Epic Real Estate Investing - Short Term Rentals B.C. (Before Covid) | J. Massey | 1004

Episode Date: April 30, 2020

In today’s episode, Matt is joined with his brother from another mother, J. Massey, a real estate expert and the host of the Cash Flow Diary podcast! Matt and J. discuss how the current situation im...pacts short-term rentals and how you can re-purpose them to fit the needs of the shifting market. Tune in and find out how! Learn more about your ad choices. Visit megaphone.fm/adchoices

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Starting point is 00:00:00 This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit R-E-I-A-A.
Starting point is 00:00:35 Thisbase.com. Here's Matt. Hey there, Epic Investor. It's Matt Terrio from Epic Real Estate, where we show people how to invest in real estate with an emphasis on retiring early. You just got to do one thing, one time that's shifting your focus from creating mountains of cash
Starting point is 00:00:54 to creating streams of cash. Do that one time, back it up with action. And you can exit this rat race in about 10 times faster than how most people are going about it. This is the Epic Real Estate Investing show. if this is your first time here. Really glad that you found us. Make yourself at home.
Starting point is 00:01:08 And if you like what you hear, make sure you hit the subscribe button before you go. If this is not your first time here, welcome back. And thank you for sharing us with your friends and family. Just past our 10-year anniversary. Just had our 1,000 episode. You are the absolute best for doing what you do because we would not be here unless you did do that.
Starting point is 00:01:26 So thank you. Very grateful. Got a great guest joining us today, one that I've been looking forward to for a little while. Truly another brother from another mother. A long time friend, just like siblings, just like best friends, they're getting spats and they go their different directions. But just like siblings and best friends, they eventually meant fences and come back together and connect. And this person is one of those people for me.
Starting point is 00:01:55 And I'm just really grateful that we're back in communication and everything is friendly and it's water under the bridge. Bygones be bygones. I don't even care about anything other than the... future. And so what's really funny about this person is that I frequently hear from you saying stuff like, hey, you sound just like this guy. You sound like just like that guy over there. And I was like, well, that would make sense that we would sound similar. I'm sure that we say a lot of similar things. When you start at the same time, in the same place, pulling from the same resources and the same mentors, that probably has a tendency to happen. So I asked him to be on the show
Starting point is 00:02:34 today to let you know that we're actually two different people. And it is, I don't know, just welcome him back. And I want to introduce them to you if you are new to this show within the last seven or eight years because it's been that long. So please help me welcome to the show. Host of Cashflow Diary, Mr. Jay Massey. Jay, welcome back to the Epic Real Estate Investing Show. Oh, man. I am, I'm so glad we're two different people. Yes. Oh, hey. This is proof. You can hear two different voices simultaneously. on the same show. Yeah.
Starting point is 00:03:06 Oh my gosh. That is hilarious. And it's funny is that I hear the same thing that people ask me all the time. Hey, do you know that, well, they often say Matt Terry Alt or Terry O. They never get the last name right. And I'm like, I know exactly what you're talking about. Nobody ever does. Right.
Starting point is 00:03:26 Right. So it's just funny how that is true. But cash flow still works regardless of how long ago you started. Mm-hmm. Mm-hmm. So, I know your history. And you can go back to, I don't know, episode 50 or something like that. And you can hear Jay's story back then a long time ago.
Starting point is 00:03:45 We just passed our 1,000th episode on Sunday. Awesome, man. I'm only at 600, so you rock. Yeah, we shifted to daily about two years ago. And then that racks them up pretty quickly. Oh, my gosh. Yep. That's a whole different story.
