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Using an Extreme Sports Background to Achieve Real Estate Success with Austin Hair · MPI Multifamily Commercial Real Estate Investing

• 0:00
  Foreign.
• 0:03
  You're
• 0:04
  listening
• 0:04
  to
• 0:04
  the
• 0:04
  Master
• 0:05
  Passive
• 0:05
  Income
• 0:06
  Podcast
• 0:06
  Network.
• 0:09
  Hey
• 0:10
  guys,
• 0:10
  this
• 0:10
  is
• 0:10
  Charles
• 0:11
  Heman
• 0:11
  and
• 0:11
  we're
• 0:12
  here
• 0:12
  for
• 0:12
  another
• 0:12
  episode
• 0:13
  of
• 0:13
  the
• 0:13
  Master
• 0:13
  Passive
• 0:14
  Income
• 0:14
  Multifamily
• 0:15
  podcast.
• 0:16
  And
• 0:16
  today
• 0:16
  we
• 0:16
  have
• 0:16
  a
• 0:16
  special
• 0:17
  guest,
• 0:17
  Austin
• 0:18
  Hare.
• 0:18
  Austin
• 0:19
  is
• 0:19
  a
• 0:19
  real
• 0:19
  estate
• 0:20
  developer
• 0:20
  who
• 0:20
  specializes
• 0:21
  in
• 0:21
  finding
• 0:21
  locations
• 0:22
  that
• 0:22
  allow
• 0:22
  his
• 0:23
  clients
• 0:23
  to
• 0:23
  scale
• 0:23
  faster
• 0:24
  and
• 0:24
  his
• 0:24
  investors
• 0:25
  to
• 0:25
  compound
• 0:25
  Safer.
• 0:26
  With
• 0:26
  a
• 0:26
  career
• 0:27
  spanning
• 0:27
  over
• 0:27
  a
• 0:27
  decade
• 0:28
  as
• 0:28
  a
• 0:28
  professional
• 0:29
  wakeboarder
• 0:29
  and
• 0:30
  more
• 0:30
  recently
• 0:30
  as
• 0:31
  an
• 0:31
  American
• 0:31
  Ninja
• 0:32
  Warrior
• 0:32
  finalist,
• 0:32
  which
• 0:33
  was
• 0:33
  really
• 0:33
  cool,
• 0:34
  Austin
• 0:34
  brings
• 0:34
  a
• 0:34
  unique
• 0:35
  blend
• 0:35
  of
• 0:35
  discipline
• 0:36
  and
• 0:36
  calculated
• 0:37
  risk
• 0:37
  taking
• 0:37
  to
• 0:37
  the
• 0:37
  world
• 0:38
  of
• 0:38
  real
• 0:38
  estate
• 0:38
  investment.
• 0:39
  He
• 0:39
  now
• 0:39
  shows
• 0:40
  others
• 0:40
  how
• 0:40
  to
• 0:40
  find
• 0:40
  the
• 0:40
  locations
• 0:41
  that
• 0:41
  stack
• 0:41
  the
• 0:41
  deck
• 0:42
  in
• 0:42
  their
• 0:42
  favor.
• 0:43
  As
• 0:43
  an
• 0:43
  expert
• 0:43
  in
• 0:43
  passive
• 0:44
  investing,
• 0:45
  he
• 0:45
  finds
• 0:45
  low
• 0:45
  risk,
• 0:46
  high
• 0:46
  return
• 0:47
  opportunities.
• 0:47
  By
• 0:48
  marrying
• 0:48
  these
• 0:49
  two
• 0:49
  realms,
• 0:49
  Austin
• 0:50
  ensures
• 0:50
  that
• 0:50
  both
• 0:51
  his
• 0:51
  tenants
• 0:51
  and
• 0:51
  investors
• 0:52
  realize
• 0:52
  substantial
• 0:53
  returns.
• 0:53
  Austin's
• 0:54
  been
• 0:54
  featured
• 0:54
  on
• 0:55
  NBC's
• 0:55
  American
• 0:56
  Ninja
• 0:56
  Warrior,
• 0:57
  CBS
• 0:57
  Sports,
• 0:58
  ESPN,
• 0:58
  and
• 0:59
  he
• 0:59
  has
• 0:59
  more
• 0:59
  than
• 0:59
  25,000
• 1:00
  downloads
• 1:01
  of
• 1:01
  his
• 1:01
  podcast,
• 1:02
  Helping
• 1:02
  Healthcare
• 1:03
  Scale.
• 1:04
  He
• 1:04
  has
• 1:04
  spoken
• 1:04
  about
• 1:05
  the
• 1:05
  real
• 1:05
  estate
• 1:06
  at
• 1:06
  the
• 1:06
  association
• 1:06
  of
• 1:07
  Organizations
• 1:08
  and
• 1:08
  the
• 1:09
  Dental
• 1:09
  Entrepreneurial
• 1:10
  organization.
• 1:14
  Welcome
• 1:14
  to
• 1:14
  the
• 1:15
  Master
• 1:15
  Passive
• 1:16
  Income
• 1:16
  Multifamily
• 1:17
  podcast
• 1:18
  where
• 1:18
  we
• 1:18
  guide
• 1:18
  you
• 1:19
  to
• 1:19
  invest
• 1:19
  in
• 1:19
  commercial
• 1:20
  real
• 1:20
  estate
• 1:20
  with
• 1:20
  a
• 1:21
  special
• 1:21
  focus
• 1:22
  on
• 1:22
  raising
• 1:23
  money
• 1:23
  from
• 1:23
  others
• 1:24
  to
• 1:24
  buy
• 1:24
  bigger
• 1:25
  and
• 1:25
  better
• 1:25
  deals.
• 1:26
  And
• 1:26
  now,
• 1:26
  here
• 1:27
  are
• 1:27
  your
• 1:27
  hosts,
• 1:27
  Charles
• 1:28
  seaman
• 1:28
  and
• 1:29
  Erica
• 1:29
  McNew.
• 1:33
  Morrison.
• 1:34
  We're
• 1:34
  thrilled
• 1:34
  to
• 1:34
  have
• 1:34
  you.
• 1:35
  Can
• 1:35
  you
• 1:35
  give
• 1:35
  us
• 1:35
  a
• 1:35
  little
• 1:36
  more
• 1:36
  insight?
• 1:36
  And
• 1:36
  yet.
• 1:37
  Certainly
• 1:37
  sounds
• 1:37
  like
• 1:37
  you
• 1:38
  live
• 1:38
  quite
• 1:38
  a
• 1:38
  life.
• 1:39
  I
• 1:39
  was
• 1:39
  gonna
• 1:39
  say
• 1:39
  it
• 1:40
  sounds
• 1:40
  like.
• 1:40
  Sounds
• 1:40
  like
• 1:41
  you
• 1:41
  covered
• 1:41
  everything
• 1:42
  pretty,
• 1:42
  pretty
• 1:42
  succinctly
• 1:43
  there.
• 1:43
  But
• 1:44
  yeah,
• 1:44
  you
• 1:44
  know,
• 1:45
  I
• 1:45
  think
• 1:45
  a
• 1:45
  lot
• 1:45
  of
• 1:45
  times
• 1:45
  people
• 1:46
  ask
• 1:46
  the
• 1:47
  question
• 1:47
  like,
• 1:47
  how
• 1:47
  did
• 1:48
  you
• 1:48
  go
• 1:48
  from
• 1:49
  Wigwarter
• 1:49
  to,
• 1:50
  you
• 1:50
  know,
• 1:50
  medical,
• 1:51
  retail,
• 1:51
  real
• 1:52
  estate,
• 1:52
  like,
• 1:52
  it's
• 1:52
  such
• 1:52
  a,
• 1:53
  such
• 1:53
  a
• 1:53
  kind
• 1:53
  of
• 1:54
  odd
• 1:54
  transition
• 1:55
  or
• 1:55
  whatever.
• 1:55
  And
• 1:56
  you
• 1:56
  know,
• 1:56
  I'm
• 1:56
  happy
• 1:56
  to
• 1:56
  tell
• 1:57
  that
• 1:57
  story
• 1:57
  if
• 1:57
  you
• 1:57
  want
• 1:57
  me
• 1:57
  to.
• 1:58
  Absolutely.
• 1:59
  Yeah.
• 1:59
  And
• 2:00
  I
• 2:00
  guess
• 2:00
  I
• 2:00
  will
• 2:00
  say
• 2:00
  first
• 2:00
  of
• 2:01
  all,
• 2:01
  like,
• 2:01
  I
• 2:01
  feel
• 2:01
  like
• 2:01
  everybody
• 2:01
  has
• 2:01
  a
• 2:02
  unique
• 2:02
  story,
• 2:02
  you
• 2:02
  know,
• 2:02
  like
• 2:02
  if
• 2:03
  you
• 2:03
  really
• 2:03
  dive
• 2:03
  down
• 2:03
  into
• 2:03
  it,
• 2:03
  like
• 2:04
  nobody
• 2:04
  really
• 2:04
  knows
• 2:05
  what
• 2:05
  they're
• 2:05
  going
• 2:05
  to
• 2:05
  be
• 2:05
  doing
• 2:06
  when
• 2:06
  they
• 2:06
  were
• 2:06
  a
• 2:06
  grown
• 2:06
  up.
• 2:07
  And
• 2:07
  so,
• 2:07
  but
• 2:08
  anyways,
• 2:08
  you
• 2:08
  know,
• 2:09
  for
• 2:09
  me
• 2:09
  it
• 2:09
  was
• 2:09
  just,
• 2:10
  I
• 2:10
  grew
• 2:10
  up
• 2:10
  wakeboarding
• 2:11
  in
• 2:11
  South
• 2:11
  Carolina.
• 2:12
  We
• 2:12
  moved
• 2:12
  onto
• 2:12
  a
• 2:12
  lake,
• 2:12
  got
• 2:13
  really
• 2:13
  into
• 2:13
  it,
• 2:13
  decided
• 2:14
  I
• 2:14
  wanted
• 2:14
  to
• 2:14
  pursue
• 2:15
  that
• 2:15
  professionally.
• 2:16
  And
• 2:16
  so
• 2:16
  just
• 2:16
  like
• 2:16
  real
• 2:17
  estate,
• 2:17
  it's
• 2:17
  kind
• 2:17
  of
• 2:18
  like
• 2:18
  you
• 2:18
  gotta
• 2:18
  have
• 2:19
  a
• 2:19
  really
• 2:19
  delayed
• 2:20
  sense
• 2:20
  of
• 2:20
  gratification
• 2:20
  because
• 2:21
  like,
• 2:21
  you
• 2:21
  know,
• 2:21
  real
• 2:22
  estate
• 2:22
  is
• 2:22
  like
• 2:22
  a
• 2:22
  get
• 2:22
  rich
• 2:22
  slow
• 2:23
  scheme,
• 2:23
  I
• 2:23
  like
• 2:23
  to
• 2:23
  call
• 2:23
  it.
• 2:23
  And
• 2:24
  then
• 2:24
  the
• 2:24
  same
• 2:24
  thing,
• 2:24
  like,
• 2:24
  you
• 2:24
  know,
• 2:24
  when
• 2:25
  you're
• 2:25
  waking
• 2:25
  up
• 2:25
  early
• 2:25
  in
• 2:25
  the
• 2:25
  morning
• 2:26
  and
• 2:26
  you're
• 2:26
  putting
• 2:26
  your
• 2:26
  Body
• 2:27
  on
• 2:27
  the
• 2:27
  line.
• 2:27
  Like
• 2:27
  you're
• 2:28
  getting
• 2:28
  beat
• 2:28
  up
• 2:28
  and.
• 2:28
  And
• 2:29
  trying
• 2:29
  these
• 2:29
  new
• 2:29
  tricks.
• 2:29
  Like,
• 2:30
  it
• 2:30
  just
• 2:30
  takes
• 2:30
  a
• 2:30
  long
• 2:31
  time
• 2:31
  to,
• 2:32
  you
• 2:32
  know,
• 2:32
  attain
• 2:33
  a
• 2:33
  level
• 2:33
  of
• 2:33
  success.
• 2:34
  But
• 2:34
  anyways,
• 2:34
  yeah,
• 2:35
  I
• 2:35
  was.
• 2:35
  I
• 2:35
  was
• 2:35
  traveling
• 2:35
  all
• 2:36
  over
• 2:36
  the
• 2:36
  world,
• 2:36
  loving
• 2:36
  what
• 2:36
  I
• 2:36
  was
• 2:37
  doing.
• 2:37
  Ended
• 2:37
  up
• 2:37
  buying
• 2:38
  a
• 2:38
  house
• 2:38
  that
• 2:38
  I
• 2:38
  could
• 2:39
  do.
• 2:39
  It's
• 2:39
  called
• 2:39
  house
• 2:39
  hacking.
• 2:40
  And
• 2:40
  that's
• 2:40
  where
• 2:40
  people.
• 2:41
  So,
• 2:41
  like,
• 2:42
  I
• 2:42
  found
• 2:42
  a
• 2:42
  place
• 2:42
  on
• 2:43
  a
• 2:43
  lake
• 2:43
  and
• 2:44
  I
• 2:44
  was
• 2:44
  really.
• 2:45
  I
• 2:45
  mean,
• 2:45
  April
• 2:45
  2011,
• 2:46
  it
• 2:46
  was
• 2:46
  like
• 2:46
  the
• 2:46
  bottom
• 2:47
  of
• 2:47
  the
• 2:47
  market.
• 2:47
  Paid
• 2:48
  185
• 2:48
  grand
• 2:49
  for
• 2:49
  this
• 2:49
  house.
• 2:49
  And
• 2:50
  then
• 2:50
  I
• 2:50
  brought
• 2:50
  in
• 2:50
  some
• 2:50
  roommates.
• 2:51
  It
• 2:51
  was
• 2:51
  like
• 2:51
  a
• 2:51
  four
• 2:51
  bedroom
• 2:52
  house
• 2:52
  with
• 2:52
  a
• 2:52
  guest
• 2:52
  house
• 2:52
  on
• 2:53
  a
• 2:53
  lake.
• 2:53
  Two
• 2:53
  stories,
• 2:54
  pool
• 2:54
  and
• 2:54
  hot
• 2:54
  tub.
• 2:55
  I
• 2:55
  mean,
• 2:55
  you
• 2:55
  know,
• 2:56
  these
• 2:56
  things
• 2:56
  don't
• 2:56
  exist
• 2:56
  anymore.
• 2:57
  It
• 2:57
  was
• 2:57
  run
• 2:57
  down,
• 2:58
  so
• 2:58
  I
• 2:58
  did
• 2:58
  have
• 2:58
  to
• 2:58
  fix
• 2:58
  it
• 2:58
  up.
• 2:59
  But
• 2:59
  I
• 2:59
  was
• 2:59
  getting
• 2:59
  paid
• 2:59
  over
• 3:00
  a
• 3:00
  grand
• 3:00
  a
• 3:00
  month
• 3:00
  to
• 3:00
  live
• 3:00
  there,
• 3:01
  you
• 3:01
  know,
• 3:01
  and
• 3:01
  I
• 3:01
  had
• 3:01
  this
• 3:01
  master
• 3:02
  bedroom
• 3:02
  suite
• 3:02
  with
• 3:02
  like
• 3:03
  its
• 3:03
  own
• 3:03
  private
• 3:03
  balcony,
• 3:04
  like,
• 3:04
  overlooking
• 3:04
  the
• 3:04
  lake
• 3:05
  on
• 3:05
  the
• 3:05
  second
• 3:05
  story.
• 3:05
  It
• 3:05
  was
• 3:05
  just.
• 3:06
  It
• 3:06
  was
• 3:06
  great.
• 3:06
  And
• 3:06
  so
• 3:06
  I
• 3:06
  was
• 3:07
  like,
• 3:07
  man,
• 3:07
  real
• 3:07
  estate's
• 3:07
  pretty
• 3:08
  cool.
• 3:08
  But
• 3:08
  I.
• 3:08
  I
• 3:08
  kept
• 3:08
  wakeboarding.
• 3:09
  And
• 3:09
  then
• 3:10
  as
• 3:10
  I
• 3:10
  was
• 3:10
  kind
• 3:10
  of
• 3:10
  getting
• 3:11
  out
• 3:11
  of
• 3:11
  wakeboarding,
• 3:11
  I
• 3:11
  started
• 3:12
  opening
• 3:12
  up
• 3:12
  some
• 3:12
  fitness
• 3:12
  centers.
• 3:13
  And
• 3:13
  I
• 3:13
  was
• 3:14
  growing
• 3:14
  them
• 3:14
  by
• 3:15
  what
• 3:15
  you'd
• 3:15
  call
• 3:16
  de
• 3:16
  novo
• 3:16
  in
• 3:16
  the
• 3:16
  healthcare
• 3:17
  world,
• 3:17
  which
• 3:17
  just
• 3:17
  means
• 3:17
  like
• 3:18
  startup
• 3:18
  instead
• 3:18
  of
• 3:18
  acquisition.
• 3:19
  But
• 3:19
  we
• 3:19
  did.
• 3:20
  We
• 3:20
  did
• 3:20
  a
• 3:20
  little
• 3:20
  of
• 3:20
  both.
• 3:21
  And
• 3:21
  so
• 3:22
  I
• 3:22
  ended
• 3:22
  up
• 3:22
  working
• 3:23
  with
• 3:23
  my
• 3:23
  partner
• 3:23
  to
• 3:23
  find
• 3:24
  our
• 3:24
  fourth
• 3:24
  location.
• 3:25
  And
• 3:26
  in
• 3:26
  my
• 3:26
  head,
• 3:26
  I
• 3:26
  was
• 3:26
  kind
• 3:27
  of
• 3:27
  like,
• 3:27
  you
• 3:27
  know,
• 3:27
  I
• 3:27
  want
• 3:27
  to
• 3:27
  stay
• 3:28
  away
• 3:28
  from
• 3:28
  Kissimmee.
• 3:29
  Those
• 3:29
  demographics
• 3:30
  are
• 3:30
  garbage.
• 3:30
  Because
• 3:30
  I
• 3:30
  lived
• 3:30
  in
• 3:31
  Orlando.
• 3:31
  I
• 3:31
  want
• 3:31
  to
• 3:31
  be
• 3:32
  Winter
• 3:32
  Park.
• 3:32
  Like,
• 3:32
  that's
• 3:33
  the
• 3:33
  coolest,
• 3:33
  sexy
• 3:33
  area.
• 3:34
  Everybody's
• 3:34
  got
• 3:34
  to
• 3:34
  be
• 3:34
  there.
• 3:34
  That's
• 3:34
  where
• 3:35
  I
• 3:35
  need
• 3:35
  to
• 3:35
  be.
• 3:35
  And
• 3:35
  so
• 3:35
  he
• 3:36
  ran
• 3:36
  an
• 3:36
  analysis,
• 3:37
  competition
• 3:37
  and
• 3:37
  demographic
• 3:38
  analysis.
• 3:38
  And
• 3:39
  what
• 3:39
  we
• 3:39
  found
• 3:40
  was
• 3:40
  Kissimmee
• 3:41
  was
• 3:41
  wide
• 3:41
  open.
• 3:42
  I
• 3:42
  mean,
• 3:42
  tons
• 3:42
  of
• 3:42
  room
• 3:43
  for
• 3:43
  growth.
• 3:43
  And
• 3:44
  Winter
• 3:44
  park
• 3:44
  was
• 3:45
  super
• 3:45
  saturated.
• 3:45
  You
• 3:46
  know,
• 3:46
  really
• 3:46
  high
• 3:46
  rents,
• 3:47
  tons
• 3:47
  of
• 3:47
  competition.
• 3:48
  And
• 3:48
  I
• 3:48
  just,
• 3:48
  I
• 3:49
  had
• 3:49
  no
• 3:49
  idea
• 3:49
  because
• 3:49
  you
• 3:50
  can't
• 3:50
  make
• 3:50
  good
• 3:50
  decisions
• 3:50
  without
• 3:51
  good
• 3:51
  data.
• 3:52
  So
• 3:52
  we
• 3:52
  ended
• 3:52
  up
• 3:52
  finding
• 3:53
  a
• 3:53
  good
• 3:53
  spot
• 3:53
  in.
• 3:54
  It
• 3:54
  was
• 3:54
  really
• 3:55
  like
• 3:55
  the
• 3:55
  Lake
• 3:55
  Nona
• 3:56
  area,
• 3:56
  but
• 3:56
  like
• 3:56
  Kissimmee
• 3:57
  on
• 3:57
  the
• 3:57
  way
• 3:57
  to
• 3:57
  Kissimmee.
• 3:58
  And
• 3:58
  I
• 3:58
  ended
• 3:58
  up
• 3:58
  getting
• 3:58
  in
• 3:59
  a
• 3:59
  disagreement
• 3:59
  with
• 3:59
  the
• 3:59
  franchisor.
