00;00;09;21 - 00;00;31;18

Unknown

Welcome to the Profit First for Real Estate Investing podcast. Every week we bring you top investors and experts sharing how they create clarity, cash flow and consistent profit. This episode is brought to you by simple CFO. Profit first. Profit always. Lets go. We have a special guest today, Zak Richards, where we really dive into a couple of things because he's a private lender.

00;00;31;18 - 00;00;46;22

Unknown

So if you're wondering about the private lending world, how do you find a private lender? How do you know if someone's a good one to work with? How does this apply to profit first? And if you have money on the sidelines, how do you work with a private lender if you don't have money? How do you get the money in place in order to be a private lender in the future?

00;00;46;22 - 00;01;07;07

Unknown

So you also talked about his first deal, and his first deal went really well. And he talks about what he put in place before he ever did his first deal in the private lending space. He also talks about some of the things as an entrepreneur, really understanding the behaviors and habits and what will help you become successful, especially sticking it out in the hard times.

00;01;07;07 - 00;01;25;09

Unknown

And then he also talked about putting first things first. So a lot of what we talk about in Profit first, and really how he shaped his life around his business and his business around his life, and really those work in harmony together. So I want you to glean a lot of the wisdom from Zach and be able to apply it to your business and to your life.

00;01;25;10 - 00;01;43;03

Unknown

Thank you so much for listening and I hope you enjoy the episode. Welcome back to the Profit First Right podcast. I have a special guest today, Zach Richards, which I have met him over the years at several masterminds I've been a part of. Zach, thanks for being on the show today. Thanks for having me. I really appreciate it.

00;01;43;04 - 00;02;09;14

Unknown

Yeah, and if you don't know, Zach's in the private lending space, which is a space that usually a lot of people want to either get into or they want to utilize heavily in the real estate space, especially. So I'm just going to dive right in here because I want to get into the crux of this thing. So you made when you were filling out a form, you said you made your first private loan out of your own 100,000 in savings before the Ray capital guys and your company even existed.

00;02;09;14 - 00;02;28;15

Unknown

So walk me through that first deal. How did you underwrite it with no track record? What would you do differently now to, like, talk about that first deal? But then if there would be any different glasses you would put on for that one? Sure. So I'll try to tell the story as briefly as I can. So I got into interested in private lending back in 2020.

00;02;28;16 - 00;02;46;26

Unknown

I was working at a software company at the time, and I was working from home and I was bored. I always wanted to invest in real estate, but the idea of managing tenants and all that just didn't sound very appealing to me, because at the time we lived in a duplex, rented out the upstairs and had a nightmare tenant in there that I ended up needing to evict.

00;02;46;26 - 00;03;10;05

Unknown

So doing that over and over again, while somebody with somebody literally living right above us just really kind of soured me on that whole thing. So I got interested in private lending. Like I said, back in 2020, thought you needed a ton of money to do it. And then I, long story short, found out that somebody flipped a house near where I lived at the time and only borrowed 100,000 from somebody to do it.

00;03;10;05 - 00;03;37;15

Unknown

And I said, okay, I was saving up to buy another property. And that's, you know, within the range of what I have saved. So let me see if this actually is a thing that I can do. So I spent probably 3 or 4 months just diving into all the information I could find about it. I read books, I talked to attorneys, I went to local meetups and then anded up doing my first deal in July of 2020, and it went well.

00;03;37;15 - 00;03;58;08

Unknown

It was with somebody who had done dozens of flips, all in my local market, which was in New Hampshire, and he and I did the deal. It went well. And then that one paid back in about six months. And then I did a couple more, and then from there friends and family said, hey, I've got some money sitting on the sidelines in a CD or retirement account, whatever.

00;03;58;09 - 00;04;17;08

Unknown

Doing nothing. Is there a way you can lend it out for me? And I said, I think so. Let me just talk to an attorney and figure out how to do all this the right way and above board, and then started from there with friends and family. And then a couple of years ago we started Ray Capital guys and, and started our fund and raised a lot more capital that way.

