Podcasts about GP

GP and Geoff talk Tigers in Hour 2 ahead of their big game vs SMU 

Keishia is an army veteran with six years of service in the Army National Guard.  She began investing in real estate in 2011. She has been expanding and managing her portfolio of properties for the past 10 years. She has invested in a total of 151 units as a limited partner and is currently a co-GP on 56 units all from living abroad in Kuwait. [00:01 - 06:16] Proud Veteran RE InvestorLet's get to know Keishia KennedyKeishia's journey Kuwait and real estate[06:17 - 22:42] The Golden Secret to Remote and Passive InvestingActively participating in remote REII love investor relations! Online real estate investingMore potential, scalability, and growth in multifamilyKuwait, tax-free!Social media educationKennedy Remedy InvestmentsKeishia beyond REIhttps://kennedyfitness.org/Not a boring life Focus, don't be sidetracked[22:43 - 30:53] THE FINAL FOURWhat's the worst job that you ever had?At a pizza companyWhat's a book you've read that has given you a paradigm shift?LimitlessWhat is a skill or talent that you would like to learn?GymnasticsWhat does success mean to you?“Making a difference in other people's lives.”Putting actions behind your wordsConnect with Keishia. Links available belowTweetable Quotes:“There are other roles that you can play as a general partner where you don't have to be physically present.” - Keishia Kennedy“It's all about that education to help you reach your goal.” - Keishia KennedyConnect with Keishia: website, LinkedIn, Facebook, Instagram, Twitter, Pinterest, and Breaking The Chains Bail BondsLEAVE A 5-STAR REVIEW by clicking this link. WHERE CAN I LEARN MORE?Be sure to follow me on the below platforms:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInYoutubeExclusive Facebook Groupwww.yonahweiss.comNone of this could be possible without the awesome team at Buzzsprout. They make it easy to get your show listed on every major podcast platform.Support the show (https://www.buymeacoffee.com/weissadvice)

Chris Pate, Managing Director of independent wealth management firm True North Advisors, spent the first 11 years of his career at a multi-strategy hedge fund. Prior to True North Advisors, Chris spent 8 years managing the investment activities for Western Commerce Group in Fort Worth. Chris oversaw both public markets and private investments within Western's investment advisory operations, including equities, fixed income, alternatives, and hard assets.  On this episode, they discuss what Chris learned while working at a hedge fund, how True North selects and underwrites GP sponsors. They chat about capital allocation decisions in today's market, best practices when thinking about wealth management, and Chris' thoughts on the market. Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (01:58) - Chris' Career with Q Investments & the Hedge Fund industry (05:27) - How Hedge Funds Determine Where To Focus Their Attention and When to Move Along (12:15)  - Transition into Wealth Management and Chris' Current Role with True North (22:25) - What is a Multi-series LP? (24:20) - The Difference Between Private & Public Investments (28:35) - How do you identify good portfolio managers? (38:38) - What are things that are immediate No's for you? (45:36) - What are some reasons companies want to get into a larger fund? (47:51) - How are some people so good at raising money without a track record? (50:03) - How much time do you spend on references? (52:35) - How much weight goes into due diligence when you are familiar with other folks in a deal? (55:43) - How do you underwrite hedge fund managers vs. private investment managers? (56:52) - How do you think about deal structures? (1:00:47) - How do you think about the movement behind the democratization of capital? (1:03:33) - Does more alpha exist in direct deals than anything public? (1:04:18) - How do you think about capital allocation? (1:10:54) - Is there any reason that would cause you to not continue investing in specific funds? (1:13:24) - What are your thoughts on the current market? (1:21:06) - Final Thoughts on True North and Working With Entrepreneurs The Fort is produced by Johnny Peterson & Straight Up Podcasts

