{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.149,"endTime":1.199,"body":"Hey,"},{"speaker":"Average Joe Finances","startTime":0.149,"endTime":1.199,"body":"how's it going everybody."},{"speaker":"Average Joe Finances","startTime":1.199,"endTime":3.539,"body":"Welcome back to the average"},{"speaker":"Average Joe Finances","startTime":1.199,"endTime":3.539,"body":"Joe finances podcast."},{"speaker":"Average Joe Finances","startTime":3.57,"endTime":7.629,"body":"I'm your host, Mike, Cavaggioni, and"},{"speaker":"Average Joe Finances","startTime":3.57,"endTime":7.629,"body":"today's guest is Fernando Angelucci."},{"speaker":"Average Joe Finances","startTime":7.929,"endTime":11.829,"body":"Fernando, always excited to talk to"},{"speaker":"Average Joe Finances","startTime":7.929,"endTime":11.829,"body":"another real estate investor, especially"},{"speaker":"Average Joe Finances","startTime":11.829,"endTime":15.009,"body":"somebody that's doing self storage,"},{"speaker":"Average Joe Finances","startTime":11.829,"endTime":15.009,"body":"because this is something that's been"},{"speaker":"Average Joe Finances","startTime":15.009,"endTime":16.479,"body":"in the back of my head for awhile."},{"speaker":"Average Joe Finances","startTime":16.66,"endTime":20.269,"body":"And I know a lot of people that listen"},{"speaker":"Average Joe Finances","startTime":16.66,"endTime":20.269,"body":"to my show have been asking about self"},{"speaker":"Average Joe Finances","startTime":20.269,"endTime":23.869,"body":"storage and I'm really excited to have"},{"speaker":"Average Joe Finances","startTime":20.269,"endTime":23.869,"body":"somebody come on today and talk about it."},{"speaker":"Average Joe Finances","startTime":23.869,"endTime":24.859,"body":"So welcome to the show."},{"speaker":"Fernando Angelucci","startTime":25.159,"endTime":25.999,"body":"Thanks"},{"speaker":"Fernando Angelucci","startTime":25.159,"endTime":25.999,"body":"for having me, Mike."},{"speaker":"Average Joe Finances","startTime":26.149,"endTime":26.689,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":26.689,"endTime":30.289,"body":"So the first question I'd like to ask"},{"speaker":"Average Joe Finances","startTime":26.689,"endTime":30.289,"body":"you is the same question I ask everybody"},{"speaker":"Average Joe Finances","startTime":30.289,"endTime":34.159,"body":"that comes on the show is I gave a"},{"speaker":"Average Joe Finances","startTime":30.289,"endTime":34.159,"body":"small background about you and who you"},{"speaker":"Average Joe Finances","startTime":34.159,"endTime":37.639,"body":"are but if you could share with us,"},{"speaker":"Average Joe Finances","startTime":34.159,"endTime":37.639,"body":"maybe go into a little bit more detail."},{"speaker":"Average Joe Finances","startTime":37.639,"endTime":38.599,"body":"What's your story?"},{"speaker":"Average Joe Finances","startTime":38.599,"endTime":39.859,"body":"How did this get started for you?"},{"speaker":"Fernando Angelucci","startTime":40.159,"endTime":40.849,"body":"Yeah, absolutely."},{"speaker":"Fernando Angelucci","startTime":40.849,"endTime":43.639,"body":"So I'm the son of two"},{"speaker":"Fernando Angelucci","startTime":40.849,"endTime":43.639,"body":"immigrants from Brazil."},{"speaker":"Fernando Angelucci","startTime":43.819,"endTime":47.609,"body":"So when they came over here, I had"},{"speaker":"Fernando Angelucci","startTime":43.819,"endTime":47.609,"body":"the old school American dream in"},{"speaker":"Fernando Angelucci","startTime":47.609,"endTime":50.159,"body":"their mind and that's what they wanted"},{"speaker":"Fernando Angelucci","startTime":47.609,"endTime":50.159,"body":"for their kids, me and my brother."},{"speaker":"Fernando Angelucci","startTime":50.459,"endTime":55.387,"body":"So go to school, get good grades,"},{"speaker":"Fernando Angelucci","startTime":50.459,"endTime":55.387,"body":"graduate and get a 40 year job retire"},{"speaker":"Fernando Angelucci","startTime":55.387,"endTime":58.332,"body":"with a pension once you're done,"},{"speaker":"Fernando Angelucci","startTime":55.387,"endTime":58.332,"body":"nowadays though, Kinda more of a pipe"},{"speaker":"Fernando Angelucci","startTime":58.332,"endTime":60.552,"body":"dream than reality for a lot of folks."},{"speaker":"Fernando Angelucci","startTime":60.852,"endTime":64.752,"body":"So basically what happened was when"},{"speaker":"Fernando Angelucci","startTime":60.852,"endTime":64.752,"body":"I was 16 years old, I had a teacher"},{"speaker":"Fernando Angelucci","startTime":64.782,"endTime":68.172,"body":"that gave me rich dad, poor dad as"},{"speaker":"Fernando Angelucci","startTime":64.782,"endTime":68.172,"body":"a book, I was a reading teacher."},{"speaker":"Fernando Angelucci","startTime":68.172,"endTime":70.853,"body":"I kept bugging her saying, I don't"},{"speaker":"Fernando Angelucci","startTime":68.172,"endTime":70.853,"body":"see how these fiction books are"},{"speaker":"Fernando Angelucci","startTime":70.853,"endTime":71.993,"body":"really going to help me in life."},{"speaker":"Fernando Angelucci","startTime":72.203,"endTime":75.743,"body":"And eventually she cracked in and"},{"speaker":"Fernando Angelucci","startTime":72.203,"endTime":75.743,"body":"revealed that she was a landlord herself."},{"speaker":"Fernando Angelucci","startTime":75.96,"endTime":79.021,"body":"So I blew through rich dad, poor"},{"speaker":"Fernando Angelucci","startTime":75.96,"endTime":79.021,"body":"dad, in like two days, someone"},{"speaker":"Fernando Angelucci","startTime":79.021,"endTime":82.37,"body":"that was a self proclaimed like"},{"speaker":"Fernando Angelucci","startTime":79.021,"endTime":82.37,"body":"slow reader, not good at reading."},{"speaker":"Fernando Angelucci","startTime":82.55,"endTime":86.87,"body":"And it changed the way that I looked"},{"speaker":"Fernando Angelucci","startTime":82.55,"endTime":86.87,"body":"at my life and how I want it to make"},{"speaker":"Fernando Angelucci","startTime":86.87,"endTime":88.91,"body":"money and how I'm gonna control my time."},{"speaker":"Fernando Angelucci","startTime":89.21,"endTime":91.959,"body":"So from there, I went to my dad and"},{"speaker":"Fernando Angelucci","startTime":89.21,"endTime":91.959,"body":"I basically said, Hey, I think I"},{"speaker":"Fernando Angelucci","startTime":91.959,"endTime":94.779,"body":"want to do this real estate thing"},{"speaker":"Fernando Angelucci","startTime":91.959,"endTime":94.779,"body":"and not go to school to which he"},{"speaker":"Fernando Angelucci","startTime":94.779,"endTime":96.459,"body":"responded with over my dead body."},{"speaker":"Fernando Angelucci","startTime":96.676,"endTime":100.305,"body":"So he gave me the Henry Ford kind of"},{"speaker":"Fernando Angelucci","startTime":96.676,"endTime":100.305,"body":"response, which is you can go, you can"},{"speaker":"Fernando Angelucci","startTime":100.305,"endTime":102.045,"body":"get any color as long as it's black."},{"speaker":"Fernando Angelucci","startTime":102.135,"endTime":105.355,"body":"He say, you can get any degree as long"},{"speaker":"Fernando Angelucci","startTime":102.135,"endTime":105.355,"body":"as it ends in the words engineering."},{"speaker":"Fernando Angelucci","startTime":105.505,"endTime":107.725,"body":"So I ended up getting"},{"speaker":"Fernando Angelucci","startTime":105.505,"endTime":107.725,"body":"my engineering degree."},{"speaker":"Fernando Angelucci","startTime":107.975,"endTime":111.975,"body":"But throughout that time I just"},{"speaker":"Fernando Angelucci","startTime":107.975,"endTime":111.975,"body":"started voraciously absorbing anything"},{"speaker":"Fernando Angelucci","startTime":111.975,"endTime":115.725,"body":"I could get on real estate, bigger"},{"speaker":"Fernando Angelucci","startTime":111.975,"endTime":115.725,"body":"pockets, any book, I get my hands on"},{"speaker":"Fernando Angelucci","startTime":115.725,"endTime":117.495,"body":"going to seminars and REIA meetings."},{"speaker":"Fernando Angelucci","startTime":117.795,"endTime":122.295,"body":"And then when I graduated, I actually"},{"speaker":"Fernando Angelucci","startTime":117.795,"endTime":122.295,"body":"did get a job with the fortune 50 company"},{"speaker":"Fernando Angelucci","startTime":122.295,"endTime":126.287,"body":"that gave me a pension and a 401k match"},{"speaker":"Fernando Angelucci","startTime":122.295,"endTime":126.287,"body":"and everything my dad was looking for."},{"speaker":"Fernando Angelucci","startTime":126.385,"endTime":130.895,"body":"But then within 13 months I quit"},{"speaker":"Fernando Angelucci","startTime":126.385,"endTime":130.895,"body":"to start real estate full time."},{"speaker":"Fernando Angelucci","startTime":131.045,"endTime":132.945,"body":"And the way, I guess she"},{"speaker":"Fernando Angelucci","startTime":131.045,"endTime":132.945,"body":"got into real estate."},{"speaker":"Fernando Angelucci","startTime":133.112,"endTime":133.802,"body":"A little heavy."},{"speaker":"Fernando Angelucci","startTime":133.802,"endTime":139.412,"body":"I don't recommend most people do this,"},{"speaker":"Fernando Angelucci","startTime":133.802,"endTime":139.412,"body":"but overnight I applied for 64 credit"},{"speaker":"Fernando Angelucci","startTime":139.412,"endTime":141.782,"body":"cards and I got like 12 approved."},{"speaker":"Fernando Angelucci","startTime":141.842,"endTime":146.267,"body":"And when they came a week and a half"},{"speaker":"Fernando Angelucci","startTime":141.842,"endTime":146.267,"body":"later, I cash advance $96,000 off of those"},{"speaker":"Fernando Angelucci","startTime":146.267,"endTime":148.487,"body":"cards to start my real estate business."},{"speaker":"Fernando Angelucci","startTime":148.637,"endTime":151.496,"body":"And then from there I started"},{"speaker":"Fernando Angelucci","startTime":148.637,"endTime":151.496,"body":"wholesaling, single family homes and"},{"speaker":"Fernando Angelucci","startTime":151.496,"endTime":155.196,"body":"flipping single family homes, then"},{"speaker":"Fernando Angelucci","startTime":151.496,"endTime":155.196,"body":"buying single-family rentals and then"},{"speaker":"Fernando Angelucci","startTime":155.346,"endTime":157.026,"body":"upgrade into multifamily rentals."},{"speaker":"Fernando Angelucci","startTime":157.326,"endTime":161.564,"body":"And then in about 2016, I was"},{"speaker":"Fernando Angelucci","startTime":157.326,"endTime":161.564,"body":"looking at my portfolio is pretty"},{"speaker":"Fernando Angelucci","startTime":161.564,"endTime":163.832,"body":"decent size is 60 or 70 units."},{"speaker":"Fernando Angelucci","startTime":163.985,"endTime":167.105,"body":"And I realized that my passive"},{"speaker":"Fernando Angelucci","startTime":163.985,"endTime":167.105,"body":"income didn't feel very passive."},{"speaker":"Fernando Angelucci","startTime":167.165,"endTime":169.445,"body":"I was working like 80 plus hours a week."},{"speaker":"Fernando Angelucci","startTime":169.475,"endTime":174.115,"body":"I had constant headaches and calls from"},{"speaker":"Fernando Angelucci","startTime":169.475,"endTime":174.115,"body":"tenants and calls from property managers"},{"speaker":"Fernando Angelucci","startTime":174.115,"endTime":175.915,"body":"about stuff happening in my properties."},{"speaker":"Fernando Angelucci","startTime":175.915,"endTime":176.635,"body":"And I just really."},{"speaker":"Fernando Angelucci","startTime":176.814,"endTime":178.494,"body":"I really wasn't happy with where I was."},{"speaker":"Fernando Angelucci","startTime":178.644,"endTime":182.274,"body":"So that's when I decided to make a"},{"speaker":"Fernando Angelucci","startTime":178.644,"endTime":182.274,"body":"switch and I jumped into self storage"},{"speaker":"Fernando Angelucci","startTime":182.304,"endTime":185.304,"body":"because I heard a mentor of mine say"},{"speaker":"Fernando Angelucci","startTime":182.304,"endTime":185.304,"body":"that with self storage, you have no"},{"speaker":"Fernando Angelucci","startTime":185.304,"endTime":187.314,"body":"tenants, no toilets and no trash."},{"speaker":"Fernando Angelucci","startTime":187.614,"endTime":191.184,"body":"And those are the three biggest causes"},{"speaker":"Fernando Angelucci","startTime":187.614,"endTime":191.184,"body":"of my headaches and my current portfolio."},{"speaker":"Fernando Angelucci","startTime":191.484,"endTime":195.144,"body":"So from that point on, I started"},{"speaker":"Fernando Angelucci","startTime":191.484,"endTime":195.144,"body":"wholesaling some self storage first, just"},{"speaker":"Fernando Angelucci","startTime":195.144,"endTime":199.242,"body":"to make sure that, I was underwriting"},{"speaker":"Fernando Angelucci","startTime":195.144,"endTime":199.242,"body":"properly and people that knew."},{"speaker":"Fernando Angelucci","startTime":199.392,"endTime":202.452,"body":"The game better than I would be willing"},{"speaker":"Fernando Angelucci","startTime":199.392,"endTime":202.452,"body":"to pay a higher price than what I"},{"speaker":"Fernando Angelucci","startTime":202.512,"endTime":203.982,"body":"got the deals under contract for it."},{"speaker":"Fernando Angelucci","startTime":204.282,"endTime":206.442,"body":"And after doing a few of those"},{"speaker":"Fernando Angelucci","startTime":204.282,"endTime":206.442,"body":"transactions, I was confident"},{"speaker":"Fernando Angelucci","startTime":206.442,"endTime":208.842,"body":"enough in my own ability to"},{"speaker":"Fernando Angelucci","startTime":206.442,"endTime":208.842,"body":"buy and take these things down."},{"speaker":"Fernando Angelucci","startTime":209.142,"endTime":212.562,"body":"So I bought my first self storage"},{"speaker":"Fernando Angelucci","startTime":209.142,"endTime":212.562,"body":"facility for a million dollars in"},{"speaker":"Fernando Angelucci","startTime":212.712,"endTime":218.958,"body":"August of 2018, and then fast forward"},{"speaker":"Fernando Angelucci","startTime":212.712,"endTime":218.958,"body":"to literally two days ago, I just"},{"speaker":"Fernando Angelucci","startTime":218.958,"endTime":221.358,"body":"crossed over 112 million in assets."},{"speaker":"Average Joe Finances","startTime":221.517,"endTime":221.787,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":221.816,"endTime":224.776,"body":"What a background as I'm sitting"},{"speaker":"Average Joe Finances","startTime":221.816,"endTime":224.776,"body":"here taking notes as you're going,"},{"speaker":"Average Joe Finances","startTime":224.926,"endTime":228.166,"body":"and there's so much to unpack here"},{"speaker":"Average Joe Finances","startTime":224.926,"endTime":228.166,"body":"just after the first question."},{"speaker":"Average Joe Finances","startTime":228.236,"endTime":229.193,"body":"This is crazy, man."},{"speaker":"Average Joe Finances","startTime":229.193,"endTime":229.797,"body":"But I love it."},{"speaker":"Average Joe Finances","startTime":229.797,"endTime":233.807,"body":"So your parents immigrated from"},{"speaker":"Average Joe Finances","startTime":229.797,"endTime":233.807,"body":"Brazil, but you have an Italian name."},{"speaker":"Average Joe Finances","startTime":233.917,"endTime":234.802,"body":"So how did that work?"},{"speaker":"Fernando Angelucci","startTime":234.952,"endTime":238.647,"body":"Yeah, during the"},{"speaker":"Fernando Angelucci","startTime":234.952,"endTime":238.647,"body":"wars, a lot of people that were fleeing"},{"speaker":"Fernando Angelucci","startTime":238.857,"endTime":242.217,"body":"the world wars, they couldn't get into"},{"speaker":"Fernando Angelucci","startTime":238.857,"endTime":242.217,"body":"the United States, but they can get"},{"speaker":"Fernando Angelucci","startTime":242.217,"endTime":243.717,"body":"into places like Canada and Brazil."},{"speaker":"Fernando Angelucci","startTime":244.017,"endTime":248.517,"body":"So I had a great grandmother that fled"},{"speaker":"Fernando Angelucci","startTime":244.017,"endTime":248.517,"body":"Italy and she moved to Southern Brazil."},{"speaker":"Fernando Angelucci","startTime":248.817,"endTime":250.506,"body":"And my dad, obviously."},{"speaker":"Fernando Angelucci","startTime":250.714,"endTime":252.154,"body":"That chain of the family."},{"speaker":"Fernando Angelucci","startTime":252.214,"endTime":253.895,"body":"They,  they kept it all Italian."},{"speaker":"Fernando Angelucci","startTime":253.895,"endTime":257.115,"body":"So my dad's a hundred percent Italian,"},{"speaker":"Fernando Angelucci","startTime":253.895,"endTime":257.115,"body":"but he's from Southern Brazil."},{"speaker":"Fernando Angelucci","startTime":257.205,"endTime":258.645,"body":"And then my mom is from Northern Brazil."