Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby 💵 EP119
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Ladies and gentlemen, welcome to the Money Mondays. I'm here with our guest, Mr. Justin Colby. He's flipped over 3,000 homes, but he's doing real estate investing, podcasting, personal branding, speaking, and all the things in between. So we're going to dive into all those different topics. But

But first, as you guys know, this podcast episode will be between 32 and 38 minutes. Why? Because the average workout is 45 minutes. The average commute to work is 45 minutes. So we're going to keep this episode to under 38 minutes for your listening pleasure. How you can help us since I've been running this ad free for like 115 episodes in a row, it's because I want you to have an enjoyable listening experience.

So like, comment, subscribe, share this forward to your friends from the past, present, and future. These are the type of episodes where you have a real entrepreneur that's done real business. You're going to want to share these real podcast clips or the full podcast with your friends and people in your office and in your household. Now, we're going to cover three core topics, how to make money, how to invest money, how to give it away to charity. But first, we're going to have Justin Colby give a quick two-minute bio so we can get straight to the money.

Let's go. So I've been an entrepreneur since I got out of college. Graduated in 2003 and went straight to door-knocking sales. Turned that into a business-to-business door-knocking sales company.

caught pneumonia because I was doing it in Boston, Massachusetts. Then turned that into the real estate empire I have today, but it didn't come without a cost. Lost my home to foreclosure. RuPaul man took my car, sleeping on a couch and just decided what I wanted, which is the life I have today and who I needed to be to get it. So the last 18 years I've been grinding it out, working, hustling, putting together systems operations and built what I have today.

A lot to break down there. Oh, yeah. That's it. All right. So first on the make money side, what do you think holds people back from making money in real estate? Do they think they need to have too much money? They think they need a really good credit. They think they need to have all the experience. Walk us through what holds people back in real estate. All that. I mean, at the end of the day, the biggest hurdle I think people think about, and it's a myth, is that you need to have money or you need to have credit.

You can fix and flip homes today, right now in Miami or Scottsdale or anywhere you want with no money and no credit. I do it still to this day. I have money. I have credit. I still don't utilize them on transactional real estate. That is different when I buy apartments. It's different when I buy storage, et cetera. But the biggest myth I do believe on the transactional side is people think they can't get in. They can't flip homes. They can't do whatever because they don't have the cash.

Not true. I've proven it time and time again. I've been coaching for 13 years exactly how to do it without any of your own cash and credit. Anyone can do it in any city sitting from the couch. I mean, this is an industry literally very similar to what we were talking about social media.

Real estate you can do anywhere. You don't have to live in the city, which is another myth. Like, I don't know if my market's the best market. You don't have to live there. You could be on a beach in Fiji or Thailand living incredibly well and doing deals in, you know,

Oklahoma, doesn't matter. So that is another thing is people have to realize like this is as virtual of a business as you have ever wanted, especially if you're not fixing flipping. If you're transaction wholesaling, you could do it absolutely anywhere. I wouldn't encourage fixing flipping virtually until you have some some.

resume behind you to say the least. So you just said something called transactionally wholesaling. What the heck is wholesaling? Explain to the audience. Yeah, that is a very transactional. You don't need any money, period. Anybody's money. You don't need any credit. There's no loans. You are essentially assigning your interest in the contract to

over to another buyer. So like this is very common in a lot of different industries, most notably is the car industry. Assignments are very common there, right? But you are contracting a property with a homeowner and then that interest in that paperwork, you are assigning over to another buyer. So all the terms of that paperwork transfer over to the other buyer and you take a fee in the middle to do so.

And so to some extent is similar to being a realtor, even though a lot of realtors hate us, they think we're stealing their business. We aren't you realtors, we go after different types of clients typically, but there's a fee in the middle. And it's because we put the deal together, we put it all together, we found the buyer, we lined up the seller just like a realtor would, and we collect a fee in the middle.

So when someone out there listening, they thinking about making money in real estate, they hear about Airbnb, fixing and flipping long-term rentals, buying and holding all the different things that they, there's so many options, storage units, commercial real estate,

Oh my gosh. Yeah. So many options. How the heck can someone research or decide or figure out what the heck they go into first? So this is another, when you pose the question, that's another reason people don't go out and go get it is because it's so overwhelming and all of our mutual friends are out there on YouTube and podcast, whatever. And to some extent they all have some different version of a very similar content strategy. Right. But again,

The reality is if you just remove the minutia of overwhelming, like drinking from a fire hose, our business in real estate is no different than any other businesses on the planet. It is about going and finding and lead generating. That is it. You are trying to lead generate for motivated sellers. If you can find the sellers, everything else will fall in place, but you need to be a great marketer. You need to understand who your avatar is and then you market to them. Direct mail, TV ads, PPC, whatever.

TikTok ads are great for this right now. I mean, there's literally the same business model you would use for any industry right now you would use for this. And by the way, just a little known fact, everyone in my space talks about you need to go find a motivated seller. No, you don't. They are everywhere. They are on the MLS. That is what it is, is people trying to sell their home. Those people are motivated. They're already actively trying to sell their home. For sure.

Call the agent. Find a way to negotiate a price that works for you as an investor. From there, you have a free deal. You assign that deal for two grand, five grand, ten grand. You have an infinite return on your investment, which is your time. And you found the motivated seller. So what if someone is thinking, you know, I want to go bigger. I want to go buy a fourplex or 16 unit or a commercial building that's a million bucks or four million bucks or five million bucks.

And they want to syndicate a deal. What is investment syndication? So that's where you create a fund, right? And so you syndicate based around the investment. And there's a lot of different structures. So I don't want to... I'll talk pretty generically. But, you know, there's a fund that you put your money in and that fund typically will give you a preferred return. And some funds take ownership and equity, which would give you the same ownership and equity. And then some funds are just a debt fund. It really...

depends on who set up the fund, what they're doing. But that gives you an opportunity to be in people's world. So Grant Cardone has done this brilliantly, right? There's a lot of people who have done syndications. He's just probably one of the bigger names. And so I have owned several different funds. I don't do long-term syndications currently. I actually would rather almost self-syndicate, meaning, hey, Dan, we have an apartment building in

Oklahoma, you want to come in, have ownership, have the tax write-offs, have all the upside, have everything. Let's put you in the operating agreement. You're now an owner with me. So currently I like almost self-syndicating just one by one kind of hand-to-hand combat, if you will. A larger fund syndication brings in, you could have hundreds if not thousands of people invest into the fund.

So what if someone's like, you know what? I don't really know real estate or maybe I want to do it later. I'm still researching. I just want to invest into a fund. I want to put in money into this $20 million fund, for example, that's going to go buy storage units. That's right. What ballpark should I be hoping for for return if I'm putting in $100K into a real estate fund? Teens. If you can get to teens, to high teens, I think that would be a good fund. Like 13%, 18%? Yeah. I think that would be a solid fund.

