The Fastest Way To Build A Six Or Even… Seven Figure Real Estate EMPIRE!
Even in uncertain economic times like the ones we’re living in, people will always pay for three things: food, clothing, and shelter.
What does this mean for you? It’s simple: right now, multifamily real estate is still one of the safest assets you can invest in.
Today’s guest, Greg Lyons, knows this as well as anyone. He and his brother are licensed capital raisers through their company, Cityside Capital. He also has his own podcast, Passive Income Brothers, where he focuses on how people can become passive real estate investors.
In our conversation, you’ll learn what it takes to raise capital for multifamily and self-storage deals. You’ll also learn how he became a licensed capital raiser and what kind of opportunities he’s been able to create for himself.
We then discuss the 77-unit condo project in Boise that Greg built half of at the right time–and what happened when he built the other half at the exact wrong time.
Key Takeaways with Greg Lyons
- What’s on Greg’s radar right now when it comes to investment opportunities–and why people are still so hungry for multifamily real estate, even in more bearish markets.
- Why inflation in the United States is creating a nation of renters–and why this bodes so well for multifamily investors.
- The process for becoming a licensed capital raiser and why Greg and his brother went that route.
- Why Greg got licensed and how he taps into “daydream investors” to create opportunities for people who otherwise don’t have the time to invest.
- What Greg learned by building condos in Boise in 2007 and 2008–and how he got involved in real estate again after the Great Recession.
- Greg’s favorite books, podcasts, and thinkers to help you better understand the market and find deals.
Greg Lyons Tweetables
- Cityside Capital
- Passive Income Brothers Podcast
- Charles Schwab
- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
- Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail
- Best Ever Conference
- Rich Dad’s CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom
- Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones
- Peter Schiff
- Keith Weinhold
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Josh Cantwell: Hey, guys. In this episode of Accelerated Investor, I’m interviewing Greg Lyons. Greg started Cityside Capital about two years ago and he is a licensed capital raiser. Okay. A lot of guys do syndication or code syndication. Greg and his brother actually became licensed capital raisers, so they actually park their license in a registered broker-dealer, and they’ve been involved in numerous projects strictly raising capital. And in this interview, you’re going to find out, number one, what it takes to raise capital for real estate investment deals, including multifamily apartments and self-storage. Number two, you’ll also learn about the process to become a licensed capital raiser, if you want to go that route and sit in that seat in the multifamily kind of sphere, the multifamily opportunities. You’re also going to find out, number three, about Greg’s first condo project, a 77-unit that they built in Boise, Idaho, a 77-unit condo project that they built half of it at the right time and the other half of it at the exact wrong time. You’re also going to find out about renter nation and why the United States is becoming renter nation, and why does that bode well for multifamily real estate and self-storage. Guys, you’re going to love this interview with the CEO of Cityside Capital, Greg Lyons and me, Josh Cantwell. Thanks for being here. Here we go.
Josh Cantwell: So, hey, Greg, welcome to Accelerated Investor. How are you?
Greg Lyons: Josh, I’m doing fantastic and really looking forward to our conversation today.
Josh Cantwell: Absolutely. So, Greg, what’s going on with the market today? Let’s talk a little bit about what’s up. You’re hearing things in the marketplace about interest rates going up. You know, the Fed is talking about maybe a quarter-point, maybe a half a point. You’re seeing some articles out there talking about possibly five and six and seven Federal Reserve interest rate hikes. So, I’m curious what you’re doing to kind of navigate the marketplace and curious to see what kind of projects you guys are working on right now.
Greg Lyons: Yeah. Josh, again, thanks for having me on. And in Q1 of 2022 here, where do we begin with the market? You know, the Fed’s coming out with the different interest rates. Inflation is still an in-your-face problem for most people, most investors. And really, right now, there’s a lot of uncertainty because the stock market just took a big hit. So, there are people kind of fleeing the stock market saying, “What else is there?” Cryptos kind of went down a little bit in recent weeks. So, the uncertainty is where do I put my money? Where’s the inflation hedge and what should I do right now? And I keep and you do as well, I keep going back to multifamily real estate because people take care of three things usually each month and that’s food, clothing, and apartments. And when they take care of that, they can start figuring things out for themselves after that.
