0:01 Hey, welcome to the next episode of the hybrids podcast. I'm your host, Mr. Daniel Martinez. Today I have a returning guest, Mr. David Kupo. He's going to talk about a partner story. But this is our episode breakdown called deal breakdown. We talked about cool or interesting stories. If you'd like episodes like this, please click on More like this. And please like and follow. Mr. David football. What's your story got today? 0:23 What up Daniel? Yeah, man. So what I was wanting to be able to share with people is something I went through. And I know that in the real estate investment community, especially as you're starting out, it's very popular to go ahead and get partnerships going. Right. I think as in some of my, some of my students like they come in, and they want to be partners and be able to go through it right. But what I would be able to say is, you know, I did go through last year where me and my partner split up, right, we thought we had an eye to eye, but it's a marriage. Right? And hey, not all there, as we know, here in America, not all marriages last right. But I think it's very important for people to understand when you're picking partners, what is it that the other person brings to the table? And Ken, you have what we like to call swim lanes, right? You know, you don't get in Michael Phelps's lane. Let Michael Phelps do Michael Phelps and stuff in his lane, right. And then, you know, what was the other guy for from us? The guy Ryan, whatever his name was? Let him be in his own lane, right? Yeah, Ryan Lochte. You There it is. So you have you know, your swimmers stay in your lane and then be able to be able to do really well, right. And so what it's really important to understand is that there's usually a two person dichotomy. It's called the visionary and the integrator, right? Somebody that has to come up with a plan to be able to be the cultural leader or sales leader. And then you have the integrator who is the person that implements everything, right. So it's very important to make sure that when you're looking and you find a partner, you guys sit down, you have like a real like, I would call a borderline dating, right, get to know each other a lot. Find out what you feel like it's complementary to skill sets, and then certainly being able to make sure that person is just vested in it as you want. 2:15 One thing I'll say to this too, because I have a partner too, and it's 100% opposites of carrying the load and burden. But I think if you're looking for a partner to do a JV deal with them, just have a handshake. And before you actually get to marry each other, do a couple deals together, make sure you're compatible in that in that aspect. Because 100% I've seen part, because I have saw a bunch of clients, I've seen clients break up over different things. And if you're gonna butt heads across the same things, it's not gonna work out long term. And it might not it might work short term, but it's one of the things where you always have to have the hard conversation of, hey, this may not work long term and may whenever you're ready to go, was just one thing. 2:56 It was like a breakup it. I remember, I remember the field very well, and, and a partner, my ex partner now he's doing really well here. He's actually not even really doing anything with the RTR world that much. But I think at a certain point, when we are building this company, right, we were scale, scale, scale scale, don't look back scale, scale scale, pushing very hard, right. And it was it got to a point where I think we tried expanding that balloon too quickly. Right. So we were letting our revenue go up really high. But we were letting our expenses go up really hot. Right? And so when that when that kind of financial strain happens, that's where that that partnership got tested. Right. And so I had to learn from that, right? One of the first things after me and my partner split up, I sat down with my CPA, and I was like, every two weeks, we're meeting and we're cutting some stuff off, and we're replacing some stuff, and we're pushing in on stuff that is producing money for us, right. And the great thing is that my CPA was completely on board to help me out. We've completely switched it in one year. And it's crazy, you know, you can under you can totally underestimate what you can do in one year, but it was just concentration, and that kind of discipline meeting with the CPA saying on top of my expenses and tracking it consistently. And when things started happening, you know, and the third quarter going into fourth quarter and people are starting to panic. I was I was comfortable. I was pretty comfortable. I lost a lot of deals. I lost nine contracts, actually between August and September. But you know, I got the the financial stability I needed to that I could weather that storm. And if that had happened to me if I was running the same business model from 2021 Going into 2022 from 2022 going to 2023 I think I would have gone belly up. 4:47 Yeah, there's a there's definitely a transition that happens. And that there's I've seen a lot of entrepreneurs and real estate people. They're not making it past first quarter this year. They might have already fell under So it's one of those things the times when you adapt the times when you adapt it really puts a pressure on a lot of things so happen for you a year prior because man feels this year. 5:17 You want man blessing in disguise I mean listen, I got thicker skin from it. I learned a little bit more about myself I had great mentors to I don't even want to act like this was all me you know pat myself on the back like I had I had good trusted people that were in my corner in the in my most probably most time of need and were able to guide me and I took action on a lot of their advice and turned it around. 5:44 That's a that's a great point, man. I hope man I hope you guys learned a lot with this one a lot about partnerships a lot about dating your partner hopefully you do some transactions with them before you actually go out and start an LLC especially if you're starting out new LLC 500 to $1,000 fee Do you have a lawyer do it so definitely definitely weigh out your partner before you get 100% with them 6:07 because you can start a lot larger a lot of drama 100% 100% 6:14 We're getting funny on line. Great episode up he has learned a lot man. 6:18 Yeah, absolutely. So I put my I put my my username right there dollars with David Right. So you could find me on Instagram Facebook, Tik Tok. We're starting to launch out the YouTube videos and channels. I wouldn't say I'm that crazy deep into yet. But you can also find me through triple offer.com. That's my coaching program where we show people on how to get more deals with the same amount of lead volume that they're currently using, and then how to scale that up. 6:46 There you go. Please, like share it with a friend. If you need some help with anything. Triple offer.com Check it out. We appreciate you coming on this episode. We'll see you on the next one. Thanks, guys.