I think if that's really what you're trying to target is a return on your investment. So if you're going to go into a syndication, most syndications just want to give you a prep on your investment. Right. And so if you have someone offering somewhere in the teens total IRR, like you could get into the 20s, especially if it's a debt or equity fund, depends on again, there's so many of these. I'm going to speak in generalities. People that can't spell IRR. What is that? Internal rate of return.

And so I just think there's, I like the idea of investing in real estate passively for those that aren't day to day in the grind or don't want to be right. The Dan Fleischman's of the world are not going to go out there and comp an apartment that might be a great investment for Dan. But he's like, Colby, what? Colby, here's some fucking money. I don't know if you're here. Because that is the right way to do it is just give me a return on my money and I want it protected. So like I own blue chip stock only. You do speech after speech about diversity, like investing.

But I'm not a stock guy. I love Amazon. I love Tesla. I love Facebook. I throw my money at them because it's safe, it's secure as it can get. And I'm out. I don't look at it. Right. Same thing with crypto. We talk a lot about crypto when we're sharing stages. You go deep in that. I love crypto. Love it. I don't day trade it. I just I just throw money at it and say, let's keep going, guys. Right. Like and so for me, real estate is a lot more of the

I enjoy it. I love the art of it all. But it is never passive. That's another thing I would tell people. People are like, oh, I want to get into real estate because it's passive. It isn't until you get to scale where you can be hands off because there's enough revenue coming through the machine that will pay for the property management and overall management of everything. But until you can get to scale and scale is...

say minimum 100 doors none of it is sexy on the way to 100 doors it's just not right you will not make as much money i literally have an apartment right now 32 doors that apartment is going to make me roughly 40 000 a year

I'm bald because of this apartment not really but like it's just a pain in the butt like that's not a sexy return but if you have 20 of those sure now we're talking about a nice little day right so I just also want people to understand like I think everyone should be everyone should be in real estate it should absolutely be some level of diversity within your portfolio um should everyone be actively transacting in it like wholesaling or fixing flipping I

I love it. So I'd say is something fun to do. The challenge I see is TV is really romanticized fix and flipping. Yeah. So many shows. So many shows. And when you speak to the actual people that you and I know, the numbers aren't totally add up. Right. And so you go,

There's a lot more loss in the world than there is profits. So I'd really rather people like the Burr model is probably my favorite to suggest for a newer person. What's that? Buy it, you rehab it, you rent it or you buy it, renovate it, rent it and refinance. I love that model because then you are effectively kind of doing that whole ecosystem of the sexy part and you're buying it and rehabbing it and

But then you're asking for a bank to take your money back out. Usually the bank will give you 75% of that number. So you want to be all in for about 75%, maybe 80% if you have the right bank. You can own an asset for no money in. So talk about a brilliant way to invest. I'm going to make an initial investment within six to nine months. I'll have 100% of my investment back. I might only be making $200 a month, which will not change anyone's life, but it's an infinite return because there's no money in the deal anymore.

That is a model I really can lean into when talking to like newer individuals. So you mean like buy a place for $750,000, for example, throw 70 grand into it. Now you're in for 820, for example, and then get it to be worth a million, 1.1, and then try to refinance 750 ish. That's right. And then you'll have a family that wants a nice home in a nice area. Pay five grand a month and live there. That's exactly right. All right, guys, I'm going to talk to you about the dummy tax.

So the dummy tax is, let's say that Dan wants to do a fourplex and I'm going to remodel a fourplex. And Justin Colby is going to buy a fourplex on the same exact block. Both these fourplexes are $1 million. I'm going to go Google search, General Contractor Miami. He's going to text his friend, hey Robert, how's your kids? I need you to work on this fourplex I just bought. I need you there tomorrow morning at 7 a.m.

Um, how much budget should I spend on $1 million fourplex? Uh, Hey bro, it's going to be 80 grand. I need to just stay within the budget. Obviously, uh, tell your wife I miss her and her and her, my, her, my wife should hang out soon. Um, all right. Uh, where do I buy supplies for fourplex? Um,

Alright bro, this is what we're going to do. Justin's going to go through every single detail from the front door to the back door to everything upside down. The plumbing, the details, ring security cameras, remodeling the marble, everything that I'm going to go pay full retail for, he's going to get it wholesale or at cost. He's going to get it shipped in one week. It's going to take me three months.

And by the way, I found the exact same general contractor, but he's busy because he's working on Justin's place, and he's going to take half a year for me and do it for him in one or two months. You see the difference? The dummy tax is...

I'm trying to figure things out as I go. I'm maybe paying full retail or paying for things that I don't necessarily need I'm gonna go get like I'm gonna get like eight marble chandeliers and he's like nobody cares, right? I'm gonna get and he's like you can get chandeliers, too But I'm gonna buy them for 400 bucks each I'm gonna spend four thousand each like all the little details Justin's gonna do more efficiently because he done it three thousand freaking times

3,000 times. And so whether it's my first time, second time, third time, I'm never going to catch up to Justin Colby in this example. And so the dummy taxes that you can avoid is one, research. Two, hire a mentor or coach or get courses. Justin Colby teaches. There's people that have amazing podcasts like him, et cetera. Go learn from people that are out there.

Three is do what I do. I co-invest into deals, right? I invest in real estate funds. I invest in fix and flips. I invest in people that I've known for years that I like and I've watched them go through the hard stuff.

Can they have failures along the way or lose a little bit of money sometimes? Sure. But if they've done it 3,000 times, I'm guessing 3,001 is going to be okay. And the one-off chance that it's not, I'm sure 3,002, 3,003, 3,004, 3,005 is going to be great, right? And so economies of scale also is they're going to buy supplies cheaper. They're going to buy everything cheaper because I'm going to go pay for lumber for one house. He might be flipping nine houses this month and pay for lumber at wholesale. See the point?

And so I like to co-invest into deals. And so for you guys, just research, try to understand everything you can before you dive into fixing and flipping and remodeling before you just like, I'm going to buy a house and I'm going to buy a fourplex and I'm going to remodel. It's going to be great. It looks romanticized on TV like Justin was just mentioning, but do as much research as you can. Listen to the podcast, buy the courses, go to masterminds, hire the mentors because it'll literally change your life forever. Just learning all the tips and tricks. Okay. Someone's finally made some money.

Right? Yeah. Now they got it. They've done six houses. They got their swagger now. They're in the game. Maybe they even quit their job because they got 12 grand a month of rental income coming in. They're doing it. Yeah. What is the turning point where they should feel comfortable to actually bring people into deals with them? So I don't love so here, you know, it's funny after I don't know how much money I've raised over time or real estate, but a lot.

