Episode 128: From Wall-Street to Main-Street after reading Rich Dad Poor Dad second time years later
In today’s show, Pancham interviews Bryan Flaherty – co-founder and managing partner of CF Capital, selected as one of the “20 People to Know in Real Estate”, member of the Kentucky CCIM Chapter, an honored Certified Commercial Investment Member designee.
Bryan has always felt like a hamster on a wheel – always working on his W2 job but still feeling stuck. So he changed his career twice before finally starting out his real estate journey and found his niche in multifamily investing!
Discovering his path to real estate investing came from reading the well-known book “Rich Dad Poor Dad” twice! Usually, reading it once would realize one’s direction in life but it took him to read the book for the second time to find his ultimate goal – creating his firm.
In this episode, he’ll share the steps he took in order to start his path to real estate investing – getting involved in deals, learning from working in a team, and having a total mindset shift. He’ll also share why you should always stay committed and focused in order to succeed!
Listen and enjoy the show!
Tune in to this show and enjoy!
- 1:48 – Pancham introduces Bryan to the show
- 3:29 – Switching his career twice (and reading Rich Dad Poor Dad twice!) before pursuing real estate
- 8:59 – Shifting his mindset, defining his end goal, and making them happen
- 17:32 – How he deals with self-doubt when it’s kicking in
- 19:12 – On not changing his past and moving forward with uncomfortable goals
- 22:44 – His failures that set him up for bigger success
- 25:35 – How his productive morning routine helped him in his achievements
- 28:53 – Taking the Leap Round
- 28:53 – Syndication as his first investment outside of Wall Street
- 29:42 – Learning on letting go of control and trusting your partners
- 31:21 – Why day trading didn’t worked out for him
- 32:51 – Why investors should always get educated and take action
- 34:22 – Where you can get a free copy of his eBook
3 Key Points:
- Create a roadmap in your mind wherein you’ll identify on how to get from where you are now to your ultimate goal.
- Real estate is considered as a team game wherein you’ll need to work with others in order to succeed in the long run. So the best way to learn investing is through learning alongside others.
- Rather than buying deals as an objective, consider providing attractive opportunities to others that don’t have it as a goal instead.
Get in Touch:
- Get your FREE Copy of the eBook “The Bottom Line – 10 Ways to Increase Cash Flow in an Apartment Complex” at email@example.com
- CF Capital Website – https://www.cfcapllc.com/
- Listen to The Gold Collar Investor Episode #9 at https://thegoldcollarinvestor.com/show9/
- The Gold Collar Investor Club – https://thegoldcollarinvestor.com/club/
- Pancham Gupta Email – firstname.lastname@example.org
- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki – https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194
- Rich Dad’s CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom by Robert T. Kiyosaki – https://www.amazon.com/Rich-Dads-CASHFLOW-Quadrant-Financial-ebook/dp/B0175P5MZU/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=
Welcome to The Gold Collar Investor podcast with your host Pancham Gupta. This podcast is dedicated to helping the high-paid professionals to break out of the Wall Street investments and create multiple income streams. Here’s your host, Pancham Gupta.
Hi there, I’m Robert Helms host of The Real Estate Guys radio program and if you want to have better results in your life you gotta put better ideas in your mind. You’re in the right place. You’re at The Gold Collar Investor podcast.
Pancham Gupta: Welcome to The Gold Collar Investor Podcast. This is your host, Pancham. Really appreciate you for tuning in today. Let’s get into today’s show. Have you ever felt stuck in life? In other words, did you ever feel that you’re working a lot but you’re not getting anywhere, kind of like a hamster running on a wheel. Our guest today is someone who felt that way, multiple times in his career. He actually switched his career twice, once he did an MBA to get into Wall Street investment business for an investment firm and after spending time there, he was still not finding fulfillment. He left that high paying job to take a job at a company that did what he eventually wanted to do. And all this revelation came to him after he read Rich Dad Poor Dad the second time many years later and found his direction in life and what he wants to do. And in this process, it did take a significant pay cut, but eventually he was able to do what he wanted to do in life. So, we will welcome Bryan here. A bit about Bryan, Bryan Flaherty is a co-founder and managing partner of CF capital. Bryan is responsible for overseeing the strategic direction of the firm, the investment strategy for acquisitions and dispositions, asset management as well as investor and equity relationships. Bryan was selected as one of the 20 people to know real estate in Louisville business first in 2019, is a member of Kentucky CCI m chapter and honored certified commercial investment member designee and the former chairman of the March of Dimes commercial reach awards 2019. Hey, Bryan, welcome to the show!
