Podcasts about PPM

As the Northeast US faces another heatwave, we take a look at some of the data behind particular climate issues.On Today's Show:Radley Horton, professor of climate at Columbia University's Climate School, connects the dots between hotter temperatures, air quality and Canadian wildfires. 

Daniel und Jan kehren nach einer langen Pause zurück – planlos, aber motiviert. Zwischen angespielten Games und halben Erinnerungen versuchen sie, den Überblick zu behalten. Spoiler: Es klappt so mittel. 00:00:00 Intro - Ventilator, CO2, PPM und wir sind wieder da Thema 00:04:55 Angespielte Spiele und Daddel Gebabbel 00:18:29 Was habt ihr zuletzt gesehen? 00:30:12 Verabschiedung ----------------------------------------------------------------------------- Webseite: https://daddel-gebabbel.de​ Twitter: https://twitter.com/DaddelGebabbel​ YouTube Kanal: https://youtube.com/@DaddelGebabbel ----------------------------------------------------------------------------- iTunes: https://podcasts.apple.com/de/podcast/daddel-gebabbel/id517525795?l=de%3Fl%3Dde Spotify: https://open.spotify.com/show/3powDJyQdCznbnQvDBWz7A RSS-Feed: https://feeds.soundcloud.com/users/soundcloud:users:68854568/sounds.rss SoundCloud: https://soundcloud.com/daddelgebabbel​ ----------------------------------------------------------------------------- Support: Alle Infos, wie ihr uns unterstützen könnt, findet ihr hier: https://daddel-gebabbel.de/Unterstuetzen/ amazon Wunschliste: https://www.amazon.de/registry/wishlist/2VCTU2CUX74PD ----------------------------------------------------------------------------- Das Team privat: https://daddel-gebabbel.de/Das-Team​ Jan PSN ID: Fischer-88 Nintendo ID: SW-2525-7619-0207 Xbox ID: FischerMinus88 Twitter: @FischerMinus88 Daniel PSN ID: Limettenpferd Nintendo ID: SW-2687-8807-4870 Xbox ID: Limettenpferd Twitter: @Vondergraaf Maik PSN ID: Lixmo Nintendo ID: SW-2984-8435-2693 Xbox ID: Lixmo Twitter: @Lixmo

Nic McGrue is the founder of Polymath Legal PC, a boutique law firm focused on helping real estate investors lawfully raise capital through syndications. With over a decade of experience and licenses in California and Washington, Nic specializes in securities law and real estate partnerships. He's also a tenured business law professor who brings both legal and practical insight to every client, helping them raise money legally while protecting themselves and their investors.    

Title: The Truth About Capital Raising That Your Attorney Won't Tell You with Devin Robinson Summary: In this episode of the “Funds on Fire” podcast, host Devin Robinson interviews Seth Bradley, a seasoned SEC attorney and a friend. Both share insights into the world of capital rasing, investment funds, and legal compliance. Robinson highlights the rapid learning curve and opportunities within the fund management landscape. He discusses his background in raising millions for real estate ventures and transitions into the value of complying with SEC regulations when raising capital. The conversation sheds light on common misconceptions surrounding securities law, stressing the importance of education and understanding regulations related to passive investments. Bradley offers practical advice on starting investment funds, the advantages of teaming up with experienced SEC attorneys, and the evolving trends in alternative investments, particularly in light of recent market changes. He emphasizes the necessity for diversity in investment management and the need for entrepreneurs from all backgrounds to have access to the financial education that empowers them to raise capital and scale their business ventures effectively. Links to watch and subscribe: https://www.youtube.com/watch?v=P-w_w6WAUVw Bullet Point Highlights: Capital Raising Insights: Devin Robinson shares his journey in successfully raising millions for investment projects. Legal Compliance Importance: Seth Bradley emphasizes the significance of understanding SEC regulations to avoid legal troubles in fund management. Fund Management Strategies: Discussion on navigating funds, from 506(b) to 506© offerings, providing clarity on compliance requirements. Education Gaps: The necessity for education in the finance and investment space is underscored, highlighting the lack of resources for aspiring fund managers. Diversity in Investment: Recognition of the disparity in investment opportunities for minorities and the importance of fostering diversity in fund management. Trends in Capital Raising: A shift towards fund-of-funds structures and other innovative investment vehicles as alternatives to traditional capital raising models. Confidence Building: Advice encouraging newcomers in investment to be confident and educated, asserting their place in the industry. Transcript: raised tens of millions of dollars myself as well as um you know we purchased just in 2022 Alone um I was a GP on over $120 Million worth of commercial assets we don't want to say anything that might get us into trouble you know I'm I'm an entrepreneur first so I'm out there to to educate it started going down you started seeing some people get in trouble but all along the way on that rise up he's suing anybody because they've been getting their returns and they've been everybody's been crushing it and even if   you're a terrible operator you've still been crushing it because the market saved you and nobody's getting sued so it's all good until it's not welcome to funds on fire the podcast that ignites The Passion of investment funds in capital raising here we turn the complexities of fund management into clear actionable steps that drive results I've invested into diverse real estate across the United States and managed thriving funds and I'm committed to transforming lives through the vehicle of investment funds and helping   others to do the same join me as we document the Journey of scaling businesses raising capital and impacting tens of thousands of people around the world my name is Devin Robinson and welcome to funds on fire on this episode of the podcast I actually interview Seth Bradley who is an SEC attorney and has become a really good friend of mine so him and I met a couple years back at raay Fest and which is we're part of a mastermind for Capital raising and fun launching and then both of us as we've become friends   as we did this podcast interview gosh a couple of months ago and then now I've launched the podcast and even since then this is pretty cool him and I have actually started a partnership on um on helping people to launch uh manage scale and raise capital for investment funds and it's something really cool so you'll hear more about that later but it's really cool that it started uh with this podcast we both are very like-minded people we both have very similar goals and desires especially when it comes to   Capital raising and the access to information with when it comes to that and for other people to be able to learn how to um honestly be able to launch and scale an investment fund and there are so many people that have the ability to do it have the um the skills and the knowledge to do it but don't have the opportunity to do it or honestly just think it's too hard to do and so I'm so excited because partnering with somebody like Seth is incredible he's a guy who has helped hundreds of people to launch   and manage their funds or would just really launch their funds he has raised hundreds of millions of dollars and invested into hundreds and hundreds of millions of dollars worth of real estate himself and so to be able to partner with him on something like this is really really awesome so I'm excited for that as we talked through his journey talk through all the things as we go through his progression from just being a real estate attorney to then an SEC attorney that goes and helps people to launch and manage funds his involvement   in that some of the things he's doing and honestly it's going to be a really good conversation for you all to hear how to stay compliant how to make sure that you guys are raising Capital appropriately how to make sure that you guys aren't going to get in trouble with the SEC because of how you guys are raising Capital so excited for this really pumped for this episode just thought I'd give you a little preface before we dive in you are going to want to listen to this cuz he is awesome and I'm excited so thank you so much enjoy   the episode all right what's up and welcome to this episode of funds on fire I I love this uh because today we have a friend of mine Seth Seth we go back I don't know like at this point I feel like it's like two years now or a year and a half what we met at Ray's Fest a while ago and I'll tell you I was super impressed by this dude because we met we met at a bar we were like at this event we had guess us that's right that's exactly right we were at this event for Ray Fest and like I'd gone downstairs he was   chilling I was chilling we started talking and I was like I like this dude because one he's not like the typical like white dude that's here he's all tatted up he's really cool and then I realized he's by far the smartest in the room and I was like yo Seth is the man so Seth I would love for people to tell or for you to tell people like who you are and what you do I've enjoyed keeping up with you over the years content you're putting out is incredible and so if you haven't give this man a follow   ESP if you want to stay compliant with funds and the legal aspect of it cuz he's doing some really awesome stuff and I love how just like fit you and your Wi-Fi that's pretty cool too so I respect that too so Seth like tell people who you are where you're from what do you do cuz I think it's going to be important for people to know you all right man Deon I appreciate that intro brother yeah it was it was great meeting you back in the day now we've kind of followed each other on social media and   kept in contact and loved it love it man love it but I'm I'm a Securities attorney so anytime you're raising capital from passive investors you can get me involved I've got I've got the pedigree I worked in big law for seven years before starting my own Boutique Law Firm I think what people like the most about working with me is that I actually come from the business side as well so I'm a syndicator and a fund manager myself so um you know I've raised tens of millions of dollars myself as well as um you know we   purchased just in 2022 Alone um I was a GP on over $120 Million worth of commercial assets so you know I come from not just the legal side but also the business side and I look at every single deal like you know whether I'm you know actually an equity holder or I am just the vendor as the Securities attorney I look at the deal like hey how are we going to get this thing done right a lot of attorneys kind of get in the way um I don't want to get in the way I I will tell you what the risks are what your liabilities are what you might   be opening yourself up to what the gray areas are but at the end of the day you're the business person and you're the entrepreneur so you make the decisions based on the information that I give you so I'm I'm there to help you you get the deal done that's cool man cuz like I know man there's a lot of misconceptions about funds and so one I can tell you I really appreciate I really appreciate you because I have had some not so great SEC attorneys that I was not a big fan of then I've had some good ones and so I'm thankful for it and   so when it comes to that uh we're going to we're going to talk about compliance because that's super important but we'll also talk about uh because I I I guess so I'm in another Mastermind I think I was going to bring this up a little bit later but I'll bring it up now and I want to talk about the importance of finding a good attorney because like I I'm in a different Mastermind and it's more of an operators based Mastermind like how to a lot of single family things and I I talk to people and I'm like and because I'm   going to set the groundwork for this podcast but I talk to people and they're like oh yeah I've got some friends they've let me borrow some of their money and I'm just using that money and I'm like oh hold on uh what do you mean and so I talked to like I mean I can't tell you the last po I was there two months ago three people told me this said three people and so they were like they were like yeah so I have an LLC and they wire the money into my LLC account it's like three or four friends they   wire this money into my LLC account and then I use it and I give them a return and I'm like you need to call an attorney right now because you are literally violating Securities Law like you you you are and they're like wait wait wait okay but but what if what if they they say we we sign up you know a promisory note they put it in here and I'm like security and then they're like okay but what if that the the the people hold it an escrow our attorney is holding an escrow I'm like security and so like just to even like set the   groundwork what is like what what is a security and and and what do you see most often when people come to you and they're looking for an attorney and they're like hey I'm doing this is this legal and you're like no that's not legal but what do you see like what is the security and what is the misconception or the mistake that you see a lot of people make when they come to you yeah I mean you just said it so the number one problem or the the biggest problem I see every single day is just the lack of knowledge like   people just don't know and there's there's maybe a fine line there between not knowing and not caring enough to know right exactly you're like I know I'm doing something here and I don't care to look into it a little bit further to figure it out but that's but that's really what it comes down to is just not having the knowledge because you think like you know I'm just going to you know me and this guy are going to partner he's going to give me all this money and they're not going to do anything and they're going to they're   going to expect a return on their investment and all that kind of stuff and it's all good but it's not you're getting yourself into into issues you know to define a security in a in layman's terms I like to just say look if you've got a passive investor involved in your deal and they're expecting a return on their money and on the actions that you're taking as the active participant then that's a security and that that's it like if if you have a passive investor meaning they're not you know making decisions   they're not managing they're not helping you out on the active side that's a passive investor and you're probably dealing with the security right and this is what I think separates like syndication from the fund right so like if you have a syndication and then you have somebody who is brings the capital typically they're making some of the decisions which makes them a little bit more active so then it's not in that sense of violating that Securities laws if it's just either like one person or even a couple a group that's actually   making decisions on that and I guess that's not the main differentiator between a syndication and and a fund but I think that's where people get confused is the passive part of things that's right that's right it's the passive part of it right like you have people that come in whether it's a syndication or a fund if if they have um some sort of managerial rights or meaningful voting rights because you'll see if you if you invest passively in a deal and you read through the PPM and the operating   agreement you'll see that you really don't have any rights to make any sort of decisions there might be some convoluted way that you might be able to get the manager out if a b c d and f happens but probably not so you'll see that you're really passive right and if you're passive then that's a security that you're dealing with you're investing into security cool that's cool and I appreciate us understanding that groundwork because I want people to listen to this I want people in my Mastermind to listen to this I want   people to just hear and understand that more often times like more than you think there are people clearly violating SEC like security law and so I just want to make sure that people are compliant and this is like you mentioned it earlier and I think that's really important is just the lack of Education side of things and you and I talk about that we talked about this before this of like really there's only like two main Educators in this space that are doing this and unless you know those two you   run the risk of not really being honestly educated enough to run a fund unless you have the self-education side of these and so I love like what you're doing and the content you're putting out especially from a Securities attorney aspect to be able to help that what what have you seen has been like the main sources of Education because even just like outside of what I do outside of what you do uh are there other sources of Education since you've been in this space longer than me that people can go to to gain more   information about what it looks like to raise a fund or uh or even start looking in that direction yeah dude it's tough out there right like you just you just said it and I I'll just name him I mean Hunter Thompson has some really good content that he puts out love Hunter super intelligent guy great stuff it's about raising Capital 4 real estate specifically which is great for the for your audience um and then Bridger Pennington of course um his is a little bit not necessarily real estate related   more in the private Equity space but also real estate sometimes and those are really the only two guys that are putting out content um typically before them you're really getting your education from your securities attorney that you engage with you know that can you know they're going to give you legal advice they're not going to give you kind of like you know they they'll review your marketing materials and things like that to tell you hey this is compliant this is not maybe this is what you should do this is what you shouldn't   do but there's not really anything comprehensive out there where you put the whole package together when you're really trying to start a capital raising business other than those two guys right now so you know there's a lot of room in that space for people to to step in and do it and and also you know Securities attorneys if you look I mean there's only a few of us putting out any kind of content cuz you know as an attorney most most of us are pretty conservative we don't want to put ourselves out there we   don't want to say anything that might get us into trouble you know I'm I'm an entrepreneur first so I'm out there to to educate and that's what I was going to ask so for you man just like a little bit about your journey because like it's not every day that you meet a a Securities attorney now granted we are at a fund event so then like of course you're going to run into a Securities attorney but like honestly you you I feel like and this is kind of cool I feel like me and you don't fit the molds   of our role like for like we're tatted like you know like you know I'm saying we're tatted we're a little bit more laid-back I got I think I posted this the other day I graduated college with a 2.3 GPA like I I just am not very qualified of what you would put the normal qual qualifications of a fund manager would be but for you like for you how did you get started and like what Drew you to Securities Law cuz it's a very specific Niche to be in for sure yeah and I really got started in real estate law so I was always drawn to real   estate I just knew it was a great investment I've just like intrinsically loved real estate I don't know what it was like even when I was in undergrad I was like man it would be so great to own these tow houses that I'm living in like things like that I've just always been attracted to it and investing in it so I started investing in it myself I started out doing real estate transactional law oh cool from that from that perspective and then I realized that you know raising Capital was a little bit more   sophisticated I I like that aspect better and I started gravitating towards that and got into Securities Law and and again at the same time as I was doing that I was also starting to Syndicate my own deal so um pretty interesting that I got kind of the legal side got the business side going at the same time so it gave me really good perspective that's cool so you talked about your journey a little bit I love like diving into that Journey because you you said that you you were in on some of your own   deals so you started as real estate attorney chop that like started doing that were you like a closing attorney yeah yeah okay so like a closing attorney uh and then started did you get to a point where you're like yo I see all this money that people are making I kind of want to do that is that how it like switched into you becoming an active investor into real estate uh yeah somewhat man I mean I took kind of the traditional route of real estate investing I read Rich Dad Poor Dad I started listening to Big Pockets the   purple Bible you know it man what it is um yeah did all that and house hacked into a duplex I mean that was my first property started fixing and flipping a few few property still own some single family those sorts of things um and then you're San Diego right I'm in San Diego yeah but I'm originally from West Virginia West Virginia West by God Virginia that's right all right I mean like I feel like if you I feel like if you're from there you would say something like that that does make sense that does make that's the say that's   what we say West by God Virginia no I don't know anything about V West Virginia but now but now I do so now do you own some of your properties in in very two very different markets West Virginia or San Diego is that like where you own them or are you in other markets they're all over the place so like we invested I lived in Charlotte for a little bit like you know so own a couple properties there own a property in West Virginia that duplex that I was telling you about cuz I moved there for a job really you know California is   tough like to make anything cash flow there's some Adu opportunities right now for that but really just own the house that I live in then I have a condo that I rent out up in Orange County and that's about it but the other ones are all kind of all over the place like we invested in Cleveland for a little bit as well oh yeah some multi family stuff in Cleveland that that was kind of in the single family phase but as far as like the multif family the retail a lot of that was like in the midwest um in   the in the um in the sun sun Bel area so all over the place and we did like industrial we did retail we did multif family um all all sorts of stuff man on the commercial side and it's good to know that background for you like not that background but like you had the ability to understand and how to structure some of those deals um and so I'd love to I'd love to talk about the structure of funds a little bit because this is sure I'm going to as the question that I think like everybody wants to ask an SEC attorney about the   difference between a 506b and a 506c and then what constitutes like having that pre-existing relationship right because like if you have a 506b or a 506c there's certain stipulations but those are the two most common right like 90% of funds are 506 BS or 506 C's and so and if I'm wrong just just let me know but I believe that's like the statistic and and with those what constitutes the differences and then the pre-existing relationship part is one that a lot of people have questions about for sure man   yeah you're spot on so far I mean 506b I like to Remember by buddy so it's typically going to be a buddy right like yeah you have to have so the rule isn't that you have to have a pre-existing substantive relationship the rule is you're not allowed to solicit or advertise that's the rule and the way that you show that is by having a pre-existing substantive relationship with those investors so that that's a little bit of a Nuance there the rule is really you can't or advertised you can't go on Facebook and talk about it you   can't take out Google ads and and put it out there you can't even talk about it really to strangers and invite them into your deals you have to have that pre-existing substantive relationship because otherwise think about it well how would they know about your deal if you didn't right like that's that's kind of the the mindset there so yeah be but the the advantage there of course is that you're allowed to bring in 35 non-accredited investors so that's why people go with the 506b route number one   you can bring in a limited number of non-accredited investors uh number two there's there's less requirements for you as the uh fund manager or the syndicator the capital raiser on proving if they're accredited or not because they just self-certify so those are really the two big reasons you would choose a 506b versus a 506c which you can remember that by community so it's a bigger pool of people all right it's 506c for Community those folks when you have that exemption then you can go out there to your community you can solicit   you can advertise you can put it on Facebook you can put it out there in your m mind you go speak on stage and say hey guys come invest in my deal you can do whatever you want really it gives you the freedom to operate and not feel like oh am I doing something wrong but obviously the big thing there is accredited investors only so if you choose that 6C exemption you're only allowed to bring in accredited investors and they're all you're also going to have to take reasonable steps to verify that and that's typically through uh a   third party vendor or through that Investor's attorney or uh CPA that's going to write them a letter that says that they're qualified yeah which typically and you and not typically but like this is why you see even older more established funds go with a B because it's easier to just bring them in so they don't have to do all that stuff yeah what you see is they'll do a 506b but they won't allow uh non accredited investors in so it'll be 506b but only allow accredited investors so that they don't have to they don't they can   self-certify yeah which is makes it just a whole lot easier of paperwork standpoint so then uh that's which is really really interesting so for for me and I'm actually I'm going to just dive in a little bit deeper because there's so much gray here and like you can it's fine if you don't bring any like Clarity to the situation but there's so much gray here because I hear people that are like all right now when you meet that person add it to your calendar that you met that person and then you could talk   to them three weeks later and then like then you could pitch your fun to them and then like then now you're showing the SEC that it's a a pre-existing relationship and then it's like well where the heck is the line if there isn't even a line and then it's like then then what do they what is the expect me to do you know like if somebody introduces me to somebody how the heck do I make sure that I'm compliant in that in that relationship that we have if I know that they even come into the relationship interested in   what I'm doing I want to take a quick second to talk to you guys about something that could completely change the game for you if you're serious about launching and scaling an investment fund if you've ever wanted to start a real estate fund private Equity Fund or syndication but didn't know where to start this is for you fund Founders is giving you free access to foundations 101 a step-by-step course designed to help you to structure your fund the right way so you stay SEC compliant raise Capital like a pro even if you   don't have a network yet scale your fund without constantly chasing investors and avoid costly legal mistakes that can shut you down this is the exact road map successful fund managers use to launch manage and raise capital for their funds without wasting time or money and the best part it's completely free go to funds onf fire.com back/ Founders or click the links in the notes to get instant access to the fund Foundation 101 course don't miss this if you're serious about raising capital and growing your fund this is where you   start again that's funds onf fire.com Founders or click the link in the notes now let's get back to the show yeah uh pre-existing uh actually just means pre-existing the offering so pre-existing your syndication pre-existing your fund so that makes it a little bit difficult when you've got let's say an evergreen fund right it's like well you got that offering open forever right so you can't even bring anybody in after you've opened it um that you don't already know but there is a there is a kind of a loophole I'll   call it it's not really a loophole it's it's actually a regulation but you can actually convert um a 506b to a 506c now you didn't used to be able to do that but I think that pass um maybe like two or three years ago where you can convert the 506b to the 506c now you can't go back after that but once you make that conversion you know get all your 506b investors in if you want to fill that 35 non accredited pool and then convert it to a see you can do that and then you can go out you can solc it you can   advertise you can talk about it you can bring in strangers yeah now that's really interesting too well and I do know that I think you just have to close subscription for like 24 hours right or something like that and then you can open back up you really just have yeah there's not really a Time requirement you'll hear something you you'll hear where there's like a cooling off period and they'll say 30 days 60 days but it really just comes down to closing that first offering because it's separate   that 506 B exemption offering and then opening that new C offering and just to be safe because again we're dealing with Securities it's always gray maybe give it that 30 days to cool off and then open up that 506c and then you're good to go and you have to refile like a form D and everything like that you do okay you do okay cool I wonder if you're your blue skies you can use the same documents but You' need a new form D yeah okay cool all right very interesting so that's cool to know too so I use a platform and I think we've   talked about it briefly called aester and I'm a big fan because it's a customizable fund they actually don't I think because of the nature of the customizable fund they actually said that I can't close down my be and open back up as a c just by nature of that type of fund and I thought that was really interesting and I know you and I have talked about potentially chopping up like what the heck is the I I think I sent you the stuff for it I can't remember but uh yeah I think so yeah talking about that customizable fund   because it sounds like um you know there's different fund models there's um there are the reg d506 B and C's there's reg CF reg A's and then you also run into like syndications and then you have fun of funds right and so it sounds like and for you you've kind of done all of them I think oh yeah but right now you're really focused on one major one right is that what you like so the fund that you currently operate and you're running uh I'd love to hear a little bit more about that yeah for sure so just to   comment on the the aester fund you know it's it's a kind of a new product right the customizable fund it's pretty new it hasn't really been tested on the legal side quite yet it's pretty complicated right like complicated from well what it spits out is simple right they say Hey you create this Evergreen fund and then you get you know each investor only gets 1 K1 even though they might be invested across a bunch of deals things like that which is great um but you lose that flexibility so I don't know the the   intricacies of it but you know you can imagine you've got this this customizable fund that's invested in let's say 10 different other deals or whatever and some of them it's acting as a fun of fund some of them it's acting as u a lead sponsor or all these different things so trying to convert that to a 506b from a or 506b to a 506c I can see where you can run into some complications there it might not be possible yeah and I think so because the structure sorry the structure of it they tell me what makes it customizable is   the fact that like our investors can log in and I don't actually like I have an overarching PPM they log in and they choose the their investment that they want to I'm not telling them the investment that they have to like invest into they read the deal disclosures and decide decide that that's what they want where they want to allocate their money to which allows for for the customizability of this type of model so I think like that's where converting it to a c would be yeah what you're saying for sure y that's that's kind of the   defining I guess piece of that customizable fund is that investor actually gets to pick and choose within your fund that you created where they invest um and that actually I can see where that why they do that I mean it's a it's a great concept but also that keeps you from actually making any decisions as the fund manager so that keeps you out of some certain regulations I'm like hey this is what we offer yep you can look at the deal disclosures and decide on where you want but like they could and this is like one   of the things that they like is I can say oh you could you could essentially diversify your portfolio within one fund because you could choose this one this one this one this one but you choose how much you want to go into there so that's that is a very interesting model and so that's really cool um or like yeah the investor chooses it yep the investor chooses it and yeah and and I'll you know that contrast to what you're alluding to which is an SPV fund of fund so that's what we do over at tribe vest   in full disclosure I'm Chief legal officer and a and a shareholder of tribe vest um so I'm a little bit biased and aester is you know we don't like to call him a competitor honestly they do fund of funds and we do fund of funds is like the overarching product but it's completely different you know one situation which why I brought it up it's the only reason why I brought it up because I'm excited to dive into tribe vest and what you guys offer um because this is not a pitch for tribe vest and like I didn't even know about I did know   I've heard of trivest but didn't even know you were a part of it before this podcast but I love hearing what you're a part of and that's why I want to dive into that a little bit because I think it's cool yeah and I like it it it might be a good to kind of lay it out right you've got these customizable fun of funds out there avor is really the only one offering them there's a couple other uh groups out there that are going to be offering them soon you can actually go to a Securities attorney and they can   put it together for you as well um and yeah and then you've got the SPV fun of fund again you can go through triest or you can SPV just for clarity special right special purpose vehicle or single purpose vehicle kind of either either one really applies then you've got your typical discretionary fund which you would go directly to a Securities attorney and that's where you're actually making some decisions you're saying okay I'm going to raise 10 million bucks and I'm going to invest in Deal one two three four five six seven   eight um and you're kind of making those decisions and there's a lot of rules and regulations that you've got to abide by to be able to do that without a license but anyways back to the SPV the single-purpose vehicle instead of a customizable fund where you know the investor is making the decision and you as the fund manager in you know you make all these different things Avail all these different Investments available the SPV is designed as a single purpose vehicle to invest in one single deal so   if there's a Target deal let's say a 200 unit multif family property in San Antonio um we're going to spin up an SPV for you to invest as a passive investor into that Target deal and that's it it's super simple it's super contained it's not complicated it it just keeps everything compartmentalized both from an asset protection standpoint and from visibility right you're going to know as the fund manager and as the investor exactly what you're investing in what you're how you're going to get paid what   your projective returns are and it doesn't really get mudded by other Investments and this is what I CU I've talked to other SEC attorneys and they've talked about it's funny they've talked about how rare what I've done so I've like maxed out my 506b on a my first fund being a blind fund and they were like that's super rare because you're saying hey just trust me but what you guys are saying what you're doing is saying hey this is the specific and that makes it a lot easier to raise Capital because like you said ton more   transparency they know what they're investing into and so for people starting out that's probably the route that they want to start with is something where they can bring transparency and then the investors that they're coming in know exactly what they're investing into that's right de yeah what you did Devon was incredible like it's really difficult to do most people don't start there they can't start there they don't have the ability to um to be able to build that up that level of trust and track record prior to   you launching the fund that's why you're able to do it but most people can't do it most people have to get their first few in the door by showing the investors hey this is the exact deal that you're going to invest in and you're getting you're going to be a part of and they can do their own due diligence and underwriting and those sorts of things and they're say oh yes I believe in that property or that deal and I also believe in you as the the fund manager or the syndicator and it's easier to raise   Capital that way as opposed to a blind pool fund where it's like hey just give me your money and we're going to invest in something that looks like this and yeah exactly exactly so I actually I want to dive into more into tribe vests cuz like so where does the benefit come in because like somebody can just go and get with an SEC attorney and create their own SPV and and kind of go that route but where's the benefit of somebody coming in and working with tribe vest like why I mean honestly like I please I like tell me like why have   you invested into it why do you believe in it so much and then yeah tell me a little bit more about it man yeah because it it just makes everything super simple and super contained and we handle everything so if you go to an SEC attorney like myself I'm going to come in and I'm going to I'm going to draft your offering documents I'm going to file your exemptions do your blue sky filings and that's it and I I'm going to wipe my hands of it and I'll say you know good luck you know more than that I'll help you out of yeah exactly I'm   going to charge you a lot of money I'm going to charge you at least 25k right Tri vest includes everything that you could possibly imagine so all these different parts that you would have to put together as a capital aggregator TR vest handles so that includes not just the offering documents the legal stuff the filing of the exemptions and the blue sky filings but we're going to file for your entity we're going to get your EIN we're going to be your registered agent we are going to uh onboard your   investors so we're going to act like an like an investor relations person on your team so all you do is send us your list of investors and we start reaching out we send them the docs we walk them through how to sign and get them through the signing ceremony we hound them or we call it hurting the cats to get them to actually fund the deal cuz sometimes people get cold feet so bug the hell out of them yep bug the hell out of them until they make that wire we do all that we do the uh the accounting in your k1s   we configure your cap table very cool we do your distributions we open your business banking account we do uh everything on the back end uh we've got the investor dashboard or investor portal that you can use which alone is you know you're going to pay $500 a month at minimum for that by itself so it it's incredible and we do it at an incredible price and I mean we're not we're very transparent about that it's $5,000 upfront and then $2,000 a year annually and that comes with docs and everything that comes with docks and   everything there's just you can't be beat I mean it literally can't be beat and the other thing is the speed so as soon as you sign the greenl docks which is basically just like hey you agree to the services that we're going to provide we will have you raising capital in five business days no way man that's really cool that's fantastic if you come to to me if you come to me as a security attorney I've got that hat on you know we're not doing in 5 days I'll tell you that now how much education do you help   with because I tell people all the time like here's the questions you should have beforehand because your SEC like your attorney will be the most expensive education you have ever paid for if you don't have that information beforehand so like what what type of because they'll charge you like if you don't know if you want a 506b or 506 C you don't know if you if you want your waterfall this way if you want this and you're just asking questions they're going to charge you by the hour to ask those questions and so for you like how   much help do you guys help for people who are like I've never started a fund I'm really looking forward to starting this but I don't know where to go what does that look like for you guys yeah I mean for tribe vest we're putting together some modules actually right now we're going to roll them out literally before the end of the year which will be fantastic because we're going to share that with with the world you're going to be able to self-educate on what is a fun to fund how does that look like in the   fundraising ecosystem like you know what is a preferred return what is the profits what kind of fees can you charge all kind of the nuts and bolts that you need to know we're going to have that out there so soon enough that'll be available to the public and that'll be a huge value ad and huge help for us as well because we don't have to educate one-on-one anymore as a Securities attorney I I will advise on people I mean I'm I'm happy I'm I'm more of a mentor and a coach when it comes to that sort of stuff and I'll I'll be like look   attorney hat off right now I'm going to tell you this and here's kind of your gray area and that sort of thing so you know I I I think I get into those sorts of things a little bit more than most attorneys will um but if you go to like a a large Law Firm or even a regional Law Firm they're they're going to charge you per hour and that's going to be anywhere between you know $400 to $1,500 an hour yeah there's no doubt there's there's no doubt so and this is really interesting because one of the questions   that I had just going into this um and not even knowing about uh the not even knowing about tribe vest and and all of that is what have you seen as far as like trends that you're seeing in the industry right now because Trends seem to be changing one just even I I'm a disruptor you're it seems like you're a disruptor of Industries and we're trying to disrupt this huge investment fund industry um but it seems like there's being like there's different type of offerings there different structures there's different   things that people are doing what are some of the trends that you're seeing that people are kind of pressing against or starting in as far as funds as a whole you seeing that being the case of being become more common yeah I mean so like biggest picture right is trying to get these types of alternative Investments to the masses because most wealthy people even rich people whatever you want to call them that have some Expendable income that want to invest the only thing they know are 401ks stock market mutual funds   and those sorts of things and they we just need to get that out there and I think you're seeing a trend towards that I think bringing in more people that want to raise capital and start a capital raising business is how you do it right because they've already got their built-in networks and then those networks know other people and and it kind of spiderwebs out from there so that's that's kind of the biggest picture trend is just trying to see well we're seeing you know alternative investments just become more available   to the masses second you're seeing the industry go away from the CP model which I like to say the cgp model is dead and you're seeing people turn to the fun of funds route yeah because the cgp model has just been abused if you do it the right way if you're actually an active partner and you're actually participating in the meetings and and decid on Asset Management typee decisions then all good that's how it's supposed to be but when you're just raising capital and not doing anything else that's when the CP model gets   abused and it's not just oh well you shouldn't do that it's illegal it's plain and simple illegal so that was like the conversation I'm telling you when um I was having the conversation with that guy at my at my Mastermind and he was like we're doing this and I go like stop and he's like haa and I go no no it's illegal and he's like oh haha and I'm like no no like prison illegal and they I feel like just people don't understand the severity because they feel like what's wrong with it it's not that bad and it's like no no it's   illegal yeah and you know that this is just what happens right like you just kind of everybody just pushes boundaries pushes boundaries and you know fortunately or unfortunately however you want to look at it the industry's been fantastic for a long time right the real estate industry's went up since the the crash in 2009 2008 all the way until really covid and that was just a blip and then it took off again and then B basically up until last year 2023 is when you started seeing it kind of take   a nose dive a little bit because of interest rates and not because of the actual state of the market but the interest rates but either way it started going down you started seeing some people get in trouble but all along the way on that rise up all the investors have been happy he's suing anybody because they've been getting their returns and they've been everybody's been crushing it and even if you're a terrible operator you've still been crushing it because the market saved you and nobody's getting sued so it's all   good until it's not and then you've seen in yeah and then you see in 2023 you see you know potential foreclosures and workouts and you know Capital calls things like that investors aren't happy and we're in America and people are like yo how can I get my money back well you try to sue somebody and that's when you start seeing some of these things where the cgp model was abused or people weren't raising Capital the right way or they didn't f exemptions all those sorts of legal things that nobody really   worried about because everything was great start coming up and you're you're seeing that now so you're seeing that shift away from the CP model to the fund of funds model because the fund of funds model is compliant obviously if you do it the right way but it's more compliant and it's always been the answer but at the end of the day it's expensive it's more complicated you've got more attorneys you've got a whole separate offering all these different things that you have to take into account and people   were like I'm not doing that but now we're kind of forced into having to do that and that's where you know tribe vest and aester and some other folks are coming in and having coming up with solutions for that yeah that's really cool um because one one more thing I'm really curious on that you've seen because I feel like there is a fairly irreg irregulate asset you know coming into a very regulated um like structure right so one the things I'm talking about is like the rise of crypto in these crypto funds and these blockchains   based funds have you seen that start to affect like the legal landscape of funds and the formation that people have of that and the way that people are thinking through that and even how the SEC is starting to figure that out and uh and stuff like that have you seen like an emergence of more of those blockchainbased funds I have yeah and not just like strictly you know blockchain and and crypto but also just spin-offs of that right like you saw tokenized real estate was a big thing for a little while it's kind of turned   down a little bit but that was huge that was like I was crazy that you could be like I'm tokenizing my my bathroom and when I sell it you get like that much of the footage and the appreciation it's like what that's crazy yeah so it's kind of cooled out a little bit you know I don't I honestly don't follow that that closely just because I know that it just changes so fast and especially now that we've got the new Administration in here you're probably going to see a lot more loosening of that which would be good   for us but yeah I mean you know you're going to see that right like CU we are just on the the precipice of just crazy technological advancements from tokenized Real Estate to you know crypto to AI like all this stuff is going to like this landscape 5 years from now is is going to be unrecognizable yeah that's it's it really will just because of the way that contract law is going to go from the from the from um from I guess blockchain based like because like you'll see that where the blockchain will take a lot of   those uh a lot of that aspect and change it and flip it on its head so it's going to be super interesting to see how that goes man I want to respect honor your time I appreciate you being on I guess one thing I guess one more question that I have before we kind of go into the exit if there's somebody that's thinking about starting a fund because what you were saying earlier really there's only two main people if I'm fully transparent I want to be able to be uh the voice of funds for minorities and women in this   country because like all those other they all the white dudes they could have all the other white dudes that's fine with me but there's a lot there's a there's a huge disparity I heard uh don peees once say and this has changed my my my thought my process like my mindset ever since he says in the history of America there has been $94 trillion to come in through private equity and real estate in the history of American and history of America 8.3% of that had no sorry 1.7% of that have gone to minorities and women that means 98.3% of   that has gone to white men and so there's this massive disparity between access to education like you're saying access to Capital Access to I think there there's this quote that says the world equally distributes talent but doesn't equally distribute opportunity and so there's this huge disparity of opportunity of people that look like me and look like you and look like women around this country that I would love to make sure we're the voice for and so for people who don't have a lot of that education one what's a big piece of   advice that you would give them and when they're starting to think about starting a fund because I think like if I'm full of transparency most of the people I talked to and I told you I saved from prison there were black dudes they're just trying to do the right thing but don't have the education to do the right thing and so for for that like what what's a big piece of advice you would give people that are thinking like I think I want to start a fund um what should I look out for how expensive does   it matter because we've talked about a better solution for how expensive it can be but what's the thing that they should be looking out for yeah I mean you know right off the bat like be confident and don't be intimidated because I think some people yep in those groups that you described might feel a little discouraged because of that because you walk into a room that is maybe all fund managers or all capital risers or you know those types of people and you're like who I don't look like everybody   else so maybe I don't belong here or maybe your confidence goes from here to to hear and you're like and then and then you come off that way right like you've got to you got to step into that room with confidence and a lot of a lot of that comes down to self-education right like it comes from education and it's out there now I mean we mentioned that there's only a few really good sources but you can still piece it together I mean you can find anything on YouTube University just to at least get the you know being able to talk to talk   and walk the walk and and feel confident doing that so just get educated to start get that Baseline and then get out there and just be be confident like I said don't be intimidated don't feel like you don't belong because we got to get folks out there that are that are doing it from from those groups yep that's right man well I appreciate it Seth where can people find you where can people hire you where can people join what you're doing um because I think that they should I'm a big believer in you and   what you're doing and I'm excited for for all those things appreciate it man I usually update all my Links at Seth Paul bradley.com so you can find everything there I'm all over social media so all my handles are Seth Bradley Esq cool man I appreciate you thankful for your time thankful for your friendship I really look forward to uh to Growing growing together man it's fun to see other people that like we're about the same age I don't know you look like you're in your 20s but you're you're not I know   that but like uh but like like for us to just rise together on this man and so I'm thankful for this journey that we're on together and I appreciate you being here today love it brother appreciate you yes sir talk to you later man wow I hope you enjoyed that I have a quick favor if you've been enjoying the show there's one simple way you can support us and it's by hitting that follow button or that subscribe button on the app app you're listening to I want to level this podcast up in every single   way possible bringing you more value incredible content and guests and new strategies Following the show and leaving a quick review goes a really long way in helping us to grow and continue to deliver top tier content it's the only free thing I'll ever ask you to do and it makes a bigger impact than I can possibly put into words so thank you for being a part of this journey and I'll definitely catch you on the next episode to great success and greater impact peace Links from the Show and Guest Info and Links: https://www.youtube.com/watch?v=P-w_w6WAUVw https://www.instagram.com/p/DHbcSjGT7Jn/ https://tinyurl.com/FFfoundations-YT https://pfcapital.us/ Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en Devin Robinson's Links: https://www.instagram.com/devin.robinson1/ https://www.linkedin.com/in/devin-robinson-997ba040/ https://www.facebook.com/drob737/ https://x.com/devinrobinson37 https://www.threads.com/@devin.robinson1 https://www.tiktok.com/@devin.robinson1  

