Billy Keels  00:00

Today's conversation is sponsored by first generation Capital Partners. If you're an accredited investor, and you want to know about how we're helping other accredited investors keep more of their income, go to first gen cpe.com forward slash going long.

‍

00:12

You know, we're used to things like saving is a virtue, right? Like Saving money is a good thing, right? Well, right now saving is actually bad. The more you save, the more you lose. And actually, you guarantee your losses, right? I mean, it's between, you know, 8%, which, you know, eight or 9% is what they say in the US. The inflation is I think it's much higher in Europe.

‍

00:28

You're listening to the going long podcast with Billy keels, the number one podcast for long distance real asset investing.

‍

Billy Keels  00:38

Welcome to the girl on podcast, we're back once again to continue to help to educate you so you feel much more comfortable as well as confident investing me on your back yard? And yes, I am your host, Billy keels. And I'm really looking forward to welcome you back to this conversation. Because this one is a keeper, you got to make sure you listen to this one once or twice, check it out. Listen, everybody, I just want to continue to say thank you so much for continuing to leave your honest written reviews, your your ratings, also for plastering social media with screenshots. I really, really appreciate that and tagging us it's awesome, especially when you do that on LinkedIn, it's absolutely fantastic. If you haven't left your honest written review or rating it feel free to do that. All you need to do we've even made a little video for you. If you want to do that on the Apple podcast platform or on Spotify, make it really, really simple. And then also to for everyone that has wants to check out previous episodes from the very beginning, you can even go back to episode number one, check me out there, which is absolutely pretty amazing. Go to firstgencp.com forward slash podcasts. Once again, it's first ncp.com forward slash podcasts. And listen to today's conversation. Like I said, it's a keeper and want to make sure you check this one out. We have you know everyone who is a high paid professional, especially if you've been in the medical sales industry. And you've made that transition from high paid professional, and you are you're looking to make the transition or you're making it and you're just looking for some more ways as to how you can continue to add value. We've got an amazing guest today, Mr. Bronson Hill, and he's going to share his insights with you. And you're gonna get to that just after this. Are you a busy high paid professional, someone that in the previous two years has earned $200,000 and is expected to earn $200,000 this year. Or maybe if you file jointly, previously, you've earned $300,000 The previous two years and you're also expected to do that this year. Or maybe if not, either individually or jointly, you have a million dollars in net worth not including your primary residence. If you meet any of these criteria, then you're someone that the IRS considers to be an accredited investor. That probably means you're someone like an enterprise software sales executive, you may be an executive in a major corporation, you may be a doctor, you may be a lawyer may be a high paid consultant, you may even work for a major sports franchise, the thing I know you have in common is that you continue to do the hard work like you're doing 100% of the work. And you're only bringing home 50% of the reward because you continue to get crushed by your income taxes. If you are tired of this situation and you're looking for a new solution, then go to first gen cpe.com forward slash going long. When you get there, that's going to help you to start the journey so that you can begin to take back control of your taxes take control of your time. And then also that means you're going to be able to spend more of the time that you want with the people that you love the most. And that is the way that you're going to get the personal freedom that you're looking for. So if you're looking to take back control, go ahead and go to first gen cp.com forward slash going along and see how we can help you today. So you know what if you've ever wanted to know what it means to go from medical sales success, to the multifamily phenomenon, and beyond, then guess what? Today's a conversation you're going to want to listen to, until the very last word you know why? Because listen, today's guests not only was a high performing medical sales rep, and he did that across multiple disciplines, he's sure he's going to talk to us a little bit about that. He also began his real estate investing career or let's call it real asset investing career back in 2006. Today, he's also a business coach and syndication coach. He is wonderfully engaging personality and he has the ability to assemble thought leaders to discuss really amazing current topics and I really want him to talk to us more about how he does that. He is the host of the super popular podcast, the mailbox money show and he also has his own multifamily meetup in the Pasadena California area. It gives me great pleasure to welcome today's conversation the Managing Member of Bronson equity Mr. Bronson Hill Bronson. Welcome the show man.

‍

04:32

Hey Billy man that's quite an intro. I feel like I need to stand a little taller after here sit a little taller. But man I'm excited. Excited to be here with you man all the way you're all the way from Barcelona's. I love it.

‍

Billy Keels  04:42

Yeah, man. This is awesome. And this is this is really going to be an amazing conversation so much. I'm sure that the go along family is going to learn today. And yeah, man, this is this has been a long time coming. So here's the thing though. I kind of want to get into into your story. As you know. I kind of asked everybody at least the same Five questions, you're gonna get a lot more than five questions by the way, Bronson, you're gonna get two in the beginning, you're gonna get three in the end, because we want to go along with me to get to know more about you. And the first question is help us understand. Where is it that you call home in the US?

‍

05:11

So I am from Seattle, but I live in Los Angeles. So Pasadena, California. All right,

‍

Billy Keels  05:15

fantastic out on the Left Coast. Appreciate that. And then the other thing is, I love positivity. I happen to know you really love positivity as well. So help us understand what's the most positive thing that's happened to you in the last 24 hours.

‍

05:27

Okay, so something happened today. And I'm really excited about it. I am like a total kind of health hacker biohacker kind of guy and I just, I've been doing ice baths for years, which I enjoy, which where you literally involves sitting in a tub full of ice, and feel like you're gonna die. But then afterwards, when you're done, you feel amazing. So I actually created a cold plunge at my house. And it's just, I've just got noticed on my phone that it's at 38 degrees this morning. So I'm gonna try to jump in today. 38 degrees, I'm gonna post that on my channel on social media. So I'm pretty excited. So maybe if you come to La Villa, you can jump in Go.

