رونوشت کامل Building Wealth With Other People’s Money: Justin Brennan on Multifamily Real Estate

00:01:33.177 I grew up in it a bit. 39 00:01:33.277 --> 00:01:38.840 My grandmother started it for our family and she got into apartments when she was here in San Diego for years. 40 00:01:38.880 --> 00:01:46.404 And God bless her soul until 91 years of age, she was driving around in her little S10 Chevy truck, collecting rent from all our tenants in San Diego. 41 00:01:46.604 --> 00:01:49.265 And then she kind of passed a little bit of that along to my dad. 42 00:01:49.405 --> 00:01:51.786 My dad was that, I'd say that transitional character. 43 00:01:52.087 --> 00:01:54.988 Ed Milet talks about in his book, One More, about that person that 44 00:01:55.088 --> 00:01:57.889 Took the family from zero to hero, completely self-made. 45 00:01:58.070 --> 00:01:59.410 Grew up in a really bad environment. 46 00:01:59.550 --> 00:02:00.911 His dad died when he was three. 47 00:02:01.091 --> 00:02:06.574 He got the crap beat out of him by his stepdad, went to Vietnam, came back, and he just saw some crazy stuff in his life. 48 00:02:06.754 --> 00:02:12.277 But he was that guy that said, hey, I'm gonna start building some homes and doing some things, and I learned construction and development from him. 49 00:02:12.457 --> 00:02:13.578 And he took it zero to hero. 50 00:02:13.838 --> 00:02:21.362 Basically, he started building stuff all on the West Coast of the United States, big construction projects, multifamily, condos, townhomes, single family. 51 00:02:21.382 --> 00:02:23.003 He went through four market cycles. 52 00:02:23.303 --> 00:02:25.944 Made it through all of them except the financial crisis of 2008. 53 00:02:25.964 --> 00:02:27.064 And that took him down. 54 00:02:27.304 --> 00:02:29.564 And he had a massive bankruptcy in 2008. 55 00:02:29.584 --> 00:02:30.865 It imploded everything. 56 00:02:30.885 --> 00:02:31.885 And I watched that happen. 57 00:02:31.985 --> 00:02:33.845 I'd always kind of learned about real estate. 58 00:02:33.945 --> 00:02:36.806 My dad always taught us the value of hard work, value of a dollar. 59 00:02:37.186 --> 00:02:41.147 And he'd take us on his job sites and make us dig ditches simply for the purpose of digging the ditch. 60 00:02:41.367 --> 00:02:43.527 And learning how to grind it out and earn a little bit of money. 61 00:02:43.707 --> 00:02:47.728 But what I did learn watching a lot of that stuff got me into the multifamily apartment space. 62 00:02:47.828 --> 00:02:48.208 Because... 63 00:02:48.368 --> 00:02:54.990 I didn't want to go through kind of the mimicking the cycles of real estate markets, which he did, because he would build and sell, build and sell, build and sell. 64 00:02:55.030 --> 00:02:56.791 And he would just ride the roller coaster. 65 00:02:56.871 --> 00:02:59.552 I wanted more consistency, which is what apartments brought. 66 00:02:59.752 --> 00:03:03.733 I got into more safer asset class, and that is apartment rentals. 67 00:03:03.933 --> 00:03:04.934 And that's kind of what started it. 68 00:03:04.974 --> 00:03:09.155 You buy large apartments, multifamily, and then manage the rentals. 69 00:03:09.175 --> 00:03:10.415 Am I hearing that right? 70 00:03:10.475 --> 00:03:12.016 Yeah, but we started with one condo. 71 00:03:12.176 --> 00:03:16.438 I mean, literally, in the midst of the financial crisis in 2010, we bought a $100,000 condo. 72 00:03:16.618 --> 00:03:19.099 And then we turned into a duplex and a fourplex. 73 00:03:19.319 --> 00:03:22.120 But then we got to a point where we said, we want to grow. 74 00:03:22.220 --> 00:03:23.721 We were trying to do it all with our own money. 75 00:03:23.781 --> 00:03:25.181 And that's just the biggest mistake ever. 76 00:03:25.221 --> 00:03:27.582 And I try and tell people this because we don't know any better. 77 00:03:27.602 --> 00:03:31.244 We didn't understand this game of OPM, other people's money and how to scale money. 78 00:03:31.264 --> 00:03:31.864 I had to learn it. 79 00:03:31.964 --> 00:03:32.964 It was a learned skill set. 80 00:03:33.104 --> 00:03:39.127 And it wasn't until about 2018 after we had about 20 units that we had built on our own and all our capital was stuck in them. 81 00:03:39.247 --> 00:03:41.768 And we said, well, we want to grow much bigger, but we can't because 82 00:03:41.828 --> 00:03:42.908 we ran out of our own money. 83 00:03:43.188 --> 00:03:49.490 I started looking at this game called syndication and then OPM using our money with some of other people's money, OPM. 84 00:03:49.510 --> 00:03:52.831 And how can we go buy apartments together and bigger ones and scale our money? 85 00:03:52.971 --> 00:03:59.092 And then from literally those 20 units and about $3 million in assets in 2018, it took us eight years to get that. 86 00:03:59.272 --> 00:04:06.854 Within three years, by 2021, we had over a thousand units and almost $200 million in assets because we learned that skill set of how to scale money. 87 00:04:07.034 --> 00:04:07.494 Same money. 88 00:04:07.674 --> 00:04:09.235 We just learned how to scale it with other people. 89 00:04:09.415 --> 00:04:10.215 And that took us off. 90 00:04:10.395 --> 00:04:15.582 I mean, throw us off board here, but when I hear OPM, as long as OPM and not OPP, I'm good. 91 00:04:15.662 --> 00:04:16.423 I'm just saying. 92 00:04:18.897 --> 00:04:23.940 My feeble mind understanding this, and I like to be the voice of the audience here, making sure. 93 00:04:24.000 --> 00:04:27.202 When I think of other businesses, venture capital, taking on money. 94 00:04:27.342 --> 00:04:29.463 Hey, I've got a business idea and I want to take on money. 95 00:04:29.563 --> 00:04:32.585 Is it the same thing, but just name something different in real estate? 96 00:04:32.705 --> 00:04:37.768 In a way, because I try and give people the analogy of how this money game works. 97 00:04:37.788 --> 00:04:45.773 Because it wasn't until a few years ago that I learned this big problem that people have where they either have a job, they're working