Paul Moore is an amazing contributor to BiggerPockets. Paul has launched multiple investments and developed companies appearing on HGTV and completed over 100 commercial & residential investments & exits in Real Estate. He has contributed in Fox business and Real Estate Guys™ Radio and is a regular contributor to BiggerPockets Producing live video and blog content. Paul also co-hosted wealth building podcast called “How to lose money” and  he has been featured on a number, over 200 at this point. Paul is a 3 time Real estate author. His new book is “Storing Up Profits: Capitalize on America's Obsession with STUFF by Investing in Self-Storage Paperback” In this episode we talked about: Paul's Bio & Background Entering Commercial & Multifamily Space Going Vertical in Self-Storage Rent Control Breaking into Self-Storage Self-Storage Performance and Risks within the recent 2 years Dislocation Aspect Underwriting of the Deals Thoughts on 2022 Outlook Why it is important to find your BIG WHY Mentorship, Resources and Lessons Learned Useful links: https://www.wellingscapital.com/resources https://podcasts.apple.com/nl/podcast/the-biggest-opportunities-in-real-estate/id1505750263?i=1000534008754&l=en Transcriptions:  So that's, that's what got me into real estate in the beginning. And then commercial, I ended up building a multifamily and operating it in the buckin oil rush of North Dakota. It was a multifamily quasi hotel. We did that for years. It was a lot of fun.   Jesse (4m 34s): That's great. So you, like, I'm not dissimilar from, from some stories and multifamily is you started with these properties, realize that you can make a dollar to two going that way. And then at what point did you end up going into the commercial space or the multi red space?   Paul (4m 50s): Yeah, so that was 20. So in 2010 we threw a bunch of friends and I threw over a million dollars to the bottom of a hole in the ground expecting about 50 times as much oil to come back out and nothing came out. And so I don't think we, I can almost certainly say we didn't think it through as well as it might sound now, but we thought, well, who made money in the gold rush? Well, those who sold the picks and shovels. So we noticed that there was a massive, massive housing shortage in North Dakota. I mean, like 10 or 20,000 people in a town of 3000, you know, sleeping in their trucks.   So we created this multifamily, which, which we ran as a, you know, sort of an extended stay hotel in 2011. And that was our entree in. And I ended up writing a book on multifamily about five years later and I was off to the races.   Jesse (5m 42s): Yeah, fair enough. I'm sure the, the Western Canadians can, can appreciate the throwing money in a hole in terms of the, so that moved from initially in Detroit, working with Ford motor company, was there an inflection point in your career where you, you said, okay, I'm going to go with the real estate way and, and left, left the job, or was it something that you kind of did on the side and kind of transitioned to?   Paul (6m 6s): Yeah. So when we launched our company, when I left Ford in 92, 93, it was actually, we started a staffing firm and I had only done a couple real estate deals on the side during those years. And honestly I hated real estate on the side, but when I had a chance to go into it full time in 2000 after we sold our company, that was, I I've honestly loved it ever since. Fair enough.   Jesse (6m 35s): Okay. So moving on to, you know, you write this book on multifamily, we're talking today about storing up profits, the, the book I mentioned at the outset, what can you tell us for the, for the average investor that say, you know, I'll give you an example is, is invested in some real estate, maybe it's on the commercial end. Maybe you, you know, whether it's single family or whatever, pick your vertical and keeps hearing about self storage. You know, we hear it, we hear it up here, you know, in the Canadian context, our friends to the south, we hear it constantly being brought up.   I think I mentioned before we had Brandon Moore or Brandon Turner on talking about self storage, but for the average investor, how would you describe the self storage vertical?   Paul (7m 17s): Yeah, so we, you know, we'd beat our head up against the wall for years looking for multifamily. And as I, you probably didn't know I'm old or, and, but seriously, those watching her going, he's really old anyway, but seriously, we, we were w w we're more conservative every year, you know, that I get, and, you know, I wanted to focus on investing and not speculating after making some mistakes in that arena. Hence the podcast name, how to lose money, but we, you know, really felt like it was like we were at the risk of overpaying for multifamily.   And unlike you, we didn't have a great acquisitions team finding those under the radar deals. And we found out that there were 53,000 self storage facilities in the us. That's the same as subway McDonald's and Starbucks combined, but three out of four are run by independent operators. And half, two thirds of those are actually run by single facility owners, which is also known as mom and pop owners.   And these mom and pops typically. I mean, first of all, the cap rates have compressed so much in the last eight or 10 years that they've doubled the value of their facility. And many of them did that by doing nothing except maybe staying the way they were, which is sometimes not always, but sometimes kind of mediocre. And so the opportunity for a medium sized company to go in and buy these facilities with this incredible intrinsic value, which I'll get into in a few minutes is enormous.   And we hadn't seen anything like that in multifamily in a long time. So we transitioned from multifamily to self storage, and then eventually also adding mobile home parks in 2018. And it's just been great. I mean, here's a couple quick stats. I mean, a couple quick issues to consider one would be that, I mean, if I'm renting a thousand dollar a month apartment from you and you raise my rent 6%, I might leave rather than commit to another 60 bucks a month or $720 a year.   But if you are renting me a self storage facility or unit, I should say, and you raise my rent 6%, well, you know, if it's a hundred dollars a month going to 106, I'm probably not going to spend a weekend rent a U-Haul get my buddies together to move my junk. I mean, excuse me, my treasures down the street, just to save six bucks a month. And that's one of the reasons that prices are so inelastic. And what I mean by that is, you know, I mean, they typically users don't leave because you raise the price, especially since most of the tenants think, Hey, I'm only going to be here a few more months anyway, and it's a month to month lease.   Well, that month to month lease has another benefit. And that is, it allows us to capture inflation. Think about it. Imagine my, my friend who has an Amazon sorting facility and has a 20 year lease on it, what's going to happen. If inflation goes way up, well, he's already locked in, or the guy with the warehouse, you know, that rents it for 10 or 20 years or a medical building. But this allows you to capture inflation increases, you know, potentially as much as every month. So we love that. There's also a ton of value adds.   Now, Jesse, the first time I heard value add self storage, I literally laughed. I thought, what are we talking about here? Four pieces of sheet metal, some rivets, a floor and a door. How are we going to do value at where where's the pain? Where's the fake hardwood flooring, where's the bark park. You know, none of that was available. And I had no idea. There were a significant number of value adds in self storage. For example, adding you hall now, adding you hall can, you can put a U haul out in front of your facility and with no cap ex nothing out of pocket, you can generate between one and $5,000 a month in commission, let's say it's $3,000 a month.   That's $36,000 a year using the commercial value at, I mean the commercial value formula, you know, 36,000 a year divided by, let's say a 6% cap rate. That's a $600,000 increase in value just by setting up a U haul operation at your facility. You can also sell locks, boxes, tape scissors, other retail items. You can add late fees. You can throw out bad tenants.   A lot of these mom and pops have a lot of delinquency. We invested in one self storage facility in grand junction, Colorado that had 80% delinquency, 80% of the tenants weren't paying or were paying late. And so there's just a lot of stuff you can do. You can add boat and RV storage, which is really popular. These days, you can add temporary storage like those, you know, storage, those boxes, and you can, there's so much, you can do two. And when you, you know, when you add the value formula and then add a little bit of safe leverage, it can really, really juice investor returns.   Okay.   Jesse (12m 42s): So I have a couple questions to start with, but just, just so I understand that correctly on the value add thing. Cause I, I never heard that concept before, either in terms of, so for example, the U haul, you basically just like you would see some industrial sites with multiple tenants that UCLU haul truck onsite, basically. That would be you, you basically getting the income for having that URL there and having individuals that are, that are tenants of yours renting that, is that correct?   Paul (13m 11s): Yeah. It wouldn't have to be tenants. Basically. You've got to, hopefully you've got a great location with high visibility on a main road you better. And these you halls will be sitting out front. People would book them from your location. And then the one catch is you have to have an employee there to check them out, you know, to sign the paperwork. And then when they come back in to sweep it out. So if you already have an employee think about self storage, how up and down somebody's hours are. I mean, I can imagine them sitting there for hours watching the security screens and Netflix.   Well, you know, it's not really a huge increase in cost to do that, but you get commission from you hall for doing this.   Jesse (13m 50s): It also be fair to say let's loop in Canada. Let's just say Canada is a big state and where you would be similar to New Jersey, New York, California. And I think Maryland in terms of rent control, the ability to remove tenants because of delinquency like you're describing here, is it, does it fall under the landlord tenant regulation in states or is it easier to, to remove them?   Paul (14m 16s): Yeah, that's another benefit of self storage is there's no eviction moratorium from COVID or from anything else, even in the height of COVID we were able to evict tenants. So that is another benefit for sure.   Jesse (14m 31s): I think the reason I bring up those states is those are all states with some form of rent, stabilization or control. And it's, it's a big factor up here, and I know it's a big factor in those states. So another appealing aspect, it seems of self storage, Paul, in terms of, so you talked, you opened the book with these, you know, different reasons that that self storage is an appealing asset class. And then you move into the ability to actually break into self storage. Cause you know, some people, if they're looking at these larger commercial deals and I think you're bringing up seven different paths about how you could get into the self storage space.   Could you talk a little bit about that?   Paul (15m 6s): Yeah. I, I wanted to write a book for bigger pockets on seven unique paths to get into commercial real estate. But instead I actually devoted the last one third of this book to that topic. And so this would apply to most, any commercial real estate. I think it's really hard for a lot of people, including myself for years to try to figure out how do I get into commercial real estate? And so the seven different paths real quick are one, some people call it stacking based on Brandon's a nomenclature there basically it would be buying a small facility, fixing it up, leasing it up, possibly refinancing, but more likely selling it and then going on to a bigger facility and then just rinse and repeat over and over.   I know that works. It's a long and winding road to the top, but it definitely will work. A second path would be being a capital raiser. Now here in the states, you've gotta be really careful with the securities and exchange commission if you're raising capital for other people's deals, but if you're a partner in the deal, or if you can work your way into a partnership with somebody for a raise and you raise the capital, that could be your specialty. And a lot of people do that are really good with people. They might have social media skills or podcasts, and they can raise a lot of money for other people's deals.   Some people have started their whole company by raising money. First Whitney Sule from the real estate syndication show. That's how he started. And he is just a master. Now at multifamily, he's raised a whole lot of money for his own deals, but he started as a capital raiser. Third would be a deal finder deal finder would be somebody who sort of serves hopefully legally in the role, similar to a commercial real estate broker and somebody who basically goes out and finds deals.   And then instead of getting a commission, they'd say, Hey, look, I like to get a piece of ownership in this deal. I'd like to stay involved and I'd like to do this over and over. And eventually hopefully, you know, you get to be a partner in that company or maybe another one. So deal finder is third. Fourth would be go big where you just start out at a high level. Let's say you won the lottery or, you know, retired from the NFL or you just have access to inherit it or your own money. You sold Bitcoin or something. And you can just start out at a high level and people do that.   It's, there's some challenges with that. Of course, path five would be, get a job. Now, most of your listeners probably thinking, I'm wait, I'm listening to Jesse to get out of my job. I don't want to get a job. Well, there are some benefits, especially if you're young to getting a job in property management or as a commercial broker or a commercial mortgage broker, possibly an asset manager, there's different things you can do to learn the lingo, learn the business, meet the people, get the connections and work your way into a career.   Six path would be taking the passive path. And that would be, you know, just becoming a professional or even a non-professional passive investor. Let's say you've got the money, but you don't have the time. You just need to do a great job. Vetting a great syndicator, check out several of them, use Bryan Burke's book, the hands-off investor, and go out. And that an organization that you can invest with and get, you know, essentially sometimes even higher returns than you'd get by yourself.   But somebody else is doing the heavy lifting. The seventh path is finding a mentor or a paid coach. And that would be, you know, finding somebody who will be willing to bring you into their training program or even somebody usually locally who will let you, you know, you trade your services for them, you know, the opportunity to hang around their office, get to know the product, get to know the company and the business as a mentee to that mentor. So those are the seven paths I talk about in the book.   Jesse (19m 5s): Yeah. What a great recap. I don't think I've, I've heard that in one, in one fell swoop, but that's pretty much covers everything. I didn't know that about Whitney. So for those interested, the syndication show, I believe it's called a fantastic podcast with Whitney and Brian Burke. We've had them on a number of times. I can't recommend that book enough. One thing I love about the book that he has is so many books are not from the limited partner's perspective, they're there from the, you know, the capital raiser or the, the GP. So it's nice, even as a GP, you really want to understand both sides of the coin.   So I'd recommend that to anybody that is interested. So Paul, from, from that outset, you know, you have these benefits of, of self storage. We go through this crazy time in the last two years, you know, the world has, hasn't probably one of the biggest health concerns of my generation. At least if not the last century and then various asset classes perform some not so well, some very well, how did self storage perform over the last two years? And maybe it's just in addition to that, what are the risks?   If, if any, with self storage?   Paul (20m 13s): Yeah, let me start with the risks. Cause I don't want to forget that it's really important. The biggest risk in self storage is really during the lease up. That's the time of the risk, at least. So in other words, we invested in a non unstabilized asset in Bradenton, Florida on a main road in a very, very booming area that had 29,000 new residential units being built in that area. Well, it was great until we tried to fill it up and that two new competitors, large national competitors had also built new facilities right down the road and the due diligence people miss this in that process, it just happened to fall right before they were really evident at any rate.   So it was harder to fill up that facility. It took two years longer than planned. And I think that is the biggest risk is large national competitors nearby by the way that eventually sold for an 80% profit to the investor. So it was great, but at any rate it was a hard road. So that's the number one risk would be competition, especially when you're unstabilized and leasing up. Other risks would include, of course, this is true for anything, a bad operator, you know, a great operator can take a mediocre deal and make it good or even great.   A terrible operator can destroy the best deal on the planet. And so bad property management, bad operator, those would be other risks with self storage, overestimating. Your ability to raise rents would be another one. You know, your, Hey it's 20% below market. Yeah. Well, there may be a reason for that. So really just, you know, things like that would be the major risks. I think if we drive around a lot of us, see just self storage in the, in the states everywhere.   And we're wondering why this has gotta be overbuilt. Well, I can take you to Nashville and show you, drive you around Nashville and show you why it is overbuilt. There's too many self storage facilities in too many locations around the city, but then I can drive you 20 minutes south to a suburb, a nice suburb Bellevue or Belmont they're neighboring suburbs. And they're completely underbuilt in fact, there's huge under supply there. And so this is why it's really important to invest with a great syndicator who uses tools like radius plus to check out, you know, the number of square feet of self storage versus, you know, the market, you know, the demographics, the number of people there.   So that's some of the risks as far as how it's done since COVID, it feels like you threw me a softball there, but I don't think you did the wall street journal, New York times, business wire and others have recently written articles basically saying that co that self storage is the big star in commercial real estate. Since COVID during COVID, we had students moving out of their dorms and their apartments, not knowing. I mean, the first weeks of COVID in March of 2020, what's going to happen.   We got to put our stuff in storage. Will we come back in two weeks when they flatten the curve or will it be two years we don't have. And so that, that was a nice little initial bump. Then there was the eviction moratorium that didn't happen, self storage. And then we have these unfortunate situations. I'm not making light of this, but a self storage thrives during the four days that's downsizing, dislocation, divorce, and death. And we had some of all of that going on during, and since COVID, let's look at dislocation, I mean, people have been moving in droves from places like Chicago, New York, San Francisco, and LA to smaller towns or different places like Utah and Texas and Florida and Charlotte and well, a lot of them need self storage along the way.   And so let's take dislocation as an example, Jesse, I mean, look in the last year at the massive number of people who have moved from places like New York city and Chicago, LA San Francisco to places like Utah and Texas and Scottsdale and Charlotte, a lot of these people need self storage along the way other people, you know, are moving for different reasons. There's been a lot of stress. There's been, unfortunately, a lot of divorce, there's been some death.   And so there's a lot of, you know, reasons that self storage is actually, you know, doing better right now. And another factor most people don't talk about is the price of steel and other building materials. Plus just the labor is in massively short supply. And so it's held up some self storage projects from coming to fruition. So the competition is actually lower, at least in these last, you know, let's say six to 12 months or more. And so really nobody would have dreamed, we thought self storage and we said self storage would do well in recessions.   Nobody had any idea how well self storage would do during this pandemic.   Jesse (25m 37s): Yeah, it makes sense. And just kind of from an anecdotal point of view, I can't, I can't remember a time where I've kind of put something in storage and I haven't used that storage for an extended period of time. I feel like, like you said, I believe you use the, the word inelastic. My, my very technical economic term would be sticky. It's just that aspect where once people store something in an area, like you said, you know, if you go from a hundred to a hundred, $6, is that going to make me move it probably not. You know, if you go up some crazy amount, then you might move the needle.   One thing I'm curious about I've, I've always been curious about the underwriting when it comes to self storage, because we always talk about self storage in the real estate context. I'm curious if that translates to the underwriting of the deal. And for example, you know, I somewhat of a rule of thumb when it comes to looking at multi-racial properties is an expense ratio of 40 to 50% know it'd be a good rule of thumb to do a back of a napkin calculation. Is that are the metrics with self storage?   What would they be most similar to in the real estate space?   Paul (26m 44s): I mean, that would be very similar to multifamily, but the operating expenses would be, I think about, I believe they would average something like 32% on average for most facilities, as some of the automated facilities have a lower expense ratio, but at the same time they can't have you all, they can't have showroom items like, you know, the retail items we discussed. And so their revenues might be a little lower as well. But yeah, other than that, you know, the, the revenues and certainly the value formula is quite similar.   Jesse (27m 20s): Fair enough. I just want to be a little bit mindful of the time. We do have four questions. We ask every guest when we wrap up here, but before we even get there, I'd like to get your thoughts on 2022 and maybe beyond in the relatively short term. And maybe we could talk about that a little bit in the context of self storage. And then, you know, if you want to opine on the broader real estate market, I'd love to get your thoughts.   Paul (27m 45s): Yeah. I used to make predictions when I knew nothing. And now that I know a little more, I don't, I mean, I've noticed that Charlie Munger, Warren buffet, Howard marks, those guys won't make any predictions of the cycle. Howard marks of course reminds us to, even though we can't know when the cycle is going to change, we should act appropriately for where we are in the cycle. So one thing we have here is this is a 10 real $10 trillion bills from Zimbabwe. And it just reminds me as I'm sitting here, you know, that we are in a real inflationary time and it might not be transitory.   And so I think that is something that, you know, self storage has going for it. Like I mentioned, it allows you to capture that inflation real time. And if it, you know, if deflation hits, it would allow, you know, you, that happened as well. I guess   Jesse (28m 40s): I would just say, I heard one of the best definitions from Howard marks when he said, if you want to define the, the cycle and in this could go for real estate as well. He said, stage one couple forward thinking. People realize that they think the market's going to get better stage two, a broader economy, and people realize it is getting better. Stage three people think it's going to get better forever. And he's like, I don't know why you need a better definition of that. And it it's people, you know, listening to this, they know I'm a big Howard marks fan, but I mean, it's a great, it's a great point.   And one thing I've, I've said a number of times is when my mentor, he said, you know, real estate is one of those few industries where you can actually charge your customers are downloaded inflation to your customers. I E tenants. And it sounds like self storage is a continuation of, of that. If not in more real time, given the fact that sounds like you could, you can do it on a monthly basis.   Paul (29m 35s): Yeah. Right. That's exactly right.   Jesse (29m 37s): All right, Paul, we, before we get to the final four questions here, I thought I would ask you why it is important for investors or entrepreneurs to find their, why.   Paul (29m 47s): You know, I woke up at 33 years old on October 7th, 1997. And I had a couple million dollars in the bank, which was completely unprecedented for a, you know, for me and I wasn't any happier. I wasn't any more, you know, like I didn't, I felt a little more successful than I did the week before, but not a whole lot. I think it's really important for people to find their big, why, you know, studies show that if you make over $95,000, I mean, let's say you make 950,000 or 95 million a year.   You're not any happier than you were at 95,000. So we really need to have something else to live for. I think we were created for more. And so I really would recommend people find a big why for me, it's a it's it's regarding human trafficking. You know, if you took the record profits, not the average, the record annual profits of apple, general motors, Nike and Starbucks, and you added those together, double that number. That's the approximate profits projected from human trafficking every year.   And I'd like to believe if I was alive in the 18 hundreds, I would have been an abolitionist fighting against slavery. And if I was alive or if I was an adult in the 1960s, I would have been fighting for civil rights. Well, this is a civil right. And it is slavery and it's happening right under our noses. So my company Wellings capital is dedicating ourselves to try to free 5,000 slaves in the next five years from human trafficking. And I'm just recommending, you know, on a broader point that everybody finds something you're passionate about.   That's bigger than yourself or your business,   Jesse (31m 28s): Dear. And I think it's important as you know, we do or individuals get successful individually or with their companies in our case, in real estate that you CA you figure out what those things are and you know, that human element of, of being, being successful or prosperous. Okay, we are going to switch it up to a four questions. We ask every guest, if you're ready to go, I'll fire them out. Yeah.   Paul (31m 51s): You bet. What's   Jesse (31m 52s): A one thing Paul, that you know, now that you wish you knew when you started investing in real estate.   Paul (31m 58s): I wish I hadn't known the difference between investing and speculating and investing is when your principles generally safe. And you've got a chance to make a return. Speculating is when your principal is not at all safe and you've got a chance to make a return. You know, they say low risk, low return, high risk leads to not high return. It's actually the possibility of losing all your money or making a high return. I wish I'd have known the difference when I started and lost a bunch of money early on.   Jesse (32m 27s): Yeah. I mean, it goes back to Howard marks where, you know, you have that curve where he's like, well, if high, if high risk means high return by definition, that is not that's impossible. It's it's, that would mean that it's certain it's, it's obviously the higher, the risk, the higher expected important expected piece there a return. Right. Okay. Number two, your view on somebody that's entering our industry, a younger person, what would you say to them in terms of mentorship and, and getting started?   Paul (32m 59s): Yeah, I would actually. So bill gates became the wealthiest guy in the world through three simple steps you can take right now. Number one, I'm sorry. I had to do that. Number one, he decided at a very young age, what he wanted to do, and he's stuck in that lane. He did not very, he said no to 10,000 distractions to stay focused. Number two step, he, all he partnered with, or he actually found a company that would partner with him who was the biggest wealthiest, most influential company in that business, the tech world.   And that was IBM. Then third, here's the surprise. He did everything in his power to make them successful. When he did that, he quickly became the wealthiest guy in the world at a pretty young age. And so I would say following bill gates steps, you know, try to figure out what you want to do. Say no to distractions, find a big organization. Who's willing to partner with you and do everything you can to make them successful. That's great. Okay.   Jesse (34m 3s): Number three, what is one book you just are constantly recommending to people?   Paul (34m 9s): Well, I was going to recommend Howard marks mastering the market cycle, but since your listeners are already familiar with that, I would go back to my second one by Jay Papasan and Gary Keller. The one thing, yeah,   Jesse (34m 21s): That's a great book. And you know what, it's funny with mastering the market cycle. That is one book that's fairly hard to find on. I think it's on audible. If you want to listen to the audio version, but maybe, maybe I'm not looking hard enough, but I books, I, it was more challenging to find. All right, Paul, I think we're going to get an interesting answer on this one. My favorite Bloomberg question, first car, make and model   Paul (34m 46s): 1969, black Ford Mustang with the hood scoop   Jesse (34m 52s): 1 64, a oh 69, sorry, 69. I was going to not quite as cool. I was going to say the, would that be similar to the a, was it the 1970 was Mach one with the, with the kind of riveted Fastback.   Paul (35m 8s): Yeah. Well, interestingly, my hood was an aftermarket hood and somehow or another, I ended up with a Fastback hood with the turn signals out on the hood, you know, with my 1969 car. So   Jesse (35m 23s): Yeah, and I think that car was a, it was an Evie electric. Now I'm just joking. I feel like, I feel like this question is slowly, slowly going to get phased out as more and more people that come on just never had a first car, which is just the paradigm. Awesome. Well, for listeners that want to either, we'll put a show notes for the book for links to reach you, but where would the best be the best place be to, to connect with you? Paul   Paul (35m 51s): Jessie, I'm sure you can relate to this. When I, all those years, I wanted to transition from residential to commercial. I didn't know what to do. And so I've written a guide for people, free guide for people who want to learn, how to make that transition. And it's at Wellings capital.com/resources. That's w E L L I N G S capital.com/resources.   Jesse (36m 14s): My guest today has been Paul Moore, Paul, thanks for being part of working capital.   Paul (36m 20s): Thanks, Jesse. It's prey to be here.   Jesse (36m 29s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five-star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one take care.

