The Easiest Ways to Buy Large Real Estate Deals in 2025

01:20:15:23 – 01:20:37:03
Rod
Welcome to another edition of Life Time Cash flow through real estate investing. I’m Rod Khleif, and I am freakin thrilled that you’re here. And I never say freakin so I thought I’d throw that in this time. And I got a very interesting guest today who’s got a killer mustache, by the way. And his name is Dallon Schultz. And Dallon is a fund manager, but he’s also co-founder of a of a new CRM called Capitalist Pro.

01:20:37:06 – 01:20:42:19
Rod
And, we’re going to dig into that a little bit and we’re going to hear his story. Welcome to the show, brother.

01:20:42:20 – 01:20:43:22
Dallon
Appreciate you having me.

01:20:43:23 – 01:20:51:11
Rod
Oh, yeah, it’s a treat. So you’ve suffered through me speaking before. You said you you saw me speak at a meetup and you say you’ve been to a boot camp, too?

01:20:51:12 – 01:20:56:23
Dallon
I’ve been to a few of them. I was one out in LA. The one you just had in, Orlando. Orlando? Oh.

01:20:56:23 – 01:20:57:08
Rod
No kidding.

01:20:57:10 – 01:20:57:27
Dallon
Oh, wow.

01:20:57:29 – 01:20:59:04
Rod
Well, do you enjoy so.

01:20:59:04 – 01:21:00:15
Dallon
Oh, yeah. Yeah, yeah, I always do.

01:21:00:15 – 01:21:02:27
Rod
It’s always a great group, isn’t it? You’re raising people.

01:21:02:27 – 01:21:10:28
Dallon
You attractive certain person to your event. And that’s why I keep coming back. They’re very genuine. And, everyone there just wants to.

01:21:10:29 – 01:21:26:13
Rod
Yeah. That’s so cool that you say that. And they say that at my warrior events, too. You know, we’ve got I’ve got coaching students. They’ve got a couple thousand now. It’s crazy. Wow. And and we do these events just for them. And, and people are just blown away by the caliber of the people that that are in my ecosystem.

01:21:26:13 – 01:21:40:12
Rod
It’s just a blessing. But I can’t take credit for it. It’s just a blessing. But listen, welcome and thank you for coming all the way from Phoenix to, to to come on our show here. Why don’t you, tell us who you are, where you came from. What’s your story, man?

01:21:40:14 – 01:21:59:10
Dallon
Yeah. So, like most people in real estate, I didn’t start in real estate. It, something I stumbled into, and, I, I should back up a little bit. I grew up in a real estate home. My grandfather owned a bunch of multifamily units. My dad managed it, but I grew up doing all the dirty work. I grew up doing the grunt work.

01:21:59:13 – 01:22:08:06
Dallon
Always had that summer job, which was nice. I made money through high school, but I never got into the ownership side of it. Didn’t even cross my mind.

01:22:08:08 – 01:22:16:16
Rod
So after the great framework, though, you’re working on the properties, you get to see all the crap that you deal with and and learn from it, right? Yeah.

01:22:16:16 – 01:22:32:23
Dallon
But it also show me that that’s not what I wanted to do with my life, right? I mean, I remember waking up three, 4:00 in the morning. This was in upstate New York, going out to shovel snow off the sidewalks and ice the sidewalks and then shingling roofs in the middle of summer, where the humidity. I’m just like, this isn’t for.

01:22:32:23 – 01:22:33:27
Rod
Me. There are better things.

01:22:33:27 – 01:22:52:07
Dallon
There are better things. But something internally, I always had a desire to get back and to make a difference. So I was actually drawn into the medical field and not a fan of school, so I didn’t want to go. The doctor route and talk to a couple of people that were registered nurses. And I was like, cool, a little less school.

01:22:52:08 – 01:23:04:13
Dallon
I could still provide for a family. I could specialize, make a few hundred thousand, and then in my 40s, 50s, then maybe I could own some real estate. So that was a that was a plan. That was the path.

01:23:04:13 – 01:23:05:23
Rod
Did you become an R.N.?

01:23:05:25 – 01:23:06:22
Dallon
I did, I got my.

01:23:06:26 – 01:23:08:12
Rod
Schooling with that. There’s some schooling.

01:23:08:12 – 01:23:22:27
Dallon
Yeah, I got my bachelors then. And I mean, most bachelors are for years, but you have to do all the prereqs. So this was 6 or 7 years. Wow. That’s cool to begin with. And I wanted to specialize. I wanted to be a nurse and ethicist, put people under anesthesia when they went in for surgery, go.

01:23:22:28 – 01:23:24:07
Rod
With them when they way.

01:23:24:10 – 01:23:34:03
Dallon
Right. Because I mean, they’re the ones that’s the top pay scale. Okay. Yeah. If you wanted to go that nursing route and you can easily make 2 or 300,000 a year, nice. That’s good money.

01:23:34:06 – 01:23:40:14
Rod
Well, that speaks to your heart too, brother, because, you know, anybody that I’ve ever met that’s gone into that field is a beautiful heart. So I.

01:23:40:14 – 01:23:41:11
Dallon
Appreciate that.

01:23:41:13 – 01:23:41:23
Rod
Yeah.

01:23:42:00 – 01:23:58:21
Dallon
So, yeah, I went through put my wife through nursing school first. That’s actually where we met. And, and then she put me through, and I started working in the emergency room in the town that we lived in. And a few months into that career, I don’t I don’t know, it was probably just a shitty shift. That’s probably what it was.

01:23:58:24 – 01:24:15:29
Dallon
And I started thinking about my future and I’m like, where do I want to be really be in ten, 15 years if I specialize, if I spend a few hundred thousand dollars more on my education, is this really what I want to be doing for the rest of my life? And it was it was it was weird and incredible.

01:24:16:01 – 01:24:39:08
Dallon
Me epiphany I, I felt claustrophobic, like when I, when I flashed forward, I felt like the walls closing in on me. And right around that same time, unfortunately, I broke my leg playing soccer. My tibia broke it all the way through. I got a weird little, hernia there, and now that ball is out, and, And that put me that put me out of work.

01:24:39:14 – 01:24:44:17
Dallon
This. So this was a couple months into my new job, making the most money I ever made in my life, which was.

01:24:44:17 – 01:24:45:18
Rod
Just two months in.

01:24:45:24 – 01:24:46:02
Dallon
Yeah.

01:24:46:03 – 01:24:46:25
Rod
That’s cool, that’s cool.

01:24:46:26 – 01:25:06:22
Dallon
2 to 3 months in. Wow. My wife and I had two kids at the time. We have four now, and I remember laying there in the air that I worked at, by the way. And, and when they came in, it’s like, yeah, it’s it’s broken. It hit me, a wife, two kids. How am I going to take care of my family?

01:25:06:25 – 01:25:23:09
Dallon
The whole reason I got into the medical field was because people were going to get sick and hurt. It was. There was a sense of security and I could provide value there. I failed to realize what would happen if it was me. And, and I realized in that moment something had to change and something had to shift.

