Meet Justin Donald, The Warren Buffet of Lifestyle Investing and Passive Income

Recording. There it is. And so here we are. This is my good friend Justin Donald. I'm going to give you a little backgrounder before we officially get the show on the road.

By the way, one of the things. Oh, and I gotta make sure that that's muted. Sorry. This is my good friend Justin Donald. Give me a moment here before we officially get the show on the road. There. Now we're going to. All right, here we go. I met Justin Donald on a trip to Fiji a few years back, and we. We liked each other right away. We're just hanging out, having some adult beverages. And finally I said, so what exactly do you do? And he said, well, I'm a cash flow investor. I'm like, what's that? And he just told me a bunch of stuff. And finally he basically just said, I make enough passive income so I don't have to work anymore. And I'm like, hmm, tell me more. And from there, we developed a relationship that eventually turned into the creation of the lifestyle investor brand. And Justin's career just taking off like crazy. It was absurd. In fact, his book became a Wall Street Journal bestseller. I'm going to be giving away four copies today on this webinar. And also we're going to be giving away a copy of Justin's $495 passive investing program. But as I've watched Justin's career develop, his podcast has taken off. He has access to practically anyone he wants access to in the financial world. And the most important thing is he's a good guy who puts his family first, his values first, and lives exactly what you'd read about in his book, which is giving himself. And he's a remarkable mind when it comes to how do you structure a deal so you don't lose money, so you get big upside, and you don't just get the standard equity first, but you, in fact, can generate passive income with a whole bunch of other benefits. So I'm going to quit talking about them other than to say, Justin, I've looked forward to this for a long time. It's great to have you here, my friend.

Well, thanks, Mike. I'm excited to be here. So many kind words. I'm going to do my best to live up to an ounce of what you said. But, yeah, it's been really fun. You know, the way that our friendship has blossomed and the way that you've helped me unlock some cool things that were, you know, kind of a little more cerebral for me. You know, there's a lot that was up here but didn't translate out. And so it's been fun just, you know, obviously bouncing ideas off you. But, you know, the. The old adage of one plus one equals three, I think was really true as we combine forces and, yeah, it's just been a lot of fun. I value you and our friendship and so much of the time that we spent together.

Yeah. I'm looking forward to having you at the Mastermind in Austin as well. And for everyone who's watching right now, I don't know why, but our chat is inactive. So you can submit questions and talk to Justin and I in Q and A. Make sure you use that. And team, if you would periodically paste that into chat just so folks know to do that. I'm going to get the show on the road, first of all, by asking you this simple question, which is before we created lifestyle investing, that whole category, and before anyone knew what lifestyle investing is, by your definition, what exactly is lifestyle investing? And how did he get started in this game in the first place?

Yeah, great question. You know, I think some people in their mind maybe have this idea of what lifestyle investing is. And for those that don't have a lot of clarity around it, I'd love to share just, you know, you know, the. My overall goal in building my lifestyle was to invest in a way that complemented or gave access to the lifestyle that I truly wanted. So I've been in the place where I, you know, have had my own business, and, well, better said, my business has owned me.

All right?

I've been in business where I have been the business owner. I've been in business where the business owned me. Um, I've been, you know, busier than I could ever know what to do with. And that, just for me, wasn't a compelling way to live life. I wanted to be intentional. I wanted to, you know, pick what life really should look like, not just a default. You know, I feel like most people are a slave to something. They're a slave to the job that they have or to security and safety or to the business they built. And this one, this one's the biggest irony. I know so many entrepreneurs that left the corporate world to start their own business because they wanted freedom and autonomy, only to get into a bigger kind of rat race or hamster wheel, if you will, where, you know, it's.

It's.

They didn't buy more freedom. They actually bought, like, more of a stringent, you know, I guess, harness, if you will. And I just didn't want that. I wanted to pivot I wanted to buy assets that produce the income that allowed me to live the life that I wanted to live. And as I did that and saw what it did for my family and being able to choose family first and business second, that just, it was so fulfilling that I wanted to be able to help other people to do that same thing.

Right on. And I'm going to just kind of give this away. What I found very captivating is when I asked you about this, you know, your first stop was, okay, I need to figure out, because your wife is making 65 grand a year, how can I make $65,000 in passive income so my wife can quit her job? And then how can I make $150,000 a year to replace my job?

And that's really where freedom begins. And look, you and I know a lot of entrepreneurs who make a lot of money. And I have no passive income. And I'm embarrassed to say I was for years, until I really got to know you and meet you, that I fell in that same category. Great income earner, very bad in terms of passive income. Now I have plenty of assets and no liquidity. And that really gets us to deals. So part of what I'm going to ask you today and I'm going to get into is.

To describe some of your favorite and recent deals and how they're structured. And some of this is going to revolve around your ten Commandments. So again, just to frame this a little bit, Justin has this book, the Lifestyle Investor. In fact, one of the things that I'm going to do right now, I got to see if I can push a poll. I have to see where in the hell they are. Ah, polls and quizzes. So I'm going to launch a poll right now because I'm going to give away four copies of Justin's book. And if you can go through there, the first question is to enter your home address, because I will raffle these off and give away the book, but also ask you a few questions about your own investment style. So question one is, how many total investments have you made that are over $10,000? The next one is, are you an accredited investor? And I'm asking that because, just so you know, in the world of investing, creating enough cash so you have something to invest is important. And I want you, Justin, to talk a little bit about, you know, can you start small, can you smart, low, start low? And then if you have investments, do they generate any passive income? And already I'm seeing, you know, 60% say no, which is super, super common. You know, I think an unsophisticated investor, oftentimes like myself included, for so long, I made equity investments. I did a lot of startups because that's what I was comfortable with. It's what I knew. But there's no liquidity. And I got a couple of them with big brands, big people. Everyone here would recognize I've been sitting on it 10 years, no liquidity. Okay. If I was investing like a Justin, I would have made my money back and more and had cash coming in. And it's just. It's revolting. So I'm going to leave this up for a little bit so you can get in to win the copies of the book. But, Justin, why don't you talk a little bit about how much money you started with, how much you need, and where you actually start creating that forward momentum before we get into some of the frameworks that you follow.