Bryan: Pancham, Good morning. How are you?
Pancham Gupta: I am doing awesome, man. How are you doing today?
Bryan: I am blessed and grateful, my friend.
Pancham Gupta: I know. I mean, I feel like I’ve known you forever now like I’ve only met for the very first time back in, I believe March in Dallas for an event there, you know, which we both, we were looking forward to ending. And it’s been May and I feel like I’ve known you forever.
Bryan: I know, I know, my friend. I think that’s what happens when you have good connections and you kind of see eye to eye and we’re kind of cut from the same cloth, as they say.
Pancham Gupta: Absolutely. Absolutely. So, I’m really looking forward to the conversation today. Before we get started, are you ready to fire up my listeners break out of Wall Street investments?
Bryan: Absolutely, Pancham. As a recovering Wall Street professional, I am ready to dive in.
Pancham Gupta: I’m sure and we are gonna get all into that. So, Brian, like tell our listener about your background, and more importantly, the person behind that background?
Bryan: Yeah, sure. Well, I’d be remised if I don’t start with my family, I have three beautiful children, two little boys. And at the recording of the podcast, baby girl that is a month and a day old. So that’s really where my life begins and ends. Outside of the family world, like yourself, I am a real estate investor, but it has been a long, a fun and interesting journey to get here. So, kind of behind the background, we’ll talk a little bit about how I arrived in this place. Like a lot of individuals, I went to high school, the college route, got out of school, went to work for the big business, was with a fortune 200 company and it was really kind of caught up in the rat race at that time. I know you yourself have read that little purple book, and I’m sure quite a few of your listeners have as well but I mentioned that here to say I was in the rat race. I thought I knew it. I knew there was something else out there. I didn’t know exactly what that was. So, I said, well, let’s try to educate myself. Let’s find a book. You know, let’s see what else I can do. I picked up Kiyosaki that was ingrained in the kind of the traditional route. Pancham, I’ve got about two thirds of the way through the book and I was like this is kooky. I don’t even know what this is. I can’t relate to it. I don’t get it. I didn’t even finish the book. I had to put it down. So, then the next best thing I say, Well, you know what, what I’m doing right now doesn’t speak to me, but I might as well go get educated again. So, I went to business school, Indiana University, left business school and went to where a lot of your listeners put a lot of their hard earned cash in Wall Street. Spent a number of years with a boutique institutional investment firm. In Wall Street, again, was kind of caught in the rat race, was spending nights, days, hours upon hours, weekends, really in that machine grinding away. And as a married and soon to be father, I knew that wasn’t the end goal for me, I knew I had to find more. I, for whatever reason picked up that purple book, again, connects when I had my aha moment. And it really clicked to me the second time that I read that book. And I said, that’s it, you know, I need to be developing these streams of cash flow, and not just be working for the man and sign in my life and hard earned savings and earnings away to the Wall Street wizards as they say. And that, ultimately, is what propelled me into the real estate field.
Pancham Gupta: Wow, there’s so much there that I want to unpack but I’ll get started like, this is very unique that we have someone here who read the book twice. And the first time it was like, I don’t even know and then didn’t finish, right. So, you go to the business school, you switch your career completely from like, what were you doing before your business school?
Bryan: Yeah, it was like human resources in consulting with a fortune 200 company, Mercer, Marsh McClellan
Pancham Gupta: Got it. And then when you left your business school for wall street, you were part of what investment company, and what were you doing as part of that company?
Bryan: So, for that firm, I was on the business development side. My background is really in numbers, but I enjoy relationships and people as well. So undergraduate degree was in Mathematical Economics. I’ve got my master’s in business. So, I know enough about all the numbers, but can also relate them to other individuals and talk to him and God loves some of the analysts on our on my former team, but the guys that are reading 10, Ks and 10 Qs on a daily basis, sometimes have a tough time getting out of that mindset. So really, I was kind of the liaison between our clients and our end analyst and Portfolio Manager. So, helping with the business development efforts, the firm,
Pancham Gupta: That’s great. So, in other words, you would be the person behind left face for the company to the actual investors who were investing in the company, which is probably the investment company in equities, and the analysts at the backend would read the 10 Qs, and the 10 Ks and spit out all that information in a way which you can understand. And then you would take that info and talk in plain English to the investors so they understand what they’re investing in, and then eventually, they will understand, and you would like they will invest, and you were the business development guy. Is that correct?