Title: The Truth About Capital Raising That Your Attorney Won't Tell You with Devin Robinson Summary: In this episode of the “Funds on Fire” podcast, host Devin Robinson interviews Seth Bradley, a seasoned SEC attorney and a friend. Both share insights into the world of capital rasing, investment funds, and legal compliance. Robinson highlights the rapid learning curve and opportunities within the fund management landscape. He discusses his background in raising millions for real estate ventures and transitions into the value of complying with SEC regulations when raising capital. The conversation sheds light on common misconceptions surrounding securities law, stressing the importance of education and understanding regulations related to passive investments. Bradley offers practical advice on starting investment funds, the advantages of teaming up with experienced SEC attorneys, and the evolving trends in alternative investments, particularly in light of recent market changes. He emphasizes the necessity for diversity in investment management and the need for entrepreneurs from all backgrounds to have access to the financial education that empowers them to raise capital and scale their business ventures effectively. Links to watch and subscribe: https://www.youtube.com/watch?v=P-w_w6WAUVw Bullet Point Highlights: Capital Raising Insights: Devin Robinson shares his journey in successfully raising millions for investment projects. Legal Compliance Importance: Seth Bradley emphasizes the significance of understanding SEC regulations to avoid legal troubles in fund management. Fund Management Strategies: Discussion on navigating funds, from 506(b) to 506© offerings, providing clarity on compliance requirements. Education Gaps: The necessity for education in the finance and investment space is underscored, highlighting the lack of resources for aspiring fund managers. Diversity in Investment: Recognition of the disparity in investment opportunities for minorities and the importance of fostering diversity in fund management. Trends in Capital Raising: A shift towards fund-of-funds structures and other innovative investment vehicles as alternatives to traditional capital raising models. Confidence Building: Advice encouraging newcomers in investment to be confident and educated, asserting their place in the industry. Transcript: raised tens of millions of dollars myself as well as um you know we purchased just in 2022 Alone um I was a GP on over $120 Million worth of commercial assets we don't want to say anything that might get us into trouble you know I'm I'm an entrepreneur first so I'm out there to to educate it started going down you started seeing some people get in trouble but all along the way on that rise up he's suing anybody because they've been getting their returns and they've been everybody's been crushing it and even if   you're a terrible operator you've still been crushing it because the market saved you and nobody's getting sued so it's all good until it's not welcome to funds on fire the podcast that ignites The Passion of investment funds in capital raising here we turn the complexities of fund management into clear actionable steps that drive results I've invested into diverse real estate across the United States and managed thriving funds and I'm committed to transforming lives through the vehicle of investment funds and helping   others to do the same join me as we document the Journey of scaling businesses raising capital and impacting tens of thousands of people around the world my name is Devin Robinson and welcome to funds on fire on this episode of the podcast I actually interview Seth Bradley who is an SEC attorney and has become a really good friend of mine so him and I met a couple years back at raay Fest and which is we're part of a mastermind for Capital raising and fun launching and then both of us as we've become friends   as we did this podcast interview gosh a couple of months ago and then now I've launched the podcast and even since then this is pretty cool him and I have actually started a partnership on um on helping people to launch uh manage scale and raise capital for investment funds and it's something really cool so you'll hear more about that later but it's really cool that it started uh with this podcast we both are very like-minded people we both have very similar goals and desires especially when it comes to   Capital raising and the access to information with when it comes to that and for other people to be able to learn how to um honestly be able to launch and scale an investment fund and there are so many people that have the ability to do it have the um the skills and the knowledge to do it but don't have the opportunity to do it or honestly just think it's too hard to do and so I'm so excited because partnering with somebody like Seth is incredible he's a guy who has helped hundreds of people to launch   and manage their funds or would just really launch their funds he has raised hundreds of millions of dollars and invested into hundreds and hundreds of millions of dollars worth of real estate himself and so to be able to partner with him on something like this is really really awesome so I'm excited for that as we talked through his journey talk through all the things as we go through his progression from just being a real estate attorney to then an SEC attorney that goes and helps people to launch and manage funds his involvement   in that some of the things he's doing and honestly it's going to be a really good conversation for you all to hear how to stay compliant how to make sure that you guys are raising Capital appropriately how to make sure that you guys aren't going to get in trouble with the SEC because of how you guys are raising Capital so excited for this really pumped for this episode just thought I'd give you a little preface before we dive in you are going to want to listen to this cuz he is awesome and I'm excited so thank you so much enjoy   the episode all right what's up and welcome to this episode of funds on fire I I love this uh because today we have a friend of mine Seth Seth we go back I don't know like at this point I feel like it's like two years now or a year and a half what we met at Ray's Fest a while ago and I'll tell you I was super impressed by this dude because we met we met at a bar we were like at this event we had guess us that's right that's exactly right we were at this event for Ray Fest and like I'd gone downstairs he was   chilling I was chilling we started talking and I was like I like this dude because one he's not like the typical like white dude that's here he's all tatted up he's really cool and then I realized he's by far the smartest in the room and I was like yo Seth is the man so Seth I would love for people to tell or for you to tell people like who you are and what you do I've enjoyed keeping up with you over the years content you're putting out is incredible and so if you haven't give this man a follow   ESP if you want to stay compliant with funds and the legal aspect of it cuz he's doing some really awesome stuff and I love how just like fit you and your Wi-Fi that's pretty cool too so I respect that too so Seth like tell people who you are where you're from what do you do cuz I think it's going to be important for people to know you all right man Deon I appreciate that intro brother yeah it was it was great meeting you back in the day now we've kind of followed each other on social media and   kept in contact and loved it love it man love it but I'm I'm a Securities attorney so anytime you're raising capital from passive investors you can get me involved I've got I've got the pedigree I worked in big law for seven years before starting my own Boutique Law Firm I think what people like the most about working with me is that I actually come from the business side as well so I'm a syndicator and a fund manager myself so um you know I've raised tens of millions of dollars myself as well as um you know we   purchased just in 2022 Alone um I was a GP on over $120 Million worth of commercial assets so you know I come from not just the legal side but also the business side and I look at every single deal like you know whether I'm you know actually an equity holder or I am just the vendor as the Securities attorney I look at the deal like hey how are we going to get this thing done right a lot of attorneys kind of get in the way um I don't want to get in the way I I will tell you what the risks are what your liabilities are what you might   be opening yourself up to what the gray areas are but at the end of the day you're the business person and you're the entrepreneur so you make the decisions based on the information that I give you so I'm I'm there to help you you get the deal done that's cool man cuz like I know man there's a lot of misconceptions about funds and so one I can tell you I really appreciate I really appreciate you because I have had some not so great SEC attorneys that I was not a big fan of then I've had some good ones and so I'm thankful for it and   so when it comes to that uh we're going to we're going to talk about compliance because that's super important but we'll also talk about uh because I I I guess so I'm in another Mastermind I think I was going to bring this up a little bit later but I'll bring it up now and I want to talk about the importance of finding a good attorney because like I I'm in a different Mastermind and it's more of an operators based Mastermind like how to a lot of single family things and I I talk to people and I'm like and because I'm   going to set the groundwork for this podcast but I talk to people and they're like oh yeah I've got some friends they've let me borrow some of their money and I'm just using that money and I'm like oh hold on uh what do you mean and so I talked to like I mean I can't tell you the last po I was there two months ago three people told me this said three people and so they were like they were like yeah so I have an LLC and they wire the money into my LLC account it's like three or four friends they   wire this money into my LLC account and then I use it and I give them a return and I'm like you need to call an attorney right now because you are literally violating Securities Law like you you you are and they're like wait wait wait okay but but what if what if they they say we we sign up you know a promisory note they put it in here and I'm like security and then they're like okay but what if that the the the people hold it an escrow our attorney is holding an escrow I'm like security and so like just to even like set the   groundwork what is like what what is a security and and and what do you see most often when people come to you and they're looking for an attorney and they're like hey I'm doing this is this legal and you're like no that's not legal but what do you see like what is the security and what is the misconception or the mistake that you see a lot of people make when they come to you yeah I mean you just said it so the number one problem or the the biggest problem I see every single day is just the lack of knowledge like   people just don't know and there's there's maybe a fine line there between not knowing and not caring enough to know right exactly you're like I know I'm doing something here and I don't care to look into it a little bit further to figure it out but that's but that's really what it comes down to is just not having the knowledge because you think like you know I'm just going to you know me and this guy are going to partner he's going to give me all this money and they're not going to do anything and they're going to they're   going to expect a return on their investment and all that kind of stuff and it's all good but it's not you're getting yourself into into issues you know to define a security in a in layman's terms I like to just say look if you've got a passive investor involved in your deal and they're expecting a return on their money and on the actions that you're taking as the active participant then that's a security and that that's it like if if you have a passive investor meaning they're not you know making decisions   they're not managing they're not helping you out on the active side that's a passive investor and you're probably dealing with the security right and this is what I think separates like syndication from the fund right so like if you have a syndication and then you have somebody who is brings the capital typically they're making some of the decisions which makes them a little bit more active so then it's not in that sense of violating that Securities laws if it's just either like one person or even a couple a group that's actually   making decisions on that and I guess that's not the main differentiator between a syndication and and a fund but I think that's where people get confused is the passive part of things that's right that's right it's the passive part of it right like you have people that come in whether it's a syndication or a fund if if they have um some sort of managerial rights or meaningful voting rights because you'll see if you if you invest passively in a deal and you read through the PPM and the operating   agreement you'll see that you really don't have any rights to make any sort of decisions there might be some convoluted way that you might be able to get the manager out if a b c d and f happens but probably not so you'll see that you're really passive right and if you're passive then that's a security that you're dealing with you're investing into security cool that's cool and I appreciate us understanding that groundwork because I want people to listen to this I want people in my Mastermind to listen to this I want   people to just hear and understand that more often times like more than you think there are people clearly violating SEC like security law and so I just want to make sure that people are compliant and this is like you mentioned it earlier and I think that's really important is just the lack of Education side of things and you and I talk about that we talked about this before this of like really there's only like two main Educators in this space that are doing this and unless you know those two you   run the risk of not really being honestly educated enough to run a fund unless you have the self-education side of these and so I love like what you're doing and the content you're putting out especially from a Securities attorney aspect to be able to help that what what have you seen has been like the main sources of Education because even just like outside of what I do outside of what you do uh are there other sources of Education since you've been in this space longer than me that people can go to to gain more   information about what it looks like to raise a fund or uh or even start looking in that direction yeah dude it's tough out there right like you just you just said it and I I'll just name him I mean Hunter Thompson has some really good content that he puts out love Hunter super intelligent guy great stuff it's about raising Capital 4 real estate specifically which is great for the for your audience um and then Bridger Pennington of course um his is a little bit not necessarily real estate related   more in the private Equity space but also real estate sometimes and those are really the only two guys that are putting out content um typically before them you're really getting your education from your securities attorney that you engage with you know that can you know they're going to give you legal advice they're not going to give you kind of like you know they they'll review your marketing materials and things like that to tell you hey this is compliant this is not maybe this is what you should do this is what you shouldn't   do but there's not really anything comprehensive out there where you put the whole package together when you're really trying to start a capital raising business other than those two guys right now so you know there's a lot of room in that space for people to to step in and do it and and also you know Securities attorneys if you look I mean there's only a few of us putting out any kind of content cuz you know as an attorney most most of us are pretty conservative we don't want to put ourselves out there we   don't want to say anything that might get us into trouble you know I'm I'm an entrepreneur first so I'm out there to to educate and that's what I was going to ask so for you man just like a little bit about your journey because like it's not every day that you meet a a Securities attorney now granted we are at a fund event so then like of course you're going to run into a Securities attorney but like honestly you you I feel like and this is kind of cool I feel like me and you don't fit the molds   of our role like for like we're tatted like you know like you know I'm saying we're tatted we're a little bit more laid-back I got I think I posted this the other day I graduated college with a 2.3 GPA like I I just am not very qualified of what you would put the normal qual qualifications of a fund manager would be but for you like for you how did you get started and like what Drew you to Securities Law cuz it's a very specific Niche to be in for sure yeah and I really got started in real estate law so I was always drawn to real   estate I just knew it was a great investment I've just like intrinsically loved real estate I don't know what it was like even when I was in undergrad I was like man it would be so great to own these tow houses that I'm living in like things like that I've just always been attracted to it and investing in it so I started investing in it myself I started out doing real estate transactional law oh cool from that from that perspective and then I realized that you know raising Capital was a little bit more   sophisticated I I like that aspect better and I started gravitating towards that and got into Securities Law and and again at the same time as I was doing that I was also starting to Syndicate my own deal so um pretty interesting that I got kind of the legal side got the business side going at the same time so it gave me really good perspective that's cool so you talked about your journey a little bit I love like diving into that Journey because you you said that you you were in on some of your own   deals so you started as real estate attorney chop that like started doing that were you like a closing attorney yeah yeah okay so like a closing attorney uh and then started did you get to a point where you're like yo I see all this money that people are making I kind of want to do that is that how it like switched into you becoming an active investor into real estate uh yeah somewhat man I mean I took kind of the traditional route of real estate investing I read Rich Dad Poor Dad I started listening to Big Pockets the   purple Bible you know it man what it is um yeah did all that and house hacked into a duplex I mean that was my first property started fixing and flipping a few few property still own some single family those sorts of things um and then you're San Diego right I'm in San Diego yeah but I'm originally from West Virginia West Virginia West by God Virginia that's right all right I mean like I feel like if you I feel like if you're from there you would say something like that that does make sense that does make that's the say that's   what we say West by God Virginia no I don't know anything about V West Virginia but now but now I do so now do you own some of your properties in in very two very different markets West Virginia or San Diego is that like where you own them or are you in other markets they're all over the place so like we invested I lived in Charlotte for a little bit like you know so own a couple properties there own a property in West Virginia that duplex that I was telling you about cuz I moved there for a job really you know California is   tough like to make anything cash flow there's some Adu opportunities right now for that but really just own the house that I live in then I have a condo that I rent out up in Orange County and that's about it but the other ones are all kind of all over the place like we invested in Cleveland for a little bit as well oh yeah some multi family stuff in Cleveland that that was kind of in the single family phase but as far as like the multif family the retail a lot of that was like in the midwest um in   the in the um in the sun sun Bel area so all over the place and we did like industrial we did retail we did multif family um all all sorts of stuff man on the commercial side and it's good to know that background for you like not that background but like you had the ability to understand and how to structure some of those deals um and so I'd love to I'd love to talk about the structure of funds a little bit because this is sure I'm going to as the question that I think like everybody wants to ask an SEC attorney about the   difference between a 506b and a 506c and then what constitutes like having that pre-existing relationship right because like if you have a 506b or a 506c there's certain stipulations but those are the two most common right like 90% of funds are 506 BS or 506 C's and so and if I'm wrong just just let me know but I believe that's like the statistic and and with those what constitutes the differences and then the pre-existing relationship part is one that a lot of people have questions about for sure man   yeah you're spot on so far I mean 506b I like to Remember by buddy so it's typically going to be a buddy right like yeah you have to have so the rule isn't that you have to have a pre-existing substantive relationship the rule is you're not allowed to solicit or advertise that's the rule and the way that you show that is by having a pre-existing substantive relationship with those investors so that that's a little bit of a Nuance there the rule is really you can't or advertised you can't go on Facebook and talk about it you   can't take out Google ads and and put it out there you can't even talk about it really to strangers and invite them into your deals you have to have that pre-existing substantive relationship because otherwise think about it well how would they know about your deal if you didn't right like that's that's kind of the the mindset there so yeah be but the the advantage there of course is that you're allowed to bring in 35 non-accredited investors so that's why people go with the 506b route number one   you can bring in a limited number of non-accredited investors uh number two there's there's less requirements for you as the uh fund manager or the syndicator the capital raiser on proving if they're accredited or not because they just self-certify so those are really the two big reasons you would choose a 506b versus a 506c which you can remember that by community so it's a bigger pool of people all right it's 506c for Community those folks when you have that exemption then you can go out there to your community you can solicit   you can advertise you can put it on Facebook you can put it out there in your m mind you go speak on stage and say hey guys come invest in my deal you can do whatever you want really it gives you the freedom to operate and not feel like oh am I doing something wrong but obviously the big thing there is accredited investors only so if you choose that 6C exemption you're only allowed to bring in accredited investors and they're all you're also going to have to take reasonable steps to verify that and that's typically through uh a   third party vendor or through that Investor's attorney or uh CPA that's going to write them a letter that says that they're qualified yeah which typically and you and not typically but like this is why you see even older more established funds go with a B because it's easier to just bring them in so they don't have to do all that stuff yeah what you see is they'll do a 506b but they won't allow uh non accredited investors in so it'll be 506b but only allow accredited investors so that they don't have to they don't they can   self-certify yeah which is makes it just a whole lot easier of paperwork standpoint so then uh that's which is really really interesting so for for me and I'm actually I'm going to just dive in a little bit deeper because there's so much gray here and like you can it's fine if you don't bring any like Clarity to the situation but there's so much gray here because I hear people that are like all right now when you meet that person add it to your calendar that you met that person and then you could talk   to them three weeks later and then like then you could pitch your fun to them and then like then now you're showing the SEC that it's a a pre-existing relationship and then it's like well where the heck is the line if there isn't even a line and then it's like then then what do they what is the expect me to do you know like if somebody introduces me to somebody how the heck do I make sure that I'm compliant in that in that relationship that we have if I know that they even come into the relationship interested in   what I'm doing I want to take a quick second to talk to you guys about something that could completely change the game for you if you're serious about launching and scaling an investment fund if you've ever wanted to start a real estate fund private Equity Fund or syndication but didn't know where to start this is for you fund Founders is giving you free access to foundations 101 a step-by-step course designed to help you to structure your fund the right way so you stay SEC compliant raise Capital like a pro even if you   don't have a network yet scale your fund without constantly chasing investors and avoid costly legal mistakes that can shut you down this is the exact road map successful fund managers use to launch manage and raise capital for their funds without wasting time or money and the best part it's completely free go to funds onf fire.com back/ Founders or click the links in the notes to get instant access to the fund Foundation 101 course don't miss this if you're serious about raising capital and growing your fund this is where you   start again that's funds onf fire.com Founders or click the link in the notes now let's get back to the show yeah uh pre-existing uh actually just means pre-existing the offering so pre-existing your syndication pre-existing your fund so that makes it a little bit difficult when you've got let's say an evergreen fund right it's like well you got that offering open forever right so you can't even bring anybody in after you've opened it um that you don't already know but there is a there is a kind of a loophole I'll   call it it's not really a loophole it's it's actually a regulation but you can actually convert um a 506b to a 506c now you didn't used to be able to do that but I think that pass um maybe like two or three years ago where you can convert the 506b to the 506c now you can't go back after that but once you make that conversion you know get all your 506b investors in if you want to fill that 35 non accredited pool and then convert it to a see you can do that and then you can go out you can solc it you can   advertise you can talk about it you can bring in strangers yeah now that's really interesting too well and I do know that I think you just have to close subscription for like 24 hours right or something like that and then you can open back up you really just have yeah there's not really a Time requirement you'll hear something you you'll hear where there's like a cooling off period and they'll say 30 days 60 days but it really just comes down to closing that first offering because it's separate   that 506 B exemption offering and then opening that new C offering and just to be safe because again we're dealing with Securities it's always gray maybe give it that 30 days to cool off and then open up that 506c and then you're good to go and you have to refile like a form D and everything like that you do okay you do okay cool I wonder if you're your blue skies you can use the same documents but You' need a new form D yeah okay cool all right very interesting so that's cool to know too so I use a platform and I think we've   talked about it briefly called aester and I'm a big fan because it's a customizable fund they actually don't I think because of the nature of the customizable fund they actually said that I can't close down my be and open back up as a c just by nature of that type of fund and I thought that was really interesting and I know you and I have talked about potentially chopping up like what the heck is the I I think I sent you the stuff for it I can't remember but uh yeah I think so yeah talking about that customizable fund   because it sounds like um you know there's different fund models there's um there are the reg d506 B and C's there's reg CF reg A's and then you also run into like syndications and then you have fun of funds right and so it sounds like and for you you've kind of done all of them I think oh yeah but right now you're really focused on one major one right is that what you like so the fund that you currently operate and you're running uh I'd love to hear a little bit more about that yeah for sure so just to   comment on the the aester fund you know it's it's a kind of a new product right the customizable fund it's pretty new it hasn't really been tested on the legal side quite yet it's pretty complicated right like complicated from well what it spits out is simple right they say Hey you create this Evergreen fund and then you get you know each investor only gets 1 K1 even though they might be invested across a bunch of deals things like that which is great um but you lose that flexibility so I don't know the the   intricacies of it but you know you can imagine you've got this this customizable fund that's invested in let's say 10 different other deals or whatever and some of them it's acting as a fun of fund some of them it's acting as u a lead sponsor or all these different things so trying to convert that to a 506b from a or 506b to a 506c I can see where you can run into some complications there it might not be possible yeah and I think so because the structure sorry the structure of it they tell me what makes it customizable is   the fact that like our investors can log in and I don't actually like I have an overarching PPM they log in and they choose the their investment that they want to I'm not telling them the investment that they have to like invest into they read the deal disclosures and decide decide that that's what they want where they want to allocate their money to which allows for for the customizability of this type of model so I think like that's where converting it to a c would be yeah what you're saying for sure y that's that's kind of the   defining I guess piece of that customizable fund is that investor actually gets to pick and choose within your fund that you created where they invest um and that actually I can see where that why they do that I mean it's a it's a great concept but also that keeps you from actually making any decisions as the fund manager so that keeps you out of some certain regulations I'm like hey this is what we offer yep you can look at the deal disclosures and decide on where you want but like they could and this is like one   of the things that they like is I can say oh you could you could essentially diversify your portfolio within one fund because you could choose this one this one this one this one but you choose how much you want to go into there so that's that is a very interesting model and so that's really cool um or like yeah the investor chooses it yep the investor chooses it and yeah and and I'll you know that contrast to what you're alluding to which is an SPV fund of fund so that's what we do over at tribe vest   in full disclosure I'm Chief legal officer and a and a shareholder of tribe vest um so I'm a little bit biased and aester is you know we don't like to call him a competitor honestly they do fund of funds and we do fund of funds is like the overarching product but it's completely different you know one situation which why I brought it up it's the only reason why I brought it up because I'm excited to dive into tribe vest and what you guys offer um because this is not a pitch for tribe vest and like I didn't even know about I did know   I've heard of trivest but didn't even know you were a part of it before this podcast but I love hearing what you're a part of and that's why I want to dive into that a little bit because I think it's cool yeah and I like it it it might be a good to kind of lay it out right you've got these customizable fun of funds out there avor is really the only one offering them there's a couple other uh groups out there that are going to be offering them soon you can actually go to a Securities attorney and they can   put it together for you as well um and yeah and then you've got the SPV fun of fund again you can go through triest or you can SPV just for clarity special right special purpose vehicle or single purpose vehicle kind of either either one really applies then you've got your typical discretionary fund which you would go directly to a Securities attorney and that's where you're actually making some decisions you're saying okay I'm going to raise 10 million bucks and I'm going to invest in Deal one two three four five six seven   eight um and you're kind of making those decisions and there's a lot of rules and regulations that you've got to abide by to be able to do that without a license but anyways back to the SPV the single-purpose vehicle instead of a customizable fund where you know the investor is making the decision and you as the fund manager in you know you make all these different things Avail all these different Investments available the SPV is designed as a single purpose vehicle to invest in one single deal so   if there's a Target deal let's say a 200 unit multif family property in San Antonio um we're going to spin up an SPV for you to invest as a passive investor into that Target deal and that's it it's super simple it's super contained it's not complicated it it just keeps everything compartmentalized both from an asset protection standpoint and from visibility right you're going to know as the fund manager and as the investor exactly what you're investing in what you're how you're going to get paid what   your projective returns are and it doesn't really get mudded by other Investments and this is what I CU I've talked to other SEC attorneys and they've talked about it's funny they've talked about how rare what I've done so I've like maxed out my 506b on a my first fund being a blind fund and they were like that's super rare because you're saying hey just trust me but what you guys are saying what you're doing is saying hey this is the specific and that makes it a lot easier to raise Capital because like you said ton more   transparency they know what they're investing into and so for people starting out that's probably the route that they want to start with is something where they can bring transparency and then the investors that they're coming in know exactly what they're investing into that's right de yeah what you did Devon was incredible like it's really difficult to do most people don't start there they can't start there they don't have the ability to um to be able to build that up that level of trust and track record prior to   you launching the fund that's why you're able to do it but most people can't do it most people have to get their first few in the door by showing the investors hey this is the exact deal that you're going to invest in and you're getting you're going to be a part of and they can do their own due diligence and underwriting and those sorts of things and they're say oh yes I believe in that property or that deal and I also believe in you as the the fund manager or the syndicator and it's easier to raise   Capital that way as opposed to a blind pool fund where it's like hey just give me your money and we're going to invest in something that looks like this and yeah exactly exactly so I actually I want to dive into more into tribe vests cuz like so where does the benefit come in because like somebody can just go and get with an SEC attorney and create their own SPV and and kind of go that route but where's the benefit of somebody coming in and working with tribe vest like why I mean honestly like I please I like tell me like why have   you invested into it why do you believe in it so much and then yeah tell me a little bit more about it man yeah because it it just makes everything super simple and super contained and we handle everything so if you go to an SEC attorney like myself I'm going to come in and I'm going to I'm going to draft your offering documents I'm going to file your exemptions do your blue sky filings and that's it and I I'm going to wipe my hands of it and I'll say you know good luck you know more than that I'll help you out of yeah exactly I'm   going to charge you a lot of money I'm going to charge you at least 25k right Tri vest includes everything that you could possibly imagine so all these different parts that you would have to put together as a capital aggregator TR vest handles so that includes not just the offering documents the legal stuff the filing of the exemptions and the blue sky filings but we're going to file for your entity we're going to get your EIN we're going to be your registered agent we are going to uh onboard your   investors so we're going to act like an like an investor relations person on your team so all you do is send us your list of investors and we start reaching out we send them the docs we walk them through how to sign and get them through the signing ceremony we hound them or we call it hurting the cats to get them to actually fund the deal cuz sometimes people get cold feet so bug the hell out of them yep bug the hell out of them until they make that wire we do all that we do the uh the accounting in your k1s   we configure your cap table very cool we do your distributions we open your business banking account we do uh everything on the back end uh we've got the investor dashboard or investor portal that you can use which alone is you know you're going to pay $500 a month at minimum for that by itself so it it's incredible and we do it at an incredible price and I mean we're not we're very transparent about that it's $5,000 upfront and then $2,000 a year annually and that comes with docs and everything that comes with docks and   everything there's just you can't be beat I mean it literally can't be beat and the other thing is the speed so as soon as you sign the greenl docks which is basically just like hey you agree to the services that we're going to provide we will have you raising capital in five business days no way man that's really cool that's fantastic if you come to to me if you come to me as a security attorney I've got that hat on you know we're not doing in 5 days I'll tell you that now how much education do you help   with because I tell people all the time like here's the questions you should have beforehand because your SEC like your attorney will be the most expensive education you have ever paid for if you don't have that information beforehand so like what what type of because they'll charge you like if you don't know if you want a 506b or 506 C you don't know if you if you want your waterfall this way if you want this and you're just asking questions they're going to charge you by the hour to ask those questions and so for you like how   much help do you guys help for people who are like I've never started a fund I'm really looking forward to starting this but I don't know where to go what does that look like for you guys yeah I mean for tribe vest we're putting together some modules actually right now we're going to roll them out literally before the end of the year which will be fantastic because we're going to share that with with the world you're going to be able to self-educate on what is a fun to fund how does that look like in the   fundraising ecosystem like you know what is a preferred return what is the profits what kind of fees can you charge all kind of the nuts and bolts that you need to know we're going to have that out there so soon enough that'll be available to the public and that'll be a huge value ad and huge help for us as well because we don't have to educate one-on-one anymore as a Securities attorney I I will advise on people I mean I'm I'm happy I'm I'm more of a mentor and a coach when it comes to that sort of stuff and I'll I'll be like look   attorney hat off right now I'm going to tell you this and here's kind of your gray area and that sort of thing so you know I I I think I get into those sorts of things a little bit more than most attorneys will um but if you go to like a a large Law Firm or even a regional Law Firm they're they're going to charge you per hour and that's going to be anywhere between you know $400 to $1,500 an hour yeah there's no doubt there's there's no doubt so and this is really interesting because one of the questions   that I had just going into this um and not even knowing about uh the not even knowing about tribe vest and and all of that is what have you seen as far as like trends that you're seeing in the industry right now because Trends seem to be changing one just even I I'm a disruptor you're it seems like you're a disruptor of Industries and we're trying to disrupt this huge investment fund industry um but it seems like there's being like there's different type of offerings there different structures there's different   things that people are doing what are some of the trends that you're seeing that people are kind of pressing against or starting in as far as funds as a whole you seeing that being the case of being become more common yeah I mean so like biggest picture right is trying to get these types of alternative Investments to the masses because most wealthy people even rich people whatever you want to call them that have some Expendable income that want to invest the only thing they know are 401ks stock market mutual funds   and those sorts of things and they we just need to get that out there and I think you're seeing a trend towards that I think bringing in more people that want to raise capital and start a capital raising business is how you do it right because they've already got their built-in networks and then those networks know other people and and it kind of spiderwebs out from there so that's that's kind of the biggest picture trend is just trying to see well we're seeing you know alternative investments just become more available   to the masses second you're seeing the industry go away from the CP model which I like to say the cgp model is dead and you're seeing people turn to the fun of funds route yeah because the cgp model has just been abused if you do it the right way if you're actually an active partner and you're actually participating in the meetings and and decid on Asset Management typee decisions then all good that's how it's supposed to be but when you're just raising capital and not doing anything else that's when the CP model gets   abused and it's not just oh well you shouldn't do that it's illegal it's plain and simple illegal so that was like the conversation I'm telling you when um I was having the conversation with that guy at my at my Mastermind and he was like we're doing this and I go like stop and he's like haa and I go no no it's illegal and he's like oh haha and I'm like no no like prison illegal and they I feel like just people don't understand the severity because they feel like what's wrong with it it's not that bad and it's like no no it's   illegal yeah and you know that this is just what happens right like you just kind of everybody just pushes boundaries pushes boundaries and you know fortunately or unfortunately however you want to look at it the industry's been fantastic for a long time right the real estate industry's went up since the the crash in 2009 2008 all the way until really covid and that was just a blip and then it took off again and then B basically up until last year 2023 is when you started seeing it kind of take   a nose dive a little bit because of interest rates and not because of the actual state of the market but the interest rates but either way it started going down you started seeing some people get in trouble but all along the way on that rise up all the investors have been happy he's suing anybody because they've been getting their returns and they've been everybody's been crushing it and even if you're a terrible operator you've still been crushing it because the market saved you and nobody's getting sued so it's all   good until it's not and then you've seen in yeah and then you see in 2023 you see you know potential foreclosures and workouts and you know Capital calls things like that investors aren't happy and we're in America and people are like yo how can I get my money back well you try to sue somebody and that's when you start seeing some of these things where the cgp model was abused or people weren't raising Capital the right way or they didn't f exemptions all those sorts of legal things that nobody really   worried about because everything was great start coming up and you're you're seeing that now so you're seeing that shift away from the CP model to the fund of funds model because the fund of funds model is compliant obviously if you do it the right way but it's more compliant and it's always been the answer but at the end of the day it's expensive it's more complicated you've got more attorneys you've got a whole separate offering all these different things that you have to take into account and people   were like I'm not doing that but now we're kind of forced into having to do that and that's where you know tribe vest and aester and some other folks are coming in and having coming up with solutions for that yeah that's really cool um because one one more thing I'm really curious on that you've seen because I feel like there is a fairly irreg irregulate asset you know coming into a very regulated um like structure right so one the things I'm talking about is like the rise of crypto in these crypto funds and these blockchains   based funds have you seen that start to affect like the legal landscape of funds and the formation that people have of that and the way that people are thinking through that and even how the SEC is starting to figure that out and uh and stuff like that have you seen like an emergence of more of those blockchainbased funds I have yeah and not just like strictly you know blockchain and and crypto but also just spin-offs of that right like you saw tokenized real estate was a big thing for a little while it's kind of turned   down a little bit but that was huge that was like I was crazy that you could be like I'm tokenizing my my bathroom and when I sell it you get like that much of the footage and the appreciation it's like what that's crazy yeah so it's kind of cooled out a little bit you know I don't I honestly don't follow that that closely just because I know that it just changes so fast and especially now that we've got the new Administration in here you're probably going to see a lot more loosening of that which would be good   for us but yeah I mean you know you're going to see that right like CU we are just on the the precipice of just crazy technological advancements from tokenized Real Estate to you know crypto to AI like all this stuff is going to like this landscape 5 years from now is is going to be unrecognizable yeah that's it's it really will just because of the way that contract law is going to go from the from the from um from I guess blockchain based like because like you'll see that where the blockchain will take a lot of   those uh a lot of that aspect and change it and flip it on its head so it's going to be super interesting to see how that goes man I want to respect honor your time I appreciate you being on I guess one thing I guess one more question that I have before we kind of go into the exit if there's somebody that's thinking about starting a fund because what you were saying earlier really there's only two main people if I'm fully transparent I want to be able to be uh the voice of funds for minorities and women in this   country because like all those other they all the white dudes they could have all the other white dudes that's fine with me but there's a lot there's a there's a huge disparity I heard uh don peees once say and this has changed my my my thought my process like my mindset ever since he says in the history of America there has been $94 trillion to come in through private equity and real estate in the history of American and history of America 8.3% of that had no sorry 1.7% of that have gone to minorities and women that means 98.3% of   that has gone to white men and so there's this massive disparity between access to education like you're saying access to Capital Access to I think there there's this quote that says the world equally distributes talent but doesn't equally distribute opportunity and so there's this huge disparity of opportunity of people that look like me and look like you and look like women around this country that I would love to make sure we're the voice for and so for people who don't have a lot of that education one what's a big piece of   advice that you would give them and when they're starting to think about starting a fund because I think like if I'm full of transparency most of the people I talked to and I told you I saved from prison there were black dudes they're just trying to do the right thing but don't have the education to do the right thing and so for for that like what what's a big piece of advice you would give people that are thinking like I think I want to start a fund um what should I look out for how expensive does   it matter because we've talked about a better solution for how expensive it can be but what's the thing that they should be looking out for yeah I mean you know right off the bat like be confident and don't be intimidated because I think some people yep in those groups that you described might feel a little discouraged because of that because you walk into a room that is maybe all fund managers or all capital risers or you know those types of people and you're like who I don't look like everybody   else so maybe I don't belong here or maybe your confidence goes from here to to hear and you're like and then and then you come off that way right like you've got to you got to step into that room with confidence and a lot of a lot of that comes down to self-education right like it comes from education and it's out there now I mean we mentioned that there's only a few really good sources but you can still piece it together I mean you can find anything on YouTube University just to at least get the you know being able to talk to talk   and walk the walk and and feel confident doing that so just get educated to start get that Baseline and then get out there and just be be confident like I said don't be intimidated don't feel like you don't belong because we got to get folks out there that are that are doing it from from those groups yep that's right man well I appreciate it Seth where can people find you where can people hire you where can people join what you're doing um because I think that they should I'm a big believer in you and   what you're doing and I'm excited for for all those things appreciate it man I usually update all my Links at Seth Paul bradley.com so you can find everything there I'm all over social media so all my handles are Seth Bradley Esq cool man I appreciate you thankful for your time thankful for your friendship I really look forward to uh to Growing growing together man it's fun to see other people that like we're about the same age I don't know you look like you're in your 20s but you're you're not I know   that but like uh but like like for us to just rise together on this man and so I'm thankful for this journey that we're on together and I appreciate you being here today love it brother appreciate you yes sir talk to you later man wow I hope you enjoyed that I have a quick favor if you've been enjoying the show there's one simple way you can support us and it's by hitting that follow button or that subscribe button on the app app you're listening to I want to level this podcast up in every single   way possible bringing you more value incredible content and guests and new strategies Following the show and leaving a quick review goes a really long way in helping us to grow and continue to deliver top tier content it's the only free thing I'll ever ask you to do and it makes a bigger impact than I can possibly put into words so thank you for being a part of this journey and I'll definitely catch you on the next episode to great success and greater impact peace Links from the Show and Guest Info and Links: https://www.youtube.com/watch?v=P-w_w6WAUVw https://www.instagram.com/p/DHbcSjGT7Jn/ https://tinyurl.com/FFfoundations-YT https://pfcapital.us/ Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en Devin Robinson's Links: https://www.instagram.com/devin.robinson1/ https://www.linkedin.com/in/devin-robinson-997ba040/ https://www.facebook.com/drob737/ https://x.com/devinrobinson37 https://www.threads.com/@devin.robinson1 https://www.tiktok.com/@devin.robinson1  

