{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.149,"endTime":0.989,"body":"Hey,"},{"speaker":"Average Joe Finances","startTime":0.149,"endTime":0.989,"body":"how's it going everybody."},{"speaker":"Average Joe Finances","startTime":0.989,"endTime":3.36,"body":"Welcome back to the average"},{"speaker":"Average Joe Finances","startTime":0.989,"endTime":3.36,"body":"Joe finances podcast."},{"speaker":"Average Joe Finances","startTime":3.39,"endTime":7.44,"body":"I'm your host, Mike, Cavaggioni,"},{"speaker":"Average Joe Finances","startTime":3.39,"endTime":7.44,"body":"and today's guest is Doug Spence."},{"speaker":"Average Joe Finances","startTime":7.74,"endTime":10.35,"body":"Doug is active duty in"},{"speaker":"Average Joe Finances","startTime":7.74,"endTime":10.35,"body":"the Navy, just like me."},{"speaker":"Average Joe Finances","startTime":10.59,"endTime":12.45,"body":"And he's been doing"},{"speaker":"Average Joe Finances","startTime":10.59,"endTime":12.45,"body":"this for over 12 years."},{"speaker":"Average Joe Finances","startTime":12.45,"endTime":15.78,"body":"He has a background in Naval"},{"speaker":"Average Joe Finances","startTime":12.45,"endTime":15.78,"body":"aviation, and he's been stationed in"},{"speaker":"Average Joe Finances","startTime":15.78,"endTime":17.49,"body":"San Diego for the last three years."},{"speaker":"Average Joe Finances","startTime":17.73,"endTime":18.69,"body":"Why does that matter?"},{"speaker":"Average Joe Finances","startTime":18.69,"endTime":21.45,"body":"We're going to get into that as we"},{"speaker":"Average Joe Finances","startTime":18.69,"endTime":21.45,"body":"talk a little further into this."},{"speaker":"Average Joe Finances","startTime":21.75,"endTime":27.72,"body":"So Doug owned single family rentals in"},{"speaker":"Average Joe Finances","startTime":21.75,"endTime":27.72,"body":"four other states, outside of California,"},{"speaker":"Average Joe Finances","startTime":27.72,"endTime":32.07,"body":"where he stationed he's a limited partner"},{"speaker":"Average Joe Finances","startTime":27.72,"endTime":32.07,"body":"on a mobile home park in Colorado as well."},{"speaker":"Average Joe Finances","startTime":32.38,"endTime":33.55,"body":"And just for context here."},{"speaker":"Average Joe Finances","startTime":33.55,"endTime":37.54,"body":"So you guys know Doug is originally"},{"speaker":"Average Joe Finances","startTime":33.55,"endTime":37.54,"body":"from Houston, Texas, so this all kind"},{"speaker":"Average Joe Finances","startTime":37.54,"endTime":39.67,"body":"of correlates into wait a second."},{"speaker":"Average Joe Finances","startTime":39.699,"endTime":42.1,"body":"He's in San Diego, California,"},{"speaker":"Average Joe Finances","startTime":39.699,"endTime":42.1,"body":"but he's invested in."},{"speaker":"Average Joe Finances","startTime":42.4,"endTime":46.089,"body":"In all these other states outside"},{"speaker":"Average Joe Finances","startTime":42.4,"endTime":46.089,"body":"of California, how does that work?"},{"speaker":"Average Joe Finances","startTime":46.239,"endTime":47.559,"body":"And that's what we're"},{"speaker":"Average Joe Finances","startTime":46.239,"endTime":47.559,"body":"going to get into today."},{"speaker":"Average Joe Finances","startTime":47.559,"endTime":50.931,"body":"Doug, I appreciate you taking the time"},{"speaker":"Average Joe Finances","startTime":47.559,"endTime":50.931,"body":"to talk with me and welcome to the show."},{"speaker":"Doug Spence","startTime":51.231,"endTime":52.071,"body":"Hey, thanks Mike."},{"speaker":"Doug Spence","startTime":52.071,"endTime":52.851,"body":"Happy to be here."},{"speaker":"Average Joe Finances","startTime":53.151,"endTime":53.781,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":53.781,"endTime":58.064,"body":"Hey, I gave like a small wave top of"},{"speaker":"Average Joe Finances","startTime":53.781,"endTime":58.064,"body":"who you are and what you're doing."},{"speaker":"Average Joe Finances","startTime":58.241,"endTime":61.331,"body":"And I'm really excited to talk"},{"speaker":"Average Joe Finances","startTime":58.241,"endTime":61.331,"body":"about this, especially because"},{"speaker":"Average Joe Finances","startTime":61.631,"endTime":63.086,"body":"I've done the investing."},{"speaker":"Average Joe Finances","startTime":63.254,"endTime":66.254,"body":"Out of state thing as well,"},{"speaker":"Average Joe Finances","startTime":63.254,"endTime":66.254,"body":"especially being in Hawaii."},{"speaker":"Average Joe Finances","startTime":66.254,"endTime":67.664,"body":"It is very expensive here."},{"speaker":"Average Joe Finances","startTime":67.964,"endTime":71.144,"body":"So if you could share a little"},{"speaker":"Average Joe Finances","startTime":67.964,"endTime":71.144,"body":"bit more about yourself and your"},{"speaker":"Average Joe Finances","startTime":71.144,"endTime":73.424,"body":"story, how did this get started?"},{"speaker":"Average Joe Finances","startTime":73.454,"endTime":74.714,"body":"Why real estate?"},{"speaker":"Average Joe Finances","startTime":75.064,"endTime":76.442,"body":"What made you get into this?"},{"speaker":"Doug Spence","startTime":76.592,"endTime":79.953,"body":"Yeah, originally from"},{"speaker":"Doug Spence","startTime":76.592,"endTime":79.953,"body":"Houston, Texas,  born and raised there"},{"speaker":"Doug Spence","startTime":80.193,"endTime":86.156,"body":"and graduated high school, went to"},{"speaker":"Doug Spence","startTime":80.193,"endTime":86.156,"body":"Baylor university in Waco, Texas, and"},{"speaker":"Doug Spence","startTime":86.216,"endTime":87.806,"body":"got my undergraduate degree there."},{"speaker":"Doug Spence","startTime":87.926,"endTime":88.586,"body":"And then."},{"speaker":"Doug Spence","startTime":89.001,"endTime":92.541,"body":"Went to Navy officer candidate"},{"speaker":"Doug Spence","startTime":89.001,"endTime":92.541,"body":"school in Newport, Rhode Island back"},{"speaker":"Doug Spence","startTime":92.541,"endTime":97.621,"body":"in 2009, went from there to flight"},{"speaker":"Doug Spence","startTime":92.541,"endTime":97.621,"body":"school down at Pensacola, Florida."},{"speaker":"Doug Spence","startTime":97.771,"endTime":103.003,"body":"And,  also in 2009 spent two years"},{"speaker":"Doug Spence","startTime":97.771,"endTime":103.003,"body":"living there, lived in,  then moved to"},{"speaker":"Doug Spence","startTime":103.123,"endTime":105.571,"body":"California in Lemoore for about a year."},{"speaker":"Doug Spence","startTime":105.721,"endTime":108.564,"body":"And then from there went"},{"speaker":"Doug Spence","startTime":105.721,"endTime":108.564,"body":"to my,  fleet squad."},{"speaker":"Doug Spence","startTime":108.781,"endTime":114.811,"body":"And in Japan, I lived in Japan from"},{"speaker":"Doug Spence","startTime":108.781,"endTime":114.811,"body":"2012 to 2015 and then moved back to"},{"speaker":"Doug Spence","startTime":114.811,"endTime":119.731,"body":"Pensacola to be a flight instructor at"},{"speaker":"Doug Spence","startTime":114.811,"endTime":119.731,"body":"the same squadron that I winged from."},{"speaker":"Doug Spence","startTime":120.031,"endTime":122.761,"body":"And it was on that tour"},{"speaker":"Doug Spence","startTime":120.031,"endTime":122.761,"body":"that I bought my first."},{"speaker":"Doug Spence","startTime":123.061,"endTime":123.631,"body":"Property."},{"speaker":"Doug Spence","startTime":123.661,"endTime":127.171,"body":"So that was a primary residence,"},{"speaker":"Doug Spence","startTime":123.661,"endTime":127.171,"body":"single family home there in"},{"speaker":"Doug Spence","startTime":127.171,"endTime":129.593,"body":"Pensacola,  lived in it for two years."},{"speaker":"Doug Spence","startTime":129.653,"endTime":134.333,"body":"And then when I moved from Pensacola"},{"speaker":"Doug Spence","startTime":129.653,"endTime":134.333,"body":"to San Diego, I rented that out to"},{"speaker":"Doug Spence","startTime":134.333,"endTime":139.242,"body":"some flight school tenants,  that same"},{"speaker":"Doug Spence","startTime":134.333,"endTime":139.242,"body":"year,  in December of 2018,  I bought"},{"speaker":"Doug Spence","startTime":139.242,"endTime":141.802,"body":"my first dedicated investment property."},{"speaker":"Doug Spence","startTime":141.802,"endTime":145.252,"body":"So a property that I didn't live"},{"speaker":"Doug Spence","startTime":141.802,"endTime":145.252,"body":"in prior to renting out and I"},{"speaker":"Doug Spence","startTime":145.252,"endTime":147.252,"body":"purchased that through,  an awesome."},{"speaker":"Doug Spence","startTime":147.319,"endTime":151.525,"body":"Turnkey company,  it happened to go into,"},{"speaker":"Doug Spence","startTime":147.319,"endTime":151.525,"body":"turnkey and what that means and all that."},{"speaker":"Doug Spence","startTime":151.525,"endTime":155.948,"body":"But,  this company is started"},{"speaker":"Doug Spence","startTime":151.525,"endTime":155.948,"body":"by two Naval officers."},{"speaker":"Doug Spence","startTime":155.978,"endTime":159.098,"body":"They were roommates at the Naval"},{"speaker":"Doug Spence","startTime":155.978,"endTime":159.098,"body":"academy, awesome dudes named  and"},{"speaker":"Doug Spence","startTime":159.098,"endTime":163.436,"body":"David Gutierrez, and bought that"},{"speaker":"Doug Spence","startTime":159.098,"endTime":163.436,"body":"first property,  that for that first"},{"speaker":"Doug Spence","startTime":163.436,"endTime":165.386,"body":"dedicated investment property from them."},{"speaker":"Doug Spence","startTime":165.598,"endTime":168.838,"body":"And then over the next year,"},{"speaker":"Doug Spence","startTime":165.598,"endTime":168.838,"body":"I bought two more from them."},{"speaker":"Doug Spence","startTime":169.138,"endTime":169.968,"body":"Then."},{"speaker":"Doug Spence","startTime":170.268,"endTime":174.367,"body":"Gradually I kinda realized I really"},{"speaker":"Doug Spence","startTime":170.268,"endTime":174.367,"body":"had this real estate bug and I wanted"},{"speaker":"Doug Spence","startTime":174.367,"endTime":181.187,"body":"to ultimately replace my income and"},{"speaker":"Doug Spence","startTime":174.367,"endTime":181.187,"body":"my wife's W2 income with passive."},{"speaker":"Doug Spence","startTime":181.487,"endTime":182.927,"body":"Income from real estate."},{"speaker":"Doug Spence","startTime":183.167,"endTime":185.987,"body":"And I knew that I wouldn't be"},{"speaker":"Doug Spence","startTime":183.167,"endTime":185.987,"body":"able to do that if I was just"},{"speaker":"Doug Spence","startTime":185.987,"endTime":189.431,"body":"buying a turnkey property, once"},{"speaker":"Doug Spence","startTime":185.987,"endTime":189.431,"body":"a year, once every two years."},{"speaker":"Doug Spence","startTime":189.431,"endTime":194.949,"body":"So that's why I got more motivated"},{"speaker":"Doug Spence","startTime":189.431,"endTime":194.949,"body":"to really put my own team together,"},{"speaker":"Doug Spence","startTime":195.009,"endTime":199.407,"body":"identify a market,  and start"},{"speaker":"Doug Spence","startTime":195.009,"endTime":199.407,"body":"doing burgers out of state."},{"speaker":"Doug Spence","startTime":199.527,"endTime":202.133,"body":"And so that's what got me into Oklahoma."},{"speaker":"Doug Spence","startTime":202.471,"endTime":206.156,"body":"Where I did my first birth there"},{"speaker":"Doug Spence","startTime":202.471,"endTime":206.156,"body":"in Oklahoma city on a duplex."},{"speaker":"Doug Spence","startTime":206.306,"endTime":211.196,"body":"And I've been focusing on the Oklahoma"},{"speaker":"Doug Spence","startTime":206.306,"endTime":211.196,"body":"market, both Oklahoma city and Tulsa,"},{"speaker":"Doug Spence","startTime":211.47,"endTime":213.33,"body":"for the last year and a half now."},{"speaker":"Doug Spence","startTime":213.39,"endTime":217.219,"body":"So that's a overview of my"},{"speaker":"Doug Spence","startTime":213.39,"endTime":217.219,"body":"real estate background and"},{"speaker":"Doug Spence","startTime":217.469,"endTime":219.019,"body":"how I got to where I am today."},{"speaker":"Doug Spence","startTime":219.211,"endTime":221.403,"body":"And then I'm also,  just"},{"speaker":"Doug Spence","startTime":219.211,"endTime":221.403,"body":"three or four months ago."},{"speaker":"Doug Spence","startTime":221.403,"endTime":224.578,"body":"My wife and I closed on a primary"},{"speaker":"Doug Spence","startTime":221.403,"endTime":224.578,"body":"residence here in San Diego."},{"speaker":"Doug Spence","startTime":224.728,"endTime":227.518,"body":"And we used our VA loan"},{"speaker":"Doug Spence","startTime":224.728,"endTime":227.518,"body":"and it's a house act."},{"speaker":"Doug Spence","startTime":227.518,"endTime":232.055,"body":"So we rent out the bottom floor of this"},{"speaker":"Doug Spence","startTime":227.518,"endTime":232.055,"body":"house and that helps pay for our mortgage."},{"speaker":"Doug Spence","startTime":232.055,"endTime":234.087,"body":"So I'm happy to go and"},{"speaker":"Doug Spence","startTime":232.055,"endTime":234.087,"body":"go into that as well."},{"speaker":"Doug Spence","startTime":234.087,"endTime":237.273,"body":"I think the VA loan house SAC is"},{"speaker":"Doug Spence","startTime":234.087,"endTime":237.273,"body":"a great way for military folks"},{"speaker":"Doug Spence","startTime":237.273,"endTime":238.567,"body":"to build wealth in real estate."},{"speaker":"Average Joe Finances","startTime":238.717,"endTime":239.467,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":239.467,"endTime":242.437,"body":"So there's a lot of things to unpack here."},{"speaker":"Average Joe Finances","startTime":242.437,"endTime":246.487,"body":"And I really liked that cause you're"},{"speaker":"Average Joe Finances","startTime":242.437,"endTime":246.487,"body":"touching on a bunch of different pieces"},{"speaker":"Average Joe Finances","startTime":246.787,"endTime":248.437,"body":"of the real estate investing industry."},{"speaker":"Average Joe Finances","startTime":248.513,"endTime":249.868,"body":"And it all started off."},{"speaker":"Average Joe Finances","startTime":249.868,"endTime":252.8,"body":"It's funny because you became like"},{"speaker":"Average Joe Finances","startTime":249.868,"endTime":252.8,"body":"an accidental landlord, right?"},{"speaker":"Average Joe Finances","startTime":252.828,"endTime":257.228,"body":"You bought that property in Pensacola,"},{"speaker":"Average Joe Finances","startTime":252.828,"endTime":257.228,"body":"Florida, and then PCS, to Lemoore, barf."},{"speaker":"Average Joe Finances","startTime":257.564,"endTime":258.069,"body":"And and then."},{"speaker":"Average Joe Finances","startTime":258.286,"endTime":260.776,"body":"You had to do something with it,"},{"speaker":"Average Joe Finances","startTime":258.286,"endTime":260.776,"body":"you had to run it out or sell it."},{"speaker":"Average Joe Finances","startTime":260.806,"endTime":264.376,"body":"So you decided to rent it out and"},{"speaker":"Average Joe Finances","startTime":260.806,"endTime":264.376,"body":"got that taste of being a landlord."},{"speaker":"Average Joe Finances","startTime":264.456,"endTime":267.709,"body":"And I don't know if it's that, what,  is"},{"speaker":"Average Joe Finances","startTime":264.456,"endTime":267.709,"body":"that the bug that initially made you want"},{"speaker":"Average Joe Finances","startTime":267.709,"endTime":271.315,"body":"to get into real estate or do you know,"},{"speaker":"Average Joe Finances","startTime":267.709,"endTime":271.315,"body":"like before then that, you know, Hey,"},{"speaker":"Average Joe Finances","startTime":271.315,"endTime":274.465,"body":"you know what, I'm going to turn this"},{"speaker":"Average Joe Finances","startTime":271.315,"endTime":274.465,"body":"into a rental property because I want to"},{"speaker":"Average Joe Finances","startTime":274.465,"endTime":276.564,"body":"start, becoming a real estate investor."},{"speaker":"Average Joe Finances","startTime":276.613,"endTime":279.013,"body":"What was that moment where"},{"speaker":"Average Joe Finances","startTime":276.613,"endTime":279.013,"body":"the switch flipped for you?"},{"speaker":"Average Joe Finances","startTime":279.013,"endTime":280.493,"body":"And you said, this is"},{"speaker":"Average Joe Finances","startTime":279.013,"endTime":280.493,"body":"what I'm going to do."},{"speaker":"Doug Spence","startTime":280.643,"endTime":280.883,"body":"Yeah."},{"speaker":"Doug Spence","startTime":280.883,"endTime":283.873,"body":"So I, a buddy of mine from high"},{"speaker":"Doug Spence","startTime":280.883,"endTime":283.873,"body":"school, he and I were both, I would"},{"speaker":"Doug Spence","startTime":283.873,"endTime":285.403,"body":"consider personal finance nerd."},{"speaker":"Doug Spence","startTime":285.403,"endTime":287.593,"body":"So we read rich dad,"},{"speaker":"Doug Spence","startTime":285.403,"endTime":287.593,"body":"poor dad back in the day."},{"speaker":"Doug Spence","startTime":287.593,"endTime":289.989,"body":"And, we were really into"},{"speaker":"Doug Spence","startTime":287.593,"endTime":289.989,"body":"all that kind of stuff."},{"speaker":"Doug Spence","startTime":289.989,"endTime":293.199,"body":"And so he's the one who told me"},{"speaker":"Doug Spence","startTime":289.989,"endTime":293.199,"body":"about the bigger pockets podcast."},{"speaker":"Doug Spence","startTime":293.499,"endTime":296.196,"body":"And so I started listening to"},{"speaker":"Doug Spence","startTime":293.499,"endTime":296.196,"body":"that, like many people there,"},{"speaker":"Doug Spence","startTime":296.406,"endTime":298.156,"body":"their origin story starts with."},{"speaker":"Doug Spence","startTime":298.186,"endTime":299.956,"body":"Rich dad, poor dad and bigger pockets."},{"speaker":"Doug Spence","startTime":299.956,"endTime":302.44,"body":"So boring, because that's"},{"speaker":"Doug Spence","startTime":299.956,"endTime":302.44,"body":"exactly how I started."},{"speaker":"Doug Spence","startTime":302.74,"endTime":303.88,"body":"That's how everyone starts."},{"speaker":"Doug Spence","startTime":303.894,"endTime":307.016,"body":"But,  but yeah, so he got me into"},{"speaker":"Doug Spence","startTime":303.894,"endTime":307.016,"body":"the podcast and that's, that was"},{"speaker":"Doug Spence","startTime":307.016,"endTime":308.186,"body":"a real light bulb moment for me."