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DARINGAR 319-350-53
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I’m Putting My Son to Work!
WHY I BELIEVE IN SWEATING FOR THE FAMILY BUSINESS
When my son Isaiah came to me three years ago and asked if he could join the family business, I think he probably imagined I’d give him a cushy office next to mine. Maybe he pictured a desk he could sit behind while he pulled down a nice salary! That isn’t what happened. Instead of passing over a set of keys to the kingdom, I said, “Great!” and handed him a list of grunt work. Don’t get me wrong — I’m proud Isaiah is working for Heartland Investment Partners, just like me and his older sister, Madisen. But the way I see it, going to school for multifamily real estate investment (like Isaiah is doing) isn’t enough to qualify you for a management position. To really learn this business, you have to master the nitty gritty stuff and figure out how things work from the bottom up. So, for the last three years, Isaiah has been doing all the maintenance chores around our properties. That includes everything from cleaning toilets and painting walls to picking up garbage, sweeping up hallways, and scrubbing
properties in the heartland deserve to work with people who know what they’re doing. That’s why before Madisen became a regional manager for
out units to get them ready to rent. He tears out old water heaters, swaps them with new ones, and takes orders from Josh, our maintenance supervisor. By now, you might be thinking, “Darin, what kind of way is that to treat your own kid?!” But I think this is the best thing for Isaiah AND for the business. If he wants to work his way up to a management position and actually be successful — which is exactly what his sister did — he needs to start from the bottom, learn how and why we do the things we do, and find out he isn’t above that grunt work.
me, she worked as a leasing agent AND spent two years managing one of our United States Department of Housing and Urban Development (HUD) properties. Talk about trial by fire — a HUD property is definitely a challenge! I’m proud of the hard work Isaiah has put in here during his college breaks over the last three years. He takes it more seriously than 99% of other 20-somethings would. But you don’t have to take my word for it! I recently had him on the “Heartland Multi-Family Show” as a special guest to talk about his experience. If you haven’t
By now, you might be thinking, ‘Darin, what kind of way is that to treat your own kid?!’ But I think this is the best thing for Isaiah AND for the business.
If Isaiah stays with Heartland long-term and gets that office, he’ll need to know our maintenance process to make high-level decisions. It’s great that he’ll come in with a college degree, but that doesn’t make him an expert in on-the- ground issues. You know what does? Actually WORKING on the ground.
already listened to or watched the episode on YouTube, scan the QR code on this page to check it out. You might learn a thing or two about what it’s REALLY like to be a multifamily property investor. –Darin Garman
Ultimately, this comes down to the fact that I don’t think handing things to your kids is right. Investors who invest their money into multifamily
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DON’T BE ‘STARRY’-EYED ABOUT YOUR STRATEGY Rebranding the Right Way
In early 2023, Pepsi shocked the public by rebranding its lemon-lime soda Sierra Mist as Starry. Though the move raised eyebrows and spawned jokes, the success of the company’s rebranding strategy remains to be seen. Rebranding is always tricky and opens you up to the wrong kind of attention. So, if you’re considering it for your business, how do you ensure you get the right reactions? Companies rebrand for many reasons. Many do so after flagging sales to revitalize interest or reach a new market. Others rebrand to reflect a significant change in the business, like an acquisition or considerable shift in products or services. Rebranding is also a tried-and-true method for companies to move on from bad publicity. But rebranding is more than renaming your business — in fact, you don’t necessarily need to rename your business at all. Rebranding is more than a new company name, updated logo, or website. It’s about your business’s identity and overall strategy for the future.
“feeling” like it’s time for a change is not enough. Ask what you’re hoping to accomplish, then consider whether you need to rebrand to achieve it. Your brand may just need a “facelift” with a tweaked logo, new company colors, or a refreshed social media presence. If you’re committed to rebranding, do it with clear eyes and an awareness of how your efforts could go wrong. One famous example was Tropicana (also owned by PepsiCo) in 2009. The company replaced its instantly recognizable image of a straw in an orange with a generic picture of a glass of orange juice. Consumers felt it cheapened the product — and some even had trouble finding it. Tropicana quickly switched back to its old packaging, but it was a $50 million mistake. Rebranding is a balancing act between refreshing your image and retaining the elements that made your company successful in the first place. Business leaders should strongly consider hiring a rebranding expert who understands the risks before beginning an overhaul. It’s essential to understand your current customer base and target market. Otherwise, you could alienate both — and all your money, time, and effort could fall flat.
