Episode 583 - Interview with Daniel Riddle

Approaching 39 years in Aerospace as a W2 Employee. Also going on 20 years in Real Estate to create generational wealth. www.excalibretexas.com

Episode Transcript

Speaker 1 (00:06):
Hey, good morning, and welcome to Breakthrough Walls. I'm Ken
Walls and I am your host, and today I have
the amazing Dan Riddle on the show. He is a
guy that's been in aerospace for a very long time.
He helps other people, including himself, create generational wealth through

(00:29):
real estate investing. So do me a favor and share
this out and get a bunch of people on here.
Let's listen to Dan Riddle in his story. Stay with us.
We'll be right back. Okay. Let me go ahead and

(01:16):
bring Dan on right now. Dan, welcome to the show.

Speaker 2 (01:22):
Thank you for having me Ken.

Speaker 1 (01:25):
I'm grateful to have you on here. I've had your
wife on the show. Sharon and y'all are a power couple.

Speaker 2 (01:34):
I'd say so, but i'd say she's the better half.

Speaker 1 (01:37):
But that's okay, Yeah, she's awesome. So so Dan, you know,
I started this show five and a half plus years
ago and it was literally to help people have a
breakthrough in life and get unstuck, because I think a
lot of people get stuck in life and just don't

(01:59):
know which way to turn. So you know, I love
starting with you kind of telling the audience where it
all began for you. Where you were born and raised.

Speaker 2 (02:10):
I was born in Houston, Texas, December ninth, nineteen fifty seven.

Speaker 1 (02:15):
And remember ninth, that's my mom's birthday.

Speaker 2 (02:17):
Oh okay, share it with an important person. Then.

Speaker 1 (02:21):
Yeah.

Speaker 2 (02:22):
I don't really claim Houston a whole lot because I
moved to the Dallas Fort Worth area when I was five,
and I think I grew up here.

Speaker 1 (02:30):
Well, most people from Houston don't really claim Houston.

Speaker 2 (02:35):
Yeah, there's not a You don't ever want to be
there in August if it's over ninety degrees.

Speaker 1 (02:42):
I've told people that my dad lived in Houston for
like thirteen years and I was down there and I
was like, and I've been down there since then, and
it I mean, it's not just hot like it is
here in Dallas in the summer. It's also humid and rome.

Speaker 2 (03:00):
And even in the winter it's too grace guy, too
many gray skies and cloudy and it's just you know,
Donald's Fort Worth is sort of happy medium in Texas.
Houston's all muggy and all of that. You can go
to West Texas it's drys and bone dust storms, all
that kind of stuff, But North Texas is about in
the middle between that it's humid, but not near as

(03:21):
much and it's a great place to grow up. And yeah,
I guess one of the where one of the number
one cities are in growth and a lot of the
factors right now, it happens to be df W, So
the epicenter of a lot of the opportunity today.

Speaker 1 (03:38):
Yeah, df W is a great area too to to
to be in. There's my friend Lolo over on AX.
Good morning, Lo, Lo, So so talk about So when
did you move to the df W area.

Speaker 2 (03:59):
I was five years old. It was a little upset
at first because if we had stayed in Houston, they
had kindergarten in public schools, but they did not in
the Dallas area, so I had to wait till first
grade to be able to go to school. But it
was a good move. My dad was in the oil
industry Atlantic Ridgefield for almost his whole career, and also

(04:23):
he had opportunities at times. But one thing he told
me when he got older after he was retired, he
shared more about each move he made. He started with
them back in the fifties in Dallas. Then he moved
to Witch Talk for a few years of an older
sister born there. Then he moved to Houston, where I

(04:43):
was born and a younger sister, and then he moved
to Dallas. But later on he told me, it's like
six months after he left out out of Kansas out
of witch talk, they shut that operation down up there.
And then when he moved from Houston to Dallas, which
I was part of, they shut down that operation six
months after he left there. He was never laid off,

(05:07):
but he was ahead of it for his career and
then the rest of it. He stayed in the Dallas area.
They moved him in different offices all over the place,
and all of that is, they moved around in all
and then but then he hit a point later when
he retired out he did well. He taught me well.
Both Sharon and I both have fathers that grew up

(05:28):
on a farm, and Sharon's dad ended up being a
construction contractor. My dad got to go to college and
get a college degree, and he really ingrained that in us.
All I needed was three months in high school, my
first job at McDonald's. Decided, yes, I'm going to college. Yeah,

(05:49):
I don't want to do that, Flip Berger's, No, I
don't want to do anything. I want to do something
bigger in the world, but he was able and he
valued very highly to help busket through college. And so
I bought into the traditional mantra, you know, do well
in school, believe it or not. When I graduated, there
was another guys to absolutely tied at the same GPA.

(06:13):
I can't remember what it was about ninety points something,
but it absolutely tied. So I tied with a guy
for twenty fifth of my class. And then then I
went off to college and started learning stuff. And I
originally started an engineering I worked at it hard for
a couple of years, but I didn't totally like it.

(06:36):
It was okay, you know, I was slugging my way through,
but I didn't like it. So I ended up changing
and went to the business world. And when I was
through searching through a couple of degree possibilities, I ended
up in production operations management. And that's when I graduated
a business degree in production operations management, and that leads

(06:57):
you a lot of times into planning, scale of manufacturing, operations,
all that kind of stuff, and that's really where I
ended up and all. And it was sort of fun
in a way because it still demanded some technical side,
some math skills that kind of thing, but it incorporated it.
You were more involved with the people's side of it too,

(07:19):
working with others to make things happen.

Speaker 1 (07:21):
And also, but how did you because I know you're
in aerospace. You've been in an aerospace for I think
thirty nine years, how did you end up in aerospace?

Speaker 2 (07:32):
Well? I did a couple of things. One thing that
was a little interesting. I loved coming out of the
bachelor's program broke so much. I did it twice. I
also went back to school for a master's and it
came out broke again.

Speaker 1 (07:45):
Wow.

