Active Investments for Passive Income – Christian Bachelder

Active Investments for Passive Income – Christian Bachelder Transcription:

0:05
This is the investor mindset podcasts. And I'm Steven Pesavento. And for as long as I can remember, I've been obsessed with understanding how we can think better, how we can be better, and how we can do better. And each episode, we explore lessons on motivation and mindset for the most successful real estate investors and entrepreneurs in the nation. They understand investments, and they're going to be able to help support you because at the end of the day, the buck is gonna stop with you. This is not a strategy where the team is going to get paid based on success that are getting paid, regardless of whether you succeed. So in order to do a strategy like this, you really do need to educate yourself. And that's why working with and finding the right team members who understand this stuff, and then learning what's the path towards getting there is going to be key to success. Alright guys, welcome back to the investor mindset podcast. I'm your host, Steven Pesavento. And each week, we share mindset tips and real estate investing strategies to help you take your business and your investment portfolio to the next level. Today is no different. We got Christian Batchelder. In the studio today, how you doing today? Christian?

1:20
Pretty good, pretty good. Happy to be here.

1:22
Yeah, well, excited to have you. Because I think you're in a unique position where you are working in the real estate space, you're starting to build some semi active, semi passive type strategies for creating that income to be able to, you know, really have that financial independence. So we're gonna get into some things about what you're doing today. And what other people can do if they're in a similar type position, so you're ready to dive into things?

1:51
Absolutely. Let's do it. All right.

1:53
So before we get into the juicy stuff, why don't we start out by looking back at earlier in your life? What events or influences from your childhood shaped who you are today?

2:03
That's a great question. I had a little bit of a unique journey into real estate and just investing minded mindedness. And in general, I was a chemical engineer, graduate graduated from UC Berkeley. And it was funny, I like tell the story, because it was actually real estate that even allowed it to happen. Although I didn't realize it at the time. My mom, when I was young just did the American thing and bought a house, right very average house, you know, nothing crazy, but the equity that she built over, you know, three, four or five years in that house actually allowed her to cash out and pay for my first year at Berkeley, which is really cool. So I like telling people that real estate actually got me to where I am. Just I didn't know it yet. But obviously, graduated from UC Berkeley did not like the industry wanted to be in something where, you know, I didn't have maybe a an income cap or I didn't have like kind of a box that I had to fit in, in the corporate world. So turn my turn my my pursuits towards real estate, I was a real estate agent, became a broker, I'm a loan officer, now a broker, and I'm also an insurance agent as well. So kind of this whole one stop shop idea of, you know, if you come to us pretty much anything revolving around real estate, we probably service, which is a unique concept, but we call it the one brokerage, because we want to be exactly that right? One Stop Shop of somewhere, you can come for everything you need.

3:23
So you're what you're saying is that your mom, you didn't grow up with a ton of money, but your mom put some money into a house started really having that forced savings plan of being a park that money away, and eventually she was able to pull that back out. And that was what was able to support you on going and getting educated and kind of go on the path that you eventually now landed on, which is totally different than what you went to school for.

3:48
Oh, absolutely. But I will still say obviously, the things that I did learn, you know, anytime you're in kind of an educational environment, I mean, people can say you wasted, you know, four years of education of a really good education. I don't view it that way. Right. I learned things pursuing a different field that I still utilize today. Right? I mean, I take those that that logic mindedness and, you know, right now, I'm underwriting, you know, mortgage guidelines and running profit and losses on properties, but I was doing chemical formulas, right. It's the same thing, just a different, you know, a different result at the end, instead of, you know, conversions and you know, reactions. Now, its profit and losses and cash flow, right.

4:24
Yeah. So I think today's strategy really speaks to the investor who is in a position where maybe they're making great income, maybe they're not, but what they are making is enough to be able to save some money to start putting that away little by little, and really taking control of kind of your financial world, and being able to put yourself in that position. So let's talk a little bit about this idea that you've been really starting to implement in your own life, and how that can be a great vehicle. goal for people to be able to create financial independence and wealth in the future.

