Today on the Book More Show, we're talking with Trisha Talbot of Doc Properties to explore the synergies of healthcare and property investment and how she's using her book 'Essential' to start a conversation with the investors she can best serve.
With over two decades of experience, Tricia shares the field's potential for both returns and social impact through facilities that elevate care optimized by telemedicine trends, and we cover why the asset class attracts stakeholders seeking stability and community benefit.
Trisha's book is an invaluable resource to the investors she works with, outlining the benefits of these opportunities, such as long-term leases and triple net arrangements.
It's a great example of understanding your clients' motivations and creating a book that provides value to start the relationship.
SHOW HIGHLIGHTS
- Stuart introduces Trisha Talbot from Doc Properties, highlighting her expertise in healthcare real estate investment and the purpose-driven opportunities it presents.
- Trisha discusses the critical role of healthcare properties in society and how impact investing in this sector can benefit both society and investors.
- We examine the effects of telemedicine on healthcare, noting the potential for specialized facilities to provide improved patient care and efficiencies.
- Stuart shares insights into the medical office asset class, emphasizing its stability and the deeper connection investors can have with their investments due to social benefits.
- Trisha explains the advantages of long-term leases and triple net arrangements in medical office buildings for landlords and tenants.
- The importance of educating potential investors about the value of medical office assets is highlighted, along with Tricia's book as a foundation for understanding this asset class.
- We delve into the importance of personalizing investment strategies to individual needs and market conditions, using education as a starting point for engagement.
- Trisha outlines the characteristics of the ideal clients for medical real estate investments, primarily accredited investors with a vision for tangible assets.
- The discipline required to write a book is explored, including the process of planning and writing, as well as the importance of resonating with the audience.
- Stuart and Trisha wrap up with a promise to reconnect in a few months to follow up on progress and encourage listeners to check the show notes for further information on obtaining her book.
Show notes & video: 90minutebooks.com/podcast/164
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Trisha Talbot Contact Information:
Website:Doc Properties
Email: [email protected]
LinkedIn:LinkedIn Profile
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TRANSCRIPT
(AI transcript provided as supporting material and may contain errors)
Trisha: I wrote the book to sort of to provide it from an investment angle of this is how the asset class, like, this is kind of an overall description of the asset classes is why it's important.
And these are the mechanisms, the financial mechanisms of why it can be so successful. And the long term leases are are the primary. Um, reason why this asset class is so successful
Stuart: eHy everyone, welcome back to another episode of the book more show. It's stewart bell here, and today I'm joined by Trisha talbot. Trisha, how you doing? I'm doing well, thank you. Thanks for having me. pleasure, I'm excited to share this journey with people.
As we get a chance to share author stories with people, I think it does a couple of hopefully it does a couple of services for people. One, it kind of reminds them that, hey, this is something that they should do as well. But two, it really kind of highlights the different paths and approaches that people bring to the project. We always kind of we've all got the same outcome of trying to start conversations with people and we're using books as that mechanism. But how we each get to that point, or or the the steps we take through the process, it's, but how we each get to that point or the steps we take through the process, it's unique for each individual person. So I'm excited to share your journey. So why don't we start at the beginning and give people a bit of background about who you are and the organization?
Trisha: Sure, my name is Trisha Talbot and my company is Doc Properties. It's a healthcare real estate investment and advisory firm. So I'm coming out of the brokerage side of the business. I'm having about 20 years of experience doing every type of transaction, but specifically well, I'd say 90% in healthcare properties, and I really like the asset class for a few reasons.
One, because I feel like the buildings and the facilities serve a great purpose. You know people, even though telemedicine has started to develop, it's not going to replace inpatient visits. You know there's, I think, remote monitoring and stuff like that are going to enhance and enhance health care services. But you, any critical care, any chronic care and any examinations or procedures always have to be done inside a facility, and so those facilities serve a need and a purpose that I think is good for society. So that sort of drives me to want to stay in the asset class. And then you know real estate. There has to be investors in order to have those facilities, and so I think it's a great investment for people and for people that are looking to have impact investing or purposeful investing in something that is going to impact others. I think it's a great way to not only have a mechanism to grow your capital, but also a mechanism to impact people in a real way people in a real way.