• 4:00
  They
• 4:00
  made
• 4:00
  some
• 4:00
  major
• 4:01
  changes
• 4:01
  to
• 4:01
  make
• 4:01
  it
• 4:01
  really
• 4:02
  difficult
• 4:02
  for
• 4:02
  the
• 4:02
  franchisees
• 4:03
  to
• 4:03
  operate
• 4:04
  profitably.
• 4:05
  So
• 4:05
  I'm
• 4:05
  really
• 4:06
  thankful
• 4:06
  for
• 4:06
  that
• 4:06
  because
• 4:07
  because
• 4:07
  of
• 4:08
  that
• 4:08
  disagreement,
• 4:09
  I
• 4:09
  sold
• 4:09
  the
• 4:10
  gyms
• 4:10
  in
• 4:10
  2019,
• 4:11
  like,
• 4:11
  literally
• 4:12
  November
• 4:12
  of
• 4:12
  2019,
• 4:12
  right
• 4:13
  before
• 4:13
  COVID
• 4:13
  And
• 4:14
  so
• 4:14
  I
• 4:14
  got.
• 4:14
  I
• 4:14
  got
• 4:14
  really
• 4:15
  lucky
• 4:15
  that
• 4:15
  I
• 4:15
  dodged
• 4:16
  that
• 4:16
  bullet.
• 4:16
  And
• 4:16
  he
• 4:16
  invited
• 4:17
  me
• 4:17
  to
• 4:17
  start
• 4:17
  working
• 4:17
  with
• 4:17
  him
• 4:18
  full
• 4:18
  time
• 4:18
  on
• 4:18
  the
• 4:18
  real
• 4:18
  estate
• 4:18
  side.
• 4:19
  So
• 4:19
  I
• 4:19
  was
• 4:19
  like,
• 4:19
  you
• 4:19
  know
• 4:19
  what?
• 4:19
  I
• 4:20
  have
• 4:20
  this,
• 4:20
  had
• 4:20
  this
• 4:20
  house
• 4:21
  that
• 4:21
  was
• 4:21
  working
• 4:21
  out
• 4:21
  really
• 4:21
  well.
• 4:22
  I
• 4:22
  had,
• 4:22
  during
• 4:22
  that
• 4:22
  time
• 4:23
  I
• 4:23
  had
• 4:23
  bought
• 4:23
  another
• 4:23
  residential
• 4:24
  property
• 4:24
  and
• 4:25
  I
• 4:25
  had,
• 4:25
  it
• 4:25
  was
• 4:25
  a
• 4:25
  duplex,
• 4:26
  so
• 4:26
  I
• 4:26
  had
• 4:27
  Airbeat
• 4:27
  and
• 4:27
  Bead,
• 4:28
  my
• 4:28
  first
• 4:28
  house
• 4:28
  that
• 4:28
  I
• 4:28
  bought.
• 4:29
  And
• 4:29
  then
• 4:29
  me
• 4:29
  and
• 4:29
  my
• 4:29
  wife
• 4:29
  lived
• 4:30
  upstairs
• 4:30
  and
• 4:30
  we
• 4:30
  Airbnb
• 4:31
  the
• 4:31
  downstairs
• 4:31
  of
• 4:31
  this
• 4:31
  other
• 4:32
  house.
• 4:32
  So
• 4:32
  I'm
• 4:32
  like,
• 4:32
  yeah,
• 4:32
  like,
• 4:32
  I
• 4:32
  like
• 4:33
  real
• 4:33
  estate.
• 4:33
  Let's
• 4:33
  do
• 4:33
  it.
• 4:34
  So
• 4:34
  we
• 4:34
  started
• 4:35
  to
• 4:35
  look
• 4:35
  for
• 4:36
  specifically
• 4:36
  healthcare
• 4:37
  related
• 4:37
  projects
• 4:38
  because,
• 4:38
  you
• 4:38
  know,
• 4:39
  when
• 4:39
  we
• 4:39
  sat
• 4:39
  down
• 4:39
  together
• 4:39
  and
• 4:40
  we
• 4:40
  decided,
• 4:40
  what
• 4:40
  do
• 4:40
  we
• 4:40
  want
• 4:40
  to
• 4:40
  work
• 4:41
  on?
• 4:41
  He
• 4:41
  had
• 4:41
  been
• 4:41
  doing
• 4:41
  urgent
• 4:42
  cares.
• 4:42
  But
• 4:42
  it's
• 4:42
  like
• 4:42
  this
• 4:43
  just
• 4:43
  seems
• 4:43
  like
• 4:43
  a
• 4:43
  really,
• 4:44
  like,
• 4:44
  you
• 4:44
  know,
• 4:44
  this
• 4:45
  was
• 4:45
  in
• 4:45
  2019,
• 4:45
  2020.
• 4:46
  We
• 4:46
  were
• 4:46
  still
• 4:47
  kind
• 4:47
  of
• 4:47
  thinking
• 4:47
  about
• 4:47
  the
• 4:47
  Great
• 4:47
  Recession,
• 4:48
  right?
• 4:48
  Which
• 4:48
  I
• 4:49
  mean,
• 4:49
  people
• 4:49
  still
• 4:49
  do,
• 4:50
  but
• 4:50
  it's
• 4:50
  like,
• 4:50
  how
• 4:50
  do
• 4:50
  we
• 4:50
  get
• 4:51
  something
• 4:51
  that
• 4:52
  is
• 4:52
  like
• 4:52
  safe
• 4:52
  asset,
• 4:53
  that
• 4:53
  we
• 4:53
  can
• 4:53
  get
• 4:53
  like
• 4:53
  safe
• 4:53
  returns?
• 4:54
  And
• 4:54
  so
• 4:54
  the
• 4:54
  healthcare
• 4:55
  field
• 4:55
  just
• 4:55
  felt
• 4:55
  like
• 4:55
  a
• 4:56
  little
• 4:56
  bit
• 4:56
  more
• 4:56
  of
• 4:56
  a
• 4:56
  blue
• 4:56
  ocean
• 4:57
  because
• 4:57
  there's
• 4:57
  a
• 4:57
  little
• 4:57
  bit
• 4:57
  less
• 4:58
  people
• 4:58
  chasing
• 4:58
  it.
• 4:58
  But
• 4:58
  we
• 4:58
  knew
• 4:59
  it
• 4:59
  was
• 4:59
  at
• 4:59
  the
• 4:59
  time
• 4:59
  recession
• 5:00
  resistant.
• 5:00
  Now
• 5:00
  we
• 5:01
  know
• 5:01
  it's
• 5:01
  also
• 5:01
  pandemic
• 5:02
  resistant
• 5:02
  and
• 5:02
  inflation
• 5:03
  resistant
• 5:03
  and
• 5:03
  just,
• 5:04
  you
• 5:04
  know,
• 5:04
  health.
• 5:04
  People
• 5:04
  are
• 5:04
  going
• 5:04
  to
• 5:05
  need
• 5:05
  health
• 5:05
  care
• 5:05
  right
• 5:05
  now
• 5:06
  that
• 5:06
  comes
• 5:06
  with
• 5:06
  its
• 5:06
  own
• 5:07
  set
• 5:07
  of
• 5:07
  challenges,
• 5:07
  which
• 5:07
  I
• 5:08
  can
• 5:08
  get
• 5:08
  into
• 5:08
  later.
• 5:08
  But
• 5:09
  for
• 5:09
  the
• 5:09
  most
• 5:09
  part,
• 5:09
  you
• 5:09
  know,
• 5:09
  it's
• 5:09
  a
• 5:10
  growing,
• 5:10
  the
• 5:10
  patient
• 5:11
  base
• 5:11
  is
• 5:11
  going
• 5:11
  to
• 5:11
  continue
• 5:11
  to
• 5:11
  grow
• 5:12
  as
• 5:12
  long
• 5:12
  as
• 5:12
  people
• 5:12
  keep
• 5:12
  aging.
• 5:13
  So
• 5:13
  we're
• 5:13
  like,
• 5:14
  yeah,
• 5:14
  let's
• 5:14
  do
• 5:14
  it.
• 5:14
  And
• 5:15
  we
• 5:15
  really
• 5:15
  started
• 5:15
  focusing
• 5:16
  on
• 5:16
  the
• 5:16
  site
• 5:16
  selection
• 5:17
  component
• 5:17
  as
• 5:17
  a
• 5:17
  way
• 5:17
  to
• 5:17
  cast
• 5:17
  a
• 5:18
  wide
• 5:18
  net.
• 5:18
  And
• 5:18
  that
• 5:19
  way
• 5:19
  we
• 5:19
  can
• 5:19
  do
• 5:19
  our
• 5:20
  analysis
• 5:21
  and
• 5:21
  we
• 5:21
  can
• 5:21
  try
• 5:21
  and
• 5:21
  broker
• 5:22
  these
• 5:22
  deals
• 5:22
  for
• 5:22
  these
• 5:22
  clients.
• 5:23
  But
• 5:23
  whenever
• 5:23
  anything
• 5:23
  is
• 5:23
  available,
• 5:24
  you
• 5:24
  know,
• 5:24
  if
• 5:24
  they've
• 5:24
  got
• 5:25
  good
• 5:25
  credit,
• 5:25
  they
• 5:25
  got
• 5:25
  at
• 5:26
  least,
• 5:26
  let's
• 5:26
  call
• 5:26
  it
• 5:26
  10
• 5:26
  locations
• 5:27
  or
• 5:27
  they've
• 5:27
  got
• 5:27
  private
• 5:27
  equity
• 5:28
  backing
• 5:28
  or
• 5:28
  they're
• 5:29
  in
• 5:29
  urgent
• 5:29
  care
• 5:29
  that's
• 5:30
  backed
• 5:30
  or
• 5:30
  owned
• 5:30
  by
• 5:30
  the
• 5:31
  hospital.
• 5:31
  You
• 5:31
  know,
• 5:31
  that's
• 5:32
  a
• 5:32
  really
• 5:32
  strong
• 5:32
  credit
• 5:32
  tenant.
• 5:32
  So
• 5:33
  let's,
• 5:33
  let's
• 5:33
  buy
• 5:33
  the
• 5:33
  real
• 5:33
  estate
• 5:34
  for
• 5:34
  them.
• 5:34
  And
• 5:34
  that
• 5:34
  was
• 5:34
  kind
• 5:35
  of
• 5:35
  how
• 5:35
  we
• 5:35
  started
• 5:36
  working
• 5:36
  together.
• 5:36
  And
• 5:37
  really
• 5:37
  that,
• 5:38
  that
• 5:38
  came
• 5:38
  about
• 5:38
  because
• 5:39
  my
• 5:39
  partner
• 5:39
  one
• 5:40
  time,
• 5:40
  gosh,
• 5:41
  it
• 5:41
  was,
• 5:41
  it
• 5:41
  was
• 5:41
  a
• 5:41
  couple
• 5:41
  years
• 5:42
  before
• 5:42
  we
• 5:42
  started
• 5:42
  working
• 5:42
  together,
• 5:43
  but
• 5:43
  he
• 5:43
  was
• 5:43
  doing
• 5:44
  an
• 5:44
  assignment
• 5:44
  for
• 5:44
  an
• 5:44
  urgent
• 5:45
  care
• 5:45
  where
• 5:45
  he
• 5:45
  was
• 5:45
  looking
• 5:45
  for
• 5:45
  a
• 5:46
  location
• 5:46
  and
• 5:46
  he
• 5:46
  flattered
• 5:47
  two
• 5:47
  years,
• 5:47
  he
• 5:47
  found
• 5:47
  a
• 5:48
  great
• 5:48
  spot
• 5:48
  and
• 5:48
  he
• 5:48
  like
• 5:49
  was
• 5:49
  ready
• 5:49
  to
• 5:49
  go
• 5:49
  sign
• 5:49
  a
• 5:49
  lease,
• 5:50
  give
• 5:50
  it
• 5:50
  to
• 5:50
  the
• 5:50
  landlord.
• 5:50
  The
• 5:51
  landlord
• 5:51
  said,
• 5:51
  hey,
• 5:51
  sorry,
• 5:51
  I
• 5:51
  only
• 5:52
  Want
• 5:52
  to
• 5:52
  sell?
• 5:52
  I
• 5:52
  don'
• 5:53
  I
• 5:53
  don't
• 5:53
  want
• 5:53
  to
• 5:53
  rent.
• 5:53
  And
• 5:53
  the
• 5:54
  urgent
• 5:54
  care
• 5:54
  is
• 5:54
  like
• 5:55
  backed
• 5:55
  by
• 5:55
  the
• 5:55
  hospital.
• 5:55
  They're
• 5:56
  like,
• 5:56
  well,
• 5:56
  we
• 5:56
  don't
• 5:56
  buy
• 5:56
  real
• 5:56
  estate.
• 5:57
  We
• 5:57
  only
• 5:57
  do
• 5:57
  our
• 5:57
  operations.
• 5:58
  And
• 5:58
  the
• 5:58
  deal
• 5:58
  fell
• 5:58
  through.
• 5:59
  So
• 5:59
  that's
• 5:59
  what,
• 5:59
  that's
• 6:00
  what
• 6:00
  got
• 6:00
  his
• 6:00
  wheel
• 6:00
  spinning.
• 6:00
  He's
• 6:01
  like,
• 6:01
  dude,
• 6:01
  we're
• 6:01
  bringing
• 6:01
  all
• 6:01
  this
• 6:02
  value
• 6:02
  and
• 6:02
  nobody's
• 6:02
  capitalizing
• 6:03
  on
• 6:03
  it.
• 6:03
  So
• 6:03
  like
• 6:04
  it
• 6:04
  was
• 6:04
  kind
• 6:04
  of
• 6:04
  like
• 6:04
  when
• 6:04
  we
• 6:05
  started
• 6:05
  working
• 6:05
  together,
• 6:05
  marrying
• 6:06
  those
• 6:06
  two
• 6:06
  rounds.
• 6:06
  So
• 6:07
  yeah,
• 6:07
  that's
• 6:07
  how
• 6:07
  I
• 6:08
  got
• 6:08
  into
• 6:08
  real
• 6:08
  estate.
• 6:08
  That's
• 6:09
  definitely
• 6:09
  a
• 6:09
  heck
• 6:09
  of
• 6:09
  a
• 6:09
  story.
• 6:10
  And
• 6:10
  it
• 6:10
  sounds
• 6:10
  like
• 6:10
  you
• 6:11
  have
• 6:11
  really
• 6:11
  good
• 6:11
  insight.
• 6:11
  You
• 6:12
  were
• 6:12
  house
• 6:12
  hacking
• 6:12
  before
• 6:13
  it
• 6:13
  was
• 6:13
  cool
• 6:13
  and
• 6:13
  you
• 6:13
  had
• 6:13
  the,
• 6:14
  the
• 6:14
  foresight.
• 6:14
  Sell
• 6:15
  the
• 6:15
  gyms
• 6:15
  before
• 6:15
  the
• 6:15
  pandemic
• 6:16
  hit.
• 6:16
  So,
• 6:16
  you
• 6:16
  know,
• 6:16
  you
• 6:17
  have.
• 6:17
  I
• 6:18
  got
• 6:18
  very
• 6:18
  blessed.
• 6:18
  You
• 6:19
  know,
• 6:19
  it's
• 6:19
  often
• 6:20
  that
• 6:20
  bigger
• 6:20
  pockets
• 6:21
  is
• 6:21
  credited
• 6:21
  with
• 6:21
  term
• 6:22
  house
• 6:22
  hacking,
• 6:22
  but
• 6:22
  it
• 6:22
  sounds
• 6:23
  like
• 6:23
  you
• 6:23
  can
• 6:23
  beat
• 6:23
  them
• 6:23
  to
• 6:23
  the,
• 6:24
  the
• 6:24
  gu.
• 6:24
  Yeah.
• 6:25
  So
• 6:25
  I,
• 6:26
  I
• 6:26
  was
• 6:26
  doing
• 6:27
  that
• 6:27
  before
• 6:27
  I
• 6:27
  heard
• 6:27
  about
• 6:28
  bigger
• 6:28
  pockets.
• 6:28
  But
• 6:29
  in
• 6:29
  fairness,
• 6:29
  it
• 6:29
  wasn't
• 6:30
  my
• 6:30
  idea.
• 6:30
  I'm.
• 6:30
  I
• 6:31
  got
• 6:31
  the
• 6:31
  idea
• 6:31
  from
• 6:31
  Rich
• 6:31
  Dad,
• 6:32
  Poor
• 6:32
  Dad.
• 6:32
  So
• 6:32
  I
• 6:32
  read
• 6:32
  Rich
• 6:33
  Dad,
• 6:33
  Poor
• 6:33
  dad
• 6:33
  when
• 6:33
  I
• 6:33
  was
• 6:34
  19
• 6:34
  and
• 6:34
  then
• 6:34
  I
• 6:35
  started
• 6:35
  doing
• 6:36
  actually
• 6:36
  with
• 6:36
  with
• 6:36
  houses.
• 6:37
  So
• 6:37
  I
• 6:37
  just
• 6:37
  had
• 6:38
  like,
• 6:38
  I
• 6:38
  find
• 6:38
  a
• 6:38
  lease
• 6:39
  to
• 6:39
  a
• 6:39
  house
• 6:39
  on
• 6:40
  a
• 6:40
  lake
• 6:40
  and
• 6:40
  then
• 6:40
  I'd
• 6:41
  sign
• 6:41
  the
• 6:41
  master
• 6:41
  lease,
• 6:41
  take
• 6:42
  on
• 6:42
  the
• 6:42
  risk
• 6:42
  of
• 6:42
  guaranteeing
• 6:43
  it
• 6:43
  for
• 6:43
  12
• 6:43
  months.
• 6:44
  And
• 6:44
  then
• 6:44
  I
• 6:44
  find
• 6:44
  individuals
• 6:45
  to
• 6:45
  pay
• 6:45
  each
• 6:46
  room
• 6:46
  that
• 6:46
  would.
• 6:46
  My
• 6:46
  goal
• 6:47
  was
• 6:47
  to
• 6:47
  get
• 6:47
  the
• 6:48
  like,
• 6:48
  if
• 6:48
  I
• 6:48
  did
• 6:48
  a
• 6:48
  four
• 6:48
  bedroom
• 6:49
  house,
• 6:49
  my
• 6:49
  goal
• 6:49
  was
• 6:49
  to
• 6:49
  charge
• 6:49
  enough
• 6:50
  for
• 6:50
  the
• 6:50
  three
• 6:50
  bedrooms
• 6:50
  to
• 6:50
  pay
• 6:50
  for
• 6:50
  my
• 6:51
  rent.
• 6:51
  So
• 6:51
  I
• 6:51
  live
• 6:51
  for
• 6:51
  freedom.
• 6:52
  But
• 6:52
  it
• 6:52
  wasn't
• 6:52
  called
• 6:52
  house
• 6:52
  hacking
• 6:53
  at
• 6:53
  the
• 6:53
  time.
• 6:53
  But
• 6:53
  like
• 6:53
  I
• 6:54
  gosh,
• 6:54
  something
• 6:54
  in
• 6:54
  Rich
• 6:55
  Dad
• 6:55
  Poor
• 6:55
  dad
• 6:55
  is
• 6:55
  like
• 6:55
  what
• 6:55
  gave
• 6:56
  me
• 6:56
  the
• 6:56
  idea
• 6:56
  to
• 6:56
  do
• 6:56
  it.
• 6:56
  So
• 6:56
  I
• 6:57
  can't
• 6:57
  take
• 6:57
  full
• 6:57
  credit.
• 6:58
  Well,
• 6:58
  you
• 6:58
  know,
• 6:59
  as
• 6:59
  a
• 6:59
  big
• 7:00
  fan
• 7:00
  myself,
• 7:00
  I
• 7:00
  can,
• 7:00
  I
• 7:01
  can
• 7:01
  always
• 7:01
  attest
• 7:01
  how
• 7:01
  much
• 7:01
  I
• 7:02
  learned
• 7:02
  from
• 7:02
  that.
• 7:02
  So,
• 7:02
  so
• 7:03
  I'm
• 7:03
  curious.
• 7:03
  It
• 7:03
  sounds
• 7:03
  like
• 7:03
  you've
• 7:04
  probably
• 7:04
  read
• 7:04
  some
• 7:05
  of
• 7:05
  his
• 7:05
  books.
• 7:05
  What
• 7:06
  lessons
• 7:06
  have
• 7:06
  you
• 7:06
  found
• 7:07
  most
• 7:07
  valuable
• 7:07
  from
• 7:07
  them
• 7:07
  that
• 7:08
  you've
• 7:08
  applied
• 7:08
  in
• 7:08
  real
• 7:08
  life?
• 7:09
  Yeah,
• 7:09
  it's
• 7:09
  funny.