Josh Cantwell: Right. Yeah, no doubt. No doubt. So, for you as a capital raiser and working with a broker-dealer and you’re looking at some of the various opportunities that are on your broker-dealer platform, if you are an investor, a passive investor or an owner-operator, obviously, those go hand in hand, what are some things to look for or look out for? Are people still bullish? Are your people still bullish? Are the deals on your platform still bullish for certain markets, certain population migration trends, certain job growth trends, and you’re bullish on those regardless of the stock market and regardless of interest rate hikes? Tell me about that.
Greg Lyons: Yeah. So, I take a little different bend on real estate because there are a million different ways to make money in real estate. And watching Freeland Ventures all these years and being so impressed with what you do as an operator has been really cool to watch. I take a little different then. My brother and I started Cityside Capital in 2020, and we are licensed capital raisers. So, like you said, we joined a broker-dealer. And what our broker-dealer does for us is he allows us to raise money for only certain deals that are on the platform but every single one of those deals are vetted by a third party, financials, legal. We do a site visit, market analysis, all that is done by a third party so it’s an extra layer of protection for our investors. And I will tell you, again, first quarter of 2022, our investors are still hungry for multifamily and we also raised for self-storage as well. And there’s definitely an appetite to have their money working for them, especially in these crazy times. Don’t really know where the stock market’s going. So, we are seeing a lot of interest. We just closed out a deal in Austin, Texas. We still have a self-storage fund that we’re raising for, and the conversations are always around, “How can I get involved?”
Josh Cantwell: Yeah, no doubt. People are really looking at, look, you look at some of the worst times that we’ve had for multifamily, specifically 2008, 2009, and 2010, and multifamily in apartments went down like everything else went down. It was a global financial crisis. But it went down to about 11%, depending on where you get your numbers from, anywhere between 9% to 13%. Stock market’s down 50%. Residential housing is down 33%. Bankruptcies left and right. Governments bailing out. You know, Lehman Brothers goes bankrupt and all the others get bailed out. And at the end of the day, multifamily goes down just around 10%. So, kind of regardless of what happens here going forward, I think it’s a safe haven, right? Inflation hedge, inflation goes up, rents typically go up. So, even if cap rates go up, values come down. You know, there’s a lot of value there in the increasing rents. So, Greg, I’m curious, with that being said, what types of deals are hitting the platform? What types of deals are getting through the vetting process, the third-party vetting process? What types of deals do you typically raise for? Help me understand some of the mechanics and some of the things that you use to sell those deals to your investors.
Greg Lyons: Yeah. So, great question. The one thing that we’ve kind of learned with multifamily, as you alluded to 2008, a rough time but multifamily operators got through those times, right? With a little bit of a dip, you hold on and you did fine. What we’re seeing right now, though, is we’re creating a renter nation here in the United States with inflation. Interest rates are low but inflation is driving up asset prices. So, the first-time homebuyers having a really, really tough time coming up with that down payment, buying the house, that’s just kind of out of reach. So, with a renter nation becomes, “Hey, we’re about 4 million to 5 million units short of being able to house everyone in the United States. So, what we’re looking for typically on our end is a value add, a B or C class apartment complex in an A-location like I mentioned, Austin, Texas. Austin, Texas, is booming so they can’t build the apartments fast enough. But what the developers are doing and to make their projects pencil, they’re building A-Class properties with rents way above where the usual person, the office worker, security guard, restaurant worker, they can’t afford those rents. Where we’re seeing is we’re looking at the B and C class and saying, “Okay. This is in a great area with a couple of thousand dollars’ worth of improvements to each unit. We could raise rents sufficiently to hit our pro forma numbers but still be in that little sweet spot in the market that says, ‘Yeah, there’s a place for this apartment complex in Austin, Texas.’”
Josh Cantwell: Got it. Are there specific markets that you find right now that are just almost like, “Man, it checks the box. It’s got all the population migration, it’s got all the job growth numbers, it’s got the income, it’s got knowledgeable workers, it’s got universities, people that are coming out?” Like, in my markets, we’re primarily in the Midwest, although we have portfolios that we own in Atlanta and in Houston and Mobile, and in Oklahoma. Like, one of the markets that I love the most is Columbus, Ohio. I’m in Cleveland. It’s only an hour and 45 minutes south of me, so that’s convenient for me but Columbus operates like Austin, right? It’s growing like that. The largest semiconductor plant in the world is going into Columbus, much like some of the growth that you see technology-wise in Austin. So, are there certain markets or cities that you see on the platform more often where you’re like, “Yep, that checks the box. It’s got all the economic numbers. It’s just a matter of this is a B-Class deal that’s a value add?”
