The Money Mondays - He Built a $500M Real Estate Empire with NO MONEY - Ben Reinberg 💸 E88

Episode Date: September 23, 2024

Meet Ben Reinberg, the man who built a $500M+ commercial real estate empire from scratch, completing billions in transactions. He’s here to share his strategies for making money. This video is packed with useful advice, so watch till the end... --- Ben Reinberg is a dynamic entrepreneur and real estate expert known for his innovative approach to commercial property investment. With over 30 years of experience, he has successfully developed and managed a diverse portfolio worth billions. Ben is also a passionate mentor, sharing insights on entrepreneurship and personal growth through speaking engagements and his podcast. Like this episode? Watch more like it 👇 Grant Cardone’s BEST Advice for First-Time Home Buyers in 2024: https://youtu.be/3ZuMj6GiIUY Jimmy Rex's Million-Dollar Real Estate Strategy Revealed: https://youtu.be/OWADoFktfHQ Albert Preciado & Marczell Klein's Real Estate Journey & Hypnosis Techniques: https://youtu.be/t-hDyNx36po Making Millions with Real Estate Investing 📈 Albert Preciado & Cole Hatter: https://youtu.be/OQO9hhGQf6I Watch ALL Full Episodes Here: https://www.youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k --- The Money Mondays is a business podcast here to teach you how to make money, invest money, and donate money by showcasing some of the world's most successful people and how they do the same. Hosted by serial entrepreneur Dan Fleyshman, the youngest founder of a publicly traded company in history, this money podcast gives you an exclusive behind the scenes look at how the wealthiest celebrities, entrepreneurs, athletes and influencers make, invest and donate money. If you want to learn more business and investing while you work to improve your financial life, you're in the right place! Subscribe: https://www.youtube.com/@themoneymondays?sub_confirmation=1 Dan Fleyshman, The Money Mondays Learn more here: https://themoneymondays.com Watch all the podcast episodes: https://youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k Let’s Connect... Website: https://themoneymondays.com Podcast: https://podcasts.apple.com/us/podcast/the-money-mondays/id1663564091 Twitter: https://twitter.com/themoneymondays LinkedIn: https://www.linkedin.com/company/the-money-mondays/about/ TikTok: https://tiktok.com/@themoneymondays FB: https://www.facebook.com/The-Money-Mondays-110233585203220/

IRR, for everyone knows, is really a calculation of money in and money out. You invest money with me, it's what am I gonna give you back and how fast am I giving you back. Now your original capital you invest, but also your return. You look at the Alliance Medical Fund, Dan, and you say, okay, well 24% is your track record. If you invested a million dollars,

you're gonna average return back with your capital, about 240,000 every single year. Ladies and gentlemen, welcome to the Money Mondays. We are here inside of an RV motorhome parked in beautiful Newport Beach. I think we're right across from Fashion Island Mall here in front of Ben Reinberg's office. Very excited to have him here. He's done over five hundred million dollars in commercial real estate. And technically he's done billions of dollars in transactions. I'm really excited to dive deep into his mind to ask about how to make money,

how to invest money, how to give it away to charity. As you guys know, these podcasts always run for less than 40 minutes because the average workout is 45 minutes. The average commute to work is 45 minutes. So this episode will be between 35 and 38 minutes for your listening pleasure. So without further ado, Mr. Ben Reinberg, give us the quick two minute bio so we can get straight to the money. Thanks Dan.

I've been in commercial real estate for three decades strictly as a principal. I started when I was 23 years old. I am 54. Headquarters in Chicago from Chicago. We've built over 12 million square feet of office in industrial in our career. We've done billions of dollars transaction. We actually own more than half a billion dollars of commercial real estate. We own whether it's office, industrial, retail. We just launched a multifamily division. We just launched a hard money lending division, which was in high demand from our investors and so long story short I am a real estate commercial real estate expert and then

I'm also getting into tech. We have some tech companies. We're heavy into AI now and then obviously you see my personal brand which we launched two and a half years ago is growing. We have a new TV show which which is coming out and launching, and you're going to be one of our esteemed guests coming up, which I'm excited for season two. And other than that, just it's great. It's great to be in California. Here's my West coast office right outside it. And I love it.