},{"speaker":"Doug Spence","startTime":308.236,"endTime":310.989,"body":"Oh my gosh, you don't have"},{"speaker":"Doug Spence","startTime":308.236,"endTime":310.989,"body":"to be, super rich like Donald"},{"speaker":"Doug Spence","startTime":310.989,"endTime":312.144,"body":"Trump to get into real estate."},{"speaker":"Doug Spence","startTime":312.157,"endTime":315.972,"body":"Just normal folks, average Joe's if"},{"speaker":"Doug Spence","startTime":312.157,"endTime":315.972,"body":"you will,  can get into real estate."},{"speaker":"Doug Spence","startTime":315.972,"endTime":317.428,"body":"You started learning more about it."},{"speaker":"Doug Spence","startTime":317.428,"endTime":321.733,"body":"And then I realized that the house I was"},{"speaker":"Doug Spence","startTime":317.428,"endTime":321.733,"body":"renting there in Pensacola,  I could own"},{"speaker":"Doug Spence","startTime":321.733,"endTime":328.641,"body":"a house that was newer, bigger and nicer,"},{"speaker":"Doug Spence","startTime":321.733,"endTime":328.641,"body":"and my mortgage payment will be $400 less"},{"speaker":"Doug Spence","startTime":328.641,"endTime":330.051,"body":"a month than what I was renting for us."},{"speaker":"Doug Spence","startTime":330.351,"endTime":333.951,"body":"That was my basic deal"},{"speaker":"Doug Spence","startTime":330.351,"endTime":333.951,"body":"analysis for my first deal."},{"speaker":"Doug Spence","startTime":334.221,"endTime":338.07,"body":"And it wasn't, even though it was"},{"speaker":"Doug Spence","startTime":334.221,"endTime":338.07,"body":"very rudimentary,  it wasn't wrong."},{"speaker":"Doug Spence","startTime":338.111,"endTime":340.961,"body":"I was right about it and I"},{"speaker":"Doug Spence","startTime":338.111,"endTime":340.961,"body":"ended up renting it out for even"},{"speaker":"Doug Spence","startTime":340.961,"endTime":342.471,"body":"more than I thought I could."},{"speaker":"Doug Spence","startTime":342.771,"endTime":347.283,"body":"And I just lucked into that and that"},{"speaker":"Doug Spence","startTime":342.771,"endTime":347.283,"body":"property has appreciated, not quite"},{"speaker":"Doug Spence","startTime":347.283,"endTime":351.541,"body":"a hundred percent, but pretty close"},{"speaker":"Doug Spence","startTime":347.283,"endTime":351.541,"body":"just since I bought it back in 2016."},{"speaker":"Doug Spence","startTime":351.541,"endTime":355.0,"body":"That's how I got into, and then really"},{"speaker":"Doug Spence","startTime":351.541,"endTime":355.0,"body":"with that first property, it really"},{"speaker":"Doug Spence","startTime":355.0,"endTime":360.006,"body":"seeing the benefits of real estate and"},{"speaker":"Doug Spence","startTime":355.0,"endTime":360.006,"body":"not just cashflow, but also,  depreciation"},{"speaker":"Doug Spence","startTime":360.006,"endTime":364.886,"body":"and all the tax advantages and debt pay"},{"speaker":"Doug Spence","startTime":360.006,"endTime":364.886,"body":"down and how it really wasn't that much"},{"speaker":"Doug Spence","startTime":364.886,"endTime":366.691,"body":"more work than I thought it would be."},{"speaker":"Doug Spence","startTime":366.691,"endTime":369.105,"body":"And it was pretty simple as long"},{"speaker":"Doug Spence","startTime":366.691,"endTime":369.105,"body":"as you have good tenants in there."},{"speaker":"Doug Spence","startTime":369.105,"endTime":373.024,"body":"That was a big learning moment for me"},{"speaker":"Doug Spence","startTime":369.105,"endTime":373.024,"body":"was just that first property getting over"},{"speaker":"Doug Spence","startTime":373.024,"endTime":374.734,"body":"that first hump and renting that out."},{"speaker":"Average Joe Finances","startTime":375.034,"endTime":376.354,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":375.034,"endTime":376.354,"body":"that's one of the biggest things"},{"speaker":"Average Joe Finances","startTime":376.354,"endTime":378.043,"body":"is getting that first one done."},{"speaker":"Average Joe Finances","startTime":378.073,"endTime":381.102,"body":"And,  speaking of bigger pockets, it's"},{"speaker":"Average Joe Finances","startTime":378.073,"endTime":381.102,"body":"pretty funny because that was one of"},{"speaker":"Average Joe Finances","startTime":381.102,"endTime":382.002,"body":"the things they were talking about."},{"speaker":"Average Joe Finances","startTime":382.002,"endTime":386.679,"body":"One of their most recent episodes is"},{"speaker":"Average Joe Finances","startTime":382.002,"endTime":386.679,"body":"that zero to one is always harder,"},{"speaker":"Average Joe Finances","startTime":386.769,"endTime":388.609,"body":"harder than like the one to a thousand."},{"speaker":"Average Joe Finances","startTime":388.759,"endTime":390.079,"body":"And it really is."},{"speaker":"Average Joe Finances","startTime":390.086,"endTime":393.945,"body":"It's getting that first one and just,"},{"speaker":"Average Joe Finances","startTime":390.086,"endTime":393.945,"body":"really making that decision and committing"},{"speaker":"Average Joe Finances","startTime":393.945,"endTime":396.465,"body":"yourself to getting into real estate."},{"speaker":"Average Joe Finances","startTime":396.615,"endTime":400.07,"body":"And by making that decision and by"},{"speaker":"Average Joe Finances","startTime":396.615,"endTime":400.07,"body":"getting into that first investment"},{"speaker":"Average Joe Finances","startTime":400.07,"endTime":404.569,"body":"property, you you started something even"},{"speaker":"Average Joe Finances","startTime":400.07,"endTime":404.569,"body":"bigger than you knew it was going to be."},{"speaker":"Average Joe Finances","startTime":404.754,"endTime":407.304,"body":"Now you said your very next"},{"speaker":"Average Joe Finances","startTime":404.754,"endTime":407.304,"body":"property that you bought, it"},{"speaker":"Average Joe Finances","startTime":407.304,"endTime":409.194,"body":"was a turnkey property, right?"},{"speaker":"Average Joe Finances","startTime":409.194,"endTime":412.773,"body":"So you go from the kind"},{"speaker":"Average Joe Finances","startTime":409.194,"endTime":412.773,"body":"of, accidental landlord."},{"speaker":"Average Joe Finances","startTime":412.789,"endTime":414.919,"body":"Property into a turnkey."},{"speaker":"Average Joe Finances","startTime":415.219,"endTime":419.021,"body":"So what made you look at going"},{"speaker":"Average Joe Finances","startTime":415.219,"endTime":419.021,"body":"into a turnkey next instead of."},{"speaker":"Average Joe Finances","startTime":419.171,"endTime":419.321,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":419.351,"endTime":421.041,"body":"Cause I know you went"},{"speaker":"Average Joe Finances","startTime":419.351,"endTime":421.041,"body":"from there to BRRRRs."},{"speaker":"Average Joe Finances","startTime":421.061,"endTime":422.921,"body":"So why didn't you get"},{"speaker":"Average Joe Finances","startTime":421.061,"endTime":422.921,"body":"into BRRRRs right away?"},{"speaker":"Average Joe Finances","startTime":422.921,"endTime":424.751,"body":"What made you want to get a turnkey?"},{"speaker":"Doug Spence","startTime":425.051,"endTime":428.298,"body":"So I was reading a"},{"speaker":"Doug Spence","startTime":425.051,"endTime":428.298,"body":"book,  one of my favorite real estate"},{"speaker":"Doug Spence","startTime":428.298,"endTime":431.422,"body":"books called long distance real"},{"speaker":"Doug Spence","startTime":428.298,"endTime":431.422,"body":"estate investing by David Green."},{"speaker":"Doug Spence","startTime":431.639,"endTime":435.213,"body":"And while I was reading that"},{"speaker":"Doug Spence","startTime":431.639,"endTime":435.213,"body":"book was a big light bulb moment."},{"speaker":"Doug Spence","startTime":435.243,"endTime":437.953,"body":"And then while I was reading the"},{"speaker":"Doug Spence","startTime":435.243,"endTime":437.953,"body":"book, I also listened to a podcast."},{"speaker":"Doug Spence","startTime":438.303,"endTime":441.309,"body":"Where Stu greasier was the guests that"},{"speaker":"Doug Spence","startTime":438.303,"endTime":441.309,"body":"he was talking about, his experience"},{"speaker":"Doug Spence","startTime":441.309,"endTime":446.079,"body":"with turnkey and why he started his own"},{"speaker":"Doug Spence","startTime":441.309,"endTime":446.079,"body":"turnkey company and he was a Navy pilot."},{"speaker":"Doug Spence","startTime":446.079,"endTime":450.018,"body":"And so I reached out to him and,  they"},{"speaker":"Doug Spence","startTime":446.079,"endTime":450.018,"body":"had just started as turnkey company that"},{"speaker":"Doug Spence","startTime":450.028,"endTime":452.358,"body":"the basics of turnkey is you're buying."},{"speaker":"Doug Spence","startTime":452.543,"endTime":454.163,"body":"You're buying a home that needs some work."},{"speaker":"Doug Spence","startTime":454.193,"endTime":455.693,"body":"You're putting some work into it."},{"speaker":"Doug Spence","startTime":456.009,"endTime":459.759,"body":"You're finding a tenant once the"},{"speaker":"Doug Spence","startTime":456.009,"endTime":459.759,"body":"work is complete and you're selling"},{"speaker":"Doug Spence","startTime":459.759,"endTime":463.159,"body":"that property to an investor and"},{"speaker":"Doug Spence","startTime":459.759,"endTime":463.159,"body":"it's cash flowing from day one."},{"speaker":"Doug Spence","startTime":463.159,"endTime":466.129,"body":"So you're getting a fully rehabbed"},{"speaker":"Doug Spence","startTime":463.159,"endTime":466.129,"body":"property with a tenant in place"},{"speaker":"Doug Spence","startTime":466.129,"endTime":467.669,"body":"that cashflow is from day one."},{"speaker":"Doug Spence","startTime":467.719,"endTime":472.022,"body":"So turnkey is a great way to get into"},{"speaker":"Doug Spence","startTime":467.719,"endTime":472.022,"body":"real estate because you're still buying"},{"speaker":"Doug Spence","startTime":472.022,"endTime":475.748,"body":"and owning the property, but you're not"},{"speaker":"Doug Spence","startTime":472.022,"endTime":475.748,"body":"doing all the work required to do it."},{"speaker":"Doug Spence","startTime":475.76,"endTime":476.036,"body":"That's."},{"speaker":"Doug Spence","startTime":476.186,"endTime":479.194,"body":"I think that was like a way for"},{"speaker":"Doug Spence","startTime":476.186,"endTime":479.194,"body":"me to dip my toe in the water of I"},{"speaker":"Doug Spence","startTime":479.194,"endTime":481.864,"body":"don't, I'm not living here first,"},{"speaker":"Doug Spence","startTime":479.194,"endTime":481.864,"body":"but I'm buying an investment."},{"speaker":"Doug Spence","startTime":481.894,"endTime":485.974,"body":"I had never been to Milwaukee before"},{"speaker":"Doug Spence","startTime":481.894,"endTime":485.974,"body":"buying the first two properties."},{"speaker":"Doug Spence","startTime":485.981,"endTime":489.799,"body":"And that's a whole other mental"},{"speaker":"Doug Spence","startTime":485.981,"endTime":489.799,"body":"hurdle for people to overcome."},{"speaker":"Doug Spence","startTime":489.829,"endTime":492.049,"body":"But,  for me that was another big."},{"speaker":"Doug Spence","startTime":492.116,"endTime":496.499,"body":"Not leap of faith, but it was another"},{"speaker":"Doug Spence","startTime":492.116,"endTime":496.499,"body":"obstacle once I overcame that,  thanks to"},{"speaker":"Doug Spence","startTime":496.649,"endTime":500.345,"body":"books and podcasts and talking to people,"},{"speaker":"Doug Spence","startTime":496.649,"endTime":500.345,"body":"then that made me more comfortable"},{"speaker":"Doug Spence","startTime":500.345,"endTime":504.89,"body":"to, to,  to put a team together and do"},{"speaker":"Doug Spence","startTime":500.345,"endTime":504.89,"body":"BRRRRs out of state, do my own deals."},{"speaker":"Doug Spence","startTime":504.89,"endTime":507.045,"body":"So it's all these like"},{"speaker":"Doug Spence","startTime":504.89,"endTime":507.045,"body":"building blocks know."},{"speaker":"Average Joe Finances","startTime":507.345,"endTime":507.465,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":507.476,"endTime":508.976,"body":"Let's talk about that transition, right?"},{"speaker":"Average Joe Finances","startTime":508.976,"endTime":512.546,"body":"Cause you, you got that first turned"},{"speaker":"Average Joe Finances","startTime":508.976,"endTime":512.546,"body":"key and then you went and got two"},{"speaker":"Average Joe Finances","startTime":512.546,"endTime":514.682,"body":"more and said, okay, this is great."},{"speaker":"Average Joe Finances","startTime":514.682,"endTime":515.582,"body":"A great start."},{"speaker":"Average Joe Finances","startTime":515.882,"endTime":519.41,"body":"But it's slow because the way that"},{"speaker":"Average Joe Finances","startTime":515.882,"endTime":519.41,"body":"you had to do it and you have to"},{"speaker":"Average Joe Finances","startTime":519.41,"endTime":521.93,"body":"build up that money for that down"},{"speaker":"Average Joe Finances","startTime":519.41,"endTime":521.93,"body":"payment to get that next one."},{"speaker":"Doug Spence","startTime":521.975,"endTime":522.425,"body":"Exactly."},{"speaker":"Average Joe Finances","startTime":522.425,"endTime":525.188,"body":"So you said, Hey,"},{"speaker":"Average Joe Finances","startTime":522.425,"endTime":525.188,"body":"what can I do to get into something,"},{"speaker":"Average Joe Finances","startTime":525.188,"endTime":527.258,"body":"to get more properties faster?"},{"speaker":"Average Joe Finances","startTime":527.258,"endTime":529.978,"body":"And that's when you started"},{"speaker":"Average Joe Finances","startTime":527.258,"endTime":529.978,"body":"looking at the burn method exactly."},{"speaker":"Average Joe Finances","startTime":529.988,"endTime":531.448,"body":"Started doing out of state bursts."},{"speaker":"Average Joe Finances","startTime":531.448,"endTime":535.448,"body":"So what was that transition like"},{"speaker":"Average Joe Finances","startTime":531.448,"endTime":535.448,"body":"going from the turnkey to the birds?"},{"speaker":"Average Joe Finances","startTime":535.748,"endTime":539.168,"body":"Was it something that was difficult"},{"speaker":"Average Joe Finances","startTime":535.748,"endTime":539.168,"body":"for you or did you find it easier?"},{"speaker":"Average Joe Finances","startTime":539.468,"endTime":541.508,"body":"And when did you build your team?"},{"speaker":"Doug Spence","startTime":541.808,"endTime":545.858,"body":"Yeah, so I think a big part"},{"speaker":"Doug Spence","startTime":541.808,"endTime":545.858,"body":"of this was joining a mastermind group"},{"speaker":"Doug Spence","startTime":545.888,"endTime":548.13,"body":"because I was getting,  joining the group."},{"speaker":"Doug Spence","startTime":548.28,"endTime":552.99,"body":"I was surrounding myself with people"},{"speaker":"Doug Spence","startTime":548.28,"endTime":552.99,"body":"that were doing similar things as me and"},{"speaker":"Doug Spence","startTime":552.99,"endTime":557.166,"body":"also people that were a few years ahead"},{"speaker":"Doug Spence","startTime":552.99,"endTime":557.166,"body":"of me, people that were doing flips and"},{"speaker":"Doug Spence","startTime":557.166,"endTime":561.022,"body":"BRRRRs out of state and, doing apartment"},{"speaker":"Doug Spence","startTime":557.166,"endTime":561.022,"body":"complexes and, being surrounded by those"},{"speaker":"Doug Spence","startTime":561.022,"endTime":565.372,"body":"folks and seeing what they're doing"},{"speaker":"Doug Spence","startTime":561.022,"endTime":565.372,"body":"inspired me like, oh, I, I can also do"},{"speaker":"Doug Spence","startTime":565.372,"endTime":569.11,"body":"this, cause I have a buddy who he was"},{"speaker":"Doug Spence","startTime":565.372,"endTime":569.11,"body":"starting to do BRRRRs while living,"},{"speaker":"Doug Spence","startTime":569.327,"endTime":571.277,"body":"while active duty living in England."},{"speaker":"Doug Spence","startTime":571.457,"endTime":575.168,"body":"And I'm like, if this guy can do burgers"},{"speaker":"Doug Spence","startTime":571.457,"endTime":575.168,"body":"from a different continent than I can"},{"speaker":"Doug Spence","startTime":575.168,"endTime":576.988,"body":"do it from a different state, and seeing"},{"speaker":"Average Joe Finances","startTime":577.035,"endTime":577.975,"body":"are you"},{"speaker":"Average Joe Finances","startTime":577.035,"endTime":577.975,"body":"talking about Michael Barnhart."},{"speaker":"Doug Spence","startTime":578.235,"endTime":578.745,"body":"Oh yeah."},{"speaker":"Doug Spence","startTime":578.955,"endTime":579.285,"body":"Oh yeah."},{"speaker":"Doug Spence","startTime":579.345,"endTime":579.665,"body":"Nice."},{"speaker":"Doug Spence","startTime":579.765,"endTime":583.391,"body":"See, seeing that, seeing talking"},{"speaker":"Doug Spence","startTime":579.765,"endTime":583.391,"body":"to him about that, I was like,"},{"speaker":"Doug Spence","startTime":583.391,"endTime":586.111,"body":"man, if this guy can do this,"},{"speaker":"Doug Spence","startTime":583.391,"endTime":586.111,"body":"like, why can't I, why can't I do."},{"speaker":"Doug Spence","startTime":586.179,"endTime":591.026,"body":"Bern, Oklahoma, or, so it, and if I hadn't"},{"speaker":"Doug Spence","startTime":586.179,"endTime":591.026,"body":"joined a mastermind group, I probably"},{"speaker":"Doug Spence","startTime":591.026,"endTime":594.866,"body":"would've gotten there eventually, but not"},{"speaker":"Doug Spence","startTime":591.026,"endTime":594.866,"body":"nearly as fast cause it, it inspired me."},{"speaker":"Doug Spence","startTime":595.136,"endTime":599.06,"body":"And then also, telling them my goals"},{"speaker":"Doug Spence","startTime":595.136,"endTime":599.06,"body":"and say, Hey, how do I do this?"},{"speaker":"Doug Spence","startTime":599.06,"endTime":602.814,"body":"And in the realization that"},{"speaker":"Doug Spence","startTime":599.06,"endTime":602.814,"body":"buying turnkey, wasn't going"},{"speaker":"Doug Spence","startTime":602.814,"endTime":603.564,"body":"to get me there because."},{"speaker":"Doug Spence","startTime":603.864,"endTime":605.514,"body":"Th that company that I bought from there."},{"speaker":"Doug Spence","startTime":605.514,"endTime":608.741,"body":"They're so awesome that now they"},{"speaker":"Doug Spence","startTime":605.514,"endTime":608.741,"body":"have a two year waiting list"},{"speaker":"Doug Spence","startTime":608.741,"endTime":609.751,"body":"to buy properties from them."