Speaker 2 (07:45):
But in between that, I had a three years of
a job and it was more semiconductor related and they
were building a little, tiny company where I got to
learn a lot of stuff. They were building small pieces
of equipment for Semicon, their labs where they did the
research and on. That was good, but I learned what
I could. It was a tiny little outfit and I

(08:07):
was ready to move on. But then I got that idea.
You know, I started working on the masters at night,
and I said, you know, it'd be sort of nice
to just knock this out. So I put together a plan.
I worked one more year at that outfit, and then
I quit and went back and I crammed. I think
I did eighteen hours one semester of grad school in

(08:27):
fifteen the other, which is pretty heavy load. But that's
what it took me out. The one thing I misplanned,
I got out in August nineteen eighty five. People don't
hire as much in the fall, so I had to
wait out. But I got into aerospace, and it was
actually a close family friend who was a tight flight

(08:48):
test engineer with Bell Helicopter, and he actually talked with
me a bit when I was talking about changing out
of engineering. He helped me clarify where I was going
and that I really enjoyed the people side more than
just the technical side. I liked some of both, and
he helped give me that guidance back when I made

(09:09):
that major change in college in the bachelor's program. But
when I got out with the NBA, he took my
resume and he walked it all over Bell Helicopter trying
to find the right place and found an area they
had a need. And the first position I had was
called a master scheduler. And actually I have been involved

(09:32):
in that discipline in that area for the whole thirty
nine years since Wow but it was his commitment and
his friendship that really it comes down to who you know.
He walked around till he found the right spot for me,
and I worked and I started there. The fun part

(09:53):
of it is I'm a very unusual exception here. In
thirty nine years, I've worked for two airspace and defense companies,
only two.

Speaker 1 (10:03):
Wow.

Speaker 2 (10:03):
Most people I know, contracts come, contracts go. You know,
it's up and down, depend on who you're working for. Right,
people my age at this point, a lot of them
have worked for half a dozen, maybe ten different places.

Speaker 1 (10:16):
But well, let me ask you this because you know,
again this is about having breakthroughs, right, and and so
and and facing challenges. I think that a lot of
people and maybe maybe you never had any like challenges
where you had to decide whether you were going to

(10:36):
eat or keep the electric on. I've had those, and
I think a lot of the audience has and and
and so did you along this path, along this journey,
did you ever face anything like? Man, I have no
idea if I'm going to be able to make my
car payment or you know, I mean, have you ever

(10:58):
had any challenges?

Speaker 2 (11:00):
It's never been to a point where I was up
against the wall and didn't have the money pay for anything.
But there were definitely financial concerns. If my first my
first challenge that really I focused in on was I
was there when they had the first flight of the
V twenty two Osprey. That's the till problem. And there

(11:22):
wasn't gonna be a contract for eight or nine years
or more. We knew they were downsized and they had to.
They had fallen and proved it all of that, but
it wasn't going to have a contract. They were going
to downsize.

Speaker 1 (11:34):
And I got.

Speaker 2 (11:34):
Assured by the people I worked with, and I got
married in eighty eight, So sitting in going eighty eight
into eighty nine, this was when we knew there was
going to be cutbacks. There had to be. The guys
in my group said, oh, you don't have to worry
about it too much. The most we've ever cut is
ten percent, which would have been about one person. Well,

(11:58):
there was a guy in the group that was there
less than I had been. I'd been there three years,
he'd been there a year and a half. So I
had I had a position that i'd be I should
be okay by everything. They said, well, it's slight problem.
He left of his own and went to gd which
became a part of Lockheed today. And he left on
his own and went somewhere else. I'm like, oh no,

(12:19):
I'm low man on the totem Paull. So I started
looking immediately, and I was concerned because I hadn't been
married very long and we didn't have a lot of
money put aside. I could be vulnerable. So I went
to looking and looking, and I had interviewed with a
subsidiary of the Boeing Company and went on with that.

(12:41):
I didn't hear back from it first, so I called
him back and on they had changed the person I
interviewed with and left the company. That wasn't exactly making
me feel real great about it, but anyway, they put
me in touch with other people. Ultimately, when it was that,
it was June third of nineteen eighty nine, I got

(13:04):
laid off. I was kind of wow, and I didn't
know what I had coming yet, right, I was concerned. Fortunately,
I went through all the ups and downs and think
about what's next and all of that over the weekend
and Monday morning I got a call from Boeing and
they wanted to hire me. So I experienced layoff for

(13:25):
two days. So I feel very very thankful.

Speaker 1 (13:29):
Yeah, but it's not very terrifying.

Speaker 2 (13:33):
Your first time to really face that and all this
can be.

Speaker 1 (13:37):
Yeah. Sure.

Speaker 2 (13:38):
Even while I was Boeing another couple of years, one
time I got to I was still in a master
scheduling kind of role, and they had a company wide
a series of meetings a week long in Seattle, bringing
people from all over the Boeing organization. There all master schedules,
all these different plants and allays. Its cool to meet

(14:00):
these different people from all over. But I remember coming
in about the third day of that and they came
and said, hey, the master schedulers, there were three of
them there, had to go back to their plan because
their program, it was some sort of retrofit to an
A one aircraft. I don't even know much about that aircraft.

(14:22):
Their contract got canceled just on the whim, on a moment.
It probably was working up to that over time. But
government can cancel a contract at their convenience any time
they want. You are not just pretty and clear all
the time you could be working. So that stayed in

(14:42):
my mind. And what I still didn't have the trigger
there because I did well with the boy and company.
I eventually got into management and things went great for me.
I enjoyed being there close to home. I had a
twelve minute drive to work. It was just wonderful. At
that time, our daughter was very young.

Speaker 1 (15:02):
Was that here in dft W.

Speaker 2 (15:04):
Yes, still here in dft W Denton. I'm in Denton,
which is the further, the furtherest most of the cities.
It would be considered part of the Dallas Fort Worth metroplex.
So it's it's still in the in the city and all.
So I got to spend lots of time. I got
to be the drop off and pick up dad with

(15:26):
my young daughter. That was priceless and that's great. But
my biggest wake up call, you know, that really hit
me hard was the results of nine to eleven when
the Boeing company analyzed everything and that horrible day. I
it is most of us remember where.

Speaker 3 (15:44):
We were that day, what we were doing, who we called,
which typically was your spouse and your family, all that
and the horrible thing that happened for me, though, I
saw a pretty quickly said okay, what's mother Boeing going
to do here?

Speaker 1 (16:01):
Right?

