Aug. 8, 2022

The Ins & Outs of Passive Investing

The Ins & Outs of Passive Investing

In this episode, we speak with K. Trevor Thompson, founder of Niagara Investments, who shares his remarkable journey of entrepreneurship that led him to the world of Multifamily real Estate. Trevor’s journey so happened to coincide with the skills he’s learned and built during his lengthy W-2 career and he was able to carry that over into the Multifamily space which has led him to invest passively in 17 opportunities, 15 active opportunities, and countless other asset classes. Trevor shares some of the early hardship lessons that have helped him make more sound investments, how to get into various opportunities, and how things to consider when investing passively in an opportunity.


Segment Timestamps

  • [01:14] Who is K. Trevor Thompson?
  • [03:38] Trevor’s exposure to Real Estate.
  • [06:27] Trevor’s first investment.
  • [09:31] Making no money on a deal yet getting a better pay-out.
  • [14:00] Importance of coaching and on-the-job learning.
  • [18:45] The importance of volunteering.
  • [21:20] Think before you quit your job.
  • [23:16] The Horse and the Jockey. What to consider when looking at passive investment opportunities.
  • [28:30] Networking is KEY.
  • [31:33] Trevor’s first deal as a general partner.
  • [33:25] Time-saving hack for an effective day.
  • [37:56] What’s it all for?

 

Episode Highlights

  • “our very first team meeting at when I started with the company “I fly” the owner actually gave everybody a copy of “Rich Dad Poor Dad”. And I read it just like so many people did, and I did exactly what so many people did, I put it back on the shelf and continue to work for my W2 job.”
  • “what really led me to kind of be interested in multifamily and I'm actually invested in a lot more was the fact that it felt like a business, I felt like it was making an investment in a business. And it just had that extra allure to me for that, because it kind of synced into what I was doing my whole life, which is opening businesses, making incremental improvements to those businesses to be more successful.”
  • “if you learn something even though you didn't earn something, I still think at some point, there's definitely something you can get out of it.”
  • “my goal is every morning to try to listen to something to learn something.”
  • “So for me, it's putting yourself out there so that you, like a lot of people are out there saying, what are you going to do for me? And I tried to put that on its head and say, what can I do for you? And with no strings attached, I mean, I just got on my first deal.”
  • “my advice to people out there, I know everybody wants to leave their W2 job and definitely, this can provide a means for it, but just don't leave it until you replace that income with passive income.”
  • “I hope they talk about how I made a lot of people come with me on the ride, I supported a lot of people and we made the world a better place when we left. Actually, that's what I want them to talk about.”
  • “I think at the end of the day, it's how many people's lives that you make better, is what wakes me up and makes me be very excited about what I'm doing.”

 

More About K. Trevor Thompson

A bit about me, to date I am an accredited investor participating as LP in 17 (15 active) syndicated deals and am GP on my 1st deal 240 doors in San Antonio.  Currently looking for deals on the GP side in Central TX. 

I am invested in multifamily apartments (1,000+ doors) retail strip mall, 1 Townhouse to Condo conversion (28 units), 1 Single Family Rental Portfolio Fund (250 homes), 1 ground up Multi-Family Fund (100 doors), and a medical office building, land development near the new Tesla factory in Austin and storage in Charlotte NC.

 

Relevant Links

 

Website:         Niagara Investments.

Email:             Connect with me.

LinkedIn:        K. Trevor Thompson.

Facebook:      K. Trevor Thompson.

Books:            Passive Investing.

                        Rich Dad Poor Dad.

                        No Excuses.

                        Best In Class: How to Manage Your Multifamily Asset, Avoid Mistakes, and Build Wealth through Real Estate

Transcript

[00:00:03] Marc Cesar: Welcome back everyone to the “No BS Apartment Investing” podcast. And on this episode we are talking to none other than Mr. K. Trevor Thompson. He is an accredited investor who has invested in over 17 deals, 15 active and one as a general partner, and he will share today insight on what it takes to be a passive investor, the ins and outs of investing passively in deals, as well as certain scary stories that he's experienced along the way, certain hiccups, and you'll learn how he's handled those issues, how he's become a better a savvy investor for doing so. So Trevor, welcome to the show.

