all the answers on my showreal estate revealed this is Dave see my might recognize me from the hit TVshow flipping Boston. I'm also the CEO and co founder of freedom ventureinvestments to smarten up your real estate now by tuning in every Saturday forall investment details, visit us at info at freedom venture.com slash 104 pointnine call my team at 781-922-4418. Today the real estate market is booming

 

Intro Voice Over  30:29

mortgagerates just at historic 30 years old. And the New York Times recently reportedthat investors are snapping up real estate at rock bottom prices. And now savvyinvestors are buying real estate using their IRAs that allows them to accesstheir retirement funds to buy properties without paying any penalties or earlywithdrawal fees. If you have funds in your retirement account, and you areinterested to learn more call horizon for us today at 866-712-2007. That's866-712-2007 unlock the power of your retirement account and take advantage ofa one of the most profound opportunities in real estate since the housingcrisis 15 years ago, call horizon trust retirement specialist at 866712007. Andfor a limited time, get our free Ultimate Guide to buying real estate with yourIRA that's 866-712-2007 or visit horizon plus.com slash day. Horizon TrustCompany is an independent passive custodian and it's not associated oraffiliated with and does not recommend promote or advise any specificinvestment investment opportunity investment sponsor, investment company orinvestment promoter or any agents employees, representatives or other of suchfirms or entities arising trust is not providing investment advice, advocatingor endorsing real estate. These options may or may not be a fit for individualinvestors investments are not FDIC insured, offer no bank guarantee and maylose value. Horizon trust doesn't receive any commissions or fees. If I investwith any other sponsor. You're listening to real estate reveals with Dave seemore from Amy's flipping Boston.

 

Dave Seymour 31:57

Welcomeback. Saturday morning. What are you doing? What are you doing? You're fixing alot of lunch. I know you're not on a golf course, if you're here in NewEngland, it's too cold. Maybe you're down in Florida and you're listening tothe show down there. Now that we're broadcasting all over the place turningthis radio show into a podcast. So you can check out all the previous shows onthat podcast at freedom. venture.com and I'm just I'm kabinetts in I'm talkingwith my people about real estate real estate investing. I'm with ChristieDuckett. Her husband, Noah Harris. power couple in in the Carolina market downthere. So guys, what do you what are you doing for that legacy? wealth? Youmentioned the babies, Chris Yeah, right. The four year old, what do you sayfour? And what's your middle baby?

 

Christine Harris  32:45

Four anda half and six? So Noah's has a 16 year old? I mean, he won't know it looks 16himself, but he

 

Dave Seymour 32:54

sheloves you know? Yeah, look, I'm in the same place. I got my oldest by Robert 25from a prior marriage. And then Jefferson is 11. And Ben is eight about to turnnine. So you know, we're right there. Like we can't we can't give up. We can'tsay okay, we're done. Right? We got to create something long term for these forthese babies. What's your plan around that? What are you doing to create thatlongevity? Well, for the little ones and still give yourselves you know, thethe peace of mind that you're looking for as parents going forward? Yeah, we're

 

Noah Harris 33:26

buying.You know, our focus this this year, actually, for 2020 2021 has beenmultifamily. And buy multiple multifamily units here in Colombia, in SouthCarolina in our market right now, if you look at the map, we're outsideCharleston, between Charleston and Charlotte, and Greenville, South Carolinasmack in the middle. And we've got you know, the government here, secUniversity, University of South Carolina, and it's just this great, greatbuying opportunity. And so we've been scooping up multi families and really hotmarkets, buying them under undervalued and cash flowing, you know, extremelywell, in the meantime, and then you know, it's funny, you talk about the kidsand the legacy stuff. Whenever we buy a house, or apartment or whatever, we'realways we always picture the kids like when they're in college having kegparties and stuff. Like that. Which one's gonna get this one do you think orwhatever right, you know?

 

Christine Harris  34:27

Yeah,they're really nice when I say our youngest son's a mess. I go courts notallowed in this house ever.

