The Chris Voss Show - The Chris Voss Show Podcast – Dusten Hendrickson: The Passive Income Revolution: Investing in Real Estate Syndication

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Starting point is 00:00:28 Because you're about to go on a monster education role. rollercoaster with your brain. Now, here's your host, Chris Voss. The most of Voss here from the Christmas show. Don. Ladies, young, and the only season that makes it official. Welcome to 16 years, 2,800 episodes of Chris Vodge show. We're the oldest living broadcasts still,

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Starting point is 00:01:08 and do not necessarily reflect the opinions of the host or the Chris Foss show. Some guests of the show may be advertising on the podcast, but it's not an endorsement or review of any kind. Today we're an amazing young man. We're going to be talking about his insights, his experience, and all of that good stuff. And we're going to get into it as well. Talking about real estate and what's going on.

Starting point is 00:01:24 Dustin Hendrickson brings over 20 years and $500 million plus of experience in real estate development, design, construction, and syndication. He specializes in strategic land selection, wellness-focused design and leading projects from concept through completion. He focuses on delivering strong investor outcomes while addressing the affordable housing crisis. Welcome to show, Dustin. How are you? Hey, thanks for having me, Chris. I'm doing fantastic. At intro, I can't stop smiling. That's pretty cool. I've never had that on a podcast. I do about two podcasts a week, and that was awesome. Yeah, I can't stand to go on most podcasts in the interview. It's the amateurness of some of the shows

Starting point is 00:02:07 are amazing. Now, the name of your company is mailbox money real estate. Is that correct? Yes. So give us a dot-com's websites. Where do you want people to find out about you on the interwebs? Mailboxmoney.R.E.com is our main website, and we have all our links and our handles. We have all the social media channels. LinkedIn is where you'll get to know me the most. I post about my family, but there's a lot of education, entertainment stuff on there as well. And Dustin, D-U-S-T-E-N-Hendrickson at LinkedIn. So give us a 30,000 overview, what you guys do there? We simply, we build apartments, very desirable wellness-designed, modern workforce housing apartments. So we try to build the most desirable apartment for the young professional, just coming out of college.

Starting point is 00:02:56 They care about their looks. They want to have an Instagramable place to live. They don't need all the bells and whistles. They don't need to live downtown. And we can provide them a very similar apartment as the Class A flats downtown for about half the price. Wow. How long have you guys been doing this?

Starting point is 00:03:13 I've been building apartments since 2003 for a very similar demographic. And what turned you on to this? What was the proponent that made you go, hey, this sounds like a good business opportunity? Efficiency. I've always had this knack for efficiency. My mom's been very efficient, frugal. She always liked to save money. And she taught me how to design houses in the first place.

Starting point is 00:03:37 And I just took those house designs and eventually started building apartments because I like the density of apartments. I like the more urban living style of apartments. You know, it's funny. somebody was complaining the other day on social media somewhere, big surprise. And they were complaining about, it seems that's all social media is for it. These days, just people complaining, being victims or playing victim. But they were saying, you know, everybody in America deserves a house. And I'm like, not really, you know, we don't need to, not everyone needs to buy a house.

Starting point is 00:04:09 You know, I've been single all my life. I have to have a house because I have two huskies and they have a lot of energy and they need a lot of room to run. So I have to have a yard. But I'm a single guy. largely a house is just a waste for me. It's like a giant storage unit. You know, and just it's a waste. I don't have kids.

Starting point is 00:04:27 I don't have a wife. You know, I just can't afford the divorces. I got engaged twice, but I was like, I don't have $2 million for the divorce, so I won't get married. That's a joke. No, it's not. Anyway, the, but a lot of people don't need a house. When you're starting out, you know, I was a kid living in apartments.

Starting point is 00:04:45 And, you know, they're cheaper than a home. they're easy to maintain than a home. You know, if something breaks down, you know, the one thing I learned when I bought my first home was what a money pit stands for. Absolutely. Yeah, it was always like the refrigerator is broken. You didn't have a landlord. You could call it anymore or apartment community manager.

