JF2528: 3 Steps to Vetting Potential Investors with Charles Carillo

After growing up with investor parents, Charles thought he would follow his dad’s footsteps and self-manage his future investments. That is, until he started syndicating. Today, we’re talking to Charles about how he approaches conversations with potential investors now, why his mindset changed from wanting to do it all himself to including investors in his deals, and how that helped move the needle forward in his goals. 

 

Charles Carillo Real Estate Background:

  • Managing Partner of Harborside Partners, a real estate syndication firm
  • Actively investing in multifamily since 2006
  • Current investor in over 250 multifamily units across 3 states
  • Based in North Palm Beach, FL
  • Say hi to him at: https://charleskcarillo.com/about‐charles/  
  • Best Ever Book: 80/20 Rule

 

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TRANSCRIPTION

Ash Patel: Hello, Best Ever listeners, welcome to the Best Real Estate Investing Advice Ever Show. I’m Ash Patel and I’m with today’s guest, Charles Carillo. Charles is joining us from North Palm Beach, Florida. He’s the managing partner of Harborside Partners, which is a real estate syndication firm. He has been actively investing in multifamily since 2006. Charles is a current investor in over 250 multifamily units across three states.

Charles, thank you for joining us, and how are you today?

Charles Carillo: Doing great. Thanks for having me on, Ash.

Ash Patel: It’s our pleasure. Charles, before we get started, can you tell us a little bit more about your background and what you’re focused on now?

Charles Carillo: I grew up in the real estate business. My dad was an investor starting in the ’80s in multifamily; he had probably about 100 units, and he had one part for some of them, but he self-managed them with a small team, so he never had a third-party management company. And I started — after getting out of college, he kind of pushed me to start investing into real estate. It was something that I enjoyed growing up and spending time with him, even though his properties were mostly C, some of them were Ds, which I wasn’t too interested in having any part of. But when I started investing in real estate, he made sure that I was investing in much better properties, so like C, C+ areas and above.

And I started investing in multifamily in ‘06, and started investing in commercial properties in ‘09, and moved to Florida in 2012. And since then, I’ve really been focusing on JV deals and also on syndication deals. So that’s what we’re kind of focused on now. And at this point, where we stand right now is we’re selling a couple deals and we are also negotiating a couple deals out and have two development deals in planning.

Ash Patel: Did you get into real estate right out of college? Did you just take over the family business?

Charles Carillo: My dad had actually liquidated everything when I was in high school; it was perfect. It’s fine. I did it on my own. I still had him as a mentor, which was the most important thing to have. But my dad was kind of going his own way and didn’t want to deal with it. And I think if he had brought on third-party management earlier, I think it’d been something that he would want to have held on to; but he only had a small portfolio of rentals himself that he self-managed. He still has some today too that he self manages, he has no third-party management on him. He’s never done that before… But I knew it was the way to growing, and once I brought on third party management, because I had a small portfolio I still have in Connecticut… And when I moved to Florida, I had to put the third-party management in place, and that was game-changing. Because after it started running correctly, and you kind of started syncing with your property manager, that’s when you could really grow. And now I’m not worried about the termites — what are they called, the three T’s of real estate investing? …and I could really focus on doing more acquisitions and kind of growing the business, which was game-changing.

Ash Patel: What was your start into real estate? And was it right after college?

Charles Carillo: Yes, it was a few months after college, I think it was October. So maybe like six months or something afterwards, graduating, five months. And it was a three-family that I house hacked and rented it. I had one roommate and then rented out the other two floors to college students, who was about a mile and a half from the college I graduated in, in Connecticut. So that was good for two or three years. And then they start moving out and doing their own stuff and just rented them out; it was very easy to rent out. So it’s easiest way of house hacking, I think when you’re going in with multi-units, versus just having a single-family house and renting out bedrooms, which I feel is kind of a mess, because it’s a whole nother level of due diligence you want to do to have a roommate, versus someone that’s just renting a unit from you that’s down the hall or upstairs or something like this that you run into occasionally.

So that’s how it started, and I then bought another three family about a year or two, about a block away from that. And then in 2009, we had this huge pullback and I bought a small mixed-use commercial property. All this stuff I still own today, maybe two or three blocks away from that; all my stuff in Connecticut is very close to each other. So it made it really easy when I was self-managing it from ’06 to 2012. And then I brought on third-party management to it, which – I should have outsourced a lot more stuff, even self-managing it. That’s what my dad had done before. But I didn’t in hindsight, right? But now we take into consideration, especially on smaller joint venture deals when we’re not syndicating, and the management such an important piece of the puzzle because of that asset management; the property management can make or break your property.

