HEATHER EWING: The CRE RUNdown

Ep. 28 Andrew Stimson - Fitness to Real Estate... Your "Why" will Carry You

• Heather Ewing, CCIM • Season 1 • Episode 28

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What if aligning your business ventures with your personal values could lead you to unparalleled success and fulfillment? Join us on the CRE Rundown as we chat with Andrew Stimson, the visionary founder of Elevating Talents. Andrew opens up about his journey in the commercial real estate industry, sharing invaluable insights on partnering with experienced pros and the essential due diligence needed for fruitful investments. From the growing demand in the build-to-rent sector to the nuanced challenges in today's market, Andrew gives a masterclass on navigating the real estate landscape. More than just business, he emphasizes the importance of harmonizing your professional ambitions with your personal mission, reflecting on how his commitment to financial freedom and family time has shaped his career.

Discover the intricate world of build-to-rent real estate development, from acquiring land to collaborating with local governments and managing infrastructure. Andrew dives into the factors fuelling this sector's growth and how understanding your "why" can lead to a more fulfilling life. His unique journey—from college basketball to the fitness industry and finally, commercial real estate—illustrates the power of a purposeful mindset. Listen in for Andrew's inspiring weekly poems and learn how intention can sustain joy and energy, even through life's mundane tasks. Connect with Andrew on LinkedIn for more inspiring content and practical advice.

Heather Ewing, CCIM:

Thank you for joining us on Heather Ewing, the CRE Rundown. I am your host, heather Ewing, and today I am so happy to share with you. I have Andrew Stimson. He is the founder of Elevating Talents, andrew. Thanks for having me on Heather.

Andrew Stimson:

It's a pleasure to talk to you some face to face.

Heather Ewing, CCIM:

Definitely so. We connected through one of the LinkedIn challenges a while back, so it's been nice to connect that way and learn more about you. For my guests that haven't had that privilege yet, can you share a little bit more about yourself and your business?

Andrew Stimson:

Yeah yeah, so yeah, thanks again for having me on and Elevating Talents is a pretty new business. I started it in January of 2023. And my focus is I'm really focusing on providing opportunities for investors to elevate their talents or their finances, their money and so I've got different options that people and opportunities for people to take advantage of where they can get double digit returns back by real estate, and I've really focused in the built to rent sector for the last year and a half and partnered with a really experienced general partner lead syndicator that's been doing it for 20 plus years and so that was a big focus of mine. Before really getting into this, I want to find someone who's been there done that, really experienced.

Andrew Stimson:

especially, I got into this at a pretty tough time in the cycle of where commercial real estate is, and so partnering with someone who's got loads of experience and seeing the time we're at now was really important to me.

Heather Ewing, CCIM:

And I think that's a really important point to highlight, because you see a lot of people on LinkedIn in a lot of different areas that I'll just say they're the wild cowboys, whether it's male or female. They're just going out and shooting from the hip and to me, I've never understood that, especially when I see it as each person's due diligence to find the right partners, to reach out and to create those mentorship opportunities, like you did. That way, you can speak with authority, you can know you are fully aligned, you are helping someone in the right way and you're not going to have lessons learned that then equate to someone losing money. So I think that's totally the way to go.

Andrew Stimson:

Yeah, you're someone who mentors a lot of people and it's so valuable to have that experience of lessons learned that even let's say you're underwriting a property. What all are you taking into account? And you don't know what you don't know. And so when you have a team that is doing that, then when insurance skyrockets and interest rates skyrocket, you're ready, and it's not because you're not being overly aggressive in your underwriting, just as one example.

Andrew Stimson:

But, yeah, it's for me, certainly experiencing small business and leadership in that level, but being newer in commercial real estate, it was just, it was a non-negotiable for me to get to know people, which I primarily did through a mastermind, and it was which is where I met many people that have been there and done that and have helped me learn and grow, Um, but also just getting to know people for a while and not just having one good conversation and being like all right, let's do this you know, but getting to know each other over a longer period of time and, um, just to make sure you know what you're getting into.