There are always investment opportunities; you just have to be patient enough to look for them! Today, we welcome the founder of the passive real estate investment educational platform, CARE, Chad Ackerman, to the show to discuss everything you need to know about investor syndication! Tuning in, you'll hear all about Chad's career and how investing led him to leave his corporate job, some big limited partner mistakes to avoid, and key things to look for in a PPM. We delve into Chad's focus in the space right now before he tells us about his new coaching program and Passive Pockets. We even discuss what Chad thinks we can expect from the future of investing and interest rates. Finally, our guest tells us about some things he always avoids when looking for investing opportunities. Thanks for listening in! Key Points From This Episode:Introducing Chad Ackerman to the show. How Chad got into passive real estate investing. Why Chad eventually left his corporate job. Some of the biggest mistakes you can make as an LP. Key things to look for in a PPM as a limited partner. Why Chad is focused on multi-family right now. Chad tells us all about Passive Pockets and his coaching program.Where he thinks the future of real estate opportunities is headed. Chad tells us about his ‘heck no's' in investing opportunities. Links Mentioned in Today's Episode:Chad Ackerman on LinkedInCAREAsset Management Mastery Facebook GroupBreak of Day Capital Break of Day Capital InstagramBreak of Day Capital YouTubeGary Lipsky on LinkedInJoseph Fang on LinkedIn

