How to Network with Chat Saramiento-Steinwald and Princess Escoto-Roque

Episode 81 of the Diary of an Apartment Investor Podcast with Chat Saramiento-Steinwald and Princess Escoto-Roque, hosted by Brian Briscoe. Transcript by – please forgive any errors.

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Brian Briscoe 0:00

Princess' we got Chat on the line here. What do you want to ask her?

Princess Escoto-Roque 0:02

Do you recommend that I network with other women who are like me in the beginning stages of their career or tried to connect with more experienced operators like yourself

Chat Saramiento-Steinwald 0:14

both because there's a need for you to, to talk to new commerce as well because you can sort of like compare notes. And there's also a need for you to to align yourself with the seasoned investors and very successful investors because you want to have a goal to be one of them in the future.

Brian Briscoe 0:43

Welcome to the Diary of an Apartment Investor Podcast with your host Brian Briscoe. In this podcast we bring some of the top professionals in the apartment investment field to discuss various aspects of the apartment investing journey, with the sole purpose of educating listeners to make wise investment decisions. The Diary of an Apartment Investor podcast is sponsored by Four Oaks Capital, bringing you high yield returns through apartment complex investing. This is journal entry number 81. And part of our Ask the Expert series today we're speaking with experienced investor Chat Saramiento-Steinwald and aspiring investor breeches. Scotto people listening for tips on how to be deliberate with relationships, what to focus on during networking and challenges faced when raising capital. Before we get to today's episode, I want to talk about something that we have coming up every month usually on the third Monday of the month, we hold a webinar where we bring in a professional in the multifamily business and we talk about certain aspects of real estate. This month we're bringing in Julie Peterson from old capital lending, and she's going to talk all about funding your next real estate deal. For more information, head over to our website, diary of apartment investor calm. And check out the Upcoming Events tab. One a shortcut, just go to the show notes. And at the very top, we're gonna have a link to it. And now the show. Welcome to the diary of an apartment investor podcast. I'm your host, Brian Briscoe, with forex capital. I'm super excited for today's show. It's one of our Ask the Expert episodes, we have two amazing people on the line with us, you know a woman with a tonne of experience in real estate Chat Saramiento-Steinwald and a very motivated aspiring investor Princess Escoto-Roque. So first chat was born and raised in the Philippines and migrated to the US at age 24. Just a brief overview, she worked as an accountant, a spa owner, and a commercial real estate where she's been a limited partner in over 1000 units and a general partner in over 400. She's also a founder of a woman's mastermind called multifamily women's mastermind, and is a world traveller and involved in giving back through various charitable organisations. We'll put her full bio in the show notes, but I had to boil that down because she's done so many amazing things that you know, is really hard to put it all on the line here. But the full bio will be in the show notes. And that said, chat, welcome to the show.

Chat Saramiento-Steinwald 2:53

Thank you so much, Brian, what a nice introduction. Thank you so much. Appreciate it. And it's great to be here.

Brian Briscoe 3:00

Yeah, appreciate your time coming on the show. This is this is awesome, you and you mentioned, you know, just prior to hitting the record button that you and Princess are both from the Philippines, which is a nice connection that you guys have already. So you know, this is gonna be fun. So, let's start out by talking about you chat, you know, tell us a little bit about you, your background, your history, and, you know, kind of lead us into what got you into real estate.

Chat Saramiento-Steinwald 3:24

Um, I got into real estate, actually, Ryan by accident or not by accident, but by um, there was a need a great need for me to diversify my portfolio and also to have something like a passive income. where this happened when my husband passed, he was the finance guy, he, he took care of our finances. And so therefore, when I had that tragic loss, I had to take over and take a look at my finances. And that's when I realised that I really need to do something instead of just listening to my, you know, to my financial advisor or to my CPA, I more I want to have more control. And by having by wanting that, and by being able to do that I had to look for something where I can with my money where it can burn money where I have more control, and by having control, I had to educate myself in order for me to do that I had to educate myself and be totally immerse and in the real estate investing community.

Brian Briscoe 4:53

Yeah, that's that's a good point. And one of the one of the biggest differences between the different investments is you You know, pick a stock, like, I don't know, Coca Cola or Amazon. I mean, the only thing I can do to make Coca Cola do better is go out and buy more Coke, right? I mean, I'm on Amazon, you know, we do a lot of shopping on Amazon. So I'm doing my best to keep the Amazon shares going up. But, you know, I like what you said about the control you want is something where you had a little more control. And I think, for a lot of people, that's the appeal of real estate, is there is more control, you know, you can pick certain assets in certain areas, and you have a little more control a little more choice on which direction your your money is going to go.

