← Coffeez with Joe Shalaby
Coffeez with Joe Shalaby
Why Real Estate Entrepreneurs Need a Personal Brand ft. Shane Seo | Coffeez for Closers with Joe Shalaby
00:37:53
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- [00:00]
James
Today we are sitting down right now with Shane so, the founder and CEO of so Capital Management, a real estate company headquartered out of Atlanta, Georgia and really making a wave in the real estate space. They have hundreds of millions of dollars under management and continuing to scale their business, acquiring more, more and more properties and dominating the space in growing in many verticals and now adding potentially movies to the mix, backed by real estate, which is a totally new ven. We're gonna dive right into it. Let's welcome Shane So thanks, James.
- [00:35]
Shane So
Hey, thanks for having me.
- [00:36]
James
Appreciate it. Today's podcast gonna be a fun one. So now, you know, you're buying buildings, you got a podcast, and now you're starting to create content and you're, you know, we talked about this when I first met. You're kind of an introverted guy.
- [00:48]
Shane So
Yes, I am. Very.
- [00:49]
James
What deals are already coming in right now on, on the real estate side? What do you got working on?
- [00:55]
Shane So
So we're in a transition period right now. So we have about 400 single family. And you know, when I did a few multi, I was like, wow, I can have 59 units or 44 units, kind of all in one area. But having 400 homes, that's 400 tax parcels, 400 insurance policies, 400 different. And they're kind of spread out and there's no forced appreciation that can happen. So we're trying to bundle up some of those. So we have right now 42 to 43 houses under contract to sell, and I'm going to 1031 them and put them into more multifamily. So that's what we're sourcing out. We want to try and get in the hotel business. That's not, they say that's not. That's more of a business play than a real estate play. But I kind of want to try a hotel. I'd like to try some development eventually and then also some single tenant triple net lease conversion. So we'll find some older building or maybe just some land, find a good triple net lease tenant that wants it, and we'll either build it or, you know, fix up the building that's currently there. And we tend to like those a lot too. A lot easier tenant as well.
- [01:56]
James
Where are you sourcing right now, your deals? Are you just finding them through your network? Are you finding them through realtors? Are you finding them through, like online auctions? How are you getting?
- [02:05]
Shane So
Yeah, so we, we've always used. So since we're going after multi family, I guess it depends on the type that we're looking for. But multi family, what we do is we pull the records for the current dispossessories that are happening, the current evictions. And if you notice, like the same name as the landlord, either means they have a portfolio of single family homes or multi family. So reach out to the landlord and that's usually in their most motivating spot. As you know, if you're in real estate and you're a landlord and you're in the middle of an eviction, especially a bunch of them, you're probably in your most motivating spot. So we tend to talk to them and try and upgrade them from landlord to banker at that point and make it completely passive. Because most landlords got into real estate for passive income and then it ends up not being as passive as they thought.
- [02:49]
James
Never passive.
- [02:50]
Shane So
Yeah. So then, so we're like, well, so we try and make it completely passive. So we'll handle all repairs, maintenance, tax, insurance, and we buy it with seller financing, usually, unless it's just like a killer deal and they can't sell or finance it or they want a 1031, then we'll pull out a good Fannie or Freddie Mac multifamily loan. So that's how we do multifamily. As far as commercial, we deal with a lot of brokers. And I'm very new to this, like I said, so I'm even doing podcasts. I've done a few of them now. But like, I'm new, but since I've done more personal branding, a lot of people know I'm the real estate guy in the area and that we're creative and what we're kind of buying. So it's been really good for deal flow. So that's been another way. So brokers, you know, dispossessories for the multifamily people just bringing us deals. And then we're always sourcing some stuff or if we're driving by property we see one that we like, we just, we just make a habit. I like that property, I like the area where it's at. And we'll just try and reach out to the sellers just to make a relationship, talk to them. They may not want to sell now, but at least we're always first in mind later on. So because we play the long game. So that's kind of how we're sourcing right now. Kind of basic and easy.
- [03:58]
James
You said something now that really resonated with me, which is, you know, you started doing some personal branding and for someone like yourself, Already established in real estate, already have a big portfolio business, and now you're, like, pivoting. I'm going to build my personal brand. What was the catalyst for you to start to think about building your personal brand? What really inspired that for you?
