Wake Up to Wealth - Wealth Through Real Estate with Jay Combes

Episode Date: March 27, 2024

In episode 15 of Wake Up to Wealth, Brandon Brittingham is joined by Jay Combes as they discuss their experiences and insights into investing in short-term rental properties. They emphasize the need for diligence, smart investing strategies, and exceptional customer service in the hospitality business.Tune in to learn about the unique market dynamics and investment opportunities in this thriving vacation rental market.SOCIAL MEDIA LINKSBrandon BrittinghamInstagram: https://www.instagram.com/mailboxmoneyb/Facebook: https://www.facebook.com/brandon.brittingham.1/Jay CombesInstagram: https://www.instagram.com/tnstrpro/Facebook: https://www.facebook.com/jaycombes2WEBSITEBrandon Brittingham: https://www.brandonsbrain.org/homeJay Combes: https://www.investingwithjay.com/

This is Wake Up To Wealth, a podcast dedicated to helping you change the way you think about wealth. And now, here's your host, Brandon Brittingham. All right, what's up, everybody? We are back with another episode of Waking Up To Wealth, and I got my good friend, my homie Jay, here with me today. Thank you for being on the show with us. Yeah, man. Absolutely. Appreciate you having me. So, you know, we kind of talk a lot about investing on this show and different aspects. And it's very fascinating to me. You have a very intriguing model. You know, everybody thinks Airbnbs are sexy and it's great, but you've actually figured out a model in a, in a market that works really well. And it's kind of a high end luxury Airbnb

investing. Like tell us a little bit about it, where you're doing it at, kind of how it works and how you kind of figured it out. Yeah. So we live in the Smoky Mountains, 40 minutes from my house and um for those that don't know where that is where is that so uh pigeon forge gatlinburg tennessee that's the the great smoky national park this gets 14 million visitors a year and that's more visitors than the grand canyon uh yosemite and yellowstone combined per year. Actually, more people visit the Smoky Mountains than Disney. When you told me that, I was like, holy shit.

I didn't know that. When they broke down the stats, I was like, wow. It's crazy because living here, you take for granted that. You're like, oh, it's right in your backyard. We can go there on a Wednesday thinking that we're going to be able to go do something.

And it's slam packed. And so our only downtime the entire year is January, February. And so which makes it incredible market. It's highly sought after. So one thing about our market, it was compressed for many years because before the fires in 2016, you know, most it was very good old boy system. And most of the property managers were on a 60-40 split. So the investor would only make 60 percent and the property manager take 40. And so you can't have great returns.

And so the prices were super low. Well, after the fires, a lot of people rebuilt. They built these really nice cabins and man off to the floodgates. And we've been the top, you know, short-term rental destination for, you know, many years, at least one of the top. And so I got into it literally by luck. I bought my first Airbnb in Destin. And when was that? That was in 2019.

Okay. And then in 2020, a buddy of mine, an appraiser buddy, had introduced me to this property. He said, there's three cabins on this parcel. And then I bought that beach house with two other people. And so, but he was like, dude, you know, this is a great deal. It's three cabins on one parcel. It's doing 90,000 a year. He said they want 600,000.

But I was terrified. Right,000. But I was terrified. Right. Of course. I was terrified. It was my first deal, you know, and I was, I was only been in business, you know, four or five years at the time. And so, you know, I just bought an office building, put a bunch of my money in that. And, you know, thankfully I did. I almost killed the deal like 15 times. Sure. Yeah. But anyways, ended up buying that deal put uh got the rents up the very first year up to 150,000 and um i put probably about 100,000 into them about 30,000 a piece and that so basically 700,000 now it just raised you know this year for 1.5 million yeah so and all the values have gone up so there's just a lot of a lot of uh a lot of

people that want to be there and we are the really nice thing about our market is there are you know i think it's like 18 states within a day drive so you know i'm pretty much anybody in southeast or east united states can be in the smoking mountains within a day drive so yeah very sought after area. So Airbnb, right. So kind of post COVID, you know, a bunch of people got into Airbnb that had never been in Airbnb before. Yeah. I think there's a lot of misinformation on the Internet of how easy it is because I own some Airbnbs myself. Yeah. You know, I want you to talk about, yes, you can get an Airbnb and be successful. Number one, it's market indicative.