Focusing on smaller, growing markets for multifamily properties has provided John Todderud a chance to get ahead of the competition. Existing competition is low, and opportunity for cash-flow heavy properties is high—if you know what you're looking for. In this episode, John discusses what to look for when selecting a potential business partner and how to find and evaluate multifamily markets. John Todderud | Real Estate Background Founder of Cardinal Oak Investments which buys multifamily properties in growing markets with cash flow and limited competition for deals. They work with partners to help them manage the asset, fund the equity, maintain the books, and communicate with investors. Portfolio: 96-unit in Tulsa, OK as GP. Two investments as LP. Recently sold two properties: a 32-unit he syndicated in Greenville, SC, and a 15-unit in Yakima, WA. He's doing a 1031 exchange from the 15-unit, buying a 40-unit apartment complex in Kansas City. Based in: Renton, Washington Say hi to him at: www.cardinaloak.com | Instagram: @johntodderudoutdoors | john@cardinaloak.com Best Ever Book: Killers of the Flower Moon: The Osage Murders and the Birth of the FBI by David Grann. Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss

It can be hard to find good deals in a competitive market, but Nick Simpson has found a possible, profitable solution: Opportunity Zones. Opportunity Zones are low-income areas that are set up to encourage an increase in economic growth. For Nick, these areas hold a lot of possibility for multifamily value-adds. In this episode, Nick breaks down two of his deals and shares why we should look to Opportunity Zones for investments.  Nick Simpson | Real Estate Background Founder and CEO of Mentis Capital Partners which focuses on value-add multifamily (Class B & C), and ground-up development of multifamily and student housing (Class A). Portfolio: $60MM as GP 10 years of REI experience Based in: Salisbury, Maryland Say hi to him at: www.mentiscapitalpartners.com Best Ever Book: Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss

Michael Rubino is a mold remediator known for the unique way he helps people identify and remove mold from their homes. His book, The Mold Medic, explores the remediation process, including where to start if you suspect you may have a mold-related issue. Today, Rubino joins GP to talk about how the environment inside our homes can impact our health. He explains what makes a home susceptible to mold growth, why it's often invisible or difficult to detect, and what we can do to improve the air quality of our homes. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Seg 1: GP opens on the Grizzlies 11 game win streak and tonight's game v Dallas Seg 2: USA Today's Dan Wolken Seg 3: College Hoops including Memphis at ECU tomorrow 

Dr. Sam White graduated from Cardiff University with a degree in medicine in 2004. He is a UK based GP focused on Functional Medicine and a member of The International Lyme & Associated Disease Society and The institute of Functional Medicine. After a few years working as a GP he became weary of the ‘tick box' approach to modern medicine and began to research other ways to solve his patients' problems.Follow Zuby - https://twitter.com/zubymusic Follow Dr. Sam - https://twitter.com/iamdrsamwhiteSubscribe to the 'Real Talk With Zuby' podcast on Apple Podcasts, Spotify & more - https://fanlink.to/zubypodcast Join our Locals community - https://teamzuby.locals.com Support Zuby on Patreon - https://patreon.com/zubymusic Special thanks to GOLD TIER Patreon members:  Andrea Mucelli, Edwin Chiang, Libbie Richardson, Matt Gallagher, Matthew Steinfeld, Paul Pugh, Mondo, Todd Weyl, Destiny Hillhouse, OnlineBookClub.orgWebsite - https://zubymusic.comOnline Store - https://teamzuby.com 'Strong Advice: Zuby's Guide to Fitness For Everybody' eBook - https://gumroad.com/l/zubyfitness

Starting out as a Limited Partner, Joel Fine did everything he could to learn about multifamily syndication: he read books, listened to podcasts, and even asked to be part of a weekly GP meeting on one of his passive deals. In this episode, Joel discusses how he scaled from being a Limited Partner to a General Partner. Joel Fine | Real Estate Background Multifamily investor/syndicator at Lakeline Properties, which partners with investors to buy undervalued real estate assets, improve them, and resell for profit. Focus on value-add multifamily and multifamily ground-up development. Portfolio: GP in 1000+ doors. LP in 5000+ doors across six states. Based in: Austin, Texas Say hi to him at: https://lakelineproperties.com | joel@lakelineproperties.com Best Ever Book: The Hands-Off Investor by Brian Burke | Passive Investing In Commercial Real Estate by James Kandasamy Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss

Today's show is a little bit different from the norm. I'm catching up with good friend of mine and fellow GP, Dr Ayan Panja. You'll recognise him from previous episodes where we discussed heart and brain health and he has been practising medicine for 22 years since qualifying from Imperial College School of Medicine (my old university).He co-founded and teaches on the RCGP accredited course “Prescribing Lifestyle Medicine”, he's writing a book that I cannot wait to read, due for publication in January 2023, plus he's the host of a brilliant podcast called “Saving Lives in Slow motion”.This is where Ayan takes 15 minutes of your time to give his perspective on health and wellbeing which is “quietly-mind expanding” as he puts it. Informal, but professional and very very listenable. So good in fact, that I've embedded one of my favourite episodes that you're about to listen to before me and Ayan chat on my podcast. This is on medical myths it runs for about 12 minutes and then you'll hear me and Ayan talk about a number of other topics:BereavementLifestyle MedicineAyan's new bookWhy medics need to take a breakSome of our favourite UK artistsDo check out thedoctorskitchen.com for links to everything we discuss today and the eat, read, listen newsletter that I send once a week! See acast.com/privacy for privacy and opt-out information.

