{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.193,"endTime":1.213,"body":"Hey,"},{"speaker":"Average Joe Finances","startTime":0.193,"endTime":1.213,"body":"how's it going everybody?"},{"speaker":"Average Joe Finances","startTime":1.213,"endTime":7.213,"body":"So today's guest is Perry Zheng, and Perry"},{"speaker":"Average Joe Finances","startTime":1.213,"endTime":7.213,"body":"is the founder and CEO of cashflow portal."},{"speaker":"Average Joe Finances","startTime":7.424,"endTime":9.314,"body":"It's a real estate syndication software."},{"speaker":"Average Joe Finances","startTime":9.643,"endTime":13.483,"body":"He currently lives in Seattle where he"},{"speaker":"Average Joe Finances","startTime":9.643,"endTime":13.483,"body":"owned six, six single family properties."},{"speaker":"Average Joe Finances","startTime":13.733,"endTime":16.313,"body":"Perry started a real estate"},{"speaker":"Average Joe Finances","startTime":13.733,"endTime":16.313,"body":"syndication three years ago."},{"speaker":"Average Joe Finances","startTime":16.673,"endTime":17.033,"body":"Today."},{"speaker":"Average Joe Finances","startTime":17.033,"endTime":22.953,"body":"He has more than 1,500 units and"},{"speaker":"Average Joe Finances","startTime":17.033,"endTime":22.953,"body":"raised over $16  as a lead syndicator"},{"speaker":"Average Joe Finances","startTime":22.953,"endTime":26.553,"body":"on two deals, totaling 580 units."},{"speaker":"Average Joe Finances","startTime":27.093,"endTime":31.233,"body":"His goal was to help other syndicators"},{"speaker":"Average Joe Finances","startTime":27.093,"endTime":31.233,"body":"succeed and overcome common challenges"},{"speaker":"Average Joe Finances","startTime":31.233,"endTime":35.193,"body":"like raising capital and finding"},{"speaker":"Average Joe Finances","startTime":31.233,"endTime":35.193,"body":"deals even while having a full-time"},{"speaker":"Average Joe Finances","startTime":35.193,"endTime":37.063,"body":"job speaking of full-time jobs."},{"speaker":"Average Joe Finances","startTime":37.303,"endTime":41.953,"body":"Perry just left his full-time job at"},{"speaker":"Average Joe Finances","startTime":37.303,"endTime":41.953,"body":"Lyft as the engineering manager to"},{"speaker":"Average Joe Finances","startTime":41.953,"endTime":44.443,"body":"go full-time with cashflow portal."},{"speaker":"Average Joe Finances","startTime":44.753,"endTime":47.183,"body":"Previous to that, he worked"},{"speaker":"Average Joe Finances","startTime":44.753,"endTime":47.183,"body":"at Twitter and Amazon."},{"speaker":"Average Joe Finances","startTime":47.183,"endTime":49.523,"body":"So Perry, what an amazing background."},{"speaker":"Average Joe Finances","startTime":49.523,"endTime":51.083,"body":"I'm super excited to have you on the show."},{"speaker":"Average Joe Finances","startTime":51.083,"endTime":51.723,"body":"Thanks for joining me."},{"speaker":"Perry Zheng","startTime":51.723,"endTime":53.888,"body":"Thanks Mike for having me."},{"speaker":"Perry Zheng","startTime":54.008,"endTime":55.688,"body":"I'm super excited to be here as well."},{"speaker":"Average Joe Finances","startTime":56.388,"endTime":56.809,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":56.858,"endTime":60.768,"body":"The way I'd like to start this off as"},{"speaker":"Average Joe Finances","startTime":56.858,"endTime":60.768,"body":"the way I start every episode off, and, I"},{"speaker":"Average Joe Finances","startTime":60.768,"endTime":63.948,"body":"talked a little bit about your background"},{"speaker":"Average Joe Finances","startTime":60.768,"endTime":63.948,"body":"and that's all like wave top stuff and"},{"speaker":"Average Joe Finances","startTime":63.948,"endTime":65.779,"body":"you're doing like some amazing things."},{"speaker":"Average Joe Finances","startTime":65.988,"endTime":68.388,"body":"So I want to try to get into"},{"speaker":"Average Joe Finances","startTime":65.988,"endTime":68.388,"body":"some more detail about that."},{"speaker":"Average Joe Finances","startTime":68.388,"endTime":71.839,"body":"So if you could share your story"},{"speaker":"Average Joe Finances","startTime":68.388,"endTime":71.839,"body":"with us and go into some detail"},{"speaker":"Average Joe Finances","startTime":71.839,"endTime":73.339,"body":"about how this all started with."},{"speaker":"Perry Zheng","startTime":74.494,"endTime":74.943,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":75.364,"endTime":81.064,"body":"I started investing in rental properties"},{"speaker":"Perry Zheng","startTime":75.364,"endTime":81.064,"body":"about six or seven years ago when I"},{"speaker":"Perry Zheng","startTime":81.304,"endTime":83.314,"body":"bought my first condo in San Francisco."},{"speaker":"Perry Zheng","startTime":83.944,"endTime":85.624,"body":"It's a condo with three bedrooms."},{"speaker":"Perry Zheng","startTime":85.624,"endTime":88.594,"body":"I live in one of the bedrooms"},{"speaker":"Perry Zheng","startTime":85.624,"endTime":88.594,"body":"and I rent out the other two."},{"speaker":"Perry Zheng","startTime":88.893,"endTime":90.244,"body":"So I started with house hockey."},{"speaker":"Perry Zheng","startTime":90.654,"endTime":93.684,"body":"It's very expensive to buy"},{"speaker":"Perry Zheng","startTime":90.654,"endTime":93.684,"body":"there and I don't believe"},{"speaker":"Perry Zheng","startTime":93.684,"endTime":95.694,"body":"that was exactly a investment."},{"speaker":"Perry Zheng","startTime":95.694,"endTime":98.364,"body":"I just got lucky and buying"},{"speaker":"Perry Zheng","startTime":95.694,"endTime":98.364,"body":"by buying at the right time."},{"speaker":"Perry Zheng","startTime":99.144,"endTime":100.004,"body":"Then I saw."},{"speaker":"Perry Zheng","startTime":100.624,"endTime":104.894,"body":"Reading rich dad, poor dad, and"},{"speaker":"Perry Zheng","startTime":100.624,"endTime":104.894,"body":"listening to the bigger pockets podcast."},{"speaker":"Perry Zheng","startTime":105.194,"endTime":110.984,"body":"So I caught the bug of wanting to buy"},{"speaker":"Perry Zheng","startTime":105.194,"endTime":110.984,"body":"an actual investment property and we."},{"speaker":"Perry Zheng","startTime":111.928,"endTime":114.439,"body":"Looked around San"},{"speaker":"Perry Zheng","startTime":111.928,"endTime":114.439,"body":"Francisco and the bay area."},{"speaker":"Perry Zheng","startTime":114.439,"endTime":116.868,"body":"And that's how I met my business"},{"speaker":"Perry Zheng","startTime":114.439,"endTime":116.868,"body":"partner at west settler."},{"speaker":"Perry Zheng","startTime":117.378,"endTime":122.288,"body":"I moved back to Seattle, to BARR to"},{"speaker":"Perry Zheng","startTime":117.378,"endTime":122.288,"body":"buy another house hockey property."},{"speaker":"Perry Zheng","startTime":122.288,"endTime":123.188,"body":"It's a five bedroom."},{"speaker":"Perry Zheng","startTime":123.218,"endTime":125.678,"body":"I live in one of the bedrooms"},{"speaker":"Perry Zheng","startTime":123.218,"endTime":125.678,"body":"and rent out the other four."},{"speaker":"Perry Zheng","startTime":126.078,"endTime":129.018,"body":"Purchase price is around $415,000."},{"speaker":"Perry Zheng","startTime":129.993,"endTime":133.473,"body":"And the monthly rents for each"},{"speaker":"Perry Zheng","startTime":129.993,"endTime":133.473,"body":"of the rooms is about $700."},{"speaker":"Perry Zheng","startTime":133.863,"endTime":134.943,"body":"So I'm going to do the math."},{"speaker":"Perry Zheng","startTime":135.163,"endTime":139.723,"body":"I was basically living there for the"},{"speaker":"Perry Zheng","startTime":135.163,"endTime":139.723,"body":"most, a hundred bucks per month without"},{"speaker":"Perry Zheng","startTime":139.723,"endTime":145.003,"body":"counting for the appreciation as well as"},{"speaker":"Perry Zheng","startTime":139.723,"endTime":145.003,"body":"the tax benefits of the single family."},{"speaker":"Perry Zheng","startTime":145.673,"endTime":149.153,"body":"So I saw that's not hard and I"},{"speaker":"Perry Zheng","startTime":145.673,"endTime":149.153,"body":"don't mind living with housemates."},{"speaker":"Perry Zheng","startTime":149.153,"endTime":150.653,"body":"And so I bought one again."},{"speaker":"Perry Zheng","startTime":150.653,"endTime":154.833,"body":"I bought one again every nine"},{"speaker":"Perry Zheng","startTime":150.653,"endTime":154.833,"body":"to 12 months after that after a"},{"speaker":"Perry Zheng","startTime":154.833,"endTime":156.753,"body":"certain point, I realized that."},{"speaker":"Perry Zheng","startTime":157.233,"endTime":161.523,"body":"The bank stone will not lend me any"},{"speaker":"Perry Zheng","startTime":157.233,"endTime":161.523,"body":"more money if I keep buying single"},{"speaker":"Perry Zheng","startTime":161.523,"endTime":163.633,"body":"families or these traditional banks."},{"speaker":"Perry Zheng","startTime":163.963,"endTime":167.653,"body":"So I started looking into real"},{"speaker":"Perry Zheng","startTime":163.963,"endTime":167.653,"body":"estate, syndication and multifamily"},{"speaker":"Perry Zheng","startTime":167.933,"endTime":171.743,"body":"spend about year learning multifamily"},{"speaker":"Perry Zheng","startTime":167.933,"endTime":171.743,"body":"by joining a mentorship group."},{"speaker":"Perry Zheng","startTime":172.023,"endTime":174.163,"body":"It does take a year and yeah, no."},{"speaker":"Perry Zheng","startTime":174.343,"endTime":177.313,"body":"If you asked me five, six years"},{"speaker":"Perry Zheng","startTime":174.343,"endTime":177.313,"body":"ago, wise reassess indication,"},{"speaker":"Perry Zheng","startTime":177.343,"endTime":178.543,"body":"I probably wouldn't know either."},{"speaker":"Perry Zheng","startTime":178.723,"endTime":181.703,"body":"It's a very young few and"},{"speaker":"Perry Zheng","startTime":178.723,"endTime":181.703,"body":"it's very it's very exciting."},{"speaker":"Perry Zheng","startTime":181.783,"endTime":183.433,"body":"That's funny, a lot of upfront costs."},{"speaker":"Average Joe Finances","startTime":184.097,"endTime":184.997,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":184.997,"endTime":188.267,"body":"So you started off house hacking"},{"speaker":"Average Joe Finances","startTime":184.997,"endTime":188.267,"body":"before you even knew what that was,"},{"speaker":"Average Joe Finances","startTime":188.307,"endTime":191.787,"body":"and then, you read rich dad, poor dad,"},{"speaker":"Average Joe Finances","startTime":188.307,"endTime":191.787,"body":"the purple Bible that that most of"},{"speaker":"Average Joe Finances","startTime":191.787,"endTime":195.217,"body":"us have read and started listening to"},{"speaker":"Average Joe Finances","startTime":191.787,"endTime":195.217,"body":"bigger pockets, which is absolutely"},{"speaker":"Average Joe Finances","startTime":195.217,"endTime":196.777,"body":"one of my favorite podcasts as well."},{"speaker":"Average Joe Finances","startTime":198.142,"endTime":202.732,"body":"So going from there, you decided it was"},{"speaker":"Average Joe Finances","startTime":198.142,"endTime":202.732,"body":"time to scale up and buy some more rental"},{"speaker":"Average Joe Finances","startTime":202.732,"endTime":204.682,"body":"properties to, to make a profit here."},{"speaker":"Average Joe Finances","startTime":204.682,"endTime":207.192,"body":"So you moved back to Seattle, right?"},{"speaker":"Average Joe Finances","startTime":207.192,"endTime":209.392,"body":"From San Francisco to house hack again."},{"speaker":"Average Joe Finances","startTime":209.422,"endTime":213.652,"body":"Now that first property, the way you were"},{"speaker":"Average Joe Finances","startTime":209.422,"endTime":213.652,"body":"describing it, I wasn't sure was that cash"},{"speaker":"Average Joe Finances","startTime":213.652,"endTime":217.552,"body":"flowing or after all the rent came in, you"},{"speaker":"Average Joe Finances","startTime":213.652,"endTime":217.552,"body":"were still paying about a hundred bucks."},{"speaker":"Perry Zheng","startTime":218.722,"endTime":219.472,"body":"Good question."},{"speaker":"Perry Zheng","startTime":219.832,"endTime":225.112,"body":"I, that case I was still paying about a"},{"speaker":"Perry Zheng","startTime":219.832,"endTime":225.112,"body":"hundred dollars a month, but it did not"},{"speaker":"Perry Zheng","startTime":225.582,"endTime":227.802,"body":"include the FA at the end of the year."},{"speaker":"Perry Zheng","startTime":227.862,"endTime":232.692,"body":"I can, I is my primary residence and"},{"speaker":"Perry Zheng","startTime":227.862,"endTime":232.692,"body":"the portion that I was living in the"},{"speaker":"Perry Zheng","startTime":232.692,"endTime":237.642,"body":"house could be my primary residence"},{"speaker":"Perry Zheng","startTime":232.692,"endTime":237.642,"body":"and the T the interest that I was paid"},{"speaker":"Perry Zheng","startTime":237.642,"endTime":239.682,"body":"in that portion is texts, deductible."},{"speaker":"Perry Zheng","startTime":239.892,"endTime":242.172,"body":"So if you do the math, I was, I pay right."},{"speaker":"Perry Zheng","startTime":242.532,"endTime":243.072,"body":"And second."},{"speaker":"Perry Zheng","startTime":243.607,"endTime":246.697,"body":"Once I move out of that"},{"speaker":"Perry Zheng","startTime":243.607,"endTime":246.697,"body":"house, that room will rent."},{"speaker":"Perry Zheng","startTime":246.757,"endTime":247.807,"body":"I live in a master room."},{"speaker":"Perry Zheng","startTime":248.047,"endTime":249.697,"body":"That room will rent for eight 50."},{"speaker":"Perry Zheng","startTime":249.877,"endTime":252.457,"body":"So I will be casually about 700 bucks."},{"speaker":"Perry Zheng","startTime":252.817,"endTime":256.597,"body":"So yes, I was paying a hundred,"},{"speaker":"Perry Zheng","startTime":252.817,"endTime":256.597,"body":"but I think that might be a lesson"},{"speaker":"Perry Zheng","startTime":256.597,"endTime":259.927,"body":"to some of the listeners that just"},{"speaker":"Perry Zheng","startTime":256.597,"endTime":259.927,"body":"because you're paying a hundred,"},{"speaker":"Perry Zheng","startTime":259.927,"endTime":261.457,"body":"doesn't mean it's a bad house hack."},{"speaker":"Perry Zheng","startTime":261.697,"endTime":264.847,"body":"You don't have to make every single"},{"speaker":"Perry Zheng","startTime":261.697,"endTime":264.847,"body":"house such that you pay nothing."},{"speaker":"Average Joe Finances","startTime":265.637,"endTime":267.217,"body":"You're"},{"speaker":"Average Joe Finances","startTime":265.637,"endTime":267.217,"body":"sitting here, you're living in."},{"speaker":"Average Joe Finances","startTime":267.982,"endTime":272.812,"body":"Not a very cheap cost of living"},{"speaker":"Average Joe Finances","startTime":267.982,"endTime":272.812,"body":"area and you're living in a 400,"},{"speaker":"Average Joe Finances","startTime":272.902,"endTime":276.592,"body":"said it was 450,000, $450,000"},{"speaker":"Average Joe Finances","startTime":272.902,"endTime":276.592,"body":"home for a hundred bucks."},{"speaker":"Average Joe Finances","startTime":277.377,"endTime":278.337,"body":"That's a pretty good deal."},{"speaker":"Average Joe Finances","startTime":278.337,"endTime":281.757,"body":"If you asked me and then, you, you started"},{"speaker":"Average Joe Finances","startTime":278.337,"endTime":281.757,"body":"going out there every nine months or"},{"speaker":"Average Joe Finances","startTime":281.757,"endTime":284.097,"body":"so, and doing it over and over again."},{"speaker":"Average Joe Finances","startTime":284.367,"endTime":288.357,"body":"So that first one now, and now it becomes"},{"speaker":"Average Joe Finances","startTime":284.367,"endTime":288.357,"body":"a cash flowing asset because now you"},{"speaker":"Average Joe Finances","startTime":288.357,"endTime":292.707,"body":"rent out that fifth room and you're"},{"speaker":"Average Joe Finances","startTime":288.357,"endTime":292.707,"body":"collecting at least 700 bucks a month."},{"speaker":"Average Joe Finances","startTime":292.757,"endTime":293.477,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":293.477,"endTime":296.807,"body":"And then on top of that, let's not even"},{"speaker":"Average Joe Finances","startTime":293.477,"endTime":296.807,"body":"get in like get into the weeds here, but"},{"speaker":"Average Joe Finances","startTime":296.807,"endTime":300.882,"body":"like, the appreciation and everything else"},{"speaker":"Average Joe Finances","startTime":296.807,"endTime":300.882,"body":"and the depreciation that you were able to"},{"speaker":"Average Joe Finances","startTime":300.882,"endTime":305.062,"body":"claim especially while filing your taxes,"},{"speaker":"Average Joe Finances","startTime":300.882,"endTime":305.062,"body":"then also the interest and all that."