0:01 Hey, welcome to the habit this podcast. I'm your host Daniel Martinez. Today we have a gosto Pintas Pintas. Spanish he's Italian, I guess is the Spanish side of me talking this twice I did it twice today already it was funny All right 0:19 Augustine know Yeah, I do it Danielle doing doing all right. 0:22 I'm good man. I Spanish just comes out. I know, man, I will put the Country column from today. I'm 0:31 from Cleveland, Ohio right now that's from that's where I am yeah, doing deals, singing deals in front of make some stuff happen. 0:38 A lot of people like leaving because it's a cash flow market. 0:41 It is exactly what it is. It's a cash flow market. And, you know, that's that, to me is where you want to be. I avoid appreciating markets, like places like New York and California. I mean, you avoid it because it's just a terrible place to invest in my opinion, because so tenant friendly. But yeah, cash flow markets are what matters, especially when we're an economy like we are today. Right? Makes total sense. Yeah. 1:04 So you're a commercial investor only been doing commercial. 1:08 Wow, I've been doing commercial for about five or six years at this point. I started doing like resi, a long time ago, like almost 20 years ago started doing like small multifamily and single family stuff and, and took a pause in 2008 to focus on career and stuff. But then I reignited everything all over again, and started just buying multifamily like crazy like workforce housing stuff started buying that stuff like crazy. So now we do that we do development, and we do net lease. So, of course we have our education business as well. But when it comes to acquisition, those are three things we focus on. 1:46 How do you go? How do you feel about residential? Because I know we talked about off camera, but I want to ask you on camera, how do you feel about your 1:52 mental assets? You know, it's, it's there. In my opinion, there's a higher level of risk involved in in single family, believe it or not, right? Why? Why would I say something like that? Well, the more units you get, the lower the risk overall is if you're the only one owning everything, all right. It's just multifamily. The reason why people get into multifamily is because you have more units of the same roof. Well, if you have single family you have you have 100 roofs, for instance, right. But if you're at a time like we are right now, and some of these tenants stop paying, and it's like, that happens a lot more frequently in single family just than you think it does, especially in that C Class range, right? Yeah, the last thing you want to be doing as be stuck with 50% of your portfolio not paying, and you're leveraged at 90%. Like right now you're screwed, right? So it's the last thing you want to do. So that's that's the thing with single family. Yes, it's it's especially here in Cleveland, it's air quotes, cheap, you know? Yes, it is cheap. But you know, what do you get for that? cheapness? Right, it's you have to buy if you buy a lot of them. In my opinion, that's just my opinion. You know, you have to buy a lot of them to to offset that. That risk. 3:13 Yeah, I'm nowhere near house guy. I spoke on stage last week or two weeks ago, I was like, I've only done one house deal. And I can say that confidently. 3:23 I've done a lot of them. I've done a lot of them. I mean, I'm certainly no, I'm not doing like, you know, 500 houses a week or whatever. Right? I've done quite a few. And I can tell you that. Yeah, I mean, it's good when it's good. But when it's bad, it's bad. So it's, that's why it's like you want to make sure you have enough downpayment in the deal. They can still pull equity out if you had to, or refinance some or whatever the case may be or buy a lot of them. So that way, the people that aren't paying are offset by the people that are safe, at least cover the note. Right? You're treating it as one big portfolio so it's a different methodology when it comes to management 4:01 100% 100% I want to pick a little bit commercial university do a lot of stuff with land and stuff like that. But how do people get started in commercial because I think a lot of people they think it's it's too big of an asset class and they might not be have experience with it, or they might want to venture to it, but they don't really want to start there. Like, what advice do you have somebody that wants to like maybe start in commercial? You have any advice for 4:23 them? Yeah, sure. Sure. Sure. Um, well, I'll tell you what, it's all like what the Guru's say on Facebook. All right. The gurus will say that the guru was trying to shake it down for 25k. So they're trying to do right. And the Oh, it's easy. It's a piece of cake. Anybody could do it? No, no, no. Calm down. It's not right. It's I mean, once you have experience, yes, it becomes easy, but when you're starting from that zero to one is very, very tough because you really have to build a momentum to get there. So how do you do that? You get you have to get the knowledge and you have to be around the right people. It's those two things. All right, getting the knowledge, like, okay, there's an ebook, I have guide Guide to brokers.com, go there, download the eBook totally free, right? It talks about meeting the brokers, talking to the brokers getting in front of the people that have the deals, the brokers have the deals, you don't want to go to loop net looping, that's where deals go to die. Right loop, that's a great place to learn