{"version":"1.0.0","segments":[{"startTime":0.0,"endTime":3.2,"body":"When 2008 crashed,"},{"startTime":0.0,"endTime":3.2,"body":"when Lehman Brothers"},{"startTime":3.2,"endTime":6.48,"body":"crashed and Bear Stearns"},{"startTime":3.2,"endTime":6.48,"body":"crashed in 2008,"},{"startTime":6.88,"endTime":9.96,"body":"the Fed acted quickly"},{"startTime":6.88,"endTime":9.96,"body":"and they lowered rates,"},{"startTime":9.96,"endTime":12.68,"body":"interest rates,"},{"startTime":9.96,"endTime":12.68,"body":"which allowed you to maneuver."},{"startTime":13.08,"endTime":16.76,"body":"And I think today, by comparison,"},{"startTime":13.08,"endTime":16.76,"body":"they're not doing that."},{"startTime":16.76,"endTime":19.12,"body":"The Fed is trying to keep rates high"},{"startTime":19.24,"endTime":21.44,"body":"to fight inflation."},{"startTime":21.72,"endTime":23.68,"body":"I think a lot of real estate investors"},{"startTime":23.68,"endTime":26.16,"body":"are probably experiencing challenges"},{"startTime":26.44,"endTime":30.48,"body":"because, you know,"},{"startTime":26.44,"endTime":30.48,"body":"you were we're all used to 3%"},{"startTime":30.72,"endTime":34.12,"body":"financing and now it's..."},{"startTime":30.72,"endTime":34.12,"body":"I don't even know where it is."},{"startTime":88.04,"endTime":90.2,"body":"Welcome to the Real Estate Life show."},{"startTime":90.36,"endTime":91.32,"body":"Thank you, Vinki."},{"startTime":91.32,"endTime":93.88,"body":"I'm excited to be on your show. Me too."},{"startTime":93.88,"endTime":95.4,"body":"I can't wait."},{"startTime":95.4,"endTime":97.24,"body":"Okay, here's a little bit about Mark."},{"startTime":97.24,"endTime":100.48,"body":"He's an entrepreneur, investor"},{"startTime":97.24,"endTime":100.48,"body":"and a founder of Quantum"},{"startTime":100.48,"endTime":103.12,"body":"Capital, a multifamily syndication firm."},{"startTime":103.48,"endTime":104.56,"body":"He is also an Emmy, Emmy"},{"startTime":103.48,"endTime":104.56,"body":"nominated writer, producer,"},{"startTime":104.56,"endTime":107.16,"body":"He is also an Emmy, Emmy"},{"startTime":104.56,"endTime":107.16,"body":"nominated writer, producer,"},{"startTime":107.16,"endTime":110.52,"body":"voice actor"},{"startTime":107.16,"endTime":110.52,"body":"and original writer and Family Guy."},{"startTime":111.08,"endTime":111.56,"body":"Oh, my God."},{"startTime":111.56,"endTime":113.64,"body":"I need to talk about that."},{"startTime":111.56,"endTime":113.64,"body":"That's super awesome."},{"startTime":114.04,"endTime":118.2,"body":"Today, we'll be discussing today's market"},{"startTime":114.04,"endTime":118.2,"body":"trends versus 2008."},{"startTime":118.56,"endTime":122.92,"body":"So, Mark, before we start digging"},{"startTime":118.56,"endTime":122.92,"body":"into the current market trends,"},{"startTime":123.2,"endTime":124.56,"body":"can you tell us a little bit"},{"startTime":124.56,"endTime":128.28,"body":"about yourself, who you are"},{"startTime":124.56,"endTime":128.28,"body":"and how did you become who you are today?"},{"startTime":129.04,"endTime":129.6,"body":"Sure."},{"startTime":130.68,"endTime":133.28,"body":"I grew up in Ohio"},{"startTime":133.28,"endTime":136.8,"body":"and I"},{"startTime":133.28,"endTime":136.8,"body":"was kind of a head in the clouds, kid."},{"startTime":137.04,"endTime":140.28,"body":"I in high school, I always like to draw"},{"startTime":141.84,"endTime":144.84,"body":"and I got hired in high school"},{"startTime":144.84,"endTime":149.16,"body":"to be a caricature artist"},{"startTime":144.84,"endTime":149.16,"body":"at SeaWorld in Ohio."},{"startTime":149.16,"endTime":151.24,"body":"Believe it or not,"},{"startTime":149.16,"endTime":151.24,"body":"there's a SeaWorld in Ohio."},{"startTime":151.48,"endTime":153.6,"body":"There are. There was."},{"startTime":154.16,"endTime":158.16,"body":"I got struck by lightning"},{"startTime":154.16,"endTime":158.16,"body":"while I was drawing caricatures there."},{"startTime":158.76,"endTime":162.96,"body":"But after college, I wasn't really sure"},{"startTime":158.76,"endTime":162.96,"body":"what I was going to do."},{"startTime":163.92,"endTime":164.56,"body":"But I."},{"startTime":164.56,"endTime":169.0,"body":"I drew a lot of cartoons"},{"startTime":164.56,"endTime":169.0,"body":"and and did some writing."},{"startTime":169.0,"endTime":171.08,"body":"And I got hired in."},{"startTime":171.52,"endTime":174.48,"body":"I got hired by American Greetings,"},{"startTime":171.52,"endTime":174.48,"body":"if you're familiar with that"},{"startTime":174.48,"endTime":176.2,"body":"greeting card company."},{"startTime":176.2,"endTime":180.28,"body":"And I was in a new department"},{"startTime":176.2,"endTime":180.28,"body":"called the Alternative Humor Department."},{"startTime":180.6,"endTime":183.32,"body":"That was kind of"},{"startTime":180.6,"endTime":183.32,"body":"an experimental department."},{"startTime":183.36,"endTime":186.6,"body":"It was during the nineties,"},{"startTime":183.36,"endTime":186.6,"body":"and if you remember the nineties,"},{"startTime":186.6,"endTime":190.44,"body":"everything was like hip in"},{"startTime":186.6,"endTime":190.44,"body":"in counterculture."},{"startTime":190.6,"endTime":195.72,"body":"And so they were American Greetings was"},{"startTime":190.6,"endTime":195.72,"body":"trying to capture that that Gen-X market."},{"startTime":196.88,"endTime":199.96,"body":"And so"},{"startTime":196.88,"endTime":199.96,"body":"we could kind of do whatever we wanted."},{"startTime":199.96,"endTime":203.36,"body":"So we just tried to make ourselves laugh"},{"startTime":199.96,"endTime":203.36,"body":"with all these weird cards."},{"startTime":203.76,"endTime":208.28,"body":"And the reality is"},{"startTime":203.76,"endTime":208.28,"body":"nobody bought our cards."},{"startTime":209.16,"endTime":212.16,"body":"We were like a bunch of 20, 20 somethings"},{"startTime":212.68,"endTime":216.0,"body":"and drawing,"},{"startTime":212.68,"endTime":216.0,"body":"making these weird cards surreal."},{"startTime":216.48,"endTime":220.8,"body":"But the average greeting card"},{"startTime":216.48,"endTime":220.8,"body":"buyer was what I learned"},{"startTime":220.8,"endTime":224.84,"body":"while I was there is like maybe a 64 year"},{"startTime":220.8,"endTime":224.84,"body":"old grandmother,"},{"startTime":225.0,"endTime":227.4,"body":"and none of them ever bought our cards."},{"startTime":229.08,"endTime":232.08,"body":"But those cards, those weird cards"},{"startTime":232.08,"endTime":235.88,"body":"that I made, got me hired"},{"startTime":232.08,"endTime":235.88,"body":"to write for David Letterman in New York."},{"startTime":236.28,"endTime":239.76,"body":"And so I went to New York City"},{"startTime":236.28,"endTime":239.76,"body":"to write on the late Show."},{"startTime":240.6,"endTime":244.08,"body":"And then I moved out to L.A."},{"startTime":244.52,"endTime":247.6,"body":"because I realized most of the"},{"startTime":244.52,"endTime":247.6,"body":"entertainment business was out there."},{"startTime":248.04,"endTime":250.68,"body":"And I got to L.A. and"},{"startTime":251.88,"endTime":254.28,"body":"I got"},{"startTime":254.28,"endTime":255.84,"body":"I got a meeting."},{"startTime":255.84,"endTime":261.48,"body":"I had arrived in L.A., and my agent"},{"startTime":255.84,"endTime":261.48,"body":"who was there, my new agent, said, Oh,"},{"startTime":261.84,"endTime":265.68,"body":"I'm the one who told you to come out here,"},{"startTime":261.84,"endTime":265.68,"body":"but you just missed the staffing season."},{"startTime":265.92,"endTime":266.84,"body":"There's no jobs."},{"startTime":266.84,"endTime":269.32,"body":"Everything's all the shows are filled up."},{"startTime":269.32,"endTime":271.56,"body":"And so I was like,"},{"startTime":269.32,"endTime":271.56,"body":"Oh, well, that's great timing."},{"startTime":271.6,"endTime":272.44,"body":"I'm broke."},{"startTime":272.44,"endTime":275.36,"body":"And I just"},{"startTime":272.44,"endTime":275.36,"body":"I just moved across the country."},{"startTime":275.88,"endTime":278.76,"body":"But she goes, Oh, but you drew all the"},{"startTime":275.88,"endTime":278.76,"body":"you have all these drawings"},{"startTime":278.76,"endTime":281.04,"body":"and these cartoons,"},{"startTime":278.76,"endTime":281.04,"body":"So I'm going to call you an animator"},{"startTime":281.4,"endTime":283.32,"body":"and I'll get you a couple of meetings."},{"startTime":283.32,"endTime":285.0,"body":"I'll see if I can get you some meetings"},{"startTime":285.0,"endTime":288.36,"body":"with you know,"},{"startTime":285.0,"endTime":288.36,"body":"now that everything is is in production."},{"startTime":288.8,"endTime":292.0,"body":"And so I got a meeting at Fox"},{"startTime":292.56,"endTime":295.8,"body":"because they were doing The Simpsons,"},{"startTime":292.56,"endTime":295.8,"body":"and I had a good meeting"},{"startTime":295.8,"endTime":299.16,"body":"with these executives,"},{"startTime":295.8,"endTime":299.16,"body":"and they said, you know, they said,"},{"startTime":299.28,"endTime":303.04,"body":"we like your material,"},{"startTime":299.28,"endTime":303.04,"body":"but there's no we have no shows."