Stuart: It's interesting, isn't it? Because you think about telemedicine and the all the heat and light that's around moving things to remote. But the opportunity that it opens up is these facilities now are going to be dealing with a smaller volume of people. They don't have to serve quite such a broad purpose. They can really niche down to provide the, the specific care for the type of person that's coming in, without having to worry about catering to all those people who are covered by by telemedicine and that first stage kind of triaging. So it makes it a real um, the use case or the usefulness or the, the job of work. The purpose of those facilities can become much more targeted because they don't have to be so broad, and that seems like it's an opportunity both for better customer experiences but also for investors to really dial in and anchor into that the value that those particular types of buildings are providing.
Trisha: Yeah, I mean it benefits the whole healthcare ecosystem in a very big way. So not only what you're talking about, but people in like rural communities, you know, to have an initial triage over Zoom or whatever the platform is, and maybe some follow ups, or you know if it's, if they have one conversation and there needs to be other conversations with some specialists to really try to dive down so that when they do have to drive to an hour, hour and a half to a facility, they more or less know exactly what they're going in for, instead of having to go, you know, four or five times for some tests that may or may not be needed. So, or, and and I mean healthcare the industry itself is just plagued with, you know, being astronomically more expensive. Insurance companies are pushing back, um, you know physicians are are realizing um less on the reimbursement side, but you know that's not keeping up with inflation and so all of their other costs are going up.
And you know patients themselves now that they're burdening a lot of the costs of healthcare system, they really want it to be specific and precise.
And you know it's also good for the medical community because there's a lot of things that can get taken care of before you get to like a really high end specialist that you know doesn't see patients, that are and I say that's just, you know not a waste of their time, but that shouldn't be seeing them, that they should be seeing somebody else. And so all of these medical care clinicians, you know they can really operate at the top of their license and specific to what they're doing and that makes them better at what they do as well. So I think it's a small part of a bigger ecosystem in there and obviously this is, you know, the real estate, is this fixed asset, but if you think about the ecosystem that it serves, you know, I think these facilities can be really specialized, like to your point, and when people come in, they come in, they get exactly what they need, they have the right practitioners in there to serve them and, you know, and it saves everybody cost and time, which is, you know, valuable.
Stuart: Yeah, your clients in this relationship? Are they on the real estate side they're the either the investors or the property owners or are they the practices and the practice managers who are kind of kidding out and looking for the right facilities? Are you dealing on both sides? Yeah, so I work with both.
Trisha: So I work with. So the co-investors that I work with, they, they I do have a lot that are physicians. They tend to have a high net worth and they, you know, like to to have a mechanism to continue to grow their capital, and this is an easy asset for them to understand. They do, do you know? They invest in a variety of things, but, um, this is something that they can sort of sink their teeth in and really understand, so I think it's easy for them. Um, but I do have just investors that are interested in in real estate investing, and this is one asset class that they invest in it's interesting.
Stuart: We often talk about niching down and addressing that single target market as if you're talking to the one perfect client. But it's really a. It's a reminder that the world is full of huge niches that are very specific enough and as people are thinking about writing a book for their business and there's always this fear that I don't want to miss out on people by being too specific but the idea of a real estate investment area that's specifically looking at medical properties, as an outsider you'd think that that was very specific and and unique. But your experience and the clients you work with, this is a huge business that, just within this particular discipline, is more than big enough to support a business in its own right. So this idea of dialing down and being specific it allows you to talk the language, speak to the people at a level that they're comfortable and convenient with. Was that the case from the start? Did the business start out specifically with medical properties or did you dial that niche in over time?