for someone. 98 00:04:46.093 --> 00:04:54.519 or they're self-employed, which simply means if you're a solopreneur, it's not that you have a job anymore, now you simply own a job because you're a solopreneur. 99 00:04:54.759 --> 00:05:03.184 And the whole name of the game, this is a Robert Kiyosaki thing, the whole name of the game is to jump from that into either a business owner or into an investor role. 100 00:05:03.244 --> 00:05:07.367 The whole cash flow quadrants that Rich Dad, Poor Dad, Robert Kiyosaki talks about. 101 00:05:07.527 --> 00:05:11.388 But it's just understanding the game of money and how it's not about what you make. 102 00:05:11.448 --> 00:05:12.348 It's about what you keep. 103 00:05:12.548 --> 00:05:23.731 And so I'd say the biggest problem I found just when talking with people, whether it's high income earners, people earning 50, 60, 80 grand a year, all the way up to multi millions of dollars a year is how to avoid taxes. 104 00:05:23.931 --> 00:05:27.152 Hands down, that was the biggest problem I kept hearing from people. 105 00:05:27.172 --> 00:05:28.932 It's like, oh, my gosh, I'm making all this money. 106 00:05:28.972 --> 00:05:31.293 But holy cow, now I got to pay all these taxes. 107 00:05:31.473 --> 00:05:33.034 Well, there's gotta be a way around this. 108 00:05:33.094 --> 00:05:38.519 There's a reason why the IRS puts in place things that people can avoid taxes through legal loopholes. 109 00:05:38.779 --> 00:05:44.003 And multifamily apartments is the biggest and best way to do it, through what's called bonus depreciation. 110 00:05:44.204 --> 00:05:46.606 And you can literally wipe out your taxes for the rest of your life. 111 00:05:46.846 --> 00:05:49.028 And it's the craziest thing that people don't understand. 112 00:05:56.285 --> 00:06:03.509 That sounds like better than that jelly of the month club bonus that Carter and it honestly goes back to the founding of capitalism. 113 00:06:03.629 --> 00:06:07.150 When you go look at the definition of capitalism, the main part of it is movement of money. 114 00:06:07.250 --> 00:06:13.233 And so then I looked into that and I tried to understand like, why is the IRS giving these massive tax breaks to people who move more money? 115 00:06:13.373 --> 00:06:15.915 When you look at it, if you move more money, you get more tax breaks. 116 00:06:15.955 --> 00:06:16.555 It's that simple. 117 00:06:16.715 --> 00:06:22.620 And the only people that move enough money are business owners or investors, which is why business owners and investors get the most amount of tax breaks. 118 00:06:22.720 --> 00:06:25.263 And if you're a W-2 employee, you don't because you don't move enough money. 119 00:06:25.363 --> 00:06:31.168 And the reason why the IRS wants that money moved is because when you move that money, you create jobs, opportunities, you take risk. 120 00:06:31.368 --> 00:06:33.570 And when you do that, you create capitalism, movement of money. 121 00:06:33.730 --> 00:06:35.232 And that's the whole science behind it. 122 00:06:35.352 --> 00:06:42.038 And if they know if you're moving more money, you're creating more opportunity, which means capitalism grows and moves and they generate more tax revenue because of it. 123 00:06:42.098 --> 00:06:53.470 That's why they give the people that move the most money the tax breaks up front, so you do more of that, which is why multifamily, apartments, commercial real estate in general is one of the biggest tax write-offs ever, and it continues to be. 124 00:06:53.490 --> 00:06:56.773 Something really interesting you're talking about there, Justin, is you don't learn that in the textbook. 125 00:06:56.954 --> 00:07:02.820 The way you just described capitalism and all that, like I remember my business classes at Clemson, which I barely paid attention to, 126 00:07:03.100 --> 00:07:05.521 A test guy and a D pay attention guy. 127 00:07:05.941 --> 00:07:07.022 Uh, teachers didn't like me. 128 00:07:07.102 --> 00:07:07.882 They don't teach you that. 129 00:07:08.022 --> 00:07:14.685 And that's one of the things like as an entrepreneur now learning, I'll have employees or teammates over time, they'll be like, how'd you do that deal? 130 00:07:14.745 --> 00:07:15.986 We didn't make any money on that. 131 00:07:16.006 --> 00:07:18.927 I was like, no, but I kept $3 million moving in the business. 