Sell to Landlords

Mike: Hey, everybody. Welcome back to the show today. I have a great guest today, Mark Woodling. He is a high level executive with Roofstock and very much has his ear to the ground of technology and learning. He’s going to talk to us today about what’s happening in technology space, and how it’s impacting us as investors.
Professional real estate investors know that it’s not really about the real estate. In fact, real estate is just a vehicle to freedom, a group of over 100 of the nation’s leading real estate investors from across the country meet several times a year at the Investor Fuel Real Estate Mastermind to share ideas on how to strengthen each other’s businesses, but also to come together as friends and build more fulfilling lives for all of those around us. On today’s show, we’re going to continue our conversation of fueling our businesses and fueling our lives. I’m glad you’re here. Hey, Mark, welcome to the show.
Mark: Hey, how’s it going, Mike?
Mike: Good to see you.
Mark: Thanks for having me.
Mike: Good to see you. So just to clarify to everybody that is your normal outfit, right, the head, the sweat band and the gym gear?
Mark: Yeah, yeah, today’s happens to be Halloween. So it timed out perfectly with your podcast. So you get to see the real deal, you know, the red T-shirt. And funny enough, all of this came right out of my closet about 9 p.m. last night, so I wasn’t really sure what to do for our office party. And all of a sudden, I’m like, “Man, I have all this great gear. I had no idea.” So it was easy . . .
Mike: Your very resourceful.
Mark: Yeah, though I didn’t have the hairspray. So it’s, you know, not the same as the ’80s a little bit. But that made it nice.
Mike: So those of you that are watching, irregardless of when you’re watching this or listening. We’re actually recording it on Halloween and so. But anyway, so great to have you here. I’m really excited to spend some time with you today. And I think you know, a lot of . . . we talked a little bit this upfront, a lot of real estate investors are grinding. And, you know, we got the iBuyers coming into a lot of markets and a lot of technology stuff going on. And some investors feel like all this technology is making my job harder.
And I know what some of the stuff that guys are doing, which we’ll talk about today at Roofstock is creating some, you know, more partnerships to work with individual investors versus competing against us. So it’s going to be exciting to talk about that. Before we kind of jump in, why don’t you talk a little bit about your background and how that’s evolved over the past, I guess, you know, since you’ve been in the real estate investing space?
Mark: Yeah, absolutely. So you know, I got into the business without any real estate background. So it started 19, almost 20 years ago, I responded to an ad in “The Washington Post” that said, “Auction, travel and real estate, if interested apply.” And I ended up applying and the company was investing in tax liens across the country. And one of the questions in the interview was “Hey, do you like gambling with other people’s money?” I’m like, “Yeah, that sounds like a blast?”
Mike: Who doesn’t? Yeah.
Mark: Yeah, how I do this? They were like, “Well, do you know auctions?” I was like, “Yeah, I understand what an auctions is.” Well, they wanted me to go around the country, drive by every property that was going to the tax lien sales, and then actually show up a bid at the auctions. So I would go around to 30 states every year, I mean, 22 years old, just you know, living on the road, driving up and down rural street, rural roads in Iowa, and then going to bid at the auction. So it was a really good way to see every market in the U.S. all the way from like Baltimore, New Orleans, Washington, DC, like the hard areas, all the way to like, you know, rural Iowa and Nebraska. So, man, it opened my eyes that a guy from Texas didn’t realize what real estate was all about till you actually hit the road and kind of got to see what the rest of U.S. was like in terms of values, you know, what drove values and so forth.
So after that, worked at Fannie Mae during the recession. That was actually really interesting because I started in 2008 right when things were hitting the fan and was there through 2012. But I worked in their auction group so I was disposing of about 18,000 properties a year and again working in real estate on the selling side now and doing auctions work with different auction vendors like the old REDC, auction.com now.