Trisha: you know I've always I mean I worked some office, but mostly, um, I found the medical office more interesting. I felt, um, I was helping the clients better. You know they they're they're these busy practicing physicians and they want somebody to advocate for them. They need to understand the decisions and the financial impact. They have to have space. That, you know needs to be in a way that they can. You know that's a work that also has the not only like the basic functionality but, you know, allows for conversations and solving all those problems made my day more interesting than you know just traditional office users that need. You know a couple of private offices that are in a room, in a conference room, in a bullpen area. So you know it's just a personal preference.
Stuart: Yeah, and when you find that niche and it resonates and you kind of naturally tend towards that group of people, it's almost self-selecting in a way. Um, yeah, the investors that you're working with, um their motivations, um, there's the return on investment, which everyone, I guess, kind of thinks of as the initial thing that they're interested in. But as you've worked with them over time, that kind of superficial or surface level interest, does that go deeper into? You talked about some of the um the psychological uh, not psychological, the uh preference benefits of wanting to work in this industry because of its stability, and then the, the giving or the doing good element of working in this industry. The investors that you're working with, has there been that level of more deeper connection or their motivations, above and beyond just the? This is a good asset class to be in.
Trisha: So that's probably more my motivation and why I keep doing it, but obviously the numbers always have to make sense for you know, you're not going to get people to invest, you know, just on an idea and a hope, and nobody should.
But that's where. So that's kind of the. The reason why I put this book together is because you know that's that's why I do it and you know that's my why. But you know and obviously at the end of the day that translates into finding good investments that you know it's a win win for everybody. But the book I I wrote that you know it's a win-win for everybody.
But the book I wrote because you know it's not going to win any Nobel Prizes, but it's a basic introductory to what is a medical office asset, why is it so valuable? And people that and it can talk to both parties. So when clinicians sometimes want to occupy or invest in a building, when they're an owner user, you know, over the course of my career I've had, you know, very sophisticated clinicians that are very well versed in it and then some that come to the table just saying, hey, you know what, I'm a physician and I'm a really good practice and I should get like the lowest lease rate and I only want to do like three years and oh yeah, I want the landlord to build out the entire space, which is like half a million dollars. And you know I don't want to put any skin in the game and you know there's a reason why that can't happen. I mean a landlord, landlord just has to say no. I mean there's no way that that makes sense.
And because most of them have, you know, debt and then also other investment partners you know, that that doesn't work and so, you know, I wrote the book to sort of to provide it from an investment angle of this is how the asset class like. This is kind of an overall description of the asset class. This is why it's important and these are the mechanisms the financial mechanisms of why it can be so successful. And the long-term leases are, the landlord can fund a significant amount of tenant improvements because of the lease terms and the lease rates are a little bit higher than traditional office. I mean, they're not as high, I would say, as sometimes retail, but they are a little bit higher to account for that and they're mostly triple net. So those operating expenses get passed on to the tenant triple net. So those operating expenses get passed on to the tenant. And that's better for both parties.
Because in medical, you know, there's different practices that use different levels of electricity and it's not necessarily fair, if one is a super high user, for the other tenants to pay for that. And then also each practice seems to, in my experience, have their own particular preferences for cleanliness, and so then you know, trip trip also allows them to hire their own janitorial company. So there's a lot of reasons that that's a good thing. But for investors, you know, in the book I kind of explain why these mechanisms are the way they are and how it, you know, adds to the value of a medical office building asset. And I do it in a high enough level where, you know it just sort of gives them an overview. It's a really quick read and I intended for it to be that way.
I'm in the process of finishing recording it, so to be on audio as well, and I think at some point you know on video and I think at some point you know on video.
But you know I wanted to be able to say you know, here's the mechanisms of how to look for a good medical office asset, like what are the mechanics of it. So when then you know, down the road, you know I hope that it encourages people to give me a call and, you know, be interested in hopefully investing in properties that I find, and then it will be easier for them to understand when I'm explaining why the asset is valuable. You know what financial aspects of it make it make sense for a good investment. And then hopefully, you know, this book will give them a little bit of enough education where you know they can understand what they're investing in, which is the goal. I mean, you don't want to invest in something you don't understand and you shouldn't, so. This, I think, at least gives them enough information, where then you know the additional questions that they have. It will help them finish their due diligence it's such a great point.