5 ways to boost energy with nutritional therapist Alice Mackintosh. Feeling tired all the time is the most common complaint in GP surgery's, in this short episode we break down the simple steps to combat exhaustion from balancing blood sugar to the key vitamins and minerals to look out for, plus the role of coffee, sugar and artificial sweeteners.Here's a simple recap - eat lots of bright, colourful, whole food ingredients and look at:Balancing blood sugarSwitching to whole grainsIncluding protein in every mealIncluding lots of iron (with vitamin C for added absorption), B vitamins, magnesium and essential fats (omega 3)Be mindful of the quantity and timing of coffee consumptionTry to avoid consuming lots of additives, refined foods, artificial sweeteners and burnt foodsAlice Mackintosh:@alicemackintosh_nutritionwww.alicemackintosh.com See acast.com/privacy for privacy and opt-out information.

Costa Sunglasses continues to lead the movement to inspire and support outdoorsmen and women to engage in the management and conservation of our watery world. That's why we've partnered with Costa to build a new challenge that rewards YOU for engaging in your fisheries!The Guide Post Podcast Challenge is simple: ask questions, win gear. Submit your questions and comments to the team through one of the following outlets and if it gets answers on a GP episode, you're going to win a brand new pair of shades from Costa. All questions are encouraged, regardless of your stance on the topic or level of understanding.Option A: Submit your questions via social media. You can find us on Instagram @saltwaterguidesassociation or our Facebook page, American Saltwater Guides Association.Option B: Email your questions to COMMENTS@SALTWATERGUIDESASSOCIATION.ORG.We look forward to hearing from you! #BetterBusinessThroughConservation

Melissa Elizondo wanted to branch out from her marketing firm and looked to add commercial real estate investments to her portfolio. In this episode, Melissa shares her current business strategy and analyzes her methods for closing on her first GP deal. Melissa Elizondo | Real Estate Background Partner at 1 Vision Capital which is a syndication group focused on converting existing landlords with single family portfolios into LPs on multifamily deals. Portfolio: Limited Partner for 118-unit in Savannah, GA. Full-time career as owner of marketing firm, Heartwood Marketing Solutions. Based in: New Braunfels, Texas Say hi to her at: 1visioncapital.com | Facebook and Instagram: @therealmelissaelizondo Best Ever Book: The Energy of Money by Maria Nemeth Ph.D. Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss

Matt Picheny is a real estate investment expert.  Matt has more than 15 years of experience in property analysis, financing, acquisition, construction, operations, and has invested in over 8,000 apartments nationwide. He is a licensed real estate agent, a Fannie Mae & Freddie Mac approved buyer and has earned both Commercial Real Estate & Real Estate Finance certificates from Boston University. Matt is also a member of the Forbes Real Estate Council, the Fast Company Executive Board, and is an advisor to a PropTech company.  Quote: “ I look at all deals as there are three components to them…it's the deal, it's the market, and it's the sponsor.” “My ethos in all of this is trying to make win-wins…that's something that's really important to me is making sure that our property ownership actually improves the community and not degrades it.” Highlights: 1:34 - Matt tells listeners more about his background in real estate. 05:24 - Matt speaks about his production career on Broadway, winning two Tony Awards, and his acting career growing up. 9:56 - Matt discusses building his own real estate company and the model he uses. 15:23 - Matt talks about what he saw on the LP side that he didn't take over to the GP side. 22:13 - Matt touches on the markets his company is investing in. 23:27 - Matt provides insight into his company's success in winning deals. 32:44 - Matt describes exit strategies and loan structures. 34:04 - Matt explains his company's underwriting process to mitigate risk. 38:09 - Matt answers Kevin's golden nugget question. Guest Website: https://picheny.com/ Recommended Resources:  Check out our company and our investment opportunity by visiting www.SunriseCapitalInvestors.com  Self Directed IRA Investment Opportunity –  Click Here To Learn More About How You Can Invest With Us Through Your SDIRA  Accredited Investors  Click Here  to learn more about partnering with me and my team on Mobile Home Park deals!  Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them MobileHomeParkAcademy.com  Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2  

Denis Shapiro has diversified his portfolio ranging from apartment buildings to self-storage to mobile home parks. Now, Denis has branched out into Affordable Housing, a market that few people decide to invest in. In this episode, Denis shares why Afford Housing can be a lucrative investment, along with five benefits you can gain from this asset type. Fund Manager at SIH Capital Group, which has an income fund and allows their investors to invest in specific deals they are GPs on. The income fund mirrors what one would find in a REIT but more consistent and is not publicly traded. Portfolio: LP on multiple syndications in various asset classes such as apartment buildings, mhps, self storage and atm funds. Also has 10 Residential syndications, including Ashcroft deals Has two upcoming GP deals in the works: a 50 unit Affordable Housing community closing in 01/22; and a 9 unit STR community closing in 02/22. Based in: Freehold, NJ Say hi to him at: www.sihcapitalgroup.com | https://www.facebook.com/sihcapitalgroup Best Ever Book: The 5 Love Languages of Children by Gary Chapman Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss

GP and Geoff talk Tigers heading into Sunday's big vs Cincy 

Seg 1: GP on the Tigers injury situation heading into Sunday's game v Cincy Seg 2: USA Today's Dan Wolken Seg 3: Grizzlies win their 7th straight 

GP and Geoff discuss Ja's potential All-Star bid, Grizzlies, meatballs and more in Hour 2 + another wild update on the AB story 

Listen in as Tom and Dan answer your questions about how to be a better and more encouraging leader, what should you do if you're losing passion for your business, how to find skilled people, what should be your GP when you're new to the business, what action you should take when you find out one of your staff members is using office time, utilities, and resources to work on other projects, and is it necessary to have the logo and the website to do your business.   In this episode, we talk about…    Question 1: Can you give any suggestions on courses to be a better, more encouraging leader in my business? Check out anything by John Maxwell—the guru on leadership Read Winning the Contractor Fight book by Tom Read Uncommon Leadership book by Ben Newman If you want to be a better leader, be the example Put yourself in the shoes of a past leader   Question 2: What should I do if I am losing passion for my business and finding it difficult to hire skilled employees? Figure out what you like about your business Be positive, and then start spreading your business Whether you find people or not right now, start having fun yourself in the business and finding ways to win. Put on your own job fair Build your brand consistently Have a careers page on your website   Question 3: When you're new to the business, do you start off at 50% GP or punish yourself for a couple of decades undercharging until you're in trouble? It's much easier to have conversations with new customers than with old clients.  Position yourself as not the cheap guy Build your brand the way you want it to be right from the start     Question 4: What do you do when you find out that one of your staff members uses office time, utilities, and resources to work on other projects? Figure out what your employee handbook says. Explain clearly during onboarding that company resources and time cannot be used for side projects Before you take any action, find out why they are doing that.   Question 5: Is it essential to have the logo and the website to do the business?  If you're going to have a real business, it's very important to have a real company identity, branding campaign, and strategy. If you are a company, you need to be branded. You're irrelevant if you're not out there branding and marketing your business and telling a story.   Resources:  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info check out: https://TheContractorFight.com/Battleground    == Get your free copy of Tom's book Winning the Contractor Fight (Just pay to ship) == https://thecontractorfight.com/book    == Grab the Gear == https://gear.thecontractorfight.com/    == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  Live Unafraid Swag: https://thecontractorfight.com/unafraid    The Contractor Fight is the ultimate resource for becoming an uncommon contractor! Pick a fight with mediocrity. Live Unafraid.

Starting out as an underwriter fresh out of college, Justin Goodin started to teach himself about commercial real estate investing, relying heavily on YouTube and local meet-ups. The hard work paid off, and today he is a GP on 400 units. In this episode, Justin shares how he found his first deal, sourced investors, and created an effective direct mail campaign that helped him close an off-market deal. Founder/CEO of Next Level Equity. They focus on capital preservation while striving to deliver strong, risk-adjusted returns to their investors. Exclusively focused in apartments as a multifamily syndicator. Portfolio: 400 units as a GP 3 years of real estate experience Based in: Indianapolis, Indiana Say hi to him at: NextLevelEquity.com | Facebook group 'Next Level Apartment Syndications:' www.facebook.com/groups/nextlevelapartmentsyndications Best Ever Book: Best in Class by Kyle Mitchell and Gary Lipsky Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss

Dr Máire Finn, Clare-based GP

Joining doctors Lisa and Sara on today's episode are GP and Perinatal Mental Health Champion Dr Carrie Ladd and Perinatal Psychiatrist Dr Sarah Jones. We discuss types of mental illness that can be experienced in the perinatal period and the challenges in primary care when helping patients and families. We cover tips for addressing these challenges, focusing on communication, resources and managing medications. We also talk about the impact of the pandemic and the Spotlight programme for disseminating perinatal mental health teaching and training trainers. Useful resources:  RCGP Perinatal Mental Health toolkit: https://www.rcgp.org.uk/clinical-and-research/resources/toolkits/perinatal-mental-health-toolkit.aspx  Best Use of Medicines in Pregnancy ‘Bumps' website: https://www.medicinesinpregnancy.org/ The Lancet Series on Perinatal Mental Health (2014): https://www.thelancet.com/series/perinatal-mental-health NICE Guidance on antenatal and postnatal mental health: clinical management and service guidance: https://www.nice.org.uk/guidance/cg192 Proud 2 b Parents Organisation: https://www.proud2bparents.co.uk/ Dad Matters Organisation: https://dadmatters.org.uk/ The Dad Pad, advice for new fathers: https://thedadpad.co.uk/ First 1001 days movement: https://parentinfantfoundation.org.uk/1001-days/ Action on Postpartum Psychosis Charity: https://www.app-network.org/ Maternal Mental Health Alliance Charity: https://maternalmentalhealthalliance.org/ Tommy's Trust: https://www.tommys.org/ Maternal OCD Organisation: https://maternalocd.org/ ___ We really want to make these episodes relevant and helpful: if you have any questions or want any particular areas covered then contact us on Twitter @PCKBpodcast, or leave a comment on our really quick anonymous survey here: https://pckb.org/feedback ____ This podcast has been made with the support of Greater Manchester Health and Social Care Partnership, GP Excellence, Greater Manchester Training Hub and the GP Fellowship Programme, as well as Wigan Borough CCG. Given that it is recorded with Greater Manchester clinicians, the information discussed may not be applicable elsewhere and it is important to consult local guidelines before making any treatment decisions.  The information presented is the personal opinion of the healthcare professional interviewed and might not be representative to all clinicians. It is based on their interpretation of current best practice and guidelines when the episode was recorded. Guidelines can change; To the best of our knowledge the information in this episode is up to date as of it's release but it is the listeners responsibility to review the information and make sure it is still up to date when they listen. Dr Lisa Adams, Dr Sara MacDermott and their interviewees are not liable for any advice, investigations, course of treatment, diagnosis or any other information, services or products listeners might pursue as a result of listening to this podcast - it is the clinicians responsibility to appraise the information given and review local and national guidelines before making treatment decisions. Reliance on information provided in this podcast is solely at the listeners risk. The podcast is designed to be used by trained healthcare professionals for education only. We do not recommend these for patients or the general public and they are not to be used as a method of diagnosis, opinion, treatment or medical advice for the general public. Do not delay seeking medical advice based on the information contained in this podcast. If you have questions regarding your health or feel you may have a medical condition then promptly seek the opinion of a trained healthcare professional.