Starting point is 00:04:01 Totally. And not too many guests, not too many interviews. We have, this month has been a little bit different because we've been bringing everybody on to talk about the shifting market, how it's changing their business and whether they see for the future and what are they doing about it. Okay, got it. So I'm sure we'll touch on that subject here at some point, but bring me up to speed. What does business look like today for Mr. J. Massey? So again, I don't know that it's changed much. The focus is the same. We're still after cash flow. The only thing to change is really how we go about attacking it. Because when you start anything, you want to get better at it. And that's really been the entire focus is how can I maximize not just revenue, but net profit with each and every activity that I do. And then also do it once, make a system out of it, and then have someone else ultimately do it,
Starting point is 00:04:54 and then get them to be more and more efficient. We started, as many people know, or as you know, We have the apartments in the cell phone towers and all that stuff. And through that, learning the economics of long-term real estate don't always allow for income today. It's really great for wealth tomorrow. But if you want both right now, you want to be building wealth and income. What I started looking for, man, this was for a long time. I was trying to find some laundromats.
Starting point is 00:05:27 I was trying to do some, you know, El Pollo Locos, a number of, I even went down the Jiffy Loub route. Now, you know me, me with a jiffy loop. Does that even make sense to you at all? That is a dangerous thought. Right. You're like, hold on. No, I'm not taking my car there.
Starting point is 00:05:46 You wouldn't, you shouldn't. But when you look at those numbers, it was like, well, can't ignore that. You know, so I went down the casino route, went down looking for, we went over to hotels, and that actually planted a deep seed for what we're doing now. But I was just looking for a way to generate more active income because it was like, man, I don't want to just build wealth for tomorrow. I want to generate wealth and active income now. And then I was really frustrated by not being able to generate jobs locally.
Starting point is 00:06:20 I was frustrated because I would see people that I knew that I wanted to help, but couldn't help because everything else was back east. in Memphis and Michigan and Georgia and just not near here in California. And I just felt like my hands were tied and I couldn't figure out a way to do something. And it was just really, it was frustrating for a while, to say the least, to say the least. And as you know, the numbers in California still, they don't make sense. And I guess ultimately, I ended up stumbling upon a way that made the number. make sense because of one of our students we were training brought the idea to me and I just did
Starting point is 00:07:06 what always do. I was fully prepared to say, nope, this opportunity is horrible, but I was like, you know what, let me look at the numbers. And then I looked at the numbers and it just tweaked my brain for a second like, wait a minute. What do you, I mean, you may have found something here. I don't think you understand what you have. And that's what we've then developed into this short term rental world today is being able to have the same numbers, same cash flow numbers that you would get with the lower, less expensive property, but higher quality real estate. I call it the poor man's McDonald's strategy for lack of the better way of putting it. And it works out very well. Very good. So short-term rentals is pretty much, that's your focus today, right?
Starting point is 00:07:50 That is how we are driving cash flow and from what we've experienced is it's been the thing that has helped more people transition into long-term real estate. So let's not, I mean, I didn't go crazy. I still like holding real estate. Let's be clear. And what I was looking for was an easier way to help more people transition into it so that they could start with whatever they've got and then learn along the way. And that's basically what we call our three-phase system when it comes to short-term rentals.
Starting point is 00:08:25 Right. So when most people are choosing the wholesaling route to create their active income, you chose the short-term rentals active income. Correct. Yeah, exactly. 100%. It works out better. I think it works out better.
Starting point is 00:08:43 But yeah. And I get excited about it. It's also fun. It's probably the most fun I've had with any sort of real estate strategy. Okay. We're going to talk about that in a second. because I've got some questions about the fun part. Bring it.
Starting point is 00:08:57 Well, okay, no problem. Okay, so that's fun and it's also fun with quotation marks. It's both. Right. It's all of just, gosh, entrepreneurship is fun with air quotes. Exactly. Exactly, exactly. Right.
Starting point is 00:09:14 Okay, so let's talk about the current events of the time. How is this impacting short-term rentals? So it, well, here's the thing. Is there an impact? Yes, but it's not what most people have considered. Most people, when I say the word short-term rentals, they respond with, oh, you mean like Airbnb. And I'm like, okay, cool. I hear where you're coming from.
Starting point is 00:09:37 Airbnb is a marketplace, and that's the first thing to understand. So the short-term rentals aren't going. That kind of like Kleenex and tissue? Exactly. Exactly. And only worse because at least you like Kleenex. Not everybody likes here. Those are two different things.
