In today’s episode, Grant Reeves, the managing director and co-founder of Stoic Equity Partners, discusses his background and the focus of his company, which is commercial real estate investment in the Southeast. He explains their value-add strategy and their shift from self-storage to flex industrial properties due to supply constraints in the market. Grant also talks about the challenges of finding deals in the current market and the importance of vetting deals thoroughly. He shares insights on lease terms, tenant diversity, and the communication and reporting process for investors.

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What’s Covered In This Episode

  • In this episode we’ll cover:
    • Stoic Equity Partners focuses on commercial real estate investment in the Southeast, with a value-add strategy.
      They shifted from self-storage to flex industrial properties due to supply constraints in the market.
      Thoroughly vetting deals is crucial in the current market, and Stoic Equity Partners emphasizes transparency and accessibility for investors.
      Lease terms for their properties are typically three to five years with annual rent increases.
      Tenant diversity is important to mitigate risk and avoid overexposure to a single sector.
      Investors receive quarterly reports with updates on property performance and financials.

Connect with Grant: 

https://twitter.com/reaves_grant / https://www.linkedin.com/in/grant-reaves-69876163/

Resources 

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Read The Transcript Here

Trevor Oldham (00:01.866)
Hey everyone, welcome back to the REI Marketing Secrets Podcast. Today on the show we have Grant Reeves. Grant, for our audience out there who’s just learning about yourself and your company for the very first time, do you mind going into a little bit about your background?

Grant Reaves (00:15.21)
Yeah, for sure. Thank you for having me on today, Trevor. So my name is Grant Reeves. I am the managing director and co-founder of Stoic equity partners. We’re a commercial real estate investment firm based in Daphne, Alabama, which is kind of near mobile down the Alabama Gulf coast. Uh, we primarily invest in multi-tenant flex industrial in the Southeast. Uh, we have a value added strategy that we perform on those deals. We have also done a few self-storage deals.

as well as a little bit of development, but primarily we buy value ad flex in the Southeast is kind of what we do. Jeremy Friedman and I started the firm in 2020. We were both commercial real estate brokers prior to that. And we’re long-time friends and kind of through COVID had a little bit more time to get together and start talking about putting together the framework of starting our own firm and through that Stoic Equity Partners was born. He had a deal that he was looking at and didn’t fully.

know how to structure it. And I was looking at starting to do my own syndications at that time as well. So it was kind of just good timing to, um, for us to start talking. And, um, so the first deal that we did was actually the building he had an idea on, but it was a, uh, 45,000 square foot office building that at the time, um, the plan was to go in and get the office tenant to renew their lease and be able to flip out of it for lower cap rate. Um, that was about the time when COVID started. And so, um, that did not come to fruition. And instead they.

Paid us a big check to get out of the lease and we turned it into self-storage. So that’s kind of how we got started. Um, yeah. And so from that deal, we’ve gone on to do, I guess, a total of 13 investments through syndications or funds and, um, at about, I guess, right under $90 million worth of assets and, um, I’ve done about, I guess, 900,000 square feet.

Trevor Oldham (01:47.44)
That’s super interesting.

Trevor Oldham (02:04.79)
Wow, that’s a good chunk of property. But just curious, there’s obviously a ton of different asset classes in real estate. You could have your, like you guys, your flux industrial, you could have your multifamily, you could have your mobile home parks. I mean, there’s any number of asset classes. What jury to this particular asset class over the other asset classes?

Grant Reaves (02:07.755)
Hehehe

Grant Reaves (02:23.178)
Yeah, so we kind of fell into self-storage a little bit, primarily just based on that first building. We didn’t really have, we know we didn’t start out to be like a multifamily fund or self-storage firm or whatever. We kind of just found that first deal and had a really good basis in it. So ended up in self-storage that way and did a few more deals in self-storage. Did a total of four of them for, I guess, about 200,000 square feet over four assets. But we pretty quickly saw that storage was getting a little tight and there was just so much supply that had come in on the market.

