Fix n Flip TV Shows and Real Estate Investing with Dave Seymour | The Real Estate Investing Club #39

Fix n Flip TV Shows and Real Estate Investing with Dave Seymour | The Real Estate Investing Club #39

Gabriel Petersen 0:02
Hello and welcome to another episode of The Real Estate Investing club. Place investors go to learn tips, tricks and stories from other investors in the field. If you feel we provide value to you go ahead and hit that thumbs up, share whatever it may be. And if you’d like for us to cover a specific topic, let us know in the comments or reach out to us on our website. Today we have a very special guest. So buckle up, grab your pen and paper and enjoy the ride.

And we are live. Dave, thank you very much for coming on the show. How are you doing?

Dave Seymour 0:39
I’m doing well. Okay, how are you brother?

Gabriel Petersen 0:41
I’m doing fantastic. To get us started. Roger, tell everyone listening and watching who you are, where you’re from and how you got started in real estate in first place.

Dave Seymour 0:52
My name is Dave. I’m an alcoholic. Oh, that’s a different that’s a different pocket different one different one. Yeah Dave Siebel you know, some of you viewers listeners might recognize me from from the hit TV show flippin Boston on the a&e network and a nice run with that it was a lot of fun. I’ve done a lot of stuff, Gabe, I mean, my company is called freedom venture investments. And we’re a private equity firm today, but I’ve done it was funny we were talking before we went live some of your other guests that you’ve you’ve had and you know, one was a developer one was a fund manager one was a buy, fix and flip Yes, tick all of those boxes in my Korea so yeah, Dave Sema flippin Boston freedom venture investments, say you thought it was called baby. I love it. I love it.

Gabriel Petersen 1:43
So I like to start the show, with learning how you know, the very first thing that that got you into real estate, you know, as investors we always it’s always like just the most random things that really started us down the path. So kind of take us to you know, however, Many years ago, did maybe you just kind of like walk down the street and you saw someone be flipping or like, Hey, what are you doing? Or, or how did you really get into the game?

Dave Seymour 2:09
I wish I wish it was that way, man. I really do. You know, I’m up in Boston now. So I have a little bit of a Boston accent but I’m actually I’m actually an immigrant to this country. Don’t tell anyone. I’m a naturalized citizen carry us possible but I came from from England. I was born in London. I was raised in the south of England. I emigrated back in 1986. And you know, a lot to keep the long story short, I was very good at following the financial plan that was laid out by my father and his father before him, right, which was really trade time for money. You know, and if all you do is trade time for money and you want to up your financial game, you’re screwed blued and tattooed brother, I mean, you know, there’s a ceiling on time. And you couple that with financial illiteracy, like I I refer to myself as a financial donkey back then, you know, I didn’t I didn’t understand money. I didn’t understand how to invest capital. And 2006 and a half, seven around that area. I was about $70,000 in unsecured debt. I was losing my house. And at that moment in my life I was I was a firefighter and a paramedic. I worked in the city of Lynn Massachusetts, and I was probably working about 120 hours a week. Wow. Yeah firefighting work construction is all firefighters doing their days off.

Retail security rather nights and weekends. I was Wow.

It was kind of crazy. But anyway, I was. I was hurting man. I mean, it was costing me a marriage. Customer Relationship with my now all this boy 2024 Robert, but I heard a commercial on the radio It was Teach me foreclosure, a free one and a half hour seminar company, your neck of the woods. Right? So you’re the guy, you’re the guy they got, yeah, the guy they got done, they got me to, you know, I 10s of thousands of investment in my education in 2000 and late seven, early 2008. But you know, what was different man, the education wasn’t that good. I’m gonna be frank with you. It wasn’t that good. But what I figured out that day was is I started to learn some some financial nuggets that I’d never heard anybody talk about any any before me. They told me that debt was good. And I’m like, Ah, yeah, that was good debt was a tool. And I’m like, Yeah, well, it’s a tool in your toolbox, but it’s not a tool of mine. I go in the bank and they tell me to leave you know, but I heard you know, trading time for money is dead. I heard that. You know, college education may not be the number one vehicle to financial freedom. You know, my brain started ticking over man. And anyway, I, I did what they told me to do. I bought 20 plus $7,000 worth of accountability that day, I believe. And you know what I mean? You know, it started from there. My very first transaction was a was a wholesale deal. I made $5,000 that That’s funny.

