Mr Announcer:
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Property Patriot,you are cleared Hot.

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Do you have the analytical skills required to buy real estate?Flint Jamison is a real estate syndicator and investor.With over20years of experience in the aerospace industry,he started his real estate journey in2018by buying a duplex in Milwaukee.After successfully renovating and selling the property,he realized he could scale his investments by partnering with experienced investors all around the country.Here,how he started,how he failed,and how he recovered with the help of others and grew in the industry.Find out all that and more where we provide real estate investors,the tools to achieve generational wealth.Welcome to the AI podcast.I’m your host,but Evans.And this is show number42.

Bud Evans:
0:34
Good day,high flyers and welcome to the Aim High Podcast.I’m your host,bud Evans.Today I am here with Flint,Jameson.Flint.How are you today?

Flint Jamison:
0:42
Hey,doing fantastic.It’s springtime.The sun’s out and deals are happening.

Bud Evans:
0:47
I love walking properties this time of year when all the weeds are surrounding them and you can just see oh man,your landscaping needs this,and this.It just makes it so much easier.

Flint Jamison:
0:58
Yeah,you do see,yes.The problems are much easier to find,that’s for sure.When it’s not buried in snow.

Bud Evans:
1:05
So Flint,you and I have a lot of people in common in our network.Can you do me a favor and just give me a brief introduction?

Flint Jamison:
1:12
Yeah.So Flint,Jameson I,own a real estate investment firm.I am,I largely partner with experienced operators around the country to bring my friends,family,and investors.Really great,deals in the commercial real estate arena.So I’m a syndicator and I started out in aerospace.I’m an engineer and20years in aerospace.I,designed parts on the Boeing787.I’ve modified aircraft for the military and here I am,full-time real estate.Awesome.So we have that

Bud Evans:
1:44
Going for us or we’re both from the,oh,I’m from the actual support side of the d o d portion of the aerospace industry.Other than that,man,how did,so you’re,an engineer and you’re in aerospace design and all of a sudden now,what was it,the numbers,what got you into real estate?

Flint Jamison:
2:03
I think I got started like most people where.You just think about how can I invest my money differently outside of Wall Street?And you hear about people owning single family homes and you know somebody’s rich uncle who has passive income cuz of the massive portfolio of property.So I was like,okay,let’s go.And I,bought a duplex in2018.It was a heavily distressed property.Renovated it,I held it.So I did the birth strategy.The birth strategy wasn’t totally successful,but I,held onto it.I made money and sold it three years later.I actually sold it in April of2022before the market went down.It’s just serendipitous.Good timing.

Bud Evans:
2:42
Okay,now you got a single family home.Duplex,right?So yeah.Residential,multi-family.What made you take the next step?

Flint Jamison:
2:51
Yeah,so I realized after I,I tell people if you wanna buy a single family home,just expect you’re buying yourself a job.Yeah.And this was remote.I’m in Denver,this was in Milwaukee,and I had basically found the team to do all the work,but it took twice as long to get it up and running costs30%more than anticipated on the renovations.And then when it was all said and done,I was making$300a door.So600a month,which feels really good from a monthly perspective.And if you look at what I’ve been told,I guess bigger pockets form this,number pops out in my head.They said,on average with single family homes,you make200a month.And so I’m like,oh,sweet.300a month per year.I’m,killing it,but.If I wanted to retire on a portfolio of units like that,I would need to do that50more times.I’m like,geez I,just can’t,I just can’t wrap my head around being able to do that.And this one wasn’t a hundred percent success.I didn’t lose money.I was making okay money,but I was like,man,I’m gonna have some duds in there,maybe some successes,but this is gonna take me forever cause I’m running solo and it’s a lot of capital.So that’s when I started looking what’s next?You know there’s house flippers.A lot of people like to go from single family home to house,flipping to wholesaling,and eventually they end up at the Holy Grail,what I call syndication,where you can passively invest or if you choose to be on the active side,like myself,general partnership team up with a bunch of experts and we take down massive properties and there’s a lot of scale to it and,much higher potential.Yeah,man.

Bud Evans:
4:30
So let’s talk about your first commercial multi-family deal.What did it look like and how did you get into it?