00;04;17;08 - 00;04;44;12

Unknown

So I wish I could say I had all these like lessons that I learned from the first deal. I mean, the first deal I did went really well. I definitely learned things from subsequent deals, most of it. Thankfully, I haven't made any mistakes that have lost any of my investors or anybody, any money, but just things of like making sure you have a good attorney that does your documents, you don't want, you know, the personal injury attorney that you see the billboard on the side of the highway doing your loan documents.

00;04;44;12 - 00;05;12;06

Unknown

And so it's really just about managing all the downside risks. Yeah, that makes sense. Sounds like you did a lot of prep work. So that first one would go as well as humanly possible. And since you had a good borrower, it seems like it was the perfect storm for that first one. So probably not anything that you would do different on that one then it sounds now, I was very fortunate that the first deal I did went well, because I've heard lots of stories from a lot of people that they've given somebody 100% financing.

00;05;12;06 - 00;05;29;28

Unknown

They gave them all the repair money up front, and then the person disappeared. And so, yeah, I've heard it all. Yeah. So that I okay, that did raise a question there. So you used the money from your savings. Was that the only savings you had? And like, did you go big on this one or like did you have other things you were doing?

00;05;29;28 - 00;05;49;09

Unknown

I just want I was just want to make sure I got the picture. So it was it was the bulk of what I had saved. Yeah. I didn't have a ton of other stuff going on at the time, and I was pretty comfortable. I mean, at first I thought I was crazy for doing this, and then I really thought about it over the weekend and I said, okay, it's a $100,000 loan.

00;05;49;09 - 00;06;08;18

Unknown

He's buying the property for 170. I think he's funding the repairs himself. I'm like, I'm going to be fine here. Yeah. So it was a lot of bad upfront and took some convincing. Yeah, yeah, it makes sense. And no, I, I like that it's sounds like you had a lot of, like we said, a lot of the right things going there.

00;06;08;18 - 00;06;31;08

Unknown

So when you are structuring. Yeah, yeah. When you're structuring these private money loans and when someone comes to you a fix and flip investor instead of, and they're coming to you instead of a traditional bank, what changes in the deal structure, you know, like what are the real terms are the things that might be different than a traditional bank that you can make happen as a private lender?

00;06;31;11 - 00;06;52;17

Unknown

Sure. So where we really excel is speed. Anybody who's gotten a loan from a bank knows it's going to take at least 30 days. They're going to want to see tax returns, bank statements, all your W-2 pay stubs, all this kind of stuff. And because we're lending primarily on the asset, we don't need to get bogged down in all of that paperwork.

00;06;52;17 - 00;07;18;21

Unknown

So we we do focus who we lend to as well. But really what it comes down to is we focus on the value of the property. We typically lend 80% of the purchase of the property, 100% of the repairs up to about 65% or 70% of the after repair value. So we've got that equity cushion there. And because banks are selling their loans on the open market, they get appraisals and do all that, which adds more time and complexity.

00;07;18;21 - 00;07;43;20

Unknown

And so that's another thing that we don't have to do. So it's really speed. And he's working with us over a traditional bank. Awesome. So I love that. And that's what a lot of people want. And with you and your business partner I could really see that. It seems like you take the time and that you care and you dive into it with these people, and it's more about that relationship, which is also something people usually want from the private lender, like from the people they want to work with.

00;07;43;20 - 00;08;04;08

Unknown

So the relationships huge, because the first time we do a deal with somebody, it's always there's some underwriting there and just getting a feel for each other's experience and how everyone operates. But we have people that we've done dozens of loans with and people just text us and say they have another property, and we're already 90% sure that it's something that's going to go forward.

00;08;04;08 - 00;08;25;28

Unknown

So it just gets so much easier on both ends when you have a good relationship. Awesome, I love that. So I want to go a little bit into your personal story. Maybe the personal mindset that you have, like going from software engineer to now you're working with other people's capital and you're working with your own capital, and now you're more like that business owner mindset.