Stuart: I was just on a call with someone before we. We've recorded today and making the the point, or or sowing the seed of the idea that the book, the product of the book, that outcome of the the job of work, is to start that conversation. It's not a college textbook. You're not trying to educate people in the complete how to do it yourself, because for most of us that's not practical. I mean, the likelihood of someone taking all of the steps themselves is pretty much zero. So the opportunity of the book is to either A introduce a new idea to someone, someone who is familiar with investing but hasn't thought about medical as a specific niche, or, if they have, then highlight two or three of the key, um, the key elements of it that can make it a successful, a more successful project than another. But the outcome is always a conversation with someone. Now, as you say, hopefully that someone is you, and the book is a great way of identifying who those people might be in order to keep the conversation going right. But the outcome, the product, the job of work is that conversation and to write something that is a accessible introduction, that gives people enough value and creates that sense of reciprocity or relationship building that translates into a phone call. That's the real difference maker.
And I think the point that you said at the end is also a key one that often gets overlooked. It's this idea that when people do, then eventually reach out and you have that call. The conversation that you're having with them is out and you have that call. The conversation that you're having with them is informed by the information that they've already read and consumed. So at least you know they've got a. Even if they just look at the table of contents, there's still some key signposts in there. At least they've got some level of understanding. And then if you're saying things, or as you're saying things, that echo the words that they read in the book kind of subconsciously, that's the it's not the first time they're hearing it you're reinforcing something that they already believe. So it really does. This idea of an introductory start to the conversation, I think, is the best way of thinking about books absolutely.
Trisha: And, um, you know, uh, for it's also, you know, for investors to that are maybe familiar with, with, you know, investing in real estate but haven't really ventured into medical office. And you know, for both target markets of mine. I've just gotten the question so many times like so what is so special about medical office, why is that important and what makes it so different? And it's you know, obviously I can have two sentences, but you know, doesn't really it wouldn't, so my two sentences aren't going to make somebody write a check. So this, you know, I think this dives into it a little bit more. And, you know, for those that are familiar with real estate investing, for those that are familiar with real estate investing or those that are familiar with the health care industry, you know it sort of brings both of them together to understand why this is an important asset class. And both from you know, I start with describing how it relates to the health care industry, but then also, and then, but it does have to have.
Stuart: So you know, it is a commercial real estate property, so it has to have certain financial fundamentals in order to and highlighting those elements for people, particularly in this um, in this arena, where people, even if they don't have a very good understanding, a lot of people have got a good reckon or think they know what their area is. So it's not, you're not introducing a brand new idea, it's the nuance of this as a subset of all of the properties you could choose. Here are some really unique elements to this as an asset class separate from the other commercial elements. So I think it's. It makes it then easy to, or easier to highlight a couple of those key takeaways and those key um difference makers in in property selection or investment selection. You can really identify a couple of things that are building on real estate investing as a general topic.
So, it does allow you to move that conversation a little bit faster towards positioning you as the expert, because you've got this niche understanding and, like we said at the start, putting it in a way that is accessible and friendly. And the introductory level, because no one wants to read anything where they feel stupid or that no, yeah, it's not an investment book and it wouldn't.
Trisha: it would be unfair to you know, even kind of describe, like I mean I could describe other investments that have been successful, but I didn't want to do that because I didn't want to.
I didn't want it to be um, numbers heavy and super jargon heavy, because then people start to tune out and they close it, they don't want to pick it up and so and I think people like to see numbers easy, like on one sheet of paper, and be able to understand it. And you know, trying to put it in a book over various chapters where somebody feels like they have to sit down and take notes or open up a spreadsheet to understand what you're saying Wasn't wasn't the point. And every single property is different. I mean there's no property that's the same. You know two properties can't occupy the same space, just in, you know, by physics. So you know there's, there's absolutely no, no property investment that would be the same. So it would be unfair to really sort of say, okay, you can talk about other successful ones, but I really wanted to stay away from that in this book anyway.