Gabriel Petersen 5:25
That seems to be the number that was that’s how much I made on my first wholesale deal. I feel like I’ve read their first deal

Dave Seymour 5:31
is 5000. That’s good. I’ve got this check in my hands for five grand and it was made out to my company and I didn’t know in the building and I remember leaving the attorney’s office and I stepped out onto the sidewalk. And I was waiting to hear five oh, it fell it fell illegal dude, think about think about what some people are doing to earn $5,000 right. How many hours that they tried how much time away from family? And, you know, it was legal dude. What’s legal, and I took it to the bank and the cheque didn’t bounce. And I’m like, I don’t know what this is, but I think I’m gonna do it again. looking behind your shoulder they could Yeah, dude, looking over my shoulder, I was right for the big black sedans to pull up. So yeah, that’s how it started. And it was funny and then and then the market crashed. And the market crashed. And it’s like, and I used a I use the philosophy then that I’ve kind of used ever since. And it was it’s I call it a firefighter mentality. When everybody else went rushing out. as firefighters we go rushing in. And I thought about real estate the same way when everybody gets on a bandwagon. And they say, Oh, this is the best thing ever. Come on everybody. Yeah, some questions and that that philosophy hasn’t hasn’t hurt me so far. Right? So far. So yeah, man. That’s that’s where it’s at. added that was almost 12 years ago.

Gabriel Petersen 7:03
Awesome. There are a lot of good nuggets in there. So I’m just gonna recap real quick for everybody. So it sounds like you know, you got started in life in UK in the UK over there and you came over in 1986 2006 you were 70,000 in debt, you’re losing your house, you’re working multiple jobs, firefighter, paramedic, construction security, like all I mean, sounds like you’re just working yourself to the bone while still being in debt and losing money losing your house. At that time, you heard somebody on the radio, they were just talking about this real estate thing, investing in notes. And so you decided to take your first your first foray down in the path of, you know, real estate education. You know, they taught you dead is good, which is very counterintuitive to what a lot of people, you know, grow up learning about. And so you started you kept going down that path, you learned a little bit more, and you decided to do a wholesale deal. Did you First wholesale deal $5,000 which is exactly how much everybody gets on their first wholesale deal.

Dave Seymour 8:07
Manual. Your first deal

Gabriel Petersen 8:09
five grand. Exactly. And you know you didn’t go to prison you realize it was a it was a legal thing. And so 2008 crash happened and you decided to Zig when everyone else was zagging and and you decided to jump in after that point. So kind of what’s happened since then? You’ve been sounds like you’ve been doing pretty much everything investing in single family multifamily commercial. You have a fund. So what’s your main bread and butter? Today?

Dave Seymour 8:37
Yeah, great questions, man. You know, real estate is cyclical guy. It always has been, you know, if, if you really want to predict what real estate is going to do, you can. All you have to do is look behind you, you know, but you don’t look back 30 days or 60 days. You’re looking at a 20 year or 2024 year cycle. And, you know, my career started, like I said, with the with the buy, fix and flips and we did a ton of those we were recognized for, for for our professionalism and our execution, we did the TV show and along the way, I think there’s a natural progression with real estate. Some people deny the progression, some people embrace it, I’ve embraced it, you know, I don’t mean to diminish for anybody who loves flipping houses, but flipping houses as a flippin pain in the assets. You know what I’m saying? They don’t get my heart rate up. They just look the chunks of change are nice, don’t get me wrong, but it’s still a job, right? If I don’t flip a house I don’t get paid. So I learned very quickly the power of positive cash flows through through buy and hold. Nice portfolio up to about 50 or 60 units at one point up in Sanford, Maine, of all places, which is a it’s a it’s a it’s a rough little area. It’s not it’s not Not

it’s not some of the nicer parts of Hollywood.

