The Chris Voss Show - The Chris Voss Show Podcast – From Broke to 2,500+ Real Estate Units: Anders Jacobson’s Journey

Starting point is 00:00:00 You wanted the best. You've got the best podcast. The hottest podcast in the world. The Chris Voss Show. The preeminent podcast with guests so smart you may experience serious brain bleed. The CEOs, authors, thought leaders, visionaries, and motivators. Get ready. Get ready. Strap yourself in. Keep your hands, arms, and legs inside the vehicle at all times because you're about to go on a monster education roller coaster with your brain. Now, here's your host, Chris Voss. I'm Moses Voss here from thechrisvossshow.com. There you guys go. When the lady sings it, that makes it official. Welcome to the big show, my family and friends.

Starting point is 00:00:46 We certainly appreciate you guys being here. We want to say a big shout-out welcome to our new January audience. I don't know what's going on. Evidently, we can only attribute it to New Year's resolutions, people that are joining the show. The show has been around for 15 years. We're approaching 10 million downloads, and we are exploding at a 300% increase in downloads in January.

Starting point is 00:01:10 So that's a lot compared to what we normally do on a monthly basis. I mean, it's not like a new show where you had zero downloads, and now we're up 300%. It's a lot of downloads to go up 300%. So welcome to the new crowd that's coming in January. We're calling it the gym effect, basically i guess everyone made news resolutions listen to podcasts and improve the quality of their life and that's definitely what we do here the ceos the billionaires the pulitzer prize winners the amazing journalists and anchors from different news channels astronauts you name it with all the people that come here they share their brilliant ideas their life stories

Starting point is 00:01:43 how they overcame their adversities and everything else else. And as we always say on the show, stories are the owner's manager to life. So if you're new to the show, please, if you get a chance, refer the show to your family, friends, and relatives. Go to goodreads.com, 4chatschrisfast, linkedin.com, 4chatschrisfast, chrisfast1 on the TikTokity, and chrisfastfacebook.com. We have another amazing gentleman. He's going to be sharing his amazing story on the show of how he went from a door-to-door salesman, how he went from being broke to having 2,500 plus real estate units. And he's a multifamily real estate you as an investor and invest in some of his programs to get your finances straight and make a buck or two or three or four. It's always good to make at least one. So there you go. Anders is an investor, speaker, entrepreneur, and founder of Brighton Capital.

Starting point is 00:02:41 Prior to multifamily, he built two multimillion dollar businesses in the door-to-door sales industry. And that is a tough industry, folks. I've tried door-to-door sales. He has also, or he's always had a passion for real estate from single family and fix and flips to short-term rentals and multifamily. He started investing in multifamily in 2017 and his ownership in 2,500 plus units in Texas, Florida, Georgia, North Carolina, and South Carolina. His mission now is to provide a vehicle to thousands of others to achieve freedom over their finances and time. He lives in Raleigh, North Carolina with his beautiful wife and amazing children. Anders, welcome to the show.

Starting point is 00:03:20 How are you? I'm great, Chris. Thanks for having me. Thanks for coming. We certainly appreciate it. And what a great story this is going to be. Give us your dot coms. Where can people find you on the interwebs?

Starting point is 00:03:31 Yeah, easiest way is just brightoncapital.io is the easiest way. You can join our investor club and set up a call directly with me. There you go. So give us the overview of your journey in life, the story of going from broke to now being hugely successful in the real estate realm. Well, I'll try to sum it up here. It's been a long journey, but I'll take you back to 2011 is kind of when it started. I found myself sitting on the sidewalk in Detroit, Michigan. I was in a random neighborhood.

Starting point is 00:04:10 I was completely broke and was thinking to myself, how did I possibly get in this situation? So I had signed up to sell home security systems door to door for the summer and been recruited to go to Detroit, Michigan, which had a lot of crime at the time. They were the number two most dangerous city in the country. And I couldn't believe I was in this situation because two months prior, I was cutting down the nets. We had just won a national championship in basketball and I had been named the MVP of the tournament. And so I'd kind of been riding this high and then received a call from my dad a couple of weeks later, letting me know that they had lost a ton of their money. Half my dad's 401k. Oh, wow. And my college fund that they had, or not college fund, the college savings they had had to help me pay through college were gone.

