The Iced Coffee Hour - Meet The Real Estate Investor Making $1.5 Million Per Month | Brandon Turner

Episode Date: December 22, 2021

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Welcome back to the Ice Coffee Hour. My name's Brandon Turner from Bigger Pockets here on the show. And we're going to talk about how this show's made, what, $1.73 from AdSense in the last year and a half. A $1.73. How'd you come up with that number? I mean, I figured it's not like a $2 show, but it's not like a dollar show. So it's somewhere in the middle. $1.73.

Yeah, okay. Well, you're off. Okay. How much did it make so far? $133,000. That's what you've made so far. So you're quite off. About $133,000 off.

Well, I'm a couple decimal points. It's not too bad. It's around in here. Well, thank you so much for coming on. We're really excited to have you here because you are like the real estate house hacking guru. Like you are the mecca when it comes to real estate, owning rental property, house hacking, cash flow, like everything. When people think of it, they think of you generally. And you have 3,000 units so far that you rent out.

Yeah, something like that. Which is insane. Yeah. It's been crazy. And you move to Hawaii. And you're basically just living. it up there. I'm doing a little bit of living it up.

I'm doing some, I got two kids. So you're living it up as much as you can live it up. So I surf. I can pretend to surf. And, you know, do the jogging on the beach kind of thing, trying to live that cliche Hawaii life. That's good. And too bad.

And we also, before, and real quick, are we recording? Yes. Because I never told you to. Oh my gosh. I have done entire interviews where we forgot to hit the report button.

Just always nervous wrecked. I interviewed like a celebrity once. She kept that in there. It was terrible. Like, it was terrible. Who was it? I can't remember. It was somebody that was like a YouTube kind of guy.

And you didn't record. And it was like 30 minutes in. We're like, oh, I'm so sorry. But were they cool with it? Yeah, they were like cool with it.

I can't remember who it was. Did you just redo it? Yeah, we just read it over. Oh, it was Jim Quick. Jim quick, you know him?

He's a famous author. He's like written millions, sold billions of books. But yeah, Jim Quick, brain guy. He's all about brain stuff. Anyway,

yeah, it was like 30 minutes in, we realized we didn't. Like my worst night be there. You know what? I think it is. I think everyone would understand So that if it happened to me, I'd be like, all right.

Well, you know, how would I want to be treated? Just do it again. Yeah, it's that thought of like, also you're like, what do I, like, when I realized it, all of a sudden I was like, oh, no. No, that's the worst feeling. And he's just like talking. I was like, what do I do I tell them? Do I just wing it and be like, try to, I don't know.

So you stop at mid thought? That's the hardest thing. Yeah, yeah. Okay. So it was horrible. Oh, speaking of which, I know we're going off on a tangent here. I had that happened once. With him?

I flew all the way to Detroit. Remember? Oh, yeah. Alex. So I did on my second channel, the Graham Steffin Show, did a reaction to this guy, Alex Pardo. The video got a million views in like a week. And so I flew to Detroit to confront him in person. So the entire show, and it went with me, Kevin on this trip.

So the entire trip was centered around just going for him with this one interview, this one afternoon, recorded the whole video, got back to the hotel room, we're done. It went perfect. And the audio didn't record. The entire time, it was just nothing. And so at 7 p.m. I called him back and I'm like, hey, I'm so sorry, can we do it again? And he was cool with it. He's like, yeah, sure.

So we filmed it again the second time and it was just fine. Yeah. But yeah. It sucks when it happens. Now I'm like, more like back up, backup, back up, back up, like five different things. I'm like, this got to work. And still I've screwed it up. Okay.

Well, anyway. Anyway. We also have some drama to cover that you're no longer going to be with bigger pockets. So we'll save that. We'll save that towards the end. All right. But let's start off from the very beginning. How did you get started?

before owning 3,000 properties. How much does that make, by the way? Do you know every month? Oh, that's a really good question. I mean, if our average, figure average rent around $500, because there are a lot of mobile home parks. Sure. Right, so if you figure, whatever, 500, I'm not a math guy.

500 times 3,000, whatever that is. That's probably what it brings in. I don't know. I want a half a million a month, right? Is that right? I don't know. Sure. I think that sounds like.

Yeah. Yeah. I'd be off by zero or two rounding ears. That's nuts. How did you get started? Yeah. Man, in real estate? Yeah.

So, you know, I was bowling. It all starts with bowling, right? So I was bowling and I'm there with this friend who's a real estate agent. And I said, oh, I'm actually looking for a place to rent. I'm 20 years old at the time. I said, I'm looking for a place to rent. And she goes, why are you going to rent? Just buy something.

I'm like, well, because I'm 20, I have no credit. I have a job making $8 an hour. And like, I don't, I can't buy house. I have no money. She's like, trust me. It's 2007, right? She's like, trust me. We can get you a loan.

Call up the bank, tell them the same thing. I'm like, I got nothing. I mean, nothing. They're like, great, you're approved. Because that's what 2007 was. So anyway, I knew enough to buy, you know, not go by the nicest property in the world because I was making $9 or whatever it was an hour. I bought the dumbiest property I could find.

It was just like a single family house and I bought it for $80,000 and I rented all the bedrooms. And I worked. And that was at the peak of the market. That was. That was like right. Like the bubble was about to pop and you're like, nope, I'm going to get in there right beforehand. But first, we want to thank our sponsor better help. Is there something that's interfering with your happiness or stopping you from being the best overall version of yourself?

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10% off your first month at betterhelp.com slash iced coffee hour thank you so much better help for sponsoring this episode and back to the podcast so it was and you know it's funny though full circle is this picture right so I bought the house live in only for year. Not even that was like nine months and I sold it and I actually bought it for 80. It's like 1 30 and that was like the peak of the market and it's already crashing. That's a great return and then the market crashes. The thing was probably not even worth 90 to the people who bought it and it's like oh boohoo on them right things worth 250 today and they still own it. So like that's one thing I have a real estate is you hold on long enough

you're probably gonna be fine as long as you can hold on. So you you bought it and then you held it for what was it nine months? Yeah but what compelled you to sell it after I'm holding it from nine months. Yeah actually I was like I'm gonna go I was like I want a backpack Europe. That's what it was. I was so lucky. I didn't. It's not that's cool. Okay. It's not that cool. It's not that cool. I was like, I'm going to go backpack Europe. I just had that thought one day just like, I want to go backpack Europe. So I started asking a question, how do I backpack Europe for a year? How do I can do that? And I thought, well, if I sold my house, I could probably do that. I probably get some money out of the house. So I sold the house. Instead, I got married. So it's cool, right? I met my wife and we got married and it's great.

And I went to Europe like two years later. But that's how it started. I sold the house and took the money and had a wedding. What were you doing when you were making $9 an hour? I was working overnight at a group home. So for like developmentally disabled results, so I could sit there and watch like music videos of like punk rock bands all night. That was like my entire job was sit on the couch,

watch music videos and MTV and make sure they go. It was a heyday of MTV. Yeah, that was so good. I was like a follow up boys like era and I was just like listening to follow up videos all day long. All night long. Do you go to college? I did.

I got a history degree. Okay. But it was like one of those like, I went to like five different schools and kind of like at the end. I was like, I got all these credits. Can I get a degree? And they mailed me something. And I don't use it at all. Okay.

So what was your like plan at that point? You said you graduated college. Yeah. And then from there you went to work at the home. Yeah. And then did you have any like long term goals in mind or were you just kind of taking life as it comes? You know, I was in college. I chose a history degree simply because it was the fastest way out of college.

I was like, I talked to the guidance council or whatever when I went when I went to the final school. and I was like, well, I got all these random credits from random things. What can I do with it? And they're like, well, if you know history, you can get out a quarter earlier. Like, yes, I will do that. So I did a history degree, and then there's three jobs you can do with a history degree. There's like, you can be a teacher. You can be a lawyer or you can be homeless.

So, like, I chose the history first, the degree. And then I'm like, I'm going to go and be a lawyer. And then I read John Grisham's book. Can you read The Firm? John Grishman, you ever seen the movie? Yes. Okay, the movie. It's all about, like, this lawyer who's like the mobs after him and all that.

which I mean it's an entertaining story right but what I got from that book was like the idea that like these lawyers work for like 40 years working 90 hours a week and like they go through like four wives and then at the end of their life they just like hate themselves and like that's like the life of a lawyer for a lot of law people and I was like wait what am I doing like that sounds like yeah it makes good money but what's the point of making $200,000 a year if you're working 90 hours a week to get it right so like that that book the firm made me change my mind and decided instead well the This house thing is kind of cool. What if I bought another house and fixed it up and then sold it? So I thought, I'm going to go flip house and start a flip house. You know what the show I loved was flipping Vegas? Yeah, Phligas. I remember that one. What was it?

Scott Yancey, I think was his name. Yeah. That's not on anymore, is it? Nope. Yeah. Those flipping shows don't last too long. No, they don't. Yeah.

There's been a lot of them that just come and go. And they're all the same, but they're all, they're good for inspiration and just like, they're like, oh, I could do that. That's cool. Then I found out I couldn't do it. I was terrible at it. and like trying to flip houses in 08, just terrible. So yeah, so what was your first flip attempt?

Yeah, bought a house for 45,000, and it was just a nasty old house built in like 1902 and put maybe 50 grand into it, so I had like 95 into it, and then tried to sell for 130 and then the market just crashing. I mean, I could have made 25, 30 grand after fees, but the market was just crappy and couldn't sell it. So I ended up refinancing it. So for those who don't know, it's like, you know, go to the bank, get a brand new loan. And so I got a brand new loan out that was like a 30 year mortgage so I didn't have to

worry about paying it off anytime soon. And then it like just rented it out to some dude. He was like a contractor. And all of a sudden I was making more money on rent than what my mortgage and all expenses was. So I was making cash flow. And like it was actually super, I mean, relatively super easy. And I was like, this rental thing is kind of cool. So that's how it kind of started the idea into rentals. What was your job though at the time? Because you had to have income. I didn't have the job actually. So this is, I mean, I had the job. I quit the job. to flip that house, right? So I had no job while I was flipping the house. And then I couldn't refinance. You can't refinance without a job, right? So actually to refinance it, I wouldn't ask my

dad. I was like, I was like, I'm like, I'm like, I'm like, hey, can I just add you on to the mortgage? And just so your name's attached to it. And then we go to the bank and now it's your name on it. And he's like, I don't care. And I was like, I'll give you, you know, someday, I think I said, like, someday I'll give you half the profit when I sell the property whenever we do. He's like, okay, that's fine. And so yeah, we added him on to the property. And then I wouldn't refinanced it. And that idea of like the adding the partners on. I mean,

I've done that now on almost every deal I've ever done. I've done with partners. Because like the big thing with real estate is everyone's like, well, I don't have enough money. I can't afford to do it. I can't, you know,

there's tons of people out there who have money. And they just don't have the time. I mean, they're not sitting here watching a YouTube video or listening to a podcast on finances. Maybe they are. Maybe they are. They probably are. Yeah.

You know, there's people with money. And then there's people who have hustle. Yeah. And if you can put that together, I mean, it's sometimes people who have both, right? But it's rare. Most people either have a job, they're working at the county, they're working out the state, whatever. They're making good money.

They're a lawyer working 200,000 hours a year. But, yeah, so now I do partnerships for almost everything. And what year was this, the flip attempt? Yeah, that would have been 08. I think the first flip was 08. And I decided that flipping, yeah, flipping wasn't really for me. I tried a few more times, never really made any money, lost a little bit of money sometimes. But the rental thing just kept working.

Like, just every rental you buy, I want to start this analogy. Every rental is like a little oil well, right? A little oil well that you, like in Texas, right? You drive through, there's a little oil oil, it's pumping oil out of the ground. Every rental you buy is an oil well. So you have one and you're making $100 a month. It's like, well, that's not very much. Then you buy a duplex and now you're making, you know, two or $300 a month.

Then you buy another little duplex and then you're making $500 a month. And just each one is just pumping oil out of the ground every day, every month, every year. And it adds up. So by the time I was 27, I had like $3,500 a month in cash flow. And I was like, I'm the real. I'm just person. I know. So I quit my,

I got another job at the time just to pay some bills, quit that job and sat on the couch and retired when I was 27. Did you? Yeah, I mean, I literally sat on the couch

and watched TV for like three or four months. Did you like that? No, it was terrible. It was awful. Why? What was bad about that? Yeah, I mean,

daytime TV is terrible. There's just like, I think like, I don't know if it's like, I don't know. So much my life has wrapped up in like my identity of like being a hard worker.

