Episode Transcript
Speaker 0 00:00:01 Hey everyone. And welcome to the more to life real estate investing podcast. I'm your host. And my name is Adrian Penoza. I'm a former police detective of 21 years turned real estate entrepreneur. Each episode we bring to you an incredible guest. Who's got undeniable experience in the real estate investing world to help you get more to life through the power of real estate investing. So if you enjoy listening to our podcast and our show, please, please don't forget to subscribe, rate and review our podcast. As it helped small podcasts like ours, continue to provide our audience with some incredible value and knowledge. So now let's get right into our next episode. Everyone. It's Adrian. Penoza here with the mortar life real estate investing podcast, where we help you get more to life. So you can start living your dreams through the power of real estate investing.
Speaker 0 00:01:10 We are joined today by one of the most popular personalities. I tell you, in the real estate investing world, he is an entrepreneur, a real estate investor, an author, a podcast host, and the mind behind the money partner formula. We've also had the pleasure to have Dave on our podcast. For those of you who haven't seen it yet, uh, go back to episode number nine, cuz that'll just kind of flow into what we're gonna go through. Some, some stuff here today. Uh, the gentleman's name is Dave Debo and him and his team work with mom and pop real estate investors providing done for you marketing services that help you raise capital. He's also a bestselling author and a speaker based in beautiful British Columbia, Canada. Dave began his real estate investing career in 2003. Get this one guys doing 18 deals in 18 months and nowadays he invests passively in multifamily properties. So without further delay, Dave, welcome back on the mortal life. Real estate investing podcast, buddy.
Speaker 1 00:02:26 Adrian. It's always a pleasure. Thanks for having me.
Speaker 0 00:02:29 Yeah, for sure. For sure. It's quickly how time flies, right? We're getting old. <laugh>
Speaker 1 00:02:36 <laugh> what are you talking about, man? You're looking great.
Speaker 0 00:02:39 I'm the, uh, you know, you know, you're getting old when, before you get outta bed in the morning, you gotta stretch and figure out what hurts <laugh> you know what I mean? It's like, oh yeah, I gotta be careful about that. The way I get outta
Speaker 1 00:02:52 Bed. I, I know I'm getting old cuz I'm going to my youngest. Child's 21st birthday party this weekend. So that's, that's how I know I'm getting old for
Speaker 0 00:02:59 Sure. Wow. Wow. Yeah, for sure. Well, why don't we get right into it, Dave? Um, I think I want to touch upon cuz this is it. You know, it really holds such value big time when you think about it. And I don't think people really know the answer to this, but I really want to talk to you about how much, and obviously this is really passionate for me because the bulk of our business, pretty much all of our business is built on joint venture partnerships, right? So everybody out there listening, listen to this question and then Dave's gonna go through it and you're gonna be amazed when you, when you break it down. Cuz I know I was. So the question is Dave, can you tell us how much just one joint venture investor is worth to you as the uh, person who wants to attract and it secure that JV investor, tell us how much one investor's actually worth.
Speaker 1 00:04:03 Well, it's a bit of a calculation. It's gonna be different for everybody depending on what your strategy is, what you're doing, but this was a mind blowing number for me back in the day, Adrian, uh, even though my number probably wasn't anywhere near as high as your number's gonna be, but it's all a matter of perspective because I first learned about this way, way, way back in the 1990s, when I was living in of all places, San Jose, Costa Rica at a language training company down there, and I started from scratch. I was absolutely clueless. I was in my, I was in my mid twenties. Didn't have any business background, didn't have any money. You know, starting from scratch. I quickly realized I needed to, you know, learn a few things about business. So I read a whole bunch of books and all this kinda stuff, read a book by this guy named Jay Abraham.
Speaker 1 00:04:55 And he talked about the lifetime value of a client or a customer. He called it LTV. Well, that's got a cont completely different meaning in, in real estate talk. So we call it lifetime worth in real estate. But when I crunched that number for my language training company, I figured out that a client was worth $12,000 to me over the lifetime of working with that client. And for me at that time, that was like a mind blowing number because that allowed me to understand how much time, effort and money I should be willing to invest to get a new client on board. So if it cost me a thousand bucks to get a new client, but I know I was gonna make $12,000 over time, that's a pretty good ROI. And that understanding was one of the things that helped take my little struggling language company from the bottom of the pack in a very crowded marketplace.