Yeah. So these are all great questions, a great kind of outline, because it is very possible to start small. And I want to remind anyone, or let anyone know who hasn't read my book and remind anyone that has. I started in the stock market. You know, I just started investing the way that the smartest people around me at that time were investing. And so I just copied those individuals. And I had a pretty rude awakening at one point after watching many statements come by saying, you know, how much money I was making and that my average rate of return was, you know, X percent, 7, 8, 9, 10, you know, 12%, whatever it is. Only to realize later when I did the math, that I had actually lost money, that these statements were just more manipulative than anything. And really that Wall street in general, the way that they craft the communication, is geared to helping people think that they're making more than they really are, that they're going to take home more than they really will, and that they're going to keep investing more dollars and that they're going to not take money out. And so I was just blown away that when I actually ran the math of my own money, how much did I put in? And then what is my total? I had lost money, so I had a negative return. Yet I didn't have, like, a statement over the course of, like, a quarterly update that would ever indicate that. It was really just so disheartening. And so that was really where I made the decision to pivot. And so I pivoted with probably more as a down payment than I think you need to. So you asked the question. I mean, one of the questions you had in your questionnaire that you just posted in the poll was about being an accredited investor. Because there are some deals where you need to be an accredited investor, but there are other deals where you don't need to be. And there's a lot of these crowdsourced opportunities where you don't need to be. And you can start with something as little as 100, 500, 5,000, 10,000. And to some of you, that may be a lot of money, and to some of you, that may be a little bit of money. At one point in my life, that was a lot of money. And so, like, I respect you wherever you are in the process. Because in the early years, it was hard for me to part with my money. Once I found out that I had lost money, that the strategy that everyone said works didn't work, I, like, I learned that it didn't work. I became. I'd hold on to my money really tightly. Like, money became scarce, and I didn't want to lose it. And what that did is it made me paralyzed to make decisions that would actually create a better financial future for me because I was too scared to move forward. And so what I did is what I think is one of the best things to do. I just copied someone who knew what they were doing, because I didn't. And I figured if they could do it and I just used their playbook, maybe I'll be 70% as good, but that's a heck of a lot better than where I am today. Maybe I'm only 60% as good as. And so the first deal I did was to really buy my wife freedom. She was a teacher at that time. She was teaching high school business.

And some of the extracurriculars, like, some of the business classes, some of the different things. She actually helped out with track as well. Just a bunch of different sports or extracurriculars, I think, fbla many of those things that kind of pour into to these kids, but also to be able to amplify her income. But we are on opposite schedules. I had a busy season during the summer, and she had summers off. And so I knew we had to fix that. And so I bought a mobile home park because I had a friend that was doing it. And I just kind of like, at first I thought it was crazy. I was like, I don't know that you can make money doing this. I mean, he asked me to go do a boot camp with him. He's like, you want to go to this mobile home park boot camp with me? And I said, no, that does not sound good. It doesn't sound interesting, but I observed what he was doing and how well he did with it. And he sold all of his single family homes to get into mobile home parks. And then I really kind of created this wonderful relationship I had. The number one owners of mobile home parks in the space on the private side take me under their wing. And I just learned from them. And I bought my first park. It replaced my wife's income. I bought my second park. It covered our survival income. So it wasn't like we were at lifestyle yet. But what did happen is it took all the weight off my shoulders because I didn't have to work anymore. So even though it wasn't lifestyle income, it covered all of our bills, it was survival income. And that was a game changer for me. And it just took a little more time. Our next park covered our lifestyle. Then we bought, then we sold, that did 1031 into two other mobile home parks. And that covered the people who don't.

Know what a 1031 is. What is that?

So a 1031 exchange is where you can take one type of real estate, a real estate asset, you can sell it and buy, use all the proceeds to buy an additional asset or multiple assets. It's called a like kind exchange. Or the tax code is a 1031 exchange. And you can basically defer the tax, you can defer it indefinitely so you don't ever pay it. But you know, in this instance, I didn't have to pay. I had held it for a year and a day in case stuff didn't go through. Which puts you at long term capital gains tax instead of short term capital gains tax. But there's a way that you can roll it in and not have to pay any taxes on.

That gain. And so that deal right there put me over the earned income, so it basically replaced my earned income. And for those of you that don't know, earned income is your highest taxed income, so you pay more in taxes on that than anything else. And then passive income is your lowest taxed income. And so I remember having friends say, hey, why would you leave this opportunity, this business.

Where you're basically making twice as much as you were.

That'S like way more money. Why would you leave that opportunity and just stick with the passive income? And that was a no brainer for me because I wasn't trying to make more money, I was just simply trying to buy my time back. And then additionally it allowed me get to a place where I paid Relatively, I mean, almost next to nothing some years. Nothing in taxes, because I became a passive investor by IRS standards, which is kind of a whole nother category.

Kind of had to unmute myself. And that's where I think.

Two questions for you, because I know when I started working with you, I was. I did what I was comfortable with. I did what I was familiar with, which was investing in startups or stock market, which I always lost money in.

And one of the things that you really taught me is how to create an unfair advantage. And part of what's in the book, which, by the way, we closed the poll a second ago, and we're going to pick four people to give the book away to at some point here. But you have an uncanny knack for creating an unfair advantage. And I'd like you to describe, at least in the context, because you got the 10 commandments of lifestyle investing, maybe go through how you win at investing and also get past the hump of feeling as though this is too much. Because I know I looked at real estate, and I'm like, there's no way I'm going to do real estate. I'm completely overwhelmed. I don't want to do it now. Vivian and I are developing in Mexico, of all places, for a lot of reasons. I started investing and participating in businesses in ways I never would before. You've given me some deals that I've gotten involved in that if you would have described this to me even five years ago, my head would start spinning. I'd be like, I don't understand it. I don't want to understand it. I'm not going to do it. But you took away the fear because of how the deals were structured and how you got rid of risk. So why don't you deconstruct some of the Ten Commandments, and then we'll get into some deals that you've recently done that have paid out so people can get a taste of what's possible.

Sure. So, you know, I think it's really important to recognize that deals before you have an education in investing something can actually sound really risky, even though it's not. And so part of what I recommend everyone do is to really.

Invest in their own education to learn the ins and the outs. Because I have deals that I do, and people are. You know, I've had smart people say, wow, that seems really risky. And my response is, actually, there's virtually no way I can lose any money. Like, this thing is so protected that if everything went wrong, I actually make a better return. Than if everything went right. And so that's really how I like to structure a lot of my deals in a win win situation. So before I get into like a specific deal, I think it's important to outline my criteria. And I think it's important that every investor, and I'm going to say like every person that is going to invest money, I'm going to call everyone an investor because you either are investing or you are a future investor. And I think we need to be pouring into ourselves in the education standpoint of how to be a good investor. And just this whole idea of diversifying via, you know, the public markets, the stock market, that's not diversification. You know, your, your financial advisor is going to tell you stocks and bonds and fixed assets and that's like, okay, maybe you've diversified this one little aspect of your portfolio. But most people don't realize that the wealthiest people in the world, and I've studied the data specifically on the U.S. so the wealthiest people in the U.S.