},{"speaker":"Average Joe Finances","startTime":305.112,"endTime":308.192,"body":"I would say that paying a hundred"},{"speaker":"Average Joe Finances","startTime":305.112,"endTime":308.192,"body":"bucks a month while you were living in"},{"speaker":"Average Joe Finances","startTime":308.192,"endTime":310.202,"body":"that property was a pretty good deal."},{"speaker":"Average Joe Finances","startTime":311.552,"endTime":312.542,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":312.842,"endTime":316.682,"body":"And then moving on from there, you"},{"speaker":"Average Joe Finances","startTime":312.842,"endTime":316.682,"body":"decided you wanted to scale even ha."},{"speaker":"Average Joe Finances","startTime":317.907,"endTime":320.157,"body":"And start looking at real"},{"speaker":"Average Joe Finances","startTime":317.907,"endTime":320.157,"body":"estate syndications, right?"},{"speaker":"Average Joe Finances","startTime":320.157,"endTime":323.907,"body":"And that's one of the fastest way"},{"speaker":"Average Joe Finances","startTime":320.157,"endTime":323.907,"body":"ways to scale both the amount of"},{"speaker":"Average Joe Finances","startTime":323.907,"endTime":327.897,"body":"units and also your monthly cashflow"},{"speaker":"Average Joe Finances","startTime":323.907,"endTime":327.897,"body":"is to start looking into multifamily."},{"speaker":"Average Joe Finances","startTime":327.947,"endTime":331.157,"body":"I've had multiple guests on that"},{"speaker":"Average Joe Finances","startTime":327.947,"endTime":331.157,"body":"talk about that, how they go from,"},{"speaker":"Average Joe Finances","startTime":331.437,"endTime":335.217,"body":"single family or they have small,"},{"speaker":"Average Joe Finances","startTime":331.437,"endTime":335.217,"body":"multi-family like duplex triplex"},{"speaker":"Average Joe Finances","startTime":335.217,"endTime":339.597,"body":"quadplexes and then they decide it's"},{"speaker":"Average Joe Finances","startTime":335.217,"endTime":339.597,"body":"time to get into something bigger."},{"speaker":"Average Joe Finances","startTime":339.837,"endTime":341.787,"body":"And that's when they start looking"},{"speaker":"Average Joe Finances","startTime":339.837,"endTime":341.787,"body":"at real estate syndications."},{"speaker":"Average Joe Finances","startTime":342.057,"endTime":345.417,"body":"Now you said you, you actually sat"},{"speaker":"Average Joe Finances","startTime":342.057,"endTime":345.417,"body":"here and research this for a year."},{"speaker":"Average Joe Finances","startTime":346.102,"endTime":349.342,"body":"Before you finally pulled the trigger"},{"speaker":"Average Joe Finances","startTime":346.102,"endTime":349.342,"body":"and got into your first indication."},{"speaker":"Average Joe Finances","startTime":349.342,"endTime":353.432,"body":"So you said you did a, was it a"},{"speaker":"Average Joe Finances","startTime":349.342,"endTime":353.432,"body":"coaching program or what was it that,"},{"speaker":"Perry Zheng","startTime":355.172,"endTime":355.532,"body":"yeah."},{"speaker":"Perry Zheng","startTime":355.662,"endTime":357.822,"body":"So a little bit about the background."},{"speaker":"Perry Zheng","startTime":358.222,"endTime":362.872,"body":"We syndicate we did a JV"},{"speaker":"Perry Zheng","startTime":358.222,"endTime":362.872,"body":"on a seven unit in Tacoma."},{"speaker":"Perry Zheng","startTime":363.327,"endTime":368.657,"body":"Before I went full-steam into the"},{"speaker":"Perry Zheng","startTime":363.327,"endTime":368.657,"body":"coaching program and the story"},{"speaker":"Perry Zheng","startTime":368.687,"endTime":370.827,"body":"there is we bought a seven unit."},{"speaker":"Perry Zheng","startTime":370.857,"endTime":372.987,"body":"It's a 540 K in Tacoma."},{"speaker":"Perry Zheng","startTime":373.257,"endTime":379.007,"body":"We're putting 150 K in renovations,"},{"speaker":"Perry Zheng","startTime":373.257,"endTime":379.007,"body":"so about, It's about 700 K total and"},{"speaker":"Perry Zheng","startTime":379.007,"endTime":384.467,"body":"we sold the about 18 months later for"},{"speaker":"Perry Zheng","startTime":379.007,"endTime":384.467,"body":"900 K about while that's going on."},{"speaker":"Perry Zheng","startTime":384.467,"endTime":388.627,"body":"We tried to buy another"},{"speaker":"Perry Zheng","startTime":384.467,"endTime":388.627,"body":"multi-family in the Seattle area."},{"speaker":"Perry Zheng","startTime":388.967,"endTime":391.767,"body":"And that one, we got a bit"},{"speaker":"Perry Zheng","startTime":388.967,"endTime":391.767,"body":"we did not win the deal."},{"speaker":"Perry Zheng","startTime":391.827,"endTime":393.137,"body":"It's a 3.2 million."},{"speaker":"Perry Zheng","startTime":393.732,"endTime":396.942,"body":"Do you for 20 units, it's"},{"speaker":"Perry Zheng","startTime":393.732,"endTime":396.942,"body":"very expensive in Seattle."},{"speaker":"Perry Zheng","startTime":397.312,"endTime":398.542,"body":"We didn't win that deal."},{"speaker":"Perry Zheng","startTime":398.602,"endTime":404.302,"body":"We will have one at, if I pay say"},{"speaker":"Perry Zheng","startTime":398.602,"endTime":404.302,"body":"3.25 by paying 50 K more for that."},{"speaker":"Perry Zheng","startTime":404.972,"endTime":409.182,"body":"And that's when I realized I"},{"speaker":"Perry Zheng","startTime":404.972,"endTime":409.182,"body":"want to be in a program where."},{"speaker":"Perry Zheng","startTime":409.712,"endTime":413.442,"body":"The name speaks for itself that"},{"speaker":"Perry Zheng","startTime":409.712,"endTime":413.442,"body":"people at the brokers take us took"},{"speaker":"Perry Zheng","startTime":413.442,"endTime":414.942,"body":"us seriously if they saw okay."},{"speaker":"Perry Zheng","startTime":414.942,"endTime":416.802,"body":"You're part of the XYZ program."},{"speaker":"Perry Zheng","startTime":416.892,"endTime":417.132,"body":"Okay."},{"speaker":"Perry Zheng","startTime":417.552,"endTime":421.132,"body":"And so that's when I went to data's"},{"speaker":"Perry Zheng","startTime":417.552,"endTime":421.132,"body":"and my business partner is awesome."},{"speaker":"Perry Zheng","startTime":421.132,"endTime":426.002,"body":"He moved to Dallas after we joined"},{"speaker":"Perry Zheng","startTime":421.132,"endTime":426.002,"body":"the program to be full-time asset"},{"speaker":"Perry Zheng","startTime":426.002,"endTime":427.652,"body":"managers slash boots on the ground."},{"speaker":"Perry Zheng","startTime":427.862,"endTime":430.682,"body":"So super blessed with the right team."},{"speaker":"Perry Zheng","startTime":430.962,"endTime":432.702,"body":"So he's there in Dallas."},{"speaker":"Perry Zheng","startTime":433.257,"endTime":438.627,"body":"Underwriting looking at properties every"},{"speaker":"Perry Zheng","startTime":433.257,"endTime":438.627,"body":"day, looking at the brokers do box I'm"},{"speaker":"Perry Zheng","startTime":438.627,"endTime":443.947,"body":"in Seattle, also underwriting talking"},{"speaker":"Perry Zheng","startTime":438.627,"endTime":443.947,"body":"to brokers, lenders as well as just"},{"speaker":"Perry Zheng","startTime":444.187,"endTime":446.187,"body":"thinking about, what's the next step."},{"speaker":"Perry Zheng","startTime":446.487,"endTime":450.387,"body":"And then we can get into that whole"},{"speaker":"Perry Zheng","startTime":446.487,"endTime":450.387,"body":"equity basic prosper, but from the"},{"speaker":"Perry Zheng","startTime":450.387,"endTime":454.077,"body":"moment that we joined the program to"},{"speaker":"Perry Zheng","startTime":450.387,"endTime":454.077,"body":"the moment that we have a deal under"},{"speaker":"Perry Zheng","startTime":454.077,"endTime":459.197,"body":"contract it took about it took us about"},{"speaker":"Perry Zheng","startTime":454.077,"endTime":459.197,"body":"seven months and that's seven months."},{"speaker":"Perry Zheng","startTime":460.177,"endTime":460.477,"body":"To me."},{"speaker":"Perry Zheng","startTime":460.477,"endTime":462.127,"body":"It was very long, seven to nine months."},{"speaker":"Perry Zheng","startTime":462.277,"endTime":465.697,"body":"We finally close it in about a"},{"speaker":"Perry Zheng","startTime":462.277,"endTime":465.697,"body":"year after we joined the program."},{"speaker":"Perry Zheng","startTime":465.807,"endTime":467.207,"body":"Took us about three months to close."},{"speaker":"Perry Zheng","startTime":467.237,"endTime":467.447,"body":"Yep."},{"speaker":"Average Joe Finances","startTime":469.217,"endTime":469.647,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":469.697,"endTime":472.827,"body":"So that was the first deal that"},{"speaker":"Average Joe Finances","startTime":469.697,"endTime":472.827,"body":"you guys did together as a partner."},{"speaker":"Perry Zheng","startTime":473.747,"endTime":474.017,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":474.077,"endTime":474.947,"body":"As a syndicator."},{"speaker":"Average Joe Finances","startTime":474.977,"endTime":475.217,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":475.487,"endTime":475.877,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":476.247,"endTime":477.857,"body":"Now that's not the seven unit, right?"},{"speaker":"Average Joe Finances","startTime":477.867,"endTime":479.247,"body":"This is something else Dallas."},{"speaker":"Perry Zheng","startTime":480.297,"endTime":484.317,"body":"So the seven unit in"},{"speaker":"Perry Zheng","startTime":480.297,"endTime":484.317,"body":"Tacoma was also and then I would"},{"speaker":"Perry Zheng","startTime":484.317,"endTime":489.877,"body":"get that together and that the first"},{"speaker":"Perry Zheng","startTime":484.317,"endTime":489.877,"body":"two syndication, it's 172 unit."},{"speaker":"Perry Zheng","startTime":490.227,"endTime":492.297,"body":"We were also the syndicators on that one."},{"speaker":"Perry Zheng","startTime":492.557,"endTime":495.287,"body":"Every few I have done is"},{"speaker":"Perry Zheng","startTime":492.557,"endTime":495.287,"body":"I'm the least indicator."},{"speaker":"Perry Zheng","startTime":495.507,"endTime":499.977,"body":"I try not to do co-sponsorship or like"},{"speaker":"Perry Zheng","startTime":495.507,"endTime":499.977,"body":"just helping raise equity and doing"},{"speaker":"Perry Zheng","startTime":499.977,"endTime":501.747,"body":"a little bit prop asset management."},{"speaker":"Perry Zheng","startTime":502.027,"endTime":506.987,"body":"That's because I believe that if the"},{"speaker":"Perry Zheng","startTime":502.027,"endTime":506.987,"body":"dude didn't do well, that there's"},{"speaker":"Perry Zheng","startTime":506.987,"endTime":508.577,"body":"no next team there's, that's it."},{"speaker":"Perry Zheng","startTime":509.417,"endTime":510.227,"body":"That is my belief."},{"speaker":"Average Joe Finances","startTime":510.617,"endTime":511.367,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":511.367,"endTime":514.097,"body":"So you take a lot of a sense of"},{"speaker":"Average Joe Finances","startTime":511.367,"endTime":514.097,"body":"ownership when you go into this."},{"speaker":"Average Joe Finances","startTime":514.097,"endTime":516.857,"body":"And so now that first one that's"},{"speaker":"Average Joe Finances","startTime":514.097,"endTime":516.857,"body":"seven units, that was just basically"},{"speaker":"Average Joe Finances","startTime":516.857,"endTime":518.357,"body":"a JV between you and your partner."},{"speaker":"Average Joe Finances","startTime":518.357,"endTime":521.507,"body":"The two of you came up with the"},{"speaker":"Average Joe Finances","startTime":518.357,"endTime":521.507,"body":"money took this took this down."},{"speaker":"Average Joe Finances","startTime":521.567,"endTime":525.457,"body":"And from there, you said you sold"},{"speaker":"Average Joe Finances","startTime":521.567,"endTime":525.457,"body":"it for 900 K 18 months later."},{"speaker":"Average Joe Finances","startTime":525.457,"endTime":525.577,"body":"That's."},{"speaker":"Average Joe Finances","startTime":526.207,"endTime":528.067,"body":"Pretty good turn and"},{"speaker":"Average Joe Finances","startTime":526.207,"endTime":528.067,"body":"just a year and a half."},{"speaker":"Average Joe Finances","startTime":528.117,"endTime":530.967,"body":"Well done, you got your money"},{"speaker":"Average Joe Finances","startTime":528.117,"endTime":530.967,"body":"back and then some gave you a lot"},{"speaker":"Average Joe Finances","startTime":530.967,"endTime":534.037,"body":"of equity to play with there to"},{"speaker":"Average Joe Finances","startTime":530.967,"endTime":534.037,"body":"start looking at something else."},{"speaker":"Average Joe Finances","startTime":534.087,"endTime":538.107,"body":"What made you guys decide to look"},{"speaker":"Average Joe Finances","startTime":534.087,"endTime":538.107,"body":"at in the Dallas and DFW area?"},{"speaker":"Perry Zheng","startTime":539.067,"endTime":539.427,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":539.457,"endTime":540.087,"body":"Good question."},{"speaker":"Perry Zheng","startTime":540.327,"endTime":544.887,"body":"So one of the common questions that"},{"speaker":"Perry Zheng","startTime":540.327,"endTime":544.887,"body":"people ask when they got know into"},{"speaker":"Perry Zheng","startTime":544.887,"endTime":547.107,"body":"syndication is what area do I focus on?"},{"speaker":"Perry Zheng","startTime":548.687,"endTime":552.257,"body":"And my answer to that is it"},{"speaker":"Perry Zheng","startTime":548.687,"endTime":552.257,"body":"depends on what you want."},{"speaker":"Perry Zheng","startTime":553.097,"endTime":556.727,"body":"There are people who want a little bit"},{"speaker":"Perry Zheng","startTime":553.097,"endTime":556.727,"body":"of every market and there are people"},{"speaker":"Perry Zheng","startTime":556.727,"endTime":559.367,"body":"like me who wants everything of a market."},{"speaker":"Perry Zheng","startTime":559.707,"endTime":564.567,"body":"What I mean by that is we looked at"},{"speaker":"Perry Zheng","startTime":559.707,"endTime":564.567,"body":"Cincinnati, look at Lexington, Kentucky,"},{"speaker":"Perry Zheng","startTime":564.567,"endTime":566.487,"body":"and look at the Midwest and the Southeast."},{"speaker":"Perry Zheng","startTime":566.817,"endTime":569.757,"body":"And it felt like south east"},{"speaker":"Perry Zheng","startTime":566.817,"endTime":569.757,"body":"is too far from Seattle."},{"speaker":"Perry Zheng","startTime":570.117,"endTime":570.807,"body":"The Midwest."},{"speaker":"Perry Zheng","startTime":571.332,"endTime":575.382,"body":"Is dominated by institutional"},{"speaker":"Perry Zheng","startTime":571.332,"endTime":575.382,"body":"investors of people who have"},{"speaker":"Perry Zheng","startTime":575.382,"endTime":576.702,"body":"been indicated for a long time."},{"speaker":"Perry Zheng","startTime":576.732,"endTime":580.242,"body":"So things were so privately"},{"speaker":"Perry Zheng","startTime":576.732,"endTime":580.242,"body":"under market off market, sorry."},{"speaker":"Perry Zheng","startTime":580.632,"endTime":584.352,"body":"And then where our status is like"},{"speaker":"Perry Zheng","startTime":580.632,"endTime":584.352,"body":"the best in terms of transparency,"},{"speaker":"Perry Zheng","startTime":584.502,"endTime":586.212,"body":"as well as the deal flow."},{"speaker":"Perry Zheng","startTime":586.472,"endTime":588.842,"body":"Every day you see a deal come online."},{"speaker":"Perry Zheng","startTime":589.112,"endTime":592.172,"body":"Whereas this is data you for"},{"speaker":"Perry Zheng","startTime":589.112,"endTime":592.172,"body":"wait for week before you see any"},{"speaker":"Perry Zheng","startTime":592.172,"endTime":593.492,"body":"deal that's like on the market."},{"speaker":"Perry Zheng","startTime":593.762,"endTime":594.962,"body":"So that's a big part of it."},{"speaker":"Perry Zheng","startTime":595.382,"endTime":596.522,"body":"And the fact that."},{"speaker":"Perry Zheng","startTime":597.267,"endTime":603.097,"body":"Coaching program is Dallas helps that that"},{"speaker":"Perry Zheng","startTime":597.267,"endTime":603.097,"body":"every vendor that we need is in Dallas."},{"speaker":"Perry Zheng","startTime":603.277,"endTime":606.697,"body":"And so as air was there for some"},{"speaker":"Perry Zheng","startTime":603.277,"endTime":606.697,"body":"time, you start building up that"},{"speaker":"Perry Zheng","startTime":606.697,"endTime":608.857,"body":"relationship with every vendor, right?"},{"speaker":"Perry Zheng","startTime":608.967,"endTime":610.227,"body":"Is Dallas the best market?"