Digital Social Hour - Making Millions off Stocks, Seeing UFO's and Favorite Places to Fly | Eisa Emami DSH #294

Episode Date: January 19, 2024

On today's episode of Digital Social Hour, Eisa Emami talks about transitioning from being a pilot to stock trader, how he was able to make millions trading stocks and the networking opportunities that came from being a pilot. APPLY TO BE ON THE PODCAST: https://forms.gle/qXvENTeurx7Xn8Ci9 BUSINESS INQUIRIES/SPONSORS: [e-mail] SPONSORS: Opus Pro: https://www.opus.pro/?via=DSH Deposyt Payment Processing: https://www.deposyt.com/seankelly LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit podcastchoices.com/adchoices

people are all the same if you look at the details of how they operate right they all want the basic needs right it's you know they want love they want money they want uncertainty they want certainty they want safety right so cultural divides may create conflict right but we all at the core root want the same thing and you start seeing that people just want a chance at success interesting welcome back to the show guys i'm your host as always sean kelly got with me a pilot stock trader interesting combination isa imami how's it going hey how you doing i'm good man i dived in your story a little bit and i'm really fascinated by your transition thank you from pilot to professional stock trader yeah yeah tell me more about that yeah absolutely

man i mean you know it started when i was 20 years old. I'm 33 now, so 13 years ago. It was just when I got into the aviation industry, I quickly realized that, you know, good money, good income potential, but you're still owned by a boss, lots of politics, corporate politics, and I tend to be an outspoken person, pretty individual in my opinions and what I do. So it was a pretty big gamble to rely on a boys club to make it, which is all thought, right?

And I looked into how can I create my own, for lack of better terms, freedom. And basically the elite always hung out in the stock market. So I looked at that and naively got involved and lost a lot of money, but eventually figured it out. So were you trading while you were a pilot or after? Yeah, while. Oh, wow. So I tried to get as many afternoon shifts as I could to be involved in the markets during

regular hours, Eastern time. And being on the West Coast, that worked out favorably because usually I could go to work like 1 o'clock, 2 o'clock in the afternoon if I could and be busy in the mornings. Okay. So you weren't trading while you were flying? No. No, nothing like that. Were you day trading? What was your strategy? You know, I started, no, no, nothing like that. Were you day trading?

What was your strategy? You know, I started out like most people getting involved in penny stocks, day trading. And that's where I found, you know, there was obviously upside potential, but the downsides outweighed the upside, which shied me away from it long-term. And what I started realizing is

instead of being interested in these big home runs, if you just get more fascinated by introducing investment principles where you actually look at sound companies and trade those sound companies, there is a way faster game than holding and hoping for average returns every year. Because you can actually start compounding your account week by week. Maybe not 300%, but 4-5% a week compounded across 40 50 weeks that's a way bigger return long term than holding for seven eight year seven eight percent i should say per year right so your approach is to get four to five percent a week and let that compound ideally yeah yeah yeah because like i said when

you run that long term it's it's just numbers are astronomical. It actually gets to a point where the position sizing, you can't trade a full-size account really anymore because your account size will be too big to trade to even get 4% or 5%. That's a good problem. Then you reduce the expectation, and that's what I would say. More money brings the lower expectation as to how it performs. Make 1% a week with more money. You can make still really good money.

Yeah, because once you're trading millions, you probably can get four to five percent a week no i mean it's depends what you get into right but um most of the most of the things in the position the stocks that i like getting into there yeah you wouldn't be able to push that kind of size yeah are you day trading like the news like are you following the news yeah so it's it's interesting so what i usually like doing is I like seeing the move happen first. I call it the dog and pony show. It's where the market making is happening in the beginning. The news gets dropped, the stock spikes, it crashes, whatever it is. And that's where usually the majority of the volume is trading.

