How to Make Money in Real Estate: The Right Way (Tyler Cauble's Story)
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So today we have Tyler couple on our show.

So how did you .

be tired?

So we met, we were at speaking of that for called Better life tribe brand Turner in denver. And I just had next moment lunch. And he's an eo nash field.

We started chatting, is a real state guy, commercial guy. And we start going down these rabid holes on deals. And next thing you know he's talking about, he has a documentary company because he's his real time entremets s got a lot of businesses.

And I started asking about IT and I brought up our property in ca, dota or america. And he's like, i'd like to go and of course, you know, I lied up when I talk about this place orchan ian is just special. So it's one of the best purchases I ve made in a long time. I have no dead on IT and I probably will never sell IT IT will go to my kids. But anyway, so he saw that and he blew out and you're going to see the results.

What I think was so great about this pic is he did do documented or kenyan. It's awesome. You guys got ta check IT out. It's on youtube if you just go to Tyler cobo C A U B L E, but really he's a real state guy so he talks about, you know, all this commercial real estate that he bought in nashville, some of things that he screw up on early on when he first started, and know he's just such a good mentor to people as well, that I think, you know, people are going na get a lot out of this interval.

or you have to be in the game to know what to ask. And that's what I loved about him when I SAT down next to him. You know, you know, immediately as you start to chat with somebody like whatever business here, and you know, if somebody next year knows your business or that, and all of a sudden, then you just kind of you put a little line out, then IT goes further, further, further.

You don't have far that can go. And so, you know, I was impressed because here's a guy that done really well in real state and knows the right questions to ask. And that's the most important thing about doing a documentary. You can't just film stuff. I mean, he actually knows the right thing to ask and that's why I think is going to be so .

good yeah and I just a documentary on just the property is the casual behind the property is in all this is how all his videos are. It's the deal itself like how why does this deal work to the deal work is good as the expected or worse than expected or and what happened .

so behind the deal of so I think .

you always are going to enjoy this.

嘿， Tyler, great to see you again.

Excited to be here. mad. Thank you guys for having me back on the show and that excited to dive into a trip to today.

I know. thanks. That was great. You guys came out with camera crew before we go there.

Like I yes, I think most people, they always like, how do I start right? Like you, you started. You've been very successful also time in the markets perfectly. And also you break out are all the other stuff. You got restaurants, you got bars. You've got the this documentary company and and obviously part of E, O, which is up then I started in and end up so what do we start with that? What was the first property that you started with?

Yeah that's that's a great question. So I have been interesting on trade into the world commercial area, state drop in the coach I was in sales and really well in sales. A I so lives ever coker, right, kind of the the whole time of nice staying for a while.

And that was incredibly successful for mate, dropped out college out of work for a booting developer uh as the in house leasing agent. This is back in twenty thirteen. The market was entirely different back then and there wasn't a lot of activity going on.

There weren't a lot of businesses leasing commercial space. So yet some vacancy in some class a product that had built. So start to work with him, got sitting on every development meeting every week despite just being a leasing broker.

I wanted to go out of my way to put myself in the those situations. After two years, I learned how to put together development deals and went out and found a project that I knew would check all of their boxes. IT would say, a two pots, five, seven acre.

What there was shown for fifty seven town homes. We did not be able to fifty, forty two units on IT. So I, i've found that deal brought to the company, we put them on our contract, and I ended up partner with them.

Uh, IT was the the deal with lifetime. I got ten percent profit share. I didn't have any money. I didn't have to sign a ni det. I tell people the day I would do that deal time and time again, if I could, so was I was great first deal.

Well, first of before we just gloss over that because at first I I think it's funny because when I first bet Robert is socket years ago, he used to tell people that come work for me for free, and there's a very small percentage people that will go due or or at some kind of a princess ship, you know, coming here, work for people. Leave what you're doing. If you want to learn this business, you gotto learn IT somehow. And they don't realize, like the knowledge that you had for two years sitting there in those meetings, just absorbing everything also not, well, knowing you are going to use that to go out and leverage at yourself. I don't think people really quite understand how powerful that is, right?

Yeah, it's it's incredibly powerful. I mean, obviously, I wasn't getting paid to do any of that right. I was a commercial broker working one person on commission.