},{"speaker":"Fernando Angelucci","startTime":258.645,"endTime":260.805,"body":"They actually met in church in Chicago."},{"speaker":"Fernando Angelucci","startTime":261.105,"endTime":262.695,"body":"So I actually didn't meet in Brazil."},{"speaker":"Fernando Angelucci","startTime":262.725,"endTime":264.599,"body":"And then I was born here in the suburbs."},{"speaker":"Average Joe Finances","startTime":264.749,"endTime":266.43,"body":"Right"},{"speaker":"Average Joe Finances","startTime":264.749,"endTime":266.43,"body":"in, oh, that's cool stuff, man."},{"speaker":"Average Joe Finances","startTime":266.58,"endTime":270.09,"body":"Really interesting to just see how,"},{"speaker":"Average Joe Finances","startTime":266.58,"endTime":270.09,"body":"how smaller world really is when"},{"speaker":"Average Joe Finances","startTime":270.09,"endTime":272.46,"body":"you start piecing it all together,"},{"speaker":"Average Joe Finances","startTime":270.09,"endTime":272.46,"body":"where people travel in from."},{"speaker":"Average Joe Finances","startTime":272.46,"endTime":275.334,"body":"And it's just pretty wild now,"},{"speaker":"Average Joe Finances","startTime":272.46,"endTime":275.334,"body":"fast forward a little bit."},{"speaker":"Average Joe Finances","startTime":275.352,"endTime":279.438,"body":"So you're going to school at the age"},{"speaker":"Average Joe Finances","startTime":275.352,"endTime":279.438,"body":"of 16, you cracked your teacher there"},{"speaker":"Average Joe Finances","startTime":279.448,"endTime":282.2,"body":"to get her to finally admit that she"},{"speaker":"Average Joe Finances","startTime":279.448,"endTime":282.2,"body":"does other things besides teaching."},{"speaker":"Average Joe Finances","startTime":282.221,"endTime":285.552,"body":"So she was probably in a much better"},{"speaker":"Average Joe Finances","startTime":282.221,"endTime":285.552,"body":"place than most of her colleagues, right?"},{"speaker":"Average Joe Finances","startTime":285.552,"endTime":288.072,"body":"So she was the landlord and she"},{"speaker":"Average Joe Finances","startTime":285.552,"endTime":288.072,"body":"handed you rich dad, poor dad."},{"speaker":"Average Joe Finances","startTime":288.372,"endTime":292.715,"body":"And at the age of 16 you read it and you"},{"speaker":"Average Joe Finances","startTime":288.372,"endTime":292.715,"body":"said in two days now, I think probably"},{"speaker":"Average Joe Finances","startTime":292.715,"endTime":295.124,"body":"the big difference is, because like you"},{"speaker":"Average Joe Finances","startTime":292.715,"endTime":295.124,"body":"said before  the stuff that you were"},{"speaker":"Average Joe Finances","startTime":295.124,"endTime":298.99,"body":"reading in school was all like, fiction"},{"speaker":"Average Joe Finances","startTime":295.124,"endTime":298.99,"body":"and just stuff that wasn't really going"},{"speaker":"Average Joe Finances","startTime":298.99,"endTime":301.28,"body":"to do anything for you outside of school."},{"speaker":"Average Joe Finances","startTime":301.28,"endTime":304.596,"body":"Besides help you get good"},{"speaker":"Average Joe Finances","startTime":301.28,"endTime":304.596,"body":"grades and you wanted something"},{"speaker":"Average Joe Finances","startTime":304.596,"endTime":305.826,"body":"that was going to be more."},{"speaker":"Average Joe Finances","startTime":306.126,"endTime":308.346,"body":"More realistic, something that"},{"speaker":"Average Joe Finances","startTime":306.126,"endTime":308.346,"body":"you can use in the future."},{"speaker":"Average Joe Finances","startTime":308.466,"endTime":310.476,"body":"And your teacher gave you"},{"speaker":"Average Joe Finances","startTime":308.466,"endTime":310.476,"body":"that book, which is awesome."},{"speaker":"Average Joe Finances","startTime":310.626,"endTime":313.479,"body":"So moving forward, now, you"},{"speaker":"Average Joe Finances","startTime":310.626,"endTime":313.479,"body":"go to your dad and you say,"},{"speaker":"Average Joe Finances","startTime":313.479,"endTime":315.262,"body":"Hey, I want to do real estate."},{"speaker":"Average Joe Finances","startTime":315.308,"endTime":316.058,"body":"This is a passion."},{"speaker":"Average Joe Finances","startTime":316.108,"endTime":318.598,"body":"Cause I know when I read that"},{"speaker":"Average Joe Finances","startTime":316.108,"endTime":318.598,"body":"book, like I was fired up."},{"speaker":"Average Joe Finances","startTime":318.628,"endTime":320.008,"body":"I was like, oh my God, let's go."},{"speaker":"Average Joe Finances","startTime":320.008,"endTime":323.048,"body":"I was listening to BiggerPockets"},{"speaker":"Average Joe Finances","startTime":320.008,"endTime":323.048,"body":"podcast and reading the forums"},{"speaker":"Average Joe Finances","startTime":323.068,"endTime":323.878,"body":"just like you were doing."},{"speaker":"Average Joe Finances","startTime":323.878,"endTime":325.031,"body":"And I'm like, oh, this is amazing."},{"speaker":"Average Joe Finances","startTime":325.031,"endTime":325.59,"body":"Let's go."},{"speaker":"Average Joe Finances","startTime":325.74,"endTime":329.156,"body":"And then your dad just pretty much crushed"},{"speaker":"Average Joe Finances","startTime":325.74,"endTime":329.156,"body":"your dreams right then and there and said,"},{"speaker":"Average Joe Finances","startTime":329.156,"endTime":332.96,"body":"yeah, if it doesn't end in engineering,"},{"speaker":"Average Joe Finances","startTime":329.156,"endTime":332.96,"body":"then you know, and you go into school and"},{"speaker":"Average Joe Finances","startTime":332.96,"endTime":336.43,"body":"getting a job that's gonna, pay for your"},{"speaker":"Average Joe Finances","startTime":332.96,"endTime":336.43,"body":"lifestyle, then it's not going to work."},{"speaker":"Average Joe Finances","startTime":336.43,"endTime":338.739,"body":"So you scratch that itch that he wanted."},{"speaker":"Average Joe Finances","startTime":338.739,"endTime":342.259,"body":"You went to school, got your engineering"},{"speaker":"Average Joe Finances","startTime":338.739,"endTime":342.259,"body":"degree and then got this job 13"},{"speaker":"Average Joe Finances","startTime":342.259,"endTime":343.819,"body":"months later, you're like, I'm done."},{"speaker":"Average Joe Finances","startTime":344.119,"endTime":346.129,"body":"So like you tried it his way."},{"speaker":"Average Joe Finances","startTime":346.429,"endTime":347.279,"body":"Wasn't working out."},{"speaker":"Average Joe Finances","startTime":347.449,"endTime":348.889,"body":"Decided to follow your dreams."},{"speaker":"Average Joe Finances","startTime":348.889,"endTime":350.122,"body":"And that's really amazing, man."},{"speaker":"Average Joe Finances","startTime":350.33,"endTime":355.33,"body":"And since then, like what you've built"},{"speaker":"Average Joe Finances","startTime":350.33,"endTime":355.33,"body":"over this the past, three years, as you"},{"speaker":"Average Joe Finances","startTime":355.33,"endTime":357.58,"body":"said is just absolutely amazing, man."},{"speaker":"Average Joe Finances","startTime":357.58,"endTime":358.57,"body":"So just well done."},{"speaker":"Average Joe Finances","startTime":358.87,"endTime":362.2,"body":"Now, the way you started really"},{"speaker":"Average Joe Finances","startTime":358.87,"endTime":362.2,"body":"made me cringe a little bit."},{"speaker":"Average Joe Finances","startTime":362.2,"endTime":363.46,"body":"I don't know if you saw,"},{"speaker":"Average Joe Finances","startTime":362.2,"endTime":363.46,"body":"when you were talking."},{"speaker":"Average Joe Finances","startTime":363.46,"endTime":365.2,"body":"I was sitting here taking"},{"speaker":"Average Joe Finances","startTime":363.46,"endTime":365.2,"body":"my notes in the face I made."},{"speaker":"Average Joe Finances","startTime":365.2,"endTime":367.428,"body":"When you talked about, you"},{"speaker":"Average Joe Finances","startTime":365.2,"endTime":367.428,"body":"applied for what was it?"},{"speaker":"Average Joe Finances","startTime":367.428,"endTime":372.678,"body":"62 credit cards, 12 approved and"},{"speaker":"Average Joe Finances","startTime":367.428,"endTime":372.678,"body":"took out $96,000 cash advance."},{"speaker":"Average Joe Finances","startTime":372.978,"endTime":374.718,"body":"On all of, oh my goodness, man."},{"speaker":"Average Joe Finances","startTime":375.018,"endTime":375.498,"body":"But wow."},{"speaker":"Average Joe Finances","startTime":375.648,"endTime":377.208,"body":"So what did you take"},{"speaker":"Average Joe Finances","startTime":375.648,"endTime":377.208,"body":"that cash events out for?"},{"speaker":"Average Joe Finances","startTime":377.212,"endTime":379.297,"body":"What did you actually"},{"speaker":"Average Joe Finances","startTime":377.212,"endTime":379.297,"body":"purchase with that cash?"},{"speaker":"Fernando Angelucci","startTime":379.447,"endTime":382.627,"body":"Yeah, so I went"},{"speaker":"Fernando Angelucci","startTime":379.447,"endTime":382.627,"body":"to one of these, like three-day"},{"speaker":"Fernando Angelucci","startTime":382.627,"endTime":386.509,"body":"seminars, one of these gurus that,"},{"speaker":"Fernando Angelucci","startTime":382.627,"endTime":386.509,"body":"they're selling this education."},{"speaker":"Fernando Angelucci","startTime":386.509,"endTime":389.29,"body":"And when I told him I didn't have money"},{"speaker":"Fernando Angelucci","startTime":386.509,"endTime":389.29,"body":"to buy the education, they said,  there's"},{"speaker":"Fernando Angelucci","startTime":389.29,"endTime":391.278,"body":"ways that you can get money quick."},{"speaker":"Fernando Angelucci","startTime":391.578,"endTime":394.778,"body":"And that's actually how they told me I"},{"speaker":"Fernando Angelucci","startTime":391.578,"endTime":394.778,"body":"can apply for all these credit cards is"},{"speaker":"Fernando Angelucci","startTime":394.778,"endTime":396.188,"body":"through one of these education classes."},{"speaker":"Fernando Angelucci","startTime":396.188,"endTime":400.241,"body":"So the first 30 grand of that"},{"speaker":"Fernando Angelucci","startTime":396.188,"endTime":400.241,"body":"like 96,000 actually paid for"},{"speaker":"Fernando Angelucci","startTime":400.241,"endTime":402.461,"body":"five courses in real estate."},{"speaker":"Fernando Angelucci","startTime":402.761,"endTime":407.951,"body":"It was wholesaling, creative financing,"},{"speaker":"Fernando Angelucci","startTime":402.761,"endTime":407.951,"body":"marketing, commercial, real estate."},{"speaker":"Fernando Angelucci","startTime":408.251,"endTime":411.851,"body":"And then I think the fifth one was,"},{"speaker":"Fernando Angelucci","startTime":408.251,"endTime":411.851,"body":"I think it was like an underwriting"},{"speaker":"Fernando Angelucci","startTime":411.851,"endTime":413.536,"body":"or another form of marketing."},{"speaker":"Average Joe Finances","startTime":413.686,"endTime":413.956,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":413.956,"endTime":415.786,"body":"So the first 30 K went to that."},{"speaker":"Average Joe Finances","startTime":416.086,"endTime":418.966,"body":"And then what about the other"},{"speaker":"Average Joe Finances","startTime":416.086,"endTime":418.966,"body":"66 k what did you do with that?"},{"speaker":"Average Joe Finances","startTime":418.996,"endTime":420.306,"body":"What was the first thing you bought?"},{"speaker":"Fernando Angelucci","startTime":420.631,"endTime":421.041,"body":"Yeah."},{"speaker":"Fernando Angelucci","startTime":421.041,"endTime":422.621,"body":"Immediately went into marketing dollars."},{"speaker":"Fernando Angelucci","startTime":422.651,"endTime":427.956,"body":"So I bought a list, started buying"},{"speaker":"Fernando Angelucci","startTime":422.651,"endTime":427.956,"body":"postage and envelopes and letters and"},{"speaker":"Fernando Angelucci","startTime":427.956,"endTime":432.096,"body":"started sending out just letters to any"},{"speaker":"Fernando Angelucci","startTime":427.956,"endTime":432.096,"body":"person that'd be willing to sell their"},{"speaker":"Fernando Angelucci","startTime":432.096,"endTime":434.196,"body":"house to me in the Des Moines Metro area."},{"speaker":"Average Joe Finances","startTime":434.496,"endTime":434.796,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":434.856,"endTime":436.436,"body":"So what kind of responses did you get?"},{"speaker":"Average Joe Finances","startTime":436.436,"endTime":437.546,"body":"Especially just starting out?"},{"speaker":"Average Joe Finances","startTime":437.548,"endTime":438.562,"body":"What were people saying to you?"},{"speaker":"Fernando Angelucci","startTime":438.758,"endTime":441.757,"body":"Yeah, it was"},{"speaker":"Fernando Angelucci","startTime":438.758,"endTime":441.757,"body":"interesting that I was had a little bit of"},{"speaker":"Fernando Angelucci","startTime":441.757,"endTime":444.587,"body":"a beaten down in the dirt type response."},{"speaker":"Fernando Angelucci","startTime":444.617,"endTime":448.487,"body":"The very first call I got was from the"},{"speaker":"Fernando Angelucci","startTime":444.617,"endTime":448.487,"body":"Iowa attorney general because someone"},{"speaker":"Fernando Angelucci","startTime":448.487,"endTime":450.257,"body":"reported me for being a fraudster."},{"speaker":"Fernando Angelucci","startTime":450.557,"endTime":453.121,"body":"And so the AG called me and was like, Hey."},{"speaker":"Fernando Angelucci","startTime":453.647,"endTime":457.247,"body":"I got someone saying that you sent"},{"speaker":"Fernando Angelucci","startTime":453.647,"endTime":457.247,"body":"them a letter, they think it's a scam."},{"speaker":"Fernando Angelucci","startTime":457.247,"endTime":457.939,"body":"What's going on?"},{"speaker":"Fernando Angelucci","startTime":457.939,"endTime":458.989,"body":"I said, no, sir."},{"speaker":"Fernando Angelucci","startTime":459.006,"endTime":462.553,"body":"I took this class on real estate"},{"speaker":"Fernando Angelucci","startTime":459.006,"endTime":462.553,"body":"last weekend and they said to buy"},{"speaker":"Fernando Angelucci","startTime":462.553,"endTime":465.943,"body":"lists of people that have old houses"},{"speaker":"Fernando Angelucci","startTime":462.553,"endTime":465.943,"body":"and to send them a letter to see if"},{"speaker":"Fernando Angelucci","startTime":465.943,"endTime":468.763,"body":"they'd be willing to sell it to me"},{"speaker":"Fernando Angelucci","startTime":465.943,"endTime":468.763,"body":"so I could fix it up and sell it."},{"speaker":"Fernando Angelucci","startTime":469.063,"endTime":470.863,"body":"And he said, That seems legit to me."},{"speaker":"Fernando Angelucci","startTime":470.863,"endTime":472.033,"body":"And then he just hung up the phone"},{"speaker":"Average Joe Finances","startTime":473.133,"endTime":473.373,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":473.673,"endTime":477.262,"body":"That must have been a scary first call"},{"speaker":"Average Joe Finances","startTime":473.673,"endTime":477.262,"body":"to get from your letter, sending out,"},{"speaker":"Average Joe Finances","startTime":477.262,"endTime":480.681,"body":"you got the attorney general calling you"},{"speaker":"Average Joe Finances","startTime":477.262,"endTime":480.681,"body":"saying, Hey man, we, somebody said you're"},{"speaker":"Average Joe Finances","startTime":480.681,"endTime":482.391,"body":"a scammer and you're committing fraud."},{"speaker":"Average Joe Finances","startTime":482.691,"endTime":484.531,"body":"I don't know how I'd feel about that."},{"speaker":"Average Joe Finances","startTime":484.751,"endTime":487.391,"body":"That might deter some"},{"speaker":"Average Joe Finances","startTime":484.751,"endTime":487.391,"body":"people just a little bit."},{"speaker":"Average Joe Finances","startTime":487.651,"endTime":489.732,"body":"So what was the next call you got."},{"speaker":"Fernando Angelucci","startTime":489.976,"endTime":491.596,"body":"Yeah, the"},{"speaker":"Fernando Angelucci","startTime":489.976,"endTime":491.596,"body":"next call is actually even worse."},{"speaker":"Fernando Angelucci","startTime":491.686,"endTime":495.164,"body":"So at the time, the very first"},{"speaker":"Fernando Angelucci","startTime":491.686,"endTime":495.164,"body":"list that I pulled was a probate"},{"speaker":"Fernando Angelucci","startTime":495.164,"endTime":496.617,"body":"list from the local courthouse."