You're in a great market. But there's a lot of shit that plays into being successful in Airbnb. Talk about that a little bit. Yeah, so that's actually a great point. Everybody, not everybody, that's generalizing. A lot of people come into the market and think that they can just, one, I see it often that people come into the market and they're like, I want to buy four or five of these and get out of my day job. It requires a lot of, right. It requires a lot of capital to get into a property, right. And it's a lot of work, you know? And so there's a big difference between a passive investor and someone

that's an operator, right. And that An investor and operator. And so if you're an operator, you know, and that's going to be your thing, maybe you have the capacity to do it. You know, there's a lot of technology that does allow people to manage it from afar, but it's a lot of work, man, you know, and there's a lot of expenses that go in it. And if you're not making sure that your properties are taken care of, I mean, there's people that are that are hemorrhaging cash right now thinking that they bought right. Right. They probably hired a real estate agent that didn't know shit. Or they based their numbers off of COVID.

2021 projections. I tell people throw that stuff in the trash because it's not real. No international travel. Right. So you couldn't fly out of the seas. Plus all this funny Yeah. Right. So you couldn't fly out of the seas. Plus, all this funny money. Yeah. Right.

We have all this funny money that was put out into the market. And then, you know, you have all this money and people aren't, you don't have to go to work. Right. And so what do you do? People are allowed to work from home. So they work from home. Or it's like during the thick of the pandemic, you didn't have to show. You're getting your STEMI, baby.

We used to joke around and say, I got me a STEMI check. And so what do you do when you're making the same amount of money as you did, but you don't have to show up to work? Maybe you're making more. Yep. Right? And you're like, okay, well, I can't go. You know, these states, they're closed down. They want me to wear a mask or whatever.

You know, Tennessee's wide open. Florida's wide open. And so, you know, people just flooded. And so people that bought on that, you know, on those projections and baseline, there's people that were paying a premium for it that shouldn't have. Right. Or they just, they didn't think through it. Right. And then interest rates and everything. So there's definitely money to be made. You know, we've got 14, 15 different properties. We're building a lot more. I've got a buddy of mine, Alex, who you met earlier.

He's got a one-bedroom that's pacing to gross over $100,000 a year. Oh, my gosh. Yeah, I mean, it's a phenomenal property. But at Royal, it really boils down to if you're going to to do that, you got to be a hell of an operator. You have to be really good at marketing and you've got to be really good at customer service. Right. Yeah. So, so you, I think you would agree with this. What I learned about being in the Airbnb business is you essentially now are in

the hospitality business. Big time. So you think you're in the real estate business, but you're now in the hospitality business. And then most people that are staying in your property they're on vacation um and frankly they they're expecting it to be flawless and they're you know they're staying with you versus a hotel they want hotel like service and i think that's what people don't get or understand of that's the lift and haul of this business. Yeah. So nailed it, man. And, you know,

people have this expectation that they're, they're paying, you know, Hilton Marriott prices. They got to get that service. They got to get that service. Well, they're staying at a, they're staying at a cabin in the woods, you know, and. And your situation. Yes. Right. And so, you know and you're in your situation yes right and so um you know there's not a maid that's coming and there's not you know it's not it's not like we have in-house people and so stuff happens