Unknown Speaker 10:03
But,

Dave Seymour 10:05
you know, it was it was labor intensive. But you know, I structured it nicely in the sense that I had a business partner, my partner did all the property management and dealt with the, with some of the Jerry Springer tenants that walk the face of the earth. So, but you know, you learn you learn the power of letting money and real estate go to work for you rather than you going to work for the money. Right. And that, you know, that took me to some great places. I was blessed to share education spaces with some of the biggest names in the education space. I’ve shared stages with daymond john from Shark Tank. You know, I worked I worked an event and shared some experience with in front of 16,000 Canadians one time. A lot of my Robbins was yelled at Tony Robbins. pit bull with a draws for that event. And there were people comes on stage man and he’s got he’s got all of his all of his Latino lovelies doing singing his songs and my wife came with me and I go out front and we’re shaking our booty at this event. And then I look around, and there’s 16,000 Canadians and if you got any Canadian viewers or anybody from Canada hears this, I’m just telling you what I saw. And what I saw was 16,000 people really didn’t have a lot of rhythm man.

It was hard to see 60 Canadians Denson father,

as a giggles, but you know, it was good. And then today we we just went through a little bit of a challenge, as many people have have on a serious note with COVID Yeah, at the beginning of this this year 2020. You know, we all had a lot of high hopes, right. We had a lot of aspiration financial socioeconomically culturally, I mean, everything was was moving in a positive direction. politics aside, right, it was moving in a in a positive direction. And we were in the process of putting together a hard money lending business. Because I’m so proficient in buy, fix and flip, that gives me the skill sets to be proficient in the capital for that investment strategy. And we had probably about $15 million in what we call the pipe ready to get funded out to to our investors all across the country, and COVID hit because of the way funding was structured. All of the loans that we originated, were actually purchased by wall street, the secondary, tertiary financial markets. And when COVID did what it did to our economy, everybody who had a tolerance for risky investments, which is really what they are, they’re what’s called non qm and the owner Occupy Wall So now we’re good. We don’t want any more of these. And that that eliminated the business model. You know, true entrepreneurs will will take take a beating, and then they get back up. One trip runners take a beating and don’t get back up again. Right? Yeah. Oh, that didn’t work. And then they walk away. So you know, that we step back, we looked, and we said, you know, what, what was the challenge with that business model? And it was the fact that the capital control was not in our hands, because we needed to be able to sell the mortgages that we originated for us to keep on originating mortgages. So we stepped back and said, Okay, so how about we control the capital? Well, what does that look like? I don’t have 100 million dollars in my bank account. I wish I did, but I don’t right. And even if I did, it won’t be sitting in my bank account, it will be going to work. So I connected with a very dear friend of mine, plus my business partner Eric Wilson. gentleman by the name of Walton, the Vicki Walter is probably done about 120 million in what are called syndicated commercial deals in multifamily. Down in the Florida market, Gulf Coast, Fort Myers all up that side. That’s the Northeast money goes goes south go Southwest, Florida. And he called me up out of the blue and he said, What are you doing? I said, you know, we got some challenges. He said, timing is perfect. And we have now a private placement memorandum for what is called a hybrid fund. It’s a private equity fund. We’re raising 100 million dollars. And our business plan is to purchase multifamily assets in that region with what we call a value add but a light value add you know, it has categories attached to it, which to detail oriented for this, but we’re in a category of aquas Where we will buy 40 to maybe 120 unit apartment complex with upside potential in rents and some light renovations, and then execute out of those in six year exit plan. And our investors are looking to get out of targeted returns have what’s called an IRR or an internal rate of return of 18% 18 to 20% plus, that’s good and we can only put that on our on our paperwork based off of sec compliance, and then also our past past performances. So think about it brother 12 years ago, I get a check for five grand 12 years later, I’m one of three fund managers you know, managing 100 million dollar private equity fund invested in the Gulf Coast of Florida how you thought

I like teachers in school would never believe me if I tell them that.