},{"speaker":"Fernando Angelucci","startTime":496.767,"endTime":501.327,"body":"And so the second call I got with this was"},{"speaker":"Fernando Angelucci","startTime":496.767,"endTime":501.327,"body":"this little lady and she called me how,"},{"speaker":"Fernando Angelucci","startTime":501.547,"endTime":505.837,"body":"she just finished up her probate of three"},{"speaker":"Fernando Angelucci","startTime":501.547,"endTime":505.837,"body":"years on her husband and she was just"},{"speaker":"Fernando Angelucci","startTime":505.837,"endTime":507.307,"body":"getting over the death of her husband."},{"speaker":"Fernando Angelucci","startTime":507.307,"endTime":507.766,"body":"And then."},{"speaker":"Fernando Angelucci","startTime":507.916,"endTime":511.096,"body":"My letter brought up all those"},{"speaker":"Fernando Angelucci","startTime":507.916,"endTime":511.096,"body":"feelings all over again, and I should"},{"speaker":"Fernando Angelucci","startTime":511.096,"endTime":512.686,"body":"be ashamed of myself for calling her."},{"speaker":"Fernando Angelucci","startTime":512.696,"endTime":517.552,"body":"So the first two calls are not"},{"speaker":"Fernando Angelucci","startTime":512.696,"endTime":517.552,"body":"great, but I had this $96,000"},{"speaker":"Fernando Angelucci","startTime":517.702,"endTime":519.442,"body":"hole burning in my pockets."},{"speaker":"Fernando Angelucci","startTime":519.442,"endTime":521.261,"body":"I said, let's just keep moving forward."},{"speaker":"Fernando Angelucci","startTime":521.414,"endTime":522.464,"body":"Trust in the process."},{"speaker":"Average Joe Finances","startTime":523.231,"endTime":525.691,"body":"Yeah, man,"},{"speaker":"Average Joe Finances","startTime":523.231,"endTime":525.691,"body":"especially so brand new credit cards so"},{"speaker":"Average Joe Finances","startTime":525.691,"endTime":528.301,"body":"the interest rates had to be astronomical."},{"speaker":"Average Joe Finances","startTime":528.473,"endTime":533.773,"body":"So that $96,000 hole at, by the time"},{"speaker":"Average Joe Finances","startTime":528.473,"endTime":533.773,"body":"you probably got to your first deal"},{"speaker":"Average Joe Finances","startTime":533.773,"endTime":537.473,"body":"was well over a hundred K at that"},{"speaker":"Average Joe Finances","startTime":533.773,"endTime":537.473,"body":"point, just from interest alone."},{"speaker":"Fernando Angelucci","startTime":537.473,"endTime":540.045,"body":"It was"},{"speaker":"Fernando Angelucci","startTime":537.473,"endTime":540.045,"body":"interesting because my dad was"},{"speaker":"Fernando Angelucci","startTime":540.045,"endTime":541.485,"body":"such a good financial steward."},{"speaker":"Fernando Angelucci","startTime":541.785,"endTime":544.755,"body":"And taught us very well when"},{"speaker":"Fernando Angelucci","startTime":541.785,"endTime":544.755,"body":"we were little, he taught"},{"speaker":"Fernando Angelucci","startTime":544.755,"endTime":546.045,"body":"us how important credit was."},{"speaker":"Fernando Angelucci","startTime":546.345,"endTime":550.485,"body":"So he added us onto his credit card"},{"speaker":"Fernando Angelucci","startTime":546.345,"endTime":550.485,"body":"lines when we were like six years old."},{"speaker":"Fernando Angelucci","startTime":550.515,"endTime":553.995,"body":"So coming out of college, I"},{"speaker":"Fernando Angelucci","startTime":550.515,"endTime":553.995,"body":"had an 800 plus credit score."},{"speaker":"Fernando Angelucci","startTime":554.025,"endTime":557.275,"body":"So because of that, I was actually getting"},{"speaker":"Fernando Angelucci","startTime":554.025,"endTime":557.275,"body":"Mo most of the cards that I got were"},{"speaker":"Fernando Angelucci","startTime":557.275,"endTime":559.675,"body":"actually at 0%, for 12 to 18 months."},{"speaker":"Fernando Angelucci","startTime":559.975,"endTime":563.875,"body":"And then after that 12 to 18 month"},{"speaker":"Fernando Angelucci","startTime":559.975,"endTime":563.875,"body":"timeline, then they jumped up to"},{"speaker":"Fernando Angelucci","startTime":563.875,"endTime":566.085,"body":"anywhere between 17 to 25 percent."},{"speaker":"Average Joe Finances","startTime":566.232,"endTime":569.595,"body":"That's a good start"},{"speaker":"Average Joe Finances","startTime":566.232,"endTime":569.595,"body":"though for, 12 months having a 12 to 18"},{"speaker":"Average Joe Finances","startTime":569.595,"endTime":574.356,"body":"months having 0%, especially investing"},{"speaker":"Average Joe Finances","startTime":569.595,"endTime":574.356,"body":"in real estate can be huge because that's"},{"speaker":"Average Joe Finances","startTime":574.356,"endTime":577.269,"body":"a lot of time, especially if you're"},{"speaker":"Average Joe Finances","startTime":574.356,"endTime":577.269,"body":"gonna start doing some flips and stuff."},{"speaker":"Average Joe Finances","startTime":577.269,"endTime":581.319,"body":"So now speaking of flips, so you got into,"},{"speaker":"Average Joe Finances","startTime":577.269,"endTime":581.319,"body":"was that the first thing you started doing"},{"speaker":"Average Joe Finances","startTime":581.319,"endTime":585.08,"body":"right away was flipping and wholesaling"},{"speaker":"Average Joe Finances","startTime":581.319,"endTime":585.08,"body":"on like residential properties?"},{"speaker":"Fernando Angelucci","startTime":585.25,"endTime":586.81,"body":"Yeah,"},{"speaker":"Fernando Angelucci","startTime":585.25,"endTime":586.81,"body":"the first was wholesaling."},{"speaker":"Fernando Angelucci","startTime":586.81,"endTime":590.23,"body":"So I was wholesaling for probably"},{"speaker":"Fernando Angelucci","startTime":586.81,"endTime":590.23,"body":"two years before I did my first."},{"speaker":"Fernando Angelucci","startTime":590.38,"endTime":593.28,"body":"And that's the way that I've been"},{"speaker":"Fernando Angelucci","startTime":590.38,"endTime":593.28,"body":"able to pay off all my credit card"},{"speaker":"Fernando Angelucci","startTime":593.28,"endTime":596.38,"body":"debt and start to see the nice thing"},{"speaker":"Fernando Angelucci","startTime":593.28,"endTime":596.38,"body":"about wholesaling is it takes very"},{"speaker":"Fernando Angelucci","startTime":596.38,"endTime":597.79,"body":"little risk, very little money."},{"speaker":"Fernando Angelucci","startTime":597.82,"endTime":601.031,"body":"So you can dip your toe in the"},{"speaker":"Fernando Angelucci","startTime":597.82,"endTime":601.031,"body":"water to see, Hey, am I underwriting"},{"speaker":"Fernando Angelucci","startTime":601.031,"endTime":602.081,"body":"these facilities correctly?"},{"speaker":"Fernando Angelucci","startTime":602.081,"endTime":603.561,"body":"Or these properties correctly?"},{"speaker":"Fernando Angelucci","startTime":603.571,"endTime":607.157,"body":"Am I, are my assumptions, correct on"},{"speaker":"Fernando Angelucci","startTime":603.571,"endTime":607.157,"body":"repair cost estimates and you get a lot"},{"speaker":"Fernando Angelucci","startTime":607.157,"endTime":609.377,"body":"of great feedback from these cash buyers."},{"speaker":"Fernando Angelucci","startTime":609.587,"endTime":610.337,"body":"The second advantage."},{"speaker":"Fernando Angelucci","startTime":610.487,"endTime":611.987,"body":"Starting the wholesaling spaces."},{"speaker":"Fernando Angelucci","startTime":612.287,"endTime":615.437,"body":"I made a conscious decision when I"},{"speaker":"Fernando Angelucci","startTime":612.287,"endTime":615.437,"body":"first started that any buyer that"},{"speaker":"Fernando Angelucci","startTime":615.437,"endTime":619.427,"body":"I wanted to get onto my cash buyer"},{"speaker":"Fernando Angelucci","startTime":615.437,"endTime":619.427,"body":"list, they had to interview with"},{"speaker":"Fernando Angelucci","startTime":619.427,"endTime":621.407,"body":"me first for 15 to 20 minutes."},{"speaker":"Fernando Angelucci","startTime":621.407,"endTime":623.747,"body":"And I got a lot of information"},{"speaker":"Fernando Angelucci","startTime":621.407,"endTime":623.747,"body":"out of those interviews."},{"speaker":"Fernando Angelucci","startTime":623.747,"endTime":628.997,"body":"I was able to basically leap frog 10"},{"speaker":"Fernando Angelucci","startTime":623.747,"endTime":628.997,"body":"to 20 years ahead in experience because"},{"speaker":"Fernando Angelucci","startTime":629.167,"endTime":630.866,"body":"I'd ask these guys the same questions."},{"speaker":"Fernando Angelucci","startTime":631.016,"endTime":632.246,"body":"How many recessions have you been through?"},{"speaker":"Fernando Angelucci","startTime":632.546,"endTime":634.016,"body":"How many times did you lose your shirt?"},{"speaker":"Fernando Angelucci","startTime":634.046,"endTime":636.176,"body":"Why, if you didn't lose"},{"speaker":"Fernando Angelucci","startTime":634.046,"endTime":636.176,"body":"your shirt, why not?"},{"speaker":"Fernando Angelucci","startTime":636.176,"endTime":639.536,"body":"And I started to learn the"},{"speaker":"Fernando Angelucci","startTime":636.176,"endTime":639.536,"body":"really good stewards of kind"},{"speaker":"Fernando Angelucci","startTime":639.536,"endTime":640.856,"body":"of the practices of money."},{"speaker":"Fernando Angelucci","startTime":641.035,"endTime":642.535,"body":"Keep your fixed expenses down."},{"speaker":"Fernando Angelucci","startTime":642.565,"endTime":646.412,"body":"Don't put too much, too many of"},{"speaker":"Fernando Angelucci","startTime":642.565,"endTime":646.412,"body":"your eggs in one basket, don't go"},{"speaker":"Fernando Angelucci","startTime":646.412,"endTime":649.978,"body":"extremely opt up opportunistic or"},{"speaker":"Fernando Angelucci","startTime":646.412,"endTime":649.978,"body":"growth, make sure that you're always"},{"speaker":"Fernando Angelucci","startTime":649.978,"endTime":651.851,"body":"balancing out with some good cash flow."},{"speaker":"Fernando Angelucci","startTime":651.891,"endTime":655.011,"body":"So that was extremely"},{"speaker":"Fernando Angelucci","startTime":651.891,"endTime":655.011,"body":"beneficial for me, starting out."},{"speaker":"Average Joe Finances","startTime":655.311,"endTime":657.201,"body":"Yeah, hold"},{"speaker":"Average Joe Finances","startTime":655.311,"endTime":657.201,"body":"the thought on that, because I want"},{"speaker":"Average Joe Finances","startTime":657.201,"endTime":659.961,"body":"to get to that a little bit later,"},{"speaker":"Average Joe Finances","startTime":657.201,"endTime":659.961,"body":"especially as you're talking about"},{"speaker":"Average Joe Finances","startTime":659.961,"endTime":661.971,"body":"recessions and everything, but, okay."},{"speaker":"Average Joe Finances","startTime":661.971,"endTime":664.377,"body":"So you started off, you"},{"speaker":"Average Joe Finances","startTime":661.971,"endTime":664.377,"body":"were doing flips, right?"},{"speaker":"Average Joe Finances","startTime":664.382,"endTime":668.229,"body":"And that's what helped give you like"},{"speaker":"Average Joe Finances","startTime":664.382,"endTime":668.229,"body":"a better idea to whether or not you're"},{"speaker":"Average Joe Finances","startTime":668.229,"endTime":671.9,"body":"underwriting correctly, as you're"},{"speaker":"Average Joe Finances","startTime":668.229,"endTime":671.9,"body":"looking at some of these,  these assets."},{"speaker":"Average Joe Finances","startTime":672.06,"endTime":677.115,"body":"And I really like what you did with"},{"speaker":"Average Joe Finances","startTime":672.06,"endTime":677.115,"body":"having these, short 15 minute interviews"},{"speaker":"Average Joe Finances","startTime":677.115,"endTime":681.311,"body":"with potential buyers and just picking"},{"speaker":"Average Joe Finances","startTime":677.115,"endTime":681.311,"body":"their brains, especially for people that"},{"speaker":"Average Joe Finances","startTime":681.311,"endTime":684.742,"body":"are experienced real estate investors,"},{"speaker":"Average Joe Finances","startTime":681.311,"endTime":684.742,"body":"taking the time to pick their brains"},{"speaker":"Average Joe Finances","startTime":684.742,"endTime":689.109,"body":"and figure out what worked for them,"},{"speaker":"Average Joe Finances","startTime":684.742,"endTime":689.109,"body":"what didn't work for them, if they did"},{"speaker":"Average Joe Finances","startTime":689.109,"endTime":693.201,"body":"fail, what caused them to fail like"},{"speaker":"Average Joe Finances","startTime":689.109,"endTime":693.201,"body":"that thought that way of thinking is"},{"speaker":"Average Joe Finances","startTime":693.201,"endTime":695.661,"body":"probably what accelerated you so quickly."},{"speaker":"Average Joe Finances","startTime":695.811,"endTime":698.85,"body":"And like you said, you were getting"},{"speaker":"Average Joe Finances","startTime":695.811,"endTime":698.85,"body":"years ahead now because of the"},{"speaker":"Average Joe Finances","startTime":698.85,"endTime":701.65,"body":"experience that you're getting, just"},{"speaker":"Average Joe Finances","startTime":698.85,"endTime":701.65,"body":"learning from these other individuals."},{"speaker":"Average Joe Finances","startTime":701.817,"endTime":704.283,"body":"That's just, that, that was super"},{"speaker":"Average Joe Finances","startTime":701.817,"endTime":704.283,"body":"smart man, to just put that together."},{"speaker":"Average Joe Finances","startTime":704.283,"endTime":708.462,"body":"So now, as you're doing the"},{"speaker":"Average Joe Finances","startTime":704.283,"endTime":708.462,"body":"wholesaling,  you said about two years"},{"speaker":"Average Joe Finances","startTime":708.462,"endTime":712.77,"body":"later, you started doing flips, but"},{"speaker":"Average Joe Finances","startTime":708.462,"endTime":712.77,"body":"when did you actually start buying,"},{"speaker":"Average Joe Finances","startTime":712.949,"endTime":715.27,"body":"cash flowing assets for yourself?"},{"speaker":"Average Joe Finances","startTime":715.277,"endTime":719.005,"body":"So you did the wholesaling and the flips,"},{"speaker":"Average Joe Finances","startTime":715.277,"endTime":719.005,"body":"to pay off your debt, and get yourself to"},{"speaker":"Average Joe Finances","startTime":719.005,"endTime":720.635,"body":"a better spot and start building capital."},{"speaker":"Average Joe Finances","startTime":720.785,"endTime":723.895,"body":"But when did you actually start"},{"speaker":"Average Joe Finances","startTime":720.785,"endTime":723.895,"body":"buying properties that cash flow."},{"speaker":"Fernando Angelucci","startTime":724.158,"endTime":726.032,"body":"Yeah, I actually"},{"speaker":"Fernando Angelucci","startTime":724.158,"endTime":726.032,"body":"started buying cashflow properties"},{"speaker":"Fernando Angelucci","startTime":726.032,"endTime":727.802,"body":"before I started flipping properties."},{"speaker":"Fernando Angelucci","startTime":727.834,"endTime":732.464,"body":"So I think it was maybe 12 or 18 months"},{"speaker":"Fernando Angelucci","startTime":727.834,"endTime":732.464,"body":"in the very first cashflow property I"},{"speaker":"Fernando Angelucci","startTime":732.464,"endTime":736.664,"body":"bought was a five unit property in the"},{"speaker":"Fernando Angelucci","startTime":732.464,"endTime":736.664,"body":"middle of nowhere in Southern Iowa."},{"speaker":"Fernando Angelucci","startTime":736.874,"endTime":739.424,"body":"It's called a small"},{"speaker":"Fernando Angelucci","startTime":736.874,"endTime":739.424,"body":"town Cod called Osceola."},{"speaker":"Fernando Angelucci","startTime":739.583,"endTime":741.493,"body":"Actually bought it with credit card debt."},{"speaker":"Fernando Angelucci","startTime":741.649,"endTime":743.249,"body":"It was 40 K cap."},{"speaker":"Fernando Angelucci","startTime":743.419,"endTime":744.539,"body":"I had five units."},{"speaker":"Fernando Angelucci","startTime":744.539,"endTime":747.509,"body":"They're all super tiny, either"},{"speaker":"Fernando Angelucci","startTime":744.539,"endTime":747.509,"body":"one bedrooms or studios."},{"speaker":"Fernando Angelucci","startTime":747.809,"endTime":752.26,"body":"And that was my first experiencing,"},{"speaker":"Fernando Angelucci","startTime":747.809,"endTime":752.26,"body":"first experience operating a let's"},{"speaker":"Fernando Angelucci","startTime":752.26,"endTime":755.56,"body":"call it a class D rental asset."},{"speaker":"Fernando Angelucci","startTime":755.68,"endTime":757.47,"body":"So I learned a lot trial by fire."},{"speaker":"Average Joe Finances","startTime":758.031,"endTime":758.331,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":758.331,"endTime":758.621,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":758.661,"endTime":763.091,"body":"And your first asset being a small"},{"speaker":"Average Joe Finances","startTime":758.661,"endTime":763.091,"body":"commercial multi-family property."