Dr. Allen Lomax, CEO of Steed Talker Capital, is a visionary real estate investor dedicated to helping professionals achieve financial freedom through passive investments. Specializing in raising capital for multifamily ventures, he provides investors with a clear path to wealth-building. Overcoming early financial setbacks, he turned adversity into success, leveraging his background in psychology and decades of experience in education and business. In a discussion with Rod, Dr. Lomax explored global economic trends, including the rise of BRICS, tariff impacts, and market dynamics like Tesla’s stock performance, highlighting the broader forces shaping investment opportunities today.

Here’s some of the topics we covered:

  • How Your Biggest Weakness Could Be Your Secret Weapon
  • The Hidden Beliefs Holding You Back & How To Break Free
  • How The 2008/2009 Market Crash Changed Everything
  • Losing Over $1M In The Real Estate Crash
  • Unlock Your Real Estate Superpower and Raise Capital Like a Pro
  • Trump’s Vision for America & What It Means For You
  • Tesla Stock and How It Impacts DOGE
  • The Game-Changing Advice You Need Right Now
  • Why Smart Investors Are Ditching Single-Family for Multifamily

To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com

Full Transcript Below

01:20:15:16 – 01:20:35:07
Rod
Welcome to another edition of Lifetime Cash Flow through Real estate investing. I’m Rod Khleif, and I’m thrilled you’re here. And I know you’re going to get tremendous value from. Very interesting. Gentlemen. I’m interviewing today’s names. Allen Lomax, and he’s the CEO of Speed Talker Capital. He’s a PhD. And, in a topic that I’m not very familiar with at all, but I’ll let him tell you about that.

01:20:35:13 – 01:20:36:24
Rod
Welcome to the show, my friend.

01:20:36:26 – 01:20:38:23
Allen
We’re glad to be here, Rod. Thanks for having.

01:20:38:23 – 01:20:52:03
Rod
Me. Absolutely. Well, why don’t you, give us a little background on who you are? And, kind of a major shift from your educational background to where you are now and maybe speak to why and all.

01:20:52:03 – 01:21:25:00
Allen
Of that as well. Well, sure. I, I was a really late, bloomer. I spent the first 20 years of my adult life as just a really ne’er do well, going nowhere from dead end opportunity to dead end opportunity. And then, when I was 38, a crisis hit. Actually, it was the, ending of my marriage, which was totally unexpected.

01:21:25:03 – 01:21:28:24
Allen
And it was, I guess you could call it my rock bottom moment.

01:21:28:26 – 01:21:30:13
Rod
I when was this?

01:21:30:14 – 01:21:35:12
Allen
And, and 1989.

01:21:35:13 – 01:21:36:07
Rod
89. Okay.

01:21:36:07 – 01:22:06:17
Allen
Yes. And, so at that point in time, I went into psychotherapy for the first time in my life, and for the first time in my life, I actually started seeing what I had considered weaknesses essentially as actually my strengths, and began to realize that there was a lot that I did have to offer and to contribute.

01:22:06:17 – 01:22:41:20
Allen
And, and started really for the first time in my life, actually providing what comes very naturally for me to provide for others. And that’s really unconditional positive regard and empathic understanding, and started applying that to myself and then went into counseling, went back to school, got my masters degree, and then eventually my PhD and ended up, as a, a university, professor.

01:22:41:23 – 01:23:10:13
Allen
And for the first time in my life, and at 42 years old, I finally had a passion. And, and it has driven me ever since then, and it has been that passion to really, to see that, that other people don’t have to spend 20 years of their life finding who they are and what they are. And I mentioned that for, for a couple of reasons.

01:23:10:13 – 01:23:41:09
Allen
I mean, a lot of people, particularly entrepreneurs, you hear their story. I started mowing lawns when I was five years old, and, I sold my business when I was, 15 and made a million. And, and I’m not knocking those people. I think that’s great. And that’s what I want other people to do, is to really find themselves, early on in life so they don’t waste 20 years of their life trying to put their feet on the ground and and really find their passion.

01:23:41:12 – 01:23:42:17
Rod
What were your weaknesses that.

01:23:42:17 – 01:23:43:09
Allen
You discovered.

01:23:43:09 – 01:23:48:12
Rod
Were actually strengths. So I’m just curious. I mean, I think you kind of alluded to them, but if you wouldn’t mind.

01:23:48:14 – 01:23:58:21
Allen
Well, I’m an extreme introvert, and, I always looked at that as, as a weakness, which it is.

01:23:58:24 – 01:24:13:28
Rod
Oh, no, I disagree, I disagree completely. I will tell you, I think some of the most successful people in this business are introverts. You know, I’m an extrovert. You know, as an introvert you get energy from being alone. I get energy from being like, I go to the mall to feel better. I get energy from being around people.

01:24:14:00 – 01:24:34:13
Rod
But I will tell you, as an introvert, you’re a much better communicator because me, when I’m communicating with someone, my brain is working so fast, I’m looking over their shoulder, waiting for the next conversation rather than really focusing on who I’m talking to. And so you have the ability to build a much deeper, immediate connection with someone than someone like me.

01:24:34:13 – 01:24:51:00
Rod
So yeah, I, I have to disagree with you. I think my, my ex was an introvert and you know, she’d go in her closet and literally spend six, seven hours in there, love and rearranging her for clothing, you know? So yeah. Anyway, so introvert. Was there any other weakness that you discovered? I’m just curious.

01:24:51:02 – 01:25:13:25
Allen
Well, it is extraordinarily sensitive. So sensitivity and introversion, are. Well, I think I think it, it it it goes like this. It’s, it’s on a spectrum. It’s and so our greatest strengths are also our greatest weakness. I have to agree.

01:25:13:25 – 01:25:16:29
Rod
And so you’re much more compassionate than other people.