Gabriel Petersen 15:52
It’s amazing what the trajectory of a real estate career can do. So that’s awesome. So I mean, 2008 crash happens sent you you were doing fixing flips. Sounds like you’ve got 50 units up in Maine. Why did you choose to invest in Maine when you were living so far? Great

Dave Seymour 16:09
question. So if anybody understands commercial real estate, commercial real estate is is purchased based off of three numbers really it’s called a cash on cash return, or a capitalization rate is another number we identify and then the debt service coverage ratio does that does the property qualify for a bank loan? We identified that Sanford Maine, I could purchase multifamily assets up there for around like the market trade, if you will, what they would regularly sell out was anywhere between a 10 to a 12 cap or 10 to 12% return. It’s really cool. When we went in there I was able to identify properties and some of them we were we were taking them down at like a 16 or an 18 cap on the buy side with the with a little bit of renovations. You put those in a spreadsheet. I mean, I I just liquidated out of that 90% of that portfolio and more than doubled, doubled the value on sale in less than five years for five years. So you know, that’s that’s, that’s redonkulous. Dude, you start looking at those numbers and you go, oh my god, I’m waiting for the cops again. You know what I mean? Like, that’s a bigger $5,000 check is though, one of one of the one of the guys who who was a mentor to me in the in the multifamily arena 10 years ago. He used to say to me, it’s just zeros, Dave. It’s just zeros. It’s the same amount of work. If you can take your blue collar mentality and put it over there and bring a white collar, you know, thought a blue he used to say to me a blue collar attitude in a white collar world. He said, Brett, you know, he said it’s just zeros. It’s just zeros. And, you know, I never forgot that and I don’t want to over simplify it. Obviously there’s that there’s a you know, there’s 1000 layers of work that needs to be done to support that kind of thought process. But, you know, I like to keep it simple. You know what I mean? I don’t like to overcomplicate it. Does the deal make sense to the numbers make sense? Can I do what I say I’m going to do to that property? If I could say yes to all of those, I’m buying it. My investors love the fact that I buy like that. And I don’t know, analysis, paralysis, none of that stuff. Let’s execute. Otherwise, what’s the point in doing it? If you’re not going to spend the money and actually invest? You know,

Gabriel Petersen 18:28
you? Yep. You just got to find the right deal. And I mean, you’re absolutely right to it to a degree. It doesn’t really matter how large the property is. Real estate is real estate transactions are transactions and there isn’t necessarily that much more effort when you’re adding zeros onto the equation. So I love that. So it sounds like during COVID COVID happened you were you were starting this hard money business. But COVID happened and so you decided to pivot and now you you’ve opened a fund 40 you’re investing in 40 to 100 20 unit multifamily properties with a six year exit and 18% IRR. So congratulations. Good. Make sure you say the word targeted 18% targeted IRR not guaranteed and we will try to underline that one. Yeah, that that is awesome. That brings us up to current day. I mean, I love the I love the trajectory. I’m gonna pivot just a little bit actually wait, I’m gonna go back one step. You’ve done a whole bunch of different types of deals. The one thing that I like to ask, every person that comes on here is how you find the deals in this this environment that we’re in right now, you know, deal with deal flow can be difficult for many investors. And so what is the best tool, the best thing that you do to to bring the those deals that are high cap rate, you know, 16 Plus, what are the activities that you do to actually generate those leads?

