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Investing In Senior Living For $10 A Share w/ David Bacon · Real Estate Investing with RealDealCrew

• 0:00
  You can't buy your way out of biology.
• 0:02
  10,000 baby boomers turn 65 every single day.
• 0:07
  And senior living centers are sitting at 90% occupancy while nearly half
• 0:14
  the existing inventory functionally is obsolete.
• 0:18
  In this episode, you'll learn how to invest in the gap for as little
• 0:22
  as $10,000 a share. how a housing bonds product is targeting nine
• 0:28
  to ten percent yield by funding the land work builders can't get banks to touch,
• 0:33
  and why none of it requires accredited investor status.
• 0:38
  David Bacon from Worthy Investor breaks down the whole model.
• 0:42
  if you want to build systems for your own investing business,
• 0:45
  check out realdeal crew dot com.
• 0:48
  Let's get started.
• 0:53
  David Bacon joins me here today.
• 0:55
  You can learn what his team can help you with by going to worthywealth dot com.
• 1:00
  And that's gonna be a clickable link in the show notes,
• 1:03
  but I really appreciate your time here today,
• 1:05
  David.
• 1:06
  Absolutely, Jack. Thanks for having me.
• 1:07
  So worthy wealth, I gotta ask first,
• 1:10
  where did the name come from?
• 1:11
  Well our our CEO and our CO are kind of visionaries and they believe that investing
• 1:17
  ought to be accessible to everyone,
• 1:19
  not just the ultra wealthy. So we kinda built or they kinda built
• 1:23
  the company around you're worthy.
• 1:25
  Everyone is worthy. And that was that was the impetus of of starting Worthy Wealth.
• 1:32
  Well, you have kind of an interesting model associated with
• 1:36
  the this investment portfolio.
• 1:38
  Can you talk a little bit about that and what led the business to find this niche?
• 1:42
  Sure.
• 1:43
  Moving off or progressing from the the the reason that the company was started,
• 1:49
  we identified several opportunities that traditional markets were not addressing.
• 1:55
  So we looked at specific verticals,
• 1:59
  senior living, residential housing,
• 2:01
  and we built a pair of products that address some fairly
• 2:07
  interesting bottlenecks, ones that kind of fall outside of the well,
• 2:11
  if there's plenty of demand, how come there's not plenty of supply?
• 2:14
  And we reached in to fill that through alternative investments,
• 2:19
  through the ability to raise capital and make investments very nimbly
• 2:24
  and with the added benefit of
• 2:28
  the investment itself makes an impact,
• 2:30
  meaning that beyond the return,
• 2:31
  we are helping a community, we're helping an American senior citizen,
• 2:35
  something like that.
• 2:37
  Yeah, we're gonna dive into this a little bit because y part of your investment
• 2:41
  is is around senior living. can you talk a
• 2:45
  Yes.
• 2:45
  little bit about that, how that is an emerging real estate opportunity
• 2:49
  and there is kind of a supply and demand or we're going to f be on on it here very,
• 2:55
  very soon if we we haven't already.
• 2:57
  Yeah, we are already there. you know,
• 3:00
  just looking at the market, you know,
• 3:02
  just that the supply demand fulcrum there,
• 3:04
  ten thousand baby boomers turn 65 every single day.
• 3:10
  And the occupancy for senior living centers sits at about 90 percent,
• 3:16
  and that's after 19 straight quarters of growth.
• 3:21
  So and it's immovable. You can't buy your way out of biology.
• 3:24
  It's it's happening, it's going to be increasing.
• 3:26
  there's gonna be twenty-six and a half million people over the age of eighty
• 3:30
  in the United States in the next twelve years.
• 3:31
  And that's a pretty significant chunk of the U American population.
• 3:36
  But on the other side of that,
• 3:38
  you're looking at ninety percent occupancy,
• 3:41
  as I mentioned,
• 3:42
  And 60, 40 to 60 percent of what inventory is available is functionally obsolete.
• 3:48
  Think, you know, if you've ever been to a nursing home in the in the
• 3:52
  90s or the early 2000s, it's a very clinical,
• 3:55
  very depressing type of layout,
• 3:57
  and that's absolutely not what today's seniors look for.
