0:01 Hey, welcome to today's episode. I am your host, Mr. Daniel Martinez. Today I have another podcast host, which I was on his podcast. Definitely go check it out. Mr. Gabe Peterson out of the Real Estate Investing Club podcast. How you doing today? 0:17 Daniel? I'm doing good. Thanks for having me on. 0:19 No problem, man. No problem. What part of the country are you from? 0:22 I am from the West Coast, Seattle, 0:25 Seattle. I have never had a chance to be Seattle. I was like, I used to be a truck driver. And I was up by Salt Lake City, Salt Lake City. 0:36 Yeah, it's not close. But you know, it's West Coast ish. 0:39 I went I went up to Idaho, because I drove like, into Idaho. And I was I remember, I was like, five, four or five hours away from Seattle. And I'm like, I've never even been in Washington before. 0:51 But there you go. Yeah, you must have been at the very top of of Idaho, then. If you go from quarter lane, which is right on the other side of the border from Idaho, and in Washington, that's about five hours. A little bit more, but around there to to Seattle. 1:09 Yeah, that sounds about right. I was definitely deep in Idaho. More than I remember. But there's a long Yeah, that was many years ago when I was a truck driver. 1:20 Good times, right? Times change. 1:23 Yeah, for sure. Times definitely change. So one of the first things I was really asking is how German real estate man, because it's a different story for every person and me, I kind of fell into it. Let's hear your story. 1:35 Yeah, I mean, I feel like every person I asked the same thing on my, my podcast, I feel like everybody I talked to we all have a unique story. There's no cookie cutter, cutter way to get into real estate. But so my journey kind of started when I was, well, I, I always kind of wanted to start my own business that was just kind of in my in my bones. I'm kind of that kind of guy. But I didn't. I didn't have anybody in my life that ran a business. I didn't have any influences that were telling me to go start a business, but I just wanted that kind of freedom. But when I graduated in 2009, from University of Washington, it was you know, right after the crash and the 2008 crash, and so there were zero jobs out there. I didn't know what I was going to do. So a friend was doing, worked at Accenture consulting firm. And so he said it was fun. So I joined him. But I kept like searching for ways to get out of you know, the corporate life. I really didn't like working corporate and I started like tons of different things. I started like an E commerce business. I started a t shirt business, I did digital marketing, all these different things. Until I actually get into that I think I you know, I listened to a bunch of podcasts and real estate kept popping up and so in 2014, I bought my a triplex with a friend of mine. And we we didn't really have a grand plan on becoming, you know, investors. He's actually not in real estate anymore. But you know, we didn't have this grand plan, but we bought this triplex. It seemed at the time. Actually, we didn't do great underwriting it at all. I'm glad it worked out because it could have not worked out but we bought this triplex we fix it up. It was like just a PISA it was it was it was a piece of work. You know, one of the tenants was a legitimate hoarder, you know, wall to ceiling or floor to ceiling. They were just junk. Oh, man, she wasn't paying rent. So we had to evict her. She left all our stuff. And so we literally filled up, I think it was three, like 20 yard containers of just garbage. And then the, the other tenant was growing weed. And so their electric electric bill was like $600 a month was absurd. And we were on the hook when we bought it for the for the bill. And so we had to evict him. And then the third person was good, they stayed but you know, we went through this whole thing of flipping all these units. And this was 2014. So we were both young in our early 20s. And it was just a shit show. But we ended up making I think was $86,000 from that flip, which is the most money I've ever seen in a single check. And so it kind of like turned on the light bulb and I was like, Okay, this there's something to this, you know, they might work. But it didn't take you know, it took me years after that. I was just it was always kind of a side thing that I was doing. I was doing like wholesales. I do I did a couple more flips. But it took me until 2020 2019 2020 until I actually turned my full attention on to real estate left corporate. And you know when went all in for for real estate. 4:56 What was your corporate job? Exactly? 4:59 I So it was a consulting company. And we did project management, business analysis and process improvement. And most, I'd say most of what I did was project management. Sometimes I like the roles that I really liked were the business analysis, data intelligence roles. And so I, like I went to Microsoft, and I got to dig into a bunch of their data and come up with, you know, solutions from that. That was fun. I liked I liked the data aspect of it. That was kind of correlates well to real estate, because, you know, there's so many excels involved in underwriting, but I liked that, but everything else, it was mostly project management, in that, you know, wasn't I didn't have a ton of fun doing that, just because I didn't have a lot of project management might when I'm project managing my own, you know, construction projects here in my business, it's fine, because I can make all decisions. But when you don't have the authority to make a decision on a budget on, on anything, and you just have to bring in all of these different, you know, makers, decision makers, yeah. Then it just becomes it's like herding cats is what they used to call it. So see, I did mostly that 6:12 he's a herding cats. That's always like, that's always like, the downside to like, corporate is just like, everybody have like, 10 people to agree on one thing and like, agree, and really, what 6:23 about the stakeholders? Yeah, 6:25 every everything's up everybody's opinion matters all of a sudden. 