Flint Jamison:
4:36
It it,looked like failure.I,got my first failure out of the way.It was a23unit here in Aurora.It actually ended up being22units legally.But to give you the,longer story just for your listeners.Partnered with some other newer syndicators like myself.We were a new team.We figured,hey we’ll bite off this small chunk,which is a23unit.We found a,property manager in town who had partnered with us.They’re like yeah,we can do it.And they had their own internal,they were vertically stacked with their PM and general contractor.They did all the bids,and then at some0.2weeks to closure,or two weeks before the money went hard or earnest money.They ghosted us and we have no idea why.So we quickly turned around,found a,bigger property manager,a nationwide operator that could really come in and man,it was a game changer bringing them in,but.A bunch of things went wrong on,on that,but we did find out the23rd unit was in the basement and it couldn’t legally be used.So we’re like,dang,that hurts the numbers.You need to subtract one unit on something that’s23units.Yeah,it hurts the numbers big time.So we were trying to find other ways to,recover some of that money,amenities,whatever in,which way,and our property manager was,helping us through that.But in the end,We couldn’t raise enough money,and that was,we just had to back out and we,paid a lot for the earnest money.It was two,I believe it was2million,2.1million purchase or2.9.I can’t,that was back in2021at this point.But yeah,I lost$30,000.So I say I got my men,my$30,000mentorship through the,school of hard knocks versus paying a,guru.But from there I,took that weakness of capital raising,doubled down,paid a coach,built my systems.Within three months,I got invited with an experience group to help raise capital and work with them.So by that was,the failure happened in August.By January,we closed on our,on my,first successful deal and it was104units.Great.

Bud Evans:
6:53
Now,okay,so I’m smiling,but I’m not like,It’s not laughing.It’s more like something that you said that I say all the time is some of,sometimes the best education that you pay for is not a college.Yes,that’s true.When you have a loss in real estate and you lose a little bit of money,you just chalk it up to an educational experience and move past it.Right.

Flint Jamison:
7:16
You have to,otherwise you just may quit the game in its entirety.

the-aim-high-studio_flint-and-bud_full-length-may-23-2023-001_composer-0l3rmkbgj_clip_2023-may-22-2036pm-utc-riverside:
7:21
Right.

Bud Evans:
7:22
Let’s talk about a positive as what was that hundred unit

Flint Jamison:
7:25
like?It was a breath of fresh air,to be honest.It’s funny,going from a23unit to jumping on with this experience team and bringing my investors this a property that had a team with a history and experience is just like a lot of the,weight was lifted off my shoulders and.On,a bigger team of people that had more capability to make something happen.So it was like slapping training wheels back on me.And to be honest,when I switched over to this capital raising thing it changed my course.Cuz when I was doing this local,I was the only boots on the ground.I was doing all the due diligence inspections with all the GCs.I was doing some of the underwriting,right?I was taking on a huge load.And with these guys I was.More shifted towards capital raising.I realized when I was in my w2,I could do this remote,I can be a capital raise remote.It’s hard to do acquisitions remote.That’s hard to be asset manager remote.But capital raising,I was like,oh,this is a sweet gig.Maybe I’ll,continue doing this and then I can partner with other operators too and bring a diversified portfolio.

Bud Evans:
8:38
Yeah,great point too.Not being able to ha to be the boots on the ground,you really have to,you’d have to really stretch yourself thin to be able to go back and forth to find a place.Yeah.But now what

Flint Jamison:
8:51
are you working on now?Oh several things.We’re about ready to close on this coming up this Thursday,which is as a recording of this.This is four days from now.A94unit townhome community in Columbus.And then on top of that,I’m partnered with a team doing build to rent.So I’m doing new development.Ooh,there’s three properties.There’s a90unit,160unit,and a240unit.These are all brand new development,single family home communities built to.Rent as in it is a commercial property rather than apartment buildings.The tenants live in like basically a starter home,and we have onsite property management,maintenance,amenities,pool and all that.So it feels like a class,a apartment complex with your own starter

Bud Evans:
9:41
home.And not something that you hear about happening every day.Having a bunch of friends,which,