00;08;25;29 - 00;08;46;02

Unknown

And especially since this is the Profit First RTI podcast, I wanted to ask, did anything shift for you when you had to think about paying yourself versus reinvesting like everything back to the business? Like now you're a business owner, you've got to make sure you're taking care of if there's taxes, all that stuff. So it was there a mental shift for you?

00;08;46;03 - 00;09;07;08

Unknown

Did something have to change? Like how did habits form? I don't know, just some of the things that I always wonder when I got people here and captivated on the podcast. Absolutely. I mean, I started off right with a W-2 job that was very stable, and I did well. And, you know, I had a paycheck come in every two weeks for ten years without a single hiccup.

00;09;07;08 - 00;09;25;08

Unknown

And then, you know, going on my own as a business owner, I definitely had to learn the whole, like, you know, managing cash flow. And you have some awesome months where you close a bunch of loans and do really well, and then there's a lull and then loans take a little while to pay back before you can recycle the capital.

00;09;25;08 - 00;09;59;04

Unknown

And so just managing that really on my own side, like I guess how to describe it as like being okay with that amount of stress, which is easier said than done, right? Like, oh, I had an awesome month. Yeah. But every month not going to be that way. So just yeah, keeping track of. All right. How much capital do I have saved in the bank that I know need to cover my own life for the next however many months until, you know, more capital is coming in and going going to go back out and just really dealing with that mindset was took, took a lot.

00;09;59;09 - 00;10;38;01

Unknown

Yeah. Okay. So now I want to ask, since you were a software engineer, do you lean more towards the relationship with people or the number side of the business? Just that's just a personal, curious question I have because of the background. So my instinct at first was definitely towards the numbers. Okay, because that's easy to do. But another shift that I've had to make on my own personally, is being able to be a lot more about going than I, you know, otherwise would, and building relationships with people because with business, that's all you have is relationships.

00;10;38;01 - 00;10;54;29

Unknown

And so, yeah, when I first started this, I never would have imagined that I would someday, you know, be on people's podcasts or have my own podcast or anything like that. So that that shift definitely had to happen. And it was hard. But at the same time, I knew that I had I didn't have a choice. Yeah, yeah.

00;10;54;29 - 00;11;19;02

Unknown

So you really what I'm capturing there, you as a business owner need to know your stress tolerance level and if it needs to grow, because if you go from W-2 to business owner, there's just a different way of thinking about things. And you're going to have great months, not great months. So that's one big thing. And then the other thing is, if you have a penchant for the numbers, we have to work on the relationship side because no matter what business you're in, its relationships.

00;11;19;02 - 00;11;37;21

Unknown

But then it sounds like vise versa. If you're on the relationship side and you love people, you got to know your numbers as well too, which seems like you have that part nailed down and then you've been growing. That does lead me to then you did that first deal, it sounds like with your money and whatnot, but then Aria Capital guys came later.

00;11;37;21 - 00;12;02;24

Unknown

And is that did you start that company with your business partner and what made you think you needed a business partner at that point? Or like, why not just do it yourself? So question out there. Yeah. So we we both again to try to tell a long story short as I can, we both had our own separate lending companies for several years and we operated them the same, pretty much the same exact way.

00;12;02;24 - 00;12;22;17

Unknown

And we gotten to know each other through various lending events and masterminds. And so we shared a lot of information about how we run our businesses. So over time, we we both kind of ended up running them the same way and not really on purpose. And then, okay, we wanted to really raise a lot more capital because we had been doing just one off deals with people.

00;12;22;17 - 00;12;51;09

Unknown

And as you can imagine, as you scale, trying to play Tetris with everybody's money gets pretty complicated of keeping track of how many, how much each investor has sitting on the sidelines and all that. So we wanted to start a fund, but we always thought they were really complicated and how they were set up and managed. And then we talked to these lenders that we know that have a much simpler setup that we said, oh, if if they set up their fund that way and it's working for them, we can do it the same way.