Stuart: Yeah, because, again, the job of work is to encourage people to reach out and call, because that's the real, that's going to make a difference for them having a tailored conversation to their requirements and their area and their specifications, and the deals that are available today and not the deals that were available yesterday.
Yeah, you talked at the start about the different formats for the book. So trying to make it as accessible as possible in terms of an audio version and video versions. So trying to make it as accessible as possible in terms of an audio version and video versions, this idea of the book being the jumping off point of the conversation. But then there's it's people are either ready today or not today, and that not today might be tomorrow or it might be in 10 years time. So this idea of keeping people engaged have you, is there, anything set up in place at the moment? Or have you thought about that in terms of okay, once someone's requested a copy of the book, I know that not everyone's going to call me straight away, so what information do I have? What reinforcing or amplifying elements are there that I can share with people over the long run that keeps them engaged?
Trisha: Yeah, so, um, you know, the the book is free to download the the hard, the electronic copy, and so I'll give my email at the end at the landing pages. Um, just just gotten finished so I can email them the landing page, but it asks them for, um, their email and phone number, and then it they'll get another. You know, they'll be brought through to the download and so once I get their email and phone number, I'm going to call them, you know, and just introduce myself, thank them for being interested in my book and just offering myself to answer any questions once they finish the book. So to make that connection. And then I have a monthly newsletter that I send out. I send out one for clinician owners and one for just investors. They're welcome to sign up for both, but the information is a little bit tailored, so I send that out and then you know I periodically I'll send out, like, some educational marketing materials.
I try not to spam people's email. I know that the I think the marketing professionals would say that I have to send something out every week and maybe I should. But I just feel like my clients are very busy and when they get 200 emails in their email they just start randomly deleting and it doesn't, you know, they don't read it. So I think monthly has seemed to work. Um, my unsubscribes have gone way down and I think that's because my emails are are, you know, they're not spamming their, their system, and and they're pretty informative and easy to read, like the newsletters sometimes that I get. That it's almost like you have to sit down and kind of like, read a book again.
I'm trying to think that nobody has time these days. That didn't want to do that. So I keep mine very, you know, light on words, big on pictures and lots of places that they can click to, depending on what they're interested in. So I keep them engaged that way. And you know, as I have properties to invest in, if they're part of my community, then depending on what they're interested in, because then I ask in if they're part of my community, then and depending on what, what they're interested in, because then I ask them if they are interested in investments and they have another form to fill out to tell me a little bit more about what specific type and price range, and so I try to be very specific and targeted in my marketing the the right message at the right time.
Stuart: It's such a difficult balance, as you say. A lot of people recommend just keep going. I think it's Dan Kennedy, like the Dan Kennedy approach. It's something like the five-star prospects on the list of five-star prospects regardless and anyone who isn't a five-star prospect they're a waste of time anyway. So you might as well just keep hammering and hammering and people will self-select. But that's a very aggressive approach and particularly with the long burn, the long time frame of this type of investment. It's not a checkout purchase where you just hit a button and you can buy whenever. This is built on relationships and trying to find the right deal. It could be a multi-year approach.
Trisha: So it's a multi-year approach and it involves a ton of trust and you know, once they trust you and you know they've invested with you one time and it's successful, um, they, they trust you again. And so I don't keep that lightly and I don't need a thousand investors. Um, right, I, I need investors that believe in the product type that you know, trust me enough. I mean, their money is retirement money or it's savings, or it's generational wealth that they're trying to preserve, their, their capital. So you know they're all, they're all investing for, I think, a personal reason at least. At least you know the people that I've been talking to, um, and so you know, I, I take, I take the relationships. I'd rather have hundreds of intentional relationships than thousands of unintentional relationships.