132 00:07:19.147 --> 00:07:20.628 Money coming in, money going out. 133 00:07:20.928 --> 00:07:24.390 I make money with money that's sitting there in the short term. 134 00:07:24.730 --> 00:07:31.192 using a little bit of other people's money at time that I might not ultimately make profit on the transaction with which brought that money in. 135 00:07:31.212 --> 00:07:34.794 But I'm making it elsewhere because there's money moving and it's a little different than what you're describing. 136 00:07:34.814 --> 00:07:40.416 But it's similar concept, which is totally the movement of money through a business is the lifeblood of it. 137 00:07:40.436 --> 00:07:46.438 Same thing with what you're describing on the real estate and taxes side, of course, because that's the way it's supposed to be. 138 00:07:46.718 --> 00:07:50.401 I've been preaching this for about a year now with the interest rates thing. 139 00:07:50.542 --> 00:07:51.683 And I understand inflation. 140 00:07:51.903 --> 00:07:53.204 We need more money moving. 141 00:07:53.324 --> 00:07:57.508 If there's any problem right now, there's not enough money moving because the interest rates have been high. 142 00:07:57.688 --> 00:07:58.709 It's kept on the sidelines. 143 00:07:58.869 --> 00:08:04.635 And, you know, refis and other things that would happen that bring money in, it just makes the whole thing work. 144 00:08:04.755 --> 00:08:07.057 And real estate and real interest rates are tied to that. 145 00:08:07.137 --> 00:08:07.497 I get it. 146 00:08:07.517 --> 00:08:10.280 We can't have 10% inflation forever and ever and ever. 147

00:08:10.700 --> 00:08:15.664 You don't want the other end of that, which is stagnation of money moving much longer. 148 00:08:15.864 --> 00:08:16.344 100%. 149 00:08:16.424 --> 00:08:30.294 It's not just in real estate, but if you just take one real estate transaction, you take one 20-unit apartment building that transacts, there's over 60 different industries, not people, industries that make money from one single transaction of an apartment building. 150 00:08:30.314 --> 00:08:36.838 If you think about that, some money moving through those different industries, which then jobs, all that stuff happens, which means tax revenue. 151 00:08:37.118 --> 00:08:41.161 All that stuff happens as a result of one simple transaction in a commercial real estate building. 152 00:08:41.221 --> 00:08:46.344 So why do you think the IRS then gives all these tax breaks to the person that starts that transaction? 153 00:08:46.504 --> 00:08:50.627 Cause they know that, Hey, you'll start it, but we're going to get all the revenue from that flow. 154 00:08:50.787 --> 00:08:51.467 That's why they do it. 155 00:08:51.607 --> 00:08:52.568 It's not because they love us. 156 00:08:53.108 --> 00:08:53.568 Trust me. 157 00:08:53.588 --> 00:08:55.189 It's not because they're your friend. 158 00:08:55.390 --> 00:08:58.612 They just understand more movement of money creates more revenue that comes into them. 159 00:08:58.792 --> 00:08:59.152 That's it. 160 00:08:59.292 --> 00:09:01.293 How are we helping people every day, Justin? 161 00:09:01.353 --> 00:09:07.756 Now we're using OPM and some of JBM to make more M. I got that part down. 162 00:09:07.816 --> 00:09:08.557 What else are we doing? 163 00:09:08.677 --> 00:09:13.599 Somebody asked me this the other day, and I wrote this down earlier this year because I don't know if you've ever heard this term, Ryan. 164 00:09:13.719 --> 00:09:15.520 It was Patrick Bet David that came up with it. 165 00:09:15.540 --> 00:09:18.522 He said, there's seven mountains that move people and inspire a nation. 166 00:09:19.002 --> 00:09:25.245 And you have to have the business, which helps drive revenue and brings in money for you and your family and things that you're doing. 167 00:09:25.285 --> 00:09:26.506 But once you're making money, 168 00:09:26.706 --> 00:09:27.727 You can lose motivation. 169 00:09:27.987 --> 00:09:35.776 And so the bigger purpose I would say in life is how are you taking that money or what you're doing in helping others, giving back, leaving a legacy. 170 00:09:35.896 --> 00:09:42.042 And so for me, my big three dreams, to be honest with you, is we heavily support the Tunnels to Towers organization. 171 00:09:42.082 --> 00:09:48.209 They basically pay off mortgages of spouses left behind with their kids from first responders or soldiers who die in the line of duty. 172 00:09:48.329 --> 00:09:51.892 And they give them a free and clear house because their spouse died, who was the provider. 173 00:09:51.912 --> 00:09:52.533 They don't have it. 174 00:09:52.553 --> 00:09:56.717 They're scared to death and have a safe roof over their head is probably one of the best things that can happen. 175 00:09:56.737 --> 00:09:57.478 So they give them that. 176 00:09:57.618 --> 00:09:58.699 So we're a huge proponent. 177 00:09:58.719 --> 00:10:00.180 So I want to pay off 10,000 mortgages. 178 00:10:00.300 --> 00:10:00.961 That's number one. 179 00:10:01.141 --> 00:10:03.203 Number two is the Seal Future Foundation. 180 00:10:03.463 --> 00:10:04.824 My family's big in the military. 181 00:10:04.864 --> 00:10:05.805 My dad was Army. 182 00:10:06.065 --> 00:10:09.929 My grandfather is Navy commander of the submarines before he passed. 183 00:10:10.069 --> 00:10:11.971 Even my business partner now, former Marine. 184 00:10:12.211 --> 00:10:22.120 So we give heavily to the SEAL Future Foundation, which helps transition team guys, SEAL guys, from kind of that SEAL life of being a hero and being that camaraderie into the civilian life, which they just don't understand. 