01:25:23:09 – 01:25:45:03
Dallon
So I started getting into books and podcast, and that’s when I stumbled into your podcast. This was back in 2017, 2018. Yeah. And, read Richard, poor dad. Classic. Two weeks after reading that book, we bought our first fourplex with owning and without any of our own money. This was in eastern Arizona. Okay, okay, first fourplex without any of our own money.

01:25:45:07 – 01:25:48:03
Dallon
And it it clicked. I was like, this is it.

01:25:48:03 – 01:25:53:03
Rod
So break down how you bought. I do a fourplex. Nothing down. That’ll add value right there.

01:25:53:06 – 01:26:11:00
Dallon
Yeah. So we actually called up an old landlord. It was a lady my wife and I rented from, and, she was past retirement age. So I was like, if anyone’s going to want to sell her property, it’s probably her. So I called her up and she said, hey, Dylan, it’s great hearing from you. We’re not looking to sell, but the guy next to me is.

01:26:11:02 – 01:26:35:19
Dallon
So she gave us his number. I called them up. Two days later, we walked the property and he was asking 200,000 for a fourplex. 50,000 a door. And, he owned it outright, so he said, I’ll carry the note. I’ll carry 175,000. You guys just need to put $25,000. Great. We don’t have 25,000. So I went to a family member, my grandfather, who owned the real estate that I grew up with.

01:26:35:21 – 01:26:53:29
Dallon
And so since he knew the real estate and he had seen me grow up working in it, he had that confidence in me to take on a fourplex. So he loaned us the 25 K, my wife and I, and my brother in law at the time. And and so that’s how we got into 100% leveraged. I want to recommend that to anyone.

01:26:54:02 – 01:26:56:16
Rod
Yeah. It’s tough to cash flow when you’re 100% leverage.

01:26:56:16 – 01:27:15:27
Dallon
It is. And, and you don’t know what you don’t know, there’s a certain level of ignorance that I think gets a lot of us entrepreneurs taking that next step. But we got into it and, and my brother in law was a contractor, so we it kept the work in-house. I had that experience doing some of the maintenance and the management with my father.

01:27:15:29 – 01:27:17:25
Rod
Did you move in it or. This was a straight rental?

01:27:17:26 – 01:27:25:08
Dallon
We don’t. Yeah. And, and we knew we weren’t going to be cash flowing much, but we don’t care. We just we knew we had to get into that first deal.

01:27:25:10 – 01:27:47:14
Rod
By the way, guys, you know, if you’re going to go direct to seller, ninja trick, I talk about this in my bootcamp, but focus on people that have owned 20 plus years because they’re going to be retirees. That property’s likely going to be free and clear. They have no tax benefits left. So when you approach them, you can say something like, you know, hey, you know, if you sell this property for 200 grand, you’re only going to net maybe 150 after Uncle Sam.

01:27:47:18 – 01:28:02:01
Rod
But if you carry, you’re going to only pay taxes on what you get from me and payments every month. And, and, you know, most of these retirees put their take the money they get from a big sale like that. They’re risk averse at that point. So you can put it in the bank. And what’s the bank plan?

01:28:02:01 – 01:28:14:28
Rod
Right. So you offer them better interest rate. They’re not paying taxes except on the money they receive every year. It’s a home run for them. If you don’t have the conversation with them candidly, you’re doing them a disservice. So just, please continue. So you bought the fourplex?

01:28:14:28 – 01:28:25:21
Dallon
Yeah. Then a couple months later. So it was a it was on a street where there was a bunch of four plex was created. They are all individually owned, and there was one right across the way. And we’re like, man, it’d be cool to grab that one too.

01:28:25:22 – 01:28:26:09
Rod

01:28:26:12 – 01:28:39:27
Dallon
Two months later came up on market and we snatched it. So within a couple months we had eight units and I was like, this is it. I’m going to be the four plex king. Yeah, yeah. And, and that’s, that’s when I knew real estate was what I wanted to do for the rest of my life.

01:28:39:29 – 01:29:01:01
Rod
Let me interrupt you for a second. So the only caveat with that four plex is are fantastic. They’re considered residential. And if you move in hell, you can get 97% financing. 95 with Fannie Mae, and, fixed 30 year financing, fixed interest rate. Fantastic way to get started, number one. But the only caveat there in the negative, there’s a couple of negatives.

01:29:01:01 – 01:29:21:05
Rod
One is the values based on comparable sales which you cannot control. You get into five units and higher the values based on a multiple the net income. But so that’s that’s one caveat. The second big caveat is you can’t dictate how well other owners take care of their properties. Right? So if you’re in a bunch of four plex is and you’ve got crap on the street, not a damn thing you can do about it, right?

01:29:21:06 – 01:29:22:19
Rod
So anyway, please continue.

01:29:22:22 – 01:29:43:29
Dallon
So this was before I even knew about funds and syndications. And so, it was shortly after that second one we got put on to a conference that we attended, and that’s when Syndications and funds were introduced to us the first time. And again, something my brain just clicked like it makes so much sense to go bigger.

01:29:44:01 – 01:30:00:00
Dallon
And so at that point we stopped buying because I was like, if we’re going to get into these larger multi-million dollar deals, I actually got to know what I’m doing. Like I got into these two four plex is I just bootstrapped it, figured it out. But if we’re going to be taking on investor capital and getting into large deals, we go.

01:30:00:01 – 01:30:02:14
Rod
You don’t dabble, you know, with other people’s money, right?

01:30:02:14 – 01:30:08:15
Dallon
You don’t dabble. So we stopped buying and we just went fee first for about 12 to 18 months.

01:30:08:15 – 01:30:10:11
Rod
In education you say we.

01:30:10:14 – 01:30:13:10
Dallon
So this was me and my brother in law got same brother in law.

01:30:13:10 – 01:30:14:21
Rod
Got it. Okay.

01:30:14:23 – 01:30:29:25
Dallon
And and so we jumped in 12 to 18 months. Just education just just going, going, going. And and then that led into our next eight unit with a development deal that we, we started working on. And then we got into some syndication.

01:30:29:25 – 01:30:33:06
Rod
So you bought an eight unit, but what was the development deal just call.

01:30:33:10 – 01:30:35:00
Dallon
It came with an acre of land. Okay.

01:30:35:06 – 01:30:36:23
Rod
Actually something on it.

01:30:36:26 – 01:30:49:20
Dallon
So we were planning on it and, we got, we got it zoned for 30 units, 30 additional units. And when we were getting ready to, we got entitlements in place and everything. And then we got an offer for two.

01:30:49:20 – 01:30:51:12
Rod
Good to leave too. Good. I got, I.

01:30:51:13 – 01:31:01:06
Dallon
Got it got. So I mean we owned it for 14 months. Got all that work in place, remodeled some of the units and we got an offer for more than twice than what we paid for it 14 months earlier.

01:31:01:08 – 01:31:04:15
Rod
So sometimes you got to take the chips off the table when it’s good. Okay.

01:31:04:15 – 01:31:15:17
Dallon
Yeah, but but when that same purchase, there were about two and a half acres of commercial land that came with it. And so we did develop that into an RV and self-storage development, ground up.

01:31:15:19 – 01:31:23:07
Rod
Ground up, ground up. So so talk about what you bought. Okay. RV storage where they fully enclosed.