- [04:16]
Shane So
So it took me five years to even get my first deal in real estate. And I was 25 years old when this guy had slicked back here kind of like you. Like, he had this real nice hair. Him and his wife had matching Cadillacs. And I could just tell he had a lot of money. Just like I'm looking, I was like, okay, he's doing well for him. So I said, what do you do? And he said, boy, you should take me to lunch. So I took him to lunch, and he said, real estate. But then he ghosted me after that. So for five years, I got 33 properties under contract and canceled them all. Never closed them or anything, because I was just. I didn't have any knowledge, no mentor, not enough education, honestly wasn't in the right, like, I guess, groups at that time, so. But once I finally got my first property, it snowballed so quickly. And I looked back about a year and a half ago. January. No, no, 24. No, it was January 2023. I'm sorry. So it's been a little bit longer that I said, I'm going to really lean into finding out how to make what I do quicker, because if I would have started five years prior to doing real estate at that time, where would I be? So I reached out and I said, I'm gonna go to the best mentor I can think of right now. And I was watching a lot of YouTube, so I paid 100 grand, talked to Grant Cardone. I had four hours with him. I've only used two of those, four. And the first time that I talked to him, he answered all my questions, made one phone call, made me $888,000 three months later. And I said, that's why I should have done it. So I. On the second time I saw Grant, I said, grant, what should I do? Thank you for the real estate. But, like, what should I do? Should I do events? You know, should I. What. What should I start doing? And he says, you need to get in personal branding. So then I reached out to Tai Lopez. I paid his mentorship, and both Grant and Ty kept saying, do personal brand. And I'm an extremely introverted person. Like, barely. If I'm at an event, I'm always in the back shadows if I can. So it took a little Bit of time. And I did drag my feet a little bit, probably a couple more months. And then in January 2024, I said, all right, let's try and do this personal branding stuff. I did my first podcasts and we started doing workshops where I'd stand up front and start teaching people. And then we started doing. I don't even know what you call it, but when you're talking to the camera, just teaching something. I started doing a few of those. And then slow but surely is growing. I'm still doing a lot to try and catch up to you guys. But that's what got me.
- [06:37]
James
I started personal brand January 2024 as well.
- [06:39]
Shane So
Well, you're killing it. You're doing a great job.
- [06:42]
James
But I went all in. I started doing crazy content antics, podcasting. I just released a book. You know, I went all in on personal branding.
- [06:50]
Shane So
Well, you got to coach me because right now I'm just doing the basics.
- [06:53]
James
Lopez and Grant Cardone. Those are the biggest names you can go to.
- [06:56]
Shane So
Oh, yeah, they're busy. They can't sit there and, like, say, hey, make a whole plan all the time for. I'm actually scheduled to see Grant again in the next, like, month or two just to ask them. But, like, I haven't been making funny videos, you know, that capture and keep it. I mind's more nerdy. Just, hey, here's this. I'm teaching or podcasts, but I need to do, like, some creative videos. What. What would you say if I, you know, I do real estate and I'm doing it for deal flow, and I love nerding out. What are three things that you think I should do when I get back to Atlanta?
- [07:23]
James
I mean, I think you do have to do more relatable content that actually resonates with people. Something along the lines of just making people laugh, you know, and adding the flair of, you know, where they know you're. It's associated with real estate that makes. That's just some sort of, you know, relatable real estate comedy. Like, you know, I do some relatable comedy when it comes to real estate. Like, oh, this is what, like, you know, a million bucks gets you in California. And I'll walk into, like, you know, a bathroom, you know, like a shack. No, no, like a porta Potty.
- [07:58]
Shane So
Oh, yeah, that's.
- [08:00]
James
Here's a million dollar house down in California. Something like, you know, but it's like, it's funny, but it's. It's, you know, it's just things that make people laugh associated with Real estate. There's just millions of jokes. That's just one example. And, you know, you don't know, like, I don't know how much short content you're putting out.
- [08:19]
Shane So
Right now we're trying to do 30amonth and then hopefully get to where we can do three or four a day is what I've heard. Sweet spot.
- [08:26]
James
And, and post a lot. Like, I, I don't know how many platforms you're on, but I'm on every platform. I'm on TikTok, YouTube, Snapchat, Instagram, Facebook, LinkedIn, X, you know, what's it called? The blue one. Blue Sky Blood.
- [08:42]
Shane So
I've never even heard of Blue Sky.
- [08:44]
James
And then I'm on. I'm on Reddit, I'm on. I'm on Amazon, I'm on, you know, Spotify, Apple, itunes. So I try to be on everything. And then I'm on all the blog platforms. So, you know, I try to. I try to get on every single platform so that I can just get as much exposure as possible.
- [09:03]
Shane So
I'm writing down these. Yeah, I'm on all of them. But that you said in the earlier parts, except for Snapchat, I have it, but I don't. I haven't been doing it, but I need to do it.