Speaker 1 00:05:48 We had about 50 direct and indirect competitors up to the top three in about two and a half years was understanding that concept now fast forward, 15 years or 20 years, whatever the heck it was that I, I was starting to raise capital for real estate deals. I've been doing 'em for a while. And then I kind of, I don't know what came over me, but I thought, Hey, I wonder what the lifetime value of an investor is for me. And at the time I was doing little single family homes I was doing, uh, lease option strategy rent owns so kind of a, a short term type deal. And when I crunched the number, it came out to $120,000 was the lifetime value lifetime worth of an investor to me at that time for that strategy. And I look back that was 10 X, 10 times what a customer, a customer had been worth to me in my previous business by getting involved in real estate investing.
Speaker 1 00:06:46 So blew my mind. And since then, I, this is one of the, I I think as far as I know, I'm the first person in real estate to apply this calculation, to figuring out how much an investor is worth to you. So Adrian, that's the backstory. Are you open to, you know, playing along with me here and, and let's, let's, let's go back a few years before Adrian was doing these big deals and go back to when you're doing your smaller bird type deals, maybe the duplexes plexes. Can we look at that? Cause I think that, that those would be
Speaker 0 00:07:17 More yeah, yeah, let's do it. Let's do it.
Speaker 1 00:07:19 Okay. All right. So the first thing we have, the first number we have to come up with when we're calculating making this lifetime worth calculation is what would you guesstimate your average net profit to be on a small bur? And I know you, you buy and hold these properties long term, right? Adrian, you're not putting these properties, but let's, let's use a 10 year timeframe. So we got book ends in there. So let's say we're looking at a duplex or a Plex. And when you take into account, chances are you're buying them where you're buying them typically a little bit under market value in the first place. Yep. Yeah. Okay. So you got instant equity there. So we gotta take that into mind and then we've got forced depreciation cuz you're doing a bur on these things. So you're increasing the value of the property up and above what it costs you to make those improvements.
Speaker 1 00:08:11 That would be forced depreciation. And then if you look at cash flow over a 10 year timeframe, gotta take all these different profit centers into account. So cash flow over 10 years and then mortgage pay down over 10 years. Right. Uh, yeah. And then we also need to take into account, uh, a reasonable amount of market appreciation over those 10 years. I know you're on Ontario. Things are going gone kind of crazy. So if, if you take all of those different profit centers in one of those smaller deals, what is your best guess at what that adds up to over a 10 year timeframe?
Speaker 0 00:08:52 Well quickly, uh, on the back of a napkin, I want to say on average, you know, let's just say on average, our cash flow is 800 bucks a month.
Speaker 1 00:09:05 Okay.
Speaker 0 00:09:06 So if you got a calculator there, maybe plug these numbers in,
Speaker 1 00:09:09 Let's see 800 times, 12 times 10. So we're looking at 96 grand in cash flow. Yep.
Speaker 0 00:09:23 Okay. Um, let's talk about, uh, appreciation. Yep. Um, I think obviously we're in a different market right now with the shift in the market and whatnot here in our market center. Uh, but let's say on average, we're looking at bare minimum, an 8% growth value per year.
Speaker 1 00:09:47 Okay. That's gonna be hard for me to crunch that number. So what's your best guess at what you paid for something 10 years ago? What it's worth now?
Speaker 0 00:09:54 Well, let's talk about the lift. Yeah. So we're gonna buy a property for 700 mm-hmm <affirmative> we'll do easy math 700 and we're gonna put in 200 and it's gonna refinance for, uh, 1 million, 1 million, 180.
Speaker 1 00:10:21 So is that two 80 lift?
Speaker 0 00:10:25 Yeah. So what we bought it for seven, we put in two, so into it for nine, but we're refinancing for 1 million, 180.
Speaker 1 00:10:33 Yep. So that'd be a, about a $280,000 lift, which we'd call, uh, forced depreciation because that's all happening in the first year. Right. Right. All right. And then you got market appreciation over the next, let's say nine years. So that $1.1 million property what's that worth today?