how to underwrite deals, that's it, right. But you can get in front of the brokers, then you can build a rapport with them. And hopefully, one day in the future, you're able to get access to some of the deals that have in their back pocket, right? It's not gonna happen overnight, though, it doesn't work that way, the brokers still give this they get a deal, they're gonna give it first the inner circle, the next circle. So if these people in the middle don't want to do the deal, then it goes out. And if none of those people end up with it, then it ends up on LoopNet. So it goes through like three or four different levels of people actually look at the deal before it ends up on in the trash heap of LoopNet. Right, I know, I'm beating the hell out of LoopNet. I'm not like, it's like I have anything against those guys. I'm just saying like, you want to try to get the deals directly from the brokers. We also have another ebook Guide to capital.com you can learn how to raise money there. But first, you have to look at some of the brokers, you have to also get to know the property managers to pick a property manager, right? Get to know a property management company that you know you like them, and you trust them. And tell them what your what your vision is for the business of trying to build. Because essentially, you're building a business like real estate is not just oh, just go buy real estate. It's not that it's a business. It's like any other business, if you're if you're gonna start an E commerce business, you're going to start an ice cream shop. Or you can do real estate. Also remember businesses, they are right. And you have to if to go and when to go talk to the broker, you have to tell them yes, I have. So and So Gary is my property manager. Oh, yeah. The broker will say, Oh, I know Gary, Gary is good guy. If you're working with Gary, that means you're a good guy too. You know, so you pick a good property management, that group that is in the city, very, very active, and have good name behind them. Don't go with some out of state clowns or anything else like that. They're just clowns go someone local to the market, they trying to go buy in, right? It's very, very important. And then getting around the right people like, I cannot stress is part enough, man. It's people often lead with me, me, me, Daniel, I'm the most important guy here, Daniel, where what I should be doing is Daniel, what do you need? What sort of problems do you have in your life? And how can I help you solve them? If you lead with the with delivering value first, the chances of you getting in Daniels in a circle, for instance, goes out much greater, right? So someone comes to me and just hey, look, I found this amazing deal. I already underwrote it for you. If you if I'll even help you raise the money for it, I'll cut you in for 10% of my it's like if I'm not doing anything or but but minimal but bringing my balance sheet to the deal. And you're doing all the work but you just want to get my name on it and build it build a rapport. Why not do it? Don't get greedy. You know, it's deal. Number one have a cool could be hundreds, right? That's that's really what it comes down to is delivering value to someone that could change your life. You know, that's what I that's what it is, man. I mean, it's it's not that hard. I mean, it is hard, but you don't know what you're doing. Right. And I learned the hard way, of course. And now that I know how to do it. I help other people get into this game too. So most of us learn the hard way. Yeah, most of us do. learn the hard way eggs. Absolutely, absolutely. Recommend 8:47 you lose a few million dollars on the way out. Yeah, that's right. That's right. One thing I really want to dig in on is that one thing I really love is it's about the it's not less about the deal less about the money, it's less about, it's more about the connections you make to buy the asset. And then one thing I really want a second on is honing on is that dealing with people locally, one thing I've noticed is that when you get into a higher level game, there's less people up there. And I'm 100% don't agree with you. And I really want to point that out that people in the local market know everybody that operates in that sector in the local market is huge. 9:22 And says absolutely, absolutely. Yeah, that's that's the thing. I mean, especially in a place like Cleveland, Cleveland, not some certainly not in New York City. You're not Miami or things like that. But everyone around here knows everyone else. Right? And I imagine even in a place like Los Angeles or New York, if you're a player, people know who the players are. Doesn't matter how big the city is, right? The players always stick out. Right? So you want to try to help out one of those players that you may not have access to those sorts of people and that's okay. You know, I think part of it is is even if you connect with an up and comer that is that is doing great things, making great things happen. And the find a way to deliver value to that individual is huge, is huge. You know? It's great. So that's, that's really what it comes down to man. It really is. 10:14 So let's talk about a little bit of the what you're kind of doing now, as far as you said, you said, we spoke I spoke off camera for everybody here listening, but we talked about like, you're looking for dollar generals, and those single Net Lease properties. Are you buying the leases? Are you buying the ground leases? Are you