- [09:12]
James
Yeah, yeah. Snapchat's actually a very untapped market. There's not a lot of big influence. I met with their, some of their, their C level and be going to Snapchat school. I'm actually represented by Snapchat.
- [09:22]
Shane So
Oh, wow, that's awesome. Yeah.
- [09:24]
James
So it's just an untapped market.
- [09:26]
Shane So
And what made you get into doing personal brand?
- [09:29]
James
I wanted a differentiator from my competitors. My competitors. None of them started building their brand and I just wanted to build my brand.
- [09:35]
Shane So
And you see a big difference that it's helped with all the businesses that you do as well.
- [09:39]
James
Yeah, it's. It's helped deal flow, it's helped recruiting. It's just, it's made me relatable. It's allowed me to get on stages. It's opened a lot of doors and I'm in the very grassroots of it, you know, So I just start. I'm in the very beginning, just like you. I'm 18 months in.
- [09:52]
Shane So
Well, you're doing good. Doing good.
- [09:54]
James
So we're both kind of doing the same thing, but it's a. It's opened so many doors. It's awakened me to so many different things.
- [10:01]
Shane So
Yeah.
- [10:01]
James
That I just wasn't privy to. I've just. Because now you, you know, and now with. With AI indexing, with the way that the, the algorithm is moving with Chat GPT, Grok and Gemini and all these platforms, Claude and all these guys, they all get their data from online and they all aggregate their data from.
- [10:23]
Shane So
That's a good point.
- [10:25]
James
Whatever you say on these podcasts, everything I say on this podcast is going to be indexed. Every word I say is now going to be indexed by Chat GPT and will be quoted and will be, you know, all these different things.
- [10:39]
Shane So
So it'll use it. Ah, that, that makes sense. That makes sense.
- [10:43]
James
It's a way for you to stand out in the future and it's something that you just is. Is a necessity in any vertical right now. Just because the way that Chat GPT reasons. So in the world of AI, you couldn't have timed it better. Yeah, like your personal brand. Like no one's even relating personal branding and the world, the new world of AI, like fully yet. And I'm, I'm kind of going on a mission talking about it, so it'll be much more.
- [11:09]
Shane So
I'm looking forward to hearing more about it, for sure.
- [11:12]
James
Um, so real estate people love to say, I don't have time for content. What do you say when someone hits you with that?
- [11:19]
Shane So
I say, you're 100% right. Because I don't want them to do it. It makes it easier for me. No, no, I, I just think it'd be a big mistake, you know, I think, you know, real estate and content, or really any business, personal brand and doing content, that's the best way to get yourself out there.
- [11:34]
James
Yeah.
- [11:35]
Shane So
Weirdly enough, if you're driving down the road and you see billboards, I bet more people see stuff on their phone while driving or in a car than they do on billboards.
- [11:42]
James
They do.
- [11:43]
Shane So
So it for personal brand, it's good for business, good for everything. So I would say they're making a big mistake if they don't take time. In fact, I would say it's very important to take two or three hours per day and just do personal branding. That's what I'm trying to, you know, I'm saying all this and I, you know, I struggle with it, but I'm, I'm trying to be very disciplined now to just make sure I'm very deliberate to do it. I believe in the next year and a half, since I'm a year and a half in year and a half later, I hope to sit down with you and laugh about. Say, man, I remember sitting here doing that Podcast and I joined those other groups now and it helped me, you know, so I'd say it'd be a big mistake if they don't do personal branding.
- [12:18]
James
I agree 100%. I mean, I, I think anyone in the real estate field, financial sectors, mortgage sector, you know, insurance sector, have to start building their brand.
- [12:28]
Shane So
Yes.
- [12:29]
James
Because if they don't, their competitor is going to eat their lunch.
- [12:32]
Shane So
Yeah. I mean, it's a great way for, for credibility. People see you, they see you as the person that's giving the knowledge, and then when they meet you, they trust you more or they feel like they know you. I assume because you've been doing pretty very well by what I was looking online and having met. You're a very personable person. You're funny. I saw some of your very good stuff. But when they meet you, they act like they already know you. So they're just, if you say, hey, do this, do that, they're gonna act on it quicker, which is good for them too.
- [12:58]
James
Yeah. You know, it, it's funny, you know, what branding has done for me because I, I don't think I can go somewhere in public now where someone's like, I, you're in my feed, or I haven't seen. I see your videos or I like your stuff or, you know, and, and they, they connect to you, you know, just. Because the more relatable you are, the more down to earth you are. Like, you got to do content that connects with people.
- [13:20]
Shane So
Absolutely.
- [13:20]
James
And, and what I've identified is that we're both in pretty boring businesses.
- [13:26]
Shane So
Yes.
