0:02

mic stand broke some.

0:02

I'm improvising right now.

0:07

Hey, at least you're making it

0:07

work. Right.

0:11

All right. How's that? Can you hear me? Oh, much better. Yeah.

0:14

Okay, great. Great. Great. All

0:14

right. Here we go.

0:19

Doing great. Yeah, by the way,

0:19

Wendy, she's freaking fantastic.

0:24

You she gets she should get a raise. Yeah, she's, she's fantastic.

0:27

She is. She is. We've had a lot

0:32

of success. And it's funny she

0:32

she living in dating my nephew.

0:37

So that's how I know her. Oh, interesting. Okay.

0:42

Yeah, keeping it in the family. Yeah, it's always good. And he's

0:43

far enough removed is not

0:47

actually working family. So if

0:47

shit goes sideways, it's okay.

0:50

Right? Exactly, exactly. I told

0:50

her she ever breaks up with her

0:55

with a boyfriend not to take it out on me. Yeah, yes. Very good, very wise

0:58

decision to say that. So let's

1:08

get right into it. Wendy was

1:08

telling me you are a permanent

1:13

investor. Right. So how does

1:13

that work? What is like, what's

1:18

your approach? So, you know, first of all, we

1:19

find the right market to invest

1:23

in, right, we look for a market

1:23

that for me is easy to get to I

1:26

live in South Florida. Okay, you

1:26

know, an area for me, it's easy

1:30

to get to an area that has a lot

1:30

of job growth.

1:34

Okay, that's actually a very

1:34

good point. I didn't hear that.

1:37

Okay. Yeah, that's like, that's kind

1:38

of the holy grail for, for my

1:42

business, it's got to be job

1:42

growth, right, you got to be in

1:44

a market that has a lot of job

1:44

growth, so that it can sustain

1:47

the appreciation and, and the

1:47

value that we want to add to the

1:51

property and increasing rents

1:51

and have enough people to come

1:56

in to rent space from you.

1:56

Right?

2:00

You know, and then we find, you

2:00

know, once we find the city,

2:02

then we go into the path of

2:02

progress, we look where the

2:04

city, you know, where the city is building and, you know, improving the

2:06

infrastructure and where people

2:09

are moving to. And then we reach

2:09

out to brokers, and we tell

2:12

them, this is the area that we

2:12

want to buy in, bring us some

2:15

good opportunities. And once we

2:15

find an opportunity, we'll we'll

2:18

run the numbers, do our

2:18

homework, do our due diligence.

2:21

And then once we put the

2:21

property in the contract, we'll

2:24

start reaching out to our

2:24

investor base, and we'll start

2:27

raising capital. And we close on

2:27

it we bring a property

2:31

management company in there. And

2:31

it Yeah, it's profitable

2:36

code. Do you only invest in

2:36

Florida? Or do you go out of

2:39

state to know out of state most

2:41

of my stuff is out of state

2:41

it's, it's in? You know, we have

2:46

in Texas, Oklahoma, Georgia,

2:46

South Carolina and North

2:50

Carolina. Okay, yeah. I recently from a

2:52

podcast ad invested with

2:57

fundrise and a lot of the

2:57

projects they have me and is

3:00

Texas, so that's where I was

3:00

just asking because I've never

3:02

seen a Florida one. I'm like,

3:02

uh, I don't know if there's a

3:06

full investment opportunity, at

3:06

least for us. Simple guys.

3:10

Yeah, Florida is tough. There's

3:10

a lot of competition. It's a

3:14

tight market, you know, here in

3:14

South Florida.

3:18

Not making a lot of cash flow.

3:18

Right. You're right. Basically

3:22

your your income or your your

3:22

profits on appreciation.

3:27

So So with the tax you for

3:27

appreciation?

3:30

Well, they tax you for everything. Well, yeah. But I mean, is it

3:32

extra there? Well, you know, the appreciation

3:35

is when we sell the property,

3:37

right. Oh, okay. That

3:37

appreciation and the profit and

3:41

then you know, we pull that

3:41

profit out distributed to the

3:43

investors. You know, there's

3:43

minimal cash flow going on in

3:47

South Florida, is because the

3:47

prices are so high.

3:50

Yeah, I would, I would think so.

3:50

Because with this cat, Greek,

3:53

California Exodus, they're all

3:53

going to the places you were

3:56

mentioning, Texas, Colorado, and

3:56

all that. Which I just find

4:00

funny because they're leaving

4:00

California but to bring into

4:02

problems with give it 10 years,

4:02

they're gonna be California too.

4:05

Right. Right. And that's what we

4:05

tell a lot of these new yorkers

4:09

and and Northerners when they

4:09

move into Florida, it's like,

4:12

Look, you're moving to Florida

4:12

for a reason, right? Because

4:14

where you're at sucks. So don't

4:14

come here and bring your things

4:19

and you know, and screw it up

4:19

for us Floridians. Right We like

4:24

you know, we like the freedom we

4:24

like the nose, no state income

4:27

tax, we like all that kind of

4:27

stuff. That's something you

4:30

know, don't come in with your Bs

4:30

and stop making, you know,

4:32

messing things up for us. Give it 10 years, they're gonna

4:34

totally forget that conversation, then it's just

4:36

like we we need more

4:38

unemployment. Right. Exactly. Exactly.

4:44

So then what is what are basic

4:44

sites? Maybe some of them you

4:47

have to pay a premium that

4:47

normal people wouldn't, but what

4:50

are some sites that you look at

4:50

to find property sites, or sites

4:54

or people you call? Yeah, so I call you know, I

4:55

built relationships with

4:58

brokers. Right. So Different

4:58

brokers in different markets

5:03

that we deal with multiple

5:03

brokers, I also build

5:06

relationships with people that

5:06

are boots on the ground, that

5:10

are other investors that may not

5:10

have the wherewithal to raise

5:14

all the capital or have the

5:14

track record or the cash or the

5:17

net worth, or what not to help

5:17

take down the property, but

5:21

they're in the market that I

5:21

want to invest in. So they'll go

5:23

out and they'll do their

5:23

homework, they'll pound the

5:25

pavement, find the owners find

5:25

the properties, do all the due

5:29

diligence, and when they find a

5:29

gem, then they'll bring it to

5:33

me, and we'll work on it. So,

5:33

you know, those, those are the

5:36

two best places that I've found

5:36

to be very successful, you know,

5:44

websites, you know, like loop

5:44

net, or

5:46

you know, any anything like that. It's good,

5:46

but I wouldn't, I wouldn't

5:50

necessarily buy the properties

5:50

that are on those sites. Because

5:53

you know, if you're a good

5:53

broker, new listing a property

5:56

for you even listed, you'll

5:56

throw it out to your 1020, you

6:00

know, great investors that will

6:00

always buy from you, right, and

6:03

then that doesn't pan out, then

6:03

you'll list it, and you'll blast

6:06

it out. And then if that doesn't

6:06

pan out, then you'll put it on a

6:09

website. So if you're going to a

6:09

website, you know, probably the

6:13

brokers network of buyers kind

6:13

of turned it down and didn't

6:17

want to buy it. That's why they're listening. So that it's the this is like,

6:20

indeed, job posting, it's like

6:23

the we have no other choice but

6:23

to put it here.

6:25

Right? Exactly. Yeah, I've, I've been trying to

6:28

get a different job. And it's

6:31

every time I get on that site,

6:31

I'm like, I noticed like 90% of

6:34

time, it's just a scam. I

6:34

shouldn't even try. But, but so

6:39

I have a question for you. I had

6:39

another guy on earlier for

6:42

apartments that sort of super

6:42

excited when Wendy mentioned it.

6:45

What is your approach for

6:45

forming corporations? Do you do

6:50

an sp? Or just a holding

6:50

company?

6:53

Yeah, so each property, the

6:53

lender is going to require you

6:56

to create an sp a single purpose

6:56

entity to take ownership of that

7:01

property. Right. So and then. So

7:01

you have that, and then you have

7:06

another LLC for the managing

7:06

members. So there's two LLCs,

7:10

right, but one that takes

7:10

control of the property, and

7:13

then the managing members that

7:13

manage that asset that manage

7:16

that entity, which owns the owns

7:16

the property. So for every

7:20

asset, we have an individual

7:20

special, you know, a purpose

7:25

entity built and they usually

7:25

LLC is just very easy to work

7:29

with. Yeah, it's whatever state you're

7:29

in you just like LegalZoom. And

7:32

or if you got a guy on the ground, you just call him up and be like, Hey, I'm doing this. He

7:34

gets right on it. Right.

7:37

Yeah. Usually our our sec, our

7:37

Securities and Exchange

7:42

Commission attorney that creates

7:42

the ppm and the subscription

7:45

agreements and all that they do

7:45

the operating agreements, and

7:48

they formed the entities for us

7:48

as well. But they're, you know,

7:51

it's one stop for it's well worth paying a premium

7:53

to them every month. Oh, absolutely.

7:55

Absolutely. Yes.

7:59

So for a commoner like me, who's

7:59

not an accredited investor, how

8:04

would I approach you and be

8:04

like, hey, I want to invest in

8:07

your company. But I don't make

8:07

the 200k a year and have 100k

8:10

just sitting around? And I

8:10

think, what would be something

8:13

you would recommend to them? Well, so there's two, you know,

8:15

there's, you have the accredited

8:17

investors, and then you have the

8:17

sophisticated investors. Right.

8:20

So what you just were talking

8:20

about more than the accredited

8:23

investors, right? You have the

8:23

income, the net worth and blah,

8:26

blah, blah, sophisticated

8:26

investors are people that don't

8:30

have the income, or don't have

8:30

the net worth, however, they've

8:35

invested in the stock market,

8:35

they have Bitcoin, they've, you

8:40

know, maybe have a rental, you

8:40

know, single family duplex

8:44

something, they they own their

8:44

own business. So that's why

8:47

they're called sophisticated.

8:47

Right? Okay. They understand the

8:51

nature of the beast. Right? So

8:51

we're allowed to take up to 35

8:56

sophisticated investors and an

8:56

unlimited amount of accredited

9:02

investors. Okay, so then how would that

9:03

work? Let's say, is it per SPE?