01:25:17:04 – 01:25:34:20
Allen
Yeah. Yeah. Exactly. Right. So okay. So realizing that those are not or they are weaknesses. Certainly if I allow them to be but learning how to utilize that was can be my greatest strength. Yeah. As well, I.

01:25:34:20 – 01:25:58:09
Rod
Mean, as a teaching moment right now, can you identify? I mean, I’m sorry, this is totally a non-real estate related, but I think it’s related. Well, we could add some value here, you know, because I think this ties into a little bit of your study as well. Are there any, other weaknesses that we could outline for people that are listening that they might be able to.

01:25:58:12 – 01:25:58:26
Allen
Read.

01:25:58:26 – 01:26:06:06
Rod
Into, to reconsider, as not a weakness? Does anything come to mind? I mean, I’m throwing this at you.

01:26:06:11 – 01:26:09:28
Allen
Out of the blue. How deep do you want to go?

01:26:10:00 – 01:26:29:11
Rod
Well, you know, you know, a lot of people have limiting beliefs about themselves. You know, I, I tell the story of, you know, being immigrating to this country when I was six years old, I didn’t speak English, got thrown into school, got my butt kicked for the first time and found out what bullies were. And that, coupled with some other experiences I had caused me to believe I wasn’t good enough.

01:26:29:13 – 01:26:56:01
Rod
And And so I guess the that belief caused me to really, achieve some pretty significant success because I had to prove to the world that was good enough. But it also cost me relationships, family relationships and things like that. So I guess that would be an example of what we’re talking about here. But as far as weaknesses or the perception of weaknesses, I love, I love that topic.

01:26:56:01 – 01:27:16:15
Rod
So, guys, if you’re listening and something comes to mind where you feel like you’re weak in some fashion, you might want to look at the, the the potential power that you can get from that perceived weakness. I don’t know if anything else comes to mind for you. If any other higher level ones, but if it’s if it’s a deep conversation, we probably better leave it alone.

01:27:16:17 – 01:27:36:06
Allen
Well, not diving too deep into the words it is. It certainly has to do with, With one’s genuineness. I was presenting to the world or attempting to present to the world somebody I really was.

01:27:36:06 – 01:28:01:15
Rod
Oh, that’s really good. Yeah. Same. So, so many of us have this imposter syndrome, and and or the need to prove and and through, you know, I went through the whole show. I’m, I’m good enough through material things. You know, the stupid crap like cars and toys and things of that nature and, and, you know, luckily I’m mostly past that now, but, but that’s not genuine.

01:28:01:15 – 01:28:15:14
Rod
It’s not authentic. And, that’s that’s a really profound statement you just made. So, I cut you off mid range there, but but so so you got your PhD, if you would please start from that point forward and why real estate and.

01:28:15:17 – 01:28:40:29
Allen
Yeah. Well the work I was doing was extraordinary. Rewarding, actually. I still do that idea, but it but I, I wanted more wealth than that. And so I started looking into real estate and like, so many, people I started in single family. I mean, there’s so much hype.

01:28:41:01 – 01:28:42:09
Rod
And this was in North Carolina.

01:28:42:09 – 01:29:06:22
Allen
This, this was in, in Texas. And, and also I was working as a university professor in Guam, so I was oh, well, I’m from Guam, but I was doing it, in single family homes, you know, I mean, you know, HGTV makes it so glamorous, it looks like. Oh, that’s just such a wonderful thing to do.

01:29:06:22 – 01:29:08:25
Allen
Well, that’s what I was doing.

01:29:08:27 – 01:29:10:23
Rod
And flipping and wholesaling, things like that.

01:29:10:23 – 01:29:43:25
Allen
I was well, I was, I was purchasing and holding and I was actually doing what they called today, which is house hacking. And so I was, taking, larger, single family homes and converting them into Triplexes. And for plexus owned. And that worked pretty well. And, for, for I started really getting into that in, in the late 1990s.

01:29:43:27 – 01:30:11:01
Allen
And so for six, six years or so, I was into that and I had purchased several properties and, and then 2008 hit and I just was wiped out. You were wiped. And, you know, I mean, I didn’t have, really big dreams of becoming a multi multi-millionaire. I just wanted, you know, some some wealth. And so I didn’t have.

01:30:11:04 – 01:30:11:20
Allen
From what, what.

01:30:11:20 – 01:30:16:21
Rod
Did you have in 2008? I’m sorry to interrupt. What did you what sort of what was your portfolio like at that?

01:30:16:24 – 01:30:35:11
Allen
I had I had about a million, in assets at that point in time. I was an accredited investor. Houses? Yeah. Houses. Yeah. So, yeah. And so, I had, several, single family, and I had a small mobile home park. And so.

01:30:35:13 – 01:30:37:13
Rod
And this was in Texas or.

01:30:37:15 – 01:30:49:10
Allen
This was and this was after, actually, I moved to Colorado. Colorado as well. Okay. So I had it in Colorado. And then, I mean, it was after I moved to North Carolina, I had some property in Colorado. In Colorado.

01:30:49:15 – 01:30:50:03
Rod
Oh, interesting.

01:30:50:03 – 01:30:53:14
Allen
And then also in North Carolina. And.

01:30:53:17 – 01:30:56:01
Rod
I used to have 500 houses in Denver at one time.

01:30:56:06 – 01:30:56:28
Allen
Oh, really? Yeah.

01:30:56:28 – 01:31:13:02
Rod
Wish I still had those. Oh my God. Yeah. I, I, you know, would have, could have should I, I you can’t do that. But, you know sometimes I’ll go back and I’ll say, you know, so I sold all those to buy about 1300 houses here in Florida, which I lost in 2009. I lost I’m sure Matt told you I lost 50,000,000 in 2009.

01:31:13:02 – 01:31:29:28
Rod
Conservatively. And, you know, if I still had those Denver houses, they’d be free and clear, and I’d be. I’d be probably. Bottomline, netting about a million a month from that. So what I could have should have. But it’s it’s all good then lots of things in my life wouldn’t have happened that that I couldn’t live without. So, you know, it all happens for a reason, right?