Chat Saramiento-Steinwald 5:36

That is totally true. Also, you also have a control of what your asset criteria are. Number one to me is you people you're partnering with, you can't have that control with the stock portfolio. So therefore, I mean, not that I don't have that, I do have that on Amazon as well. So, um, but it's like, I feel like it's too far. For me to reach any kind of control with Amazon stops or, you know, Facebook stocks, versus an asset that I have in Dallas, for example, you know, and I know, the people that I align with, because I bet them myself, you know, so that's the type of control that I'm trying to rally and, and the asset criteria that I choose I, I stick with my acid criteria, and, you know, so that type of control that that's what I'm,

Brian Briscoe 6:37

yeah, and I yeah, that I think that resonates with a lot of people. And, and same for me, and it's one of those where, you know, I can't pick up the phone and call Jeff Bezos, you know. I just can't, you know, he's not number one, he's not going to answer number two, I'm not I'm gonna be able to get his phone number, probably. But, you know, end of the day, you know, we we put together small deals, and, you know, couple million dollars instead of, you know, like, you know, Amazon's a billion dollar company plus, but, you know, a couple million dollars, you know, and we're bringing in, you know, maybe 20 3040 investors in each one. And it's small enough where you can pick up the phone and call it to sponsor? Yes. And hey, hey, I just had a couple of questions on this. You know, matter of fact, I had a 30 minute call with one of our investors yesterday, because he had a couple unasked and unanswered questions before investing. And it's, it's accessible, you know, the the sponsors are accessible. I think that's, that's something you can absolutely do in this business is, you come up with your investing criteria, pick your team. And there you go. So well, good, good. So what you know, you say, an unfortunate event in your death, your husband got into real estate, what did you been doing prior to that?

Chat Saramiento-Steinwald 7:51

Well, I've been on the side doing, being an entrepreneur, I started I came in here and migrated from the Philippines. funny that you mentioned that princess happens to be from the Philippines also. And we've been trying to connect and from California, it's like, happened in podcast. But anyways, I was a trust accountant, accountant analyst from Philippine Airlines and migrated here, and then got a job as a trust accountant with Dun and Bradstreet for 11 years. When my son was growing up, I really needed to be proactive, raising my son because raising a kid here in Los Angeles is very, you know, there's challenging,

Brian Briscoe 8:35

I can imagine. Yeah.

Chat Saramiento-Steinwald 8:37

So, I, um, with the support of my husband, of course, I ended up opening up my own spa, fortunately, the where we lived, it's a very small community, but it's also where, you know, this is very LA or celebrities and the producers and so I didn't need to be a huge buyer. It was just a boutique spa where these people, the locals go, went, and so I was happy with that. So that's where the entrepreneur, entrepreneurship started for me. But then again, as I said, fast forward when my husband passed, I felt like it's time for me to focus on on my asset portfolio and to diversify it nice.

Brian Briscoe 9:27

Okay. Sure. You had the entrepreneur spirit, you you've already been a business owner for several years, obviously worked, you know, worked as an accountant for a while. What did you do to learn the business specifically?

Chat Saramiento-Steinwald 9:41

Because I told you, I didn't know anything. I knew that my husband was an investor here and there. I knew that he he did some investing in real estate and all that but I really didn't focus on on that but when he passed I knew also that real estate is where I'm gonna go and focus and study. So therefore I looked one day I was watching infomercial. So I watched these infomercials that, that make it sound so lucrative. Flipping. Yep. Single homes. Yeah. So I signed up for that it turned out to be fast forward, it turned out to be not good for me. I lost money on that one with the coaching that I had to sign for. By the time I know, I paid for coaching that I could not find whoever that guy is. And so, but I chalked that up to my cost for my investing my road to apartment investing, because you know what I found some books that I'm saying that to me at that seminar. I've met some people. And he told me about podcasts that I never knew about podcasts before. I never heard about podcasts before. So that's when I started listening to podcasts. And then I was scrolling one day, I was scrolling down for looking for a good podcast to learn while I'm driving. As you know, Los Angeles always traffic light. Good.

Brian Briscoe 11:16

Yeah. So I mean, some people would say, why are you doing that when you're driving, but when you're in Los Angeles, you're more likely in your car stung. So

Chat Saramiento-Steinwald 11:23

at least an hour special. Yeah. But yeah. So I looked into that, you know, I found this thing that said, lifetime cash flow. Cash Flow, that's what I want. Yeah. I click that. And it was Rob Lee. And he announced in there that in three days, we will be in Los Angeles, doing the boot camp and stuff. So I exited 405 call if there was a ticket. And so I signed about three days later, I found myself in the boot camp, and then the rest is history. Nice.

Brian Briscoe 12:04

Nice. That's awesome. So I also went to a rock leaf boot camp in Los Angeles. When was this?