If I didn't close least L I yet, here I am sitting in on these development meetings every week just because I wanted to surround myself with the people that we're doing, what I wanted to be doing. And I think that's incredibly powerful. And a if if I had to go to coffee, I was going to do IT. If I had to go pick up lunch, everybody I was going to do IT IT didn't matter. I was going to make I was in that yeah.

that two years that really changed the trajectory of your financial future, your life. Yeah, obviously the legacy everything you're doing is, is a result of that two year commitment.

That's right. Yeah you know thinking back on I like IT was uh you know two years sounds like a long time but it's really not that much when you're thinking about a one hour two hour meeting every week uh, for a one hundred four weeks right? And it's a like you said, I mean, he changed everything.

Most commercial city workers don't get that kind of experience that don't get to be in house. They don't get to see how these deals are put together. And having that side of things, uh, really helped propel me, you know want to strong broken age and advise people from an investment perspective Better. But too, when I started cynically raising capital, doing my deals, I brought A A unique sets of development to the table in addition to my deal fighting ability.

No, I think what what you now know is it's just a system. You just got put IT into a system and you learn their system and then you probably change your little bit. But the reality is it's literally a system right that lot most people don't know. So when you're in the outside, IT looks really on daunting, but it's not it's just assist of when you agree with that .

hunter percent. I mean, I say that all the time. My commercial seat isn't easy, but IT is very simple.

You just got to know the steps to do IT. And and and you all use another question here. I stand about what you know.

It's about who you know, right when I was first getting started and even to this day on the deals that I do, i'm not an expert of everything. And I really don't want to pretend to be an expert of everything, because I always going to hurt myself for, hurt my advisors. So I am the first person in the room to say, hey, I don't know anything about managing a hotel.

Tell me what is like, how is that different from managing apartments? Because I want to know and and I want to get this right. So i'll bring in you know the expert on civilian engineering, i'll bring in the expert on the hotel management, i'll bring in the expert on that local market, whatever IT is uh to to be yd my team and i'm happy to to dev up the pie that way also to .

agree with to learn, like that's the thing that i've learned. Like you know what, I know we going to get to this, but you came out to my hotel and um once when I bought that, I was like, oh no. Now like i've have to put this thing right.

Like, but that's right point. You find the right people and you know I really go up there five or six times vera year and I have the right people in place. And every time I go i'm a sponge.

I'm learning from them. I'm asking questions even though even though I owe IT and um it's awesome. People don't realize how awesome that is.

That's right. Yeah I mean, you want to constantly to be a student of. I mean, that's one thing that you're are both amazing at, right is is constantly asking the right questions and being curious.

I don't think that you could ever lose that if you want to continue to grow and continue to be Better everyday. And um that's why I was fun. Hey, now with you what we were there, I mean, you were you know as much, uh, you know, curious about some other things. You are curious about why we were curious, which you know, to me.

IT makes you so much more fun. yes.

So is that curiosity, what LED you into doing these documentaries?

That's a great question of uh, I think so yeah, it's it's steadily a part of IT, right? Because when I was first getting started in commercial related, I was really frustrated by the lack of educational content out there or the lack of stories, right? You know, if you go to if you go to business school, they load you up with all these case studies, right?

There's nothing like that for commercial city where I can go through and retail studies and learn how this is done. You cut almost just have to put yourself in the room with, you know, the kid maco ose in the world right here, the stories directly from them. And so as the youtube channel was started out of game steam, I thought, you know what, I want to create the kind that I wish i'd had when I was first get extorted.

And IT was basically these many k states on these projects. And so that's that's working from having the curiosity of how are these people finding these deals, how are they pulling them together? Because we often time see the press release right now, this property solved for thirty million dollars.

congratulations. They bought IT for five. There's a lot of money in IT.

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There were rower, coastal rides. What was the ops? What were the doubt? where? Where did you actually lose money? What would you not do again, like it's fun to hear that side the stories because IT humanizes IT.

Let's about with such an easy, good deal, everyone would vote IT, right? So they're had to be a reason or a vision or something that they knew that not everybody knew in order to make the purchase.

That's that's exactly right. And I think that that's that's what makes this journey so fun for me is because we're being intentional about the type properties that we go out and look at. And and you know often times the developers, the investors, the teams behind these projects or as interesting as the projects themselves, what i'm not doing is going out there in turing, a dollar general, we're coming out the orchard again, right? Is that to me is fascinating.

And I think that if you show people how you know, for example, if you show somebody how can actually did water canyon, somebody might be able to do that to the local, a run down hotel, down the street from them, and help turn around. And everybody is neighborhood. And I think that's a really fascinating to approach you to IT was funny.