But disposing of those because there was just too much inventory and not enough demand. So I got to see the ebbs and flows of the market and you know, from there went on to a company called Xome owned by Nationstar Mortgage up in Lewisville, Texas and was their chief auctioneer, so actually became an auctioneer and was licensed in 28 states to sell across the country. So, I mean, and that was all of the Countrywide portfolio that Nationstar had acquired. So and it’s just kind of the opposite view of what a lot of people go from to get into real estate because they buy one property usually, and here, I’m drinking from a fire hose and learning about real estate everywhere else but where I actually lived. So a great experience.
Mike: Yeah. And then you found your way over to Roofstock.
Mark: Absolutely. So with Roofstock, yeah, I came over here because I saw just such a great opportunity in the marketplace and that’s what I had seen in Xome, how we create an online auction marketplace. And with Roofstock, it was really first of its kind, single family rental marketplace where you can . . . any investor around the country or world can buy one single family rental property that’s already cash flowing and get, you know, property management bolted onto the process. So it really becomes as passive of an investment as possible. And buyers are buying confidently and not having to worry about ever showing up to see the property before they buy.
Mike: Yeah, that’s cool. We were talking about that a little bit before we started here about just, you know, single family rentals . . . a lot people that are watching the show are active investors for the most part. But single family rental properties has really become kind of a main street asset class where it used to be like, if you have rentals, you would consider yourself probably a landlord or an investor, like a real estate investor, but not just like, “I’m going to go buy mutual funds or something else,” like it’s actually kind of come into the light of being an asset class that pretty much anybody can invest in. Right?
Mark: Exactly. It pretty much became institutionalized back from like 2012 when Fannie Mae, Freddie Mac, they were selling pools of these single family REOs off to these companies, like Callan Capital, Starwood Waypoint. And they started acquiring these and figuring out how to really wrap around financing from Wall Street. And as time went on, Wall Street got more comfortable to the point that you know, they were lending at lower rates, even hard money lenders, as you see today are lending at a lower rate because they feel so comfortable in this space. So yeah, leave it to the Wall Street institutions to kind of, you know, create a comfort level that drives pricing down and makes it more competitive.
Mike: Yeah. And we operated for a little bit. We had kind of a division through FlipNerd where we were in the turnkey space for a while. I have a bunch of friends that are in that space. And at the end of the day, we used to pair people together with operators and you’re always at the mercy of, “Do they have inventory and how good is the property management?” And it was always very rough, like your experience you would have from one market to the next or one operator to the next was very different. And that’s starting to kind of get more of a vanilla feel almost wherever you invest, right, as an investor in properties that you would buy through Roofstock, right?
Mark: Yeah, exactly. And that’s a part of with Roofstock what we’ve worked on so hard is to control the cost per property management, which is typically where people will just lose their shirts, right? Like you get a great acquisition, you get the rehab, right? And then you pick the wrong tenants. You know, they’re costly, they’re damaging the property, or you just can’t keep them longer than a year. So you know, really what, you know, what these companies like Roofstock have done is we’ve picked the best of the best property management companies to partner with. They’re by no means owned by us. But we really said, “Hey, we’re going to vet these guys and make sure they understand what the client needs.” And we can help control costs by overseeing those property managers.
So, yeah, you’re right, institutional investors are the ones that really systematized the process. So they can squeeze that dollar. Quality sometimes, you know, falls a bit, but that’s really the point of this whole model is trying to figure out how to create one property as a single investment, and then manage it just to that one property. So that’s where Roofstock really steps in is, “How do you manage that one property rather than just pools of assets?” Which is really what Wall Street’s done. So trying to democratize the way real estate investing is done, but more for the end user. We’re not really focused on the upfront acquisition side. It’s more of a, “We’re just selling those turnkey or rent ready properties.” Meaning somebody in place it doesn’t need a whole lot of work and you pretty much have a cash flowing property for long-term buy and hold.
Mike: Yeah, yeah, that’s awesome. And you know and you’re a member the Investor Fuel Mastermind, and we’ve gotten to know each other a little bit here. And the cool thing about your model is I think for people that don’t really know who you guys are, sometimes they’re like, “Are you guys an iBuyer or you just . . . ” Because truthfully most of the technology companies out there are people that have gotten people that I guess get a lot of limelight are competing against investors, right? We feel a lot of pressure here in Dallas, obviously Phoenix, some other . . . lots of other markets. But you guys actually work with investors. So you just said you guys are not acquisition specialists. You’re relying on investors to feed deals to you and you’re really kind of more of a brokerage that’s helping fill demand at the other end, right?