},{"startTime":303.52,"endTime":304.52,"body":"But why don't you go?"},{"startTime":304.52,"endTime":308.08,"body":"You should go meet this young guy"},{"startTime":304.52,"endTime":308.08,"body":"who's just starting a new show."},{"startTime":308.52,"endTime":312.52,"body":"And I'm like, sure, whatever,"},{"startTime":308.52,"endTime":312.52,"body":"I, I got plenty of free time on my hands."},{"startTime":312.52,"endTime":317.24,"body":"So I met with Seth Macfarlane"},{"startTime":312.52,"endTime":317.24,"body":"when he was like 20 years old."},{"startTime":317.28,"endTime":318.92,"body":"He'd just graduated from"},{"startTime":320.0,"endTime":322.16,"body":"Rhode Island School of Design,"},{"startTime":322.16,"endTime":327.28,"body":"and he showed me his like short,"},{"startTime":322.16,"endTime":327.28,"body":"his animated short for Family Guy."},{"startTime":327.72,"endTime":330.76,"body":"And and he said,"},{"startTime":327.72,"endTime":330.76,"body":"You should come write on this show."},{"startTime":330.76,"endTime":333.52,"body":"And I was like, okay, I could"},{"startTime":330.76,"endTime":333.52,"body":"I could use a job."},{"startTime":334.56,"endTime":339.72,"body":"And I took home"},{"startTime":334.56,"endTime":339.72,"body":"this little short of that of that."},{"startTime":339.72,"endTime":342.64,"body":"And I watched it that night"},{"startTime":339.72,"endTime":342.64,"body":"and I was like,"},{"startTime":343.2,"endTime":345.6,"body":"I don't think this show is going anywhere."},{"startTime":345.6,"endTime":350.08,"body":"And so I got hired"},{"startTime":345.6,"endTime":350.08,"body":"and I used my first script payments."},{"startTime":350.08,"endTime":353.96,"body":"I'm like, I'm in this giant city,"},{"startTime":350.08,"endTime":353.96,"body":"Los Angeles, that I'm not"},{"startTime":355.12,"endTime":355.84,"body":"familiar with."},{"startTime":355.84,"endTime":359.48,"body":"And so I used my first script"},{"startTime":355.84,"endTime":359.48,"body":"payments on Family Guy to buy a duplex."},{"startTime":359.92,"endTime":362.56,"body":"And because I needed a way"},{"startTime":362.56,"endTime":364.92,"body":"to survive in this this new business."},{"startTime":365.64,"endTime":367.12,"body":"So that kind of kicked it off."},{"startTime":367.12,"endTime":370.92,"body":"I've been working on Family"},{"startTime":367.12,"endTime":370.92,"body":"Guy more or less ever since."},{"startTime":371.28,"endTime":375.08,"body":"I've created a couple of shows,"},{"startTime":371.28,"endTime":375.08,"body":"written a couple of movies,"},{"startTime":376.8,"endTime":378.84,"body":"and but mostly been on on Family Guy,"},{"startTime":378.84,"endTime":382.92,"body":"where I've been an executive producer"},{"startTime":378.84,"endTime":382.92,"body":"and voice actor."},{"startTime":382.92,"endTime":388.56,"body":"Sometimes they they have me do"},{"startTime":382.92,"endTime":388.56,"body":"quite a bit of brain damaged characters."},{"startTime":388.68,"endTime":391.24,"body":"And I'm not I'm"},{"startTime":388.68,"endTime":391.24,"body":"not sure why I get picked for those"},{"startTime":392.4,"endTime":395.36,"body":"but but yeah that's it And I, you know,"},{"startTime":395.52,"endTime":398.16,"body":"I went all in on real estate"},{"startTime":398.36,"endTime":400.48,"body":"back, back from the beginning."},{"startTime":401.16,"endTime":405.56,"body":"I loved it and I did really well,"},{"startTime":401.16,"endTime":405.56,"body":"like in the late nineties"},{"startTime":405.56,"endTime":408.36,"body":"when I, when I just moved out there and,"},{"startTime":408.56,"endTime":411.76,"body":"you know, just currently have a company"},{"startTime":408.56,"endTime":411.76,"body":"called Quantum Capital."},{"startTime":412.24,"endTime":414.76,"body":"We've we've been going"},{"startTime":415.12,"endTime":418.92,"body":"for a decade at this point and it's great."},{"startTime":418.92,"endTime":419.84,"body":"It's it's fine."},{"startTime":419.84,"endTime":422.56,"body":"I try to balance both of my worlds, my,"},{"startTime":423.12,"endTime":426.28,"body":"my writing and and also the real estate."},{"startTime":426.28,"endTime":428.24,"body":"I kind of feel like my real estate's"},{"startTime":426.28,"endTime":428.24,"body":"going to be"},{"startTime":428.24,"endTime":432.12,"body":"what I'm going to be,"},{"startTime":428.24,"endTime":432.12,"body":"you know, still be doing when I'm 90."},{"startTime":432.56,"endTime":432.92,"body":"Yeah, I."},{"startTime":432.92,"endTime":434.4,"body":"When you retire, Right."},{"startTime":434.4,"endTime":436.64,"body":"Fine. Yeah, right, right."},{"startTime":437.16,"endTime":438.24,"body":"But let me ask you this question."},{"startTime":438.24,"endTime":439.12,"body":"So when I"},{"startTime":438.24,"endTime":439.12,"body":"when was the turning point for you"},{"startTime":439.12,"endTime":441.16,"body":"So when I"},{"startTime":439.12,"endTime":441.16,"body":"when was the turning point for you"},{"startTime":441.76,"endTime":445.52,"body":"that you feel like,"},{"startTime":441.76,"endTime":445.52,"body":"oh, I need to do real estate"},{"startTime":445.52,"endTime":447.72,"body":"because you were like,"},{"startTime":445.52,"endTime":447.72,"body":"big time in real estate?"},{"startTime":448.2,"endTime":450.68,"body":"Yeah. From the first duplex."},{"startTime":450.68,"endTime":452.36,"body":"Did you buy or you did"},{"startTime":450.68,"endTime":452.36,"body":"you have enough knowledge"},{"startTime":452.36,"endTime":452.8,"body":"Did you buy or you did"},{"startTime":452.36,"endTime":452.8,"body":"you have enough knowledge"},{"startTime":452.92,"endTime":456.72,"body":"to start in real estate"},{"startTime":452.92,"endTime":456.72,"body":"or how did that whole thing started?"},{"startTime":456.76,"endTime":458.2,"body":"That's what I wanted to know."},{"startTime":458.2,"endTime":463.04,"body":"Yeah, I,"},{"startTime":458.2,"endTime":463.04,"body":"I was looking for some way to survive"},{"startTime":463.04,"endTime":466.08,"body":"because I didn't really trust"},{"startTime":463.04,"endTime":466.08,"body":"the entertainment business."},{"startTime":466.4,"endTime":470.36,"body":"I didn't think"},{"startTime":466.4,"endTime":470.36,"body":"I'd be steadily employed. So."},{"startTime":472.44,"endTime":474.84,"body":"So I remember meeting"},{"startTime":474.84,"endTime":478.8,"body":"a woman named June on"},{"startTime":474.84,"endTime":478.8,"body":"this is back in like 98,"},{"startTime":479.2,"endTime":481.32,"body":"1998. And,"},{"startTime":482.36,"endTime":485.08,"body":"and she said, you know, she asked me if,"},{"startTime":485.32,"endTime":488.96,"body":"like I was renting an apartment,"},{"startTime":485.32,"endTime":488.96,"body":"a one bedroom apartment at the time,"},{"startTime":488.96,"endTime":491.4,"body":"and she was like,"},{"startTime":488.96,"endTime":491.4,"body":"you're in the entertainment business."},{"startTime":491.4,"endTime":493.36,"body":"You're making some good money now."},{"startTime":493.36,"endTime":494.68,"body":"You should put it towards a mortgage."},{"startTime":494.68,"endTime":498.32,"body":"And I remember telling her like,"},{"startTime":494.68,"endTime":498.32,"body":"there's no way I want the"},{"startTime":498.44,"endTime":502.4,"body":"the burden and the responsibility of"},{"startTime":498.44,"endTime":502.4,"body":"a mortgage because I could be unemployed"},{"startTime":503.04,"endTime":504.32,"body":"in the next couple weeks."},{"startTime":504.32,"endTime":508.88,"body":"And she goes, No, but it's still you know,"},{"startTime":504.32,"endTime":508.88,"body":"you're in a good market and,"},{"startTime":508.96,"endTime":510.6,"body":"you know, prices go up."},{"startTime":510.6,"endTime":512.08,"body":"It's a good investment."},{"startTime":512.08,"endTime":515.48,"body":"And I told her,"},{"startTime":512.08,"endTime":515.48,"body":"I said, if you could find me something"},{"startTime":515.92,"endTime":521.52,"body":"that will give me stability so that"},{"startTime":515.92,"endTime":521.52,"body":"I could sleep better at night, I'll do it."},{"startTime":521.92,"endTime":524.24,"body":"And so she kind of mentored me"},{"startTime":524.56,"endTime":526.88,"body":"and she coached me with this first deal."},{"startTime":527.32,"endTime":531.36,"body":"And it was a it was a listed it 400."},{"startTime":531.36,"endTime":538.12,"body":"And no,"},{"startTime":531.36,"endTime":538.12,"body":"it was listed at $365,000 back in 1998."},{"startTime":538.64,"endTime":542.92,"body":"And I won a bidding war"},{"startTime":538.64,"endTime":542.92,"body":"with like 15 buyers"},{"startTime":543.2,"endTime":546.88,"body":"and I paid $435,000."