So when all of a sudden you just sit around and do nothing, there just wasn't, fulfilling whatsoever. I think I have this theory that anybody who's able to retire early in life can't retire early in life It's like if you're able if you're smart enough and you are good enough and you work hard enough to retire At a young age you just never take it and and like they have stats that show when people even older people when they retire you can you can predict someone's age of death by when they retire you're you know you retire at whatever 65 you'll die like 75. But you retire at 75 you'll die 85. There's just something that like humans are built to work and built to keep the mind going

Oh my gosh. All right. Well, that's it. Sorry, Bailey. So I want to know the exact events that happened in the timeline to get to like being 27 making $3,500 a month because I'm kind of in the beginning of that journey where I got my first property. And I want to start leveling up and getting more properties and making more like, you know, income doing this. But it seems like it seems very difficult to like get to where you were at 27. How did you do that exactly? Yeah. All right. Let's talk about house hacking. So yeah. All right, so I'll backtrack a little bit. Back in when I did that very first flip, right, I sold the first house where I made a little bit of money and got married, right? Then I needed a place to live because I'm broke. So I flip at the same time, I bought that house to flip, the first one that was a failure. And then I bought a duplex. I didn't know anything about duplexes. I didn't know anything really at the time about rentals.

I just bought, it was a duplex for sale for $80,000. It was two houses on one lot. So they weren't even connected. It was a little yard in between. one of them was a one-bedroom, one-bath, 400-square-foot house. That's what I lived in. They call them casitas in some areas. They call them Ohanas out in Hawaii.

They call them mother-in-law apartments, whatever. So I'm going to sell a one-bedroom, one-bath house, literally like six inches from the alleyway where, like, just people are going through on bicycles and doing drugs and stuff. And then the front house was a two-bedroom, one bath. And again, a little tiny house. But I remember the day, I mean, vividly in my imagination, not imagine, vividly in my head. I remember the tenant in the front unit the first day bringing me rent and he brings me cash like $650. And it totally looks like a drug deal because we're like in the driveway between these two houses and next to an alleyway.

And it gives me the $650. And I'm like holding this. And I remember just like thinking, wait a second. My mortgage is $620. And this is $650. I'm living for free. I'm getting paid to live for free. I'm making $30 a month.

Again, I'm like super rich. Right. At the time, you know, again, I'm like 21 at this point, 22 somewhere in there. And like that was just like this light bulb moment. And I remember thinking also if I had a lot of them, like then that would be cash flow. Is it kind of how it started discovering cash flow. I started then somebody recommended it. Oh, if you're into this, go read Rich Dad, Poor Dad.

So I read Rich Dad Poor Dad. I'm like, yes. Like it's like that book put words to like this like groaning in my soul. Right. It was like I know there's something out there that's not that's not the work 90 hours a week for 40 years just to retire the, you know, and be the richest dead guy, right? Like, there's more to life than that. And rich dad, poor dad was like, this is, here's some words to put to that, why you feel that way. So rich dad poor dad started there. Then I went to the library and I read a hundred books over

a summer, like probably over a hundred, but I remember I stopped counting around 100. 100 books on real estate, just everything I could find on it. And it really just came down to at the time if every house, this was literally my thought at the time. If every property I buy, I could make $100 in profit. And I need roughly three grand to pay. And I need roughly three grand to pay my bills, I just need to collect units. I just need to collect them, so I don't care how I get them. So it started with house hacking. So I bought the duplex, lived in one unit.

Then I went and moved into another duplex and lived in one of the units, rented the other one out. And the great thing about house hacking is the government subsidizes a loan called FHA. You've probably talked about on the show before, but FHA loans are three and a half percent percent down. So if you're going to buy a $100,000 property, you're paying $3,500 bucks. And that can be gifted from a family member. So you could literally like, you know, get into a property for really nothing.

If you're a military person, you get in for zero down. Same thing. So, and again, some people are like, well, $100,000, you can't do that. Okay, fine, $300,000. You're in for $12,000. Like, it's not a ridiculous amount of money to be able to do that. And if you're buying the FHA loan works for duplex or a single family, duplex, triplex, fourplex.

So one of the best strategies in the world I tell new investors all the time is go buy the fourplex. If you can find it or triplex. But if you can live in one of the units, you have to say you're going to live there for a year. You have to intend to live there for you. You live in one unit. You can rent the other ones out. What that does is if you can live for free or even just cheaper, right?

If you can live for cheaper or buy a house with bedrooms, right? Rent the bedrooms out, especially if you're young, dang, like, if you can get rid of that burden of your housing payment, which is the biggest expense anyone has, all of a sudden you have like flexibility and all of a sudden you can set aside money to invest or to build a business. Or you can take a big risk and be like, well, I'm not paying anything to live anyway. I'm living cheap. So I'm going to go and, you know, go take a job at this startup, which is probably going to fail. But if it does do well, I'll make millions.

And so you can take those risks in life, which you can't do when you're just strapped with debt and mortgages and everything. Yeah, people will spend, what's crazy, people will spend so much time and effort worried about how to save four bucks on a latte, right? And there's something about frugality. I'm a big fan, right? I know you talk a lot about that, right? But how often are people thinking, how do I save $1,000 or $2,000 a month on where I live?

Oh, if I just have, like, a duplex, I can drop my money. my mortgage. I can save $1,500 or $1,500 a month just by having a tenant. And yeah, is that easy? Not always, but it's not that hard either. Like, it's just like a stuff you learn. So anyway, house hacking is how really I built up the first like four or five properties was just moving, rent it out, move, rent it out, move, rent it out. And from there, you're getting in a multifamily. And then it gets fun. Yeah. I loved my duplex. I have to say, I loved it. That was so much fun. And I got so into basically tracking just what the mortgage. would be and I'd add in the tax write-offs and then I'd count the equity back and be like technically

now with this and then I'm paying down this mortgage but like $800 I think it was like $800 or $900 a month of that was equity and I'm like every day that's $30.30 a day that's over a dollar an hour. So I'll be like I'll wake up and I'll be like well I just got another $8.00. So I loved it. It's such a great way to get. And it's like it's like real estate investing with training wheels. Right? Because like it's not like super risky. You're not putting that much money into it. You got a long term mortgage that really like it's fixed. It's not going anywhere. It's staying the same. Right. And if something goes wrong, I mean, you're there. Like as I remember like, yeah, like maybe three times a year I'd get a phone call about some problem and I'd have to go fix some leak. I could have called the, you know, contractor, but I just like to tinker and try to fix things myself. So I'd get like the book from Home Depot. It's called like one, two, three home improvement. It's like here's how you fix a plumbing leak. And I'd figure it out just because it was fun. But yeah, that stuff, man. Like it's just character building, but also skill building. And that I still, you know, man, it's, it's still what I love today. Like, I still, I mean, I house hack right now.

I live in Hawaii. I have like a two-ish million dollar house. And, like, I have an extra unit in the back. I rent out. Yeah. And then I have the basement I could rent out if I wanted to. I just keep it for friends and family. But I get at any point rented out and then live for free in a $2 million house

overlooking the ocean in Hawaii. Like this works at any level. I can voucher that. I saw his place. It is a nice. It is nice. Oh, man. You drive up the drive.

way and the house is up at the top and then he's got the pool and then this entire like your office the sea shed yeah the shed yeah and then a property in the back and a huge backyard where they grow oh it's gone vegetables the backyard's gone why yeah we got by a flash flood this week i haven't seen it yet are you serious flash flood came through it's crazy like it took the whole backyard out no garden the tables everything i mean it's gone you know it's funny you were just telling me it never rains I know. It rained 17 inches, I think it was, in like a night. No. It rains three inches a year.

And I'm in the desert, like, basically, like a classified desert. And they got this freak storm. It took my whole, yeah, my wife was at home with the kids. She's calling me. I met like this honky talk bar in like Nashville, a bunch of friends. Having a great time. That's why I lost my voice, right? And she called me.

She's like, the house is going to collapse. And she's like, freaked out. And, yeah, it was messed up. So anyway, I get to go back home here in a few days. And apparently I have no backyard. But insurance would cover? Why? Because no flood insurance?

I mean, why would I get flood insurance? I'm on a hill and I'm on a hill in the desert. Like there's no reason for me I would ever thought to get flood insurance. Now that's said, I mean, what's 10, 15, 20 grand to fix it up? It's not the end of the world. More than that. I don't think so. I mean like excavation of all the mud and stuff like that.

Yeah, but I got, say, I got some contractors that like live out there that work for me. So like they just like for the first, I mean, they've been out there for a week every day now. So I mean, I'll probably be in for 15, 20 grand. And it's like, I'll survive. It's not the end of the world, right? Yeah, it's not terrible. And things like that scare people. When I talk about this, people are like, oh, that's why I don't want to get into real estate, right?

I'm like, it's just, it's like, what's that quote? If you have a problem that can be solved by money and you have money, you don't have a problem. And so it's easy to get overwhelmed by that stuff and be like, oh, man, it's a, you're like, no, you just write a check. Like, it's not a big deal. Speaking of that, I'll take a screenshot of this. This is a repair. So I've gone a little while without a repair, and this came up. I'll show you a picture of this.

So this was part, well, not partly my fault. I was an idiot. Is that the mainline? Yeah. Hey, mainline brothers. Yeah. Nice. That's great.

So you're looking at, I think it was $7,800. Yeah. So let me tell you, this was my mistake. I had an issue a year ago. And they basically said, for two grand, we can make this work. It'll fix it. It's not going to be a permanent solution, but this could last to a year. It could last to 10 years.

It's just, it's a pipe from the 1950s. So they're like, you know, we're going to do it quick. And I think they quoted me at the time like $10,000 to fix it the right way. So I figured, I'm just going to pay the two grand and problem solved. Yeah. Exactly a year later when he was telling me, it could last you know, but a year later. And then they ended up refixing what I fixed a year ago because it's like it's easier for us to do the entire thing all at once, then keep their work.

Explain what happened. You didn't say that. Oh, yeah. So what happened was basically the pipe was really old. It was, I think it was a ceramic or something from the 1950s. Over time, roots got into it. So they've been hydrojetting it. But I didn't hydrojet for a little while.

And it cracked the pipe. And then over time the pipe kind of shifted. And water basically started backing up. That sounds fun. But it's one of those things, right? If you have a problem and you have money, they can solve it, then you don't really have a problem. It sucks, especially when you have a rental that, like, you rely on it to bring in money.

But here's the thing. This is probably like the, if I get like one tip for anybody who wants to get into real estate, it's this. Like, know that that stuff does happen. And it happens all the time. It's not like a shock. It's not like, oh my gosh, I can't believe that, you know, of course, everything breaks down. So if you account for it, like, then you're fine. I mean, for example, like, what I mean by that is like, let's say you buy a property.

And you're like, this thing is going to rent out for $1,000 a month. my mortgage is going to be $800 a month. Wow, I'm making $200 a month in profit. No, you're not. I would set aside at least $100, if not $200, every single month for that. Because it only happens once every couple years, but it does happen.

And then you're only two, three years from now. You're going to have a roof leak, and that's going to be $3,000 to fix it. Your water is going to go out in five years. It's put a new one of those in. It happens all the time. We call that CAPEX. It is a real number.

It doesn't happen monthly, and so people forget about it. And so they buy property thinking it's going to make them money and then in the reality just loses them money now thankfully we say real estate is a forgiving asset class i'm a buddy david who's on the podcast the bigger pockets podcast with me he calls he says cash flow is a defensive metric it's not designed cash flow is not designed to make you rich it's designed to help you hold on long enough like riding a bronco you know or a bull you know if you're in a row you got to hold on like it's like duct taping your legs to the bull right like you're not

going to fall off if you have cash flow because you can handle things like that but when you really want is to hang on long enough that 10 years later, that property's gone up and value. Because yeah, real estate goes up and down, but it goes up and down an upward trend. And so, like I said, that house that I sold at 1.30, dropped to under 100. Now it's worth two something. Like, it's just, it's the way real estate tends to work, especially when the government's printing as much money is there. So if you can hang on long enough, real estate is phenomenal. And then the cash flow is good in the meantime, too. I don't think we ever mentioned where exactly you were buying initially. Yeah. Oh, actually, yeah. So this actually plays into my story a little bit. This is cool. So that very first duplex, right? I lived in the alleyway, right, that little crappy house and had the tenant there. This is in Aberdeen, Washington. So Aberdeen, Washington, technically Hoquem, Washington, but it's at Grays Harbor County, Washington, which is famous only for one thing. So Grace Harbor is famous because that's where Nirvana came out of. So I remember Kirk Cobain, Nirvana, that whole thing, came out of Aberdeen. So anyway, so my house there, this little crappy duplex.

After about a year of owning it, the tenants were like, hey, people keep taking pictures of her house. And I was like, what do you mean taking pictures of the house? Yeah, we just keep seeing flashes through windows. And I was like, yeah, the county must be reappraising or something, right? And then it went several years. The tenant would be like, yeah, more people taking pictures. Couldn't figure it out for a while. Finally, we learned what it was when some Swedish tourists knocked on the door and they wanted a tour of the Cobain house.

No way. And we're like, the Cobain house. And we find out, and I look it up online and I find out it was the house he was born in, like, on his birth certificate. Like not literally on the floor, but like that's his parents where his parents were in both houses. They lived in this little shack in the back where I lived when he was born. And then at six months old, they moved into the front house. And they lived in that one. I'm the only person who owns two of Kurt Cobain's former houses.