And usually what ends up happening is if there's actual legitimacy behind that news play, there's going to be fall through plays thereafter thereafter and thereafter and that's where i like to actually get involved i know i rarely pay attention to the beginning where in the you know in the beginning when i started out um i tried chasing the beginning day everyone does like everyone does and what the mainstream advice has been right yeah so yeah that didn't work for me because that initial wave is too unpredictable right yeah you don't want to be on the wrong side of that exactly and. And you never know where it's going to go, ever. But when it's created a reference frame

and you have had time to provide and conduct due diligence on that stock in the meantime of that dog and pony show, while everybody else is busy losing and gaining manipulative money, what I call it, you're busy doing due diligence. And if there's legitimacy there, you go into it two, three days, sometimes a week or two after.

And that's not to sit on a screen forever to look at a stock screen. But what it is is you set alerts. And if there's something legitimate to play, it'll show up. It'll tell you when it's ready to be traded. Yeah. So how long did it actually take you to become profitable? Because I'm assuming most people lose money trading stocks. Yeah.

I mean, they always say stats are 90%, 95%. Actually, the rule is 90 by 90. Typical retail traders will lose 90% of their money within 90 days of starting self-directed accounts. That's very normal. So for me, I blew up three times in the course of five years before I really got on the side of being break-even and then eventually profitable

and then started learning that I was in it for all the wrong reasons. I was in it for the fast money, where the fast money comes from strategic compounding, not the individual stock or idea that you think is going to go to the moon. Yeah, it's not like an overnight fast money. No, it's not.

It's over weeks and years. But I still look at it as three, four, five years. Six years is a way faster timeline than waiting 40 years to hopefully retire when you can get a hip replacement. Right. over weeks and years, right? But I still look at it as, you know, three, four, five years, six years is a way faster timeline than waiting 40 years to hopefully retire when you can get a hip replacement. Right. You know? Yeah.

Going back to the pilot stuff, like how tough were the hours at first? I've heard some crazy stuff. Yeah, you have to pay your dues. Like in this, I mean, I'm speaking for most of the industry worldwide. You don't just get a freebie shot into a position. Like even when you're licensed and you're able to start working, I'm speaking for most of the industry worldwide. You don't just get a freebie shot into a position.

Even when you're licensed and you're able to start working, you have to pay your dues to get to where you want to go. And a big reason why the Boys Club is created, for lack of better terms, is because the only one that people in who conform to their ideas. And if you're not part of that group, let's just say, or you have different ideas than that group, then it's very hard to make it, even if you're good at what that group, let's just say, or you have different ideas than that group, then it's very hard to make it, even if you're good at what you do,

even if you've got the right experiences. So that's what pilots are called, the boys club. A lot of them have boys clubs. Yeah, they are. And you know what? I can't necessarily speak ill of it because I've benefited from that as well,

being in the right circle, the right place and right time. But it does hold a lot of competence back that should be in positions that they can't get due to the way the industry is set up. So to me, I called that career more of a gamble than the stock market, to be honest. There's a lot of benefits to being a pilot, though. You got to travel the world, you got some good networking. Yeah, absolutely. You see the world for what it is. What do you mean?

Well, what it is, people are all the same if you you see the world for what it is. What do you mean? Well, what it is, people are all the same. If you look at the details of how they operate, right? They all want the basic needs, right? It's, you know, they want love, they want money, they want uncertainty, they want certainty, they want safety, right? So cultural divides may create conflict, right? But we all at the core root want the same thing, which is where you start seeing the life, what it actually is. And you start seeing that people just want a chance at success. They really do. I think deep down they do.

Even if they're having a hard time, they want a chance. I like that. Yeah, I just went to Bolivia and I even saw that there, to be honest. Even though it's like a poorer country, people want the same things. They want it, yeah. And I'm sure when you're in Bolivia, people were probably still happy they're they would love to get a break if they could to to get into something that they don't know about absolutely because that knowledge gap is usually what prevents the the success yeah yeah you learn a lot while traveling man i always recommend because

some people don't ever leave their city or their state or the country yeah and i always recommend to go out there yeah absolutely yeah um you had a rough upbringing though right yeah before you even became a pilot you went through a lot to get there yeah absolutely i'd love to hear more about that story yeah man i mean it's uh standard sort of zero to hero story i feel like i mean i don't consider myself a hero but that's the saying you know zero to hero i we you know we were refugees in sweden you know i'm persian turkish i'm not swedish as you can tell blue eyes right but um yeah we went to Sweden. And my parents, after they were in Iran and I was born there, they realized that there was no future.

