Welcome to Episode 21 of the Crushing it in Real Estate Podcast! This week we have Darin Batchelder, founder pf TZK Capital and a real estate syndicator located in Texas. Darin is a principal owner, asset manager and lead sponsor on 76 unit townhouse community in Crowley, TX. A key principle on FNMA non-recourse loan on a 154 unit apartment community and a limited partner in 14 properties with 3,944 multifamily units! Join us this week as we deep dive into Darin’s wealth of experience. Please enjoy!
Bryan: [00:00:00] Hey guys, welcome to another episode of Crushing in Real Estate. This week you have Darin. Darin is a superstar real estate syndicator in Texas. Grew really excited to have him here this week. Hey, Darin, welcome to the show.
Darin: [00:00:17] Thanks for having me, Bryan. I appreciate it. Awesome.
Bryan: [00:00:20] Hey, can you walk us through how you got into real estate and your real estate journey?
Darin: [00:00:25] Uh, absolutely. So I’ve, I’ve had kind of changed career paths. A number of times I started out as a CPA with Pricewaterhouse, uh, went to work in international audit, uh, for PepsiCo and. I then wanted to get out of the accounting world and got into sales in the software space. So I was in the ERP software space with a couple of different companies, um, right before, and then also during the .com boom.
Um, then I transitioned out of, out of software and went into, um, um, basically working on a trading desk for a top 20. A worldwide bank, selling large portfolios of resident residential and multifamily loans between banks
Bryan: [00:01:15] So you went from accounting to software, to sales, to trading, and then real estate
Darin: [00:01:21] Exact. Exactly. And then, then I was there for four years and then I went and started my own business trading loan portfolios.
I opened that business in 2007. I still have that business, um, worked with. Regionals large multinational banks, um, as well as community banks across the country. And, um, a couple of years ago, I just decided I kinda, my business freed me up with some time and said, I want to get into real estate, but I really didn’t have an interest in doing single-family. So, um, I was looking to try to find a way to go bigger. And I went and bought a duplex.
Bryan: [00:02:02] Okay, That’s pretty big.
Darin: [00:02:03] That’s just the start and, and realized that you know, it was going to take me a long time to build up a big portfolio. So I went to look bigger. I got involved in a mentorship group and, um, and then got into multifamily syndication.
So it’s been a great, great couple of years and I love the space. I love the people I’m meeting. I love the people that put on podcasts. Um, it’s just a, it’s just an industry that everybody likes to work together and likes to help one another. And I love that.
Bryan: [00:02:34] I definitely agree. I mean, just for our listeners.
Darin and I actually haven’t met yet, but he’s super nice to let me interview him for the podcast. So don’t ever be afraid to reach out to people who are much better than you. That’s how you get that’s how you grow your network.
Darin: [00:02:49] Well, I don’t use those words. We’re all helping each
Bryan: [00:02:59] I agree. So you got into real estate syndication a couple of years ago. What was your first project? Like, were you on the GP side of things or LP side of things?
Darin: [00:03:09] Um, so I started out as a limited partner. I wanted to see what it was like from the other side. So, um, I actually invested in seven different syndications.
Bryan: [00:03:20] Wow.
Darin: [00:03:22] With seven different sponsors too. Um, so it gave me a good feel for one, the process of the documents that are involved the first time you do syndication as a passive investor, um, there’s a number of documents that you have to sign up for it, which is different than just buying a stock, you know?
Um, so, um, you know, just getting accustomed to those documents and then, um, looking at the difference. Um, approach, and a different, um, philosophy and different style that each sponsor has, of course, gave me a good feel for, okay. I like what they’re doing here. I liked what this guy is doing over here. I want to kind of mix and match and, and create my own style.
Bryan: [00:04:09] That’s really amazing. So how did you find these real estate syndication projects? How do you, you have any tips for our listeners?