Starting point is 00:05:07 The school I was going to had scholarships and I had the max athletic and a little bit academic, but still had to come up with a decent amount of money to pay my way through. And so I had taken this door-to-door job to, you know, figure out a way to stay in school and stay on this team that we had just won a championship for. And so as I was sitting there on the sidewalk, I had been dropped off. My manager drove a minivan around and just dropped a bunch of 19 and 20-year-olds off in neighborhoods and said, good luck. I'll be back to pick you up at 9 PM. And so I didn't have a car. There was no way for me to get out of there. I had about eight hours left until I was going to get picked up. And so I decided right there on that sidewalk, as cars were driving past me, looking at me like

Starting point is 00:05:59 I was crazy that I was going to at least try. And so I had received a whopping two hours of training before I was put out there and not just training. I was just shadowing my manager. So I just saw what he did and then he said, good luck. And so luckily I had recorded his kind of sales pitch on my phone. As I sat there, I pulled out a piece of paper and a pen, and I just listened to that sales pitch on repeat for about 30 minutes. And I wrote it down line by line and then sat there and memorized it and got up about an hour later. And I sold two deals that day. And long story short, I became the highest rookie salesman that summer and ended up paying my way through school and kind of launched me into a door-to-door sales into the industry and ended up starting two businesses in it. There you go.

Starting point is 00:06:59 Ends up being a seminal moment in your life. Sometimes we have those bottoms or what seemed like bottoms at the time or these markers where we go, where, you know, we make a decision and we say, you know, enough of this. I'm not taking this anymore. I'm going to do something and I'm going to make this work. And, you know, some people will fall to maybe doing a pity party for maybe a little while, or maybe they'll take a lifetime of pity party and play victim but it sounds like you you made the choice that like okay well i'm gonna pull myself up by the bootstraps and make this work somehow yeah i mean i feel like when you're you you really learn your true character when you're your back's up against the wall and i i knew i was a fighter I knew I was a problem solver and that that moment was definitely pivotal for me and put it into action there you go you know it's interesting I look back

Starting point is 00:07:54 on some of those moments of my life or some of the moments when I started a business you know I said let's quit fighting around with this and I started a business and then I look back and I think Jesus if I'd made a different choice how different my life would be like you know and you're just like thank god you did that back then you know yeah what's funny is I was in in school my dad's a dentist and nothing against dentists at all but I was planning to take over his practice and become a dentist. And after being in sales for a few years, and then, you know, shifting into the solar industry is where I started my companies. I had 17 credits left before I took the test and applied to dental schools.

Starting point is 00:08:41 And I left for the summer, planned to come back and finish up those credits. And I went to sell solar panels in Charleston, South Carolina, and it went so well, I never went back. I called my dad and told him that, hey, I don't think that I'm going to be a dentist. At least I need to try this out. And to his credit, he's great and supportive and said, I don't blame you. I'd do the same thing. But yeah, I can't believe where my life would be if I didn't have that moment on the sidewalk. And you know what the great thing is? I don't know if you took it from this perspective, but learning sales, just the advent of sales is one of the greatest skills, especially if you don't go to college, you can learn.

Starting point is 00:09:24 Because if you learn sales and you get good at selling people and understanding people and being a good salesman, you can transpose that skill onto just about any industry. I mean, it's whether you want to be the CEO or an entrepreneur of your own company, whether you want to sell housing like you're doing or whatever you want to sling, really, sales slinging. Did I just say a term for the 50s? But I'm old people. I'm like, we can tell. So slinging sales, man, slinging cars. I think that's where I got that term from, slinging cars. But those sales skills are so important. Did you find that you were a natural sales person or did you kind of have to develop? Not at all.

Starting point is 00:10:05 Yeah, I definitely developed it. I was scared to death to go knock on my first door. I really just memorizing the sales pitch for that first month or two in my first summer in sales was huge for me because I just, I wouldn't say that I'm the greatest salesman, but I'm very good at copying what good salesmen do, kind of rinse and repeat. And so I try not to reinvent the wheel, try to keep it super simple. But yeah, to your point, it definitely, I feel like sales translates in every industry, any entrepreneur, even now, you have so many social media and influencers, they're essentially selling themselves a lot of times. Yeah.