• 7:09
  So
• 7:09
  I
• 7:10
  guess
• 7:10
  I
• 7:10
  should
• 7:11
  preface
• 7:11
  it
• 7:11
  with
• 7:11
  like,
• 7:12
  there's
• 7:12
  a
• 7:12
  lot
• 7:12
  of
• 7:12
  each
• 7:13
  leave
• 7:13
  the
• 7:13
  bones
• 7:13
  type
• 7:13
  things.
• 7:14
  So
• 7:14
  you
• 7:15
  know,
• 7:15
  I
• 7:15
  read
• 7:15
  that
• 7:15
  book
• 7:15
  in
• 7:15
  the
• 7:16
  Four
• 7:16
  Hour
• 7:16
  Workweek
• 7:17
  and
• 7:17
  the
• 7:17
  Entrepreneurial
• 7:18
  Myth,
• 7:18
  the
• 7:18
  E
• 7:18
  Myth
• 7:19
  when
• 7:19
  I
• 7:19
  was
• 7:19
  like
• 7:19
  19
• 7:20
  and
• 7:20
  I
• 7:20
  thought,
• 7:20
  man,
• 7:21
  I'm
• 7:21
  going
• 7:21
  to
• 7:21
  be
• 7:21
  like
• 7:22
  super
• 7:22
  wealthy
• 7:22
  getting
• 7:23
  passive
• 7:23
  income
• 7:23
  and
• 7:23
  retire
• 7:24
  by
• 7:24
  the
• 7:24
  time
• 7:24
  I'm
• 7:24
  22.
• 7:25
  Right.
• 7:25
  And
• 7:25
  it's
• 7:25
  like
• 7:25
  you
• 7:26
  can't
• 7:26
  just
• 7:26
  go
• 7:26
  read
• 7:26
  three
• 7:27
  books
• 7:27
  and
• 7:27
  know
• 7:27
  everything.
• 7:28
  So
• 7:28
  I
• 7:28
  will
• 7:28
  say,
• 7:29
  like
• 7:29
  it,
• 7:29
  he
• 7:29
  definitely
• 7:30
  sells
• 7:30
  a
• 7:30
  lot
• 7:31
  of
• 7:31
  concepts.
• 7:31
  That
• 7:31
  makes
• 7:31
  them
• 7:32
  sound
• 7:32
  easier
• 7:32
  than
• 7:32
  they
• 7:32
  are.
• 7:32
  But
• 7:33
  I
• 7:33
  think
• 7:33
  the
• 7:33
  concepts
• 7:34
  are
• 7:34
  solid.
• 7:35
  You
• 7:35
  know,
• 7:35
  partnering
• 7:36
  with
• 7:36
  people
• 7:36
  that
• 7:36
  are
• 7:36
  smarter
• 7:37
  than
• 7:37
  you.
• 7:37
  The
• 7:37
  four
• 7:38
  quadrants
• 7:38
  was
• 7:38
  really
• 7:39
  helpful
• 7:39
  for
• 7:39
  anybody
• 7:40
  who
• 7:40
  is
• 7:40
  not
• 7:40
  familiar
• 7:40
  with
• 7:40
  it.
• 7:41
  You
• 7:41
  have
• 7:42
  employed
• 7:42
  and
• 7:43
  then
• 7:43
  if
• 7:43
  you
• 7:43
  start
• 7:43
  your
• 7:43
  own
• 7:43
  llc,
• 7:44
  you
• 7:44
  become
• 7:44
  self
• 7:44
  employed,
• 7:45
  which
• 7:45
  means
• 7:45
  you're
• 7:45
  just
• 7:45
  doing
• 7:45
  all
• 7:45
  the
• 7:46
  work.
• 7:46
  You
• 7:46
  just
• 7:46
  don't
• 7:46
  have
• 7:46
  a
• 7:46
  boss,
• 7:46
  but
• 7:47
  your
• 7:47
  customers
• 7:47
  are
• 7:47
  your
• 7:47
  boss.
• 7:48
  Then
• 7:48
  you
• 7:48
  become
• 7:48
  a
• 7:48
  business
• 7:48
  owner,
• 7:49
  which
• 7:49
  means
• 7:49
  that
• 7:50
  like
• 7:50
  you
• 7:50
  have
• 7:50
  employees,
• 7:51
  you
• 7:51
  have
• 7:51
  people
• 7:52
  doing
• 7:52
  stuff
• 7:52
  for
• 7:52
  you.
• 7:52
  That's,
• 7:53
  it's
• 7:53
  like
• 7:53
  pretty
• 7:54
  high
• 7:54
  level
• 7:54
  stuff.
• 7:55
  But
• 7:55
  then
• 7:55
  really
• 7:56
  what
• 7:56
  he
• 7:56
  puts
• 7:56
  in
• 7:56
  the
• 7:56
  fourth
• 7:56
  quadrant
• 7:57
  is
• 7:57
  the
• 7:57
  investor.
• 7:58
  And
• 7:58
  that's
• 7:58
  when
• 7:58
  you're
• 7:58
  kind
• 7:59
  of
• 7:59
  just
• 7:59
  sitting
• 7:59
  on
• 7:59
  the
• 7:59
  board
• 8:00
  and
• 8:00
  you're
• 8:00
  not
• 8:00
  really
• 8:00
  doing
• 8:01
  any
• 8:01
  of
• 8:01
  the
• 8:01
  day
• 8:02
  to
• 8:02
  day
• 8:02
  operations
• 8:02
  at
• 8:02
  all.
• 8:03
  You
• 8:03
  can
• 8:03
  just
• 8:03
  kind
• 8:03
  of
• 8:03
  maybe
• 8:03
  help
• 8:04
  with
• 8:04
  a
• 8:04
  little
• 8:04
  bit
• 8:04
  of
• 8:04
  a
• 8:04
  strategic
• 8:05
  decision.
• 8:05
  So
• 8:05
  that's
• 8:05
  kind
• 8:05
  of
• 8:05
  the
• 8:05
  way
• 8:05
  that
• 8:06
  he
• 8:06
  categorizes
• 8:06
  it.
• 8:06
  And
• 8:06
  yeah,
• 8:07
  that
• 8:07
  was
• 8:07
  really
• 8:07
  impactful
• 8:08
  to
• 8:08
  me
• 8:08
  because
• 8:08
  I'm
• 8:08
  like,
• 8:08
  oh
• 8:09
  man,
• 8:09
  I'm,
• 8:09
  I'm
• 8:09
  just
• 8:10
  self
• 8:10
  employed.
• 8:10
  Like,
• 8:10
  I
• 8:10
  think
• 8:11
  that
• 8:11
  I'm
• 8:11
  a
• 8:11
  business
• 8:11
  owner,
• 8:12
  but
• 8:12
  like,
• 8:12
  I
• 8:12
  do
• 8:12
  all
• 8:12
  the
• 8:12
  own
• 8:13
  work
• 8:13
  myself.
• 8:13
  I
• 8:13
  just,
• 8:13
  I
• 8:14
  have
• 8:14
  an
• 8:14
  llc,
• 8:14
  I
• 8:14
  don't
• 8:15
  have
• 8:15
  a
• 8:15
  boss.
• 8:15
  So
• 8:16
  really
• 8:16
  trying
• 8:16
  to
• 8:16
  think
• 8:16
  about
• 8:17
  how
• 8:17
  do
• 8:17
  we
• 8:17
  partner
• 8:17
  with
• 8:18
  the
• 8:18
  right
• 8:18
  people.
• 8:18
  I
• 8:18
  mean,
• 8:18
  he
• 8:18
  was
• 8:18
  a
• 8:18
  huge
• 8:19
  real
• 8:19
  estate
• 8:19
  fan,
• 8:19
  so
• 8:20
  that
• 8:20
  definitely
• 8:20
  got
• 8:20
  me
• 8:20
  interested
• 8:21
  in
• 8:21
  real
• 8:21
  estate
• 8:21
  and
• 8:22
  buying
• 8:22
  real
• 8:22
  estate.
• 8:22
  Of
• 8:22
  course
• 8:23
  the
• 8:23
  timing
• 8:23
  was
• 8:23
  great,
• 8:24
  but.
• 8:24
  And
• 8:24
  then
• 8:25
  I,
• 8:25
  you
• 8:25
  know,
• 8:25
  I
• 8:26
  think
• 8:26
  it
• 8:26
  was
• 8:26
  just
• 8:26
  kind
• 8:26
  of
• 8:26
  like
• 8:27
  the
• 8:27
  way,
• 8:27
  you
• 8:27
  know,
• 8:27
  he
• 8:27
  called
• 8:27
  it
• 8:28
  his
• 8:28
  rich
• 8:28
  dad,
• 8:28
  which
• 8:28
  was
• 8:29
  not
• 8:29
  actually
• 8:29
  his
• 8:29
  dad.
• 8:30
  He
• 8:30
  was
• 8:30
  a
• 8:30
  hustler.
• 8:30
  And
• 8:30
  then
• 8:31
  his
• 8:31
  poor
• 8:31
  dad
• 8:31
  was
• 8:31
  his,
• 8:31
  like
• 8:32
  highly
• 8:32
  educated,
• 8:33
  got
• 8:33
  his
• 8:33
  bachelor,
• 8:34
  you
• 8:34
  know,
• 8:34
  his
• 8:35
  or
• 8:35
  his
• 8:35
  doctorate
• 8:35
  and
• 8:35
  like
• 8:36
  was
• 8:36
  a
• 8:36
  college
• 8:36
  professor.
• 8:37
  And
• 8:37
  I
• 8:37
  was
• 8:37
  like,
• 8:38
  that
• 8:38
  got
• 8:38
  me
• 8:38
  thinking
• 8:38
  too.
• 8:39
  It
• 8:39
  was
• 8:39
  like,
• 8:39
  yeah,
• 8:39
  like,
• 8:39
  you
• 8:40
  know,
• 8:40
  in
• 8:40
  school,
• 8:41
  what
• 8:41
  did
• 8:41
  I
• 8:41
  learn?
• 8:41
  Like,
• 8:41
  I
• 8:42
  never
• 8:42
  learned
• 8:42
  how
• 8:42
  to
• 8:43
  balance
• 8:43
  my
• 8:43
  checkbook.
• 8:44
  I
• 8:44
  mean,
• 8:44
  okay,
• 8:45
  maybe,
• 8:45
  but
• 8:45
  like
• 8:46
  it
• 8:46
  was
• 8:46
  like
• 8:46
  half
• 8:46
  of
• 8:46
  a,
• 8:47
  you
• 8:47
  know,
• 8:47
  half
• 8:47
  of
• 8:48
  a
• 8:48
  semester
• 8:48
  of
• 8:48
  government
• 8:49
  economics.
• 8:49
  And
• 8:49
  then
• 8:49
  it
• 8:49
  was
• 8:49
  like,
• 8:50
  I
• 8:50
  never
• 8:50
  learned
• 8:50
  how
• 8:50
  to
• 8:50
  apply
• 8:50
  for
• 8:51
  a
• 8:51
  mortgage.
• 8:51
  I
• 8:51
  never
• 8:51
  learned
• 8:51
  about
• 8:52
  credit
• 8:52
  card
• 8:52
  debt.
• 8:52
  I
• 8:52
  never
• 8:53
  learned
• 8:53
  like
• 8:53
  about
• 8:54
  compounding
• 8:54
  interest
• 8:55
  or
• 8:55
  compounding,
• 8:56
  you
• 8:56
  know,
• 8:56
  in
• 8:56
  the
• 8:56
  stock
• 8:57
  market.
• 8:57
  I
• 8:57
  never
• 8:57
  learned
• 8:57
  about
• 8:58
  sales.
• 8:58
  I
• 8:58
  never
• 8:58
  learned
• 8:59
  how
• 8:59
  to
• 8:59
  create
• 8:59
  a
• 8:59
  resume.
• 9:00
  Like,
• 9:00
  I
• 9:00
  learned
• 9:00
  about
• 9:00
  the
• 9:00
  Pythagorean
• 9:01
  theorem,
• 9:02
  you
• 9:02
  know,
• 9:02
  and
• 9:02
  so
• 9:02
  like
• 9:03
  that
• 9:03
  book
• 9:03
  was
• 9:03
  just
• 9:03
  like,
• 9:04
  man,
• 9:04
  there's
• 9:04
  so
• 9:05
  much
• 9:05
  that
• 9:05
  you
• 9:05
  can
• 9:05
  learn
• 9:05
  out
• 9:06
  there
• 9:06
  in
• 9:06
  the
• 9:06
  real
• 9:06
  world
• 9:06
  that
• 9:07
  like
• 9:07
  the
• 9:07
  school
• 9:07
  just
• 9:07
  does
• 9:08
  not
• 9:08
  teach
• 9:08
  you.
• 9:08
  So
• 9:09
  that's
• 9:09
  probably
• 9:09
  a
• 9:09
  long
• 9:09
  winded
• 9:10
  answer
• 9:10
  to
• 9:10
  really
• 9:10
  what
• 9:11
  was
• 9:11
  a
• 9:11
  short
• 9:11
  question.
• 9:12
  You
• 9:12
  know,
• 9:13
  it
• 9:13
  was,
• 9:13
  it
• 9:13
  was
• 9:13
  an
• 9:13
  insight
• 9:14
  and
• 9:14
  probably
• 9:14
  a
• 9:14
  very
• 9:14
  truthful
• 9:15
  one
• 9:15
  because
• 9:15
  I
• 9:15
  think
• 9:15
  a
• 9:15
  lot
• 9:15
  of
• 9:15
  people
• 9:16
  often
• 9:16
  are
• 9:16
  misguided
• 9:17
  by
• 9:17
  what
• 9:17
  they
• 9:17
  learn
• 9:18
  in
• 9:18
  the
• 9:18
  school
• 9:18
  system.
• 9:18
  But
• 9:18
  then
• 9:19
  you
• 9:19
  go
• 9:19
  out
• 9:19
  here
• 9:19
  and
• 9:19
  you
• 9:19
  see
• 9:19
  the
• 9:19
  real
• 9:20
  world
• 9:20
  and
• 9:20
  you're
• 9:20
  absolutely
• 9:20
  right.
• 9:21
  So
• 9:21
  let
• 9:21
  me
• 9:21
  go
• 9:21
  the
• 9:22
  other
• 9:22
  way.
• 9:22
  What
• 9:23
  do
• 9:23
  you
• 9:23
  find
• 9:23
  that
• 9:23
  impacted
• 9:24
  you
• 9:24
  from
• 9:24
  your
• 9:24
  experience
• 9:25
  at
• 9:25
  a
• 9:25
  wake
• 9:25
  quarter,
• 9:25
  various
• 9:26
  contests
• 9:26
  like
• 9:26
  American
• 9:27
  Ninja
• 9:27
  Warrior
• 9:27
  that
• 9:27
  you've
• 9:28
  been
• 9:28
  able
• 9:28
  to
• 9:28
  use
• 9:28
  in
• 9:28
  your
• 9:29
  business
• 9:29
  that's
• 9:29
  made
• 9:29
  you
• 9:30
  successful?
• 9:30
  Yeah,
• 9:31
  so
• 9:31
  I
• 9:31
  kind
• 9:32
  of
• 9:32
  touched
• 9:32
  on
• 9:32
  it
• 9:32
  a
• 9:32
  little
• 9:32
  bit,
• 9:33
  but
• 9:33
  I
• 9:33
  think,
• 9:33
  like,
• 9:34
  there's
• 9:34
  a
• 9:34
  lot
• 9:34
  of
• 9:34
  principles
• 9:35
  that
• 9:35
  are
• 9:35
  parallel
• 9:36
  to
• 9:36
  success.
• 9:37
  Like
• 9:37
  a
• 9:37
  lot
• 9:37
  of
• 9:37
  success
• 9:38
  principles
• 9:38
  that
• 9:38
  are
• 9:38
  parallel
• 9:39
  in
• 9:39
  whatever
• 9:39
  industry
• 9:39
  that
• 9:39
  you're
• 9:40
  in.
• 9:40
  And
• 9:40
  so
• 9:40
  it's
• 9:41
  actually
• 9:41
  what
• 9:41
  I
• 9:41
  found
• 9:41
  out
• 9:42
  was
• 9:42
  it's
• 9:42
  quite
• 9:42
  common
• 9:43
  for
• 9:43
  a
• 9:43
  lot
• 9:43
  of
• 9:44
  athletes
• 9:44
  to
• 9:44
  do
• 9:44
  really
• 9:44
  well,
• 9:45
  like
• 9:45
  when
• 9:45
  they
• 9:45
  retire.
• 9:46
  You
• 9:46
  know,
• 9:46
  it
• 9:46
  was
• 9:46
  a
• 9:46
  difficult
• 9:47
  transition
• 9:47
  for
• 9:47
  me
• 9:47
  to
• 9:48
  go
• 9:48
  from
• 9:48
  like,
• 9:48
  being
• 9:48
  a
• 9:48
  wakeboarder
• 9:49
  to
• 9:49
  being
• 9:49
  a
• 9:49
  real
• 9:49
  estate
• 9:49
  guy
• 9:49
  because,
• 9:50
  like,
• 9:50
  that
• 9:50
  was
• 9:50
  just
• 9:50
  my
• 9:50
  identity.
• 9:51
  That
• 9:51
  was
• 9:51
  all
• 9:51
  that
• 9:51
  I
• 9:51
  knew.
• 9:52
  But
• 9:52
  the,
• 9:53
  the
• 9:53
  things
• 9:53
  are,
• 9:54
  the
• 9:54
  hard
• 9:54
  work
• 9:54
  just
• 9:55
  trumps
• 9:55
  all.
• 9:55
  So,
• 9:56
  you
• 9:56
  know,
• 9:56
  there's
• 9:56
  a
• 9:56
  lot
• 9:56
  of
• 9:56
  times
• 9:57
  where
• 9:57
  you
• 9:57
  don't
• 9:57
  feel
• 9:58
  like
• 9:58
  putting
• 9:58
  in
• 9:58
  the
• 9:58
  work.
• 9:59
  You
• 9:59
  know,
• 9:59
  like
• 9:59
  in
• 9:59
  wakeboarding,
• 10:00
  if
• 10:00
  it
• 10:00
  was
• 10:01
  a
• 10:01
  little
• 10:01
  bit
• 10:01
  chilly
• 10:01
  one
• 10:01
  morning
• 10:01
  or
• 10:02
  it
• 10:02
  was
• 10:02
  like
• 10:02
  really
• 10:02
  early,
• 10:03
  you
• 10:03
  know,
• 10:03
  you
• 10:03
  have
• 10:03
  to
• 10:03
  get
• 10:03
  out
• 10:03
  there
• 10:04
  and
• 10:04
  you
• 10:04
  have
• 10:04
  to
• 10:04
  get
• 10:04
  in
• 10:04
  the
• 10:04
  water,
• 10:04
  like,
• 10:05
  and
• 10:05
  it's.
• 10:05
  And
• 10:06
  it's
• 10:06
  cold
• 10:06
  and
• 10:06
  it's.
• 10:06
  The
• 10:06
  conditions
• 10:07
  aren't
• 10:07
  great,
• 10:07
  but
• 10:07
  you,
• 10:08
  you
• 10:08
  just
• 10:08
  have
• 10:08
  to
• 10:08
  get
• 10:08
  up
• 10:08
  and
• 10:08
  do
• 10:09
  it
• 10:09
  and
• 10:09
  suck
• 10:09
  it
• 10:09
  up
• 10:09
  and
• 10:10
  do
• 10:10
  it
• 10:10
  anyway.
• 10:10
  And
• 10:11
  so
• 10:11
  it's
• 10:11
  like,
• 10:11
  with
• 10:11
  real
• 10:12
  estate
• 10:12
  or
• 10:12
  any
• 10:13
  business,
• 10:13
  there's
• 10:13
  just
• 10:13
  a
• 10:13
  lot
• 10:13
  of
• 10:13
  things
• 10:14
  that
• 10:14
  you
• 10:14
  don't
• 10:14
  always
• 10:14
  feel
• 10:14
  like
• 10:15
  doing.
• 10:15
  And
• 10:15
  so
• 10:15
  just
• 10:15
  like
• 10:16
  getting
• 10:16
  in
• 10:16
  the
• 10:16
  process
• 10:17
  of
• 10:17
  doing
• 10:17
  things,
• 10:18
  like,
• 10:18
  regardless
• 10:19
  of
• 10:19
  what
• 10:19
  you
• 10:19
  feel
• 10:20
  like,
• 10:20
  I
• 10:20
  think
• 10:20
  were
• 10:21
  some
• 10:21
  of
• 10:21
  the
• 10:21
  lessons
• 10:21
  that
• 10:21
  I
• 10:22
  learned.
• 10:22
  And
• 10:22
  the
• 10:22
  same
• 10:22
  is
• 10:22
  with,
• 10:23
  with
• 10:23
  Ninja
• 10:23
  Warrior.
