December 3, 2024 • 53 mins
Journey with us as we welcome the remarkable Cliff Nonnenmacher to the Everyday Millionaire Show, where he shares his captivating story of entrepreneurship and finance. From his determined beginnings in New York, where he discovered his entrepreneurial spark by raking golf balls, to building a diverse portfolio of several companies in Florida, Cliff's journey is nothing short of inspiring. He opens up about his leap into the world of day trading and his transition to Wall Street, providing valuable insights into the financial industry's evolution and the nuances of wealth management.
In our conversation, we explore the unexpected crossroads of criminal justice, forensic science, and real estate, revealing Cliff's pivot to real estate investment and the compelling allure of franchising. Join us for an engaging episode that promises to reshape your understanding of entrepreneurship, finance, and personal well-being.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to the Everyday Millionaire Show with
Ryan Greenberg and Nick Kalkis.
Alright, guys, welcome back toanother episode of the Everyday
Millionaire Show.
We're here with CliffNonnemacher.
Did I get that good?
You nailed it Alright.
Sometimes we got people witheasy names, sometimes we got
people with hard names.
(00:20):
That one's not that bad, though.
Cliff.
Where are you coming from today?
Speaker 2 (00:24):
I live in southeast florida, so I'm a boca del rey
area of florida.
I'm a new york, new yorktransplant, but I live down here
now.
Speaker 1 (00:32):
Just like many, I am also a new york transplant, but
I didn't make it that far south.
I uh yet.
Well, kind of, I have a housein tampa, uh, but I we live in
Maryland, but my race thisweekend was just in Miami, so I
wasn't too far from you.
Speaker 2 (00:48):
Nice.
Yeah, it's a great area.
Speaker 3 (00:50):
How long have you been down?
Speaker 2 (00:51):
there I lived in New York.
I moved to Marco Island, goingto the Gulf Coast in 1988.
And I became an investmentbanker in that area.
I was with Solomon SolomonSmith Barney at the time, which
is now Morgan Stanley, and thenI had an opportunity to purchase
(01:12):
my first franchise and I boughtthe master franchise rights for
the entire state of New Yorkand Connecticut, moved back to
New York, sold it, built it,sold it and then moved back to
Florida in 2011.
So, back and forth, more thanhalf my life, uh, has now been
in in florida yeah, that's newyork's a tough place to to stay.
Speaker 1 (01:35):
Just the people, the weather it's it makes it.
It's a great, it's aninfectious place, but it's tough
to stay there for a life fulllife.
Speaker 2 (01:45):
Listen, I have a rule .
Look, this is a wealth show,right.
I have a rule and the rule is Iwill never reside in a state
with a state income tax.
It's like never going to happen.
So, I don't care how beautifulthe state is.
Ie California.
I will never reside there.
I will never invest in thatstate.
I won't put a dime into it inany capacity.
Speaker 1 (02:07):
Luckily, nick and I don't make any money because
we're real estate investors, sothat's how we do it.
But yeah, maryland's notexactly the most tax friendly,
but there is opportunity here,so that's why we stay, listen
exactly Once you figure out.
Speaker 2 (02:23):
okay, this is the hand I've been dealt.
I like it here.
Raising a family here.
How do I navigate around thetax inefficiencies of the state?
You guys nailed it right 1031,all your tax exchanges and all
your creative ways of not makingor not paying taxes.
Speaker 1 (02:39):
Yeah, yeah, exactly Good for you guys.
That's it, man.
So, starting on Wall Street,that's like, that's like a grind
right.
We've we've done a couple ofinterviews with some wall street
guys and they all, they allkind of have the similar story
what, what's kind of your?
How did you get up into finance?
Did you go to finance schooland that was always your track,
or did you kind of fall into it?
(03:01):
Yeah, great question, right now.
Speaker 2 (03:03):
So I've been an entrepreneur my whole life.
I've been an entrepreneur sinceI was a kid.
I used to rake golf balls ateight years old out of country
club you know ponds and lakes inthe woods and sell them, and
I've always been entrepreneurial.
I've owned 12 companies.
I'm now I'm going to be 53 soon, so I'm dating myself.
But now I'm going to be 53 soon, so I'm dating myself.
(03:24):
But no, I was not a goodstudent.
I did not like school.
I hated the idea of college.
I skipped it, made aninvestment, started buying some
water sport concessions I'veowned, you know, like parasol
boats and jet ski rentals andall catamaran tours, and I was
very heavy into the water sportbusiness.
I started what.
I wasn't smart enough, but Istarted what is now an Uber Eats
(03:47):
in Marco Island.
I used to deliver food for 16restaurants, pharmacy on Marco
Island, which led me to thewater sport business.
That's how I actually got inthat business and then continued
to scale.
I was a national distributorthe Fun Noodle, that little
polyneoprene tube you float onback in the 90s.
So like different things overtime.
(04:11):
But I was making money at ayoung age and I invested in a
satellite.
It was a DTN network this isbefore satellites were even a
thing and attach it to the sideof my house and it gave me level
one, level two, level threeinsight into buy sell side on a
stock.
So I started day trading.
I was so early in day tradingmy handle was blue chip, not
(04:33):
blue chip 157.
My handle was blue chip, whichis just crazy.
That's how early I was intrading.
I was probably 1920.
And I loved it.
Started trading stocks, startedmaking money, took my portfolio
to Wall Street.
I got offered jobs by everymember firm, from Raymond James
to Merrill Lynch to Smith Barney, and I accepted a position with
(04:55):
Smith Barney.
So I got involved in it bybecoming a day trader, which, of
course, they shit all over whatI was doing.
They hated it, right yeah,because they're all by hold.
They don't believe in timing.
They don't believe in any ofthat.
Meanwhile, fast forward,everything's algorithm,
everything is right.
Everything now is all abouttiming, trading, millisecond
(05:18):
trades.
So this is what they say.
They say one thing and they doanother on wall street, as you
know.
But that's how I got involvedin it.
I actually was with a team.
We managed around $250 million,which in today's dollars would
probably be close to $400million in assets, mainly some
institutional money likeretirement money, but mainly
(05:39):
high net worth individuals inNaples.
Florida is a very wealthy area.
Speaker 1 (05:44):
So do you think nowadays somebody could go to
Wall Street and get a jobwithout a finance degree like
you did?
Probably not yeah, I was goingto say that because that's an
interesting like you knowanybody that you hear now I feel
like that we talked to havebeen to like the Wharton School
of Business or you know whereverthey had to get their degree.
And then they go.
(06:05):
And I'll tell you what.
I went to college to be ateacher.
That lasted for a couple ofyears.
I was a teacher and I don't useany of those skills that I
learned in college now.
Nick, you went to college to dowhat?
Right?
Speaker 3 (06:20):
Yeah, I went to college, I got my bachelor's in
criminal justice and thenmaster's in forensic science,
high technology, crime to dealwith cybercrime, and didn't do
anything with it.
Speaker 2 (06:33):
But at least your degree applies to our current
situation, right, I mean thatdegree could be implemented like
right now.
I mean, who knew, who knew backthen that cybersecurity would,
that cybersecurity would be whatit is today?
Speaker 3 (06:45):
It's yeah, and it was , it was that degree, they do
nothing with it.
Yeah, and it was a brand newprogram at our school so, like
even the professors at that timewere just trying to like, get
through it and and try to teachus, at the same time, they were
learning what was going on withit.
It would have been a greatcareer to get into it.
To be honest, with all of thecyber stuff that goes on
nowadays and everything isonline, but I saw real estate as
(07:06):
something, you know, muchbigger than than that for me at
the time.
Speaker 2 (07:11):
I love real estate.
Speaker 1 (07:12):
It's funny because my actually now an equity partner
in our brokerage is um, and anda part of my business.
He was in the air force chase.
He's usually here with us onthe on our pods.
He does like a lot of stuffwith us and, uh, he went to the
nsa for cyber security and thenlasted a couple years and now
(07:34):
he's full-time real estate.
So it's uh, yeah, real estate's, real estate's our game.
So that's what we like talkingto people like you in stock game
, because I have my stocks andstuff, but I don't know much.
I don't do trading and I don'tthink Nick does either.
We kind of buy stuff.
Speaker 3 (07:50):
And yeah, besides that, you know, 2020, 2021 boom,
where everybody, everybody wasjust trying to get into the
stock market.
They saw something happen andeveryone had money at that time
and and they were just trying toput money in.
A lot of people lost money,including myself, just by
holding too long, and then itwent back down.
I did get into a group that wasday trading and it would be
(08:12):
like, you know, sell and I wouldhold and I got screwed in the
end of that.
And then cryptocurrencyobviously that was taken off
around that same time and thenit went dead for a while.
And now here it is again, againcoming back around for another
cycle and everyone's talkingabout crypto now I'm staying
strong.
Speaker 1 (08:30):
I'm staying strong.
Speaker 3 (08:30):
I'm like I'm not doing it again, I'm not getting
sucked in, I'm not dropping timewas before people started
talking about it, before youknow, a month or so ago.
When everyone starts talkingabout it again, bitcoin hit an
all-time high today at 94 000000.
Speaker 2 (08:43):
94.
Speaker 3 (08:44):
Yep.
Speaker 1 (08:45):
Yeah.
So I'm really interested inyour franchising and what you've
done with franchising, becauseit's something that I always.
I have what they call sometimesthe shiny object syndrome and
I've built my companies andwe're making good money and
we're supporting our familiesand stuff.
But I always see these thingsand I'm like, oh, that's
interesting.
(09:06):
I go to this place called theStretch Zone once a week where
it's a franchise.
It actually started in FortLauderdale and you basically go
in there and you get stretchedand the person will strap you
down on a table, essentially,and manipulate your body in ways
you can't do yourself andthey're like a personal stretch
trainer and typically they'retrainers that came from like
(09:29):
sports teams and stuff like thatand you know that's what they
do.
But it's a franchise and youcan buy a franchise and the lady
that owns this has like threeof them, uh, in our area here
and they're all booked and shedidn't come up with like I had
to build our business.
I had to build it from theground.
I didn't have any help orsupport.
(09:49):
What's the benefit to buyinginto a franchise?
Speaker 2 (09:53):
Yeah, that's a great question, right, the million
dollar question.
So I can relate to everythingyou said because I started out
with me.
So the worst advice I've everbeen given, the most suppressing
advice anyone can ever givesomeone.
There are two things that aretold generation after generation
which keep people poor andsuppress people.
Number one is if you wantsomething done, right, do it
(10:13):
yourself.
Total bullshit, guaranteedyou'll be poor, guaranteed.
Second thing is don't countyour chickens before they hatch,
because they don't understandthe law of attraction, right,
thoughts become things and whatyou think about you bring about.
So apps, those two things,right, there are.
Like the beginning of well,maybe I should just start
(10:34):
something on my own and I didthat and I did okay, right, I
didn't kill it.
I'm not talking aboutgenerational wealth, right,
everyone has a different opinionon, or a different feeling on,
money and what they want andwhat they use it for.
Like to me, I wanna be stupidlywealthy, right, like, not just
comfortable, but very wealthy.
(10:55):
It just it means something tome.
It's not just security and it'snot just a scorecard and it's
not just the fruit of my effortsand labors, it's just something
that's important to me and andit equals a lot of freedom and
you're a health guy so you canrelate to it like my doctor is a
thousand an hour.
I don't use modern medicine,modern medicines or shit they
(11:18):
have no credibility anymore.
Speaker 1 (11:19):
I do the same thing.
I we actually had a wholeepisode about this.
Now I go to a.
Now I go to a private doctor.
I have health insurance.
My wife still works, she's ateacher.
Like I have health insuranceand I don't use it.
I go to a private med spa,basically.
Speaker 2 (11:32):
Exactly Right, Not one.
I'm 53 years old.
Not one doctor in my life and Ialready know the answer to this
.
I'll just tell you Not onedoctor in your lives ever told
you to go get your hormonelevels checked, your
testosterone levels checked.
Testosterone is everything.
It makes a man a man who we areLike, so what they'd rather do.
(11:53):
Oh, you don't feel good?
Here's a prescription for anantidepressant.
Meanwhile, you know, your Tlevels down.
We have 30-year-olds in thiscountry, low T, low sperm count,
can't have babies.
For the first time in history,you have two presidential
candidates talking about theeconomy and what else?
Ivf when in the history ofAmerica has a candidate
(12:14):
discussed IVF?
Why?
Because we can't have babies.
What's going on right Now?
This doesn't answer yourquestion.
I'm kind of going on a tangenthere, but it all does matter
because it all brings us back towhen you start out on your own.
You're right, man.
You're doing the heavy lift.
You have to figure everythingout.
You cannot leverage collectiveintelligence.
(12:36):
You can't call anyone in yourbusiness.
It's your business, it's uniqueto you.
I found the fastest way tocreate wealth, the fastest way
to scale, just the fastest wayto what I call collapse time,
Because time is the onlycommodity you can't recycle
right.
Time is not our friend at all,it's our enemy.
