Episode Transcript
[00:00:00] Speaker A: You're listening to the Preferred Way, a retirement podcast brought to you by Preferred Trust Company, the preferred custodian for all alternative investments.
[00:00:09] Speaker B: Thank you for joining us for another episode of the Preferred Way, a Preferred Trust Company podcast. And today we're excited to have a member of the management team from Excite Capital here today we have Tenny Tollefari and he's going to talk to us all about multifamily investing and all about the initiatives they have going with Excite Capital. So what?
[00:00:31] Speaker A: Welcome.
[00:00:31] Speaker B: Thanks for being here today. Tinny.
[00:00:33] Speaker A: Thank you so much. Christy, how are you?
[00:00:34] Speaker B: Nice to have you in the Las Vegas area. Tell us what you're doing here. First, we'd like to find out why you're in Vegas.
[00:00:40] Speaker A: Yep, yep. Vegas, Vegas, Vegas. So last year, nmhc, National Multifamily Housing Council, they had their conference in San Diego. This year they brought it to Vegas. So I'm here representing Excite Capital.
Basically, NMHC is where everybody comes to nationwide when it comes to multifamily real estate investing. So had an opportunity to meet a lot of folks that I've been talking on the phone with. And now we got to eat, drink, just hang out, talk all the things Vegas, everything. Exactly. It was really fun.
[00:01:12] Speaker B: So tell me a little bit about that. So are you meeting investors? Are you meeting other companies, other investment sponsors there?
[00:01:20] Speaker A: Yeah. So you get to meet a lot of people from different facet of different aspects of the industry. For example, I get to meet my competitors. Like my mentor was here as well. I get to meet a lot of them. I get to meet the brokers. They say the brokers hold the keys to the cookie jar. Basically, they sell all the deals. So you get to meet a lot of those guys here. Also you meet like property management companies, some investors. But this is not a place to raise capital. This is not a place to try to get investors. This is a place to deepen the relationship of the people that you've been talking to on the phone, people that you've been trying to expand your rich with. And then you get to have conversation, deep conversation with them. So I think in this meeting, I had about 40 meetings over the last three days. Yeah.
[00:02:09] Speaker B: So, well, we're glad you set some time aside for us.
[00:02:12] Speaker A: Absolutely.
[00:02:13] Speaker B: Joining us today.
[00:02:13] Speaker A: You guys have been a great partner to work with. So I wanted to come out, see you guys office and have a conversation.
[00:02:18] Speaker B: Well, I appreciate that.
[00:02:19] Speaker A: Thank you.
[00:02:19] Speaker B: Enjoyed working with you guys. So tell us, first of all, tell us about your role with Excite and a little bit about your personal journey and your professional. How you got to be the role you are now.
[00:02:32] Speaker A: Okay, yeah, absolutely. So my title at Exact Capital, they just gave me a promotion.
I'm the Chief Growth officer now at Exact Capital and the head of acquisition and one of the founders of Exact Capital as well. Exact Capital was founded in 2019.
My background is it cybersecurity. So I went to Bowie State for grad school, and I did the nine to five stuff. You know, I was working. I worked at the likes of Boeing, Deloitte. I worked with them on cybersecurity, RAM. And in 2019, me and Leslie, who is our chief operation officer and one of the founders of the company, we started a company initially, and all we wanted to do was just invest in single family homes. We just wanted to buy real estate because there's a principle that for you to build wealth, you have to go in real estate. And I did not have any real estate in my portfolio at all. So when I met Leslie, we had conversations about just doing real estate on a small scale. And then suddenly we came across multifamily real estate. While we were doing our research on how to get into real estate, we came across multifamily real estate. So we were like, we lived in apartments. Maybe we can try to see if we can buy these things. But we now got faced with a huge challenge, which is the knowledge gap. So Leslie's a crna. This is in the medical space. I'm in it. We don't have anybody, uncle, brother, sister, anybody that does investments in the larger scale in terms of family real estate. So we were like, maybe we need to go figure out how to get knowledge. And then we went to Facebook. We just started searching stuff.
So we went to Facebook. We got a mentor from there.
He told us about, man, you guys got to raise capital.