• 4:00
  So naturally you'd be going, well,
• 4:03
  we have great demand, we have a limited supply,
• 4:05
  why aren't we, why aren't these senior centers just popping up everywhere?
• 4:09
  And it has to do with the capital stack.
• 4:11
  and this is a a broader problem that is not just senior living,
• 4:15
  it's it's almost all real estate.
• 4:17
  And that's the cost, the higher cost to break ground.
• 4:20
  So banks have no problem with vertical financing.
• 4:23
  If there's a roof on it, they'll finance it.
• 4:25
  What they have a problem with is the dirt work,
• 4:28
  the water, sewage, power,
• 4:31
  and they're charging builders fifty to a hundred percent more.
• 4:37
  just to do that type of work. So we look at this particular model
• 4:42
  as an opportunity to break the bottleneck.
• 4:44
  And the way that we do that is we pool investor money and
• 4:50
  we go in and find these 40 to 60 percent underperforming senior living centers
• 4:56
  in markets that are already saturated.
• 4:59
  And
• 4:59
  Buy them at a pretty steep discount,
• 5:01
  modernize them, partner with experts that can run them,
• 5:05
  and then we sell them back to,
• 5:07
  whether we sell them in after a couple of years,
• 5:09
  a couple, three years at let me back up on that one.
• 5:12
  so we go into the, we find these 40 to 60% underperforming senior living centers.
• 5:17
  We purchase them at a steep discount,
• 5:20
  we modernize them up to 2026 standards.
• 5:23
  We partner with experts that can run them and then we sell them.
• 5:26
  And then we're able to target a fifteen percent annualized return
• 5:30
  to our investors for something like that.
• 5:32
  Hm. Yeah, I you know, this is kinda hitting close to home because there's
• 5:38
  you you we talk about that the senior living space,
• 5:41
  you know, is ninety percent occupied,
• 5:43
  but you can actually see those locally,
• 5:46
  you know, with
• 5:47
  the the the good ones that are being operated well,
• 5:50
  they're the ones that are full.
• 5:52
  And it's the ones that maybe in rural communities and a few other things that
• 5:56
  haven't adopted some modernization and a few other things that frankly struggle
• 6:01
  and they're they actually are kind of like almost treated as last resort,
• 6:06
  if you will.
• 6:07
  It's very depressing. And you know,
• 6:10
  as I mentioned in the introduction,
• 6:11
  we were talking about having an impact beyond just the the return.
• 6:17
  And senior citizens that need that care don't want to be there.
• 6:21
  if they're forced to live or to forced to have some type of of senior care,
• 6:26
  those functionally obsolete facilities are depressing.
• 6:31
  they they struggle with a a very nineties clinical mentality.
• 6:35
  And today's senior living facilities are really more like apartment communities.
• 6:40
  one bedroom, studio apartments,
• 6:43
  own bathrooms, whereas the the ones that we're purchasing and modernizing,
• 6:47
  they've got common bathrooms, they've got a kitchen that's on the other side
• 6:52
  of the the property. you know,
• 6:53
  just not a not a conducive place and certainly not a place that you want to
• 6:59
  put your parents or your grandparents if they need it.
• 7:01
  You want to continue to give seniors the dignity they deserve.
• 7:05
  And that's what we're looking at.
• 7:06
  So we're creating, we can't attack the supply in this case the same way that
• 7:12
  we can attack the taking existing supply and making it more marketable.
• 7:17
  You you've said that these are underperforming assets.
• 7:19
  Can you talk a little bit about what you mean by that?
• 7:22
  How are they underperforming? And what are you doing if you wouldn't mind sharing
• 7:27
  some of the strategies turning these places around?
• 7:30
  Sure. so if you like I mentioned,
• 7:32
  if you go back to a a more clinical model of a nursing home back,
• 7:37
  you know, twenty, thirty years ago,
• 7:38
  you had a nurses station with two or long hallways.
• 7:42
  You had really almost like hospital rooms up and down the hallway.
• 7:46
  I mentioned that the the kitchen was on one side of the building.
• 7:50
  It's you know it's so far over that by the time the food got to
• 7:54
  you know, the tenth or the twelfth room it was already cold.
• 7:56
  what you did for recreation was was typically
• 8:00
  you know, they they didn't build it for that type of community.