Starting point is 00:10:51 I do that on my OnlyFans every day. No, I don't. It's an OnlyFans. It's a callback joke on the show, people. If you Google that, there's something wrong with you people. Anyway, Chris Voss, OnlyFans. There's plenty of Chris Vosses. There's probably somebody who's going to Chris Vosses. There's probably somebody

Starting point is 00:11:05 who's going to do that eventually. I'm just going to hate myself and change my name to something like, I don't know, Prince Symbol or something. So how did you get from there, the door-to-door sales into real estate and what you're doing now? Yeah, that's a great question. So I was newly married in 2015. I thought I needed to start investing my money. And the only thing I'd ever heard anybody invest in was the stock market. And so I, like a, you know, a great savvy investor, I put all our money in one stock because I heard it was going to blow up. And I was in the solar industry and this was the largest renewable energy company in the

Starting point is 00:11:44 world at the time. So I figured it was a safe bet and long story short the company went bankrupt they were doctoring the books doing a lot of crooked stuff and yeah they went bankrupt and we lost a large chunk of our money and my wife stayed with, luckily. And I remember thinking at that moment to myself, this will never happen again. I'll never let this happen again. Another one of those seminal moments. Yeah. I decided at that time that I would figure out a better, safer way to invest our money. And I started reading tons of books, listening to podcasts, going to in-person events, and just studying what the ultra successful people in the world were doing. And the one common denominator that I

Starting point is 00:12:41 continued to find was they all invested in multifamily real estate and commercial real estate. And so I took that knowledge and I started to implement it and investing in properties passively because as a salesman and then running my own companies, you're always working for your money. And it's this constant kind of hamster wheel of you make a bunch of sales. It's exciting, but then you wake up at zero the next day. You're always starting at zero for the most part every single day. And it was exhausting, draining, and you have sales commissions coming in, or if you're an entrepreneur and you sell your business, you have the sales proceeds, but

Starting point is 00:13:25 then there's no other income source. And so I found that multifamily real estate and commercial real estate could be a steady stream of passive income that was reliable and really could multiply my income substantially with also receiving tax benefits. And so that's how I got into it. There you go. And so, and you probably found like it was more of something that you could control as opposed to, you know, what you invested in and they lost your money. A hundred percent. Yeah. I learned that a long time ago about owning businesses and especially partners is like, if you don't own it, you don't own a majority of it, you don't control it. It's not really yours. It can be easily taken away. Yeah. I joke with some investors when new investors, when we first chat and I say, I love real estate because yeah, I can control it.

Starting point is 00:14:16 It's very NOI based and the value based compared to I invest in a stock and the CEO of that company says something or does something on a podcast or puts out a tweet and the stock can plummet. You just never know and you have no control over those companies you're investing in. Yeah. And so now you have more control. So you built it now into passive investing and from passive investing to what you're doing now. Tell us, give us an overview in your words of what you're doing now and how you're doing it with Brighton Capital. So we at Brighton Capital, we find properties, 100 plus unit apartments, and we're branching out into other asset classes now in 2024. But we buy 100 plus unit apartments. We bring on investor partners who want to invest in real estate, but don't have the time,

Starting point is 00:15:14 energy, or know-how. And we buy these properties. They're completely passive. We operate, manage the properties, send them passive income every single month. And within five to seven years, we sell those properties and return twice as much of their initial capital back to them. Nice. Now it mentions high quality commercial properties. I know there's different tier to different properties. Are they class A's, B's, or C's? Yeah, we buy class B mainly. The lowest will go C plus. We like value add properties. So we buy in emerging markets that have steady population and job growth, crime on the decline as well. And we buy these properties, we renovate and update the units, really increase the living environment for the tenants and increase the curb appeal. And then we sell those properties.