you know and so i think that i wish that there was like you know when you opened up airbnb that there's this big disclaimer it says hey you're not staying with Marriott or, uh, you know, the Hilton you're staying at a residential real estate property and that stuff can go wrong. And that, you know, it's not going to be a, uh, you know, a seven minute turnaround of a Butler going or, you know, a guy going up. And so somebody's not in the property that can fix it. Yeah. And so you gotta get somebody out there. It takes a lot of work. And so, and I applaud, you know, it's like now it's like the race to the bottom, just like real estate with, you know, wanting these investors want to skin these property managers and pay them next to nothing because they want to, you know,

they want to protect their yield. Because it is, it's an expensive business. And so you have to be smart, man. You have to be, you know, you have to be smart with a buy. You have to be smart with your rate. You have to be smart with your amenities, you know, to be able to produce a yield. And then you have to have phenomenal customer service. And so setting good expectations on the front end, you know, the more detailed that you go into it, but man, it is like, it is a very intensive, it is not a sit and push away business. And if you're not, and if you're not

staying on top of your properties, man, it can be, it can be a bloodbath. And that's why I see a lot of people will get in these things and they're in and out of them within the last year. Cause they're like, Holy crap, man. Yes, dude, They get beat down and they realize or they don't go out and hire a property manager or they're too cheap to. And then they end up suffering the consequences. But it's a beautiful business. I don't say that stuff to scare people out. No, you're just giving this. This is the reality.

The reason why I asked this and why I wanted to bring it up is because I've had a ton of conversations with people where they're like, yeah, Airbnb, Airbnb, because it's sexy and it's cool. And, you know, everybody. But it's like anything else. Let's let's talk about the reality of what it's like. Absolutely. Yeah. Yeah. Now, let me ask you a question.

This is kind of another, you know, fantasy and dream that a lot of people have. And I've seen this, I've seen people that are able to do this, that they get educated, they get the right management, the right partner in the market to find the property. But let's just say you're, hey, I don't want to go into Airbnb full time, but I want to buy a property in the Smokies because I always wanted to have a vacation home there. So is it possible to do something like that, whether it's Florida, Arizona, you know, market indicative, obviously, but where they can go in, buy it, use it for when they want to use it through the year, not necessarily make a ton of money,

but maybe break even or cover a ton of their costs. So it's almost taking care of their second home for them without them being out of pocket a ton of money. Yeah, so are you asking if that's possible? Yes. Yeah, it's definitely possible, and it's actually more plausible than anything. If you like my properties, I've stayed in and I've got, I mean, dozen plus. Yeah, I'll buy some, sell some. So, I mean, I always, you know, stayed a dozen plus properties. And so I've stayed at my properties. I've got some properties I've never stayed in. I've owned for years. Right. And because, you know, heads and beds, heads in beds, you're not making money with a vacancy.

And so now if you want to, if you're coming here to enjoy this with your family, big difference. If I buy another property down in Florida, I don't care if it's a cash cow money making machine, if I plan on using it consistently. And so philosophy is different. You know, I've got a customer who, you know, bought a property a couple months ago and he first started a million and then I showed him what a million looked like. And then we looked at a million five and then landed a million eight. Yeah. And so, and it was funny because he wanted for personal use too.

Yeah, it is. He was like, I'm going to, I'm going to, you know, it's like, he didn't know what he wanted, but he's like, I want to, I want to do I'm going to, you know, it's like he didn't know what he wanted. He's like, I want to do it for, you know, my family, but I also want to, you know, I want it to pay for itself. And then he was like, oh, I want it to make money. But really, he wanted it for his family and he didn't want it to pay for his toy. Right. You know, a lot of people just want to have that. They want to tell their buddies, man, I got the second home in the Smokies or I got the second home in Sedona or I've got the second home in, you know, in St. Pete or Destin.