Since rebranding is not a quick fix, every business owner should evaluate their reasons for wanting to rebrand before making the leap. Simply
The Best Way to Get Started Investing in Apartment Communities
IDENTIFY YOUR GOALS Where do you want to be in one, three, five, and 10 years? Be realistic here but stretch out of your comfort zone. Do not say you want to invest $100,000 and retire next year. It’s not going to happen, but you would not have to wait 30 years, either. Again, take some time to identify your financial goals. Are you more interested in monthly cash flow or making large capital gains from a property? Given the time frames, your goals will change. What do you want your personal Income Statement and Balance Sheet to look like? By starting out with some education, deciding what kind of investor you want to be, and then identifying your financial goals, you will be much further ahead than if you just call up a broker and start looking at properties. Many investors try to skip these steps and end up wasting a lot of time or, even worse, getting into a property that cannot help them reach their financial goals. Lastly, another great resource is my podcast. If you are not listening in, you ARE missing out. You can get my latest episode or past episodes at my website, DarinGarman.com. –Darin
Over the years, I have heard from many investors who want to get started investing in apartment buildings. And for good reason — apartment complexes are one of the best types of real estate to invest in for many reasons, and among them are:
There are many great books and courses available specifically designed to help beginning investors get started with their education in the multifamily arena. Simply do some searches on the internet or at your local library and get started with your education. I cannot emphasize this enough. I would recommend downloading one or all of my books (at no cost) at DarinGarman.com. DECIDE WHETHER YOU WANT TO BE AN ACTIVE INVESTOR OR PASSIVE INVESTOR Make the decision whether you will start out as an Active or a Passive Investor. Here is what I mean:
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Purchased correctly, multifamily properties will do well no matter what the economy is doing. They provide a stream of income in the form of cash flow. They will be in demand from renters for years to come.
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I could keep going, but there are many reasons why apartments will outperform other real estate investments, and in a down economy, more people shift toward renting than buying, so multifamily properties actually benefit when the economy is down. Investors are quickly realizing this and want to know the best way to get started investing in apartment complexes. Here are a couple of ideas to help get you started. START WITH SOME BASIC EDUCATION We all start out at the same level: with the basics. Make your initial investment in yourself and your education before you go looking at properties.
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Active Investor — Actively involved from A to Z with their properties and the day-to-day management Passive Investor — NOT involved in the day- to-day management of their properties
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Take some time and really decide, given the amount of spare time you have, whether you want to actively manage your property or work with someone else who will take care of the day- to-day property management activities.
There is no right or wrong answer here — just be truthful with yourself.
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SUDOKU
Iowa Is On e of America ’s ‘Best‑Run’
States!
SOLUTION
t Place to r Money
The Perfec Invest You
Darin has known for years that Iowa is both a beautiful place to live and a stable place to invest. Sure, our home state has a reputation for housing nothing but corn fields and hogs — but so what! Here at Heartland, we see the word “boring” as a positive because it means “safe!” Now, you no longer need to take our word for it that Iowa is a secure, well-run, and comfortable place to buy real estate. While digging through old files, Darin found proof. According to USA Today, Iowa is one of the “best-run” states in the country. In fact, it has ranked No. 3 out of all 50 states several times over! That’s great news for everyone investing in the heartland. To decide which states made the top three, 24/7 Wall St. compiled data on each state’s economic indicators, budget allocations, balance sheets, and social factors. They pulled those numbers from private and public sources (think the U.S. Census Bureau and The Pew Charitable Trusts) and compared the data state by state. Ultimately, Iowa came out near the top of the heap, beating out the flashier states like New York and California. According to USA Today, Iowa made the cut in one particular year because of its healthy job market, low unemployment numbers, and fantastic unemployment benefits and insurance. The publication also reported that “Iowa is also one of the most fiscally responsible states in the country. While across all states, average state government debt amounts to 52.2% of total state tax revenue, Iowa’s debt load amounts to just 26.1% — one of the smallest shares in the country.” When it comes to investing, where you invest is almost as important as what you invest in. Is your money invested in multifamily properties in a state as secure and fiscally conservative as Iowa? If not, it may be time to reconsider your portfolio.
T SALES
APARTMEN
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32 UNITS - CEDAR RAPIDS CLOSED!
24 UNITS - CEDAR RAPIDS CLOSED!
42 UNITS - CEDAR RAPIDS APARTMENTS PROPERTIES - SOLD!
CONTACT DARIN TODAY AT 319-350-5378 FOR MORE INFORMATION ON THESE LISTINGS!