I think that mentorship lasted for about two or three months, where he just like, man, you guys just gotta raise capital. We're like, man, how are we gonna raise capital? We don't know how to do any of this stuff. We need to understand the fundamentals of what we're doing. And then we ended up seeing that he's not a good fit, because one of the ways that you can either learn from somebody else experience or you make a lot of the mistakes.
And we decided to invest heavily in ourselves via mentorship, Beer, books, via conferences, podcasts. So we did a lot of educational. Consumed a lot of educational materials in that process. So we got the right mentor that said, you know what? I see you Guys are hungry. You guys want to really do this? I'm going to hold your arms and then teach you how to do it.
So we started partnering. We invested first in 2019. I think I invested in my very first deal as a passive investor in 2019, because I wanted to learn this stuff. Because before I'm going to go with somebody and say, come, let's go invest in deals together. I want to know how it works. So I invested passively at first. Me and Leslie invested passively at first. And then we got invited to come in as cogp. Co GP is like general partner on the deal. We have the active and the passive side. The active side is like the managers that run, find the deals, put it together, operate the deal, exit the deal. That is the general partnership side. So our mentor invited us to become co GP on a deal. And he said, one of the things you can do as a cogp is to talk to your family and friends to raise capital to come and join the deal.
So me and Leslie took the opportunity. And Leslie is a crna. He basically put people to sleep when they're about to do surgery. Yeah. And then our CEO, Dr. Julius Oni, he's an orthopedic surgeon, so they both work in the OR together.
So when we had the opportunity, he took it to Dr. Oni. I was like, man, Dr. Oni, we have this opportunity. Do you want to be a part of. Do you want to be an investor?
So Dr. Oni, he's a very. He's a savvy investor. He's invested in a bunch of startups. He felt like, you know, at that point, he felt like he knows a lot with investing. But when we brought this opportunity to him, he said, I've not really heard about multifamily real estate investing and I consider myself a savvy investor. So he went around, asked about his buddies, and some of them know a little bit about it, but he was like, man, how come I don't know anything about this? So he called me and Leslie up. I was like, guys, I don't just want to be an investor, I want to be a partner. So that's how Dr. Oni came on board. And then three of us didn't have anything at that time. So when he came on board, we got a momentum. He became the CEO of the company. And now we have $168 million of assets under management.
In two to three weeks, we have a $49.1 million deal that we're closing that's going to put us at $278 billion of assets under management over just.
[00:07:01] Speaker B: A short period of time. Really?
[00:07:02] Speaker A: Yeah. In six years. In six years, yep. And in this journey, we've brought in a lot of investors with us, folks that are looking to just invest passively, folks that are looking to be active as well. So it's just been an amazing journey. And in that process, we came across you guys a partner that can help us teach people how they can use their retirement account to invest in alternate assets and then continue to build that relationship with you guys. And I think that's how. That's the short of the story.
[00:07:28] Speaker B: That's the short of the story. So tell me a little bit about your new role now. Head of acquisitions, growth architect. Kind of going out there, finding the deals, I'm assuming, right?
[00:07:38] Speaker A: Yes.
[00:07:39] Speaker B: So what are you used to be able to determine whether or not a deal is good or not? You know, what are your standards for when you're looking for what you want to invest?
[00:07:47] Speaker A: That's a good question.
So as the. I used to be just the director of acquisition. My partners just surprised me one day, and they're like, tenney, we see what you're doing in the company. I think both of us came together and said, you know, we want you to be the chief growth officer. And I think the reasoning behind that was because in the last six months, six, five to six months, we've seen a significant amount of growth in the company.
For context, the deal we're buying right now is a $49.1 million deal. We're buying it in Atlanta. It's a 268 unit property.
We're raising about $22.3 million from that on that deal because the deal is not highly leveraged. So when I mean highly leveraged, meaning the bank is not giving us too much money. They're giving us about 64% of the money that we need. So we have to raise the rest of it, and we have to go to a lot of investors, you know, and you have to talk to them about one by one. 25. 50,000. 50,000. 50,001.
So in that whole process, we have to build our internal systems and processes to be able to sustain the amount of people that are coming into our environment to raise the $22 million. So I played a significant role in helping build the whole internal system, the whole sales process and stuff like that. And my partners were like, man, you know, you. You're an example of tenacity.