You still own it. I actually just sold that a few months ago. No. No. I know. I know. Seriously. If you can afford to hold on to that, I know, that's a piece of history.

I know. It was cool. And I loved it. I had it for 15 years. It was cool. But the bragging rights, the cool story that it's, It's fun to tell, right? It's a cool story.

It wasn't worth just the mental headache of hanging on to that property. What's the headache of holding a living? It was in a crappy neighborhood. Like, it was in an alleyway. I mean, it's so? Like, it just attracted, like, rough tenants. Like, I was like to say, like, rough houses attract rough tenants. And so, like, nasty properties, they attract nasty people.

It just is what it is. Do they know? Do the tenants know this is Kurt Cobain's house? We tell the tenant after they move in, but I don't want to advertise it because I don't want the kind of person who would rent a house because it's Kirk Cobain. I would. I don't think I would. I don't know.

Seriously, if I mean, I don't know the area. Yeah, you'd be able to charge higher rent. Yeah, you'd be able to charge higher rent. But, and you would attract a better tenant who could, see, here's the thing. I think it was a marketing problem because you're marketing this is a normal house. I agree. And that would attract those sort of tenants. You market this as Kirk Cobain's house.

You're in, what was it, realist.com. You get in all the magazines and online. I did think of that. I did think of that, because they were selling one of his other house that's a million bucks. So, so here's the thing. It's like, you're going to attract a tenant who's okay with the less desirable area, even though they're a higher caliber tenant because it's Kirk Cobain's house and they they get the bragging house.

It doesn't matter. Dumpy house. It doesn't matter. I feel like that. It's hard to replace that. Kirkoban's house in Hollywood is very similar to that. And it's run down. I think it's like empty and you get these YouTube people who like sneak into the house

to film it. But stuff like that, like you get a bit of a premium. Yeah, we thought about it to an Airbnb and we kicked it around for a while, but I didn't want the headache of it. And then I thought about, you know, selling it as like, you know, like, it was like baby house, right? So it's not like, there's another house in town where he's like, his writing is all over the walls.

Like that house is like, people are like, that's the Cobain house. I just have the baby house. So I kept it. And then finally I was like, here's actually why I sold it. I do what's called a return on equity calculation. Right? So you look how much equity on your property, how much you'd actually make if you sold it. And then you say, well, how much cash flow did I make last year compared to how much I would

have if I sold it. And my return on equity was like 1.3%. I'm like, well, shoot, I'm making no money on this thing. I might as well just go and stick in the stock market and make more than 1%. So it was a financial thing, but I'm actually selling almost everything I own in that town. Like what got me to financial freedom is those first deals, which is great. I don't regret any of that. But that's now, though, that's a hindrance to me becoming like the next level of whatever that is.

I couldn't, I don't think I could have bought the 3,000 units without getting rid of the 30 that I started with. It's just a mental drain on like, you know, like the 3,000 units actually take more, take less effort to manage than the 30 by far. I mean, because I have a team and I have people. There's like, there's systems for the 3,000. But the 30, they're mine or mine with a partner. And that was just, it was a headache. So let it go.

So you're liquidating all of your own personal properties. Yeah, all the ones that like I own alone. I want to get rid of pretty much all of them. I mean, some of them just like, like they're still print money like an ATM machine and I like, I like them. but it's just about like freeing up as much as I can like mental energy to not have to think about that stuff to move it on. So yeah, getting rid of a lot of the early stuff.

Crazy. Wow. Yeah. Sorry, Coco Bain. Curricobains is gone. So how did you scale from being $3,500 a month into now, I don't even know, a million and a half in revenue? And also at what point did you get into bigger pockets?

Yeah. Okay. Yeah. So remember I said in the internet marketing thing, right? So I sat in the couch, started getting internet marketing really liked the idea, like making videos. Like you go back and watch my very first video. I'm not this animated.

I'm like sitting in a chair like holding my cat. Where can we find this video? Yeah. It's on early bigger pockets. Really? Yeah, it's terrible. Oh, here we go. Webinar, the advanced guide to analyzing it.

All right. Yeah, I don't remember that one. You look so different. Yeah, I had, I think I had glasses and no beard maybe. Yeah. Oh, wow. Look at the intro. Oh, so good.

Look at that. Home for Real State investing online. My first webinar I ever did. I've now done probably 500 webinars, but that was a very first place. So what was this webinar for? I just, I think I was just like, I'm going to do a webinar. So Josh Dorkin, by the way, started Bigger Pockets.

It started his basement. It was a little hobby kind of blog for him. And I started like, he grew, it was like bigger. So it was a blog around real estate investing. Blog and a forum, right? So people would ask questions in this Q&A forum. And I actually found bigger pockets. I remember what I searched.

I searched YouTube for what to do when tenants don't pay rent. Because I had a family member who was like, don't do real estate, man. Don't do real estate. It's terrible. Like, you know, Uncle, whatever lost his shirt, right? Everyone's got a story of an uncle who lost his shirt in real estate. It's always the uncle. It's always the uncle.

And there's a lot of uncle's shirts missing somewhere. And so, and they're like, with your tenant's not going to pay rent and, you know, you're going to end up like having to cover it yourself and you won't be able to. You're going to lose all your money and be homeless and live under a bridge yourself. It was like this like real estate's horrible kind of speech, right?

So I went to Google and I was like, what to do when tenants don't pay rent. And I find this site called Bigger Pockets. I remember printing out the article. Not that the, like the answer was fine. I'm sure it was a good answer. I don't remember what the answer said.

But what it told me was there was answers to all those naysayers, right? Just like when people are like, yeah, you shouldn't invest in crypto or you shouldn't invest in a stock market is risky. You shouldn't be an entrepreneur. It shouldn't start a business. Everyone's got like this reason why you shouldn't. But when you get around people who are actually doing it, it's like it's so freeing. You're like, oh, like I can actually do it because other people are doing it. Right.

Like nobody knows like if you don't know real estate, like why would you listen to those people about whether you can do it or not? So I found bigger pockets. I started helping out just in the, well, asking questions in the forums. Like people can go back to my early post and I'm like, how do I buy a duplex? You know, I'm asking all these questions. And that led to me meaning Josh Dorkin. So again, at the time, it was just kind of a hobby forum. Then he kind of made it a business, but it was still pretty small at the time.

And I started editing blog post for him. He's just like, hey, I'm looking for some help. Can you edit? I'm like, I can edit. It was a lie. I couldn't edit. I didn't know the difference between like there, there, there and there. I just like pretend.

I'm like, oh yeah, I'm really good at English. Why did you want to join so bad? Did you have a lot of credentials? No, but at the time I had another blog. It was called Real Estate in your 20s. This is my entry into investing. I mean, my entry into internet marketing. So I had Real Estate Your 20s.

Still there right now. I just haven't updated it a decade. But the idea was like, I'm a big believer that when it comes to internet marketing or any marketing really, but I want to be the intersection of two points, right? So it was real estate for young people in your 20s. And it actually worked pretty well. actually worked pretty well. It started growing and started doing better. But the way back in the day, maybe it still works this way, but the way that it really worked was you'd go and guest post

on somebody else's blog who was bigger. I guess on YouTube, you go and, you know, JV with somebody on a YouTube channel, right? So I was guest blogging for Josh as a way to grow mine. And then when he was looking for help, like, I mean, I'm making three grand a month. Like, it wasn't that much money at the time. And I'm like, well, he's going to pay me to do this. And I think he was like, I think he paid me like a hundred bucks a post to like edit it and and then posted on the blog. So I was making some money at that point. I was just like a 1099 contractor.

And we just found that we liked each other. We started talking every day. And like the few hours of editing blog posts turned into like nine hours of working straight through and just chatting on Skype at the time. And then that led to, hey, maybe we should start a podcast. And that's when the Bigger Pockets podcast started

as we started a podcast. I remember I was thinking, I want to be like top hundred business podcast within five years. That was like our goal we wrote down. And it was like the first week we were like number five and like never dropped below number 20 in the last nine years. How did you scale so quickly? I mean, we had an email list. So by that point, Josh had an email list.

I remember he had 100,000 people on his email list. That's good. Yeah, that was good. Yeah. For what year was that? It would have been, oh, shoot, 2011, 2011, 2012. Yeah. So, I mean, he had spent a decade building that list.

A lot of people like falsely think that I started bigger pockets. I'm like, no, I came in like a decade after Josh. The reason that Bigger Pockets is successful is not because I came in, even though that's when it hockey sticked up. That wasn't because of me. It was because Josh did 10 years of making no money. And there's such a lesson in this, right? Like almost everybody I know who is really successful in business, there was years of not making any money before it hockey sticked up. Every once in a while you see somebody who was just like, oh yeah, right off the bat, they did it.

Right. But most of the time, there's years of what you don't see. And majority people give up somewhere in that. They get excited about their business, and then it's like, oh, the reality sets in and then they give up. But Josh stuck with it for years and years and years until he finally had enough money to be able to hire his very first person, which was me. And so then I came in to help edit blog posts and the podcast and then it just grew from there. So now the email list. And I don't know why the podcast took off.

And we were early, obviously. I mean, at the time, it's funny. At the time, I thought we were so late. I was like, everybody's got a podcast. It's 2011. Like, everybody has a podcast. And like they're good. Look at these podcasts.

And so I never like is crazy. Yeah. And then it just became the biggest real estate podcast right away and it never really left that. And so it became just a big show. So yeah, crazy. 550 episodes later. So why leave? Yeah.

And we should go into that before we go to more real estate. Sure. Well, we're on the topic. Yeah. So I love, I still love bigger pockets. I love it very much. And still, I'm still part owner of the company. I maintain that and I'll still be around.

Like we're still together. But I just have this like, Like one, I live in Hawaii now. I got two little kids, two and five. And just like selling my old rental properties, I needed to clear that mental bandwidth out of my life. Bigger pockets, I needed to break from the like, like, now it's a monotony because it's really actually enjoyable on the podcast and YouTube.

But I needed a break from that so I can refocus on family and on, you know, the real estate company that I built, ODC. And so like, we decided, my wife and I were like, I think this is time to just step back. let the company do what it does. Because here's a problem, right? When you have a company that is heavily dependent upon one person, I mean, there's 50 people that work at bigger pockets, and they're all amazing.

But when people think bigger pockets, they think of me. Like a lot of people do, right? How do you sell a business someday? Or how do you go public? I mean, I don't know where Bigger Pockets is going to sell or go public again. They sold a few years ago partially. But like, how do you eventually liquidate a company when it's dependent on one person?

You can't. It's really, really, really hard. And so we all knew this was a band-aid that we had to rip off at some point that we had to get out of me being the center. And so it was kind of a, might as well do it now before, like, you know, we have to do it eventually. Oh, it's so tough because for a while, I believed that you were bigger pockets. Yeah, a lot of people do. Everyone is like, oh, Brandon from bigger pockets. It's just like it's flowed so nicely.

And as you was the face of that was like, hey, some guys really into real estate and house hacking who gets down to the nitty gritty. It's like it's a good story. It's a good image and it's like everyone can relate to that. Yeah. Yeah and it was it's a it was great and I'm not saying I'm gone forever. I like the idea of thinking like so here's what it was. This is an interesting thing. So I have a performance coach. His name's Jason Dries. He's awesome and he asked as a good performance coach does. They ask good questions and then it's almost like therapy. It's it's like he we're talking about being just stressed out and I feel like I'm working too many hours and like I don't work that many hours. But when. like any hours is too many hours when I've got little kids that I'd rather be with. And so he said, have you ever thought about taking a sabbatical? Just like, take a month off. And I was like, oh, that's a really good question because I do that. Do I need a sabbatical? And as soon as I said, yeah, I'm going to take a month.

I mean, I went nine years without missing an episode. I think I had one episode somewhere in the middle where I missed. But nine years, it was me every single week. I'm the continuity. And all of a sudden, I was like, huh, I could take a month off. I can detach my identity from the podcast for a little bit. And as soon as I did that, I tore something. Like it tore the connection between me and I have to be the guy in the podcast.

I have to be the one doing it. I have to be the one running every piece of my company. And once I tore that a little bit, it was no longer attached. And I was like, oh, well, if I'm going to take a month off, what if I took three months off? And then like five minutes later, I'm like, what if I took six months off? And then I was like, what if I take indefinitely off? And it was doable. I could not go from Brandon on the podcast to leaving the podcast.

But I had to, once I just tore that a little bit, it opened up the rest, which is just a weird, like psychological thing that I think a lot of people go through. Their identity is in their job or in their career or in that, whatever that is. And they just, it is so hard to leave that. So finally came time and, yeah, they'll do fine. If people love the brand, bigger pockets is so strong now that they'll do all right. Yeah. How do the episodes do when you're not in them?

Some of them do really well. What people like is the data. We found out people like data a lot. So we've got David Green. Everyone loves David Green. He's my co-host. And he's really good at metaphors. He's one of the smartest people I've ever met.

