How to Scale Commercial Real Estate

Mar 18, 2022

Is multifamily an undervalued asset class?

This may sound like a controversial take, but Hunter Thompson is here to tell us why we should believe it. 

Hunter is Managing Principal at Asym Capital, which helps real estate investors acquire properties that are recession-resistant. His team’s background in economics and technology provides clients with a unique perspective in investing in real estate deals. Hunter is also an expert in capital raising. 

He has raised more than $50 million in private capital and has taken down over $100 million in real estate. His tips and tricks are written down in his book, Raising Capital for Real Estate. 

 

[00:01 - 04:44] Opening Segment

• Why Hunter Thompson fell in love with passive investing
• Here’s the reason you should work with Hunter

[04:45 - 14:52] The Economics of Real Estate

• Hunter’s different approach as a limited partner
• What are recession-resistant asset classes?
• • Hunter explains
• He gives his thoughts about the profitability of ATM businesses 

[14:53 - 24:30] Multifamily is Undervalued, and Here’s Why

• Listen to Hunter’s thoughts about inflation and its influence on real estate investing
• Hunter believes that multifamily is being undervalued
• • He tells us why
• He shares his thoughts on the tokenization of real estate

[24:31 - 27:40] Closing Segment

• A tool or resource you can’t live without
• • Calendly
• A real estate mistake you want the listeners to avoid
• • Focusing too much on capital raising
  • Pay attention to debt too
• Your way to make the world a better place
• •  Helping people become successful entrepreneurs
• Reach out to Hunter
• • See links below 
• Final words

 

Tweetable Quotes

“The debt piece is usually the single most important determiner on whether or not investors get their money back.” - Hunter Thompson

“You can be way late and very successful in real estate because of the speed at which the asset class moves…you don't have to have the best deal in the world, as long as you're participating.” - Hunter Thompson

“If you think that [the tokenization of real estate] is a potential thing that's going to have a lot of legs, I don't want you to have to be the person that actually makes it happen. You can let someone else go and incur that risk, figure it all out for you you can be three years later, you're still going to get tremendous, tremendous upside.” - Hunter Thompson

 

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Email hunter@asymcapital.com to connect with Hunter or follow him on LinkedIn. Do you want to work with a technology-enabled real estate investment firm? Check out Asym Capital now.

 

• Listen to Cash Flow Connections to learn the intricacies of commercial real estate from the comfort of your car, home, or office.
• DOWNLOAD THIS FREE BOOK, Raising Capital for Real Estate. 

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Email me → sam@brickeninvestmentgroup.com

Want to read the full show notes of the episode? Check it out below:

Hunter Thompson  00:00

Go all in on education. The time is now to do that. It doesn't mean go and get into an illiquid investment. Similarly to the world of the tokenization of real estate, if you think that this is a potential thing that's going to have a lot of legs, I don't want you to have to be the person that actually makes it happen. You can let someone else go and incur that risk, figure it all out for you, you can be three years later, you're still gonna get tremendous, tremendous upside because this is not the world of innovation. This is the world of copying others that have had success.

 

Intro  00:31

Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we will teach you how to scale your real estate investing business into something big.

 

Sam Wilson  00:42

Hunter Thompson has raised more than $50 million in private capital and has taken down over $100 million in real estate. He's also written a book, Raising Capital for Real Estate, which you can find at raisingcapitalforrealestate.com. Hunter, welcome to the show. 

 

Hunter Thompson  00:57

Honored to be on thanks again. 

 

Sam Wilson  00:58

Hey, man, the pleasure is mine. same three questions asked every guest who comes on the show. In 90 seconds or less, can you tell us where did you start? Where are you now? And how did you get there?