Mark: Yeah, exactly. So when we say marketplace, most people are like “So you’re like on Amazon?” We say “Yes,” but not nearly that big. We want to feel small but, we are here to really create a confidence level with buyers. So those buyers have a safe place to shop for properties that they can trust. Because yeah, you’re right, we’re a brokerage that is representing the listing side of the transaction, meaning the seller, and then buyers are coming to us feeling confident that they have all the due diligence documents and that Roofstock curated the property to make sure that, hey, you know, we’re going to get an inspection if there’s a major issues, it would be addressed before it gets listed on Roofstock.
So really, the end goal is we want buyers to be able to buy confidently but not have to go through MLS and like tour the property, visit it. We’ll do all that dirty work. So it really makes it a cleaner process and it doesn’t disrupt tenants. And it doesn’t frustrate the sellers by going in and out of contract. You know, we remove the contingencies from the inspection point of view so, you know, pretty much when you go into contract, it may have to go through financing and get an appraisal. But that’s pretty much it. So we really take the guesswork out of it. So we get from point A to point B very quickly.
Mike: Yeah, yeah. And I know, like I said, I know a number of the turnkey folks around the country. And, you know, a lot of people have gotten out of that space, really, because they didn’t like the headaches of it. I mean, I didn’t meet very many turnkey operators, that likes doing property management. And obviously, the key to successful rentals often always comes down to the property management.
And you know, so you got people that are doing it, because their customers like, require it, or they want them to, or they expect them to, but they secretly hated it. And sometimes it wasn’t even that big of a secret. And so then, you know, or they have some like, you know, weird partnership with a property manager that doesn’t have the same relationship with the customer. And I think what you guys have done is you kind of democratized like, “Hey, we’re going to suggest a couple different property management companies.” But they’re kind of fighting to get that business so they have to compete which, you know, consumers win when that happens, right?
Mark: Yeah, you’re exactly right. So you know, when an investor comes to our site, they can look at financing, they can look at, you know, different insurance providers. And same with property management. So yeah, we want to be the one-stop shop that an investor can come and feel comfortable. And you know, most of our investors are the ones that have been reading the BiggerPockets books, just blasting podcasts all day, every day, and really getting to the point where they’re ready for that first purchase. But there’s still a little skittish on where to start, right? They don’t know if they can trust a certain broker in a different market, or who’s really guiding them through the process as maybe it’s a turnkey provider.
So with Roofstock, yeah, we’re working with sellers from all over the place. It’s not like it’s just institutions that are feeding properties or turnkey providers. It may be, you know, a mom and pop that became accidental landlords and they’re like, “Hey, I’m ready to offload this thing. It’s a headache.” But others want to take that on because they know how to, you know, put the systems in place to make it a simple transaction, a simple process and make it as passive as possible.
But yeah, we’re not trying to limit ourselves ever to who we work with. But we definitely want to become more of a marketplace where sellers can feel comfortable that there’s a process to selling properties on Roofstock, and they can figure out “Hey, what’s the buy box? What’s my expectation of how much rehab I should do? And how can I manufacture deals so I can sell two properties a month through Roofstock and have a high level expectation that the property will get sold quickly?” So that’s kind of my job is you know, trying to work with turnkey providers, advanced investors really simplify what is needed in order to fit into our website because it’s not a fit for everyone. And we don’t want to be the property that’s a fit for everyone.
Mike: Right. And not every property is a fit either has to be kind of a rental grade type property right. And so it’s not like you know, I’ve always said this, like, there are people that wholesale everything, people that rehab everything. It’s like not every property fits that box. Like I don’t want to . . . there’s certain properties that I don’t want to rehab because it’s just not worth my time. I don’t want take that risk. There are certain properties that fit like my rental portfolio, like if they fit in this box, that’s what I want. And I wholesale everything else.