• 10:24
  Ninja
• 10:24
  Warrior.
• 10:24
  You
• 10:25
  know,
• 10:25
  like,
• 10:25
  we
• 10:25
  go,
• 10:25
  we
• 10:25
  have
• 10:26
  a
• 10:26
  gym
• 10:26
  in
• 10:26
  Orlando
• 10:26
  that
• 10:26
  we
• 10:26
  go
• 10:27
  to,
• 10:27
  which
• 10:27
  is
• 10:27
  awesome.
• 10:28
  And
• 10:28
  we,
• 10:28
  we
• 10:29
  get
• 10:29
  to
• 10:29
  train
• 10:29
  with
• 10:29
  some
• 10:29
  like,
• 10:29
  really,
• 10:30
  really
• 10:30
  good
• 10:30
  people.
• 10:30
  But
• 10:31
  a
• 10:31
  lot
• 10:31
  of
• 10:31
  them
• 10:32
  are
• 10:32
  like
• 10:32
  16
• 10:33
  to
• 10:33
  20
• 10:33
  years
• 10:34
  old.
• 10:34
  I'm
• 10:34
  37.
• 10:35
  Like,
• 10:35
  you
• 10:35
  know,
• 10:36
  they
• 10:36
  weigh
• 10:36
  like
• 10:36
  125
• 10:37
  pounds.
• 10:38
  And
• 10:38
  it's
• 10:38
  like,
• 10:38
  that's
• 10:38
  great
• 10:38
  for
• 10:38
  like,
• 10:39
  your
• 10:39
  strength
• 10:39
  ratio.
• 10:39
  So
• 10:40
  like,
• 10:40
  a
• 10:40
  lot
• 10:40
  of
• 10:40
  times
• 10:40
  it's
• 10:40
  like,
• 10:40
  man,
• 10:41
  I
• 10:41
  don't
• 10:41
  feel
• 10:41
  like
• 10:41
  going
• 10:42
  in
• 10:42
  and
• 10:42
  doing
• 10:42
  like,
• 10:42
  everybody
• 10:43
  else
• 10:43
  is
• 10:43
  better
• 10:43
  than
• 10:43
  me.
• 10:44
  This
• 10:44
  is,
• 10:44
  this
• 10:44
  is
• 10:44
  not
• 10:45
  fun,
• 10:45
  blah,
• 10:45
  blah,
• 10:45
  blah.
• 10:45
  But
• 10:46
  if
• 10:46
  I
• 10:46
  Can
• 10:46
  just
• 10:46
  get
• 10:47
  myself
• 10:47
  to
• 10:47
  do
• 10:47
  it.
• 10:47
  Like,
• 10:48
  it's
• 10:48
  like
• 10:48
  getting
• 10:48
  myself
• 10:48
  to
• 10:48
  just
• 10:49
  take
• 10:49
  the
• 10:49
  first
• 10:49
  step.
• 10:50
  Usually
• 10:50
  what
• 10:50
  I
• 10:50
  find
• 10:50
  is
• 10:51
  like,
• 10:51
  you
• 10:51
  know,
• 10:51
  I
• 10:51
  walk
• 10:52
  out
• 10:52
  like
• 10:52
  feeling
• 10:52
  a
• 10:52
  lot
• 10:52
  better
• 10:53
  because
• 10:53
  of
• 10:53
  like
• 10:53
  the
• 10:54
  action
• 10:54
  that
• 10:54
  I
• 10:54
  took.
• 10:54
  You
• 10:55
  know,
• 10:55
  it's
• 10:55
  about
• 10:55
  taking
• 10:56
  those
• 10:56
  little,
• 10:56
  it's
• 10:57
  about
• 10:57
  the
• 10:57
  effort
• 10:57
  that
• 10:57
  you
• 10:57
  put
• 10:58
  in,
• 10:58
  you
• 10:58
  know,
• 10:58
  and
• 10:58
  then
• 10:59
  that
• 10:59
  creates
• 11:00
  a
• 11:00
  level
• 11:00
  of
• 11:00
  like
• 11:01
  contentment
• 11:01
  and
• 11:01
  happiness
• 11:02
  sometimes
• 11:02
  more
• 11:03
  than
• 11:03
  the
• 11:03
  actual
• 11:03
  results.
• 11:04
  So
• 11:04
  I
• 11:04
  think
• 11:04
  that's
• 11:05
  one
• 11:05
  of
• 11:05
  the
• 11:05
  things
• 11:05
  is
• 11:05
  just
• 11:05
  like
• 11:06
  focusing
• 11:06
  on
• 11:06
  the,
• 11:06
  on
• 11:07
  the
• 11:07
  process
• 11:07
  work,
• 11:07
  like
• 11:08
  doing
• 11:08
  the
• 11:08
  actions
• 11:08
  regardless
• 11:09
  of
• 11:09
  what
• 11:09
  you
• 11:09
  feel
• 11:09
  like
• 11:10
  and
• 11:10
  then
• 11:10
  you
• 11:10
  actually
• 11:11
  feel
• 11:11
  a
• 11:11
  lot
• 11:11
  better,
• 11:11
  you
• 11:11
  know.
• 11:12
  So
• 11:12
  I
• 11:12
  struggle
• 11:12
  with,
• 11:13
  is
• 11:13
  acknowledging
• 11:13
  the
• 11:13
  micro
• 11:14
  wins,
• 11:14
  but
• 11:14
  when
• 11:15
  I
• 11:15
  do,
• 11:15
  yes,
• 11:15
  the
• 11:16
  same
• 11:16
  across
• 11:16
  the
• 11:16
  board.
• 11:16
  Like
• 11:17
  I
• 11:17
  might
• 11:17
  not,
• 11:17
  you
• 11:17
  know,
• 11:18
  I'm
• 11:18
  not
• 11:18
  going
• 11:18
  to
• 11:18
  close
• 11:18
  a
• 11:18
  deal
• 11:19
  every
• 11:19
  day,
• 11:19
  obviously
• 11:20
  not
• 11:20
  even
• 11:20
  like
• 11:21
  really
• 11:21
  every
• 11:21
  month.
• 11:22
  But
• 11:22
  when
• 11:22
  you
• 11:23
  take
• 11:23
  those
• 11:23
  actions,
• 11:23
  like
• 11:24
  you
• 11:24
  reach
• 11:24
  out
• 11:24
  to
• 11:24
  investors
• 11:25
  or
• 11:25
  you
• 11:25
  reach
• 11:25
  out
• 11:25
  to
• 11:26
  leads
• 11:26
  or
• 11:26
  you,
• 11:26
  you
• 11:26
  know,
• 11:27
  whatever
• 11:27
  it
• 11:27
  is
• 11:27
  that
• 11:27
  you're
• 11:27
  doing.
• 11:27
  So
• 11:28
  it's
• 11:28
  those
• 11:29
  celebration
• 11:29
  of
• 11:29
  those
• 11:30
  steps
• 11:30
  or
• 11:30
  the
• 11:30
  acknowledgment
• 11:31
  of
• 11:31
  the
• 11:31
  work
• 11:31
  that
• 11:31
  you
• 11:32
  put
• 11:32
  in
• 11:32
  rather
• 11:32
  than
• 11:33
  the
• 11:33
  outcome.
• 11:33
  Well,
• 11:34
  you
• 11:34
  touched
• 11:34
  on
• 11:34
  something
• 11:34
  really
• 11:35
  important
• 11:35
  there.
• 11:36
  And
• 11:36
  it's
• 11:36
  probably
• 11:37
  something
• 11:37
  I
• 11:37
  heard,
• 11:37
  I've
• 11:37
  heard
• 11:38
  from
• 11:38
  just
• 11:38
  about
• 11:38
  every
• 11:38
  person
• 11:39
  I
• 11:39
  know.
• 11:39
  Any
• 11:39
  type
• 11:40
  of
• 11:40
  success
• 11:40
  in
• 11:40
  life
• 11:40
  and
• 11:41
  it's
• 11:41
  going
• 11:41
  through
• 11:42
  the
• 11:42
  process
• 11:42
  and
• 11:42
  doing
• 11:43
  what
• 11:43
  you
• 11:43
  need
• 11:43
  to
• 11:43
  do
• 11:43
  even
• 11:43
  when
• 11:44
  you
• 11:44
  don't
• 11:44
  want
• 11:44
  to
• 11:44
  do
• 11:44
  it.
• 11:44
  Yeah.
• 11:45
  What
• 11:45
  has
• 11:45
  that
• 11:46
  been
• 11:46
  in
• 11:46
  your
• 11:46
  journey?
• 11:47
  Yeah,
• 11:47
  that's
• 11:47
  everything,
• 11:48
  you
• 11:48
  know,
• 11:48
  like,
• 11:49
  I
• 11:49
  mean,
• 11:49
  yeah,
• 11:50
  there
• 11:50
  are
• 11:50
  some
• 11:50
  days
• 11:50
  where
• 11:51
  I
• 11:51
  do,
• 11:51
  I
• 11:51
  do
• 11:51
  feel
• 11:51
  like
• 11:52
  it
• 11:52
  for
• 11:52
  sure.
• 11:52
  But
• 11:53
  you
• 11:53
  know,
• 11:53
  if
• 11:53
  I
• 11:53
  only
• 11:53
  relied
• 11:54
  on
• 11:54
  the
• 11:54
  times
• 11:54
  that
• 11:54
  I
• 11:55
  felt
• 11:55
  like
• 11:55
  it,
• 11:55
  then
• 11:56
  I,
• 11:56
  you
• 11:56
  know,
• 11:57
  I
• 11:57
  just
• 11:57
  wouldn't
• 11:58
  really,
• 11:58
  I
• 11:58
  feel
• 11:58
  like
• 11:58
  I
• 11:58
  wouldn't
• 11:59
  really
• 11:59
  get
• 11:59
  that
• 11:59
  much
• 12:00
  done.
• 12:00
  So.
• 12:00
  Yeah,
• 12:01
  I
• 12:01
  don't
• 12:01
  know,
• 12:01
  I
• 12:01
  think
• 12:01
  like,
• 12:02
  maybe
• 12:02
  for
• 12:02
  people
• 12:02
  listening,
• 12:03
  the,
• 12:04
  you
• 12:04
  know,
• 12:04
  having
• 12:04
  structure.
• 12:05
  Jocko
• 12:05
  Willick
• 12:06
  talks
• 12:06
  about
• 12:06
  that.
• 12:07
  It's
• 12:07
  like
• 12:07
  discipline
• 12:08
  equals
• 12:08
  freedom.
• 12:08
  You
• 12:08
  know,
• 12:09
  it's
• 12:09
  like
• 12:09
  if
• 12:09
  you
• 12:09
  do
• 12:09
  the
• 12:10
  hard
• 12:10
  things
• 12:10
  first,
• 12:10
  if
• 12:10
  you
• 12:11
  have
• 12:11
  structure,
• 12:11
  then
• 12:11
  you
• 12:12
  have
• 12:12
  freedom
• 12:12
  to
• 12:12
  do
• 12:13
  other
• 12:13
  things
• 12:13
  later.
• 12:14
  So
• 12:14
  it's
• 12:14
  like,
• 12:14
  it
• 12:14
  sounds
• 12:14
  like
• 12:15
  a
• 12:15
  conundrum.
• 12:15
  It's
• 12:15
  like,
• 12:15
  how
• 12:16
  can
• 12:16
  I
• 12:16
  if
• 12:16
  I
• 12:16
  have
• 12:16
  discipline,
• 12:17
  like
• 12:17
  and
• 12:18
  I'm
• 12:18
  doing
• 12:18
  these
• 12:18
  really
• 12:18
  hard
• 12:18
  things,
• 12:18
  like
• 12:19
  I
• 12:19
  don't
• 12:19
  have
• 12:19
  freedom.
• 12:19
  Well,
• 12:19
  you
• 12:20
  know,
• 12:20
  you're
• 12:20
  gonna,
• 12:20
  you're
• 12:20
  gonna
• 12:21
  be
• 12:21
  forced
• 12:21
  to
• 12:21
  do
• 12:21
  something
• 12:22
  one
• 12:22
  way
• 12:22
  or
• 12:22
  another.
• 12:22
  So
• 12:22
  you
• 12:22
  might
• 12:23
  as
• 12:23
  well
• 12:23
  force
• 12:23
  yourself
• 12:24
  into
• 12:24
  doing
• 12:24
  the
• 12:24
  hard
• 12:24
  things
• 12:24
  so
• 12:25
  that
• 12:25
  you
• 12:25
  have
• 12:25
  like
• 12:25
  for
• 12:25
  instance,
• 12:26
  if
• 12:26
  you
• 12:26
  wake
• 12:26
  up
• 12:26
  at
• 12:27
  5am
• 12:27
  and
• 12:27
  work
• 12:27
  out
• 12:28
  and
• 12:28
  then
• 12:28
  do
• 12:28
  all
• 12:28
  the,
• 12:29
  your
• 12:29
  sales
• 12:29
  calls
• 12:30
  as
• 12:30
  an
• 12:30
  example
• 12:31
  like
• 12:31
  before
• 12:31
  11,
• 12:32
  like
• 12:32
  you've
• 12:33
  got
• 12:33
  freedom
• 12:33
  in
• 12:33
  the
• 12:33
  afternoon
• 12:34
  versus
• 12:34
  like
• 12:34
  if
• 12:34
  you
• 12:35
  just
• 12:35
  kind
• 12:35
  of
• 12:35
  relax
• 12:36
  and
• 12:36
  coast
• 12:36
  and
• 12:36
  like
• 12:37
  wait
• 12:37
  for,
• 12:37
  you
• 12:38
  know,
• 12:38
  you
• 12:38
  want
• 12:38
  freedom,
• 12:39
  you're
• 12:39
  probably
• 12:39
  going
• 12:39
  to
• 12:39
  end
• 12:39
  up
• 12:39
  taking
• 12:40
  a
• 12:40
  job
• 12:40
  and
• 12:40
  they're
• 12:40
  going
• 12:41
  to
• 12:41
  be,
• 12:41
  the
• 12:41
  employer
• 12:41
  is
• 12:41
  going
• 12:41
  to
• 12:41
  be
• 12:42
  forcing
• 12:42
  their
• 12:42
  agenda
• 12:43
  on
• 12:43
  you.
• 12:43
  Right.
• 12:44
  So
• 12:44
  that's
• 12:44
  not
• 12:44
  freedom.
• 12:45
  I
• 12:45
  mean,
• 12:45
  sure,
• 12:45
  you
• 12:46
  have
• 12:46
  nights
• 12:46
  and
• 12:46
  weekends,
• 12:47
  so
• 12:47
  everything
• 12:47
  has,
• 12:47
  has
• 12:48
  a
• 12:48
  trade
• 12:48
  off
• 12:48
  to
• 12:48
  it.
• 12:49
  But
• 12:49
  it's
• 12:49
  like,
• 12:50
  I
• 12:50
  guess
• 12:50
  like
• 12:50
  the,
• 12:51
  the,
• 12:51
  the
• 12:51
  way
• 12:51
  that
• 12:52
  I've
• 12:52
  been
• 12:52
  able
• 12:52
  to
• 12:53
  handle
• 12:53
  it
• 12:53
  or
• 12:53
  approach
• 12:53
  it
• 12:54
  is
• 12:54
  like
• 12:54
  getting
• 12:54
  better
• 12:55
  about,
• 12:55
  okay,
• 12:55
  okay,
• 12:55
  this
• 12:55
  is
• 12:55
  my
• 12:56
  time
• 12:56
  that
• 12:56
  I'm
• 12:56
  working.
• 12:57
  You
• 12:57
  know,
• 12:57
  regardless
• 12:57
  of
• 12:57
  what
• 12:58
  I
• 12:58
  feel
• 12:58
  like
• 12:58
  if
• 12:58
  I
• 12:58
  have
• 12:58
  this
• 12:58
  time
• 12:59
  blocked
• 12:59
  off,
• 12:59
  then
• 13:00
  it's
• 13:00
  like,
• 13:00
  okay,
• 13:01
  what,
• 13:01
  you
• 13:01
  know,
• 13:01
  what
• 13:01
  am
• 13:02
  I,
• 13:02
  what
• 13:02
  else
• 13:02
  am
• 13:02
  I
• 13:02
  going
• 13:02
  to
• 13:03
  do?
• 13:03
  I'm
• 13:03
  sitting
• 13:03
  here
• 13:03
  in
• 13:03
  front
• 13:03
  of
• 13:03
  my
• 13:03
  computer,
• 13:04
  in
• 13:04
  front
• 13:04
  of
• 13:04
  my
• 13:04
  desk,
• 13:04
  like
• 13:04
  I
• 13:05
  might
• 13:05
  as
• 13:05
  well
• 13:05
  just
• 13:05
  get
• 13:06
  the
• 13:06
  work
• 13:06
  done.
• 13:06
  Yeah,
• 13:07
  for
• 13:07
  sure.
• 13:07
  Well,
• 13:07
  absolutely.
• 13:08
  That's.
• 13:09
  What
• 13:09
  does
• 13:09
  that
• 13:09
  consistency
• 13:10
  and
• 13:10
  discipline
• 13:10
  look
• 13:11
  like
• 13:11
  on
• 13:11
  a
• 13:11
  day
• 13:11
  to
• 13:11
  day
• 13:12
  and,
• 13:12
  and
• 13:12
  how
• 13:12
  you
• 13:12
  show
• 13:12
  up
• 13:13
  sourcing
• 13:13
  like
• 13:13
  acquisitions
• 13:14
  for
• 13:14
  the
• 13:14
  healthcare
• 13:15
  that
• 13:15
  you're
• 13:15
  in
• 13:15
  right
• 13:15
  now.
• 13:16
  Yeah.
• 13:16
  So,
• 13:16
  you
• 13:16
  know,
• 13:16
  here's
• 13:17
  a
• 13:17
  little
• 13:17
  peek
• 13:17
  behind
• 13:17
  the
• 13:17
  curtains,
• 13:18
  but
• 13:18
  what
• 13:18
  you
• 13:18
  mentioned
• 13:18
  was
• 13:19
  our
• 13:19
  podcast
• 13:19
  helping
• 13:20
  healthcare
• 13:20
  scale.
• 13:21
  So
• 13:21
  we
• 13:22
  get
• 13:22
  clients
• 13:23
  by
• 13:23
  a
• 13:23
  couple
• 13:24
  of
• 13:24
  different
• 13:24
  ways.
• 13:24
  You
• 13:24
  know,
• 13:24
  it's
• 13:25
  number
• 13:25
  one
• 13:25
  is
• 13:25
  inviting
• 13:26
  them
• 13:26
  onto
• 13:26
  the
• 13:26
  podcast.
• 13:27
  We
• 13:27
  do
• 13:27
  what's
• 13:27
  called
• 13:27
  content
• 13:28
  based
• 13:28
  networking.
• 13:29
  So
• 13:29
  we're
• 13:30
  interviewing
• 13:30
  them,
• 13:30
  we're
• 13:31
  learning
• 13:31
  about
• 13:31
  their
• 13:31
  business,
• 13:32
  we
• 13:32
  want
• 13:32
  to
• 13:32
  promote
• 13:32
  them
• 13:32
  and
• 13:33
  provide
• 13:33
  value,
• 13:33
  you
• 13:33
  know,
• 13:34
  so
• 13:34
  they
• 13:34
  can
• 13:34
  talk
• 13:34
  about
• 13:35
  their,
• 13:35
  their
• 13:35
  business,
• 13:36
  our
• 13:36
  audience.
• 13:37
  But
• 13:37
  then
• 13:37
  also
• 13:37
  we're,
• 13:37
  we're
• 13:38
  wanting
• 13:38
  to
• 13:38
  figure
• 13:38
  out
• 13:38
  will
• 13:38
  this
• 13:39
  be
• 13:39
  a
• 13:39
  good
• 13:39
  partner
• 13:39
  for
• 13:39
  us?
• 13:39
  You
• 13:40
  know,
• 13:40
  is
• 13:40
  this
• 13:40
  somebody
• 13:40
  that
• 13:40
  we
• 13:40
  can
• 13:41
  do
• 13:41
  the
• 13:41
  site
• 13:41
  selection,
• 13:42
  is
• 13:42
  this
• 13:42
  somebody
• 13:42
  that
• 13:42
  we
• 13:42
  can
• 13:42
  buy
• 13:43
  their
• 13:43
  real
• 13:43
  estate?
• 13:43
  That's
• 13:44
  a
• 13:44
  big
• 13:44
  part
• 13:44
  of
• 13:44
  it.
• 13:44
  And
• 13:44
  then,
• 13:45
  but
• 13:45
  you
• 13:45
  know,
• 13:45
  to
• 13:45
  gain
• 13:45
  trust
• 13:45
  of
• 13:45
  a
• 13:46
  50,
• 13:46
  $100
• 13:46
  million
• 13:47
  organization
• 13:47
  takes
• 13:47
  time.