9:07

Or is it just for the whole

9:07

holding company? Yeah,

9:10

no, for every every property,

9:10

you're allowed to bring in 35

9:16

sophisticated investors right

9:16

now, there's certain different

9:19

offerings, right. And I always

9:19

get these confused. You know,

9:22

there's the plat, there's the

9:22

reg D reg, B, A, whatever it is,

9:26

but basically, there's, there's,

9:26

you know, we deal with with two,

9:30

we have, you know, there's one

9:30

classification, one offering

9:36

that is strictly accredited

9:36

investors. Right. So with that,

9:40

when you're doing that one, I

9:40

can go out and I can meet you

9:43

today. And if you're an

9:43

accredited investor, I can bring

9:46

you into a project that I'm

9:46

working on now. The other

9:49

offering says, Well, I can only

9:49

bring in 35, sophisticated

9:53

investors and again, on the

9:53

unlimited investors accredited

9:57

investors that I want, however,

9:57

with a sophisticated investors,

10:00

I have to have a, a pre existing

10:00

relationship with you. Okay?

10:08

That's a tricky one, though. That's a tricky one, because the

10:10

SEC doesn't actually define what

10:14

a pre existing relationship

10:14

means. So, you know, our sec

10:19

attorney tells us look, you want

10:19

to have when they say pre

10:21

existing relationship, it's not

10:21

that you meet a person today,

10:24

and you don't talk to them for

10:24

six months, and then you send

10:26

them a project that you're

10:26

working on, want to be able to

10:30

show Hey, Hawaii, you and you

10:30

had a conversation with them,

10:33

that you're talking to them that

10:33

you engage with them that you

10:35

know them a little bit, because

10:35

the point is, is that you want

10:39

to understand this person, you

10:39

want to understand their

10:42

investing criteria, you want to

10:42

understand their income, because

10:46

the last thing you want to do is

10:46

take somebody take somebody's

10:49

last dollar and invest it now if

10:49

they lose this money, then you

10:54

know, they have no other income,

10:54

they have no other money to live

10:58

on. Right? That's kind of what

10:58

the SEC wants to protect. They

11:02

want to protect what we call,

11:02

you know, the person on the

11:04

street, right, which is just a

11:04

mom and pop somebody who's not

11:07

accredited, not sophisticated,

11:07

from investing with you, not

11:11

understanding the investment,

11:11

not understanding the risk. And

11:15

then, you know, this is an

11:15

investment just like anything

11:17

else. So there's a risk of

11:17

losing your money. So they want

11:19

to protect these people from

11:19

getting into something that they

11:22

don't understand. No, absolutely. And that's one

11:23

of those. Like, I was studying

11:29

the market when the crash

11:29

happened back in February,

11:31

sorry, March last year. And it

11:31

was just one of those. I

11:38

realized a certain point, I'm like, well, do I have to have like $50,000 just to like, get

11:39

into the stock market. Then I

11:42

realized, Oh, wait, it's the I

11:42

got to bootstrap it. I have to

11:45

monitor it more, but I can come

11:45

in. And that's one of them. When

11:48

I was looking at properties, I'm

11:48

like, well, stocks are smart.

11:50

properties are even smarter.

11:50

Especially if all this money

11:53

printing is really smart. It's,

11:53

but then that's where I came

11:58

into the accredited investor

11:58

problem to like, Oh, we won't

12:01

touch you unless you make like

12:01

200k a year and have 100k just

12:03

sitting around for no reason.

12:03

Like, why don't have 100k to

12:06

just burn for fun. Right? So you got to look at the

12:09

offerings that that will bring

12:12

in a sophisticated investor. And

12:12

you got to have a pre existing

12:15

relationship with this person.

12:15

Right.

12:17

Right. Okay, that makes more

12:17

sense. Because like, when I

12:20

applied for one of my, the

12:20

online broker for property, yes,

12:25

so many intimate questions. Uh,

12:25

Mike, this is creeper even in

12:29

the banks. Yeah, yeah. So, you know, we

12:32

have to protect ourselves, we

12:36

have to protect our investors.

12:36

This is an investment it's a

12:41

risk anything is a risk

12:41

opportunity for you know, that

12:45

there is a chance that you that

12:45

you lose your your investment.

12:48

And we, you know, myself as a

12:48

syndicator, someone who's put

12:52

these projects together, you

12:52

know, I don't want to take your

12:55

last dollar from me, I don't

12:55

want to have someone like that

12:59

in our investment pool because

12:59

God forbid something happens.

13:02

You know, like, God forbid, there's another pandemic, there's another shutdown and we

13:04

lose the property and, you know,

13:07

you lose your money and then,

13:07

right, that's, that's, that's a

13:10

scary situation to be in. So,

13:10

you know, we want to make sure

13:14

that first of all, we're taking

13:14

care of the property because

13:16

when we take care of the

13:16

property, and we could take care

13:19

of the investors and when we

13:19

take care of the investors and

13:21

everybody's happy, and you know,

13:21

really got to be in a position

13:28

that you can invest and so that

13:28

you can sleep quietly at night

13:31

and not worry how soon to lose

13:31

your clothes your car or

13:36

anything like that. Yeah, and just the little bit

13:37

the nature of the beast with the

13:41

if you get a margin call with

13:41

the bank. That's that is not a

13:44

fun ride. We saw that back in an

13:44

await

13:48

Absolutely. So then let's go into that real

13:50

quick. Do a crash. How did you

13:54

were you in the market at that time? I was I was in Israel at that

13:56

time and Okay, he's in Israel.

14:02

Okay. So then how did our crash

14:02

affect you?

14:09

Well, you know, so the crash so

14:09

what happened you know, during

14:12

that time, right, so properties

14:12

here in the US dropped over 50%

14:18

right the values just plummeted.

14:18

You know, we live in a big

14:23

country that a lot of land

14:23

there's a lot of property

14:25

there's there's a lot of

14:25

everything. Israel is a very

14:29

small country, it's the size of

14:29

New Jersey, even smaller than

14:32

the size of New Jersey. Yeah.

14:32

Right. And there's a lot of

14:39

people, Jews and non Jews that

14:39

move to Israel that love Israel

14:44

that that want to be there

14:44

right? It's the Holy Land. It's

14:46

it's the birth of all three main

14:46

religions in the world, right

14:50

Judaism, Islam and Christianity.

14:50

So a lot of people are

14:53

constantly moving there. And

14:53

there's there's more amount of

14:59

space. When the market tanked,

14:59

here, in Israel that kind of

15:04

dipped a little bit, it didn't

15:04

go flat, like it went here, it

15:08

just kind of dipped a little

15:08

bit, wrote out for a little

15:10

while, you know, it was, you

15:10

know, a year or two, three, and

15:13

then it just started climbing

15:13

back up again, because a lot of

15:16

people were fleeing their

15:16

countries because of the crash.

15:21

And we're coming to Israel. So

15:21

property prices are starting to

15:25

go up again. And even now, you

15:25

know, during the pandemic

15:28

property prices continued to go

15:28

up. Because it's such a small

15:33

place, and there's not a lot of

15:33

room to build. Yeah, now there's

15:38

a lot of skyscrapers going up,

15:38

there's a lot of buildings that

15:40

are going up rather than out. Yeah, you almost have to do it

15:43

like China, where before they

15:46

were building nice, flat, big

15:46

ones. Now just everything

15:49

straight for the moon. Right. And then in Oh, nine, I

15:51

moved to Florida from Israel.

15:55

And I got started, you know,

15:55

fixing and flipping houses and

15:58

wholesaling, because that was

15:58

the lowest hanging fruit in

16:01

Florida. And then once I saw

16:01

that kind of start to dry up,

16:05

and more people come into that

16:05

field that really didn't know

16:08

what they were doing. I was

16:08

looking to position myself and

16:14

gain cash flow, passive cash

16:14

flow, right, because I'm one of

16:18

those lazy people, I don't like to work a lot. Work hard now. So you don't have

16:20

to later. Exactly, you know, do you know,

16:23

do it once? Create something

16:27

once and then have it feed you

16:27

forever? right? Correct. And so

16:31

that's when I started getting

16:31

involved in multifamily and

16:34

growing, I bought a four Plex,

16:34

then I flipped the 27 unit

16:38

property, then we got involved

16:38

in 150 units, and 172,000 to 24

16:42

to 40, and so forth and so on.

16:42

Right, and you start building

16:46

your product, you know, your

16:46

portfolio. And at that point,

16:50

you know, we I started, I'm

16:50

still getting phone calls from

16:54

brokers now, and I saw you

16:54

bought this property, would you

16:56

like to buy this one? Hey, you

16:56

know, you're looking to sell

16:58

this. So once you start that

16:58

ball rolling, that's when it

17:02

gets fun, because now people are

17:02

seeking you out rather than you

17:06

seeking people out. Yeah, no, that's that's

17:07

ultimately what will you want to

17:10

get to in anything business?

17:10

Life, it just gets to the point,

17:13

you don't have to keep hitting

17:13

the ground. Now. They just

17:15

they're like baiting you. Mm hmm. Right. Right.

17:20

So for the my first time when

17:20

you were saying the multiple

17:24

layers of duplex the like

17:24

202 160. So I'm assuming every

17:30

time you add a number on top of

17:30

the apartments, it adds a

17:35

massive amount of value that you

17:35

have to cap with a loan. Right?

17:39

Right. Yeah, absolutely. You know,

17:40

long, you know, the price goes

17:42

up, the loan goes up, everything

17:42

goes up.

17:46

So would it be rough estimate?

17:46

I'm not trying to be accurate.

17:50

But so like you said you had 100

17:50

unit? So would it be fair to say

17:55

be about $10 million property? Yeah, so we bought a property in

17:58

Greensboro, North Carolina. epi,

18:05

I would say September October

18:05

that that timeframe of 2019

18:10

bought it for $9.8 million.

18:14

I was close, I was only off by like a quarter of it. But that and we bought it

18:16

for a great price, because it

18:18

was a 2001 construction.

18:22

Oh, that is a really good price. Yeah. And now I'm getting offers for

18:24

you know, around 12 point 5

18:29

million. I want to say I would part with

18:31

it if they could hit 15 or more.

18:36

Right. So you got to look at them. You got to look at the market, you got to look at you

18:38

know your your comparables, what

18:41

people are, you know, what other

18:41

properties are selling for? So

18:44

we're the one of the youngest

18:44

properties in the area, aside

18:48

from the actual new ones that

18:48

they're building, or the ones

18:51

that are already constructed our

18:51

you know, mid 1980s 1990s. And

18:55

they're selling for more than

18:55

what, what we bought it for. So

19:01

right at that price point does

19:01

jump.