6:30 Exactly. 6:33 That's funny, man. I, one of the funny somebody asked me what somebody asked me earlier today, like, oh, so like being being an employee and like, sometimes take on leadership roles. And I'm like, like, when I was an employee, I didn't want to take on any leadership roles, because I didn't want that responsibility. It was just nonsense. Like I saw corporate corporate nonsense is ridiculous. And I hate I didn't want to participate. 6:59 Yeah, yeah. Because, you know, I'm not I don't want to trash anybody in corporate, it's, you know, it's, uh, I feel like every person definitely has a personality that's fit for a specific type of job. And my personality just did not fit in corporate. I couldn't, couldn't swing it. So but I'm thankful that you know, we have people that make us things like, like windows and all the different different corporate products out there. So thank you guys for doing the doing the work. 7:27 Yeah, I'm glad there's corporate out there that gets along. Yeah, exactly. My business. That's funny. Your first flip? I think it's funny, because did you trash out yourselves as you hire somebody? 7:43 No, we we did the work like that. In fact, the first two flips? I did, I did. Almost all of the work. I remember the second clip I did it was we like we had to take this thing. We had to actually elevate the flooring, because it was it was you know, it had a grade to it. We didn't do that. But I was doing all the work on the inside like me and a buddy we bought this house and we were we were laying the flooring. This is the thing that I remember the most is I was doing tiling. And if you're not a contractor, I never recommend doing your own work because I distinctly remember taking this other contactor through. I think he was the he was the electrician. And we were walking him through and he was looking at the floors. He's like, man, who did you hire for the for this flooring? They did a horrible job. And I was like, Oh, God, that's me. Luckily, we still sold that house, but it was after that. I was like, I can't do I can't do this work anymore. 8:41 Yeah, it's when you're first starting out, you got to do like things you don't want to do. And my first house I contracted I trashed at the same thing. I like, hey, I want to help me out. We got to get a scratch job when he pulled up one dumpster. So I can't even imagine the three on your first flip. That's funny. 9:01 Yeah, it is work. 9:05 It's just, it's like it's crazy how people live and no offense to people out there that live like this. But it's crazy how people live because there's people out there that deal with this on a daily basis. And like if you're in real estate, and you come across some orders and come across some water houses and come across some abandoned cars and boats in the in the yard and you're gonna come across, it's gonna happen it's just a matter of time. 9:34 Those are the houses that actually are good deals, the ones that are pieces of shit. And so that's I feel like especially if you're if you're flipping houses, those are the ones you're going to come across more often than the the nice houses that are good for the market, 9:46 or the gems are it's where the money is where the money is where it where people are only doing it so it's very interesting. So early on career it gives me definitely getting done yourself. What exactly do you do now as far as in the real estate Bass now that you said you started in 2020, what is your real estate? investing career looks like right now. 10:06 Yeah, so I transitioned full time to commercial to commercial space. We own two mobile home RV parks, and then six self storage facilities. I'm really focusing in on self storage right now. We're just closing on on another one out in Oklahoma. And so yeah, I really liked self storage. But now that I've, you know, been in, in commercial for a couple years now, and I just, there are so many different opportunities out there, I really do want to focus in and so I like self storage, but I keep I keep thinking about strip center, retail and industrial. And so I've had my eyes open for for one of those in my area that I can get my hands on. 10:49 Nice, nice. Yeah, I like I like storage, storage is definitely unique. Opportunity. There are all your units locally, I used to get picked up on in Oklahoma, or the only overseas overseas in different states. 11:01 Only two are here in Washington. Everything else is. Let's see, there's a lot. There's a few in Texas, and then Arkansas and Indiana. And Oklahoma soon. 11:13 Do you have staff on those? Are they've been up to have staff like on person staff? For those? 11:19 All? Okay. Both of the mobile home RV parks have a on site property manager. One of the self storage facilities has on site help, and the other ones are remotely managed? 