 

Dave Seymour 34:33

Yeah,yeah, we're the same way. We're bad at my little guy. He's like, it's likehurricane Bennett comes strolling through the house, and everybody knows theimpression that he's making. So when you you buy these multis in New England uphere, we say multifamily. We're talking about what we call a three Decker or atwo family. What what kind of size properties are you focused on now? What doyou what do you like and where are you seeing the opportunities?

 

Noah Harris 34:57

Yeah, sowe're picking it. We're cherry picking properties that you know, really smart,older investors, you know, built them built like guest houses or duplex out orcombined parcels with the house next door unique properties that maybe otherinvestors don't see the value and will go in. And you know, use the the burmethod on then buy, renovate, refinance and then do it all over again. Andwe're picking up as many as we can renting them out to travel nurses to cashflow for top dollar. And it's been working out really well for us but we'restaying right around the four to five unit per per home

 

Dave Seymour 35:37

ice anddo you is your goal or is part of your business plan to maybe 1031 knows when thetime is right and upgrade them to a larger complex and at play the economies ofscale?

 

Noah Harris 35:48

Absolutely,absolutely.

 

Christine Harris  35:50

Yeah.And I and I feel like bees keep us safe. Like we know they make money now. And what'scool is depending on what you know, after the pandemic, it really kind of madeus look at like tenants and people we had and we were already air being beingwell obviously you know, when the pandemic happened, no one was traveling so wehad to think fast. But even with the new four unit we bought we have one longterm tenant who we bought she was the only one in there and now we're doingtravel nurses and I'm going to diversify the fourth one into an Airbnb just totest it out to see if it can bring more income. And what's great is whether youwant to be a hands on or off investor like you know if you want to leave greatyou can put your long term tenants in if you want to be hands on and you'reokay with that you can put your short term but it allows you the ability to bereally flexible and up up your income on it.

 

Dave Seymour 36:34

What isthe what are the price ranges look like down there it's kind of interesting, Iwalked a four unit property with some some local students if you will, andrevere revere Massachusetts around here and it was an absolute crack shack. Itwas a full unit it was you know you and I will walk in there and go all I loveit because of you know all the stank and everything else. And you know, theneedles on the floor and the doodoo, Khokhar and everything else. But thisthing for units was under agreement for $960,000. And it needed another 900 inrepairs to convert it to a six unit property.

 

37:09

WhatWhat can

 

Dave Seymour 37:09

you Whatcan you get for $960,000 in and

 

Noah Harris 37:15

grabyour waste bucket or something?

 

Dave Seymour 37:18

Gottaget sick.

 

Christine Harris  37:19

Yeah,you really

 

Noah Harris 37:23

give mean idea. So like the house, we just bought a property for 185. And it's asingle family house with a studio apartment that has another parcel connectedto it. That's a duplex. And that 185 will bring us probably we're hoping about$6,000 a month income.

 

Dave Seymour 37:45

Oh myLord.

 

37:48

Yeah.And you know, oh

 

37:49

my lord.

 

Noah Harris 37:50

So andwe've got we've got a couple just like that we did we purchased here recentlywe

 

Christine Harris  37:54

hadabout a little work into it. So the reason this was such a discount becausethis will appraise for over probably 350,000. The reason it's so good is I hada major foundation issue which is every house we have in our area, there is afoundation issue just because of the soil here but it scares other investors.And they won't do anything with it. So I we saw it my agent actually that camestraight off the MLS day, right you hear all the time now, there's no propertyon the MLS. You know, that's exactly where it came from. It was like sittingright there for everyone to see. But it was just it was a listing that didn'tmake sense, because you saw the house. And you're like, how is this a multimulti unit. And when we went saw it, I was like jackpot. And it really isn't inthe worst condition. We'll probably end up being all in about 228,000 once it'sall done.