• 13:48
  Like
• 13:48
  a
• 13:46
  45
• 13:49
  minute
• 13:49
  one
• 13:49
  on
• 13:49
  one
• 13:49
  conversation
• 13:50
  is
• 13:50
  great,
• 13:50
  but
• 13:51
  it's
• 13:51
  in
• 13:51
  combination
• 13:52
  with
• 13:52
  staying
• 13:52
  in
• 13:52
  touch
• 13:52
  with
• 13:52
  them,
• 13:53
  following
• 13:53
  up
• 13:53
  with
• 13:53
  them
• 13:53
  with
• 13:53
  emails
• 13:54
  and
• 13:54
  then
• 13:54
  trying
• 13:54
  to
• 13:54
  see
• 13:54
  them
• 13:55
  at
• 13:55
  the
• 13:55
  events.
• 13:55
  You
• 13:55
  know,
• 13:55
  there's
• 13:55
  a
• 13:55
  couple
• 13:56
  of
• 13:56
  events
• 13:56
  that
• 13:56
  people
• 13:57
  go
• 13:57
  to
• 13:57
  every
• 13:57
  year.
• 13:57
  You
• 13:57
  know,
• 13:58
  in
• 13:58
  the,
• 13:58
  in
• 13:58
  the
• 13:58
  intro
• 13:58
  you
• 13:58
  talked
• 13:59
  about
• 13:59
  the,
• 14:00
  what's
• 14:00
  called
• 14:00
  the
• 14:00
  American
• 14:01
  Dental
• 14:01
  Support
• 14:02
  association,
• 14:02
  the
• 14:03
  ADSO
• 14:03
  and
• 14:03
  then
• 14:03
  the
• 14:04
  deo.
• 14:04
  Dental
• 14:05
  Entrepreneurial.
• 14:05
  Entrepreneurial
• 14:06
  organization.
• 14:07
  You
• 14:07
  know,
• 14:07
  it's,
• 14:07
  it's
• 14:07
  doing
• 14:08
  those
• 14:08
  touch
• 14:08
  points.
• 14:08
  So
• 14:09
  I
• 14:09
  think
• 14:09
  like
• 14:10
  some,
• 14:10
  maybe
• 14:11
  some
• 14:11
  helpful
• 14:11
  context
• 14:12
  for
• 14:12
  the
• 14:12
  audience
• 14:12
  would
• 14:12
  be
• 14:13
  like,
• 14:13
  you
• 14:13
  know,
• 14:13
  my
• 14:13
  partner
• 14:14
  has
• 14:14
  done
• 14:15
  hundreds
• 14:15
  of
• 14:15
  free
• 14:16
  site
• 14:16
  analysis
• 14:17
  for
• 14:17
  these
• 14:17
  different
• 14:17
  Groups,
• 14:18
  I
• 14:18
  mean,
• 14:18
  hundreds
• 14:18
  and
• 14:19
  hundreds
• 14:19
  of
• 14:19
  hundreds.
• 14:19
  It
• 14:19
  takes
• 14:19
  a
• 14:19
  lot
• 14:20
  of
• 14:20
  time.
• 14:20
  And
• 14:20
  the
• 14:20
  result
• 14:21
  is
• 14:21
  that
• 14:21
  there's
• 14:21
  five
• 14:22
  good
• 14:22
  clients.
• 14:23
  You
• 14:23
  know,
• 14:23
  there's
• 14:23
  been
• 14:23
  some
• 14:23
  deals,
• 14:24
  of
• 14:24
  course,
• 14:24
  a
• 14:24
  bunch
• 14:24
  of
• 14:25
  deals
• 14:25
  along
• 14:25
  the
• 14:25
  way.
• 14:25
  Like,
• 14:26
  you
• 14:26
  know,
• 14:26
  a
• 14:26
  bunch
• 14:27
  of
• 14:27
  deals.
• 14:27
  Right.
• 14:27
  But
• 14:27
  like
• 14:28
  really
• 14:28
  like
• 14:28
  for
• 14:28
  the
• 14:28
  ideal
• 14:29
  outcome,
• 14:29
  it's
• 14:29
  like
• 14:29
  five
• 14:29
  of
• 14:30
  that.
• 14:30
  So
• 14:30
  it
• 14:30
  just.
• 14:30
  Now
• 14:31
  one
• 14:31
  good
• 14:31
  client
• 14:31
  in
• 14:31
  our
• 14:32
  world
• 14:32
  can,
• 14:32
  I
• 14:32
  mean
• 14:33
  it's
• 14:33
  a,
• 14:33
  it's
• 14:33
  a,
• 14:33
  that's
• 14:34
  a
• 14:34
  lot,
• 14:34
  they'll
• 14:34
  bring
• 14:35
  you
• 14:35
  a
• 14:35
  lot
• 14:35
  of
• 14:35
  deals.
• 14:35
  Right.
• 14:36
  But
• 14:37
  it's
• 14:37
  just,
• 14:37
  it's
• 14:37
  the,
• 14:37
  it's
• 14:38
  the
• 14:38
  at
• 14:38
  bat
• 14:38
  thing,
• 14:38
  you
• 14:38
  know,
• 14:38
  you
• 14:39
  just
• 14:39
  have
• 14:39
  to
• 14:39
  have
• 14:39
  a
• 14:39
  lot
• 14:39
  of
• 14:39
  at
• 14:40
  bat.
• 14:40
  So
• 14:40
  does
• 14:40
  that
• 14:40
  answer
• 14:41
  your
• 14:41
  question?
• 14:41
  Yes,
• 14:42
  it
• 14:42
  does.
• 14:42
  And
• 14:42
  it
• 14:43
  sounds
• 14:43
  like
• 14:43
  you
• 14:43
  have
• 14:43
  a
• 14:43
  phenomenal
• 14:44
  database
• 14:45
  to
• 14:45
  syndicate
• 14:45
  multifamily
• 14:46
  if
• 14:46
  you
• 14:46
  ever
• 14:46
  decided
• 14:47
  to
• 14:47
  get
• 14:47
  into
• 14:47
  a
• 14:47
  different
• 14:48
  niche.
• 14:48
  That's
• 14:48
  for
• 14:49
  sure.
• 14:49
  Very
• 14:49
  cool.
• 14:50
  What
• 14:50
  has
• 14:50
  been
• 14:51
  your,
• 14:51
  I
• 14:51
  guess
• 14:51
  your
• 14:51
  least
• 14:51
  favorite
• 14:52
  part
• 14:52
  of
• 14:52
  the
• 14:53
  specific
• 14:53
  nature
• 14:53
  and
• 14:53
  with
• 14:54
  healthcare?
• 14:54
  Yeah,
• 14:55
  you
• 14:55
  know,
• 14:55
  I
• 14:55
  think
• 14:55
  that,
• 14:56
  Well,
• 14:56
  I
• 14:56
  can
• 14:57
  just
• 14:57
  talk
• 14:57
  about
• 14:57
  the
• 14:57
  challenges.
• 14:58
  You
• 14:58
  know,
• 14:58
  there's
• 14:58
  definitely
• 14:58
  a
• 14:58
  lot
• 14:58
  of
• 14:58
  challenges.
• 14:59
  So
• 15:00
  I
• 15:00
  would
• 15:00
  say
• 15:00
  that
• 15:01
  one
• 15:01
  of
• 15:01
  the.
• 15:01
  So
• 15:02
  we've
• 15:02
  kind
• 15:02
  of
• 15:03
  focused
• 15:03
  on
• 15:04
  being
• 15:04
  tenant
• 15:05
  driven
• 15:05
  and
• 15:05
  that
• 15:06
  means
• 15:06
  that
• 15:06
  like
• 15:06
  where
• 15:07
  the
• 15:07
  tenant
• 15:07
  wants
• 15:07
  to
• 15:07
  go
• 15:07
  when
• 15:08
  they
• 15:08
  give
• 15:08
  us
• 15:08
  an
• 15:08
  assignment,
• 15:08
  we'll
• 15:09
  go
• 15:09
  there.
• 15:09
  When
• 15:09
  we're
• 15:09
  doing
• 15:10
  a
• 15:10
  deal
• 15:10
  in
• 15:10
  Oregon,
• 15:10
  my
• 15:11
  partner
• 15:11
  does
• 15:11
  a
• 15:11
  lot
• 15:12
  of,
• 15:12
  of
• 15:12
  PD
• 15:13
  Pacific
• 15:13
  Dental
• 15:13
  out
• 15:13
  in
• 15:14
  California,
• 15:14
  a
• 15:14
  lot
• 15:15
  of
• 15:15
  their
• 15:15
  master
• 15:15
  lease
• 15:16
  brokerage
• 15:16
  and
• 15:16
  then
• 15:16
  we
• 15:16
  live
• 15:17
  in
• 15:17
  Orlando.
• 15:17
  So
• 15:18
  I
• 15:18
  would
• 15:18
  say
• 15:18
  that
• 15:18
  one
• 15:18
  of
• 15:18
  the
• 15:19
  challenges
• 15:19
  is
• 15:19
  like
• 15:20
  when
• 15:20
  we're
• 15:20
  talking
• 15:20
  with
• 15:21
  a
• 15:21
  group,
• 15:21
  they
• 15:21
  think,
• 15:22
  they
• 15:22
  automatically
• 15:22
  think,
• 15:23
  hey,
• 15:23
  you
• 15:23
  know,
• 15:23
  we
• 15:24
  want,
• 15:24
  we
• 15:24
  want
• 15:24
  local
• 15:25
  boots
• 15:25
  on
• 15:25
  the
• 15:25
  ground.
• 15:25
  Right.
• 15:26
  Like
• 15:26
  it's
• 15:26
  a,
• 15:27
  we
• 15:27
  have
• 15:27
  to
• 15:27
  overcome
• 15:27
  that
• 15:28
  first
• 15:28
  of
• 15:28
  all
• 15:28
  because
• 15:29
  there's
• 15:29
  this,
• 15:29
  this
• 15:29
  assumption
• 15:30
  that
• 15:30
  like
• 15:30
  you
• 15:31
  have
• 15:31
  to
• 15:31
  be
• 15:31
  local
• 15:31
  to
• 15:31
  know
• 15:32
  what's
• 15:32
  going
• 15:32
  on.
• 15:32
  And
• 15:32
  so
• 15:33
  ironically,
• 15:33
  when
• 15:34
  you
• 15:34
  work
• 15:34
  with
• 15:34
  a
• 15:34
  local
• 15:35
  broker
• 15:35
  in
• 15:36
  our
• 15:36
  situation,
• 15:37
  they're
• 15:37
  almost
• 15:38
  always
• 15:38
  involved
• 15:38
  in
• 15:39
  some
• 15:39
  sort
• 15:39
  of,
• 15:40
  they
• 15:40
  always
• 15:40
  have
• 15:40
  some
• 15:41
  sort
• 15:41
  of
• 15:41
  landlord
• 15:41
  relationships.
• 15:42
  Right.
• 15:42
  So
• 15:42
  it's
• 15:42
  like,
• 15:43
  it's
• 15:43
  hard
• 15:43
  to
• 15:43
  tell
• 15:43
  am
• 15:44
  I
• 15:44
  really
• 15:44
  getting
• 15:44
  like
• 15:45
  the
• 15:45
  best
• 15:45
  place
• 15:45
  for
• 15:45
  my
• 15:45
  business
• 15:46
  or
• 15:46
  am
• 15:46
  I
• 15:46
  getting
• 15:46
  the
• 15:47
  place
• 15:47
  that
• 15:47
  like
• 15:47
  my
• 15:48
  broker
• 15:48
  is
• 15:48
  going
• 15:48
  to
• 15:48
  get
• 15:48
  a
• 15:48
  double
• 15:49
  fee
• 15:49
  from?
• 15:49
  Because
• 15:49
  he,
• 15:49
  you
• 15:50
  know,
• 15:50
  he
• 15:50
  gets
• 15:50
  a,
• 15:50
  he
• 15:51
  gets
• 15:51
  to
• 15:51
  represent
• 15:51
  the
• 15:51
  landlord
• 15:51
  and
• 15:51
  now
• 15:52
  he
• 15:52
  has
• 15:52
  represent
• 15:52
  the
• 15:52
  tenant
• 15:53
  and
• 15:53
  he's
• 15:53
  making
• 15:53
  the
• 15:53
  full
• 15:53
  commission.
• 15:54
  Like
• 15:54
  that's,
• 15:54
  there's
• 15:55
  not
• 15:55
  really,
• 15:55
  there's
• 15:55
  a
• 15:55
  financial
• 15:56
  incentive
• 15:56
  to
• 15:56
  not
• 15:56
  have
• 15:57
  the
• 15:57
  group's
• 15:57
  best
• 15:57
  interests
• 15:58
  at
• 15:58
  heart.
• 15:58
  Whereas
• 15:59
  in
• 15:59
  our
• 15:59
  case
• 15:59
  we
• 16:00
  don't.
• 16:00
  You
• 16:00
  know,
• 16:00
  we're
• 16:01
  just
• 16:01
  our
• 16:01
  analysis,
• 16:02
  you
• 16:02
  know,
• 16:02
  again,
• 16:02
  to
• 16:03
  combat
• 16:03
  the
• 16:04
  kind
• 16:04
  of
• 16:04
  Negative
• 16:04
  sentiment
• 16:05
  around
• 16:05
  working
• 16:05
  with
• 16:05
  a
• 16:05
  non
• 16:06
  local
• 16:06
  broker.
• 16:06
  It's
• 16:07
  really
• 16:07
  the
• 16:07
  same
• 16:07
  process.
• 16:08
  I
• 16:08
  mean
• 16:08
  there
• 16:08
  you,
• 16:09
  you
• 16:09
  know,
• 16:09
  whether
• 16:09
  you're
• 16:09
  local
• 16:10
  or
• 16:10
  national,
• 16:10
  you're
• 16:11
  going
• 16:11
  to
• 16:11
  be
• 16:11
  using
• 16:11
  the
• 16:11
  same,
• 16:12
  you
• 16:12
  know,
• 16:12
  costar
• 16:12
  and
• 16:13
  LoopNet.
• 16:13
  And
• 16:14
  maybe
• 16:14
  they
• 16:14
  use
• 16:14
  subscription
• 16:15
  services
• 16:15
  like
• 16:15
  we
• 16:15
  use
• 16:15
  Pitney
• 16:16
  Bow,
• 16:16
  maybe
• 16:17
  they
• 16:17
  don't.
• 16:17
  You
• 16:17
  know,
• 16:17
  a
• 16:17
  lot
• 16:17
  of
• 16:17
  people
• 16:18
  use
• 16:18
  Buxton
• 16:18
  but
• 16:18
  like
• 16:19
  those
• 16:19
  are
• 16:19
  literally
• 16:19
  the
• 16:19
  same
• 16:20
  regardless
• 16:20
  of
• 16:20
  where
• 16:20
  you
• 16:20
  live.
• 16:21
  The
• 16:21
  only
• 16:21
  difference
• 16:21
  is
• 16:21
  going
• 16:22
  out
• 16:22
  and
• 16:22
  flying,
• 16:23
  you
• 16:23
  know,
• 16:23
  flying
• 16:24
  into
• 16:24
  town
• 16:24
  for
• 16:25
  like
• 16:25
  a
• 16:25
  day
• 16:25
  to
• 16:25
  just
• 16:26
  source
• 16:26
  all
• 16:26
  of
• 16:26
  the
• 16:27
  off
• 16:27
  market
• 16:27
  opportunities,
• 16:28
  you
• 16:28
  know,
• 16:28
  that
• 16:28
  are
• 16:29
  vacant
• 16:29
  that
• 16:29
  you
• 16:29
  can
• 16:30
  look
• 16:30
  up.
• 16:30
  So
• 16:30
  yeah,
• 16:30
  the
• 16:31
  process
• 16:31
  is
• 16:31
  really
• 16:31
  the
• 16:31
  exact
• 16:31
  same.
• 16:31
  So
• 16:32
  that's
• 16:32
  one
• 16:32
  of
• 16:32
  the
• 16:32
  obstacles
• 16:32
  we
• 16:32
  have
• 16:32
  to
• 16:33
  overcome.
• 16:33
  Another
• 16:33
  obstacle
• 16:34
  too
• 16:34
  is
• 16:34
  just
• 16:34
  the
• 16:34
  groups
• 16:35
  want
• 16:35
  to,
• 16:35
  a
• 16:35
  lot
• 16:36
  of
• 16:36
  groups
• 16:36
  want
• 16:36
  to
• 16:36
  buy
• 16:36
  their
• 16:36
  own
• 16:36
  real
• 16:37
  estate.
• 16:37
  So
• 16:38
  you
• 16:38
  know
• 16:38
  they
• 16:38
  hear
• 16:38
  about,
• 16:39
  I
• 16:39
  think
• 16:39
  it's
• 16:40
  due
• 16:40
  to
• 16:40
  a
• 16:40
  lot
• 16:40
  of
• 16:40
  gurus
• 16:41
  just
• 16:41
  saying
• 16:41
  that
• 16:41
  real
• 16:41
  estate
• 16:42
  is
• 16:42
  passive
• 16:42
  income.
• 16:43
  So
• 16:43
  I
• 16:43
  mean
• 16:43
  a
• 16:44
  lot
• 16:44
  of
• 16:44
  groups
• 16:44
  that
• 16:45
  like
• 16:45
  are
• 16:45
  really
• 16:45
  trying
• 16:45
  to
• 16:45
  grow
• 16:45
  and
• 16:46
  scale
• 16:46
  think,
• 16:46
  oh
• 16:46
  yeah,
• 16:46
  we
• 16:46
  got
• 16:46
  it
• 16:46
  on
• 16:46
  the
• 16:47
  real
• 16:47
  estate,
• 16:47
  we
• 16:47
  got
• 16:47
  it
• 16:47
  on
• 16:47
  the
• 16:47
  real
• 16:47
  estate.
• 16:48
  And
• 16:48
  so
• 16:48
  they
• 16:48
  will
• 16:49
  sometimes
• 16:49
  forego
• 16:50
  good
• 16:50
  locations
• 16:51
  because
• 16:51
  they
• 16:51
  don't
• 16:51
  want
• 16:51
  to
• 16:51
  lease,
• 16:52
  they
• 16:52
  want
• 16:52
  to
• 16:52
  buy.
• 16:52
  But
• 16:53
  then
• 16:53
  you
• 16:53
  know
• 16:53
  that
• 16:54
  it's
• 16:54
  requiring
• 16:55
  a
• 16:55
  lot
• 16:55
  of
• 16:55
  people
• 16:55
  don't
• 16:55
  under,
• 16:56
  they
• 16:56
  kind
• 16:56
  of
• 16:56
  underestimate
• 16:57
  that
• 16:57
  20%
• 16:58
  down
• 16:58
  payment.
• 16:58
  You
• 16:58
  know,
• 16:58
  you
• 16:58
  think
• 16:59
  like
• 16:59
  when
• 16:59
  you
• 16:59
  lease
• 16:59
  you
• 16:59
  throw
• 17:00
  your
• 17:00
  money
• 17:00
  away
• 17:00
  when
• 17:01
  you
• 17:01
  own
• 17:01
  like,
• 17:01
  you
• 17:01
  know,
• 17:01
  you're
• 17:02
  building
• 17:02
  equity.
• 17:02
  It's
• 17:02
  like
• 17:03
  well
• 17:03
  what
• 17:03
  are
• 17:03
  you
• 17:04
  know,
• 17:04
  putting
• 17:04
  a
• 17:04
  20
• 17:04
  to
• 17:05
  30,
• 17:05
  really
• 17:05
  right
• 17:05
  now,
• 17:06
  35%
• 17:07
  down
• 17:07
  payment
• 17:07
  is
• 17:07
  a
• 17:08
  huge
• 17:08
  opportunity
• 17:08
  cost
• 17:09
  to
• 17:09
  what
• 17:09
  else
• 17:09
  you
• 17:09
  could
• 17:09
  do
• 17:09
  with
• 17:09
  that
• 17:10
  money?
• 17:10
  And
• 17:10
  then
• 17:11
  most
• 17:11
  of
• 17:11
  your
• 17:11
  monthly
• 17:11
  payment
• 17:12
  is
• 17:12
  not
• 17:12
  building
• 17:12
  equity.
• 17:13
  You
• 17:13
  know,
• 17:13
  it's
• 17:13
  like
• 17:14
  taxes
• 17:14
  and
• 17:14
  insurance
• 17:15
  and
• 17:15
  interest
• 17:15
  and
• 17:16
  there's
• 17:16
  very
• 17:16
  few,
• 17:17
  very
• 17:17
  little
• 17:17
  of
• 17:17
  that
• 17:17
  is
• 17:17
  going
• 17:18
  to
• 17:18
  the
• 17:18
  principal
• 17:18
  pay
• 17:18
  down.