Greg Lyons: Yeah. So, Austin, Texas, was one that we just completed. A market that we love is Phoenix. And Phoenix for again, 2008, I think construction was a huge part of their economy. Now, they’ve diversified their economy wonderfully in Phoenix with education, health care, and they call it Silicon Desert now because Taiwan Semiconductor is coming in there, Apple, and Google have data centers there. Amazon is all over the place. So, that’s why we really love Phoenix because it’s a great job market. Rents are rising and it’s just a great place to be. So, Phoenix is a great place for us. A couple of places in Texas. Sarasota, Florida has been wonderful. Chattanooga, Tennessee. There are just some different places, different pockets where we’re seeing, “Hey, this can really work for an apartment building.”
Josh Cantwell: I love it. So, you and your brother are licensed capital raisers, right? So, I know a lot of guys that are either owner-operators of apartments. People label themselves as co-syndicators or they’re partnering but without a license, they’re raising money and they’re vetting deals and those types of things. You guys have gone the route of getting licensed and parking your license with a broker-dealer. Help me understand the mechanics of that and why did you go that route.
Greg Lyons: You know, we really became licensed so we could sleep well at night, number one. And number two, we thought it was a little more protection for our investors. Sleeping well at night comes down to if you were to raise money and bring money to an apartment deal and you get a percentage of the general partnership based on the amount of money you raised, in the SEC’s eyes that is against the rules. So, a lot of people do it, you know? But my brother and I said, “Hey, let’s build a business that we could sleep well at night.” So, we had to take tests, we had to pay the licensing fees, and all those different things. But really, after that, the main thing that drew us to get licensed was we have a third-party looking at all these deals. So, we’re not just taking the operator’s word for it. We’re not just taking mine and my brother’s word for it. We have professional third parties looking at all these deals. Again, so if I’m putting my money into these things, I feel good about it but I feel great putting my investors into those deals.
Josh Cantwell: I love it. So, tell me about the process of raising money. Is there any secret sauce or silver kind of bullet strategies that you guys are using to meet investors, recruit investors, and help them place their money? And obviously, you guys get compensated for that. How are you getting investors? And the reason why I ask, Greg, is I actually was a financial advisor. I was Series 6, 63, 65 licensed right out of college. I played college football. I got my wife in health license while I was still in college. Twenty-one years old, I actually became a financial advisor. Two years later, I became a fee-based financial advisor at 24 years old. So, I’m very aware of this whole broker-dealer world and I’m very aware of traditional investments because that’s what I was selling back then. And so, I’m curious to see what kind of strategies you’re using to meet new people, recruit new capital.
Greg Lyons: So, the main strategy is tell people what you do, period. We find that it’s been a little tougher in the pandemic because you’re not at the soccer field, you’re not out at different happy hours, you’re not doing these different things. But really telling people what you do is the most important thing because everyone wants to be involved in real estate and everyone has Realtor.com. Everyone has Zillow. They look at these different things. But what we really tap into is the daydream investor. We go to that person that says, “I’m a busy professional, lawyer, doctor, engineer. I don’t have enough time to be involved in real estate and to be a landlord, tenants, termites, and toilets. How can Cityside Capital help me get into real estate?” And those are the people that we go after, successful people that have a family, two cars, a couple of kids, a mortgage but they just don’t have the time. So, we tell people what we do and say, “Hey, this may be of interest to you. It may not be but this is how it works.” So, telling people what we do being on wonderful podcasts like yours, this is how we get the word out.
Josh Cantwell: Got it. Love it. So, as somebody learns about you and about Cityside Capital, help me understand the conversion process. Getting a lead or a prospect is one thing. Getting them familiar with you, your brother, Cityside Capital is a second kind of hurdle, right? Or a goal.
Greg Lyons: Absolutely.