},{"speaker":"Average Joe Finances","startTime":763.141,"endTime":766.609,"body":"So being five units, that's, you"},{"speaker":"Average Joe Finances","startTime":763.141,"endTime":766.609,"body":"can't go your typical way of,"},{"speaker":"Average Joe Finances","startTime":766.705,"endTime":767.998,"body":"taking out a mortgage on that."},{"speaker":"Average Joe Finances","startTime":768.028,"endTime":770.098,"body":"So you have to do commercial lending."},{"speaker":"Average Joe Finances","startTime":770.106,"endTime":773.532,"body":"That's what, a way to start,"},{"speaker":"Average Joe Finances","startTime":770.106,"endTime":773.532,"body":"and,  a class D property at that."},{"speaker":"Average Joe Finances","startTime":773.682,"endTime":778.242,"body":"That learning experience must have"},{"speaker":"Average Joe Finances","startTime":773.682,"endTime":778.242,"body":"been a very educational for you now,"},{"speaker":"Average Joe Finances","startTime":778.392,"endTime":781.607,"body":"as you're moving along here, you start"},{"speaker":"Average Joe Finances","startTime":778.392,"endTime":781.607,"body":"buying you, you said you got to what,"},{"speaker":"Average Joe Finances","startTime":781.607,"endTime":785.561,"body":"it was about 64 properties before"},{"speaker":"Average Joe Finances","startTime":781.607,"endTime":785.561,"body":"you switched over to self storage."},{"speaker":"Fernando Angelucci","startTime":785.861,"endTime":786.101,"body":"Yeah."},{"speaker":"Fernando Angelucci","startTime":786.251,"endTime":791.021,"body":"I think we had 69 doors was the total that"},{"speaker":"Fernando Angelucci","startTime":786.251,"endTime":791.021,"body":"we had before we, we started switching."},{"speaker":"Fernando Angelucci","startTime":791.171,"endTime":793.784,"body":"So in 2016 is when I"},{"speaker":"Fernando Angelucci","startTime":791.171,"endTime":793.784,"body":"decided to make a switch."},{"speaker":"Fernando Angelucci","startTime":793.844,"endTime":794.724,"body":"I ended up going to."},{"speaker":"Fernando Angelucci","startTime":794.874,"endTime":796.854,"body":"The Indianapolis real estate expo."},{"speaker":"Fernando Angelucci","startTime":796.974,"endTime":800.343,"body":"And I was peeking my head into"},{"speaker":"Fernando Angelucci","startTime":796.974,"endTime":800.343,"body":"the different rooms with the"},{"speaker":"Fernando Angelucci","startTime":800.343,"endTime":801.706,"body":"mini breakout presentations."},{"speaker":"Fernando Angelucci","startTime":801.856,"endTime":803.086,"body":"And that's when I met my mentor."},{"speaker":"Fernando Angelucci","startTime":803.236,"endTime":806.896,"body":"And, he was talking about no"},{"speaker":"Fernando Angelucci","startTime":803.236,"endTime":806.896,"body":"tenants, no toilets, no trash, the"},{"speaker":"Fernando Angelucci","startTime":806.896,"endTime":811.366,"body":"recession, resilience of self storage,"},{"speaker":"Fernando Angelucci","startTime":806.896,"endTime":811.366,"body":"the leverage available to you."},{"speaker":"Fernando Angelucci","startTime":811.562,"endTime":814.673,"body":"Also the upside, most people think"},{"speaker":"Fernando Angelucci","startTime":811.562,"endTime":814.673,"body":"that if something has lower risks,"},{"speaker":"Fernando Angelucci","startTime":814.722,"endTime":817.665,"body":"lower upside, but what we found with"},{"speaker":"Fernando Angelucci","startTime":814.722,"endTime":817.665,"body":"self storage is that there's actually"},{"speaker":"Fernando Angelucci","startTime":817.725,"endTime":820.255,"body":"asymmetric risk return parameters."},{"speaker":"Fernando Angelucci","startTime":820.405,"endTime":823.662,"body":"And at that point I said, I'm"},{"speaker":"Fernando Angelucci","startTime":820.405,"endTime":823.662,"body":"jumping both feet in, let's do this."},{"speaker":"Fernando Angelucci","startTime":823.692,"endTime":825.312,"body":"So we called my partner."},{"speaker":"Fernando Angelucci","startTime":825.312,"endTime":828.852,"body":"Steven said, Hey, it's time to start"},{"speaker":"Fernando Angelucci","startTime":825.312,"endTime":828.852,"body":"selling off our assets and switching over."},{"speaker":"Fernando Angelucci","startTime":829.152,"endTime":831.822,"body":"So then we aggressively started"},{"speaker":"Fernando Angelucci","startTime":829.152,"endTime":831.822,"body":"selling all of our rental properties."},{"speaker":"Fernando Angelucci","startTime":832.122,"endTime":835.963,"body":"And,  started basically switching"},{"speaker":"Fernando Angelucci","startTime":832.122,"endTime":835.963,"body":"that, that powerhouse marketing company"},{"speaker":"Fernando Angelucci","startTime":835.963,"endTime":839.383,"body":"we had, that was basically supplying"},{"speaker":"Fernando Angelucci","startTime":835.963,"endTime":839.383,"body":"our, all of our wholesale deals."},{"speaker":"Fernando Angelucci","startTime":839.533,"endTime":841.813,"body":"At this point, we were already,"},{"speaker":"Fernando Angelucci","startTime":839.533,"endTime":841.813,"body":"we were in, I think, five"},{"speaker":"Fernando Angelucci","startTime":841.813,"endTime":842.833,"body":"different states wholesaling."},{"speaker":"Fernando Angelucci","startTime":843.133,"endTime":847.183,"body":"So we just switched all of that effort"},{"speaker":"Fernando Angelucci","startTime":843.133,"endTime":847.183,"body":"over to finding self storage properties."},{"speaker":"Average Joe Finances","startTime":847.483,"endTime":847.693,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":847.693,"endTime":850.55,"body":"So making that swap, so you went from."},{"speaker":"Average Joe Finances","startTime":850.629,"endTime":855.076,"body":"Doing the wholesaling and you had a"},{"speaker":"Average Joe Finances","startTime":850.629,"endTime":855.076,"body":"company that was just strictly attacking"},{"speaker":"Average Joe Finances","startTime":855.076,"endTime":858.526,"body":"that earlier, when we were talking, you"},{"speaker":"Average Joe Finances","startTime":855.076,"endTime":858.526,"body":"had mentioned that you started, when"},{"speaker":"Average Joe Finances","startTime":858.526,"endTime":862.066,"body":"you first started with self storage, you"},{"speaker":"Average Joe Finances","startTime":858.526,"endTime":862.066,"body":"started with wholesaling self storage."},{"speaker":"Average Joe Finances","startTime":862.366,"endTime":864.196,"body":"Now I've never heard of this before."},{"speaker":"Average Joe Finances","startTime":864.248,"endTime":866.988,"body":"I've heard of wholesaling, rental"},{"speaker":"Average Joe Finances","startTime":864.248,"endTime":866.988,"body":"properties and things like that."},{"speaker":"Average Joe Finances","startTime":866.988,"endTime":869.738,"body":"I've never heard of somebody"},{"speaker":"Average Joe Finances","startTime":866.988,"endTime":869.738,"body":"wholesaling, self storage."},{"speaker":"Average Joe Finances","startTime":869.768,"endTime":871.338,"body":"I'm pretty sure it works the same way."},{"speaker":"Average Joe Finances","startTime":871.49,"endTime":874.37,"body":"What was your thought process behind"},{"speaker":"Average Joe Finances","startTime":871.49,"endTime":874.37,"body":"that when you decided, okay, I'm going to"},{"speaker":"Average Joe Finances","startTime":874.37,"endTime":878.715,"body":"wholesale self storage at first, before"},{"speaker":"Average Joe Finances","startTime":874.37,"endTime":878.715,"body":"I start actually purchasing these assets."},{"speaker":"Fernando Angelucci","startTime":879.015,"endTime":879.675,"body":"Yeah, absolutely."},{"speaker":"Fernando Angelucci","startTime":879.675,"endTime":883.501,"body":"So again,  I'm an engineer by training,"},{"speaker":"Fernando Angelucci","startTime":879.675,"endTime":883.501,"body":"so everything I approach is from a"},{"speaker":"Fernando Angelucci","startTime":883.651,"endTime":885.781,"body":"risk mitigation standpoint, number one."},{"speaker":"Fernando Angelucci","startTime":886.081,"endTime":890.671,"body":"And then if I can cover the risk"},{"speaker":"Fernando Angelucci","startTime":886.081,"endTime":890.671,"body":"basis, then I look at, okay, how"},{"speaker":"Fernando Angelucci","startTime":890.671,"endTime":891.751,"body":"do we make money off of this?"},{"speaker":"Fernando Angelucci","startTime":891.901,"endTime":897.151,"body":"The easiest way I figured to understand"},{"speaker":"Fernando Angelucci","startTime":891.901,"endTime":897.151,"body":"the industry was to first get the reps in"},{"speaker":"Fernando Angelucci","startTime":897.331,"endTime":901.351,"body":"underwriting and doing these transactions,"},{"speaker":"Fernando Angelucci","startTime":897.331,"endTime":901.351,"body":"but with none of my own capital at risk,"},{"speaker":"Fernando Angelucci","startTime":901.358,"endTime":903.108,"body":"other than earnest money, if you will."},{"speaker":"Fernando Angelucci","startTime":903.408,"endTime":906.031,"body":"So I would, I just literally"},{"speaker":"Fernando Angelucci","startTime":903.408,"endTime":906.031,"body":"switched all of my."},{"speaker":"Fernando Angelucci","startTime":906.181,"endTime":909.121,"body":"And I'm one of those proponents"},{"speaker":"Fernando Angelucci","startTime":906.181,"endTime":909.121,"body":"of done is better than perfect."},{"speaker":"Fernando Angelucci","startTime":909.421,"endTime":913.081,"body":"So instead of reinventing the wheel, I"},{"speaker":"Fernando Angelucci","startTime":909.421,"endTime":913.081,"body":"literally just took all of the processes"},{"speaker":"Fernando Angelucci","startTime":913.081,"endTime":916.111,"body":"and procedures I had in my wholesaling"},{"speaker":"Fernando Angelucci","startTime":913.081,"endTime":916.111,"body":"company, including the letters, and then"},{"speaker":"Fernando Angelucci","startTime":916.111,"endTime":919.861,"body":"just switch the word house or home to self"},{"speaker":"Fernando Angelucci","startTime":916.111,"endTime":919.861,"body":"storage facility, and then started sending"},{"speaker":"Fernando Angelucci","startTime":919.861,"endTime":921.991,"body":"them out to the list that I had purchased."},{"speaker":"Fernando Angelucci","startTime":922.291,"endTime":923.521,"body":"And then they started calling us."},{"speaker":"Fernando Angelucci","startTime":923.821,"endTime":926.971,"body":"One of the interesting things that I"},{"speaker":"Fernando Angelucci","startTime":923.821,"endTime":926.971,"body":"learned though, was it is a little bit"},{"speaker":"Fernando Angelucci","startTime":926.971,"endTime":933.511,"body":"different than the small single family"},{"speaker":"Fernando Angelucci","startTime":926.971,"endTime":933.511,"body":"or multi-family world where as small"},{"speaker":"Fernando Angelucci","startTime":933.511,"endTime":937.231,"body":"properties when you're a wholesaler,"},{"speaker":"Fernando Angelucci","startTime":933.511,"endTime":937.231,"body":"you're typically having a conversation"},{"speaker":"Fernando Angelucci","startTime":937.231,"endTime":939.001,"body":"around solving a problem, right?"},{"speaker":"Fernando Angelucci","startTime":939.301,"endTime":941.611,"body":"They owe money somewhere."},{"speaker":"Fernando Angelucci","startTime":941.611,"endTime":943.201,"body":"They don't have enough"},{"speaker":"Fernando Angelucci","startTime":941.611,"endTime":943.201,"body":"money to pay the bills."},{"speaker":"Fernando Angelucci","startTime":943.201,"endTime":944.641,"body":"They need cash fast."},{"speaker":"Fernando Angelucci","startTime":944.941,"endTime":948.081,"body":"That is not the type of conversation"},{"speaker":"Fernando Angelucci","startTime":944.941,"endTime":948.081,"body":"you have with self storage owners."},{"speaker":"Fernando Angelucci","startTime":948.251,"endTime":951.581,"body":"What I found out is as self storage"},{"speaker":"Fernando Angelucci","startTime":948.251,"endTime":951.581,"body":"facilities, even if you're trying to"},{"speaker":"Fernando Angelucci","startTime":951.581,"endTime":954.341,"body":"lose money, it's almost impossible"},{"speaker":"Fernando Angelucci","startTime":951.581,"endTime":954.341,"body":"to lose money at these things."},{"speaker":"Fernando Angelucci","startTime":954.641,"endTime":959.141,"body":"So knowing that called me back was in"},{"speaker":"Fernando Angelucci","startTime":954.641,"endTime":959.141,"body":"any type of level of distress whatsoever."},{"speaker":"Fernando Angelucci","startTime":959.171,"endTime":960.971,"body":"They're all cashflowing,"},{"speaker":"Fernando Angelucci","startTime":959.171,"endTime":960.971,"body":"they're all happy."},{"speaker":"Fernando Angelucci","startTime":961.271,"endTime":964.721,"body":"And it was, instead of it being, let me"},{"speaker":"Fernando Angelucci","startTime":961.271,"endTime":964.721,"body":"solve your problem type of conversation."},{"speaker":"Fernando Angelucci","startTime":964.751,"endTime":965.251,"body":"It was more."},{"speaker":"Fernando Angelucci","startTime":965.551,"endTime":969.121,"body":"Let me take your daughter to the"},{"speaker":"Fernando Angelucci","startTime":965.551,"endTime":969.121,"body":"dance type of conversation, where"},{"speaker":"Fernando Angelucci","startTime":969.121,"endTime":970.385,"body":"they needed to know and trust you."},{"speaker":"Fernando Angelucci","startTime":970.385,"endTime":972.345,"body":"They didn't care how money,"},{"speaker":"Fernando Angelucci","startTime":970.385,"endTime":972.345,"body":"how much money you had."},{"speaker":"Fernando Angelucci","startTime":972.495,"endTime":974.745,"body":"They wanted to know that you're"},{"speaker":"Fernando Angelucci","startTime":972.495,"endTime":974.745,"body":"going to take care of their baby"},{"speaker":"Fernando Angelucci","startTime":974.745,"endTime":976.515,"body":"after they had given it to you."},{"speaker":"Fernando Angelucci","startTime":976.815,"endTime":979.965,"body":"So the rapport building takes much longer."},{"speaker":"Fernando Angelucci","startTime":979.965,"endTime":983.404,"body":"These transactions are a little bit"},{"speaker":"Fernando Angelucci","startTime":979.965,"endTime":983.404,"body":"longer from start to finish, whereas,"},{"speaker":"Fernando Angelucci","startTime":983.414,"endTime":986.414,"body":"a single family home, I could be"},{"speaker":"Fernando Angelucci","startTime":983.414,"endTime":986.414,"body":"under contract within 30 days and"},{"speaker":"Fernando Angelucci","startTime":986.414,"endTime":990.754,"body":"then, day one and then close within"},{"speaker":"Fernando Angelucci","startTime":986.414,"endTime":990.754,"body":"30 to 45 days later and get paid."},{"speaker":"Fernando Angelucci","startTime":990.784,"endTime":994.774,"body":"These ones are a little bit longer,"},{"speaker":"Fernando Angelucci","startTime":990.784,"endTime":994.774,"body":"maybe 3, 6, 9 month transactions,"},{"speaker":"Fernando Angelucci","startTime":995.074,"endTime":996.694,"body":"but the spreads are much larger."},{"speaker":"Fernando Angelucci","startTime":996.694,"endTime":997.924,"body":"So instead of making."},{"speaker":"Fernando Angelucci","startTime":998.074,"endTime":1001.282,"body":"Already our wholesaling company was"},{"speaker":"Fernando Angelucci","startTime":998.074,"endTime":1001.282,"body":"making a pretty large spread on average,"},{"speaker":"Fernando Angelucci","startTime":1001.349,"endTime":1004.902,"body":"most wholesalers, they make five,"},{"speaker":"Fernando Angelucci","startTime":1001.349,"endTime":1004.902,"body":"maybe eight grand per transaction."},{"speaker":"Fernando Angelucci","startTime":1005.172,"endTime":1010.842,"body":"We were making 30, I think 32,600 was our"},{"speaker":"Fernando Angelucci","startTime":1005.172,"endTime":1010.842,"body":"average rip for wholesale deal in Chicago."},{"speaker":"Fernando Angelucci","startTime":1010.851,"endTime":1015.756,"body":"On the storage side, we're pulling like"},{"speaker":"Fernando Angelucci","startTime":1010.851,"endTime":1015.756,"body":"200 to 300 K a transaction, a metric"},{"speaker":"Fernando Angelucci","startTime":1015.756,"endTime":1017.483,"body":"closing, a 300 K wholesale here in"},{"speaker":"Average Joe Finances","startTime":1017.483,"endTime":1018.053,"body":"that's awesome."},{"speaker":"Fernando Angelucci","startTime":1018.083,"endTime":1018.293,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1018.513,"endTime":1018.815,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1018.815,"endTime":1020.846,"body":"Now you said you're closing one"},{"speaker":"Average Joe Finances","startTime":1018.815,"endTime":1020.846,"body":"here in the next three weeks."