{"id":1163,"date":"2020-10-08T00:02:32","date_gmt":"2020-10-08T07:02:32","guid":{"rendered":"https:\/\/bonavestcapital.com\/podcast\/?p=1163"},"modified":"2020-10-08T09:04:29","modified_gmt":"2020-10-08T16:04:29","slug":"sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall","status":"publish","type":"post","link":"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/","title":{"rendered":"SA013 | Investor Relations and Asset Management During COVID-19 With Zach Haptonstall"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1163\" class=\"elementor elementor-1163\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-292ccb3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"292ccb3\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-307f24d1\" data-id=\"307f24d1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0a212e3 elementor-widget elementor-widget-heading\" data-id=\"0a212e3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">SA013 | Investor Relations and Asset Management During COVID-19 With Zach Haptonstall<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ffe13ee elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ffe13ee\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7eaef7d\" data-id=\"7eaef7d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a472c76 elementor-widget elementor-widget-html\" data-id=\"a472c76\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div id=\"buzzsprout-player-5796730\"><\/div>\r\n<script src=\"https:\/\/www.buzzsprout.com\/1368325\/5796730-sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall.js?container_id=buzzsprout-player-5796730&player=small\" type=\"text\/javascript\" charset=\"utf-8\"><\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-885b712 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"885b712\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f935bc0\" data-id=\"f935bc0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-900619c elementor-widget elementor-widget-html\" data-id=\"900619c\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\r\n\t<div id=\"podcast-subscribe-button-1033\" class=\"secondline-psb-radius-style secondline-psb-alignment-none\">\r\n\t\t\r\n\r\n<div class=\"secondline-psb-subscribe-icons\"><span class=\"secondline-psb-subscribe-iTunes\"><a title=\"iTunes\" onMouseOver=\"this.style.color=`#000000`; 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this.style.backgroundColor=`#ffffff`\" onMouseOut=\"this.style.color=`#1e73be`; this.style.backgroundColor=`#ffffff`\" style=\"color:`#1e73be`; background-color:`#ffffff\" class=\"button podcast-subscribe-button\" href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly9mZWVkcy5idXp6c3Byb3V0LmNvbS8xMzY4MzI1LnJzcw==\" target=\"_blank\"><img decoding=\"async\" class=\"secondline-psb-subscribe-img\" src=\"https:\/\/bonavestcapital.com\/podcast\/wp-content\/plugins\/podcast-subscribe-buttons\/assets\/img\/icons\/Google-Podcasts.png\" alt=\"Google Podcasts\"  \/><\/a><\/span><\/div>                                       \r\n\t\t\r\n\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b450702 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b450702\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-b6cec80\" data-id=\"b6cec80\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7dd376f elementor-widget elementor-widget-image\" data-id=\"7dd376f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/bonavestcapital.com\/podcast\/wp-content\/uploads\/2020\/10\/Headshot_Zach-Haptonstall-300x300.jpg\" class=\"attachment-medium size-medium wp-image-1165\" alt=\"\" srcset=\"https:\/\/bonavestcapital.com\/podcast\/wp-content\/uploads\/2020\/10\/Headshot_Zach-Haptonstall-300x300.jpg 300w, https:\/\/bonavestcapital.com\/podcast\/wp-content\/uploads\/2020\/10\/Headshot_Zach-Haptonstall-150x150.jpg 150w, https:\/\/bonavestcapital.com\/podcast\/wp-content\/uploads\/2020\/10\/Headshot_Zach-Haptonstall.jpg 500w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-022db59\" data-id=\"022db59\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ae2d8fa elementor-widget elementor-widget-heading\" data-id=\"ae2d8fa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Zach Haptonstall<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f00186b elementor-widget elementor-widget-text-editor\" data-id=\"f00186b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #666666; font-family: lato, 'Helvetic Neue', Arial, san-serif; font-size: 18px; font-style: normal;\"><b>Zach<\/b><\/span><span style=\"color: #666666; font-family: lato, 'Helvetic Neue', Arial, san-serif; font-size: 18px; font-style: normal; font-weight: 400;\"> is a founder and president of ZH multifamily and co founder of Rise48 equity. He is also an experienced multifamily apartment investor currently residing in Scottsdale Arizona, and is also a lead sponsor and equity owner of 420 units across five properties in Phoenix and Scottsdale worth over $48 million. Zach is also the founder and president of the Phoenix multifamily association, a Phoenix based organization that holds monthly speaking and networking events focusing on apartment investing. He is a former live television news anchor and sports reporter for Arizona PBS and co-hosted a show on Fox sports network, Arizona.\u00a0 He is also the former Co-Owner and Director of Business Development for Sage Hospice and Palliative Care in Scottsdale, Arizona.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33d8880 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33d8880\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fea6950\" data-id=\"fea6950\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c263d61 elementor-widget elementor-widget-heading\" data-id=\"c263d61\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Connect with Zach<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-79bf548 elementor-widget elementor-widget-text-editor\" data-id=\"79bf548\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #666666; font-family: lato, 'Helvetic Neue', Arial, san-serif; font-size: 18px; font-style: normal; font-weight: 400;\">Website:\u00a0<\/span><a style=\"color: #92c13c; font-family: lato, 'Helvetic Neue', Arial, san-serif; font-size: 18px; font-style: normal; font-weight: 400; background-color: #ffffff;\" href=\"http:\/\/zhmultifamily.com\/\" target=\"_blank\" rel=\"noopener\"><b>ZHmultifamily.com<\/b><\/a><br style=\"color: #666666; font-family: lato, 'Helvetic Neue', Arial, san-serif; font-size: 18px;\" \/><span style=\"color: #666666; font-family: lato, 'Helvetic Neue', Arial, san-serif; font-size: 18px; font-style: normal; font-weight: 400;\">Email him at:\u00a0<\/span><a style=\"color: #92c13c; font-family: lato, 'Helvetic Neue', Arial, san-serif; font-size: 18px; font-style: normal; font-weight: 400; background-color: #ffffff;\" href=\"mailto:%20ZACH@zhmultifamily.com\" target=\"_blank\" rel=\"noopener\"><b>ZACH@zhmultifamily.com<\/b><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-140f9af elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"140f9af\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a9d46cd\" data-id=\"a9d46cd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-780c7b8 elementor-widget elementor-widget-heading\" data-id=\"780c7b8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Transcript<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e657a9 elementor-widget elementor-widget-text-editor\" data-id=\"9e657a9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"MsoNormal\"><b><span style=\"color:#FA8A3B\">Aileen: <\/span><\/b>[00:00:00]\n<o:p><\/o:p><\/p><p class=\"MsoNormal\">Thank you, everyone for joining another episode of the, How\nDid They Do It? Real Estate podcast. We are your hosts, Seyla and Aileen and\ntoday&#8217;s guests. We have Zach Haptonstall. He is a founder and president of ZH\nmultifamily and co founder of Rise48 equity. He is also an experienced\nmultifamily apartment investor currently residing in Scottsdale Arizona, and is\nalso a lead sponsor and equity owner of 420 units across five properties in\nPhoenix and Scottsdale worth over $48 million. Zach is also the founder and\npresident of the Phoenix multifamily association, a Phoenix based organization\nthat holds monthly speaking and networking events focusing on apartment\ninvesting. He is a former live television news anchor and sports reporter for\nArizona PBS and co-hosted a show on Fox sports network, Arizona.&nbsp; He is also the former Co-Owner and Director\nof Business Development for Sage Hospice and Palliative Care in Scottsdale,\nArizona.&nbsp; Please welcome Zach Haptonstall.<o:p><\/o:p><\/p><p class=\"MsoNormal\">How are you doing Zach? <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:01:29]\nHey, thanks so much, Aileen. Thanks, Seyla. I&#8217;m doing great. Thanks for having\nme on. I really appreciate it. It&#8217;s an honor, and I&#8217;m sure we can provide some\nvalue for your listeners today. So thank you so much. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#FA8A3B\">Aileen: <\/span><\/b>[00:01:39]\nYeah, definitely. If you can take a few minutes, can you please tell our\nlisteners just a little bit more about your background and how you got started\nwith real estate?<o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:01:46] <o:p><\/o:p><\/p><p class=\"MsoNormal\">Yeah, so I was born and raised here in Phoenix on I pretty\nmuch lived here my entire life. I like to play sports growing up. I don&#8217;t\nreally have a real estate background. I didn&#8217;t have any family in real estate.\nI was completely new to it just a couple of years ago. I wanted to be a\nprofessional football player initially.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And so I had a football scholarship out of high school to a\nsmall division, two school in Colorado. And I realized that for a couple of\nyears, I wasn&#8217;t going to make it to the NFL. So I was like, you know what? I&#8217;m\npassionate about sports. I want to be a sports reporter and a journalist. So I\nwent and got a journalism degree.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And I was alive news anchor for a short time on Arizona PBS\nand doing sports packages and things like that. So that was really cool at\nfirst, you know, being on live television and the adrenaline and the\nexcitement, all that, but I just quickly realized it&#8217;s not what I wanted to do.\nYou know, just all the hours that you work and the politics, and you really\ndon&#8217;t make that much money.<o:p><\/o:p><\/p><p class=\"MsoNormal\">People would be surprised. And so I was like, man, here I\nam. I just graduated college. I have all this school debt. I don&#8217;t want to\npursue the industry that I just got the degree in. And I, I need to make money,\nyou know, to pay off this debt and Joe at least established some type of\nfinancial base. And so I had gotten school loans for the last couple of years.<o:p><\/o:p><\/p><p class=\"MsoNormal\">I had a bunch of student debt. I was working nights and\nweekends while I was going to school to pay for and like medical delivery. Like\nI was delivering medical equipment. And so through that job, after I graduated\nand after I realized I didn&#8217;t want to do journalism, I had an entry point into\nhealthcare marketing through hospice care. So for those of those listeners who\ndon&#8217;t understand what hospice is, it&#8217;s, it&#8217;s essentially like mobile nursing\nand caregiving for people who have like end of life illnesses, they&#8217;re living\nat their homes, assisted living, et cetera. And this is all free for them\nthrough their Medicare insurance.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So my job was just wake up in the morning, drive all around\nthe Phoenix. And build relationships with physicians and assisted livings\nhospitals, walk in cold and build these relationships and educate people and\nget them signed up on hospice when they needed that. So it sounds really\nstrange and completely different than real estate and completely different than\njournalism. I liked doing it at first and I was very blessed and fortunate to\ndo well at it. And it&#8217;s actually a very lucrative and competitive private\nbusiness industry. Okay. Hospice care. And Phoenix is the number one market in\nthe country, as far as the demand, because there&#8217;s so many seniors here.<o:p><\/o:p><\/p><p class=\"MsoNormal\">It&#8217;s sunny, the weather, things like that. So long story\nshort, I had come up from lower middle class income family, and all of a sudden\nI&#8217;m 22, 23. He making 150 K a year. You know, I&#8217;m making more money than both\nmy parents combined. So by the time I&#8217;m 24, I had paid off all my school that I\ngot my MBA. I went to night school, got my MBA, paid all that cash, bought a\nhouse and now.<o:p><\/o:p><\/p><p class=\"MsoNormal\">Fast forward. I did that for four years. Okay. So I did the\nhealthcare sales for four years. So by the end of that, I was making over 200 K\nI had become a director of marketing and then I, and then I call owner in this\nhospice company. So I was very blessed and I had a good financial base. But I\njust got to the point where I was burnt out, you know, and I didn&#8217;t feel\nchallenged.