Flint Jamison:
9:46
yeah,single family.And here’s the.Here’s the crazy thing is this build to rent is gaining a lot of traction.Yeah.To the tune of hundreds of billions of dollars from financial institutions like BlackRock and some other very large financial institutions are throwing their money to buy these communities,but they don’t build right?So we’re building it for them.So our goal is to be the developer.We’ll stabilize it for say a year and turn around and sell it,and it’s a huge.Yield on Coplay.From an investor standpoint,there’s no cash.This is the thing from investors.When you go do a value add,there’s likely some sort of cash flow.Throughout the years,you’re still doing value add.So it starts out pretty low,but on this one,you have to expect there’s no cash flow for probably three years.And then wham,you get cash flow and then maybe a year later you get this major profit of the sale.It’s,yeah,it’s a great asset class.Lots of demand.

Bud Evans:
10:47
Great.Let’s talk about what you do with that profit.

Flint Jamison:
10:51
Turn around and reinvest it,right?Yeah.

Bud Evans:
10:55
Event though,right?What’s that?It’s a huge taxable event.Is there a way to roll that in?Is it like a1031?Is there a specific code that you use or a specific way that you do

Flint Jamison:
11:05
it?Oh,that’s such a great point.So there are so many different plays you can make,and yes,you could do a1031exchange as a group between the GPS and LPs or the LPs that want to and do a1031into a new property.Of like kind property.This is where we’re starting to go down a rabbit hole that my expertise is not on1031s.Okay.I think I’m dangerous enough to talk details,but I could get myself in some danger here.But here’s the crazy thing.There’s,other exit strategies.We’ve been talking.These assets are so hot,not only just to sell to some financial institution,in the end,we could just cash out refi.Give everyone their,initial money back.It’s like the birth strategy only.We’re developing.We get all of our initial money back and then we cash flow with infinite returns for as long as we want,maybe up to10years.And then sell there’s another exit where we could sell these,depending on the economy,in five years if we have to.We have single family homes,we can sell’em individually.That is not the goal.We wanna sell it as one big commercial property.But if we have to,we still have a whole lot of value out there on,on that land that we can sell off.To your point though,the capital gains.Yeah.I,like to turn around and invest into another property,whether that’s1031or just taking accelerated depreciations from just investing in another property.So you can go either way.That’s

Bud Evans:
12:38
great though.You’re giving yourself a whole bunch of different options that you know,you don’t really hear about all the time.

Flint Jamison:
12:44
Yeah.Yeah.And actually the return on capital,let’s point that out.If during a one of those cash out refi events and you get your original capital back,that’s not a taxable event because we are simply giving investors their original money back.So you’re just like thanks,for that.And then you go turn around and reinvest it,and you get more depreciation off of that same dollar.While you’re,you can still be writing out that or original property for cash flow.Because it’s just equity.

Bud Evans:
13:15
Yeah.It’s not actually cash,it’s not income.It’s not capital gains.It’s just,yeah,we refinanced,took out the equity,and now we’re using that and deploying it someplace

Flint Jamison:
13:24
else.Yeah,exactly.

Bud Evans:
13:26
That’s awesome.That’s a great system.I love it.So where’s the fund?Do you have a fund that you,how do you capital raise?How exactly?Oh

Flint Jamison:
13:35
yeah.Okay.Now we’re,opening up another rabbit hole here.So the,

Bud Evans:
13:39
okay.Yeah.I,don’t wanna put you in a,on the spot.I don’t know exactly how this is,it’s being funded506bc whatever.