Starting point is 00:16:16 There you go. And what are some of the benefits of investing in these sort of commercial properties in the areas that you're in? So huge benefit is one, I mean, you receive passive income stream, you diversify your portfolio if you're a heavy investor, but also you have a ton of appreciation because these markets are growing steadily. Like we just bought a handful of properties last year in Savannah, Georgia. It's one of the fastest growing markets in the Southeast. And also we invested in markets like Charleston and Mount Pleasant, South Carolina. They're just heavily, heavy growth markets that you're seeing so much migration from

Starting point is 00:17:00 the Northeast, Midwest, even out West where they're not slowing down to just great weather, tons of job opportunities, and there's a lot of a forced appreciation in these markets. Definitely. I mean, there's been a huge movement, I know, into Texas from California. A lot of people moved to California. In fact, I think Elon was a big proponent of that, and I think he's building something new. I don't know something something for twitter i think it is or x whatever it's called this week bankruptcy next week the but you know there's there's all sorts of growth there i've heard a lot of people moving there i don't think some of them are happy with the ice storms in texas and the cold but you know it only lasts for a little while you know poor californians

Starting point is 00:17:43 they're used to sun 24-7. They get a little cold and they lose their minds, but they'll live. Austin is a great place. Texas is a great place for barbecue. The only reason I don't live in Texas is because I would be eating barbecue 24-7. I weigh like 5,000 pounds. Whenever I go to Austin for South by Southwest, I'm like, I eat so much barbecue. I think I sweat barbecue on my pores for like a week later. It's just, it's way too much meat, but it's so good. So, you know,

Starting point is 00:18:12 what can you say? So now do people to invest in you, you've got some funds available. I understand how to tell us how those work. Yeah. So currently we, we have a few properties that we have LOIs out on. We also are about to open a Airbnb or short-term rental fund. Oh, wow. But yeah, when we find properties, we always do due diligence first before we announce them. We make sure these properties are here. We're actually going to keep them under contract, make sure we don't run into any major issues. And then we announce to our investor pool. We let them know. going to keep them under contract, make sure we don't run into any major issues.

Starting point is 00:18:50 And then we announce to our investor pool. We let them know, we do a webinar, announce, then announce the process, answer any questions. And then if it's an opportunity they're interested in, we make it available to them. So do you guys have a community for investors or potential investors that can, you know, they're up on what you guys are doing and can invest in future projects? Yeah, absolutely. So if you go to our website and join our investor club, you'll stay up to date. We send out newsletters, send out all future properties and funds that we make available so you have access to them. And then if anybody has a specific question, they have direct access to me being in the club. There you go. So do you work with

Starting point is 00:19:29 accredited investors or non-accredited investors? How does that work? It's a great question. And this is a topic that many investors run into or have questions about. So most of our deals are 506C offerings, which means we only accept accredited investors. And accredited investors, for your listeners who don't know, make $200,000 personally, $300,000 combined with a spouse or have net worth of a million plus. That is really the definition of accredited. And so if you fit into that box, you're eligible to invest in most of our deals or all of our deals. We do, unlike many other groups and firms,

Starting point is 00:20:14 we really want to offer 506B offerings, which allow non-accredited investors. There's so many investors out there that want to get into real estate, but are limited because they're not accredited. And so I have lots of friends and family who have fallen into that bucket and being able to, you know, offer them opportunities like this with the same returns as an accredited investor would receive has been, you know, amazing for me. And I really love that. There you go. So there's opportunity there. So you talk about something called the five freedoms and helping people build wealth. Tell us what those are and how those work, if you would. Absolutely. So everyone, for the most part, talks about financial freedom. Some mentioned time freedom, but the five freedoms are financial freedom, time freedom, freedom of relationship, freedom of geography, and freedom of impact, which, you know, of course everyone wants to, you know, have enough money or have money coming in that covers all their expenses and gives them that freedom, the time freedom so they can do what they want to do, the relationship freedom

Starting point is 00:21:30 so they can do what they want to do with who they want to do it with. And then the geography, just being able to do it where they want to do it and the impact, just being able to give back and choose who they want to help in their life and then throughout the world. There you go. And so it makes all the difference in the five freedoms. You should write a book about this. Have you started a book yet? Working on a book this year, actually. There you go. That would be interesting to flesh that out. And excuse me, the the freedom of finances doing what you want that's so important to have that sort of power and the nice thing about people who work with you