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And that&#8217;s why I had initially liked doing like sales\nbecause there&#8217;s really no ceiling. You can continue to escalate and escalate,\nbut I just got burnt down. I wasn&#8217;t passionate about, I&#8217;m passionate about it\nand being on call. So I was like, I don&#8217;t want to do this. I want to create\nfinancial freedom somehow.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And I didn&#8217;t know much about real estate. I had gotten my\nreal estate license. Two years prior to leaving my job, which I&#8217;ll get into\nhere shortly, but I never used, it was just a backup plan. So long story short,\nI just finally got sick of it. And in January of 2018, I resigned and I sold on\nthe equity that I had in the company.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And I said, screw it. I&#8217;m done. I&#8217;m going to figure out how\nto create passive income or financial freedom. Somehow through real estate. And\nI had no plan. I don&#8217;t know. I wasn&#8217;t even focused on apartments or\nmultifamily. I didn&#8217;t even know what the word syndication meant. Never heard of\nit before. I was just like, I want to use real estate somehow.<o:p><\/o:p><\/p><p class=\"MsoNormal\">I had enough savings to last me a little over a year, and I\ndecided that I&#8217;ll live off savings this year and just figure it out. Okay. So I\ninitially was looking at. I&#8217;m like flipping houses. And then I realized that\nthat&#8217;s not going to be my goal. That&#8217;s transactional mindset, kind of like what\nI was doing anyway, before chasing commissions, you know, and having a salary.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And then I learned about mobile home parks and I really\nliked mobile home parks, but I realized if I wanted to buy or sell or carry, I\nwould have put all my money into that. And I can&#8217;t scale. I&#8217;m done then. That&#8217;s\nit. And then I learned about syndication, you know, and leveraging other\ninvestor&#8217;s money and being a good steward of that money to invest in larger\nproperties.<o:p><\/o:p><\/p><p class=\"MsoNormal\">I learned about multi-families so long story short, I\nsettled on multifamily and I decided I needed to do that. And I lived off\nsavings for really a little over 14 months. And after 14 months finally closed\nthe first apartment deal. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#FA8A3B\">Aileen: <\/span><\/b>[00:06:23]\nWow, you really took a leap of faith. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:06:26] I\nknow what a crazy guy, right? <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#FA8A3B\">Aileen: <\/span><\/b>[00:06:28]\nNo, but it seems like it all worked out for you in the end.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So congratulations. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:06:33]\nYeah. No, thank you. Yeah. I was blessed in it and it&#8217;s tough. There&#8217;s a lot of\nadversity and you don&#8217;t have to do that to get into multifamily. It&#8217;s a radical\nexample and it&#8217;s not absolutely necessary. But for me, I felt like I was able\nto collapse a timeframe and, and accelerate the path because I was all in and\nsolely focused on that.<o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#00D1B2\">Seyla: <\/span><\/b>[00:06:52] That\nwas a really impressive background. Could you please let us know, how did you\nget the brokers and the property managers to take you seriously, especially on\nyour very first deal? <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:07:03]\nYeah, that&#8217;s one of the things, so here I am like, and just in just to\nlisteners know, cause I know a lot of listeners, they listen to these podcasts\nand they hear somebody who they think is an expert.<o:p><\/o:p><\/p><p class=\"MsoNormal\">I&#8217;m not an expert, I&#8217;m a regular guy, like any of you. And\nthey think I&#8217;m nervous. I&#8217;m not going to reach out to brokers or this or that.\nAnd they feel intimidated. I don&#8217;t want to read. No, I was extremely\nintimidated and it had a lot of anxiety and I, by nature, growing up, even\nthrough high school and in college was more of an introverted person.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And so doing the journalism thing really was extremely scary\nfor me being on TV. And I pushed my comfort zone and then going into marketing,\nI was pushing my comfort zone. So if you feel like you&#8217;re not an outgoing\nperson or you&#8217;re not good at building relationships, That&#8217;s all in your mind.\nOkay. And that&#8217;s your identity that you&#8217;ve created for yourself because you\nhaven&#8217;t pushed your comfort zone to expand and take those actions.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And so to answer your question more directly Seyla I was\nterrified because I was like, I was the man, so to speak, I thought, I thought\nI was really prolific in healthcare, but now in a complete different industry\nwith large buildings, large numbers, I don&#8217;t have any rich family. I don&#8217;t have\nany rich network really.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And I felt like I didn&#8217;t belong, you know? And I didn&#8217;t know\nany brokers, I didn&#8217;t know any lenders. So I initially just wanted to become\nfamiliar with all of the language and the industry related jargon, you know, of\nmultifamily real estate. So I was reading the books, listen to podcasts like\nyours, trying to consume all this.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And then it gets to the point where you&#8217;re like, okay, I\nneed to actually be meeting with people, building relationships, taking action.\nSo what I did is I originally started out. I wrote a book by Ken McElroy. A lot\nof people have heard of it ABC&#8217;s of property management. And in that book, he\nrecommends that when you&#8217;re trying to find a property management company, you\ngo to&nbsp; dot org and you can find.<o:p><\/o:p><\/p><p class=\"MsoNormal\">Like what&#8217;s called an AMO or an accredited management\norganization, meaning that it&#8217;s been accredited. So it&#8217;s a legitimate property\nmanagement company. So I went on that website and I saw, I need to find a\nproperty management company if I&#8217;m serious about doing this. So I went on the\nwebsite, I found five local ones in Phoenix, and I reached out to the\nrepresentatives, whether it was director of marketing the owner.<o:p><\/o:p><\/p><p class=\"MsoNormal\">In some cases I set up five meetings. Okay. And after reading\nthat book and a couple other property management books and podcasts, I created\nfive pages of my own questions. On property management on accounting processes,\noperating all these different things, which was probably overkill at the time.