19:03

So is it for property value, the

19:03

newer stuff, I would assume it

19:07

actually be more valuable

19:07

because it's newer material and

19:10

all that. I wouldn't think old

19:10

because just even time decay in

19:14

general with time. Everything

19:14

depreciate. So it's, I would

19:18

assume that the new one is

19:18

actually the bigger price.

19:21

Right? Right. Okay, the new ones are

19:22

the more expensive ones right,

19:26

but better amenities. Like you

19:26

said, you don't have to deal

19:29

with a lot of repairs and

19:29

maintenance because it's new.

19:32

The the interior design of the

19:32

units are more updated right

19:36

back in the 60s and 70s. They

19:36

were smaller units. More walls

19:40

everywhere, right. The kitchen

19:40

was blocked off. Nobody wanted

19:43

to see the kitchen. Nowadays

19:43

designed. It's a more open floor

19:47

plan right? The more open you

19:47

are the better it is.

19:50

Yeah. Yeah, I remember visiting

19:50

one of my aunt's house and

19:53

randomly they're just a wall in

19:53

the middle of nowhere in the

19:55

kitchen. I'm like why is that

19:55

there? Was the person like drunk

19:59

or something when they builds like we're gonna build a wall right here, man. Right, exactly.

20:03

You kind of question what the

20:03

architects were thinking when

20:07

they were designing these buildings. Yeah, it was, it was super rad.

20:08

It was like a three by six. And

20:12

I'm like, there's no, there's no

20:12

like use for this. Why is he

20:16

here? Exactly, exactly. So yeah, so

20:18

all that adds to the value of

20:21

the asset. Okay. Right.

20:21

Obviously, you know, newer

20:27

windows better, right? new new

20:27

construction material. You know,

20:32

with the older properties,

20:32

you're going to find a lot of

20:35

plumbing and electrical issues,

20:35

right? window is not working.

20:38

Right roofs are, you know,

20:38

getting old and need to be

20:41

replaced. So there's a lot of a

20:41

lot of that app x capital

20:46

expenditures, right, the repairs

20:46

and maintenance that you're

20:48

going to have on the older

20:48

properties that you may not

20:52

have, or that you won't have on

20:52

newer properties.

20:56

That's true. Yeah. So you were

20:56

mentioning property manager

20:59

earlier, I'm gonna try to tie it

20:59

into this. So I have a buddy

21:02

that I do martial arts with,

21:02

he's a property manager, but he

21:04

does not do repairs. So I'm

21:04

assuming your property manager,

21:08

managers will charge you a

21:08

little bit of an extra premium,

21:11

but they will actually do the repairs, right? Well, you have a maintenance

21:14

person on site. So there's, Oh,

21:16

interesting, okay, there's, you

21:16

know, it's an employee, right.

21:20

So you're paying somebody for

21:20

maintenance. Now, depending on

21:23

the size of the asset, right. So

21:23

for, you know, a 10 unit

21:27

property, you may not have a

21:27

maintenance person on payroll,

21:31

it just doesn't make sense. So

21:31

you'll have, you know, vendors

21:35

that will come out right, a

21:35

painting crew, somebody, they'll

21:38

take care of drywall, or a C or

21:38

roof or something like that,

21:42

that you'll call when, when

21:42

there's an issue, right. But for

21:46

the bigger so that you have an

21:46

onsite property manager, now,

21:50

for the really big assets to 300

21:50

units, you'll have an on site

21:53

property manager, you have a

21:53

leasing man, you have a leasing

21:55

agent, maybe you have an

21:55

assistant property manager, you

21:58

have a maintenance guide,

21:58

corridor. So you know, you'll

22:02

have a whole team. So it all

22:02

depends on the size of the

22:04

property that you're that you're

22:04

dealing with.

22:08

Yeah, no, I never really thought

22:08

about it, when you get to the

22:10

bigger that would be like the

22:10

skyscrapers, right, the 200 plus

22:13

units, when I say skyscrapers, but you

22:14

know, you can also have garden

22:16

style to floor apartments that

22:16

are just spread out, you know,

22:21

across several acres of land,

22:21

right. The more of this city in

22:27

the downtown cities, yeah,

22:27

you'll have the you have the

22:30

buildings that go up. But when

22:30

you're going to the outskirts,

22:32

the properties are laid out more

22:32

spread out.

22:35

So are you more of like a just a

22:35

residential apartment? Or do you

22:40

also get in like full on

22:40

warehouses too.

22:43

We don't do warehouses. We have

22:43

my partner and I we have a

22:47

hotel? in our portfolio, we have

22:47

a glamping resort. My family and

22:52

I we have several office

22:52

complexes, as well. But my core

22:59

business is multifamily. That's where the consistent cash

23:01

flow and everything is.

23:06

Yeah, that's that's it's it's

23:06

the it's the beast that we know.

23:10

And we contain easily. Yes. It gets a little out of

23:11

hand. It's like no, no, no, not

23:15

today. Right. Exactly. And so then, with the while you

23:18

that you got a lot of property,

23:23

I'm trying to figure out what question for each. So for the the commercial, the offices and

23:26

stuff like that. How is you just

23:29

call your brokers again, right. Yeah, yeah. So you know, so the

23:31

offices and whatnot. I'm not

23:35

looking to do especially now

23:35

since the pandemic and, you

23:38

know, the whole the whole

23:38

business structure, business

23:43

life office, life has changed

23:43

drastically. I'm not saying that

23:47

it's not going to come back.

23:47

Everything is cyclical, right?

23:50

Yeah. Eventually, can years and

23:50

10 years from now people

23:53

forgotten. Five years from now

23:53

people have forgotten. So

23:57

they're going to go back to offices, they're going to go back to working in an office and

23:58

so forth. But right now, you

24:02

know, we're not looking to buy

24:02

office space. That doesn't make

24:05

sense, right? It makes sense if

24:05

you're a fund or a wreath and

24:09

you have $100 million in your in

24:09

your account. And you know what,

24:14

it's okay, if we buy an office

24:14

building, and not cash flow for

24:17

the next five years, that's

24:17

okay. Because in five years,

24:21

when we go to sell it, the

24:21

appreciation will be there and

24:23

we can dump it will be great

24:23

because we're buying it at such

24:26

a low price. That's not our

24:26

business model, right? Our

24:30

business model and what our

24:30

investors are accustomed to

24:33

buying a cash flowing asset that

24:33

is a an apartment complex

24:36

because people need a place to

24:36

live in a good market. And in a

24:40

bad market during a pandemic.

24:40

And when there's not a pandemic,

24:44

right. People always need a

24:44

place to live. If you're buying

24:48

a property conservatively

24:48

enough, you can pretty much

24:51

outride any type of situation,

24:51

any type of downturn, you know,

24:56

crash and whatnot and then come

24:56

out the other end and continue

24:59

to you know, occupy and

24:59

increased rents and cash flow.

25:03

So that's kind of that that's

25:03

our business model. Right? It

25:07

just so happens that, you know,

25:07

like with the hotel in the

25:09

glamping, these were one off

25:09

deals that, you know, were great

25:11

opportunities. But we went in

25:11

and we took ownership, but

25:15

it was too good of a deal to pass up on. Absolutely.

25:19

So then for I want your

25:19

perspective, because you you did

25:23

it on it, but you would do with

25:23

something else. The overarching

25:27

trend, I agree, we're, at least

25:27

for the next two, three years,

25:30

office is not going to be the

25:30

cool thing. But do you think in

25:33

general, there's been a huge

25:33

secular shift in commercial

25:38

properties like that? Yeah, absolutely. I mean, even

25:39

in major cities, you know, you

25:42

know, years ago, you're looking

25:42

at New York City, for example,

25:45

right. New York City is was like

25:45

Rome, right? Back in the day.

25:49

Yeah, Rome was the place, they

25:49

built the Colosseum, they had

25:53

the gladiators. That was the

25:53

place, right, that was the most

25:56

modern city in the world. You

25:56

know, everybody was like, wow.

25:59

And the thing with New York,

25:59

right? New York was replaced to

26:02

be for everything. Now you look

26:02

at New York City, and it's hurt.

26:08

No, it is by the drones.

26:08

Buildings are being boarded up.

26:12

Is it a good time to buy, it's a

26:12

good time to buy as long if you

26:15

have enough capital to be able

26:15

to, to hold off and wait until

26:22

the cycle comes back? Yeah,

26:22

that's

26:24

a very deep pocket game. Right? Exactly. You know, if you

26:26

can do that, yeah, you'll you'll

26:29

make, you'll make a ton of

26:29

money. There's always going to

26:32

be people that are going to want to buy and all these people are going to come in the next

26:34

generation, and so forth. But

26:39

right now, it's it's it's

26:39

changing the whole landscape of

26:42

commercial and office spaces is

26:42

changing 100%. You know, I even

26:48

saw it change when you know,

26:48

when the internet came on, and

26:52

computers and all those right?

26:52

Before, you know, before we had

26:57

cell phones, and the internet

26:57

was just we're just popping in

27:00

websites for being Oh, website,

27:00

oh, my God, you have a website.

27:03

Oh, my God, that's so

27:03

incredible. We were renting off

27:06

that we were renting, you know,

27:06

10,000 square foot office spaces

27:09

to these companies. And they

27:09

were lining the walls with

27:11

computers. And they would have

27:11

100 people sitting in their

27:14

offices, with the massive

27:14

computers and screen, and just

27:18

plugging away doing all these

27:18

things. Now, at all those

27:21

offices have condensed to, you

27:21

know, a fraction of that.

27:26

knology because of what because

27:26

we have the cell phone because

27:30

things are just being condensed

27:30

and moving. So you, you have to

27:35

be able to pivot you have to be

27:35

able to be flexible in your

27:38

business and see the trends, see

27:38

where it's moving. See what

27:41

where it's going and pivot

27:41

yourself so that you're not left

27:44

behind? Yeah, yeah, that's one thing.

27:45

Because all my co workers at the

27:50

current job of Matt, they're

27:50

like, Oh, this is great. Blah,

27:52

blah, blah. And I just looked at

27:52

him like, we got three, we got

27:56

about 8 trillion ish, just

27:56

printed out nowhere. I'm like,

28:00

you think no, inflation is

28:00

coming? And Mike, you have a

28:03

mic. You should have used your

28:03

money invested in rates or

28:06

stocks, because it's going to be

28:06

a sudden, painful day when you

28:10

realize, wow, this brutal I used

28:10

to pay 40 cents for now. It's

28:13

like a buck 40. Where did this

28:13

come from? It's like, well,

28:17

he'll ask for it. That's right. Yeah, absolutely.