01:31:29:28 – 01:31:30:03
Rod
Right.

01:31:30:04 – 01:31:31:00
Allen
Exactly.

01:31:31:00 – 01:31:40:11
Rod
But, so, so then you you you got wiped out in 089. Yeah. Welcome to the club. And then, then what happened?

01:31:40:13 – 01:32:06:02
Allen
Well, as as I was talking with Matt, you know, you know, the loss of the money is one thing, but the loss of prestige, the loss of self-esteem, the loss of of confidence, the loss of, of all of that was overwhelming. And here and it was a double whammy for me, because here I am in the counseling profession, and I’m supposed to be able to handle those things, and I wasn’t I couldn’t handle it.

01:32:06:02 – 01:32:15:18
Allen
And I became extraordinarily depressed. It took a long time to come out of that. It really took about six years to get back into the game.

01:32:15:20 – 01:32:38:16
Rod
And can I stop you for one second? Sure. Guys, this is why it is so important whenever you do anything, as a vehicle, when I call it a vehicle, be it real estate, be buying a business, be, you know, whatever you decide to do, stock market your vehicle, don’t let it become your identity. And a lot of, you know, it’s very easy to have it become your identity.

01:32:38:16 – 01:32:53:02
Rod
Because if it fails, you’ve failed. Where if it fails and it’s not your identity, it’s just your vehicle, then yeah, it’s a failure, but you’re not a failure. And, so I just wanted to add that to that piece. Yeah. So it took you six years. Yeah. And then what.

01:32:53:04 – 01:33:18:21
Allen
Six years? And then by then the market was coming back. I didn’t lose absolutely all of the properties. So. Oh, values were starting to come back. And so, then I took the equity from those properties and started investing and, and multifamily. I and, and also during that, that six years, I mean, it was it was some really difficult years.

01:33:18:24 – 01:33:32:23
Allen
Because, well, I didn’t just lose, my property at that point in time because of that, the economy and everything, I lost the job that meant so much to me. And that was really my the educational job. Oh, wow. Okay.

01:33:32:23 – 01:33:35:26
Rod
And I didn’t know schools cut back then as well. I mean.

01:33:35:26 – 01:34:04:11
Allen
And they did. Yeah. No kidding. Well, yeah, it was, and so, getting all that back together, I finally did. I finally secured another, teaching position, and, and the value started coming back. And so I started investing in multifamily. But it wasn’t just that the values started coming back. I had also started networking, joining masterminds and actually getting educated.

01:34:04:11 – 01:34:08:01
Allen
Whereas before 2008, I was just kind of.

01:34:08:03 – 01:34:08:26
Rod
Flying solo.

01:34:08:26 – 01:34:15:20
Allen
Thought flying solo, flying by the seat of my pants, looking at appreciation and thinking, well, it’s, you know, it’s going to.

01:34:15:20 – 01:34:17:16
Rod
Happen forever. It’s going to go on forever.

01:34:17:16 – 01:34:17:22
Allen
Yeah.

01:34:17:22 – 01:34:18:02
Rod
We all.

01:34:18:02 – 01:34:19:25
Allen
Thought that.

01:34:19:27 – 01:34:40:27
Rod
And so you recognize the need for education. Yeah. You know it’s so funny. We have a parallel story there because, you know I bought thousands of houses without any education. And then finally, you know, once I started getting into multifamily, I recognized and even far along in the journey I started, I started, educating. Well, I’m sorry, I interrupted.

01:34:40:27 – 01:34:59:27
Rod
Please continue. But but yeah, you know, it it it it shortens the learning curve. When you pay for speed and and prevents mistakes and, you know, a lot of people, you know, that that are in the single family and wholesaling in, in, in flipping and space, you know, think they can go out and do this.

01:34:59:27 – 01:35:24:13
Rod
Larger multifamily is on their own not realizing, number one, that it’s a team sport, but number two, that, you know, there’s a lot more zeroes. And, that’s that’s why, you know, coaching program or a, you know, a group, a mastermind that you join where you’ve got other people looking over your shoulder, looking at your deals, evaluating with you, telling you why not to do the deal, whether than rather than just telling you to do the deal.

01:35:24:16 – 01:35:48:27
Rod
You’re nodding. You agree with all this? This is super important. I, I don’t know if you’re aware I’ve got a coaching program that called My Warriors, and I’m blessed to say, I think we’re over 250,000 units now under my tutelage, something I’m very proud of. And, they’re all done between warriors. They’re all done together. And, and so that that that environment that you brought put yourself into, I’m sure was a catalyst for that.

01:35:48:27 – 01:36:32:23
Allen
Yes. Well, absolutely. Yeah. Yeah. And, and I thought as, as I was going into to multifamily, I thought, well, I’m going to do this myself. I mean, I had a realtor license, I had go to, all kinds of properties. I knew the trade and I thought, well, it can’t be any different. So I started out with the idea that I was going to put together my own company, and I started networking with realtors, started, looking into, got really educated and underwriting and understanding, that process and started putting offers out there.

01:36:32:26 – 01:36:45:08
Allen
And, and I, and I put in this one offer on a property and I went home and I hope to God that they didn’t accept that off. Really?

01:36:45:11 – 01:36:53:25
Rod
You were terrified that they might actually accept it. I’ve been there. No, I’ve been there. And you know, when you’ve got a big equity raise that you’re facing and things like that, sure.

01:36:53:28 – 01:37:18:13
Allen
And sure enough, they didn’t accept it. And at that point in time, I realized there are experienced operators out there whose teams are already together. And it’s ridiculous for me at my age and my point in time in my life to start my own company. Join with those who already have it together. And so I thought, well what can I do.