01:31:23:09 – 01:31:25:12
Dallon
So this was this was dirt okay.

01:31:25:12 – 01:31:27:13
Rod
Right. We love dirt. But what did you build.

01:31:27:19 – 01:31:32:08
Dallon
So we bought some drive up storage units okay. Most of it was open parking.

01:31:32:08 – 01:31:49:10
Rod
Gotcha. Okay okay. So just open. I just interviewed a guy that builds, like 20 by 40 or 25 by 50 and closed. So he doesn’t build them. He gets, you know, a metal fabricator to put those in. I thought, what a great idea. Great for businesses to have offsite storage. Yeah. And so I was really I really was intrigued by that conversation.

01:31:49:10 – 01:31:54:25
Rod
That’s why I don’t post the same thing here. Okay. Well that’s awesome though. That’s good money. That’s good cash flow on vacant land.

01:31:55:00 – 01:32:25:21
Dallon
Yeah. Yeah. So we we went through that. I had a full head of hair before development. I don’t recommend it to anyone. Unless you have the right partners and the experience. And, we again, we bootstrapped that. So, we decided to stop bootstrapping and, and, going back to why I got into the medical field, I, I like making an impact and the impact that the realization and education I received on real estate, knowing that normal people like me could get into these large assets.

01:32:25:24 – 01:32:37:00
Dallon
I started putting out more content, information, educating people in our network, and we decided to focus more so on the capital side of the business and then partner with kickass operators.

01:32:37:01 – 01:32:52:23
Rod
Okay, so you GP code GP. Yeah, basically. Yeah. And so guys, what a lot of people will do this where they’ll find and this is what happens in the warrior group all the time. You know, if you can find deals and bring those to a group or find money and bring that to a group, you’re in. Okay.

01:32:52:23 – 01:33:08:04
Rod
And so and that’s called cog. Now you can’t just raise the money though. You’ve got to actually be involved in a lot of other things to make it legal, to be able to legally do it. But so you, you decided to raise money for, for seasoned operator deals?

01:33:08:04 – 01:33:13:01
Dallon
Yeah, we did two deals, and then we decided to do our own fund of funds. Gotcha.

01:33:13:01 – 01:33:26:16
Rod
Yep. But the fund of funds is investing in other people’s deals as well. Correct. Okay. Okay. So you’re still different structure, right. Just to structure. Well no it’s not GP. That’s right. It’s a fund of funds. Got it. Okay. Yeah. Explain the difference.

01:33:26:18 – 01:33:38:09
Dallon
So what the code GP you’re on the general partnership. You’re on those calls updates. So with our fund we come in as a single LP. Gotcha. So we don’t code GP with the operators. They like it because there’s.

01:33:38:09 – 01:33:39:06
Rod
No management control.

01:33:39:06 – 01:34:00:14
Dallon
There’s no man like they just we’re talking to that and we know what they’re getting involved in. We do all the vetting and due diligence for our investors. And then whenever there’s communication it’s us in the GP. And so it’s streamline, it’s more efficient. We don’t come in on any operation side or decision. And so because of that, we do we go through quite a bit of vetting for our operators.

01:34:00:16 – 01:34:03:05
Dallon
And and they like it because we just come in as a single.

01:34:03:08 – 01:34:18:21
Rod
LPN and you and you can cut a little better deal. There’s a spread typically in there like, like you’ll, you’ll receive a certain return and, and and there’s a little margin between that and what the investors in the fund get. And that’s, that’s your skin and or your booty.

01:34:18:21 – 01:34:27:09
Dallon
And when you’re, when you’re investing more money into these deals, a lot of operators, they’ll provide maybe a higher split or a higher. But because you’re investing bigger returns.

01:34:27:09 – 01:34:48:20
Rod
So the split is the promote guys. That’s what it’s called. And it can be anywhere from 5050 to 8020. Typically in faith, the larger number in favor of the limited partners, the equity in the deal. And and so, yeah, if you bring in a larger chunk that can get negotiated higher, and and then there’s a pref is the preferred return which comes off the top.

01:34:48:20 – 01:35:16:24
Rod
And that can be anywhere from 6 to 8% is common. And and that that money is paid to the limited partners first before there’s any splitting. And so that’s why, you know, most syndication deals, there’s not a lot of cash flow until the property, either trades as a, as a, as a sale or it’s, you know, the BR method, you know, buy it, remodel it, refinance it, get the investors all or most or money back and then and then keep it.

01:35:16:27 – 01:35:30:19
Rod
So okay. And so you’ve, you’re doing that you do the fund of funds. Talk a little bit, about how you find investors because you told me you used to have a meet up. So let’s let’s go down that pathway.

01:35:30:20 – 01:35:36:09
Dallon
For a minute. So, I, I like getting on stages. I like I like talking, I like, and.

01:35:36:09 – 01:35:40:25
Rod
This is a stage, by the way, guys, this podcast interview right here is considered a stage.

01:35:40:27 – 01:36:06:27
Dallon
I love that you brought that up, because a lot of people think that it’s life. Right? But this is a virtual stage. Sure. And it’s a one to many. Right. And so we, back when I decided to go all in with Syndications and large multifamily, there wasn’t a good monthly meetup in the Phoenix area. I mean, there was a few of them, but you’d have 15, 20 people.

01:36:06:27 – 01:36:30:06
Dallon
You show up at a bar, casual networking. I wanted to take kind of that conference feel that I got from bootcamps like yours and some other events, and bring that into one night, like, how could we do that? So we launched the Rapid Multifamily Meetup, and we became the largest monthly gathering in Arizona focused on apartment investing. We had a Robert Kiyosaki show up a couple times it, which was really cool.

01:36:30:06 – 01:36:30:21
Rod
Yeah, he lives.

01:36:30:22 – 01:36:32:16
Dallon
There and and probably.

01:36:32:16 – 01:36:35:14
Rod
The real estate guys, they probably had them show up.

01:36:35:15 – 01:36:43:23
Dallon
No not not. Yeah. But we, we actually have Russell Greg coming on our podcast here in a couple of weeks. Yeah, yeah. So so yeah, it’s I.

01:36:43:23 – 01:36:44:17
Rod
Live there too I think.

01:36:44:21 – 01:36:51:10
Dallon
Yeah. Yeah, yeah, they do. So yeah, we, we started that stage because we kind of, we couldn’t find a good one. And I was like.

01:36:51:13 – 01:36:53:12
Rod
Zach wasn’t around at that time or.

01:36:53:14 – 01:36:56:23
Dallon
He was, but his was phasing out at that time as well.

01:36:56:25 – 01:37:05:09
Rod
Zach happened. So I was another guy went to Phoenix and spoke at his event. But he doesn’t do it anymore. But anyway okay, so so you started doing it, but you stopped after a while.

01:37:05:15 – 01:37:13:18
Dallon
We did. We did. Our focus shifted a little bit in the business. That was really heavy on apartment education, networking.

01:37:13:21 – 01:37:16:15
Rod
We wanted on raising capital.

01:37:16:17 – 01:37:18:04
Dallon
No. No, now it is.

