How to Fast Track your Financial Success with Casey Quinn
As Co-Founder and CEO of CityLife Realty Group, a real estate investment company located in Pittsburgh, Pennsylvania, Casey Quinn is not your average real estate investor. In his chat with host Tim Herriage, shares the strategies and methods that fast-tracked his financial success in real estate investing. He emphasizes the value of having a team and highlights the importance of chasing happiness, whatever that may mean for each individual in the organization. Learn the basic principles and values that Casey instills in his approach and the culture he builds for his organization. There’s a lot to learn from Casey and his way of managing, investing, and planning for the future. Tune in to learn all about it.
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How to Fast Track your Financial Success with Casey Quinn
Welcome back to the show. Thank you so much for stopping by. I’m here with one of the most impressive people I’ve met in 2022, Casey Quinn. Casey, thanks for stopping by.
I’m looking forward to it.
The first thing up is the BLUF, the Bottom Line Up Front. A lot is changing in this market. You got up to two minutes. What are the most important things you see in the market? These are things you think people should be doing and things should be avoided at the most important part of the day.
What I’m paying attention to the most is what’s happening in the rates and how they affect me in my business and the local markets that I invest in. I’m from Pittsburgh, Pennsylvania and I invest in Pittsburgh. We’re a small-to-middle market. We’re not national. Therefore, how are the rates climbing impacting our business? We’re BRRRR model investors. These rates directly impact how we’re able to borrow on the refinance end of our investments. That directly affects our debt service coverage ratio and how we can get our money back out of our deals.
Number two, for home buyers, it’s affecting the local market and what they can pay. What is their purchasing power and how is that changing the markets and their ability to buy? In our market, locally in Pittsburgh, we have properties sitting on the market for months when before, the last couple of years, they haven’t been. What opportunities is that creating for us to go out and buy? There are negatives and positives to everything that’s going on. When the rates are climbing, how is that directly impacting your business?
Number two, what I’m paying the most attention to is what’s happening within my network. The people that I’m paying attention to, the people that I’m following and the education that I’m getting in this market, what are they saying? What are they doing? How am I then taking that information and applying it back to my business? Some of it could be good. Some of it could be bad. We have to be able to think through, fantastically process that information and apply it directly to what we’re doing.
As I look through the winter, values are still a very important part of the BRRRR model. You got to get an appraisal. There’s a loan-to-value on the back end. I won’t say, “If we,” because you and I talk about this all the time. Markets are different. If a market has another 5% slide and you were buying at $75,000 and you needed a refi at $75,000, you have to plan for that.
For our business, with the rates doing what they’re doing, the property values have not come down enough that the BRRRR model’s making sense for us. We still are paying a heavier price but with what we’re paying on a monthly basis, we can’t afford the back end to get out of those. We’ve had to shift our model. We were doing 10, 12 or 15 deals on a monthly basis in the BRRRR for the past couple of years. We’re averaging about one a month. It’s been a tremendous change in our business.
Let’s talk about your business. Why don’t you take a minute and tell everybody a little bit about yourself?
A few years ago, I was fired from my job. I had zero real estate experience at the time. I didn’t know what I was about to do in my future. I went into this real estate business and found my partner. We built a $70 million portfolio in the past couple of years. We didn’t start with any money so we had a BRRRR model. We are working with folks, like you, on the hard money front end, borrowing and understanding, “We’ve got to do whatever it takes.” It didn’t matter what the price of that was. We started a BRRRR model investment and built our portfolio. We built a $17 million-a-year revenue company off of that.
How many rental units is that?
It’s about 520 doors. It’s about 225 properties. That is our mixture. It’s about 160 single-family homes. At about a year and a half in, we realized we could BRRRR. We could value-add properties at the multifamily level, whether it be duplexes or triplexes. They’re not necessarily multifamily. We got into more of the commercial multifamily space. We have 5 up to our largest, which is 43.
There is less competition there ultimately in that mid-market.
It’s a lot cheaper. You come out here to Dallas or anywhere else and the prices are different.