Speaker 0 00:10:54 Well what would it be worth? That's what it's worth today? 1 million
Speaker 1 00:10:58 Million. Okay. What, what, what is, what was it worth back in the day? What did you pay for it?
Speaker 0 00:11:02 We paid 700 when we bought it, but then we obviously performed the construction. Um, are we trying to get to the figure of what this is worth 10 years from now?
Speaker 1 00:11:13 No, no. We're trying to look at, because you've been doing this for quite a number of years. So we're looking at one of your old deals from 10, 10, 12 years ago. What's that duplex or that Plex worth today?
Speaker 0 00:11:25 Oh, 10 years ago. Yeah. Good question. So I can think of one off the top of my head. 10 years ago, I paid, um, 312,000 and today that same property is worth 800,000.
Speaker 1 00:11:44 Okay.
Speaker 0 00:11:45 So there's what five, just call it grounded off to a $500,000 lift.
Speaker 1 00:11:50 Okay. And that's, that's everything included that. So that's market appreciation plus the forced appreciation of the problem. Yeah. Yeah. Right. Okay. Good. All right. So we got all right. And we, so we got the cash flow 96,000. Over those 10 years appreciation, forced appreciation 500,000. What's your best guess on mortgage pay down over those tee 10 years.
Speaker 0 00:12:12 Let's call it six. Why don't we be conservative? Call it 600, even say five 50 a month on principle.
Speaker 1 00:12:20 Okay.
Speaker 0 00:12:22 Being conservative. Oh,
Speaker 1 00:12:24 Pause times 10. So yeah, that's very conservative. 66,000.
Speaker 0 00:12:31 Very conservative. I think. I mean, I think we're really low. Uh, you want to bump it up to 80? I think that's
Speaker 1 00:12:38 You tell me my friend. I
Speaker 0 00:12:40 Think that's a little bit more realistic thinking about the numbers.
Speaker 1 00:12:43 Okay. 80,000. Good. Are you taking depreciation on the property? Anything like that?
Speaker 0 00:12:50 No, I think that out.
Speaker 1 00:12:53 All right. So we'll just, let's just focus on the cash flow. Forced depreciation market appreciation mortgage pay down. So to round the numbers six, we're looking at about 600 actually no $775,000. Give or take.
Speaker 0 00:13:14 Yep.
Speaker 1 00:13:15 Does that sound about right? Does that within the realm of reason,
Speaker 0 00:13:18 Even, even if we wanted to be ultra ultra conservative vets, you know what, Dave, let's round it down to 750.
Speaker 1 00:13:24 Okay. Perfect. Seven 50 ultra
Speaker 0 00:13:25 Conservative.
Speaker 1 00:13:27 All right. $750,000. So that's the gross profit over a 10 year timeframe. What kind of split are you doing with your investor partners?
Speaker 0 00:13:37 Usually on average, it's a 50 50 split.
Speaker 1 00:13:41 All right. So the amount that actually shows up on your bottom line, Adrian would be 375,000 half of that.
Speaker 0 00:13:51 Yeah.
Speaker 1 00:13:53 All right, good. So this is important that we go through this, you guys. So if you're doing this at home, these are the numbers that you need to crunch. Oh, it can be on the back of the napkin, but we want them to be fairly realistic. So again, we're looking at Adrian, what is the lifetime worth of an investor to you in this kind of a deal? So the first number we crunch is figure out what an average deal like that is worth to you in profit over that 10 year timeframe. And that's 375,000, right?
Speaker 0 00:14:21 Yep.
Speaker 1 00:14:22 Okay. Next thing we wanna do is we want to divide that by the number of investors you need to do. One of those kind of deals. So are you working 1, 2, 3 investors on a deal like that? One, one investor. All right. So divide by one. If my mouth's right, that keeps us at 375,000. Yep. Now here's the question that investor who invested in that deal with you now that, that you've been doing this for over a decade. How often realistically, is that person going to reinvest with you over the time that you guys work together?