},{"speaker":"Perry Zheng","startTime":610.812,"endTime":615.342,"body":"It is probably one of the most competitive"},{"speaker":"Perry Zheng","startTime":610.812,"endTime":615.342,"body":"market for multi-family, but is that the"},{"speaker":"Perry Zheng","startTime":615.342,"endTime":620.382,"body":"market that we have the most competitive"},{"speaker":"Perry Zheng","startTime":615.342,"endTime":620.382,"body":"advantage in terms of whom we know what"},{"speaker":"Perry Zheng","startTime":620.382,"endTime":622.572,"body":"we know as well as the neighborhoods?"},{"speaker":"Perry Zheng","startTime":622.632,"endTime":623.082,"body":"Yes."},{"speaker":"Perry Zheng","startTime":623.232,"endTime":627.372,"body":"So my goal is to build up more"},{"speaker":"Perry Zheng","startTime":623.232,"endTime":627.372,"body":"than a thousand units in Dallas."},{"speaker":"Perry Zheng","startTime":627.552,"endTime":632.132,"body":"So I can, have leverage to either create"},{"speaker":"Perry Zheng","startTime":627.552,"endTime":632.132,"body":"my own property management company"},{"speaker":"Perry Zheng","startTime":632.372,"endTime":637.822,"body":"or leverage someone so that we can JV"},{"speaker":"Perry Zheng","startTime":632.372,"endTime":637.822,"body":"on a, probably mentioned a company."},{"speaker":"Perry Zheng","startTime":637.922,"endTime":638.232,"body":"Because."},{"speaker":"Perry Zheng","startTime":638.767,"endTime":642.787,"body":"The most important part of"},{"speaker":"Perry Zheng","startTime":638.767,"endTime":642.787,"body":"multifamily is creating is controlling"},{"speaker":"Perry Zheng","startTime":642.787,"endTime":644.647,"body":"for the quality of the assets."},{"speaker":"Average Joe Finances","startTime":645.307,"endTime":645.517,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":645.787,"endTime":645.997,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":646.027,"endTime":646.567,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":646.567,"endTime":647.287,"body":"That's a great point."},{"speaker":"Average Joe Finances","startTime":647.527,"endTime":649.307,"body":"And you're a little"},{"speaker":"Average Joe Finances","startTime":647.527,"endTime":649.307,"body":"more than halfway there."},{"speaker":"Average Joe Finances","startTime":649.307,"endTime":652.107,"body":"You got a 580 units now"},{"speaker":"Average Joe Finances","startTime":649.307,"endTime":652.107,"body":"you're getting close."},{"speaker":"Average Joe Finances","startTime":652.487,"endTime":652.717,"body":"So"},{"speaker":"Perry Zheng","startTime":652.717,"endTime":655.117,"body":"we, yeah that,"},{"speaker":"Perry Zheng","startTime":652.717,"endTime":655.117,"body":"thank you for saying that."},{"speaker":"Perry Zheng","startTime":655.627,"endTime":659.787,"body":"I'm happy to report that since the"},{"speaker":"Perry Zheng","startTime":655.627,"endTime":659.787,"body":"last time we w I fell off that form."},{"speaker":"Perry Zheng","startTime":659.997,"endTime":662.757,"body":"We actually at 800 units, 840 units."},{"speaker":"Perry Zheng","startTime":662.967,"endTime":663.627,"body":"That's great."},{"speaker":"Perry Zheng","startTime":663.877,"endTime":667.597,"body":"But we are selling the first property,"},{"speaker":"Perry Zheng","startTime":663.877,"endTime":667.597,"body":"so we backed down to 500 plus units."},{"speaker":"Average Joe Finances","startTime":669.637,"endTime":670.597,"body":"That's"},{"speaker":"Average Joe Finances","startTime":669.637,"endTime":670.597,"body":"not a bad thing, though."},{"speaker":"Average Joe Finances","startTime":670.627,"endTime":671.557,"body":"That's not a bad thing."},{"speaker":"Average Joe Finances","startTime":671.557,"endTime":672.677,"body":"That one's coming full circle."},{"speaker":"Average Joe Finances","startTime":672.677,"endTime":673.127,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":673.667,"endTime":676.337,"body":"All so now I have to ask you this,"},{"speaker":"Average Joe Finances","startTime":673.667,"endTime":676.337,"body":"because a lot of people that listened"},{"speaker":"Average Joe Finances","startTime":676.337,"endTime":680.417,"body":"to this show, they, they're, full-time"},{"speaker":"Average Joe Finances","startTime":676.337,"endTime":680.417,"body":"working professionals and they're, on"},{"speaker":"Average Joe Finances","startTime":680.417,"endTime":683.747,"body":"their journey to getting out of debt"},{"speaker":"Average Joe Finances","startTime":680.417,"endTime":683.747,"body":"and they want to invest in, and a lot"},{"speaker":"Average Joe Finances","startTime":683.747,"endTime":687.647,"body":"of them are looking at real estate now"},{"speaker":"Average Joe Finances","startTime":683.747,"endTime":687.647,"body":"as an option right now, you did this"},{"speaker":"Average Joe Finances","startTime":687.647,"endTime":689.717,"body":"while you were working full time, right?"},{"speaker":"Average Joe Finances","startTime":689.717,"endTime":695.117,"body":"So you were at Twitter and then Amazon"},{"speaker":"Average Joe Finances","startTime":689.717,"endTime":695.117,"body":"and most recently at Lyft until not"},{"speaker":"Average Joe Finances","startTime":695.117,"endTime":699.587,"body":"too long ago, how did you Get yourself"},{"speaker":"Average Joe Finances","startTime":695.117,"endTime":699.587,"body":"to a point where you were able to"},{"speaker":"Average Joe Finances","startTime":699.587,"endTime":704.117,"body":"have the free time to put into this,"},{"speaker":"Average Joe Finances","startTime":699.587,"endTime":704.117,"body":"especially going in as a lead syndicator."},{"speaker":"Average Joe Finances","startTime":704.127,"endTime":708.507,"body":"So like right now, for me personally,"},{"speaker":"Average Joe Finances","startTime":704.127,"endTime":708.507,"body":"like being full time I just got"},{"speaker":"Average Joe Finances","startTime":708.507,"endTime":711.857,"body":"to my first indication recently"},{"speaker":"Average Joe Finances","startTime":708.507,"endTime":711.857,"body":"and it's as a limited partner."},{"speaker":"Average Joe Finances","startTime":712.067,"endTime":715.667,"body":"Cause I don't feel like I have"},{"speaker":"Average Joe Finances","startTime":712.067,"endTime":715.667,"body":"the time to try to put into that."},{"speaker":"Average Joe Finances","startTime":715.667,"endTime":719.657,"body":"So how did you piece this together"},{"speaker":"Average Joe Finances","startTime":715.667,"endTime":719.657,"body":"while being a full-time employee?"},{"speaker":"Perry Zheng","startTime":720.437,"endTime":720.827,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":720.857,"endTime":721.607,"body":"Great question."},{"speaker":"Perry Zheng","startTime":722.027,"endTime":725.267,"body":"I don't really have a"},{"speaker":"Perry Zheng","startTime":722.027,"endTime":725.267,"body":"perfect answer in my opinion."},{"speaker":"Perry Zheng","startTime":725.867,"endTime":729.847,"body":"I think it's a combination of who you are"},{"speaker":"Perry Zheng","startTime":725.867,"endTime":729.847,"body":"as a person, your personality, your grit."},{"speaker":"Perry Zheng","startTime":730.267,"endTime":734.077,"body":"I know when I was growing up, I"},{"speaker":"Perry Zheng","startTime":730.267,"endTime":734.077,"body":"don't really need to listen to,"},{"speaker":"Perry Zheng","startTime":734.107,"endTime":738.027,"body":"like motivational speeches in a way,"},{"speaker":"Perry Zheng","startTime":734.107,"endTime":738.027,"body":"because I'm very internally driven."},{"speaker":"Perry Zheng","startTime":738.267,"endTime":740.927,"body":"And so that could, you could"},{"speaker":"Perry Zheng","startTime":738.267,"endTime":740.927,"body":"argue that could be, Innate."},{"speaker":"Perry Zheng","startTime":740.957,"endTime":744.477,"body":"So I have that and that might"},{"speaker":"Perry Zheng","startTime":740.957,"endTime":744.477,"body":"be the result of a lot of"},{"speaker":"Perry Zheng","startTime":744.537,"endTime":746.697,"body":"micro, positive reinforcements."},{"speaker":"Perry Zheng","startTime":746.697,"endTime":751.197,"body":"When I was a kid, when I was growing"},{"speaker":"Perry Zheng","startTime":746.697,"endTime":751.197,"body":"up, I was usually the top of my class."},{"speaker":"Perry Zheng","startTime":751.447,"endTime":756.097,"body":"So on to, I got into college and"},{"speaker":"Perry Zheng","startTime":751.447,"endTime":756.097,"body":"then I realized I was not the in"},{"speaker":"Perry Zheng","startTime":756.097,"endTime":759.007,"body":"high school already realized I was"},{"speaker":"Perry Zheng","startTime":756.097,"endTime":759.007,"body":"not one of the smartest people."},{"speaker":"Perry Zheng","startTime":759.257,"endTime":759.797,"body":"So there's that."},{"speaker":"Perry Zheng","startTime":760.302,"endTime":765.962,"body":"And then when I was doing well at live"},{"speaker":"Perry Zheng","startTime":760.302,"endTime":765.962,"body":"I think my mentors and my managers"},{"speaker":"Perry Zheng","startTime":765.962,"endTime":770.792,"body":"really thought that I was good and"},{"speaker":"Perry Zheng","startTime":765.962,"endTime":770.792,"body":"that really helped me believe in"},{"speaker":"Perry Zheng","startTime":770.792,"endTime":775.022,"body":"something or they believe in me believe"},{"speaker":"Perry Zheng","startTime":770.792,"endTime":775.022,"body":"before I believe in myself in a way."},{"speaker":"Perry Zheng","startTime":775.362,"endTime":776.142,"body":"So that helped."},{"speaker":"Perry Zheng","startTime":776.562,"endTime":780.342,"body":"So going back to your question, how"},{"speaker":"Perry Zheng","startTime":776.562,"endTime":780.342,"body":"do I allocate or divide my time?"},{"speaker":"Perry Zheng","startTime":780.792,"endTime":782.502,"body":"I don't really think of it like that."},{"speaker":"Perry Zheng","startTime":782.812,"endTime":787.252,"body":"I felt like if you passionate about"},{"speaker":"Perry Zheng","startTime":782.812,"endTime":787.252,"body":"real estate, you subconsciously"},{"speaker":"Perry Zheng","startTime":787.312,"endTime":788.692,"body":"unconsciously think about it."},{"speaker":"Perry Zheng","startTime":788.962,"endTime":790.432,"body":"You think about when you drive it."},{"speaker":"Perry Zheng","startTime":791.042,"endTime":796.502,"body":"A classic example was people were"},{"speaker":"Perry Zheng","startTime":791.042,"endTime":796.502,"body":"asking me how much they They will be"},{"speaker":"Perry Zheng","startTime":796.502,"endTime":801.722,"body":"getting back on their property texts"},{"speaker":"Perry Zheng","startTime":796.502,"endTime":801.722,"body":"or their interest rate tax rebate."},{"speaker":"Perry Zheng","startTime":802.262,"endTime":806.942,"body":"And I did the math, you should put on"},{"speaker":"Perry Zheng","startTime":802.262,"endTime":806.942,"body":"20%, so that, that coverage is 80%."},{"speaker":"Perry Zheng","startTime":807.272,"endTime":813.242,"body":"And you're say you're high income"},{"speaker":"Perry Zheng","startTime":807.272,"endTime":813.242,"body":"earners is 30%, 33%, tax rate."},{"speaker":"Perry Zheng","startTime":813.362,"endTime":817.142,"body":"So 30% times 80% it's about 24, 20 5%."},{"speaker":"Perry Zheng","startTime":817.472,"endTime":819.812,"body":"So by telling you how much a purchase."},{"speaker":"Perry Zheng","startTime":820.897,"endTime":824.287,"body":"In my mind, I can do the math and"},{"speaker":"Perry Zheng","startTime":820.897,"endTime":824.287,"body":"tell you how much money you should"},{"speaker":"Perry Zheng","startTime":824.287,"endTime":826.267,"body":"get back in terms of tax rebate."},{"speaker":"Perry Zheng","startTime":826.597,"endTime":829.807,"body":"And whenever people heard that, they're"},{"speaker":"Perry Zheng","startTime":826.597,"endTime":829.807,"body":"like, oh my God, how do you notice?"},{"speaker":"Perry Zheng","startTime":829.927,"endTime":832.147,"body":"I'm like, yeah, I think"},{"speaker":"Perry Zheng","startTime":829.927,"endTime":832.147,"body":"about that while I'm driving."},{"speaker":"Perry Zheng","startTime":832.417,"endTime":836.497,"body":"And that cert does not take you to"},{"speaker":"Perry Zheng","startTime":832.417,"endTime":836.497,"body":"divide out the time to do X, Y, Z."},{"speaker":"Perry Zheng","startTime":836.617,"endTime":837.607,"body":"You just think about it."},{"speaker":"Perry Zheng","startTime":837.907,"endTime":838.207,"body":"Okay."},{"speaker":"Perry Zheng","startTime":838.267,"endTime":843.547,"body":"So that's why, it's just like, if you"},{"speaker":"Perry Zheng","startTime":838.267,"endTime":843.547,"body":"obsess about something, you think about it"},{"speaker":"Perry Zheng","startTime":843.547,"endTime":845.857,"body":"every day or every like parts of the day."},{"speaker":"Perry Zheng","startTime":846.147,"endTime":846.537,"body":"And second."},{"speaker":"Perry Zheng","startTime":848.082,"endTime":852.272,"body":"It will be a really bad idea in my"},{"speaker":"Perry Zheng","startTime":848.082,"endTime":852.272,"body":"opinion, that people quit their w two"},{"speaker":"Perry Zheng","startTime":852.312,"endTime":857.262,"body":"job to focus on real estate full-time"},{"speaker":"Perry Zheng","startTime":852.312,"endTime":857.262,"body":"before they're seeing that momentum."},{"speaker":"Perry Zheng","startTime":857.712,"endTime":862.572,"body":"Because number one, if you're not"},{"speaker":"Perry Zheng","startTime":857.712,"endTime":862.572,"body":"passionate about it in two, to do"},{"speaker":"Perry Zheng","startTime":862.572,"endTime":866.142,"body":"it while having a w two job, then"},{"speaker":"Perry Zheng","startTime":862.572,"endTime":866.142,"body":"you probably not passionate about"},{"speaker":"Perry Zheng","startTime":866.142,"endTime":871.302,"body":"enough and you are not going to find"},{"speaker":"Perry Zheng","startTime":866.142,"endTime":871.302,"body":"something fulfilling and rewarding."},{"speaker":"Perry Zheng","startTime":871.842,"endTime":875.902,"body":"By using it as a escape from something"},{"speaker":"Perry Zheng","startTime":871.842,"endTime":875.902,"body":"you don't like, that's my opinion."},{"speaker":"Perry Zheng","startTime":876.182,"endTime":880.582,"body":"So let's also there's that so"},{"speaker":"Perry Zheng","startTime":876.182,"endTime":880.582,"body":"show that you're good at it."},{"speaker":"Perry Zheng","startTime":880.612,"endTime":884.272,"body":"Get at least one rental or a couple"},{"speaker":"Perry Zheng","startTime":880.612,"endTime":884.272,"body":"of duplexes or whatnot, and then say,"},{"speaker":"Perry Zheng","startTime":884.302,"endTime":887.902,"body":"okay, I have proven that I can do this."},{"speaker":"Perry Zheng","startTime":888.112,"endTime":892.762,"body":"And now if I do more of it, this is"},{"speaker":"Perry Zheng","startTime":888.112,"endTime":892.762,"body":"going to eventually replace my W2 income."},{"speaker":"Perry Zheng","startTime":892.952,"endTime":895.862,"body":"That's real estate and kind of"},{"speaker":"Perry Zheng","startTime":892.952,"endTime":895.862,"body":"the same thing with my startup."},{"speaker":"Perry Zheng","startTime":896.727,"endTime":902.607,"body":"No, I think in your case, there is a point"},{"speaker":"Perry Zheng","startTime":896.727,"endTime":902.607,"body":"in which physically you just do not have"},{"speaker":"Perry Zheng","startTime":902.607,"endTime":905.397,"body":"enough time for the last year and a half."},{"speaker":"Perry Zheng","startTime":905.457,"endTime":907.107,"body":"I was basically doing three jobs."},{"speaker":"Perry Zheng","startTime":907.167,"endTime":908.607,"body":"I was an engineering manager."},{"speaker":"Perry Zheng","startTime":908.637,"endTime":912.567,"body":"I live, I was doing two syndications"},{"speaker":"Perry Zheng","startTime":908.637,"endTime":912.567,"body":"while having a full-time job."},{"speaker":"Perry Zheng","startTime":912.987,"endTime":914.547,"body":"And then I have my startup."},{"speaker":"Perry Zheng","startTime":914.927,"endTime":915.887,"body":"I could say."},{"speaker":"Perry Zheng","startTime":916.527,"endTime":920.007,"body":"You can do real estate syndication"},{"speaker":"Perry Zheng","startTime":916.527,"endTime":920.007,"body":"while having a full-time job."},{"speaker":"Perry Zheng","startTime":920.307,"endTime":923.447,"body":"But I was burning out doing a"},{"speaker":"Perry Zheng","startTime":920.307,"endTime":923.447,"body":"startup while having a full-time"},{"speaker":"Perry Zheng","startTime":923.447,"endTime":924.497,"body":"job and this indication."