Um, especially in the markets that we play in that are kind of the Southeast growing markets. And everyone kind of saw that play as like either you’re in housing or you’re in self storage, but those were kind of what people were building at that time. So, uh, I guess in early 22, we started to see that trend kind of get to the point where like, I mean, I think the self storage is a good asset class and it’ll do well. But for us to be able to scale and scale quickly, we needed to be able to run. And we couldn’t really do that in self storage. It was hard to make numbers work. And then they started up being interest rates and it just for us became next to it possible.

So we really started looking at just what are the other supply constrained markets. Cause that’s really the biggest thing in the real estate, just like any investing in supply and demand and, um, flex industrial, we just knew from our brokerage days, there was just not a lot of office warehouse around available for that smaller say three to 10,000 or really three to 5,000 square foot user of, of an office warehouse suite. Uh, and then the more we dug into, we found more and more of, of kind of the, um,

Evidence that there just wasn’t enough supply to meet the demand. And on top of that, the further we looked into it, you can build the product and be able to make it cashflow at today’s construction prices and today’s rental prices. So it was kind of just, um, the perfect storm of, of both continuously wrench rise, which is what we’re seeing right now, because if you don’t have enough of it already, you can’t build new product and demand continues to increase as these markets expand. You’re just going to have to see rates continue to bump up. And so that’s kind of where we are.

And so that’s how we ended up here. I think that any asset class, I mean, as long as it’s under supplied and it’s hard to build new of it, then it’s in demand and the rates will continue to go up, which is where you want to be.

Trevor Oldham (04:32.39)
Yeah, and I definitely agree with that. I’m an investor in a couple of different deals and, you know, I’m in a multifamily deal and I’m a triple net lease deal and not that it might be exactly the same with Flex Industrial, but I like the triple net lease opportunity. At least for me, stable cash flow, it’s the one I’m in, it’s not a value add deal. It’s just your corporate grade A tenants you’d think like AutoZone, Dollar General, those different types of tenants, but I like the stable cash flow aspect of that play. But curious, when I’m looking at like a multifamily deal per se.

Grant Reaves (04:51.82)
Yeah.

Trevor Oldham (04:58.91)
a lot of the times it is value add and it just makes sense. You look at it below market rents, units haven’t been updated in 10, 15, 20 years, however it may be, it makes a lot of sense on that end. When you’re doing a value add deal in the flux industrial space, what does that sort of look like on that end?

Grant Reaves (05:14.102)
It’s pretty similar to multifamily really. It’s a lot of legacy owners that you’re buying from. So it’s kind of similar to that, that I guess C to B kind of multifamily value ad play. Um, so a lot of stuff that you’re buying is say legacy assets from, from owners that bought it in the early 2000s or nineties and their basis is so low that their rents are, I’m just using examples here, but four or $5, $6 a foot markets anywhere from eight to 12. Uh, but it’s going to require a few hundred thousand dollars of renovations or

have a million dollars of renovations to be able to get to market rent. They don’t want to come out of pocket. Um, you know, they might have asset paid off. They don’t want to come out of pocket to go renovate this property, be able to bump up rent. But for us, we’ll come in, buy it with the construction loan, have that renovation money built into our model and go ahead and do those renovations, turn over the rent roll and be able to get it, get it to market relatively quickly, quickly. Um, that is the nice thing. And what we do is, is because of so supplies constraint.

that you do have pretty good tenant retention. I mean, it is a hard conversation when you go in there and you have a tenant that was at 475 a foot and you’re taking them to 850. That is a tough conversation, but also at the same time, if the market is 850, like it is in that example, it’s kind of like, hey, you can either pay us 850 and not have to move, or you can move down the street for the same space, have to pay to move and still pay 850. And so it’s a pretty easy sell on that side.