Andrew Stimson:

Partnership is a beautiful thing, uh, but it's's also there's a lot of responsibility with it, and it's a it's a privilege to have that responsibility. But you got to understand that before you get into it.

Heather Ewing, CCIM:

I agree completely and I think it's. It's creating that framework and I think anyone that is looking for a quick fix or quick flash of money, they're going to be sadly disappointed. And also, I think, when people actually do come through money in that really quick infusion, that typically they're not able to retain it. And I think, because it's such a different mindset and with anything sales related investments, it really is like you illustrated it's the long-term game and it's aligning not only based on niche but also values, and I think that's something that you know, I've always admired about you as well, as you definitely have your values and you're clear on that.

Andrew Stimson:

Yeah, that's, that's you know. That's really the starting point of getting to the why of why I do what I'm doing. And, yes, I want to provide great opportunities for investors to increase the money they can make in their investments and to have it be something I really believe in like commercial real estate, even like commercial real estate, but it's like well, why what?

Andrew Stimson:

is that going to do for a person? And what I see is I see one thing that financial freedom can bring is back. And but more than anything is how can this support or magnify what my mission is in life and what my main mission is in life and for me it's I'm. Faith is really important. I'm a follower of Jesus, and my main mission in life, you know I've got I'm loving God and loving people as I'm living life and making disciples of Jesus and one thing that that requires is time, and it can take a lot of time, and so, uh, that's one of my big driving points personally is is you know?

Andrew Stimson:

do I want to reach financial freedom Absolutely and I want to have more time to spend with my wife and my children to do those things in my community and but I also want that for others and like you said, it doesn't happen overnight.

Andrew Stimson:

It's going to take time, but you got to get started somewhere and then just stack it year after year, and when you do that long enough, consistently enough, it will produce. And so that's the joy of's, the joy of it, and kind of of what, what I see, you know, and with that, with that, like right, I'm married. Let's see, we'll be going on 14 years next month, that's wonderful. Congratulations, thank you, four kids. Congratulations, thank you, four kids, six and under three girls and a boy.

Andrew Stimson:

And you're busy, you're busy. Now my wife. I call her Wonder Woman.

Heather Ewing, CCIM:

She's, I would too, yeah, she's unbelievable.

Andrew Stimson:

And so. But having Having that is like OK for me. Yes, I want to get to financial freedom, but what am I? Willing to sacrifice to do that and if I chase, that as fast as I can, then my kids are all going to be gone before I'm there.

Andrew Stimson:

And it's like well, what was the point? I want to have time with them and I want to be very present in their life, and so each person is different. What's your big why? Is why you want maybe more time, freedom and whatever that is. I just really believe this is a great vehicle to help get there and and so that's. But that's a little bit of the kind of why. In the mastermind I joined, that was a common theme.

Andrew Stimson:

It was folks from all over the country, but it was the thing that most had in common was it was faith-based and that was sort of a value that that pretty much everyone held, and so that was kind of. You know, there's so many good masterminds out there and good mentor programs, but that was kind of what drew me to that particular one you know, about a year before I started Elevating Talents.

Heather Ewing, CCIM:

Right. Well, and I think the nice thing about it too is I'm part of a mastermind as well and you'll notice a common theme right amongst people that are getting the support they need, the mentorship, some of these different facets of it's a really nice way to connect, you know, like you said, through faith or whatever. The common point is in addition to the real estate, and then you get to build upon that and I think too, just knowing that you have people you can pick up the phone and know that you're going to have someone that truly does care, that is looking out over the years too, is when people are clear on their why they're able to move much quicker. But it's also through a group and it makes sense, right. If you have a fuzzy goal, you don't really know what you're pursuing and you don't have your benchmarks, and with that clarity you're able to move more quickly. It also feels a lot better.

Heather Ewing, CCIM:

But I like your point too, andrew, that it's in taking that time for family and other values, because you can move really quick but then you won't, if you want to say, have the essence of life, of time with your family, of time with loved ones, to fulfilling some of those heart-centered things, whether it's spiritual, you know, or what it whatever it is in nature, and I think that's a really important point. I know, when I started abstract four years ago, I was just focusing, going hard, and then it's like you realize you know what things can change in a heart. You know second, and you want to make sure you have that time with family. But it's easy to not know what to do when you're starting a brand new venture. So that's also where, as that support and the mentors and masterminds came in, it was extremely helpful.