},{"speaker":"Perry Zheng","startTime":924.767,"endTime":926.807,"body":"And so I think it's 10 times harder."},{"speaker":"Perry Zheng","startTime":927.037,"endTime":930.217,"body":"And so I didn't need to"},{"speaker":"Perry Zheng","startTime":927.037,"endTime":930.217,"body":"quit at some point yeah."},{"speaker":"Perry Zheng","startTime":930.367,"endTime":931.237,"body":"I don't know."},{"speaker":"Perry Zheng","startTime":931.237,"endTime":932.727,"body":"I'm happy to answer them."},{"speaker":"Average Joe Finances","startTime":933.957,"endTime":935.217,"body":"Yeah, no, that's fantastic."},{"speaker":"Average Joe Finances","startTime":935.247,"endTime":938.207,"body":"All great points too, cause it was"},{"speaker":"Average Joe Finances","startTime":935.247,"endTime":938.207,"body":"something that one of the things"},{"speaker":"Average Joe Finances","startTime":938.207,"endTime":941.757,"body":"I wrote down here, the most recent"},{"speaker":"Average Joe Finances","startTime":938.207,"endTime":941.757,"body":"one is how you subconsciously"},{"speaker":"Average Joe Finances","startTime":941.817,"endTime":943.437,"body":"would think about real estate."},{"speaker":"Average Joe Finances","startTime":943.437,"endTime":946.417,"body":"And even to the point where you"},{"speaker":"Average Joe Finances","startTime":943.437,"endTime":946.417,"body":"can do this napkin math in your"},{"speaker":"Average Joe Finances","startTime":946.417,"endTime":950.157,"body":"head, that, They've got questions"},{"speaker":"Average Joe Finances","startTime":946.417,"endTime":950.157,"body":"about going in on a deal with you."},{"speaker":"Average Joe Finances","startTime":950.157,"endTime":951.597,"body":"And you're just like,"},{"speaker":"Average Joe Finances","startTime":950.157,"endTime":951.597,"body":"Hey, give me a second."},{"speaker":"Average Joe Finances","startTime":951.597,"endTime":952.857,"body":"Let me put it into the calculator here."},{"speaker":"Average Joe Finances","startTime":952.857,"endTime":953.167,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":953.167,"endTime":955.587,"body":"You're going to get this much back"},{"speaker":"Average Joe Finances","startTime":953.167,"endTime":955.587,"body":"for your tax return, all that."},{"speaker":"Average Joe Finances","startTime":955.607,"endTime":956.317,"body":"That's amazing."},{"speaker":"Average Joe Finances","startTime":956.317,"endTime":959.207,"body":"And like, and that just, that's"},{"speaker":"Average Joe Finances","startTime":956.317,"endTime":959.207,"body":"a Testament of the hard work and"},{"speaker":"Average Joe Finances","startTime":959.207,"endTime":960.557,"body":"effort that you've put into it."},{"speaker":"Average Joe Finances","startTime":960.557,"endTime":962.777,"body":"That you're at the point where"},{"speaker":"Average Joe Finances","startTime":960.557,"endTime":962.777,"body":"you can just spit this stuff out."},{"speaker":"Average Joe Finances","startTime":962.807,"endTime":963.467,"body":"That's amazing."},{"speaker":"Average Joe Finances","startTime":964.872,"endTime":968.052,"body":"But I want to point some things out that"},{"speaker":"Average Joe Finances","startTime":964.872,"endTime":968.052,"body":"really stick out to me and I think is"},{"speaker":"Average Joe Finances","startTime":968.172,"endTime":972.982,"body":"absolutely awesome where you're talking"},{"speaker":"Average Joe Finances","startTime":968.172,"endTime":972.982,"body":"about how even since your childhood,"},{"speaker":"Average Joe Finances","startTime":973.032,"endTime":976.332,"body":"there's something that you mentioned,"},{"speaker":"Average Joe Finances","startTime":973.032,"endTime":976.332,"body":"it was micro, positive reinforcements"},{"speaker":"Average Joe Finances","startTime":976.382,"endTime":980.672,"body":"as a child, that got you to this point"},{"speaker":"Average Joe Finances","startTime":976.382,"endTime":980.672,"body":"where, it always helped you give you"},{"speaker":"Average Joe Finances","startTime":980.672,"endTime":982.292,"body":"that inner motivation in that post."},{"speaker":"Average Joe Finances","startTime":982.977,"endTime":983.907,"body":"To keep doing that."},{"speaker":"Average Joe Finances","startTime":983.907,"endTime":985.467,"body":"You were inspired as a kid."},{"speaker":"Average Joe Finances","startTime":985.827,"endTime":988.047,"body":"And I think that's important"},{"speaker":"Average Joe Finances","startTime":985.827,"endTime":988.047,"body":"for anybody that's listening."},{"speaker":"Average Joe Finances","startTime":988.047,"endTime":993.357,"body":"Who's a parent right now that,"},{"speaker":"Average Joe Finances","startTime":988.047,"endTime":993.357,"body":"instill that mindset into your"},{"speaker":"Average Joe Finances","startTime":993.357,"endTime":997.847,"body":"children, instill that motivation"},{"speaker":"Average Joe Finances","startTime":993.357,"endTime":997.847,"body":"lift them up and be positive because."},{"speaker":"Average Joe Finances","startTime":998.492,"endTime":1002.572,"body":"What Perry's doing here is a perfect"},{"speaker":"Average Joe Finances","startTime":998.492,"endTime":1002.572,"body":"example of being raised in a positive"},{"speaker":"Average Joe Finances","startTime":1002.572,"endTime":1008.382,"body":"household where he was able to get this"},{"speaker":"Average Joe Finances","startTime":1002.572,"endTime":1008.382,"body":"subconscious subconsciously just in the"},{"speaker":"Average Joe Finances","startTime":1008.382,"endTime":1012.252,"body":"back of his head, this motivation, this"},{"speaker":"Average Joe Finances","startTime":1008.382,"endTime":1012.252,"body":"innate motivation that's always there."},{"speaker":"Average Joe Finances","startTime":1012.252,"endTime":1013.652,"body":"So that's really wonderful to hear."},{"speaker":"Average Joe Finances","startTime":1014.872,"endTime":1016.102,"body":"I had to write that down."},{"speaker":"Average Joe Finances","startTime":1016.132,"endTime":1019.442,"body":"I had to write that down because, I"},{"speaker":"Average Joe Finances","startTime":1016.132,"endTime":1019.442,"body":"have two young daughters and that's"},{"speaker":"Average Joe Finances","startTime":1019.442,"endTime":1022.802,"body":"one of the things that, that I try"},{"speaker":"Average Joe Finances","startTime":1019.442,"endTime":1022.802,"body":"to focus on with them is just their"},{"speaker":"Average Joe Finances","startTime":1023.042,"endTime":1026.612,"body":"whole thought process when it comes"},{"speaker":"Average Joe Finances","startTime":1023.042,"endTime":1026.612,"body":"to money, what to do with money, how"},{"speaker":"Average Joe Finances","startTime":1026.612,"endTime":1030.422,"body":"to invest and financial education, I"},{"speaker":"Average Joe Finances","startTime":1026.612,"endTime":1030.422,"body":"think is something that's we really"},{"speaker":"Average Joe Finances","startTime":1030.422,"endTime":1032.582,"body":"lack in the public education system."},{"speaker":"Average Joe Finances","startTime":1032.632,"endTime":1034.622,"body":"Being that, we homeschool our kids."},{"speaker":"Average Joe Finances","startTime":1034.992,"endTime":1037.662,"body":"That's part of the curriculum"},{"speaker":"Average Joe Finances","startTime":1034.992,"endTime":1037.662,"body":"is financial education."},{"speaker":"Average Joe Finances","startTime":1037.712,"endTime":1038.982,"body":"I think that's fantastic."},{"speaker":"Average Joe Finances","startTime":1038.982,"endTime":1041.092,"body":"I, and I really loved hearing"},{"speaker":"Average Joe Finances","startTime":1038.982,"endTime":1041.092,"body":"that part of your story."},{"speaker":"Average Joe Finances","startTime":1041.092,"endTime":1042.182,"body":"That's absolutely amazing."},{"speaker":"Average Joe Finances","startTime":1042.542,"endTime":1046.642,"body":"Now you mentioned this your startup and"},{"speaker":"Average Joe Finances","startTime":1042.542,"endTime":1046.642,"body":"I want to talk about your startup, right?"},{"speaker":"Average Joe Finances","startTime":1047.962,"endTime":1048.412,"body":"There."},{"speaker":"Average Joe Finances","startTime":1048.922,"endTime":1051.472,"body":"So you started this startup,"},{"speaker":"Average Joe Finances","startTime":1048.922,"endTime":1051.472,"body":"it's called the cashflow"},{"speaker":"Average Joe Finances","startTime":1051.472,"endTime":1054.982,"body":"portal right now, besides that."},{"speaker":"Average Joe Finances","startTime":1054.982,"endTime":1056.992,"body":"Cause I know you're like a tech"},{"speaker":"Average Joe Finances","startTime":1054.982,"endTime":1056.992,"body":"junkie and this is one of the"},{"speaker":"Average Joe Finances","startTime":1056.992,"endTime":1060.622,"body":"things I'm excited to talk to you"},{"speaker":"Average Joe Finances","startTime":1056.992,"endTime":1060.622,"body":"about now, the cashflow portal."},{"speaker":"Average Joe Finances","startTime":1060.842,"endTime":1063.572,"body":"What exactly is the cashflow portal?"},{"speaker":"Average Joe Finances","startTime":1063.572,"endTime":1067.202,"body":"Can you describe it and how"},{"speaker":"Average Joe Finances","startTime":1063.572,"endTime":1067.202,"body":"would somebody who's an investor"},{"speaker":"Average Joe Finances","startTime":1067.442,"endTime":1069.002,"body":"or has a real estate business?"},{"speaker":"Average Joe Finances","startTime":1069.002,"endTime":1071.272,"body":"How would they benefit from"},{"speaker":"Average Joe Finances","startTime":1069.002,"endTime":1071.272,"body":"checking out the cashflow?"},{"speaker":"Perry Zheng","startTime":1072.692,"endTime":1073.322,"body":"Good question."},{"speaker":"Perry Zheng","startTime":1073.412,"endTime":1079.952,"body":"So cash flow portal is a real estate"},{"speaker":"Perry Zheng","startTime":1073.412,"endTime":1079.952,"body":"syndication software that helps streamline"},{"speaker":"Perry Zheng","startTime":1080.042,"endTime":1084.692,"body":"equity raising helps syndicators"},{"speaker":"Perry Zheng","startTime":1080.042,"endTime":1084.692,"body":"reach out to investors as well as"},{"speaker":"Perry Zheng","startTime":1084.692,"endTime":1089.972,"body":"given a source of truth of a system of"},{"speaker":"Perry Zheng","startTime":1084.692,"endTime":1089.972,"body":"record for all the passive investors."},{"speaker":"Perry Zheng","startTime":1090.242,"endTime":1095.102,"body":"So if you are a passive investor,"},{"speaker":"Perry Zheng","startTime":1090.242,"endTime":1095.102,"body":"traditionally, you will get a DocuSign"},{"speaker":"Perry Zheng","startTime":1095.132,"endTime":1097.122,"body":"to sign all your documents in an email."},{"speaker":"Perry Zheng","startTime":1097.187,"endTime":1101.417,"body":"And then once you sign the, you"},{"speaker":"Perry Zheng","startTime":1097.187,"endTime":1101.417,"body":"will receive monthly emails from"},{"speaker":"Perry Zheng","startTime":1101.417,"endTime":1105.617,"body":"your syndicator, the performance"},{"speaker":"Perry Zheng","startTime":1101.417,"endTime":1105.617,"body":"of that deal or of that fund."},{"speaker":"Perry Zheng","startTime":1106.007,"endTime":1110.507,"body":"And then you will ask your syndicator once"},{"speaker":"Perry Zheng","startTime":1106.007,"endTime":1110.507,"body":"in a while on how the property is doing."},{"speaker":"Perry Zheng","startTime":1110.627,"endTime":1113.237,"body":"Say you invest 50,000,"},{"speaker":"Perry Zheng","startTime":1110.627,"endTime":1113.237,"body":"how much is that really?"},{"speaker":"Perry Zheng","startTime":1113.237,"endTime":1114.407,"body":"$50,000 worth."},{"speaker":"Perry Zheng","startTime":1114.827,"endTime":1119.202,"body":"And then when it comes to tax returns,"},{"speaker":"Perry Zheng","startTime":1114.827,"endTime":1119.202,"body":"You your syndicator, my QBO I'll call to"},{"speaker":"Perry Zheng","startTime":1119.292,"endTime":1123.572,"body":"write down your social security number so"},{"speaker":"Perry Zheng","startTime":1119.292,"endTime":1123.572,"body":"that they can file the K1s on your behalf."},{"speaker":"Perry Zheng","startTime":1123.642,"endTime":1125.982,"body":"And I give you a piece of K1"},{"speaker":"Perry Zheng","startTime":1123.642,"endTime":1125.982,"body":"and they'll send it to you."},{"speaker":"Perry Zheng","startTime":1126.582,"endTime":1131.422,"body":"That whole logistics seems very"},{"speaker":"Perry Zheng","startTime":1126.582,"endTime":1131.422,"body":"scattered, fragmented, and a little bit"},{"speaker":"Perry Zheng","startTime":1131.532,"endTime":1133.272,"body":"kind of mom and pop, not professional."},{"speaker":"Perry Zheng","startTime":1133.302,"endTime":1134.322,"body":"That's not how you do it."},{"speaker":"Perry Zheng","startTime":1134.322,"endTime":1136.512,"body":"When you invest 50 K in the stock market."},{"speaker":"Perry Zheng","startTime":1137.202,"endTime":1141.862,"body":"Now the value for the syndicator"},{"speaker":"Perry Zheng","startTime":1137.202,"endTime":1141.862,"body":"is I am trying to raise $4"},{"speaker":"Perry Zheng","startTime":1141.862,"endTime":1144.262,"body":"million from say 70 investors."},{"speaker":"Perry Zheng","startTime":1144.572,"endTime":1148.762,"body":"I need to send out 70 DocuSigns"},{"speaker":"Perry Zheng","startTime":1144.572,"endTime":1148.762,"body":"that I get back the DocuSign."},{"speaker":"Perry Zheng","startTime":1148.972,"endTime":1149.902,"body":"Countersign it."},{"speaker":"Perry Zheng","startTime":1150.172,"endTime":1151.462,"body":"Put the name on my spreadsheet."},{"speaker":"Perry Zheng","startTime":1151.977,"endTime":1156.837,"body":"Didn't know how much they invested"},{"speaker":"Perry Zheng","startTime":1151.977,"endTime":1156.837,"body":"every three months I write down how much"},{"speaker":"Perry Zheng","startTime":1156.867,"endTime":1159.267,"body":"each person has gotten distributions."},{"speaker":"Perry Zheng","startTime":1159.567,"endTime":1161.667,"body":"And then I send out the"},{"speaker":"Perry Zheng","startTime":1159.567,"endTime":1161.667,"body":"emails through MailChimp."},{"speaker":"Perry Zheng","startTime":1161.967,"endTime":1164.917,"body":"And then and then at the end"},{"speaker":"Perry Zheng","startTime":1161.967,"endTime":1164.917,"body":"of the year, I need to report"},{"speaker":"Perry Zheng","startTime":1164.947,"endTime":1166.137,"body":"everyone's bank statements."},{"speaker":"Perry Zheng","startTime":1166.137,"endTime":1170.267,"body":"So I know their ACH as well as their"},{"speaker":"Perry Zheng","startTime":1166.137,"endTime":1170.267,"body":"social security to file the taxas."},{"speaker":"Perry Zheng","startTime":1170.887,"endTime":1173.497,"body":"That also seems a little"},{"speaker":"Perry Zheng","startTime":1170.887,"endTime":1173.497,"body":"bit unprofessional and that"},{"speaker":"Perry Zheng","startTime":1173.497,"endTime":1175.027,"body":"also takes a lot of time."},{"speaker":"Perry Zheng","startTime":1175.417,"endTime":1177.547,"body":"So the idea is okay."},{"speaker":"Perry Zheng","startTime":1178.412,"endTime":1183.642,"body":"A having a centralized source of"},{"speaker":"Perry Zheng","startTime":1178.412,"endTime":1183.642,"body":"truth helps the syndicators become"},{"speaker":"Perry Zheng","startTime":1183.642,"endTime":1185.112,"body":"more efficient with their time."},{"speaker":"Perry Zheng","startTime":1185.322,"endTime":1189.372,"body":"Can do more, do use, raise more"},{"speaker":"Perry Zheng","startTime":1185.322,"endTime":1189.372,"body":"money as well as become professional"},{"speaker":"Perry Zheng","startTime":1189.372,"endTime":1190.272,"body":"in front of the investors."},{"speaker":"Average Joe Finances","startTime":1192.382,"endTime":1192.832,"body":"Right on."},{"speaker":"Average Joe Finances","startTime":1192.882,"endTime":1194.682,"body":"There, there was one word"},{"speaker":"Average Joe Finances","startTime":1192.882,"endTime":1194.682,"body":"you said, though, that you"},{"speaker":"Average Joe Finances","startTime":1194.682,"endTime":1195.582,"body":"said it was unprofessional."},{"speaker":"Average Joe Finances","startTime":1195.582,"endTime":1198.192,"body":"I would say it's more"},{"speaker":"Average Joe Finances","startTime":1195.582,"endTime":1198.192,"body":"like outdated, right?"},{"speaker":"Average Joe Finances","startTime":1198.252,"endTime":1201.072,"body":"With the way current technology"},{"speaker":"Average Joe Finances","startTime":1198.252,"endTime":1201.072,"body":"is just the way that you could do"},{"speaker":"Average Joe Finances","startTime":1201.072,"endTime":1202.632,"body":"things to automate certain things."