• 8:02
  They didn't they built it for more medical focus.
• 8:05
  They did not build it as a community.
• 8:07
  What we do is we build it that way.
• 8:09
  Today's seniors, they they want personalized wellness programs.
• 8:14
  They want to live in an area where they can meet other people their age.
• 8:18
  they want the basic dignity of living in a place that is not
• 8:22
  a medical repository for people.
• 8:24
  And I I know that's probably not the greatest term,
• 8:26
  but
• 8:28
  There's so many things that are going on now.
• 8:30
  access to gyms, common rooms,
• 8:34
  cafeterias and snack places throughout the building.
• 8:37
  even security for seniors with Alzheimer's and dementia.
• 8:41
  we need to make sure that there's access for them.
• 8:43
  so these are the types of things that we build in that may not have been there
• 8:48
  twenty or thirty years ago.
• 8:50
  that make a family considering putting their parent or grandparent
• 8:54
  in something like this feel like this is a a community as opposed to just
• 8:58
  a a another version of a hospital.
• 9:01
  Right. Yeah, I I would imagine that's that's it's not an easy thing to convert.
• 9:08
  I mean like you said, I've I've been to kind of both spectrums here.
• 9:13
  I've I've been in some where it's like senior living centers where where it's more
• 9:17
  of apartment feel. It's more of a community,
• 9:20
  they there there's a there's independence and then you have that that
• 9:26
  other swing and it seems like to be a big swing where it's just like it's
• 9:30
  a hospital and we're just kinda wait all everybody's waiting for the inevitable.
• 9:33
  Yeah.
• 9:34
  Yeah, I I totally agree. And that then that's what I said.
• 9:36
  That the dignity of American seniors at this point is is a part of
• 9:41
  the vision that that we put together,
• 9:42
  not just the return, but the vision.
• 9:46
  Yeah. And I I would imagine that has something to do with the generations too.
• 9:51
  Like baby boomers, Gen Xers,
• 9:52
  It has.
• 9:53
  you know, there's this level of independence that was w in those generations that
• 10:00
  they frankly don't want to give up.
• 10:01
  absolutely. And and and the the the obvious question is would you,
• 10:05
  you know, when it when it's
• 10:06
  No.
• 10:06
  your time, when you're when you're that age,
• 10:08
  is this a place you want to be?
• 10:10
  but there's some other downstream effects of this too that have to come into play
• 10:15
  and it has to do with the families of those seniors that are are are of that age.
• 10:20
  the way that the market is working right now is that government programs will
• 10:25
  not pay for
• 10:27
  For room and board, you know, there's certain let me let me pause here,
• 10:30
  Jack, and back up. So there's other market dynamics at work.
• 10:33
  The federal government is not a solution here.
• 10:35
  And the fact that there's such a high cost to break ground on some
• 10:40
  of these places means that the builders are trying to build a high margin
• 10:43
  or higher margin facilities so they can recoup some of their costs.
• 10:47
  So you're kind of creating a haves and a have-nots capability
• 10:50
  or something like this.
• 10:53
  So what's the alternative for families with elderly parents or grandparents?
• 10:57
  They either have to find someone within their family to quit their job
• 11:01
  and take care of somebody, which that in itself reduces income potential
• 11:05
  and it creates a downstream issue moving forward.
• 11:07
  You certainly don't want to have to do something like that,
• 11:09
  but if the only alternative
• 11:12
  To paying very, very and climbing prices to get your loved one in a senior center.
• 11:16
  If that's it, then this may be the only alternative that you have.
• 11:20
  So you know, you can unpack this onion or unpeel this onion in
• 11:24
  a hundred different ways, and it it doesn't it doesn't come out as a
• 11:29
  fun story to tell. We are telling the story of how we're solving that.
• 11:36
  Right. Yeah. I would imagine some of these places too are the are do
• 11:41
  you still run into a lot of mom and pop managed type solutions or you know,
• 11:47
  when we say that you're turning these places around and modernizing it,
• 11:50
  I would imagine it's not just the the environment and and being a a little
• 11:56
  bit more independent living, but it's it's likely
• 11:59
  Mm-hmm.
• 12:00
  the systems and processes that are being leveraged.