01:37:18:05 – 01:37:20:27
Rod
Oh, now it is. Oh. Back then it wasn’t. It was just education.

01:37:20:28 – 01:37:22:19
Dallon
General education. So that’s.

01:37:22:19 – 01:37:23:03
Rod
Beautiful.

01:37:23:08 – 01:37:27:18
Dallon
So it was it was a lot of work, a lot of effort. I mean, you you put on three day events.

01:37:27:18 – 01:37:44:07
Rod
That’s that’s that’s what I do as well. No, but I admire that because you took it from that angle. Because anytime you add value, you know, the people that had the most value in this world are the most successful. They’re the wealthiest. Look at Bezos and Amazon. Look at jobs and Apple and Elon. I mean, they had tremendous value.

01:37:44:07 – 01:37:56:03
Rod
And so, the fact that you started out with adding value, I did the same thing on this podcast. When you first listen to this podcast, I used to say, I’ll never sell you anything, and I’m a freaking liar. We sell everything I never planned to. You know, you want to make God laugh. You tell me your plans.

01:37:56:03 – 01:38:11:19
Rod
But I used to do free phone calls with my listeners. 30 minute calls I did. Hundreds of them. Didn’t have anything to sell. I just added value. And I think that was a big catalyst for, you know, the fact that now we’re the biggest, but so you added value, you did your meet ups and then you shifted.

01:38:11:20 – 01:38:11:29
Rod
Yeah.

01:38:11:29 – 01:38:15:28
Dallon
And the meta helped with our brand and our name. Of course, nobody knew who we were.

01:38:15:28 – 01:38:16:24
Rod
Builds. Incredible. Good.

01:38:16:24 – 01:38:33:27
Dallon
Well, yeah. And that’s actually how we got into our first couple syndication, because people saw the event that we were hosting, the network that we were creating around it, and we weren’t selling any coaching or anything like that. And you just come and learn. That’s great. Come and learn. And, it was just it was a lot of time, a lot of effort and focus shifted a little bit.

01:38:33:27 – 01:38:45:17
Dallon
And it was one of those tough decisions where we had a way out the time and energy and money spent on those things. And, that’s a big commitment. It is. And, and it was monthly too.

01:38:45:17 – 01:38:47:28
Rod
So. And it’s more time than anything else can time.

01:38:47:28 – 01:38:58:24
Dallon
Yeah. It was, it was and it was, it was actually a very, very hard decision because I found some of my identity in those events. Sure. And, by the.

01:38:58:24 – 01:39:23:19
Rod
Way, I want to add something there which this is very important. Okay, guys, whenever you get into a business or buy a business, never make it your identity. And here’s why. Because if it fails, you’re a failure, okay? It is always your vehicle. Okay. That way if the vehicle fails, that’s okay. And you, you know, but you have to be very, very careful because I’ve had, you know, I’ve built 29 businesses so far and I, you know, I call them seminars when they fail.

01:39:23:19 – 01:39:31:12
Rod
Most have been spectacular flaming seminars, but you never allow it to. You’re not a failure. That business, just not you. I just wanted to throw that in there.

01:39:31:12 – 01:39:50:03
Dallon
That’s an excellent point. And, you know, you I think with time business owners realize that, and, that that was earlier on. But yeah, but yeah, we, we decided to pivot out of that and decided to just start focusing on on the relationships and providing value and, and educating and, and that’s where we’ve been spending.

01:39:50:06 – 01:39:53:29
Rod
So, so, but you’re thinking about starting it up again.

01:39:54:02 – 01:39:54:19
Dallon
Correct?

01:39:54:19 – 01:39:55:00
Rod
Yeah.

01:39:55:04 – 01:39:56:16
Dallon
Correct. Yeah.

01:39:56:18 – 01:39:57:09
Rod
Fantastic.

01:39:57:12 – 01:40:14:23
Dallon
We met at the people are asking for it. Yeah. Again, there’s not a good monthly event there in Arizona, so no brainer then. Yeah. So we’re going to start it back up at this time since our focus is more on capital raising. Sure we’re going to keep the emphasis on it more capital raising rather than all.

01:40:15:00 – 01:40:32:00
Rod
I will tell you, the education will lend itself to capital 100. So it kind of goes hand in hand candidly. Now, I know you had a podcast called The Millionaire Mind. Millionaire Mind, Millionaire Mind, but you’re not no longer doing that. Yeah, okay. And now you’re going to do a new one called the Capital Flow Podcast.

01:40:32:00 – 01:40:33:17
Dallon
Capital Flow podcast I love it.

01:40:33:17 – 01:40:35:27
Rod
You’re going to bring in fund managers and you’re going to.

01:40:35:27 – 01:40:38:01
Dallon
Bring in bring Radcliff into that.

01:40:38:03 – 01:40:39:29
Rod
Are you okay? All right.

01:40:40:02 – 01:41:10:20
Dallon
Yeah. Yeah. So that that podcast and then the meetup is a capital flow meetup. And so we, we have this this thought, this mindset around attracting capital rather than raising capital. And so the term capital flow, the idea there is that you create a magnet, you attract that capital that flows to you. And so on the podcast and the meetup, it’s going to we’re going to be having fund managers, operators talking about how they’ve raised money successfully.

01:41:10:20 – 01:41:11:05
Dallon
Sure.

01:41:11:08 – 01:41:34:09
Rod
No, I mean, listen, when you add value, you attract. And that’s just how God works. And so now I love it. And and yeah. Know that that’s that’s and I’ll tell you, you know, my coaching students, my warriors, they I think they own now 250,000 doors and, and I’ve got dozens of meetups inside that community. There’s dozens of podcasts.

01:41:34:09 – 01:41:58:11
Rod
There’s dozen just ways to add value. There’s LinkedIn groups, there’s Facebook groups, there’s YouTube channels. All these warriors doing all sorts of things, adding value. And that’s the two things, guys, when if you’re going to do this and create reach, you have to do two things. You have to add value and you have to be consistent. You know, I’ve, I’ve, I think I’ve maybe missed two podcast episodes out of over 1000 and and never been a couple times I’ve been really sick.

01:41:58:11 – 01:42:00:06
Rod
But you got to be consistent. You agree with that.

01:42:00:09 – 01:42:16:17
Dallon
100%? Yeah. And you got to show up and and what people don’t realize, like whether you’re doing podcast, whether it’s your own, you’re getting on somebody else’s, you’re hosting a meetup like we did, which I don’t know if that, if that should be your first move because it is a lot of work. But yeah.

01:42:16:20 – 01:42:33:23
Rod
But the nice thing about the nice thing, it is a lot of work. But you can act as if, okay, you know, there’s that act as if fake it till you make it. Because if you’re the host, you’re perceived as being an expert, even though very often you’re just bringing in experts, you’re bringing in people and just have to ask good questions.

01:42:33:27 – 01:42:51:11
Rod
Hundred good interview questions. You know, I I’ll tell you, I had, imposter syndrome when I first started this podcast. I’d only done a few apartment complexes and actually had not done a syndication when I first started this thing. Well, and, and, you know, I just brought in hitters and faked it till I make it, you know, and.