},{"speaker":"Average Joe Finances","startTime":1203.022,"endTime":1204.912,"body":"I would say that it's more outdated and."},{"speaker":"Average Joe Finances","startTime":1205.492,"endTime":1208.312,"body":"One of the things that you're bringing"},{"speaker":"Average Joe Finances","startTime":1205.492,"endTime":1208.312,"body":"to the table is like that refresh"},{"speaker":"Average Joe Finances","startTime":1208.342,"endTime":1212.732,"body":"that tech refresh that upgrade,"},{"speaker":"Average Joe Finances","startTime":1208.342,"endTime":1212.732,"body":"that's going to benefit those general"},{"speaker":"Average Joe Finances","startTime":1212.732,"endTime":1214.262,"body":"partners that are doing these deals."},{"speaker":"Average Joe Finances","startTime":1214.312,"endTime":1217.802,"body":"And the whole time I'm sitting here"},{"speaker":"Average Joe Finances","startTime":1214.312,"endTime":1217.802,"body":"in my head thinking like, as you're"},{"speaker":"Average Joe Finances","startTime":1217.802,"endTime":1221.582,"body":"describing the process and the going"},{"speaker":"Average Joe Finances","startTime":1217.802,"endTime":1221.582,"body":"back and forth with DocuSign and,"},{"speaker":"Average Joe Finances","startTime":1221.742,"endTime":1224.352,"body":"and I realized this from the most"},{"speaker":"Average Joe Finances","startTime":1221.742,"endTime":1224.352,"body":"recent syndication that I got myself"},{"speaker":"Average Joe Finances","startTime":1224.352,"endTime":1225.402,"body":"involved in to just going back to."},{"speaker":"Average Joe Finances","startTime":1226.197,"endTime":1229.737,"body":"And now the general partner that's"},{"speaker":"Average Joe Finances","startTime":1226.197,"endTime":1229.737,"body":"sitting here, like as the operations"},{"speaker":"Average Joe Finances","startTime":1229.737,"endTime":1233.997,"body":"officer that's sitting here and crunching"},{"speaker":"Average Joe Finances","startTime":1229.737,"endTime":1233.997,"body":"the numbers and sending out the monthly"},{"speaker":"Average Joe Finances","startTime":1233.997,"endTime":1237.867,"body":"updates and saying, okay, this is how"},{"speaker":"Average Joe Finances","startTime":1233.997,"endTime":1237.867,"body":"much, this is how well it's performed."},{"speaker":"Average Joe Finances","startTime":1237.867,"endTime":1241.337,"body":"This is how much, you're getting on your"},{"speaker":"Average Joe Finances","startTime":1237.867,"endTime":1241.337,"body":"return this month and blah, blah, blah."},{"speaker":"Average Joe Finances","startTime":1241.577,"endTime":1243.377,"body":"Doing that for 70 other people."},{"speaker":"Average Joe Finances","startTime":1243.707,"endTime":1246.047,"body":"You probably just gave everybody"},{"speaker":"Average Joe Finances","startTime":1243.707,"endTime":1246.047,"body":"listening to this show."},{"speaker":"Average Joe Finances","startTime":1246.047,"endTime":1249.767,"body":"That's a GP, some type of like"},{"speaker":"Average Joe Finances","startTime":1246.047,"endTime":1249.767,"body":"PTSD just now they're sitting there"},{"speaker":"Average Joe Finances","startTime":1249.767,"endTime":1252.852,"body":"like, oh my God, No, that's awesome."},{"speaker":"Average Joe Finances","startTime":1253.202,"endTime":1257.302,"body":"So this alleviates a lot of that, a"},{"speaker":"Average Joe Finances","startTime":1253.202,"endTime":1257.302,"body":"lot of that pain that th that these"},{"speaker":"Average Joe Finances","startTime":1257.302,"endTime":1258.712,"body":"lead syndicators are going through."},{"speaker":"Average Joe Finances","startTime":1259.022,"endTime":1262.832,"body":"So it's definitely something that"},{"speaker":"Average Joe Finances","startTime":1259.022,"endTime":1262.832,"body":"they might want to check out now being"},{"speaker":"Average Joe Finances","startTime":1262.832,"endTime":1267.192,"body":"a tech junkie as yourself besides"},{"speaker":"Average Joe Finances","startTime":1262.832,"endTime":1267.192,"body":"the cashflow portal, what other"},{"speaker":"Average Joe Finances","startTime":1267.192,"endTime":1272.532,"body":"like real estate apps or websites do"},{"speaker":"Average Joe Finances","startTime":1267.192,"endTime":1272.532,"body":"you like, or that you currently use"},{"speaker":"Average Joe Finances","startTime":1272.532,"endTime":1274.922,"body":"yourself while scoping out different?"},{"speaker":"Perry Zheng","startTime":1276.172,"endTime":1276.532,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":1276.592,"endTime":1277.402,"body":"Good question."},{"speaker":"Perry Zheng","startTime":1277.942,"endTime":1281.902,"body":"So I will tell you that we do not pay for."},{"speaker":"Perry Zheng","startTime":1282.742,"endTime":1282.952,"body":"Okay."},{"speaker":"Perry Zheng","startTime":1283.012,"endTime":1283.312,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":1283.502,"endTime":1288.182,"body":"Asana is something we use to work with"},{"speaker":"Perry Zheng","startTime":1283.502,"endTime":1288.182,"body":"the property management company to keep"},{"speaker":"Perry Zheng","startTime":1288.182,"endTime":1291.752,"body":"track of the tasks they do, although"},{"speaker":"Perry Zheng","startTime":1288.182,"endTime":1291.752,"body":"we don't follow their religiously,"},{"speaker":"Perry Zheng","startTime":1292.442,"endTime":1298.027,"body":"every single one of our meetings with"},{"speaker":"Perry Zheng","startTime":1292.442,"endTime":1298.027,"body":"our weekly probably mentioned company."},{"speaker":"Perry Zheng","startTime":1298.387,"endTime":1301.537,"body":"We use Google doc to"},{"speaker":"Perry Zheng","startTime":1298.387,"endTime":1301.537,"body":"keep track of our notes."},{"speaker":"Perry Zheng","startTime":1301.807,"endTime":1303.757,"body":"So we are religiously taking notes."},{"speaker":"Perry Zheng","startTime":1303.877,"endTime":1306.697,"body":"I really liked this habit of"},{"speaker":"Perry Zheng","startTime":1303.877,"endTime":1306.697,"body":"yourself taking notes as well."},{"speaker":"Perry Zheng","startTime":1307.097,"endTime":1311.987,"body":"And a Google sheet to keep track of"},{"speaker":"Perry Zheng","startTime":1307.097,"endTime":1311.987,"body":"a KPIs key performance indicators."},{"speaker":"Perry Zheng","startTime":1312.197,"endTime":1316.567,"body":"So those will be what's the"},{"speaker":"Perry Zheng","startTime":1312.197,"endTime":1316.567,"body":"occupancy, economic occupancy."},{"speaker":"Perry Zheng","startTime":1317.047,"endTime":1319.987,"body":"How many work orders do we still have?"},{"speaker":"Perry Zheng","startTime":1320.107,"endTime":1322.387,"body":"How many users we have term"},{"speaker":"Perry Zheng","startTime":1320.107,"endTime":1322.387,"body":"and so on and so forth."},{"speaker":"Perry Zheng","startTime":1322.777,"endTime":1325.117,"body":"And that we right now,"},{"speaker":"Perry Zheng","startTime":1322.777,"endTime":1325.117,"body":"we do it in the KPI."},{"speaker":"Perry Zheng","startTime":1325.687,"endTime":1327.517,"body":"Then Every deal."},{"speaker":"Perry Zheng","startTime":1327.547,"endTime":1329.437,"body":"We use a spreadsheet to underwrite."},{"speaker":"Perry Zheng","startTime":1329.487,"endTime":1331.827,"body":"There's some, a back of the"},{"speaker":"Perry Zheng","startTime":1329.487,"endTime":1331.827,"body":"napkin underwriting, and they're"},{"speaker":"Perry Zheng","startTime":1331.827,"endTime":1333.207,"body":"just a football underwriting."},{"speaker":"Perry Zheng","startTime":1333.287,"endTime":1338.167,"body":"And so obviously there have been"},{"speaker":"Perry Zheng","startTime":1333.287,"endTime":1338.167,"body":"many tools that come up to replace"},{"speaker":"Perry Zheng","startTime":1338.167,"endTime":1340.477,"body":"that spreadsheet with a software."},{"speaker":"Perry Zheng","startTime":1340.657,"endTime":1343.447,"body":"There's a saying that if something"},{"speaker":"Perry Zheng","startTime":1340.657,"endTime":1343.447,"body":"is in a spreadsheet, there's"},{"speaker":"Perry Zheng","startTime":1343.637,"endTime":1344.887,"body":"probably, a business for it."},{"speaker":"Perry Zheng","startTime":1345.217,"endTime":1347.447,"body":"I agree with that statement except."},{"speaker":"Perry Zheng","startTime":1348.077,"endTime":1353.147,"body":"So far, I have seen a software that's"},{"speaker":"Perry Zheng","startTime":1348.077,"endTime":1353.147,"body":"as flexible as a spreadsheet per se."},{"speaker":"Perry Zheng","startTime":1353.927,"endTime":1358.727,"body":"And now I use cash flow portal myself"},{"speaker":"Perry Zheng","startTime":1353.927,"endTime":1358.727,"body":"every single day to keep track of"},{"speaker":"Perry Zheng","startTime":1358.727,"endTime":1363.947,"body":"my who, which one of my investors"},{"speaker":"Perry Zheng","startTime":1358.727,"endTime":1363.947,"body":"has has seen their K ones or their"},{"speaker":"Perry Zheng","startTime":1364.157,"endTime":1369.047,"body":"distributions, and be able to email them"},{"speaker":"Perry Zheng","startTime":1364.157,"endTime":1369.047,"body":"and send them a monthly newsletter while"},{"speaker":"Perry Zheng","startTime":1369.047,"endTime":1370.397,"body":"we're coasting on this deal or not."},{"speaker":"Perry Zheng","startTime":1370.847,"endTime":1373.697,"body":"And yeah from a journal"},{"speaker":"Perry Zheng","startTime":1370.847,"endTime":1373.697,"body":"purpose perspective."},{"speaker":"Perry Zheng","startTime":1374.257,"endTime":1374.587,"body":"Okay."},{"speaker":"Perry Zheng","startTime":1374.617,"endTime":1378.037,"body":"So going back to the"},{"speaker":"Perry Zheng","startTime":1374.617,"endTime":1378.037,"body":"underwriting people can use."},{"speaker":"Perry Zheng","startTime":1378.972,"endTime":1382.002,"body":"But if people want to know"},{"speaker":"Perry Zheng","startTime":1378.972,"endTime":1382.002,"body":"what is the market rent?"},{"speaker":"Perry Zheng","startTime":1382.482,"endTime":1383.892,"body":"There are many ways of doing it."},{"speaker":"Perry Zheng","startTime":1383.982,"endTime":1387.402,"body":"One is to go out and do"},{"speaker":"Perry Zheng","startTime":1383.982,"endTime":1387.402,"body":"competitor surveys yourself."},{"speaker":"Perry Zheng","startTime":1387.762,"endTime":1390.792,"body":"Second, you do the hard work of going on."},{"speaker":"Perry Zheng","startTime":1390.792,"endTime":1396.342,"body":"Crixus type in the zip code,"},{"speaker":"Perry Zheng","startTime":1390.792,"endTime":1396.342,"body":"put a one mile radius, put the"},{"speaker":"Perry Zheng","startTime":1396.342,"endTime":1399.012,"body":"view into map instead of list."},{"speaker":"Perry Zheng","startTime":1399.312,"endTime":1401.292,"body":"So you can find locally."},{"speaker":"Perry Zheng","startTime":1401.792,"endTime":1404.942,"body":"The location of your property,"},{"speaker":"Perry Zheng","startTime":1401.792,"endTime":1404.942,"body":"and then look at what everyone"},{"speaker":"Perry Zheng","startTime":1404.942,"endTime":1406.562,"body":"else around the area is charging."},{"speaker":"Perry Zheng","startTime":1406.872,"endTime":1408.972,"body":"That's work, there's"},{"speaker":"Perry Zheng","startTime":1406.872,"endTime":1408.972,"body":"nothing to automate it."},{"speaker":"Perry Zheng","startTime":1408.972,"endTime":1411.132,"body":"You just have to open a"},{"speaker":"Perry Zheng","startTime":1408.972,"endTime":1411.132,"body":"criticism and look at it."},{"speaker":"Perry Zheng","startTime":1411.622,"endTime":1417.072,"body":"If you're doing Airbnb, I will go on"},{"speaker":"Perry Zheng","startTime":1411.622,"endTime":1417.072,"body":"Airbnb and look up how much a one night"},{"speaker":"Perry Zheng","startTime":1417.072,"endTime":1418.842,"body":"will charge for this neighborhood."},{"speaker":"Perry Zheng","startTime":1419.022,"endTime":1423.852,"body":"And so I use all these little"},{"speaker":"Perry Zheng","startTime":1419.022,"endTime":1423.852,"body":"websites to gain information"},{"speaker":"Perry Zheng","startTime":1424.032,"endTime":1425.802,"body":"about this area or this deal."},{"speaker":"Average Joe Finances","startTime":1427.132,"endTime":1427.912,"body":"Yeah, that's great."},{"speaker":"Average Joe Finances","startTime":1427.912,"endTime":1430.082,"body":"Like, writing down the stuff"},{"speaker":"Average Joe Finances","startTime":1427.912,"endTime":1430.082,"body":"that you're talking about."},{"speaker":"Average Joe Finances","startTime":1430.082,"endTime":1434.492,"body":"So I've heard of many syndicators that"},{"speaker":"Average Joe Finances","startTime":1430.082,"endTime":1434.492,"body":"use a sauna as it's a good, it's a"},{"speaker":"Average Joe Finances","startTime":1434.492,"endTime":1436.412,"body":"good website for teams and everything."},{"speaker":"Average Joe Finances","startTime":1436.802,"endTime":1438.852,"body":"But Googled Google notes for."},{"speaker":"Average Joe Finances","startTime":1440.082,"endTime":1441.482,"body":"Oh, Google docs for notes."},{"speaker":"Average Joe Finances","startTime":1441.512,"endTime":1442.382,"body":"That's awesome."},{"speaker":"Average Joe Finances","startTime":1442.602,"endTime":1445.452,"body":"As well as Google sheets"},{"speaker":"Average Joe Finances","startTime":1442.602,"endTime":1445.452,"body":"for tracking your KPIs."},{"speaker":"Average Joe Finances","startTime":1445.842,"endTime":1446.682,"body":"Absolutely awesome."},{"speaker":"Average Joe Finances","startTime":1446.682,"endTime":1450.582,"body":"It's kinda like, back to the basics,"},{"speaker":"Average Joe Finances","startTime":1446.682,"endTime":1450.582,"body":"but the basics that are so good and you"},{"speaker":"Average Joe Finances","startTime":1450.582,"endTime":1452.322,"body":"can continue using it no matter what."},{"speaker":"Average Joe Finances","startTime":1452.897,"endTime":1457.557,"body":"And then, even going as far as to go to"},{"speaker":"Average Joe Finances","startTime":1452.897,"endTime":1457.557,"body":"Craigslist and yeah, you've got to do"},{"speaker":"Average Joe Finances","startTime":1457.557,"endTime":1461.157,"body":"a little bit of the work yourself, but"},{"speaker":"Average Joe Finances","startTime":1457.557,"endTime":1461.157,"body":"you're getting probably a little bit more"},{"speaker":"Average Joe Finances","startTime":1461.157,"endTime":1466.107,"body":"of a accurate data picture versus using"},{"speaker":"Average Joe Finances","startTime":1461.157,"endTime":1466.107,"body":"something else, like another website that,"},{"speaker":"Average Joe Finances","startTime":1466.527,"endTime":1468.717,"body":"that will go out and automate it for you."},{"speaker":"Average Joe Finances","startTime":1469.117,"endTime":1471.847,"body":"You're going to get something like a more"},{"speaker":"Average Joe Finances","startTime":1469.117,"endTime":1471.847,"body":"accurate picture, so you can actually"},{"speaker":"Average Joe Finances","startTime":1472.147,"endTime":1475.987,"body":"be a little more conservative with how"},{"speaker":"Average Joe Finances","startTime":1472.147,"endTime":1475.987,"body":"you're, how you're coming up with your"},{"speaker":"Average Joe Finances","startTime":1475.987,"endTime":1479.947,"body":"deals, Like under promise, but over"},{"speaker":"Average Joe Finances","startTime":1475.987,"endTime":1479.947,"body":"deliver type deal, instead of like saying,"},{"speaker":"Average Joe Finances","startTime":1479.947,"endTime":1480.997,"body":"Hey, this is what we're going to get."},{"speaker":"Average Joe Finances","startTime":1480.997,"endTime":1483.977,"body":"And then you get exactly just that"},{"speaker":"Average Joe Finances","startTime":1480.997,"endTime":1483.977,"body":"where you can come in and be like,"},{"speaker":"Average Joe Finances","startTime":1483.977,"endTime":1487.037,"body":"Hey, based off the surveys, we're going"},{"speaker":"Average Joe Finances","startTime":1483.977,"endTime":1487.037,"body":"to say that we can get around here."},{"speaker":"Average Joe Finances","startTime":1487.037,"endTime":1491.247,"body":"And then when you come in and do something"},{"speaker":"Average Joe Finances","startTime":1487.037,"endTime":1491.247,"body":"better, now you over-delivered and makes"},{"speaker":"Average Joe Finances","startTime":1491.247,"endTime":1494.667,"body":"your investors happier to move on with you"},{"speaker":"Average Joe Finances","startTime":1491.247,"endTime":1494.667,"body":"to the next deal, like you said, right?"},{"speaker":"Average Joe Finances","startTime":1494.667,"endTime":1497.167,"body":"Cause if a deal, your mindset"},{"speaker":"Average Joe Finances","startTime":1494.667,"endTime":1497.167,"body":"is if the deal doesn't go"},{"speaker":"Average Joe Finances","startTime":1497.167,"endTime":1498.847,"body":"well, there is no next deal."