So if I could collapse, timeand I can scale wealth.
(12:58):
It has a force multiplyingeffect.
Franchising provides that.
They give you the blueprint,the roadmap, just execute
flawlessly and off you go.
So when you ask me what's thebenefit of it, I have found over
the years I'm able to pick upthe phone and call guys like you
.
Hey, do you have a minute?
(13:19):
Yeah, Well, listen, we sharethe same brand.
It's on the same corner of ourshirt.
Do you have a minute?
I want to ask you you're doing7 million a year.
You're doing 15 million a year.
I just want to ask you a fewquestions about how you
compensate your managers.
Hey, what are you doing toacquire new customers?
What is your cost to acquire acustomer?
Hey, do you mind sharing yourcost of goods with me?
(13:39):
What are you paying in rent?
How many square footages isyour location?
And you start writing this shitdown.
You're like you know what I'mdoing this wrong Overpaying my
manager.
I'm not doing this right.
I'm fishing in the wrong ponds.
Franchising is huge, not justfor the franchisor.
Forget the franchisor.
It's talking to guys like youand doing what we're doing right
(14:00):
now, we're leveragingcollective intelligence.
You doing right now we'releveraging collective
intelligence.
You're sharing things with me,I'm sharing things with you.
We both walk away from thetable.
We start implementing thesechanges in our life.
Some of it has to do withhealth, Some of it has to do
with wealth.
Either way, we win right.
That's what I love aboutfranchising it's just winning,
and it's winning at a higherprobability than being an
(14:22):
independent business owner,which has the highest failure
rate of any business opportunitywould be going independent.
So do not discount leveragingcollective intelligence.
It's huge my ability to reachacross the phone and call a guy
in California, in Maryland,wherever, to say, hey, can you
help me out?
I'm struggling with a businessissue.
(14:42):
Oh, Ben, they're done that.
Love that man.
Speaker 3 (14:45):
Yeah, that's great, I think, like you mentioned, like
having that framework in place.
That franchise has other otherbusinesses, other shops around
the United States, and it's it'svery helpful to be able to
reach out to those people, askquestions and just having that
framework, versus if you're justbuilding a business on your own
, you're just fumbling through,maybe asking you know your
(15:07):
friends around you if they ownbusinesses, but it may not be
very similar if they owndifferent businesses.
So that is great.
Do you also buy, I guess, asidefrom franchises, do you buy,
like you know, mom and popbusinesses that maybe you know
you can tweak, because now it'smore of a.
Maybe they've run theirbusiness how it used to be run
back in the day and now you cancome in there and basically buy
(15:30):
it for a lower number and thetechnology and the technology to
get it to a greater level.
Speaker 2 (15:36):
I've looked into purchasing a mom pa and
converting it so you could groworganically or you could grow
through acquisition, right.
So growing that way.
I've not been successful doingthat what I have been successful
doing.
In the very beginning of mycareer, I used to buy.
As Warren Buffett says, you buywhen there's blood in the
(15:57):
street and you sell with thebugles, right.
So I would look for blood inthe street and my specialty was
buying failure because I viewedmyself as a turnaround
specialist, so I wasn't afraidof buying this beaten up, abused
business.
One of my best deals I've everdone was in your backyard in
Annapolis and Stevensville.
So I actually started with mybusiness partner, justin.
(16:20):
We started by buying failinggyms.
Gyms are a unique business model.
The average customer walks inthe front door and out the back
door in under 10 months.
Right, I was never long and ofcourse, this may age or may not
age.
Well, it doesn't matter.
(16:40):
I tell all my clients I'm notlong gyms and I never have been.
And they're like, why?
Like, didn't you buy gyms?
Yeah, I buy them, I build them,I sell them for a nosebleed
multiple and then I buy themright for 10 cents and a dollar
and I build them, turn themaround and sell them for another
nosebleed multiple.
They're like why don't you justkeep them?
(17:01):
Because I am not long fitnessand I was never long fitness
back a decade ago and I'mdefinitely not long now with the
invention of GLP disruptors,semi-glutides, the Ozempics and
Wagovis Absolutely not.
You're seeing the unintendedconsequences of these weight
loss drugs in the shopping cartat Walmart.
(17:24):
You're literally seeing thebutterfly effect, like what
happens when a girl in Marylandstabs herself in the stomach
with Ozempic once a week.
What happens?
She loses weight.
Keep going.
She has less in her shoppingcart, the grocery store.
Keep going.
She cancels her gym membership.
Keep going, keep going.
Speaker 1 (17:43):
So you wouldn't believe man.
It's interesting.
You say that because I one ofmy actually first that's my
second private investor that Igot when I started buying real
estate.
He, um, I was actually a boatcaptain, so that's how I met a
lot of people.
Uh, I ran boats, private boatsfor people.
Um, yeah, I was a coast guardlicensed master captain and I
(18:03):
went and worked in the summersand traveled around on people's
boats, basically, and drove themaround, drove around rich
people, and I got to be in theirear and hear their stories and
blah, blah, blah.
But he, during COVID, when Iwas kind of doing business with
him, he bought, he sold acybersecurity business,
ironically in Northern Virginia,and bought during during COVID,
(18:26):
like 40 something golds gyms.
And the reason he bought it?
Because he had a lawyer thatwas able to renegotiate all the
commercial leases and change theNOI and then basically packaged
them all up and boom, boom, bam, couple M's in your pocket, you
can resell them.
Bam, a couple M's in yourpocket, you can resell them.
(18:49):
The thing that I feel like thatis changing, though, where I
feel and maybe it's because I'mmore in the space now and Nick
maybe isn't he can maybe weighin this I do feel like people
are more into fitness and health, like I wasn't a big drinker
but I stopped drinking this yearbecause of my Ironman training
and stuff like that.
And I feel like now and maybeit is because I'm just in the
(19:09):
ethos but I feel like a lot ofpeople are getting into their
health now.
I feel like a lot of people arerunning like I do.
I have a run club and peopleare just, I feel, like taking it
more seriously than they werebefore, taking it more seriously
than they were before.
The one problem with those drugs, those GLP-1 drugs that you
were saying, is that people takethem and they don't do the
(19:30):
weight training, so they'relosing a lot of muscle mass and
that's a really dangerous placeto be.
When you lose a lot of weight,your body is naturally gonna eat
that muscle first, so youbecome what they call skinny fat
and it's really, reallyunhealthy.
So I don't know, nick, maybeyou can weigh in Like do you
feel like, now more than ever,people are like getting into
(19:53):
their fitness or no?
Is that just me, because myalgorithm is fucked up, because
I trained for Ironman?
Speaker 3 (19:58):
So I do think it's like what you focus on expands,
because you've been working outa lot in training this year for
Ironman.
It just appears that everyoneelse around you is doing that.
For me, I don't other than youknow seeing you and and you know
other people that work out withyou guys I don't see a huge
change.
I mean, I know health is veryimportant, but I, I think, like,
(20:21):
just like when I got into realestate, that's when, like
everyone, became a real estateinvestor.
But it might have just beenbecause now I know more people
who are in real estate, who arereal estate investors.
Speaker 1 (20:30):
What's that called the red car syndrome?
Do you know what that's called,cliff, you buy a red car Now.
Speaker 3 (20:35):
I just bought a BMW.
Speaker 1 (20:36):
I started seeing all these BMWs.
Now I notice every BMW that'son the road.
I don't know what.
Speaker 2 (20:41):
There's a word it's a it, there's a name and it's
like Hoffmeyer's.
It has a name where, okay, if Isaid something to you like did
you see the new 2024 Corvette,and you're like, no, I haven't,
when we hang up, you'll see likeeight of them yeah yeah, and
it's and it's an actualphenomenon, yeah, where?
(21:03):
and it?
And the question is is it aphenomenon where now the
universe has placed corvettes infront of you?
Or?
Or, as tony robbins would say,like, look around my room for
everything brown, right?
Or?
Or, look, you can see my thing,look around for everything
green.
And then I.
And then you go, okay, I'm goodand okay, tell me what's brown.
(21:26):
And you're like, yeah, I wasn'tlooking for brown, I'm looking
for green.
Exactly, you're not looking forCorvettes.
Now you are like why doessociety behave the way they do?
Why does the herd do what theydo?
(21:46):
It's like a mean hoffer, uh,phenomenon there's a name for it
.
It's like a long term name yeah,it's like my last name, it's a.
It's a name chat.
Speaker 1 (21:53):
Gpt will probably be able to tell you in seconds.
I'll have, uh, I'll have myproducer put it in the youtube
video and we figure it out, sowe can all figure it out
together.
But so, so just to quickly goback to Jim's the one Jim that I
do wanna talk about, and it isa franchise.
So I'm trying to full circlethis here.
The most genius Jim businessmodel planet fitness.
(22:16):
They, they market, they putpizza on their front, fucking
donuts, the donuts pizza.
They get you in there for tendollars a month.
Yeah, because they know thatten dollars a month is not
enough to to cancel.
You always have that thing thatis oh, I, I'm going to go one
(22:39):
day, I'm going to go next week.
It's only $10 a month.
If you belong to an Equinox,that's $300 a month.
You're going to go.
If you don't go, you're goingto cancel.
But Planet Fitness, they go tothese shopping centers that have
a lot of volume, a lot oftraffic.
They put a gym there.
They have 10,000 members and 40people maybe show up a week.
(23:02):
That's right, that's, that's areal franchise.
That's doing it.
And they're doing it rightCause they have they.
You go there, you get tanning.
But one of my employees is afriend of mine first and became
an employee now and he says I'mgoing to the tanning salon but
it's just LA, it's just a PlanetFitness, and he doesn't ever go
(23:24):
to work out, but he goes to gotanning and he uses $10 a month
because they have a fuckingtanning bed there and it's like
that's a good business model.
Like how do you, you know, doyou buy a bunch of Planet
Fitnesses because a bunch of fatpeople are going to say I'm
going to go to the gym one day.
And how did they think of thatFirst of all?
That's like that's a crazything to think about.
(23:46):
I want to create a gym thatnobody comes to.
Speaker 2 (23:49):
No one comes to.
Speaker 1 (23:50):
I was listening to Hormozy talk about that.
It's like I'm going to createsomething that nobody wants to
come to, but they'll pay for itand pay me for it, and never
cancel.
Speaker 2 (23:58):
Yeah, yeah, is that genius?
I guess I'm in my own way,because if I'm in the gym
business, I genuinely want tohelp people and that business is
designed to do the opposite.
It's not meant to help anyone.
Speaker 1 (24:09):
It's meant to enrich themselves.
Speaker 2 (24:11):
Yeah, it's meant to enrich the shareholders and the
franchise my neighbor owns threeof them pays 150,000 a month in
rent between the threelocations.
Covid literally put a nail inhis coffin.
He was selling his mclaren, hewas selling everything and it's
in your backyard he owns thoselocations in maryland, wow, and
virginia.
Yeah, my covid destroyed him.
(24:32):
Destroyed him because he got norent abatement.
It was deferral.
So so, look, I hear you and Iagree with everything you said.
Just me, maybe it's my ethics,maybe it's just I want to be a
responsible provider of mybusiness.
I cannot take that brandseriously, because I know that
they really don't give a shitabout people and that just flies
(24:54):
in my face.
Speaker 1 (24:57):
So all of my businesses have been based
around real estate, right?
I have a construction company,I have a property management
firm and we sell real estate.
We buy, sell, flip, rent,whatever, everything.
And that, to me, is the onlything we know, right?
What businesses are you mostfocused on or think that you are
(25:17):
long on?
So you're not long on fitness.
What things are you long on?
Speaker 2 (25:22):
Yeah, Great question.
So, and I like what you're in,I like, I like your business,
whether it's franchise or not.
I like what you guys arebuilding.
Um, I focus on four categoriesand some of this is
controversial, but just let meexplain that because I themed it
right.
So my first theme is thefeminization of men in America.
Like what does that mean?
I'm long anything regarding thefeminization of men, which
(25:44):
means men's health, becausewe're feminizing them, right.
Women are now being emasculatedand men are the opposite, so
it's like what happened there.
So I'm all in on anything.
Ed.
I'm on low t, so trt therapyfranchises are huge.
Average revenues are almost amillion million plus.
I am long anything involvingthe use of tools this fucking
(26:08):
brand.
Speaker 1 (26:08):
Right here this is.
Let me go on a quick tangentand go ahead.
Maybe they'll sponsor the showor something, because I give
them enough money.
So I was telling you, I go tothis, uh, med spa, life med,
it's called life med institutehere in maryland.
There's a couple locations,three or four locations.
So I was telling you, I go tothe med spa, lifemed, it's
called LifeMed Institute here inMaryland.
There's a couple locations,three or four locations.
You go in there and I went inthere to get my levels checked.
So I wanted to make sure mywife and I are trying to have
(26:30):
kids and I just wanted to getchecked.
I train like a crazy person.
I'm doing 15 plus hours ofcardio a week, weight training
the whole night.