},{"startTime":546.88,"endTime":552.32,"body":"So about 70,000, $65,000 over asking."},{"startTime":552.64,"endTime":554.52,"body":"And I thought I made a huge mistake."},{"startTime":555.56,"endTime":558.72,"body":"I thought I just"},{"startTime":555.56,"endTime":558.72,"body":"screwed up and I was going to go bankrupt."},{"startTime":558.72,"endTime":560.84,"body":"But I stuck with it."},{"startTime":561.12,"endTime":563.56,"body":"I tried to operate,"},{"startTime":561.12,"endTime":563.56,"body":"learn how to operate it."},{"startTime":563.8,"endTime":569.12,"body":"And and five years later, you know, just"},{"startTime":563.8,"endTime":569.12,"body":"to get at the five years later,"},{"startTime":569.6,"endTime":573.52,"body":"I sold it for $1.27 million."},{"startTime":573.96,"endTime":578.48,"body":"And I and I thought like, oh,"},{"startTime":573.96,"endTime":578.48,"body":"I have to do this all the time."},{"startTime":578.48,"endTime":582.92,"body":"This is all of"},{"startTime":578.48,"endTime":582.92,"body":"my money is is going into real estate."},{"startTime":582.92,"endTime":588.2,"body":"And it kind of created a virtuous cycle"},{"startTime":582.92,"endTime":588.2,"body":"because from that moment forward,"},{"startTime":588.2,"endTime":592.64,"body":"I never cared about a car like,"},{"startTime":588.2,"endTime":592.64,"body":"I don't need a nice car."},{"startTime":593.32,"endTime":595.96,"body":"I wanted to put all my money"},{"startTime":593.32,"endTime":595.96,"body":"into real estate"},{"startTime":596.12,"endTime":597.8,"body":"and learn everything I could about it."},{"startTime":597.8,"endTime":601.48,"body":"And more or less, I did that. Hmm."},{"startTime":601.84,"endTime":605.72,"body":"So what are the current market"},{"startTime":601.84,"endTime":605.72,"body":"trends for real estate investing now?"},{"startTime":606.2,"endTime":608.28,"body":"I mean,"},{"startTime":606.2,"endTime":608.28,"body":"it has been the wild over the years."},{"startTime":608.28,"endTime":611.72,"body":"It's not there's no comparison"},{"startTime":608.28,"endTime":611.72,"body":"between nineties and now."},{"startTime":612.24,"endTime":614.4,"body":"So if you talk about that."},{"startTime":614.4,"endTime":616.28,"body":"Right, right."},{"startTime":616.28,"endTime":616.52,"body":"Yeah."},{"startTime":616.52,"endTime":620.32,"body":"Well, we went through a lot"},{"startTime":616.52,"endTime":620.32,"body":"during that time and you know, every time"},{"startTime":620.32,"endTime":624.52,"body":"there's some drama in the economy"},{"startTime":620.32,"endTime":624.52,"body":"it's it's a nice it's a normal"},{"startTime":624.56,"endTime":629.28,"body":"it's another notch in your belt"},{"startTime":624.56,"endTime":629.28,"body":"like I remember we went through my first"},{"startTime":630.64,"endTime":633.8,"body":"adverse situation was"},{"startTime":634.12,"endTime":640.44,"body":"the dot com bust of like 2000 and,"},{"startTime":634.12,"endTime":640.44,"body":"and then there was 911"},{"startTime":640.84,"endTime":645.56,"body":"and then there was the Iraq war,"},{"startTime":640.84,"endTime":645.56,"body":"and then that was 2008."},{"startTime":645.56,"endTime":648.76,"body":"And then we went through"},{"startTime":645.56,"endTime":648.76,"body":"the Great Recession, learned a ton"},{"startTime":649.16,"endTime":652.8,"body":"there, saw what happened"},{"startTime":649.16,"endTime":652.8,"body":"and saw how things shift and change."},{"startTime":653.4,"endTime":658.64,"body":"And then, you know, came out of that"},{"startTime":653.4,"endTime":658.64,"body":"and through the teens and COVID."},{"startTime":658.64,"endTime":661.04,"body":"And, you know, there's a lot of different"},{"startTime":661.92,"endTime":663.92,"body":"there's a lot of different,"},{"startTime":664.28,"endTime":665.76,"body":"you know, different economies."},{"startTime":665.76,"endTime":668.24,"body":"And you think, you know what's coming."},{"startTime":668.76,"endTime":671.6,"body":"And sometimes"},{"startTime":668.76,"endTime":671.6,"body":"you've got a whole new situation."},{"startTime":671.6,"endTime":675.72,"body":"And I think today is is in a lot of ways"},{"startTime":677.2,"endTime":679.36,"body":"a new situation."},{"startTime":679.36,"endTime":682.28,"body":"If I were to if I were to compare today"},{"startTime":682.28,"endTime":686.48,"body":"with the Great Recession,"},{"startTime":682.28,"endTime":686.48,"body":"which was, you know, the big"},{"startTime":687.96,"endTime":690.44,"body":"always, it's always cited as, you know,"},{"startTime":690.44,"endTime":695.0,"body":"along with the Great Depression,"},{"startTime":690.44,"endTime":695.0,"body":"it's it's the big the big event"},{"startTime":695.36,"endTime":698.24,"body":"that was very adverse and difficult"},{"startTime":698.24,"endTime":700.96,"body":"for our whole country."},{"startTime":701.32,"endTime":704.6,"body":"But in a lot of ways, I think today with"},{"startTime":705.2,"endTime":708.44,"body":"with the high interest rates"},{"startTime":705.2,"endTime":708.44,"body":"and inflation,"},{"startTime":709.76,"endTime":712.64,"body":"I think for real estate investors"},{"startTime":709.76,"endTime":712.64,"body":"specifically"},{"startTime":713.6,"endTime":716.48,"body":"in a lot of ways it's harder than 2008."},{"startTime":716.48,"endTime":719.28,"body":"In 2008, the Fed lowered."},{"startTime":719.88,"endTime":722.16,"body":"There was some there was a lot of problems"},{"startTime":719.88,"endTime":722.16,"body":"with the economy."},{"startTime":722.16,"endTime":722.8,"body":"There was some there was a lot of problems"},{"startTime":722.16,"endTime":722.8,"body":"with the economy."},{"startTime":722.84,"endTime":727.4,"body":"But in to that when 2008 crashed,"},{"startTime":722.84,"endTime":727.4,"body":"when Lehman Brothers"},{"startTime":727.4,"endTime":730.68,"body":"crashed and Bear Stearns crashed in 2008,"},{"startTime":731.84,"endTime":734.12,"body":"the Fed acted quickly and they lowered"},{"startTime":735.32,"endTime":739.36,"body":"they lowered rates, interest rates,"},{"startTime":735.32,"endTime":739.36,"body":"which allowed you to maneuver."},{"startTime":739.76,"endTime":743.44,"body":"And I think today, by comparison,"},{"startTime":739.76,"endTime":743.44,"body":"they're not doing that."},{"startTime":743.44,"endTime":746.68,"body":"They're they're keeping"},{"startTime":743.44,"endTime":746.68,"body":"the Fed is trying to keep rates high"},{"startTime":747.6,"endTime":749.76,"body":"to to fight inflation."},{"startTime":750.16,"endTime":750.84,"body":"And I think"},{"startTime":751.84,"endTime":752.68,"body":"I think a lot of real"},{"startTime":752.68,"endTime":756.28,"body":"estate investors"},{"startTime":752.68,"endTime":756.28,"body":"are probably experiencing challenges"},{"startTime":756.56,"endTime":760.52,"body":"because, you know, you"},{"startTime":756.56,"endTime":760.52,"body":"you were we're all used to 3%"},{"startTime":761.6,"endTime":764.96,"body":"financing and now it's"},{"startTime":761.6,"endTime":764.96,"body":"I don't even know where it is."},{"startTime":764.96,"endTime":767.6,"body":"It's five and a half. Six and a half."},{"startTime":767.6,"endTime":771.64,"body":"I think even more"},{"startTime":767.6,"endTime":771.64,"body":"I've seen that even higher interest rate."},{"startTime":771.92,"endTime":772.56,"body":"But the thing is,"},{"startTime":772.56,"endTime":776.68,"body":"you know, interest rates being so high and"},{"startTime":772.56,"endTime":776.68,"body":"then we have kind of similar situations"},{"startTime":776.68,"endTime":780.12,"body":"like the Lehman Brothers,"},{"startTime":776.68,"endTime":780.12,"body":"you know, in 2008, like the Silicon Valley"},{"startTime":780.12,"endTime":784.16,"body":"Bank and the other banks,"},{"startTime":780.12,"endTime":784.16,"body":"you know, going belly up."},{"startTime":784.16,"endTime":786.48,"body":"So what is your perspective on that?"},{"startTime":786.52,"endTime":791.08,"body":"How do you see the market now"},{"startTime":786.52,"endTime":791.08,"body":"compared to that?"},{"startTime":791.12,"endTime":793.88,"body":"A similar scenario"},{"startTime":791.12,"endTime":793.88,"body":"but not similar at the same time?"},{"startTime":794.6,"endTime":798.76,"body":"Yeah, it's it's it's reminiscent of 2008"},{"startTime":798.76,"endTime":803.76,"body":"that that we're seeing the collapse"},{"startTime":798.76,"endTime":803.76,"body":"of these giant institutions"},{"startTime":804.04,"endTime":806.92,"body":"that you thought would never go down."},{"startTime":808.4,"endTime":808.88,"body":"But it's"},{"startTime":808.88,"endTime":812.76,"body":"it's a symptom of what we're all dealing"},{"startTime":808.88,"endTime":812.76,"body":"with."},{"startTime":812.76,"endTime":817.52,"body":"It's it's it's the high interest rates"},{"startTime":812.76,"endTime":817.52,"body":"and I get it the Fed is"},{"startTime":817.88,"endTime":821.24,"body":"the Fed wants to fight inflation"},{"startTime":817.88,"endTime":821.24,"body":"because high inflation"},{"startTime":821.24,"endTime":824.12,"body":"does a lot of damage"},{"startTime":821.24,"endTime":824.12,"body":"to the overall economy."