- [13:26]
James
You know, so when you go on social media, every platform has their own place. LinkedIn is a good place to nerd out. But like Instagram and, and tick tock and YouTube, that's a. Well, not YouTube, tick tock and Snapchat, those are places for you to be more authentic to you, who you are.
- [13:47]
Shane So
That's right.
- [13:47]
James
Whatever your hobbies are, whatever you find funny, whatever you think is like relatable to your life or, you know, your dad life or whatever, you know, it
- [13:56]
Shane So
has to be more entertaining, for sure.
- [13:58]
James
To be more entertaining, has to be more relatable because that's where the people get. Go for release people go for education and information on, you know, on LinkedIn, on, you know, YouTube or whatever. That's X, you know, X. We've converted our X page to just hot takes, which is just small tidbits of. So I have so many verticals of content you probably saw to kind of, you know, embody my brand and I'm. Listen, for me, personal branding is a big work in progress. I just went through a full rebrand myself, you know. Wow. So it's, it's a big work in progress. Like imagery, content creation, like what sequences, cadences am I putting out? It's all just, you know, I'm always thinking about it.
- [14:41]
Shane So
Yeah.
- [14:42]
James
Now take us behind the curtain. How are you. How are you planning, how are you recording, how are you editing and. And, you know, really distributing your content too.
- [14:51]
Shane So
So I have a really good friend. So I went on a Christian movie set as an extra and I met these. This husband and wife team that they were directing the movie. And I guess I should say a little bit before this, before I did that extra was an extra on the show. I had hired some people to do some video for me. And it's after. Even with me, with the limited knowledge that I have, I could just tell they wasn't up to par. Just because someone knows how to film a wedding doesn't mean they know how to film for social media, if that makes sense.
- [15:22]
James
Yeah.
- [15:22]
Shane So
So I, I was already in transition period from that. Then I went to be an extra on this movie or whatever, and I met this husband and wife team, Austin and Haley Spicer. Been phenomenal. But not only did they know how to do movies and shorts and things like that, but they had actually done social media for other companies. And when I told them what I wanted to do and they, they said, you know, I think we can, I think we can do that. So I said, well, just take your time, go research and tell me your thoughts first. And here's a few people to go look at the other, you know, business guys online. And they went looking at the shame. We can totally do that. And what we do not know if that or don't know at the moment, we know other people in the industry that do it. And they ended up having a pretty good Rolodex of people that were already, you know, had pretty good large podcasts and stuff. So we, we sat down, they filmed me a little bit, they gave me some scripts, and I kind of went off script because just because they give me a script doesn't mean it's the way I would believe. So I just took the ideas that they said and I read it and I said, okay, let me put it in my words. And I taught it in my way because I like to buy things a little different than what most other investors would do because I like to be creative. Instead of just giving one offer, we get three every time. We have reasons why we do it. And then what do we do two weeks later before closing or whatever. So I would just tweak it up. So then they would film it, they would edit it, I would review it and give notes. Then whenever it comes perfect, where they all feel good about and I feel good. And then we would try and post and I guess they put it. I guess you can schedule when they come out. So they looked at the optimum time to schedule when something long ago. Yeah, a lot of work now just to get out a few of the videos. Yeah, video. And then if we do a podcast like this, apparently you can break it up into multiple shorts. Right. So they would choose pieces there. And now we've been delegating, talking to other people like that. I don't want to say their names, I guess, but like just other people that edit for some of the other podcasters and other influence, some of the bigger influence. I didn't realize how expensive it was until we did it. It's like six grand for like 30 shorts. I was like, man, that's ridiculous. But those got the best traction and they know when the hook and keep the audience's attention. Apparently you want on a short, them to watch the whole thing and hopefully watch it again. And then on long form, you want them to at least watch 30 seconds of it, like the. Make sure this. And then you can kind of slow down the pace and let me nerd out a little bit.
- [17:44]
James
There is a lot of science.
- [17:46]
Shane So
Oh, I was talking to your good guy here, Tim. He was teaching me some more stuff. So I was like, I'm always trying
- [17:52]
James
to learn coming out. We're coming out with something for. Because we've converted our podcast to a media company as well for guests who need content. We meet a lot of people who are just like, I don't have content. So we're rolling a lot of cool stuff out to help our guests that really, like, launch, you know, their content. I think you'll be interested. Tim will chat with you about it and he'll for sure he'll show you, you know, what you can do to really optimize your content, what to say, what like, pictures to add and how to really, like, you know, add the hooks, etc. There's a lot of science to the. It's actually more science in this than anything else because it evolves so quickly.
- [18:32]
Shane So
It does.