[00:00:45] Trevor Thompson: Hey, Marc, how you doing?

[00:00:46] Marc Cesar: I'm doing good sir. I appreciate you being here.

[00:00:49] Trevor Thompson: It's my pleasure.

[00:00:51] Marc Cesar: Awesome. So let's just jump right into it. Again, you have a very illustrious career as an investor. As I mentioned earlier, you've been part of 17 limited partnership deals, on 15 active. But before we touch and dive deep into the meet of this podcast, let's get to know who Trevor Thompson is.

[00:01:14] Trevor Thompson: So I have the world's strangest background. So it's completely unique. So I'm originally from Niagara Falls, Canada. I spent my high school years working for Ripley's believe it or not. And then I went down the street and I worked for Guinness World Records. I worked for them for 18 years, it was a locally owned franchise. And then I got recruited by the parent company when they took back over their rights. So I ran one in the Empire State Building in New York City, and then manage to get a couple of locations opening the most famous in on Hollywood Boulevard in Los Angeles. So it's very exciting career. I decided I wanted to do a little bit more. So I started looking to do some consulting. So I actually for the same people that bought the Guinness opened the Wax museum in Branson, Missouri and helped them set that up. And then I was trying to put a Guinness World Records in Orlando, Florida. And that deal ended up falling through but strangely enough, I got involved in a deal to open a year round haunted house. And so I opened the haunted house in Orlando called Skulk Kingdom. Unfortunately, it wasn't that successful, but I learned a lot. And then I got recruited by a headhunter for a company at the time called Sky Venture now called, I fly, and I joined that company with the first location in 2000. And spent 20 years of that company grew the company up to 80 worldwide locations. And unfortunately, my time with that company ended with COVID as a lot of other people got displace, so I decided to switch over and do the real estate full time. So kind of a unique background. Not too many people have had that strange things. And I was joking around postings as most interesting man in the world, I posted a few things like standing on a guy in a bed and nails and traveling with the world's tallest woman. So nothing to do with real estate but super exciting.

[00:03:15] Marc Cesar: Yeah, I definitely take notice of those posts. And that is a very diverse set of W2 job opportunities, career so to speak. But interestingly enough, you've learned a ton from those opportunities. And now you're in real estate, what led to that exposure to real estate?

[00:03:38] Trevor Thompson: Yes, it was very interesting. So our very first team meeting at when I started with the company “I fly” the owner actually gave everybody a copy of “Rich Dad Poor Dad”. And I read it just like so many people did, and I did exactly what so many people did, I put it back on the shelf and continue to work for my W2 job. And I just worked and worked and worked. I did well, so that was good. But I wish so much, I just started earlier. And then what happened we had an event where we did get bought out by a private equity company. I managed to get a fairly decent pay day and I paid all kinds of income tax, and I kept remembering, hmmm, I remember reading that book maybe now's the time I should start looking into passively investing. And fortunately too it also gave me some of the funds that I needed to be able to do it. So I started looking for mentoring programs groups to join so I could at least learn something about it.

[00:04:43] Marc Cesar: Very nice. So what exact when you started looking for those programs and after reading “Rich Dad Poor Dad” and it ultimately came back full circle. What intrigued you about real estate, like what led you to wanting to throw in your hat into that ring, and I would say, start off as an LP investor opposed to what other individuals do looking to start off the active side?

[00:05:10] Trevor Thompson: Yeah, so what happened was is I looked and looked and looked at what I would do, and I had no interest in single family. And I do know a lot of people started with single family, but I had no interest in it. And what really led me to kind of be interested in multifamily and I'm actually invested in a lot more was the fact that it felt like a business, I felt like it was making an investment in a business. And it just had that extra allure to me for that, because it kind of synced into what I was doing my whole life, which is opening businesses, making incremental improvements to those businesses to be more successful. So I looked high and low. I went to a couple of those weekend seminars, one guy told me, I could buy an office building with a credit card that didn't quite sound that too logical, and I kept looking for somebody that I could at least get some mentoring from, definitely learned a lot since I first joined my first program, but at least I was with a group that was Texas focused and I decided to join the group and started investing with them at the very beginning.