• 17:19
  So
• 17:19
  we
• 17:19
  have,
• 17:19
  we
• 17:20
  just.
• 17:20
  That's
• 17:20
  the
• 17:20
  other
• 17:21
  issue
• 17:21
  is
• 17:21
  dealing
• 17:21
  with
• 17:22
  groups
• 17:22
  that
• 17:22
  they
• 17:22
  want
• 17:22
  to
• 17:22
  buy
• 17:23
  the
• 17:23
  real
• 17:23
  estate
• 17:23
  at
• 17:23
  all
• 17:23
  costs.
• 17:24
  And
• 17:24
  so
• 17:24
  even
• 17:24
  developing
• 17:25
  it,
• 17:25
  you
• 17:25
  know,
• 17:25
  like
• 17:25
  that's,
• 17:25
  that's
• 17:26
  a
• 17:26
  really,
• 17:26
  that's
• 17:26
  a
• 17:27
  lot
• 17:27
  of
• 17:27
  work
• 17:27
  to
• 17:27
  develop
• 17:28
  and
• 17:28
  it's
• 17:28
  not
• 17:29
  really
• 17:29
  until
• 17:29
  they
• 17:29
  go
• 17:29
  through
• 17:29
  like
• 17:30
  the
• 17:30
  school
• 17:30
  of
• 17:30
  hard
• 17:30
  knocks
• 17:30
  I
• 17:30
  would
• 17:31
  call
• 17:31
  it
• 17:31
  where
• 17:31
  like
• 17:31
  they
• 17:31
  try
• 17:31
  and
• 17:32
  buy
• 17:32
  the
• 17:32
  real
• 17:32
  estate
• 17:33
  on
• 17:33
  their
• 17:33
  own
• 17:33
  and
• 17:33
  then
• 17:34
  they,
• 17:34
  you
• 17:34
  know,
• 17:34
  it's
• 17:34
  like,
• 17:34
  well
• 17:35
  the
• 17:35
  bank
• 17:35
  doesn't
• 17:35
  want
• 17:35
  to
• 17:35
  lend
• 17:35
  because
• 17:36
  they're
• 17:36
  already
• 17:36
  stretched
• 17:36
  out
• 17:37
  or
• 17:37
  they
• 17:37
  can't
• 17:37
  raise
• 17:37
  the
• 17:37
  money
• 17:37
  because
• 17:38
  they're
• 17:38
  funding
• 17:38
  it
• 17:38
  for
• 17:38
  operations
• 17:39
  or
• 17:39
  they
• 17:39
  don't
• 17:40
  have
• 17:40
  the
• 17:40
  manpower
• 17:41
  on
• 17:41
  their
• 17:41
  staff
• 17:41
  to
• 17:41
  oversee
• 17:42
  a
• 17:42
  development
• 17:42
  deal
• 17:43
  or
• 17:43
  oversee
• 17:43
  like
• 17:44
  you
• 17:44
  know,
• 17:44
  the
• 17:44
  brokerage,
• 17:44
  the
• 17:44
  signing
• 17:45
  of
• 17:45
  the
• 17:45
  leases
• 17:45
  or
• 17:45
  all
• 17:45
  that
• 17:45
  sort
• 17:46
  of
• 17:46
  stuff.
• 17:46
  So
• 17:46
  there
• 17:46
  kind
• 17:47
  of,
• 17:47
  sometimes
• 17:47
  there
• 17:47
  has
• 17:47
  to
• 17:48
  be
• 17:48
  a
• 17:48
  little
• 17:48
  bit
• 17:48
  of
• 17:48
  a
• 17:48
  learning
• 17:48
  experience
• 17:49
  for
• 17:49
  them
• 17:49
  to
• 17:50
  come
• 17:50
  back
• 17:50
  and
• 17:50
  say,
• 17:50
  okay,
• 17:50
  you
• 17:50
  know
• 17:50
  what,
• 17:51
  why
• 17:51
  don't
• 17:51
  we
• 17:51
  partner
• 17:51
  with
• 17:51
  you
• 17:51
  guys
• 17:52
  on
• 17:52
  this?
• 17:52
  Yeah,
• 17:52
  I
• 17:53
  do
• 17:53
  a
• 17:53
  little
• 17:53
  bit
• 17:53
  of
• 17:54
  business
• 17:54
  brokerage
• 17:54
  and
• 17:54
  I
• 17:55
  definitely
• 17:55
  have
• 17:55
  found
• 17:56
  like
• 17:56
  according
• 17:56
  to
• 17:56
  how
• 17:57
  quickly
• 17:57
  a
• 17:57
  company
• 17:58
  wants
• 17:58
  to
• 17:58
  scale,
• 17:59
  like
• 17:59
  if
• 17:59
  they're
• 17:59
  looking
• 17:59
  to
• 17:59
  scale
• 18:00
  multiple
• 18:01
  locations
• 18:01
  within
• 18:01
  a
• 18:02
  three
• 18:02
  year
• 18:02
  period,
• 18:02
  I'm
• 18:03
  like
• 18:03
  purchasing
• 18:04
  the
• 18:04
  real
• 18:04
  estate
• 18:04
  is
• 18:04
  only
• 18:05
  going
• 18:05
  to,
• 18:05
  you
• 18:05
  know,
• 18:05
  slow
• 18:06
  you
• 18:06
  down.
• 18:06
  Now
• 18:06
  if
• 18:07
  you're
• 18:07
  looking
• 18:07
  to
• 18:07
  do
• 18:07
  an
• 18:08
  acquisition
• 18:08
  and
• 18:08
  retain
• 18:09
  the
• 18:09
  real
• 18:09
  estate,
• 18:10
  that
• 18:10
  can
• 18:10
  be
• 18:10
  great.
• 18:10
  But
• 18:11
  then
• 18:11
  in
• 18:11
  that
• 18:11
  situation,
• 18:12
  sometimes
• 18:12
  it's
• 18:13
  like
• 18:13
  you're
• 18:13
  making
• 18:13
  a
• 18:14
  personal
• 18:14
  portfolio
• 18:15
  decision
• 18:15
  versus
• 18:16
  what's
• 18:16
  best
• 18:16
  for
• 18:16
  the
• 18:16
  actual
• 18:17
  business,
• 18:17
  like
• 18:17
  you
• 18:17
  based
• 18:18
  on
• 18:18
  location.
• 18:19
  So
• 18:19
  yes,
• 18:19
  definitely
• 18:20
  a
• 18:20
  little
• 18:20
  bit
• 18:20
  of
• 18:20
  a
• 18:20
  learning
• 18:20
  curve
• 18:21
  to
• 18:21
  that.
• 18:21
  But
• 18:21
  interesting
• 18:22
  challenges
• 18:23
  and
• 18:23
  I
• 18:24
  guess
• 18:24
  what
• 18:24
  are
• 18:24
  the
• 18:25
  interesting
• 18:26
  solutions
• 18:26
  that
• 18:26
  you
• 18:26
  have
• 18:27
  for
• 18:27
  those
• 18:27
  challenges
• 18:27
  as
• 18:27
  well?
• 18:28
  Very,
• 18:28
  very
• 18:28
  neat.
• 18:29
  Yeah,
• 18:29
  yeah,
• 18:29
  yeah,
• 18:30
  exactly.
• 18:30
  Like,
• 18:30
  you
• 18:31
  know,
• 18:31
  I
• 18:31
  think
• 18:31
  that
• 18:32
  especially
• 18:32
  it's
• 18:32
  funny,
• 18:33
  like
• 18:33
  the
• 18:33
  less
• 18:34
  kind
• 18:34
  of
• 18:34
  like
• 18:34
  the
• 18:34
  less
• 18:34
  sophisticated
• 18:35
  you
• 18:35
  are,
• 18:35
  the
• 18:35
  more
• 18:35
  you
• 18:36
  want
• 18:36
  to
• 18:36
  own
• 18:36
  the
• 18:36
  real
• 18:36
  estate,
• 18:37
  right?
• 18:37
  Which
• 18:37
  when
• 18:37
  you
• 18:37
  can
• 18:38
  least
• 18:38
  kind
• 18:38
  of
• 18:38
  handle
• 18:38
  it.
• 18:38
  So
• 18:38
  it's
• 18:39
  like
• 18:39
  you
• 18:39
  can
• 18:39
  get
• 18:39
  to
• 18:40
  a
• 18:40
  point,
• 18:40
  you
• 18:40
  know,
• 18:40
  we
• 18:40
  work
• 18:40
  with
• 18:41
  groups
• 18:41
  or
• 18:41
  have
• 18:41
  worked
• 18:42
  with
• 18:42
  groups
• 18:42
  once
• 18:42
  they
• 18:42
  get
• 18:42
  to
• 18:43
  like
• 18:43
  let's
• 18:43
  call
• 18:43
  it
• 18:43
  80
• 18:44
  locations,
• 18:44
  maybe
• 18:44
  70,
• 18:45
  maybe
• 18:45
  a
• 18:45
  hundred
• 18:46
  at
• 18:46
  some
• 18:46
  point
• 18:46
  you're
• 18:46
  doing
• 18:47
  so
• 18:47
  much
• 18:47
  real
• 18:47
  estate,
• 18:47
  like
• 18:47
  you
• 18:47
  just
• 18:48
  have
• 18:48
  your
• 18:48
  own
• 18:48
  in
• 18:48
  house
• 18:48
  real
• 18:48
  estate
• 18:49
  team.
• 18:49
  Right?
• 18:49
  Like
• 18:49
  that's
• 18:49
  when
• 18:50
  it
• 18:50
  totally
• 18:50
  makes
• 18:50
  sense
• 18:51
  to
• 18:51
  like,
• 18:51
  let's
• 18:51
  do
• 18:51
  a
• 18:51
  real
• 18:51
  estate
• 18:52
  play.
• 18:52
  But
• 18:52
  when
• 18:52
  you're
• 18:52
  trying
• 18:53
  to
• 18:53
  scale
• 18:53
  up
• 18:53
  from
• 18:54
  there,
• 18:54
  it
• 18:54
  really
• 18:54
  is
• 18:55
  a,
• 18:56
  almost
• 18:56
  like
• 18:56
  a
• 18:56
  distraction,
• 18:57
  you
• 18:57
  know,
• 18:57
  and
• 18:57
  like
• 18:57
  maybe
• 18:58
  you
• 18:58
  can
• 18:58
  do
• 18:58
  it
• 18:58
  if
• 18:58
  this
• 18:58
  is
• 18:59
  not
• 18:59
  your
• 18:59
  first
• 18:59
  go
• 18:59
  around.
• 18:59
  Like
• 19:00
  if
• 19:00
  you
• 19:00
  have
• 19:00
  a
• 19:00
  lot
• 19:00
  of,
• 19:01
  you
• 19:01
  know,
• 19:01
  personal
• 19:01
  wealth
• 19:02
  built
• 19:02
  up
• 19:02
  from
• 19:02
  another
• 19:02
  venture
• 19:03
  and
• 19:03
  now
• 19:03
  you're
• 19:03
  trying
• 19:03
  to
• 19:03
  scale
• 19:03
  a
• 19:03
  new
• 19:04
  company
• 19:04
  and
• 19:04
  you
• 19:04
  want
• 19:04
  to
• 19:04
  start
• 19:04
  a
• 19:04
  separate
• 19:05
  fund,
• 19:05
  like
• 19:05
  yeah,
• 19:05
  that
• 19:05
  absolutely
• 19:06
  makes
• 19:06
  sense.
• 19:06
  But
• 19:06
  a
• 19:07
  lot
• 19:07
  of
• 19:07
  founders
• 19:07
  just
• 19:08
  don't
• 19:08
  understand
• 19:08
  or
• 19:09
  even
• 19:09
  like
• 19:09
  the
• 19:09
  C
• 19:09
  suite
• 19:09
  executive
• 19:10
  team
• 19:10
  just
• 19:10
  don't
• 19:11
  understand
• 19:11
  really
• 19:11
  the
• 19:11
  resource
• 19:12
  equipment
• 19:12
  that
• 19:12
  it
• 19:12
  takes
• 19:13
  to
• 19:13
  have
• 19:14
  what
• 19:14
  is
• 19:15
  really
• 19:15
  a
• 19:15
  real
• 19:15
  estate
• 19:15
  organization,
• 19:16
  you
• 19:16
  know,
• 19:16
  on
• 19:16
  the
• 19:17
  side.
• 19:17
  Absolutely.
• 19:18
  And
• 19:19
  I
• 19:19
  guess
• 19:19
  when
• 19:19
  you,
• 19:20
  with
• 19:20
  the
• 19:20
  duplex,
• 19:20
  when
• 19:20
  you
• 19:21
  bought
• 19:21
  that,
• 19:21
  going
• 19:22
  back
• 19:22
  in
• 19:22
  your
• 19:22
  journey
• 19:22
  a
• 19:22
  little
• 19:23
  bit,
• 19:23
  did
• 19:23
  you
• 19:23
  live
• 19:23
  in
• 19:23
  that?
• 19:24
  Did
• 19:24
  you
• 19:24
  house
• 19:24
  hack
• 19:24
  that
• 19:25
  or
• 19:25
  you
• 19:25
  just
• 19:25
  bought
• 19:25
  that
• 19:25
  with
• 19:26
  investment
• 19:26
  loan?
• 19:27
  Yeah,
• 19:27
  so
• 19:28
  we
• 19:28
  were,
• 19:28
  you
• 19:28
  know,
• 19:28
  I
• 19:28
  was
• 19:29
  living
• 19:29
  in
• 19:29
  this
• 19:29
  house.
• 19:29
  I
• 19:29
  said
• 19:30
  it
• 19:30
  was
• 19:30
  run
• 19:30
  down.
• 19:30
  It
• 19:30
  was
• 19:30
  also
• 19:31
  in
• 19:31
  like
• 19:31
  a
• 19:31
  pretty
• 19:32
  bad
• 19:32
  neighborhood.
• 19:32
  And
• 19:33
  so
• 19:33
  as
• 19:33
  I
• 19:34
  was
• 19:34
  looking
• 19:34
  to
• 19:34
  get
• 19:34
  married,
• 19:34
  I
• 19:35
  was
• 19:35
  like,
• 19:35
  you
• 19:35
  know
• 19:35
  what?
• 19:35
  I
• 19:35
  don't,
• 19:36
  I
• 19:36
  don't
• 19:36
  think
• 19:36
  my
• 19:36
  wife
• 19:36
  is
• 19:37
  going
• 19:37
  to
• 19:37
  want
• 19:37
  to.
• 19:37
  Want
• 19:37
  to
• 19:38
  live
• 19:38
  here.
• 19:38
  Exactly.
• 19:38
  So
• 19:39
  let's
• 19:39
  look
• 19:39
  for
• 19:39
  a
• 19:39
  new
• 19:39
  spot.
• 19:40
  So
• 19:40
  I
• 19:41
  found
• 19:41
  this.
• 19:41
  Yeah,
• 19:42
  it's
• 19:42
  kind
• 19:42
  of
• 19:42
  a
• 19:42
  funny
• 19:43
  story
• 19:43
  too.
• 19:43
  Like
• 19:44
  the,
• 19:44
  it
• 19:44
  was
• 19:45
  a.
• 19:45
  It
• 19:45
  was
• 19:45
  a
• 19:45
  house
• 19:46
  that
• 19:46
  was
• 19:46
  directly
• 19:46
  next
• 19:47
  door
• 19:47
  to
• 19:47
  a
• 19:47
  place
• 19:47
  that
• 19:47
  I
• 19:47
  used
• 19:47
  to
• 19:48
  rent.
• 19:48
  And
• 19:48
  so
• 19:49
  it
• 19:49
  was
• 19:49
  kind
• 19:49
  of
• 19:49
  funny
• 19:49
  because,
• 19:50
  like,
• 19:50
  I
• 19:50
  had.
• 19:50
  I
• 19:50
  was
• 19:51
  looking
• 19:51
  to
• 19:51
  go,
• 19:51
  you
• 19:51
  know,
• 19:51
  buy
• 19:52
  the
• 19:52
  house
• 19:52
  in
• 19:52
  a
• 19:52
  safer
• 19:53
  neighborhood.
• 19:53
  I
• 19:53
  went
• 19:53
  over,
• 19:54
  I
• 19:54
  looked
• 19:54
  at
• 19:54
  one
• 19:55
  house
• 19:55
  because
• 19:55
  I
• 19:56
  just,
• 19:56
  I
• 19:56
  knew
• 19:56
  this
• 19:56
  property
• 19:57
  from
• 19:57
  like
• 19:57
  living
• 19:57
  next
• 19:57
  door.
• 19:58
  I
• 19:58
  knew
• 19:58
  the
• 19:58
  guy,
• 19:58
  he
• 19:58
  had
• 19:58
  died
• 19:59
  and
• 19:59
  looked
• 19:59
  at
• 19:59
  one
• 19:59
  house.
• 20:00
  And
• 20:00
  then
• 20:00
  for
• 20:01
  whatever
• 20:01
  reason,
• 20:01
  like,
• 20:01
  I
• 20:01
  ended
• 20:02
  up
• 20:02
  kind
• 20:02
  of
• 20:02
  being
• 20:02
  like,
• 20:02
  you
• 20:02
  know,
• 20:03
  you
• 20:03
  know
• 20:03
  what?
• 20:03
  I
• 20:03
  think
• 20:03
  I
• 20:03
  broke
• 20:03
  up
• 20:04
  with
• 20:04
  that
• 20:04
  girlfriend
• 20:04
  at
• 20:04
  the
• 20:05
  time.
• 20:05
  And
• 20:05
  I
• 20:05
  was
• 20:05
  like,
• 20:05
  well,
• 20:05
  whatever,
• 20:06
  I
• 20:06
  don't
• 20:06
  have
• 20:06
  to
• 20:06
  buy
• 20:06
  another
• 20:07
  house.
• 20:07
  It's
• 20:07
  too
• 20:07
  much
• 20:07
  headache.
• 20:07
  So
• 20:08
  I'll.
• 20:08
  I
• 20:08
  didn't
• 20:08
  make
• 20:08
  an
• 20:09
  offer
• 20:09
  or
• 20:09
  nothing.
• 20:09
  I
• 20:09
  just,
• 20:09
  I
• 20:10
  left.
• 20:10
  Well,
• 20:10
  then
• 20:10
  the
• 20:10
  owners
• 20:11
  talked
• 20:11
  to
• 20:12
  the
• 20:12
  neighbors
• 20:13
  who
• 20:13
  I
• 20:13
  said
• 20:13
  hello
• 20:13
  to
• 20:14
  as
• 20:14
  I
• 20:14
  was
• 20:14
  passing.
• 20:14
  They're
• 20:15
  like,
• 20:15
  hey,
• 20:15
  why
• 20:15
  didn't
• 20:15
  this.
• 20:15
  We
• 20:16
  never
• 20:16
  heard
• 20:16
  back
• 20:16
  from
• 20:16
  this
• 20:16
  person,
• 20:17
  blah,
• 20:17
  blah.
• 20:17
  Anyways,
• 20:17
  long
• 20:17
  story
• 20:18
  short,
• 20:18
  they
• 20:18
  got
• 20:18
  in
• 20:18
  touch
• 20:18
  with
• 20:18
  me
• 20:18
  directly.
• 20:19
  They.
• 20:19
  Because
• 20:20
  I
• 20:20
  never
• 20:20
  talked
• 20:20
  to
• 20:20
  their
• 20:20
  realtor.
• 20:21
  So
• 20:21
  we
• 20:22
  set
• 20:22
  a
• 20:22
  side
• 20:22
  letter.
• 20:22
  They
• 20:23
  dropped
• 20:23
  the
• 20:23
  price.
• 20:23
  This
• 20:23
  is
• 20:23
  like
• 20:23
  2015,
• 20:24
  I
• 20:25
  believe.
• 20:25
  So
• 20:25
  they
• 20:25
  dropped
• 20:25
  the
• 20:25
  price
• 20:26
  from
• 20:26
  like
• 20:26
  395
• 20:27
  to
• 20:27
  like
• 20:27
  315
• 20:28
  if
• 20:28
  we
• 20:28
  could
• 20:28
  go
• 20:28
  directly.
• 20:29
  And
• 20:29
  it
• 20:29
  was
• 20:29
  like
• 20:29
  a
• 20:29
  2600
• 20:30
  square
• 20:30
  foot
• 20:30
  house,
• 20:31
  you
• 20:31
  know,
• 20:31
  seven
• 20:31
  bedrooms.
• 20:32
  It
• 20:32
  was
• 20:32
  a
• 20:32
  duplex,
• 20:33
  two
• 20:33
  stories
• 20:33
  on
• 20:33
  the
• 20:33
  lake
• 20:34
  with
• 20:34
  a
• 20:34
  pool,
• 20:34
  same
• 20:35
  type
• 20:35
  of
• 20:35
  thing
• 20:35
  for
• 20:36
  315,000.