Darin: [00:04:17] Um, absolutely. So, um, you know, two, two major ways, uh, for me, I was looking to not only invest passively, but I was looking to learn the business and become a syndicator. So, you know, I could have done it on my own, but it would’ve taken me much, much longer. So I actually joined a mentorship group. Um, there’s uh, the metric group that I’m a part of is, is the Brad Sunroc group. That’s based here in Dallas. And, um, it, it, it just shrunk the time that it would’ve taken me to be successful.
Um, tremendously because you know what there’s one part is the, is the education piece. But I knew a lot about multifamily from trading multifamily laws for years. I didn’t know how to buy a multifamily property. Um, but I knew the lingo. I knew that you know how you underwrite it. Um, but it was the network.
So once I joined that mentorship group, I’m exposed to all these people that have already done what I want to do. And so, you know, not just for syndication, but with anything, you know, if you read good business books, they point you to. Hey, if you want to accomplish something, find somebody that’s already done it, find out how they did it, and just follow what they did.
And that’s what I got out of the multifamily mentorship group. There were a lot of people that had already been successful and I was able to lean on them, for things like. You know, building your teams. So, you know, who’s the attorney that you guys see, who’s the inspectors that you use for these big properties.
I had a concern. I come from a finance, accounting, and finance background, not an engineering background, and I didn’t want to go and buy a five or $10 million asset and not know. If there was, you know, issues with the foundation or issues mechanically, um, you know, that’s not my expertise, but the group has relationships with a few inspectors that do a lot of business with other people.
So there’s, you know, they have skin in the game because if they mess up a project, one syndicator, don’t talk to other syndicators. So. If it was key to be able to get to, you know, a lender, property management company, and spectrum team. Um, and then also just have, you know, on my cell phone, people that I can call and say, Hey, what are you doing this situation?
You know, so invaluable having that net network.
Bryan: [00:07:00] Definitely. I think you also bring up really a lot of good points too, is that when you follow these people who have done it before. Success leaves a lot of clues, you know, especially in real estate where you really don’t have to reinvent the wheel. You just have to follow certain steps.
Certain people do at the same time. It’s like, you have to figure out because everyone has, everyone has their style. You have to figure out what works well for you. You know, like
Darin: [00:07:23] you’re exactly right. One thing I would add is that when you think about, you know, you know, for me, I mean, I’ve been in business, started my own company.
I’ve treated, you know, over 4 billion in loans, like, but it was still a new project. There was still something that I hadn’t done before. And there’s a lot of steps there going into a process and almost each step. You know, there was fear, but you know, there’s the unknown. And, um, you know, my advice to your listeners getting involved is, don’t get hung up on the fact that you have to know it all right away, just focus on the next step.
You know, the next step that you’d have to do. And then you work on that step and then you start to master that step. And now when you look back on it, That step. You’re not nervous about that stuff, but you’re now you’re nervous about the next one. You’ve got to push through that fear. You know, you push through that fear and then you get over that and, and you have to have faith and determination and yourself, you know, to get through the whole process.
Bryan: [00:08:37] Yeah. I liked that a lot. I mean, it was your approach. It’s like you could avoid analysis paralysis type of thing where it’s like, you get too scared. Like they don’t even make a move, you know? Cause I think the worst thing you can do is like, Just have that fear hold you back in two years from now, you’ll look back and be like, man, I wish I took that step forward, you know, and
Darin: [00:08:58] absolutely, uh, I’ll give you an example, even on the passive side.
So I invested in one deal really quick. Um, once I joined, I met a couple of guys that I really liked. I got into their next deal, the next, uh, passive opportunity that got emailed to me. Yeah, I got it. I was like, I’m going to drive down there and check out the property. It was about 45 minutes South of where I am.
I drive down there and like, Oh, you know, it’s right next to an auto body shop. Like, you know, it’s like there were some cars in the parking lot that, you know, I was like, I don’t know if I like this, you know, this property. And, and I liked the syndicator a lot. Um, And I passed on that deal. Okay. Well, I started looking for my own deals and it’s probably two, three months later and I’m, I’m looking at some other properties and I drive by this property.
