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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 3: All right, guys, welcome back. Ey L is still in Atlanta,

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Speaker 3: enjoying our time out here. And this is a this

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Speaker 3: is a very special episode for a few different yes, yes, yes,

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Speaker 3: so dal Freeman really, dal Freeman Senior, this is gonna

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Speaker 3: be an interesting conversation because so if your loyal listeners

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Speaker 3: are your leader, you know that we interviewed Swimming Husky.

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Speaker 3: Shout out to the whole team. So those guys have

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Speaker 3: a unique pizza operation that they're running, and they're from Nashville, Tennessee.

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Speaker 3: But now they have they have a shop in Memphis,

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Speaker 3: they have a couple of shops in Atlanta. They just

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Speaker 3: opened the Sacramento shop and that we were talking about.

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Speaker 3: You know that they're more than just restaurant tours there.

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Speaker 3: They have the real estate played behind it and all

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Speaker 3: of that. So when we did the episode, I guess

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Speaker 3: one of the guys have must forwarded to yeah, mister

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Speaker 3: Freeman and turns out that he's at one of their

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Speaker 3: mentors and business partners.

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Speaker 4: I just learned as well.

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Speaker 3: So that started the conversation of like, yo, yah should

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Speaker 3: interview him.

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Speaker 2: Was like he's the old Okay.

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Speaker 4: So it's like all.

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Speaker 3: Right, so keeping in the Nashville We've interviewed a few

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Speaker 3: people from Nashville.

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Speaker 4: Now out there we got snoop.

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Speaker 3: Right now, go to the plane part two.

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Speaker 2: You want to talk about first.

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Speaker 5: So this is the first time somebody flew into the

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Speaker 5: interview now commercial like literally like, hey, I'm leaving Tennessee

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Speaker 5: with my plane to fly to Atlanta right now.

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Speaker 4: He did. That's the first he did. He did.

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Speaker 3: He flew, he flew himself private plane to the airport,

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Speaker 3: did the interview, and then he's going Ferrari shop.

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Speaker 4: So it might be for this.

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Speaker 3: Dal Freeman so serial entrepreneur, founder of Zecon Zikon Computer

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Speaker 3: computer Services and is an IT company. He actually sold

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Speaker 3: to BG Staffing. I started in nineteen ninety one, sold

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Speaker 3: it in twenty seventeen for twenty three million dollars three million,

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Speaker 3: twenty three million.

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Speaker 4: You break it down for you, okay.

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Speaker 6: Twenty nineteen million cash making their stock and a three million.

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Speaker 3: Dollar okay, came to twenty twenty three million, has two

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Speaker 3: thousand dollars in it that you startarted with. That's a good,

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Speaker 3: great return, I know.

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Speaker 6: I mean there's a stock broke in here somewhere that

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Speaker 6: put those numbers.

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Speaker 3: Don't let that go over you, please don't, please don't.

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Speaker 3: He's also the co founder of Relyant Bank. He is

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Speaker 3: a real estate investor, big time real estate investor. He

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Speaker 3: is the co founder of Pinnacle Construction partners. He also

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Speaker 3: is a chairman of S three asset recycling solutions company.

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Speaker 3: Anything I'm missing, Troy uh. He has a two dollars

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Speaker 3: general he competed, he completed, not competed, completed ten iron

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Speaker 3: Man races.

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Speaker 4: Yes, I mean, and and he's a his stock investor.

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Speaker 2: So I think we got it all.

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Speaker 3: I'm trying to hit the table. So yeah, his reputation

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Speaker 3: precedes itself. So first and foremost having me thank you

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Speaker 3: for joining us. I was just about to say thank

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Speaker 3: you for joining us, no problem. So let's jump right

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Speaker 3: into it because this is an interesting conversation. I was

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Speaker 3: telling you, we've never had anybody that has sold their business.

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Speaker 3: We've had a couple of people that's been offered, you know, buyouts,

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Speaker 3: but they haven't taken it. So you've actually built, You

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Speaker 3: built a business, and then you sold the business, and

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Speaker 3: now you're in the process of actually helping other people

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Speaker 3: in teaching them that game.

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Speaker 4: Right, So can you.

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Speaker 3: Walk us through that that first process, because it's a

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Speaker 3: long process. From nineteen ninety one to twenty seventeen, that's

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Speaker 3: a long process. But how did what was that steps

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Speaker 3: into building that business and then selling that business?

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Speaker 6: So I started the company in the office the size

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Speaker 6: of a closet, with two thousand dollars in savings, my

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Speaker 6: wife's credit cords.

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Speaker 7: You're still married to it. Rights lost a couple of

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Speaker 7: credit cards a long way, but we got them back.

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Speaker 6: So it went from one person to about three hundred people.

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Speaker 6: And the main things that when you're building a business,

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Speaker 6: you want to build stability, You want to build you

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Speaker 6: want to get customs with long term contracts.

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Speaker 7: You want to create a history of.

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Speaker 6: Performance, and you want to build a business around people,

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Speaker 6: not around yourselves, around yourself. And so what happens most

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Speaker 6: of the times is the entrepreneur builds the business around

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Speaker 6: his or herself. And so I built the business from

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Speaker 6: nineteen ninety one to somewhere in two thousand and six

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Speaker 6: or seven. I built it from ten thousand and sales

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Speaker 6: to about sixteen million in sales. But I recognized that

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Speaker 6: I couldn't take it any further because I didn't have

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Speaker 6: the skill set. Oftentimes entrepreneurs are the CEOs because they

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Speaker 6: started the company, but they were really not qualified to

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Speaker 6: be the CEO. So I really wasn't qualified to be

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Speaker 6: the CEO. But since I owned off the stock, I

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Speaker 6: was the CEO. But I recognized one day when I

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Speaker 6: built this team of great people and the sales were

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Speaker 6: stagnant for a couple of years, I recognized it wasn't

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Speaker 6: the people that I built around me, that it was

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Speaker 6: me that was the problem. And so I fired myself.

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Speaker 6: So in building a business, don't build it around yourself.

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Speaker 6: Build it around people. Get loan, you know, be it

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Speaker 6: for long, long term contracts. Build it around people, established

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Speaker 6: long streams of revenue. So I fired myself and I

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Speaker 6: hired a CEO of a company that was one of

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Speaker 6: our competitors, and he had been with a company that

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Speaker 6: had gone from zero to over one hundred million, and

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Speaker 6: so I offered him the presidency of role at my company.

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Speaker 6: And so now you got this nice little package that

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Speaker 6: is not built around you that people are starting to

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Speaker 6: look at and say, man, I could buy that team

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Speaker 6: and that company. It's not Darell Freeman. It's actually a

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Speaker 6: company that stands on its own. So he took it

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Speaker 6: from sixteen million to about.

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Speaker 7: Forty million a year a year.

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Speaker 6: Okay, sixteen I'm sorry, sixteen million a year in revenue

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Speaker 6: to about forty million a year in revenue. Our conversations

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Speaker 6: would go like this. I would say, why don't we

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Speaker 6: try this? I was a chairman. He would say, he

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Speaker 6: would say back to me, when I tried that at

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Speaker 6: the other company, this is what happened.

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Speaker 7: So he came to the table with.

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Speaker 6: A bunch of experience, right, And so I built a

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Speaker 6: company around people got long term contracts. I had an

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Speaker 6: outstanding accounting department, because you need to have numbers. They

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Speaker 6: need to be they need to be numbers that are

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Speaker 6: all your TC's across all your ic to be dotted

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Speaker 6: every year. Even though I didn't have to. I got

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Speaker 6: a certified audit. I got all our numbers outed it

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Speaker 6: every year.

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Speaker 7: And so.

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Speaker 6: When we got to about forty million, we got it

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Speaker 6: was like a We got to forty million, but we

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Speaker 6: couldn't get any higher. And I recognized at that time

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Speaker 6: I had the forty million dollar team. I didn't have

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Speaker 6: the hundred million dollar team. It is before when I

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Speaker 6: was leading it, I had the sixteen million dollar team.

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Speaker 6: But for me to go from the forty million dollar

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Speaker 6: team to the hundred million dollar team, which was my

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Speaker 6: goal goal, I wouldn't need to replace those team members,

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Speaker 6: but those team members like family to me, and so

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Speaker 6: I decided at that point, as opposed to bring it

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Speaker 6: in a whole new team, that it was time to sell,

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Speaker 6: it was time to exit. And it was a perfect

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Speaker 6: point because many of our contracts were at the beginning

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Speaker 6: stages where they had their most value, and we had

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Speaker 6: a long history of stable customers that we had built,

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Speaker 6: and we had built it even though I'm an African American,

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Speaker 6: I did not build a black company.

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Speaker 7: I built a quality company. And so.

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Speaker 6: When you do that in the marketplace and you create

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Speaker 6: cash flow and consistent ebitdah, people recognized Green. So I

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Speaker 6: approached a a banker here in Atlanta and said, we're

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Speaker 6: interested in selling, and we talked about the business and

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Speaker 6: what it needs. You know, what needs to change in

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Speaker 6: the business, et cetera. Accept and I said, hey, I

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Speaker 6: can make those adjustments. And so we put the business.

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Speaker 6: We went through a process with the banker. Now, choosing

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Speaker 6: the banker is that's a very important decision because you

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Speaker 6: want to choose the best banker for your industry. So

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Speaker 6: I chose the best banker for the information technology staffing industry.

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Speaker 6: A banker that was selling two or three businesses a month.

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Speaker 6: I mean they were they knew who the buyers were,

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Speaker 6: they knew who was who would be interested. They knew

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Speaker 6: how my business should look.

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Speaker 2: And so how does that search process work?

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Speaker 5: Right, Like, if I'm a person that has I want

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Speaker 5: to sell the company, how do I know, like this

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Speaker 5: is the best person in the industry.

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Speaker 7: So I interviewed them.

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Speaker 4: Okay, I interviewed them.

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Speaker 6: So I wanted to see who was the best in

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Speaker 6: the business. So I called a couple of VC funds,

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Speaker 6: uh VC people and they said, well, if we're buying

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Speaker 6: a company, we normally will buy it from here. And

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Speaker 6: so we found a guy by the name Alan Bugler,

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Speaker 6: Child's advisor here in Atlanta.

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Speaker 7: He was terrific.

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Speaker 6: I mean he you know, he brought he brought the

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Speaker 6: So we put the package together. He brought the players

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Speaker 6: to potential buyers at the table, and we met with them,

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Speaker 6: had drinks with them, talk with them.

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Speaker 7: The first time.

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Speaker 6: The first offer was like fourteen million dollars, and I said, guys,

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Speaker 6: here's the other thing.

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Speaker 7: You gotta know what your value is. I knew that

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Speaker 7: wasn't the number.

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Speaker 2: You walked in with it in your mindset.

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Speaker 3: So how do you value Because all right, so if

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Speaker 3: you if you're making if the company is making forty

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Speaker 3: million a year gross gross, right, right, So how did

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Speaker 3: you decide? Because I always heard this like like was

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Speaker 3: it ten times the net that you're bringing in? Is

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Speaker 3: that like a rough hand.

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Speaker 7: No, So it varies, but it varies by industry.

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Speaker 6: So in the staffing business, at that time, business was

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Speaker 6: businesses were selling for anywhere from five to seven times

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Speaker 6: ebitdah and that uh, income before taxes, interest, appreciation and

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Speaker 6: some other.

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Speaker 4: Okay, that's happening.

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Speaker 6: So where they where they they.

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Speaker 7: Kind of level out.

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Speaker 6: You know, what the business is worth if you take

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Speaker 6: out if you take out what you paid in taxes,

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Speaker 6: what you paid out and depreciation, what you paid out

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Speaker 6: I think I said taxes, what you put out an interest,

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Speaker 6: and so it kind of puts the business on a

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Speaker 6: level playing field. So you strip all those things out

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Speaker 6: and find out what the actual cash flow of the businesses.

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Speaker 6: And so in our business, I sold it for about

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Speaker 6: five six times ibad.

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Speaker 7: Uh and so that's what it was true. That's a

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Speaker 7: lot of business was selling for.

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Speaker 6: Now I am now in the recycling business information technology

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Speaker 6: recycling business business. The multiple for ebadad sales for in

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Speaker 6: this business is eight to fourteen times, so it has

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Speaker 6: a chance to be way more valuable right than the

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Speaker 6: first one. And so that's how you so you took me.

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Speaker 6: You determine what your ebadat is and then you know

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Speaker 6: in the marketplace what we're trades at. And one way

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Speaker 6: you can do that is you can go to the

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Speaker 6: stock market and find an IT company. You look at

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Speaker 6: their stock and see where it's trading at the market cap,

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Speaker 6: and then you look at their ebadah. Then you can

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Speaker 6: capulate the multiple from that because what the market cap

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Speaker 6: is what the company is selling at.