Starting point is 00:09:58 So the challenge is once you elevate to that next level of thinking, and you realize that short-term rentals specifically have been inside the United States since the Civil War time, they're not going anywhere. What did change? There have been changes. There are some procedural changes that we have made, especially around cleaning and whatnot. But the major issue that happened is what was developed instantly,
Starting point is 00:10:24 almost overnight, was you had an instant marketing problem. That's what happened. And if you can learn or when you learn or as you learn to solve that marketing problem, the rest of the challenge, quote unquote, tends to go away. All right. How so? Oh, okay.
Starting point is 00:10:43 I didn't, I'm like, how long we're talking? So I just mean, Because here's my reference point is I've got a couple clients that have properties that they've turned into. Okay. Airbnb, I mean, short term rentals. Yeah, yeah, it's fine. Go ahead. What people are used to saying.
Starting point is 00:10:56 It's all good. Right? So they've turned it into short-term rentals. And one particular that comes to mind that she's in Denver. And she had it booked for a couple weeks. Yep. And actually got stopped at the border. Her guests got stopped at the border and turned away.
Starting point is 00:11:11 Yeah. So I was like, wow, is that happening everywhere? Or was that a unique situation? No. that was not unique at all. In fact, over a three-day period in March. So basically, I think I want to say it was like the 12th through the 15th. It was absolute insanity.
Starting point is 00:11:33 That's probably right about when it was when she told me the story. Yeah, yeah, that I would not be surprised at all right around then. And there was, it's a threefold problem. One, we had a single, well, depending on your customer. your marketing mix, you may have had a single point of failure, just there. You were solely dependent upon this platform known as Airbnb to deliver your customer. That's number one. Number two is the platform unilaterally decided, hey, we'll cancel all, sorry, not cancel, we will allow every one of your coming reservations to ignore the cancellation policy that you put there for
Starting point is 00:12:15 your business's protection. So they unilaterally decided, we're not going to do that. We're just going to give them all of their money. Those two things in and of themselves would be bad, but the dagger was when new endbound travel was restricted. That's when things fell apart. Being in California, our primary business, our primary customer is, first of all, business, and second, from Asia. So they were the first country to be, you know, travel to the U.S. And then the U.K., when the U.K. and Europe went down, I was like, okay, now I've got a problem. And we've got to figure this out. And then they gave everybody, they said, hey, you can cancel for free.
Starting point is 00:12:58 And that's what happened. And in about 72 hours, I watched easily 117 reservations, probably, I don't know, more than 100 grand of revenue. for the month just disappear. And I was like, wow, I'm just not going to look at this right now. I'm going to wait. It was just too, it was, I can't even begin to tell you. It was the craziest, the shortest, the shortest time. Like I just started telling people, don't look at your email.
Starting point is 00:13:29 We're going to figure this out. Breathe. Go get a Starbucks or something. Oh, that Starbucks is closed. Well, yes. And then Starbucks did. Like, oh, great, what are we going to do? But then you go back to basics, right?
Starting point is 00:13:46 And we started analyzing the five areas you analyze in business, and you just begin to, and that's what I've been doing is taking individuals through. There's a very clear process that you can take any business through when it's experiencing a crisis to figure out what changes do I need to make. You just have to analyze five key areas, three different stages, and then you make changes as you go forward. And that's what we've been doing. But the biggest of the area is what is called value proposition.
Starting point is 00:14:16 It's how, sorry, value demonstration. How do you demonstrate the value of your product? Has that changed? And that's what changed. That is the biggest area of change. Because how we did it before isn't how we do it now because here's a quick example. For the lady in Denver, for example, if, her value proposition was anywhere around skiing and the resort, guess what? That doesn't matter
Starting point is 00:14:46 anymore. So there's no need to put in your title or description that you are close to X, Y, Z resort, because the resort's closed. No one's coming for that reason. But, you know, what is valuable, how close are you to that hospital that my relative might be at? How close are you to a, And here's a unique strategy specifically, again, for those with houses or in marketplaces like Denver, one of the places that many people, especially if you have a larger property or finding success, because of COVID-19 and everything that's going on, the assisted living facilities or places where elder care is happening are experiencing an massive outbreak. Now, many of you, you love your grandparents. You don't want them, you know, mom, dad, no.