Trevor Oldham (06:33.146)
Yeah, that definitely makes sense. And it’s just crazy to me how many mom, pop owners you find, you know, whether it’s multifamily, whether it’s flex industrial. I’m just thinking of like, I’m going to sell storage deal and it’s like, they haven’t updated like the prices in like 15, 20 years. It’s just like, I think it’s the people are paying like, you know, for like a 10 by 10 unit, like 30, 40 bucks. And I don’t know what it is in Alabama, but in New York, it’s like, that’s, that’s insanely, that’s insanely.

Grant Reaves (06:40.235)
Yeah.

Grant Reaves (06:48.426)
Yeah, it’s crazy.

Grant Reaves (06:58.506)
That’s crazy. Even in Alabama, which is definitely not New York, a 10 by 10 still for a decent facility is 90, 100, 110 bucks. I mean, that’s still a big delta there.

Trevor Oldham (07:09.386)
Yeah, it’s pretty crazy to see, but curious, how’s the business been since you started back in 2020? And again, I’m just thinking about it from a multifamily lens where a lot of folks got crushed and you could look at it, they had 80% LTV, they had the floating cap rates, more took on quite a bit of bridge debt. And you could just see now looking back, you can see, okay, these were the problems where it occurred, but how has your business fared since the start of pandemic and obviously with interest rates rising?

I don’t think anyone expected it to go as quickly as it did, but curious how your company has handled that and the rising rates.

Grant Reaves (07:45.418)
Yeah, it’s definitely been interesting. So we did our first deal. So we started the LLC in 2020. Jeremy and I were still brokers at the time, so we didn’t start actually doing deals, I guess we closed that first deal July of 21. Um, so we’ve been doing deals for just under three years now as Stoic, but, um, but very fortunately we never took out any, any floating rate debt. Um, we always fixed everything. We saw a lot of, um, a lot of risk on that side. And obviously that’s about the time where.

Trevor Oldham (08:06.932)
Mm-hmm.

Grant Reaves (08:14.434)
They started up in interest rates, the yield curve inverted. And so there wasn’t really a huge offset to float it. So, I mean, you might be getting 6% floating versus a six and a half fixed. And it just wasn’t worth 50 dips of benefit to take that risk to us. So we’ve never floated any, any debt, which has been monumentally a great move looking backwards, obviously. Um, and then it has become just more and more difficult to buy stuff though. I mean, I think that’s the biggest thing is that.

There are so many owners that have long-term low interest rate debt. I mean, it’s not everyone’s talking to my wife about this other day on our personal home kind of a side story, but we have like a 2.75% interest rate. And I’m like, I’ll die in this house or at least keep this house forever. You know, like, and so you look at that and even on the commercial estate side, right, there’s so much inventory that has been taken out of the market. Just because all these owners have such great debt in place fixed that until we started to see that turn, it’s going to be really interesting, but fortunately not being a multi really, really helped.

not get crushed as bad just because I feel like the multi product, the fundamentals are definitely there. They’re still there for housing. America is under supplied in housing. But at the end of the day, that model of floating bridge debt to be able to get to agency or HUD just got on the wrong side of the trade, which is a shame. But I think long term that most operators will come out the other end. Okay. But it will be interesting. But on us specifically, back to that, really the biggest thing is just deal flows.

It’s hard to make work. You have to get very creative on how to structure deals how to be able to put them together And also just talk to a lot of owners So we have really good analysts that talks to a lot of a lot of owners a lot of brokers Just to go through a lot of deals because you still have a lot of people out there That they would love to sell they’re going to sell the six and a half or seven cap And you know, maybe stabilize year three you’ll only cost at eight And if your debt’s eight and a quarter eight and a half fix this just doesn’t

doesn’t work. I mean, you can’t stabilize to negative leverage, right? Like you need to be able to stabilize to 10, 12%. That is really the hardest part of the rising interest rate environment for us.

Trevor Oldham (10:20.002)
And I like that aspect at least, even though if it’s harder to find deals, you’re at least vetting these deals and taking a lot of time to go through them. And I found different operators within the space where it feels like they’re almost having a new deal. It’s almost like once a week. And you’re like, did you actually vet this deal or are you just doing it to get the acquisition fee? And I’m perfectly fine. I’m happy to pay an acquisition fee. And I know all that goes into it. But it also just scares me sometimes where it’s like, okay, you found another new deal you’re raising again this week.