Bryan: That’s absolutely right, Pancham. To our firm was institutional equity managers. So, we were doing nothing but running money buying stocks, and the majority of our clients were larger pension funds, endowment, school endowments, clients like that, and they needed someone that could really spell things out for them in an easy fashion, so that they could then relate it back to their investment committees and investment boards.
Pancham Gupta: Alright, so I’m going to fast forward here a little bit, and then we’ll come back to this because I have, I want to unpack the mindset behind this. So, you were in HR and consulting, then resonate with you, you go to MBA school, and then you go to this mecca of money, which is false. And you are the business development guy, talking to the investors, pension funds, and all these guys still doesn’t resonate with you. And then you pick up this book, which is the cash flow, the Rich Dad, Poor Dad, and it resonates with you. And now, what happens? What do you do?
Bryan: Well, I think you had a Freudian slip there, where you are going to mention Cash Flow Quadrant, and that’s what happened next. I said, okay, this book is incredible. Like, what’s next? what’s beyond this? And I read Cashflow Quadrant and I said, man, I am the ultimate E here the employee that you know, the ESBI that Kiyosaki highlights in the book, and I say I have got to shift my mindset. I enjoyed what I did. I was blessed to be pretty good at it. But at the end of the day, I was working, making other individuals extremely wealthy. And I kind of looked at and said, I can’t do this for the next 40,50, however many years in my life and the thought of, you know, having an ultimatum that if I retire, one of two things is going to happen. First, either, I’m going to run out of money, or I croak. And you know, it’s kind of a race to the bottom of whichever happens. And I said, that doesn’t resonate with me, what I need to do is create the streams of income that Kiyosaki keeps talking about in to say, go out and develop different pipelines that are flowing to me, rather than all the money flowing away from me.
Pancham Gupta: Right? So, you read that, and you have this revelation. And now you’re pretty set to create that stream. So, what happens next right from that, how do you switch to where you are today?
Bryan: Sure, sure. So, you know, you get to that point, mentally and you say, okay, this is it. I’ve got to go and do the next thing. Well, the next question is, well, what is that next thing? And the way that I kind of work is to say, let’s define what that is, what does that ultimate goal look like? In for me, it was to launch my own firm to pivot away from institutional equity, and into more institutional, real estate. When you say real estate, obviously, there are many food groups that fall underneath that umbrella. And category, I don’t know that there’s any right sector within real estate or any wrong sector, I always kind of say, go to whichever one speaks to you the most, and that you know, anyone that you have a passion for and love that, inevitably, you’re going to be better at that one, that one that you don’t care for as much. So, I spend some time kind of discerning say which one is it retail, is it office. And luckily for me, I found multifamily spoke to me the most. So, I’m now in a position where I say, okay, I want to, I want to leave the equity world. I want to jump into the real estate world. Specifically, I want to jump into multifamily real estate, launch my own firm, I want to be putting deals together, you know, running properties. And that’s a pretty giant leap.
Pancham Gupta: Exactly.
Bryan: Knowing that I need more capital than what just I have created to do so. And so, to me, I tried to picture the roadmap and draw that roadmap in my head and say, how do I get from point A where I am now to my end goal, which is running my own firm? Well, I think there’s kind of a lost art in the United States of apprenticeship. If you rewind 100 200 years, everyone would go, they will apprentice, they will practice their craft, and then they would go do their own thing and become their own art. That’s why I said, in today’s world, where can I go, and essentially apprentice to get to this position of becoming a general partner and running my own private equity firm? Well, I kind of looked around the landscape. And I said, If I go to one of the large brokerage houses, I can be involved in deals, I can watch deals get done, I can understand the pieces of these deals from an operating perspective, from a capital raising perspective, from a financing perspective. And I really get to touch all pieces of this puzzle, while also making a living along the way. And so ultimately, that’s what I was blessed to be able to do. I spent a number of years with CBRE, which is one of the or is the largest commercial real estate firm on the globe, and I essentially brokered the deals that I’m now acquiring. So, I spent time there, I learned who the good property managers are, who to buy deals from, who do not buy deals from, you know, who to partner with, how to properly run these deals, and execute a business plan, in addition to all the underwriting that goes in on the front end. So really, I look at that as kind of my crash course kind of like my own masters within specifically within the multifamily investment niche. And it was, you know, it was always with the end goal, to launch my own firm. You know, there’s an old saying they say, if you want to go fast, go alone. If you want to go far, go together. I always thought and silly me, it showed how much I had to learn. I always thought I was gonna launch firm, do it all by myself. Once I got into it, I realized this is the ultimate team game like the absolute ultimate team game and in the bigger you go, the bigger team you need to have. And I typically have pretty lofty goals and expectations and along the way was blessed to bump into some individuals, one of which I now call my partner, but it was a very fun and educational journey from that time where I was going to pivot out of Wall Street and jump into the multifamily game. And the best way that I learned to do it was to learn, I hesitate to say, at the expense of others, but it was more alongside others and everyone that I worked with along the way.