And so, yeah, that's actually more probable because, you know, there's a level of strategy behind that, just like everything that if you are staying in it during peak season, well, just know you may be losing $7,000. Yeah. Right. And so maybe you don't go. Playing your vacations not on peak season not on peak season or you do but you're just there's a little bit more strategy because now with technology you

can see the peak weeks yeah and you can okay well if my average you know adr is you know 1800 to this night but i can go you know a week later and it drops down to 1200 well that's a 600 600 a day you know i mean It's like move your vacation week, you know? So, uh, we see a lot of people do that, you know, that have that, that one expendable, uh, or want a second home, but they just don't want to go out and, you know, have a, another $6,000 a month payment. Right. That was somebody else paid for it. Yeah. Yeah. So, um, if someone is like, you know, they're listening to this or they watch this and they're like, you know, they just got this burning desire. I want to go into Airbnb investments.

Like, what is your I mean, that's a large question. Yeah. But what would you say? Where would you say for them to start? Do your homework. You know, I just I just posted a video on this the other day. You don't have to have the big four or five bedroom pool cabin, $2 million, right? Like that's what people know me for. Cause that's what I build. Um, but like, I've also bought

tons. I've built a lot of two bedrooms and I bought ones in two bedrooms as well. That's actually my sweet spot. Yeah. But you can go like I bought this this little one bedroom. It's 600 square feet. Yeah. Bought it for three hundred seventy five thousand dollars. It's five minutes from the strip. It literally looks over the pigeon forage strip.

Make sixty thousand a year. Right. And so somebody could be in that deal. I put like twenty five thousand. Let's call it four hundred thousand. That's a good return. Good return, right? And so I net after everything and then some $15,000 a year, right?

I'm paying $8,000 towards principal every single year. It's not a big headache, right? No, not a big headache. It stays booked. It's little honeymooners, you know, just little weekend stays. Occupancy is good. People that don't, you know, just the weekend stays occupancy is good. People that don't, you know, they rarely complain and it stays booked and it's a good cashflow and property. And I ran a cost

on it, save $25,000 in taxes. So, you know, my cash basis was, was taken care of, you know, year one, year two. And so you don't have to have the big sexy properties, you know, it's like, get down to basics or, you know, there Or, you know, there's ways to go in like fractional ownership with people. You can come in like, you know, we're working on some other stuff like where people can come in on deals. There's different levels of strategy.

So I would just, you know, the one thing that I do, like when I get into something is I obsessively research on it. And so the more educated you get on it, the better. But, you know, just like anything, like if I'm going to go out and I want to learn about investing, I'm going to call a guy like you, right? Like I'm going to go to the path of least resistance, find somebody.

That's what I would do. There's so many resources online like this to do it. And then find somebody who's in that market that has properties. Then that knows their shit. Then knows their shit. Here's one thing I would literally say to anyone out there, never go out and buy any real estate from somebody that doesn't own real estate.

And don't buy Airbnb from somebody that doesn't own Airbnb. Yeah. Somebody that doesn't even own a house is trying to go out and get you to buy a million dollar piece property. A hundred percent. I wholeheartedly agree with that. I tell people all the time, like,

look, I, you know, do I want to sell you a property? Of course. But is, is the commission going to change my life one way or another? Absolutely not. Yeah.

You know what I mean? So it is what it is. I mean, I want to steer you in the right direction so that this is a win for everybody. I think that's the type of motive, but, you know, find somebody who knows it. I mean, there's, there's merit in that, man. Just like anything. Yeah. You want to go with somebody that's got skin in the game.

And quite frankly, I want to know somebody that's going to tell me about all the mud. You know what I mean? Yeah, no doubt. Like scare me a little bit. Or steer you out of the shit you shouldn't be doing. Facts, man. Like scare me a little bit about it so I'm educated. And that way I can make a really good decision on it.