[00:06:20] Marc Cesar: Awesome. And was it something in particular that caught your attention with that group or and what did you learn from them?

[00:06:27] Trevor Thompson: So I definitely learned a lot from them. But what I liked about it is they were local to where I was, it wasn't like I was joining some program where somebody lived somewhere else. I mean, I could go to a meet up twice a month, and actually touch and talk to the people that I was investing with and that was something that I really liked. I really wanted to get to know the people I was investing with.

[00:06:53] Marc Cesar: Awesome. It's very important to know who you're doing business with. I think the old saying is you want to do business with people you know, like and trust. So that's very important. So touching base on that, you've jumped in to with this group, you're there in your backyard in Texas, and you invested in your first deal. Can you take us through that first deal as a passive investor? How did it go? What did you learn from it?

[00:07:21] Trevor Thompson: I didn't have a clue what I was doing, I was trained, I'm gonna be bluntly honest, I didn't really have a clue. Like I looked at the PPM and just like everybody else, it was mind numbing. It was really mind numbing, and it was just there was so much information overload. I've learned so much since then. But I didn't know how to look at was it? What kind of asset really was it? How was the deal structured? Did they have enough money in the CapEx budget? I had no idea. I just knew that they bought this place, their past history was this and at the time, I knew and trusted them and so away I went, and I invested in the deal. But I did learn fairly quickly, that I wasn't really learning too much as a passive investor. So I started looking for information outside of my network and started getting a little bit more into and especially with the coming to the pandemic, and everything went on Zoom, it really gave me the availability to, I never would have met you, Marc, never would have met you. In a million years, we never would have met and I mean, I see like, every other week somewhere now it's like, we're friends. It's such an amazing, even though it was a terrible worldwide crisis, it certainly changed that dynamic. And I really started accelerated my learning by just joining different groups and getting different points of view. So that's the sort of the next thing advice right network and find people.

[00:09:07] Marc Cesar: Most definitely. Now we definitely know that in this space, continuing education is pivotal to success without knowing what to do or how to do it, you'll start a business and you might crash in a matter of seconds. In your case, how did you invest yourself to make sure that you will you stay current with what's going on in the real estate space specifically in multifamily?

[00:09:31] Trevor Thompson: I learned a lot, like my first two investments I didn't know very much, and they actually turned out to be my worst first two investments. They both went full cycle and I made no money. I didn't lose my money. But I learned that, first of all, everybody talks about, oh, it's a great way and other investments are doing really well. But there is a risk factor and you need to understand that. But again, if you learn something even though you didn't earn something, I still think at some point, there's definitely something you can get out of it.

[00:10:15] Marc Cesar: Correct. This is very true. It's not always about the money, but sometimes the most valuable, I would say, payout is the knowledge that you gain from something. Now, take us through those deals that you just mentioned that you make no money out of. When investing typically, we're investing to get a return from it of some kind, whether it's equity or financial. How did that work out for you? What did you take out of it? And were you pissed off that you didn't get any money, or what exactly?

[00:10:53] Trevor Thompson: So one of them, I'm going to focus on one, and I'm not going to mention property names or groups or anything important. But what had happened was is they got into, they had some very successful deals, and then they got into a couple that were more challenging, and I'm gonna refer them as more challenging. So they were deeper value ads, they struggled with it, because again, they had so many projects kind of on at the same time. I think they were definitely in hindsight, now I look back and read the PPM kind of go on and look at it, they were undercapitalized. And basically what happens is if you get to that and you tripped and you fall, it's really hard to get back up, so they got stuck with a bridge loan and couldn't roll into agency debt. They were undercapitalized, so they ran out of CapEx, and then boom, all of a sudden, the pandemic comes, and it's a deep value add property that's trying to turn didn't reach the turn at the time of the pandemic and so really struggled to fill the units, really struggled to keep things happening and I actually was furloughed at this time, and was a volunteer asset manager for 10 months on the property. So while I did, I learned a lot doing that. And we even ended up at the beginning, I was just going to help an overloaded asset manager, who was an employee of the group, but they ended up not really keeping him, so I was sort of the sole asset manager to which they fired the property management company. So it was like, oh, here I am in the deep end, but again, I couldn't have bought that education, I learned so much and we were doing really well. We just needed a little more capital to ride out the pandemic, and we would have come out really well. And at the end of the day, even though I didn't make money, the general partner and the sponsors, they worked really hard, and they actually did take a financial loss themselves to make sure that all the investors were whole, so I want to give them credit for that and they worked really hard just to get back, get out, get us our money back. And once it became that, they wanted to preserve the investors capital which again, is everybody wants a sponsor that's going to look at do that. But again, I learned so much and it gave me a little more insight now, as I started to look into deals, how to how to understand and how to really analyze them a little better.