Pancham Gupta: Wow, there’s so much gold in there, Bryan, and let me ask you this, how many years did you spend in CBRE?
Bryan: I was there for just over five years.
Pancham Gupta: And did you take any pay cut when you went from Wall Street to CBRE?
Bryan: So Pancham, I was, I remember it distinctly. My wife and I were doing some traveling, she was pregnant with our first child, we were actually in Europe at the time, and we were out to dinner and I looked at her and she said, you look like you got something pretty heavy on your mind and I said, when we get back, I’m going to leave the firm and start my own thing. And she kind of laughed and was like, okay, I’m on board, I’ll support you a 100%. I know, you’ve probably given this a lot of thought, time, and effort. And so, I couldn’t have done it without her. But then yes, when we came back and started the process of kind of deciding where I wanted to go, going from that high W2 income out to a broker’s life, which is very much it’s, it’s a transactional, it’s a transactional type of role where you only get paid by the transactions you do. And it takes a while to build your book of business and to establish yourself. So, you know, I had to go into that with that mindset, which I actually think was fantastic. Because it’s a very, it was a very entrepreneurial type of role, where I needed to be out there building my own book of business with the backdrop of the largest commercial real estate firm in the world. So, I kind of say it was entrepreneurial training wheels, where I was able to kind of step out there, but still had quite a bit of support from our parent company but is absolutely a total mindset shift to get around, going from, I’m going to make X amount per year, I’m going to have a nice bonus on the back end of the year, to stepping into a role where it was good luck, go build your book of business, you’ll get paid when a transaction closes. Oh, keep in mind, most of those transactions take about six months to close after you source a quote unquote, deal.
Pancham Gupta: Yeah. So, I want to kind of unpack that mindset there, right. So, you’ve talked to your wife, you’re in Europe, she’s very supportive. And you made up your mind before then when you talk to her. Was there any self-doubt kicking in?
Bryan: Oh, I wish I could say no, you know, 100%, I was full speed ahead. But there’s always a bit of self-doubt but I think we suffer more in our imagination than probably in reality.
Pancham Gupta: Exactly. Yeah.
Bryan: So, every time you have those moments of self-doubt, you kind of have to center yourself and go back to what your ultimate goal is, and what your why is really, and again, a somewhat newlywed and father to be, it was pretty easy to snap myself out of that to say, you better get going in and start producing, because you’ve got a family to support and at the end of the day, Pancham, I kind of looked at it. I take the mindset, the burn the boats mentality, they say, you know, what’s the best way to take the island? Well, we’ll burn the boats, don’t leave yourself any sort of backdoor outlet. So, there were absolutely days of self-doubt but when you kind of jump in the deep end of the water, there’s really only one way out, and you got to pull your bootstraps up and go make it happen.
Pancham Gupta: Absolutely. It’s funny that you say that. I actually just last week did an episode on how to overcome self-doubt. You know, it’s, there’s an amazing quote by Suzy Kassem, which talks about one of my favorite quotes actually, doubt kills more dreams than failure ever well. So, yeah, it’s so true. So, you know, thank you for sharing that, too. Now, let’s move on to you know, your life now, right. First of all, my question like, if you were to go back and change one of those things, would you say something that you would have done different now that were knowing that where you are and with the benefit of hindsight,
Bryan: I hesitate to ever say I would change anything in my past because it’s what’s brought me to where I’m at today. And I love that. I love where I’m at today. I don’t think there’s ever a direct path to success. People kind of have to find their own way. I’m a big believer that life happens for you, and not to you. So, I could go back and nitpick and say yeah, I wish I would have jumped directly into this field, you know, when I was 22 and fresh out of school, but, but I don’t know that I would have ended up at the same place. You know, I kind of had to find my way and define my path. And everything that I’ve done along the way has led me to where I’m at, at now.