Starting point is 00:05:06 And, yeah. Now, you've built, give us a load out. I think I saw on the website some of the stats of some of the extent of what your guys' success has been in the market community. I don't know if you can rattle off those stats off top of your head if you have them. Yeah, we have over 500 million in real estate transactions. A majority of that is in development. We've developed all across the Midwest, North Dakota, South Dakota, Minnesota, Iowa, Kansas, a little bit in Nebraska.

Starting point is 00:05:37 And then we bested a lot across the southeast, Atlanta, Florida, Phoenix areas. So, Texas. And so we've just been in a lot. a lot of different markets with learning how to syndicate deals, learning how to do value ad deals. And it just came down to it that I add the most value when I design and develop brand new apartments. And the Midwest seems to be the best for me. I understand the culture of the best here because I'm from here. And so it's our, our success has been, we just scaled our success here in the Midwest. And now we build 500 to 1,000 apartment units per year. And we're, we finally found

Starting point is 00:06:17 an optimal plan that works really well. And we almost every city that has an affordable housing need or a workforce housing need or an attainable housing need, they want our product. And so we approach the municipalities where they find us a little bit of land and then we, we can just go from there. And it's all sustainable. We don't rely on government funds. And that's why it's very scalable. Yeah. Over 20 years of experience, more than 500 million real estate developed, 1,029 completed units since 2021. That might be the way you guys are moving, that might be different. Yeah, no, it's probably, it's probably 1,300 already.

Starting point is 00:06:57 Oh, really? Yeah, we introduced about 50 to 100 units a month. Yeah, I have the same problem on my website, my email signature. We can never keep up with how many episodes the Chris Fosho has and how many years it's been doing it. So I'll leave it there. And then a couple years later, I'll be like, it's been more than that. 32 units in a construction as as your latest website update here future units 940 under contract so you guys are busy yeah we're very very busy yeah now why do you like the the center of the country there's there's a huge vast lands of you know developable places there yes we like it because there's the infrastructure can allow to do a lot more building and

Starting point is 00:07:42 We're just kind of from here. We feel that the migration is coming inward. It's kind of the American. I think it still has that little bit of Americana to it. Yeah. And it's steady. So it's a lot steadier. What we've experienced buying real estate in all the bigger, larger markets is it goes

Starting point is 00:07:59 up and down a lot more. It gets saturated. There's a lot more competition. And so we target markets that are less saturated. They're less competitive. And we, it's a lot easier. It's just rinse and repeat. And it's more.

Starting point is 00:08:12 but just a steady lineup. Doing business on a steady trajectory is a lot easier than when you go up and down all the time. Do COVID help you guys out a little bit? Because I know a lot of people, you know, they've been moving to the big cities before COVID. And they're like, yeah, maybe a big city is not the place to be in a pandemic. And then now you've got, you know, housing's got really expensive the last few years. There's probably a lot of people that are headed towards the Midwest and kind of more places where maybe they feel a little more connected to community than You know, I mean, I've stayed in hotels and I don't know how people sleep in New York with all those sirens and horn pops, horns blasting and stuff.

Starting point is 00:08:52 I don't know how they deal with it. Yeah. I think when you get used to that, if you're an urbanite, you get used to it and you can't sleep otherwise. I'm with you. I'd rather have a fan buzzing and the nature going than a bunch of horns. But it has helped us, yes. And a lot of people are moving to less populated areas and we're causing. of living is lower. And COVID just accelerated the face-to-face gap. You don't have to be in New York

Starting point is 00:09:19 City to do a deal anymore. You can just get online. It's very normal now to just do all your meetings online. Obviously, face-to-face is a little bit better, but we've become very digital over the past five years. And the cost of living is so much lower in the Midwest that that's attracting people to the Midwest. But specifically it helped us in the suburbs. People don't want to live as much in the urban areas they want to live more in suburban location. So there was a urban migration. Everyone was going to live downtown. And then after COVID,

Starting point is 00:09:48 now people are going back out to the suburbs. That's kind of what I see. Yeah. And it makes sense. I mean, it's fun to live in the city. But, you know, I've lived in L.A.