I look over, I’m like, Oh no, that’s the property. I went. I looked at it like the first month after I joined, I said, I would buy that property all day long now, but in the beginning, like I hadn’t seen enough, you know? So, I was looking at it from a perspective of, I wouldn’t want to probably live there but in terms of.
Looking at it in terms of an investment opportunity. Hey, there are things I could do to make this property nicer and nicer for the tenants that live here. And there are already other properties down the street that have proven that they can get higher rents if they upgrade the facilities. So I had a change of mindset.
So the same property. Yeah, three or four months later, and I would have invested in that deal all day long. So, you know, there’s a lot of steps like that, that you just have to go through, um, to, to get comfortable.
Bryan: [00:11:04] Yeah. I mean, it’s repetition to get better and better, you know, and it’s, it’s also the same with me and flipping as well.
Darin: [00:11:14] I’m sure you’ve gone through that.
Bryan: [00:11:15] Right? Exactly. I looked at some houses where at the beginning of my career, I’ll never flip them like, Oh, did anyone touch this crap? And now I’m like, why can’t I find any more, just crap.
Darin: [00:11:29] You see value in it where you didn’t see the value before. And that comes with experience. And I also think that, um, I would imagine this happened to you on a single-family side as well, is that aye know I’ve had this experience on the loan trading side. I had it here on the, um, the family side. I’m sure you’ve gone through where, you know, you look at a deal and you may, I think it’s overvalued or you, or you can’t get to the price and then you see somebody else pay more for it. Yeah. And, and once you start seeing one, two, three, four, four properties trading or similar values, then you start to realize that’s where the market is. You know, I, if I don’t, you know, if I don’t up my price, I’m not going to get anything. And then, and then you see then take that property, which, you know, the first one you’re probably like. Like I overpaid. And then all of a sudden you see, he puts work into it and he sells it for a nice profit. Wow. You know, I missed out on that opportunity. And so you start to develop that confidence on one where there’s the market and two. You know, having the courage to actually step up definitely and put a bid on it.
Bryan: [00:12:58] Yeah. I mean, you definitely bring up a lot of good points too, you know, like it comes all the way back to how well do you know your market? I can’t, I can’t emphasize that enough. Like, you can’t make these like, quote-unquote, like risky decisions. If you don’t understand how the market is performing, you know, a lot of times that you kind of just take someone else’s word for it. And you’re like, okay, I saw so, and so said the market is doing really well here. But unless you do your own due diligence, like you can get burned really, really quickly, you know?
Darin: [00:13:27] Absolutely. And, and each little submarket is different, right? I mean, you know, so it’s knowing the area, knowing what other comparable properties are, are around to, to value them definitely. And, um, you know, also we’re, you know, we happen to be in a very good place in the DFW market here in Dallas. Population growth. You know, people keep moving here and the properties that we look at, the syndicate, our BC properties built in the 1960 seventies and eighties. Well, they’re not building any more of that, you know?
So there’s a finite amount of 60 seventies, eighties products. All the new apartment complexes are. New construction complexes that are going to be much, much higher price point level. So the people that are moving into the town. Moving this into DFW, they’re looking for an affordable place to live. Um, you know, they’re ha they’re having to go into this BC market.
So it’s giving, uh, it’s providing the opportunity to upgrade. And if, if there’s certain tenants that, you know, they don’t, they don’t want to pay the upgraded price, then they, you know, they’ve moved down the street at a. You know, one that’s run down. There’s somebody else moving in the town that she’s valued in that.
Bryan: [00:14:52] Definitely. I think he also brings up a really good point too. It’s like you have the certain criteria that you look for, you know, you know, for a factory to target is BC buildings built-in 1960. I think that a lot of, I would say like new investors come in and be like, Hey, I just want a C class building, but they kind of neglect what year it is. Cause C class can mean a lot of things, you know, B class can mean a lot of things like that’s the fact that, you know, what year you want and what kind of condition you like. That’s just really, really strong for a strong criteria to become a successful syndicator. In my opinion,
Darin: [00:15:24] You know, it’s kind of a broad range. Sixties, seventies, eighties, I bid on a lot of properties that were in the 1960s and seventies. Um, before getting, uh, the first deal, which, so the properties that are bidding on the sixties and seventies, I didn’t end up winning those deals. Um, They have boilers and chillers. I don’t know if you’ve heard of that before.