Starting point is 00:15:35 You don't want them in that environment at that moment, but you can't bring them home right now. But what you can do is use a short-term rental and then have the caregiver meet them there, which takes them away from all the other people who are also in that same situation and gives them true isolation, right? True, you know, distancing, if you will, so that they can be in the safest environment you could possibly provide. Now, you still can't go visit them. but at least they're not around someone else who could potentially be infected or around that many more essential workers and nurses, et cetera. So we've had a number of people begin to market their property that way. And people are, you know, so that those become two, three, four month reservations, which can take a lot of the stress off. That's what you call a pivot.
Starting point is 00:16:33 Oh yeah, yeah, yeah, yeah. It's a massive. It's a pivot. Exactly. Figuring out the five areas of where to pivot and then what to do about it so that you can market differently. And that's basically the process of so many businesses are going through. So you had said the Airbnb is just one marketing platform. And you've made this modification to how you market when this whole thing went down.
Starting point is 00:17:01 Right. And so what are. How would you get that type of message out that, you know, stay next to your relative at the hospital or check them in here so we can take care of them here? So depending on, again, the rest of the system that you have set up, one of the things that you have access to is you have access to every person who inquired or stayed with you in terms of their email and phone number. So, you know, putting together a marketing automation platform or text message system or developing a referral coupon. I mean, it's not rocket science. If you've got to do is copy what Vegas would be doing if they were open. You would know, you know.
Starting point is 00:17:43 And that's it. So you've got all those names. You got all those numbers already. Give them a reason to send you a referral. Give them a reason to get you connected to individuals. We also then picked up the phone. I know it sounds crazy, right? What?
Starting point is 00:17:57 I put the phone to make a phone call. And started calling hospitals. also started calling fire departments and police departments because the firemen and policemen, guess what? They don't want to go back home. The people who work at the hospital don't want to go back home because they don't want to bring their work home with them if you get, if you catch my meeting. So they need a place to quarantine too. So all of those have also become very good resources. Also, because of the demand, nursing agencies abound.
Starting point is 00:18:30 And there are so many what they call travel nurses, et cetera, that are being shuffled around. And those individuals work on a 13-week contract so you can take care of a location for about 13 weeks, you know, if you will, which then gives you also so many more ways that require no platform. None of what I just said is a platform specific. And even still, we still just change how we market on a platform and begin to, like I said, change the words. No one cares that we're near Disneyland right now. Like, that is not an attraction. So it's not that big of a deal. But what is an attraction is you've got a whole bunch of individuals who still are employed,
Starting point is 00:19:21 but they're employed at home. And they were never intending, A, to work from home. and then B, they're working from home with their kid. Things they never intended. So they're trying to figure out. Like they're fighting literally over the kitchen table. So now work with employers and say, hey, if you've got a, you've got people who are used to working in an office,
Starting point is 00:19:40 they still need to do the social distancing, et cetera. Here's a nice one bedroom. And by the way, we have highest Wi-Fi and we've already got the desks because that was part of our business strategy to begin with. He was selling the same property to a different customer. because the needs have changed and how they use it changes and it it's just a lot of that you know and so it's it's not as efficient marketing but it's still effective but because it's not efficient very few people are doing it which also means there's profit in it there's definitely the capability
Starting point is 00:20:16 of earning more than what you were before now and whether you realize it or not it is the it's actually there are some parts of this thing that are easier now than it used to be so it's like cool um yeah the more you're talking the more i'm actually seeing that i was like wait gosh i think a business might even be better for you right now based on what you just said and all those things are so obvious right um but they're obvious they're there they're not yeah it doesn't take rocket science i can't no no exactly i mean it takes to to separate yourself from what's going on and then think critically, maybe, is the word I'm looking for? Sure.