‍

Billy Keels  06:00

Alright, hey, you know, I've seen you and Kevin Hart do that. So I think it's pretty amazing.

‍

06:05

I'm sure Kevin Hart would be a little funnier than mine. Oh, my gosh.

‍

Billy Keels  06:10

No, and one of the only things I know about you, you're not going to try and do it, I'm sure you're absolutely going to do it. And you've already said, you're going to be sharing that across social media. So that will be absolutely fantastic. So here's the thing, Bronson. And I know, we know one to one another a little bit, but I'm kind of I'm a recovering perfectionist. So I try to do things sometimes that are sometimes some people would say are not even possible, sort of like trying to tell your entire backstory in one and a half seconds. That was never ever, ever going to happen. Right? So here's what I'd love for you to do, if you can help me out as a guest today as our special guest is if you could share your backstory in your own words. And then also too, if you could help me out just a little bit Bronson, could you also talk to us about some of the major decisions that you've made to get to this point in your journey? And then we'll see where you and I take the conversation from there.

‍

06:52

Yeah, so kind of like you shared, I was a well paid medical sales professional. I know, sales professionals can get paid very well. And I was making, you know, not as well as some but you know, over 200k a year, I was working about 30 hours a week or less. And I enjoyed what I did, I was a President's Club guy, four out of eight years, I was eligible. So I worked really hard. I really took pride in being a great sales guy. But then I started to learn about real estate, I just thought, you know what the one thing I don't have is I don't have financial freedom, I'm not making enough money to really live well in La 22. And a k is not enough money to live really well in LA. But at least by the standard I'd like to live. And then also, I didn't have control over my time. And I think when people say I want financial freedom, really what they're saying is I want to have more control over my time you really break it down as a lot of people are doing the time for money trade. I even saw this with physicians that were making, you know, millions of dollars a year, literally, but they were working 60 or 80 hours a week. And so the ability to get control of your time is huge. So what I did is I started buying single family houses, I thought, hey, real estate will be the way I bought four or five houses, I realised and there's a lot of work that I was gonna get to 30 I have a relative who does multifamily who said, Hey, why are you doing all the single family stuff? Why don't you do multifamily? And I said, Well, I'd love to, but I don't have the money. And he said where you can raise the money. You told me about syndication that go to this event. Listen, this podcast, read this book, I did everything he said. And there's there's a few things happen along the way. And now I've raised 30 million, I left my job about a year and a half ago. And I just love what I'm doing. I've actually had my sixth international trip coming up later this month. I'm going to Patagonia next month, actually, I guess in January when it comes to you hopefully in Barcelona, so that'll be great. So I'm

‍

Billy Keels  08:24

excited. There we go. There we go this segment. So that sounds absolutely fantastic. So many, so many things, I'm sure so much of the going long family can relate to right, you talked about high paid high paid sales, and we we tend to have a lot of salespeople, or sales leaders or corporate leaders that are here and you know, in a different space, but in the in the IT space. You know, I recently was telling people that, you know, there have been there's a there's a website called rep view and it talks about it sales software sales professionals, specifically in their earning in top earners at $1.2 million dollars. Right. So that's just a, it's just one of these things that, you know, sometimes if you're not in this space, it's difficult to understand. But yeah, I mean, we can definitely relate to the things that you're talking about. But one of the things that so you were having, you're on this trek, right, you were going to do your single family and then you got a family member that helped to open your eyes to this new space. But what was it about the real estate asset that initially caught your attention? Because you knew you didn't want to keep doing the time for money, but why was it that versus I don't know something else?

‍

09:24

You know, I think there's a number of things I think everybody that I know that has done well over time and has a lifestyle that I really admire most of them almost all of them in real estate and so I watched you know like this cousin of mine who just he just had all the time in the world he to everyone and you travel a lot I was like man I there's something about that. What is it about? And I think there's something in my mind that thought maybe single family be way to start and that's where most people start. But then I realised over time, most people don't achieve financial freedom through single family. So I think for me, it was just basically getting watching people that are doing it learning, you know, getting around people, there's a saying that you're the average of the five people rule that you spend the most time with. And so I started to get around people that were just doing things differently. And I think that's really where a lot of learning happens, you know, when you're around physicians or you're on it, people or whatever you're around, you kind of get the flavour of what they do in medical people in general, they would, whether the physicians or they worked at a company that sold stuff like I did, basically, they would be, you know, get no vacation, I think, you know, like, two weeks a year, maybe three weeks a year be kind of intermittent whatever. And it just, they just didn't have a lot of time freedom. So, you know, I realised I needed to kind of try to find a way to do something different, I just had all these ideas in my head of things I wanted to create, and I just knew I wasn't gonna be able to do it by staying with that job.