I know when you came out, we would spent several days together and we were all hanging in out. Just puts to watch nurse and fat in. One of the things that I remember we discussed was that we always have the end in mind at the beginning.

So I think that a lot of times like that, five the example you had worth five billion turning into a twenty five million or thirty million up. You know, nobody ever thinks it's gonna be that. But they always have an end.

They always have A A goal. They always have a target that their their they are marching toward one year, two years, three years, five years, whatever IT is. There's always something at the end, even at the beginning, right? You don't just buy these things blindly and kind of model through IT, right?

That's exactly right. I mean, you know, when you get into that, I mean you hear the solid and real city and IT really is true. But what I I was Younger and real city, I always hated here because I am so tired people saying that.

But you do make your money on the front end when you buy, right? Because if you buy something right, you can mess up everything after that point and still do fight right? If you buy something wrong, IT doesn't matter how many things you do, right, you might not ever recover for that, right? And so that I can I can put the agree and and that doesn't mean that, hey, we've got what exit. You know what guys like you guys like me like, no, there's thirty seven different possibilities or directions that we can take this. Uh, so you know I have a necessarily chosen one, but it's not to say that we haven't thought through that.

Yeah not a very good point.

So that's kind of interesting. So ah you're riskily saying that if you're buying IT correctly, that that's how you get how you make money. And I think so many people, they think that they just have to buy something, and it's all of the things that they're going to do that's going to have them make money.

Yeah, I think that, that is that is one thing that a lot of investors get wrong, IT, is that they get overly eager to just get a deal and they'll buy anything, right? I mean, before we went live, I told I was just again, you have a about a deal in two years and it's not for a lack of truck i've been looking. There's just nothing that checks the boxes.

Note, I could have bought plenty of properties in that time, but none of them really checked all of the boxes to me to be a screaming deal, right? And I think a lot of investors, especially you are investors, they get excited. They get tired and fatigue of waiting for the right one, and they pick one that just good enough.

Well, here is the problem with that. The deal is just good enough is gonna take up your investors capital. It's gonna take up your baLance sheet.

And then guess what? That perfect deal is coming tomorrow. IT almost always happens. And so now because your ballot SHE just tied after investors or i've already put other capital in the deal, you won't get to do IT.

So if you if you buy right on the front end, I mean, like I said, you can kind of mess everything else up. I had, I had a deal where he was the first deal that I ever dead. IT was a five hundred and seventy five thousand or deal, and he was a two tenant, six thousand square foot building.

Uh, in this, in a little super of the ash fall, IT was vacant and so I had to invinted two investors to go in fifty thousand hours each to buy this building with, and i'll show you how much things can go wrong is by first you all some morning a lot right? Uh, we get in there. I said two licenses of tents, and I gonna call that one of my partners has stolen ten million dollars from his investors, and he is disappeared.

And so now, worth grappling, tried to figure out, what are we going to do with this deal. And because I didn't wanted to get frozen, right, the assets, we get frozen by the FBI or the investigation and ended up calling one of the tents and I said, hey, if you buy this building, your your mortgage will actually be cheaper than the red, your pack. Here's how structure red and we fire solid to them for seven hundred and fifty thousand dollars if you run the mah l at a per score foot basis of two thousand and eight. And so it's really, really good Price but five hundred and seventy five thousand dollars or just like eighty or eighty one dollars of flat, even Better Price. So because we bought IT right on that deal, I was able to walk away despite the and still return eight percent annualized .

to my vest on that one. Yeah, actually a point. I think there is a couple of things I picked up on there. One is that just because you can buy doesn't mean you should. And so so what the worst part when you are great title is actually pushing pause when you have momentum. That's so austerity like IT drives me dots like we are capital, we have an infrastructure, we have track record, we have investor wanted buy.

We have all that stuff and then I are you are all going, no, now start the time and it's like it's like, you know it's like beating off everyone at that point, you know because you just try to be beat them away from the deal, you know they're they're literally they're saying we had investors. They were frustrate with us, you know and I was like, guys, it's over. Prices too hot, right? You got a trust me and then they would invest somewhere else, which is fine.

You know maybe maybe they saw up that I didn't. But the reality is, is that that's really, really, really hard. And then the other one is like even org canyon, I have so many exists, if I want on that property, so many vertical ls for a revenue and income and somebody exits yeah you know when you buy something correctly, you have lots of options.