Josh Cantwell: Third is then the deal, right? And oftentimes, like you said, you don’t necessarily know the operator but you have a third party vetting it out. So, there’s a couple, I guess, watershed waterfall kind of moments throughout the conversion process. Help me understand those moments. And what do you think it takes to be successful in converting somebody who kind of raises their hand maybe shows some interest to actually becoming a real investor who wires money?
Greg Lyons: Yes. You know, my brother and I like to say that we’re not really a real estate company. We’re more of an education company. If you go on our website, it’s filled with blogs about cash-on-cash return, what it means to be in a real estate syndication. So, we take our investors along on a journey, and sometimes it takes people six months, a year of reading our stuff, listening to our podcasts. We tell people to listen to other people’s podcasts like yours, just so they get familiar with the process. And only when they reach a certain level of education, right? Because they’re taking their hard-earned money and saying, “Yes, I want to give this to you,” but they need to be educated at some sort of level, right? And that’s what we help, we kind of help educate them through the process. At that point, when someone raises their hand and says, “Okay. What do you have for me?” And then we could start diving into deals and we start talking about markets and financial projections, why we think this is a good deal. And if those things start adding up, their education, if the deal starts making sense to them, if people can explain it to their spouse, they know what’s going on. They feel comfortable putting their money in.
So, again, it takes time, it takes education, and a comfort level but if you don’t do it, it’s how do you have your money working for you in this highly inflationary environment, right? You can keep it in the savings account and be “fine” or you can make your money work for you. And that’s where people say, “Hmm, that makes sense to me.”
Josh Cantwell: Yeah. Got it. Yeah. I love they used past deals too in the conversion process because like I just had a call today, brand new investor, never met him before. It was referred to me. I use my Calendly link so he signs up for a calendar meeting, which automatically produces a Zoom link. We jump on Zoom and he’s kind of introducing himself and telling me who he is. We connect the dots on how he got referred to me, and then I use two things. My audience kind of knows this but I just want to reiterate this. I use the SEC to my advantage by telling my investors that, “Look, the SEC requires that we have a prior existing relationship with our investors before they invest.” Now, Greg, that may not be the case if you’re a licensed capital raiser. You could probably present a deal today and they could just invest. If it’s 506(c), if it’s accredited, you could maybe just present them an offer they could invest. But I like to actually mention the fact that the SEC wants us to have a prior existing relationship kind of using more of the 506(b) strategy. And because people are like, “Oh, yeah, like I want to get to know who you are, Josh. I want to get to know your firm.” And then I say, “Look, you have to qualify to be able to invest in something like this.” So, now I completely change the leverage of, “Hey, you have the money and I need your money,” then I have no leverage versus, “You have money and you have nowhere to put it. And I’ve got the deals. But you, Mr. Investor, have to qualify to invest with us.” I’ve completely leveraged.
So, then I say, “Look, if you qualify, I’ve got to get to know you. I’ve got to ask your risk profile, what you’ve invested in the past, are you on crypto, cannabis, real estate, stocks, bonds, mutual funds? What do you invest in? Are you accredited? Who helps you make the investment decisions?” All these kinds of things I ask them, and because I’ve taken the time that extra 20 minutes or 30 minutes to ask all these questions, we’re building that relationship in the process. Then I also love to use past deals and say, “Look, if you understand how this deal is structured, cash-on-cash return, internal rate of return, the value-add process, the timeframe, the future deals are going to kind of look just like this. So, if I bring you an active opportunity, you’re probably not going to have a lot of questions because you already are familiar with the structure of these past deals.” So, those are my two main kind of silver bullet strategies that I use that seem to work really well.
Greg Lyons: You know, I really like that. On our end being licensed, we have people fill out a suitability questionnaire. Now, it takes about five minutes and it spits out a score if you’re a high risk, medium risk, or low risk. So, just like you, people have to qualify to get into these deals because it’s not just anyone that can get into them. You have to attain a certain level of understanding but also a certain financial level to get into these sort of things. We have a lot of calls just like you do, and we’ll listen to people sometimes and we’ll just say, “You know what, I don’t think we can help you for a variety of reasons.” But the main thing is everyone is different. So, it’s really not cookie-cutter. It’s so tailored to the individual. And just like you, we have to listen to people and see what their concerns are to see where we can be a problem-solver for them.