buying the land and creating the leases? Like, what's your strategy on that? 10:37 Sure, sure. Sure. You know, so yeah, we have a blind pool, right? So we're raising money from investors, and they put the money into the deal into this into this fund. And we when we do that, we tell the investors Okay, Mister missus investor, we're looking for dollar stores, or we're looking for pet stores, or we're looking for pharmacies, or whatever the case may be. It's usually when we define what it is that we're looking for. All of them have a corporate guarantee or franchise guarantee all of them are in good, good areas, we have certain return targets that we have to meet to write. And the cool thing about it is and we're buying the asset, we buy the land, the building, and the lease, yep. Right. So we buy the whole kit and caboodle, right. And we own the whole thing. And the cool thing is that for the investor, they're earning a nice, nice, solid, monthly return. So because because it's so predictable, because Dollar General pays their rent on time, every time that like, it's like clockwork, we know when the money is coming in, we also know we can deliver a check to to the investors. The cool thing about it, though, is that we don't we don't just buy one store two stores, or three stores or whatever we're buying, like 1015 20 of these stores in a single fund, right to buy these locations. So let's say for instance, this Dollar General decides they're going to close the store up whatever, well, if they close the store early before the lease is up, they're still paying no matter what all right. But let's say it goes dark, for whatever reason, while the rest of the fund is still putting money into your pocket, because they're all They're all producing money, right? All of them. And there are different, there are different timing, right? Meanwhile, this one goes that goes dark, we either sell it off, or we go ahead and put another tenant in there the tenant, right? If so, but the cool thing about the fund model, is that where you have redundancy within the fund itself, and you get a nice steady return, or you can become a billionaire off of it. No, you're not. It's not gonna happen a while, right? I just saw some some PPM I got earlier today. It's like 25% IRR. And I was like a bunch of nonsense. It's a stupid, right? No, we're not gonna get that here. Right? This doesn't do that. This is good. If you're, you're you're investing in a bunch of stuff, but you still want nice, steady, reasonable returns of risk adjusted return very, very low risk. But you know what? You can count on that money showing up no matter what happens. That's the cool thing about it. Yeah, that's what we that's why we like those deals. Holy. But 13:11 how long ago? Did you create your first fund? The 13:15 mean, the very it means for this net lease stuff? Yeah. Yeah. So we only did the first one two years ago, right. So it's fairly recent. But a friend of mine has been doing it for about seven years. So we basically learned the ropes from him and invested with him and got to know how to put all this stuff together. So we've been at this for a while, we just set up our first one on our own about, so yeah, yeah, so it's, uh, but it's because of my background is tech. But before I did real estate, I was doing it in technology and running large tech groups. There's a heavy, heavy, heavy technical bend in all of our business, including the net lease business. So we use quite a bit of high technology to identify good opportunities to underwrite deals to underwrite tenants, and, and even to, to analyze deals to, which is a big part of it. That's where the money's made, analyzing the deal. You know, that's where the money is always made. 14:12 Are those like triple nets or double nets are what type of leases are they normally? 14:16 It depends. Yeah, it depends. You know, it's funny you mentioned that because a lot of these guys will talk about all its triple net lease triple net lease certainly is triple net lease. Yeah, there was a time when all of them were all triple net lease. This time in history. When everything was triple net. However, someone will refer to something $1 General as triple net, because that's how people know it in their in their brain is triple net. However, the lease determines what the nets are. Right? The taxes, the insurance and the maintenance, right? Yeah. And the lease will determine sometimes they'll say triple net or double net, the look at the lease, and it's none of those things. It's what you know, or It's like, there's deals I've looked at that there's no increases. I mean, that's not really part of the nets, but it's like you really have to go into the lease defines everything. The lease is where it all matters, right? It's the lease, the lease will define, like I said, what the nets are, who's responsible for what, and that's really what your underwriting starts at is what says in the lease. That's so funny. 