},{"speaker":"Doug Spence","startTime":609.751,"endTime":613.017,"body":"I can't just buy one property every"},{"speaker":"Doug Spence","startTime":609.751,"endTime":613.017,"body":"two years and it hit my goals."},{"speaker":"Doug Spence","startTime":613.017,"endTime":615.721,"body":"That's what inspired me to start"},{"speaker":"Doug Spence","startTime":613.017,"endTime":615.721,"body":"doing my own BRRRRs and put"},{"speaker":"Doug Spence","startTime":615.721,"endTime":616.621,"body":"a team together and all that."},{"speaker":"Average Joe Finances","startTime":616.921,"endTime":617.731,"body":"Yeah, that's fantastic."},{"speaker":"Average Joe Finances","startTime":617.731,"endTime":620.515,"body":"And you see how funny that is though,"},{"speaker":"Average Joe Finances","startTime":617.731,"endTime":620.515,"body":"like right away you started describing"},{"speaker":"Average Joe Finances","startTime":620.515,"endTime":623.97,"body":"somebody,  and I'm just able to say,"},{"speaker":"Average Joe Finances","startTime":620.515,"endTime":623.97,"body":"oh, is it and that's just how, yeah."},{"speaker":"Average Joe Finances","startTime":623.97,"endTime":625.38,"body":"That's just how awesome the community is."},{"speaker":"Average Joe Finances","startTime":625.38,"endTime":629.063,"body":"It's small, but it's not like there's"},{"speaker":"Average Joe Finances","startTime":625.38,"endTime":629.063,"body":"a lot of investors out there, but one"},{"speaker":"Average Joe Finances","startTime":629.063,"endTime":631.403,"body":"of the things that's awesome is the"},{"speaker":"Average Joe Finances","startTime":629.063,"endTime":631.403,"body":"people that stick out to me that always"},{"speaker":"Average Joe Finances","startTime":631.403,"endTime":635.218,"body":"stick out in the back of my head are"},{"speaker":"Average Joe Finances","startTime":631.403,"endTime":635.218,"body":"people like Michael and Susie who."},{"speaker":"Average Joe Finances","startTime":635.435,"endTime":639.665,"body":"Who are actively trying to help"},{"speaker":"Average Joe Finances","startTime":635.435,"endTime":639.665,"body":"other people get started and"},{"speaker":"Average Joe Finances","startTime":639.665,"endTime":641.429,"body":"start investing in real estate."},{"speaker":"Average Joe Finances","startTime":641.729,"endTime":648.359,"body":"And I've, I have found that like 96,"},{"speaker":"Average Joe Finances","startTime":641.729,"endTime":648.359,"body":"90 7% of the people that I've met in"},{"speaker":"Average Joe Finances","startTime":648.359,"endTime":653.31,"body":"this particular community are always"},{"speaker":"Average Joe Finances","startTime":648.359,"endTime":653.31,"body":"willing to help and give advice and"},{"speaker":"Average Joe Finances","startTime":653.46,"endTime":655.02,"body":"help people get started like it."},{"speaker":"Average Joe Finances","startTime":655.32,"endTime":658.05,"body":"And it's not like they're doing any"},{"speaker":"Average Joe Finances","startTime":655.32,"endTime":658.05,"body":"handouts or anything like that, but"},{"speaker":"Average Joe Finances","startTime":658.35,"endTime":659.67,"body":"they're giving you that knowledge."},{"speaker":"Average Joe Finances","startTime":659.67,"endTime":661.71,"body":"So you can go and make"},{"speaker":"Average Joe Finances","startTime":659.67,"endTime":661.71,"body":"that educated decision."},{"speaker":"Average Joe Finances","startTime":662.01,"endTime":664.59,"body":"On your next steps on your journey, right?"},{"speaker":"Average Joe Finances","startTime":664.89,"endTime":665.82,"body":"Getting into this."},{"speaker":"Average Joe Finances","startTime":665.82,"endTime":668.036,"body":"So as we're talking about a"},{"speaker":"Average Joe Finances","startTime":665.82,"endTime":668.036,"body":"journey, cause that's what this"},{"speaker":"Average Joe Finances","startTime":668.096,"endTime":669.446,"body":"all is for all of us, right?"},{"speaker":"Average Joe Finances","startTime":669.635,"endTime":671.315,"body":"It's our journey and financial freedom."},{"speaker":"Average Joe Finances","startTime":671.615,"endTime":673.235,"body":"And you started off here."},{"speaker":"Average Joe Finances","startTime":673.235,"endTime":675.298,"body":"So you went from being the"},{"speaker":"Average Joe Finances","startTime":673.235,"endTime":675.298,"body":"accidental landlord to the"},{"speaker":"Average Joe Finances","startTime":675.298,"endTime":677.428,"body":"turnkey, to now doing these BRRRRs."},{"speaker":"Average Joe Finances","startTime":677.636,"endTime":678.296,"body":"And then from there."},{"speaker":"Average Joe Finances","startTime":678.596,"endTime":682.466,"body":"You went and became a limited partner"},{"speaker":"Average Joe Finances","startTime":678.596,"endTime":682.466,"body":"on a mobile home park in Colorado."},{"speaker":"Average Joe Finances","startTime":682.766,"endTime":686.516,"body":"So how did you, again, another"},{"speaker":"Average Joe Finances","startTime":682.766,"endTime":686.516,"body":"transitional period here, how did you go"},{"speaker":"Average Joe Finances","startTime":686.516,"endTime":691.122,"body":"from doing burgers to getting into being"},{"speaker":"Average Joe Finances","startTime":686.516,"endTime":691.122,"body":"a limited partner on, on a syndication?"},{"speaker":"Doug Spence","startTime":691.295,"endTime":692.165,"body":"Yeah great question."},{"speaker":"Doug Spence","startTime":692.165,"endTime":695.315,"body":"So I had just gotten back from"},{"speaker":"Doug Spence","startTime":692.165,"endTime":695.315,"body":"deployment and like many people"},{"speaker":"Doug Spence","startTime":695.355,"endTime":696.245,"body":"get back from deployment."},{"speaker":"Doug Spence","startTime":696.245,"endTime":701.336,"body":"They have a lot of capital in their bank"},{"speaker":"Doug Spence","startTime":696.245,"endTime":701.336,"body":"accounts, especially doing deployments"},{"speaker":"Doug Spence","startTime":701.336,"endTime":703.226,"body":"where you get tax-free and all that."},{"speaker":"Doug Spence","startTime":703.226,"endTime":707.727,"body":"I got back and Stu, Graziers same"},{"speaker":"Doug Spence","startTime":703.226,"endTime":707.727,"body":"guy who started that company was a"},{"speaker":"Doug Spence","startTime":707.877,"endTime":710.057,"body":"GP in this mobile home park deal."},{"speaker":"Doug Spence","startTime":710.057,"endTime":710.397,"body":"And he said that."},{"speaker":"Doug Spence","startTime":710.74,"endTime":713.17,"body":"We have this opportunity,"},{"speaker":"Doug Spence","startTime":710.74,"endTime":713.17,"body":"it's 50 K minimum investment."},{"speaker":"Doug Spence","startTime":713.17,"endTime":714.83,"body":"And I was like, I've"},{"speaker":"Doug Spence","startTime":713.17,"endTime":714.83,"body":"saved up a lot of money."},{"speaker":"Doug Spence","startTime":714.83,"endTime":717.32,"body":"Like this seems like a good,"},{"speaker":"Doug Spence","startTime":714.83,"endTime":717.32,"body":"seems like a good opportunity."},{"speaker":"Doug Spence","startTime":717.32,"endTime":719.99,"body":"And the key there was, it was with"},{"speaker":"Doug Spence","startTime":717.32,"endTime":719.99,"body":"people that I trusted, if it was just"},{"speaker":"Doug Spence","startTime":719.99,"endTime":723.83,"body":"with some random person, I wouldn't"},{"speaker":"Doug Spence","startTime":719.99,"endTime":723.83,"body":"have done it, but I trusted Stu."},{"speaker":"Doug Spence","startTime":723.83,"endTime":726.213,"body":"I said, Hey Stu, you are you putting"},{"speaker":"Doug Spence","startTime":723.83,"endTime":726.213,"body":"your own money into this deal?"},{"speaker":"Doug Spence","startTime":726.213,"endTime":726.813,"body":"And he said, yep."},{"speaker":"Doug Spence","startTime":726.813,"endTime":728.673,"body":"And I said, all right, good"},{"speaker":"Doug Spence","startTime":726.813,"endTime":728.673,"body":"enough for me, let's do it."},{"speaker":"Doug Spence","startTime":728.89,"endTime":733.3,"body":"And I didn't know much about"},{"speaker":"Doug Spence","startTime":728.89,"endTime":733.3,"body":"syndications and, but I trusted Stu"},{"speaker":"Doug Spence","startTime":733.461,"endTime":735.848,"body":"and David and those two guys and."},{"speaker":"Doug Spence","startTime":736.016,"endTime":737.846,"body":"That's what, that's a"},{"speaker":"Doug Spence","startTime":736.016,"endTime":737.846,"body":"whole other conversation."},{"speaker":"Doug Spence","startTime":737.846,"endTime":741.248,"body":"It's like this, the speed of trust"},{"speaker":"Doug Spence","startTime":737.846,"endTime":741.248,"body":"and the power of trust and how that"},{"speaker":"Doug Spence","startTime":741.248,"endTime":745.404,"body":"can, can accelerate relationships and"},{"speaker":"Doug Spence","startTime":741.248,"endTime":745.404,"body":"accelerate people's investing careers."},{"speaker":"Doug Spence","startTime":745.404,"endTime":747.223,"body":"But yeah, that's how I"},{"speaker":"Doug Spence","startTime":745.404,"endTime":747.223,"body":"got into that syndication."},{"speaker":"Average Joe Finances","startTime":747.373,"endTime":748.273,"body":"Yeah, that's fantastic."},{"speaker":"Average Joe Finances","startTime":748.273,"endTime":750.363,"body":"And actually,  that's something I want"},{"speaker":"Average Joe Finances","startTime":748.273,"endTime":750.363,"body":"to touch on a little bit too, because I"},{"speaker":"Average Joe Finances","startTime":750.393,"endTime":753.453,"body":"just recently did my first syndicaion, not"},{"speaker":"Average Joe Finances","startTime":750.393,"endTime":753.453,"body":"too long ago, it was a limited partner."},{"speaker":"Average Joe Finances","startTime":753.453,"endTime":757.087,"body":"And one of the biggest things,"},{"speaker":"Average Joe Finances","startTime":753.453,"endTime":757.087,"body":"that drove me into doing it"},{"speaker":"Average Joe Finances","startTime":757.087,"endTime":759.607,"body":"is trusting the GPS, right?"},{"speaker":"Average Joe Finances","startTime":759.607,"endTime":762.127,"body":"Trusting the people that are"},{"speaker":"Average Joe Finances","startTime":759.607,"endTime":762.127,"body":"putting together the deal."},{"speaker":"Average Joe Finances","startTime":762.427,"endTime":765.681,"body":"And it's some folks that I've been talking"},{"speaker":"Average Joe Finances","startTime":762.427,"endTime":765.681,"body":"to and working with for quite some time"},{"speaker":"Average Joe Finances","startTime":765.843,"endTime":767.963,"body":"and really built up a good relationship."},{"speaker":"Average Joe Finances","startTime":768.223,"endTime":771.283,"body":"And when I see what they're doing,"},{"speaker":"Average Joe Finances","startTime":768.223,"endTime":771.283,"body":"and I saw some other deals that they"},{"speaker":"Average Joe Finances","startTime":771.283,"endTime":772.873,"body":"did, I'm like, okay, you know what?"},{"speaker":"Average Joe Finances","startTime":772.873,"endTime":774.365,"body":"This is the real deal I'm going to get in."},{"speaker":"Average Joe Finances","startTime":774.365,"endTime":776.329,"body":"And on this next one, and I did."},{"speaker":"Average Joe Finances","startTime":776.629,"endTime":781.06,"body":"And, I don't think I would ever"},{"speaker":"Average Joe Finances","startTime":776.629,"endTime":781.06,"body":"invest, excuse me, with a team that."},{"speaker":"Average Joe Finances","startTime":781.277,"endTime":784.291,"body":"Is not putting their own money into it."},{"speaker":"Average Joe Finances","startTime":784.349,"endTime":786.425,"body":"They're not,  they have no stake right."},{"speaker":"Average Joe Finances","startTime":786.575,"endTime":787.535,"body":"When they're doing it that way."},{"speaker":"Average Joe Finances","startTime":787.535,"endTime":790.286,"body":"That's,  another key point then"},{"speaker":"Average Joe Finances","startTime":787.535,"endTime":790.286,"body":"I think that's super important."},{"speaker":"Average Joe Finances","startTime":790.316,"endTime":792.857,"body":"So thank you for pointing that"},{"speaker":"Average Joe Finances","startTime":790.316,"endTime":792.857,"body":"out, that that he was putting"},{"speaker":"Average Joe Finances","startTime":792.857,"endTime":794.057,"body":"his own money into it as well."},{"speaker":"Average Joe Finances","startTime":794.262,"endTime":798.456,"body":"Now you're touching on these three"},{"speaker":"Average Joe Finances","startTime":794.262,"endTime":798.456,"body":"different aspects of real estate."},{"speaker":"Average Joe Finances","startTime":798.456,"endTime":803.187,"body":"So I want to ask you which one so"},{"speaker":"Average Joe Finances","startTime":798.456,"endTime":803.187,"body":"far is your favorite investment."},{"speaker":"Doug Spence","startTime":803.352,"endTime":806.802,"body":"Man for me personally,"},{"speaker":"Doug Spence","startTime":803.352,"endTime":806.802,"body":"I really like the BRRRR method,"},{"speaker":"Doug Spence","startTime":806.832,"endTime":810.222,"body":"but the thing with the BRRRR"},{"speaker":"Doug Spence","startTime":806.832,"endTime":810.222,"body":"is it's not for everyone."},{"speaker":"Doug Spence","startTime":810.222,"endTime":814.062,"body":"Cause some people love real estate"},{"speaker":"Doug Spence","startTime":810.222,"endTime":814.062,"body":"they've they understand the value of real"},{"speaker":"Doug Spence","startTime":814.062,"endTime":815.887,"body":"estate, but they want it to be passive."},{"speaker":"Doug Spence","startTime":816.157,"endTime":821.097,"body":"And if someone wants passive"},{"speaker":"Doug Spence","startTime":816.157,"endTime":821.097,"body":"investments, I'd say syndications would"},{"speaker":"Doug Spence","startTime":821.097,"endTime":822.627,"body":"probably be number one after that."},{"speaker":"Doug Spence","startTime":822.627,"endTime":826.261,"body":"Maybe turnkey because you full"},{"speaker":"Doug Spence","startTime":822.627,"endTime":826.261,"body":"turnkey, you have a property"},{"speaker":"Doug Spence","startTime":826.261,"endTime":829.601,"body":"manager, you have a lot of people"},{"speaker":"Doug Spence","startTime":826.261,"endTime":829.601,"body":"doing a lot of the work for you."},{"speaker":"Doug Spence","startTime":829.751,"endTime":830.381,"body":"Exactly."},{"speaker":"Doug Spence","startTime":830.381,"endTime":830.711,"body":"Yeah."},{"speaker":"Doug Spence","startTime":830.891,"endTime":833.026,"body":"But then you're still getting"},{"speaker":"Doug Spence","startTime":830.891,"endTime":833.026,"body":"a property and you're, yeah."},{"speaker":"Doug Spence","startTime":833.026,"endTime":835.046,"body":"You're having to deal with the"},{"speaker":"Doug Spence","startTime":833.026,"endTime":835.046,"body":"property management company"},{"speaker":"Doug Spence","startTime":835.046,"endTime":836.186,"body":"occasionally when there's issues."},{"speaker":"Doug Spence","startTime":836.186,"endTime":837.98,"body":"But for the most part,  it's passive."},{"speaker":"Doug Spence","startTime":838.058,"endTime":840.998,"body":"But if you're doing a BRRRR, man,"},{"speaker":"Doug Spence","startTime":838.058,"endTime":840.998,"body":"you've got to put the team together."},{"speaker":"Doug Spence","startTime":840.998,"endTime":843.398,"body":"You gotta figure out how"},{"speaker":"Doug Spence","startTime":840.998,"endTime":843.398,"body":"much work you want to do."},{"speaker":"Doug Spence","startTime":843.398,"endTime":844.448,"body":"You gotta find the deal."},{"speaker":"Doug Spence","startTime":844.448,"endTime":845.961,"body":"You gotta, find your lender."},{"speaker":"Doug Spence","startTime":845.961,"endTime":847.971,"body":"You gotta figure out how you're"},{"speaker":"Doug Spence","startTime":845.961,"endTime":847.971,"body":"going to do the cash out."},{"speaker":"Doug Spence","startTime":847.971,"endTime":848.391,"body":"Refi."},{"speaker":"Doug Spence","startTime":848.421,"endTime":851.181,"body":"You gotta figure out your private"},{"speaker":"Doug Spence","startTime":848.421,"endTime":851.181,"body":"lending or your heart money."},{"speaker":"Doug Spence","startTime":851.181,"endTime":851.931,"body":"How are you going to pay for."},{"speaker":"Doug Spence","startTime":851.94,"endTime":854.294,"body":"So there's a lot more involved,"},{"speaker":"Doug Spence","startTime":851.94,"endTime":854.294,"body":"but I love that stuff."},{"speaker":"Doug Spence","startTime":854.324,"endTime":858.71,"body":"I love the challenge of it and how"},{"speaker":"Doug Spence","startTime":854.324,"endTime":858.71,"body":"it's a much, I love how you could"},{"speaker":"Doug Spence","startTime":858.72,"endTime":862.55,"body":"own a cash flowing property with"},{"speaker":"Doug Spence","startTime":858.72,"endTime":862.55,"body":"zero of your own money in the deal."},{"speaker":"Doug Spence","startTime":862.68,"endTime":865.782,"body":"I think that is like such"},{"speaker":"Doug Spence","startTime":862.68,"endTime":865.782,"body":"an amazing that's what makes"},{"speaker":"Doug Spence","startTime":865.782,"endTime":866.902,"body":"it such an amazing strategy."},{"speaker":"Average Joe Finances","startTime":867.052,"endTime":867.382,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":867.382,"endTime":869.711,"body":"And by doing so you're"},{"speaker":"Average Joe Finances","startTime":867.382,"endTime":869.711,"body":"a lot more active in it."},{"speaker":"Average Joe Finances","startTime":869.711,"endTime":873.281,"body":"So you definitely like to have you"},{"speaker":"Average Joe Finances","startTime":869.711,"endTime":873.281,"body":"like to be a hands-on type person."},{"speaker":"Average Joe Finances","startTime":873.281,"endTime":874.001,"body":"I can see that."},{"speaker":"Average Joe Finances","startTime":874.218,"endTime":877.423,"body":"And that's why the BRRRR methods,"},{"speaker":"Average Joe Finances","startTime":874.218,"endTime":877.423,"body":"perfect for someone like you."},{"speaker":"Average Joe Finances","startTime":877.64,"endTime":878.06,"body":"Yeah."},{"speaker":"Doug Spence","startTime":878.09,"endTime":878.9,"body":"I liked that pocket."},{"speaker":"Doug Spence","startTime":879.2,"endTime":882.71,"body":"I liked that, but I also, it"},{"speaker":"Doug Spence","startTime":879.2,"endTime":882.71,"body":"also plays into real estate."