Title: What They Don't Tell You About Raising Capital (Until It's Too Late) with Ben Fraser Summary: In this episode of the Invest Like a Billionaire podcast, host Ben Frasier interviews Seth Bradley, the Chief Legal Officer at TribeVest and an experienced securities attorney. They discuss Seth's transition from a big law background to becoming a passive investor and then an active capital raiser, detailing the steps involved in his journey. Seth shares insights on private placements and syndications, emphasizing the importance of understanding legal documents such as Private Placement Memorandums (PPMs) and operating agreements. The conversation also highlights key trends and shifts in capital raising, particularly the emergence of the fund-to-fund model, which allows passive investors to leverage their networks without taking an active role in deal management. Furthermore, Seth talks about the services provided by TribeVest to simplify the investment process for both passive investors and new fund managers. They touch upon the current state of the alternative investment market, discussing the advantages and opportunities available amid economic challenges. Links to listen and subscribe: https://podcasts.apple.com/us/podcast/155-moving-from-passive-to-active-investor-feat-seth/id1587171662?i=1000652125962 Links to watch and subscribe: https://www.youtube.com/watch?v=oiRq38II33s&t=1047s Bullet Point Highlights: Seth Bradley's Journey: Transitioned from big law to passive investing, and now to active capital raising. Understanding Legal Documents: Importance of critically reviewing PPMs and operating agreements as an investor. Red Flags in Investments: Identifying key terms and clauses in legal documents that can affect investor rights and returns. Fund-to-Fund Model: Insights into how new capital raisers can operate without needing to be actively involved in deals. TribeVest Services: Overview of how TribeVest supports fund managers with a streamlined legal and operational framework. Market Trends: Discussion on the evolution and current opportunities within the alternative investment space. Advice for Investors: Encouragement to dive into the market now to capitalize on upcoming opportunities as conditions stabilize. Transcript: hello future billionaires welcome back to another episode of the invest like a billionaire podcast today's guest is Seth Bradley very fun to talk with him he's friend of mine for several years and he's the chief legal officer at tribe vest which is a really cool company if you haven't heard of them we actually had their CEO and founder on about a year ago but they're kind of doing a really new cool push that I'm going to talk about in a sec but his background he's a big law Securities attorney spent a lot of time in kind of   corporate world transition really to kind of becoming a passive investor invest a lot of syndications so he talks a lot about his journey making that transition kind of going to generate passive income Financial Independence but then he's actually shifted back to becoming an active Capital Riser and he's seen a lot of people make this transition that been investing for a little bit and now want to kind of activate their Network and some of the stuff they're doing at Tri bestest is making this really really easy for   people so it's a really cool interview we kind of hit a lot of his journey from his perspective as a Securities attorney what are some of the big things you got to focus on when you're reviewing legal documents what are the red flags yellow flags Etc and then he kind of shares a little bit about some of the things and the trends going on in the kind of private placement syndication and capital raising worlds that if you haven't heard about some of these ideas you definitely want to tune in and listen because it's pretty cool I'm   seeing the same thing on my side of things so you're going to enjoy this episode he's a very very sharp guy and a lot of great insights that he shared I think you're going to love this episode please enjoy this is the invest like a billionaire podcast where we uncover the alternative investment and strategies that billionaires use to grow wealth the tools and tactics you'll learn from this podcast will make you a better investor and help you build Legacy wealth join us as we dive into the world   of alternative Investments uncover strategies of the ultra wealthy discuss economics and interview successful investors looking for Passive Investments done for you with and funds we help accredited investors that are looking for higher yields and diversification from the stock market as a passive investor we do all the work for you making sure your money is working hard for you in alternative investments in fact our team invests alongside you in every deal so our interests are aligned we focus on macr   driven alternative Investments so your portfolio is best positioned for this economic environment get started and download your free economic report today welcome back to another episode episode of the invest like a billionaire podcast I am your host Ben Frasier and joined by a very exciting guest Seth Bradley I've know Seth for several years he is the managing partner at Ray's law and the chief legal officer at tribe vest and uh Seth and I have done some business over the years and different things he's an   attorney and uh a very experienced Securities attorney and even has his own podcast called the passive income attorney podcast and so he comes with a really unique perspective both being an entrepreneur investor as well as an attorney gives him some really unique insights in this space of kind of private placements alternative Investments and super excited to have on the show so Seth thanks for coming on man Ben appreciate it man we finally got around to to recording this really really appreciate it man yeah it was   kind of fun because we reached out a couple years ago and uh we're we're gonna do something that never worked out and then all of a sudden you're ready to do the podcast tour and Pops back up three years later so hey let's do good I'm I'm gay man so looking forward to doing this now so give a little bit of uh context for your background uh for those who maybe aren't familiar with you and just kind of what you do in kind of the areas of expertise that you focus on as an attorney sure man so I worked in   big law for about seven years um most recently at a top three globally ranked Law Firm um as a real estate started out as a real estate attorney made my way over to Securities um at that point um I started kind of getting that you know mo as most entrepreneurs do that feeling like you want to do something else you don't want to have all these bosses you want to get out there and do your own thing um but you know I'd worked pretty hard to get where I was so I wanted to make sure that I knew what I was getting   myself into um I'd already been working with Real Estate Investors and folks like that as my clients um started talking to them started talking to some of the partners in my in my firm about how they invest what they do um really Lear learned about you know passive investing um and making my way kind of to the equity side and that's really where I my journey began as a passive investor in in syndications so I invested in a number of those um and also invested actively you know I kind of did the the Bigger Pockets uh you   know path where I listened to Bigger Pockets I did a you know house hack I did fix and flips I did buy and hold single families things like that as well as past investing in larger Investments um and at that point I realized hey I've got this network of attorneys and other folks that I can raise capital from so I made my way from passive investor to active investor man so you've done done the the full circle here I love it so started Big Lot and your bio says you Clos billions of dollars in real estate   transactions over the past decade so you've you've seen a lot of deals um I'd be curious because you know a lot of people that maybe newer to real estate investing newer to Alternative investments in general and just the world of private placements they kind naturally think hey the only way I can do it is you know the Bigger Pockets path which is a great path if you want to go and you know do it actively and have a second job so to speak where you go and buy your own real estate and and fix it up or work with contractors to   fix it up but you went straight into syndications which in a lot of ways uh fits better for uh people that are working professionals and you know don't want to necessarily trade time for wealth building already have a great income uh generator through the their job or their business and they want to just redeploy that into syndications so what was kind of the journey for you understanding the world of syndications and really with your background um insecurities law and how did you kind of get comfortable with that and what was   the Journey For You diving head first into syndications early on yeah I mean you really have to have skills uh money or time that those are the three things you can really offer right so it depends on how much of each one of those you have as to what your investment profile should look like and what you should get started in um I was actively wanting to participate in deals from the get-go but I did already have exposure from my real estate uh real estate practice to syndications and and watching other   people raise Capital knowing that those types of Investments are out there so I think I had an advantage there because prior to that I had no idea the only thing I knew was kind of that Bigger Pockets path it's like okay well house hack into a single family or dup or a duplex and then rent the other side out and then Fix and Flip This or wholesale that um I didn't really know about syndications other than through um my my law practice so I think I had that Advantage um get getting that exposure   and being able to transition to that quicker yeah talk a little bit about I mean your podcast is called passive income attorney and your your big goal is passive income and what was really kind of the idea behind that or why was that your primary goal and what does that mean to you yeah I mean the idea behind that was to be passive and I think we kind of as entrepreneurs we go back and forth I think we all want to end up on the completely passive side eventually but sometimes you don't get there as quickly   if you don't go on the active side for a little bit and I think I'm I'm seeing that a lot myself I did that I started investing passively and now I went to the active side as an active syndicator as a fund manager raising capital and participating in deals even on the operational side um because you can accelerate quicker that way if you the more time and effort that you put in the faster you can accelerate now a lot of folks out there especially pive investors listening if their doctors dentist lawyers they don't have time for   that so they need to invest passively that's probably the best use of their time because their highest and best use of their time is in their career being a doctor a dentist a lawyer an engineer where they're making a lot of money in their active income it doesn't really make sense that for them to start a fix flip business or wholesale business or even a syndication business really out of the gate until you figure out what what you want to do it makes more sense to take that active income put it into   passive investment vehicles that don't take any time away from your practice Yeah I love that what' you say there's you you one of three things skills time or money right and so one of those you're going to be trading to generate more passive income or wealth and wherever you're at in the Spectrum and where you're willing to kind of trade for for that invest I love that it's very uh makes a lot of sense so talk a little bit you know I want to get to what you said this in the minute kind of transitioning kind of bluring the line   of going back and forth between passive and active I think this is really interesting I've seen the same Trend but before we get there you know a lot of a lot of our listeners you know that are maybe newer to syndications newer to passive investing they um get a little bit shell shocked when they see a PPM or a set of legal docs to review for a deal and they they don't know what should I be focusing on what should I be looking for what are potential red flags or yellow flags and you know from your perspective and   I'm sure you probably saw a lot of things early on they like okay that's interesting or um you know making that transition you already had a leg up uh given your background but what are some kind of key things that you know maybe even coming into it you already had a leg up but now even 10 years later down the road have learned and things that you said you know hey this is way more important than I thought it was originally from from a pure passive standpoint because I think that's a roadblock for a lot of people yeah yeah   and you know it's intimidating right when you get that first PPM which is going to have exhibits to it and the exhibits are going to be an operating agreement subscription agreement maybe um maybe some marketing materials a business plan things like that you're looking at at least a 100 page document maybe it's 200 pages and if you're not a lawyer and used to looking at 100 page documents that is intimidating you're like what am I supposed to do this is going to take me you know this is like a month's worth reading if I'm actually   going to read this thing and really most past investors don't read it um but you should I mean you should at least start reading them um because it gets it gets easier and easier to read because they're all going to be very similar they're all going to have a similar structure and similar pieces and things to look out for I think one really important thing and you might not be able to do this the first time but you can start um kind of thinking about it but just really matching the PPM to the oper room because the PPM should really   be um kind of a a summary so to speak of the operating agreement because the operating agreement is the meat of what's actually going to be the the terms uh within that LLC within that investment and at the end of the day if something goes wrong or not even goes wrong but if there if there's some sort of um agreement or disagreement that needs to be figured out you're going to look at the operating agreement not necessarily the PPM to figure out uh what the next step is what is the mechanism for fixing this problem so you   know just making sure that the people PM accurately reflects what the operating agreement says is very important and and then taking a step further that the operating agreement and the PPM match what the lead sponsors are telling you let's say in the marketing materials or the webinar like just making sure that there's a clear picture between all the marketing materials the webinar um and the legal documentation is really important and sometimes if it doesn't make sense or there are certain terms   that don't match up you know maybe they're not as meticulous as they should be and you need to look elsewhere that that's a really important thing to look out for um kind of coming back to your question you know when when you're first starting as a passive investor all you're really looking at is the returns right you're comparing kind of your projected returns in this deal to your projected returns in this other deal and you might get a 2% more irr return projected in this one than that one so   you're going to go with this one but at the end of the day those are just projections right those are just projections and those can be manipulated those are based on assumptions from the lead sponsor and those are not the most important things the most important things are the the sponsor and their track record what they've done how they've performed um and you know the market and the deal itself but just those projected returns can be manipulated so that's really you know it's important at the beginning or at   least you think it's important and then later on you become a more um wiy vet in passive investing you'll realize it's not as important as as as some other things like hey are your fees aligned things like that like what are the Voting Rights like how what if something happens and the manager is doing a terrible job how can you possibly get them out like what are those mechanisms um what are the mechanisms for a capital call when things go wrong what what happens those are the those are the more   detailed things and the nuances you need to look at as a past investor rather than just looking at the projected returns that's a lot of lot of good nuggets right there you just listen to that skip back a few minutes and listen to it again because that's really good I think you're so right right if it just it can feel intimidating to look at a 100 page 200 Page document and where do I start but just start at the beginning just start reading it it just got to skim read it skim read it and just the more   you get familiarized with um these different document sets the more they all kind of seem similar over time and you can kind of notice the the things that are common among different deals and then you also kind of notice the things that pop up as oh that's kind of unique or that that's kind of different than what I've seen in other deals and that's maybe outside of the norm um and just kind of getting familiarized with it you're going to pick up a lot on it but I think you hit a few of the sections that I think are really   important that a lot of people kind of glaze over because if you're getting just looking at the here's the irr projection here's where turns are going to be like you said there's uh a lot of assumptions that go into what those numbers are derived from and you know I always come back to my banking background you know risk adjusted returns right because every element of uh every deal you know whatever return you're projecting there's different levels of risk and if you're you know taking a lot more risk in a particular   deal or strategy or structure the same level of return it's it's not Apples to Apples right and so understanding what that is from a deal standpoint but there's also risks uh some of the points you made within the legal structure and so he's saying go straight to the operating agreement as a starting point because that's ultim timately what's going to govern the the deal and the mechanisms for potentially firing the sponsor as a manager or like you said the capital call and the waterfall section understanding how does do   profits flow through the entity and what are the splits between them what are some things that maybe 10 years down the road now invested I don't know how many deals you've invested in passively but you look back you're like oh man you know what I I read that section and you know I kind of knew that maybe was a little outside the norm but I was so excited about the deal didn't really wasn't too concerned about it now looking back like oh man now that was that was a good learning experience because now you know maybe I can't vote   out the manager or you know different things that you would say looking back are more important that maybe you put weight on in the front end and maybe some examples of um you know especially right now I think a lot of a lot of deals that people invested over the past few years you know unfortunately are requiring Capital calls or are kind of headed in a direction that may not be good and um you know maybe it's the fault of the operator maybe it's not but if it is a fault of the operator What mechanisms do you have and what voting   rights do you have as a passive investor and talk a little bit about that because I think that's going to be very relevant especially over the next few years is sure certain older deals are kind of not hitting the projections they thought originally yeah I mean I think I already touched on most of them from a high level but like for instance um voting out the manager like if the manager is doing something um fraudulent or misrepresented what they were doing or you know really just doing a terrible   job is probably not a reason enough to get them out but it could be um if it gets to a certain certain point um but that's really one thing to to look for to see like what the mechanism is like does it take a unanimous Vote or does it take a majority vote or does it take a majority or super majority of each share class each membership class within the LLC so it it and typically they're set up so it's really difficult to get the manager out right because the lead sponsor is going to be the manager and   they're the ones that are going to be making all the decisions and they don't want to lose control so they wanted to make it as hard as possible um and still make it legal um to stay in that seat and not get voted out so you know you will see some pretty onerous um Provisions within the operating agreement to be able to get them out but there should be a reasonable way to do it whether that's a super majority vote perhaps that's that's reasonable so super majority vote um in the event of a misrepresentation fraud you know any   sort of like bad boy act by the the manager or if their bad performance reaches the level of you know negligence or something like that there just needs to be a mechanism to get them out that's that's just one example when you had mentioned Capital calls as well so Capital calls it's like what is the mechanism when the LLC or or the syndication needs additional operating expenses to survive what what is the mechanism to do that like can is the first step to actually do a capital call and is that Capital Call Mandatory   meaning that the investors have to participate um on a proat a basis or that's not typical so if you that's one thing to look out for if it is mandatory that you do and and if you don't then you're basically out or you lose uh you know an unreasonable amount of your Equity if you don't participate then perhaps that's a red flag right like if you don't participate um well I should say the capital call should be optional and if you don't participate that's okay um but you will most likely be watered   down your Equity will get watered down on a prata basis rather than something above a pro basis right so that's an example you're saying of if it's required which is uncommon right that that's that's a red flag potentially um or if you get diluted a higher than the proat mount is another another negative and you're exactly right I mean I think you know part of this is when you're when you're investing passively you're you're giving up control of of operating the deal to the sponsor right is so that that's kind of   the the trade-off is you're hiring experts you're investing with experts that hopefully know what they're doing so that you don't have to be doing the day-to-day stuff and so it can be difficult to replace managers and and uh you know have uh impactful voting rights uh that can change the outcome unless there's fraudulence or negligence but I think it kind of goes to the point too of understanding what these kind of parameters are and what's normal and then also like I think you can pick up a lot of what you're saying and just the   congruence between PPM the operating agreement the the offering memorandum the webinars and um and then really the alignment of Interest right because if ultimately if the sponsor stands to lose alongside the investors if they're not just getting rich just off of fees and you know does they don't have a whole lot of skin in the game then ultimately it might not be you know a great deal but if they have a lot of lot skin in the game and even if it's written in these certain ways it doesn't necessarily mean it's a bad a bad   investment so okay love it get a little bit in the weeds there for for some people and if this is you know um newer to you I I definitely encourage you um to just start this you know opening up the bpms or reading them and you're going to pick up a lot by doing that and then just ask questions right and I think it's a great thing too that if you're reading the PBM and reading operating agreement to ask questions of the sponsor and that's usually pretty indicative of one how well do they know their own documents and to how willing   are they uh to address certain questions that maybe maybe concerns to you right and I think you can actually get a really good sense of um how they and how they respond of of what that interaction is going to be so love that thanks for some of that Insight Seth I'd love to shift a little bit uh you mentioned something earlier I I wanted to come back to is you you kind of you have said before you the future of capital raising is kind of Shifting and evolving and I think a lot of people are realizing and   I've seeing the same thing too right I'm a a coach and you know masterminds for Capital risers and this fun to fund model is becoming very popularized and people that maybe think oh I'm not really a capital Riser or you know that's that's not my you know what I've learned to do went to school to do or whatever or realizing hey actually I've been investing passively for a while I have a pretty great Network because I'm around a lot of accredited investors I've done enough to kind of know a good amount and   I can actually turn this into a business right and so talk a little bit about what the fun to fund model means and maybe someone that's in that boat where what you said is I think I'm gonna go 100% passive but then you know you're also learning a lot along the way and you have a a network that maybe you can activate and also raise capital and get get paid to do it compliantly that's right and and you said it and I'm seeing it time after time where past investors they invest in a number of deals and and   you know folks that are investing in these deals typically have a little bit of money and they probably have friends that have money as well and their their friends start asking them about the deals that they're investing in um and they start thinking hey you know what what can I can I get paid can I have a is there a business here that I can develop that I can build um by bringing in all my friends and family that might also be wealthy might be able to put these These funds together um and invest   in the deal together um you can certainly do that but you start to run into lots of Securities lots of rules and regulations that some people know about and some people don't you'd be surprised uh um that you know you see people out there raising capital in ways that they shouldn't do it um but what's great about the fund of funds model is that you know you're not a what's called a CP so you're not an active partner with the lead sponsor that's kind of the I'll call it the old way and I you know   I've been saying that the CP model is dead just to kind of put it out there that um you know we shouldn't be raising Capital with lead sponsors and then not doing anything else not participating in deal and and having an active role if you're a true cgp you need to have an active role in in the deal and that's kind of what deters um passive investors and doctors and dentists and lawyers and people like that that already have a career they don't want to take an active role right like they don't want to do   the asset management or manage the property manager or talk to tenants or anything like that and that's where the fund of fund solution comes in the fund of fund solution is really creating another syndication or another fund um that invests into the lead sponsor syndication or fund and that's where the name fund of fund comes from now traditionally the issue with that is well it does come with responsibilities for the fund manager they they have to put the deal they have to put their own fund together they have to put their cap   table together open a business banking account form an LLC get a Securities attorney um you know manage their investors manage their distributions do taxes all those sorts of things and so it turns into an active business and on top of that it's expensive because we are creating a second syndication a second fund to invest in that uh lead sponsor Target Fund um so that's the the problem that's always been the solution the fund of fund has always been the right solution but those problems that I   just mentioned are why it hasn't been widely adopted but you're seeing a big shift in the market as we're able to provide a more affordable option and a and a solution to bringing all those different services that a fund manager would normally have to go out and get themselves and putting it into a package yeah that makes a lot of sense and so like we said we're seeing the same thing where people are um they've been investing they they like what they're doing they have their friends and their family asking about the different deals   they're doing and then they have thought well hey I mean that's I can make money doing this and what most people have done historically is cgp model and for those that are unfamiliar with that is basically you raise money directly into the lead sponsor syndication or entity and then you get uh granted certain General partner shares for doing that but and you're the you're the attorney so I'm I'm gonna say at a very high level as I understand it by by doing that you are um uh well you can't raise   money and get paid for it unless you're a registered broker dealer unless you're General partner and uh are continuing to operate the uh the deal the business and have an active role in it but most people that are just raising capital or just want to raise Capital as um you know on the side of what else they're doing that's not a realistic expectation so what what we've seen I'm sure you probably see a lot more than me is these different uh uh folks that are raising capitalist cgps and then you know this   this new SP has about 10 different CPS on the list on the roster here and it's pretty hard to make an argument that they're all actively participated in managing the deal because you just don't need that many people right if it's the same deal and so then you kind of run into compliance risk and you just you don't want to mess with that I mean that's that's just let's leave it there and so the fun of fund model has always been around it's basically you create your own fund and as your own fund manager you're exempt from um uh some of   these uh securities issues to basically raise capital from your investors into your fund then that fund invests into the uh kind of the mothership fund or the the lead sponsors fund and by doing that you um you know it's you're in the in the you're not in the gray area anymore where it can kind of be um maybe not great from a compliance standpoint and the challenge as you mentioned though is it can be expensive maybe it's a little complicated to know how toell up and I'm not really a professional fund manager   how what do I know um but that's that's what you're doing now at triest and we've had Travis Smith on the podcast before so if you haven't listened to that episode um it's probably a year or so ago we'll put the put the link in the show notes because it's a um a great episode talking about tribe vest and what what you guys are doing really trying to from my perspective simplify the access and the kind of backend back office functions of um both for Passive investors and for fund managers to continue to increase   access to more to more deals so talk a little bit about kind of what you guys do at at tribe vest and to kind of help people um you know both from a passive standpoint that's want to direct the investors past investors that don't really want to do it as a business but then also kind of the new fund manager programs that you guys are putting together to help people that want to kind of activate their Network want to you know use this as a way to make money and um do it without having to be an expert in all the the backend side of   things absolutely at at Trio I'm the chief legal officer for tri best I help create the fun to fun product that we have out there right now it makes it simple TurnKey and affordable for anyone to really start a capital raising business um all those things that I mentioned before opening your business bank account um starting your LLC drafting your offering documents um getting your EIN onboarding your investors creating your cap table doing your distributions doing your taxes all those things you normally have to put   together and find different uh platforms and different people like attorneys and CPAs to help you out and put those put the the fund of fund together we do that we put it in a fund of fund we call it a fund of Fund in a box it's really a Lego block that you can use and invest in a deal like with Aspen if Aspen has a fund you can create your own fund you try best bring in your five or 10 uh best friends that want to put in some money you can carve out a piece for yourself so you actually get paid a fee a front   maybe you get paid a fee um during the uh hold period and then perhaps you get a percentage of the equity on the back end so it can be a very lucrative business for someone to get started and because triest makes it so easy to do it meaning put all these different services and things together for you it it really anyone can do it yeah that's so cool and we we've worked with you guys and have seen it in action and you know to say f Fund in a box sounds almost uh trite because it sounds like can you really do   that but it's it's cool because you guys have have solved it and and not only have you solved it but it's also pretty cost- effective right I think one of the big challenges with the fun of fund is generally you can invest if you kind of pull Capital together in a fund you can invest at better terms with a sponsor so you can have a little more margin that you can kind of get paid from and your investors still make the same returns um but if you have a lot of legal costs a lot of ongoing um kind of portal and   back office expenses and tax returns everything else then it gets kind of expensive and eats away at the margins that you know you're hoping to to use to pay yourself so you guys have kind of Crea a really streamlined um kind of off-the-shelf product that can fit majority of of offerings and make it pretty easy right that's right it gets really difficult to make it work that's again the fund of fund like we've talked about it's always been a solution it's just really expensive and really hard to put   it together um especially for someone that that isn't a professional Capital Riser um that just wants to put together $500,000 a million a million5 something like that it it it doesn't even make sense cost wise in the old way of doing it you're going to pay a Securities attorney minimum of like let's say 15,000 maybe 20 maybe $25,000 to put one of these together maybe even more I used to work at a big Law Firm where it cost $75,000 it's crazy the expenses that add up and that's just the legal piece that   doesn't include all the back office administration things that we talked about doesn't include um engaging with a CPA to do your taxes it doesn't include all those things that's just the legal cost by itself and tribe best has made it super inexpensive to be able to do this and to be able to do it time and time again so it works with a $500,000 raise it works with a million dollar raise you don't have to raise $20 million to make it work from an affordability standpoint yeah that makes sense so do   you guys also have like any kind of education or different coursework to help people that are you may want to make the transition of like yeah I think that that sounds like something I could do I my friends are always asking me what what I'm investing in and it wouldn't be that hard to go get five 10 friends to go and invest and create a fund and you know but they just don't they've never done it before they never thought about it till just now so right you guys have I know you're really more given the solution but do you also have   like any kind of education or do you have resources you guys can point people to to learn more about what does it look like to you know what what's what's the process you have to go through to um kind of go from idea to actual uh you know making a fund yeah yeah I'll tell you we don't have any formal legal or sorry formal educational things out there at the moment but we are working on that um but we have made it so simple that we can jump on a zoom call with anyone that that's in is potentially   interested in being a capital raiser and putting together a fund of fun and walk you through a pitch deck and it should be pretty clear what you need to do because we handle basically everything you you put together your investors you put together your terms and how you're going to get paid and then we'll be able to do kind of all that back office all that legal all those things that you don't want to know or don't want to do we handle all it yeah makes sense awesome well kind last question I just   love to get your insights on just the market in general for Alternatives and and private placements and you've obvious been in this space for over a decade and we've been in the space for about 11 years now as as an operator and it just feels I mean it's it's already been the amount of capital that's kind of come into kind of private Equity into real estate into private placements in eneral it's totally shifted the game but it also feels like we're still kind of early Innings right it still feels like   people are just discovering this for the first time and and even the conversation we're having of you know um activating people to raise Capital right in a compliant way that's just an easy way because you guys are creating a system that just reduces friction to continue to increase more Capital to come into the space like do you feel the same thing are you seen I know there's kind of some potential proposed regulation to you know increase the requirements for accreditation and you know there's   always a battle going back and forth on on that but what's kind of your sentiment just at a broader level of just the alternative kind of private placement space in over the next 10 years yeah I mean I'm I'm bullish right like we're we're kind of in a little bit of a lull right now um you'll hear that capital's a little bit harder to come by investors are holding on a little bit tighter um but that's because there's actually deals out there right now I mean said right now is actually a great time to invest right now is a great time   to invest because prices are are depressed a little bit um investors are a little bit reluctant to invest um there are less buyers in the market because a lot of them are getting kind of washed out um but there are some properties coming online through foreclosures through things like that this is where you know when you talk about during good times you're like oh man I cannot wait until there's blood in the streets and I'm going to pounce on it I'm want to pounce on those opportunities that time is right now it   it's not it's not you're you can be waiting on the sideline for years and you're gonna you're gonna miss it it's right now right now is the time to to figure out how to invest how to raise Capital how to do deals how to make them work because right now it's difficult to make them work that's that's the truth of it right now is the time to act and you're going in five years from now for instance you're going to look back to this time and say man I wish I would have got started because we're we're   we're going to be in the upswing again very soon totally no I was just uh I was a one of the guys I follow who's been in real estate for a long time he was talking and reminiscing about he bought uh I think he said three dozen single family homes between uh 2009 and 2011 right and he's held on to them since then and you know looking back he's like the only thing he wishes he did was buy more right because it's but at that point it was you know everything was on sale everyone was like real estate's over and it's it's so hard to   be contrarian I think it's Warren Buffet this said be uh you know fearful when everyone else is greedy and greedy when everyone else is fearful right it it's it's a simple idiom that makes sense but it's really hard to do and right now we're kind of in that that time where investors are reticent there's a lot of pressure on deals right now that's kind of creating a great buy opportunity you know we're seeing I know you're seeing it and uh you know I think I agree with you I think it's a great time to be to   be jumping in right now and uh Seth thanks so much for coming on man what's what's the best way for folks to get a hold of you and learn more about uh your law firm uh raise law and try vest if they want to learn more about what that looks like for sure uh the best place where I keep all my links is Seth Paul bradley.com um you'll have links to try best there links from my uh law firm and social media it's all posted on there okay we'll put that in the show notes and definitely appreciate you coming on   today set it awesome all right Ben appreciate it [Music] [Applause] [Music] man Links from the Show and Guest Info and Links https://www.youtube.com/watch?v=oiRq38II33s&t=1047s https://www.instagram.com/p/C5mNnwsv2fs/  https://aspenfunds.us/private-credit- https://www.investwithaspen.com/free-economic-report https://www.linkedin.com/in/benwfraser/ https://www.linkedin.com/company/aspen-funds/ https://www.instagram.com/aspenfunds/   Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en