And so every investor is different. But you know, I think one of the great things about it, so a number of years ago, I pretty much moved. We were doing like full-on rehabs like all the time. And then as the market got hot, we started wholetailing more. So I’m like, “Well, hey, we can just like clean it. And it needs a bunch of work, but put it on the market.” And it worked. And it really wasn’t. It was kind of a byproduct of doing that. It’s like my life was a lot easier because the sales process was just easier.
People have different expectations because they’re buying an as-is house. It was easier for me to just use an agent to list the house versus having a dispositions person or having hundreds of investors call me and I got to go through showings and stuff. So that actually, you know, was a byproduct, something that I didn’t really expect as like, “Hey, the sales process is just easier for me to kind of wholetail or take this other strategy versus assignments.”
And I think that’s one of the things that you offer for people that are doing a lot of wholesaling now, because the disposition side of the business is, is in and of itself, its own business. Right. And it can be a burden, for sure. And I think to be able to effectively hand it off to somebody like you guys that are going to take care of that adds a lot of value as well.
Mark: Yeah, absolutely. And, you know, I’m a licensed real estate agent and being an auctioneer as well. I mean, there’s a ton of touch points on the sale process. And you know, the phone calls for out of state investors is just the biggest time suck because they’re really coming in so green, and they have no idea and you have to sell them from A to Z on every step of the process.
So Roofstock takes that on, that’s our MO. You know, part of what we do very much like Investor Fuel, it’s about education, right? Like you don’t take the hard sales approach. You make sure that they feel comfortable and once they get to that point, then they’re off to the races. So yeah, Roofstock takes that same approach. You know, we want to make sure that anybody that comes to us feels comfortable and knowing how to fit into our model. But yeah, it will never be a hard sell. But it will be a nuts and bolts. Here’s how you fit in, here’s how you do a rehab. Here’s what will sell fastest.
And then part of what I do is I just send data over and say, “Hey, here’s some of the sales Roofstock’s done in the last, you know, 12 months. Here’s exactly the location cap rates, cap rates are 7% to 9%.” I mean, people, it blows their mind, but it’s really just what our investors are looking for. And we’re just playing matchmaker at that point.
Mike: Yeah, yeah. And which adds a lot of value if you’re buying. I think that’s one of the values you add to those that are buying if they’re out of state is, “Hey, effectively I have a partner that is looking out for me,” right. But I think on the acquisition side or where you kind of source your properties from investors. I mean, I don’t know if you can, there’s probably, you know, you can’t obviously promise this but I think there’s opportunity to make more money by selling through your platform to people that are going to keep it as a rental versus assigning it to another investor, right?
Mark: Yeah, exactly. So I would say, you know, to your point, exactly, you know, the fact that you can outsource the sales process, focus your business on acquisitions and the rehab, I think that can really help build and scale your business. But yeah, anything that you can do to offload, you know, those kind of stickier processes, that’s always a big selling point. But yeah, if we can give you the confidence level of what exactly sells in specific markets that you may be passing on right now and say, “Hey, Mark, I don’t go into this zip code, because it’s just too tough. But I can source properties there. I just don’t want to,” But if I showed you there’s enough demand in those markets, then you may say, you know what, you know, that’s the light bulb goes off. “I can absolutely help you, Mark.” And that’s the kind of relationship I’m looking for and it’s helping you discover what is there in front of you and being able to say yes, instead of passing on some of those deals.
Mike: Yeah, and I think that’s one of the big value adds, and I didn’t really think about that before we started, you know, talking before you joined Fuel is like, “Hey, is it a strategy, like, I could just take some of the deals I’m doing and feed them there, make more than I would on an assignment.” Because I know you’re not going to be able to quote this or have any like hard statistics that would apply towards everything.
But at the end of the day, if you’re selling a property on as a rental and it’s a rental grade property, you’re usually able to sell it at a little bit higher price than if you’re selling it on certainly to a rehabber that has to make money on it again in the middle. And then the rental grade repairs are different too, right? If you’re evaluating a property with retail grade repairs, and you can save money on rental grade repairs. So that one’s the obvious one.
