Podcast appearances and mentions of Jonathan Davis

American singer, songwriter and musician

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Jonathan Davis

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Latest podcast episodes about Jonathan Davis

Business Trip
Transcranial magnetic stimulation (TMS) paired with ketamine: inside a clinic offering a frontier treatment

Business Trip

Play Episode Listen Later Nov 29, 2022 50:05


In this new episode of Business Trip, we interview one of the first clinics to offer a protocol that includes TMS (transcranial magnetic stimulation) and ketamine infusion.TMS is a non-invasive procedure that sends electric currents to specific regions in the brain, including areas linked to depression. It's FDA approved and has been gaining adoption as clinical studies demonstrate safety and efficacy in treating mood disorders.So why the combination? TMS takes a local approach while ketamine stimulates global brain communication, according to Scenic City Neurotherapy founder Charles Miller. There's little data about the combination of TMS with ketamine, making this conversation quite interesting as Miller shares the protocol, science, costs, and treatment outcomes.Credits: Created by Greg Kubin and Matias SerebrinskyHost:  Matias SerebrinskyProduced by Jonathan Davis & Zack FrankFind us at businesstrip.fmFollow us on Instagram and Twitter!Theme music by Dorian LoveAdditional Music:Distant Daze by Zack Frank

VSiN Best Bets
VSiN Big Bets | November 29, 2022 | Hour 1

VSiN Best Bets

Play Episode Listen Later Nov 29, 2022 44:50


In hour one of VSiN Big Bets hosts Dave Ross and Amal Shah preview the upcoming FIFA World Cup matchups between the United States at Iran, and Wales at England, plus check out the odds on who will be the first pick in the NFL Draft. Also on the show is, Jonathan Davis, Host of Ice Cap on SiriusXM NHL, as they preview tonight's NHL games.See omnystudio.com/listener for privacy information.

Worship and Tribute Nerd Podcast
Episode 3 Turk me off

Worship and Tribute Nerd Podcast

Play Episode Listen Later Nov 21, 2022 167:17


Timecodes0:00 - Intro12:43 - Leftover Halloween Stuff (Halloween costumes, handing out drugged candy, and more!)24:06 - Thanksgiving Food we love34:01 - Awkward Thanksgiving Moments40:14 - Are there any Thanksgiving movies?52:59 - Deep Frying Turkey is Dangerous 55:53 - Overrated Thanksgiving Food1:00:10 - Emo Cardi B & Skrillex Talk1:06:12 - When We Were Young & Sick New World Talk1:25:50 - Jonathan Davis of KoRn starts a pet leash company?1:31:17 - Sick New World (Continued Conversation)1:33:26 - Artist VS Art (INTRO)1:36:40 - Kanye West is Wild (Artist VS Art)1:56:29 - Dance Gavin Dance and Tilian Pearson (Artist VS Art)2:01:35 - As I Lay Dying and Tim Lambesis (Artist VS Art)2:17:28 - Bands/ Artist That May Have Been Forgiven? Norma Jean, Michael Jackson, Elvis, Alpha Wolf, Dealer, Lorna Shore (Artist VS Art)2:23:58 - Aaron Carter Death2:31:48 - R Kelly & Pantera (Artist VS Art)2:33:35 - Outro 12:35:13 - He Is Legend New Album "Endless Hallway"2:41:46 - Outro 2Send us an email with topic suggestions:nerdingoutwithrickshaw@gmail.comFollow all the social media for updates!Instagram:https://www.instagram.com/nerdingoutwithrickshaw/Twitter: https://twitter.com/nerdingoutrickFacebook:https://www.facebook.com/nerdingoutwithrickshaw

Hockey Central @ Noon
A Look at the Pacific with Jonathan Davis

Hockey Central @ Noon

Play Episode Listen Later Nov 16, 2022 19:14


Jeff is joined by Jonathan Davis, host of the "Ice Cap" on SiriusXM radio, to talk about the Vegas Golden Knights' early success, why he doesn't believe the Los Angeles Kings have taken the next step forward, and if the Seattle Kraken are as good as their record shows. The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the position of Rogers Sports & Media or any affiliates.

Locked On Horned Frogs - Daily Podcast On TCU Horned Frogs Football & Basketball
Can TCU keep their perfect season alive against Texas on Satuday?

Locked On Horned Frogs - Daily Podcast On TCU Horned Frogs Football & Basketball

Play Episode Listen Later Nov 10, 2022 39:40


Jonathan Davis from Locked on Longhorns joins the show to preview TCU Texas this weekend. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Business Trip
Perspectives from Christian Angermayer, investor and founder in psychedelics

Business Trip

Play Episode Listen Later Oct 27, 2022 42:34


In this week's episode, we chat with Christian Angermayer. Christian co-founded atai Life Sciences and was an early investor in Compass Pathways -- two of the first companies commercializing psychedelic medicine. Christian also launched a fund dedicated to mental and neurological health called re:Mind, is an investor through his family office Apeiron, and co-founded two longevity biotech companies.Credits: Created by Greg Kubin and Matias SerebrinskyHost:  Greg Kubin and Matias SerebrinskyProduced by Jonathan Davis & Zack FrankFind us at businesstrip.fmFollow us on Instagram and Twitter!Theme music by Dorian LoveAdditional Music:Distant Daze by Zack Frank

The Mistress Carrie Podcast
The Mistress Carrie 'Sit Rep' 10-24-2022

The Mistress Carrie Podcast

Play Episode Listen Later Oct 24, 2022 5:23


This is the Mistress Carrie Situation Report! The 'Sit Rep' your daily Entertainment headlines, Industry Info, and everything ROCK, all in under 5 minutes! 10-24-2022. The Mistress Carrie Podcast, a proud member of the Pantheon Podcast Network!  Type O NegativeGuns N RosesQueenKornJonathan DavisJudas PriestTicketmasterTina TurnerIron MaidenNew films in theaters this weekNew Releases This Week Hard Rock and Metal ReleasesFind Mistress Carrie online:Official WebsiteThe Mistress Carrie Backstage Pass on PatreonTwitterFacebookInstagramYouTubeCameoPantheon Podcast Network

Peace of Christ - Sermons
Oct 23, 2022 "Pray by Sam Smith" Rev. Dr. Jonathan Davis

Peace of Christ - Sermons

Play Episode Listen Later Oct 23, 2022 18:20


From week two of our series, "Songs that Bring Us to Spiritual Places" Text:Sirach 35:12-17

Passive Income, Active Wealth - Hard Money for Real Estate Investing
243 Hot Topics In Real Estate: Small Dollar Lending, Investing With Family & Friends, Raising Capital

Passive Income, Active Wealth - Hard Money for Real Estate Investing

Play Episode Listen Later Oct 14, 2022 32:07


https://youtu.be/peAAjhtlKxA   Bill Fairman 00:00:02 Greetings. Hope everyone is doing well. We are actually live with this show. Maybe you didn't know this, but last week's was not live. It was prerecorded because we were all out of town. So we're going to talk about several things today, being a small dollar lender, investing with family and friends, and raising capital. And we'll get to some examples right after this. Hi everyone. Welcome to the Real Estate Investors, Show Hard Money for real estate investors. We are Carolina Capital Management. We are lenders in the southeast for real estate professionals. If you have a project you'd like us to take a look at, go to carolina hard money.com and click on the apply now tab. If you are a passive investor looking for passive returns, then click on the accredited investor tab. Don't forget to like, share, subscribe. Hit the bell. And don't forget about Wednesdays with Wendy.   Bill Fairman 00:01:35 I think this one is so short now that we should just play that twice Next time. Not now. Next time. Yeah. That's funny. So Wendy devotes 30 minutes per person each Wednesday. Talk about anything real estate, there's the link, it will be over in the chat, which on the right side of the page or underneath, depending on the platform that you're viewing us from. And in case you were wondering, yeah, somewhere in the same shirt that's been on this show three times in a row. I don't think anyone was wondering that, however, but way of telling yourself it's very, I'm being very self-conscious about it. Yes, it's been watched. It's a nice shirt. Yeah, you can see the crease. Thank you. Yeah. Anyhow, let's do some breaking news. You man. No.   Bill Fairman 00:02:41 So today, very important. CPI numbers came out and that stands for consumer price index. This is the third quarter reading and this determines people that are on fixed income social security on how much they will get raised for next year. Yeah. And it came in at eight point, excuse me, 8.2%. So we have inflation of 8.2% year over a year. The core number for month to month was 0.4%. So it is higher this month than it was last month. You pull out energy and food, which as we all know, that is really the most expensive and the most important.   Jonathan Davis 00:03:28 So that is the core.   Bill Fairman 00:03:29 It's still 6.2%. I mean that's, that's pretty high. Yeah. So that means everything is going up. So guess what? The stock market didn't really appreciate that this morning and I haven't looked at it before we came on the air today, but we were below 2,900 on the Dow, you know, before I came to work. Yeah. On the, on the future's market. So those folks that were hoping for the Fed to maybe postpone or maybe do a 50 basis points raise in the interest rate, Nope. Be prepared for another 75 basis points. Oh   Jonathan Davis 00:04:10 Yeah.   Bill Fairman 00:04:10 That's all I can say.   Jonathan Davis 00:04:11 It's coming. And yeah, I mean they have stood by, you know, bringing inflation down and as you know, these numbers continue to, to set where they are. If they do what they say they're gonna do, it's, it's gonna be 75 or even, you know, one full, you know, percentage.   Bill Fairman 00:04:29 Well, they were too slow to act because they said it was transitory. The rest of us knew it wasn't.   Jonathan Davis 00:04:34 Oh gosh. Yeah.   Bill Fairman 00:04:36 And then on top of that, you've got our, not just our government, but governments around the world are counteracting what the fed's trying to do. Every time they try to slow stuff down, the government gives out more money and more money. They give out more. It's stimulates activity. And you can't lower inflation if you have an activity being, I mean the whole point of raising rates is to have what we call demand destruction.   Jonathan Davis 00:05:09 Yeah. You want, I mean, right now they want to, you know, lower the demand for houses and also, you know, and raise the, you know, unemployment. Yeah. I mean that's, that's the goal.   Bill Fairman 00:05:22 Well the, the target is housing and why do they target housing? Number one, it's one of the largest expenses, but all the other products that are connected to housing, furniture, H V A C, all that stuff. Yeah. Building materials. There's a lot of things that are attached to housing that if, if you slow down housing, you're gonna slow down a large chunk of the overall economy. Correct. Yep. That said, I don't want anybody to freak out people. Were still fixing and flipping homes and making a profit when home. We, we still hadn't figured out if we were at a bottom yet after 2008 crash.   Jonathan Davis 00:06:11 Yeah. I mean like, like we were talking about with a, a room full of real estate investors last week. I mean, or real estate lenders rather. We're really excited. We're excited for our partners and ourselves and our clients because opportunities will now be more readily available.   Bill Fairman 00:06:33 Yeah. And as a selfish note, businesses like ours and we're, we're talking to other private lenders, hard, hard money and private lenders that are balance sheet lenders like us, we are all going to capitalize on this because the short-term lenders that got in bed with the institutional financing people who are pulling back because interest rates are going up and getting nervous. Yeah. That's not affecting us. Cuz we hold our own loans. Yeah. It's really affecting them. We, we had some information that there are some people in our area that are gonna have to start laying off a bunch of their, their folks because they can't get the capital anymore.   Jonathan Davis 00:07:19 Yeah. I mean it's what we've been talking about for a long time. Scaling responsibly and you know, not building a machine that you have to feed and when market shift there's nothing left to feed it. Right.   Bill Fairman 00:07:31 And I got one more breaking news before you get to some Okay. Multifamily stuff today.   Jonathan Davis 00:07:38 Oh, look at that   Bill Fairman 00:07:39 Is our man, Scott's birthday. Happy birthday Scott Fatten   Jonathan Davis 00:07:45 Since, since he   Bill Fairman 00:07:46 Wonderful smile   Jonathan Davis 00:07:47 Since he runs the, the video we had to print something off to stay incognito. It's funny. Happy birthday. So yeah, well wanna talk a little bit about multifamily. So real page has been keeping track of absorption or you know, you know, how much, how many units are being rented by the quarter. And they've been doing this for about 30 years and this third quarter of marks the first quarter ever in that 30 years where there was a negative absorption rate. What does that mean? It means that there's just less people in the third quarter renting apartments and getting those apartments. And so typically why is that? Why is that anomaly typically third quarter is very strong. Everyone that's, that's a strong lease up period. Fourth quarter is usually the, the, the, the, the ti you know, where it trails down. So this is quite an anomaly. We'll, we'll keep track of it. That being said, you know, vacancy is still 4.4% nationally. So it's, you know, vacancy's really low. It's just, we've had such a run up to this point that,   Bill Fairman 00:09:07 And that's what I was gonna ask are, are we getting to a point where there's over saturation in we're   Jonathan Davis 00:09:13 We're building, we're a building towards that. Yes. That will con I think that's a trend that we will continue to see for the next few quarters.   Bill Fairman 00:09:21 And if you think about it too, we have an oversaturation of a class Yeah. Properties too. So, so these are the brand new luxury type apartments. That's what's been being built over and over again. And as the economy slows down and people start spending less money Yeah. They're going to start going towards those B and and C class properties. Yeah. Cause they can't afford that rent.   Jonathan Davis 00:09:50 Now the other side of that is we're seeing, you know, rents kind of where they're, they're around 20% year over year of last year. Now we're running in the nines, which is still an increase. It's just, it, you know, it seems to have plateaued and, and coming down now everywhere except Florida. And that is due to, you know, most recently the, the hurricane there. Sure. There are several instances I was, you know, of people renting two bedroom, one bath houses for $5,000 a month. Wow. I think it's, it's, it's crazy. During one, they   Bill Fairman 01:10:27 Weren't damaged by   Jonathan Davis 01:10:28 The hurricane. Yeah. Because it's because people are scrambling to find shelter and Yeah. So everywhere, unfortunately   Bill Fairman 01:10:35 A lot of parts of the Florida that got hit are second home. We call 'em snowbird homes. So I, about half the population that's in those areas that were hit are only there in the winter.   Jonathan Davis 01:10:50 Yeah.   Bill Fairman 01:10:51 So it's not like it's their primary residence. I don't think it's gonna be as bad as it could have been in other areas because you know, the housing that was there was in most cases wouldn't occupy it anyway. Yeah. And as much as we like to get into the warm weather in the winter, you, you may have to stay home this winter until you Sure. Get your place fixed up. But if your place was not damaged, then you can still rent it out to others who need a place. Not to mention all the contractors and stuff that are coming in the area. Sure. They're gonna need the place to live Always. Yeah. While they're working down there. I know when, that's where Wendy is right now, she carried a, I think they have like a 32 foot travel trailer and she had to park it at a campground that's an hour away from Englewood. Oh wow. Because you, there was no places available any closer.   Jonathan Davis 01:11:46 Well let's jump into, I know we wanted to talk about, so Oh   Bill Fairman 01:11:50 Yeah. So our theme this month is how to do small dollar lending, investing with family and friends and then raising capital and we're gonna go over some of these items and then later on in the month we're gonna have some guests that are gonna be coming on that have experience in this and they'll give us some case studies on how they did it. Cuz the one thing I love about the real estate business is that there's a problem that is solved, whether it's on the lending side or the acquisition side or raising a capital side. And there's,   Jonathan Davis 01:12:33 That's the, you know, with everything that, that anyone does in, I think in any arena you don't look at how much can I make or how much will I pay? It's what problem or what pain is being solved or what pain or problem is being caused and how do I solve that. So if you can look at it that way, that's usually the, you know, better way to go about it.   Bill Fairman 01:12:54 Oh, I'm sorry, one last thing before we get onto this. I did see a piece yesterday, I believe it was about this second quarter for 2022 was the smallest percentage of fix and flips since 2009. I think it was.   Jonathan Davis 01:13:15 I believe it, It have to be. Yeah. However,   Bill Fairman 01:13:18 It was the highest profit of any time since then.   Jonathan Davis 01:13:22 The, the the net game per property. Yes. Yeah.   Bill Fairman 01:13:25 So two things to, to consider with those numbers is that there are fewer, we'll call 'em non-professionals doing it now. Yeah. So because it's harder to find inventory and things are questionable on how the future's gonna look. I, I think you're professionals that have good marketing, those are the ones that we're able to find the properties and, and get 'em fixed up and sold. Yeah. Secondly, excuse me, the reason they're making the most money is because, you know, the market in the second quarter was still pretty good. Yeah. Right. Oh yeah. I mean it was still about seller's market that said, I hate when they always come up with these fix and flip numbers because they only go by what they paid for it and what they sold it for. They have no idea how much anybody has put into it cuz they don't have those numbers. So how do we know they really profited more? We don't,   Jonathan Davis 01:14:30 It was the potential of profit is that   Bill Fairman 01:14:33 They just sold it more than what they paid for it originally.   Jonathan Davis 01:14:35 Yeah.   Bill Fairman 01:14:36 So, Alright.   Jonathan Davis 01:14:37 I mean there was more demand. Yeah. The, the highest, you know, appreciation. Yeah. So they had the, Hey Scott, happy birthday.   Bill Fairman 01:14:51 Have a birthday.   speaker 4 01:14:52 Happy a birthday. Thank you. Sure will. Get me out of here.   Bill Fairman 01:14:58 So that's funny. Gotta love live streaming, don't you? Yeah. Okay. So let's talk about the, the first one that we discussed, the small dollar lending. There's a lot of people that have small, say a Roth account that they're just getting started with their self-directed retirement fund and they have no idea how to get that money and put it to work.   Jonathan Davis 01:15:21 Yeah.   Bill Fairman 01:15:22 So one example is networking. If, you know, if you have a good network, you know people that need money, you know, other people that lend money Yeah. You can put that to work fairly, fairly easily. So I I'll give you an example. Let's say, you know, someone who needs a hundred thousand dollars loan,   Jonathan Davis 01:15:43 That's a small dollar amount.   Bill Fairman 01:15:45 No. Oh, you need somebody, you're no, you know, someone that needs a hundred thousand dollars loan.   Jonathan Davis 01:15:49 Okay.   Bill Fairman 01:15:50 You know, another person that probably has $99,000 they could lend if they wanted to and they wanna put that money to work. But you have a, you know, a Roth IRA that maybe has a thousand dollars in it or it might have six or $7,000 in it, but you don't have to use all that money. So how, how can you put that money to work or at least jack that up quickly?   Jonathan Davis 01:16:15 I feel like you're gonna make a VUL on reference. No. Oh, okay. Go.   Bill Fairman 01:16:20 So because you be, because you become the deal architect.   Jonathan Davis 01:16:23 Okay.   Bill Fairman 01:16:24 You have the borrower that needs the money, you know the person that has most of the money. Let's assume an interest rate of 10%. Okay, well the person that has money that's not doing any of the work,   Jonathan Davis 01:16:37 Can we do 12%? And that's really easy math for everybody.   Bill Fairman 01:16:40 Okay. Whatever.   Jonathan Davis 01:16:41 All right. 12%.   Bill Fairman 01:16:42 All right. So it's 12% interest rate,   Jonathan Davis 01:16:44 1% per month. Crazy.   Bill Fairman 01:16:48 You as the deal architect, you put the deal together, you get the, the friend who has, we'll just say 99,000. Okay. And then you have a thousand that you're putting in from your account. Now how is that a good deal for you? Well, you charge the actual interest rate is 12%, but the person that has the 99,000, they're happy getting 10, right? Yep. You also charge a couple of points origination on this thing. Yep. And maybe you get two or there's two charged total. You get one and the person that has the $99,000 loan gets one. Okay. Right. It's still 2% of a hundred thousand. That's $2,000. Okay. So the thousand dollars that you just   Jonathan Davis 01:17:40 Correct.   Bill Fairman 01:17:41 So now none of your money is at risk.   Jonathan Davis 01:17:44 You've, you've already, you've already made a hundred percent return and you haven't got the first right. Monthly check yet.   Bill Fairman 01:17:51 So as this loan goes on, you're the one collecting the payments, you're sending the 10% part to the person that has the 99,000. Actually you're not sending it to them, you're sending it to their custodian ira, assuming that they also have an ira. Yeah. And then you're keeping the additional 2% of that payment and it's going into your Roth throughout this transaction. So not, not only did you make a thousand dollars because at the end when it pays off, you get that thousand dollars back, plus you made a thousand dollars plus you're making 2% of the payment the whole time and you've only put that little small amount to work. So that's how you put small dollars to   Jonathan Davis 01:18:34 Work. And I know everyone's out there saying, But if I do that, aren't I subject to third party servicing laws? No, you're not because you're in it at a thousand dollars or 1%, you are an owner or a lender in that deal. Right. So you own a lean position and you can service your own debt, which allows you to service the entire loan. Right. So anyone that had that question pop up, which I know several of you did, just wanted to put that   Bill Fairman 01:19:01 In reality, nobody asked that question, but they should, In some states, you're not allowed to service a mortgage loan unless you were a licensed servicer.   Jonathan Davis 01:19:11 Third party just means someone else's loan. Yeah.   Bill Fairman 01:19:13 Unless it's your loan.   Jonathan Davis 01:19:15 Yeah. You are in every state of the United States, you are allowed to service your own loans. Right.   Bill Fairman 01:19:21 And because you have a piece of it, you're not a third party. Yeah,   Jonathan Davis 01:19:24 Exactly. You are a party to the transaction. Right? Yeah.   Bill Fairman 01:19:27 And then, and the other way of doing it is you could just be in second position in, in, in another small deal. But what it, what it boils down to is you still need to have a network. You can do these smaller deals, you just need to have friends that have deals. Yeah. You just need to be the deal architect. You don't have to have a whole lot   Jonathan Davis 01:19:49 Of money. And that's, you know, like that, that's just how it is in, in real estate. And, and most, I think in most things, you know, if you have a thousand, 2000, $5,000, you're gonna have to do a little bit more work to get that level of return. However, that work is going to allow you to get up to, you know, 150 and 200% return on your money and that can grow your small balance IRA or, or whatever investment vehicle it is. It can grow it rapidly. So that was a, you know, a really good, good point, Bill.   Bill Fairman 02:20:22 You wanna talk about investing with family and friends?   Jonathan Davis 02:20:25 Don't do it.   Bill Fairman 02:20:28 Okay. From a banker or from a lender side of things. Yeah. Never, never lend family money because if you, you have to assume you're not gonna get it back.   Jonathan Davis 02:20:39 Always go back to that, you know, setting at the Thanksgiving table. Yeah. It's like, you still owe me $30,000. That's right.   Bill Fairman 02:20:46 But there's nothing wrong with investing with somebody getting equity to a piece of property. At least you know that if something happens, you know, on a piece of property that's worthless.   Jonathan Davis 02:20:57 Yeah. Yeah. I mean, and you, you can jump   Bill Fairman 02:20:59 In. I'm just kidding. Family and friends are the first people you go to when you start.   Jonathan Davis 02:21:05 Especially when you're looking for more like mezzanine prep and common equity. Do   Bill Fairman 02:21:13 You want to explain that, what mezzanine is and common   Jonathan Davis 02:21:16 Prep? Sure. Yeah. So, so you know, we talk about capital stack all the time. So you have, you know, your first lean debt, which is typically like your banks or someone like us that's gonna take a firstly position. It is your, your first lean debt and then beyond that you're gonna have mezzanine debt, which can be a second lean position behind that. Or it can be unsecured or secured by, you know, some other vehicle through the llc. And then beyond that you have preferred equity, which is typically granted to, well you're limited partners in an llc. So you have limited partners and general partners. General partners are typically the operators of the property. Limited partners are the people who are bringing the equity and you, they get preferred equity, which means after the debt, they are the first people to get paid out. And then the general partner has the common equity, which means after the debt's paid, the pre equity's paid, then they make their money. So it's, it's just a waterfall effect.   Bill Fairman 02:22:21 And if you're wondering why it's called mezzanine. Yes. You're still in the building hearing the same concert, you're just doing it a little bit higher up than the Yeah,   Jonathan Davis 02:22:30 Yeah. Good, good reference bill. Yeah.   Bill Fairman 02:22:33 Takes you longer to get your popcorn.   Jonathan Davis 02:22:35 Yeah. So yeah, with friends and family, that's the best way is to do kind of, in my opinion, you know, that that pre and common equity route, just because it's people that you typically know, like, and trust. Right. And you feel comfortable maybe not having a, a fixed lean to a real property. Right? Yeah.   Bill Fairman 02:22:59 And let's cover capital raising very quickly. Well,   Jonathan Davis 02:23:03 That's the best one.   Bill Fairman 02:23:04 Some, some people are really good at it. Yeah. Some people are not. But if you're in the capital raising for any project or fund that you may have, it's all about relationships. People are not going to invest with you unless they like you and they trust that your decision making is competent. Right. Yeah. And it has to be, whatever project you're doing has to be easily explainable and at the same time it's got all the numbers have to work. It's, it can't be kind of one of these projects where if everything doesn't fall into place, you're not gonna profit. It has to have many contingencies that if this happens, we still make money here. If this happens, we still make money here. Yeah. If this happens, we can sell it. If this happens, we hold onto it. Yeah. It's all about   Jonathan Davis 02:24:06 Relationship. It really breaks down to, to each side, you know, to raise the capital, to be the salesman, to tell the story, to know, to know the project. And then the other side is the person who has the capital to be able to look at the story and look at the project and look at the numbers and say, Hmm, that works, or No, I don't think that works. So there's, there's really two sides to it. So if you're, if you're on the raising capital side, you want to know that inside and out. Like the, one of the, you know, I think pitfalls that a lot of people when, when they talk to me about raising capital, when I, you know, when I ask questions, they don't know the answer to them. And not that those are tricky questions. It's like, you should know, right? What are you purchasing at?   Jonathan Davis 02:24:51 What is your run? What run rate? What's the cap rate? You know, if this is commercial or multifamily, what's the cap rate you're buying into? What's the cap rate you're operating at? What's your profor cap rate that you're exiting at? If it's single family, you know, what am I buying this for? What are the comps in the area? What are, you know, what are the rents if something goes bad, you know, the what the project that we're taking on, do the rents, the market rents that area cover this. If they don't, what's that rate of return going to be based on those rents? To know all of those things and to be very transparent and, and open and forthright with them. Like that's the, that's the easiest way because when someone talks to me or when I talk to someone else, like when you know these things, it doesn't matter. Like I'm not saying like, let's make 24%, we're gonna just crush it. Right? Like people aren't looking for that because it's their, it's their money that's you hard earned or you know, whatever the case may be. They want to know that it's safe. They wanna know that you know, that you're gonna take care of it and you know what you're doing. There might be people out there who just want 24%, but my experience has not been that case. Yeah.   Bill Fairman 02:26:05 And look, you have to know number one, who your avatar is and who, who it is you're speaking to. First and foremost, when you set up the deal, it has got to be beneficial for each party. And from my perspective, it needs to be more beneficial to the investor than it is the sponsor. In our case. And we deal with a lot of private professionals, dentists, orthodontists, when you look at their business, and this may surprise folks that aren't in that industry, their overhead is in the 70% range. So they're operating on only about a 30% margin or less.   Jonathan Davis 02:26:52 Yeah.   Bill Fairman 02:26:54 Okay. Our fund last year had a 67, no, was it seven 67% profit margin,   Jonathan Davis 02:27:05 Different models. Yeah.   Bill Fairman 02:27:07 Now again, there's not nearly as much overhead, but what we do, what we try to do is make sure that the investor is benefiting the most we, you know, listen, we're still making a living or we wouldn't be doing it. Sure. But in, in order to keep your investors coming back and continuing to put money with you as your projects change, make sure that they are the, the biggest beneficiary of your investment investment. Right. And that you will never have trouble continuing to get capital raised because you're always number one, you're provi providing them with a good risk return and at the same time you're giving them the largest benefit Yeah. Of the project. Yeah.   Jonathan Davis 02:27:54 And, and again, like you said, you have to know who is your audience. Right. Are you talking to a lot of people who have self-directed IRAs? Well, equity doesn't mean a whole lot to the, Well, it doesn't mean anything to them, honestly. Right. Just don't get the, they don't get the tax benefit. So they're looking for growth and cash flow. So they're either gonna say, Hey, I don't mind to not take payments for a while if I can get X amount. You know, so just know who you're talking to and if you're talking to someone who has their, their cash and it's like they're, that's their savings that they've been working on. They don't have a retirement account. What's important to them? Probably cashflow. Cause they want to live off of that. Right. So maybe a higher payment is, is better for them. So just know who you're talking to   Bill Fairman 02:28:36 And, and at the same time, depending on where you are in life and what your needs are, some people already have what they have and they're just trying to protect it and outpace inflation. Yeah. And then you have other people who are young and have plenty of time to catch up. Should something go backwards on 'em or someone who got started saving late and they need high returns in order to, you know, catch up where they need to be and they're more willing to take risk. Yeah. So if you have a project that is low risk and we'll say a moderate return, you're not really gonna benefit the folks that need it right away. Yeah. So it's just not a good fit. So don't get discouraged cuz your deal is not, not good. It's just not right for them at this time.   Jonathan Davis 02:29:28 Exactly. Exactly.   Bill Fairman 02:29:30 So keep keep that in mind too when you're doing your little questions with your potential investors, what they're looking for, what their needs are, that type of thing. And then in this industry, there's, there's a lot of us that know each other and we're, while we may be competitors or we also work together, you could recommend that person to another fund manager who has some of those opportunities. Yeah. And they will in turn recommend people to you that are, you know, more in line with what it is that you're trying to accomplish. Absolutely. All right, so sorry we were long-winded. We had a lot of breaking news and Scott's birthday.   Bill Fairman 03:30:13 So thanks guys for joining us. Hope to see you again next week. We are Carolina Capital Management and thank you again. Sorry, I'm messing up with the stuff at the bottom. It's all right. No one notices until pointed out. Thanks for joining us on the Real Estate Investor Show Hard Money for real estate investors. And once again, we are Carolina Capital Management. We are private lenders for real estate professionals in the southeast. If you have a project you'd like us to look at, go to carolina hard money.com. Click on the apply now tab. If you are a passive investor looking for passive returns, click on the accredited investor tab. Don't forget that. Oh, I forgot about this. Yes. Wendy is going to be speaking at the Wise Women Expo and here is the link. It is October 14th and 15th. It is a Zoom only kind of event, but all the women are really smart women investors. Would you say they're wise? They are wise. Okay. If I was truly wise, I would've figured out that we had a graphic for that too. And I would've just shut up. Anyway, the link of not completely finished. I love it. Where was I? Don't forget to like Sheriff subscribe, Hit the bell Wednesdays with Wendy. Have a great week. Take care.