185 00:10:22.220 --> 00:10:25.203 Imagine being the most elite elite, and then all of a sudden, that's over. 186 00:10:25.363 --> 00:10:29.188 And then you have to go into the civilian life where people are complaining about petty crap. 187 00:10:29.328 --> 00:10:30.750 And you're sitting there like going, bro. 188 00:10:30.950 --> 00:10:32.452 I mean, I was just in Afghanistan. 189 00:10:32.592 --> 00:10:33.494 You can imagine, right? 190 00:10:33.534 --> 00:10:37.439 And so they don't know how to do this mentally, financially, physically. 191 00:10:37.599 --> 00:10:42.105 And so it helps them transition so they don't kill themselves because there's enormous suicide rate amongst Navy SEALs. 192 00:10:42.525 --> 00:10:43.045 unbelievable. 193 00:10:43.245 --> 00:10:44.005 Most people don't know that. 194 00:10:44.145 --> 00:10:46.106 And then the last big one is disadvantaged kids. 195 00:10:46.266 --> 00:10:51.467 I was fortunate enough to grow up with a mom and a dad in a middle class, but then became upper class environment. 196 00:10:51.647 --> 00:10:54.587 So I was blessed, but most people don't have that starting point, man. 197 00:10:54.727 --> 00:11:05.169 And so if you can go in and give a kid who maybe had a really rough beginning, a role model, belief system, that they can go make things happen, then it's incredible to watch how that zero to hero journey can happen for them. 198 00:11:05.269 --> 00:11:06.349 And so we give a lot to that. 199 00:11:06.389 --> 00:11:10.270 So those are my big three drivers, my family, my kids and all that. 200 00:11:10.510 --> 00:11:16.973 Any money and all the money that we're making and doing and the podcast that we created Abundance to Give a few years ago behind like Mr. 201 00:11:16.993 --> 00:11:18.193 Beast, the concept, Mr. 202 00:11:18.213 --> 00:11:18.514 Beast. 203 00:11:18.674 --> 00:11:21.655 It's all positioned to go help those three main causes. 204

00:11:21.835 --> 00:11:22.715 I love those causes. 205 00:11:22.855 --> 00:11:27.057 I was hoping you would go there is kind of why I went there and supporting our troops. 206 00:11:27.177 --> 00:11:28.558 People forget freedom is not free. 207 00:11:28.798 --> 00:11:39.042 Anything that supports the men and women that have paid the ultimate sacrifice and the fact that they would ever have to even think twice about a mortgage or suffering or the mental aspect for those that come back. 208 00:11:39.162 --> 00:11:42.183 I really salute you, what you're doing on supporting all of those. 209 00:11:42.303 --> 00:11:44.484 I have a father and family that was military. 210 00:11:44.504 --> 00:11:49.486 I was not, but my dad was in the Air Force and have a lot of military in the family. 211 00:11:49.526 --> 00:11:51.627 Definitely support you in supporting that. 212 00:11:52.888 --> 00:11:54.909 This episode is brought to you by HighLevel. 213 00:11:55.210 --> 00:11:58.872 Make sure to check out the link in the show notes to sign up for your 14-day free trial. 214 00:11:59.193 --> 00:12:02.715 If you run a business, you know leads rarely arrive when it's convenient. 215 00:12:02.995 --> 00:12:05.377 A call comes in while your team is helping another customer. 216 00:12:05.697 --> 00:12:13.643 If someone reaches out, but the follow-up gets delayed, an invoice sits unsent, or a promising lead gets stuck in the wrong stage of your pipeline. 217 00:12:13.923 --> 00:12:19.126 I've built enough businesses to know that growth has a way of exposing every gap in your systems. 218 00:12:19.406 --> 00:12:23.889 That's why High Levels Voice AI and managed AI agents caught my attention. 219 00:12:24.209 --> 00:12:33.154 High Levels Voice AI can answer incoming calls, qualify leads using information from your website or uploaded documents, and even book or reschedule appointments. 220 00:12:33.395 --> 00:12:39.078 When your team is busy, Voice AI can keep that conversation moving instead of letting a potential customer slip away. 221 00:12:39.418 --> 00:12:44.981 Then high levels managed AI agents can handle multi-step actions across your CRM. 222 00:12:45.262 --> 00:12:52.086 They can update pipeline stages, send invoices, and execute follow-up sequences across SMS, email, and social. 223 00:12:52.386 --> 00:12:58.770 That means fewer repetitive tasks for your team and a more consistent process for every lead coming into the business. 224 00:12:58.930 --> 00:13:01.833 For me, the real value of AI isn't adding another complicated tool. 225 00:13:02.033 --> 00:13:09.782 It's using technology to handle the work that slows your team down so your people can focus on building relationships, serving customers, and growing the business. 226 00:13:10.142 --> 00:13:17.090 If you're ready to create better systems and get more from every opportunity, use the link in the show notes to sign up for your 14-day free trial. 227 00:13:17.783 --> 00:13:20.464 Brennan, what do you tell

