October 16, 2022

JF2964: The Power of Education, Focus, & Taking Action ft. Tim Kelly

“Everybody can get educated. The ones who are taking action are the ones who see transformation.” 


Tim Kelly is the VP of Education and co-owner of Active Duty Passive Income (ADPI), which simplifies the process for active duty and veteran military members and their families to create streams of passive income. He is also the CEO and founder of Kelly Housing Group, which invests in and syndicates both residential and multifamily properties in affordable and workforce housing spaces with a focus on apartment communities, mobile home communities, RV parks, and storage facilities.


In this episode, he tells us what steps he took to transition from serving in the U.S. Navy to becoming a commercial multifamily syndicator, how he educates active-duty military members that want to earn passive income, and the tried-and-true elevator pitch that got him to where he is today. 


Tim Kelly | Real Estate Background

  • CEO and founder of Kelly Housing Group, which invests in and syndicates both residential and multifamily properties in affordable and workforce housing spaces with a focus on apartment communities, mobile home communities, RV parks, and storage facilities.
  • VP of Education and co-owner of ADPI, which simplifies the process for active duty, veteran military members, and their families to create streams of passive income.
  • Worked for 15 years in the U.S. Navy as a Chief Petty Officer.
  • Portfolio:
    • GP of 675 units
    • LP of 220 units
  • Based in: Pensacola, FL
  • Say hi to him at:
  • Greatest lesson: Always remain curious, humble, and hungry.



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Ash Patel: Hello, Best Ever listeners. Welcome to the best real estate investing advice ever show. I'm Ash Patel, and I'm with today's guest, Tim Kelly. Tim is joining us from Pensacola, Florida. He is the CEO and founder of Kelly Housing Group, which invests in and syndicates residential and multifamily properties in the affordable and workforce housing space. Tim's portfolio spans across multifamily, mobile home parks, RV parks and self-storage. He is also the Vice President of Education and co-owner of ADPI, which simplifies the process for active duty veteran military members and their families to create streams of passive income. Tim has also worked for the US Navy for 15 years as a chief petty officer. Tim, thank you for joining us, and how are you today?

Tim Kelly: Ash, it's such a pleasure, man. I appreciate the intro, it was solid, and I'm doing well, man; excited to be here and help add some value to your listeners.

Ash Patel: Awesome. The pleasure is mine. And Tim, before we get started, can you give the Best Ever listeners a little bit more about your background and what you're focused on now?

Tim Kelly: Absolutely. Like you said, I spent 15 and a half years in the Navy, coming from a suburb right outside of Chicagoland, Arlington Heights, Illinois; and all my family's from Illinois, so I joined the Navy when I was 21. And fast-forward, I was just doing deployments and going from command to command, and then around my nine or 10 year mark, I went on a long deployment, and grabbed a bunch of books and really got the real estate bug. And as soon as I got off that deployment, I invested in myself and invested in education, and just immersed myself in real estate. And that's where I quickly focused on commercial multifamily. I just was so attracted to that. The more I learned about it, the more I realized the scalability and all the benefits of commercial multifamily just were a lot more aligned with what I was looking to accomplish in real estate.

And then I just hammered down and dialed in on apartment complexes, mobile home parks, and at that point, I moved to Pensacola, Florida, transitioned here from Virginia Beach, Virginia where I was stationed before, and then I was fortunate enough to be on the Bigger Pockets Podcast in 2018, sharing my story. That's when the co-founder of ADPI, Active Duty Passive Income heard me... And I've been co-owner, and now the VP of education for that community, and I separated from the Navy, so now I'm just investing full-time. And then full-time as the VP of education, helping grow and scale the community where we're just helping past and present military members create wealth in real estate by just owning more of America, the land that they fight so hard for and sort of protect.

So I'm here, I'm also a high-performance coach, I love helping people, getting one-on-one with people to help break through their potential. And as we speak, I have a mobile home park under contract, and a lot of exciting things happening in the Active Duty Passive Income community, man. So definitely staying busy, and excited to share, man; how do you want to take this conversation?