 

Dave Seymour 38:43

So allin 228 and about 6000 in income on the property. Is that correct? Yeah. So Sofor those of you listening to the show right now, okay. You want to payattention. Think about what you have done in your life, I don't care whetheryou know, you got a little silverfox in you like I do in your early 50s. Orwhether you're in your 30s or your or your 70s It makes no difference. Thinkabout what we've done in our lives to create $6,000 a month in income. Thinkabout that. How much time have we spent away from our families away from ourkids that ball games that we missed? The nights that we've we've stayed upthinking oh my god, is that gonna be enough money to get me to the goal line,right? retirement number one fear in America? Is that mean your money diebefore you do, right? Think about that for a second. And the fact that you knowone property can can create passive income and that's the magical word passivemeaning Yeah, you got to do the work in the beginning. I know you guys propertymanage yourself is my best guess. Correct. But there's a point when you'lltransition over and say at time is more valuable than property managing sales.I'm gonna cross over that line to have enough units or doors that Somebody elsecan manage. And guess what? That that never goes away? never goes away. WhatWhat, what can you do with this passive income that you can't do right now?Let's answer that question for me because that's always a good one.

 

Noah Harris 40:14

Yeah,exactly. I mean, we live on the lake here. We got a beautiful lake here, LakeMurray and Christie, I take the boat out. Monday, Tuesday, Wednesday, Thursday,Friday, especially this year, right? Because there's nothing else to do. And welook around and we're the only boat out there.

 

40:32

Hey,Dave, hold on. There's

 

Christine Harris  40:33

houses,million dollar homes with huge, lovely boats that are just sitting there thatI've never seen move and I'm confused. I'm like, why would you have all of thisto never do it? Like you just want people to see what you have. I'm soconfused. It just makes no sense to me.

 

Dave Seymour 40:49

It's alittle interesting. People buy cars, boats and leather coats right to keep keepup with the Joneses.

 

40:57

That'sright.

 

Dave Seymour 40:58

How bigis your big screen TV? Mind your own business? How big is your big screen TV?Right? It's funny I've been I've been spending a lot of time on that new app.It's called clubhouse I know that you're in there. And you know I've been onsome pretty pretty powerful stages with some pretty heavy hitters Cardonecapital and, you know, some some pretty influential investors. And it's sointeresting because the conversation goes like this and you guys will lovethis. It's like, you know, I'm a millionaire. I'm a millionaire. I'm amillionaire. I'm a millionaire. Yeah, I got a phone. I got a boat. I got acoaching program and a book I got a coaching program a book and the Jets. Yeah.Where did Where did the real people go? Chrissy? What's this ready? Christy'sideal day in Colombia. A morning run in saluda shoals Park, and a cooling offday on Lake Mary. Look at you girl. It says it right on your bio right there.That's what that's what passive income does for us as real estate investors. Onthe pontoon boat, little fishing little guys go where they were in their lifejackets. I know I see it on Facebook. I'm watching. I'm watching. So let me askyou a question. When it comes to structuring these deals, do you use the bankcost? That's the way to go? You're not those crazy people who use credit andother people's money to do these deals? Are you because that's just horrendous?How do you structure the finance bro?

 

Noah Harris 42:35

Yeah, soyou know, this is a part of the business I really love is the private moneylending aspect and raising capital and, and we absolutely use other people'smoney to fund our flips. And, and, you know, that's how I've been taught to doit. And I can't think of any better way to do it. Nothing wrong with using yourown cash. But I find it so rewarding to be able to not just personally but tobe able to help people retire, help people make money on their money, andcreate Win Win scenarios where we're funding our flips. And we're able to givepeople great rates of return on their money. Yeah, just we fund using privatemoney. And then for our long term buy and holds. We will fund the initialpurchase renovation using private money and then turn around refinancing with amore traditional lender.