Dave Seymour 19:55
Yeah, that’s a great question as well man, and I’ve been asked that many times. I will I would love to be untruthful, right? I would love to be untruthful and say, you know, I have the most automated systematized Direct Mail Online Marketing processes that the world has ever, ever. I would love to tell you that. And there are some guys out there that have been able to build fantastic businesses around those marketing strategies. I’m not that guy. You know, for me, it’s a little bit different. Hey, that’s Dave seem all right from the national TV show flip. I saw you on CNBC. I saw you on the Today Show. I saw you on Squawk Box, right. I just had a conference before we did our call with with a couple of gentlemen and, you know, we’re talking about putting together that I’m always being asked about do you want to do another show? Right. And they were saying to me, Well, you know, what was the true upside potential of the show? It was it was it was acknowledgement it was being recognized it was being sought out. So a lot of my deals were inbound rather than outbound. However, here’s the truth of the matter the underlining flow, if you will, is real simple. It’s the network who who do you know? And who knows what you do. Yeah, right. That’s that’s the magic right there. I’m recognized as a national expert in real estate investing both in fund management, all the way down to single family don’t get my hot write up by fixing flippers, right. I’m recognized for that. And the hard part for a lot of newer investors and even some established investors is deal flow. Now I understand automation and online automation, I get it. But if you don’t understand that game, you can get crucified by SEO guys who will charge you a nominal leg with no results and you’ve got you’ve got nothing to you know, I’ve been down that road. I’d be lying to you if I said it was easy, but I’d also be lying to you if I said it didn’t work. It does work, but it requires consistency. It requires an allocation of cash. To marketing, you know, ad budget for marketing is north of probably 15 $20,000 for this fund, and that’s with national recognition. But you know, I want to identify and target who my avatar is, and then dial it into them. And if and if you know, and if an investor can really work that magic, then they’ll lead flows a lot better. For sure. I love that’s not very helpful, but it’s the truth.

Gabriel Petersen 22:29
No, no, it’s great. So it sounds like I mean, obviously, you were you were bullied a little bit by your, your national recognition being on the on the TV show, you know that that helps out obviously, a lot. It’s a lot of recognition. But then also relationships. You mentioned relationships, having a big network is really helps bring in those those lead flows. And then also, I mean, it’s not your bread and butter, but the but having a marketing system, putting the dollars out there to work for you. kind of helps to bring those leads in as well.

Dave Seymour 22:58
Yeah, I’ll give you an idea. example of how powerful the right person can be in any marketing scenario. So when we put the fun together I’ll give you an example when we put the fun together we were beginning to have some conversations between myself and my partner Eric the younger guy from Eric Wilson is from fidelity basically he worked within the financial fidelity structure young guy he he’s he’s funny man he he’s a computer science major at the same time so you’ve got finance and computer you know making money. And when those who have financial and computer science a getting a little smoky magic happens. And Eric has those skill sets. Not only does he have them he has an incredibly high level the ability to to build automation, the ability to to run Excel spreadsheets, like like a ninja is incredible. But anyway, together Give an example of marketing and strength and the right person. We’re having a conversation with our other partner Walter, at Chief Investment Officer in Florida. And we’re talking about who we going to target for capital. We want the right people in. And Walter was saying, you know, these family offices is what they call basically. So it’s very typical in our country to have a family that has a lot of capital, well known families, right? Oh, yeah. So they might sit on 2030 4050, maybe 100 million dollars. And then they have a representative that invests their capital for them, whether it’s stocks or bonds. So as we’re having this conversation, and Walter says, we should be able to reach out to as many family offices as we can, with the caveat of the guy from the TV show may come in the farm bah, bah, bah, bah. This is early in that conversation. Eric says to Walter, check your email, Walter checks his email and there’s a spreadsheet on there, he opens it and Walter says, What the hell is this? He said, I just wrote some code. we scrape the internet for everything that match that criteria. I’m like, Wow, nice a lot is like, I think we should do some business together. I’m not sure what it looks like but that that guy’s with us, right? That’s that’s a skill set brother. Right that and then some nice video, some drip campaigns with emails, some automation, social media overlapping. I mean, it’s it can be it can be a pretty big big ship to steer. So yeah, get the right people around. You magic happens. I love it.

Gabriel Petersen 25:39
All right. And we are going to transition us into the end of the show. Before we do though, I I would be remiss if I did not ask about the show that you did. You know, back in the day, flipping Boston. So you did that sounds like eight years. Just I know. We don’t want to go into this too much. But just tell us you know, how was that how’d you get started and just you know, and then You could