15:23 So you're buying and you're buying and lease is already in place. And I think this is the funniest thing, too, is that a lot of people don't know what to ask to put in the lease. So when they're trying to sell it, they think they're gonna get this certain valuation. But after the, and this is where like the dollar generals there, they've been there been in the lease game forever. So they know what to how to how to stick Yes. Stick it to that new person isn't the old they're doing. And they will do it, and value your lease. And then you come around, like, hey, this isn't a triple net, this isn't even a double that. This is where I'm prices? Because this is a single net. 15:58 Yeah, it's, that's the thing. I mean, negotiating these leases is it's these sell here. And here's the thing, I mean, you really have to know what you're doing. Can anybody go out there and buy Net Lease by Dollar General? Sure. They can. Anybody can write? Yeah, here's the thing, the guys that d G, or Dollar Tree, or CVS or whatever, they have an army of attorneys. And all they do all day long, is negotiate leases, that is what they do. All day, every day in here, you come with your one location, and you're suddenly going to negotiate a deal, right? It I'm not saying you can't do it, but at the same time to do you really want to go up against guys like that. With like that. All they do all day is negotiate stuff. Like we negotiate stuff all day long, with a variety of different deals that we're working on. Like it's not just in that lease business, we do commercial deals, we do development deals, we do stuff like that, right? So that's what we do. And you have a certain level of expertise. And when you when you figure out net net, the overall return of buying your own asset, versus having having a level of redundancy across multiple assets for the same amount of money you're putting into the deal. It's kind of like, why would anybody want to mess with that? You know, it doesn't make any sense. When you think about it, right? We got the resources to go in, you know, the going negotiate these types of deals with these players that are not whips, they are not pushovers. And they want things the way they want them. And you have to be able to negotiate that. You know, 17:34 the funny one thing I'm we're dealing we're delving a little bit into the front side of it, we have a 15 acre property commercial, and Lowe's is interested in it. Yeah. Lowe's is interested in like 10 acres. So we're trying to get them to either buy the 10 acres or buy the 15 All of it, and have them deal with whoever they want to deal with it. But this is one thing where they want to acquire all of it and not do a lease. So we're talking to our commercial manager. And she's like, you have either a don't negotiate the lease, nice leases yourself a find that person that negotiated with them last. 18:10 That's right. That's right. It's usually a law firm. Right? Just find out who the law firm is that did it. Right, usually. So it is, 18:18 is there a trick to find out which law firm is the right person to call for that deal? I know it's a hard question. 18:27 Yeah, that is a tough question. I mean, sometimes, sometimes I'm just trying to think of how you would find them. What comes to mind. This is a long shot, man. I don't know if this would work. So the the attorney that handles some of our stuff, the attorney handles some of our stuff is the resident agent on some of our deals. Okay, so if you think about it, in the last sale, sometimes it gets its public record usually right, depending on what state if it's a disclosure standard out you said Texas is this one in Texas, right, Texas Yes. Isn't um, so that sounds disclosure state that's a problem right? Very disclosure state because sometimes see, we're where the sale happened and who actually did the sale and even able to figure out like it'll take some work, 19:18 do a title search and find out who negotiated the last deal and 19:22 that's another way you could find it actually write their title search. So if you have any friends at the title company, do you deal with first American who's your who's your title company? 19:32 I can't even tell you. I don't even do the paperwork. 19:36 Yeah, so So over at first American, for instance, like I only use national title companies for everything. All right. I have nothing against the smaller title companies. I don't hate them or anything like that. It's because whatever we're dealing with an outside group, excited New Jersey, New York, California, whatever. I can't install one of my friends as the As a title agent because they never heard of them, right, but everyone knows first American everyone knows fidelity. You know? them right there. Yeah. So it's that's one of the things is that you want to deal with a national and typically the Nationals they have access to data that will tell you the transaction who did what and even who the it's possibly even who that who's a registered agent on that one. So that's a find that out. So if so if you have any friends at first American or fidelity or whatever, I don't know the name of their system, but both of them have that type of stuff. They can see basically any transaction that's ever happened in United States, like right away, they can they can look it up. It seems like 20:44 that was a gem right there because you want to use one that uses the process. So you want to work with people that actually do this everyday you want to work with your everyday had a company you don't work with everyday brokers want to work with you every day, property management company, all those are hope I was taking notes on that, because that's, that's what I'm understanding is the key is you want to use people that actually in the business that do this every day, because this is a very seems like a vicious business, especially with the Dollar General, those attorneys. Attorneys are the worst. 