},{"speaker":"Average Joe Finances","startTime":1499.057,"endTime":1502.677,"body":"So that's, I think that carries"},{"speaker":"Average Joe Finances","startTime":1499.057,"endTime":1502.677,"body":"into the work that you put into it."},{"speaker":"Average Joe Finances","startTime":1502.717,"endTime":1506.147,"body":"I'm pretty sure you just prove"},{"speaker":"Average Joe Finances","startTime":1502.717,"endTime":1506.147,"body":"that by stating how you go about."},{"speaker":"Average Joe Finances","startTime":1506.912,"endTime":1507.842,"body":"And do your things right."},{"speaker":"Average Joe Finances","startTime":1507.872,"endTime":1512.402,"body":"Even with either to competitor survey,"},{"speaker":"Average Joe Finances","startTime":1507.872,"endTime":1512.402,"body":"or even just like niching down on"},{"speaker":"Average Joe Finances","startTime":1512.402,"endTime":1516.582,"body":"Craigslist, down to that particular area"},{"speaker":"Average Joe Finances","startTime":1512.402,"endTime":1516.582,"body":"and just targeting the area and great"},{"speaker":"Average Joe Finances","startTime":1516.582,"endTime":1521.832,"body":"point that you made to for those that"},{"speaker":"Average Joe Finances","startTime":1516.582,"endTime":1521.832,"body":"are like doing like a Airbnb or  and"},{"speaker":"Average Joe Finances","startTime":1521.832,"endTime":1525.012,"body":"stuff like that, to go in there and see"},{"speaker":"Average Joe Finances","startTime":1521.832,"endTime":1525.012,"body":"what the competitors are doing, like"},{"speaker":"Average Joe Finances","startTime":1525.232,"endTime":1529.912,"body":"what that market looks like and build"},{"speaker":"Average Joe Finances","startTime":1525.232,"endTime":1529.912,"body":"your own, priceless based off of that."},{"speaker":"Average Joe Finances","startTime":1529.912,"endTime":1531.082,"body":"Because then you can have a good idea."},{"speaker":"Average Joe Finances","startTime":1531.817,"endTime":1535.027,"body":"Of what you could charge for rent"},{"speaker":"Average Joe Finances","startTime":1531.817,"endTime":1535.027,"body":"and will that work for the price of"},{"speaker":"Average Joe Finances","startTime":1535.027,"endTime":1536.467,"body":"property that you're going to purchase."},{"speaker":"Average Joe Finances","startTime":1536.717,"endTime":1538.847,"body":"All that stuff is"},{"speaker":"Average Joe Finances","startTime":1536.717,"endTime":1538.847,"body":"definitely fantastic advice."},{"speaker":"Average Joe Finances","startTime":1538.897,"endTime":1539.317,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1539.827,"endTime":1543.707,"body":"Now since you are like the tech"},{"speaker":"Average Joe Finances","startTime":1539.827,"endTime":1543.707,"body":"guy right now, I know you're like"},{"speaker":"Average Joe Finances","startTime":1543.707,"endTime":1545.347,"body":"you're huge into the digital world."},{"speaker":"Average Joe Finances","startTime":1545.947,"endTime":1550.357,"body":"What do you think the digital"},{"speaker":"Average Joe Finances","startTime":1545.947,"endTime":1550.357,"body":"future for real estate is?"},{"speaker":"Perry Zheng","startTime":1551.587,"endTime":1552.127,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":1552.247,"endTime":1552.967,"body":"Good question."},{"speaker":"Perry Zheng","startTime":1555.652,"endTime":1560.222,"body":"One thing is people are really"},{"speaker":"Perry Zheng","startTime":1555.652,"endTime":1560.222,"body":"excited about syndication."},{"speaker":"Perry Zheng","startTime":1560.222,"endTime":1563.822,"body":"But what people don't realize"},{"speaker":"Perry Zheng","startTime":1560.222,"endTime":1563.822,"body":"is that it's a very green field."},{"speaker":"Perry Zheng","startTime":1564.302,"endTime":1565.832,"body":"It's only being a most."},{"speaker":"Perry Zheng","startTime":1566.602,"endTime":1571.012,"body":"Nine years, I think it was 2012"},{"speaker":"Perry Zheng","startTime":1566.602,"endTime":1571.012,"body":"when the law was passed and it"},{"speaker":"Perry Zheng","startTime":1571.012,"endTime":1573.922,"body":"takes about two years for it to even"},{"speaker":"Perry Zheng","startTime":1571.012,"endTime":1573.922,"body":"like, to people even hear about it."},{"speaker":"Perry Zheng","startTime":1573.972,"endTime":1578.682,"body":"And then it's only not until 2018 or"},{"speaker":"Perry Zheng","startTime":1573.972,"endTime":1578.682,"body":"19, they start really getting traction."},{"speaker":"Perry Zheng","startTime":1579.162,"endTime":1584.922,"body":"So I think it's still a second"},{"speaker":"Perry Zheng","startTime":1579.162,"endTime":1584.922,"body":"Emmy on all the real specification."},{"speaker":"Perry Zheng","startTime":1585.222,"endTime":1585.732,"body":"If you're looking at."},{"speaker":"Perry Zheng","startTime":1586.412,"endTime":1589.812,"body":"10 31 exchange, it's been"},{"speaker":"Perry Zheng","startTime":1586.412,"endTime":1589.812,"body":"here for more than 50 years."},{"speaker":"Perry Zheng","startTime":1589.862,"endTime":1594.002,"body":"By second, any, I think there are still 40"},{"speaker":"Perry Zheng","startTime":1589.862,"endTime":1594.002,"body":"more years to go after the first decade."},{"speaker":"Perry Zheng","startTime":1594.212,"endTime":1594.542,"body":"Okay."},{"speaker":"Perry Zheng","startTime":1594.672,"endTime":1598.512,"body":"And there are many more, and it might"},{"speaker":"Perry Zheng","startTime":1594.672,"endTime":1598.512,"body":"be common sense after a few decades"},{"speaker":"Perry Zheng","startTime":1598.512,"endTime":1599.682,"body":"that, oh yeah, this is what we do."},{"speaker":"Perry Zheng","startTime":1600.462,"endTime":1604.692,"body":"And so what that means is you have this"},{"speaker":"Perry Zheng","startTime":1600.462,"endTime":1604.692,"body":"huge growth of real estate syndicators."},{"speaker":"Perry Zheng","startTime":1604.692,"endTime":1606.522,"body":"You get into serious dislocation."},{"speaker":"Perry Zheng","startTime":1606.812,"endTime":1609.932,"body":"Someone else is getting into"},{"speaker":"Perry Zheng","startTime":1606.812,"endTime":1609.932,"body":"reassess indication and guess what?"},{"speaker":"Perry Zheng","startTime":1609.932,"endTime":1611.402,"body":"It's not just multifamily."},{"speaker":"Perry Zheng","startTime":1611.972,"endTime":1615.902,"body":"Real estate syndication is just a"},{"speaker":"Perry Zheng","startTime":1611.972,"endTime":1615.902,"body":"generic term of putting money to buy"},{"speaker":"Perry Zheng","startTime":1615.902,"endTime":1617.702,"body":"something larger than one can buy."},{"speaker":"Perry Zheng","startTime":1617.922,"endTime":1623.792,"body":"Period that that happened to involve"},{"speaker":"Perry Zheng","startTime":1617.922,"endTime":1623.792,"body":"the logistics of sending of signing"},{"speaker":"Perry Zheng","startTime":1623.822,"endTime":1629.352,"body":"PPS so that you grow you agree"},{"speaker":"Perry Zheng","startTime":1623.822,"endTime":1629.352,"body":"contractually and legally to a"},{"speaker":"Perry Zheng","startTime":1629.352,"endTime":1631.692,"body":"binding agreement to share the profit."},{"speaker":"Perry Zheng","startTime":1631.692,"endTime":1633.902,"body":"And and it could be actually buying a."},{"speaker":"Perry Zheng","startTime":1634.527,"endTime":1639.717,"body":"A amazing Airbnb down in Maui or"},{"speaker":"Perry Zheng","startTime":1634.527,"endTime":1639.717,"body":"Hawaii that you are the operator"},{"speaker":"Perry Zheng","startTime":1639.717,"endTime":1641.787,"body":"of the Airbnb and you syndicate it."},{"speaker":"Perry Zheng","startTime":1641.997,"endTime":1644.457,"body":"It could be self storage, it"},{"speaker":"Perry Zheng","startTime":1641.997,"endTime":1644.457,"body":"could be residential, it could"},{"speaker":"Perry Zheng","startTime":1644.457,"endTime":1645.837,"body":"be a portfolio of residential."},{"speaker":"Perry Zheng","startTime":1646.287,"endTime":1650.457,"body":"So because of the high growth of"},{"speaker":"Perry Zheng","startTime":1646.287,"endTime":1650.457,"body":"syndicators I should have answered"},{"speaker":"Perry Zheng","startTime":1650.457,"endTime":1656.697,"body":"your question directly is that as"},{"speaker":"Perry Zheng","startTime":1650.457,"endTime":1656.697,"body":"a passive investor coming into real"},{"speaker":"Perry Zheng","startTime":1656.697,"endTime":1659.547,"body":"estate syndication, they have no idea."},{"speaker":"Perry Zheng","startTime":1659.547,"endTime":1660.117,"body":"Who's good."},{"speaker":"Perry Zheng","startTime":1660.177,"endTime":1660.627,"body":"And who's not."},{"speaker":"Perry Zheng","startTime":1661.647,"endTime":1666.897,"body":"They can look at people's websites"},{"speaker":"Perry Zheng","startTime":1661.647,"endTime":1666.897,"body":"and get an idea, but there's no way"},{"speaker":"Perry Zheng","startTime":1666.897,"endTime":1671.777,"body":"to say so-and-so is good as or they're"},{"speaker":"Perry Zheng","startTime":1666.897,"endTime":1671.777,"body":"just a good sales person, without"},{"speaker":"Perry Zheng","startTime":1671.807,"endTime":1673.067,"body":"sitting down and talking to them."},{"speaker":"Perry Zheng","startTime":1673.547,"endTime":1678.047,"body":"So I think that digital future is"},{"speaker":"Perry Zheng","startTime":1673.547,"endTime":1678.047,"body":"moving towards information sharing"},{"speaker":"Perry Zheng","startTime":1678.467,"endTime":1684.197,"body":"and the equivalent of a IMTP of"},{"speaker":"Perry Zheng","startTime":1678.467,"endTime":1684.197,"body":"reassessed syndicators in the world."},{"speaker":"Perry Zheng","startTime":1684.737,"endTime":1686.117,"body":"That's why I think it's going."},{"speaker":"Perry Zheng","startTime":1687.902,"endTime":1692.912,"body":"Plays where you can see the track record"},{"speaker":"Perry Zheng","startTime":1687.902,"endTime":1692.912,"body":"and the reviews of reassess indicators."},{"speaker":"Perry Zheng","startTime":1693.272,"endTime":1697.812,"body":"Now that may not be a reality by"},{"speaker":"Perry Zheng","startTime":1693.272,"endTime":1697.812,"body":"do believe that's better for the"},{"speaker":"Perry Zheng","startTime":1697.812,"endTime":1699.792,"body":"world to have it than not have it."},{"speaker":"Average Joe Finances","startTime":1701.052,"endTime":1702.942,"body":"Yeah, I was actually"},{"speaker":"Average Joe Finances","startTime":1701.052,"endTime":1702.942,"body":"just going to comment on that too."},{"speaker":"Average Joe Finances","startTime":1702.942,"endTime":1706.782,"body":"Cause when you mentioned it's"},{"speaker":"Average Joe Finances","startTime":1702.942,"endTime":1706.782,"body":"like a becoming like the CMDB of"},{"speaker":"Average Joe Finances","startTime":1706.782,"endTime":1708.042,"body":"real estate syndicators, right?"},{"speaker":"Average Joe Finances","startTime":1708.042,"endTime":1711.352,"body":"So it's just, now you want to"},{"speaker":"Average Joe Finances","startTime":1708.042,"endTime":1711.352,"body":"see the track records of people."},{"speaker":"Average Joe Finances","startTime":1712.437,"endTime":1716.037,"body":"As it's growing there, there's a lot of"},{"speaker":"Average Joe Finances","startTime":1712.437,"endTime":1716.037,"body":"people now like getting into syndications,"},{"speaker":"Average Joe Finances","startTime":1716.047,"endTime":1718.107,"body":"like starting off fresh and brand new."},{"speaker":"Average Joe Finances","startTime":1718.427,"endTime":1719.957,"body":"And you don't know who they are."},{"speaker":"Average Joe Finances","startTime":1719.957,"endTime":1720.347,"body":"They could be."},{"speaker":"Average Joe Finances","startTime":1721.142,"endTime":1724.022,"body":"Like up and coming and be the best,"},{"speaker":"Average Joe Finances","startTime":1721.142,"endTime":1724.022,"body":"but you don't know who they are."},{"speaker":"Average Joe Finances","startTime":1724.072,"endTime":1728.092,"body":"I think, the route you went when you"},{"speaker":"Average Joe Finances","startTime":1724.072,"endTime":1728.092,"body":"started and got yourself involved"},{"speaker":"Average Joe Finances","startTime":1728.092,"endTime":1731.572,"body":"in a bigger name, by going through"},{"speaker":"Average Joe Finances","startTime":1728.092,"endTime":1731.572,"body":"that, that coaching program, you"},{"speaker":"Average Joe Finances","startTime":1731.572,"endTime":1735.172,"body":"were able to, add a little more"},{"speaker":"Average Joe Finances","startTime":1731.572,"endTime":1735.172,"body":"merit to your background, right?"},{"speaker":"Average Joe Finances","startTime":1735.887,"endTime":1740.737,"body":"Be more of a known force in, in"},{"speaker":"Average Joe Finances","startTime":1735.887,"endTime":1740.737,"body":"the syndication space, right?"},{"speaker":"Average Joe Finances","startTime":1740.737,"endTime":1742.987,"body":"So something like, that's very important."},{"speaker":"Average Joe Finances","startTime":1743.287,"endTime":1749.727,"body":"Like if I was to say, Hey, I want to"},{"speaker":"Average Joe Finances","startTime":1743.287,"endTime":1749.727,"body":"be a GP and do my first indication and"},{"speaker":"Average Joe Finances","startTime":1749.727,"endTime":1751.227,"body":"I'm going to start it like next week."},{"speaker":"Average Joe Finances","startTime":1752.472,"endTime":1754.032,"body":"What the heck do you know"},{"speaker":"Average Joe Finances","startTime":1752.472,"endTime":1754.032,"body":"about this stuff, Mike?"},{"speaker":"Average Joe Finances","startTime":1754.392,"endTime":1758.112,"body":"But the thing is, the background"},{"speaker":"Average Joe Finances","startTime":1754.392,"endTime":1758.112,"body":"that you get as you're doing these."},{"speaker":"Average Joe Finances","startTime":1758.142,"endTime":1763.662,"body":"So by myself, right now, going in"},{"speaker":"Average Joe Finances","startTime":1758.142,"endTime":1763.662,"body":"as a limited partner, I'm going"},{"speaker":"Average Joe Finances","startTime":1763.662,"endTime":1764.862,"body":"to be going into multiple deals."},{"speaker":"Average Joe Finances","startTime":1764.912,"endTime":1769.212,"body":"And, getting this experience and"},{"speaker":"Average Joe Finances","startTime":1764.912,"endTime":1769.212,"body":"learning from like successful GPS"},{"speaker":"Average Joe Finances","startTime":1769.522,"endTime":1772.252,"body":"maybe in the future, who knows, maybe"},{"speaker":"Average Joe Finances","startTime":1769.522,"endTime":1772.252,"body":"I get into some type of coaching"},{"speaker":"Average Joe Finances","startTime":1772.252,"endTime":1773.482,"body":"program, similar to what you did."},{"speaker":"Average Joe Finances","startTime":1773.902,"endTime":1775.912,"body":"And then if I decide in"},{"speaker":"Average Joe Finances","startTime":1773.902,"endTime":1775.912,"body":"the future to start my own."},{"speaker":"Average Joe Finances","startTime":1776.717,"endTime":1780.887,"body":"Syndication as a general partner,"},{"speaker":"Average Joe Finances","startTime":1776.717,"endTime":1780.887,"body":"that is something that, I've"},{"speaker":"Average Joe Finances","startTime":1780.947,"endTime":1784.937,"body":"got a good background and a good"},{"speaker":"Average Joe Finances","startTime":1780.947,"endTime":1784.937,"body":"resume to support me starting up."},{"speaker":"Average Joe Finances","startTime":1785.247,"endTime":1789.337,"body":"It's important to, especially for somebody"},{"speaker":"Average Joe Finances","startTime":1785.247,"endTime":1789.337,"body":"who's going in as a limited partner, I"},{"speaker":"Average Joe Finances","startTime":1789.337,"endTime":1792.607,"body":"can tell you from experience as a limited"},{"speaker":"Average Joe Finances","startTime":1789.337,"endTime":1792.607,"body":"partner that you really want to be."},{"speaker":"Average Joe Finances","startTime":1793.267,"endTime":1797.707,"body":"The team that you're going in with, you"},{"speaker":"Average Joe Finances","startTime":1793.267,"endTime":1797.707,"body":"want to know that you're not putting your"},{"speaker":"Average Joe Finances","startTime":1797.707,"endTime":1799.297,"body":"money into something that's going to fail."},{"speaker":"Average Joe Finances","startTime":1799.927,"endTime":1803.807,"body":"And a lot of times if the numbers"},{"speaker":"Average Joe Finances","startTime":1799.927,"endTime":1803.807,"body":"work syndications, that it's"},{"speaker":"Average Joe Finances","startTime":1803.807,"endTime":1805.007,"body":"pretty hard for them to fail."