And not to say like they’re not a good operator, it just scares me sometimes when I just wonder like, how good did you actually vet this deal? So it is good to hear that you have a good team of analysts going through and checking out these deals. And with that.

Grant Reaves (10:58.934)
Yeah. And we have started to track that actually. We put that like in our monthly newsletter and stuff. It was like how many deals we reviewed? How many we under wrote? How many offers we made? How many deals we actually put under contract? Um, because we had LPs come to us and ask the same question because a lot of times when you’re reaching out to LPs, the only thing you’re talking to them about is like, Hey, I have this new deal. So to them, even if, even if it’s not every week, let’s say it’s every other month.

Trevor Oldham (11:02.722)
Oh wow.

Grant Reaves (11:22.006)
Which isn’t a ton, but it’s a lot. Then if that’s the only time you talk to them is you have a new deal. Every time you talk to them, that it’s going to seem like to the LP that these guys just are just taking everything that they can, but then when you start to peel back the layer and you start to show like, here’s all the deals that we looked at, here’s all the ones we underwrite, here’s all the deals we’ve made offers on the, here’s the ones we bought, you know, and kind of show that funnel. It definitely helps. We actually had an LP who had an exit from a company. So he had a little bit of time and just liked real estate. So he started like poking around a loop net and stuff like that.

And, and by trying to help us find deals, which is great. You know, it’s just, just helping out, but every deal that he would send us, I’d be like, we’ve seen this, this is why we don’t like it. This is why we didn’t make run at it. This side and the other. And it took them about a month to finally be like, all right, so if I find anything, y’all have already seen it. I’m like, we, we try to think so, you know, it’s like, it’s, you gotta stay on top of that. But now I totally agree with what you’re saying. And it is one of those where you want to be careful not to look like you’re, you’re not really vetting those and really digging deep into them.

because that’s the big part, right? Like everyone can scale really quickly. It’s about being in the business 10 years later, not today, right?

Trevor Oldham (12:24.954)
Yeah, exactly. But I’m curious on your deals themselves that you’re finding and you’re going out there when you’re putting together Let’s say you’re raising capital for the deal 25 50 100 K Whatever that number may be is it more of a single asset allocation where it just say one flex industrial building or is it? You know, you’re finding one in Alabama and then you know your other markets that you mentioned earlier Is it more of a fun model or is it more of the single asset allocation or is it just like a mixture of? You know both of those

Grant Reaves (12:52.726)
So it’s actually both. So we started off just syndicating. So the first 10 deals that we did were just true traditional syndications where it would be a single asset, $50,000 share prices and just raised from there. Last, I guess Q4 of last year, we did start a fund, which is just a Flex Industrial Fund aiming to raise 25 million. We’ve raised seven and a half in that vehicle. And so what we’ve kind of done with that though,

I don’t know if this is unique, but it’s worked really well for us is, is there are certain investors that like funds. And then there are some investors, especially larger investors that prefer single assets and like directly investing in something. So what we’ve done is taking the fund and let the fund invest a portion of the capital and then bring in pair of pursuit, direct investors into the same deal. So it kind of can offer both of those and it keeps the cashflow the same because it all just splits down for a rata, but that allows the, the. Fund investors to get involved in maybe bigger deals that would over

over allocate or maybe if we don’t have the funds raised in the fund yet to be able to take down that deal. And also it gives some of those investors the ability to be able to go directly into a deal because that is an interesting thing there are, and it does seem like sometimes the smaller check writers, like said, the 50 to 200s, which are, which are great. And like, we love the smaller investor, but like a lot of those guys, maybe they only have $50,000 to invest in private real estate period.