Starting point is 00:09:58 I love California. I was born and raised there. But, boy, that smog and that traffic. Oh, I mean, that's the one reason I left L.A. is the traffic.

Starting point is 00:10:08 You know, your whole life revolves around. You know, you want to go to the store that's five blocks away. And you're like, what time is it? It's a parking lot out there. No, I'm not going to the store. You know, I remember when I moved back to Vegas for, I don't know, two or three months. Every time I want to leave the house, my brain would go, what time is it? What's on the 405?

Starting point is 00:10:27 Oh, wait, wait, I live in Vegas now. I don't. I can just go anywhere I want most times. And, yeah, the urban sprawl and everything else. And probably some of those communities are probably easier to build. And for you guys, you know, California is highly regulated with almost overly so, places like San Francisco, New York. You know, I remember Bill Maher was complaining about how it took him seven years

Starting point is 00:10:51 just to put a little solar system up back in the back of his yard or something like that and get all the approvals for it. So it's probably a whole lot easier and maybe less expensive to build in those center regions of the country. Yeah, there's just more freedom, you know. And there's less options, too. You have to be more resilient or more resilient, more, you've got to depend on yourself. There's not as many restaurants, so you have to learn how to cook, different things like that. But you don't have to worry about traffic.

Starting point is 00:11:19 So I know in the big cities, you might waste two hours of your day. You got 16 hours, two hours your days wasting traffic. The market's where we're at, there's no time wasted in traffic. It's literally zero. Yeah. You look at the quality of your life, and I think a lot of people did with, COVID and maybe before COVID and they you look at the quality of your life and you're like to sitting in a car you know LA's notorious for this to it could be two to four hours to drive something

Starting point is 00:11:45 that a bird can fly in 30 minutes because everything's a parking lot and and it's worse if there's a crash or some other crap going on construction and you know you're like I'm spending I have 24 hours a day and time is the one thing we can as humans get more of but you're spending four hours a day of 24 hours and you sleep for eight, so there's 12 hours of your day gone. So you have 12 hours to work with, try and spend with your family. Oh, and then you've got eight hours that you spend on going to work, I guess. You know, if you're at work, you get an eight hour day. So then you have four hours left for everybody else at the end of the day between, you know, the four hours of lost for driving. Now, what is your offer? Because what you're looking for is investors who want

Starting point is 00:12:26 to invest, I believe, into the real estate that you're building. Is that correct? Yeah. So what we do is we help people invest in passive real estate. So if you want to invest in real estate, but you don't want to take the liability of signing on the loan, or if you want to invest in real estate and own real estate, but you don't want to do any of the day-to-day work. So it's like a, it's like a reet, except for a reet is more like a stock where it's watered down and there's lots of fees and there's lots of middlemen. Your direct ownership to the property. So you put your money in and you own a portion of this one property. So you can, your returns can, be up to 20%. It's about double the returns of a RE. Wow. Now, do you need to be an accredited investor or can any

Starting point is 00:13:09 investor participate? Yeah, you need to be an accredited investor because it's a 506C because we talk about it on shows like this and we advertise. So it's got it as a 506C. So we're SCC compliant have to be an accredited investor, which means you have to make 200,000 a year if you're single for three years. Or if you're married, you've got to make 300,000 a year for three years or into the future. And then, Or else you just have to have a million dollars net worth, not including your personal residence. Yeah. And so, you know, these are really important. So most accredited investors, they usually have a higher awareness of what they're doing.