people from a real estate perspective? 228 00:13:20.524 --> 00:13:24.126 I know you guys are coaching, teaching people how to do what you guys do. 229 00:13:24.166 --> 00:13:28.828 Where do you feel like the biggest opportunities are for people out there listening that would want to get into something like this? 230 00:13:28.948 --> 00:13:30.288 A lot of people get stuck. 231 00:13:30.368 --> 00:13:31.969 I've learned it's all in the mindset. 232 00:13:32.049 --> 00:13:33.590 They definitely get stuck with that. 233 00:13:33.730 --> 00:13:41.873 I hear people, if they're in a W-2 job and maybe they're making decent money, 60, 80, 100 grand a year, whatever it is, and they want to take some of that money and put it into real estate. 234 00:13:41.933 --> 00:13:43.854 Maybe they want to start with single family or 235 00:13:44.234 --> 00:13:48.257 some rental short-term stuff, and then maybe get into some flips or wholesaling properties. 236 00:13:48.397 --> 00:13:54.361 And those are all great asset classes, but those also don't give you that long-term generational wealth that people... 237 00:13:54.441 --> 00:13:55.241 I hear it all the time. 238 00:13:55.261 --> 00:13:56.462 I want financial freedom. 239 00:13:56.582 --> 00:13:57.883 I want more passive income. 240 00:13:58.003 --> 00:13:59.304 I want generational wealth. 241 00:13:59.584 --> 00:14:09.150 And the only real ways you get even close to that, because there's nothing truly passive, is through whether it's an apartment building or some other commercial asset. 242 00:14:09.170 --> 00:14:10.391 We own mobile home parks. 243 00:14:10.671 --> 00:14:14.913 Anything that has a rental recurring money thing to it is going to be great. 244 00:14:14.973 --> 00:14:19.775 Heck, great businesses do this, where you can actually create a great business that you're not having to be hands-on every day. 245 00:14:19.835 --> 00:14:21.756 It just depends on which avenue you love most. 246 00:14:21.796 --> 00:14:23.477 For me, real estate's my lane, man. 247 00:14:23.617 --> 00:14:27.178 I feel like I came out of my mom's womb learning it from my family. 248 00:14:27.358 --> 00:14:28.519 Because of that, of course, I'm in it. 249 00:14:28.619 --> 00:14:29.739 But not everybody starts there. 250 00:14:29.879 --> 00:14:33.741 We have so many people, doctors, attorneys, just FedEx drivers. 251 00:14:33.881 --> 00:14:38.483 It's unbelievable the amount of people that want to take some of the money that they've earned and get out of the W-tube. 252 00:14:38.543 --> 00:14:44.849 They're in a position where like, hey, in two, three years, man, I want to transition out of this W-2 working for the man and be able to have enough income doing real estate. 253 00:14:44.889 --> 00:14:45.850 It's been a dream of mine. 254 00:14:45.950 --> 00:14:47.051 How do I make this transition? 255 00:14:47.191 --> 00:14:48.192 I hear that all the time. 256 00:14:48.292 --> 00:14:51.375 That's actually why we even created the community we did. 257 00:14:51.455 --> 00:14:53.317 It wasn't sell mentorships and courses. 258 00:14:53.397 --> 00:14:54.097 Anybody can do that. 259 00:14:54.117 --> 00:14:55.819 There's plenty of gurus out there spitting game. 260 00:14:55.879 --> 00:14:58.842 It was really how can we create a community of well-trained investors? 261 00:14:59.002 --> 00:15:05.264 around the United States that are doing deals together, collaborating on money, finding deals, putting them together, co-partnering on them. 262 00:15:05.424 --> 00:15:10.006 Because if everybody's winning and everybody's doing more deals and opportunities, everybody's getting rich and wealthy, well, good. 263 00:15:10.066 --> 00:15:14.007 Now you can actually take that money and wealth and go give back after causes you care about. 264 00:15:14.107 --> 00:15:14.887 Maybe it's your church. 265 00:15:15.047 --> 00:15:16.028 Maybe it's your family. 266 00:15:16.048 --> 00:15:16.668 Maybe it's your kids. 267 00:15:16.688 --> 00:15:17.528 Maybe it's traveling. 268 00:15:17.708 --> 00:15:19.749 Other things that you love that are philanthropic to you. 269 00:15:19.969 --> 00:15:21.310 Money is a great resource for that. 270 00:15:21.410 --> 00:15:24.571 Without the money, it makes it hard to go chase other passions you have. 271 00:15:24.691 --> 00:15:24.911 100%. 272 00:15:25.651 --> 00:15:28.194 Very few things have been spoken that are more true. 273 00:15:28.214 --> 00:15:30.737 Some people like to paint money as bad or something. 274 00:15:31.138 --> 00:15:33.580 It enables your ability to do good. 275 00:15:33.641 --> 00:15:35.703 Let's not paint it with too broad of a brush. 276 00:15:35.863 --> 00:15:36.164 Yeah. 277 00:15:36.304 --> 00:15:37.665 I ask people, what does money mean to you? 278 00:15:37.685 --> 00:15:41.510 And they'll throw out freedom or tool or other kind of words. 279 00:15:41.570 --> 00:15:43.933 And in my mind, when I think of money, I think of choices. 280 00:15:44.233 --> 00:15:47.736 If we both have $1, then we technically have the same choices. 281 00:15:47.916 --> 00:15:51.358 But if I have a million dollars and you have $1, I can do everything you can do. 282 00:15:51.438 --> 00:15:52.779 But then I have a million more choices. 283 00:15:52.799 --> 00:15:54.981 I mean, that's how my mind works around the money game. 284 00:15:55.181 --> 00:15:56.922 And so I see money simply as choices. 285 00:15:57.023 --> 00:15:58.043 I can go help more people. 286 00:15:58.263 --> 00:15:59.124 I can do more things. 287 00:15:59.164 --> 00:15:59.845 I can give back. 288 00:16:00.025 --> 00:16:04.468 Obviously, spend time with family and travel experiences, all those things that are near and dear to all of us. 289 00:16:04.628 --> 00:16:05.449 Baseball cards. 290 00:16:05.669 --> 00:16:10.896 You know, baseball cards, collectibles, you know, whatever, shoes, you know. 291 00:16:11.116 --> 00:16:14.020 I mean, yeah, for me, I love kiteboarding. 292 00:16:14.040 -->