The one that wasn’t so obvious up front is like, hey, there might be deals you’re passing on right now, because you haven’t considered this exit strategy. People might be willing to pay a little bit more for that and after they know how to work with you, you know, and they realized that exit strategy is a more predictable, then they could potentially pay a little bit more for houses that they might pass on otherwise, because of the way that you guys help them exit, right?
Mark: Yeah, you’re right. So yeah, I think the owner occupants these days, you know, are asking for a certain grade just like what you’re saying, go for the wholetail, get it rent ready, get it sold, but now we can take that same model and apply it to different markets that you may not be in. So yeah, it really just takes I think the burden off, you know, the investor trying to flip it to millennials these days who want, you know, as an owner occupant, they want this thing done to the nines, versus, you know, what renters are looking for, and then applying that to even broader markets. So it may be able to help you expand into cities or, you know, tertiary markets that you’re not exactly in today.
So, yeah, this is, it’s training on both sides, though. And I like to make sure that’s useful for you guys, because you may say, “Hey, Mark, I would never go into these markets for this reason.” Well, that’s good feedback for me. So you know, I openly take advice when it comes to specific market experts like each of the Investor Fuel members, but same time we could tell you if we have, you know, investors that are buying in those areas that we can open up to you. So our buyers and investors are technically yours. If you’re listing with us, you get full access to it. You don’t have to build your list of, you know, these out of state or out of country investors.
Mike: Yeah, and you know, there’s stuff that happens, like this happened to me recently. I’ll give you a scenario that kind of blew my mind and it just reemphasize that I you know, sometimes I create this avatar of like people that want to buy rental properties all think like me, which is kind of a scary place that everybody would think like me. But no, it’s like, I assume people want it at a discount. I assume that they, you know, would only buy houses between like this ARV and that ARV.
And we have a house. You know this area here in DFW, sold a house in Plano. This was like I’ve rehabbed hundreds of houses and this house I was like, the most proud of any rehab we’ve ever done. I mean, I was pleased, like we spent a ton of money, totally decked out. Like I would, aside from the fact that it’s a 50 year old house and the rooms are small and stuff like that for a guy like me, like I would live there. It was awesome. You know, it was very nice.
And, it was like $350,000 ARV. We sold it within, you know, the first day we had like 18 showings and the person that ended up buying it was an out of state investor that turned it into a rental. It just blew my mind like, “That’s not a rental grade house, how are they even making that work?” I don’t know. But the truth is for me or any investor to think that they know what the avatar for any given house is for a rental, like it just, it’s one of those . . . another experience, like things like that have happened every once in a while and I’m like, “Who does that?” And in my mind, I’m like, “Well, I don’t know.” But clearly people do. And what opportunities have I closed myself off to because I didn’t think like that person.
Mark: Exactly. You know, and I think another kind of area or line to dance around on top of that is like, “Hey, where are the iBuyers buying? And why are they not buying below a certain price point?” So you may be buying an area and expecting one thing but you know, now you’re playing with a whole another group that’s interested in whether it’s high value properties that you can wholesale directly to them, you know, and you’re like, “Wow, I have like so many different options,” whether it’s selling to investors that are looking to, you know, do a long-term rent and hold, looking at iBuyers that you can sell to.
And now you have these international funds that are coming in and just wanting to buy your whole portfolio. So you know, that’s what we see a lot of it’s not just the single family individual properties, but we see blocks of properties being bought up in a very specific markets. So you know, that it blows your mind when you see that much money on the sideline. I think that really when it gets to is that you know, Dallas, especially a lot of, you know, southeast and Midwest markets, they look so cheap and to outsiders where you look at Japanese money where they have negative interest rates right now, they have a massive exodus. So anything that gets a little bit of return is better than what they would do if they kept their money in their own country.
Mike: Yeah, exactly. So do you guys do match with portfolios? Because, you know, we talked about wholesalers, and other companies . . .
Mark: Yeah.
