The Bulletproof Scaling Method In Real Estate (And How to Evaluate Repairs!) With Andresa Guidell

Transcript:

On this episode of the Personal Finance Podcast, we're gonna talk about investing in real estate with undress side G Deli.

What's up everybody, and welcome to the Personal Finance Podcast. I'm your host Andrew, founder of Master money.co. And today on the Personal Finance podcast, we're gonna be talking about real estate. With and Dresa G de. If you guys have any questions, make sure you hit us up on Instagram or TikTok at mastermind co and follow us on Spotify Apple Podcast or whatever podcast player you love listening to this podcast tune.

If you wanna help with the show, leave a five star rating and review on Apple Podcast or Spotify. So today we are gonna be talking to and Ressa about how you can actually build wealth in real estate and she is one of the co-founders of the invest her. Network where they help women learn how to invest in real estate and how to build generational wealth with real estate as well.

And today we're gonna be talking about the bulletproof scaling method. In addition, one of the core things that she is amazing at is learning how to manage contractors and how to manage rehab. She has done a ton of different rehabs within properties, so we're gonna kind of deep dive. Into some of that stuff so that you can learn how can I manage contractors and how can I make sure that my rehabs go smoothly?

In addition, we're gonna talk about some different ways that she likes to build wealth and how she thinks about generational wealth as well. So I'm really excited for you guys to check out this episodes. Without further ado, let's welcome and dress up to the Personal Finance podcast Ansa. Welcome to the Personal Finance Podcast.

Thank you so much. It's a pleasure being here. So we are really excited to have you here because you are a real estate master and you've been doing this for a long time, and you have a really, really wealth of insight when it comes to investing in real estate. So I'm excited to dive into some of the stuff that we're gonna be talking about today, and I think there's a lot of cool things that you've talked about in the past that I think are really, really helpful for a lot of our listeners as well.

So tell us a little bit about yourself and your real estate investing. Sure. Absolutely. All I can guarantee your listeners is that I'm gonna share the good, the bad, and the ugly. That's perfect. That's exactly what we want, right? Because I don't believe there's a journey that there's like, oh, oh, you never made a mistake or anything like that.

So that's what you guys can expect. From my interview today, I was born and raised in Brazil and moved to the US to get my master's degree. Started investing in 2011 and my main focus was in rehabbing projects. And then from there moved, not moved, but migrated I would say, to new construction and building a rental portfolio that includes also short-term rental at that time, that short-term rental.

Oh, you're weird though. You have people coming and go away. Right? At that time there was no regulation and it was something very, very, very new. And nowadays, we invest out, out of state and uh, we're looking actually now in luxury, uh, short term rental, we can dive in if you guys want to, and larger apartment complexes.

So that's the niche. And meanwhile, my business partner and I build the real estate investor community, that it's a community to. Women, uh, in real estate to get the support that they need to live life on their own terms. And I think that's absolutely incredible how you support women throughout this journey, cuz I think a lot of times when it comes to real estate, it's just so helpful to have that community in place and have people, uh, to surround you so that you can actually go through the process and have these mentors in place as well.

I think it's so cool how you guys have that set up and Thank you. One of the hardest things to do in real estate is learning how to scale. I remember when I bought. A couple of my first properties, I realized very quickly that scaling is very, very important when it comes to real estate. So what are some of the things that we can go through here is, you know, learning how to grow some of those properties and multiple properties and stuff as well.

Yes. But you have a system called the Bulletproof Scaling Method. Can you explain what that is and how it works? Yeah, absolutely. And for many people, when you hear the word scaling, people are like hundreds of hundreds of houses. It might not be your case, right? Scaling might be from one to five houses. So how can you do that?

Without losing your hair and also living a life that you want to live. So what I wanna make sure people understand is that when you have that conversation with yourself, usually investors are having that conversation with themselves. They're like, there's no way. I can do five times or 10 times what I'm doing now.

And you're right, you can't duplicate chaos. So the number one thing is that's not the proposal to duplicate chaos in different niches all at the same time. Right? So the goal is to really master. What you have going on, if it is a flip master, that entire process before you start duplicating. And then when you start adding teams.