00:16:17.544 You know, I'm a water sports guy, weightboarding, kiteboarding. 293 00:16:17.564 --> 00:16:18.886 I'm in San Diego, right? 294 00:16:18.926 --> 00:16:22.050 I don't surf, by the way, but I feel like people, they're like, why don't you surf? 295 00:16:22.070 --> 00:16:24.233 I'm like, well, I had a shark problem when I was young, so. 296 00:16:24.413 --> 00:16:26.935 I ask this sort of for myself. 297 00:16:27.135 --> 00:16:31.417 Maybe he doesn't have a ton of capital, but he's a go-getter and he gets information. 298 00:16:31.717 --> 00:16:33.839 How do you spot these deals? 299 00:16:33.959 --> 00:16:36.580 What's a good deal to spot for something like this? 300 00:16:36.780 --> 00:16:40.162 I totally get getting in the circles, getting around people, that part. 301 00:16:40.242 --> 00:16:48.487 But is there other things that wouldn't be as obvious as spotting these kind of deals that they might could bring to someone like yourself or other groups? 302 00:16:48.707 --> 00:16:49.528 I think you know what I'm asking. 303 00:16:49.648 --> 00:16:50.468 Yeah, I do. 304 00:16:50.569 --> 00:16:55.351 What people don't fully grasp is that you don't need a lot of capital to start this. 305 00:16:55.671 --> 00:16:56.392 What does that mean? 306 00:16:56.432 --> 00:17:02.735 I said, well, you have to understand in real estate, you're bringing one of two resources to the table and you choose which one you got. 307 00:17:02.876 --> 00:17:05.317 You either have what I call the check equity, which is the cash. 308 00:17:05.717 --> 00:17:09.761 Or you have what's called the sweat equity, which is the knowledge, the skill set, the ability to go execute. 309 00:17:09.881 --> 00:17:11.063 Maybe you can find good deals. 310 00:17:11.083 --> 00:17:12.064 Maybe you're a great deal finder. 311 00:17:12.184 --> 00:17:14.186 Maybe you can analyze them, make sure they're a good deal. 312 00:17:14.386 --> 00:17:15.567 Maybe you can bring them to the table. 313 00:17:15.587 --> 00:17:17.689 You understand how to structure things and put them together. 314 00:17:17.709 --> 00:17:24.396 And because of that sweat equity, that knowledge and skill set, you become extremely valuable to people with money. 315 00:17:24.476 --> 00:17:25.377 Just to prove this point... 316 00:17:25.457 --> 00:17:27.619 Our first deal, I had $0 in it. 317 00:17:27.699 --> 00:17:31.201 That $100,000 condo, we brought in $25,000 down payment. 318 00:17:31.221 --> 00:17:32.342 This was in the financial crisis. 319 00:17:32.362 --> 00:17:33.803 I was getting my ass handed to me. 320 00:17:33.883 --> 00:17:36.725 I was a real estate agent in the financial crisis. 321 00:17:36.865 --> 00:17:38.486 It was not fun, but I went through it. 322 00:17:38.667 --> 00:17:39.367 But I didn't have any money. 323 00:17:39.387 --> 00:17:40.448 I just knew we had to buy property. 324 00:17:40.608 --> 00:17:41.909 And I had a knowledge and a skill set. 325 00:17:41.949 --> 00:17:42.890 I could go find deals. 326 00:17:42.910 --> 00:17:43.650 I could analyze them. 327 00:17:43.670 --> 00:17:44.451 I could put them together. 328 00:17:44.531 --> 00:17:46.232 I could go structure them and do all that. 329 00:17:46.252 --> 00:17:47.413 I could do the property management. 330 00:17:47.433 --> 00:17:47.993 I knew how to run. 331 00:17:48.133 --> 00:17:48.994 I'd learn this stuff. 332 00:17:49.014 --> 00:17:50.355 The skill set of sweat equity. 333 00:17:50.515 --> 00:17:56.238 I was at a conference one time and the guy came out and he was asking people, hey, who here in the audience wants to own rental income property? 334 00:17:56.258 --> 00:17:57.799 And everybody's like screaming, yeah. 335 00:17:57.859 --> 00:18:00.340 And then he's like, well, who here financially right now can afford it? 336 00:18:00.440 --> 00:18:00.980 It's 2008. 337 00:18:01.040 --> 00:18:02.921 And like 99% of the hands go down. 338 00:18:02.941 --> 00:18:04.442 And he says, here's the secret you're missing. 339 00:18:04.582 --> 00:18:06.983 He says, you don't need to have a single dime to own rental income property. 340 00:18:07.003 --> 00:18:10.225 He says, you just need to have a friend who has the money to own rental income property. 341 00:18:10.325 --> 00:18:17.327 He says, if you can go find great deals, put them together, structure them, manage them, run the show, you become extremely valuable to someone with money. 342 00:18:17.507 --> 00:18:22.789 So the light bulb went off for me and I said, who do I know that's not getting their ass handed to them right now that I could go talk to? 343 00:18:22.829 --> 00:18:24.229 Because I have the ability to go find deals. 344 00:18:24.389 --> 00:18:26.430 And then it was my buddy, who's my current business partner. 345 00:18:26.530 --> 00:18:30.571 And I went to him and I said, Chris, I don't know how we're going to do this, dude, but we need to buy property now. 346 00:18:30.771 --> 00:18:31.792 I said, you know and I know. 347 00:18:31.832 --> 00:18:32.652 We're like in a dump. 348 00:18:32.672 --> 00:18:33.332 We need to go get it. 349 00:18:33.432 --> 00:18:35.693 You buy when there's blood in the street, even if it's your blood. 