11:34 Yeah, cuz I know. I know. But technology, it's it's been able to remotely manage a lot of stuff like that, as far as, like, are those different sizes? That why they're smaller, they're remotely managed or hit a certain size you have on site person? So what's the what's that parameter live life on your side? 11:50 Yeah. So I mean, it varies, because if you have a 50,000 square foot self storage facility here, downtown Austin or downtown Seattle, it's going to be making a lot more money than 50,000 square foot facility in the middle of fucking Midland or some some dark of a city out there and apologize for swearing, I tend to do that sometimes. But so yeah, it just, it really depends on the facility itself. 50,000, you can get, you know, 30,000 and above has the potential to allow for onsite management. Under that, it's just it's kind of a way to close. 12:35 It takes away from your bottom line. Okay, so what are what are tools and resources, you use this self manage remotely through automation. 12:47 So the, there are some specific pillars, and I've learned this the hard way, buying self storage facilities that you need in order to really remotely manage. One of them obviously, is a fence. And this is something that I did not have at a couple of facilities. And I've learned that homeless people really like self storage facilities, they can, they can rent a unit from you like a normal person, and then they can live in that unit. And then they can have all their other homeless buddies come in there and trash it out. And so you got to watch out for that. And the biggest thing when it comes to vandalism is just having a fence around it. AND gate. So the first step of the automation process, you get your fence and you get your gate in and then you connect that gate to a an automated system, your CRM system, we use easy storage solutions. So what that does is it automatically prevents people from entering the property if they are delinquent on their account. So a lot of people, they'll, they'll rent a unit from you, they stop paying, but they still are using, they'll still be storing their stuff there. And it takes a while for you to get through the auction process. The eviction process has stuff like that. So if you have this automatic gate, the second they are delinquent on their account, their code no longer works. And so now they're like crap, now I know I need to pay in order to get my stuff out. So automatic gate is is a big one. Outside of that you need your security cameras and those ones. There's a few things if you're managing remotely. I have heard of this being done but I haven't done it myself. I've thought about doing it at a few facilities but you can get security security companies to remotely watch essentially the the security cameras and then call the cops when vandalism when somebody's breaking into the property. And then there are things like DaVinci locks, which you can use to lock out all of your all the non used units. There's other things that people do like they do digital locks on the end dividual doors, that's expensive. And it's not it's not worth it unless you're your facilities giant. And so really just your your CRM system, we use these storage solutions, the automatic gate, and then security cameras. That's the basis of having a an automated facility. 15:19 Automated facility. Now I know technology has like made things a lot easier. And there's been a lot of like updates and upgrades into certain niches. So I knew I knew there was something out there that was there for storage, I just haven't heard. And they're gonna heard of it, but she lacked before. That's, and this is where like, I know, it's really important to like lock your empty units, because people might overflow or you might get random strangers in there to one day. 15:46 Yeah, yeah, we one of our facilities, just had a hell of a time with vandalism until we got the gate and the and the fence in there. But yeah, it's, it's, you know, those, there's a lot of tools out there that you can use the ESS, the easy storage solution platform, the management software that we use is really good. And, you know, be some guys that do it. You know, I buy facilities from guys that use Excel, and just pen and paper and it's just like, how do you run this business? It's just crazy. 16:22 Yeah, for everybody out here, CRM will help you save your business tool in your industry. If you're trying to grow your business, it really is. That's a that's an easy no brainer. But I didn't know that was, like, integrated with your processor. That's cool, though. It's definitely interesting and interesting technology. So let's talk about like your, your larger units to have onsite staff. Do you I've heard of other people like working on like discounts where they might have like an RV park, like you might have an RV on bonds on site that they might get for free or something you'd have, you have like your on site, people like that, for your like RV park and your storage or something similar, they might have a unit on there that you get for free or something. And then yeah, 17:07 we always give for both asset classes, we give a unit for free. And so you know, storage, they'll get a storage unit that they can use free and for RV they can either have a site that they get rent free, or they can we have actually an apartment on the on site that they'll that they rent out, and that's what she chose to do is rent out that that on site apartment. 17:33 So you get like a flat pay and the ability to use that. So it's like a bonus. Like you said they get to rent it out. And they get that bonus outside. Yep. Okay. Yeah, I know. I know people would like so they're really they gotta get creative sometimes with like these rural rural locations. 