Passive Investor Tips After 50+ LP Investments feat. Travis Watts

I'm a dollar cost average person, and I fully recognize that a bull market usually is 8 to 12 years to get to the top, and then it's 2 to 3 years going down. The majority of the time, the market's actually in your favor, and if there's ever a great time to jump in, it's during times like this where valuations are down. You have to remember that when prices come down, risk comes down. When prices go up, risk goes up.

Dollar cost averaging is a great principle and rule that works all the time. If you just get into the market a couple years ago and you have a couple deals that are underperforming or not doing well. You can't let that scare you.

Early on, I saw some deals that I thought were going to be exceptional. They were going to outperform all the others. They seemed like no-brainer killer deals. So I went really heavy and they turned out to be some of the worst deals I've ever done.

Hello, future billionaires. Welcome back to another episode of the Invest Like a Billionaire podcast. Got a really fun episode for you today. So I brought on Travis Watts. I've known him for a long time, really great resource in the kind of passive investor community and syndication and real estate world. He is a former host of the Best Ever Real Estate Podcast, which you've probably seen or heard of, and he ran a whole segment for passive investors and just released a book called Passive Investor Tips. He's been an investor for over 10 years as a passive investor and has invested over 50 different syndications. So he shares all of his knowledge and learnings from things that got well, that didn't go well, and just some really helpful perspective and knowledge for passive investors, especially newer passive investors that have started investing in these types of investments more recently. Really great to hear from Travis and hear about where he sees opportunity right now in 2024. You don't want to miss this episode. Be sure to give it a listen. If you are enjoying the podcast, I would appreciate your support by leaving a review, rating it on the platform of your choice, share with a friend, etc. Appreciate you all. Enjoy.

This is the Invest Like a Billionaire podcast, where we uncover the alternative investments 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.

Welcome back to another show. The Invest Like a Billionaire podcast got a really exciting guest. Really glad we could get Travis Watts on today. I know Travis for actually a long time, and I kind of consider him one of the OGs in the private syndication space. He's been a full-time limited partner investor since 2015, I believe it is, and He's also the current director of investor development over at Ashcroft Capital, which we have a lot of high regard for and want to bring him on because he actually recently wrote a book called Passive Investor Tips. And, you know, what's been so interesting is I've had a lot of conversations with investors recently of people that have been newer to the syndication space. They've only been investing for the past few years and we Been really at the top of the cycle the past few years. We kind of hit a downturn here and things are challenging in a lot of ways. But I wanted to bring Travis on to really give us some broader perspective. And he's been investing, I think you said 50 deals you've invested in separately. So huge range of expertise. I'm going to shut up. Travis, welcome to the show, man.

Good to see you again, Ben. Thanks for having me.

Yeah, well, give us a little bit of background for those that aren't familiar with you or Ashcroft or kind of how you even got into the space. 2015 is probably, you know, early innings in a lot of ways of the kind of syndication world of what we know of it now.

Yeah, totally. Yeah. Just to clarify that point. So 2015 was when I actually made a pivot in my real estate investing strategy to become a full-time passive income investor. In other words, a limited partner who's investing in other people's deals. So the 6.5 years prior to that and starting in 2009, I did single-family homes, fix and flips, vacation rentals, having roommates, you know, all kinds of different stuff with, with small residential. So that's kind of how it came to be. Got started like most people in real estate. It was two mentors that I ran into out in Colorado that had sold their businesses and become became full-time limited partners, which I had no idea what a limited partner was, what a general partner was, what, what private equity was, what syndications were. Right. This was all new to me in 2014, '15. And they really inspired me to take a different approach to really scale up my portfolio, to be able to scale passive income, tax advantages, equity upside, wealth building potential without sacrificing more of my time. Which back then I used to work in the oil and gas industry, believe it or not, and 14-hour days, 98-hour work weeks working in Saudi Arabia. It was crazy times and it was really hard to, you know, hone down on a single-family portfolio and be effective. I was outsourcing more and more. My profits started to shrink. I began to realize the market was helping me more than anything. It wasn't— I wasn't as special as maybe I thought. So that's kind of been the journey. One of the groups I've been investing with or started investing with pretty early on was Ashcroft Capital with Joe Fairless. So in 2019, Ashcroft was really taking off. They had some great momentum going, still do today. But, you know, it was Joe Fairless out there trying to be marketing and GP and capital raiser and podcaster and all. And I'm like, look, man, I respect you guys, love your deals, love what you're doing, but like, you got to get some help. You know, you need more people on your team. So I saw it as a win-win. I could leverage their network and, you know, their video editors and their outreach, and I could help other people and get this message out. At the same time, I could fill some of those voids for Joe, take a lot off his plate with podcasts, webinars, marketing, etc. So 2019, jumped on board with them. Been there ever since. Done 3 or 4 different roles with the company. And my passion at the end of the day is just simply helping other people understand syndications, private placement, commercial real estate, and more specifically, multifamily apartment investing.