Because I don't know if, you know, you guys Are aware right now in the economy, people are not able to raise capital across the board. Retail investor, institutional investors, syndicators like us, everybody's struggling and we being able to raise $22 million is a significant amount of work. So they saw, they recognize the work I did there. That's how they gave me the chief growth officer. I'm getting used to the name. And then from the acquisition side, they call me tenacious. The reason behind that is if I want something, I do not stop.
So now I've been able to build relationship with all the top brokers in all the markets that we're in. They know me by name, they know Excite capital as a brand.
And yeah, so I find the deals, bring it to the team.
We have a huge team back behind us. So when we bring the deal, we evaluate it. And some of the things we look at when we're buying a deal, we look at population growth because it's like just little fundamentals. If people are moving to somewhere, they'll need a place to stay and we want to be those guys that provide housing for them. And a lot of times if people move somewhere they don't want to go buy a house right away, they might want to just rent for a little bit, find the right area where they want to live and then they go by. Right. So we look at population growth is a key metric that we look at before we look at if we want to buy a deal or not.
Excuse me, job as well. Right. We don't want to go in an area where companies are moving away from. So we look at job growth, we look at diversify employers. For example, if you go to Detroit right now is the author industries in Detroit is focused on one industry where if something happens to its, the whole economy tanks. So when we're looking at job, we're looking at diverse job, you know, medical jobs, it jobs, administrative jobs, retail, restaurants, everything. So we look at that balance. So we also look at school.
For example, this property we're buying right now, the average school rating is about 8 of 10, meaning a lot of families want to live here. Right. So we look at schools, we look at crime.
You know, there's a crime high, crime low. There's something called the sniff test. All of it I'm sharing with you right now is just basically our sniff test. So when we go through the sniff test, we look at job, population, income, schools, migration pattern, all of this stuff. And if all of that checks the box, that's when we're not diving to the deal. Because when you're buying these apartment buildings, you're basically buying a business, right? And you have to understand the business that you're buying, meaning you have to understand the macro, the micro and macroeconomic analysis of the project. And then you have to do an analysis of the asset itself to see if it's a good business to acquire. Meaning you have to look at the income is producing the expenses that you're incurring in a project and then see if it's a feasible one. For example, this deal, I think we reviewed about 2,000 deals before we found this one. These are all the things that we have to do upfront before we bring the deal to the investors. And of course, when we bring the deal to the investor, we've already done our due diligence on it. We know that it's going to be a great investment before we bring it to them and then they can deploy their capital on it.
[00:12:17] Speaker B: So what areas are you guys looking at? What do you think are the most up and coming areas now for these type of deals?
[00:12:23] Speaker A: That's a good point. Actually. Marcus and Millichov just produced that report before nmhc.
I'll answer your question first. Where we buy deals, we buy in the Southeast. You know, North Carolina, South Carolina, Georgia, Tennessee, Alabama, Texas. We're looking in Texas now. But Microsoft minichap report came out and they identified five markets market that you want to buy deals in 2025. And I'm going to list them.
[00:12:49] Speaker B: Okay.
[00:12:49] Speaker A: The number one on the list, at number one ranking is Miami, Florida. There's a lot of people from California, from New York. You know, they go to Miami and they buy nice houses there. So number one is Miami, number two is Orlando, Florida. As you know, Orlando is a tourist location. But now people are beginning to move down there from the west and of course from the north as well. And then the third one was actually Las Vegas. Really look at us, Las Vegas.
The third one on the list is Las Vegas. I think we have seen a lot of people move to Vegas as well.
[00:13:20] Speaker B: You can tell by the amount of California plates on the cars that are driving.
[00:13:24] Speaker A: Exactly. So Las Vegas is the third on the list. And then the fourth is Dallas, Texas. Dallas and Fort Worth. Those areas, a great area. People, a lot of people are moving down there. And then lastly is Houston, Texas. So I had an opportunity to meet a lot of the brokers that are in Dallas and some of them are in Houston. I just told them, hey, going forward, even though I live in Charlotte, North Carolina right now. So even though I'm buying in the Southeast. You know, I'm looking to come to the. You know, the Texas is in the Sunbelt, so I can go move down to Texas a little bit, look at some deals. So I'm going to be going to Texas where I visit Dallas and Houston to kind of find some deals for the team.