 

Hunter Thompson  01:05

So I started by being really interested in what took place in 2008. Just the devastation that took place in the marketplace, I did not lose any money in 2008, I was just a college student. So I thought, You know what, this is a great time to invest within bloods in the streets. I moved to California, not because of the market, but just because I felt like that's where the excitement was, especially at the time. And there was a lot of money and the cap rates, though they had been depressed, they were far too low for what I felt comfortable with. So I started looking at other opportunities outside the state of California and was very quickly introduced to the world of syndications, which is, you know, common vernacular now. But at the time, it was only me and like three other guys that I knew that you know, what we later would call crowdfunding real estate. And I fell in love with the world of passive investing, and built a business to help people find great investment opportunities that were vetted so that they could be great LP investors, and decided to raise capital for other people's deals. So to a large degree today, I still am a passive investor. I just raised significant capital from our role of extra sponsors that we created over the years. I hope that was 90 seconds.

 

Sam Wilson  02:14

Close enough. I mean, that's an intriguing idea. You know, I think, you know, we've seen that the rise of the capital allocator, we've, you know, that has become its own thing. And there's inherent risk, I think involved in that whether or not you become a registered investment with a resident IRA, which I think you are,

 

Hunter Thompson  02:31

I'm a registered representative, which is a different track from the RA route, but it's similar in practice.

 

Sam Wilson  02:36

Okay, so you're a registered representative, a broker-dealer. I think that's terminology, right. And then we have people kind of play in the wild west gray space of just raising capital, but not really being on the GP team, but they're on the GP team doing nothing you got you kind of got that weird, but I really don't want to tackle all of that today. I mean, if you want to dig in further on that we've got lots of episodes, we've brought on some other people who've done the same thing as a registered representative Hunter has, but really just a unique idea that you can go out and raise money for a project that someone else is doing, like break that down for us, like why does somebody come through Hunter versus just going direct a sponsor?

 

Hunter Thompson  03:11

Well, it's a good question. And so we work really hard to answer it, you know, economically, relationship-based, etc. So, generally speaking, all of our economics is paid by the sponsor, because we're providing them a tremendous service. When they do deals with us, we have very buttoned-up investment wires, just hitting their account without them doing much of anything, in terms of raising capital. We put them in a very good position because once we go through our very rigorous due diligence process, which sometimes can take years, and that's not an exaggeration, when we put that group in front of our investor base, they're positioned in a very good light. So we don't do deals with a lot of sponsors, you know, we've done deals about six or seven sponsors only like four of which we're currently doing a ton of deals with because of the deal flow changes and the dynamics of the market shifted. And so why a sponsor would be interested in dealing with us, our position in the space is we have a very good reputation we deliver on our promises. And if they're willing to part with some of the economics of their deal, it'd be worth a conversation on the investor side of things. They're getting a very white glove vetted process, which results in them to a large degree, being able to rely on our due diligence process, rely on our relationships rely on the fact that I'm usually one of the largest personal investors in each of our offerings. And they also know that somewhere between 70 and 80% of our economics are based on performance. So we're just not incentivized to do a lot of deals. We do deals with groups we think are going to work and you know, I invest significantly in each one of them.

 

Sam Wilson  04:45

Man, that's fantastic. I love that. That's very, very cool. And that is certainly a compelling thesis. I love what you said there about a white-glove service because I mean, let's be honest, it's a pain in the neck to be a limited partner and actually find a deal that you like. I'm in this industry, and I'm sitting on capital right now I know I'm like you, I mean, you know, hundreds of operators and I'm going, I don't want to put this, it'd be 10 times harder if I really didn't know the industry that well, I mean, then you're really just throwing a dart at the wall going, Gosh, I sure hope I hit the bull's eye.