5:04
Yeah, 100% This is gonna it has some shock value when you first hear it, but we've really been preaching whether it's clients of ours, or people who come to us just for financial counseling, have this idea of one house a year. And that could be one house every two years, one house every three years, it doesn't really matter. The year part, the What does matter is you're investing into a vehicle in real estate. And obviously, I'm biased I work in the real estate industry, but the way the tax code is set up in America, the way that, you know, it's there's preferential treatment for real estate investors versus a stock investor from a tax perspective, right. And, you know, I'm thinking of the people, most likely the listeners of this podcast who, you know, maybe they're looking for alternative investments, maybe they're, you know, they're dumping 1015 20% of their paycheck into a 401k. Right, that isn't tax exempt, it's tax deferred to a later period of time. But instead, if they were to take, you know, 10 $15,000, a year, right, something somebody's making 100k 10% is going into your 401k. If that were to go into a property instead. And I want to say this, clearly, you can create a 15 or 30 year retirement plan, right through real estate that leads to not tax deferred income in retirement, but tax free income. And it's by you know, if anybody follows Robert Kiyosaki, or you know this, that'd be what's it's based upon the idea that you don't pay tax on debt. So what you're really

6:24
saying here, Christian, is you're essentially saying, hey, for those people, who maybe aren't in this bracket of making three, four or 500 $600,000 a year, they're not in the bracket, where all of their money is going to go into passive income, and they're going to focus on creating wealth through fully passive income. What you're really saying is, for those people who maybe are, you know, they're up and coming, they're looking to figure out, Hey, how can I stash away some money that I have today? And how can I get the biggest leverage on those dollars and and they're willing to exchange time for that type of return profile that what you're saying is you can actually go and buy a house a year house every couple years, and start stashing cash, first your down payment, but then also have that renter be able to pay down that mortgage, which over a long enough period of time, you're going to build up equity. And that's going to put somebody in a situation where they'll have financial independence in the future.

7:22
Correct. And that's, it's based on the idea of delayed gratification, right. And the concept is, it's not even necessarily a lot of people buy real estate for cash flow, or, you know, immediate advantage right now. Your 401k doesn't have that, right. There's no immediate advantage that a 401k gives you right now, the idea is replacing that with, hey, if I can create a 20 year plan, let's say, right, I buy a house today that if you put it on a 20 year, 30 year mortgage, it's paid off in 20 or 30 years, take all the cash flow out, take all the tax savings out take all the benefits that real estate takes out. If you just have a paid off asset in 30 years, with the rents appreciation, say if it rents for $1,500 a month, right now, it's probably gonna rent for 2000 or 2500 a month, you know, in 10 years, right? Because rent depreciates the same way that real estate does. But the concept would be you have a paid off asset in retirement. Now, you can go take that asset, take it to any bank, and you can do a cash out refinance, say that house is worth. Let's just play some numbers here. Let's say you bought a $300,000 house, you put 10% down that's 30,000. Okay, you bought a second home, or maybe you lived in it for a year moved out whatever loan product you use, let's say you put 30,000 down. Okay, that's 30% on $100,000 salary right towards maybe a 401k. That's a lot. But let's say you do it every two years. The concept is 30 years from today, you have what you paid for 300,000. Maybe it's worth 500. Now, you can do a cash out refinance and go get 300 or 400,000. And that's your one year earning in retirement. So imagine if I could tell you, you stash $30,000 for a downpayment right now, and that could lead to you having $400,000 in your first year of retirement. Most people take that deal that especially when you consider it's not taxed, especially when you consider that debt is going to be paid by a renter. Right. And if you do that every year, you can have every single year, 3030 years removed from when you bought, subsidized and your retirement. So the property you buy today, this is 2022, you want to be on a 30 year plan in 2052. You would refinance the house you bought today, in 2053. You'd refinance the house you buy next year, and 2054, and so on, right? So you could you could theoretically very realistically turn 100 to a $200,000 a year salary into four to $500,000 a year in tax free income in retirement. That's pretty powerful. What I like

9:45
about sharing this vehicle is just a concept is that once you realize this idea that what we're really wanting to focus on is planting the seed. And there's a lot of different kinds of seeds that we can plant and if we're thinking of About our financial, our financial farm or our financial garden, we're going to want to plant some different types of seeds. And you're going to want to understand well, which of these different seeds are going to be the kind that's going to serve me the best, longest term, and we don't have to stick with that seed for our whole life, we can work our way up to changing to different strategies that help us at different times. In particular, what I like about this Christian is, if somebody has $10,000, or in the case that you mentioned here, $30,000, they can invest with me, they can invest in a 250 unit multifamily apartment. Now, at some point in the future, maybe they can get involved through some other type of offering where we can bring people in with smaller amounts. But realistically, that's a pretty small amount of money, and we grow money over a longer period of time. So for people with bigger money, who's their greatest skill is making money, versus knowing how to multiply it, knowing how to manage it, because then you're in this position where you can actually start building and planting that seed and you're really just exchanging your time and your equity today, in order to create this long term, big chunk of money in the future. And you're making $100,000 a year right now, and you're gonna have 400,000, when you refinance that in the future, in retirement, you're gonna be in an amazing place, because inflation, the quality of your life is going to be better.