Title: What They Don't Tell You About Raising Capital (Until It's Too Late) with Ben Fraser Summary: In this episode of the Invest Like a Billionaire podcast, host Ben Frasier interviews Seth Bradley, the Chief Legal Officer at TribeVest and an experienced securities attorney. They discuss Seth's transition from a big law background to becoming a passive investor and then an active capital raiser, detailing the steps involved in his journey. Seth shares insights on private placements and syndications, emphasizing the importance of understanding legal documents such as Private Placement Memorandums (PPMs) and operating agreements. The conversation also highlights key trends and shifts in capital raising, particularly the emergence of the fund-to-fund model, which allows passive investors to leverage their networks without taking an active role in deal management. Furthermore, Seth talks about the services provided by TribeVest to simplify the investment process for both passive investors and new fund managers. They touch upon the current state of the alternative investment market, discussing the advantages and opportunities available amid economic challenges. Links to listen and subscribe: https://podcasts.apple.com/us/podcast/155-moving-from-passive-to-active-investor-feat-seth/id1587171662?i=1000652125962 Links to watch and subscribe: https://www.youtube.com/watch?v=oiRq38II33s&t=1047s Bullet Point Highlights: Seth Bradley's Journey: Transitioned from big law to passive investing, and now to active capital raising. Understanding Legal Documents: Importance of critically reviewing PPMs and operating agreements as an investor. Red Flags in Investments: Identifying key terms and clauses in legal documents that can affect investor rights and returns. Fund-to-Fund Model: Insights into how new capital raisers can operate without needing to be actively involved in deals. TribeVest Services: Overview of how TribeVest supports fund managers with a streamlined legal and operational framework. Market Trends: Discussion on the evolution and current opportunities within the alternative investment space. Advice for Investors: Encouragement to dive into the market now to capitalize on upcoming opportunities as conditions stabilize. Transcript: hello future billionaires welcome back to another episode of the invest like a billionaire podcast today's guest is Seth Bradley very fun to talk with him he's friend of mine for several years and he's the chief legal officer at tribe vest which is a really cool company if you haven't heard of them we actually had their CEO and founder on about a year ago but they're kind of doing a really new cool push that I'm going to talk about in a sec but his background he's a big law Securities attorney spent a lot of time in kind of   corporate world transition really to kind of becoming a passive investor invest a lot of syndications so he talks a lot about his journey making that transition kind of going to generate passive income Financial Independence but then he's actually shifted back to becoming an active Capital Riser and he's seen a lot of people make this transition that been investing for a little bit and now want to kind of activate their Network and some of the stuff they're doing at Tri bestest is making this really really easy for   people so it's a really cool interview we kind of hit a lot of his journey from his perspective as a Securities attorney what are some of the big things you got to focus on when you're reviewing legal documents what are the red flags yellow flags Etc and then he kind of shares a little bit about some of the things and the trends going on in the kind of private placement syndication and capital raising worlds that if you haven't heard about some of these ideas you definitely want to tune in and listen because it's pretty cool I'm   seeing the same thing on my side of things so you're going to enjoy this episode he's a very very sharp guy and a lot of great insights that he shared I think you're going to love this episode please enjoy this is the invest like a billionaire podcast where we uncover the alternative investment and strategies that billionaires use to grow wealth the tools and tactics you'll learn from this podcast will make you a better investor and help you build Legacy wealth join us as we dive into the world   of alternative Investments uncover strategies of the ultra wealthy discuss economics and interview successful investors looking for Passive Investments done for you with and funds we help accredited investors that are looking for higher yields and diversification from the stock market as a passive investor we do all the work for you making sure your money is working hard for you in alternative investments in fact our team invests alongside you in every deal so our interests are aligned we focus on macr   driven alternative Investments so your portfolio is best positioned for this economic environment get started and download your free economic report today welcome back to another episode episode of the invest like a billionaire podcast I am your host Ben Frasier and joined by a very exciting guest Seth Bradley I've know Seth for several years he is the managing partner at Ray's law and the chief legal officer at tribe vest and uh Seth and I have done some business over the years and different things he's an   attorney and uh a very experienced Securities attorney and even has his own podcast called the passive income attorney podcast and so he comes with a really unique perspective both being an entrepreneur investor as well as an attorney gives him some really unique insights in this space of kind of private placements alternative Investments and super excited to have on the show so Seth thanks for coming on man Ben appreciate it man we finally got around to to recording this really really appreciate it man yeah it was   kind of fun because we reached out a couple years ago and uh we're we're gonna do something that never worked out and then all of a sudden you're ready to do the podcast tour and Pops back up three years later so hey let's do good I'm I'm gay man so looking forward to doing this now so give a little bit of uh context for your background uh for those who maybe aren't familiar with you and just kind of what you do in kind of the areas of expertise that you focus on as an attorney sure man so I worked in   big law for about seven years um most recently at a top three globally ranked Law Firm um as a real estate started out as a real estate attorney made my way over to Securities um at that point um I started kind of getting that you know mo as most entrepreneurs do that feeling like you want to do something else you don't want to have all these bosses you want to get out there and do your own thing um but you know I'd worked pretty hard to get where I was so I wanted to make sure that I knew what I was getting   myself into um I'd already been working with Real Estate Investors and folks like that as my clients um started talking to them started talking to some of the partners in my in my firm about how they invest what they do um really Lear learned about you know passive investing um and making my way kind of to the equity side and that's really where I my journey began as a passive investor in in syndications so I invested in a number of those um and also invested actively you know I kind of did the the Bigger Pockets uh you   know path where I listened to Bigger Pockets I did a you know house hack I did fix and flips I did buy and hold single families things like that as well as past investing in larger Investments um and at that point I realized hey I've got this network of attorneys and other folks that I can raise capital from so I made my way from passive investor to active investor man so you've done done the the full circle here I love it so started Big Lot and your bio says you Clos billions of dollars in real estate   transactions over the past decade so you've you've seen a lot of deals um I'd be curious because you know a lot of people that maybe newer to real estate investing newer to Alternative investments in general and just the world of private placements they kind naturally think hey the only way I can do it is you know the Bigger Pockets path which is a great path if you want to go and you know do it actively and have a second job so to speak where you go and buy your own real estate and and fix it up or work with contractors to   fix it up but you went straight into syndications which in a lot of ways uh fits better for uh people that are working professionals and you know don't want to necessarily trade time for wealth building already have a great income uh generator through the their job or their business and they want to just redeploy that into syndications so what was kind of the journey for you understanding the world of syndications and really with your background um insecurities law and how did you kind of get comfortable with that and what was   the Journey For You diving head first into syndications early on yeah I mean you really have to have skills uh money or time that those are the three things you can really offer right so it depends on how much of each one of those you have as to what your investment profile should look like and what you should get started in um I was actively wanting to participate in deals from the get-go but I did already have exposure from my real estate uh real estate practice to syndications and and watching other   people raise Capital knowing that those types of Investments are out there so I think I had an advantage there because prior to that I had no idea the only thing I knew was kind of that Bigger Pockets path it's like okay well house hack into a single family or dup or a duplex and then rent the other side out and then Fix and Flip This or wholesale that um I didn't really know about syndications other than through um my my law practice so I think I had that Advantage um get getting that exposure   and being able to transition to that quicker yeah talk a little bit about I mean your podcast is called passive income attorney and your your big goal is passive income and what was really kind of the idea behind that or why was that your primary goal and what does that mean to you yeah I mean the idea behind that was to be passive and I think we kind of as entrepreneurs we go back and forth I think we all want to end up on the completely passive side eventually but sometimes you don't get there as quickly   if you don't go on the active side for a little bit and I think I'm I'm seeing that a lot myself I did that I started investing passively and now I went to the active side as an active syndicator as a fund manager raising capital and participating in deals even on the operational side um because you can accelerate quicker that way if you the more time and effort that you put in the faster you can accelerate now a lot of folks out there especially pive investors listening if their doctors dentist lawyers they don't have time for   that so they need to invest passively that's probably the best use of their time because their highest and best use of their time is in their career being a doctor a dentist a lawyer an engineer where they're making a lot of money in their active income it doesn't really make sense that for them to start a fix flip business or wholesale business or even a syndication business really out of the gate until you figure out what what you want to do it makes more sense to take that active income put it into   passive investment vehicles that don't take any time away from your practice Yeah I love that what' you say there's you you one of three things skills time or money right and so one of those you're going to be trading to generate more passive income or wealth and wherever you're at in the Spectrum and where you're willing to kind of trade for for that invest I love that it's very uh makes a lot of sense so talk a little bit you know I want to get to what you said this in the minute kind of transitioning kind of bluring the line   of going back and forth between passive and active I think this is really interesting I've seen the same Trend but before we get there you know a lot of a lot of our listeners you know that are maybe newer to syndications newer to passive investing they um get a little bit shell shocked when they see a PPM or a set of legal docs to review for a deal and they they don't know what should I be focusing on what should I be looking for what are potential red flags or yellow flags and you know from your perspective and   I'm sure you probably saw a lot of things early on they like okay that's interesting or um you know making that transition you already had a leg up uh given your background but what are some kind of key things that you know maybe even coming into it you already had a leg up but now even 10 years later down the road have learned and things that you said you know hey this is way more important than I thought it was originally from from a pure passive standpoint because I think that's a roadblock for a lot of people yeah yeah   and you know it's intimidating right when you get that first PPM which is going to have exhibits to it and the exhibits are going to be an operating agreement subscription agreement maybe um maybe some marketing materials a business plan things like that you're looking at at least a 100 page document maybe it's 200 pages and if you're not a lawyer and used to looking at 100 page documents that is intimidating you're like what am I supposed to do this is going to take me you know this is like a month's worth reading if I'm actually   going to read this thing and really most past investors don't read it um but you should I mean you should at least start reading them um because it gets it gets easier and easier to read because they're all going to be very similar they're all going to have a similar structure and similar pieces and things to look out for I think one really important thing and you might not be able to do this the first time but you can start um kind of thinking about it but just really matching the PPM to the oper room because the PPM should really   be um kind of a a summary so to speak of the operating agreement because the operating agreement is the meat of what's actually going to be the the terms uh within that LLC within that investment and at the end of the day if something goes wrong or not even goes wrong but if there if there's some sort of um agreement or disagreement that needs to be figured out you're going to look at the operating agreement not necessarily the PPM to figure out uh what the next step is what is the mechanism for fixing this problem so you   know just making sure that the people PM accurately reflects what the operating agreement says is very important and and then taking a step further that the operating agreement and the PPM match what the lead sponsors are telling you let's say in the marketing materials or the webinar like just making sure that there's a clear picture between all the marketing materials the webinar um and the legal documentation is really important and sometimes if it doesn't make sense or there are certain terms   that don't match up you know maybe they're not as meticulous as they should be and you need to look elsewhere that that's a really important thing to look out for um kind of coming back to your question you know when when you're first starting as a passive investor all you're really looking at is the returns right you're comparing kind of your projected returns in this deal to your projected returns in this other deal and you might get a 2% more irr return projected in this one than that one so   you're going to go with this one but at the end of the day those are just projections right those are just projections and those can be manipulated those are based on assumptions from the lead sponsor and those are not the most important things the most important things are the the sponsor and their track record what they've done how they've performed um and you know the market and the deal itself but just those projected returns can be manipulated so that's really you know it's important at the beginning or at   least you think it's important and then later on you become a more um wiy vet in passive investing you'll realize it's not as important as as as some other things like hey are your fees aligned things like that like what are the Voting Rights like how what if something happens and the manager is doing a terrible job how can you possibly get them out like what are those mechanisms um what are the mechanisms for a capital call when things go wrong what what happens those are the those are the more   detailed things and the nuances you need to look at as a past investor rather than just looking at the projected returns that's a lot of lot of good nuggets right there you just listen to that skip back a few minutes and listen to it again because that's really good I think you're so right right if it just it can feel intimidating to look at a 100 page 200 Page document and where do I start but just start at the beginning just start reading it it just got to skim read it skim read it and just the more   you get familiarized with um these different document sets the more they all kind of seem similar over time and you can kind of notice the the things that are common among different deals and then you also kind of notice the things that pop up as oh that's kind of unique or that that's kind of different than what I've seen in other deals and that's maybe outside of the norm um and just kind of getting familiarized with it you're going to pick up a lot on it but I think you hit a few of the sections that I think are really   important that a lot of people kind of glaze over because if you're getting just looking at the here's the irr projection here's where turns are going to be like you said there's uh a lot of assumptions that go into what those numbers are derived from and you know I always come back to my banking background you know risk adjusted returns right because every element of uh every deal you know whatever return you're projecting there's different levels of risk and if you're you know taking a lot more risk in a particular   deal or strategy or structure the same level of return it's it's not Apples to Apples right and so understanding what that is from a deal standpoint but there's also risks uh some of the points you made within the legal structure and so he's saying go straight to the operating agreement as a starting point because that's ultim timately what's going to govern the the deal and the mechanisms for potentially firing the sponsor as a manager or like you said the capital call and the waterfall section understanding how does do   profits flow through the entity and what are the splits between them what are some things that maybe 10 years down the road now invested I don't know how many deals you've invested in passively but you look back you're like oh man you know what I I read that section and you know I kind of knew that maybe was a little outside the norm but I was so excited about the deal didn't really wasn't too concerned about it now looking back like oh man now that was that was a good learning experience because now you know maybe I can't vote   out the manager or you know different things that you would say looking back are more important that maybe you put weight on in the front end and maybe some examples of um you know especially right now I think a lot of a lot of deals that people invested over the past few years you know unfortunately are requiring Capital calls or are kind of headed in a direction that may not be good and um you know maybe it's the fault of the operator maybe it's not but if it is a fault of the operator What mechanisms do you have and what voting   rights do you have as a passive investor and talk a little bit about that because I think that's going to be very relevant especially over the next few years is sure certain older deals are kind of not hitting the projections they thought originally yeah I mean I think I already touched on most of them from a high level but like for instance um voting out the manager like if the manager is doing something um fraudulent or misrepresented what they were doing or you know really just doing a terrible   job is probably not a reason enough to get them out but it could be um if it gets to a certain certain point um but that's really one thing to to look for to see like what the mechanism is like does it take a unanimous Vote or does it take a majority vote or does it take a majority or super majority of each share class each membership class within the LLC so it it and typically they're set up so it's really difficult to get the manager out right because the lead sponsor is going to be the manager and   they're the ones that are going to be making all the decisions and they don't want to lose control so they wanted to make it as hard as possible um and still make it legal um to stay in that seat and not get voted out so you know you will see some pretty onerous um Provisions within the operating agreement to be able to get them out but there should be a reasonable way to do it whether that's a super majority vote perhaps that's that's reasonable so super majority vote um in the event of a misrepresentation fraud you know any   sort of like bad boy act by the the manager or if their bad performance reaches the level of you know negligence or something like that there just needs to be a mechanism to get them out that's that's just one example when you had mentioned Capital calls as well so Capital calls it's like what is the mechanism when the LLC or or the syndication needs additional operating expenses to survive what what is the mechanism to do that like can is the first step to actually do a capital call and is that Capital Call Mandatory   meaning that the investors have to participate um on a proat a basis or that's not typical so if you that's one thing to look out for if it is mandatory that you do and and if you don't then you're basically out or you lose uh you know an unreasonable amount of your Equity if you don't participate then perhaps that's a red flag right like if you don't participate um well I should say the capital call should be optional and if you don't participate that's okay um but you will most likely be watered   down your Equity will get watered down on a prata basis rather than something above a pro basis right so that's an example you're saying of if it's required which is uncommon right that that's that's a red flag potentially um or if you get diluted a higher than the proat mount is another another negative and you're exactly right I mean I think you know part of this is when you're when you're investing passively you're you're giving up control of of operating the deal to the sponsor right is so that that's kind of   the the trade-off is you're hiring experts you're investing with experts that hopefully know what they're doing so that you don't have to be doing the day-to-day stuff and so it can be difficult to replace managers and and uh you know have uh impactful voting rights uh that can change the outcome unless there's fraudulence or negligence but I think it kind of goes to the point too of understanding what these kind of parameters are and what's normal and then also like I think you can pick up a lot of what you're saying and just the   congruence between PPM the operating agreement the the offering memorandum the webinars and um and then really the alignment of Interest right because if ultimately if the sponsor stands to lose alongside the investors if they're not just getting rich just off of fees and you know does they don't have a whole lot of skin in the game then ultimately it might not be you know a great deal but if they have a lot of lot skin in the game and even if it's written in these certain ways it doesn't necessarily mean it's a bad a bad   investment so okay love it get a little bit in the weeds there for for some people and if this is you know um newer to you I I definitely encourage you um to just start this you know opening up the bpms or reading them and you're going to pick up a lot by doing that and then just ask questions right and I think it's a great thing too that if you're reading the PBM and reading operating agreement to ask questions of the sponsor and that's usually pretty indicative of one how well do they know their own documents and to how willing   are they uh to address certain questions that maybe maybe concerns to you right and I think you can actually get a really good sense of um how they and how they respond of of what that interaction is going to be so love that thanks for some of that Insight Seth I'd love to shift a little bit uh you mentioned something earlier I I wanted to come back to is you you kind of you have said before you the future of capital raising is kind of Shifting and evolving and I think a lot of people are realizing and   I've seeing the same thing too right I'm a a coach and you know masterminds for Capital risers and this fun to fund model is becoming very popularized and people that maybe think oh I'm not really a capital Riser or you know that's that's not my you know what I've learned to do went to school to do or whatever or realizing hey actually I've been investing passively for a while I have a pretty great Network because I'm around a lot of accredited investors I've done enough to kind of know a good amount and   I can actually turn this into a business right and so talk a little bit about what the fun to fund model means and maybe someone that's in that boat where what you said is I think I'm gonna go 100% passive but then you know you're also learning a lot along the way and you have a a network that maybe you can activate and also raise capital and get get paid to do it compliantly that's right and and you said it and I'm seeing it time after time where past investors they invest in a number of deals and and   you know folks that are investing in these deals typically have a little bit of money and they probably have friends that have money as well and their their friends start asking them about the deals that they're investing in um and they start thinking hey you know what what can I can I get paid can I have a is there a business here that I can develop that I can build um by bringing in all my friends and family that might also be wealthy might be able to put these These funds together um and invest   in the deal together um you can certainly do that but you start to run into lots of Securities lots of rules and regulations that some people know about and some people don't you'd be surprised uh um that you know you see people out there raising capital in ways that they shouldn't do it um but what's great about the fund of funds model is that you know you're not a what's called a CP so you're not an active partner with the lead sponsor that's kind of the I'll call it the old way and I you know   I've been saying that the CP model is dead just to kind of put it out there that um you know we shouldn't be raising Capital with lead sponsors and then not doing anything else not participating in deal and and having an active role if you're a true cgp you need to have an active role in in the deal and that's kind of what deters um passive investors and doctors and dentists and lawyers and people like that that already have a career they don't want to take an active role right like they don't want to do   the asset management or manage the property manager or talk to tenants or anything like that and that's where the fund of fund solution comes in the fund of fund solution is really creating another syndication or another fund um that invests into the lead sponsor syndication or fund and that's where the name fund of fund comes from now traditionally the issue with that is well it does come with responsibilities for the fund manager they they have to put the deal they have to put their own fund together they have to put their cap   table together open a business banking account form an LLC get a Securities attorney um you know manage their investors manage their distributions do taxes all those sorts of things and so it turns into an active business and on top of that it's expensive because we are creating a second syndication a second fund to invest in that uh lead sponsor Target Fund um so that's the the problem that's always been the solution the fund of fund has always been the right solution but those problems that I   just mentioned are why it hasn't been widely adopted but you're seeing a big shift in the market as we're able to provide a more affordable option and a and a solution to bringing all those different services that a fund manager would normally have to go out and get themselves and putting it into a package yeah that makes a lot of sense and so like we said we're seeing the same thing where people are um they've been investing they they like what they're doing they have their friends and their family asking about the different deals   they're doing and then they have thought well hey I mean that's I can make money doing this and what most people have done historically is cgp model and for those that are unfamiliar with that is basically you raise money directly into the lead sponsor syndication or entity and then you get uh granted certain General partner shares for doing that but and you're the you're the attorney so I'm I'm gonna say at a very high level as I understand it by by doing that you are um uh well you can't raise   money and get paid for it unless you're a registered broker dealer unless you're General partner and uh are continuing to operate the uh the deal the business and have an active role in it but most people that are just raising capital or just want to raise Capital as um you know on the side of what else they're doing that's not a realistic expectation so what what we've seen I'm sure you probably see a lot more than me is these different uh uh folks that are raising capitalist cgps and then you know this   this new SP has about 10 different CPS on the list on the roster here and it's pretty hard to make an argument that they're all actively participated in managing the deal because you just don't need that many people right if it's the same deal and so then you kind of run into compliance risk and you just you don't want to mess with that I mean that's that's just let's leave it there and so the fun of fund model has always been around it's basically you create your own fund and as your own fund manager you're exempt from um uh some of   these uh securities issues to basically raise capital from your investors into your fund then that fund invests into the uh kind of the mothership fund or the the lead sponsors fund and by doing that you um you know it's you're in the in the you're not in the gray area anymore where it can kind of be um maybe not great from a compliance standpoint and the challenge as you mentioned though is it can be expensive maybe it's a little complicated to know how toell up and I'm not really a professional fund manager   how what do I know um but that's that's what you're doing now at triest and we've had Travis Smith on the podcast before so if you haven't listened to that episode um it's probably a year or so ago we'll put the put the link in the show notes because it's a um a great episode talking about tribe vest and what what you guys are doing really trying to from my perspective simplify the access and the kind of backend back office functions of um both for Passive investors and for fund managers to continue to increase   access to more to more deals so talk a little bit about kind of what you guys do at at tribe vest and to kind of help people um you know both from a passive standpoint that's want to direct the investors past investors that don't really want to do it as a business but then also kind of the new fund manager programs that you guys are putting together to help people that want to kind of activate their Network want to you know use this as a way to make money and um do it without having to be an expert in all the the backend side of   things absolutely at at Trio I'm the chief legal officer for tri best I help create the fun to fun product that we have out there right now it makes it simple TurnKey and affordable for anyone to really start a capital raising business um all those things that I mentioned before opening your business bank account um starting your LLC drafting your offering documents um getting your EIN onboarding your investors creating your cap table doing your distributions doing your taxes all those things you normally have to put   together and find different uh platforms and different people like attorneys and CPAs to help you out and put those put the the fund of fund together we do that we put it in a fund of fund we call it a fund of Fund in a box it's really a Lego block that you can use and invest in a deal like with Aspen if Aspen has a fund you can create your own fund you try best bring in your five or 10 uh best friends that want to put in some money you can carve out a piece for yourself so you actually get paid a fee a front   maybe you get paid a fee um during the uh hold period and then perhaps you get a percentage of the equity on the back end so it can be a very lucrative business for someone to get started and because triest makes it so easy to do it meaning put all these different services and things together for you it it really anyone can do it yeah that's so cool and we we've worked with you guys and have seen it in action and you know to say f Fund in a box sounds almost uh trite because it sounds like can you really do   that but it's it's cool because you guys have have solved it and and not only have you solved it but it's also pretty cost- effective right I think one of the big challenges with the fun of fund is generally you can invest if you kind of pull Capital together in a fund you can invest at better terms with a sponsor so you can have a little more margin that you can kind of get paid from and your investors still make the same returns um but if you have a lot of legal costs a lot of ongoing um kind of portal and   back office expenses and tax returns everything else then it gets kind of expensive and eats away at the margins that you know you're hoping to to use to pay yourself so you guys have kind of Crea a really streamlined um kind of off-the-shelf product that can fit majority of of offerings and make it pretty easy right that's right it gets really difficult to make it work that's again the fund of fund like we've talked about it's always been a solution it's just really expensive and really hard to put   it together um especially for someone that that isn't a professional Capital Riser um that just wants to put together $500,000 a million a million5 something like that it it it doesn't even make sense cost wise in the old way of doing it you're going to pay a Securities attorney minimum of like let's say 15,000 maybe 20 maybe $25,000 to put one of these together maybe even more I used to work at a big Law Firm where it cost $75,000 it's crazy the expenses that add up and that's just the legal piece that   doesn't include all the back office administration things that we talked about doesn't include um engaging with a CPA to do your taxes it doesn't include all those things that's just the legal cost by itself and tribe best has made it super inexpensive to be able to do this and to be able to do it time and time again so it works with a $500,000 raise it works with a million dollar raise you don't have to raise $20 million to make it work from an affordability standpoint yeah that makes sense so do   you guys also have like any kind of education or different coursework to help people that are you may want to make the transition of like yeah I think that that sounds like something I could do I my friends are always asking me what what I'm investing in and it wouldn't be that hard to go get five 10 friends to go and invest and create a fund and you know but they just don't they've never done it before they never thought about it till just now so right you guys have I know you're really more given the solution but do you also have   like any kind of education or do you have resources you guys can point people to to learn more about what does it look like to you know what what's what's the process you have to go through to um kind of go from idea to actual uh you know making a fund yeah yeah I'll tell you we don't have any formal legal or sorry formal educational things out there at the moment but we are working on that um but we have made it so simple that we can jump on a zoom call with anyone that that's in is potentially   interested in being a capital raiser and putting together a fund of fun and walk you through a pitch deck and it should be pretty clear what you need to do because we handle basically everything you you put together your investors you put together your terms and how you're going to get paid and then we'll be able to do kind of all that back office all that legal all those things that you don't want to know or don't want to do we handle all it yeah makes sense awesome well kind last question I just   love to get your insights on just the market in general for Alternatives and and private placements and you've obvious been in this space for over a decade and we've been in the space for about 11 years now as as an operator and it just feels I mean it's it's already been the amount of capital that's kind of come into kind of private Equity into real estate into private placements in eneral it's totally shifted the game but it also feels like we're still kind of early Innings right it still feels like   people are just discovering this for the first time and and even the conversation we're having of you know um activating people to raise Capital right in a compliant way that's just an easy way because you guys are creating a system that just reduces friction to continue to increase more Capital to come into the space like do you feel the same thing are you seen I know there's kind of some potential proposed regulation to you know increase the requirements for accreditation and you know there's   always a battle going back and forth on on that but what's kind of your sentiment just at a broader level of just the alternative kind of private placement space in over the next 10 years yeah I mean I'm I'm bullish right like we're we're kind of in a little bit of a lull right now um you'll hear that capital's a little bit harder to come by investors are holding on a little bit tighter um but that's because there's actually deals out there right now I mean said right now is actually a great time to invest right now is a great time   to invest because prices are are depressed a little bit um investors are a little bit reluctant to invest um there are less buyers in the market because a lot of them are getting kind of washed out um but there are some properties coming online through foreclosures through things like that this is where you know when you talk about during good times you're like oh man I cannot wait until there's blood in the streets and I'm going to pounce on it I'm want to pounce on those opportunities that time is right now it   it's not it's not you're you can be waiting on the sideline for years and you're gonna you're gonna miss it it's right now right now is the time to to figure out how to invest how to raise Capital how to do deals how to make them work because right now it's difficult to make them work that's that's the truth of it right now is the time to act and you're going in five years from now for instance you're going to look back to this time and say man I wish I would have got started because we're we're   we're going to be in the upswing again very soon totally no I was just uh I was a one of the guys I follow who's been in real estate for a long time he was talking and reminiscing about he bought uh I think he said three dozen single family homes between uh 2009 and 2011 right and he's held on to them since then and you know looking back he's like the only thing he wishes he did was buy more right because it's but at that point it was you know everything was on sale everyone was like real estate's over and it's it's so hard to   be contrarian I think it's Warren Buffet this said be uh you know fearful when everyone else is greedy and greedy when everyone else is fearful right it it's it's a simple idiom that makes sense but it's really hard to do and right now we're kind of in that that time where investors are reticent there's a lot of pressure on deals right now that's kind of creating a great buy opportunity you know we're seeing I know you're seeing it and uh you know I think I agree with you I think it's a great time to be to   be jumping in right now and uh Seth thanks so much for coming on man what's what's the best way for folks to get a hold of you and learn more about uh your law firm uh raise law and try vest if they want to learn more about what that looks like for sure uh the best place where I keep all my links is Seth Paul bradley.com um you'll have links to try best there links from my uh law firm and social media it's all posted on there okay we'll put that in the show notes and definitely appreciate you coming on   today set it awesome all right Ben appreciate it [Music] [Applause] [Music] man Links from the Show and Guest Info and Links https://www.youtube.com/watch?v=oiRq38II33s&t=1047s https://www.instagram.com/p/C5mNnwsv2fs/  https://aspenfunds.us/private-credit- https://www.investwithaspen.com/free-economic-report https://www.linkedin.com/in/benwfraser/ https://www.linkedin.com/company/aspen-funds/ https://www.instagram.com/aspenfunds/   Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en

In this episode I talk to Rpbert Pavlis about plant potting myths. Robert Pavlis is an author, teacher, master gardener and dedicated myth-buster.PPM calculator mentioned in the show:https://www.gardenmyths.com/fertilize...If you enjoyed this content, please like, share and/or subscribe to my YouTube channel. You can also check out my free audio podcast (https://maritimegardening.com ) where I discuss how to grow healthy food the cheap and easy way!Guess what? I'm now writing an article on gardening every week at https://maritimegardening.substack.com/. Check it out :) Check out my sponsor, Veseys Seeds.Veseys Seeds (www.veseys.com) offers a Promo code (GAVS25) that allows you to get free shipping on all items in their 2025 Seed Catalogue. Free shipping is not applicable on surcharges on larger items. Promo code is valid until November 30, 2025. @veseys #veseys #veseysseeds #growwithveseys www.veseys.comIf you like my content, why not check out my other YouTube channel:"Outdoors on the Cheap". / @outdoorsonthecheap Podcast: https://maritimegardening.comFacebook Page:

Join the Cork Board Cadre by subscribing to the PPM Patreon (as a free or paid member) to access an extended cut of this ep with additional music breaks, the full episode notes, the complete catalog of immortal communoid scientific commentary, and the PPM community on Discord. Immensely grateful for your support:patreon.com/ParaPowerMapping In which Klonny sets out to begin mapping the rapidly consolidating PayPal Mafia Occupied Government and their brand of Palantir Apartheid White Governance (PAWG with South African characteristics lol), endeavoring to compare and contrast domestic deep political conditions with those of GLADIO and the Italian Years of Lead. Consider this the précis or prelims for an even lengthier investigation.Brief note: apologies the show has been in dormant stasis for about the last month. I have been recovering from walking pneumonia over the past three weeks, which majorly hamstrung my productivity, while simultaneously navigating various travels including a handful of days camping in 100 F degree heat while pneumococcal, tech issues (my phone and 5 years of data were completely wiped), and stressors born of pretty significant, prospective life changes that appear to be around the corner. Anyways, no woe is me, just feel I owed you all an explanation. I've stayed busy with my research during that time, but it was hard to manage the recording & editing process for a bit there. I am hopeful that this new episode will mark the beginning of a purple patch. Thank you so much to all of you who have supported the show and my efforts through thick & thin.Songs & Clips:| Peter Thiel & Ross Douthat interview | | Spirit Hz - "OPX" ( friend of the show, https://spirithz.bandcamp.com/ ) | | 2 MN lawmakers shot in apparent targeted incident - officials (ABC) | | Alex Karp - "Defending Democracy" edit (played for comedic & cautionary warning effect) | | Joe Lonsdale on Squawkbox (CNBC) - "Regime Change in Iran" | | US Navy Adm. William H. McRaven raves about Palantir | | Spitting Image - "I've Never Met a Nice South African" | | Spirit Hz - "Promis" | Incomplete reading list for this series (not to mention the texts I've been picking through since we spoke last):Daniele Ganser - NATO's Secret Armies: Operation GLADIO and Terrorism in Western EuropeRichard Cottrell - Gladio, NATO's Dagger at the Heart of Europe: The Pentagon-Nazi-Mafia Terror AxisPaul Williams - Operation Gladio: The Unholy Alliance between the Vatican, the CIA, and the MafiaStuart Christie - Stefano delle Chiaie: Portrait of a Black TerroristMax Chafkin - The Contrarian: Peter Thiel and Silicon Valley's Pursuit of PowerAntony Loewenstein - The Palestine Laboratory: How Israel Exports the Technology of Occupation Around the WorldHenrik Kruger - The Great Heroin Coup: Drugs, Intelligence, & International FascismScott Anderson & Jon Lee Anderson - Inside the League: The Shocking Expose of How Terrorists, Nazis, And Latin American Death Squads have Infiltrated the World Anti-Communist LeagueDavid Yallop - In God's NameMalcolm Harris - Palo AltoPeter Dale Scott - Cocaine PoliticsTim Shorrock - Spies for Hire: The Secret World of Intelligence OutsourcingDavid Alvarez - Spies in the VaticanDouglas Valentine - The Strength of the Pack (if our study of historic GLADIO gets there, a few of these will tie in with the earlier Monkey Morales series, bridging the gap between operatives like Stefano delle Chiaie and strategia della tensione theorist Yves Guerin-Serac slash deadly Aginter Press frontman and the OP 40 Cuban assassin set, Operation Condor, and the deployment of the same counterinsurgent tactics in America's backyard)