The management of that many units with only four years of true experience has got to be super hard.
We certainly had our growing pains when it comes to its management of it. In my previous background in Corporate America, I wanted to take a business approach. To me, it was, “How do we create operational companies’ enterprise value off of the real estate that we’re buying?” With that, we took the approach on the management side. We were like, “Let’s run a management business that collects its fees from these properties.”
We ran that as a core business which I know how to do. I was in consulting in my previous life. I understood how to scale business. That’s the route we took. The details, which the devils are in, were certainly difficult. We were like, “What do we do here in certain situations when the toilet’s overflowing?” There were different things like that. We were like, “How do we manage it?” We struggled along the way but we were all about action.
You couldn’t have struggled that much if you got to over 504 years, I’m telling you that. What about construction? Do you manage all that internally? Do you use third-party vendors? I’m very interested in that.
We started similarly. Our idea and our philosophy are to keep every dollar we can in-house and create a culture that we’re building. We said, “Let’s also create a construction company. We’re going to be value-adding to all of these properties. Let’s do it ourselves.” We’ve created an in-house construction company that does some third-party construction work. We said, “We’ll be our own customer.” We have W-2 in-house guys as well as subcontractors that we use through a separate business that we run.
CityLife Realty Group is ownership of assets. It’s the management of assets for yourself and others. It’s construction for yourself and others. What are the other components of the group?
We’ve rolled out a wholesaling business on that end. We are always so focused on buying for ourselves. With the market change, we realize, “We have built such a lead generation machine. Let’s not let that go to waste because we can’t BRRRR model these deals. Let’s start selling that.” We’ve created Citylife Home Buyers.
On top of that, we have been able to successfully raise on the private money side. We moved from hard money to private money. We want to be able to continue to utilize that and make our investors money. We started a lending business off of that as well. We do have a partnership for the title on the back end. The idea for us was, “If we’re going to be out there buying real estate, let’s try to keep as much of that cost in-house and make money on ourselves.”
It’s like a cash-back rebate on the credit card, right?
That’s what it is. I’ll tell you this too. What we learned from all of this, though, is we can’t support businesses on the backs of other businesses. With the market and getting educated in the space, which I can’t talk highly enough of the network and folks that are out there willing to help, we’ve realized we’ve got to have independent businesses that are making money on their own. Otherwise, what’s the point? That’s the pivot we started to implement to be able to say, “Is this business making money on its own or not? If it’s not, how do we get it profitable by itself?”
In getting educated in the space, we can't talk highly enough of the network and folks that are out there willing to help. Click To TweetDon’t you have a RE/MAX office too, if I remember correctly?
Yes. We own a brokerage as well.
You own every part of the industry. Humor me. If you had to pick one to keep, which one would you keep and why?
It’s probably the property management company. Selfishly, I own lots of real estates that I’ve built over the last several years. I want to control how we manage that real estate. For me, I have to keep that business because I don’t want to put the fate of my properties and my real estate in the hands of somebody else. That would probably be number one. We have to realize from a value, a proposition or a long-term goal that the margins aren’t great in property management and we know that. From economies of scale perspective, we’re looking at, “How can we scale our enterprise value and operations in other areas? First, let’s make sure we’re stabilizing our management company.”
The opposite question is if you had to shut down one, which one would you shut down?
I don’t know that I want to answer that.
There are people out there who are going to hear this and think, “I’m going to go do that too,” but then, we all do these things. You’re like, “I wish I hadn’t done that one.”
I love investing my time and energy into what I’ll call jockeys at the end of the day. It depends on whom you have on your team. I’m a huge believer in the team. I didn’t do any of this on my own. I can’t. I have 24 hours a day. I like to sleep. I love my family. What I would tell you and how we’re looking at it is what people do we have doing what and how can we find the most success within that? Probably and realistically, it’d be whatever we don’t have as much of a shot at with the team in place to be able to scale that business.
It’s hard to pick a business because ultimately, it’s the team. If we get through the next 12 to 24 months or whatever this is, where’s CityLife in the next years?