17:51 Yeah. Yeah, that's the hardest thing is finding good help. And I know it's kind of universal is finding finding somebody that is reliable and trustworthy to help you out. But I feel like Yeah, especially in rural areas, it's just really hard to find somebody that you can rely on to to do the work. 18:11 I think I think one of the biggest things that's underrated is like thing are from cash, because that's going to help you from not getting stolen from. And it helps you keep your accounting and orders and order that you know, who's delinquent and who's not, I think just digital that way, because I'm sure these mom pops up spreadsheets, they take cash, and there's there's a money drop off box with envelope. Like, 18:34 yeah, we, when we bought our Indiana facility, we actually lost probably about 15% of our customer base, that we're currently renting out units because we completely cut off cash payments, and we said there you don't have the option to pay in cash anymore. You have to pay online. So probably about 10 to 15% of them left the facility because of that, but it's just it makes it makes running the facility so much easier if everything's cash because most are going to put it on auto pay and so you don't have to like be chasing these people down for their payments. Yeah. And yeah, online payments is so much easier. 19:13 It's a necessity necessity. Do you self manage? Or do you have managers in place like the help like I'm sure you do but you said you have to you have onsite managers but do you have like self management on the back end like overview side of it? 19:26 Yeah, I use third party property management, 19:29 third party property management. Okay. So you still you're really your your passive in this pretty much 19:36 more or less. I mean, it's nothing's truly passive. I feel like no Hunter, but it's, yeah, I'm not. I'm not taking the calls when it comes to people you know, calling in to rent a unit. But there's a lot of options for that. You don't need to use third party. Like ESS e storage solutions. They have a call center that you can you can use sent Usually, and they'll take the calls, they'll rent the units out all that stuff. And then you just do the back end. And that's relatively inexpensive. I don't remember how much it is, but I think it's like a couple dollars per door or something like that. So it's cheap. Or you can do it 100% yourself, I definitely would not recommend that. I think in the past like, week, we've had, I don't know, 300 calls or something like that. And so it's not, that's not something you want to you want to take on? 20:28 I am not an answering service. Yeah. No, I think I think it's cool. There's a lot of resources out there to go into this commercial space. Now, are you a long term holder for these commercial units? Are you like, you have like a five year exit plan and recycle, repeat, rinse, repeat? Yeah, my, 20:49 I've always wanted to just buy and hold a couple of the small I'm actually selling to the smaller facilities I have, because I you know, as you get farther into real estate, you realize, you know, you learn more you evolve, you get better at what you're doing, you get you figure out more efficient ways to grow your portfolio, and I am doubling down on certain metros, so any metro but I only have one facility, and that's too small. I don't want to own that. And so it's hard. What was the original question? 21:25 It's like going off on a tangent, or holding or selling, but you're focusing on certain markets that you like, based off returns and vacancies and all the stuff that you've seen now that you hold property in that asset in the area? 21:39 Yeah, yeah. So I, the goal is to long term, you know, own these facilities, hold them, but we're selling off the ones that don't really fit into our strategy, our overall goal. Yeah, 21:52 that makes sense. Yeah, and you learn, learn the small assets, you might get a better cap rate, or, as always the best deals and yeah, it's gonna, the market is gonna really help you out. And if you have to neighboring or in the same vicinity, you're gonna get, you can build yourself as a local brand, in that area, build more credibility with people that do are and are looking for storage. So I understand that I understand it, and build that kind of conglomerate where you could turn into the next U haul storage, whatever the 22:27 Public Storage owns so much real estate out there. It's it's just absurd. Considering that they got started way back when I could only imagine how they're the profit that they spent on every month. Because, man their their, their facilities have to be, you know, paid off. And so they're probably running at like 25% op X, and everything else is just like cash just spitting out into the, into the world there. 22:57 But that that shows the investing game as a long term play. I think I think everybody underestimates that, like, five years isn't really that long of time when it comes into investing. Like he might not, you might just see great returns, but you really get your stride. The longer you do it. Yeah, exactly. The Stride really kicks in, you're like, Man, this is turning out pretty nice. 23:19 10 years. You just kind of keep going. 23:24 Yeah, it's a it's definitely a huge. I talked to an investor out of Atlanta, and he's like, in his 70s. He was like, I love this game. That's awesome. And it's like, it's something you can do today because it doesn't take intensive work. If you underwrite a deal today, it's not gonna really even change in the future. The money might be worth a little bit less, but you charge what you increase your rents, you know? 23:46 Yeah, yeah, I, I really do see myself doing this for, you know, until I die, because it's not, it's not super taxing in terms of like, it's not extra stressful, not physically taxing at all, obviously. And it's just it's a very relationship oriented business, all businesses relationship oriented, but I feel like real estate's a little bit more so. And so it's just a lot of fun. I love I love doing it. 24:11 Um, is your plan to like, pass it down to your kids? Are you planning to like build up enough units and sell that to public storage? 