‍

Billy Keels  10:38

Makes makes a lot of sense. And really having that focus on on the time freedom aspect, and being able to see and understand where other people have been able to create their time freedom, and that is what moves you in that direction, which makes a lot of sense. And then you know, you're there, as we're here also to talking about investing and investing long distance in real assets. I tend to think that it's a pretty or at least it used to be it was a pretty contrarian kind of way, like most of the books that I read, said, Hey, listen, if you're going to be a landlord, make sure that you're within the, you know, one hour rule or something like that. And you can go see things and do things. Well, as you know, I live in Barcelona and have almost over a decade while I was working my day job was investing in different types of real assets, always back in the United States. So this whole thing about investing long distance seemed very contrarian. A lot of people said, Why would you do that? Don't do this, don't do that. I also happen to know well, you're out in California, and I know that the company, your your company, invest in a number of different locations that aren't don't happen to be California. It's extremely constrained. And I know sometimes it can scare a lot of people. So I always want to know, why in the world. Did you decide and what gave you the, I guess the confidence to be able to invest beyond your backyard to a different location that can be you know, maybe even 1000s of miles away?

‍

11:52

Yeah, so we have a mutual friend, Robert Helms, it says this, you know, live where you want, and the investment numbers make sense. And I don't know that I'd necessarily choose California to live. There's a lot of crazy politics and like crazy problems with a lot of things. But you know, the weather's great. So we pay a lot for the weather, but, but I think for me, even when I was doing single family houses, we had four or five in the Cleveland area. And I basically learned kind of through a programme or kind of a coach that you actually can do this remotely, and how to build a team remotely. So that was actually really helpful. I really thought about that. But it was a very transferable thing, right, you learn you make it, you built a team in one place. And then it actually allows you to scale more, if I had to do everything, I watched people that do things themselves, and whether it's single family, small multifamily, whatever it is all within an hour or two, they've got to be the one that's literally driving to that property and doing everything themselves for me, like, you know, all of our stuff, we've got, you know, about 1500 units in Jacksonville, Florida. Now, we've got a 500. In Atlanta, I actually just saw one in Atlanta, this was last week. And so, you know, I go to the property, you know, I look at, you know, things there, but I'm not the primary asset manager, I'm not the one who's running the show, now, we actually hired a full time asset manager, right, so with one of my partners, so it's like, I have the ability to create conversations and information and content and also passively invest in that bring investors but I can do it from a distance, and not have to be there regularly, like I do go visit each property. But I'm not the one who's actually doing that. So the amazing thing about multifamily or a lot of these bigger investments is they involve team, right, there's a lot of team members, and you've had team members all over. And so if you have a team member that you trust, you don't have to be the one who's out kicking doors, I guess not kicking doors, but knocking on doors and making sure that actually your things that these renovations are being done, or the manager managing the manager kind of on a week to week basis. But it is important, you have team members there, and it takes trust, but then it allows me just like a full time passive investor or somebody who's fully passive, to basically have my life and not have to be the one who's actually managing an asset. So that's what I love. So I feel a commonality with a lot of our passive investors that I can participate in that as well.

‍

Billy Keels  13:48

Fantastic. So recognising that just curious also to how much of that would you say is can you attribute to being able to like having worked in a larger multi multinational and kind of seeing maybe how things work there? Because sometimes I know people think wow, from California to Cleveland, even on a, you know, single family resident, that's amazing. I don't really see it's that big of a deal. But also because I came from a different environment. I just curious how your corporate experience also was helping you even do things that were contrary and quote unquote, from the very beginning. Yeah, I think it's

‍

14:19

interesting. There's a lot of things that were influenced by that like honest, I don't mean real, I didn't really thought about that. But you're right. I mean, we do meetings all over the country, we do you know, I have my own territory. But then when I would be out of town, somebody else would cover the area, you'd find a colleague to kind of cover medical procedures when you're gone, or you have other things or you just tell them hey, I'm sorry, I can't be there. Can you guys make it on your own kind of thing? And so I think there's there's a lot of things I think people don't realise is where I think, especially for passive investors is really helpful is that we don't realise that, you know, if we've had a business, we've been a professional, we've done various things that basically those things all apply to real estate, right? We can bring strengths of being you know, strong and looking at numbers, evaluating information, all that stuff applies, or maybe we're good at networking. Dang. So that's a great skill when it comes to real estate. I know a guy that's a full time passive investor, he just simply spends, like most of his time he's in like 70 deals passive, literally 70 deals, I think it sounds exhausting to me, but he loves it. But he spends most of his time just networking, trying to learn about new deals. And so again, there's these skills that we have we learned in our professional life that we can totally bring to investing which I love.

‍

Billy Keels  15:21

Yeah, which, which is absolutely fantastic, that networking kind of aspect, I'd love for you to expand on that. Because, you know, when I watched and I think most of the people that have known of you, or if you're getting to know Bronson today, like one of the things that you make yourself in the things that you're doing in the way that you're serving others, you know, very visible. I know, networking is something that we talk a lot of people talk about, but aren't necessarily understanding the power that can come from networking, I know that it happens to be one of your core strengths. And I'd love for you expand on that just a little bit in terms of networking and, and how you see that as another ability to not only learn but also serve others.