I don't love when people don't quite have the experience to bring people in for sure, because now you're creating a friendship that Dan and I can be the closest friends of all time. And then the one deal, the one deal that takes 14 months instead of nine months and it becomes a loser and you go, sorry, Dan. And then now the taco nights aren't as fun for me and Dan. And it's like this. So I'm really cautious there. I'm not saying you can't, but if you do it, I would say be extremely prudent and

make sure they're well aware of like you're an investor there is risk of loss if we lose together you will eat 50 of that loss and i will eat 50 of the loss in paperwork in writing notarized on documents because the one time i didn't years ago i found myself in a three-year lawsuit and i would say that because i've raised a lot of money but i keep it very straightforward of like

It is transactional. You're looking for a return. If there is a loss, we share. That's it. So I think it's up to them. I have a private client right now that just did this with a friend. He wants to be a little more ambitious. I'm pulling him back and saying, hey, your guy has the checkbook. I get it. But like do one or two with them. Let him create the certainty that this is going to work for you guys. And then let him lean into like, hey, let's open this up. Then it's like, all right, as long as the paperwork's there,

I would have a lawyer do it because the last thing you want to do is have a discrepancy of what does a loss mean to everybody? Because that's where it gets sticky is when it's all going great. Everyone loves each other. Of course, the one deal that is an actual loss, then you have to deal with it. So I would tell people, wait as long as you can. And then I would also then say, if you were going to do it, I wouldn't always do it on flips and how I would structure it on flips. If if you're going to do it anyways and not listen to me.

That's what people do. I would give him a return. Let's just say I give Dan a 10% return and or 25% of the profits. That way he has an opportunity that is more enjoyable for him that like if we hit a good deal, he's going to be making more money by having the profits. So you have kind of a lever that gives you both opportunities and then do it more in the BRRRR model than...

The fix and flip model because the BRRRR model, at least you have the opportunity to fix and flip or keep it as a rental because you're renovating it either way. So you need to underwrite to a BRRRR because that way if Dan and Justin found a deal that the contractor took too long, the city stopped us, whatever, whatever, we can say, hey, let's just hold this together. It's not ideal, but at least it's not a loser now.

Storage units. Yeah, I have become mentally obsessed with them the last couple years. I don't have any I'm part of two funds that I invest into that have storage units Yeah, so I've exposure that way but doesn't feel the same as like, you know in there exactly And so I like it because there's no bathrooms and there's no tenants. I

That's why I like it. I love that concept, especially at scale. Yeah. Right. Because we see some of our mutual friends like Bobby Castro's got $700 million apartments and Brad Sumrack's got 11,000 units and Vina Jetty's got over a billion in commercial. Like we have friends that have got $1 billion plus of apartments, but also hear some of the stories of like, I couldn't get the tenants out. And especially if it's California, you know, those types of things. So they've built up generation of wealth in this business. So obviously the greater good is definitely there.

But I have been thinking about, man, storage units are really interesting to me because I am not going to be active in it. I don't want to hear about tenants and situations and plumbing and blah, blah, blah. So talk us through the storage unit side. You mentioned that you've done a little bit of that. What are your thoughts on it? I have one unit I would love more. It was brought to me by a storage unit. He's a partner. I'm a partner in the deal, obviously. But that's his main business. Mm-hmm.

And so he basically came to me and said, "Hey, I'm looking at buying several, I could raise some capital. Do you want to be involved?" And I was like, "Absolutely."

But the idea of why I want more is because of what you're talking about. Like it's a pretty straightforward business. You want to, there is a CapEx side of that. You want to create the valuation really fast to go as high as it can really fast. And then you kind of just are going to end up sitting there. So things like security systems, paint, a gate around the complex, those are like your rehab, right? I mean, that's really the extent of it. You essentially don't have any tenants. You do in the sense of you have a client that pays you every month and

But if they don't pay, you lock their stuff and then sell it in 30 days. Like it's the most easy transaction. It's so spreadsheet driven that anybody that is good at spreadsheeting math, like at a little bit can look at something and say, that's a good ROI. It's that simple because you don't have the variables you would with a single family home or an apartment. You just don't. There's not the human component of it.

And so I love them. If I had more time in my life, I would probably focus more on that. But I've invested so much energy time in the residential space. I'm there, right? But I would say most people, like a Dan Fleischman, watching this, listening to this, have some intrigue in storage. It is a great place to put your money. Stuck in my, I'm thinking about it right now. Yeah, you should. I just like storage units. The storage unit industry is so unique because you have the big box storage units that we're all aware of. Those massive ones, right? Yeah.

It's hard for us little guys to kind of do that unless we build them. But you can build them. So one of the things that my partner and I were looking at is we were looking at an old Toys R Us in Vegas. Oh, really? But then you build, so you pop the top of the Toys R Us, take it to five stories, as long as the zoning can happen, and then you build an internal storage facility.

And everything's inside the store, right? So there's a door just like a store, and then all the storage facilities are inside. And it takes a boatload of money. I think it was like a $20 million raise we were going to have to do if we wanted to do it. But oh my God, it is just, it prints money after that. And it's all inside because Vegas has that extreme heat and whatever, and so outside storage isn't ideal. No one ever canceled their storage units. They just forget it. And then you lock it and then sell it. And it's just...

Love it, but there are different verticals right like the really kind of small mom-pop stop people You want it like you and I would only really want to be looking at 50,000 square feet or more Hmm would be where we would want to be investing or buying or whatever But there's a lot of these like 20,000 square foot spots in Tulsa Oklahoma that you could go make four or five grand a month and Maybe that may not feel like a lot of money, but like compounds. Yeah, you'll get fucking a hundred of those things, right? I

Right. And it's like really not. And you don't have to even do everything I just talked about. Like those little ones that are 20,000 square feet, no real need for security. They are smaller. You guys all know the ones we're talking about, like usually kind of on the side road of the freeway. Like it is just awesome. Right. And so I'm like you. I have this like want and more to do it. I just got to find the time. So what do you spend the time on? Which what are you into the most?

Right now so last year I bought four apartment complexes. What? But they're all burnouts essentially they're all like vacant and just destroyed. Yep. And so a lot of my time right now is turning those right because they are great upside opportunity if done right. Are there tenants or they're not tenants? No there's no tenants right now. Got it. So all the equity I raised is equity and

No debt meaning I don't have to pay monthly and it's all for the upside So again, you call a day and say hey, dude I know you need a tax write-off because you're gonna own it with me. You want the upside? You want a resume that has commercial on it? We'll have an exit in about five years I can't pay you monthly in a loan style debt But I'm gonna give you the equity that gives you all the other stuff In fact, I'll give you a pref and I'll give you 10% of your money while it's accruing and then when we refi out with the bank and

I'll make sure you get a minimum that your interest that you're owed plus whatever appraisal we can get. I'll give you as much as your principal back. So your principal or I'm sorry, your interest plus your principal on the refi, there's a chance you get 50, 60, 70, 80, 90% of your principal back on the refi if it's done right. And you're in it and have all the upside, all the tax write-offs, all everything. So I like the vacant model. The downside of the vacant model, there's no money coming in.