},{"speaker":"Average Joe Finances","startTime":1020.846,"endTime":1024.467,"body":"So I guess it's safe to say that not"},{"speaker":"Average Joe Finances","startTime":1020.846,"endTime":1024.467,"body":"only are you at the point now where"},{"speaker":"Average Joe Finances","startTime":1024.537,"endTime":1028.51,"body":"you're purchasing, self storage,"},{"speaker":"Average Joe Finances","startTime":1024.537,"endTime":1028.51,"body":"assets for yourself, but you're still"},{"speaker":"Average Joe Finances","startTime":1028.51,"endTime":1030.205,"body":"doing the wholesaling, as it comes up."},{"speaker":"Average Joe Finances","startTime":1030.205,"endTime":1031.532,"body":"So what is, okay."},{"speaker":"Average Joe Finances","startTime":1031.832,"endTime":1033.872,"body":"Because you're still because"},{"speaker":"Average Joe Finances","startTime":1031.832,"endTime":1033.872,"body":"you're doing both now."},{"speaker":"Average Joe Finances","startTime":1033.872,"endTime":1038.803,"body":"What is like the, your go no-go criteria"},{"speaker":"Average Joe Finances","startTime":1033.872,"endTime":1038.803,"body":"for saying, yeah, I'm going to wholesale"},{"speaker":"Average Joe Finances","startTime":1038.803,"endTime":1040.433,"body":"this one or I'm going to keep this one."},{"speaker":"Fernando Angelucci","startTime":1040.583,"endTime":1041.423,"body":"Yeah, for sure."},{"speaker":"Fernando Angelucci","startTime":1041.483,"endTime":1045.653,"body":"So a lot of our buyers ask, why am I"},{"speaker":"Fernando Angelucci","startTime":1041.483,"endTime":1045.653,"body":"buying the stuff that you say no to?"},{"speaker":"Fernando Angelucci","startTime":1045.953,"endTime":1048.503,"body":"And my answer is because we're at"},{"speaker":"Fernando Angelucci","startTime":1045.953,"endTime":1048.503,"body":"different places, our investing"},{"speaker":"Fernando Angelucci","startTime":1048.503,"endTime":1049.883,"body":"journey and what we're looking for."},{"speaker":"Fernando Angelucci","startTime":1050.183,"endTime":1053.605,"body":"So a lot of, there's about"},{"speaker":"Fernando Angelucci","startTime":1050.183,"endTime":1053.605,"body":"70,000 facilities in the United"},{"speaker":"Fernando Angelucci","startTime":1053.605,"endTime":1054.67,"body":"States and a lot of them."},{"speaker":"Fernando Angelucci","startTime":1054.97,"endTime":1056.98,"body":"In the beginning of my career"},{"speaker":"Fernando Angelucci","startTime":1054.97,"endTime":1056.98,"body":"would have been perfect."},{"speaker":"Fernando Angelucci","startTime":1057.01,"endTime":1058.3,"body":"They're just small."},{"speaker":"Fernando Angelucci","startTime":1058.479,"endTime":1060.429,"body":"10, maybe 15,000 square feet."},{"speaker":"Fernando Angelucci","startTime":1060.646,"endTime":1063.556,"body":"But now that I'm amassing a pretty"},{"speaker":"Fernando Angelucci","startTime":1060.646,"endTime":1063.556,"body":"large portfolio and I'm trying to get"},{"speaker":"Fernando Angelucci","startTime":1063.556,"endTime":1067.036,"body":"to this pretty large goal, our goal"},{"speaker":"Fernando Angelucci","startTime":1063.556,"endTime":1067.036,"body":"is to have eight and a half million"},{"speaker":"Fernando Angelucci","startTime":1067.036,"endTime":1071.776,"body":"square feet by December of 2030,"},{"speaker":"Fernando Angelucci","startTime":1067.036,"endTime":1071.776,"body":"which would equate in today's dollars"},{"speaker":"Fernando Angelucci","startTime":1071.776,"endTime":1074.146,"body":"to about a $1.4 billion portfolio."},{"speaker":"Fernando Angelucci","startTime":1074.176,"endTime":1076.996,"body":"And then we'll exit a hedge"},{"speaker":"Fernando Angelucci","startTime":1074.176,"endTime":1076.996,"body":"fund to get to that number."},{"speaker":"Fernando Angelucci","startTime":1076.996,"endTime":1081.166,"body":"I can't keep buying tiny"},{"speaker":"Fernando Angelucci","startTime":1076.996,"endTime":1081.166,"body":"facilities, 10, 15,000 square feet."},{"speaker":"Fernando Angelucci","startTime":1081.166,"endTime":1084.406,"body":"So here's my back of the"},{"speaker":"Fernando Angelucci","startTime":1081.166,"endTime":1084.406,"body":"napkin go, no go criteria."},{"speaker":"Fernando Angelucci","startTime":1084.436,"endTime":1089.236,"body":"Number one, it needs to be a minimum"},{"speaker":"Fernando Angelucci","startTime":1084.436,"endTime":1089.236,"body":"of 35,000 square feet day one, number"},{"speaker":"Fernando Angelucci","startTime":1089.236,"endTime":1093.436,"body":"two, within 18 months, I need to be"},{"speaker":"Fernando Angelucci","startTime":1089.236,"endTime":1093.436,"body":"able to expand the facility with the"},{"speaker":"Fernando Angelucci","startTime":1093.436,"endTime":1097.156,"body":"available land that it comes with"},{"speaker":"Fernando Angelucci","startTime":1093.436,"endTime":1097.156,"body":"to get up to 65,000 square feet."},{"speaker":"Fernando Angelucci","startTime":1097.456,"endTime":1101.506,"body":"Number three, I need to be able to buy"},{"speaker":"Fernando Angelucci","startTime":1097.456,"endTime":1101.506,"body":"this thing at or below replacement cost."},{"speaker":"Fernando Angelucci","startTime":1101.806,"endTime":1103.816,"body":"If it hits those three metrics, I keep it."},{"speaker":"Fernando Angelucci","startTime":1103.876,"endTime":1106.126,"body":"If it doesn't hit those three"},{"speaker":"Fernando Angelucci","startTime":1103.876,"endTime":1106.126,"body":"metrics, I sell it to somebody."},{"speaker":"Average Joe Finances","startTime":1106.426,"endTime":1107.296,"body":"Okay, right on."},{"speaker":"Average Joe Finances","startTime":1107.296,"endTime":1107.476,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1107.476,"endTime":1111.253,"body":"So that's important though, that you"},{"speaker":"Average Joe Finances","startTime":1107.476,"endTime":1111.253,"body":"have your key criteria that you stick"},{"speaker":"Average Joe Finances","startTime":1111.253,"endTime":1115.199,"body":"to, that, you know what, whether it's go"},{"speaker":"Average Joe Finances","startTime":1111.253,"endTime":1115.199,"body":"no-go for you to keep that asset or not,"},{"speaker":"Average Joe Finances","startTime":1115.376,"endTime":1119.096,"body":"which is awesome because you're still"},{"speaker":"Average Joe Finances","startTime":1115.376,"endTime":1119.096,"body":"getting these folks that are contacting"},{"speaker":"Average Joe Finances","startTime":1119.096,"endTime":1122.908,"body":"you, that, that have the self storage"},{"speaker":"Average Joe Finances","startTime":1119.096,"endTime":1122.908,"body":"facilities that don't meet the criteria"},{"speaker":"Average Joe Finances","startTime":1122.908,"endTime":1126.232,"body":"of something that you would want to keep"},{"speaker":"Average Joe Finances","startTime":1122.908,"endTime":1126.232,"body":"for yourself, but you can still wholesale"},{"speaker":"Average Joe Finances","startTime":1126.232,"endTime":1130.603,"body":"that and continue to build and raise"},{"speaker":"Average Joe Finances","startTime":1126.232,"endTime":1130.603,"body":"more capital to go purchase those other"},{"speaker":"Average Joe Finances","startTime":1130.603,"endTime":1132.734,"body":"assets that, that you want to get into."},{"speaker":"Average Joe Finances","startTime":1132.734,"endTime":1134.771,"body":"So that's absolutely awesome, dude."},{"speaker":"Fernando Angelucci","startTime":1134.97,"endTime":1136.97,"body":"And one of the"},{"speaker":"Fernando Angelucci","startTime":1134.97,"endTime":1136.97,"body":"things too is, people don't realize."},{"speaker":"Fernando Angelucci","startTime":1137.173,"endTime":1138.823,"body":"Really most real estate businesses."},{"speaker":"Fernando Angelucci","startTime":1138.883,"endTime":1140.833,"body":"Aren't actually real estate businesses."},{"speaker":"Fernando Angelucci","startTime":1140.893,"endTime":1143.833,"body":"If you're going to be a high"},{"speaker":"Fernando Angelucci","startTime":1140.893,"endTime":1143.833,"body":"transaction volume player, your"},{"speaker":"Fernando Angelucci","startTime":1143.833,"endTime":1147.283,"body":"business is truly a marketing"},{"speaker":"Fernando Angelucci","startTime":1143.833,"endTime":1147.283,"body":"business, not a real estate business."},{"speaker":"Fernando Angelucci","startTime":1147.583,"endTime":1151.303,"body":"So when people ask me, I was like,  why"},{"speaker":"Fernando Angelucci","startTime":1147.583,"endTime":1151.303,"body":"don't I just go find my own facility as"},{"speaker":"Fernando Angelucci","startTime":1151.303,"endTime":1152.593,"body":"opposed to paying you a wholesale fee?"},{"speaker":"Fernando Angelucci","startTime":1152.593,"endTime":1157.359,"body":"I say, sure, try to get to it before I"},{"speaker":"Fernando Angelucci","startTime":1152.593,"endTime":1157.359,"body":"do, I pay $150,000 a year just in postage"},{"speaker":"Fernando Angelucci","startTime":1157.359,"endTime":1160.429,"body":"and stamps alone to blanket the market."},{"speaker":"Fernando Angelucci","startTime":1160.489,"endTime":1163.249,"body":"I hit the lower 48"},{"speaker":"Fernando Angelucci","startTime":1160.489,"endTime":1163.249,"body":"states four times a year."},{"speaker":"Fernando Angelucci","startTime":1163.549,"endTime":1165.469,"body":"Every facility in the United States."},{"speaker":"Fernando Angelucci","startTime":1165.636,"endTime":1166.686,"body":"That meets our criteria."},{"speaker":"Fernando Angelucci","startTime":1166.686,"endTime":1168.396,"body":"We'll get a letter from"},{"speaker":"Fernando Angelucci","startTime":1166.686,"endTime":1168.396,"body":"us four times a year."},{"speaker":"Fernando Angelucci","startTime":1168.41,"endTime":1172.787,"body":"So that's what people don't realize is"},{"speaker":"Fernando Angelucci","startTime":1168.41,"endTime":1172.787,"body":"the amount of marketing needed to do this"},{"speaker":"Fernando Angelucci","startTime":1172.817,"endTime":1175.577,"body":"is that's just the postage cost, right?"},{"speaker":"Fernando Angelucci","startTime":1175.577,"endTime":1178.967,"body":"That doesn't cost that doesn't count"},{"speaker":"Fernando Angelucci","startTime":1175.577,"endTime":1178.967,"body":"all of our staff in our marketing"},{"speaker":"Fernando Angelucci","startTime":1178.967,"endTime":1181.517,"body":"department, we've got seven full-time"},{"speaker":"Fernando Angelucci","startTime":1178.967,"endTime":1181.517,"body":"people in our marketing department,"},{"speaker":"Fernando Angelucci","startTime":1181.517,"endTime":1184.757,"body":"all of our cold callers, our"},{"speaker":"Fernando Angelucci","startTime":1181.517,"endTime":1184.757,"body":"underwriters, our acquisition reps."},{"speaker":"Fernando Angelucci","startTime":1184.966,"endTime":1189.935,"body":"So we use the wholesale proceeds"},{"speaker":"Fernando Angelucci","startTime":1184.966,"endTime":1189.935,"body":"almost as a way to just get free"},{"speaker":"Fernando Angelucci","startTime":1189.935,"endTime":1192.975,"body":"marketing and then allow us to"},{"speaker":"Fernando Angelucci","startTime":1189.935,"endTime":1192.975,"body":"get the deal flow that we want."},{"speaker":"Fernando Angelucci","startTime":1193.005,"endTime":1196.395,"body":"We're looking at anywhere between 20"},{"speaker":"Fernando Angelucci","startTime":1193.005,"endTime":1196.395,"body":"to 25 deals a week, and then we get to"},{"speaker":"Fernando Angelucci","startTime":1196.395,"endTime":1198.375,"body":"pick the stuff that makes sense for us."},{"speaker":"Fernando Angelucci","startTime":1198.435,"endTime":1199.395,"body":"And then all the other deals."},{"speaker":"Fernando Angelucci","startTime":1199.395,"endTime":1200.415,"body":"They're not bad deals."},{"speaker":"Fernando Angelucci","startTime":1200.715,"endTime":1203.745,"body":"They're just not the right size"},{"speaker":"Fernando Angelucci","startTime":1200.715,"endTime":1203.745,"body":"for us or in the right locations."},{"speaker":"Fernando Angelucci","startTime":1204.015,"endTime":1205.425,"body":"So we sell them off to other investors."},{"speaker":"Fernando Angelucci","startTime":1205.425,"endTime":1209.025,"body":"We had a wholesale deal that we sold"},{"speaker":"Fernando Angelucci","startTime":1205.425,"endTime":1209.025,"body":"to investor two weeks ago, had an 11%."},{"speaker":"Fernando Angelucci","startTime":1209.325,"endTime":1212.715,"body":"So it's not like I'm sending"},{"speaker":"Fernando Angelucci","startTime":1209.325,"endTime":1212.715,"body":"trash across the plate here."},{"speaker":"Fernando Angelucci","startTime":1212.731,"endTime":1217.092,"body":"I'm beating the market by five, 600"},{"speaker":"Fernando Angelucci","startTime":1212.731,"endTime":1217.092,"body":"basis points in a market where let's"},{"speaker":"Fernando Angelucci","startTime":1217.092,"endTime":1220.932,"body":"say a broker will bring you a deal of"},{"speaker":"Fernando Angelucci","startTime":1217.092,"endTime":1220.932,"body":"value that deal at a five cap day one."},{"speaker":"Fernando Angelucci","startTime":1221.232,"endTime":1224.142,"body":"You can buy them from me"},{"speaker":"Fernando Angelucci","startTime":1221.232,"endTime":1224.142,"body":"at a 7, 8, 9, 10 or 11 cap."},{"speaker":"Average Joe Finances","startTime":1224.442,"endTime":1224.592,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1224.614,"endTime":1226.624,"body":"That's pretty phenomenal numbers, man."},{"speaker":"Average Joe Finances","startTime":1226.864,"endTime":1231.004,"body":"So you're getting your,   finder's fee,"},{"speaker":"Average Joe Finances","startTime":1226.864,"endTime":1231.004,"body":"for being a wholesaler, but it's not."},{"speaker":"Average Joe Finances","startTime":1231.216,"endTime":1233.676,"body":"The person who's purchasing it"},{"speaker":"Average Joe Finances","startTime":1231.216,"endTime":1233.676,"body":"from you by paying that extra"},{"speaker":"Average Joe Finances","startTime":1233.676,"endTime":1236.136,"body":"300 K is missing out on anything."},{"speaker":"Average Joe Finances","startTime":1236.436,"endTime":1241.76,"body":"They're getting a cash flowing, a really"},{"speaker":"Average Joe Finances","startTime":1236.436,"endTime":1241.76,"body":"nice cash flowing asset from day one."},{"speaker":"Average Joe Finances","startTime":1241.977,"endTime":1244.037,"body":"So that's the other thing"},{"speaker":"Average Joe Finances","startTime":1241.977,"endTime":1244.037,"body":"to keep in mind here."},{"speaker":"Average Joe Finances","startTime":1244.037,"endTime":1246.534,"body":"For those that are listening,"},{"speaker":"Average Joe Finances","startTime":1244.037,"endTime":1246.534,"body":"He's actually, he's providing a"},{"speaker":"Average Joe Finances","startTime":1246.534,"endTime":1247.872,"body":"great service with good deals."},{"speaker":"Average Joe Finances","startTime":1247.922,"endTime":1249.002,"body":"That's super awesome, dude."},{"speaker":"Average Joe Finances","startTime":1249.169,"endTime":1252.599,"body":"And now going a little further"},{"speaker":"Average Joe Finances","startTime":1249.169,"endTime":1252.599,"body":"into self storage, right?"},{"speaker":"Average Joe Finances","startTime":1252.749,"endTime":1255.965,"body":"As you were talking, actually, I'm"},{"speaker":"Average Joe Finances","startTime":1252.749,"endTime":1255.965,"body":"rewinding back a little bit to when"},{"speaker":"Average Joe Finances","startTime":1255.965,"endTime":1257.315,"body":"you were picking people's brains."},{"speaker":"Average Joe Finances","startTime":1257.326,"endTime":1260.799,"body":"Cause there was something that"},{"speaker":"Average Joe Finances","startTime":1257.326,"endTime":1260.799,"body":"you asked that I wrote down and"},{"speaker":"Average Joe Finances","startTime":1260.799,"endTime":1262.273,"body":"it's sticking out of my head here."},{"speaker":"Average Joe Finances","startTime":1262.423,"endTime":1267.071,"body":"And that was when you ask people, what,"},{"speaker":"Average Joe Finances","startTime":1262.423,"endTime":1267.071,"body":"if you lost your shirt, what caused it?"},{"speaker":"Average Joe Finances","startTime":1267.071,"endTime":1268.961,"body":"And if you didn't lose"},{"speaker":"Average Joe Finances","startTime":1267.071,"endTime":1268.961,"body":"your shirt, why not?"},{"speaker":"Average Joe Finances","startTime":1269.12,"endTime":1274.58,"body":"Now when it comes to self storage,"},{"speaker":"Average Joe Finances","startTime":1269.12,"endTime":1274.58,"body":"how has it historically performed."