Starting point is 00:13:45 Or maybe they've proven that they can kind of deal with ups and downs, maybe. Yeah. I mean, if you're investing in these things, you should be ready to put the money away for five to ten years. So you should never invest in any of this stuff with money that you need for liquidity. This is just long-term invest in real estate, get the tax advantages. It's for high net worth individuals, for sure. Now, does it need to have a minimum net worth to get them with you? I think you may have mentioned it.

Starting point is 00:14:13 To be accredited, you don't have to have a minimum net worth. You just have to have at least a high income. You do not have to have a minimum net worth, but we just tell everyone, make sure you don't need this 50,000 for at least the next five years minimum. And you guys focus on passive return on real estate, correct? Correct. We do all the work. We sign for all the debt.

Starting point is 00:14:31 We do everything. We operate it. We hire the property managers. All you have to do is read the monthly report. And you don't even really have to do that. You just have to make sure the money's getting sent into your account. Now, can they invest more or less, or is there a set amount that they could like put? They can invest up to 20% of the property.

Starting point is 00:14:49 If you invest more than 20%, or not the property, the equity. So we have, if a $5 million equity, say we need a $15 million project, $5 million's equity, 10 million's debt, they can invest up to a million dollars. If they invest more than that, then the bank likes to underwrite them, they become a larger part of the project. So you can invest more, but then it takes away some of the strategy. Yeah. And now, when they invest in with you guys, are they investing in all of your properties or they're just investing in one? I just want to clarify that. We have both options. Oh, really? So we have a fund so you can invest in our fund and we can put the money, we can scatter the money, and you can diversify into many different

Starting point is 00:15:31 options, or you can just go into one said property. Now, I imagine that in the, in the center of America, I mean, there's a lot of opportunity for growth there, right, as people are moving out of the big cities, you know, and I mean, there's a lot of people that were just like, I don't want to be in another big city when there's another pandemic that comes rolling through, you know, some sort of other crisis, 9-11, you know, there's all sorts of things that can happen in a big City. And, you know, we're kind of seeing with now, I was just reading this morning with, you know, the drone wars that have taken over tanks and planes and all the stuff that we have. And in the Iran War, there's kind of a thing where people are getting concerned about, you know, you can use

Starting point is 00:16:13 these on businesses, data centers, these attack terrorist drones. You can drive into buildings. You can do a lot of different things with them. And so it's kind of might turn some urban centers into some dangerous spots that we're going to start watching out for drones. But in the middle of the country, there's a lot of growth. There's a lot of people moving there. There's a lot of probably optimization for appreciation, maybe. Yeah, it's just very steady growth. And like I said, the middle of the country is just is safer.

Starting point is 00:16:40 You know, you're not dealing with as much of the climate crisis and different things that you are on the coast. And there's just more space, more open area, more freedom. It's just a different way of a little bit different way of life. And so some people like it. So they're moving here. Some people move out of the, you know, into the. urban areas, but it's definitely more protected here and there's less ups and downs, and it's just an easier, simpler lifestyle. Yeah. Yeah, and some people like that too. I mean, they like the

Starting point is 00:17:08 land. I think in, I'm not too familiar with North Dakota and South Dakota, but I believe there's maybe some good hunting that's up there. There's good, you know, you can go out and work to land. You know, people like that here in Utah. They like to go out the sand dunes and play. They like to go in the mountains and play. And, you know, they like that environment of, you know, they go skiing here. Can you ski in, I mentioned North Dakota. Yeah. skiing, maybe?

Starting point is 00:17:32 West side of South Dakota actually has the best skiing because it has the Black Hills. And so in the Black Hills, they have the UTVs. Very similar to the Sand Dunes. They're driving all those UTVs and different four-wheelers and type vehicles all around. Then there's the skiing and the snowmobile and there's all that tourism, Mount Rushmore's there. So it's really cool place for tourism. East side of the state is more business farming, hunting, lots of hunting on the east side of the state.