 

Dave Seymour 43:22

So theprivate lender goes in there it gets a rate of return that they can't getprobably anywhere else, especially not in a CD, which is a certificate ofdeath. Right? Right. Right. Right. They're probably not they're probably notgetting it in a note getting it in a in a savings account. Oh, and by the waythat the tea bond, it almost got up to 1%. Recently, almost Wow, almost got upto 1%. So we know that that's just an I gotta go direct. That's just straightup stupidity that's killing the capital, because inflation is outperforming anyof those types of investments. We got one minute left. If you could, if youcould say one thing to inspire people to get money working to get involved tolearn more, what would you say to them? What What advice would you give as amarried couple kicking butt taking names? What would you share with them?

 

Christine Harris  44:12

Yeah, Iwould say Dave, I grew up in a family, a work hard family, and that wasingrained in me. And like I said, My dad was a farmer. He lived his whole life.I never saw him literally working. And it's 74 years old. We have like a newbonded relationship. Just being a parent adult and my mom, I was fortunateenough to have a stay at home mom that was always with us. But they reallyingrained in us work hard. And I believe in that. But guys work smarter.There's ways out there enjoy your time. Life is so short, we spend time tryingto impress everyone in the world with what we have and do just worry aboutmaking money and being happy. And I think if you can do that, I know real estate'sthe way to do it. So just do it. You know, get out of your own way. That's mybest piece of advice if the pandemic hasn't taught you that. I don't know whatwill.

 

Dave Seymour 44:55

I loveit. No, I'm not even going to ask you that you can't beat that. You can't beatShe took all the glory she took it all and she deserves it.

 

45:04

That'swhy she was the number one coach.

 

Dave Seymour 45:06

I loveit. You guys have been awesome I really appreciate you spending time with somereal estate revealed if anybody wanted to learn more about you and yourbusiness where could they go?

 

Noah Harris 45:17

Welldon't don't bother with me but you can go straight to Kurdish these website.Christy Beckett comm ch e TT

 

Dave Seymour 45:26

Christydocket calm I'm gonna go there I'm gonna put my information in I want a newcoach rather much love guys I appreciate you. I'll catch up with you real soonand I'd love to have you come back on if you can give me some time in the nearfuture Sound good? Thanks awesome Don't go away guys. You're listening to realestate revealed the duck family that the Harris family kicking butt takingnames. All right talk so

 

Intro Voice Over  45:58

realestate revealed We'll be right back. Thinking of purchasing a new home second homeor investment property or maybe refinancing to get a lower rate, consolidatedebts drop PMI or need Pashto to do Home Improvements George kudos mortgageOfficer of cross country mortgage and Danvers is just a loan officer you willneed as Essex County's top loan officer with more than 8000 past happy clientsin over 30 years experience George and his team will be happy to assist youwith rates the lowest in history Don't hesitate act now you may be able to save1000s of dollars call George at 97877746 630

 

Dave Seymour 46:37

you everwondered how to create cash flow outside of your job income or retirement plan?Have you considered large commercial real estate assets? Do you know what analternative investment strategy is? With tune in for all the answers on my showreal estate revealed this is Dave see my might recognize me from the hit TVshow flipping Boston. I'm also the CEO and co founder of freedom ventureinvestments to smarten up your real estate now by tuning in every Saturday. Forall investment details, visit us at info at freedom ventures.com slash 104point nine call my team at 781-922-4418. Steve molestus

 

47:10

ofSolaris realty has intimate knowledge of the North Shore market with over adecade of experience and record of 300 real estate transactions. When it's timeto buy or sell property, give Steve a call directly at 617-763-1001. That's617-763-1001

 

Intro Voice Over  47:38

you'relistening to real estate revealed with Dave see more from Amy's flipping boss.