00;12;51;09 - 00;13;17;04

Unknown

And it's a lot easier to manage, and it just makes it also easier for our investors. And so then we started that. So that's really what prompted us to combine our companies and start our capital guys was really scaling up our capital raise by by doing it with a fund. How have you stayed partners this long? You know, like is there any secret sauce or anything that's helped you in that partnership during this time together?

00;13;17;07 - 00;13;38;12

Unknown

I mean, really a partnership is is like a marriage. It's very similar. And it's it's really about making sure, you know, you you have to know at the end of the day, with any partner you have in anything, that you both have the same goal. So if you know, if somebody disagrees with you, it's not because they want something different.

00;13;38;12 - 00;14;01;22

Unknown

It's usually just a different way of trying to get the same outcome. So keeping that in mind. And then really I think another key is knowing what battles you want to pick. Like if something is not really important to me and it's really important to my business partner, my wife or anything, it's really all the same is, yeah, just let it go.

00;14;01;23 - 00;14;21;01

Unknown

Like if you, you know what, you can let go and not not harp on then then do it. And so I think it's, it's communication. It's knowing you all. You're all, you know, headed in the same direction and just knowing what, what's really important to to disagree on and argue about. Awesome. All right. I have to pause the episode real quick.

00;14;21;02 - 00;14;40;28

Unknown

If you're a real estate investor who's tired of wondering where your money is going or why you're closing deals, but still feeling broke, you need to talk to simple CFO. Simple CFO is profit first certified and fully endorsed by Mike McCall, which the creator of Profit First himself. Our team specializes in helping real estate investors finally get control of their cash flow.

00;14;40;28 - 00;15;01;23

Unknown

So you keep more money, you pay yourself consistently and build a business that doesn't run on chaos. We'll help you implement the profit first system the right way, so that the financial processes you've been missing, and give you a dedicated fractional CFO who actually understands investing in keeping track of your numbers on flips, wholesales, rentals, private lending, all of it.

00;15;01;23 - 00;15;29;00

Unknown

So if you want predictable profit instead of living, deal to deal, head over to simple CFO. Com and book your financial clarity call today. That's simple CFO stop living in confusion and start keeping the money you work so hard to earn. Now back to the episode that leads me to then. You like to make sure that people are investing in saving for themselves and for their business, and make sure they have a good business.

00;15;29;00 - 00;15;52;22

Unknown

Because I'm sure when you lend to people, you want to make sure that they're not upside down. And and so when someone is making money in their real estate business, but not consistently investing in themselves, I don't mean just reinvesting into projects, but it could be into making sure they're financially stable or they have reserves or whatnot. Do you see a behavioral gap?

00;15;52;28 - 00;16;15;11

Unknown

And if you do, how do people push past that? Or how have you pushed past that, like of making sure you have a fine, financially solid business? Yeah, I think I'm trying to see if there's like an answer to that or an easy answer. I answer, yeah, yeah. I don't know if there is like, right. It's something you just got to understand that.

00;16;15;12 - 00;16;34;21

Unknown

Like, I don't know, I feel like some people like the stress in a weird sense. Like they're like they're like, that's all they know, right? And then once you like, kind of crawl out of that a little bit and realize that you don't have to be be worried about your business and stuff all the time. It does make things a lot easier.

00;16;34;21 - 00;16;51;04

Unknown

And then it's it's finding that balance to of like, how do you not not be so stressed, but then don't take it too much on the other side where you just coast because you think, oh, I've got six months of Bill sitting in the bank, I'm just going to take the next six months off, right? That's not going to work either.

00;16;51;04 - 00;17;07;07

Unknown

You can't take your foot off the gas pedal. Yeah. I don't I don't really know if I answered your question, but. Well, it sounds like one word to sum it up would be balance. Like you have to be balanced where it's like, okay, I'm not just putting pushing pedal to the metal all the time because we've seen that where it's like burnout.