\nBut I made myself seem like I was smart.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So they helped me give me confidence. I go property\nmanagement meetings and I wear a suit to check I&#8217;m young. I&#8217;m always insecure.\nI wasn&#8217;t secure about not being perceived as credible, you know, cause you&#8217;re\nyoung and it&#8217;s a, it&#8217;s an intimidating industry. So I go, I go into the\nmeetings with my list of questions and I start to vet these companies and I\nsay, Hey, I&#8217;m Zach.<o:p><\/o:p><\/p><p class=\"MsoNormal\">I come from healthcare. I have a network of physicians,\nhealthcare, business owners. And I don&#8217;t ever condone lying by any means, but\nyou need to be confident and you need to make yourself sound credible. So if\nyou have some type of network, if you&#8217;re an engineer or an attorney or a.\nWhatever, just try to flaunt that network and say, I&#8217;ve got this network of professionals\nwho are interested in investing.<o:p><\/o:p><\/p><p class=\"MsoNormal\">I&#8217;m going to raise this capital. And so asking the property\nmanager companies and all these questions, they seem to take me serious. Yeah.\nI was really nervous, but each success of meeting, I get more and more confident\nstarts to learn the language and feel more comfortable. And you realize these\nare just people, just like anybody else, you know?<o:p><\/o:p><\/p><p class=\"MsoNormal\">And so at the end of that meeting, I asked them, I said,\nHey, For somebody starting out like me, do you have any recommendations for\nbrokers who are like, nice guys, we&#8217;re not going to just intimidate me or\nwhatever. You know what I mean? Do you have any relationships for brokers,\nlenders, attorneys, insurance guys.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And I asked every single property management company that,\nand they all gave me recommendations. Okay. So then what do I do? I called the\nbroker and I say, Hey, I got your, your name and number from that property\nmanagement company. My name is Zach. This is what we&#8217;re looking for. Can we set\nup a meeting? And I started setting up meetings with brokers.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And the brokers were even scarier to me with. And the\nproperty managers, because the property managers essentially work for you.\nWhereas the brokers, it&#8217;s almost in a sellers market, like we&#8217;re in, it&#8217;s\nflipped. Like you&#8217;re trying to appeal the broker, prove that you&#8217;re credible\nand worth their time. And so the first couple of broker meetings, I was super\nnervous.<o:p><\/o:p><\/p><p class=\"MsoNormal\">I probably sound like an idiot. I know what I was talking\nabout. And the biggest thing to know is you need to go into these meetings,\nbrokers, and you need to have just like general criteria of what you&#8217;re looking\nfor, because that will create credibility in their mind. And so you need to\nsell them, I&#8217;m looking for value, add B and C class assets, one to $2 million.<o:p><\/o:p><\/p><p class=\"MsoNormal\">Okay. With the value, add potential in these areas. You know\nwhat I mean? Say something like that. So they know, okay, this person is\nserious. They at least have a criteria because if you go in there and you never\ndone a deal. And you&#8217;re like, I&#8217;m looking for one to $20 million. Okay. I&#8217;m\nlooking for a 10 unit to a hundred units.<o:p><\/o:p><\/p><p class=\"MsoNormal\">They&#8217;re less likely to take you seriously. And, and you&#8217;ll\nhave, and you&#8217;ll start to understand that different brokers specialize in\ndifferent sizes, different types of asset classes. So there&#8217;s several\nbrokerages. They&#8217;ve got guys that do below 100 units and guys that do above\nthem or units. And you need to know who you&#8217;re speaking to because I went into\none broker meeting.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And, and I, at first I was trying to act like I&#8217;m going to\ndo a 200 unit deal, my first deal. And they don&#8217;t really take you seriously,\nwhich they shouldn&#8217;t. And if you haven&#8217;t done it, but who knows, maybe you can\ntake it down. But I went into it and I learned after a little bit, I need to\nfocus on smaller deals.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So I went into one meeting and I said, I&#8217;m looking for 50\nunits and below. And the guy was immediately like, Oh, I only do a hundred\nunits and up, you need to speak to in our organization. And that meeting was\nover. You know what I mean? Can you refer me to them? So you just need to, you\nneed to, you just need to start cold calling these professionals.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And the other thing with brokers is that you don&#8217;t\nnecessarily need to meet with them in their office or at a coffee shop. What\nyou should do is you need to go to the websites, find the brokerage websites,\nCBRA Marcus, and Millichap, Arcadia, NorthMarq. There&#8217;s all these large\nnational brokerages go to their website and subscribe to their listings.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And you&#8217;re going to start getting their listings just\nemailed to you. Okay. And then reach out to these brokers, call them or email\nthem and say, Hey, so I saw your listing. I\u2019d like to tour it. When I first\nstarted, I was terrified to tour these properties because I felt like I was\nwasting the broker&#8217;s time and bothering them.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And you can&#8217;t think like that you have to realize that the\nbrokers, the majority of them want to tour the properties because it shows\ntheir sellers are getting a lot of activity. So, this is a good opportunity to\nmeet brokers is just set up on these assets. I still, today they will set up\ntours on properties that I know I have no interest in buying just so I can meet\nthe broker and I&#8217;ll go in there and take pictures and take notes.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And I&#8217;ll even ask hypothetical questions to the broker that\nI may already know the answer to about the property. Just to demonstrate that I\nunderstand how this works. So you&#8217;re just trying to demonstrate credibility and\nbuild a relationship, things like that, and then get back to them in a few days,\nif you&#8217;re not going to, if it doesn&#8217;t work and just say, Hey, thanks so much,\nthis deal&#8217;s not going to work for us because of this and this.