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Speaker 3: So so you sold, all right, so five times what

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Speaker 3: you were kind of bringing in that for layman terms

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Speaker 3: kind of similar to that, similar to that, So you

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Speaker 3: knew you had that twenty million dollar number. So when

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Speaker 3: they came in fourteen the first offer, what was your

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Speaker 3: response like, was it a negotiation or what? Just like

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Speaker 3: fled out no good, okay, yah good? And how many

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Speaker 3: other offers came before that twenty million?

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Speaker 6: Officers came in different ranges And so sometimes people they

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Speaker 6: may offer you that, they may say, well, hey, we'll

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Speaker 6: give you fourteen million cash cash, we'll give you four

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Speaker 6: million of our stock and another four million in earnout.

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Speaker 6: So all I can about was cash, because if I

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Speaker 6: took your stock and they didn't do anything, and if

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Speaker 6: your stock is private, it's worseeness to me. Right, And

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Speaker 6: if I took four million in earnout, earnout means I

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Speaker 6: got to perform for a certain period of.

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Speaker 7: Time to get that. Well, I didn't want that.

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Speaker 6: I wanted the majority of the sale to be cash.

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Speaker 7: And so so the.

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Speaker 6: Nineteen million cash and a million of stock that was

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Speaker 6: publicly traded that actually doubled when I had it.

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Speaker 4: So and then we want to three million earnout.

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Speaker 2: Yeah, that's the part I'm thinking about. So the earn

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Speaker 2: out part, are you still working?

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Speaker 5: You sell the company, but you're still working, and you

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Speaker 5: have like things you need to meet, goals you need

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Speaker 5: to meet to reach the three million.

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Speaker 6: I'm gonna now, I'm gonna take you back to when

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Speaker 6: I fired myself and hire the person the earnout. So

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Speaker 6: it was nineteen million cash on April third and a

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Speaker 6: milligan stopped. Then a three million dollar earnout that was

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Speaker 6: over a two year period based on the company's performance. Right,

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Speaker 6: And so since I had a team in place, I

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Speaker 6: didn't have to go and do that performance. Because we

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Speaker 6: had a team in place that was running the company.

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Speaker 6: And when the when BG Staffing bought my company, I

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Speaker 6: explained to them that I had a CEO and a

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Speaker 6: great management team and that they ran the company that

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Speaker 6: I didn't. And so they put some targets out there

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Speaker 6: for us to hit, for the team to hit get

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Speaker 6: to the three million.

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Speaker 2: I have one hundred million dollar team, definitely the US.

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Speaker 7: They hit the numbers. I got the three million.

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Speaker 6: Now what I also did when I sold the company,

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Speaker 6: there was a there was a group of people that

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Speaker 6: had been with me for a long time.

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Speaker 4: Ask about that.

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Speaker 7: They built me for a long time.

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Speaker 6: And I had a good friend of mine who started

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Speaker 6: the company with me back in nineteen ninety one, who

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Speaker 6: had retired a whole bunch of years back. And so

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Speaker 6: I called them all into a room and I said,

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Speaker 6: you all have been with me for a long time.

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Speaker 6: I remember I just got the wire. And I said,

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Speaker 6: here's a check. Here's a check for you, a check

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Speaker 6: for you, a check for you, big checks that they

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Speaker 6: ain't never seen before. And then one individual has two

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Speaker 6: he had two small kids, and I said to him,

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Speaker 6: I said, I know why.

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Speaker 7: You're working, because he was my age. You know why

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Speaker 7: you're working.

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Speaker 6: You got two small kids. You're working because college fund,

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Speaker 6: et cetera, et cetera. I said, what I want you

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Speaker 6: to do is you go home to your wife and

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Speaker 6: you find out from her what it's going to take

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Speaker 6: to send your two kids to college. These kids for

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Speaker 6: eight ten years old. You go home and find out

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Speaker 6: what's going to take to send them to college. I'm

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Speaker 6: back tomorrow and let me know what that number is.

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Speaker 6: He went home, He came back, tell me what the

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Speaker 6: number was. I told myself, go in his office and

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Speaker 6: cut the check for that number. When you build a

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Speaker 6: business around people, you got to take care of your people,

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Speaker 6: and you got to realize that the people that are

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Speaker 6: on your team, they.

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Speaker 7: Are the ones that make the company valuable.

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Speaker 4: It's not you.

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Speaker 6: So you see all you see a bunch of companies

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Speaker 6: today where they built the companies around them themselves.

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Speaker 7: You can't grow that way. When everything has to flow

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Speaker 7: through you.

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Speaker 6: It's hard to grow, and it's not you're not building

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Speaker 6: value because if you want to go sell it, they

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Speaker 6: know that if you if you get hit by a

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Speaker 6: bus tomorrow, you that the party's over. But if you

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Speaker 6: build a team that has value.

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Speaker 5: Can we go back just for a second, because I'm thinking,

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Speaker 5: and I guess in twenty twelve, when you decided, like,

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Speaker 5: in order for this company to grow, I need to

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Speaker 5: set back to find myself. What's that process like? Is

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Speaker 5: it like a you have to like weigh these things

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Speaker 5: in the mirror. It's like, because I don't imagine this

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Speaker 5: is like an ego check or it's a humbling experience.

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Speaker 7: That's That's the other thing. You don't need to have

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Speaker 7: an ego as an entrepreneur. You have confidence, but you

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Speaker 7: don't need to have an ego. So I knew, now.

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Speaker 6: Mind you, at sixteen million a year, I had a

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Speaker 6: great lifestyle. I had a plane, but it wasn't I mean,

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Speaker 6: I had.

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Speaker 7: A little plane. It wasn't a plane I got now,

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Speaker 7: but I had a little plan.

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Speaker 2: I was thinking, like I had a car but okay,

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Speaker 2: But but.

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Speaker 7: It was a comfortable lifestyle.

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Speaker 6: But for the people around me to grow and to develop,

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Speaker 6: I needed to grow that company to help them grow

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Speaker 6: and develop.

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Speaker 2: You got you.

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Speaker 6: You know people that have been with you for ten years.

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Speaker 6: One start out as a junior accountant. For me to

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Speaker 6: need a CFO, I need to grow that company so

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Speaker 6: she could grow into that role. And so growing a

355
00:19:04,600 --> 00:19:08,080
Speaker 6: company for me was more so about the people than

356
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Speaker 6: the money. When when I sold the company, now I

357
00:19:13,880 --> 00:19:15,840
Speaker 6: told you I started with two thousands and savings.

358
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Speaker 7: My payroll was two My payroll was a million dollars every.

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Speaker 2: Two weeks in ninety one.

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Speaker 6: No, fifteen, sixteen, seventeen, it was a million dollars every

361
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Speaker 6: two weeks. It was about the people, and so we

362
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Speaker 6: ran a company that was about the people. I'm doing

363
00:19:39,840 --> 00:19:42,760
Speaker 6: the same thing with Street Recycling Solutions. It's about the people.

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Speaker 3: So when you walk away with the twenty million, a

365
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Speaker 3: couple questions I have about.

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Speaker 4: That, it's good, I assume.

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Speaker 7: So I'm gonna do it again way more.

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Speaker 3: I believe. I believe what is the strategy to mitigate taxes?

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Speaker 4: Is that? Or you just have because it's like ordinary

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Speaker 4: income right now?

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Speaker 6: No, it's not ordinary income. It's uh, it's tax capital games.

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Speaker 6: It's like a stock cap. Okay, but you do. But see,

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Speaker 6: you go through all that math in your head when

374
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Speaker 6: you set the number twenty million, and whatever the number

375
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Speaker 6: you set, you set that number in your head, and

376
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Speaker 6: then you go through. You meet with your turney and say,

377
00:20:20,680 --> 00:20:22,480
Speaker 6: this is what the deal looks like. You meet with

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Speaker 6: your accountant. This is what the deal's look deal looks like,

379
00:20:25,200 --> 00:20:27,960
Speaker 6: and then they tell you at the end of all

380
00:20:28,000 --> 00:20:30,280
Speaker 6: of that, what you're going to have. And then you

381
00:20:30,320 --> 00:20:32,359
Speaker 6: go to your wife and say, Okay, this is what

382
00:20:32,520 --> 00:20:35,919
Speaker 6: it's going to be, and you realize that you're set.

383
00:20:36,320 --> 00:20:38,960
Speaker 6: Like if you can't go out and do stupid stuff,

384
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Speaker 6: but if you go out and make reasonable investments, you're good.

385
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Speaker 6: Your kids are good. And if you make reasonable investments,

386
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Speaker 6: their kids are good. And so it wasn't a big

387
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Speaker 6: It wasn't a and for me, unlike somebody who gets

388
00:20:56,440 --> 00:21:01,360
Speaker 6: a big contract to play some sport, I had accumulated

389
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Speaker 6: over the years all the things that we had wanted,

390
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Speaker 6: you know what I mean, I didn't I didn't have

391
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Speaker 6: to go out and buy another house. We already had

392
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Speaker 6: a house. I need to go out and buy a

393
00:21:09,480 --> 00:21:11,320
Speaker 6: car if we already I mean, all the things that

394
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Speaker 6: we had wanted, all the we had ran it. We

395
00:21:13,880 --> 00:21:18,280
Speaker 6: had lived a pretty simple lifestyle. I mean, I had

396
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Speaker 6: to plane this big, but I could have afforded a

397
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Speaker 6: plane this big, but I didn't. And so that's the

398
00:21:24,920 --> 00:21:28,120
Speaker 6: other thing is stay in your lane. You always stayed

399
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Speaker 6: in our financial lane, even though our lane may have

400
00:21:30,200 --> 00:21:35,400
Speaker 6: been this big we lived in this part. So even

401
00:21:35,440 --> 00:21:37,239
Speaker 6: today I stay in my lane. People said, well, why

402
00:21:37,240 --> 00:21:39,920
Speaker 6: don't you buy jet? I ain't in my lane.

403
00:21:41,080 --> 00:21:41,920
Speaker 4: Yeah I got.

404
00:21:42,920 --> 00:21:44,840
Speaker 6: If I brought a jet I got, I might have

405
00:21:44,880 --> 00:21:47,919
Speaker 6: to think about the few costs I might have to

406
00:21:47,920 --> 00:21:48,479
Speaker 6: think about it.

407
00:21:48,520 --> 00:21:50,120
Speaker 7: The plane I got, Now I have to think about it.

408
00:21:51,320 --> 00:21:54,360
Speaker 3: And you stayed on what after you sold the company's

409
00:21:54,359 --> 00:21:56,239
Speaker 3: we still with him?

410
00:21:58,040 --> 00:21:58,240
Speaker 4: Yeah?

411
00:21:58,320 --> 00:22:00,800
Speaker 6: So I had a two year out, so to sign

412
00:22:00,840 --> 00:22:04,600
Speaker 6: a two year contract with them to be on their

413
00:22:04,600 --> 00:22:09,040
Speaker 6: team for two years. It turned into it's a It

414
00:22:09,040 --> 00:22:11,800
Speaker 6: turned into it turned out to be a great relationship

415
00:22:12,280 --> 00:22:19,320
Speaker 6: because their CEO and me similar attitudes towards people. That

416
00:22:19,400 --> 00:22:21,879
Speaker 6: the company is built on people, and so it's a

417
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Speaker 6: great partnership. So when they when the two years were over,

418
00:22:24,320 --> 00:22:27,520
Speaker 6: they said, let's do it again. And then three years came,

419
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Speaker 6: they said, let's.

420
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Speaker 7: Do it again.

421
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Speaker 2: Is it the same CEO that you brought in?

422
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Speaker 6: No, this is the CEO of the company that bought

423
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Speaker 6: my company. O. Now, the cool part about the people

424
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Speaker 6: that were.

425
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Speaker 7: On the people that were on my team.

426
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Speaker 6: Most of them are still there and they've taken on

427
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Speaker 6: more responsibilities.

428
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Speaker 7: So when this company went out and.

429
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Speaker 6: Bought other companies, they asked my CEO to run those companies.

430
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Speaker 2: Let's been ton, let's spend ton.

431
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Speaker 7: So so it's all about having the right people on

432
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Speaker 7: your team.

433
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Speaker 5: When when you had and correct me if I'm wrong,

434
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Speaker 5: did you you own the land that the company was

435
00:23:04,640 --> 00:23:09,159
Speaker 5: on or you know, because that's that's that's the other

436
00:23:09,200 --> 00:23:10,959
Speaker 5: play to it, because it's like, yeah, you stall the company,

437
00:23:11,280 --> 00:23:12,280
Speaker 5: but you're still on the land.

438
00:23:12,840 --> 00:23:17,960
Speaker 6: Yes, And so Zach Clark spent a number of years.

439
00:23:18,480 --> 00:23:18,639
Speaker 4: You know.

440
00:23:18,680 --> 00:23:20,760
Speaker 6: Well, first of all, at the beginning, I couldn't buy

441
00:23:20,840 --> 00:23:23,240
Speaker 6: anything right right, right right. We were paying our office

442
00:23:23,240 --> 00:23:25,200
Speaker 6: space one hundred and fifty square feet. Our rent was

443
00:23:25,240 --> 00:23:27,639
Speaker 6: one hundred and fifty dollars. Then I moved to the

444
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Speaker 6: National Business Incubation Center, where we stayed.