Chat Saramiento-Steinwald 12:10

This was April 6 of 2018. Okay, I

Brian Briscoe 12:16

went I went about a year later. So okay. That was in LA x. chariton. Yes, yes. Last year, I'll tell you why you didn't meet me. You know, I haven't haven't told many people this, but I literally passed a kidney stone at that event. Oh my god. So I spent about half the event curled up in a ball on my hotel room bed thinking Should I call an ambulance? Should I get somebody to take me to invert? Ah, yeah, so um, so not many people, you know that the very first day I was there an active and you know, Saturday, you're right around lunchtime till Sunday, when when everything wrapped up. It wasn't until Sunday around lunchtime. That actually felt better. But my gosh, yeah. So but you know, it was it was great. It was still a good event. You know, I don't I don't regret anything at all. I did meet Well, yeah, I did meet a couple people there that I'm still in contact with. A couple of people that I met there have been on my podcast couple of have invested passively with us. You know, so definitely still a good event. But, man, you know, I wish I could rewind in my mind, you know, get back to that same spot and you go find you, you say Right, yeah. So that's that's cool. So So yeah, you heard that lifetime podcast with rod Cleef. You went to his event? Did you sign up for coaching? Or did you just do the boot camp and strike out on your own?

Chat Saramiento-Steinwald 13:47

Oh, in the beginning, I did not want to sign up for coaching because I got burned for 20 something $1,000

Brian Briscoe 13:53

Oh, I understand that

Chat Saramiento-Steinwald 13:55

coaching so I but as I got to know them that the whole team that's that's when I started getting the coaching and mentorship through Radcliffe's team. And it really made a big difference because Radcliffe's a bootcamp I don't know if you didn't miss it. Oh, you missed it or not, but it is big in mindset. Yes. mindset was a shift in my mindset really, really propelled me in this apartment investing because I was just I just went in there fearful. And because of this shift in mindset, I was able to get over the fear and any challenges that I thought and any stories that I created in my mind,

Brian Briscoe 14:45

you know, that that's interesting. You say that, you know, I was not so roughly his podcast. I mean, he's got two types of episodes. You know, one is a mindset focused one. And several years ago, you know, I got locked on to his podcast too. So I started listening to rock Michael plunk and Joe fairless. Those are the three that I listened to, almost on a daily basis. Yeah, I used to skip over that mindset podcast every single time. But looking back at it, I realised that I have had a couple of very large, you know, mindset shifts that have enabled everything. And I've started to realise that, you know, I've had a lot of limiting beliefs that have have kept me from progressing. But I've also started realising that the power of your mindset, you know, I mean, I used to kind of discount it like, yeah, your mindset doesn't. I remember, I mean, this, this is kind of embarrassing. Now. I remember reading thinking go rich, you know, when I was in my 20s, I was just like, I didn't even finish the book. I read like the first couple, you know, first chapter like, this is bunch of garbage, you know, and just tuck it on a shelf and never pick it up. But yeah, I love the mindset

Chat Saramiento-Steinwald 15:57

overnights with your right, because not now that book resonates with you. Yeah,

Brian Briscoe 16:02

yeah, totally. Totally. So, yeah, you know, I love the mindset approach, he has, you know, I think Rob's a good person. And he's got a great, great platform that he's built in a great educational business. So we're good, good. And then so so from there, talk about, you know, how you got into your first first first deal, our first couple of deals.

Chat Saramiento-Steinwald 16:24

So the first deal is through rod because it rod Cliff had, at that point, I signed up for my mentorship or wedding. So once I signed up, I there was already like a rapport there was already, like, I already got to know the team, his wife to be who was the first person and his daughter, Alex, they were two people that approached me when I was very fearful on the very first day of my Bootcamp, but, um, once I got sort of, like, a little bit comfortable with that team, they offered to accredited investors, students, this deal, they, they were first deal in Dayton, Ohio, my first deal with them, Ohio. So what that was, was they allow their students coaching students to go and investors to go with them, fly with them, and, you know, learn, do some learn, do some due diligence and learn the business. And so I took advantage of that, I flew in there met him there, and it's amazing how spending time in aligning yourself with the right people and spending time and, and you feel good, right away, these these are good people or not. So that's when I said, I went there not thinking I'm going to invest, I was just going to go and take advantage of the, you know, to do the educational part portion of training, so, but then when I got there, I realised the property was really good. First of all, your analysis, analysis and to the team is definitely strong, and I felt comfortable. And, and number three, it's that I really need to take massive action, you know, like I said, got massive. Yeah. Oh, to me, I was gonna do the minimum. But then I said to myself, this is a very, very good property I need to so I did more three times more than the minimum requirement because and I had no, I have no regret up until now are asleep in bed, you know,

Brian Briscoe 18:59

and it's something that, you know, go back to our earlier conversation, you know, unlike coke or Amazon, I mean, you got a behind the scenes look on on the actual property itself on the team that's running it, you know, you don't get to sit in, you know, Apple's boardroom or Amazon's boardroom and and talk with people running the company, but in this case, you did, you know, and so, yeah, I think I'd be very comfortable at that point, you know, putting a lot more than you know, a big chunk of my money, my hard earned money into an investment as well. So well, good, good.