• 12:02
  yeah, absolutely, across the board as to whether or not you know the
• 12:06
  mom and pops are out there, we're typically focusing on markets that
• 12:09
  are that are are looking at increased demand,
• 12:11
  you know, w pretty pretty big pretty big markets out there.
• 12:15
  But that doesn't mean the portfolio won't include smaller facilities,
• 12:19
  things like that.
• 12:21
  Sure. So just to remind everybody,
• 12:23
  we're talking to David Bacon. You can learn more about what his team does
• 12:27
  by heading over to worthywealth.com.
• 12:29
  That's going to be a clickable link in the show notes.
• 12:32
  If you found some value in what we're chatting about so far,
• 12:35
  do us a favor, share this with one of your friends.
• 12:37
  If you're watching us on YouTube,
• 12:39
  give us a like and subscribe. So,
• 12:42
  David, talk a little bit about how people get involved in this and and how maybe
• 12:47
  I I think there's a lot of people right now who I I have a lot of people
• 12:51
  who are very active in real estate investing and they think that
• 12:55
  man that sounds like a lot of work.
• 12:56
  I'd rather do this a little bit more passively.
• 12:59
  how do people get involved with you and and how does that look?
• 13:03
  Mm.
• 13:03
  Yeah, a great question. And and it's certainly a change from the
• 13:07
  way that real estate investing has been historically.
• 13:10
  our platform is entirely digital.
• 13:12
  going back to the vision of the company,
• 13:14
  we wanted to make investment accessible to everybody.
• 13:17
  senior living shares are ten dollars apiece.
• 13:19
  you buy them right through the right through our app.
• 13:22
  or the website, there's a hundred dollar minimum purchase,
• 13:24
  but after that every share is ten dollars.
• 13:26
  Buy as much or as little as you'd like because the financial real reality
• 13:31
  of the most of us in the United States does not match an accredited investor.
• 13:35
  So whatever works for you. But it it's fairly straightforward,
• 13:39
  usually takes about five, seven minutes.
• 13:41
  Yeah,
• 13:42
  so that's that's a big difference too.
• 13:44
  So you're talking about having access to this is almost available to anybody
• 13:49
  as long as you got a hundred bucks.
• 13:50
  But so you're not one of those groups that's only trying
• 13:55
  to attract accredited investors,
• 13:57
  and then you are
• 13:58
  Yep.
• 13:59
  on the digital forefront with the accessibility through an app.
• 14:03
  I mean, that almost sounds like a version of Robinhood or or some
• 14:07
  of those other investment platforms.
• 14:10
  Yeah, very similar. Similar. we have positioned ourselves as
• 14:14
  a very accessible investment, alternative investment.
• 14:17
  And we make a pretty good case as to you know,
• 14:19
  we we put our money where our mouth is in that respect.
• 14:21
  In fact, we don't even charge fees for this.
• 14:24
  So you you come in if you want to to purchase there's nothing that we're taking out.
• 14:28
  A hundred percent of your investment goes towards the investment itself.
• 14:32
  So what type of transparency and insight do people have in these then?
• 14:36
  Like they when they when they submit their hundred dollars or or more,
• 14:41
  huh.
• 14:41
  like y what type of detail would could they expect in that app?
• 14:45
  It's it's actually pretty straightforward.
• 14:47
  when you go into the app you'll see your current investment amount.
• 14:50
  because some of you know for senior living we have to purchase the property,
• 14:54
  we have to build it out, we have to sell it.
• 14:56
  all of our investors in that fund get quarterly dividend payments
• 14:59
  of between five and seven percent,
• 15:01
  depending on how long we're into it.
• 15:02
  you can see all of that accruing within the app.
• 15:05
  You can purchase, you can manage all of that.
• 15:09
  straight from the app and then because you're connected to a funding source
• 15:12
  you can either redeem your funds when they come through directly or
• 15:15
  you can add additional purchases right through the app.
• 15:19
  Are there any particular markets that you guys then target or are you just
• 15:22
  o across the whole country?
• 15:24
  I'm sorry, Jack, would you I coughed in the middle of that.
• 15:26
  Would you repeat that question,
• 15:27
  please?
• 15:28
  Sure. Are you focused in any particular markets or are you across the US?