First and foremost, CityLife is moving more into multifamily because it’s an opportunity for us that we can continue to scale our businesses operationally and investment-wise. We want to continue to do that. Our mission statement is to build happiness, transform lives and strengthen the community. I love Pittsburgh. I’m a diehard Steeler fan. It’s my favorite city in the world. I grew up there. I’m not going anywhere. I want to be the biggest player in all of Pittsburgh and I believe we can get there in five years.
I want to dive right into work-life balance. Building a 500-plus unit portfolio and a company with dozens of employees in 4 years takes a lot out of a person. What is it as a business person that’s allowed you to do that? Is it a team? Is it support? Can you talk a little bit about your work, your life, the balance and what it’s taken to get where you’re at?
I’ll be honest. I work less than I ever have in my life. I sleep more than I ever have in my life. Sometimes, I even think, “How is that possible with everything that we have going on?” Number one, it’s certainly the team. We have built such a tremendous team through our culture and abilities. The other piece of it is I realize I’m learning along the way that you are only as impactful and powerful as what you can give on that given day. You have to be able to take those mental breaks.
I’ve learned over time I could be so much more powerful and impactful in 8 to 10 hours as opposed to what I used to do in Corporate America, which was 16 to 18 to 20 hours every day. For me, it’s always been all about hard work. You’ve got to stay focused on what you’re doing on a given day. As long as you do that, what you can produce is so much more than just doing things to do them. How can you create the most impact every single day? I try to focus on that and then I go get my sleep.
You and I met at Kent Clothier’s Boardroom Mastermind earlier in 2022. One of the things you and I have talked about is how intentionally we give and listen to those things. If we could all apply ourselves in our daily lives and businesses the way we do in these masterminds when we’re paying attention and someone’s invigorating our minds and then we have an idea we can help someone, I feel like so much of that energy that we get out of those meetings is changing the way we approached what we were doing.
It’s, “How are we approaching every single day?” In 2022, as I started to get around folks like yourself and everybody else in the Boardroom, I realized how intentional people are daily. I’m like, “How much time was I wasting thinking that I was working when I wasn’t working?” I felt proud that I worked an eighteen-hour day. I would say, “What did I do today? Not much.” You change your mindset and say, “I worked a ten-hour day. It’s all I have because I have a young child at home. I want to be present in my family’s life.” They say, “What did I do in the ten hours that I worked?” It’s massive compared to what it used to be in eighteen hours a day. It’s getting around folks that get super intentional with everything that they’re doing and trying to emulate that.
A lot of my guests on this show have talked about the changes they’ve made in their life during the different seasons of their business. Maybe when they were first starting their business, they may neglect their family a little bit, be gone and then realize how important it is. On my website, it says, “The business is the vehicle, not the dream.” Kudos to you that you’re getting more sleep. Many entrepreneurs that are out there reading this, their business is not performing the way they want it to and they feel like the solution is to work harder. The solution is to spend more time and do more emails and social media. What you’re saying is that’s probably the wrong solution.
I don’t necessarily think it’s the wrong solution. There are so many different solutions. You have to take a look inside yourself and say, “What is the solution for me?” For me, in 2022 going in, aside from the market and doing what the market’s doing, I said, “I’ve got to get educated. I’ve got to get around people that have been there done that.”
My business has gotten to the point where it’s a little bit bigger than anything that I was able to handle daily on my own. From a confidence standpoint, I don’t know what I don’t know. The biggest education that I’ve gotten in 2022 is realizing that I don’t know what I don’t know. Surrounding myself with folks like you, Kent and people in the Boardroom have changed my life. It’s changed the way that I approach things and the way that I think about everything that I do.
What’s the difference between being in Corporate America, in essence, and owning an 8-figure revenue business and an 8-figure gross asset value business?
I spent ten years in Corporate America prior to getting fired and starting CityLife. The biggest difference that I find is you have to be able to create a desire for people to want to come to work every day. You’ve got to chase your happiness. My happiness was, “How do I change the future of my generation, my life and people around me’s life?”