- [18:33]
James
It evolves every single day. The algorithm is changing at rapid speed. And we really are in a place where if you're not up to Date with what the algorithm wants. It's like your content's null and void. It's not going to be served to the audience, et cetera. So staying up to date, staying relevant, optimizing all the time for what the algorithm wants is imperative.
- [18:57]
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- [19:49]
Shane So
So no, that makes it. And from a scale 1 to 10 of saying that 10, you know, I know everything about social media. I might got four.
- [19:56]
James
Yeah.
- [19:57]
Shane So
So I can, I mean, I would
- [19:57]
James
say I'm a two. I mean it's like, it's impossible. Like I'm going to conferences, I'm going to, you know, all types of stuff just to kind of keep up with the times. And it's like, you know, it's really, it's really a difficult, a difficult industry to, to, to really dominate. It is be the top podcast or the top social media influencer because someone's better than you. And that's right, like way better than you, you know.
- [20:21]
Shane So
And it's also pretty interesting, you said because it's like McDonald's cheeseburger is not the best burger, but it's the most bought burger. You know what I'm saying? So in my opinion, same thing. It's like I, I just want to know enough, but I want to get the best. Being Austin and Haley and then some other guys that are using his editors and kind of giving us advice and definitely like work tip. He knows this stuff. He was over here. I was like, man, yeah, because we've
- [20:43]
James
been at it for, yeah, 18 months, every day, all day, talking to this guy and Tim also, like my team, we have a lot of resources. So, you know, I'm talking to so many CEOs, so many founders, so many big creators, so many influencers. Every day I'm coming up with something, I'm collaborating directly.
- [21:01]
Shane So
So that's awesome. That's awesome.
- [21:03]
James
We're coaching each other and I'm studying this stuff every day so I can probably properly speak on it because I speak all over the country talking to people about branding because I'm, you know, again, me and you are both in very boring sectors.
- [21:19]
Shane So
We are.
- [21:20]
James
So branding to a lot of mortgage professionals and real estate professionals isn't that important. They just think they got a door knock, they got a, you know, cold call or whatever it is that they're doing. It's like, dude, welcome to 2025.
- [21:35]
Shane So
I know. And who would have thought? Okay. Because I came back when I was younger, MySpace was the big thing, you know, you never would have thought that,
- [21:42]
James
like one of the founders of MySpace on my show.
- [21:44]
Shane So
Oh, that's crazy. Yeah, I like to meet him. I just never thought that it would be so big that social media is just, you know what I mean? Like when I still think him. I used to love MySpace, you know, just kind of crazy. But I will throw this out there since you're speaking around, like on stages and stuff. So we did Atlanta Real Estate Conference, which is our just real estate based con. We had about 400 people last year. Then we did a business conference and now we're going to try and do a creator one so we can have those three going throughout the year. The reason why is because we think business people need to make money and preserve their wealth in real estate, but they also need to do personal branding and like influencer stuff. Then we think the real estate people, they need to treat their business more like a business and they need to do social media. Then you got influencers who are good at making money and talent, but they don't know what to do with their money and they don't treat what they're doing as a business. So we feel like there's a good little triple pillar, if you will. So I'd love to have you come out to our creator summit when we hold it.
- [22:44]
James
Yeah, let me know. We could do it. I'm again, I'm going around speaking to boring mortgage real estate professionals all over the country, figuring out how I can help them build their business and really like giving them insight into the importance of building their brand based on AI indexing. My, my, my conversation isn't just about branding. It's about how the algorithm is interpreting your personal brand.
- [23:06]
Shane So
Interesting. Yeah.
- [23:07]
James
So it's a different outlook on, on it because it's, it's the future because we now use AI for decision making.
- [23:15]
Shane So
Oh, wow. Yeah, right.
- [23:16]
James
That's what you, that's Right. It's like if you go, who, what plum am I going to go with? Or what's the best place to shop? Or what's the best milk to buy? Or who's the best loan officer to work with? Who's the best. Who's going to give me the best interest rate, the best realtor, who provides the best finance. Like deciding everything for you.
- [23:36]
Shane So
Hence the reason we got to be more on personal branding, to make sure it picks up. Now that makes sense.
- [23:40]
James
So you got to formulate your brand around what you do and, and put out content. And podcasting is important because every word you're saying right now, everything is going to be, I mean, Chat GPT is going to cite everything I just said.
- [23:54]
Shane So
That's amazing.
- [23:55]
James
Even every stutter, every word, every, every. Ah,
- [24:00]
Shane So
well, I like Chick Fil A with a large sweet tea. If you're at any of my conferences, bring it to me. You guys.