Ever wonder what happens when you invest in a syndication? In this episode, hosts Tait Duryea and Ryan Gibson break down how real estate syndications work, from deal sourcing and underwriting to legal docs, fees, and investor returns. Learn how passive investors get access to large-scale deals, what to look for in a sponsor, and what happens after you wire the funds. If you're considering a syndication, this is your essential primer.Show notes:(0:00) Intro(03:11) Why syndications open new doors(05:02) What is a real estate syndication?(07:20) Inside a $102M portfolio deal(09:50) How deals are sourced and vetted(11:38) Fee structures: who gets what(17:13) Key documents: PPM, OA, subscription(23:28) How to title your investment(29:20) Accreditation: requirements and process(37:58) What happens after you invest(42:00) Outro

In this episode, Brian Skrobonja sheds light on the complex and often overwhelming process of managing an estate after the loss of a loved one. This is a step-by-step guide from the initial steps you need to take after a loved one passes, to the intricate details of settling an estate. Brian offers valuable advice and practical tips to navigate this difficult time with grace and efficiency. Having a clearly defined process in place for managing an estate can help avoid the emotional drain of making important decisions through the loss of a loved one. Friends and family may wish well and provide advice on what to do, but without a proper plan in place, that can lead to more financial problems in the future. Setting expectations for yourself and the beneficiaries of the estate is a great first step to help minimize the confusion and questions around how long it will take to settle an estate. This process can take anywhere from two months to several years depending on the type of assets that are owned and the size and complexity of the estate. A funeral home director will often help obtain death certificates, which will be required before making any claims. It's a good idea to request 10 to 12 original documents because, once submitted, you may not get them back. It's important to first locate the deceased's will, trust, or other estate documents they have on file. If none of these exist, you could have difficulty settling a person's estate which will most likely require an attorney to assist you through the probate process. Check to determine if the person may have left a letter of instruction behind as well. A letter of instruction is not a legal document, but it's a letter that can provide more personal intentions and information regarding an estate. The next step is to begin gathering an itemized list of all known financial institutions where money is held and life insurance companies for filing a claim. It's a good idea to put the list together before jumping into making calls because you'll want to keep track of phone conversations and other instructions. Tip: A really good practice is to keep a journal or Excel spreadsheet of all the conversations to keep track of everything. You'll want to avoid writing on the back of envelopes or scrap pieces of paper as that can become really unmanageable. Checks made out to the deceased will require a bank account to deposit them. Avoid closing bank accounts too early because of this. You will have to notify Social Security that a death has occurred as well as any pension provider to have payments stopped and any eligible benefits paid to the estate. If your loved one served in the military, you may be eligible for veterans benefits. You can get more information about these benefits by visiting va.gov. Over the next one to three months, you will want to screen incoming mail, both physical and email, to look for and gather bills, statements, and notices relating to various types of accounts and insurance policies. You will want to review credit card statements to identify subscriptions or other recurring charges to follow up with the service providers about cancellation. Next, notify creditors and credit card companies that were a part of your loved ones credit history. You can notify the big three credit bureaus; Experian, Equifax, and TransUnion, of their passing, which can usually be done online over the phone or by letter. You will also want to locate where they filed important documents to find deeds, titles to real estate, car titles, or lease agreements as well as storage space keys and account records. Look for a computer file or printout with digital account passwords so you can disable any active social media accounts. If the person was still working, contact the human resources office at their place of work to inform them of what has happened, the HR officer may need you to fill out some paperwork pertaining to retirement plans, health benefits and compensation for unused vacation time. If your loved one owned a small business or professional practice, a discussion with business partners and clients may be necessary as well as consulting with the company attorney who has advised the business. If there was a child in college, it may be a good idea to contact the Financial Aid Office to inform them of what has happened. Depending on the school and the financial situation the surviving child may qualify for more assistance. Before rushing into this process, you should consider speaking with a financial advisor and attorney. There are so many areas where you can make expensive mistakes, working with a professional through this difficult time is usually the best decision.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify va.gov     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.   Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.   The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply. The appearances in Kiplinger were obtained through a PR program. The columnist is not affiliated with, nor endorsed by Kiplinger. Kiplinger did not compensate the columnist in any way. Our firm does not offer tax or legal advice. Consult your tax or legal advisor regarding your situation.

Sit back & enjoy this week's episode of the Let Me Mansplain Podcast with Wesley Sniper, Fear Bavaria & K.A.N.E as we speak about:0:00 - Intro04:05 - Can you smash a girl with the same surname as yours? 09:32 - PPM epidemic 23:40 -  Woke women fighting for the right to be hoes30:47 - Lamine Yamal's PPM37:13 - Tyler Perry's PPM51:00 - You will be judged55:40 - Top 51:10:03 -  Father's Day & proxy wars1:21:17 - The US entered the war chat (WWIII)1:44:06 -  Mamelodi Sundowns handed Borussia Dortmund the win1:59:27 - Clipse are gunning for album of the year

Sit back & enjoy this week's episode of the Let Me Mansplain Podcast with Wesley Sniper, Fear Bavaria & K.A.N.E as we speak about:0:00 - Intro04:05 - Can you smash a girl with the same surname as yours? 09:32 - PPM epidemic 23:40 -  Woke women fighting for the right to be hoes30:47 - Lamine Yamal's PPM37:13 - Tyler Perry's PPM51:00 - You will be judged55:40 - Top 51:10:03 -  Father's Day & proxy wars1:21:17 - The US entered the war chat (WWIII)1:44:06 -  Mamelodi Sundowns handed Borussia Dortmund the win1:59:27 - Clipse are gunning for album of the year

This video explains why gardeners should be using PPM, or parts per million, when discussing and using fertilizer, instead of the less accurate teaspoons and tablespoons. Understanding plant nutrients and using PPM will improve your gardening discussions and help you grow healthier plants. Whether you're a seasoned grower or just starting out, understanding the ideal fertilizer PPM ratio can make all the difference in your plant's health and productivity. So, what are you waiting for? Watch now and take your plant game to the next level!

PPM is calling for elecrtion reform after overspending in the election. Truth for Youth school gets another bad rating from OES and more in the news

Fondtorgsnämnden, FTN – Sveriges idag näst yngsta myndighet skapades i spåren av Allra-skandalen och telefonförsäljare av PPM-rådgivning. FTN ansvarar för att välja ut de premiepensionsfonder spararna kan välja på fondtorget. I AP7:s jubileumspodd beskriver FTN:s kanslichef Erik Fransson hur det går till och vad som står i fokus framöver.

Into the middle of grass season—the uber specific, tiny portion of the calendar—the USTA has dropped the event of the year, the all-star Mixed Doubles extravaganza featuring heroes, villains, the inept and the cuties. We break out of our regularly scheduled week off to bring you this important power ranking of PPM (pegs per match), face cards, and sub/dom dynamics that will leave you agog.See omnystudio.com/listener for privacy information.

In this milestone 100th episode of the Common Sense Financial Podcast, host Brian Skrobonja delves into the critical topic of managing taxes in retirement. The episode focuses on strategies for minimizing tax liabilities, especially for retirees with tax-deferred accounts facing potential hefty tax bills. Brian emphasizes the importance of sustainable income creation during retirement and the role of tax optimization in this process. Most people envision their retirement to be built from predominantly tax-free income, but after many years of deferring taxes, retirees are facing a sizable tax bill on distributions taken from their retirement accounts that could be a third or more of what has been accumulated. When you're saving for retirement, growth of your assets is the priority. But many people don't realize that once they retire that's no longer true. The priority is actually creating sustainable income to support you through retirement while minimizing taxes. A common issue I've seen is future retirees knowing they will owe taxes on their deferred accounts, but not realizing the extent of the problem since the rules change once they retire. Many retirees we work with tend to have the same income goals in retirement, yet with fewer deductions. They no longer have children or mortgage interest to help them offset their tax burdens, which makes the situation more complex. Delaying distributions isn't an option either. Required Minimum Distributions will eventually force your hand. There are two tax problems facing retirees: taxes you will have to contend with today, and taxes that you will have to contend with in the future. With the national deficit continuing to rise, do you expect tax rates to go down in the future or go up? The most likely answer is that tax rates are on the rise, so we should be planning accordingly. There are two possibilities to help minimize the level at which you participate in paying your fair share towards the government's future revenue increases. You can either complete a Roth conversion or through tax deferred withdrawals contribute to an overfunded permanent life insurance policy. Making the decision of which strategy to implement is the easy part. The trick really is completing this process with minimal tax liabilities, which requires specialized knowledge. The progressive nature of the code makes understanding your tax burden complicated and miscalculating this could result in having a larger tax liability than anticipated. Depending on your income level, a taxable distribution can subject your Social Security to additional taxes. This is a separate calculation from the income tax brackets and uses a two step process to determine how much of your social security will be subject to taxation. This is important to know because a taxable distribution may not only push you into a higher income tax bracket, but it could trigger additional taxes on your social security, which could result in a higher effective rate. You should also be aware of the impact a taxable distribution can have on Medicare premiums. The impact of any possible premium increase is typically delayed by two years. This is one of those things that often comes as a surprise when people make decisions about distributions. The antidote to taxable income is deductions, credits and losses which can help reduce the net income subject to tax. There are a few options that can help offset the burden of taxes and make the transition from tax-deferred to tax-free easier, but they don't work for everyone, which is why we recommend working with a professional. The first thing is a donor advised fund or DAF. This allows you to contribute future charitable donations into a fund that you control when distributions are made that can also receive the tax benefit of the donation in the year you make the contribution into the fund. By making multiple years of donations in a single year into that fund, you have the potential of helping offset a taxable distribution from your retirement account in that year. The second is a Charitable Remainder Trust (CRT), where you can contribute future charitable donations into the trust and receive the tax benefit of the donation in the year you make the contribution. You can also receive income from the trust while you're living within IRS limits. A CRT is a more complex arrangement than a DAF with many options and requires an attorney to draft the trust. The third is a qualified charitable donation or QCD, which allows for anyone over the age of 70 and a half to make a direct donation from a qualified account to a charity. The fourth is something known as IDCs, or intangible drilling costs, which allows accredited investors to participate in the drilling expenses of an oil and gas company that could provide reportable tax losses that can help offset all forms of income, as well as the potential for cash flow back to the investor once the wells are operational.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify Brian's article - From Tax-Deferred to Tax-Free: Navigating Taxes in Retirement   References for this episode: https://www.usdebtclock.org/ https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 https://www.ssa.gov/benefits/retirement/planner/taxes.html https://www.ssa.gov/benefits/medicare/medicare-premiums.html#anchor5 https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deductions https://www.irs.gov/charities-non-profits/charitable-remainder-trusts https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-100000-in-tax-free-gifts-to-charity https://www.investopedia.com/terms/i/intangible-drilling-costs.asp https://www.crfb.org/blogs/tax-break-down-intangible-drilling-costs     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Investing involves risk, including the potential loss of principal. This is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation. A ROTH Conversion is a taxable event. Consult your tax advisor regarding your situation. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply. Donor Advised Funds represent an irrevocable gift of assets from the donor to the fund. Contributions made to the fund are irrevocable and cannot be returned or used for any other individual or used for any purpose other than grant making to charities. The gift is not an investment or a security. When evaluating a contribution to the fund, carefully consider the terms and conditions, limitations, charges, and expenses. Depending on the tax filing status, DAF contributions may or may not be tax deductible.

“The Magic Circle: Swedenborgian PTK” - a new joint investigation from The Return of the Repressed and ParaPower Mapping.Subscribe to the PPM & The Return of the Repressed Patreons to support our work: patreon.com/ParaPowerMappingpatreon.com/TheReturnOfTheRepressedA multipart series investigating a Swedish ritual murder ring unlike anything you've ever previously encountered. A tale of…Abwehr secret agents, séances clouded with the Witches Sabbath drug henbane, hypnotism, Nazi paramilitaries, Tantric Luciferians, Danish dark ascended masters, Swedish electrical utility giants, American gangster ethos, Dr. Caligari, Dr. Mabuse, Babelsberg movie industry, Prohibition & Depression-era American cultural exports, Swedish bootleggers, astral projection, the OTO, Erik Jan Hanussen, opium, the Hindu goddess of destruction Kali, yoni emblems, Nitzchean “Übermenschen” killers, psych hospitals, military-supplying haberdashers, the British SIS, the Swedish C-byrån (C Bureau Intelligence Service), Swedenborg, telepathy, Hypnotic Breakfast Clubs, Christmas homunculi, anarcho-syndicalists, turncoat Communists, stakeouts, verdant Swedish forest, “From Hell”-esque murder geometry, Theosophy, Baron von Reichenbach and the Od Force, the “specialness” of the bloody fluids, Kumārila Bhatta, kundalini, Hatha Yoga, Tantrism & Advaita Vedanta, Beelzebub, the Theosophical Society, Blavatsky, bucolic visions of psykopomps from Asatron by the lake, farsighted Grandmothers, valkyrior, weapons tests, stakeouts, murder by “Midsommar”-esque carbon dioxide poisoning, heists, car chases, and much more. Tracks & Clips:| Atrium Carceri & Cities Last Broadcast - A Deeper DreamUgasanie - In Antarctic NightAtrium Carceri & Herbst9 - Sov Ej Hos Kvinna, Som Är Kunnig I TrolldomSKÁLD Huldufólk - Herr ManneligBaby Grandmothers - Opus 1： Ascending (1967, Sweden)Ted Gärdestad - Himlen är oskyldigt blå (slowed+reverb)Aki - DynamitDead Melodies - Lonesome Halls of RuinKid cudi - trapped in my mind (slowed + reverb)

Navigating PCS Chaos, Saving Money, and Finding Adventure! PCSing is a constant in military life, often bringing stress, extra costs, and confusion. But it doesn't have to be a nightmare! In this episode, we dive deep into practical tips and strategies to help you survive your next Permanent Change of Station (PCS), save money, and maybe even make it an adventure. We cover everything from getting your paperwork in order to leveraging financial benefits and preparing your family for the journey. In this episode, we discuss key strategies for managing your PCS: Getting Organized & Paperwork: The importance of physical binders and electronic backups for documents. Tips for outprocessing checklists and hand-carrying essential items like orders, Power of Attorneys, birth certificates, passports, and social security cards. Keep vital documents separate from movers. Financially Preparing: The crucial need to start saving cash early for unreimbursed expenses. Access to liquid money helps with stress management and avoiding debt. Cutting expenses is the first step to saving. Understanding Financial Benefits: Dislocation Allowance (DLA): An entitlement can be taken as an advance upfront (not a loan). Rates vary by pay grade and dependents (e.g., O-5 w/ dependents $5,339, E-4 w/ dependents $3,400 in 2025).  PCS Pay Advance: Option for up to one month's base pay, interest-free, paid back over 12 months. A tool for necessary situations, better than high-interest loans. Moving Your Stuff (HHG government move vs. PPM): Options include full government shipment (through TMO) or the Personally Procured Move (PPM). A partial PPM is recommended for conus moves to get paid for weight in your car. A full PPM offers significant profit potential by paying you the government's cost (examples mentioned: Jamie's $14,000 profit in 2023, and potential $10,000 profit in 2025). Challenge misinformation about PPM rules by referencing the JTR. Temporary Living Expenses (TLE) & Temporary Living Allowance (TLA): TLE (CONUS to CONUS, CONUS to OCONUS, or OCONUS to CONUS variants): Max $290/day, limited to 21 days, can be split between old and new PDS. Can be used for M&IE even when staying with family/friends. TLA (OCONUS): Up to 60 days upon arrival, 10 days upon departure. Covers lodging plus M&IE. Reference the JTR due to common misinformation. Prioritize minimizing stress over maximizing per diem. Preparing Your Family: Frame the move as an adventure. Acknowledge feelings (sadness, excitement) for everyone. Involve older kids in packing. Remember it's a team effort. Decluttering: Less stuff makes moving easier, especially with PPM. Reduces mental stress. Try methods like the hanger trick, Marie Kondo ("spark joy"), or the "poop test" for toys. Holding a garage sale can generate extra cash. Smart Travel & Leave: Explore circuitous travel or taking leave en route by getting it on your orders. PCS is a prime opportunity to take leave between assignments. Can take leave before departing or upon arrival. Understand BH timing. Inventory & Support: Video and photograph your belongings for inventory in case of loss or damage. You are not alone. Lean on your support network, friends, family, or sponsor for help. Links Mentioned: DFAS website for TLE details  DTMO website for TLA details Joint Travel Regulations (JTR), Your ultimate (source document) guide for entitlements Kate Horrell's PCS checklists Previous Podcast Episode on the $14k PPM Profit Article about Circuitous Travel  Podcast episode about Circuitous Travel Podcast episode about Legacy Planning for Military Families For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

In this episode, we speak with Lauri Accardi, Founder and Chief Vision Officer of CataPoint Consulting. With over 25 years of experience in technology, Lauri is a trusted expert in program and portfolio management (PPM), agile methodologies, and business transformation. Through her work, she has helped countless organizations streamline operations, optimize processes, and implement agile frameworks that drive measurable results. Join us as Lauri shares her journey into the world of program management and reveals how she became a leader in helping businesses navigate complex transformations. She defines the critical role a strong Program Management Office (PMO) plays, outlines the key pain points that an effective PPM solution can solve, and provides real-world examples of successful transformation initiatives. We also dive into the major shifts she's witnessed in the PPM space over the past two decades and the biggest lessons learned along the way. Lauri offers practical advice for organizations evaluating PPM solutions and sheds light on why change management remains such a persistent challenge. Plus, she shares the most impactful piece of career advice she's ever received—and how it shaped her leadership journey. Don't miss this conversation packed with actionable insights for project leaders, portfolio managers, and anyone looking to drive change in their organization. Contact Lauri via her website. Connect with Lauri on LinkedIn Thanks for listening to the Project Management Paradise Podcast. Don't forget to subscribe, rate, and review our podcast on your favorite platform. Stay tuned for more episodes where we bring you expert advice from industry leaders.

Steph Vetterly discusses how photographing motorcycle trials evolved into a passion for documenting the sport. Steph highlights the work that goes into capturing moments, no matter the weather, and how it's far more complicated than just “pointing the camera”. In addition to being the owner and editor of On The Pegs, Steph is also hired by multiple brands and manufacturers to photograph race teams and the competitions they participate in. Find On The Pegs on Instagram: @onthepegsmagazine Pit Pass Moto will be taking a hiatus. Thank you to all of our listeners for an amazing year! In the meantime, keep up with Clint and Heather online: You can find Clint at @clintesposito and twowheelstofreedom.com You can find Heather at @highgearheather and highgearsuccess.com MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

Estou farto de política, por isso juntei alguns amigos para falar sobre a vida. Bom Partido é uma minissérie de sete conversas com os líderes dos partidos que vão a votos nestas Legislativas. Estreia-se no Domingo, 4 de maio, no YouTube, em parceria com a Fundação Francisco Manuel dos Santos. Também disponível em podcast, em parceria com o Expresso e a Sic Notícias.See omnystudio.com/listener for privacy information.

Estou farto de política, por isso juntei alguns amigos para falar sobre a vida. Bom Partido é uma minissérie de sete conversas com os líderes dos partidos que vão a votos nestas Legislativas. Estreia-se no Domingo, 4 de maio, no YouTube, em parceria com a Fundação Francisco Manuel dos Santos. Também disponível em podcast, em parceria com o Expresso e a Sic Notícias.See omnystudio.com/listener for privacy information.

Estou farto de política, por isso juntei alguns amigos para falar sobre a vida. Bom Partido é uma minissérie de sete conversas com os líderes dos partidos que vão a votos nestas Legislativas. Estreia-se no Domingo, 4 de maio, no YouTube, em parceria com a Fundação Francisco Manuel dos Santos. Também disponível em podcast, em parceria com o Expresso e a Sic Notícias.See omnystudio.com/listener for privacy information.

Rich Oliver joins Heather and Clint this week to share stories from his roadracing career and insights into meticulous preparations that garnered a record of over 71 race wins. Rich also discusses founding the Mystery School, a riding school to give back to the motorcycle community.  Listen to Rich's podcast, the Rich Oliver Show, wherever you get your podcasts! Find Rich online at richoliver.net  Follow Rich Oliver's Mystery School on Instagram: @richoliversmysteryschool MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

Denise Hatch joins Heather and Clint to discuss how cultivating a positive mindset can revolutionize your results and sharpen your decision-making when the pressure is on. Denise is a mindset coach with over 30 years of experience and the founder of Power of the Mind. Follow Power of the Mind on Instagram: @powerofthemind.coach MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

This week, Bradley Adams joins Clint and Heather to commemorate the Gold Wing's 50th anniversary, exploring its rich history, evolution, and enduring legacy! Bradley is the Assistant Manager Powersports & Products, Public Relations at American Honda. Follow Honda Powersports on Instagram: @honda_powersports_us MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