21:16 Yeah, well, it depends. It depends on the attorney. I mean, I I bought I bought a deal one time from like this attorney was was like a bulldog, like she was treating us as buyers, like, we're like we're stealing from her or something. It was it was the most bizarre experience. Not all attorneys are like that, though. But some of them are bad. You know, it's true. It's not bad, because they're just bad individuals. They're just bad because there's some of them to do the job. So find the right attorney, certainly very, very helpful as well. But if you do have if anybody in the audience wants to know more about Net Lease guide to net lease.com, again, great ebook that shows you how to get into generating wealth with net lease. So that's another free ebook, there's you go ahead and check it out. It's great. 21:59 I had a commercial lender a few episodes ago, and he was like, the lawyers and attorneys, they just happened to stuff to make sure they know that, you know, they're running $1,000 check to that lawyer. So I want to make sure you're getting your money's worth. 22:14 Yeah, that's the thing. I mean, and even then, you know, making sure like, like, there's certain things that I do on my PSAs my purchase and sale agreements that I that I add, specifically, right? So making sure that your attorney goes through his ads, those types of those, like your custom stuff in air quotes here, your custom stuff. In the PSA is very, very, very important. And a good a good a good lawyer, a good attorney is going to know what that oh, yeah, Daniel wants to have these five points in here, for sure. For sure. I gotta make sure it's in there. You know. So, you know, hopefully, whoever whoever you interview, and you should interview multiple attorneys, by the way, that they do a good job. It doesn't it doesn't always have to be the biggest, baddest attorney from the top law firm. It's not usually I've used those guys on the buyer side. It was terrible experience. I'll never do it again. Terrible, terrible, you know, so just because you pay more money doesn't mean they're going to do a good job. The guy was totally clueless. I'm not gonna say his name. But it wasn't fun. I'll never do that again. You know, I deal with the smaller, smaller firm does an amazing job. Great guy. 23:28 That's amazing. A lot of a lot of people they think it gets easier as you go as you get bigger and bigger asset classes. But I think with you as a fun, you're doing bigger stuff. Your attorney deck needs to be bigger because you need maybe different types of attorneys that do different specialty things. Yeah. Like everybody, like your your internal, like your resource team that you count on is good rose lap picker. Because now you have a fund you need to fund attorneys, and all that stuff. And now you're doing leases need to lease attorney to underwriting and all this other stuff. And then you probably need, I'm gonna have to sue anybody or anybody sue you. That happens. But you got like, all these different like Rolodex. They prefer professionals. 24:14 Unfortunately, if you're in real estate, you probably will get sued at least once in your life. It's going to happen. It's unfortunate, but yeah, it will happen. Oh, yeah, yeah. I mean, it's why I have an army of attorneys. Right. You know, and, I mean, aside from asset protection, you know, making sure that I mean, they could try there's nothing is this something in the in the LLC, you know, so it's, it's just a colossal waste of money for everyone, you know, but whatever, you know, it's fine. But that's, that's why asset protection is extremely important, you know, talking to a pro that knows how to do and not someone who just dabbles in it, but a pro there's, there's like there's a guy had on the show, coons his last name ce o n s. I forget his first name is. But he talks a lot about asset protection. I had him on on bulletproof cashflow A while ago, right. So I think, yeah, let's say, Yeah, that's him. That's him. Yeah, yeah. Yeah. So he talks a lot about asset protection and protecting your stuff. So in real estate, it's going to happen. That's unfortunate. But it will, it's going to happen. Everybody sucks. 25:28 What? Have you hit the capital raise for your fund? Are you still raising capital? 25:34 Oh, yeah, no, we're raising capital. I mean, it's certainly sticky right now, you know, it is, people are people are sitting on cash, you know, and, or people just don't have the cash. You know, that's, that's type of scenario that we're running into right now. The money's coming in a lot slower than it used to. And, and like I said, before, we're owner financing a lot of these deals now, right? So we can still get a nice reasonable rate. And, and the seller is happy, we're happy investors are happy, it all works out. Right? So it's, but it's one of those things that it's, you just have to find the right deal to make sure that it works properly and get out there and try to try to get a bigger funnel with a good value proposition to the to the to the investor. You know, that's, that's what it is, if you just have to make more phone calls, a lot more phone calls to find was in those stages of 26:27 prep? Are you offering your earphones? 