It's right. Me i've experience the same stuff past couple years, right? I have had investors get frustrated with me for not putting their capital the work.

You know they are kicking the door out saying, i've got, you know, this amount money I want to give you, please put in a deal and say, hey, keep in mind we don't have anything right now. And then team members get frustrated, right? Because they want to build up their portfolio.

They want to go out, find interesting deals and work on of the things. And, you know, IT, it's tough, but sometimes you gotta be that guy, right? Because, you know, that is the proof thing to be doing in in certain types of markets. I think, you know, if there are L, P. Investors listening to this, be wary of the GPS that just always have deals no matter what kind of market IT is make. And they always want to take your money and put IT to work because the smart ones that I know, they will turn investor capital away when they don't have the right deals because it's not worth putting an investor in a bad deal just to collect to fee.

When is also the relationship right? Like if you make your investors money, they invest in next deal. If you just have a short term way, looking at IT, you wanna get your fees, but you don't really care how the deal does because you are getting your fees.

That's right. yeah. So we meet you know make sure that your your incentives are properly aligned, right?

Think this is kind of basic, but you know, uh, in terms of ordeals, are investors get to prefer return and then we just have a part of pursuit? Spt, right? Uh, make sure.

And we don't feel of the deal, right? We collective, you know, like one percent acquisition fix, right? I've guys take three, four, five, six percent acquisition fees and that is crazy to me.

I got a major red flag. You're taking five percent on the front end and like this guy is just trying to make a fee and he's not going to be signalized to continue working on this. Um so that is important to make sure that everybody's interests are are a lot we to do that.

Yeah I know we saw the building in two thousand is not a very big one in a couple hundred units and the guy couldn't ise the money like so he gave us non refundable. Then he couldn't perform and couldn't get the debt and equity. So then we gave more time and gave more time and he just kept doing like a hundred fifty to two hundred thousand or additional non refundable fully released.

So when we filly got to the point like six minutes later. He had like eight or nine hundred thousand dollars that had been released to us and we were like coaching him, like you will help you close. We want you to close because also I was like, I don't know how he's buying IT at this Price, but he is and so we were happy with the Price, so I was trying to help close IT.

Anyway, love story short, he ended up closing IT is a long esco a longer than we would Normally do. But you know how you get the closing statement. You say everything he had over a million dollars of bees roll to him that to your point on those acquisitions, acquisition peace and I was like, old man, this is brought loaded too. So it's not only I would call a marginal deal if that, but he front load IT on fees and you know anyway.

he's not around playing that a little bit because people like.

yeah what that means is, well, Tyler touched on IT. You know if there's .

these days, everything in seattle costs more, but a single line of verizon doesn't get one line for as low as fifty dollars per month when you switch and bring your phone. So well, coffee is and costing more here at the horizon, you can save. And dinner for two has gotten pricy.

Verizon, less brice's downtown rent that's not coming down. But verizon, down one line for just fifty dollars a month, pet designer golden udal, so much more. But verizon, a fair bit less.

Even a good old try and true hamburger will cost you more. But with verizon, the same tried and true service is now just fifty dollars per month for a single line on unlimited welcome with auto pay plus this is in fees. Point is, in a world that is always costing more, you can get more for less right now at a seat.

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Let's say the deal is thirty million dollars. Well, a one percent five of thirty thousand dollars of three hundred, down two percent of six hundred, three percent as nine. I would say that he was over three percent, you know.

And the right thing is one that is, in fact, one or last, I would say. And you know, there's no institution on the planet that will even lend you money if you're doing more than one. So what happens is, especially in the syndicated space, a lot of the syndicators were charging two, three, even four percent. I see up up to four percent. So on that same deal, like I might make three hundred thousand, but that I made almost a million and that .

affects the investors well.

because it's all part of the race. So you so it's inside of thirty thirty one yeah so essentially.

yes. And basically well and basically what the end of doing is the investors like more equity has to go in the deal, then pay that guy at fruit and then it's getting Carried in the deal.

And so IT just makes you overall returns significant was and in the likelihood of hitting the returns that you are projecting or less because typically if you're going to do typically a million arfie front, uh, often types those types of general partners will find a way to almost snake IT in to where IT doesn't look like gets affecting the numbers. And that, you know, I mean, obviously, you don't want to be doing that kind of stuff, but that's how theyll snake IT through. But those skills almost never work there. The marginal deals, those those of the investors.

they get really upset. And the ironically, there's a drug correlation between really high acquisition fees and bad syndicators.