And they love David. But they also, we have a new show now. We're on the same channel where they're going through data. Like here's all this crazy information about the real estate market. And here's what it means. And people love those shows. I'm not that guy. Like I can't tell you what the per capita income is of

Cleveland. I don't care. Like, that's not how, that's not my job. I can hype you up and I can get you really excited about real estate and I can explain why it's good and $100 a month and, you know, little oil wells. I love that stuff, but I'm not a data guy. So it's good. They'll, uh, they'll experiment. But you know, you ever watch what's the show called? Kelly and live with Kelly and Regie. Oh, it used to be Regis. So it was Regis and Kathy Lee, right? Originally. So this is probably before, like, when I was in like high school, Regis and Kathy Lee. Then Kathy Lee left and it was Regis and Kelly. Then Regis left and it was Kelly and Michael.

Then Michael left and it was Kelly and Ryan. Oh, I liked Michael. Yeah, Michael is cool. Yeah. Stathend, Strathand, the, yeah, out of the gap in his teeth, right? Yeah, I loved it. Yeah, he was so funny.

Was this a talk show or something? Yeah, it's like morning, like today's show kind of thing. Oh, okay. Jack's too young to remember. Yes, exactly. Yeah, this was, so today it's Ryan Seekrest and so every time that happens in that show, people are like, this show sucks.

I'm sure, like ever, because like you, you, you get, get used to the people. Like, imagine something like you left the show, right? People are like, like, who's this guy? Who's this guy? Like, or if you left, people would be like, hey, we miss them, bring them back, right? But they get over it. And people will get over it.

And there's going to be a dip probably. And they'll be like, we went Brandon back because that's what they're used to. And then they'll get somebody else in there. And then they'll get used to that person. And I'll pop back and be like, hey, I'm still alive. Yeah. And that'll be fun. So, yeah, it's crazy.

Interesting. Yeah. So what are you working on over the next year? Oh, man, I don't know. I really want to get better at surfing. It's a big piece of it. I want to write another book or two. I've written a bunch and I like writing a lot.

So I'll probably write a book or two maybe if I get bored. But, yeah, I just want to like, I want to watch my kids grow up. You know, you don't get that again, right? I mean, you guys don't have kids yet. You could always just have another kid, though. I could have another kid. I want more kids. Kids are so much fun.

They're a horrible amount of work. But it's so rewarding. And so I'd love to have another kid. So I can practice that throughout the year. be great. Get it? But a, anyway, so.

Jack, earmuffs. Yeah, earmouse, please. This show just went PG-13. So that's all, yeah, I don't really know, but I want that. I think it's just really good for people to have more, what they call it, like, margin in your life, whether it's in your day, like, when I wake up in the morning, the days that I start with, like, a buffer, like that margin, just my days go better. Yeah, what do you mean?

A margin, like, space between when you wake up. and when you get to work, right? Or even like in your day, like taking five minute breaks, like having margin like edges around your day or in the middle of your day that just breaks things up. So you're not just like thing to thing to thing to thing, but taking time to just like like relax and like think. In fact, I do a thing every single week.

I have this like amazing massage therapist lady from the Four Seasons Hotel. Comes to my house. I'm a Lanai. You stood on that front porch, right? And she gives me a 90 minute massage. And my wife gets like a 90 minute massage every week. It's crazy expensive, right? To do that same time?

One at a time. Right? So I think it's a couple hundred bucks a week, maybe each person, right? A couple hundred a week? Wait, each person? Yeah, I think it's like 150. I don't know these numbers. I think it's like 150 bucks and for an hour and a half.

That's, wait, wait, but and she comes to you? Yeah, it comes to me. That's cheap. Yeah, it's not bad for a massage, correct. To come to you for an hour and a half. It's not bad. It's not terrible, right? Yeah.

But you do it now, but you made my wife both. Now it's $300 a week times four. It's $1,200 a month, let's call it. Some people would say that's a frivolous waste of money. That is the most profitable hour and a half of my week, by far, when I'm on that massage table. Because that's buffer. That's margin in my life where the first hour of that, right? This is important.

90 minutes is more, to me anyway, 90 minutes matters. 60 minutes doesn't do. Just like a 60 minute run doesn't do it for me. A 90 minute run changes my life. And here's why. The first hour of that like boredom, no phone. no nothing. Your brain's like bored, first of all.

It's trying to like find ways to get the dopamine hit that you get every time you swipe, right? And for the first hour, it's like just all over. It's just scrambled. You're thinking of a hundred different things. But then at some point in there, your brain starts to think of something that's important. You get through the clutter and it starts to focus on a thing, some problem in your life or some situation or some business idea. And so I liken it to a tornado, right?

So a tornado, like, it's whirling around like this really fast. And then it starts to like cycle it on something. And then you get just on some topic in your head. And the last 30 minutes of that massage is where like I would say nine out of ten of my best ideas for whether it's video content or I mean business ideas, problems that I'm going with in business, how to go like open door capital like the company I founded. Like so much of that has been because of that margin, that time. So going back, the year that I'm that I'm taking off is really designed to be a year of just margin. People call them sabbaticals. So like that's what it's about.

Just taking that time. In fact, I have that margin every week. Friday night at sunset, like we shut up our phones. No phone, no TV unless it's like a family movie, which is like a, you know, a cool thing to do. Right. But like it's margin. There's no phone. There's no work.

There's no shopping. We don't go shopping. We don't spend money other than maybe go to coffee together. And it forces you to slow down and just add that margin in your week. So I'm all about like margin of my day, margin in my week and now margin in my life. And so when you add that in there, it just adds a richness and a depth to your life that I think I lacked for a long time. And the more I lean into that, the more happy and fulfilled I'm getting. I want a massage now.

Let's do right now. Come on over here, man. Come on over here. Yeah. You used to get them, man. Yeah, I did. So I was about to say. So in L.A. at the Oppenheim Group, right below, there was this massage place that had happy hour massage.

Get this $35 for an hour. and it was the best massage. Because I've tried a few since then in other places and I've yet to find what I'm really happy with and some of them they hurt. Like I went to one and it was a good deal I think it was like

and here they're expensive I think it was like 80 bucks You're expensive? Yes it was like $80 for an hour which is normal. The other place was really cheap $35 is really cheap but the entire thing was a painful experience

and like she found a knot Yeah yeah sometimes it hurts And it was like this isn't relaxing to me This doesn't help me. Now I'm just like, I'm trying to like breathe through the pain. But the one in L.A. was so relaxing and it got to a point where I would usually do one about once every week and a half or so.

But I'd come up with some of the video ideas. Yeah. Because it's just like you don't think of anything and just ideas come through. And I'm like, oh, that's a good idea. And entirely, I'm sometimes like, oh, I should write that down, but I don't. Yeah. But I come out of him like three ideas. I started leaving a notebook.

So you know how you have the massage table. It has like the circle. You put your face in it. So you're looking down at the ground usually. I started literally putting a notebook and a pen underneath that. And the massage lady just knows. She knows that like in the middle of that. I'll just stop.

Like, hold on. And I can reach it because my arms are like ridiculously long. They call me the human self-stick. So like I will reach down and I'll just write the idea down so I don't forget it. You can also take your phone just like do a voice memo like underneath. You know, the massage person's going to think you're crazy. But it's a yeah, it's so powerful. Adding that breaks in your life.

That's why people like meditation. I'm not a huge meditation guy. Right. But it's the same concept. Just taking time to. slow down. It's huge. I'm doing that every day now. Meditation? Yeah. I'm like following a plan. Okay. Yeah. That's cool. It's pretty good. I'm, I'm pretty like, uh, wiry. Yeah. Yeah. Like, it's difficult for me to, like, sit down and chill for a second. Like, I'm always like, I just want to like get, if I'm ready to work, if I want to

meditate, that means I'm like good enough to work. Yeah. Like, for example, I was meditating last night, but I'm like, I just want to set up my IKEA curtains right now. Yeah. You know? Yeah. I did the meditation thing for a few months and it helped but then I missed a few days. It's like oh everything's fine. I just stopped. But I don't know. I think it helped but I didn't do it long enough to really see it through. Like I was not as consistent after a few months. Yeah, I think it's one of those things that you do for years and you look back and you're like, oh, I can see a big difference in my life because of that. But yeah, I don't do it regularly. I'm not I'm not great. I try to and I feel like there's benefit there but I just, I don't do it.

What other routines or life hacks do you do besides like massages and these like, what would be unique that other people could do? Yeah. I'm a pretty big like goal planning kind of guy, like journaling. Like, so almost every morning I try to this. I write down like my top three goals every morning. Like these are the three things I'm going for. So once a court will, let me back up.

I've got a very clear vision on where I'm headed with my company, with my life, all that. There's a great book called Vivid Vision by, like, guy named Cameron Harold. It's all about like having a very clear picture of where you're headed. Not like a mission statement, not like a number, but like this is a 3,000 word article. Like this is what I wrote. I wrote a 3,000 word article about my company like written it three years in the future. It's like this is what we do. This is what we are. This is what our team looks like. This is what the media thinks about us. As if it was like an article in the New York Times, right? So I start with this vision. I work to like every year annual goal. So actually just,

that's why I'm here in town right now. We're doing our annual goal setting tomorrow with my company. we're going to figure out the whole next year. Then I do like quarterly's where I'm like, this is what I'm doing this quarter. I take that to my journal and I'm like, what are the three goals I'm working on this quarter? And what are the habits? So I track my habits pretty meticulously. So things like, I call them lead habits, right? There's certain habits that if you do, they benefit a lot of areas of life.

For example, if I go to bed by like 10 o'clock at night, I know that in the next morning, it's way more likely I'm going to work out. It's way more likely I'm going to be really rested and feel really good. it's way more likely I'm going to then like make a good video and actually want to go do a podcast. So there's like that one thing I'm going to bed by 10 o'clock affects so many other areas of my life. I'll be better for my kids and all. So I track things like that every single morning. I write down my goals every morning.

I write down what I call your mins, M-I-N-S. It's like your most important next step. I mean, think about this way. If everything, like if you had your goal, you know where you wanted and you know what you're going to get for the quarter and you know what you want to do, you know what you want to do, you know, this. week even like I've defined this week I want to do this most people that's as far as ever take it they're like I want to go to the gym this week but or I want to make a YouTube video let's do that one right I'm gonna make a YouTube video and then the week goes by and they never made the YouTube video and and really when you break it down

almost everything in life is a series of five minute or less tasks almost everything so I started asking myself the question like what is the M-I-N-S most important next step like the smallest tangible thing and it literally might be like open up my Evernote and look at my list of video ideas. That's it. It's a three second task. And then so I have the goal, I have the week, I have my most important next step, open up Evernote and then ask myself again, like right after that, okay, what's my MINS and my

single morning I write down what my goal is, why I want the goal, and then I write down what my most important next step is to get it done. Then I put it on my calendar. So I'm just very meticulous about that and it's helped a lot of, in a lot of areas. I do a business, personal, fitness, fitness, family, all that stuff. So, I know, I'm probably kind of a weird out with goals, but it works for me. That's really cool. I like it.

I love the mincing. That's really cool. Let's do it on you right now. What's a goal you want to achieve in life? A goal I want to achieve in life. What's what I want to do? Real estate? You want to buy some rentals?

First thing I thought of was probably having a family. Okay. Do you have a girlfriend, wife, anything like that? No. Okay. We don't get you a girlfriend. We got to work on that first date. All right.

So we want to get one date. What's your most important next step? I'm getting a date? I'm getting a date. What's the smallest, less than five minute task that you should be doing to get a date? Probably finding a girl. Okay, let's get more specific. What can you do?

Probably look better. Maybe get a haircut. Okay, let's go with that. Let's go with that. Shave my neck. Get a haircut. What's the most important next step on getting a haircut? What's your men's on getting a haircut?

Looking up, or actually there's a great clips down the street. Okay, what's your most important next step for getting a haircut? Getting in my car and going to great clips. Okay. Would you have to schedule appointment or anything? No. Okay, you've got to go. Yeah.

Okay. When are you going to do that? I just don't. Okay. Oh, you're the excuse. What time? Man, you're saying your entire goal. No, you said, no, you said, what's a goal I want in life?

I want to have a good, happy family. Okay. But I'm only 23. I just turned 23. So I think that's something I want to do, but I don't think that's something that's like a pressing things. Sure, okay. So maybe that's not the ideal thing, but you get the idea, right?

Like, I like that. It's like, especially nice, like, especially if you're like hammering it in, you know. Like, you want to continue this forward. People pay branded big money for this. You realize people pay branded like five grand. Well, here's just a just for what he's doing to you right now. You follow along. It's super simple though.

So in other words, this amazing life goal of like what you want to accomplish is to have kids and a family. Think of how amazing that is. It all comes down to you just go into great clips, right? Or whatever is super cuts. I don't know. Like your entire life is all dependent on this one simple act of getting a haircut right now. That's it.

Why aren't you getting a haircut, man? Why are you still sitting here? Like, go get your hair cut. No, you're right. Timing, it doesn't matter, right? That's good. But people are like, hey, I hate my job. I want to get out of my job.