- [24:08]
James
Now what Gear tool software actually helps you move faster? Like when, when you, when you launch your business?
- [24:15]
Shane So
Like when I started doing the real estate stuff.
- [24:17]
James
Real estate what? Gear tool software using podcasting.
- [24:21]
Shane So
Oh, okay. Yeah.
- [24:22]
James
So for real audience, just some, some tidbit of.
- [24:25]
Shane So
Just my cell phone, which of course right now, Chad, Starting now, because I can start what I did when I started real estate is just driving by, seeing for sale by owner signs or, or Craigslist. But like right now it's definitely chat GPT. Good AI stuff like that is always helpful with, like you said, I sit there and brainstorm. I do ten 20 minute notes. You know, I'll do it and it'll, I'll be talking and It'll stop at 10 minutes. I'll wait for it to catch up and then I'll keep doing over and over again until I ask it a bunch of questions and brainstorm with it. So chat GPT definitely. We use a lot of softwares when we're doing sourcing too. You know, we use Facebook Marketplace when we're finding deals. We are always constantly looking for landlords. So we're using, you know, social media, you know, Facebook. What else are we using? You just, just Internet tools, you mean?
- [25:14]
James
Yeah, yeah. I mean this is more application. Like when I'm studying somebody, I want to know what they're doing. What's your tech stack? What's your, you know, sourcing stack? What's your.
- [25:22]
Shane So
Well, we use costar crates because we're looking for commercial stuff there. Facebook. We also scrape the public records too. You know, we're trying to find the current evictions going on or water shut offs to see what's vacant or what. You know where some of those motivated sellers are. We are going to, we, we do a lot of ads or inorganic ads, you know, we're sourcing. Hey, look, if you want to sell your property or hey, your landlord, it wasn't as easy as you thought or why did you get into it? We're trying to build up more landlord community as well. And then of course for, you know, we don't use Cleveland, we use Go high level. If that's a software, that's your general CRM. It's just a good CRM. Yeah, I'm not very tech. It's. It's real good for all my. I know like I said, on a scale one to 10, I might go with three or four. But I have the best guys around me that know every bit and I can just at least talk the language to make sure we're all on the right page.
- [26:18]
James
Now, have you ever had someone call you or want to invest with you or do a deal with you based on your social media presence or what they saw online?
- [26:28]
Shane So
We have, yeah. Coincidentally enough it was I think my first larger podcast that I got on and I was sitting there speaking and then we had someone come to the meeting, like our little workshop because we mentioned it on the podcast. Then becoming one of our private clients, which he is the best guy, I'll even shout out, his name is Jamie. So if he comes out. So he became a private client of mine and we got him doing his first deal right now. And then we met another young boy, Tanner, so I'll give him a shout out. And he was 20 years old. He's 21 right now. So in one year we got him 52 doors. Very proud about that. Yeah, we just showed him how we sourced, how we talked to landlords and how we structured and he did all seller financing. So no banks. Now that he's in going past a year, a year and a half. We're trying to help build his relationship with banks and lenders, you know, because we want to burr or cash refinance or bundle the loans or maybe he wants to sell in 1031.
- [27:31]
James
I just went knocking on people, just took over their mortgages.
- [27:34]
Shane So
Yeah, he. Well, no, no, no.
- [27:36]
James
How do you have the money to give the sellers?
- [27:39]
Shane So
Yeah, so some of those he paid down payments. But I have this method that we do like let's just say a landlord. Let's just say you're a landlord. And then I call and I'm Talking to you. I know you're in the middle of an eviction. And me and your, you know, I'm talking to. Figuring out your motivations. And you say, okay, I'll use a real one. My biggest portfolio I ever bought as far as single family was 92 homes. I was going to a Little Caesar's Pizza to buy pizza for my grandma, which we call Big Mama, and my little niece and nephew. When I went through the drive through, I saw for sale by owner sign kind of in the distance. Had a buddy with me. I said, hey, go get the number. He went and got the number, called. The guy ended up being an older gentleman. He was about 81, 82 at the time. And he, he was just surprised that we had called him because this is a city about three hours from, and my grandma lives about three hours from me. He said, what are you doing down here when you live up there in Atlanta? And I said, sir, we buy all over the state. So he was very impressed. Super nice guy. For personal reasons, he had certain, like, I can't explain everything that he was going through, but he needed some cash. He on, you know, because he had these two homes that he told me he had. He only said he had two at the time, two homes. He needed to sell them for a personal reason and he needed the cash like right away. So look, you know, I'm very interested. I'm a young guy. I'm trying to catch up to you. I'm trying to get into real estate. Looks like you're trying to turn it more passive. Lo and behold, he owned 92 total. So I said, sir, how about this? How about I buy two of those homes traditionally, unless that count as the down payment, and you sell or finance me the other 90. So I bought those two homes. I bought those traditionally. Those are a hundred thousand dollars each. It's just kind of close around 200,000. So I paid 40,000 down, did the whole 20% down and got a loan for 160, bought the homes, and then he seller financed me the other 90. So that's what we, we. We trying to repeat and do the thing that I did, though, since I came out 40, I'm always saying, how can I get my 40 back, still own the property, cash flow, and then 1031 later. Because if you sell or finance it, you lose the 1031 eligibility, right?