Seg 1: GP and the Grizzlies win over Brooklyn last night and Ja getting a ton of national attention Seg 2: Daily Memphian Grizzlies Beat Writer Drew Hill Seg 3: Tigers play Tulsa tonight  See omnystudio.com/listener for privacy information.

An interview with Hanne Ockert-Axelsson. Hanne is a Senior Product Manager at accuRx, a UK-based Healthtech company revolutionising the world of General Practioners (GPs) in the UK National Health Service (NHS). Hanne formerly worked at various NGOs and health-focused organisations before seeking out digital product management to make a measurable impact quickly. We talk about a lot, including: The mission behind accuRx, how their solution got into the hands of 98% of GP practices in the UK, and how healthcare providers deserve great products like the rest of us How she got her first product job without any experience, and used her passion for healthcare to become the first product hire at accuRx The resources she used to level up her game once she'd got that first job, and the one key book she'd recommend to other people making the move Her passion for high performing teams, what that means to her and some of the ways she tries to help build a performant culture The difference between Big Tech product management & other companies and why it's important to get in the trenches with your team Why you shouldn't fix what ain't broke when moving into a new team, to avoid demoralising people and losing their buy in to fix the real problems How to be a good team leader, the importance of identifying your leadership style, being your authentic self but the being best version of yourself where required And much more! Contact Hanne You can find Hanne at Twitter, LinkedIn or check out her writing on Medium.

In just 100 days, John Casmon closed $20,000,000 in multifamily deals. In this episode, John discusses how to find good deals during a pandemic, how to adapt your strategy, and how he was able to close on his profitable deals in such a short amount of time. John Casmon | Real Estate Background Founder of Casmon Capital Group which aims to help busy professionals invest in real estate without taking on a second job, focusing on multifamily investments. Portfolio: $40MM as GP. Total investment experience as a GP is over $100MM. He closed $20MM in 100 days in 2021 Based in: Cincinnati, Ohio Say hi to him at: casmoncapital.com/sampledeal  Best Ever Book: The 80/80 Marriage: A New Model for a Happier, Stronger Relationship by Nate Klemp PhD Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss

“We all have different parts of us that show up differently as we orient through our life,” says Amy Crawford, a therapist, educator, and trauma recovery coach. In this conversation, Crawford and GP discuss a therapy model called Internal Family Systems, which, in very simplified terms, is based on the idea that each of us is made up of many parts. By connecting and changing our relationship to those parts, we can begin to understand our true and authentic selves—and live more vibrant lives—says Crawford. Learn more about your ad choices. Visit podcastchoices.com/adchoices

GP and Geoff continue the Grizzlies and Tigers discussion in Hour 2  See omnystudio.com/listener for privacy information.

GP opens on the big weekends for the Grizzlies and Tigers + joined by CBS Sports' Seth Davis in Hour 1 to talk Tigers and College Hoops. Also 4 Stories including Antonio Brown's outburst, Titans clinch and more  See omnystudio.com/listener for privacy information.

Andrew Schutsky is the founder of Redline Equity, LLC, a real estate syndication firm specializing in the acquisition, improvement, and management of large apartment buildings. Andrew started his real estate journey with a “house hack” of his first home in 2007. In the multifamily investment space, Andrew is currently active as both a GP and LP and has ownership interest in over 1100 units. Here's some of the topics we covered: NetworkingJuggling W2 job, family and multifamily side hustleThree keys to time managementFilling gapsBeing part of a teamIdentifying your strengthsInvestor relationsThe value of educationUsing social media for reachAdding value and being consistent To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com  Please Review and Subscribe

Dr Nuala O'Connor, Covid Lead for the Irish College of General Practitioners and Cork based GP on the rising Omicron cases.

If you haven't already, it's time to think about your birth plan & packing your hospital bag! Issy introduces her friend Sophie Hiscock to the podcast, a midwife who specialises in birth plans and informed decision making.You can purchase & download the full 40 week series (which includes 24 episodes) plus early access to bonus episodes at www.isitnormalpodcast.comFollow us on instagram here: @isitnormalpodcast*This podcast is intended as an informative discussion around general issues related to pregnancy, birth and the postnatal period. If you have any questions or concerns relating to your health and pregnancy it is important to contact your midwife or GP. See acast.com/privacy for privacy and opt-out information.

Over the past 16 years, Matt Picheny has learned a lot about active and passive investing. In this episode, Matt shares how he scaled as an investor, starting with his first deal as a limited partner and what lessons he's learned along the way. Matt Picheny | Real Estate Background Founder of Picheny, which syndicates multifamily investments. Portfolio: Over 8,000 units total: 2,337 as a GP, approx. 6,000 as an LP. 16 years of real estate experience Based in: Brooklyn, NY Say hi to him at: https://picheny.com | www.linkedin.com/in/picheny Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss  

Időutazás, időszámításBeat timePulse 3D (06:00)WRC 10, Forza autós játékok fejlődése (15:10)Hallgatói szavazás - Ratchet & Clark (50:10)Lake (56:05)Mario Party Superstars (01:06:14)Greg Switch rivjú (01:15:40)Paw Patrol - Mancsőrjárat GP (01:27:10)Burnout - volt motor vagy nem? (01:34:55) Amennyiben tetszik a podcast, támogass minket a Patreonon!

This episode was originally published in Jan 2021.Dr Rangan Chatterjee makes a welcome return to the podcast for a conversation about weight loss. While it's that time of year when we're bombarded with messaging about ‘new year, new you' and so many prompts about going on a diet and starting a new fitness regime this episode definitely isn't that.@drchatterjee shares his insights from nearly 20 years in GP practice and those appointments where his patients have said, ‘I just can't seem to lose weight'. What Rangan observed is that so many people were only looking at diet and exercise when, in actual fact, there are more factors at play.Rangan supports his expertise from years in practice and scientific research with his signature approach, which is one of compassion. It's this approach that has helped him guide patients towards their goals and now readers of his new book Feel Great, Lose Weight.In our conversation @drchatterjee and I discuss:The emotional relationship we have with our bodies, food and fitness.The controversial topic of ‘food addiction'.Why you can be trying your very best to be healthy and fall short for reasons that aren't your fault.How to break down your health goals so they become enjoyable pursuits not another stick to beat yourself with.How to have a healthy relationship with your bathroom scales.Why how we talk to ourselves is a crucial part of our progress.How our emotional baggage and childhood experiences can influence our weight; and so much more....I am acutely aware that the subjects of weight and weight loss can be difficult ones to approach because the relationship we have with these issues tends to be an emotional one. For that reason, we are inclined to see, hear and react to discussion of these issues through that personal emotional filter. I don't want to apologise for my content but I do want to explain; I hope it's evident I have no intention, when creating any episode of the podcast, to upset, alienate, offend or shame. As much as I'm mindful of this and have wrestled with whether it's appropriate to create content on weight loss or not, I've decided it's important to have this conversation for the benefit of the person it may help rather than not create it for the person it may potentially offend.To join the closed Facebook group for the podcast click here >> The Emma Guns Show Forum.To follow me on social media >> Twitter | Instagram.Support this show http://supporter.acast.com/emmagunavardhana. See acast.com/privacy for privacy and opt-out information.

What a year! Find out who were the most impressive, disruptive and innovative General Practice technology players in 2021… And what do we predict for 2022 in Primary Care!Join the Medics Money New To GP partnership course for the leaders in finance, wellbeing, workload management, and your peers on the same journey to become a safe, effective, healthy GP partner. Join at medicsmoney.co.uk/gpcourse and reference eGPlearning

Before getting into the episode, we want to extend our thoughts to all who have been impacted by the devastating wildfires in Colorado. As the guys discuss on the show, the link below was put up by local officials for all who wish to donate in recovery efforts. https://www.commfound.org/grants/get-grant/Boulder-County-Wildfire-Fund It's the final show of 2021 and Auburn looks like they may be the best team in the SEC! Providence has the most Quad one wins in the country AND games being played this weekend means the return of the Final Four and One! (1:38) Auburn may be the best team in the SEC (15:53) Providence has more Quad One wins than any other team in the country (27:00) The Final Four and one picks (1:04:42) Tubby Smith to be honored by Kentucky, and GP has a story for that. Learn more about your ad choices. Visit megaphone.fm/adchoices

Si parla di cosa ha caratterizzato il nostro 2021 tecnologico, della serie TV animata di League of Legends, di come visualizzare comodamente il GP su iOS, di come comprimere i PDF su macOS, di uno zaino eccellente e dei contatti "erede" per l'apple ID.

As a real estate entrepreneur or investor, you probably know that a more lucrative and efficient investment vehicle is to scale into larger multifamily syndication deals. But, how can you advance your investments when you have limited resources and a minor track record as an operator? Rather than wait for years to make progress, work with people who bring complementary skills and qualities to the table and co-GP your real estate syndication.In this episode, Keith Meyer of Symphony Capital Group explains how to structure an effective real estate co-sponsorship or co-GP model that will help scale your investments while being careful of the nuances of such deals. As with other investment efforts, setting up a co-GP structure entails hard work, making smart decisions, and finding the right partners and resources while making your own valuable contribution.Listen to our conversation and find out why Keith favors the co-GP type of structure as the best way to go for beginning syndicators. 