Chat Saramiento-Steinwald 19:35

It's, it's not always a guarantee that you'll feel that way with a team I because Fast Forward I've been going, you know, spending time with other teams, other syndicators, other operators. If if their principal and their goals and their You know, standard values don't align with my mind. It's best for me not to go there, because it's a matter of like, alignment with the right people and right partners.

Brian Briscoe 20:14

Yeah. You know, I've said, and I think most people in industry agree that if you want to invest with somebody, you should spend more time vetting the sponsor, then the actual deal, you know, and there, there are things, you have to like them, I mean, has to be somebody you like, first of all, and you know, whether it's personality issue or something else, if you don't like a deal sponsor, you can find other deals with somebody that you do, like, and somebody you feel comfortable picking up the phone and talking to somebody, you know, you might want to find someone else to invest with. So but yeah, I'm glad you're able to find somebody that you felt comfortable with somebody that aligned with your goals. And I mean, that that's, it's vitally important in this business. Very important. Yes. Nice. So, so you got some experience under your belt? Now, let's talk a little bit about your GP and 400 units. Can you talk a little bit about that?

Chat Saramiento-Steinwald 21:09

Yeah, um, a couple of them are in Georgia, and what the latest one was in Houston, Houston, Texas. And so I, the the I Am the investor relations, because nowadays, if you raise money for you don't just raise money, you have had some apart? You know, you have some are all AM.

Brian Briscoe 21:38

Yeah, yeah, you have to follow sec regulations, you know, you get you get an exemption from the SEC, and you have to have more than just you can bring, you can't just bring capital to the business, you have to have other roles in the company. Correct. So

Chat Saramiento-Steinwald 21:54

you have to be a part of the team and everything a month, every, every week, weekly meetings and all that. So but yeah, I'm, that's, that's my nice again, right there. That's how I went to the GP opportunity because I'm in in, in syndication, or in any kind of apartment, partnership, deal partnership, you always have to offer what your strength is what what your value is in the team. And I know that that is the value that I can bring in. Yeah, that's where that's right.

Brian Briscoe 22:33

Yeah, that's a very important role in any any syndication. You know, it's, I think every syndicators ultimate goal is to keep the investors you know, it's, it's one of those, we plan on being in the syndication business for a long time, you know, so the people who have invested us with, with us in the past, what we want is for them to be so happy, you know, once once we come full circle and sell an asset, and, you know, we give them their principal back, and we give them, you know, a big chunk of money on top of that, we want them to say, hey, Brian, what do you got next for me? You know, that's, that's, that's, I think, the ultimate goal with with each investor on each property is, you know, you sell the property, return their principal, and they're just there, they're back with you. So, and the investor relation piece is very crucial. As far as that you have to be communicative. You have to make sure they understand what's going on with the property, and parent and nurture the relationship. Yeah, absolutely. Absolutely. Well, let's, let's talk a little bit about your big burning. Why, what's your motivation for I mean, you talked a little bit about it throughout but if we can distil it down to you know, you know, one one or two sentences what's what's your big burning why

Chat Saramiento-Steinwald 23:49

my big burning why right now obviously changed from when I just said my god to now legacy and also, you know, um, wealth preservation. So I have to think about retirements of freedom and and lifestyle that I want during my retirement I'm I just turned 60 Brian, so therefore, I have to think about my retirement I have to be able to live a lifestyle that I still I have now without having to worry financially and and without having to worry about when's my my pension gonna come or something, you know, and be able to see the world because that I love to travel and be philanthropy. philanthropist.

Brian Briscoe 24:44

Yeah, that's great. That's great

Chat Saramiento-Steinwald 24:47

projects in the Philippines that I you know, and to offer to Nigerians that I'd love to help when I'm able to. Alright, great. Great.

Brian Briscoe 24:57

So last question for you. Before we bring princess on what's next for you?

Chat Saramiento-Steinwald 25:02

What's next? For me, I'm still looking for a deal. I have three deals that I'm analysing right now. Still diversifying my portfolio, but also just just taking the gap opportunities that will come and JV opportunities. And that's it. And it's it's an exciting year.

Brian Briscoe 25:25

Oh, it certainly is certainly as I think 2020 one's going to be, you know, a year for the record books for a lot of people. So great. Well, hey, thanks so much for sharing your story. And we're gonna switch gears a little bit and bring princess on and Princess. Yeah. Give you a little intro to Princess. She's an industrial engineer with expertise in business planning. She's worked in that field for almost nine years in the manufacturing industry. She's skilled in planning, reviewing, and developing production procedures, development, implementation and control functions in production floor. She's also a licenced real estate agent inserted her real estate investing journey in 2018. I should have skills in business planning and communication skills to customer give her advantage in the real estate industry as an asset manager. And I would imagine, you know, with your skills, you know, maybe the investment management role might be something you could take on too. But yeah, that's really up to you. But that said, Princess, welcome to the show.