Well, fund was probably a better fit for them, right? Like you can diversify risk, you can diversify your opportunity, go out geographically. Um, but a lot of the larger kind of fund defines and, or larger family offices that are writing million dollar plus checks, they really want to see that single asset know exactly what they’re investing in and go directly into that one deal. So it’s kind of good to be able to have both to be able to offer, offer everyone. Right. Cause I mean, this game is as much raising equity as it is real estate. And so you don’t want to.

Don’t want to pigeonhole yourself, I feel like in one or the other into a situation where you’re like, well, we only do funds. We understand that you want to write a $2 million direct deal, but we don’t want to. Yeah, we we’re not in a position to turn that away. Some other operators might be, but we like to make it work for however people like to invest.

Trevor Oldham (14:56.39)
Yeah, no, that definitely makes sense. I’ve spoken to a lot of different sponsors and operators and I don’t think I’ve ever heard of anyone doing it that particular way. Usually it’s just one or the other, either. It’s a single asset, whether it’s just the fund model. So that does make a ton of sense because if someone’s coming to you and they say, hey, I want to get into one deal, I have a $2 million check. It’s not like you want to turn them away if they like what you have to offer. So that makes sense on that. And then when it comes to the typical return someone could expect, is it…

I’m just spitballing, I’m just throwing numbers out there. Is it like a 12 to 15% IRR, maybe 8% preferred? What does that look like or does it vary depending on? Let’s just say you had like, again, just spitballing income fund one, and then you close that deal, then you have income fund two. How does that look like on your end?

Grant Reaves (15:42.294)
Yeah, so the funds target overall is a 15 plus IRR net to the investors, average cash on cash and quarterly distributions of seven to 8%. Now it’s a value add fund. So your first couple of years are going to be more like that four to 5% range. Your last couple of years would be like nine to 10% range. And that’s going to average back into that, say that seven and a half kind of range on the single assets. It can be a little bit more varied. We’ve done stuff, just thinking of the last three that we’ve done that the fund actually has investment symbol. We also have direct investors too.

We have one that’s just over 8% cash on cash return average throughout the life. So it pretty much starts paying dividends immediately and the total IRR on that deal those around 14. Uh, and then at the same time, we have a deal that is a 5% cash on cash, but like a 23 IRR and the first two years were 0% cash on cash just because it’s such a large value add. So it’s, those are kind of the two ends of the spectrum. So like a eight and 13, 14 IRR or like a four to six and 20 plus IRR.

any variation there between.

Trevor Oldham (16:44.534)
I think that’s definitely good to know and then for those are the members of the audience are interested and we guys have to offer Are you guys credited and not accredited? What is that? They’re taking accredited non-accredited investors All accredited

Grant Reaves (16:55.859)
We are all accredited. We don’t take any non-accredited right now. We’d like to figure out a vehicle maybe one day for that. But just for the laws and the red tape, it just makes life a lot easier right now just to take accredited. And then, yeah, so that’s how we do it.

Trevor Oldham (17:13.986)
It’s definitely good to know it. It’s always sad, not sad, but you know, when someone, like I come across deals so I’m not accredited myself, so like when I come across deals I want to invest in, I’d rather know beforehand whether they take the credit or not accredited, because I’ve been on, and that’s like usually, I’m talking to a sponsor, like the first question I’ll ask, because it’s like, I could fall in love with your deal, like what you have to offer, but if you don’t accept, not that you don’t accept me, just the way you structure your deals, that you know, I always like to know ahead of time.

Grant Reaves (17:38.859)
Yeah.

Trevor Oldham (17:41.622)
But to circle back a little bit.

Grant Reaves (17:42.61)
And hopefully those laws will get easier over time on the non-accredited because I do think that private real estate investing is a great investment tool for anybody. And I think that it’s silly to, to alienate that much of the population personally. Um, and so I think that, you know, like I said, like we would like to start taking more credit, non-accredited investors and be able to have a better vehicle for that, um, because that’s definitely a need in the marketplace. And, um, definitely a lot of potential. I feel like in a lot of places that we could, we could help a lot more people.