},{"speaker":"Average Joe Finances","startTime":1805.007,"endTime":1810.597,"body":"They're pretty they're pretty resistant"},{"speaker":"Average Joe Finances","startTime":1805.007,"endTime":1810.597,"body":"to, outside influences, but there is"},{"speaker":"Average Joe Finances","startTime":1810.597,"endTime":1811.977,"body":"things that can affect them, right?"},{"speaker":"Average Joe Finances","startTime":1812.257,"endTime":1815.137,"body":"Especially if there's like a lack of"},{"speaker":"Average Joe Finances","startTime":1812.257,"endTime":1815.137,"body":"experience for the operators that are"},{"speaker":"Average Joe Finances","startTime":1815.137,"endTime":1816.427,"body":"going in there and finding these deals."},{"speaker":"Average Joe Finances","startTime":1816.757,"endTime":1818.507,"body":"So that's super important that you."},{"speaker":"Average Joe Finances","startTime":1819.222,"endTime":1823.282,"body":"That the team that you're working"},{"speaker":"Average Joe Finances","startTime":1819.222,"endTime":1823.282,"body":"with is, has the right knowledge,"},{"speaker":"Average Joe Finances","startTime":1823.282,"endTime":1827.812,"body":"has the right skillset and will be"},{"speaker":"Average Joe Finances","startTime":1823.282,"endTime":1827.812,"body":"a good steward of your money because"},{"speaker":"Average Joe Finances","startTime":1827.812,"endTime":1829.252,"body":"ultimately that's what they are."},{"speaker":"Average Joe Finances","startTime":1829.252,"endTime":1830.542,"body":"They're a stewards of your money."},{"speaker":"Average Joe Finances","startTime":1830.962,"endTime":1832.432,"body":"So yeah, a very great point."},{"speaker":"Average Joe Finances","startTime":1832.882,"endTime":1837.312,"body":"And so I want to talk a little bit"},{"speaker":"Average Joe Finances","startTime":1832.882,"endTime":1837.312,"body":"more about you personally, right?"},{"speaker":"Average Joe Finances","startTime":1837.312,"endTime":1840.842,"body":"So now I know, you were working in."},{"speaker":"Average Joe Finances","startTime":1841.607,"endTime":1843.047,"body":"I guess like the tech space, right?"},{"speaker":"Average Joe Finances","startTime":1843.077,"endTime":1848.357,"body":"When you worked for Twitter and"},{"speaker":"Average Joe Finances","startTime":1843.077,"endTime":1848.357,"body":"Amazon and Lyft now going full-time"},{"speaker":"Average Joe Finances","startTime":1848.447,"endTime":1850.217,"body":"into real estate as a syndicator."},{"speaker":"Average Joe Finances","startTime":1850.577,"endTime":1850.817,"body":"Sure."},{"speaker":"Average Joe Finances","startTime":1851.117,"endTime":1854.507,"body":"I want to know because what we talk"},{"speaker":"Average Joe Finances","startTime":1851.117,"endTime":1854.507,"body":"about on this podcast is his personal"},{"speaker":"Average Joe Finances","startTime":1854.507,"endTime":1856.997,"body":"finances all around, not just real estate."},{"speaker":"Average Joe Finances","startTime":1857.327,"endTime":1859.647,"body":"So is there any other asset classes that."},{"speaker":"Average Joe Finances","startTime":1861.002,"endTime":1864.272,"body":"Personally yourself invest"},{"speaker":"Average Joe Finances","startTime":1861.002,"endTime":1864.272,"body":"in besides real estate."},{"speaker":"Perry Zheng","startTime":1865.052,"endTime":1865.412,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":1865.772,"endTime":1869.822,"body":"Yeah, people ask me about"},{"speaker":"Perry Zheng","startTime":1865.772,"endTime":1869.822,"body":"my allocation of my wealth."},{"speaker":"Perry Zheng","startTime":1870.332,"endTime":1875.642,"body":"It is probably 7% in"},{"speaker":"Perry Zheng","startTime":1870.332,"endTime":1875.642,"body":"real estate and then 30%."},{"speaker":"Perry Zheng","startTime":1876.917,"endTime":1882.977,"body":"Losing my job definitely takes the big"},{"speaker":"Perry Zheng","startTime":1876.917,"endTime":1882.977,"body":"hits into my income is called a golden"},{"speaker":"Perry Zheng","startTime":1882.977,"endTime":1885.527,"body":"handcuff for people who are in tech."},{"speaker":"Perry Zheng","startTime":1885.807,"endTime":1887.577,"body":"You, yeah, it's a golden handcuff."},{"speaker":"Perry Zheng","startTime":1888.057,"endTime":1892.257,"body":"My time going forward is actually"},{"speaker":"Perry Zheng","startTime":1888.057,"endTime":1892.257,"body":"cannot be 90% in my startup"},{"speaker":"Perry Zheng","startTime":1892.687,"endTime":1894.007,"body":"where I will be growing it."},{"speaker":"Perry Zheng","startTime":1894.297,"endTime":1895.477,"body":"And it's a scalable."},{"speaker":"Perry Zheng","startTime":1895.967,"endTime":1897.647,"body":"There's definitely product market fit."},{"speaker":"Perry Zheng","startTime":1897.857,"endTime":1901.847,"body":"It's growing 80 to a hundred percent"},{"speaker":"Perry Zheng","startTime":1897.857,"endTime":1901.847,"body":"week over week at this point."},{"speaker":"Perry Zheng","startTime":1902.087,"endTime":1906.197,"body":"And so it's actually really fun and"},{"speaker":"Perry Zheng","startTime":1902.087,"endTime":1906.197,"body":"we really busy and that's exciting."},{"speaker":"Average Joe Finances","startTime":1906.707,"endTime":1907.607,"body":"That's really exciting."},{"speaker":"Perry Zheng","startTime":1908.117,"endTime":1908.837,"body":"Hypergrowth."},{"speaker":"Perry Zheng","startTime":1908.867,"endTime":1913.117,"body":"That kind of feeling is it's like"},{"speaker":"Perry Zheng","startTime":1908.867,"endTime":1913.117,"body":"it's startup is definitely the"},{"speaker":"Perry Zheng","startTime":1913.117,"endTime":1914.677,"body":"most fun thing I have ever thought."},{"speaker":"Perry Zheng","startTime":1914.707,"endTime":1916.747,"body":"It's also the hardest thing I have done."},{"speaker":"Perry Zheng","startTime":1918.122,"endTime":1918.542,"body":"Tokyo."},{"speaker":"Perry Zheng","startTime":1919.472,"endTime":1924.542,"body":"I took it from someone that if I'm"},{"speaker":"Perry Zheng","startTime":1919.472,"endTime":1924.542,"body":"not willing to grind my startup, which"},{"speaker":"Perry Zheng","startTime":1924.542,"endTime":1930.242,"body":"is a very high risk business while"},{"speaker":"Perry Zheng","startTime":1924.542,"endTime":1930.242,"body":"having a W2 job for at least a few"},{"speaker":"Perry Zheng","startTime":1930.242,"endTime":1935.252,"body":"months, then I probably not passionate"},{"speaker":"Perry Zheng","startTime":1930.242,"endTime":1935.252,"body":"about the idea of the startup at all."},{"speaker":"Perry Zheng","startTime":1935.592,"endTime":1936.102,"body":"I grinded."},{"speaker":"Perry Zheng","startTime":1936.732,"endTime":1937.962,"body":"A year and a half at this point."},{"speaker":"Perry Zheng","startTime":1937.992,"endTime":1939.642,"body":"So I think I pay my dues."},{"speaker":"Perry Zheng","startTime":1940.002,"endTime":1940.632,"body":"So it's time."},{"speaker":"Perry Zheng","startTime":1940.782,"endTime":1941.652,"body":"It's time to go audit."},{"speaker":"Perry Zheng","startTime":1942.102,"endTime":1947.942,"body":"In terms of my asset classes going forward"},{"speaker":"Perry Zheng","startTime":1942.102,"endTime":1947.942,"body":"my income I want to have that much to"},{"speaker":"Perry Zheng","startTime":1947.942,"endTime":1951.402,"body":"come because to start off, I put, be"},{"speaker":"Perry Zheng","startTime":1947.942,"endTime":1951.402,"body":"putting all the profit back into the"},{"speaker":"Perry Zheng","startTime":1951.402,"endTime":1954.182,"body":"startup and we'll be it's gonna be a."},{"speaker":"Perry Zheng","startTime":1954.662,"endTime":1957.972,"body":"Venture backed or inchoate back"},{"speaker":"Perry Zheng","startTime":1954.662,"endTime":1957.972,"body":"startup in just a few months."},{"speaker":"Perry Zheng","startTime":1958.512,"endTime":1963.982,"body":"Then then I continued to do one"},{"speaker":"Perry Zheng","startTime":1958.512,"endTime":1963.982,"body":"syndication every nine months to a year."},{"speaker":"Perry Zheng","startTime":1964.382,"endTime":1968.402,"body":"So I don't think I will be"},{"speaker":"Perry Zheng","startTime":1964.382,"endTime":1968.402,"body":"a full-time syndicator ever."},{"speaker":"Perry Zheng","startTime":1968.652,"endTime":1973.982,"body":"Just because I don't believe that I want"},{"speaker":"Perry Zheng","startTime":1968.652,"endTime":1973.982,"body":"to be a full-time asset manager in a way."},{"speaker":"Perry Zheng","startTime":1974.312,"endTime":1974.612,"body":"I think."},{"speaker":"Perry Zheng","startTime":1975.307,"endTime":1976.477,"body":"Not ambassador Decatur."},{"speaker":"Perry Zheng","startTime":1976.777,"endTime":1981.097,"body":"But I also know that there are way"},{"speaker":"Perry Zheng","startTime":1976.777,"endTime":1981.097,"body":"better syndicators out there that I am"},{"speaker":"Perry Zheng","startTime":1981.227,"endTime":1987.187,"body":"just from a mindset and just from a like"},{"speaker":"Perry Zheng","startTime":1981.227,"endTime":1987.187,"body":"passion perspective my passion lies in"},{"speaker":"Perry Zheng","startTime":1987.187,"endTime":1992.917,"body":"technology and building a ecosystem and"},{"speaker":"Perry Zheng","startTime":1987.187,"endTime":1992.917,"body":"a marketplace so that the best indicators"},{"speaker":"Perry Zheng","startTime":1993.137,"endTime":1995.417,"body":"don't have to look for equity ever again."},{"speaker":"Perry Zheng","startTime":1995.757,"endTime":1998.037,"body":"If they are the best"},{"speaker":"Perry Zheng","startTime":1995.757,"endTime":1998.037,"body":"indicators by definition."},{"speaker":"Perry Zheng","startTime":1998.572,"endTime":1999.772,"body":"The money should go to them."},{"speaker":"Perry Zheng","startTime":2000.312,"endTime":2001.962,"body":"And they're not the greatest indicator."},{"speaker":"Perry Zheng","startTime":2001.972,"endTime":2008.002,"body":"So the goose indicators goose indicators,"},{"speaker":"Perry Zheng","startTime":2001.972,"endTime":2008.002,"body":"it's capability passion and integrity."},{"speaker":"Perry Zheng","startTime":2008.212,"endTime":2011.782,"body":"Those three things define"},{"speaker":"Perry Zheng","startTime":2008.212,"endTime":2011.782,"body":"how a deal is going to work."},{"speaker":"Perry Zheng","startTime":2012.072,"endTime":2014.472,"body":"And if they have all of those,"},{"speaker":"Perry Zheng","startTime":2012.072,"endTime":2014.472,"body":"they shouldn't worry about money."},{"speaker":"Perry Zheng","startTime":2014.562,"endTime":2017.812,"body":"If they don't have them, then"},{"speaker":"Perry Zheng","startTime":2014.562,"endTime":2017.812,"body":"maybe they should be knowing."},{"speaker":"Average Joe Finances","startTime":2019.682,"endTime":2021.362,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":2019.682,"endTime":2021.362,"body":"Perry that's all great points."},{"speaker":"Average Joe Finances","startTime":2021.582,"endTime":2024.732,"body":"And one of the things I wrote down"},{"speaker":"Average Joe Finances","startTime":2021.582,"endTime":2024.732,"body":"here because this kind of stands out"},{"speaker":"Average Joe Finances","startTime":2024.732,"endTime":2028.502,"body":"to me is how you're talking about,"},{"speaker":"Average Joe Finances","startTime":2024.732,"endTime":2028.502,"body":"you enjoy the syndications, right?"},{"speaker":"Average Joe Finances","startTime":2028.502,"endTime":2031.332,"body":"But you're not entirely sure that"},{"speaker":"Average Joe Finances","startTime":2028.502,"endTime":2031.332,"body":"this is what you want to keep doing,"},{"speaker":"Average Joe Finances","startTime":2031.332,"endTime":2034.102,"body":"because you don't want to be an asset"},{"speaker":"Average Joe Finances","startTime":2031.332,"endTime":2034.102,"body":"manager, for the rest of your life."},{"speaker":"Average Joe Finances","startTime":2034.462,"endTime":2038.362,"body":"But at the same time, the way I'm"},{"speaker":"Average Joe Finances","startTime":2034.462,"endTime":2038.362,"body":"looking at it from that statement is"},{"speaker":"Average Joe Finances","startTime":2038.902,"endTime":2040.552,"body":"pretty much like it's a means to an end."},{"speaker":"Average Joe Finances","startTime":2041.367,"endTime":2044.387,"body":"For you to push your startup even further."},{"speaker":"Average Joe Finances","startTime":2044.497,"endTime":2048.987,"body":"So you've got this experience you've"},{"speaker":"Average Joe Finances","startTime":2044.497,"endTime":2048.987,"body":"learned and what those pain points are"},{"speaker":"Average Joe Finances","startTime":2049.047,"endTime":2050.477,"body":"for those that are in the syndications."},{"speaker":"Average Joe Finances","startTime":2050.527,"endTime":2055.057,"body":"And you're providing a"},{"speaker":"Average Joe Finances","startTime":2050.527,"endTime":2055.057,"body":"solution to a problem."},{"speaker":"Average Joe Finances","startTime":2055.107,"endTime":2056.737,"body":"And that's what every good business does."},{"speaker":"Average Joe Finances","startTime":2056.737,"endTime":2057.337,"body":"There's a problem."},{"speaker":"Average Joe Finances","startTime":2058.072,"endTime":2061.642,"body":"Somebody comes in with a solution and"},{"speaker":"Average Joe Finances","startTime":2058.072,"endTime":2061.642,"body":"that becomes the business, which is"},{"speaker":"Average Joe Finances","startTime":2061.642,"endTime":2062.812,"body":"exactly what you're doing right now."},{"speaker":"Average Joe Finances","startTime":2062.812,"endTime":2063.712,"body":"So that's fantastic."},{"speaker":"Average Joe Finances","startTime":2063.712,"endTime":2067.302,"body":"So you take, the headaches that, all"},{"speaker":"Average Joe Finances","startTime":2063.712,"endTime":2067.302,"body":"these main syndicators and general"},{"speaker":"Average Joe Finances","startTime":2067.302,"endTime":2071.532,"body":"partners are having, and you alleviate"},{"speaker":"Average Joe Finances","startTime":2067.302,"endTime":2071.532,"body":"that, and this becomes your bread"},{"speaker":"Average Joe Finances","startTime":2071.532,"endTime":2073.062,"body":"and butter moving into the future."},{"speaker":"Average Joe Finances","startTime":2073.392,"endTime":2076.482,"body":"And this hyper-growth that you're"},{"speaker":"Average Joe Finances","startTime":2073.392,"endTime":2076.482,"body":"experiencing is absolutely amazing."},{"speaker":"Average Joe Finances","startTime":2076.482,"endTime":2080.622,"body":"And I think it also goes into"},{"speaker":"Average Joe Finances","startTime":2076.482,"endTime":2080.622,"body":"the, to, to the point of what you"},{"speaker":"Average Joe Finances","startTime":2080.622,"endTime":2081.702,"body":"were talking about before is how."},{"speaker":"Average Joe Finances","startTime":2082.302,"endTime":2086.252,"body":"There's more and more people now"},{"speaker":"Average Joe Finances","startTime":2082.302,"endTime":2086.252,"body":"coming in and doing syndication deals."},{"speaker":"Average Joe Finances","startTime":2086.252,"endTime":2091.322,"body":"So the need now is growing to, to have"},{"speaker":"Average Joe Finances","startTime":2086.252,"endTime":2091.322,"body":"some type of system in place that could,"},{"speaker":"Average Joe Finances","startTime":2091.322,"endTime":2093.122,"body":"that can help some of these folks out."},{"speaker":"Average Joe Finances","startTime":2093.402,"endTime":2096.402,"body":"I know I have a lot of people that listen"},{"speaker":"Average Joe Finances","startTime":2093.402,"endTime":2096.402,"body":"to my podcasts that are general partners."},{"speaker":"Average Joe Finances","startTime":2096.402,"endTime":2099.102,"body":"So if you listen to this, you"},{"speaker":"Average Joe Finances","startTime":2096.402,"endTime":2099.102,"body":"probably definitely want to check"},{"speaker":"Average Joe Finances","startTime":2099.102,"endTime":2100.852,"body":"out what Perry's working on here."},{"speaker":"Average Joe Finances","startTime":2100.852,"endTime":2102.262,"body":"It's a, it sounds pretty amazing."},{"speaker":"Average Joe Finances","startTime":2102.312,"endTime":2106.652,"body":"All I gotta ask you though, for"},{"speaker":"Average Joe Finances","startTime":2102.312,"endTime":2106.652,"body":"now with your experience over the"},{"speaker":"Average Joe Finances","startTime":2106.652,"endTime":2109.172,"body":"past however, W when did you start?"},{"speaker":"Average Joe Finances","startTime":2109.172,"endTime":2110.552,"body":"When did you start your first indication"},{"speaker":"Perry Zheng","startTime":2111.042,"endTime":2114.422,"body":"about a syndication"},{"speaker":"Perry Zheng","startTime":2111.042,"endTime":2114.422,"body":"it's only three years ago, first"},{"speaker":"Perry Zheng","startTime":2114.992,"endTime":2118.172,"body":"property, only 2015, so 674."