Did you know that over half of their net worth, over half is in two things, private equity and real estate. And the vast majority only have about 20 to 25% of their net worth in the stock market. So I think that's really important. Based on data of family offices and just highest net worth individuals, I think it's really important to recognize that for most people, they have 90% of their, maybe 100% of their allocation in the stock market. And if it's not there, maybe it's like, you know, the majority is in their business, which is also a risky proposition in case things don't work out. And then the, the second tier is in the stock market. And maybe what I experienced is the third tier goes to like these super risky deals, these angel investments, which is the highest risk type of investing. But most people are like, oh, I got a tip or I just have a feeling. And the average angel investor doesn't make money until they've invested in 55, 050 deals. So in other words 49 or a loser. Like you have to get to that 50 to hit the critical mass of having one that goes well just based on average numbers. And most people don't realize that. So most people are doing what, you know, I call a 0% interest loan in a high risk asset for an undefined period of time.

I mean it's just, it's, it's generally throwing money away. So the whole reason I came up with my ten commandments is because that is my investment criteria. And if something matches up to these commandments that's very powerful. Like, that is something that I want to be in because I'm not making a decision based on emotions. I'm making a decision because I thought through what it needs to look like. And you can copy my. My ten commandments until you come up with your own commandments or your own, you know, investment criteria. I think everyone should have investment criteria because some people may want cash flow. Some people, when they achieve a certain amount of cash flow, they need to pivot because maybe they have enough cash flow, maybe they have surplus cash flow, and now they have to start looking at something that pays out longer term. There's just a lot of different scenarios that people get in. So all that to just kind of set up, you know, what I think are the most important criteria. And all 10 are important. But I'll highlight a few. Right now, one of them is lifestyle. First, I want to know that I'm investing in a way that's not buying me another job, that supporting the life that I want to live. It's supporting the life I already have and the life, you know, the future life that I would like to be living. And so that, you know, I don't want to buy a job. I don't want to buy so much real estate that the real estate owns me. I want to be able to, you know, scale it in a way where other people can run it. I want to be able to invest in deals where I'm a limited partner and there's a general partner that runs the deal. So, like a syndication or a fund, these are all passive investments. And I like that. The second thing, this is my second commandment, is to de risk the deal. The worst thing that can happen is you lose money. Now, keep in mind, every investor is going to lose money at some point in time. Everyone is. Can you learn the lessons from those losses? And then can you limit the amount of money you lose? Because I guarantee you singles and doubles will outperform the home runs almost every single time. When you lose money, you never get. I mean, that's a lost opportunity cost, period. And then to make that money back, you got to work twice as hard, at a minimum, in some cases four times as hard, just to make that money back. That's why Warren Buffett is so big on his number one rule is don't lose money, right? And so when I structure deals, my goal is not to hit a home run. My goal is to not lose money and get a good return. Much different than what most people are Chasing. Most people are chasing the biggest return they can get.

They're.

They're falling in love and they're being fooled by a pro forma, like the statement that basically tells you the story. If everything goes right, what is projected, this hasn't happened. It's what's projected. And a lot of people are looking for the sexy return. I don't care about that. That doesn't matter because it's not. It doesn't exist until it exists. I care way more about what was your last deal, what was your pro forma, what did you say you were going to earn? And then what did you earn? Right? Like, what was the return on it? I want to know history. I want to know who the operators are who operated in a previous recession and did well, because who knows what the future holds? Like, I want to know that you know how to weather that storm. So these are things that I look for when I partner or invest in, you know, operators. Um, you know, that's so important. Mike, there are a couple more that I can highlight, unless there's anything you want me to chat about prior to.

Sure. I, I'm, I'm going to kind of throw you a big bone here because.

One of the things that happened to you very quickly on.

And you learn this once you start investing, is there's literally thousands of deals happening all the time. And the hardest thing any investor has is learning to say no to the wrong deals and yes to the right ones and have really fixed criteria like you do. And just to give folks an idea, now that you've got lifestyle investor, part of what you do with your mastermind, for example, is you go out and you find really good deals that you vet and then you do syndication deals, which basically means you're not getting paid to do this. You just say, hey, here's a deal I'm investing in. Because you gotta adhere to a lot of laws and there's a lot of legalities involved in this. But you basically say, hey, group, here's something I'm investing in. Take a look at it. Do your own due diligence, but you're super transparent about it. But the net net is you filter deals, you figure out how to de risk them, and you do something that very few people understand because most of us we get are given a term sheet and a deal and it'll say, okay, if you invest this much, you're going to get this, but you turn it around and negotiate better terms. You de risk it. Sometimes you even get more ownership for less money. Even though someone gave you a term sheet. So you've got a whole stack of shortcuts that have evolved over time. And I, and I'm always looking for what's the shortcut because I'm not a fact finder like you are. I don't have a team like you have. I don't think like you do. I know how to multiply value of things, but I don't know how to do the due diligence. And I just, like my brain would break. So I wonder if you've got one of a couple or a few of the ten commandments that relate to that thought process. And, and then let's get in and deconstruct a couple deals so people really understand how you think and how they can apply this. No matter what kind of money you have. I mean, you can go in and dance in this game for even if you have five or ten thousand dollars or a hundred or a million. But you know, the. You really talked about playing baseball. A lot of this comes down to making first and second base reps, not planning for thinking you're going to get home runs every time. All right, I gave you a lot of stuff to think about there, but I know you're always good at synthesizing it and providing a good answer. So you ready?

Yeah, I'm ready. And I saw a few questions in the chat.

Yeah, there's some really good ones.

Yeah, some great stuff. Yes, for sure. You know, Canadians invest with us all the time. Super easy to do. And the very first mobile home park we invested in was $65,000. That was the down payment. And we did a seller finance note for the rest of it. So I didn't even have to get money from a bank. So super easy. But yeah, to answer your question, Mike, you know, our, our mastermind really does some fun stuff with structuring deals. So the first thing I do, so I just talked about de risking the deal. That's my second commandment. So let me give you some examples of de risking the deal. I love to de risk the deal. And this is right at the beginning, this is right after lifestyle first, because this is how important it is to me. So sometimes, like one thing I love to do, I love to be in a senior secured position, meaning if anything goes wrong and whenever things go right, I'm paid back first. That's really important to me. So senior secured or first lien or first position. It's good to be in the first position. Secondly, I like to collateralize what I do. So that just means that there's an asset that backs it. So let's say the deal falls apart, something goes bad, the deal that I do, they default on it and they don't own up to the agreement. Well, if I have collateral, I just get to take it. I get to take the collateral even if it's worth more. So a lot of the time I'll collateralize my investment or my loan, depending on what I'm doing. 3 to 1, 4 to 1, 5 to 1, 10 to 1. So I mean, that is a great way that you're in a win win situation. If the deal goes right, you win, they abide by the terms. If the deal goes wrong, you win even more. So there's leverage that the deal goes right. There are different things called confessions of judgment, where you can have people basically sign and not all deals can do this. And each legal team is a little different. And so some states like this, some states don't like this, but you basically have someone that admits their guilt if they don't abide by the terms of the agreement. So you can bypass, I mean, you basically fast track the legal system, right? You have the thing that you would need to get going through court. So you know that that's just another technique that is sometimes there.