28:18

You got to put your money, you

28:23

got to put your money so that it

28:23

can make you money, right?

28:26

That's, that's the secret of the

28:26

wealthy, right? leverage,

28:29

leverage your money, put your

28:29

money in so that it can work for

28:33

you, right? We're always taught,

28:33

go out and get a job. get

28:37

educated, get a job, spend your

28:37

40 hours a week get paid, right.

28:41

So basically, what we're doing

28:41

is we're exchanging our time for

28:44

money. My time is extremely

28:44

valuable, right? Correct. So I

28:51

need to figure out how I can go

28:51

and make my money works for me.

28:56

Go out, I send my money out. I

28:56

say go out and come back with

28:59

friends. Yes, I'm back with as

28:59

many friends as you can. And

29:02

let's go do it again. That's the

29:02

secret of the wealthy. leverage

29:06

your your money, your energy,

29:06

your your your skill sets,

29:10

everything. Yeah, one thing everyone's

29:12

starting to realize, like I'm

29:15

actually picking up stuff

29:15

they're like, but they've all

29:17

said like you're promising Come

29:17

on, like, for now. I gave it a

29:20

year or two, I'll be fine. So

29:20

they like if we had to read two

29:25

books, just two books and figure

29:25

out where you're at. I'm like to

29:28

Mike, Richest Man in Babylon and

29:28

thinking grow rich. Like those

29:33

are like the two if you're gonna

29:33

read a book that will set you on

29:36

the right path, you'll be ahead

29:36

of pretty much everyone.

29:38

Absolutely. Absolutely. The

29:38

great books

29:41

they are. And that's where

29:41

people like, oh, they're old and

29:44

like, yeah, they're old, but

29:44

they're timeless rules. They're

29:47

laws. They're not going anywhere

29:47

anytime soon.

29:50

Exactly, exactly. There. These

29:50

are laws, the universal truths.

29:56

You know, it's something that is

29:56

that will never be outdated and

30:00

You know, many people write

30:00

books just restating the same

30:04

thing. I've noticed that as I've read

30:05

different books, I just I'm

30:08

like, wow, this sounds a lot

30:08

like Richest Man in Babylon.

30:13

Like, other than the real estate

30:13

investing part. Dave Ramsey's

30:16

saying exactly the same thing,

30:16

get rid of your debt, save 10%

30:19

of wherever you make. But then

30:19

he's like, invest in real

30:22

estate. It's like, Okay, well,

30:22

he didn't say that. He just

30:25

said, make your your children

30:25

make children kind of thing.

30:28

Right? Mm hmm. Absolutely. Yeah. That's

30:28

why and I've been always looking

30:32

I myself, I've been looking to

30:32

write several books. And I've

30:35

always said, Well, what am I

30:35

going to write about? You know,

30:38

the, the, the Laws of Success

30:38

have been written 10 times 100

30:43

times over right and different

30:43

variations. So the the universal

30:48

laws of how to do business and

30:48

how to create wealth. They are

30:52

what they are. Put out, you know, yeah, but I

30:53

would say for you, because you

30:57

have such specialized knowledge

30:57

and corporations and brokers in

31:00

that. See, like, even the other

31:00

apartment guy had he, he never

31:04

even went to, to this much of

31:04

detail to I would go just write

31:08

a book specifically for that.

31:08

For the, you said the non

31:13

accredited with specialized in

31:13

history. Show me this

31:15

sophisticated, I'm gonna have to

31:15

remember that. So radio

31:18

specifically for them. It's

31:18

like, Hey, here's a play by play

31:21

book. It'll take you a little

31:21

longer, but you can actually get

31:23

to me level kind of thing. I

31:23

would gobble that up in a

31:27

heartbeat. That's a good idea. There

31:30

you go. Because it's like, it's the I'm

31:31

not giving the keys away to the

31:34

kingdom. I'm just pointing in a

31:34

direction do this. And you can

31:37

achieve my success. Right? Absolutely. Yeah. Everybody has

31:39

the we all have, you know, we

31:44

all talk about equality and

31:44

being equal. And that's like one

31:46

of the big things now and yeah,

31:46

the whole country, equal equal

31:51

equal. It's not about being

31:51

equal. It's about having equal

31:57

opportunities about all of us

31:57

being able to do the same thing.

32:01

It's just who's going to take

32:01

who's going to step up to the

32:05

plate and do it. Right, right.

32:05

All have, we all want to be

32:10

equal at the starting line, we

32:10

all want to have the same

32:12

starting line, right? The same

32:12

opportunities. But not everybody

32:16

is going to reach the finish

32:16

line at the same time in the

32:19

same way in the same fashion.

32:19

Right. So it's all about it's

32:24

all about taking action. It's

32:24

all about getting started.

32:27

Doesn't matter where you are in

32:27

life, and what position and what

32:30

neighborhood and whatnot, or

32:30

what you know, how much money

32:33

you have in your pocket. You

32:33

know, you can scrounge up 10

32:36

bucks, 15 bucks and go by

32:36

thinking grow rich and get your

32:39

mind, right. And when you got

32:39

your mind, right, then you can

32:42

go out and do anything you want.

32:42

Then all opportunities are

32:45

available to you. You just have to go and pick. Exactly. And everyone aspires

32:47

right. Oh, it's like you. You're

32:52

only rich. If you're like Jeff

32:52

Bezos, I'm like, Nah, that's

32:55

like a freak accident. He got

32:55

there kind of thing. Right?

32:59

Well, look, look, I mean, okay, so let's talk about basis. Right?

33:00

He he started out just selling

33:03

books. Exactly. Amazon was was

33:03

was a platform to sell new and

33:08

used books. And look what it

33:08

turned out to. That wasn't even

33:12

his plan. Right. I

33:14

think I think he said at one of

33:14

his older interviews, he's like,

33:17

I did have more plan, but not

33:17

this much more.

33:20

Right? And then look at Elon

33:20

Musk, right? He started PayPal

33:23

with his brother. Now he's

33:23

launching rocket ships.

33:28

He's got like three companies. It's insane. You know, how do you run money

33:31

that he made in pay pal? He

33:34

invested in Tesla, he took all

33:34

this money that he made in Tesla

33:36

put it into SpaceX. Yeah. But then he has his third

33:38

one, the boring company, but I

33:41

think that one, they don't do

33:41

much. But yeah, it's still like,

33:45

first, okay, from your

33:45

perspective, how do you run the

33:48

three companies like that? I

33:48

would assume you mean, I would

33:52

say that's the hope. So then how

33:52

do you go about vetting your

33:55

team? How do you like look

33:55

close? What are the qualities or

33:58

tests they got to do for an

33:58

interview? Let's say there's so

34:01

an aspiring real estate guy that

34:01

wants to work for you, what

34:04

would be some of the tips and

34:04

tricks like oh, you need to like

34:07

wear a suit and tie or show up

34:07

early kind of thing.

34:10

So okay, suit and tie? Not Not

34:10

necessarily, right. I don't care

34:13

what you want. But you're so the

34:13

way I do it is you know, it's

34:19

kind of a puzzle, right? You got

34:19

to look at your your company.

34:23

You got to see, okay, what skill

34:23

sets do I bring to the table?

34:26

What do I like to do? What do I

34:26

want to do in my business,

34:28

right? What is my highest and

34:28

best use in this company? Then I

34:32

look and I show and I say, what

34:32

parts of the puzzle Am I

34:36

missing? Okay, I'm missing this,

34:36

this, this, this and this,

34:39

right? So if I'm looking for my

34:39

real estate investment company,

34:42

I'm on saying well, you know, I

34:42

need someone who can underwrite

34:45

someone who can be my Investor

34:45

Relations. Someone you know, I

34:50

need a CFO, I need property

34:50

management team. I need

34:54

attorneys on my team, right. I

34:54

need someone who can analyze

34:57

underwrite and and put out

34:57

offers. So First of all, that's

35:01

what I do, right? And I kind of

35:01

make an inventory sheet of what

35:03

I need, then I figure out, okay,

35:03

who can help me who the people

35:07

that I know and if I don't know these people, then I have to go out and look and and you want

35:09

someone who is going to have the

35:13

same mindset as you someone who

35:13

is going to have the same

35:18

values, the same goals, the same

35:18

aspirations with you, in

35:22

building the company, when I

35:22

tell people that join my company

35:25

say, look, we're a family. And

35:25

as, as I grow, as my family

35:32

grows, you grow as well, right?

35:32

Don't expect that you're going

35:36

to sit down and work for me and

35:36

make me millions. And I'm not

35:38

going to give you back, you

35:38

know, any of that? Because my

35:44

eyes Esther's wrong, right,

35:44

right, that people that are

35:46

working with you working for

35:46

you, partners and whatnot,

35:49

everybody's got got to reap the

35:49

benefits, and the rewards are

35:52

also going to go somewhere else,

35:52

and then you're going to be left

35:55

with nothing. Right? I've always

35:55

said that, you know, I'm not the

35:58

smartest or the sharpest tool in

35:58

the in the toolbox. I need to

36:02

find people who are smarter than

36:02

me, and who know more in the

36:06

area that I need them to fill in

36:06

my business. Right. I can report

36:11

years ago when he was when he

36:11

was building the car company and

36:14

whatnot. He was interviewed by a

36:14

journalist and the journalist

36:17

said, you know, you're not

36:17

really that intelligent. Now,

36:19

what do you know about running a

36:19

business like this? What do you

36:22

know about making cars, he goes,

36:22

Well, I push the red button on

36:25

my intercom. And my CPA walks

36:25

in, I push the green button, and

36:30

the auto engineer walks in, I

36:30

push this button and my sales

36:34

director walks in. I don't need

36:34

to know all these things. All I

36:39

need to know is who can

36:42

I put on my team to help me

36:42

achieve my goals, right? And

36:46

then you know, those person, then you got to work with them to set goals and give them the

36:48

tools and the system to help

36:52

them achieve those goals. And

36:52

then you got to understand how

36:55

to manage people. That's kind of

36:55

the number one skill set that

36:59

someone's sitting on the top has

36:59

to knows, how do I manage my

37:02

people and keep conflicts to a

37:02

minimum and keep them motivated

37:06

so that they can go out and be

37:06

their best?