Today Dr. Mark Costes is joined by Matt Quinn and Dr. Bill Keith to discuss AlignFlow. Mr. Quinn built his career through sales and channel development. He has been on multiple lead teams at companies such as ADP and Sky Mall. Dr. Keith is the owner of a large group practice that has benefitted from the use of AlignFlow. Tune in to hear how these guys are teaming up to bring AlignFlow to GP offices across the country. EPISODE RESOURCES https://alignflow.com Subscribe to The Dentalpreneur Podcast Visit the Dentalpreneur Podcast website Write a Review on iTunes Dental Success Network

The Delphi Podcast Host and GP of Delphi Ventures Tom Shaughnessy sits down with Tarun Chitra, Founder of Gauntlet, a financial modelling platform that uses battle-tested techniques from the algorithmic trading industry to inform on-chain protocol management. The two discuss the intricacies of Gauntlet's risk models, the future of governance, the state of artificial intelligence, and much more! Show Notes:  (00:00:00) – Introduction. (00:01:23) – Tarun's background / Moving into crypto. (00:16:44) – Overview of Gauntlet. (00:26:06) – Updating risk models. (00:30:16) – Are risk models independent? (00:34:27) – Getting to full automation. (00:41:29) – The future of governance. (00:45:58) – Automated governance modelling.  (00:49:09) – Sophisticated AI attack vectors. (00:52:12) – Thoughts on the state of AIs. (00:58:05) – Biggest goal for Gauntlet in the next year. (00:59:19) – Tarun's favorite hair color. Social links:  Tarun's Twitter Gauntlet Twitter Resources:  Delphi Podcast Summaries Gauntlet Website Gauntlet Blog More

“The more universal you try to make something, the less meaning it has,” says Stanley Tucci. “The more specific something is, the more universal it becomes.” GP catches up with Tucci to talk about threading together different passions and the transcendent places food can take us. Tucci talks about his family, his memoir Taste, and recovering from cancer while filming a food and travel series. This one made us laugh. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Zécca Lehn a GP at Responsibly Ventures. Their mission is to back remarkable teams focused on Venture Scale Positive Impacts.★ Support this podcast ★

As we are in-between seasons, you know we had to do a spoiler cast for Spider-man: No Way Home! Gp and AD's favorite superhero ever!! And they not just yapping about this movie alone. Player 2 has entered the podcast own MCpaperstacks and Derrick aka Full metal Murk came thru to talk all the web swinging action of delight this movie has brought to us all. If you have not seen the movie, it is best to Not listen to this because Spoiler Alert all over this bonus episode! Check all things Player 2 has entered the Podcast here. https://linktr.ee/player2hasenteredthepod Gamer Goodies and More | eBay Stores Check out all things Call it like I don't see it Podcast here. https://linktr.ee/Callitlikeidontseeit

GP and Geoff discuss the year in Memphis sports, Grizzlies, Tigers and more in Hour 2  See omnystudio.com/listener for privacy information.

GP opens on the NBA's new Covid policies and why they've made the change + joined by Sports Illustrated's Chris Mannix in Hour 1  See omnystudio.com/listener for privacy information.

On this special replay, Jaclyn Hester of Foundry Group joins Nick on a special Crisis Coverage installment to discuss GP and LP Alignment, Challenges for Emerging Fund Managers, and How the Explosion in Seed Fund Volume Plays Out. Guest Update: Jaclyn is now Partner at Foundry Group. Congratulations Jaclyn!  In this episode, we cover: Tell us about your background and path to VC For those who don't know talk about the approach at Foundry with both the LP and GP model Foundry traditionally had no apprenticeship model and no junior investors… were you the first? Pandemic… Are you making investments currently and what are you hearing from other LPs? What's your advice for GPs re. building relationships and momentum w/ LPs during these uncertain times? What's the biggest mistake emerging managers make when fundraising? What do new fund managers underestimate when starting a venture firm? Does it matter how specific a thesis is? Do you need to see a unique, focused and compelling edge or are you just as receptive to a generalist w/ a strong network and track record? What question tends to trip up GPs? What are some of the most important things GPs should ask LPs when raising? What do you think are the most important things GPs and LPs need to be aligned on for a successful relationship? How does the explosion in volume of seed funds affect you approach to selection? How do you think this plays out — most funds fail? Returns more evenly distributed? Power law no longer applies (or is less pronounced)? Fast forward 5 years and let's assume there's been a fundamental shift in early stage Venture. What do you think is the most likely, largest change that's occurred? What advice do you have for young people that aspire to be a VC someday? Not going to ask for favorite GPs but, I will ask, if you could break quarantine to grab a cocktail w/ one GP — who do you choose? ; ) 3 Data Points… You're approached by an emerging VC firm raising fund II. The fund manager did not work for a large, brand-name venture firm before and she has never had an institutional investor. Net TVPI is 1.4, and Net IRR is 35% and it's a 2018 vintage. The catch is you can only ask 3 questions (for 3 additional data points) to make your decision. What 3 questions do you ask?

GP and Geoff discuss Geoff's story today on the Grizzlies lease agreement and why it appears to be good news for the franchise staying in Memphis long term  See omnystudio.com/listener for privacy information.