},{"speaker":"Doug Spence","startTime":882.74,"endTime":886.389,"body":"We've touched on this so far,"},{"speaker":"Doug Spence","startTime":882.74,"endTime":886.389,"body":"but how it's such a team sport."},{"speaker":"Doug Spence","startTime":886.46,"endTime":890.343,"body":"And I think the reason that the folks"},{"speaker":"Doug Spence","startTime":886.46,"endTime":890.343,"body":"that are successful in real estate, th"},{"speaker":"Doug Spence","startTime":890.373,"endTime":893.733,"body":"there are people that help others because"},{"speaker":"Doug Spence","startTime":890.373,"endTime":893.733,"body":"someone helped them along the way."},{"speaker":"Doug Spence","startTime":893.733,"endTime":897.987,"body":"And so we all know that we,"},{"speaker":"Doug Spence","startTime":893.733,"endTime":897.987,"body":"no one got here by themselves."},{"speaker":"Doug Spence","startTime":898.137,"endTime":900.357,"body":"And so we have to pay it forward."},{"speaker":"Doug Spence","startTime":900.357,"endTime":903.12,"body":"And that's why I'm, in a master"},{"speaker":"Doug Spence","startTime":900.357,"endTime":903.12,"body":"I'm in two mastermind groups."},{"speaker":"Doug Spence","startTime":903.12,"endTime":906.188,"body":"So one of them is, I"},{"speaker":"Doug Spence","startTime":903.12,"endTime":906.188,"body":"love just being able to."},{"speaker":"Doug Spence","startTime":906.406,"endTime":909.286,"body":"Help military members"},{"speaker":"Doug Spence","startTime":906.406,"endTime":909.286,"body":"that are at the beginning."},{"speaker":"Doug Spence","startTime":909.577,"endTime":912.363,"body":"I still feel like I'm at the beginning"},{"speaker":"Doug Spence","startTime":909.577,"endTime":912.363,"body":"of my journey, real estate,  or"},{"speaker":"Doug Spence","startTime":912.363,"endTime":915.54,"body":"military members that maybe just"},{"speaker":"Doug Spence","startTime":912.363,"endTime":915.54,"body":"have one property or zero, they're"},{"speaker":"Doug Spence","startTime":915.54,"endTime":917.31,"body":"trying to get that portfolio going."},{"speaker":"Doug Spence","startTime":917.31,"endTime":920.88,"body":"I love helping them out and"},{"speaker":"Doug Spence","startTime":917.31,"endTime":920.88,"body":"passing my knowledge down to them."},{"speaker":"Doug Spence","startTime":920.88,"endTime":922.41,"body":"So that's one of my"},{"speaker":"Doug Spence","startTime":920.88,"endTime":922.41,"body":"favorite parts about it."},{"speaker":"Average Joe Finances","startTime":922.58,"endTime":924.587,"body":"That's what, that's,"},{"speaker":"Average Joe Finances","startTime":922.58,"endTime":924.587,"body":"what it's all about, is giving back."},{"speaker":"Average Joe Finances","startTime":924.632,"endTime":928.446,"body":"That's why I love doing what I do"},{"speaker":"Average Joe Finances","startTime":924.632,"endTime":928.446,"body":"with the podcast here is just this."},{"speaker":"Average Joe Finances","startTime":928.515,"endTime":932.099,"body":"It's an opportunity for me to share,"},{"speaker":"Average Joe Finances","startTime":928.515,"endTime":932.099,"body":"I bring on experts like you, that are"},{"speaker":"Average Joe Finances","startTime":932.099,"endTime":936.012,"body":"doing these awesome things, and you can"},{"speaker":"Average Joe Finances","startTime":932.099,"endTime":936.012,"body":"share that with the audience and they can"},{"speaker":"Average Joe Finances","startTime":936.012,"endTime":938.532,"body":"understand that, hey I can do this too."},{"speaker":"Average Joe Finances","startTime":938.832,"endTime":941.202,"body":"And that's why it's called"},{"speaker":"Average Joe Finances","startTime":938.832,"endTime":941.202,"body":"average Joe finances, right?"},{"speaker":"Average Joe Finances","startTime":941.202,"endTime":947.412,"body":"Because you can be a regular middle-class"},{"speaker":"Average Joe Finances","startTime":941.202,"endTime":947.412,"body":"type person and decide that, Hey,"},{"speaker":"Average Joe Finances","startTime":947.412,"endTime":949.81,"body":"it's time to take it to the next"},{"speaker":"Average Joe Finances","startTime":947.412,"endTime":949.81,"body":"level, take it to the next step."},{"speaker":"Average Joe Finances","startTime":949.88,"endTime":950.78,"body":"How am I going to get there?"},{"speaker":"Average Joe Finances","startTime":950.78,"endTime":951.303,"body":"What am I going to do?"},{"speaker":"Average Joe Finances","startTime":951.303,"endTime":952.728,"body":"Come listen to this podcast and see what."},{"speaker":"Average Joe Finances","startTime":952.728,"endTime":955.308,"body":"Some of these other folks are doing,"},{"speaker":"Average Joe Finances","startTime":952.728,"endTime":955.308,"body":"you can get a good idea, right?"},{"speaker":"Average Joe Finances","startTime":955.308,"endTime":958.284,"body":"So it's all about giving back and"},{"speaker":"Average Joe Finances","startTime":955.308,"endTime":958.284,"body":"that's, one of the things that I"},{"speaker":"Average Joe Finances","startTime":958.284,"endTime":961.284,"body":"love about this community, not just"},{"speaker":"Average Joe Finances","startTime":958.284,"endTime":961.284,"body":"real estate, but the personal finance"},{"speaker":"Average Joe Finances","startTime":961.284,"endTime":964.139,"body":"community as well, there's a lot"},{"speaker":"Average Joe Finances","startTime":961.284,"endTime":964.139,"body":"of people that are really awesome."},{"speaker":"Average Joe Finances","startTime":964.139,"endTime":965.196,"body":"There's some bad eggs."},{"speaker":"Average Joe Finances","startTime":965.226,"endTime":965.366,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":965.366,"endTime":966.786,"body":"You see a couple of them out there."},{"speaker":"Average Joe Finances","startTime":966.842,"endTime":968.741,"body":"And some people that take"},{"speaker":"Average Joe Finances","startTime":966.842,"endTime":968.741,"body":"advantage, which is not cool."},{"speaker":"Average Joe Finances","startTime":968.891,"endTime":970.211,"body":"There's not a lot of that."},{"speaker":"Average Joe Finances","startTime":970.614,"endTime":971.664,"body":"We're not all about that."},{"speaker":"Average Joe Finances","startTime":971.664,"endTime":972.654,"body":"Get rich quick thing."},{"speaker":"Average Joe Finances","startTime":972.654,"endTime":976.554,"body":"You really can't do that in this, but you,"},{"speaker":"Average Joe Finances","startTime":972.654,"endTime":976.554,"body":"what you can do is start building wealth"},{"speaker":"Average Joe Finances","startTime":976.554,"endTime":980.142,"body":"quickly and by building wealth, I always"},{"speaker":"Average Joe Finances","startTime":976.554,"endTime":980.142,"body":"say that there's a difference between."},{"speaker":"Average Joe Finances","startTime":980.218,"endTime":982.318,"body":"Rich and wealth being"},{"speaker":"Average Joe Finances","startTime":980.218,"endTime":982.318,"body":"rich and being wealthy."},{"speaker":"Average Joe Finances","startTime":982.515,"endTime":986.736,"body":"And,  one of the things about being"},{"speaker":"Average Joe Finances","startTime":982.515,"endTime":986.736,"body":"wealthy is, you don't have to, or"},{"speaker":"Average Joe Finances","startTime":987.006,"endTime":989.855,"body":"I guess, there's differences in the"},{"speaker":"Average Joe Finances","startTime":987.006,"endTime":989.855,"body":"way that people live their lives"},{"speaker":"Average Joe Finances","startTime":990.005,"endTime":991.475,"body":"being rich versus being wealthy."},{"speaker":"Average Joe Finances","startTime":991.475,"endTime":995.772,"body":"And one of the big things is, you can"},{"speaker":"Average Joe Finances","startTime":991.475,"endTime":995.772,"body":"live a humble life, but being wealthy"},{"speaker":"Average Joe Finances","startTime":995.862,"endTime":999.492,"body":"is where you get to the point where"},{"speaker":"Average Joe Finances","startTime":995.862,"endTime":999.492,"body":"you're financially free and you can"},{"speaker":"Average Joe Finances","startTime":999.492,"endTime":1001.112,"body":"go do the things that you want to do."},{"speaker":"Average Joe Finances","startTime":1001.412,"endTime":1006.229,"body":"Whereas being rich, you're constantly"},{"speaker":"Average Joe Finances","startTime":1001.412,"endTime":1006.229,"body":"struggling to keep up with, the"},{"speaker":"Average Joe Finances","startTime":1006.229,"endTime":1009.819,"body":"expenses that you keep creating for"},{"speaker":"Average Joe Finances","startTime":1006.229,"endTime":1009.819,"body":"yourself because you have all this"},{"speaker":"Average Joe Finances","startTime":1009.819,"endTime":1013.319,"body":"money and you'd like to spend it where"},{"speaker":"Average Joe Finances","startTime":1009.819,"endTime":1013.319,"body":"being wealthy is, you can actually"},{"speaker":"Average Joe Finances","startTime":1013.348,"endTime":1015.178,"body":"sit back and relax and enjoy life."},{"speaker":"Average Joe Finances","startTime":1015.349,"endTime":1018.265,"body":"And,  that's why, I love the fire"},{"speaker":"Average Joe Finances","startTime":1015.349,"endTime":1018.265,"body":"movement, but at the same time,"},{"speaker":"Average Joe Finances","startTime":1018.265,"endTime":1023.105,"body":"I always remove that R E from the"},{"speaker":"Average Joe Finances","startTime":1018.265,"endTime":1023.105,"body":"end, because like I'm reaching"},{"speaker":"Average Joe Finances","startTime":1023.105,"endTime":1024.395,"body":"financial independence this year, too."},{"speaker":"Average Joe Finances","startTime":1024.395,"endTime":1026.945,"body":"Right now I'm getting ready to retire"},{"speaker":"Average Joe Finances","startTime":1024.395,"endTime":1026.945,"body":"from the Navy and I'm going to be at"},{"speaker":"Average Joe Finances","startTime":1026.945,"endTime":1030.635,"body":"the point where all my expenses are"},{"speaker":"Average Joe Finances","startTime":1026.945,"endTime":1030.635,"body":"covered by my pension and my investments."},{"speaker":"Average Joe Finances","startTime":1030.935,"endTime":1031.835,"body":"And I'm good."},{"speaker":"Doug Spence","startTime":1031.954,"endTime":1032.764,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":1032.884,"endTime":1033.124,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1033.284,"endTime":1033.874,"body":"It's awesome."},{"speaker":"Average Joe Finances","startTime":1033.874,"endTime":1034.684,"body":"It's a great feeling."},{"speaker":"Average Joe Finances","startTime":1034.869,"endTime":1036.579,"body":"But at the same time,"},{"speaker":"Average Joe Finances","startTime":1034.869,"endTime":1036.579,"body":"like I'm not stopping."},{"speaker":"Average Joe Finances","startTime":1036.879,"endTime":1039.897,"body":"So I'm going to continue,"},{"speaker":"Average Joe Finances","startTime":1036.879,"endTime":1039.897,"body":"doing my thing as a realtor."},{"speaker":"Average Joe Finances","startTime":1040.197,"endTime":1042.237,"body":"I'm going to continue doing the podcast."},{"speaker":"Average Joe Finances","startTime":1042.267,"endTime":1044.567,"body":"I'm going to continue trying"},{"speaker":"Average Joe Finances","startTime":1042.267,"endTime":1044.567,"body":"to help people as much as I"},{"speaker":"Average Joe Finances","startTime":1044.567,"endTime":1046.577,"body":"can and building my businesses."},{"speaker":"Average Joe Finances","startTime":1046.877,"endTime":1049.854,"body":"And,  but the thing is"},{"speaker":"Average Joe Finances","startTime":1046.877,"endTime":1049.854,"body":"I can do it at my pace."},{"speaker":"Average Joe Finances","startTime":1050.004,"endTime":1051.534,"body":"I don't have to worry about."},{"speaker":"Average Joe Finances","startTime":1051.557,"endTime":1052.187,"body":"Anything else."},{"speaker":"Average Joe Finances","startTime":1052.187,"endTime":1053.777,"body":"And I could spend more"},{"speaker":"Average Joe Finances","startTime":1052.187,"endTime":1053.777,"body":"time with my family."},{"speaker":"Average Joe Finances","startTime":1054.077,"endTime":1057.956,"body":"And for me,  that's the most important"},{"speaker":"Average Joe Finances","startTime":1054.077,"endTime":1057.956,"body":"thing is that, that independence, that"},{"speaker":"Average Joe Finances","startTime":1057.956,"endTime":1059.396,"body":"freedom, that financial independence."},{"speaker":"Average Joe Finances","startTime":1059.396,"endTime":1061.802,"body":"So the,  the F I is what's huge to me."},{"speaker":"Average Joe Finances","startTime":1062.019,"endTime":1064.659,"body":"And I think one of the best ways"},{"speaker":"Average Joe Finances","startTime":1062.019,"endTime":1064.659,"body":"to get there as real estate man."},{"speaker":"Average Joe Finances","startTime":1064.659,"endTime":1065.918,"body":"And that's why we're talking about it."},{"speaker":"Average Joe Finances","startTime":1065.986,"endTime":1067.186,"body":"It's really exciting stuff."},{"speaker":"Average Joe Finances","startTime":1067.187,"endTime":1069.779,"body":"I'm right now for me, like"},{"speaker":"Average Joe Finances","startTime":1067.187,"endTime":1069.779,"body":"I'm more of a passive guy."},{"speaker":"Average Joe Finances","startTime":1069.779,"endTime":1072.717,"body":"Like I love syndications and that's"},{"speaker":"Average Joe Finances","startTime":1069.779,"endTime":1072.717,"body":"why, that's why that's what I'm doing."},{"speaker":"Average Joe Finances","startTime":1072.737,"endTime":1076.307,"body":"But at the same time, when I retire,"},{"speaker":"Average Joe Finances","startTime":1072.737,"endTime":1076.307,"body":"I'm thinking about getting into being a"},{"speaker":"Average Joe Finances","startTime":1076.307,"endTime":1081.029,"body":"little bit more active and doing things"},{"speaker":"Average Joe Finances","startTime":1076.307,"endTime":1081.029,"body":"like that now to get into the whole"},{"speaker":"Average Joe Finances","startTime":1081.089,"endTime":1085.138,"body":"active piece about it, especially talking"},{"speaker":"Average Joe Finances","startTime":1081.089,"endTime":1085.138,"body":"about the BRRRRs, I want to bring it back"},{"speaker":"Average Joe Finances","startTime":1085.138,"endTime":1087.046,"body":"to your piece here with being active."},{"speaker":"Average Joe Finances","startTime":1087.243,"endTime":1089.763,"body":"And you're doing out of state BRRRRs."},{"speaker":"Average Joe Finances","startTime":1089.783,"endTime":1094.041,"body":"So I want to ask you, because I have,"},{"speaker":"Average Joe Finances","startTime":1089.783,"endTime":1094.041,"body":"had some single family properties out"},{"speaker":"Average Joe Finances","startTime":1094.041,"endTime":1097.539,"body":"of state and I've run into issues,"},{"speaker":"Average Joe Finances","startTime":1094.041,"endTime":1097.539,"body":"especially during COVID where I"},{"speaker":"Average Joe Finances","startTime":1097.539,"endTime":1101.458,"body":"couldn't travel to get out there,"},{"speaker":"Average Joe Finances","startTime":1097.539,"endTime":1101.458,"body":"to do work on the property myself."},{"speaker":"Average Joe Finances","startTime":1101.458,"endTime":1104.458,"body":"So I'm doing everything sight"},{"speaker":"Average Joe Finances","startTime":1101.458,"endTime":1104.458,"body":"unseen, hiring contractors"},{"speaker":"Average Joe Finances","startTime":1104.528,"endTime":1105.298,"body":"and all that good stuff."},{"speaker":"Average Joe Finances","startTime":1105.492,"endTime":1108.102,"body":"How do you get around all that?"},{"speaker":"Average Joe Finances","startTime":1108.102,"endTime":1112.771,"body":"As you're funding, these deals purchasing"},{"speaker":"Average Joe Finances","startTime":1108.102,"endTime":1112.771,"body":"them while living in California, are"},{"speaker":"Average Joe Finances","startTime":1112.771,"endTime":1116.433,"body":"you actually going out there and finding"},{"speaker":"Average Joe Finances","startTime":1112.771,"endTime":1116.433,"body":"these properties or you find them"},{"speaker":"Average Joe Finances","startTime":1116.433,"endTime":1118.043,"body":"online and then you go take a look at."},{"speaker":"Average Joe Finances","startTime":1118.208,"endTime":1121.178,"body":"How are you piecing all of"},{"speaker":"Average Joe Finances","startTime":1118.208,"endTime":1121.178,"body":"this together from so far away?"},{"speaker":"Doug Spence","startTime":1121.478,"endTime":1122.258,"body":"Great question."},{"speaker":"Doug Spence","startTime":1122.318,"endTime":1123.188,"body":"It's challenging."},{"speaker":"Doug Spence","startTime":1123.258,"endTime":1125.25,"body":"So I have been to the"},{"speaker":"Doug Spence","startTime":1123.258,"endTime":1125.25,"body":"markets that I invest in."},{"speaker":"Doug Spence","startTime":1125.25,"endTime":1129.6,"body":"I have been to both Oklahoma city and"},{"speaker":"Doug Spence","startTime":1125.25,"endTime":1129.6,"body":"Tulsa and Milwaukee, even though I'm"},{"speaker":"Doug Spence","startTime":1129.6,"endTime":1133.18,"body":"not focusing on Milwaukee right now, but"},{"speaker":"Doug Spence","startTime":1129.6,"endTime":1133.18,"body":"I still have those properties, but,  I"},{"speaker":"Doug Spence","startTime":1133.18,"endTime":1137.15,"body":"decided on Oklahoma city first and just."},{"speaker":"Doug Spence","startTime":1137.45,"endTime":1140.9,"body":"Putting the network together"},{"speaker":"Doug Spence","startTime":1137.45,"endTime":1140.9,"body":"via BiggerPockets forums."},{"speaker":"Doug Spence","startTime":1140.959,"endTime":1143.239,"body":"You can find a lot of"},{"speaker":"Doug Spence","startTime":1140.959,"endTime":1143.239,"body":"information on there."},{"speaker":"Doug Spence","startTime":1143.424,"endTime":1147.954,"body":"For example, if you're looking to"},{"speaker":"Doug Spence","startTime":1143.424,"endTime":1147.954,"body":"invest in Yuma, Arizona, you can go"},{"speaker":"Doug Spence","startTime":1147.954,"endTime":1150.954,"body":"to BiggerPockets, start a thread."},{"speaker":"Doug Spence","startTime":1151.254,"endTime":1155.064,"body":"And say, Hey, what's the best property"},{"speaker":"Doug Spence","startTime":1151.254,"endTime":1155.064,"body":"management company at Yuma Arizona, and"},{"speaker":"Doug Spence","startTime":1155.064,"endTime":1159.715,"body":"everyone who's investing in Yuma has"},{"speaker":"Doug Spence","startTime":1155.064,"endTime":1159.715,"body":"keyword alerts set for Yuma, in their"},{"speaker":"Doug Spence","startTime":1159.715,"endTime":1162.29,"body":"bigger pockets and it'll pop up for them."