I'm like, okay, well, what's your most important next? They want, I want to buy rental property. I want to get $3,000 a month in cash flow. Great. What's your most important next step? They're like, well, I got to buy a rental. What's your most important next step? I got to find a real estate agent.

Great. What's your most important next step? I got to go on, you know, and they'll usually like, oh, no, no, right? If you go to Facebook and ask family and friends, hey, does anybody know a good real estate agent in Las Vegas? That takes 30 seconds to make that post. Do you know a great real estate agent in Las Vegas? And it'll probably get you what you want. Your entire future, the next 80 years of your life, enjoying life, having wealth, like living an amazing, incredible life, all comes down to 30 seconds.

But you know what? People will go 30 years without doing that task. It's a 30 second task. And they'll go 30 years without doing it. And they'll wake up with it 60, 70 years old, overweight, like, you know, divorce four times. And they're like, why isn't my life working out? Because they didn't do the 30 second task

when they knew they needed to. Because they just don't think about it. So I'm really big on this idea of like go work backwards from what you want and everything is a five minute or less task. That was crazy. It was really good. Holy cow. Yeah, do it to do it to Graham.

Actually, Graham, we're going to do it to you right now. Let's do it. That'd be fun. You ready? So what's a financial goal you have? You want to buy or do or maybe a business idea. Man, I want to lower my taxes. Okay, you want to lower your taxes.

Great, it's great. It's great. All right, lower your taxes. It's too late for this year. What's the most, is it? You get two weeks. How? Where?

I don't know. What's your most important next step to find that answer? I'm worried about rushing it. But I already asked you. Yeah, okay. And you said no. You didn't have anything closing this year. Yeah, I know.

Ryan Paneda was another person, but he didn't have anything closing this year. Okay. And too late on that. So I have two weeks, basically, to spend money on something that I feel like shouldn't be rushed. I feel like it's probably too late for this year. Maybe. What's your most important next step to find out? Who could you?

What's your most important next step that you could ask? Who could you ask? I could ask you. Okay. So when's the next deal that you have coming up? I don't have a deal. But we just raised the fun. But you could like.

Can I get in that? fund? No, I don't think so. I think we're full. Sorry. But I've got a duplex that Kirk Cobain used to live in that you do that. No, but, but for example, I'm part of a group. It's called Goldbundance, right? So it's all millionaires. You have to be a million dollar plus net worth to be in it. And there's a Facebook group where people post in there. So because you're asking me, do I have any suggestions for you? I'd be like, well, I could post in there and just say, hey, anybody having ideas. I got a buddy who's looking to whatever. So in less than a five-minute task for me,

I can post in this group, and somebody might have a deal coming. There's hundreds of real estate investors in the group that do exactly what I do. So that's an option. Don't you feel like it's a bit rushed? If I have two weeks to basically spend that amount of money, yeah. And I don't want to rush a deal.

Unless the perfect thing comes up is like, hey, we got this commercial space, put a million in it. Yeah. You won't close in that time. Right. And that time. Yeah.

Yeah. Yeah, so I'm kind of screwed I'd necessarily No, I don't need 10 model X I wanted to build out the other garage So could you buy a jet Grant Cardone style I've thought about so many things no

There's just there's nothing Real estate was the only thing that I thought Would be good but I'm too late in the year Real estate is I introduced you by way to my buddy Who does the What's it called the you buy real estate And save a one to money in taxes Because you buy commercial so

You got an email in there But you won't close by any of the year on that No. I don't think anyway. Let me put some more thought on to this. I like, I love problems like this. Yeah.

Like, so there's this thing called Parkinson's law, right? You've probably heard it before. Like work expands to fill the time you have. Like, I don't know, 10 years ago now, I had this goal set beginning of year. I'm gonna buy, this is before I was like super goal oriented, but I was like, I want to buy 12 units this year,

12 properties or 12 units, right? And it was like December 21st. And I counted him up. I was just like driving home to the airport. And I kind of forgot the goal again. I wasn't doing any of this journal stuff every day. And I was like, count them up. I'm driving home from the airport and I'm like, oh, dang it.

I about 11. I was like, well, it was a good try. My 11's pretty close, right? 11's pretty good. But then I remember like, I'm not somebody who just like gives up 90% of the way there, right? Like, I might as well try. So I had 10 days at the end of the year and two of them are holidays and one's Christmas Eve. And on December 30th I closed on my 12th property.

Like I closed on it. I didn't even have anything in mind at all. And I had, you know, whatever, 10 days or nine days I closed later. It just shows like the power of like when you have a year to get something done, you'll get done in a year. But if you really want to do it in two weeks, three weeks, you'll do it. Like there's always a way. Just where's the mental, you know, it's going to take some mental energy. Is it worth it?

Right. But that's why I love, I love problem like that. I love constrained times. Like, anytime you can put something into a shorter timeline, it, you'll almost always get it done in the same amount of like effectiveness as if you would have done it in a longer time. So, I'm a huge fan. But let me, let me work on that problem in my head a little bit. Yeah. That's really, financially, there's really not much.

much. That's really. I mean, you could do a, I'm not an expert this, but you could do a charity, what's called a charitable remainder trust. You heard of those, right? Like, you dump money into the like trust and then you can, you get the deduction in the year that you put it in there, but you don't have to give the money in the year that you put it in there. So let's say you throw a million bucks in this trust and you now have a million dollar write off. And then you can figure out over the next few years where you want to give the money to. But you get it off in this year. I'm actually working on an idea that's different, but similar. Um, Keri, for thoughts. I'm going to give you guys a pitch right here. This is the idea that I have.

I'm thinking, so what we do in real estate, like in my company, like ODC, what we do is we buy these properties. Let's call it $50 million for an apartment building. We then fix it up a little bit over the time, over the next few years. We'll raise the rent slowly. We pay off the mortgage a little bit. And by the way, we raise the money from people like you to invest. So you give us the money. You're funding the down payment. We buy the property. Fix it up and we sell it, let's call it seven years later for $80 million. We bought it for $50. We sell it for $80.

Now, we've paid off the property. Let's call it $5 million in that time. So we pay some closing costs and all that. At the end of the day, we clear $30 million. We give it back to you and the hundreds of other people that gave us money. You get a nice return on your money. You're like, yeah, that was cool. I made some money.

And I get some fees and I get some profit at the end. And everybody wins, right? But what do we actually do there? What do we actually do? We, out of thin air, generated $30 million. dollars just like now it took seven years to get there but we made like what other industry can you with that level of like assurance not that it's 100% but like that level of assurance generate 30 million dollars with relatively not that much work because like the machine i mean i

already have 3,000 units add another 300 onto that it's not that much extra work for my company to manage that and the key then so here's what i want to do i want to go to guys like you and say hey you put in go put in a million bucks into this fund. You're going to get your million dollars back whenever we sell the property, but you put the million dollars in now, you get a zero percent return on your money, and you get your money back at the end because we're going to take a $50 million property and turn into an $80 million property, and we're going to give $30 million to kids that don't have food over in some country, right? They give the massive good you could do in that case. But here's what's cool.

You, who just donated, let's say a million dollars, your million dollars would have turned into three or four million dollars over that time. There may be a way, and I'm still working through the logistics of this, that you can write off the three to four million dollars in the year that you give it. So you give me the million dollars today, and you take a $3 million loss. Well, isn't that what they're doing with the, I figure what the stock account is called? I don't know. I think they're already doing it with stocks where you could, you would throw your money into

an investment account that's specifically meant for charity. and then you're able to donate the full amount of that account. So if it grows from one to five, you're able to donate the five. Yeah, I think that's so a similar thing, just doing it with real estate. And I'm like, when I thought of this, I started putting together with some other real estate investors were like, oh, shoot, like this could like, because now all of a sudden you make money by giving, donating money, like right away. Like you offset your money. Offset your income. Now, you maybe we can't do it in the year of.

I think we can though. But even if not, okay, fine, you get the deduction, $5 million, whatever, down the road. Who cares? I think a lot of wealthy people would feel really good. And then every quarter, instead of like a quarterly report, you get quarterly life saved. Like, hey, this year we saved, you know, or this quarter we saved 45 kids from malaria.

Good job. Thanks for your support. That would make everyone feel so good. And then the tax benefits come in. And so anyway, that's one thing I'm working on this year. My little sabbatical is thinking through. How do I make that a thing like that?

And if we treat all of our like life like that, like just always thinking like, what do I got to do next? Like, what's the most important next thing? And then you do it. And then you ask yourself again. and again and again and it's just it's incredible how fast you can go through life but what we do i call it dead space it's the time between taking actions on any project like how long it takes

to read a book like if you were just pick up a new business book you'd probably read in what a couple weeks maybe but are you a really slow reader like that's like one word a minute you know like the reality is we read for an hour we wait for a day we read for 10 minutes we wait for a couple days but what if you read every hour for five minutes you get it done in a couple of days you read every If you read 45 minutes every hour, you get done in an afternoon. So the idea is like you want to minimize that dead space. And the things that really matter in life is just shorten that time. So instead of taking action once a month, take action every single day, even if it's just a little bit, a little five minute task.

So I'm really. So motivational. It's getting excited to. Yeah. It's just, it's life changing stuff, right? It's just, it's the difference between like so many people live their entire life. Like they're in the backseat of a cab. Like they're like their life.

life is driving and they're in the back seat just like on their phone like swiping and like not really sure where their life's going. It's just like falling where it wants to go. But then at some point in your life you can realize like, hey, like there is no cab driver. Like it's just like driving all over with it. It's like automatic. I can get in the front seat and I can drive and I can choose where I'm going and I can choose the direction I'm going to take to get there. And this is like almost every like Uber successful person I know. They all live their life this exact same way. They know where they're going and they work toward it. And things change all the time, right?

Like road construction pops up, but you're driving. So you swerve around it and you figure out another way and you ask, how am I going to get past it? And yeah, I'm so passionate about this idea of like take control your life. And like, yeah, there's too much misery in the world, you know? And people are just like miserable because they're just letting life take them. Not you guys, though. You guys are crushing it.

You guys are crushed. I'm all amped up now. And I don't like to drink some more coffee. Five o'clock in the morning. I'm going to go to the gym. I'm going to do all these things. Well, how many people have you know? You're like, oh, I'm like, I want to lose weight, right?

Like, I went to the gym on Monday and then I didn't lose any weight. So I haven't been back in a week. And you're just like, like, it's not about going once, right? It's about going every day. Yeah. So, yeah, you can't complain about being out of shape or overweight or anything like that because you have the choice to change it from most people. All right.

I want to know now what is your opinion on the real estate market as a whole? And any advice that you may have for me in my current position, I spoke to meet Kevin about this because I just closed it like I told you before the podcast on my first property, October 11th. And now I'm like, okay, I kind of want to get another property. The only issue is I don't want to move in to a new property. Like I'm so content in my current place. Like we strung up lights. I have a ping pong room.

It's gravy. It is so nice. Yeah. But I do want the lower interest rate. The FHA loan, that one like live in one of the units. It's only one of a dozen plus strategies that I'm like not to plug a book, but I wrote a book like six years ago. was my first one. I was on how to invest in real estate with no and low money down.

Like, it's literally like, here's a bunch of different ways you can invest in real estate with no money. And the FHA, the house hacking thing is just one of those ways. And it's not even a good one because it's not zero down. It's three and a half percent down. Like there's better way than that.

I was going to go get a 25 percent loan on an investment property and you don't have to worry about the living. Yeah, totally fine. You can get 20, 25 percent down loans all day long. So that's definitely, if you have the money all day long, just go get a rental property.

Now, get the right rental property, right? And that's not just like go buy a property. In fact, I did an interview for Business Insider recently? Did I tell you about that one? I did this interview for Business Insider. And it's a big site. And I was worried that it wasn't going to be a friendly interview. I mean, let's say it's a business thing.

But they started interviewing a lot of other, they're trying to get a hold of me and I just kind of like blew it off for a while. And they started interviewing all these other people around me. And people would call me like, hey, I just had to talk with Business Insider. They want to know all about you and what you're doing. and all that. And I was like, that doesn't sound good. But then I figured I might as well, I might as well like hear the guy out and figure what they're talking about. So they write this article about me. I talked to the journalist for like an hour and a half. And in there, just a conversation

like this was, I just tell them what I like about real estate, where the market's headed and I'll come back to your question, by the way. I didn't totally forget it. Anyway, and in there, I said, you can't just go and buy any random property on the MLS, like the where all the properties are for sale and then hope to make money. Like that was like, two, You can just buy anything back then and made money. You got to know what you're doing. You got to run some numbers. Like it's one in a hundred deals are actually probably good enough to make money.