Speaker 0 00:15:05 So statistically, yeah. Uh, at least twice statistically it's a minimum of twice, because again, with our reputation on getting them incredible ROI on their capital, they're always, you know, once that money comes back to them on the refi, the first thing they're like, well, Adrian, that was awesome. You know, painless. Let's do it again. The let's do it again. Mm-hmm <affirmative> so I'd say bare minimum one time, one other project. And it also goes to their qualifications. Like a lot of them want to continue on, but their debt ratios now, you know, depending on what else they got going on,
Speaker 1 00:15:43 Let's let's be super conservative. Let's say it's, they'll, they'll invest with you twice. That first deal. And one more deal. Right. So let's yeah. Right. Okay. Now, so we're following along there 3 75 divided by one investor per deal, divided by two deals. They'll do with you over time. Now, what would you say conservatively? You could realistically look at as far as referrals from one investor to a new investor,
Speaker 0 00:16:10 I'd say realistically one being very conservative.
Speaker 1 00:16:15 Okay. So that means one investor would refer one more investor to you. Is that correct? Yep. So our referral factor would be two. Yes. Does that make sense? Yep. All right. Uh, here's where it gets exciting. My friend. So you help me out with the math here. You're the numbers guy 3 75 divided by one keeps us at 3 75. Right? So we got our, our average profit per per deal is 375,000. Right. We need one investor per deal. Yeah. They're gonna do two deals with us over time. Right. So that brings us up to the seven 50, if I'm not
Speaker 0 00:16:51 Seven 50. Yeah.
Speaker 1 00:16:53 And then they're gonna refer at least one other investor to us who will do the same idea. So our referral factor is two. So that means your lifetime worth of an investor for this kind of a small deal is 750 times two. So that's 1.5 million,
Speaker 0 00:17:15 1.5 million. Yep.
Speaker 1 00:17:24 That is the lifetime worth of one of those smaller investors to Adrian.
Speaker 0 00:17:35 And you know, they
Speaker 1 00:17:37 Well, Adrian, I'm, I'm looking for amazing to show up on your face cuz I'm thinking that's pretty darn amazing. That's a, that's fantastic.
Speaker 0 00:17:43 Yeah, no, absolutely. And every time I remember this conversation, Dave, um, you and I had this, I can't remember if I was on, it was maybe I, I was on one of your, uh, workshops.
Speaker 1 00:17:56 Oh yeah, yeah. We did that. Maybe
Speaker 0 00:17:57 It was on a workshop. You kind of talked to the, uh, the class about it. Um, or it was anyways, I know it came from you and it really gives you a different perspective. So everybody out there listening, this is what we're talking about and, and the kind of effort you can put into, um, attracting capital to join venture with you. It's incredible when you, when you break it down like that, and that's a simple, TriFlex kind of scenario, um, doing the birth strategy and perfecting that strategy. It's amazing to think one investor ultimately is worth 1.5 million
Speaker 1 00:18:36 Yeah. For you with this strategy in this market, that that is your number. It's gonna be different for everybody depending on what they're doing. So for example, back in the day when I was doing rent own deals, mine was only $120,000, which I still thought was pretty darn amazing. When you get into these bigger deals, longer term deals, more different profits centers in a deal, then it really starts to multiply there. But here's the other thing, right? So if you understand that an investor is worth whatever it is to you and your case, 1.5 million, then it also brings into, you know, brings into play. Okay. Uh, not just getting investors, but keeping our investors happy. Is that worth more than just a, a, a little email on their birthday perhaps? Is that worth a little bit more TLC for folks? I mean, when you understand what these people are providing you and your family with over time, that's huge. Now the other side of the coin is if that's what an investor is worth to you.
Speaker 0 00:19:39 Yeah.
Speaker 1 00:19:40 How much are you worth to that investor? Right? Yeah. Now it won't be the same amount because we're not doing the referrals in there, but it should be the 750,000 when you're doing a 50, 50 split with people. Right. So that's huge too, right? It's a two-way street. The value they're bringing to you and the immense value you are bringing to them because they get to piggyback along with Adrian and his team. And that well over a decade worth of an experience, all they have to do is cut a check. Everything else is done for them. It's a sweet win-win situation for everybody.