• 20:37
  And
• 20:37
  I
• 20:37
  was
• 20:37
  like,
• 20:37
  okay,
• 20:37
  well,
• 20:38
  if
• 20:38
  you're
• 20:38
  going
• 20:38
  to
• 20:38
  drop
• 20:38
  the
• 20:38
  price
• 20:38
  that
• 20:38
  much,
• 20:39
  sure.
• 20:39
  So
• 20:39
  really,
• 20:39
  like
• 20:39
  the
• 20:39
  deal
• 20:39
  just
• 20:40
  kind
• 20:40
  of
• 20:40
  fell
• 20:40
  into
• 20:40
  my
• 20:40
  lap,
• 20:40
  you
• 20:41
  know.
• 20:41
  And,
• 20:41
  and
• 20:41
  so,
• 20:41
  yeah,
• 20:41
  we
• 20:42
  ended
• 20:42
  up.
• 20:42
  I
• 20:42
  ended
• 20:42
  up
• 20:43
  living
• 20:43
  upstairs.
• 20:44
  I
• 20:44
  did
• 20:44
  long
• 20:45
  term
• 20:45
  rentals
• 20:45
  downstairs.
• 20:46
  And
• 20:46
  then
• 20:46
  what
• 20:46
  happened
• 20:47
  was
• 20:47
  I
• 20:47
  was
• 20:48
  still
• 20:48
  renting
• 20:48
  out
• 20:48
  my
• 20:49
  old
• 20:49
  place
• 20:49
  long
• 20:49
  term,
• 20:50
  and
• 20:50
  I
• 20:50
  was
• 20:51
  literally
• 20:51
  what
• 20:51
  you
• 20:51
  call
• 20:51
  a
• 20:51
  slumlord.
• 20:52
  I
• 20:52
  had
• 20:52
  a
• 20:52
  bunch
• 20:52
  of
• 20:52
  different
• 20:53
  people.
• 20:53
  Like,
• 20:53
  I
• 20:53
  had
• 20:53
  a
• 20:54
  master
• 20:54
  lease
• 20:54
  to
• 20:54
  a
• 20:54
  guy
• 20:55
  who
• 20:55
  couldn't,
• 20:55
  he
• 20:55
  couldn't
• 20:56
  round
• 20:56
  up
• 20:56
  the
• 20:56
  roommates
• 20:57
  to
• 20:57
  pay.
• 20:57
  So
• 20:57
  he's
• 20:57
  like,
• 20:57
  hey,
• 20:57
  man,
• 20:57
  sorry.
• 20:58
  Like,
• 20:58
  here's
• 20:58
  my
• 20:58
  rent.
• 20:59
  I
• 20:59
  can't
• 20:59
  get
• 20:59
  these
• 20:59
  guys
• 21:00
  to
• 21:00
  pay.
• 21:00
  So
• 21:00
  I
• 21:00
  was
• 21:00
  like
• 21:00
  collecting
• 21:01
  individual
• 21:01
  checks.
• 21:02
  They
• 21:02
  were
• 21:02
  destroying
• 21:02
  the
• 21:02
  house.
• 21:03
  It
• 21:03
  was
• 21:03
  miserable.
• 21:03
  Well,
• 21:04
  when
• 21:04
  I
• 21:04
  was
• 21:04
  traveling
• 21:04
  for
• 21:04
  wakeboarding,
• 21:05
  I
• 21:05
  would
• 21:05
  put
• 21:05
  up
• 21:06
  the
• 21:06
  upstairs
• 21:06
  place
• 21:06
  where
• 21:07
  I
• 21:07
  lived
• 21:07
  on
• 21:07
  Airbnb,
• 21:08
  and
• 21:08
  it
• 21:08
  rented
• 21:08
  out
• 21:08
  Every
• 21:08
  single
• 21:09
  weekend.
• 21:09
  So
• 21:09
  I
• 21:10
  was
• 21:10
  about.
• 21:10
  I
• 21:10
  put
• 21:11
  the
• 21:11
  other
• 21:11
  house
• 21:11
  up
• 21:11
  for
• 21:11
  sale,
• 21:12
  my
• 21:12
  original
• 21:12
  house,
• 21:12
  because
• 21:13
  I
• 21:13
  was
• 21:13
  so
• 21:13
  over
• 21:13
  it.
• 21:13
  And
• 21:13
  I
• 21:13
  was
• 21:13
  like,
• 21:13
  you
• 21:14
  know
• 21:14
  what?
• 21:14
  Before
• 21:14
  I
• 21:14
  actually
• 21:15
  sell
• 21:15
  it
• 21:15
  and
• 21:15
  throw
• 21:15
  the
• 21:15
  towel,
• 21:16
  let's
• 21:16
  just
• 21:16
  try
• 21:16
  this
• 21:16
  Airbnb
• 21:17
  thing.
• 21:17
  So
• 21:17
  what?
• 21:18
  Back
• 21:18
  then,
• 21:18
  it
• 21:18
  was
• 21:18
  not
• 21:18
  hard.
• 21:18
  I
• 21:19
  mean,
• 21:19
  I
• 21:19
  had
• 21:19
  clothes
• 21:19
  in
• 21:19
  the
• 21:19
  closet,
• 21:20
  I
• 21:20
  had
• 21:20
  food
• 21:20
  in
• 21:20
  the
• 21:20
  fridge.
• 21:21
  Like,
• 21:21
  people
• 21:21
  rented
• 21:21
  it
• 21:22
  out.
• 21:22
  They
• 21:22
  just
• 21:22
  didn't
• 21:22
  care.
• 21:22
  It
• 21:22
  was
• 21:22
  such
• 21:23
  a
• 21:23
  different
• 21:23
  time
• 21:23
  frame.
• 21:24
  And
• 21:24
  sure
• 21:25
  enough,
• 21:25
  that
• 21:25
  thing
• 21:25
  did
• 21:25
  really
• 21:26
  well
• 21:26
  on
• 21:26
  Airbnb.
• 21:27
  And
• 21:27
  so
• 21:27
  I'm
• 21:27
  like,
• 21:27
  man,
• 21:27
  this
• 21:27
  is
• 21:28
  interesting.
• 21:28
  So
• 21:28
  I
• 21:28
  ended
• 21:29
  up
• 21:29
  getting
• 21:29
  married.
• 21:29
  Me
• 21:29
  and
• 21:29
  my
• 21:29
  wife
• 21:30
  lived
• 21:30
  upstairs,
• 21:30
  you
• 21:30
  know.
• 21:30
  You
• 21:31
  know,
• 21:31
  to
• 21:31
  my.
• 21:31
  Now
• 21:32
  that.
• 21:32
  That.
• 21:33
  That
• 21:33
  girlfriend
• 21:33
  did
• 21:33
  work
• 21:33
  out,
• 21:34
  we're
• 21:34
  living
• 21:34
  upstairs.
• 21:35
  We
• 21:35
  kick
• 21:35
  out
• 21:36
  the
• 21:36
  roommates
• 21:36
  downstairs,
• 21:37
  and
• 21:37
  we
• 21:37
  remodel
• 21:38
  that
• 21:38
  place
• 21:38
  to
• 21:38
  do
• 21:38
  an
• 21:38
  Airbnb.
• 21:39
  And.
• 21:39
  And
• 21:40
  that's
• 21:40
  kind
• 21:40
  of
• 21:40
  how
• 21:40
  we
• 21:40
  got
• 21:40
  started
• 21:40
  with
• 21:41
  that.
• 21:41
  And.
• 21:41
  And
• 21:41
  then
• 21:41
  that
• 21:42
  kind
• 21:42
  of
• 21:42
  led
• 21:42
  to
• 21:42
  buying
• 21:42
  some
• 21:42
  luxury
• 21:43
  Airbnbs
• 21:43
  and
• 21:43
  some
• 21:44
  wedding
• 21:44
  venues.
• 21:44
  How
• 21:45
  very,
• 21:45
  very
• 21:46
  cool.
• 21:46
  And
• 21:47
  way
• 21:47
  to
• 21:47
  optimize
• 21:48
  your
• 21:48
  real
• 21:48
  estate.
• 21:49
  I,
• 21:49
  like,
• 21:49
  get
• 21:49
  out
• 21:50
  on
• 21:50
  the
• 21:50
  weekends
• 21:50
  while
• 21:50
  you're
• 21:51
  doing
• 21:51
  your
• 21:51
  traveling.
• 21:52
  Very
• 21:52
  neat.
• 21:53
  Yeah.
• 21:53
  You
• 21:53
  know,
• 21:53
  so,
• 21:53
  again,
• 21:54
  I
• 21:54
  guess
• 21:54
  I
• 21:54
  got
• 21:54
  lucky
• 21:54
  in
• 21:54
  the
• 21:54
  sense
• 21:55
  that,
• 21:55
  like,
• 21:55
  I
• 21:55
  didn't
• 21:55
  have
• 21:56
  to
• 21:56
  take
• 21:56
  because
• 21:56
  I
• 21:57
  was
• 21:57
  scared
• 21:57
  to
• 21:57
  buy
• 21:57
  a
• 21:57
  house
• 21:58
  for
• 21:58
  Airbnb
• 21:58
  because
• 21:59
  it's
• 21:59
  like,
• 21:59
  wait
• 21:59
  a
• 21:59
  minute,
• 22:00
  you
• 22:00
  know,
• 22:00
  it's
• 22:00
  100,
• 22:01
  whatever,
• 22:01
  you
• 22:01
  know,
• 22:01
  $200
• 22:02
  a
• 22:02
  night.
• 22:02
  Like,
• 22:02
  well,
• 22:03
  my
• 22:03
  mortgage
• 22:03
  is
• 22:03
  1200
• 22:04
  or
• 22:04
  1700.
• 22:05
  Like,
• 22:05
  that
• 22:05
  means
• 22:05
  I
• 22:05
  got
• 22:05
  to
• 22:05
  get
• 22:05
  at
• 22:05
  least
• 22:06
  eight
• 22:06
  nights
• 22:06
  booked.
• 22:07
  Right?
• 22:07
  Like.
• 22:07
  Like,
• 22:07
  I
• 22:08
  was.
• 22:08
  I
• 22:08
  was
• 22:08
  like,
• 22:08
  I
• 22:08
  don't
• 22:08
  know
• 22:08
  if
• 22:08
  people
• 22:09
  are
• 22:09
  going
• 22:09
  to
• 22:09
  want
• 22:09
  it.
• 22:09
  Right.
• 22:09
  And
• 22:09
  of
• 22:09
  course,
• 22:10
  like,
• 22:10
  at
• 22:10
  the
• 22:10
  time,
• 22:10
  the
• 22:10
  demand
• 22:10
  was
• 22:11
  huge.
• 22:11
  I
• 22:11
  just
• 22:11
  had
• 22:11
  no
• 22:11
  idea.
• 22:12
  But
• 22:12
  I
• 22:12
  got
• 22:12
  really
• 22:12
  lucky
• 22:13
  in,
• 22:13
  like,
• 22:13
  how
• 22:13
  I
• 22:13
  was
• 22:13
  able
• 22:13
  to
• 22:14
  dip
• 22:14
  my
• 22:14
  toes
• 22:14
  in
• 22:15
  before
• 22:15
  I
• 22:15
  went,
• 22:15
  like,
• 22:16
  all
• 22:16
  the
• 22:16
  way
• 22:16
  in.
• 22:16
  And
• 22:16
  I
• 22:17
  guess
• 22:17
  the
• 22:17
  metaphor
• 22:17
  there
• 22:17
  would
• 22:17
  be
• 22:17
  like,
• 22:18
  you
• 22:18
  know,
• 22:18
  if
• 22:18
  you
• 22:18
  want
• 22:18
  to
• 22:19
  get
• 22:19
  into
• 22:19
  commercial
• 22:19
  real
• 22:19
  estate,
• 22:20
  you
• 22:20
  know,
• 22:20
  you
• 22:20
  can
• 22:20
  probably
• 22:20
  dip
• 22:20
  your
• 22:21
  toes
• 22:21
  in
• 22:21
  by
• 22:21
  being
• 22:21
  an
• 22:22
  lp.
• 22:22
  Right.
• 22:22
  By
• 22:22
  being
• 22:23
  an
• 22:23
  investor
• 22:24
  before
• 22:24
  you
• 22:25
  go
• 22:25
  all
• 22:25
  in
• 22:26
  on
• 22:26
  just,
• 22:27
  like,
• 22:27
  syndicating
• 22:27
  your
• 22:28
  own
• 22:28
  deals.
• 22:28
  Like,
• 22:28
  there
• 22:28
  are,
• 22:28
  like,
• 22:29
  different
• 22:29
  steps
• 22:29
  to
• 22:29
  it.
• 22:30
  Yeah.
• 22:30
  Let
• 22:30
  me
• 22:30
  ask
• 22:31
  you
• 22:31
  a
• 22:31
  question
• 22:31
  about
• 22:31
  that.
• 22:31
  So
• 22:32
  that's
• 22:32
  something
• 22:32
  I've
• 22:32
  actually
• 22:32
  debated
• 22:33
  with
• 22:33
  many
• 22:33
  people,
• 22:33
  and
• 22:33
  I'm
• 22:34
  curious
• 22:34
  to
• 22:34
  hear
• 22:34
  different
• 22:35
  perspectives
• 22:35
  on
• 22:35
  it.
• 22:36
  So
• 22:36
  for
• 22:36
  somebody
• 22:36
  just
• 22:37
  starting
• 22:37
  out,
• 22:37
  where
• 22:38
  would
• 22:38
  you.
• 22:38
  What
• 22:39
  would
• 22:39
  you
• 22:39
  advise
• 22:39
  them?
• 22:39
  The
• 22:40
  benefit
• 22:40
  of
• 22:40
  being
• 22:40
  the
• 22:41
  LP
• 22:41
  first
• 22:41
  before
• 22:41
  going
• 22:42
  out
• 22:42
  and
• 22:42
  syndicating
• 22:42
  their
• 22:43
  own
• 22:43
  dealers?
• 22:43
  There
• 22:44
  are
• 22:44
  so
• 22:44
  many
• 22:45
  things
• 22:45
  that
• 22:45
  you
• 22:45
  have
• 22:45
  to
• 22:45
  learn
• 22:46
  when
• 22:46
  it
• 22:46
  comes
• 22:46
  to
• 22:46
  real
• 22:47
  estate,
• 22:47
  you
• 22:47
  know,
• 22:47
  like,
• 22:47
  I
• 22:48
  guess
• 22:48
  it
• 22:48
  totally
• 22:48
  Depends
• 22:48
  on
• 22:49
  the
• 22:49
  scope
• 22:50
  of
• 22:50
  the
• 22:50
  project.
• 22:51
  Maybe
• 22:51
  if
• 22:51
  you're
• 22:51
  doing
• 22:51
  a
• 22:52
  residential
• 22:52
  single
• 22:53
  family
• 22:53
  fix
• 22:53
  and
• 22:54
  flip,
• 22:54
  that
• 22:54
  could
• 22:54
  be
• 22:55
  something.
• 22:55
  You
• 22:55
  might
• 22:55
  just
• 22:55
  have
• 22:56
  to
• 22:56
  get
• 22:56
  your
• 22:56
  hands
• 22:56
  dirty.
• 22:57
  But
• 22:57
  even
• 22:57
  then,
• 22:57
  the
• 22:57
  stakes
• 22:58
  are
• 22:58
  lower
• 22:58
  if
• 22:58
  you
• 22:58
  are
• 22:58
  an
• 22:58
  investor
• 22:59
  because
• 22:59
  usually
• 22:59
  it's
• 22:59
  a
• 23:00
  less,
• 23:00
  you
• 23:00
  know,
• 23:00
  lower
• 23:00
  requirement
• 23:01
  to
• 23:01
  do
• 23:01
  that.
• 23:02
  But
• 23:02
  you
• 23:02
  know,
• 23:02
  when
• 23:03
  it
• 23:03
  like
• 23:03
  the
• 23:03
  limited
• 23:04
  partner.
• 23:04
  I
• 23:05
  just
• 23:05
  learned
• 23:05
  this,
• 23:05
  you
• 23:06
  know,
• 23:06
  maybe,
• 23:07
  maybe
• 23:07
  a
• 23:07
  year
• 23:07
  or
• 23:07
  two
• 23:07
  ago,
• 23:07
  which
• 23:08
  is
• 23:08
  kind
• 23:08
  of
• 23:08
  embarrassing.
• 23:08
  But
• 23:08
  limited
• 23:09
  partner
• 23:09
  means
• 23:09
  like,
• 23:09
  you're
• 23:09
  limited
• 23:10
  to
• 23:10
  the
• 23:10
  amount
• 23:10
  of
• 23:10
  money
• 23:11
  that
• 23:11
  you
• 23:11
  invest
• 23:11
  as
• 23:11
  your
• 23:12
  loss.
• 23:12
  The
• 23:12
  general
• 23:13
  partners
• 23:13
  are
• 23:13
  the
• 23:13
  ones
• 23:13
  signing
• 23:14
  on
• 23:14
  the
• 23:14
  debt
• 23:14
  and
• 23:14
  taking
• 23:14
  on
• 23:14
  the
• 23:15
  risk.
• 23:15
  So
• 23:15
  you're,
• 23:16
  you're
• 23:16
  generally
• 23:17
  usually
• 23:17
  responsible
• 23:18
  for
• 23:18
  the
• 23:19
  entire
• 23:19
  amount
• 23:19
  of
• 23:19
  the
• 23:20
  debt.
• 23:20
  So
• 23:20
  in
• 23:20
  a
• 23:20
  deal
• 23:20
  where
• 23:21
  you're
• 23:21
  doing
• 23:21
  a
• 23:21
  70%
• 23:22
  loan
• 23:22
  to
• 23:22
  value,
• 23:23
  say
• 23:23
  it's
• 23:23
  a
• 23:23
  million
• 23:23
  bucks,
• 23:24
  well,
• 23:24
  your
• 23:24
  limited
• 23:24
  partners
• 23:25
  are
• 23:25
  going
• 23:25
  to
• 23:25
  be
• 23:26
  responsible
• 23:26
  for
• 23:26
  the
• 23:26
  300,000
• 23:27
  or
• 23:27
  whatever
• 23:27
  it
• 23:27
  is.
• 23:27
  If
• 23:27
  you
• 23:28
  have
• 23:28
  three
• 23:28
  of
• 23:28
  them
• 23:28
  at
• 23:28
  100
• 23:28
  grand
• 23:29
  each,
• 23:29
  it's
• 23:29
  whatever
• 23:29
  they
• 23:30
  commit.
• 23:30
  But
• 23:30
  you're
• 23:30
  responsible
• 23:31
  for
• 23:31
  the
• 23:31
  $700,000.
• 23:33
  Now,
• 23:33
  the
• 23:33
  chances
• 23:33
  of
• 23:34
  you
• 23:34
  like
• 23:34
  the
• 23:34
  asset
• 23:35
  dropping
• 23:35
  30%
• 23:36
  is
• 23:36
  like
• 23:36
  pretty
• 23:36
  low,
• 23:36
  but
• 23:36
  still
• 23:37
  it's
• 23:37
  a
• 23:37
  risk
• 23:37
  that
• 23:37
  you,
• 23:38
  you
• 23:38
  should
• 23:38
  consider.
• 23:39
  And
• 23:39
  then
• 23:40
  there's
• 23:40
  just,
• 23:40
  you
• 23:40
  know,
• 23:41
  the,
• 23:41
  it's,
• 23:42
  it
• 23:42
  is
• 23:42
  difficult
• 23:43
  to
• 23:43
  get
• 23:43
  banks
• 23:43
  to
• 23:43
  approve
• 23:44
  of
• 23:44
  you,
• 23:44
  right,
• 23:44
  to
• 23:45
  like
• 23:45
  you're
• 23:45
  signing
• 23:45
  on
• 23:45
  the
• 23:45
  debt.
• 23:45
  But
• 23:46
  the
• 23:46
  banks
• 23:46
  need
• 23:46
  to
• 23:46
  look
• 23:46
  at
• 23:46
  your
• 23:46
  bal
• 23:47
  sheet
• 23:47
  and
• 23:47
  your
• 23:47
  personal
• 23:47
  finances
• 23:48
  and
• 23:48
  they
• 23:48
  want
• 23:48
  to
• 23:48
  know
• 23:48
  that
• 23:48
  you're
• 23:49
  a
• 23:49
  strong
• 23:49
  candidate.
• 23:49
  And
• 23:49
  if
• 23:50
  you're
• 23:50
  getting
• 23:50
  started,
• 23:50
  you
• 23:50
  might
• 23:50
  not
• 23:51
  be
• 23:51
  strong
• 23:51
  enough.