11:31
And even a double down on that, once they're in retirement, they can take that four or $500,000, that they're able to generate, and still do something with you. Right? So this thing that may be accomplishable, in their current situation, right? Now, this could be the key to the door down the road, right? I mean, this could be something that unlocks the ability to go invest with you and go buy a 200 unit apartment complex, right.

11:53
And what's important to me is not whether people can get involved investing with me, or even in the type of things that I can do, we can serve a certain type of person or a person with a certain amount of money. And we can add value to people at any level. And it's just the ability to be able to serve as many people it can be difficult. And so you get so much leverage by this. And this is something we talk about a lot on here, as we talked about the idea of making money, versus the idea of multiplying Money, money versus the idea of managing money. And a lot of people who are making sub 100,000, they're heavily focused on managing money. And it can be a great skill that allows you to save more money. But what you need to do, instead of focusing on managing that money, you need to actually focus on making more of it. And by doing what Christian is talking about, you actually put yourself in a position where you're able to make more money, while you're still running and doing what you're traditionally doing. But it's actually beginning that process of multiplying it. So it's not 100% passive, but you're all able to put in management that can help support this. So Christian, if somebody wanted to go down this path, they wanted to start learning how are they going to really understand this vehicle and understand how to get involved in it, what would be some of those first steps, or those things that they would need to do to make that decision, hey, this is a vehicle I want to get in, and I want to use it as one of them to get to financial independence.

13:15
Of course, first step, obviously, is you got to have some funds, right? You can't buy I know, there's creative financing and subject to and these ways that a lot of, you know, masterminds are teaching you can buy property with no with no money down. But conventionally speaking, you got to have money to buy a property, right? You just you got to have money to make money. So in the, in the situation of somebody, you know, making 50 to 100k I would say heavily pivot your, your current environment to finding moments of arbitrage in your life. And that's a term that I'm trying to coin that, you know, for instance, I have I have two cars, right? I only can drive one of them, right? I have my old car that I used to own and I have a new car that I bought. That's an arbitrage opportunity because I could throw that new one on tour and I guess still not really have a decrease in the quality of my life driving my old car, right? And that could be you know, I have a car that may Turo for two or 300 bucks a day.

14:10
Or what you're talking about is for people who don't are not winning in the making money you're giving them some other options are ready for that and move on to on to what actions they need to take once they have that money. Because there's a lot of ways create a side hustle, start doing some consulting, there's a ton of different things on how to get there. Once you're there. Once you've saved up that money, then what does somebody do?

14:35
Yeah, obviously coming to coming to a mortgage broker understanding what you can qualify for but not just as simple as you know, what can I buy? Let me go buy it. It's I believe the strongest thing that you can have is your team, your network, your your your point of references, your advisory council, right coming to somewhere that understands the market that can target a property that you know a lot of realtors don't even understand the demographics of the market. They were Ken right. So understanding like, hey, are people moving to or away from this area? Right? What's the job? You know, consistency in this market? Right? What type of jobs are coming to the area? Is this something that's going to support long term growth? Right? Those type of markets, if you invest there, and you have this 30 year plan, that's going to be something that is makes it you gotta really mess up to lose with that, right? That's investing in, you know, Amazon in the 90s or early 2000s. Whenever went public, right? That's where like, hey, these guys are onto something, right? So obviously, I mean, once you have that money deploying it, so many people, you know, America is a very saving heavy country, in my opinion, you know, people get fascinated with growing the zeros at the end of their bank account. But, you know, inflation, I mean, right now, we're recording this in 2022. Inflation is seven 8%. Right now, you're, you're losing every dollar that's in your bank account, right? You got to make 7% to break even, right, and there's not many great guaranteed investments that make 7%. So if you can invest in an asset class that has multiple different ways to to equalize that, whether it's tax savings, cash flow, long term appreciation, you have to deploy it. I mean, that's a long answer to ask to answer your question deploy, it would be my answer, right, you got the cash, it does no good as if you didn't have you know, it's the same way as if you didn't have it, if you're not using it.