Princess Escoto-Roque 26:21

I'm Brian, thanks so much for having me.

Brian Briscoe 26:24

Yeah, this is awesome. And, you know, we, we've been trying to connect a couple of times to I think, just just kind of fun. Not fun. But I think we had scheduled two separate podcast episodes, and the other guest cancelled both times. So I think I've had you scheduled more than any other single person. So yeah, it's very good. Very great to finally get you on the show. But that said, let's, let's learn a little bit more about you. Can you tell us a little about your your background and your history?

Princess Escoto-Roque 26:55

Yeah, thank you so much. Like you said, you know, we had a couple of challenges, but I'm so glad that I connected right now with chat, some yendo, which we had been we had a plan of like meeting before, but tjuta Kobe, we need to kind of like folks postpone it until, you know, we get the green light. But yeah, so like you mentioned we are, we are both from the Philippines. I was born and raised in the Philippines and migrated here in 2015. And I've been working in a corporate world practising my profession as an industrial engineer, and for nearly a decade now. So like I mentioned nine years ago, like last year. So I started as a marketing specialist for IBM and later transitioned to fully practice as an industrial engineer in manufacturing industry, so such as Yokohama tire, Philippines, and Texas instrument all the way back in the Philippines as well. Okay. So when I immigrated here in the US, I shifted to food manufacturing industry, where I started in McCormick, and then moved to a high pressure processing company. in Winter Park, still in Orange County, and now back to food manufacturing company, which is called a simpler fresh, but had been recently or last year was recently acquired by Lakeview farms from Ohio. So I'm responsible mostly for business planning in my field where I need to satisfy the company's goal in most efficient and low cost operations, while also meeting clients satisfaction. I started my real estate investing journey, you know, just to jump back to jump to the real estate right now. So in the year of 2019, actually, when my husband came back from conference from Brad some rocks in March, but I got my real estate licence in 2018. So he told me about this newfound secret that we can spend more time together. And to tell you what my husband also attended the rod Cleves event last year, so

but I wasn't

Brian Briscoe 29:09

wrong there. So yeah,

Princess Escoto-Roque 29:12

so it's a small world. So he's a real store. I'm sorry, we're real tour focused and residential, meaning working also even on weekends. And while I work on my daily job, on a nine to five, you know, as a business planner, in the manufacturing industry, so my husband and I love to travel and we always just want to explore new new places and create new memories together. So when he told me about this multifamily, I was excited, but also sceptical, you know, asking him Can you even do that? You know, is that even possible? You know, unlike Chat, I don't really have that much information about two. And I don't I am not seeking any diversification in my on my folio on my, you know, on my portfolio. So and he said, yeah, it is So I just sat down and had conversations with this people. Were doing it and we're successful. And there's another conference in three months that we should visit. And I said, Yeah, okay, cool. You know, let's do it. Come on, bring it on. You know, if it means like, more more time for us, then yeah, let's do it. But little did I know that the tickets are a little pricey, you know, then what I was thinking. Yeah. And another thing is, I don't know a lot about multifamily. And this is where I can relate most of Chad's experience to me. Because I asked him, like, how can we feet? And how can we fit in if somebody started asking about us, you know, our background in our experience in multifamily. And that's when he introduced me to podcasts like BiggerPockets and Michael Blanc to prepare and educate ourselves and discuss our goals and what we should expect from this event. You know, so it's just like, chat. I never heard of podcasts. Yeah, they turn out great. And when you don't, you know, when you don't have time to sit down and read a book, and you know, just driving, especially here in LA, all you have to do is drive.

Brian Briscoe 31:13

Yeah, yeah, I, you know, and I, I first started listening to podcasts when I read about it in a book, you know, it was like, I read a book on multifamily. And I said, Hey, for more information, check out these podcasts, you know, and I did a lot of driving in San Diego. And let me rephrase that go back. I did a lot of sitting in my car in San Diego, you know, not not a whole lot of driving. But a lot of time spent in the car just listening to podcasts? And, you know, I think it was, it was enlightening in a lot of ways. It really got me thinking about the possibilities, and seeing other people who did it, you know, seeing hearing the success stories of people who have, you know, gone from, you know, doing your little single family homes, like me to, you know, big giant apartment buildings. You know, I think that was, that was really fun to hear. And it kind of made it more real for me. But

Princess Escoto-Roque 32:03

yeah, so fast forward to the event, you know, oh, yeah. Yeah. Like I like I said, you know, we were excited, but nervous as well, just to continue to tell you what, it's a little intimidating to talk to this high net worth people. And, and also, since there's not that many woman in that event, yeah. And for sure, you you notice that because I know that you were there, because we were connected through uova. app. Yeah. You were one of those, like people that are kind of starting some conversations and, you know, commenting on those, and we don't know what to ask them or how to start a conversation, you know, but I always see is people trying to connect to other people learning that and learning that they've made their first deal or first partnership through these events? And I'm sure you can relate, because you're, you know, ferox Capital head, I know, was originated from one of those countries.