Right. So when things go bump in the night, you're like, oh, man, there's like, I just got to stroke a check for that. There's nothing to do. There's no money coming into the company. Right. But there's there's pros and cons to both. Right. I think I think the next one I'll buy will be performing to some level because when the bumps go in the night, you go, oh, no. OK, daddy's got to go cut that check.

But the upside is also that like we can really incentivize the value. So we're taking a general area that probably would have a $2 million type of apartment. And because of how we're building the units, we're going to get it to like 3.5 million, which will then lift up that area. And then my thought is if we can start to control more of that area, we'll kind of have this resource of a, like a localized like economy that we built that lifted the values because the town of Birmingham city of Birmingham is,

They're going through a massive gentrification. The city's putting like $50 million in to create this entertainment district. And our apartments are right there, like a mile away. So it's strategic in that sense of like, if we can just value add this whole area, that's the game. So there's one question that I ask on almost every episode, and I've never gotten the same answer before. You go build up thousands and thousands of units, and then 5,000 units, and 8,000 units, 10,000 units, and

And maybe 50 years, 100 years from now, however long until finally, sadly, it's time that Justin Colby passes away. But you've got 10 or 20,000 units you've accumulated. What percentage of your net worth do you leave to those kids? Oof. Something I think about daily. You and I are younger parents, right? Our kiddos are young still. So I think about it. I was just, so I have a philosophy, you only fly first class.

It happened again last night, flying home from Phoenix, flying first class. I happened to be sitting next to the coach of Ryan Serhant. Cool. And so next, you know, now like we're talking about Ryan coming to begin this event that we're, so that will be a big surprise. I don't want to be leaking it, but he has anyways, I say all this to say, um, one of the flights was a financial advisor. He was in his seventies.

He looks at me and we're having a great conversation. And, you know, we're just talking about life and money and blah, blah, blah. And he says, I'm going to give you the best advice I could ever give someone. Invest in current living. And as I just said that to you, I got shivers. Invest in current living. He was like, I can't tell you how many incredibly wealthy people I have managed their money, been there financial for, including myself. And at the end of their life, they could care less about all of it.

And all they wanted were the memories. All they wanted were the moments, the experiences. We have a mutual friend, Kent, like he just talks about collecting moments. And the older I'm getting, the more I'm like, fuck it. I don't, it's not about what's left behind. Like I don't want entitled children. I don't want the trust fund baby. Not saying they're bad, but more often than not, they become entitled and they don't know how to work. Like you know how to work and I know how to work.

And I'm leaning towards like, I'm going to let you work for it. And if there is a payday at the end of this thing, you're not going to see it until you're a lot older. And so that's where I'm leaning. I don't have a set number and whatever, and you're going to get it all. And I think it's more of a like, I'm going to teach you how to work. You're going to go get a job and you're going to go to college or not. I'll probably say do whatever you want to do. And yeah, you'll get it later on in life just because I just...

I want to invest in my life, right? And with them. I want them to be along that journey while they're young and into their teens and 20s. Like I want to take family vacations with my 25-year-olds and, you know, pay for them and do that kind of stuff. Like I'll pay for that while I'm alive and they're alive. You guys want to go stay at the Four Seasons and wherever the hell? Great. Daddy's got it. I'm all over this shit. But like leaving him that kind of money, I'm not the biggest proponent of it at this point. I just, it's really hit home. Invest in current living.

All right, so you've got your event coming up April 18th and 19th. Yeah. Do me a favor, look at this camera and explain why should people go to your event or why should they tell their friends to go to your event? The name of it, the concept of it, all of it. Creators Cashflow Conference right here in Miami, April 18th and 19th.

It's an event that your boy, Dan Fleischman, will be speaking at. This is for anyone and all people who are creators. Many of you guys are out there creating content already, whether it be Instagram, TikTok, podcast, or otherwise, but you're not creating a business out of that same content. So it's an expense to your bottom line and not a revenue-generating activity. Many of you are brilliant. Your mind and your heart are in the right place, and you have something to give the world today.

But in exchange for the value you're giving the world, you should be looking at it as a business and creating income from it. So all of you out there right now that want to see Dan Fleishen, myself, Dean Graciosi, Ty Lopez, Coach Stormy Wellington, and I think a couple of special guest other speakers that we just talked about.

We are going to be live in person here April 18th, 19th. And there is a virtual option as well that if you can't make it to Miami, you can actually get the virtual option. It's going to be in the move studio where we're recording this right now. I'm so fired up because as someone who's finally figured out how to monetize my brand, monetize my content,

I want to empower all of you. It doesn't matter if you're doing YouTube, TikTok, podcasting, create that value for others, but then create it for yourself by monetizing it and not just making an expense. Creators, cashflowconference.com.

Awesome. All right, guys, make sure to check out Justin Colby across all social media. Check out the event that's coming up this weekend. It's really exciting. The timing of it's perfect. This episode is designed right to come out for your episode for your events with Drew.

Uh, by the way, where can people find drew? Where can they find his entire social? Maybe they want to rent out a podcast studio when they're in Miami. I would tell anyone, if you're going to be in Miami, make sure you're doing your podcast here. The move Miami, go to the social media, go to Instagram, go find true at the move Miami. Uh,

He and I are putting this on together because he understands how to create a profitable business around what we're already doing, the lights, the camera, the action, the content. There's a revenue stream right here for you that he's going to teach you how to do it yourself. You have a studio. It may not be this big, but you can find four people who will probably pay you to use your studio that now make your studio free or revenue. So again, The Move Miami right here in Miami. If you're here, make sure you're renting.

I mean, Drew got so busy. He had multiple studios. Now he's getting the keys to a bigger studio. Like it's just, it's been amazing to watch what he's built. It's the best podcast studio in the country. All right, guys, check out the money mondays.com. Have discussions with your friends, family, and followers from your past, present, and future about money. We can't keep thinking that it's rude to talk about money. We have to have these discussions with your friends and family about bills, taxes, accounting, debt,

loan lease a car buy a car there's so many questions that we have talk about it it's important it will change our society if we can have open discussion about money appreciate you guys visit us at themoneymondays.com check out justin kobe across social media drew's the move and everybody in between and check out the cash flowing conference coming up this week

Ladies and gentlemen, welcome to the Money Mondays. I have a guest here that I've known for many, many years from live events, from the podcast space, from mutual friends, and everything in between. But as you guys know, on the Money Mondays, we cover three core topics. How to make money, how to invest money, how to give it away to charity. So what I want to do, as you guys know, is I'm going to have Adam do a quick two-minute bio. But first, what I want to talk to you guys about is...