[00:14:04] Speaker B: So one of the big things that I really like about Excite is that you all really work very hard to educate, provide education, even for people who are not ready to invest yet, right? How to teach people how to get involved. So talk a little bit about that, because I think that's a huge part of your company and what you put out there, which I think is such a positive thing. You're going to love to have people investing.
[00:14:26] Speaker A: You're going to love this. So the name Excite Capital is spelled X, S, I, T, E. So you came from the word excitement. Excite. So when we came across multifamily real estate, me and Leslie got excited.
So I can remember very well, we're sitting in Wegmans in Maryland. I used to live in Maryland. I went to Bowie State for grad school. So I worked at the D.C. area. So me and Leslie were like, hey, let's meet up and have a conversation about where we're going to go with this business. So we met in the Workman's in Upper Marlboro, and we sat down there in a little corner. That's where we registered a company in Maryland. And they were like, man, what are we going to give? What name are we going to give the company? Well, we're like, man, we're excited. We're excited about this opportunity. So many people give you something that comes with Excite excitement. So we had the ex. So Excite is ex, C, I, T, E. Right? But we're like, let's get rid of the E. Just leave X. And then we have a big logo X. And they were like, site. Maybe we'll take out a C and put S, which is a location. We're like, man, that sounds good. Let's just call Excite Capital.
So that is where the name came from, Excite Capital, which is. We were excited about learning about this information that we did not know that was available to us because I lived in apartments, but I didn't know that I can go buy an apartment. I can remember at the time we were thinking about, how can we raise a million dollars? Because if you're buying a commercial property and you want to buy a million dollars, a million dollar property, that's Commercial, you're looking at from 25% or all the way to 45% that you have to raise. It's not 5%, it's not 2.5%. So if we're buying a million dollar deal, that means we need to raise $250,000. That's minus the amount of money we're going to use to do the renovation and all of that good stuff, which is probably going to go to 350 to 400 grand. So me and Leslie was like, how are we going to get this capital to do it? So that whole idea of actually even thinking about it was scary. It was scary. But we were like, well, but other people are doing it. Why don't we just try to figure out what they're doing and then we can try to do it as well, which is they actually go out there, teach people about what they're doing, and then they raise capital. So that's what we did. So we were like, okay, we're going to go to our community, tell them that, dude, this asset class exists. Now. I'm talking about community. I'm talking about professional community, black and brown folks, immigrant community, a lot of doctors, because Dr. Oni is a doctor. He's an orthopedic surgeon, a renowned surgeon. And Leslie crna, I'm an it. Why don't you go to these guys and tell them, do you guys know that you can buy apartment buildings? And I love them. Like, are you kidding me? Is impossible.
Not me here sitting down saying we're raising $22.3 million. When we started, I was scared of raising $200,000, right?
But the only way we got here was through education to just letting people understand that there's trend in numbers. If we come together, we can go buy these big deals together and we all make money, right? And if we do that again and again and again, we're all just going to build wealth. And in addition to building, you know, cash flow, you know, appreciation, there's a lot of tax benefits that come with investing in real estate as well. And a lot of us are high earners. We're making multiple, multiple six figures and we end up paying 40% in taxes. How can we reduce our tax burden significantly? And we realized that real estate is one of the ways to do it using depreciation. So that's where like, man, we're going to go educate our community as much as possible. And that's what we've been doing. We actually created, last year, we created a platform called the Beyond Nine. To five.
[00:17:55] Speaker B: I was just going to ask you about that because I love that. I think, yeah, we talked about that earlier today. We love the name.