• 23:51
  So
• 23:51
  you
• 23:51
  got
• 23:51
  to
• 23:52
  take
• 23:52
  on
• 23:52
  partners.
• 23:52
  And
• 23:53
  then
• 23:53
  how
• 23:53
  much
• 23:53
  construction
• 23:53
  is
• 23:54
  involved?
• 23:54
  You
• 23:54
  know,
• 23:54
  have
• 23:54
  you
• 23:54
  ever
• 23:54
  done
• 23:54
  construction?
• 23:55
  Have
• 23:55
  you
• 23:55
  ever
• 23:55
  partnered
• 23:56
  with
• 23:56
  the
• 23:56
  crew?
• 23:56
  I
• 23:56
  mean,
• 23:56
  I
• 23:57
  think
• 23:57
  like,
• 23:57
  you
• 23:57
  know,
• 23:57
  just
• 23:58
  in
• 23:58
  like
• 23:58
  the,
• 23:58
  the
• 23:59
  small,
• 23:59
  like
• 23:59
  the
• 23:59
  residential
• 24:00
  construction
• 24:00
  that
• 24:00
  I've
• 24:00
  done,
• 24:01
  like
• 24:01
  I
• 24:01
  should
• 24:01
  call
• 24:02
  it,
• 24:02
  like
• 24:02
  rehab
• 24:03
  has
• 24:03
  just
• 24:03
  been
• 24:03
  a
• 24:04
  nightmare.
• 24:04
  I
• 24:04
  mean,
• 24:04
  it
• 24:04
  has
• 24:05
  been
• 24:05
  so
• 24:05
  miserable.
• 24:06
  Now
• 24:06
  the
• 24:06
  difference
• 24:06
  in
• 24:06
  the
• 24:06
  commercial
• 24:07
  real
• 24:07
  estate
• 24:07
  world
• 24:07
  is
• 24:08
  like,
• 24:08
  we
• 24:08
  pay
• 24:08
  a
• 24:08
  lot
• 24:08
  more
• 24:08
  money.
• 24:09
  We
• 24:09
  work
• 24:09
  with
• 24:09
  commercial
• 24:10
  contractors
• 24:11
  and
• 24:11
  like,
• 24:11
  I
• 24:11
  mean,
• 24:12
  it's
• 24:12
  insanely
• 24:13
  expensive.
• 24:13
  You
• 24:13
  know,
• 24:13
  it's
• 24:13
  night
• 24:14
  and
• 24:14
  day,
• 24:14
  but
• 24:14
  they
• 24:14
  get
• 24:14
  the
• 24:14
  job
• 24:14
  done.
• 24:15
  So
• 24:15
  that's
• 24:15
  kind
• 24:15
  of
• 24:15
  like
• 24:15
  the
• 24:15
  trade
• 24:16
  off.
• 24:16
  Like,
• 24:16
  like
• 24:16
  it's
• 24:16
  hard
• 24:16
  to
• 24:17
  find
• 24:17
  residential
• 24:17
  guys
• 24:17
  in
• 24:17
  my
• 24:18
  experience
• 24:18
  that
• 24:18
  really
• 24:19
  do
• 24:19
  a
• 24:19
  good
• 24:19
  job.
• 24:19
  And
• 24:19
  if
• 24:19
  you're
• 24:20
  not
• 24:20
  doing
• 24:20
  this
• 24:20
  full
• 24:20
  time
• 24:20
  with
• 24:21
  a
• 24:21
  full
• 24:21
  team
• 24:21
  of
• 24:21
  guys,
• 24:21
  like,
• 24:21
  if
• 24:22
  you're
• 24:22
  just
• 24:22
  doing
• 24:22
  one
• 24:22
  deal,
• 24:22
  I
• 24:23
  mean,
• 24:23
  you're
• 24:23
  pretty
• 24:23
  much
• 24:24
  stuck,
• 24:24
  you
• 24:24
  know,
• 24:25
  going
• 24:25
  with
• 24:25
  the,
• 24:26
  the
• 24:26
  best
• 24:26
  bidder.
• 24:27
  You
• 24:27
  know,
• 24:27
  maybe
• 24:27
  it's
• 24:28
  maybe
• 24:28
  not
• 24:28
  the
• 24:28
  highest,
• 24:28
  maybe
• 24:28
  not
• 24:29
  the
• 24:29
  lowest.
• 24:29
  Maybe
• 24:29
  it's
• 24:29
  somewhere
• 24:29
  in
• 24:29
  the
• 24:29
  middle.
• 24:30
  But
• 24:30
  like,
• 24:30
  I've
• 24:30
  had
• 24:31
  extremely
• 24:31
  bad.
• 24:32
  I
• 24:32
  mean,
• 24:32
  like,
• 24:32
  eventually
• 24:33
  I
• 24:33
  get
• 24:33
  the
• 24:33
  job
• 24:33
  done
• 24:33
  one
• 24:34
  way
• 24:34
  or
• 24:34
  another,
• 24:34
  but
• 24:34
  it's
• 24:35
  been
• 24:35
  extremely
• 24:36
  painful
• 24:37
  working
• 24:37
  with
• 24:37
  these
• 24:37
  guys
• 24:37
  because
• 24:38
  I,
• 24:38
  you
• 24:38
  know,
• 24:38
  because
• 24:38
  I'm
• 24:38
  doing
• 24:39
  so
• 24:39
  few
• 24:39
  residential
• 24:40
  rehab
• 24:40
  projects
• 24:41
  that
• 24:41
  I
• 24:41
  don't
• 24:41
  have
• 24:41
  a
• 24:41
  good
• 24:41
  crew
• 24:42
  of
• 24:42
  people
• 24:42
  that
• 24:42
  I
• 24:42
  can
• 24:42
  work
• 24:43
  with.
• 24:43
  So
• 24:43
  I
• 24:43
  don't
• 24:43
  know
• 24:43
  if
• 24:43
  that
• 24:44
  answers
• 24:44
  your
• 24:44
  question
• 24:44
  or
• 24:44
  not,
• 24:45
  but
• 24:45
  that's
• 24:45
  my.
• 24:45
  Take,
• 24:46
  you
• 24:46
  know,
• 24:46
  it
• 24:46
  definitely
• 24:46
  does
• 24:47
  and
• 24:47
  I
• 24:47
  can
• 24:47
  actually
• 24:47
  relate
• 24:48
  to
• 24:48
  that.
• 24:48
  So
• 24:48
  I,
• 24:48
  I
• 24:49
  don't
• 24:49
  have
• 24:49
  a
• 24:49
  ton
• 24:49
  of
• 24:49
  residential
• 24:50
  real
• 24:50
  estate
• 24:50
  experience,
• 24:51
  but
• 24:51
  from
• 24:51
  a
• 24:51
  lot
• 24:51
  of
• 24:51
  my
• 24:52
  friends
• 24:52
  that
• 24:52
  do,
• 24:52
  and
• 24:52
  they,
• 24:52
  even
• 24:53
  the
• 24:53
  ones
• 24:53
  that
• 24:53
  do
• 24:53
  flips
• 24:53
  and
• 24:54
  burrs
• 24:54
  regularly,
• 24:55
  they
• 24:55
  routinely
• 24:55
  complain
• 24:56
  about
• 24:56
  finding
• 24:56
  how
• 24:57
  difficult
• 24:57
  it
• 24:57
  is
• 24:57
  to
• 24:57
  find
• 24:57
  contractors.
• 24:58
  And
• 24:58
  thankfully
• 24:59
  on
• 24:59
  the
• 24:59
  commercial
• 24:59
  side,
• 24:59
  it's
• 25:00
  not
• 25:00
  nearly
• 25:00
  as
• 25:00
  bad.
• 25:01
  So
• 25:01
  I'm,
• 25:01
  I'm
• 25:01
  glad
• 25:02
  for
• 25:02
  that.
• 25:02
  I
• 25:02
  mean,
• 25:02
  you
• 25:02
  pay
• 25:03
  for
• 25:03
  it,
• 25:03
  right?
• 25:03
  But
• 25:03
  you
• 25:03
  can
• 25:04
  afford.
• 25:04
  There's
• 25:04
  more
• 25:04
  margin
• 25:05
  in
• 25:05
  a
• 25:05
  commercial
• 25:05
  deal
• 25:05
  if
• 25:05
  you're
• 25:06
  just,
• 25:06
  you're
• 25:06
  doing
• 25:06
  it
• 25:06
  at
• 25:06
  such
• 25:06
  a
• 25:07
  bigger
• 25:07
  scale.
• 25:07
  You
• 25:07
  can't
• 25:08
  really,
• 25:08
  you
• 25:08
  know,
• 25:08
  if
• 25:08
  you're
• 25:09
  doing
• 25:09
  a,
• 25:09
  call
• 25:09
  it
• 25:09
  a
• 25:09
  5,
• 25:10
  $400,000
• 25:11
  house
• 25:11
  with
• 25:11
  a
• 25:11
  $30,000
• 25:12
  remodel,
• 25:13
  like,
• 25:13
  you
• 25:13
  just
• 25:13
  can't
• 25:14
  afford
• 25:14
  to
• 25:14
  get
• 25:14
  like
• 25:15
  this
• 25:15
  really
• 25:15
  top
• 25:15
  of
• 25:15
  the
• 25:15
  line
• 25:16
  commercial
• 25:16
  crews.
• 25:16
  The
• 25:17
  margin
• 25:17
  is
• 25:17
  just
• 25:17
  not
• 25:17
  there.
• 25:18
  Yep.
• 25:18
  Well,
• 25:19
  let
• 25:19
  me
• 25:19
  ask
• 25:19
  you
• 25:19
  a
• 25:19
  question
• 25:19
  to
• 25:20
  get
• 25:20
  ready
• 25:20
  to
• 25:20
  wrap
• 25:20
  up
• 25:20
  with.
• 25:21
  And
• 25:21
  so
• 25:21
  for
• 25:21
  anybody
• 25:22
  who's
• 25:22
  brand
• 25:22
  new
• 25:22
  that's
• 25:23
  listening
• 25:23
  today,
• 25:24
  what's
• 25:24
  the
• 25:24
  single
• 25:24
  biggest
• 25:25
  recommendation
• 25:25
  you
• 25:25
  would
• 25:26
  make
• 25:26
  for
• 25:26
  them
• 25:26
  if
• 25:26
  they
• 25:26
  want
• 25:26
  to
• 25:27
  start
• 25:27
  getting
• 25:27
  active
• 25:28
  in
• 25:28
  real
• 25:28
  estate?
• 25:28
  Well,
• 25:29
  you
• 25:29
  know,
• 25:29
  I
• 25:29
  think
• 25:30
  like
• 25:30
  getting
• 25:30
  involved
• 25:30
  as
• 25:31
  an
• 25:31
  LP
• 25:31
  is
• 25:31
  a
• 25:31
  great
• 25:32
  way
• 25:32
  to
• 25:32
  do
• 25:32
  it.
• 25:32
  Like,
• 25:32
  my
• 25:33
  first
• 25:33
  stint
• 25:33
  at
• 25:33
  commercial
• 25:34
  real
• 25:34
  estate
• 25:34
  was
• 25:35
  as
• 25:35
  an
• 25:35
  lp.
• 25:35
  It
• 25:36
  was
• 25:36
  before
• 25:36
  I
• 25:36
  started
• 25:36
  working
• 25:36
  with
• 25:36
  my
• 25:37
  partner.
• 25:37
  You
• 25:37
  know,
• 25:37
  I
• 25:37
  invested
• 25:38
  in
• 25:38
  the
• 25:38
  deal.
• 25:38
  Honestly,
• 25:38
  I
• 25:39
  had
• 25:39
  no
• 25:39
  idea.
• 25:40
  Like,
• 25:40
  I
• 25:40
  didn't
• 25:40
  even
• 25:40
  know.
• 25:40
  I
• 25:41
  didn't
• 25:41
  know
• 25:41
  what
• 25:41
  the
• 25:41
  equity
• 25:41
  slits
• 25:42
  were.
• 25:42
  Like,
• 25:42
  I
• 25:42
  didn't
• 25:42
  know
• 25:42
  him,
• 25:42
  percentage
• 25:43
  he
• 25:43
  was
• 25:43
  taking
• 25:43
  or
• 25:43
  I
• 25:43
  was
• 25:43
  taking.
• 25:44
  I
• 25:44
  just,
• 25:44
  I
• 25:44
  looked
• 25:44
  at
• 25:45
  the
• 25:45
  ROI
• 25:45
  and
• 25:45
  it
• 25:45
  was
• 25:45
  old
• 25:46
  roommate
• 25:46
  of
• 25:46
  mine,
• 25:46
  so
• 25:46
  I
• 25:46
  trusted
• 25:46
  him
• 25:47
  and
• 25:47
  I
• 25:47
  just
• 25:47
  did
• 25:47
  it.
• 25:48
  So
• 25:48
  I
• 25:48
  mean
• 25:48
  that.
• 25:49
  I
• 25:49
  think
• 25:49
  that's
• 25:49
  my
• 25:49
  top
• 25:50
  recommendation.
• 25:50
  I
• 25:50
  think
• 25:50
  the
• 25:51
  other
• 25:51
  way
• 25:51
  to
• 25:51
  do
• 25:52
  it
• 25:52
  would
• 25:52
  be.
• 25:53
  Well,
• 25:53
  there's
• 25:53
  several
• 25:53
  different
• 25:53
  ways.
• 25:54
  I
• 25:54
  mean,
• 25:54
  you
• 25:54
  could
• 25:54
  be
• 25:54
  a
• 25:54
  broker
• 25:54
  if
• 25:55
  you
• 25:55
  wanted
• 25:55
  to.
• 25:55
  Like,
• 25:55
  then
• 25:55
  you
• 25:56
  can
• 25:56
  go
• 25:56
  out
• 25:56
  and
• 25:56
  start
• 25:56
  sourcing
• 25:56
  deals.
• 25:57
  But
• 25:57
  again,
• 25:57
  like,
• 25:57
  that's
• 25:57
  gonna
• 25:58
  take
• 25:58
  a
• 25:58
  really
• 25:58
  long
• 25:58
  time
• 25:58
  to
• 25:58
  build
• 25:58
  up
• 25:59
  the
• 25:59
  relationship.
• 25:59
  And
• 26:00
  I
• 26:00
  think
• 26:00
  maybe
• 26:00
  another
• 26:00
  way,
• 26:00
  a
• 26:01
  third
• 26:01
  way
• 26:01
  would
• 26:01
  just
• 26:01
  be
• 26:02
  being
• 26:02
  a,
• 26:03
  Almost
• 26:03
  like
• 26:03
  an
• 26:03
  apprentice
• 26:04
  or
• 26:05
  like
• 26:05
  a.
• 26:05
  I'm
• 26:05
  blanking
• 26:06
  on
• 26:06
  the
• 26:06
  word
• 26:06
  right
• 26:06
  now
• 26:07
  whatever
• 26:07
  you
• 26:07
  do
• 26:07
  when
• 26:07
  you're
• 26:07
  in
• 26:08
  school
• 26:08
  and
• 26:08
  you
• 26:08
  go
• 26:08
  intern,
• 26:09
  sorry.
• 26:09
  Yeah,
• 26:10
  being
• 26:10
  like
• 26:10
  an
• 26:10
  intern
• 26:10
  with
• 26:10
  somebody,
• 26:11
  you
• 26:11
  know,
• 26:11
  like
• 26:11
  getting
• 26:11
  almost
• 26:12
  like
• 26:12
  a
• 26:12
  low
• 26:12
  level
• 26:12
  job
• 26:12
  or
• 26:12
  an
• 26:13
  internship
• 26:13
  with
• 26:13
  somebody
• 26:13
  that
• 26:13
  you
• 26:13
  respect,
• 26:14
  it's
• 26:14
  like,
• 26:14
  hey,
• 26:14
  how
• 26:14
  can
• 26:14
  I
• 26:14
  provide
• 26:15
  value
• 26:15
  to
• 26:15
  you?
• 26:15
  Like,
• 26:16
  the
• 26:16
  thing
• 26:16
  is,
• 26:17
  a
• 26:17
  guy
• 26:17
  who's
• 26:17
  doing
• 26:17
  a
• 26:18
  hundred
• 26:18
  million
• 26:18
  dollar
• 26:18
  deals
• 26:19
  or
• 26:19
  more,
• 26:20
  they're,
• 26:20
  they
• 26:20
  probably
• 26:21
  really
• 26:21
  have
• 26:21
  a
• 26:21
  value
• 26:22
  of
• 26:22
  having
• 26:22
  you
• 26:22
  as
• 26:22
  an
• 26:22
  intern
• 26:23
  because
• 26:23
  like
• 26:23
  you're
• 26:23
  going
• 26:23
  to
• 26:24
  be,
• 26:24
  they're
• 26:24
  going
• 26:24
  to
• 26:24
  be
• 26:24
  spending
• 26:24
  more
• 26:24
  time
• 26:25
  explaining
• 26:25
  things
• 26:25
  to
• 26:25
  you
• 26:25
  than
• 26:26
  the
• 26:26
  value
• 26:26
  that
• 26:26
  you
• 26:26
  bring
• 26:26
  as
• 26:27
  like,
• 26:27
  you
• 26:27
  know,
• 26:27
  a
• 26:27
  coffee
• 26:28
  deliverer.
• 26:29
  But
• 26:29
  like
• 26:29
  somebody
• 26:29
  who's
• 26:30
  kind
• 26:30
  of
• 26:31
  needing
• 26:31
  help,
• 26:31
  you
• 26:31
  know,
• 26:32
  they're
• 26:32
  looking
• 26:32
  to
• 26:32
  grow,
• 26:32
  they've
• 26:33
  done
• 26:33
  more
• 26:33
  than
• 26:33
  you,
• 26:33
  they're
• 26:33
  at
• 26:34
  least
• 26:34
  ahead
• 26:34
  of
• 26:34
  you.
• 26:34
  I
• 26:34
  think
• 26:35
  if
• 26:35
  you
• 26:35
  can
• 26:35
  be
• 26:35
  like
• 26:35
  an
• 26:35
  intern
• 26:35
  or
• 26:36
  just
• 26:36
  say
• 26:36
  you
• 26:36
  want
• 26:36
  to
• 26:36
  learn,
• 26:37
  like
• 26:37
  come
• 26:37
  on
• 26:37
  board,
• 26:37
  like,
• 26:38
  you
• 26:38
  know,
• 26:38
  help
• 26:38
  them
• 26:38
  whatever
• 26:38
  you
• 26:38
  can,
• 26:39
  I
• 26:39
  think
• 26:39
  that's
• 26:39
  a
• 26:39
  great
• 26:39
  way
• 26:40
  to
• 26:40
  really
• 26:40
  get
• 26:40
  your
• 26:41
  feet
• 26:41
  wet
• 26:41
  and
• 26:42
  learn
• 26:42
  some
• 26:42
  of
• 26:42
  the
• 26:42
  ropes
• 26:43
  in
• 26:43
  commercial
• 26:43
  real
• 26:43
  estate.
• 26:44
  Excellent.
• 26:44
  And
• 26:44
  for
• 26:44
  everybody
• 26:45
  listening
• 26:45
  today
• 26:45
  who
• 26:46
  wants
• 26:46
  to
• 26:46
  connect
• 26:46
  with
• 26:46
  you,
• 26:47
  what's
• 26:47
  the
• 26:47
  best
• 26:47
  way
• 26:47
  for
• 26:48
  them
• 26:48
  to
• 26:48
  get
• 26:48
  in
• 26:48
  touch
• 26:48
  with
• 26:48
  you?
• 26:49
  Yeah,
• 26:49
  I'm
• 26:49
  pretty
• 26:49
  active
• 26:49
  on
• 26:49
  LinkedIn.
• 26:50
  It's
• 26:50
  just
• 26:50
  Austin,
• 26:51
  like
• 26:51
  the
• 26:51
  city
• 26:51
  hair,
• 26:51
  like
• 26:51
  on
• 26:52
  your
• 26:52
  head.
• 26:52
  So
• 26:52
  reach
• 26:53
  out,
• 26:53
  you
• 26:53
  know,
• 26:53
  shoot
• 26:54
  me
• 26:54
  a
• 26:54
  message
• 26:54
  and
• 26:54
  we'd
• 26:55
  love
• 26:55
  to
• 26:55
  connect.
• 26:55
  Excellent,
• 26:56
  Austin.
• 26:56
  Thanks
• 26:56
  so
• 26:56
  much
• 26:56
  for
• 26:57
  sharing
• 26:57
  your
• 26:57
  time
• 26:57
  and
• 26:57
  your
• 26:57
  wisdom
• 26:58
  with
• 26:58
  the
• 26:58
  listeners
• 26:58
  and
• 26:58
  we
• 26:59
  appreciate
• 26:59
  you
• 26:59
  being
• 27:00
  on
• 27:00
  today.
• 27:00
  Thanks.