01:42:51:11 – 01:43:07:19
Dallon
That that’s what’s great about having a stage of your own. Like, I get it’s more efficient to go on other people’s stages. But having a stage of your own, the the greatest value I ever received from that was connecting with people that people. People that I in that time, I felt like I had no business connecting. Right.

01:43:07:22 – 01:43:21:02
Dallon
But since you have a stage, what do people like talking about themselves, right? That’s right. And so you have a stage. You invite them out, you bring people out, they provide value. And that’s really what got us on the roadmap early on was just having that stage again.

01:43:21:02 – 01:43:39:21
Rod
Guys, it’s it’s not that hard to do. And I spent quite a bit of time on this at my bootcamp, but it’s just creating a brand and and adding value and being consistent and just going to whatever vehicle in social media or thereabouts that, that appeals to you. But you got to do video. I mean, you’re just going to have to be okay with doing video whether you like it or not.

01:43:39:21 – 01:43:41:13
Dallon
I, I agree 100%. Yeah, I.

01:43:41:13 – 01:43:48:03
Rod
Mean it, you know, some people like to write and stuff, but yeah. No you got to do video now. Are you guys utilizing AI at all.

01:43:48:06 – 01:44:00:11
Dallon
Not yet. Yeah we’re using we’re integrating some I mean outside of ChatGPT right. Like yeah. Right. So we’re we’re this year will likely come out with an appointment center AI chat bot.

01:44:00:13 – 01:44:01:13
Rod

01:44:01:16 – 01:44:09:10
Dallon
So it’s in the works. But again, when you’re trying to build relationships with someone that’s going to write you a $100,000 check, you, you gotta try.

01:44:09:13 – 01:44:13:18
Rod
You pretty much got to talk to them. Yeah, yeah, yeah. They’re not going to want to talk to an AI. Yeah.

01:44:13:18 – 01:44:18:01
Dallon
So when we do integrate it, it’s going to be more so on the front end as a gatekeeper.

01:44:18:01 – 01:44:18:09
Rod
Gotcha.

01:44:18:09 – 01:44:36:27
Dallon
Because you and I understand our times the most valuable thing to us, we’ve probably had calls with people that we felt like just wasted the time. Sure. What if we could have vetted them ahead of time? Sure. So that’s likely how we’ll come out with it initially. But it’s it’s it’s incredible the things I’ve seen.

01:44:36:27 – 01:44:54:05
Rod
I mean, in fact, there was a video clip of me and he found some AI, and we had to change the I think it was the dates and the location of my bootcamp. And I’m like, wait a minute, that’s not me saying that. It look just like me saying that shit mouth was moving the whole thing. I was like, Holy crap.

01:44:54:05 – 01:45:04:25
Dallon
So that brings up a really good point, and I think AI is going to be an incredible tool. I don’t think it’s going to make anyone a superstar. They’re already going to be a star and then it’s going to help accelerate things. But I think.

01:45:04:25 – 01:45:20:21
Rod
I want to stop you. I just saw I just saw, oh, God. Who’s vayner? Chuck. Okay. Said he thinks that there will be AI influencers eventually. Like like in their future. Like AI, complete AI influence. Anyway, I just want to literally saw that yesterday. That’s why I didn’t say that.

01:45:20:21 – 01:45:36:00
Dallon
Yeah, I will tell you. Yeah, yeah, but what I, what I’m recognizing and this is, I mean, with or without AI, what I’m recognizing is the need to get in person like this. Oh, yeah. Yeah. Right. Like, so I think I can be a great way to get some more exposure. Same thing with social media. You’re getting yourself out there.

01:45:36:00 – 01:45:49:06
Dallon
You’re getting your face, your voice heard. It’s going to get to a point, though, where people aren’t going to know if they’re working with you or me. And so I my belief is that deals are going to start getting done when a handshake, an actual handshake is made.

01:45:49:06 – 01:46:05:25
Rod
I think you could be right because you don’t know. Honestly, you don’t even know what to believe anymore. Don’t get me started on all the political crap you know, and all the misinformation that you see. You know, like, everybody thought Elon was going to have some commercials at the Super Bowl. I was watching the Super Bowl just to see Elon’s commercials, and it was all bullshit.

01:46:05:25 – 01:46:15:25
Rod
It was social media bullshit. In fact, I had people call me say when Dylan commercials going, I mean, it was a big deal. I don’t know if you heard about it or not, but it was all over social and they didn’t. And it was just bullshit.

01:46:15:29 – 01:46:16:06
Dallon
Yeah.

01:46:16:06 – 01:46:28:08
Rod
So anyway. But, yeah. So no, I think that’s a very good point. It probably will it, it that won’t solve the, the money raising thing. It’ll have to be an in person no relationship.

01:46:28:08 – 01:46:32:24
Dallon
I mean most minimums for the types of deals you and I do is 50,000.

01:46:32:24 – 01:46:34:09
Rod
5050. I mean.

01:46:34:09 – 01:46:53:10
Dallon
80% of Americans make $100,000 or less per year, right. And so trying to connect with people that are investing at minimum 5100 K, I think you can initiate that relationship online, but I think you finalize it, whether it’s through a live zoom call or in person if possible.

01:46:53:10 – 01:47:13:16
Rod
I agree completely. So let me ask you this. You know, you know, you know better than most having suffering through my podcast for as long as you have that, you know, there are a lot of brand new people that that are listening, that know they want to do something. They know that, you know, they want to get out of the rat race, or maybe they’re just comfortable, but they they know they need to get a little uncomfortable to really create the life that they want.

01:47:13:18 – 01:47:16:00
Rod
What advice would you have for them?

01:47:16:03 – 01:47:17:05
Dallon
Learn how to network.

01:47:17:05 – 01:47:18:17
Rod
Yeah.

01:47:18:20 – 01:47:37:24
Dallon
That first event I went to, I went there for education. I didn’t realize networking was a thing or necessary, especially for those that are doing it like D 5 or 6 B deals. You need to have that preexisting relationship, right? So I went to this first event. Break time hits and everybody stands up and they start exchanging business cards and they’re talking.

01:47:37:24 – 01:47:40:07
Dallon
And I was terrified.

01:47:40:07 – 01:47:41:21
Rod
I said, mine or somebody else’s.

01:47:41:22 – 01:47:42:07
Dallon
It was somebody.

01:47:42:07 – 01:47:42:13
Rod
Else.

01:47:42:14 – 01:48:05:19
Dallon
Okay, okay. Yours was shortly after though, which I actually recommend more than the other one, but we’ll leave it at that. Okay. But I people started networking and I was terrified. I was like, what are you doing? Sit down. You’re making me feel uncomfortable. But then I started learning about the SEC regulation and having those relationships and realizing that if I wanted to get to where I wanted to go, I had to connect with people that were already there.

01:48:05:24 – 01:48:13:15
Dallon
That requires networking. Sure. And I refer to myself as that extroverted introvert. Oh, okay. But the type of person. So.

01:48:13:17 – 01:48:22:07
Rod
Well, I’ll tell you something, you know, and I tell people, the brand new warriors, this new students and then my boot, you know, my boot camp, I make people get up a network and I make them get uncomfortable.