So you just said something, and I just don't, cause this is a show about investing in money. Not to go deep on the diatribe on this, but you mentioned a cost seg and we've had different people talk about this before, but one thing that is super, super like interesting about real estate and why wealthy people do it is because it's a tax shelter. What Jay mentioned is an instrument that you can reduce your taxes through by owning real estate called a cost segregation, where you essentially take a bunch of depreciation one year. We, neither him or I are CPAs, but if you are listening to this, that is one of the reasons why you want to invest in real estate. You need to learn about that. It's what the wealthy do. And it's one of the

reasons why people keep wealth is because they use real estate as a vehicle to keep wealth and to avoid paying taxes. And it's legit and it's legal. The IRS lets you do it. Absolutely. I tell people that all the time, because that's just going to immediately shelter it. But you know, there's the components that the thing I love about real estate right now, and specifically short-term real estate, interest rates are high right now. So most properties are not going to cash flow nearly like they would in the last two years. True. But I've bought more real estate in the last 12 months than I've ever bought in my life.

Because you're getting a better deal. Dude, I'm stealing it on price, labor. Yep. I mean, I've got guys with labor that are, you know, hey, did I do it by the hour? Right. Or, you know, they're coming at me with a fraction of what they're doing. So my basis versus 2020, 21, 22 is compressed. And so I'm in this for the long term.

Right. It's like. I think it's a good point that you make because there's so many people that I'm talking to. It's waiting. Yeah, whether it's residential or investment or whatever. And they're like, well, I'm going to wait till rates go down. And man, that's such a fallacy because everybody else can do the same thing. So now it becomes a crowded market again.

And now you're fighting on every deal with everybody where now if you buy it now and it can work, it's only going to get better. The worst you're buying it at from a term standpoint is now, but it's going to get better as time goes on. But you're also not paying $50,000 or $60,000, probably more than you should because you're not competing with everybody else who's trying to buy the same deal. Absolutely. Well, just think about it, man. Say you could go buy a property in 2021 for a million five.

That's a million for simple math. By the way, just for everybody listening to this, this market that he's in, this is what they deal with. There's high-end cabins and shit. I'm buying $150,000, $200,000 houses. Me and my buddy Alex were just talking about this. We're like, well, we're not moving here.

You have to flip how many homes to make that. That is my niche, man. It's like small numbers, larger. Somebody taught me that very early in my career. It's like the race to a million,

man, it comes in 50 different ways. You can do it 100 times know, a hundred times over, you know, even take, you know, 20 grand, you know, 50 times and you're there. Right. And so, or you can do a hundred grand 10 times. So, but so say for simple math, we'll drop that down to a million, right. But a million bucks, say a property in 2021, and now that property may potentially get someone that's distressed. Maybe they're going through a divorce. Maybe they're burnt out on it. You know what I mean?

And you can get it for $850,000. You get $150,000 worth of equity. Yep. Right? And so, yeah, maybe it doesn't cash flow today. Maybe you're breaking even or maybe your cash on cash is much less. Well, the second that rates go down, then that price goes back up. And now the base is above a million.

Right. And even if it goes back to a million, right, that rate. So you buy at $850, right? One thing I would advise everybody just on these DSCRs, they've got these 5, 4, 3, 2, 1 rate locks. Man, listen, go and pay a higher rate today with no penalty. And that way, you know, let's say that it takes, maybe it takes two years for rates to come back down. Don't get in a situation where you're paying a big fee.

Get yourself in a situation where you're paying a higher rate today. Who cares if it's cashflow in a little bit? Because what happens is 24 months from now, which I can't predict the future, but I'm saying let's all, we're all in a hopeful situation. Rates, rates come down. You've already got a lower basis in the property. Now you're now because you bought 850, you already, you put 200 grand down on it. You're in this deal, 650, you go refi it, right? You probably go get a hundred back out of it. Right. And now your rates there at a lower price versus that

person that's now coming in at a million to get the same rate. And they're having to bring more cash to cash the deal. And so that's my play. Yeah. And, you know, and I advise and I think that the people that are smart, you know, it's like Warren Buffett strategy. He's he's he's he's pulling back when people are getting greedy. Right. But he says, listen, he said, when everybody's running, dude, it's time to have a bloodbath. And so that's my strategy. You know, I'm not, there's a whole lot, you know, guys smarter than I am, but I think that it's just common sense, you know, supply and demand. Well, it's not common sense of most people. Well, it's common sense for people that- For good investors. For good investors. Yeah, no doubt my one of my uh my personal journey