Master Investors
Q&A with Nick Train: UK Equities for the future? (Part 2)

Master Investors

Play Episode Listen Later Oct 10, 2022 24:47


In the second part of this hour long two-part Q and A, Jonathan Davis and Nick Train, co-founder of Lindsell Train discuss bear markets, recent performance and why he is as passionate about UK quoted companies as ever. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Money Makers
Weekly Investment Trust Podcast with Jonathan Davis (08 Oct 2022)

Money Makers

Play Episode Listen Later Oct 8, 2022 58:41


Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by Duncan MacInnes, lead manager of the Ruffer Investment Company (RICA); and Peter Hewitt, manager of the CT Global Managed Portfolio (CMPG). Trusts mentioned this week (with tickers) include: Invesco Perpetual UK Smaller Companies (IPU), Strategic Equity Capital (SEC), Henderson EuroTrust (HNE), European Smaller Companies (ESCT), Ashoka India Equity (AIE), Baillie Gifford China Growth (BGCG), Vietnam Holding (VNH), Macau Property Opportunities (MPO), Hipgnosis Songs Fund (SONG), Monks / Independent Investment Trust (IIT), NB Private Equity (NBPE), SDCL Energy Efficiency Income (SDCL), Scottish Mortgage Trust (SMT), Finsbury Growth and Income (FGT), Worldwide Healthcare Trust (WWH), BH Macro (BHMG), Fidelity Emerging Markets (FEML), Mobius Investment Trust (MMIT). Section Timestamps: 01:06 - Review of the week 03:11 - Money Makers Circle 04:07 - Discussion with Duncan MacInnes 36:45 - Results this week 38:55 - Discussion with Peter Hewitt 57:32 – Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. In addition to the regular features, this week the Circle features the continuation of Jonathan's discussion with Peter Hewitt of the CT Global Managed Portfolio, and a profile of BBGI Global Infrastructure, the large infrastructure investment trust. For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to our over 120 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.

Passive Income, Active Wealth - Hard Money for Real Estate Investing
242 How To Scale Responsibly | Real Estate Investor Show - Hard Money for Real Estate Investors

Passive Income, Active Wealth - Hard Money for Real Estate Investing

Play Episode Listen Later Oct 7, 2022 26:00


Bill Fairman 00:00:00 Oh, see that. Hey, welcome back. We are going to talk about scaling responsibly. One of the things that we run into is, should you scale in a coming downturn? Absolutely. You have to scale responsibly. We're gonna talk about that right after this.   Bill Fairman 00:00:37 Welcome. We're back here with our take two or question 2.0 with Hunter Big to elevate capital. We're gonna talk about scaling responsible respons. Sorry guys, I'm actually out of town right now, so I'm a little sluggish. Let's get started off with a little bit of housekeeping. Thank you so much for joining us on the Real Estate Investor channel, Hard Money for Real Estate Investors. We are Carolina Capital private lenders in the southeast for real estate professionals. If you have a a project you want us to take a look at, go to carolina hard money.com and click on the Apply Now tab. If you are a accredited investor and you're looking for passive returns, click on the accredited investor tab. Don't forget to like, share, subscribe, Hit the bell and don't forget about Wednesdays with Wendy. Wait. Oh wow. That was quick. That was a nice one. Yeah. Yeah. Wendy, excuse me, gives 30 minutes of her time per person on Wednesday afternoons to talk about real estate. There's the link. It will be in the chat side to the right side of the page or underneath, depending on the pro, excuse me, platform you're viewing us from.   Jonathan Davis 00:02:03 You good there? Yeah, you got all about It's   Bill Fairman 00:02:06 Alright. It's a lot of loans.   Jonathan Davis 00:02:07 It's alright. But yeah, no, Wednesdays Wendy's a great thing. If you want to join on the calendar link, you can do that. You will get something from it. I guarantee you. She has a lot of experience and she will tell you she's made a lot of mistakes. So learn from her mistakes.   Bill Fairman 00:02:24 And before we get started, I wanted to mention the Quest Expo was awesome. If you, you guys didn't get a chance to go, I think you can still purchase the videos from all the speakers that were there. It was excellent event. I think there were over almost 900 people, I   Jonathan Davis 00:02:44 Think 857?   Bill Fairman 00:02:45 Yeah. Yeah. Okay. Well that's close enough to nine. Yeah. Thanks for being so exact.   Jonathan Davis 00:02:49 It's my job. It's his job. Yeah.   Bill Fairman 00:02:52 But there was great information. Excuse me, If you have a self-directed ira or if you don't know what a self-directed IRA is, then there's plenty of implication for that. If you want to go to quest trust.com, all the information is free, so check it out.   Jonathan Davis 00:03:11 Excellent. So we wanna talk about scaling or responsibly. Yes. And what the heck does that even mean?   Bill Fairman 00:03:19 Well, it means getting either bigger or we're Okay. I promise I wouldn't say this, but it's about cleaning your fish.   Jonathan Davis 00:03:28 No bad joke. Yeah, yeah, yeah. But no. So we have Hunter on here with Elevate Capital and since February of 2018, him and his partners have been investing into multifamily in primarily North Carolina.   Hunter Bick 00:03:44 Oh, actually all North Carolina. All   Jonathan Davis 00:03:46 North Carolina. Okay.   Hunter Bick 00:03:46 We looked elsewhere, but   Jonathan Davis 00:03:47 Yeah, you like North Carolina. So they have went from zero doors to several hundred in that time, you know, timeframe.   Hunter Bick 00:03:57 500 ish.   Jonathan Davis 00:03:58 500 ish. It was more, But you just sold 120, didn't you? We did, yeah. Yeah. So they were over 600. So they have scaled in that time period from Jan, from February of 2018 to now on several hundred doors. And to kind of wanna just pick your brain on, what was your thought process like? You know, when you were looking at this, what, like, did, did it feel too much, too little or kind of how, how did you look at adding to your portfolio?   Hunter Bick 00:04:30 Yeah, that's a good question. You know, we kind of, we, we, we've always kind of taken the approach where if this deal makes a lot of sense and we think the upside is large, it's our job to figure out how to get it done. Sometimes that meant buying four things at once. Like there was a day we actually closed 200 doors in one day. Wow. There are other times where maybe we go several months without putting anything under contract. But the va, we knew the value was the value and we were always really confident when we thought we had a really great deal under contract, we had to figure it out. Our approach has typically been, you know, we found so many great deals off market that our approach has typically been how do we keep as much equity as possible? And that often meant hard money, hard money, maybe a debt stack, maybe some investor capital, whatever it was that we needed, we were going to do it.   Hunter Bick 00:05:27 But the first choice was always keep all the equity with a, with high leverage because we knew we were gonna add the value so quickly that we could refinance into permanent debt in six to 18 months, depending on the deal. And, and so the higher leverage was not for us was, was not risky or not scary because we knew it was gonna be very short term and we knew the value was gonna be there. Yeah. And so that's how we've done a lot of our deals. You know, you get to a certain size and, you know, you see more opportunities. And so we are, we are looking, we are kind of getting to the point where we're gonna be taking more passive investor capital to do some of those, some more deals. You know, we do think we're gonna see some really good opportunities here in the next 12, 18 months. I agree. We're getting positioned for that and create a little more, you know, a predictable type of, you know, capital process. Yeah. You know, and with higher interest rates, it's a little trickier these days to count on low interest on a per, on a per loan 12 months from now, which   Jonathan Davis 00:06:31 Is more reason why Yeah. You win when you purchase it. Right?   Hunter Bick 00:06:34 Absolutely. Yeah, absolutely. You know, and so obviously the, the lower the basis, the, the more money you're gonna make and it really is that simple.   Jonathan Davis 00:06:44 Yeah. I wanted to go back, you mentioned debt stack. So for everyone that doesn't know what debt stack is, you have your primary, like first lean position loan, which would be, you know, just your, your, what you would normally get. And then on top of that, you can get mezzanine debt, which can be secured by a second lean or it could be unsecured. And then on top of that you can give up. You, you have equity and then there's multiple levels of equity that you can give up and that just gets, you know, higher and higher. So that's, that's what a debt debt stack is.   Bill Fairman 00:07:17 I I call that a wallet full of credit cards. That's my   Jonathan Davis 00:07:21 Well, and that's how a lot of people   Hunter Bick 00:07:22 Use a lot of those on the way too.   Jonathan Davis 00:07:23 Yeah. That's how a lot of people do this. I mean, like, when you're buying five, 10, 20 million properties, like no one's really using their own money to do that typically. Now they might use some of their money, but typically people don't have $5 million to just say, Hey, let me put it here. And because that, you know, even if they have $5 million, you wouldn't do that. So you want to stack your debt with, you know, mezzanine or, you know, whatever the case may be. A as Hunter said, like their, their whole goal has been to try to avoid giving up equity and you know, why? Well, that's allowed them to capitalize on the back end, on the exit at a higher return, which then, like he said in the previous show, he took the earnings from Applewood and 10 31 them into another project. So it allowed them to buy more assets. It allowed them to scale.   Bill Fairman 00:08:22 And, and as markets change, we, we are in a higher rate environment as well as an environment where credit's gonna be a little tighter for the institutional type blenders. So you have to take on a few more equity partners in order to get these same deals done, because the fact that they're going to be a little tighter on the credit means that they're gonna lend less money on it. Yep. If you do go the mezzanine route with a larger gap or a larger percentage of that, those rates are typically a lot higher. Correct. You're almost better off having an equity partner to fill in that gap than the, than the mezzanine financing am I   Hunter Bick 00:09:04 Agree. Well, it, well, well, depends on a couple. I, I would agree or disagree depending. Right. Every deal is different. Absolutely.   Bill Fairman 00:09:12 Every situation   Hunter Bick 00:09:13 Is different. Absolutely. How long, how long do you need the Mezz debt? Right? Yeah. And or you know, if it's a longer term for construction project on a bigger asset and you're gonna, and you wanna, and your options are take some equity partners versus loaded up with 10% debt, but it's an 18 month project that 10% debt's gonna be expensive for 18 months. Right? Yeah.   Jonathan Davis 00:09:32 And so how long can you negative carry?   Hunter Bick 00:09:33 Exactly. And so you gotta, you gotta factor the negative carry in and all of that. And so equity partnerships become, they become less risk if something goes wrong, you can bring others in to profit along with you, you know, it's important to align incentives at all points, by the way. Yep. That's a huge thing for us. But yeah, so the, and the other thing too, in to your point Bill, and today, today's debt markets, even a year ago, nine months ago, you could get bridge debt for, in the fives five and a quarter, five and a half for 80% of the purchase and a hundred percent of the construction today, that quote is 75% of the purchase, 75% of the construction, and it starts with a nine, right? Like it might be nine and a half. So different types of debt are appropriate depending on the market. Hard money at what, 11, 12? Where are you guys right now? Yeah, something like that. Between   Jonathan Davis 01:10:23 10 and 12.   Hunter Bick 01:10:24 Yeah. Okay. Hard money is now all of a sudden really, really cheap because there's no alter. Well if you're gonna go 75% on bridge at nine and a half, why would you not go a hundred at 11? Like that's a no-brainer. Right. And so, not to mention you don't have the breach debt org structure and all the crap that comes with it. Yeah. So that's, you know, that's a tool that has become more attractive right now For sure.   Jonathan Davis 01:10:50 Well, yeah. When, when you break it down, I mean, someone's gonna do 75 and 75, so 75 of the purchase, 75 with a re that means you have to bring 25% of the costs of the total cost. So typically you're not gonna have that. You're gonna have to either get mezzanine debt or equity, and typically you're gonna give up equity and what is that equity gonna cost you? So when you're factoring this, you're factoring, okay, I'm paying nine for 75% of the cost and then this equity's gonna cost me X amount. And if you can get 95 or 90% loan to cost on, on hard money or private lending at 12 or 10 or whatever the case may be, when you run those side by side, a lot of times the private lending is the cheaper option in the long run. But again, it comes down to the carry. Can you, you know, is there a negative carry? Is there a lease that period? Do you have to get out all the units, you know, flushed out and then rent them all? Can you rent em them as you go? So each one is different, but I will say it debt is always cheaper than equity.   Bill Fairman 01:11:58 Well, yes, I, I totally agree with that. That's what we talk, we talk to people about that all the time. Why do you get a, a money partner who's gonna take half of your equity when you can get a hard money loan and spend, you know, five, 10 grand worst case scenario on your financing on a, on a home Yeah. Scaling. You have to have good systems and processes in place. Do you wanna absolutely. Talk about any, how you guys are doing it?   Hunter Bick 01:12:28 Sure. You know, so I mean, for us, everything starts with, you know, a goodbye. Right. And so, you know, we probably model a hundred deals for every one or two that we buy. I mean, we're super, and, and everything's off market too, so it's not like we're, you know, modeling deals that are on LoopNet or Right. Publicly listed. Like we don't bother   Jonathan Davis 01:12:47 Except that first one.   Hunter Bick 01:12:49 Well, yes, except that first one. But, you know, so, you know, so, so has to start there and like, you ha you just have to be, you have to stick your guns and you have to be super selective because it's very easy to like go through your spreadsheet model and say, Okay, well I think I can whittle the, I think I can get this rental done for 10% less and oh yeah, I think I can get 10% better on my takeout loan or a little bit better leverage. And before you know it, you've just, you know, inch your way, you talked yourself into doing a deal that maybe you shouldn't be doing. Right.   Jonathan Davis 01:13:19 You've modeled a unicorn situation that probably won't   Hunter Bick 01:13:22 Happen. Exactly. Yeah. So we try to, we always, I always try to say, I mean, everything be is a probability again, you know, so what's a range of probabilities for each piece of the process? What's the average, what's the worst case? What's the best case? And if you know, kind of that between average and worst case, if something like that still works, then it, it's, it's gonna be a great deal. If things can go wrong and you still make money, it's gonna be a really good deal.   Jonathan Davis 01:13:47 Do you, when, when you're modeling this, do you stress test them at higher cap rates on the exit? Do you, you know, like let's say like, you know, Charlotte's trading on a B level asset, I don't know, a six cap, do you stress test them at a, at a different cap rate? Or kind of what do you do to to stress test those, those models?   Hunter Bick 01:14:07 Yeah. So the way we kind of look at it, we're less worried about the cap rate because the, the, the, the end result, because we're not doing, we're not doing a new construction, right? We're, we're doing B and C value add and so on, on the takeout. If it's, if, if it's a sell, the NOI is really what's gonna matter, right? That's gonna drive it. And you know sure. If, if, if we have to have a five cap on the finished NOI in order to make any money, like no. Right? Like, I mean, come on. But, so if we're gonna make money at selling it at a seven, it's probably a great deal, right? Yeah. For us, we always wanna see what can we refinance at that? Can we do a cash out or would a refi require cash in? That's what we never want to do. Always. You always wanna cash out or cash neutral worst, you know, worst case for us. And, but the cap rate's not the constraining factor there. The, the cash flow is especially in a low cap rate market like Charlotte, right? So, you know, so yeah, we definitely look at different exit scenarios, like what happens if there's some, if the expenses are actually higher than we're projecting, what does that do to each scenario? But we always wanna have multiple exits. We don't wanna be locked into a one path.   Jonathan Davis 01:15:20 Yeah. And we, you know, for the people out there, if you're working with syndicators or other people who are doing this, you know, that's what you want to be savvy about is understanding the net operating income, understanding that there's a difference between the acquisition capital capitalization rate and the operating capitalization rate and the exit capitalization rate.   Hunter Bick 01:15:40 Yeah. Lemme talk about that real quick. Yeah, go for it. So the acquisition cap rate is I think, a huge misnomer, right? That matters a lot if you're buying a stabilized asset. Like if you're buying an A and you're buying this thing for the cash flow and you're buying it for, you know, market appreciation, call it the going in cap rate does matter. Anything else, like value add, the cap rate means nothing because the whole point is you're buying something that's already distressed. Yeah. So we've bought zero caps, like a, an empty property is a zero cap, right? Yeah. We've bought one caps because the financials were so bad, right? Yeah. That, that means nothing because all we care about is what's the cap rate after we renovate, stabilize, you know, improve the operations, What's that cap rate? Exactly. Because that's what, that's what matters. Yeah. All, all in on, all in on cost. So those   Bill Fairman 01:16:29 Of you in the single family fix and flip business, it's basically what's the place gonna be worth after the repairs your thing? Same, You're not buying a, a property because it's, it's valued at what, what it's the sales price is. That's not why you're doing   Jonathan Davis 01:16:44 Yeah. Yeah. And, you know, just to, to beat the dead horse here, I mean, we've, we've, you know, Hunter and I've had, I don't know how many hours of conversations about cap rates, but   Bill Fairman 01:16:54 I got feeling there were adult beverages involved   Jonathan Davis 01:16:57 Maybe on some of them. Yeah. Yeah. But yeah, it's like people don't understand like what's the most important, is the most important or two things, and Yeah. Excluding if you're buying like an A level asset, which, you know, like that's not what we're talking about here. It is your operational cap, right? What, what is your yield, what is your cash flow? And then what can you, what multiple can you sell that asset for? Those are the only things that matter. Not, it's like, well, I can't buy it, it's a four cap. It's like, that doesn't matter. I mean, if, if you're gonna be putting in $600,000 and raising the rents 200 per unit four cap doesn't matter.   Hunter Bick 01:17:38 Exactly. No, exactly. And that's the key thing a lot of people get tripped up on.   Bill Fairman 01:17:41 Now, as Jonathan was saying, if you're involved in a syndication, you're a passive investor in this syndication, what is it you would like more the sale of the property and get a big chunk of change at the end, or a refinance at the end of the out, and you get a big chunk of change. What's more beneficial   Jonathan Davis 01:17:59 Depends on where you are   Bill Fairman 01:18:00 To the investor.   Jonathan Davis 01:18:01 Well, it depends on what you are. So if you,   Hunter Bick 01:18:03 How good was the buy? Yeah.   Jonathan Davis 01:18:04 How good was the buy? Like, am I willing to pay the, the capital gains on the, on the sale if the buy was good, or would I rather take the no capital gains on a refinance cash out? So it depends   Bill Fairman 01:18:18 That, that was my point. If you get the same amount of money on either end, and if it's a refinance, it's tax free.   Jonathan Davis 01:18:24 Yeah. So yeah, that is true. So if you were an equity member on this property, that's, that, that refinances that is a cash or a tax free transaction that you get. But again, as Hunter, you know, pointed out as someone who does this, what am I selling it for? What did I buy it for? Right. You know, I, I might not mind to pay the taxes if it's   Bill Fairman 01:18:44 At, at the same time, if you're getting a capital gain during the process, you're probably also have some passive losses that you can also add Dang. To them.   Jonathan Davis 01:18:53 Exactly.   Hunter Bick 01:18:53 And the cash out refi for us, I mean that's, that's how we, that's along with, you know, high leverage on great deals. The cash out refi is how we got here. I mean, the cash out refi is the best thing ever. It's non-taxable. You get all this cash back as long as the property can support the new debt. And if it can't, then you haven't done your job. Right. But it's tax free dollars to go do, do go do more deals. And that's, it's, I don't know how many great cashout we're gonna see for the next 18 months, but thankfully we got most them done. But Yeah, prior to now,   Jonathan Davis 01:19:27 Not on the ones that bought Yeah. You know, Yeah. Two years and less ago. I mean, that's, that's gonna be tough.   Bill Fairman 01:19:32 I don't think the cash out's gonna be the issue. Is it, will it support the loan? New loan?   Hunter Bick 01:19:37 Yeah. Well it's, yeah. I mean, the ca you can, the cash out still exists. It's just not gonna be as good.   Jonathan Davis 01:19:41 Yeah. The, the debt service coverage ratio is gonna be a big issue for, you know, and that's just how much does gross does the property make? And then how much does it spend on interest principle taxes, insurance, and any HOA fees.   Bill Fairman 01:19:55 But it's not the end of the world either cycles or just that they're cycles. Would   Jonathan Davis 02:20:00 You say that cycles are cyclical? Yeah. Yes. Okay.   Bill Fairman 02:20:04 The lower rates will come back around at some point.   Jonathan Davis 02:20:07 Yeah. Yeah. I mean, yeah. I mean, like I said, you know, talking with different people, I mean there, there's some people who think that, you know, it's all over. It's, yeah, it's all over. And for the next 20 years it's just gonna be, you know, a blood bath. And then there's some people who think, Oh, you know, January of next year fresh start, we're gonna be great. And you know, I think neither one of those are right. I think we're between those two where exactly. You know, that's the question. But, but yeah. I mean, when we talk about scaling, like right now, in the next 18 months, are you excited about scaling or are you nervous? What's your thought process for the next 18 months? We're   Hunter Bick 02:20:47 Always excited. Yeah. You know, I think for, for different reasons, depending on, you know, what the market gives you. I mean, you have to be able to adapt to what the market gives you. Right. No one's smarter than the market, and I don't try to pretend that I am, but I do try to be prepared for different eventualities. And so, you know, right now it's harder, debt is more expensive, it's harder to get that huge cash out after the value add period. Yep. Okay. No problem. So the, the move there is probably more equity, a little less debt on, on, on the buy simply because you don't know when you're gonna be able to get to, you know, 4% per debt again. Yep. That could, that could be a while. So bringing in equity investors to participate is, is, is, is, is, it's a good way to handle that.   Hunter Bick 02:21:35 Staying, staying sticking to our guns on good buys is more important than ever. Yep. And maximizing the value of the properties. You do have, I mean, we're still an 11% rentre renting Charlotte's environment and Charlotte, even Fayetteville, seeing huge fayville, seeing huge ones. So as owners of multifamily real estate, you know, that for properties are already in low interest debt that is going to benefit us if more cash flow from those, it allows you more, you know, buffer, you can deploy that toward new deals. You just have to, you can't assume that what you did before is gonna work forever in any business. Yep. Especially this one. But you   Jonathan Davis 02:22:12 Just, you just adapt the dumbest sentence in the English language is that's how we always have done it. Isn't,   Hunter Bick 02:22:18 I think that's Oh, it's terrible. Yeah. Yeah. Like, you know, you have to, you just have to be realistic about, well,   Jonathan Davis 02:22:23 We talk about pivot, and you have to be able to be nimble and pivot. I mean, so to back up on the equity piece that Hunter was talking about, why is that so beneficial and how can that help you scale? Well, equity, true equity, if, if you're giving up equity as like a, an lp, which is a limited partnership, so you have a general, general partner, and then you have a limited partner. When people invest into multi-family as an equity member, they've become a limited partner. And the general partner is the operator would be, you know, Hunter in this case. How does that help you scale? Well, the debt is a fixed monthly or quarterly or however it's, you know, amortized, it's a fixed payment and that payment is the payment, and it is every month or every quarter with the equity, you can set a lower preferred rate of return with your equity members.   Jonathan Davis 02:23:13 Like maybe they're okay getting 4% cash flow over the life of the, the project because they're going to get depreciation and maybe that depreciation equates to an 8% return on top of the four, and that gets 'em to 12. And then there's a, you know, a backend equity piece that they get and it jumps into 20, like a 20% irr. So, you know, like there's, that's the way to do it. It, it helps you on the cash flow, it helps you manage that asset while you're working on it and while you have it in your portfolio. And it gives them a benefit, you know, they get some money, they also get a tax benefit, and then they get a back end benefit.   Hunter Bick 02:23:52 And it also allows you too, to, you know, one thing we always do, incentives are super important. You know, you want s to be a hundred percent aligned. What we typically do is, you know, we waterfall the equity, in other words, so like outta the gate, our investor would have, like, we did one where our investor had 99% of the equity until we performed. We have no problem with that because we knew we were gonna perform and then they're protected in case something goes wrong. And I think that makes a lot of sense, and we're more than happy to do that. Of course, once a threshold is met, well then the equity changes. But everyone's made their money at that point.   Jonathan Davis 02:24:23 And so, and anyone out there syndicating deals right now where you're an lp, is your GP willing to give you 99% of the, the equity until they perform? If they don't, maybe you should visit elevate capital group.com. Appreciate,   Bill Fairman 02:24:40 And keep in mind too, multifamily is vet as recession resistant as you can find. It's residential in any economy. Again, you need two things, food and shelter and   Hunter Bick 02:24:51 The foreclosure rate for B and c multifamily in peak financial prices, 2009 was less than 1%. I mean, yeah, that's, yeah, that's about as good as it   Bill Fairman 02:24:59 Peak need a place to live.   Hunter Bick 02:25:00 Nothing is bull, nothing is perfect. But yeah, multifamily, real estate's pretty   Jonathan Davis 02:25:04 Resilient. 1%. And you'll, you'll play those all the time,   Hunter Bick 02:25:06 All   Bill Fairman 02:25:07 Day long, just like the base.   Hunter Bick 02:25:08 Exactly.   Jonathan Davis 02:25:09 Yeah.   Bill Fairman 02:25:10 All right folks, thank you for joining us on the Real Estate Investor Show. We are Carolina Capital Management lenders in the Southeast for professional real estate people's. If you have a pr, if you have a project you'd like us to take a look at, go to carolina hard mini.com, click on the plan out tab. If you are a passive investor looking for passive returns, go to the Accredited Investor tab. This is a great show. Thanks again, Hunter, for being our guest today. And we guys, we, we will see you next week. Thanks.