- [29:47]
James
Yeah.
- [29:48]
Shane So
So I bundled up about 42, 43 or 44 doors. I forget how many it was. There's a. Some of the homes that I didn't necessarily Want they're like, more work, like in the hood. In the hood, a little bit harder work. And honestly, I. This is three hours away. So I kept the ones that I wanted, and then those that needed a little bit more work, I bundled them up and did a master lease and sold an option. So I charged these investors that live down there. I said, look, you just pay me. They paid me $150,000 down. I master leased it to them for 12,500 bucks, and that paid for my mortgage, gave me some cash flow, and I got all my homes for free, and I got my 40 grand back. So I made 110. So that's kind of what I did. So now what this boy Tanner did and what I want him to keep doing is we find a property. If I negotiate with the seller, and let's just say you have a $400,000 home, you want 40 down, I'll get it under contract, and then I'll find a tenant buyer that can pay me 40 or more, since I've got to pay you 40. And let's just say I find some give me 60, they give me 60. I then close with the attorney in Georgia's attorney, say, here's. Is it escrow or title state here?
- [31:03]
James
Yeah, it's. It's a title state.
- [31:05]
Shane So
Title state. So I would then close out the title coming once I know I have the tenant buyer in place. So now I've either made money or broke even. Then I can cash flow at least it with the option. And then when they cash me out, I can 1031 it. And during that time, at least got the depreciation and have it as long term. So that's kind of been my goal. So always put out money, get it back, hold. Put out the money, get it back, hold. And then as I accumulate, then I'll put that into more of a b plus, a class asset with my own money, because now I can. I need to put the money somewhere I don't want to just leave in my bank account. I think it's very volatile that way. And for asset protection, that's terrifying, you know?
- [31:45]
James
Absolutely.
- [31:45]
Shane So
So that's what this young gentleman did. So he. He's just been rocking and rolling and doing it. I'm very proud of him. Oh, he's killing it. Yeah.
- [31:53]
James
A couple last questions for you. What's a personal goal that you have for yourself? A business school that you have for the business, and a family goal that you have.
- [32:00]
Shane So
Who I'm starting, the family goes, so I just got married in November Congrats. You know, so same thing as I went to Grant and Elena. So I went not just the Grant girl, I went to Elena Cardone here in Costa Mesa. Well, you're. This is Irvine, right?
- [32:13]
James
Yeah.
- [32:14]
Shane So
There's two mentors as a Glenn and Mindy Stearns. So I wouldn't ask them and just see how they are as a husband and wife. And I went to as many wealthy people as I could and said how does a wealthy couple make it to have a maximum business, maximum portfolio and still be able to give time to each other and be a good family man? So they all gave me great advice. So in family I want to make sure I give a hundred percent, 100 present with my wife. I want to be able to have five children. I want to start with one though. But you know, but we have the idea wanting to have five.
- [32:45]
James
I got four myself.
- [32:46]
Shane So
Oh, I, I want to walk into a home and it'd be like chaos a little, I don't know, I just, that's just how I like, I like the kids. I don't know that's what I imagine it to be. Is that how it is for your family? And yeah, to me that's a blessing. So that's with my wife. I want to give her everything. I want to have a ton of kids. I like to have two or three homes throughout the country. Doesn't have to be big ones but just something we're working for a little bit here in California, a little in Georgia, a little in Florida. In business I want to get into M A and I like. I'm getting in the movie business so I'd love to expand on the movie business. I believe the. Well the movie business is the only business that hires every type of business. So there's a great M and A play there. So I like that and has a real estate play which I love. And then in real estate I want to get out of single family and start doing more higher end stuff. All privately owned right now. And then I do have two little debt funds and the only reason I started that was to retire my mom and dad in those funds. And then all the sellers that did seller financing when I cashed them out, they didn't have nothing to do with it. So I put into my debt fund that's cross collateralized about multiple properties instead of just a first lien on one property. So it's just a way to make sure I have that. But now I may start ramping that up a little bit. But I'd like to Grow to a couple billion dollars in assets under management 2010 to 20 years, hopefully as quick as possible. So I think that's, that's real estate business. I want to do more M A and family. Yeah, that's, that's what I said.