},{"speaker":"Doug Spence","startTime":1162.29,"endTime":1164.12,"body":"And then you're going to"},{"speaker":"Doug Spence","startTime":1162.29,"endTime":1164.12,"body":"get a lot of information."},{"speaker":"Doug Spence","startTime":1164.12,"endTime":1165.05,"body":"It didn't you just pick up."},{"speaker":"Doug Spence","startTime":1165.35,"endTime":1168.14,"body":"There's going to be a few companies"},{"speaker":"Doug Spence","startTime":1165.35,"endTime":1168.14,"body":"that pop up more often than others."},{"speaker":"Doug Spence","startTime":1168.44,"endTime":1171.32,"body":"And then you just call those companies"},{"speaker":"Doug Spence","startTime":1168.44,"endTime":1171.32,"body":"and ask to talk to the owner or the"},{"speaker":"Doug Spence","startTime":1171.32,"endTime":1175.46,"body":"manager, and just pick their brains in"},{"speaker":"Doug Spence","startTime":1171.32,"endTime":1175.46,"body":"books, like long distance, real estate"},{"speaker":"Doug Spence","startTime":1175.46,"endTime":1178.1,"body":"investing and the bird book, and a"},{"speaker":"Doug Spence","startTime":1175.46,"endTime":1178.1,"body":"lot of other great real estate books."},{"speaker":"Doug Spence","startTime":1178.4,"endTime":1179.81,"body":"They tell you the questions to ask."},{"speaker":"Doug Spence","startTime":1179.81,"endTime":1182.69,"body":"So you can just sit there with the"},{"speaker":"Doug Spence","startTime":1179.81,"endTime":1182.69,"body":"book open and ask them those questions"},{"speaker":"Doug Spence","startTime":1182.99,"endTime":1184.73,"body":"and you'll get a, you'll get a vibe."},{"speaker":"Doug Spence","startTime":1184.73,"endTime":1186.23,"body":"You'll get a gut feeling from people."},{"speaker":"Doug Spence","startTime":1186.23,"endTime":1186.5,"body":"And then."},{"speaker":"Doug Spence","startTime":1186.8,"endTime":1190.01,"body":"Asked to talk to their references"},{"speaker":"Doug Spence","startTime":1186.8,"endTime":1190.01,"body":"and you can do this with not just"},{"speaker":"Doug Spence","startTime":1190.01,"endTime":1193.7,"body":"property management, but with"},{"speaker":"Doug Spence","startTime":1190.01,"endTime":1193.7,"body":"real estate agents, with lenders,"},{"speaker":"Doug Spence","startTime":1193.73,"endTime":1195.35,"body":"with contractors and all that."},{"speaker":"Doug Spence","startTime":1195.65,"endTime":1201.32,"body":"And really they'll all you need to"},{"speaker":"Doug Spence","startTime":1195.65,"endTime":1201.32,"body":"find is that one rockstar agent or"},{"speaker":"Doug Spence","startTime":1201.32,"endTime":1203.75,"body":"property manager or contractor usually."},{"speaker":"Doug Spence","startTime":1203.93,"endTime":1207.77,"body":"And then they're going to know everyone"},{"speaker":"Doug Spence","startTime":1203.93,"endTime":1207.77,"body":"else that you need to know because a great"},{"speaker":"Doug Spence","startTime":1207.77,"endTime":1211.25,"body":"property manager in a town they're going"},{"speaker":"Doug Spence","startTime":1207.77,"endTime":1211.25,"body":"to know who all the great contractors are."},{"speaker":"Doug Spence","startTime":1211.55,"endTime":1215.72,"body":"And so by tapping into one"},{"speaker":"Doug Spence","startTime":1211.55,"endTime":1215.72,"body":"rock star, Team member you're"},{"speaker":"Doug Spence","startTime":1215.72,"endTime":1217.64,"body":"tapping into everything else."},{"speaker":"Doug Spence","startTime":1217.69,"endTime":1220.15,"body":"And when you find that person, you"},{"speaker":"Doug Spence","startTime":1217.69,"endTime":1220.15,"body":"take care of that person and you"},{"speaker":"Doug Spence","startTime":1220.15,"endTime":1223.96,"body":"provide value to that person and"},{"speaker":"Doug Spence","startTime":1220.15,"endTime":1223.96,"body":"you give them referrals so that you"},{"speaker":"Doug Spence","startTime":1223.96,"endTime":1225.31,"body":"can, you don't want to be a taker."},{"speaker":"Doug Spence","startTime":1225.31,"endTime":1229.12,"body":"You always, my thought is I would just"},{"speaker":"Doug Spence","startTime":1225.31,"endTime":1229.12,"body":"want to be giving more than I'm receiving"},{"speaker":"Doug Spence","startTime":1229.524,"endTime":1235.705,"body":"but once you find that piece of that team,"},{"speaker":"Doug Spence","startTime":1229.524,"endTime":1235.705,"body":"Usually that will expand it out and the"},{"speaker":"Doug Spence","startTime":1235.705,"endTime":1237.415,"body":"rest of the pieces will fall into place."},{"speaker":"Doug Spence","startTime":1237.415,"endTime":1240.198,"body":"And then it's just about, there's"},{"speaker":"Doug Spence","startTime":1237.415,"endTime":1240.198,"body":"something we do in the military every"},{"speaker":"Doug Spence","startTime":1240.198,"endTime":1246.148,"body":"day is clearly communicating expectations"},{"speaker":"Doug Spence","startTime":1240.198,"endTime":1246.148,"body":"and then communicating well thereafter."},{"speaker":"Doug Spence","startTime":1246.148,"endTime":1250.444,"body":"If someone, if an agent or a lender asked"},{"speaker":"Doug Spence","startTime":1246.148,"endTime":1250.444,"body":"me, a question, about a property, like I"},{"speaker":"Doug Spence","startTime":1250.444,"endTime":1251.944,"body":"don't wait three or four days to answer."},{"speaker":"Doug Spence","startTime":1251.944,"endTime":1254.884,"body":"Like I answered as soon as I can, for"},{"speaker":"Doug Spence","startTime":1251.944,"endTime":1254.884,"body":"the most part, as long as it's something"},{"speaker":"Doug Spence","startTime":1254.884,"endTime":1257.774,"body":"time sensitive and you got to stay on"},{"speaker":"Doug Spence","startTime":1254.884,"endTime":1257.774,"body":"top of stuff, especially when it comes"},{"speaker":"Doug Spence","startTime":1257.774,"endTime":1261.312,"body":"to finding deals, you can't just, oh, let"},{"speaker":"Doug Spence","startTime":1257.774,"endTime":1261.312,"body":"me,  I'll get back to you a week from now."},{"speaker":"Doug Spence","startTime":1261.342,"endTime":1262.657,"body":"Cause if it's a deal it's gone."},{"speaker":"Doug Spence","startTime":1262.807,"endTime":1262.957,"body":"So yeah."},{"speaker":"Doug Spence","startTime":1263.257,"endTime":1265.237,"body":"But that's another thing we"},{"speaker":"Doug Spence","startTime":1263.257,"endTime":1265.237,"body":"can get into is deal funnel."},{"speaker":"Doug Spence","startTime":1265.316,"endTime":1268.764,"body":"I put together my own deal"},{"speaker":"Doug Spence","startTime":1265.316,"endTime":1268.764,"body":"funnel to source off-market leads"},{"speaker":"Doug Spence","startTime":1268.914,"endTime":1270.594,"body":"for these Oklahoma properties."},{"speaker":"Doug Spence","startTime":1270.594,"endTime":1275.352,"body":"And so that's how, I bought a property"},{"speaker":"Doug Spence","startTime":1270.594,"endTime":1275.352,"body":"in September there for $20,000."},{"speaker":"Doug Spence","startTime":1275.566,"endTime":1279.526,"body":"We're putting 55 into it and it's"},{"speaker":"Doug Spence","startTime":1275.566,"endTime":1279.526,"body":"going to be worth a little over"},{"speaker":"Doug Spence","startTime":1279.526,"endTime":1283.326,"body":"110,000 and we should be able"},{"speaker":"Doug Spence","startTime":1279.526,"endTime":1283.326,"body":"to rent it out for 1100 a month."},{"speaker":"Doug Spence","startTime":1283.356,"endTime":1285.996,"body":"And the reason we're able to make that"},{"speaker":"Doug Spence","startTime":1283.356,"endTime":1285.996,"body":"work is because we're able to get the"},{"speaker":"Doug Spence","startTime":1285.996,"endTime":1289.986,"body":"property so cheap because we're able"},{"speaker":"Doug Spence","startTime":1285.996,"endTime":1289.986,"body":"to market directly to those sellers."},{"speaker":"Doug Spence","startTime":1289.986,"endTime":1293.766,"body":"So I think that's another key part,"},{"speaker":"Doug Spence","startTime":1289.986,"endTime":1293.766,"body":"especially in this hot sellers"},{"speaker":"Doug Spence","startTime":1293.766,"endTime":1296.556,"body":"market, because if you're buying"},{"speaker":"Doug Spence","startTime":1293.766,"endTime":1296.556,"body":"stuff off the MLS, you're going to be"},{"speaker":"Doug Spence","startTime":1296.556,"endTime":1301.956,"body":"painful retail, and you're not going"},{"speaker":"Doug Spence","startTime":1296.556,"endTime":1301.956,"body":"to be able to add in that equity."},{"speaker":"Doug Spence","startTime":1302.316,"endTime":1303.889,"body":"What, like you need to, if you do a BRRRR."},{"speaker":"Average Joe Finances","startTime":1304.039,"endTime":1304.289,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1304.319,"endTime":1307.939,"body":"You're finding those off market pocket"},{"speaker":"Average Joe Finances","startTime":1304.319,"endTime":1307.939,"body":"listings that everybody's looking for."},{"speaker":"Average Joe Finances","startTime":1307.939,"endTime":1309.015,"body":"Let's get into that a little bit."},{"speaker":"Average Joe Finances","startTime":1309.083,"endTime":1310.283,"body":"How do you have that setup?"},{"speaker":"Average Joe Finances","startTime":1310.313,"endTime":1312.203,"body":"How are you finding"},{"speaker":"Average Joe Finances","startTime":1310.313,"endTime":1312.203,"body":"these off market deals?"},{"speaker":"Doug Spence","startTime":1312.353,"endTime":1315.508,"body":"Yeah, a lot of trial"},{"speaker":"Doug Spence","startTime":1312.353,"endTime":1315.508,"body":"and error, a lot of hours, a lot of"},{"speaker":"Doug Spence","startTime":1315.568,"endTime":1319.6,"body":"money spent not getting any deals"},{"speaker":"Doug Spence","startTime":1315.568,"endTime":1319.6,"body":"before it really started to pay off."},{"speaker":"Doug Spence","startTime":1319.66,"endTime":1324.015,"body":"But,  I started with, so I put the"},{"speaker":"Doug Spence","startTime":1319.66,"endTime":1324.015,"body":"team together in Oklahoma city and"},{"speaker":"Doug Spence","startTime":1324.015,"endTime":1326.925,"body":"very quickly I realized that none"},{"speaker":"Doug Spence","startTime":1324.015,"endTime":1326.925,"body":"of the deals that I was seeing"},{"speaker":"Doug Spence","startTime":1326.925,"endTime":1328.905,"body":"from wholesalers are on the MLS."},{"speaker":"Doug Spence","startTime":1328.935,"endTime":1331.849,"body":"None of them made sense"},{"speaker":"Doug Spence","startTime":1328.935,"endTime":1331.849,"body":"for my BRRRR criteria."},{"speaker":"Doug Spence","startTime":1331.911,"endTime":1335.191,"body":"So I realized pretty quickly that"},{"speaker":"Doug Spence","startTime":1331.911,"endTime":1335.191,"body":"I needed to find my own deal."},{"speaker":"Doug Spence","startTime":1335.211,"endTime":1336.181,"body":"So how do I do that?"},{"speaker":"Doug Spence","startTime":1336.255,"endTime":1336.845,"body":"I first start."},{"speaker":"Doug Spence","startTime":1336.912,"endTime":1339.729,"body":"I hired a VA to do cold calling,"},{"speaker":"Doug Spence","startTime":1336.912,"endTime":1339.729,"body":"did that for a couple of months."},{"speaker":"Doug Spence","startTime":1339.729,"endTime":1340.389,"body":"It didn't work."},{"speaker":"Doug Spence","startTime":1340.389,"endTime":1341.709,"body":"Didn't really get any good leads."},{"speaker":"Doug Spence","startTime":1341.949,"endTime":1342.939,"body":"Then I tried SMS."},{"speaker":"Doug Spence","startTime":1342.939,"endTime":1346.759,"body":"I was starting to get more leads in and"},{"speaker":"Doug Spence","startTime":1342.939,"endTime":1346.759,"body":"starting to gain some traction there."},{"speaker":"Doug Spence","startTime":1346.909,"endTime":1350.807,"body":"But then I realized that, having a W2"},{"speaker":"Doug Spence","startTime":1346.909,"endTime":1350.807,"body":"job, like I can't just sit at my computer"},{"speaker":"Doug Spence","startTime":1350.807,"endTime":1354.362,"body":"all day and, respond to text messages"},{"speaker":"Doug Spence","startTime":1350.807,"endTime":1354.362,"body":"and call these people back and all that."},{"speaker":"Doug Spence","startTime":1354.362,"endTime":1355.613,"body":"So I thought I needed."},{"speaker":"Doug Spence","startTime":1355.967,"endTime":1358.971,"body":"Who not how, so I need to"},{"speaker":"Doug Spence","startTime":1355.967,"endTime":1358.971,"body":"find someone that can do this."},{"speaker":"Doug Spence","startTime":1359.001,"endTime":1360.621,"body":"Not only do it, but do it better than me."},{"speaker":"Doug Spence","startTime":1360.921,"endTime":1365.351,"body":"So I hired a team of virtual"},{"speaker":"Doug Spence","startTime":1360.921,"endTime":1365.351,"body":"assistants to do it for me and."},{"speaker":"Doug Spence","startTime":1365.651,"endTime":1370.331,"body":"It's not cheap, but neither is"},{"speaker":"Doug Spence","startTime":1365.651,"endTime":1370.331,"body":"buying full retail off the MLS."},{"speaker":"Doug Spence","startTime":1370.611,"endTime":1374.533,"body":"Neither is buying off a wholesaler"},{"speaker":"Doug Spence","startTime":1370.611,"endTime":1374.533,"body":"because they have a 10, 15, 20 K"},{"speaker":"Doug Spence","startTime":1374.533,"endTime":1375.973,"body":"markup on a lot of their deals."},{"speaker":"Doug Spence","startTime":1375.973,"endTime":1378.613,"body":"So my thought is, you're going to,"},{"speaker":"Doug Spence","startTime":1375.973,"endTime":1378.613,"body":"you're going to pay it somewhere,"},{"speaker":"Doug Spence","startTime":1378.643,"endTime":1382.183,"body":"might as well, pay it for your own"},{"speaker":"Doug Spence","startTime":1378.643,"endTime":1382.183,"body":"deal funnel and get your own leads."},{"speaker":"Doug Spence","startTime":1382.303,"endTime":1385.973,"body":"So that's the system I have going"},{"speaker":"Doug Spence","startTime":1382.303,"endTime":1385.973,"body":"now and I have a great,  Real estate"},{"speaker":"Doug Spence","startTime":1385.973,"endTime":1389.192,"body":"agent there in Tulsa, that's investor"},{"speaker":"Doug Spence","startTime":1385.973,"endTime":1389.192,"body":"friendly and he's on board with"},{"speaker":"Doug Spence","startTime":1389.192,"endTime":1392.102,"body":"doing all this and go into gross"},{"speaker":"Doug Spence","startTime":1389.192,"endTime":1392.102,"body":"houses and getting one or contract."},{"speaker":"Doug Spence","startTime":1392.112,"endTime":1394.763,"body":"So it just got to find the right"},{"speaker":"Doug Spence","startTime":1392.112,"endTime":1394.763,"body":"members of the team, because most"},{"speaker":"Doug Spence","startTime":1394.763,"endTime":1397.343,"body":"real estate agents, they're not"},{"speaker":"Doug Spence","startTime":1394.763,"endTime":1397.343,"body":"going to be doing this kind of stuff."},{"speaker":"Doug Spence","startTime":1397.523,"endTime":1401.153,"body":"Most real estate agents want to be"},{"speaker":"Doug Spence","startTime":1397.523,"endTime":1401.153,"body":"selling families or dream homes for top"},{"speaker":"Doug Spence","startTime":1401.153,"endTime":1405.383,"body":"dollar, not go into dilapidated hoarder"},{"speaker":"Doug Spence","startTime":1401.153,"endTime":1405.383,"body":"houses and getting them under contract."},{"speaker":"Doug Spence","startTime":1405.424,"endTime":1407.214,"body":"So it's about finding the right people."},{"speaker":"Average Joe Finances","startTime":1407.364,"endTime":1408.234,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1408.504,"endTime":1411.924,"body":"And I can tell you as an agent"},{"speaker":"Average Joe Finances","startTime":1408.504,"endTime":1411.924,"body":"too, like I am, I'm all about,"},{"speaker":"Average Joe Finances","startTime":1411.965,"endTime":1413.399,"body":"helping investors out too, man."},{"speaker":"Average Joe Finances","startTime":1413.47,"endTime":1415.994,"body":"That's what it's all about because"},{"speaker":"Average Joe Finances","startTime":1413.47,"endTime":1415.994,"body":"it's, people are going to buy"},{"speaker":"Average Joe Finances","startTime":1415.994,"endTime":1417.794,"body":"the house regardless, right?"},{"speaker":"Average Joe Finances","startTime":1418.004,"endTime":1419.564,"body":"Why not be the one to help them get it?"},{"speaker":"Average Joe Finances","startTime":1419.775,"endTime":1422.655,"body":"And, especially if you know what"},{"speaker":"Average Joe Finances","startTime":1419.775,"endTime":1422.655,"body":"they're doing and what their plan"},{"speaker":"Average Joe Finances","startTime":1422.655,"endTime":1426.329,"body":"is,  I'm not comfortable helping"},{"speaker":"Average Joe Finances","startTime":1422.655,"endTime":1426.329,"body":"somebody get into a house that I"},{"speaker":"Average Joe Finances","startTime":1426.369,"endTime":1428.242,"body":"know that they can't handle for me."},{"speaker":"Average Joe Finances","startTime":1428.242,"endTime":1429.742,"body":"It's just like a, it's a whole."},{"speaker":"Average Joe Finances","startTime":1430.042,"endTime":1431.452,"body":"It's the whole principle behind it."},{"speaker":"Average Joe Finances","startTime":1431.493,"endTime":1434.133,"body":"But if it's somebody who's an investor"},{"speaker":"Average Joe Finances","startTime":1431.493,"endTime":1434.133,"body":"that I know they can come in here"},{"speaker":"Average Joe Finances","startTime":1434.133,"endTime":1437.037,"body":"and turn this place around and fix"},{"speaker":"Average Joe Finances","startTime":1434.133,"endTime":1437.037,"body":"it up, then, Hey, let's do a bit."},{"speaker":"Average Joe Finances","startTime":1437.337,"endTime":1441.087,"body":"I try to take my fiduciary"},{"speaker":"Average Joe Finances","startTime":1437.337,"endTime":1441.087,"body":"responsibility to my clients."},{"speaker":"Average Joe Finances","startTime":1441.165,"endTime":1442.035,"body":"Very seriously."},{"speaker":"Average Joe Finances","startTime":1442.202,"endTime":1444.452,"body":"And if somebody is trying to get"},{"speaker":"Average Joe Finances","startTime":1442.202,"endTime":1444.452,"body":"into something that they're not ready"},{"speaker":"Average Joe Finances","startTime":1444.452,"endTime":1447.522,"body":"for, I'll tell them, Hey, look, this"},{"speaker":"Average Joe Finances","startTime":1444.452,"endTime":1447.522,"body":"might not be the best thing for you."