16:16
Yeah, I think just to fill in some of the gaps there for for each of you guys is, if you're looking to go down this path, one, you got to set that target of how much money you're going to need to buy the property to, you're going to want to get that team together. And then three, you're going to want to actually start educating yourself so that you know, when you found a good opportunity, because buying something for 20% more than it's worth is not going to be a good deal long term or 30 years, you're probably going to be fine. That's what's great about this type of strategy is it's low risk, as long as you buy right. And low risk, as long as you have a good team around, you can help support. And not just any team, it can't just be anybody, it has to be people who really understand real estate's local, they understand investments, and they're going to be able to help support you because at the end of the day, the buck is gonna stop with you. This is not a strategy where the team is going to get paid based on success. They're getting paid, regardless of whether you succeed. So in order to do a strategy like this, you really do need to educate yourself. And that's why working with and finding the right team members who understand this stuff, and then learning what's the path towards getting there is going to be key to success.

17:32
100%. And I mean, if you this, the simplest thing is can completely train wreck an investment strategy. I mean, for instance, once you get, you know, once your debt to income is is out of whack, you can't buy property anymore, if you go to a bank, they won't let you you don't qualify right, once you own more than so if you have this one year, one house a year strategy, after 10 years, you can't buy anymore, right? 10 is the conventional loan limit, you just can't get another property, you got to be able to go find an alternative lending solution, you got to go be able to find, you know, non conventional financing or creative financing, whatever that case may be so, and that's all draws it back down to your network, right? Whether it's the realtor knowing or your locality, the lender, knowing your financing options, you know, even with insurance you got I mean, you got to make sure you can rebuild it if your house burns down, right, like you did all this work to save up money, put it down? Can you make it? Can you get it back up again. So if it falls down, right, if there's a flood, if there's a fire if there's an earthquake, so fully bringing that network together, making sure you're getting advisory points from the people who are in that position for a reason. If you're doing that, and surrounding yourself in the right rooms with the right people, you're going to you're gonna have a much higher likelihood of success.

18:38
Yeah, I think that's so key. And so what we talk about the investor mindset is really, when it comes to naming your number, it really starts with first picking your passive income number, knowing how much you want to have, when in the future. And that number, typically, I think the easiest way to figure it out is, what's your expenses today, or what's the cost to live. And let's double it so you can create a better life in the future so that you can live with a feeling of abundance and so that your money can continue working for you. And then two is really setting that compelling vision. What does life look like? Why do I want this? Why is it so important, and then three is actually getting access to the vehicles. And what we're talking about right now is one of those vehicles and one of the key pieces of getting access to the vehicles is getting in community. So surrounding yourself with other like minded people who you can share stories about what's working and learn from but also being able to build that team of advisors, which is what Christian is talking about. So in position, I know you're on the path towards financial independence. I know that, you know, you're working on building that you are in a position where you are really, you're working, you're making a difference for people, you're making an impact in their life and you're starting to buy those rental properties that are going to allow you to be able to create that passive income Come. So tell us about how do you think about this path towards financial independence? What is it that you're focused on? Creating in order to be able to get there? Yeah.

20:14
So I exactly what I'm sharing here was myself, so I didn't buy a property until my business was stabilized, right. So the people who are buying property like to immediately get enough cash flow to exit their W two, I didn't think about like that, I built a business that created enough income to allow me to invest and start scaling that growth. So my first five years being a realtor or lender, like I didn't scale, I didn't exponentially increase, because I was establishing that basis, that foundation of my, my pyramid, so to speak, right. And as you're able to set that ground, it's just like building a house, right? You got to set a really stable foundation, then you can start getting creative, but there's not a whole lot of creativity that goes into foundation, you got to have it be strong, you got to have it be sturdy, right. So in terms of my path, I obviously built my business. Few years back, what four or five years ago, I started buying property, and I bought with these exact same things in mind, I bought in growing markets, right? I bought where people want to live, I bought I bind vacation destinations, right. And my path towards that financial freedom, so to speak, is have an entire, whether that's a network, you know, I employ, you know, people from different fields different, you know, communities, my real passion that comes from what I do, is being able to employ, honestly, and provide opportunities for people that mean a lot to me. So for instance, I employ my best friend that I grew up with, right, I employ my college roommate, right, I employ a lot of their friends. And it's because I've built a community that allows people to flock to it. And really, really, really promotes growth. And I know this is more on the business side than the investment side. But those things can merge because your your relationships can become your investments, right? I mean, every every friendship that I has, has has returned an exponential amount when they're helping me build a company together, right? Or there may be one of them brought me an opportunity to buy a house. And it goes back to the same thing if you just around the right people. That's why masterminds exist. That's why real estate meetups exists, you're never gonna know who brings a listing, that may be exactly what you're looking for. Right?