Starting point is 00:18:00 What about Kansas? Kansas got any skiing up in the mountains? No, I don't think there's a single mountain in Kansas. That place is that we RV a lot. Kansas, I think, is one of the most dull places to drive through in the whole nation. We're getting shots fired at us by the Kansas sites, all five of them that listen to the show. The Kansas is a wonderful place. I'm sure they're getting the chiefs now.

Starting point is 00:18:25 The chiefs are moving over there. Is that true? I think so. I think that are they? The Kansas City Chiefs. The Kansas. That's kind of wild. But yeah, I don't know.

Starting point is 00:18:36 I'm a Raiders fan. So I have emotional issues with the Chiefs. I don't think they're ever going to be resolved anytime soon. Maybe you're getting the number one pick. You know, he's a stud in the in college. Yeah. I hope so. Last time we got a number one pick, we really...

Starting point is 00:18:53 Was that Jim Marcus? Yeah, that was a $100 million blowout. I think that guy was sipping way too much lean. Yeah, he was something. But I don't know. Sometimes I wonder, it could be the owners or the problem. I don't know. Anyway, it's hard to be a Raiders fan, but I don't know.

Starting point is 00:19:10 But maybe if the chief swimming to Kansas, it'll give us a leg up. What I'm going to ask you about what you guys do for investors and how your company works, maybe that we are important for people to know to find out more about you. So we are at www.w.mailbox bunnyr.com. And how we work is we acquire the land that's already zoned, so it takes the risk out. You invest your equity.

Starting point is 00:19:36 We pair that up with the debt from the bank. You are not liable for any of the note. You don't have to do any of the work. We start construction on the project. Within nine months, the first, within nine months, the breaking ground the first building's up and being rented people are moving into that building one to two months after each building is is leased another one's completed so each one to two months another building comes online by the time all the buildings are built they're all leased up

Starting point is 00:20:05 construction company pulls out that's in year two to three year two to three is when your distribution start you start getting your cash distributions we look at a refinance around year three year three to four is when we try to refinance it, and then we put it up for sale anywhere from year five to year 10. And then if it sells, you can 1031 exchange, keep all your tax depreciation of benefits, move to the next one, snowball grows. You keep all your tax benefits. A lot of high income earners that are paying 50% in tax, they use these to get their tax

Starting point is 00:20:38 down to closer to zero. Yeah. It's a very familiar strategy in real estate. and why is passive income? Say I'm out there. I'm listening to the show. And I'm thinking, you know, I got some money that I could, I get accredited, you know, I could use sports investing in this in real estate for passive income.

Starting point is 00:20:56 Or, you know, I could go invest in, I don't know, Bitcoin or the stock market or, you know, my brother's a crazy business that he wants to start where he's going to make zippers out of dust or something. Yeah. Yeah. So the business idea, it could hit it big. The zippers out of dust might get. huge and you might you might you know quintuple your money more than likely you're going to lose it all though and so startup businesses they're very risky you can make a lot of money they're

Starting point is 00:21:24 usually slow to make money and they usually lose all your money but you can go hit it huge yeah i mean i mean who would think that zippers would crumble if they're made of dust yeah i don't know normally they're made out to steal but and so anyway you can you can invest in that stuff you can invest in Bitcoin, it goes up and down, up and down. Real estate is just a slow, steady, and highly tax advantage. There's three things that you get tax advantages from investing in. Energy, food, housing. Invest in those three, and you'll get tax benefits. Real estate, all wealth flows to real estate. So eventually, if you build wealth, you have to put it in real estate because it's, it's really the only passive thing. This is why 90, over 90 percent of millionaires own real estate.

Starting point is 00:22:09 it just all wealth flows to it eventually. I didn't know 90% that's interesting. Yeah, with stocks, it's you have to continually pick new horses to ride all the time. You've got to stay on top of it or you put it in a fund. There's lots of fees. You make about 10% in stock market. You make about 20% in the real estate market if you invest in the right areas. If you invest with the right partner.