24:21 I don't know, the original plan was just to make enough to where I didn't have to work. Alright, and how you know, have to work. I could choose whatever I want to do that. And now I don't really have a grand plan. I'm just kind of working. 24:42 We'll figure it out when we get there. Yeah, exactly. Well, these days. That's good, man. Have you had any like issues come up with like RV parks? With certain areas? 24:56 Yeah. Our RV parks, for sure. They can be, they can be a headache. Especially if you don't have a good property manager, just the drama that goes on in a mobile home RV park. It can be a lot. And so anybody the plus side, I guess you can split them into two different assets. We talked about RV parks. And there's the hybrid, which is kind of a long term stay RV park, which operates more like a mobile home park, but people can still move their units very quickly. And there's mobile home parks, and they have so low turnover. It's like 5%. And it's so mobile home parks are a bit different. If it's 100%, mobile home, they're a little bit easier. And RV parks are a little harder, harder because the turnover is higher. What we own is is it has mobile home units and it also has RV we operate them all like long term stay. And so the minimum requirement that we have is three months um, if you're not, if you rent for less than three months, then we essentially double the price. It's like we make it so you really do not want to to do a short term stay at our park and so yeah, they operate like mobile home parks. But with RV, even long term stay RV parks, there's a lot more turnover. And it's just it can be a bit of a headache. And so I would I would not recommend someone to start there in RV parks. I've never done multifamily. Besides, you know small duplexes triplexes Yeah, but I, I would suspect it would be a little bit easier, then RVs. And so I would, I would probably push somebody to go that route. But with that said, I mean, there's a lot you can do, especially with true RV parks with ones that people are coming there for vacation. There's a lot of fun things you can do. There's a lot of different, you know, revenue streams that you can make. So yeah, 26:57 I didn't, I've never I mean, I've heard of that. So recently, I went on vacation this a few months ago. And we ended up going to like RV park and had like mini cabins, a pool, arcade washer dryer, there's one little group showers and then it had had mobile homes in the back. And then it had RVs. And like it was a hybrid mixed everything. And I'm like this is interesting. Like, whenever I go to a place like that, I'm always like kind of revenue sources because they had a golf cart rental. They had, like in the winter, I think that snowmobiles over there too, because we're in the mountains. So like, it's just like all these little added little boosted revenues, they have like parking spot revenue and like the world. I'm just like, walk into this thing. I've never been to one before because I don't know what to expect. And I'm looking that's a revenue stream, how much that makes 27:51 a lot of those funky ones are they're all owned and operated by the owner. Like the owner lives at the, at the park and they they run all these tiny little businesses. And it's just like, I don't know, it's just so much work. It's like how did you How do you? Exactly, yeah, 28:11 it's like summer camp because they have like, play at the child area. And they had an ice cream truck out there selling food and ice creams like this is out of hand. Like literally, it was it was like it was like you can go to the RV park and never leave because they have the pool and storytime at the at the under the tree and I'm like what in the world it was It wasn't just it was it was a sight to see because I've never seen one firsthand. I only heard of those in on like Facebook and Twitter and Reddit. You only hear those stories kind of experience what I'm like I don't I don't think I want to be in that business. 28:55 Yeah, yeah, it's it would be rough for sure. 29:00 Would all that count towards the NOI technically because it's all income produced from the RV park 29:05 or Yeah, and that's the thing when you buy RV park because you got to watch out how they're doing their accounting because especially even with mobile home parks, there's there's Park on homes and there's tenant on homes and so a lot of mobile home parks what they'll do is they'll they'll rent out their park on homes the the homes that they own themselves at an inflated rate say the pad rates 400 They rent out the park own home for 800 but they account for all of that in their capitalization and their cap rate and so they their cap rate looks like it's a 12 cap but you can't capitalize the revenue that you're generating from the the home itself because it's a depreciating asset the mobile homes are not they they're not appreciating and so it makes it look like the cap rates super high but in reality you're only supposed to be taking just the pad rent so that if they if they're all packed Park on homes then essentially they're doubling their their They're gross revenue, and capitalizing all of that. And you could be buying like a three cap on the pad rent. And it looks like it's a nine cap, when you're looking at the, you know, the Parkland home rent, so