47 - Secrets of commercial real estate: Tom interviews Dr. Howard Haller - Screw The Commute

47 – Secrets of commercial real estate: Tom interviews Dr. Howard Haller

Dr. Howard Haller, I call him Big Dog Ph.D., believes that with the right tools and training, anyone can build a full time income with part time effort because when you know how to find the right cash flowing commercial property, that's his expertise, it becomes easier to buy commercial real estate than it is to buy a house.

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Screw The Commute Podcast Show Notes Episode 047

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[01:55] Tom's introduction to Dr. Howard Haller

[02:31] What Dr. Howard does to help others

[03:57] Regular jobs that led to what he does now

[12:48] The moral of the story

[13:34] Screwed over in the dreaded J O B

[15:43] Tips for getting into commercial real estate

[17:47] Funny story of getting a rich guy dirty

[20:12] The best and worst of working for yourself

[33:13] Sponsor message

[33:54] A typical day for Dr. Howard

[38:56] Parting thoughts for us Screwballs

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Episode 047 – Howard Haller
[00:00:09] Welcome to Screw the Commute. The entrepreneurial podcast dedicated to getting you out of the car and into the money, with your host, lifelong entrepreneur and multimillionaire, Tom Antion.

[00:00:24] Hello Hello. It's episode 47 of screw the commute podcast we got a great guest today. His name is Dr. Howard Haller. I call him Big Dog Ph.D. we'll tell you about that later. I like this guy. He is a Ph.D. but he's got an enormous actual nuts and bolts. Been there done that business savvy. And you don't find that combination every day. So can't wait to get into it with him. Now please don't tell me you missed episode 46 my Monday training session on viral marketing in that session. I told you all the ways we get people to spread the word about my products and services for free. And you don't have to have a million views overnight to make good solid money with viral marketing. Make sure you don't miss going back episode 46 if you missed it. Today's sponsor is my distance learning school the Internet Marketing Training Center of Virginia. Don't even think about retraining yourself or sending your kids to college until you check out our webinars on higher education. I do not want you wasting hundreds of thousands of dollars and putting yourself and your kids under crushing debt. We'll have the Webinar in the show notes at screwthecommute.com/47 this is episode 47.

[00:01:57] Let's get to the main event. Dr. Howard Haller, I call him Big Dog Ph.D., believes that with the right tools and training anyone can build a full time income with part time effort because when you know how to find the right cash flowing commercial property, that's his expertise, it becomes easier to buy commercial real estate than it is to buy a house. Big Dog. Are you ready to screw? The commute. So tell everybody what you've been doing.

[00:02:34] What I do is I help real estate investors increase their income faster by getting involved in commercial real estate where the funding is easier. That may seem problematic but it's really not because the lenders don't look at you like they do on a residential thing they look at the property at its net operating income and the profits are higher. But more importantly owning commercial real estate can provide you with passive income it's not all this fix and flip nonsense because the rest of the building will allow you to hire a property manager so you don't have to do the work and just no more buy fix and flip nonsense and chasing after those silly REOs.

[00:03:13] Are we talking about big properties or what kind of properties.

[00:03:16] Commercial property is defined as like office buildings shopping centers and any apartment building over five units five or more. That's commercial.

[00:03:28] So a fourplex isn't even commercial.

[00:03:32] It's actually because that's because the residential loan process for single family dwellings duplexes triplexes fourplexes as are all under the same rules. And they basically require you to fill a residential loan application the 103 and it's all about the income that you have not the building, but when you change to commercial it changes it completely.

[00:03:58] So big dog. Did you ever have a regular job.

[00:04:01] Yes I did. It's been a number of years I was working for United Artists and Telecommunications Inc. I was running a huge commercial real estate portfolio for them actually billions and billions of dollars. During that time when I met my first mentor who helped me understand the lifestyle what is possible owning commercial real estate not just managing it. That changed my life. He actually became my first real estate investing partner for Commercial real estate. I bought houses before lots of those but commercial was kind of I was doing it for a job but I saw the lifestyle of the guys who owned it. That was totally different. So I became interested in screwing the commute and leaving my six figure job so I took the actions necessary to build my bridge.