Mike: . . . using you as a conduit to sell on but it could also be renters that have a portfolio or maybe they have one or maybe they have 50. And they’re just like, “You know what, I’m going to start selling these things. And I don’t really want to fool with them anymore.” So you guys work with existing investors that want to sell one or many? And then how does that work if there are tenants in place for example?
Mark: Yeah, absolutely. So about 70% of all the deals that we do at Roofstock are institutional and portfolio. So you know, the way we’re selling a lot of individual properties, we call that our retail marketplace, and then we have this institutional marketplace. And if you go to our website, it’s roofstock.com, you can go under Buy and there’s individual properties and then you can look at portfolios. So the portfolios are not only for institutions, but there may be, you know, a 50 property portfolio that a seller in Atlanta, Georgia is looking to offload but they said, “Hey, I have financing in place, I need to sell this as a package deal. Otherwise I can’t individually you know, cherry pick and sell off properties.”
Mike: Right.
Mark: Or you could sell properties and do the cherry picking or just sell it as a retail package where you take 50 properties, you sell one by one because typically you’re not in a rush, you know, to sell these that are income producing. But if you’re looking for like a 1031 exchange type situation, you’re looking to upgrade into like multifamily. That’s what we do. So you’ll see property packages that are five properties. You’ll see ones that are 50. We just did a transaction that was 200 the other day, so you’re going to see all different levels. But if you list through us, we can broker those deals and find the buyers because we’ve mapped out all 16 million single family rental owners in the state and out of state.
So we know who’s in what area. And we’ll map out the portfolio. And we’ll zoom in on a map and know whether it’s invitation homes or any of the big clients that are buying there. Or it may be some small funds that just did some acquisition. So we kind of know who the players are in the markets, and we’re happy to help broker those deals. Typically the commission’s between like two or two and a half percent, you know, for our retail sales, we do two and a half percent, you know, just representing on the listing side. So it’s really affordable and it’s a great way to move properties if you’re in a situation where it makes the most sense to execute that way.
Mike: Yeah, that’s awesome. So Mark, real quick, talk a little bit about where you see technology evolving and then maybe kind of sprinkle in how investors can win. Because I think some investors feel like especially if you’re resistant to change, which you just can’t be right, you’re going to get left behind. But just you know, I think some investors question like, “Is this market going to become, you know, so efficient that I can’t make anything in the middle anymore?”
Mark: Yeah, well, technology is covering so many different ways of being able to identify properties, it’s better than having to go to the courthouse and pull newspapers, and lists and have somebody enter all that in for you. So, I mean, it’s just changed so dramatically where, you know, information so readily available from skip tracing. But you don’t find a lot of institutions taking that same boots on the ground approach, right. So they’re taking kind of a higher level, you know, “Let’s buy portfolios.” And especially at the institution level, they’re only looking at 100 properties or more at a time, right? So they’re not getting down to that one-off level. Driving for dollars. They’re not getting into that level. So I think there’s still a lot of room for the local “We buy houses of any type,” you know.
So I would say don’t let technology intimidate you and don’t let the iBuyers and guys that are doing their automated underwriting, you know, scare you off. They may be aggressive, but you know, stick to your model. Be smart with your pricing models and know that, you know, they may be losing a good amount of money per transaction, but their models are going to learn. But I don’t think that the machine isn’t going to be able to beat the smarts of the boots on the ground. So I want to say there’s companies like Remine, I don’t know if you’ve heard of them, Mike, but they did a guy named Mike DelPrete who’s like the iBuyer analyst, teamed up with Remine and they mapped out all the properties across the United States that are being acquired by iBuyers and it shows the progression from 2016 all the way to 2019. And it shows you what markets are moving into, you can zoom in on a map.
But now they have available every transaction that is acquired by an iBuyer. It shows you what they bought for and then what they flipped it for. So it may be worth, you know, sharing that is like part of the Investor Fuel network and saying, “Hey, we bought the data, we’re studying it, we’re providing that feedback to our investors.” It just so you know, where are they buying? How are they buying? How can I buy around that? And really, you know, create a model that’s adapting to the times rather than trying to compete with them.