},{"startTime":824.44,"endTime":830.24,"body":"But but fighting that inflation"},{"startTime":824.44,"endTime":830.24,"body":"by by boosting interest rates up to,"},{"startTime":830.72,"endTime":835.52,"body":"you know, 7%, you've got a lot"},{"startTime":830.72,"endTime":835.52,"body":"of a lot of real estate owners"},{"startTime":835.52,"endTime":837.92,"body":"that are upside down"},{"startTime":838.56,"endTime":841.72,"body":"that they"},{"startTime":838.56,"endTime":841.72,"body":"they don't the income that they have"},{"startTime":842.12,"endTime":844.52,"body":"from their properties"},{"startTime":842.12,"endTime":844.52,"body":"does not cover the mortgage"},{"startTime":845.96,"endTime":848.28,"body":"with those kind of rates"},{"startTime":848.28,"endTime":852.0,"body":"now. But what's going to happen, you know,"},{"startTime":848.28,"endTime":852.0,"body":"if you have a crystal ball to see,"},{"startTime":852.52,"endTime":856.6,"body":"not this year,"},{"startTime":852.52,"endTime":856.6,"body":"maybe next year in 2024 or 2025"},{"startTime":857.0,"endTime":861.16,"body":"and all the bridge is going to come"},{"startTime":857.0,"endTime":861.16,"body":"towards the end, right."},{"startTime":861.16,"endTime":864.08,"body":"For the tail of a lot of people this year"},{"startTime":861.16,"endTime":864.08,"body":"to maybe towards the end of the year."},{"startTime":864.4,"endTime":867.92,"body":"So what is it going to look like"},{"startTime":864.4,"endTime":867.92,"body":"at that point for some other operators?"},{"startTime":868.28,"endTime":870.0,"body":"Yeah,"},{"startTime":868.28,"endTime":870.0,"body":"there's going to be a lot of opportunity"},{"startTime":870.0,"endTime":870.56,"body":"for people"},{"startTime":870.56,"endTime":873.16,"body":"to get into these kind of deals,"},{"startTime":870.56,"endTime":873.16,"body":"but at the same time"},{"startTime":873.48,"endTime":875.52,"body":"people are going to be losing their shirts"},{"startTime":873.48,"endTime":875.52,"body":"as well."},{"startTime":875.72,"endTime":876.96,"body":"Yeah, Yeah."},{"startTime":876.96,"endTime":881.92,"body":"I think I think like obviously you're"},{"startTime":876.96,"endTime":881.92,"body":"in the same world that I'm in"},{"startTime":881.92,"endTime":884.0,"body":"and there's a lot of operators that"},{"startTime":884.76,"endTime":887.56,"body":"there's a lot of syndicators"},{"startTime":884.76,"endTime":887.56,"body":"and a lot of new syndicators."},{"startTime":887.84,"endTime":889.52,"body":"It's probably grown."},{"startTime":889.52,"endTime":894.84,"body":"The syndication world has expanded dramatically over the last six years or so."},{"startTime":896.44,"endTime":897.88,"body":"And I think"},{"startTime":898.44,"endTime":901.12,"body":"and kind of the ironic or sort of maybe"},{"startTime":901.64,"endTime":904.64,"body":"cruelly funny or darkly funny is,"},{"startTime":906.04,"endTime":909.32,"body":"is it's such a social media driven world."},{"startTime":909.32,"endTime":913.0,"body":"And I think now for the last ten years,"},{"startTime":909.32,"endTime":913.0,"body":"like syndicators"},{"startTime":913.0,"endTime":917.16,"body":"just go out and tout their their triumphs"},{"startTime":913.0,"endTime":917.16,"body":"and their success"},{"startTime":917.16,"endTime":920.76,"body":"and how how great they're doing,"},{"startTime":917.16,"endTime":920.76,"body":"because they're they're all raising money."},{"startTime":921.16,"endTime":925.04,"body":"But I think there's probably"},{"startTime":921.16,"endTime":925.04,"body":"a lot of silent screams right now"},{"startTime":925.44,"endTime":929.72,"body":"amongst operators"},{"startTime":925.44,"endTime":929.72,"body":"because a lot of them are stuck and and,"},{"startTime":930.2,"endTime":933.88,"body":"you know, whether it's their I don't know"},{"startTime":930.2,"endTime":933.88,"body":"that it's necessarily their fault."},{"startTime":933.88,"endTime":935.68,"body":"It's just their"},{"startTime":936.56,"endTime":938.36,"body":"you know, they got caught they got caught"},{"startTime":938.36,"endTime":941.64,"body":"in this situation,"},{"startTime":938.36,"endTime":941.64,"body":"the economic situation we're in right now."},{"startTime":942.04,"endTime":944.6,"body":"And, yeah, I feel I feel for them."},{"startTime":946.04,"endTime":948.0,"body":"It's a good it's a hard lesson"},{"startTime":948.0,"endTime":953.28,"body":"that you got to be conservative"},{"startTime":948.0,"endTime":953.28,"body":"with your leverage and and be careful."},{"startTime":954.28,"endTime":954.68,"body":"That's true."},{"startTime":954.68,"endTime":958.88,"body":"And plus, COVID 19 pandemic has played"},{"startTime":954.68,"endTime":958.88,"body":"a big role as well."},{"startTime":958.92,"endTime":959.52,"body":"Right."},{"startTime":959.6,"endTime":963.12,"body":"What shifts have you seen in your area"},{"startTime":963.12,"endTime":965.72,"body":"where you are investing in your markets?"},{"startTime":966.44,"endTime":967.84,"body":"Oh. Okay."},{"startTime":967.84,"endTime":968.96,"body":"You may be familiar."},{"startTime":968.96,"endTime":970.96,"body":"You're in the same state as I am."},{"startTime":972.12,"endTime":974.48,"body":"Yeah, the COVID,"},{"startTime":974.48,"endTime":977.28,"body":"the COVID, they they they have eviction"},{"startTime":977.28,"endTime":979.84,"body":"moratoriums, rent freezes,"},{"startTime":980.96,"endTime":982.12,"body":"all these"},{"startTime":982.8,"endTime":985.0,"body":"all these new regulations got"},{"startTime":985.0,"endTime":988.28,"body":"put on to landlords and property owners."},{"startTime":988.76,"endTime":991.28,"body":"And, you know, we've"},{"startTime":992.52,"endTime":995.2,"body":"I don't know if I think some I'm"},{"startTime":995.2,"endTime":998.12,"body":"sure some operators"},{"startTime":995.2,"endTime":998.12,"body":"are the fact that they can't"},{"startTime":998.72,"endTime":1002.08,"body":"they can't raise rents"},{"startTime":998.72,"endTime":1002.08,"body":"and now it's going on, you know,"},{"startTime":1002.44,"endTime":1005.32,"body":"two and a half years now"},{"startTime":1005.32,"endTime":1008.36,"body":"I think that's impacting"},{"startTime":1005.32,"endTime":1008.36,"body":"obviously having an effect effect"},{"startTime":1008.36,"endTime":1011.4,"body":"and more and more owners"},{"startTime":1008.36,"endTime":1011.4,"body":"have to go out of pocket."},{"startTime":1011.88,"endTime":1014.52,"body":"So to keep paying the bills."},{"startTime":1015.28,"endTime":1017.12,"body":"Mm hmm. Interesting."},{"startTime":1017.12,"endTime":1020.2,"body":"And then earlier, you were talking about,"},{"startTime":1017.12,"endTime":1020.2,"body":"you know, how operators,"},{"startTime":1020.2,"endTime":1023.92,"body":"social media is very powerful"},{"startTime":1020.2,"endTime":1023.92,"body":"and how all these operators,"},{"startTime":1023.92,"endTime":1027.44,"body":"they just use those social media portals"},{"startTime":1023.92,"endTime":1027.44,"body":"to advertise themselves"},{"startTime":1027.44,"endTime":1028.6,"body":"and put themselves out there."},{"startTime":1028.6,"endTime":1031.2,"body":"And we are"},{"startTime":1028.6,"endTime":1031.2,"body":"we are doing this great, this and that."},{"startTime":1031.56,"endTime":1035.92,"body":"Well, I'm going to talk about"},{"startTime":1031.56,"endTime":1035.92,"body":"a former investor perspective."},{"startTime":1036.48,"endTime":1041.28,"body":"How can technology be leveraged"},{"startTime":1036.48,"endTime":1041.28,"body":"to improve their investing decisions."},{"startTime":1043.64,"endTime":1046.32,"body":"And their investment decisions?"},{"startTime":1046.76,"endTime":1050.32,"body":"Yeah, especially in today's market,"},{"startTime":1046.76,"endTime":1050.32,"body":"because there's so much gimmick"},{"startTime":1050.76,"endTime":1053.44,"body":"and then so much information out"},{"startTime":1050.76,"endTime":1053.44,"body":"there, it's"},{"startTime":1053.44,"endTime":1056.92,"body":"very hard for an investor to select"},{"startTime":1058.12,"endTime":1061.08,"body":"the right operator or the right market"},{"startTime":1061.36,"endTime":1064.84,"body":"is like in too much information"},{"startTime":1061.36,"endTime":1064.84,"body":"download right there."},{"startTime":1065.28,"endTime":1066.2,"body":"Right."},{"startTime":1066.2,"endTime":1070.28,"body":"I think, you know,"},{"startTime":1066.2,"endTime":1070.28,"body":"knowing the operator helps"},{"startTime":1071.2,"endTime":1074.92,"body":"and looking if you're an investor"},{"startTime":1071.2,"endTime":1074.92,"body":"trying to find a good operator,"},{"startTime":1074.92,"endTime":1078.6,"body":"I would look at the the debt ratio."