For example, I went from giving step by step standard operating procedures to my team members where the more that I gave help, the more they asked for help. And then it was like that co. That didn't allow me to scale, so I went from hiring note takers to hire thinkers, people that really know more than what I do, and they pull me, they inspire me, they do the SOPs.

Now they take it to the next level. I know my core genius, which is in systems and processes, I love that, but not necessarily I need to be working on. From a day-to-day operations, I can work on that from a strategic operations. But for all of you that are listening is like I hate systems and process can even think about automation and all of that, this is great news cuz then you need to find somebody.

To do that for you, and that is part of the scaling process. I believe many people struggle trying to be all things that they're not good at, and then they don't understand why they're stuck or unmotivated. That's why, because it really sucks the energy out of you when you are doing something that you really don't want to or it's sitting down right now, all of you, you can look at your procrastination.

Which are those tasks that are sitting on your desk for the past six months. You know, they need to be done, but you're not doing them. So in order to scale, you gotta look at what do I have in place in terms of process teams? Who do I need not How? Don't worry about the how. Focus on the who do I need here, what am I good at and what I'm not so good at.

I'm gonna hire somebody to do this because that's how you're going to scale. If you're trying to scale by yourself with the current chaos and trying to be a master across the board. That's a recipe for getting stuck. Absolutely. I could not agree more. And I think a lot of times, a lot of early real estate investors, sometimes they try to do everything even.

If you know the property needs to be renovated, they try to do the renovations and they try to go in there and do that part of it. They try to go find the properties, they try to do every little piece of real estate, but really, if you wanna scale in real estate, you gotta have to hand it off to some other people, just like you're talking about here and have those standard operating procedures in place.

If nobody's ever heard of standard operating procedures before, there are two books I can recommend on that. One is Traction and the other one is called The EMyth, and they kind of walk you through how you can set some of these up and some of the systems that you can put in place as well, cuz they are so incredibly important anytime you build a business.

When it comes to real estate because you have to have these in place because once people come into your business, they have to know exactly what they need to do next and how, for example, to order materials or how they can do any of those other procedures as well. So I absolutely love that thought process and that system.

So if you were starting from zero and you wanted to scale maybe to 20 units, because a lot of people who listen to this podcast are interested in things like financial independence. So they want enough units to be able to cover their living expenses every single month, and that is one cool way to do that is through real estate.

So say for example, you wanted to get from zero to 20. Uh, what systems would you put in place, day one to try to get to that goal and achieve that goal? I would actually get very clear on the goals, right? What is the lifestyle that you want to be living five years from now? Right? Do you really need five units, 20 units, a hundred units to live the lifestyle, and then you start working backwards, right?

I wouldn't recommend somebody to put. CR r m in place or different tools to project management if you don't have projects to manage? Right, exactly. And I'll, I'll give you a very clear example. I started doing one property and then I scaled to two properties and then I started getting very overwhelmed and I had no way I can handle a third property.

But then a good deal came through and I couldn't say no to it, and then a fourth deal came through and I couldn't say no to it, so I was forced. To really create processing systems in place. I went from, I'll give you a very quick example that I should have done earlier. I went from ordering all the finishes at Home Depot or Lowe's going there or peeking them in person and put a, try to carry a Imagine, I'm fight for it, trying to carry a toilet to my contractor that was waiting.

It's a waste of time, right? A hundred percent right? All the time. And then I was like, people really like the finishes and the properties are in different locations, so why I just don't duplicate this. So what I created was a finishes list right on my Home Depot business account. And then I just reorder everything.

Automatically, my GC went there to pick it up and that was it. And I just duplicated everything and then I went from not ordering anything, say, now you guys order it because it's the same thing over and over again. The level of the finishes that the properties that I was working with. It didn't require customization, right?

I wouldn't use the same thing in a million dollar house, of course not. But I created a process, okay? Option one, option two, option three. You use that. So for those of you that are starting out, think about what is taking a lot of your time. Think about time. Time is your biggest asset, right? So if it is like picking finishes, if it is time management with your contractor, right?

How many times are you going during the week and what can you do there in order to be always two weeks ahead? What type of planning you need to do it, what type of planning you need to do prior of hire a contractor in terms of scheduling, payment plan, what expectations are and everything else. So those are like the foundation, right?