‍

15:55

Yeah, so there's the saying that you'll be the same five years from now except for the books you read and the people that you meet. So the idea is, there's two things a part of that one, one is education. So learning new information, learning new skills, going to conferences, all that. And the second part of that is, is networking, right. So it can be literally changed, like meeting somebody at an event has been transformational. If, for example, I met my first investor at a meetup I started in Los Angeles, right. And that was my first I go from zero to one that was huge, it became a general partner deal, he only invested 100k. But that was kind of got me going. Six months later, I connected with a partner at at an event that, you know, this Investor Summit that you and I are familiar with. And basically I raised $15 million, together with this person over the next 18 months. So meeting the right person can be absolutely transformational. So I do go to a lot of as I go to 2025 events a year, people like oh my gosh, you travel too much. I'm like you have probably to travel too much. But something serendipitous always happens. So I don't have to be the travel. But just like yourself before you find a way to build a connection with somebody to be able to have a conversation to be able to connect. But I feel like there's a real amazing thing that happens something magical when you're in the same room, you're talking with someone face to face, some awesome doors can open up and then yeah, on social media, you know, anybody who's kind of an influencer, building their business I anytime I go to an event, I always post it on social media, because I want to be seen as somebody who is somebody who is a connector or somebody who knows, folks, and it's kind of in different circles. And so that opens a lot of doors also, but it's kind of something is developed, and I've been really enjoying it, but it's a good, it's a good notice that you've picked up on that. So

‍

Billy Keels  17:25

yeah, absolutely, man, it's, it's it is one of those things, you know, sometimes it is just, you know, one or two relationships that can really change, like you mentioned, you go from zero to one, and then that puts you on a different trajectory. And then you you know, you put yourself in, you know, the whole thing of you travel too much. I think that's actually kind of interesting that someone would say that, but you know, you travel what you what you want to travel. And you're able to develop those relationships and have new knowledge and things like that, which I think is is absolutely fantastic. And, you know, I actually speaking of which, so we kind of talked about you getting out there and you're a connector. I also know that you happen to have a passion for the education side of things right at the very beginning, we talked about you as a as a as a syndication or as a mentor, and also and as a coach. Can you talk to us a little bit about how you know how you have decided to kind of formalise that type of thing and help others to become the best versions of themselves in whatever discipline maybe if you want to drill down on that as well. Yeah,

‍

18:24

so in my journey for financial freedom, I actually did some things on the side where I was working, and I basically became an investment advisor for a few years, I worked with some kind of alternative assets and Wall Street products. And I really got convinced that in general, Wall Street is just not out there looking for people's best interest, right, they will take fees, there's a book by Tony Robbins about these called Money master the game that came out, saying the average mutual fund will say their fees are 1.2%. But there's all these hidden fees, they don't have to legally disclose. So the average view actually is about 3.2%, which is hidden, it's not even disclosed, it's crazy. And the returns for the stock market typically are kind of in the, you know, historically, the six to 8% range. So that's that's like, you know, a good majority of your money. And if you have an advisor that take another 2%. So it's like all these fees add up and I feel like people are just here were educated by firms that are really biassed to help, you know, take fees from us. I feel like it's really a mission that's really to help people become financially free. One is to get outside of Wall Street into Main Street stuff and you're passionate about that as well. And then secondly, it's just it's really giving people financial education, I realised the biggest thing that helps people grow their wealth is financial education. You know, books like Rich Dad, Poor Dad or other financial books are things that really can just help people to understand how syndication works. When I first heard about syndication, I was like, What the heck is that? It sounds so weird, everything sounds weird, and it sounds foreign until you've done it or you met somebody who has done it. So I think of a call I had with a physician who was worth you know, he had a medical practice with $5 million that we'd asked about net worth. He's worth 5 million. He's only invested in stocks and bonds and a lot of people have had that experience where they have a money guy or a money person and They just do everything for them. But the challenge is like, they just they can't get their head around, really how alternative asset works, I have an investor. Now we're just going back and forth, we have an ACM fund that we're doing now. And this person had some sort of fee based financial advisor just said, I think you're making a big mistake, whatever he forward me the email, this person said about these alternative investments. And I said, Man, this guy like I, usually they're not wealthy, or he made his money while he was doing his business, and not by investing this way. Like, it's just like this financial system, do you do the traditional way it's set up to keep us poor, and actually take incredible risks. So I can talk for a long time about that. But I think again, it's just something that I see in our system that is totally backwards. And I think it's really a huge problem, that most people have no idea that they're just at incredible risk just sitting in these traditional assets.

‍

Billy Keels  20:46

Yeah, and so you know, a lot down to the passion that you have around something, right? You when You recognise that these things are happening, you have the opportunity to continue to educate people. And you're doing that in a way that is through mentoring coaching, so that you can effectively allow people to have more time freedom, which is one of the things that we talked about from the very beginning. Trusting that you're enjoying today's conversation. And you know, if you're tired of getting crushed by taxes, and you're looking for greater freedom, to be able to choose what you want to do, when you want to do it, make sure that you go to first ncp.com Ford slash going long, and see how we can help you today. Let's get back to the conversation. Also Brunson your, your guy who's known to you know, you get out there and you want to make sure that you're also bringing in information and bringing in perspective and perspectives from some of the brightest minds that that are out there that talking about current events, I would love to and I'll throw out some of the things one of the things I appreciate about you is that you're constantly bringing thought leaders together to be able to talk about current events. And that could be in the area of precious metals. It could be current events, it could be maybe something specific, like multifamily or something else. And that way some people might scratch their head and go, How in the world is, you know, this process out there, and he's, you know, he's got rule on this thing. And he's got Russell grey, and he's got Daniel DiMartino. Booth and these names that some people may recognise. Talk to us a little bit about kind of, what did that what did that start and kind of how have you been able to build that momentum to be able to continue to help bring thought leaders together to continue to educate because it goes back to your, your desire to educate others? And you're just talked to somebody about that?