Dave Seymour 26:00
you can find episodes of all the episodes of flippin Boston right now on Amazon Prime coming directly from Jeff Bezos. It’s on Amazon Prime right now. Look, I never I never intended to do that it wasn’t like that. That was a goal. I was I was working in the education space, I was teaching what I what I was doing. I was teaching it for other guys as well as myself. And somebody sent me a link in 2010, maybe around there. And they said that there was a production company in New York that was looking for new talent. And I sent in an online application and I loaded it with profanity. I’m not gonna say the words that I put in there on this show, but I’m telling you, you know, I make Gordon Ramsay look like a little schoolgirl. The amount of profanity I used in the second I did it because I wanted to get recognized. What do I What did I have to lose? stand out and you know, they called from New York. They They said you’re either crazy or a genius. When they read my thing. Within minutes. They called me. I hung up on them actually, I said, don’t you’re wasting my time. Planes, Trains and Automobiles get off the phone. And they came out, they shot a little demo, at&t network said to the production company, that big Englishman looks like he could get a little angry. We’d like to see more of that. And, you know, we did three shows and we were the highest rated lifetime programming segment for a and he It was a couple of million people dialed in and said, these guys are good. And I thought to myself, America is it that’s no joke it. We figured it was not then and then it wasn’t nothing. We did an episode right around the Boston Marathon bombing. We will film it in East Boston with a gentleman by the name of Jermaine Wiggins, to tie it in for the New England Patriots. New England Patriots You know, wiggy came and did an episode with us. And you know, we did a lot of good work, we helped some people. And it was great for business, but you know what it? It sucked. Yeah, having a camera up your tushie 24 seven, walking through the same door 10 times to get the right shot. You know, when we first started, everything was pretty, you know, on the money, if something went wrong, it really went wrong. And you know, it got a little shaky. You bend reality a little bit, especially when they want 15 episodes of season or whatever it was your own. So, plus, we didn’t do lick and stick baby. I mean, no lipstick on a pig with daddy. You know what I mean? I’m ripping it a new love lips, ripping a new rear end and make it a beautiful home out of them. So they didn’t they didn’t move fast enough, but it was a blessing. And it was a curse and it was a blessing and a curse and a blessing and a curse depending on which day you got up. No. So yeah,

Gabriel Petersen 28:56
yeah, I’ve I have a couple friends who do flips and they’ve been they’ve been Trying to get their own show. And I always thought like that sounds like more hassle than it’s worth but maybe not I mean I don’t know does sound like a lot of fun though and so I’m sure all the viewers appreciate you doing it at least

Dave Seymour 29:12
Yeah, we had a good time with it man we did. But yeah, everything has its day right? I’m not cool anymore. Now they dig me up Dog the Bounty Hunter you know, they you know they look for these Oh, reality TV, as long as they don’t do an episode of Wednesday from flippin Boston and they find me under a bridge in Eastern or something like that. That doesn’t happen I should be

Gabriel Petersen 29:35
alright at all. All right, so I’m gonna I’m going to transition us into the end here. I want to hear just one more story from you though. We all know real estate. It is a roller coaster. If you’re in it long enough. You get bottoms, you get tops. So just real quick summarize. Take us to one of the valleys that you’ve experienced. You know what one of the one of the you know, the lower points and then just give us the lesson that you learn from that.

Unknown Speaker 29:59
Sure. Sure.

Dave Seymour 30:02
People ask me, you know which which was your worst deal ever. I’ll be direct with you, man. It was prior to being educated. On story short, I had an attorney who was a friend, parenthesis. And I went to him and I said, you know a lot, buddy. I said, I know how to do construction. You’re an attorney. Maybe if you find the money, I find a deal. We could put something together. What do you think? He said? Yeah, sounds good. Dave, you know, sounds like a plan. I found a two family property in Lynn Massachusetts, late 2006, early 2007. It had a had a gentleman in it. The place was was was rough man. I mean that the sanitary wasn’t wasn’t in play. There was water wasn’t working. And yet it was an older gentleman living in there. Anyway, long story short. The attorney says, Yeah, I’ll get you a hard money loan on there for 125,000 which was the purchase price of the property. He said, we’ll put it in your wife’s name. I’m like, Okay, what do I know? I’m a financial donkey. So you I see your reaction to that. I’m like, it’s my friend. I trust him. And we get along for 125,000. And then we can’t get the old guy to move out of there because he’s a disabled veteran. And then that goes for one month, two months, three months, four months, five months. And then the market changes, and we go into high, and we go into a crash. And then I was in the firehouse, and my wife called me and she was crying her eyes out because the sheriff’s department had just so though with with some paperwork for a foreclosure on this asset, because the attorney had never paid one single payment and and not only did I get intelligent after that real quick, the hard money lender had to take back the asset because I was still in debt up to my eyeballs. Number one, but then number two, I learned how to read contracts. And it wasn’t $125,000 loan It was $150,000 loan 25 so listen to me, boys and girls, ladies and gentlemen. It’s frickin education, because I learned that lesson for you. Now, this many years later, you know, I’m almost like an advocate for everybody who invest with me, man, because I know there are sharks in the water. I know that the scumbags out there, man, they’re looking for an opportunity to hurt not help. And I think that real estate is a fantastic chance to help and not hurt. So that’s my that’s my thing, man. That’s me.