It's super, super important and why this podcast exists is you have to have discussions with your friends, family, and followers about money. We grew up thinking it's rude to talk about money. I think that's ridiculous. You've

You got to talk about loans, finances, taxes, leases, understanding why groceries are so expensive. What's inflation? Like we have to be able to talk about money because it's real life. It's part of your daily life. It's paying bills, paying your car note, paying rent. What if your friend borrows 300 bucks? How do I ask for it back? These are things that go on in our real lives and no one talks about it. We just graduate 18 years old and they throw us out into the world. And even in college, they don't teach us about money. And so that's why I'm proud of this podcast because the amount of discussions that happen due to the people that are on this podcast. Like...

My friend Adam over here. So what I'm going to have him do is give a quick two minute bio. So we get straight to the money.

So, I love the fact that I'm being interviewed by you because when I first met you, it would have been 20, I want to say 2018-ish. At that event. Yeah, at the event here in Miami. And I was interviewing you about money. Second floor, one hotel. And I was just starting my show. First time I met Roger Rojas, by the way, same day. That's his brother right there, my friend Gio. The worlds are colliding. And I had the 20-year anniversary with Irie about a party we threw when I was in the nightlife world.

it's a very uh fortuitous uh meeting right here but yeah i'd started a money show in 2017 right around that time geo right there roger's brother was the producer and i was breaking into the money game but prior to that it's so funny how you evolve as a content creator as evolve as just a human you know living living your life but

I grew up here in Miami, and if you asked any of my friends if Adam would be talking about money, my Instagram is Sauce Talks Money. My show, you know, Sauce Money. Like, I'm on PBD. Like, we're talking business and money. They'd be like, that broke? Motherfucker. What? But I grew up here in Miami. I was...

Jack of all trades, nightlife kid. I was doing stand-up comedy. I tried to become a sports agent. I tried to become a real estate agent. I was doing sales. I was a substitute teacher. At 25, I was my brokest friend crashing on couches,

making no money whatsoever, but establishing great connections and understanding the value of relationships. So I'll never forget. And I grew up here in Miami. A lot of people are like, have you ever talked to people from Miami? They're like, so where are you from? It's like, I'm from Miami. It's like, where are you from? Miami. It's like, where are you from? Yeah. I moved here from Cleveland like four years ago. It's like, you're not from Miami, bro. Right. So I, I was, I grew up in Miami in the eighties and I was the black and like my family was the black sheep that moved out of Detroit, Minneapolis into Miami. But,

I always had great relationships. And then I said, one of my good friends, Mikey, if he ever sees this, he's like, what's up, Adam? I just made 70 grand. I was like, this is 2006? 2005, 2006. I'm like, oh, you made 70 grand this year? That's pretty cool. He goes, this year? I made 70 grand this paycheck. It was like my Wolf of Wall Street moment where I was like, you show me a paycheck of $70,000, I quit my job, I work for you. So that's literally what I did.

And it's so funny when I saw that scene in Wolf of Wall Street, I did that. So I moved out of Miami, got a job in Boca. I was a nightlife guy with my good friend Keith Menon. And I was working with Alan Roth and Tommy Pooch. I was doing all this in my mid-20s. Irie was throwing our DJing, the parties that we threw. It just...

20 years ago, literally. And I said, I got to go to Miami because I just was not focused. I was just making no money. It was sort of going nowhere. And I got a job as a cold caller at a startup financial firm and moved up to Boca, got focused. To all the young men out there, it's play the long game, you know, for your first job.

20 years of your life, don't screw it up. Don't go to jail. Don't get a DUI. Don't get arrested. Don't die. Your next 20 years, try to make some fricking money. And then there's a, you know, two more phases after that we'll talk about as far as, as far as philanthropy, but went up to Boca, worked at a company. I still 18 years later, run the firm, the sales at the firm. My first year I made $5,000, Dan Fleischman, $5,000.

The whole year. The whole year. But they told me, stick it out. You got this. Create relationships. Keep calling. You know, you'll make six figures. The most I've ever made in my life up to this point at age 26 was $20,000. I was not a money guy whatsoever. Boom. I stick it out. Um,

grind and the next year make a hundred grand oh my god it was the coolest thing i've ever had sure that you know people say like you know fast forward 10 years later i'm 35 i became a millionaire you know playing the long game they said how cool is it to become a millionaire i go let me one of the coolest thing i'll ever had in my life the coolest feeling i've ever had in my life i was 27 years old and i had 10 grand in the bank for the first time in my life

And I thought it was the coolest kid in the world. And I was dating a girl at the time. And I remember going to the ATM to pull out a couple hundred bucks. And I accidentally dropped the receipt. Yeah. And I was like, oh, babe, can you grab that? And it was like, you know, 13 grand in there. She's like, oh. I was like, fuck.

That's right, baby. Baller alert. So I stuck it out. I became an expert at this very specific thing in finance, wholesaling, insurance products. And every year my income grew and grew and grew and grew and I developed a reputation. That's why I met Patrick Bet-David at an insurance conference in 2012. We curated a relationship and then he kind of inspired me to start doing content. You were one of the first guys I ever literally interviewed, literally. Yeah.

at that event at the one. And then in 2020, after like probably six months of sort of negotiating with Pat, kind of figuring out what that would look like, I became the first talent that Valuetainment and Patrick by David signed. I moved to Dallas and we started the PBD podcast and the rest is history. But to this day, that 10 grand I had to my name was the coolest feeling I've ever freaking had. So everything else here is just icing on the cake.

So fun fact that Wolf of Wall Street line is one of my favorites ever. Yeah. I did podcast number one for the Wolf of Wall Street. With Jordan Belfort. Yes. Amazing. I kept pushing him to you got to start a podcast. And so I got to be episode number one. Okay. This episode is about you. Yeah. It's about us, Dan. It's about us. So on the make money side.

Talk to us about what do you think holds people back from making money? Is it mentally, emotionally, their environment? What do you think holds people back from actually going out there and finally making real money? So everything is about having about who knowing who you want to be and having a system. So, you know, if you go to college, the easiest thing you can do is understand the ROI of your major.

Pretty simple. All right. If you're going to become a career as an editor, what do editors make? Right. What do lawyers make? Just kind of understand what an engineer makes. What like what are you going to make in your field? If you're an entrepreneur, that's a totally different thing. You might make nothing. You might make millions. You don't know. So it's sort of rolling the dice. As far as making money, the best advice I can give is this. I told you the story. I went from being a broke jack of all trades entrepreneur.

to becoming a specialist at one thing. You know, should you be a generalist or should you be a specialist? So I can tell you conclusively being here in Miami, I meet so many people that do several things

And you don't know what's real and what's not real. You'll meet a guy. He's like, what's up, man? I just want to let you know, like, I'm a crypto guy, but also I'm a promoter at the club. And also this weekend, we're taking the yacht out. I'm a yacht captain. Also, I do a blackjack game at my house every single night. I'm DJing every Wednesday night at Baoli. If you want to come by Friday nights, I'm going to be over at 11. I'm at the door guy there. It's like crazy.