Ash Patel: Well, listen, I'm glad you grabbed a bunch of real estate books instead of -- you could have gotten a bunch of car magazines, or just mindless reading, but you took the time to educate yourself. After that period of education, what were your action steps that you took?

Tim Kelly: I love that question, because that's what matters more than anything else, man. Everybody can get educated. The ones who are taking action are the ones that see transformation. So I really got off that deployment and I invested in myself and I got the education. And while I was educating myself, I was always putting myself in rooms full of other people who were looking to accomplish the same thing, and who already did accomplish those. So I quickly saw that, hey, every single market has a REIA, a real estate investment association. So why don't I join it? And the more and more I read about it, the more I would be excited and share with people in my work center and on the ships in the Navy, and stuff... Everybody would just look at me like "What are you doing? Who do you think you are, you could take down all these large apartment buildings and stuff while you're active duty?"

So I had to find those people who could resonate with my goals and who was also trying to accomplish, so I just chose to be very intentional with the people that I was hanging out with, the people I was choosing to listen to, and the people that I was putting myself in rooms with. So I would look for meetups, and look for real estate investment associations local to where I was living... And at that point, I was just trying to get explicitly clear on what I was trying to do.

And at first, I was learning So much about real estate, And it was like a fire hose of information. I was just going horizontal, across all the different ways you can make money and create wealth. I was learning a little bit about single families, and then a little bit about flipping, and wholesaling, and creative financing, AND small multifamily, then commercial, and creative strategies... All these different things. And I didn't get traction till I chose one. And I said no to everything else. And that's when I chose commercial and multifamily, and I said no to everything else, and that's where I was able to develop expertise, even without any experience, just so I was able to speak the language to potential partners, potential investors, brokers especially... So they started taking me seriously. And then I just was sharing with everybody else, like who I was, what I was doing, and the action steps that probably were the most beneficial was at the REIA meetings that I would go to at the time that the founder, the president of the meeting, he would allow anybody go up to the front of the room and give a 30-second commercial. I'm like, "Huh..." So I literally just did that every month; I'd go up there, I'd say the same exact thing, every single month, and share exactly who I was, what I was doing. I was focused on commercial multifamily, we're always looking to give investors double-digit returns, and extraordinary tax benefits", and I was letting them know what I was doing. Just very clear, nothing complicated or advanced terminologies; just very simple, like Barney style... More simple, so your five-year-old daughter, son, or niece or nephew could understand what you mean.

So doing that, and just sharing with everybody what I was doing, just getting excited about it, and continuing to educate myself. So sharing what I was doing, sharing my elevator pitch with as many people as possible, and then growing personally and professionally while I was learning the mechanics of real estate. Not only the knowledge, but how to communicate better, how to lead, how to influence people, how to communicate, how to have more energy. And then that kind of took me on the path to becoming a high-performance coach. But I think simultaneously growing as a person, as well as learning all the different things and the mechanics of how to invest the strategies - that really gave me an advantage, I believe.

Ash Patel: I love it. Going back to your elevator pitch... How long did it take for that to get traction?

Tim Kelly: It's like literally 15 to 20 seconds, and I can share it.

Ash Patel: Let's do it. I want to hear it.

Tim Kelly: Yeah, absolutely. And it was literally the same thing. It's like--

Ash Patel: Give me the one that you first started with. Not the refined one.

Tim Kelly: The one that I first started with is not very different from what it is today. So right now it's kind of a blend, because I've just optimized it over time... But I'd go to the front of the room, or anytime you're having a conversation with somebody, "Hey, my name is Tim. My partners and I invest in and syndicate commercial and multifamily properties in the workforce and affordable housing spaces, with an emphasis on apartment complexes, mobile home parks, storage facilities, and RV parks. We always love offering our capital investors double-digit returns, and extraordinary tax benefits, and we love looking at markets with a predictable path of progress. We're constantly looking for deals, and we're constantly looking for partners. How do you want to collaborate? What stood out to you?"

Ash Patel: Nice and simple.

Tim Kelly: Something just like that. Very simple, very clear, just very direct... And that's it.