Yeah the yeah look at air attack if if you're religous sindicato, you want a bigger slice of the upside, you don't care about the front and fees, right? Yeah that's exactly right and IT all to say like that our sales pitch right like good syndicators their sales pitches. I don't make a dollar until I at least get you your six, seven, eight percent prefer return.

The acquisition fee on the front is basically to recoup the costs of pursuit because that that I mean, there are legitimate costs that you have going into these projects like you know I mean a three hundred thousand, our fee might sound high until you realized that guy probably has at least an underwriter on the teen. He's got problem. You know property manager with team on staff that he's got working on this deal.

He's got you know a project man, there's a few other people that he's actually paying to go to this process. Um so apart, that's a little bit for profit and overhead and a part of this actually to cover your costs. But yeah, I mean, I would much rather have my Carrier on the back in and say, hey, if I hit this I R, or if I hit this return, I get a bigger portion of the outside.

Uh, that way we all win together. Most industry are like. And so you will do IT.

Yeah you know what we do is we we actually take a piece of that role right back in. We pay our Operating costs for the people that help us get the deal. But then what is roll right back in on the L P site. So in other week we just invest IT .

yeah you .

invest in your deal. Yeah yeah, I we invest in every deal anyway. But where's a lot of people? A lot of a city cator, we're just doing IT you to buy cars and houses.

Another thing too to look right, like if you're indicators not investing in their own deal, that's probably a flag to one.

a hundred percent. I made every L. P. I mean, there is no like, sad. You know, everybody should do this.

In my opinion, I personally would never invest with another GPT that isn't investing at least the minimum ask of their advisers. So your your minimum investment is one hundred thousand hours and use the G P. Or try to tell me I am not putting in a cash the deal.

I'm just you i'm standing in the data and I found that i'm running IT like now, so you're not willing to put your money. Where about things I like doing this. Man.

why why? Why one of .

our investors .

about that today, you know cause you know sometimes U K up put IT like you always put the minimum. But you know if you're investing in each one of your deals, you might not be able to do a huge amount end of each deal, but you do invest money in need to deal because you feel confident that these deals are gonna. That's why you're pulling them together.

Yes, that's that's exactly right.

Yeah and and not you. I think you said the right thing, which was I don't really care about the acquisition fee that I am trying to cover my overhead, you know and i'm trying to build a company and pay everybody well, make sure that they're all happy. You know what? I'm the real key is the back end.

Like like what is the property going to do? That's actually where you want to be. You want to be on the upside.

That's exit in commercial, al say is is a long term game. And if you're a if you're trying to play IT for the short term, you're got a barred.

Yeah, that's how we hold most of our staff, really, I .

know, cause cash, al refile cash, refile cash, rec cash, ref tax.

free money.

right right to tax, ado tax. That's actually how .

we acquire orchard canyon is we sold a big project and then we rule IT into a ten thirty one in the org kenyon, with a couple of other investors. And that's how you know orter can and even came to be because canton really visited himself in the .

hotel business. The ten thirty one you know like yeah like if you guys are in the game long enough, you'll realize that this is really as much about saving tax, uh, legally or you you know when when you start to make a lot of money and you start to have a lot of equity and things started to roll and call IT the learning between food Tylers age and my age.

And what what happens is you get to this point, well, you're actually thinking about tax, tax mitigation. You know you don't want to exit all these great positions that you're in because you just pay a lot attacks with you, refinance and and just keep using the bank, then you can pull that money on tax free because it's dead. It's actually out of sale.

So that's the that's the the distinction there. If you sell something, the government wants their peace. If you don't, you just keep using debt. Then then you know then you can just keep harvesting IT. The game is, you know that I was like who you're voting for.

I go out was who's ever going to inflate the most? Because you know like who does what like all our assets, you know this continue to go up in Price. Um no, i'm obviously been a little tongue cheek on that.

But the reality is, is that even the fed has two percent built into their model. So you know that it's at least two percent and it's obviously bit a lot more than lately. But if you just sit back and wait cash flow, manage things well, it's IT sure takes a lot of stress and anxious of a person of IT.

That's exactly right. I me look, you know especially you picked the right markets, right? I mean, nash fell over the last ten years. If you just bought something and did nothing to IT and you just SAT there, you could a triple, maybe even could top of your money, right? And you do just keep going because if you buy in a hot market where people moving these are growing, you don't necessarily have to take the rest to even developed IT or turn run anything you know have got i've got, you know bodies there, just buying IT right there is looking a national outgo OK.