So they went with nothing but the clothes on their back, basically, to Sweden. Started from scratch. And I got a chance to experience growing up in a socialist country. Sweden is heavily socialist. Social benefits and everything. And you start realizing that socialism has great social benefits, but if you've got appetite for financial freedom, that ain't it. So in about eight, nine years of being in Sweden,

really working hard, my family were like, you know what, we're not going to do this. Our peers and friends in the US and Canada are putting in half the effort and getting further along. And we came to Canada, almost 13 years old. When you say socialist, what are you paying in taxes? Is it super high? Sweden, it's not uncommon to be in the 60s, 65s.

Obviously, income brackets and stuff. It's high. It's hard. Incorporations, obviously, a little less. There's still money in Sweden. Sweden's one of the richest countries. They're known for their banking, right? Yeah, but still, it's the people funded at the same time.

Your pin post on your Instagram caught my attention. The first sentence was, you believe that life is unfair. What did you mean by that? I think life is unfair in the context that people don't start out with the right privileges. And I think people don't start out with the same level of consciousness. What I mean by that is consciousness to me is if you're wrong, you have the guts to look at yourself in the mirror and say you're wrong. What do most people do?

They'd rather be right than admit they're wrong. So then they can't get conscious so when they can't get conscious to how you know what to what to do about the very thing that they want to solve they stay in a very limited mindset and then they start blaming their circumstances and their lack of privileges for why they can't get ahead right so i think it's unfair in a sense that you know people think that they're supposed to be given some sort of an advance in life and a handout in life and when they don't get it they get upset and they stop going after the thing

they're supposed to go after it and i and i what i mean by unfair in a perspective is i wish you know more people could realize that listen the first step if you've got nothing is recognizing that you probably don't know a thing or two about the thing that you don't that you want right right so it's unfair that you don't have it, probably, but it's not the end of the world. You can still go after it. You can still make it, and you just need that knowledge gap that you're missing. And so surround yourself around the right people.

I saw something the other day on Instagram. I can't remember what it was I saw, but it was really good. This guy was talking about you have a choice of working at McDonald's or in a country club. And it's like, well, in the country club, you're going to make connections. You'll learn how things work. You'll hear conversations that are going to probably be on the path of making money.

At McDonald's, you probably won't. Why would you choose to go to work at McDonald's if you have the choice to work at a country club? Both are serving service jobs. Where's that conscious choice? That's you. People assume it's harder. They don't want to put in the extra effort. Correct. that conscious choice that's you yeah i think because people assume it's harder they don't want to put in the extra effort right correct yeah right and i think that's where the the thing is you've got to be willing to do the thing that you probably don't want to do yeah and it's tough yeah i've seen you say in order to grow you need to be uncomfortable yep and i think people aren't

willing to even get to that point of being uncomfortable yeah um it's fear probably right yeah fear of a bunch of things it could be looking stupid nobody wants to fail nobody wants to look stupid in front of somebody else now everything's broadcasted these days right so when you start a company everyone knows yeah that's right everyone knows what you're up to yeah i think um i think as a as a sort of movement we got to stop we got to stop shaming failure right and if i think we stop doing that more and more people are going to stop feeling like they're bound by these artificial standards that don't actually exist i love that yeah it shouldn't be like something to make fun of

you know everyone fails yeah i think you know there i can't remember the exact line from friends the show but you know when monica was dating that rich dude right and it's like he was a moss 800 something before he became who he was that's such a true statement like it's not the first or second thing that's going to usually work right so for me it was five years of not making any money and looking like it probably like a complete loser to people i was talking about that i'm going to be a stock trader right so you know of course there's moments where i was doubting that i was going to make it because people necessarily didn't believe my vision because I wanted to fly airplanes, I wanted to trade the stock market,