There’s a why behind what we’re doing at CityLife compared to my entire ten years in Corporate America. That’s when I used to work 18 to 20 hours a day. For me, it was always about getting an education at that point in time. I don’t think I’m the smartest. I’m not the smartest in any room I’m ever in. I knew I had to outwork people. I didn’t know what my why was other than education and that drains you. It continues to drain you. You’re like, “What are we building? What is our real reason why?”
When you move over into the CityLife world, how do you create a why for yourself and then help everybody find their why’s from a risk tolerance perspective? I say it all the time. W-2 jobs aren’t a bad thing. If your risk is not wanting to be an entrepreneur, you could find your purpose in your why with a W-2 job. That’s okay. It’s about what you want, where you want to go and what you’re after. To me, it’s how you chase that happiness.
If you take your employees too much towards their why, aren’t you afraid that you’ll lose them?
Yes. I’m afraid that I would lose them for the immediate impact on that business but I’m excited for them. I know that the value which we can create long-term for myself, our business and everybody else around us working for our business is so much greater than what they’re doing for us that day. I’ll give you an example. My controller/CFO is spinning off his company. I’m super excited for him. We changed him from a W-2 to a 1099. I’m so excited to watch his journey moving forward. Does it hurt us? We made sure we agreed. I was like, “When you turn to that 1099, you’re still full-time. We’re still your number one client.” Long-term, we know we’re not going to have him as our future as far as what he’s doing for us but I’m excited about it.
It’s fun creating little mini-entrepreneurs in there.
It’s the greatest thing. I’ll tell you what changed it for him. It was Scale & Escape. I brought him to that. He was also in Chicago with me in the Boardroom.
Is it TJ?
No. TJ was in Denver. TJ’s still with us. It’s Jeff. Jeff’s spinning off his company. Those were the two meetings that I brought him to that have changed that. It’s to your point of the risk of, “We brought him to these things and it’s opened up his eyes. Now, he’s rolling out on his own.” I’m excited for him. It’s going to add value to my life and our people’s lives within our company. You have to think big picture and not be shortsighted around where we’re going and our why.
At RCN Capital, on the 1st and 3rd Friday of the month, I’ve started having these things called the Investor Hour where I invite a different person to speak to our entire company. It’s a different coach-in-the-locker-room type of approach. For us to be successful, we have to have a service mindset. It’s like when you have someone like Brandon Brittingham on the call and he’s like, “Develop your business and get out of the rat race,” and you’re like, “Hang on. We have 300 people. We need some of them to keep working next week.”
It’s like you said. Some people have no desire for that. They want to be treated right. They want to be rewarded. They want to be part of a bigger vision than maybe they have for themselves. How do you balance that? Are there things that you do at CityLife that reward people for their success or show them that they’re part of being the biggest in Pittsburgh? How do you show them a path of growth in a smaller company?
It’s simple for me. We made some mistakes in the past with hiring. The first thing that we do when we’re interviewing and then when they get into the company is write this down. We’re like, “What are your personal goals? How do we align your personal goals with our business goals?” We have to understand that sometimes, they don’t always completely mix. We say, “We’re about educating ourselves. We’re about creating fantastic goals and results but it might end. Let’s be open and honest about that. Write your goals.”
We’ve had people come into our company that said, “I want to be you. I want to be where you’re sitting in two years.” I’ll be like, “That’s great. Come help us and I’ll help you. Let’s get there.” Other people are like, “I’m CityLifer forever.” I’m like, “That’s great. I’m going to help you get there.” It’s about aligning those personal goals with business goals. If you could do that and understand when that’s going to change, that says it all. For me, that’s how you’re able to get people bought in.