22:19
Yeah, I think that's so big. So what I want to do here is we've talked about kind of the vehicle in depth that you've used. And that's been really helpful and valuable for you. And it's kind of starting to establish this. But knowing that you're not yet at financial independence, you're not at that point where you're passive income that you do nothing to do to manage, is at that point of covering all of your expenses, let's just go through the process so people can understand how this really works and see it so they can understand, hey, how could I actually use that vehicle as well? So with that in mind, tell us what's your current expenses to live right now, so we can back into what that passive passive income number needs to be? Sure.

23:02
So I actually have I have a house hack situation going so I live in a house with other people to limit my primary expenses. So I'm kind of the David greens, my business partner, he like literally wrote the house hacking, like the whole book, right? So very, my actual personal expenses are very, very, very low. I mean, I'm talking Sub Sub 2000 a month,

23:21
right? So 2000 per month would be your current expenses. But let's say that you're not house hacking. So what would it cost to live in your local area?

23:31
Probably five to 6000, I would say would be would be a fair amount. So

23:35
it'd be about five, five to 6000. So with that in mind, the reason we double it is so that we can live a life bigger and better. You might not want a house hack your whole life. So we want to find out, what are those strategies that are going to kind of get us there. So that really puts your number? I mean, do you think it's 5000? Or do you think it's six

23:52
by six, let's say six.

23:55
So that makes your passive income number naming your first number, the simplest version of passive income at $12,000 per month. So in order to be able to get there, you're gonna need to create investments that are going to be able to do that. What is the life going to look like? Christian once you've hit that point, you're a lot like me, I can tell you're a mission driven guy. I don't expect you to tell me that you're going to retire and never work again. But for you What's that vision look like? For what life would be like once you are financially free once your job optional once in a good question generating really puts you in this position to choose.

24:35
Yeah, I've gotten this question a lot. And I you know, I still struggle with that. I feel because just like you said, I'm a very goal oriented, very mission oriented person. I honestly can't imagine not working and maybe that's my age. Maybe that's because I'm, you know, running a fairly thriving business right now. But it's, you know, like, I want I want it like I said, I'm playing my friends. I want to bring everybody together and have an opportunity. So my end goal probably looks a lot like my current situation. And funnily enough, maybe with taking a little bit more of a step back and being able to delegate, you know, the actual steps that I take every day. I'm, you know, getting assistance and getting property managers and getting, you know, other people implemented into my businesses. So I'd say exactly where I am now, just taking a little bit of a step back and you know, maybe taking a couple of vacations a year, right?

25:20
Do you mind if I use you as a really good example? Because it's gonna make huge, huge for for the listeners? Yeah, go for it, you're driven by something deep down inside, you're going to want to keep working on your business no matter what. But truth is, with a vision, like this passive income is never going to be important to you, you're never going to get to that point where you truly create passive income, you're going to create a very active business, because you're driven by it, it's fulfilling you. But if you don't start connecting to what life how it'll be better than it, that doesn't mean and there's no judgment here, right? I'm just giving you a, I got some actually. So it's not about you going and taking vacations and, or traveling the world 90% of the time and not working anymore, like some people do it. That is what they want. That is like, drive, spend time with the family, my mother, that's my mom, for sure. And that's great. Like, I love those people, too. I'm like you, I will when I hit my number, I will wake up the next day and keep doing what I do, because I love it. But what else? How else would your life improve as a result of knowing that you're optional? Knowing that you have the ability to say no to things that maybe don't you don't? Like?

26:35
I'd say would?

26:37
What would that feel like to be able to say no to things that you don't like?

26:42
Obviously, I mean, it feels good. It's like it is a good question. You know, I'd say that you got me stumped a little bit, I like it.