445
00:23:29,760 --> 00:23:30,919
Speaker 7: For five years.

446
00:23:31,440 --> 00:23:34,920
Speaker 6: Kind of a low rent incubator, help us grow kind

447
00:23:34,960 --> 00:23:39,120
Speaker 6: of place. Then when we left there, I bought a building, yeah,

448
00:23:39,800 --> 00:23:44,600
Speaker 6: in North Nashville over the other projects. And people are like, well,

449
00:23:44,600 --> 00:23:46,639
Speaker 6: why would you buy all? That's because I wanted to

450
00:23:46,680 --> 00:23:50,719
Speaker 6: be an inspiration to the people in this neighborhood and

451
00:23:50,760 --> 00:23:52,040
Speaker 6: so and.

452
00:23:51,960 --> 00:23:56,320
Speaker 7: Plus I bought the building. It's our building.

453
00:23:56,840 --> 00:24:00,240
Speaker 6: I'd rather have a place that I own in my

454
00:24:00,359 --> 00:24:05,280
Speaker 6: neighborhood or our neighborhood, then be renting at some twenty

455
00:24:05,359 --> 00:24:08,440
Speaker 6: five story office building in the middle of downtown.

456
00:24:09,400 --> 00:24:10,199
Speaker 7: I want to own it.

457
00:24:11,160 --> 00:24:13,760
Speaker 6: Where I grew up my family, there was five groups,

458
00:24:13,760 --> 00:24:16,719
Speaker 6: five families, my mom, her sisters.

459
00:24:17,119 --> 00:24:21,639
Speaker 7: We were all renters. I don't want to rent. I

460
00:24:21,640 --> 00:24:23,800
Speaker 7: don't want to rent. I don't want to read nothing.

461
00:24:24,000 --> 00:24:27,880
Speaker 7: I don't want to read a car. I don't want

462
00:24:27,880 --> 00:24:28,560
Speaker 7: to rent nothing.

463
00:24:28,920 --> 00:24:31,280
Speaker 6: And so, yeah, we bought the building, and then we

464
00:24:31,320 --> 00:24:33,520
Speaker 6: outgrew that building, but I kept it, and.

465
00:24:33,480 --> 00:24:36,400
Speaker 7: Now it's least we bought another building.

466
00:24:36,880 --> 00:24:37,479
Speaker 4: I kept it.

467
00:24:38,400 --> 00:24:40,240
Speaker 6: The company that bought my company stayed in it for

468
00:24:40,280 --> 00:24:46,160
Speaker 6: a year, paid me rent for a year, and then yeah.

469
00:24:44,800 --> 00:24:46,960
Speaker 2: That's amazing, that's incredible.

470
00:24:46,960 --> 00:24:48,840
Speaker 4: Love it. That's it. That's the key.

471
00:24:49,160 --> 00:24:51,520
Speaker 6: But I'll tell you a funny story about that building.

472
00:24:51,560 --> 00:24:55,240
Speaker 6: So they stayed in it for a year, and then

473
00:24:55,760 --> 00:24:58,520
Speaker 6: I decided it wasn't a good decision.

474
00:24:58,640 --> 00:24:59,919
Speaker 7: I decided I was going to sell it.

475
00:25:00,960 --> 00:25:04,280
Speaker 6: So I bought it for six hundred thousand, put three

476
00:25:04,359 --> 00:25:07,440
Speaker 6: hundred thousand dollars in it. So now I got nine

477
00:25:07,480 --> 00:25:10,920
Speaker 6: hundred thousand in it. I decided in twenty seventeen, after

478
00:25:11,000 --> 00:25:16,840
Speaker 6: two thousand twenty eighteen, seventeen eighteen that I was going

479
00:25:16,880 --> 00:25:19,119
Speaker 6: to sell that building. I put on them work for

480
00:25:19,160 --> 00:25:23,880
Speaker 6: two point four million, and a guy came and said,

481
00:25:23,920 --> 00:25:25,879
Speaker 6: I'll give you two million for it, take it or

482
00:25:25,960 --> 00:25:26,240
Speaker 6: leave it.

483
00:25:27,760 --> 00:25:32,679
Speaker 7: I didn't like the way he talked to me. I

484
00:25:32,720 --> 00:25:33,879
Speaker 7: told him to get lost.

485
00:25:35,400 --> 00:25:36,959
Speaker 6: He talked to me as though I needed to have

486
00:25:37,000 --> 00:25:39,359
Speaker 6: the that I need, like I needed the money, like

487
00:25:39,400 --> 00:25:42,399
Speaker 6: it was a desperate And then I got there thinking about, man,

488
00:25:43,880 --> 00:25:46,359
Speaker 6: all these years I've been buying real estate, why should

489
00:25:46,400 --> 00:25:50,360
Speaker 6: I start selling now? So now, my daughter on vacation

490
00:25:50,840 --> 00:25:52,800
Speaker 6: at our home in the Bahamas last week, she came

491
00:25:52,840 --> 00:25:55,159
Speaker 6: up with a new mission statement, which is the Freemans

492
00:25:55,160 --> 00:25:59,280
Speaker 6: ain't selling nothing no more real estate wise, that's our

493
00:25:59,359 --> 00:26:04,560
Speaker 6: new mission stake. We ain't selling nothing. State was because

494
00:26:05,000 --> 00:26:07,159
Speaker 6: real estate you think about when you have kids and

495
00:26:07,200 --> 00:26:08,240
Speaker 6: they have kids, and they have.

496
00:26:08,200 --> 00:26:11,440
Speaker 7: Kids, it's easily you could easily pass it down.

497
00:26:11,840 --> 00:26:15,000
Speaker 6: So yeah, so where was that Chrumbin was located the

498
00:26:15,000 --> 00:26:17,080
Speaker 6: corporate office now in our sellite office.

499
00:26:17,119 --> 00:26:18,719
Speaker 7: We didn't own those spaces all right.

500
00:26:18,760 --> 00:26:21,679
Speaker 5: So in that process, and I'm thinking, when does the

501
00:26:22,080 --> 00:26:23,760
Speaker 5: Pinnacle Construction Partners come in?

502
00:26:23,800 --> 00:26:26,399
Speaker 2: Because if you're buying the real estate and maybe you're building.

503
00:26:26,440 --> 00:26:28,840
Speaker 5: It was that the vision like I'm going to have

504
00:26:28,840 --> 00:26:31,360
Speaker 5: a construction company in the event that I body spaces.

505
00:26:31,440 --> 00:26:36,080
Speaker 6: No Pinnacle construction company came out of a large there

506
00:26:36,160 --> 00:26:39,840
Speaker 6: was a large convention center being built in Nashurally. I

507
00:26:39,880 --> 00:26:42,760
Speaker 6: can't think of the year that it was two thousand

508
00:26:42,760 --> 00:26:44,720
Speaker 6: and seven, two thousand and eight. And so me and

509
00:26:44,720 --> 00:26:47,439
Speaker 6: a friend of mine named Michael Carter, we pursued that

510
00:26:47,640 --> 00:26:52,760
Speaker 6: opportunity with another company, and the other company thought that,

511
00:26:53,040 --> 00:26:54,760
Speaker 6: you know, they thought that we started the company just

512
00:26:56,440 --> 00:26:58,679
Speaker 6: to be a part of that build process, to be

513
00:26:59,280 --> 00:27:01,680
Speaker 6: to be like the minority partner. And I said, I'm

514
00:27:01,720 --> 00:27:06,280
Speaker 6: not starting any businesses to be a minority partner, just

515
00:27:06,320 --> 00:27:08,360
Speaker 6: to be a minority partner. So we didn't win that deal,

516
00:27:09,400 --> 00:27:12,400
Speaker 6: but we hired a great CEO to run a company,

517
00:27:13,000 --> 00:27:13,600
Speaker 6: and then.

518
00:27:14,920 --> 00:27:16,360
Speaker 7: We didn't win that, But we want a whole bunch

519
00:27:16,359 --> 00:27:16,879
Speaker 7: of other things.

520
00:27:17,040 --> 00:27:19,040
Speaker 6: And so that business has been in business since two

521
00:27:19,080 --> 00:27:23,760
Speaker 6: thousand and seven and it's located in our building.

522
00:27:25,880 --> 00:27:28,040
Speaker 3: So yeah, So the Slim and Huskies play, like you said,

523
00:27:28,160 --> 00:27:31,320
Speaker 3: we talked about this with them. But Ray Krop and

524
00:27:31,359 --> 00:27:33,840
Speaker 3: the founders when he said that McDonald's when he felt, well,

525
00:27:33,920 --> 00:27:38,440
Speaker 3: somebody enlightened him, like McDonald's isn't a burger company, it's

526
00:27:38,440 --> 00:27:40,719
Speaker 3: a real estate company. So can you talk about that

527
00:27:40,800 --> 00:27:42,080
Speaker 3: just a little bit more like as far as how

528
00:27:42,119 --> 00:27:44,120
Speaker 3: you enlightened the guys and how that's your play where

529
00:27:44,119 --> 00:27:45,760
Speaker 3: it's like, even if you sell a business, you still

530
00:27:45,800 --> 00:27:48,320
Speaker 3: own the real estate and then that company will have

531
00:27:48,359 --> 00:27:51,040
Speaker 3: to pay you, so you still make money even if

532
00:27:51,040 --> 00:27:51,320
Speaker 3: you sell.

533
00:27:51,320 --> 00:27:52,320
Speaker 4: So you talk about that a little bit.

534
00:27:52,440 --> 00:27:55,600
Speaker 6: Yeah, So when I met the Slim and Huskies, guys,

535
00:27:56,800 --> 00:28:04,679
Speaker 6: first of all, brigant, process driven, way more process driven

536
00:28:05,119 --> 00:28:09,840
Speaker 6: than me. I mean, these guys are about the nuts

537
00:28:09,840 --> 00:28:12,639
Speaker 6: and the boats, the t's and crossing the t's and

538
00:28:12,720 --> 00:28:13,399
Speaker 6: dotting the eyes.

539
00:28:14,040 --> 00:28:17,760
Speaker 7: These guys are solid. And so when I met him,

540
00:28:17,880 --> 00:28:18,560
Speaker 7: we started talking.

541
00:28:18,600 --> 00:28:20,400
Speaker 6: I said, guys, you know, yes, you're in the piece

542
00:28:20,440 --> 00:28:23,280
Speaker 6: of business, but you're really in the real estate business,

543
00:28:24,080 --> 00:28:27,680
Speaker 6: whether you know that or not. And so why don't

544
00:28:28,200 --> 00:28:30,680
Speaker 6: you know, why don't we schedule some time to visit

545
00:28:30,760 --> 00:28:32,919
Speaker 6: my home in the Bahamas, will fly down on my plane,

546
00:28:33,720 --> 00:28:37,639
Speaker 6: talk about your strategy and where it is, and you know,

547
00:28:38,160 --> 00:28:39,600
Speaker 6: come up with a real estate play.

548
00:28:39,760 --> 00:28:40,080
Speaker 4: And so.

549
00:28:41,760 --> 00:28:45,040
Speaker 6: We did that, and so now we own three buildings

550
00:28:45,320 --> 00:28:48,040
Speaker 6: and we've signed long term leases with the operating company.

551
00:28:48,880 --> 00:28:52,280
Speaker 6: And so now they're running from themselves. I mean, and

552
00:28:52,400 --> 00:28:55,960
Speaker 6: it's a great play in the event somewhere down the

553
00:28:56,000 --> 00:28:57,960
Speaker 6: road fifty years, one hundred years, that they sell that

554
00:28:58,000 --> 00:29:00,360
Speaker 6: company and they still own the real est. They don't

555
00:29:00,400 --> 00:29:02,120
Speaker 6: have they don't have to sell the real estate. They

556
00:29:02,160 --> 00:29:05,280
Speaker 6: just sell the company and continue to get the rental income.

557
00:29:05,680 --> 00:29:09,560
Speaker 6: So they're making money twice, making money on the pizza

558
00:29:10,240 --> 00:29:13,800
Speaker 6: like McDonald's making money own the hamburger, and they're making

559
00:29:13,800 --> 00:29:16,520
Speaker 6: money on the real estate like McDonald's making real estate.

560
00:29:16,640 --> 00:29:19,360
Speaker 6: So when you see a McDonald's franchise z that don't

561
00:29:19,400 --> 00:29:23,480
Speaker 6: own the real estate, I mean, they're just McDonald's is

562
00:29:23,520 --> 00:29:27,560
Speaker 6: sending them supplies for burgers to sell so that they

563
00:29:27,560 --> 00:29:29,200
Speaker 6: can pay McDonald's rent.

564
00:29:29,840 --> 00:29:31,920
Speaker 7: I mean that's I.