‍

22:26

Yeah, no, it's a good. It's a good notice, man, you're insightful guy. I appreciate the questions. No, I think that, you know, I've learned a lot from people that are much smarter than me. So I've always attempted not to be the least smartest person in the room. Right. So I'm leading a panel with three other people, which we do once a month or Bronston, equity investor series monthly. I tried to bring together who are some of the brightest minds who are some of the people that I respect. And I've asked for people that I've not gotten, you know, I've asked, I've gotten people that I'm really grateful. I've gotten, like Ken McElroy, and some people you mentioned, and like, I love that it's been amazing. It's developed some great relationships and friendships. But first of all, I get to be in the room asking those questions kind of moderating that, I think that's a skill to be able to moderate a panel. So I'm learning how to do that become even live events. That's something I've seen for somebody who can moderate a panel, which is great. But to me, it's just about what you know, what's really happening. And again, you can watch hours and hours and hours of YouTube videos. But some of the best events I go to are ones that bring together some of the smartest minds, and they have conversations around things. And so, you know, George gammon says this, And then Chris Martenson says this over here, Rick Rule says, and it's just like, you get this synergy that like you really can't get anywhere else. Right? It's musical. Yeah, I thought about that. But this or, you know, I agree with this, or they even see them kind of like engaging with the ideas as well, how do we do this, I think that it's something that it really does allow me to get better, immediate, smarter. So now when I talk about things like inflation, or financial stuff, which is really important, I think today, no matter where you live, that you're looking at not just real estate, or not just one asset class, you're looking at macroeconomics, because if you're doing that back in 2006 2008, especially in the US, you would have lost your shorts. And we know some people well that have lost lost a lot or lost everything during that time. So paying attention to what is happening, I think right now is so so important. So I think you know, the reason we do it is again to help try to add value. And and you know, again, what I get I it's kind of selfish, as long as I get to get these people in the room, I learned a tonne. And then I think we had about 100 people live and or five people live, it was just like, we had a great conversation and people are interacting, and they're asking questions, and it's just a lot of fun. So I feel like those events that used to be like really nerve wracking, oh my gosh, I'm leaving this thing with all these people. And I've got 100 People live and it just it felt like a lot. But now it feels like it's a lot of fun because I get to be a part of that. And I get to really add value there.

‍

Billy Keels  24:35

Well, and it's great, right? Because you are having fun. And that comes through you are adding value because you're helping to educate and you're also bringing sometimes converging points of view on its on a topic, which I think is a very healthy thing so that you can continue to help allow individuals or allow people to come up with draw their own conclusions. But I do want to draw it because one of the things that you said and I hope everyone here heard what Bronson said he said that, yes, for the for each person that he does get there are other people that he doesn't get. And that doesn't keep him from continuing to ask, right? Because if we don't ask and this probably you and I both come from a sales background sales leadership background, it's just the norm. So just because you see all the accolades, there are things that you know, maybe not every single person has been a guest with you yet, but I'm sure they will be very soon.

‍

25:26

But you miss 100% of the shots you don't take any Wayne Gretzky said that, right? It's just like in anything, whether it's, you're going for a job or you're trying to get the sale? Or you're asking somebody or dating or you know, if you don't ask the girl out, you know, you're never gonna like, find your soulmate. Right? Like, it's just not gonna happen. So it's the same thing with this is just the exact same.

‍

Billy Keels  25:43

Absolutely. So you know what I'm gonna I'm gonna take a page from your book, because you mentioned something that I think is very important, especially nowadays, right is the is the is a topic of inflation. I know you've also come up with, you've written about the topic of inflation, and how you can actually use an inflation, which some people would think well hang on a second, you can actually use it to your advantage. Well, what does that actually mean? Absolutely mean, I don't even understand that. It seems like it makes me want to scratch my head. You've spent a lot of time on this topic. Love for you to help me paint the picture as to, you know, how can you use an inflationary environment to your advantage?

‍

26:15

Yeah, well, that's I actually wrote I did write an ebook on this or it actually, it is a download at my website, how to use inflation, your advantage 50, killer pages, all kinds of strategies there. But I think really, the conversation now is a lot of people this is a different environment than we've ever really been through. Right. We most of us have not been investors in the late 70s, early 80s. and myself included. And so, you know, we're used to things like saving is a virtue, right? Like Saving money is a good thing, right? Well, right now, saving is actually bad. The more you save, the more you lose. And actually you guarantee your losses, right? I mean, it's between, you know, 8%, which, you know, eight or 9%, is what they say in the US. The inflation is I think it's much higher in Europe, even though inflation is much higher. But if you look at the unofficial numbers, like shadow stats, it says it's more like 15 to 18%. So if that's the case, you know, if you wait the next couple years, which the confused mind will say, I'm just gonna wait, things look kind of scary, I'm gonna wait. And so people wait, and you could be losing 35 to 40% of your purchasing power. Now your money doesn't go away, you still have your money. But the the what it buys is worth less. So I'm trying to get about 95% invested my net worth into different deals, because of the inflation has this built in. So a couple of quick strategies on how to do that real estate, obviously, is a pretty easy one. You know, if inflation is here, we see rents and inflation go hand in hand, I can pull up a chart from the 1960s, it shows a trend line between here's what inflation is, and here's what rents are rents lags slightly, but it's almost a complete correlation. So we know rents are going up, they're gonna continue to go up, especially in the US, we see such a demand for apartments, but sure, between three and 8 million apartment units, we know that's going to happen. And the amazing thing about real estate is as the value of those are, the costs of those rents go up, that's what how much these properties are worth. It's not like a comp with single family where it's like, oh, this house sold for this much. And it's based on okay, it's what's the house value across the street of the sale down down the block, it's basically how much income is being produced in the property. So if we know rents are going to be higher, the values are going to be significantly higher in five to 10 years. So by taking out good debt, that's, hey, we're taking out debt at, you know, 678 percent, really, I think, below the true rate of inflation. And you know, you only need a 20% increase in the value of your property to typically double the value of your investment, right, if you put 20 or 30%, down, the value of the property goes up by 20 30%. You you've doubled your equity, you haven't had a 20 year because you're using leverage. So to me, there's so many benefits of real estate, there's tax advantaged, there's all kinds of stuff, that it allows you to really use other people's money, get into great assets, we know long term really worth more, and you get to pay them off with future dollars that are going to be worth less, right, because the dollar is being devalued. We know that it's going to continue. So anyway, that's just that's just one part of it. But I think that's something a lot of people need to hear. Yeah, no,