26:57
See, I immediately jumped to basically what I was raised with which man financial freedom means vacations, you can travel the world. And do that that can be the vision, but it's not, it's not the change that you're saying, you know, the real change comes from, like you said, saying no to things that you don't have to do and being able to have freedom. And I feel like, I almost move in the opposite direction of you know, I want instead of being able to say no, I just want to be asked more questions, right? Like, I want I want me to do you know, to not necessarily have to say yes or no, just like ask me more, right? Let's build a new business, let's build a new opportunity. Let's employ more people, let's, you know, be able to come on more podcasts or touch or, you know, influence more people. That, that I feel like has a lot of staying power to me. So you don't mind me flipping that question. I would say my goal is to get asked more questions and say, No,

27:47
what I'm hearing from you is growth is real big driver for you. So this idea of growth. It's almost as if you've got an attachment to once you hit that passive income number that you and I don't know, I've this my hallucination that that might stop you from growing, if you were to make any changes. But I'm curious, is there anything that you do today, that if you had all of the money that you ever needed that you'd stop doing?

28:15
I've thought about this a lot. And honestly, as of right now, in 10 years, this will probably change. I'm not, you know, completely, you know, living in the clouds and just, you know, ignorant to that. Right now. Probably no, I'm very much, you know, I'm

28:31
on you live on $2,000 a month, bro. You're telling me that if you had that money that you needed, all the money you needed, that you wouldn't go out to eat at a nicer place, you want to have someone do your laundry, you want like calves? You know what I mean? Like, what could that be? If it was?

28:51
That's fair, it things like that right? Going out? And, you know, I guess let me let me set shed some light on it. I've I've hit my financial freedom number, the number that I set, and I keep reapplying it, right, so I just keep getting to a new one. So my first one was 50,000 a month. My next one was 100. My next one was 150. Right? And I've of active income of all incomes, all sources combined.

29:15
True. So this is different passive income is not active in correct if you get hit by a bus, and he's still alive. The passive income is what keeps paying you no matter what. So not saying you're not in an amazing place and growing. But the reason that I wanted to be able to challenge you on this is because what it does for I believe all the listeners who here it is for all the people inside who are thinking like, I don't know, life wouldn't really be that different. I would just do exactly the same thing that I do now. But it doesn't acknowledge any of the stress or the challenges these things that we often overlook. And when we can connect to those and you know, as you get off and you think about some of this, it might get clearer. But when we can connect to those stresses when we can act to the things that maybe we don't like or we can stop We're opening up our mind to start envisioning something greater, something bigger than what we have, maybe we're creating a bigger portfolio, maybe we're making a bigger impact, maybe our mission is going to be able to be bigger, real to reach more people, I can employ more people in my company because I no longer. So anyways, the point of what's really valuable about getting this vision is that we're not just growing just to grow. Even though I'm a growth guy, number one, that's my big driver. So we share that right in common, but we can connect to something that's greater greater than ourselves, we can make an external. One of the things that I learned talking to billionaires is that what makes them what makes very wealthy people wealthy is that they've got two things that they're focused on, they've got goals that are focused on the ego, what it does for me, how it makes me grow, how it makes me look how it makes me feel, what kind of materialistic things I'm going to have, and how I'm going to feel as a result, and then they simultaneously have something that's more altruistic more about other people, how it's going to impact them, while they're going to feel how my family is going to feel, what kind of experiences they're gonna have. And when we connect that to our, our real driving purpose and goals, what it does is it unlocks this massive amount of energy that ends up allowing us to be able to create massive wealth, both in our business actively but also start to see where are the opportunities for me to start setting side dollars for future family because you're like me, we don't have kids, or I don't believe you're married. So we're not at a point where we're thinking about supporting others. But when we can start to get that into our vision for all the single people out there recently, divorce, whatever, when you can start to connect it to somebody else external, there's this huge driver that happens. So with that said, I think we've at least illustrated the point of why it's so important to get this vision, and then that actually allows you because you're subconsciously making these decisions already that, you know, using this vehicle of one house a year is really going to help get you there and just tell the audience because you've you've done a lot in the last year or two as far as acquiring some of these properties. So share with the with the listeners, how many properties or units you have, and kind of what that looks like.