Starting point is 00:22:11 and your passive real estate thing there's two things i want to cite off your website here one is stability real estate is less volatile and has historically outperformed the s&p 500 so if you're looking for great returns that that's an ideal thing. And then of course, zero hassle with investors who receive passive cashflow. Most people that are making 200 grand plus, they're really busy, I know. And they just have insane amounts of busyness. And so they don't have a lot of time to do stuff, but they have the cash to invest in different projects. And so being able to put money into something that they don't have to have the hassle of doing evictions and the termites, toilets, tenants, this breaks down, whatever. I know I have a few great friends that they do their own personal real estate rentals and stuff.

Starting point is 00:23:00 And some of the nightmares I see them dealing with, you know, I've seen, they've had, they've had renters that they've evicted the reports, you know, concrete pipes in retribution. You know, they've, they, you know, they, they're, they're out there. I see them out there helping put it on a new roof. And I'm just like, I'm not doing that, but you know, they, they, they like it, but it's just like, that's how I how i i mean that's what pushed me into multifamily specifically i was investing in multifamily but i had a few people in the industry who did fix and flips wholesale or just like oh yeah this is what the numbers look like you should try it and it looked good and i thought it was going to be somewhat passive because I kind of delegated and had the right people in place, but it was not.

Starting point is 00:23:50 And I could do a whole podcast or two just on one of my properties. But the story of the concrete, you're just telling I had a tenant who he didn't like the property management company that I had hired and ended up smearing peanut butter and jelly on the walls, dumping it on the floor right before we had a inspection. It was, yeah, there's all kinds of stories, but it made me want to shift into multifamily and try to create a more passive lifestyle for my income. Yeah, I would never. I just walk in and I just burn the place down and collect the insurance money or wait, is that mob talk? There you go. So the freedom to, I'll get back to this then the freedom of finances, doing what you

Starting point is 00:24:36 want, you know, that's really when you become successful, when you make a lot of money, you're the freedom to be able to do what you want. You know, I've worked from home since what, 2004? I was doing work from home, remote work before you guys all joined me in COVID. And it was freeing, being able to run my companies from different states. Well, not having to be in that state was great. The freedom of being able to do what you want is so important. And of course, freeing up your time a little bit too, where you're not, you know, owning companies and being an entrepreneur is, you know, it's a 24-hour business, 24-7.

Starting point is 00:25:11 And people are like, hey, you on a vacation, Chris, on Labor Day? I'm like, what's this vacation you speak of on Labor Day? No, I do vacations, but we get away on weekends and stuff. But having the freedom is really important. Having the freedom of time, of course, plays into that. Freedom of geography, being able to go anywhere you want, whenever you want. If I want to take the rest of the day off,

Starting point is 00:25:33 I mean, I have some appointments today, but if I want to take the rest of the day off after that and go do whatever I want, I can. It's pretty nice, partially because I'm single and I don't have any kids, and I can literally do what I want, where I want. I can work anywhere in the world. Freedom of relationships with whom you want. That's the other reason I'm single. Let's leave that joke on the table. Freedom of impact while always giving back. You know, giving back is really important too. You feel so much better.

Starting point is 00:25:59 You feel so much more gratitude and grateful for what you do when you give back to people and you see the impact you make and you you see the value of what you're doing and working so hard for means so much more than just kind of a selfish nature of it where you're just like i'm making a lot of money you know being able to help other people give back lift other people through rising tide it just makes it so that you're like being at this level makes it so i can help so much more people. And it just makes all the difference in the world, really, when it comes to giving back. Yeah, 100%. I think the amount of money you make allows you to make a broader impact.

Starting point is 00:26:37 I'm not saying you can't make an impact without making a lot of money either, but you can just make us such a wider, you have such a wider reach and can affect so many lives. If you're willing to put that money into specific areas or nonprofits or create your own nonprofit, whatever it may be, but you can definitely impact communities and families forever that it's hard to do without the financial freedom. There you go. So how can people onboard with your website? They can get to know you, check out some of the resources and stuff that you have on there. Yeah.