and I wanted to play pro drums as a drummer, professional drummer. All three things I achieved now in my 30s, but in my early 20s, there was probably one or two people who actually supported me. Wow. Did your parents support you? My mom, that's it. My father passed when he was when he was 44 i

was 13 years old so um you know so it was my mother and then when i finally met love my life britney she was the other person that supported me only these two people were in my life that really were like you know you're gonna get this even though like you know nobody else really believed in what i was doing here's friends whatever and i think there's also sort of a comparison analysis that happens you know friends don't always necessarily in the beginning want to see you do better than them especially when you're young it's a good point right it's tough that's something like innate right it's it's weird it's a herd mentality right yeah because it's it's threatening to them if you get ahead right and you could kind of feel it when they think that way too yeah it comes out in

in usually the conversations. Little comments, yeah, like witty remarks and stuff. Yeah, I noticed that. Right now, I'm sponsoring one of our family members to go and become a pro golfer. The odds are against them, but we're still doing it. So you believe in supporting your family? Correct.

Okay, absolutely. Some people like to separate business and family. The way I look at it is getting to an arbitrary mountain of power where you have authority, influence, whatever money that you want. Being there alone is pointless. You need relationships. You need to lift the people immediately around you.

It comes not through the form of handouts. It comes through them also wanting that lift, which a mindset play it is it can be super tough yeah especially someone working corporate their whole life that shift is tough yep i've seen you talk about wealth depression yep so i didn't even know that was a thing until i saw you talk about it i actually had that yep at one point did you have that also absolutely when i crossed million bucks yeah my first million yeah i had it once yeah because once you have a few million, you're like, wow, do I even need to work anymore? Yeah. And you kind of get a little depressed.

I kind of call it, I think you're born once in life and then you're born a second time when you cross a financial threshold that means something to you. And that's different for everybody. Yeah. Right? So for me, it was obviously if I could be a millionaire. So the first million was that right so when i got there you you realize very quickly first off welcome you know you're the small font so sort of the small fish in a big pond right right uh there's so much more money

out there but we also realize is that compared to the life that you're living you could take a break for 10 years 15 years at 50k 80k year, basic middle class salary, and nothing will happen to your life. You're just going to coast along. And that's pretty depressing because now what's the point to hustling? Right. And that's where I stepped away from flying for a little bit because I had thought it was pitched to me, the idea that being wealthy and rich and my first million

being the first step of that. So you made that from piloting? No, no, no, from trading. Oh, from trading. Yeah, from trading, yeah. So my learning was that, okay, well, if I get to this level, I should just retire, right? Isn't that what we're all shooting for?

And then I realized very quickly, no, I actually love what I do, right? But I don't love the monetary aspect of what I do. Right. Because it's basically restricted and it's scarce. And there isn't easy money as a result of your work ethic. Your work ethic isn't necessarily rewarded all the time. It doesn't match it, yeah. No, but with trading, it was as a direct result of my mind.

The asset was the mind and the growth of the mind was more money. So you have to find a different reason to want to keep going after that once you don't need it for immediate needs anymore. Absolutely. So with us being in a recession right now and the stock market being kind of volatile, are you down a lot of money? No, because I don't sit in any individual positions.

So my idea of diversification is if the market's hitting a top, which it has, so right now we're towards basically the third quarter of 2023, right? When the market hits a top, which we've now had since the run, right, of the war that we had, the crash that we had, we've had a run since then, right? It's, to my mind, even if it's a possibility that you may lose out on some gains, I'm not interested in sitting in diversification during those times because those times are usually when corrections happen. My belief is if you've got the cash, or the more advanced strategy of this is if you secure debt against cash, assets, then you start getting

an interest rate based way of making money if you understand how to trade. Because you're now not paying income tax on debt. You're paying interest rate, which is a write-off in your incorporation, to trade that capital. That capital has to be secured against cash. But you're not paying income tax on debt. That's the wealth play that most people usually don't ever touch. Yeah, I never knew that. That's the wealth play that most people usually don't ever touch. Yeah, I never knew that. That's fascinating. If you look at most CEOs worldwide, they'll take a little bit of salary,

but they want the majority of their pay in stock. And the reason for that is once they've come in and they've quadrupled or 5x the stock of the company, they can go to whatever bank they're banking with, private banking, and secure a collateralized loan against the value of the stock, usually 80%. Wow, so you could get cash for that stock. Yeah. Usually prime rate, you get credited prime rate.