I wanted to be checked out.
You go in there and you spend acouple hundred bucks for a
consultation and they just swagyou out.
They give you shirt, shirts,sweatshirts, these fucking cups
(26:50):
that I'm.
I have four of them now becauseI go every week.
I get b shots and, uh, now Iwear their shirts, like, like.
I wear my own shirt, like Iwear it because it's a nice
shirt and they're taken over.
If you go to any gym aroundhere, how many life ventures do
you see now?
Speaker 3 (27:04):
Yeah, it's.
It's pretty often that you seesomebody wearing one.
And every time you go in thereat the um the airport and we saw
somebody.
Speaker 1 (27:10):
Yeah, girl, a lady had the same exact shirt I had
on.
We were traveling to Cabo andwe were like this place is blown
up and all these people gothere and they have health
insurance, but they're still.
You know, anybody with a littlebit of money can go to this
place and they treat you better.
They take the time, like theconsultation that I had when I
(27:32):
first went to my insurance-baseddoctor when I first started
this like health journey thatI'm on.
He basically was 10 minutes.
I was in and out of that office.
I didn't get anything that Ididn't know already.
I went into this, this med spaplace.
I guess that's a med spa, Idon't know really what to call
it.
It's a concierge doctor and youget your blood work done, you
(27:53):
sit with them for as long asyou're willing to pay them and
you get as much information asyou're willing to pay for.
And unfortunately, that's just.
You know you get what you payfor, but these places are
blowing up and you can't walk inthere without spending a couple
hundred bucks.
And then they give you 10 shirts.
Literally they'll give you five, ten shirts and you and you
(28:16):
wear them and it's, it's genius.
So sorry to interrupt you, butno, not at all.
Speaker 2 (28:20):
I completely agree.
Speaker 1 (28:21):
I've been using like crazy and they do trt, they,
they're doing therapy absolutelytrt anything you want anything
you want, but you go in thereand you get your levels checked,
like they check that and I haddeficiencies in certain things
and that's why every week now Igo get it's called like
Powerhouse Max.
They have, like it looks like acocktail menu or a wine list at
(28:44):
a restaurant and it has all thevitamin shots, iv bags,
whatever.
In that case, if you qualifybased on the provider, you go in
there and I go every week and Iget a shot and it makes me feel
better every week.
Speaker 2 (29:01):
A shot or an IV bag.
Speaker 1 (29:03):
I get the shot because I'm a pansy when it
comes to IV stuff, so I just dothe IM shot of.
It's called the Powerhouse Max.
It's got, like you know, 10different vitamins taurine, b12,
not the B12, all that kind ofstuff.
Speaker 2 (29:17):
I do them all the time.
We have a brand called here intown called Forever Young and,
like you said, whole menu I doit.
I'm a big skier.
I got a place out in Park City.
I go out there all the time.
I love skiing and I love tothat out.
That altitude will get you whenyou live where I live below sea
level Right and I'm hanging outat like 11,000 feet above.
(29:38):
So love to get a bag.
I do feel a difference in myperformance, my ability to
handle the altitude, no altitudesickness and you know some
pretty hardcore skiing all day.
So I I completely agree withyou.
You know, you say this and Iwant to make a comment and go
back.
Number one I and a bizarre,just kind of throwaway line,
would you believe.
I'm a hundred ton captain, notanymore.
(29:59):
I let my life.
I have never met anothercaptain in my career.
Speaker 1 (30:04):
That's funny.
Speaker 2 (30:05):
Yeah, once you leave that world, where are you
meeting?
Speaker 1 (30:07):
captains.
Yeah Right, I keep my licensebecause I work too hard, I know.
Speaker 2 (30:12):
I, I, I, I screwed up .
I let it lapse.
I focus so much on trading andwall street.
I let that thing go and I doregret it.
I'll be honest with you.
So don't let it lapse.
Keep it current.
And you're right, it was a lotto go to maritime school and get
that license.
But yeah, I used to ownparasail boats.
So if you're going to hire, ifyou're going to charge people to
(30:34):
be on your boat, you have to bea captain, that's right when
you said that.
It's like I've never heardanyone say that yeah but I want
to go back to my masters.
Speaker 1 (30:47):
It's funny, good for you.
Speaker 3 (30:48):
Nice, but you made a comment about gyms.
Speaker 2 (30:49):
Yeah, you made a comment about gyms and I just
want to say that and I agreewith what Nick said a little bit
where I think it's the worldyou're living in that it's
appearing that more peoplehere's what I'm seeing and we're
talking about it right now.
I'm seeing more and more peopletalking about Huberman, more
people talking about biohacking,gary Brekka.
(31:10):
I'm hearing more people talkingabout that cup you're holding
in your hand and getting a andmoving money, almost like sector
rotation.
They're moving money from atraditional gym and they're
saying you know what?
That place isn't cheap.
I'd rather get an IV bag thanjoin Lifetime at $210 a month or
Equinox, to your point.
So I'm seeing money moving intosensory deprivation, red light
(31:34):
therapy, trt, peptides, nacs.
I'm seeing money moving intoall these other.
I'll just call them as anumbrella statement biohacking
versus.
Did you do your cardio today?
Did you do your strengthtraining?
People are starting to figureout another part of their health
by listening to the Hubermanpod and really getting in tune
(31:56):
to just your saccania rhythmjust waking up, turn the devices
off, get natural light in youreye, go to bed.
It's like little life hacksinstead of just the gym.
So I am seeing, I agree withyou on.
Don't you see a difference inbehavior?
When?
(32:17):
When did anyone challenge youknow sodium, some sodium borate
or some chemical in Froot Loops?
Now you got RFK on nationaltelevision telling you you're
being poisoned.
Speaker 1 (32:30):
I'm a huge fan of him and what he's doing with that
I'm a huge fan.
I think he was a great part.
I think he's going to be agreat part of this next upcoming
.
I don't like to get political,but I think he is the perfect
example of what we need to showpeople, because the stuff that
we are eating is truly, trulypoisoning us.
(32:51):
And I'll just say it here and Ihaven't shared this with a lot
of people, but when I went tothe first test that I got, they
did say I had low testosteronefor my age.
And if you look at me and yousaw a picture of me, you
wouldn't think I had lowtestosterone.
I mean, I got a six pack.
I'm jacked, but it's a thingthat doesn't show and I hate to
(33:13):
sound like a dick, but it's true.
And I asked the lady.
I said does it look like I havelow?
I don't feel like I have lowtestosterone.
I it's true.
And I asked the lady.
I said does it look like I havelow?
I don't feel like I have lowtestosterone.
I just ran a 10K this morningfor warmups, like she's, like
it's showing in younger andyounger males and she says I
don't want to get.
She literally said like I don'twant to get political,
basically, but we think it's inthe food, that's.
(33:35):
That's what she said.
Speaker 2 (33:36):
Yeah, we, we know it's in the food.
Everyone has autism.
Now Like it's like a thing now.
Speaker 1 (33:42):
Yeah, it was that was another interesting stat.
It was, I think maybe I sharedthis on the podcast before, I
don't know.
We talk so much shit on thepodcast, but the numbers were
like in the early 90s it waslike one in 37 people got
diagnosed with autism.
That's right.
Now it's one or one in 1500.
(34:03):
Yeah Right, one in 1500 peoplewere diagnosed with autism.
Now one in 37 people arediagnosed with autism.
Peanut allergies, lowtestosterone, low sperm count
All of these things spiked inthe nineties.
Interestingly enough, and we'regoing to get like our tinfoil
hats on here but it's when thetobacco companies came in, got
the food business.
Got the food business becausethey couldn't put any money into
(34:25):
marketing when we made.
I guess it somebody's going tofact check me on this, I hope.
But they made it illegal tomarket cigarettes, like they
couldn't put commercials out.
So the tobacco companies hadthis surplus of money.
They bought the food companies.
So the tobacco companies hadthis surplus of money, they
bought the food companies.
Now the tobacco companies ownall the food companies and the
same people that were making thecigarettes addicting are now
(34:47):
making the food addicting.
And then we saw the spike inall of these chronic illnesses
and then basically we becomedependent on only a couple of
distributors that have thatcontrol of all the food.
They have all the foodpesticides, all the stuff.
So now we're full tinfoilhatting.
Speaker 2 (35:08):
But I think it's true .
It needs to be.
That's the problem People starteverything out with.
I want to be sensitive to yourfeelings.
No, fuck your feelings.
They're killing us.
What does this have to do withfeelings in politics?
They are polluting our food.
Our children are chronicallyill.
We're the richest, mostpowerful, sickest, fattest
(35:29):
country in the world.
There's something wrong here.
I don't need RFK to tell me.
I just need someone in a highlevel position to confirm our
suspicions that our food ispolluted.
Well, guess what it's confirmed?
I have an app.
It's called Yuka.
Speaker 3 (35:44):
I don't know if you're into them.
Speaker 2 (35:45):
Yeah, All right man, come on Absolutely Like, please,
you can't buy anything.
Yeah, exactly.
Speaker 1 (35:50):
So we were in.
We were just in Cabo two weeksago.
You get a bag of potato chipsLays same brand, three
ingredients, three ingredients.
It it says papas sal and therewas some like oil.
That's it three ingredients.
You get a lays bag here.
There's 76 ingredients in it.
That's right like not.
I'm not saying exactly.
Speaker 2 (36:10):
No, I get your point, but yeah, there's all these the
, the remember we had the oreosyeah like we all said, that they
taste different.
Speaker 1 (36:18):
something's different .
The chips taste different, andthat's.
I don't want to shit on Mexico,but they're not as rich as us.
They're not, as they're not ashigh in the world economy as we
are, and they have healthierfood than we do.
The fruit is natural, it'sorganic because they have no
choice.
That's what it is, it's, theyjust grow it.
You know that's what it is,they just grow it.
(36:38):
So I do think that it's funny.
You were like short on gyms butlong on health.
That's an interesting dynamicyou have there.
Speaker 2 (36:51):
Yeah, almost like a dichotomy, right, it's like man,
that's like jumbo shrimp, it'slike what did you say?
Yeah, Short on gyms, but you'reright, I am a very long on
health.
I think this administration isgoing to flip the script on
everything that we've been doing.
I think it will be make Americahealthy again and I think a lot
of these companies are in deepshit.
The things that they've beenfeeding us are just absolutely
(37:13):
frightening.
It's criminal and people needto start going to prison.
People need to start being heldaccountable.
I mean, look at fluoride.
I mean, what's fluoride?
You got to go all the way backto Dow Chemical.
It's an industrial byproduct.
Where do you put industrialbyproducts, right?
Ah, we'll put it in thetoothpaste.
You want to talk about twostories?
That can't be true.
Toothpaste do not swallowDrinking water, enjoy it, Wait a
(37:36):
second.
They both have fluoride in it.
Toothpaste is saying don't doit.
Drinking water is like go rightahead.
Ah, you calcify your pinealgland.
No big deal you just be a littledumber next year.
So all this stuff is now comingto the surface.
All these quote conspiracytheories are now being
fact-checked and now we haveleading scientists that are no
longer being censored, that areable to now speak freely about
(38:00):
what's going on, and I thinkit's great.
I think it's long overdue.
I'm excited.
You're young guys.
You'll have a longer life.
Can you imagine looking at youtwo Like your generation will
not outlive the prior generation.
That's the first time.
Speaker 3 (38:15):
That's ever happened in history.
That's right.
Speaker 2 (38:17):
That's right.
Your longevity is not longerthan your grandparents or your
parents.
That should really piss you off.
Speaker 1 (38:25):
Yeah, that's why I finally um, I had to make a huge
change in my life.
Luckily, I'm blessed enoughwhere I had the time and the
finances to do so, but peopleneed to open their eyes and
actually make a change, becauseonce this stuff gets hopefully
blown up, when this newadministration comes in and RFK
(38:45):
actually takes that role andruns with it, I think there's
going to be a lot of change.
I hope, I hope, I don't think.
I hope there's a lot of change,so, yeah, so, so what?
So what kind of businesses?
So, besides these like med,spas and stuff, what other kinds
of businesses are we looking at?
Speaker 2 (39:03):
You, you mentioned it and then you and I have been
doing a great job going downlike bunny trails, right, so
I'll?
I'll bring us back, because I'dnever even finished your first
question.
There are four things that Ifocus on.
One is the feminization of men.
Men can't use tools.
Men have poor health.
I am long on any businessrequiring the use of a tool
(39:24):
roofing, siding, HVAC, flooring,drywall, window replacement,
garage door repair If itrequires a tool to perform the
service with feet on the street.
I'm long and I truly believe inan era of AI.
Your local plumber.
These guys are going to own theworld going forward, Because I
think AI is going to annihilatewhite collar jobs, and I mean
(39:48):
annihilate, and I'm not alone onthat statement.
Even Goldman thinks 300 plusmillion jobs could be eliminated
globally just from AI.
Next category we humanize petsand animals, so I'm long
anything involving pets andanimals.