So you just gotta get, you know, learn how to do it. It's a learnable process. And so the quote, like the, the headline was something like, Brandon Turner makes millions selling dreams, but he doesn't even believe in real estate. Like that was what they, that's the quote they took. And they said, he says, if you buy a property right now, you'll lose money. That was, that's what they took from that was, because I said, if you buy any random property, you're going to lose money.

money. So if you buy any random property, you're going to lose money, unless you know what you're doing a little bit, right? So, and they, by the way, the picture they took for that, like, they took a picture, like, they put my face on that article. They put a gold tooth that, like, shy. No. Look it up. It's ridiculous. It's ridiculous. What is it? Just I don't know, go to Google type of like business insider, Brandon Turner makes millions. Oh my gosh. Isn't that great? That's it. Brandon Turner makes millions selling real estate investing dreams. Yeah, yeah. Even he says you'll lose money right. Can you not, uh, Because from my experience, oh, you spoke with, what is this, Daniel?

Yeah, I think so. From my experience with Business Insider, they want people to come back. It doesn't make any sense if you're unhappy with this that they wouldn't change it. Yeah, well, it was such a- Did you ask him to change it? I sent an email. I was like, that was an interesting. Because I'm, here's what the media does today, right?

Media, like, somebody writes an article. Article is actually pretty decent. There's a little bit of criticism. Not, not criticism of what I do, but more like questioning, like, like, why are people giving influencers money. That was kind of the question they posed in there. But most of it's a pretty actual factual, good article. Then some editor or some guy in charge changes the headline because they want clicks, right? They're like, oh, Brandon Turner's got a big name. Let's make it controversial. And they put it out there. So I emailed the guy. I'm like, well, that was an interesting choice

for a title. I actually would have to share the article all over and so with bigger pockets, which, you know, have a big reach. We would have talked about it all over. Had you not given me a shiny tooth and made me look like a moron. And he never wrote back. So I'm like, maybe he didn't have a phone number to call. No, I just left it. I'm like, they deliberately like, it was a, it was a smear article. And again, the question like that they kind of pose is like, I mean, we've raised a hundred million dollars from accredited investor. So all rich people, like it's not like I'm taking money from grandma. We raised a hundred million dollars from people in the last year and half and used that to buy 300 million dollars with a real estate. And they're saying like, I mean, that's unheard of. Like,

back in the day, to raise money, you had to go to every conference. You had to wear a suit in a high you had to like do this game and it was all like who you knew and you had to make a dozen pitches every day and do big long webinars I mean it was and I still know guys that do that like they just work so incredibly hard to raise a few million bucks and then here I am like on Instagram and was like in my flip flops and doing stupid videos and me dancing to my kitchen to punk rock and I'm like oh by the way I'm raising some money and then people are like here take mine right and that article's like how is that a thing like this guy just could not believe that's a thing that people do.

And the truth is, like, they do it because they know, like, and trust me. And this is the secret to raising money is, like, when you can get people to know, like, and trust you at scale, like, they understand that I'm not going to take their money and run because they know that I'm a father. They know where I live. They know that they've heard me for 500 hours on a podcast. So they're like, yeah, I would trust that guy with my money. And they've heard me talk.

And they know that I can intelligently talk about the pros and cons of real estate and why I like it and what goes, you know, So real estate investing has changed dramatically over the past few years in that ability to raise money via social media. And I'm kind of one of the guys at the forefront. I mean, of course, Grant Cardone is so much farther ahead of than I am on that. I mean, he's raised like a billion or two or three now. I don't know. He's raised a ton.

But it's fascinating. This idea of taking like this kind of niche celebrity world that we're in and then using that to raise money to then buy big. real estate deals and then you take a piece it's private equity just at scale so anyway back to your question real estate market where's it going yeah yeah down the toilet no kidding uh brandon turner makes millions yeah uh i think of course we have no idea right a couple of thoughts one i don't care into some level i don't really care that much because if the market goes down i will just buy more real estate it's great like it's actually going to be a good thing if real estate goes down in price i'll buy more because we buy for cash flow like we buy properties that make money today i do not expect

rent to drop and even if it did it could drop 20% before we even break even because you know a bank won't like if you're buying a commercial loan a bank won't even give you a loan if you're not making 20% margins like that's like their number 20 or 25% so like rents could drop 25% before we're breaking even uh and that's all i mean rents don't typically drop even in 08 they didn't drop and and And with the amount of money that the government's printing right now, there's not a lot of people out there thinking that we're going to see lower rents and lower real estate prices. Almost everybody I know says the same thing that rents will likely continue to climb. There's been a housing shortage in America that's only getting worse and worse. They're not building as many houses as there are people coming into the country and wanting to live.

Supply and demand says, again, that's going to drive up rents even higher. So I don't worry too much about the rent. So as long as I buy properties that make money today, I'm okay. market drops, it doesn't matter. You have a mortgage. Like my property could go to zero. It doesn't matter. I just like eventually going back up again. Again, real estate tends to up and down there. All right. That said, uh, I think it's going to keep going up. I think we're going to see a lot more like turning into Europe. You know, like in Europe, it wouldn't be a normal thing. The kind of real estate cash flow that we have like in America is not normal in the rest

of the world. Like you don't just go and like buy a property for 20% down and start making hundreds of dollars a month in cash flow. That's not a thing in most countries. Like, for example, Hawaii is probably more similar to what a lot of Europe is, where the house costs a million dollars and it rents for $2,000 a month versus you can buy a house in Ohio for $100,000 and it rents for $2,000 a month. Like that's, it's like 10 times more profitable than it is in Europe. So I think we're just going to become more and more like Europe and more like Canada, which has been like just crazy expensive. In which case, great, all our properties go up and up and up. So buy property. is that make sense now, run the numbers, learn how to run those numbers, and account for things

like we talked about earlier, CapEx, right? Things will break, that pipe at your house. That's just, you know what's going to happen. So if you're setting aside 300 bucks a month for CapEx, that's $3,600 a year, every other year, you could spend $7 grand on some repair. And it's like, okay, no problem. If you have a problem and money can fix it and you have the money, you don't have a problem. Yeah. It's just business. How do you feel about people villainizing landlords? Yeah. Because it does seem, and we were talking about this the other day, We're moving in the direction right now where if you're a landlord, you're bad. Yes.

Because housing is a human right. And just like you wouldn't gouge someone for food, people need a place to live. And as a landlord, you're profiting on that. Yeah. So we're going in that direction. I don't think we, I don't think we've seen the worst of it yet. And I think it's, unfortunately, I think it's going to continue. I do too.

And to a point where you could no longer say you're a landlord. The biggest risk that I think we have in real estate today is, and this is not a, political, it is a political thing, but it is if somebody likes, like Bernie or AOC gets in charge and then do something like, you know what, like housing is a right. So we're going to take all rent in America and drop it in half. Like if that, like, I doubt that'll happen. And I think there's a lot of smart people in, it sounds ridiculous, but in Washington, who would make sure that didn't happen. And they would say, no, that's going to destroy the world. But that is, I think the biggest risk we have is that, is that housing gets so expensive.

because the government's just printing some money. So all of a sudden, rent goes from 1,000 to 2,000 to 3,000, and jobs aren't keeping up. Then the government might step in and institute rent control or start dropping rents. But they're not going to bankrupt every landlord of America because then everything is foreclosed on and they completely tanked the economy.

So I don't expect that. I think it's a one in a thousand shot. But that is the biggest risk we have is that somebody comes in. I mean, there was a, you telling me this or somebody else? There's a city council person like Seattle who was like fighting to say like every landlord was going to have to give equity and ownership to every one of their tenants.

And that was just a thing because tenants deserve to own where they live. And it's like, okay, well, are they going to pay their share of the roof when it breaks? And are they going to pay their share of the pipe that broke in front yard? Like, who's paying that money? Like, there's a reason landlords make money. Now, the other reason I don't worry too much from a political side is that most, I don't know if most, I don't know the numbers, but many, many, many of the senators and Congress people in our world, they own real estate.

Most of the rich people in the U.S. own real estate. it's they're not going to screw themselves but from my yeah yeah it's it can be like a cop yeah I'll tell you what I think yeah people want to get elected yes I think it's moving in that direction where you can't say hey guys we want to be financially literate let's save our money it's a lot easier to say let's cancel student loan debt yeah I agree so college should be free let's tax the people making a little bit more than you that's not fair and I think those are the people more like to get votes and over time it's slowly going to switch. I also wouldn't be surprised if at some point we have a nationwide rent control.

At some point where it's like, hey, you can't raise the rent more than 3%. Here are these terms. Or they basically say to people you cannot own more than five properties. You have a main residence, a vacation home, and three rentals, and that's it. Or if you're married, well, now it's 10 properties that you could own between the two of you. Something like that. And then once you reach your 10th property, you know, then it's like, well, now you've got to sell one of them to buy something else. Or maybe they start progressively taxing it.

Like after five properties, then you pay a surtax on that six property, like an extra 10% or something like that. Yeah, I just think that there will always be a way to outsmart the politicians. Like always. Like there's so many rules today that were like years ago, we're like, no, I can't believe you made that rule. And then like, okay, we're going to start an LLC. And they're going to own the property. I don't own it. Like this company does.

And you wrap it in this company and you put it in here. There's all like there's you always find ways to outsmart the politicians and and And this is maybe this is a problem with a democracy and capitalism But the people who have money and are well educated They can afford the lawyers and the people to get around the laws and so then they do and they make even more money and the people that don't get hurt by those rules Which is why I think a huge problem in California like I don't think rent control I think rent control led to the prices going crazy in California, it didn't stop it. It led to it. I think anytime they

try to curtail free market, it tends to hurt the people at the bottom of the market, I think. And so if they saw nationwide rent control, we would all shift how we do things a little bit. We'd all keep watching YouTube videos and learning and growing and we'd figure out a way around it. We'd figure out a way to make money and we'd do even better. And then the people would get more screwed at the bottom. Like I got to tell you, I'm really upset. I mean, it is what it is. But my place in West L.A., the rent control is so strictly. there that the maximum you could raise your rent is $54 a year. That's it.

And the place would probably rent for all in, like $10,000 a month, and $54 a year. So my property tax goes up higher than my rent increase on the property. It's better for me to leave it empty. And just so I have a place to come back to, you know, every few weekends, spend a weekend there, it's better for me to leave it empty than rent it because it's so difficult to get a tenant out and I just, it wouldn't make sense. Yeah. Yeah.

I can see that. There's also what happens to is people shift, right? They're going to shift, like Texas will never institute rent control, right? It's Texas. Oklahoma is never going to institute rank control. These like, these like conservative states just, I can't imagine them doing it. Therefore, like people just shift there. I mean, and those who want to tackle the problems of rent control, there's ways to make

money in that too. They're going to do that too. So I'm very much an optimist that I will always figure out a way around whatever's coming. And I think when we take that perspective, like, it's still free and just like, oh, yeah, like they can't take away my ability to learn and to grow and to network and to figure things out. And I don't know. I just, I worry that people have to do what's popular for the vote. And if 80% of people are in favor for something, even if it's wrong.

Even if they're wrong, yeah. Financially, I'm not saying, you know, their beliefs are wrong. But if that would lead to higher housing prices and they're just unaware, it's really difficult to account. explain. But if it's popular to say, hey, we need more rent control. Yep. Then that's what's going to get voted in. I mean, what are your thoughts on inflation right now? The money printing, I mean, you're smart with the stuff. Personally, I don't think, I don't think it's real inflation. I think it's a lot of supply chain issues and bottlenecks. So that's why, what was it, I think it was Google,

refused to give their employees a raise based on the inflation readings. And I think Google is smart enough to know that if inflation goes up 7%, you know, this isn't a permanent thing that's going to last another 10 years. So they're like, why are we going to increase wages 7% when this could go down three years from now? And then what? We're not going to bring down their wages. So what? If we see deflation, then we could pay less? No. So I think it's probably another two years where we're going to see crazy high prices, but I think probably another two years. I would see the biggest risk is if another variant comes in, which is more contagious and more severe in terms like, it seems like the Omicron or Omicron, however we pronounce it, was a bit it kind of blew over.

Yeah. But if something similar to that comes up for it, it's like, oh, crap, well, we have to dial things back now. That's probably the only thing that would risk inflation. I think it's just supply change. Yeah, I think it's causing, I mean, that we saw it in like lumber, like, you know, two by four went from like $5 to $10 to $15. right to 20 down to like seven and right now it's back at like seven or five or whatever like yeah

it moved in the supply chain so I'm sure that accounted in there and they call it inflation it's not quite but yeah I mean my limited understanding of economics like just says that you can't you can't print the amount of money that they're doing without expecting some inflation in the future right and and also the amount of money that they keep giving tenants to pay their rent and if another variant does come it just comes to us anyway like the landlords for the reason why they don't like us including like now my buddy David's always telling me telling me and everyone else to stop talking about the tax benefits of real estate he's like we don't want them to know like the more we talk about that

the more angry they're going to get when they realize like what we're doing it's not illegal and it's encouraged that they like the government wants us to buy big pieces of real estate to provide housing and so they give us a really good tax deduction on that like all the accelerated depreciation all that but david's like if the masses knew what we were doing. You know what? No. And the reason why they wouldn't care, they care more about you losing money. The most popular real estate investor of all time is a fraud. He loses money every year. Yeah, they love that. That gets more clicks than this tax loophole. People care more about oh, we lost money. Yeah, I lost $3 million last year. On paper, I lost $3 million. And therefore,

because I'm a real estate professional, it offsets all my income. And so it's really sad, actually. See, that's what David hates. You could carry that forward into future years. So now, if you make $3 million in next year and profit, now you're nothing. Yep. It's crazy. The tax benefits of real estate, like, when I look at real estate, I'm like, here's why I love it. I mean, business is great. I love business. It's great for making money too. But real estate has like these kind of five things that are going for it, right? There's cash flow, which is awesome. You buy a property, makes extra money every month, every year, hopefully you buy the right one, right? You get appreciation. It goes up in value over time. That's just how real estate tends to go.

percent on average per year over the last 100 years. And then there's the loan gets paid down. So you buy the property at $100,000 next year, and you're only 99. That's 98. Then it's 96. So loan paid out. And then the cash flow appreciation loan pay down the tax benefits, which we touched on, where you get these losses that aren't actually losses just on paper.