},{"speaker":"Average Joe Finances","startTime":2118.442,"endTime":2118.712,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":2118.712,"endTime":2123.362,"body":"So what what a great experience in"},{"speaker":"Average Joe Finances","startTime":2118.712,"endTime":2123.362,"body":"the last, five to six years that"},{"speaker":"Average Joe Finances","startTime":2123.362,"endTime":2125.952,"body":"you've had and explosive growth."},{"speaker":"Average Joe Finances","startTime":2126.312,"endTime":2130.422,"body":"So for somebody that is a full-time"},{"speaker":"Average Joe Finances","startTime":2126.312,"endTime":2130.422,"body":"working professional and they're"},{"speaker":"Average Joe Finances","startTime":2130.422,"endTime":2133.572,"body":"ready to get started, we already"},{"speaker":"Average Joe Finances","startTime":2130.422,"endTime":2133.572,"body":"know they need that motivation."},{"speaker":"Average Joe Finances","startTime":2133.572,"endTime":2134.412,"body":"We talked about that."},{"speaker":"Average Joe Finances","startTime":2134.867,"endTime":2139.007,"body":"But do you have any other like last"},{"speaker":"Average Joe Finances","startTime":2134.867,"endTime":2139.007,"body":"tips or tricks that you think would"},{"speaker":"Average Joe Finances","startTime":2139.007,"endTime":2143.687,"body":"benefit somebody who says, okay,"},{"speaker":"Average Joe Finances","startTime":2139.007,"endTime":2143.687,"body":"today's the day I've made the decision."},{"speaker":"Average Joe Finances","startTime":2143.747,"endTime":2147.497,"body":"I want to go invest in real estate,"},{"speaker":"Average Joe Finances","startTime":2143.747,"endTime":2147.497,"body":"whether it's single family or they want"},{"speaker":"Average Joe Finances","startTime":2147.497,"endTime":2150.057,"body":"to go straight into multi-family what"},{"speaker":"Average Joe Finances","startTime":2147.497,"endTime":2150.057,"body":"would you say to somebody like that?"},{"speaker":"Perry Zheng","startTime":2151.072,"endTime":2155.722,"body":"Yeah, I will say if you have"},{"speaker":"Perry Zheng","startTime":2151.072,"endTime":2155.722,"body":"a W2 job, focus on getting your primary"},{"speaker":"Perry Zheng","startTime":2155.722,"endTime":2158.032,"body":"residence, that you can house hack."},{"speaker":"Perry Zheng","startTime":2158.692,"endTime":2163.432,"body":"If you have a family and you don't"},{"speaker":"Perry Zheng","startTime":2158.692,"endTime":2163.432,"body":"want to house hack steal by your"},{"speaker":"Perry Zheng","startTime":2163.432,"endTime":2167.362,"body":"primary residence, perhaps I do, plus"},{"speaker":"Perry Zheng","startTime":2163.432,"endTime":2167.362,"body":"that you rent out the other part."},{"speaker":"Perry Zheng","startTime":2167.932,"endTime":2172.402,"body":"If you cannot do that, do then"},{"speaker":"Perry Zheng","startTime":2167.932,"endTime":2172.402,"body":"buy your first rental property."},{"speaker":"Perry Zheng","startTime":2172.462,"endTime":2174.592,"body":"It could be a single"},{"speaker":"Perry Zheng","startTime":2172.462,"endTime":2174.592,"body":"family and that's totally."},{"speaker":"Perry Zheng","startTime":2175.212,"endTime":2175.602,"body":"Okay."},{"speaker":"Perry Zheng","startTime":2175.912,"endTime":2180.232,"body":"I believe that they should at"},{"speaker":"Perry Zheng","startTime":2175.912,"endTime":2180.232,"body":"least be a landlord or try to be a"},{"speaker":"Perry Zheng","startTime":2180.232,"endTime":2184.482,"body":"landlord to see how bad it is and"},{"speaker":"Perry Zheng","startTime":2180.232,"endTime":2184.482,"body":"then decide if they want to invest"},{"speaker":"Perry Zheng","startTime":2184.482,"endTime":2188.622,"body":"this indication because it allows you"},{"speaker":"Perry Zheng","startTime":2184.482,"endTime":2188.622,"body":"to appreciate the syndication path."},{"speaker":"Perry Zheng","startTime":2188.832,"endTime":2189.162,"body":"Okay."},{"speaker":"Perry Zheng","startTime":2189.292,"endTime":2191.122,"body":"To appreciate being a passive investor."},{"speaker":"Perry Zheng","startTime":2191.122,"endTime":2195.102,"body":"I do nothing about I, I gave"},{"speaker":"Perry Zheng","startTime":2191.122,"endTime":2195.102,"body":"a, I gave this talk as well."},{"speaker":"Perry Zheng","startTime":2195.162,"endTime":2198.522,"body":"I live in 200 plus people"},{"speaker":"Perry Zheng","startTime":2195.162,"endTime":2198.522,"body":"show up to my bronc back."},{"speaker":"Perry Zheng","startTime":2198.942,"endTime":2203.592,"body":"And one of the questions is if you're"},{"speaker":"Perry Zheng","startTime":2198.942,"endTime":2203.592,"body":"a W2 employee and you wonder if this"},{"speaker":"Perry Zheng","startTime":2203.592,"endTime":2208.512,"body":"is the right time to buy real estate,"},{"speaker":"Perry Zheng","startTime":2203.592,"endTime":2208.512,"body":"that may not be the question to ask."},{"speaker":"Perry Zheng","startTime":2208.822,"endTime":2212.702,"body":"Almost every time is a good"},{"speaker":"Perry Zheng","startTime":2208.822,"endTime":2212.702,"body":"time to buy real estate focus."},{"speaker":"Perry Zheng","startTime":2213.332,"endTime":2217.112,"body":"And the crap, but not where"},{"speaker":"Perry Zheng","startTime":2213.332,"endTime":2217.112,"body":"in the market cycle we are."},{"speaker":"Perry Zheng","startTime":2217.682,"endTime":2222.122,"body":"If you're one of the best investors"},{"speaker":"Perry Zheng","startTime":2217.682,"endTime":2222.122,"body":"and you doing things 80 cents on a"},{"speaker":"Perry Zheng","startTime":2222.122,"endTime":2226.382,"body":"totter, because you have relationships"},{"speaker":"Perry Zheng","startTime":2222.122,"endTime":2226.382,"body":"to general contractors and so on."},{"speaker":"Perry Zheng","startTime":2227.222,"endTime":2231.222,"body":"Even if there is a down term"},{"speaker":"Perry Zheng","startTime":2227.222,"endTime":2231.222,"body":"you cannot be fine because you"},{"speaker":"Perry Zheng","startTime":2231.372,"endTime":2232.992,"body":"did everything conservatively."},{"speaker":"Perry Zheng","startTime":2233.412,"endTime":2238.252,"body":"Don't focus on, try to see if"},{"speaker":"Perry Zheng","startTime":2233.412,"endTime":2238.252,"body":"we are the right time or not."},{"speaker":"Perry Zheng","startTime":2238.442,"endTime":2244.002,"body":"You will not know, but what you can"},{"speaker":"Perry Zheng","startTime":2238.442,"endTime":2244.002,"body":"know is get indicators and be better."},{"speaker":"Perry Zheng","startTime":2244.282,"endTime":2247.932,"body":"If you're one of the best, like your"},{"speaker":"Perry Zheng","startTime":2244.282,"endTime":2247.932,"body":"job, your military attack, if one of"},{"speaker":"Perry Zheng","startTime":2247.932,"endTime":2250.062,"body":"the best engineers working at Google."},{"speaker":"Perry Zheng","startTime":2250.657,"endTime":2253.657,"body":"I don't think you'll worry about"},{"speaker":"Perry Zheng","startTime":2250.657,"endTime":2253.657,"body":"there is a tech downturn because"},{"speaker":"Perry Zheng","startTime":2253.657,"endTime":2257.227,"body":"the Google engineer will have a"},{"speaker":"Perry Zheng","startTime":2253.657,"endTime":2257.227,"body":"much easier time finding a new job"},{"speaker":"Perry Zheng","startTime":2257.377,"endTime":2262.287,"body":"than some of who working at a non,"},{"speaker":"Perry Zheng","startTime":2257.377,"endTime":2262.287,"body":"second or third tier tech company."},{"speaker":"Average Joe Finances","startTime":2264.107,"endTime":2265.697,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":2264.107,"endTime":2265.697,"body":"right on that's fantastic."},{"speaker":"Average Joe Finances","startTime":2265.727,"endTime":2266.837,"body":"And great advice, right?"},{"speaker":"Average Joe Finances","startTime":2266.837,"endTime":2269.807,"body":"So if this is something that"},{"speaker":"Average Joe Finances","startTime":2266.837,"endTime":2269.807,"body":"you're looking to get into, go"},{"speaker":"Average Joe Finances","startTime":2269.807,"endTime":2273.497,"body":"feel that pain of that first rental"},{"speaker":"Average Joe Finances","startTime":2269.807,"endTime":2273.497,"body":"property and, learn to appreciate"},{"speaker":"Average Joe Finances","startTime":2273.577,"endTime":2275.077,"body":"all the joys that come with that."},{"speaker":"Average Joe Finances","startTime":2275.167,"endTime":2279.247,"body":"And the three o'clock in the morning"},{"speaker":"Average Joe Finances","startTime":2275.167,"endTime":2279.247,"body":"phone calls and things like that okay."},{"speaker":"Average Joe Finances","startTime":2279.247,"endTime":2280.267,"body":"Hey, fantastic Perry."},{"speaker":"Average Joe Finances","startTime":2280.287,"endTime":2281.317,"body":"I love that."},{"speaker":"Average Joe Finances","startTime":2281.317,"endTime":2282.217,"body":"That's that's awesome."},{"speaker":"Average Joe Finances","startTime":2282.247,"endTime":2284.627,"body":"Now this is the important question."},{"speaker":"Average Joe Finances","startTime":2284.657,"endTime":2287.027,"body":"The most important question that"},{"speaker":"Average Joe Finances","startTime":2284.657,"endTime":2287.027,"body":"we ask on this podcast, because."},{"speaker":"Average Joe Finances","startTime":2287.662,"endTime":2289.252,"body":"People that are listening"},{"speaker":"Average Joe Finances","startTime":2287.662,"endTime":2289.252,"body":"to this right now."},{"speaker":"Average Joe Finances","startTime":2289.312,"endTime":2291.652,"body":"They're like, Hey man this"},{"speaker":"Average Joe Finances","startTime":2289.312,"endTime":2291.652,"body":"guy is doing some great stuff."},{"speaker":"Average Joe Finances","startTime":2292.402,"endTime":2295.072,"body":"I really like, you know"},{"speaker":"Average Joe Finances","startTime":2292.402,"endTime":2295.072,"body":"what Perry is doing."},{"speaker":"Average Joe Finances","startTime":2295.072,"endTime":2299.272,"body":"And I want to learn more about"},{"speaker":"Average Joe Finances","startTime":2295.072,"endTime":2299.272,"body":"him and maybe even check out his"},{"speaker":"Average Joe Finances","startTime":2299.272,"endTime":2300.472,"body":"startup that he's doing right now."},{"speaker":"Average Joe Finances","startTime":2300.472,"endTime":2303.772,"body":"So if you could can you share"},{"speaker":"Average Joe Finances","startTime":2300.472,"endTime":2303.772,"body":"your website with us or any social"},{"speaker":"Average Joe Finances","startTime":2303.772,"endTime":2306.142,"body":"medias that you're comfortable"},{"speaker":"Average Joe Finances","startTime":2303.772,"endTime":2306.142,"body":"sharing with with our listeners?"},{"speaker":"Perry Zheng","startTime":2307.037,"endTime":2307.427,"body":"Yeah."},{"speaker":"Perry Zheng","startTime":2307.647,"endTime":2310.437,"body":"Just go to cash flow portal.com."},{"speaker":"Perry Zheng","startTime":2311.037,"endTime":2315.217,"body":"And you can click on the about"},{"speaker":"Perry Zheng","startTime":2311.037,"endTime":2315.217,"body":"page against cashflow portal.com."},{"speaker":"Perry Zheng","startTime":2315.547,"endTime":2318.967,"body":"You can email"},{"speaker":"Perry Zheng","startTime":2315.547,"endTime":2318.967,"body":"me@perryatcashflowportal.com."},{"speaker":"Perry Zheng","startTime":2319.397,"endTime":2322.247,"body":"Or you can just add me"},{"speaker":"Perry Zheng","startTime":2319.397,"endTime":2322.247,"body":"on LinkedIn or Facebook."},{"speaker":"Perry Zheng","startTime":2322.457,"endTime":2323.567,"body":"My name is Perry Zane."},{"speaker":"Perry Zheng","startTime":2323.717,"endTime":2326.087,"body":"I think there should be one"},{"speaker":"Perry Zheng","startTime":2323.717,"endTime":2326.087,"body":"or two parasites out there."},{"speaker":"Perry Zheng","startTime":2326.327,"endTime":2327.077,"body":"So yeah."},{"speaker":"Perry Zheng","startTime":2327.317,"endTime":2328.667,"body":"I'm happy to check with."},{"speaker":"Perry Zheng","startTime":2329.557,"endTime":2332.647,"body":"Upcoming, future real estate,"},{"speaker":"Perry Zheng","startTime":2329.557,"endTime":2332.647,"body":"syndicators, or current estate"},{"speaker":"Perry Zheng","startTime":2332.677,"endTime":2334.237,"body":"indicators about anything."},{"speaker":"Perry Zheng","startTime":2334.567,"endTime":2340.447,"body":"And if you have pain points with"},{"speaker":"Perry Zheng","startTime":2334.567,"endTime":2340.447,"body":"your, as an LP, as a GP with your"},{"speaker":"Perry Zheng","startTime":2340.447,"endTime":2344.117,"body":"software or with the whole, what"},{"speaker":"Perry Zheng","startTime":2340.447,"endTime":2344.117,"body":"you can do better just let me know."},{"speaker":"Perry Zheng","startTime":2344.147,"endTime":2348.077,"body":"I'm very curious to know"},{"speaker":"Perry Zheng","startTime":2344.147,"endTime":2348.077,"body":"how we can do things better."},{"speaker":"Average Joe Finances","startTime":2349.547,"endTime":2350.447,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":2350.457,"endTime":2352.387,"body":"And being able to accept that feedback."},{"speaker":"Average Joe Finances","startTime":2353.292,"endTime":2356.092,"body":"Only going to make things better"},{"speaker":"Average Joe Finances","startTime":2353.292,"endTime":2356.092,"body":"for what you know, with what you're"},{"speaker":"Average Joe Finances","startTime":2356.092,"endTime":2357.202,"body":"doing with the cashflow portal."},{"speaker":"Average Joe Finances","startTime":2357.202,"endTime":2359.532,"body":"And just, and for those"},{"speaker":"Average Joe Finances","startTime":2357.202,"endTime":2359.532,"body":"that are benefiting from the"},{"speaker":"Average Joe Finances","startTime":2359.532,"endTime":2360.552,"body":"service that you provide."},{"speaker":"Average Joe Finances","startTime":2360.552,"endTime":2361.722,"body":"Perry, that is fantastic."},{"speaker":"Average Joe Finances","startTime":2361.722,"endTime":2362.262,"body":"We'll make sure we have."},{"speaker":"Average Joe Finances","startTime":2363.027,"endTime":2366.477,"body":"All of those in the show notes,"},{"speaker":"Average Joe Finances","startTime":2363.027,"endTime":2366.477,"body":"we'll have links to your website as"},{"speaker":"Average Joe Finances","startTime":2366.477,"endTime":2369.267,"body":"well as your social media to make it"},{"speaker":"Average Joe Finances","startTime":2366.477,"endTime":2369.267,"body":"easier for those that are listening."},{"speaker":"Average Joe Finances","startTime":2369.267,"endTime":2371.487,"body":"And if you're driving, don't sit"},{"speaker":"Average Joe Finances","startTime":2369.267,"endTime":2371.487,"body":"here and try to do it on your"},{"speaker":"Average Joe Finances","startTime":2371.487,"endTime":2375.507,"body":"phone, pull over or wait until"},{"speaker":"Average Joe Finances","startTime":2371.487,"endTime":2375.507,"body":"another time and make a mental note."},{"speaker":"Average Joe Finances","startTime":2375.507,"endTime":2377.307,"body":"But either way, it's going to"},{"speaker":"Average Joe Finances","startTime":2375.507,"endTime":2377.307,"body":"be in the show notes and you can"},{"speaker":"Average Joe Finances","startTime":2377.307,"endTime":2378.507,"body":"copy and paste it from there."},{"speaker":"Average Joe Finances","startTime":2378.867,"endTime":2379.707,"body":"Make it easy for you."},{"speaker":"Average Joe Finances","startTime":2379.707,"endTime":2383.067,"body":"So Perry, this has been"},{"speaker":"Average Joe Finances","startTime":2379.707,"endTime":2383.067,"body":"an amazing conversation."},{"speaker":"Average Joe Finances","startTime":2383.507,"endTime":2384.687,"body":"I really enjoyed it."},{"speaker":"Average Joe Finances","startTime":2384.687,"endTime":2388.927,"body":"I really enjoyed picking your brain,"},{"speaker":"Average Joe Finances","startTime":2384.687,"endTime":2388.927,"body":"especially with the tech side of this."},{"speaker":"Average Joe Finances","startTime":2388.927,"endTime":2391.057,"body":"I think that was particularly very fun."},{"speaker":"Average Joe Finances","startTime":2391.722,"endTime":2393.272,"body":"Thanks again for joining me today."},{"speaker":"Average Joe Finances","startTime":2393.932,"endTime":2394.262,"body":"Thank you."},{"speaker":"Average Joe Finances","startTime":2395.222,"endTime":2395.642,"body":"All right on."},{"speaker":"Average Joe Finances","startTime":2395.642,"endTime":2396.272,"body":"We're out of here."}]}