in the airbnb is kind of what you talked about so i bought a property just for myself and i had not planned on getting into short-term rentals at all yeah and i put it on the market and it was like holy crap it booked out yeah and then i started uh getting some income on it. And that's how I got into STRs. And then once I learned through the mistakes of my own property, I was able to get good at it. That's when I went out and did some other things. But to your point, if you don't get educated and know it and understand it, you can certainly get your ass handed to you. Absolutely. Well, I think that if you just, just to simplify and not to overcomplicate things for people, but if you look at just dollar for dollar versus a short-term rental versus a long-term rental, banks love long-term rental.

Yes. Right. It's safe. Right. But I look at it from a standpoint is how many dollars am I making per dollar from a short-term space versus long-term space? My expenses are much higher on a short-term space. I've got cable, I've got utilities, all these other things. But typically, I'm in a situation where I'm getting $2.50 to $3 per every $1 on long-term. And so it made sense. And I'll tell you a story on this. You talked about your first deal. You didn't know. I bought a duplex. It was the second property I'd ever bought. And it was actually, I think it's my first Airbnb.

Excuse me, my first one in Tennessee. But it was this little duplex and bought it. And I had nothing in it. It was like $130,000. It had like 3%, 5% down in this deal. So nothing, right? Put a renter on one side. And then I was like, I was going to put a renter on the other side.

And I was like, you know what? I'm just going to go. This place has like a couple hospitals. It's got a plant next to it. I'm just going to throw it on Airbnb. See what happens. Spend $10,000 on some furniture and we'll see what happens. And dude, I went $30,000 on this one side, this little duplex that would normally rent out

for like $800 a month. And so of course, what did I do? My, my other tenants on the other side, I said, Hey, y'all want me to go buy a house, right? I said, let me add it. Let me get you, let me, let me let you out of your lease. They bought a house with me. So it was a win for me too. And then put it in that property every year has, has made, you know, between 55 to 65,000 a year on a little duplex I bought for 130,000. Yeah. So I sold it last year. Dude, insane. So I ended up selling that property last year for 315,000. Cause of the cashflow. Cashflow is insane. Right. And so, I mean, the cash on cash return and the total cash profit, it was absurd.

But it goes to show you. It's like I'm not educated, barely graduated high school, dropped out of college three times. But one thing I learned quick is real estate. And it's like a duplex, a little single-family home. A lot of wealthy people love it dude exactly and it's just one of the things it's like you can see it you can touch it you can feel it you can go stay in it you know i mean like you can go out and depreciate it and you can

borrow against it and it never goes to zero and it never goes to zero and regardless if you go scr you get a long-term rental no matter what you can get a fixed amount of income from it every month. That's predictable, regardless of what's going on in the economy. 100%. Well, you know, like Grant Cardone talked about all the time. He's like, you know, you can go out and leverage 80% of it, right? So you can go on a million-dollar property. You can go out and put $200 in the deal and go buy a million dollars worth of evaluation.

Well, you can't go out and borrow money to go buy stocks, or you can't borrow money by crypto. You can't borrow money, right? You can, but it's expensive and risky. I didn't even know that, right? So, listen, I'm learning something today, too. So, it's expensive and risky. And you're not going to get that same leverage ratio either. Right. And so, but the beautiful thing about that is.

Unless you pay a shit ton of money for it. Like you're paying a ridiculous rate to get that leverage. Yeah. So, yeah. And that's, that's above my head, right? It's like, you're smarter than me. You probably went to college. So, okay.

Well, the two dummies on the, on the, on the investing podcast, I love it. But, you know, you're getting appreciation on 100%. You only have 20% skin. And you're depreciating. And you're depreciating. Yeah. I mean, it's insane, man. It's just I'm grateful that I stumbled into it, you know.