},{"startTime":1079.2,"endTime":1081.28,"body":"You know our this this"},{"startTime":1081.8,"endTime":1084.76,"body":"you know people like I mentioned earlier,"},{"startTime":1085.68,"endTime":1088.72,"body":"people may be learning a hard lesson"},{"startTime":1085.68,"endTime":1088.72,"body":"right now."},{"startTime":1088.92,"endTime":1092.44,"body":"But, you know, in the past,"},{"startTime":1088.92,"endTime":1092.44,"body":"you know, three or four years"},{"startTime":1092.96,"endTime":1095.56,"body":"when the markets boom and if,"},{"startTime":1095.76,"endTime":1099.96,"body":"you know, if you've seen multiple cycles,"},{"startTime":1095.76,"endTime":1099.96,"body":"yeah, everybody"},{"startTime":1099.96,"endTime":1104.48,"body":"everybody starts out"},{"startTime":1099.96,"endTime":1104.48,"body":"maybe relatively conservatively."},{"startTime":1104.48,"endTime":1109.56,"body":"You know, maybe the maybe you you"},{"startTime":1104.48,"endTime":1109.56,"body":"you get into the investing business,"},{"startTime":1109.56,"endTime":1114.32,"body":"the multifamily investing"},{"startTime":1109.56,"endTime":1114.32,"body":"or real estate investing, and you think"},{"startTime":1115.36,"endTime":1116.08,"body":"you think like"},{"startTime":1116.08,"endTime":1120.6,"body":"75% or 60% is a is a good rate."},{"startTime":1120.72,"endTime":1124.12,"body":"But then you get successful,"},{"startTime":1120.72,"endTime":1124.12,"body":"you have these super"},{"startTime":1125.4,"endTime":1128.32,"body":"successful year after year,"},{"startTime":1125.4,"endTime":1128.32,"body":"you get a little"},{"startTime":1128.4,"endTime":1131.28,"body":"you can get a little more aggressive"},{"startTime":1128.4,"endTime":1131.28,"body":"or be tempted to"},{"startTime":1131.56,"endTime":1134.64,"body":"and then pushing"},{"startTime":1131.56,"endTime":1134.64,"body":"they're pushing that debt further"},{"startTime":1135.12,"endTime":1138.4,"body":"and and then maybe"},{"startTime":1135.12,"endTime":1138.4,"body":"even getting into bridge territory."},{"startTime":1138.4,"endTime":1139.68,"body":"And I know"},{"startTime":1140.08,"endTime":1143.4,"body":"pre-COVID"},{"startTime":1140.08,"endTime":1143.4,"body":"and even during right after COVID,"},{"startTime":1143.4,"endTime":1148.8,"body":"there was a lot of operators using bridge"},{"startTime":1143.4,"endTime":1148.8,"body":"on, you know, almost every deal."},{"startTime":1148.8,"endTime":1152.8,"body":"And and you know,"},{"startTime":1148.8,"endTime":1152.8,"body":"when when the market's favorable,"},{"startTime":1153.24,"endTime":1155.76,"body":"it could work wonders for returns."},{"startTime":1155.76,"endTime":1160.4,"body":"But, you know, if the market turns, you"},{"startTime":1155.76,"endTime":1160.4,"body":"could be you could be in a bit of trouble."},{"startTime":1160.96,"endTime":1162.44,"body":"Yeah, it could be hard."},{"startTime":1162.44,"endTime":1166.24,"body":"And but I think a lot of people"},{"startTime":1162.44,"endTime":1166.24,"body":"are comparing to this market with 2008"},{"startTime":1166.24,"endTime":1171.12,"body":"like we're talking earlier, you know,"},{"startTime":1166.24,"endTime":1171.12,"body":"But I don't believe that is 100% true."},{"startTime":1171.12,"endTime":1172.6,"body":"I'm not sure what you're thinking"},{"startTime":1172.6,"endTime":1176.12,"body":"because we have love from every experience"},{"startTime":1172.6,"endTime":1176.12,"body":"we learn."},{"startTime":1176.44,"endTime":1178.84,"body":"That's the basic norm for human"},{"startTime":1176.44,"endTime":1178.84,"body":"beings, right?"},{"startTime":1178.84,"endTime":1180.32,"body":"Because we got in."},{"startTime":1180.32,"endTime":1181.04,"body":"We are smart."},{"startTime":1181.04,"endTime":1183.64,"body":"Every time we experience something,"},{"startTime":1181.04,"endTime":1183.64,"body":"we learn something from that."},{"startTime":1183.92,"endTime":1186.84,"body":"So I just feel like from the 2008 crisis,"},{"startTime":1187.08,"endTime":1190.48,"body":"we have learned some lessons"},{"startTime":1187.08,"endTime":1190.48,"body":"and I wanted to hear from you."},{"startTime":1190.48,"endTime":1196.4,"body":"I mean, you know, what is applicable"},{"startTime":1190.48,"endTime":1196.4,"body":"from those lessons in today's market? Yes,"},{"startTime":1197.44,"endTime":1199.0,"body":"I think"},{"startTime":1199.48,"endTime":1204.28,"body":"let's see, I think in 2008, one of the big"},{"startTime":1205.96,"endTime":1208.36,"body":"one of the big issues was"},{"startTime":1208.96,"endTime":1211.84,"body":"that they created these new loan products."},{"startTime":1212.04,"endTime":1215.08,"body":"And I think it goes back to that."},{"startTime":1215.32,"endTime":1220.44,"body":"There was a I think 2008"},{"startTime":1215.32,"endTime":1220.44,"body":"kind of kicked off with a couple things."},{"startTime":1220.44,"endTime":1224.88,"body":"It was they deregulated"},{"startTime":1220.44,"endTime":1224.88,"body":"and I think it was maybe"},{"startTime":1224.88,"endTime":1229.84,"body":"ten years prior to 228 actually happening."},{"startTime":1231.96,"endTime":1234.92,"body":"And they also allowed"},{"startTime":1234.92,"endTime":1237.52,"body":"American United States U.S."},{"startTime":1237.88,"endTime":1240.64,"body":"debt, real estate, mortgage"},{"startTime":1240.64,"endTime":1243.76,"body":"debt was really attractive"},{"startTime":1240.64,"endTime":1243.76,"body":"around the world."},{"startTime":1243.76,"endTime":1246.92,"body":"It was seen as very safe. So,"},{"startTime":1248.4,"endTime":1250.8,"body":"you know, banks kind of lost their way."},{"startTime":1251.2,"endTime":1254.2,"body":"And they were they were these these"},{"startTime":1254.68,"endTime":1257.44,"body":"these debt vehicles were so profitable."},{"startTime":1258.84,"endTime":1260.92,"body":"And a lot of the rest of the world"},{"startTime":1260.92,"endTime":1265.0,"body":"wanted them"},{"startTime":1260.92,"endTime":1265.0,"body":"that it was really profitable, profitable"},{"startTime":1265.0,"endTime":1268.48,"body":"for banks"},{"startTime":1265.0,"endTime":1268.48,"body":"just to make as many loans as they can."},{"startTime":1268.8,"endTime":1273.36,"body":"And you probably remember this,"},{"startTime":1268.8,"endTime":1273.36,"body":"but remember, like first burst, like"},{"startTime":1274.48,"endTime":1277.16,"body":"they opened up sub prime loans."},{"startTime":1277.16,"endTime":1279.92,"body":"That was not a thing prior to 2008."},{"startTime":1279.92,"endTime":1281.12,"body":"It didn't exist."},{"startTime":1281.12,"endTime":1283.96,"body":"There was always like 40% of the"},{"startTime":1284.44,"endTime":1287.2,"body":"of the market that just couldn't get"},{"startTime":1288.72,"endTime":1290.48,"body":"couldn't get loans, home loans."},{"startTime":1290.48,"endTime":1292.6,"body":"It seems maybe fascinating"},{"startTime":1292.6,"endTime":1296.64,"body":"now that that was the case,"},{"startTime":1292.6,"endTime":1296.64,"body":"but there was a time when most you know,"},{"startTime":1296.8,"endTime":1301.12,"body":"not quite most, but 40% of the of home"},{"startTime":1301.12,"endTime":1303.56,"body":"buyers could not get a loan."},{"startTime":1304.36,"endTime":1307.48,"body":"But then in order to sell these products"},{"startTime":1307.48,"endTime":1311.28,"body":"around the world,"},{"startTime":1307.48,"endTime":1311.28,"body":"they relaxed the standards."},{"startTime":1311.48,"endTime":1314.56,"body":"And then you probably remember vaguely"},{"startTime":1314.56,"endTime":1318.4,"body":"that they"},{"startTime":1314.56,"endTime":1318.4,"body":"they relaxed, they kept relaxing it."},{"startTime":1318.4,"endTime":1321.44,"body":"It became like, okay,"},{"startTime":1318.4,"endTime":1321.44,"body":"you don't really need to"},{"startTime":1321.44,"endTime":1324.12,"body":"show your your W-2s to us."},{"startTime":1325.24,"endTime":1328.52,"body":"And and you could do"},{"startTime":1325.24,"endTime":1328.52,"body":"you could just tell me you have a job."},{"startTime":1328.52,"endTime":1332.36,"body":"You don't have to show"},{"startTime":1328.52,"endTime":1332.36,"body":"have proof of of job or income."},{"startTime":1332.36,"endTime":1337.0,"body":"So there was like what were they"},{"startTime":1332.36,"endTime":1337.0,"body":"were called like nolo loans or something."},{"startTime":1337.0,"endTime":1340.68,"body":"No, no, no stated income."},{"startTime":1341.52,"endTime":1343.72,"body":"No, no job necessary."},{"startTime":1344.12,"endTime":1348.84,"body":"So those were just a catastrophe"},{"startTime":1344.12,"endTime":1348.84,"body":"that was inevitable."},{"startTime":1348.84,"endTime":1354.28,"body":"Like there was there was"},{"startTime":1348.84,"endTime":1354.28,"body":"trillions of dollars in these bad loans."},{"startTime":1354.28,"endTime":1358.96,"body":"And they they got packaged"},{"startTime":1354.28,"endTime":1358.96,"body":"and shipped off to around the world."