Keith introduces the three types of freedom: time freedom, money freedom, and location freedom, and how real estate investing can provide all three. He is joined by special guest, Loral Langemeier, a global wealth expert, who shares her journey from a $25,000 investment to becoming a millionaire through real estate and mentorship.  Debt is Not Negative: Loral emphasized that debt is simply the cost of money and can be a positive tool when used responsibly. Tax Strategies for Wealth Building: She introduced the "tax trifecta" - understanding how you make money, how to activate tax code deductions, and how to invest in alternatives like real estate to reduce taxes.  Active Engagement and Mentorship: Loral stressed the importance of actively engaging in your wealth-building journey, getting the right mentors, and continuously learning. She believes the difference between those who succeed and those who struggle is their level of active participation and willingness to learn from experts. Resources: Ask questions and make requests at AskLoral.com to receive free tickets, ebooks, and other resources. Show Notes: GetRichEducation.com/549 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching:GREmarketplace.com/Coach Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, it's the first time that we have a certain legacy finance personality on the show. We're talking about how you can cultivate your own personal wealth mindset, how to creatively add value to your real estate and how to put your kids to work for big tax deductions and more. Today on get rich education.    Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, who delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show, guess who? Top Selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Corey Coates  1:12   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:28   Welcome to GRE from the second state of Pennsylvania to the second to last State of Alaska and across 188 nations worldwide. I'm Keith weinholding. You are back for another wealth building week. This is get rich education, and coincidentally, they are the two states where I've lived my life. Every single one of us has a gap in our lives. There is a gap between who you are and who you could be. And today, my guest and I will talk about this some more. Look, there are people who should already be financially free, but they're not. Their residual income could exceed their expenses by now, yet they aren't financially free. It's not because they're lazy, it's not because they're stupid, it's because they're stuck in one of these three traps. Number one, they're working harder instead of smarter. Number two, they're playing small instead of playing to win, which is like paying off low interest rate debt instead of keeping their own money, like I discussed last week, or thirdly, investing in all the wrong things, or not investing at all. And the worst part is that these people don't even realize that they're doing it. Most people aren't even cognizant. They don't have any awareness of the gap. You're not going to make progress on closing a gap that you don't know exists, you've got no chance of hitting a bull's eye when you're aiming at the wrong target. And I think it helps to develop a structure in your life where you have to tell yourself, I better do a good job here, or else. Yeah, it's the or else part that's a motivator. Now, some people won't extrapolate that mantra beyond the workplace. The number one thing that keeps employees showing up at work is fear. They tell themselves, I better show up at work on time, or else, I better do a good job on this project, or else I better give a great sales presentation. Or else. Now that's all well and fine, but to close the gap between who you are and who you could be, tell yourself something on a higher level, like I had better get some residual income outside of work, or else I'm going to stay stuck in a soulless job forever, and I'll never get that time back. So you've got to set up the right for else consequence for yourself. And then, yeah, of course, there are smaller ones like, I better avoid eating kettle chips, or else I'll gain weight. Let's be mindful that there are three types of freedom. You've got three types time freedom, money freedom and location freedom. Real Estate Investing gives you all three. You can make an unlimited income. There's the money freedom part. You can remotely manage your property managers from anywhere. There's your location. Freedom. And since you're not directly responding to your tenant, your property manager is, well, there's your time, freedom, you've got a buffer from emergencies, once you get this dialed in, and it does take a few years, oh, now you've got the time freedom, the money freedom and the location freedom. What do you want to avoid only making a big income? It was recently reported that Wall Street bonuses were way up this past year. Okay, yeah, but how happy are those finance worker Manhattanites who wear an iron pressed button down shirt and a Patagonia vest for 14 hours a day. That's not time freedom for sure, and it isn't location freedom either, unless it's 100% work from anywhere. You know, in my life, I recently got a great reminder of this. It really hit me. I have this close friend. He was the valedictorian of our high school class. I think I brought him up before. He's still a tight friend. I mean, sometimes we go on vacations together. Well, we have a high school class reunion back in Pennsylvania this summer, and among him and our other like, closest group of friends, my tightest guys, I'm always encouraging everyone to, hey, spend at least a week together, because we can't all get together like this that often, and because I have the time freedom to kind of suggest that and even push for that. Well, my valedictorian friend, he is a surgeon in St Louis, and among this tightest knit group of friends, he's the only one that cannot get the week off so that we can all hang out together more after the reunion. Instead, he can only get three or four days. He's got to get back to work as a surgeon in St Louis. Now, I'm sure he's compensated really well, and he doesn't live a bad life, but as a surgeon, you know, it's just become blatantly obvious that he doesn't have either the time freedom or the location freedom. Yet I do as a remote real estate investor, even though it's not something that I studied in college, but my valedictorian surgeon friend, you know, he had a long educational path, you know, undergrad and med school and residency and a ton of training and all these years tied up in his medical education. Therefore, you know, sometimes when people do that, they feel obligated, like that's what they should do, that's what they have to do, because he's already put so much into it. But he only has one of the three types of freedom. And no matter what you went to school for, if you find out about something better, like a great business idea or remote real estate investing, you've got to consider pivoting into that and go into that if it makes sense for you, the world changes. It keeps getting faster, and you've got to change with it. So obtaining financial freedom through real estate helps you deal with an external locus of control issue where life is constantly happening to you, rather than something you can influence. When you're an employee, life happens to you more often than when you're the one pushing the buttons, when you control the three freedoms now, you are narrowing that gap between who you are and who you could be.    I didn't mention it previously. Two weeks ago, I brought you the show from Las Vegas, Nevada, last week, from just outside Colorado Springs. And today I'm here in Anchorage, Alaska, where I'll be for a few weeks before heading to London, England, and then from there, on to Scotland. I plan to visit the former home of the father of economics when I'm in Edinburgh, Scotland, of course, that is Adam Smith, the author of The Wealth of Nations. I might tell you more about that at that time.    Before we bring in our guest this week, a quarter recently ended.  Here is our asset class rundown. The NAR reported that the median sale price of an existing home rose 3.8% year over year in February, marking the 20th straight month that sale prices increased year over year. Mortgage rates fell from 6.9% to 6.6 per Freddie Mac this is all year to date. Q1, the S, p5, 100 was down four and a half percent. The NASDAQ down 10 and a half percent. That's officially correction territory, as those tariff years dominated. The quarter interest rates of all kinds are a little lower yield on the 10 year, Tino falling from 4.6 to 4.2 despite inflation concerns, inflation hovering just under 3% for most of the quarter, Bitcoin down 12% oil is still super cheap, beginning the quarter where it ended near 70 bucks. Gold has been the star performer this year. Are up 17% just in the quarter, and for the first time in history, has searched the over $3,000 an ounce, its best quarter since 1986 in fact, this century, gold has now outperformed the S, p5 100 by two and a half times. Just incredible. There's our asset class rundown. Let's speak with this week's guest.   This week's guest has been a long time, prominent, well known name, perhaps even a household name. She is a global wealth expert, six time New York Times, best selling author, and today, she runs integrated wealth systems and other alternative asset platforms since 1996 she's been involved in multiple areas of finance, mentoring, real estate investment, business development and gas and oil. And much like me, she teaches people her strategies on how to make money, invest money and keep money, but together, you and I can look forward to getting her spin today, and you've seen her seemingly everywhere over time, in the USA Today, The Wall Street Journal, the view Dr Phil in every major legacy network channel, many times she is on a mission to change The conversation about money. She was known as the millionaire maker from back when a million was actually a lot of money. Welcome to GRE Loral Langemeier.   Loral Langemeier  11:31   hey, thank you. It's great to be here. Look forward to talking with your audience,   Keith Weinhold  11:35    Laurel, though we're a real estate investing show and audience here, I think that you and I would agree that wealth building starts in the mind that most valuable six inches of real estate between our ears. What's your take on cultivating a wealthy mindset?   Loral Langemeier  11:50   You got to hang out with millionaires. I said the fastest way to become a millionaire is hang out with them. Is for me. I knew that's what happened. 1996 Bob Proctor introduced me to Robert Kiyosaki, Sharon Lechter, I flew down, sat at her kitchen table. I walked out that day. I flew in as an exercise physiologist for Chevron, building fitness centers in their blue collar like offshore oil rigs, refineries like the sexiest places in the world, Kazakhstan and goal Africa. I went in as an exercise physiologist. I went out the next day as a master distributor with a cash flow game. And I jumped, I quit my job and said, I'm going to go follow this Japanese kind of game around. And I was teased and teased and teased. Keith because, I mean, Rich Dad, Poor Dad didn't really hit until 1998 so sort of this risky proposition. But like with anything you say yes, you figure it out. And I knew people asked me over the time. They said, What would have happened if Rich Dad, Poor Dad didn't hit, if it didn't become as big? I said, we just opened up another door that's such a message for people, their need to see the path of how to do everything before they move is honestly one of their biggest saboteurs. So for mindset, I think mindset also goes with knowledge, because I just know, having taught this, you know, just this whole millionaire hold like a millionaire maker book. And for all your listeners, I can give them a ebook copy of the millionaire maker. So love to give that out to everybody for free. However. You want to do that in the show notes, but becoming a millionaire is the same thing as take like you said, you got to learn to make money. As an entrepreneur, even if you have a job, you've got to learn to make money. You've got to learn to keep it through better tax planning, and you have to invest in alternatives, which is why real estate was my first millionaire status. And I've been a millionaire now in nine industries. So that's kind of exciting new hit nine industries this last year. So done in a lot of different categories. Real Estate was my first in 1999 and during that period, if it wasn't hanging out with Robert Sharon, Keith Cunningham, like Bob Proctor. I mean the guys. I mean when you're living around millionaires, the fastest way to not only get your mindset, but then your behavior and your knowledge levels just skyrockets because you're around I mean people who live it, and they're living it every day. I think those who sit on the bleacher seats, I call it Keith, where they're just watching, reading, but never getting in the game. They're the ones who like they're sitting in the oyster seats, right? They're just watching. They're not actually get on the playing field.   Keith Weinhold  14:09   Sure, it harkens back to the classic Jim Rohn quote, you are the average of the five people that you spend the most time with. Laurel when it comes to mindset, one thing I think about is that every single day, 8.2 billion humans wake up, and every single one of us has this gap between who we are and who we could be, yet most of us make zero progress on this ever present gap. So when it comes to wealth mindset and finances, what can we do?    Loral Langemeier  14:38   You gotta get a mentor and a coach. And I got a mentor and a coach when I was 17, what shifted me and really changed the whole trajectory of my life. I grew up at farm in farm girl in Nebraska, and at 17, I was going off to university, also going to play basketball. And so I went to one of those pre sports seminars, and Dennis Whateley was a speaker. And. And I ran to the front of the stage, and I got the book, Think and Grow Rich, and that I can tell you, a farm girl 17, going like, there's a whole other way to live. So instead of going to school to get a law degree, which is what I went into, which I still think I'd be a heck of a little debater and negotiator, but I do that enough in business now, I got a finance degree, and I just studied. And my first mentor at 17, I walked into a bank, and I remember asking the bank president, will you mentor me? Because rich people put their money here. I need to understand money, because I don't understand it. And I was never really raised in that conversation, which I would say, 99% of the planets that way. And I have taught and traveled this work since, you know, 1999 when I became a millionaire, Keith, I've put this work into six continents, all but Antarctica. So I know it works in principle. Everything we will talk about today works in every continent. The benefit is the United States has the most corporate structure, the best tax structure, the best tax strategist, stack strategies. So even my high net worth international clients end up, typically in Nevada, with a C Corp or some sort of asset company or trust, where then they can buy us real estate, US gas and oil and activate our tax code for them. So we do a lot of really high, high level international strategies. Just because I bent all over to do that, when very blessed to do that, it's interesting, because I think mentoring, you're not going to be taught this. And what drives me crazy when people say, and I'm sure you've heard this a million times on your podcast too, Keith, schools should teach this. No, they shouldn't. Parents, you need to teach it. You need to be more active in your household than your family. And instead of letting Tiktok raise your kids, you need to raise your kids. So I do a lot of work in this category, because my kids are now 18 and 25 raised them a single mom, but legacy work is critical, and that's why I have a game. I have a millionaire maker game. So from the cash flow game, I have a game, and I think the parents have got to put the conversation about money in the household, and they got to monitor like, what they say, you know, don't ever, ever say to a child. Don't ask for it, or, you know, or we can't afford it, because you can afford anything you want if you learn to make money. And I think Keith is part of this. I know we're in a real estate show, but you know, how many people want to be real estate millionaires and never make it? How many people want to do like you said, whatever, the life they're really meant to live? But again, I think they're in I don't think I know their environment, who they hang out with, who they spend time with, what they read there. Are they binging your podcasts and my YouTube channel, or are they binging Netflix and Hulu and watching John like how you feed your mind and what content, how many books you read? I don't care if they're ebooks audiobooks, but you've got to put new content in your brain all the time and be around the people making it happen.   Keith Weinhold  17:41   Oh, that's great. Sure. To change yourself. You got to change your five, change your mentors, change your influencers, and, yeah, be that parent that teaches your children about money, and you don't have to teach that money is a scarce resource. I really just think that's one part of a mindset. That's where most people's mind goes when they think about money. They think about it as a scarce resource for one thing, and it's pretty counterintuitive with the mindset. I mean, if you want to be in the top of 1% you're probably going to be misunderstood and even iconoclastic.   Loral Langemeier  18:13   Yep, I would agree. And you know, another thing with mindset that I think is interesting is, and again, I'm gonna go back to knowledge, about consuming the right knowledge. And on my YouTube channel, which is, you know, Laura Langmuir, The Millionaire maker, it's family friendly. It's for five years old and up. We actually have a YouTube journal, Keith, that we did, where it says, What day did you watch the video? What did you learn? What will you do? And in 365, days, because I'm there every day, here is your this. And that's what I tell parents. I said, get yourself and get your kids a journal and at least one lesson from every recorded, you know, video. So I would say, give me five to 10 minutes a day just for a new piece of content. And the biggest one that is searched on my channel. I want to relate this to real estate is people's mindset and understanding with debt. They have such a negative, negative relationship to debt. And I want to start with this. Debt is the cost of money period. It is not negative. I think it's the most positive thing you could do. And as a real estate investor, arbitraging debt, meaning, if you can get debt for two, 3% or 0% I have over 500 sources, I can get 0% financing for 21,24 months, that's free money that's not hard money, that's not 13% 14,15, that's free. And I would go into a million dollars of 0% debt I have, and I will at the end if I can invest it and make 10,12, 20, 30% so people need to learn, debt is your friend. If you use it in a responsible, organized and educated way, it is absolutely your enemy if you're using it to buy lifestyle crap. So like, debt is such a weird thing. Keith and I don't care how long I've had clients, if they grew up with a lot of debt and a negative impact around money, they can be a millionaire and still have this weird relationship to death. Oh my god, debt, and it's literally. They tremor. It's like it's just money, and there's plenty of it. It's just the cost of it. Or is it being paid to you, or are you paying it out and arbitraging that that range could build. I mean, that alone, if you just learned that strategy and applied it on top of your real estate strategy, would triple, if not 10x your portfolio,   Keith Weinhold  20:19   like we say around here at GRE financially free beats debt free. You understand the difference? So does our audience. A lot of people don't. In fact, trying to retire your debt and slow your progress toward being financially free. I love it. Yep, you know what's funny, Laurel, just like you're coming on this show today, sometimes I'm a guest on other shows, and the way I've started to have the host introduce me to say, Hey, if you want your show to get some attention, say that our guest today, me has millions of dollars in debt, and he has from a young age that attracts attention. They think it's a negative thing. They don't know that my debt is outsourced to tenants. They don't realize a net worth statement. That's only the debt side of the column. We haven't talked about the asset side of the column, so it's really just an example of being paradoxical and iconoclastic. There we move beyond the mindset Laurel. I know you have some really actionable things on how you can help people build wealth quickly. Tell us about that.    Loral Langemeier  21:16   So again, using debt is a massive piece of it. I'll just talk about some of the stories, like when I got into real estate in 1999 real estate in 1999 I lived in Marin, California, Sausalito, specifically right on the water. I shouldn't be on one side, right the San Francisco Bay. And got pregnant at 19 January, 8 was like, Oh, little sticks like, Oh, I'm gonna be my mom. And I knew I'd be a single mom. So I entered parenting as single mom, and I struck that, you know, another check for $25,000 seems to be the number for a real estate mentor that I've been kind of putting off. And I said, Oh, it's time. I said, so right now let's go. I have nine months. And he said, Why do we have nine months? I said, I'm really close to being millionaire, but I gotta hit millionaire status. And I need this much cash flow by my 34th birthday, which was June that year. I said, because in September, I'll be having a baby. And he went, what dropped the phone, and so he said, All right, so I wired him the money, and he said, meet me in Oklahoma City the next day. Yeah, well, there's a ticking clock. Yeah, there was my timeline nine months. But we went straight to the streets. And I think for the for me, I was privileged to be with a whole team, and I don't think I am a massive advocate. If you don't know what you're doing and you haven't done it, why take 100% risk in any industry that you've never played so I only got 15 20% of that run. But here's what I came with. In 1999 I knew how to build a database because Bob Proctor taught me that. So during the cash flow era, I bought my own inventory, took out debt, bought $500,000 of games, put them in my own warehouse so I could collect my own database. So from 96 to 99 I had acquired 18,000 people who had bought Rich Dad, Poor Dad books, cash flow, cash flow, 101202, all his the products, and I had my own financing. So I was doing my own product. I had my own stuff. And all this is a big backstory, because a lot of you in real estate don't have a database. And here's the value I brought to that team that earned me another almost 10, 15% of equity is I brought 18,000 people, and when they saw that, they're like, you could help us raise the money, I said, I don't know to raise money. And they said, we do so again, I bought my way into a team for 25,000 in a mentoring program. There's about 10 of us that met in Oklahoma City, went down to Norman, and within less than a month, we raised $16 million out of that database. They did. I didn't know how to do it again. I sat on the sideline, but highly mentored and guided. So I was on a winning team from the beginning. We bought so much real estate, and then we went into the remodel. And so right then it's like, well, let's own the construction company, so that way we could get better buys. We can buy for the whole street. We can buy for the whole apartment. So we bought we started construction companies. We started being the distributor of the windows and doors in Oklahoma. We did that in Kansas. Now we do flooring as part of the distribution. We've done stoves. I mean, you name it, if you're going to buy it, buy it from yourself, or some way that you get paid extra. And then, like I told you before we went on the show, I would have the property management company. So we would start that, which was then came along with the cleaning companies. Gotta have the cleaning companies, the cleaning crews, the hauling crews. You're gonna pay one 900 got junk, buy your own truck, lease your own truck, haul your own stuff, and then rent it out lease it to others. So when we say cash flow fast in real estate, I went all in. So I own 51% of every property management company, and I put a ad in the paper for an electrician or a plumber, because they were mine most of two expensive things. And so they became partners. And I just made a lot of stuff, quite frankly, but I made it up with a lot of mentoring and guidance, of which those guys are still great, great friends of mine. We still own a little bit of property together. We went to Mexico and did a whole run through Mexico. The team was the most vital part. And what I say to folks in real estate, if you want to go big is you better get a database. I just find key that so many people in real estate don't understand. The Association of having a database, and the way I describe it is, today I might not want to buy, but if you don't have my name, phone number and email, and you don't continue to market to me the day, I am ready to buy or sell, you're no longer on my radar because you're not keeping in touch with me. Your job is an agent, a broker, an investor, I mean, is to build this database of people who then will go along with you on a journey. And I can tell you, it was a very blessed to have done it that way, but that 18,000 is what helped me become a millionaire. Because I had the people. I didn't know what to do with them. I didn't know how to raise my I didn't know anything about a PPM. I knew nothing, but I learned it all, and I was under a very, very successful. You know, decades and decades of success team. So, you know, they were 20,30, years my senior, but boy, I learned. I really leaned into it. And I think people do buy into programs and mentoring communities, but they don't do the work. And I see it all the time, I don't know how many people, and I'm holding up my millionaire maker book, and then this latest one, which is how I made my kids millionaires on paper at 10, again, by using trust real estate. Put them in my real estate company, shareholders,   Keith Weinhold  26:05   make your kids millionaires. Is the title of the book you just held on that second one.   Loral Langemeier  26:10   That one's a 2022, that was my latest best seller, and how I did it with my kids. And again, this back to The Parenting. So I can go a lot of ways, Keith, but I think the do it fast is go wider. I think so many people just go into buying just the asset, and they don't like I'm in the cannabis space right now in Nevada, legal. I'm an illegal cannabis I have licenses and very similar, if you're going to go in and you say seed to sale, you own everything like so I mean, the guy who's running my farm, he owns the label makers. He owns the, I mean, if you name it, he owns the nutrient company, because you need nutrients for the plant you're going to own. You're going to own. So the more you own of what you do and you have to pay, the more you keep your cash flow. And again, I see that mistake with real estate people subbing all the work to so many people. It's like there's so much cash that just went out that could be at least a percent of that could have stayed home with you. Sure   Keith Weinhold  26:59   100% there's an awful lot there. You're a big believer in vertical integration, in bringing in all these levels and stages of construction and management and so on, and bringing them in house. And yeah, it's interesting. You talk about the importance of the team. Here, we talk about how your team, whether that's your property manager, your mortgage loan officer, your 1031 exchange agent, how your team is actually even more important than the property itself. And yeah, when it comes to having a database these names Laurel, it's amazing, in a way, reassuring, in a high tech world with AI, that it still comes down to that primordial human connection of people and who you know you're the listener. As you've listened to Laurel, you could probably tell that she was a star student, which is why she's now a star teacher and mentor so much more when we come back with Laurel Langemeier, this is Get Rich Education. I'm your host. Keith Weinhold.   you know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back, no weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866.   hey, you can get your mortgage loans at the same place where I get mine at Ridge lending group NMLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start Now while it's on your mind at Ridgelendinggroup.com that's Ridgelendinggroup.com.   Hal Elrod  29:43   This is Hal Elrod author of The Miracle Morning and listen to get it rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  30:01   Welcome back to get rich education. We have a well known name in the finance space. For decades, Laurel Langemeier with us. She has done an awful lot of real estate investing in her career, and as you can tell, she's got her own recipe, her own formula. She does things differently, she integrates. She brings things in house. Has multiple companies, and Laurel knows that you can be a profiteer when you serve the customer or the tenant, really, to the maximum amount. A lot of people have a gap there, and there's an opportunity cost. And Laurel, I know that one way you serve people is with Airbnbs in the Ozark region of Arkansas. Tell us about what you're doing there. That's really interesting.   Loral Langemeier  30:41   So we bought pretty big houses, and a few of them we actually the one we were remodeling it, and that's when we really got to know the Ozarks. And there's a lot of tentacles. And so to get, like, from the properties we were buying to where you would rent a boat or a jet ski or get your watercraft, it was all the way around the lake. I mean, that's two lane roads, and it just took forever. And I thought, well, let's so we have another LLC that we bought some boats and jet skis. And again, when you get to know what do people really go to the Ozarks part that we call it the Redneck Riviera. They go to party. They go to party more than they need some bougie house to stay in. That's not what they really come they want to stay on the docks. So instead of putting a lot of money, we said, how can we force Do we have one property has 22 beds, so 22 people can sleep, but they just barely sleep there because they party. So we put more money in rehabs, into the dock, expanding the dock, big sound systems, a big bar, refrigerators, just made it super fun. And then when the tenants come, they don't just rent for the night. We also give them. We'll get your groceries and booze. We'll stock your bar down on the dock if you want. We'll pull up our boats and jet skis. So we had our own small fleet. Again, we just stacked on more service. So when the tenants arrived, a we got, you know, anywhere between depending on the boats and the jet skis and the tubes and all the ropes and everything they wanted, water skis. I mean, whatever they wanted to rent. Basically, we became like a rental company, and everybody freaked out, and they said, Oh my gosh, you're going to get killed in insurance. You're not. I mean, yeah, it's a lot more planning, and it's more work to get all that prepared. But that was anywhere between 500 to 1000 more a night in just the Airbnb. So again, why? If you're going to do one thing, do more for them, the more you serve a client, I don't care what area it is, yeah, the more you serve people, the more money you will make, because they're going to buy it, they're going to have to go get their booze on their own. They're going to have to go get groceries like that's a whole day of getting all that gear to their property versus, let us just save you a day on your holiday and let us do it all for you. There's so many creative ways that you could just serve people, and if you don't know what to do, ask them, What a novel concept. I do surveys all the time, like always doing polling and surveys. Hey, I'm a money expert. What do you want me to talk about? That's what right now, if you really look at a lot of my YouTube and a lot of my social media, people want reduced taxes. So like, I'm doing a heavy, heavy lift, because it was a survey that told me to do it, not just because Laurel decided to do it. And I think so many of you don't realize your audience will tell you what they want and how they want to be served. If you're listening, that's how you make money. And so many people as you know too Keith, that come as the entrepreneur saying, This is what I'm going to teach you. Well, nobody asked, nobody asked for that content. You wonder why it's not working. Is because you're pushing your agenda versus pulling and giving and serving their agenda?   Keith Weinhold  33:23   Well, that is a great point. How do you know what people want? Two words ask them, which is exactly what you're doing there and the way that you're adding value and amenities onto a property there, like with what you're doing with Airbnbs in the Ozarks. It actually brings up a thought for another Jim Rohn quote. Jim Rohn said money is usually attracted, not pursued. Tenants are attracted to your rental units, new luxurious floors, and you'll soon profit when they compete over it.   Loral Langemeier  33:52   Yeah, it's a lot of this stuff. It's not difficult. It's just different. And I use that saying all the time because people are like, Oh my gosh, it's so scary. He said, It's not scary. The only reason why people put fear and risk and that kind of negative energy and words, you know, language around, I think real estate or money or any of that, is the lack of knowledge. Because if they don't know, anything that you don't know is scary, like you and I talked before the show about aliaska. I mean, if you don't know how to ski and you try to go to aliaska, good luck. You would be scared out of your mind. But once you learn, it's exhilarating. And I find out with everything. So anything you approach and just notice the hesitation, is it because you need to learn it then lean in and find the best in class to teach you and like, shortcut your learning curve. You don't have to study for years and years and years and years. Becoming an entrepreneur is a decision right now, today, in two minutes, make a decision, and then get to work on what your offers are. You say, Well, what am I going to offer? People ask them, and they'll tell you what they're going to buy from you, because they're buying stuff all day long in this economy, they are buying and going to continue to buy.   Keith Weinhold  34:56   If you yourself have a question for Laurel, you can always ask. Ask it at Ask loral.com L, O, R, A, L and Laurel, what are some of the more outstanding questions that you get over there, and how do you help them with some of the most important ones?   Loral Langemeier  35:12   I'd say the number the biggest flood of content and questions right now is, how do we reduce taxes? I made up this term called the tax trifecta, because what affects your tax return is how you make your money. If you're just an employee, meaning a w2 like in America, that's what it's called. And Kiyosaki said it best in Rich Dad Poor about there's two tax systems. You're an employee, you're going to get tax pieces. You live on what's left. You're an entrepreneur, and you make money inside of a company. You activate 81,000 pages of tax code, and then you pay tax. So you decide how, where you want to pay tax. I call this living corporate life. So when how you make your money inside, what kind of a company? Right? And then activate the 81,000 pages of code for the deductions. Like I teach my people, they'll never go on a vacation. They're gonna have a business trip. And when you're in real estate, you can go anywhere in the world legally on a business trip, as long as you do what's required to actually make it a business trip by looking at real estate, and it's not that difficult. I mean, the reason I'm in a lot of different businesses is my kids have never been on a vacation. I don't take vacations because they're not deductible. I take business trips. So I teach families how to employ their kids. How to do all of that, like, how do you activate your kids? I mean, when my son was born in 1999 he was employed day one. He had Roth IRA By the second day of his life, and he was funded every day. And he's 25 now, just that one move made him a millionaire, just the one move of maximizing your Roth IRA strategically using it to invest in real estate. So I use a lot of participating notes. I did all sorts of different plays to grow their Roths tax free, tax deferred. So I'm super active about the whole family being in a real estate business. I think real estate is it's the first one I went after, and it's still the first one I tell lots of families. I mean, it's got to be in your portfolio. I still own a lot of commercial real estate, some residential, I said, in the Ozarks, but most of mine went commercial within the last especially COVID, I went all commercial for the most part, besides a few pieces of residential. Back to what do I that tax trifecta, how you make money, how you activate the tax code. And then the biggest one that nobody in financial planners will not tell you about it, your tax, your CPA, won't tell you about it. TurboTax is never going to tell you about it. It's how you invest in alternatives. So real estate, obviously, is a big one. Gas and oil is a massive one. Aviation, water rights, mineral rights, conservation easements, carbon credits, those are the ones that affect your tax, because you get the depreciation schedules. So it's how you make it, how you use deductions and how you invest collectively makes up your tax. And so those are the kind of questions key some category of that, like I told you before the show, I have a new guy that just joined by over $20 million of real estate and only a few LLCs, no S corp, no C Corp, no trust. I'm like, and then you have these ridiculous insurance agents who say insurance will cover it all. You don't need to have an LLC or an S corp RC. You do? You do too. I would never live on just insurance that is such as 1960s conversation, like you guys got to grow up?   Keith Weinhold  38:17   Yeah? Well, you know, totally. And you mentioned Rich Dad, and it's really the Cash Flow Quadrant. And one thing that the Cash Flow Quadrant helps delineate is you touched on it your tax treatment. Tom wheelwright is the most frequent guest that we have ever had here on the show, being the tax guy coming from the rich dad school. And Tom wheelwright was really the first one to inform us that something like 98 to 99% of the tax code is actually a road map for where the deductions are. Only one or 2% of maybe are the tax tables and what you must pay almost all the rest of it, is this roadmap to give you a guaranteed ROI if you follow it, something that you don't usually get in investing. And you brought up a few interesting tax strategies there. I think one of them is how you employ your kids and get deductions that way, while your kids learn. Tell us more about that.   Loral Langemeier  39:11   I mean, when Logan was two, I put him out. He was painting buildings. He was around all sorts of, you know, title companies and closing tables. And then my daughter's same thing. So I take them with me. There's again, part of parenting is they have to be involved in your life. And I think so many parents just leave their kids home. They leave them with the device or their phone or some iPad. None of us have it like if they're gonna sit at a time, you know, a closing table, then I want them if they may not know everything at that moment, but that experience in that environment of just being a natural environment for them to know, to do business deals. It changes them. Changes your kids drastically. And then fast forward, when my kids are 18, they get an LLC for their birthday, and they're added on shareholders in a bigger way, because then I use again the roadmap. Because, you know, well, I always. Laugh, I say, but people read fiction novels and junk whatever. I'm reading the tax code. I think the tax code is the most creative, freeing body of work that has ever been done. It's fascinating. It's so creative. My son's becoming a CPA because of it. So when my son went to school, he was on a football scholarship. He played for Georgia, Southern starting center five years because I'm a single mom and I only make $42,000 I don't even own a phone. I don't own a car. I don't own a home, actually, because it's held in LLC It's an estate property   Keith Weinhold  40:32   I put or on paper or on papers.    Loral Langemeier  40:34   No companies own it all and trust on it all. So I own nothing like I literally live Rockefeller style, and I teach people that this really was beyond the millionaire maker stuff. But my point with the kids is then when he goes to school. So instead of going every Friday to watch him play football, on a Saturday, I went on a business trip to see my son, and he and I actually are looking again. That's in states pro Georgia, where Georgia's other is buying some apartments that we can then back into, and then then we go to the athletic department, and we know how much they will guarantee rent paying scholarship men to live in our apartment, like there are so many cool ways, and that that's how my son will get involved. So during all of my trips to watch him, Yes, I took one hour to watch him play football. Otherwise, I went to see my business partner. So my point is, and when he came home, he had to come home, not to just come home, but he came home to see his business partner happened to be his mom. So there's a way to put your kids into these businesses early and put them through school, have school that can't be written off. And even though he's done a scholarship, all that travel was still not a deduction, unless we structured it as a deduction to the real estate company. There's so many strategies that I honestly, Keith, I made a lot of these up. And I went to, you know, my top tax team, and I said, why can't we do this? I said, I want this to be done. Tell me the legal way to do it, and then they would guide me. So then I just turn around and I teach other people that when you do your own taxes, number one, you're not educated enough to do your own taxes, so why people do Turbo Tax or even H R Block? I mean, that's where kindergarteners play. And if you want to be a millionaire, you have to get experts around the table that really know what they're doing. I mean, a proper tax strategist at the level we have, and I have, like, 28 people on my financial teams that integrate. I mean, they have masters of accounting. So they've gone to school five and six years. They've sat for four exams and had 2000 hours of audit. So whenever, like an engineer or somebody, even a real estate investors, try and do their own taxes, I'm like, it's a highly, highly skilled expertise. So anyway, I could go into the team approach. I don't think Keith, I know so many people are so close to getting it really all right, but their sequence is completely out of order, and they're just at call tax and invisible paying. You're just used to it. You're just used to paying it because you think you have to. And you've been scared by the media that it's this big, scary thing, and the IRS is going to come get you. It's like, no, they're not. This is legal to do all this stuff. You just have to do it right and document it right   Keith Weinhold  42:57   right. And that's part of your team, your tax team, and that's another good ROI. If you pay a tax preparer and strategist 5k which is more than most people, maybe they're making you 10x that or more with their knowledge of the tax code. And for you, the listener that might find the tax code to be dry reading, you know, for a lot of people, you're probably right that it is dry reading. But if you think of it this way, if I act on what I read, then I am getting paid for what I'm reading here in the IRS tax code. Well, Laurel, do you have any just last thoughts, overall, whether that's about wealth, mindset or real estate or anything else, as we're winding down here   Loral Langemeier  43:35   any question ever you just go to ask Laurel, A, S, K, L, O, R, E, L, ask questions. Make a request you can ask about I have online events. You can ask for free tickets. You can ask her ebooks. So ask her whatever you want. We're super generous on giving gifts away to especially our new listeners and new folks. But a lot of it's, I'm going to say it's active engagement. That's a term I've used as I walked into 25 and I look at the people I've made over 10,000 millionaires, probably 12, 14,000 by now. But the difference between those who make it and those who still struggle is active engagement. I'm showing this on your screen just to have it on video, but I got this magic wand because people say I have a magic wand. I said, I do. I naturally now officially have one, and it comes with pixie dust. But it doesn't really matter. It won't work. I can't just, you know, anoint you with my little wand, and all of a sudden it's magically going to change. You have to actively, like you said, study the IRS code, study my books like my millionaire maker is a blueprint for how to be a millionaire. So there's seven families in the book. Pick which one you're closest to and what you've done to yourself, and then start the pattern, and there's a pattern and a sequence for everybody, for seven different kinds of family, and what you've done to yourself. And I also live the last kind of words I would say to people is that I've been doing this way too long. I have no judgment, no criticism about what you did to yourself. A lot of people are ashamed or embarrassed, like I can't believe I'm this old and I should be farther along. So what now? What is my. Saying, so what happened or how you got here? What do you want to do about it now? So we start with a new, fresh line and stand and let's go and you can create anything you want with the right team around you and the right initiative. So just know you'll be actively engaged in this. This isn't me, doing it for you or to you. It's with you, and you have to own it. You have to own your own wealth. Nobody else cares about it more than you.   Keith Weinhold  45:23   these strategies work as long as you do. Laurel, it's been a great mindspring of ideas for the listener here. Thanks so much for coming onto the show.   Loral Langemeier  45:32   Thank you. Appreciate it. Look forward to hearing from many of you and helping you out.   Keith Weinhold  45:35   Oh, yeah, a wide range of expertise from Laurel Langemeier there. And you know, we're talking about the awareness of the gap between who you are and who you want to be earlier. Really, there could be a gap between how you're utilizing your rental property currently and what it could be Laurel found more ways, for example, to serve her short term rental tenants in the Arkansas Ozarks with providing boats and jet skis dockside to her tenants. In fact, there's a book all about this called the gap and the gain. It was published about five years ago, and let me tell you what it's about and maybe save you 10s of hours of reading most people, especially highly ambitious people, are unhappy because of how they measure their progress. We all have an ideal. You have an ideal. I have an ideal. It's a moving target that is always just out of reach. Well, when you measure yourself against that ideal, you're in the gap. However, when you measure yourself against your previous self, you're in the gain measuring your current self versus your former self, that can have enormous psychological benefits. That's how you can feel like you're making progress, and that gives you confidence, and you make more progress. You might have only owned two rental properties last year, and you're going to have four this year. So you want to make that comparison, don't make the comparison that Ken McElroy has 10,000 units and you never will big thanks to the driven and experienced Laurel Langemeier, today, I feel like she has a narrow gap between who she is and who she could be.    There is a lot happening here at GRE in our newsletter called The Don't quit your Daydream letter. I recently let you know about what chat gpts ai updates mean for real estate investors, and I showed you that before and after photo of how you can now tell AI to just renovate your rental unit, and within just a minute, it shows a pre and post renovation, it shows what the renovation would look like. AI is also being used for fraud, like to generate fake receipts or insurance fraud that makes a property look damaged when it really isn't. And every few weeks, I like to send you a good real estate map, like the recent one that I sent you, showing the cost of living by county and how that map was almost like a cheat code on how you can find the best real estate.    Also here at GRE our free coaching is helping connect you with properties. Many of you are interested in BRRRR strategy properties lately, I recently reshot the entire real estate pays five ways course, and I updated it for today's times with today's numbers. I'm giving that away for free, those videos and even giving a free gift at the end of the course, I share those resources with you in the Don't quit your Daydream letter as well.    And then, of course, I sent you details on the Great Investor Summit at sea cruise starting in Miami, sailing the Caribbean June 20 to 29th and how you can have dinner with me and the other faculty, like Robert Kiyosaki, Robert Helms, Peter Schiff, Ken McElroy and more. And this particular cruise event is not cheap to attend, although I don't make any money from the event, but our Don't Quit Your Daydream letter is totally free. I would love to have you as a reader, and you'll stay informed on all these Real Estate Investing Insights and trends and events and more, otherwise, you're really missing out. See, the reason that I write the letter is that I have visual things to show you that I cannot do on an audio medium here, like this, like those real estate maps. And before and after photos. I write the letter myself. You know so many other letters are now AI generated. I write this myself. It is all from me to you. And if you aren't already a reader, you can get the Don't quit your Daydream. Letter free right now, just text text GRE to 66866, and by the way, we don't text you the letter each week. That would be intrusive. The letter is emailed. It's just a convenient way for you to opt in. You can do that while it's on your mind again. Text GRE to 66866, and I'll turn it alternative way to get the letter is to visit get rich education.com/letter that's get rich education.com/letter. I've got a lot more for you next week. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 1  51:01   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  51:25   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text GRE to 66866, while it's on your mind, take a moment to do it right now. Text GRE to 66866.   The preceding program was brought to you by your home for wealth, building, getricheducation.com    