Ash Patel: Were you not managing them effectively? Why would they do a better job than you?

Charles Carillo: Because we’re walking properties. Back then I was doing some flips as well, but it wasn’t something I really focused on doing. When we were in ‘09 or 2010, tons of stuff was going for pennies and the dollar of what you looked at before. So it was like you’d be walking properties with real estate agents in the morning and different brokers and you got a call that comes in and it’s some small issue, or someone wants to meet you to pay rent, which is a good problem to have, but it’s very difficult when you have dozens of people trying to pay you rent on a couple days a month and you have to now — everything’s a special arrangement to meet with that person. And having someone just 100% deal with the calls, deal with the accounting, the bookkeeping, everything like that, and all you’re focusing on is reviewing deals, and underwriting and looking at comps and negotiating and putting out offers… That sounds like a lot, but you’re all under one hat.  You’re not, “Oh, now I’m a plumber, and now I’m opening up doors for the utility companies, and now I’m signing leases,” and all this kind of stuff that you can take off your plate, and is rather inexpensive, and that’s something too I probably didn’t know off the bat…

But it’s also stupid stuff I was doing in the beginning, which I finally had contractors do, which was mowing lawns and stuff like this, and you’re like, “This stuff never should have been done. I never should have bought a mower after college.” What are you doing? I mean, you’re 22 years old. What do you know?

Ash Patel: It’s an evolution that a lot of people go through, including myself. Charles, you said in ‘09 you focused on commercial properties – is that non-residential commercial or multifamily?

Charles Carillo: It’s the 5+ units.

Ash Patel: Okay.

Charles Carillo:  And this one I had—so to answer your question, it’s commercial multifamily. But we have a small storefront in this one building. And the benefit with this is that you couldn’t get financing; it was very, very difficult to get financing in ’09 or 2010 on really anything that wasn’t the one to four units. So I actually purchased this for like 27- 28 cents on the dollar when it sold for two years before, from a bank. I actually put an offer in 30% less and they actually countered it  [unintelligible [00:06:56].04] with all cash, and ended up refinancing years later. Even trying to refinance that a year later, the banks were like, “Yeah, we’ll give you a quarter of what you paid for the property.” And you’re like, “Really? I sold a property and you guys are going to give me only a quarter of what I paid?” So you had a hold for that time in cash a lot longer.

It wasn’t like now, where you buy something and six months or a year you can find a local bank to get you out after that seasoning, which is usually six months to 12 months, depending on the lending institution. But back then, banks were really skittish and they had tons of stuff still on their books. And that’s where you get the deal done; there’s pros and cons. If you were flipping, you’d be crazy to flip anything that wasn’t one to four units.

Ash Patel: Did you say that you’ve never sold any of your properties?

Charles Carillo: Anything that I’ve owned, 100%, I never sold.

Ash Patel: Okay. That’s a regret that a lot of people have, today especially – they wish they never sold anything. Where did you get that foresight from?

Charles Carillo: I think I read it years back in a book and I forget the name of the book, but he was explaining to it that it’s better just to refi, take your money out… And in this situation, it was kind of crazy because I got debt on this property, the one I’m just talking about – I refinanced in 2019, actually. Usually, if anybody has ever refinanced small commercial properties, it’s five years, seven years, 10-year terms; I got 25 year fully amortized term loan on this. So it’s like fantastic, because I never have to refinance it again. And I pulled out a bunch of money and I reinvested in some other properties we had in Tampa. But the thing was that, you can always refinance the property out. And if you just keep it now, I just make sure I keep that leverage really low, at like 65% or 60% on smaller multifamily, because the real goal on the smaller multifamily is to get them paid off.

I think when you’re getting into 20-30 unit properties, they’re more consistent, they’re less volatile, so you can put a little bit more leverage on them, and you can run it more or less like a complex, where you know you have a consistent cash flow. When you’re on smaller properties, five, seven units – I mean, you have three people that don’t pay for whatever reason, you might not be able to cash flow that month. So on those properties, it’s always been my goal – anything smaller, the goal is to get long-term fixed debt and get it paid off.

Break: [09:03] to [11:05]

Ash Patel: Let’s dive into that for a second. Why do you want to pay it off?