[00:18:01] Speaker A: Thank you. Thank you. And the principle behind that is more just education where we will let people understand that you can actually leverage your, your 9 to 5. Your 9 to 5 is actually an asset rather than a liability. A lot of people are, man, I don't like my 9 to 5 anymore. I hate it. No, no, no, no, no, no. It's a means to an end. You can use that to kick start whatever you want to do. Without my 9 to 5, we wouldn't have been able to build exact capital. I recently just quit my job in July of last year. For the last five years, I was leveraging my life to fight my 9 to 5 to build Excel Capital, my whole partners, that's what we did. All our investments, we invest in almost all our deals is these things where we invested and the only way we got those capital was we had a nine to five. So if anybody's listening to me right now, your nine to five is the seed capital is an asset that you have that you can use to do anything you want to do. You want to do a side gig, you want to have a. You want to become an entrepreneur, you want to sell water. Your 9 to 5 is an asset that you can leverage to be able to get that done. So the house, the Beyond 9 to 5 came about where you can create endless possibilities for yourself and your family. Leveraging your 9 to 5. And your 9 to 5 is what everybody we use to build, whatever we build. Again, don't quit your 9 to 5 until, you know, until whatever you're doing is producing a significant amount of revenue. Then you can quit your 9 to 5 and go all in.
[00:19:21] Speaker B: And go all in like that. So earlier we talked a little bit about how you select deals, how you select areas. So but what have you seen in the change just, you know, across the board in the real estate industry where you've had to kind of adjust and make. You all have had to make adjustments in what you do and what do you foresee in the future.
[00:19:42] Speaker A: So, and that's a challenge we all are trying to navigate.
So in 2021, 2022, there was. So when you buy real estate, you use debt, you know, use money from the bank and debt is an instrument that you can use. Just an instrument. Depending on the climate, different type of debt exists for you to buy deals. So in 2021, 2022, there's this thing called bridge Debt that was available for folks to use to buy deal. And why it was good was because they usually front you, they give you a lot of the money that you use for the construction of the project is a temporary loan where you get it, you go in, you do your renovation and then in three years you can refinance and then go into a longer debt. Because one of the the laws of real estate is you want to use long term debt. But this tool came in and a lot of people were using it. Now the mistake a lot of people made was they were not putting in what's called a rate cap, meaning it's a variable loan. You need to put a cap to how high that the interest rate can go up if something happens in the economy. So a lot of people did not do that.
So inflation went up. So during COVID there was a lot of money that pumped into the economy. Inflation got out of hand. The Fed had to step in. And when they did that, they increased interest rate. When they increased interest rate, everybody that did not have a rate cap on their loan, everything went up. Now think about, you know, let's say as an example, your mortgage is a million dollars and boom, that million dollars now that you're supposed to be paying for mortgage goes to 1.5, $1.6 million. And you still have the same amount of income coming in from the project. So because of that, a lot of people that have these floating rate debt, they became, they started struggling, right? So to answer your question, where we see things going in the real estate space is a lot of these guys that have this floating red debt. They are all coming due right now.
The bank is going to force them to sell. So what we're seeing with high interest rates, high capitalization rate is reducing the prices of properties. For example, the property that we're buying right now in 2022, it was valued at 6. $60.77 million. We're buying it for 49.1 right now. That's because cap rate has expanded. Right then in 2021, 2022, cap rate was really, really compressed. And cap rate is basically just market sensitivity or market sentiment. The stronger the market, the compressed. The cap rate is places like maybe Detroit, cap rate is probably 8%, but in Las Vegas, that's going to be a hot market. Cap rate is probably going to be five, five and a quarter, something like that, right? That means properties in these markets are going to be more expensive and stuff like that. So, so going forward, we're going to see a lot of deals Come to market. And that's some of the conversation we're having with a lot of brokers. So what happened as well with the Fed increasing interest rate? A lot of us investors, we're not sure what we're going to do. Like, if I go buy a deal right now and they keep increasing the interest rate, that means the cost of capital goes up, right? So everybody was like, let's pause. So everybody paused for two years. Now that we know that the Fed has started reducing interest rate, people are beginning to say, okay, maybe we can get back to the market, because we know interest rate is not going up anymore. We're going to stay a little stable, and now we can transact because we kind of know where interest rate is. Historically, interest rate used to be significantly higher. We got spoiled.
[00:23:02] Speaker B: Right.
[00:23:02] Speaker A: In 2021 or 2020. 2020 21, interest rate went to zero. You're basically getting money for free.
[00:23:09] Speaker B: Right?
[00:23:09] Speaker A: You know, so that spoiled a lot of people. And I'm believing that in the next quarter, things are gonna open up a little bit and we'll be able to do more deals.