We're not repopulating.
I'm happy to hear that you andyour wife want to start having a
family.
(40:09):
That's great, because that'snot a common conversation with
our youth today.
They're not repopulating.
They're buying pets and nowthey have acronyms for them,
right, like people who have dog,moms yeah right, yeah, right.
Everyone has these furry babies,and so we literally humanize
them, where people almost caremore about animals today than
they do, maybe even theirneighbor.
Speaker 1 (40:30):
My in-laws own a big veterinarian practice.
They're all vets, and mybrother's a vet.
Everybody's a vet, and sinceCOVID it's exploded too.
That's right, that is a good.
So we're two for two here.
Okay, what's next?
Speaker 2 (40:44):
I don't care if you're grooming, I don't care if
you're boarding, I don't careif you're training.
I'm not long on retail becauseI think retail belongs on the
web.
I just don't think anyoneshould be brick and mortar
retail.
I think those days are over andyou're at the top of your bell
curve and if you buy thosethings like, lower your
expectations.
Category number three thiscountry is aging.
(41:07):
In the next decade there willbe more adult diapers sold in
America than baby diapers.
That is frightening.
So the aging, great great.
We're going the same way.
Japan went during ancientcivilization.
Look at the Japanese if youwant to know what's about to
happen to America, if it wasn'tfor illegal immigration and
people just walking in here.
We're not repopulating.
(41:28):
We don't have a future of youthto care for our elderly.
So I'm long anything assistedliving, anything non-emergency
medical transportation.
I'm all about home care.
I'm all about mobility.
I've got guys that own mobilitybrands doing millions just
renting, repairing and sellingscooters and wheelchairs and
(41:49):
assisted chairlifts and strikerbeds.
My next category has a lot to dowith what we discussed at the
top of this call, which isanything involving beauty,
vanity, biohacking, the desireto look youthful.
You're seeing a trend.
We're not repopulating, we'rean aging grain of America.
And now I'm talking aboutanything involving beauty and
(42:11):
vanity, whether it's Botox,whether it's just like we talked
about sensory deprivation tanksor red light therapy or any
type of biohacking, whether itbe IV drip therapy.
I think all that, or nailsalons.
Show me a nail salon thatfailed during the housing crisis
.
You won't be able to find onelike those.
Things are tried and true.
(42:31):
Anything involving my favoriteline with spending with women is
never bet against the spendinghabits of a female, especially
when it comes to wanting to lookyouthful and beautiful and feel
confident and sexy and all thatstuff.
I would never bet against thespending habits.
So those four categories, bythe way, are AI proof and
(42:53):
they're Amazon proof all of them, and that's what I'm all about.
I'm all about try true local.
If you need a service, if youneed a product, you can only get
it here.
I don't want to hear I couldget it on Amazon.
I don't want.
Now I'm here in Teemu.
I don't want to hear I couldget it on Teemu.
I see these people open up CBDoil businesses.
It's like you're out ofbusiness and you just don't know
(43:14):
it.
Yet no one needs a CBD oilbrick and mortar brand in their
town.
That's just crazy to me.
Speaker 1 (43:21):
It's funny.
That's the whole line.
Both Nick and I have homeservices companies.
He started as a landscaper,still owns the landscaping
company.
The grass is going to grow, nomatter what.
My home remodeling, my homeremodeling company I'm doing a
lot of flips for myself and alot of construction for
investors.
But I'm also building kitchens,I'm building bathrooms, I'm
building additions, I'm doingroofs.
(43:43):
I'm doing all that.
That stuff and AI, if you useit.
That's the other thing that I'msuper long on taking.
And we were talking aboutbuying mom and pop businesses.
My project manager a couple ofmonths ago maybe a month or so
ago came to me and he said didyou know that you can upload?
So first you can take yourphone, polycam.
I'm going to give everybody ahack here.
(44:03):
Take your phone, downloadPolycam, pay a hundred bucks a
year, scan the room.
It tells you how big the roomis.
It gives you a picture.
You upload it into chat, gptand say how much drywall do I
need, how much trim do I need,how much flooring do I need, and
it'll spit you out in fiveminutes a spit you out a
material list and exactly howmuch it's going to cost you.
(44:25):
Wow, I've completely cut outbasically 90% of my estimating
time by using two apps, both AIbased, and Nick's doing a demo
job for me right now One of myflips.
Another app is called CompanyCam that uses AI to I walk
through the house with itrecording and I'm just snapping
(44:46):
little pictures talking to thephone, just as if it's a person.
I'm saying just remove thatpiece of furniture, throw this
away, demo this and that's allthose notes.
That's all AI.
It's all AI.
That's writing the notes,taking the pictures, and then I
send a link and it goes to Nickand he can forward it on to his
guys on site and it's a fullscope of work and I didn't do a
(45:11):
thing.
All I did was talk to my phoneand the AI did the rest.
Where before I was sitting theretaking a picture, writing down
on a computer or typing in, aihas completely taken over.
There are people in my industryI know I go to the gym with a
couple of guys, one guy thatused to be competing I would say
(45:32):
competing with me but we do thesame, we're in the same
industry, right?
And there's no way he can keepup with me because I am on
technology, I am doingeverything on the cutting edge
of AI technology in putting itinto the business that the older
(45:53):
generation is not eitherwilling to learn or willing to
implement because it's scary orit's new, it's clunky sometimes,
but when you are willing to putthat time in and learn the
system, I can put so many people.
If I really wanted to take thetime and give up on my health
again, I can put so many peopleout of business right now by
just implementing a couplepieces of technology and just
(46:15):
taking over and that that I'm.
I'm long on that AI stuff.
Speaker 2 (46:18):
Completely agree with you.
Yeah, I, I a hundred percentagree with everything you're
saying and I agree with thoselike what, like, what is your
advantage?
Right, it's not always justbeing smarter.
Smarter is just irrelevant,right.
Speaker 1 (46:32):
I was a gym teacher.
You're leveraging everything PEproperty management.
I was a gym teacher, that'swhat that means oh, is that what
that means?
Yeah, we do $10 million a year.
Speaker 2 (46:41):
That's great Good for you guys, great.
Speaker 1 (46:44):
So yeah.
Speaker 2 (46:45):
I love residential or commercial.
Speaker 1 (46:47):
All residential.
I don't touch.
I do very little commercial.
I know the residential game.
I like 30-year mortgages.
Nick and I are in the same game.
He has 100 houses 100 more.
Speaker 3 (46:57):
How many do you have?
Speaker 1 (46:58):
93.
93 houses.
So we're all long game.
30-year mortgages I don'treally like the commercial space
as much.
Actually, we were just gettingready to buy a commercial
building from Nick recently andwe pulled out of the deal
because of a couple of reasons.
But the commercial game to meis something that can come and
go really quickly.
With the cycle of rates and theresidential stuff it can only
(47:22):
get better.
You can only refinance.
I'm only going to refinance ifit's better.
I have 30 years to pay thisthing down.
I know I'm cash flowing now.
I know the rents are probablynot going to go down Not
definitely, but probably notgoing to go down not definitely,
but probably not going to godown over the next 30 years and
my mortgages will be paid andthere'll be tens of millions of
dollars for me at the end of therainbow.
(47:42):
That, to me, is the game that Iknow.
So I stay away from commercial.
All the people that refinancedfive years ago, four years ago,
and they're eating there.
There's a lot of capital callsgoing on right now in those
commercial syndicates.
Speaker 2 (47:57):
I'll tell you that right now, billions Yep, yep.
Absolutely, there's hell to payin the commercial space,
totally.
Speaker 1 (48:05):
What do you think, Nick?
You're quiet over there.
Speaker 3 (48:08):
No, I mean I agree, going back to that, that the cam
company, that was pretty cool.
I didn't know anything aboutthat, as I mentioned when I
talked to that.
The cam company, that waspretty cool.
I didn't know anything aboutthat, as I mentioned when I
talked to you the other day, andwhen you sent me this link, I
opened it up.
This is really cool.
Next thing I know I pop onsocial media and it's everywhere
just because I clicked the linkto open it up.
But it is very useful toolbecause I would take pictures
(48:29):
and I would edit it right there,type in what needs to be done,
and it'd be annoying because I'dhave to save it and then I want
an original picture, so I'dhave to take a screenshot of it
so I can edit that pictureinstead of the original one.
And when you sent me that andyou were telling me how it works
, I'm like that's incredible.
Speaker 1 (48:46):
Yeah, a lot of technology If you use it, I
think.
Speaker 3 (48:51):
Saves a lot of time.
Speaker 1 (48:55):
Yeah, use it, I think saves a lot of time.
Yeah, and if you're not willingto use it, like a lot of these
older companies, you're they'regoing to die.
Those companies are going to dieand I'm I'm trying to
eventually once I once I reallyfully Dave Shannon this this
weekend said seventh leveling mycompany, when I can really take
away myself from the companyand it's still grow.
I would love to buy an HVACcompany, a plumbing company, an
(49:18):
electric company, because I'mspending millions of dollars a
year on those three things.
And those people some of themare old and they are not going
to want to run their companiesfor forever and there's nobody
to take them over.
The problem is there's nobodyto work for them either, because
the younger generation isincentivized to go to college to
(49:42):
take on all this debt, to dosomething that isn't going to
pay it back, when they could goto trade school for free, like
my old HVAC guy is like I'mtrying to go to trade schools
telling them I'm going to payfor your school if you just work
for me for four years and hecan't find he can't fill the
positions.
Speaker 3 (49:58):
And the problem, and I think that a lot of those
companies who don't have anyoneand they're getting older, they
want to get out of business.
Instead of them selling theircompany, a lot of them will just
go out of business.
They might not even view thatas an option to sell because of
where they think that theirbusiness is mentally in their
head, but in reality somebodycan come and scoop it up if they
(50:19):
happen to establish clienteleand they can lift it up off the
ground and move it forward.
Speaker 2 (50:23):
Yeah, 100%.
Hvac is one of those industriesthat is literally aging out and
no one is backfilling thattalent and no one is backfilling
that talent.
We had a guy on our show thatbought a.
He acquired multiple fourstates Total acquisition was
about 4 million and he wanted toscale HVAC and everyone said
(50:44):
what we're talking about rightnow.
So he ended up going to highschools and vocational schools
and he started recruiting.
This guy built a $350 millionHVAC company, sold it to a
private equity firm.
Today they're doing over 800million a year in HVAC in five
states.
So you're right, we have anissue with the trades.
(51:07):
We have shit all over thetrades.
For years, mike Rowe did allthese shows dirty jobs.
Everyone's like I want to go tocollege.
They come out of college.
They're not ready.
I don't know what they're doingin college, but they're clearly
not learning what you'resupposed to be learning to be a
productive human being.
And now I think you're going tosee a change.
(51:28):
After all those presidents ofIvy League schools testified in
Congress, I do believe nowyou're going to start to see a
lot of people embracing thetrades and saying you know what
the plumber's making?
350 a year.
That's more than some of theseguys at Goldman are making, and
I have no student loans.
Speaker 1 (51:46):
The blue collars are turning white.
Speaker 2 (51:48):
I listen.
I really do believe that maybeI'm in my own way with it, but I
do believe I feel there's atone change.
I also felt like when Obama wasrunning.
Remember Joe the plumber?
the guy's like that I go tocollege, I'm a plumber, I'm
making a couple hundred grand ayear.
Why would I?
Why would I go to college?
You get one hundred fiftythousand dollar student loan,
yeah.
And now, now they're forgivingthe loan, what does that tell
(52:10):
you?
It's like listen, listen, weknow the degree has no value.
Now, I'm not talking about whenyou went to school, I'm talking
about now.
Yeah, yeah, right now.
If you said harvard to me andyou graduate in the last few
years, like that meansabsolutely nothing to me, other
than I feel bad for you and I'mnot, and I'm sure, hopefully,
parents?
Speaker 1 (52:26):
yeah, hopefully.
Yeah, you know rich parentsthey.
Speaker 2 (52:29):
I hate this I hate to say it, but I do do believe
that.
So the trades are back.
It's amazing Like there was nopre-interview for this call.
There's quite a bit ofalignment, which is interesting.
Speaker 1 (52:42):
Yeah.
Yeah, we do have another showto get on, but I feel like we
could sit here and rap for awhile, but we got to get on
another episode, or if you havea show we'll have to pop on,
because I do feel like we wehave a lot, uh, a lot in common,
a lot, a lot to talk about.
Speaker 2 (53:01):
I'll come back one day.
Yeah, I can always come back.
Speaker 1 (53:02):
I enjoyed uh meeting you guys and thank you so much
for your time.
Yeah, absolutely for having meon cliff.
Uh, we'll definitely be intouch and we'll send you all the
links and stuff.
How can people, uh, get a holdof you and you know that kind of
thing.
Speaker 2 (53:12):
Yeah.
If anyone listening has aninterest in exploring
franchising as an investmentvehicle, give me a call.
You can reach me at561-277-3710.
You can visit my websitefranocitycom.