Charles Carillo: I think on the smaller stuff — I know you should keep on refinancing, that’s the aggressive way. I just feel that when you’re in those properties, if you’ve ever owned small multifamily, small commercial multifamily, they can be pretty streamlined, but they can also be pretty volatile. If you have one person that’s not paying, one person that pays rent late, you have one being turned, whatever it might be, you might have 40% just with two people not paying rent and you find out that that property is not cash flowing as it was before when you plugged in your numbers and, hey, 7%, 5%, 10% vacancy, whatever number you’re using when you’re doing your underwriting.

So my goal on the smaller properties is I get fixed term, long-term debt on them and I’ll pay them off. If I need to, I can always refinance them at a lower amount. That’s kind of have been my approach on that, because it always will cash flow; you have some of these properties that I have, if you have no debt on them, you have two tenants not paying, you still cashflow without the debt. So that’s a huge benefit to it.

I think on the larger properties, whereas say if you have 20 units plus – let’s just use that – if you have five people not paying rent or something, or paying late or whatever it might be, you still have 15 people paying to make up that mortgage payment to pay all the other fees, the management fee and everything else that goes along with that operation on that property.

So on that, I wouldn’t have a problem with refinancing that every 5-10 years down the road and pulling a little bit of money out. But also keeping your loan to value not like 80%, keep it a little bit more conservative; 65%, maybe 70% is usually what most banks will do for a good refinancing. So that’s kind of my goal on those larger deals.

Ash Patel: Good. So it provides a bit of a safety net if you need it. And is that mentality what got you through ‘08 unscathed?

Charles Carillo: Yes, I didn’t see too much of an issue with it, it’s just you weren’t seeing a lot of rent increases. And then when you’re dealing with tenants—and I remember one time I probably lowered rent between tenants. And other than that, you would rent it and be increasing rent by 2% or 3%. And just knowing you don’t have any balloon coming up, especially then – because what happened in 2007, 2008 lasted many years later. So if you had a balloon in that next five years, let’s say, a lot of small lenders didn’t come back until just several years ago. So during that time, if you had something that ballooned, where are you going to go with it.

Another smaller property I had, when I refinanced it a few years ago, as I was speaking to the bank few months and they’re like, “Oh, we’re still not loaning unless it’s 50% loan to value,” which is crazy and that just means you don’t want to loan money.

A lot of loan programs [unintelligible [00:13:34].27] skittish, even during COVID. Some of the small banks you don’t really hear about, because most people are talking bridge loans, which everybody can get, and then Fannie and Freddie. But the smaller ones that you need for these properties that are under a million dollar in loan size, some of these lenders aren’t even back in the market, or they’ve considerably — “Hey, we used to refinance at 70%. Now we’re refinancing at 50%.” Well, if you haven’t added value to your property for, let’s say, five years or four years since you’ve purchased it, you’re going into your pocket probably to refinance it.

Ash Patel: That’s a good point. So, Charles, you went through the typical single-family, three-unit, another three-unit… How did you eventually get to syndications?

Charles Carillo: It was something I was avoiding for years. I just didn’t want to raise money and deal with all that, and I really liked the progression of doing stuff on my own and having a system in place and going with myself, and I was starting working with my brother… I think the way that we found out years back, the only way we can scale the business was to go that route. And even if we weren’t doing typical 100+ unit properties to start off with – we were doing a little smaller properties – we were able to really bring in investors on because people had been asking me during this process because it was years and years I’d been investing in real estate, “Hey, how can we invest with you?” And I had no idea and I really don’t want this person as a partner. So syndication was a great way of, “You can put your money in, but I don’t feel like running everything by you. I know how this runs and you’ll get your money quarterly and this is kind of how we’ll do it.”

So syndication was a great way of doing that, and it really allowed us to scale and be able to put a little money in these different deals, and get them running, and then have someone from our team follow up with them with a lot of the busy stuff that I didn’t like doing, as we spent our time just dealing with the property managers and the overall plan of how we are going to market it and how we are going to reposition it.

Ash Patel: What was your first syndication deal?

Charles Carillo: We did a 59 unit in Tampa, which we are selling right now; it was actually 81 units [unintelligible [00:15:26].19] we had a 22 unit out of that that backed out. So what we did was we purchased a 32 unit and then 27 units around it. And they were all threes and fours; I think it was one, three, and the rest of them were quads, around this 32 unit complex. So it gave us a little bit of scale in the area. And now we’re selling it all as a package deal. And we got a little better price on it because we were buying smaller. And obviously, a 32 unit – no syndicator wants to tell people, they’re syndicating a 32 unit, but 59, you get some scale. And then we did it again a year ago in Tampa as well. And we did a 68 and a 22, and put together for 90 units. And now we’re taking something like this where we had — the 68 was much more stabilized. And I think we paid about 74-75 a door for, and then the 22 was in just not tough shape, it was in management tough shape; it was just mom-and-pop run into the ground.