you really got to watch out for stuff like that RV parks are the same, like they have different revenue streams, you never know where things are coming. Just make sure that your only underwriting or your base underwriting is accounting just for the pad rent itself and nothing else. 30:27 That was a good gym, everybody here, that was a great job. So where does that quantify into the purchase of the property? or doesn't? You give them like some Yeah, 30:38 so you can a lot of people will do a gross rent multiplier for like, if you're talking about Park on home rent. So they'll capitalize the base income from the pad rent, and then they'll do a gross rent multiplier for everything on top of that, it's a lot less than if you were to apply it like a cap on a certain amount of Analy. But you know, in ads, and so you can you can still give value for that income. You're not just saying this is not worth anything. But you're not adding that into the capitalization. Yeah, exactly. 31:11 That multiplier is a multiplier in the NOI. Can really? 31:17 Yeah, it can, it can get crazy. 31:19 It can get crazy. Are the units you're looking for like a B or CS or US positioning two A's? Or what type of class are all these different properties? are? They're all mixed? 31:30 Yeah, they're all mixed. Nothing's a there. I don't I never bought in a class A's trade for really low cap rates, and there's no value added. So I I've never really done that. But yeah, some of them are C's, but we fix them up. So they're probably be minuses now. I'm not gonna oversell my properties. But the Self Storage you know, they're they're they're good quality storages, but they're just small and a class storage is usually have, you know, their climate control. Yeah, exactly. Bay. Man, I went to a self storage near me out here. And the technology they use is just nuts. Like everything. Every door had, it's an app that you open it with. And so are my girlfriend went to this and it's just, you know, once you get to those really, you know, a class facilities, you can tell like, this is this is a different level, but you're gonna pay for it, because it's double the rental rate that I'm going to be charging you. 32:40 Yeah. That it's definitely crazy. Because like, and this is where like, you find it's all about finding good deals, whether it's not necessarily the the better the A class, like you say I deal with low cap rates, and that's annoying. Yeah. I guess I had a deal. My partisan would be like, is this a good deal? And I'm like, yeah, there's no value at it's a great deal. I'm like 33:09 I mean, it's a good deal. If you're super rich, and you just want to like, plop your money down somewhere. 33:14 Yeah, just want to ROI. I mean, I can do that. Yeah. That's type of this type of investing. We don't like we like value adds the opportunity to create income and create increase your noi to make it more valuable. So don't do we don't do this for fun. 33:37 There will be a day when I'm just investing in in triple net, you know, commercial properties, and it's just, yeah, that would be great. But not yet. 33:46 Yeah, that's true. Triple nets ever. There's so much triple nets that go look them up. They're amazing. Definitely. For the for the sleepy investor that doesn't want to do anything. 33:58 Exactly. 34:00 What is the quote that is yours or somebody else's that you resonate with? 34:05 Oh, man, I'm gonna butcher this so I can't really say it. But my favorite quote was I'm trying to like, bring it up to mind. I'm not gonna be able to do it. It's the it's I think it's like Fuck, man, put me on the spot. And I completely forgot. One of the guys in World War I think was Winston Churchill. He's talking about like, it's not the favorite quote. You think I know this right? I'm actually pulling up an thing here right now. It's not the one is it? Man, I'm ruining this. This answer because I don't remember. It's not like The credit belongs to the man who's in the room. arena, there's a specific, there's a My mind is totally blank. I don't have an answer. But it's Winston Churchill or something like that on World War Two basically saying the person who's actually out there getting shit done is the one that matters. It's not the person who's standing on the sidelines telling them they're doing a bad job. 35:18 Kind of real quick. The ability to work hard to show people how it's done. I was the first one popped up. 35:30 It's called The Man in the Arena quote, There we go. And it is by Theodore Roosevelt man, not Winston Churchill. Sorry, sorry, Roosevelt. 35:39 Alright, let's start. Is there a quote that you resonate with? 35:43 Yeah, all right. It's called The Man in the Arena. It's, it's a great quote. I'm just gonna read one line and says, It's not the critic who counts not the man who points out how the strong man stumbles, or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena whose face is marred by dust, sweat and blood Who strives valiantly who errs and comes short again and again, because there's no effort without error and shortcoming keeps going on but that's the gist of it. Just that you should be out there getting getting things done. Don't worry about getting hit in the face. 36:15 For everybody here that not take five minutes to find. It was he found it right away. He knew exactly what it was. And it was. 36:23 Exactly, exactly. 36:27 That's funny. I'm not gonna I'm gonna leave it. I'm gonna leave it there too. So for everybody here that it was planned out. That was the answer. That wasn't. I don't even blame you those difficult quote. 