Justin Colby

No, there's no tenants right now.

No, there's no tenants right now.

So all the equity I raised is equity. No debt, meaning I don't have to pay monthly. And it's all for the upside. So again, you call a day and say, hey, dude, I know you need a tax write off because you're going to own it with me. You want the upside. You want a resume that has commercial on it. We'll have an exit in about five years.

So all the equity I raised is equity. No debt, meaning I don't have to pay monthly. And it's all for the upside. So again, you call a day and say, hey, dude, I know you need a tax write off because you're going to own it with me. You want the upside. You want a resume that has commercial on it. We'll have an exit in about five years.

I can't pay you monthly in a loan style debt, but I'm going to give you the equity that gives you all the other stuff. In fact, I'll give you a pref. and I'll give you 10% of your money while it's accruing. And then when we refi out with the bank, I'll make sure you get a minimum that your interest that you're owed, plus whatever appraisal we can get, I'll give you as much as your principal back.

I can't pay you monthly in a loan style debt, but I'm going to give you the equity that gives you all the other stuff. In fact, I'll give you a pref. and I'll give you 10% of your money while it's accruing. And then when we refi out with the bank, I'll make sure you get a minimum that your interest that you're owed, plus whatever appraisal we can get, I'll give you as much as your principal back.

So your principal, or I'm sorry, your interest plus your principal on the refi, there's a chance you get 50, 60, 70, 80, 90% of your principal back on the refi if it's done right. and you're in it and have all the upside, all the tax write-offs, all everything. So I like the vacant model. The downside of the vacant model, there's no money coming in. Right?

So your principal, or I'm sorry, your interest plus your principal on the refi, there's a chance you get 50, 60, 70, 80, 90% of your principal back on the refi if it's done right. and you're in it and have all the upside, all the tax write-offs, all everything. So I like the vacant model. The downside of the vacant model, there's no money coming in. Right?

So when things go bump in the night, you're like, oh man, there's like, I just got to stroke a check for that. There's nothing to do. There's no money coming into the company. Right? But there's pros and cons to both. Right? I think the next one I'll buy will be performing to some level because when the bumps go in the night, you go, oh no. Okay. Daddy's got to go cut that check. Right.

So when things go bump in the night, you're like, oh man, there's like, I just got to stroke a check for that. There's nothing to do. There's no money coming into the company. Right? But there's pros and cons to both. Right? I think the next one I'll buy will be performing to some level because when the bumps go in the night, you go, oh no. Okay. Daddy's got to go cut that check. Right.

but the upside is also that like we can really incentivize the value so we're taking a general area that probably would have a two million dollar type of apartment and because of how we're building the units we're gonna get it to like 3.5 million which will then lift up that area and then my thought is if we can start to control more of that area we'll kind of have this resource of a like a localized like economy that we built that lifted the values because the town of birmingham city of birmingham

but the upside is also that like we can really incentivize the value so we're taking a general area that probably would have a two million dollar type of apartment and because of how we're building the units we're gonna get it to like 3.5 million which will then lift up that area and then my thought is if we can start to control more of that area we'll kind of have this resource of a like a localized like economy that we built that lifted the values because the town of birmingham city of birmingham

They're going through a massive gentrification. The city's putting like $50 million in to create this entertainment district and our apartments are right there, like a mile away. Wow, okay. So it's strategic in that sense of like, if we can just value add this whole area, that's the game.

They're going through a massive gentrification. The city's putting like $50 million in to create this entertainment district and our apartments are right there, like a mile away. Wow, okay. So it's strategic in that sense of like, if we can just value add this whole area, that's the game.

Oof. Something I think about daily, you and I are younger parents, right? Our kiddos are young still. So I think about it. I was just, so I have a philosophy. You only fly first class kids. It happened again last night, flying home from Phoenix, flying first class. I happened to be sitting next to the coach of Ryan Serhant.

Oof. Something I think about daily, you and I are younger parents, right? Our kiddos are young still. So I think about it. I was just, so I have a philosophy. You only fly first class kids. It happened again last night, flying home from Phoenix, flying first class. I happened to be sitting next to the coach of Ryan Serhant.

And so next, you know, now like we're talking about Ryan coming, speaking at this event that we're, so that will be a big surprise. I don't want to be leaking it, but he has, anyways, I say all this to say, Um, one of the flights was a financial advisor. He was in his seventies.

And so next, you know, now like we're talking about Ryan coming, speaking at this event that we're, so that will be a big surprise. I don't want to be leaking it, but he has, anyways, I say all this to say, Um, one of the flights was a financial advisor. He was in his seventies.

He looks at me and we're having a great conversation and you know, we're just talking about life and money and blah, blah, blah. And he says, I'm going to give you the best advice I could ever give someone invest in current living. And as I just said that to you, I got shivers. Invest in current living.

He looks at me and we're having a great conversation and you know, we're just talking about life and money and blah, blah, blah. And he says, I'm going to give you the best advice I could ever give someone invest in current living. And as I just said that to you, I got shivers. Invest in current living.