},{"speaker":"Average Joe Finances","startTime":1447.911,"endTime":1450.911,"body":"Let's maybe look at something else, but"},{"speaker":"Average Joe Finances","startTime":1447.911,"endTime":1450.911,"body":"it's your choice in the end, it's their"},{"speaker":"Average Joe Finances","startTime":1450.911,"endTime":1453.939,"body":"choice, and if they decide they want to"},{"speaker":"Average Joe Finances","startTime":1450.911,"endTime":1453.939,"body":"go with it,  I'll help them go with it."},{"speaker":"Doug Spence","startTime":1453.939,"endTime":1457.189,"body":"Yeah, I got a question"},{"speaker":"Doug Spence","startTime":1453.939,"endTime":1457.189,"body":"for you then, being in Hawaii is from"},{"speaker":"Doug Spence","startTime":1457.189,"endTime":1460.969,"body":"the investor perspective, what's the"},{"speaker":"Doug Spence","startTime":1457.189,"endTime":1460.969,"body":"toughest part about investing Hawaii?"},{"speaker":"Doug Spence","startTime":1460.999,"endTime":1462.019,"body":"Is it finding deals?"},{"speaker":"Doug Spence","startTime":1462.019,"endTime":1463.879,"body":"Is it finding the good contractors?"},{"speaker":"Doug Spence","startTime":1463.879,"endTime":1467.679,"body":"Cause I know that's a tough part"},{"speaker":"Doug Spence","startTime":1463.879,"endTime":1467.679,"body":"with Hawaii is getting, getting"},{"speaker":"Doug Spence","startTime":1467.679,"endTime":1470.319,"body":"the supplies for a reasonable"},{"speaker":"Doug Spence","startTime":1467.679,"endTime":1470.319,"body":"price and finding those contractors"},{"speaker":"Doug Spence","startTime":1470.392,"endTime":1471.622,"body":"that, that are willing to work."},{"speaker":"Doug Spence","startTime":1471.622,"endTime":1471.998,"body":"Even when."},{"speaker":"Doug Spence","startTime":1472.148,"endTime":1473.558,"body":"You got 10 foot surf out there."},{"speaker":"Doug Spence","startTime":1473.587,"endTime":1476.299,"body":"So what's the tough part"},{"speaker":"Doug Spence","startTime":1473.587,"endTime":1476.299,"body":"about investing in Hawaii."},{"speaker":"Average Joe Finances","startTime":1476.599,"endTime":1477.939,"body":"There's"},{"speaker":"Average Joe Finances","startTime":1476.599,"endTime":1477.939,"body":"people out here that, that are"},{"speaker":"Average Joe Finances","startTime":1477.939,"endTime":1479.499,"body":"successful with flips, right?"},{"speaker":"Average Joe Finances","startTime":1479.799,"endTime":1483.855,"body":"But I'm telling you this so far,"},{"speaker":"Average Joe Finances","startTime":1479.799,"endTime":1483.855,"body":"Hawaii is not a rental market."},{"speaker":"Average Joe Finances","startTime":1484.005,"endTime":1487.935,"body":"You're not going to come out here and"},{"speaker":"Average Joe Finances","startTime":1484.005,"endTime":1487.935,"body":"buy real estate to, to rent it out for"},{"speaker":"Average Joe Finances","startTime":1487.935,"endTime":1490.605,"body":"cashflow because you won't get cashflow."},{"speaker":"Average Joe Finances","startTime":1490.905,"endTime":1494.379,"body":"Unless you put a large enough"},{"speaker":"Average Joe Finances","startTime":1490.905,"endTime":1494.379,"body":"down payment down to where your"},{"speaker":"Average Joe Finances","startTime":1494.379,"endTime":1495.879,"body":"mortgage isn't going to be as high."},{"speaker":"Average Joe Finances","startTime":1496.093,"endTime":1499.723,"body":"And at the same time, Depending on"},{"speaker":"Average Joe Finances","startTime":1496.093,"endTime":1499.723,"body":"the amount that you put down versus"},{"speaker":"Average Joe Finances","startTime":1499.723,"endTime":1501.103,"body":"what you're getting in return."},{"speaker":"Average Joe Finances","startTime":1501.103,"endTime":1504.202,"body":"It's going to be very low cash"},{"speaker":"Average Joe Finances","startTime":1501.103,"endTime":1504.202,"body":"on cash return on investment."},{"speaker":"Average Joe Finances","startTime":1504.419,"endTime":1509.699,"body":"Now, what Hawaii is really good for is"},{"speaker":"Average Joe Finances","startTime":1504.419,"endTime":1509.699,"body":"buy and hold because of appreciation."},{"speaker":"Average Joe Finances","startTime":1509.999,"endTime":1513.089,"body":"So if you are going to buy an asset"},{"speaker":"Average Joe Finances","startTime":1509.999,"endTime":1513.089,"body":"out here and you can break even, and"},{"speaker":"Average Joe Finances","startTime":1513.089,"endTime":1515.969,"body":"you could hold onto it for a couple of"},{"speaker":"Average Joe Finances","startTime":1513.089,"endTime":1515.969,"body":"years, you'll be able to turn around and"},{"speaker":"Average Joe Finances","startTime":1515.969,"endTime":1517.919,"body":"sell it and make a pretty decent profit."},{"speaker":"Average Joe Finances","startTime":1518.325,"endTime":1520.813,"body":"The property values out"},{"speaker":"Average Joe Finances","startTime":1518.325,"endTime":1520.813,"body":"here generally over."},{"speaker":"Average Joe Finances","startTime":1520.963,"endTime":1524.293,"body":"Every 10 years, just about maybe a"},{"speaker":"Average Joe Finances","startTime":1520.963,"endTime":1524.293,"body":"little over 10 years, they double,"},{"speaker":"Average Joe Finances","startTime":1524.643,"endTime":1527.732,"body":"let me go up to like between 80 to a"},{"speaker":"Average Joe Finances","startTime":1524.643,"endTime":1527.732,"body":"hundred percent over a 10 year period."},{"speaker":"Average Joe Finances","startTime":1527.749,"endTime":1529.073,"body":"It's really amazing."},{"speaker":"Average Joe Finances","startTime":1529.223,"endTime":1532.169,"body":"And of course, even, recently"},{"speaker":"Average Joe Finances","startTime":1529.223,"endTime":1532.169,"body":"it's really skyrocketed because"},{"speaker":"Average Joe Finances","startTime":1532.227,"endTime":1534.337,"body":"just like the rest of the country,"},{"speaker":"Average Joe Finances","startTime":1532.227,"endTime":1534.337,"body":"everywhere else has jumping up."},{"speaker":"Average Joe Finances","startTime":1534.502,"endTime":1535.942,"body":"Of course, it jumped up here as well."},{"speaker":"Average Joe Finances","startTime":1536.292,"endTime":1539.665,"body":"So definitely got that accelerated"},{"speaker":"Average Joe Finances","startTime":1536.292,"endTime":1539.665,"body":"appreciation going on out here,"},{"speaker":"Average Joe Finances","startTime":1539.665,"endTime":1543.224,"body":"but yeah, supplies are definitely"},{"speaker":"Average Joe Finances","startTime":1539.665,"endTime":1543.224,"body":"a lot more expensive here because"},{"speaker":"Average Joe Finances","startTime":1543.224,"endTime":1544.484,"body":"of shipping costs and everything."},{"speaker":"Average Joe Finances","startTime":1544.484,"endTime":1548.27,"body":"So you can find it there's some diamonds"},{"speaker":"Average Joe Finances","startTime":1544.484,"endTime":1548.27,"body":"in the rough, but you're normally"},{"speaker":"Average Joe Finances","startTime":1548.27,"endTime":1549.56,"body":"not going to find it on the MLS."},{"speaker":"Average Joe Finances","startTime":1549.56,"endTime":1552.346,"body":"I'll tell you that straight up, if"},{"speaker":"Average Joe Finances","startTime":1549.56,"endTime":1552.346,"body":"you're out here, you need to be sending"},{"speaker":"Average Joe Finances","startTime":1552.346,"endTime":1555.886,"body":"letters to homeowners and you need"},{"speaker":"Average Joe Finances","startTime":1552.346,"endTime":1555.886,"body":"to be driving for dollars and finding"},{"speaker":"Average Joe Finances","startTime":1555.886,"endTime":1559.649,"body":"those dilapidated homes that have"},{"speaker":"Average Joe Finances","startTime":1555.886,"endTime":1559.649,"body":"these kinds of, Issues that somebody"},{"speaker":"Average Joe Finances","startTime":1559.649,"endTime":1562.139,"body":"that, that has the right head on their"},{"speaker":"Average Joe Finances","startTime":1559.649,"endTime":1562.139,"body":"shoulders, they can come in here and"},{"speaker":"Average Joe Finances","startTime":1562.139,"endTime":1564.119,"body":"rehab it, turn it around and flip it."},{"speaker":"Average Joe Finances","startTime":1564.419,"endTime":1566.879,"body":"But you're not going to see anybody"},{"speaker":"Average Joe Finances","startTime":1564.419,"endTime":1566.879,"body":"really coming out here to BRRRR"},{"speaker":"Average Joe Finances","startTime":1566.984,"endTime":1568.181,"body":"It's not really something out here."},{"speaker":"Average Joe Finances","startTime":1568.348,"endTime":1571.768,"body":"If there's somebody out here that does"},{"speaker":"Average Joe Finances","startTime":1568.348,"endTime":1571.768,"body":"it, Hey, shoot me an email and tell me"},{"speaker":"Average Joe Finances","startTime":1571.768,"endTime":1573.238,"body":"what you're doing, because that's amazing."},{"speaker":"Average Joe Finances","startTime":1573.508,"endTime":1576.968,"body":"But I do know that there's some really"},{"speaker":"Average Joe Finances","startTime":1573.508,"endTime":1576.968,"body":"awesome flippers out here, if you're"},{"speaker":"Average Joe Finances","startTime":1576.968,"endTime":1579.778,"body":"gonna be out here, that's gonna be the"},{"speaker":"Average Joe Finances","startTime":1576.968,"endTime":1579.778,"body":"route you're going to go is flipping."},{"speaker":"Average Joe Finances","startTime":1579.937,"endTime":1583.577,"body":"And at the same time to get started, you"},{"speaker":"Average Joe Finances","startTime":1579.937,"endTime":1583.577,"body":"have to have a lot of capital because."},{"speaker":"Average Joe Finances","startTime":1583.877,"endTime":1589.727,"body":"The average median household price"},{"speaker":"Average Joe Finances","startTime":1583.877,"endTime":1589.727,"body":"in Hawaii today is $1,050,000."},{"speaker":"Average Joe Finances","startTime":1589.867,"endTime":1592.817,"body":"That is the average cost"},{"speaker":"Average Joe Finances","startTime":1589.867,"endTime":1592.817,"body":"of a single family home."},{"speaker":"Doug Spence","startTime":1593.117,"endTime":1596.114,"body":"Yeah, I think it's"},{"speaker":"Doug Spence","startTime":1593.117,"endTime":1596.114,"body":"important to note that, for someone"},{"speaker":"Doug Spence","startTime":1596.114,"endTime":1599.894,"body":"just getting started in real estate"},{"speaker":"Doug Spence","startTime":1596.114,"endTime":1599.894,"body":"is that the real estate strategy"},{"speaker":"Doug Spence","startTime":1599.894,"endTime":1604.4,"body":"that works in Cleveland, Ohio is not"},{"speaker":"Doug Spence","startTime":1599.894,"endTime":1604.4,"body":"the same one that works in Honolulu."},{"speaker":"Doug Spence","startTime":1604.74,"endTime":1608.91,"body":"There are ways to make money in real"},{"speaker":"Doug Spence","startTime":1604.74,"endTime":1608.91,"body":"estate, in every single market in"},{"speaker":"Doug Spence","startTime":1608.91,"endTime":1610.92,"body":"the country, but it's different."},{"speaker":"Doug Spence","startTime":1610.98,"endTime":1614.595,"body":"And there's, just like you touched"},{"speaker":"Doug Spence","startTime":1610.98,"endTime":1614.595,"body":"on capital, the amount of capital you"},{"speaker":"Doug Spence","startTime":1614.595,"endTime":1617.517,"body":"need to get it and start get started"},{"speaker":"Doug Spence","startTime":1614.595,"endTime":1617.517,"body":"in Hawaii is going to be totally"},{"speaker":"Doug Spence","startTime":1617.517,"endTime":1620.337,"body":"different from the capital you need"},{"speaker":"Doug Spence","startTime":1617.517,"endTime":1620.337,"body":"to get started at Fort Wayne, Indiana."},{"speaker":"Doug Spence","startTime":1620.527,"endTime":1623.688,"body":"It's just totally different markets,"},{"speaker":"Doug Spence","startTime":1620.527,"endTime":1623.688,"body":"different goals, different strategies."},{"speaker":"Doug Spence","startTime":1623.688,"endTime":1627.858,"body":"So that's why individuals need to figure"},{"speaker":"Doug Spence","startTime":1623.688,"endTime":1627.858,"body":"out what their goals are and then find the"},{"speaker":"Doug Spence","startTime":1627.858,"endTime":1630.348,"body":"strategy and the market that, that fits."},{"speaker":"Doug Spence","startTime":1630.565,"endTime":1631.645,"body":"Their goals."},{"speaker":"Average Joe Finances","startTime":1631.945,"endTime":1632.425,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":1632.425,"endTime":1635.904,"body":"In some of those markets too, as you're"},{"speaker":"Average Joe Finances","startTime":1632.425,"endTime":1635.904,"body":"talking about that,  you know that the"},{"speaker":"Average Joe Finances","startTime":1635.904,"endTime":1637.734,"body":"Cali has a cashflow out here in Hawaii."},{"speaker":"Average Joe Finances","startTime":1637.734,"endTime":1638.484,"body":"He's not going to be great."},{"speaker":"Average Joe Finances","startTime":1638.484,"endTime":1641.004,"body":"You're going to you, where are you going"},{"speaker":"Average Joe Finances","startTime":1638.484,"endTime":1641.004,"body":"to make your money as the appreciation,"},{"speaker":"Average Joe Finances","startTime":1641.304,"endTime":1645.484,"body":"but there's other areas like what you"},{"speaker":"Average Joe Finances","startTime":1641.304,"endTime":1645.484,"body":"just mentioned in Indiana that are"},{"speaker":"Average Joe Finances","startTime":1645.484,"endTime":1649.924,"body":"most likely not going to appreciate as"},{"speaker":"Average Joe Finances","startTime":1645.484,"endTime":1649.924,"body":"well, but will cash flow way better."},{"speaker":"Average Joe Finances","startTime":1649.924,"endTime":1653.274,"body":"You could have way better return"},{"speaker":"Average Joe Finances","startTime":1649.924,"endTime":1653.274,"body":"on your initial investment."},{"speaker":"Average Joe Finances","startTime":1653.447,"endTime":1655.067,"body":"Versus what you would get out here."},{"speaker":"Doug Spence","startTime":1655.257,"endTime":1658.872,"body":"If someone is looking"},{"speaker":"Doug Spence","startTime":1655.257,"endTime":1658.872,"body":"to add cashflow to replace."},{"speaker":"Doug Spence","startTime":1659.022,"endTime":1663.192,"body":"They're W2 that they're trying to leave in"},{"speaker":"Doug Spence","startTime":1659.022,"endTime":1663.192,"body":"the next few years, buying a Hawaii house."},{"speaker":"Doug Spence","startTime":1663.282,"endTime":1666.282,"body":"Isn't the answer you gotta"},{"speaker":"Doug Spence","startTime":1663.282,"endTime":1666.282,"body":"buy those cashflow properties."},{"speaker":"Doug Spence","startTime":1666.311,"endTime":1669.701,"body":"But what if you're someone that's"},{"speaker":"Doug Spence","startTime":1666.311,"endTime":1669.701,"body":"further along in your investing journey"},{"speaker":"Doug Spence","startTime":1670.001,"endTime":1673.931,"body":"and you want to get out of those higher"},{"speaker":"Doug Spence","startTime":1670.001,"endTime":1673.931,"body":"risk C class properties in Indiana."},{"speaker":"Doug Spence","startTime":1673.931,"endTime":1676.241,"body":"You want to put in something"},{"speaker":"Doug Spence","startTime":1673.931,"endTime":1676.241,"body":"more stable for appreciation"},{"speaker":"Doug Spence","startTime":1676.282,"endTime":1677.922,"body":"Hawaii is a p lay for that."},{"speaker":"Doug Spence","startTime":1677.942,"endTime":1681.362,"body":"And you're like David Green, he's buying,"},{"speaker":"Doug Spence","startTime":1677.942,"endTime":1681.362,"body":"he's selling a lot of his properties"},{"speaker":"Doug Spence","startTime":1681.362,"endTime":1685.502,"body":"in the continental United States and"},{"speaker":"Doug Spence","startTime":1681.362,"endTime":1685.502,"body":"buying stuff out in Maui and Hawaii."},{"speaker":"Average Joe Finances","startTime":1685.742,"endTime":1687.02,"body":"I think"},{"speaker":"Average Joe Finances","startTime":1685.742,"endTime":1687.02,"body":"he recently said he was looking"},{"speaker":"Average Joe Finances","startTime":1687.02,"endTime":1690.236,"body":"at buying some,  Some places in"},{"speaker":"Average Joe Finances","startTime":1687.02,"endTime":1690.236,"body":"Waikiki for some short-term rentals."},{"speaker":"Average Joe Finances","startTime":1690.236,"endTime":1692.216,"body":"So that's one of the few places there."},{"speaker":"Average Joe Finances","startTime":1692.384,"endTime":1694.034,"body":"There's some places that are"},{"speaker":"Average Joe Finances","startTime":1692.384,"endTime":1694.034,"body":"zone where you can do that."},{"speaker":"Average Joe Finances","startTime":1694.034,"endTime":1697.364,"body":"Hawaii has some funny rules when"},{"speaker":"Average Joe Finances","startTime":1694.034,"endTime":1697.364,"body":"it comes to short-term rentals."},{"speaker":"Average Joe Finances","startTime":1697.364,"endTime":1700.419,"body":"And if I wanted to, I can't use"},{"speaker":"Average Joe Finances","startTime":1697.364,"endTime":1700.419,"body":"my property that I live in here."},{"speaker":"Average Joe Finances","startTime":1700.419,"endTime":1703.553,"body":"I can't use that as a short-term"},{"speaker":"Average Joe Finances","startTime":1700.419,"endTime":1703.553,"body":"rental it's they have specific laws."},{"speaker":"Average Joe Finances","startTime":1703.553,"endTime":1708.537,"body":"Like you have to be in a,  hotels,"},{"speaker":"Average Joe Finances","startTime":1703.553,"endTime":1708.537,"body":"zoned area or resort zoned area."},{"speaker":"Average Joe Finances","startTime":1708.693,"endTime":1709.983,"body":"Where you can actually do that."},{"speaker":"Average Joe Finances","startTime":1710.283,"endTime":1713.851,"body":"And there's not many places,"},{"speaker":"Average Joe Finances","startTime":1710.283,"endTime":1713.851,"body":"outside of Waikiki and maybe a"},{"speaker":"Average Joe Finances","startTime":1713.851,"endTime":1716.521,"body":"couple of places on the north shore"},{"speaker":"Average Joe Finances","startTime":1713.851,"endTime":1716.521,"body":"where you can actually do this."},{"speaker":"Doug Spence","startTime":1716.727,"endTime":1717.057,"body":"Yeah."},{"speaker":"Doug Spence","startTime":1717.357,"endTime":1717.597,"body":"Yeah."},{"speaker":"Doug Spence","startTime":1717.597,"endTime":1719.157,"body":"So knowing the local laws."