36:41 Well, I used to, I used to really like that quote, and I'd be able to kind of come up with it off the top of my head, but I haven't done that in like years. And so I got you. 36:49 I got I got you. See, I like springing that question on on guests. Because it's funny. 36:57 Because they're always stumbling to try to come up with their words. 37:01 It 100% and I bring it up because like, it's, some people are ready for it and other people aren't. And then it's kind of funny seeing people stumble. But not everybody does. But it's always it's always interesting. Because like I said, some people always like they always have a simple one ready to go like that? Oh, no, not and it just rolls off their tongue. 37:21 Well, in the future, I'm gonna be ready. You're not ready yet again. I'll have it you know, ready to pull out? 37:28 Okay, awesome. That's funny, man. The Real Estate Investing Club podcast, let's talk a little bit for that. When did you start that? 37:39 That was a product of COVID So I was Yeah, I was doing a lot of networking before COVID going to like Rheas you know, meetup groups and COVID hit and you know, kind of shut all that off. And so I wanted to keep talking with other investors and their podcasts just kind of came about I it was just such a random thing. Like I was I was sitting at my my old house and I just thought shoot I'll I'll try a podcast or I just wanted to do one recording. So I just like sent somebody an email or a message on LinkedIn said do you want to be recorded it for a podcast? And I just randomly came up with the Real Estate Investing Club as a name. They said yes. And then just kind of snowballed. 38:30 I think you're as crazy as I am. Because the sea has like 279 episodes recorded to date. And B lymphocyte. No, that's crazier than me as me. So you're, you have to the crazy people like me. There you go. Yeah. So it's a it's a lot of work. Yeah. But 38:48 we're getting it's a lot of work. Once you get kind of the system set up. It's a lot easier. And I used to do. I actually tried, when I first got started, I had two podcasts one was called pursuing greatness, because I was doing a lot of podcasts with, with real estate investors. And I liked that. But I wanted to talk about other things. And so I started doing pursuing greatness, this other podcast, and just to talk with anybody about, you know, anything that had to deal with living a good life. And so during that time, I was doing, I think two episodes a day, you know, right at the beginning of COVID. I didn't really have much to do. And obviously, I was focusing all my effort on this podcast. And that took a lot of time, but since then, I've cut it down. I only do it on Fridays. I do three episodes every Friday and that's it. 39:34 Yeah, it's a it's definitely hard. But once you at least once you get streamlined, it's kind of getting a rhythm. I am definitely in a rhythm right now. I am cranking stuff out and I am in a rhythm. I have editors that go editing crazy and I'm like, I have two editors because I'm like I will keep them busy. I will keep them busy. And it's it's kind of fun keeping They're busy, because I can see what worked, what they're working on. And I try not to like be like put too much pressure on them. Because I know it's a lot of work. And it's just 40:11 how do you how do you project manage that work? Do you just kind of have like a Monday or something like that, that you just kind of put a project out there and let him Let him go? 40:20 I have a spreadsheet. I have a spreadsheet that 40:24 whenever I date, I will never throw shade on Excel. I love Excel. 40:28 No, no, it's a Google Sheet. It's a shared Google sheet that has a title it once I record a title, I upload it to the shared file, they'll go pull it, share it, and then they'll pull short form out of it. So whatever, then I remember that editing long form the editing short form, so they're always editing. Like, it's a full time job. And I got two of them. So it's a full time job. Like right now, this week was crazy, because I probably had. I'm not at today after today. I'll probably record like nine episodes this week. Okay. Wow. Which is a lot. Yeah. It was a lot this week. And I still I think I have more. I'm recording Thursday. So I might record like 1314 episodes this week? 41:14 Geez, that's a lot. 41:15 It's a lot. And I'm pretty streamlined. Like, I have everything scheduled out. I have? Actually no, I actually have, I have a co host producing one this week. So I'm not going to be in that one. 41:31 No presents, 41:33 podcasts I don't have to produce is always amazing. It's always I just edit it. All I have to do is make sure they hit record and hit stop. And then I'll send to editors. And that's my job on that one. So I'm kind of excited about that one. Because it's been a while since I've done a podcast that I haven't had to do myself. 41:54 So why did the I'm gonna turn this back on you? Why'd you start podcasting? 42:00 It was a way to build up an audience to sell products. And I wanted and it was those two reasons. Three reasons. One, it was a way to build an audience to it was a way to talk to high level people and get an hour of their time. And three is SEO. Yeah. Three was sel. And that in that order, because I think number one it was is you can learn a lot from your guests in that short amount of time. And the second hour coaching call for free. 42:35 Exactly, exactly. It's crazy how much you learn. 42:40 And I've learned a lot and I and I would say all of this was a podcast. So I think one of it is selfish knowledge because I get I get to interview cool people. And number two I like is SEO because my name is Daniel Martinez. And there's a lot of Martinez out there especially Daniel Martinez. I was gonna say 42:57 this, that combination of names is very, I feel like I've seen a lot of grown up in my high school. There are some Daniel Martinez and so it's out there. 