They're losses. And so you can deduct your other income from it. And then the last piece is the leverage. You can buy a million dollar property for 35, have, you know, $35,000 if you're putting three and a half percent down. So you include all five of those things and it's just like really, really good. And it has been, let's say you wanted to open up, you had an idea. You're like, I want to do a catwalking business. Catwalking. That's the future. I think it's going to work. And so you go and build your catwalking business. You have no idea

if that's going to work. You've never met another catwalking person. You don't know, but you think it's a good idea. And you try it and that's why 90% of businesses fail, right? But real estate, like, you're like, I'm going to buy a duplex. You can go buy a hundred books on exactly step by step how to do it. You can listen to 550 episodes of the podcast where I tell you how to buy a duplex. It is so documented and formulaic that it's kind of hard to screw it up if you just take the education. So that's why I like real estate so much is it's anybody can do it. You don't have to be good. You don't have to be smart. You don't have to have money. There's a million strategies, but it's all been so well done that you can figure it out if you

want it. It's there. You're the first person to really get me hyped. Now I'm hyped on real estate again. Real estate is so good. Let me get you even more hyped, right? So here's why I love real estate even more. So real, I call this a stack, right? So the stack is, think of it this way. You're going to buy, I said earlier, if I can make $100 a month on a unit, like one, let's

say one house, I want to make $100 in profit after all the bills have been paid, including setting aside money for repairs and cap, cap, and mortgage insurance, all that stuff. I want to make $100. Well, you're like, that's stupid. I mean, I can go make a YouTube video and make $100, right? I can go and sell Girl Scout cookies and make $100. I'm like, yeah, you're right. And that's a lot of work to buy one house.

You have to learn all this new stuff and this lingo and all this effort to buy $100. But then you take that knowledge you just learn and you're like, okay, I'm going to buy a duplex now. And so you buy the two unit property. And now instead of making $100, you're making $200 plus the original $100 you had. And now you're at $300 a month. Again, like you could sell girls'cloth cookies for that. Then the next you go buy a fourplex. And then you buy an eight unit after that.

Then you buy a 20 unit after that. And now all of a sudden, now you're like, well, I'm making, you know, four grand a month in money and then you buy the uh i don't know what was that 20 unit 40 unit then you buy the 80 unit now this is you don't have to be formulaic like that but the idea is exponential growth right so up until three years ago uh i had 100 units took me it took me 12 years to get 100 rental units it took me well even like really two years i bought my first like big one two years ago now two years and two weeks ago so it took me what's that whatever 13 years to get to 100 units.

It took me two more years to get the 3,000. It's just this hockey stick. And the interesting thing is, I just bought a $72 million. I think we closed tomorrow. $72 million apartment complex down in Houston. That property was less work for me.

It's less, I would say almost less risk, less money from me than my very first single family house. I bought 15 years ago. That's the deal I should have gotten in it. I should have gotten it out. When did you close the funding on it?

Like a month ago, maybe. We raised it quick. Oh, geez. Yeah. So that was like, I was like a week or two, probably too. Probably a couple weeks like. It raised, the money raises quick because a lot of people are in the same situation, especially end of the year.

It's a good time to raise. Like next year, I want to like, I'm going to raise like a ton of money in December because everyone's like, we got it. We got to deploy now, right? But anyway, yeah, it's powerful stuff. And so the knowledge and education, that's, what's important. That's why earlier to circle back, those early deals in Washington, when I, Washington State, I had the 30 units. Like, they are, I value them so much because they got me to

where I could then get to the next level. They, they matter so much, but they also don't matter at all. Like, financially speaking, like, I make a few thousand dollars a month off it. It's nothing compared to what I make off everything else. But I couldn't have gotten to the other part, the business of real estate if I hadn't gone through that. This is where I differ with Grant Cardone. Grant Cardone is like, start with a 50 unit. Start there. That's what you should buy. And I'm like, ah, like when I bought my first 50 unit, I made so many mistakes.

And I've been doing it for 10 years or 15 years. So I think you've got to go through the journey of buying these smaller deals. And you've done it now, right? So you've done the property thing now. You could probably take down a 20 unit. In your head, you're like, well, you know, it's not really worth my time to buy a 20 unit. You're right. It's financially it's not worth it.

But by buying the 20 unit makes you better to buy the 100 unit. And then buying the 100 unit makes you better to buy the 500 unit. makes you better to buy the 500 unit. And that's where things get fun, where you're taking a $70 million property, you're going to turn into $120 million. And at that level, you've got a whole team that runs everything for you,

and you're just using your platform to raise the money. Why don't you just do commercial real estate? That's pretty much what it is. Would you do that and buy like a jiffy lube or something like that? Yeah, I would, so I like, they call those triple net links, right? And I can't remember what stands for. But it basically means, yeah, There's there's they're great in that what is it net taxes yeah yeah tax insurance

and repairs right yeah so you basically you don't have to do anything let's admit this is you know about this stuff it's super cool right you buy a jiffy loob and your only expense is your mortgage payment right because they take care of everything uh it's it's a good idea but here's what's wrong with that or that what's scary jiffy loob leaves they go to business right like um forever people were like walgreens and cvs they are the thing to buy because they They are never leaving. And then like CBS announced a couple days ago, right? It was like they're closing 900 stores.

Like they're like Walgreens and CBS will be out of business in five years or at least like heavily diminished. Why? Because Amazon, right? So the problem with triple net lease in my mind is a lot of them are single asset, meaning they're one tenant in one location. And if they leave, you're going to have a year, two years, three years of just an empty property. And it's going to cost you half a million dollars just to renovate it for the next guy. And then they might stay for five years.

So I'm not saying you can't do that. It's a good model. It's just there's risk there. And so there's also, what I like to do is value add real estate. So we will buy it at the apartment for $70 million. And we'll put $5 million into paint and remodeling the units and make it really nice. And immediately now it's worth 90. Like just by doing that remodel and raising the rent now, it's worth way more right away.

The chief you'll leave you buy it for $5 million. Tomorrow it's worth $5 million and, you know, $5.1 million. Sure. And it goes up slowly. so versus this. And so I like the stair step method. It's like you boom, jump up equity and then you go for a while,

which is fun. So again, different strokes, different folks. Like I can, I can find a millionaire real estate investor in every single solitary niche of real estate. You'd be like,

I think it'd be really cool to own like sober living houses. And you're like, okay, I can find you a millionaire. I know a millionaire. He's a millionaire doing sober living houses. I really want to do like commercial real estate like strip malls. It can do it.

It all works. Every bit of it works. if you're willing to put in the time to become great at it. And most people aren't. So that's why they don't. Those sober living facilities, by the way, I represented a client who would, he didn't own the buildings,

but he would rent them out and then create a sober living facility in that. What is that? So they would look for, so let's say he would find like an eight bedroom house that was 10 grand a month. He would run a facility where people would pay $5,000 a month or $4,000 a month to live in this house

and they do, I think they do like meals, they do counseling, they oversee these people. And so if eight people are living in there, each paying five grand a month, that's $40,000 a month, his cost is, let's say $10,000 a month for the house,

plus another $10,000 a month for services. So they're walking away with $20,000 a month in profit per house that they get. Yeah. It's a, it's a, it could be a lot of money. There's all these cool little niches in real estate too, which are fun. Like, for example, one thing I'm going to be,

pursuing a little bit in the future. In Maui, I've got this rental house there with four bedrooms. And it was a triplex when I bought it. And then the government stepped in in Maui. And they were like, we don't want you to have a, it's not legally a triplex. Take it back to a single family house. And I'm like, dealing with them, trying to navigate that. And sure enough, I'm going to have to take it back to a single family house. It just sucks. That's one of the things you go with. Right. So I'm like, all right, well, the big thing right now is traveling nurses, especially because of COVID, but it's just in general. It's always been a thing traveling nurses. and they need a place to stay for six months, typically.

So what I'm going to do is I'm going to turn each bedroom, and they're huge bedrooms in this place, each bedroom into a furnished rental for traveling nurses. And I can probably get $2,000 out of each bedroom for, that's $2,000, $8,000 a month out of this property. I mean, I got to pay $500 in water and sewer and garbage and electricity. But that property is going to just like print money. My mortgage is $2,000 a month.

And I'm going to have maybe, you know, let's call it two more $1,000. of all expenses, including CapEx and management and all that. I'll still make $4,000 a month and just profit off that. That's a cool little niche. It's like you can do that. You can do an old folks home. I don't what they call them.

That's probably the wrong terminology. Senior living, yeah. You can assisted living. Yeah, you can do that. Oh, yeah. They make money too. So I represented a client who did sober living facilities and senior care facilities. Yeah.

Oh my gosh. This guy, like a ton of money doing that. This senior care especially. Yeah, there's money there. 30% sometimes a year. Yeah, it's crazy. It's really good. One other like, yeah, I mean, there's a million.

There's vacation rentals, right? Like, you could be in an area that's vacation rentals. Do you've heard of Airbnb arbitrage, that concept? It's like, rent a property. Yeah, you rent a property, then you rent it on Airbnb. I know some people killing it on that. It's just what I always say is like follow the fire. Like something like when you listen to a real estate podcast or really any podcast, right?

Something like fires you up. When I hear about Bitcoin and people start talking about Bitcoin, like I'm just like dead. Like nothing. I just don't care. Like I just, for whatever reason, I don't care.

I'm sure it's a good idea. I mean, I bought like 10 grand just to have it as a lottery ticket is it maybe go up and maybe it won't. But like, I just don't care about it. I don't care about crypto, really at all.

I don't care about NFTs. But you talk to me about duplexes. Ever since I was 21, I'm like, let's talk about duplexes. I love them. Like, and I got into mobile home parks.

Why? I don't know. Like some piece of my brain is miswired and it's like mobile home parks were cool. So I always say like, follow that fire. I don't care what it is, but like everybody gets fired up about something. Could be sober living houses.

I got a friend who was a severe drug addict. Her and her husband both were severe drug addicts and alcoholics and just struggle with that for a long time. And then they like changed their life, like came to Jesus, like turned everything around and now they do sober living houses. And like it's such a cool thing. It's fires them up because it like they went through it and they saw the, yeah, follow the fire. Like whatever you're like in. I mean, YouTube obviously fire. It bears you up.

So you lean into it and you're, what do you know? You're successful with it because you followed the fire. That's cool. Now I'm curious, what's your experience been with mobile home parks? Let me tell you a story about a bank robber and a prostitute. Okay. Let's start with a bank robber walks into a bar. Yes.

We'll start with a prostitute who's actually not a prostitute. So we got a call. We had a call to our property manager. My very first mobile home park I ever bought. I get a call, well, the property manager gets a call from this gentleman. they let the messages in the middle of night and the guy says, I wish I had the recording. I'd play it.

It's so funny. I was like, hey, my name's, uh, well, I'm not going to tell you my name for obvious reasons. And,

uh, I was just over at, uh, you know, whatever park, uh, unit number 12 and, went in there and,

uh, met the lady on it through Craigslist and I went in there and I paid the lady your money and I took off my clothes and I laid in the bed. Then her boyfriend comes in and rob me. I'm not going to the cops with this. So, uh, I just wanted you to know.

And so, no. That prostitute who actually was a thief, which is a cool, because that's actually the perfect crime, right? What's this guy going to do? That's true. Yeah, so for those who want to make some good money, let me tell you a great strategy. Gregs us. Yeah, isn't that crazy?

Yeah, it's like robbing a thief. Wait, wait, were that someone in your trailer park? In my trailer park. Now, we buy nicer trailer parks we try to than that. But, like, so that's first story. The second one, a little more boring. The guy robbed a bank and then fled and the FBI was after him. And we had to repossess both.

Anyway, the first lady she left after like a month after that. You know, it was a hearsay. We actually didn't know she was a thief. It's just some random guy calls, right? I'm sure she was. But I'm not going to evict the lady because somebody said that. Obviously, we watched closer. The bank robber, we had to repossess his house after a while.