350 00:18:35.913 --> 00:18:36.774 Like the name of the game. 351 00:18:36.834 --> 00:18:37.234 And we did. 352 00:18:37.434 --> 00:18:39.455 And it was our first condo, man, $100,000. 353 00:18:39.596 --> 00:18:41.077 We put $25,000 down. 354 00:18:41.117 --> 00:18:42.197 He was the $25,000. 355 00:18:42.237 --> 00:18:43.358 He signed on the loan. 356 00:18:43.498 --> 00:18:46.080 I was the one that found it, ran it, run it, put it together. 357 00:18:46.180 --> 00:18:48.041 We weren't making a ton of money, but it worked. 358 00:18:48.242 --> 00:18:53.225 And then from there, we took it and we bought a duplex and then a triplex and a fourplex, all with our own money, like I talked about. 359 00:18:53.325 --> 00:18:57.246 But I had very little physical check equity in it in the beginning. 360

00:18:57.406 --> 00:18:59.027 Now we do both of that. 361 00:18:59.107 --> 00:19:00.327 Now I have a skill set too. 362 00:19:00.347 --> 00:19:01.267 Do you see where I'm going with it? 363 00:19:01.307 --> 00:19:05.188 So if you're sitting out there, maybe you only have 10, 20, 30 grand to invest in real estate. 364 00:19:05.208 --> 00:19:05.628 And that's it. 365 00:19:05.768 --> 00:19:08.009 Well, take some of that capital because you can do this. 366 00:19:08.229 --> 00:19:09.189 And then that's what equity. 367 00:19:09.209 --> 00:19:11.110 You got to learn how to do this. 368 00:19:11.450 --> 00:19:14.331 Then become extremely valuable because now your skill sets up here. 369 00:19:14.431 --> 00:19:19.472 You bring a lot to the table from knowledge that you may have a little bit of capital and then a huge pocket of knowledge. 370 00:19:19.672 --> 00:19:21.973 Now you can go become a very valuable to people with money. 371 00:19:22.073 --> 00:19:22.493 I love it. 372 00:19:22.573 --> 00:19:23.634 It's good advice. 373 00:19:30.937 --> 00:19:31.818 You can write the check. 374 00:19:31.998 --> 00:19:33.559 It's not easy, but it's simple. 375 00:19:33.619 --> 00:19:40.962 We partner with people in our community because some people, they'll come in, they'll learn it, but then they don't have the confidence yet or maybe don't have a ton of capital yet. 376 00:19:40.982 --> 00:19:43.283 And that's totally fine, but they can be great deal finders. 377 00:19:43.403 --> 00:19:46.585 Being a great deal finder is 80% of the battle right there. 378 00:19:46.765 --> 00:19:48.205 It's finding a great deal. 379 00:19:48.245 --> 00:19:50.886 If you can bring that to the table, we partner with people all the time. 380 00:19:50.926 --> 00:19:54.567 We bring them into the co-partnerships, all the general partnership, and we'll co-partner. 381 00:19:54.587 --> 00:20:03.350 And then we become the sponsor, basically, helping sign on the loan, raise the rest of the money, put it together, manage it, run it until they get their further knowledge and better knowledge. 382 00:20:03.370 --> 00:20:05.271 And then now they're like, dude, I can run this on my own. 383 00:20:05.511 --> 00:20:05.831 Sweet. 384 00:20:06.071 --> 00:20:06.531 Go for it. 385 00:20:06.591 --> 00:20:08.752 I think we should do some deals together in South Carolina. 386 00:20:08.932 --> 00:20:11.773 Well, you know, I'm going to be out there in North Carolina here pretty soon. 387 00:20:12.033 --> 00:20:13.273 We're looking in the Southeast. 388 00:20:13.353 --> 00:20:14.253 I love that market. 389 00:20:14.393 --> 00:20:15.113 Great market. 390 00:20:15.253 --> 00:20:19.354 If you have access to quote unquote capital, that capital doesn't need to commit. 391 00:20:19.434 --> 00:20:21.814 They just need to say, dude, go find a great deal and we'll commit. 392 00:20:21.854 --> 00:20:25.135 That's all you need because finding great deals is 90% of the battle. 393 00:20:25.255 --> 00:20:27.435 And then it's a matter of just knowing how to run them and put them together. 394 00:20:27.615 --> 00:20:31.736 But if the capital is there that can strike relatively quickly, then everybody gets to make money together. 395 00:20:31.916 --> 00:20:34.276 And if everybody's making money together, everybody's happy. 396 00:20:34.376 --> 00:20:34.656 100%. 397 00:20:34.997 --> 00:20:37.637 Justin, where can everybody learn more about what you're doing today? 398 00:20:37.917 --> 00:20:41.819 that we're to want to get some help with some of these things and keep up with everything else. 399 00:20:41.939 --> 00:20:44.821 Official Justin Brennan on Instagram or YouTube, man. 400 00:20:44.841 --> 00:20:47.122 We're trying to put out a bunch of long form free content. 401 00:20:47.182 --> 00:20:49.564 They want to do apartments, get their mindset right. 402 00:20:49.584 --> 00:20:51.545 Then go to find Justin Brennan on YouTube. 403 00:20:51.785 --> 00:20:54.667 I would love them to check out some of our long form stuff and see if they like it. 404 00:20:54.747 --> 00:20:55.307 I love it, man. 405 00:20:55.527 --> 00:20:56.968 Justin, I like your style. 406 00:20:57.148 --> 00:20:58.569 We might could do some deals together. 