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And at least you give them feedback. So that&#8217;s the thing is\njust setting meetings. Set up tours and that&#8217;s the best way to start to\ncultivate these relationships and, and really people overthink it. You just\nneed to start, you need to generate deal flow. And honestly, the easiest way to\ndo it is sign up on all their websites and you&#8217;re going to get the deals\nautomatically sent to you.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And then you click link, you sign up electronic\nconfidentiality agreement. It&#8217;s a formality, it&#8217;s not a big deal. And they&#8217;ll\nsend you the financials and the offering memorandum. So you can start to\nanalyze the deal. That&#8217;s the biggest thing to start. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#00D1B2\">Seyla: <\/span><\/b>[00:14:23]\nWow. That&#8217;s really impressive. And a very great strategy that you share with\nall our listeners.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So fast forward as today as an owner of 420 units, that\u2019s\nreally impressive in such a short amount of time, how have you changed your\nstrategy when managing your assets and investors relations during the COVID-19,\nespecially now? <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:14:42]\nYeah, that&#8217;s a great question, Seyla. So we actually were closing a deal and that\u2019s\nright when COVID-19 started.<o:p><\/o:p><\/p><p class=\"MsoNormal\">We were scheduled to close, like the second or third week of\nMarch. And we had to extend to the end of March, just because COVID had shut\ndown some of the offices that we were waiting on reports for, et cetera. But\nwhen COVID hit, we immediately told all of our investors that we are postponing\nall distributions, because if people can remember, I think here in Phoenix, the\nlocal economy shutdown on March 16th.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So by the end of March, it was like, Full-scale pandemonium\nright. On a national level. Everybody&#8217;s like freaking out from an economic\nperspective. So we told all of our investors, we&#8217;re going to postpone all\ndistributions and we&#8217;re also gonna stop all renovations. Okay. So for March,\nApril, may, and even really June, we didn&#8217;t do any renovations.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And we basically just, we told our investors, Hey, we&#8217;re\nfocusing on maintaining our liquidity in the property. Okay. So the cares act\nwent into effect at the end of March, which basically has a lot of different\nrequirements for federally backed loans and all our five assets all here in\nPhoenix, Mesa and Scottsdale, respectively are all Freddie Mac loans.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So they&#8217;re federally backed. And so they&#8217;re required to adhere\nto this, these requirements within the cares act. And some of the big ones it\nwas on that is that you cannot evict them tenant for nonpayment. Okay. And you\ngotta remember the cares act started the end of March through the end of July.\nSo here we are, like the end of March.<o:p><\/o:p><\/p><p class=\"MsoNormal\">Okay. We have these four assets already, which have all been\nperforming really well. And now we just acquired a new one. Now we can&#8217;t evict\na tenant. If they&#8217;re not paying you also cannot charge late fees, period. Okay.\nAnd you can deny a tenant, the right to renew a lease if they would like to.\nAnd so we, we were concerned and we weren&#8217;t sure.<o:p><\/o:p><\/p><p class=\"MsoNormal\">How our tenants would, would be affected by their jobs,\nthings like that. So we immediately renovations. We told investors, we&#8217;re\npostponing distributions. Obviously we stopped all property tours and we\ntransitioned over to virtual tours. And then after a month or two, we\ntransitioned into like a self tour, meaning that a prospective tenant could\ncome and pick up the key and then they could just open the unit and go tour it\nthemselves. So there was no exposure between our onsite managers. So we still,\nwell, we really had to, we really micromanaged the management company. We were\non top of them every day, harassing them really, because we want to make sure\nthey stay on top of these assets because we have investor money.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So we told every single onsite manager, you need to send us\na daily report on collections daily. So at the end of every day, They had to\nsend out, even if it was like the second day of the month. And a lot of these\nrents come in by the mid, sometimes third or fourth week of the month, which is\njust part of C class tenants at that demographic.<o:p><\/o:p><\/p><p class=\"MsoNormal\">We told them every day we want a collections report. So they\nhave to maintain a spreadsheet with every single unit who paid, who didn&#8217;t pay.\nAnd the first week we&#8217;re pretty lenient. But after that first week, we&#8217;re like,\nokay, Why did this one not pay, why didn&#8217;t, this will not pay and we&#8217;re on top\nof our manager and they need to be communicating with that tenant to figure out\nwhy they haven&#8217;t paid.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And if it&#8217;s because they were affected by COVID. We were\nhaving our onsite manager, provide all of these tenants with local and federal\nresources. So if somebody had been laid off or for load, we would literally\nhelp them apply for unemployment. Cause if they didn&#8217;t know how to do it, you\nknow, or if there was like local resources here in Phoenix and on top of it,\nand we really were emphasizing communication with tenants.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So we want to work with them. And if they&#8217;re communicating\nwith us and saying, Hey, my rent is going to be a week or two late because of\nthis, we&#8217;re totally found out. At least they&#8217;re communicating, it&#8217;s more the\nones who are going silent on us that we&#8217;re concerned about, but are all of our\nonsite managers knew we were taking this extremely seriously.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And so we were on top of them. And then we had our normal\nweekly meeting with our management company, which we normally did. And we were\nalways going over collections and follow up things like that. And so. Honestly\nout of 420 units, we only had probably 10, 10 or 15 or less tenants who were\nactually affected by COVID.