Speaker 2 (16:02):
And they came out about two three weeks later and
said they were cutting production by half fifty percent. Never
seen anything that big before, right, And you know, first
reaction everybody here's that is like, who's going to get hit?
That's fifty percent. That's half of the people have to leave.
We had eighteen hundred people at that site. Nine hundred

(16:22):
would leave. Yeah, And I was in management, so I
had to I had to rank my people. I had
to work with my upper management to defind. Okay, here's
my ranking of each of these eleven people. Six of
them are going or leaving, five of them will stay.
I got lucky, but I remembered that I was like,

(16:44):
that could be me. I spent about two weeks wondering, okay,
am I going? I started looking around and looking for
other opportunities. Actually found a couple possible ones, but they
were clear across the country in Georgia. Didn't know anybody there.
I'd be taking my young daughter away from grandparents that
lived a mile away. Stuff like that. It's like, I

(17:05):
can't do that to my family just to try to
advance myself. And so I sat tight with it. But
I said, I need a better plan. I need something else.
What are my alternatives? What do I want the endgame
to be on my own terms W two job, not
just being laid off in your gun. I don't want

(17:26):
that for my family. I don't want it for me.
So I seriously started looking at what are my alternatives
and that got highlighted even further a year, almost a
year and a half after that, the Boeing Company sold
us to another group, and we found out pretty quick
what they were going to be like. They wanted to

(17:46):
minimize costs, minimize staff. They didn't even buy the building,
they just wanted to lease a building and all their
other plants. That organization only had five hundred there, and
at that time we had about eight hundred and fifty
nine hundred. They're cutting more. At that point I went
into high motion high gear because I got downsized in

(18:08):
that big cut back into an individual role. My pay
was over the salary range for that group that I
was put into. I'm like, it's a matter of time, Yeah,
I have to execute something else. That's when I looked
really hard. I went to some seminars, various things too,

(18:29):
and at the end of the day I had a
couple of things I was looking at, but I narrowed
it down real estate. That just seemed to be the
best thing to go. Yeah, you could make money multiple ways.
I could potentially build that up to just replace my
W two job. Sure, that was the plan, and it
got funny though. We started our business in March of

(18:50):
two thousand and five.

Speaker 1 (18:52):
Oh Lord.

Speaker 2 (18:54):
In May of two thousand and five, I got a
phone call. It was a guy I used to work
with at Bell Helicopter, and he had been made a supervisor.
He was the only master scheduler left in for Worth
his previous management before that day. When he called me,

(19:14):
he said, Hey, we've got this other software and stuff
that can make all that that. We don't need a
bigger staff. Well, that management changed because that wasn't working
out well. And the manager that came over him then said, hey,
you're now a supervisor. I want you to rebuild a team.
You need to have a team. And so he called
me and said, hey, would you like to come back.

(19:36):
I'm like, hey, I'll come talk to you because I
was in something that I was there. I think another
year maybe right, and we'd already started in the real estate,
but that came up. Sharon and I talked for a
little while. We went over alternatives and all, and it
made sense to take that job. Is going to get

(19:56):
me in a better place. I wasn't going to be
paid over the range. I was going to have a
chance for upward mobility, all of that. At that time,
she was working in a contract job. What ended up
happening is I was planning on replacing my W two,
but in reality, at that end, we sort of switched spots.

(20:19):
Sharon took the W two, This took out went out
of the W two world, and I took the new
job and went back to back to Bell Helicopter, and
I've been there ever since.

Speaker 1 (20:29):
So as family, isn't that where you started Bell Helicopter.
Isn't that what you said?

Speaker 2 (20:36):
Right back where I started?

Speaker 1 (20:37):
Oh my gosh, that's incredible.

Speaker 2 (20:39):
So the way I've told people when I came back,
it's sort of funny in a way because when I
came back for several months, it's like every corner I turned,
I'd run into somebody I knew when I was there before. Yeah,
Or I'd run from people I knew, running too people
who I knew from Boeing, some of those that had
to leave the company when we downsized, and I was

(21:00):
all these people. I've been around so long, so it
was cool. It was really fun to be back. And
here's the irony of all of it, that is my
favorite part of it. Right now, we are working on
the next generation of the tilt roter. It's the next
generation that V twenty two they did when I was
there in the eighties, and it's cool to be there

(21:22):
and it's fun. We did meet our objective. Though initially
I was going to replace my W two with the
real estate. It ended up replacing Sharon's W two with
the real estate, and I kept working. Yeah, I loved
what I was doing. I was there at a great
time and really I'm just getting the point these last

(21:43):
couple of years. I'm saying, you know, it's about time
to plan my exit. And that's but we hadn't looked back.
Sharon was the full time real estate professional. I'm not
talking about a realtor. She's the one focused on that
is her job, day job. I helped with it all along,
so we were we were in total partnership doing everything
we did, and I don't regret a bit of it

(22:07):
because we're positioning ourselves to be in a wonderful place.
To imagine you know, some people worried. I don't want
this to happen. Hope to God nothing happens to social
Security and medicare for people who retire. We're going to
be in the place we don't have to worry about it.
It won't matter, right, we don't want anyone to suffer that.

(22:29):
But we're going to be fine no matter what they do.
And that's ath we're hitting down.

Speaker 1 (22:35):
I think. I mean, well, I think you know, a
lot of people have I have said, you know that
social Security is going to be a thing of the
past in a very short period of time, especially if
we don't get debt under control in this country. But
you know who knows I think, uh, you know, Grant

(22:57):
Card owns a buddy of mine. I keep hearing him
talk about, you know, and other people talking about, you know,
ending the FED and a lot of other things. We'll
see what happens. Well, it's it's I think twenty twenty
five is going to get interesting when that. Yeah. So,
but you know, talk about I know a lot of people,

(23:21):
a lot of people in the real estate space. In fact,
I remember when I was sixteen, maybe fifteen sixteen, my
brother in law got you remember the old Carlton sheets.

Speaker 2 (23:34):
Oh yeah, a lot of people started there.

Speaker 1 (23:37):
Yeah. And here's another buddy of mine, former owner of
Little Giant Ladders, Doug Wing, And he says that, you know,
real estate is the way. Amen. So so talk about
how you got into you know, you got into the
real estate what like, there's so many dis I mean,

(23:58):
where you flipping house? This is? Were you doing multi family?
Where you buying duplexes? What were you doing in the
real estate space in the beginning?

Speaker 2 (24:08):
Well, the first thing in this most important decision for
anyone to make, and I don't care if it's just
real estate, it could be some other thing. Learn what
you're doing. Go find the people that can help you
learn how to do it. You don't need to be
exploring and making all the rookie mistakes all by yourself.
You need to avoid the ones you can. And so
we hooked up with a group it's called Russ Whitney

(24:30):
out of Florida, and they had a training program and
we elected to start. We were going to start with
single family. Why do most people, the vast majority of
real estate investors over time usually start with single family.
Why it's something you understand. You may have already bought

(24:50):
a house before, and it's pretty easy to get into
if you have decent credit. So there's lots of avenues
there to get started and all you're not going to
probably jump into immediately multimillion dollar apartments or office buildings
or anything like that. It's easier there. So that's what
we did, and we went through a number they had
a number of training things and they went through a

(25:12):
lot of different areas of it. One of them is
the flipping wholetsaling they call it. In that group, you
can also do stuff where you turn around and finance
somebody into the house. And what we initially started to do,
we wanted to take these houses, retail them out and
actually look for a buyer or someone that would eventually

(25:34):
own it. And that's what we started doing. Well, we
started no five, what happened in seven eight?