 

Dave Seymour 47:44

I tellyou I love and I mean that with a capital L I love doing this show every week,I get I get to pull in some some, you know just intelligent, excellent,interesting, engaging, inspiring, entertaining people to talk real estate. Andyou'll notice we're not talking about you know, putting in a new fan in thebathroom. We're not talking about painting the siding, we're not talking abouta little bit of landscaping and a new path to the front of the house. We'retalking about stuff at a more intense level, I think we're talking about howreal estate has been the vehicle that wealthy people have used for generations,generations to create confidence in retirement to create wealth, to give somehis his what it is. I was on a call this week. And that the topic of theconversation was from a book written by Napoleon Hill, it's an old book, it waswritten early, early part of the the 20s. I don't know maybe 1905 to 19 2009when it was ripped, but it was written by a guy by the name of Napoleon Hilland it was called thinking grow rich. And the topic of conversation aroundthinking Grow Rich was you know, does money make you happy? And I think youknow, I think poor people say No, it doesn't. And people with some financialdebt. Say No, it's not the money that makes you happy, but I can make happierdecisions with money. I can sleep a little better at night. here's here's whatI found. Real Estate has allowed me better choices. I don't look at a menu andconsider how much the food costs. I look at a menu and consider whether I wantto try the food on the menu. When I when I am blessed to be able to travelagain. I travel in the style that I choose to travel in not because I have totravel in it. Now somebody might listen to that and say listen to thisblowhard, talking about how he can travel And how we can do this and do that.But here's the truth of the matter. It wasn't always that way. I was very goodat trading time for money paying into a company 401k or, or even a citypension, you know, the city pension for my career as a firefighter. Some peoplewould say, Hey, you got a job as a firefighter, you're styling and profiling,Dave got a city pension, it's all good. Well, it wasn't the case. For me. Iwasn't competent in finance, I didn't understand how to make money and keep it.You know, I was the person who was always excited about getting that tax returnthis year. And you know, who you are, you're listening to me, you filed yourtaxes as quick as you could. So you could get that 3000 4000 $5,000. You know,refund. I don't know what the situation is in your life today, whether it's,you know, a $5,000 refund so that you can pay bills, buy food, pay your rent,pay a mortgage payment, I don't know, I get it, you know, it's a little bitdifferent today than it was, you know, two, three years ago, the COVID pandemichas created unheard of challenges and just horrible scenarios that people arefacing. And I am very, very conscious of that. But one thing I will say is, isthat I learned that the decisions I make them out around money around capital,have put me in a position where I have the resilience to face those things. AndI don't know if it would have been the same way in my past life when I wasworking three jobs. And I was firefight and working construction and stop andshop. So I don't know if I would have been in a position of ability that I amtoday. So the question that somebody may want to ask themselves is, well, ifthat guy can do it, what is he doing? And can I reproduce it? And the answer tothat is a resounding yes. You heard from from Noah and his wife, Christy, theyfigured out a way to make real estate be their engine for financial freedoms.And it doesn't matter where anybody is in their life today, you can alwayschoose to do something different, which is why I talked about talked about thenew year's resolutions. How did you do? Did you set some financial goals? Didyou look to grow your retirement accounts this year better than you did lastyear? Do you want to create passive income where you don't have to trade timefor that money? I don't know. Only you can answer that question for yourself.And if you're complacent and comfortable, then you might as well turn the radiooff right now. But if you're looking for options that wealthy people have been usingfor generations, you might want to keep your ears wide open, because I'm aboutto share something with you that can absolutely and totally change somebody'slife. And that's the ability to invest in real estate at the institutionallevel, and yet not need the institutional capital that most people believe isnecessary to be involved in commercial real estate, which is what we do at avery high level. I am the CEO and co founder of freedom venture investments,right, this phone number down 78192244187819224418, you can call us directly,you can visit our website at freedom venture.com. Now, when you get there, orwhen you call here, the questions that you will want to ask is this. What doesit look like to have my money working in a commercial real estate environment?How does that work, and it's real simple. We pull capital invest the capitalthrough