Love it. Well, yeah, thanks for the background there. So talk a little bit about your investing journey, right? So you start out in 2015 not knowing what a syndication or a GP/LP structure was. And started investing there. So talk about the evolution of you as an investor and, you know, maybe things, lessons you've learned along the way that things you may do differently now.

Sure. The first thing that really piqued my interest was that I could have, you know, my, my initial goal way back when, 2009, '10, '11, was like, keep scaling up single-family homes. And then one day I'm in my 60s and I have 100 single-family homes and I'm retired and I'm this like passive landlord or something. I don't know, it's a little bit of a naive dream, you know, 20 homes in and I'm like, man, I'm feeling the burnout. I don't see this being a scalable model. So when I got into the syndication space, it was exactly what I was looking for. It was a way to be literally a hands-off investor, have true professionals find the deals, negotiate the deals, you know, raise the capital, get all the paperwork done, the legalities covered, the K-1 tax forms, all this kind of stuff so that I could, you know, have, say, 100 LP investments rather than 100 single-family homes. So for a lot of people, they're not necessarily like me where they're going to be a full-time limited partner and that's all they're going to do. They're usually a blend and a hybrid of like maybe you got a couple single-family homes, maybe you've done a few flips, maybe you got some vacation rentals. But you're going to use syndications to help scale up your portfolio and your passive income. So, so much has changed. To answer your question, by the way, I started by not knowing what I, you know, I didn't know what I didn't know. And I could admit that even back then. And so I hyper-diversified. I started putting these like small minimum investments among all these different operators out in the space. To see how this was going to work out. And then over time, I could get a better feel for the communication, the transparency. Are they really going to under-promise and over-deliver? And so in recent years, I've really honed it in to maybe my top 5 operators, so to speak, and I'm doubling down with those groups these days. And so it's a, it's a bit of a front-loaded business. You got to start with the education, you got to start with the networking, you got to find these people. You got to, you know, take some action, get some money rolling out there, and then it just gets easier and easier and easier. Like anything, the more you do it, repetition is key and so on.

Yeah, that seems to be a common pattern I've seen from a lot of people I've talked with. And, you know, to kind of get comfortable investing in these syndications, you know, the natural thing and the smart thing is to diversify. So you take smaller bets with a broader set of sample size and you reduce your risk. But down the road you can kind of create unintended consequences of a tax nightmare if you're trying to pick different K-1s and yeah, some are way better than others and getting those out on time and all the challenges that go with just monitoring how it's going. And as you as you improve your education, understand what the things are that, one, your goals are as an investor, and two, what makes a good operator. You don't have to rely on overdiversification as a proxy for, you know, making good investment decisions or due diligence, right? Because you, you've learned that. So, you know, what are the things that you've learned for someone that is kind of just getting newer to the space? Or more specifically, like, I see a lot of people that got into the syndication world in 2021, 2022 because they're seeing all these deals being sold at, you know, 30% IRRs, 50% IRRs. And they're like, man, it's just, you just, you know, fog a mirror and you're making so much money in multifamily syndications. And fast forward to today, you know, middle of 2024, Things are not so rosy. We have a lot of challenges in multifamily, but of course real estate in general. Yeah. And a lot of it was from the buying frenzy the past few years with, with bad or poorly structured debt. So for those people, right, where they have a limited perspective and they kind of got it at the wrong time, let's just be honest. Right. And some of those deals just might not work out. There might either be capital calls or for capital losses, that can be painful. But how do you have broader perspective and what are the things that can be learned from this experience that you've kind of come to see full circle here?