Speaker 1 (25:45):
Look at it and you got really really rich.

Speaker 2 (25:48):
No, it didn't do that. That's everybody was in struggling.
People that were going to buy these houses from us
had very hard time getting a loan. Well, that ain't
gonna work, So we just sort of moved over to
biden hold strategy. We're just going to buy and hold it.
And work it until it made sense to sell it

(26:10):
or expand or whatever. So that's what we did. We
had adjusted real quickly to that. It played off well
and we got some really good deals on houses. The
best deals we got in single family were in eighth
nine twenty ten. At one point we were picking up
hud houses. It was really went well and we had

(26:32):
no complaints. We were doing fine. But then we were
sort of hitting another wall that came twenty twelve, twenty thirteen.
You know, a lot of people weren't interested in real
estate and Texas as much back in five six when
everything was hot across the country. They would rather go
to Vegas or California, whatever, because you were getting double

(26:55):
digit appreciation and you can make a lot of money.
Texas was boring. Typical appreciation was four or five percent
a year, and it wasn't as exciting for people to
be in. But in eleven twelve, twenty thirteen, we started
having double digit appreciation. And so there was one day

(27:17):
in twenty thirteen I sort of did a calculation. We
had stayed sort of small, ten houses or less. We
would turn some occasionally and get others and all just
because we were still raising a young daughter and involved
in her life and a lot of things happening. But
it worked for us. But then we were ready to
scale up. Let's scale up. We need to get bigger.

(27:39):
And I did a little calculation. I said, all right,
to replace my W two at this point in time,
how many houses we need? And I came up with
a number. I think it was thirty three or thirty four.
And we're sitting there. I think we had nine at
the time, and I'm like, with this kind of appreciation
going on, Sharon was thrown out offers every week and

(27:59):
almost everyone and the come back and got sold. They
just disappear. Wow, that houses that need thirty thousand dollars
worth of work, or sell them for retail price, right,
And you can't do that in single family world. You
have to buy at a discount. If you don't get
the discount right, you won't make money.

Speaker 1 (28:16):
Right.

Speaker 2 (28:16):
And we had a discipline in place, which is good.

Speaker 1 (28:19):
Now you're talking about if you're flipping them right.

Speaker 2 (28:22):
Now, I'm talking about even to just buy them and
rent them out and hold them. You could do that,
but the problem was on the buying end. It was
very hard to get the appropriate pricing unless you really
got into the very low end, and we were trying
to stick with seventies eighties and mid seventies to mid

(28:42):
eighties houses. It worked, We worked well with that, and
we would have loved to just build more to get
more of them. But when you're paying retail price for
something that needs a bunch of rehab to it, that's
not a good formula. You're not going to you could
long term, if you have the cash flow from other
places and you've got money to invest in it long term,

(29:04):
you could have still worked that. And that's what I said, Hey,
this is gonna be when we have slug it out.
It's going to take a while because of the pricing.
And that's when we came back and had a little conversation,
said maybe it's time to put them under one roof.
We had talked very early on in O five that
we might look at apartments someday. Well, that day arose,

(29:28):
and so in twenty fifteen we got involved in apartment
investing and have never looked back, and it's it's a
whole lot better. There's nothing wrong with any part of
real estate. There's nothing wrong with single family houses. You
can do that and do well, we wanted to scale up,
and if you really want to scale the multifamily space

(29:52):
makes a lot more sense because in that area, you know,
it's like I've explained to single family investors before, is well,
why do you want to do that?

Speaker 1 (30:01):
So?

Speaker 2 (30:02):
Well, could you buy every house on one block have
them all right there next to each other? And of
course you can't. That's just not possible unless you're doing
build a rent type thing, building them from scratch. You
can't do that, I said, But that's like, that's what
an apartment's like. You can go to one site and

(30:22):
have one hundred to two hundred units right there on
that property. You can bring in it's at scale, so
you can bring in professional property management that actually run
the day to day. You become more of the CEO role.
You are the one that gives the direction, puts the
plans together and is responsible. But you don't have to

(30:46):
be there every day dealing with each tenant as they
come in and worrying about the detail. You have people
that do that for you.

Speaker 1 (30:53):
It's and you said you started that in twenty fifteen ish.
So Doug Doug's comment on the screen, I don't I mean,
I don't know how many they have. I know they have.
Him and his two partners have thousands and thousands of
apartments and you know, they're they're just killing it. And

(31:16):
that's he said. They own their own property management company too,
which is which.

Speaker 2 (31:21):
Is that's another way to vertically integrate and just and
do more. That's yeah, number of operators that do that.
But the big thing is you're getting into something that
you scale more, you make more money, and you're not
having to run over to that property every day to
take care of everything. Right, it just makes so much sense.
We've been in at this point eighteen eighteen different multi

(31:45):
family investments, about half of the turn and gone full cycle.
And it works. And it's a little tighter the last
two years. It's harder now, but you can still get there.
And here's the good news. Why I think this is
the best place to be and now it's really two reasons,

(32:06):
but here's the best reason. Right now, there's virtually no
new construction being planned right now on apartments in most
parts of the country. They're just not planning new ones.
You go drive around, you'll find some that are being constructed.
They're already in process. They're building a hole right now

(32:27):
not planning to build more. We don't know exactly how
long that will last. Year, two, three, we don't know.
They're creating a hole that's going to be there three,
four or five years out. So that's right now. We're
excited about this coming year. This is the best time,
could be the best time ever, because we feel like

(32:48):
we're back when we bought some of those houses at
great prices in the Great Recession. We're almost in that
same place. And we know there's not enough housing in
Texas DFW we live. They never caught up from the
shortages from the Great Recession, right, and they're not building
more apartments now.

Speaker 1 (33:08):
Well, I'll tell you ever, I live in Soalina and
they are definitely building apartments here like you would not
be leave. It's insane.

Speaker 2 (33:17):
Yeah, there's well, I'm right here in Denton. There's about
four or five significant large complexes in the process of
construction now. Yeah, but the but the actual starting to
plan a new one from scratch, getting the land, all
of that stuff, that's where it stopped. Yeah, that creates
a hole later on. Yeah, that means guess what, they

(33:40):
built a ton of apartments up through now they're finishing
out some now. Yeah, those eventually fill up, probably fairly quick.
Dallas is one of the fastest growing metroplexes in the country.
It is percentage wise, they'll fill up, Yeah, but if
they don't start building more, Now, what does that mean
for four or.

Speaker 1 (33:59):
Five years out right, you will.