All the path development is going this way you know i'll you a one mile, two miles down the road and just way for to catch up because you know for my office here i'm over decor the pig for anybody familiar with national that's kind of about the east side and this cord or, uh, i've started telling investors and developers to buy on IT back in twenty eight and back again, you can get land for a million dollars in a ker, which every every developer that I talk to us like it's too early. Nobody is going to spend that for taker some pike. You know it's it's way too early.

Call me when things start happening over there. Well, it's at the base, uh, at the base of the is a bike. Is the the new oracle campus was got announced recently? Uh, we've got you know the new titan stadium. We've got all sorts of development going on the east bag.

There's hundreds, if not thousands of apart unity have now been and now opted out simply in land, is now worth over two and half million dollars an acre and five years and went up two and half to x and so a lot of these investors that bed and over here to do developments now they just flipping their land like i'm not able to go to take on the risk of doing anything. Here I can make a butch of money. Moon.

that's the next point. And you know it's so you don't even have to take that next step. You just got to get in the game and kind of know you know where the pot is headed, right? Like as the same goes, you to you want to skate toward the pockets going to be not where IT is.

That's exactly right. That's exactly right now. I mean, there's obviously uh some outside so that right you know get the tax benefits of of doing you know improvements of these properties and and you don't make neighbor od Better so that that doesn't help.

right you know. But you you know again, it's a mix. It's not just you know just you're all kinds of stop. And so maybe we've actually done that with land and entitle IT and got ready and sold that. We made six million hours on one piece of land.

And what offset IT was the um the past of income in the N O S and neoprobe losses that we have from our from our other companies and our other businesses. So so as they started to look at you as a taxpayer and you started look at your whole tax plan. If you just have land and you just do that, you're going to pay a lot, you know a lot of cap again. But if if if it's blended like IT should be, then then you can upset a lot of IT extreme .

cold weather advisor effect this morning, your contractor, you have a contract, a little snow and ice is and stopping you, not today, not any day. Shouldn't your flashing tape be working through IT? All too, only frag tape program, ashes tapes, high performance acquisition, he of sticks, ristigouche ate stucky on the the services and rain, snow, heat and more. So you stay in control when IT matters most show whether who's boss with frog tape program, flashing tape.

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Yeah, I love I love thinking how how tax strategy created or tradgic. No, I are all me.

but I wanted to ask you know that though. So so maybe explain like how you find these properties to start before we dump in order to canyon?

Yeah great question. So typically typically what I do, I mean, i'm fortunate ough to to be asked to come speak bats and and and meet really cool investors, developers all across the country. So for the most part, tips, it's kind of count.

And I bet you know we were we were both speaking at brand and Turners of that up and and no, we happened to sit down next to each other, have long said a conversation and he said, hey, by the way, i've got this really cool property on sedona that now we've renovated. And it's really interesting because you know we we actually own the water rights because you know this property was deeded before, uh, IT was even a state right like that. That's fascinating to me.

So so s let's fear that out with most of them. The handful have been in national al ah and then I ve had a handful that the outside the national that we will actually fly to. And for the most part of you, like you know working through the urban land test tudes, you know coolest projects, looking through watch training on instagram， things that I come across on youtube and i'll just reach out to the developers or investors because I think that um you know the more the more fascinating the property is, the more fascinating the story.

So what did you find special about orchard canyon? We love IT up there. We go up there a few times a year.

Oh my gosh, how much time do we have in this podcast? It's almost be easier familiar answer like that I not find special about. Uh, I mean, look, everything was amazing. Like from from the very first moment poly in right, because you kind of you pull off the the little highway there and you cross the creek and all of the sun are just like in the oasis, right? I think that was it's really need to me how you almost have this this mood setting coming again. I kind of prepares you and and as you get to the top of the hill, you come out into this, you know, it's super grain with the law and all the beautiful trees.

And as soon as we ve got there were regreted by by two of the staff members say, oh, you must be tired else like, go yeah with the beer must be really easy to find me up but then you can get there in and you've got this really old cabins and and i'm a sucker for old antique things just because as as you can probably tell I love stories right I want to know the stories and you know when can point IT out others like the U. S. Borrer story steps on the logs in the cabin because these things are over one hundred years old now I find that to be so need um you know being able to to walk down to the apple watching in the morning and and i'm to me coming from the eastern side of the us and you know I I don't create an apple orchard in the shadow of this like red rock like that was the wildest contrast to me um and of course you know the amazing food, the the even Better company uh I mean I we can say enough good thanks. I thought I was I thought was outstanding.