And I'm going to stop you right here, which is important because these are things that you learn by just getting into the game. So first of all, you're not going to know everything going in, but being mentored is so important. And if you don't know to ask this, you'll never get it. So Justin can go into a deal where there's already several investors, could be multiple investors, and because he knows what to ask for, he can get preferred terms that no one else asked for. So he can basically get to the head of the line. And one of my mentors who I've been working with on real estate told me the secret to winning in real estate is just like the secret to winning in golf, which is you negotiate the game before you're make your first.

Hit on the golf course, meaning you're going to negotiate your handicap. And that can determine whether or not you win the game. And in this case, negotiating ahead of time, where you protect your downside, you get better terms, and you can bypass the legal system, means you're covered no matter what. But this takes some deliberate thinking, so I'm going to let you continue. But I, I just. That one thing made a such a profound difference for me. And since then, you know, I've negotiated a couple deals that I invested in where I've got, I'm an advisor. I got double the stock for no extra money because of that. That's something you haven't even gotten into yet. But I'm going to just turn it back over to you, Justin, because this is gold and I'm seeing people say this is fire. So keep it rolling.

Yeah, so I mean, these are just several ways that you can do it. I think that my goal is that I'm in the money at the beginning. Like the terms are so good that there's just no way to lose. That's my goal. Can I buy something under market value by so much that there's no way I can't sell it for more? Those types of things, you know, there's liquidation preferences. So let's say that there's an exit. You can set a deal up where you're the first money out even before the founder of a company. So I have this on a bunch of companies where no matter what the proceeds are, I get paid out before anyone else. So that's something. An accelerated distribution schedule is another one. So let's say I make an investment into a deal, an operating company, you know, specifically I can have partners maybe, you know, in one case I've got three partners where we're each a third of the equity. I've had other ones where it was like a 60, 40 split. I've had other, you know, I've had all kinds of different splits. But what I did is I created a situation where I got paid back 80, 90 or 100% of the distributions until 100% of my money is out of the deal and then it reverts back to what the equity splits would be. So that's just another way to, you know, to get money out. And one of the commandments that's really important to me, it's commandment number four. And gosh, you know, I hate skipping by commandment number three, which is finding invisible deals. But you want off market deals. You want stuff no one else knows about because there's less competition so you can get a better price. You don't want to be competing on price and bidding it up. But, but commandment number four is getting your, your principal back quickly. How do you do that? Well, there are ways, like I said, with an accelerated distribution schedule where you can negotiate to get it out. You can negotiate to have first money out in a deal. You can invest in a way where you get money back on a refinance of the Property. So instead of having money tied up for 10, 15, 20 years, you can get money back in one, two, or three years, depending on when that refinance is. There's just all types of ways to do it. So those are a handful of examples. But one of the things that I think is really important with Commandment 4 and getting your principal back quickly, I just want to paint a scenario of what I've done and what you can also do. So I've shared some deals with you, this whole idea of getting principal back quickly. So think about this. I made an investment of $100,000, and I've done this in a bunch of different deals. Let's just use real estate. For example, I invested in an apartment complex, and I've done this in several different asset classes. I've invested in all types of real estate. Unless it's super obscure, I've done it and I've gotten a refi out generally in one to three years and often in like one to one and a half years. So in one specific deal, I got my money back in one year. So I invested $100,000. I got cash flow every single month. My money's growing on the appreciation side of it as well. And on the value add side, at one year, I got my money back out of this deal, but I still have equity in the deal, so I have no risk. All my money's off the table, zero risk. So if this falls on its face, I didn't lose money. But the reality is it's probably going to keep getting better. I'm going to keep getting distributions, and whenever it sells, I'm going to make another big return. But I got my initial $100,000 back after one year.

And can you be. Can you share real figures? So, like, what were you getting in monthly distributions and how much equity did you have? And then what was the payout? Because again, part of what I want to share with folks here, part of the objective was when you start seeing deals like you see, unlike the stock market, it's sort of like stock market is. You're paying full retail. Every, every single odd is stacked against you. Plus there's an economy that you can't. You have zero control over. And every big wig, every fat cat's already getting their money out and you're last to get paid, and there's no guarantees. Okay, so it's the worst. I think the stock market is one of the worst things to put your money into, unless you're just doing index funds. So the short answer is do index funds leave it alone? S and P. That's what Warren Buffett will tell you. Because you can't time it. You can't win unless that's all you do. This is a way you can stack the odds in your favor. So I want to turn back to you. Use some real world figures there, just so people have a sense on what the ROI was.

Yeah. And keep in mind what the ultra wealthy do. So remember, 20 to 25% in the stock market, and the people that are doing this generally have their money allocated over 10 different hedge funds. So this is an advantage that most people can't get. These are hedge funds that you and I typically aren't going to have access to. So we can't game the system. The stock market's too efficient. You make money in inefficient markets. And so real estate, operating companies, private equity, private credit, like these are inefficient. There are opportunities because of that. So, you know, the ultra wealthy are doing index funds at the highest level by the most sophisticated groups that are out there. Right on just, you know, that play the game differently. They have algorithmic trading. They can just do stuff that you and I can't do. And so I think that betting on the future of our economy probably makes sense. But this is money that you're just going to set and forget. And you're not getting utility today out of those dollars. There should be a portion of your money that you're getting utility out today. So on that specific deal, I was making a 10% preferred return. So I make 10% before the general partner that put the deal together makes anything. So 10% on $100,000. I was being paid 10,000 a year, so a little less than $1,000 a month. These are monthly distributions.