[00:04:52] And what was that I mean what was that like. Was there a moment you said I'm done with this job or was there transition period or what.

[00:05:01] I was going every other week the New York City about every six weeks to Hong Kong I was managing 16 billion dollars with the commercial real estate carrying around this five pound brick around three continents.

[00:05:14] Well what do you mean five pound brick.

[00:05:17] My cell Phone. So the bottom line is that I was doing that and trying to raise kids. And I was married and I decided I wanted to have a better life. So I started buying commercial real estate with a partner of mine. And it changed my life because I'm getting ahead of the story but I'll tell you about that as we go along. But the bottom is that I wanted a better life. I wanted not to be working 60 80 hour weeks and I was able to do that by buying my own commercial real estate.

[00:05:57] You remember the first one.

[00:06:00] Yeah I sure do. Well it was out of my comfort zone but I had been fighting with my in-laws on buying real estate in the first place I mean I bought my first house at 22 fresh out of graduate school in a country club neighborhood and as we passed the walls it says Chevy Chase Estates by Chevy Chase Country Club Glendale.

[00:06:29] This is in California.

[00:06:33] My father-in-law said stop the car. So I stopped and said what's wrong. Look at these houses they're huge. I'm a lawyer. I'm a senior partner in a law firm. I can't afford this neighborhood. You're only 22 she's 18 let's go home. So being a bit of a smart aleck I said well you're telling me you don't want to go up there. No I don't want to go up there he said. OK I'll honor that request he said good we're going home I said No I didn't say that. You guys get out of the car wait by the wall. I'll come back and get you. I think that's absurd but I'm honoring your request. So we drove up there he didn't get out of the car. My wife did and I showed it to her and she said is dad right we can't afford this house. I said we can't afford it if we're going to pay the 100,000 dollars back in 1970. You're right but we're not going to pay retail. I'm never buying real estate retail I tracked the guy down it was not listed for sale. It was vacant it was a double probate. I tracked down the multi multimillion dollar would be a billionaire today. I went down and met them in a three piece suit and said this is for me and my wife and my unborn child. And I didn't give the price I gave him all his terms. Whereas as his No reps warranties all cash and stared him down and I said Sir I don't know what you wanted because you didn't tell me but i'm going to give you everything I have sir my voice cracked. I trembled and my eyes glistened. I stared the sucker down and then I said slowly I'll buy it from you as is where is no reps no warrantees all cash. No inspection and that's bizarre.

[00:08:14] Let me go further than that no one in their right mind would waive the financing contingency because and I would be obligated to buy it if I can't get the loan. That's not a problem sir. I'll make your an all cash offer. He looked at me what do you mean. I said all cash. I don't need a financing contingency. Oh ok. Are you sure about the no waiting that and I said yes. No loan required inspection. He said No sir I don't need that. I've looked at your property through the windows I know what's going on. 18 years old. I know it is. I know it's solid. It's bones are good. I want to buy it from you sir. I don't know what you want but my price is twenty five thousand five hundred fifty five dollars. All cash for me and my wife and our baby who due a month to day sir I shut up there is a long silence I thought he would throw me out or tell me he'd call me later.

[00:09:12] But no had me wait in the lobby he called his lawyer called his brother and they brought me back in. He said I talked to my lawyer I told him he didn't give me tough enough terms he said Your terms are ridiculous they're inappropriate. I said yeah they would be if you don't have a brain in your head and if you don't have the cash you'd be correct. This is an all cash deal sir. Her dad's house is 18 years old. It's a well-built custom built house. I can tell that. He said okay.

[00:09:43] Well I was expecting more money and I looked him again in the eye and I said sir I give you everything I have. All of it. I don't have anything else Sir my voice cracked. The tears came this place is for me my wife and my unborn child after cry for no words because I was in the actors union.

[00:10:07] But not hard to say that when you really know it's true.

[00:10:15] You did have a baby.

[00:10:17] You let the emotions flow and close the deal well guess what. He countered me. He could have countered me at 96 because it appraised for 100 the appraisal was lowered to 89 he countered me at twenty six thousand dollars.

[00:10:36] I made sixty three thousand dollars. My first real estate deal by appraisal at 22 with no training no experience just guts chutzpah and ability to close.