I love the weather. I love the people. And it's been a great rebirth for me to move out to California and launch our West Coast presence. Very cool. So that's what I do. That's part of my hobbies. Well, I'm gonna break down and ask you a lot of questions within there.

So on the make money side, why did you go the commercial real estate route, not residential, not storage units, not RV parks, why do you like the commercial real estate space? Dan, I love this question because I get asked this frequently. When I was a young man and coming from Chicago, real estate space. Dan, I love this question because I get asked this frequently. When I was a young man and coming from Chicago, some of the biggest icons in real estate, especially commercial real estate, live in Chicago. The Crowns, the Pritzker family,

the Sam Zell, you just name it. The biggest icons in commercial real estate were from Chicago. And when I was young, I didn't come from money. And so I said, well, how do I accumulate wealth like these people do? And I did my research, there was no internet at the time, we'd go to the library and read encyclopedias and articles and what we had to do. And I realized commercial real estate had the most billionaires at the time, when I was a kid and growing up and even in my 20s. And I said, well, that's who I want to be. And I always modeled Sam's L. I thought I was going to be the next Sam Zell being from Chicago. I started buying big office campuses. And then when the internet became more prevalent, and even with the pandemic, you could see

more people wanted to work from home. So I took a step back and I said, well, the office space is probably not going to be a great asset class to double down on. So we grew in industrial. And then 20 years ago, in my three-year career, I met with my investors and I said, well, office space is going to be challenging. Even downtown office space is challenging around the country. I said, I think we should get into medical.

The human body's not going to get on a stile. Barack Obama was threatening with healthcare and getting rid of certain programs. I said, no matter what, Dan, the human body is never going out of style. People are always going to need to go see the doctor. And even during the pandemic, when we talked about telehealth and this conversation at telehealth, you can't go get a colonoscopy. You can't get surgery unless you're in person. And so we knew that and we said, you know what, this is a great niche.

We became one of the leaders in medical office space. And then 10 years ago, we got into a niche called veterinarian office. And we realized a lot of people own pets. People are fascinated by pets. We know we've seen, we took a tour of your beautiful ranch and you're the perfect case study.

I mean, we own different hospitals and horse and cattle surgery centers and just a phenomenal side of the business and it ties into our fund that we're raising money for our medical and veterinarian fund and why it's doing so well is because those sectors, no matter what, are pandemic and recession resilient type real estate. So when you're raising capital for fund, what is someone should be looking for? How do they decide what type of real estate fund to invest into? What should they be looking for? It's a great question.

I'm a big fan of diversification. So if you take the Alliance Medical Fund as an example, because that's what we're raising money for, if we're going to have 20, 25 assets on a fund and there are going to be different uses within the medical office space, it's a lot of diversification. That's why we set up funds. What I look, what I look for is, I ask investors, what are your struggles? What have you struggled with? What are you trying to achieve?

What's the desired outcome in the future? And what are you looking to accomplish at the end of the day? And when I understand your struggles, I can help you with the asset class you want. We're like economists in my company. We know before things happen, we're constantly researching. We're looking at the real estate market. We're looking at interest rates.

We're looking at government administrations. We're looking at the different states that we'll invest in. Where's population growth? What I say to people is, yes, you're investing in asset class, OK? And hopefully that makes sense to you, whether it's industrial or multifamilyamily and you understand the asset class. It's also the sponsorship.

And I say this a lot because you're investing in people when you invest. I invest in tech companies, I invest in things I don't understand. It's always the end result is the person running the show. So I say to people, I say, look, what you need to do is really understand how do they solve challenges, okay? When you're in a tough environment, how are they going to get through it? Anyone can pay you a quarterly preferred return, but when the chips are down and things are tough, how are people going to get through those times?