00;17;07;07 - 00;17;22;28

Unknown

You can't. Yeah, addicted to the deals. And I just got to get the next deal. But then at the same time they're burning everything with them. Sells out the business, their cash reserves, everything. Their family, all of the family, all of it. Yeah. So okay. So I like that. So it's more of the can we really be balanced here.

00;17;22;28 - 00;17;40;18

Unknown

And I like this kind of ties into what your answer was before is your stress tolerance level. And like where are you in the stage of life. Like you cannot build this huge monstrosity if it also blows up everything else in your life as well too. So and I think with balances, it's not like it's balance every single day.

00;17;40;20 - 00;18;01;00

Unknown

Either. Right. Like some days, some week, some months. You're definitely working more or someone you know, you're working a little bit less for whatever reason. But I think it's find the balance over the long run. Yeah. And I like how Jim QuickBooks puts it in his books. It's more harmony than balance. Like things you have to harmonize to better to make sure that everything is in sync.

00;18;01;01 - 00;18;17;16

Unknown

At least if they're not, they're not always taking the lead role. It's like, okay, is it at least in harmony now? And like, we're not totally out of tune with everything. So yeah, because balance sort of implies like they're equal and that's not necessarily the case. Yeah. That's very true. So yeah I like that a lot, a lot better than using that word.

00;18;17;17 - 00;18;54;00

Unknown

Okay. Cool. So then let's get into like I said it says it's the profit first right. Podcast. Even if you're not running profit first totally on your own, you are built around a very similar idea. When we were talking before, had you fill some things out. You know, you want people to pay themselves, especially via passive income. So if someone's using profit first but they have like a reserve or a tax account where a lot of it just sits in a low bank account, what case would you make for someone moving that out of those accounts and into like a structured lending position instead of leaving it parked?

00;18;54;02 - 00;19;12;29

Unknown

Yeah, I think you definitely can lend a lot of that money because that tax money, right. It's earmarked to eventually go to the government. You just waiting for as late as possible till you have to send it in. Right. And so yeah, I think people definitely can put it into, into lending or, or some other investment like that.

00;19;13;02 - 00;19;40;10

Unknown

I think the one thing to keep in mind though, is liquidity, because if you don't, you don't don't buy property with your tax money. I would say, because if you need to make that payment in a six months or nine months or something and need to get the capital back, that might be a little bit more difficult. But something like private lending, where if you're doing shorter term loans or you're placing it into a a fund, for example, like ours, like we don't we don't have a lockup period in ours.

00;19;40;10 - 00;19;58;03

Unknown

We just ask for a 90 days notice if people need to get their capital back. So something like that might work just depending on what your cash flow schedule is going to look like. Oh, awesome. So I like that for your specific fun. It's a 90 day, so you would just need to say, I can't have an emergency where I would need all my money within 90 days.

00;19;58;03 - 00;20;27;17

Unknown

It's like knowing before you go into something because like you said, if you buy a property, things come up. You think it might be three months, but it's like 12 months later and it's still sitting there because the city doing them right. Like, what are we doing here? So there's only tax money tied up there. But knowing what you're getting into before you get into it and where to put that money that gives you the best return, and not just sitting around and, you know, getting, what, a point 1% or in some bank accounts there 1 to 4% right now.

00;20;27;17 - 00;20;45;02

Unknown

But you can do a lot better if you're in the real estate space and have access to people like Zach and his company, Ray capital, guys, then this is some of the things that you can put that money, especially if you're running profit first and you have access capital that is sitting around. So I didn't want to ask that.

00;20;45;02 - 00;21;04;27

Unknown

Then I this is just a personal question on the business side. I wonder, do you I don't know, have you worked with people that have used profit first or as borrowers or. I guess I would also ask if you haven't, if someone has a system for their money, does that factor into if you lend to them or not?