The Mistress Carrie Podcast
The Mistress Carrie 'Sit Rep' 10-06-2022

The Mistress Carrie Podcast

Play Episode Listen Later Oct 6, 2022 5:26


This is the Mistress Carrie Situation Report! The 'Sit Rep' your daily Entertainment headlines, Industry Info, and everything ROCK, all in under 5 minutes! 10-06-2022. The Mistress Carrie Podcast, a proud member of the Pantheon Podcast Network!  Foo FightersOzzyOzzy CosmeticsPatti SmithPam AndersonSevendustSteel PantherJonathan DavisThrillerNew films in theaters this weekNew Releases This Week Hard Rock and Metal ReleasesFind Mistress Carrie online:Official WebsiteThe Mistress Carrie Backstage Pass on PatreonTwitterFacebookInstagramYouTubeCameoPantheon Podcast Network

Locked On Longhorns - Daily Podcast On Texas Longhorns Football & Basketball
What do Quinn Ewers, Bijan Robinson and the Texas Longhorns need to do to beat the Oklahoma Sooners?

Locked On Longhorns - Daily Podcast On Texas Longhorns Football & Basketball

Play Episode Listen Later Oct 6, 2022 34:19


Quinn Ewers and Bijan Robinson will take the field on Saturday with the hopes of beating Brent Venables, Dillon Gabriel and the Oklahoma Sooners in the 2022 edition of the Red River Showdown. Steve Sarkisian started off with a loss in his first edition of this storied rivalry, but Lincoln Riley and Caleb Williams aren't coming through that door on Saturday. Last year, you can make the argument that Xavier Worthy and Marvin Mims were the best players on the field. Will they be able to recreate that matchup with questions at quarterback for both teams? Will it be Quinn Ewers or Hudson Card for the Lonhgorns? Will it be Dillon Gabriel or Davis Beville for the Sooners? John Williams from  @Locked On Sooners  and Jonathan Davis from  @Locked On Longhorns  get together for a Locked on Crossover to discuss everything you need to know about this matchup between two teams are hungry to prove that they are still amongst the elite in the Big 12. The Sooners have dominated this matchup since 2000, winning 16 out of the 23 matchups since then. However, Vegas seems to think that the Longhorns have the advantage in this game with them being 7 point underdogs at the time this is being recorded. We'll see what happens. Hook Em Support Us By Supporting Our Sponsors! LinkedIn LinkedIn jobs helps you find the candidates you want to talk to, faster. Post your job for free at Linkedin.com/lockedoncollege Terms and conditions apply. Built Bar Built Bar is a protein bar that tastes like a candy bar. Go to builtbar.com and use promo code “LOCKEDON15,” and you'll get 15% off your next order. BetOnline BetOnline.net has you covered this season with more props, odds and lines than ever before. BetOnline – Where The Game Starts! Upside Download the FREE Upside App and use promo code Locked to get $5 or more cash back on your first purchase of $10 or more. Underdog Fantasy Sign up on underdogfantasy.com with the promo code LOCKED ON and get your first deposit doubled up to $100! SimpliSafe With Fast Protect™️ Technology, exclusively from SimpliSafe, 24/7 monitoring agents capture evidence to accurately verify a threat for faster police response. There's No Safe Like SimpliSafe. Visit SimpliSafe.com/LockedOnCollege to learn more. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Master Investors
Q&A with Nick Train: UK Equities for the future? (Part 1)

Master Investors

Play Episode Listen Later Oct 4, 2022 20:00


In the first part of this hour long two-part Q and A, Jonathan Davis and Nick Train, co-founder of Lindsell Train discuss bear markets, recent performance and why he is as passionate about UK quoted companies as ever. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Passive Income, Active Wealth - Hard Money for Real Estate Investing
241 How To Find Emerging Markets | REI Show - Hard Money for Real Estate Investors

Passive Income, Active Wealth - Hard Money for Real Estate Investing

Play Episode Listen Later Oct 3, 2022 29:22


https://youtu.be/YmfjzV0YiwI Bill Fairman 00:00:01 Not this time. Oh, we're on now. What a surprise. So there's been a lot of discussion about how to get into markets that are not overpriced. So we're gonna do a show today about finding emerging markets, and you will get that information right after this.   Bill Fairman 00:00:44 Good afternoon everyone. It's Bill and Jonathan and or special guest hunter. But we were, we were gonna tease him in, but too bad he's already here. Thank you again for, well, not again, but thank you this time for joining us on the Real Estate Investor, Show Hard Money for Real Estate Investors. We are Carolina Capital Management. We are a private lender for real estate professionals in the Southeast. If you have a project you'd like us to take a look at, please go to carolina hard money.com and click on the apply Now tab. If you're a passive investor looking for passive returns, click on the accredited investor tab. Don't forget to like, share, subscribe, hit the bell, all that good stuff. Excellent. And don't forget, Hey, Brian. What? Oh, Wendy. Wendy. Don't forget about Wednesdays with Wendy. She, and yes, I will talk right through the graphics. Anyway, Wendy devotes 30 minutes per person on Wednesdays that wants to talk anything about real estate. So there's her link. It will also be on the comments and chat section on the right side or underneath, depending on the platform that you are viewing us from. She usually gets booked out about two months in advance. So book your spot now   Jonathan Davis 00:02:16 For everyone out there wondering. I'm six foot two hunter's, just seven foot.   Bill Fairman 00:02:24 Yeah, I'm   Jonathan Davis 00:02:25 Just sure. I'm trying to keep my head in the   Bill Fairman 00:02:26 Frame for you. I can go ahead and admit that I'm vertically challenged. Oh, that I don't have an issue with that. No. So yes, we have our, our guest Hunter B he is with Elevate Capital. We have what about a three year history? Guess? 4, 4, 4   Jonathan Davis 00:02:45 And a half. Four and a half year history.   Bill Fairman 00:02:47 It's a great story. We're gonna let him tell it instead of me or Jonathan tell   Jonathan Davis 00:02:52 It. Yeah. And before he tells that, I just wanna get some quick information in for everyone. Just want, this was some data that we have that will kind of lead into what Hunter's gonna talk about, but also about the emerging markets. We are, this is what, the third month in a row where we've seen rents slow, but they are still rising. Charlotte is kind of, I think in the top seven on still rent increases, which is 11.5% year over year. The median rent in Charlotte right now is almost $1,800. And if you've followed the show, you also know that the median house payment for a mortgage is 18, 18 50. So they're, they're right there with each other, which is, you   Bill Fairman 00:03:49 Know, that means there's room to grow.   Jonathan Davis 00:03:50 I suppose so. I suppose so. So we're also seeing, give me a second.   Bill Fairman 00:03:57 No issues.   Jonathan Davis 00:03:58 We're also seeing a slow down and starts on single families and a slow down and starts on multifamily. However, construction that is in process is up on multifamily by 27% and up on single family still by 4%. So we're still seeing, you know, there's still growth, but we're next, you know, Hunter and I were talking a little offline a little earlier, and you know, as the next month and, and two months comes in, we're gonna see that decline and that slowing down hit even harder and boasted because of the interest rates. Supply chains, picking up lumber, you know, as we were talking about earlier, as, you know, back to pre pandemic levels, which is good. So also if the, if you're in the way of the hurricane, we're very sorry. I think, Bill, did you lose a home?   Bill Fairman 00:04:51 Well, yeah, that's what I was gonna jump in into before we got too, too far into this that you guys pray for the folks in Florida, we have some short-term rentals down there, but we don't live there full time. So it's not affecting us like it would the people that live down there full time. And there are people that are missing as well. So keep 'em in your prayers. It's gonna be a while to recover where it hit the hardest. Yeah. That said, starts almost always do this when there's a coming recession.   Jonathan Davis 00:05:24 Exactly.   Bill Fairman 00:05:25 People are being a little bit more cautious. Banks are kind of holding off on commercial and residential development because through every downturn, or we'll just call it a crash. Yeah. What's the first thing that goes under? And it's the start of a development. Exactly. So it, it, here's the problem though. We're still 5 million homes behind where we need to be based on the population growth. So all it's gonna do is increase demand for what's out there. Yeah. Right. Yeah.   Jonathan Davis 00:05:57 Well, talking about increasing demand, want, you know, get Hunter talking here. We wanna know kind of, you demanded each stop by we demand. So wanting to know kind of how you all got started, What was the first project, and then just kind of take us through and, you know, I'm sure Bill and I will interrupt and jump in from time to   Hunter Bick 00:06:17 Time. Okay. So like the three to five minute version, not the 20. Hey, you   Jonathan Davis 00:06:21 Take all the time you need. We're on your time, man. Yeah.   Hunter Bick 00:06:23 All right, cool. So we kind, we, our, our partnership Elevate Cowboy Group got started really, we started 2017 ish, mid 2017. And one of our partners, it was high school, buddy of mine, his name's Matt. And then we met our third partner, Shannon, pretty shortly thereafter. And we just really clicked really well. And you know, we at the time, even, even now, but like the, the whole idea is effectively we do is value add multifamily, where we can go in, find something that's underpriced because of distress or a bad rent roll or whatever it is. We can go in, renovate, improve the quality of life, improve the asset. And   Jonathan Davis 00:07:06 You pulling those off with mls, right?   Hunter Bick 00:07:08 No. Now the very first one had been on LoopNet, believe it or not, our very first deal was in an emerging market. So good segue. Yeah. In Fayetteville, North Carolina. And it had been on loop net, we made an offer, didn't get it, came back to us a few months later, fell out a contract and it was $2 million for 56 doors in Fayetteville, which in today's world would be Absolut absolutely unheard of. That was, and that was in   Jonathan Davis 00:07:33 2018.   Hunter Bick 00:07:34 It was 2018. And at the time, everyone told us we were idiots for wanting to buy anything in Fayetteville, and we'll get into that in a minute, but they were wrong. And so we had an appraisal for this property and we had like a hundred grand to buy an apartment building. And we had an appraisal, said it was worth two and a half million. And Shannon and I were talking about it, We were like, Well, why don't we put hard money on it? So we came down here to Carolina Hard Money, aka Carolina Capital Management now, Excuse me. Yes. Yep. And showed you guys what we had and you guys got it. And that's what helped launch us. We wouldn't be here today without, without that first deal and all the other ones we've done together and, and you guys gave us a hundred percent of the purchase and some rental money five months later, that thing appraised for 3.3. Yep. And we did a cash out. I think our new loan on it was two and a half, maybe paid you guys back, took some cash out to put towards future renovations. And that's kind of how we found our model. It's basically like a leveraged buyout private equity type model. Yeah, we've done that. We've done what, 20 deals now? We've done most of them in some similar structure. I was gonna say on this first deal. Yeah.   Bill Fairman 00:08:55 It was based on market conditions. It was pretty much fully occupant, right?   Hunter Bick 00:09:00 Yeah. It was like 85 something.   Bill Fairman 00:09:02 Yeah. And while it, there might have been some updates that could be made. It wasn't that it was in bad shape, it was just outdated. Right? It   Hunter Bick 00:09:13 Was, it was compared to some of the stuff we've seen, it was not in bad shape. Yeah. It, it definitely needed some deferred maintenance. It had some issues. The that one though, the, the income statement was where lot of the value add was, right? Like the expenses were off the charts. Like the previous owner was, this is not, this is no joke. He was spending $400 a month to lease a copy machine. Why on earth does an apartment comp? First off, you could buy one for half of that. Second of all, what is an apartment comp? Like what is it like, why would that be on an apartment complex as   Bill Fairman 00:09:45 Books? Right? It was installed in a new car. That's the difference.   Hunter Bick 00:09:48 It must have been. Right. And so, you know, we knew enough to say, okay, 400 times 12 is $4,800 a month, $4,000 a year to divide that by, at the time it was like a seven cap. I mean, the math on that is big money on the valuation. And so we, we, we fixed a lot of stuff like that.   Jonathan Davis 01:10:09 And that's, you know, just, just to jump in. I mean, when you're looking at these that it's not what you can increase. Everyone thinks what can, you know, what's the rents that I can increase, You know, and under market rents. That's, that's, you know, a great way to look at it. However, this particular asset that when I was underwriting it, it was actually the, you know, when I joined with Wendy Bill, this was the first multifamily that I under underwrote for them. We could see immediately there was exorbitant amount of expenses on there that shouldn't have been there, that created hundreds of thousands of dollars of value once they just removed them.   Bill Fairman 01:10:44 No. Now on, I was gonna say on the reverse side of that, if your brother-in-law is gonna be able to do stuff a lot cheaper than the market Yeah. That's not gonna count than the valuation. So something to keep an eye on when you're looking   Jonathan Davis 01:10:57 At these things. Yeah. You can't say like, you know, well my expense ratio is gonna be 20 when market's 35. Right. You can't say that.   Hunter Bick 01:11:04 No. I mean, you can, but no one's gonna believe you.   Bill Fairman 01:11:06 No   Jonathan Davis 01:11:06 One no, no price's   Hunter Bick 01:11:07 Gonna use that. Yeah, no, no. Good lender will buy it. Yeah. Yeah. And so, you know, the commercial real estate is valued on the operating income, the, the, the net operating income, the noi, and that's the game. And depending on the deal, it could be that could be through, you know, buying an empty property and fixing it and, and leasing it to market. It could be cutting expenses from mismanagement. It can come in many different ways. Yep. And you know, a lot of 'em, the CapEx, some of them need so much CapEx that doesn't generate revenue. Like we looked at one where capital   Jonathan Davis 01:11:40 Expenditures, things that you have to do to the property is what CapEx is. Yeah.   Hunter Bick 01:11:45 Thank you. Yes. And so, but there's different types like roofs, structures,   Jonathan Davis 01:11:52 Hvac,   Hunter Bick 01:11:52 H H V C   Jonathan Davis 01:11:53 Sales things don't add value because people expect a roof and they expect, you know,   Hunter Bick 01:11:57 Exactly. A lease is a two-way document and these things are supposed to work per your side of the leasing, the lease contract. And so you don't get bonus, you don't get anything for that. But if all of the, all of the CapEx that a property needs is unit upgrades or improving the landscaping or the curb appeal or things like that, those things drive value immediately. And that, and so you ideally you want properties that have new roofs and new parking lots and don't need structural work. Yep. And you can just go renovate doors. Now all your CapEx money is going to where it makes the biggest difference. Yep. And so you can see any combination of that. Some, you know, some deals work, some people don't. But you know, that's definitely something to, to look for.   Bill Fairman 01:12:41 And and your typical business model is essentially whatever the, the best deal is. Right. It's not just about buying hold, it could be buy or renovate and sell at the same time, depending on the high   Jonathan Davis 01:12:55 Best use for the   Bill Fairman 01:12:56 Property. Cause there could be some great offers that are coming in. Yeah,   Hunter Bick 01:12:58 It could be. Yeah. You know, when we go in, we, we don't want to be married to a particular exit strategy. Sure. You know, and so if, if the deal only works, if we can turn around and sell it in a year, 18 months, probably not gonna do it. Right. There have been a couple, there would, I can think of a couple exceptions to that, depending on markets and different types of assets. But in general, like, you don't wanna be locked in to one path because if that one path doesn't work and you're gonna, if if it doesn't work and you're gonna lose money, that's tough. That's not a situation you wanna be in because real estate's illiquid, it's expensive to sell. You don't wanna be in a situation where path A you lose X and path B you lose X times two. That is not a situation. Our job, my job is to keep us outta that situation. Right. So everything we do, we wanna be able to have the option to refinance it. Yeah. We   Jonathan Davis 01:13:48 Sell it. Absolutely. Yeah. That's, we talked about multiple exits always. So why, why is Hunter here on this show for emerging markets? That's because when I talk with him and his partners, what's really important and what they're really good at is sourcing deals and underwriting deals. So much so that like, you know, in 2018 they were, you know, in Fayetteville before a lot of people got into Fayetteville. And what we want to talk about is, Hunter, what are some of the metrics that you look at when you're underwriting a, a project or a property and maybe it's in a, you know, a market that you're not familiar with or you're thinking about getting there, or it seems like it's a great deal, but, you know, what are the metrics you look at for those particular markets?   Hunter Bick 01:14:38 Sure. Yeah. So the first thing we, the first thing I wanna look at for any deal is the rent roll, right? Is I wanna know where are these rents compared to the average or median in that market, right? You look at some markets where maybe the rent roll 600 bucks, it's like, okay, well that, that could be high, that could be low. It depends on the rest of the market, right? Yeah. And so then the, you know, the, the second thing, if it's a new market, we wanna see rent to median income. Yep. Where, how low are the rents compared to the median income? And if you look at, But that only matters if you look at a bunch of other cities too, right? Everything's relative. So when we were looking at Fayetteville, for example, in 2018, Fayetteville's rent media income at that time it was like 18%. If you, Charlotte was like 32, all these other cities were like high twenties, like Raleigh times 20,   Jonathan Davis 01:15:24 They're 25 and up.   Hunter Bick 01:15:25 Yeah. Yeah. They're all 25 up. And then here's Fayville, like all the way at the bottom, like way below like every other, you know, 30 other cities. And we're like, okay, clearly the media income in Fayetteville can support higher rents, you know, in the near   Jonathan Davis 01:15:38 Future. And, and in rents to median income, it's, it's just a, a hunter's way or someone who's buying multifamily or lender. It's the same way as looking at like your debt to income. That's, it's it's the exact same thing. So kind   Hunter Bick 01:15:52 Of at scale it's   Jonathan Davis 01:15:53 Yeah, yeah, exactly. At scale. So it's instead of an individualized debt income, it's a generalized debt to income for what are the average people making and what are the average rents. Right?   Hunter Bick 01:16:02 Exactly. And so, and, and so then, so you wanna have an idea of not only where, where are rents at this particular asset, relative to this particular market, but what higher risks can this market in general support? Yeah. So that's kind of the by far away when you,   Jonathan Davis 01:16:17 When you 18% you think could   Hunter Bick 01:16:20 Rise. Yeah. Yeah, it could rise. Absolutely. Yeah. When plenty of other cities are sustaining at 30, right?   Jonathan Davis 01:16:25 Yeah. But when you see something at, at 28, you're like, hm. You know, Yeah. It might rise a little bit, but there's not a lot of potentially a lot of meat   Hunter Bick 01:16:32 There. And it may not disqualify it either because even, let's say, let's say it's a 28 or 30 for the market, but this particular asset is still $200 below the average in that market. Still a great deal. Right?   Jonathan Davis 01:16:43 Exactly. Yeah.   Hunter Bick 01:16:44 So, you know, so you wanna, you just wanna have the perspective of all that together. The other, the other big one of course is what kind of employers, what's the job base? How stable are these jobs? The case with Fayetteville and you know, we tell the story a lot, but so many people told us we were crazy to be buying in Fayetteville because obviously Fort Bragg is in Fayetteville. That is the biggest military base on the planet by far.   Jonathan Davis 01:17:10 By personnel. Yeah.   Hunter Bick 01:17:11 Yeah. By, by by count is 45,000 active duty soldiers. It is the home of the US special forces and, but then there's another like 30 or 35,000 civilian contractors that work on that base every day. So obviously that's a key economic driver of Fayetteville. No question. They also have a lot of healthcare, higher education. They have other job, the other industries that are doing well and growing. Yeah.   Jonathan Davis 01:17:37 This their support systems all around for for that.   Hunter Bick 01:17:40 Yeah, exactly. So people were like, Well, you're crazy mother, what if Fort Bragg goes away? It's like, okay. It's like, can we talk in probabilities please? Because okay, sure that might happen. But what is the probability of the US government moving the biggest military base on the planet out of fort away from Fayetteville? Why would they do that? That will probably never happen. So, I mean, I'm a former poker player, everything's a probability to me. Let's put a probability on this point. Oh oh 1% maybe? Sure. Maybe oh oh two, maybe oh two. Perfect. I can model that. Yeah. Great. I'm willing to take that chance to buy something that is half off. Yeah. That is half, literally half of what this asset is worth all day long. Yep. No problem. I'm happy with that risk.   Bill Fairman 01:18:25 Now do you still have that asset?   Hunter Bick 01:18:27 We actually did sell that one. Okay. That one we 10 31 into try house. Oh   Bill Fairman 01:18:32 Nice. Now let's start at the beginning. What'd you pay for it   Hunter Bick 01:18:37 For? For Apple Applewood. AK metal metal 0.2 million. Right. 2 million. And then   Bill Fairman 01:18:43 And you sold it, You exited for what?   Hunter Bick 01:18:45 Four three. Four four. And   Bill Fairman 01:18:47 You did that and how many years   Hunter Bick 01:18:50 Was it two years? Yeah, it was 18 months. 1818 months was 18 months was 18 months. I think it was 18   Bill Fairman 01:18:55 Months. So not a bad roi.   Hunter Bick 01:18:58 No, that's going, That's going. Yeah. I wish, you know, I wish all of them were as easy to underwrite as that one and that one, you know, our thing with FA too is like the cash on cash yield for buying doors at 40 grand a door in Fayetteville when the rents were like 700 average, the cash on cash was ridiculous. It was like almost double digits, right? Yeah. And so we were like, it is only a matter of time until bigger institutions who already love North Carolina noticed this. Yep. And these properties are gonna bid up like crazy cuz the cash yield is so good. And so we, everything we could find under, I think under 50 a door, like we bought a couple hundred doors under 50 a door and we didn't say no, whatever it was, we just, we said we had figure out to own this and that's what we did. And just a couple years later, man, I mean a hundred a door on average, I've seen things straight for 1 25 a door in Fayetteville. Like Yep. Decent bs not even a's or anything. The A is over 180. Yeah. You know? Exactly. So that did end up happening. So we were fortunate there, but trust your analysis, you stick your guns   Bill Fairman 02:20:00 As these larger markets and, and even Charlotte is not exactly a major market. It's approaching one, but it's the largest market between Atlanta and say DC Yeah, right. So we'll, we'll   Hunter Bick 02:20:13 Call it And multi in multifamily is a major market though.   Bill Fairman 02:20:15 Yeah. Well, we'll call it a major market. That said, how do you, how do you find or how are you marketing to get properties in these smaller tertiary markets?   Hunter Bick 02:20:28 Yeah, I mean really just building relationships. You know, one of our partners, you don't know Margaret, do you, We don't only do much, you know, one of our partners, his, his primary focus is, is our deal sourcing. And without, you know, we talk about this a lot, but without a deal that has a lot of money, you know, money made on the buy basically like built in equity off market has a lot of upside. Once you fix the problems, you can, you can come up with the most brilliant financial strategy in the world and you can be the best operator once you own it. You can be the best operator in the world and you can have the best construction crew in the world, but none of that's gonna matter if you overpay for a deal. Sure. Like you can't engineer your way into a great return if you're overpaying at, at the beginning. And so, but do we always   Bill Fairman 02:21:16 Say you make your money on the bank?   Hunter Bick 02:21:17 Hundred percent. Absolutely. Even   Jonathan Davis 02:21:19 In multi-family money. Even in   Hunter Bick 02:21:20 Multi-family or you   Jonathan Davis 02:21:21 Have forced appreciation because you can only force that appreciation based off of the cap rate, the capitalization rate in that area. And you can only force it to market rents and maybe slightly above. So it's, there's, there are limitations even there.   Hunter Bick 02:21:37 Absolutely. And, and so, you know, we realized pretty early we're like, look, we have to have, we have to be able to find off market deals that need a ton of work and have a lot of upside. And and that's really, that's really where it starts and makes   Jonathan Davis 02:21:52 Me think of what's, was it that one off of Arrowwood   Hunter Bick 02:21:56 Victory aka Greenwood Village Town Homes.   Jonathan Davis 02:21:59 That's okay. Greenwood. Yeah. So this was in Charlotte and what was it, 24 units, is that right? 24   Hunter Bick 02:22:07 Doors, Yeah, 24 doors. Town   Jonathan Davis 02:22:08 Homes. And   Bill Fairman 02:22:09 They were big units too. They   Jonathan Davis 02:22:11 Were, they were   Hunter Bick 02:22:11 Beautiful. It's a cool property.   Jonathan Davis 02:22:13 I'm, I'm, I'm going off here, but didn't you like, wasn't that the highest per door sale for a B asset in Charlotte?   Hunter Bick 02:22:21 I believe it was. That's what the broker said. Yeah. And that was a good exit and I think those guys did, did well on the purchase. I mean it was just a rapidly improving part of town, so they hoped they did well with it. Yeah. But yeah, then we sold that in the one 30 s for   Jonathan Davis 02:22:38 One 30 a   Hunter Bick 02:22:39 Door ish. Yeah. Something   Jonathan Davis 02:22:40 Like that. And what'd you buy it for a door? Do you remember?   Hunter Bick 02:22:43 I need a lot of work. I mean we, we put in Yeah. 30 a road.   Bill Fairman 02:22:49 Yeah. You you did a lot of work on   Hunter Bick 02:22:51 That place. Yeah. Yeah. It was a total redo that   Bill Fairman 02:22:54 This place was located off the nations for road, but you had the south end was kind of creeping up towards that area and it, it was a neighborhood that was turning around   Hunter Bick 02:23:05 And that big cpcc campus right   Bill Fairman 02:23:07 Across the street from CPCC campus down there. And you guys did a nice job going in and rehabbing that place too. Well thanks. It had great large apartments. It had three bedrooms in some of 'em,   Hunter Bick 02:23:21 Didn't it? Yeah, I think two thirds of 'em were three beds.   Bill Fairman 02:23:23 Yeah. So it's, it may have been a B property to start with. When you get a lot of room like that there are, you know, larger families that are moving temporarily because they couldn't find a home in Charlotte buy because it was so hard to find inventory. And it's, that's the perfect place for people to move in to have larger families too.   Jonathan Davis 02:23:43 And when we say like, you know, A is, you know, new construction, then you have B, C, and even like D properties. So you have the, the c and D level assets, but you also have the c d level locations. So picking up a D level asset in a B location is what Hunter looks for   Hunter Bick 02:24:04 For an a   Jonathan Davis 02:24:04 Location or an a location   Hunter Bick 02:24:05 Motor landings an a location. Yeah. Dset and an A and you know, so that's, that's the best possible. The dset in the A location is like assuming the price reflects the dset, you know? Right. Yeah. That's, that's really the nice, the dream deal. And they're going Fayetteville like that where, you know, they were c minuses in an A minus location and Yeah. You know, you, you just, they'd been ignored for   Jonathan Davis 02:24:31 40 years. I mean cuz think about it. I mean we're talking about Fayetteville cuz that, you know, again, they, they got in there in 20 17, 20 18, which you know, was, you know, a couple years before I think really? I didn't see a lot of activity there until 2019 from other guys.   Hunter Bick 02:24:43 Everybody started noticing   Jonathan Davis 02:24:44 It. Yeah. But I mean you realized quickly it was like anything near and supportive to a base that has 70 plus thousand personnel on it is probably an a minus location.   Hunter Bick 02:24:57 Unless the base goes away.   Jonathan Davis 02:24:58 Unless the base goes away. Which is a, we, you know, we can see at 0.002. So,   Bill Fairman 02:25:03 And what was unique as well about his apartment complex, there was, so there was a certain number of unit units that were kind of like an Airbnb. Right. They had short term, you talking about   Jonathan Davis 02:25:12 Victory or are   Bill Fairman 02:25:13 You talking about the one in Fayetteville? Were, weren't there any furnish   Hunter Bick 02:25:16 Yeah, there furnished to bunch   Bill Fairman 02:25:17 If you had contractors that would come in and wanna stay and, and that's a perfect thing to do in some of these. Yeah,   Hunter Bick 02:25:23 Yeah. And that's not a, depending on we, our system is a lot better. We learned and we learned a ton since a couple of these man, I would love to go back and do 'em again. Yeah. Just cuz like we always learned. I know right. What we do for some of our properties now that are in decent proximity to Fort Bragg, what we do is our property manager has like a, like a furniture rental place and we actually rent the furniture for whatever it is and then charge, you know, upcharge on that to the tenant. That way we don't have to be in the furniture storage, furniture maintenance business. That's a nightmare. So anything, we always look for ways to like smooth out the logistics. You make a little bit less money, but it's more worth Yeah. You make it back in the time.   Bill Fairman 02:26:01 Nice. Absolutely   Hunter Bick 02:26:02 Damage.   Bill Fairman 02:26:04 Get   Jonathan Davis 02:26:04 A question real quick.   Bill Fairman 02:26:05 Yeah, go ahead.   Jonathan Davis 02:26:06 Yeah, let's throw up the question of the week guys if we could. It's got it. All right. So the question of the week is, we want to know what metrics do you look at to identify emerging markets? I know we, we talked about, you know, the, the average rents, the median income. We also look at, you know, migratory patterns. We're looking at, you know, what are some other metrics that you all   Hunter Bick 02:26:38 Look at Who, who the employers are, the employers state, How stable are those jobs? Yep.   Jonathan Davis 02:26:42 Yeah. Is it, is it a medical or a base or is it, you know, a telecom service? You know those, those have different weights to them. Education's good. Yeah. A lot of people work there. It's stable. Yep. Yeah. So what metrics do you all look at to identify emerging markets that we didn't list or maybe something we did list? And you have a better explanation than we do.   Bill Fairman 02:27:05 I will say that North and South Carolina, both are a bunch of medium size cities or are a little smaller than medium size city. We have large populations in both states, but they're not, it's not like Atlanta where Atlanta covers most of the states.   Jonathan Davis 02:27:21 It is Georgia. Exactly.   Bill Fairman 02:27:24 So there's a lot of opportunities spread out all, all throughout the southeast really. Yeah. So yeah. Answer that question. Put it in our, our chat. We'll keep up with and we'll talk about it next week. I hate to do this. We're running out of time before   Jonathan Davis 02:27:40 We run outta time. I have one more thing. It surprised me. It was a metric that I read this morning that surprised me. One like in multifamily starts, the northeast has seen an increase year over year that I did not I, and in a 4.6% increase in multifamily starts Wow. In the northeast. It's only beat out by the south, which is at 5.6, which, you know, every other region is actually declining but the northeast is increasing. I and but we expected the south to, but I didn't expect the northeast,   Bill Fairman 02:28:13 I, I'm wondering if you dig deeper, are those areas that are further outside the larger cities? Cuz people wanted to be a little bit more into the suburbs and there wasn't enough single family housing to support those people have   Jonathan Davis 02:28:25 Remote work, they want more space nexts. They can maybe.   Bill Fairman 02:28:27 Absolutely. All right. So folks, I know we had a great time and but it ran out quickly. So thank you so much for joining us. And Hunter, thanks for being a guest. Thanks for having me. We are Carolina Capital Management. We are lenders in the southeast for professional real estate individuals. If you want us to take a look at one of your deals, please go to carolina hard money.com. Click on the apply now tab. If you are a passive investor looking for passive returns, go to our accredited investor tab. Don't forget to like, share, subscribe, hit the bell. And don't forget about Wednesdays with Wendy. We'll see you next week.