01:37:18:16 – 01:37:34:21
Allen
And I’ve got well I can raise capital. And so that’s really what I have been working on since 2020. I started my podcast with the oh you have a podcast. What’s it titled? It’s titled Streams to Impact Stream.

01:37:34:21 – 01:37:37:11
Rod
Oh, I like the name. Okay, I like the name.

01:37:37:13 – 01:37:46:20
Allen
And, so of course streams of streams have been and, and, and wealth is an avenue to make positive impact. Oh, I love that.

01:37:46:22 – 01:37:51:07
Rod
I love, I love what that’s what that says to to make the world a better place. I love that.

01:37:51:07 – 01:38:01:15
Allen
Exactly. And so, that’s what I’ve been working at since, since 2020. And,

01:38:01:17 – 01:38:13:25
Rod
And so, so you’ve, you’ve aligned as a cog, I assume. Yeah. With, with other operators, very common dynamic. And,

01:38:13:27 – 01:38:14:13
Allen
Yeah.

01:38:14:20 – 01:38:30:13
Rod
They tell you about a deal and you do you do you get involved in the, in the due diligence process or do you. I’m assuming you underwrite it, but you actually show up at the property and look at it as well. Good. You need to. I’m sure you know that. You can’t just raise money. You have to be actively involved.

01:38:30:13 – 01:38:51:11
Rod
You can’t be an equity raiser. But, but but that’s a fantastic way to get going. And a lot of people, you know, that’s that’s how they get into this business. I’ve got scores of students that, you know, literally involved now in thousands and thousands of units that way. So where, where, tell me where you have where you do you do invest with more than one group or.

01:38:51:11 – 01:38:58:27
Rod
Oh, you do. So you’ve got several, operators that you like dealing with. And where are the assets that you’ve been involved in?

01:38:59:00 – 01:39:17:12
Allen
The, here in the southeast? Primarily in our last, last quarter, we, we, we were involved in and three different, opportunities, one in Montgomery, Alabama, the other in.

01:39:17:14 – 01:39:18:04
Rod
Deep South.

01:39:18:04 – 01:39:29:13
Allen
And in Murphysboro. I like that town and, and greens, Greensboro. Oh, that’s our town, too. Yeah, yeah, yeah.

01:39:29:16 – 01:39:34:00
Rod
And what what are the typical asset size that you go after.

01:39:34:02 – 01:39:35:05
Allen
Over 100?

01:39:35:05 – 01:39:45:19
Rod
So talk about the process that you go through. When you’re evaluating not just an operator and operator, you said we, by the way, is it you or someone else or is.

01:39:45:19 – 01:39:46:22
Allen
It’s it’s me.

01:39:46:23 – 01:40:03:05
Rod
It’s just. You got it. Okay. So so when you’re raising money. Well, let me let me back up. When you’re evaluating a potential operator, talk about the things that you look for in that GPC team. And, yeah, let’s start there.

01:40:03:07 – 01:40:28:08
Allen
Well, like I said, I started, the podcast in 2020, which was the whole purpose of that was to come in contact with, oh, good idea writers. Good idea. And, and, and so I have, I have interviewed probably over 650 or so operators. So even though I don’t sit down and, face to face like you and I are doing, I’m sitting down face to face on zoom.

01:40:28:12 – 01:40:56:14
Allen
On a zoom. Yeah. And, so I’m, so that’s my first introduction to, to these various different operators. And so I have a face to face conversation with them. And, after that, then I’m doing, background, searches on them, which is easy enough to do. They stay do that online and, and then I want to know, their track records.

01:40:56:20 – 01:41:29:21
Allen
And if they can’t show their track record, then certainly I’m not interested in working with them. I like them to have, have taken at least ten properties, full cycle. And I want to see what their initial projections were as opposed to how they ended up, once they’ve taken those full cycle good questions. Because I, I want to be fairly well reassured that they are underwriting conservatively.

01:41:29:24 – 01:41:33:10
Allen
Every operator you ask out there, are you underwriting conservatively?

01:41:33:10 – 01:41:33:23
Rod
I’ll say yes.

01:41:33:23 – 01:41:35:25
Allen
Absolutely, yes.

01:41:35:27 – 01:41:51:01
Rod
I even have to tell you funny story. And I love him, even though most people don’t, Grant Cardone, I saw one of his offering memorandums, and he was. And he says he’s conservative as well. And he was projecting 10% rent increases for five years.

01:41:51:03 – 01:41:52:11
Allen
Yeah, like that’s going to happen.

01:41:52:11 – 01:41:57:16
Rod
Yeah, exactly. Exactly, exactly. But, anyway, so.

01:41:57:18 – 01:42:17:04
Allen
So I compare what they projected with, with what the outcomes were and and and, and then I just want to get a sense and a feeling that they are honest. And of course, you trust.

01:42:17:04 – 01:42:36:00
Rod
Your intuition with that because you’ve probably got a very honed sense of intuition. Yes. And then. Yeah. By the way, guys, I also have a resource for this. But what he just said is fantastic. I mean, you get someone that that meets those criteria, you’re you’re well on the way. But I’ve got a book. It’s in Rod’s links.com.

01:42:36:00 – 01:42:54:16
Rod
It’s called questions to Ask a General Partner in a syndication before you invest as a passive investor. And, you know, other questions could be things like, you know, what do you you know, what’s your what’s your plan for the asset? Are you going to refinance or are you going to sell. You know, what’s the target market? Obviously, you know, what sort of financing are you getting?

01:42:54:16 – 01:43:15:02
Rod
You and I talked about that before we started recording. There’s a lot of people in trouble, myself included, on a couple deals with bridge debt. You know who’s going to manage the renovation? How’s the accounting handled? You know, when do KPIs go out? This is a bunch of questions in here that’ll help you. You know, in in evaluating a general partner, before you invest in a deal.