Let them do what they’re good at. That’s the biggest thing. Ask, “What are you good at? What do you want to do? How can you make sure that you’re happy every day when you come to work, chasing whatever it is that you’re after?” For a lot of people in America, for people with CityLife and people in other businesses, that’s like, “I want to come to work and feel like I’m building something but I want to go home at 5:00 PM. I want to be with my kids. I want to go coach their football games in the evenings.” I’ll be like, “That’s fantastic. I’m going to be honest with you. You might not be able to start your own business one day.” They’re like, “I don’t want to start my own business. I want to be a part of your business.” I’m like, “That’s fantastic. Let’s do it.”
Speaking of doing what they’re good at, you mentioned that you had raised $11 million.
We’re getting close to $11 million but not quite.
How did you know you were good at that? How did that happen?
In year one, we didn’t raise any money. I wanted to prove the model first. I wanted to understand, “Can we do this?” I was never an entrepreneur. I came from Corporate America. I got fired from my job. I had no money. I was like, “How are we going to do this?” I wanted to be able to prove the model so we waited a year. At that point in time, I realized that there’s a combination that we could put together folks that have money that want to put it in safe places and we need money. I can create win-win situations for everybody like that. For me, it wasn’t about a sales pitch. It’s still not about a sales pitch. It has nothing to do with any of that. It’s that I can create win-win situations for everybody.
It’s the same thing when we’re buying real estate. I don’t believe in creating win-loss situations for anybody ever. I won’t do a deal if I’m winning and I know you’re losing big time. I only want a win-win. Raising money is exactly that. I can take your money, make you money that you’re happy with and I can make money off of that that I’m happy with. If you’re worried or you’re not going to be happy with your return or whatever that is, that’s okay. Let’s be friends and have a beer but I don’t need to borrow your money at that point.
To go from 0 to 8 figures in private money, how important was having accurate projections and following through on your commitments to get there?
First and foremost, following through is everything no matter what. I’m a firm believer in that. You’ve got to be known, liked and trusted. You use that all the time. You’ve got to create that relationship. Number two, you’ve got to know your numbers. I don’t know if you know this but I’m a CPA by trade. I was in Corporate America as a CPA for ten years. We have 5 public accountants at my company from the big 4 regional firms. That’s how important numbers are to me. I believe accounting is the language of business and we need to be able to speak it better than anybody.
Accounting is the language of business and we need to be able to speak it better than anybody. Click To TweetIn the private money world, it’s about creating trust. We have five public accountants. We know what we’re doing. This is our lives. By trade and lifestyle, we’re risk-averse. That helps us as CPAs because we know and understand the numbers. We want to be conservative in what we’re doing. It’s everything because we’re able to provide that for our investors. They’re able to sleep at night and not worry about their cash.
It is time for the Money Minute. I’ll frame it this way. There’s a young person reading this. Maybe Casey, before he got fired at a CPA job. There’s an investor out there that’s struggling. Whatever the case is, they’re going to get 60 seconds’ worth of advice. That’s it. This is the only 60 seconds worth of advice they get to hear so make it the good stuff.
You have to think deeply about yourself and what makes you happy. You have to go after that. We all have 24 hours of the day. We’re all going to die. That’s what we do know. What are you doing to compress that time and create happiness in your life? If you’re not chasing it every day that you get out of bed, what’s the point? You get so caught up in all of the different things going on in our lives, our business, the mistakes we’ve made and what’s happening in the market. Get up, get out there and chase your happiness. Compress the time. Get the education and the network that you need. Whatever it is that you need to think about, go chase that happiness, stop wasting time and go after it.
It falls right in line with what you were talking about getting up and going to make an impact in the day. Don’t go through the motions. Ultimately, is that the theme?
Yes. I tell people at CityLife all the time, “If you wake up on the wrong side of the bed today and you’re going to be miserable, stay home. We don’t want you around here. If you got work to do, do it from your desk at home. Come to work, be happy and go chase your happiness. Go after whatever it is that you’re trying to get because tomorrow may never come. Let’s get happy today. Let’s go.”
We’re going to get into some quick questions. You’re getting more into multifamily than single-family. Is it a land development commercial after that? Do you think you found your niche? How are you feeling there?