Ash Patel: Yeah. Tim, I want to dive back into something you talked about earlier. I've got a lot of friends that are ex military that are now syndicators; I've got a lot of people that were former police officers or firemen that now are into real estate. And there was a lot of backlash when they shared what they were working on. Did you find the same thing? And you mentioned that a little bit, where they're like, "Wait, what are you doing? What do you think you're going to do?" And what are you able to convert people? Or did you just have to kind of distance yourself from the established culture?

Tim Kelly: That's a really good question, man. And that's one of the reasons why I transitioned out after 15 and a half years. I had four and a half years left until I would have gotten this glorified pension, and it didn't make sense for me to stay in, to spend the next four years doing something that I wasn't passionate about. I'd probably be on a deployment right now. I still would be active duty as we speak; I would have a couple more years left until I was able and eligible for retirement. But while I was getting into all this, I was just getting really excited. I was learning all these new things. My mind was expanding. I was growing personally and professionally. And like a lot of the people that I was surrounded by, I was excited to share it with people around, but there wasn't a whole lot of reaction. There wasn't a response that I was looking for. I'm like, "Why are these people not excited? I'm learning all these things, and I'm sharing with them..." And I naturally just want to help people. And what's interesting is that when I was serving in the Navy, one of my collateral duties - it wasn't my like main duty, but one of my collateral, side duties was a command financial specialist. I've always just had an interest in money and personal finance, so I was able to help and sit with service members through financial counseling, whether they needed it, whether they wanted it, or whether they had to go through it for their duty; say if they were going through like a special duty station, or submitting a special package. We would have to evaluate their debt to income ratio, we would have to evaluate to make sure they're not in all kinds of debt... So through that, people saw me as someone who just loved doing that. Then I would even give seminars, and I would hold certain training events on the deployments just about car buying, and just money, and personal finance, and building wealth as I was learning this stuff.

So people who were the ones who would resonate with me were the ones that asked questions with me; I would recognize the ones who I would resonate with. So those are the ones I would share my experience with and kind of share my energy with this whole journey. But for the most part, I wasn't secretive about it. If someone approached me about it, I would always be honest, and everything like that. But for the most part, it's "Focus on your mission, don't do anything else." But your military time stops at one point or another, and that's what our whole community, Active Duty Passive Income is about, is to establish this passive income and establish wealth. So whenever you do decide to get out, you won't have to go get another job and do something you don't enjoy. You'll be able to create wealth and have that financial freedom. So yeah, I hope that answers your question.

Ash Patel: Yeah, it does. So now, when you're trying to educate active duty members that want passive income, is there that mindset hurdle that you have to overcome with them? And the people that don't get it, how do you emphasize the importance of this to them?

Tim Kelly: I think military members - we are just a very rare breed, only 1% of the population will ever serve or have served. And anybody that goes through this would need a mindset shift. But in the military, it is; there's less financial education almost in the military than there is in our society in general. So that's why it was a pleasure for me to be a command financial specialist while I was in, so I was continuing to educate people. But some people get it, and some people don't. If they don't have a why, if they don't have a personal desire or curiosity about it, you can't force anybody to learn about something. But yeah, everybody has to go through the mind shift, first and foremost, in order to "Why should I look at business or investing or passive income?" And that's what the Rich Dad Poor Dad book does a great job just sharing the stories in there. And that's why I love this; it's the first book I have people read, among a lot of other different books. But I have learned that you can't force anybody to change; you have to just show the example and be the example. And now that our community has so many testimonials, almost 100,000 members this year we'll hit in our Facebook group alone, of past and present military members... And a small percentage of them are actually action takers who are joining our academies, who are in our masterminds, and who are doing deals and finding success.

So yeah, we are a rare breed man. The [unintelligible 00:12:40.26] who are interested in real estate, we all know that a certain percentage of them are just going to be tire kickers, a certain percentage of them are going to try it and fail and never do back, and then a small percentage are going to try it fail, fail, fail, and then eventually succeed.

Ash Patel: Yeah, it's cool. I love how you're trying to help the culture as a whole. And you're making progress, man; that's awesome. So let's dive back into your real estate journey. After your education, what did you start doing to get to where you are today?