Starting point is 00:20:59 I mean, a good little whiteboard session with a couple people, like, all of those things would have been hashed out right away. You're laughing like, that's what happened. That's exactly what we're doing. We're literally doing. I have a whiteboarder. It's actually black and I use neon. And we literally list it out and we go, okay, what about this? Does this need to change?
Starting point is 00:21:21 And if so, how? what about this? What about this? And we just literally go item by item, idea by idea all the way from top to bottom. And at the end of the day, what comes out on the other end is, oh, well, this is what we can all do. And it ends up being too many options. So now you just choose the ones that you want to do and you execute that. Nice. So where we sit right now with so much uncertainty as to where we're going to when we're going to pull out of this thing and what it's going to look like once we do, what sort of opportunities are you seeing in the next six months? Oh, man. Dude, it's just like when we started. You know this. Right.
Starting point is 00:22:01 I've committed this whole month to creative acquisitions April is what we've called it. And I've been just saying, you guys just don't know. And I'm so excited. I wish people weren't dying to cause this, but we only can control what we do. And if I was as smart and as experienced as I am now back then. Right. And I'm just trying to like convey that through the speakers. Like you just got to,
Starting point is 00:22:23 you have to like just really, it's just like, you've been given a second chance. You've heard. I can't even vocalize how exciting the marketplace looks because of, but we've already been through what we know and we know how to go out there, identify the opportunities and execute. I mean, a quick example, very short-term rental related is I am seeing. have seen multiple times now where operators, existing operators who didn't, maybe didn't have
Starting point is 00:22:56 all of the foundation and infrastructure that they should have, are getting out and to get out what they're looking for is anywhere from $2,000 to $4,000, all-end costs for all of their furniture, taking over the lease, everything. And I'm just like, oh, my God, that is insane. because the value, the ability for you to ROI that startup cost, that's like three months maybe before you get 100% of your money back and then everything else after that is just kind of gravy. It's just insanity.
Starting point is 00:23:32 And then for all of the people who are in the middle of a fix and flip and we're on the way to escrow or about to be at escrow and now have a really big unit that's 100. percent vacant. Oh my gosh, we can help you. It's like we can, there's opportunity there. There's just, there's too much opportunity as part of the problem. So it's like, okay, which ones am I going to focus on? What is your, what is your preferred way to reach out to people in that type of situation? My best, my absolute best preferred is the person who's in the middle of a rehab multi-unit building 100% vacant.
Starting point is 00:24:14 because I will just let them know if you'd like it to be 100% occupied, I can help you. It's just that simple because that's exactly what we would do. We would get them to 100% occupancy within a matter of weeks, if not faster. And most landlords are very receptive to that message right now. In fact, one of the landlords that we work with, he disclosed to us that he has a 32 unit building. when all this fell apart, because of his proximity to a particular workforce, 30 of his 32, tenants told him, we can't pay rent. And when a landlord has that kind of a problem, and then you say, well, would it be okay
Starting point is 00:25:03 if I become your tenant? And you literally mean the entire, I mean, hey, let's, that becomes an opportunity. This is a great opportunity to expand your footprint because it's about units of production. And a rising tide does lift all boats. And the only question is how many boats are you going to have? Yeah. Okay. Okay.
Starting point is 00:25:24 So we're sounding just like. I mean, I said in different words. I was just saying the name of the game right now is control. Right? How much stuff can you get control of right now? Right. And I mean, with minimal exposure. And that's exactly, I guess.
Starting point is 00:25:40 Maybe we should tell them we didn't rehearse ahead of time. We did not. No. You say this and I say that. Yeah, we said the exact same words, but in very different words, but the exact same thing. So what do you think are the potential risks? What are the pitfalls for people wanting to jump in and take advantage of all this opportunity? Well, ignorance is always the risk.
Starting point is 00:26:04 You know, what you don't know can and will hurt you. There's a lot to learn with because one of the reasons I like short. Terminels as the gateway drug, if you will, to the rest of the real estate world, especially long term, is because you are forced to learn some of the basic things that it takes to run real estate long term. You're forced to learn a move in and move out inspections. And you get a lot more practice with them a lot more frequently. So you get really efficient, really good at them quick. You're forced to learn screening. And that is huge. Being able to keep a place safe and secure.