For me, not now. People ask me that a lot. They’re like, “What is the end all, be all? Are you going to spread your wings?” I’m not interested in ground-up development. I’m not interested in commercials. I’m interested in what’s safe. Everybody always needs a place to live. They need shelter. For me, I’m 100% about that. For the long-term, real estate’s not the end all, be all for me. Maybe we get into commercial as a company or we don’t. For me, it’s about business, jockeys and people.
How can we create the greatest happiness for everybody that impacts my life and I impact their life? What is that? For me, it’s business. I’m like, “How can we start investing in businesses to help scale those businesses and help them find happiness?” That is what my end all, be all is. Hopefully, fingers crossed, I continue to chase my happiness every day and get to a point in my career where I’m out there investing in businesses and people, first and foremost, to help them chase their dreams.
Often in real estate, we tend to trick ourselves that we’re special and unique. We think that it’s something that you have to pay a guru to learn versus it’s a business that you have to learn to operate.
I’ll tell you a little secret that not most people know. I don’t necessarily love real estate. I haven’t been to a house that we bought in six months. I don’t find my passion going into those houses. I find my passion in the team, motivating a team and helping them find happiness. A lot of them love real estate, their job and the education that they’re getting.
That’s why from day one I said, “We’re not going to run a real estate investment company. We’re going to run a business. We’re going to create enterprise value off of this business that’s worth way more than real estate that we’re buying.” The coolest thing about real estate in my eyes is it’s a balance sheet. I’m an accountant. I care about my balance sheet being healthy. Whenever I look at companies, the first thing I look at to determine if they’re healthy or not is what their balance sheets look like. I don’t care about their P&L.
What is your feeling on equity on a balance sheet? I’ve been talking with people a lot about it. I feel like we have an obligation to try to grow that part of the balance sheet too. Too many young entrepreneurs think only about the cash on their balance sheets. They don’t think enough about equity. How do you look at recycling properties, selling properties and going for bigger ones? What’s your personal thesis on that?
A little bit, it’s starting to mentally change for me through the education I received getting into the Boardroom and surrounding myself from a standpoint of like, “You’ve got to have a healthy cash flow.” From day one, we are always about long-term investment, building the equity and building the paper money as we’ll call it in layman’s terms for folks not familiar with the balance sheet terms. We’re still 100% about that.
I’m about the future and long-term investment. Whatever can make me support my family that I need, I’m not interested in anything else. We’ve come to the point where we need to make sure that our P&L is healthy as well and we’re focused on that from a cashflow perspective. For our business and everything that I believe in, it’s all about long-term equity and value.
We talk about the portfolio we built in three years. It’s worth $70 million. Let’s assume a 3% appreciation. Where’s that going to be in fifteen years? If we talk about now, in theory, I probably could retire. Will I ever know? I’ve been able to build the equity and balance sheet to be super healthy. That’s what’s fantastic. We know we’re about to go into one of the best buyer’s markets probably and hopefully we’ve ever seen. I’m getting more liquid to be able to get that back up to cash at the top and buy more long-term equity.
What’s most you’ve ever lost on a property?
$120,000.
What’s the most you’ve ever made?
$220,000.
Which one was a better experience?
Feelings-wise for my happiness?
That or education.
It’s both. Here’s what I’ll tell you. In both deals, it’s still short-term. We still own both properties. We’re continuing to make money on those. The deal that I lost $120,000 was temporary. I’ll make that back over long periods because I still have a $250,000 piece of property. I’m into it for more than that and that’s okay because it’s creating cashflow for me. It’s helping out my P&L and my cashflow. Even my losses can become wins if you do it the right way.
Looking into a crystal ball, how high do 30-year mortgages get?
They’re going to get into double digits. December 2022 is coming into another hike. March 2023 is coming into another hike. The way that I look at this is if they don’t, that is fantastic but we need to make sure we’re preparing it in case they do. Especially in our traditional BRRRR model method investing, if we’re not preparing for that, we’re going to be in a lot of trouble. Let’s prepare for it and hope for something better.