Mike: Yeah, yeah, that’s interesting. Mark, great information. Would you mind you’ve been a member of the Investor Fuel Mastermind here for about six months or is it been nine?
Mark: We came to the event in San Diego in June so . . .
Mike: Okay, okay. So that’s the last kind of six months or so. So would you mind just maybe share a testimonial of what your . . . you’ve obviously been in the real estate space for 20 plus years, been around a lot of really smart people, maybe just share your experience as being a member of Investor Fuel.
Mark: Yeah, absolutely. You know, part of what I find most interesting is that, you know, a lot of people that come in they’re looking for something, right, and but they’re also in a vulnerable position where they want to not only ask for something, but they’re willing to give. So the ego is dropped at the door, and it’s noticeable. You know, you could say that all day long. But the people that walk in the door are truly there to help other people. And I think the openness is what’s most attracting to outsiders that you come in, you almost feel like you’re a part of a family, but every time you show up, which I’ve only been to two now, but that level of interaction is absolutely there. People make you feel comfortable, they want to learn about your business, they want to know what’s working, what’s not.
And then you just got to be ready for candid feedback. And if you’re not ready for it, or you have, you know, something that you’re not quite willing to face yourself, this group will help you face it. So, you know, be ready for the point blank feedback. And, you know, really, that’s the most valuable feedback because if you’re the boss of your own business, you know, who else is going to give that to you? So, you know, really look for that. And I think this will be something short term that you’ll find a lot of benefit in, but long term, you know, sky’s the limit of where you could go with it.
Mike: Awesome. Awesome. Thanks for that. So Mark, if folks want to learn more about Roofstock, obviously roofstock.com, they can go there. Anywhere else where they can go to like, kind of learn more about you or what you’re working on?
Mark: Yeah, find me on LinkedIn. You know, Mark Woodling is my name and, you know, find me on there. Go to Roofstock and learn more about, you know, I think some of the PR that we’ve had, whether in Wall Street Journal recently, all the way to like Gary Beasley, he’s our CEO. He’s had some really good runs on like CNBC, and Bloomberg, and Yahoo Finance, just recently. So we’re getting some great feedback from the market. There’s just a lot of interest because we’re trying new things out like fractionalized ownership of a single property, and how we can take that and sell off 10% shares at a time.
So there’s some cool stuff going on and kind of testing the market a little bit to see if we can kind of break down the barriers of liquidity, which is always kind of the hard part with real estate, you know, how to transact and do it easily. So we’re testing out stuff. And that’s a good way to learn about what we’re doing and a little bit about me.
Mike: Awesome. Awesome. Hey, thanks for thanks for sharing this information with us today. I think this is really helpful stuff. I think it’s a great, you know, what you’re doing is a great tool for people to help, you know, basically do more profitable deals that they might be kind of signing off quickly now, and maybe even do some deals that they’re passing on right now because they don’t really see a clear exit strategy, and they’re not really sure what you guys do, so cool stuff.
Mark: Absolutely, and if anybody’s ever in Dallas wants to stop by our office, we’re downtown. I’m in our speakeasy right now, so it’s a good place to do business. And come by, we’ll get a drink and yeah, anybody in the Fuel family if you ever need anything, just open advice or, you know, more info, just holler and let me know.
Mike: Awesome, awesome. Everybody, thanks for joining us today. We’ve been doing the Investor Fuel show now for I guess for most of this year of 2019. Hard to believe, we’re coming up on 2020 here already, Mark, right?
Mark: Yeah.
Mike: But we’re getting some great traction. We’ve had a lot of great guests on this. They’re always members of the Investor Fuel Mastermind, and people that I get to surround myself with, too. So if you haven’t checked out the Investor Fuel Mastermind yet, we’d encourage you to do that. Go to investorfuel.com and you can learn more. You probably know a bunch of our members already if you’re watching the show. So we’ve got a great group of people. We’d love to you talk about being a part of the family. For the rest of you, we’ll see you on the next episode.
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