And then the total return on this, this was supposed to be a longer term hold. It ended up being like a 43% or 41%. Somewhere between 41 and 43% was the total return on this, which is great, right? That's, that's the, the irr, the internal rate of return. So that's a very good return. I had hoped that it would be even longer term than that because I had all my money out of the deal, but I got cash flow. I got that money back. And then I had equity in this apartment complex. I took that same $100,000 and invested it in a note. But in this note, I negotiated. And I'll tell you a little bit more about this. This is an income amplifier, all right? This is One of my commandments, commandment number six. And what I did was I said, hey, I'm going to invest in a, a loan or a note, but I would like some equity for free. So we'll be on note payments that, you know, make me 20% over the course of the year, paid monthly once again. And then at that one year end date, I get all my money back. But I still have equity in the company. I still get a piece of equity. And so that deal went like clockwork for a year. I got 20%, plus I got a bonus at the end. So it ended up working out to about 30% that I made. Paid in monthly distributions, full balloon payment of my $100,000 at the one year anniversary. But then I've got equity in that company, right? All my money's out. I'm playing with house money. It's all upside. I then take that hundred thousand and I invest it in an operating company where I strategically place the operator in to run it. So we buy a company that's doing well, that already has proof of concept, is making good money. There is $75,000 to allocate to an operator running it. And so I find someone from corporate America that wants to get out of the rat race. I pay them $10,000 more than what they were making in their corporate job and give them a ton of equity to run this business. I created an accelerated distribution schedule. Now this business took off and the cash flow got crazy. And so I had all my, I had my $100,000 back in six months just to give you.

It wasn't anticipated that it would happen that fast, but that's what happened. But I still had equity in the business and I had a good amount of equity in the business, but all my money was off the table. Then I took that 100,000 and I put it in another deal. So the point I'm trying to make is now my money is in four different deals in four different years with the same $100,000. And I've got equity in them all. And I had cash flow during the timeframe of the hold on my money. That's called the velocity of money.

And the fact that you're not taking that principle out, so it's compounding on top of it, which explains why your net worth has grown so fast so quickly. And I said this, and this is the way when people ask me about you, I always say, this guy's going to be a billionaire before he's 50 years old. I just know it because of how you think? And so there was a question that came up a second ago. Rohit Sharma said, what industries are these investments in besides mobile home parks? And I think this would be a good time for you to, to maybe deconstruct a couple more of the deals you've done that you brought into your mastermind. For example, you know, one of them that I got involved in. I'll cue this up while you think about which ones you want to use as examples. But the goal here is to have Justin give you some real life. Like some of these are going to be name brands. You're going to recognize that he invested in. He used all of his commandments and didn't just get money out like you would in the stock market. If you buy a stock and then you sell it, and if you're lucky, you got a dividend stock. But the dividends are crap. Let's face it. The ROI is who knows which way the economy is going to blow and who, you know, which politician created some crazy idiotic rule that screwed everyone. Right? In the world of business, when you invest in smart people and smart companies, you can game the system and you can negotiate better deals. So with that, one of the deals that Justin brought to me was also a relationship is a software company that's an aggregator. And the way it's structured is we get a pref, meaning a preferred dividend of 8% a year on our money, which is awesome. It's. There is protections for our downside. But they're buying a whole bunch of software companies and then putting them on the stock market, literally bringing them public, and all the money goes to U.S. investors.

So. And eventually that thing will get sold. But something I didn't know is you could actually list a company on the stock market like the Toronto Stock Exchange, then the Durham Stock Exchange, and you can go to NASDAQ and sell less than half the company, so you still have controlling interest. I didn't know any of this stuff. So there are such smart, efficient ways of doing these deals and you'd be surprised at how accessible they are. That was part of the thing. So, Justin, let's have some good case studies so people get an idea of the industries they're in and also some of the clever ways you've structured these deals.

Yeah, sure, I'd love to. And you know, to answer, is it Rohat? Hopefully I'm saying your name correctly. I've. I've done deals in every type of real estate there is. So, like the example I just gave originally was a. You Know, apartment complex. I've done this with self storage, I've done this with industrial warehouses and distribution centers. I've done it with, I mean, you name it, I've done it. I've done it with single family homes. I've done it with whatever it is. Like, there's so many opportunities. So one of my favorite, favorite deals that I'd love to share and Mike, you got into some really cool stuff because on the tech side, generally it's like a invest and hold and hope that it works out.

Yeah, that's right.

So rarely do you get cash flow. Right. Rarely do you get to capitalize on that today. But what you're talking about, this specific fund only buys cash flow positive companies.

Yeah, you're already winning. You're already winning.

Already winning. This, this company doesn't have anything to prove. Like, like is this going to work? Is this not going to work? Is there market fit? Yes, it all works. They're making money, they're EBITDA positive. So I think that is really important. And then there are ways you can stack it where, because there's QSBs where basically.

So it's qualified small business. Basically you get a tax deduction when you invest in a company that is less than 50 mil.

In valuation. There are a few other things that you have to abide by, such as it needs to be a C corp, a Delaware C corp, and you know, basically you get a tax break for investing in these things and then you can have a fraction of it go public on one exchange and then a fraction go public on another exchange. All that to say, I like investing in something where you get appreciation, but you also get cash flow today and then there's a tax deduction on top of it. I mean that's the trifecta and that's what I look for. I want a little bit of everything. And so let's talk real quick about one of my favorite investments that I've done, which is.

So I want to be careful not to give too much away. And you know, still this isn't like a, a federally legal arena yet, but the, the space of cannabis, Hemp and CBD are legal. Cannabis is not yet federally, but it is in a lot of states. And so there's a lot, a lot of ways you can invest in companies that have incredible cash flow, that have banks. There are about 600 regional banks that can actually bank with these companies. So you can see the numbers. You can know that they've got cash flow. You can collateralize against it with Their licenses. And these licenses go for anywhere from 10 million to $100 million a license. So what a great option is collateral that, you know, they're not going to default, they're not going to lose that. They're not going to take a $5 million investment when the collateral is a $70 million license. Right. They're just going to figure out a way to make it right. And if they don't, you really win. Right. So this investment was paying us 15% annually on a monthly basis. Actually, one of the funds was on a monthly basis. One of the funds was on a quarterly basis.

Then on top of that, the actual return is in the 30% IRR range, internal rate of return. So about 30% plus per year. Then on top of that, we've negotiated equity kickers and warrant kickers. So that means they're free. So we're not paying for the equity, we're getting it for free.

Yeah, and an equity and a warrant kicker basically means that in a certain period of time you get more like just kind of give us a brief description of what that means.

Yeah, so with equity, you own a piece of the company. With a warrant, you have an option to buy it at a later point in time if it makes sense to exercise it. So it's basically owning equity today or having a right to owning equity in the future. And. And so most people pay for this. Like the investment is, let me invest money to get equity. In this instance, it's, we're going to lend you money. And then on top of it, because you want so much or you want it in a certain way, or there's not a lot of options for you to get money because you can't get it from a bank. We'd also like to enhance the terms where we get to participate on the upside for free. And so we got all kinds of cool kickers there. And then the best part about this is that that fund went public. And so there's this conversion where it went from private to public. Now the shares are actually liquid. They're still paying one of the highest dividends of anything that's on the stock market right now, with just the opportunity to continue to grow and grow. Because it's funny, because stocks are down and this one is kind of equal to book value, which is, you know, based on the financials, based on everything that makes us up. It is trading way below market, but we're still getting a 12% dividend on the public side, which is pretty unheard of. And the upside of this Thing just growing and growing is pretty significant. And then you have the ability to redeem if you want after, you know, depending on what investment you're in, one or two years. And then on the public side, really, you could redeem at any point in time. I love one example.