Because tough times don't last, tough people do. So, I invest in people. I do look at the asset class. I look at the investment strategy, and I do my homework. So my suggestion if you're out there and you're gonna invest in a fund or a syndication or a residential home or whatever it is, do your homework, ask questions.

How do you get through challenges? What's your acquisition criteria? What's been your track record? For 30 years we have a high 28% IRR track record, which is phenomenal. In the medical office space, which is conservative, we have mid-20s IRR. So that tells a story to investors.

It says, you know, Ben Riemberg's companies have 200-plus years of leadership team experience. They're not going anywhere. This is his passion. This is what they built their wealth on and their foundation, and that's who you're investing with great quality people that could solve challenges. And so that's what I always recommend to people, because people call me from all over the world saying,

I wanna invest in this and that, what do you think? And that's the first thing I go to is the people. When you say, I'm gonna ask you to break down a couple of things, when you say 20% IRR, what does that mean? Right, so IRR, for everyone knows, is really a calculation of money in and money out. You invest money with me, it's what am I gonna give you back and how fast am I giving you back?

Now your original capital you invest, but also your return. So it's a time value money equation. So what it really means, when you look at the Alliance Medical Fund Dan and you say, okay Well 24 percent your track record if you invested a million dollars You're gonna average return back with your capital about two hundred and forty thousand every single year During during the during the life Trevor's every day during that during that life of that mess During during the during the life Trevor's our video during that during that life of that investor So I take it for granted because I know how hard we work and I know what our expectations are

But to investors it's a phenomenal deal. So I love what we do. I invest in everything we do I'm probably the biggest investor in the Alliance Medical Fund and I do it because It's the core of our business and our company. Our company is based off transparency, integrity, consistency, and expertise. If you work at Alliance, you have to adhere to those standards because that bleeds into our investors. I want our investors to have the seven star experience. I pride myself on it, it's that white glove service,

it's that attention to detail and Everyone's pulling the wagon or the train in the same direction war alliance and that's why it works Because when you know investors come first, it's a marathon business I don't care what anyone says in the world where it's like well I'm gonna fix and flip and do all this and you know what if you're in commercial real estate, it's a marathon business Okay, it's plan on being it for 30 years 40 years 50 years you're gonna build a tremendous amount of wealth it's a wonderful business but you have to commit and people say to me all the time Dan well how have you been in the business long enough it's focus persistence it's continuing to show up

to work every day i don't need to work but i do it because I love it. I also enjoy changing people's lives and creating impact. And I could do that through business and through commercial real estate. So also mentioned the word syndication. What's the difference between investing to a fund versus into a syndication for like one specific building, for example, a project? It's a great question.

So a syndication could be one investment and you're investing it. And so it's a certain structure geared towards that project or that investment. So like one apartment building. Right, it could be one apartment building, one office building, an industrial complex. It could be, a syndication could be you have

two or three assets that you're, and you have one entity, okay, that you're investing in, and it's got a small portfolio, which we do. We might have a medical portfolio, and let's say it's got a small portfolio, which we do, we might have a medical portfolio and let's say it's in Savannah, Georgia and we'll call it Alliance Savannah LLC and let's just say it has three or four properties and medical properties.

You can invest in Alliance Savannah and you'll own three to four properties on your investment. A fund, there's four benefits to a fund and why we create funds and why we do some, there's pros and cons of both. When you invest in a fund, okay, number one, the cost of capital is usually cheaper. Good economy is a scale.

Number two is diversification, which is important to investors. So for example, if you invest in Alliance Medical Fund and you're going to have, let's say you have 500,000 in the fund and you're over 20 assets. That's great diversification because your $500,000 owns all the assets in the fund. That's the benefit. The other thing is scalability. What people don't realize about fund, this is really important, is that we might have a property in Lion's Medical Fund, we sell it, and we have an $8 million gain. And I say, Dan, you know what?