• 15:32
  Across the US. Yeah, we we sell everywhere in the US.
• 15:35
  For that product. There's
• 15:35
  So you you
• 15:37
  a limitation in Texas for one of our other products,
• 15:39
  but that's it.
• 15:41
  So y you're kind of playing in a market.
• 15:42
  I'm seeing more and more institutional investing coming in to these these type
• 15:47
  of things as well. Is that who you end up eventually selling to?
• 15:51
  selling the investment to or from a customer perspective?
• 15:55
  No, the when you you it sounded like you were you're buying these underperforming
• 16:00
  senior living centers and then flipping them,
• 16:03
  selling them when they do
• 16:04
  Yes.
• 16:05
  rebound. Is that who ends up buying them typically is is a
• 16:09
  a larger institutional investor?
• 16:12
  Absolutely. Yeah. So we will we will purchase we will purchase
• 16:17
  the senior living facilities I mentioned at a pretty good discount,
• 16:20
  because they're functionally obsolete.
• 16:22
  We put the capital into it, then we end up selling it to a another group that will
• 16:26
  run it. but we we put the staff in,
• 16:29
  we work with the experts to help out there.
• 16:31
  so we don't try to get into the running of that particular one.
• 16:35
  That's not
• 16:35
  what our our specialty is. but then we turn around and and flip it after,
• 16:39
  you know, two to four years.
• 16:40
  You have to have spent a considerable amount of time and effort then with your
• 16:46
  standard operating procedures and processes and techniques to be able
• 16:51
  to to do this to that level.
• 16:54
  It's yes. everything that we're doing is is SEC qualified.
• 16:59
  So we do have oversight from the SEC on this.
• 17:03
  the actual platform we had built years ago and we've simply optimized
• 17:08
  it for this particular product as well as the other ones that we offer.
• 17:12
  But we've gotten to the point where it's it's pretty second nature
• 17:15
  to add new investment products in based on the investments we made
• 17:19
  in our own platform.
• 17:20
  Are there any projects that are on the horizon that have you and your team excited?
• 17:24
  there's always new projects out there.
• 17:26
  some of them I, you know, I I'm actually kind of excited about one or
• 17:29
  two that we've got coming up, but since we are still in the qualification process,
• 17:33
  I can't mention them. the other product that we have is for residential real estate
• 17:38
  developers, that's Worthy Wealth Housing Bonds.
• 17:41
  similar you know, similar demand supply where the bottleneck is type of structure.
• 17:46
  In this case we're looking at
• 17:48
  a deficit of six and a half million starter homes in the United States
• 17:51
  and it's the exact same bottleneck funding the the horizontal work funding
• 17:57
  the dirt is keeping people from or keeping builders from purchase from from building
• 18:02
  starter homes and what we're starting to see is very very high margin structures
• 18:06
  that are going up to cover that so we're coming in
• 18:10
  and pooling or becoming the creditor for the the dirt work,
• 18:15
  we're getting the high yield, first in high yields,
• 18:18
  and then we're able to offer housing bonds at nine to ten percent.
• 18:22
  you know also ten dollars, no fees,
• 18:24
  that kind of thing. So we our investor base is really the private creditor
• 18:30
  in this respect. So we're letting them instead of going to the bank and doing it,
• 18:35
  We're getting a bunch of investors together,
• 18:37
  they act as the the private creditor and we share the profits with them.
• 18:41
  Sure. So th how did do you have you establish relationships with some
• 18:46
  of these builders or d how did people like actually trying to take advantage
• 18:52
  of that program? How would they could they get possibly get involved?
• 18:56
  If they yeah, if they're looking to to get lending from worthy wealth,
• 19:00
  absolutely. Yeah, there's ~ there's a separate
• 19:01
  Yeah. So what did they do? S submit the project
• 19:04
  and and get the get the funding?
• 19:06
  Yes. That's actually on the lending side and I'm happy to provide a link
• 19:10
  for that that you can put at the bottom of this if you'd like.
• 19:13
  more than happy to to arrange that.
• 19:16
  Sure. So the but in the end that still sounds pretty approachable.
• 19:23
  I mean you're you're essentially like it it definitely makes sense.
• 19:26
  Like you've mentioned, you're covering some pretty big ground there between
• 19:30
  the there there's a how we we keep hearing it all the time.