37:09

Absolutely, yeah, that's one

37:09

thing as I've interviewed

37:12

multiple people to say the same

37:12

thing, just worded different,

37:15

but the one so for you, how do

37:15

you keep your morale that at

37:18

least, uh, you know, up in your

37:18

business? Because that's

37:23

something I worked on with, oh,

37:23

good, good. Make me really don't

37:27

pay you later. Well, we reward them, right? We

37:29

reward people for doing

37:34

exceptional work. Okay,

37:34

rewarding can be in many

37:38

different ways. It could be, you

37:38

know, taking an extra day off,

37:40

you know, I want to increase

37:40

your salary, right, we're going

37:44

to do this for you, we're going

37:44

to, you know, whatever it is,

37:47

but what also what I like to do

37:47

is I like to talk to my people

37:50

and say, so, you know, if you if

37:50

you were to get rewarded for

37:55

accomplishing and excelling and

37:55

exceeding, you know, my

38:00

expectations, what would that

38:00

look like? Okay, and I would

38:05

hear from them what it would

38:05

look like, because everybody's

38:07

expectations and desires and

38:07

needs are different, right? For

38:12

example, one of my regional

38:12

managers, they also own a

38:16

property management company. So

38:16

one of my nice, her cell phone

38:21

was always flaking out on her

38:21

right. And when I was visiting

38:24

the properties, you know, she

38:24

would show it to me shows, look,

38:27

look, and her phone would just

38:27

go berserk and very difficult to

38:31

text and to talk and to listen.

38:31

And she was complaining all the

38:33

time. Now, I'm gonna do the

38:33

regular cell phone, I'm not

38:38

gonna buy her the hottest up to

38:38

date,

38:40

the three 4001 is just gonna

38:40

chip away five $600 one,

38:44

not even right, even less. Yeah,

38:44

my phone, how much is that?

38:50

Right? But that, that that show

38:50

of appreciation creates more

38:59

loyalty. You know, so for

38:59

example, one day When, when,

39:03

when I was visiting my property,

39:03

she got a flat tire, we stuck on

39:06

the road, you know, triple A

39:06

came and they changed a tire and

39:09

she came in she's riding on this

39:09

little donut. And she lives

39:13

about an hour away from the

39:13

property. So I told her I said

39:15

look, you stay on the property

39:15

you keep doing what you're

39:18

doing. Give me the keys to your

39:18

car. I went 200 bucks. I went I

39:22

got the tire changed for her.

39:22

You know and she has like a

39:25

three year warranty or whatever

39:25

it is on the on the tire. I came

39:28

back I said here you go. She was

39:28

like oh my god, you did that for

39:30

me? I said yes. Because I can't

39:30

afford you could get another

39:34

flat tire right? Right. And then not show up at

39:37

the property and Natalie up but

39:40

but I want to show you that

39:40

we're taking care of you and

39:43

your family. that builds loyalty

39:43

that builds trust that goes you

39:47

know, she wants to do more now

39:47

for us because of that. So it's

39:50

a little tiny things that you do

39:50

for people that you know go a

39:55

long way is sometimes it's even not the

39:57

one that costs money. The one

40:00

that you didn't even pay for the

40:00

most meaning for the employees

40:04

for anyone. It was like 100

40:04

bucks. That's, that's nice. But

40:08

it was the action of you taking

40:08

your time to go do that, for her

40:10

meant the world. But like, first

40:10

normal people say, how do you

40:14

how do you price that thing?

40:14

Well, that's the point. Right?

40:18

Exactly. That just, it shows

40:18

them that we're thinking of

40:22

them, that we understand that

40:22

they're human, that they're

40:26

people, that things happen. And

40:26

you know what, we as a company,

40:30

we support you, and you're part

40:30

of the family. And that's what I

40:33

would do for anybody in my family. Yeah, we are, you'd go above and

40:34

beyond, it's like, oh, you're

40:37

stuck in the middle of nowhere,

40:37

like, well, you're gonna have to

40:39

give me a few to get to you. But

40:39

I'm getting you out of there.

40:42

Right. Exactly. Yeah. So then, with the mindset of

40:45

like, the Ford and the teams,

40:53

the how, what I was trying to

40:53

allude to earlier with the

40:57

vetting thing. So like a few

40:57

CEOs I've talked to, they have

41:00

this thing where like the lever

41:00

book on the floor. And it's

41:03

like, if they pick it up,

41:03

they're there, they pay

41:05

attention to detail kind of

41:05

thing, or one of them, he does

41:09

coffee, he takes him to break

41:09

room shows him where he got,

41:12

like, make them a coffee, and

41:12

they're talking. And then at the

41:15

end if they leave that, so if

41:15

they take it back, he hired some

41:18

kind of thing. Do you do

41:18

something like that? Or is it

41:20

more just right? So you know, I'll give

41:22

you an example. We bought a

41:24

property in San Antonio, Texas,

41:24

and I went out there when we

41:27

closed and I was walking around

41:27

with the maintenance person.

41:30

And, you know, I'm on the owner,

41:30

I'm the boss, right, whatever it

41:34

is, right. And we're walking

41:34

together. And we're walking by

41:39

garbage that was on the floor

41:39

piece of wood, you know, kid

41:43

threw a wrapper. And we're

41:43

walking by, and I'm noticing

41:46

that this guy is not picking

41:46

anything up. I mean, walking

41:50

with me, interesting. I'm the

41:50

one that's picking this stuff

41:53

up. And he's talking to me, and

41:53

we're walking. So, you know, I

41:57

immediately went to the property

41:57

manager, the onsite manager, and

42:00

I said, You're not gonna work

42:00

for me? Yeah, if he knew two or

42:04

three days in advance that I was

42:04

coming, why didn't he go and

42:06

pick up and make the property

42:06

liquid? Why is it that I'm when

42:10

I'm walking with Him? Right?

42:10

He's not picking up the garbage

42:14

as I'm walking with Him. There's

42:14

something wrong there. Right?

42:18

Well, yes, you know, we always

42:18

do things like that, you know,

42:21

we're always looking at, at the

42:21

type of person and what they're

42:26

looking at versus what we're

42:26

looking at and how they do

42:29

things. Right, okay, the

42:29

property manager, if I'm walking

42:32

around my property manager

42:32

around the property, and I see

42:35

him or her picking things up as

42:35

we're walking along, okay, they

42:38

understand and they see it. But

42:38

if we're walking along, and I'm

42:41

the one picking it up, I'm going

42:41

to have a conversation with

42:43

them. Like, really? what's

42:43

what's going on here? If this

42:45

continues this way, I'm gonna

42:45

have to go. Right, obviously,

42:49

you're not concerned with the

42:49

things that I'm concerned about.

42:53

You're not looking at the

42:53

property the way I'm looking at

42:55

it. And if you're not, then

42:55

there's a there's a disconnect

42:58

here. Right? Like, I agree with the

42:59

rubbish on the grass while

43:01

you're walking. That's terrible.

43:01

But like, I knew a guy he

43:05

completely freaked out if this

43:05

like one corner that no one

43:08

would ever see was raked out

43:08

from Lee, it's it's like, dude,

43:11

even for me, it's like, the

43:11

customer is not going to see

43:13

that kind of thing. But it's

43:13

like for you, I would totally

43:16

understand where it's like the

43:16

business, just the details kind

43:19

of thing. Right? It? It's always in the

43:21

details, right? God is in the

43:24

details, devils in the details,

43:24

whatever, however you want to

43:27

say, right? It's all those

43:27

details. Because the details is

43:30

what makes it work, right? When

43:30

somebody walks into a new unit

43:34

when you want to lease and

43:34

they're looking and you've got

43:36

paint spots all over the place.

43:36

I mean, the painter did a crappy

43:39

job. So you got to get rid of

43:39

that painter. Right? If so it's

43:44

the little tiny things that that

43:44

make a huge difference in

43:48

everything. Right? Yeah, I mean,

43:48

think about it. A little stupid

43:52

little comma, little comma can

43:52

make a difference between

43:57

$10,000 $100,000 and so forth.

43:57

Right? Yeah, that happened to

44:03

me. Once that little comma, I

44:03

was sending a wire for $10,000.

44:07

By accident, I sent $100,000

44:07

with a comma, zero, I

44:12

immediately call the bank

44:12

immediately, right? It's that

44:15

little details that you got to

44:15

pay attention to. Now, if you're

44:19

not a detail oriented person,

44:19

which is fine. He's got to have

44:23

somebody on your team that is

44:23

detail oriented, but they can

44:27

look at the details and they can

44:27

pick that out and they can say

44:29

hey, you know what, look that I

44:29

wasn't dotted. That comma was in

44:33

the wrong place. That letter was

44:33

misspelled that word was not in

44:36

the right place. Those numbers

44:36

aren't correct. That spreadsheet

44:39

is off. Got to do that right?

44:39

details, especially when you're

44:43

when you're running an

44:43

investment business. And you've

44:45

got numbers, CAS numbers, you got to know the

44:47

details. You definitely need to

44:50

know your math even unless you

44:50

always have like a computer

44:53

calculator on yours. Like,

44:53

you've got to know your math.

44:56

Absolutely. So essentially Cuz

44:56

you brought up something I was

45:01

gonna mention what but you went

45:01

right into it. So let's say an

45:06

aspiring company, great

45:06

strategical thinker, very macro.

45:09

But because he's very macro, he

45:09

or she, they don't see the micro

45:13

will that would be the where you

45:13

need to get the, like, either of

45:17

co founder or whatever to join

45:17

you. That's the annoyingly nitty

45:20

gritty. Absolutely, absolutely. So, you

45:22

know, my business partner and I,

45:25

that's why we work well

45:25

together. I'm the macro, she's

45:27

the micro. Okay. Awesome.

45:32

We, you know, I move the

45:32

business forward, I kind of give

45:35

it the direction I, I deal with

45:35

everyone, and then on the big

45:39

picture, whatnot, but then she

45:39

looks at all the details, right?

45:41

Especially when we're buying an

45:41

asset, you know, the numbers,

45:44

the documents that, you know,

45:44

the spreadsheets, all that

45:47

stuff. Interesting, okay.