Money Makers
Weekly Investment Trust Podcast with Jonathan Davis (01 Oct 2022)

Money Makers

Play Episode Listen Later Oct 1, 2022 52:49


Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by James Carthew, director of QuotedData; Colette Ord, Infrastructure and Renewable Energy analyst at Numis; and Justin Bell, Property Specialist at Numis. Trusts mentioned this week (with tickers) include: Digital 9 Infrastructure (DGI9), Cordiant Digital Infrastructure (CORD), HICL Infrastructure (HICL), Bluefield Solar Income (BSIF), Octopus Renewables Infrastructure (ORIT), Aquila European Renewables Income Fund (AERS), UK Commercial Property (UKCM), PRS REIT (PRSR). Section Timestamps: 00:13 - Reaction to the mini-budget 01:58 - Review of the week 05:39 - Money Makers Circle 06:05 - Discussion with James Carthew 19:52 - Discussion with Colette Ord 35:40 - Discussion with Justin Bell 51:39 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. In addition to the regular features, this week the Circle features the continuation of Jonathan's discuss with James Carthew of QuotedData. For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to our over 120 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.

Hell Bent For Metal
#94 – All In The Family Shall Perish

Hell Bent For Metal

Play Episode Listen Later Sep 29, 2022 80:41


The gayest straight man in metal, Abhi Ahluwahlia, returns to Hell Bent For Metal. Matt's unwell (get well soon), so the music journalist turned broadsheet journalist is back for a show heavily focused on two of his favourite things: nu metal and deathcore.First up, Abhi and Tom remember 'All In The Family' by Korn, the alcohol-induced rap battle between Jonathan Davis and Fred Durst (of Limp Bizkit) that includes more homophobia than your average English football match. It's a moment that was not helpful to at least one gay kid who heard it at a fairly delicate stage of development – and one that Korn themselves have since disowned.This week's Camp Classic is 'The Past Shall Haunt Us Both' by All Shall Perish, the now-defunct deathcore band who once had the world at their feet. And while it's a fairly small section of the song that Tom's honed in on as being relevant to queer experiences, that doesn't stop a fairly long, sensible (yes, really) conversation happening about it.Plus this week's additions to the Hate Crew Gaybar jukebox are Patient Number 9 by Ozzy Osbourne, Data Renaissance by The Algorithm, and Dedication to Flesh by Spite.

Passive Income, Active Wealth - Hard Money for Real Estate Investing
240 What Financial Freedom Means To Us! | REI Show - Hard Money For Real Estate Investors

Passive Income, Active Wealth - Hard Money for Real Estate Investing

Play Episode Listen Later Sep 23, 2022 26:00


Bill Fairman 00:00:02 Hello, everyone. Welcome to the show. Our whole theme. This month has been about financial freedom and we are going to discuss this, to discuss what financial freedom is for each of us, Jonathan, Wendy, and myself, right after this greetings everyone. Bill Wendy, Jonathan. We are Carolina capital management. And thank you so much for joining us on the real estate investor show hard moneyed, real estate investors. What   Wendy Sweet 00:00:48 We've been running up the steps. You can't get your breath.   Bill Fairman 00:00:51 We have been running around a lot. We're getting   Wendy Sweet 00:00:52 Ready to leave   Bill Fairman 00:00:54 For the quest expo. So we're trying to put all our stuff together. So where was I? Who   Wendy Sweet 00:01:00 Are we and where, what we do?   Bill Fairman 00:01:01 We are here, Carolina, capital management. We are lenders in the Southeast for real estate professionals. So if you have a project that you would like us to take a look at, go to Carolina, hardman.com and click on the apply. Now tab, if you are a passive investor, looking for passive returns, click on the accredited investor tab and get all the information you want there. We would also like for you to like share subscribe,   Wendy Sweet 00:01:27 Tell all your friends, hit the bell, the bell liking the bell.   Bill Fairman 00:01:31 Anything else?   Wendy Sweet 00:01:31 That's it Wednesdays with Wendy? Yeah. Yeah.   Bill Fairman 00:01:33 Nope. Nope. Not yet. We have a question and answer thingy on the side or underneath. Oh yeah. If you'd like to talk to us during the show and after the show and leave wonderful comments.   Wendy Sweet 00:01:46 Cause we do monitor it bad ones and we answer questions. So it's yes we do. Yeah.   Bill Fairman 00:01:52 Oh, excuse me. Don't forget about when.   Wendy Sweet 00:01:56 Yeah. Now he says, now you're good. That was   Bill Fairman 00:02:09 Cool. We won't go there. But that was a neat little graphic. Wasn't it? Yeah, it was, it was, as I was saying earlier, we're on our way to   Wendy Sweet 00:02:19 Questex quest   Bill Fairman 00:02:20 Quest expo.   Wendy Sweet 00:02:22 Yeah. Which is in Houston, right?   Bill Fairman 00:02:25 Yes. I was waiting for the final quest expo graphics.   Wendy Sweet 00:02:31 So ETT Smith will be there. I'm excited about that. I really like him. He's he's pretty awesome.   Bill Fairman 00:02:36 Yeah. I got to meet him about five years ago at another conference. He's been, I'm not about that. He a real estate investor for many, many years. So he's not just there because he is a pretty   Wendy Sweet 00:02:44 Face. He's not just a pretty face. He's a smart guy too. That's   Bill Fairman 00:02:47 Awesome. By the way, the Wednesdays with Wendy, you can get on her calendar because she's usually booked up a couple of months in advance and it's gonna be over there in the comment section. So just click it on and get on our calendar there. Yeah. Yeah. So if you haven't got your tickets yet for quest expo, I'm sure you can get 'em at it. It's   Wendy Sweet 00:03:08 Not too   Bill Fairman 00:03:08 Late at, at a discount with using our code. Yeah. But your airplane, ticket's probably gonna be pretty expensive.   Wendy Sweet 00:03:15 Yeah. Unless you're already in Houston because for   Bill Fairman 00:03:17 Close by. Yeah. Or you could drive there. Yeah. All right. So let's get the breaking news.   Wendy Sweet 00:03:44 The, the sky is falling.   Bill Fairman 00:03:45 How many of you have surround sound on your device that you're listening to us? Rob?   Jonathan Davis 00:03:50 I was gonna say, you know,   Wendy Sweet 00:03:51 The sky is falling. Stocks are falling.   Jonathan Davis 00:03:53 The, the fed raises are up the fed raised at 75 bases points. Volker is proud. Vulgar is gives the chairman from the early eighties.   Wendy Sweet 00:04:08 Voker yeah.   Bill Fairman 00:04:09 Yeah.   Wendy Sweet 00:04:09 It's   Bill Fairman 00:04:10 Been a while. So here's to sum up our breaking news rates are high stock market low   Jonathan Davis 00:04:16 To, to, to sum rates are normal. Yeah. Yeah. For answer normal. They're not high higher. They higher than, than the historic low of 1.9. 5%. Yes.   Wendy Sweet 00:04:28 Yes. But, but, and people need to remember that when the fed raises the rates, mortgage rates usually drop a little bit. So,   Jonathan Davis 00:04:37 Well the average just crossed the 6% to 6.02. Oh, I know. Well, I mean, it's up from 1.95. So you're, you're sitting at like, yeah, right at six and you   Bill Fairman 00:04:50 Know, so the fed chairman and this comments and press conference afterwards basically said, we're gonna have another 75 basis points to raise in January. They'll at that point, they're gonna let the data, see where it goes. But frankly,   Wendy Sweet 00:05:11 Prices come down on everything. Yes.   Bill Fairman 00:05:13 But they're looking at 2025 before they think, right. We will be out of a recession, so to speak. They, they keep saying, they don't know whether it's gonna be a recession or not, but it's gonna take until 2 25 to work this through the system. They want to have a higher unemployment rate and they want,   Jonathan Davis 00:05:36 We're not sure if it's a recession, but if it is, that's what we want. It'll be 20, 25 before it's over. Yeah. But we're not saying it's,   Bill Fairman 00:05:43 It's, it's gonna take a while to move all this thing through the system. Yeah. That said they   Wendy Sweet 00:05:47 Want prices to come down. That's bottom   Bill Fairman 00:05:49 Line. I'm pretty old. And I have lived through many, a downturn. I remember before I even got my driver's license sitting in the gas lines, I bought my first house when Jimmy Carter was president.   Jonathan Davis 00:06:02 Oh, I thought they were on steam at that point.   Bill Fairman 00:06:05 But my pretty much my, my whole point to this is it's not the end of the world. You just have to manage your expectations. Gotta   Wendy Sweet 00:06:13 Roll with the changes should   Bill Fairman 00:06:15 Be something. And there, there have been real estate investors when rates are high, the real estate investors, when rates are low, when prices are high and when prices are low, that's the thing about being a real estate investor is that you're a problem solver. That's right. And there's always gonna be problems.   Wendy Sweet 00:06:32 That's right.   Jonathan Davis 00:06:33 Right. I don't know. Sometimes I feel like I'm a problem survivor.   Wendy Sweet 00:06:37 It does feel that way. Sometimes   Bill Fairman 00:06:39 You're a problem creator.   Jonathan Davis 00:06:42 Well,   Bill Fairman 00:06:43 But if you know how to create him, you know how to fix him. Right.   Wendy Sweet 00:06:46 He's just, practicing's putting on practice for himself. That's   Bill Fairman 00:06:48 Right. So our theme this month has been, you know, financial freedom, how to get there. Your   Jonathan Davis 00:06:55 And members go ahead. Before, before we get there, just, just to give a little more backstory or not backstory, a little more data. Like for the inflation numbers we are using inflation is, is measured year over year. So it's, you know, August of this year to August of last year. Well, we didn't cease inflation above 3% until October of 2021. Right? So this October, when we can compare those first inflationary numbers to the year over year, that's gonna give us a better idea. That's gonna give the fed a better idea of what's going on. Right. Is it, is it, is it staying around seven to 8%? Is it nine? Or is it, is it two? You know, and if, if those numbers come out and they're a lot lower, then that that rate probably won't happen. That rate rise won't happen in January, but with what three and a half percent unemployment, 11 million jobs still unfulfilled, you know, everyone's fighting for talent and over, I'll use the word overpay   Wendy Sweet 00:08:03 That is everybody doing for work? I don't understand. Yeah. Where did all the employees go?   Jonathan Davis 00:08:10 Well, and so everyone's fighting for new employees or the, the higher and they're overpaying and now will, and it is   Wendy Sweet 00:08:16 Overpaying. Oh yeah, no doubt.   Jonathan Davis 00:08:17 And that is one of the key ingredients to inflation. Yeah. And that's one of the key ingredients to the inflationary numbers and why they're so high is the, the income, or I guess the, you know, the average salary or monthly, you know, wage has increased dramatically in a short period of time,   Wendy Sweet 00:08:35 $15 to flipping a hamburger. That's pretty strong.   Bill Fairman 00:08:39 Well, to me, it's the energy that's what's causing inflation. Energy is a part of every single piece of our economy. Well,   Jonathan Davis 00:08:50 Gas is going down bill   Wendy Sweet 00:08:52 Way down. That's,   Jonathan Davis 00:08:53 It's not $5 anymore.   Wendy Sweet 00:08:55 I just paid for 4 29 a gallon this morning.   Bill Fairman 00:08:59 But if we continue to try and listen, I'm, I'm in awe of the above, but you can't just cut one off and start another. Right. Because right now the other is not very reliable and it's not inexpensive to operate. Yeah.   Jonathan Davis 00:09:15 Yeah. And the question, I think Scott said, well, wages drop. Yeah. The question is when, cause   Wendy Sweet 00:09:22 You know, as soon as we have an Bundance of employees, well,   Jonathan Davis 00:09:24 It's, it's that, but you know the cause what, what is that doing with those higher wages it's causing the cost of goods to, to go up,   Wendy Sweet 00:09:32 Continue and shipping costs too. I mean, that adds a whole lot to it. That's gonna be hard to reverse that. I   Jonathan Davis 00:09:38 Think, yeah.   Bill Fairman 00:09:39 I disagree with you. Okay. I think love it. I think, I think wage point counterpoint wages, wages are sticky. You can't even say, and you can't once you've you can't put the toothpaste back into two.   Wendy Sweet 00:09:50 Yeah. That's true. However,   Bill Fairman 00:09:51 They can find other ways to be more productive so they don't have to pay as many people. Does that make sense? Like more,   Jonathan Davis 01:10:00 I would agree with you if we, if we passed a law federally that the new minimum wage is $15 an hour, if that had happened, I would agree with you. However, that has not happened. And wages are dependent on where you are. Yeah, no agree. And the federal mandate is seven and a quarter still or the seven and a half. Right. There are at seven. So is it sticky because it's double what the minimum wage requirement is. I'm not sure I'd use the word sticky   Bill Fairman 01:10:33 Again. That's good. It's a lot like real estate it's location.   Wendy Sweet 01:10:38 Yeah. It is location driven.   Bill Fairman 01:10:39 And when, when you, when we end up and what the fed is hoping for is that we have a higher unemployment rate. Sure.   Jonathan Davis 01:10:46 Yeah.   Bill Fairman 01:10:46 Because you're, they're trying to take demand and get rid of it or at least lower it. And that's how they cure their, the inflation. Yeah. That's a sticky   Jonathan Davis 01:10:58 Question. Thank you.   Bill Fairman 01:11:00 But they're trying to do demand destruction right now and that's gonna cause unemployment rates to go up, which means fewer people will have jobs, which means there won't be as high a demand on increasing wages. Yeah.   Jonathan Davis 01:11:16 At   Bill Fairman 01:11:16 That point.   Jonathan Davis 01:11:17 And to clarify, no one, no employer is going to say, oh, now instead of paying you $15 an hour, we're gonna lower you down to 12. Right. Right.   Wendy Sweet 01:11:25 That're just gonna,   Jonathan Davis 01:11:26 That doesn't happen either. You have you a turnover and that person leaves or you help them leave. Right. Yeah. And then you hire in, at a lower   Wendy Sweet 01:11:35 Wage, right?   Jonathan Davis 01:11:36 Yeah. Or the other side of it is the wage appreciation just becomes stagnant. And that way it allows, you know, the cost of goods to catch to lower, which   Wendy Sweet 01:11:48 May be the 20, 25 number might   Jonathan Davis 01:11:50 Be, you know,   Bill Fairman 01:11:51 You get back to contract employees. That's where, where a contract employee started anyway, as wages were going up. And I, I don't wanna single at any particular company, but go ahead. Bank of America used to do that all the time. Yeah. They would eliminate certain departments or eliminate people in departments. They would lower 'em but then they would end up no same people would get jobs with contractors that were doing the same jobs they were doing before. But now they're working with another company who was under contract with bank of America, making less money. Yeah.   Jonathan Davis 01:12:22 Yeah.   Bill Fairman 01:12:23 And they didn't have to pay 'em benefits. And that kind of,   Jonathan Davis 01:12:25 I feel like you just proved my point. Well,   Bill Fairman 01:12:27 He I'm saying wages are sticky, but there's other ways to make 'em less expensive for the   Jonathan Davis 01:12:33 Less, less sticking.   Bill Fairman 01:12:35 Yeah. Less.   Wendy Sweet 01:12:36 I wonder too, what, how higher education is gonna come out on this? You know, because you know, to go to college, now you have to take out a loan. It's pretty sad. But, but it's, it's almost imperative that, that you borrow money to go into college unless your parents have been able to save money for you or you've worked to make that happen   Jonathan Davis 01:12:58 Or you don't   Wendy Sweet 01:12:59 Go that's right. And, and you know, I hate that they're considering this $10,000 or they might have already proved it. Reduction on what's owed on, on college education. I hate that they're doing that. We're teaching people not to be responsible, but I, I, you know, the college college tuition should come down. I don't know that it will, but I do believe there are a lot of people that will be coming out of high school learning trades rather than paying those high college prices.   Bill Fairman 01:13:34 There's a Senator. I hope that it is introducing a bill that wants the colleges to pay half that bill and also be more open about the income that their students, after they graduate are earning and that type of thing. And one of his comments was that he's tired of the universities charging extortion amount for tuition while teaching stupid stuff that has never happen. Like men getting pregnant.   Wendy Sweet 01:14:06 Yeah. That's a good one. Now. I don't   Bill Fairman 01:14:09 Know. I don't know how, how far that will go through, but at at least they're bringing it to the attention. All right. So we we're,   Wendy Sweet 01:14:18 I know we're close. We gotta keep moving.   Bill Fairman 01:14:19 We've been, we've been rattling on about the breaking news now. Yeah. For almost the entire session. Yeah.   Wendy Sweet 01:14:24 We're gonna solve the   Bill Fairman 01:14:25 World's problems. What's financial freedom to you, Jonathan.   Jonathan Davis 01:14:28 What is financial freedom to me, man? That I can, yeah, just up in it is appreciation depreciation and cash flow. Like that is what financial freedom is to me. What do I mean by that? It means I was, I was having a conversation with friend today and you have friends.   Wendy Sweet 01:14:52 I do have friends one at least one.   Jonathan Davis 01:14:54 Yeah. They'll never admit to it. But we were talking about how the credit unions are being saturated with more and more money because now the savings accounts are paying over a percent.   Wendy Sweet 01:15:08 Woo.   Jonathan Davis 01:15:08 What they're paying over percent. Wow.   Wendy Sweet 01:15:10 And   Jonathan Davis 01:15:11 You know, that's one of the things, you know, I think I use the word stupid money, but yeah, no, I, I still I'll keep with it. The stupid money.   Wendy Sweet 01:15:19 Yeah.   Jonathan Davis 01:15:19 Puts all their money there. Cuz I can make 1%. It's been paying 0.2, five before, but now can make   Wendy Sweet 01:15:25 1%. That's right. That's right.   Jonathan Davis 01:15:26 And inflation is how much, like you are losing at an eight, a negative eight one rate ratio. Right. So how about don't do that because you're giving them free money to lend out which well, you know, on the, on the lending side, people love it because that's what we were talking about. Like friend, he, you know, he would use their money to buy multifamily, but I guess I'm getting a long way. Like don't put your money there, put it in an asset that appreciates over time allows you to depreciate on your taxes for capital expenditures and then also gives you cash   Wendy Sweet 01:16:04 Flow. That's right. Like   Jonathan Davis 01:16:05 If you can, if you can cover all of those things, you will outpace inflation. You will outpace the stock market and you will be financially free. Now it's not an easy road. I was having dinner with a, with a guy the other day and we were talking about how expensive it can be, especially right now to own real estate and stay in it and not just sell or, or become a whole seller or   Wendy Sweet 01:16:31 What have you. Yeah. Taxes are up.   Jonathan Davis 01:16:32 Taxes are up all, you know, they've reassessed all the values when you know, they won't be reassess. Well they have to do it every five years. Yeah. It'll be a while. They won't be doing it at any time soon. Yeah. Right. So us taxes are gonna stay high. Yeah. So it is expensive and it is, it is difficult and it's not the easy path, but it is the one that leads to financial freedom.   Wendy Sweet 01:16:52 I agree. I agree. So for me, financial freedom is one sentence. My money working for me instead of me working for money. Yep. That's that's the bottom line and which is really what you're talking about. Yeah. I, I, you know, I will never retire and I let me knock on wood. When I say that I have no intention to ever retire and walk away from working. I enjoy it. You know, I I've got like a serious, you like having you around, well, I, you must want something. So I love real estate. I have a serious passion for real estate. All that entails real estate notes, you know, rentals, self storage, apartments, whatever it is. I love everything about real estate. It's just a passion for me. I don't ever wanna stop learning more and being involved in the art of the deal, which is my favorite part of real estate. I don't ever wanna stop that. But what I do want is the opportunity to say, I don't have to do this if I don't want to. Right. You know, I want my money to work for me. I wanna be able to go to sleep at night and know that I've got money. That's being deposited into my account. You   Jonathan Davis 01:18:09 Know? And, and you mentioned the art of the deal. I mean, that's one of the pieces of financial freedom is that when, when you do have that knowledge base and that drive and that, that determination to do deals and that desire, like you need the space to be able to do so. So part of that freedom is having the space to analyze deals, to look at them, cuz you can't analyze and look at deals and close 'em. If you're out there scrubbing toilets or cleaning up your   Wendy Sweet 01:18:36 Rentals. That's exactly right. So that's exactly right. And you know, a lot of people will say that part of their financial freedom is being able to lead their children a legacy, but they   Jonathan Davis 01:18:46 Can build their own legacy.   Wendy Sweet 01:18:47 I that, and you know what, I think I must be a terrible parent cuz I don't feel that way at all. I mean, sure. I would never want my kids to suffer, but my legacy to them is teaching them what I know, teaching them, what I do and their relationship with Jesus Christ is, you know, the number one legacy I'd love to, to leave with them so that they're always seeking him in what they do. But you know, I don't wanna leave a bucket full of money for them.   Jonathan Davis 01:19:13 We, I go back to, you know, Scott Patton who's, you know, running the show for us. One of the things that he said was, it's a saying, I think in Canada, short sleeve, long sleeve, short sleeve, and you know, the short sleeve is the guys out there working in the fields or, or what have you do a manual labor. And then they're, they, they build a legacy and then their sons become long sleeve. They, you know, work in an office, they get, you know, soft whatev what have you. And then the next generation of short sleeve again, because they had a soft generation prior. Yeah. So yeah. Good point. You want to instill more than more than you wanna hand out dollars to your kids or assets. You want to hand out,   Wendy Sweet 01:19:52 Give more fish and pole,   Jonathan Davis 01:19:53 Give em work ethic and the ability to, to do   Wendy Sweet 01:19:57 Things. That's right.   Bill Fairman 01:19:57 All right. So for me,   Wendy Sweet 02:20:00 We're out of time too   Bill Fairman 02:20:01 Close. Well   Wendy Sweet 02:20:05 That's airport   Bill Fairman 02:20:06 Financial freedom for me is doing what you want with whom you want when you want and not have to worry about where you're doing it. You know what I mean? At the   Wendy Sweet 02:20:18 Bar, you   Bill Fairman 02:20:19 Can go anywhere. You want to go and not have to worry that you're not being able to maintain that same lifestyle. Right. And with real estate, well here right   Jonathan Davis 02:20:29 Now, here's, I've heard transient people say they do that.   Bill Fairman 02:20:33 The, the stock market game right now, if you're a stock market person here's on now that the market is dropping here is the defensive play I'm gonna get into treasuries because the person that loses the least is the winner.   Wendy Sweet 02:20:50 Yeah. Now   Bill Fairman 02:20:51 How is that? How is that investing that is just grasping on to not losing when you're in real estate, you have an asset that continues to go up in value and it's paying you an income. And your whole goal there is to have essentially a balance that increases in value that you can live off of at the same time and keep that same lifestyle. Right. Right. And you wanna do it as passively as possible. So you can do what you want with whom you want when you want and where you want,   Jonathan Davis 02:21:22 You know, just finished up a, a book called mandals. And it's about, was   Bill Fairman 02:21:27 It a look about Dennis?   Jonathan Davis 02:21:28 It was not, you know, it was their actually their last name, not their, not their job, but   Wendy Sweet 02:21:35 What was it called   Jonathan Davis 02:21:36 Again? The mandals. So   Wendy Sweet 02:21:37 The mandals. Yeah, the mandals. Yeah, the   Jonathan Davis 02:21:40 Mandels okay. And it's, it's a dystopian book, very well written around economics. It's a lot of, you know, you get on professors, our characters in the, in the book, but basically it takes you, it's taking you through kind of what we're going through now. And then, you know, extrapolating that to like the worst case scenario. Yeah. Like the, the fall of, you know, our economy. Wow. Which in the book is, you know, because of some external forces as well as internal forces. But the thing that struck me in the book was with 30 and 40% inflation rates that they're, you know, talking about in the book on groceries and what have you, the only winners, or I don't even say you can say winner. The only people who survive at a semi comfortable rate are those who own real estate and those who own energy and those who control the produce. Interesting. Those are the only people who are doing okay. And just, okay. But again,   Wendy Sweet 02:22:45 So I got the chickens and the, the real estate covered. Yeah.   Jonathan Davis 02:22:50 Well, cause you   Bill Fairman 02:22:51 Just need to get the energy part that's right. Figure it out   Wendy Sweet 02:22:54 Really well.   Jonathan Davis 02:22:55 It's, it's a really good book. I've been listening to it on audible. I was actually, I listened to it, a good portion of it driving six hours. And I remember like, it sucks you in so well, it makes you feel how poor and awful things can be. I remember stopping at a gas station after listening to it. And I saw that the gas was like three 90 something, a gallon. I was like, I can't afford this. How am I gonna do this? And they're like, wait, wait, no, I'm, I'm not there. I'm here.   Bill Fairman 02:23:24 I'm not the book. All right. Folks. We were hitting out to. All right. Yeah. We gotta ask the question. Yeah. Our question for this week is would you like   Jonathan Davis 02:23:40 To take yeah. Yeah, sure. So with the stock market in, let's say turmoil cause it's right there. Yeah. Turmoil, tumultuous, tumultuous time is your money management in alignment with your goals? We we'd love to know that. I know a lot of people who have talked we've bill, Wendy, and I we've all talked to people who are moving money out of the stock market, which, you know, I understand, you know, six months ago would've been better, but you know, they feel that way too. Yeah. You know, what, what are, what are your goals? And you know, are you moving money outta stock market? Are you keeping it in? Are you moving into other assets? Which we'd love to know. Yeah.   Bill Fairman 02:24:24 You can't, you can't win when you're trying to time the market. Not too many people do. Right. Same thing with real estate. You don't time real estate. You get in it and you get in it at a price that makes sense for the numbers. Yeah. Same thing with the stock market. It's you get in with the numbers. Make sense. Yeah. But you certainly are gonna have less fluctuations and you're gonna have an asset that continues to grow in value in, in real estate. So folks, I'm gonna switch you over here to nothing about everything about me. Anyway. It was great. Having you on the show. We are Carolina capital management. This was the real estate investors show hard money for real estate investors. Like I said, we're Carolina capital management and we are private lenders in the Southeast for real estate investors. If you have a project you'd like to take us, you'd like for us to look at, go to Carolina, hard money.com and click on the apply. Now tab, if you're a passive investor and you wanna   Jonathan Davis 02:25:25 Get outta the stock   Bill Fairman 02:25:26 Market, looking for passive returns, go to the accredited investor tab. Don't forget to like share, subscribe, hit the bell. Hopefully we'll see you guys in Houston for quest expo this weekend. Don't forget about Wednesdays with Wendy. See you next week.