Andrew Stimson:

Yeah, and it's. It is such a big commercial real estate investing. It's a big business and there are a lot of moving parts and dynamics and partnership. I love partnership. Partnership gets a bad name a lot in our world, but I think it's a good thing and one thing that you often hear is never partner with family.

Andrew Stimson:

I like to partner with family. I believe that it's not always easy, but I believe these things can be redeemed and that there's good in it. And also if it's in a good partnership, you know, and one example would be, you have complimentary strengths and you can both live in your sweet spot, but this business, you have to have partnership because it's just too big to do it on your own. And that's the other thing I really love about it is that dynamic.

Andrew Stimson:

It's a very not me focused at least in my circles that have been around us. It's not a me focused industry. There's a lot of people that want to do good and have a really good heart in what they're doing, and it's been fun, it's been really neat to see that, because that's you don't. You don't see that everywhere.

Heather Ewing, CCIM:

No, that's true, and I think it's also. I think people have worked so hard to get where they have that I've I've noticed that as well. Hard to get where they have that, I've noticed that as well too. People seem very open, very warm to take a phone call, even if you don't know them. You know what I mean.

Heather Ewing, CCIM:

To help you with a certain aspect or will connect you and that really is a gift and I think it's one of those. A lot of times, people, you have to learn this skill in commercial real estate but I think, before people are in it for very long, it's kind of like a mindset of solo, solo, solo, and then, to your point, they realize how vast it is, how much there is and how frequently all of those deals I've done over the years and each there's, there's commonalities, but there's a lot of interesting twists and turns and ways of strategizing and working that out in your numbers and the agreement itself. So it's it's the long game partnership.

Andrew Stimson:

For sure, for sure.

Heather Ewing, CCIM:

So now jumping on, how do you see the market shifting and changing? Right, we're, we're in 2024. Each year kind of has its own unique peculiarities. It's something that you're you're focusing on in the market.

Andrew Stimson:

Yes.

Andrew Stimson:

So one thing in the built to rent sector that we look at and are is, you know, it starts with purchasing land.

Andrew Stimson:

Typically, I mean, you can start at different stages, but we've started at purchasing land and so finding places like we have we are right now, have investments and developments in the South and Louisiana and Alabama at the moment, but and part of that is that ability to buy land a little bit less expensive than some other places, and so that's certainly been a focus of ours as well.

Andrew Stimson:

As you know, with built to rent, you've got three stages you buy the land and then you get all the land ready for development, and that's the part where you're working with local government and there's a lot of moving parts, and having someone on your team that's experienced in that, that can really connect with the local municipalities, is huge. And then you have the horizontal infrastructure. You're building out roads and sewers and getting everything ready for the vertical build where you're actually building the homes, and so you know a couple of things that really speak to it. One of them is just the housing shortage. Depending on who you talk to, you know three to four million homes were short right now, and there's a lot of factors for that one uh new builds is down you know, after the the last big market crash.

Andrew Stimson:

You know, 08, 09 it the development game changed and and I think that's one thing that's that has really impacted it as well as the another is just the rising gap between owning and renting. You know it's, it's it's maybe never been higher to to own versus rent, and so it's pushing people, especially a lot of millennials that would be entering, you know, home purchasing market. Their weight waiting, with interest rates about doubling through the last couple of years, it's harder for them to find a home they can afford, so they end up just renting, and so all those things, those are a couple of dynamics that are really pushing into it. So finding markets that have some job diversity, there is some growth, market growth is certainly important.

Andrew Stimson:

But I think those big ones which also support multifamily apartments investing really do build to rent as well.

Heather Ewing, CCIM:

What would you recommend for someone that's interested in getting into the arena? What's maybe one or two things that they could, you know a resource they could look into, something online, or what are a couple tips you'd have for?

Andrew Stimson:

them content around build to rent you know, development. Any investment has risks and I think, development. There are some areas that it has more risk. In some, I think, it's more just unknown, and so I think education is the first point to really getting into understanding the asset class, all the risks that there are, and then ways to mitigate it, and so that's a big part. Is just that first?