Yeah, I think that's good that that breaks it down. And again, the whole idea of you've got it collateralized, you can't win or you can't lose right from the start, so you already won the game, you get monthly dividends. That's always nice to see. It's nice to have those wire transfers hitting your, your bank account.

In some cases. I know, like with gas and oil, for example. I'm going off on a slight tangent, but there are some instances where you can take all of your investment dollars and deduct them from your taxes the same year. You know, that's another way of saving. And again, this is how true wealth momentum gets built. Plus in the case of converting from a private company to public and getting.

Public shares, and there may be, again, if there's a kicker, as you say, you can actually get more stock than you paid for because of that conversion process. So again, you win this game by negotiating upfront, but even having an understanding of what words to say, what the language means. And this is how the world of investing is often obfuscated to the common person, to ordinary folks like you and me had no education in this stuff and boom, got dropped into it. But you found a way to create those shortcuts, to take your, your 20 years and compress it into being able to teach someone by getting, getting them involved very, very quickly. So one thing, I'll share another deal. Yeah, share another deal. And then I've got. We're going to give away your course here and tell people a little bit more about your mastermind too. So why don't you. Yeah, let's tear apart another deal.

Okay, so this one's fun because I think everyone or most of you are going to recognize the name of it. So I'm sure many of you, probably all of you have heard of the company Pier 1. So Pier 1 Imports, they went under, they filed for bankruptcy. That company became nothing. And a group of us investors bought them out of bankruptcy, where we basically got all the debt forgiven, all the bad stuff that they had, all the stuff that made them close. And it's kind of funny because this company fought against E Commerce. They're like, no, we're a brick and mortar store. E Commerce is cannibalizing. Our retail sales. And it was just backwards management. Like who today doesn't recognize that E Commerce needs to be part of any business. It was just lack of leadership. And so a bunch of us investors bought this out of bankruptcy and we brought in a pretty well known person, high profile in the world of, of online expertise and marketers to come in and to really run it. And I negotiated some killer terms for our group. We were the original investors and the largest investors in this deal. And I'd done some retail brands prior to this, but we were able to negotiate a basically a debt deal. So it's a note. It was a two year note with 20% interest paid monthly. Then on top of that a cash bonus that basically put the, the total return to about 30% with monthly payments. But that extra 10% didn't go until the end of the year, until the end of that note term rather to the end of the two years. Then I was able to get US equity for free into this deal. So we didn't have to buy the equity. And so we just hit the two year mark at the beginning of this month on August 3rd. And so anyone that wanted out of that deal got out of it. Some people extended it, some people converted it into equity, but anyone that wanted to get out got out. And it was really neat because now we made 30% each year over two years. So that's 60 technically is 20, 40, 50% because the cash bonus is 10%. So let's call it 50% total on our money in two years plus total principal back plus equity in this deal. So we get to participate on the upside but have no money in the deal, zero risk and enjoy the cash flow, you know, during that two year hold. So that's just a fun one that everyone's probably heard of the name and maybe you've seen them reemerge online, but that would be a great example. And I've done this with 10 different big name retail brands that ended up having to file for bankruptcy, you know, over the last three. Yeah, last three years, Yeah, I think.

That'S a brilliant one. And this just goes to show that there, there are no exceptions to this. Every single business, every single founder always needs help scaling and growing their business. And they are going to need capital and talent. And you buy talent with capital. And the way you incentivize investors is to help them make money. And some of the smartest business owners make money don't even need the cash. What they want is constant access to cash when they need it. So they just make sure that people around them are making money so when the time comes they can get it. And you know, if you have a reputation for being someone who has good deals and make money all the time, that's where this amazing growth comes from. And it's a mindset just as much as anything else. So I know you've probably got a couple more deals. Here's what I'm going to do really fast. I'm going to announce the four people who won the book and I'm going to drop in the link to get Justin's course in a moment. But I'd like you to talk a little bit about the mastermind, because I'm doing this for a couple reasons. One is.

When Justin and I were working together, one of the first things I said to him is, man, you have so many deals around you, you're already vetting so many of them. It seems like a shame that more people don't know of this. So.

Like, tell us about the idea of doing syndication and having a mastermind where you're pre vetting and then you've got an audience and the benefits of being part of a syndicate as well, because this is a huge multiplier. Because I'll tell you my version of what other people say about you behind your back after you describe this. So why don't you set this up? Because it's so interesting.

Sure. So really for me, I think that it's just really important to be around other like minded people, people that you resonate with, people that share the same values as you do and more, I don't want to say more important. Equally as important as sharing the same values is that there are people that play the game of life and business and investing at a higher level than you do. I think it's important to always have people that you can mentor in your life and then always have people that can mentor you in your life. And I think both are important where you're giving and you're receiving. And so really the mastermind is just some of the smartest, sharpest, most accomplished people I've ever met. From every walk of life, from every profession and we gather to learn. I bring in the top experts in every industry under the sun and then I bring in deal flow. So deals that I've vetted and we bring to the group, we have, you know, pre negotiated terms most of the time and sometimes we'll negotiate terms right there on the spot, which is fun or even more enhanced terms. But what I really like is that after the ever, every session we do, we kick off whoever was sharing the deal and then we talk amongst ourselves. And I got to tell you, the brain power that we have, having an expert in virtually every industry there to ask questions when we do the Q and A, and then to dissect the deal after the fact and say, hey, I like this, I dislike this. We need to negotiate this better to protect ourselves. On the downside, I mean, it's just a powerful brain trust of, you know, I really think that it's the most brilliant people out there. I mean, we have net worth. You know, net worths anywhere from like a million dollars to 350 million dollars and everything in between. So it's just all across the board and. And we just have fun. You know, we do events together. We're doing this really cool wine tasting in two weeks. We're doing. We have these dinners we have right now, we have one of the groups that we invest with coming to Austin to do a dinner with a bunch of us that live here in Austin, which is where I live. I mean, there's just no shortage of, you know, information. Plus, I think it's important that everyone has the best of the best in their wheelhouse, right? Like the best cpa, the best tax strategist, the best attorneys, the best, whatever it is. And then one of the big things we focus on is tax strategy. I mean, most people cover what it is, you know, the tuition of the mastermind just in tax savings every single year. Because the things that are out there that people don't know about. We got a list of, like, I think it's like 22 different unique tax strategies that most CPAs don't even know about. When people join and are onboarded and they're just blown away.