Brian Briscoe 32:59

We Yeah, we that was that was the first conference that we were there. As for x capital. You know, we'd all been to previous conferences, but, you know, I went to the previous conferences, just Brian brisco. You know, but yeah, that was, that was a fun one. That was I mean, you're talking with the Dallas Dallas one with Michael Blanc, I think in 2019. That was that was a good conference. Yeah, that was a lot of fun.

Princess Escoto-Roque 33:21

Yeah, so you know, just we went with the flow and fast forward we signed up for a coaching programme to help us fast track our success and to answer your question for my big burning y is before we decided to get on board on this new wave of real estate investors, we already outlined the reason why we are doing this, you know, basically for my for our family, and to create, if not generational wealth, but at least kind of like a little saving for future children. But we didn't know that our greatest y would be more clear after the event because when we realised that we were pregnant with our daughter Yeah, so everything remember that we feel as for her and you know, hopefully help others as well to create this generational wealth in the future. Yeah,

Brian Briscoe 34:09

yeah. I'm sure we probably met at the event and once again, I wish I could rewind the whole thing in my mind and and see you guys together but I do remember you know, seeing you and ratio ratio more in you know, a lot of the the other you know, it's kind of spin off events and networking events that that we've we've had since But yeah, I think that's that's that's a fun story. You know, your, your future children, your future children and Whoa, hey, futures gonna be here in about eight months. I know. Yeah, that's, that's great. So tell you what, let's get to the point to where I say, Princess, we got Chad on the line here. What do you want to ask her? Yeah, so

Princess Escoto-Roque 34:48

I follow chat on facebook a lot and saw one of her posts closing a deal, you know, in Houston with all woman operators. And I always, I'm always amazed and inspired whenever women in this city In this reclusive field, so my question is, how did you guys connect with all this awesome and woman? Were you all part of the same network or connected through different investors or operators? Oh,

Chat Saramiento-Steinwald 35:13

that's a great question. Um, for instance, when you you mentioned when you attend boot camps, and you network meetups and all that you meet these same people. Fortunately with me, I met these people from boot camps. And also they belong to my women's mastermind group, which is the, you know, you're a member there, too. So, I co founded this women's mastermind group with Candace bow, Grant Grimm. And Michelle upheld. So because they belong there, the networking was a lot easier. And because also, I decided to be totally immersed in real estate, I made sure I'm very, very intentional, that I meet somebody, or the good people in in every boot camp, or in every meet up that I go to. So therefore, that's how I met them. And, you know, you create a rapport, build trust, and then eventually, when they have a deal, they ask, you know, and the opportunity comes, and I grab the opportunity, sometimes you have to be at the right place at the right time as well. But, again, networking, your network is your net worth. So they say, it's very true, you have to be very intentional in creating your relationship with other investors, because they come to you or you go to them, and it will be just easy. It's just a matter of phone call, it's just a matter of email, and business relationships happens like this.

Brian Briscoe 37:07

Yeah. You know, it's one of those where you never know, when you first meet somebody, you know, how far that relationships gonna go? You know, I didn't know that the first time I talked to you, the first person from the current folks that I talked to was Eric, surely, you know, and I didn't know in that first communication, had no idea of knowing, you know, how far that would go. But yeah, I also saw the same post. And, you know, you're absolutely right, it's Princess, it's, it's not often you see a entire GP or general partnership, that's, you know, all women in this industry, it's a very male dominated industry. And, you know, I think, times are changing a little bit, I think, there, there's a lot of networks that are focused on just women. And I think in the future, you're gonna see a lot more, a lot more women in this space, at least, I hope, we'll see a lot more women and women in the space.

Princess Escoto-Roque 37:58

Yeah, and I actually love that idea that more, you know, more mentors, mentorship programme are actually opening this industry for women as well, which is with with the last conference that we just attended to, which is back in July. So I'm, that's when I kind of like, started all to network with all this people. So I try talking about expanding the networks of my next question is chat, you know, especially trying to connect with other woman in the industry. Do you recommend that I network with other women who are like me in the beginning stages of their career? Or tried to connect with more experienced operators like yourself?