And he's like, by the way, if you're looking to buy a house, I'm the real estate guy. It's like, which one are you, bro? And that was me when I was 25 years old. Not so much all those, but I went from job to job to job to job. And I was not, I didn't have a reputation, which is a very important word, reputation for any one particular thing other than like Adam knew people and he was cool. And then eventually I became a specialist at one thing.

I've been doing that for 18 years and I'm very proud to say I'm in the finance world, the insurance world, uh, the wealth management, wealth planning, estate planning world. I know anything there is to know about that. And you know, the thing with that is that's what I do. It's not who I am, but, uh,

It's very important to be known for one thing and then branch out from there. Everybody I speak to, especially young people, are so obsessed with having multiple streams of income. I got to have a second stream of income. I got to have a side hustle. I got to have all these things. What about just one major stream of income? Your primary income. What about that?

Because anytime you're going to get a side hustle, a side job, more than likely, you're not great at that one thing. That's why it's a side gig. So you're going to trade your time for money and you're never going to get ahead because all you're doing is just working W2 or 1099 and working those hours. So what I would say is just, why don't you just focus 80 hours a week at one thing to make money and be known for that one thing? So,

That to me is the key to making money is be awesome at one thing. The only caveat is if you're awesome at that one thing, maybe you're a teacher. Teachers don't make a lot of money. Maybe you're an editor. Editors don't make a lot of money. So be very, very cautious and be very mindful of the career you're going into. And is money your top priority? Maybe health is your top priority. Maybe being, having time with the family is your top priority. But for a man, man,

I would say that money should be your top priority. So that's what I got. So on the investing side, you started to make some money, started to dive deep into insurance, started, okay, I made $100,000, then maybe it's 140, maybe it's 180. You start to go through life and like, wow, I got humongous. You finally get to a capital place where you're like, I can actually start investing in something. Yep.

How do you decide when there's real estate and restaurants or I can invest in the music business with my friend over here or my buddy's got a clothing line or I could buy crypto or I could day trade or I could do the stock market? There's so many different options. How can someone think about how they can figure out where do they want to invest into? Yeah, this is something that I had to figure out because I remember...

It would have been 2008. I'd already been in the finance world for a couple of years. I was starting to make money. And one of my, my mentor, who's now my partner said to me like, Hey, how much money did you lose in the stock market? After the great recession, I go, Oh,

No, no, no money. I don't, I don't have any money in the stock market. Zero. And he goes, well, now's a great time to buy. I said, what do you mean? He goes, everything's on sale. Everything's 50% off. I said, I don't know what that means. Couldn't spell a 401k, but I was smart enough to maybe say, all right, let me start this 401k thing. And then every year since then, I've maxed out my 401k. At the time I wasn't making, I was making under the income threshold. I started a Roth IRA, but it's building an investment foundation.

So everyone, you know, I'm not a real estate investor. In fact, these days, I highly advocate that most young people, young men do not become a real estate investor. That's not where you start. You can work your way up to it. But what's worked for me is so one of the things I say with money is have low overhead and high flexibility.

Things are moving so fast these days. AI, virtual reality, what's going on? UBI, right? You don't know what's happening right now. You might be living in Boston. Now you're moving to Austin. Now you're moving to Miami. Now you got a job in LA. If you're 24, 26, 28, dude, you don't know where you're going to be living next year. Why do you need to buy a house? Right. Straight up. For sure. You don't have a family. You don't have kids. What do you care about neighborhoods? What are you paying property taxes? Everyone has been fooled to think,

Well, renting is just throwing away money. Maybe if you're not saving and investing, then yeah. But if you have enough like gumption to be like, no, have a budget, understanding debt, understanding income, understanding savings, you can have a plan. Now, eventually when you get married and have kids, you want to pick out a neighborhood and start a family, go buy a fricking house. But that should not be step one. Step one should be save some money. I say 10 grand. Step two, start a retirement fund.

Right. Because you're 30 now, you're going to be 50, you're going to be 70. That's just a fact of life. No, but you know, life is short. I could die. Statistically, you're not going to freaking die at all. Statistically, you're going to live to age 98. God bless you. So start with that and then work your way up. And then you started getting to ETFs, you get into index funds, you get into mutual funds. And then you're like, you know what? Maybe I'm in real estate. I actually own real estate.

You're like, what do you might be saying? You want real estate? Yeah, it's called REITs, real estate investment trusts. Dude, you don't want me screwing in light bulbs. You don't want me fucking changing toilets. You don't want me painting walls. I want none of that, but I'll invest in commercial real estate. Cool, because I do believe in the asset class.

But over time, people don't understand. What do you think the historical rate of turn of real estate is versus the stock market? Stock market actually returns double what real estate returns. But people, because they don't understand the stock market, and I understand that it's very complicated, especially since the Wolf of Wall Street days, because you might have Jordan Belfort call you up, try to sell you a pink sheet, and you get ripped off and you lose 20 grand. And you're like, I can't take this anymore. Shout out to you, Jordan Belfort. Show me 70 grand. I'll quit my job and work for you. So...

People want tangible. People want real estate, right? But for me, it's the stock market. And then from there, you get comfortable with taking risk. Everything investing, Dan, you know this, whether it's starting a business, whether it's investing in the stock market, whether it's crypto, it's risk versus reward. So what's risk? The lower the risk, the lower the reward. The higher the risk, the higher the reward. You want to buy Dogecoin, and if it pops, you might have a big reward, but you're also risking.

Right. But if you want to put it into CDs or bonds and cash is very low risk is very low reward. So everything's correlated with that. So it's understanding that ultimately the number one thing you could do with money is try to make a little bit more and save a little bit more and invest a little bit more every single year. The compound interest effect. What's the Warren Buffett rule? Rule number one, don't lose money.

Rule number two, don't forget rule number one, guy. For sure. So there's so many people I know that, you know, you ever had a car that just didn't work? It would stop. It would start. You would have to take it in the shop and you go again. And then, you know, you get a car wash. It looks good. And then stop. Like, that's the last thing you want with your money. You make a hundred grand. You quit. You start a job. It doesn't work. And then you got to get a new job after that. And all you're changing careers. So if you can just slow and steady win the race, right?