Tim Kelly: Yeah, great question, man. I got off that deployment in 2015, and like I said, I went really horizontal across all these different asset classes, and I paid for education, paid for mentorship, paid for coaching. So I invested in myself, and I just had so much information. And until I focused on one, until I drilled down and chose one asset class or one strategy, that's when I got traction. And that's when I decided to consider myself "I am a commercial multifamily investor. That's it. I say no to everything else." And that's when I got more educated, that's when I was able to speak the language, that's when I got my elevator pitch, that's when I started showing up to meetings and networking with people and shared with all that were in the room who I was and what I was doing.

So before I kind of transferred here to Pensacola, I got orders. I was stationed in Virginia Beach, and I got orders to Pensacola, and I already had that decision, commercial multifamily, that I was focusing on. So I connected with people via the internet, via Bigger Pockets and different online platforms, people who were already in Pensacola. I was looking for people specifically who were investors, brokers, property managers in the commercial multifamily space. So I was building a network before I even got there. And by the time I got there, that same month I actually ended up closing on a four-unit property, because I love the house-hacking strategy, and I love teaching house-hacking to the military members. That's actually what our book - it's a best-selling book - called Military House Hack... And it's just such a great tool; the VA loan, you could buy a fourplex for 0% down with a VA loan.

So the month that I got [unintelligible 00:14:40.01] close on a fourplex, but I was focused on the large deals, and so six months later, that's when I was able to close on a 42-unit apartment complex with people that I had built the relationships with, and I was partnering with, and looked at brokers with, and I was raising capital with... And then six months after that, I did an a mobile home community here locally, not far in Alabama, that we're not far from.

8So I think the fact that I focused, and I said no to everything else, I drilled down on my education, I networked, I was constantly letting other people know what I was up to... And I was just crystal clear on my criteria. And as I was growing as a person, personal professional development, my self awareness went up. And I think it's so important to constantly improve your self awareness, and how you can add value to the deals. Figure out how you fit into the deals and fit into a team, and what you could bring to the table. So that's what I was kind of dialing in on.

And then I just started focusing in on commercial multifamily at that point, and then I joined ADPI, and I was educating this whole community, building a masterminds, building the education, and now we have our [unintelligible 00:15:41.04] insurance company and all these different things... We launched a fund, we have a conference coming up... But I think the fact that I drilled down and focused on commercial multifamily, I was able to keep my competence up, because I was teaching so much... And just still continued investing. But now I'm still focused on investing in a mobile home park, under contract with a team here in Tennessee that we're closing here in a couple of weeks, and I'm excited about that.

Ash Patel: Tim, what's the hardest lesson you've learned so far in real estate? Whether that's about deals, people, partners...

Tim Kelly: There's a lot of lessons. A couple come up that I would like to discuss. Property managers are really, really important. They are literally the face of the asset, and they are day-to-day financially responsible for the health of your assets. They're responsible for the financial health of your asset; if you're not managing the managers properly, there's gonna be things that -- if you're not inspecting what you expect, there's a really good chance that you might not be satisfied with the performance.

We've had to fire a handful of general contractors, and then also a handful of property managers along the way. So I think making sure you know that there's a track record of the property manager in the asset class, specifically in the market where your asset is, is really, really important. And then finding the right partners and team members and coming up with the expectations, and the roles and responsibilities, and the comp model, in the beginning, before you just partner, do a deal, and then you figure it out along the way - upfront, devising a plan and hashing out what are all the roles and responsibilities, who's going to do what, and how is everybody going to get compensated along the way. Having that upfront removes so many different misunderstandings and potential conflicts and aggravation, essentially, throughout the process of the partnerships. I've been in multiple different partnerships, for different deals, for different reasons... And people have life that happens sometimes, and you think that the way someone behaves, or acts, or shows up is just gonna stay consistent. Certain things happen, and you have to almost upfront prepare for the worst; expect the best, but prepare for the worst, and how are you going to handle that and have those conversations upfront before you move through the deal, before you close.