[00:13:36] Marc Cesar: Awesome. Well, they do say the best teacher is experience and you definitely got your share fair in this deal. Now, do you simply learn partnering with operators that you're invested with? Or, do you actually go outside of the spectrum that find coaches find mentors and stuff to actually educate you further into the space?

[00:14:00] Trevor Thompson: Yeah, so definitely. So I actually, since I'm still part of that group, and I'm still part of their training and doing things, but I have since then picked up a couple of coaches and mentors. So one of my favorite books and posted before is a book called by James Kandasamy called “Passive Investing” and anybody who's looking to be a passive investor 100% say you should get that book. I recommend it refer it all the time. And I actually joined his mentoring program. And then I know you and I are connected into David Monroe, and I joined his mentoring program just because he offered, and I know he was on your show a couple of times and things but offered a different point of view. You got to can never stop learning and you need to find groups of people that can help you get to the next level. And again, there are tons of other people I learned from right. I mean, I've got a bunch of YouTube channels, my goal is every morning to try to listen to something to learn something.

[00:15:05] Marc Cesar: Now, that's very true. I like that.

[00:15:08] Trevor Thompson: And in fact, I had I coined it, I'm going to patent it, maybe I used to always say with my passive investors that I wanted to earn and learn. And we'll talk a little bit about that. But it meant and changed who I invested with and how I invested. So that I could combine a little bit of learning with my earning. And also invested lately with people that I've been also trying to do deals with, I call it putting my money where my mouth is, and hopes to be able to partner up with them at when it's an opportune time.

[00:15:43] Marc Cesar: I love it that is a great phrase on definitely to touch on your point that, again, education is very important because the world of real estate, it shifts very, it's just shift day by day, new things appears, new laws, new approaches, and you want to stay up and current with what's going on in order to become a savvier investor. Now, with that said, what has been your process that has helped you invest in 17 deals that can help our listener base should they want to invest passively as well?

[00:16:18] Trevor Thompson: Yes, so what I started doing was, I started connecting with people that I kind of thought like me, would do things like me. So I'm very interested in asset management training, so I spent a lot of time with learning about asset management and joined Gary & Kyle, had some coaching classes on asset managers and things. So I joined one of their investments again to learn. I've been trying to invest with, but I'm going to call people that I think I can learn more from and get different things from. So there's a local gentleman who has been doing several deals, and we've been putting out LOI’s together as well. And there's just not one that's worked out, but again, putting my money where my mouth is, I've been at least investing small amounts, not big amounts with him, just to keep close and learn a little bit about what he's doing. And I volunteer to help. I mean, I volunteered to be asset managers as an LP on the deal we spoke about before, there was another investment I made, which I went completely 180 because so that was a deep value add and so I went to an ‘A+’ property and invested and then offered, hey, is there anything I can help with, and they let me help research smart apartments. And so I just did all that my own cost my own time, I drove up to the properties three hours away, I met contractors, I met people, and my whole goal of doing this was to build a relationship with them be able to learn something. I learned a ton about smart apartments. And at the end of the day that made it, I'm close to them now and I'm hoping to be able to get into deal with them, or at least have them be a sponsor KP for one of my deals and build that relationship.

[00:18:14] Marc Cesar: Very nice. Now, I know, you mentioned something quite a few times, you volunteered. Now, I think this is interesting, because a lot of aspiring investors or individuals who are looking to get into the space, they feel that, hey, I want everything handed to me. Why volunteer? What is the benefit of volunteering in something where is a probability you're not getting much in return or, you're not going to get on a deal. What does that for you?