00;21;04;27 - 00;21;27;23

Unknown

Not if they have it set up. But like, does that make them a more secure borrower? If you were to see a system like profit first set up in their business, I think it definitely would. And we do we do go a little bit into people's financials. We ask for personal financial statements and things like that. So we can kind of tell if somebody seems pretty organized and if somebody has, oh, this is what I expect to own taxes.

00;21;27;23 - 00;21;52;05

Unknown

This is the money that I have in this bank account and this bank account. That definitely would make us feel a lot more confident in, in somebodies just ability to execute a project. And they have them themselves squared away, their life squared away. And so I definitely agree with that. Okay. So you say it's definitely a bonus. It's not like obviously the the tool where you're like oh yeah this is a hard yes or hard no.

00;21;52;05 - 00;22;17;04

Unknown

But it's like this is where okay, I can see organization here. They're probably going to be running their, you know, their properties and the projects like this as well too. Cool. I like asking yeah that's what I'd say. Yeah. Okay. Then in the lending space. What do you do. You see some of the most common pitfalls that people are running into today that you're wending on, or is it like there are properties sitting longer?

00;22;17;04 - 00;22;36;23

Unknown

Are they. You know, I don't know. Capital is being tied up more at just with the market. I like to get a pulse on the market for the people that come in. And I don't know, are you seeing of any problems, multiple problems, one big one, anything that you could share with our audience. So we're definitely seeing properties sitting longer on the market like used to be.

00;22;36;24 - 00;22;55;20

Unknown

I mean, we do a lot of loans all over the country, but where I'm personally in New England a lot, and you used to be like last summer that you put a property on the market on a Friday, and then by that night or the next morning, you'd have half a dozen offers in a contract. And that's not really happening so much anymore.

00;22;55;21 - 00;23;16;25

Unknown

Stuff is still is still selling. The prices haven't really come down. It's just things have been sitting on the market a little bit longer. So, you know, some properties have sat for 30 days or 45 days and then they end up going under contract. So as the lender, we're still in a great position because we're we're collateralized at that point by a property that's finished and on the market.

00;23;16;25 - 00;23;42;23

Unknown

So if it takes a little longer to sell, I don't particularly care. You know, we're still getting paid every month. And unfortunately the the flippers making less money, which does definitely sucks. But as a lender we've got to primarily be concerned about our side of things. And so yeah, the market has slowed a little bit. But we on the debt side are still in a great position even though that that's happened.

00;23;42;26 - 00;24;08;20

Unknown

Well, that makes sense. And I like that from that perspective because it seems like all real estate investors eventually want to become the lender. You don't want to sit in my way. Yeah, it seems that way. And okay, so I would ask you, when, in your opinion, is a good time for someone to either look into becoming a private lender and where would they even start to learn something like that?

00;24;08;23 - 00;24;31;01

Unknown

So the time to look into it. I would say once you have some capital that you would, could, could lend. And by that I don't mean you need to have $1 million sitting in cash in the bank. A lot of people have a 401 K or an IRA, A41K for an old job or an IRA sitting around. You can lend right out of there.

00;24;31;01 - 00;24;47;05

Unknown

You can roll that into what's called a self-directed IRA, where it's still treated as a retirement account. But instead of investing it in the stock market or bonds or whatever that you can do through Fidelity or Schwab, you can lend it. So you can do that. You can do a HELOC. I mean, there's a number of different things.

00;24;47;05 - 00;25;07;11

Unknown

So I think the time to look into it would be once you've got some capital that you can tap into and then how to go about it, it's really depends how you want to do it. If you want to do it on your own, you need to get all of those those systems and things in place, like having an attorney that you can work with, a title company that you can work with.

00;25;07;11 - 00;25;30;25

Unknown

If you're not an expert in real estate, you need to have maybe some realtors in your local market that can help comp properties for you. So you can you can guess what they're worth and all that stuff to to track your loans and everything. So that's gonna do it on your own. If you want to partner with somebody that can place your money for you, I think it's a matter of having a conversation with them and seeing how they do things, how they protect your capital.