Speaker 0 00:20:16 100%. And I, and, and I think you hit the nail on the head there, Dave, at the end of the day, you know, I get a lot of, uh, email phone calls and whatnot about, uh, this whole strategy and working together with different, different clients and new clients. And at the end of the day, you gotta look at it like exactly what you said a lot. We try to push nothing will change in your life and preach. Nothing will change in life. We do it all. You're still gonna take your kids to hockey and soccer and, and ballet and whatever else. And you're gonna work on your career and this and that. And this is what we're bringing to the table, facilitating everything from a to Z. And at the end of the day, people that wanna do this on their own and just be a sponge and, and maybe join venture with somebody, not necessarily me, but another company or whatnot, be a sponge, learn as much as you can.
Speaker 0 00:21:10 Mm-hmm <affirmative> and you know, all about that. Dave learn as much as you can off a professional off a mentor or, uh, you know, for that sake, even, um, yourself in the kind of business you're in and attracting that money and then take it from there and, and, and go with it. But, you know, even people getting a hold of you and using your program to attract the capital, it's amazing how you can accelerate what you want to do when you're working with a professional once or twice, but you have to pay the money, but the money will go and it's worth it. I look back when I started, I didn't have a mentor coach, a Dave Debo. Uh, any of that, I just kind of went winged on my own. It took me 10 years. Could I have shaved that down and maybe five or six probably.
Speaker 1 00:22:02 But yeah, well, we were, it was interesting. Cause we were just talking, I was interviewing you on my show and I was looking back, cuz I had interviewed you two years ago. And at that point you were right around 200 units in your portfolio that had taken you a decade to get there fast forward two years. You've almost doubled that in that two year timeframe that's because you've got that track record. You've got that experience. You've got all of that knowhow. You've, you've gone through all of that already. So now that's how you're able to really scale and accelerate your growth so much more quickly
Speaker 0 00:22:39 Point in check, you have the experience. Um, but it took me a decade to get that experience. And like, again, my point being, if you can, if you can accelerate that by leveraging hiring professionals like yourself and your company or working with, you know, our company to join venture, it could accelerate your learning curve, save you money, ultimately, cuz you're not gonna make the same mistakes you're gonna learn from the professionals. And then like I said, take that, put it in your tool box and maybe one day go on your own if that's what you want to do. Exactly. But people are professionals are here, learn from our mistakes, you know, and what, what success, what works take it and go. But you have to in invest, like I say, invest back in yourself and
Speaker 1 00:23:29 By yeah, well it, it gets back to, uh, I'm a big fan of Dan Sullivan and strategic coach. And he wrote a book, not that long ago with Ben Hardy called who? Not how. Right. So once you know what it is that you wanna accomplish, if you're a busy professional, if you're busy or you're a busy real estate investor, instead of trying to figure out all the how and do it all yourself, figure out who already knows how to do what you wanna accomplish and get them to do it for you. <laugh> that's, that's a massive, massive time saver for you. Yeah.
Speaker 0 00:23:59 Bingo, bingo.
Speaker 1 00:24:01 So
Speaker 0 00:24:02 We got about a few, we got a few minutes left. Um, I, I really want to touch on one more, uh, point Dave, if we can quickly.
Speaker 1 00:24:12 Yeah. Um,
Speaker 0 00:24:14 Uh, do you think we have enough time? I'd love to talk and again, you are the pro at this, um, and, and your business, the three biggest mistakes real estate investors make when trying to raise capital. Can we touch on that quickly?
Speaker 1 00:24:31 Yeah, we, we can, we can get through at least one or two of them. That's for sure. So one of the biggest mistakes Adrian is that they buy to the guru real estate guru talk of, Hey, just find a good deal and the money will find you. And whoever came up with that expression, I'd like to smack 'em upside the head because so many people have been burned by that. You know, at your stage, that could very well be true, Adrian, right? Because you've got a platform, you've got a bunch of followers. If you came across a deal, it was a mind blowing tomorrow. You could reach out to your sphere and, and you could raise cap. But when you're first getting started, that's a huge mistake. What you need to be doing instead is you need to get your investor ducks in a row first and then go find the deals or at least do both at the same time.