45:50

So then, was this this, like a

45:50

former partners, like a person

45:55

you knew, or just through a

45:55

friend of a friend, you found

45:57

her, we went to the same networking

45:59

events, we say, when purchasing

46:03

real estate conferences and

46:03

whatnot, we kept seeing each

46:05

other at the time, she was

46:05

living in Miami, and I was

46:08

living in Boca, and I told her,

46:08

I said, Look, you know, it's

46:11

kind of stupid, we're probably

46:11

going to be going after the same

46:14

properties, we're going to be,

46:14

you know, competing against one

46:17

another. And the only people

46:17

that are really going to win

46:20

when we compete against each

46:20

other as the as the owners of

46:23

the sellers, because we're going

46:23

to bid the prices up and up and

46:26

up and up. And, and at the end,

46:26

they're the ones that are going

46:30

to win. So why don't we combine

46:30

forces and then together, we'll

46:34

probably be able to achieve a

46:34

lot more faster.

46:37

Know that very smart. Instead of

46:37

trying to fight your enemy,

46:42

mutual agreement, join with them

46:42

and even become allies. It's

46:45

even more smarter approach. Absolutely.

46:49

So then, for that, how did the

46:49

How did the agreement happened

46:56

with you to for us, like, you're

46:56

the big picture, but she's the

46:59

nitty gritty. It was just

46:59

personality strictly like you

47:03

knew that's what she needed to

47:03

do. Yeah, so

47:07

you know, I, you know, from

47:07

hearing the questions from from

47:09

listening to her at the different conferences, and the questions and whatnot. You know,

47:11

I understood that she was a lot

47:15

smarter than me in, in

47:15

spreadsheets and excel and all

47:21

that. And, you know, she has a

47:21

double Master's in economics,

47:24

international economics, right.

47:24

Wow. She, she, Brainiac. Yeah.

47:29

Right. So that's why we, I went

47:29

after it, because I knew she was

47:33

a person on my team that I

47:33

needed, because that was

47:35

something that I was lacking. Okay, so then is she just what

47:38

is it like you're the CEO, and

47:42

she's like CFO, or like

47:42

president or both? You're both C

47:46

suite equal? Yeah, we're both equal is just,

47:48

you know, she kind of takes a

47:51

different part of it. And I take

47:51

a different part of it, right?

47:53

We just kind of split the pie

47:53

and say, Okay, this is what you

47:56

take care of, this is what you take care of. Okay. Yeah, that's very, very

47:58

understandable and agreeable in

48:02

general. So then, wow, I'm like,

48:02

I'm running out of questions,

48:07

because like, you've hit it so

48:07

precisely on what are recent

48:13

projects? Now you're going into

48:13

with the COVID kind of thing?

48:16

Like you were mentioning all the

48:16

Texas in that, but is it more

48:20

duplexes? Or is it actually just

48:20

neighborhood tracks? kind of

48:24

thing? Yeah, so so what we're doing now

48:25

is we're looking at a lot of

48:28

properties in that may have some

48:28

government subsidies, you know,

48:33

government, you know,

48:33

assistance, okay. Just because

48:37

people, you know, we're still in

48:37

this closure, and not every

48:41

state is 100% open, and there

48:41

still is craziness going on. So

48:46

to protect ourselves, we're

48:46

looking at markets like San

48:49

Antonio, Charlotte, right, these

48:49

markets that are hot markets,

48:53

we're looking for good assets

48:53

that have a lot of value play in

48:57

areas that are going to

48:57

gentrify, and right now, these

49:01

these assets that we're looking

49:01

at, they have government

49:03

subsidies, they have you know,

49:03

housing assistance and so forth.

49:07

So we're buying those with the

49:07

intent of holding them for

49:10

several years. cash flowing

49:10

them, right, right. And then

49:14

once we're all done with this

49:14

pandemic, and with everything

49:18

and everything starts to you

49:18

open and things getting back to

49:23

normal or people starting to go

49:23

back and working full time and

49:27

you know, things you know work

49:27

the workplace is booming again.

49:33

Then we'll look to probably, you

49:33

know, get back to the same types

49:37

of assets that we were buying

49:37

before the pandemic but right

49:41

now we're looking at properties

49:41

that are either have the

49:48

subsidies, the government

49:48

subsidies, or that the tenant

49:53

base are more professionals and

49:53

that can work from home. Okay,

49:57

there's another lockdown. It's

49:57

okay because They're still going

50:00

to be working. They'll be working from home, which they're already doing.

50:03

Right. Right now, that's very smart. And like I said, you know, you

50:06

always got to be flexible, you got to be ready and be able to

50:08

pivot your business and your

50:11

investing criteria to adjust for

50:11

the market situation.

50:14

Absolutely. Yeah, pivoting is

50:14

key. We saw that back in 2020.

50:19

So one thing I've been thinking

50:19

about cuz you said government

50:22

subsidies? Would I know it's

50:22

more of a higher risk because

50:26

the clientele would investing in

50:26

actual like trailer park

50:29

properties be a very smart move?

50:34

You know, when parallel park I

50:34

mean, if there's an upside to

50:37

it, there's always going to be

50:37

an upside to right. So the

50:41

upside better on a trailer park,

50:41

would it be to improve the

50:45

trailers, make it a you know,

50:45

give more amenities, increase

50:48

the rents, maybe bring in more

50:48

trailers. So it doesn't matter

50:52

what you're, you know, what type

50:52

of asset you're looking at is

50:54

always, you know, by our

50:54

business model, right, other

51:00

people just want to buy for cash

51:00

flow. Other people want to buy

51:03

just for appreciation. So it

51:03

depends on what your business

51:06

model is where we buy for cash

51:06

flow and appreciation. So we're

51:09

kind of in between both, right

51:09

down the pike, if you can raise

51:13

rents, if you can add more

51:13

amenities to add value to the

51:16

property, and then in a few

51:16

years, you can sell it for a

51:18

profit, then yeah, go for it.

51:18

But again, you got to look at

51:22

your exit strategy, you got to look at what you're going to do with the property, you know, and

51:24

what your business model is.

51:28

So in general, because it's a

51:28

very select clientele, usually

51:32

lower income, it's not one of

51:32

those, you can just buy it to

51:35

intend to hike the prices,

51:35

because then you'll lose half

51:37

your clientele kind of thing. Right. Um, but but again, also

51:39

you got to remember that when

51:42

you're buying a subsidized

51:42

property, and it's subsidized by

51:46

the government, the government

51:46

is, you know, you can ask for

51:49

increase in rents, you just have

51:49

to understand the, the process,

51:54

you got to understand the

51:54

timing, you got to understand

51:56

how much can you increase the

51:56

rents, okay, that when you're

52:00

underwriting it, and you're,

52:00

you're analyzing it, you're

52:03

you're running real numbers are

52:03

close to real numbers as close

52:06

as possible. Right? You don't get the real

52:08

numbers until you're actually in

52:11

it, then that's when you hope

52:11

your analyst is really good. And

52:13

you're like, okay, right, right. Exactly, huh. Yes,

52:19

Susie, and that was just one

52:19

thing. I had a very strange

52:21

offer. I was working for a

52:21

construction guy. And he bought

52:25

like, five, six trailer parks.

52:25

He had to sell them due to

52:29

divorce, a divorce. But he told

52:29

me he's like, yeah, taking I

52:32

don't even need to do this. I

52:32

make enough off everyone else.

52:35

He's like, I just do it for fun.

52:35

Right? And that's where I was

52:39

asking, like, how do I get in?

52:39

How do I do it? And he's like, a

52:43

little more complicated than

52:43

just put your money towards

52:45

someone and hope for the best. Right? You got to know what

52:49

you're doing right? In this type

52:52

of real estate, you're buying

52:52

two businesses, right? You're

52:55

buying you're buying the

52:55

property, the land, the

52:58

structure, the brick and mortar.

52:58

So you have to understand that

53:01

you have to understand how to

53:01

add a inspected how to maintain

53:05

it, how to keep it well, and

53:05

then you're buying the the

53:08

business, the rental business

53:08

that's in that property. Right.

53:10

So you have to understand both

53:10

so that you can go out and be

53:14

profitable. Yeah, no, I agree with that. So

53:16

you being the property guy,

53:20

there's a recently I noticed it,

53:20

but it was one of those i didn't

53:23

i don't know how to get in. I

53:23

guess there's a raw land trend

53:27

where you buy Apple land for

53:27

cheap, and just hold it. Okay, I

53:32

know it's probably not your full

53:32

specialty. But how would someone

53:35

go about that? Well, okay, so you know, raw

53:36

land is is is difficult, why?

53:41

They're all difficult. But like

53:41

you said, right? Doesn't matter

53:44

what you're buying, you got to

53:44

know your you got to know your

53:46

right, your product, right. So

53:46

with land you have to go in

53:50

before you buy, you got to look

53:50

at where is it located? what's

53:53

around it? What can be built?

53:53

You know, what are the

53:56

variances? What's the zoning?

53:56

What's the code? What's, you

53:59

know, is there water that is

53:59

brought to the property already?

54:02

Is there electricity that's

54:02

brought to the property already?

54:04

Do you need to bring that? If

54:04

you're cutting down trees? How

54:08

many trees can you cut down?

54:08

Which trees? Can you cut down?

54:11

Which trees? Can't you cut down?

54:11

All that kind of stuff, right?

54:15

So it's not just going in and

54:15

then buying a building and then

54:19

figuring that out? It's a lot.

54:19

There's a lot more to it. Yeah,

54:23

I have a structure already built

54:23

on it. But yes, there's like

54:26

there's a great play and land

54:26

because yes, you can buy cheap,

54:30

right? And then you can either

54:30

build on it, you can sell it,

54:34

you can lease it, you can do a

54:34

lot of things, but you have to

54:36

understand what your what it is

54:36

you're buying.

54:40

Okay, yeah, that's where like my

54:40

martial arts instructor. He

54:44

wanted to buy raw land in

54:44

Fontana back in the early 80s.

54:48

But he's like, oh, there's no

54:48

one here and he's like, but now

54:50

give me like 30 years. He's

54:50

like, everyone in their mothers

54:53

out here kind of thing. I told

54:53

him like, well, it's one of

54:56

those sit in Everly land is

54:56

limited. We will the most remote

55:00

area Do you think no one wants

55:00

to live is probably going to be

55:02

super valuable? Oh, yeah, absolutely.