[00:10:47] And what did your father-in-law say.

[00:10:49] We didn't tell. I waited until we moved into the house and I called him up and said you know the neighbors next door didn't even talk to really would like to meet you.

[00:11:15] We invited them to a barbecue at the party at the house next door and when he got there he said that driveways. Oh that's the house you wanted to buy. It was ridiculous. I said Yes Sir pull right there will be fine. No one is using that spot.

[00:11:31] I said No no don't go there. Come over here. I took him to my house and my wife was there making dinners. And the baby was in the living room in a bassinet. What are you doing. You crashing the house? You'll go to jail.

[00:11:48] I said I bought the house. No you didn't. Yes I did. I own it. It's mine and my wife's. he's just shaking his head all night and then I bought more properties he said to my wife don't buy any more properties he's out of control. That's OK. I switch to commercial.

[00:12:12] All right so what's the moral of this story for people out there. Because that was a different time before the Savings and Loan crisis. It doesn't matter the way you made the deal.

[00:12:28] No doesn't matter the bottom is did I have that kind of cash. Twenty two I used a loan from the Bank of America I just didn't require the contingency. I put up a thousand dollars and got a house worth a hundred.

[00:12:44] Good thing it didn't have termites.

[00:12:46] No it didn't. No it didn't.

[00:12:49] All right. So what's the moral of the story for all these screwballs out there sitting in a cubicle saying Man that guy's got guts. You know I couldn't do that.

[00:12:58] Yes you can. Yes you can because if you don't ask you don't get anything out of your comfort zone. If your first offer doesn't cause you to say oh gosh would they take that deal. You offered too much. And if your first offer is accepted by price in terms you left price or terms or both on the table in my opinion.

[00:13:20] Well pretty much for sure because who is going to take the deal or off the bat. They're probably like Oh my god I can't believe he offered that much.

[00:13:30] That's correct. You offered too much or gave them better terms or both.

[00:13:35] Have you ever gotten screwed over in business.

[00:13:37] I never had a commercial real estate go bad but I've been screwed over in JOBs I've had JOBs that went bad. I mean I had companies have collapsed underneath me literally.

[00:13:49] And I know some that we're not going to talk about.

[00:13:53] Well the bottom line is it was my turning point. Tom was this I was suddenly a single dad raising my three kids alone. My kids had lived through a lot. I needed to be with them so I called my boss and I said kids get out of school I quit. You can't quit. I need you. You're running everything. And I said I appreciate that but when the kids get out of school I quit now I flew to corporate headquarters before the kids got out of school and they gave me a three month hiatus and they gave me three months off with pay.

[00:14:25] But when it got through that I said I'm not coming back. So I walked they said you can't do this your daughter starts USC in the fall. Southern California are sometimes called universities spoil children. And your boys are going to follow suit. He'll have three kids in undergrad and graduate school USC. That's a lot of money it's 100 grand I said yeah. John MALONE doctor my boss is the chairman of board of TCI he said you need a job. I said John we're friends. He said yes we are you know I have a part time real estate business you know says Yeah. I said I know if you're half is good for you as you are for me you're probably okay.

[00:15:04] I said John you have a Ph.D. from Johns Hopkins and the best word you can come up for from my real estate portfolio is OK. What do you mean John can I level with you. Sure. I made more money last year part time than you paid me. After two minutes of silence he blurted out not including bonuses and stock options. I said yes including the bonuses. That's serious serious six figure money he said. You're going to be OK. I said I am. I walked out making more money part time than I was being paid for a job running Billions of dollars of real estate.

[00:15:44] What would you say were a couple of tips If somebody wanted to get into commercial real estate.

[00:15:50] The bottom line is they need to understand what it's all about they need to understand the terms be trained to understand what things like net operating income NOI cap rates and all those things. You also need to understand how it works how the financing works how the due diligence works how to write up a contract write up a contract is not just a legal document from my business perspective it's a marketing tool. I closed that guy the first one I wrote with no training whatsoever. I put down all cash for me and my wife my unborn child that's got nothing to do with the deal from his perspective everything from mine and to change his paradigm shift to give me what I wanted. He looked at my Eagle Scout pin on my lapel and I heard him tell his lawyers. He's an Eagle Scout. He's telling the truth. So I was dressed for the occasion. I was articulate enough to do what they do and have the guts to ask. and if you do that you can buy commercial property.