01:43:15:02 – 01:43:29:01
Rod
So check that out. It’s at rods links.com. Okay. So, now when an operator brings you a deal, you do your own underwriting as well?

01:43:29:03 – 01:43:37:15
Allen
I do, but I’m not the best underwriter in the world. So I do partner with, with a fellow who looks at for you.

01:43:37:15 – 01:43:53:13
Rod
Okay. Well, thank you for that honesty. Yeah. Same here. I mean, same here. I’m, you know, I’m the mouthpiece. I’ve got a I’ve got a analytical person. I can lock in a room and with a spreadsheet and throw a raw meat in once in a while. And he’s happy. So. Yes, that’s what I, that’s that’s who I use as well.

01:43:53:15 – 01:44:13:03
Rod
You know, you want to play to your strengths, right? And you’re obviously a great communicator or you probably have to push yourself sometimes to do that communication. But when you do start a communication, you know, you’re, you’re you’re it’s a very connected communication. So you know, you’re playing to your strengths there for sure. Well, that’s, that’s that’s, that’s a, that’s a great business model.

01:44:13:03 – 01:44:39:07
Rod
And I will tell you guys, those of you listening, you know, that if you’ve got any sort of a, database of people, if you’re in a group like medical professionals or IT professionals or educators, you know, people that really aren’t going to be exposed to the ability to invest passively in real estate unless they’re educated in that process.

01:44:39:10 – 01:44:56:05
Rod
You know, you could and even if you don’t, you can you can absolutely build that list, you know, through social media these days as well, you know, raising money as a fantastic way to get involved in this business. And, and I teach this at my bootcamps as well, and how to raise the money and how to set all that up.

01:44:56:05 – 01:45:13:11
Rod
But, you know, it’s a fantastic way to get started. And I will tell you, finding the deals isn’t going to be the issue here in the near future. I looked at two deals in San Antonio last week that were being sold for the debt and and my, for my, SEC attorney called me this week and said he just got four new clients.

01:45:13:11 – 01:45:34:04
Rod
Are all foreclosures, in this business. So there’s a meltdown happening right now in the multifamily space. So there’s going to be incredible opportunity. And so, the finding the deals is going to be the issues. It’s raising the money. So, so, you know that, that’s a fantastic way to get into this business. Well, let’s shift gears a little bit.

01:45:34:06 – 01:45:39:17
Rod
Do you do you monitor macroeconomics at all?

01:45:39:20 – 01:45:41:17
Allen
Probably more than I should. Okay.

01:45:41:18 – 01:46:02:02
Rod
All right. Great. All right. Great. Well, then then then let’s have some fun here. I’d love to get your opinion on Trump’s use of tariffs. As it relates to our economy. If you’ve got any thoughts on that, I’d love to. Yeah, I’d love to hear what you think.

01:46:02:05 – 01:46:30:18
Allen
Well, I’ve heard a lot of pros and cons on that, and I’m not an economist, so. Okay, I’m kind of not forming any particular opinion. I’m hoping for the best. Right. But there are certainly, those who I follow who say that, that he has a very definite game plan, even though he seems to be very radical, that he actually does have a game plan.

01:46:30:18 – 01:46:58:22
Allen
Same. And that, And that this is going to be somewhat painful for a while, but in the long run, it is going to be good. And that it actually will bring manufacturing back to the United States. Yeah. Which I think is what, he is hoping for. And of course, the cons, that say that. No, that’s not going to happen.

01:46:58:22 – 01:47:13:29
Allen
He’s going to destroy the economy. There’s no way that manufacturing is coming back to the United States. And so where the, you know, I’m someplace in there. There’s got to be a middle ground. And I’m not sure exactly where that.

01:47:14:02 – 01:47:36:00
Rod
No, I tell you, I’m I’m very, very pro. What he’s doing right now, just, you know, I feel, you know, from what I’m hearing, we’ve been screwed by a lot of these countries for years, and they have their own huge tariffs, Canada being one of them on lumber and, and things like that. And, you know, people are concerned about the impact on consumer pricing.

01:47:36:00 – 01:48:07:07
Rod
But, you know, I, you know, certainly it’s creating some global trade tensions, you know, and retaliatory measures and things of that nature. But, you know, he’s a he’s a extraordinary businessman and he knows how to exert leverage. And he’s already gotten concessions from both Canada and Mexico regarding the fentanyl issue. And they’re each putting 10,000 soldiers at each border, you know, and I don’t know if it’s window dressing or if it’s reality, but we I mean, I personally know someone whose son died from fentanyl.

01:48:07:10 – 01:48:29:28
Rod
And, it’s creating economic uncertainty. But we already have economic uncertainty. Our national debt is insane right now. I mean, I had an economist sitting where you’re sitting right now and and he said something. He said that in the last, four years, the Biden administration, 80% of the currency in circulation was created, like up to that, up to 2020, only 20% of the currency was in play.

01:48:29:28 – 01:48:52:14
Rod
And now we’ve created another 80%. And we wonder why there’s inflation. And and so, you know, I mean, we are headed for a major reset if, if, you know, things like, you know, the Doge, initiatives and minimizing government spending weren’t in place, I think we would be headed for what could be a real reckoning in this country.

01:48:52:14 – 01:49:09:26
Rod
I don’t know if you agree, but I, I feel that way. So I think you know, him exerting some financial pressure on these countries that have that he feels have been taken advantage of us. I think, could be a real positive step. I hope so, let’s hope so. Right.

01:49:09:29 – 01:49:34:25
Allen
We will see before we leave tariffs. Now, I have there are commentators who say that his ultimate plan is actually to to utilize tariffs to do away with income tax. And that he is also leading us back to the gold standard. Well, I wouldn’t that be some things are true or not.

01:49:34:26 – 01:49:35:24
Rod
Wouldn’t that be something.

01:49:36:00 – 01:49:38:08
Allen
Well, some of the commentators are saying, well.