26:31 varies? It depends on on the month, I gotta be careful, I can't really say too much, because then I violate SEC rules and stuff. So you forgot about that. I don't want to I don't want to go to prison. But I but I will say I will say that it's I think it's very reasonable. It's way more than what you get at the bank? I'll tell you that, you know, so. And I think the big part of it is, is that it's also a monthly return. So that's, that's one of the biggest things is that it's a good, nice, decent return. Like I said, you're gonna become a billionaire off of it. No, you won't. But you know what, though, if you're a working family, and especially these days, when you don't know what's happening in the market, you don't if you're gonna have a job tomorrow, you know, a lot of a lot of uncertainty, right? If you can put enough money aside to buy a bunch of shares and a net lease deal and get that steady cash flow coming in, rather than keeping it sitting at the bank. Why wouldn't you do that deal? Makes total sense. You know, 27:40 how are you raising capital? As far as Mark net? And maybe marketing? But how are you raising capital as a whole? 27:47 Sure, sure. Sure. So the way we do it is we do of course, first of all starts with outreach. Right? We do we do heavy social media presence. We do we doing the podcast, I mentioned our show earlier. We've been at the podcast game for about five years now. So known entity we've been doing this for quite a bit. We have a lot of downloads, a lot of clients, a lot of a lot of reach, right, but it took some doing, we've done over 700 We have a well over 700 videos and YouTube alone, right, just in a variety of different things. Right? So part of it is we have credibility. So whenever we someone does reach out to us and asks us questions about what we're doing. We can that's that's usually the first step is good, a lot of inbound, believe it or not, we do get some outbound in certain markets. We have we have a sales staff in New Jersey in New York, that's where the money is. So we do some of that stuff through events as well through just local events, that kind of thing. But I would say that a lot of people just hear about our funds, and they call us a lot of inbound. 28:50 I like that you're doing local events. I never thought about that. I think I think those are very underrated because I remember when I was in high school, I volunteered at a charity event for politics or something. I forget what it was. But yeah, a charity event. That's probably a great opportunity to do that. 29:07 Yeah. Well, I was even thinking charity event, but same same framework. Yeah, you could do that. Especially in your neck of the woods. You're we're in California area, Southern California. So like LA or something, right. So another close to San Diego. Okay, that's perfect. San Diego has got a lot of money. So your superpower being there is that there's a lot of money that wants to escape from all the California nonsense, right? So by putting together local events, that talks about real estate and sick and preserving wealth, especially preserving wealth, from all the crazy taxes, everybody's all about that over there. So the way you do it, of course is real estate so you can get a lot, a lot of good qualified individuals that will show up to those events as opposed to a place like Kansas City. Kansas City doesn't have the same level of prosperity for instance, that San Diego does Let's say anything bad about Kansas City, it just doesn't. Because in San Diego, a lot of developers, a lot of tech, a lot of IT workers, a lot of finance guys over there, too. They're earning a lot of money. In a smaller market, like say Kansas City, not as much, you can still do events there. But when it comes to raising money in a big market like that, for sure, New York, for sure, same sort of deal, right? Especially when there's a big value prop of getting away from all the crazy taxes and some of the the onerous tenant laws that protect them. Nobody wants to deal with that, man. Nobody wants to deal with that. It's ridiculous. 30:37 Amazing, amazing tip. I'm gonna have to have to dig in on that one. But I appreciate you giving me that information. One thing I really want to begin on as a five years in the podcast, I think a lot of people they want instant gratification. They want instant success. Now, they want. They want success after 50 episodes. And I think one thing that five years in the game, you're almost at 400 episodes. I think that's consistency all around and now you're getting inbound lead flow, which is amazing. That's the best part about podcasting and doing being publicly framed. What advice would you give somebody to maybe that wants to start a podcast? Or maybe there are 10 episodes in and duplicate your podcasts as well. 31:19 This is gonna sound terrible. Okay. This is gonna sound awful, right? But I will say this, all right. If you prioritize the guest, to deliver value to your audience, okay. Two things will happen. Number one, you deliver you deliver audio and deliver value to the audience, which is the point of the podcast, but number two, you get to get to make a new friend. Yep. Ultimately, your job of either you know, either a guest or the host of a show, is to make a new friend. You want to make a new friend. Sometimes it works. Sometimes it doesn't. Sometimes I've been on a podcast one time the guy I don't know what was wrong with the dude, he was all pissed off about something and let's get started right now, but Well, okay. He's just we got through all the questions. Alright, by clicks gone, like, never talked to him again. So ever will either? Well, yeah, probably will I remember his name, right. But it's like, it's but it's fine. You know? That's okay. That's, that's, that is not the point. Yeah, that interaction is not the point of doing the