Um, but you know, basically a large AC power property, you know? So if, if that goes down in the middle of the summer, every one of your tenants is not happy and it’s not a matter of a quick fix to replace it. You know, one it’s very expensive to get a new one. And then two it takes some time to put one new one in.
So, uh, when I, when I got the opportunity for the 76 unit deal, it was actually an early eighties, uh, product and it was townhomes. So they have individually seen individual hot water heaters. You know, I’m very thankful that I didn’t have to deal with the maintenance of a boiler or a chiller. Having said that. I’m still looking at those properties today from our second deal, you know, I don’t know what I’ll end up with, but..
Bryan: [00:16:37] Definitely. Can you kind of walk us through the 70, 60 unit it’s our first syndication project, right?
Darin: [00:16:42] Yeah, absolutely.
Bryan: [00:16:43] Definitely. What was your mindset like going through during this all on the GC side of things? GP side of things. Sorry.
Darin: [00:16:50] So, you know, in the beginning, just like the sport, the passive side, you know, she’d go back. You know, I’ve probably put my first offer in March of 2018. Yeah. And, um, I came home, my wife told her, I put my offer in, it was a 64 unit deal in Denton. And, um, she’s like, are you excited? And I’m like, I’m scared shitless. What do you mean? I’m like, what if they. accept it, you know, I don’t know if I’m ready, you know, so I was, I was still fearful, like, but there were two, two other parties that outbid me and I didn’t win the deal, but that gave me confidence that I wasn’t overpaying that, you know, the underwriting, you know, worksheet that we were using was legitimate. And we were, we were looking at it correctly. Um, so. No. I, I looked at a number of other deals and bid on a number of other deals between March and September and, you know, didn’t land those deals, but each deal I learned and I also got, became more and more confident, you know, on each one of those deals. So when it came time for this one, I was working with a broker that I worked on another deal with. I didn’t win that deal, but we had a relationship. Um, he, he ended up telling me, Hey, check out this deal. I looked at it and I was going to, um, you know, I drove by it and I didn’t know that submarket. And I was going to pass on a deal. I called him and said, I’m going to pass. He called me back three days later and said, Darin, you have to meet me at the property. So that was, you know, that’s key. Because if, if I hadn’t developed a relationship with him on another project, even though I didn’t win the deal, he wouldn’t have called me and said, you know, Hey, you need to, you need to take a look at this property. And I probably, I probably, you know, I looked, I might still be looking for my first property. So I went down there, I looked at it and then what he told me was true. And, and so I was like, yep. I liked the property. Now I have to dig in. More and make sure that I can, you know, raise the rounds. I’d go look at some other properties in the area and try to find out, you know, what are they leasing units for and what are their, what the property looks like? And if I can bring my property up to their level and I get that rent, and, um, you know, I just happened to go into a few properties and. Be just open and spill the beans. This market is so great. We’re raising rents like every three months, people keep moving in. Um, you know, it’s a great market. Incomes keep going up for our tenants. And, uh, and one of them actually knew the property that I was looking at. They said, you’re looking at this property, aren’t you? And I said, yeah. And, uh, she just went off saying I lived in that town for 10 years and, and, uh, you know, I think it’s in a great area, you know? So all these little things that made me feel like the deal’s getting better, you know? Um, then I went and I couldn’t do the deal on my own. So I got to the point where I got all the underwriting. I felt like I had the chance of winning the deal, but they’re not going to award the deal to a new guy who doesn’t have any experience. So I need to partner with somebody.