00;25;30;26 - 00;25;50;11

Unknown

What's the process to get your money back out? And so really depends on what you want to do. But I think that this is definitely something that people should consider when they have some capital that they could lend out. Awesome. Sounds like they don't have to go out and start their own company. They can partner up with people like you or others, you know, like to go out there and put some of that to work.

00;25;50;11 - 00;26;07;25

Unknown

But like you said, it's really now you're doing due diligence on that part of, you know, that business and what they're doing and what their terms are and all that. So no, I like that. Exactly. Because then you don't necessarily have to jump in and create a whole new business with all new processes, systems and people and everything.

00;26;07;25 - 00;26;21;28

Unknown

And there's different ways a lot of work. You definitely can do it. It's possible. That's what we did. I did it, but it's a lot of work. Yeah, yeah. And if you're already running and gone in the real estate world, that's a decision you have to make. It's like, okay, how is this going to make us more money?

00;26;21;28 - 00;26;44;13

Unknown

And do I want to invest more time and energy and effort upfront, or do I want to partner with someone that I trust? I know I like and I like the returns and you know, your money can still be working for you. So especially if you have something like profit first in place and you have liquid cash, you know, like to be able to lend, it's worth at least having conversations with people like Zach to be like, okay, what could I put in here?

00;26;44;13 - 00;27;06;01

Unknown

And how long is that? And like, okay, well, if I do needed a tax, I'm okay. Sounds like the 90 days. And then I just got to give you that days. You know what all those conversations. And we'll make sure we give you a link here at the end. But I did have one more question, Zach. I thought it was really cool when you put on your form that you live pretty Raleigh and you keep bees and you're a volunteer mountain search and rescue person as well too.

00;27;06;02 - 00;27;30;18

Unknown

So it sounds like you're doing some pretty cool stuff. I would say you could probably build a bigger fund and whatnot, but you're being pretty intentional with your life. Going back to what we were saying about harmony, like, have you cultivated that? So that way these are the things you've wanted out of and you're starting to be like, okay, this is awesome because I've got the passive income, the lending, and now, you know, like you're you're able to do the things that you love to do as well.

00;27;30;20 - 00;27;49;05

Unknown

Yeah. And that was one of the things, like my wife and I, we've always wanted to live kind of out in the middle of nowhere, which is we live now. And so it's been great with this business that it is passive and is also a business that I do from home. And I, you know, if I have like when we travel somewhere, it's, it's a business in a backpack.

00;27;49;07 - 00;28;08;25

Unknown

Right. You've got if I have my laptop and I have internet I can work from anywhere. So yes, that is absolutely a big reason why I wanted to do it and lets me do these types of things that I enjoy doing. Yeah. Which to me is like, that's a profit first mindset. You put first things first and Zach's a good embodiment of that.

00;28;08;25 - 00;28;27;12

Unknown

And like making sure that things that matter are there and, and building the business around those things. It sounds like that because this in a backpack and being able to to supply what the business can really do for you. So awesome, I love this. Now, you talked a little bit about people have for one case on the sidelines and whatnot.

00;28;27;12 - 00;28;59;03

Unknown

I know you've got a link here at the end where people can get a free download. So I want you to talk about that. Like if people do have some money sitting somewhere and like so that way they know what they're getting into. Yeah. So really quick fidelity in Schwab. Like if you have an IRA or a 401 K through them, they'll let you buy stocks and bonds, but they won't let you buy or invest in other things that that you're allowed to invest in IRA and like real estate, private lending, certain other things because they don't make any money off of that.

00;28;59;03 - 00;29;21;27

Unknown

And that's really the reason. And so I did it for myself. I've done it for my mom, family members and a number of people that have joined our investor community of showing them how to take an old four one or an IRA, roll it into a self-directed account, and then be able to invest in all these other things like private lending, real estate, whatever.

00;29;21;27 - 00;29;43;19

Unknown

And so we've had enough people ask us how to do it that we put together a guide. It's really short. It's just a few pages long that explains how to do it and what kind of considerations you need to think about. And I think if you have a retirement account like that and you're not really happy with what it's doing in the stock market, that this is something that's definitely worth considering.

