8/22/22 Dallas Mastermind Group Meeting Copy

Dallas August 2022 Key Take Aways!

Kimber Davison with Griffith Davison shared the following with everyone:

Her law firm will soon have two new offices in Fort Worth and Austin. They are currently in the middle of building out their Ft. Worth office, which gives her time to focus on the soon to be open Austin office, which will be just one block from the State Capitol.
They merged with another firm in Austin and she’s very excited to begin working with those attorneys over the next few weeks. Also, they will begin hosting REAL Professionals meetings starting next month.
Their new Fort Worth office is in a “great location on Bailey near Eddie V’s” so she is very excited about where it is located.
She’s had a lot more acquisitions over the last 60 days as well as two HUD closings which will keep her busy.

John Rhodes with Foresite Group, shared the following:

He has a co-worker who will become part of the new Austin REAL Professionals group and his San Antonio office which only had one employee when it first opened, now they are up to a dozen employees.
They currently have a Cincinnati office which also currently has one employee so they are hoping they will have the same success at this office as they had with the San Antonio office.
After months and months of trying to fill job openings in their Dallas office, they finally found three new employees, so he is very happy to be sharing that news.

Robert Gunby with RTG Capital shared the following:

His company recently purchased a marina in South Carolina, so they are currently developing the area with new boat slips and dry docks.
They currently have 30 lots across the country for tractor trailer parking. They focus on buying 10-20 acres in the DFW area as well as Charlotte, Jacksonville, Indianapolis, and other areas.
They are always on the lookout for “stabilized lots with acres of raw dirt to buy and try and keep the price point $100-$200,000/acre range”.

Laila Assanie with the Federal Reserve Bank of Dallas shared the following:

The labor market is “holding up well” but she’s still seeing a “disconnect on the Economy side”.
The job numbers are the strongest they have been in a very long time and jobs remain broad. With that being said, it all seems fine but still seeing a “slow down in the overall economy”.
The manufacturing sector had peaked over the past few months, but it has dipped back down in over the past two months.

Suzanne Johns with Only Luxury Estates Dallas shared the following:

She is in the process of becoming “Divorce real estate certified” so she has the disposition of assets from couples who are divorcing if it’s assigned through the Courts.
She is seeing a lot more subleasing occurring because it is less expensive, and the finish out is already complete in most cases.
Real estate climate has changed now that interest rates have increased.

Sandra Taylor with SL Taylor Investments shared:

They prefer buying between 5-200 B and C Grade multi-family units in areas that are eventually going to go through
They are currently working in various parts of Dallas, San Antonio, Austin, and Houston.

Cheryl Murphy with Nexa Mortgage shared the following:

She is currently working on setting up more private lending as an option to clients because she feels with the current state of the market, she needs to get a “little more creative than what’s available”. She has “money for whatever you want”!
She has handled “a lot of financing on barndominiums because people want to have a 2^nd home where to can get away and unplug”. Montana and Utah seem to be the most popular states at the moment for the clients she’s assisted.

James Smith with Smith, Jackson, Buyer and Bovard shared the following:

He’s very busy preparing for the tax return deadline which is fast approaching September 15^th. Then there are other deadlines also throughout the Fall that will continue to keep him busy.
He needs to hire “experienced CPA’s with at least 3-5 years of experience”.
He’s seeing that because the market/home sales have slowed down, more employers would prefer to have their employees working in the office as opposed to virtually from home.

Doreen Milano with Visions to Excellence shared the following:

Her company are certified executive coaches and consultants who work with companies to help get them to the next level and a point of profitability. She is a “profitability specialist”.
She also hosts a TV Show, “Big Ideas/ Small Business TV” on the OBBM Network and the links are below:

On August 25^th she is hosting “Business Round Table Discussion” focused on ideas that will work in the present day and also “epic fails” that some companies continue to do. Below is the Round Table Discussion invitation if anyone would like to attend: https://calendly.com/visionstoexcellence/business_round_table

Jenna Zebrowski with the Law Offices of Jenna Zebrowski shared the following:

She is a commercial real estate attorney focused on the leasing side.
She is seeing that the leasing demand for office space is not decreasing, if anything it’s increasing. She’s seeing more short-term flexibility, more hybrid and collaboration spaces or “hot-desking” versus dedicated office space demand.
Industrial is “through the roof so if you can get your hands on it, take it”.