Heather Ewing, CCIM:

getting educated and learning.

Andrew Stimson:

One of the best ways that I would advocate is LinkedIn, and I write five days a week on LinkedIn. One or two days a week are about built to rent every week, and there's lots of people on there that do that. And so there's a lot of these asset classes. There's certainly crossover. If you're talking built to rent, you're talking retail, you're talking industrial multifamily. But they also have very unique parts of them that you want to get to know.

Andrew Stimson:

And so that'd be the first thing is is learning more consuming podcasts like your own, where where you are it's just learning, because I think it uncovers when you learn more, sometimes the fear of getting started or investing it gets reduced because there's less that's unknown, and so that's for sure. The first part is just finding that and consuming content that's around it.

Heather Ewing, CCIM:

Perfect, and I'd say you hit it on the head is, typically people have overwhelm because they don't know where to begin, and that's where I say too you know, between different networking groups, different investors, different online resources. Youtube is one large search engine and I've used it for so many simple things. Even you know within my business that, whether it's SEO this, that or the other thing, until you have the right person in place to do it for you, that you can really find out everything. So those are great resources. My final I know you write great poems. Where can people find these poems?

Andrew Stimson:

Andrew. Well right now they all live on LinkedIn.

Heather Ewing, CCIM:

And so every.

Andrew Stimson:

Wednesday typically it's at 7.30. My post goes out either at 7.30 in the morning central standard time or 630. Wednesday, the poem's usually at 730. It's all around, abundant life and what is abundant life?

Heather Ewing, CCIM:

And I think abundant life is.

Andrew Stimson:

there's lots of definitions for people. The first for me is I mean, jesus said that I have come to give you life, and life abundant. And abundance can it be monetary? Certainly, but it's so much more to that. And living abundantly on all of our journeys is a huge goal of me and something I really want to inspire people to do, and so a lot of times I'll take, I'll take a story, often from from the bible, uh, about a character in it and and sort of tell the story in poetic form and then at the end typically tie in, like you know, my take on it and and how it relates to abundant life.

Andrew Stimson:

And so maybe someday there'll be a book of these poems, but right now they all live on LinkedIn.

Heather Ewing, CCIM:

A coffee table book, just planting a seed. It would be a great holiday thing right, yeah, yeah, it's good. Well, and that ties in perfectly, because I always like to end each podcast with my question of how do you live fully? And I would say you read my mind on that and are tying it right in, but with that question, is there anything else you want to add to it?

Andrew Stimson:

Yeah, I think Not not to get too deep on you. I love to go really deep. I'm also really really really silly people that know me so I kind of do both extremes. But I think to live fully, you've got to really undercover your why and you know, why am I here and what am I doing here? And it's a really big question and um, but I think it it leads so much in life is is that purpose, what's my purpose? And then, living fully, I think it's more about how you do whatever you do you know, uh, some people.

Andrew Stimson:

They'll ask me you know I've done. I've done different things. Basketball was a huge part of my life.

Heather Ewing, CCIM:

I played in college right, I grew up on a.

Andrew Stimson:

I'm in commercial real estate now. 10 years of my life was in the fitness industry. I've done different things, but my why carried through all of those things and you know I've also. I've also picked up dog poop on the farm and I've I've done I've pulled weeds in the garden. Whatever the case may be, I've felt content in those different things and I think that's really possible. No matter what you're doing, how you do it and what your purpose is can carry you through all of it and give you joy and energy. We're all humans, so we have ups and downs, but it can really give you joy and energy and drive as you go through life.

Heather Ewing, CCIM:

I agree completely. It comes down to mindset, right, and that's where, with your illustration of no matter what you might be doing, whether it's the simple mundane, not so exciting to the glamorous big deals that it's all the mindset and the intention that you utilize towards it so well. Andrew, thank you so much for joining me today, and I know my guests are going to want to reach out, so I will include your LinkedIn after this video, and thank you so much for joining us.

Andrew Stimson:

Thanks so much for having me heather blessings.