Starting point is 00:22:35 And the passive part of it, you can go take your money and you can go buy a house or a duplex and you can do all the work. If you want to start that as your second career, go ahead. But it's a lot more work than people realize. It's not that great of a time right now to go and do that, honestly. It was really good 10 years ago. But it's still a second career. But if you want to do a second career, go buy a single family house or a duplex,

Starting point is 00:22:58 build it, fix it up, rent it, do all the things, take the liability, take the risk, do the work. But your goal should be eventually you want to move into that as your second career. If you have an amazing job, you make tons of money and you just want to own real estate and reduce your taxes, come invest with us. We've been doing it forever. And our returns that you're going to get are going to be very similar as what you're going to get if you go and do the work yourself. And you kind of have more maintenance of control. You know, in the stock market, you don't have a lot of control over stuff.

Starting point is 00:23:28 It can go up and down. It can swing wildly on rumors and rumors and rumors or rumors and rumors and are I doing like a novel. Anyway. That sounds like the Bible, actually. There'll be rumors. Was that for the Bible? Yeah, yeah, it was. I wasn't sure if it was.

Starting point is 00:23:44 Revelation. Is it from Revelations there? I wasn't sure if I was doing that or the other book where it was the worst of times. It was the best of times. You know, I forget the name of that, John. But, you know, yeah, with business, you know, I've been entrepreneur all my life since 18. 99% of so businesses fail in the first two years. It has a high failure rate.

Starting point is 00:24:03 You know, it has a high learning curve. of any sort of thing. You've got to master it, you know, 10,000 hours. Maybe if you follow that sort of mastery intelligence, but, you know, it's constantly problem solving and it's a lot of work to be an entrepreneur. And you guys making, I don't know if I would, would you officially call this like a turnkey sort of investment. Yeah. Yeah, fairly easy. And you guys are handing all that 10,000, 100,000, probably million hours you guys have put into work so far in 20 years. You guys are handing all that for me. So I don't have to learn how to build a real estate thing. I don't have to learn what the codes are in a local, in a locale. I don't have to do any of that, especially if I was

Starting point is 00:24:45 even just trying to invest in real estate myself. You know, that's a whole learning curve that I've actually had people on the show like you before that have come on and said, yeah, I tried doing the just personal investing in homes. And it was like, yeah, that's, that took too much work. And it's better to pay the professionals to do it and manage it. And, you know, if you're the money, you tend to get well paid. Yeah. And if you think about it, the professionals that we hire are top tier. We have thousands of units. So everyone wants to come and work for us. If you have a house or a duplex, you're not getting the top property manager. You can't afford to pay the top attorneys. You're not paying the top CPAs. So we get all the professionals that are the best of

Starting point is 00:25:29 their trades. We have access to them. And we have over 20 years of building connections in this real estate space. So we know who's done it. We've already made all the mistakes, too. You know, that's why we've, I started with duplexes, made tons of mistakes. I built my first duplex and we had to redo most things multiple times to get it right. We've had all that. We've done everything, asset management, property management.

Starting point is 00:25:54 We did our own taxes. We got our own loans. So we're familiar with every process. And now we know how to hire the professionals because of that. Yeah, that's why you do that, folks, because, man, I tell you, it gets tired of starting a new business and learning. I mean, you guys have got it down after 20 years, I'm sure. There's always new things that come up, but that's the other thing, you know, every day it's just problem solving when you're an entrepreneur.

Starting point is 00:26:16 So pass the real estate's really nice because all that brain damage, someone else has to deal with. Yeah, you just have to choose the location you want to invest in and make the decision. So people can choose location. They can choose. Now, is it individual properties or the full portfolio or can I invest in Lake South Dakota? Yeah, so you could invest in the portfolio and you can say I want, I'm going to invest $500 in the fund and I want $50 to go to this deal, $50 to go to this deal, $100 to go to that

Starting point is 00:26:47 deal. So you can select all of them in South Dakota. Deals that are already full and closed, we can't invest into those. But any deal that's coming up going forward, you can invest in a myriad of those deals. Now, I see in your website, there's a podcast tab. Do you guys have a podcast? I think you sponsor one at the very least. Yeah, it's called Grit to Growth. And the investor of Director Relations for mailbox money does it.