Starting point is 00:27:17 So right when you hop on the website, there's a button that just says join the club and click that button. It'll take you to a quick little page where you can fill out your information, ask a couple questions, submit that, and you'll get a, you'll join our email, our, our club, our investor list, and you'll get updated on everything. You'll be able to, again, set up a call directly with me, or we can go over your goals, what you, you know, your main interests in investing, specific asset classes, whatever it may be. And we can really customize kind of a plan of what you're looking to do. And I can bring the right assets and properties your way. And then you'll also be updated on any news in the industry

Starting point is 00:28:03 and get our investor newsletter. There you go. What's your outlook for the future of real estate and stuff? I know that I think by the last I read, we're short about 7 million units in real estate in this country where we just haven't built up enough to keep for demand. And there's a lack of inventory. And then of course, a lot of the people in the housing inventory for single-family residents, they refinanced at those 1% to 2%, whatever those interest rates. They're not giving those homes up.

Starting point is 00:28:34 They're not selling. They're going to hold on to those babies for probably forever. So we're kind of seeing this boom in the multifamily real estate because it's more affordable for a lot of Gen Zers and probably millennials a bit. What's your outlook for the future of real estate? Real estate interest rates will probably be going down this year too with the Fed. Yeah, we hope so. We think that the rates will start coming down. Like you said, there's an extreme shortage of housing. And so there's no slowing down on the multifamily side. There's the largest gap we've

Starting point is 00:29:08 seen between rental prices and mortgage prices in the last 50 plus years. So more and more people are renting because it's over $100 to $200 more to own your own property right now and pay a mortgage compared to renting. So that just brings in more and more renters. We also, I mean, during COVID, prices were just so artificially inflated. We saw a 20% to 30% price increase, and there wasn't really a reason for it. And so now we're seeing those prices to come down. We're getting a 20 to 30% discount, but kind of back to where properties should be. And we're able to acquire those and get creative on the financing side. Our last property, we were able to secure seller financing,

Starting point is 00:30:01 which means we didn't have to use the bank. We're just paying the seller directly and worked out, really customized the terms we wanted. And the property before that, we were able to assume the loan at 4.6%. So there's ways around the interest rates and what we're seeing now, but we definitely have to get creative and we're able to secure properties at a lower cost. Where a lot of people really got themselves into trouble was during COVID. They bought properties and they secured kind of floating debt or short-term debt that had balloon payments. And so they were banking on a nice refinance after two or three years. And now they're going from a three or 4% interest rate to seven. And the numbers don't,

Starting point is 00:30:52 you know, they don't work. And so they're really in desperate times. So operators like us who are looking to buy can, we can help each other out. It's kind of a win-win where they don't have to foreclose or lose all their investor money. And we can come in and buy a property at a pretty substantial discount and really make it a valuable opportunity for our investors. There you go. I really think that the government, maybe Freddie Mac, Fannie Mae, I don't know how much power they still have anymore. I'm out of the mortgage business. But that or maybe the Congress needs to make some sort of stipend to enhance building of

Starting point is 00:31:31 more homes or something, like some sort of, I don't know, tax benefit. I mean, they already get a tax benefit deductions, but some sort of thing to kind of boost the home building market, I think. I don't know. Yeah. I mean, mean right now too we're seeing a big drop off we we mainly you know play in the the value add space which is properties that are built in the 80s and the last you know 40 years or so um and we come in they haven't those properties haven't been well upkept or kind of been mismanaged or undermanaged, we'll come in and revamp them and make them look brand new, where a lot of people who are kind of their buy box or their playing field is in the construction, we're seeing a lot of them kind of take a pause.