And build wealth over time. You've seen the, speaking of Warren Buffett, you've seen like the picture with him and Bill Gates. And it's like, no, but they're just where they're, they're wearing like just normal clothes. And it's like, these guys are worth hundreds of billions of dollars, no Gucci belt. So some people out there are so obsessed with looking rich rather than being wealthy. So I made the determination when I started to make money, I'd rather just fucking be wealthy.

then look rich. And you know, if you can be comfortable in your own skin and not have to like keep up with the Joneses, man, what a feeling right there. So anytime that I started making money, there's, I had days where, you know, the 70,000, there's been opportunity, big opportunities don't come up all the time. Now there's people I hang out with that are billionaires and like, but I'm, I'm not a billionaire. Yeah. I'm worth a couple of Ms, whatever it is.

But big paychecks don't come all the time. A couple of times I got a paycheck for a quarter million dollars in a month. That's a pretty good. It's amazing. And I didn't pop bottles at the club. I didn't go out. I maxed out my 401k. I bought some assets. You know, maybe I went to a nice dinner with my girl, whatever it was. But I realized, dude, there's going to be rainy days. So now I find myself what I call chilling and chilling is when you own your time.

So I developed something when I was doing everything with you and interviewing people on money. I said, I was studying all these people because I worked in finance. And all I was doing was man-on-the-street interviews. Gio remembers. I was doing man-on-the-street interviews. I was interviewing anyone I possibly could ask about money. Financial advisors, rappers, ballers, college kids, homeless guys, whatever. Tell me something about money. Tell me something.

And basically I kind of like AI'd it before AI. And I said, everything comes down to these six principles of wealth. And I developed what I call the six principles of wealth. And principle number six is what I call chilling. And chilling is when you own your time. It used to be called retirement, but you can be retired before 65. I found myself chilling at 35. So step one is having a game plan for your money, AKA a budget. Step two is not making sure that you're not losing money.

The money game or losing the interest rate game debt step three my slogan save that money step four grow your money over time Principle number five is protect your wealth And if you can do all that year in and year out year in and year out you'll end up becoming chilling. I found myself Chilling at age 35. I said look at me 25. I was broke as a joke 35 Millionaire, okay, and i'm like wow

And I don't have to go into the office every day at a nice little exit from the company. And then I came back. I'm working remote. I can go anywhere I want to go. I have all this deal flow coming in. No debt, tons of cash saved up. I'm already invested. I'm maxed out all my stuff. My assets are protected. What do I want to do with my free time? That's the number one question you should ask yourself to figure out where you're going is if you had 10 million bucks in the bank, you, what would you do with all your free time?

Once you identify what that answer is, you can kind of like back into what you want to do when you make all the money. And Dan, everyone says the exact same three things. So anyone asks this exact same three things. If you had 10 million bucks in the bank, what would you do with all your free time if you were chilling? What do you think the three things are? What do you think? Play golf. Okay. Watch TV. Okay. Hang out with your family.

Not bad. Everyone says the exact same three things. Number one, they want to travel. Everyone I talk to wants to travel. I want to see the world. I want to go. I said, that's great. After you're done traveling, what are you going to do? Because if anytime you've been on vacation, what's the thing you start thinking like a weekend? I just want to fucking go home. You know, like I'm done with this vacation. It's great. But whether it's a week, whether it's a month, that's number one. Number two.

You said golf, right? Golf, whether it's golf, whether it's painting, whether it's photography, whether it's stand-up comedy, it's something you're passionate about. You would do for free. For me, it was, I was a stand-up comedian. I wanted to do something sort of like what we're doing right now. Like you enjoy this. Like you're not doing this to make money. I already know that. That's free. There's no ads. Exactly. You enjoy this. You want to help people. And then the third thing is literally you want to give back and help people. So I found myself, I said...

I'm chilling. What do I want to do with my free time? I've done all the traveling. I did the St. Bart's thing. I've done the Ibiza thing. I've done the Mykonos thing. I've done, I just want to stay in Miami. Cool. That's number one. Number two, what am I passionate about? Passionate about just hanging with my boys, shooting the shit, talking. I like it.

All right, cool. And number three is give back. And exactly what you're doing now. I started just basically teaching people about money and the pitfalls and the mistakes that I saw in the nightlife world in Miami. Someone gets a $10,000 check. They spend it at Club Live. No offense, Dave Grotman. And then they're broke the next day. Why? Play the long game, buddy. So...

Now I find myself chilling. And because I was chilling and I could have done whatever I wanted to do, when the opportunity to move to Dallas to team up with PBD came up, I was like, all right, cool. I'll see you next week. He's like, what do you mean? You don't got to... I was like, no, I'm good. I'll see you. So for me, it's getting to the point where you can own your time. And when you can own your time, you have options and you have leverage. You can do what you want. So...

Um, that to me is, uh, what I call investing. You invest in yourself, you invest in assets, and you get to a point where you can just do what you want with your free time. You're chilling. Why do you think that people should incorporate charity either into their business or into their households? So whether it's a religious component, whether it's a social component, whether it's you're an empathetic person, helping others just feels good.

You know, Americans do that more than anybody, I want to say. I'm sure you know the stats on this. I think Americans contribute to more philanthropic endeavors than maybe any country in the world. You know, we talk about here in America how we're like, we're fat, we're lazy, we only care about ourselves, we're entitled. It's like, yeah, but we'll give money to people. So in Christianity, it's called tithing. In Judaism, it's called tzedakah.

And you give to the unfortunate. And, you know, the famous phrase, it's better to give than receive. There's a lot of truth to that. What you're doing right now, you're giving back and teaching what I'm doing, giving back, helping, whatever. There's a genuine fulfillment by helping others. Yeah, once you have all your needs met, life's good, you're giving back, you can give back. People want to help.

People say, how do I get a mentor? It's like, just ask. People want to help. We actually developed an entire app called Manect for people who want to give advice. Now you're going to pay for the advice, but they set their rates at what they want to do. But just like when I said chilling, anyone I asked, they said the exact same three things. They want to travel. They want to do something they're passionate about. And they want to do something. So for me, I would always volunteer at the Special Olympics growing up. Every year, my dad would take me.

And all of a sudden that rubbed off on me and all my friends are running the special Olympics. You know that G and some people want to go donate to the, to the homeless. Some people want to go help, you know, abused animals, whatever it is, you have a heart, you have a, you know, mind, body, soul. Everyone wants to give back. You know, Dan, when I first met Dan, I'll tell you the story of how I first met Dan. And I was like, who is this guy? Um, I interviewed you that one time. I didn't know much about you. And then that same weekend, um,

you hosted a lunch at Swan, okay? I was like a last minute invite. Like, oh yeah, yeah, yeah, if you want to come, because I ran into where I was living at the Marquis. Yeah, come to the thing. And my friend, Olivia, almost, it was like, yeah, come, you'll come with me. And I remember getting there a little bit late. The food just got there. You said, hey guys, thanks for everyone coming here. Really appreciate it for coming out. Have a great meal. I'm out. And you left. And I remember saying,

The guy just paid for the meal like and just left. And they're like, yeah, that's just that's just Dan, bro. That's what he does. I said, what do you mean? That's what he does. Doesn't even take a bite of the pasta. You're like, well, maybe he took it to go back or something like that. But I was like, what a freaking guy. I think about that because you've done that multiple times. And some of us are lucky enough to stick around and actually have a meal with you. And it's great.