Yes. I had to unmute myself. And here's what people say behind your back, which is right now because you've built this amazing brand. You've got your podcast, and you're so well branded, and you have access to so many deals that I'll give you a real life example. So Eric Francom, who we both know and we both worked with when he started working in your mastermind, he doubled his net worth in year one, and then the next year he doubled it again. So, you know, you walk away with a 4x now, of course, we can't make any guarantees. You're not making any guarantees. I'm not making any guarantees. But.

Again, you can't do stuff like that in the stock market. In my opinion, in my experience, it's certainly possible, but timing.

You might as well just be playing the lottery. In the world of doing smaller deals that don't get on the radar of the big rich players, that's where the real money's made. And historically, they've been risky, but they're risky because you're unsophisticated at knowing the language or unsophisticated at understanding how to put together the structure or more importantly, the benefit of a syndicate. Now, this is why I want to really get this through, what Justin's able to do, and I hope I can say what I'm about to say. See, I'll dig if. But Justin can find a group that wants to raise money. He'll pre negotiate really good terms and good deals. And when he makes this available to his group, they can raise millions of dollars and collect millions of dollars in a couple of weeks versus a traditional business person who has to go out and talk to people and individuals and wait and then everyone's going to try to negotiate. And it's just, it sucks. It sucks to raise money that way. So it gives. Because Justin can walk in with a group and he's got a history and a track record. Every single person wins. And that's one of the reasons why he gets such an unfair advantage.

And so my advice to anyone who wants to get into investing is find a group, find an experience group. Find someone who has access to a lot of deals and vets a lot of deals. Because the best way to become an expert at any anything is to see a lot of stuff and negotiate a lot of stuff. And you want someone who's been in ideally hundreds of deals, lots of them, and recency matters and transparency matters. And one thing that I know this because I worked on it with you, Justin, is when you defended your own investment portfolio with Tiger 21, you have to be full disclosure and transparent. And so you are really transparent. You'll say, here's where I made money, here's how much, here's how much I started with and that matters in building the trust. So I'm just going to tell everyone if you didn't see the chat and then we'll take some questions here. So submit your questions now. But to learn more about Justin's Mastermind, go to lifestyleinvestor.com mastermind and like I said, in a moment I'm going to paste in a link so you can get Justin's lifestyle investor course for free. So any thoughts on what I just shared? And I hope that was all accurate.

Yeah, Definitely. And I mean, we have purchasing power, which is really nice. You know, people often will come to us even last minute, hey, we're $5 million short, and we don't know what to do to get it. If your group will invest with us, then we won't charge you any fees, we won't charge you any carried interest. You literally get in for free and get equity. And so we've had. I mean, so this literally. I had two people in the last week just tell me about a deal right at the $5 million mark. Two separate deals, two separate people. And so it's nice being able to be able to just pull the trigger quickly. And you get great terms because of that. So, I mean, there's no way to get better terms than that. Like, all the fees are gone. And so that's a win on our side. We come in at such a great valuation, such a, great, you know, price point. There's. It's just hard to lose money. And then the other thing that I would say is it's really important that you have people in your life that you can talk to about money. For some reason, societally, we decided talking about money is taboo and we shouldn't do it. And that is just not accurate. The wealthiest people talk about money all the time, and they. They're always willing to learn what their blind spots may be, but to share what they're good at. Like, in the circles I run in, we talk about it like it's anything else. Like, hey, what. What's your favorite kind of wine? Hey, what's the return? Just got in this last deal. Like, it's. There should be no taboo nature around it, because how else are you going to learn? I think it's really important to get around people that you can be totally open about where you are. No front, no ego, just, here's me, you know, open the kimono. This is where I'm at financially. Because how else are you going to be able to learn and grow at the level that most people want unless you're giving yourself, you're being vulnerable and being true and authentic.

So true. So true. It's that mentorship, and it begins and ends with transparency. And that's, again, why it's always been easy to recommend you to people. It's where part of what brought us together, I think, is I saw that in you, and I'm like, okay, this is a guy. First of all, I wanted to have you bestow your magical powers on me, but also on people I knew, because there's A huge hole in the market for this. So I got a couple ideas. One of them is I'm going to announce the four people who won a copy of the book. I'm going to send these to you personally. Actually Lori, my EA is going to send them to you. So here are the winners. The four winners. James Stewart, Eva Hatzonbeeler. I hope I pronounced that right. Shane Mellinson and Lana Bates. So you guys won copies of the of the book. We'll get that shipped out to you right away. Thank you for filling out the form. And one more time, it's in chat right now but I'm going to repaste it which is to learn more about.

Justin's Mastermind go to lifestyleinvestor.com mastermind and right now I am going to paste in the the link to get Justin's lifestyle investor course. You'll learn more about how Justin thinks. This is really a good deal because it's free. It's free, ladies and gentlemen. That's on Justin and I'll paste that in. So Justin, why don't you bring us home and talk a little bit more about anything you want that you think is vitally important that people understand about investing, lifestyle investing and growing their wealth, their portfolio. Thinking like the wealthy think.

Yeah. So one of the things I would like to point out, number one, is I try to give everything humanly possible. You do in the book, right? My book has all kinds of stuff. The online course retails for $497 and that's like an extension of the book. And then my podcast is with like all different, really interesting, inspiring, cool people. So all under the brand, the lifestyle investor. And so you know, when I think about the mastermind, it's not the right fit for everyone. But if you are a great fit for it, it can be a game changer. And I think for those that are not, it can be an inspiring jo to get to a position where that is an opportunity for you. I just think that today and we don't know what's going to happen with the market, with the economy, we don't know. I suspect it's going to get worse before it gets better, but no one knows. And if the Fed raises interest rates, one thing's going to happen. If they inject more money into circulation, something else is going to happen. One thing I know for sure, in good times or in bad, you want to own assets. And you want assets so as monetary supply expands, as inflation increases, you want to own things that are going to grow at that same level. So when more money is printed, it makes your assets worth more. When inflation increases, you've got assets that rise with the rate of inflation. So if you're not in deals, if you're sitting in cash, you're losing money every single day. So I think it's smart to invest in assets. And what I personally believe is to start off first with an, with assets that produce income. So that way you have utility today and maybe you're only paying your utility bills with the passive income at first, and then maybe you build up to making your car payments and then maybe you build up to your mortgage payment or whatever. You know, you can keep growing it, but I think you start somewhere, you buy assets. Because the wealthy buy assets, they don't sit on money and they don't have their money in one place. They diversify it across private equity, real estate, public equity and other alternative investments. Fixed income, Bitcoin.