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So we had very few tenants who were laid off for load or\nfired, and the ones that we, that were, we tried to help them with unemployment\nand things like that. So at that time, It was like everybody in Phoenix and\nacross the nation, landlords were waiting like, when is this residual effect\ngoing to hit?<o:p><\/o:p><\/p><p class=\"MsoNormal\">Because at first it was like, let&#8217;s see how April\ncollections go. April was strong let&#8217;s while the real hits going to be in may,\nmay was strong. And then people were like, the stimulus checks are coming out\nin may. And. And so June is going to be tough, June the strong, and then July\nis like, okay, by July the stimulus that has to have run out.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And this is where I see the effect. July was really strong,\nyou know? So in Phoenix, anyway, I can&#8217;t speak from a national perspective, but\nI&#8217;ve seen data that has been strong. Phoenix has been extremely strong. So I\nthink pre COVID are our average collections across five assets. And there&#8217;s one\nproperty that kind of brought this down.<o:p><\/o:p><\/p><p class=\"MsoNormal\">More than the others, but our average collections pre COVID\nwas like 97 to 99%. And during COVID, it&#8217;s been like 96 to 97%. So about one to\n2% collections have gone down during COVID, which is not significant for us.\nAnd that&#8217;s even while we could not evict. For tenants who are not paying, we\ncould not charge late fees.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So one thing we did say is, Hey tenant, we will, we will\nhelp you out. However we can with these resources, but you need to understand\nthis rent is still due. Cause they&#8217;re still, they still have a lease in place\nand they have to do it. So. That was just the biggest thing was emphasizing\nthat with our onsite management and letting the tenants know.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And unfortunately we had very strong performance during\nCOVID I&#8217;m an investor relations perspective. We typically do one monthly\nreport, which comes out at the end of the month and it&#8217;s for the previous\nmonth. Okay. So like at the end of August here, we&#8217;ll send out the July report.\nWhat we decided to do was start to send out two reports each month for the\nsecond week of the month.<o:p><\/o:p><\/p><p class=\"MsoNormal\">Like the second week of August, for example, We send out,\num, a collections update. And so we say, Hey, mr. Investor. So far, we have X\namount collected for August this first two weeks. At this point last month we\nhad X amount collected to compare so that investors can see. And then we ran\nstress tests on all of our assets.<o:p><\/o:p><\/p><p class=\"MsoNormal\">Okay. So we assumed that when this first started,\ncollections were going to drop significantly and we wanted to show investors\nthat, Hey, we have enough capital cap, X reserves are enough reserves in place.\nTo absorb the costs of operating expenses and debt service for X amount of\nmonths, assuming 50% of people pay 0% of people pay.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So we would just want to show our investors that we&#8217;re,\nwe&#8217;re preparing and we&#8217;re trying to maintain the quiddity. Unfortunately, we\nactually did not miss any distributions. So by the time middle of end of June\ncame and then July, we said, you know what, we&#8217;re going to do our distributions\nas we would have normally.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So we didn&#8217;t miss any distributions across all five assets,\nincluding the one that we had just closed a few months prior, we hit our post\nthree month acquisition distribution on schedule. And so we&#8217;ve been lucky that\nin Phoenix, the fundamentals are really strong with the population growth and\nthe job growth, but those are some of the things that we did a adjuster and\nCOVID.<o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#FA8A3B\">Aileen: <\/span><\/b>[00:22:04]\nIt seems like a lot of it had to do with the communications, the open\ncommunications that you had between your tenants and then also to your\ninvestors. And that just continued to build on that trust and relationship that\nyou had between both sides. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:22:16] Yep.\nA hundred percent. That was really the key. And they appreciate it too.<o:p><\/o:p><\/p><p class=\"MsoNormal\">I mean, it&#8217;s, it&#8217;s little things like showing you care,\ngiving them the resources we bought. We purchased a bunch of masks, like\nsurgical masks and gave them to all our tenants at every property we&#8217;ve\npurchased hand sanitizer and gave that to them. So it&#8217;s these little things to\nshow them like, Hey, we&#8217;re here to support you, but also holding them\naccountable at the same time and saying the rent is still due and how can we\nhelp? <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#FA8A3B\">Aileen: <\/span><\/b>[00:22:39]\nThat&#8217;s great. Would you be able to share some more of the best practices that\nyou&#8217;ve used to stay successful during this time? <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:22:45]\nYeah, I think you said it really well. I need you to just, the communication is\nhuge communication with investors and in like end of March, April, I had\nseveral investors reaching out, like, Hey, what do you think?<o:p><\/o:p><\/p><p class=\"MsoNormal\">Like, how how&#8217;s the deals going? How are the deals going to\ndo? And we just tell them, like, we honestly don&#8217;t know, like we&#8217;re going to\nstop renovations and we&#8217;re going to try to weather the storm. And see how it\ngoes. And then after April, we really didn&#8217;t hear from investors, you know? And\nthen I think it&#8217;s because we did a good job with our email updates or we show\nthem the numbers we show, we have like several paragraphs explaining what we&#8217;re\ndoing and how things are going.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So I think communication with investors. With your staff and\nwith the tenants is really important. And it&#8217;s just watching the assets\nclosely, you know, and watching the market indicators, things like that. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#00D1B2\">Seyla: <\/span><\/b>[00:23:31]\nWhat is your next focus from here? <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:23:34] Good\nquestion. I mean, we, we really were not an acquisition.