Ash Patel: Yeah, that's a great example, man. I've learned that lesson about partners the hard way. It sounds like you learned a pretty tough lesson as well about partners.

Break: [00:18:13.00] to [00:20:08.16]

Ash Patel: So going back, you mentioned having partners per deal, but defining roles ahead of time. How can you ensure that consistency? Or how do you monitor it, rather?

Tim Kelly: Knowing what you bring to the table is really important. Like I said, improving your self awareness. And sometimes until you get into a deal, and go through the process, sometimes you don't know what your strengths are, and how you should show up, and how you can add the most value to a deal. So having the conversations upfront, having a comp model that makes sense, where it's just broken down. Let's say it's a syndication and your general partnership team consists of two people or three people; well, who found the deal, who underwrote the deal, who's going to be doing due diligence, who's raising the capital, who's gonna be the asset manager, and control operations - breaking that down upfront, and then having metrics along the way is really important. And the best metric, the best measurement is obviously your financial report, and your monthly profit and loss to see if you are on track. And along the way, monitoring how things are looking, and what's trending up, what's trending down is pretty much going to be the best lag measure. But your lead measures are going to be how many meetings you should have, how often you should be sending information to your investors, how often you should be inspecting the property, and doing walkthroughs... So some of the tasks don't really have specific metrics that you could follow, but I think the numbers and the finances and the financial management report is going to be your best way to measure what really needs to be tweaked, if that makes sense.

Ash Patel: It makes a lot of sense, so thank you for breaking down in detail how to essentially measure people's performance. And I think it's really important for the Best Ever listeners - you hear the stories about Silicon Valley startups, and somebody appointed themselves the CEO, and they hired their buddy, who was going to be a CFO, and the COO... And until you do a deal together and actually go through it full circle, you don't know if these people are going to be right for your company going forward. So don't put any of that stuff in stone. Like you said, define your roles, have some measurements in place, and then debrief at the end of that full cycle, see what went right, what went wrong, and see if you want to do another deal with these people. And over time, if you have a lot of successes - yeah, then solidify your positions, solidify your company, the roles, equity, whatever. Yeah, man, I've learned that, too. Tough lessons about partners, and you've got to really put people's feet to the fire. Thank you again for sharing that. What is your best real estate investing advice ever?

Tim Kelly: Oh, man... I would say I'm a huge advocate of just mindset in general. And I would say self care is not selfish. Meaning taking time every single day to have distraction-free time, and that's what some people call the morning routine, when they literally just have 30 minutes, 45, 60 minutes to just be quiet, meditate, get a workout in, journal, and just think about what the most important things are that you need to do for the day and for the week ahead.

So creating that distraction-free time, whether it's at the beginning, whether you wake up early and get it done and it's distraction-free, or maybe it's late at night and you're just planning the day ahead... But taking time for you, for your own personal and professional growth.

And one of my favorite things - this is kind of like a time management/personal development hack, but something called the [unintelligible 00:23:57.07] ratio. If you look at all your time, the free time that you have, the education to entertainment ratio should be 80 to 20. So 80% of the free time that you have, outside of your duties and responsibilities of course, 80% of that time should be towards your growth, towards your personal development, just improving yourself and growing, and working on you, whether it's reading, meditating, journaling. And then 20% of it should be entertainment, your hobbies. And that's just as important as the 80%, and being able to enjoy the things you love.

For me, I can't live without music. I've been playing drums all my life. I'm in a band, where we get to gig and play in front of people. And I love seeing live music and playing live music... So music is my thing. And I love traveling around... And I'm actually headed to Colorado tomorrow, and I'll be at Red Rocks Amphitheater here next week, seeing a show...

Ash Patel: Who's playing?

Tim Kelly: Revolution, if you're familiar. It's a reggae band.

Ash Patel: Awesome.

Tim Kelly: EE ratio is super-helpful, but taking the time for yourself and figuring out what ratio really works for you in terms of education to entertainment; but the most successful people on the planet use that as a rule of thumb, that 80/20 EE ratio.

Ash Patel: Yeah, that certainly puts things into perspective, man. I've gotta redefine my life...