Creating the ex. Expectations regarding your time and everything needs to be in the cloud. A hundred percent. It doesn't matter if it is one property, two a hundred, everything needs to be in the cloud organized because you can be at a job site and be able to open up your architect drawings in a heartbeat or your payment plan in a heartbeat to really check what it is.

You can't rely on your brain when you are scaling it because then you don't. I was doing 15 projects at the same time. I don't know where we at. I gotta rely on my processing systems. Without that, if you don't have that in place when you're scaling it, the money and the time is going down the drain somewhere, and that is the biggest problem.

I usually see it's very true because from day one, if you start to put those into place, the more that you grow, it's already gonna be in place for you. You can save that time. You can actually grow so much faster that way because you really do waste a ton of time. Like you said, running to Home Depot, looking for the right product, and you go through the thing and all of a sudden half of your day is gone just by doing that piece of it.

So, um, that is definitely something that you wanna start very early on, especially if you wanna scale, uh, very early. So I love that. One big question that we get a lot right now is people are looking to find properties and they're having a hard time to find properties, especially in a time where it's pretty competitive right now, so.

Mm-hmm. What is one of your favorite ways to increase deal flow? Um, especially during times like this, where it's pretty competitive. Absolutely. Um, it's all legit. Right? Right now we are in a, I would say a patient game. Yep. Right? And people. Handle pressure well will do. Well. Those that freak out because they didn't buy a property the past three months and just they n quote unquote need to buy it to keep the status quo or to show off or whatever that might be, will make harsh decisions over there.

So for those of you that are listening, my favorite, uh, hands down. Technique to find good deals is driving for dollars, walking for dollars. It doesn't cut a dime if you walk. It doesn't cost a dime and save you at the gym, right? So walking for dollars in really like mapping out the territory that you are looking at and observing.

Observation. I have found the best home runs. Driving for dollars. Driving for dollars is just like my number one strategy. I don't do it often, however, it is the most quality because I can see it. I can see the worst property in the block. The neighbors don't like that. It's empty. I can tell cuz of the grass or the snow.

So there's a lot of cues that you need to observe when you're driving for dollars. Talk to people around what's going on. They know who's gonna move, who has passed away, what is the story about it, and a very, it will be a smaller list, but a more qualified list. I like that better. I love that too. And if anybody, we've talked about this in the past, but if anybody doesn't know what driving for dollars is, it's where you go through a neighborhood and you look for properties that may be run down.

Maybe their grass is really long, the paint is chipping off the house and you can just tell somebody's either not taking care of it or somebody doesn't live in that property. And once you find those properties, you write 'em down in your phone or something like that, and then you can go back and try to contact the sellers, look for the seller's information.

A lot of people, Via male. I'm not sure how you do it, but that's how most people do it. Um, and then you can find a lot of really great properties this way and you can find them off market this way too. And that's what we're really looking for is finding these off market properties, cuz you can get some great deals that way as well.

So that is a fantastic way to look for properties and it's a great way to beat out the competitors cuz a lot of people aren't willing to do the work. And I think that is one of the cool things that you can do when it comes to this as well. One big thing that I wanna shift to is how to manage some of these rehabs, because you have a lot of experience in managing rehabs, and I think managing contractors is a big, big thing for a lot of people.

And so for each project, you gotta find a contractor that's actually gonna fit that scope and figure out exactly how to do that as well. But first I wanna talk about kind of how to evaluate these repairs. So the way you make all your money in real estate is obviously when you buy the property, it's upfront in making sure that you actually.

The property correctly. So what tools do you use to run your numbers when you run the numbers on a property? Well, I think that there's different ways, right? If you're going through a house that is a shell, which was super scary at the beginning, right? You're like, oh my gosh, just had three walls, barely has three walls.

But that's a good thing cuz everything is open, right? When not everything is open and you're not looking to open all the walls, that's. Question marks starting going up, right? So my first walkthrough, I have a spreadsheet where I go from the top to bottom or bottom to top, whatever you prefer. But I'm observing all the four corners.

I don't care about the pain and the details. I'm caring about the mechanicals. The roof, the big items, right? The roof, the mechanicals, electric, H V C, plumbing, all of that, those big items that I'm looking for. The other item that I'm looking for, it's can I build up or can I build back? Can I add square footage to the property?