Josh Cantwell: Love it. It’s all in the relationship, right, because people invest one time. Even if they get a great return but they don’t feel like there’s a relationship, they might not come back versus if you invest in the relationship upfront, not only, well, hopefully, they will invest and get a great return but then typically, Greg, you probably experience this many times, they’re going to make an investment. It’s a very small investment in the grand scheme of their portfolio to kind of test the waters. And then after that first deal, second deal, they’re really going to open up the floodgates, if you will, if you do a good job with them. You know, I’ve got guys that are into us for well over $1 million, $2 million who started with a $50,000, $100,000 investment. So, it’s really important to focus on the relationship. And also, those guys are going to refer way more investors as well versus like, “Hey, okay, you’re accredited. You’re qualified. Great. Here’s an opportunity. Invest in it today.” Boom, they’re in. You move on to the next guy. It’s a very short-term thinking, I find, versus being able to do this over the long haul.
Greg Lyons: Yeah. That’s very transactional. And you could do transactions anywhere. You could do it on your Schwab account. You could do it at Robinhood. You could do it anywhere. But feeling good about the people you’re working with is far and away the best way to get referrals. It’s always great to get that monthly or quarterly hit in the bank account. That always feels good but it’s those relationships you make along the way I feel like really makes a difference.
Josh Cantwell: No doubt. Greg, tell me about your start in this. You are a basketball coach. I love to coach. I coach my kids’ club volleyball. You know, I love to coach. You say that you’re a recovering college basketball coach. Pretty funny. I know you had played at U of VA so huge Division 1 program and then you decided to get into this capital raising thing. You probably experienced some kind of start-up headaches like a lot of entrepreneurs do. So, let’s talk about that. Let’s talk about your entrepreneurial journey and how you got this thing kicked off and some challenges that you faced early on and how you overcame those.
Greg Lyons: Yeah. So, Josh, my brother and I grew up on Long Island, New York, and my little brother is a lieutenant in the FDNY right now. He’s still an active firefighter doing his thing. And you know, we’re pretty much the average Joes. I mean, nothing too special, middle class. I did have a talent playing basketball and I did get to go to the University of Virginia and play for the Wahoos. And when I say play, I really just had a uniform. I wasn’t much of a player but I had a really great seat for every game. And then after that, I was a college basketball coach, American University, South Carolina, then we had our first child, and things really changed for me. Like, when you have that first kid, the grind of the college basketball lifestyle was not for me. So, we said, “Hey, what do you want to do?” So, my wife and I left Washington, D.C., and we went to Boise, Idaho. Not your most natural progression but that’s okay. So, what we did was we built 77 condos. This was my first foray into real estate, partnered with my father-in-law and my brother-in-law, and we built 77 condos. We built them in two phases for safety. I mean, it was beautiful. And we started building them right around 2007. And then right around the end of 2007, we said, “This is going great. Let’s build phase two,” right as 2008’s hitting and the world starts kind of going kaput.
I saw the underside of the real estate industry there because during that time, the early 2000s building condos was a great way to make money, right? You sell these condos. It was great. It wasn’t that long-term strategy that kind of apartments and multifamily can give to you. So, seeing the underside of the real estate world really gave me, it kind of gave me pause, and it actually made us move out of Boise, and we relocated to Charlottesville, Virginia. So, I’ve been here for a while. The opportunity I felt was there to get back into real estate. You know, it took almost a decade off, and when my brother and I really started studying real estate, multifamily and self-storage just kept coming up and we said, “Okay. How can we get involved?” We have kids. My little brother has three kids. So, being an operator wasn’t in the cards. So, we decided, “Hey, we got into our first deal and we had to raise money.” And we raised money, not a lot, but it was the process that we loved so much about it. And to be a capital raiser and not so much an operator, you don’t make as much money being an operator, right, when you’re running the show. But we also have the time to meet investors, and that’s the part that we really love, sharing real estate and telling people the power of real estate has been the most fun. Eventually, will we have our own place? Maybe. But by kind of building out our network is really what it’s all about for us right now.