So. I’m like, okay, well, who do I want to partner with? Um, you know, I called my coach from my mentorship group. I say, Hey, this is what I’m thinking of asking for my coach. He said, that’s perfect. He actually has another property, like within two or three miles of your property. So, and I didn’t even, I didn’t know that. And so I call him, uh, his name’s Raj, scooped out of Chicago. I never would have met him if I wasn’t part of this mentorship group. Right. I’m a guy in Dallas, he’s a guy in Chicago, but we met on a number of occasions and we hit it off and he’s a guy that’s been in the real estate world for a long time. So I called him. He said, yeah, let me take a look at it. I sent him the underwriting. He said, yeah, I know where it is. I liked it. I liked the deal. And um, so I, I bring his resume. Is experience and combined between the two of us now we’re, we’re much stronger by a GP by group. And, uh, so, so without him, I wouldn’t have, I wouldn’t have gotten the deal.
And, um, on top of that, you know, being a first-time asset manager and syndicator, what was very important to me was maximizing returns for the investors. I didn’t want to have a bunch of rookie mistakes, you know, that costs, you know, not just me, but the entire investment team, um, in having lower returns. So having Raj on my team is fantastic. He’s like my board of directors. So. Um, the major decisions I’ve kind of run the day to day, but all the major decisions I go to Raj and say, Hey, this is what I’m thinking of doing. You know, what are your thoughts? And a lot of times they’ll say run with it, but sometimes I’ll say, Hey, Darin, maybe we should think about this. And I’m like, oh, I didn’t think about that. And so then we like, you know, we changed the ship, you know, we changed direction just a little bit and, and took a little bit of different approach. And that comes from his wisdom, his experience for doing this. Um, so, you know, that’s where this whole team, uh, environment really, really is critical.
Bryan: [00:23:06] Yeah. That’s definitely a really strong, inspirational story. I mean, listen to that story, like, it’s very clear that you built your own momentum. You know, you started with little wins. Like you didn’t know exactly what exactly we were doing at the time, but you start with little wins anyway. And solely become more comfortable and you start getting momentum and you start to figure out what your strengths and weaknesses are and what you need to move forward.
You know, in your case, it’s like you’re lacking some experience. So you found an experienced partner and this partner comes with a lot of mentorships as well. Someone that you can rely on for you to protect the investor’s money and maximize the return, which is, which is a very similar story to myself as well. I mean, when I was, when I started putting offers on like no normal houses, a part of me deep down, inside hope I didn’t get the house in the beginning. Right?
Darin: [00:24:00] Yeah. You’re like, look, if I make a mistake on this size project, it’ll, it’ll bury me. Right. Exactly. It ruins your reputation. In this space and I’m sure in your space as well, you know, reputation is critical.
So definitely, you know, you know, it’s not about just how many deals you can do. It’s about actually delivering the returns that you reject. If you’re not able to do that, you have an investor for one time. They’re not going to reinvest with you. Of course, you always want people to reinvest back into your project.
And the only way you do that is to protect your word and their money. As soon as you lose one of those silver, they’re going to move on and top of that, and you can tell their group of friends not to invest with you, friends, family, coworkers. So, absolutely.
Bryan: [00:24:55] definitely. So that’s a great story. So for the next section of the podcast, I want to shift that over to, for our listeners to understand more about you. So usually for this section, I always ask. Hey, Darin, what keeps you motivated? What is your, why, what do you want to invest into real estate and especially some vacations?
Darin: [00:25:13] Yeah. Um, so one of the things I love about the syndication space is that, you know, we’ve talked about the team a lot, you know, uh, earlier. Um, but when I was in the corporate world, you know, and I was in sales or I was on the trading desk, it was all about how much money. Darren came here for me and my family. Um, and then when I started my own business, it was all the profits, you know, are I own the business, but with these syndications, I, what I think is so fantastic is that like, so this deal, we have 44 limited partners.
Bryan: [00:25:58] That’s a lot.
Darin: [00:26:00] And. And a number of them are from the multifamily group. And a number of them are from my personal network. And I love the fact that I can see that we’re like, we’ve already grown the net operating income by over 20% and in like eight months. But so I could see the valuation of the property going up. Mm. But it’s not just about me. Like I’m helping. All of these other people grow their wealth.