Pancham Gupta: Got it. Cool. So, let’s talk about the future. Given where you are today and the company that you’ve set up with your partner, Tyler. And so, what goals you have that you’re most inspired by and uncomfortable with, that you’re working towards now?
Bryan: Yeah, I love the idea of making uncomfortable goals. To me all goals should be uncomfortable. And when Tyler and I sat down, and we were kind of really developing our thoughts for the firm, you know, it wasn’t okay, let’s buy a couple deals here or there and where things make sense, it’s no, let’s really go out and provide opportunities to folks like your listener base, that don’t have these outlets. They don’t understand a way to get out of the herd and to break away and to get into things like alternative investments like multifamily real estate. And to do that, we said, we’ve got to provide numerous attractive opportunities. And we set out to make a goal of let’s go operate, let’s go buy 10,000 units, so 10,000, apartment doors. Let’s buy close to a billion dollars in real estate in do it in a way that provides an opportunity to our investors. Our tagline for our firm is “Elevating communities together”, which means we want to elevate our investor base, but also our resident base, and the employees that work for us. So, everything we do is really kind of driven by that goal. And to support it’s kind of a triangle. If we want to support our investor base, we want to support the folks that live in our apartment communities. And then of course, we want to take care of the employees that partner with us as well.
Pancham Gupta: I love it, going from that Cashflow Quadrant analogy, from the reading that book from being in the E quadrant to going into the high quadrant and providing others who are in the E quadrant with the opportunities to be part of the I quadrant is just awesome. So, for people who don’t know what we’re talking about ESB and I this, this is from the book Cashflow Quadrant. Actually, that book has changed many, many people’s lives, including mine. And if you haven’t read the book, I highly, highly recommend that. And if you want to read a summary, like from my point of view, I actually did an episode on it, you can go to show number nine, thegoldcollarinvestor.com/show9 to check out about the summary of the book. So, with that, Bryan, let me switch gears here and ask you about your failures in life. Have you had any failures or one specific failure that you can speak about that you think that sets you up for later success, and you were, you were glad that the benefit of hindsight that it happened and bought you where you are today?
Bryan: Oh, gosh, the list is long Pancham, so I’d have plenty to choose from. I think one thing that really spoke to me, first off, I’ll say, to me, it’s not a failure, if you learn something, if you take something from it, and it propels you forward, you know, they say they say fall forward. So, make any of those failures or seminars or whatever you want to call them, you know, to your advantage. And we kind of talk about it within our firm and we say find the gift in every challenge. And anytime we are faced with a challenge, there’s a gift in there somewhere, it’s up to us to find it. But for me, I think going back to it was I’ve found in kind of relates to my former life on Wall Street to say, maybe it wasn’t specifically my error, but we would go in and we would underwrite these deals, and the guys I worked with were just super sharp and brilliant minds. And the fundamentals of a business would be super solid. And then their CEO would go on CNBC or wherever and say something silly, and stock plummets, boom, you know, go nose dives. And I’m thinking to myself, this is this is unbelievable, like, nothing has changed here with this company. And now I’m losing money on it and my investment dollars are now gone. And I was thinking, I need to find something that I can control myself. I need to find something that I can kind of force the bottom line for. So, you know, I tried my hand and well, okay, maybe I’ll take a step outside of, you know, going through the professional portfolio managers and the index funds and I’ll do a little bit of trading on myself and, oh, boy, that was that was a big mistake. So dabbling kind of in that area. But, you know, to me, some of my biggest failures are when I wasn’t a 100% committed to things. It was when I tried to just kind of do things on the fringes and again, kind of dabble and that’s kind of when I get hurt in any of my type investments. So, it was really a matter of let’s jump in, let’s go 110% of the way in and that’s the way that I’ve been able to kind of get around any of the failures in my life.