[00:16:54] Well that's a good point right there. Big Dog because you were dressed for the occasion. You didn't look like somebody. I mean you know you went to one of these weekends seminars. And it's going into the banker who's laughing at you because they know you just went to the seminar and you have no money no nothing.

[00:17:12] And I was wearing a three piece Nordstrom suit on sale and didn't pay retail for that either. Twice a year they have an annual sale and I get advice I just got advice from Joseph Banks. They have a sale and it's like half off. Why would you pay retail.

[00:17:35] Exactly. But you still should have tried to get them with the baby story. So you got any bizarre or funny stories or things that happened while you're doing this business.

[00:17:53] Yeah I do. I was at United Artists as their senior vice president representing them and trying to sell some of the portfolio of older theaters we had and I had a theater in Inglewood California sometimes called Inglehood by the airport. Well the gentleman called me up and said he was interested. He shows up he lives in Beverly Hills drove up in his Rolls-Royce Corniche convertible wearing a three thousand dollar custom made suit custom shirt and imported Italian shoes and a Rolex. Not the cheap one. And I said to him he said if you want to look at this properly you're going to do it my way I need you to look through every inch of it. I made him climb in the attic in a 3000 dollar suit. And he said you're not going to make me go up there. I said Yes I am. He said you're going to make me do this right. And I said Yes sir I am. And within six months we were friends. He bought another property from me and he paid retail full price on both of them.

[00:19:00] What was your thought pattern of why you would take some obviously ritzy rich guy and make him do that. Was that the bring him down to your level or to show him that you were going to be thorough or what was your thought with doing that.

[00:19:13] Kind of all of that. And the bottom line is I was in charge. And I wanted him to know that I knew what I was talking about every nuance of it. And so I showed him my expertise. Because over the time Tom I've been to a real estate broker in California for 35 years. I held a general contractor and engineering contractor's license in California and I built 2.8 million square feet of commercial real estate for United Artists and TCI and a million for me. So I've been this. I know what I'm talking about. So I made him go through it. And he respected me so much he did it.

[00:19:52] Yeah that was the better way than just saying that you did all this stuff you showed him.

[00:19:57] I didn't have to say any of it. I just showed him I knew what the hell I was talking about. I walked the walk and talk the talk. And I can help him make an intelligent informed business decision. The same thing I do with my mentees. I make it go through the hoops they need to.

[00:20:13] So what do you like best about working for yourself and what's the worst thing about working for you.

[00:20:17] Well the best thing working for myself is the fact that I don't have to travel to Europe China everything else I can be home with my wife. And you've met Rose after 11 years of being a single dad raising my kids alone. Because this business made it possible. You've met Jennifer. I talked to my kids and they've been successful at doing commercial real estate. I mean Jennifer was 27 years old and she bought a trucking journal of the 5 freeway. Nothing down 350,000 dollars below list price. And my younger son Jason bought a apartment building at 24 out of work. Changing jobs didn't have a J O B but he got the property financed because the property would allow him to get financing even though he didn't have a J O B. He couldn't have bought a house because residential loan application requires you to have a J O B. Not true with commercial. Is there enough money to service the debt of the operation to cover maybe a property manager. And more importantly from their perspective pay them maybe with a little cushion. And if it has that they're going to make you the loan you're not first second or third or fourth in line maybe fifth. It's the NOI, it's the debt service coverage ratio which is the extra cushion. It's the property with a rent with it with the assignment of rents and the property itself. That's all in front of you. All of it. You're fifth in line with the House you're number one your paycheck is number one. It's a different world.

[00:21:54] Now I got it. I've got to stop you here because this is not these weekend seminars you see from sometimes really big name scammers. I would say that suck you in and make you believe all this can happen but all they're trying to do is suck another fifty thousand dollars out of you for advanced training that never happen. So this is the real thing. This is somebody that's done this.