},{"speaker":"Average Joe Finances","startTime":1719.245,"endTime":1719.555,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1719.555,"endTime":1722.686,"body":"Know the local laws and rules and,"},{"speaker":"Average Joe Finances","startTime":1719.555,"endTime":1722.686,"body":"especially,  I, another thing too,"},{"speaker":"Average Joe Finances","startTime":1722.686,"endTime":1726.129,"body":"I want to touch on too for out here,"},{"speaker":"Average Joe Finances","startTime":1722.686,"endTime":1726.129,"body":"for people listening is know the"},{"speaker":"Average Joe Finances","startTime":1726.129,"endTime":1731.422,"body":"landlord tenant laws as well, because"},{"speaker":"Average Joe Finances","startTime":1726.129,"endTime":1731.422,"body":"it is very tenant friendly out here."},{"speaker":"Average Joe Finances","startTime":1731.807,"endTime":1735.207,"body":"Just where you're living at in California,"},{"speaker":"Average Joe Finances","startTime":1731.807,"endTime":1735.207,"body":"you can get stuck with squatters for"},{"speaker":"Average Joe Finances","startTime":1735.207,"endTime":1739.199,"body":"a long time and have a very difficult"},{"speaker":"Average Joe Finances","startTime":1735.207,"endTime":1739.199,"body":"time getting them out depending on"},{"speaker":"Average Joe Finances","startTime":1739.209,"endTime":1742.389,"body":"what the landlord tenant laws are in"},{"speaker":"Average Joe Finances","startTime":1739.209,"endTime":1742.389,"body":"the state that you're investing in."},{"speaker":"Average Joe Finances","startTime":1742.389,"endTime":1746.135,"body":"So make sure before you go into any"},{"speaker":"Average Joe Finances","startTime":1742.389,"endTime":1746.135,"body":"of that stuff,  you really educate"},{"speaker":"Average Joe Finances","startTime":1746.135,"endTime":1749.181,"body":"yourself on the different laws"},{"speaker":"Average Joe Finances","startTime":1746.135,"endTime":1749.181,"body":"and rules,  for where you're at"},{"speaker":"Doug Spence","startTime":1749.331,"endTime":1750.381,"body":"and have cash reserves."},{"speaker":"Doug Spence","startTime":1750.381,"endTime":1751.701,"body":"So you can keep paying your mortgage"},{"speaker":"Average Joe Finances","startTime":1752.001,"endTime":1755.601,"body":"and any type of a"},{"speaker":"Average Joe Finances","startTime":1752.001,"endTime":1755.601,"body":"repair or anything that comes up as well."},{"speaker":"Average Joe Finances","startTime":1755.901,"endTime":1756.651,"body":"Yeah, that's for sure, man."},{"speaker":"Average Joe Finances","startTime":1756.68,"endTime":1757.41,"body":"That's good stuff."},{"speaker":"Average Joe Finances","startTime":1757.56,"endTime":1757.98,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1758.14,"endTime":1762.808,"body":"So I want to ask you, so besides"},{"speaker":"Average Joe Finances","startTime":1758.14,"endTime":1762.808,"body":"real estate, Is there any other"},{"speaker":"Average Joe Finances","startTime":1762.808,"endTime":1764.548,"body":"asset classes that you invest in?"},{"speaker":"Doug Spence","startTime":1764.848,"endTime":1769.228,"body":"So I do"},{"speaker":"Doug Spence","startTime":1764.848,"endTime":1769.228,"body":"invest in the stock market."},{"speaker":"Doug Spence","startTime":1769.528,"endTime":1771.118,"body":"Primarily index funds."},{"speaker":"Doug Spence","startTime":1771.118,"endTime":1775.929,"body":"So I have, your standard"},{"speaker":"Doug Spence","startTime":1771.118,"endTime":1775.929,"body":"boring,  TSP Roth TSP."},{"speaker":"Doug Spence","startTime":1775.949,"endTime":1779.699,"body":"Most of my TSP is normal because"},{"speaker":"Doug Spence","startTime":1775.949,"endTime":1779.699,"body":"they just switched it to Roth"},{"speaker":"Doug Spence","startTime":1779.699,"endTime":1781.199,"body":"recently or a few years ago."},{"speaker":"Doug Spence","startTime":1781.379,"endTime":1785.646,"body":"So I have my TSP and then I have"},{"speaker":"Doug Spence","startTime":1781.379,"endTime":1785.646,"body":"my Roth IRA and I would say about a"},{"speaker":"Doug Spence","startTime":1785.646,"endTime":1787.776,"body":"third of my net worth is those two."},{"speaker":"Doug Spence","startTime":1788.076,"endTime":1788.976,"body":"And it's just your."},{"speaker":"Doug Spence","startTime":1789.326,"endTime":1790.825,"body":"It's boring, but it works."},{"speaker":"Doug Spence","startTime":1790.829,"endTime":1795.179,"body":"So I think people have said, and I"},{"speaker":"Doug Spence","startTime":1790.829,"endTime":1795.179,"body":"think mine is about the same, but the"},{"speaker":"Doug Spence","startTime":1795.179,"endTime":1799.379,"body":"T the TSP return over the last year has"},{"speaker":"Doug Spence","startTime":1795.179,"endTime":1799.379,"body":"been like 40% or something like that."},{"speaker":"Doug Spence","startTime":1799.408,"endTime":1802.47,"body":"I think it's important that if"},{"speaker":"Doug Spence","startTime":1799.408,"endTime":1802.47,"body":"you're in the military and you're"},{"speaker":"Doug Spence","startTime":1802.47,"endTime":1806.238,"body":"not contributing to your TSP, you"},{"speaker":"Doug Spence","startTime":1802.47,"endTime":1806.238,"body":"need to go in and fix that because I"},{"speaker":"Doug Spence","startTime":1806.238,"endTime":1808.908,"body":"think that the TSP and the VA loan."},{"speaker":"Doug Spence","startTime":1809.318,"endTime":1813.608,"body":"Are the two of the most powerful"},{"speaker":"Doug Spence","startTime":1809.318,"endTime":1813.608,"body":"tools that we have unique to us now,"},{"speaker":"Doug Spence","startTime":1813.638,"endTime":1817.478,"body":"I guess technically federal employees"},{"speaker":"Doug Spence","startTime":1813.638,"endTime":1817.478,"body":"can use the TSP as well, but TSP"},{"speaker":"Doug Spence","startTime":1817.478,"endTime":1820.628,"body":"and the VA loan, super powerful"},{"speaker":"Doug Spence","startTime":1817.478,"endTime":1820.628,"body":"wealth builders for military folks."},{"speaker":"Average Joe Finances","startTime":1820.928,"endTime":1821.648,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1821.648,"endTime":1822.608,"body":"And a lot of people don't know too."},{"speaker":"Average Joe Finances","startTime":1822.608,"endTime":1824.152,"body":"You can borrow from it if you need to."},{"speaker":"Average Joe Finances","startTime":1824.152,"endTime":1827.752,"body":"I actually borrowed from my TSP"},{"speaker":"Average Joe Finances","startTime":1824.152,"endTime":1827.752,"body":"to help with a down payment on a"},{"speaker":"Average Joe Finances","startTime":1827.752,"endTime":1830.329,"body":"property that I was buying back in"},{"speaker":"Average Joe Finances","startTime":1827.752,"endTime":1830.329,"body":"Virginia, which was pretty awesome."},{"speaker":"Average Joe Finances","startTime":1830.546,"endTime":1831.626,"body":"I had to get a little creative."},{"speaker":"Average Joe Finances","startTime":1831.656,"endTime":1833.546,"body":"I, so I borrowed a little bit from there."},{"speaker":"Average Joe Finances","startTime":1833.546,"endTime":1836.606,"body":"And  I had to do a cash advance"},{"speaker":"Average Joe Finances","startTime":1833.546,"endTime":1836.606,"body":"on a credit card, which was"},{"speaker":"Average Joe Finances","startTime":1836.606,"endTime":1838.616,"body":"a pretty interesting, and I"},{"speaker":"Average Joe Finances","startTime":1836.606,"endTime":1838.616,"body":"paid that back right away."},{"speaker":"Average Joe Finances","startTime":1838.616,"endTime":1841.57,"body":"But man,  cause I needed like"},{"speaker":"Average Joe Finances","startTime":1838.616,"endTime":1841.57,"body":"an extra seven K I'm like,"},{"speaker":"Average Joe Finances","startTime":1841.6,"endTime":1842.59,"body":"oh, where'd this come from?"},{"speaker":"Average Joe Finances","startTime":1842.804,"endTime":1844.514,"body":"So I was like, I'll just do"},{"speaker":"Average Joe Finances","startTime":1842.804,"endTime":1844.514,"body":"a cash advance real quick."},{"speaker":"Average Joe Finances","startTime":1844.514,"endTime":1845.684,"body":"And I was able to secure it."},{"speaker":"Average Joe Finances","startTime":1845.684,"endTime":1848.499,"body":"It w it was, but I was able to secure"},{"speaker":"Average Joe Finances","startTime":1845.684,"endTime":1848.499,"body":"the property, but,  sometimes man"},{"speaker":"Average Joe Finances","startTime":1848.499,"endTime":1849.754,"body":"that stuff could really be a pain."},{"speaker":"Average Joe Finances","startTime":1849.754,"endTime":1852.874,"body":"So knowing what options you"},{"speaker":"Average Joe Finances","startTime":1849.754,"endTime":1852.874,"body":"have as well as super important."},{"speaker":"Average Joe Finances","startTime":1853.024,"endTime":1853.264,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1853.264,"endTime":1856.542,"body":"So speaking of that, cause we've"},{"speaker":"Average Joe Finances","startTime":1853.264,"endTime":1856.542,"body":"talked a lot about the different"},{"speaker":"Average Joe Finances","startTime":1856.542,"endTime":1859.327,"body":"things that you've done, especially"},{"speaker":"Average Joe Finances","startTime":1856.542,"endTime":1859.327,"body":"since you've gotten started."},{"speaker":"Average Joe Finances","startTime":1859.376,"endTime":1863.426,"body":"What is something that you've learned"},{"speaker":"Average Joe Finances","startTime":1859.376,"endTime":1863.426,"body":"that you wish you knew when you first"},{"speaker":"Average Joe Finances","startTime":1863.426,"endTime":1864.626,"body":"started investing in real estate?"},{"speaker":"Doug Spence","startTime":1864.797,"endTime":1868.727,"body":"I wish I knew that you"},{"speaker":"Doug Spence","startTime":1864.797,"endTime":1868.727,"body":"didn't have to do everything by yourself."},{"speaker":"Doug Spence","startTime":1868.777,"endTime":1874.385,"body":"It's and the more experienced I"},{"speaker":"Doug Spence","startTime":1868.777,"endTime":1874.385,"body":"get in real estate, it's reinforced"},{"speaker":"Doug Spence","startTime":1874.415,"endTime":1875.855,"body":"even more that it is a team."},{"speaker":"Doug Spence","startTime":1876.223,"endTime":1879.324,"body":"It's, especially once you get into"},{"speaker":"Doug Spence","startTime":1876.223,"endTime":1879.324,"body":"the more challenging stuff, like"},{"speaker":"Doug Spence","startTime":1879.324,"endTime":1882.816,"body":"your apartment complexes and mobile"},{"speaker":"Doug Spence","startTime":1879.324,"endTime":1882.816,"body":"home parks and all that stuff."},{"speaker":"Doug Spence","startTime":1882.863,"endTime":1884.023,"body":"There's no one out there."},{"speaker":"Doug Spence","startTime":1884.023,"endTime":1886.543,"body":"That's one person that's"},{"speaker":"Doug Spence","startTime":1884.023,"endTime":1886.543,"body":"taken down this stuff."},{"speaker":"Doug Spence","startTime":1886.543,"endTime":1889.3,"body":"I each can't, you can't do"},{"speaker":"Doug Spence","startTime":1886.543,"endTime":1889.3,"body":"it by herself, you need it."},{"speaker":"Doug Spence","startTime":1889.3,"endTime":1893.82,"body":"And even if you can do it, you're not"},{"speaker":"Doug Spence","startTime":1889.3,"endTime":1893.82,"body":"leveraging people the way you should be."},{"speaker":"Doug Spence","startTime":1893.82,"endTime":1895.137,"body":"You want to have an underwriter."},{"speaker":"Doug Spence","startTime":1895.401,"endTime":1896.181,"body":"Yeah, exactly."},{"speaker":"Doug Spence","startTime":1896.181,"endTime":1896.391,"body":"Yeah."},{"speaker":"Doug Spence","startTime":1896.457,"endTime":1900.177,"body":"There's probably someone out there"},{"speaker":"Doug Spence","startTime":1896.457,"endTime":1900.177,"body":"that is great at underwriting deals"},{"speaker":"Doug Spence","startTime":1900.177,"endTime":1901.167,"body":"and that's what they love to do."},{"speaker":"Doug Spence","startTime":1901.167,"endTime":1902.607,"body":"So bring that person on your team."},{"speaker":"Doug Spence","startTime":1902.607,"endTime":1905.397,"body":"There's probably someone out there"},{"speaker":"Doug Spence","startTime":1902.607,"endTime":1905.397,"body":"that's great at finding these off"},{"speaker":"Doug Spence","startTime":1905.397,"endTime":1907.683,"body":"market, apartment complexes or whatever."},{"speaker":"Doug Spence","startTime":1907.683,"endTime":1909.939,"body":"They have a great relationship"},{"speaker":"Doug Spence","startTime":1907.683,"endTime":1909.939,"body":"with brokers in that area."},{"speaker":"Doug Spence","startTime":1909.968,"endTime":1912.998,"body":"Get that person on your team and then"},{"speaker":"Doug Spence","startTime":1909.968,"endTime":1912.998,"body":"get the person on your team that can,"},{"speaker":"Doug Spence","startTime":1913.189,"endTime":1916.607,"body":"that knows a lot of people that are"},{"speaker":"Doug Spence","startTime":1913.189,"endTime":1916.607,"body":"accredited and that can raise money."},{"speaker":"Doug Spence","startTime":1916.607,"endTime":1920.302,"body":"So why do it yourself, get all"},{"speaker":"Doug Spence","startTime":1916.607,"endTime":1920.302,"body":"these people on your team and you"},{"speaker":"Doug Spence","startTime":1920.302,"endTime":1925.107,"body":"can go so much further as a team"},{"speaker":"Doug Spence","startTime":1920.302,"endTime":1925.107,"body":"than you can just by yourself."},{"speaker":"Doug Spence","startTime":1925.107,"endTime":1928.377,"body":"And that's something that's, it's a"},{"speaker":"Doug Spence","startTime":1925.107,"endTime":1928.377,"body":"mental block for a lot of entrepreneurs"},{"speaker":"Doug Spence","startTime":1928.377,"endTime":1932.127,"body":"is they're so used to doing"},{"speaker":"Doug Spence","startTime":1928.377,"endTime":1932.127,"body":"everything by themselves that they"},{"speaker":"Doug Spence","startTime":1932.427,"endTime":1933.987,"body":"miss out on a lot of opportunities."},{"speaker":"Average Joe Finances","startTime":1934.056,"endTime":1936.944,"body":"Yeah, I, and it's"},{"speaker":"Average Joe Finances","startTime":1934.056,"endTime":1936.944,"body":"funny, cause like I just said this in my"},{"speaker":"Average Joe Finances","startTime":1936.944,"endTime":1941.425,"body":"head, as you were talking that, for this"},{"speaker":"Average Joe Finances","startTime":1936.944,"endTime":1941.425,"body":"episode, like th the theme is team, right?"},{"speaker":"Average Joe Finances","startTime":1941.425,"endTime":1941.635,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1941.725,"endTime":1943.105,"body":"You need to have that team built."},{"speaker":"Average Joe Finances","startTime":1943.105,"endTime":1945.514,"body":"And that's definitely something"},{"speaker":"Average Joe Finances","startTime":1943.105,"endTime":1945.514,"body":"that it looks like, before you"},{"speaker":"Average Joe Finances","startTime":1945.514,"endTime":1948.304,"body":"even started getting into your"},{"speaker":"Average Joe Finances","startTime":1945.514,"endTime":1948.304,"body":"BRRRR, you built that team first."},{"speaker":"Average Joe Finances","startTime":1948.38,"endTime":1951.35,"body":"You made sure you had all the"},{"speaker":"Average Joe Finances","startTime":1948.38,"endTime":1951.35,"body":"right players involved before"},{"speaker":"Average Joe Finances","startTime":1951.35,"endTime":1954.47,"body":"you started the game and that's"},{"speaker":"Average Joe Finances","startTime":1951.35,"endTime":1954.47,"body":"something that's super important."},{"speaker":"Average Joe Finances","startTime":1954.5,"endTime":1958.863,"body":"So that's definitely really awesome,"},{"speaker":"Average Joe Finances","startTime":1954.5,"endTime":1958.863,"body":"exceptional advice for someone who's"},{"speaker":"Average Joe Finances","startTime":1958.863,"endTime":1963.063,"body":"just getting started to understand that"},{"speaker":"Average Joe Finances","startTime":1958.863,"endTime":1963.063,"body":"you don't have to do this by yourself."},{"speaker":"Average Joe Finances","startTime":1963.093,"endTime":1964.743,"body":"So I definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":1965.043,"endTime":1969.194,"body":"Now I want to ask you this, and this is"},{"speaker":"Average Joe Finances","startTime":1965.043,"endTime":1969.194,"body":"the question that I was talking about"},{"speaker":"Average Joe Finances","startTime":1969.194,"endTime":1973.227,"body":"before we,  before we pushed the record"},{"speaker":"Average Joe Finances","startTime":1969.194,"endTime":1973.227,"body":"button that came up in one of my more"},{"speaker":"Average Joe Finances","startTime":1973.227,"endTime":1976.676,"body":"recent interviews that I want to start"},{"speaker":"Average Joe Finances","startTime":1973.227,"endTime":1976.676,"body":"asking people now in every episode,"},{"speaker":"Average Joe Finances","startTime":1976.676,"endTime":1978.476,"body":"because it's an important question."},{"speaker":"Average Joe Finances","startTime":1978.476,"endTime":1981.776,"body":"And I don't know why I wasn't"},{"speaker":"Average Joe Finances","startTime":1978.476,"endTime":1981.776,"body":"asking this before, but what is the"},{"speaker":"Average Joe Finances","startTime":1981.866,"endTime":1983.546,"body":"biggest mistake you've ever made?"},{"speaker":"Doug Spence","startTime":1983.846,"endTime":1986.396,"body":"Biggest mistake"},{"speaker":"Doug Spence","startTime":1983.846,"endTime":1986.396,"body":"I've ever made, I think was"},{"speaker":"Doug Spence","startTime":1986.636,"endTime":1988.496,"body":"not buying real estate sooner."},{"speaker":"Doug Spence","startTime":1988.556,"endTime":1995.906,"body":"So I actually lived in Pensacola as a"},{"speaker":"Doug Spence","startTime":1988.556,"endTime":1995.906,"body":"flight student from 2009 to 2011, which"},{"speaker":"Doug Spence","startTime":1995.906,"endTime":2000.556,"body":"was rock bottom of the real estate"},{"speaker":"Doug Spence","startTime":1995.906,"endTime":2000.556,"body":"market for the last, what, 20 plus years."},{"speaker":"Doug Spence","startTime":2000.856,"endTime":2003.495,"body":"And I, I didn't know"},{"speaker":"Doug Spence","startTime":2000.856,"endTime":2003.495,"body":"anything about real estate."