So if prime is, let's say, 6%, they'll get it at 4.5%. Dang. Because it's a secured loan. So that saves them all the income tax. Yeah. So now they're paying interest, not income tax. I'd rather pay 4%, 5% than 40%. 100%.

That's a huge change, especially if they're making $5 million a year. They're saving millions. So this all depends on how much they hold in stock, obviously. They usually strategically, they have their planners and their financial advisors and what they do. Most CEOs, most executives at these Fortune 500s, etc., they rather get paid in stock. I did notice a lot of them have a low salary just to cover expenses at these Fortune 500s, etc. They rather get paid in stock.

I did notice a lot of them have a low salary just to cover expenses and then majority stock. And one of the biggest things that, again, this is one of many things that plays a successful trade is look at how the insiders are behaving. And that's easily found. They're called SEC Form 4s. You look at an SEC Form 4, you start seeing how an insider is behaving. If they're buying up

their own stock, something's likely happening. Be between the lines. I love that website that follows Nancy's trade. Nancy Pelosi. She's like 70 and she's making tens of millions. But it's insane, right? Because people think that trading is rigged and is a gamble. It really isn't.

What is the gamble is your lack of knowledge. That's it. Fix that and it ain't a gamble anymore. really isn't. What is the gamble is your lack of knowledge. That's it. Fix that and it ain't a gamble anymore. And also I feel like people get too emotional. Yeah, but that's because they define money. And one of my messages and one of the reasons I've wanted to start podcasting, because I'm new to this,

is I want to start spreading the message that, you know what, the definitions you have around money ain't usually it. And you usually only realize that once you have a lot of money. So I think a sort of humble movement should happen where people who don't have money

or have not much money should be honest with themselves that they don't really know what a lot of money is like. So the things they're defining it to be are probably not true. So they're chasing all the wrong reasons. So they can start getting down to what they actually value and they understand that money supports those things that they value, now you effectively have a reason to start going after money. Endless money is pointless.

Yeah, I think there's a limit where it starts losing that meaning almost. Yeah, and there's two types. You have the spending mindset and the investing mindset. A lot of people want a lot of money just to spend money. They just want to be a consumer. They don't really actually want a lot of money. They just want to spend a lot of money. Where I'm like, okay, well, what good does that do long term for you and let's say your generational wealth?

Is that the only reason you want money? Well, then I think it's going to get pretty boring and pretty frustrating when you're not making money easy because your reason's not big enough. Yeah. You go down that rabbit hole, you're going to end up losing it all too if you're not investing. You're not valuing it. Yeah.

So what's your percentage breakdown with what do you invest back? Yeah. So in terms of the profits I make? Yeah. Yeah. So usually I like sitting mainly in cash and only invest when I see opportunities, right? So another thing that I really am a big believer in is that real estate's not necessarily the thing that makes you rich up front.

Like it's not really a poor man's game to go into real estate and expect to become rich. Like real estate's typically a place where you park capital when you have a lot of money to park. You don't want that to sit in the bank, so you'd rather sit in something else, like a physical asset that you can make money off of. Usually, I like sitting in cash unless I see good real estate deals, multifamily

deals. You've got building 20 units, you put money in there, and you make rental income off of that property. Typically, I like going into IPOs now, like initial public offerings. That has to happen through the lens of being around different types of investors. There's incubators and obviously there's what they call venture capitalists. And being involved in those endeavors