[00:18:45] Trevor Thompson: So for me, it's putting yourself out there so that you, like a lot of people are out there saying, what are you going to do for me? And I tried to put that on its head and say, what can I do for you? And with no strings attached, I mean, I just got on my first deal. And how I got there was I put myself out over and over again, saying, Hey, listen, I'm boots in the ground in Texas, if you need anything, I will do it. And if there's room for me on a deal, and it makes sense, I'll get on. I'll be honest, I've driven all over the state of Texas doing due diligence on that nothing happened other than I made a new connection. But then again, I got one on one. It's so important for new investors to put themselves out there and to offer to do more, be more than it then it can be. And this whole industry, this whole thing is a team sport. And by being a team player, you're just going to get more opportunities to be on better teams.

[00:19:06] Marc Cesar: Indeed, I am a big proponent of that mindset that you have. I added to my daily routine daily which is how can I add value to someone else? I typically ask people like, what challenges are you facing that you need help with? Because I may have the answer, I may not have the answer, but if that question is out there, then I can go and find the answer and find a way to position myself to be a value add to that person. And eventually, they'll take notice of that. And as you in your case, it led you to be part of a deal. And it's all a matter of the connection. So that's very key. I love that.

[00:20:35] Trevor Thompson: Thing saying with the Earn and Learn to because whenever you volunteered to do something, you got to figure out how to do it.

[00:20:43] Marc Cesar: Exactly.

[00:20:43] Trevor Thompson: Don't say, hey, take the time to train me how to do this. No, I'm just gonna figure out how to do it and give it back.

[00:20:52] Marc Cesar: Exactly. I love it. Perfect. Now, let's go a little deeper. Is there any scary situation that you have experienced in your journey, be active on your first deal or passive through your 17 deals that did not go as planned or just went left. How did you manage it? And how did it help you become a savvy investor to date?

[00:21:20] Trevor Thompson: Yeah, so nothing other than the ones I spoke about my first two for thank goodness, not good. Every one of my investments is doing been doing good. But I'll be honest, one of the scary things was, I got let go during COVID, and I made a decision to do this full time. And I'd set a goal to be on one deal by the end of 2020 and two deal, with three more deals by the end, I didn't. And so it's very scary. I mean, I put myself out there and everybody wants to leave the W2. But not everybody's ready to leave it, and I got pushed off the cliff and I made a decision, okay, am I going to make that big transition, burn the boats? So when you come to America, you burn the boats, so you can't get back and it's scary. I'm not gonna lie. But at the end of the day, I know it was the right decision to make, because it allowed me the time to be able to focus on it. But my advice to people out there, I know everybody wants to leave their W2 job and definitely, this can provide a means for it, but just don't leave it until you replace that income with passive income.

[00:22:36] Marc Cesar: Great, I just 100%. I think a lot of people definitely have the misconception that it's a common thing not to bet on yourself. But you want to be very methodical and strategic with it. You don't just want to quit your job and not have income to carry for your day to day, just invest. So you want to think it out and have a guideline to help you get there and you've exemplified that ties the times over again. Now what are some tips that you have when it comes to investment paths you that can help our listeners mitigate their risk, be it vetting sponsorship team, vetting the opportunity, etc.?

[00:23:16] Trevor Thompson: Yeah, so the way I like to put it is, is I invest in the jockey first, the horse second, and the track third, kind of a simplistic view, but the jockey who is the sponsor, who do I know? I'm investing in a jockey, like I want to get to know you, I want to talk to people that know you, I don't want to just believe all your internet hype, and all the great things you say you're doing, I really want to get to know you. And I want to invest with people that their values are aligned with mine. I want to make sure that they really are trying to make where they're the residents a better place to live, not just let's improve them, so we can charge more rents, but a better place to live and work and do things. And then the next one I invest in is the horse. So it's asset classes, what I call the horse, and I'm in multifamily a lot but I'm also in two land deals, a retail strip center, a medical center, a single family home fund, an apartment to condo conversion, and just did my first self-storage investment, just again, try to have a little bit more rounded on my track. So I'm covered now. Invested in the retail space we close the March 15, 2020 fast, but I'll be honest, it's come around, and it was one I was really worried about a cash call. But the first couple of quarters and 2020 were rough, but they've managed to pay out a 5% cash on cash and consider that a success and retails coming back. Especially it's small, it's just a small little strip center that needed some love and needed some better tenants in it. But in each one of those I tried to learn something and just try again offer, can I help? What can I do? And what can I learn like, very interested in the apartment, the condo conversion great, great thing to do in the city of Austin until they put an eviction moratorium, so you buy an underperforming apartment, can't kick the tenant out. And then when you finally can, you can't get a permit, because the city is backed up but thank goodness the real estate markets on fire, so it saved that deal and it's going to turn out to be a really solid investment firm just about ready to close out. But it was very interesting, just to have something a little bit different.