},{"startTime":1360.28,"endTime":1360.84,"body":"A lot of it was"},{"startTime":1360.84,"endTime":1364.28,"body":"managed by those Wall Street,"},{"startTime":1360.84,"endTime":1364.28,"body":"those big Wall Street banks."},{"startTime":1364.76,"endTime":1368.92,"body":"And you know that obviously we all watched"},{"startTime":1364.76,"endTime":1368.92,"body":"that when they all collapsed"},{"startTime":1369.36,"endTime":1372.0,"body":"because there was so much bad debt."},{"startTime":1372.0,"endTime":1372.84,"body":"Mm hmm."},{"startTime":1372.84,"endTime":1375.8,"body":"I think that's the reason"},{"startTime":1372.84,"endTime":1375.8,"body":"maybe you think we are in this situation"},{"startTime":1375.8,"endTime":1378.88,"body":"now because it's kind of a ripple effect,"},{"startTime":1375.8,"endTime":1378.88,"body":"Right?"},{"startTime":1378.88,"endTime":1381.52,"body":"Take a little bit time."},{"startTime":1381.56,"endTime":1382.44,"body":"Yeah."},{"startTime":1383.52,"endTime":1383.8,"body":"Yeah."},{"startTime":1383.8,"endTime":1388.76,"body":"I think we saw you know,"},{"startTime":1383.8,"endTime":1388.76,"body":"I feel like Silicon Valley Bank,"},{"startTime":1389.6,"endTime":1392.76,"body":"Credit Suisse,"},{"startTime":1389.6,"endTime":1392.76,"body":"some of the victims that that happened."},{"startTime":1392.76,"endTime":1396.4,"body":"Now, maybe there was something that seemed"},{"startTime":1398.16,"endTime":1400.0,"body":"reckless and really"},{"startTime":1400.0,"endTime":1405.32,"body":"grossly irresponsible in 2008"},{"startTime":1400.0,"endTime":1405.32,"body":"with the way that"},{"startTime":1406.2,"endTime":1408.88,"body":"that banks and lenders,"},{"startTime":1408.88,"endTime":1411.0,"body":"you know, they they were willing to"},{"startTime":1411.0,"endTime":1416.08,"body":"to make bad loans and knowingly"},{"startTime":1411.0,"endTime":1416.08,"body":"and part of the reason they did that,"},{"startTime":1416.08,"endTime":1421.24,"body":"because they knew that this bad loan"},{"startTime":1416.08,"endTime":1421.24,"body":"that they you know, each bad"},{"startTime":1421.24,"endTime":1426.0,"body":"loan that they made would only be"},{"startTime":1421.24,"endTime":1426.0,"body":"on their books for maybe a month."},{"startTime":1426.0,"endTime":1428.16,"body":"And then they would"},{"startTime":1426.0,"endTime":1428.16,"body":"they would package that up"},{"startTime":1428.32,"endTime":1431.2,"body":"to Wall Street firms"},{"startTime":1428.32,"endTime":1431.2,"body":"and then they'd send those"},{"startTime":1432.36,"endTime":1434.04,"body":"securities around the world"},{"startTime":1434.04,"endTime":1436.6,"body":"and and investors bought them up."},{"startTime":1437.2,"endTime":1439.84,"body":"And but they were all terrible loans"},{"startTime":1437.2,"endTime":1439.84,"body":"because they were all"},{"startTime":1440.6,"endTime":1442.12,"body":"like ticking time bombs."},{"startTime":1442.12,"endTime":1446.8,"body":"And so when they when all those that you"},{"startTime":1442.12,"endTime":1446.8,"body":"I'm sure you remember the"},{"startTime":1446.8,"endTime":1451.08,"body":"the waves of foreclosures"},{"startTime":1446.8,"endTime":1451.08,"body":"because these people that got loans,"},{"startTime":1451.08,"endTime":1452.32,"body":"they couldn't pay their loans."},{"startTime":1452.32,"endTime":1454.76,"body":"And so there were whole communities."},{"startTime":1455.2,"endTime":1458.0,"body":"I think there was like parts of L.A."},{"startTime":1458.0,"endTime":1459.84,"body":"where the entire,"},{"startTime":1459.84,"endTime":1463.24,"body":"you know, for like a mile, like"},{"startTime":1459.84,"endTime":1463.24,"body":"every house was under foreclosure."},{"startTime":1463.84,"endTime":1466.32,"body":"Like in these new developments."},{"startTime":1466.32,"endTime":1466.76,"body":"That's true."},{"startTime":1466.76,"endTime":1470.12,"body":"And everybody's"},{"startTime":1466.76,"endTime":1470.12,"body":"going to talking about creative"},{"startTime":1470.12,"endTime":1474.0,"body":"financing these days, you know,"},{"startTime":1470.12,"endTime":1474.0,"body":"And you might have seen that, too, right?"},{"startTime":1474.36,"endTime":1477.76,"body":"So they are coming out with different ways"},{"startTime":1477.76,"endTime":1481.8,"body":"of getting this more creative"},{"startTime":1477.76,"endTime":1481.8,"body":"on the lending side."},{"startTime":1481.8,"endTime":1483.16,"body":"On the financing side,"},{"startTime":1484.28,"endTime":1485.68,"body":"have you seen something like that"},{"startTime":1485.68,"endTime":1488.56,"body":"or can you share something in your area"},{"startTime":1485.68,"endTime":1488.56,"body":"that you have seen."},{"startTime":1489.4,"endTime":1492.4,"body":"Like ways to maneuver around,"},{"startTime":1492.84,"endTime":1496.92,"body":"you know, the obviously super high"},{"startTime":1492.84,"endTime":1496.92,"body":"backing of interest rates?"},{"startTime":1497.68,"endTime":1502.12,"body":"You know, we're doing a a deal right now"},{"startTime":1502.4,"endTime":1506.44,"body":"that and, you know, during a time"},{"startTime":1502.4,"endTime":1506.44,"body":"like this, you're looking"},{"startTime":1506.44,"endTime":1509.36,"body":"we're all kind of looking like,"},{"startTime":1506.44,"endTime":1509.36,"body":"how can how can we"},{"startTime":1510.04,"endTime":1512.68,"body":"how can we navigate this"},{"startTime":1513.52,"endTime":1516.28,"body":"current real estate market effectively"},{"startTime":1516.88,"endTime":1521.08,"body":"with with these high interest rates"},{"startTime":1516.88,"endTime":1521.08,"body":"that we're all dealing with?"},{"startTime":1521.4,"endTime":1524.6,"body":"And I what are my strategies is,"},{"startTime":1525.92,"endTime":1528.24,"body":"you know, there's to take a step back."},{"startTime":1528.72,"endTime":1534.4,"body":"As you probably know,"},{"startTime":1528.72,"endTime":1534.4,"body":"there's two huge demographics right now."},{"startTime":1534.4,"endTime":1537.64,"body":"There's the baby boomers,"},{"startTime":1534.4,"endTime":1537.64,"body":"who is the largest"},{"startTime":1538.72,"endTime":1540.84,"body":"demographic in U.S. history."},{"startTime":1541.16,"endTime":1545.68,"body":"And now, like their their offspring,"},{"startTime":1541.16,"endTime":1545.68,"body":"which is the"},{"startTime":1545.92,"endTime":1551.24,"body":"the millennials are"},{"startTime":1545.92,"endTime":1551.24,"body":"is has now surpassed the baby boomers."},{"startTime":1551.24,"endTime":1554.84,"body":"So we've got two giant demographics."},{"startTime":1554.84,"endTime":1559.24,"body":"One of them is all in their retirement"},{"startTime":1554.84,"endTime":1559.24,"body":"going into retirement, the baby boomers"},{"startTime":1559.52,"endTime":1563.56,"body":"and the millennials"},{"startTime":1559.52,"endTime":1563.56,"body":"are entering their homebuying years."},{"startTime":1564.88,"endTime":1567.92,"body":"So that"},{"startTime":1564.88,"endTime":1567.92,"body":"that's a long winded way to get to."},{"startTime":1567.92,"endTime":1571.84,"body":"Like I,"},{"startTime":1567.92,"endTime":1571.84,"body":"I think a strategy that you could use"},{"startTime":1571.84,"endTime":1574.76,"body":"now is is and that I think about is like"},{"startTime":1575.32,"endTime":1578.72,"body":"look for post debt investors"},{"startTime":1579.56,"endTime":1582.48,"body":"in what I mean by"},{"startTime":1579.56,"endTime":1582.48,"body":"that is like look for those baby boomers"},{"startTime":1582.76,"endTime":1586.8,"body":"who are maybe in their seventies eighties,"},{"startTime":1582.76,"endTime":1586.8,"body":"they don't want debt."},{"startTime":1586.8,"endTime":1589.44,"body":"They they have"},{"startTime":1589.44,"endTime":1593.32,"body":"properties and investment properties"},{"startTime":1589.44,"endTime":1593.32,"body":"that are free and clear and"},{"startTime":1593.8,"endTime":1598.08,"body":"and you could go to them"},{"startTime":1593.8,"endTime":1598.08,"body":"and that's the that's the buyer"},{"startTime":1598.08,"endTime":1600.64,"body":"that's the seller"},{"startTime":1598.08,"endTime":1600.64,"body":"that you want to buy off of"},{"startTime":1601.72,"endTime":1603.52,"body":"because they have no debt."},{"startTime":1603.52,"endTime":1607.84,"body":"You know, in normal times,"},{"startTime":1603.52,"endTime":1607.84,"body":"most of the people you buy from"},{"startTime":1608.24,"endTime":1611.0,"body":"have a debt, have a loan that's due."},{"startTime":1611.12,"endTime":1613.84,"body":"And so they're limited"},{"startTime":1611.12,"endTime":1613.84,"body":"on what they can do."},{"startTime":1614.2,"endTime":1617.6,"body":"But I think in today's world, you've got"},{"startTime":1618.44,"endTime":1621.64,"body":"you can buy you have some opportunity"},{"startTime":1621.64,"endTime":1624.88,"body":"to buy off of seller who"},{"startTime":1625.56,"endTime":1630.0,"body":"who doesn't need or want debt"},{"startTime":1625.56,"endTime":1630.0,"body":"and some of them you know, the property"},{"startTime":1630.0,"endTime":1635.36,"body":"that we're buying right now is"},{"startTime":1630.0,"endTime":1635.36,"body":"the seller has owned it for 40 years."