[00:22:22] What really crushes my soul and pisses me off. I don't think someone should have to give up their down payment and put all their credit cards at risk to be a commercial real estate investor which is why I don't charge 30 40 50 thousand dollars not even 10 grand. You should not have to give your down payment to some guru who pretends that he knows what he's talking about.

[00:22:50] And we're going to get to that in just a moment. But the training that you have but tell them what the worst part about working for yourself.

[00:22:58] Well I don't know that there is a worse part because the best part is I get to call my shots. I mean Rose I've been to Hawaii twice this year and we're taking it one more time before the end of the year. That's kind of fun.

[00:23:14] Shopping for commercial volcanoes?

[00:23:20] I canceled the big island in November because even though they're making more real estate which violates the rules. It's not making anymore. Rose doesn't feel comfortable going there so we're good we're going to go to Maui. We like Maui. We were Hawaii we're in Oahu. So we've done two islands just so far this year in the last three months and we're doing Maui next.

[00:23:44] So there is a downside. You have to suffer flying all the way to Hawaii.

[00:23:57] That was a business trip.

[00:23:59] Of course it was that's the way we work around the business that's for sure.

[00:24:04] And I looked at a lot of real estate and I made some offers.

[00:24:07] There you go. That's how it works. That's screwing the commute.

[00:24:13] You can't blame anybody else for your lack of success or failures. It's all on you. But if you're willing to learn and apply the training and the mentoring and you can have successes are so sweet and you don't have to worry about if the corporation going to be a big puppet for the corporation going to go broke.

[00:24:35] Yeah yeah. One swipe of the pen though the best really most conscientious employee people could be just wiped out.

[00:24:43] Yeah but that's not going to happen when you take action and you do the due diligence and you make the decision that you're going to do this smart.

[00:24:52] So there's still a lot of commercial property available.

[00:24:56] Well on one site alone Tom there's five hundred thousand listings and 240 million dollars of listings today. Just one site that I teach them about. And also I'll give him a secret hack. I'm not the biggest guru and Tom I have to thank you right now and make a little shout out to Tom. Tom has changed my life and helped me become an infopreneur not just having real estate but being an infopreneur And Tom has helped Rose and I my wife to do that.

[00:25:28] Tell them about her site. We're going to have her on here on a future episode but give them a briefing on what she's doing online.

[00:25:38] Well she has a wedding planning website for LDS brides and grooms people members of Mormon church. She has a number one visited site she has over five hundred thousand visitors a year. That's a lot and she has 400 pages of content. She's published 22 books on Amazon. Several of them are bestsellers. She's about to launch her course on doing online wedding planning and sending them e-mails and all those kinds of things. If you were a bride or a mom how would you like to have someone who has been doing this for 30 years looking over your shoulders and sent you an email every week or every month couple times saying here's what you need to do Now here's your timeline. Here's what you need to do by the way when you're talking to the vendors here's your questions you better ask. If you're going to do a DIY here's the things you need to know.

[00:26:33] Yeah there's a lot of things that can save a lot of stress for planning a wedding and time and money.

[00:26:42] You should be able to enjoy the party. Not be doing it.

[00:26:49] We'll have her on a future episode but tell about your training with what you have available.

[00:26:55] What we have is an Online course that I built based on Tom's training and so forth. We have 78 videos there live recordings or Camtasia videos and a combination of those. We have all the transcripts for each one of them. We have downloads with software that I've created with tools I've created to help you do what you need to do how to go through a contract line by line on all the various types of contracts for office buildings shopping centers apartment buildings you know the nuances of things like triple net lease for an office building where the tenants have to pay the property taxes insurance the maintenance and the repair that's never going to happen in a house. But it will happen in an office building. And when it comes to a shopping center not only did they pay all of that. They pay the common area maintenance and for a kicker in a big shopping center even strip shopping centers that tenant usually has to pay a percent of their rent. It's called percentage rent they're going to pay 3 4 5 percent of their sales. As additional kicker on top of the rent but I go through all those nuances.

[00:28:05] Does this work anywhere or just in California.

[00:28:10] Everywhere everywhere in the United States and around the world.

[00:28:13] Ok so a lot of these things can go into Canada or anywhere else.