01:49:38:16 – 01:50:05:16
Rod
Yeah I they there was some talk about them, opening up Fort Knox to see if the gold is actually there. You know, I have some gold, thank goodness. It’s in a vault downtown. And, and, and it’s gone up fairly well. It’s been it’s been a nice play for me, but, Yeah. Well, along those same lines, as, as I brought up Doge, you know, we’ve seen Tesla stock get hammered.

01:50:05:16 – 01:50:31:04
Rod
We’ve seen Tesla auto dealerships get attacked and Tesla cars get firebombed and, and Bondi, treating it as, domestic terrorism. And she’s going to make some examples of some, some people that really screwed up here. You know, what are your thoughts on the Tesla stock decline?

01:50:31:06 – 01:50:34:02
Allen
I don’t, you know, I just don’t follow stocks.

01:50:34:07 – 01:50:36:07
Rod
Okay. Fair enough, fair enough.

01:50:36:10 – 01:50:51:12
Allen
So, I mean, it’s a mystery to me why stocks go up and go down, and it generally is just has to do with with rumor and innuendo. It seems to me like. So,

01:50:51:15 – 01:51:21:16
Rod
Yeah. I have to agree with you. I have to agree with you. I think that, you know, he’s upsetting a lot of people. And, you know, a lot of people are losing their jobs, so there’s a lot of anger and angst around that, obviously. I mean, that’s that’s that’s a given. But when you hear about some of these, some of these things they’re discovering, it’s kind of astounding, what, what some of the money was going for, even if only 10% of it’s true, it’s it’s staggeringly disappointing.

01:51:21:18 – 01:51:40:05
Rod
But, you know, I, I am I’m a big Elon Musk proponent. I think he’s a brilliant man. That’s, that’s that’s his heart, whose heart is in the right place. And so I, I, I hate to see this stuff happening, but I, I think it’s, I think it’s all very positive. I I’ll be candid.

01:51:40:05 – 01:51:58:29
Rod
I was very worried for this country, for, for a long time. Based on, you know, some of the economists that I’ve had sitting in that chair telling me what, you know, the fact that, you know, our interest on our debt is more than our military spending. And and not too far off from what we collect a year in income tax.

01:51:58:29 – 01:52:11:19
Rod
I mean, you know, and and so, you know, at some point, you know, it’s common fiscal, understanding that, we’re headed for a train wreck if something doesn’t change. I don’t know if you agree or disagree.

01:52:11:22 – 01:52:37:19
Allen
Well, I mean, my understanding is that we’ve offshored essentially the the debt payment, and that is through, through through the dollar as the, as the world currency, and, and that’s who’s actually paying the debt is not us, but it’s, it’s everyone else in the world. So yeah, there’s great concern about that because, because BRICs is, is a reality.

01:52:37:19 – 01:53:01:22
Allen
I mean, a lot of people I talk to when they go, what’s BRICs? They don’t even they don’t even know really. It’s happening. And and some who know it’s happening are going, oh, it’s, it’s never going to go anywhere. And I’m going, it’s here. Right. It’s happening. It isn’t, a fantasy. It’s happening. What it’s going to do to the dollar that remains to be seen.

01:53:01:28 – 01:53:03:04
Rod
It could be very bad.

01:53:03:05 – 01:53:03:26
Allen
It could be.

01:53:03:26 – 01:53:26:02
Rod
Yeah, it could be very bad, you know, that. You, you see these things where they’re talking about backing it with metal and, and or commodities even, and, you know, in a lot of countries of have have jumped on that bandwagon that I think would love to, you know, exert some control and power over the United States at some point.

01:53:26:04 – 01:53:30:19
Rod
But, yeah, it was that, that that was another very sobering piece. Yeah.

01:53:30:19 – 01:53:37:29
Allen
I mean, the BRICs nations combined have a larger GDP than the G7 do at this point in time.

01:53:38:03 – 01:53:38:25
Rod
No kidding.

01:53:38:25 – 01:53:39:17
Allen
No kidding.

01:53:39:17 – 01:53:48:10
Rod
Wow. I did not know that. So I mean, I know it’s what are some of the largest players? China of course. Saudi Arabia joining.

01:53:48:11 – 01:54:13:26
Allen
Saudi Arabia, Russia, Russia, Nigeria just slightly, which is the largest African economy. Well, Brazil, India, India, Brazil are emerging economies. Yeah. And they’re huge. Yes they are. Yeah. And, there’s I think there’s 13 or 14 at this point in time, but I don’t know. Well which while.

01:54:13:26 – 01:54:16:15
Rod
Those are all the biggest ones, that they’re all the biggest ones.

01:54:16:22 – 01:54:22:21
Allen
Yeah. Indonesia. And yeah, yeah, there’s a lot of emerging.

01:54:22:21 – 01:54:44:16
Rod
Yeah. And you know, if, if, I mean, I know I’ve heard both sides as well, but it’s, it’s very concerning. So what’s next for you? Are you are you, rubbing your hands together gleefully, hoping you find some deals or. Well, you’re not actually the one finding the deals, but hoping your your your partners find some exponential opportunities.

01:54:44:18 – 01:55:23:21
Allen
Well, I, I actually, really got serious about, raising capital, really, just this past summer. Oh, and so that’s when I really opened up, what I call our streams to, Impact Prosperity program, which is a program that is, it’s a boutique, opportunity. And we are really focused upon, professionals and entrepreneurs who are purposeful and passionate about the work that they do.

01:55:23:23 – 01:55:57:28
Allen
And they’re calling and they have probably been listening to, to financial advisors in terms of what they, want to do with their capital. And so they are almost 100% invested in the stock market. And so, I established, this, our business in, last summer, about June of last summer to provide opportunities that are.

01:55:58:01 – 01:55:59:02
Rod
Investing opportunities.