Yeah, you know, for me anyway, it had everything to do with data and research and of course the mentors I discussed earlier who had been doing this about 20 years. So one of the first things I asked them when I was first learning about this stuff was, Well, tell me about 2008, 9, and 10. You know, did you lose everything? What happened? So it really helped to gain real perspective from real people that really were doing this stuff. In addition, you know, there's reports that exist out there, the Harvard studies and all these different case studies about events like that. Now we've gone through 2020. Now we've gone through this interest rate cycle. I was as much of a buyer in '21 as I am this year in '24. I'm not a person that pretends to know how to time markets. Everybody that seems to try to predict that is usually wrong, including myself. So I'm a dollar cost average person and I fully recognize that, you know, again, looking at data and history, a bull market usually is, you know, 8 to 12 years to get to the top and then it's 2 to 3 years going down. So the point is, the majority of the time, the market's actually in your favor. And if there's ever a great time to jump in, it's during times like this where valuations are down. You have to remember that when prices come down, risk comes down. When prices go up, risk goes up. And I'll be the first to admit, in '21, I was skeptical. You had the stock market hitting all-time highs, you had real estate hitting all-time highs, you had crypto hitting all-time highs, and in a hurry. And again, if you go back to data and history and you look at times like 2006 and '07, very similar stuff. Maybe not in regard to crypto, but you had the stock market and real estate ripping and roaring, right? This crazy euphoric state. And then boom, 2008. Doesn't mean it's going to happen every time exactly like that. But again, dollar cost average. I'm going to be buying the peaks. I'm going to be buying the dips. I'm going to be buying in the middle. I'm looking for that average long-term return. And so while it may not be plausible over the last couple of years to, let's say, double your money in 3 years like we were seeing in years prior, there is a good potential right now to get a hefty discount. And as we look at forward-looking data, valuations are set to increase again. Interest rates are looking to come down, cap rates are looking to compress. So there's some really great things on the horizon in addition to supply and demand dynamics. You know, meanwhile, Everyone talks about the scary headlines and all this massive supply that's hitting the market. And it is. And that's real. And no one's denying that. But guess what? Builders are also pulling out of the market and have been over the last 2 years. Materials went up, wages went up. It's just not a great time, generally speaking, for developers, at least the last 2 years. So new starts and permits are 40%, 50% down from where they were at the peak. So you got to think about Where does this put you if you're investing today and you're going to pick up a commercial asset at a 25% discount relative to 2021 pricing and interest rates are projected to come down and cap rates are projected to come down and there's this huge demand out there. The National Multifamily Housing Council has come out to say this year we need to build 4.3 million more apartment units between now and 2035. To satisfy demand. And let's not also forget that we have the largest gap in U.S. history between a new mortgage payment and apartment rents, nearly $1,000 per month, depending on the data you look at, in some cases even more. And we have to remember as homeowners, for those listening who are, that payment's the minimum you're going to pay as a homeowner. Let's not discount HOAs and special assessments, property tax. Higher insurance costs, you know, rehabbing, maintenance. There's a lot of other fees that go along with homeownership. So it just makes a great case for both why to invest in rentals right now, but why it might be, you know, applicable to be a renter, which I've chosen to do too throughout my career. I was a homeowner, then I was a renter. I was a homeowner, then I was a renter, then I was a homeowner. It just, you know, there's different cycles and phases and markets. So you have to evaluate what makes the most sense at each given time in the given market that you happen to live in.

Yeah, I think that's so smart. And, you know, dollar cost averaging is, is a, a great principle and rule that works all the time. Right. And so if you can kind of layer in at different points of the cycle, capital over time is going to smooth out those, those, those dips and going to help. And so, yeah, if you just get into the market a couple of years ago and you have a couple deals that are underperforming or not doing well, you can't let that scare you. You can't let that be, "Oh man, this was all a hoax. This is throw the baby out with the bathwater." It's opportunity, right? Because in a lot of markets, values have reset 15%, 20%, 25%. And we're seeing deals right now that they're basically being purchased at the the current bank's payoff balance, which is a 25%, 30% discount, all of a sudden numbers look really good when you, when you buy right. Right. And even in a market like this where now I believe there is still a lot of upside over the next few years. So where are you seeing opportunity? And as an investor who's now been through, you know, a pretty substantial cycle here, What's your perspective on— are you investing more in 2024 than you were last year? Are you kind of— is your approach just— it's kind of a similar approach every year and I can't time the market, so I'm just going to let the market do what it does and I'll just be disciplined in how I invest in it.