Speaker 2 (34:01):
Have another shortage and it will create, as one person,
a big operator. We like to deal with some The
group I'm part of is out of Madera. They're out
of Lubbock, Texas, and one of the key acquisition guys
at that place was an event when we were just
a couple of months ago, and he's saying, you get
into stuff now, you're gonna have a lot of tail

(34:24):
winds four and five years out. They don't make it,
make it better and you don't have as much risk. Yeah,
with the high when we had the high interest rates,
the higher ones than now, and when the inflation was
so high, that's sort of a scary time. We seem
to be have gone past it. I'm not sure it's

(34:44):
totally over yet. We could see a second wave maybe,
but if we're past that, then we're we're gonna be
going to a really good time coming up.

Speaker 1 (34:54):
So yeah, Well, Shirley says, And it's funny as she
asks this question, because I talked to a guy last
night about this. Would it be a good idea to
invest in fifty five plus housing. I'm really good friends
with Vinnie Chopra, who's very well known in that space,
and he's kind of a legend when it comes to investing,

(35:19):
but that he has a lot of the I don't
know what they call him extended care. I'm not sure
what they I always called them old folks homes, but
apparently that's not what you call him anymore.

Speaker 2 (35:34):
Yeah, it's a specialized area and there is room for
that because there's a lot of people that are going
to need a place to live.

Speaker 1 (35:41):
In all Yeah, baby boomers.

Speaker 2 (35:43):
Sure. For me personally, I said, where's my greatest advantage.
There's a wave of people in the younger generations coming along.
I like being in just the open, open, multi family,
not constrained by anything else, not assisted housing because it

(36:04):
puts other constraints, and it also it's not typically they
don't move as easily when you want to sell, when
you're ready to sell, So that for myself and my
partner Sharon, we'd like stand into the basic apartment space.
It's going to go to the general public, and it's
few constraints as possible, and that gives our options open

(36:28):
to be able to hold it as long as we
want to and when the time is right, to be
able to move it easily and sell it. And that's
I know a few operators that are in the Senior
Families senior living space, and they have told me and
noted that well, you know, it takes a little longer
to get the transaction done.

Speaker 1 (36:49):
I think, you know, I look at my brother in
law and then his son, my nephew. My nephew was
an F sixteen pilot for I think he retired, you know,
after twenty years. But he you know now he flies
for Delta, but he could he could walk away from
any job that he wants. My this is my you know,

(37:10):
forty year old nephew or thirty eight year old nephew
that he could walk away from his job right now,
because he's already you know, he's done very extremely well
in and and and again. Now I know that, you know,
I don't know what what my brother in law has anymore.
I think at one point it was in the five
hundred door range, but they were mostly you know, single

(37:35):
family homes and duplexes and triplexes and quads and and
and you know his son followed in that same path.
And then you know, I've had conversations with him because
I have friends like Doug Wing and and you and
Sharon and Grant Cardone and Vinnie Chopra and all these
people that are doing and and Hua and Ji May

(37:59):
who are our good friends and you know that are
doing all these big syndication deals. Are you you guys
doing syndication deals.

Speaker 2 (38:08):
Yes, that's everything we've done has been a syndication. And
we've been in different sizes though we've been in as
little as eighty eight units up to over we got
one we're in right now that's over four hundred and wow.
To me, my preference is more in the middle. I
really would like, you know, right now, with the pricing

(38:29):
had gone up so much, per door was high enough
and all that. Right now, I think we're trying to
focus more than one hundred to one hundred and fifty
range and own more, maybe own more properties, but keep
them a little smaller. Part of that is the reality
of raising money for it, because it's a lot more
money involved. More per door When we started, you could

(38:52):
get Class C apartments anywhere from like sixty seventy k
a door. Now it'sarticularly in the Metroplex, it's one hundred
and forty one hundred and fifty a door or more
depending on what it is. And also it's a lot
more expensive per door. And of course, you know you
have the challenge. Now there's a lot of people that

(39:13):
don't see the opportunity that's out there or may just
not understand it, and so there's a lot of people
running scared. In fact, at one point last year we've
been actively pursuing deals. We had one of the brokers
tell sharing that people out of your mentor group, hardly
anybody's doing anything. A lot of them are coming out

(39:36):
of Grant Cardons group, the ones that were actually going
out there and buying properties, and I thought that was surprising.
But things are starting to turn even in the group
we're in, and it's you have to be committed to
it and understand what you're seeing. But the opportunity is incredible.
And the big thing too that some people don't understand.

(39:58):
You know, you can work yourself to death W two
and you'll pay forty percent of your income in taxes.
You think, oh, I'm so smart, I'll become an expert
in something. I'll go out and be an expert, so
I'll work for myself and be self employed and I'll
make more money, which is true, but you're going to
pay sixty percent somewhere in that order in your taxes.

(40:20):
So then you start saying, well, how do I do
something smarter than this? Your next logical thing is to
start thinking about how does a business operate. A business
pays tax on their net operating income. They take out
most of the expenses, and especially that one special thing
that's really terrific on any kind of real estate is depreciation.

(40:44):
You can get depreciation. All that lowers your tax footprint.
If you own a business, you'll typically pay twenty percent taxes.
If you invest and do it well and learn what
you're doing and really get after it, you can actually
pay zero taxes. What else gives you that opportunity. It's like,

(41:10):
that's a no brainer decision to me, And we have
greatly reduced our taxes through the depreciation. We had the
twenty seventeen law that came in. Starting in eighteen, you
could take one hundred percent bonus depreciation. That means all
of the stuff in there, the fixtures, the flooring, all

(41:32):
of the various appliances, everything, the contents of that apartment.
You could get one hundred percent of the depreciation in
your one that's been starting to phase out right now.
There is a chance an opportunity that with the new administration,
they may try to come back to that and extend it.

(41:54):
We didn't get into real estate because of that because
it didn't exist back then in this space regardless, but
that's an extra bonus that could really really reduce your
taxes and have a huge impact to what you can do.
And I can't overstate the opportunity that Sarah.

Speaker 1 (42:14):
I mean, you know, I don't think the I guess I.
You know, I had the great Brian Tracy on the
show several years a couple two, three years ago, and
I remember Brian, you know, he's a legend, and he's
like when he was talking, he's like, you got to

(42:36):
write it down, write it down, write it down. He's teaching.
He's always in teaching mode, even if he's on a podcast.
And I said, Brian, here's the thing. You know, all
of these people are gonna are going to hear what
you're saying, and they know, and they're deep in their
soul that you're right. They need to do these things.
But at the end of the day, ninety nine percent

(42:58):
of them aren't going to do it. And they know
they need to, but they're not going to do it.
They know that that's the path to success, it makes sense,
it's logical, but they're not going to do it. And
I said, how do you get those people that are
like that? How do you get them to change and
actually start doing the work. And he goes, and I
was waiting on this brilliant answer. He goes, you can't.