Bryan: [00:26:31] I like that.
Darin: [00:26:32] You know, I, I couldn’t have done it without them. Right. I couldn’t have bought the property without them, but what’s really cool is that it’s collectively, we’re all growing our wealth together. And, um, you know, it’s the first time.
Yeah, I’m 49 years old. I mean, this is the first time that I’ve been involved with a group investment where we all went together. And so, um, it’s just a nice feeling,
Bryan: [00:27:03] you know, it is. And I firmly believe in my own belief system. Is that if you help her, did you help enough people reach their goals?
You’ll reach your goal as well. Right. You know, Hey, I like that whole mentality that, you know, why can’t we all be wealthy, wealthy together? You know, we have the abundance mindset, certain point.
Darin: [00:27:22] I mean, so there’s a piece that he said, is that okay? I want to get to a certain point. And everybody’s number is different, right? Passive income. Monthly of X that gives me the freedom of time, freedom of money. Right.
But what, another thing that drives me is I always love to just want to be myself. Okay. So even I can see this business, you know, it’s not something I’m looking to do for three or four years and then make a certain nut and then I’m out like. It’s something that I can do when I’m in my seventies. You know what I mean? So it’s, it’s not, um, so it’s not an, I have to go to the office for nine to five types of job. It’s deal-specific and, and it’s flexible in terms of when you want to go visit the property. And when you want to review, you know, the asset management boards.
So. What drives me is okay. Now I do a 76 unit deal on our do hundred busting a deal, and I want to do 150 in it, and I want to do a 200 yard. Wow. 300 units. And at some point there’s enough money coming in, but it’s the game. It’s, it’s, it’s, it’s the, it’s the, you know, pushing your limit and, you know, NSF little. That fear, you know, is also adrenaline, right? I mean, can I do this? I think I can. I think I can’t, you know, and, and you’re determined to do it, but it’s something new versus if you just do the same thing over and over and over for me, I, I kind of lose some of that, um, excitement, you know? So the journey. It’s more exciting. One up yourself is what’s exciting to me.
Bryan: [00:29:29] It’s definitely, that’s, that’s a great source of motivation, you know, like he definitely emphasized that it’s, it’s only, you should be your only competition going forward. You know, there’s a lot of times where we can compare ourselves to our peers or friends or family, and I get it kind of gets us down.
But at the end of the day, like the competition, you should only, only, only have as against yourself. Which is very clear yourself. Like, it sounds like, you know what you want, you know, how to push yourself, you know, everything in the motivates and how you tick. So, yeah, that’s, that’s amazing. That’s amazing Darin.
Darin: [00:30:02] And you know, it’s just life experience, you know, when I’ve had, and I’m sure your listeners have it too, you know? When you surround yourself with likeminded people, people are telling you, you can do it, but everybody has their own other network of friends, their family. And they’re not always the most supportive. Right. So when I was in accounting and I was working for Pepsi and, and, and press Waterhouse, and I was going to go into salespeople like, you’re crazy. You know, what are you doing? And then I did and you know, each step further in my career. And also it was a new learning process, you know, so I like to make more money, but I also like to learn. So those two things are important to me. Um, it’s not just one. I like the combination of those two.
Bryan: [00:31:03] Definitely. I’m very much the same way as well. You know, like before I got into real estate, I was a software developer. In the San Francisco Bay area.
Darin: [00:31:13] and then you made a change to flipping.
Bryan: [00:31:15] Exactly. It’s not because I was curious about the money, cause I needed to learn something else because I want to continue growing, you know, it’s that growth mindset that I think we all share, but I think every person that comes into podcasts has, so how can I challenge myself decent, better, decent, bigger than myself, have a bigger impact, you know?
Darin: [00:31:35] yeah. No, it takes a lot of courage to start a podcast, you know it does, and to put yourself out there and, you know, go out and introduce yourself to new people and the fear of rejection, you know? Um, look, it, it took, you know, that took courage to start and then you had to learn, well, what’s involved with doing it. How do I do it? And then you made it happen. Yeah. You know, and now you’re meeting people, you know, all over the country and it’s fine if you’re doing that.