01:48:22:08 – 01:48:23:03
Dallon
It’s good. Yeah.

01:48:23:03 – 01:48:38:10
Rod
And, and, you know, I typically put a map up of the United States, and I say, go to the map where you live so you can meet people that live near you and force it. And people have come up to me afterwards, serious introverts and said, you know, thank you for pushing me because this business is a team sport.

01:48:38:10 – 01:48:54:00
Rod
I mean, it personally is not just the operational piece of it, not just the, you know, you’re not going to go by 100 unit complex by yourself, period. So you’ve got to have, you know, the team, the internal team, but also the investors you bring in. You got it. You’ve got to go out there and network. And I don’t like it either.

01:48:54:00 – 01:49:00:14
Rod
Candidly, I’m pretty good at it, but I don’t like it. It’s it’s uncomfortable for me to small, you know, small talk and stuff.

01:49:00:14 – 01:49:04:01
Dallon
Like that drains me. I can do it. Like even going to these conferences. Tours.

01:49:04:04 – 01:49:05:24
Rod
Are you definitely an introvert? If it drains you.

01:49:05:24 – 01:49:10:16
Dallon
I’m like, I’m on a high during those three days, but then it always takes me a day or two.

01:49:10:18 – 01:49:14:13
Rod
So you get energy from being alone?

01:49:14:15 – 01:49:31:00
Dallon
Not necessarily. No. Okay. I’m energized by people. Like if I’m in a group outside of real estate or mindset. Yeah, I’m shut off. Okay. Forget it. Okay. But since real estate mindset, personal growth, since that’s a passion of mine, it brings that energy out, but it still drains me.

01:49:31:01 – 01:49:38:23
Rod
Gotcha. Yeah. Introverts typically get energy from being alone. Extroverts like me, I need to be around people. I just go to the mall and walk around and I feel fantastic.

01:49:38:23 – 01:49:41:05
Dallon
I need a good balance. I need a good. Okay, well that’s good.

01:49:41:06 – 01:49:47:04
Rod
That’s fantastic. So so so networking it would be a suggestion and network.

01:49:47:05 – 01:50:05:07
Dallon
Networking to figure out how you could provide value to valuable people. And so not just going out and saying who you are and what you do. That’s good. That’s part of networking. Get to know people for who they are. And if you’re if you’re uncomfortable, if you’re an introvert, you don’t know what to say. Ask questions. It’s really that simple.

01:50:05:07 – 01:50:08:03
Dallon
Yeah, just ask questions about that person and get to know them.

01:50:08:06 – 01:50:29:01
Rod
Go read How to Win Friends and Influence People. And that’s the premise of that book, is just have a genuine interest in the other person. Ask them questions, and through those questions, you can guide the conversation. And they think it’s the greatest conversation they ever had because they’re doing all the talking and and, yeah. In fact, you know, I remember going to a, a family office event, lewises.

01:50:29:01 – 01:50:46:24
Rod
And, in Miami and there were, you know, these billion dollar family offices there. And I was intimidated. This is early on, and I had a pocket in my back pocket. I had an index card with questions on it so that, you know, and I had five seconds of courage. Hi. I’m Radcliffe. I don’t think we’ve met. That was my line.

01:50:46:27 – 01:50:53:06
Rod
And then I’d have that, review those questions. So I didn’t fumble, and I would just ask questions. And that’s how you get through it.

01:50:53:08 – 01:51:12:28
Dallon
And you realize people are people. Yeah. At the end of the day. And one of the things that really drew me into the multifamily space was just the quality of the person. Like, they’re they’re the type of what I would refer to as, like the blue collar millionaire, right? People, a lot of them are engineers. A lot of them are corporate, employees that transitioned into real estate.

01:51:12:28 – 01:51:21:07
Dallon
And being newer a few years back asking questions, people were more than happy to share their experience.

01:51:21:07 – 01:51:39:27
Rod
Most people most people enjoy sharing. Yeah. Which is why you want to get around people like this, you know, it’s why the warrior group so effective. And, you know, just going to these, these events is so powerful because, you know, people, most people, unless they’re trauma, trauma, damaged, emotionally damaged, want to help other people. That’s just human nature.

01:51:39:27 – 01:51:40:09
Rod
So.

01:51:40:10 – 01:51:48:17
Dallon
Well, we’ve all been there. Yeah. We’ve all been there where we haven’t, where we started from ground zero. So naturally, I think we want to mentor and help other people.

01:51:48:17 – 01:51:53:21
Rod
That’s it. Do you feel like there’s a type of person that that’s better suited for this business?

01:51:53:21 – 01:52:06:08
Dallon
No, not at all. Not at all. I agree. Yeah, I, yeah. And in fact, it’s I think where I really realized that when it comes to sales because like in sales one, a lot.

01:52:06:08 – 01:52:07:09
Rod
Of you done sales.

01:52:07:11 – 01:52:23:28
Dallon
No. Okay. No. Okay, well I do. Well my argument is that we do sales every day. Right? I have to sell myself to my wife that I’m worth keeping around. Right. So, but I think when it comes to sales, there’s a lot of limiting beliefs and stuff around that, and I’ve had to grow and mature with that as well.

01:52:24:01 – 01:52:46:21
Dallon
I have a really good friend of ours. He’s actually our team’s internal sales coach. He views sales as a form of leadership, so he has a really unique philosophy. I like that. And, and so that’s when I first realized that it’s it’s maybe not the type of person you think it might be, because some of the people that I know that have raised the most capital, you would probably consider them introverts.

01:52:46:21 – 01:53:00:10
Rod
Oh, no. Very often they are. Yeah. Okay. Very often they are. I mean, I’ve met I’ve had people sitting on that couch with, you know, 10,000 doors and, and you’re surprised because, you know, they’re not the outgoing type A you expect.

01:53:00:10 – 01:53:02:04
Dallon
It’s not this big social media, right?

01:53:02:06 – 01:53:20:22
Rod
Oh, that, that either. But even that just their, their, their mannerism, their, their, you know, in the raising money for a fund or investor relations piece of the business, what do you feel, what do you find to be the most challenging piece of that?

01:53:20:25 – 01:53:46:19
Dallon
I think meeting people where they’re at in their investment liberate. So it’s I use this metaphor quite often. My wife and I were going on 12 years being married, and I ask her to marry me on the first date. And I think a rookie mistake a lot of people make when they’re in the real estate game is they’ll go to a networking event, find somebody, find out they have money, they get this commission breath and they’re like, hey, I got this incredible deal.

01:53:46:19 – 01:54:03:06
Dallon
Let me tell you all about it. Here’s a numbers, here’s a return. They’re going from that. They’re looking for a one night stand. That’s really what they’re looking for. And raising capital. It’s a relationship game. So I ask my wife to marry me on that first day, we realized that there were some connection. We had some more dates.

01:54:03:06 – 01:54:17:18
Dallon
We started talking. We learned. I learned about her family. She learned about mine. And then eventually we got to that point where we were comfortable taking that next step. I think people try to push and accelerate those relationships quicker than they probably.