00;29;43;23 - 00;30;09;29

Unknown

Awesome. So I'm going to put that link up there. It's Ray Capital Guys community forward slash rollover dash guide. So Ray Capital guys community rollover dash guide. If you're listening if you are on YouTube obviously you can see it right there in front of you. So you can go right there to that website. But this is where this is someone that I trust, someone that has been a part of these masterminds and communities for a long time.

00;30;09;29 - 00;30;25;14

Unknown

And if you're just looking to get started, whether you're a real estate investor who wants to potentially invest in their fund, or if you're just thinking about getting into real estate and you have money on the sidelines, it'd be good to have a conversation. So if they get that guide, is there also a way to connect with you as well?

00;30;25;14 - 00;30;52;22

Unknown

I just want to throw that out there. Yes. So we do have there's our links in the guide, but you can also email me at Zach Zach at Capital Im also on Facebook and Instagram. Just search for me and you'll find me and you can send me a message that way. And yeah, however anybody wants to reach out, even if they just have some some questions and want to chat about this whole thing, more than happy to answer questions for anybody.

00;30;52;23 - 00;31;13;02

Unknown

Yeah, I will say it seems like you and your business partner are very much more relationship driven than any private lender that I've seen. So, you know, the fact that he even get you gave out your email address. Like you can email Zach and Zach Z.H. So make sure you type that in. And that's where if you reach out to him, he's going to respond to you.

00;31;13;03 - 00;31;30;19

Unknown

He's going to can get on the phone call with him, you can get on him or whatnot. And these are people that really care about the real estate community, want to work with good people and want to help you get to where you want to be. So this has been awesome. Zach, I really appreciate this. Where from? We talked about a lot of things.

00;31;30;19 - 00;31;51;02

Unknown

I really liked how you talked about, obviously the harmony and making sure that things are in balance throughout your life and that you're even living out a lot of that now. I did like on your first deal how you said, you know, all that prep that you did and then you worked with the right person. So it was like the perfect storm for that first deal, which it comes down to the preparation that you did.

00;31;51;03 - 00;32;22;06

Unknown

You know, to really get into this business and really understanding this person and their deal and the structure and everything going into that first one. And then what your business provides really is that speed, that relationship factor, all of that. And then also you gave the tips on knowing your stress tolerance, building the relationships you have in this business, getting around people like Zach and the other people that like the communities that were a part of where if you need that support and that community that can help, you know, like, here's what we've gone through.

00;32;22;08 - 00;32;44;08

Unknown

If what can help you, then you obviously ended right there with how to reach out to you, which I will put that up one more time. This Ray capital guys community com rollover guide. So if you want to go get that you can grab that there. Especially you have money sitting in A41K. That's not doing much of anything and is probably lining someone else's pockets right now.

00;32;44;09 - 00;33;02;07

Unknown

That's it's it's time to take back control of your money. So Zach, thank you so much for being a guest on here and providing a ton of value today. And then I wanted to also say, if you are out there struggling and you're like, dang, I wish I had money to invest or I wish I could reach out to Zach at this point.

00;33;02;07 - 00;33;21;26

Unknown

But you don't have good systems to control the cash that's curling coming into your business. You can reach out to us at CFO and we can at least have a conversation. How to implement profit first, how to make sure to get your money back on track, how to keep this money so you're not like, okay, when do I get into private lending if I don't have any money in my bank accounts right now?

00;33;21;26 - 00;33;37;15

Unknown

Well, you've got to get some good habits with your money first, and that's what we can help you do. So would love to help you there at simple CFO. Com thank you for listening. And again Zach, thanks for being on today. Thanks so much for having me. That's it for today's show. Be sure to subscribe, review and share this episode.

00;33;37;15 - 00;33;45;28

Unknown

If you're serious about financial systems and keeping more of your profit, visit simple CFO to take your free discovery call today.