and activities because you don't just want to be sitting there trading 10, 20 million dollars at a time. It's just the money will get to a point where i think even if you put you know the the most you know mastered individual from a mindset point of view and put them with a 200 million dollar account there will come a point where they will start making emotional decisions right we're still human right what i think is what you're capable of those you're capable of stretching the limit of where you start emotionalizing money right i think at you know 5 to 10 15 million it's it's easy to to sort of not look at that as a thing that you're too worried

about if you've got a strategy on how to grow it yeah but once you start getting into massive amounts of money right um i think it gets very hard to just put that all in one position so you need to reward right yeah so diversification to me is not something you start out with something you do to hedge your bets later on right right a wealthy person should diversify someone who's got nothing to their name should go in on one income producing skill right so learn trading really well learn amazon really well learn drop shaking flip whatever it is yeah learn that skill really well to so you get some capital into your name and then diversify into different streams of income i love that i just saw alex ramosi talk about that too yeah that's right he did talk about that it's strong it's the only way to go yeah yeah i agree um so in terms of like

because you made over 10 million trading stocks yeah now are you taking loans out against your portfolio balance yeah and then you're reinvesting that into other assets. That's like a money glitch. Yeah. But it's the game of the wealthy, right? And then you need to back that with life insurance as well. Another part that a lot of people miss too, and again, it's because it's not talked about enough, is you need to be insured with your capital. So if you're worth $20, $30 million, you need to insure that.

And when you insure it, there's different types of insurance policies that you can also get into. But the insurance types that you want to get into is the ones that you can invest. So if you can invest life insurance, let's say you're worth $20 million and you back $15 million of it with insurance.

Yeah, you got monthly premiums to pay for that. But now you have access to $15 million of it with insurance. Yeah, you got monthly premiums to pay for that. But now you have access to $15 million of capital that you can invest, that you didn't have before, on top of your current assets. So wealth scaling happens when you back it up with insurance. And I think, honestly, the easiest way, I think I did it the hard way, because I went straight to lines of credit to start trading.

I think the better way, looking back at even what I did, would have been going into a life insurance policy, paying the monthly premiums for that to have access to a capital, let that compound for a few years, and then pull the excess capital that I have and put that into the markets. That would have been a way better way. Wow. Right? Because if you look at a 500, let's just look at a basic $500,000 policy, right?

A $500,000 policy, you put that on average 7% yearly returns. After three, four years, you got a couple hundred grand, $250,000 at least in your pocket. That's now money you can pull out, like the wealthy guy, the wealthy executive that secures that against the loan. You can secure that

extra $250,000 against a low-interest loan, I should say, and then go and do high-risk activities with it. Dang it dang so from nothing to everything wish they taught this stuff more nobody does well they do but it's it's in it's behind closed doors yeah yeah yeah um so what's the proper way or most efficient way to buy a house right i'm buying my first house next year cool i talked to my accountant today he said not to put it in a trust but my rich friends are telling me to do that. I think it depends on the long-term wealth play

that you're after. I don't know about the states. I'm from Canada. In Canada, we have something called a lifetime capital gains exemption. That means one time in your life, you don't have to pay capital gains on a withdrawal of capital gains.

If you have a family trust, in your case, I'm not sure about your family setup, but if you were to have, let's say, a wife, kids, etc., well, the more beneficiaries exist in that family trust, every single person gets a lifetime capital gains exemption. So if you're all now the beneficiary of, let's say, a massive incorporation

with real estate in it, of course it makes sense to be in a trust. Because now... I don't know about the states. I actually don't know about the US. That's amazing. But in Canada we have that. So I believe in trust and I think that's the way things should be set up.