},{"speaker":"Fernando Angelucci","startTime":1274.826,"endTime":1276.7,"body":"Yeah, it's"},{"speaker":"Fernando Angelucci","startTime":1274.826,"endTime":1276.7,"body":"historically done really well."},{"speaker":"Fernando Angelucci","startTime":1276.917,"endTime":1278.867,"body":"So if you look at the last, let's say."},{"speaker":"Fernando Angelucci","startTime":1279.167,"endTime":1280.517,"body":"Three or four recessions."},{"speaker":"Fernando Angelucci","startTime":1280.817,"endTime":1284.267,"body":"It has some of the best recession"},{"speaker":"Fernando Angelucci","startTime":1280.817,"endTime":1284.267,"body":"resistance of any asset class."},{"speaker":"Fernando Angelucci","startTime":1284.567,"endTime":1286.577,"body":"So let's look at oh 7 0 9."},{"speaker":"Fernando Angelucci","startTime":1286.577,"endTime":1289.397,"body":"A lot of people felt some"},{"speaker":"Fernando Angelucci","startTime":1286.577,"endTime":1289.397,"body":"pain from that period of time."},{"speaker":"Fernando Angelucci","startTime":1289.697,"endTime":1293.567,"body":"The S and P 500 lost"},{"speaker":"Fernando Angelucci","startTime":1289.697,"endTime":1293.567,"body":"about 22% of its value."},{"speaker":"Fernando Angelucci","startTime":1293.687,"endTime":1296.807,"body":"During those two years, self"},{"speaker":"Fernando Angelucci","startTime":1293.687,"endTime":1296.807,"body":"storage on the other hand lost"},{"speaker":"Fernando Angelucci","startTime":1296.807,"endTime":1299.387,"body":"only about 3.8% of its value."},{"speaker":"Fernando Angelucci","startTime":1299.387,"endTime":1300.887,"body":"So something that's very"},{"speaker":"Fernando Angelucci","startTime":1299.387,"endTime":1300.887,"body":"easy to recover, but."},{"speaker":"Fernando Angelucci","startTime":1301.187,"endTime":1302.896,"body":"The second piece is let's fast forward."},{"speaker":"Fernando Angelucci","startTime":1302.926,"endTime":1307.016,"body":"Let's look at the recent COVID pandemic"},{"speaker":"Fernando Angelucci","startTime":1302.926,"endTime":1307.016,"body":"during the COVID pandemic, according"},{"speaker":"Fernando Angelucci","startTime":1307.016,"endTime":1310.646,"body":"to trap, which is a commercial mortgage"},{"speaker":"Fernando Angelucci","startTime":1307.016,"endTime":1310.646,"body":"backed securities research firm."},{"speaker":"Fernando Angelucci","startTime":1310.946,"endTime":1315.716,"body":"Of the 1700 CMBS loans that were made"},{"speaker":"Fernando Angelucci","startTime":1310.946,"endTime":1315.716,"body":"to self storage investors in the first"},{"speaker":"Fernando Angelucci","startTime":1315.716,"endTime":1320.096,"body":"three quarters of the pandemic, only three"},{"speaker":"Fernando Angelucci","startTime":1315.716,"endTime":1320.096,"body":"were delinquent by more than 30 days."},{"speaker":"Fernando Angelucci","startTime":1320.096,"endTime":1325.946,"body":"That's a 0.17% delinquency"},{"speaker":"Fernando Angelucci","startTime":1320.096,"endTime":1325.946,"body":"rate during that same time."},{"speaker":"Fernando Angelucci","startTime":1326.246,"endTime":1332.456,"body":"Multifamily was defaulting at"},{"speaker":"Fernando Angelucci","startTime":1326.246,"endTime":1332.456,"body":"a rate of 1800% higher or 18 X,"},{"speaker":"Fernando Angelucci","startTime":1332.486,"endTime":1334.136,"body":"the default rate of self storage."},{"speaker":"Fernando Angelucci","startTime":1334.436,"endTime":1337.526,"body":"So the recession resilience of this"},{"speaker":"Fernando Angelucci","startTime":1334.436,"endTime":1337.526,"body":"asset is absolutely phenomenal."},{"speaker":"Fernando Angelucci","startTime":1337.526,"endTime":1340.946,"body":"I think the reason for that is"},{"speaker":"Fernando Angelucci","startTime":1337.526,"endTime":1340.946,"body":"self storage is something that"},{"speaker":"Fernando Angelucci","startTime":1340.946,"endTime":1344.576,"body":"serves people in transition and"},{"speaker":"Fernando Angelucci","startTime":1340.946,"endTime":1344.576,"body":"it's transitioned up or down."},{"speaker":"Fernando Angelucci","startTime":1344.876,"endTime":1348.296,"body":"So when the market's going down and"},{"speaker":"Fernando Angelucci","startTime":1344.876,"endTime":1348.296,"body":"people have to downsize or change"},{"speaker":"Fernando Angelucci","startTime":1348.326,"endTime":1352.496,"body":"jobs, They're going to use storage, but"},{"speaker":"Fernando Angelucci","startTime":1348.326,"endTime":1352.496,"body":"then the same thing is true when the"},{"speaker":"Fernando Angelucci","startTime":1352.496,"endTime":1355.856,"body":"market's going up and people have money"},{"speaker":"Fernando Angelucci","startTime":1352.496,"endTime":1355.856,"body":"and they're buying goods and things"},{"speaker":"Fernando Angelucci","startTime":1355.856,"endTime":1359.576,"body":"that they don't have room to store, or"},{"speaker":"Fernando Angelucci","startTime":1355.856,"endTime":1359.576,"body":"they're moving to get other jobs that"},{"speaker":"Fernando Angelucci","startTime":1359.576,"endTime":1363.52,"body":"are paying better or they're getting a"},{"speaker":"Fernando Angelucci","startTime":1359.576,"endTime":1363.52,"body":"larger house because they need more room."},{"speaker":"Fernando Angelucci","startTime":1363.687,"endTime":1366.047,"body":"Those people are also going"},{"speaker":"Fernando Angelucci","startTime":1363.687,"endTime":1366.047,"body":"to use storage as well."},{"speaker":"Average Joe Finances","startTime":1366.214,"endTime":1367.821,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":1366.214,"endTime":1367.821,"body":"that's some very good points."},{"speaker":"Average Joe Finances","startTime":1367.821,"endTime":1372.888,"body":"Like it's, doesn't matter where the market"},{"speaker":"Average Joe Finances","startTime":1367.821,"endTime":1372.888,"body":"is or where the economies is at the point,"},{"speaker":"Average Joe Finances","startTime":1372.888,"endTime":1375.288,"body":"self storage is always going to be there."},{"speaker":"Average Joe Finances","startTime":1375.358,"endTime":1378.016,"body":"I guess to, to let you cry on"},{"speaker":"Average Joe Finances","startTime":1375.358,"endTime":1378.016,"body":"their shoulder when you need them."},{"speaker":"Average Joe Finances","startTime":1378.036,"endTime":1380.85,"body":"So if you're downsizing and you"},{"speaker":"Average Joe Finances","startTime":1378.036,"endTime":1380.85,"body":"need a plan, you have to put your"},{"speaker":"Average Joe Finances","startTime":1380.85,"endTime":1384.094,"body":"stuff somewhere while you're in the"},{"speaker":"Average Joe Finances","startTime":1380.85,"endTime":1384.094,"body":"middle of downsizing, self storage."},{"speaker":"Average Joe Finances","startTime":1384.394,"endTime":1387.937,"body":"If you're upgrading and it's,"},{"speaker":"Average Joe Finances","startTime":1384.394,"endTime":1387.937,"body":"you purchasing more stuff, you're"},{"speaker":"Average Joe Finances","startTime":1387.937,"endTime":1389.057,"body":"going to go buy a bigger property."},{"speaker":"Average Joe Finances","startTime":1389.267,"endTime":1390.047,"body":"Self storage."},{"speaker":"Fernando Angelucci","startTime":1390.197,"endTime":1393.255,"body":"And that's just like"},{"speaker":"Fernando Angelucci","startTime":1390.197,"endTime":1393.255,"body":"the downside numbers and I'm giving you"},{"speaker":"Fernando Angelucci","startTime":1393.345,"endTime":1395.475,"body":"the outside numbers are even better."},{"speaker":"Fernando Angelucci","startTime":1395.535,"endTime":1400.075,"body":"So let's look at the last 30 years of"},{"speaker":"Fernando Angelucci","startTime":1395.535,"endTime":1400.075,"body":"return across multiple asset classes,"},{"speaker":"Fernando Angelucci","startTime":1400.375,"endTime":1402.565,"body":"the S and P 500 returned about 8%."},{"speaker":"Fernando Angelucci","startTime":1402.865,"endTime":1405.865,"body":"Multi-family returned about 13%."},{"speaker":"Fernando Angelucci","startTime":1405.895,"endTime":1409.945,"body":"These are average annual returns, self"},{"speaker":"Fernando Angelucci","startTime":1405.895,"endTime":1409.945,"body":"storage returned about 17 and a half."},{"speaker":"Fernando Angelucci","startTime":1409.945,"endTime":1411.115,"body":"So what does that mean?"},{"speaker":"Fernando Angelucci","startTime":1411.115,"endTime":1414.505,"body":"And especially, I want to point out"},{"speaker":"Fernando Angelucci","startTime":1411.115,"endTime":1414.505,"body":"the difference between multi-family"},{"speaker":"Fernando Angelucci","startTime":1414.505,"endTime":1418.075,"body":"and self storage that difference"},{"speaker":"Fernando Angelucci","startTime":1414.505,"endTime":1418.075,"body":"4% may not seem like a lot, but"},{"speaker":"Fernando Angelucci","startTime":1418.075,"endTime":1420.175,"body":"that's a compounding annual return."},{"speaker":"Fernando Angelucci","startTime":1420.475,"endTime":1423.595,"body":"So if you had a hundred thousand"},{"speaker":"Fernando Angelucci","startTime":1420.475,"endTime":1423.595,"body":"dollars to invest in an asset class"},{"speaker":"Fernando Angelucci","startTime":1423.655,"endTime":1426.865,"body":"over the last 30 years, if you put"},{"speaker":"Fernando Angelucci","startTime":1423.655,"endTime":1426.865,"body":"that a hundred thousand in the S and P"},{"speaker":"Fernando Angelucci","startTime":1426.865,"endTime":1429.985,"body":"500 today, you'd have about $550,000."},{"speaker":"Fernando Angelucci","startTime":1430.285,"endTime":1433.425,"body":"If you put them in apartment buildings,"},{"speaker":"Fernando Angelucci","startTime":1430.285,"endTime":1433.425,"body":"you'd have about 1.8 million."},{"speaker":"Fernando Angelucci","startTime":1433.725,"endTime":1437.595,"body":"If you put that same hundred K into"},{"speaker":"Fernando Angelucci","startTime":1433.725,"endTime":1437.595,"body":"self storage 30 years ago, you'd"},{"speaker":"Fernando Angelucci","startTime":1437.595,"endTime":1439.725,"body":"have a little over $4 million."},{"speaker":"Fernando Angelucci","startTime":1439.735,"endTime":1444.795,"body":"So double the return of apartments, just"},{"speaker":"Fernando Angelucci","startTime":1439.735,"endTime":1444.795,"body":"because of that 4% compounding return."},{"speaker":"Average Joe Finances","startTime":1445.095,"endTime":1445.275,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1445.575,"endTime":1448.215,"body":"Compound interest is a beautiful"},{"speaker":"Average Joe Finances","startTime":1445.575,"endTime":1448.215,"body":"thing there's a reason why it's called"},{"speaker":"Average Joe Finances","startTime":1448.215,"endTime":1449.535,"body":"the eighth wonder of the world, man."},{"speaker":"Average Joe Finances","startTime":1449.595,"endTime":1455.745,"body":"So yeah, it could just a small percentage"},{"speaker":"Average Joe Finances","startTime":1449.595,"endTime":1455.745,"body":"difference can really over, over time."},{"speaker":"Average Joe Finances","startTime":1456.265,"endTime":1459.377,"body":"Be huge in the difference"},{"speaker":"Average Joe Finances","startTime":1456.265,"endTime":1459.377,"body":"in the amount that you make."},{"speaker":"Average Joe Finances","startTime":1459.377,"endTime":1462.084,"body":"So it's, yeah, that's definitely"},{"speaker":"Average Joe Finances","startTime":1459.377,"endTime":1462.084,"body":"something to keep in the back of"},{"speaker":"Average Joe Finances","startTime":1462.084,"endTime":1463.513,"body":"your mind with,  with self storage."},{"speaker":"Average Joe Finances","startTime":1463.609,"endTime":1465.409,"body":"I didn't know the numbers"},{"speaker":"Average Joe Finances","startTime":1463.609,"endTime":1465.409,"body":"or the percentages."},{"speaker":"Average Joe Finances","startTime":1465.431,"endTime":1467.364,"body":"So you telling me that, that's the"},{"speaker":"Average Joe Finances","startTime":1465.431,"endTime":1467.364,"body":"first time I heard that, I didn't"},{"speaker":"Average Joe Finances","startTime":1467.364,"endTime":1471.587,"body":"realize that it was 4% higher than"},{"speaker":"Average Joe Finances","startTime":1467.364,"endTime":1471.587,"body":"multi-family, which is phenomenal."},{"speaker":"Average Joe Finances","startTime":1471.587,"endTime":1475.087,"body":"How does self storage perform"},{"speaker":"Average Joe Finances","startTime":1471.587,"endTime":1475.087,"body":"during recessions or pandemics, like"},{"speaker":"Average Joe Finances","startTime":1475.117,"endTime":1475.987,"body":"what we're dealing with right now."},{"speaker":"Average Joe Finances","startTime":1475.987,"endTime":1477.387,"body":"So I'm glad you talked about that."},{"speaker":"Average Joe Finances","startTime":1477.537,"endTime":1482.202,"body":"Now you've done so much in, in"},{"speaker":"Average Joe Finances","startTime":1477.537,"endTime":1482.202,"body":"a short amount of time to get"},{"speaker":"Average Joe Finances","startTime":1482.202,"endTime":1485.363,"body":"to where you're at right now and"},{"speaker":"Average Joe Finances","startTime":1482.202,"endTime":1485.363,"body":"built this large company, right?"},{"speaker":"Average Joe Finances","startTime":1485.363,"endTime":1488.723,"body":"You're at the point where you have"},{"speaker":"Average Joe Finances","startTime":1485.363,"endTime":1488.723,"body":"over a hundred million in assets,"},{"speaker":"Average Joe Finances","startTime":1488.723,"endTime":1489.523,"body":"under management, what was it?"},{"speaker":"Average Joe Finances","startTime":1489.533,"endTime":1490.013,"body":"One 12."},{"speaker":"Average Joe Finances","startTime":1490.013,"endTime":1493.853,"body":"You said you're going to cross"},{"speaker":"Average Joe Finances","startTime":1490.013,"endTime":1493.853,"body":"over into a phenomenal man now."},{"speaker":"Average Joe Finances","startTime":1494.153,"endTime":1498.403,"body":"Going through everything that you started"},{"speaker":"Average Joe Finances","startTime":1494.153,"endTime":1498.403,"body":"very young, like you got that purple Bible"},{"speaker":"Average Joe Finances","startTime":1498.403,"endTime":1500.689,"body":"at the age of 16 blasted through that."},{"speaker":"Average Joe Finances","startTime":1500.839,"endTime":1504.338,"body":"But still there's always something,"},{"speaker":"Average Joe Finances","startTime":1500.839,"endTime":1504.338,"body":"that we feel like we could have"},{"speaker":"Average Joe Finances","startTime":1504.338,"endTime":1507.14,"body":"done differently or just gone"},{"speaker":"Average Joe Finances","startTime":1504.338,"endTime":1507.14,"body":"a different direction with."},{"speaker":"Average Joe Finances","startTime":1507.336,"endTime":1511.626,"body":"So what is something over the time period"},{"speaker":"Average Joe Finances","startTime":1507.336,"endTime":1511.626,"body":"from the time that you read that book to"},{"speaker":"Average Joe Finances","startTime":1511.626,"endTime":1516.696,"body":"where you're at today, what is something"},{"speaker":"Average Joe Finances","startTime":1511.626,"endTime":1516.696,"body":"that you learned since then that you"},{"speaker":"Average Joe Finances","startTime":1516.696,"endTime":1519.146,"body":"wish you knew when you first started."},{"speaker":"Fernando Angelucci","startTime":1519.313,"endTime":1519.793,"body":"Yeah."},{"speaker":"Fernando Angelucci","startTime":1519.883,"endTime":1523.003,"body":"And I actually have two answers"},{"speaker":"Fernando Angelucci","startTime":1519.883,"endTime":1523.003,"body":"to this question if you'll"},{"speaker":"Fernando Angelucci","startTime":1523.003,"endTime":1524.113,"body":"allow me to cheat a little bit."},{"speaker":"Fernando Angelucci","startTime":1524.143,"endTime":1527.563,"body":"So the first is I needed to"},{"speaker":"Fernando Angelucci","startTime":1524.143,"endTime":1527.563,"body":"start trusting other people."},{"speaker":"Fernando Angelucci","startTime":1527.863,"endTime":1528.623,"body":"Much sooner."},{"speaker":"Fernando Angelucci","startTime":1528.623,"endTime":1532.093,"body":"And what I mean by that is in the"},{"speaker":"Fernando Angelucci","startTime":1528.623,"endTime":1532.093,"body":"beginning, I was hesitant to hire"},{"speaker":"Fernando Angelucci","startTime":1532.093,"endTime":1535.273,"body":"employees and I just do everything"},{"speaker":"Fernando Angelucci","startTime":1532.093,"endTime":1535.273,"body":"on my own because I thought"},{"speaker":"Fernando Angelucci","startTime":1535.573,"endTime":1537.463,"body":"all employees, that is a cost."