Speaker 1 00:25:21 Don't wait until you got a deal on the go. Because if you do that, then I don't care how good your deal is. If you're desperate to get the capital, that desperation is gonna ooze from every poor in your body, you're gonna get what salespeople call commission breath <laugh>, which actually repels people. It actually turns them off because you come across as needy and desperate and that's kind of creepy because it is right. It, it, it just, it just oozes out of you. So chicken and the egg, which comes first, you should always be raising capital ideally before you've got the deal or at least at the same time that you're doing the deal. So that's one of the big mistakes. Another big mistake. I see people making, especially newbie capital razors, or joint venture people is they go out and they blast their deals everywhere.
Speaker 1 00:26:13 And anybody, any anywhere thinking that anybody with a pulse and a checkbook could be a good joint venture partner or an investor partner, nothing could be further from the truth, especially when you're first getting started for two reasons. I mean, think about it, Adrian. If, if you don't have much of a track record with, with, uh, investors, in order for somebody to invest a hundred grand with you to do a deal, they need to know you like you and trust you with their money. If you're going out to complete strangers, they don't know you. They don't like you. They certainly do not trust you with their, their money. So you're starting from scratch. The second big challenge is this pesky little organization that you guys have in Ontario called the Ontario securities commission. We've got 'em in BC called the BC securities commission. Every province has 'em.
Speaker 1 00:26:56 Every state has it. Us has a securities and exchange commission to, but basically it's illegal for us as mom and pop real estate investors to raise capital from the general public, unless you're licensed to do so. So financial planner, stock, broker mortgage broker, in some cases, or you set up a certain corporate structure or you've got an offering memorandum and all this legal stuff that costs tens and tens of thousands of dollars to set up, which doesn't make much sense if you're doing a single family home bur right. So where does that leave us? It leaves us that we need to focus when we're first getting started. We need to focus on people that we have a preexisting relationship with. That's the easiest, fastest, quickest, and safest capital you can ever access. Uh, we worked with hundreds of clients over the years. We find that our clients on average have access to somewhere between 1.5 and $2 million or more of capital from within their existing network already.
Speaker 1 00:27:56 So start there once you've got that dialed in. Once you've got that tapped in, then you look at expanding your network. You look at starting to work with accredited investors, et cetera, whatnot, getting to the stage that you're at right now, Adrian, but at the beginning, start with your sphere of influence people that are already in, in your, in your network. And then the other big mistake. Number three, and I've made all of these mistakes. You guys, this is, this is why I know they're big. Mistakes is just rushing in it. Ties back to that whole thing. Wait until you got a deal and then trying to raise capital then, which is a big mistake it's rushing in and desperately calling people on the phone. Dialing for dollars, cold calling people, networking, schmoozing, pitching everybody, anybody your deals. That's a big mistake. What you wanna do is you want to laser focus on your target group of ideal perspective, investors, your network, and you wanna break the ice with them first, before you start talking business, break the ice first and set the stage prime the pump, and then you start communicating on a regular basis with what I call edutaining communication.
Speaker 1 00:29:06 So those are the three biggest mistakes. Number one, you know, trying, waiting until you got a deal on the go to try and raise capital. That's a big mistake. Big mistake. Number two is thinking everybody and anybody with a pulse could be an investor. No, you wanna focus on your network. And mistake. Number three is just charging in like a bull in a China shop, pitching your deals left, right and center. You wanna be a little classier than that first.
Speaker 0 00:29:31 And I completely agree. You know, Dave, I still, to this day, I I'm doing both models. As far as I'm looking for deals, raising capital, or like you mentioned, raise the cap, get the JV guy first, get the capital first, the JV partner, and then source the deal. Um, I'm still sourcing JV partners first mm-hmm <affirmative> and then the deal, because it, like you said, you're not gonna, you're not gonna get into hot water that way. Right. You have right. The partner and everything's great. The deal will come. The deal will come. Uh,
Speaker 1 00:30:14 Well, and you're, you're in the advantageous stage right now, Adrian, that you've got a whole bunch of investors waiting in the wings. You've probably got a lineup of people saying, Hey, I want first dibs on your next deal. Give me a heads up when you've got a hot one on the go. You're probably at that stage right now. That's, that's the goal that we wanna get everybody to is where, where you've got a whole bunch of investors eagerly waiting in the wings for your next deal. So that when you've got that, you're not starting from scratch, trying to, trying to raise the capital. You've already got it to a certain degree already lined up.