show. Right? I'm sure delivered value to the individual. Yes, I always do. Right, I strive to do it. Right. Yeah. But the point of doing these podcasts is to is to create a new connection, a new relationship with someone that you may or may not work with. Right? Always do the follow up, try to stay connected, don't just don't add them to some frickin list and with some other bullshit, tell them like, here's how I can help you. Like, in your case, your superpower is you have access to boatloads of money because of where you're at, right? The cool thing is, is that in a place like here, even like Cleveland, we have deals here, but the access to that type of capital doesn't exist. So So who's to say that you and I couldn't partner up one day you can, you can get your hands on massive amounts of capital. And a lot of those folks over there want to invest in places like this, because it's way easier to invest in a place like Cleveland than it is to invest in California. I 33:32 mean, they need that bridge, who's that bridge person that's going to connect them? 33:36 Right, right. And those so you're helping the investors make money, you're helping them secure their money and put it into a into a piece of real estate. That's a good deal. And of course, we went to because we make we're now friends and we help the investors everybody's happy you know, and we create jobs here and we here in Cleveland, of course, we create housing for people everybody wins works out very very well but the whole point of doing this it's it is a little selfish to think about it right? Yeah, my whole thing is like you know, I want to I want to make you friends that's ultimately what it is. So I prioritize that that's how I was able to get through all those terrible times of when we're trying to Getting Started it's like it's soft man. And and the thing is though, if anybody listens to any of our shows, any of the shows I don't run ads I don't do any sponsorships I don't do any of that stuff on my emails. All of it all of it. I find it on my own pocket every single one all of it right all their YouTube all of all the all the the any type of stream anybody sees we've paid for the whole thing all of it. Years years in the making here. So very different than what some of the other guys do. You know? Could we do it? Yeah, I suppose. Would we do it in the future? I don't know. Maybe. I mean, really thought about it all that much, honestly. But you know what, though? It's like I wanted to have it too. have a direct conversation with with the guest. And with my audience. That's why I removed those barriers. 35:09 Can you attribute some or all of your success to the podcast? 35:14 Oh, yeah, I pretty much all of it. Yeah. 35:20 I'm very, I'm very pro podcasting. And I tell people, like, it'll change your life, you don't even understand how it will change your life. You just got to do it for long enough that it will. Yeah, you don't know the extent of it yet. But you'll find out on the way. So I always I always commend people. And this is this is my, I guess my little tidbit, see you is that I want to thank you for coming on. And thank you for contributing. And thank you for creating because a lot of people, most most people out there in the world consume and you as a creator make a difference. So thanks. So that's my tidbit to you. But a lot of people and like I said, Five unimportant episodes in is not something to be taken lightly. And I know it takes a lot of work. I mean, I'm here today, you know, here today, for a reason, you know, and everybody here is able to contribute and appreciate that information. But there's a lot of effort that goes into it behind the scenes, 36:11 man is is a ton of work. But you know what, though? The relationships I forged, doing the whole podcast thing with changed my life, you know? So, I mean, certainly not just because I was able to make new relationships with new friends. Yes, that was a big part of it. I also get to learn from experts, right? Because on our show, we don't just interview anybody, right? Like other guys in our space. Not that I'm no, I'm not speaking bad. 36:47 This is your show your production. You're on the show. Yeah, but 36:50 it's more like I don't interview some guy that has the duplex. I have nothing against Joe with his duplex. I have nothing against them. Right. It's okay. But I want to talk to the folks that have done a lot of deals, big deals, and then to help other people on the come up with they need to do use leveraging their experience, right? Because I don't know what you can learn from someone who hasn't done that many transactions versus someone who's done a lot of transactions. I've done a lot of transactions, right? I've done a lot and I have a lot to offer somebody, right? That's just me, you know, and I want to try to deliver the maximum amount of value I possibly can to anybody listening. That's really what it comes down to, you know, and that's why I do it that way, you know, so yeah, man. I mean, that's, that's a big deal. For me. I try to deliver value first and everything I do. 37:44 The show where people find the show, what's it called? 