F-r-a-n-o-c-i-t-ycom.
Speaker 1 (53:30):
I'm glad you spelled that.
I'm not a good speller, so I'mglad you spelled that.
Speaker 2 (53:33):
You guys are great, great show man, absolutely.
Speaker 1 (53:35):
Thanks, cliff, we'll see you next time.
Speaker 2 (53:37):
You got it guys.
Bye now.
Welcome to the Everyday Millionaire Show with
Ryan Greenberg and Nick Kalkis.
Alright, guys, welcome back toanother episode of the Everyday
Millionaire Show.
We're here with CliffNonnemacher.
Did I get that good?
You nailed it Alright.
Sometimes we got people witheasy names, sometimes we got
people with hard names.
(00:20):
That one's not that bad, though.
Cliff.
Where are you coming from today?
Speaker 2 (00:24):
I live in southeast florida, so I'm a boca del rey
area of florida.
I'm a new york, new yorktransplant, but I live down here
now.
Speaker 1 (00:32):
Just like many, I am also a new york transplant, but
I didn't make it that far south.
I uh yet.
Well, kind of, I have a housein tampa, uh, but I we live in
Maryland, but my race thisweekend was just in Miami, so I
wasn't too far from you.
Speaker 2 (00:48):
Nice.
Yeah, it's a great area.
Speaker 3 (00:50):
How long have you been down?
Speaker 2 (00:51):
there I lived in New York.
I moved to Marco Island, goingto the Gulf Coast in 1988.
And I became an investmentbanker in that area.
I was with Solomon SolomonSmith Barney at the time, which
is now Morgan Stanley, and thenI had an opportunity to purchase
(01:12):
my first franchise and I boughtthe master franchise rights for
the entire state of New Yorkand Connecticut, moved back to
New York, sold it, built it,sold it and then moved back to
Florida in 2011.
So, back and forth, more thanhalf my life, uh, has now been
in in florida yeah, that's newyork's a tough place to to stay.
Speaker 1 (01:35):
Just the people, the weather it's it makes it.
It's a great, it's aninfectious place, but it's tough
to stay there for a life fulllife.
Speaker 2 (01:45):
Listen, I have a rule .
Look, this is a wealth show,right.
I have a rule and the rule is Iwill never reside in a state
with a state income tax.
It's like never going to happen.
So, I don't care how beautifulthe state is.
Ie California.
I will never reside there.
I will never invest in thatstate.
I won't put a dime into it inany capacity.
Speaker 1 (02:07):
Luckily, nick and I don't make any money because
we're real estate investors, sothat's how we do it.
But yeah, maryland's notexactly the most tax friendly,
but there is opportunity here,so that's why we stay, listen
exactly Once you figure out.
Speaker 2 (02:23):
okay, this is the hand I've been dealt.
I like it here.
Raising a family here.
How do I navigate around thetax inefficiencies of the state?
You guys nailed it right 1031,all your tax exchanges and all
your creative ways of not makingor not paying taxes.
Speaker 1 (02:39):
Yeah, yeah, exactly Good for you guys.
That's it, man.
So, starting on Wall Street,that's like, that's like a grind
right.
We've we've done a couple ofinterviews with some wall street
guys and they all, they allkind of have the similar story
what, what's kind of your?
How did you get up into finance?
Did you go to finance schooland that was always your track,
or did you kind of fall into it?
(03:01):
Yeah, great question, right now.
Speaker 2 (03:03):
So I've been an entrepreneur my whole life.
I've been an entrepreneur sinceI was a kid.
I used to rake golf balls ateight years old out of country
club you know ponds and lakes inthe woods and sell them, and
I've always been entrepreneurial.
I've owned 12 companies.
I'm now I'm going to be 53 soon, so I'm dating myself.
But now I'm going to be 53 soon, so I'm dating myself.
(03:24):
But no, I was not a goodstudent.
I did not like school.
I hated the idea of college.
I skipped it, made aninvestment, started buying some
water sport concessions I'veowned, you know, like parasol
boats and jet ski rentals andall catamaran tours, and I was
very heavy into the water sportbusiness.
I started what.
I wasn't smart enough, but Istarted what is now an Uber Eats
(03:47):
in Marco Island.
I used to deliver food for 16restaurants, pharmacy on Marco
Island, which led me to thewater sport business.
That's how I actually got inthat business and then continued
to scale.
I was a national distributorthe Fun Noodle, that little
polyneoprene tube you float onback in the 90s.
So like different things overtime.
(04:11):
But I was making money at ayoung age and I invested in a
satellite.
It was a DTN network this isbefore satellites were even a
thing and attach it to the sideof my house and it gave me level
one, level two, level threeinsight into buy sell side on a
stock.
So I started day trading.
I was so early in day tradingmy handle was blue chip, not
(04:33):
blue chip 157.
My handle was blue chip, whichis just crazy.
That's how early I was intrading.
I was probably 1920.
And I loved it.
Started trading stocks, startedmaking money, took my portfolio
to Wall Street.
I got offered jobs by everymember firm, from Raymond James
to Merrill Lynch to Smith Barney, and I accepted a position with
(04:55):
Smith Barney.
So I got involved in it bybecoming a day trader, which, of
course, they shit all over whatI was doing.
They hated it, right yeah,because they're all by hold.
They don't believe in timing.
They don't believe in any ofthat.
Meanwhile, fast forward,everything's algorithm,
everything is right.
Everything now is all abouttiming, trading, millisecond
(05:18):
trades.
So this is what they say.
They say one thing and they doanother on wall street, as you
know.
But that's how I got involvedin it.
I actually was with a team.
We managed around $250 million,which in today's dollars would
probably be close to $400million in assets, mainly some
institutional money likeretirement money, but mainly
(05:39):
high net worth individuals inNaples.
Florida is a very wealthy area.
Speaker 1 (05:44):
So do you think nowadays somebody could go to
Wall Street and get a jobwithout a finance degree like
you did?
Probably not yeah, I was goingto say that because that's an
interesting like you knowanybody that you hear now I feel
like that we talked to havebeen to like the Wharton School
of Business or you know whereverthey had to get their degree.
And then they go.
(06:05):
And I'll tell you what.
I went to college to be ateacher.
That lasted for a couple ofyears.
I was a teacher and I don't useany of those skills that I
learned in college now.
Nick, you went to college to dowhat?
Right?
Speaker 3 (06:20):
Yeah, I went to college, I got my bachelor's in
criminal justice and thenmaster's in forensic science,
high technology, crime to dealwith cybercrime, and didn't do
anything with it.
Speaker 2 (06:33):
But at least your degree applies to our current
situation, right, I mean thatdegree could be implemented like
right now.
I mean, who knew, who knew backthen that cybersecurity would,
that cybersecurity would be whatit is today?
Speaker 3 (06:45):
It's yeah, and it was , it was that degree, they do
nothing with it.
Yeah, and it was a brand newprogram at our school so, like
even the professors at that timewere just trying to like, get
through it and and try to teachus, at the same time, they were
learning what was going on withit.
It would have been a greatcareer to get into it.
To be honest, with all of thecyber stuff that goes on
nowadays and everything isonline, but I saw real estate as
(07:06):
something, you know, muchbigger than than that for me at
the time.
Speaker 2 (07:11):
I love real estate.
Speaker 1 (07:12):
It's funny because my actually now an equity partner
in our brokerage is um, and anda part of my business.
He was in the air force chase.
He's usually here with us onthe on our pods.
He does like a lot of stuffwith us and, uh, he went to the
nsa for cyber security and thenlasted a couple years and now
(07:34):
he's full-time real estate.
So it's uh, yeah, real estate's, real estate's our game.
So that's what we like talkingto people like you in stock game
, because I have my stocks andstuff, but I don't know much.
I don't do trading and I don'tthink Nick does either.
We kind of buy stuff.
Speaker 3 (07:50):
And yeah, besides that, you know, 2020, 2021 boom,
where everybody, everybody wasjust trying to get into the
stock market.
They saw something happen andeveryone had money at that time
and and they were just trying toput money in.
A lot of people lost money,including myself, just by
holding too long, and then itwent back down.
I did get into a group that wasday trading and it would be
(08:12):
like, you know, sell and I wouldhold and I got screwed in the
end of that.
And then cryptocurrencyobviously that was taken off
around that same time and thenit went dead for a while.
And now here it is again, againcoming back around for another
cycle and everyone's talkingabout crypto now I'm staying
strong.
Speaker 1 (08:30):
I'm staying strong.
Speaker 3 (08:30):
I'm like I'm not doing it again, I'm not getting
sucked in, I'm not dropping timewas before people started
talking about it, before youknow, a month or so ago.
When everyone starts talkingabout it again, bitcoin hit an
all-time high today at 94 000000.
Speaker 2 (08:43):
94.
Speaker 3 (08:44):
Yep.
Speaker 1 (08:45):
Yeah.
So I'm really interested inyour franchising and what you've
done with franchising, becauseit's something that I always.
I have what they call sometimesthe shiny object syndrome and
I've built my companies andwe're making good money and
we're supporting our familiesand stuff.
But I always see these thingsand I'm like, oh, that's
interesting.
(09:06):
I go to this place called theStretch Zone once a week where
it's a franchise.
It actually started in FortLauderdale and you basically go
in there and you get stretchedand the person will strap you
down on a table, essentially,and manipulate your body in ways
you can't do yourself andthey're like a personal stretch
trainer and typically they'retrainers that came from like
(09:29):
sports teams and stuff like thatand you know that's what they
do.
But it's a franchise and youcan buy a franchise and the lady
that owns this has like threeof them, uh, in our area here
and they're all booked and shedidn't come up with like I had
to build our business.
I had to build it from theground.
I didn't have any help orsupport.
(09:49):
What's the benefit to buyinginto a franchise?
Speaker 2 (09:53):
Yeah, that's a great question, right, the million
dollar question.
So I can relate to everythingyou said because I started out
with me.
So the worst advice I've everbeen given, the most suppressing
advice anyone can ever givesomeone.
There are two things that aretold generation after generation
which keep people poor andsuppress people.
Number one is if you wantsomething done, right, do it
(10:13):
yourself.
Total bullshit, guaranteedyou'll be poor, guaranteed.
Second thing is don't countyour chickens before they hatch,
because they don't understandthe law of attraction, right,
thoughts become things and whatyou think about you bring about.
So apps, those two things,right, there are.
Like the beginning of well,maybe I should just start
(10:34):
something on my own and I didthat and I did okay, right, I
didn't kill it.
I'm not talking aboutgenerational wealth, right,
everyone has a different opinionon, or a different feeling on,
money and what they want andwhat they use it for.
Like to me, I wanna be stupidlywealthy, right, like, not just
comfortable, but very wealthy.
(10:55):
It just it means something tome.
It's not just security and it'snot just a scorecard and it's
not just the fruit of my effortsand labors, it's just something
that's important to me and andit equals a lot of freedom and
you're a health guy so you canrelate to it like my doctor is a
thousand an hour.
I don't use modern medicine,modern medicines or shit they
(11:18):
have no credibility anymore.
Speaker 1 (11:19):
I do the same thing.
I we actually had a wholeepisode about this.
Now I go to a.
Now I go to a private doctor.
I have health insurance.
My wife still works, she's ateacher.
Like I have health insuranceand I don't use it.
I go to a private med spa,basically.
Speaker 2 (11:32):
Exactly Right, Not one.
I'm 53 years old.
Not one doctor in my life and Ialready know the answer to this
.
I'll just tell you Not onedoctor in your lives ever told
you to go get your hormonelevels checked, your
testosterone levels checked.
Testosterone is everything.
It makes a man a man who we areLike, so what they'd rather do.
(11:53):
Oh, you don't feel good?
Here's a prescription for anantidepressant.
Meanwhile, you know, your Tlevels down.
We have 30-year-olds in thiscountry, low T, low sperm count,
can't have babies.
For the first time in history,you have two presidential
candidates talking about theeconomy and what else?
Ivf when in the history ofAmerica has a candidate
(12:14):
discussed IVF?
Why?
Because we can't have babies.
What's going on right Now?
This doesn't answer yourquestion.
I'm kind of going on a tangenthere, but it all does matter
because it all brings us back towhen you start out on your own.
You're right, man.
You're doing the heavy lift.
You have to figure everythingout.
You cannot leverage collectiveintelligence.
(12:36):
You can't call anyone in yourbusiness.
It's your business, it's uniqueto you.
I found the fastest way tocreate wealth, the fastest way
to scale, just the fastest wayto what I call collapse time,
Because time is the onlycommodity you can't recycle
right.
Time is not our friend at all,it's our enemy.
So if I could collapse, timeand I can scale wealth.
(12:58):
It has a force multiplyingeffect.
Franchising provides that.
They give you the blueprint,the roadmap, just execute
flawlessly and off you go.
So when you ask me what's thebenefit of it, I have found over
the years I'm able to pick upthe phone and call guys like you
.
Hey, do you have a minute?