 

Hunter Thompson  05:12

There was a time where access was the challenge. If I could only access these deals, I'd be able to invest, right? But now anyone can Google real estate crowdfunding and you can access hundreds of opportunities. The problem is, everyone's marketing documents were made by someone overseas that costs $35 An hour and they look amazing. But the difference between Blackstone's marketing documents, anyone else's marketing documents is really negligible, right? There's no real difference. So what's going on under the marketing documents is what really matters? Who are the actual principals? Have you run a background check or criminal check? Have anyone that's, you know, to some degree, acting on your behalf? I tour properties across multiple states show up to properties randomly pull deeds on property. So if you take a picture in front of a property and say, Hey, I own this billion-dollar piece of real estate, I don't just take your word for it, we'll pull the deed on the asset and follow the chain of LLC to until we get to you personally. And at that point, we know you might own the asset. But how many passive investors are doing that? Almost none. But it's not because they don't have the time. It's not because they don't know how. It's just that the economics is such that you can't spend all your time doing what I do, or it will eat into your return profile, right? You spend five or $10,000 on due diligence, and you're only investing 50 grand, it doesn't really work. Even if you know exactly what you're doing. So a big thing of what we do is we use the economies of scale where, you know, in 2021, I think we invested 20 or $30 million, that allows us to do all those things on the behalf of our investors.

 

Sam Wilson  06:45

Right. That makes a heck of a lot of sense. That's awesome. I love what you guys are doing. And now that we're talking economics, let's shift gears a little bit. I mean, your show is it's a great show. I'm a longtime listener, first-time caller. But no serious. I've listened to your show for now several years and really have enjoyed it. And I love kind of the the controversial people you tend to bring on. It's always a different kind of perspective. Can you give us what your outlook is? You know, you guys are investing a lot of money in a lot of different asset classes? Or is it all the same asset mesh? Like five questions, you're all at once a lot of different asset classes? Or is it all in one asset class? Give us your kind of economic view? How are you guys protecting investors? Just give us your overarching, what does Hunter see in 2022? And what are you doing about it?

 

Hunter Thompson  07:29

So in some ways, this is kind of a boring response because if you listen to any interview I've done over the last 10 years, you're gonna get the same answer. But I'll kind of justify that. So we have a low-risk cash flow-focused, recession-resistant thesis, meaning that we invest in stabilized to value-add risk profiles that are going to be cashflow positive, at least within the first quarter of the investment. And then they must have some sort of recession-resistant thesis. And so what that means is, the first two are pretty self-explanatory, but the recession-resistant thesis has now become more and more popular. But basically, the demand for the product has to be either inversely correlated with the economy or non-correlated with the economy. So as an example, the self-storage industry is notoriously recession resistant, the worse the economy does, the more people that are downsizing, sometimes the more divorces they are sometimes the more kids move home from college unexpectedly, all of that creates demand for self-storage, a very good recession resistant thesis, I recently did a deal in the ATM business. And that is a really interesting one. So the ATM business in today's and then this particular niche. It's basically for people that are unbanked or on bankable, you can't get a bank account. And so the worst the economy does, the lower people's net worth tends to be, the less likely they have income, it's more difficult for them to get a bank account, it pushes them into the unbanked. And then they use ATMs to kind of transact, like most people, or other people would use banks. And there's 10s of millions of people so that are unbanked in the United States. So that creates a really interesting, compelling, recession-resistant thesis. And another piece of that one is that we don't sell the ATMs later down the road. So the valuation of the ATMs to be determined at a later date is not consequential to the investment thesis. So I really love the combination of let's say, investing in self-storage, where you're going to sell and your 10 out evaluation, you hope to be larger. In the ATM business, you don't care about the valuation, the cash flow is so significant that the IRR is totality. And its totality is from operational cash flow. Right. So just constantly participating in the market intelligently, always with that thesis, but as things change the marketplace, changing the percentages that we're investing. So in the wake of COVID, for example, grocer-anchored retail, which is a very compelling recession-resistant thesis, that is not a significant piece of our future investments because of the changes that have taken place in the marketplace.