[00:23:17] Speaker B: More deals, yeah. What do you foresee for the future of excite and like, five years down the line, 10 years down the line.
[00:23:25] Speaker A: Oh, man. This year we're trying to do $200 million worth of deals. I already told everybody, if you're listening right now, if you're a broker, you're an investor, come and join us. We're trying to buy $200 million worth of deal this year. Put the word out already. They say shoot for the stars. No food for the moon, and you fall on the stars, right? That's the saying, right? So I'm shooting for 200 million. If I hit 100 million, I'm winning. If I hit 50 million, I'm winning. But this year we're trying to do 200 million. Our goal is to buy $10 billion of assets in the next decade. Okay. And the only way we do that is we're going to partner up with a bunch of investors.
Our investors are their diverse background, but mainly medical professionals. And now we're beginning to build a relationship with some institutional capital as well. So some of this capital is coming into our deals. This is what we're doing right now. We're working with a potential institutional partner on this deal that we're working on right now. So, yeah, we're going to acquire a bunch of deals. We're going to try to transform lives as well. One of the things we do as a company is we educate A lot of people where you don't think that you have to work with Excite Capital to get into these assets. If we're able to teach you how to do it, you can go do it yourself. Yeah, then go do it yourself. We empower you. For example, in this conference right now, I invited a couple of my mentees and the relationships that I've been building for the last four, five years, in a very short period of time, I was able to link them up. You know, this guy sold me this deal. This person is trying to buy a deal. You guys have a conversation. And those relationships are built because of the track record that we have now. They were like, yeah, I trust any. So because he's recommending you, I want to work with you. So we want to transform lives in that regard as well. Teach a lot of people how they can go do what we're doing here at Exact Capital. So that's one thing we're doing. Another thing we're doing as well, CEO, he's trying to transform orthopedic surgery in Nigeria. So we are supporting some of those initiatives as well. So our profit that we make as exact capital we're going to use to support here, help him transform musculoskeletal care in Nigeria. I'm not in the medical space. I'm trying to get one right. So he's trying to transform that. So we're going to support that significantly. Also, we.
There's this thing called the Skill Bridge program. We have folks that are coming out of the Navy. They're trying to transition into the corporate world.
We've been able to have about four or five people come to Excite Capital, where they come and learn about apartment buildings, how to invest. Actually, right now we hire two of them that is not an employee of Exact Capital. So as a way of giving back, you know, we support the skillbridge program, we support initiatives in Nigeria. We help educate a lot of people to be able to create companies like Inside Capital while we buy assets as well.
[00:26:04] Speaker B: So, well, one of the things in working with you all is getting to really help people increase the value of their retirement account by investing in alternatives and being able to invest in Excite Capital with their retirement account. So talk to us a little bit about that. How has that helped you guys raise capital?
[00:26:22] Speaker A: That is huge.
And everybody that's listening right now, this is super important. And you can Google this. You know, you don't have to take my words for it. You just put it on Google. Just, you know, you just type what can I invest with my self directed ira. And what is a self directed ira? You know, it's amazing what your retire. You can use your retirement account for that a lot of people didn't know about. I didn't know about it. I worked at Deloitte for seven years. I had all this retirement account. And the interesting thing is right now I think there's a data point that's out there that says $1.65 trillion with a T. Yeah. Is hanging right now where folks don't have actually forgotten that they have that money there. And he's just sitting there. They didn't know. Now a lot of, a lot of people might be interested in oil and gas, you might be interested in crypto, you might be interested in precious metal art. All of these things are things that you can actually use your retirement retirement account to invest in. And the only way you can do that, you have to roll it out to a self directed area and that's where you guys come in.
So in this deal that we're doing right now, I think we have close to $5 million from over $5 million from people's retirement Account. And the markets right now, the stock or the mutual funds, they do I think 7 to 10% on an average return.
Syndication deals we can do. This deal we're doing to do 15.5%. Historically we've delivered 29.97 average annual return to our investor. That's our track record. You can get that in the stock market and you're not investing in anything that's volatile. For example, they just talk about Deep Seek that just came out, all the tech companies that got hit. That's not something that's going to happen with alternate assets like this. So if anybody doesn't know that you can use a retirement account for alternate investment, just do some research, you know, just go on Google and do your research. And of course, if you need somebody that will help you, Preferred trust is here to help.