‍

Billy Keels  28:57

absolutely not appreciate you giving us a very concrete example and helping us to once again understand how, you know, just because we hear about inflation inflationary environment. Okay, well, what does that actually mean? And how does that affect your specific situation? And you've talked to us about one specific kind of asset area, some would say asset class, right in real estate and how that can be used as as an advantage against against inflation. One of the things and I guess, did you want to build on that? Was there something else you want to?

‍

29:23

I mean, I think just the idea right now these days is just buying real assets, you know, buying things that are physical, tangible, you know, our friends, the real estate guys kind of got me introduced to physical precious metals. And so I've started buying metals and there's value going to borrow against the value of that instead of holding cash. Well, there's a hold gold and silver and a third party vault and then you can borrow against the value of that. And you can basically use it almost like a HELOC or a home equity line of credit. So there's all kinds of strategies you can do but I do think that you know, real estate or assets that pay you to hold them cash flowing assets within an eight inflation hedge are huge.

‍

Billy Keels  29:58

Yeah, and you know, and it's one of those things that I It was a kind of a paradigm shift for me, because I always used to think, Okay, well, yeah, I want to have as much liquidity as possible when sometimes I got to a certain point, it was like about how do I actually have the assets that can provide me liquidity? Because there's a strength in that as well, right? It's not always just about having liquidity. I love using the example of having precious metals and being able to borrow against that. Because effectively you are, you're leveraging an asset to be able to access liquidity. One other thing that I do want to just kind of ask you about Bronson, before we get into the going long, final three, is you've spent a lot of time and invested a lot of time speaking to a number of passive investors, you know, and I'm gonna think it's probably well over, you know, 1200 1300, maybe even more than that, I'm sure it's over that at this point in time. And also helping to educate them. But maybe what are some of the things that you have learned, after speaking to so many different passive investors in the things that they are also looking for? I know, You've touched on some of it at the top, but just want to talk to that, that experience that you've had?

‍

31:02

Yeah. So in speaking, you know, with over Yeah, it's been over 1300 investors, it's been an opportunity interview, like, you know, a bunch of millionaires, right. What are these people do? What are their habits, I think a few things really impressed me is, one is that they take time to have a 2030 minute call to learn about investments, you know, they're actually taking the time to do that and educate themselves and learn about different investments. And so I thought that that's really interesting. And then again, a lot of these people have have turned a corner where it's gone from like, Hey, I'm gonna go buy a rental house, a lot of times, like, I'll meet a physician, and my background is working with physicians. Oh, yeah, I have a rental house, I've got a vacation property, I got whatever. And the challenge, I always ask everybody in that situation, I was like, if you want a 10x, your investment would take up more of your time, could you do it, you know, with your schedule is like, well, I work too much. But it was like, well, well, then you're not really having passive income. I don't think a rental house, even if you have a manager, even if you have a vacation, but those are not necessarily passive strategies. I'm not saying they're wrong, I'm not saying you shouldn't do it. I'm just saying that. If you really want to get to a place where you're developer, you have a lot of wealth. And you're saying how can I actually, you know, get all these investments going to where I could double my money in five years, or I could have just a process to grow money outside of my business or outside of my profession. And that's what a lot of people don't have. And that's the thing that I think I really hope and I pray and I desire, and I just contend for with people really, it's like it because it's a transformation, when somebody goes from like that, they they've never invested in a passive deal. They invest in one of our deals or somebody else's deals, and then the light goes on, they put 50 or 100k in a deal. They're seeing the cash flow, they're like, oh, my gosh, this is the best thing ever. And it's like, it's like the like the light bulb goes on. It's like the matrix like I'm alive. No, I've never seen this guy. And then because what happens is they see a potential road. And they maybe the first time maybe the second or third deal, but they see that oh, my gosh, I actually I can leave my great job. I'm making a lot me I'm making a million dollars a year, but I could actually replace my income, I could replace my expenses. This is and I don't have to work for it. Right. And Warren Buffett says, Unless you learn how to make money when you sleep, your work until you die. And a lot of people you know, we're getting paid well, but it's a time for money trade.