[00:25:46] Marc Cesar: Nice. I love it. Now, are there specific questions that you typically asked the jockey, which is the operating team, the sponsorship team before you jump and say, now let's look into the horse, which is the asset?

[00:26:03] Trevor Thompson: Yeah, so I guess at the beginning, I have nothing, it has nothing to do with the deal. It has more to what do they want to do? Why are they in the space that they're in? And it's odd questions. A lot of people think I just want to talk about the deal. It's not really want to understand you and I want to understand your partner's and what do you what is your plan? And what are your goals? So I like to do that first. And then obviously, yes, you want to know about their history, but I'll be honest, most of the people I have invested with didn't have a big history, because I was trying to align myself with new investors that I may be able to join later. So it's a little bit of different scenario where I didn't go after what I'm gonna refer to as the “comfortable group” of people that are always going to be successful.

[00:26:52] Marc Cesar: Understood. Now, is there a time limit that you feel comfortable with saying, Okay, I know this person, now I know them, I know their background, I can invest with them more or ss it just subjected to the individual?

[00:27:08] Trevor Thompson: Yeah, so I get to know them. And then I watch what they put out and sometimes don't invest in their first deal. But I'll talk to them and then find, because obviously, I still want to find a deal that makes sense to me. Most of my investments are in Texas. That's because I'm in Texas, and so definitely. So the first one that didn't make money, if I hadn't driven it, I'm not sure I would have invested in it. It was a little deeper. And I'll be honest, a year later, I walked through the property. And I went, “Oh wow, this is a lot rougher than I thought”. And then when I started managing it, my joke to my wife was when I was coming home, she say, how was your day? And I said, Man, I didn't call the cops today, it was a good day. So it was a really, I got to know a couple of police officers pretty well. It was tough.

[00:28:00] Marc Cesar: Now that is good. And I love the fact that, you're willing to look for newer investors, so to speak, not initially invest in their first deal, but just to build that relationship, and over time, you can find a way to collaborate in part with a partner within that is very important. Now with that said, what is the day like in your life when it comes to multifamily, when it comes to personal development and stuff like that?

[00:28:30] Trevor Thompson: So I've been packing myself with, lately with getting to know you meetings, really trying to broaden my investor base. It was a mistake I made at the beginning that I didn't build my investor base. Learn that really hard now that I'm trying to raise money for the first time that I needed to spend more energy getting my investor base. I built my multifamily network, but everybody in that network is also looking to raise money from somebody else, not necessarily looking for a deal. So that was a huge misstep. And then every night I'm on some sort of Zoom call meeting or in person meeting. And I've been going to meetups, soon as COVID broken there was a meet up in Houston in person I was there. And I actually, I'm three hours away from Dallas and Houston. I tried to go to an in person meet up every quarter just to build that network. And then right now, my time is just spent trying to network and build my passive investor base. That's right now, but before that, it was building relationships with lots of people.

[00:29:45] Marc Cesar: Oh, very nice. And do you have any specific system that you use to systemize your database from all the connections you made pre COVID and to post COVID?

[00:29:58] Trevor Thompson: Yeah, so this is an interesting confession. I am an untechy old guy. And how embarrassing is this, my last email blast was 350 cut and paste email addresses and messages. Pretty sad, isn't it? It’ really sad because I know I should have spent the energy to build the machine in the background. So definitely my next thing I need to do for me is to build that infrastructure. And I would wish I'd have started it earlier, because I had nothing to do other than I needed to reach out to everybody. So I had to do what I could do, but it's just keep connecting and learning is my biggest advice.