Peace of Christ - Sermons
September 18, 2022 "It's Not Your Fault” - Rev. Dr. Jonathan Davis

Peace of Christ - Sermons

Play Episode Listen Later Sep 18, 2022 16:10


From week 3 of our series, To Our Younger Selves John 9:13-40

Money Makers
Weekly Investment Trust Podcast with Jonathan Davis (17 Sep 2022)

Money Makers

Play Episode Listen Later Sep 17, 2022 55:08


Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by Nick Greenwood, manager of the MIGO Global Opportunities Trust and Matt Hose, alternative assets analyst at Jefferies. Next week, the podcast takes a break while Jonathan is on holiday but it will return on 01 October. We are aware of an issue that affected delivery of last week's podcasts to some listeners who subscribe via Apple Podcasts and we apologise for the inconvenience. Should you experience any difficulty accessing the podcast through your usual channel, the latest edition of the podcast is always available at the Money Makers website (money-makers.co/podcasts) Trusts mentioned this week (with tickers) include: The Sustainable Farmland Trust, Independent Living REIT, Pantheon Infrastructure (PINT), Third Point Investors (TPOU), Baker Steel Resources Trust (BSRT), Dunedin Enterprise (DNE), Chrysalis Investments (CHRY), Macau Property Opportunities Fund (MPO), Georgia Capital (CGEO), VinaCapital Vietnam Opportunity Fund (VOF), Greencoat UK Wind (UKW), The Renewables Infrastructure Group (TRIG), International Public Partnerships (INPP), Digital 9 Infrastructure (DGI9), Hipgnosis Songs Fund (SONG), Round Hill Music Royalty Fund (RHM). Section Timestamps: 00:40 - Summarising the week 03:25 - Money Makers Circle 03:47 - A discussion with Nick Greenwood 32:23 - Results and corporate news highlights this week 36:23 - A discussion with Matt Hose 54:17 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to our over 120 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.

Passive Income, Active Wealth - Hard Money for Real Estate Investing
The Meaning of Financial Freedom | REI Show - Hard Money for Real Estate Investors

Passive Income, Active Wealth - Hard Money for Real Estate Investing

Play Episode Listen Later Sep 16, 2022 32:33


Bill Fairman 00:00:00 I don't even see it up there. Oh, hi folks, bill Fairman here. We are going to talk about what freedom financial freedom actually means to you right after this greetings from the grand downtown rock hill, South Carolina. Woohoo. We are Carolina capital management. Thank you so much for joining us on the real estate investor show hard money for real estate investors. Wendy reminds me. I have to smile.   Wendy Sweet 00:00:57 You can do it. You can talk. At the same time.   Bill Fairman 00:01:00 We are Carolina capital management. We are private lenders in the Southeast for real estate professionals. And if you have a project that you would like us to take a look at good Carolina, hard money.com, click on the apply. Now tab. If you are a passive investor looking for passive returns, then click on the accredited investor tab. Don't forget to like share subscribe, hit the bell. And don't forget about Wednesdays with Wendy. Wow. That   Wendy Sweet 00:01:35 Was cool. And short and sweet. And it matched my junior high school school colors. That's   Bill Fairman 00:01:40 Right. Very nice. So Wendy donates 30 minutes of her day per person on Wednesdays to talking about real estate. She's usually booked up a couple of months in advance. So there's the link. It will be over in the comments and questions side, which is either gonna be on the right hand side of your screen or underneath, depending on the platform that you are viewing us from. Well, since we teased it last week, this show is recorded.   Wendy Sweet 00:02:08 That's   Bill Fairman 00:02:08 Right. So we don't have any breaking news because that would've been last week's news.   Wendy Sweet 00:02:12 That's right. We don't know. We can't see into the future. Although sometimes we claim that we do, but we really can't.   Jonathan Davis 00:02:18 I mean, when it works out, you have any   Bill Fairman 00:02:19 Additional commentary you'd like to add for the fake breaking news for   Jonathan Davis 00:02:23 The fake breaking news.   Wendy Sweet 00:02:24 Yeah.   Jonathan Davis 00:02:26 No, but no breaking news, but you know, we are, we, we would where we're at, like the first month in 17 months where homes are selling under asking price. Oh   Bill Fairman 00:02:38 Nice.   Wendy Sweet 00:02:38 Yeah. Yeah. That's so amazing.   Jonathan Davis 00:02:39 The first time is 17 months homes are now selling under asking price.   Bill Fairman 00:02:43 It must be a crash.   Jonathan Davis 00:02:45 That's what they would have you believe. Yeah.   Bill Fairman 00:02:47 Do you remember back in the day when people actually negotiated price?   Jonathan Davis 00:02:52 No one knows what negotiation means anymore.   Wendy Sweet 00:02:54 Well, we do now and that's, you know, that's something that investors really need to, especially wholesalers. And rehabers really need to understand that because if you're using cops from six months ago, they're not real, are they? They're real. They're just not relevant. Yeah, that's right. You need to use the ones from, from very, very, you know, past 30 days or less, or from the future, you know,   Jonathan Davis 00:03:15 You can do that,   Wendy Sweet 00:03:17 Which is what we do   Bill Fairman 00:03:19 Kind of our point here is that you don't wanna hear, you don't wanna listen to the noise. The noise is just that it's noise. We were not in a normal market. We haven't been in a normal market and several years. Yeah. It has been crazy out there. And all we're doing is we're coming back   Wendy Sweet 00:03:34 To reality,   Bill Fairman 00:03:35 To a normal market. And we're still above the, the normal market. Yeah. Yes. I mean, we really need 60 to 90 days on market for homes and we still don't have that yet.   Jonathan Davis 00:03:46 I mean, the, the average home value, I think is like 3 75 now, which is way more than it was two years ago. Yeah.   Bill Fairman 00:03:52 And listen, I don't see the days on market slowing down an awful lot. I mean, it's gonna come down. I get it. But we, we still, yeah, but   Wendy Sweet 00:04:02 We change, sorry. We had this   Jonathan Davis 00:04:04 Conversation the other day and it really got me   Wendy Sweet 00:04:06 Stop limit me around.   Bill Fairman 00:04:08 We still have a housing shortage out there. We're about 5 million behind on new homes. Yeah. And we still create households. People still need a place to live.   Wendy Sweet 00:04:16 Rents are going up.   Bill Fairman 00:04:17 All right. So I'm going to pause right now for another fancy David Phelps moment.   Jonathan Davis 00:04:32 I just took a deep breath, man. That's how I feel when I'm around David. So yeah, that's really, really relevant.   Bill Fairman 00:04:38 David has been gracious enough to give us two shows. He's an awesome guy, great friend of ours. Let's bring him on. Thank you so much for joining us. David   David Phelps 00:04:49 Brush off the beach. I'm here.   Wendy Sweet 00:04:51 You get a sunburn from that.   Bill Fairman 00:04:56 So one of the great things that you do is you teach people, mainly private professionals,   Wendy Sweet 00:05:05 Doctors, dentists, but,   Bill Fairman 00:05:06 But anybody that wants to learn, cuz you have a lot of books out there about this too, is about being financially independent and, and free. So what does it mean to be financially free?   David Phelps 00:05:20 It's to have enough income, enough cash flow that's produced by investments. I like, I like asset based investments. So asset based income that will produce the cash flow that you need for your essential lifestyle, whatever that lifestyle is to me, that's financial freedom. And we'll go into more depth on what that, what that allows people to have, why I think it's important, but essentially financial freedom gives you choices and options. If you don't have to go to work or keep the business running or operating the way you've been doing it or putting up with certain people or clients or whatever it is you think you have to do when you have, when you're financially free, you can change the model. You can try things, you can test things, you can take new ideas on it. And that's that's I think the, the real goal in being financially free, it's not to do nothing.   David Phelps 00:06:11 It's not to be on that beach that you guys stuck me on for the last week. That was great. I don't, I don't, no, I can't live there forever, which is nice. I, I, I need to be doing something, but I wanna do it the way I wanna do it. I wanna work with people that I choose to work with that. I think we have some, some values in, in, in common that I can actually provide a service or a product that, that they actually appreciate. And there's an exchange for services. It's about the money, but it's at that point, not all about the money and that's what changes your whole mindset about always trying to, you know, eat out enough money to pay the bills and have a nice vacation. And maybe you get a better car. That's just the, the common we call the treadmill last week or the hamster wheel. Jonathan said that too many people are on. And it's just, it's just changing the mindset about how money works that can really change the lives of, of people at any, any dimension in their, their life, whether they're modest income earn, moving their way up or middle income or, or even higher income, which typically they have the hardest problem. High income actually have the harder problem with this than people that are a little bit lower on the scale.   Bill Fairman 00:07:20 Hmm. Interesting. Is, is that, do you think that's because they had that mindset of, they don't know what enough is yet.   David Phelps 00:07:28 Yeah, I think, I think, I think not knowing how much is enough. And then I think also there's that tendency to elevate one's lifestyle because as you earn more money, because you're more proficient efficient, better at what you do, better products or services. That's, that's great. We should all aspire to do that. As the income goes up, then typically it's like, well I need nicer things and there's nothing wrong with that. It's just, don't let that get out of hand. I, I, I'd rather see people make investments that can then provide for the nicer things that they choose to have.   Wendy Sweet 00:07:59 Well, one of the things that, that I think is so important that you teach through freedom founders is you, you allow people to have the fear removed what's gonna happen. If I stop, if you know, highly paid professional is, you know, their business is running great, as long as they're there, but when you're no longer there what's gonna happen. If I stop, how can I stop? I have this great fear of doing that. And you have just done an incredible job of teaching people that they can throw that fear out the window because alternatives, right?   David Phelps 00:08:41 Yeah. And it's, it's not even just to stop Wendy it's, it's just even to, to cut back a little bit or let's just be very pragmatic. It's getting home in time to actually have dinner and maybe go to your kids' soccer games. I hardworking people who just feel like they have to grind to your point. Don't know how much is enough. Feel like that they'll miss the opportunity. If they don't get all they can while they're young and energetic, but they miss out on the very thing that they can regret later in life. When they get to a point of quote retirement, don't like the word, but you know, retirement, but then where are the kids? Kids are gone. It's like, oh, but now I have the time I have some discretionary money. I could actually live my life that you missed out. And so giving permission back, removing the fear that people have by not having to grind and actually take some extra time off.   David Phelps 00:09:32 That's the biggest thing that, that showing people, how investments in alternatives, particularly real estate provides that sustainable passive income that can start to replace the need for the person, the hard worker to have to grind as hard as they grind. So you can start to taper it back. I've got docs that are, you know, in their thirties and forties, you've met many of them. They don't have any, any idea of, of giving up, you know, what they do anytime soon. But they just like the fact that they can actually take, you know, a full day off during the week or maybe a day and a half, or, you know, get it down to three days a week and not feel compelled to have to keep at that grind because everybody else is. And that's like Harrison factor that doesn't serve. Absolutely. That's pretty well at all.   Jonathan Davis 01:10:15 Yeah, no, you know, touch on, on financial freedom. It reminds me of a few episodes back. We had Chris miles on here and Dr. Phelps, I know you watched it, so I'm not gonna tell anything you don't know, but you know, he was on there. He's telling about, you know, the financial freedom model that everyone is prescribed in America. And the world abroad is invest, you know, put money into your 401k, you know, put money in savings. And he gave this, you know, description of his father retired and you know, was gonna draw on his 401k. And he wanted Chris to look at it. And Chris did and said, well, you're gonna have to die in about five years because that's all this is gonna last you. And like, and that was like the wake up point for him and, and his dad apparently too, but like that's not financially free. So, you know, that model of what we're prescribed, doesn't seem to work your model. David, can you kind of, I know you've kind of tiptoed around him, but can you kind of give us a little more of the nuts and bolts and the nuances of what you are telling your people, how to build this financial freedom and that, that maybe isn't 401k.   David Phelps 01:11:27 Yeah. The 401k, the traditional financial retirement model, as you describe it, Jonathan is an accumulation model. It, it is about discipline and discipline's important. That's taking money and, and putting it in a vehicle, this, this case, an IRA or a 401k, that's basically invested by somebody else. Who's gonna choose stocks, mutual funds, bonds, whatever. It might be kind a mixed financial portfolio. And, and that's supposed to just, just, you know, sit in those accounts and, and grow over over the years. Well, they grow. And then of course, then we have a market downturn and, and it, and it drops back down and, and back to contribution level this up and down what retirement requires, or let's just say removing yourself from active income, what it requires is cash flow, not at accumulation. It requires cash flow. The traditional model that we're talking about, the 401k does not provide for cash flow.   David Phelps 01:12:19 The, the whole game there is well build up as much as you can. And then you ask a financial advisor today. Well, how much should that be for, you know, any one person just, they can't give a really clear answer? Well, of course not because the, the, the variability in the economics today with inflation factors and, and all the volatility, they can't really. So what they tell people is just, well, as long as you can keep working, keep working, you know, well that's cause they wanna manage more, more the capital. There's a little bit of a incentive in there for, to keep, you know, keep managing their money. But the problem is they accumulation models based on you have so much. And they try to run these algorithms with this fancy software to say, okay, well, based on how much you've got here, we're trying to forecast, you know, another 25, 30 years down the road, how can they forecast the economic models?   David Phelps 01:13:03 Could they, could they forecast COVID could they forecast all the helicopter money we've had? Can they forecast? No, they can't forecast any of that. How do we do it with cash flow? Well, it's the fundamentals of real estate. As we know them very well is in as real estate keeps pace with inflation. So I don't think it's very healthy for our economy to be running it eight and a half or 9% inflation. The CPA CBI rate that we have now, that's not healthy, but you know what our assets, and you've already talked about it earlier, reds, go up the values, go up. So at least we can keep pace financial model, not, not the case. You start having to deplete that financial model, that accumulation model depleted over time and try not to run out of money. Chris miles talking about his father was looking at that saying, yeah, dad, you, you need to take out this much every year or two pay for your burn rate because there's no cash flow in this model.   David Phelps 01:13:50 It's just, you just stacked it up as high as you could get, but you only stacked up enough to last you five more years. You look at inflation rate today and let's just say, let's just, let's just P it at eight point half percent or even 8% to I do the math in my head, use the rule of cutting two every nine years with an 8% inflation rate, the purchasing power of your dollar or your a hundred thousand dollars or your million dollars, whatever you have is cut in half, cut in half. So you thought you had a million dollars. It was me. That's gonna work really well for me for the next next number of years. Oh, but gee, in nine years it's only gonna be worth half a million dollars. And then in another nine years, it's worth a quarter of a million dollars. How's that gonna work out when you've not attached your, your plan to a vehicle that actually keeps pace with inflation?   Bill Fairman 01:14:35 Very well said very well said. Yeah. And when, when you, when you look at that model as well, it has a lot to do with timing. I, I know our mutual friend, Ryan Parsons and Chris miles. I, I had discussions about this when you use that accumulation model, when you're using the 401k, putting money in the stock market, especially with the 401k we have. And then this is anecdotally, I don't have actual statistics on this, but everyone that I've known that   David Phelps 01:15:05 I'm surprised you don't,   Bill Fairman 01:15:08 That I know that has had a 401k over a period of 20 years, they end up with about the same amount of money yeah. That they had for their contribution and their employer's contribution. They made no more or no less, pretty much in that same ballpark. So having it in the stock market, really, for the most part over that long period of time, all it did was hold it in place.   David Phelps 01:15:32 Well, it's, it's, you know, it's it's wall street, wall street is a, you know, billions and billions of dollars, trillions of dollars platform, major marketing marketing platform, and essentially wall street indoctrinates the majority into thinking that's the plan. And so it's, it's just trying to change people's mindset to say, there is another way to do it, right? It's not as easy as cooking a mouse. It's not as easy as just, you know, having money pumped into your 401k. But if that plan's not gonna work, then I tell people, shouldn't you be considering something different, even if it means you have to do a little work and do get a little education to figure out how this is gonna happen. Doesn't that make sense for you? Otherwise, you're gonna be in a very nebulous place when you want to actually take your foot off the pedal of that active income and actually go into some transition to maybe some kind of retirement model. Whenever that might be, you can't do that with the accumulation model. It's just, it's not, not, it's not there.   Wendy Sweet 01:16:28 Yeah. Well, and just as inflation changes, so does your financial number, you know, depending on what age you are and you know, what's happened all around you, you know, how do you keep up with that change in what your number is? How often should people reevaluate where they are and where they're going?   David Phelps 01:16:52 Well, I think relatively often, and, and most people don't, you know, we talk about in businesses and I think you mentioned earlier, you know, Wendy about, about having, you know, a with, with a business, you know, you have a regular monthly, you know, financial meeting and you go through, you know, the expenses and, and the, the revenues and look at profit. And I think you've gotta do that on the personal side too, whether you do that yourself and you're using a QuickBooks, or you have a, you know, have a accountant or somebody can help you. But I think you've gotta look at it on a regular basis because there is creep even without high inflation there's creep. So you add inflation into the normal creep and, and, and things can get out of hand. So you've gotta keep a real eye on what that creep looks like and realize that, that it, it does increase over time, unless you really are judicious about, about removing the things that are no longer need to be part of that burn rate that we talked about   Bill Fairman 01:17:46 Something you okay, you're always taking a breath. I'm not sure. Well, the good, the good news is I'm taking breaths. So I, I know we all preach diversification in our real estate portfolios, and everyone has different goals with their freedoms, freedom. Some of it is traveling a lot. Some of it is, you know, making sure I have a legacy that I can pass on spending time with the grandkids. Yeah. Good causes that you wanna participate in. Do you feel like it's more important to own actual assets or to be a part of more passive invested in investing syndications funds? Yeah. And again, I, I know it probably depends on, on each person and what their goals are, but we'll just talk about you in your opinion, because of your lifestyle, what you wanna do. Are, are you more in the passive stuff or more in the property holdings? It's extravagant lifestyle driving around that 1996 Toyota. Yeah. Right. It's more of a, it's a Honda accord because they are the most   David Phelps 01:19:07 Reward.   Bill Fairman 01:19:07 It's expensive to operate over a period of time.   David Phelps 01:19:12 I, I think your answer is right. It depends. And it, it it's changed in my life. So when I'm younger and I have much more time than I have money or capital to invest, then it makes sense for me to put the time in and, and really own the specific assets. Like that's what I did. I started buying properties, rental properties. I got into understanding the, the note side or the debt side and, and, and financing properties and carrying paper or buying paper. But basically I was, I was involved in the operational aspect of, of locating, acquiring the, managing the, the, these particular assets when I was younger. And that made sense where I'm in my life today. No, I don't want, I don't wanna talk to another tenant. I I'm done. I'm done with that. I'd rather have somebody else managing my assets. And that's what I call, you know, one degree of separation from your money.   David Phelps 02:20:06 Now, if I'm managing my own stuff, then I'm, I'm, I'm fully engaged with that. I get to call the shots. And so that's control and control's good, but then control also requires time. I want more time back in my life. So I can, I, I can be one degree of separated, separated from my money by investing my money in Carolina capital, because I know bill Winnie and Jonathan, I, I, I get to know you, I meet with you. I break bread with you. I'm inside kind of inside like the boardroom of what's going on with how you're managing my money. That's as best I can get without doing it myself on wall street. I could never do that. I maybe I get some financial reports, but I never actually get to talk to the people, the principals who are actually running operations to really know what's going on inside the culture. You're very open and transparent. You, you talk to people all the time. You have Wednesdays with Wendy and you're you do these shows. And I can really get to know you and decide, you know, are these people that I really know, like and trust. And, and I want to be a past investor in this point in my life. So I think it just mattered depends upon where you are in building your, your game plan, your wealth plan as to how active or passive you might want to be.   Wendy Sweet 02:21:14 And it, the networking is so important in, you know, being involved in a community that has the same values and goals. People that are like-minded that networking is so very important. You know, we we'd love everybody in the world to put their money in our fund, but we also have friends that operate funds and syndications, and that we're happy to refer to other people because we know those operators as well. So, you know, you find one good one, you know, ask them, you know, who else would you recommend? Because we all kind of think alike. We, those of us that think alike stick together, and you've done such an incredible job of doing that through freedom founders, the, the, the group of people that you have chosen not only as trusted advisors, but the people that are coming in as members of freedom founders, it's, it's just amazing how you've been able to pull just the right matchup of people.   David Phelps 02:22:25 It, it is important to surround yourself with people that are like mine have similar, similar values and are on a similar path of, you know, again, in this case, you know, creating freedom, different ways to do that different definitions, but with the same mindset of, of, we don't have to follow the herd. You heard mentality the group, think of you do the 401ks. I mean, it's one of the first things that happened when people come, you know, to our group, right? Is, is they typically have, have the 401ks and they've done all that, but they really recognize very quickly that in a place where they are networked and associated with like-minded people that there is a no like, and trust element to it, that they can go off in a different path and be much more successful as their own financial advocates and not just advocating it to, you know, a platform like wall street.   Wendy Sweet 02:23:13 So, David you've, you've said this before, if your, your, your current self was talking to your younger self, what advice would you give yourself in starting off investing your, your 25 years old? What, what advice would you give yourself?   David Phelps 02:23:34 Well, I, I started about then at that age. And so that was a good thing. I got started. Just make a decision get started. So that's number one. What I, what, what I, what I could have done better. And maybe it wasn't my fault, but I, I, I would've found mentors like local mentors more quickly. And, you know, we didn't, this is back in the dinosaurs where we didn't have smart phones. We didn't have internet, we didn't have Facebook, we didn't have up groups. There probably was some kind of real estate group that, but you know, how do you, you know, I didn't know how to find them. I just, you know, just, I didn't know today, it's so easy to get connected. So I'd say, make the decision get started, but surround yourself, find somebody a group, or, you know, a mentor. What I have found is that, you know, I've been a mentor now to mentees in the same regard that I wish I would've had, where I have deployed capital.   David Phelps 02:24:32 And you do the same thing when you deploy capital with somebody who is, you know, boots on the ground investor, rehabbing houses to fix and flip or hold as a portfolio asset. They they'll, they'll ask you for advice. I mean, the smart ones will, the smart ones say, and of course you're not gonna loan money, unless you think the, the, the business plan is, is relevant, but no, you're there not only to deploy capital with them and help them with that aspect. But also you've got all these years of advice. Why not access that while you're building your plan?   Wendy Sweet 02:25:02 Exactly. That's, you know, that's what I try to tell my kids too. I try to remind them, remember, I've got 61 years of experience. So I, through all that stuff that you're, you're trying to avoid,   Bill Fairman 02:25:15 That's what you're thinking. You're just old.   Wendy Sweet 02:25:17 Yeah, that's true. That's   Bill Fairman 02:25:19 True. I don't need to be listening to them.   Wendy Sweet 02:25:21 It's it is tough. I often say I was never as smart as I was when I was 21. That's   David Phelps 02:25:27 All downhill.   Bill Fairman 02:25:28 Well, David, let's talk about your book inflation. I, I want to plug that, but I also, there's another one I wanna plug. As soon as we're done here, we'll have the link to the Amazon in the chat as well. Let, let's talk about your newest book first.   David Phelps 02:25:47 Yeah. The inflation book we published in April this year, I sort of saw the T leaves of what was probably coming. And so we got, got with it and wrote this book to give people a sense of what, what does, what does this mean in a time of inflation, which we haven't seen in 40 years, really, since the seventies in early eighties, did we not have inflation of this level? And what does that mean to the financial markets? What does that mean for people's retirement plans? What does that mean for, you know, all the financial plans that people put in place, there's gotta be some changes there. And so the book creates a lot of the economic backdrops of how, how this came to be, how we got to here. But most importantly, like what do we do going forward as our own financial advocates? So the books there, thanks for putting the link up.   Bill Fairman 02:26:29 Oh, absolutely. The other one, since we're talking about financial freedom, I want to talk about own your freedom. It's another book that is fairly recent. And you want to talk a little bit about that as well?   David Phelps 02:26:42 Yeah. Own your freedom. I co-wrote with one of my mentors, Dan Kennedy, who has, who I've spent a lot of time with. And so we co-wrote the book we had. We, we outlined it. So didn't really be a lot of the fundamentals of how, how money works, the mindset of money. We each wrote separate chapters, but they, they, they, they cross pollinate each other. So you get to hear two different voices, different experiences. I'm very pleased with that book, cuz I think at a, at a very high level, it has something in there for everybody, no matter where you are in your life, what age you are, there's concepts that it's really a book of concepts. I'm not giving specific strategies about how to go out and you know, flip houses or you know how to invest your money per se. But it's a lot of key concepts that I, I wanna make it an evergreen book that would be kind of a, a really a staple in somebody's library if they chose to, to utilize it.   Wendy Sweet 02:27:35 Well. And then your other book too, I have to talk about this. When we talked about the next gen and what you would say to your younger self, what's the book that is good for your teens and young twenties,   Bill Fairman 02:27:49 The apprentice   Wendy Sweet 02:27:50 Model. Yeah. The apprentice model. That one, I, I gave that to both my kids and both my   David Phelps 02:27:57 Sons. Well, yeah, yeah. Oh, thank you. There. I was looking for it. I should be on a shelf here somewhere close by. Shouldn't have funny how that works. The apprentice model. Yeah. That's a book I wrote a few years ago really to, to focus on next gen younger generation. And, and you know, some of the concepts we talked about today about, about, you know, getting started early and realizing there's different pathways to get to freedom. You don't have to get degree after degree after degree in college or graduate school. It's not, it's not a requirement at all. Now. I'm not saying it's not something for some people to do, but I think there's better pass. And the defense model is really based on a mentor, mentee experience, find people in business or investing or real estate that, that are good people that you value who they are as a person and their values and that they also have some business or investing sense. Just go work for them. I don't care what you make. You know, that's not the important part. It's just go work for 'em for six months a year, get the experience. It's the best thing you can do as a young person before you get out and get kind of roped into to a, a career path, you'll have a much bigger exposure to the world and really what's important for you.   Wendy Sweet 02:29:07 Yeah,   Bill Fairman 02:29:08 Well frankly, that's the way the trades all used to work. Yeah.   Wendy Sweet 02:29:12 The   Bill Fairman 02:29:13 That's why we have a shortage. Tradesmen is because you don't have that apprentice model anymore. And the guidance counselors at all, the high schools pushed you into a four year college and it's   Wendy Sweet 02:29:26 Almost like they get a kickback, isn't it?   Bill Fairman 02:29:28 Well, here, here's the thing. If, if you are, if you have any business acumen at all and you follow an apprenticeship model yourself, you can be in business for five years and then open up your own place and make tons of money   Wendy Sweet 02:29:45 Easily and be happy in what you   Bill Fairman 02:29:46 Do. Yes, absolutely.   David Phelps 02:29:48 David. So yeah. There's I was gonna say there's, there's, there's so many skill outside of a technical expertise skillsets that are transferable sales, communication, marketing, just understanding the operations of the business. Anybody can take those degree or no degree and go run with that. And I think those are important skill sets that, that are missing badly today.   Wendy Sweet 03:30:09 Absolutely. Absolutely.   Bill Fairman 03:30:11 Listen, I, I appreciate you being so gracious. Yes. Thank you. Coming on and spending all this extra time with us,   Wendy Sweet 03:30:19 It's been great.   Bill Fairman 03:30:20 It's been an awesome show. I know it's be beneficial to a lot of folks out there and can't wait to see you in October. Yeah. Weeks, but it's a little more in a few weeks, but it's close enough.   David Phelps 03:30:34 Well, I'm back to the green room, the beach and the Mar   Bill Fairman 03:30:40 Food going now.   Wendy Sweet 03:30:42 Are you gonna be at quest? You're gonna be at the quest event.   David Phelps 03:30:44 I'm not gonna be able to make that one. I can't.   Wendy Sweet 03:30:46 Oh, I hate we're gonna miss you there. Yeah,   Bill Fairman 03:30:49 Well it's okay. It's hot and humid.   Wendy Sweet 03:30:50 That's right. Well who lives there?   David Phelps 03:30:53 Not the hotel, the hotel.   Bill Fairman 03:30:59 So anyway, thanks again for joining us. Thank you, Dave folks.   David Phelps 03:31:04 Good. See you.   Wendy Sweet 03:31:11 Yeah.   Bill Fairman 03:31:11 Okay. So I forgot something, which is our question of the week. What is your financial focus? Priorities values is your money management in line with all of that. And you can leave a comment in the comment section and we will get to the answers on the following show. Since we're doing all these in advance, it's hard for me to keep up with them. Anything else we need to put?   Wendy Sweet 03:31:40 Yeah. Just say, bye.   Bill Fairman 03:31:41 Okay, bye. So, oh, we're back. They're gonna mess with me now. Thank you so much for joining us on the real estate investor show hard money for real estate investors. We are Carolina capital management, private lenders in the Southeast for real estate professionals. If you have a project you'd like us to look at, go to Carolina, hard money.com and click on the apply. Now tab, if you are a passive investor looking for passive returns, click on the accredited investor tab. Don't forget the like share subscribe, hit the bell. And don't forget about Wednesdays with Wendy.  