Speaker 0 00:30:46 Exactly. No, I couldn't agree more. And I still do that today. I source the and attract the joint
Speaker 1 00:30:52 Venture. Yeah. You're probably doing both at the same time. Right. You're always looking for deals and you're always talking with perspective investors. That's the smart way to be doing it. Yeah, absolutely.
Speaker 0 00:30:59 Absolutely. No great advice, Dave. Um, so as we get to the end here, um, we, we're getting to our final, final, final questions. Um, and I like to ask these, everybody gets to ask these Dave,
Speaker 1 00:31:18 Okay. I did. And you didn't give 'em to me ahead of time. So we get to fly. So we get to walk the tight rope without a net. So that's good.
Speaker 0 00:31:25 Yeah. The, uh, the lightning round sort of speak mm-hmm <affirmative> um, what is your, why, why do you
Speaker 1 00:31:35 Do my, why? Yeah, my, why is, is personal freedom? My friend, you know, freedom, my wife and I love to travel. So I love having the freedom to be able to go where we want when we want, how we want that's that's the goal is personal freedom.
Speaker 0 00:31:50 I couldn't agree. More time. Freedom, uh, geographical freedom. Absolutely.
Speaker 1 00:31:58 Yeah.
Speaker 0 00:31:59 Um, if you could give one piece of advice to the people listening in this, in this field, in the field of real estate investing and attracting your specialty attracting capital mm-hmm <affirmative>, um, one piece of advice, what would that be?
Speaker 1 00:32:17 That would be what we just talked about. Don't wait until you got the deal to start raising the capital, start raising the capital first by focusing on your existing network of contacts.
Speaker 0 00:32:31 Right. Don't go out to strangers and just say, Hey, I'm Dave, and can you give three
Speaker 1 00:32:37 Stranger danger, stranger danger, dad. <laugh> stranger danger. Always remember that? Just like we tell our kids. Yep.
Speaker 0 00:32:42 Awesome. Well, Dave, thanks again. It was a pleasure having you on our podcast again, obviously for everybody out there listening. Um, Dave is the man when it comes to raising money and coaching and teaching, uh, investors on how to raise that capital so they can join venture and start, uh, increasing their portfolio. So I highly recommend you get in touch with Dave. How do people find you, Dave?
Speaker 1 00:33:12 Thanks Adrian. While I'm really, really excited, cuz we're just launching a brand new podcast right now. It's called the how to raise capital 1 0 1 show for real estate investors. Again, the how to raise capital 1 0 1 show. You can listen to that wherever you enjoy listening to podcasts, or you can go to raise capital 1 0 1 show.com. And again, that's all about helping newbie capital razors get started. Uh, the first nine episodes, Adrian are actually a mini course on what I call my money partner formula and it's all designed to help people go and raise their first six figures in a matter of weeks and their first seven figures in a matter of months, even if you're starting from scratch. So again, that's a, our first nine episodes are a mini course all on that. And you can find that at the how to raise capital 1 0 1 show.
Speaker 0 00:34:05 Amazing. Yeah, everybody listening, go there. You're not gonna regret it. Especially if it's, uh, it's, you're new to the field and you could use some help and some guidance and you know, some strategies like, like Dave's talking about for sure. I, I highly recommend it. So thank you. That's it, Dave. Um, you ready? Other than that again, I's awesome having you again. I maybe let's do it again in a year, not two years and see where we are then as we continue to get older and, and whatnot and uh,
Speaker 1 00:34:37 Well, well dude, you're doing better than I am at the, the Al day. You've still, still got boast of your hair and it's not great like mine, so,
Speaker 0 00:34:44 Oh yeah. Find
Speaker 1 00:34:45 Out what your secret
Speaker 0 00:34:46 Is. It's all good. All right, Dave, enjoy the rest of the summer. It's almost half over or it is half over now. So enjoy the rest of the summer and uh, take care of yourself and your family.
Speaker 1 00:34:56 Likewise. Thanks a lot. My friend,
Speaker 0 00:34:58 Roger.