The owner was paying his ex-son-in-law 15% to manage this property into the ground. So I think we paid 55 a door for it. So the investors overall in that, were paying the mid-high 60s for these properties, and now we can sell that as a package deal. And now you’ll get a call back from a syndicator when you say, “Hey, we have 90 units,” because it’s spread around that 100 perfect number. But if you say a 60 or a 22, no one’s going to call you.

Ash Patel: Yes. Your initial investors, were they friends and family?

Charles Carillo: Yes, two or three of them were close friends, and then the rest of them some business partners as well. And a couple of them had just been asking and asking about it and say, “Hey, how can we get involved? We have this money”, stuff like this. So when I sent it out to them, “Hey, this is what we’re going into, and this is what we’re doing.” And they were all on board, it was very easy. I had more kick-outs in our second syndication than we did in our first indication, because people are already on board and understanding what’s going on, and we had already kind of coached them through how that all works. And then on the second one, those investors again, plus also other investors that you maybe don’t have as long of a timeline relationship with, and that’s where you start having that higher kick out from those investors when you’re actually, “Hey, when are you wiring the money? And when are you signing?”

Ash Patel: And when you say kick out, it’s people who verbally committed but didn’t follow through?

Charles Carillo: Right. And we did a pretty good vetting on it, so I can’t say it was something on our end directly. Obviously, every time you do something, you figure out what could be fine-tuned. That’s why I always tell syndicators, [unintelligible [00:17:40].02] new syndicators, I’m like, “Listen, you need a million dollars? Make sure you’ve got $2 million lined up.” And not that it was that bad at all; it was maybe a 10% or something like this of funds, a little less than that, that probably kicked out. But the first year, we did had no one out of my portion of it with the general partnership that they kicked out. But that’s something that you just really have to make sure you’re over-raising for. And a verbal commitment of you having a beer with a guy at a bar and saying, “I want to invest in real estate.” That’s not really a verbal commitment.

A real verbal commitment is we’re having this call, or you were on this webinar, or we’ve spent time specifically talking about this deal, and all the pros and cons of it, not just general deals of real estate.

Ash Patel: I love this analogy. Your first syndication – you were probably nervous, worried about if you’re going to be able to fill the subscription… So you probably put a lot of time and education into your investors. And then you had a win. And you figured out your second one, you’ve got this, you already got the first one under your belt, and maybe you rested on your laurels a little bit.

Charles Carillo: Yes, I think so. When we were raising for it, I had new people that were in the funnel, and they hadn’t been as vetted; you don’t have that relationship. People reach out to me, and I imagine people reach out to you and you kind of think, “I’m just going to write that as not an investor; we’ll have a conversation, we’ll do it.” But you don’t really know until you know, so… It’s great, because the other partners that I was with were like, “Okay, I’ve got that, we have someone on the waiting list.” “Oh, well, I’ll fill that if there’s some problem.” And that’s what’s dealing with good partners and having a great base that you’re working with. But it’s funny how that works… It was opposite for me, which is funny.

Ash Patel: Are there any tips that you can share that will help vet some of these potential investors?

Charles Carillo: Whenever someone reaches out, I get them on call and take notes and kind of feel out what they’re doing… And then when you’re sending out a deal, try to get a one to 10 on them about where they stand. A 10 being, “I’m at my bank wiring the money.” One being, “Keep me on the list.” It’s like pretty much the lowest you can go without them saying “Unsubscribe me from your mailing list.” But to get an idea there and really figure out and then just move them down a couple notches if they say there are seven, they are five… And then you can kind of go raising additionally on that and then just kind of stress that, how important it is to give me — and also stress too that “It doesn’t matter… I can put you on the mailing list today and if you haven’t invested in 10 years, you’ll stay on the mailing list.

I’m not going to call you and bother you.” Everybody has different investment cycles of when their money goes out and when it comes in, right? “We spoke a month ago, two weeks after that, you already invested into something, you won’t have your money back for 3-5 years.” That’s fine. That’s how everything works. I imagine investors with me had other groups that they were talking to. And they never moved forward with that, because they moved forward with something we were doing. So it goes both ways.