Is there a way that I can do this here? And the layout, there are some layout. That are deal breakers for the style that I'm looking for, position upstairs, for example, that cuts the property in half. That doesn't give a good flow. So I'm looking for deal breakers where I'm evaluating everything. Since I've done a lot before, I already ha I get out with my number in my head, however, For the folks that are starting out, I highly recommend to walkthrough with a GC and you start building that relationship with a person there.

That's not the first time you are gonna be beating the person. I just wanna make sure that that's clear. The vetting process, I'll share a little bit later, but if you don't feel confident about it, Have a gc. There are properties that I need to have my GC because I, there is a crack on the foundation, let's say, or there's something that I like.

Never seen this before at all. What the hell is this system over here? My question is how much is gonna cost to replace it or to repair it or to even take it out of the house? Can I keep it here? What's going on here? So I rely on my experience, but also on the experience of others. And that has been the mantra the whole time, especially at the beginning.

I don't know what I don't know. My eyes are not trained to see anything. So walk through with a general contractor that you previously vetted. That makes complete sense. And has there any been anything that you've really looked for when you walk through these properties? Is there something that, um, you can utilize to like kind of minimize the mistakes?

I know you have the GC kind of walk through there, but are there very specific things and costs that you look for to make sure that you minimize those mistakes? Cause I think a lot of people when they first start out, a lot of folks that I've talked to when they're starting out, they mess up the rehab costs.

So either there's two things you can do here, you can. Look for these very specific things, or you can obviously add a cushion when you run your numbers as well. Do you do like a combination of both of those things? Yes. Yes, absolutely. So if there are already a kitchen in place and the bathrooms in place, I don't care about the finishes, but I do care the location of the plumbing.

Right. Cuz I don't wanna move that. But if there's something here, it's like, oh my gosh. Why did he do this or that's not gonna work? How? How to run plumbing. The opposite side of the property. That is dollar signs. So what I'm looking at is don't worry about the cabinet, but worry about the position of the plumbing.

Are you going to have to move that or not? The desirable option is like, don't have to. Any of the plumbing don't have to rewire the entire place, HCS in place or any cooling heating systems. The Redding place, the rest. I don't worry about any of that, but moving those big items. That is high cost for me.

Not that it's a big deal, right? It's if I have to, I need to take that in consideration, of course. And then we can go from there. Do I lift the carpet to see if there's wood underneath? A hundred percent. I'm looking for that, cuz that's gonna save beyond installing new hardwood floor instead of just refinishing what there is over there.

So I'm looking. Two ways that I don't need to replace the whole thing in case it's not a shell. Exactly. And I think that is one. I've moved plumbing and stuff left for like that as well. It's really not a big deal once you do it one time. I think a lot of people get scared of some of that stuff. Yeah. But once you do it one time and have, you know, you're not doing it but somebody else is doing it.

Um, for you, it's not a huge deal, but it's a very expensive deal. So that's the other side of it too, is you just gotta make sure, like you said, you're looking for these things so that you actually make sure that you have those. Upfront when you're running the numbers on these profits. So, and depending on where you are, you gotta get permits to it.

Right? Right. So it's not just the physical fact that somebody needs to go there and move it. You gotta go through employment to the city in many cases, get the approval and they get inspection. So all of that. Time and time equals money. So don't think, don't look at that as only the cost of the plumbing, right?

Because there's much more around it that counts. And that's a great tip as well because that time can cost you a lot of money. So one of the best things to do is if you're new to this, you can also, you know, talk to some of the permitting offices and see how long this process takes and add time on top of that.

Cuz usually they take longer than what they say. Yeah, right. It's kinda having that in play to make sure. Um, you understand how much time this is actually gonna take. So the best thing to do is a lot of times I'll call them and just kind of talk with them and they usually give you some decent information as well.

So I wanna also shift to kind of how to manage some of these rehabs, because for each project, you obviously have to find a contractor that's gonna work with that project. You know, obviously with your apartment buildings, you maybe have a specific contractor and then you have maybe have another one of you just buy a single family house that you rent out.

Mm-hmm. Um, so when you go through this process and maybe you find a property, how do you interview contractors and make sure you find the right one? I think the find is like, Matchmaking, right? You gotta find the, the contractor that match the scope of work. You don't want a, a sophisticated contractor that does new construction to do your turnaround on your rentals and, and vice versa.