Stuart: I guess that would be a good thing I think particularly the nature of the clients you're working with. It's a high ticket item that, as you say, the numbers have to work. But above working with it's a high ticket item, as you say, the numbers have to work. But above and beyond that, it's the trust and the relationship that the person's got that that you're the right person to manage and put together the deal.
Trisha: Not, it's unlikely that it's going to happen without having a phone call or a conversation. It's not just wiring some money. Someone sends me a check and I don't know who they are. That would be weird. So I would be finding out who they are pretty quick Because you know, both peace of mind and KYC requirements. That's my due diligence. I do need to know who you are too, right yeah.
Stuart: Likewise, if a suitcase of money turns up, you can ask some questions there yeah, the suitcase of unmarked bills shows up um yeah, my brother I've mentioned it before on the show my brother's a yacht broker, um, so obviously they're dealing with high-end clients and at the one end of the spectrum there's kind of lucky losing tire kickers and at the other end of the spectrum there's kind of the the long, long-term relationships to to get to a sale. But, uh, I often think that, um, I often think that he has to do a certain amount of due diligence as well, both from the the lucky side of it and not spending too much time on people who are just really not, um, not in the right place, but then from the other side as well. This is quite a lot of money and and you must see the same where people's assets come from it can get quite complicated. Some. It's like moving all things and combining them together. There's a certain amount of due diligence. Just make sure that you don't fall the wrong side of some later investigation.
Trisha: Yeah, I mean there's a lot of fraud and so you have to be conscious of that. I don't, I don't need that in my life and you know they're doing. You know now you're a small business, you know you have to report who you are, and the beneficial owners, and you know their wire fraud is on the rise.
Stuart: And then there's all of these anti-terrorist clauses and things like that, and so, yeah, you gotta, you gotta follow the money and make sure it's coming from the right place yeah, again, another reason why starting the conversation with the book that leads to the people who are interested in the subject, and then following through with the material that you're putting out. It's all relationship building over the long term. So those names on the list that you become familiar with and the emails over time as that builds into a relationship that ends in a transaction, it all helps to give that certainty that you aren't dealing with a real person with a real situation at the other end. Yeah, um, the ideal clients. We were talking briefly about the people who you work with, and some of them are investors and some of them are on the medical side. The ideal person is what am I trying to say, the ideal person within that group? Do they have certain characteristics? Is this likely to be their first deal, or are they seasoned investors? Or are they, more often than not, owner operators?
Trisha: Or talk to me a little bit about who the ideal person is Well, they need to be accredited investors, so they have typically hit a. If they are employed, they're high net earners. So if not, then they are just high net worth individuals. But so they have to. They, if they are, you know, employed, they're usually, I mean, I think they're mid to late careerists. I mean, I think they're mid to late careerists, but I don't think any. I think early careerists would probably invest in properties that their practice owns as a way. You know, I think that's the way they would do it.
But they're high net worth individuals of some sort to be accredited investors is the target.
Stuart: Yeah, interesting. Actually, I never really thought that because commercial residential real estate you don't really think about people having to be accredited. So that extra caveat, understanding things like that though, as I'm thinking about people listening to the show there's some people who fall into that category and this might be a market for them them they haven't necessarily had access to before because they haven't known a person. But then for other people who don't meet that criteria just the assessment that you've gone through and the understanding of who the clients are. So writing at a level, writing, writing the book and then reaching out to audiences at the level who are accredited, this idea of beneficial constraints this now in the scope of what you're doing. So understanding who it's not for is almost as important as understanding who it is for, because it just helps in the creation process, right?
I imagine there's a. There's a line between. It's easy to find yourself going off on a slight tangent and talking to groups of people who aren't the target audience. In your case it might be non-accredited, but that would be an easy line to see. But even where the line's a little bit um, not as explicit as that, it's easy to talk off on a on a tangent. So having this idea of beneficial constraints where you really know okay, I'm talking to this person in this scenario, probably coming from this position it just makes the whole creation process a lot easier. Did you notice that, as you were bringing it together, um, what was included and what wasn't included was was clear in your mind?