a real estate investment fund, our fund will then purchase largeapartment complexes in the Gulf Coast region of Florida. We buy what's calledan underperforming assets, we take that asset 40 to 150 units is where we liketo focus our attention. And what we do is is we reposition it, we make theproperty more valuable. And the way we do that is is we get rid of crappy badproperty management. we eliminate them the overpaid, bloated managementcompanies that have been hurt in the prior owners of the properties, we get ridof them. We look at our tenant base, we raise the rents a little bit if it'snecessary. We do repairs if it's necessary. We make the unit's nicer to livein. People just want safe, affordable housing. We do all of that work. Thenwhat we might do is is we we might lease up the empty units. We might do someexterior landscaping, we might even change the name of the apartment complex tocreate a new sense and feel about that. And then what we do with that is is weincrease a number, write this down and oh I that stands for net operatingincome when we increase the noi We increase the value of the property, becausethere is a formula that is used in commercial real estate. And it's called thecap rate or the capitalization rate. The cap rate is the, the the interest ratethat an investor would expect to get when buying this kind of asset. And whatwe do is is we raise the noi, we divide that by the purchase price of an asset,and that gives us a cap rate. So what we do is, is we look at the market we'rein so in Florida, for example, most of the trade or cap rate in the Floridamarket where we are is around a six or a six and a half percent. So when we goin there and raise noi on these properties, we can start buying these assets ata at a higher cap rate, creating value in the assets going forward. So whatdoes that mean to you as an investor what it means that you get to participatein cash flow? We talk it out double digit returns to our investors. And mostpeople say, Oh, that's not possible. Well, it is possible I've lived in theworld of double digit returns my whole career as an investor. So our investorsget targeted returns anywhere between 10 to 14%, what's called cash on cashquarterly distributions, then they also get to participate in the equity whenwe sell the properties. So let me ask you a question. What would it be like, ifinstead of sitting in the volatility of the stock market, hoping for a six anda half, or 7% return, you were leveraged in the real estate marketplace? Wouldyour retirement accounts look a little more robust, right? Or do you have moreconfidence going forward? And what would it be like if maybe three, five or sevenyears down the line, you've got a larger distribution of capital because wesold the assets that we all bought together as a team? So it's teamwork. And Idon't want to sound corny, but teamwork, make the dream work. Why don't youleverage at 25 plus years of experience of doing exactly what I just describedto you buying underpaid, underperforming commercial real estate assets,repositioning them, making them more valuable, and learning the game at thehighest level possible. You don't have to sit on the sidelines and watch whilethe rich keep getting richer, accredited investors, the the, the the retailinvestor, the person who can now look at that play, look at that game andparticipate. And all you have to do is pick up the phone or not go to the websiteor not. If you do, there's a potential for change. If you don't, wow, guesswhat? Nothing changes if nothing changes, right? We've heard that before. So myname is Dave Seymour. I'm the CEO of freedom venture investments. We are hereto answer any questions you have. accredited investors are welcome to touchbase with us. Google what that means you'll know whether you're qualified ornot, but do not disqualify yourself from a conversation. Learn. those that seekshall find on our website, there are a couple different tabs at the top whereyou can get really familiar with how we run our business. I'm excited to talkto you whether you have an opportunity to invest with us or not. I just lovethe conversations. I love opening up new doors for people to walk through anddiscover what changed my life personally, almost 1112 years ago now change thelives of people like Christie and Noah change the lives of people like ElliePerlman that we've had on the show. Real Estate has always performed and willalways perform, if done professionally with experts. God bless I'll see younext week and remember, take good care of each other. They've seen more

 

Intro Voice Over  58:44

realestate reveal any securities being offered are under an exemption provided bysec regulation D rule 506 only accredited investors who meet the SEC regulationd 501. accredited investor accreditations standard form provides suitableverification of accredited status may invest into these offers. Any historicalperformance data represents past or past performance does not guarantee futureresults. Soon again next Saturday, real estate revealed hosted by DavidSeymour, the star of Amy's leaving Boston and CEO of freedom ventureinvestments in Denver.