Gabriel Petersen 32:26
So you It sounds like you got into a deal you got you got swindled essentially, by a partner who you thought you could trust. I mean, the big lesson there, you said it yourself. You got to read contracts, you got to know that but also you really have to know who you’re getting into bed with. You said it yourself. Relationships are everything. So only deal with people who have high the highest integrity possible. I love it. So you know you learn those lessons you’ve gone through, you know, you’re back on the other side, you’re back on top. Tell us you’re at the peak of the hill here. You’re at the mountain top watch What gets you out of bed? Why do you still love real estate? Yeah, dude,

Dave Seymour 33:03
that’s a great question. I’m having fun. Are you having fun? I’m loving it I’m loving it I’m talking about me It’s my favorite subject in California

Unknown Speaker 33:14
that was unnecessary that’s why for the California you know why cuz i

Unknown Speaker 33:18
can i can write as a Canadian.

Dave Seymour 33:22
Yeah, Canadians and Californians I love them all. Excuse me. Yeah. Here’s what gets me here’s what gets me out of bed today.

I had a conversation with a with a with a doctor recently have formed a great relationship with him and his sons. I’ve helped his boys through some, some real estate buy fix and flips right here. And you know, relationships are powerful things, man, when there’s reciprocity, when there’s decency and there’s integrity, magic happens. And we were talking the other day and he said, You know what’s going on with your your private placement memorandum. And I gave him the big picture because I haven’t filled in all the details up until you know recently. And he said, I like that. He said, You know what a friend of mine is also a doctor at a practice in New York, and he was going to sell some his his products like he had a he was maybe a dermatologist or something. Anyway, long story short, this guy is going to be sitting on like 7580 million, right? And he said, you know, if I connect you with him, that would be a really good start for you. He said, you know what I was thinking of putting an investment group together myself with a couple of other doctors. Because here’s what’s interesting, Gabe, we think of doctors and lawyers, right. And those those high high earning positions, right. And we think, man, they must be styling and profiling, right? Well, guess what? They still have to go trade time for money to have those incomes. And when they look at what the stock market is done to COVID post COVID the next move, I mean, the roller coaster of the stock market will always be. And they don’t have the time. And he’s like, I would like to put maybe four or five of my doctor friends plus this other guy, you know, on a on a webinar call with you going forward. That’s exciting, man. That’s exciting. That’s exciting knowing I can help these guys and girls, first of all, right? be of service first. And the incomes follow period. And again, it doesn’t matter, man, whether it’s 50 bucks or 5 million, right? I know that I can. I can execute and perform based on past experience. That stuff excites me. It also scares me. It also scares you don’t want to fail. Failure is not an option. Not in my repertoire. When I hear no, I change it to a yes. Right. You put one foot in front of the other and you’re always moving forward. As soon as as soon as you lateral and start going backwards. Forget it. You’re out of the game. Yep. It’s always offense, brother. It’s okay to

Unknown Speaker 36:02
brief

Dave Seymour 36:04
pivot, and then move. It’s not okay to stay there in lateral going on. I don’t know, right? Because people, people daymond john said this to me. He said, the big boys are always watching. They’re always watching you. They’re always paying attention to what you’re doing. So if you’re giving off the right vibe, if you’re moving forward, taking the action to grow and develop your business, that is excited. That gets me calm.