32:27
Yeah. So I invest mainly exclusively in single family homes on a short term rental basis. So I invest in vacation markets, you know, Airbnb, hot destinations, I have 17 Total split up between three states, Virginia, Florida, New and in Tennessee. I invest in properties that I would like to be in, right so I'm a big believer in invest in what you know, and what you want. I you know, I'm not a large multifamily investor, I'm not, you know, the the quadruplex and, you know, the urban center. You know, I want to have that extra benefits my investment of like, you know, I've gone and spend time in my Airbnbs right, that's the unspoken benefit that not doesn't come with every form of real estate, right, like I can go vacation in the Smoky Mountains, right. So that's, that's exclusively what I've done. Obviously, they they cashflow well being Airbnbs. But it's more so especially we're talking legacy right being able to pass down, whether that's to a loved one a kid, eventually whatever the case may be properties that are that I would want, right, like, I'd see a property that you know, the ones that I've had, if I was inheriting that, that would get me excited, right? I'd say Man, look at this, this cabin in the woods or this oceanfront property in Florida. They're like, these are exciting these things get me going right there.

33:54
Driver watching. For listeners who aren't watching, you know, Kristian, tighten up when we got into this vision question earlier, but you could see this light that was coming from him. And we thought about having people experience something that he loves passing that on to others, it's important to find those things because there's something that's going to light you up as a as a listener to understand like, what is it that I'm doing this for? So I think that's so great man. And it really goes to show this is a great strategy. This is a really great strategy, especially when you're in kind of a growth phase of your life. When you're at that point, you want to create more income, you want to exchange time for money, you want to be able to get the biggest leverage meaning for every dollar and time you have invested you get the biggest rate of return. This is a phenomenal vehicle for this time of your life. So you know, there's been so much here. We'd love to have you back on a little bit later to hear about some of your progress and how this vehicle out. But tell us how can listeners get in touch with you if they are interested in In following up,

35:01
yeah, first foremost, I want to thank you, I haven't been challenged like that in many of these. And that was actually really good for me to feel because I, you know, realizing that I may not even understand my drive is something that you may have just unlocked me a little bit there. And I'm gonna, I'm gonna put some more personal attention. And hopefully, that has some resonance with the audience who may find themselves in similar positions. But to find me, the one brokerage.com I guess not everybody's watching, but I got the shirt on here. But the one broker.com all spelled out is where you can find my mortgage company. That's if you're looking to submit an inquiry for a pre approval buying real estate, whatever the case may be. I'm also on Instagram, tick tock V underscore one underscore broker, the one broker all spelled out. And my email is Christian at the one brokerage.com Pretty straightforward. If you ever want to get in touch with me directly, that's where you find me,

35:47
this is so great, really, you guys should get in touch if you think there's any way that Christian can be a value towards the vision and mission that you guys are working on. And, and believe me, my friend, I completely understand it, I see it, I've been in that same position and hack. I've got people around me who are sometimes asking those hard questions or not letting me settle on the answer just to think outside of the box. And, you know, for all the listeners out there, you know, you know, personally, even myself, I was in a position where I was grinding away building a business doing all these things. And I had a realization at a certain point where Wow, okay, if I do get hit by that, that hypothetical bus and I'm laid up in a hospital bed, and I'm still living, you know, what am I going to do? How is this going to support me, and it really did wake me up because I had, you know, a life changing experience, somebody really close to me passed away. And when that happened, it did make this shift. And so the reason why it's so important to be able to connect deeply to that. There's because with that self awareness, even if you're just peeling back that layer, little by little yourself, when you can start to see inside, what is those driver? What is putting you in the position to have all the success you're having, you're going to be able to have even more than you're already having, and you're already doing amazing things. Plus, you'll be able to start understanding, hey, do I want to set aside some money that that makes money no matter what. So with all that said, this is super fun. Thank you all for listening, and we'll see you all in the next episode. Today's episode is sponsored by Vaughn Fitch capital. If you're interested in investing alongside me in the same type of real estate opportunities that I personally invest in, then head over to Vaughn Finch capital and join their private investor network. You can do so at Vaughn finch.com/invest. Join me on that next deal. I look forward to seeing you on the inside. Thank you for listening to the investor mindset podcast. If you liked what you heard, make sure to rate review, subscribe and share with a friend. Head over to the investor mindset.com to join the insider club where we share tools and strategies from the top investors and entrepreneurs and how to take it to the next level.