So what I usually do is that I meet them at their current job. Something that I am looking to do. So if it is new construction, I would like to meet them at their job site, new construction job site. And I usually do not meet at lunchtime cuz I wanna see the workers. You are gonna think about all the questions you, I ask and I'll share a couple of them over here.

But all the questions that I'm not gonna ask. But I am observing it. I'm observing if the contractor is arriving on time to meet me. How are the crew over here behaving or is there music? I like music. I like a good vibe, and I'm observing how clean is this space, because that's gonna be a picture of my job.

Exactly right. And if I'm walking with a private money lender in the future, that's what the person is going to be seeing it. Is that a good thing or not? But while I am there, I'm asking about that specific project. So how many people you have working over here, what is your schedule? Look. Like how many other projects like this you have on your pipeline?

How many projects can you manage at the same time? That is super important because they might be available now, but my project's going to be available to get started two months from now. So, How is the GC schedule then is different. So all of those questions are super important and I think that this pre-qualification or vatting process will determine how smooth is going to be the project management.

And if you skip that, you bet you're gonna have to spend a lot of time managing that contractor. But if you spend time on the vetting process, In getting the paperwork regarding contract, a very detailed contract, detail, scope of work, payment plan, scheduling, waivers, all of that in place prior it, you are setting yourself up for success managing the contractor because you guys both on the same, the same page regarding expectations.

Absolutely. I think those are some great tips as well, because I've gone through some of that process where you know, you just, sometimes you just find the wrong person for the job, and then I do that very early on. I remember doing that, and it just takes so much more of your time and your energy to actually manage that person instead of just finding the right person and doing the vetting process up.

Front, and a lot of people are probably noticing a theme here. A lot of real estate is, you know, doing the right things up front so that you can have success later on so that you can save time, save energy, save money, all those different things. So how do you actually, d, when you develop these standard operating procedures that we've been talking about, uh, very early on, how do you actually kind of, you know, make sure that they implement those in rehabs as well?

Mm-hmm. Well, I wish I could say to. So easy, right? I created that and they implemented it, and then we d end, like that's the, the end of the story. It was not like that. I started creating it because a lot of miscommunication. A lot of miscommunication. I was robbed many times. Right. I pay for upfront and they run with my money.

And I was like, what happened? We shook hands, right? And then you, my lawyer was like, well, but that was not on your contract over here that you were supposed to pay. So we can't, we can't fight back to get that because you just gave it in good faith. Right? So a lot of assumptions. I assumed that when I say, uh, let's say hardware for the doors, they're not thinking the rounded gold one.

Right? Wrong, wrong. So all wrong, like hardwares for the kitchen cabinets. I had a conversation with one of them that says to me, I didn't know you wanted, um, hard. To open your kitchen cabinets. I was like, how am I supposed to open them? Right? Unless it's a what? So don't make any type of assumption. And I learned that I had to create those SOPs because I made a ton of mistakes.

You know? I was like, this is ridiculous. Taking a lot of my time, having to explain all over again and again, and. So little by little, I starting building, as I mentioned, the finishes list, like a clear scope of work that I still use it. So I created a master's scope of work as if the property is a shell, right?

And separated in buckets. And then for every property, I use that and I take out everything that doesn't apply, and I improve every time because I was like, oh, that was not clear. Yeah, I was not clear with the gc, the type of grout that I want him or her to use in the bathroom, or what are my standards there.

And during my walkthrough, I am observing it. I am observing the most important thing, of course, safety and following the code, but the perceived value. You don't have to buy expensive tile. You need to get that tile, that the perceived value is there. That's timeless, that people can see themselves there, and I.

My open houses as if I am a buyer and I hang out with the people that are looking to buy and I make comments, oh, I like this paint. What do you think? It's like, oh, I like it. It's so tranquil and calm cuz I wanna know their feedback right there cuz that is telling me, okay, good to go with the paint, which has been using since 2011.

Never change. It is the same, will be the same. I don't want people to worry about like, oh my gosh, if I don't have all of this, not gonna be successful. One step at a time and start building your scope of work and improve as you go. Improve as you go little by little, you improve as you go. Everything that takes your time or irritates you, that's a sign that you should be putting a standard operating procedure for.