55:04

Absolutely, man, you have to

55:07

look at the trends, right, you

55:07

have to be able to see where

55:10

things are going. It's a

55:10

crapshoot, and most times,

55:12

right, because if you're looking

55:12

that far out, you know, things

55:16

can change, right? You know, the

55:16

whole economy can pivot the

55:20

whole, you know, the whole area

55:20

can pivot, the city can have a

55:25

new mayor, or, you know, the

55:25

council members may decide to go

55:28

for, you know, in a different

55:28

direction. So you got to, you

55:32

know, you got to understand that

55:32

as well. But again, if you're

55:34

buying something conservatively

55:34

enough, that you can pretty much

55:38

always sell it for a profit.

55:38

Right? You gotta you got to know

55:43

what you're getting into. Right?

55:43

You got to make sure that if

55:46

somebody is buying, if you're

55:46

buying a property, it's not in

55:49

the middle of a lake. Yes.

55:53

That really depreciates really

55:53

quick. I listened to on this RV,

55:59

the motor home once the while I

55:59

told him put you that the water

56:05

house once on a boat, then it

56:05

would work in a lake.

56:09

Right? Exactly. Exactly. The

56:09

houseboat?

56:13

Yes. Well, why did I totally

56:13

miss all that? Um, so one thing

56:19

I've been curious about, and I

56:19

haven't been able to confirm,

56:21

confirm this. I have a very

56:21

terrible feeling with all this

56:26

postponing of mortgages. Do you

56:26

What's your what's your take on

56:31

it? Because I told everyone I'm like, I think it's going to be one of those where instead of

56:33

our every 10 years, this might

56:36

be the catalyst to drive it a

56:36

little earlier, because property

56:39

matters. You got to pay their

56:39

bills somehow. kind of thing?

56:42

Yeah. Yeah. So you know, with this

56:42

pandemic, that happened, right,

56:45

so you had this eviction

56:45

moratorium where the government

56:48

told people, hey, you don't have

56:48

to pay rent. But they didn't

56:52

tell the property owners, hey,

56:52

you don't have to pay your

56:54

mortgage. Right? So we still

56:54

have to pay our mortgage? How

56:58

are you going to pay your

56:58

mortgage, if the tenants aren't

57:01

paying you? You got to go and

57:01

you got to ask for what's called

57:04

a forbearance where they forbear

57:04

your payment for three months.

57:09

And you know, then they divide

57:09

those three months of payments

57:12

into 12, and so forth. But it's

57:12

it you gotta Yeah, that's it's a

57:16

problem. Because now what's

57:16

happening is after three months,

57:19

now, you got your regular

57:19

mortgage payment, plus you got

57:21

1/12 of three months mortgage

57:21

payments on top of that. Yes,

57:27

that can really affect your

57:27

returns, it can really hit you

57:31

hard. It can, you know, there's

57:31

there's got to be careful with

57:35

that. And it's one of those I've told

57:37

people, Mike, it's one of those,

57:41

there's no free lunch. Like that

57:41

said, I think this what's going

57:45

to happen is because they'd like

57:45

you said they made it

57:48

specifically the renders are

57:48

fine. Never worry, you gonna

57:50

think because it lists sadly,

57:50

somehow survive all this? Well,

57:53

they're gonna start hiking the

57:53

price to make up for losses. And

57:56

everyone has different areas,

57:56

like they can't do that. I'm

57:59

like, doesn't say that anywhere

57:59

in the rules. They are business,

58:03

they kind of make their money up somehow? Absolutely. Absolutely. Yep. I

58:05

got to do it. So you get you've

58:10

got a plan? Well, you got to

58:10

plan well. And you always got to

58:15

keep your thumb on the pulse of

58:15

the property, the income, the

58:19

expenses, right, you got to make

58:19

sure that your team is working

58:23

well. And that you're doing

58:23

everything in your power to, you

58:31

know, to cashflow the asset.

58:31

Yes. Right. Give the give the

58:34

residents a good place to live

58:34

and collect rent.

58:38

Yeah. And it's, it's so this is

58:38

more of a little minor twist on

58:45

there with the cash flow and all

58:45

that there's the move to tax to

58:48

quote rich, what how would that

58:48

affect you as the real estate

58:53

property manager kind of thing? Well, it's never good to just

58:56

tax the rich, you're never gonna

58:59

get you know, the government is

58:59

never going to get what it needs

59:01

just by taxing the rich, that's

59:01

just not right. Right. Well,

59:04

four years of Trump

59:04

administration where we had some

59:07

of the most tax cuts and tax

59:07

break and the economy was

59:11

booming. Right. You know, we we

59:11

pay taxes to the government. And

59:19

when we pay high taxes, that

59:19

means that there's less money

59:22

for us to go out and spend less

59:22

money for us to spend. That

59:26

means that the the, the service

59:26

industry professionals aren't

59:31

making money, they're not going

59:31

out and spending it it's just a

59:34

cycle that's just going to

59:34

continue downward, right? So

59:37

right axing the rich or taxing

59:37

anyone is not good. And

59:41

actually, you know, the, the

59:41

middle class is the one that

59:46

pays for everything pays for the

59:46

rich pays for the poor, pays for

59:50

everyone. Yes, and these people

59:50

are the ones that are suffering

59:53

a lot. So when you give tax

59:53

breaks, that means you know

59:56

what? gas prices are going down.

59:56

restaurants, they're not charged

1:00:02

as much services are going to

1:00:02

say you have a lot more money

1:00:07

coming into the market into the

1:00:07

into the economy, which is

1:00:11

boosting the economy. Right?

1:00:11

Yes. So taxes, you know, it. I

1:00:19

think, you know, for me, I

1:00:19

think, you know, 100 150 years

1:00:23

ago, we didn't have all the

1:00:23

taxes that we did, and we do

1:00:25

today. I think even it was the 70s, I

1:00:26

believe, is when it started and

1:00:29

cool out of hand, from what I've

1:00:29

been hearing.

1:00:33

I know, when I was a kid in the

1:00:33

70s, bread went up like 70 3070

1:00:38

cents, people went on strike,

1:00:38

they didn't buy bread for a

1:00:41

week, the prices went back down

1:00:41

again. We don't have that today.

1:00:44

People are too comfortable,

1:00:44

they're too afraid to lose what

1:00:47

they have. So they're not going

1:00:47

to go out and, and, you know,

1:00:50

protest and, and make a stand

1:00:50

because oh my god, you know,

1:00:54

what, if I lose my job? What if

1:00:54

I lose this? What if I lose that

1:00:57

it's fear, that keeps people in,

1:00:57

in control. That's how you can

1:01:02

control people is by fear. And

1:01:02

that's, you know, that's what's

1:01:05

going on today as well. All this

1:01:05

fear of getting sick and dying

1:01:09

and other little, it's

1:01:09

controlling people all about

1:01:12

control. No, it is, right. So, you know, my

1:01:14

philosophy is go out and make a

1:01:18

shitload go out and go out make

1:01:18

a ton of money, I'll make a ton

1:01:22

of money. That way, you don't

1:01:22

have to worry about paying a lot

1:01:24

in taxes or not paying taxes

1:01:24

and, and we're not in real

1:01:28

estate, if we're talking about

1:01:28

taxes, real estate is a great

1:01:31

way to save on taxes, you got

1:01:31

cost segregations you got

1:01:35

depreciation schedules, you got

1:01:35

all this stuff that can reduce

1:01:39

your, your, your your capital

1:01:39

gains and how much you're going

1:01:43

to pay in taxes, which means

1:01:43

that you're keeping more money

1:01:46

in your pocket. And now you can

1:01:46

go out and you can do more, you

1:01:50

can spend more you can live your

1:01:50

life, you know, fully rather

1:01:54

than, you know, in a, in a, in a

1:01:54

world of lack. Right? You know,

1:02:02

it's better to live in a world of abundance. It is Yeah, that's actually one

1:02:05

thing. So your comment about the

1:02:08

middle class suffers earlier. So

1:02:08

everyone tells me Oh, we're

1:02:12

taxes in this and like, you

1:02:12

know, what's crazy, and no one's

1:02:15

gonna like this idea. Why don't

1:02:15

we stop taxing corporations and

1:02:18

people really hard, because then

1:02:18

they'll make more money, then

1:02:21

they'll be like, Oh, wait, these

1:02:21

people did great things for me.

1:02:23

I'll give them a race. kind of

1:02:23

thing is. And that's where

1:02:28

everyone just kind of looks at

1:02:28

me. I'm like, said, in essence

1:02:31

taxes, the reason we're

1:02:31

suffering, if we just get rid of

1:02:34

it. Like it'll actually like

1:02:34

meet the economy boom, insanely

1:02:40

Sure, absolutely. You know, but we

1:02:40

have the Federal Reserve who,

1:02:44

who we are the government or the

1:02:44

country borrows money from they

1:02:48

pay an interest on the money

1:02:48

that they're borrowing from the

1:02:50

Federal Reserve. And if you

1:02:50

know, if you look at it, the

1:02:53

taxes that we're paying, are

1:02:53

going to pay the interest on the

1:02:58

money that the government is

1:02:58

borrowing from the Federal

1:03:00

Reserve, right. I'm taxed on the

1:03:00

money that I'm making. I'm taxed

1:03:06

on on products that I'm buying

1:03:06

with, with money that was

1:03:10

already taxed, that was already

1:03:10

taxed on then, you know, then I

1:03:14

have to pay on on other things.

1:03:14

The taxes are just ridiculous.

1:03:20

absolutely absurd. The amount of

1:03:20

taxes that we're paying, so we

1:03:24

really need to push that back.

1:03:24

We need to push those those

1:03:31

taxes back, like he said, so

1:03:31

that we can have more money in

1:03:34

our pockets. Right? Not force

1:03:34

businesses, to pay more wages to

1:03:41

people, but have the business

1:03:41

earn more so that they can pay

1:03:46

more, right people think this

1:03:46

new $15 minimum wage is a great

1:03:51

thing. Sorry, it's not a great

1:03:51

thing. Because if I'm a

1:03:54

restaurant or business owner,

1:03:54

and now I have to pay my three

1:03:58

employees $15 minimum, that

1:03:58

means I got to pay more taxes, I

1:04:02

got to pay more money. So what am I going to do? I'm going to find one of them. Because if I'm

1:04:04

a restaurant owner, and I got to

1:04:08

pay you 15,000 Guess what? I got

1:04:08

to raise the prices on my food,

1:04:13

we can't raise it too much. Are you gonna

1:04:14

scare off all the customers,

1:04:16

right? Then if I scare off the

1:04:16

customers, I'm not making more

1:04:19

money, I got to fire more

1:04:19

people, more people going on on

1:04:21

unemployment. That's not a good

1:04:21

thing. It's not your businesses

1:04:27

more money, let people keep more

1:04:27

money, and then they can raise

1:04:33

you know, the employees salaries

1:04:33

by performance based on

1:04:38

performance. Okay, so there's actually I want

1:04:41

to talk to you specifically and

1:04:43

I didn't know it's not property,

1:04:43

but it's so there's a movement

1:04:47

in California, with the BLM and

1:04:47

all that, that all unskilled

1:04:52

people of color, any color, get

1:04:52

a trade pay, even if they don't

1:04:57

have trade knowledge, but as

1:04:57

someone else have white skin

1:05:01

color. Even if let's say I hold

1:05:01

asked I got my master's degree,

1:05:06

even though because I'm white, I

1:05:06

only get minimum wage. So for

1:05:11

performance, is that a good

1:05:11

correlation? Or is that only

1:05:14

going to hinder the company kind of thing? Because you're white,

1:05:19

pretty much it's not a rule.