Gold, silver, uncorrelated assets like wine, bourbon. I mean, I mean the list goes on and on.

That's great. Maybe the one other little close I'll ask you about is what are your feelings on crypto now that we had a recent bloodbath and you know, we had a lot of people, people I know for example, put a lot just like over invested in crypto and now in some cases half of their wealth is gone or a third of it suddenly and that was their investment capital too. And I'm curious where you stand, what your belief is and if you had a recommendation on a portfolio balance or just your philosophy.

Yeah, I think most crypto projects are probably high risk in nature. I think bitcoin has proven to be something that's going to be around for the test of time. Ethereum, probably as. But I think there's more utility today in bitcoin than anything else. I think it's the most proven and I think that you're getting it on sale today based on where it's going to be in the future and from an asset allocation. Obviously I'm no financial advisor. I'm not giving financial advice. I'm just sharing what I have done and what makes sense to me. And I think bitcoin is I would treat it like gold. You know, if you own 1 to 5% of your, your portfolio or net worth in gold, I think that makes a lot of sense. And I would say the same thing of, of bitcoin. You know, can you get to half a percent if you're at zero percent? If you lost half a percent because it died, it likely wouldn't like, wreck your financial life. But if it did what I think long term it's going to do, it could be one of your best returning investments. And so, you know, I think there's all kinds of stuff that you can get into. I mean, art, I love art. You can now get fractional ownership in art with, you know, a lot of.

Oh, I've never heard of that before. How interesting.

Yeah, I mean, there's, there's so many different ways. And by the way, I've done this like on a kind of like, you know, a brokerage, but I've done it straight up before. I mean, you can do this with music royalties, you can do this with original content, you can do this with all kinds of stuff. Stuff. I mean, the opportunities are endless.

I love it. And a lot of people are asking about. We sent out the link to get the course and on there you'll. It's a small survey. Troy had asked about this. So just go to that link that I pasted into chat, which is the short link we created for you is paid for life.com JD free. And when you fill that out, that'll go to Justin's team and then they'll pass along the course. But there's also some questions that you can ask Justin and I'll just briefly show them to you. So you see it here and I'll briefly share my screen. But while I'm doing that, anything else, Justin? So this is what the document looks like. It's ask your email first, last name, mobile. Biggest burning question for Justin. Biggest money challenge. This is a great way because Justin and his team love to know just where you are in terms of money. They're asking some simple questions. You can share as much or as little as you want. But again, what's important to Justin, and part of the reason he's doing this, he's giving away the course for free, is also to learn more about the people who follow him and where they are in their journey, their financial journey. So anything else you want to add about the Mastermind, the free gift, your podcast? I popped a link to that in chat as well.

Yeah, I mean, I think the Mastermind's not for the faint of heart, but I think it's for people that are willing to, you know, really make an investment into themselves because, you know, it's. The price point is based on, you know, prohibiting people that maybe aren't the right fit yet for it. But we're also pretty critical about who gets in and, and so we want to make sure that it's the right fit. But something that's really interesting is even at a high price point, we still have a 90% renewal rate as of today, which is pretty unheard of. And it is the world of masterminds and anything like that. So I feel really great about that. We have 135 members and it's just an incredible group and right now we're sitting at about a 70 person wait list for that mastermind. So, you know, we want the right fit people, but the goal isn't the most people. The goal is the right people. And so right on. If it's not a right fit today, don't give up hope, maybe in the future. And there's a lot of other things that can be done in the interim, a lot of other products. But if you are the right fit, I think it's a no brainer based on the fact that virtually everyone saves at least that if not 2x at a minimum, the tuition in tax savings every year.

Yeah, everyone I know who's joined has made money and has completely changed their outlook because they just didn't even know what was possible. I think the increase in the vocabulary. So if there ever was a no brainer, I can endorse it because I've worked with Justin for a long time. I know his members, they're amazing people. You will, you will make friends for life in addition to just gaining, gaining access to this. So I think what we can do then Justin is let's finish up. You can, you and I can have a brief convo right after this. And in the meantime, links are here and what I'm going to do for you because you stuck around is I will send a replay out to you also as a gift. So there's a link to the mastermind. Lifestyleinvestor.com mastermind the course paidforlife.com JD free and then if you haven't already found it, go and subscribe to Justin's podcast, Lifestyle Investor. That link I also put in chat too. But you'll get an idea and meet some of the people that Justin's doing business with and learn those vocabulary. It is something that will pay dividends now and in the future no matter where you are on your financial journey. So Justin, your last words.

Well, you know, I just saw something from Kevin in here. He asked why are people willing to give you these types of terms and strategy, you know, for, for like, why would they raise money traditionally from like a bank or something? And the easiest answer to that is because we're strategic investors. So not only do they not have to have the covenants that banks have, which are rigorous and strict and really just horrible, but now they have smart investors that have networks that have influence that can help build and grow the business, that have a vested interest. So they're going to take smart money over dumb money every day of the week. And sometimes it's time sensitive, like we can pull the trigger on something in a matter of days, sometimes in a matter of hours, where banks generally are going to take, you know, 60 to 90 days, depending on how big the transaction is, maybe even longer than that. So, yeah, I think that that's really important. And then the other thing that I'm just really proud of with our group is in the last couple of years, we've had over 30 people find financial freedom, and we've had just tons more that have increased their net worth. And more important than net worth is their cash flow. I just got a testimonial from someone that increased their annual cash flow by $4.4 million. Now this, this is not a small fish. So this is not someone that limped into the mastermind.

Yeah.

This is someone that, you know, is very smart and very successful, but didn't know anything in the world of this investments.

Yeah. So that's, that's that. I don't know about you, but I could start some serious bad habits on a quarter million a month or more in passive income that would, that'll take the edge off anyone's life and create some more problems that you didn't even know you could have. So that's a great, That's a great story, Justin. Well, let's do this. This is, as usual, the continuation of a long journey together. I got to, I got to get myself scheduled to attend one of your next experiences. So, Laurie, I know you're listening right now. Make sure you get one of them on the calendar here. And you and I are going to see each other in a few weeks in Austin anyway, so I'm going to leave it at that. I want to really, really thank you, man. Appreciate you so much. And I'll give you a quick call as soon as we're done.

All right, sounds good. Thanks for having me. And it's always fun to share. So hopefully everyone got at least a nugget, something that you can take away with. At the end of every podcast. I just say, what's one step you can take today towards financial freedom and living a life on your terms? That's intentional, not by default, but by design.

Right on. Beautiful way to end. So thank you and everyone, thanks for sticking around. Enjoy the free gifts and goodies, and I'll see you in one of the next.