• 19:35
  There's a housing crisis on one end and a senior living crisis on the other.
• 19:41
  Yeah, and and again, when you look at the dynamics of these two particular markets,
• 19:46
  it's it kind of flies in the face of of what you would normally look at
• 19:50
  if you have such strong demand in in both of those products,
• 19:53
  and yet you you have suppliers that are willing to do something about it,
• 20:00
  but can't because the cost of capital is too high.
• 20:03
  then that's where the opportunity is.
• 20:05
  That's where the power of alternative investments are.
• 20:08
  So we're coming in and tackling the bottleneck so that
• 20:14
  you can get facilities built, so that you can get residential real estate structures
• 20:18
  built. And then ultimately help out communities,
• 20:21
  help community growth or help American seniors find affordable senior housing.
• 20:25
  You're finding these underperforming assets today.
• 20:29
  D have you ever considered or do you look into converting any any building
• 20:34
  to these type of facilities?
• 20:37
  Well, we kind of look at underperforming as conversion opportunities.
• 20:41
  So there's I I don't see as much I don't see the difference between them
• 20:46
  so help me dis describe the difference that you're seeing and I'll
• 20:50
  well I sometimes I see like old hotels or something that could be u utilized
• 20:55
  Yes. I see what you're saying.
• 20:56
  for a different s different thing.
• 20:57
  Yes,
• 20:58
  that's actually something that well we work with partners on this and they have done
• 21:02
  that in the past. So the model does not preclude us from looking
• 21:06
  at structures that can be easily converted into something like this.
• 21:09
  there is a medical construction component of this that
• 21:15
  we look for. So converting a hotel,
• 21:17
  for example, would need a lot of retrofit for plumbing and sanitary reasons,
• 21:22
  so on and so forth, that chances are a nursing home today that's underperforming
• 21:26
  still already has.
• 21:28
  Mm. Yeah. I kinda had this crazy idea at one point because we
• 21:34
  had this local mall that close that shuttered and nobody knew what to
• 21:38
  do with this building, but I just kept envisioning that being an in turning into
• 21:42
  an indoor senior living area. You could you'd have a roof on it
• 21:46
  and and hallways could be like sidewalks and
• 21:51
  It just seemed
• 21:51
  Yeah.
• 21:51
  to be kind of a you know, that's just kind of a wishful thinking in the end,
• 21:55
  but that was just kind of would have been a huge project,
• 21:57
  but it would have been kinda neat.
• 22:00
  Some of the the projects, not necessarily one that that we're pursuing
• 22:03
  at the moment, but I I have seen some unbelievable innovation in the
• 22:09
  in the senior centers. So, you know,
• 22:10
  some of them, for example, have built out areas that are built to look like
• 22:17
  a town square. They have shops,
• 22:19
  they have places to eat. it's a very
• 22:22
  comforting and and and community driven type of experience.
• 22:25
  and you kind of forget that you're there.
• 22:28
  but if you live there and you're going to buy bread or you're gonna go buy
• 22:32
  so or get some fruit to eat or if you're gonna sit down and and and have
• 22:36
  a drink with somebody, however that takes,
• 22:38
  whatever form that takes, there are places there that are very comforting.
• 22:42
  very real world as opposed to the clinical type of history that those facilities
• 22:48
  have.
• 22:48
  Well just to remind everybody one more ch
• 22:49
  But your idea is absolutely
• 22:51
  a it's being done.
• 22:53
  Yeah, I I bet. It is it is kinda interesting.
• 22:57
  You know, you you've I've been to,
• 22:58
  you know, whether you go to Vegas or whatever,
• 23:00
  you have these self contained communities,
• 23:04
  if you will, where you're like
• 23:05
  Yes.
• 23:06
  you said, there's there's shops,
• 23:07
  there's some little restaurants,
• 23:09
  there's grocery stores, everything is like it's all self-contained.
• 23:13
  I could see that really working w out well for this type of community.
• 23:17
  Yeah, I don't know of one that has the the Italian gondola in the middle of it.
• 23:22
  but no, I it's it's interesting you mention that because that's that's somewhat of
• 23:26
  I'm on it. I'm gonna get it done.