(13:19):
Yeah, Well, listen, we sharethe same brand.
It's on the same corner of ourshirt.
Do you have a minute?
I want to ask you you're doing7 million a year.
You're doing 15 million a year.
I just want to ask you a fewquestions about how you
compensate your managers.
Hey, what are you doing toacquire new customers?
What is your cost to acquire acustomer?
Hey, do you mind sharing yourcost of goods with me?
(13:39):
What are you paying in rent?
How many square footages isyour location?
And you start writing this shitdown.
You're like you know what I'mdoing this wrong Overpaying my
manager.
I'm not doing this right.
I'm fishing in the wrong ponds.
Franchising is huge, not justfor the franchisor.
Forget the franchisor.
It's talking to guys like youand doing what we're doing right
(14:00):
now, we're leveragingcollective intelligence.
You doing right now we'releveraging collective
intelligence.
You're sharing things with me,I'm sharing things with you.
We both walk away from thetable.
We start implementing thesechanges in our life.
Some of it has to do withhealth, Some of it has to do
with wealth.
Either way, we win right.
That's what I love aboutfranchising it's just winning,
and it's winning at a higherprobability than being an
(14:22):
independent business owner,which has the highest failure
rate of any business opportunitywould be going independent.
So do not discount leveragingcollective intelligence.
It's huge my ability to reachacross the phone and call a guy
in California, in Maryland,wherever, to say, hey, can you
help me out?
I'm struggling with a businessissue.
(14:42):
Oh, Ben, they're done that.
Love that man.
Speaker 3 (14:45):
Yeah, that's great, I think, like you mentioned, like
having that framework in place.
That franchise has other otherbusinesses, other shops around
the United States, and it's it'svery helpful to be able to
reach out to those people, askquestions and just having that
framework, versus if you're justbuilding a business on your own
, you're just fumbling through,maybe asking you know your
(15:07):
friends around you if they ownbusinesses, but it may not be
very similar if they owndifferent businesses.
So that is great.
Do you also buy, I guess, asidefrom franchises, do you buy,
like you know, mom and popbusinesses that maybe you know
you can tweak, because now it'smore of a.
Maybe they've run theirbusiness how it used to be run
back in the day and now you cancome in there and basically buy
(15:30):
it for a lower number and thetechnology and the technology to
get it to a greater level.
Speaker 2 (15:36):
I've looked into purchasing a mom pa and
converting it so you could groworganically or you could grow
through acquisition, right.
So growing that way.
I've not been successful doingthat what I have been successful
doing.
In the very beginning of mycareer, I used to buy.
As Warren Buffett says, you buywhen there's blood in the
(15:57):
street and you sell with thebugles, right.
So I would look for blood inthe street and my specialty was
buying failure because I viewedmyself as a turnaround
specialist, so I wasn't afraidof buying this beaten up, abused
business.
One of my best deals I've everdone was in your backyard in
Annapolis and Stevensville.
So I actually started with mybusiness partner, justin.
(16:20):
We started by buying failinggyms.
Gyms are a unique business model.
The average customer walks inthe front door and out the back
door in under 10 months.
Right, I was never long and ofcourse, this may age or may not
age.
Well, it doesn't matter.
(16:40):
I tell all my clients I'm notlong gyms and I never have been.
And they're like, why?
Like, didn't you buy gyms?
Yeah, I buy them, I build them,I sell them for a nosebleed
multiple and then I buy themright for 10 cents and a dollar
and I build them, turn themaround and sell them for another
nosebleed multiple.
They're like why don't you justkeep them?
(17:01):
Because I am not long fitnessand I was never long fitness
back a decade ago and I'mdefinitely not long now with the
invention of GLP disruptors,semi-glutides, the Ozempics and
Wagovis Absolutely not.
You're seeing the unintendedconsequences of these weight
loss drugs in the shopping cartat Walmart.
(17:24):
You're literally seeing thebutterfly effect, like what
happens when a girl in Marylandstabs herself in the stomach
with Ozempic once a week.
What happens?
She loses weight.
Keep going.
She has less in her shoppingcart, the grocery store.
Keep going.
She cancels her gym membership.
Keep going, keep going.
Speaker 1 (17:43):
So you wouldn't believe man.
It's interesting.
You say that because I one ofmy actually first that's my
second private investor that Igot when I started buying real
estate.
He, um, I was actually a boatcaptain, so that's how I met a
lot of people.
Uh, I ran boats, private boatsfor people.
Um, yeah, I was a coast guardlicensed master captain and I
(18:03):
went and worked in the summersand traveled around on people's
boats, basically, and drove themaround, drove around rich
people, and I got to be in theirear and hear their stories and
blah, blah, blah.
But he, during COVID, when Iwas kind of doing business with
him, he bought, he sold acybersecurity business,
ironically in Northern Virginia,and bought during during COVID,
(18:26):
like 40 something golds gyms.
And the reason he bought it?
Because he had a lawyer thatwas able to renegotiate all the
commercial leases and change theNOI and then basically packaged
them all up and boom, boom, bam, couple M's in your pocket, you
can resell them.
Bam, a couple M's in yourpocket, you can resell them.
(18:49):
The thing that I feel like thatis changing, though, where I
feel and maybe it's because I'mmore in the space now and Nick
maybe isn't he can maybe weighin this I do feel like people
are more into fitness and health, like I wasn't a big drinker
but I stopped drinking this yearbecause of my Ironman training
and stuff like that.
And I feel like now and maybeit is because I'm just in the
(19:09):
ethos but I feel like a lot ofpeople are getting into their
health now.
I feel like a lot of people arerunning like I do.
I have a run club and peopleare just, I feel, like taking it
more seriously than they werebefore, taking it more seriously
than they were before.
The one problem with those drugs, those GLP-1 drugs that you
were saying, is that people takethem and they don't do the
(19:30):
weight training, so they'relosing a lot of muscle mass and
that's a really dangerous placeto be.
When you lose a lot of weight,your body is naturally gonna eat
that muscle first, so youbecome what they call skinny fat
and it's really, reallyunhealthy.
So I don't know, nick, maybeyou can weigh in Like do you
feel like, now more than ever,people are like getting into
(19:53):
their fitness or no?
Is that just me, because myalgorithm is fucked up, because
I trained for Ironman?
Speaker 3 (19:58):
So I do think it's like what you focus on expands,
because you've been working outa lot in training this year for
Ironman.
It just appears that everyoneelse around you is doing that.
For me, I don't other than youknow seeing you and and you know
other people that work out withyou guys I don't see a huge
change.
I mean, I know health is veryimportant, but I, I think, like,
(20:21):
just like when I got into realestate, that's when, like
everyone, became a real estateinvestor.
But it might have just beenbecause now I know more people
who are in real estate, who arereal estate investors.
Speaker 1 (20:30):
What's that called the red car syndrome?
Do you know what that's called,cliff, you buy a red car Now.
Speaker 3 (20:35):
I just bought a BMW.
Speaker 1 (20:36):
I started seeing all these BMWs.
Now I notice every BMW that'son the road.
I don't know what.
Speaker 2 (20:41):
There's a word it's a it, there's a name and it's
like Hoffmeyer's.
It has a name where, okay, if Isaid something to you like did
you see the new 2024 Corvette,and you're like, no, I haven't,
when we hang up, you'll see likeeight of them yeah yeah, and
it's and it's an actualphenomenon, yeah, where?
(21:03):
and it?
And the question is is it aphenomenon where now the
universe has placed corvettes infront of you?
Or?
Or, as tony robbins would say,like, look around my room for
everything brown, right?
Or?
Or, look, you can see my thing,look around for everything
green.
And then I.
And then you go, okay, I'm goodand okay, tell me what's brown.
(21:26):
And you're like, yeah, I wasn'tlooking for brown, I'm looking
for green.
Exactly, you're not looking forCorvettes.
Now you are like why doessociety behave the way they do?
Why does the herd do what theydo?
(21:46):
It's like a mean hoffer, uh,phenomenon there's a name for it
.
It's like a long term name yeah,it's like my last name, it's a.
It's a name chat.
Speaker 1 (21:53):
Gpt will probably be able to tell you in seconds.
I'll have, uh, I'll have myproducer put it in the youtube
video and we figure it out, sowe can all figure it out
together.
But so, so just to quickly goback to Jim's the one Jim that I
do wanna talk about, and it isa franchise.
So I'm trying to full circlethis here.
The most genius Jim businessmodel planet fitness.
(22:16):
They, they market, they putpizza on their front, fucking
donuts, the donuts pizza.
They get you in there for tendollars a month.
Yeah, because they know thatten dollars a month is not
enough to to cancel.
You always have that thing thatis oh, I, I'm going to go one
(22:39):
day, I'm going to go next week.
It's only $10 a month.
If you belong to an Equinox,that's $300 a month.
You're going to go.
If you don't go, you're goingto cancel.
But Planet Fitness, they go tothese shopping centers that have
a lot of volume, a lot oftraffic.
They put a gym there.
They have 10,000 members and 40people maybe show up a week.
(23:02):
That's right, that's, that's areal franchise.
That's doing it.
And they're doing it rightCause they have they.
You go there, you get tanning.
But one of my employees is afriend of mine first and became
an employee now and he says I'mgoing to the tanning salon but
it's just LA, it's just a PlanetFitness, and he doesn't ever go
(23:24):
to work out, but he goes to gotanning and he uses $10 a month
because they have a fuckingtanning bed there and it's like
that's a good business model.
Like how do you, you know, doyou buy a bunch of Planet
Fitnesses because a bunch of fatpeople are going to say I'm
going to go to the gym one day.
And how did they think of thatFirst of all?
That's like that's a crazything to think about.
(23:46):
I want to create a gym thatnobody comes to.
Speaker 2 (23:49):
No one comes to.
Speaker 1 (23:50):
I was listening to Hormozy talk about that.
It's like I'm going to createsomething that nobody wants to
come to, but they'll pay for itand pay me for it, and never
cancel.
Speaker 2 (23:58):
Yeah, yeah, is that genius?
I guess I'm in my own way,because if I'm in the gym
business, I genuinely want tohelp people and that business is
designed to do the opposite.
It's not meant to help anyone.
Speaker 1 (24:09):
It's meant to enrich themselves.
Speaker 2 (24:11):
Yeah, it's meant to enrich the shareholders and the
franchise my neighbor owns threeof them pays 150,000 a month in
rent between the threelocations.
Covid literally put a nail inhis coffin.
He was selling his mclaren, hewas selling everything and it's
in your backyard he owns thoselocations in maryland, wow, and
virginia.
Yeah, my covid destroyed him.
(24:32):
Destroyed him because he got norent abatement.
It was deferral.
So so, look, I hear you and Iagree with everything you said.
Just me, maybe it's my ethics,maybe it's just I want to be a
responsible provider of mybusiness.
I cannot take that brandseriously, because I know that
they really don't give a shitabout people and that just flies
(24:54):
in my face.
Speaker 1 (24:57):
So all of my businesses have been based
around real estate, right?
I have a construction company,I have a property management
firm and we sell real estate.
We buy, sell, flip, rent,whatever, everything.
And that, to me, is the onlything we know, right?
What businesses are you mostfocused on or think that you are
(25:17):
long on?
So you're not long on fitness.
What things are you long on?
Speaker 2 (25:22):
Yeah, Great question.
So, and I like what you're in,I like, I like your business,
whether it's franchise or not.
I like what you guys arebuilding.
Um, I focus on four categoriesand some of this is
controversial, but just let meexplain that because I themed it
right.
So my first theme is thefeminization of men in America.
Like what does that mean?
I'm long anything regarding thefeminization of men, which
(25:44):
means men's health, becausewe're feminizing them, right.
Women are now being emasculatedand men are the opposite, so
it's like what happened there.
So I'm all in on anything.
Ed.
I'm on low t, so trt therapyfranchises are huge.
Average revenues are almost amillion million plus.
I am long anything involvingthe use of tools this fucking
(26:08):
brand.
Speaker 1 (26:08):
Right here this is.
Let me go on a quick tangentand go ahead.
Maybe they'll sponsor the showor something, because I give
them enough money.
So I was telling you, I go tothis, uh, med spa, life med,
it's called life med institutehere in maryland.
There's a couple locations,three or four locations.
So I was telling you, I go tothe med spa, lifemed, it's
called LifeMed Institute here inMaryland.
There's a couple locations,three or four locations.
You go in there and I went inthere to get my levels checked.
So I wanted to make sure mywife and I are trying to have
(26:30):
kids and I just wanted to getchecked.
I train like a crazy person.
I'm doing 15 plus hours ofcardio a week, weight training
the whole night.
I wanted to be checked out.
You go in there and you spend acouple hundred bucks for a
consultation and they just swagyou out.
They give you shirt, shirts,sweatshirts, these fucking cups
(26:50):
that I'm.
I have four of them now becauseI go every week.
I get b shots and, uh, now Iwear their shirts, like, like.
I wear my own shirt, like Iwear it because it's a nice
shirt and they're taken over.