Instead of returning your capital back, we gonna do a 1031 buy three other properties I took one property added three so more diversification more free equity in the fund and now I'm scaling okay and then the fourth benefit is purchasing power when we go out to the brokerage community my acquisition staff and we go out to the sales community in commercial real estate, they know we can provide certainty. Certainty is everything in our business. Ben Reimers' company has a great tracker, he has the ability to close, he has the ability to get debt, he has the ability to raise money, and he knows what he's doing because he's been there and done that. So certainty is so important in our business. And so all these come out when you have a fund. And you have options. Every deal is different. There's not one deal

that's ever the same in commercial real estate or anything. And so for us, we look at with our years of experience say, is this a better syndication or a better fund? Is this something where how are we going to structure it? Because ask me like, how do I structure this deal? And a lot of it's experience. I might structure it where it's, why give your money back, you're diluted. I might give you your money back and you own now 50% of it.

So we did a deal in Las Vegas a few years ago. Bought it for $9 million, famous surgery center. When the shootings happened, they went to this surgery center hospital to deal with people that need blood. And we renewed the lease, increased the rents, UnitedHealthcare is our tenant. We turned a nine million dollar property into a 25 million dollar valuation. Okay, we got a praise. So what did I do? I said, okay, we're gonna pull money out tax free.

We're gonna pay off our investors 9 million bucks. We're 50 50. Every single quarter, which is this month, we distribute literally Dan $300,000 every quarter in cashflow. Now, mind you this, you have no capital in the deal. Right. It's really fervent. How are we going to calculate that return? So that's just one of many that we have in the

portfolio. So I love commercial real estate. I love building wealth. I haven't found a better business. It's very transparent. You can go kick the bricks and mortar of everything we own. What we do in the fund, which is unique is we send out what's called a flyer or a teaser. So before we buy it, we say, Dan, we're buying a building right now in Altamonte, Florida. It's a surgery center. Here's what we're buying. Here's location. Here's the physician group. This is why we're buying it. My goal is you never have to call our office for questions. My goal is you never have a

complaint. Okay, my goal is you might have to call our office for questions. My goal is you never have a complaint. My goal is you might want to talk to me and kibitz with me because you're interested in the business. How did you do this? Why did you do this? Stuff like that. Also, a lot of our investors call for referrals because we ask them, we say, well, who else will enjoy this benefit?

We are a tight-knit family in our investors. We don't let everyone in the door. And when you do come in the door, you usually don't want to leave. And so that's- 24%, I'm not going anywhere. Yeah. So, well, there you go. You're going to have to kick me out. That's right.

Okay. So, we talked a bit about the making money. So, I like to talk about investing. When, as you build wealth and someone out out there is listening, in their career, they go from 100 grand a year, they start making 140, 180, their house goes up 500 grand, all of a sudden they got some extra capital, they got six figures, maybe even more capital.

How do they decide on that first investment of like, should I go invest into the commercial thing? Should I try to buy the fourplex? Should I just invest into a fund and let an expert do it? How do they think about that? When you first start making real money? First of all, phenomenal questions. This is such an important question,

and I'm glad you asked it. Because I was that person, we were all that person when we were starting to make money. First of all, number one is live below your means. Build up your next egg. You don't need the fancy car. You don't need fancy clothes. Six bedrooms. Yeah. You don't need a large house. You know, rent. Um, live modestly when you're young. And even today, like I live fairly modestly with the success I've had. And so, you

know, when you do that, you have, you have what I call, uh, a bail availability of capital to deploy. Dry powder. Dry powder, you know, whatever, disposable income, whatever you wanna label it, right? And so what I would do, and I'm biased, okay, I like transparency in my investments. So, you know, you can invest in a mutual fund. That's what my father told me.