Business Trip
Soltara: an ethical and profitable ayahuasca retreat

Business Trip

Play Episode Listen Later Sep 14, 2022 54:34


In this week's episode, we chat with Melissa Stangl, co-founder of Soltara Healing Center. Soltara is an ayahuasca retreat center whose ceremonies are lead by Shipibo healers, with locations in Peru and Costa Rica. The Shipibo people are from the Peruvian Amazon and are part of a tradition that has been drinking Ayahuasca for healing and spiritual purposes for thousands of years. In their ceremonies, the Shipibo serve ayahuasca and sing songs, called Icaros, which guide the healing process and journey.Credits: Created by Greg Kubin and Matias SerebrinskyHost:  Greg Kubin and Matias SerebrinskyProduced by Jonathan Davis & Zack FrankFind us at businesstrip.fmFollow us on Instagram and Twitter!Theme music by Dorian LoveAdditional Music:Distant Daze by Zack Frank

Money Makers
Weekly Investment Trust Podcast with Jonathan Davis - Bonus Edition (11 Sep 2022)

Money Makers

Play Episode Listen Later Sep 11, 2022 29:11


Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this bonus edition of the Money Makers Weekly Investment Trust podcast by Steven Tredget, a partner at Oakley Capital. If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to our over 120 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.

Money Makers
Weekly Investment Trust Podcast with Jonathan Davis (10 Sep 2022)

Money Makers

Play Episode Listen Later Sep 10, 2022 53:23


Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by Alastair Laing, co-manager of Capital Gearing Trust. Jonathan also spoke to Steven Tredget of Oakley Capital Investments; their discussion will be released as a bonus podcast. Trusts mentioned this week (with tickers) include: SDCL Energy Efficiency Trust (SEIT), LXI REIT (LXI), Abrdn New Dawn (ABD), Trian Investors One (TI1), Triple Point Social Housing (SOHO), Abrdn UK Smaller Companies Growth Trust (AUSC), Abrdn Smaller Companies Income Trust (ASCI), BlackRock Latin America (BRLA), Rockwood Strategic (RKW), AVI Japan Opportunity Trust (AJOT), Castelnau Group (CGL), Vietnam Enterprise Investments (VEIL), International Public Partnerships (INPP), Thomaslloyd Energy Impact Trust (TLEI). Section Timestamps: 00:07 - Introduction 02:46 - Money Makers Circle 03:32 - Noteable results this week 04:51 - A discussion with Alastair Laing 41:16 - Summary of results 50:00 - Looking back to 1952 52:39 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. As well as the regular features this week, the Circle features a profile of 3i Private Equity (III). For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to our over 120 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.

Passive Income, Active Wealth - Hard Money for Real Estate Investing
238 What Is Your Burn Rate? | REI Show - Hard Money for Real Estate Investors

Passive Income, Active Wealth - Hard Money for Real Estate Investing

Play Episode Listen Later Sep 9, 2022 31:18


Bill Fairman 00:00:01 Hi folks greetings today. We're gonna talk about your burn rate. What's important about it. Does it change over time? We will get that and more with our special guest, Dr. David Phelps, right after this Wendy's Hasling me because I wasn't smiling enough. So I'm just gonna talk like this, the rest of the way. Greetings. I am bill Fairman Wendy sweet in the middle and Jonathan Davis, over there to the left. We are Carolina capital management. And thank you so much for joining us on the real estate investor show hard money for real estate investors. Like I said, we are Carolina capital management. We are a private lender in the Southeast for real estate professionals.   Wendy Sweet 00:01:04 If you're unprofessional, won't, don't call us.   Bill Fairman 00:01:07 If, if you'd like us to take a look at one of your projects, go to Carolina, hard money.com and click on the apply. Now tab, if you're a passive investor, looking for passive returns, click on the accredited investor tab, don't forget to like share, subscribe and hit the bell. And don't forget about Wednesdays with Wendy, Wendy donates 30 minutes per person on Wednesdays to talk about anything real estate related or faith. If you'd like to discuss faith, she's really good about that. She only makes fun of you sometimes. Just kidding. She's always booked up though. So here's the link to get on her calendar.   Wendy Sweet 00:01:58 Awesome. And what was really cool? The last Wednesday happened to fall on a couple months previous, I had done a special talking event with some of the kids from freedom founders. Oh cool. And I'm saying this cuz of course David is with us today and my calls all last Wednesday was all freedom. Founder, children of freedom, founder people. It was really cool.   Bill Fairman 00:02:24 Nice. Yeah. Well we do have a question and comment section on the right hand side of your screen or the bottom, depending on the platform you're viewing us from, you can also get all the links that we're sharing over there as well. So we have, we don't have any, there's nothing breaking this week, right?   Wendy Sweet 00:02:43 Broken. We had a little   Jonathan Davis 00:02:44 Bit of commentary in before we go into the burner. Yeah.   Bill Fairman 00:02:48 Okay. Well, in that case, I'm gonna surprise SHA cuz I said we had, no,   Wendy Sweet 00:02:53 You should ask your cohos breaking   Bill Fairman 00:02:55 News. So I'm gonna say I'm giving I'm talking over longer so she can have plenty of time to queue up the breaking news. When will it end? I feel like I'm on a mission and possible said anyway that awesome. Thank you SHA for jumping right in there and taking over. So yeah,   Jonathan Davis 00:03:35 Well we're, we're gonna talk about burn Ray, which we're gonna let Dr. David Phillips explain exactly what that is, but kind of to build into that, you know, just last month we received reports that consumer spending and consumer debt rather is a lot higher than it has been in fact way higher in, in 20 years. Yeah. People   Bill Fairman 00:03:56 Living off their credit card.   Jonathan Davis 00:03:57 Yeah. Well that's, that's the thing. It, I think year over year rose a hundred billion dollars in credit card usage. Wow. A hundred billion dollars. So that is more people stacking up consumer debt and we can let Dr. David Phelps tell you how that'll affect your burn rate. Also we're seeing, you know, slowing down in the appreciation of homes, we're continu, I think we're four or six, four to six months of continual slow slowing down in that, which is good. We needed it. It's getting to normal. It's down to 18 now. Yeah. Woo. That's great. Down to 18, you're seeing more, you know, more inventory lingering on the market. Hopefully, you know, people will lower prices and we can start moving things and get a little bit back to normal, whatever that means for the time period that we're in. The only thing that is still rising are rents. Right? They are. Thank you Lord. Going up. Yes. That's great. Which it, it was, the report came out for the highest rent appreciation, I suppose, in the nation and by percentage. Right. Do you know what city that was? Hopefully Charlotte, no, no Lexington, Kentucky where I'm from really. Wow. Interesting is the highest I got, you know,   Bill Fairman 00:05:21 Because it started off so low   Jonathan Davis 00:05:22 It's exactly. Yeah, exactly. Yeah. Lexington, Kentucky is number one, followed up by Corpus Christi in Texas. Now on the list on the top declining markets in rents are Irving, Texas and Plano, Texas, really? And number four and five. Huh? Chicago's number three. Huh? Yeah. But interesting. So, you know, Corpus Christi, Cincinnati and Columbus, Ohio. So basically what you're seeing is affordable places that have been historically affordable yeah. Are rising again because people are seeking out that affordability. Yeah. That makes sense. Yeah. That makes sense. You know what I   Wendy Sweet 00:05:57 Thought thought was really interesting too. You were talking about how, how sharply consumer debt has increased when, you know, two years ago, you know, COVID COVID time, you know, and, and as a, a, a friend of mine, who's speaking on sunrises tomorrow, Jordan Nabb, he's an attorney. He said when the helicopter was flying around dropping money on everybody, the not only was consumer debt really low, but savings was really, really high.   Jonathan Davis 00:06:28 I, I didn't put the chart up and I'll, I'll make it available to everyone. But yeah, you can see in 2020, when you know, extra surplus money was made available to everyone, it was a negative 17% year over year. Wow. Wow. Which means people just crush their debt down just, and then now since then we're up at, oh gosh, where we're at. Nope. 12.6%.   Wendy Sweet 00:06:53 Wow. Year over   Bill Fairman 00:06:54 Years. And it's the fed continues to raise rates. Then those cards are costing you even   Wendy Sweet 00:06:59 More that's right. That that's right. That's right. Exciting news.   Bill Fairman 00:07:03 O okay. So that was some great breaking news.   Jonathan Davis 00:07:05 Hey, you know, builds for Mr. David fell. Our Dr. David helps Rather's   Bill Fairman 00:07:10 For sure. David's gonna get bored sitting over here in the green room. So I'm gonna bring him on in just a second, but we have a special visual treat for him first that that's where we all wanna be right now, David,   Wendy Sweet 00:07:30 That you   Bill Fairman 00:07:32 And   David Phelps 00:07:37 The room looked like God, it was close. It was close. So thank you for that. Thank you for having a nice place for me to rest and relax before I on your,   Bill Fairman 00:07:49 You left some snacks for others later   David Phelps 00:07:52 With a little umbrella. Yeah. It's all there.   Bill Fairman 00:07:56 So, so our, our first burning question for you is what is a burn rate,   David Phelps 00:08:04 Burn rate? Yeah. That's, that's overhead, that's a cost of operations. And that can go for one's personal life, personal overhead, personal burn rate. Certainly if you have a business that you run, you've got an overhead or a burn rate in your business. And you know, within that, there's fixed in variable costs, but we all need to know what our burn rates are, you know, personal line business, because, well, I'm probably leading the witness here, but burn rate burn. Rate's very important. I'll let you get, let you take 'em there. I'm not interviewing you. You're interviewing me. So I'll give it back to   Bill Fairman 00:08:33 You. No, listen, we love that. You can take a question and just go with it. We always love the interviews that we have with folks that will go yes.   Wendy Sweet 00:08:42 That's it.   Bill Fairman 00:08:45 Or no.   Jonathan Davis 00:08:48 So   David Phelps 00:08:49 You're gonna give like essay questions. Is that what you're saying?   Wendy Sweet 00:08:53 Your own words? My   Jonathan Davis 00:08:54 Own words.   Bill Fairman 00:08:56 So what's, what's the importance of getting your burn rate and we'll say under control or at least knowing what it is.   Jonathan Davis 00:09:03 Yeah. What does it even mean? It's just, what does it mean, basil?   David Phelps 00:09:07 So, so, so I'm, I'm gonna focus on the personal side. Remember there's burn rate for personal and business. Both are important. I'm gonna focus on the personal side burn. Rate's important because I talk a lot as we all do, because we love real estate. As a vehicle, as an investment real estate provides, you know, cash flow. So if I want to gain freedom in my life, then I need to somewhere start replacing my burn, my personal burn rate with something else that doesn't require me to go to work now, nothing wrong with going to work. We all start there. We need to work. We get an education. We get training in something, get a career, or be an employee somewhere. We, we earn money to pay for our burn rate. But if our burn rate starts to escalate over time, which often it does, because the idea is is you travel through life, your education you're experience, your skillsets, allow you to earn more money.   David Phelps 00:09:56 That's a good thing. But what happens to too many people is they let the lifestyle burn rate also escalate. Now I'm not saying it's bad to aspire to have a, a nicer home, bigger home, maybe a better car than which you started with when you were just getting outta school, which that's nothing wrong with that. But if we focus on what's my real burn rate and how quickly here's the question, how quickly with a plan in place, could I start to replace the cash flow? The income required to fund my burn rate with asset based income? How quickly could I do that? That's what I call a freedom number. And that's why it's important to understand what's my burn rate. Cause we don't have any goals set on that. It can continue to escalate forever. And that's where people get on that treadmill. The treadmill of I earn more, earn more.   David Phelps 01:10:44 It's all good. It's all good. I'm living out a bigger life, a nice life, great life provide for my family, but I'm on this treadmill and where do I ever get up? Get the treadmill even a little bit, even drop the incline a little bit. Right? I mean, you guys go to the gym, you know what I'm talking about? You know, at some point you just can't keep that incline up here, running it in higher RPMs. You've gotta drop it down. Well, in real life, once you're on that trim, it's, it's hard to turn it back down again.   Jonathan Davis 01:11:09 Yeah, yeah. You know, it's makes me think of hamster on the wheel. I mean, yeah. That will, can only go as long as that hamster's running and once you step off, it's done. So, you know, to kind of illustrate the point, you know, we need something that's moving that wheel even when we're not on it.   Bill Fairman 01:11:27 And I don't wanna lead the question, but I'm going to already know the answer, but I'm gonna, I'm gonna ask it anyway.   Jonathan Davis 01:11:39 You know, I've found that when people say that most often they don't know the answer.   Bill Fairman 01:11:48 Is it easier to lower the burn rate than it is to increase the income?   David Phelps 01:11:54 I think it's easier to increase the income personally. I, now you can do both. You can do both. And I think people should do some of both to look hard at the burn rate and say, where could I potentially cut back? But I would say it's easier or probably most focused should go on increasing the income, the cash flow.   Bill Fairman 01:12:15 And, and, and that's something that, you know, we all want to do is take that active income and turn it into passive income. And we're gonna talk about that on our next week's show is about our freedom number and how to get there and the best way to get there. And the, in my opinion, the, the, the best class of assets to get there with.   Jonathan Davis 01:12:37 Can I jump in real quick? Absolutely. So, you know, when you said increasing the income is the easier path, I would, I would probably assume that most people watching this would've thought decreasing your expenses, cuz it kind of like fits into that. Like, you know, Dave Ramsey mindset, like, like to be wealthier, to be successful, to be free, there has to be suffering involved. Like you have to, you have to take away. And I love that you came in and said, no, like it's easier to add income, right? I mean, when you, well,   David Phelps 01:13:12 We're, we're all about suffering here. Are we not? We're we're suffering each other right now. No, we're not. We're enjoying this, but, but yes, Jonathan look, there's, there's a sacrifice period. Unless you were born with a silver spin in your mouth or a trust fund baby, there is a sacrifice period. We have to go through it. Working hard, being dedicated, persevering at whatever is in front of us, whatever our goals are, task career path business. Yes. We have to sacrifice to an extent. So if you wanna call that suffering, maybe there's a little bit of suffering. I think we all had jobs, you know, as we were growing up that maybe you look back, you know, that was suffering, but it was a good for our character building. All right. So get beyond the suffering though. And let's get to a place where we can be more strategic and leverage our experience, leverage collaboration with other people, which is a lot what we're doing right now today.   David Phelps 01:13:59 What you, you all do so well, there's ways to enhance your income, even if it's it's part of your business plan or also as we'll talk about, I'm sure on the, on the passive side, you can do both more easily than you can on the quote suffering side. So I don't want people to think about suffering, but yes, I think I talked to young people and, and Wendy, you were talking about, I'm so glad you were able to connect with, with our, our, our young next, next gen from freedom founders and sewing to them. You know, if I could go back and, and talk to my younger self or talk to these kids as we do, it's, it's like, don't lift your lifestyle escalate too quickly. You know, stay in that mode where, you know, you, you've had to kind of, you know, eek it out and, and, and don't ramp it up.   David Phelps 01:14:46 I was talking to a, a doctor just this last week, you know, he, he does quite well, but he's, he's kept his burn rate low. And I said, I said, how have you been able to do that? Because most people, as they escalate, their income goes right up. And he said, you know, my wife and I just got used to the fact that when we got outta school, we had student loans to pay off. And that required us to, you know, to live modestly. And he said, even after we got our student loans paid off, we decided to know happiness and joy doesn't come from necessarily elevating our, our lifestyle. So we've kept our burn rate low. Well, that doctor today has, has, has a son and a daughter ages four and eight. So he's, he's under 40 just giving you a little bit of character. He's under 40. And, and he's got a lot of flexibility in his life. A lot of flexibility to, to, to do different things. Even with his technical expertise in dentistry, he does different things. He's not, he's not anchored down to one schedule, one place to go, you know, four or five days a week, like so many are. And so he's built that freedom and by keeping his burn rate modest,   Wendy Sweet 01:15:45 You know, it's funny when you're talking about that, it really reminds me of my two sons. I have a 19 year old son and a 21 year old son. And they are like rich, but dad, poor dad, you know, one is, is, you know, saves his money. He works hard. He, he, he almost bought himself a boat and he asked my opinion, mom, should I do this? When I I'm really interested in buying a house, that's my big goal. And he's 19. And I said, well, how does buying a boat help you get a house? And he said, that's all I needed to hear. And he walked away from that desire. Now had I said that to my, well, my 21 year old wouldn't have even asked me, but you know, had I said that to him, he'd be flying around in a boat. Yeah.   Wendy Sweet 01:16:35 You know, as fast as he could on the lake. So, oh, I was getting ready to say, that's, that's pretty incredible that he could fly on the boat. Yeah. It's an near boat, but it's, it's, you know, I loved when we were at your last freedom founders event and you were talking about burn rate and you, you, with this group, you went through all the things you really need to look at. And question, is this something you really need now? Do you really need the big house? You know, do you really need the fanciest? You went down that list. And if you could talk just a little bit about just really giving people an idea of things they really should be looking at to decrease that burn rate.   David Phelps 01:17:22 Well, house living quarters is certainly one of the big ones, whether you rent or, or own, you know, the larger, the square footage, the more utility cost you have just to heat and cool, right. Property taxes are higher. Insurance is higher, just maintaining a certain square footage, interior and exterior has a cost factor to it. So even if you have a free and clear house, which is a great goal to have, but if it's large, then it's gonna require a certain overhead or a burn rate just to sustain that large capacity house. If you rent, I mean, same thing. You're gonna pay proportionately for the size. So do you need all of that? Right? I think so that that's a big one. I think other aspects would be. And I, I just look at vehicles, I, for me, a vehicle or car is just something that will securely and reliably get me, you know, from here to there where whatever my, my transportation needs are, I'm not judging people who want to have nice cars at all.   David Phelps 01:18:20 I'm just saying, it's just look at, I, I just always buy used cars and I just drive. 'em a lot of miles. That's just that's me. It is. It's like, it's almost like a badge of honor for me. And I think I got that from my dad. My dad was the same way. So like father, like son, you know, I just, I just drive. But you know, I just feel good about that because going back to your point, Wendy, about your two sons, I've always looked at the additional discretionary dollars I have by not having those, you know, inside of my burn rate, having to put fund my lifestyle. If I can cut that back, I've got more dollars I can put into investments. The ones I like that will produce, you know, additional income. So when I do want to enjoy something more, like rather than buy a boat, I would just tell your son rent, go rent the boat.   David Phelps 01:19:03 You can rent a really nice boat for a weekend or a week or whatever you wanna do. And then just give it back. See, I think that's the way to do those nice things. People like to have vacation homes again, not judging, but I think it's better personally to, well, you'll like this Wendy rent, Airbnb, you go where you want to go rent the air and B for in the weekend, the week, whatever you can go to different places and people, oh, well you you're just wasting your money. No, actually I didn't have the extra expenses, the, and, and the hard costs and, and the mortgage and everything else on that. Airbnb. Now, if you run it as a business, different ballgame, but I'm just saying people that like a vacation home, why don't you just get the extra money, invest it in something, an asset they'll produce. And then you can go have, have vacations all over the place when you decide to do it.   Wendy Sweet 01:19:46 That's right. And if you go to sweet spots, stay vacations, you can find any kind shameless blog shameless.   David Phelps 01:19:56 I hear that to you just about right. Was that about the right letter? Yes.   Wendy Sweet 01:19:59 Thank you. The other thing too, I, I think little things make a difference as well. And people don't think about this. How much are you really paying for your cable TV that you really need it? Like, even, even us as a company, every time we have our financial meeting, once a month, we still go through all of our credit card statements. We look at all the auto, automatic payments that are being made here and there, those little things, the first time we ever did it, we saved $16,000.   Jonathan Davis 02:20:28 And that was nothing big. That was all just like little, little things here and there that were just tacked on. I mean, we, you know, all the time it   Bill Fairman 02:20:36 Was outdated. We weren't using it. Like we should have it wasn't efficient,   Jonathan Davis 02:20:40 But I mean, David hit a, a great point and, and I don't want it to be lost on people. It's like, you know, your, your burn rate can increase, but do it in conjunction with your assets producing income increasing. Absolutely because that, that's the, that's the first piece, get the assets producing. Then you can increase over here, cuz these assets are, are supply that which is counter to most Americans who've added a hundred million or a hundred billion in instant gratification. Yeah. In instant debt.   David Phelps 02:21:14 Yeah. To me, to me, to me having asset based income quote, passive income in, in the right investments is, is like the best insurance policy. Sure. When, when I have the benefit and the blessing to, to work with couples and again, these are, you know, educated couples, typically one, one of the others, a professional practice owner, oftentimes not always, but oftentimes the spouse who, who is the spouse, who is the matriarch, the then I call the, typically the nurturer, the protector of the family. And, and they do a great job of that. We have to hand it to the, the moms and our wives who, who, who they function at much higher degree than we do typically in that regard. So they look at everything from the standpoint of, of, you know, investment or expense and most things are in expense to them. Cuz they're trying to again, protect the family, protect the family.   David Phelps 02:22:04 What I realize is, is in talking to a lot of these couples, the high income earner who goes out and you know, works, works outside the home is, is thinking well, you know, sky's the limit, you know, I can, you know, keep earning and keep building and she's thinking security, security, okay. Well guess we have insurance. We have life insurance and disability insurance. And, but that's not enough. I want to know if something happened to his or her income capabilities, what's there besides an insurance policy that would keep some kind of cash flow coming. And what I realized is when I showed them that you don't need to be able to just replace hi his or her income, if you can just replace your burn, rate your lifestyle burn rate with that asset based income, that's like the best security in the world because now, and, and I see the, the stress come out of their faces. They don't have to understand all the financial machinations of how real estate works and all that. They just wanna say, you know, are there checks in the mail or ACH, you know, that are coming in, that I can actually see and they're coming from not his or her work it's coming from this investment that we made and that's producing and sustainable is predictable. That's what, that's what so many of the women I see that are these protectors and nurturers, they wanna understand that part.   Bill Fairman 02:23:16 Right. Right. Well, I, I did wanna touch on one little thing before we wrap up this segment, you still have a motion that gets involved with that home that you've been in for probably 20, 30 years raised your kids in even, you know, if it's free and clear and, and in my opinion, that's, that's a way to downsize take that extra money and use it to invest in something that is gonna create some cash flow for you. But you, you know, you still have that emotion. When I first started originating mortgage loans, as soon as the wife started talking and I'm sorry, it's usually the wife. I don't mean to, yeah, don't be a bigot. But   Wendy Sweet 02:23:59 Usually   Bill Fairman 02:23:59 When they're already talking to me about, you know, they've picked up or picked the curtains for certain rooms, I knew this transaction was going through. Yeah. Because it's about the emotion. How do you overcome that emotion or, or do you,   David Phelps 02:24:13 Well, I don't think, I don't think you overcome it. I think, I think that that, that plays into part of everybody's lives to some extent. And so if you're talking about the, the sentiment of a family home, that you've raised all your kids in, but look, I think we have to, at some point, let go, you can, you know, you can always take pictures, I take pictures,   Wendy Sweet 02:24:36 Take pictures.   David Phelps 02:24:37 And, and then when you get together at Wendy's Airbnb and you call this great memories you had there, but yes, John effectively, you got the money working better for you. So   Bill Fairman 02:24:50 Yeah. You remember when aunt SU kept tripping over that step? You wouldn't fix there.   David Phelps 02:25:00 Memories, bad memories there, the book you don't keep those.   Bill Fairman 02:25:05 That's   Wendy Sweet 02:25:06 Awesome. We wanna also bring up his book, right? Yeah. Let's talk about your book, David.   David Phelps 02:25:11 Sure. All right. Well, I, I published the book. I published the book get's behind me, but I, I actually have a yeah. Copy there. And I think it's there's so it's inflation inflation, the silent retirement killer. You all were talking about a little bit on the front end of, of the opening of the show today is that yeah, we are in different times than this country is seen in really four decades. And we're seeing, you know, heavy headwinds of inflation and what the fed is trying to do to offset that and what, what that may cause as a, as a down line situation with recession correction. So we just, yeah, we, we put together this book and, and it's a there's there's history and, and fundamentals and economics in it, but there's also, you know, what you can do. I mean, part of this show today is like what people can do to protect and hedge themself against inflation, the high costs, and then protect against, you know, downside risk protection in, in the markets. I'm talking about like financial markets that are very, very volatile typically. And that's why we like real estate because there's much less volatility in real estate, much more predictable.   Bill Fairman 02:26:13 So you can, we   David Phelps 02:26:14 Got, you can pick. Yeah. You can pick that book up off of Amazon and thank you for putting the   Bill Fairman 02:26:20 Oh, absolutely. Absolutely. We, we have a, a direct link to the page over there in the chat and we will, well, that will stay on there so you can just click it on and go right to it. David has a lot of books and he does a really nice job of explain, taking the complicated and making it simple to understand. And   David Phelps 02:26:39 I like, I like the idea of, of how to outwit the fed that's Jerome Powell. Don't you wanna, everybody wanna outwit Jerome Powell? I kinda do. I wanna outwit him. So we have a prior attack on how to outwit Jerome Powell. I'm not, I'm not saying he's a bad guy. I'm just saying let's just outwit him. Right. He's   Wendy Sweet 02:26:56 Shouldn't be too hard.   Jonathan Davis 02:26:57 And   Bill Fairman 02:26:57 I may just comment last week, the real estate space in the right space. It it's a defensive play that continues to grow. So you can still get growth over time. You get, you can get some tax benefits as well. And, and it's still a, a defensive play. Although if you read the headlines and they talk about the real estate crashes, those are the people that aren't investing.   David Phelps 02:27:21 Yeah. Well, headlines are click baked. I mean, they just, they, they have to always make hype everything. Everything, everything is is, is extreme, extreme, right. Everything today. And so yes, if you're, don't, don't watch that the, we know from our experience decades, decades of investing in real estate, that real estate is much less fault. Yes, it is affected, but we there's lag time. There's plenty of time to position yourself the right way. And, and that's what I love about real estate. I don't have to be a trader in fact, watch the market every day and see what's happening. Go, oh my gosh. You know, I just lost 20% on my, my account. Nope. That didn't happen in my real estate. Nope. Didn't happen. Right.   Wendy Sweet 02:27:57 That's right. That's   Jonathan Davis 02:27:58 That's, that's the point I was gonna bring in the stocks. You worry about actual principle loss often. And in real estate, you very rarely have to worry about principal loss. Right? Right.   Bill Fairman 02:28:09 David, thank you for being so gracious and being on our show. I wanna mention that David will be on next week's show. So if you see all of us in the same close,   David Phelps 02:28:18 Because   Bill Fairman 02:28:19 We're recording this right after this one,   David Phelps 02:28:22 Just one question. Do I have to go back and sleep in the green room for the next week?   Jonathan Davis 02:28:26 Yeah. You   Wendy Sweet 02:28:27 Hope you send yourself some green. M and Ms.   Bill Fairman 02:28:32 Thank you so much, David. Thank   David Phelps 02:28:34 You guys.   Bill Fairman 02:28:35 Jonathan, would you like to ask the question of the   Jonathan Davis 02:28:38 Week? The question of the week is this one right here? That's right.   Bill Fairman 02:28:41 We're fancy have Monica   Wendy Sweet 02:28:48 It's right there on the screen.   Bill Fairman 02:28:49 Scott told me to pause.   Jonathan Davis 02:28:50 I, that picture looks like I have way more white hair than I don't. I dunno. Makes you look smarter. Okay. All right. All right. So the question of the we guys we want to know is what is like, well, I mean, money mindset is a precursor to spinning behavior. What is your money mindset right now? Is it positive? How do you think about and relate to money? We wanna know. I mean, this on the heels of talking about burn rate, what you can do to, you know, increase income. Also consumer spending is higher than it's ever been in 21 years. So just kinda wanna know what your mindset is. And   Wendy Sweet 02:29:23 You can answer right here on our chat. Yeah. Whether it's live or not,   Jonathan Davis 02:29:26 You can below side, I don't know. Wherever it is on your, there might be a be you ring. I don't know.   Bill Fairman 02:29:33 And yes, it's an essay question because it's like don't   Wendy Sweet 02:29:36 Pal question.   Jonathan Davis 02:29:37 Yeah. We won't accept answers less than two paragraphs.   Bill Fairman 02:29:41 We upcoming quest and you, you can still get 30% off by using the code. Fairman 30, which is also over in the chat bar. Yeah. It's a great way to network with folks and learn all about ways to invest your self-directed IRA who see you there.   Jonathan Davis 03:30:18 One of my fun personal games is to count the second I, that it takes you to realize that you've been muted and something else is playing, but you're still talking.   Bill Fairman 03:30:28 Listen, I never stopped talking three. Okay. Thank you so much for joining us on the real estate show hard money for real estate investors. We are Carolina capital management, private lenders in the Southeast for real estate professionals. Like I told, look at a project of yours, go to Carolina, hardman.com and click on the apply. Now tab, if you're a passive investor, looking for passive returns and click on the accredited investor tab. Wait a minute. Okay. Don't forget. Delight, share, subscribe, and hit the bell. And don't forget about Wednesdays with Wendy C next week.   speaker 1 03:31:14 Hey.  