Starting point is 00:27:10 And he interviews business owners on it. Great way to find out how business works and everything else. The Grit to Growth podcast. Yes, grit to growth. Talking to people and business owners and stuff. you know, it's a great lesson to learn. And it's kind of, are you guys based in South Dakota? Yep.

Starting point is 00:27:32 Yeah. Based in Sioux Falls, South Dakota. Is that the Paul Bunyan State or is it North Dakota? That's Minnesota. Minnesota. Yeah. Jeez. Well, we have real estate offerings there, too.

Starting point is 00:27:44 I'm thinking of Fargo all of a sudden, the movie. Oh, yeah. Yeah. That's a great movie. The TV show is good, too. Is it? I didn't see the TV show, but I'm a big, was it? Was it the Cohen brother?

Starting point is 00:27:55 Yeah, I swear that they did the TV show too. Did they really? The TV show is maybe better than the movie. The episode that features South Dakota in Fargo, the series, is incredible. All right. I'm going to go check it out because I'm a big Cohen Brothers fan. And I love the Cohen brothers. And I imagine they sanctioned at the very least.

Starting point is 00:28:19 It was it Joel and Ethan Cohen. Yeah. Yeah, I'll check it out. That movie was unsettling. I always love the accents of the folks up there. Oh, yeah, because Fargo has a different, or when they're in Fargo has a different accent, Minnesota has a different accent, and South Dakota has a different accent. So they go in all those different locations on the TV show as well.

Starting point is 00:28:39 It's a great series. And the people in Middle America are so nice, too. I mean, you go to L.A. or New York, you know, people are pretty rude and Kurt and short with you and stuff. But in Mill America, they're really nice. It's kind of like going back to, you know, the America I grew up in. where people just go to each other. Yeah, they call it Minnesota Nice. But what's funny, what I've noticed, though, is if I go to these places and I am a Midwestern nice or Minnesota Nice, I get really good reception and people seem to slow down and have a little more time for you.

Starting point is 00:29:12 Yeah. You're not from New York City. No. Salsa commercial. City Slickers. Yeah, City Slickers there too. Anything more you want people to know about you guys before we go out? No, I mean, I think you covered it really well on a high level.

Starting point is 00:29:27 I appreciate you having me on. Yeah, I've done one or two of these podcasts. I'm getting up to three, I think, soon. I think you have the oldest podcast still running, don't you? We do, yeah, still running daily. I mean, we do 45 shows a month. Wow. Yeah, and I mean, I think there's still some podcasts around,

Starting point is 00:29:45 but they'll just do one a month or something. And the owners are all dying off is the thing. And I'm saying that at 58, looking at the face down that barrel. but if I can stay alive and keep pumping we'll I mean we'll hit 3,000 episodes sometime this year soon and I'll keep doing this as my life I love it we we help so many people and so many people learn stuff and grow and change and it's crazy and the podcast is is almost become I mean we have people on the podcast that aren't here with us anymore so there's like a memorial kind of and then I like to send the podcast to people sometimes from 20 years back or we it was 18 years

Starting point is 00:30:23 on YouTube and I'll be like, look how young you were when you're appearing because of watching. Yeah, how old you are now. That is cool. And then also their ideas are probably totally different. They've moved on.

Starting point is 00:30:34 Sometimes, yeah. Sometimes people, yeah, that book I wrote last time is bullshit. Here's my new book. Disregard that book. Here's the new one you got to buy. We have all the Tom Cruise or the, what is that?