},{"speaker":"Doug Spence","startTime":2003.562,"endTime":2007.662,"body":"But even if I didn't know anything, if"},{"speaker":"Doug Spence","startTime":2003.562,"endTime":2007.662,"body":"I had just bought literally any property"},{"speaker":"Doug Spence","startTime":2007.662,"endTime":2011.202,"body":"with the VA loan, it would have been a"},{"speaker":"Doug Spence","startTime":2007.662,"endTime":2011.202,"body":"fantastic financial and just held onto it."},{"speaker":"Doug Spence","startTime":2011.232,"endTime":2014.172,"body":"That would have been a fantastic"},{"speaker":"Doug Spence","startTime":2011.232,"endTime":2014.172,"body":"financial decision, any property."},{"speaker":"Doug Spence","startTime":2014.422,"endTime":2015.51,"body":"So I, I wish that I had."},{"speaker":"Doug Spence","startTime":2015.66,"endTime":2017.04,"body":"Real estate sooner."},{"speaker":"Doug Spence","startTime":2017.1,"endTime":2021.244,"body":"And I think that's, to, to distill"},{"speaker":"Doug Spence","startTime":2017.1,"endTime":2021.244,"body":"that down into a sentence, it's, don't"},{"speaker":"Doug Spence","startTime":2021.244,"endTime":2024.232,"body":"wait to buy real estate and wait, I,"},{"speaker":"Doug Spence","startTime":2021.244,"endTime":2024.232,"body":"I think it's, I think that's really"},{"speaker":"Doug Spence","startTime":2024.232,"endTime":2025.532,"body":"important for people to understand."},{"speaker":"Average Joe Finances","startTime":2025.682,"endTime":2027.662,"body":"I bet I've"},{"speaker":"Average Joe Finances","startTime":2025.682,"endTime":2027.662,"body":"heard that term so many times."},{"speaker":"Average Joe Finances","startTime":2027.751,"endTime":2028.281,"body":"It's."},{"speaker":"Average Joe Finances","startTime":2028.463,"endTime":2032.093,"body":"Impactful because it carries a"},{"speaker":"Average Joe Finances","startTime":2028.463,"endTime":2032.093,"body":"lot of weight because it's true."},{"speaker":"Average Joe Finances","startTime":2032.393,"endTime":2033.023,"body":"Yes, it is."},{"speaker":"Average Joe Finances","startTime":2033.083,"endTime":2035.122,"body":"Don't wait to buy real estate and wait."},{"speaker":"Average Joe Finances","startTime":2035.272,"endTime":2036.322,"body":"Absolutely love that."},{"speaker":"Average Joe Finances","startTime":2036.475,"endTime":2036.895,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2037.175,"endTime":2040.553,"body":"I've already asked you the question"},{"speaker":"Average Joe Finances","startTime":2037.175,"endTime":2040.553,"body":"about,  you already answered it."},{"speaker":"Average Joe Finances","startTime":2040.582,"endTime":2042.265,"body":"If you had any tips or"},{"speaker":"Average Joe Finances","startTime":2040.582,"endTime":2042.265,"body":"tricks for somebody."},{"speaker":"Average Joe Finances","startTime":2042.415,"endTime":2044.125,"body":"That would, that's just starting out."},{"speaker":"Average Joe Finances","startTime":2044.125,"endTime":2047.275,"body":"You answered that with, the lessons that"},{"speaker":"Average Joe Finances","startTime":2044.125,"endTime":2047.275,"body":"you've learned since you first started."},{"speaker":"Average Joe Finances","startTime":2047.275,"endTime":2051.542,"body":"So I think we're going to skip that"},{"speaker":"Average Joe Finances","startTime":2047.275,"endTime":2051.542,"body":"one and I want to ask you about, and"},{"speaker":"Average Joe Finances","startTime":2051.542,"endTime":2054.962,"body":"you've already mentioned one of these"},{"speaker":"Average Joe Finances","startTime":2051.542,"endTime":2054.962,"body":"or a few of these actually, but I want"},{"speaker":"Average Joe Finances","startTime":2054.962,"endTime":2056.252,"body":"to ask you if you have a favorite."},{"speaker":"Average Joe Finances","startTime":2056.552,"endTime":2061.802,"body":"Business investing or real estate"},{"speaker":"Average Joe Finances","startTime":2056.552,"endTime":2061.802,"body":"related book or podcast or both."},{"speaker":"Doug Spence","startTime":2062.102,"endTime":2066.012,"body":"So I, in the last"},{"speaker":"Doug Spence","startTime":2062.102,"endTime":2066.012,"body":"year,  I've read a business book"},{"speaker":"Doug Spence","startTime":2066.042,"endTime":2068.872,"body":"that I knew just 50 pages into."},{"speaker":"Doug Spence","startTime":2068.872,"endTime":2071.392,"body":"It was to my favorite"},{"speaker":"Doug Spence","startTime":2068.872,"endTime":2071.392,"body":"business book of all time."},{"speaker":"Doug Spence","startTime":2071.602,"endTime":2073.432,"body":"And it's called traction by Gino Wickman."},{"speaker":"Doug Spence","startTime":2073.732,"endTime":2077.452,"body":"I imagine you've read it, but if"},{"speaker":"Doug Spence","startTime":2073.732,"endTime":2077.452,"body":"your readers haven't or readers"},{"speaker":"Doug Spence","startTime":2077.452,"endTime":2079.904,"body":"or listeners,  haven't read it"},{"speaker":"Doug Spence","startTime":2077.452,"endTime":2079.904,"body":"a highly recommended because."},{"speaker":"Doug Spence","startTime":2080.054,"endTime":2086.864,"body":"It is very much a tactical book about"},{"speaker":"Doug Spence","startTime":2080.054,"endTime":2086.864,"body":"how to start and improve a business."},{"speaker":"Doug Spence","startTime":2086.864,"endTime":2090.884,"body":"Even if you're not someone with a"},{"speaker":"Doug Spence","startTime":2086.864,"endTime":2090.884,"body":"business right now, if you own real"},{"speaker":"Doug Spence","startTime":2090.884,"endTime":2093.164,"body":"estate, then you are a business owner."},{"speaker":"Doug Spence","startTime":2093.194,"endTime":2099.104,"body":"So this book is every single page is"},{"speaker":"Doug Spence","startTime":2093.194,"endTime":2099.104,"body":"packed full of useful information."},{"speaker":"Doug Spence","startTime":2099.224,"endTime":2100.484,"body":"One of my pet peeves is."},{"speaker":"Doug Spence","startTime":2100.784,"endTime":2103.364,"body":"There's a lot of business and"},{"speaker":"Doug Spence","startTime":2100.784,"endTime":2103.364,"body":"personal development books out there"},{"speaker":"Doug Spence","startTime":2103.364,"endTime":2108.764,"body":"that is 1, 2, 3 simple concepts"},{"speaker":"Doug Spence","startTime":2103.364,"endTime":2108.764,"body":"spread out over 250 pages and they"},{"speaker":"Doug Spence","startTime":2108.764,"endTime":2110.294,"body":"sell it for 20 bucks on Amazon."},{"speaker":"Doug Spence","startTime":2110.594,"endTime":2112.004,"body":"Traction is not one of those books."},{"speaker":"Doug Spence","startTime":2112.064,"endTime":2113.654,"body":"It is an excellent business book."},{"speaker":"Doug Spence","startTime":2113.954,"endTime":2116.858,"body":"And I think that's been the single most"},{"speaker":"Doug Spence","startTime":2113.954,"endTime":2116.858,"body":"impactful book I've read of the life."},{"speaker":"Average Joe Finances","startTime":2117.04,"endTime":2119.631,"body":"Fantastic . No,"},{"speaker":"Average Joe Finances","startTime":2117.04,"endTime":2119.631,"body":"I have not read that book, but I wrote"},{"speaker":"Average Joe Finances","startTime":2119.641,"endTime":2121.877,"body":"down and it is going on my list for sure."},{"speaker":"Doug Spence","startTime":2121.877,"endTime":2122.117,"body":"Put it at"},{"speaker":"Doug Spence","startTime":2122.117,"endTime":2122.527,"body":"the top."},{"speaker":"Doug Spence","startTime":2122.777,"endTime":2123.117,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2123.267,"endTime":2123.687,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2123.717,"endTime":2123.991,"body":"I will."},{"speaker":"Average Joe Finances","startTime":2123.991,"endTime":2125.251,"body":"It will be the next book I read then."},{"speaker":"Average Joe Finances","startTime":2125.315,"endTime":2126.254,"body":"So definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":2126.404,"endTime":2128.954,"body":"Most important question, Doug, because."},{"speaker":"Average Joe Finances","startTime":2129.275,"endTime":2133.177,"body":"We've talked about a couple of different"},{"speaker":"Average Joe Finances","startTime":2129.275,"endTime":2133.177,"body":"items here and,  I just think your"},{"speaker":"Average Joe Finances","startTime":2133.177,"endTime":2136.41,"body":"story is just so neat because of"},{"speaker":"Average Joe Finances","startTime":2133.177,"endTime":2136.41,"body":"you're touching so many different"},{"speaker":"Average Joe Finances","startTime":2136.56,"endTime":2140.549,"body":"aspects of real estate and you did"},{"speaker":"Average Joe Finances","startTime":2136.56,"endTime":2140.549,"body":"it all within the last couple years."},{"speaker":"Average Joe Finances","startTime":2140.549,"endTime":2143.039,"body":"It's not like you've been"},{"speaker":"Average Joe Finances","startTime":2140.549,"endTime":2143.039,"body":"doing this for a long time."},{"speaker":"Average Joe Finances","startTime":2143.039,"endTime":2147.175,"body":"You jumped from this to that, to this, to"},{"speaker":"Average Joe Finances","startTime":2143.039,"endTime":2147.175,"body":"that over time, it was like, Hey, boom."},{"speaker":"Average Joe Finances","startTime":2147.175,"endTime":2148.105,"body":"Let's get into the next thing."},{"speaker":"Average Joe Finances","startTime":2148.105,"endTime":2148.641,"body":"Boom,  boom."},{"speaker":"Average Joe Finances","startTime":2148.641,"endTime":2149.691,"body":"Let's get into the next thing."},{"speaker":"Average Joe Finances","startTime":2149.853,"endTime":2150.483,"body":"And I love that."},{"speaker":"Average Joe Finances","startTime":2150.483,"endTime":2154.559,"body":"Cause your focus was like, Hey, I,"},{"speaker":"Average Joe Finances","startTime":2150.483,"endTime":2154.559,"body":"the turnkey thing is awesome, but it's"},{"speaker":"Average Joe Finances","startTime":2154.559,"endTime":2156.492,"body":"taking me too long to get to my goal."},{"speaker":"Average Joe Finances","startTime":2156.492,"endTime":2157.858,"body":"What's another way that I could do this."},{"speaker":"Average Joe Finances","startTime":2158.158,"endTime":2161.181,"body":"And you started thinking outside"},{"speaker":"Average Joe Finances","startTime":2158.158,"endTime":2161.181,"body":"of the box, and then after that,"},{"speaker":"Average Joe Finances","startTime":2161.181,"endTime":2163.144,"body":"you were like, okay,  what's"},{"speaker":"Average Joe Finances","startTime":2161.181,"endTime":2163.144,"body":"another thing I can get into."},{"speaker":"Average Joe Finances","startTime":2163.144,"endTime":2165.514,"body":"Cause I have all this extra"},{"speaker":"Average Joe Finances","startTime":2163.144,"endTime":2165.514,"body":"capital sitting here and"},{"speaker":"Average Joe Finances","startTime":2165.514,"endTime":2166.564,"body":"you got into a syndication."},{"speaker":"Average Joe Finances","startTime":2166.564,"endTime":2169.417,"body":"So your mindset is just"},{"speaker":"Average Joe Finances","startTime":2166.564,"endTime":2169.417,"body":"absolutely amazing."},{"speaker":"Average Joe Finances","startTime":2169.717,"endTime":2174.139,"body":"Especially when it comes to growth"},{"speaker":"Average Joe Finances","startTime":2169.717,"endTime":2174.139,"body":"and you building up your portfolio."},{"speaker":"Average Joe Finances","startTime":2174.139,"endTime":2177.299,"body":"So people are probably going to want"},{"speaker":"Average Joe Finances","startTime":2174.139,"endTime":2177.299,"body":"to know a little bit more about you."},{"speaker":"Average Joe Finances","startTime":2177.509,"endTime":2180.209,"body":"Maybe want to get in touch with you"},{"speaker":"Average Joe Finances","startTime":2177.509,"endTime":2180.209,"body":"and pick your brain a little bit."},{"speaker":"Average Joe Finances","startTime":2180.209,"endTime":2182.789,"body":"So where can people find more about you?"},{"speaker":"Average Joe Finances","startTime":2183.089,"endTime":2186.359,"body":"Do you have a website you could share with"},{"speaker":"Average Joe Finances","startTime":2183.089,"endTime":2186.359,"body":"us or social media or anything like that?"},{"speaker":"Doug Spence","startTime":2186.659,"endTime":2187.409,"body":"Yeah, absolutely."},{"speaker":"Doug Spence","startTime":2187.501,"endTime":2190.031,"body":"About a year and a half ago,"},{"speaker":"Doug Spence","startTime":2187.501,"endTime":2190.031,"body":"I created a thought leadership"},{"speaker":"Doug Spence","startTime":2190.061,"endTime":2192.551,"body":"platform called honor and equity."},{"speaker":"Doug Spence","startTime":2192.581,"endTime":2196.311,"body":"So the purpose of honor and"},{"speaker":"Doug Spence","startTime":2192.581,"endTime":2196.311,"body":"equity is really educating."},{"speaker":"Doug Spence","startTime":2196.611,"endTime":2200.421,"body":"Military members, veterans and"},{"speaker":"Doug Spence","startTime":2196.611,"endTime":2200.421,"body":"their families about real estate"},{"speaker":"Doug Spence","startTime":2200.451,"endTime":2201.651,"body":"in the value of real estate."},{"speaker":"Doug Spence","startTime":2201.651,"endTime":2205.091,"body":"So we have a website"},{"speaker":"Doug Spence","startTime":2201.651,"endTime":2205.091,"body":"it's honorandequity.com."},{"speaker":"Doug Spence","startTime":2205.401,"endTime":2210.181,"body":"Then we also have an Instagram and a"},{"speaker":"Doug Spence","startTime":2205.401,"endTime":2210.181,"body":"Twitter handle it's @honorandequity"},{"speaker":"Doug Spence","startTime":2210.381,"endTime":2211.851,"body":"we're most active on Instagram."},{"speaker":"Doug Spence","startTime":2211.851,"endTime":2213.141,"body":"So definitely check us out there."},{"speaker":"Doug Spence","startTime":2213.441,"endTime":2215.031,"body":"I read all the messages myself."},{"speaker":"Doug Spence","startTime":2215.101,"endTime":2216.091,"body":"Definitely reach out to us."},{"speaker":"Doug Spence","startTime":2216.091,"endTime":2219.5,"body":"I love chatting with people about real"},{"speaker":"Doug Spence","startTime":2216.091,"endTime":2219.5,"body":"estate and if you're someone that's trying"},{"speaker":"Doug Spence","startTime":2219.5,"endTime":2223.55,"body":"to get started or you have questions,"},{"speaker":"Doug Spence","startTime":2219.5,"endTime":2223.55,"body":"please don't hesitate to reach out to us"},{"speaker":"Doug Spence","startTime":2223.55,"endTime":2227.72,"body":"because, and when I say us it's myself and"},{"speaker":"Doug Spence","startTime":2223.55,"endTime":2227.72,"body":"my business partner, who's my sister law"},{"speaker":"Doug Spence","startTime":2227.79,"endTime":2229.24,"body":"who actually lives out in Hawaii as well."},{"speaker":"Average Joe Finances","startTime":2229.24,"endTime":2229.99,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":2230.23,"endTime":2232.373,"body":"And, definitely go check out Doug's stuff."},{"speaker":"Average Joe Finances","startTime":2232.373,"endTime":2234.773,"body":"I'm going to, I'm going to"},{"speaker":"Average Joe Finances","startTime":2232.373,"endTime":2234.773,"body":"put all the links in the show"},{"speaker":"Average Joe Finances","startTime":2234.773,"endTime":2235.673,"body":"notes so you can find it."},{"speaker":"Average Joe Finances","startTime":2235.673,"endTime":2239.409,"body":"So that's honor and equity and,"},{"speaker":"Average Joe Finances","startTime":2235.673,"endTime":2239.409,"body":"Doug's actually written a guest"},{"speaker":"Average Joe Finances","startTime":2239.409,"endTime":2242.527,"body":"blog post for average show"},{"speaker":"Average Joe Finances","startTime":2239.409,"endTime":2242.527,"body":"finances, and it was really awesome."},{"speaker":"Average Joe Finances","startTime":2242.527,"endTime":2243.967,"body":"And I actually got some decent traffic."},{"speaker":"Average Joe Finances","startTime":2244.08,"endTime":2247.01,"body":"So he puts out some really good"},{"speaker":"Average Joe Finances","startTime":2244.08,"endTime":2247.01,"body":"information and, his blog and"},{"speaker":"Average Joe Finances","startTime":2247.01,"endTime":2248.24,"body":"his website is pretty awesome."},{"speaker":"Average Joe Finances","startTime":2248.298,"endTime":2252.308,"body":"Definitely recommend going to check it"},{"speaker":"Average Joe Finances","startTime":2248.298,"endTime":2252.308,"body":"out and following him on social media."},{"speaker":"Average Joe Finances","startTime":2252.558,"endTime":2255.3,"body":"Doug, it's a Saturday,  I know"},{"speaker":"Average Joe Finances","startTime":2252.558,"endTime":2255.3,"body":"it's getting a little late overall."},{"speaker":"Average Joe Finances","startTime":2255.3,"endTime":2256.05,"body":"It's not really too late."},{"speaker":"Average Joe Finances","startTime":2256.05,"endTime":2259.312,"body":"You're only two hours ahead, but,  I"},{"speaker":"Average Joe Finances","startTime":2256.05,"endTime":2259.312,"body":"appreciate you  taking the time out"},{"speaker":"Average Joe Finances","startTime":2259.312,"endTime":2261.562,"body":"to chat with me today on a Saturday."},{"speaker":"Average Joe Finances","startTime":2261.633,"endTime":2264.358,"body":"You probably want to go grab some"},{"speaker":"Average Joe Finances","startTime":2261.633,"endTime":2264.358,"body":"dinner,  and I've got to go take"},{"speaker":"Average Joe Finances","startTime":2264.358,"endTime":2267.878,"body":"down some Christmas decorations,"},{"speaker":"Average Joe Finances","startTime":2264.358,"endTime":2267.878,"body":"but I greatly appreciate you taking"},{"speaker":"Average Joe Finances","startTime":2267.878,"endTime":2269.258,"body":"some time to chat with me today."},{"speaker":"Doug Spence","startTime":2269.558,"endTime":2271.808,"body":"Yeah, sure thing,"},{"speaker":"Doug Spence","startTime":2269.558,"endTime":2271.808,"body":"Mike, I really appreciate the"},{"speaker":"Doug Spence","startTime":2271.808,"endTime":2274.977,"body":"opportunity to come and talk to"},{"speaker":"Doug Spence","startTime":2271.808,"endTime":2274.977,"body":"you and talk to your listeners."},{"speaker":"Doug Spence","startTime":2274.977,"endTime":2275.967,"body":"So thank you very much."},{"speaker":"Average Joe Finances","startTime":2276.267,"endTime":2276.627,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2276.627,"endTime":2277.077,"body":"All right, man."},{"speaker":"Average Joe Finances","startTime":2277.077,"endTime":2278.157,"body":"Aloha from Hawaii"},{"speaker":"Doug Spence","startTime":2278.467,"endTime":2278.907,"body":"Yeah."}]}