I thought IT was really fun having you you guys went and what offer IT in a tom car?

The town car out? No, I don't feel a little bit well.

but I don't do the time, referee.

i'm retired. You you keep out to work. I think when you're out here, you know you you like you like you work.

It's it's, I mean, you got to care, guys. You got all the interview, they not set up and the lot stuff happening. So just trying to find a break for you. You know, stuck out really early before breakfast.

Yeah, yeah, he was. He was great. I made here. Here's the thing like I the it's it's tough for me to enjoy those moments with the camera because I like, oh, my gosh but this is going to be so cool for us to show like, imagine being able to show the behind the scenes of this and you know, these conversations that we had.

There are obviously some moment like like a dinner right, where we didn't have any cameras out tiie. It's, hey, it's let's turn everything off and, uh, you know, this part of the stuff that will keep to ourselves. So we had some amazing conversations over data.

Do IT the the top car was the wireless experience, uh, i've ever had. I can't wait for you guys to see the video. Uh, you know, can basically got me to go down this like unbelievably steep.

There is no way any Normal car would do this. Uh IT IT definite scared that. How about me a little bit? Um but can I ve been to asked a couple of times? Uh, no, because I said I I had posted on time and I would do that weekend.

I bunch of people to reach out and they were like, oh my gosh, what was like having that was kinds like, you know, I i'll tell this story. This to me completely acceptable ates to kid as as a person. We were we were driving the top car around and and I had just taken in over.

And you know this things, it's a very, very nice vehicle. And we come around this turn and we start going up the hill, and we just hear the super wild pop because the the bottom had hit this massive rocket. So I kind of slammed on the brakes and I ever can.

I am so sorry and I just broke your time car and IT looks and may goes, no man is fine if you did IT be a blessing I like, wow, that's a really cool way to handle a potentially stressful situation 啊。 What a, what a Graceful way to to handle that. So, uh, that was, there was a lot of five man and and I going to give you props. Can I don't know that I would have been happy about breaking in the top cards. You.

the first .

thirty seconds?

No, find a new life. You guys said you ran into a guy on the trail. Do you wanna talk about that?

Oh, my gosh. And your body from college, right?

Yeah, yeah, yeah.

I thought to remember where in.

So let's put some contexts on this. We quite away, off road into the back country, and we, upon this, make a looking down, probably you, I know, at least five other two thousand feet down, with these beautiful power and red rocks all around us. And all the started four women in a dude with a, with the, with the rice Patty hat, come walking out of how do the thing to do yoga? It's like six thirty of the water or something, right?

Yeah and it's something .

reg like right out of like a depok chopper book and we just elected each other. Like where did you come from because we're out there. But he say, I can't remember, but he was I was .

something about natural el, I I said I was from nature and he had some like loading up comment about nature. And oh, he was like, you know, the red rocks. Here are the music in nasha. It's the same like .

something, and we all like go to do that. So you know.

like to go to for every major city in the U.

A harder percent. He was. He was way too quick with IT. Like that guy has practiced like that sale picks up those women. I swear.

if this guy ever gets a documentation, yeah, we go viral.

yeah. So Tyler will when you do these documentaries, like do you are you doing ing into the different businesses and the cash flow that they have in different things like that?

It's exactly right. yeah. So so that is one piece that I ask the investor or the developer about on the front end because we probably won't do IT unless it's just announced ing story if if you're not willing to share the financial because in my opinion, IT is IT is just as important to learn from the failures as IT is the successes.

And all of these deals have been successful, right? They just may not have been as successful as the investor had initially intended. Or you know maybe they're significantly more successful. And sometimes people get more they get scared about sharing those financials.

But to me, you don't really learn anything at if you don't learn like how much did I cost? What was the biggest expense that popped up that you didn't budget for? How did you handle that? Like those are some of the most important parts of the conversation.

And so that yeah I mean, that's that's a big piece of IT we dive into, you know how did you find IT? How did you build the relationships, what we were, the negotiations. So I I mean, you know, kid, how long do we sit there an hour, two hours for this interview?