- [34:15]
James
Personal. Anything personal for yourself.
- [34:18]
Shane So
Personal. I, well, I speak Spanish now. I want to learn more Korean because I'm half Korean. I'd like to be able to speak to my family in Korea. I want to get in better shape. I've been. Have more of an uncle body right now. So I want to be getting more maximum shave. Definitely want to do that. And I want to be a little bit more comfortable on stage speaking. I won't be a better speaker because I'm a southern guy. I stutter, you know, I'm introverted. I don't like being up there and I start, you know, getting nervous. I want to be more comfortable and just work that muscle. So I want to be able to do that.
- [34:52]
James
The only way to do that is just do more of it.
- [34:54]
Shane So
That's what they say, that you got
- [34:56]
James
to just do more of it, you know, like I would be terrified speaking on stages before now it's like I just go up there and I'm just me, me everywhere I go. Me on this podcast. Not me on social media, on me on stage. It's just me, me, me.
- [35:08]
Shane So
Well, that's great. And I have a lot to learn from you. You. And then I know David Meltzer. I call him Uncle David. So, like I have a lot to learn from you guys.
- [35:16]
James
I wish he was here today. He would have done your show today. Here?
- [35:19]
Shane So
Yeah, yeah, we did one. What, like sometime in May, I think it's a couple weeks. And then you done it in May. Yeah.
- [35:26]
James
One last question.
- [35:27]
Shane So
Yes.
- [35:28]
James
When you're in front of the pearly gates, what do you think God's going to tell you?
- [35:33]
Shane So
You know, that he doesn't see anything but his son. That's what I would hope he'd say because if he saw me, I would be straight to hell. That's what I think. So I hope he sees through me, sees his son, lets me in and he. Because I don't think there's anything that I can do to win myself to heaven, you know, But I, I have fully. I grew up in the church since I was 4 years old and I'd done mission trips since 19. I even did. I was actually a pretty full time missionary from 19 to 28. But I got married. I got not married. I got born again though, when I was 28. So I. I know what it feels like to be religious and then I know what it is like to have the actual thing, not just a counterfeit. Does that make sense? Yeah. And in that moment when I was 28, I realized no matter how kind I looked or how people looked at me or how, how much I stood in church and all the people that I fed and people that I helped, I still saw it. I really saw that like wretched man that I am. You know what I mean? Like I've always heard that in the church prior, but I didn't get it until I really experienced how wretched of a man that I am. And I got saved that day. So I hope when I stand with to it. But before the pearly gates, he doesn't see me at all. He just sees his son. That's what I hope that for you too.
- [36:52]
James
God bless.
- [36:53]
Shane So
How about you?
- [36:54]
James
You know, I realize how wretched I am all the time.
- [36:58]
Shane So
Right.
- [36:58]
James
We all do. Because that's just part of being saved. And you know, for me, when I'm in front of the pearly gates, all I want God is like, I know you tried and I know you're a screw up and I know you keep trying and I know you get back up. But one thing he knows that I'm a fighter and I keep getting that back up and I'm gonna keep fighting and I'm gonna keep just doing his work. I exist for one person, one reason. Just here as a vessel to do God's work. And he knows that I love that. As long as he know, he knows that because that's all, that's the my whole purpose in my life.
- [37:29]
Shane So
Absolutely.
- [37:29]
James
No, I love serve do God's work. Now do I screw up every day?
- [37:33]
Shane So
Oh yeah, every day we all fall
- [37:35]
James
short, you know, but. But he knows I'm here to do his work.
- [37:39]
Shane So
Yes, yes.
- [37:40]
James
And he's given me a lot of power in society to you know, push a message and, and I do that and I do that with, with no shame. And I do that even though a lot of people hate on me for it. And it is what it is. But I'm pushing the message.
- [37:58]
Shane So
No. Well, I love that. Bless you on that.
- [38:01]
James
If people want to connect with you, how do they find you?
- [38:03]
Shane So
All right, so I'm not on as many as Joe here, but I'm on Instagram, Facebook, YouTube, Tik Tok and X Shane. So. So @s h a n e SEO would love to connect with you guys.
- [38:17]
James
Let's go.
- [38:18]
Shane So
Yeah.
- [38:18]
James
Mr. Shane, so he is dominating. Make sure to connect with him. He will make you a real estate millionaire. Let's go.
- [38:23]
Shane So
Let's do it,
- [38:30]
James
Sam.