Trisha: yeah. So I didn't particularly address that, the high net worth accredited investor in this particular in the the book, and it doesn't. I mean if you're interested in the asset class, I mean there's different ways to become an accredited investor. You know you can create LLCs and you can pull money and you know there's, so there's there's different ways to get there if you're really driven to do it. But you know, I remember when I was, you know, early in my career and I sat down with a financial advisor and you know you're like looking at what you're going to do for retirement and you're like, okay, well, obviously, stocks and bonds over the long term, yes, yes, yes. But I said what is? You know, what is investments in a three to five year investment horizon that you can make money at beats the stock market? And he was like, well, that's the million dollar question that everybody asks. So you know, everyone has different buckets or should have different buckets of money and, um, you know, three to five years stock market.
You know, for people that like stocks, they like stocks. I like I understand real estate, I mean I understand, um, stocks, but I find it more interesting to understand a. I understand real estate, I mean I understand stocks but I find it more interesting to understand a piece of real estate from the right role and personal preference. And I enjoy the stock and bond market but that's a very long-term one and you know, while I'm you know I got I got a long runway left and I really like getting in there and understanding these, turning properties around and, you know, selling them for more than you buy them for and really adding a lot of value. So with that, you know, I've always it's always been like well, what do you invest in for a three to five year time horizon? And it really goes to.
You know you have to find private investments, but that can be also risky. I mean I've heard horror stories of people. You know you have to find private investments but that can be also risky. I mean I've heard horror stories of people you know investing with others that you know they they get are either like hit with so many fees that you know the investor doesn't make any money and then they never do it again.
So the private market it's I think it has a ton of wonderful opportunities, but you have I mean it's like you have to look at a thousand deals to find like maybe five that work. It's not just the investment part, it is also the person behind it. So a couple of things is one, you know, I wanted to introduce myself a little bit but then also introduce the asset class. And for people that aren't credit investors yet, you know they can very well be in any given you know, maybe next year. So it's more to educate people about the investing in the asset class so that they can be educated and if it's not now, it can be later. So it didn't really in the book, it's not just, you know, it doesn't really talk about the type of investor, it's really more about why is this asset class valuable?
Stuart: Right, and that's such a great point as well, actually, because this idea of not sifting and sorting there's a low cost of acquisition of people who are interested in the book and therefore you're able to get names and email addresses. So there's no need to try and filter at this stage because, just as you said, the person might not be, it might not be their time today, either because they're busy doing other things or they're not yet accredited. But six months, 12 months, three years down the track, that relationship has been built from today. So no need to sift and sort.
Trisha: There's no additional cost of having those people on the list's just all upside to build a relationship yeah, and then if they get on my email list and they, you know, do read my emails they'll get to know me a little bit more. Um, you know, in all of my emails I I took the advice of somebody to add a little bit of a personal snippet. I've never really done that before and, um, I'm like who cares about my personal life? But people, I think, when they're investing with you, they kind of want to know who you are and what your values are. So it's just like one paragraph and like a photo of some recent activity of some sort.
But you know, so if they get my emails, they will get to know me a little bit, and I think that's important because I think you really want to put your money, you want to spend your money based on your values. You know, I think um for a lot of people, and so, if you so again, like I said, the financial asset that you're investing in is just one part of the puzzle. It's also who are you investing with? Um, and it's as important as am I going to get my money back, which is the million dollar question, um, you know, and am I going to make money on that? So, so all of that goes hand in hand it's interesting.
Stuart: Um, in the last couple of weeks I've in. It's one of those things where you kind of uh, tune into something and then you start seeing everywhere, but the personal elements I, my natural position is the same who cares? Just crack on, let's do the work. But it's definite that people build a rapport and when I think about the podcasts I listen to or the YouTube channels or the books I read or the people that you follow, there is a certain sense of relationship there, even if it's very one-sided, right, even though I, when I talk about it, I undervalue those things, I think in my own experience I do value them and it's and it's probably we obviously encourage people to put stories and anecdotes and examples in the books to illustrate them, as mentioned before, but including some of the personal stuff.