 

Sam Wilson  10:02

That's intriguing. And those are two very different asset classes. They're, you know, the self-storage one. Yes. You're looking for an equity multiple upon exit. Yep. Or as an ATM, you're just collecting the cash flow. And I think like you said, it's not contingent upon a future sale, which means at year, I think, if I recall correctly, as I looked at this deal like it was a seven-year, that's right, when your deal and you know, at seven years, the disposition price of your ATMs was zero, basically, yeah, you're just giving it away. Right? And that's really, really interesting. What do you think, you know, and we're gonna, I'm gonna turn left here, but CBDC. So Central Bank, Digital Currencies, need fear for that, and the effect it could have upon the ATM business?

 

Hunter Thompson  10:41

So yes, and no. So I think we saw what happened in China. And of course, you know, I have invested like, our investors invested 10s of millions of dollars in this space. So we're definitely like focusing on this particular risk. So we've done a whole hour and 15-minute podcast about this particular topic with someone who is part of like the ATM lobby and understands the regulations and how they work, we definitely take the risk seriously, but we're just not concerned about it in that seven-year timeline. In China, they were able to successfully basically convert everyone over to a kind of centralized digital currency very quickly. But China, as many of you may know, it's like a top-down process where they can make it so instantly, they can say this is the case, I believe it was the movie, Thank You for Smoking, wherein the film, the son of the main character, ask them, “Daddy, what makes America so great? And he says, our endless appeals process? Well, that's the reality with the banking sector. So you can't just say, Hey, new digital currency, sorry, banking sector, it's new, this is what we're gonna, no, there is a litigation that's going to take place, there's endless rules and regulations, there's people going to push back on this stuff. And that's, we just don't see it hasn't started, it truly hasn't started in the sense that we actually see ATMs increase in transaction volume within our niche on an annualized basis. Most people would think that's not the case. Oh, but cash is going away. If you're interested in learning more about this and why our particular niche is not really impacted by that you can go to asymcapital.com, I have a webinar on the process, but we have not seen like cashless societies, Venmo, PayPal, these things aren't really applicable to our particular niche because of the requirement for a bank account to be used for all of them, which would most likely be the case for digital currency as well.

 

Sam Wilson  12:30

Right. Yeah, that's really, really intriguing. And you're right, the demographic that is serving that you're serving by providing ATMs. I mean, I can tell you, I'm involved in a business that, you know, it requires cash for a lot of people to come to the business and they prefer to pay in cash, we've given them all digital options. I mean, you can come you can get digital prepaid card, you can do everything you want to even bring in the cash in then they still prefer to go strictly to the cash sale route. And it's like, this is really bizarre. So yeah, there's a certain demographic you guys are serving there. That's really intriguing. How do you pick your investment thesis based upon? Or is it me, ask this question? Is there any correlation in what you invest in, and what your free market views are? I know, on your show, you talk a lot of free market people, you talk to a lot of really, you know, high level thinkers, and I know where you kind of stand on a lot of this stuff. Those two intersect in any way.

 