Flint Jamison:
13:48
Oh,okay.So there’s,yeah.And the reason why I say this as rabbit hole is because,and I,love talking about this because.There’s so many ways to get into investing as a passive or general partner.A the,money comes from what we call just retail investors.Just anyone out there who is qualified enough to,invest$50,000.Yes.506B or506C.We do take accredited and we also take non-accredited.The deal has to be specifically set up one way or the other from the beginning,but.If you want to get in on any deal,the best thing that I recommend,if you know any syndicators,find a syndicator,get on their investment club.That’s what we call’em.It’s really get in the database.You have to get to know them because that’s the only way you’re gonna find these deals.A lot of deals happen,especially the506for non-accredited investors.All those happen behind the scenes.Those don’t get advertised per the rules at S e C.They only go out to the database accredited investors can invest in those deals too,but it’s like an email blast and phone calls.You magically get called up.Hey,we have this great opportunity and no one else knows about it other than those,the database of the,gps.So to,talk about,cuz you mentioned fund and this is where I like to,talk about opportunities.So I did a fund of fund,hopefully not to get things too complicated,but.It’s basically there was a,really large50million fund that went and purchased three properties,three different operators,two states,three different cities,two different asset classes.So it’s basically one$50,000investment,gave you three properties and part of that50million fund,is that the person that’s running that big fund?Couldn’t raise all of it themselves.So myself as a capital raiser,I can create what’s called a fund of a fund,and then I’ve raised million,2million,whatever I can bring in.And my investors,it’s blind to them.They’re just they,put in their money and they’re invested across these three properties.Behind the scenes,we’re building the,legal structures in place.So there’s fund to funds,there are blind funds where you can get in.I’m in one passively,eight properties are in it.I don’t actually know how many units,how my distribution is.All I know is I’m distributed across eight properties.Across the US There are evergreen funds where I call it your choose your own adventure.And I hope to do this as a capital raiser someday,but I can just bring in my,within my portal.I can just bring in a new property this month,bring in a new property next month,and everyone who’s within my ecosystem can be like,oh,I like that property.And just choose to invest in it because they’re within this.Ecosystem.So that’s choose your own adventure.The best part is as cash flow starts coming back from these properties,it goes back into that fund into your individual account.And if you’re getting$3,000every quarter and you’re not,you can’t invest into the next deal until you have$50,000.Those$3,000each quarter is not doing anything other than sitting there.So then we can bring,per the Evergreen Fund,choose your own adventure.I can bring short-term debt,I can bring.Hard money.So this is just put it in there for90days.It’s I liquid after90days,you can choose to pull it or you can keep just feeding it.So those$3,000,you can just keep throwing at something that’s like a,an8%return.Hard money.

Bud Evans:
17:16
That’s awesome.See,Flint.There’s a reason that we got together on this call.Listen,there is so much value add going on right now because you are basically teaching.All of the people that are listening or watching on YouTube Exactly.That it’s not just about,there’s one type of real estate that you can invest in.There are so many different ways to invest in real estate,and you’re just blowing my mind right now with the amount of information that you’re given.That’s awesome.Thank you.Yeah.

Flint Jamison:
17:45
Yeah.And not to mention,it doesn’t have to be apartment buildings.It could be sell storage,it could be industrial,where you start getting into triple net leases.You could do retail triple net leases.

Bud Evans:
17:56
Now you’re saying one of my favorite terms.Triple

Flint Jamison:
17:58
net.Yeah.Triple net.I haven’t done one yet.I am geeked to,to find a partner to do that with.I’m also really excited to find a partner to do self-storage with,so that’s the other part of me being a capital raiser.My investors,I.Can get these options versus as an investor,you want to invest with the person.I’m just gonna use the,person that’s the expert in Class B value add assets in Dallas Fort Worth.But if they are the only operator you’re only investing in Class B assets in Dallas Fort Worth.Versus I I can find those operators to know and trust who have that track record.I do the background.And then bring investors into it.So yeah it’s,a fun position to be in.

Bud Evans:
18:45
Excellent.So I’ve gotta ask you now,so you’ve done all of this stuff.You’ve raised all of this money.What is one thing that you’ve learned as your wealth has increased?

Flint Jamison:
18:57
So my whole goal has been to one exit from the rat race,my W2job.And spend more time with my kids.So they’re four and six,soon to be five and seven.Now I’m working from home,I’m working for myself.I can take p t O whenever I want.Kids got no school on Friday.What are we gonna do with them?I’ll just hang out with them.I,just have this freedom to,to be with the family and I think that’s,what matters most.I agree.

Bud Evans:
19:28
I agree wholeheartedly.Just spent the entire day with my wife for no reason other than it.Why not?It’s Monday.That’s awesome.Forget about it.Former employer would never have let me do that,so yeah.Great point.