[00:30:49] Marc Cesar: Definitely and confessional on my end as well, I am not super techie. I'm a young guy, but I'm not super techy as well. And I think I had the same issues with I have not honed in and nurture my database well enough. And now I'm actually taking time out to reach out say, okay, hey, how can I build funnels, I want to make sure that all this relationship I build don't slip through the cracks is very important to definitely keep up with your investors for sure. Now, just to go back a bit, I see that you are part of your first GP deal 240 doors in San Antonio, congratulations on that. Can you give us a bit of a background to how you got into that deal? And your position, and what are you doing and what are you learning from it?

[00:31:33] Trevor Thompson: Yes, so first of all, it is a 506B, so if I don't know you, you can’t invest in it. So I want to make sure I make that clear right now that finally by the time this airs, hopefully it will be closed. So, it all started out the same thing myself putting myself out there to people, so meeting and connecting with people, and then connecting with them and saying, listen, if you're looking to do a deal in Texas, I want to be an asset manager. I have this experience as an asset manager, even though it wasn't an official one. I spent my whole life opening businesses and doing incremental improvements. I enjoy operating businesses and those things. So, I just put myself out there, and to be honest, actually did some stuff and the deal went through and I was like, man, I was so disappointed. I sent an email saying, well, congratulations on that and I said no strings attached. So, it was just a pure positive and if you need anything, I'm still here for you. And boom, shortly thereafter, well, we actually do need something. So I was brought on to help with the asset management properties just a couple hours from my house. And I'm going to be the boots on the ground part of the asset management team. And I'm with some other experienced people. So that'll be a really good fit for me to make sure that I'm implementing the plan that the sponsor team wants to have implemented. So again, very happy to be on this and the first of many.

[00:33:03] Marc Cesar: Very good, I love it. Again, congratulations on that deal. We're optimistic even though, it may not have the ink hasn't dried on the paper yet. But we're optimistic and we're thinking big. So congrats on that one. Now, do you have any best time saving hacks that you found, which helps you daily?

[00:33:25] Trevor Thompson: So I am a super planner. I plan everything. Like, I mean, I put lunch in my calendar, so I make sure I don't miss it. So being very disciplined and then backing that up with being very punctual and responsible. If I've got a 10 o'clock meeting, I'm there at 9:58 and I'm waiting to be led into the meeting. I think that's an important thing to show up ready to do what you're doing. And so just and planning things out. And then I put chunks of time into my calendar for getting things done. I'm rereading the Hunter Thompson book and he talks about time blocking to get certain tasks done, and I'll be honest, I time blocked and then I got a little busy. So now I'm reviewing it. And just making sure that you're efficient with your time and efficient with the calls that you have with people.

[00:34:27] Marc Cesar: I love it. It's very interesting that you mentioned this because I'm actually reading the book, “No Excuses” by Brian Tracy and he actually mentions the exact concept where you want to do what the 98% of the average individuals don't do. So that means if people show up late or they show up, you have a 10 o'clock initial and a 10 or 10:01, you want to be there five minutes early and I'm a big advocate for “on time is early, early is late and late is unacceptable”. And you also want to put yourself out there and just show yourself as the go-to guy. And in your example, we've seen that you constantly showing yourself as the go-to guy to the point that you've been invited into multiple offerings, and you have your choice of picking and choosing what you want to get into. So definitely complements that book. It is a great book and I'm still going through it, I'm just digging into it daily.

[00:35:25] Trevor Thompson: Now you posted about books, and I come in I think, so I found audible, and I've turned into, I mean, I did 100 books on audible. At the beginning, I was a little more discipline than I need to get that back where I forced myself to write a one pager on each book. So that it's something a little better. And some of them I have to listen to multiple times, some I listened to every quarter to remind myself of what it's going to be. And I usually try to pick a time about a lot of driving stuff, I'm going back and forth to for this deal in San Antonio, I can polish up a book pretty quickly, and still pay attention to it.

[00:36:03] Marc Cesar: Yeah, very nice. I love audible it is, that's how I function as was my, it's my university on wheels, so to speak.