Most people lose money in real estate syndications for one reason: they don't know how to properly vet a deal.In this episode, I sit down with Hans Box to unpack the exact questions savvy investors should ask before wiring funds to a sponsor.Hans is the Co-Founder of Box Wilson Equity, which has invested has invested $95MM+ in equity across various asset classes, including multifamily, self-storage, mobile home parks, distressed debt, office, and preferred equity. And he's personally been involved in the acquisition, investment, and management of over $350MM in multifamily and self-storage assets.Together, we break down how to assess risk, spot red flags in offering documents, and why alignment, transparency, and track record matter more than hype or projected returns.Whether you're considering your first deal or refining your due diligence process, this conversation will help you make smarter, safer investment decisions in the world of syndications. In this episode, you'll learn: 1.) The #1 reason investors lose money in syndications—and how to avoid it by reverse-engineering a deal's risk through the capital stack, pro forma, loan terms, and sensitivity analysis. 2.) Why “projected returns” are a trap—and what smart investors look at instead, including sponsor alignment, track record, deal structure, and the questions that reveal the truth before you wire a dollar. 3.) The hidden red flags most investors miss inside the fine print, from manager replacement clauses to preferred equity terms—and how reading between the lines of the PPM could save you from disaster.Show Notes: LifestyleInvestor.com/233Tax Strategy MasterclassIf you're interested in learning more about Tax Strategy and how YOU can apply 28 of the best, most effective strategies right away, check out our BRAND NEW Tax Strategy Masterclass: www.lifestyleinvestor.com/taxStrategy Session For a limited time, my team is hosting free, personalized consultation calls to learn more about your goals and determine which of our courses or masterminds will get you to the next level. To book your free session, visit LifestyleInvestor.com/consultationThe Lifestyle Investor InsiderJoin The Lifestyle Investor Insider, our brand new AI - curated newsletter - FREE for all podcast listeners for a limited time: www.lifestyleinvestor.com/insiderRate & ReviewIf you enjoyed today's episode of The Lifestyle Investor, hit the subscribe button on Apple Podcasts, Spotify, or wherever you listen, so future episodes are automatically downloaded directly to your device. You can also help by providing an honest rating & review.Connect with Justin DonaldFacebookYouTubeInstagramLinkedInTwitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Kyleigh Stallings shares her experiences as the team captain for the FIM Oceania Women's Motocross Cup in Australia, detailing the unique race format, camaraderie among her teammates, and the intense competition. Kylie also discusses her journey in transition from girls' classes to the women's motocross class, and her aspirations to grow the WMX series. Find Kyleigh on Instagram: @kstallings213 MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

The CCP and and PPM discuss the PRe-Election Economic and Financial Update report. Also,nominations are open for the Kings Honour 2026 and more in the news.

The People's Progressive Movement, the PPM released its manifesto over the weekend.A murder trial begins to wind down.The R3 Cayman Foundation is set to host a symposium on governance standards for non-profit organizations in the CI.#RCNEWS #RADIOCAYMAN #CAYMANISLANDS

What is the difference between a normal seedling and one that is leggy? What can you do about leggy seedlings and how do you prevent them?The "Purple" GMO tomato: https://youtu.be/KGWEZ7HxTEMMy Baggy Method: https://youtu.be/dirz0WIMQi0&list=PLq7hmpP9i05Ska3k7gaBCvNCT9gN_tYajHow to calculate 100 PPM fertilizer: https://www.gardenmyths.com/calculating-the-ppm-of-nitrogen-in-your-fertilizer/What is the DLI: https://www.gardenmyths.com/calculating-the-ppm-of-nitrogen-in-your-fertilizer/What causes leggy seedlings - detailed review: https://youtu.be/Z46Yu91Mx_k&list=PLq7hmpP9i05Ska3k7gaBCvNCT9gN_tYajHow good are budget LED lights: https://youtu.be/TpGYstZi33k?list=PLq7hmpP9i05SBRl-RNoBeUw6dkdS3tVVAMetryGrow LED Light, 100 W: https://amzn.to/3XJbEDiThis is an affiliate link.

John continues his conversation with former MLB player and manager Clint Hurdle. The two talk about Clint's new book, Hurdle-isms: Wit and Wisdom from a Lifetime in Baseball, his journey from battling alcoholism to sobriety and rebuilding his life, the lessons that helped him through tough times, and how his wife's support made a big difference. In Part 1, Clint talked about how he got into baseball, his transition to managing, what it was like chasing his dream, and the ups and downs of his career.   Listen to this episode to learn more: [00:00] - Clint's battle with alcoholism and journey to sobriety [00:35] - Why Clint wrote the book Hurdle-isms [05:56] - Compliments on his book [08:37] - How faith became central to Clint's life [10:01] - When his wife challenged him to find his own happiness [13:27] - Clint's definition of success [14:13] - Top habits that helped Clint succeed in baseball and life [17:41] - Best advice Clint ever received [19:21] - What Clint hopes his legacy is [21:50] - Best way to connect with Clint [24:28] - Clint's belief in vulnerability, authenticity, and transparency [26:22] - How Clint invests in his growth [28:22] - Always buy two copies of a book BOOKS MENTIONED: Tuesdays with Morrie by Mitch Albom (https://a.co/d/dJdbHLt) The One Truth: Elevate Your Mind, Unlock Your Power, Heal Your Soul by Jon Gordon (https://a.co/d/gplaTux) The Power of Moments: Why Certain Experiences Have Extraordinary Impact by Chip and Dan Heath (https://a.co/d/42gW689) TV SHOWS MENTIONED: Tulsa King (https://www.paramountplus.com/shows/tulsa-king/?ftag=PPM-18-10cab4e) Landman (https://www.paramountplus.com/shows/landman/?ftag=PPM-18-10cab4e) NOTABLE QUOTES: “Addiction is addiction, no matter what it is.” “Until you can find a way to make yourself happy, you will never, ever be able to make me happy.” “It's not a number. It's not a letter. It's the self-understanding and satisfaction that you've prepared to the best of your ability.” “Life is not fair. What you do with the ‘not fair' part is going to define you as a person.” “What you do with the ‘not fair' part is going to define you as a person. How do you deal with adversity? How do you deal with failure, deal with hurt, with harm?” “Success is just doing the best possible job you can with what you've been given, with where you are.” “I used Jesus as an ATM card for 23 years ... until I started to work on myself.” “Look for the helpers. They're the ones that get up and get moving and try to provide support, a hug, or an ear. They're not barking orders. They're not telling people what they gotta do. They're there to serve.” USEFUL RESOURCES: https://www.clinthurdle.com/ https://linktr.ee/clinthurdle https://www.linkedin.com/in/clinthurdle13/ https://www.instagram.com/clint.hurdle13/ https://www.facebook.com/profile.php?id=61555483677175 https://x.com/ClintHurdle13?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor Hurdle-isms: Wit and Wisdom from a Lifetime in Baseball - https://a.co/d/6mBDvHI CONNECT WITH JOHN Website - https://iamjohnhulen.com    Instagram - https://www.instagram.com/johnhulen    Facebook - https://www.facebook.com/johnhulen    X - https://x.com/johnhulen    LinkedIn - https://www.linkedin.com/in/johnhulen    YouTube - https://www.youtube.com/channel/UCLX_NchE8lisC4NL2GciIWA    EPISODE CREDITS Intro and Outro music provided by Jeff Scheetz - https://jeffscheetz.com/ 

Jose Gaspar joins Clint and Heather to discuss the evolution of judging in FMX as well as the future of electric motorcycles and innovations in judging sports. Jose is the host of the Inside the Heats podcast and Zev News Moto, as well as a commentator for Sportv. Find Jose on Instagram: @gasparfmx Find Inside the Heats at insidetheheats.com Find Zev News Moto at zev.news MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

Annick Magac joins Heather and Clint to discuss the inspiration behind her podcast, FÉROCE, and her unique approach to finding guests and stories to tell. The three also discuss the importance of community and maintaining a lighthearted, fun perspective in motorcycling. You can listen to FÉROCE on all major podcast platforms! Watch video episodes of FÉROCE on Youtube! Find Annick on Instagram at @annickmagac MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

Jason Tino, an off-road racer with the Flat Rock Motor Club GasGas Factory Race Team, joins us this week to discuss the inaugural Talladega GNCC race, the challenges of transitioning from the 250A class to XC2 class, as well as his experience representing the U.S. at the ISDE in 2024. Follow Jason on Instagram at @jasontino41 MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

eastvillageradio.com, brianturnershow.comANGEL'IN HEAVY SYRUP - Live KFJC - V/A: Live From the Devil's Triangle Vol. 1 (KFJC, 1998)PETER HAMMILL - (On Tuesday's She Used to Do) Yoga - Over (Charisma, 1977)FUZZHEAD - Pablo Picasso - Fuzzhead Is Love (cs, 1990)SHIT AND SHINE - Kercheim - Mannheim HBF (12XU, 2025)COSIMO DAMIANO - They Are Still Weaving 3 - Multi-Species (BC, 2025)TAKAAT - Amindinin - Is Noise Vol. 1 (Purplish, 2025)MIRANDA SPATULA & NOWHERE FLOWER - Around and About You - Around and About You (cs, PPM, 2025)WAYLON THORNTON - Monica Meteor - Screwballs Hip Folly (cs, Floating Skull, 2025)LOS PIRAÑAS -  Con Mi Burrito Sabanero Voy Directo al Matadero - Una Oportunidad Más de Triunfar en la Vida (Glitterbeat, 2025)ALVARO - Mum's Milk (Not Powder) - Mum's Milk (Not Powder) (Squeaky Shoes, 1979)MASK - In and Out - V/A: Disk Musik: A DD. Records Compilation (Phantom Limb, 2025)THE CIRCUIT - Loudspeaker - V/A: Pay It All Back Vol. 1 (On-U Sound, 1985)1127 - 154361282719 (BC, 2025)THE VIBRATORS - Into the Future - 7" (Epic, 1977)AMERICAN MUSCLE - Best Band In Detroit - Demo (NL, 2024)CULTURE SHOCK - Crumble - Culture Shock (Youth Attack, 2025)HAMMERSMITH GORILLAS - Shame Shame Shame - 7" (Chiswick, 1974)SAYF - J.A.H. - لِمن شرّدو (Corrupt Territories, 2024)CHALKY WONG - Regular Rappers (ft. SEBii) - Regular Rappers (Eastern Margins, 2025)IVOR CUTLER - Men / Trouble Trouble / I Love You / Vein Girl / Five Wise Saws - Dandruff (Virgin, 1974)IL BALLETTO DI BRONZO - Secondo Incontro - Ys (Polydor, 1972)CELINE ARNAULD - Fragments of Automatic Variable - Superstructure (cs, Mahorca, 2025)HELLFISH - A Word From Your Leader - A Word From Your Leader (Deathchant, 2024)CATS MOVING TO FLORIDANURSE WITH WOUND - I Was No Longer His Dominant - Automating Vol. 1 (United Dairies, 1986)SHAPOVAL SEXTET - Povernennia - Kobzareva Duma, 1976 (Shukai, 2020)

“The Magic Circle: Swedenborgian PTK” - a new joint investigation from The Return of the Repressed and ParaPower Mapping.Subscribe to the PPM & The Return of the Repressed Patreons to support our work: patreon.com/ParaPowerMappingpatreon.com/TheReturnOfTheRepressedA multipart series investigating a Swedish ritual murder ring unlike anything you've ever previously encountered. A tale of…Abwehr secret agents, séances clouded with the Witches Sabbath drug henbane, hypnotism, Nazi paramilitaries, Tantric Luciferians, Danish dark ascended masters, Swedish electrical utility giants, American gangster ethos, Dr. Caligari, Dr. Mabuse, Babelsberg movie industry, Prohibition & Depression-era American cultural exports, Swedish bootleggers, astral projection, the OTO, Erik Jan Hanussen, opium, the Hindu goddess of destruction Kali, yoni emblems, Nitzchean “Übermenschen” killers, psych hospitals, military-supplying haberdashers, the British SIS, the Swedish C-byrån (C Bureau Intelligence Service), Swedenborg, telepathy, Hypnotic Breakfast Clubs, Christmas homunculi, anarcho-syndicalists, turncoat Communists, stakeouts, verdant Swedish forest, “From Hell”-esque murder geometry, Theosophy, Baron von Reichenbach and the Od Force, the “specialness” of the bloody fluids, Kumārila Bhatta, kundalini, Hatha Yoga, Tantrism & Advaita Vedanta, Beelzebub, the Theosophical Society, Blavatsky, bucolic visions of psykopomps from Asatron by the lake, farsighted Grandmothers, valkyrior, weapons tests, stakeouts, murder by “Midsommar”-esque carbon dioxide poisoning, heists, car chases, and much more.  Tracks & Clips:| "From Hell" Excerpts (Read by Marcus) || Pugh Rogefeldt - “Haru Sett Mej Va” | | Hypnosmord - “B: Världen sover" (The Thurneman Improvisations) | | Bob Lawrence with Paul Whiteman and His Orchestra - “Annanina” |

This week, Kenny Yoho joins Heather and Clint to share his journey from being a professional racer and freestyle motocross performer to being the owner of the I4MX racing series. The three discuss the evolution of I4MX and the significance of teaching and coaching riders. Find more information about the I4MX schedule at https://i4mx.com/ and find Kenny on Instagram at @kennyyohoi4mx  MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

Moto journalist Lewis Phillips joins Clint and Heather this week! In addition to a discussion about the evolution of his career, Lewis shares his perspective on the differences in sport media dynamics between Europe and the U.S., as well as the importance of transparency and professionalism in rider-media interactions. Find Lewis on Instagram @_lewisphillips , on X/Twitter @LewisPhillips71, and his work with VitalMX. MotoAmerica is the OFFICIAL Sponsor of Pit Pass Moto This episode is brought to you by MotoAmerica, home of AMA Superbike racing and North America's premier motorcycle road racing series. Revisit all the season's action with the Moto America Live+ video-on-demand streaming service. Or visit the Moto America YouTube Channel for race highlights and behind-the-scenes video content. Look for the 2025 race schedule over on the motoamerica.com website, and be sure to follow MotoAmerica on social media for real-time series updates and original content. Get your PPM swag at our Pit Pass Moto online store! Pit Pass Moto is a production of Evergreen Podcasts.

Our guests today are Audra Dunleavy, Vice President and Partner of Natural Path Silver Wings. and Dr. Chris Terrell, a Naturopathic Doctor, Registered Dietitian Nutritionist, and Certified Strength & Conditioning Specialist. When it comes to colloidal silver, the term “parts per million” (PPM) refers to its strength. A higher PPM is your advantage with atomic silver, whereas lower PPM limitations are ionic silver. This blog will accurately clarify the ENTIRE colloidal silver PPM breakdown which include; 1) what PPM means, 2) how it relates to colloidal silver, 3) the two types of colloidal silver, 4) higher PPM and lower PPM difference, 5) small particle size, 6) why PPM matters in colloidal silver, 7) usage guideline and 8) why PPM matters. Understanding PPM: The Role of Parts Per Million in Colloidal Silver When searching PPM, many articles neglect one foremost major factor- the important distinction that there are two types of colloidal silver on the market: atomic and ionic. Understanding PPM related to each of these two specific silver types is paramount because PPM is essential for anyone pursuing colloidal silver for immune support or topical skin applications.* What is PPM? Parts per million is a unit of measurement that expresses the concentration of one substance in a million parts of another. In simpler terms, it's a way to quantify how much of a particular substance is present in a solution. For example, a solution with a concentration of 1 PPM means that there is one part of the solute (in this case, silver) for every million parts of the solvent (purified water).   Colloidal Silver: What You Need to Know Colloidal silver, in atomic form, is a natural elemental mineral consisting of tiny silver particles suspended in liquid. It's been used globally for many generations as an effective immune support. Colloidal silver is safe to use as long as it's from a reputable manufacturer that is independent lab certified and made in an FDA registered facility. Colloidal silver can be taken direct orally via dropper or spray bottles because it has virtually no taste. Others prefer mixing it in a favorite beverage. Whichever is your preference, colloidal silver liquid is generally recommended for ages 4 years and older. Silver also has a long history of amazing topical skin usage. There is numerous worldwide literature about a variety of silver supporting skin health. Silver is also used for purification purposes.     Two Types of Colloidal Silver- Atomic & Ionic Ionic colloidal silver is electrically processed and has a clear liquid appearance because it has only between 10 PPM to 30 PPM silver which is much weaker and thus requires many more doses leading to “dosing fatigue” and becomes more costly. Ionic formulas typically can NOT increase their PPM strength beyond 10 PPM to 20 PPM because particles would then clump together more quickly due to missing an electron and rendering it unstable and unsafe. Atomic colloidal silver (recommended) is unadulterated and NOT electrically processed. It consists of full silver atoms and has an amber liquid color as nature intended. Due to its stability at higher concentrations, it's safe to dose at higher parts per million (PPM) which gives you strong immune support. If you prefer lower PPM doses, atomic colloidal silver gives you the flexibility to simply take fewer doses which makes it much more economical on your wallet since the bottle will last you longer.

In this informative podcast episode, Bryan from HVAC School is joined by Louise Keller, the National Training Manager for UEI Test Instruments, to discuss the critical importance of carbon monoxide safety and proper combustion analysis. The conversation begins with lighthearted banter about the previous night's Tactical Awards ceremony before diving into the serious topic of CO dangers and detection. Louise shares valuable insights about the dangers of carbon monoxide exposure, particularly at lower levels that might not trigger standard home CO alarms. She explains that CO poisoning can mimic many other conditions, including early-onset Alzheimer's, traumatic brain injury, and mobility issues. Bryan adds historical context by recounting how many Victorian-era "ghost stories" and fainting episodes coincided with the introduction of gas lighting in homes, suggesting these phenomena were likely CO poisoning symptoms. He also shares the little-known story of Walt Disney's parents, who tragically died from carbon monoxide poisoning in a house that Disney built for them. The discussion shifts to practical applications, with Louise explaining the proper use of combustion analyzers and the importance of regular recertification. They emphasize that visual inspection alone is not sufficient for safety, and proper testing is essential for both client safety and equipment efficiency. The conversation concludes with information about UEI's ServicePlus Guaranteed program, which offers extended warranty coverage, same-day recertification turnaround, transparent pricing, and convenient shipping for analyzers. Key Topics Covered: The dangers of carbon monoxide as an odorless, colorless, and tasteless gas How low-level CO exposure can cause serious health issues that mimic other conditions The limitations of standard home CO alarms, which typically won't trigger until reaching 70 PPM for 1-4 hours Proper combustion analyzer startup procedures (starting outside in fresh air) The importance of checking all combustion appliances in a home (furnaces, water heaters, ovens, etc.) Best practices for comprehensive testing, including "appliance sweep tests" Historical context of CO poisoning, including connections to Victorian ghost stories UEI's ServicePlus Guaranteed program for analyzer recertification and warranty extension The importance of regular recertification to ensure accurate readings and maintain warranty coverage Tips for helping clients schedule regular maintenance and safety checks   Have a question that you want us to answer on the podcast? Submit your questions at https://www.speakpipe.com/hvacschool. Purchase your tickets or learn more about the 6th Annual HVACR Training Symposium at https://hvacrschool.com/symposium. Subscribe to our podcast on your iPhone or Android. Subscribe to our YouTube channel. Check out our handy calculators here or on the HVAC School Mobile App for Apple and Android

We dive into the “battle of the PPM” (Private Placement Memorandum) with two special guests from opposite sides of the table. On the GP side, securities attorney Mauricio Rauld (Platinum Legal) explains how these legal documents protect operators and outline deal structures. Representing the LP perspective, experienced investor Jeremy Roll highlights how to spot red flags, interpret complex provisions, and ensure you're comfortable with all the “fine print” before signing on the dotted line. Learn why the Operating Agreement is the ultimate governing document, what to look for in capital call clauses, how indemnification can affect your returns, and why consistent reporting is not always guaranteed. If you've ever been unsure how to read a PPM or wondered if you can negotiate its terms, this lively debate breaks it all down in real-world terms. Today's Episode Takeaways How a PPM differs from the Operating Agreement and why both matter How LPs can interpret or negotiate tricky clauses like cash calls and preferred returns Indemnification pitfalls: when a GP is personally protected vs. on the hook Common oversights that cause confusion about reporting obligations and voting rights Why a mismatch between the pitch deck and legal docs is a serious warning sign Don't forget to subscribe and leave a review so you never miss out on more deep dives into passive investing strategies, market insights, and more! Take our Survey: PassivePockets.com/Survey Disclaimer The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast. Contact Us jimpfeifer@biggerpockets.com

“The Magic Circle: Swedenborgian PTK” - a new joint investigation from The Return of the Repressed and ParaPower Mapping.Subscribe to the PPM & The Return of the Repressed Patreons to support our work: patreon.com/ParaPowerMappingpatreon.com/TheReturnOfTheRepressedA multipart series investigating a Swedish ritual murder ring unlike anything you've ever previously encountered. A tale of…Abwehr secret agents, séances clouded with the Witches Sabbath drug henbane, hypnotism, Nazi paramilitaries, Tantric Luciferians, Danish dark ascended masters, Swedish electrical utility giants, American gangster ethos, Dr. Caligari, Dr. Mabuse, Babelsberg movie industry, Prohibition & Depression-era American cultural exports, Swedish bootleggers, astral projection, the OTO, Erik Jan Hanussen, opium, the Hindu goddess of destruction Kali, yoni emblems, Nitzchean “Übermenschen” killers, psych hospitals, military-supplying haberdashers, the British SIS, the Swedish C-byrån (C Bureau Intelligence Service), Swedenborg, telepathy, Hypnotic Breakfast Clubs, Christmas homunculi, anarcho-syndicalists, turncoat Communists, stakeouts, verdant Swedish forest, “From Hell”-esque murder geometry, Theosophy, Baron von Reichenbach and the Od Force, the “specialness” of the bloody fluids, Kumārila Bhatta, kundalini, Hatha Yoga, Tantrism & Advaita Vedanta, Beelzebub, the Theosophical Society, Blavatsky, bucolic visions of psykopomps from Asatron by the lake, farsighted Grandmothers, valkyrior, weapons tests, stakeouts, murder by “Midsommar”-esque carbon dioxide poisoning, heists, car chases, and much more. Tracks & Clips:| Pugh Rogefeldt - “Haru Sett Mej Va” | | Hypnosmord - “B: Världen sover" (The Thurneman Improvisations) | | Bob Lawrence with Paul Whiteman and His Orchestra - “Annanina” |

In this episode I interview Macho Grams Gramsbe Savage. He is a fellow content creator with nearly 2,000 subscribers, and he grows both organically and synthetically and that's what we're gonna talk about in today's episode. The medium, feedings, pH, PPM and more, will be compared. Macho reveals several things that he does in his garden, when growing both ways, to get better plant growth.Support the show