565
00:29:31,880 --> 00:29:35,320
Speaker 3: Mean that they have to pay the defeat, which is

566
00:29:35,320 --> 00:29:37,160
Speaker 3: like a million dollars something like that, just to open

567
00:29:37,160 --> 00:29:39,640
Speaker 3: the franchise, and they have to pay the rent.

568
00:29:40,160 --> 00:29:42,560
Speaker 6: And then McDonald's every so many years can come to

569
00:29:42,600 --> 00:29:44,920
Speaker 6: you and say, hey, we really don't like this location

570
00:29:45,040 --> 00:29:48,400
Speaker 6: no more. We're gonna shut this location down. You are

571
00:29:48,440 --> 00:29:50,120
Speaker 6: a business, but if you don't own the real estate.

572
00:29:50,400 --> 00:29:51,920
Speaker 6: I mean, but if you own the real estate, you

573
00:29:51,920 --> 00:29:54,360
Speaker 6: can say, okay, McDonalds, y'all, you all can go. I'm

574
00:29:54,360 --> 00:29:57,440
Speaker 6: gonna put something else in here. That's why I like

575
00:29:57,480 --> 00:29:59,840
Speaker 6: owning everything everything.

576
00:30:01,240 --> 00:30:05,160
Speaker 3: So talk about that triple net lease. What is a

577
00:30:05,200 --> 00:30:06,080
Speaker 3: triple net lease?

578
00:30:06,480 --> 00:30:09,760
Speaker 6: A triple net least, I'll give you, as I told

579
00:30:09,800 --> 00:30:11,760
Speaker 6: you guess before when I walked in. I don't talk

580
00:30:11,800 --> 00:30:15,600
Speaker 6: about anything that I hadn't done. So triple at least

581
00:30:15,920 --> 00:30:19,680
Speaker 6: triple at leases. So a tripple at least is For example,

582
00:30:20,000 --> 00:30:24,920
Speaker 6: I owned a couple of Dollar General stores. Right, I

583
00:30:25,000 --> 00:30:27,880
Speaker 6: owned the building. I don't own the operations, own the

584
00:30:27,920 --> 00:30:31,800
Speaker 6: building and the land. Right so I signed at the

585
00:30:31,840 --> 00:30:35,280
Speaker 6: time the leases were twelve years. That twelve years remaining

586
00:30:35,400 --> 00:30:39,959
Speaker 6: with option for another twenty years after the twelve and

587
00:30:40,040 --> 00:30:43,520
Speaker 6: so in that lease agreement it says that Dollar General

588
00:30:43,880 --> 00:30:47,480
Speaker 6: is responsible for the maintenance. So if there's something goes

589
00:30:47,520 --> 00:30:49,920
Speaker 6: wrong with the building of waterline break.

590
00:30:51,520 --> 00:30:52,200
Speaker 2: Erness, what's up?

591
00:30:52,280 --> 00:30:54,760
Speaker 5: You ever walk into a small business and everything just

592
00:30:54,920 --> 00:30:58,080
Speaker 5: works like the checkout is fast, the receipts of digital

593
00:30:58,600 --> 00:31:01,600
Speaker 5: tipping is a breeze, and you're out the door before

594
00:31:01,600 --> 00:31:05,760
Speaker 5: the line even builds odds are they're using Square. We

595
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596
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597
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Speaker 5: at a pop up market, or even one of our

598
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599
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Speaker 5: manage inventory, and run their business with confidence, all from

600
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Speaker 5: one simple system. If you're a business owner or even

601
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602
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603
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Speaker 6: Proof get damaged. They're responsible for paying that. They're also

639
00:33:47,080 --> 00:33:51,160
Speaker 6: responsible for paying the taxes. So if the taxes go

640
00:33:51,280 --> 00:33:54,479
Speaker 6: up from ten thousand dollars this year to twenty thousand

641
00:33:54,480 --> 00:33:58,080
Speaker 6: next year, they're responsible for the taxes, and they're also

642
00:33:58,200 --> 00:34:00,400
Speaker 6: responsible for paying the insurance.

643
00:34:00,880 --> 00:34:03,680
Speaker 7: Triple net leaks. They're going to pay for the maintenance,

644
00:34:03,800 --> 00:34:06,480
Speaker 7: the insurance, and the taxes. You're going to get every

645
00:34:06,520 --> 00:34:07,520
Speaker 7: mind it's a check.

646
00:34:07,760 --> 00:34:09,000
Speaker 4: So why would somebody do that?

647
00:34:09,040 --> 00:34:11,920
Speaker 3: Because it's like to my brain, at least the landlord

648
00:34:11,960 --> 00:34:14,240
Speaker 3: is not what is The landlord is not responsible.

649
00:34:13,800 --> 00:34:15,960
Speaker 7: For anything nothing. I'm not responsible for anything.

650
00:34:16,000 --> 00:34:17,680
Speaker 4: Why would the tenant? Why would a tenant do that?

651
00:34:17,680 --> 00:34:21,759
Speaker 6: The market allows that, I mean they they they all

652
00:34:21,840 --> 00:34:23,680
Speaker 6: their stores are triple that least. So when you look

653
00:34:23,719 --> 00:34:27,839
Speaker 6: at the Walgreens or Dollar General, a lot of them

654
00:34:27,880 --> 00:34:29,480
Speaker 6: have triple net least triple that leases.

655
00:34:29,560 --> 00:34:32,560
Speaker 2: Those locations have to play into that in that process well.

656
00:34:32,760 --> 00:34:35,000
Speaker 6: And so in the case of Dollar General, they picked

657
00:34:35,040 --> 00:34:37,920
Speaker 6: their locations where they want to be and oftentimes they

658
00:34:37,920 --> 00:34:41,520
Speaker 6: don't hire a developer to go build a building right

659
00:34:41,560 --> 00:34:45,319
Speaker 6: where they wanted, and then an investor like me will

660
00:34:45,360 --> 00:34:50,000
Speaker 6: come and buy the building from the developer. So Dollar

661
00:34:50,080 --> 00:34:53,680
Speaker 6: General owns a bunch of they don't I'm sorry, they

662
00:34:53,719 --> 00:34:56,439
Speaker 6: have a bunch of stores that they least they don't own.

663
00:34:57,640 --> 00:34:58,000
Speaker 4: M hm.

664
00:34:58,760 --> 00:35:04,319
Speaker 6: So there model is not like McDonald's.

665
00:35:03,000 --> 00:35:06,560
Speaker 3: Like even Walmart. Don't think Walmart owned they did you

666
00:35:06,560 --> 00:35:09,120
Speaker 3: think about this? They just leased to space.

667
00:35:08,960 --> 00:35:09,480
Speaker 4: Least to space.

668
00:35:09,640 --> 00:35:13,040
Speaker 6: So for example, uh Me and some French coach founded

669
00:35:13,080 --> 00:35:15,239
Speaker 6: the bank. We started the process in two thousand and four.

670
00:35:15,680 --> 00:35:19,040
Speaker 6: We opened a bank in two thousand and six. The

671
00:35:19,080 --> 00:35:21,759
Speaker 6: first two buildings that we built for the bank, we

672
00:35:21,840 --> 00:35:25,120
Speaker 6: owned them. And so I mean we put that as

673
00:35:25,120 --> 00:35:28,759
Speaker 6: a part of the perspectives that the board, some of

674
00:35:28,800 --> 00:35:33,080
Speaker 6: the board members will owned the buildings. So we owned

675
00:35:33,120 --> 00:35:35,799
Speaker 6: the buildings for the first several years. And then once

676
00:35:35,840 --> 00:35:40,560
Speaker 6: we went public that that transaction, we needed to sell

677
00:35:40,600 --> 00:35:43,440
Speaker 6: the buildings because it looked like we were we had

678
00:35:43,480 --> 00:35:45,640
Speaker 6: both our hands and.

679
00:35:45,400 --> 00:35:45,920
Speaker 7: You know we were.

680
00:35:46,320 --> 00:35:49,920
Speaker 6: It didn't look well to the public guy because now

681
00:35:49,920 --> 00:35:52,920
Speaker 6: we became a public company. You know, you don't want

682
00:35:52,960 --> 00:35:55,680
Speaker 6: to be on the board and getting a check from

683
00:35:55,680 --> 00:35:59,479
Speaker 6: the bank for rent and so. But initially we before

684
00:35:59,520 --> 00:36:02,319
Speaker 6: when we were private, we own the buildings, two of

685
00:36:02,360 --> 00:36:02,920
Speaker 6: the buildings.

686
00:36:03,360 --> 00:36:06,440
Speaker 2: So the CEO of the Dollar Generals that you own

687
00:36:06,520 --> 00:36:07,440
Speaker 2: is Rod McDaniel.

688
00:36:08,560 --> 00:36:12,040
Speaker 6: No, no, no, no, se I don't remember, yeah, because

689
00:36:12,120 --> 00:36:16,959
Speaker 6: I'm thinking think about this. Yeah, I own two dollars

690
00:36:17,000 --> 00:36:22,640
Speaker 6: general stores. I do nothing with operations, Okay, I'm not

691
00:36:22,680 --> 00:36:27,320
Speaker 6: responsible for anything, nothing but going to the mailbox on

692
00:36:27,480 --> 00:36:31,400
Speaker 6: the thirtieth to get the checks. When you sign a

693
00:36:31,440 --> 00:36:33,920
Speaker 6: trip on at least you're responsible for You're not responsible

694
00:36:33,960 --> 00:36:37,600
Speaker 6: for responsible for anything. So there's the CEO of Dollar General,

695
00:36:37,680 --> 00:36:41,480
Speaker 6: some man or woman in Nashville that's running one hundred

696
00:36:41,480 --> 00:36:44,520
Speaker 6: dollars general stores and they're sending a checkout to each

697
00:36:44,600 --> 00:36:46,600
Speaker 6: Dollar General store owner every month.

698
00:36:47,400 --> 00:36:49,560
Speaker 7: But they're doing they're managing the operations.

699
00:36:49,920 --> 00:36:50,120
Speaker 4: Yeah.

700
00:36:50,160 --> 00:36:52,359
Speaker 5: No, So I was saying from the standpoint of like

701
00:36:52,400 --> 00:36:54,399
Speaker 5: when you did that Donald Generaldsdal and even the slim

702
00:36:54,520 --> 00:36:57,560
Speaker 5: Huskys things. The people that you're working with are guys

703
00:36:57,560 --> 00:37:01,160
Speaker 5: that you've been mentoring, Yes, right, and so, and one

704
00:37:01,200 --> 00:37:04,040
Speaker 5: of the toughest things to do in starting a business

705
00:37:04,120 --> 00:37:07,200
Speaker 5: is getting funding and so like yeah, it is you

706
00:37:07,320 --> 00:37:12,319
Speaker 5: kind of you know, streamlined that process by creating Aliant Bank, yes,

707
00:37:12,440 --> 00:37:15,000
Speaker 5: and so like now when you have your mentors and

708
00:37:15,000 --> 00:37:17,840
Speaker 5: they want to start a business, it's like, hey, I

709
00:37:17,840 --> 00:37:18,880
Speaker 5: got a place for you guys.

710
00:37:19,200 --> 00:37:21,799
Speaker 2: Can you talk about like the thought process behind that or.

711
00:37:21,960 --> 00:37:25,920
Speaker 6: So starting the bank, it was starting the bank was

712
00:37:26,480 --> 00:37:28,800
Speaker 6: a unique opportunity. A friend of mine named Farzane for

713
00:37:28,880 --> 00:37:30,640
Speaker 6: those in the van or came to me and said, Hey,

714
00:37:30,680 --> 00:37:33,240
Speaker 6: we're looking at starting the bank. Would you be interested

715
00:37:33,280 --> 00:37:35,480
Speaker 6: in being and being involved with it? And I said,

716
00:37:35,640 --> 00:37:38,879
Speaker 6: I said yes, And I said, this is how much

717
00:37:38,920 --> 00:37:40,719
Speaker 6: capital you need to have to put into the bank

718
00:37:40,760 --> 00:37:43,160
Speaker 6: to help get the started. And at the time, I

719
00:37:43,200 --> 00:37:46,520
Speaker 6: think it was two hundred thousand dollars in investment from

720
00:37:46,560 --> 00:37:49,960
Speaker 6: all the members and minimum. And so I did that.