01:54:17:18 – 01:54:40:10
Rod
She has really good advice, guys. Really good advice. Focus on building the relationship. And I will tell you something. I’m gonna circle back to something that I said earlier. When you’re dealing with elderly sellers, don’t talk about the deal first. Talk about it. Build a relationship first. Especially, you know, elderly people are more of relationship driven then then, you know, young, young people and they and you bond with them.

01:54:40:10 – 01:54:45:00
Rod
And when you bond with them, you can cut an incredible deal, which is, I’m sure, what you did on that first foreplay 100%.

01:54:45:00 – 01:54:53:04
Dallon
Yeah. And now now we don’t even talk about numbers or the deals till maybe 3 or 4 or fifth call. Yeah, that’s right, the first few. The first few get to know him.

01:54:53:05 – 01:55:09:14
Rod
Yeah. Get to know him. Find out the kids. What are they like? You know, that’s that’s, I mean, that is that’s influence is what that is. And that’s how you influence by by building trust, building relationship. And then, you know, and then you, and I love the leadership angle on the sales. I really like that.

01:55:09:14 – 01:55:19:12
Rod
That’s that’s a great position to have psychologically. When you’re. So let me ask you this. What do you enjoy the most about raising money?

01:55:19:14 – 01:55:41:12
Dallon
My mind was blown when I realized I always thought apartments were owned by, like, one really, really rich person, either from, like, LA or New York City or Saudi Arabia or Dubai. Once I realized it’s everyday people that blew my mind and I wanted, I almost felt like this internal colony or mission to let people know that it’s even an option, right?

01:55:41:14 – 01:56:01:00
Dallon
And so when you’re having that conversation with somebody and they realize that they can use their old IRA or their old 401 K to invest in real estate, they want to get it out of the stock market and something tangible, just being able to educate people and give them another path that they didn’t realize was an option before.

01:56:01:00 – 01:56:15:20
Rod
Yeah, a lot of people don’t know it. That’s surprising how many people don’t know. So talk about a time you got your butt handed to you on a deal. Talk about a war story. You know, people learn. I think people learn more from those than anything else. So talk about a seminar. Doozy.

01:56:15:20 – 01:56:20:10
Dallon
It was a it was a self-storage development. You know, I joked earlier that I. That’s right out of here.

01:56:20:10 – 01:56:24:03
Rod
Lost your hair. That’s right. Okay, so. So what happened?

01:56:24:05 – 01:56:38:00
Dallon
So we when we broke ground or initially kick this off, I believe it was I think it was 2020. And we all know all the year 2020. And shortly after, with it being ground up development, construction costs went through the roof.

01:56:38:01 – 01:56:42:24
Rod
Yeah. I remember seeing these pictures on social media of a pile of wood. This is my retirement.

01:56:42:26 – 01:57:09:23
Dallon
You remember right? Yeah. I was like to a point where we even considered building everything out of cold form steel. No kidding. Because lumber was so high. Right. And so there was that cost went through the roof. So we were over budget. And just due to our inexperience and relying on others, we got ourselves in a pickle where we broke ground and things came to a screeching halt because we didn’t have a fire suppression system.

01:57:09:26 – 01:57:32:18
Dallon
And we thought at that point we were told that things are good. It doesn’t seem like you really need it. And then the city comes in and they’re like, where are your sprinkler plans? And we’re like, what are you talking about? They’re like, you got to stop until we have that. And so we we broke ground. We started, we laid the foundation for the office and started like all the grading and everything.

01:57:32:21 – 01:57:51:25
Dallon
And so that came to a screeching halt. And it took about 6 to 7 months going back and forth. Because any time in development, when you submit a plan, you’re waiting 6 to 8 weeks minimum, right, just for a response. And the response is like, oh, that’s not right. You need this resubmit. We’ll get back to you in another two months.

01:57:51:28 – 01:58:12:13
Dallon
And it got to a point where we’re like, screw this. Like we we fired the architect, brought on a new one, and she really dove into the code in that city. And she was like, okay, if we move some of these buildings, if we we had an apartment over the office, if we take that down and we do this, this and this, we won’t, we won’t need fire suppression.

01:58:12:13 – 01:58:17:17
Dallon
We’re like, are you like, are you sure? Yes, 100% sure. So so what’s.

01:58:17:17 – 01:58:22:18
Rod
The lesson in that? Because I know what it is. I just want to know if you know what it is.

01:58:22:20 – 01:58:24:15
Dallon
To pay money to get the right people on the team.

01:58:24:22 – 01:58:34:27
Rod
And partner with the right people that are ingrained in that capacity. Yeah, the good old boy network, the people that know the people in codes, the people that know what the hell is going to work and what’s not going to work.

01:58:34:27 – 01:58:38:29
Dallon
We went with a budget draftsman. Yeah, because we wanted to save a few bucks.

01:58:38:29 – 01:58:42:22
Rod
You got you got to have some of this connected, spend some. Would you agree with.

01:58:42:23 – 01:58:51:18
Dallon
100%? Yeah. I spent like spend the money on the right person. Yeah. Like that’s that would have saved us time and money. And then there was market conditions that were out of our control.

01:58:51:18 – 01:59:08:02
Rod
Oh sure. Sure. But but you know, when you’re dealing with any municipality, my God, do you want to, you know, like one of my warriors, you know, Eric Upchurch. Eric. Eric went and met with the mayor. Yes. Great guy went and met with the mayor of a of, across from a partner in the town that he bought, an apartment complex.

01:59:08:03 – 01:59:24:04
Rod
Oh, my God, how smart is that? Yeah, you got an issue. You call the frickin mayor? You know, I mean, that’s just an extreme example. But the point is, you know, especially in development, you want to have people that are connected in the city or county, you know, that’s governing. But anyway, that’s a great story. Thank you for sharing.

01:59:24:04 – 01:59:39:05
Dallon
Our contractor, they were known for self-storage development. They’re the ones that kept that deal together like they were. I can’t speak highly enough of them. So that just showed me having the having the right people and and expect it to take longer.

01:59:39:08 – 01:59:41:07
Rod
So you said you like mindset stuff.

01:59:41:11 – 01:59:41:21
Dallon
Oh yeah.

01:59:41:22 – 01:59:54:05
Rod
Talk about that a little bit. So I mean, you know, where does that come from? And, and how does it show up and, and how do you staying you know, involved in it. That’s a lot of questions. But yeah.

01:59:54:07 – 02:00:07:17
Dallon
So I realized how much when when I left the medical field. This was October 2019 six months before Covid outbreak. I left and got my real estate license, jumped into.

02:00:07:18 – 02:00:08:14
Rod
Oh, you got your real estate.

02:00:08:19 – 02:00:31:17
Dallon
At that time to help transition, to help support the family. While I was still carrying on the multifamily stuff. That license lapsed years ago. Right, right. But when I left that W-2 job and I started working for myself, that’s when I got blindsided by how unprepared I was to be my own boss. Because up to that point, even in the in the medical field, I showed up to work.

02:00:31:19 – 02:00:40:29
Dallon
They told me, who are your six patients that you’re looking out for the night? Here’s literally a checklist of everything that they need. Go through it. When you start working for yourself.