It’s just really knowing what the intention of your investors are… And then also, when you’re talking to them and keeping in contact with them, say, it’s every three months or every four months or every two months, depending on how far in the future you think you’ll have another deal, is really seeing their response rate. “I spoke to him on the phone, I never heard back from any of the emails or any of the calls.” “Okay.” Or, “Every time I email this person, I always get a response back within a few hours, or within a day.”

Well, these are all things you’ve got to keep in your CRM and make sure that you know, because someone that said they want to invest, but never responded to your next four emails over the next year… Well, what’s the likelihood that person is going to respond to your deal email? Unless you’re sending out these emails to them that are six paragraphs, like a story, right? Because I’m not going to respond to that email; but if you give me two or three sentences on, how’s everything going? Where are you investing? What do you see for the market? And whatever else is going on. That touch base email – that’s really important, where you can kind of gauge, because I’ll have a call and be like, “Hey. A call is okay.” And then you go up in the follow-up, you’re like, wow, this person is really—keeps on asking me every email for deals. This is a very solid person when I put them through, because they’ve now built that relationship, even if it’s not face to face, like you would have a typical relationship now after the COVID thing here, how we do it… It’s like, “Okay, now I have an idea of where they stand.” And if they give me the okay, now I can look through their profile in the CRM and say, “Okay, this is a very solid investor, and I should really take this seriously when they do give me a soft commitment saying they’re going to invest $50,000 or $100,000.”

Break: [21:50] to [24:54]

Ash Patel: I love what you said about asking the investors if they’re a 1-10 and I think that solves a lot of problems here. One is they may feel obligated, since you’re on the phone with them. “Yes, you know, I’m interested. Yes, put me down, put me down.” But if they can gauge where they are from 1-10, and if they know that there’s no fear of getting kicked off the list, they can comfortably say, “I’m a four or five. Let’s just keep the ball rolling, keep me on the loop for future deals.” So I love that, because it takes a lot of the guesswork out of where they stand. Great advice, thank you for that.

I want to rewind a little bit – you initially had the mindset of you are not going to take other people’s money, you were just going to do it on your own. And then you had this monumental shift, where you now had to attract investors. What are some of the things that you did to change that mindset and engage more with investors?

Charles Carillo: I was talking to a mentor years back, and he was explaining that all these large private equity firms, all these large investors, household names, let’s say in the investing world – that’s how they’ve made their money and how they’ve grown their business. And maybe they started, like — even Warren Buffett, he started with some small limited partnerships. And then he started taking money on a large scale and running an SEC enterprise that’s compliant with all that and now a publicly-traded company.

So the thing  was that — the only way they had really to grow to the next level… And you have your own capital, but obviously, you run out at that point… And I think that the shift of now having to attract money is a little different, because you’re not going and doing your normal investing activities. You’re going out now and you’re explaining more about what you’re doing, which is very interesting to most people, but it’s a little different. And you’re really changing hats when you go from, “Hey, I’m Charles, the real estate investor,” and I’m talking to brokers, and I’m looking at deals, I’m telling you why this deals not going to work for me, and I’m telling you what I exactly want, compared to now I’m documenting that, or I’m explaining it to a third party which isn’t in front of me, like you’re putting it through a thought leadership platform and explaining what we’re doing. And then it’s very interesting, because with my podcasts and with the YouTube, and then you start hearing back from people that are saying, “Wow, this is very interesting. This is a great clip.” You’re like, “Oh, wow, that’s really helping someone.” And it’s a different way of going about it, which most real estate investors – they’re not really spending time on that part of it. But when you go the syndication route, now, it’s not just finding deals and sourcing them. Now, it’s also sourcing the money… And preferably you have two partners, so you can help yourself do that.

Ash Patel: Yes, I love hearing that. So thanks for sharing that. What’s next for you? What’s on the horizon?

Charles Carillo: Right now where we are, we are planning out two different development deals, and we’re selling two deals that we have right now, currently. So the price is just to keep on going up here and where we are in this portion of the market cycle… So if it continues, we found land and we’re building on a couple deals that we’re in planning right now, stages four. So we feel that’s really the next stage of where we’re going to be going. And that might be the game plan for the next four or five years down the road, depending on how everything with housing is [unintelligible [00:27:54].15] And I think also still looking for good value-add multifamily deals where we have a true value-added component, because I always feel like in just raising the rents is not a true value-add; I think there has to be something else.