Bryan: [00:32:16] Awesome. Thank you so much. I mean, I was obviously kind of, you know, I have a lot of fears about rejection or whatnot, but I was listening to a Ted Ted talk recently, or a couple of months back, but a hundred days of rejection, whereas entrepreneur went upstairs and he was talking about.
Darin: [00:32:34] I saw it. I saw it. I found that. Yeah, it’s hilarious. So I, he, I actually saw him speak at a Christian conference. He was a speaker at a. I forget what it’s called the Christian leadership summit, but he was one of the speakers. He was hilarious. And some of those videos he has, or are really funny
Bryan: [00:32:58] Krispy Kreme donuts to build the Olympics, Olympic sign eating donuts.
Darin: [00:33:05] Yeah. I mean, he was trying to get people to say no, and some people would just say yes, they didn’t have it in them. They wanted to do everything they could to say, yes, Yeah, which also shows you that there are some good people out there.
Bryan: [00:33:22]Definitely. it’s also a pretty invaluable lesson too. You know? Like, it’s like, if you don’t ask, you don’t get, and that’s the way it works in life. You know, sometimes you just have to go out there and you just have to ask because the worst he gets to know and what you realize like that doesn’t really impact who you are, how your life is going to perform. But you know, every no that you get is closer to a yes.
And that’s what matters for entrepreneurial men. Like my mindset, you know,
Darin: [00:33:49] You’re right.
Bryan: [00:33:49] Yeah, definitely. Awesome. Now that we are approaching the end of the podcast, um, what kind of advice and tips do you have someone starting out in not just real estate syndication, but investing in general? Like how can they overcome their fears?
Darin: [00:34:06] Um, I’m gonna focus it towards real estate. So. My advice. I talked to a bunch of people, I talked to a lot of people that reached out to me on Instagram and, um, you know, a lot of them that the first step is one of two things. From my perspective, if you have the capital, you have the money, um, then I advise you to find a mentorship group.
Um, there’s, you know, a number of, you know, if you want to get into multifamily, there’s a number of multifamily mentorship groups. I mentioned the one I’m in, but there are also some other great ones. I’ve met some really great syndicators in other groups as well. Um, and the value to that is what I talked about earlier is that you get plugged into a network of like-minded people and you can leverage all of their experience. Um, so, so that’s huge. But then I also talked to some they’re like, Darren, I don’t have the capital. So I said, okay, well, if you don’t have the capital, then I would look up in your market. Um, and some, you know, most people know that the app meetup, but, but you know, a lot of people don’t, but I talked to the, like, I don’t, I don’t know that, uh, you know, my we’ll get the app on your phone. Yeah. And then put in John, put in just real estate, you know, if you’re interested in multifamily and put in apartment investing. Or multifamily investing and then try to find meetups that are just focused on multifamily. And then when you go there, you know, your goal is to meet as many of the syndicators as possible.
Okay. Your number one goal, um, exchanged business cards so that when they have deals, they’ll send them to you. And even if you don’t have money to invest, you can learn by looking at their emails. Good and getting on their webinar and, and seeing how they present the deal. Um, it’s very important for the learning process.
And then the second thing I advised them to do. If you meet at three, four, or five, seven theaters, you don’t have the time to spend a half-hour, 45 minutes with you at the meetup. So try to get that in, to meet with you at Starbucks, you know, later in the week one on one, and you know, your goal for that is you’re picking their brain, but you’re also trying to figure out, you know, Hey, would you, would there be an opportunity for us to work together? Definitely. Yeah. Cause they’re going to have to find somebody that has experienced partnering with you. You’re just not going to win a deal without experience guys, your partner. Definitely.