},{"startTime":1635.36,"endTime":1637.0,"body":"There's no debt on it."},{"startTime":1637.0,"endTime":1640.44,"body":"And he's tired and he he's a self manager."},{"startTime":1640.72,"endTime":1646.08,"body":"And so, you know, he's very willing it's"},{"startTime":1640.72,"endTime":1646.08,"body":"very appealing to him to"},{"startTime":1646.6,"endTime":1650.2,"body":"to sell the property and to provide debt."},{"startTime":1650.2,"endTime":1654.76,"body":"And he's providing us"},{"startTime":1650.2,"endTime":1654.76,"body":"with 2% a 2% loan for three years,"},{"startTime":1655.0,"endTime":1659.44,"body":"which is phenomenal"},{"startTime":1655.0,"endTime":1659.44,"body":"when when rates are as high as they are."},{"startTime":1659.76,"endTime":1661.84,"body":"And he's happy"},{"startTime":1659.76,"endTime":1661.84,"body":"he's getting some cash flow."},{"startTime":1662.16,"endTime":1664.6,"body":"He's he's getting everything he wants."},{"startTime":1664.6,"endTime":1666.76,"body":"He's getting cash flow and"},{"startTime":1668.04,"endTime":1668.56,"body":"no more"},{"startTime":1668.56,"endTime":1672.48,"body":"headaches of self managing"},{"startTime":1668.56,"endTime":1672.48,"body":"and I think there's there"},{"startTime":1672.6,"endTime":1676.32,"body":"is millions of those sellers out there"},{"startTime":1672.6,"endTime":1676.32,"body":"if you can connect with them."},{"startTime":1676.96,"endTime":1679.48,"body":"Like we're paying them"},{"startTime":1676.96,"endTime":1679.48,"body":"so they can do the seller financing."},{"startTime":1679.48,"endTime":1681.28,"body":"I think that's a really good one too."},{"startTime":1681.28,"endTime":1684.84,"body":"But with where do you see the future"},{"startTime":1681.28,"endTime":1684.84,"body":"of the multifamily investing, you know,"},{"startTime":1685.4,"endTime":1688.76,"body":"for the next few years now And then"},{"startTime":1685.4,"endTime":1688.76,"body":"I think like you were talking about"},{"startTime":1689.64,"endTime":1693.92,"body":"the generational change"},{"startTime":1689.64,"endTime":1693.92,"body":"or the experience for the new generation"},{"startTime":1693.92,"endTime":1697.84,"body":"is totally different because today's"},{"startTime":1693.92,"endTime":1697.84,"body":"generation and you're in the writing,"},{"startTime":1697.84,"endTime":1702.04,"body":"what you write for Family Guy, you know,"},{"startTime":1697.84,"endTime":1702.04,"body":"and you are way ahead of the game."},{"startTime":1702.04,"endTime":1702.52,"body":"what you write for Family Guy, you know,"},{"startTime":1702.04,"endTime":1702.52,"body":"and you are way ahead of the game."},{"startTime":1702.52,"endTime":1702.6,"body":"We had"},{"startTime":1702.52,"endTime":1702.6,"body":"most of the people are most of the people"},{"startTime":1702.6,"endTime":1702.8,"body":"We had"},{"startTime":1702.6,"endTime":1702.8,"body":"most of the people are most of the people"},{"startTime":1702.8,"endTime":1703.88,"body":"We had"},{"startTime":1702.8,"endTime":1703.88,"body":"most of the people are most of the people"},{"startTime":1703.88,"endTime":1705.08,"body":"the way they are thinking, you know,"},{"startTime":1703.88,"endTime":1705.08,"body":"So if you see in"},{"startTime":1706.28,"endTime":1707.4,"body":"Experience, The experiential generation,"},{"startTime":1706.28,"endTime":1707.4,"body":"that's what I call them."},{"startTime":1708.44,"endTime":1708.92,"body":"All these"},{"startTime":1708.92,"endTime":1711.6,"body":"companies popping up, you know, here"},{"startTime":1708.92,"endTime":1711.6,"body":"they are like, right."},{"startTime":1712.04,"endTime":1716.12,"body":"And then dashed or whatever they are,"},{"startTime":1712.04,"endTime":1716.12,"body":"they don't wanting to"},{"startTime":1716.28,"endTime":1720.36,"body":"buy properties or they don't want to hoard"},{"startTime":1716.28,"endTime":1720.36,"body":"like our generation was."},{"startTime":1720.36,"endTime":1723.72,"body":"We are like more into hoarding"},{"startTime":1720.36,"endTime":1723.72,"body":"by a big house, by a big car, all that."},{"startTime":1723.96,"endTime":1729.04,"body":"So like they wanted to experience life"},{"startTime":1723.96,"endTime":1729.04,"body":"and they wanted to maybe rent more"},{"startTime":1729.48,"endTime":1732.52,"body":"or maybe hire a cab versus buying a car."},{"startTime":1732.96,"endTime":1737.2,"body":"So what is your perspective on that"},{"startTime":1732.96,"endTime":1737.2,"body":"you think is going to change the dynamics"},{"startTime":1737.2,"endTime":1741.32,"body":"for the investors"},{"startTime":1737.2,"endTime":1741.32,"body":"going forward in the future"},{"startTime":1741.72,"endTime":1744.24,"body":"of for the next few years?"},{"startTime":1745.0,"endTime":1749.32,"body":"I would I would you know, I'm"},{"startTime":1745.0,"endTime":1749.32,"body":"far from an expert on this,"},{"startTime":1749.32,"endTime":1751.88,"body":"but I would think that"},{"startTime":1752.64,"endTime":1756.24,"body":"that as they get a little bit older"},{"startTime":1757.16,"endTime":1762.28,"body":"or start to have families,"},{"startTime":1757.16,"endTime":1762.28,"body":"they'll they'll recognize the"},{"startTime":1762.28,"endTime":1768.32,"body":"the value of an appreciating asset"},{"startTime":1762.28,"endTime":1768.32,"body":"which which homeownership brings."},{"startTime":1768.32,"endTime":1772.28,"body":"I know right now there is in"},{"startTime":1768.32,"endTime":1772.28,"body":"I honestly like"},{"startTime":1772.84,"endTime":1775.72,"body":"didn't read read the economy be"},{"startTime":1776.16,"endTime":1781.4,"body":"that way"},{"startTime":1776.16,"endTime":1781.4,"body":"at first is like why are why are our"},{"startTime":1782.6,"endTime":1785.32,"body":"why does"},{"startTime":1782.6,"endTime":1785.32,"body":"why is there such a large demographic"},{"startTime":1785.32,"endTime":1789.2,"body":"that's still renting into their"},{"startTime":1785.32,"endTime":1789.2,"body":"you know that have good incomes"},{"startTime":1789.52,"endTime":1792.08,"body":"but are renters by choice and"},{"startTime":1793.12,"endTime":1797.56,"body":"and I think yeah there is an expediency"},{"startTime":1793.12,"endTime":1797.56,"body":"in a convenience"},{"startTime":1797.96,"endTime":1802.24,"body":"of of not having that"},{"startTime":1797.96,"endTime":1802.24,"body":"but I wonder if long term at some point"},{"startTime":1802.24,"endTime":1805.6,"body":"they're going to want to settle"},{"startTime":1802.24,"endTime":1805.6,"body":"into a property that's going to"},{"startTime":1806.0,"endTime":1808.56,"body":"that's going to increase in value"},{"startTime":1809.8,"endTime":1812.96,"body":"if they'll be if they become more,"},{"startTime":1809.8,"endTime":1812.96,"body":"you know, investment"},{"startTime":1812.96,"endTime":1816.12,"body":"folk focused as most people do,"},{"startTime":1812.96,"endTime":1816.12,"body":"as they get older."},{"startTime":1816.72,"endTime":1817.56,"body":"Yeah, I'm pretty sure."},{"startTime":1817.56,"endTime":1820.76,"body":"I think that investors,"},{"startTime":1817.56,"endTime":1820.76,"body":"they like to invest, but at the same time,"},{"startTime":1821.08,"endTime":1824.4,"body":"they are like more experience oriented."},{"startTime":1824.76,"endTime":1825.96,"body":"So that's the reason all this."},{"startTime":1825.96,"endTime":1831.16,"body":"And then when I see all these companies"},{"startTime":1825.96,"endTime":1831.16,"body":"popping up, you know, like all were dashed"},{"startTime":1831.16,"endTime":1835.04,"body":"or mortgage companies,"},{"startTime":1831.16,"endTime":1835.04,"body":"it's like cannot buy shares like sharing"},{"startTime":1835.04,"endTime":1838.48,"body":"is getting kind of thing you know is like"},{"startTime":1835.04,"endTime":1838.48,"body":"share where everything is being shared."},{"startTime":1838.8,"endTime":1844.0,"body":"So I just wonder sometimes, you know,"},{"startTime":1838.8,"endTime":1844.0,"body":"what is going to look like."},{"startTime":1844.36,"endTime":1845.76,"body":"I know."},{"startTime":1845.76,"endTime":1848.76,"body":"So maybe it's going to more opportunity"},{"startTime":1845.76,"endTime":1848.76,"body":"for the people"},{"startTime":1848.76,"endTime":1852.6,"body":"to invest in multifamily because is more"},{"startTime":1848.76,"endTime":1852.6,"body":"people are renting."},{"startTime":1852.6,"endTime":1856.24,"body":"We need more housing on that side"},{"startTime":1852.6,"endTime":1856.24,"body":"versus single family homes."},{"startTime":1856.24,"endTime":1860.36,"body":"You know, that could be like"},{"startTime":1856.24,"endTime":1860.36,"body":"really good opportunity right there."