Trevor Oldham (18:12.85)
then it’s been frustrating to me because I’m in four deals and I had to, a ton of sponsors had to do, a ton of due diligence. I mean, I get the protections there because you don’t want someone just blindly like, hey, here’s 50K on my money without knowing what they’re investing in, but it’s still frustrating. I think the SEC was working on some sort of test you could take to pass it. And there’s some, I could go through, I could get a Series 65, go through that whole process, but I’m like, I don’t know if I want to do that. And there’s a company that does it.

Grant Reaves (18:36.225)
Mm-hmm.

Trevor Oldham (18:40.706)
but you have to pay like 500 bucks a year and then they’ll set you up as like an LLC thrower, however they do it, so it looks like you’re actually running a company so that you can always renew your, I think it’s your Series 65, so that way you can be accredited, but.

Grant Reaves (18:51.382)
Yeah, I think if you’re either a 7 or a 65, I think that’s accredited. But yeah.

Trevor Oldham (18:55.134)
Yeah, I get-

Yes, that one’s interesting, but to me it was just like, I don’t know, the 500 bucks just eats into the returns, especially on the returns where my more aggressive deals, like you mentioned, I’m getting like four to five percent the first couple of years. It might be 200 bucks a deal. So you have to kick off 500 for the year. It eats into it a little bit. But I’m curious when it comes to these deals themselves, I know you mentioned the tenants who come in, you have the value add process where maybe you bump up.

Grant Reaves (19:12.276)
Yeah.

Grant Reaves (19:16.398)
for sure.

Trevor Oldham (19:24.302)
you know, 475 a square foot to 850 or whatever that number may be. When it comes to like the lease term, I’m just thinking more so from the triple net lease side, like we’re coming in, you know, five to six year leases with these corporate grade A tenants, you know, built in rent increases. Is it similar on that side of the shorter term leases, longer term leases? What does it look like? Or is it more just vary by location?

Grant Reaves (19:47.162)
Yeah, it’s usually more three to five year lease terms and they do have annual bumps. So most markets right now we see 3% bumps. The Atlanta Metro, you can get more like four, even 5% annual bumps. But for the most part, we see 3% bumps just kind of market these days after the inflationary process we’ve been in the past couple of years. They are triple net leases, most likely. I mean, we do own some that are modified gross facilities, but for the most part, you want to be triple net leases. And yeah, I mean, we have…

We have corporate grade tenants, but we also have a lot of, a lot of kind of local or regional kind of like HVAC company or like a general contractor or something like that as well. So it’s, um, it’s kind of a game, but then also we have like Terminix or Tyson foods or FedEx or, um, like those kinds of larger, larger tenants as well. So it’s kind of a very wide range of your tenant base, which is great. Cause it also makes you not too, too heavily sectored into one asset or one, one sector. Right. So like.

If construction completely goes away, that would hurt our business, obviously, because we do have a decent amount of construction tenants, but it’s not 100% up. So you still have other ones that you can kind of lay that risk off all by diversifying out your tenant base.

Trevor Oldham (20:58.49)
Yeah, I think there’s a ton of different interesting tenants out there. I know in the DLMN we have like a vet office, which is interesting. It’s, it’s crazy. You think it’s like your local mom and pod vet office, but then they’re owned by like this billion dollar corporation, you know, a private equity firm came in and then bought the, bought like your local vet office. But I mean, they keep it the same, the same vets there, the same name. It’s, it’s pretty crazy. I think near me, I saw about a year or two ago, a year or two ago, this guy. I don’t know how he did it, but he was offloading a portfolio of buildings where the post office was being rented out.

So that was pretty interesting where he owned like 10 or 15 buildings where the only tenant was the post office. To me that just seemed too risky because who knows if the mail is going to… I know they always have funding issues where they might cut back how much they deliver but I thought that was an interesting portfolio where he only owned post office buildings or renting out to those tenants. But let’s say someone is listening to this conversation and they like what you have to say.