Put in a mutual fund, blah, blah, blah. I can't control what the board director's decisions in these companies are. Now, like we talked about, you can invest in Apple and Netflix and all these great companies and we all use their products and their services and that's okay to do too. But I would say diversify. Take a small amount of money. Invest in hard assets like real estate, commercial real estate, whatever you're looking to do, get some cash flow in the door. Try to invest in things that are going to create cash flows

so you can continue to get wealth. I like investing in real estate, especially commercial, because we have great tax benefits. And I'm also a CPA, so for me, I think it's important. And so you have to have a good relationship with money. Money, when you're younger, I want everyone out there to understand money is a tool. Okay, there's your health, there's resources. And you have to understand and build a good relationship with money. Because if you're not on the same page

with the language you use and your mindset and your resources, you'll go broke. So it's really important that you continue to develop yourself, develop a relationship with money, but know it's a tool. It's a way to get access to certain things. It's a way to be able to survive if you need to. But you have to have that relationship

and understand like, okay, well, if I'm low on money, I'm confident enough, I'll make it back, and I'll always continue to develop my skills. What a lot of people don't do is with the relationship money is they don't continue to develop and grow as a person in order to as the environment changes like when the internet came on and now we have digital currency out there we have different political affiliations and administrations in office, you have to continue to grow and develop into yourself. And so for the younger people out

there listening, is my advice to you is start investing when you're young, invest in hard assets, diversify, don't just invest in commercial real estate, buy a mutual fund. Okay. And then if you have some high risk capital, go buy your Bitcoin. I own that type of stuff. I do some crazy stuff in liquid pools and all this crazy stuff I understand. I invest in technology companies. But start your career investing

in something that cash flows. That's why I like real estate, because I like the ability to kick the bricks and mortar, and I advise young people to do that too with tax benefits. But whatever you do, invest with smart money. I always, you want to align yourself with smart money. Okay, so for example, if I was going to invest in an event company or some of the other niches you have or write a poker question, all the thousands of talented things you do, Dan, I'm calling you and I'm saying, all right, how am I going to invest in this company? We're going to invest together, or maybe it's your investment.

I'm investing with smart money. I don't have to have the answers to everything. But when it comes to commercial real estate, the reason why people invest with Alliance is because that's what we focus on. That's our expertise. They're not investing with us to invest in a crypto fund. They're investing in commercial real estate and hard assets. So invest with smart money, be conservative,

diversify your capital, start slow, do your research, and continue to develop yourself. And you'll see when you get into your 40s, life becomes a lot easier. So I'm gonna break down what I call the 40-40-20 theory. I've been doing this for many, many years and you can adjust the numbers based on the type of investment that you like, that you feel comfortable with. I want to give you the main idea.

So I look at 40% low risk, where I want to make between 5% and 9% for the year, 40% medium risk, where I want to make between 10% and 30% for the year, and 20% high risk. That's that shot at glory. That's cryptocurrency, private equity, angel investments, things like that. That if I get it right Whoo, 4x 8x 12x something crazy happens And if I get it wrong or it takes a long time the low risk and the medium risk will hopefully cover the high risk In the low risk category, this is things like mutual funds

This is the S&P 500 which is average 11% a year for the last 92 years Sometimes it goes up. Sometimes it goes down over the over the long term, the S&P 500 has won. Right now, CDs at your bank are offering 5.1%, which is insane, at Bank of America, Chase, Wells Fargo, et cetera. So you could just have, if you don't even understand how to invest, take five grand, 10 grand, 50 grand,

whatever you got saved up. At least get 5% a year, just so you're battling with inflation at your own bank. So there's no risk involved. By the way, if Wells Fargo, Bank of America, or Chase, something happens to them and they go bankrupt, we got way worse problems in our economy. If a trillion dollar bank goes bankrupt.

And then the medium risk side, this is cash flow and businesses, specific stocks. I like the obvious ones, the Apple, Google, Netflix, Walmart, household name companies, Amazon. If you got spending a ton of money on Amazon or you go to Walmart on time, maybe you should buy a little bit of stock if you drive a Tesla Maybe you should buy some of the best-performing stock of all time. You know what you said something so fascinating I think is so important for your listeners is that we're dealing with record inflation

Okay, the government say eight to nine percent. It's really in the teens. We look at it on a detailed basis So you want to get your money working for you? You're already losing money if you're leaving it in the teens. We look at it on a detailed basis. So you want to get your money working for you. You're already losing money if you're leaving it in the bank. So for example, if you invested in taking an example like commercial real estate, hard assets, and you can average, let's say, 15% of your money, maybe you're breaking even. But at least get your money out there and invest conservatively

and try to at least match inflation or get as close as possible to be able to make sure you're not losing because the US dollar has been really depressed and hopefully that will turn around. But right now you really have to think about what am I doing if my money's left in the bank and I have inflation going on. My dollar's not worth as much. So I better do something with it.

