Latest / Master Passive Income Podcast Network / Using an Extreme Sports Background to Achieve Real Estate Success with Austin Hair - MPI Multifamily Commercial Real Estate Investing

Transcript

Using an Extreme Sports Background to Achieve Real Estate Success with Austin Hair - MPI Multifamily Commercial Real Estate Investing · Master Passive Income Podcast Network

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.