Yeah, it's a great question. It's relatively consistent because I've learned a couple of lessons along the way. The first is that early on I saw some deals that I thought were going to be exceptional. They were going to outperform all the others. They seemed like no-brainer killer deals. So I went really heavy and they turned out to be some of the worst deals I've ever done. And so I learned a lesson from that, right? And then again, this came from a mentor of mine with a, with a net worth of probably $80 to maybe $100 million. And he's like, Travis, I never put more than $100,000 into any deal, period. And I'm like, sounds like an accounting nightmare to me. But, you know, he had a lot of logic with that. And those deals I'm referring to, by the way, they actually weren't real estate deals. They were private equity deals that were supposed to cash flow like 20% a year. And turns out one was a Ponzi scheme and the other stopped distribution. So they were some of my worst performing deals. So where I had put maybe, you know, $175K, $200K into stuff like that, and then $25 or $50 million into a real estate deal, it really kind of skewed the balance of my portfolio. So I try to stay consistent with it. I'll give your listeners a practical example of like, you know, what we're actually seeing right now in this market. We're closing a deal in Orlando that's a Class A property built in 2021 at a $97 million purchase price and a 5.5 cap. That deal would have traded in '21 at about a 3 cap and maybe $130 to $140 million. So these are the kind of discounts that are existing and it's a way to kind of scale up the quality in your portfolio, whether you're a GP or an LP compared to '21 where if we went out to some brokers, said, look, you know, we got $97 million to put to work, we would have bought like a 1985 property that was a value-add, you know, Class B stuff. So It's just that's the kind of opportunity that's going to be very short-lived. We're already seeing institutions jump in. You're already seeing Blackstone put billions of dollars to work and you're seeing JPMorgan Chase with a joint venture and you're seeing Jeff Bezos back a real estate company buying up residential, you know, across the US. You're starting to see billions and billions come in because of these discounts. Everybody knows the fundamentals are there. The demand is there. The necessity of apartments is there. It's just a capital market shift because of interest rates which have brought cap rates up, which have brought valuations down. So I don't know how long this, this window of opportunity is going to be. It's gotten really tough to raise capital because of what you mentioned earlier, capital calls. We've seen some foreclosures in the industry, pause distributions. Reduce distributions. A lot of this stuff had to do with floating rate debt. It had to do with, hey, we're going to buy all-time high pricing, all-time low debt, and we're going to put 3-year debt on it. And now that 3-year debt is coming due from '21, and it's like, okay, we got to exchange a loan of $80 million at 3% to 7.5%, $80 million loan. It just eats up profits in addition to higher insurance and property tax and everything else. So that's why we're seeing some of that stuff. I'm not someone who's immune to it. I'm— I've been part of capital calls this year and last year. I've been part of these paused distributions. But to your point earlier, it's kind of like someone who says, I'm going all in on the stock market in January of 2020, I'm putting everything in, and then boom, 2 months later you're 30% down and you're like, screw the stock market, I'm never investing again. Well, you need a little broader lens, right? Because things do recover and they're starting to recover in commercial right now.

Yeah. And I think to some of the data points you mentioned, there's so much long-term fundamental support for housing and for multifamily specifically, you know, especially in certain markets where there's population growth and job growth. And, you know, the challenges right now are usually related to that point of maturing debt, right? Because right now when everything is probably all the forces are working against you with higher interest rates, with higher insurance costs, with slower absorption because of higher supply, now would be the worst possible time to sell. You have to sell. But if, if your lender is, you know, not willing to work with you or you're behind on your payments or whatever, maybe forced to. And so we are seeing some of those discounts. But what I think is interesting, I think you alluded to this, and are probably in agreement is that, you know, to whatever degree we do see a recession, quote unquote, in commercial real estate, I don't think it's going to be very deep. I don't think it's going to be very long because of the amount of capital that is sitting on the sidelines. It is already jumping in, which it still feels like, hey, it's still a downward trajectory, but we may be bottoming out here soon. Man, one example, I just saw an article on the front page of the Journal. KKR just jumped in in a huge way. They bought a multibillion-dollar multifamily portfolio and their, their thesis is, hey, we've got long-term capital, we're patient, we don't have any, you know, short-term thesis on this. We just know over time it's going to go up. And, you know, we've done some of the analysis on just housing in general, more specifically kind of single-family, but housing in general, it's the most highly correlated asset class that we could find to inflation that there is. Right. And if we're continue to be in a higher inflation environment for the next few years, that's going to flow through to owners of assets, especially those of housing assets. And it's difficult right now to feel— to go write a check when it feels like other deals maybe not performing up to expectations. But I really believe those that are writing checks this year will be massively rewarded relative to what, you know, the deals that were done a few years ago because of the discounts and because, you know, when it is harder to form capital, when it's harder to raise money and to buy deals, that's usually the better time to buy, right? When there's blood on the streets and there's fear in the market, that's usually the right time to buy. So It sounds like you're kind of thinking the same thing. Would you agree? Would you disagree with any of those points?

