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Listen "E12: Finding Signal in Noise through Travel and Goals and Outlook for 2023"
Episode Synopsis
Faced with constant phone notifications, emails, zoom meetings, and 24 hours news, it’s difficult to find signal through the noise. In today’s episode, join Pasha Esfandiary and Cody Littlewood as they discuss the value of resetting your life through travel and digital minimalism. Have a look into their goals for 2023, both in business and personal life, and what they think is up ahead in the multifamily and mobile home markets.
Here are some power takeaways from today’s conversation:
Resetting mindset and focus with travel
Finding signal through noise and digital minimalism
Intentionally getting out of the minutia
Their business and personal goals this year
Their outlook for multifamily real estate and the mobile home space
Episode Highlights:
[09:30] Travel Resets Your Life
Travel is an awesome way to reset your life. Stepping away from your normal environment and out of your everyday life gives you a fresher perspective. Kids also grow up well-grounded when you can let them connect to nature. When you’re traveling and you’re outside of work, you have more time to read, journal, or do the things that excite you. Try going to a place where you’re in a different time zone and see what it feels like to have mornings that are free from all the emails and calls. Being able to do the deep inner work helps you gain clarity that will benefit you, the people around you, and your business.
[24:48] Get Out of the Minutia
It’s important to have that time when you’re able to go away and have that thinking time for yourself, even if that’s just two or three days that you can disconnect from the phone. Otherwise, if you’re caught up in the minutia every single time, it’s easy to make poor and rash decisions.
[45:24] Outlook for Multifamily Real Estate
Cody thinks there are a lot of short-term challenges on the horizon. But over the long term, the fundamentals are there in the multifamily space. Household formation is going to be massively slow in the face of a recession and we're going to have higher rates, even in the face of a slowing economy. But at the end of the day, people always need housing and shelter. You can probably expect to see some softness in rents. Arguably, Cody thinks there are probably some spots of distress but there's also rescue capital available and a lot of capital waiting on the sidelines.
[50:58] Outlook for the Mobile Home Space
Pasha is still 5% across their portfolio of average medium income to what their lot rents are, which is good. There is space to grow. The challenge, however, is finding deals. He's also seeing how slowly sellers are starting to get creative with their financing, and are willing to do more seller financing.
Cody doesn't think we should be making short-duration bets on long-duration assets. Instead, hold for long periods of time and stick to those good fundamentals.
Resources Mentioned:
Digital Minimalism by Cal Newport
Deep Work by Cal Newport
Here are some power takeaways from today’s conversation:
Resetting mindset and focus with travel
Finding signal through noise and digital minimalism
Intentionally getting out of the minutia
Their business and personal goals this year
Their outlook for multifamily real estate and the mobile home space
Episode Highlights:
[09:30] Travel Resets Your Life
Travel is an awesome way to reset your life. Stepping away from your normal environment and out of your everyday life gives you a fresher perspective. Kids also grow up well-grounded when you can let them connect to nature. When you’re traveling and you’re outside of work, you have more time to read, journal, or do the things that excite you. Try going to a place where you’re in a different time zone and see what it feels like to have mornings that are free from all the emails and calls. Being able to do the deep inner work helps you gain clarity that will benefit you, the people around you, and your business.
[24:48] Get Out of the Minutia
It’s important to have that time when you’re able to go away and have that thinking time for yourself, even if that’s just two or three days that you can disconnect from the phone. Otherwise, if you’re caught up in the minutia every single time, it’s easy to make poor and rash decisions.
[45:24] Outlook for Multifamily Real Estate
Cody thinks there are a lot of short-term challenges on the horizon. But over the long term, the fundamentals are there in the multifamily space. Household formation is going to be massively slow in the face of a recession and we're going to have higher rates, even in the face of a slowing economy. But at the end of the day, people always need housing and shelter. You can probably expect to see some softness in rents. Arguably, Cody thinks there are probably some spots of distress but there's also rescue capital available and a lot of capital waiting on the sidelines.
[50:58] Outlook for the Mobile Home Space
Pasha is still 5% across their portfolio of average medium income to what their lot rents are, which is good. There is space to grow. The challenge, however, is finding deals. He's also seeing how slowly sellers are starting to get creative with their financing, and are willing to do more seller financing.
Cody doesn't think we should be making short-duration bets on long-duration assets. Instead, hold for long periods of time and stick to those good fundamentals.
Resources Mentioned:
Digital Minimalism by Cal Newport
Deep Work by Cal Newport
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