721
00:37:50,960 --> 00:37:54,480
Speaker 6: But the the cool part about that is when you

722
00:37:54,800 --> 00:37:57,760
Speaker 6: have influence or ownership or co founder of a bank,

723
00:37:59,120 --> 00:38:03,440
Speaker 6: you can make certain things happen. Now it's got to

724
00:38:03,600 --> 00:38:05,840
Speaker 6: I mean, people have got to be credit worthy. But

725
00:38:05,880 --> 00:38:09,480
Speaker 6: so much in banking has to do with relationships and

726
00:38:09,560 --> 00:38:12,880
Speaker 6: who you know and understanding the process of how loans

727
00:38:12,880 --> 00:38:16,279
Speaker 6: are done. And so since I've been at Relife Bank,

728
00:38:16,360 --> 00:38:20,480
Speaker 6: they've never told me no every So when I was

729
00:38:20,680 --> 00:38:22,960
Speaker 6: go out and do deals. I knew that I knew

730
00:38:22,960 --> 00:38:26,120
Speaker 6: how to structure the deal to how the bank would

731
00:38:26,160 --> 00:38:28,319
Speaker 6: like it, and we go out and do deals. And

732
00:38:28,360 --> 00:38:32,279
Speaker 6: then with my protege, it's like the slim and husky guys. Uh,

733
00:38:32,600 --> 00:38:34,520
Speaker 6: just walk the walk them into the back and say, hey,

734
00:38:35,400 --> 00:38:38,839
Speaker 6: these are good people. These guys are good people. They're

735
00:38:38,880 --> 00:38:42,959
Speaker 6: going places, they're smart, they know what they're doing. Let's

736
00:38:42,960 --> 00:38:43,720
Speaker 6: give them a shot.

737
00:38:44,560 --> 00:38:47,239
Speaker 5: So after that happens, it's like a border approval and

738
00:38:47,280 --> 00:38:48,000
Speaker 5: things like that happen.

739
00:38:48,080 --> 00:38:52,440
Speaker 6: So Uh, each bank, each bank works differently, but depending

740
00:38:52,480 --> 00:38:53,759
Speaker 6: on the size of the bank, you can have an

741
00:38:53,760 --> 00:38:57,239
Speaker 6: executive loan committee. So maybe me, you, the three of

742
00:38:57,320 --> 00:39:01,000
Speaker 6: us on the loan committee, and then you got the

743
00:39:00,000 --> 00:39:04,360
Speaker 6: the loan officer. She will bring the loan to us

744
00:39:04,960 --> 00:39:07,080
Speaker 6: and we will review it and decide whether we're going

745
00:39:07,120 --> 00:39:10,520
Speaker 6: to fund it or not. But since I am pour

746
00:39:10,640 --> 00:39:13,040
Speaker 6: owner of the bank or co founder of the bank,

747
00:39:13,960 --> 00:39:15,680
Speaker 6: I know exactly what they're looking for.

748
00:39:16,280 --> 00:39:18,480
Speaker 7: And I also have one of the things.

749
00:39:18,600 --> 00:39:20,920
Speaker 6: One of the five seeds of credit or five seas

750
00:39:20,920 --> 00:39:24,080
Speaker 6: of banking to get a loan is character. And if

751
00:39:24,080 --> 00:39:27,160
Speaker 6: I vouch for your character, you may have some deficits

752
00:39:27,200 --> 00:39:29,600
Speaker 6: in your credit. You may not have any cash or

753
00:39:29,600 --> 00:39:32,480
Speaker 6: not enough collateral, but if somebody will vouch for your character,

754
00:39:32,880 --> 00:39:35,200
Speaker 6: that will go a long way. And here's the thing

755
00:39:35,200 --> 00:39:39,240
Speaker 6: that here's what I tell small business people all the time.

756
00:39:41,120 --> 00:39:43,640
Speaker 6: Even if you don't have a banking you don't have

757
00:39:43,680 --> 00:39:45,200
Speaker 6: a loan with a bank, or you don't need a

758
00:39:45,239 --> 00:39:48,640
Speaker 6: loan with the bank, what you should do, at least quarterly,

759
00:39:48,680 --> 00:39:51,480
Speaker 6: you should have three bankers that you take out the

760
00:39:51,560 --> 00:39:56,240
Speaker 6: lunch just to get to know them and just explain

761
00:39:56,320 --> 00:39:59,160
Speaker 6: to them what your business is. Even if you don't

762
00:39:59,200 --> 00:40:02,960
Speaker 6: need any money, explain to them what your business is

763
00:40:03,520 --> 00:40:05,279
Speaker 6: so that you all can get to know each other.

764
00:40:06,200 --> 00:40:09,400
Speaker 6: Because people do business with whom they like, and for

765
00:40:09,480 --> 00:40:12,279
Speaker 6: them to like you, they've got to know you. So

766
00:40:12,440 --> 00:40:16,879
Speaker 6: banking is very personal. That's why that's why you know, uh,

767
00:40:17,520 --> 00:40:19,919
Speaker 6: John can called the bank and say, hey, John, Hey,

768
00:40:19,960 --> 00:40:21,759
Speaker 6: I want you to this is John. I want you

769
00:40:21,760 --> 00:40:23,399
Speaker 6: to know my friend Jim is coming to the bank

770
00:40:23,440 --> 00:40:29,239
Speaker 6: for a loan. This is his relationship. And so I

771
00:40:29,360 --> 00:40:33,560
Speaker 6: tell I tell you know, young folks who are if

772
00:40:33,600 --> 00:40:35,399
Speaker 6: you're not trying to get a bank relationship, if you're

773
00:40:35,440 --> 00:40:38,319
Speaker 6: not trying to get a loan, take some time and

774
00:40:38,320 --> 00:40:39,120
Speaker 6: build a relationship.

775
00:40:40,360 --> 00:40:40,799
Speaker 2: That's right.

776
00:40:42,480 --> 00:40:45,200
Speaker 3: So what what was the process of you actually like

777
00:40:45,280 --> 00:40:47,399
Speaker 3: developing that bank, Like was just a bunch of cars

778
00:40:47,400 --> 00:40:49,200
Speaker 3: coming together and say okay, we want to build a

779
00:40:49,239 --> 00:40:52,400
Speaker 3: bank by an existing bank and just renamed it.

780
00:40:52,440 --> 00:40:53,399
Speaker 4: Like I'm sure there's a lot.

781
00:40:53,280 --> 00:40:57,640
Speaker 6: Of yeah, it's it's uh So I wasn't the brains

782
00:40:57,640 --> 00:40:59,840
Speaker 6: behind the bank. I would say I was in. I

783
00:40:59,880 --> 00:41:03,799
Speaker 6: was an investor in the bank. You know, I went

784
00:41:03,800 --> 00:41:07,399
Speaker 6: through the entire process of getting the charter raise, helping

785
00:41:07,560 --> 00:41:11,000
Speaker 6: raise the money, putting the money in, helping to hire

786
00:41:11,040 --> 00:41:14,719
Speaker 6: the management team. Because to start the bank, you know,

787
00:41:14,600 --> 00:41:16,719
Speaker 6: you got to go to the state and let it

788
00:41:17,200 --> 00:41:19,080
Speaker 6: give them a business plan, and then you got to

789
00:41:19,080 --> 00:41:21,239
Speaker 6: tell them who you're going to hire, and then you

790
00:41:21,280 --> 00:41:23,000
Speaker 6: gotta tell them how much money you're planning to raise.

791
00:41:23,239 --> 00:41:24,759
Speaker 6: And then you got to go hire those people. Even

792
00:41:24,800 --> 00:41:26,839
Speaker 6: though you don't have any money. You got to go high.

793
00:41:26,920 --> 00:41:28,680
Speaker 6: You got to raise a little bit of money, see

794
00:41:28,719 --> 00:41:31,120
Speaker 6: money to hire the hire the team. And then you

795
00:41:31,160 --> 00:41:33,160
Speaker 6: go back to the state and say, hey, I've hired

796
00:41:33,160 --> 00:41:35,759
Speaker 6: this management team. Here are our processes and procedures. And

797
00:41:35,800 --> 00:41:38,040
Speaker 6: then the state will say, okay, we like your team,

798
00:41:38,080 --> 00:41:40,640
Speaker 6: we like your processes. You said you're going to raise

799
00:41:40,640 --> 00:41:43,239
Speaker 6: twenty million dollars, go back up and raise, get the

800
00:41:43,280 --> 00:41:45,160
Speaker 6: twenty million dollars, put it in an escrow, and then

801
00:41:45,200 --> 00:41:45,959
Speaker 6: come back to us.

802
00:41:46,960 --> 00:41:47,759
Speaker 7: And all the.

803
00:41:47,760 --> 00:41:50,880
Speaker 6: Time you're paying those people that you've hired, but you

804
00:41:51,280 --> 00:41:54,080
Speaker 6: hadn't opened the bank yet. You go back to the

805
00:41:54,080 --> 00:41:56,680
Speaker 6: state and say, hey, we've We've got the money we

806
00:41:56,680 --> 00:41:57,720
Speaker 6: said we're going to raise.

807
00:41:58,280 --> 00:41:59,160
Speaker 7: It's in the escrow.

808
00:41:59,320 --> 00:42:01,200
Speaker 6: And then the state said, okay, we'll give you a

809
00:42:01,360 --> 00:42:04,719
Speaker 6: charter to start the bank in our case January six,

810
00:42:05,080 --> 00:42:08,720
Speaker 6: two thousand and six. And then it's not that simple,

811
00:42:08,719 --> 00:42:11,600
Speaker 6: but that's kind of yeah, but it takes money.

812
00:42:12,280 --> 00:42:13,440
Speaker 4: Yeah, that's the fact.

813
00:42:14,880 --> 00:42:17,520
Speaker 3: So outside of everything else that you need to know

814
00:42:17,560 --> 00:42:20,040
Speaker 3: your your stock investor as well. Yes, he was telling

815
00:42:20,120 --> 00:42:22,399
Speaker 3: us that you you brought Apple at a crazy price

816
00:42:22,520 --> 00:42:23,959
Speaker 3: years ago.

817
00:42:24,840 --> 00:42:25,400
Speaker 2: Screenshot.

818
00:42:25,400 --> 00:42:28,920
Speaker 3: It's really so can you can you talk about that?

819
00:42:28,920 --> 00:42:30,759
Speaker 3: As far as I know you said your value long

820
00:42:30,880 --> 00:42:33,759
Speaker 3: term investor, but how important is it to diversified and

821
00:42:33,800 --> 00:42:36,279
Speaker 3: not put all your in one basket? And yeah, can

822
00:42:36,320 --> 00:42:39,560
Speaker 3: you talk about like what inspired you to purchase Apple

823
00:42:39,600 --> 00:42:42,600
Speaker 3: into two thousand and seven?

824
00:42:42,840 --> 00:42:45,080
Speaker 7: I got on my phone, Yeah, I got you got

825
00:42:45,160 --> 00:42:45,879
Speaker 7: I got it in my mind.

826
00:42:45,920 --> 00:42:47,960
Speaker 6: It was two thousand that was on will on vacation

827
00:42:48,080 --> 00:42:50,799
Speaker 6: and they won't vacation in France, and what you said

828
00:42:50,840 --> 00:42:53,520
Speaker 6: it wasn't sleep. And I was up on the computer

829
00:42:54,040 --> 00:43:00,440
Speaker 6: buying stock. But I like buying stock in companies that

830
00:43:01,080 --> 00:43:04,319
Speaker 6: I see in use all the time. You all talked

831
00:43:04,360 --> 00:43:07,239
Speaker 6: about this. I mean, if you if you're on your

832
00:43:07,239 --> 00:43:10,000
Speaker 6: Apple phone all the time and you don't own Apple,

833
00:43:11,440 --> 00:43:12,800
Speaker 6: that's a problem.

834
00:43:12,960 --> 00:43:14,560
Speaker 7: I mean, if you mean, if you.

835
00:43:14,520 --> 00:43:16,920
Speaker 6: If you got Amazon boxes stacked all over your house

836
00:43:17,360 --> 00:43:20,640
Speaker 6: and you ain't you don't own Amazon, that's a problem.

837
00:43:20,680 --> 00:43:23,920
Speaker 6: And I don't own Amazon's. But if you using if

838
00:43:23,960 --> 00:43:26,480
Speaker 6: you got Nike shoes and niked its like in that.

839
00:43:27,160 --> 00:43:29,759
Speaker 6: So I try to buy companies that that I see

840
00:43:29,800 --> 00:43:33,759
Speaker 6: people using all the time. I mean, like Facebook. I'm

841
00:43:33,800 --> 00:43:38,120
Speaker 6: an investor in Facebook, then I'm investor in We talked

842
00:43:38,120 --> 00:43:40,520
Speaker 6: about uh, some diffidence stocks.

843
00:43:40,560 --> 00:43:41,960
Speaker 7: But I try to.

844
00:43:41,880 --> 00:43:44,479
Speaker 6: Buy things that I see people using all the time,

845
00:43:45,520 --> 00:43:47,680
Speaker 6: and so I may do a little deep do this

846
00:43:47,719 --> 00:43:48,400
Speaker 6: little research.

847
00:43:48,440 --> 00:43:52,399
Speaker 7: But if I see people own the Apple all the time, was.

848
00:43:52,320 --> 00:43:54,520
Speaker 3: That your was that your best because you said you

849
00:43:54,560 --> 00:43:58,279
Speaker 3: brought the fight? Was that your was that your your

850
00:43:58,280 --> 00:43:58,960
Speaker 3: greatest stock?

851
00:43:59,080 --> 00:44:01,879
Speaker 7: Investment was crime was I told you I put two thousand.