Dunlop Presents Bass Freq's
Miles Mosley

Dunlop Presents Bass Freq's

Play Episode Listen Later Sep 7, 2022 55:30 Very Popular


Miles Mosely is a captivating artist whose unique stylings have invited many to refer to him as the Jimi Hendrix of upright bass. Combining a solid groove and improvisational prowess with his upright, bow, and an array of effects pedals, Miles has contributed his innovative tones to top acts from Chris Cornell and Kendrick Lamar to Korn's Jonathan Davis and Rihanna—and that's alongside his own solo records and work for film soundtracks. On this week's episode, host Josh Paul goes in depth with Miles on his story, style, and playing philosophy which—despite its unconventionality—speaks to any musician with a passion for playing music and a need to be heard.

Locked On Big 12 - Daily College Football & Basketball Podcast
Are We Trading Excellence For Access With A 12 Team CFP? + Looking Ahead To Week 2

Locked On Big 12 - Daily College Football & Basketball Podcast

Play Episode Listen Later Sep 7, 2022 33:07


Josh Neighbors is joined by Drake C. Toll of Locked on Baylor and Jonathan Davis of Locked on Longhorns. The guys dive into the news of an upcoming 12 team College Football Playoff. They give their thoughts on the conversation around trading excellence for access with an expanded CFP. They also touch on the idea of a diminished regular season because of an expanded playoff. The guys wrap up the show by looking ahead to the massive Alabama-Texas matchup this weekend as well as Baylor's trip to BYU. Are We Trading Excellence For Access With A 12 Team CFP? + Looking Ahead To Week 2 https://www.youtube.com/channel/UCIaiqufEekxiTnnLc129t2g WANT MORE DAILY BIG 12 FOOTBALL AND BASKETBALL CONTENT? Follow & Subscribe to the Podcast on these platforms…

The P.O.D. Kast
Episode 37: Korn's "Life is Peachy", or To Infinity and Beyond

The P.O.D. Kast

Play Episode Listen Later Sep 6, 2022 116:15


You can be a nu-metal fan but not be constantly engaging with the classics, particularly a band's--by their own admission--rushed second album. We know about the legacy of the self-titled. We know about how many copies Follow the Leader sold. But where does "Life is Peachy" fit into Korn's legacy as a band, and the legacy of nu-metal as a whole in 2022? Well, it turns out that both Bryan and John were very pleasantly surprised by how much they liked it still. It completely whips, and we have fun getting into all of it. We discuss Ross Robinson's "improved" production, why exactly Jonathan Davis is so mad at Mr. Rogers, what a song consisting of the most vile words the English language has is doing on the album, and why there's two covers over the span of 3 songs. It's a testament both to Korn's excess at the time, but also the limited scope and budget with which they had to operate that excess. It's an album that has some of Korn's absolutely best songs, and some of their most baffling decisions, but ultimately stands the true test of time. And of course, we dig into the interviews and get more of these dumb guys saying very dumb things. It's Korn, what do you expect? What you can expect over on our Patreon is THREE bonus episodes every single month for the low price of $4. Head on over to patreon.com/thepodkast and you'll get one full-length bonus, like last month's review of Edgewater's "South of Sideways" with Producer Dan, and two mini singles reviews every month. Plus, you can tell us what to review for a bonus episode and we've got a very cool and fun Discord. It's all there, check it out and support this show!

Book Club for Masochists: a Readers’ Advisory Podcast

This episode we're talking about Audiobook Fiction! We discuss narrators vs casts, sound effects, music, adaptations, footnotes, and more! Plus: How do you picture the hosts in your mind when you listen to us? You can download the podcast directly, find it on Libsyn, or get it through Apple Podcasts, Stitcher, Google Podcasts, or your favourite podcast delivery system. In this episode Anna Ferri | Meghan Whyte | Matthew Murray | Jam Edwards Things We Read (or tried to…) Gemina by Amie Kaufman and Jay Kristoff, narrated by a full cast Coasting Trade by Robin McGrath, narrated by Robert Joy, Rick Boland, and Anita Best  Things We Lost in the Fire by Mariana Enríquez, translated by Megan McDowell, narrated by Tanya Eby The Sentence by Louise Erdrich Convenience Store Woman by Sayaka Murata, translated by Ginny Tapley Takemori, narrated by Nancy Wu What Are You Going Through by Sigrid Nunez, narrated by Hillary Huber Other Media We Mentioned The Hitchhiker's Guide to the Galaxy Tertiary to Hexagonal Phases (Wikipedia) The War of the Worlds (1938 radio drama) (Wikipedia) What We See When We Read by Peter Mendelsund Welcome to Nightvale (podcast) Mostly Void, Partially Stars: Welcome to Night Vale Episodes #1 by Joseph Fink and Jeffrey Cranor 99% Invisible (podcast) The 99% Invisible City: A Field Guide to the Hidden World of Everyday Design by Roman Mars and Kurt Kohlstedt The Anthropocene Reviewed (podcast) The Anthropocene Reviewed by John Green The Princess Bride by William Goldman Control (video game) Control || Talking Simulator Nimona by N.D. Stevenson Nimona by N.D. Stevenson, narrated by Rebecca Soler, Jonathan Davis, and Marc Thompson The Stanley Parable (Wikipedia) (it's not quite as narrated as Matthew and Jam implied) Official website Gadsby (novel) by Ernest Vincent Wright (Wikipedia) “does not include any words that contain the letter E” A Void by Georges Perec (Wikipedia) “entirely without using the letter e” War and Peace by Leo Tolstoy, translated by Richard Pevear and Larissa Volokhonsky Illuminae by Amie Kaufman and Jay Kristoff My Brain is Different: Histoires of ADHD and Other Developmental Disorders by MONNZUSU Project X: Challengers - Seven Eleven by Tadashi Ikuta and Namoi Kimura Project Hail Mary by Andy Weir, narrated by Ray Porter The Sandman (audiobook version) Leave the World Behind by Rumaan Alam, narrated by Marin Ireland  House of Leaves by Mark Z. Danielewski Links, Articles, and Things Episode 133 - Flash Fiction Episode 108 - Visual Novels Serre - Kinda bilingual anglos play French-language Visual Novel Episode 027 - Non-Fiction Audiobooks Audie Awards Turns Out Not Everyone Can Picture Things In Their Mind And Sorry, What? Lowly Worm (Wikipedia) Let's Play (Wikipedia) Oulipo (Wikipedia) 24-hour comic Episode 047b - Terrible Stories by Matthew (you have been warned) Episode 142 - Sequels and 2022: The Year of Book Two ISO 8601 (Wikipedia) (date standard) June Is #audiomonth: Narrator Trading Cards Giveaway Two-Fisted Library Stories (Twitter bot)  Digital Accessible Information System (Wikipedia) 20 Fiction Audiobooks written & read by BIPOC (Black, Indigenous, & People of Colour) Authors and Narrators Every month Book Club for Masochists: A Readers' Advisory Podcasts chooses a genre at random and we read and discuss books from that genre. We also put together book lists for each episode/genre that feature works by BIPOC (Black, Indigenous, & People of Colour) authors. All of the lists can be found here. Counterfeit by Kirstin Chen, narrated by Catherine Ho Firekeeper's Daughter by Angeline Boulley, narrated by Isabella Star LaBlanc The Night Watchman by Louise Erdrich, narrated by the author Brown Girl in the Ring by Nalo Hopkinson, narrated by Peter Jay Fernandez Ninefox Gambit by Yoon Ha Lee, narrated by Emily Woo Zeller The Memory Librarian and Other Stories of Dirty Computer by Janelle Monáe, Yohanca Delgado, Eve L. Ewing, Alaya Dawn Johnson, Danny Lore, Sheree Renée Thomas; narrated by Janelle Monae and Bahni Turpin Nightcrawling by Leila Mottley, narrated by Joniece Abbott-Pratt Convenience Store Woman by Sayaka Murata, translated by Ginny Tapley Takemori, narrated by Nancy Wu Binti by Nnedi Okorafor, narrated by Robin Miles War Girls by Tochi Onyebuchi, narrated by Adepero Oduye The Swimmers by Julie Otsuka, narrated by Traci Kato-Kiriyama The Beadworkers by Beth Piatote narrated by the author, Christian Nagler, Fantasia Painter, Drew Woodson, Phillip Cash Cash and Keevin Hesuse Dating Dr. Dil by Nisha Sharma, narrated by Soneela Nankani, Sunil Malhotra and Vikas Adam An Unkindness of Ghosts by Rivers Solomon, narrated by Cherise Boothe Four Aunties and a Wedding by Jesse Q. Sutanto, narrated by Risa Mei The Strangers by Katherena Vermette, narrated by Michaela Washburn On Earth We're Briefly Gorgeous by Ocean Vuong, narrated by the author Zone One by Colson Whitehead, narrated by Beresford Bennett The Seed Keeper by Diane Wilson, narrated by Kyla Garcia Interior Chinatown by Charles Yu, narrated by Joel de la Fuente Give us feedback! Fill out the form to ask for a recommendation or suggest a genre or title for us to read! Check out our Tumblr, follow us on Twitter or Instagram, join our Facebook Group, or send us an email! Join us again on Tuesday, September 20th when we'll be discussing the winner of our “we all read the same book” poll and discussing Hurts So Good: The Science and Culture of Pain on Purpose by Leigh Cowart! Then on Tuesday, October 4th we'll be talking about the genre of Fictional Biographies!

Locked On SEC Football
Can Texas Beat Alabama?, Luke Robinson Talks Bama, Jonathan Davis Talks Longhorns, Latest SEC News

Locked On SEC Football

Play Episode Listen Later Sep 6, 2022 43:52


On today's show, we start to look ahead to this weekend's big non-conference matchup between Alabama and Texas in Austin as the Tide & Bryce Young bring a lot of firepower against Steve Sarkisian's group. We'll preview the matchup with Luke Robinson of Locked On Bama, as well as Jonathan Davis of Locked On Longhorns. What does Texas have to do to pull off the improbable upset? Also, we'll go Around The Conference as we bring you the SEC players of the week, LSU loses a defensive player for the season, and much more. WANT MORE DAILY SEC CONTENT? Follow & Subscribe to the Podcast on these platforms…

Money Makers
Weekly Investment Trust Podcast with Jonathan Davis (03 Sep 2022)

Money Makers

Play Episode Listen Later Sep 3, 2022 54:19


Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by two guests - Max King, columnist at MoneyWeek and former fund manager at Investec; and Andrew Lister, head of closed-end fund strategies at Abrdn. Trusts mentioned this week (with tickers) include: F&C Investment Trust (FCIT), Chrysalis Investments (CHRY), SDCL Energy Efficiency Income (SEIT), Taylor Maritime Investments (TMI), Rights and Issues Investment Trust (RIII), BBGI Global Infrastructure (BBGI), Target Healthcare REIT (THR), Oakley Capital (OCI), HG Capital (HGT), 3i Group (III), Intermediate Capital Group (ICP). Section Timestamps: 00:45 - Review of the week with Max King 10:44 - This week's news and fundraising 17:47 - Max King's portfolio changes 22:25 - Jonathan's round-up of other news 25:34 - Latest investment trust results 27:33 - Latest Money Makers Circle content 28:22 - Private equity discussion with Andrew Lister 53:23 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. This week the Circle features a profile of the Diverse Income Trust (DIVI) and commentary by Jonathan on the week's developments, as well as a new feature, a table of forthcoming dividend and ex-div dates. For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to our over 120 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.

Passive Income, Active Wealth - Hard Money for Real Estate Investing
237 How Do You Mitigate Risk? | Real Estate Investor Show - Hard Money for Real Estate Investors