If you go to any gym aroundhere, how many life ventures do
you see now?
Speaker 3 (27:04):
Yeah, it's.
It's pretty often that you seesomebody wearing one.
And every time you go in thereat the um the airport and we saw
somebody.
Speaker 1 (27:10):
Yeah, girl, a lady had the same exact shirt I had
on.
We were traveling to Cabo andwe were like this place is blown
up and all these people gothere and they have health
insurance, but they're still.
You know, anybody with a littlebit of money can go to this
place and they treat you better.
They take the time, like theconsultation that I had when I
(27:32):
first went to my insurance-baseddoctor when I first started
this like health journey thatI'm on.
He basically was 10 minutes.
I was in and out of that office.
I didn't get anything that Ididn't know already.
I went into this, this med spaplace.
I guess that's a med spa, Idon't know really what to call
it.
It's a concierge doctor and youget your blood work done, you
(27:53):
sit with them for as long asyou're willing to pay them and
you get as much information asyou're willing to pay for.
And unfortunately, that's just.
You know you get what you payfor, but these places are
blowing up and you can't walk inthere without spending a couple
hundred bucks.
And then they give you 10 shirts.
Literally they'll give you five, ten shirts and you and you
(28:16):
wear them and it's, it's genius.
So sorry to interrupt you, butno, not at all.
Speaker 2 (28:20):
I completely agree.
Speaker 1 (28:21):
I've been using like crazy and they do trt, they,
they're doing therapy absolutelytrt anything you want anything
you want, but you go in thereand you get your levels checked,
like they check that and I haddeficiencies in certain things
and that's why every week now Igo get it's called like
Powerhouse Max.
They have, like it looks like acocktail menu or a wine list at
(28:44):
a restaurant and it has all thevitamin shots, iv bags,
whatever.
In that case, if you qualifybased on the provider, you go in
there and I go every week and Iget a shot and it makes me feel
better every week.
Speaker 2 (29:01):
A shot or an IV bag.
Speaker 1 (29:03):
I get the shot because I'm a pansy when it
comes to IV stuff, so I just dothe IM shot of.
It's called the Powerhouse Max.
It's got, like you know, 10different vitamins taurine, b12,
not the B12, all that kind ofstuff.
Speaker 2 (29:17):
I do them all the time.
We have a brand called here intown called Forever Young and,
like you said, whole menu I doit.
I'm a big skier.
I got a place out in Park City.
I go out there all the time.
I love skiing and I love tothat out.
That altitude will get you whenyou live where I live below sea
level Right and I'm hanging outat like 11,000 feet above.
(29:38):
So love to get a bag.
I do feel a difference in myperformance, my ability to
handle the altitude, no altitudesickness and you know some
pretty hardcore skiing all day.
So I I completely agree withyou.
You know, you say this and Iwant to make a comment and go
back.
Number one I and a bizarre,just kind of throwaway line,
would you believe.
I'm a hundred ton captain, notanymore.
(29:59):
I let my life.
I have never met anothercaptain in my career.
Speaker 1 (30:04):
That's funny.
Speaker 2 (30:05):
Yeah, once you leave that world, where are you
meeting?
Speaker 1 (30:07):
captains.
Yeah Right, I keep my licensebecause I work too hard, I know.
Speaker 2 (30:12):
I, I, I, I screwed up .
I let it lapse.
I focus so much on trading andwall street.
I let that thing go and I doregret it.
I'll be honest with you.
So don't let it lapse.
Keep it current.
And you're right, it was a lotto go to maritime school and get
that license.
But yeah, I used to ownparasail boats.
So if you're going to hire, ifyou're going to charge people to
(30:34):
be on your boat, you have to bea captain, that's right when
you said that.
It's like I've never heardanyone say that yeah but I want
to go back to my masters.
Speaker 1 (30:47):
It's funny, good for you.
Speaker 3 (30:48):
Nice, but you made a comment about gyms.
Speaker 2 (30:49):
Yeah, you made a comment about gyms and I just
want to say that and I agreewith what Nick said a little bit
where I think it's the worldyou're living in that it's
appearing that more peoplehere's what I'm seeing and we're
talking about it right now.
I'm seeing more and more peopletalking about Huberman, more
people talking about biohacking,gary Brekka.
(31:10):
I'm hearing more people talkingabout that cup you're holding
in your hand and getting a andmoving money, almost like sector
rotation.
They're moving money from atraditional gym and they're
saying you know what?
That place isn't cheap.
I'd rather get an IV bag thanjoin Lifetime at $210 a month or
Equinox, to your point.
So I'm seeing money moving intosensory deprivation, red light
(31:34):
therapy, trt, peptides, nacs.
I'm seeing money moving intoall these other.
I'll just call them as anumbrella statement biohacking
versus.
Did you do your cardio today?
Did you do your strengthtraining?
People are starting to figureout another part of their health
by listening to the Hubermanpod and really getting in tune
(31:56):
to just your saccania rhythmjust waking up, turn the devices
off, get natural light in youreye, go to bed.
It's like little life hacksinstead of just the gym.
So I am seeing, I agree withyou on.
Don't you see a difference inbehavior?
When?
(32:17):
When did anyone challenge youknow sodium, some sodium borate
or some chemical in Froot Loops?
Now you got RFK on nationaltelevision telling you you're
being poisoned.
Speaker 1 (32:30):
I'm a huge fan of him and what he's doing with that
I'm a huge fan.
I think he was a great part.
I think he's going to be agreat part of this next upcoming
.
I don't like to get political,but I think he is the perfect
example of what we need to showpeople, because the stuff that
we are eating is truly, trulypoisoning us.
(32:51):
And I'll just say it here and Ihaven't shared this with a lot
of people, but when I went tothe first test that I got, they
did say I had low testosteronefor my age.
And if you look at me and yousaw a picture of me, you
wouldn't think I had lowtestosterone.
I mean, I got a six pack.
I'm jacked, but it's a thingthat doesn't show and I hate to
(33:13):
sound like a dick, but it's true.
And I asked the lady.
I said does it look like I havelow?
I don't feel like I have lowtestosterone.
I it's true.
And I asked the lady.
I said does it look like I havelow?
I don't feel like I have lowtestosterone.
I just ran a 10K this morningfor warmups, like she's, like
it's showing in younger andyounger males and she says I
don't want to get.
She literally said like I don'twant to get political,
basically, but we think it's inthe food, that's.
(33:35):
That's what she said.
Speaker 2 (33:36):
Yeah, we, we know it's in the food.
Everyone has autism.
Now Like it's like a thing now.
Speaker 1 (33:42):
Yeah, it was that was another interesting stat.
It was, I think maybe I sharedthis on the podcast before, I
don't know.
We talk so much shit on thepodcast, but the numbers were
like in the early 90s it waslike one in 37 people got
diagnosed with autism.
That's right.
Now it's one or one in 1500.
(34:03):
Yeah Right, one in 1500 peoplewere diagnosed with autism.
Now one in 37 people arediagnosed with autism.
Peanut allergies, lowtestosterone, low sperm count
All of these things spiked inthe nineties.
Interestingly enough, and we'regoing to get like our tinfoil
hats on here but it's when thetobacco companies came in, got
the food business.
Got the food business becausethey couldn't put any money into
(34:25):
marketing when we made.
I guess it somebody's going tofact check me on this, I hope.
But they made it illegal tomarket cigarettes, like they
couldn't put commercials out.
So the tobacco companies hadthis surplus of money.
They bought the food companies.
So the tobacco companies hadthis surplus of money, they
bought the food companies.
Now the tobacco companies ownall the food companies and the
same people that were making thecigarettes addicting are now
(34:47):
making the food addicting.
And then we saw the spike inall of these chronic illnesses
and then basically we becomedependent on only a couple of
distributors that have thatcontrol of all the food.
They have all the foodpesticides, all the stuff.
So now we're full tinfoilhatting.
Speaker 2 (35:08):
But I think it's true .
It needs to be.
That's the problem People starteverything out with.
I want to be sensitive to yourfeelings.
No, fuck your feelings.
They're killing us.
What does this have to do withfeelings in politics?
They are polluting our food.
Our children are chronicallyill.
We're the richest, mostpowerful, sickest, fattest
(35:29):
country in the world.
There's something wrong here.
I don't need RFK to tell me.
I just need someone in a highlevel position to confirm our
suspicions that our food ispolluted.
Well, guess what it's confirmed?
I have an app.
It's called Yuka.
Speaker 3 (35:44):
I don't know if you're into them.
Speaker 2 (35:45):
Yeah, All right man, come on Absolutely Like, please,
you can't buy anything.
Yeah, exactly.
Speaker 1 (35:50):
So we were in.
We were just in Cabo two weeksago.
You get a bag of potato chipsLays same brand, three
ingredients, three ingredients.
It it says papas sal and therewas some like oil.
That's it three ingredients.
You get a lays bag here.
There's 76 ingredients in it.
That's right like not.
I'm not saying exactly.
Speaker 2 (36:10):
No, I get your point, but yeah, there's all these the
, the remember we had the oreosyeah like we all said, that they
taste different.
Speaker 1 (36:18):
something's different .
The chips taste different, andthat's.
I don't want to shit on Mexico,but they're not as rich as us.
They're not, as they're not ashigh in the world economy as we
are, and they have healthierfood than we do.
The fruit is natural, it'sorganic because they have no
choice.
That's what it is, it's, theyjust grow it.
You know that's what it is,they just grow it.
(36:38):
So I do think that it's funny.
You were like short on gyms butlong on health.
That's an interesting dynamicyou have there.
Speaker 2 (36:51):
Yeah, almost like a dichotomy, right, it's like man,
that's like jumbo shrimp, it'slike what did you say?
Yeah, Short on gyms, but you'reright, I am a very long on
health.
I think this administration isgoing to flip the script on
everything that we've been doing.
I think it will be make Americahealthy again and I think a lot
of these companies are in deepshit.
The things that they've beenfeeding us are just absolutely
(37:13):
frightening.
It's criminal and people needto start going to prison.
People need to start being heldaccountable.
I mean, look at fluoride.
I mean, what's fluoride?
You got to go all the way backto Dow Chemical.
It's an industrial byproduct.
Where do you put industrialbyproducts, right?
Ah, we'll put it in thetoothpaste.
You want to talk about twostories?
That can't be true.
Toothpaste do not swallowDrinking water, enjoy it, Wait a
(37:36):
second.
They both have fluoride in it.
Toothpaste is saying don't doit.
Drinking water is like go rightahead.
Ah, you calcify your pinealgland.
No big deal you just be a littledumber next year.
So all this stuff is now comingto the surface.
All these quote conspiracytheories are now being
fact-checked and now we haveleading scientists that are no
longer being censored, that areable to now speak freely about
(38:00):
what's going on, and I thinkit's great.
I think it's long overdue.
I'm excited.
You're young guys.
You'll have a longer life.
Can you imagine looking at youtwo Like your generation will
not outlive the prior generation.
That's the first time.
Speaker 3 (38:15):
That's ever happened in history.
That's right.
Speaker 2 (38:17):
That's right.
Your longevity is not longerthan your grandparents or your
parents.
That should really piss you off.
Speaker 1 (38:25):
Yeah, that's why I finally um, I had to make a huge
change in my life.
Luckily, I'm blessed enoughwhere I had the time and the
finances to do so, but peopleneed to open their eyes and
actually make a change, becauseonce this stuff gets hopefully
blown up, when this newadministration comes in and RFK
(38:45):
actually takes that role andruns with it, I think there's
going to be a lot of change.
I hope, I hope, I don't think.
I hope there's a lot of change,so, yeah, so, so what?
So what kind of businesses?
So, besides these like med,spas and stuff, what other kinds
of businesses are we looking at?
Speaker 2 (39:03):
You, you mentioned it and then you and I have been
doing a great job going downlike bunny trails, right, so
I'll?
I'll bring us back, because I'dnever even finished your first
question.
There are four things that Ifocus on.
One is the feminization of men.
Men can't use tools.
Men have poor health.
I am long on any businessrequiring the use of a tool
(39:24):
roofing, siding, HVAC, flooring,drywall, window replacement,
garage door repair If itrequires a tool to perform the
service with feet on the street.
I'm long and I truly believe inan era of AI.
Your local plumber.
These guys are going to own theworld going forward, Because I
think AI is going to annihilatewhite collar jobs, and I mean
(39:48):
annihilate, and I'm not alone onthat statement.
Even Goldman thinks 300 plusmillion jobs could be eliminated
globally just from AI.
Next category we humanize petsand animals, so I'm long
anything involving pets andanimals.
We're not repopulating.
I'm happy to hear that you andyour wife want to start having a
family.
(40:09):
That's great, because that'snot a common conversation with
our youth today.
They're not repopulating.
They're buying pets and nowthey have acronyms for them,
right, like people who have dog,moms yeah right, yeah, right.
Everyone has these furry babies,and so we literally humanize
them, where people almost caremore about animals today than
they do, maybe even theirneighbor.