19:43
Are you ready to take your real estate investment sky high?The aim high REI is the perfect Facebook community for you get answers from experienced investors,connect with other motivated individuals and benefit from value resources.And benefit from valuable resources,all in one place.If that sounds like something that interests you join our amazing network today and we will help elevate your investing journey beyond what you think is possible.That’s aim high REI on Facebook.Or click the link in the show notes,the best part it’s completely free.

Bud Evans:
20:09
Okay,Flint,we are going to go into the soaring four.These are the same four questions that I ask every guest that might help a new aspiring investor achieve new heights.So question number one is,what is one thing that you use to keep you motivated?

Flint Jamison:
20:24
God there’s,multiple things,but one thing I,find it really helpful just to get up and walk.We were talking about it like a walking meeting.I walk my dog every day after lunch.I.Just to get away from the desk cuz you know the,desk is a grind.I got out of the rat race to get away from the desk and get away from the grind.And you,can very easily do that to yourself as a solopreneur.Yeah.So you gotta change your lifestyle a bit in order to,keep your mind,Dave.

Bud Evans:
20:51
Great.What is one thing that you learned that completely changed your mindset?

Flint Jamison:
20:57
What I found getting into syndications was something that was way different than what I had originally anticipated.I thought I was getting into syndications just to,get on this,great financial wealth rollercoaster.What I found was a group of people,a network of people who are super driven,who are always trying to provide value in life,who are To be honest,it’s just people who are motivated with energy.If you go to these,conferences and you’re amazed at the background of everyone,you’ve,you have school teachers,you have firefighters,you have people from all walks of life who are now like,you know what?I just want to do real estate because I can design,I can do life by design,and this is providing it,real estate is the vehicle.It doesn’t have to be sexy,but what it provides is something so amazing,and I think that’s the thing that I discovered.Unintentionally and that has changed my outlook because being around these people has totally changed my mindset.

Bud Evans:
22:01
Excellent.What is one thing that you use to keep you

Flint Jamison:
22:04
on track?I am not,good at that yet.Like time blocking all of that stuff.Putting down tasks,I’m still trying to figure it out.This is one of those things you always hear about,there’s always these hacks.You can use a sauna,you can use this,you can use that.Not everything works for everybody.Sometimes you just have to fight through life to figure out that one thing that works for you.And to be honest I’m,just still fighting through it.

Bud Evans:
22:28
Awesome.You know what,I don’t,it doesn’t matter.Time blocking and all that stuff is perfect,but there’s always a distraction anyway,right?Yes.Great.And what is one thing that you would change if you had to start all

Flint Jamison:
22:41
over?Take action.Take action much sooner.So even in the single family world.You think that you’re gonna try to educate yourself to be,to know everything before you jump.You’re never gonna know every,everything,and then you get in your mind and that voice in your head is,you’re still not good enough.You better go learn more,or you don’t have what it takes.So you try to learn more and then you’ll just be in a perpetual,not doing anything.Take action.If you want to get into syndications,the best part is you’re getting with a team of people.Who are experts in their own right.And they’re hopefully complimentary,so you only have to know so much.Just jump,just get in it.I would be in a much different spot in my life right now had I acted when I could have acted probably two years sooner.

Bud Evans:
23:27
That’s awesome.So I’m,just gonna say this real quick.I,because it’s something that I said during one of our one of our webinars,our weekend webinars having a W2is easy.All you gotta do is show up and basically just follow the simple rules and you can make it like getting out of the w2.It’s tough.You’ve really gotta want it.That’s a lot of value.If somebody wanted to reach out to you,Flint,how would

Flint Jamison:
23:52
they do that?Yeah,there’s a couple things.InvestWithFlint.com that’s the easiest to remember.It’ll take you to my company,vestiscapital.com.Or just,jam with me on LinkedIn.It’s LinkedIn/FlintJameson

Bud Evans:
24:06
I will make sure that link is in the show notes.Flint,thank you very much for the value add.I really appreciate it.It is a lot of information in25minutes,so I appreciate your time.I know you’re

Flint Jamison:
24:19
busy.Yes,thank you.It’s been a pleasure.Great.

Bud Evans:
24:24
If you wanna get in touch with Flint,Check out the show notes for his link.Until the next time,this is Bud Evans signing off.Aim High!