‍

Billy Keels  33:01

Yeah, no, absolutely love that. And, you know, when you when you have so many reps, right, so many repetitions reps, it is one of those things that you start to recognise patterns and you start to see. And yes, I mean, when you start to realise that you can actually generate benefit. And usually that is through financial benefit in the beginning. And you realise that financial benefit gives you more control over the most important asset that any of us have, which is time. And you can do that with you can generate that. Those financial resources without it being tied to your time. You start to go wow, okay, how do I do more of this as quickly as possible? So yeah, man. So listen, I also know that we kind of have to get to the going long final three Bronson, we've talked about so many things, actually, just really quickly, and I know you're gonna you will talk about this here in just a second. But to help us understand, you know, how are you how do you work with or how do you serve other passive investors with through Bronson equity?

‍

33:57

Yeah, so, you know, Bronson equity, we're a group we have about 200 million in multifamily assets. We also so we're doing stuff in growth markets, areas that in the Sunbelt, are we see population growth, job growth, growth, we typically go after value add properties, commonplace we're working in rents are $1,000. We know after we do a light renovation, about a $6,000 renovation, we can take rents to about 1500. So we'd like those type of equations, because we know that no matter what interest rates do, no matter what, you know, some of these other factors happen, we're going to do really well in those areas. If we can just complete the process of doing those, you know, the value add component of those deals. We also are involved in the ATM machine space, we've partnered with the fifth largest operator of ATMs in the country. We have a fun we open a few times a year. And we love that because that's provided probably the most consistent cash flow of any deal that I've seen, which has been great to have a monthly cash flow for people. And then we also have some stuff we're doing outside of real estate where we're looking at some energy stuff. We've got a technology play in the oil and gas space. That's a potential 100x or higher type of investment. I mean, obviously there's some risk involved in that but just as always, we always Looking at things of our I look at things if not just, you know, what is the asset? It's really what does it do for you? Right? Like I, I don't love real estate, I love what real estate does for me, but I don't you know, I'm not committed like it's just every investment has its own profile. So it's important to think about what are the risks? What are the returns what could go wrong and, and every deal every deal has risks. So you have to really consider that and look at all of those things. But I think as an investor, as you grow, even as a passive investor, you'll learn you'll get comfortable with more things. We've had a lot of investors join us in other alternative assets as well.

‍

Billy Keels  35:28

Fantastic. Well, I appreciate you sharing that. And yeah, it was very similar, right, I started in real estate and then went to a number of different areas. As you know, I'm a big fan of ATM stuff as well and energy space as well. And this is one of the things that you start to realise that as you grow as an investor, active or passive is that what is the outcome that you're looking for? What is the lifestyle you're trying to, that you want to be able to build and and how can these different investments help to support that along the way, so appreciate you giving us that and then listen, I gotta jump into the gold long final three. But here's the thing, Bronson. I never asked any of our special guests and you're our special guest today. Any of the gold long final three, and unless you tell me that you're ready, so are you ready?

‍

36:04

Okay, well, I would hold on. Okay, I'm ready.

‍

Billy Keels  36:06

Now. I'm ready. I knew that would be the case.

‍

36:10

Okay, ready? Born ready? I

‍

Billy Keels  36:12

mean, you're getting ready to go to jump in 38 degree. Ice tub.

‍

36:16

Yeah, that's true. That'll be that'll be the next interview.

‍

Billy Keels  36:20

But here we go. So So we started with you over in on the Left Coast. As you know, I'm from Columbus, Ohio originally, but I've been calling this side of the pond my home for the last 21 year just like amazing even think that say that. But I'd like to bring things over back this side of the pond. So help us understand what is your favourite European city that you've either visited and I know you've visited over here a lot. You've been talking about it already? Or it's still on your bucket list to visit. What's that one city?

‍

36:45

Man, I really have a hard time with this. You said people have a hard time with you know, because they haven't travelled. I've travelled a lot of European places. And it's hard to pick just one. I mean, I've got a lot of them. So I'll stick with kind of a classic one I really like London is a really cool city just because of the the British Museum is awesome. There's a lot of just kind of classic looking for areas and things about London that are just really fun. I mean, Paris is obviously another one just some of the beauty there and then you know, I also there's some smaller places I like to so be non committal and Lancer and say I like everything I like the all of the above. That's not one of my happy. Yeah.

‍

Billy Keels  37:26

You're going on? Okay, that's cool. We'll go with London, that'll be in the show notes. So London it is question number two really has a lot to do with things that I've actually seen an experience firsthand Bronson, with a lot of people who are extremely successful, right, I consider you to be someone who's very successful, you're making a positive impact on so many different lives across the globe. And, and hopefully you would agree with me, right? Because one of the things that I've seen, especially with really successful people is that they unlike most people, Bronson, when ever they put a plan together, they put the plan together, they go out, they execute the plan, and then what they do differently than everyone else is they execute the plan perfectly the very first time, which allows them to go even back. Sorry about that? No, I'm just kidding. Okay. Faster. And you're so nice, man. You're so nice. Nice. It just so this is just a little light humour. Of course, they don't do things perfectly the first time you deal with a lot of successful people come on, it could happen every once in a while. But it's not the norm, right? It's not. Here's the reality, those individuals who are successful, typically are making, I don't know, 2050 times more mistakes, learning opportunities than most people because they're trying things so much more frequently, right. So the first part was just kind of a joke. I like to have a little bit of fun here. But this is very serious, in that, you know, every single time that I've noticed that really successful people do things and they make, they have a learning opportunity to make a mistake. And it's a relevant one every single time. Every time they stop. They learn from the mistake. And then what they do after that is pretty amazing. Every single time they put different strategies, tactics and actions in place to minimise the probability of that exact same thing happening again. So I don't want you to think about the mistake or dwell on that part. But what's the one lesson that you know that the going long family needs to hear today that you paid full price for and you want to help? That person? Maybe today, not people?