Hunter Thompson  13:17

So definitely, especially when it comes to my views on inflation. So I think that we are going to go towards, you know, continued inflation of asset prices. And it makes you seem like a Perma bowl. But I just feel like someone asked me recently, what's the number one most undervalued asset class in the United States, and I was trying to be kind of cute, and I said, multifamily, and like the whole room just like paused and was just like, what, and kind of not joking like, I think there's a flush of 10s of trillions of dollars of money printed over the last couple of years. I think 40% of all the dollars in the history of United States for printing the last 18 months. And United States real estate, particularly multifamily is one of the most compelling investment products in the world. And you have the combination of the size of the United States, the predictability of outcome and legal system, the way that title works in the United States. There's a slush fund of capital looking for great deals, and growing robust markets like Phoenix and Texas and Florida, etc. Where the supply-demand imbalance, sound fundamentals are producing incredible returns. And it's just getting started. I haven't looked up the number recently, but the number of accredited investors that have any investments in private placements is basically zero. It's almost nothing. Meaning that there are a lot of accredited investors, there's 12 million in the United States, they have assets that are invested in real estate, but they're all REITs. And like, we all know that those are not compelling compared to the deals that you and I have access to correct? Once this becomes democratized, for lack of a better term, meaning people have access to it. I think that there's going to be a flush of interest to the space. I think that all of us kind of get in this echo chamber where it's me and you in bigger pockets and everyone's talking the same language, we think, Oh, it's really competitive. Just wait, just wait. I think interest rates potentially could go negative, as we've talked about before, they currently are negative on a real basis, you know, real interest rates are negative currently. United States is one of the few industrialized countries that has even positive rates. I think United States bonds are far more attractive than something like a Japanese bond, which for the last time I checked was negative, there's no reason this isn't going to continue. Interest rates are going to continue down, asset prices are going to continue up and cap rates. Let's say they're fives. Now, there's no reason they can't be two and a half. Yeah, now, maybe I'm wrong. But what if I'm right, and if I follow that investment thesis, and use appropriate debt to protect my investors, in case I'm not correct, I'm gonna be very happy if I have a lot of money invested in those inflating assets. And if I sit on the sidelines for two years, and I, that correction doesn't happen for two years, I'm going to wish I had been invested that whole time. And by the way, people have been asking about when interest rates are going to rise. Since 2008, since 2000, you know, and look at the last 100 years of interest rates. It's a very interesting picture, if you Google that chart, you'll learn a lot about the world of finance, you have a very pronounced increase in rates in the 70s and 80s. And I feel in the next 40 years or downward trajectory down to the right. And I think with how politicized the Fed has become, there's just nobody is going to come and say, You know what, let's intentionally smash the button and enter into a multi-decade depression by bringing rates up to what we think might be market. There you go.

 

Sam Wilson  16:40

That's absolutely compelling. I love that you're taking a hard stance there. And I like that because that's, you know, it doesn't leave a lot of ambiguity on the part of the listener. It's like, Hey, this is where we're going. Alright, let's talk about multifamily being undervalued. I mean, what if we do have a recession, right, and then people don't have the spending money? Because I hear this from two different angles. If your tenants can't afford the rent increases, then how do the price, the assets continue to inflate?

 

Hunter Thompson  17:06

So rather than focus on the potential upside when it comes to recessions, let's talk about the downside. So everybody's investment thesis is different. But if I'm talking about 150-unit apartments in growing and robust markets, I think default rate of Fannie Mae-financed assets in 2008, was 1.5%. These high-quality large 100+, 150+, 200+ assets were not smashed during the recession. Many of them lost asking rents somewhere in the range of like 3%, while the properties themselves decreased in value by 30%. Right? So this is why my answer I always say, debt is so important, because the debt piece is usually the single most important determiner on whether or not investors get their money back. And so if I can account for a debt service coverage ratio that's appropriate and can account for a 2008 level decrease in rental rates, then I can withstand 2008. And if I can withstand 2008, I can withstand anything. That's a very ahistoric kind of moment in history. But it was not a moment created by the fundamentals changing. That moment was created by very unique loan products that hadn't really never been tried before. So let me explain a different way. Phoenix is a market that I'm very bullish on. And when I got into that market, I was initially very hesitant because of the notoriety that we all know of the volatility of that market. We all saw what happened in Phoenix in 2007, and 2008, 2009, for context, there was a time when several counties in Phoenix, excuse me several locations in Phoenix, where 40% of the employment was construction 40%. That's all anyone was doing in like all these neighborhoods. And so when the construction business stops, they'll neighborhoods basically stopped, right. But that whole thing was created by those unique loan products, buying loan people to buy houses that would never qualify otherwise, right. Now, what we have in Phoenix is an insane supply and demand imbalance created by population growth, job growth, income, growth, rent growth, etc, etc, resulting in massive rent growth. So those types of metrics don't just get deleted. If you have 100,000 people moving there a month, those people don't come and go, that's a non-volatile metric. That's the sound fundamental that's going to create some really pronounced results for investors that are willing to buy into that market. So my answer to your question is, when you have those types of tailwinds not based on unique ahistoric loan products, but based on sound fundamentals, the downside is very well protected. Of course, it's important to get appropriate debt, but the supply and demand imbalance validates that thesis from my perspective, at least.