Passive Income, Active Wealth - Hard Money for Real Estate Investing

Play Episode Listen Later Sep 2, 2022 30:16


Jonathan Davis 00:00:01 Hi everyone today we're discussing risk mitigation. And what are some of the risks that you may not be thinking about while investing right after this?   Jonathan Davis 00:00:35 So I'm stepping in for a bill today. He usually gets through the, the whole intro, but just, you know, bear with me here we are. This is the real estate investor show. We are Carolina capital management. We are investors and lenders for the real estate space. In the Southeast. We are private lenders for real estate professionals. And if you would like to invest into real estate or get a loan, go to Carolina, hard money.com and click on the apply. Now tab, we also have a fund for credited investors. So if you are interested in receiving passive returns and getting outsized passive returns, then go to the accredited investor tab. Don't forget to like share, subscribe and hit the bail. And then also Wednesday with Wendy,   Wendy Sweet 00:01:42 They   Jonathan Davis 00:01:43 Were quick. I like it. Yeah. I know Wednesday with Wendy, Wendy donates all of her Wednesdays to help you in anything to do with real estate or business. She's a great resource. She's booked out usually several months in advance, but go ahead and it's a Calendarly or it's a HubSpot meet up. There you go. Just click on that link and you can schedule a time to talk with her and, you know, just kind of dive into everything that is business and real estate.   Wendy Sweet 00:02:10 You know, what was really cool this past Wednesday, which was yesterday as far far as I know, I do five calls a day and all five calls were faith-based. You know, how do you balance your business and your relationship with Christ? It was majorly cool that all five people, that was their intention. So it was kind of a Jesus best. It was neat.   Jonathan Davis 00:02:37 That's awesome. That is awesome. Quick though. Before we bring on our guest today, I do want to just some quick news,   Wendy Sweet 00:03:08 We're giving CNN a run for their money. Aren't we,   Jonathan Davis 00:03:12 I know right before I get into the news, I just have to say how concise and moving forward this show seems to be compared to bill.   Wendy Sweet 00:03:24 What do you mean?   Jonathan Davis 00:03:25 Yeah, no. So, so I, I do wanna discuss a couple things. The first being, you know, mortgage applications, mortgage originations, the volume of mortgage is at a 22 year low, not, you know, anything groundbreaking. We know that when the rates have, you know, doubled in the last, you know, year and you know, housing prices haven't really come down. Yeah. It's, it's hard to afford a house and volumes will go down. So that's not terribly surprising, but it is a 22 year low. The other piece is BlackRock, I believe has just now finalized their 30 billion fund to take advantage of the upcoming months and years of what they anticipate to be a lot of opportunity in the real estate space to buy at, you know, high volume to get great discounts. Mm. So that is a signal I think, to everyone else, it's like be patient, keep some powder, dry, do your due diligence and also understand risk mitigation. Understand it. So without further ado, when we wanna talk about what is risk mitigation and what can we do about that? I want to bring on Rob Napolitano. He's a friend of ours and he has been working in the NPL space, which is the non-performing loan space, the insurance space, you know, gosh, pretty much everything that has to do with, with real estate. So I wanna go ahead and bring Rob on,   Rob Napolitano 00:05:10 Hey guys. Thanks Wendy. Jonathan. Thanks for having me. I really appreciate the, the time we're spending together today.   Jonathan Davis 00:05:18 Absolutely. No, we appreciate you being on. Yeah,   Wendy Sweet 00:05:22 Billy's listening. So we can't make fun of him. We highly respect him. We love him. He's my brother. I have to love him.   Rob Napolitano 00:05:31 What, what are the subtitles coming across saying? Don't believe anything Wendy is saying I'm   Jonathan Davis 00:05:41 Oh yeah. That's good. Well, again, thanks for, for coming on. I you've just recently made a, a big move from the Northeast down to the Southeast, right? That's   Wendy Sweet 00:05:53 Correct. To the dark side.   Rob Napolitano 00:05:54 That's correct. Yeah. I, I, I, I not only am a man of many words, but I'm also a man of action and I voted this year with my feet and picked up my family and moved out of the Northeast where I was just tired of the, the loss of freedom that I was experiencing. Mm. Yeah. So yeah, I'm   Wendy Sweet 00:06:17 Outta there. You less people there.   Jonathan Davis 00:06:21 Excellent. Excellent. Yeah. Well, we're glad to have you down in the Southeast, you are one of the many who have, have made that move smartly. We like to think, but, but now   Wendy Sweet 00:06:31 We, and you're like really a neighbor, like you're in our town and stuff like that. That's really cool. It's good to have you down here.   Rob Napolitano 00:06:37 Yeah. I'm not officially anyone. Should I start talking and saying y'all, but I haven't gotten   Wendy Sweet 00:06:41 Her yet. That too shall come. Or it'll   Jonathan Davis 00:06:44 It'll sooner than you think   Wendy Sweet 00:06:46 Sooner. Bless your heart. Yeah.   Jonathan Davis 00:06:50 Well, I, I, I, I want to give you an opportunity, Rob, to kind of tell everyone a little bit about your, your background, how you got into the space and where you are now, before we start getting into, into the meat of what we wanna talk about.   Rob Napolitano 00:07:05 Yeah. For great. And I, I appreciate you having me come on and talking about this, but I wanna say one thing first, what the hell is risk mitigation? Risk mitigation is the term that common people don't use. That's what big banks and, and people use. But although we do it every day and part of my story talks about risk mitigation and what risk mitigation is, is just keeping what's ours, right? It's what we accumulate. What's ours. And then kicking somebody's butt. If they try to take it, it's all it is. And coming from the Northeast of New Jersey, you know, actually that's part of where my story starts. I was always that kid in the, in, in, in grammar school, that was always in detention because I was always caught in a fight in the schoolyard because the bully was always beaten up on the kid that couldn't defend themselves.   Rob Napolitano 00:07:46 So I ended up always being, you know, getting inside of a fight, defending somebody else who couldn't defend themselves. And there's some risk mitigation, right? Like me and it, it, it ended up, it ended up, you know, maturing throughout my career. As I started in real estate investing many years ago, 20 something years, I've been investing in real estate. And I went through the normal course that everybody does. You go take a course, you pay the money, you buy a couple properties. You, you, you get some mortgages and you take all the risks that you want. Then you don't know everything. And you learn as you go, it's a school of hard knocks. And I ended up getting caught up in the, the 2008, 2009 financial crisis. At that point, actually, I had gotten into the mortgage business a few years prior. I was doing writing loans, learning about the banking industry, started my own mortgage bank, doing some private lending.   Rob Napolitano 00:08:41 The sub subprime mortgage crisis happened, caught me off guard as well. And so personally I went into a chapter 13 bankruptcy, and I had to learn how to get myself out. I, I, I actually hired an attorney. And at that point I was so interested in what was going on with the crisis that I actually went to law school, become a paralegal and learned more about how the mortgage backed securities and the securitization process all worked. And I started a legal litigation support services, where we were helping attorneys to help homeowners stay in their homes. Because a number of those foreclosures going on back then were being done illegally, hence forth the bully coming in on the homeowners, me stepping in trying to beat up on the bully. But I found that was a hard way to actually make a living. And at that point I had just started my new life as a new husband and father.   Rob Napolitano 00:09:34 I need to actually make a living as well. And so we did that and I learned, learned the legal system, how it all worked, got involved, a number of, of, of cases. Matter of fact, one of my briefs decided in the state Supreme court of Massachusetts and, and what I've learned is taking on the bank's head on was a Herculean task. And what I wanted to do is, okay, so if these banks own these loans and you know, they have problems processing and paperwork, and they didn't want to do all the heavy lifting of trying to modify loans. I wanted to be in that business. So we started a fund in 2014, buying loans raised a bunch of money doing it. And one of the things that I found in my experience and going through what I went through is that all the banks were always covered.   Rob Napolitano 01:10:22 And they always had this insurance on their bets that they made not to get too technical, but they were, you know, credit, default swaps and different ways that they covered their losses. And I said, wow, there's no real insurance for the risks that we take as actual real estate investors. How do we get that covered as well? And so I found another product and I started a second fund of, of, of buying life settlements with partners there as well. And we used the life settlements as a way to cover and, and absorb some of the risks that we take on the buying of the notes that we buy. So now we're buying notes, doing private lending and also buying distress life insurance policies as a suite to cover ourselves and mitigate simple, let's say keep a lot of the money that we're making through the insurance pot.   Rob Napolitano 01:11:12 So we kind of self-insure ourselves, but that came through, you know, my experience of what I went through. I had to go through, you know, the doldrums and it was a very lonely place going through bankruptcy and long story short, I ended up coming outta that bankruptcy suing two of the big banks to the major institutions. They ended up paying off all my creditors, paid my bankruptcy state, paid all my attorneys, and I actually walked away with a profit outside of my bankruptcy. Wow. So it's a very rare case. And, but yeah, I had to go through all of it. So I, I, I learned how to get to the very bottom, find out how it all works and then build upon something upon that as well. And it's not, it's not nice what these banks and these financial institutions do to people. So I've always been now that advocate of helping people to generate their wealth.   Rob Napolitano 01:12:02 However they choose to do it. I think real estate's one of the best ways to do it, but it doesn't come without risk without failure, without pitfalls. And you, you're never gonna know everything because there's always outside forces involved as well, but there are certainly ways to protect yourself. And, and, and I'll give you maybe as a, as, as, as, as an anecdote to it, it's like playing any professional sports. I mean, we're here in the United States. There are gonna be people elsewhere listening outside the United States, but let's use American football. As an example, we have an offensive team and we have a defensive team. So in that scenario, if we are playing in the super bowl and we're up by three points with two minutes left to go, how do we protect ourselves? How do we protect lead? How do we protect that trophy?   Rob Napolitano 01:12:52 That's right in front of us all relies on the defense. And when we talk about this risk mitigation, it's just about financial defense. How do we protect ourselves from the risk and risk is nothing more than the potential of something going wrong. And the probability of that happening, we live in risk, right? So it's always there. So how do we protect that probability and work on the defense and nobody ever talks about defense, right? The super bowl it's, you know, the quarterback was great. And did you see that play, that wide receiver caught that not running back, did that great. Never talks about the defense. Right. And so it is in, in, in our financial side and no one talks about the defense, how do we protect ourselves? But it's important. It's important.   Wendy Sweet 01:13:40 Yeah. You know, I think, I think that's probably the biggest mistake that people make is they don't put the defense into place. You know, the thing that I lo the part of your story that I love the most is the scars. Yeah. That, that you've acquired. And, and you're not afraid to tell people, Hey, here's what I went through. Yeah. And that's, I would much rather invest in people that have been up against the wall that have felt the pressure of, of being at the bottom that understand, because that makes you so much more risk aversive. I mean, you're, you're really looking, you're really looking to make sure that doesn't happen again.   Rob Napolitano 01:14:26 Absolutely. No, I listen. It's absolutely. I mean, and I, I I've said that to people as well for too, you know, when they try to compare, well, you know, we like to see people's historical track record. Why that's gonna happen again? What do they always say after historical track record, past performance, not an indication of future future   Wendy Sweet 01:14:44 That's right.   Rob Napolitano 01:14:46 Basically saying, I'll show you the numbers, but don't believe any of this B BS that I'm about to show you because I may screw up moving forward. So it's, you know, it's, it's a forward looking thing, but you're absolutely right. No one knows it's gonna happen moving forward. It's a risk that we're taking, but don't, you want to be with those that have been through the DLL drums already so that no matter what comes forward, no matter what happens, no matter what's in front of us, we want to be with the people that have been there already, because it is scary. Right? We're not about this stuff. So having the right partners, having the right people, that's why I love doing stuff with you guys. Okay. You guys have been through the worst of the worst as well. You know, you guys understand this stuff. The, the three of us here, we don't know everything, but we know how to get through everything.   Wendy Sweet 01:15:31 That's the key.   Jonathan Davis 01:15:32 Well, and that's, you know, that, that's one of the things that talk to tons of people about, and it's, it's like, you know, everyone wants to say, you know, the, if we talk about real estate, it's, you know, it's cyclical things, you know, things keep happening over and over that are similar. Sometimes, almost exactly the same, but there are never caused by the same thing. And that's what risk mitigation is. It's knowing that there is going to be a loss of some kind. And the mitigation is how do I position myself in my investments, in a place that reduces the amount of loss for the unknown thing that's going to occur that I know is going to occur. I don't know when, and I don't know what it's gonna be, but it will occur. So how do I position myself in that best place?   Rob Napolitano 01:16:22 Yeah. Absolutely.   Jonathan Davis 01:16:23 Position the assets in the best place. So, yeah. I mean, that's, that's all we like, we know it's coming. We just don't know what it is.   Rob Napolitano 01:16:30 Well, let's, let's look back at the football game. Right. Does anybody expect to win a super bowl without ever letting the opposition ever score any points against us?   Wendy Sweet 01:16:41 That's   Rob Napolitano 01:16:42 Right. No, that, that, that, that's just totally ludicrous to have that expectation. Of course the other team is gonna score. The idea is to obviously score more than them or slow down how potent their offense is. So they don't score more than us, but don't have the expectation they're not gonna score.   Jonathan Davis 01:17:00 Yeah, exactly.   Wendy Sweet 01:17:03 You know, the other thing too, I think that's really important for people to understand whether you are an investor or whether you are lending. You need to have a healthy fear, but you can't live in fear. No doubt finding that balance of, of, you know, here's your plan a, but here's my plan B my plan C and my plan D you know, you, you try to make sure that plan a is gonna work, but you have to have the risk mitigators in place to be able to follow up with plan B, C, and D, and make sure that what's the worst thing that can happen. Can you live with that?   Rob Napolitano 01:17:52 So I call that awareness very simple, right. I have a 12 year old daughter, and we're in the conversations now of my 12 year old daughter and, and dealing with drugs, not that she's dealing with drugs, but we're making, we're telling her, she's   Wendy Sweet 01:18:07 Dealing drugs again.   Rob Napolitano 01:18:08 Yeah. You tell her, stop touching my drugs now. So we talk about, we talk about drugs and at, at her age at 12, and in the next couple of teen years, she's gonna be experiencing that and she's going to be exposed to that. Right. And we show her some of the things that can happen with drugs. We talk about it. We talk about things that, not that I'm trying to be doom and gloom, not that I'm trying to scare her. Cause some of these things are scary. And I tell her this, this is not to scare you. This is not to stay, stay away from people that you don't know or, or, or, or, or all your friends. Cause you can come from anywhere. Okay. But it's to make you aware that as you go out into the world, this exists, you can have friends relationships, you can go out and you know, other people's houses, parties, and, and other events and stuff and everything enjoy life, but be aware and be in tune that these risks are out there as well and act accordingly and be prepared for it.   Rob Napolitano 01:19:04 So by being prepared, it's not necessarily a doom and gloom thing or out there to try and scare it. But it's a matter of awareness. And honestly, that's, that's, that's part of the distinction between winners and losers in this business, right? I mean, being aware, being able to absorb the risk, embrace the risk, embrace the loss, embrace the failures and know how to move forward from there is a key difference and anybody can do this. I mean, anybody can accept a failure. Anybody can, you know, take the right mindset and move forward and move through things. Anybody can do that. So anybody can make money in this business or any business really. There's no real secret to it. You can do it. That's   Wendy Sweet 01:19:43 Right.   Jonathan Davis 01:19:44 No, there's, there's, there's good risk mitigation and good timing. And that's, that's probably about it.   Rob Napolitano 01:19:51 Timing. I think timing only really applies in, I forget what the second thing was, but the first thing was sex was timing. And the second thing I guess, was racing. I thought it was sports, sports and sex. And we know two things that timing was really important, but I don't know, someone else told me that earlier today and just stop whatever, but you can't time a market that you can't do.   Jonathan Davis 02:20:15 No. It's it's time timing. Yeah. I mean, it's just coincidence.   Rob Napolitano 02:20:20 Yeah. You know, you know what just, you said before Jonathan too, is that, you know, you see these things happening over and over again. This is so we're going through right now. And, and, and in not only here in our country, but in the world, we're going through one of the greatest wealth transfers that our time has ever seen right now. But just because we haven't seen it before, doesn't mean this hasn't happened before empires have grown and fallen all throughout the course of, of history and humanity. Okay. We just happen to be on the downside of a, of a falling empire going on. When you say, when you say transfer of wealth, what are you referring to? There's always when, whenever, whenever, so a couple of things going on here, I don't want to get too overly, hyper technical with it, but many times we'll keep it real simple for principle purposes.   Rob Napolitano 02:21:09 I know we're limited on time, but many times civilizations rise and fall based on consumption and debt and, and, and money and the use of money. And, and, and, and, and, and the control of money gets to a point where gets outta control. It. It's like, it's like keeping your own credit card and your own house and order your own balance. You know, you get two outta control, you end up in a bankruptcy, right? Cause you, you have to take too much debt. You don't have enough income and it's just, you know, regular economics, 1 0 1 and economies go through that. And, and, and world powers go through that as well. And we're at a point now where we've taken on, not just here, but around the world, too much debt with not enough consumption. And we're seeing the loss of, of power in purchasing power, the, the us dollar as a world reserve currency.   Rob Napolitano 02:21:53 But again, I don't wanna get too macro, but the point of it is that when you, when that happens, it's similar in real estate. When people take on too much debt on their real estate and they go into foreclosure, okay, the debt has to get restructured either has to be cut in half, not half, but it's gotta be cut, take a haircut and it's gotta be resolved and it's gotta be unlevered. Okay. And when that happens, there's not many people that know how to do that, to understand the money and how the wealth occurs. You set it before that BlackRock is, is, is, is, is ramping up to, you know, pick up all these distressed homes. Okay? Perfect example. They're getting ready for the wealth transfer to take homes from people who can't afford it into their own portfolio and their investors. It's the same thing with debt.   Rob Napolitano 02:22:36 We're gonna see a lot of transfer of, of wealth and financial assets and real estate coming. And we're gonna see a great opportunity to, to grab some of this piece of apply for ourselves. Okay. We're gonna, I mean, there's, opportunity's gonna be tremendous. Everybody should be getting involved one way or another with the right partners. Because remember, while there's always one party that's winning on the other side, there's always another party that could be losing too. So who you pick as your partners and who you go through this with is very, very, very important. And people must be doing, doing this. The challenge that I see with, with, with, with investors out there, and I'll come back in real, into real estate, but I'll make it more generic is that people agate the responsibility of building their wealth to financial advisors, traditional financial advisors that want build into traditional stocks. And guess what, maybe before inflation that worked, but that doesn't work anymore, right? That model is gone. People need to take back responsibility for building their own wealth for their own family and make their own decision and stop abdicating that out to some other financial advisor. Who's gonna put you into something where he's betting against it, that you're gonna lose. I mean, that's part of the game. Part of the game is they put you into things and they bet against it. You're gonna lose. Okay. Yeah.   Jonathan Davis 02:23:53 That's, that's just like we had Chris miles on here a week or so ago. And you know, his father, you know, did the whole stock market, had a financial advisor. He retired. And then he met with, with, with him and said, you know, how much time do, how much runway do I have? And he was like, well, dad, you you've gotta die in five years. Cause that's, that's all you got. And it's like, and he is like, well, where did I go wrong? He's like, you didn't, you did everything that you were supposed to do, everything that you were told to do. Yeah. And that's because that model doesn't work. Yeah. Yeah.   Rob Napolitano 02:24:31 And I think people need to look at, look, I talked to a lot of people. I think the real issues out there today is, you know, now we're in the aftermath of a multi-year pandemic that affects different people, different ways, right? Whether we're going into a session, depending on how you wanna define a recession, you know, people are in a recession. People are not in recession the way you are. We have runaway inflation. Taxation is going off. The rails mortgage rates are going up. Crypto is crashed over 50%, right? We get massive layoffs. We're getting scarcity and resources and supply chains. We're getting energy crisis wherever we are. And then you got all this increase in violence and social stability. This all has to do with money. This all has to do with, you know, survival of the fittest financially. Okay. And going into stocks, look at where that's gotten us, look at where we are, right. Doing it personally for yourself, with real estate, with the right partners and taking responsibility for yourself is what people have to do. Which goes back to what I said, four, I did it with my feet and I picked up my family. I moved them elsewhere, mitigating the risk of living up there because of taxation, number, other reasons, but because of taxation as well, it's part of the risk mitigation, part of keeping what you've earned.   Wendy Sweet 02:25:43 That's right. And you know, you also talked about being with the right partner. Bill, put a statement in, I don't know if he's actually in the air now and he can't hear us anymore, but he, he wrote in the comment section in the right real estate space, your investment can be both growth and defensive. And I think what people need to understand is there's different ways of protecting your wealth. You have a fund, we have a fund. When, when you put your money into a fund you're you're with other people, you are mitigating your risk by being spread out of that's right. A number of loans or don't number of notes.   Rob Napolitano 02:26:22 That's right.   Wendy Sweet 02:26:23 One goes bad. You're not, you know, when the toilet, if you're one on one, you're in the toilet, that's   Rob Napolitano 02:26:29 Right. All your eggs are in one basket at that point. Right. And that's why I'm a big advocate, especially, you know, so that's diversification, right? You wanna diversify your portfolio, right. You wanna diversify as best and as, as granularly as you can. And so your point there is that when, when someone invests in a fund you're diversifying and spreading your risk across all the assets inside their fund and not just one particular asset that's right. So yeah, that's, that's absolutely a good move to do for diversification. That's   Jonathan Davis 02:26:57 Right. Yeah. I mean, we, we, we talk about, you know, geography, diversification, asset diversification. I mean, there's many different ways to diversify also wanna point out there are many ways to over-diversify. Yes. So, you know, pick the things, diversification in the places and things that, you know, best, not just everything and try to shoot a shotgun pattern, you know? Yeah.   Rob Napolitano 02:27:24 Yeah. And that's why the cookie cutter portfolio stuff doesn't work. Right.   Wendy Sweet 02:27:28 Because   Jonathan Davis 02:27:28 This is perfect. It's shotgun. Yeah.   Rob Napolitano 02:27:30 It's, it's, it's, it's, it's, it's personal. Everybody's, everybody's in a different stage of life. Everybody has different dreams and aspirations. Everybody, you know, has, are on a different path to have different types of successes in their life. Okay. When's the last time a financial advisor, you know, other than coming over to pick up a check, actually sat and, you know, talked with your children and wanted to know what they wanted to be when they grew up. Right. Had that intimate with your kids. Yeah. I haven't seen that happen.   Wendy Sweet 02:27:59 Yeah, you're right. We are over our time limit already by really fast   Jonathan Davis 02:28:07 It's time flies when you're having a good conversation. It's good stuff.   Rob Napolitano 02:28:10 I just started slowing down my speech. I just started catching my breath, flowing up.   Jonathan Davis 02:28:14 Just got settled in.   Wendy Sweet 02:28:17 We're gonna self destructive. We don't close it up.   Jonathan Davis 02:28:20 Well, before we do wrap up, I do everyone out there. Our question of the week. I wanna go ahead and throw that out there. I guess we're not gonna have a graphic for that's. Okay. How do you mitigate risk? We want to know. I mean, there's all kinds of ways to mitigate risk. We mentioned, you know, diversification through assets, through geography. What do, what do you do? So we would like to know, know that   Wendy Sweet 02:28:48 And that they can go right online. And even the recording, you can respond to that question on this recording. We will see your answers on this. And Rob, you have been just a wealth of information. We'd love to have you back.   Rob Napolitano 02:29:03 Oh, I, this is, this is a lot of fun.   Jonathan Davis 02:29:06 I, I told him already, we're gonna have to have a part two so that, that that's gonna have to happen.   Rob Napolitano 02:29:12 All right. We'll have to have part two. Okay. Fine.   Jonathan Davis 02:29:15 Twist your arm. Well, all right guys. Well, thanks so much for joining us on the real estate investor show. We are Carolina, hard money, Carolina, capital management. If you are a rehaber or a real estate investor, you can go to Carolina, hard money.com and click on the apply. Now tab, if you are an investor and seeking outsized, passive returns, you can click on our credited investor tab and don't forget to like share, subscribe, hit the bail and join us next week. We'd love to have you.  

Kill Rock Radio Podcast
Kill Rock Radio Episode 123

Kill Rock Radio Podcast

Play Episode Listen Later Aug 26, 2022 39:59


THIS EPISODE: All time great metal band, METALLICA have seen an uptick in popularity because of Stranger Things. Now those new fans have decided to "cancel" Metallica. Tommy Lee's latest dick pic has set the internet ablaze. Is Tommy's wiener the most famous ever? Jonathan Davis of Korn Feels we've "moved on" from talent. We read your comments AND MORE! Subscribe to Kill Rock Radio on your favorite platform: Spotify open.spotify.com/show/13Kdzty... Apple Podcasts podcasts.apple.com/us/podcast... Send your questions/comments to: info@killrockradio.com

C Tolle Run
290: Jonathan Davis - Chip On Our Shoulder

C Tolle Run

Play Episode Listen Later Aug 25, 2022 31:01 Very Popular


Carrie chats with Jonathan Davis! Jonathan is currently the fastest US 1500m runner, having set a new personal best of 3:33 just after the World Championships. They chat about his recent contract signing with Adidas, joining the Atlanta Track Club, going for his CPA certification, making music, eating pizza (Chicago-style, of course), and much more!

Nervous Laughter Podcast
Episode 44: The Chocolate Starfish Research Project

Nervous Laughter Podcast

Play Episode Listen Later Aug 24, 2022 62:09


The Fred Durst Special! Checkout the costumes on instagram @nervouslaughterpodcastThe ladies open with a little update - D-rock responds to the shots fired and what does “taste buds on your anus” really mean?! Then hop into the magical world of some random Fred Durst things in honor of his recent birthday. Write us some of your cringe stories at nervouslaughterpodcast@gmail.comThe socials: Instagram | Facebook | Twitter

Business Trip
Microdosing (part 3): The path to FDA approval w/ MindMed and Diamond Therapeutics

Business Trip

Play Episode Listen Later Aug 16, 2022 58:24


This is final episode in our 3-part series on microdosing that explores the science, history, and clinical applications. In this episode, we discuss the path to FDA approval for microdosing. We chat with the chief medical officers from Diamond Therapeutics and MindMed about their microdosing clinical programs. Diamond's program uses synthetic psilocybin and is focused on anxiety disorders. Meanwhile, MindMed is focused using low doses of LSD to treat adult ADHD.  Our guests are Dr. Michael McDonnell (Diamond Therapeutics) and Dr. Dan Karlin (MindMed).In case you missed it: In part 1, we interviewed psychedelic researcher James Fadiman about the fundamentals of microdosing. In part 2, we discuss placebo effect and the results of a self-blinded placebo-controlled study with Balázs Szigeti from the Centre for Psychedelic Research at Imperial College London.Disclaimer: This is not investment advice and is for information and educational purposes only. Credits: Created by Greg Kubin and Matias SerebrinskyHost:  Greg Kubin and Matias SerebrinskyProduced by Jonathan Davis & Zack FrankFind us at businesstrip.fmFollow us on Instagram and Twitter!Theme music by Dorian LoveAdditional Music:Distant Daze by Zack Frank

CKCC Radio: Home of Club Kayfabe's Community of Podcasts
J-Bunny's Music Hub Episode 72: Ryan Shuck (Adema, Julien-K, ex-Orgy, ex-Dead by Sunrise) 8-9-2022

CKCC Radio: Home of Club Kayfabe's Community of Podcasts

Play Episode Listen Later Aug 13, 2022 65:12


J-Bunny sits down on Skype and talks to Ryan Shuck of the bands Adema and Julien-K, and formerly of Orgy and Dead by Sunrise.  They discuss Ryan's start in music in the band Sexart with Jonathan Davis from Korn, how that friendship led to Orgy signing with Korn's label Elementree Records, why the original lineup of Orgy disbanded, and whether there is a possibility of ever reuniting. They also cover how issues at the end of the original lineup of Orgy led to the formation of Julien-K, how Ryan's friendship with Chester Bennington led to the collaboration between Julien-K and Chester called Dead by Sunrise, and how the creative process for Julien-K compared to that of Orgy. On the Adema front J-Bunny and Ryan discuss the band's tumultuous relationship with original singer Marky Chavez, why some of the band's later material is not available to stream on Spotify, how Ryan became the band's latest singer, and what their plans are for the future. And of course, they discuss Ryan's thoughts on the current state of the music industry. Podcast intro "Rock Intro 3" courtesy of audionautix.com. "Desperation Day" is the latest single by Julien-K featuring The Anix, and "Violent Principles" is the latest single by Adema.  Both songs were included with the permission of Ryan Shuck.

Business Trip
Microdosing (part 2): The placebo effect with Balázs Szigeti

Business Trip

Play Episode Listen Later Aug 10, 2022 37:28


This is part 2 or our 3 part series on microdosing that explore the science, history, and clinical applications. In part 1, we interviewed psychedelic researcher James Fadiman about the fundamentals of microdosing. In part 2, we wanted to understand the placebo effect. In particular, is it the microdose that makes people feel better or it is a placebo effect? We interviewed Balázs Szigeti PhD, who is a researcher associate at the Centre for Psychedelic Research at Imperial College London. His team conducted the largest placebo-controlled microdosing study in 2020. Balázs unpacks the study and their findings in the episode.Credits: Created by Greg Kubin and Matias SerebrinskyHost:  Greg Kubin and Matias SerebrinskyProduced by Jonathan Davis & Zack FrankFind us at businesstrip.fmFollow us on Instagram and Twitter!Theme music by Dorian LoveAdditional Music: Distant Daze by Zack FrankZone Out by Daniel FridellLinks to topics discussed in this episode:Self-blinding citizen science to explore psychedelic microdosing (Szigeti et al., 2021)Centre for Psychedelic Research - Imperial College LondonStatistical and clinical significance

Locked On Big 12 - Daily College Football & Basketball Podcast
Can The Texas Longhorns Offense Carry Them To A Big 12 Championship - 2022 Team Previews

Locked On Big 12 - Daily College Football & Basketball Podcast

Play Episode Listen Later Aug 5, 2022 26:50


Jonathan Davis of Locked on Longhorns joins Josh Neighbors to break down the Texas Longhorns for 2022. In the show the guys touched on the explosive offense that Texas comes into this season with. They give their thoughts on if the offense will be enough to carry them into the Big 12 Championship game. They discuss the defense and if it will take step forwards this weekend. Can The Texas Longhorns Offense Carry Them To A Big 12 Championship - 2022 Team Previews https://www.youtube.com/channel/UCIaiqufEekxiTnnLc129t2g WANT MORE DAILY BIG 12 FOOTBALL AND BASKETBALL CONTENT? Follow & Subscribe to the Podcast on these platforms…

Summer Of Miles
Episode 83 - 2022 Sir Walter Miler Athlete Panel

Summer Of Miles

Play Episode Listen Later Aug 4, 2022 58:36


Kicking off the 2022 Sir Walter Miler week is the first Sir Walter Miler Athlete Panel with Megan Mansy, Emily Richards, Jye Edwards, Rorey Hunter, Jonathan Davis, Rob Heppenstall, Eleanor Fulton, Gabbi Jennings and a special appearance by Colleen Quigley.

Business Trip
Microdosing (part 1): James Fadiman and the fundamentals of microdosing

Business Trip

Play Episode Listen Later Aug 3, 2022 33:06


In this 3-part series on microdosing, we explore the science, history, and its clinical potential. The anecdotal benefits of microdosing include better mood, creativity, and increased focus. But there are still many unanswered questions that remain. What is an effective dosing protocol? Is it safe in long term use? Does it even work or is it a placebo effect?In part 1, we chat with James Fadiman, Ph.D who has been researching psychedelics since the 1960's. He's the author of several books, including the Psychedelic Explorer's Guide. He has collected thousands of microdosing reports and even has his own microdosing protocol - called the Fadiman protocol. When we talk about standing on the shoulders of giants, James Fadiman is one of them.Credits: Created by Greg Kubin and Matias SerebrinskyHost:  Greg Kubin Produced by Jonathan Davis & Zack FrankFind us at businesstrip.fmFollow us on Instagram and Twitter!Theme music by Dorian LoveAdditional Music: Distant Daze by Zack FrankLinks to topics discussed in this episode:Jim's microdosing websiteSofia UniversityThe Psychedelic Explorer's GuidePsychedelics Promote Structural and Functional Neural Plasticity (Ly et al, 2018)

Rule The Galaxy Podcast
Chapter 154 - The Duchess and a Great Star Wars Voice - Jonathan Davis

Rule The Galaxy Podcast

Play Episode Listen Later Jul 29, 2022 60:13


In this Episode of Rule the Galaxy, Jessica, the Duchess hosts, Alfie co-hosts, and Star Wars Audiobook Narrator Jonathan Davis is our guest! Check out some great Star Wars conversations!

Two Scoops with Sprinkles
Episode 9: With Sprinkles of "What Do Pastors Do All Day?" featuring Rev. Jonathan Davis and Rev. Chandler Machemehl

Two Scoops with Sprinkles

Play Episode Listen Later Jul 28, 2022 41:00


Join us as we talk to TWO pastors about how they got into ministry and how they spend their time when they aren't preaching on Sundays. Find out a few things they are chill vs not chill about and if they will recognize some Wow Worship tunes hummed by us.

thePGshow
2022 Texas Longhorns Football Preview | thePGshow | Locked On Longhorns

thePGshow

Play Episode Listen Later Jul 24, 2022 54:09


Today I breakdown the upcoming season for the Texas Longhorns and their 2023 recruiting class with Jonathan Davis with the Locked on Longhorns podcast. Is Texas back? Who will have the best season this year? Who are the Heisman candidates for Texas? Will Texas beat Alabama, OU, Baylor and Kansas? What prospects are Texas fans most excited for, Arch Manning, Johntay Cook II or Derek Williams? Locked On Longhorns Podcast: https://www.youtube.com/c/LockedOnLon... Watch online: https://www.youtube.com/watch?v=bM3VxnMbILs&t=432s Follow me: thePGshow Instagram: https://www.instagram.com/thepgshow.cfb/ Twitter: https://twitter.com/thePGshow_ Facebook: https://www.facebook.com/Thepgshow-10... Instagram: https://www.instagram.com/pgant24/l

The Living Force: A Star Wars Podcast by Youtini
Ep 172: Jonathan Davis Interview

The Living Force: A Star Wars Podcast by Youtini

Play Episode Listen Later Jul 22, 2022 67:38


The odds are high, very high that you've heard Jonathan Davis's voice come across your speakers when listening to a Star Wars audiobook. As the narrator to three of the six essential novels from Youtini's MUST READ collection, Jonathan Davis's iconic voice has made us root for the villain in Darth Bane: Path of Destruction while also leaving us on the edge of our seats as young Obi-Wan in Master and Apprentice to name a few. He delves into his early inspirations for becoming a voice actor and discusses how he started with Star Wars and what characters he loved portraying. Send any and all questions to livingforcepod@youtini.com, tweet at us @LivingForcePod, hit us up on Facebook, watch LIVE on YouTube, and don't forget to join the discussion on Discord at http://youtini.com/ (Youtini.com). Help the galaxy find us by leaving a review and please remember to subscribe!