407 00:20:58.870 --> 00:21:02.332 And I do think it's a space that I would like to be in more. 408 00:21:02.352 --> 00:21:03.473 I just don't know it. 409 00:21:03.573 --> 00:21:04.614 So we'll use your knowledge. 410 00:21:04.654 --> 00:21:05.595 I got capital too. 411 00:21:05.835 --> 00:21:07.596 It's more probably finding some deals. 412 00:21:07.776 --> 00:21:08.677 Got to schedule a look. 413 00:21:08.717 --> 00:21:09.818 Mine's more about rocks though. 414 00:21:09.858 --> 00:21:10.819 I know that I need to turn over. 415 00:21:11.099 --> 00:21:12.480 Yeah, people know people that know people. 416 00:21:12.600 --> 00:21:14.101 That's like the rule I've learned. 417 00:21:14.121 --> 00:21:17.503 You've probably heard this saying, you know, the more hands you shake, the more money you make. 418 00:21:17.563 --> 00:21:18.384 Here's my caveat. 419 00:21:18.404 --> 00:21:25.729 The only way I'll do that is if you let me, I know you're 6'5", I'm 6'0", and you're 200 and whatever pounds, but I want to wrestle for that big old thing you have in front of you. 420 00:21:25.809 --> 00:21:28.631 I got a feeling I'm not going to win, but I'm going to sure give a try to it. 421 00:21:28.691 --> 00:21:31.153 If you can pick me up, I might let you wear it for the day. 422 00:21:31.373 --> 00:21:32.814 You can come to the office. 423 00:21:32.834 --> 00:21:34.194 We'll let you put it on. 424 00:21:34.435 --> 00:21:36.516 You can wear it around town. 425 00:21:36.596 --> 00:21:40.138 I'll give my best effort and see what I can pull off. 426 00:21:40.158 --> 00:21:41.038 That thing is rad. 427 00:21:41.078 --> 00:21:43.039 I mean, hence the radical. 428 00:21:43.179 --> 00:21:43.719 Is it radical? 429 00:21:43.739 --> 00:21:44.400 Is that the

company? 430 00:21:44.420 --> 00:21:45.260 Yeah, radical. 431 00:21:45.280 --> 00:21:46.841 But then the belts got right about now. 432 00:21:46.901 --> 00:21:48.382 Number one business show on the planet. 433 00:21:48.562 --> 00:21:49.382 That's incredible. 434 00:21:49.423 --> 00:21:50.163 Yeah, we are. 435 00:21:50.183 --> 00:21:51.944 We've been number one on Apple for three years. 436 00:21:52.044 --> 00:21:54.725 They can come take it out of my hand if they beat us out of the thing. 437 00:21:54.746 --> 00:21:55.806 But we've held that spot. 438 00:21:55.846 --> 00:21:57.047 So I'll send them a bell when they do it. 439 00:21:57.067 --> 00:21:58.948 You tell me your background, by the way, is incredible. 440 00:21:58.968 --> 00:22:04.651 I didn't know all that with how you got started in the agency field and working with Steve Jobs and all of them. 441 00:22:04.691 --> 00:22:07.913 I mean, the Verizon commercial, like you were the you were the can you hear me now guy? 442 00:22:08.193 --> 00:22:11.014 It was a national campaign and I worked on it. 443 00:22:11.074 --> 00:22:13.475 That was my very first campaign that I worked on. 444 00:22:13.615 --> 00:22:18.837 We spread that word far and wide, spending probably a billion dollars over a 10-year period. 445 00:22:18.997 --> 00:22:21.397 And then that spun off into a lot of other things. 446 00:22:21.477 --> 00:22:24.078 I worked on all the major smartphone launches and everything. 447 00:22:24.258 --> 00:22:25.539 So it was a lot. 448 00:22:25.559 --> 00:22:26.799 Yeah, what a great background, man. 449 00:22:27.039 --> 00:22:27.960 What a great background. 450 00:22:28.400 --> 00:22:28.960 It was good. 451 00:22:29.180 --> 00:22:30.681 Justin, it's great meeting you. 452 00:22:30.701 --> 00:22:31.802 Great having you on. 453 00:22:32.242 --> 00:22:33.983 And we'll definitely follow up after this. 454 00:22:34.023 --> 00:22:35.084 Hey, guys, you never find us. 455 00:22:35.164 --> 00:22:36.685 Ryanisright.com. 456 00:22:36.705 --> 00:22:38.926 We'll have links to all of Justin's stuff. 457 00:22:39.066 --> 00:22:43.249 And, of course, the highlight clips, how you can learn more about what he's doing. 458 00:22:43.509 --> 00:22:45.110 This seems like a cool guy to do business with. 459 00:22:45.210 --> 00:22:46.651 So I tell you to reach out. 460 00:22:46.751 --> 00:22:47.912 I think Justin would be a help. 461 00:22:47.952 --> 00:22:49.093 He's helping our troops. 462 00:22:49.433 --> 00:22:53.035 He's helping the people that make what we do every day possible. 463 00:22:53.215 --> 00:22:54.056 So don't forget that. 464 00:22:54.216 --> 00:22:56.137 We appreciate you for making us number one. 465 00:22:56.257 --> 00:22:56.857 We'll see you next time. 466 00:22:57.158 --> 00:22:57.678 Right about now. 467 00:22:58.145 --> 00:22:58.986 Here's the truth. 468 00:22:59.506 --> 00:23:01.568 Information doesn't change your life. 469 00:23:02.108 --> 00:23:03.349 Execution does. 470 00:23:04.010 --> 00:23:06.772 So don't just listen to this episode and move on. 471 00:23:07.213 --> 00:23:08.254 Take the idea. 472 00:23:08.814 --> 00:23:09.755 Make the call. 473 00:23:10.315 --> 00:23:11.236 Launch the thing. 474 00:23:11.817 --> 00:23:12.798 Fix the problem. 475 00:23:13.458 --> 00:23:15.960 Build what you keep talking about building. 476 00:23:16.680 --> 00:23:21.364 For more, follow Ryan Alford on Instagram, at Ryan Alford. 477 00:23:22.004 --> 00:23:27.008 And watch or listen to every episode at ryanisright.com. 478 00:23:27.588 --> 00:23:29.430 This is Right About Now. 479 00:23:30.150 --> 00:23:31.211 Now quit waiting. 480 00:23:31.751 --> 00:23:32.432 Go win.