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HEARTLAND INVESTMENT COMPANIES
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Darin Garman: Heartland’s Most Trusted Multi-Family Investment Advisor 2505 Silver Oak Trail Marion, IA 52302 DarinGarman.com 319-350-5378
INSIDE Page 1 Meet Darin’s Son, Isaiah
Page 2 Rebranding: Are You ‘Starry’-Eyed?
Get Started Investing in Apartment Communities!
Page 3 A New Reason to Invest in Iowa
Apartment Sales and Success
Page 4 Host an Unforgettable Murder Mystery Dinner
The Best Way to Celebrate Mystery Month
HOST A MURDER MYSTERY DINNER!
Did you know May is Mystery Month? There are dozens of ways to celebrate this enigmatic occasion, from playing Clue to rewatching “Glass Onion” — but why not bring those experiences to life and host your own murder mystery dinner at home? Thanks to a plethora of kits on the market, doing so is easier than ever! WHAT IS A MURDER MYSTERY DINNER? A murder mystery dinner is essentially a real-life game of Clue. You invite friends over for dinner and turn your home into the set of “Knives Out” — without the blood, of course. Each of your friends takes on the persona of a character in the story, and when one of them is “murdered,” you compete to uncover who dunnit. STEP 1: PICK YOUR KIT. Planning a murder mystery dinner from scratch would take the ingenuity of Sir Arthur Conan Doyle. Luckily, you have several ready-made mysteries to choose from! You can find boxes
from Masters of Mystery and My Mystery Party at your local board game store, but you can find many options available online, too. Night of Mystery ( NightOfMystery.com ), for example, sells both in-person and virtual kits with themes ranging from ‘80s prom to Christmas homicide. If your friends and family don’t like the idea of acting and dressing up, that’s okay — you can still solve a mystery over dinner! Look into kits available through Unsolved Case Files ( UnsolvedCaseFiles.com ) or Hunt A Killer ( Shop.HuntAKiller.com ), which involve collaborative mystery-solving without the character work. STEP 2: CURATE YOUR GUEST LIST. Most murder mystery dinners require at least four people, while some include characters for six, eight, or more! Check the number of players on your kit and invite your most creative, analytical, theatrical, and mystery-loving friends.
STEP 3: DECORATE AND PLAN THE MENU. If you choose a themed murder mystery, level up your event with a matching menu and decor! For games taking place in England, whip up a shepherd’s pie and make a cardboard cutout of Big Ben. For Havana Nights, plan a build-your- own Cubano bar and throw on an Afro-Cuban playlist. You can be as over-the-top as you like. Remember, it’s Mystery Month!
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MAKE SURE YOU DO NOT MAKE ANY ONE OF THESE MISTAKES THAT CAN COST YOU HUNDREDS OF THOUSANDS OF DOLLARS!
MISTAKE #5 YOU FIND OUT WHO TO LISTEN TOO / SAVE THOUSANDS BY SEPARATING THE REAL FROM THE B.S. MISTAKE #1 YOU HAVE TO KNOW THIS ONE THING ABOUT THE BUYER MISTAKE #3 WHAT ONE THING CANNOT BE IN THE PURCHASE AGREEMENT!! MISTAKE #2 HOW TO REALLY HANDLE APPRAISALS AND INSPECTIONS
SEVEN MISTAKES TO AVOID WHEN SELLING YOUR APARTMENTS IN 2023!! ———————————
These Apartments Were Recently SOLD With My Help In Making Sure The None of These Seven Deadly Selling Mistakes Took Place! To Get Your FREE REPORT and AVOID THESE
SEVEN MISTAKES YOURSELF GO TO: www.iowalandlordtools.com
MP HERE Don ’ t Waste All Of Your Hard Work!
• AND MORE!
HEARTLAND MULTI-FAMILY COMPANIES
1350 BOYSON ROAD A-1 HIAWATHA, IA 52233
Get your Free Report Now:
WWW.IOWALANDLORDTOOLS.COM CALL / EMAIL Darin Garman, HEARTLAND’S APARTMENT ADVISOR! #319-350-5378 DARIN@HEARTLANDINVESTMENTPARTNERS.COM
DISCLAIMER: **COURSES ARE MEANT FOR INFORMATIONAL USE AND PURPOSES ONLY. THERE IS NO WARRANTY OR GUARANTY OF COURSE PERFORMANCE ANDOR INVESTOR PERFORMANCE SINCE THIS IS BASED ON THE TIME, EFFORT AND ENERGY OF THE PURCHASER. NO WARRANTIES IMPLIED OR GUARANTEED.
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