<o:p><\/o:p><\/p><p class=\"MsoNormal\">We were not looking at new acquisitions. We actually had to\nback out of the deal. We had been awarded a deal, the middle of. March and then\ncovert hit and our loan proceeds were crazy all over the place. And we&#8217;re like,\nwe can not do a deal right now. So we had that. We didn&#8217;t go under contract.\nFortunately, we were under an access agreement.<o:p><\/o:p><\/p><p class=\"MsoNormal\">We were awarded it. So we I&#8217;d call the broker said, Hey, I&#8217;m\nso sorry. We have to back out, which we&#8217;ve never done. And then they understood\nbecause everything was going crazy. So like March. April may and probably the\nfirst part of June, we weren&#8217;t looking at new deals really, but probably middle\nof June or so.<o:p><\/o:p><\/p><p class=\"MsoNormal\">We started to look at new deals and start underwriting\nbecause we were starting to see collections were strong in may. Leasing traffic\nreally picked up on a new lease, which we&#8217;re picking up at our properties. And\nso we were back on the prowl. However, we&#8217;ve adjusted our underwriting where\nwe&#8217;ve been assuming 0% rent growth in year one.<o:p><\/o:p><\/p><p class=\"MsoNormal\">For all new acquisitions and the reason for that it&#8217;s\nbecause of COVID just to be super conservative. And so here in Phoenix,\nanyways, the last two years, it&#8217;s been over 8% year over year rent growth last\ntwo consecutive years. So pre COVID, we were underwriting year one, rent growth\ngrowth. That&#8217;s 4% of what it was actually at.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And then 3% every year thereafter for stabilized organic\ngrowth. Now we cut that down from 4%, since 0% to be extra conservative. We&#8217;ve\nalso adjusted some of our. Our underwriting returns for investors. Whereas\nbefore we were doing a preferred cash on cash return and we&#8217;ve shifted to a\npreferred IRR return and an IRR can get complicated.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So I don&#8217;t want to confuse people, but essentially what it\nmeans is that we, the sponsors, we do not participate in any of the cash flow\ndistributions during the whole of the property at all, because we have to, we\ndon&#8217;t get our cut or our split. Until we achieved the IRR return of the\ninvestor in you cannot achieve that by definition will be IRR.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And so all of their initial capital. Is returned to them,\nwhich is only going to happen on like the capital event, like a refinance or a\nsale. So we did that so that our investors would be more insulated where\nthey&#8217;re like, okay, the sponsors don&#8217;t get paid any cash flow during the whole\nof the property, we just get paid on the front end.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And then we get paid on the backend when it&#8217;s sold. So we\nhave to perform, whereas with the preferred cash on cash, if the eight, if it\ngoes over 8% in one year, everything over 8% goes to the sponsor. So. We&#8217;ve\nadjusted that underwriting criteria. And, um, we&#8217;re actually very bullish right\nnow, as a, as of the time of this recording, you know, third week of August,\n2020, we&#8217;re extremely bullish.<o:p><\/o:p><\/p><p class=\"MsoNormal\">We have a deal under contract. Now it&#8217;s a little over a\nhundred units and, um, we&#8217;ve got that under contract probably four or five\nweeks ago, we&#8217;re closing next month. So we&#8217;re excited about that. That was an\noff market deal. We just, we barely lost the big deal yesterday. We lost it by\na sliver. So we&#8217;ve been making offers or making an offer in a couple of weeks\non a deal.<o:p><\/o:p><\/p><p class=\"MsoNormal\">So right now we&#8217;re very bullish on the Phoenix market and\nthat&#8217;s someplace we&#8217;re looking to do new acquisitions. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#00D1B2\">Seyla: <\/span><\/b>[00:26:37] What\na great strategy. It will be very, very conservative, especially doing the\nCOVID-19 pandemic time right now, and congratulation on the new deal that you\njust got. And what is one thing that set those successful people are poet in\nthe real estate business.<o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:26:48]\nYeah. Good question. I mean, there&#8217;s, there&#8217;s so many things, pause. A lot of\npeople say you can&#8217;t do everything on your own, you know? So I think that if\nyou can. Identify one or two things that you do really well. And then you, you\ncan have the courage to reach out to other people. I personally hate networking\nand I don&#8217;t like it.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And I don&#8217;t think most, I think most people don&#8217;t like it. I\nthink it makes people feel uncomfortable, but these are the things you have to\ndo, especially when you&#8217;re starting out, trying to find. Partners who have\ncomplimentary skill sets. So I think in order to be successful, there&#8217;s so many\nthings, but you have to first learn the fundamentals, which is not extremely\ndifficult, work on a high level, and then you need to identify, okay, what is\nmy goal?<o:p><\/o:p><\/p><p class=\"MsoNormal\">Because in real estate is so easy, you get distracted. And\nthat&#8217;s what I was doing. Get distracted by like shiny object syndrome. I gonna\ndo mobile home parks. I&#8217;m gonna do this. I&#8217;ll do that. Self storage, you know,\nfocus on what you want to do. So if it&#8217;s multifamily. What type of multifamily,\nlike new development, value add, what&#8217;s your price range?<o:p><\/o:p><\/p><p class=\"MsoNormal\">What&#8217;s your number of units, which property management\ncompany is going to specialize in that size. You know what I mean? And how are\nyou going to structure the deal? You just need to have more focus and you need\na pound that focus. And so you get there and then it&#8217;s just, it&#8217;s like a catch\n22. Cause you have to be relentless with relentlessly attacking and trying to\nachieve your goal, but you also have to be patient.<o:p><\/o:p><\/p><p class=\"MsoNormal\">Then you can&#8217;t expect stuff to happen very quickly because\nit just doesn&#8217;t, it&#8217;s the nature of it. You know, like yesterday this deal we\nlost was like a dagger in my heart. It was like the one deal, like my entire\njourney, this deal, I was most disappointed that we lost. We had worked so hard\nand it was going to be the biggest thing we&#8217;ve ever done.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And we thought we won it. We thought we had it. And I don&#8217;t\nknow where we didn&#8217;t get it installed. It&#8217;s just, there&#8217;s going to be days\nwhere you face a lot of adversity and you feel like I wasted all this time, but\nyou have to realize that you&#8217;re growing. You know, throughout that process and\nyou have to continue to learn and just keep pushing forward.