Pancham Gupta: Great. I think I can resonate with that myself. It was pretty well said. So, my final question for this round before we move on to the next round, is do you have any morning routine that you follow? If so, what is it? And do you think that attributes to your success?
Bryan: 100% I have to start my day out the same seven days a week, I’m kind of an early bird, I’m up before the rest of the household. Like I mentioned, I’ve got three beautiful kiddos. So, whether it’s you know, during the middle of the week, or Saturday or Sunday, I’m up at or before 530 I spend some time meditating, I spend some time in prayer. I also have annual goals that I chunked down into quarterly goals. I read those goals to myself every morning, it really helps me kind of prime and set my day up. And then I try to find some sort of exercise whether that’s going to the gym doing some yoga, getting out for a walk with the dog, but something to get my blood going and pumping in the morning to kind of wake up alongside a cup of coffee but my morning routine is something that I hold very sacred and something that I tried never to shy away from it’s amazing how if I have a day, maybe even two days where I don’t get that morning routine, I notice it immediately in my daily habits my daily life and it just is the best way to kind of prime me and set me up for the day.
Pancham Gupta: Awesome. Love it. Well, Bryan, thank you for sharing that. We’ll be back after this message… Do you ever feel overwhelmed by the thought that you have no time after work, and family time to learn about investing? Do you feel left behind that you are not putting your money to work for you? Do you want to create passive income, but you do not know where to start? If so, I have good news for you. I have created an investor club which I called The Gold Collar Investor Club for accredited investors. I will be putting together investing opportunities exclusively for this group. These are the opportunities where I have done my part of the due diligence for you and we’ll be investing my own money alongside you. If you are interested, please sign up on thegoldcollar investor.com/club. I repeat, thegoldcollarinvestor.com/club. I will reach out to schedule a 30 minute phone conversation to discuss your investing goals. Once you sign up, this can be a good opportunity to diversify and take some chips off the hands of Wall Street to produce some cash flow. And in case you are wondering what an accredited investor is, accredited investor is someone who has earned more than 200,000 as filing single or more than 300,000 filing jointly for the last two years. Another way to qualify as an accredited investor is if your total net worth is more than $1 million, excluding your personal home, it includes your stocks, 401k’s, IRAs, cars, etc. Just not the equity in your personal home. If this is you, I would highly encourage you to sign up… Now we’ll go to the next section of the show, Bryan. I call this round taking the leap round and ask these four questions to every guest on my show. My first question for you is when was the first time you invested outside of Wall Street?
Bryan: It was a number of years ago and a multifamily deal again, kind of getting back to the thought process of I want to learn with others. I invested in a syndication as a limited partner because I wanted to see how are these guys doing it? Well, you know, what’s the peek behind the curtain? I want to see how they communicate. I want to see how they run the deal. I want to understand how the distributions come about. So that was about three years or so ago, I came in as a limited partner in a multifamily deal both because I wanted to profit but also again because I wanted to understand how this group that I kind of aspired to be like was doing business.
Pancham Gupta: Okay, so your first outside investment was actually a passive investment.
Bryan: That’s correct, yes.
Pancham Gupta: Got it. Alright, so did you have any fears that you had to overcome when you actually decided on that group because you know, it’s very hard. The mindset is very different when you are investing in a stock by click of a button without even letting anyone know you’re just sitting on your computer versus investing with someone?
Bryan: Absolutely. I mean, I’m, historically I’ve been a bit of a control freak. And anytime you are letting go of that control, there’s a little bit that you have to get over internally. And then there’s just the whole mindset shift of I’m doing things differently than everyone else. I mean, there’s sometimes safety in the herd. And there’s a lot of people that put their money into Wall Street and it’s kind of a well, I hope it does well. And if not, well, everyone else will, you know, be going the wrong way with me. So at least there’ll be misery loves company. So, I had to get over, I had to get over kind of doing something that was different than what the majority of the individuals I knew were currently investing in. I had to get comfortable with the fact that, you know, it wasn’t me running the deal, that it was someone else. But at the end of the day, I invested with them, because I trusted them. In this business is all about relationships and trust. To me, the way I kind of liken it is, most individuals, they go to their investment advisor, stockbroker, whatever you want to call them, not because they think they’re the absolute best person in the world at picking stocks, they go to them because they think that they’re knowledgeable, and at the end of the day, they trust them. And that’s how I got over those fears.