Chat Saramiento-Steinwald 38:42

i? That's a great question, as well as a question as well, but I tend to network both in with both. Because there's a need for you to, to talk to new commerce as well, because you can sort of like compare notes. And there's also a need for you to, to align yourself with the seasoned investors and very successful investors because you want to have a goal to be one of them in the future. And also, just to let you know, this multifamily investing space is a very, very generous space. Everyone's very giving, and everyone's very helpful. Male or female,

Brian Briscoe 39:26

you know, it's it's almost one of those things where I think several years ago, my first conference, I walked in, looked around, and I realised that there were almost zero women in the room and the ones who were there. were basically saying, I'm here because my husband may become, you know, was Well, that was that was kind of the mindset of my first one. So it's, it's there, there's different mentalities. And what I've noticed is, you know, obviously, there's difference between men and women, but, you know, a lot of the men in this business tend to get down to business quick And women tend to be, you know, more nurturing and caring. And I think that appeals to a lot more people, you know, so you can get the best of both best of both worlds by, by doing that, and each each person has, you know, isn't going to naturally appeal to a certain type. And when you bring multiple people into the deal, you know, you're more likely to connect, you're more likely to have, you know, business connections with other people and be able to raise capital from from certain groups of people. So, yeah, whether whether it's, you know, diversity through, you know, gender or through, you know, race or ethnicity. I think diversity does bring a lot to the table. Yeah,

Princess Escoto-Roque 40:40

you're That's correct. And as for my last question, to chat, you know, I know you focus on capital racing, and what are the challenges you experienced in raising capital before? And did any of those had been more challenging in COVID? times?

Chat Saramiento-Steinwald 40:59

Great question. It's been very challenging for me, to be honest with you to start with, because the contacts that I, I had, were from my husband, my husband was a forensic CPA. So he had a CPA firm. So those were my contacts. And then I had a spa where all these rich ladies that I could contact, but mostly from my husband's side of the business, they didn't look at me as a serious business person. They they never did. And they were actually, I actually got condescending comments, you know, that oh, my God, they thought I was going crazy. I'm investing in apartment What? What is that out of state out of Los Angeles. That's craziness. Oh, my gosh, especially those la people. But now, thankfully, I've proven myself, I will listen to what my heart says, I did what I needed to do. And now they're slowly coming back. The high net worth individuals that used to, you know, now they're saying, When are you going to have a deal? When are you going to have the deal? When, and I'm the one that's like, I don't have a deal. Now. COVID it's a different story. Because I thought for sure in when I got this Houston deal, I thought it was a slam dunk. I thought I was gonna raise money, a million easy, you know, but the the women that the friends that I thought would easily give me 500k or something. They did not. It's like, I'm just gonna wait because I'm this COVID you know, the, it's the fear of the unknown. How do you change the mindset of these people? You can't, you can't so I had a hard time raising money in it happened. But it was more work. I thought it was like, easy, high net worth individual, you know, connection. But more work. But um, you know, you just have to educate them. You just have to slowly but you can't be pushy, either. You know, if they tell you of their fears, be very sensitive to that back off, you'll find investors in other places, you know?

Brian Briscoe 43:20

Yeah, yeah. You know, and something, a couple of things you said there that are interesting. You know, I'm active duty marine. And when I started approaching my friends who I thought were, you know, of course, he's going to invest. You know, the first question I got was, hurt you a marine? What's this apartment thing? Yeah. You know, and I think that happens to a lot of people. Now, I've heard chat, I've heard a lot more women say what you've said, then then then that where I think there's also the gender bias that plays into that, as well. So, you probably had a little harder time than I did overcoming that, but I had to change my image with everybody else, you know, I had to make sure people knew me as Brian, the apartment investor, and not Brian, the Marine, you know, and so, after hearing that from several people, you know, or to a Marine, wait, wait, wait, didn't Did you retire? Are you still active duty or what it was, you know, after hearing that several times, I made sure that I was a little more deliberate about my image. And you know, my my Facebook and my LinkedIn profiles, all of a sudden said apartment investor instead of Marine Corps officer, you know, and whatnot, but I found that I had to change my image, you know, what other people thought of me before people were comfortable investing with me. And, you know, I've come full circle where I get, you know, several people per week reaching out to me from, you know, previous duty stations, previous jobs who are like, hey, Brian, I got questions. And you seem to know A lot about real estate, you know. So I think that's a definite part of it. One of one of the biggest struggles I had to was just getting getting crossed that what other people think of you threshold and making sure that I can control that image. So you

Chat Saramiento-Steinwald 45:17

are right there. I'm Brian, because also the channels that I got also was because I approached these women, and they would say, Oh, yeah, let me invest. And then let me just talk to my husband. Once they did that, they come back to me and said, my husband says no, because like, they they, it that's a challenge. It's a, it's a gender specific problem, because they go to their husband, and it's like, why you're investing your money. We chat. Are you kidding me? Nah, no.