Tim Kelly: Yeah...

Ash Patel: 80% on education, I love it. Let's dive into those numbers on that 42-unit, if you don't mind. What was the purchase price?

Tim Kelly: So it was back in September of 2017. It was rough, but we got 42 units for 700k. This was just North of Mobile, Alabama. And then we wrapped about 350-ish in CapEx. It was about half occupied; it was a very distressed situation, a lot of deferred maintenance. So yeah, we purchased it for 700k, and we wrapped about 350k into the deal. So total purchase price was a little over a million.

Ash Patel: Is this the first time you raised capital?

Tim Kelly: Yeah.

Ash Patel: Was it just you, or did you have partners on this deal?

Tim Kelly: No, I found my partner online before I got here. The minute I got here, we created a partnership. It was my friend Jay and I. He was kind of like the left brain, more analytical, numbers-driven dude, and I was the more right brain, kind of the visionary, and the one that does stuff like this. And he and I found that deal through a broker, and we actually brought it to a couple guys in our local REIA that we had met going to those meetings religiously. So we actually had us two first, and then we brought two other partners who already had some experience; they had already done commercial multifamily deals. Also, two other military guys. So we ended up partnering with them, and that was the very first deal, and we all raised capital. And most of the capital actually came from our local REIA.

Ash Patel: What percentage down did you have to put on this?

Tim Kelly: It was local bank recourse, and I think we put 25%, so 75 LTV, if I'm not mistaken. It was like five and a half years ago; we exited out of that two years ago.

Ash Patel: Yes. Roughly raised about half a million dollars?

Tim Kelly: Yeah.

Ash Patel: How did you get the broker to give you this deal when you guys were unestablished?

Tim Kelly: That's a great question. The fact that we were educated, when I decided to just say no to everything else, and focus on commercial multifamily, we could speak the language. And some brokers are gonna screen you and evaluate you, but if you have the energy and the confidence and share with the broker crystal-clear criteria, like "This is exactly what I'm looking for. This is what we're doing." And the fact that he sent us multiple deals, and we gave him feedback on all those deals... He's like, "Okay, well, these guys know what they're talking about." He did not know where the money was gonna come from. We knew we were gonna have to raise it, we knew we had an idea of who we were gonna be able to partner with... But I think providing the feedback and proving to the broker that you have the capacity to close, that you know what you're talking about, I think that really convinced him to continue sending us deals. And then we ended up getting that deal, the numbers made sense per our analysis, and then we found a couple partners who had already done deals, they already had a local lender relationship, so they already had the debt secured, and they already had some investor relationships, and we just raised the rest of the capital locally, from friends and family. It was a 506(b) syndication.

So yeah, I think it's just through religious feedback, and letting them know -- even if you don't have any experience, you have to have the faith in yourself and define yourself as a commercial multifamily investor. And if you can't, it's gonna be hard for brokers to take you seriously. It's gonna be tough for investors to take you seriously. So figuring out what you need to do to have the faith... And usually, that's education, education, education, networking, and then things start making sense in the way you speak about it. And if you're engaged in conversations with it, it just rolls off your tongue and you sound like you know what to talk about, even with no experience. So that's probably the biggest thing, is just giving the broker feedback, and the fact that we were educated, letting them know exactly our crystal clear criteria, and that we knew what we were talking about... That's probably what did it.

Ash Patel: Yeah. And I want to emphasize that again... It's so important. One, sound like you're not going to waste the broker's time. If you don't have your questions written down ahead of time, you're wasting their time, right? And if they're not rehearsed, they're not going to take you seriously. But then what you mentioned about feedback... So important. Imagine a broker sends you three or four deals, and they don't hear anything from you, because the deals suck. Well, if you tell them why the deal isn't right for you, they can then refine their approach. You're on the forefront of their thoughts, because you gave them that feedback. You're probably one of a single digit percentage of people that actually gave them the feedback. So great way to separate yourself from the herd. What was the exit on that 42-unit? Do you remember?

Tim Kelly: In terms of...

Ash Patel: Price.