In this episode, Specialist Sports Physiotherapist, Morten Hoegh, talks about pain and injury management and research. Today, Morten talks about his workshop on pain, the problems in the research around pain and injuries, and embracing the patient as the expert. What is nociplastic pain? Hear about the injury versus pain narrative, treating the perception of injury during pain, the problem of over-treating pain, and get Morten's advice to his younger self, all on today's episode of The Healthy, Wealthy & Smart Podcast.   Key Takeaways “There is a difference between having an injury and being in pain.” “You will have injury and pain on one end, but you will have pain without injury on the other end.” “Just because we know something doesn't mean we know everything.” “Pain prevention is well-intentioned, sometimes unrealistic, and possibly unhelpful.” “All pain is real. It's always experienced as pain.” “People who live their life with pain, they are experts.” “We have different aspects and different competences, and we should bring them together.” “We should definitely try and cure pain from the planet, but maybe not by opioids.” “Things take time to cope with.” “Make sure you stick to good ideas if you think they're good, but also leave them if they're not.”   More about Morten Hoegh After qualifying as a clinical physiotherapist (1999) and completing several clinical exams, Morten was granted the title of specialist physiotherapist in musculoskeletal physiotherapy (2005) and sports physiotherapy (2006). It was not until 2010-12 he made an entry to academia when he joined the multidisciplinary Master-of-Science in Pain: Science & Society at King's College London (UK). From 2015-19 Morten did his PhD in Medicine/pain at Center for Neuroplasticity and Pain (CNAP), Aalborg University. He is now an assistant professor. Having spent more than a decade as clinician, teacher, and business developer, he decided to focus on improving national and international pain education based on the International Association for the Study of Pain (IASP). Morten was vice-chair of the European Pain Federation's Educational Committee from 2018-20 and has been involved in the development of the Diploma in Pain Physiotherapy and underlying curriculum, as well as the curricula in nursing and psychology. At a national level, Morten has been appointed to several chairs and committees, including the Danish Medicine and Health Authorities and the Danish Council of Ethics. He has co-authored a textbook on pain, and written several book chapters, clinical commentaries, and peer-reviewed basic science articles on pain and pain modulation. Morten's first book on pain in layman's terms will be published in January 2021. Morten is regarded as a skilled and inspiring speaker, and he has been invited to present in Europe and on the American continent. He is also a prolific debater and advocate of evidence-based and patient-centred approaches to treatment in general. Morten is motivated by his desire to improve management of chronic pain, reduce stigmatisation of people with ‘invisible diseases', and to bridge the gap between clinical practice and neuroscience research in relation to pain.   Suggested Keywords Healthy, Wealthy, Smart, Physiotherapy, Neuroscience, Pain, Injury, Rehabilitation, Research, Experience, Treatment, Management,   Resources: #IOCprev2021 on Twitter.   To learn more, follow Morten at: Website:          http://www.videnomsmerter.dk                         https://p4work.com Twitter:            @MH_DK Instagram:       @mhdk_drmortenhoegh LinkedIn:         Morten Hoegh   Subscribe to Healthy, Wealthy & Smart: Website:                      https://podcast.healthywealthysmart.com Apple Podcasts:          https://podcasts.apple.com/us/podcast/healthy-wealthy-smart/id532717264 Spotify:                        https://open.spotify.com/show/6ELmKwE4mSZXBB8TiQvp73 SoundCloud:               https://soundcloud.com/healthywealthysmart Stitcher:                       https://www.stitcher.com/show/healthy-wealthy-smart iHeart Radio:                https://www.iheart.com/podcast/263-healthy-wealthy-smart-27628927   Read the Full Transcript Here:  00:02 Hi, Morten, welcome to the podcast. I'm very excited to have you on. So thanks so much. Thank you for having me, Karen. It's a pleasure to be here. Yeah. And today, we're going to talk about your really wonderful, wonderful workshop at the IOC conference in Monaco. That was just a couple of weeks ago. And you did a great workshop on pain, which is one of my passions.   00:27 But I would, I think   00:30 the best thing for us to do here is to just throw it over to you. And let you give a little background on the talk. And then we'll dive into the talk itself. So go ahead.   00:43 Thank you. And, you know, I'm really happy that you liked it. It was a great pleasure to present that the IRC was my first time there as well. A lovely place to be and very lovely people. And he really well organized conference as well. Well, back to the background. So the tool was, the workshop, as it were, was actually originally something I planned with Dr. Kieran or Sullivan, who is now in Ireland. Unfortunately, he couldn't come due to turn restrictions and all of that for COVID. So we had to change it slightly. But over the period of the last sort of year or so I've been working with colleagues at all university where I'm affiliated and test Denton and Steven George of Adelaide and, and to university respectively. And together with them, we sort of have written up this idea that there is a difference between having an injury and being in pain. And the reason we came about that was because we wanted to try and look into what is actually the sort of narrative definition of a sports injury. And and some one of my colleagues are actually two of my colleagues Kosta, Luke, and Sabine Avista. We're looking into this and trying to sort of find out what the consensus what they came up with, when they were looking at the last 10 years of of sports related research is that the same articles could use injury and pain for the same thing. So it was being used almost as well, not almost, but as sentiment synonymously throughout the program, or the manuscript, and others will stick to pain and others will stick to injury. But if you then try to go down into the methods and find out what is an injury, really, some would have definitions, but there weren't really anything. And definitely, there wasn't a clear distinction between when is the tissue injured. And when is the athlete suffering from pain that is keeping them from not doing what they want to do.   02:50 So we came up with this idea to write an editorial for the BDSM. We couldn't get it accepted as an editorial, we were under the impression that maybe the topic was a bit too narrow. So it really wouldn't have any impact. But we had a we had some some help from from   03:12 sorry, you can cut that bit out. I was just losing her name. Let me just get it here.   03:21 Oh, that's she was such a great help. I'm really sorry for not being able to I definitely think we should put her name in there.   03:32 Oh, here we go.   03:35 So we wanted to do the editorial first. But we were under the impression that we couldn't get the editorial through because the topic, you know, is probably a bit too narrow. But fortunately, Madeline Thorpe, who is working with TAs in Adelaide, she helped us create this infographic that sort of conveyed the message of the difference between what we call a sports related injury and a sports related pain. So after a few revisions, the BJs took it in as an infographic with a short text to describe what we mean. And and it's been. It's been, you know, quite well cited afterwards. So we're very happy with the the attention that this idea has got. And then of course, what we really are trying to do here is to create two new semantic entities as we say, Where where it's clear when we do research, but also when we talk to athletes, are you really injured? Is the tissue injury that needs healing and where you might need you know, specific treatment for that injury versus Are you having pain as a consequence of an injury or even without an injury, which is what we call sports related pain. So that's sort of the broader concept and and I hope I've I've done right with my co authors.   05:00 because they've Of course, been been a huge part of both the development and the writing of these, these, this infographic.   05:09 Yeah. And can we now sort of dive in a little bit deeper? So, injury versus pain? Right. I think a lot of people will think that every time you have an injury, there's pain. So used a really nice example in your talk. So does tendon tissue damage lead to pain? Yeah. But is the pain in the area of the tendon equal to damage to the tendon?   05:38 Maybe not. Yeah. Right. Oh, so yeah. So let's, let's have you kind of dive into this injury versus pain narrative. And if you want to go into those pain mechanisms that you spoke about, we can dive into that as well, because I know that that people had some questions on that on social media. So let's first talk injury versus pain. Yeah, again, my my perspective on this with my background, being a physio and, and sort of a neuroscientist is that I come from it, I would say from a pain, scientist pain mechanistic approach. And what I try to do is to understand what goes on in the human that could explain why they feel pain. And in some instances, and for instance, in low back pain, we we think, in about maybe 80 to 95% of the cases, we don't know what's going on. So we're pretty sure that the risks are mechanism, perhaps are quite complicated. One there has multiple factors that are interrelated, but there's probably something. So that's really difficult to study. Again, consider consider, you know, if you were tasked to, to come up with a, you know, a model where you could study this model would be, for instance, an animal model. So not that I would encourage people to go out and, you know, do bad things to other animals. But just, you know, for the sake of the example, let's imagine that you wanted to do an animal model of low back pain, or even a herniated sorry, a groin injury, you could say, in sports.   07:20 If you know, the most basic thing to do would be to create an injury. If you don't want to create an injury injury, what you could do is induce inflammation, you know, inject capsaicin, or put something under the skin or down into the tissues, and that makes your immune system go, you know, make inflammation. And that inflammation makes your nervous system respond more powerful. We call it sensitization, I think many people have heard of that word by now.   07:49 And that's a really good way to create that sensation of pain in humans as well. So we can inject capsaicin again, and people will usually feel pain.   08:00 In that case, that's what happens or that's how we understand what happens in the case of a tissue injury. So when there's a tissue injury, there's inflammation, and we understand that pain. So when the tissue hit healing period, is sort of crossing from what you could say, the inflammatory phase, into the prolific face, pain should go down. And in most cases, that's what happened. But what when the pain persists after the inflammatory phase. You know, from the science perspective, we don't know that. But we still know that this person is in pain. So whether that be an athlete or non athletes, they're still in pain. And in this in sort of the pain research world, we have a definition of pain that doesn't necessitate any type of injury, not even any activation of those, we call them nociceptors. But nociceptive system you could say.   08:53 So we acknowledge that people can have pain and not be Do not be damaged, not be injured, not have pathology. And that's sort of the idea that we are trying to bring into sports medicine as well, which has been over the you know, many last decades I've you know, I've been in in sports medicine or as a sports physio, for 20 odd years and sort of dominating belief. And also perhaps, trajectory has always been sort of the orthopedic sports related and to some extent, also pharmacological approach, combined with and that's important, combined with a non pharmacological physio, perhaps approach. So there's been this interrelationship collaboration between doctors and physios and other health professionals, which is quite unique. As I see it in the musculoskeletal system. We don't see that to the same extent, for instance, for low back pain or neck pain, but sports has done that. But maybe there has also kept people within the realms of sort of orthopedic approaches trying to understand what goes on. It's   10:00 tissues, and why did they hurt, and then when you couldn't find out why they hurt, we've just looked deeper into the tissues, which is, of course, a good idea from a scientistic or scientists perspective, because there are definitely things in the tissues that we don't know today, which will, you know, make us become more aware of what goes on, you know, as, as late as in the beginning of October, wasn't it where the Nobel Prizes were given out, there was given a Nobel Prize out for the person, I might do violence to his name, but it's part of Putin, I think he's last name it.   10:36 I didn't, I suppose a Putin or something like that. I do apologize for not being able to pronounce it. But he got the Nobel Prize was shared the Nobel Prize for his work on a peer to two receptors, which is a quite new phenomenon and sort of the longer perspective, but it might learn us over time, why could movement hurt? Which is something we don't know today? So if there's no sensitization, why does it hurt to be moving? And that's really interesting. But again, coming out in the clinic, we don't know enough. So we will have patients in the clinic where we simply do not know why they hurt.   11:14 And you could say that doesn't matter. We can call it anything. But then if you take a clinical look at what goes on what happens again, if you look at the signs, what does it mean, when people are hurting, and they think they're injured? They This is what a percentage again, they seem to be thinking that they're being in pain is the same as being weak. If you're weak, you're not, you know, you're not allowed to be in on the team, you might lose your position. So it has a lot of negative connotations. And I mean, that in itself is wrong. But what if it's based on a misconception that just because you're hurting, you are also injured? And couldn't we help people who are hurting with their pain,   11:59 just as well as we could if they are injured with a tissue injury. So what we are saying is that the two are different. They're both real, they should both be addressed. And they're not, they're not opposite ends of a dichotomy, you will have injury and pain in one end, but you will have pain without injury on the other end. So we need to pay attention to both of them separately. Yeah, it's because sometimes a person has a pain problem   12:29 may not be a specific tissue problem, but they have a pain problem. And so this pain problem may, like you said, cause certainly a an athlete to catastrophize. And to really play out to the point where maybe now they're fearful to get on the pitch or the court or the field. And so where does that leave us as physio therapists when it comes to their care? How do we help manage someone, or I should say, help someone manage their pain in order to play their sport, knowing that their every time they go out and play, they're not compounding, quote, unquote, tissue damage?   13:14 Yeah, and interesting, let's say someone has the perception that their tissues are injured, and every time they move, that's a sign of their tissue injury, or even when they hurt more, the injury is bigger, then that person, I mean, if that's a person like me, I would think that I should do something about that injury so that I don't hurt. But pain is always a symptom of something underlying it. Whereas we know from pain research in for instance, low back pain, that pain can in itself, be the disease, what the ICD 11 is now describing as chronic primary pain. So you can have that in your body, you can have it in your tendons, you can have it all way where your tendons are, you can have it where you know, where the bones are, where the where you feel the muscles are. And it's the pain itself is the problem. So rather than looking specifically at a tissue, which needs strengthening or some sort of treatment, then we can look at the person and say, What is it really that you need? A very, very simple example here, which is unlikely to be, you know, the case for everyone. But let's imagine we have someone with knee pain. And the thing that happens is that when they start running, their knee pain gets worse. But if they've been running for a kilometer, or two kilometer or miles, whatever, you know, whatever metric you use,   14:40 then the pain might be the same. So it sort of comes from nothing to let's say, five in the first mile, and then it stays at five, maybe six, and that person wants to run two miles perhaps. But what's the problem in that? I mean, the problem of course, is if pain in this case is a sign of an injury   15:00 that we should attend to. So we need to understand that it's not an injury.   