Bryan: [00:36:58] I agree. And also like, I want to add to that as well. I think what worked for me when I first began is sometimes it’s okay to go out to these meetup groups and admit that you don’t know anything. It’s perfectly fine. Cause some people at some point in their career actually like mentoring other people. And the fact that you, you go out there and you have a fresh perspective or a super excited, you’re super enthusiastic. Some people, some veteran investors really liked that mentality. And they’ll take you on as a mentee, you know? So don’t be afraid to admit to people that you don’t know anything. That’s okay. Everybody starts at the beginner at one stage at any point in their career.
Darin: [00:37:37]It’s a great, great, great point. And I happen to enjoy helping other people. And so I will talk to people and, you know, at the end I’m like this guy, most likely will never be an investor in all my deals, but if he ever gets a deal and comes back and lets me know, and I hadn’t had anything to do with that, that is fantastic. Like that. I get so much out of that. Like, not financially, but I said, you know, you want it to go somewhere. And I had so many people help me. So for me to give back and help others, you know, it’s, um, you know, it’s a pleasure. So definitely.
Bryan: [00:38:23] I agree with that statement, you know, like you never know.
Darin: [00:38:26] But there are people that are afraid like you said, I’m glad you told your listeners that because there are people that are afraid to say, I don’t know, I need help. You know?
Bryan: [00:38:38] Yeah. It’s not, it’s never, it’s never a bad thing to tell the truth. He likes what you don’t know. You don’t know, you just get better, you know? Right. Yeah, definitely. So I guess the last question on my podcast is what is your favorite book or podcast that you listened to that really inspired you?
Darin: [00:38:57] Holy cow, I’ve got so many books. I love, um, So, I mean, Rich Dad, Poor Dad was obviously, um, um, the game changer, the, uh, yeah, the Napoleon Hill. Uh,
yeah. And boy and fantastic. Um, the Darren Hardy book, I just recently read was fantastic.
Bryan: [00:39:27] What’s that is that the compound effect book?
Darin: [00:39:29] The compound effect. That was really good. Um, yeah. I have a morning routine where I, yeah, I simply wake up really early in the morning, like before anybody else. Um, I come to my office, I read one chapter of the Bible.
And then, um, and then I read a business book and I’m currently reading. Um, Tim Ferriss, not for the four-hour workweek, but he’s got like something of Titans tools at times. And when I got that book, man, looks like an encyclopedia and I set it aside. I was like, Oh my gosh, that thing, what you got there. Right. And, but I get myself a coffee. And he broke it out into three sections, um, like physical health, wealth, and, um, and wisdom. And so, but each person that he interviewed, it’s only like two or three pages of like their advice. It’s really fast. Yeah. Yeah. I told my wife, I said, you know, I’m looking forward to the three people I’m going to have, I’m going to have coffee this morning. She’s like, what do you mean? You know, Oh, you’re talking about your book again, because look, when you read those two or three pages, like you get in the mind. Definitely. You know, these people that have accomplished so much, and I feel privileged that I’m able to tap into that. Definitely. So anyway, there wasn’t one I talked to.
Bryan: [00:41:14] my suggestion of books here.
Darin: [00:41:17] Alright. Good.
Bryan: [00:41:17] Awesome. Hey Darin, how can our listeners find out more about you and reach you,
Darin: [00:41:22] uh, best way, uh, Instagram.@BatchelderDarin, which is, which is spelled B A T C H E L D E R and D A R I N. That’s probably the best way you can instant messages me on Instagram. Um, I’ve also got, uh, podcasts on there. Uh, and I also have an email address, your email, DBatchelder@TZKproperties.com.
Bryan: [00:41:58] Awesome. I’ll make sure to include those in the show notes as well.
Darin: [00:42:01] Absolutely. Thank you very much.
Bryan: [00:42:03] Awesome. Darin. Thank you for being on the show. Thank you for your time. I appreciate it.
Darin: [00:42:08] Hey, Bryan, I appreciate you having me on and if you’re ever in the Dallas area, please look me up and I’ll do the same
Bryan: [00:42:14] Awesome. Thank you.
Darin: [00:42:17] All right. Take care.