So it happens to be today and this podcast is coming out literally next week Where they fed finally cut the rate? Was the first time in four years walk us through that how much does that change? Why is it so important? What was the actual cut? I heard they cut it was a half a percent That's what I thought. Okay. So here here's the benefit of of the rate cut. Okay. Number one is Let's say you're in residential and you're a mortgage broker. Well, your loans are going to be a lot more attractive. Number one, that net effect is people are going to buy more houses around the country, especially in more depressed

areas are going to be able to afford it. Banks are going to start loosening. Banks, especially in our business, we've seen it because it's really is a preview of what's to come. Banks have tightened the last year and a half, and now they'll have more liquidity from the federal government. What that will allow them to do is get money on the street. That means there will be more transactions, more acquisitions. There'll be more SBA loans, more people starting businesses. So it has a direct impact in the economy of why they're doing it. They're trying to give it a kick because they know inflation, they're battling inflation. They're saying, well, what else can we do because the value of dollars

down goods and services are so expensive in this country. We're not producing any energy. Okay. And everything we do, every product, everything around us is dealing with petroleum. And so if we don't produce energy, and we're a country that's importing in this country, we're in a situation where everything is too expensive. People can't afford to buy homes, send their kids to great private schools if they want to. It really gives people more advantages and opportunities to get involved in business.

Also, if you have a floating line of credit, you're going to see savings on that. So there's so many different benefits of that rate cut, and that rate cut produces growth, and that's the benefit of when they do that. Third topic, charity. Why do you think it's important for businesses and or just family households

to incorporate philanthropy into their life? Well, it's important to me, and it's important to a lot of my colleagues, Dan, because you work so hard to get to a certain point in your life and it's a way to give back. And so not only do I give back through charity, I also give my time. And part of that was when we decided to launch my personal brand, it wasn't about me. It was about how am I going to serve and create impact and help people around the world, whether it's through investing in commercial real estate, teaching about businesses, talking

about how to overcome hardships and different strategies as you go through your career. What can I give back to people and not expect anything in return? And so Charity is very important to me. One of the things we're looking at is I've always had something where I want to you know I'm from Chicago and Chicago is very near and dear to my heart and the south side of Chicago has the most Homicides in the United States a rough area and I said I want to do a show Where I could take a young man or woman from the South Side of Chicago and I could teach them commercial real estate. What would happen to that family and their lineage, their DNA? All of a sudden, he's able to hire his colleagues.

He starts building wealth. He creates a business within his community. And then all of a sudden, he has the opportunity to employ people. That to me is giving back. That's sharing your knowledge, not being selfish, and the ability to help people grow within your expertise. So I always look at what is my expertise in life, what are the lessons I learned, and how can I share that knowledge with people. I can give money to a thousand organizations, but when I can give my time to help people, to me that's priceless. How do we get more wealthy people to understand getting involved in charity?

And the reason I ask that is sometimes people think it's just a check. Like, oh, okay, if I donate this percentage, it's a write-off. How do we instill it into their hearts and into their minds? What do you think? Just from social circles that you talked to. I'll give you an example for me. My middle son, Ethan, had Tourette's when he was a kid. And I didn't really understand what it was.