I wonder, actually, on the landing page you were talking about going from the landing page to the thank you page, including a video on that page with a hey, thanks for downloading a copy of the book. It's one of the key points I really wanted to get across is X, y and Z, but it puts your face there and puts a real person to it. That might be an interesting thing to add there.
Trisha:
Yeah, well, there's a reason why People Magazine is incredibly successful yeah, yeah, yeah.
Stuart: Um, cam always goes fast on these podcasts, I think I know everyone by saying it goes so quick. Um, I want to make sure that people can get um find out more about what you and what you do. I know the landing page isn't up just as we're recording, but where's a good place to point people so they can find out more?
Trisha: yeah, it'll be up in just a few days and unfortunately it's like a perfect storm because my website's being redone and like the landing page and everything. So the easiest way to email me, trisha [email protected]'m very fast on email so I'll send you the landing page right away, as soon as I get it I'm not instant, but you know I would say within 24 hours or so I would send it to you. So just email me. I think that's the simplest. [email protected]. My website is docpropertiescom and it will be. It's up. There is one up, but there'll be a new one up fairly soon and from there there'll be a link directly to the book from the webpage.
Stuart: Well, I'm not sure that we've put so I think we're probably we're recording on a Wednesday, I think, so we'll put this up the following Friday, so by that point some things might have changed. But either way, recommend that people go across and take a look at what you're doing. I'll put links to all of these in the show notes so, as people are listening on podcast players, there'll be a link in the show notes, or, if people follow the email through to the website, we'll make sure that all of the links are there. And then, if you're up for it, it'd be great to reconnect in or get you back on the show in a few months and then see how it's landing, what, uh, what feedback people are giving, and then, from your own perspective as well, the different ways that you're now using it once it's out there and and in the world.
Trisha: Yeah, no, I would love that. That's great, thank you. Thanks for having me again perfect no real pleasure.
Stuart: It's a. One of the highlights of the week is getting to share people's stories with everyone else, because again, I mean subconsciously, I hope it kind of reminds someone. Oh yeah, I've been meaning to this for a while. I should. Today's the day that I should get around to it. But also just the opening up people's minds to this idea of amplifying your message, of sharing your message out there.
A book or another piece of content doesn't have to be absolutely unique. It doesn't have to be war and peace. People are people, are desperate for making those connections with the people that they can learn to know, like and trust, and if they can find trusted advisors or or people in certain spaces. You can be in the medical property side of things. Someone else is going to be in the veterinarian side. Someone else is going to be in the medical property side of things. Someone else is going to be in the veterinarian side. Someone else is going to be in the accounting side. Someone else can be in the book marketing side. So, yeah, just put it. Put it out there and it's. It doesn't have to be difficult.
Trisha: Well, and I think you know you never know until you try. So you know, I think, what happens. You know you're, you're this professional, and you're going, going and going. Then all of a sudden people are starting to say, wow, you really know a lot of stuff, you're like I guess I do, and people can read it or send it before a meeting. You know, get some of those initial questions out, just so that you know when they come they'll have even more informed questions that you know really we can sink our teeth into. And, you know, get a dive a little bit deeper than staying at the surface.
So yeah, and you, you know, you don't know until you try. And a book like this, I think it's like 60 pages. You know, I think you can get really disciplined and and, and you know, write a little bit every week and you get it done before you know it yeah, yeah, yeah, there's that Mike Tyson saying everyone's got a plan until they get punched in the face.
Stuart: The flip side of that is, uh is, put things out there in the world, because you never know what's gonna resonate and and take off. So, absolutely, um, thanks for your time. This has really been a pleasure. Everyone listening, uh, check out the show notes for links through to trisha's website and, uh, to get a copy of the book if this resonates with you. Um, this has been really great. Thanks again, and then we'll circle back in a couple of months and check in and see how things are going wonderful. Thank you, thanks, thanks everyone. We will catch you in the next one.