Starting point is 00:26:39 And then knowing how to properly respond when something crazy happens is beyond critical and important. But it's a common fail point. Then there's also still the hardest thing. It's always been the hardest thing. But pricing. Understanding what to charge for three Tuesdays after the second Monday on the third moon four months from now. It's not, it's the most difficult part. And it's even made more difficult
Starting point is 00:27:14 now because of everything that's going on with decreased international travel and being restricted basically to domestic and regional travel and just understanding that. Like if your plan was centered around large events, your Coachella's, your, you know, amusement parks, your anything in the that's not happening and that changes a lot yeah that changes a lot immediately right right
Starting point is 00:27:44 um so anyone of the risk because you just don't know what you don't know about right right right right right I think ignorance was that was a really good answer um it's true um I didn't have anything prepared to discuss today what should I be asking Jay that I'm forgetting to ask
Starting point is 00:28:04 Sorry, that takes me back. Okay, what's in, I mean, maybe we've already touched on it because we kind of tend to do that once we start talking. It's like you answer all the questions that I was going to ask anyway. What's in the future that you are really excited about? So the, well, in the future is innovation. So when your back is against the wall or when humans in traditionally are faced with it, challenge, we are fundamentally tool creators. We create stuff to assist us with the challenge in front of us, right? So what does that look like? And I've already seen evidence of this. There are going to be
Starting point is 00:28:47 new marketplaces specifically for short-term rentals. They're already popping up who are specializing in certain marketing strategies. There's going to be an evolution of thought around how short-term rentals are actually beneficial to an economy, whereas before BC, before coronavirus. that's what I call it, BC before coronavirus. It was not exactly popular in opinion, right? So, but, hey, you can't hold that same opinion when we step in and keep grandma safe. You can't hold that same opinion when we can step in and keep the first responders safe. And we've housed the nurse that saved your life.
Starting point is 00:29:29 I mean, understand, they didn't have a place to go. Many of the hotels were like, yeah, we're out. We're done. We'll wait until it all comes back and then we'll be here to serve you. So, you know, I hope that the public opinion will improve because it'll be realized exactly the role that we can play. And it's always been there, but now this has come to the table. I also see that individuals will understand, I think they'll finally understand things that you and I have been saying for a long time. In fact, the other day I was in a, was it a mastermind group, and someone, because we were doing introductions, and someone like interrupted in the middle of the introduction for me and they go, you do cash flow?
Starting point is 00:30:16 No one likes cash flow. How do you build a business around the idea of cash flow? That is not sexy at all. I'm like, you're right. It's not until it is. Until it is. Which is right now. And people are, I think, are being woken up to.
Starting point is 00:30:30 piles of cash are great except because we don't know how long this is the best you can hope for with a big pile of cash right now is a war of attrition and if you win
Starting point is 00:30:43 that's called a Pyrick victory meaning you have committed so much of your own resources that you might as well have lost in the first place so learning to build assets and control them you have units of production out there
Starting point is 00:30:57 is going I can't help but see that there's an entire generation of individuals who are learning right now how important it is. And what's even better about it is that because the entire world has been forced to figure out online, so much more efficiency will come to the marketplace along with the innovation that will encourage individuals to not only seek out more information, more ways of doing business. But I have a feeling that we're going to be interconnected, things like your title insurance is going to happen faster because of technology. The speed with which
Starting point is 00:31:41 money moves is going to be absolutely changed because at least from a lot of the rules that I'm beginning to see, they have contactless payments as a part of it, which also means, what does that mean for cash? What does that mean? The actual currency note. So there's going to be innovation there, which ultimately affects real estate. And so I take all of that and I say this. I think we should be preparing mentally emotionally our systems for a liquid market. We've always talked about real estate being an ill liquid asset. Well, that's mostly because transferring title and the funds takes time, a longer length of time than normal. Those two things, as those two things come to the table, because now that people have had to continue to track and Zack business
Starting point is 00:32:37 and figure out how to notarize long distance, how they've had to figure out the check records long distance, and they've had to figure out how to get money somewhere quickly, I can see, I see all three of those things converging to making it very simple for you and I and anyone, for that matter nationally, internationally, to be able to transact something as quote unquote complicated as real estate in an intraday easily. And the world has been forced to confront it,
Starting point is 00:33:09 which is a good thing, I think, and ultimately it results in if you're still used to the market, real estate market's moving slow. I think it's time for you to get your systems in place to get prepared or to move faster and faster and faster and faster, including learning short-term rentals because your long-term tenants will turn into, I only want to pay for it when I'm going to use it, just like everything else.