And I love that and I love that you talk about, you know, you use the same materials in all your rentals because one of the cool things about that is, is there's a bunch of different reasons why you could do this. And I've heard you kind of talk about this too, where like you could think about something like McDonald's for example.

They've used the same materials forever inside of their business, and that's kind of how you run that. Is is the same thing goes for real estate, and there's a number of reasons why you can do this, but one of which is, you know, if you're utilizing the same materials, everybody knows what material you're gonna be using, but in addition, if you have leftovers, you can use it for the next property.

There's a bunch of great benefits to that, and it just helps you streamline your business if you're using those same materials. So, Do you use, for example, do you, I know you use the same paint in every single one. Do you use the same flooring, everything else, all the way through? Say for example, all your apartment buildings, is that how you operate it?

So no. Apartment buildings we is completely different ballgame. But for it, it really depends on the price point of the property. Right. Rentals, we don't use hardwood floor, for example. Right, right. And sometimes with the supply chain, I had to really pivot to. Not my preference, but what is in stock right now, right from this brand and shift a little bit since 2020 because it's a completely different type of market.

We couldn't wait to get certain things, so we had to really adapt to what is in. Stock. And I give my GCs really like the green light. Listen, if you don't see this, um, faucet here, look for something similar. And usually they say, they shoot me a tax or a boxer and say, Hey, would this work? All right, cool.

Just go for it. And they have their own suppliers, uh, as well. So I'm not attached to it, but I, I'm preserving my energy. It's not where I wanna put my. In this stage of exactly of my life, picking finishes, picking a faucet, spending an hour to pick a faucet, my, the return on my investment there is very little.

So I empowered them to say, this is just a guide over here, but if it is not, if you don't have it, sh share with me. What options do you see there? That it's available. That's what we had to do with the pandemic. And I love that shifting to, you know, just get something close enough where you don't have to keep making these decisions over and over again is a great way to kind of think through that as well.

So I wanna shift gears here and ask you a couple of questions that we ask a lot of our guests, cause we get some cool answers out of this, some of these as well. So the first one is, what part of your work or life makes you come alive? Uh, it's one of the hardest thing and the good thing, right? So, uh, when I decided to get a divorce and really reinvent myself and I had to think about what is working, what is not working in my life, and what do I want my life to be about?

And it's much more than being a real. Estate investor, and I think that real estate is a tool for me to live the life that I want to do. So my work with the real estate investor community is to do the same with other women. I get that real estate is your thing, is the tool, but what else is behind there?

How can you build generational wealth and live there right now? And set the next generation for success. And when I see the woman coming and say, listen, let me tell you, let me update you on our last conversation. And what happened since then from a real estate perspective, from a business perspective, and from like self-care perspective too.

So I love seeing that, that it's just not me. It's not about me anymore. It's about, okay, how can we really shift how the real estate industry looks like for women specifically? That's incredible. Absolutely love that. I love what you guys are doing on that side of it as well, because it's just a, it's kind of watching how you guys are growing, especially your community, your conference, which we'll talk about in a second.

Um, but all those things are absolutely amazing, so I love that. The second one is, what is your biggest fear when it comes to money? I believe that. It's when I think about the next generation, right? My son, he does not need to be a real estate investor. He could be a tattoo artist or he can be something else, but he really needs to understand how the game of real estate works so he can leverage that.

And my biggest fear if it's like I just wanted to. Sell everything. Just like I've gotta travel the world, right? I don't believe I'm raising a child that it's nauseous and uh, like that or entitled like that. That's not what I want. Uh, I might put everything in for charity before I passed, but that would be my biggest fear that my.

Ends When I die, I want him to really embrace what his life is all about and then live it to his children if he decides to have children or make an impact in other people's lives so they can continue it. But my biggest fear will be if my legacy dies when I die. I can absolutely see that as well. I have two young boys and I can see that same thing.

You work so hard to build up all this wealth and then, and it, you wanna make sure that it's preserved and for their life and to give to others and all those different things as well. So I like that one as well. What the third one is, and we asked this one because a lot of people just like to get new ideas and stuff, so how do you plan to level up your finances this year?