[00:28:18] Absolutely. I've done deals done lots of deals in Canada I've had mentees from Canada. I had one mentee who bought a three million dollar office building. Now normally in an office building you have to put like 40 percent down which means he would have to put about one point two million dollars down. Now he's a bright guy CPA and everything else and CA but he owns six rental properties. But it was killing him just killing him because he had rental units to students. So I helped him buy it for 2.5 million dollars.

[00:28:54] We didn't buy the asset. We bought the corporation that owned it which had an existing financing in it. And his down payment was one point two million dollars it was 250,000 dollars. But the kicker in this deal was the property was killer. They had all triple net leases with the tenants paying the property taxes everything property taxes insurance maintenance utilities everything and it made Three hundred eleven thousand dollars. Triple net income. Every year. So ten months in the deal he had his money back. That's crazy. Are they all like that. No but I have someone do that.

[00:29:36] And this training is possible to do it. I mean Jason bought a 19 apartment and Jennifer bought a hundred 30000 square foot building. Somebody else on Vancouver Island they bought 57 units because I taught him my strategies for negotiating and so forth the running of contracts his total down payment. You know Vancouver. Vancouver Island victory is very expensive. Very nice out Campbell Island is even more expensive. He bought 57 units. His total down payment was two thousand dollars total. He sold it for millions and now he owns 47 units in Florida. And so he flies to Florida to see his grandchildren. His wife retired. He retired.

[00:30:22] Normally if I didn't know you well I didn't know you wouldn't be on here. But if I didn't know you I'd be calling B.S. on all of this stuff because it sounds too good to be true. Like a lot of the things I teach they just sound ridiculous until I teach how it really happens. People say Oh I see. Oh I get it now with that knowledge is where the value is.

[00:30:47] The value is to learn how to do that. Did I negotiate the deal for the guy in Canada with all the apartment buildings. No. I taught him how to do it. He learned my system. He did it on his own he told me about it after the fact.

[00:31:01] Yeah he went up there and said it's for my wife and my unborn child. I would use that one every time until it got old until there's three kids standing there. So anyway we'll have it in the show notes how to find so they can take this training anytime. They get to ask any questions or is there any any part where they can talk or get some answers.

[00:31:44] Under each video we have a question and answer or comment box. I personally answer all those questions every week. And on top of that we're throwing in a bonus of a phone coaching call with me. I hope you are doing their deals and do a deal analysis and structuring the deal. But the bottom line is that they can ask me questions. They get all the transcripts they get the downloads they get everything. It's complete turnkey. Everything I've learned over 35 years of doing commercial real estate. It's in the package and we went through it several times several renditions to figure out what it needed to have to make sure that covers everything. And as we have talked about Tom some people just offered an apartment course and then they want to charge you another five grand for their offices five grand for this five grand for that. Mine's all inclusive I have all major types of commercial real estate office buildings apartment buildings shopping centers strip shopping centers industrial self-storage and mobile home parks.

[00:32:54] Wow. Talk about comprehensive. All right so we're going to have how they access that in the show notes and we've got to take a brief message from our sponsor. And then when we come back I want you to tell them all what's a typical day look like for you and how you stay motivate.

[00:33:14] So folks do you know what colleges and universities are doing according to gradeinflation.com they're raising grade point averages to make it look like they're doing a better job of teaching when there's a mountain of evidence that says they aren't. So I want you to watch the eye opening higher education webinar at screwthecommute.com/47 to potentially save yourself and possibly your loved ones maybe your friends and neighbors too hundreds of thousands of dollars of debt when they go for higher education. So check that out.

[00:33:55] So back to the main event here. Big Dog. By the way folks big dog is an advisory board to me. You were a professor somewhere. He's been a trusted adviser to me on this school forever. Just can't thank him enough for that. I couldn't get that kind of you know you can find Ph.D. education people you know just swing a dead cat and you run into one but not somebody that has business savvy and that's what I appreciate Big Dog for so much. I kind of gave him that nickname because I've been a little bit teasing of PhDs because a lot of them never do anything they can just teach all the theory stuff. But he's the real big dog when he's a PhD. Tell them what's the typical day like for you and Rose and how do you stay motivated.