Brian Briscoe 45:50

Yeah. You know, and on the flip side, you know, what's more, there's definitely a gender bias in this. You know, most of men who come to us and say, I need to run this by my wife. I mean, it almost I mean, it's almost never a problem. You know, I don't think I've had one person who comes in who came back and said, my wife says, No, um, but yeah, there's, there's definitely issues with that, that, you know, I think we're getting to a point to where it's, it's different societies, you know, progressing in that direction. But there's, there's a huge untapped market of, you know, women that are able to invest in apartments, you know, and that's, that's something that it's a lot easier for another woman to capitalise on, but

Princess Escoto-Roque 46:37

and to add on that to, you know, chat, we actually started talking through Facebook, because she actually reached out to me thinking that I'm, you know, that I was an accredited investor. And, and lucky in I mean, unlucky for me, because I will, I'm just starting in I really doesn't have that high network, you know, people. So I was able to say, am I mean, I mentioned to her, like, really, I'm sorry, you know, I don't have that much, you know, network with me right now to help you with your deal. So, but I'm happy that we stay connected after that.

Chat Saramiento-Steinwald 47:12

Yeah, you just have to reach out to people, the like minded people. So yeah, you just have to be creative also on how to network yourself and go out there. And, you know,

Brian Briscoe 47:29

yeah, and, yeah, going, going back to what I just said, I mean, you have to be able to know who you naturally attract. And then figure out the way it is to keep on getting yourself in front of those people, you know, so obviously, you have to be able to find the people that have money to invest, you know, so, you know, figure be creative, I love that you got to be creative, you got to think of more and more ways to you get a bigger and a bigger megaphone, you know, so to speak, where you can, you know, a platform where more and more people can, can hear your message and potentially come and be part of your fold. And you'll get better at it, which is the nice part, you know, you keep on keep on persisting, you keep on doing things, and you'll, you'll eventually, you know, you'll look back three years from now at this moment and say, Wow, you know,

Chat Saramiento-Steinwald 48:19

and also Brian, and Princess, it's also as a mindset shift also on how you present yourself, because I refuse to be considered a salesperson, I'm not a salesperson, I'm giving the opportunity to have a good investment, whoever my friends are my family, you know, if you, if you don't want it, other people can get it, it's a great investment I'm sharing with you. It's true, it's true, you're not selling them, you're giving them opportunity to invest with you, because you want their money to you want them to experience what you're experiencing, because you're doing really well with your investment. Right. So you're excited to share with them. That's how that's how I never, I never really intended to be raising money, but because of that, I saw the opportunity of helping others in giving them the opportunity to invest and share my experience with them. So that is where you should come up with coming from man, you know,

Brian Briscoe 49:32

you know, and that that was a mind shift set that I had to make, um, you know, it's sometimes you come across as maybe a little desperate if you're trying to get people to invest with you, you know, if you're thinking, yeah, I need you to do me a favour and give me some of your money so that this, this works out, you know, but not one asking favour your favour, you're giving them an opportunity. And, you know, I had to go through that mindset. Myself, and it was about the same time where I had to start realising everybody knows me as the Marine, it was, you know, those two things kind of came together at the same time. And, you know, once I, once I rounded that corner, things were amazingly easier. You know, it was just a lot of mindset. A lot of it was just my confidence level was different. But anyway, that said, we're, you know, out of time, one last question for each of you, and chat You go first, how can our listeners learn more about you?

Chat Saramiento-Steinwald 50:31

I'm very active. I'm very visible in my Facebook and my Instagram chats are those fine? Well, that's the best platform where you can reach me All right, and we'll have links to your your profiles in the show notes. Princess same question for you. how

Brian Briscoe 50:47

can listeners learn more about you?

Princess Escoto-Roque 50:49

Yeah, I'm very active on Facebook as well and on LinkedIn, but also you can reach me or learn more about me by visiting our website at WWE that brick stone investment or you can send me an email Princess's Thanks.

Brian Briscoe 51:07

Yeah, and Brookstone Investment Group website, you should have my picture on that page. I think you guys still do raise your bar? Yes, yes. Yes. So I've been I've been networking with you in Russia for quite a while now. But, you know, happy to help in any way that that I can on any deal you guys have. So, you know, go to her website just to see my picture if you want. I mean, but there's a lot of other better stuff to look at anyway. Anyway, this was a lot of fun. You know, thank you, both of you for coming on the show. I think it was a great conversation. I enjoyed it. And that's a wrap.

Thank you for listening to the divergent apartment investor podcast today brought to you by four oaks capital. If you'd like to know more about how to invest in apartment buildings or want to be a guest on our show, visit our website at four oaks capital comm slash podcasts or email us directly. If you're still listening, you obviously like the show. So pull out your phone, tap, subscribe, and leave us a five star rating on your favourite podcast app. And we'll see you again next week.

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