02:00:41:02 – 02:00:47:28
Rod
You you’re a damn good, disciplined. Yes. And ideally have a map or a blueprint from somebody that’s done it before. Yes.

02:00:48:04 – 02:01:09:07
Dallon
And, and that’s when I just, I got blindsided by how unsure I was about certain things. And, and just through a lot of meditation books going, getting around other people doing the same stuff, that’s when I developed a deep passion for for personal growth and development. And it’s it’s all up here.

02:01:09:07 – 02:01:15:18
Rod
So what are some of the things you’ve done for your personal growth and development? Any event going to see Tony or anybody like that? What have you done?

02:01:15:18 – 02:01:24:17
Dallon
I haven’t done Tony. For me, it’s been. Yeah. So the book that really helped me in that transition early on was a miracle morning.

02:01:24:18 – 02:01:27:00
Rod
Oh yeah. I’ve had hell on the show twice now. Right.

02:01:27:00 – 02:01:32:13
Dallon
That’s all that that book and I implemented it. And then I realized, and this is for me personally.

02:01:32:14 – 02:01:44:25
Rod
And by the way, my my warriors. Sorry to interrupt. My warriors get that book as a gift. Typically when they sign. It’s a great book. Yeah. And, you know, by the way, if you haven’t read the book, it’s basically how you get up in the morning and start your day off. But but please continue. Sorry, interrupted.

02:01:44:25 – 02:02:06:27
Dallon
That was the first time in my life implementing his book that I was probably that consistent at anything on a daily basis. And that’s that’s when it really clicked for me. And moving forward now it’s it’s that book is great. I still implement it. Not as much as I probably should, but for me, I realized it’s the daily habits.

02:02:06:27 – 02:02:12:27
Dallon
It’s showing up for yourself daily. Telling your side, keeping your own commitments. Yeah. After Battle Mountain, yeah.

02:02:13:03 – 02:02:32:02
Rod
I forgot who called whose quote that is. So is there besides the miracle morning, is there a book that you like to. I mean, because you’ve obviously, you know, certainly when you did your meet up and everything else for sure, you told people to go watch Rich dad or read Rich dad, but are there any other books that you’ve gifted more than another?

02:02:32:04 – 02:02:45:23
Dallon
Not more than the other. Okay. Okay. I think maybe this comes from my, me having a lack of empathy. I know that about me because I’ve taken some personality tests, but I love the book Extreme Ownership by Jocko Goggins.

02:02:45:23 – 02:02:46:12
Rod
Is that Goggins?

02:02:46:17 – 02:02:47:03
Dallon
Jocko.

02:02:47:03 – 02:02:48:26
Rod
Jocko? Jocko.

02:02:48:29 – 02:02:58:08
Dallon
Because that’s just like we we’ve all got shit going on. We’ve all got stuff that we gotta go through. Sometimes it goes well, sometimes it doesn’t like, take ownership for what you’re going to do.

02:02:58:15 – 02:03:05:24
Rod
The good and the bad, the good in this doing it all, you know, when you own it all, it’s it’s refreshing and it actually minimizes your stress.

02:03:05:24 – 02:03:06:15
Dallon
Yeah.

02:03:06:18 – 02:03:27:24
Rod
Yeah. No. Yeah. He’s he’s he’s he’s awesome. Back to that. Either that first fourplex or that first syndication you did. Whichever one gave you the most fear. How’d you get past that fear on that first deal? And which one gave you the most fear was the big one, or was it the, was it, was it raising money for a larger deal, or was it that fourplex?

02:03:27:26 – 02:03:35:12
Dallon
You know, I’d say was the the first fourplex because I had never done real estate, but it was I didn’t I wasn’t experiencing fear.

02:03:35:12 – 02:03:36:21
Rod
You didn’t have a lot of fear. All right.

02:03:36:24 – 02:03:42:29
Dallon
So I would say a level of ignorance, rod. Okay, okay. If I knew what I know now. Okay. There might have been a little bit more fear.

02:03:43:01 – 02:03:49:00
Rod
Fair enough, fair enough. Have you encountered fear in any stage of this, of this, of this real estate?

02:03:49:02 – 02:03:51:27
Dallon
100%. Whenever a deal’s not going as planned.

02:03:52:00 – 02:03:53:23
Rod
And how do you get through it?

02:03:53:25 – 02:04:15:14
Dallon
You own it. That back to that development, we had unfortunately had to do a couple capital calls. You did and and nobody wants to do that. And, fortunately it was a smaller group as that was a joint venture. It wasn’t a syndication. And, so partners that we had good relationships with. Alrighty. And we just, we laid it all out.

02:04:15:14 – 02:04:33:21
Dallon
We said, hey, this is where it’s at. This what happens, what we could have done differently. This is what we’re doing moving forward. So any time I have to deliver bad news, I’d say that’s where I get the most fearful. But that doesn’t mean not to deliver it right. Deliver it and then provide a solution. And most people are pretty understanding.

02:04:33:22 – 02:04:38:02
Dallon
Most people understand like, hey, we got it. Shit happens. What are we going to do to change it?

02:04:38:02 – 02:04:55:25
Rod
Move. If you were if you were careful in your selection initially. And that’s why initial selection with partners, is very, very important. And by the way, guys, I’ve got a book about this. The questions you should ask before you get in a partnership. Because a partnerships like a marriage, you know, easy to get into, hard to get out of.

02:04:55:27 – 02:05:22:07
Rod
And, so you want to ask the hard questions upfront. But the other thing is, whenever there are issues, you need to overcommunicate, and, yeah, we’re really just overcommunicate. So, you’ve got this, automated CRM called Capitalist Pro with with two L’s in there, capital Y est Procom. And it’s your CRM for real estate investors to raise more capital.

02:05:22:07 – 02:05:41:26
Rod
So guys, you can check that out. You also got your podcast coming out here, the Capital Flow Podcast. You can start your meet up if you’re in Phoenix or is it Scottsdale as well. They’re both kind of connected. Yeah, yeah. If you’re in that area, keep an eye out for that. How, do you have like a LinkedIn or a social presence anywhere that people connect?

02:05:41:27 – 02:05:47:18
Dallon
Yep. I’m on LinkedIn. Probably not as much as I should be. Okay. Honestly, the website that you directed them to. Okay. Probably the best.

02:05:47:18 – 02:05:48:25
Rod
Capitalist procom.

02:05:48:25 – 02:05:57:12
Dallon
We’re going to start putting more content out on LinkedIn. Good. Just helping people understand the importance of a CRM and being organized and having us. That’s it.

02:05:57:18 – 02:06:07:05
Rod
That’s it. You’ve got to be organized, guys. Any business is nothing but people and systems that pieces the systems. Well, I really appreciate you coming on, brothers. Great to see you. It was.

02:06:07:05 – 02:06:07:19
Dallon
A pleasure.

02:06:07:19 – 02:06:11:10
Rod
And, you absolutely had a tremendous value. So thank you.

02:06:11:16 – 02:06:12:05
Dallon
Thanks for having.

02:06:12:05 – 02:06:13:12
Rod
Me. Yeah. Thank you for listening.