Speaker 1 (40:30):
My in-laws own a big veterinarian practice.
They're all vets, and mybrother's a vet.
Everybody's a vet, and sinceCOVID it's exploded too.
That's right, that is a good.
So we're two for two here.
Okay, what's next?
Speaker 2 (40:44):
I don't care if you're grooming, I don't care if
you're boarding, I don't careif you're training.
I'm not long on retail becauseI think retail belongs on the
web.
I just don't think anyoneshould be brick and mortar
retail.
I think those days are over andyou're at the top of your bell
curve and if you buy thosethings like, lower your
expectations.
Category number three thiscountry is aging.
(41:07):
In the next decade there willbe more adult diapers sold in
America than baby diapers.
That is frightening.
So the aging, great great.
We're going the same way.
Japan went during ancientcivilization.
Look at the Japanese if youwant to know what's about to
happen to America, if it wasn'tfor illegal immigration and
people just walking in here.
We're not repopulating.
(41:28):
We don't have a future of youthto care for our elderly.
So I'm long anything assistedliving, anything non-emergency
medical transportation.
I'm all about home care.
I'm all about mobility.
I've got guys that own mobilitybrands doing millions just
renting, repairing and sellingscooters and wheelchairs and
(41:49):
assisted chairlifts and strikerbeds.
My next category has a lot to dowith what we discussed at the
top of this call, which isanything involving beauty,
vanity, biohacking, the desireto look youthful.
You're seeing a trend.
We're not repopulating, we'rean aging grain of America.
And now I'm talking aboutanything involving beauty and
(42:11):
vanity, whether it's Botox,whether it's just like we talked
about sensory deprivation tanksor red light therapy or any
type of biohacking, whether itbe IV drip therapy.
I think all that, or nailsalons.
Show me a nail salon thatfailed during the housing crisis
.
You won't be able to find onelike those.
Things are tried and true.
(42:31):
Anything involving my favoriteline with spending with women is
never bet against the spendinghabits of a female, especially
when it comes to wanting to lookyouthful and beautiful and feel
confident and sexy and all thatstuff.
I would never bet against thespending habits.
So those four categories, bythe way, are AI proof and
(42:53):
they're Amazon proof all of them, and that's what I'm all about.
I'm all about try true local.
If you need a service, if youneed a product, you can only get
it here.
I don't want to hear I couldget it on Amazon.
I don't want.
Now I'm here in Teemu.
I don't want to hear I couldget it on Teemu.
I see these people open up CBDoil businesses.
It's like you're out ofbusiness and you just don't know
(43:14):
it.
Yet no one needs a CBD oilbrick and mortar brand in their
town.
That's just crazy to me.
Speaker 1 (43:21):
It's funny.
That's the whole line.
Both Nick and I have homeservices companies.
He started as a landscaper,still owns the landscaping
company.
The grass is going to grow, nomatter what.
My home remodeling, my homeremodeling company I'm doing a
lot of flips for myself and alot of construction for
investors.
But I'm also building kitchens,I'm building bathrooms, I'm
building additions, I'm doingroofs.
(43:43):
I'm doing all that.
That stuff and AI, if you useit.
That's the other thing that I'msuper long on taking.
And we were talking aboutbuying mom and pop businesses.
My project manager a couple ofmonths ago maybe a month or so
ago came to me and he said didyou know that you can upload?
So first you can take yourphone, polycam.
I'm going to give everybody ahack here.
(44:03):
Take your phone, downloadPolycam, pay a hundred bucks a
year, scan the room.
It tells you how big the roomis.
It gives you a picture.
You upload it into chat, gptand say how much drywall do I
need, how much trim do I need,how much flooring do I need, and
it'll spit you out in fiveminutes a spit you out a
material list and exactly howmuch it's going to cost you.
(44:25):
Wow, I've completely cut outbasically 90% of my estimating
time by using two apps, both AIbased, and Nick's doing a demo
job for me right now One of myflips.
Another app is called CompanyCam that uses AI to I walk
through the house with itrecording and I'm just snapping
(44:46):
little pictures talking to thephone, just as if it's a person.
I'm saying just remove thatpiece of furniture, throw this
away, demo this and that's allthose notes.
That's all AI.
It's all AI.
That's writing the notes,taking the pictures, and then I
send a link and it goes to Nickand he can forward it on to his
guys on site and it's a fullscope of work and I didn't do a
(45:11):
thing.
All I did was talk to my phoneand the AI did the rest.
Where before I was sitting theretaking a picture, writing down
on a computer or typing in, aihas completely taken over.
There are people in my industryI know I go to the gym with a
couple of guys, one guy thatused to be competing I would say
(45:32):
competing with me but we do thesame, we're in the same
industry, right?
And there's no way he can keepup with me because I am on
technology, I am doingeverything on the cutting edge
of AI technology in putting itinto the business that the older
(45:53):
generation is not eitherwilling to learn or willing to
implement because it's scary orit's new, it's clunky sometimes,
but when you are willing to putthat time in and learn the
system, I can put so many people.
If I really wanted to take thetime and give up on my health
again, I can put so many peopleout of business right now by
just implementing a couplepieces of technology and just
(46:15):
taking over and that that I'm.
I'm long on that AI stuff.
Speaker 2 (46:18):
Completely agree with you.
Yeah, I, I a hundred percentagree with everything you're
saying and I agree with thoselike what, like, what is your
advantage?
Right, it's not always justbeing smarter.
Smarter is just irrelevant,right.
Speaker 1 (46:32):
I was a gym teacher.
You're leveraging everything PEproperty management.
I was a gym teacher, that'swhat that means oh, is that what
that means?
Yeah, we do $10 million a year.
Speaker 2 (46:41):
That's great Good for you guys, great.
Speaker 1 (46:44):
So yeah.
Speaker 2 (46:45):
I love residential or commercial.
Speaker 1 (46:47):
All residential.
I don't touch.
I do very little commercial.
I know the residential game.
I like 30-year mortgages.
Nick and I are in the same game.
He has 100 houses 100 more.
Speaker 3 (46:57):
How many do you have?
Speaker 1 (46:58):
93.
93 houses.
So we're all long game.
30-year mortgages I don'treally like the commercial space
as much.
Actually, we were just gettingready to buy a commercial
building from Nick recently andwe pulled out of the deal
because of a couple of reasons.
But the commercial game to meis something that can come and
go really quickly.
With the cycle of rates and theresidential stuff it can only
(47:22):
get better.
You can only refinance.
I'm only going to refinance ifit's better.
I have 30 years to pay thisthing down.
I know I'm cash flowing now.
I know the rents are probablynot going to go down Not
definitely, but probably notgoing to go down not definitely,
but probably not going to godown over the next 30 years and
my mortgages will be paid andthere'll be tens of millions of
dollars for me at the end of therainbow.
(47:42):
That, to me, is the game that Iknow.
So I stay away from commercial.
All the people that refinancedfive years ago, four years ago,
and they're eating there.
There's a lot of capital callsgoing on right now in those
commercial syndicates.
Speaker 2 (47:57):
I'll tell you that right now, billions Yep, yep.
Absolutely, there's hell to payin the commercial space,
totally.
Speaker 1 (48:05):
What do you think, Nick?
You're quiet over there.
Speaker 3 (48:08):
No, I mean I agree, going back to that, that the cam
company, that was pretty cool.
I didn't know anything aboutthat, as I mentioned when I
talked to that.
The cam company, that waspretty cool.
I didn't know anything aboutthat, as I mentioned when I
talked to you the other day, andwhen you sent me this link, I
opened it up.
This is really cool.
Next thing I know I pop onsocial media and it's everywhere
just because I clicked the linkto open it up.
But it is very useful toolbecause I would take pictures
(48:29):
and I would edit it right there,type in what needs to be done,
and it'd be annoying because I'dhave to save it and then I want
an original picture, so I'dhave to take a screenshot of it
so I can edit that pictureinstead of the original one.
And when you sent me that andyou were telling me how it works
, I'm like that's incredible.
Speaker 1 (48:46):
Yeah, a lot of technology If you use it, I
think.
Speaker 3 (48:51):
Saves a lot of time.
Speaker 1 (48:55):
Yeah, use it, I think saves a lot of time.
Yeah, and if you're not willingto use it, like a lot of these
older companies, you're they'regoing to die.
Those companies are going to dieand I'm I'm trying to
eventually once I once I reallyfully Dave Shannon this this
weekend said seventh leveling mycompany, when I can really take
away myself from the companyand it's still grow.
I would love to buy an HVACcompany, a plumbing company, an
(49:18):
electric company, because I'mspending millions of dollars a
year on those three things.
And those people some of themare old and they are not going
to want to run their companiesfor forever and there's nobody
to take them over.
The problem is there's nobodyto work for them either, because
the younger generation isincentivized to go to college to
(49:42):
take on all this debt, to dosomething that isn't going to
pay it back, when they could goto trade school for free, like
my old HVAC guy is like I'mtrying to go to trade schools
telling them I'm going to payfor your school if you just work
for me for four years and hecan't find he can't fill the
positions.
Speaker 3 (49:58):
And the problem, and I think that a lot of those
companies who don't have anyoneand they're getting older, they
want to get out of business.
Instead of them selling theircompany, a lot of them will just
go out of business.
They might not even view thatas an option to sell because of
where they think that theirbusiness is mentally in their
head, but in reality somebodycan come and scoop it up if they
(50:19):
happen to establish clienteleand they can lift it up off the
ground and move it forward.
Speaker 2 (50:23):
Yeah, 100%.
Hvac is one of those industriesthat is literally aging out and
no one is backfilling thattalent and no one is backfilling
that talent.
We had a guy on our show thatbought a.
He acquired multiple fourstates Total acquisition was
about 4 million and he wanted toscale HVAC and everyone said
(50:44):
what we're talking about rightnow.
So he ended up going to highschools and vocational schools
and he started recruiting.
This guy built a $350 millionHVAC company, sold it to a
private equity firm.
Today they're doing over 800million a year in HVAC in five
states.
So you're right, we have anissue with the trades.
(51:07):
We have shit all over thetrades.
For years, mike Rowe did allthese shows dirty jobs.
Everyone's like I want to go tocollege.
They come out of college.
They're not ready.
I don't know what they're doingin college, but they're clearly
not learning what you'resupposed to be learning to be a
productive human being.
And now I think you're going tosee a change.
(51:28):
After all those presidents ofIvy League schools testified in
Congress, I do believe nowyou're going to start to see a
lot of people embracing thetrades and saying you know what
the plumber's making?
350 a year.
That's more than some of theseguys at Goldman are making, and
I have no student loans.
Speaker 1 (51:46):
The blue collars are turning white.
Speaker 2 (51:48):
I listen.
I really do believe that maybeI'm in my own way with it, but I
do believe I feel there's atone change.
I also felt like when Obama wasrunning.
Remember Joe the plumber?
the guy's like that I go tocollege, I'm a plumber, I'm
making a couple hundred grand ayear.
Why would I?
Why would I go to college?
You get one hundred fiftythousand dollar student loan,
yeah.
And now, now they're forgivingthe loan, what does that tell
(52:10):
you?
It's like listen, listen, weknow the degree has no value.
Now, I'm not talking about whenyou went to school, I'm talking
about now.
Yeah, yeah, right now.
If you said harvard to me andyou graduate in the last few
years, like that meansabsolutely nothing to me, other
than I feel bad for you and I'mnot, and I'm sure, hopefully,
parents?
Speaker 1 (52:26):
yeah, hopefully.
Yeah, you know rich parentsthey.
Speaker 2 (52:29):
I hate this I hate to say it, but I do do believe
that.
So the trades are back.
It's amazing Like there was nopre-interview for this call.
There's quite a bit ofalignment, which is interesting.
Speaker 1 (52:42):
Yeah.
Yeah, we do have another showto get on, but I feel like we
could sit here and rap for awhile, but we got to get on
another episode, or if you havea show we'll have to pop on,
because I do feel like we wehave a lot, uh, a lot in common,
a lot, a lot to talk about.
Speaker 2 (53:01):
I'll come back one day.
Yeah, I can always come back.
Speaker 1 (53:02):
I enjoyed uh meeting you guys and thank you so much
for your time.
Yeah, absolutely for having meon cliff.
Uh, we'll definitely be intouch and we'll send you all the
links and stuff.
How can people, uh, get a holdof you and you know that kind of
thing.
Speaker 2 (53:12):
Yeah.
If anyone listening has aninterest in exploring
franchising as an investmentvehicle, give me a call.
You can reach me at561-277-3710.
You can visit my websitefranocitycom.
F-r-a-n-o-c-i-t-ycom.
Speaker 1 (53:30):
I'm glad you spelled that.
I'm not a good speller, so I'mglad you spelled that.
Speaker 2 (53:33):
You guys are great, great show man, absolutely.
Speaker 1 (53:35):
Thanks, cliff, we'll see you next time.
Speaker 2 (53:37):
You got it guys.
Bye now.
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