So mobile home parks are fun. They're good for stories, but really they're good for cash flow. They make good money. And here's why I like them so much. If you buy a rental house, sorry, let's go apartment. You buy an apartment complex. And the plumbing breaks, the toilet breaks, because a tenant flushed contact lens bottle down the toilet, true story, then I go over and I have to pay somebody to go and fix that. But in my mobile home parks, if a tenant drops a contact bottle down the sink, they have to pay that.

It's their home. Like, I don't own the home. They own their own home. So I don't have to deal with the ups and downs of dealing with repairs and contractors and all that drama. Now, there is an aspect of that because we bring in a lot of homes. But that's what my favorite thing is like it is fairly stabilized cash flow. Like it's like triple net lease in a way because I don't have to do with the repairs, maintenance or any of that. It's just like they pay rent.

They even pay their own water bill. And so my expenses and the headache is pretty low. Plus, because they own their own home on my land, they don't typically leave. They'll stay for years and years and years because they can't just move their house. It's expensive. And, you know, there's some investors. have like gloated over it over the years like like you know yeah that we trapped them in our park and like i don't i don't want to think that way like i got but it's it's kind of true right like in a way they

they are low income they can't just pay 10 000 to move their home to another park and so they kind of are stuck there uh now some people say that's then you shouldn't do mobile home parks it's a moral to do that and i'm like well i mean there's people at that level so they can be they can have crappy landlords that take advantage of them and treat them terribly or i can help them It's like there's going to be low-income people everywhere. So I just happen to serve them and I serve them well and I try to treat them. We don't jack their rent up. In fact, the other thing I love with mobile home parks is that we buy them partially empty.

I like that. So if you go buy an apartment complex, it's a hundred unit apartment complex. And for some reason, they've had a hard time getting tenants lately. They're only 80% full, let's just say. You still pay 100% for that property. You still pay as if it was 100% full. That's just how commercial apartments are. With the mobile home park, if it's only 80% full, I pay 80% because there's no homes there.

And then we are really good at finding homes, moving them, and then setting them up and then selling them to tenants. And so every time you bring a new home, I can take a property from 70% or 60% full up to 100% full. And then at the same time, I can shift the water bill over to their responsibility. I can manage it better, get more people paying rent on time because I'm actually a good property manager. And all of a sudden, I've doubled the value of that park in a short time.

In fact, our very first fund with my company, we bought three mobile home parks. Total price was $6 million, $6.1. We just sold it for 13. Like in two years, we went from $6 million to $13. Our investors got a stupid good return on that one. We won't get that, I'm sure, every deal in the future. But that's what's fun about mobile home parks, plus the stories, the bank robbers and the process.

What's the return that you usually get on a mobile home park? 30% 20% yeah that first one we ended up we our investors got who they get roughly 70% give or take of of the deal we as a company that owns it we take about 30 so they got like a 35% return on their money like per year like IRA they got like a 35% which is phenomenal I mean we don't usually we project like 15 to if we can get 20 that's a home run but 15 is it's good we kind of under we we say we underwrite to 15% So if we, if we, we can determine how much to pay for a property by working backwards and saying, okay, well, if our investors need 15%, you know, IRA, then working backwards, we can pay 6.1 million. And that's, that's what we offer. There's no emotion there. It's just like, this is the numbers. If we make it work, great.

If not, move on to the next one. Makes me want to invest. What's the qualifications of an accredited investor? Isn't it just $250,000? It's like $200. Yeah, yeah. It's $200 if you're single. single 300 if you're married or you have a million dollar net worth or you have like a series

seven. The crazy thing, no money checks. It's like as far as I'm aware for accredited investor, all you have to do is self-certified. I'm going to credit investors. So yes and no. That's, yes and no. So there's a little distinction. You're right with, this is probably getting into the weeds that maybe people won't care

about, but there's two, mainly two types of syndications. There's what's called a 506 B and a 506 C. So a 506, and this is important for you to know down the road for, I'll tell you what, for obvious reasons in the second. A 506B means it's your friends and it's friends, family, people you maybe know have a connection with, you go to conferences, you meet people who shake the hands, all that we talked about earlier. Almost everybody does that and has for the last whatever X amount of years.

Because to do that, you can, A, accredited just have to say they're accredited. And B, you can take money from up to 35 non-accredited. So from like your buddy who makes $180,000 a year, he can give you $50,000, not a big deal. The other options to five of a six C. That's what I do. That one says you have to prove that their credit. That's actually go through a process to approve it. There's actually companies out there that will do that for you.

It costs a few hundred bucks. We pay it. And they have to prove it. It's a bank statement's all that, right? And we can only take money from accredited investors. So why would we do that? That sounds like the other options way better, right? It's because with the other option, the one that I don't do, you can't advertise.

You can't talk about your podcast. You can't put it on a Facebook ad. you can't put it anywhere publicly. Like it's very like, you know, in person, it's a family friend. So if you are an influencer of any kind, imagine you had a real estate thing and you could not talk about your real estate. It would suck. So the people who have an audience like me, that's why I've been able to raise so much money is because I do 506C. It just sucks because there's, I mean, there's how many people are watching this right now that would be like, oh, yeah, that sounds cool to invest.

Oh, I don't make 200,000 a year. And so they can't. I wish I could. Yeah. So Grant Cardone has a model. There's a third one out there that you can get the best. best of both worlds. It's just super expensive and complicated and leads a lot of headaches. Like he got sued, you know, he got sued by like somebody who put in like 10 grand.

I don't know the whole story. But like the guy who puts in 10 grand is the guy who sues you because he's like, oh, Grant said I was going to make 15% of my money and we only made 2% or whatever. You're like, he said 15% IRA. That means like spread out over the course of the investment at the end. You get most of it then. It's always the guys that put in 10 grand that caused you the problems. I've got a few people who put in millions. You never hear from them like you never because they just yeah they trust you like so anyway crazy i've always noticed that in real estate too generally the people spending the most wouldn't care they're just like hey just give me a house at this the easiest deals just what do you want me saying all right done yep that's it

and meanwhile the people uh in the lower price points combed through everything like you know what my my father said that this was a bad term we should cross that out it's like it's a standard yeah i know it's like but no we don't know agree with that one sentence. It's always those. It's actually one of the great things when we raise money, we raise a lot of money. We like, we will like tag people as like they're going to be difficult to work with. Like they're the ones that like they want to go through every single line and every single thing. And like, they'll like look at our documents and be like, oh, you only have $134,000 here for paint. This just seems a little bit too low. I think you're probably going to be more like

140 or like or whatever. I'm like, listen, man, like we've been doing this for a while. We've got contract your bids like you're like an armchair quarterback maybe this isn't the right investment for you like we will like just not take people's money um and like people will ask me sometimes like hey uh should i put money with this guy uh his his his investment that's gonna sound really bad but i'm gonna say it anyway when i i invest in other people syndications i almost never look at their like ppm or their information i don't care because like i i trust them as a person they're people that i know i like them i trust them and so like how am i going to go through their not documents They put 100 hours of work into analyzing this deal.

Am I going to go in there and be like, I don't like how you put only $55 there a month for rent raise? I think you're only going to get 50. I don't know. Like, do you trust the person? Do you think they have a good chance of making your money grow? And if so, I'm going to make the bet on them. And the best I can do is I make a lot of bets. And I think most of them will pan out because I trust the people.

I think that they're trustworthy people. And it's best you can do. So it's like those companies, right? Like you invest in a stock because you like the company. I think they got legs. Jack, did you sell Robin Hood yet? No. It was down again, Jack.

So this is what happens. I invest a big chunk of money into Robin Hood. And then Jack over here is like, do, dude, do I want to buy some Robin in two. And he buys it in the stock tanks. It's every single time Jack does this. And it keeps dropping. And I keep telling you, oh, just go sell it.

And he's like, no, it's going to go up. But the longer you wait to sell, the lower the price goes. Please. And this is why I love real estate. Because that strategy works. You love your. real estate. That works really good in real estate. Like if it drops, you're like, oh, just hang until it comes back. You can't do that in stock. You can do it in real estate. I was working.

I was going to crash the Las Vegas market. As soon as he buys something, there's a foreclosures. Like, yeah. You're the guy in like school where you like walk by the computer lab. I don't if they had computer labs when you're in school. We walk by and like all the computers just like shut down. You're just the bad luck guy. Jack, you can sell please? Absolutely not. No, I'm riding this out. Ride it out, man. This is one of his heaviest positions to it. It's just so unfortunate that I happened to buy into it. Jack, what if I give you 500 bucks to say right now? Dude, I can't. What if you arm wrestlers for it right now? No, Jack's going to win. We are messing last podcast. Really? By the way, my arm was hurting the next day. Oh, mine wasn't. I won. But yeah, you know. Jack, $500.

I'll say seriously, because I have so much money invested in this that for me, 500 bucks, it's worth it just to get Jack out. Dude, and when do I buy back in? 30 days? 30 days. I'll heavily consider it tomorrow. I'll talk about, it's market close anyways. And tomorrow's Saturday, so it's not like we have, you get rock paper scissors it. All right. How about this?

Rock paper scissors. If you win, you pay me $500 and I'll sell and I'll buy back in 30 calendar days from the day I sell. If I win, we'll leave it. Okay. How about this? 250. $2.5. $300.

$350. $300. I'll buy dinner tonight. I'm not hungry. 300 and I'll buy dinner. Jobs the mic. All right. 300 and a dinner credit.

Super sushi. You already owe me one super sushi, so we're back at two. Okay, so now we have to rock paper scissors. Rock paper scissors. Okay, so you got the first one. Okay. Rock paper scissors. Oh, see?

Well done. No, no. See? And I told you, Monday green candling. Okay? Three hundred bucks, man. Green candles. You're just, are bad, you're having bad luck with the stock.

Not only have you down 80 grand, now you lost 300 more. Green candles, man. You're right, you're right, you're right. How much can I pay you for your stock picks, man? Okay, you're lucky. So I could short them. Just open up a short position as soon as you buy it. Fake me out and then short the stock immediately afterwards.

Crap. Sorry, man. Wow. All right. It's going to go good. That sucks. It was a good moment. We should probably wrap up here.

You have any questions for us? I want to know when you're going to buy your next piece of real estate. Open the fund up. I want to invest in your funds. Seriously. That's what I'm waiting on. The truth is most people. Okay, so let me tell you a quick story.

It was a good ending here for you guys. I once bought a property at auction for $15,000. $1.5, right? Super cheap. I researched it. It came out for auction. Nobody else showed up. the bin. They're like opening a bit, like they're standing in like the lobby of the courthouse.

And they're like opening bid is 15, 112. And I was like 15,113. I get it, right? I then go remodel the property. I spent like, I don't know, 25 grand, something like that. It took like nine months to fix it up. Super annoying. Finally get it fixed up and done. I put on Airbnb for a while. It was kind of cool, super stressful. Like people couldn't get the front door open because they didn't know how to use a keypad and like that's the annoyance with Airbnb. Got tired of that, put a regular tenant in it. that was annoying for a little while up and up and down finally sold the property after like four years of owning it and I and I look at my numbers I averaged it all up on a spreadsheet and I made a 15% return on my money and I'm like that was when I realized it was like that moment I was like

I could have just given my money to somebody else and gotten the same return right now that it's guaranteed but neither is that right and so there is a level people who are higher income earners should probably not be going out there trying to buy the duplex trying to buy the fourplex unless they want to do what I said earlier, and that scale up their own real estate business. But if it's like, I'm going to go and figure out a duplex because I think that'll be a good investment. It might as well just find people you know like and trust,

put your money with them. And it's just way better. So you don't have to buy another piece of real estate, but I'd love to take your money someday. All right. You got my money. Thankfully, Jack cannot invest because he's not accredited. We'll get you there.

Don't get him there. Listen, as soon as he invests to you. It's going to catch fire. Yeah, it's just going to be. Well, then you get insurance on that. There's going to be something that's going to go wrong. So please, that's the one agreement. I will give you money, but you cannot get Jack in there.

You cannot get him in there. Jack is barred from your investments. All right. Anything else is fair game. No. We'll make a special fund just for you and we'll go buy a duplex for you. It'll be great. Yeah, we're going to get you a duplex.

That's great. Awesome. No more real estate, Jack. All right. Thank you so much for coming on. Really nice meeting you. Yeah, you too. It's been fun.

Yeah. Thank you. Guys, thank you so much for watching. You got to do us. quick favor, though, and subscribe, because it's half of you watching are not subscribed, which is not okay. It's totally free to do. That's just rude, actually.

Yeah, I don't know why. It's so easy. Just hit the little button. Totally free, we post once a week. So actually, we might even do a bonus episode if you subscribe. So that's all you got to do and get your free stock down below description. That's it. It's worth all the way to $2,000.

So thank you guys so much for watching and until next time. Thank you. That was awesome. That was perfect. I love that. All right. Good job, guys. It was fun.

Oh, Jackie, you can't do anything right. Come on. That is. Good job. Good job. Please keep that in there.