01:55:59:05 – 01:56:37:16
Allen
Passive investing opportunities and alternative assets, like, like, multifamily, including apartments, mobile home parks. But we also are looking at opportunities outside of that, ATM machines and, interest and, car wash, opportunities. And also just recently we’ve opened up some conversations with, some individuals that actually are purchasing, businesses from essentially individuals who are retiring.

01:56:37:16 – 01:56:49:02
Allen
So their high value businesses love that. And, and the returns that they are projecting are just phenomenal, but have a lot of work to do on that. People.

01:56:49:02 – 01:56:54:17
Rod
Yeah. No, that’s that’s a big that’s a, that’s something I’m very interested in as well. I mean there’s a silver tsunami happening right now.

01:56:54:17 – 01:56:55:09
Allen
Exactly.

01:56:55:12 – 01:57:14:08
Rod
A lot of businesses are owned by these baby boomers that are that are retiring. And it is incredible opportunity there. I’m also, very interested in that. You would love to continue, communicating with you about that. I’m very interested in. I always said that if there were two of me, one would be buying businesses for sure.

01:57:14:11 – 01:57:32:08
Rod
Now, of course, someone’s got to run those businesses now, what a lot of, a lot of, people will do is they’ll they’ll keep the CEO involved for a period of time, you know, and have a payout over that period of time, which, which helps in a transitionary period. But, one other thing I’m very interested in is senior housing.

01:57:32:10 – 01:57:49:06
Rod
I mean, there’s not nearly enough beds for our seniors, and it’s something I was interested in. And I’m actually getting into it. I’m going to be raising money for senior deals here, literally in the next few weeks. There’s some phenomenal opportunities because a lot of these facilities, incredible opportunity there as well.

01:57:49:06 – 01:57:50:16
Allen
Yeah, a real shortage there.

01:57:50:16 – 01:58:13:01
Rod
So yeah, for sure. And and, you know, I have an affinity for the seniors, just like I do for children. And, you know, I got I was going to do it. Oh gosh. 20 years ago I got my assisted living administrator’s license here in Florida. And and I was very serious about it. And then you know, I shifted gears into multifamily, but, so let me ask you this.

01:58:13:01 – 01:58:20:19
Rod
You know, I get a lot of listeners that know they want to, you know, do something in this business.

01:58:20:21 – 01:58:21:02
Allen

01:58:21:04 – 01:58:37:17
Rod
You know, they, they, they have a W-2 job. They see the success that people have had, but out of fear or limiting beliefs or whatever, they don’t take action. Could you speak to those people?

01:58:37:19 – 01:59:15:10
Allen
Well, absolutely. And, and, I mean, I come from that background. Yeah. And, and I mean, the reason that they’re, they’re really my avatar is because, you know, I, I love what I do in higher education, and I’m having any desire to not be there. And, and yet there’s opportunities for building wealth, you know, I mean, for instance, the professionals who are passionate about the work of their calling have spent years educating themselves without any money coming in.

01:59:15:11 – 01:59:41:12
Allen
It’s, you know, at a minimum of five. And, you know, physicians in their specialties have taken ten years before really anything comes back, right? So they’re late starting in terms of building their wealth, even though they may have good incomes. They’re behind the eight ball from the get go. And if you chart this out, plumbers who go out of high schools go into their professions immediately.

01:59:41:15 – 01:59:45:09
Allen
They’re way ahead of physicians. Which people people like.

01:59:45:10 – 01:59:48:28
Rod
Yeah, it’s kind of interesting. Yeah. That you think about it that way.

01:59:49:00 – 02:00:15:07
Allen
But but they spend a lot of time in that. They’re passionate about that. That’s where they want to make an impact and a difference in the world. So looking at alternative investments, looks very strange to them because all they’ve ever heard is put your money in your forearm when K is, your, your IRAs, and then your financial advisor will take care of all of that.

02:00:15:07 – 02:00:31:15
Rod
Oh, yeah. That’s. And your financial advisor very often is, is tied to a particular group of stocks and, or opportunities. That and they’re very often a salesperson. Absolutely. But I actually my question was more geared for people that would rather do it actively.

02:00:31:18 – 02:00:32:21
Allen
Okay. Could you could.

02:00:32:21 – 02:00:34:17
Rod
You speak to those people as well.

02:00:34:19 – 02:00:36:12
Allen
For,

02:00:36:14 – 02:00:40:17
Rod
What would you suggest they do if they’re stuck and they know they need to make a.

02:00:40:17 – 02:00:41:12
Allen
Move and they.

02:00:41:12 – 02:01:00:18
Rod
Need. Yeah, maybe they don’t have a lot of liquidity to, to to to to invest. Maybe they’re not a doctor IT professional that has a few hundred thousand. Maybe they’ve got 100,000 or 50,000. They really want to do this actively. But they’re for whatever reason they haven’t taken action. Could you speak to that? That group.

02:01:00:21 – 02:01:29:10
Allen
I wouldn’t listen to, to all the hype about single family. Right. I would go directly into to multifamily. Yeah. And if you’ve got 50, $200,000 and you really want to be in the active side of it, find, a an experienced team. Yeah. To partner with. Yeah. Don’t do it alone.

02:01:29:12 – 02:01:58:07
Rod
No, that’s great advice. And and, you know, which is why, again, my warriors are so successful because there’s dozens and dozens of teams in there, and that’s and that’s really, you know, you’re not going to do these deals by yourself guys. So regardless of you join our warrior program. But get into groups, go to meetups, go to local meetups, meet people that are doing this to identify and find a team that you can add value to, and that adding that value might be finding deals.

02:01:58:07 – 02:02:17:09
Rod
It might be underwriting those deals. If you’re analytical, it definitely could be raising money. And and maybe it’s even if you’ve got construction experience or project management experience, you can be involved in the asset management. But that’s the yeah, that’s what I want. I wanted them to hear it from you instead of from me. Are you involved in the asset management at all or.