Starting point is 00:33:40 Yeah, it's the society or the culture that we're certainly shifting into. It's probably accelerated a whole lot, right? You know what is funny is? I think it's going to actually be normal now for people to walk around doing selfies and vlogging all day long. Like no one's going to like question it. You know, they're just going to know. Like, oh, I know what you're doing.
Starting point is 00:34:01 Yeah. I mean, with someone just talking into their video camera is like, it doesn't even turn ahead anymore. You know, you used to be concerned like, oh, my God, they're going to, people are going to walk by and listen to what I'm saying and they don't give a darn. They're going to wait until you're done. I'm sorry, what's your handle? Oh, okay, cool.
Starting point is 00:34:17 Great. Thanks. Right. Right. I'm just going to move on because it's normal. And then you've got, you know, individuals like my children, my 12-year-old, 24-year-old, all of them, they're going to find more creative in different ways to live closer to their values and leveraging technology in the process.
Starting point is 00:34:38 You know, they're not going to want to go to an office to work. Why would I do that? Yeah. So, you know, which is another way of me saying, for those of you who are office, investors, I'm sorry. It's going to be challenging for you for a while, right? Office and maybe even retail and the small commercial strip centers, I don't know what transformation those are about to undergo, but it's going to be chaos for a minute because, you know, there are just some things that will not make it through an evolution. They just
Starting point is 00:35:15 won't. And I think those are some of the real estate plays that just won't make it. People won't need to go to an office because Adobe has been forced to learn how to make what they do work in a distributed environment. Yep. Things are definitely changing. It was funny what you had said, I got to wrap this up in a sec, but you had said, the person said, what, cash flow, how do you make cash flow? Cash flow isn't sexy, right? And I've been saying that for so long, I got tired of saying it because I just kept losing out to the wholesaling and the cash grab that that has been. I was just like, it's not the most exciting path to financial freedom, but it is the fastest. And then that makes it exciting.
Starting point is 00:36:03 So you need to rethink what exciting is. But anyway, Jay, it's been a pleasure. Let's do this again. If someone wanted to reach out to you, what would be the best way for them to do that? you type in cash flow diary one word into google everything that comes up is is us so you'll find us we have a podcast uh cashflow diary podcast.com we're on youtube right now especially because of everything that's going on we have been doing uh live streams five days a week and or sorry six days a week and we're going to continue doing that because i want to be there to support entrepreneurs help
Starting point is 00:36:40 them understand cash flow and why they need to go out there and make that type of stuff happen. And yeah, we're just here to support and help more people become the entrepreneurs that I know is inside them because, again, there's nothing in my background that says I should be doing what I'm doing right now. I just, you know, I had a need and we solved it with cash flow. Like a good entrepreneur should. Right? No doubt. No doubt.
Starting point is 00:37:10 All right, bud. It's been a pleasure. We'll do it again. Absolutely. All righty. So if you found this episode valuable, there's a good chance. You probably know someone else who would too. So if you think about it, if their name comes to mind, feel free to share it with them, ask them to click the subscribe button when they get here and I'll take great care of them. All righty. That's it for today. God loves you. So do I. Peace, health, blessings and success to you. I'm Matt Terrio. Live in the dream. the cash flow. Yeah, yeah, we got the cash flow.
Starting point is 00:37:44 We didn't know home for us. We got the cash flow. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.

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