I think the beneficiary of most setups should be through a trust because of the tax scheme. And the tax codes are actually written to benefit you when you have money because what that allows, a lot of people look at this the wrong way. They think, oh, tax the rich, tax the rich. I get it. I think that the rich should, we have almost like a moral obligation to help people out, to lift them out of where

they're at. But through education, through showing you what to do, maybe through grants, by effectively not taxing the rich as much, what you're allowing is allowing this group for us to come and implement more opportunities, more businesses, more jobs to help lift more people up. One of the things that I'm a big believer of and a proponent of is we love employing people into my company, the one company that we have, which is teaching the

stock market. We love employing people who actually don't just want an income, but they want to learn a skill. Because now we're basically investing in them as people to learn the market and learn the stock trading. And if they want to do that long term, now they've got a platform and an individual and the coaches that work with me and the mentors that I have to learn that. So to me, lifting people isn't just a monetary handout. People think it might be a lottery payout, but it's not. You need to know what to do with it still. And most people say, oh, I just buy real estate.

Well, would you know what to buy? How to buy? Would you know exactly what to do with it? And when you start asking people those questions, usually five questions in, they would not know what to do with $50 million. There's a lot of nuances with real estate and a lot of different strategies.

You kind of don't know what to do almost. It's easy to get bankrupt in real estate. Yeah, it is. Yeah, because if you got hit during that recession you lost everything yeah getting the wrong deal yeah special assessments times 20 units do you have the money to back that up wait what do you mean by that so for example you go into a bad building yeah right all of a sudden each unit gets hit with a 50k assessment because there's gonna be an upgrade done to that building well you got 20 of them now so now you've got the real estate but but you have the money to back it up i didn't know that was even a thing assessment yeah wow because they're like assessing

if this building's safe and everything yeah exactly things could happen to the building where it's not deemed to be safe or a legal suite we call them in canada legal suite so if all sudden something gets hit on your building you need to still have the capital to back that up so that's why i always always say real estate should not be a poor man's game to wealth. It should ideally be a mid-term wealthy person to a really wealthy person's position to maintain the wealth.

It's a wealth-preserving asset. It's not an income-producing asset. Because most people, the only way they could make income on real estate is if the interest rates are low. That's it. I like that view because that's not the view you see on social media. The view on social media is you're going to get rich off real estate. It's because I think people look at what's happened in the past.

The amount of buying that's happened in North American real estate has made the prices look that they always go up at ridiculous rates. But if you look at real estate for what it actually is like historically speaking as it has been meant to preserve the very wealth that you've got so if you're a middle-class person it's designed to give you a paid off house at the end so you don't have to you know pay for it anymore and you just rely on retirement income to live your life in that house yeah it was never meant to give you a house that's worth now you know 20 times as much that was never the game of real estate yeah i never that was never the intent yeah yeah uh you ever see any ufos while you were flying um once flying over roswell really yeah i mean i'm assuming it's a ufo but yeah definitely

yeah you do see them um but i would say my encounters have been two times one's what was over roswell and once around den Oh, I thought you were joking. No, no, no. You actually saw one? But they're not, they're not, well, how do I explain this? They're not necessarily an object that you can say that's a UFO,

but what is that? Okay, so it's like a dot and you're like. Yeah, so to me, it's like, it looks like a weird object. I can't exactly tell what it is. It doesn't show up like at high altitudes. We see traffic, all other airliner traffic, we see them. Could have been a military jet, I can't exactly tell what it is. It doesn't show up at high altitudes. We see traffic. All other airliner traffic, we see them. Could it have been

a military jet? I don't know, but it looks very unidentifiable to me. To me, I don't see that as something that's possibly not a UFO. Wouldn't the military jets be on the radar, though? They should be, but there's types of jets that can turn off the way they project radar returns.

It's been a great episode, man. I've learned a lot. Anything you want to close off with? No, not really, Matt. I just want to thank you very much for this. Is it okay if I drop socials in here as well? Where am I looking? Over there. If you want to find out more about what I do, how I help people, or even if you just

want to talk about things and get started, find me on Instagram at TheRealIsaMami and Facebook.com slash IsaMami, E-I-S-A-E-M-A-M-I. to talk about things and get started uh find me on instagram at the real isa amami um and facebook.com slash isa amami e-i-s-a-e-m-a-m-i there we go thanks for coming on he said it's been a pleasure thanks for watching guys as always and i'll see you next time