Starting point is 00:30:45 It's not Tom Cruise, but the Jack Ryan's and everybody. I mean, we do everybody on the show when it comes to podcasting. Pango Random House and Simon Schuster book us. Give people your final pitch out and dot coms as we go out, sir. So mailbox money, re.com.

Starting point is 00:31:02 Mailbox money, a re is in real estate. dot com. Dustin Hendrickson, D-U-S-T-E-N, Hendrickson, and that's on LinkedIn. If you type in Dustin with an EM, the only person's ever spelled it that way, I think. And that's,

Starting point is 00:31:16 LinkedIn's the best place to find me. Our website has everything. I'm also writing a book, though. I'm writing a children's book. book called Investing Simplified for the ADHD brain. And it'll just be, it's a stick figure book because we don't have time to put all the work into the drawings. It's just going to be little snippets of what I've learned so you can read through it in a few minutes.

Starting point is 00:31:40 My autobiography, it was part of it was in Beacon's leadership in my book. But if I ever wrote a full autobiography and did stick figures, it would mostly be the hangman. That sort of thing. I don't like a joke in my head at the time. But no, I think that would be great. I mean, books are such a great way to establish authority. There's such a great way to reach people. And, yeah, I mean, more people need to do this.

Starting point is 00:32:03 I mean, I've had so many people over the years come to me. They go, Chris, I got some money. We had a mortgage company for 20 years of one of our companies, and they would come to me. And, you know, I'd have some math teacher who really didn't have the brain for entrepreneurship because it was very rudimentary. And they're thinking of two plus two always has equal four, which it kind of does.

Starting point is 00:32:21 but in the entrepreneur world, you try and make it equal five. Yeah, get an extra. Innovate, you know, extra. And, you know, I'd be like, you know, you need to do something that's safer because, you know, I don't think you have the skill set for this. And there is a skill set to an entrepreneur in the brain. Mainly it's a lot of ADHD, as you mentioned, and domesticism. Self-induced suffering.

Starting point is 00:32:43 Just misplagliferation in the business sense of the word. But talking about ADHD, too, you know, that's what, as many times turn the CEO disease. CEO disease. And it's led a lot of people's success. Yeah. Absolutely. It is funny, though.

Starting point is 00:33:02 The self-suffering thing is so true. You look at high performers. So if you just go watch the Tyson Fury show, if you watch him, he must suffer. If he doesn't suffer, he's miserable. He has to put himself through an insane amount of suffering. And I think that's how entrepreneurs are. That's why they can never retire. and they tend to always have ADHD as well.

Starting point is 00:33:22 Yeah, it's a CEO's disease. I mean, it's sometimes it's a hard little dragon to try and ride, but if you work at it, you can do it. And sometimes you need some drugs. But thank you very much, Dustin. And I'm talking about Prozac and Zola, folks. But I know some of those entrepreneurs that self-medicate with other ones. So thank you very much, Dustin, for coming to this show.

Starting point is 00:33:41 We certainly appreciate it. Thanks for having me, Chris. Thank you. And thanks to mine for tuning in. Go to Goodreets.com, Fortress, Chris Foster, for the show of your family, friends and relatives, YouTube.com, Fortress, Chris Foss, LinkedIn.com, Fortress, Chris Foss, and Facebook.com,

Starting point is 00:33:56 Fortress, S, Chris Frost, one word. Be good to each other. Stay safe. We'll see you guys next time. You've been listening to the most amazing, intelligent podcast ever made to improve your brain and your life. Warning, consuming too much of the Chris Walsh Show podcast

Starting point is 00:34:10 can lead to people thinking you're smarter, younger, and irresistible sexy. Consume in regularly moderated amounts. Consult a doctor for any resulting brain bleed. All right, Dustin. Great.

The Chris Voss Show - The Chris Voss Show Podcast – Dusten Hendrickson: The Passive Income Revolution: Investing in Real Estate Syndication

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