 

Sam Wilson  19:45

I love that. Let's circle back to the accredited investor conversation where you were saying that less than 1% I think of accredited investors have private placements in their portfolio. I think was that the stat you'd use?

 

Hunter Thompson  19:55

I actually didn't say the exact number I said it was basically nothing. I believe it's less than 5% But here's the thing, what should the percentage be? 90% accredited? I mean, how many accredited investors, people that have a million dollars of net worth, let's say? I mean, certainly, if they knew what you and I knew, right, they would almost all be interested, right? But they don't. Right. So that's going to change. It's already changing 506(c)s, for example, which previously accounted for about 1% real estate transactions now think like 5x, that number is going to 5x. Again, it's just a matter of time, right? So if you and I are here and well-positioned, man, we can ride this wave. And the only reason I'm kind of speaking like this, is that it's just natural and prudent to constantly be thinking about the downside. But sometimes you get in the habit of doing that to the point where you're gonna cost yourself more gravely than if you were bullish. So if you sat on the sidelines starting in 2017, and said, cap rates can't go any lower, I'm done. I mean, you got to think about what you have done, not only in terms of the potential upside but also in terms of your inflation risks that you're suffering out through being on the sidelines. So there you go.

 

Sam Wilson  21:07

Suffering from inflation, risk time value of money, I mean, you've lost your opportunity cost has been enormous. One of the things I think that's gonna be really interesting in this space is tokenization. And the blockchain coming to real estate. And I think, to your point, there's all this money on the sidelines that doesn't know how to get to these private placements. And I think as we see the blockchain make its way into the real estate sector. And suddenly, the liquidity or the illiquidity of real estate, suddenly, you know, take turn it on its head now becomes a liquid transaction, where you and I can trade shares and our buddies, you know, multifamily project in Phoenix, you know, with a click of a button, when that starts happening, I think we're gonna see an even further flight of capital into the space. And then I think you're really right, then cap rates are gonna just keep, you're gonna be down to the bond markets right now where I got a brother in law that trades bonds and like, they're like trying to make you know, five pips on a $20 million bond. And it's like, Wait, yeah, banks are spending $20 million to make five basis points for six. What, this doesn't make any sense. But I think the same thing is gonna happen is that compression just because again, the more capital that goes into a particular asset class, the more that the yield gets squeezed. I think that'll be it's another really compelling, I think, argument to that, that this goes, this is just going to continue to go down.

 

Hunter Thompson  22:22

I agree, let me just put a little bit of my spin on that particular topic. You can be way late and very successful in real estate because of the speed at which the asset class moves. That's why it's so compelling, it works all of the time, you don't have to have the best deal in the world, as long as you're participating. This is why my thesis made sense. Are you guys getting this? Let me say it another way. So I got into the business in 2010 or so. And at the time, all the people I was like, getting to know and learning from were saying, Hey, this is the opportunity of a lifetime. I've been in this business for 40 years back the truck up. And I was thinking back what up, I don't know what I'm doing. You know what I mean? Like I didn't have enough knowledge. So four years later, I was kind of thinking, holy cow, the deals I'm getting now are better than deals I saw in 2010 because my knowledge, my confidence, my network grew faster than the market recovery of the biggest correction in the history of real estate, maybe other than the Great Depression. So what I mean by that, is, while I am so excited about this opportunity in real estate, you can move slow and still win because the point is not the speed at which you move to buy deals, if you buy a bad deal, it's going to really set you back, but participating depending on where you are in your growth curve. If you're just listening to podcast now for the first time, you haven't yet done a deal, perhaps that's what I mean, when I say go all in, go all-in on education, the time is now to do that. It doesn't mean go and get into an illiquid investment. Similarly to the world of the tokenization of real estate. If you think that this is a potential thing that's going to have a lot of legs, I don't want you to have to be the person that actually makes it happen. You can let someone else go and incur that risk, figure it all out for you you can be three years later, you're still going to get tremendous, tremendous upside because this is not the world of innovation. This is the world of copying others that have had success. If you want to go and innovate, think about it like that, the risk of what you'll incur by trying to be the person who tokenizes all the real estate in the world or whatever it is fine, but you better be certain that you're gonna have a potential for like 100x 1,000x type of return while I'm clipping along at 16 a year, and I may catch you if you take a couple of years to figure it out.