Oh my gosh. Every time that we level up. Right, you gotta face your demons. Yeah, exactly. It is not a joke. And I don't think a lot of entrepreneurs talk about it because you can see different things and they're like, oh, it's going so well. Well, but there's a lot of things that are not going well. Right. So we are actually in the process right now.

We have been working with a bookkeeper. C p a for many, many years. Um, and we're gonna have an integrator right now really creating a very robust beyond QuickBooks projections for us, so we can really start planning two, three years ahead. Really strategic. And it's, even though I like systems and process, Gets some to a point where you're like, I need a break.

Like, exactly. So I can think, right? But it's a good thing cuz it means that I'm getting out of my comfort zone here and we are committing to really elevate this company if we want to really take it to the next level. So it, it requires us to really get out of our comfort zone. Level up our leadership and hire people that know more about what we do.

So that's a we are right now there. That's a great one. So you're living out exactly what we're talking about here, which I absolutely love, and putting people into place to kind of do some of the things that you don't wanna do to help you grow, which I absolutely love that. So the next one is, what is the best money advice you've ever received?

Let me pull my crystal ball over here because listen, as I evolve as an investor, as a business owner, as a human being, I like contradictory approaches. So what worked for me in the past? Well, first of all, I had no money advice before until I was in, uh, my second master's degree that I was like, why am I paying for my entire master's degree, $75,000 cash?

Why didn't get a credit card and start leveraging that? Can I answer that cuz I didn't have the tools for it? And then you start, okay. Fund and then really building a business that runs on its own. And then recently came across this book called Die With Zero. That's the, that's a great book. Shifting a little bit in terms of how can you live your legacy now and have experiences so.

I wouldn't say I hesitate to give money advice because as I'm growing, I am shifting around and testing out so many different contradictory advices about money. All I can tell you is that you have to have a pulse. You have absolutely, you have to have a pulse on what comes in and what goes out a hundred percent.

No matter what strategy you're looking to do. If you're looking to save or spend everything in experiences or really devote to charity, whatever that is, you gotta have a pulse and you gotta look. Looking at your bank account balance is not enough. You gotta really dig a little bit deeper, and I highly recommend the book Profit First for that.

Profit First is one of the, one of the best books out there as well, and so is Die With Zero. You mentioned two great books there and what you're doing there is you're looking at two different perspectives, which is really important for a lot of other people to do as well because that's how you learn and you grow and you can see both sides, which I love that.

Um, the last one is my favorite one. So what does wealth mean to you? Well, I've been very, a lot of conferences, right, and I was taught that wealth means the number of doors that I own and the checks that I waved on Instagram and the pictures in front of the cars, and I couldn't relate to that, right?

Wealth to me is doing. What I want, whenever I want with whomever I want, as often as I want being in charge of my time. I'm here right now talking to somebody because I have that freedom of time to do that, and that is what I love. To do instead of being somewhere in a cubicle where people are telling me how much am I worth, how much my time is worth?

Nothing wrong with that cuz I did that in order for me to get where I am right now. But I am living what success looks like to me. Being able to pick up my son at school if I desire, take him to soccer, practice, swimming, or whatever I want whenever I want. That's what wealth looks like to me independently.

I love that. That's all my real estate assets has nothing to do with my real estate assets. Exactly. That's the biggest thing is it. It allows you the time, the freedom to do whatever you want in life, so I absolutely love that as well. Well, Andres, this has been absolutely amazing. Where can people learn more about you?

Your conference, podcast, everything else. Let us know everything where people can learn more about you. Absolutely. You guys can find more information about us and Instagram at the Rio thing in Vashar, and we are hosting our second annual conference in Scottsdale, Arizona on May 18 and 19. And the theme for this year is generational wealth.

We're gonna talk about A to Z there. Investing internationally, pr, setting up the kids for success in the future. Uh, Sharon Lecter is gonna come to talk about how can you build a company and exit rich if you decide to sell the company. How, what do you need to put in place? So it's gonna be 500 people at an omni resort.

We rent an entire resort for ourselves. So everybody that's going to be. Is an investor looking to live a big life. So I invited you guys to join us. That's absolutely incredible and we will link it all up in the show notes down below as well and that that conference sounds amazing cuz generational wealth is well this podcast is all about.

So that's absolutely amazing as well. Well thank you so much for coming on. This has been absolutely great. Thank you. I really appreciate. I here serve.