Pancham Gupta: Cool. So, my third question here, Bryan, for you is, can you share with us one investment that did not go as expected?
Bryan: Oh, gosh, like I mentioned a few minutes ago, day trading. I tried my hand in that, it was mentally exhausting, it was financially very unsuccessful, and it again made me realize the guys that do that at a professional level, and that are backed by billions and billions of dollars, they just have tools that the common person does not have. And that’s a whole different rabbit hole we could get into about high frequency trading and things like that but yes, I tried my hand at that I lasted about two and a half days. I think I was exhausted for about a month and never went back to trying it again.
Pancham Gupta: Are you saying that you did not read 10 Ks and 10 Qs like five times a day?
Bryan: No. I was staying on momentum and quote unquote tips and everything else. And I think I would have been better go into the horse track and put in money on a horse with my favorite color.
Pancham Gupta: Yeah, actually talking about that. You’re actually in Louisville, Kentucky, the house of you know the derby,
Bryan: That’s right. Just weeks after the derby here. Yes, I’ll say I’ve fared better in horse racing betting than I did in the day trading which really says something because I’m no handicapper.
Pancham Gupta: I actually want to go to one of these derbies you know, one of these days we’ll see when that pans out. So, my final question here Bryan for you is what one piece of advice you is would give to people who are thinking of investing in main street just like you did, and that is outside of Wall Street.
Bryan: I’d say get educated and take action. At the end of the day, you need to be comfortable with who you’re investing with, but you also need to be in control You’re the one, your listener base, they’re the ones that define their financial future and they need to take some ownership in that so get educated pick up books, go to meetups, reach out to families, friends, colleagues that are investing outside of Wall Street. Understand what they do and then take action don’t just read about it, don’t just listen to this podcast, don’t listen to other podcasts, and do nothing about it but actually take action with that knowledge
Pancham Gupta: Yeah, you know there is this quote, I don’t know who said it. like “Knowledge is potential power, not knowledge is power” so it converts to power once you take action, so I think that’s what your message. Love it. So, you know Bryan this has been awesome, and you know I absolutely connected with so many things that you said, and this is probably, you’re probably first guests who read the Rich Dad Poor Dad twice and it’s the second time when it finally resonated, and I absolutely love it that you took action very serious action, and you know switched jobs twice and it’s just awesome. So, you know, I know you’ve put together something for the listeners here to enjoy your bread and butter investments here is the multifamily apartment buildings and you have something called The Bottom Line, 10 Ways to Increase Cash Flow in an apartment complex. Tell us about the report and also how can people get it?
Bryan: Yeah, absolutely will appreciate it, Pancham. First off, your listeners can get it by reaching out to me at Bryan that’s email@example.com. That is an eBook that my partner and I have put together specific to multifamily real estate Investing and it’s going to help your listener base understand how they, if they’re operating multifamily apartment units can increase their bottom line but also how we do it within our firm at CF capital. So, I’d encourage everybody to reach out, grab a copy of that, and then Institute those techniques, either you know, with yourself or by jumping in and coming in as an LP to with a group that that is doing similar type of techniques.
Pancham Gupta: Great. Thank you, Bryan, any parting words for the listeners that you want to share?
Bryan: Again, Pancham, I appreciate the time. I’m thankful for all of your listeners. And at the end of the day, take action, give back. Life is all about giving back and enjoying the journey along the way.
Pancham Gupta: Awesome. Thank you, Bryan, for your time here today.
Bryan: Thanks, Pancham. Thanks everyone.
Pancham Gupta: I hope you learned something from Bryan’s experience. He’s the first guest who’s read The Rich Dad Poor Dad and The Cashflow Quadrant like twice and actually was able to take the learnings from it and find out what he wants to do in life and then actually do it. So, thanks for listening. If you have questions, don’t hesitate to email me at p@the goldcollarinvestor.com, that’s p as in Paul at thegoldcollarinvestor.com and if you want to get the report that Bryan has written, Brandon Tyler has written, go check it out at firstname.lastname@example.org. This has been Pancham signing off. Until next time, take care.
Thank you for listening to The Gold Collar Investor Podcast. If you love what you’ve heard and you want more of Pancham Gupta, visit us at www.thegoldcollar investor.com and follow us on Facebook@thegoldcollarinvestor. The information on this podcast are opinions as always, please consult your own financial team before investing.