Tim Kelly: ...purchase price... I think we ended up selling it for 1.9. It was like triple digit returns for all of our investors. It was rough along the way. We didn't really take any money. We had to actually invest a little bit of our own personal funds back into the deal throughout the deal... We ended up firing a property manager, and firing a couple GCs... But yeah, we exited eventually and it ended up being a pretty solid return for everybody.

Ash Patel: Tim, what's the biggest thing that went wrong in that deal, and what's the biggest thing that you guys did wrong on that deal?

Tim Kelly: I would have to say we couldn't really control this... While you're under contract to sell -- we were literally under contract to sell it, and I don't know if you remember back in September of 2020, Hurricane Sally came through the panhandle, and literally completely destroyed the roof of that. And luckily, we had good insurance, and that kind of saved our butts... And then the buyers ended up actually not complaining, because they got a new roof out of it before closing... But I would have to resort to the property manager, and that was my first deal, and we thought we vetted the property managers... But the biggest risk that we took was that this property manager specifically, they had only single-family rental management experience, but they were so convinced, and they were so fired up to scale into multifamily... So they convinced us that they would be able to learn what is different about residential. So we were kind of like their beta test; we were their crash dummies.

So that was the biggest risk that we took... And that's why earlier I mentioned, make sure that whatever property manager you're going for already owns and operates assets that you're looking to have manage, and in that same market, and they understand the tenants.

So probably the biggest mistake was hiring that property manager, but we couldn't find any quality -- they were probably the best that we interviewed from what we thought... But yeah, we had to switch gears, so that ended up being probably our hardest decision; we lost thousands of dollars doing that.

Ash Patel: Yeah, I get though that you want to give somebody a chance. It's like looking in the mirror, man, on that first deal. You want that broker to give you a chance... And I'm sure the property management company had the same energy and determination that you probably did, or close to it. And it would have felt really good if they had made it, and they killed it, and now they're big-time property managers... But it didn't work out. But I get that; you gave them a fair shot. Tim, are you ready for the Best Ever lightning round?

Tim Kelly: Yeah, man. Let's do it.

Ash Patel: Alright. What's the Best Ever book you've recently read?

Tim Kelly: Not finished with it yet, but one of my buddies, I'm in a mastermind with him - Jason Drees, Do the Impossible. It's actually Bigger Pockets publishing. All about mindset... He's another performance coach, great guy. So I highly recommend the book, Do the Impossible.

Ash Patel: And Tim, what's the best different way you like to give back?

Tim Kelly: Every time my band plays, we actually donate 100% of our tips to two different organizations. Number one, the USO, which is United Services Organizations. It's a military nonprofit. They're in most of the airports and they have centers all around the world, where it's like a home away from home for military members. And my wife actually used to run the center here in Pensacola. So we donate half of our tips to the USO, the military nonprofit, and we donate the other half to CRI, which is Children's Rescue Initiative, that helps combat child trafficking around the world.

Ash Patel: And Tim, how can the Best Ever listeners reach out to you?

Tim Kelly: If you're listening and you're past or present military, whether you're serving or you ever have served, or if you're a family member or a military spouse, definitely check out Active Duty Passive Income. I'm hanging out in there all the time. I'm the VP of education. So in the Facebook group, and just around that community... We have a huge conference coming up in October which we're super excited about... But for anybody else, LinkedIn. I'm on there pretty much daily. It's @theTimothyKelly. Instagram, also @theTimothyKelly. And my website is theTimothykelly.com. But if this is resonating with you, and you just want to connect, just shoot me a text and we'll just schedule a call. You can reach me at 847-910-9161.

Ash Patel: Tim, I've got to thank you again for your time today. Thank you and your family for your years of service and your sacrifice, and the story of how you just relentlessly educated yourself, took action and made a great life for yourself. Look where you're at now, and there's great things coming from you in the future, so thank you again.

Tim Kelly: I appreciate it, Ash. Have an amazing day, brother.

Ash Patel: You too. Best Ever listeners, thank you for joining us. If you enjoyed this episode, please leave us a five star review. Share the podcast with someone you think can benefit from it. Also, follow, subscribe and have a Best Ever day!

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