Starting point is 00:32:20 They're halting on taking on new projects just because the cost of materials has skyrocketed. Yeah, a lot of them are actually reaching out to us and saying, hey, how can we help do or invest in some value add deals while we kind of wait out this period and hope costs come down on materials? Yeah, I think the Fed has finally figured out that we live in a different economy when it comes to M1 and M2 policy. And normally they would cool the economy through layoffs and raising rates and stuff. Although we're seeing layoffs now, but the layoffs now are attributed to AI, not necessarily to the Fed costs of raising rates. And I think they've determined that we live in a, we also have a lack of employee employees in this country because the Gen X and some of the Gen X and the boomers retired early with COVID. We knew they were going to eventually the market, but they, they've, they said, we're fucking out of here. And they accelerated their leave. And so that's why employees are have this

Starting point is 00:33:22 more power in unions and stuff. And so there's so there's going to be higher demand for them and what they're doing. And I'm sure that if people want to pull them across country, they can do it. But I think they've kind of figured out that that's the new normal and that it's kind of okay to have an inflationary rate that's kind of operating a little high, they're just not going to be able to tame it because we kind of live in a hyperinflation sort of area because of the lack of enough employees, lack of enough housing. It's kind of something they've just got to figure out how to ride through until, you know, productivity, well, not productivity, but basically inventory supply opens up better. And I mean, I think AI is going to be that squeeze that kind of, we're getting into the technological Silicon Valley crap, but I think AI is going to be that squeeze that shortens that term where companies aren't fighting so much for employees because AI is kind of replacing that. So it's going to be a really interesting curve, but I think they're going to turn the interest rates down over the next year. And they're just going to realize a certain amount of productivity growth and maybe a little bit of inflation is kind of the new normal because hopefully it trickles down to

Starting point is 00:34:29 everybody that sounds very reaganist and very i just i just went i just went full full liberal the don't do that folks the liberalism is bad but hopefully it will you know start showing up on people's things and it seems like it is people are spending money so they're the you know, start showing up on people's things. And it seems like it is, people are spending money. So they're the, you know, the, the people, what people are spending is so crazy. Although I think some of it's on credit cards.

Starting point is 00:34:50 So it'll be interesting ride. It's a different world than what the fed was used to and what we were all used to. So we'll see how it plays out. Yeah. I'm, I'm waiting to see, you know, I got the popcorn ready to see what happens this year.

Starting point is 00:35:04 Cause you just never know. You hear, I my industry, some we really can do is buy properties based on their value today and try to understand where we're at in a market cycle and where things are going to shift and, you know, make our business plan accordingly. And if you do that, you're always going to be okay. If you understand where we're at in the market cycle, because the ones who got into that bad debt a few years ago, they didn't realize we were at the peak of a market cycle. You don't want to create a business plan to refi when you're at the peak and the all-time low interest rate, it's probably not your best move. So understanding kind of the market cycle is key, but I don't know what's going to happen. I think we'll start seeing interest rates come down by Q3 of this year. And I think that it'll

Starting point is 00:36:15 be a big year in real estate as far as multifamily goes, because I think people are going to be, again, desperate and needing to sell these properties left and right. We've already started seeing it. I think it's going to be even more apparent here in the next quarter or two. Definitely. Definitely. Well, thank you very much, Anders, for coming on the show. We really appreciate it. Yeah, absolutely. I appreciate you having me. I had a great time. Great discussion. And what an inspiring story. How to go from being a door-to-door salesman who went broke lost everything even his college tuition to 200 2,500 plus units what a great story what an amazing story you got to write a book man you got to get that out on paperback so

Starting point is 00:36:57 we can read that baby up because people need more inspiration we all go through those dark times of like wow the world just just turned against me and so inspiring stories like yours take you to the next level so thank you very much for coming on gersher.com so people can find you on the interwebs yeah it's www.brightoncapital.io there you go thank you very much anders thanks to my audience for tuning in if you're new to this thing because there's 300 of you that are new this month, go to goodreads.com, 4chesschrisfoss, linkedin.com, 4chesschrisfoss. Subscribe to the big LinkedIn newsletter and the big 130,000 group on LinkedIn. Go see us on youtube.com, 4chesschrisfoss, facebook.com, 4chesschrisfoss,

Starting point is 00:37:40 chrisfoss1, on the tickety-tocky. Thanks for tuning in. Be good to each other. Stay safe, and we'll see you guys next time.

The Chris Voss Show - The Chris Voss Show Podcast – From Broke to 2,500+ Real Estate Units: Anders Jacobson’s Journey

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