852
00:44:04,520 --> 00:44:05,600
Speaker 4: Stop stop.

853
00:44:07,360 --> 00:44:10,799
Speaker 3: Probably have a five dollars cost basis in Apple, because

854
00:44:10,840 --> 00:44:12,879
Speaker 3: I mean, is it that one something now? But that's

855
00:44:12,960 --> 00:44:15,800
Speaker 3: that's not true price because it's split a few times

856
00:44:15,840 --> 00:44:18,120
Speaker 3: so apples that you can really say it's like almost

857
00:44:18,200 --> 00:44:20,200
Speaker 3: four hundred and fifty dollars probably if you would have

858
00:44:20,200 --> 00:44:24,000
Speaker 3: taken taken away to split. So to have five dollars

859
00:44:24,680 --> 00:44:27,759
Speaker 3: cost basis at four hundred and fifty dollars value.

860
00:44:27,840 --> 00:44:30,560
Speaker 7: I have it, my wife has it, my four kids.

861
00:44:30,280 --> 00:44:33,640
Speaker 5: Have it right, right, So that's part of the story

862
00:44:33,680 --> 00:44:35,520
Speaker 5: to it was like you didn't just buy it, just

863
00:44:36,040 --> 00:44:38,359
Speaker 5: got the memory. You said it was three thousand years

864
00:44:38,360 --> 00:44:40,759
Speaker 5: in the photo. It was like, Yo, you bought something

865
00:44:40,760 --> 00:44:42,799
Speaker 5: for you, you bought something for your wife, you bought

866
00:44:42,840 --> 00:44:43,800
Speaker 5: something for your four kids.

867
00:44:43,800 --> 00:44:47,320
Speaker 2: It's like, and you've gone through two splits, not just one, because.

868
00:44:47,120 --> 00:44:52,800
Speaker 6: It's just I've gone through a bunch of splits, got

869
00:44:52,840 --> 00:44:56,600
Speaker 6: through a bunch of splits. So generational yeah, So and

870
00:44:56,680 --> 00:45:01,880
Speaker 6: that's how I look at every transit I do. I

871
00:45:01,920 --> 00:45:04,600
Speaker 6: look at it through a generational lens. So the first

872
00:45:04,640 --> 00:45:06,200
Speaker 6: thing I asked you guys when I first came in here,

873
00:45:06,640 --> 00:45:10,240
Speaker 6: what's your plans? I look at a generational lens because

874
00:45:12,840 --> 00:45:18,720
Speaker 6: at some point you need to exit. You need to exit,

875
00:45:19,520 --> 00:45:22,520
Speaker 6: and so being an entrepreneur. Being an entrepreneur is like

876
00:45:22,600 --> 00:45:25,880
Speaker 6: being at a crap table and you're doing well. You

877
00:45:25,920 --> 00:45:29,640
Speaker 6: got all your chips stacked up real high. Everybody sees

878
00:45:29,680 --> 00:45:32,800
Speaker 6: your chips. It's, oh yeah, man, those guys are doing great.

879
00:45:33,440 --> 00:45:34,920
Speaker 6: Got a new range rover.

880
00:45:39,080 --> 00:45:40,880
Speaker 4: That you know.

881
00:45:41,040 --> 00:45:44,359
Speaker 7: Those guys are doing great. The chips are stacked up.

882
00:45:44,840 --> 00:45:48,440
Speaker 7: But until you do this, you hadn't really won.

883
00:45:50,800 --> 00:45:53,719
Speaker 6: Because you have seen people at the crap table whose

884
00:45:53,800 --> 00:46:01,239
Speaker 6: chips are stacked up, shout out whose chips are and

885
00:46:01,320 --> 00:46:05,960
Speaker 6: they didn't do this, and the open here or two

886
00:46:06,040 --> 00:46:09,799
Speaker 6: thousand and eight hit, but something happens. So that's why

887
00:46:09,840 --> 00:46:11,120
Speaker 6: you got to plan the exit.

888
00:46:11,560 --> 00:46:13,480
Speaker 3: So let me ask you this as far, especially like

889
00:46:13,520 --> 00:46:15,080
Speaker 3: for being a black business own. A lot of times

890
00:46:15,080 --> 00:46:17,880
Speaker 3: people feel like there's two sides to the coin. And

891
00:46:18,040 --> 00:46:20,600
Speaker 3: like if we if we always sell our businesses, we

892
00:46:20,640 --> 00:46:24,160
Speaker 3: don't have the legacy brands of the Walmarts and we

893
00:46:24,200 --> 00:46:29,560
Speaker 3: can't build those names sold. Did they well, they're publicly,

894
00:46:31,719 --> 00:46:34,799
Speaker 3: but they took a bunch of chips off the thing

895
00:46:34,880 --> 00:46:38,399
Speaker 3: they did, but they but they still the kids still

896
00:46:38,440 --> 00:46:42,920
Speaker 3: have a large state sold. So the big question is

897
00:46:43,120 --> 00:46:45,480
Speaker 3: how do you feel about that? Like because like I

898
00:46:45,600 --> 00:46:47,200
Speaker 3: have no problem with about it, I said, there is

899
00:46:47,320 --> 00:46:50,680
Speaker 3: I've heard that from other people like that, especially black businesses,

900
00:46:50,760 --> 00:46:54,640
Speaker 3: that maybe it's not the best idea to sell because.

901
00:46:55,960 --> 00:46:59,440
Speaker 6: Okay, it ain't personal. Yeah, and I didn't have a

902
00:46:59,440 --> 00:47:01,800
Speaker 6: black you can't you can't have. I had a great business.

903
00:47:01,960 --> 00:47:04,680
Speaker 6: Can happen to be owned about black guys and so

904
00:47:06,920 --> 00:47:11,279
Speaker 6: and as a as a father for happily merrit man.

905
00:47:12,200 --> 00:47:14,279
Speaker 6: When you look at you talked about diversification. When you

906
00:47:14,320 --> 00:47:16,920
Speaker 6: look at your nest egg and it's ninety percent in

907
00:47:17,000 --> 00:47:24,239
Speaker 6: one company, that's dangerous. Yeah, that's dangerous. And so my

908
00:47:24,360 --> 00:47:27,840
Speaker 6: chips were stacked and I didn't want something to happen.

909
00:47:28,560 --> 00:47:30,799
Speaker 6: I didn't want to go out and hire another team

910
00:47:30,800 --> 00:47:32,000
Speaker 6: to take me to one hundred million.

911
00:47:32,400 --> 00:47:32,719
Speaker 4: And so.

912
00:47:34,400 --> 00:47:37,719
Speaker 7: Business is not personal, and we got to quit thinking of.

913
00:47:37,680 --> 00:47:38,160
Speaker 4: It that way.

914
00:47:39,080 --> 00:47:40,680
Speaker 6: You want to do a great job, you want to

915
00:47:40,719 --> 00:47:43,880
Speaker 6: hire great people, provide them great opportunities, but at some

916
00:47:43,960 --> 00:47:44,680
Speaker 6: point you need.

917
00:47:44,560 --> 00:47:49,200
Speaker 7: To exit because most of us go out of business.

918
00:47:50,200 --> 00:47:53,400
Speaker 7: Let mean, think about it, think about it. So people

919
00:47:53,520 --> 00:47:54,920
Speaker 7: came to me and said, man, I can't believe you

920
00:47:54,960 --> 00:47:58,680
Speaker 7: sold your company. Why did you sell it? I said,

921
00:47:58,680 --> 00:47:59,719
Speaker 7: twenty three million.

922
00:47:59,440 --> 00:48:01,320
Speaker 2: Dollars, twenty three million reasons.

923
00:48:01,480 --> 00:48:04,160
Speaker 7: But here's the deal. Some people came and said, why

924
00:48:04,200 --> 00:48:04,920
Speaker 7: did you sell it?

925
00:48:05,920 --> 00:48:09,160
Speaker 6: And then some other folks came and said, how did

926
00:48:09,200 --> 00:48:10,400
Speaker 6: you sell it?

927
00:48:10,560 --> 00:48:12,720
Speaker 4: Difference a difference to difference.

928
00:48:12,800 --> 00:48:13,560
Speaker 7: It's a difference.

929
00:48:14,000 --> 00:48:17,560
Speaker 6: How did you do it? That's my question. How did

930
00:48:17,600 --> 00:48:20,759
Speaker 6: you do it? Not why did you do it? It's

931
00:48:20,880 --> 00:48:23,600
Speaker 6: very obvious. I started a company two.

932
00:48:23,480 --> 00:48:27,759
Speaker 7: Thousand dollars twenty three million dollar evaluation? What would you do?

933
00:48:28,000 --> 00:48:29,880
Speaker 4: What we're talking about?

934
00:48:30,080 --> 00:48:31,200
Speaker 2: That's not even a question that.

935
00:48:31,280 --> 00:48:31,959
Speaker 4: We're talking about.

936
00:48:32,440 --> 00:48:35,000
Speaker 7: But I had I had one lady. She was all

937
00:48:35,000 --> 00:48:37,000
Speaker 7: over me. She said, well, why did you do it?

938
00:48:37,120 --> 00:48:40,479
Speaker 7: He's black owned company, and blah blah blah. I just said,

939
00:48:41,280 --> 00:48:50,400
Speaker 7: twenty three billion dollars. Do you not understand?

940
00:48:51,840 --> 00:48:53,920
Speaker 2: So and so?

941
00:48:54,840 --> 00:48:55,719
Speaker 7: Here one more thing.

942
00:48:55,840 --> 00:48:56,840
Speaker 2: Yeah.

943
00:48:56,920 --> 00:48:57,760
Speaker 4: So when.

944
00:49:00,120 --> 00:49:01,919
Speaker 6: I got you, when the company was a sixteen million

945
00:49:01,960 --> 00:49:03,600
Speaker 6: dollars and I realized I wasn't the person to take

946
00:49:03,600 --> 00:49:05,280
Speaker 6: it to the next level, and I need a search

947
00:49:07,360 --> 00:49:09,840
Speaker 6: to find the best person to run the company. He

948
00:49:10,000 --> 00:49:13,200
Speaker 6: was a white guy. So how the white guy run

949
00:49:13,280 --> 00:49:16,040
Speaker 6: this company. Now, my CEO at the time was black,

950
00:49:16,080 --> 00:49:18,680
Speaker 6: my CFO was black. VP yourself is white. So I

951
00:49:18,719 --> 00:49:21,799
Speaker 6: had a diverse team of folks. But people ask me,

952
00:49:22,200 --> 00:49:25,920
Speaker 6: why did you hire the white guy to run your company?

953
00:49:26,640 --> 00:49:29,880
Speaker 7: Because he's the best, he's the best.

954
00:49:31,840 --> 00:49:33,719
Speaker 6: If you got a chance to hire Bill Gates to

955
00:49:33,719 --> 00:49:37,040
Speaker 6: come run your company, we just said, now, I'm not

956
00:49:37,040 --> 00:49:42,480
Speaker 6: gonna hire Bill because he's white. No, hire the best people, period.

957
00:49:42,600 --> 00:49:45,960
Speaker 6: And if you do that, and I tell white people this,

958
00:49:46,120 --> 00:49:48,400
Speaker 6: and I tell Black people this, If you hire the

959
00:49:48,440 --> 00:49:49,439
Speaker 6: best people.

960
00:49:49,880 --> 00:49:52,480
Speaker 7: You're gonna get diversity. That's gonna happen.

961
00:49:54,880 --> 00:49:57,120
Speaker 6: Look at look at sports. They go out and find

962
00:49:57,120 --> 00:50:00,640
Speaker 6: the best people. That's why you got diversity. You're finding

963
00:50:00,800 --> 00:50:04,879
Speaker 6: guys from all Overseas coming to play ball here. You're

964
00:50:04,880 --> 00:50:07,640
Speaker 6: gonna get diversity. So I had a diverse team because

965
00:50:08,120 --> 00:50:11,640
Speaker 6: my focus is on quality. So a couple of stupid

966
00:50:11,719 --> 00:50:13,759
Speaker 6: questions over the years for me, why'd you hire the

967
00:50:13,800 --> 00:50:15,360
Speaker 6: white guy because she's the best.

968
00:50:15,640 --> 00:50:20,000
Speaker 7: And look what happened. We won a championship.

969
00:50:23,239 --> 00:50:25,520
Speaker 6: And you still trying to figure out how you gonna

970
00:50:25,719 --> 00:50:26,560
Speaker 6: make your next move.

971
00:50:30,680 --> 00:50:32,840
Speaker 4: You have it. So the four phases of business.

972
00:50:33,320 --> 00:50:36,200
Speaker 3: This is interesting, you said, the idea, the startup phase,

973
00:50:36,440 --> 00:50:40,200
Speaker 3: the run and grow, and then the sell. So because

974
00:50:40,239 --> 00:50:42,080
Speaker 3: I think a lot of times most people they just

975
00:50:42,160 --> 00:50:45,759
Speaker 3: start a business and it's like they don't really have

976
00:50:45,960 --> 00:50:48,600
Speaker 3: any plan of like like when you met up, you're

977
00:50:48,600 --> 00:50:50,279
Speaker 3: like what you're playing? Like how you playing on selling this?