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And it&#8217;s like a battle of attrition really. It&#8217;s like,\nwhoever wants to not give up first, if you don&#8217;t quit and you keep pushing\nforward, you will eventually achieve success. No matter what you do compare\nyourself to other people you don&#8217;t need to say, Oh, this guy. Got X amount of\nunits in this time. And this guy is this age and I&#8217;m older or younger than him\nor her.<o:p><\/o:p><\/p><p class=\"MsoNormal\">You don&#8217;t need to do that. You just need to focus on what your\ngoal is and continue to push forward. And, and you&#8217;ll start to get over some of\nthese hurdles and then you&#8217;ll start to see exponential growth. So, I mean,\nthat&#8217;s, that would be my advice. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#00D1B2\">Seyla: <\/span><\/b>[00:29:08]\nGreat advice. What has been the highlight of your real estate career?<o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:29:12] Yeah,\nI think, I think just getting the first deal probably was the most exciting. It\nwas more of a relief for me than even excitement because it was like getting a\nmonkey off my back. You know, cause it&#8217;s like you go through all the adversity\nand you tell people you&#8217;re a real estate investor, even though you don&#8217;t own\nany real estate.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And I had no other job, so I had no identity. So when I\nfinally got a deal, it was more of, it wasn&#8217;t even, I was excited, but it was\nmore of like relief. Okay. Finally, I achieved this and now let&#8217;s go, let&#8217;s\nstart to scale up and actually get wrong because now I&#8217;m in the game. So to\nspeak. Cause there&#8217;s a big difference between somebody who has a deal on\nsomebody who doesn&#8217;t have a deal.<o:p><\/o:p><\/p><p class=\"MsoNormal\">And after you get the first deal, It really does get easier.\nLike people say, because you&#8217;re getting the confidence, you gain some\ncredibility and if you can keep going from there and ride that momentum. <o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#FA8A3B\">Aileen: <\/span><\/b>[00:29:55]\nThank you so much. And if our listeners wanted to find out a little bit more\nabout you, where can they go?<o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:30:00]\nYeah. Thank you so much, Aileen. I appreciate the opportunity. If you can just\ngo to our website, it&#8217;s a ZHmultifamily.com, no hyphens or anything, and\nthere&#8217;s a contact us sheet. So just fill that out. Your info and we can set up\na phone call. You can go to my LinkedIn, Zach Haptonstall I know it&#8217;s a long\nname and set up a call to my Calendly link. You can email me ZACH@zhmultifamily.com.\nAnd I&#8217;m happy to get on call with anybody just if it&#8217;s to help with like provide\nadvice, anything that I can do, don&#8217;t hesitate to reach out.<o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#FA8A3B\">Aileen: <\/span><\/b>[00:30:32]\nAwesome. Thank you so much, Zach. I&#8217;m sure everybody will appreciate that.<o:p><\/o:p><\/p><p class=\"MsoNormal\"><b><span style=\"color:#DE2898\">Zach: <\/span><\/b>[00:30:34]\nOf course. Thank you so much, Aileen and Seyla. I appreciate the opportunity to\nbe on the show and we&#8217;ll talk soon.<o:p><\/o:p><\/p><p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n<\/p><p class=\"MsoNormal\"><b><span style=\"color:#00D1B2\">Seyla: <\/span><\/b>[00:30:41]\nThank you. Thank you.&nbsp;<o:p><\/o:p><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>SA013 | Investor Relations and Asset Management During COVID-19 With Zach Haptonstall Zach Haptonstall Zach is a founder and president of ZH multifamily and co founder of Rise48 equity. He is also an experienced multifamily apartment investor currently residing in Scottsdale Arizona, and is also a lead sponsor and equity owner of 420 units across [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SA013 | Investor Relations and Asset Management During COVID-19 With Zach Haptonstall - Bonavest Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SA013 | Investor Relations and Asset Management During COVID-19 With Zach Haptonstall - Bonavest Capital\" \/>\n<meta property=\"og:description\" content=\"SA013 | Investor Relations and Asset Management During COVID-19 With Zach Haptonstall Zach Haptonstall Zach is a founder and president of ZH multifamily and co founder of Rise48 equity. He is also an experienced multifamily apartment investor currently residing in Scottsdale Arizona, and is also a lead sponsor and equity owner of 420 units across [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/\" \/>\n<meta property=\"og:site_name\" content=\"Bonavest Capital\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Bonavest-Capital-101715108369538\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-08T07:02:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-08T16:04:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bonavestcapital.com\/podcast\/wp-content\/uploads\/2020\/10\/Episode-Cover_Zach-Haptonstall-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"736\" \/>\n\t<meta property=\"og:image:height\" content=\"447\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bonavest Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bonavest Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"33 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/\"},\"author\":{\"name\":\"Bonavest Capital\",\"@id\":\"https:\/\/bonavestcapital.com\/podcast\/#\/schema\/person\/47dd28715b555dd7a4b11fe890089f6d\"},\"headline\":\"SA013 | Investor Relations and Asset Management During COVID-19 With Zach Haptonstall\",\"datePublished\":\"2020-10-08T07:02:32+00:00\",\"dateModified\":\"2020-10-08T16:04:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/\"},\"wordCount\":6872,\"publisher\":{\"@id\":\"https:\/\/bonavestcapital.com\/podcast\/#organization\"},\"image\":{\"@id\":\"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/bonavestcapital.com\/podcast\/wp-content\/uploads\/2020\/10\/Episode-Cover_Zach-Haptonstall-1.jpg\",\"articleSection\":[\"Podcast\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/\",\"url\":\"https:\/\/bonavestcapital.com\/podcast\/sa013-investor-relations-and-asset-management-during-covid-19-with-zach-haptonstall\/\",\"name\":\"SA013 | Investor Relations and Asset Management During COVID-19 With Zach Haptonstall - 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