Al, like it's it's an intense, very, very well done. It's I it's actually question yeah I appreciate that because .

sometimes you know we even get guessed on that we interview and y're very evasive, right? And I I understand like I understand always not want him to be up up. But when you are visible and like nobody learns anything, right? Like, you know, because we have all messed up, we've all in mistakes. We ve all lost money. And so I appreciate that when you interview someone, you make them kind of pops up on everything because that only way the other people are going .

to learn from IT. Yeah, that's right. You know, I mean, i'm win to be the first first the room like, look, I was million hours of one deal.

I like, you know, I have a conversation about IT. Let's talk about IT because maybe somebody can learn from my experience and never have the same thing happened to them. And i'm totally five with that, right? Like we want to make the money back. It's just a ours.

But at the end of the day, I think it's important to have those conversations like we don't need to be guarded about IT and in fact, like I will encourage anybody listening to this, if you ever lost money on a deal, put the story together, go share IT because I will be honestly you like when I when I started telling investors like yes, I because that's one of the questions always get, have you ever lost money in the deal? Yes, I will lost a million dollars. Here's exactly what happened. Here's how I am a IT. They'll almost always still give me the money, right? Because now they know if they get into that situation here, I was going to have IT important to be possible.

You know that living less event I do every year. So we got hacked and like like two weeks of four um literally almost five hundred thousand dollars. And um you know we end up cause some of the back where we still lost almost three hundred.

And but but the point is this right after that happened, I go to taro, I go let's let's film this, let's tell her body. Let's yeah, let's get up so we we went up up in front my mastery and collect, which we had. And I said, we just set with two chairs and said, and walk through the whole story just so everybody in the audience could hear what happened.

Us, you just so they would. And and so everybody is like, thank you so much for china. The story we had no idea. I mean, these people went to links and and setting up domains and doing zoom calls and doing A I with know the voice of of some of the staff. And so I got IT was a you know was an orchestrated thing that there was weeks.

But the point is that just because we were we are both like yeah unless he's an E O, of course not in acasta and and he's like that would be great. So we did IT and actually we going to do a little clip on IT too just to teach like people don't realize that is kind of the point. It's not it's not a embarrassment.

Yeah what wonderful, right? Because it's only a failure if you don't take anything away from IT the fact that you're going yet like, yeah okay, you spend a few hundred thousand dollars learning what it's like to get hacked. Now you can make sure that that never happen. See you again here here. Here's the thing that didn't happen for .

three million. And now hopefully I won't ever this happened to me. This is how they did IT. And immediately we took things into action you do on my on my company and so to your point, I I looked at IT as three hundred thousand or lesson and you know that they shot up a lot of things that I didn't understand yeah .

it's it's so important to have take away for things like that because I mean, at the end of the day, um I mean the amount of money that I ve spent on lessons like that, something that out of IT, it's just a story i'll take.

These guys do a great job on their documentation. This is going to be awesome. Some were so excited to see a working everyone, go watch this video on youtube.

Thank you so much. Ah it's, uh, you can fight IT and on youtube either other my name tel coal uh hopefully be able to provide you .

all with the link this week before he is tired. C that's right.

Yeah uh you can follow me on instagram at commercial in nash fidos underscores as spaces in between the words um yeah that's where you can fight .

IT you check IT out and also if you're interested in checking out orchan yan, just go to enjoy orchard canyon that cob and you can see photos of the resort.

Highly recommend that you do that. By the way, this i'm obviously not getting paid to point, but if you want to do a retreat, IT is going to be hands down, one of the best Prices you have to say to be. I like a twenty to thirty person retreat. Uh, and also, uh, take your girlfriend, take your wife. A the .

love I got married there, so is beautiful.

Yeah, I I don't buy.

Hey, any final words.

H, D, you know, the only the word that i'll say is just get out there, uh, do your new diligence and do IT right. And me, put put the work at a commercial state is an easy, but IT is simple when you get out there and use around yourself of the right people, if you're working to, can show you've already put yourself in one of the right rooms. So what? The other .

four higher? Always great connecting in. Man, I can't wait to see the next time I mountain the nash fill. And if you're out here, least let let us know.

Yeah I have to bring that out there. It'll be a good time and you thank you is let's go. Yeah so much fun. Appreciate you as .

came and cheers.

You've got questions or reilly auto parts as answers need a pro. You can trust who we've got that to. No matter what do you need our professional parts. People have the training and expertise to help you do things right. Deep automotive knowledge, just one part that makes so rarely stand apart the .

professional parts people already at all parts.