So one thing that I always ask everybody, the show is called Waking Up to Wealth. Everybody has a different version of this. Everybody gives me a different answer, but I always ask, what to you is waking up to wealth? And it can be anything. It's not necessarily money. It's just what is your version of that? Well, I mean, it just depends on the perspective of it, right? So money-wise, like if I wake up to it i just i know that i've got money

you know i made a video on this the other day but i know like when i'm sleeping i've got checks coming in when i'm at the gym i've got checks coming in when i'm out spending money shopping i've got money coming in um and so that's that's a cool scenario right like that like when you realize like you can never work as hard as your money can work for you. And when that really clicks, it is a game changer. Now, wealth is a different perspective. I think that there's monetary wealth. I will tell you this, you know, I've probably had the best spiritual awakening in my life over the last 12, 18 months.

Money will never buy you happiness. Yeah, no doubt. It'll never buy you happiness. And all no doubt. It'll never buy you happiness. And all money does is accentuates the personality that you already have. You know what I mean? A hundred percent. I think that, honestly, last year I was in a situation where, like, I actually refrained from making money. Worked at least nine hours I've ever worked.

And so, honestly, I felt guilty about making money. Yeah. That's kind of how it's funny. Like somebody watches this. So like bullshit. Yeah. But really, I just felt guilty about it. And so, you know, now, like some of the goals that I have is like how much like if I were to go out and make an X amount of dollars. Right. How much money could I give away? Yeah. You know, I mean, I think when you can go out and one, not let money dictate who you are, what you are,

your values, but then you can say, what am I going to do with this money? Yeah. And who can I impact with this? That's wealth, dude. Yeah.

When you can go out and say, Hey, I make money and I, and, and part of this is I'm going to go out and I'm going to give this to people that have never experienced it, or I'm going to go impact somebody's life that they don't know it, you or i'm gonna go out and i see that this waitress is is probably not in the best position and you go out and help that and tip that lady you know 150 bucks on a 30 you know i

mean like that stuff that's just like little things like that you know with most people that watch a podcast or speaking that that like you know they're're not going to ever miss that $100. But on the flip side of that, massive. You know what I mean? And so I think the true wealth on that and what I'm getting at, and like one of the reasons why I'm back in a push mode. I'm like, okay, let's go out and make some money. Because I'm like, how much can I give back to my church? How much can I give back to the community? And that right there has got me fired.

It's like, okay, a buddy of mine told me he had a goal to make $20 million. I said, well, shit, I need to go get to work. You know what I mean? I want to open up my brain to think bigger. But then I was like, okay, I'm not guilty for wanting that. You know what I mean? No, not at all. I'm not guilty for wanting that.

It's like, if I'm willing to go out and put that forward. And that truly, because there's a lot of wealthy people that are miserable. No doubt. No question about it. Miserable. So I think there's a level of contribution, man, that's really, truly. If you want to see fulfillment, that's probably the best word. Fulfilled.

Somebody's happy with it. And there's no amount of money, paper, which I chime real, right, that will ever make you happy. But doing things with it, helping people, dude, game changer. Well, I think that's a good place to end. So if people want to get in touch with you, follow you, whatever, how can they find you? Yeah, STR Pro on Instagram or investing with Jay. It's just a simple website where I've got it to where people ask questions, find us, you know, check out some of the stuff that we do.

Just investing with jay.com. Awesome. Thank you for coming and hanging out with me today. I appreciate you having us. Thanks so much for tuning into this episode of wake up to wealth. We sure do appreciate it. If you haven't done so already, make sure you're subscribed to the show wherever you consume podcasts. This way we'll get updates

as new episodes become available. And if you feel so inclined, please leave us a review on Apple Podcast and tell your friends about the show. It is how new people find us. Until next time. you