‍

39:27

Yeah, that's great. Great question. I was a couple things come to mind. One is there's a great book before you quit your job by Robert Kiyosaki. And it talks about like, the entrepreneur mindset is, can make any mistakes because you'll get fired, right? You make too many mistakes as an employee, you will get fired. As an entrepreneur, you have to make a lot of mistakes. You've got to be willing to do it. And then you quickly learn right you got to be comfortable with that but at the biggest I wanted to actually share this the biggest mistake that I made early on in my investing career I wasn't doing this was this was years ago, I did this options trading strategy, and it was making me maybe $20,000 in four or five months. And then I had a He lost in one day of $70,000. And my net worth at the time was about 200 or 250. It was it was a lot of my net worth very painful, right? very hard, very hard even acknowledge that from that, I learned that I'm not a good options trader, right that I have other strengths. And so I think not only do you learn from make sure doesn't happen, you actually transform it. So I think when I share the story, hopefully it releases people from shame. I know people that are very successful, but have lost over a million dollars on a single deal. And there's some of the people that I respect the most in the investing industry, right? So you know, losses or challenges, whatever they're not defining. They're things we can transform into. Okay, I learned this. It's an it's like when we go to school, but it happened one day, or happened in one deal, right? So so you can learn from it, it can continue to teach you so I don't look at anything as a failure. I like it all its growth and learning.

‍

Billy Keels  40:46

Love it. Absolutely love it. Yeah. And yeah, do the things that you understand and try to stay away from the stuff that you don't so appreciate that. This brasen Last question. And this is really about how we can help to feed the mind. I know this is something that's dear to your heart. And this is going to be difficult, just as difficult as the first of the going long. Final three. But can you help us by recommending just one book to the online family today? What's that one book would you recommend?

‍

41:09

So I realised a while ago that, you know, when I started have a breakthrough in my personal development, that it would lead to a breakthrough in my business or lead to a breakthrough in just my ability of what I think is possible. And so the one of the authors impacted me the most, her name is Brene Brown, and she wrote a book called The Gifts of Imperfection. So this is not a business book. This is a personal development book. It's about 150 pages, I think everybody should read it. I read 75 books a year, this is probably the number one on my list that I recommend, and probably my favourite book of all time. So it's like such a good book about entering into just your story, not letting even just like a story shared about not having shame over going through something challenging. And really, how do you live a more wholehearted life? How do you live a life of gratitude? How do you live from a place of you're really alive, you allow yourself to experience joy and sorrow and just just to live the wholeness of life. So if anybody has read that book, or is interested, you know, please reach out to me because I love that book.

‍

Billy Keels  42:02

All right, fantastic. We'll leave in the show notes. So don't worry, everybody. If you're running, you're driving, if you're cooking, don't worry, they will have a very easy link and click and you can get to Brene Brown's book. Listen, Brunson. This has been an absolute pleasure, man. And think about from the very beginning he talks about you know, high salary over $200,000 A year you're living the life you're trading time for money. You have a you have an uncle that recognises Hey, listen, he's doing a lot of stuff. He seems to have a lot of time freedom, how can you enter into into that he gives you some ideas of doesn't have to just continue to do the single family stuff. You can go larger using a lot of the same skill sets that you're using in your corporate career, being able to translate that not having the fear to go from one location to another, continuing to add value to others coaching, mentoring and educating consistently. And so I know that you've already talked to us a little bit about it, but so many of them go along families like yeah, Billy, just get to the point, ask him the question. Help us understand, how can we find out more about what it is that you're doing Bronson? And when the more of the things you're doing a Bronson equity? Yeah, thanks. I

‍

42:58

really appreciate you having me, Billy, this is awesome. I love the show. I love the concept of the show. Because it's just I mean, it really helps people to become more passive. And so we work with passive investor, we have our deals we also have I mentioned that free download, which is how to use inflation to your advantage. Got a lot of great feedback on it. That's at Bronson equity.com. I'm also on social media. So I'd love to reach out to anybody about investing or anything you want to connect on. But really appreciate you having me today.

‍

Billy Keels  43:21

All right, fantastic. Well, listen, everybody, and also Bronson. Really want to say thank you very much. Really appreciate you investing your time with me and the entire going long family today. Thank you so much, man. Thanks, man. All right. And listen, Brunson if you give me like literally 30 seconds. And we'll we'll get you out of here. So go along family Listen, Bronson hill just came left so much value for you. Listen, take today's conversation, listen to it two, three times, bring family bring friends talk about the concepts that he's sharing, talked about the inflation talked about making the transition from corporate to successfully leading his own business and educating others. And while you're doing that, while you're sharing with others while you're learning while you're going from theory to practice, I'll be here preparing for the next conversation. So until then, gotta make it a great day. Thank you very much. Trusted you enjoy today's conversation. And once again, today's conversation was sponsored by first generation Capital Partners. If you're an accredited investor want to find out more about how we're helping accredited investors to gain their personal freedom even faster. Go to firstgencp.com forward slash going long.

‍