100% agree. And here's another perspective for your listeners. Think about it this way. I'm a big advocate for looking at where's the opportunity right now, right? That changes and evolves. So you got a stock market that's hitting nearly all-time highs. Not quite. You've got crypto almost all-time highs again, you know, And then you have single-family homes hitting all-time highs, and then you have commercial real estate 25% off. It to me, it's a little bit of a no-brainer. So I've been writing this report now for 2 years called the Market Insights Report on behalf of Ashcroft Capital, completely free for anybody to download. AshcroftCapital.com, click on news. And what I do is this is not like my opinion, okay? What this is, is I go through as many data sources of reputable national data sources that I can gather from CoStar to CBRE to Marcus Millichap to Urban Land Institute to the U.S. Census to the U-Haul statistics. I mean, you name it. And I put it all together in about 15 pages. And it's mostly just visuals and graphs with a little bit of commentary to explain what it is and why it's important. And it just gives you a logical perspective of where we're at right now. To your point, did we already bottom? Are we at the bottom? Are we nearing a bottom? You can kind of read between the lines and figure that out. And while I don't pretend to have perfect timing and that's not what this report is intended to do, it does give you a lot of clarity instead of clicking on some of the clickbait headlines that says, you know, commercial real estate's a disaster and it's going to be terrible. And then when you really get to the bottom of it, A, it's not that bad to your point, and B, they're usually talking about maybe office space or some other sector or a specific niche or a specific market like San Francisco or whatever it may be. So this gives you a national perspective on what's really happening.

100%. I mean, it's so important. I say this all the time to get beyond the headlines, right? The news. Yeah. They're incentivized to get you to click on the articles. So they're going to say things that are hyperbolic, that are extreme and usually negative because that's what gets the most clicks. And it doesn't always relate to the data. The data is many times the opposite of what they're saying if you're looking at the right data sources. So I love that you're doing that and definitely encourage people to go, go get on that email list to, to get that data and just get the sources of these, you know, actual real reports that are coming out in real time that are showing what's actually happening. Because in some ways, like, you can't time the market, but it's— there are better times than others to buy, right? We all know that. And in real estate, you make money on the buy. That's what everyone knows. And I think, you know, it's— yeah, maybe there's still a little bit further to go. You know, maybe inflation, you know, has a second wind and goes back up again and interest rates are higher for even a little bit longer than people want. But, at a certain point, it changes. At a certain point, the tides turn and the capital that's been waiting for a long time comes back to the market and, you know, creates a hot market again. So yeah, I love those insights, Travis. And, you know, I'd love to kind of zoom out a little bit here as we kind of wrap up the interview. You, I think you said for 3 years, did a really cool segment on the Best Ever podcast, which is, you know, one of the biggest podcasts in our space here. And I've recently kind of wrapped that up. But you wrote a book called Passive Investor Tips, kind of summing up a lot of the experience and thoughts and interviews that you had on that, on that segment. You know, give us a couple of nuggets to leave with for those that are LPs. Aside from the ones you already gave, which is, which is awesome. And just that broader perspective, what are some of the things you want to leave people with that you wrote about in the book and We'll link to it in the show notes as well to let people get their hands on it.