(43:22):
I'm like, that's not a brilliant answer.

Speaker 2 (43:25):
Yeah, what is a commitment?

Speaker 1 (43:28):
Yeah?

Speaker 2 (43:29):
And sometimes people have to be triggered by something to
wake up to a large degree, That's what I experienced.
There are certain things that happened. I wasn't on the
street with no money and no place to live. I
never hit that level, but I had enough things happened
that made me think, hmm. And what really drove me
when we got sold that time, when Boeing sold is

(43:51):
I'm like, I don't want to go to a new
company and have to start over, build your reputation, all
of that stuff I was getting at an age at
that point, and that I don't want to just reh
have to rebuild everything. I want to move to the
next best thing. And and so that made me really
think through it and saying, just sitting here, and there's

(44:16):
something I put in something I kicked out a while back,
that you're never secure. As long as you're relying on
a W two job, you're never secure. Something can happen,
that company can go down in an instant. I mean,
think of all the different companies you've seen that aren't
here anymore.

Speaker 1 (44:36):
In eight oh nine, my wife, we weren't married at
the time, that's about when we met, but she was
the global vice president of marketing for two different five
hundred million dollar plus companies in her career, and in
eight or nine, right in that that timeframe, they were

(44:57):
bought by a venture capital company. Her and entire marketing
department was eliminated and outsourced, and and and here she
was making a really really hefty salary, and and and
and and in that if you remember during the crash in

(45:17):
in those years, there was nobody she has a blue
blood resume, nobody's hiring VPS of marketing in eight and nine,
so overqualified, right, and and and so that's when we
started dating. And then I'm like, you know, you're kind
of unemployed, and I have this web development company, and

(45:39):
it would just make sense. And so now we run
our businesses together and and it's it's it's wonderful and
we don't have to have that W two job, thank god.
And I can't you know, I've been an entrepreneur in
my entire adult life. For the most part, I make
a horrible employee. And and you know, I always try

(46:00):
to encourage people to look a little deeper. There's something
in there that's that's driving you. But I want to
ask you a question about your your your y'all's strategy
when it comes to let's say you buy through a
syndication deal, you buy a four hundred door complex, and

(46:21):
is that something that you buy and then you know,
is your strategy, I'm going to buy this and flip
it in the next two years, or I'm going to
buy it and sit on it for seven to ten
years or twenty or what's your strategy.

Speaker 2 (46:34):
With that strategy we're going to follow is not to
sit on it forever. My impression of apartments back before
I knew anything about it through the years is I've
known of people did own apartments and they just own
it forever just about and yeah rightfi Okay, every ten
years or so they'd refine, get more money to rejuvenate it,

(46:56):
rehab whatever was needed to improve it, because I don't
care what you're living in. Once you're there about five
years or so, it needs improving again. It needs to
be repainted, it needed, things need to be done to it.
And the big incentive and people do it different ways,
but you can get some pretty good loans out there,

(47:17):
and some of them it changed a little bit the
last two years in some of the government back loans
Fanny made Freddy Mack, if you went back to when
we started in twenty fifteen, you could include your capital
improvements in that in that loan. You still had you know,
you still had come up with a down payment and
all that, but it was it could cover part of

(47:38):
the cap X and that made it a great advantage
because you come in with that loan from the beginning,
you got money in that loan for the capital improvements.
At that point. The key is you're probably going to
spend that in the first two to three years, and
that's going to improve things. It will help your your

(47:58):
apartment draw more people. They'll be willing to pay more
rents because you improved it. You other things you've done
operationally to make it a better business. I mean, you
buy an apartment based on the net operating income. When
you're ready to sell it, it's going to be based
on the net operating income. So your job is to

(48:19):
take it and improve it. Make it a better community
than it is today, improve it where it needs it,
fix things that need to be fixed, get it in
a better place, and it'll be worth more money. Yeah,
the money you have for that loan is going to
run out as far as covering the capital improvements at
some point. Then you've got to make a choice. You

(48:39):
can sell it at that point, which typically has been
like four or five years, about five years out. We've
seen some that went shorter, some that went longer, but
that's about about five years. Then you can just sell
that and go to the next one. And guess what,
somebody else, whoever you sell it to, will get along
and come in and they will use use some similar

(49:01):
model to do about the same thing. Take it where
it is. Improve it, fix the things that have deteriorated
or wrong, take it to the next level, and it'll
be worth more. That's one way of doing it. Now,
if you want to hold it longer, that can be done,
and some people do that. And what we've seen over
and over, we've been in eighteen deals. Half of them

(49:24):
have turned for full full cycle. I'm saying the five
year range. Some went faster, some went a little longer.
I have one right that's going to sell in the
next few months that will have been in it be
ten years next September, but it'll sell before then. But
most of them have been in at five range. And
to me, ensuring that makes sense. Do everything you can

(49:49):
with it to improve it. You're basically buying a business.
Now improve it, get it running real smooth as best
as you can do. Improve everything you can. Now it's
worth more money, then sell it. Somebody else can come
back and take that model, or if they want to
hold it forever, that's their choice, and we can go
from apartment department and have more assets as we go

(50:12):
and get where we need to be. We've had a
total of thirty five hundred doors or so so far.

Speaker 1 (50:21):
What is it, you know, because I again don't I
don't keep track of what Grant is doing and how
big is operated. I know it's gotten massive, massive.

Speaker 2 (50:35):
You know.

Speaker 1 (50:35):
Last I heard he had over ten thousand doors. That
may be even higher than that. Now, how would somebody
like you and Sharon or or anybody like me, or
anybody that wants to go to that cardone capital level

(50:56):
or to you know, really go I want ten twenty
thousand doors in my portfolio? How does somebody do that?
What's the what's the do you know the secret to
doing that?

Speaker 2 (51:07):
It's not real secret. What we've been involved in strictly
is syndications. It's group purposes. It's really group right now.
Grant Cardon and a lot of what he's doing is
more of a fund Yeah, and I know he coaches
a lot of people. I know some people have been
coached by him that are doing some of those things too,
and they're going to but they'll be on their own

(51:28):
doing stuff. They're not necessarily just investing in grants funds.
His main funds, I think behave more like a rate
where you can put your money in and it's almost
like putting it in the stock market. It will increase
in value over time. If you go that route, you
may not If you're just a participant in it, you

(51:50):
may not get the depreciation that might not be fed
to it. The key for us is we're doing strictly
in syndications, and syndications you get a share of that.
Every limited partner gets a share of that. Obviously, the
general partners that run the deal get more a bigger
share of it, but they have a chance to actually

(52:10):
get through k ones. They get their percentage of the
depreciation to help them out too. We're really committed to
that model. And I'm not sure that Grant does that
a lot. He may be teaching something to do it.
I don't know. But I don't want to just be
in a fund. I can put a fund in a reap.
But and a lot of the stuff you see on
the internet coming down all the time is you get

(52:33):
out there and you'll see see you know, come join
this fund. And a lot of the stuff on your
text you get every day say that go get into
real estate. By no, No, I don't want to be
in real estate unless I get the depreciation.