},{"speaker":"Fernando Angelucci","startTime":1537.583,"endTime":1542.853,"body":"And I wish my mindset would have shifted"},{"speaker":"Fernando Angelucci","startTime":1537.583,"endTime":1542.853,"body":"earlier and realizing that employees are"},{"speaker":"Fernando Angelucci","startTime":1542.853,"endTime":1544.953,"body":"investments, they make a return for you."},{"speaker":"Fernando Angelucci","startTime":1544.953,"endTime":1546.033,"body":"They're not a cost."},{"speaker":"Fernando Angelucci","startTime":1546.333,"endTime":1549.153,"body":"So bringing people onto"},{"speaker":"Fernando Angelucci","startTime":1546.333,"endTime":1549.153,"body":"the company sooner to."},{"speaker":"Fernando Angelucci","startTime":1549.453,"endTime":1551.523,"body":"My company has scale that's number one."},{"speaker":"Fernando Angelucci","startTime":1551.583,"endTime":1553.713,"body":"The second piece is I wish"},{"speaker":"Fernando Angelucci","startTime":1551.583,"endTime":1553.713,"body":"I would have started raising"},{"speaker":"Fernando Angelucci","startTime":1553.713,"endTime":1555.123,"body":"capital from investors sooner."},{"speaker":"Fernando Angelucci","startTime":1555.423,"endTime":1558.873,"body":"I really started only raising"},{"speaker":"Fernando Angelucci","startTime":1555.423,"endTime":1558.873,"body":"capital in earnest from investors"},{"speaker":"Fernando Angelucci","startTime":1558.873,"endTime":1560.763,"body":"in the last, maybe two, three years."},{"speaker":"Fernando Angelucci","startTime":1561.063,"endTime":1564.723,"body":"And if I was able to start when I was"},{"speaker":"Fernando Angelucci","startTime":1561.063,"endTime":1564.723,"body":"say 22, as opposed to when I was 27 or"},{"speaker":"Fernando Angelucci","startTime":1564.723,"endTime":1569.733,"body":"28, who knows I'd maybe be at half a"},{"speaker":"Fernando Angelucci","startTime":1564.723,"endTime":1569.733,"body":"billion today, but I'm one of those people"},{"speaker":"Fernando Angelucci","startTime":1569.733,"endTime":1571.533,"body":"where I don't really believe in regrets."},{"speaker":"Fernando Angelucci","startTime":1571.833,"endTime":1575.853,"body":"I am the person I am today because of"},{"speaker":"Fernando Angelucci","startTime":1571.833,"endTime":1575.853,"body":"the things, the actions and decisions"},{"speaker":"Fernando Angelucci","startTime":1575.853,"endTime":1577.263,"body":"I made leading up to this point."},{"speaker":"Fernando Angelucci","startTime":1577.563,"endTime":1579.813,"body":"And I'm very happy with who"},{"speaker":"Fernando Angelucci","startTime":1577.563,"endTime":1579.813,"body":"I am and where I am in life."},{"speaker":"Fernando Angelucci","startTime":1579.813,"endTime":1583.143,"body":"So no, no rigerts as my friend would say."},{"speaker":"Average Joe Finances","startTime":1583.293,"endTime":1584.866,"body":"I"},{"speaker":"Average Joe Finances","startTime":1583.293,"endTime":1584.866,"body":"was gonna go there, man."},{"speaker":"Average Joe Finances","startTime":1584.866,"endTime":1587.675,"body":"I was going to say, not even"},{"speaker":"Average Joe Finances","startTime":1584.866,"endTime":1587.675,"body":"a single letter, a great movie"},{"speaker":"Average Joe Finances","startTime":1587.675,"endTime":1589.249,"body":"reference for,  we are the Miller's."},{"speaker":"Average Joe Finances","startTime":1589.352,"endTime":1589.862,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1589.922,"endTime":1590.252,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1590.252,"endTime":1590.642,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1590.674,"endTime":1591.506,"body":"You got to it before?"},{"speaker":"Average Joe Finances","startTime":1591.506,"endTime":1592.496,"body":"I did, so it's okay."},{"speaker":"Average Joe Finances","startTime":1592.556,"endTime":1592.956,"body":"It's okay."},{"speaker":"Average Joe Finances","startTime":1593.106,"endTime":1593.406,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1593.626,"endTime":1596.991,"body":"So something to take away from that,"},{"speaker":"Average Joe Finances","startTime":1593.626,"endTime":1596.991,"body":"you were hesitant to hire employees, so"},{"speaker":"Average Joe Finances","startTime":1597.169,"endTime":1599.089,"body":"you were hesitant to outsource, right?"},{"speaker":"Average Joe Finances","startTime":1599.389,"endTime":1603.033,"body":"And I know a lot of people that do this,"},{"speaker":"Average Joe Finances","startTime":1599.389,"endTime":1603.033,"body":"I was the same way with my business,"},{"speaker":"Average Joe Finances","startTime":1603.033,"endTime":1604.663,"body":"with building my podcast as well."},{"speaker":"Average Joe Finances","startTime":1604.696,"endTime":1609.0,"body":"I was hesitant to,  outsource"},{"speaker":"Average Joe Finances","startTime":1604.696,"endTime":1609.0,"body":"any of the editing or using"},{"speaker":"Average Joe Finances","startTime":1609.0,"endTime":1610.42,"body":"virtual assistants for anything."},{"speaker":"Average Joe Finances","startTime":1610.57,"endTime":1613.842,"body":"And,  so like for the first six months"},{"speaker":"Average Joe Finances","startTime":1610.57,"endTime":1613.842,"body":"of running this podcast I was doing"},{"speaker":"Average Joe Finances","startTime":1613.862,"endTime":1617.245,"body":"everything myself and it was killing me,"},{"speaker":"Average Joe Finances","startTime":1613.862,"endTime":1617.245,"body":"so I'm still active duty in the Navy."},{"speaker":"Average Joe Finances","startTime":1617.413,"endTime":1619.633,"body":"I'm working, full-time"},{"speaker":"Average Joe Finances","startTime":1617.413,"endTime":1619.633,"body":"doing my nine to five still."},{"speaker":"Average Joe Finances","startTime":1619.933,"endTime":1623.323,"body":"And as I'm doing the podcast, I'd"},{"speaker":"Average Joe Finances","startTime":1619.933,"endTime":1623.323,"body":"come home from work and I'd just"},{"speaker":"Average Joe Finances","startTime":1623.353,"endTime":1624.856,"body":"edit for two hours every night."},{"speaker":"Average Joe Finances","startTime":1624.886,"endTime":1626.91,"body":"Just for my next episode"},{"speaker":"Average Joe Finances","startTime":1624.886,"endTime":1626.91,"body":"that's coming out."},{"speaker":"Average Joe Finances","startTime":1627.06,"endTime":1627.96,"body":"It was awful, man."},{"speaker":"Average Joe Finances","startTime":1628.26,"endTime":1631.07,"body":"And finally six months into"},{"speaker":"Average Joe Finances","startTime":1628.26,"endTime":1631.07,"body":"it, I hired an editing team"},{"speaker":"Average Joe Finances","startTime":1631.1,"endTime":1632.51,"body":"and they've just been awesome."},{"speaker":"Average Joe Finances","startTime":1632.51,"endTime":1634.22,"body":"So I just, I recorded the content."},{"speaker":"Average Joe Finances","startTime":1634.22,"endTime":1636.29,"body":"I sent it to them and I don't"},{"speaker":"Average Joe Finances","startTime":1634.22,"endTime":1636.29,"body":"have to worry about it anymore."},{"speaker":"Average Joe Finances","startTime":1636.369,"endTime":1640.966,"body":"So there's that then two I was like,"},{"speaker":"Average Joe Finances","startTime":1636.369,"endTime":1640.966,"body":"Hey, I need to figure out a way to get my"},{"speaker":"Average Joe Finances","startTime":1640.966,"endTime":1644.646,"body":"podcasts out there to more people and get"},{"speaker":"Average Joe Finances","startTime":1640.966,"endTime":1644.646,"body":"it marketed and get more people listening."},{"speaker":"Average Joe Finances","startTime":1644.883,"endTime":1646.563,"body":"And I was like, there's gotta"},{"speaker":"Average Joe Finances","startTime":1644.883,"endTime":1646.563,"body":"be another way to do it."},{"speaker":"Average Joe Finances","startTime":1646.833,"endTime":1650.493,"body":"So I hired a virtual assistant that"},{"speaker":"Average Joe Finances","startTime":1646.833,"endTime":1650.493,"body":"actually goes and posts my podcast"},{"speaker":"Average Joe Finances","startTime":1650.493,"endTime":1654.153,"body":"for me on Reddit, different social"},{"speaker":"Average Joe Finances","startTime":1650.493,"endTime":1654.153,"body":"media groups, and just goes and"},{"speaker":"Average Joe Finances","startTime":1654.153,"endTime":1655.353,"body":"throws all my stuff out there for me."},{"speaker":"Average Joe Finances","startTime":1655.353,"endTime":1656.283,"body":"And I don't have to worry about it."},{"speaker":"Average Joe Finances","startTime":1656.583,"endTime":1661.533,"body":"And all I do is after the editing team"},{"speaker":"Average Joe Finances","startTime":1656.583,"endTime":1661.533,"body":"sends me back my files, I upload it to the"},{"speaker":"Average Joe Finances","startTime":1661.533,"endTime":1663.213,"body":"Google drive for the virtual assistant."},{"speaker":"Average Joe Finances","startTime":1663.213,"endTime":1666.407,"body":"Now she has all the files and she"},{"speaker":"Average Joe Finances","startTime":1663.213,"endTime":1666.407,"body":"goes, and does her thing and she even"},{"speaker":"Average Joe Finances","startTime":1666.407,"endTime":1667.757,"body":"made a TikTok channel for me too."},{"speaker":"Average Joe Finances","startTime":1668.057,"endTime":1670.757,"body":"So a separate from my own TikTok channel."},{"speaker":"Average Joe Finances","startTime":1670.757,"endTime":1671.627,"body":"So I was like, Hey, that's cool."},{"speaker":"Average Joe Finances","startTime":1671.857,"endTime":1673.657,"body":"And it's a, it's working"},{"speaker":"Average Joe Finances","startTime":1671.857,"endTime":1673.657,"body":"out pretty good so far."},{"speaker":"Fernando Angelucci","startTime":1673.657,"endTime":1676.157,"body":"Think there's"},{"speaker":"Fernando Angelucci","startTime":1673.657,"endTime":1676.157,"body":"two super important points there."},{"speaker":"Fernando Angelucci","startTime":1676.177,"endTime":1678.727,"body":"So the first is energy management."},{"speaker":"Fernando Angelucci","startTime":1679.027,"endTime":1681.391,"body":"So everyone talks about"},{"speaker":"Fernando Angelucci","startTime":1679.027,"endTime":1681.391,"body":"time management is BS."},{"speaker":"Fernando Angelucci","startTime":1681.562,"endTime":1683.002,"body":"It's all about energy management."},{"speaker":"Fernando Angelucci","startTime":1683.302,"endTime":1686.952,"body":"So as an entrepreneur, there are things"},{"speaker":"Fernando Angelucci","startTime":1683.302,"endTime":1686.952,"body":"that drain our battery and there's"},{"speaker":"Fernando Angelucci","startTime":1687.052,"endTime":1689.662,"body":"things that recharge our battery and"},{"speaker":"Fernando Angelucci","startTime":1687.052,"endTime":1689.662,"body":"the things that drain our battery"},{"speaker":"Fernando Angelucci","startTime":1689.692,"endTime":1693.472,"body":"not only do they take us two or"},{"speaker":"Fernando Angelucci","startTime":1689.692,"endTime":1693.472,"body":"three or four times longer to do than"},{"speaker":"Fernando Angelucci","startTime":1693.472,"endTime":1694.942,"body":"somebody else that likes to do that."},{"speaker":"Fernando Angelucci","startTime":1695.242,"endTime":1697.492,"body":"But they also, which is my second point."},{"speaker":"Fernando Angelucci","startTime":1697.492,"endTime":1700.192,"body":"They also have a very low the time value."},{"speaker":"Fernando Angelucci","startTime":1700.432,"endTime":1704.242,"body":"So for example, if I were to go back"},{"speaker":"Fernando Angelucci","startTime":1700.432,"endTime":1704.242,"body":"through my last 24 months and see what"},{"speaker":"Fernando Angelucci","startTime":1704.242,"endTime":1709.312,"body":"my average hourly rate is, if I can"},{"speaker":"Fernando Angelucci","startTime":1704.242,"endTime":1709.312,"body":"hire somebody out to do something less"},{"speaker":"Fernando Angelucci","startTime":1709.312,"endTime":1715.162,"body":"than what my hourly rate is based on my"},{"speaker":"Fernando Angelucci","startTime":1709.312,"endTime":1715.162,"body":"current income, I am, I'm dumb not to do"},{"speaker":"Fernando Angelucci","startTime":1715.162,"endTime":1717.862,"body":"that because now I can arbitrage skill."},{"speaker":"Fernando Angelucci","startTime":1717.862,"endTime":1719.992,"body":"And usually that arbitrage is very large."},{"speaker":"Fernando Angelucci","startTime":1719.992,"endTime":1721.122,"body":"It's not only a couple of dollars."},{"speaker":"Fernando Angelucci","startTime":1721.422,"endTime":1726.823,"body":"$200 an hour arbitrage someone in, we"},{"speaker":"Fernando Angelucci","startTime":1721.422,"endTime":1726.823,"body":"have a lot of virtual staff as well"},{"speaker":"Fernando Angelucci","startTime":1726.823,"endTime":1730.003,"body":"from the Philippines and they're great"},{"speaker":"Fernando Angelucci","startTime":1726.823,"endTime":1730.003,"body":"people, some something that someone"},{"speaker":"Fernando Angelucci","startTime":1730.003,"endTime":1733.513,"body":"in the Philippines can do for eight"},{"speaker":"Fernando Angelucci","startTime":1730.003,"endTime":1733.513,"body":"bucks an hour, as opposed to me trying"},{"speaker":"Fernando Angelucci","startTime":1733.513,"endTime":1737.566,"body":"to do at, a multi hundred dollar per"},{"speaker":"Fernando Angelucci","startTime":1733.513,"endTime":1737.566,"body":"hour earnings doesn't make sense."},{"speaker":"Average Joe Finances","startTime":1737.996,"endTime":1739.136,"body":"That is a key point."},{"speaker":"Average Joe Finances","startTime":1739.136,"endTime":1741.052,"body":"And  where my head was at with it as well."},{"speaker":"Average Joe Finances","startTime":1741.232,"endTime":1744.4,"body":"Now I like what you said though, about"},{"speaker":"Average Joe Finances","startTime":1741.232,"endTime":1744.4,"body":"the whole time management thing is BS"},{"speaker":"Average Joe Finances","startTime":1744.4,"endTime":1745.908,"body":"and it's, the, what did you call it?"},{"speaker":"Average Joe Finances","startTime":1745.908,"endTime":1747.029,"body":"The, energy management."},{"speaker":"Average Joe Finances","startTime":1747.029,"endTime":1750.737,"body":"Yeah, man, because when you talk"},{"speaker":"Average Joe Finances","startTime":1747.029,"endTime":1750.737,"body":"about the, just your batteries and"},{"speaker":"Average Joe Finances","startTime":1750.737,"endTime":1754.193,"body":"a drain in the back, cause I, I"},{"speaker":"Average Joe Finances","startTime":1750.737,"endTime":1754.193,"body":"love putting stuff in metaphors."},{"speaker":"Average Joe Finances","startTime":1754.36,"endTime":1757.49,"body":"And as you're talking about draining"},{"speaker":"Average Joe Finances","startTime":1754.36,"endTime":1757.49,"body":"batteries, that's the, I was thinking back"},{"speaker":"Average Joe Finances","startTime":1757.49,"endTime":1761.0,"body":"to like, when I was doing all that stuff,"},{"speaker":"Average Joe Finances","startTime":1757.49,"endTime":1761.0,"body":"myself and man, I really was drained."},{"speaker":"Average Joe Finances","startTime":1761.24,"endTime":1765.95,"body":"It wasn't so much the time it"},{"speaker":"Average Joe Finances","startTime":1761.24,"endTime":1765.95,"body":"was how I felt when I was done."},{"speaker":"Average Joe Finances","startTime":1765.95,"endTime":1768.23,"body":"I was just like, Ugh, I'm"},{"speaker":"Average Joe Finances","startTime":1765.95,"endTime":1768.23,"body":"emotionally exhausted."},{"speaker":"Average Joe Finances","startTime":1768.53,"endTime":1771.5,"body":"I just want to go to bed, hit the reset"},{"speaker":"Average Joe Finances","startTime":1768.53,"endTime":1771.5,"body":"button and do it all over again tomorrow."},{"speaker":"Average Joe Finances","startTime":1771.8,"endTime":1774.83,"body":"And yeah, man, that's that"},{"speaker":"Average Joe Finances","startTime":1771.8,"endTime":1774.83,"body":"is draining emotionally,"},{"speaker":"Average Joe Finances","startTime":1774.83,"endTime":1776.87,"body":"physically, and of course time."},{"speaker":"Average Joe Finances","startTime":1777.09,"endTime":1778.178,"body":"Yeah,  that's a, that's huge."},{"speaker":"Average Joe Finances","startTime":1778.178,"endTime":1778.808,"body":"I love that."},{"speaker":"Average Joe Finances","startTime":1778.808,"endTime":1779.928,"body":"So thank you for sharing that."},{"speaker":"Fernando Angelucci","startTime":1780.078,"endTime":1782.51,"body":"Can I give you"},{"speaker":"Fernando Angelucci","startTime":1780.078,"endTime":1782.51,"body":"a quick, how I implemented that?"},{"speaker":"Fernando Angelucci","startTime":1782.54,"endTime":1783.66,"body":"I had a very good friend."},{"speaker":"Fernando Angelucci","startTime":1783.81,"endTime":1784.68,"body":"I have a very good friend."