Josh Cantwell: Yeah, I love it. So, what kind of advice would you give other people who are seeking that? I know a lot of my followers and friends and podcast listeners, some of them want to actively be owner-operators. They think they can keep more equity that way. It’s also a lot more work. Ask me how I know. People will say, “Well, look, I like talking to people about multifamily and I like raising money.” Other people might say, “Look, I enjoy construction. I’m a general contractor.” There’s a million different roles they can play. So, what kind of advice would you give them as far as kind of selecting a role? What did you learn along the way about you selecting a role and if you had to do anything over or differently, what kind of advice would you give your former self as you were going through the process?
Greg Lyons: Yeah. You know, it comes down to just like our investors, the same person that wants to get into real estate, where are you in your life right now? Do you have all kids? Do you have some extra equity you can put to work? And then where are your talents? So, where are you in your life and what are your talents? If you can’t hang a picture in your house, you probably don’t want to be renovating apartment buildings. It’s probably not the best use of your time or your talent. However, find something you’re passionate about. And for my brother and I, it is talking about real estate. I am of the ilk that can’t hang a picture in our house. My wife does that. My wife is a wonderful residential realtor in Charlottesville, Virginia, Lisa Lyons, and God bless her, she puts up with a lot. But my gift is of gab and talking about real estate. That’s fun. I’m not a guy that people are going to run away from at the cocktail party because everyone wants to talk about real estate, right? Everyone thinks they’re a real estate investor. But that’s kind of where we thought our talents were. And more than anything about talking about real estate, my brother and I love connecting people.
So, we may have five calls in a day and we may play connector on four of those calls. Hey, you should really talk to so-and-so over here. This person’s doing that. You should be on that podcast or listen to this podcast. And making those connections, we may never get paid for something like that but paying it forward, having the abundance mentality is kind of what we’re all about. So, seeing other people succeed because of a relationship that we kind of form for someone, that’s giving us a lot of satisfaction along this journey.
Josh Cantwell: I love it. I love it. That’s fantastic advice, Greg. Thanks so much for that. So, a couple of questions, Greg, as we kind of wrap up here. I’m curious your desire to raise capital. Obviously, you have to have a good financial understanding of the markets. What kind of tools or resources, books, seminars, webinars, what do you recommend people research to get a better understanding of where the market’s going and just do a better job of kind of due diligence with their deals?
Greg Lyons: So, podcasts have been just a wonderful resource for me, the podcast that we’re on right now. I just started my own podcast, which is called The Passive Income Brothers, where we cover a lot of different topics. I listen to Peter Schiff. I listen to macroeconomic people, Keith Weinhold. BiggerPockets is kind of where I started listening. But podcasts have been just an absolutely wonderful resource to say, “Hey, what’s this concept? And I need to research this further. I needed to talk to people like Josh Cantwell, Greg Lyons, different people like that to gain a better understanding of where I fit into the real estate world.” You know, that would kind of be the best thing. And then talking to people. I mean, you could learn a lot online but it’s kind of learning about people’s different experiences in real estate, something they say, “Hey, oh, this works for me.” And then if you want to start and take action right away besides listening to podcasts, I would read Rich Dad Poor Dad, because that is really the baseline knowledge of assets versus liabilities and really got my start back into real estate after reading that book.
Josh Cantwell: Love it. A book that’s out now, which I highly recommend, I’ve talked to my audience a little bit about is the book called The Changing World Order by Ray Dalio. He’s the founder and CEO of the world’s largest hedge fund. He’s been in the financial markets since the early 1960s, and I’ve gone through the book twice now. To me, it’s an absolute must-read. If you have any real care about where we’re going as an economy and as where we’re going in our kind of war, right now it’s a technology war with China. It’s an intellectual property war with China. It’s not a military war, not yet, but The Changing World Order by Ray Dalio, highly, highly recommend. Amazing stuff. Greg, let me ask you, when you look at balance, you seem like a guy that figured it out early. You did a lot of evaluation to see what seat did you want to sit in when it comes to multifamily and self-storage. You decided that you wanted to use your gift of communicating, of networking. And so, what kind of advice would you give our audience around picking their spot like picking their spot in real estate? You did it because you love to communicate network. Are there any other questions or evaluations that you went through or you advise other people, some of our audience, to go through to kind of pick their spot and be happy? I talked to my audience all the time about being happy, about having joy doing what they love. And obviously, you seem to have gone through a pretty significant due diligence process of knowing where do you fit. How do people kind of determine where they fit in the sphere of multifamily and self-storage?