1:05:19

It's more of a movement right

1:05:21

now. Yeah, well, you know, I mean,

1:05:22

you should be based on you know,

1:05:26

your income, your salary should

1:05:26

be based on performance.

1:05:30

That's literally what I've told

1:05:30

people. I'm like this, it

1:05:33

should not make a difference. If

1:05:33

you're male, female, if you're

1:05:36

five foot six, six foot one, if

1:05:36

you know if you're fat, skinny,

1:05:39

it doesn't make a difference,

1:05:39

man. performance, it's all about

1:05:43

performance. It's all about

1:05:43

doing your job. You know,

1:05:48

running your business the right

1:05:48

way. Who cares? Who cares? That

1:05:54

is just another way to divide

1:05:54

us. Another way of controlling

1:05:59

people, right? Yes. What do I

1:05:59

care? You know what you look

1:06:05

like? where you come from? What

1:06:05

color eyes you have, I don't

1:06:09

care. Your job do job well

1:06:09

exceed my expectations exceed

1:06:13

your expectations, and you'll

1:06:13

get rewarded for it if you don't

1:06:15

united here. Exactly. That's it. And that's where you

1:06:18

let

1:06:20

government dictate when you when

1:06:20

you have the media coming in.

1:06:25

And now you know, we see on the

1:06:25

supermodels black owned Hispanic

1:06:28

owned white owned female, who

1:06:28

gives a rat's ass that just

1:06:32

segregate and divide. And that

1:06:32

is actually racist, even though

1:06:36

you're trying to not be racist,

1:06:36

right? Well, you're not how

1:06:40

you're not, you're not how you

1:06:40

don't be racist by not looking

1:06:42

at any of that. Exactly. And not

1:06:42

taking that into consideration.

1:06:47

You know, if you're a nice

1:06:47

person, you're a nice person, if

1:06:49

you're an astronaut's I don't

1:06:49

care what color your skin is.

1:06:52

Exactly. You know,

1:06:54

that's just the bottom line. That's just the way I that's what I feel. That's the way I

1:06:56

think, and, you know, who cares?

1:06:59

You know, if you're, if you do

1:06:59

your job, well, you do your job,

1:07:02

well, you'll get promoted,

1:07:02

you'll you'll get, you'll get,

1:07:05

you know, you'll get you'll reap

1:07:05

the benefits. If not sorry,

1:07:08

you're out of here. I don't care

1:07:08

what what you look like.

1:07:12

No, and that's as one of those

1:07:12

things with my co workers.

1:07:15

They're just all like, Oh, we

1:07:15

this and that. I'm like guys,

1:07:19

like performance data, talks,

1:07:19

data, or in some cases, Money

1:07:24

Talks better than data. If you

1:07:24

can make your boss rich, they'll

1:07:28

make you rich. If you make your

1:07:28

boss lose money, well, guess

1:07:33

what? He's probably going to

1:07:33

just cut you to the point and

1:07:35

you can't survive and you go get a new job. Absolutely. Absolutely. And then

1:07:38

you're going to be in that cycle

1:07:41

as well, you as a person is

1:07:41

going to be that cycle. Right?

1:07:45

Because you're entitled, you think you're entitled with something that you're not really

1:07:47

entitled to. Right? Well, you

1:07:50

think that we're entitled to his

1:07:50

life, liberty, and the pursuit

1:07:53

of happiness. But you're not guaranteed any of that. Our

1:07:55

God

1:07:57

given rights and our government

1:07:57

is supposed to protect those

1:07:59

rights, not give or take away. I 100% agree with that,

1:08:04

quote, our constitution and Bill

1:08:04

of Rights is all about

1:08:07

protecting our right, not giving

1:08:07

or taking away

1:08:13

cherry picking will they the

1:08:13

successes and stuff like that.

1:08:17

Like they're saying, Well, if

1:08:17

we're good, we'll be able to

1:08:19

gather on Fourth of July. I'm

1:08:19

sorry, who are you to tell me

1:08:23

when I'm allowed to do what I'm

1:08:23

not allowed to do? Right? Right.

1:08:27

If your fear if you're worried,

1:08:27

and you're fearful, and take

1:08:30

care of yourself and live your

1:08:30

life in fear and worry, if I'm

1:08:33

not, then I shouldn't have to

1:08:33

live my life that way. That's

1:08:38

why we live in this country.

1:08:38

People that quite people from

1:08:41

all these war torn countries

1:08:41

from communist socialist

1:08:44

countries are flocking to this

1:08:44

country. Why don't you see

1:08:49

massive amounts of people on the

1:08:49

shores of Florida getting on a

1:08:52

boat gone? Dude, I'm getting it.

1:08:52

I'm going to Cuba.

1:08:56

Best just bad idea in general.

1:08:56

We just

1:08:58

it's not happening because life

1:08:58

over there is not good. Because

1:09:02

they don't have like 50 years behind us to

1:09:07

hear someone from any country

1:09:07

around the world can come to

1:09:11

this country. Work their ass

1:09:11

off, save money and make a life

1:09:18

for themselves. My father did

1:09:18

that my father didn't graduate

1:09:21

the sixth grade in Israel. He

1:09:21

came to this country, worked his

1:09:25

ass off, built an empire for his

1:09:25

family. Did right by his family

1:09:29

by his kids by his wife worked

1:09:29

his ass off, did things the

1:09:33

right way. Now and he built the

1:09:33

American dream for his family.

1:09:39

You know, it's funny how

1:09:39

immigrants you know, moved to

1:09:48

this country have more success

1:09:48

than people that are born in

1:09:53

this country. Because they have, they have

1:09:54

truly nothing to lose so they

1:09:57

only have the game for us for

1:09:57

the entitled they have

1:10:00

Everything to lose and nothing to gain. Right? Because you know, these

1:10:02

people come from a country like

1:10:04

Cuba, Venezuela, Soviet Union,

1:10:04

Afghanistan, Pakistan, India,

1:10:09

where you know, and they don't have running water, just to have waters just a

1:10:12

fantastic gift, we don't realize

1:10:15

that like electricity, internet

1:10:15

and water. Like we're freaking

1:10:19

so privileged in general, I traveled the world for about

1:10:21

six, seven years. And I've been

1:10:24

to places that don't have

1:10:24

running water that don't have

1:10:27

electricity, the sun goes down,

1:10:27

you like candles, you want to

1:10:30

take a shower, they pick a

1:10:30

bucket, they heat it up on the

1:10:34

on the fire, and then they give

1:10:34

you the bucket of hot water. And

1:10:37

that's the bucket that you use

1:10:37

to shower with. Rinse your face

1:10:40

with, brush your teeth with, do

1:10:40

your laundry with. Right? And

1:10:45

then you come here and you look

1:10:45

in it. And you know, you look at

1:10:48

people and they're just you

1:10:48

know, they take a bite of a

1:10:50

fruit and then they throw it in. Yes, I work at a grocery store.

1:10:55

There There are people in this

1:10:55

world and that would that would

1:10:57

that would feed a whole village. And they're still all

1:10:58

serving too. Yeah, so I work at

1:11:04

a grocery store in general. So

1:11:04

if a fruit doesn't even match

1:11:09

the criteria, I guess the

1:11:09

government has rules on how the

1:11:11

fruit supposed to look. So if it

1:11:11

doesn't match it, they literally

1:11:15

throw it away. And I'm like,

1:11:15

that could literally fit a

1:11:19

homeless guy right now. That's right. All those fruits

1:11:22

and everything. There's so much

1:11:28

waste there is that you can just go and pick

1:11:31

those things up and, and feed

1:11:35

countries. The communities. It's

1:11:35

unbelievable. It's it's, it

1:11:40

blows my mind. Just because it

1:11:40

has a little a little brown mark

1:11:44

or, you know, a bird picked out

1:11:44

it's a little bit Well, we can't

1:11:49

use that now. Are you kidding

1:11:49

me? I have 20 food trees on my

1:11:51

property in my house. And I grab

1:11:51

an avocado and I'm a cop, you

1:11:56

know, bird or squirrel ate a

1:11:56

little bit. Dude, I slice that

1:11:59

off. And I've got a great avocado. Exactly. You know, but there's so much

1:12:02

waste so much so much waste.

1:12:05

There is. So one thing one of my first

1:12:06

episodes and I actually like

1:12:09

talked myself out of it was

1:12:09

exactly this. Like if there was

1:12:13

a way to do like a one 800 got

1:12:13

scrap food kind of thing. But

1:12:17

then as I'm explaining him like,

1:12:17

oh, that would be a logistical

1:12:20

nightmare yet to get a truck to

1:12:20

the grocery store, from the

1:12:23

grocery store back to your

1:12:23

place, then you get a ticket

1:12:26

into traveling. Like that would

1:12:26

be a logistical nightmare. You'd

1:12:28

never make money then. True.

1:12:28

Hmm. Are you running out of

1:12:35

time? Do you need to go? Yeah, actually I do.

1:12:38

Alright, yeah. Notice you were

1:12:38

looking down and say Oh, good.

1:12:40

Thank you. Yeah, I'm actually having my show on

1:12:41

in about 40 minutes.

1:12:46

Oh, well, then I will. Thank

1:12:46

you. We definitely gotta get you

1:12:48

on in the future to absolutely be a pleasure. Thank

1:12:49

you. Thank you. It was great

1:12:52

talking to you. It was a good pleasure talking

1:12:52

to you. Stay safe. Stay well.

1:12:55

You too. Take care. Bye.