• 23:27
  No.
• 23:29
  that is probably not where your investment dollars are gonna go to your listeners.
• 23:32
  But but yes, I I I envision the some of the the resorts in Vegas as
• 23:37
  an an an exaggerated version of of what we're talking about.
• 23:42
  Sure. Well, it is w w worthywealth.com.
• 23:47
  I'm gonna have that as a clickable link in the show notes,
• 23:49
  but we're gonna jump into the rapid fire and start closing out this episode.
• 23:52
  But before we do, David, is there anything else we should have tried to hit on here?
• 23:56
  If I had to leave your listeners with one thing,
• 23:58
  and that is that the nature of investing is evolving very,
• 24:03
  very quickly. And it started with crypto back in the day,
• 24:08
  and you know, and the ability to access investments via your phone versus
• 24:13
  you know in apps and so on and so forth,
• 24:15
  there are a lot of different opportunities out there.
• 24:17
  So
• 24:19
  When we think of investing, we typically think of stocks and bonds.
• 24:22
  But today it's healthier to look at stocks and bonds and alternative investments
• 24:28
  as part of a healthy portfolio as opposed to you know what we grew up with really.
• 24:33
  There's just too many opportunities today that are available
• 24:37
  to retail investors that don't need accreditation.
• 24:41
  that it it's it's certainly worth your while to take a look at
• 24:45
  the options available to you.
• 24:47
  Well, I appreciate that. That's a good sentiment to jump into this.
• 24:50
  And well, David, if you are ready,
• 24:53
  we'll jump into the rapid fire and close out this episode.
• 24:57
  Go ahead.
• 24:58
  What lie do real estate investors often tell themselves?
• 25:01
  the train only goes by twice a day.
• 25:05
  Let me back up on that one. Let me make sure I got the question correct.
• 25:09
  Real estate investors.
• 25:11
  Yeah.
• 25:13
  real estate investors, probably that this is an un up-and-coming area
• 25:19
  and you'll have no trouble flipping this house.
• 25:22
  Yeah, we have a tendency of trying to convince ourselves sometimes,
• 25:25
  don't we?
• 25:26
  Yes.
• 25:26
  If you could go back in time and give your younger self a piece of advice,
• 25:29
  what would it be?
• 25:31
  start investing when I was twenty years old.
• 25:33
  I I could not I I would slap myself into submission un until I agreed to do that.
• 25:40
  The the the the time between the age of twenty and twenty and thirty is
• 25:44
  a golden age for investing because you've got the time to to really
• 25:48
  put that to work.
• 25:49
  Do you have a book recommendation or what are you reading right now?
• 25:53
  I am reading a really interesting book called Then Everything Changed.
• 25:57
  And it's about moments in time where a decision one way or
• 26:02
  the other have hypothetically really,
• 26:06
  really deep impacts downstream.
• 26:08
  For example, you know,
• 26:11
  the what if Reagan had been assassinated?
• 26:14
  What would the world have looked like
• 26:16
  after that, if if Kennedy had lived,
• 26:19
  what would or or you know, just some very,
• 26:22
  very interesting hypothetical history.
• 26:24
  I I love that.
• 26:25
  And then finally, what single tool or process have you implemented that
• 26:29
  has had the biggest time-saving impact?
• 26:32
  AI without a doubt. Without a doubt.
• 26:34
  it allows us to do
• 26:36
  investor analytics, market analysis,
• 26:38
  it provides guidance in in a time that would normally take us weeks to months
• 26:44
  to put together. it it's it's becoming kind of my my part-time employees
• 26:50
  at that point.
• 26:51
  And if that sounds really interesting to you,
• 26:53
  but you don't know where to start,
• 26:54
  that's where I come in. RealdealCrew.com.
• 26:56
  Yeah.
• 26:57
  Clickable
• 26:57
  link in the show notes as well.
• 26:58
  Well, David, I really appreciate your time.
• 27:02
  Again, it was worthywealth.com.
• 27:05
  That's going to be a clickable link in the show notes.
• 27:07
  Really appreciate your time, David.
• 27:09
  This was great. And I hope you'll consider coming back again real soon.
• 27:13
  Absolutely, Jack. Really a pleasure to meet you and and pleasure to be on the show.