A lot of customers that I see out there are hitting their heads against a wall, still trying to do what worked versus doing what works. What do you say to the person that maybe had that magic pill earlier in 2022 and is looking at the TV thinking every day, “This is horrible. This isn’t working out. What do I do?” What’s your advice to him?
To stop looking at the TV would be my first advice. Many of us get so caught up in the market and news. 1) Go look at the real data. 2) How does that relate to your business? We can watch the news. I could listen to the information you put out there on a national level. The reality is none of that affects what’s happening to me in my local market. I need to be paying attention to exactly what my business is, my business model, my plan and what we are doing based on what’s happening to us that we can’t control.
Don’t worry about it. We can only control what we can control. Let’s focus 100% on what we can control. Get rid of all the other noise. Whatever happens, if the rates go into 10% or 11%, can we control it? No. We’re not going to be able to control that. Let’s focus on what we can control. If we have to pivot, let’s pivot. We have to go do some different things. Let’s focus on that because that’s what we can control. Let’s stop wasting energy and time watching the news about things that are irrelevant to what’s happening in your business.
Ultimately, the advice is also don’t ignore the problem. Address the problem and then go do something the next day that adds value.
I’ll give you a quick example of our business. We’ve built this monster equity and a fantastic balance sheet. When the market started to change, we started to lose cashflow on a monthly basis because we weren’t able to do the deals. We weren’t winning on our BRRRR models as much as we used to be doing. We were ignoring that problem. Every single month, we’d put our numbers up on the board and be like, “We lost another $50,000 in cashflow. What are we going to do?”
The next day, we would wake up and go back to work like we didn’t have that conversation because we wanted to ignore it. Get in the right rooms. Get the right people in your corner that are going to tell you how to call a spade a spade, help you get through those problems and make massive changes in your visions and business. Take action to fix those problems that day and do it. That’s what we’ve been able to do successfully.
Don’t obsess with the problems but address the problems. You got out and realize you still got a $70 million real estate portfolio. We’re entering a time when we get to kick the market in the teeth.
We’re cashflowing. We still have our portfolio. All we’re doing is saying, “We know the buy opportunities. The higher how those rates go and with what we know in our local markets with what we’re going, it’s going to create better buying opportunities for us. How do we address that issue? How do we go get more liquid? How do we continue to get better partners and more capital so that we’re ready to go when that comes?”
This has been great stuff but we are out of time. Do you have any parting thoughts or parting shots?
Yes. Get up and go chase your happiness because tomorrow is not promised. Now is. What are you doing to change your life?
There’s no such thing as a bad day in the United States of America. I’ve been all over the world and there is some stuff I’d never want to do again. Thank you for coming into town. Thank you for spending the time here. We’re out of time. Thank you for stopping by and reading. Remember, your network is your net worth and you’ve been growing both. We’ll see you next time.
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About Casey Quinn
As Co-Founder and CEO of CityLife Realty Group, a real estate investment company located in Pittsburgh, Pennsylvania, Casey Quinn is not your average real estate investor. With a mindset that relationships are the cornerstone of all successful business ventures, Casey believes real estate investing should be done the right way. This means empowering your people, strengthening your community, and operating with honesty & integrity every step of the way. Casey’s proven track record of success in real estate investing speaks for itself: • Growth of a robust real estate portfolio from $0 to $57+million in less than 3 years • 500+ units owned • 700+ units managed • 250+ deals closed Investors who work with Casey can count on a trust factor that just makes sense but often is difficult to find. From thoughtful deal structuring to careful consideration of risk reduction, Casey strives to offer strong returns in addition to long-term value & wealth generation.
The following podcast program is furnished by RCN Capital LLC. The information provided is for general educational purposes only and does not constitute any legal, tax, financial, investment or other professional advice. The views, thoughts, and opinions expressed of any speaker are the speaker’s own opinion and do not represent the views, thoughts, and opinions of RCN Capital LLC. No information contained in this episode should be construed as financial, investment or legal advice from RCN or any individual, author, host or guest. You should always consult a financial advisor before investing.