Speaker 1 (52:47):
Yeah right, No, I get it. I mean that's what
makes the most sense and Again, I don't know what
Grant's doing specifically with all of that, but you know,
he's a shaker and a mover and the and a
lot of people hate him, you know, And but I think.

Speaker 2 (53:07):
I've heard him speak several times and I have nothing
against him at all. I love his story becomes from
a hard a hard story where he did have a
situation where he had to worry about being able to eat.
Becomes from a very hard luck story from his early life. Yeah,
I admire him for his his resilience to get where
he is. And when you see someone who's accomplished all that,

(53:31):
you got to listen to him. You got to pay
attention and respect it. And doesn't mean you want to
do it exactly like them.

Speaker 1 (53:37):
Yeah, no, No, everybody's got their own path. But I now,
are you and Sharon, are you guys doing any educating
folks on on all this?

Speaker 2 (53:48):
You have to always be doing that. Now we don't
have our own podcast. I don't know. Sharon may evolve
to that pretty quick, who knows. But but education is
the key there. You got to develop. Bottom line is
if you're going to be in sindecations, you need limited
partners that want to invest So there is education comes
with it. You have to be teaching people, helping people

(54:09):
understand how it works. Yeah, they don't understand how it works.
They probably shouldn't be investing in it in all the truth.
But there's so much out there in the real estate space.
We will probably expand at some point in the next
few years to do starting to think of some other things,
maybe like storage buildings or some other things that still

(54:31):
real estate but diversify a little more.

Speaker 1 (54:35):
But I have a friend he may actually be watching
right now that I know. I don't know the numbers,
but he's doing millions and millions and millions in the
storage space. I mean he's doing some you know, from
the ground up. Okay storage stuff too, so, but he's

(54:59):
also buy some existing ones. But that man to me,
I have a storage unit because houses in Dallas are
smaller than they are in Ohio. For the I mean, well,
the money part is it's literally double the price here.
But you know, when when when we moved here, I'm like,

(55:19):
she's we got more stuff from our old house that
won't fit in this new house, and so I had
to rent. And I'm like, and so I just started
doing the math and these are cheap. I mean, they're
not probably not cheap cheap, but I'm like, wait a minute,
this is this is insane because like I'm paying almost
two hundred dollars a month for a little box and

(55:41):
there's like six thousand other little boxes in this complex,
and I'm like, this is crazy. Somebody is really cleaning
up here. This is nuts.

Speaker 2 (55:51):
It's that we haven't really dug into it yet. As
with everything else, we need to go learn first. Yeah,
but it is and it's more cashwar and you get
more of a monthly cash flow out of it, and
whereas the apartments, it's a longer term investment. It really is.
And to gain the ultimate growth and wealth and networth

(56:13):
and all of that, it's a longer term process. And
we're mainly because in the last two years, with that
high inflation and stuff, he said, well, you know, it'd
be nice to have put some money in some other
things that are more more cash flow oriented, and so
we're looking and considering some other options in that regard.
But that's just going to be the balance play a

(56:34):
balance against the longer term what we do in multi family.

Speaker 1 (56:39):
It's real life monopoly that y'all are playing.

Speaker 2 (56:43):
It is, and it's great, you know, having having that
apartment versus each individual house. At one time we had
houses from southwestern Arlington, that's south of sort of mid
cities between Dallas and Fort Worth is fort Worth had
one on the south side of Dallas in the suburb
down there, and we had them clear upt to Denton.

(57:04):
We're on the far northern extreme, so well, a lot
of times if it was down I have to work
in my day job. My w two's in Fort Worth,
so something was going on down there, Sharon called me
and said, I go by and check on it after work,
so we'd cover it that way where we could and
all but still it spread out, takes your time to

(57:24):
get there. And I had one of the best tenants
I had was a house on the south side of
Dallas where they paid me electronically, didn't have to go
out there very much. If anything was wrong with I
had a handyman I could send over there, and so
that was very low maintenance and I love that and
that was the best case. There were a lot more

(57:47):
cases in the single family space where we just had
to be there physically and do what we had to do.
And so we love our life now.

Speaker 1 (57:56):
I think you know people need to to learn from
people like you. And is there a way. Do y'all
have a website?

Speaker 2 (58:06):
Yes, we do. It's w w W.

Speaker 1 (58:09):
Hang on, I'm gonna I'm gonna put it up in
the thing here. Let me just get to that screen
and and throw it up here. Okay, it's w w
W dot x Caliber.

Speaker 2 (58:20):
This is spelled funny. E x c A l I
b r E.

Speaker 1 (58:26):
Hold on c A l I b r r E.

Speaker 2 (58:31):
Texas Texas dot com, x Caliber Texas dot Com.

Speaker 1 (58:38):
I'm gonna throw it up on the screen here and
you tell me if I got it right or not.
There there comes you got it perfect awesome b r E.

Speaker 2 (58:49):
Yeah, somebody had early stole the spell of the b
u r that you saw in X Caliber of the movie. Yeah,
someonell that and had that, so we had had to
flip a few letters to make it work.

Speaker 1 (59:01):
That happens. That happens. So everybody go over to ex
Caliber Texas dot com. That's e x C A l
I b r E Texas dot com and chat with
with Dan and or Sharon. I now can say that

(59:21):
I know both of you. I've known Sharon now for
I don't know, a year or two and but you
you guys really got it going on. That's that's really,
that's great, great stuff.

Speaker 2 (59:32):
When they go on that website, there's an opportunity to
leave their contact information and make an employment.

Speaker 1 (59:37):
Yeah, so we can get.

Speaker 2 (59:38):
Back with them and talk to them and see where
their next step is. If they're a beginner, we can help.
If they're much more experience, but we can help, you know.

Speaker 1 (59:48):
Yeah, so awesome.

Speaker 2 (59:49):
We just look forward to helping others discover what we have.
Have a daughter that went to a very good school
in Denver as no student that whatsoever. She's now working,
living and she's thinks she's in her dream job in
d C, Washington, d C. And I just tell her,
you go save the world.

Speaker 1 (01:00:09):
Wow.