[00:36:12] Trevor Thompson: And I'm lucky, there's no one else in the car with me. I couldn't do it. If I had kids in the car and my wife still isn't all that excited about my real estate career. So she's not too happy to have me listen to the books while we're driving.

[00:36:29] Marc Cesar: Understandable. Now, what makes you a go giver, Trevor?

[00:36:34] Trevor Thompson: I think my parents taught me well, I was so lucky. My parents were giving kind generous people. And so I'm so lucky that I grew up in a family that had that. And I just believe in it works, just put yourself out there and it just works. And so many people were kind to me when I first started in real estate, and I try to pay it forward by connecting with new people and taking the time to spend some time with them and talk to them. At the end of the day, those are the kinds of things that people are going to talk about you. To say, hey, Trevor owned a billion dollars with a real estate. I hope, I mean, hopefully I do. But I hope that's not what they talked about me when I'm gone. I hope they talk about how I made a lot of people come with me on the ride, I supported a lot of people and we made the world a better place when we left. Actually that's what I want them to talk about.

[00:37:41] Marc Cesar: Very good. I love it. Now, what is your burning? Why'd that wakes you up every morning and says, what I want to take this risk, I want to die falls my time into a multifamily. I want to do this. What is that why? What is the drive behind it?

[00:37:56] Trevor Thompson: It's very interesting, because originally it was okay, I like it. It's a good business with some good people. And I can make some money doing it but it's become bigger than that. So it's become in improving the communities that we have a chance to invest in our own, making it a great place for people to work. So a lot of people like spend the days beating up the PM Manager, PM Company and beaten up the property manager. Now just give them the tools to be successful and support them, you'll be shocked what they'll do for you, if you do it that way. And then, that makes it a great place for investors to be able to earn money on their investments, which allows them to live their “why”. So if it's kind of, I don't know, I'm not the Lion King, but it's the circle of life. You develop something and then other people get come along for the ride for and it changes their economic situation, which feels there why. So, I think at the end of the day, it's how many people's lives that you make better, is what wakes me up and makes me be very excited about what I'm doing.

[00:39:09] Marc Cesar: I love that. That is awesome. Now, as we're coming close to the end of this amazing episode, Trevor, what’s up next for you, your team and your company?

[00:39:21] Trevor Thompson: So I set a goal to be in two more deals by the end of this year. And on the GP side, that's a goal that hope. I had that goal last year, and they didn't make it some being more diligent to get to there. And so in short, that's my goal to be able to do that. And I think I set a really good base for it. And so now it's just executing on everything that I have done to date.

[00:39:51] Marc Cesar: Awesome. And if people wanted to get in touch with you and connect, how would they go about doing so?

[00:39:57] Trevor Thompson: Yeah, so either LinkedIn or Facebook, K Trevor Thompson you'll see I'm very active on both. I do my company does have a website, niagara-investments.com. Okay, so again from Niagara Falls so never use their rights, so niagara-investments.com. Those are the best ways to be able to reach out to me. Just mentioned, you saw me on the “No BS podcast” and I'll definitely accept your invite and connect with you.

[00:40:28] Marc Cesar: Awesome, I appreciate it. Well, we've definitely come to an end. Trevor, I want to thank you for surviving our so called Hot Seat and sharing your story. And of course, our listeners, all the info, all of the contact info that Trevor mentioned will definitely put me posted in the show notes. So, Trevor thank you sir for your willingness and sharing your expertise with us.

[00:40:50] Trevor Thompson: It's my pleasure. Definitely my pleasure to finally get on your show.

[00:40:55] Marc Cesar: Most appreciate it. And with that said everyone, happy investing into all your success.

K Trevor Thompson Profile Photo

K Trevor Thompson

A bit about me, to date I am an accredited investor participating as LP in 17 (15 active) syndicated deals and am GP on my 1st deal 240 doors in San Antonio. Currently looking for deals on the GP side in Central TX.
I am invested in multifamily apartments (1,000+ doors) retail strip mall, 1 Townhouse to Condo conversion (28 units), 1 Single Family Rental Portfolio Fund (250 homes), 1 ground up Multi Family Fund (100 doors), and a medical office building, land development near the new Tesla factory in Austin and storage in Charlotte NC.