37:46 Oh, yeah, bulletproof cash flow. That's why it's called bulletproof cash flow. Like I said, we're in anywhere that you listen to podcasts. We're there. You know, we're on Amazon. We're on iTunes. We're everywhere, right? YouTube. Of course. If you want to watch a video, that's great, too. Where else do we do it on Apple Music Google. Yeah, but if you just Google or if you just go to bulletproof cash flow.com You get all the links. You can see everything there. You can also get access to our or we have we have two masterminds, one that helps people get into small multifamily, the multifamily accelerator and when it helps people get into big multifamily. You want to syndicate your own deals. That's Yes, multifamily accelerator. Multifamily advantage is for small deals. Right. So that's those two things we help people get into the multifamily game if they really want to do it the right way. 38:36 Well, this is this is podcast as a podcast host. What has been your two favorite guests slash episodes 38:49 I had one guy named Ben Hardy on Ben Hardy. He was he was a New York Times best selling author a personality isn't permanent, as was called right. And we talked about the personality of well changing your personality. So he could be a successful entrepreneur. Right? So he's the guy the guy is famous. You should check that one out. It's really really good. There's one I guessed it on, which I thought was hilarious. wrestling with real estate, as well, it's called right and it doesn't even have that many views. Honestly, it's not like the show itself did it's only because it's the podcast guys. He's really really cool dude. Really, really nice guy. He's been at it for a while but he's doing his own thing like he's he's doing this is a part two. Yeah. That's what I guess it odd and I thought that it was frickin hilarious. I thought it was a great show. Right? So a lot of a lot of information there. So So the first one was as a host, the second one was as the guest. So that was really good if you if you look up wrestling, wrestling with real estate, I think is what is the name of the show? I forget his name now. I forget I forget the host name. Oh my god, I see his face. I forget his name. 40:18 No, that's good. It's good. Because like, I think there's us as us as guests and hosts, we always have a lot of underrated episodes that you like, Man, that was a good episode. And then note, like, it doesn't blow up or whatever. It might be an older episode that you released two years ago, three years ago, and it's just like, it kind of gets forgotten about but like, Man, that was a good episode. 40:35 Well, I'll tell you about that. There was another one with Ryan Neris na R Us and he does he talks about mobile home parks. Okay. And I mean, it's it was a great interview. And Ryan back then was just starting he was just he was on the come up when it came to that type of asset class. Right. And back then on bulletproof cash flow, we were exploring not just multifamily. We're looking at home but at the mobile home parks. We look at land to some degree we would look at what else like other other types of assets aside from multifamily is mostly multifamily, right. Like it was today, I suppose. But that That episode was it was not only a good episode, it was very, very popular. Very popular. So if anybody wants to have a mobile home parks, check out just look up a bulletproof cashflow, mobile home parks, you'll find it you'll find that episode did quite well. 41:38 What is a quote that is yours or somebody else's that you resonate with? 41:44 I'll tell you what, it's actually my quote, without integrity, you have nothing. You know, so it's a you see it in action, especially these days, you know, it's a times are tough for everyone, especially for syndicators. And he'll know the true measure of a syndicator when you send them an email. And if they send you a reply, whether it's good news or bad news, at least they've replied, there's been they're very transparent, but what's going on? Right? Then you have the other guys that just hide underneath their desk. Right? So it's, I mean, yeah, right now, times are tough, right? So it takes integrity to face up what you have to do and integrity, also to make it through the hard times. Because that's where we are right now. You know, hard times for everybody. Right? I'm very fortunate that we bought our deals, right? We bought the deals at a very reasonable cost basis. We didn't get stupid with our deals, we don't do stupid deals, right? We just don't do those. And so I'm very, very lucky that we built good solid relationships with not only our investors, but also with the brokers with the lenders, everybody else involved too. And all the stakeholders. So yeah, it's integrity. That's what that's what people are buying into. They're buying into your integrity. 43:05 That's a tweet. Where can people find you online? I got bulletproof cash flow.com. Online, and I really 43:15 am I'm on LinkedIn, you know, just under my name. Augustino Pentas. I'm on I'm on Twitter, too. I'm not as active as I want to be on Twitter, right. But it's mostly just me just sharing knowledge sharing quotes, things I've heard, you know, Facebook, of course, but I'd say like LinkedIn and Facebook are the two best places to get me or IG Of course, you know, Instagram. Yeah, 43:37 I think Yeah. Well, I appreciate your time. Thanks for coming on the show. I think definitely covered a lot of different things and hopefully, hopefully some people get some value out. They definitely will get some value out that they will not that we hope they will 43:48 but geez I hope so. 43:52 So thanks for thanks for coming on the back. Alright, for everybody here. Go like share, subscribe, you know what to do. We'll see in the next episode. Thanks for tuning in, guys. Have a good day. Bye