But the reputation that Dan has of giving back, I can't tell you what that does for someone like you when you're not around. You know, they're saying things in front of someone's face, but then complimenting behind their back, they'll never know, but that word travels. You know, so you're hearing this on the podcast now. People, when I sing Dan Fleischman's name, they're like, oh, dude, love Dan. He's the best. What he does. You were telling me how, like,

homeless stuff, LA, backpacks, all these things you were doing the first time. What was that? Model Citizen Fund. Yeah, what a model citizen you are. So can I tell you my three R's of life? Okay. And I feel like you embody this. I said, here are the three R's of life, the three R's of success. This is how I built who I am, and I know it's how you built you are. Anyone who's successful has these three R's. I guarantee it. If they're the type of person we're talking about. Number one is relationships. You understand that relationships...

Or partnerships. Is the foundation of anything. No matter what business you're in. You're in the people business. People like doing business with people they like. At some point you might have a better product than somebody. Or a better price. If they just like the other person better. They're going to choose the other person.

relationships are everything. No matter what you do, if you strip away everything else, the cars, the clothes, the fun, the mansions, you'd rather just sit in a random restaurant with your best friends than at a mansion with people you don't like. It's relationships are the foundation of everything. So that's so important. And fostering those relationships. There's people in Miami I've known for literally 40 years.

I ran into a guy in the club last night. I haven't seen him in six years. I went to kindergarten with him. He had bottles, clubs. Adam, what's up? Relationships. It's so important. That's the first R. R number two, reputation.

So we all have a reputation, good or bad. You know, it'll take you 30 years to build your reputation and overnight your reputation's gone. You know, there's a famous joke like, you know, there was a guy who was a famous bridge builder. He built thousands of bridges and then one time he fucked a goat. He was no longer a bridge builder, he was a goat fucker. So we've seen what happens, whether it's Bill Cosby, whether it's Harvey Weinstein, whether it's Jeffrey Epstein, whoever it is, Diddy now, whatever it is, you think they're getting their reputation back.

It's not going to happen. So your reputation to develop over time. And what happens is when you have a good reputation, people are going to start talking about you behind your back in a good way. Like I said, Dan Fleischman, who is this guy? Oh, bro, Dan's the best. He comes out to all these things. What a guy. I'm like, oh, this guy's amazing. And then words going to travel. And that's who you are. And then the third R, which apropos is revenue. You got to make some money, dude.

You can be the nicest guy in the world. You can have all the friends in the world. You can have the greatest reputation if you're broke. You can't even help yourself. You can't help the people around you. So revenue and money and profit is very important. Show me someone poor that's changed the world. Jesus, Gandhi maybe. But I know tons of rich people that changed the world and changed their family tree and changed their family legacy. It's super important.

Your baby, your girl. What's her name? Ariana Ocean. Ariana Ocean. Ariana Ocean doesn't even realize how lucky she is because of the reputation and the relationships and the revenue that daddy's done. So here she is. She's one. How old is she? Eight months. Eight months. Sorry to fast forward. She has no idea she's going to grow up and she's going to have access to anything she wants because of the three R's that daddy's done. And what a lucky girl she is.

And she never has to worry, knock on wood, that daddy ripped something off or did something. Like, daddy did it the right way. You're so lucky, Ariana. One day you'll see this and you'll be like, oh, thanks, Uncle Adam. But it's incredible. And now it's so funny. You know, when I started the show, it's so funny that Gio's here. You know, one of the first times, like...

Good things take time for anybody for a reputation. I remember one of the first times I tried to film the show, I kind of like got like access somehow into Grant Cardone's 10 X event. Right. And I knew some people we got in, whatever. And then we snuck our way kind of into like the the VIP VIP. We didn't have like credentials and security's like, hey, who are you? Who are you with? I was like, oh, I don't know, whatever. And they're like, what? They threw us out of there.

Right? Do you remember this? And Gio goes, we got too close to the buffet, bro. Don't stay away from the free food. But it was just, it was a learning lesson. It was like, okay, good things are going to take time. It was one little thing. It wasn't that big of a deal. But imagine if you rip someone off, if you screw someone over, if you do business the wrong way. In the internet age, the social media age where we are now, you're finished. Finished. So, um,

The reputation, the relationships, and the revenue, that to me is the cornerstone of any successful man at this point. All right, guys. As you know, the main concept here is for you to have these discussions with your friends, family, and followers. I want you to check out Adam across social media. What is the main way they can find you? I would say you can check me out on Valuetainment. We're across every platform. I think across all platforms, between all our shows, all our pages, we're everywhere.

30 million across all pages. If you put Valuetainment or PBD Podcast, it'll pop up. Where do they find Manect? Or you can find Manect. You can download it at the...

on Apple or Android. And that's something I'm very proud of. That's something that I've helped create with Patrick. And it's where you can get advice from experts in any field at the tip of your fingertips. You know, if you've been in the social media world, you've been in, I assume, email marketing as well. I think you were staying at the guy's house that was at expertemailmarketing.com.

The stats are ridiculous. 2% of emails are returned or whatever it is are opened or DMs are open, whatever it is. 99% of people respond on Manek. So we're proud of that. And we're building something very special at Valuetainment. And I'm very happy to be a running mate with Patrick, but David, can I give one last thing? I know we're wrapping up. Everyone out there wants to be the man.

I want to be the man. I want to be the man. I want to be the man. It's very hard to be the man. For sure. It's very hard to be a billionaire. It's very hard to be that dude. What about being the guy next to the dude? What about that? Where I found success is not being the number one guy. Anything I've ever done that's turned out to be great, I've always been the number two guy.

Whether it's with Patrick, but David, whether it's a nightlife here with Keith Menon, whether it was literally being the groomsman with Kim, with Chris Humphries when he married Kim Kardashian, even though I was playing basketball, whenever I was the best player, we would lose. Whenever I was the second best player on our high school team, we would go into States. So it's, it's very important to recognize what role you are in a company, because if you think you're the man, but you should be the number four guy or the number two guy, the number eight guy, you're

You're going to have a learning lesson. So I'm very happy to be very comfortable that the number two guy. So I'll be Dan's number two any day of the week. Appreciate it. So check out Adam, Valuetainment, Manect all across social media. Have discussion with your friends, family and followers about money. It's super, super, super, super critical. Check us out on themoneymondays.com and we'll see you guys next Monday. And save that money.