15:06 Once we've done that, why not help this person, deal with the pain and maybe deal with it when they run, just like we would say to someone, if they have, again, back pain, for instance, and they have pain when they work, but their pain is not necessarily worse when they work, should they not be working? I mean, of course, if, if your pain can go away by two days of rest, and graded exposure, that's fine. But in some cases, and they're not as rare as I think most people believe they are, that we just need to work with that person and help them do what they need or want to do with that pain. And why is that, you know, of course, it's not the optimal it would be much nicer is if we would just kill the pain. Or if they could kill their own pain. But we're not there yet, we are still working to get it. And we're not giving up, there's a lot to do. But currently today, and tomorrow, we need to help people work with their pain, that's the best thing we can do now, and and, you know, giving people that agency to actually manage their pain. So in the case of the runner before, maybe the best thing we can help them do is share with them ideas and make them take agency over their pain by you know, using perhaps a cold pack or heat pack or a rest regime or watching you know, something that takes off their mind of their pain for a minute look at you know, watching dope sick on Disney, whatever they need to do to get their mind off, you know, the pain that they have, so that they can recharge, and they can be as you know, their normal again, before they go out for another run. So all of these things would make absolutely no sense if we didn't acknowledge that pain in itself is the problem, because it's not helping anyone's tissue injury, if there was a such to become better. So again, that's the infographic in its essence is that on one end, you use those inspiration to how to manage pain, what that means and how pain is influenced. And on the other side, you will have tissue injuries, and how to manage that, for instance, loading. In sports medicine loading is a big issue. It's probably the one thing that you know, everyone is doing when you're rehabilitating some someone after an injury or pain. But pain doesn't necessarily necessarily sorry, pain doesn't necessarily respond to loading. So you can have the same pain, whether or not you're loading. But there could be tons of other things such as the way you think about your pain, the way you respond to your pain experiences you've had before the context your work in. So you can run in one context without too many pains or problems. But in a completely different context. For instance, when you do a competition, or if you know, if you need to do something, because that's the bar to get onto the competition you want to do, then pain can be a much, much bigger problem. So we need to understand that context of beliefs and experience really influences pain, whereas loading may not. But it could have caused, but it doesn't have to. So pain is a much larger, much more complex topic of which we still don't know too much. We do know quite a lot. And as long as there's an injury, we understand the pain that goes with it. But when it comes to these pains that are there by themselves, the ICD 11 type chronic primary pain, then that's the type of pain that we you know, we've really, we don't have the sort of blueprints on that. So we can't help everyone. And we can't say this is right for you or wrong for you. We need to do individualized care for all of these people and help them find the best tools to support themselves. Yeah, and I think that was something that people who weren't at the conference and kind of reading through tweets,   19:08 that certainly brought up some questions, one of which was the pay mechanism, no sub plastic pain, where we can't fully explain it. And so then there was a question of, we can't fully explain it, why even bring it up? So I'll throw it over? Yeah. It's, again, it's a good question. And especially if you're a clinician, why would you use it, though, they're basically what they are. They're ways that scientists understand the pain. So again, imagine you're standing at one end of the road and you're looking at the other end by the end of that road, a very long road, you have pain. And then the way the place you're standing at is how you explain how to get to that end point. And if you're standing at a place and you know there's a tissue injury, there's inflammation. We understand that as   20:00 Part of the normal normal nociceptive system. So we would call it nociceptive pain.   20:05 Underneath that there is a range of different changes and modulator modulators of the system that leads to, for instance, peripheral and central sensitization. So they're not unique to anything that is there also in nociceptive pain, but it's induced by, for instance, a tissue injury.   20:24 If you have a different tissue injury, the one that hits your nervous system, we call it a neuropathic pain, so you have a nerve damage, along with pain, we call that a neuropathic pain. So again, you're standing on this long road, but in this case, the road itself is sort of gone wrong. But we still know what's going on. Again, if you want to use the study metaphor, you can, you can design a study, you can just take an animal, and you can compress or do something to the neurons, and you can create this similar pain experience, or at least the behavior that it assimilates this pain experience in animals, other than humans. And then finally, we have this new, we call it a mechanistic descriptor knows a plastic pain, which is much much blurrier. And perhaps it's more like a waste bin. As it is now it's, it's where you would say we acknowledge that people have pain.   21:24 And a lot of things goes into it. So just like in nociceptive, and neuropathic pain, sensitization is definitely part of it. It could also be part of the note of plastic pain. But unlike the other two, you don't have the inflammatory response that could explain it. And you don't have the neuron damage that could explain it. But the person experiencing the pain could have a similar experience. So what is it really? How do we a scientist tried to understand that pain, and that's what most plastic is at the moment. And there is a little bit of debate that whether or not you can actually use algorithms to diagnose or, you know,   22:09 maybe   22:11 justify at least that you yet the person in front of you are experiencing this type of pain mechanism or pain related to this mechanism, we definitely have a very, very, you know, widely embraced algorithm used for neuropathic pain. And some very, you know, high profile researchers has just recently come up with a paper suggesting that the same can be done for noisy plastic, sorry, for noisy plastic pain. But personally, I don't think we should, because unlike so nociceptive and neuropathic pain, they're both well understood by signs and we can separate them, they are different. So you can have both, but you would have different qualities to it, there'll be a nerve damage in one and there wouldn't in the other, for instance.   23:02 But we don't know about most plastic pain. So it could be changes in your nervous system, it could actually be, you know, increased responsiveness of your immune system in interaction with your nervous system. It could all be all of that. So it could be sensitization, but it could be tons of other things as well. So how can we start when we don't know what the mechanism is? How can we start to clinically differentiate? So I don't personally think we're quite there yet. Although I like the idea that maybe we can at some point, what I'm afraid of, if we start to use these clinical descriptors, sorry, these mechanistic descriptors, as clinical guidelines, is that what happens to the people who are now embraced and validated in their pain experience by scientists saying, Well, we know what you have, it's mostly plastic pain. But what if we made up an algorithm? And we used it for people? What about the people who fall out? Do they need, you know, a fourth descriptor? Are they just weird? Do they have unknown pain? Are they back to the psychogenic pain? So we've come quite a lot of way, embracing the clinical aspects of pain into the pain research world. And I think using you know, these three mechanistic describers, as you know, trying to really differentiate them and create perhaps treatments that is directed at either one. At this point, or especially anatomy is specifically directed at most aplastic point pain. Just because we know something doesn't mean we know everything.   24:34 So yeah, that's that's the issue. There was a bit of off topic. I'm sorry. But it's such an interesting topic. And I think that the most important thing about no plastic pain is that it is a construct that researchers use. It's embraced by the IRS, the world pain Association, the pay Research Association, and it validates that all pain is real. And there's, you know, it's still real even though we can   25:00 not understand it from a science perspective. I think that's important. And I would hate to see that we misuse it. To say that some really has it. And some don't. Because that's just, you know, that'll be I'll be sad. Yeah. And and can't one's pain experience?   25:20 Everybody's pain experiences individualized. But one person's nociceptive pain experience may be exactly like someone's neuropathic pain experience or someone's no support plastic pain experience, because it's in so then to categorize the persons Oh, well, my pain is like this. So it means this, so I can't have this. And I think it can get people a little confused. And when you have more long term or chronic pain, it's like, the the pain is there. Pain is pain. Some people need the the label or categorization, but like you said, Is it is it really helpful? And it kind of leads me to the one of the last slides in your presentation, and it was like pain prevention is well intentioned, yay, thumbs up, sometimes unrealistic, and possibly unhelpful? Yeah. So do you want to expand on that a little bit? And what you meant by that slide?   26:23 Yeah, that's slide was. That was actually the whole idea when, when I started to talk with Dr. Kieran Sullivan about workshop is that we see a lot of people, athletes. So both of us are still clinicians. And we see and we hear stories of a lot of athletes who have been treated and treated and treated again, or assessed and assessed and assessed again. And again, because they have a pain that we cannot objective eyes. So we can't find anything on scans or blood samples or clinical tests. So rather than acknowledging that pain can be there, so let's say nosey plastic pain, those are, there's something going on in your nervous system that gives you this pain, and we don't know what it is, we can't see it, that will be the, I would say the proper thing to do. So rather than doing that, we tend to keep sending people off. And it ends up with too many scans and too many assessments and too much worry. And in that process, we know the athlete is unlikely to be performing optimal during that period of time. Partly, of course, due to the pain, but also due to the insecurity to you know, if nothing is found on the first scan and a second scan that at some point, they probably start to wonder whether or not they're completely broken, or if it's a really rare disease or even if it's gonna kill them. And these are things that we might feed into by overtreating. So, of course, we should try and prevent pain. Statistics suggest that that's quite tricky. And we, you know, it would be great if we could or even perhaps what we can do is give people tools so they can take agency over their pain when it flares up. But having this idea that when you are in pain, you are damaged is very unhelpful. We think. So we really wanted to highlight the fact that sometimes pain is is that it is pain is still disabling. It's that feeling of pain, and nobody can feel whether or not their pain is due to an injury or not, it feels just like pain. But we identify all pain as if there was an injury, when in fact, it's it's quite unlikely that the majority of cases would have an injury attached to it. And just coming back to one thing you said before that it was quite subtle, but I think it's a really important point you made there, which is that all pain is real, it's always experienced as pain, whether that be of any of the descriptors or for any reason, it always feels like pain, and the quality that we attached to it, it's a muscle pain, or it's whatever is something we do it's our perception is our belief about what the pain is. And maybe that's what we need to also address in sports medicine is that disbelief about what your pain is caused by is a potential target for treatment, we call it psychotherapy or psychoeducation. Or, you know, and that doesn't have to be paying neurobiology education that's unlikely to be better than any other good education and listening and embracing. So there's a range of different interventions that are combining or embracing the fact that you need to talk to your athlete or your patient and help them make sense of their pain in a way that gives them empowerment will give them agency over their pain.   29:51 And something that came to my mind as you were saying, oh the pain it's it's in the muscles, the tendons, the bone, it's the joint and can't that all   30:00 So be a coping mechanism of the athlete. So they may say, oh, it's, you know, this is just a muscle strain. It's so it's their way of coping of saying it's nothing I can continue to to move forward. Do you know what I mean?   30:16 Yeah, absolutely and, and I think as long as it empowers them, if you know if you have the pain that you again, think about Dom's, or delete onset onset muscle soreness. That's an empowering pain, isn't it? I mean, I have Dom's, I was doing exercise yesterday. And if you really want to, you know, be good at something, then perhaps Dom's is your sort of reward even, even though it's painful, it should be awful, it might actually feel like a reward. So in that case, you interpret the pain that you are experiencing, as a reward or something you want it to happen. And I definitely think that some would say that this is just a minor thing, again, think about general health and male, you know, older men, like myself, tend to not go into, you know, the GP for what we consider to be minor things, but in fact, that might be killing us. Because we say, no, no, that's nothing, no, that little spot, that's not cancer. And I would say I don't, I don't think it's a lump, it's probably just something that's here this week. So we should be much better at listening to it, and giving it you know, you know, the quality or the, you know, the meaning that it should have. So it's on both ends of the spectrum, sometimes we neglect that pain is there for a reason, and we should listen to it. And sometimes we should understand that the pain is there without anyone really knowing what it is. But it doesn't mean just because we don't have a universal tool that can treat all pain, which is what we say when we say there's no treatment for chronic pain. In fact, there's quite a, you know, a variety of well established evidence based treatments, that can reduce pain, but they need to be targeted, and individualized so that each one find their, you know, their way through their pain. And of course, one way to do it is to go to everyone you know, who has a, you know, any background in health and ask them what to do, probably the best thing to do is to talk to someone who knows about pain, and then get advice about what seems to be working for you. Embracing that the one in this case, the athlete with pain, they have perhaps one or two years experience with their pain, they know much more about their pain than I do. But I can act as a consultant, I can listen to them, I can help them structure, I know what you know, patterns out there. So I can listen for that. And then together, we can try a few things. But over a period of maybe weeks, they should know as much as I do about pain generally, but with their focus on it. And and that should give them you know, with a bit of practice the ability to find out what works and what doesn't. And rather than thinking of pain management, in the case of a sports related pain, as an on off thing, so either it works and the pain is not there, or it doesn't work, it only reduces the pain a bit, we probably should be realistic and say that most people can have reductions in their pain, perhaps 2030, perhaps more percent. But the majority of people will experience from some sort of management of pain reduction. But it doesn't mean that the pain is going to go away. And it doesn't mean that thought is going to be absolutely pain free. But we need to find a balance between the two so that we understand when pain is actually a sign of either injury or possible injury. But also understand when pain is something that might just be part of life. And the best way we can do the most evidence based approach to that would be to find your way through it, you know, in perhaps, together with a   33:56 clinician of some sort? Yeah. And my gosh, I was just gonna say as we wrap things up, would you like to put a bow on it on your talk and at at the IOC conference and to this talk today, and I think you've just done it? I think you'd beat me to the punch. But is there anything else that you'd like to add?   34:18 That, that you want the listeners to take away?   34:22 I think the most the thing that I always want to stress is that people who meet or live their life with pain, they're experts. And we as clinicians, and researchers should embrace that much more. So the patient as an expert, is something I feel deeply about.   34:44 And I think we should be able to understand that as you know, as a scientist, you might know, you know a lot about groups.   34:51 As a clinician, you might know a lot about people who come to you with a similar symptoms, but as a person who have pain, you have two or three years   35:00 perhaps have experience with your own pain. And I think the best way to you know to get all of these together is by everyone being aware that we have different aspects and different competencies, and we should bring them together. And I think that's the best we can do right now. But still, don't give up hope we should definitely try and cure all pain from the planet, but maybe not by opioids. Yes, I would agree with that. And now more and where can people find you if they want to learn more about what you do? Read your research, where can they find you?   35:39 I think the easiest way would probably be to either find me on on Facebook, or go on Twitter. My handle is at MH underscore DK. And I'm also on Instagram. It's at MH DK underscore Dr. Moulton. Whoa.   35:57 Excellent. And one last question. It's a question I asked everyone is what advice would you give to your younger self, knowing where you are now in your life and in your career?   36:09 Remember, things take time to cope with sometimes you have a good idea. And you can't imagine, however, too, you know, you hear something and everyone else knows it. And you're like the only one who doesn't get it. But give it a bit of time. And, you know, I we have a saying that Rome wasn't built in one day. I think it goes in English as well. So give things time and and make sure you stick to good ideas if you think they're good, but also leave them if they're not.   36:37 Excellent advice. So Morton, thank you so much. This was a great conversation. And like I said, your talk at IOC was really wonderful. There's if people want to see his slides, there are tons of tons of tweets with all of his slides and great descriptors. You could go to IOC p r e v 2021. That was the hashtag for the conference. And as you look through, you'll see a lot of tweets from his from Morton's workshops. So thank you so much for coming on and expanding on that for us. I appreciate it.   37:13 Amazing. Thank you. It is a huge pleasure and privilege to be here. Thank you, Karen. Thanks so much. And everyone. Thanks so much for listening, have a great couple of days and stay healthy, wealthy and smart.

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