Gabriel Petersen 36:31
I love it. I love it. So relationships moving forward taking action. I mean, that’s the same thing that does it for me. So you know, same boat. Awesome. Well, hey, Dave, I really appreciate having you on the show today. I know I can speak for everybody listening and watching that we appreciated the wisdom and the humor that you shared with us. Great story. So thank you. You know, we all need to receive things as well. So if you wanted to receive if you were to receive something from somebody watching or listening What would you want to receive? Be it?

Unknown Speaker 37:01
Yeah, no,

Dave Seymour 37:02
I should. Look, let’s let’s start a relationship. We don’t know what that looks like, right? I’m all about the law of reciprocity. So anybody who is listening and or watching can connect directly with us at freedom venture.com www freedom venture.com if you go to that website, you’ll you’ll see my ugly mugs on there somewhere. But on there, you’ll see who we are. And if, if there’s an interest in what we do, let’s open up some dialogue. It’s not for everybody, Brother, you know what I mean? It really isn’t. And that’s okay, too. You know, we’re very particular in who we invite into our funds. We turn away capital, you know, just because somebody has capital, it doesn’t mean that they’re a good fit for our fun. I always know that the capital is moving. So if you want to have fun and put funding funding, then Come along with us if you want pretentious, and if you want stiff and white collar, no offense that a white collar world, it’s just not me I’m not going to be something we’re not. So if you want to have some fun and be a part of something this powerful moving in the right direction, then reach out to us at freedom venture.com and we’ll we’ll have a conversation. Perfect and that’s actually the last question. Best way to reach you. Is it freedom? Freedom, venture calm? Freedom? venture.com Yeah.

Gabriel Petersen 38:27
Okay, there you go. So ladies and gentlemen, you heard it from him himself. If you want to get in contact with Dave reach out freedom venture.com. So Dave, again, thank you for coming on for everybody listening, watching. Appreciate, appreciate having you here. Go ahead and give us a thumbs up subscribe. We love having you here. You guys are the audience. So we couldn’t do this without you again, so we’ll see you guys on the next episode.

Thank you for joining us on The Real Estate Investing club. Feel we’ve provided value, we would appreciate it if you hit that thumbs up, share with your friends online, whatever it may be. If you’d like to share or partner with us on an investment deal, we are always looking for quality projects, go to http://www.hp real estate investing club comm get contact with one of our partners. Otherwise, I hope you guys have an absolutely fantastic day and I look forward to seeing you on the next episode.

Transcribed by https://otter.ai

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ABOUT THE REAL ESTATE INVESTING CLUB SHOW

The Real Estate Investing Club is a podcast and YouTube show where real estate investing professionals share their best advice, greatest stories, and favorite tips in real estate. Join us as we delve into every aspect of real estate investing – from self-storage, to mobile home parks, to single family rentals, to real estate syndication!

If you’re a real estate investor and are looking for tips and motivation to grow your business, this is the show for you. This is an interview-based real estate show where I’ll be hearing from investing pros from every asset class, niche and geographic area in the US.

Join us as we learn about these REI pro’s career peaks and valleys and the lessons they learned along the way!

Topics you’ll learn more about throughout our episodes:

– Using the BRRR strategy to buy income properties

– Flipping houses the right way, building quality housing and taking home a large payday

– Using hard money and bridge loans for real estate investments

– How to bounce back from bankruptcy and build a thriving empire in the wake of failure

– How to use property management companies to help scale your real estate business

– The best online and offline tools out there to take your real estate investing business to the next level

– How to do out of state investing without risking your shirt in the process

– Going from broke to 300+ deals in a month (really!)

– Investing in commercial real estate

– Stories about brand-new investors and the lesson’s they’re learning as they take on their very first flips and rentals

– How to use Google Ads and Facebook Ads to crush it in off market real estate marketing

– How to fill your pipeline with off market deals using direct mail, voiceless mail drops, and text blasting

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