And I wanted to learn about it more. So I got involved in the National Tourette's Association. They're from New York. They also have a location in Chicago. They have huge events. And it allowed me because it was something near and dear to my heart. And I think the way to get someone that's produced wealth or has money to get involved in a charity is it's got to be, it's got, you got to have that connection. So for example, if there's a lot of people that have

cancer or are passed away from cancer, it's a horrible disease, or it could be diabetes, or it could be just Parkinson's or whatever it is out there. That's when you're able to connect with people. I feel when a charity or a charitable organization can connect on some level with people, that's how you'll get them involved. I think it's very challenging, because you're dealing with human nature,

and people feel like, hey, I'll write a check here right here, you know Being Jewish, you know, especially in Chicago. We donate to jf and and all these different Charities out there, but I would say to really get someone attached is find out what's going on in their life That's how you can sell them be like hey, I heard you know God forbid, you know your son passed away from cancer, and we have this pediatric cancer society. I thought you'd be a good, because you could share your story.

That's connecting with people. And I think when you just ask someone to stroke a check and there's not that connection, it becomes challenging. Last and final question. I ask this to every guest, almost every guest, and I've never gotten the same answer. I have a very strong feeling I'm not going

to get the same answer today. Ben Reinberg, in 100 years from now, 200 years from now, after modern technology, you might have bionic arms and different limbs, and finally time to pass away. And you accumulate billions of dollars hopefully what percentage of your net worth do you leave to those children? To my children I'm hopeful that I don't have to leave any to them because and I'll tell you I'll tell you why I'll tell you why it's not that they it's not that they can't have it but

what kind of lesson am I teaching? I want them to, my kids, I'll give you an example. I always, you know, I did very well in my career and when my kids got into high school I put them on a budget. And I did that for a reason. So I would say, hey Joey Reinberg, you're getting $100 a month for gas, going out with friends and that's it. And it's for 30 days.

And I guarantee you, Dan, when day 26 or 27, that month came, and it was at $4, I would just be looking at the bank account and chasing, saying, and seeing Joey Rhonberg want to eat at home a lot more, or the behavior, but guess what, it was those little skills that teach you the value of dollars. I've always taught my kids that to

be grateful just because dad's wildly successful doesn't mean you are, number one, and number two, you have to earn it. And I've always showed my kids through my actions of earning it, how I treat people. I'm a very humble guy, Dan. For me to get on social media a couple of years ago was a big stretch for me I come from humble beginnings I'm humble and I want my kids to see that and that was a struggle I got on social media because my kids are gonna start Seeing all this and so I wanted to add value when I got online And so for me to answer that question is I would anticipate giving them nothing Because I've instilled the skill set in them

and the foundation that they could be more successful than me and that's my plan with them. And so for me, I would say nothing and hopefully if you're listening to this, you guys are gonna work even harder and maybe build your resources and your niches and they will. They've been giving tremendous opportunities,

my kids to flourish and I'm extremely proud of them and and they're Phenomenal kids and they're gonna do very well and they're not gonna need me, you know I'm kind of like gravy to them at this point. So So Ben hopefully we can come back here to get you on I mean I would have you host the podcast with me because you're so good at all these answers and questions So I'd love to have you back on the show multiple times throughout the year. And since you're only an hour away, we'll just drive back the motor home to come visit you.

I love the motor home. It's fun, right? Who doesn't love the motor home? Motor home just removes friction. It makes it easy for people. I just show up at your office, but it being butter boom tonight, we're launching a mortgage company, elevator funding tonight, the same day as the rate got cut for the first time in four years. Maybe that's an omen. So yeah, elevatorfunding.com will be live for you guys tonight.

Really important, check out Ben Reinberg across social media platforms. He does really great content. He obviously has his own shows, his own podcasts, his own, he's got all these things that are going on in his world so you can get great content from what you heard today. This is the type of episode that you share

with your friends, especially people in the real estate category. Make sure to spread this around with your friends. As you guys know, we've been running this ad free for over a year and a half. We've been staying top five in the charts for over 80 weeks in a row because of your support. So liking, commenting, subscribing, sharing, those things all help. Leaving a review, everything like that helps. And so if you can, especially on this episode, when you have such a great guest, share this episode, check out Ben Ryanberg across social media. I'm going to work on getting him back onto the podcast for a future episode, and we will

see you guys next Monday.