 

Sam Wilson  24:31

That's fantastic. Hunter, I've loved this. This has been great. You've shared a share with us a lot of golden nuggets, kind of your investment thesis how you guys see 2022 shaping out what you guys are doing to protect your downside, but also make sure that hey, you get to participate in the upside wherever this market takes us. So I think this has been an absolutely tremendous episode. Thank you for coming on today. Let's jump here to the final four questions. The first one is this. What is one tool or resource, think software, it's something digital, that you find you can't live without?

 

Hunter Thompson  24:57

Oh my god. I'm not gonna tell a whole story you've been able so let me go blabbering, blabbering. But I will just say that Calendly, guys, come on, it's $15 a month, I don't want to talk to your assistant, let me click the link and schedule a call.

 

Sam Wilson  25:10

Amen to that. That's awesome. Question number two for you. If you could help our listeners avoid just one mistake in real estate, what would it be? And how would you avoid it?

 

Hunter Thompson  25:17

It's always disproportionately focusing on raising money and due diligence and not focusing on debt. Debt is 70% of the capital stack or more. And it almost always accounts for when people lose money, it has to do with debt. So focus on debt. I'll give you a couple of examples. How long is the interest-only period? What's the loan to value? Who is the lender? Have the lender invested and lent on this particular asset class before? Is there other lenders that are similar to them? How knowledgeable is the particular like just going on and on about the particular loan product and who the lender is and how big the lending market is of your asset class can help you tremendously when things actually go wrong.

 

Sam Wilson  25:54

Man, that's gold. Love that. Question number three for you, when it comes to investing in the world, what's one thing you're doing right now to make the world a better place?

 

Hunter Thompson  26:02

So I have a pretty robust education branch of our firm, which is kind of head by raised masters. And that's how I give back in a purely capitalistic forum. Definitely not philanthropy. It's not cheap. But the success stories that we've helped create from people that are able to raise money for their deals is so rewarding. That's the thing that's most fulfilling in my life. I love helping people invest. But the SEC says, only got to work with accredited investors. These people are all good no matter what. I really love helping people, you know, quit their job, become a successful entrepreneur, 10x their freedom in their life, through their ability to bring capital the table. And so that's kind of how I do it.

 

Sam Wilson  26:43

Man. That's fantastic. Yeah, and if you want learn more about that, I think, what's the website for that? 

 

Hunter Thompson  26:47

Raise masters. I would go to raisingcapitalforrealestate.com/never-scramble.

 

Sam Wilson  26:53

Love it. Absolutely love it. Yeah. And I've been privy to a lot of people who've been through the Raise Masters program. That's pretty cool. So cool. Hunter, if listeners want to get in touch with you or learn more about you, what's the best way to do that?

 

Hunter Thompson  27:03

Raisingcapitalforrealestate.com for all the capital raisers out there. Those who are aspiring to be and if you're interested in investing passively, it's A-S-Y-M, capital, dot com.

 

Sam Wilson  27:12

Hunter, thanks so much. Appreciate it. 

Hunter Thompson  27:14

You're the man. 

 

Sam Wilson  27:18

Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen, if you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners, as well as rank higher on those directories. So I appreciate you listening. Thanks so much and hope to catch you on the next episode.