43:06 It's crazy. So this is why in all my videos, I'm Daniel Esteban Martinez, because I already got that now. So yeah, do you want to find me you can go to Daniel Esteban Martinez or Daniel hivemind. Like it says right here and you'll find me because you put Daniel Hi, Daniel hive mind I come up every time because I've worked on SEO. So it took a lot of work. And it took a lot see it. Here's the other thing there's a bicyclist named Daniel Martinez who I'm trying to knock them down I have his number and I'm trying to knock them down he's he's looking it up right now. Look it on 43:46 Martinez All right, a Colombian professional road racing cyclist. 43:51 See See. You have to fight see after fight the Colombian bicyclists. So and he gets on the news and I'm like, man, it's an uphill battle but I'm gonna I'm coming for him. Whenever I take whenever I take whenever I take over the bicyclists, I'm gonna be like, mission accomplished. Mission accomplished. He may retire soon. Who knows? I'll never see him on Article ever again. But it's definitely the podcast is fun. Man. I enjoy having these conversations and you don't know what you're gonna learn. Like, once I was like, think about this, like, if I can learn one thing from that whole conversation that makes it worthwhile. That's it man. That's it. And you as a listener might learn a few things but me as host and producer. I just wanna learn one thing as well and one thing for every guest and usually that takes that it like snowballs into some giant thing but who knows what will turn down the future. And then I'll keep it and the other the other the reason why I like podcasting is the amplification of it. We can dedic me and me and Gabe here dedicated, was 45 minutes right now on this episode. But now it can be infinitely stretched and listened to over and over again for infinity. And that's the beauty of this. 45:18 Yep. Yeah, it is. There's quite a few benefits to podcasting, both as a host and guest. I think my favorite, I mean, so much that I've learned from all my guests, it's, it's pretty, it's pretty crazy. And it also helps me kind of center myself in the job in the goal because a lot of times, you know, as a, as an investor, myself, I, I work remotely, I don't go into an office with people all around me doing the same job. So doing the podcast, having talking with other people who are doing real estate, who are active in real estate, it kind of helps me center myself in, in the community. So yeah, I really like it. 46:02 What has been your biggest benefit from the podcast? 46:07 I mean, there's tons. There's the accumulation of knowledge over time. One of the properties I bought with one of the guests on my podcast, he's a he's a JV partner. Awesome. I'm, yeah, I'm doing a syndication right now. And we're raising the money for your podcast. Yeah, you know, tons of stuff. It's podcasts. If anybody has the inclination to do it, I would definitely recommend it. If it's not your jam, don't do it. Obviously, you got to sit and talk to people. But if you like, if you like that, it's it's definitely worth it. 46:41 Yeah, I'm glad you mentioned the deal, the deal being created even a JV partner, because I always can, because I have a CRM and I always convince my get I like, hey, hop on the podcast, you'll see what happens. And I'm like, I don't know when it's gonna happen. But it's gonna happen where you're gonna get a deal from this, you know, thanking me later. And it happens every single time. And I'm like, I'm talking about, 47:04 yeah, things come with things, especially in real estate. I feel like things just come out of the woodwork. It's never what you're expecting. It's just like, a deal will come from here, connection will come from here, and it just kind of all coalesces into a good deal. Yeah, so you never know when things what you're doing will lead to the result that you're looking for. 47:26 I had a I had a client. He was contacting your seller and the seller actually found his video of us on our podcast and begin the deal he made like 60 grand. So like that's, that's type stuff that happens. Like once you're out there, you're out there and anybody can find you but benefits you because it provides credibility. 47:45 Yep, Yep, absolutely. So it's kind 47:49 of cool. So if you're out there, go start something you create or not consumer, or you go where people find you online. Gabe, I appreciate your time. Thanks for coming on. This has been eye opening episode for me and I learned definitely one thing. So that's my goal. So we're on your online and tell us about where your podcasts where people can find your podcast. Yeah, best 48:11 place is the website podcast website. It's the real estate investing club.com Pretty easy. So the real estate investing with an ing club.com The podcast is about real estate. I do commercial so I focus a lot in on that Daniel came on talked about land investing, talked about software creating a software earlier on and so you know, a lot of good guests we have a lot of fun there. But yeah, if you want to email me it's just game with real estate investing club.com 48:44 Here you go. I hope you enjoyed this episode. Go Live subscribe and go like subscribe, leave him and review he's on the side. Go like star review. You'll share with a friend we will see you on the next episode. Thanks for time gave you have a great day. 48:58 Right on. Thanks, Daniel.