Speaker 2 (01:00:10):
Our next investment we do. We're putting together a new
LSC where she will be a fifty percent partner, equal
partner with us to invest in real estate. She's the
first event, big event she went to and the group
we're in, Grant Cardon was the guest speaker, the second parer.
It had not just Grant Cardon, it had Robert Kiyosaki

(01:00:33):
there as well, which was exceptional. We got to have
our picture with him. Yeah, And before that was over,
she asked, can I have a picture with you? He
broke his own rules. He normally would not give more
than one picture to a family or group, but he
lights up when he sees a young person. He loves
to see young people, and he's yes, let's take a

(01:00:55):
picture of the photography said, but he said the We're
gonna do this, and she got her picture with him.
She was so excited. She was in her first job
up at DC out of college. I told her, who's coming,
She says, I want to go? And she offered to
pay her own plane ticket when she was Wow, very
little money coming out of school. Wow, if you're going

(01:01:17):
to do that, I'll do something I've never done. We
went VIP through the whole event so could eat lunch
around Kyosaki and Grant Cardone and the others there and
even and got that meet and greet with him. It's
just like she's convinced she is going to carry this
forward with the next generation of wealth in our family tree.

Speaker 1 (01:01:38):
You know, I got to say this and Grant Grant,
I mean, I've heard it forever. I've been in self
development for a long long time, and you know, the
people that you get around is that your network is
definitely your net worth. And you know, I'm writing a
multi author book. I think Sharon's planning on doing a

(01:01:59):
chat in it, and it's all about the power of
your network. And it's called the network effect. And you
know what, you just the story you just told being
around Robert Kiyosaki and Grant Cardone. I'm friends with Sharon
Lecter and you know, all of these other amazing people
that being around and teaching your children that like the

(01:02:23):
power of getting around the right freaking people. There's nothing
more important in my opinion when it comes to business,
and you talked about it earlier with Boeing and all
the different you were able to reposition based on making
some phone calls.

Speaker 2 (01:02:40):
Absolutely, And actually the funniest part of that is when
my daughter said I want to come, I said, well,
you hadn't even read any of his books, sip, Dad.
You've been telling me our house is not an access
it's an asset since we were I was six years old,
and I'm like, okay, right, they are paying attention. They

(01:03:03):
are help them turn the corner and take it to
the next generation.

Speaker 1 (01:03:08):
And I think that any parent watching if you have children.
You know, I don't know what the youngest ade, but
read rich Dad, Poor Dad.

Speaker 2 (01:03:19):
You know it's a great start. I love another book
he had. It's called Second Chances. I like that better
than the original and all the others because it went
into more detail of some of the wise how he
got where he was, and some of the people he
was around that he picked up some of this from.

(01:03:39):
And on the fact. The only thing shocking about Robert
Kyosaki when you first meet him, his language may surprise you.
But found I found out real quick though. I realized
right off the bat he's a salty marine. All of
that makes sense. In fact, my favorite time last time
I got seem an event two years ago. He came in.

(01:04:03):
I said, I told him, hey, I worked for a helicopter.
You flew one of our birds. He flew Huey's in Vietnam.
And he just really And he's getting older now he
doesn't get around as well. But talk about the influence.
I don't agree with everything he says, but sure some
of those concepts can change your life.

Speaker 1 (01:04:22):
They can, they will if they will if.

Speaker 2 (01:04:26):
You decide to take some action and do it.

Speaker 1 (01:04:29):
That's right, that's what it takes.

Speaker 2 (01:04:31):
It's work, yep, but it brings off a lot better
than that W two job.

Speaker 1 (01:04:37):
I mean, you know, I yeah, I agree. I think
that if if people want to learn how to build,
you know, part of what your your bio that you
sent me for to be on this show was about
building generational wealth, you know Grant Grant says it. You know,
his kids. I interviewed him the day after he did

(01:05:01):
Undercover Billionaire. I was the only one that was given
that opportunity, and it was phenomenal and and and you
know what we were talking about. There was a point
where he was flying his jet. He has a nice,
really nice golf stream uh seven high or six fifty
I think, or maybe five fifty, I don't know. But

(01:05:23):
he's flying his kids and his family around the world.
They're just going to Dubai in different places. And and dude,
I saw the the real you did with your kids
getting on the jet, and he goes, can you believe
that shit?

Speaker 3 (01:05:37):
Man?

Speaker 1 (01:05:38):
And I don't know, he goes, he goes, I can't.
I can't even imagine. Like my kids are, they don't
know anything outside of that. So like they're you know,
we can we can we can really we can really
touch the minds of our children and help them, you know,
expand their thinking and and and leave. Generational wealth is

(01:06:00):
not necessarily about just the money. It's about the mindset
and it's a it is man. I'm so Daniel, you Dan,
you told me to call you Dan. You know, I
think you're phenomenal, and I'm so grateful that you came
on and invested the time today. It's been great.

Speaker 2 (01:06:22):
Well, it's a great way to sort of close out
the year, and with anticipation for a new one.

Speaker 1 (01:06:27):
I'm pretty excited about the new administration coming in in
twenty twenty five and everything happening because we got to
go up from here.

Speaker 2 (01:06:40):
Yeah, I think there's a few foundational things that are
in a good place, but they don't feel like it.
You know. The problem with that inflation the price stated
where it was, it didn't come back down, and it
won't unless we have a big recession or something, which
we don't really want that either. So there's a lot
of adjustment going on. But I think we need an

(01:07:00):
a new focus.

Speaker 1 (01:07:02):
Yeah, we sure do, We sure do.

Speaker 2 (01:07:04):
Well.

Speaker 1 (01:07:04):
There's been over We've had about twelve thirteen hundred people
watching us live over on x SO. I don't know
if you're on x or not, but if you're not,
get on x.

Speaker 2 (01:07:17):
You can find me on LinkedIn and Facebook. Insuran's out there,
I think on Instagram also. Okay, I haven't been on
x SO, but you can readily find me on LinkedIn. Yeah,
you can see me there or on Facebook.

Speaker 1 (01:07:33):
Or just go to the website x aliber Texas.

Speaker 2 (01:07:36):
Go to the website, leave your info and I call you.

Speaker 1 (01:07:39):
Yeah, that's right, that's right. Well, Dan, thank you so
much for being on today. I'm going to wrap up
the live stream if you would stay with me though,
we'll chat for a few minutes afterwards. But thank you
to everybody who's been watching and shared this out, and
thank you so much. I really appreciate it. Dan, thank you,
and Happy New Year.

Speaker 2 (01:07:59):
Happy New Year to you and Ken as well. Thank
you for the opportunity to be on.

Speaker 1 (01:08:03):
Yeah, thank you. All right, hang on, I'll be right
right back with you, So we'll see you guys later,
and everybody watching, Happy New Year and we'll see you
next year.