Yeah, kind of a fun story to share. So upon, you know, joining Joe Fairless at Ashcroft— Joe Fairless is also the founder of Best Ever Commercial Real Estate and the Best Ever podcast, the Best Ever conference, you know, and book and all these different things. So one of my things was I was like, Joe, and I did it completely for free. I was like, I want to be a host on your show. So we kind of like morphed this. I'm not taking credit for this business design, but it was like Joe was doing everything. It's the longest daily running real estate podcast in the world. He's doing all the interviews. I'm like, man, you got to zoom out and put your attention in other places. So he starts pulling in hosts. So think of it kind of like, like a platform that's like The Tonight Show. So he starts bringing in various hosts that are going to come and go. I was grateful to be one of them, and I have my own segment every single week. And the first segment was called the Actively Passive Investing Show. And it was me and a co-host. And then I went solo with it and I did Passive Investor Tips. So all in all, it was about a 5-year run. And Passive Investor Tips was solely based on feedback from our listeners on that specific segment and what they liked and didn't like about the previous series. So I'm like, okay, some of the feedback was, we love it when you do short and right-to-the-point episodes, no fluff. Just tell us what it is, why it's important, and how we implement it. So I did a whole 100-episode series on it. And when I concluded, I retired from Best Ever earlier this year. I concluded with the book Passive Investor Tips. Now, this is kind of the fun part. So when you go to get a book deal or go through a publisher, most, most cases, you know, to get a book made, even though you may only have, you know, a few key points that you really want to drive home, they're going to encourage you to write this 3, 4, 500-page book. And so that's been one of my pain points my whole life because I'm a big a big reader, and I hate spending that much time reading a book where at the end of it I'm like, okay, so I learned 3 things. So I was like, all right, I'm doing this book my way through Joe under the Best Ever Publishing, which he published his book under. And I'm like, no fluff, like 2 to 3 page chapters, right to the point, 150 pages. You can literally read it in a day or two. That's what I want, and that's what I was able to create. So Passive Investor Tips launched around April, May of this year. It's on Amazon and very proud of that. I'm donating all the proceeds back to the Best Ever community. It's been a great platform that's really helped me and made a lot of connections in my life. So if you want to support others in the education in this space, I encourage you to check that book out.

Give us just one or two little nuggets from it and we'll leave the rest for those that Yeah, so a couple.

So it's a combination. It was never intended to be a book. Let me start with that. So it's not one that you have to read from page 1 to page 150, you know, consecutively. It jumps around with tips, tricks, strategies, formulas, case studies, personal stories, stories of our investors, you know, without naming their names. And so it's things like the Rule of 72 and how you can double money without having to worry so much about appreciation on things. And it even relates to things outside of real estate. You could do this with a stock that's paying you this, you know, 7, 8% dividend every single year. How many years is it going to take to double your money just through the cash flow? And even if the price of that REIT drops, you don't have to care because you're building wealth through cash flow and through passive income. It's got a really big emphasis on passive income and, you know, some of the long-lasting rules of the trade, if you will, you know, investing in asset classes with 100-year track records, what the 1% are doing, what the wealthy do. It's got a lot of compare and contrast. So, I don't want to give too much away. It's a great book. Very proud of doing it and appreciate anybody's support with that.

Awesome. Well, Travis, what's the best way for folks to connect with you and just kind of what you're doing and learn more about?

Yeah, sure. I created a landing page in hopes of kind of capturing as much as possible minus the book we mentioned. So it's ashcroftcapital.com/travis. I've got my calendar link there. I put that out to the world. I have done this for years. I don't care who you are, you know, young, old, experienced, inexperienced, accredited, non-accredited. Interested in Ashcroft or not, I'm happy to have a 15-minute call with anybody to be a free mentor in the space. I've got financial trackers, passive income trackers. I've got that news report that I mentioned, the Market Insights Report. So AshcroftCapital.com/Travis. Social media @PassiveInvestorTips, Instagram and Facebook, or Travis Watts on any other platform.

Love it. Travis, thanks so much, man. This is really fun. Love your insights. You're definitely very, very valuable resource for people to learn from. So I'm sure listeners got a lot out of it. Definitely go connect with Travis. It's a pretty big offer you just, you just gave there to connect. So with that, thanks so much for coming on, Travis. Really fun, man.

Thanks, Ben. Thanks, everybody.

This is the Invest Like a Billionaire podcast where we uncover the alternative investments 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.