[00:28:20] Speaker B: And they can invest with Excite and of course. So how many deals do you have? Like are there deals open right now? So if somebody is interested in opening an account and getting started with you.
[00:28:28] Speaker A: All, yes, we have a deal. Now the deal we have is wrapping up in like two, three weeks. We're going through the loan approval process with Fannie Mae, but there's still some spot left. You know, minimum investment in our deals ranges from 50. You know, we have some people coming at a million dollars, 750, 600 grand. Yeah. So we have an open investment right now. It's an institutional grade asset, 268 unit deal, buying it for $49.1 million. Great asset. Grade school occupancy stays high for the last 30 years, over 92%. So it's a stable asset. In Atlanta, Georgia, we're excited about our deal. This is going to be our second deal in Atlanta. So we're excited about our project.
[00:29:06] Speaker B: Awesome. Anything else you want to tell us about Excite or what you have going on before we tell them how they can get a hold of you?
[00:29:12] Speaker A: We're just excited. I think the future is super bright. I'm here in Vegas, meeting a lot of folks that I've been building relationship with, with now for a long time. Me and my partners, we, we're locked in, we're all, you know, in this full time now and we're just ready to buy a bunch of deals, help people make money and, and build wealth in that, in that process, you know.
[00:29:33] Speaker B: And provide great education too. I think the thing to remember about Excite is they can provide you if you've never invested in real estate before, if you don't, you know, kind of out there not knowing what to do, that's a great way to get started. The education that you guys are providing is phenomenal.
[00:29:49] Speaker A: Absolutely. And one very important thing that I want people to understand is access. Right. A lot of people don't understand that they have access to these asset class. Right. And sometimes when you think about it, you get scared. You're like, man, is $5 million is too big, I can't do it. No. There's no one person I've seen today that used their own money to become wealthy. None. The building that we're in right now, the person that owns it did not use his money to buy it. They use other people's money. They come together collectively and go buy these deals. So if you're thinking about investing, educate yourself, pull some resources with people and then go buy it. And you can get access to it. Just like I got access to it excited, my partners, we all got access to it. You can get access to it as well. And if you are struggling, reach out. You know, I'll give you guys my contact information, reach out to me and we can chat. I can spend some time with you, give you some educational guidance and you can run from you, do with it, whatever you like.
[00:30:45] Speaker B: So tell us how they can reach you.
[00:30:47] Speaker A: So you can find me on LinkedIn. I'm very active on LinkedIn and I'm on Instagram as well. It's Tenny t e n n y to Lofari t o l O F A R I that's the only tenet on a fari online. And the name of my company is Excited Capital is X s I t e capital.com. and yeah, and then my cell phone number is 202569 5072. If you want to call me, text me, just reach out. I'm very responsive to inquiries, for sure.
[00:31:15] Speaker B: Well, thank you. We appreciate you being here today. Appreciate you've been a wealth of knowledge.
[00:31:19] Speaker A: Thank you so much.
[00:31:20] Speaker B: And we're excited for you, too. I think it's kind of infectious the. The attitude you have, which is. Which is phenomenal. So if you're out there and you're interested in investing, if you have retirement dollars socked away somewhere that you haven't looked at the account in a long time, here's your opportunity to raise some in some capital for a great company and to get your retirement going. So, yeah. So definitely give us a call. Give them a call.
[00:31:45] Speaker A: And I've actually used my retirement account from. Using. From Preferred Trust Invest.
[00:31:50] Speaker B: He has, yes. So he's a testament that it does work.
[00:31:53] Speaker A: And these guys are phenomenal. Like, you know, I can't say enough about you guys, you know, very easy to work with. It's responsive. That's all you can ask for when you're looking for partnership, because when it comes to this deal, it takes a lot of work and you just need the right strategy partners that you can put on your side to go on this journey with. So thank you all so much for having me.
[00:32:14] Speaker B: Thanks for being here. Thanks for joining us today. And thank you all for joining us today. Look out for the next edition of the Preferred Way again, buddy.
Thanks for joining us for another episode where retirement savers meet alternative investments. Can't wait for the next episode. To learn more, visit our website website at preferredtrustcompany. Com.