02:02:17:09 – 02:02:18:25
Rod
Pretty much just the front end stuff.

02:02:18:26 – 02:02:22:00
Allen
Just the front end, stuff. Okay.

02:02:22:02 – 02:02:26:08
Rod
So you don’t participate in the asset management calls on an ongoing basis or.

02:02:26:10 – 02:02:47:18
Allen
No, I don’t. Fair enough. I mean, I’ve done all that. I was a property manager as well as as a realtor. So I have managed parties and I have done all of that. And, and, you know, like you said, find the team that you want, and there’s all kinds of different things you can do on you, who you are as a person.

02:02:47:18 – 02:02:48:29
Allen
Yeah. If you.

02:02:49:02 – 02:02:51:15
Rod
Oh, I’m so glad you said that. Play to your strengths.

02:02:51:15 – 02:02:52:15
Allen
Yes. Play to your.

02:02:52:15 – 02:03:09:03
Rod
Strengths. I’m so glad you said that. You know, a lot of people feel like they need to build all their weaknesses too low. No, the whole business you don’t when you play to your strengths. First of all, you’re loving what you’re doing because you’re strong at it. And you know, you’re not you know, when you when you love what you do, you never work another day in your life.

02:03:09:03 – 02:03:21:12
Rod
So that’s number one. Number two is you’re going to be passionate about it. And passion is required to influence people. And you’re going to need to influence people. So play to your strengths and hire a line or partner for your weaknesses. Would you agree with that.

02:03:21:12 – 02:03:36:04
Allen
Oh, absolutely. Yeah, absolutely. Yeah. And you know and it if you’re in your W2 job and you just can’t stand it and you want out of it, and a lot of people come into this business because they’re in that situation.

02:03:36:04 – 02:03:37:05
Rod
A rat race. It’s called.

02:03:37:05 – 02:03:59:04
Allen
Yeah. And then you probably do want to go into the active side of it. But if you want to stay in your profession, you probably don’t want the active side. Right? But if you’re going into the active side, take an inventory of who you are as a person. What are your strengths? What are your passions? Yeah.

02:03:59:07 – 02:04:12:25
Allen
And and because there are so many jobs associated with putting together a multifamily deal. Yeah. And there’s something in there that’s going to appeal to you as a person.

02:04:12:26 – 02:04:32:27
Rod
Exactly. I tell people that by boot camps find what your superpower. And I have them getting groups for the introverts. I make them get up and meet people that some of them, I mean, they choke when that happens. But then afterwards they tell me they really appreciate that I push them and I tell them, you know, tell it, introduce yourself, tell them who you are, where you’re from, and what your superpower, what can you add to a group.

02:04:32:27 – 02:04:44:03
Rod
And and that’s how I combine these people. But, in your journey here, did you lean on mentors as part of this process?

02:04:44:05 – 02:05:03:16
Allen
Well, absolutely. I mean, definitely the first, steps I took were with, one with the mastermind, group of people and, and that introduced me to other people on a one on one basis.

02:05:03:18 – 02:05:04:23
Rod
Other operators.

02:05:04:26 – 02:05:19:01
Allen
But, you know, in my podcast, I mean, it’s been so educational for me. It’s not only networking, but it is extraordinarily educational. And every episode I do, I’m learning something.

02:05:19:04 – 02:05:25:01
Rod
Same here, same here. I’ve learned things today with, you know, same here. It’s such an incredible vehicle, isn’t it?

02:05:25:03 – 02:05:25:21
Allen
Yeah, absolutely.

02:05:25:23 – 02:05:52:09
Rod
I mean, I it’s yeah. But, you know, one last question. Because, you know, you’ve you’ve dealt with a lot of mindset related, challenges and, and, and push through the in spite of them. How did you push through. In spite of them. What, what what was the drive or what was the why that caused you to say, okay, I’m going to get past this no matter what.

02:05:52:12 – 02:05:55:27
Allen
I didn’t want to end my life as a failure. Yeah.

02:05:56:00 – 02:06:06:29
Rod
Yeah, we fear failure. Yeah. I’ll tell you. And I also feel like we don’t want to live our life with regret either.

02:06:06:29 – 02:06:07:16
Allen
Yeah.

02:06:07:19 – 02:06:23:07
Rod
You know, we don’t. You know, I don’t know if you heard the story about, that hospice nurse in Australia that asked patients if they had any regrets. And, Briony, where is her name? And she wrote a book about. It’s a bestseller, something like The Five Regrets of Dying. And the number one regret was not living my life.

02:06:23:07 – 02:06:35:03
Rod
Living someone else’s life, not doing what I know I’m capable of. And I can’t think of anything worse than that. And you’ve pushed through some pretty amazing obstacles. So, you know, that’s that’s that’s that’s awesome.

02:06:35:06 – 02:07:00:04
Allen
Well, during that to that 2008, time from 2008 to 2000, essentially 16, I did go back into counseling and, and I talked with, with the therapist about wealth building, and he goes, well, you know, you don’t have to be you don’t have to have wealth to be happy. And I’m going, I know that it isn’t about happiness.

02:07:00:04 – 02:07:19:25
Allen
It’s not about, fulfillment. It’s not about my well-being. It’s that I just don’t want to end my life on a Social Security check. Yeah, and I just wanted more. Yeah, and. And I tell them.

02:07:20:03 – 02:07:36:28
Rod
I mean, you can’t live on Social Security. Good lord. You see, I see these. I see these checkers and and people picking up carts at Publix that are in their 70s and 80s and it’s like, oh my God. And it’s going to get worse because there’s a whole bunch of them coming. Well, listen, I really appreciate you coming down and coming on the show.

02:07:36:28 – 02:07:46:06
Rod
It’s been a real treat to meet you and talk to you and hear your story and, and and you’ve added some tremendous value. And I appreciate you coming down. Thank you for listening.