},{"startTime":1860.88,"endTime":1865.6,"body":"But again,"},{"startTime":1860.88,"endTime":1865.6,"body":"you know, it's like all depends, you know,"},{"startTime":1867.48,"endTime":1870.44,"body":"different thinking, different process"},{"startTime":1867.48,"endTime":1870.44,"body":"of doing things."},{"startTime":1870.76,"endTime":1875.92,"body":"But anyways, we are out of time"},{"startTime":1870.76,"endTime":1875.92,"body":"and I love to continue this conversation."},{"startTime":1876.24,"endTime":1880.36,"body":"But at this point, I wanted to ask you"},{"startTime":1876.24,"endTime":1880.36,"body":"one golden nugget for my audience."},{"startTime":1881.52,"endTime":1883.44,"body":"You know, I think for"},{"startTime":1883.44,"endTime":1885.72,"body":"I think if you're a real estate investor,"},{"startTime":1887.76,"endTime":1891.0,"body":"maybe you"},{"startTime":1887.76,"endTime":1891.0,"body":"maybe you consider that strategy."},{"startTime":1891.24,"endTime":1893.44,"body":"The strategy that I mentioned of of"},{"startTime":1894.24,"endTime":1896.6,"body":"look for post debt"},{"startTime":1896.6,"endTime":1900.84,"body":"sellers in today's environment"},{"startTime":1896.6,"endTime":1900.84,"body":"as a way to navigate it"},{"startTime":1901.48,"endTime":1903.48,"body":"and what other"},{"startTime":1904.52,"endTime":1907.64,"body":"what other gold nugget."},{"startTime":1907.72,"endTime":1909.52,"body":"Yeah don't take it too seriously."},{"startTime":1909.52,"endTime":1912.84,"body":"I feel like a lot of my I'm in I'm"},{"startTime":1912.84,"endTime":1915.84,"body":"in two rooms on almost every given day."},{"startTime":1915.84,"endTime":1918.92,"body":"I'm in the Family Guy"},{"startTime":1915.84,"endTime":1918.92,"body":"writer's room and I'm"},{"startTime":1919.04,"endTime":1921.52,"body":"in with my team, my real estate team."},{"startTime":1922.04,"endTime":1924.6,"body":"And sometimes I often,"},{"startTime":1924.92,"endTime":1929.64,"body":"you know, you get stressed out"},{"startTime":1924.92,"endTime":1929.64,"body":"and I, I go to the family Guy room"},{"startTime":1929.64,"endTime":1933.48,"body":"and I realize like, oh, yeah, it's"},{"startTime":1929.64,"endTime":1933.48,"body":"this is important."},{"startTime":1933.48,"endTime":1937.04,"body":"Like, you know, it's important for"},{"startTime":1933.48,"endTime":1937.04,"body":"your health, for your mental well-being."},{"startTime":1937.36,"endTime":1938.56,"body":"You got to laugh."},{"startTime":1938.56,"endTime":1941.52,"body":"And I think that's"},{"startTime":1938.56,"endTime":1941.52,"body":"one of the gifts of that"},{"startTime":1941.76,"endTime":1945.12,"body":"show, is that you go"},{"startTime":1941.76,"endTime":1945.12,"body":"you go there every day"},{"startTime":1945.12,"endTime":1947.36,"body":"and you make fun of other people"},{"startTime":1945.12,"endTime":1947.36,"body":"and they make fun of you."},{"startTime":1947.36,"endTime":1951.96,"body":"And nobody really takes anyone"},{"startTime":1947.36,"endTime":1951.96,"body":"or themselves that seriously."},{"startTime":1951.96,"endTime":1954.64,"body":"And it's a good it's healthy."},{"startTime":1955.56,"endTime":1957.04,"body":"I love that golden nugget."},{"startTime":1957.04,"endTime":1958.48,"body":"Don't be serious."},{"startTime":1958.48,"endTime":1959.72,"body":"It's just life, you know?"},{"startTime":1959.72,"endTime":1963.72,"body":"Let's have fun,"},{"startTime":1959.72,"endTime":1963.72,"body":"because life is all about having fun."},{"startTime":1963.72,"endTime":1966.28,"body":"And don't forget to live, right?"},{"startTime":1966.64,"endTime":1970.08,"body":"If you're chasing money"},{"startTime":1966.64,"endTime":1970.08,"body":"and then chasing work or"},{"startTime":1970.68,"endTime":1973.68,"body":"whatever you're after,"},{"startTime":1970.68,"endTime":1973.68,"body":"you're missing out on a living."},{"startTime":1974.72,"endTime":1976.12,"body":"So don't be serious."},{"startTime":1976.12,"endTime":1977.0,"body":"Love that."},{"startTime":1977.0,"endTime":1979.08,"body":"So this brings us to our rapid fire round."},{"startTime":1979.16,"endTime":1982.72,"body":"I'm going to ask you five questions"},{"startTime":1979.16,"endTime":1982.72,"body":"you have to answer in one sentence."},{"startTime":1982.92,"endTime":1984.76,"body":"Lee, are you ready."},{"startTime":1984.76,"endTime":1985.84,"body":"In one sentence only."},{"startTime":1985.84,"endTime":1988.08,"body":"Okay. I'm terrible on my feet,"},{"startTime":1985.84,"endTime":1988.08,"body":"but I'll try."},{"startTime":1988.56,"endTime":1991.28,"body":"One word or one sentence. Okay, Let's try."},{"startTime":1991.32,"endTime":1991.84,"body":"Let's try."},{"startTime":1991.84,"endTime":1994.24,"body":"How you can do it."},{"startTime":1995.8,"endTime":1999.52,"body":"What is the one most important thing"},{"startTime":1995.8,"endTime":1999.52,"body":"that you've learned in your life,"},{"startTime":1999.92,"endTime":2002.44,"body":"and how did it change your life"},{"startTime":1999.92,"endTime":2002.44,"body":"after learning it?"},{"startTime":2003.08,"endTime":2004.64,"body":"What is the most thing?"},{"startTime":2004.64,"endTime":2007.52,"body":"The most important thing"},{"startTime":2004.64,"endTime":2007.52,"body":"I've learned in my life?"},{"startTime":2010.04,"endTime":2011.32,"body":"Letting go."},{"startTime":2011.32,"endTime":2014.32,"body":"Yeah, that's the best."},{"startTime":2014.72,"endTime":2016.88,"body":"What is the best book that you have read?"},{"startTime":2017.12,"endTime":2020.6,"body":"Or it meant to my audience, the."},{"startTime":2020.72,"endTime":2023.2,"body":"Best book that I have read,"},{"startTime":2026.04,"endTime":2026.96,"body":"Catcher in the Rye."},{"startTime":2027.92,"endTime":2030.32,"body":"I see it all in one word."},{"startTime":2030.32,"endTime":2032.76,"body":"What does life mean to you?"},{"startTime":2034.04,"endTime":2035.44,"body":"Community?"},{"startTime":2036.68,"endTime":2037.84,"body":"I like that."},{"startTime":2037.84,"endTime":2040.64,"body":"What is your biggest passion?"},{"startTime":2041.96,"endTime":2043.12,"body":"Running."},{"startTime":2044.48,"endTime":2047.8,"body":"If you could turn back in time"},{"startTime":2044.48,"endTime":2047.8,"body":"and talk to your younger self,"},{"startTime":2048.48,"endTime":2051.08,"body":"what would you tell yourself and why."},{"startTime":2053.12,"endTime":2053.88,"body":"Go for it?"},{"startTime":2053.88,"endTime":2056.6,"body":"I would tell them, Go for it"},{"startTime":2053.88,"endTime":2056.6,"body":"because you only live once."},{"startTime":2056.6,"endTime":2058.68,"body":"That's that's the juice in life is,"},{"startTime":2059.88,"endTime":2061.88,"body":"as you know, don't take yourself seriously"},{"startTime":2061.88,"endTime":2063.88,"body":"as part of that, because I think"},{"startTime":2064.92,"endTime":2067.4,"body":"you know the fear"},{"startTime":2064.92,"endTime":2067.4,"body":"and if you don't take yourself"},{"startTime":2067.4,"endTime":2070.16,"body":"that seriously,"},{"startTime":2067.4,"endTime":2070.16,"body":"I feel like I don't take myself seriously."},{"startTime":2070.36,"endTime":2073.56,"body":"And as a result,"},{"startTime":2070.36,"endTime":2073.56,"body":"I try things and I'm happy to fail."},{"startTime":2074.0,"endTime":2078.28,"body":"And I think, you know,"},{"startTime":2074.0,"endTime":2078.28,"body":"I succeed because I fail."},{"startTime":2079.76,"endTime":2083.32,"body":"I love that everybody's"},{"startTime":2079.76,"endTime":2083.32,"body":"got to be ready to fall on their face."},{"startTime":2084.24,"endTime":2085.08,"body":"So true."},{"startTime":2085.08,"endTime":2087.68,"body":"I like that I'm in the same boat as well."},{"startTime":2088.04,"endTime":2090.56,"body":"So, Mark, how can people reach out to you?"},{"startTime":2090.96,"endTime":2092.52,"body":"A You can."},{"startTime":2092.52,"endTime":2095.04,"body":"Let's see. My"},{"startTime":2092.52,"endTime":2095.04,"body":"my company is Quantum capital."},{"startTime":2095.04,"endTime":2097.84,"body":"You could come"},{"startTime":2095.04,"endTime":2097.84,"body":"check our check out our website"},{"startTime":2098.68,"endTime":2101.6,"body":"and yeah, you could shoot me an email"},{"startTime":2098.68,"endTime":2101.6,"body":"if you'd like."},{"startTime":2102.08,"endTime":2105.44,"body":"By It's my full name at Mi.com."},{"startTime":2107.36,"endTime":2108.32,"body":"Yeah, reach out."},{"startTime":2108.32,"endTime":2109.88,"body":"Love to meet you."},{"startTime":2110.48,"endTime":2110.92,"body":"All right."},{"startTime":2110.92,"endTime":2113.12,"body":"Thanks for being on my show today, Mark."},{"startTime":2113.12,"endTime":2114.2,"body":"I really enjoy mine."},{"startTime":2114.2,"endTime":2115.52,"body":"Thanks for having me."},{"startTime":2115.52,"endTime":2117.88,"body":"It was it was great. It was awesome."}]}