978
00:50:50,400 --> 00:50:51,960
Speaker 3: Like and a couple of people have actually asked me

979
00:50:52,000 --> 00:50:55,480
Speaker 3: that before. So do you think every what's your advice

980
00:50:55,520 --> 00:50:58,240
Speaker 3: for business owners that's just starting? Oh maybe just already

981
00:50:58,600 --> 00:51:02,240
Speaker 3: like as far as like real evaluating and having those four.

982
00:51:02,560 --> 00:51:05,279
Speaker 7: With the end in mind? Okay, star with the end

983
00:51:05,360 --> 00:51:07,319
Speaker 7: of mind, where do you want this to be?

984
00:51:08,680 --> 00:51:10,279
Speaker 6: If you build a house, you got a vision of

985
00:51:10,320 --> 00:51:11,799
Speaker 6: what you want that house to be, start with that

986
00:51:11,840 --> 00:51:14,560
Speaker 6: in mind. Sto with what you want that business to be.

987
00:51:15,200 --> 00:51:19,480
Speaker 6: Start with you know, uh, who don't want this business

988
00:51:19,520 --> 00:51:23,560
Speaker 6: to what company? Don't want this company to be? Like oftentimes,

989
00:51:23,560 --> 00:51:28,440
Speaker 6: what we do is we create jobs for ourselves, our businesses.

990
00:51:29,360 --> 00:51:32,839
Speaker 6: It's a job for us. I mean if we don't

991
00:51:32,840 --> 00:51:37,000
Speaker 6: go to work that next day, nothing happens. Most of

992
00:51:37,120 --> 00:51:39,680
Speaker 6: us start businesses. Most businesses just have one person working for.

993
00:51:42,239 --> 00:51:42,720
Speaker 7: The owner.

994
00:51:43,640 --> 00:51:47,279
Speaker 6: So start with. A friend of mine named Scott Source says,

995
00:51:47,320 --> 00:51:52,879
Speaker 6: start with how soon. Can you replace yourself and hire

996
00:51:52,920 --> 00:51:55,600
Speaker 6: a bunch of good people. Start with that. Start with

997
00:51:55,600 --> 00:51:58,000
Speaker 6: the understanding that you ain't the best person for the job.

998
00:51:58,320 --> 00:52:00,680
Speaker 6: Start with the seven bigger people in the world. I

999
00:52:00,760 --> 00:52:02,799
Speaker 6: guarantee that somebody better than you to do it.

1000
00:52:03,640 --> 00:52:08,759
Speaker 7: Start with that's build it around the people. Start with

1001
00:52:10,560 --> 00:52:12,160
Speaker 7: in my company, I would never sit at the end

1002
00:52:12,160 --> 00:52:14,360
Speaker 7: of the table at the board table.

1003
00:52:15,360 --> 00:52:18,680
Speaker 6: Strut with shrinking yourself so small that the people around

1004
00:52:18,680 --> 00:52:22,400
Speaker 6: you can perform that you don't overshadow them. Strut with

1005
00:52:22,440 --> 00:52:27,239
Speaker 6: stretching them and pushing them out front. And they ain't

1006
00:52:27,239 --> 00:52:28,520
Speaker 6: got to always they ain't got to be in the

1007
00:52:28,520 --> 00:52:31,279
Speaker 6: meeting and saying oh yeah. Under Daryl's leadership and under

1008
00:52:31,480 --> 00:52:35,799
Speaker 6: Darl's leadership, stuck my team knew not to ever do that.

1009
00:52:36,920 --> 00:52:39,680
Speaker 6: It was all about them.

1010
00:52:39,800 --> 00:52:41,920
Speaker 5: Yeah, So can we can we go? And that that's

1011
00:52:42,560 --> 00:52:48,319
Speaker 5: a lot of valuable advice. Can we talk about three? Yeah,

1012
00:52:48,320 --> 00:52:51,040
Speaker 5: because if I'm listening to you to say that, I'm thinking, like, so, what's.

1013
00:52:50,880 --> 00:52:51,560
Speaker 2: The vision for this?

1014
00:52:51,640 --> 00:52:53,800
Speaker 4: Because this is.

1015
00:52:56,520 --> 00:53:01,200
Speaker 5: So we're growing this business and obviously the evaluation so

1016
00:53:01,760 --> 00:53:03,440
Speaker 5: obviously that the playoff is gonna be bigger when we

1017
00:53:03,719 --> 00:53:03,960
Speaker 5: sell this.

1018
00:53:04,200 --> 00:53:10,040
Speaker 7: So you asked me before we started, you know, not

1019
00:53:10,080 --> 00:53:10,600
Speaker 7: to hit the table.

1020
00:53:10,640 --> 00:53:15,960
Speaker 6: Sorry, you asked me, why do I invest in businesses?

1021
00:53:16,680 --> 00:53:24,520
Speaker 6: And I have a philosophy, and that philosophy is I

1022
00:53:24,600 --> 00:53:32,319
Speaker 6: bet on the jockey, not the horse. I bet on

1023
00:53:32,320 --> 00:53:35,600
Speaker 6: a jockey because there are some people who are winners,

1024
00:53:37,120 --> 00:53:40,120
Speaker 6: regardless of any regardless of the situation you put them in,

1025
00:53:41,320 --> 00:53:42,680
Speaker 6: They're gonna find a way to win.

1026
00:53:45,280 --> 00:53:47,880
Speaker 7: They gonna find a way to win. There's some folks

1027
00:53:47,920 --> 00:53:53,360
Speaker 7: that you know, you're like, man, oh, he won again,

1028
00:53:53,880 --> 00:53:54,600
Speaker 7: he won again.

1029
00:53:55,560 --> 00:53:59,160
Speaker 6: So I bet on the jockey, not the horse. Street

1030
00:53:59,200 --> 00:54:03,680
Speaker 6: Recycling Solutions. I met this young African American CEO. At

1031
00:54:03,719 --> 00:54:06,600
Speaker 6: the time, he was twenty eight. They had four hundred

1032
00:54:06,640 --> 00:54:11,160
Speaker 6: thousand dollars in revenue, four employees, and I said, man,

1033
00:54:12,640 --> 00:54:13,480
Speaker 6: he's good.

1034
00:54:15,239 --> 00:54:19,720
Speaker 7: And I could mentor him. He knows the industry.

1035
00:54:20,120 --> 00:54:24,080
Speaker 6: He had a seven thousand square foot warehouse seven thousands

1036
00:54:24,120 --> 00:54:28,799
Speaker 6: small for recycling. So I invested about twenty percent of

1037
00:54:28,800 --> 00:54:31,640
Speaker 6: the company. I went back and bought another thirty one

1038
00:54:31,640 --> 00:54:33,879
Speaker 6: percent of the company. I went back and bought another

1039
00:54:34,400 --> 00:54:36,880
Speaker 6: now owned sixty four sixty five percent of the company.

1040
00:54:37,200 --> 00:54:39,880
Speaker 6: He owns a percentage and a couple other guys, but

1041
00:54:40,000 --> 00:54:42,840
Speaker 6: I'm the majority shareholder of the company. I needed to

1042
00:54:42,880 --> 00:54:44,520
Speaker 6: get majority on the ship so that when I spoke

1043
00:54:44,520 --> 00:54:53,360
Speaker 6: in the boardroom people would listens different.

1044
00:54:55,000 --> 00:54:59,120
Speaker 7: But he was good, and so today in mentoring him.

1045
00:54:59,120 --> 00:55:02,840
Speaker 6: Over the last years, it's gone from four hundred thousand

1046
00:55:02,840 --> 00:55:03,959
Speaker 6: dollars in sales.

1047
00:55:03,640 --> 00:55:05,879
Speaker 7: To now it's about two and a half three million

1048
00:55:05,920 --> 00:55:06,520
Speaker 7: dollar company.

1049
00:55:07,400 --> 00:55:10,160
Speaker 6: From seven thousand square feet that we were renting, you know,

1050
00:55:10,360 --> 00:55:11,280
Speaker 6: I would have never rented.

1051
00:55:11,840 --> 00:55:12,239
Speaker 4: I came.

1052
00:55:13,000 --> 00:55:16,240
Speaker 6: We're no longer renting. We bought a seventy five thousand

1053
00:55:16,239 --> 00:55:16,600
Speaker 6: square for.

1054
00:55:16,680 --> 00:55:19,319
Speaker 2: Whose seven thousand and seventy five thousand.

1055
00:55:19,560 --> 00:55:23,960
Speaker 6: Seven thousand to seventy five thousand. Our warehouse is bigger

1056
00:55:24,000 --> 00:55:28,680
Speaker 6: than the football field. We have signed four or five

1057
00:55:29,960 --> 00:55:35,719
Speaker 6: fortune five hundred companies to be our customers during COVID.

1058
00:55:35,760 --> 00:55:41,160
Speaker 6: Since March, the company has no debt outside of the

1059
00:55:42,520 --> 00:55:47,680
Speaker 6: debt for the real estate, no operational debt, and lots

1060
00:55:47,719 --> 00:55:54,279
Speaker 6: of cash. He is killing it and everybody needs it

1061
00:55:54,640 --> 00:55:56,920
Speaker 6: recycling and medical equipment recycling.

1062
00:55:57,080 --> 00:55:58,120
Speaker 4: In my mind when I was, I.

1063
00:55:58,080 --> 00:56:01,560
Speaker 6: Was everybody every corporation needs that. And he's the only

1064
00:56:01,600 --> 00:56:05,200
Speaker 6: one in that space that looks like him. So why

1065
00:56:05,239 --> 00:56:06,640
Speaker 6: can't I push him to the time.

1066
00:56:09,480 --> 00:56:12,319
Speaker 4: So where are you at now as far as your career.

1067
00:56:12,360 --> 00:56:17,160
Speaker 3: I know you have the charitable foundation, your family foundations.

1068
00:56:17,600 --> 00:56:20,360
Speaker 3: At this point in your life, are you more focused

1069
00:56:20,400 --> 00:56:24,960
Speaker 3: on still building businesses or helping people or combination of Like,

1070
00:56:25,000 --> 00:56:26,839
Speaker 3: what's your what's your twenty year plan?

1071
00:56:26,920 --> 00:56:27,800
Speaker 4: Starting up today?

1072
00:56:27,880 --> 00:56:32,640
Speaker 6: I told you that I have several port of jays,

1073
00:56:33,239 --> 00:56:34,560
Speaker 6: and I tell all of it.

1074
00:56:35,160 --> 00:56:40,080
Speaker 7: If I can't help you add a megan or two.

1075
00:56:39,960 --> 00:56:42,160
Speaker 6: Or three million dollars to your personal fans and statement,

1076
00:56:42,200 --> 00:56:43,799
Speaker 6: or if I can't help you make a million dollars

1077
00:56:43,840 --> 00:56:47,040
Speaker 6: or two million dollars, I shouldn't be your mental We

1078
00:56:47,040 --> 00:56:50,360
Speaker 6: should just be friends. We should just be drinking buddies.

1079
00:56:50,760 --> 00:56:53,080
Speaker 6: So my goal is to create a bunch of millionnaires.

1080
00:56:54,400 --> 00:56:56,040
Speaker 6: That's my goal. I got a friend and ask you

1081
00:56:56,080 --> 00:56:56,560
Speaker 6: who created?

1082
00:56:56,640 --> 00:56:56,680
Speaker 5: So?

1083
00:56:57,040 --> 00:56:59,399
Speaker 7: He created? He created so many millions we can't even

1084
00:56:59,400 --> 00:57:00,600
Speaker 7: count them. Include think myself.

1085
00:57:00,640 --> 00:57:03,440
Speaker 6: He helped with me. My goal is to create a

1086
00:57:03,440 --> 00:57:07,680
Speaker 6: whole bunch of millionaires. That's my goal. The other thing,

1087
00:57:08,200 --> 00:57:11,520
Speaker 6: as a race to charity, we've donated my wife and

1088
00:57:11,560 --> 00:57:14,439
Speaker 6: I we've donated at least a half a million dollars

1089
00:57:14,480 --> 00:57:19,720
Speaker 6: to various charities. Next year, I'm gonna step my charity

1090
00:57:19,760 --> 00:57:24,760
Speaker 6: game up and why does why does that mean something?

1091
00:57:26,360 --> 00:57:29,160
Speaker 6: I want to be winning and giving. I want to

1092
00:57:29,200 --> 00:57:32,480
Speaker 6: be winning and giving because I grew up poor and

1093
00:57:32,520 --> 00:57:34,560
Speaker 6: I know there are a bunch of people that need help.