[00:34:53] Well it's easy to stay motivated when you know that you don't have to go to a J O B I don't have to get up put on my fancy suit and go down to an office building or hop on a plane and fly to Timbuktu and back and meet all those people and shleping around. I could be home with Rose or off in Hawaii with Rose we love Victoria. So we did a second honeymoon in Victoria right there by the Empress. We have time to go do things. Freedom time freedom and massive passive income that sets you apart from a lot of people.

[00:35:29] Most people because that's what everybody wants to do. They just got to take the gumption to get out of their comfort zone to go get it because it's available. My youngest daughter was six so she had a thyroid cancer so I said Rose you want to go there because she can't tell. She says she couldn't think of any more than five pounds back our two year old and when grand something was like 20.

[00:35:58] So she went and spent two weeks with the kids I had points so I said fly that's fun and we could pack up and go to Los Angeles for grandkids birthdays. That is really really the way you'd really want to have your life like as I get up in the morning when I want to. I used to get up early early early and these days I get a little later and Rose I have breakfast on the terrace in our backyard which is like a park there's two waterfalls right next to the table I set out I can hear and it's big waterfall gurgling and sit with Rose in the shade and have a nice day and start our day with a nice breakfast on the porch. We come back in.

[00:36:42] I check the emails from business partners I check for emails from my mentees. I respond to those and then time for us to have lunch. We either go out or whether Rose who's a gourmet cook fixes something or we have someone who was with us for a long time who made our breakfast and lunch but then she had her baby and now she's retired. That was kind of fun to not even have to do that but this is you know I check the bank account. Well actually I don't honestly I don't. Rose does. She checks the bank account while I'm checking out with mentees and we have time to work on stuff we want to do something for the church or for kids or grandkids or anything. Time freedom is huge and having the financial freedom to back it up and go and do whatever you need to do.

[00:37:32] It's truly a lifestyle business that's what they call it nowadays the lifestyle business.

[00:37:37] If you keep doing what you've been doing. You're not going to change anything.

[00:37:40] Well you know the big takeaway for me here that I just didn't really realise you know I've known you for a long time but about the fact that the property carries whether the deal works or not, not you. And so it does make it legitimate for people that aren't really totally flush with cash to be able to make it work.

[00:38:04] Jason had some money but he's 24 years old out of work didn't have a J O B. He talked this credit union into giving him a 75 percent loan.

[00:38:18] Oh yeah the cuckoo clock went off again because it's just so crazy for people to think that they could do this or go buy a big apartment building or a shopping centre or I imagine a trailer park or you know all the other things that you mentioned. So boy we really appreciate you coming on. Big Dog. That's really great. Take the time out to help our screwballs we call them screwballs here because us entrepreneurs are a screwy bunch in some ways but we sure love our lifestyle. That's for sure. So you have any parting thoughts for the screwballs out there on getting out of that cubicle and doing something big.

[00:39:03] If you don't take action to change your life now. Nothing's going to happen if you don't do it now when if you don't depend on the J O B you're going to be a lot better off in corporate America. Corporations close people get delisted off the New York Stock Exchange. People go bankrupt. I mean it happens all the time. The gentleman who I talked about who bought the property in Canada and Victoria area up he had a 150,000 dollar job as a consultant I said don't count on the arm of flesh don't count on the corporation. I know your company's been around for 75 years but what would happen he said I'd be screwed. I said exactly. So go out buy the property he did you know what. The day after he closed on the 57 units with two thousand dollars down his job J O B went away.

[00:39:55] Oh my goodness. Premonition.

[00:39:58] Yeah well it was pathetic I hope it wasn't prophetic. You need to start building your side business today.

[00:40:08] Yeah another thing I like about this is there's no cleaning toilets and no I can't pay the rent today. You know the baby's sick you know that kind of stuff from all the residents.

[00:40:20] Anyway this has been really great some great insights about how to do it how to make offers how to stand up for yourself and this whole new field that I didn't even realise that the credit didn't matter for this emerging stuff so you can do it. Everybody check out Dr. Haller's stuff in the show notes at screwthecommute.com/47 and please subscribe over to iTunes and leave a review now if it's a good review. Click good review button if it's a bad review the link's probably not going to work or it's going to go to somebody else's podcast. Thanks Big Dog PhD and we'll catch everybody on the next episode.

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