Grant Reaves (21:26.701)
Mm-hmm.

Trevor Oldham (21:53.878)
let’s say they are ready to invest and then they’ve invested in the deal, what does that communication, that’s from the communication standpoint look like? Is it monthly reporting? Is it quarterly reporting? Is there, just curious what someone could expect after they were to invest with your company.

Grant Reaves (22:09.01)
Yeah, so it is quarterly reporting. So we show kind of our typical quarterly update will be recent pictures of the property. If we did any renovations recently kind of showing what we’ve been doing, a page that’s kind of going through here’s what the leasing activity looks like. Here’s what the renovations we’ve been doing. Here’s some tenants that are not renewing or are renewing and kind of just an overview of what’s happening. We then show NOI revenue, full rent roll, P&L, balance sheet.

of each investment and then like I said, they’re sent out quarterly. So we always make sure to send them out. Like right now it’s April 9th, I guess we’re, we’re filming this. So we will get out all of our quarterly for Q1 by April 30th. So the reason for that is we use third party property management. So we don’t get the property managers, um, financials for the prior month until like the 20th of the month. So then it gives us like 10 days to be able to go through, put all that into our forms.

upload them into we use Juniper Square as our investor portal and put it up into Juniper and then be able to send it out to everyone. We also distribute quarterly for cash flowing assets. So we do direct with their ACH payments. It’s kind of how we do that. We always make sure to be very transparent and very available. We my personal cell numbers on everything, my personal emails and everything. So as Jeremy, so if anyone is an investor of ours, you know, while they do only get

quarterly, we’re also always available if somebody sees something or has a question or something like that. We always make sure to be very accessible because obviously if someone is invested with you, they need to be able to contact you really easily and get back to you very quickly. So we make sure to not have any layers of protection there or anything like that.

Trevor Oldham (24:00.272)
the

Grant Reaves (24:14.732)
Yeah.

Trevor Oldham (24:21.742)
Myself when I’m looking at them just to make sure they pencil in and I’ll have questions from there so I just won’t even get an answer back and Definitely, you know that definitely scares me and turns me off as a as a passive investor, but Jeremy I want to

Grant Reaves (24:28.46)
Yeah.

Grant Reaves (24:34.154)
Yeah. And I’m sure that there’s somebody listening to this saying that then I’m sure that someone felt through the woodwork, unfortunately at some point, I probably did not respond to such a shit up, but, uh, that’s definitely something we try to stay on top of when we use CRMs and that kind of thing to make sure that people are getting responded to and that kind of thing. Cause it is interesting, right? Like you started off your firm and you’re reaching out to everyone cause you know them all. It’s all friends and family. And then when that tie starts to turn and people reaching out to you, um, you do want to make sure that, that everyone’s getting that attention and everyone’s

questions are getting answered and getting answered fully and that kind of thing. So that is something that we’re putting a lot of emphasis on right now, just to make sure that there is a point of contact and people know who to contact and make sure that those people are getting responded to.

Trevor Oldham (25:16.978)
Yeah, that’s definitely perfect to hear. But Jeremy, I want to say that I really enjoyed this interview today. And for our audience out there, if they want to learn more about you or learn more about Stoic Equity Partners, where should they go to?

Grant Reaves (25:28.766)
Yeah. So our website is stoic ep.com. So it’s S T Y C E P.com. My email is G Reeves. So G R E A V E S at stoic ep.com. And, um, I’m also on Twitter as Reeves underscore grant. Uh, but yeah, any of those, I’m also on LinkedIn. I do not know my LinkedIn handle, but you’re welcome to search me there. I love to connect with you on LinkedIn. And, um, yeah, those are the best ways, but email is definitely the easiest way. Um, or through, I think we have a contact us kind of.

page through our website as well.

Trevor Oldham (25:59.854)
Awesome. I’ll make sure to include that in the show notes of today’s episode. And again, thank you so much for coming on.

Grant Reaves (26:04.928)
Yeah, thank you for having me.