1094
00:57:35,440 --> 00:57:38,560
Speaker 6: And so why do I keep investing in businesses to

1095
00:57:38,640 --> 00:57:41,400
Speaker 6: help help to make money and help people grow. But

1096
00:57:41,520 --> 00:57:47,120
Speaker 6: also it gives me more dollars to give the charities.

1097
00:57:47,880 --> 00:57:50,480
Speaker 6: It gives me a chance to be more charitable. And

1098
00:57:50,520 --> 00:57:52,760
Speaker 6: so I got a friend named the Costa Jenkinson. I

1099
00:57:53,360 --> 00:57:54,800
Speaker 6: talk with the Costs all the time, say hey man,

1100
00:57:55,320 --> 00:57:57,600
Speaker 6: my charity games, I gotta I gotta kick it up.

1101
00:57:58,760 --> 00:58:02,560
Speaker 5: So you you had a obviously illustrious career, a lot

1102
00:58:02,560 --> 00:58:06,600
Speaker 5: of success, but there has been some failures, and so yes,

1103
00:58:06,720 --> 00:58:09,880
Speaker 5: can we talk about the American Addiction Center and some

1104
00:58:09,920 --> 00:58:11,880
Speaker 5: of the business biggest lessons we've learned from.

1105
00:58:11,800 --> 00:58:15,480
Speaker 6: That American Addiction Centers took that company public and with

1106
00:58:16,320 --> 00:58:19,360
Speaker 6: a group of folks in two thousand October twenty fourteen.

1107
00:58:20,560 --> 00:58:24,400
Speaker 6: Very tough space it was. It was in vogue during

1108
00:58:24,400 --> 00:58:27,200
Speaker 6: that period of time, and then as insurance companies changed,

1109
00:58:27,400 --> 00:58:32,120
Speaker 6: as reimbursements change, it was devastating to the business. And

1110
00:58:32,160 --> 00:58:35,080
Speaker 6: so in that transaction, I think I lost between one

1111
00:58:35,160 --> 00:58:40,160
Speaker 6: and happened two billion dollars, and so that's my point.

1112
00:58:41,520 --> 00:58:45,520
Speaker 6: You gotta get in and get out. But we had

1113
00:58:45,520 --> 00:58:47,880
Speaker 6: a bunch of opportunity. There were a bunch of opportunities

1114
00:58:47,880 --> 00:58:51,040
Speaker 6: back then when things are in vogue to get out

1115
00:58:51,320 --> 00:58:54,800
Speaker 6: and so, but it's a tough business and there ended

1116
00:58:54,880 --> 00:58:58,360
Speaker 6: up being a bunch of addiction center companies that went

1117
00:58:58,400 --> 00:59:00,720
Speaker 6: out of business, and so I learned a lot from that.

1118
00:59:01,400 --> 00:59:04,920
Speaker 6: I have learned more from when the businesses stuff've been

1119
00:59:04,920 --> 00:59:08,000
Speaker 6: involved with or not doing well. I learned more during

1120
00:59:08,000 --> 00:59:11,600
Speaker 6: that period of time than when they're doing great. Because

1121
00:59:11,600 --> 00:59:13,560
Speaker 6: when everything is great, you don't have to look under

1122
00:59:13,600 --> 00:59:16,840
Speaker 6: the covers, you don't have to check the engine they're

1123
00:59:16,880 --> 00:59:19,760
Speaker 6: doing it's great. But when things aren't going well, you

1124
00:59:19,840 --> 00:59:23,400
Speaker 6: got to dig in and find out where you're losing money,

1125
00:59:23,400 --> 00:59:25,960
Speaker 6: find out where you're not efficient. And so the Magic

1126
00:59:26,000 --> 00:59:29,200
Speaker 6: Addiction Centers was a great concept, but I lost a

1127
00:59:29,200 --> 00:59:32,200
Speaker 6: ton of money, didn't hurt them.

1128
00:59:35,720 --> 00:59:39,160
Speaker 4: It's out good you have it, ladies and gentlemen.

1129
00:59:39,320 --> 00:59:41,680
Speaker 3: It's been a pleasure of How can the people follow

1130
00:59:41,680 --> 00:59:43,560
Speaker 3: you on social media know you got a YouTube series

1131
00:59:43,800 --> 00:59:45,280
Speaker 3: when you actually interview people on.

1132
00:59:45,800 --> 00:59:47,680
Speaker 7: When do you guys come up in the plane with me.

1133
00:59:51,080 --> 00:59:54,640
Speaker 6: So I have a cockpit conversations where I take people up.

1134
00:59:55,080 --> 00:59:57,840
Speaker 6: We're successful, We talk about business concepts. We may talk

1135
00:59:57,880 --> 01:00:00,720
Speaker 6: about real estate, we got every checking. Take people up

1136
01:00:00,720 --> 01:00:03,440
Speaker 6: who are in corporate America, C level folks, talk about

1137
01:00:03,680 --> 01:00:07,120
Speaker 6: how they got to where they are. Just some inspirational stories.

1138
01:00:07,120 --> 01:00:09,520
Speaker 6: That gives me a chance to fly my plane and

1139
01:00:10,040 --> 01:00:13,800
Speaker 6: interview great folks. And then I'm on Instagram Dell Les Freeman,

1140
01:00:13,920 --> 01:00:18,919
Speaker 6: Sor and I also do a thing called OG free

1141
01:00:18,920 --> 01:00:21,160
Speaker 6: Game Friday.

1142
01:00:21,320 --> 01:00:26,800
Speaker 9: I saw that og free Game Friday, and that's you know,

1143
01:00:28,320 --> 01:00:31,960
Speaker 9: I don't I've learned a lot because people have poured

1144
01:00:32,000 --> 01:00:32,560
Speaker 9: a lot into me.

1145
01:00:33,560 --> 01:00:36,040
Speaker 7: This is not a I mean, I'm not a real

1146
01:00:36,120 --> 01:00:36,800
Speaker 7: smart person.

1147
01:00:37,600 --> 01:00:40,400
Speaker 6: I've had some success, but it's because of people who've

1148
01:00:40,440 --> 01:00:43,360
Speaker 6: taken interest and said, hey, I'm gonna help you. And

1149
01:00:43,440 --> 01:00:46,240
Speaker 6: so I used the Internet and I used to copy

1150
01:00:46,320 --> 01:00:49,920
Speaker 6: conversations to whatever they poured in me. That has some

1151
01:00:50,080 --> 01:00:52,120
Speaker 6: value to be able to put it back out into

1152
01:00:52,120 --> 01:00:57,600
Speaker 6: the space. So it's just what I like doing it.

1153
01:00:57,720 --> 01:01:00,200
Speaker 6: And I admire what you all are doing because us

1154
01:01:01,240 --> 01:01:04,680
Speaker 6: you're bringing some real nuggets and you bring some real

1155
01:01:04,840 --> 01:01:07,680
Speaker 6: meaningful information appreciate that.

1156
01:01:09,040 --> 01:01:11,800
Speaker 5: Yeah, I appreciate I told you that when we met downstairs.

1157
01:01:11,840 --> 01:01:14,560
Speaker 5: I'm like, I've known people my whole life and they

1158
01:01:14,600 --> 01:01:16,320
Speaker 5: know what we're doing and have never reached out to

1159
01:01:16,320 --> 01:01:18,640
Speaker 5: say anything. And you heard one episode, and like, I

1160
01:01:18,680 --> 01:01:21,600
Speaker 5: can guarantee once a month you're gonna send me something inspirational,

1161
01:01:21,600 --> 01:01:23,760
Speaker 5: whether it's you in the cockpits or it's you on

1162
01:01:23,800 --> 01:01:24,640
Speaker 5: the island.

1163
01:01:24,600 --> 01:01:25,400
Speaker 7: To give you the real stuff.

1164
01:01:25,400 --> 01:01:27,959
Speaker 4: Next time, I think you handle Man.

1165
01:01:27,920 --> 01:01:29,560
Speaker 2: Now we're gonna be we're gonna be in the picture together.

1166
01:01:29,600 --> 01:01:32,800
Speaker 6: That okay to come down to the island, man, Yeah,

1167
01:01:32,840 --> 01:01:34,360
Speaker 6: we gotta take my plane down.

1168
01:01:34,400 --> 01:01:36,960
Speaker 4: We gotta come read the boat either.

1169
01:01:37,320 --> 01:01:40,040
Speaker 2: Bamas, yeah, bahamas, I got a pictures.

1170
01:01:40,040 --> 01:01:43,440
Speaker 3: I wouldn't expect anything. I wouldn't expect it. I wouldn't

1171
01:01:43,440 --> 01:01:46,080
Speaker 3: expect any paradise island.

1172
01:01:46,080 --> 01:01:46,640
Speaker 4: I'm on my way.

1173
01:01:47,400 --> 01:01:47,960
Speaker 7: Not paradise.

1174
01:01:49,520 --> 01:01:53,040
Speaker 4: That sounds accident boom. I've been.

1175
01:01:53,280 --> 01:01:54,000
Speaker 7: Island is nice.

1176
01:01:54,120 --> 01:01:56,360
Speaker 4: We're gonna take it, Okay, I've been. I've been a

1177
01:01:56,440 --> 01:01:58,320
Speaker 4: nasal sound.

1178
01:01:58,760 --> 01:02:00,760
Speaker 7: And you look at me when and you fly with me,

1179
01:02:01,920 --> 01:02:03,120
Speaker 7: you gotta take your shoes.

1180
01:02:02,800 --> 01:02:07,840
Speaker 2: Off straight to the clip.

1181
01:02:08,080 --> 01:02:08,800
Speaker 4: You're gonna we're.

1182
01:02:08,640 --> 01:02:10,320
Speaker 7: Gonna drive the car right up to the plane.

1183
01:02:10,560 --> 01:02:13,400
Speaker 4: I'm ready, man, I'm ready. If we didn't have market Monday,

1184
01:02:14,840 --> 01:02:18,520
Speaker 4: I would be right now.

1185
01:02:18,520 --> 01:02:24,800
Speaker 3: I don't tip me with a good time. I appreciate it.

1186
01:02:24,840 --> 01:02:27,320
Speaker 3: I definitely appreciate it. I'm sure the audience appreciates it

1187
01:02:27,360 --> 01:02:29,240
Speaker 3: as well as uh. You know, it's always good to

1188
01:02:29,240 --> 01:02:33,280
Speaker 3: get first hand information from people that have experience and

1189
01:02:33,320 --> 01:02:36,320
Speaker 3: have done it. And you know, there's no better way

1190
01:02:36,400 --> 01:02:39,560
Speaker 3: to learn than to actually learn from somebody as opposed

1191
01:02:39,600 --> 01:02:41,280
Speaker 3: to like doing it in theory, like you actually did

1192
01:02:41,280 --> 01:02:44,120
Speaker 3: it in real life. So a thank you for joining us,

1193
01:02:44,120 --> 01:02:46,040
Speaker 3: and thank you for just being generous, because it's another

1194
01:02:46,080 --> 01:02:48,480
Speaker 3: form of charity as well. It's like, you know, being generous.

1195
01:02:48,480 --> 01:02:52,160
Speaker 3: You don't have to fly to give free information. So

1196
01:02:52,680 --> 01:02:54,760
Speaker 3: that's that's a form of mentorship and definitely a way

1197
01:02:54,760 --> 01:02:55,320
Speaker 3: of giving back.

1198
01:02:55,400 --> 01:02:58,560
Speaker 4: So appreciate that. Thank you, Thank you, Thank you the mentor.

1199
01:02:58,880 --> 01:02:59,920
Speaker 7: I'll tell you what, I'm humble.

1200
01:03:00,440 --> 01:03:04,520
Speaker 4: Thank you, guys, thank you man, thank you, thank you.

1201
01:03:04,840 --> 01:03:07,720
Speaker 2: Troy housekeeping it on shout everybody on pitcheon dot com.

1202
01:03:07,840 --> 01:03:10,560
Speaker 2: Y'all know that's our product, paid program. Everybody that's been supporting.

1203
01:03:10,600 --> 01:03:11,760
Speaker 2: We greatly appreciate it, y'all know.

1204
01:03:11,840 --> 01:03:15,000
Speaker 5: T five members, y'all get access to eyl University, the

1205
01:03:15,040 --> 01:03:17,560
Speaker 5: number one online school in the world. That is a

1206
01:03:17,560 --> 01:03:19,280
Speaker 5: big facts of Shout out to the earners out of there,

1207
01:03:19,600 --> 01:03:21,480
Speaker 5: and shout out to everybody that's been supporting the merch.

1208
01:03:21,920 --> 01:03:24,120
Speaker 2: We are greatly appreciated. We got some new stuff on

1209
01:03:24,160 --> 01:03:24,720
Speaker 2: the way.

1210
01:03:25,240 --> 01:03:27,800
Speaker 3: Yes, So thank you guys for rocking with us. We'll

1211
01:03:27,800 --> 01:03:28,680
Speaker 3: see you next week.

1212
01:03:28,880 --> 01:03:29,160
Speaker 4: Peace.

1213
01:03:30,880 --> 01:03:34,800
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