Greg Lyons: Yeah. Again, it’s podcasting. It’s talking to people. It’s probably going to different conferences. I feel like that is really good. That’s a really great way. We’re going to the Best Ever Conference in February, and that’s just a really great place to hear about people’s experience. Again, all we’re looking for is that click to become a real estate investor and say, “Oh, I can do that. I can do single-family houses, I could do Airbnbs, or I could be an asset manager.” You know, getting into the real estate industry is about having different experiences. I had a condo experience. Would I do it again? Probably not. I kind of saw the power of multifamily and what that could do for kind of generational wealth. So, I would probably, you know, but it took me going into condos to find that out. If people are just getting started and maybe a little bit younger, maybe don’t have a family, stuff like that, and a lot of different things they have to do, maybe go work for someone in the industry, whether that be an internship or work for free or become an asset manager, become someone’s back-office person, become someone’s right-hand person to learn from people and learn the different aspects, multifamily, self-storage, again, Airbnbs, single-family fix-and-flips, wholesaling. There’s a million different things to do. It’s just kind of having those different experiences, which I find are very, very important.
Josh Cantwell: Got it. Love it. Greg, are there any books or pieces of advice that you’ve been given that really stand out?
Greg Lyons: So, the book I read after Rich Dad Poor Dad was The Cashflow Quadrant by Robert Kiyosaki, which I thought was really, really good. I’m an avid reader. I just finished Atomic Habits, which was great to kind of read in the new year, just really kind of fire up. What you’re doing daily is where you’re going to be in five years, is where you’re going to be in a year. So, if you’re not making the phone calls, if you’re not on podcast, if you’re not talking to people, don’t expect any change. So, Atomic Habits kind of really drilled that home for me. And then after that is really just listen to podcasts like I’ve gained so much inspiration from people, from people’s journeys, from people’s failures, and listening to those things and seeing how people pick themselves back up, it’s inspiration on your phone every single day.
Josh Cantwell: Got it. Love it. Listen, Greg, thank you so much for joining us today on Accelerated Investor. I know our group can reach out to you online, LinkedIn, Facebook. What are some of the best ways for them to connect with you?
Greg Lyons: Well, if you want more content just like this, I mean, we’re probably not as good as Josh, not as good as your podcast right now, but in December of 2021, we started the Passive Income Brothers Podcast. It’s my brother and I doing something similar. We’re really focusing on the passive investor and how the passive investor can kind of use the easy button of going through Cityside Capital to become passive real estate investors.
Josh Cantwell: Got it. Love it. So, check that out, guys, Passive Income Brothers Podcast and CitysideCap.com. Greg, listen, thanks so much for joining us today on the show. I had a blast learning more about you and your business. Thank you so much for making a few minutes for us.
Greg Lyons: Thank you. Take care.
Josh Cantwell: So, hey, guys. I hope you enjoyed that episode with Greg Lyons. I really enjoyed learning a little bit more about him and his licensed capital raiser status. I haven’t had many people on the podcast before who are licensed capital raisers. Well, that’s all that they do. I love raising money. We’ve raised tons of money and I’m always kind of geeking out when I can talk to another person who’s raising money. A friend of mine years ago said, “Capital will find its way into every crack in the sidewalk, kind of like water.” And what he meant by that was to say that if there’s a good deal out there, good deals will always get funded if there’s enough networking. Okay. So, you can’t just go find a deal and say the money will follow. You have to say find a good deal and the capital will flow into that deal if you do enough networking. So, keep that in mind as you do your deals.
Listen, I had a blast today with Greg. I hope you enjoyed the podcast. I’ve been throwing out a bunch of solocasts lately around our own deals and our own operations. I really enjoy sharing those stories, and I hope you’re getting a lot out of it. If you are, leave us a rating and a review. It would mean so much to me. I’d be so grateful if you would do that. And don’t forget, if you are looking for coaching, partnering, mastermind, go visit JoshCantwellCoaching.com and apply to be a member of that group, which I’m so fortunate and grateful to lead every single day. So, thanks so much for being here on this episode and we’ll see you next time. Take care!