So if you’re going through a down market or if you want to protect yourself against the down market, it’s also finding a way of making the property more efficient, because everybody was saying they’re raising rents, and then we go through COVID, and let’s be honest, the majority people didn’t raise rents anywhere near what they thought they’re going to in 2020. So a lot of missed projections. But if you were able to make your property more efficient and shave off a few percent here on your expenses one way or another, that’s another way of adding to the NOI. It’s like that old adage with someone selling your house, a realtor, “Hey, if you can’t get the price we’re talking about, what else do you have up your sleeve other than lowering the price?” And I think that’s a way of when you’re dealing with making expenses and making your property more efficient that you can do in an up, down and sideways market.

Ash Patel: More great advice. Did I hear you say that you’re doing ground-up development now?

Charles Carillo: Yes, we’re in the plans. I have one of my partners—I have two partners, actually; one of them’s a spec home builder and the other one is a project management in construction. So it’s kind of gives us a great base of what we’re doing and where we’re focusing.

Ash Patel: What are the returns for your investors on a typical syndication that you do?

Charles Carillo: Well, we do a lot of 506(b), so I don’t really want to go into too much on that… But on the ground development, it will definitely be higher. And from let’s say, a typical syndication is probably like mid-single digits, mid-teens, let’s say it’ll probably be several percent higher than that. But you’re also not getting cash flow for the first couple years. And that’s the trade-off. So it’s a different investor that you’re attracting that says, “Hey, I’m going to invest. And I know that this thing’s not going to be built for 18 or 24 months and I’m not going to see money back starting for another 24 months… And maybe build it, rent it, sell it, and maybe it’s not for 36 months.”

So it takes a different investor and that’s something else when you’re doing those calls, having an idea of what your investors are actually interested in. Because some people want to put money in, and one month or three months or six months down the road, they want to start getting those first distribution checks coming in, like everybody does, right? I had a call with an investor last week and he’s like, “Oh, that’s great. But how can I keep it invested longer where I don’t get it back?” and that’s something that would be a perfect fit for someone that’s planning on investing in development.

Ash Patel: That is another gold nugget of advice. Because you’re right, investors are different. To some it’s kind of an accounting headache when they get these monthly or quarterly cheques. Really, they’re just in it for the long run and for the big payoff.

Charles Carillo: Right, exactly.

Ash Patel: Yes. Great point. Charles, what’s your best real estate investing advice ever?

Charles Carillo: I would say to have your goals planned out before you start; just don’t have just for this deal. Make your decisions on what you’re investing in by having already your 15, 10, 5 year, 1 year goals planned out. And then knowing what you can do daily and weekly to reach them and see if this deal you’re looking at is actually going to move you closer to those goals.

Ash Patel: Charles, are you ready for the Lightning Round?

Charles Carillo: I am.

Ash Patel: Let’s do it. Charles, what’s the best ever book you recently read?

Charles Carillo: 80/20 Rule, a fantastic book by, I think, Richard Koch.

Ash Patel: What was your biggest takeaway from that?

Charles Carillo: Just the ability of knowing that when you look back on anything, personal or in business, the majority of your progress, of your profit, of your improvement on yourself and your business is done with a very small percentage. And if you break that down even more, 80/20, 80/20, you find out that 50% of your progress comes from only 1%. And that’s a very powerful takeaway once you keep on cutting through and running that equation.

Ash Patel: Charles, what’s the best ever way you like to give back?

Charles Carillo: My wife and I, we do monthly donations to select the charities that we like, and we like picking a new one, whether it’s every month or every quarter. And that’s how we like doing it, because then we can touch a lot more people with a lot more things that are important to us.

Ash Patel: That’s another fantastic mindset right there. What a fun way to donate.

Charles Carillo: Yeah.

Ash Patel: So Charles, how can the best ever listeners reach out to you?

Charles Carillo: If you’re interested in investing in real estate, whether it’s active or passive, you don’t have to be someone that’s interested in the syndication, just maybe you’re wanting to take down your first three-unit, I do a free 30-minute call. So feel free to go to my website and you can go to the direct page where I schedule out the 30-minute calls; it’s https://www.schedulecharles.com/, which will take you directly to my website and the exact page at https://charleskcarillo.com/.

Ash Patel: So if somebody is just looking to invest on their own, they can still take 30 minutes of your time.

Charles Carillo: Definitely. Whatever you want to talk about, we’ll talk about that.

Ash Patel: That’s incredible. Well, Charles, thank you so much for being on the show today. You’ve given us a lot of great advice on interacting and networking with investors, and really getting down to what it is that they’re looking for and how to match opportunities to them. So thank you for being on the show.

Best Ever listeners, thanks for joining us, have a best ever day.

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