},{"speaker":"Fernando Angelucci","startTime":1784.68,"endTime":1786.21,"body":"He's an EOS implementer."},{"speaker":"Fernando Angelucci","startTime":1786.359,"endTime":1789.787,"body":"His name is Gary Harper and he"},{"speaker":"Fernando Angelucci","startTime":1786.359,"endTime":1789.787,"body":"came in to implement traction"},{"speaker":"Fernando Angelucci","startTime":1789.787,"endTime":1790.957,"body":"basically into our business."},{"speaker":"Fernando Angelucci","startTime":1790.957,"endTime":1793.717,"body":"And he gave me this very"},{"speaker":"Fernando Angelucci","startTime":1790.957,"endTime":1793.717,"body":"simple page print out."},{"speaker":"Fernando Angelucci","startTime":1793.717,"endTime":1798.361,"body":"I had four columns and I had put"},{"speaker":"Fernando Angelucci","startTime":1793.717,"endTime":1798.361,"body":"down every task I did in during the"},{"speaker":"Fernando Angelucci","startTime":1798.361,"endTime":1801.811,"body":"day into each of these four columns"},{"speaker":"Fernando Angelucci","startTime":1798.361,"endTime":1801.811,"body":"and start eliminating them from left"},{"speaker":"Fernando Angelucci","startTime":1801.811,"endTime":1805.35,"body":"to,  so the column all the way on"},{"speaker":"Fernando Angelucci","startTime":1801.811,"endTime":1805.35,"body":"the left is things that I'm not good"},{"speaker":"Fernando Angelucci","startTime":1805.35,"endTime":1807.39,"body":"at and things I don't like to do."},{"speaker":"Fernando Angelucci","startTime":1807.45,"endTime":1809.64,"body":"So that combination, so that's"},{"speaker":"Fernando Angelucci","startTime":1807.45,"endTime":1809.64,"body":"the very first thing that you"},{"speaker":"Fernando Angelucci","startTime":1809.64,"endTime":1810.99,"body":"should delegate or eliminate."},{"speaker":"Fernando Angelucci","startTime":1811.181,"endTime":1814.601,"body":"The next column over is"},{"speaker":"Fernando Angelucci","startTime":1811.181,"endTime":1814.601,"body":"things that I am bad."},{"speaker":"Fernando Angelucci","startTime":1814.601,"endTime":1817.421,"body":"I'm sorry, things that I'm good"},{"speaker":"Fernando Angelucci","startTime":1814.601,"endTime":1817.421,"body":"at, but I don't like to do so"},{"speaker":"Fernando Angelucci","startTime":1817.421,"endTime":1820.451,"body":"that's the next set of comms that"},{"speaker":"Fernando Angelucci","startTime":1817.421,"endTime":1820.451,"body":"you need to eliminate or delegate."},{"speaker":"Fernando Angelucci","startTime":1820.751,"endTime":1823.211,"body":"Then once you finish up with that"},{"speaker":"Fernando Angelucci","startTime":1820.751,"endTime":1823.211,"body":"column, you go to the next column,"},{"speaker":"Fernando Angelucci","startTime":1823.241,"endTime":1824.831,"body":"which is things that I'm good at."},{"speaker":"Fernando Angelucci","startTime":1825.131,"endTime":1828.701,"body":"I'm sorry, things that I'm bad"},{"speaker":"Fernando Angelucci","startTime":1825.131,"endTime":1828.701,"body":"at, but I love to do right."},{"speaker":"Fernando Angelucci","startTime":1829.001,"endTime":1831.941,"body":"These are the things that they give"},{"speaker":"Fernando Angelucci","startTime":1829.001,"endTime":1831.941,"body":"you energy, but you're just so slow"},{"speaker":"Fernando Angelucci","startTime":1831.941,"endTime":1833.201,"body":"at it that it's probably better."},{"speaker":"Fernando Angelucci","startTime":1833.501,"endTime":1834.581,"body":"To give it to somebody else."},{"speaker":"Fernando Angelucci","startTime":1834.611,"endTime":1836.711,"body":"Here's a non-business example."},{"speaker":"Fernando Angelucci","startTime":1837.011,"endTime":1840.221,"body":"I'm playing, I'm not very good at"},{"speaker":"Fernando Angelucci","startTime":1837.011,"endTime":1840.221,"body":"playing guitar, but I enjoyed doing it."},{"speaker":"Fernando Angelucci","startTime":1840.441,"endTime":1843.441,"body":"But I'll go pay to go see"},{"speaker":"Fernando Angelucci","startTime":1840.441,"endTime":1843.441,"body":"a guitarist in concert."},{"speaker":"Fernando Angelucci","startTime":1843.591,"endTime":1846.553,"body":"And then the last piece is where"},{"speaker":"Fernando Angelucci","startTime":1843.591,"endTime":1846.553,"body":"you want to spend all your time"},{"speaker":"Fernando Angelucci","startTime":1846.553,"endTime":1849.193,"body":"and that's things that you're"},{"speaker":"Fernando Angelucci","startTime":1846.553,"endTime":1849.193,"body":"good at and things you like to do."},{"speaker":"Fernando Angelucci","startTime":1849.313,"endTime":1851.653,"body":"So that combination that's"},{"speaker":"Fernando Angelucci","startTime":1849.313,"endTime":1851.653,"body":"where you should be spending"},{"speaker":"Fernando Angelucci","startTime":1851.653,"endTime":1853.853,"body":"most of your time of the day."},{"speaker":"Fernando Angelucci","startTime":1853.853,"endTime":1856.103,"body":"And the rest should either"},{"speaker":"Fernando Angelucci","startTime":1853.853,"endTime":1856.103,"body":"be first eliminated."},{"speaker":"Fernando Angelucci","startTime":1856.133,"endTime":1858.443,"body":"If it can't be eliminated,"},{"speaker":"Fernando Angelucci","startTime":1856.133,"endTime":1858.443,"body":"it needs to be deligated."},{"speaker":"Average Joe Finances","startTime":1858.666,"endTime":1859.386,"body":"Yeah, I love that."},{"speaker":"Average Joe Finances","startTime":1859.386,"endTime":1859.836,"body":"I love that."},{"speaker":"Average Joe Finances","startTime":1860.106,"endTime":1863.251,"body":"And you mentioned traction, so I, that's"},{"speaker":"Average Joe Finances","startTime":1860.106,"endTime":1863.251,"body":"still a book that's on my list that I"},{"speaker":"Average Joe Finances","startTime":1863.251,"endTime":1865.455,"body":"have to go read, so absolutely ready yet."},{"speaker":"Average Joe Finances","startTime":1865.695,"endTime":1866.565,"body":"No, I haven't."},{"speaker":"Average Joe Finances","startTime":1866.595,"endTime":1867.465,"body":"I haven't man."},{"speaker":"Average Joe Finances","startTime":1867.465,"endTime":1869.836,"body":"It's actually, it is"},{"speaker":"Average Joe Finances","startTime":1867.465,"endTime":1869.836,"body":"at the top of my list."},{"speaker":"Average Joe Finances","startTime":1869.836,"endTime":1873.524,"body":"It is the very next book I read is"},{"speaker":"Average Joe Finances","startTime":1869.836,"endTime":1873.524,"body":"once a year there was,  there was"},{"speaker":"Average Joe Finances","startTime":1873.524,"endTime":1877.248,"body":"somebody who I interviewed last"},{"speaker":"Average Joe Finances","startTime":1873.524,"endTime":1877.248,"body":"week who had brought that book up."},{"speaker":"Average Joe Finances","startTime":1877.278,"endTime":1878.828,"body":"And I was like, man, I keep"},{"speaker":"Average Joe Finances","startTime":1877.278,"endTime":1878.828,"body":"hearing about traction."},{"speaker":"Average Joe Finances","startTime":1878.838,"endTime":1879.538,"body":"I got to read traction."},{"speaker":"Average Joe Finances","startTime":1879.558,"endTime":1880.368,"body":"I got to read traction."},{"speaker":"Average Joe Finances","startTime":1880.668,"endTime":1881.608,"body":"And yeah."},{"speaker":"Average Joe Finances","startTime":1881.698,"endTime":1883.319,"body":"And then you just"},{"speaker":"Average Joe Finances","startTime":1881.698,"endTime":1883.319,"body":"confirmed it for me, man."},{"speaker":"Average Joe Finances","startTime":1883.319,"endTime":1885.489,"body":"Like I'm going to start"},{"speaker":"Average Joe Finances","startTime":1883.319,"endTime":1885.489,"body":"reading it today for sure."},{"speaker":"Average Joe Finances","startTime":1885.789,"endTime":1886.149,"body":"So"},{"speaker":"Fernando Angelucci","startTime":1886.179,"endTime":1886.922,"body":"I read it once again."},{"speaker":"Fernando Angelucci","startTime":1887.072,"endTime":1890.582,"body":"I have probably given away over a"},{"speaker":"Fernando Angelucci","startTime":1887.072,"endTime":1890.582,"body":"hundred copies of traction to people that"},{"speaker":"Fernando Angelucci","startTime":1890.612,"endTime":1893.852,"body":"ask advice on how to start businesses"},{"speaker":"Fernando Angelucci","startTime":1890.612,"endTime":1893.852,"body":"or start real estate businesses."},{"speaker":"Fernando Angelucci","startTime":1894.152,"endTime":1897.392,"body":"So that the two books I always recommend"},{"speaker":"Fernando Angelucci","startTime":1894.152,"endTime":1897.392,"body":"to people starting a business is number"},{"speaker":"Fernando Angelucci","startTime":1897.392,"endTime":1899.282,"body":"one, traction, read it multiple times."},{"speaker":"Fernando Angelucci","startTime":1899.342,"endTime":1902.692,"body":"And then number two is profit"},{"speaker":"Fernando Angelucci","startTime":1899.342,"endTime":1902.692,"body":"first by Mike Michalowitz."},{"speaker":"Average Joe Finances","startTime":1902.708,"endTime":1904.065,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":1902.708,"endTime":1904.065,"body":"traction has got to happen."},{"speaker":"Average Joe Finances","startTime":1904.131,"endTime":1905.171,"body":"I, I don't want to have any regerts."},{"speaker":"Average Joe Finances","startTime":1905.341,"endTime":1907.111,"body":"So you've got to get out of that."},{"speaker":"Average Joe Finances","startTime":1907.411,"endTime":1907.681,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1907.681,"endTime":1908.101,"body":"Cool, man."},{"speaker":"Average Joe Finances","startTime":1908.401,"endTime":1912.451,"body":"That is probably the longest back and"},{"speaker":"Average Joe Finances","startTime":1908.401,"endTime":1912.451,"body":"forth I've had on that question so far,"},{"speaker":"Average Joe Finances","startTime":1912.561,"endTime":1914.279,"body":"but it was awesome and so much value."},{"speaker":"Average Joe Finances","startTime":1914.496,"endTime":1914.826,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1915.006,"endTime":1916.656,"body":"Now, going on to the next thing."},{"speaker":"Average Joe Finances","startTime":1916.656,"endTime":1920.815,"body":"So we talked about, what it is that you"},{"speaker":"Average Joe Finances","startTime":1916.656,"endTime":1920.815,"body":"wish you knew when you first started"},{"speaker":"Average Joe Finances","startTime":1921.115,"endTime":1925.285,"body":"now, what about, what would you say was"},{"speaker":"Average Joe Finances","startTime":1921.115,"endTime":1925.285,"body":"the biggest mistake you've ever made?"},{"speaker":"Fernando Angelucci","startTime":1925.435,"endTime":1926.475,"body":"Yeah,  this one's easy."},{"speaker":"Fernando Angelucci","startTime":1926.695,"endTime":1929.565,"body":"Half-assing in too many things"},{"speaker":"Fernando Angelucci","startTime":1926.695,"endTime":1929.565,"body":"instead of full -assing one."},{"speaker":"Fernando Angelucci","startTime":1929.865,"endTime":1935.565,"body":"So at the peak of my serial entrepreneur"},{"speaker":"Fernando Angelucci","startTime":1929.865,"endTime":1935.565,"body":"ism, if you will, I had five different"},{"speaker":"Fernando Angelucci","startTime":1935.565,"endTime":1936.975,"body":"companies operating at the same time."},{"speaker":"Fernando Angelucci","startTime":1937.005,"endTime":1938.985,"body":"I had a wholesale company, I"},{"speaker":"Fernando Angelucci","startTime":1937.005,"endTime":1938.985,"body":"had a fix and flip company."},{"speaker":"Fernando Angelucci","startTime":1938.985,"endTime":1940.155,"body":"I had a buy and hold company."},{"speaker":"Fernando Angelucci","startTime":1940.335,"endTime":1943.255,"body":"I had an Airbnb company and"},{"speaker":"Fernando Angelucci","startTime":1940.335,"endTime":1943.255,"body":"then I had a hard money company."},{"speaker":"Fernando Angelucci","startTime":1943.275,"endTime":1946.372,"body":"And then I started storage and one"},{"speaker":"Fernando Angelucci","startTime":1943.275,"endTime":1946.372,"body":"of my friends called me out on it."},{"speaker":"Fernando Angelucci","startTime":1946.372,"endTime":1948.652,"body":"He said, Hey man, you're making"},{"speaker":"Fernando Angelucci","startTime":1946.372,"endTime":1948.652,"body":"really good money in storage."},{"speaker":"Fernando Angelucci","startTime":1948.652,"endTime":1952.803,"body":"And I could see the potential for this"},{"speaker":"Fernando Angelucci","startTime":1948.652,"endTime":1952.803,"body":"thing to blow up into a huge business."},{"speaker":"Fernando Angelucci","startTime":1952.953,"endTime":1955.293,"body":"Why are you wasting your time"},{"speaker":"Fernando Angelucci","startTime":1952.953,"endTime":1955.293,"body":"on all these other businesses?"},{"speaker":"Fernando Angelucci","startTime":1955.323,"endTime":1956.823,"body":"And I fought him for."},{"speaker":"Fernando Angelucci","startTime":1957.123,"endTime":1958.233,"body":"Like a year and a half."},{"speaker":"Fernando Angelucci","startTime":1958.503,"endTime":1961.771,"body":"And then one, once I finally"},{"speaker":"Fernando Angelucci","startTime":1958.503,"endTime":1961.771,"body":"shut down all, all those other"},{"speaker":"Fernando Angelucci","startTime":1961.771,"endTime":1962.821,"body":"companies were still making money."},{"speaker":"Fernando Angelucci","startTime":1962.821,"endTime":1966.511,"body":"So it's hard to say no to money"},{"speaker":"Fernando Angelucci","startTime":1962.821,"endTime":1966.511,"body":"coming in the door, but they came"},{"speaker":"Fernando Angelucci","startTime":1966.511,"endTime":1967.817,"body":"back to that energy management."},{"speaker":"Fernando Angelucci","startTime":1967.967,"endTime":1969.731,"body":"How many,  how am I spending my time?"},{"speaker":"Fernando Angelucci","startTime":1969.731,"endTime":1970.841,"body":"What is getting me excited?"},{"speaker":"Fernando Angelucci","startTime":1970.961,"endTime":1973.961,"body":"And so finally, when I finally"},{"speaker":"Fernando Angelucci","startTime":1970.961,"endTime":1973.961,"body":"listened to Gary and shut down my"},{"speaker":"Fernando Angelucci","startTime":1973.961,"endTime":1977.651,"body":"other four or five companies, then"},{"speaker":"Fernando Angelucci","startTime":1973.961,"endTime":1977.651,"body":"the storage company went like this."},{"speaker":"Fernando Angelucci","startTime":1977.74,"endTime":1978.56,"body":"It blew up."},{"speaker":"Average Joe Finances","startTime":1978.581,"endTime":1979.435,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":1979.465,"endTime":1983.201,"body":"And the, I guess the key thing to"},{"speaker":"Average Joe Finances","startTime":1979.465,"endTime":1983.201,"body":"take away here is that you really"},{"speaker":"Average Joe Finances","startTime":1983.201,"endTime":1987.861,"body":"learned from that mistake and you took"},{"speaker":"Average Joe Finances","startTime":1983.201,"endTime":1987.861,"body":"action and you were able to skyrocket"},{"speaker":"Average Joe Finances","startTime":1987.861,"endTime":1989.514,"body":"your business, which is fantastic."},{"speaker":"Average Joe Finances","startTime":1989.814,"endTime":1990.214,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1990.257,"endTime":1991.897,"body":"Moving forward from there."},{"speaker":"Average Joe Finances","startTime":1992.121,"endTime":1996.051,"body":"Do you have any tips or tricks"},{"speaker":"Average Joe Finances","startTime":1992.121,"endTime":1996.051,"body":"that you would recommend to someone"},{"speaker":"Average Joe Finances","startTime":1996.231,"endTime":1997.521,"body":"who is just getting started?"},{"speaker":"Average Joe Finances","startTime":1997.521,"endTime":2000.298,"body":"Let's say somebody like listen to"},{"speaker":"Average Joe Finances","startTime":1997.521,"endTime":2000.298,"body":"the show and they're like, man,"},{"speaker":"Average Joe Finances","startTime":2000.598,"endTime":2002.038,"body":"I want to get into self storage."},{"speaker":"Average Joe Finances","startTime":2002.068,"endTime":2004.138,"body":"This is, this interview was awesome."},{"speaker":"Average Joe Finances","startTime":2004.438,"endTime":2005.848,"body":"And tell me more."},{"speaker":"Average Joe Finances","startTime":2005.848,"endTime":2008.304,"body":"What would you say to somebody"},{"speaker":"Average Joe Finances","startTime":2005.848,"endTime":2008.304,"body":"who's just getting started today?"},{"speaker":"Fernando Angelucci","startTime":2008.48,"endTime":2008.93,"body":"Yeah."},{"speaker":"Fernando Angelucci","startTime":2009.05,"endTime":2012.37,"body":"So if you want to fast track into"},{"speaker":"Fernando Angelucci","startTime":2009.05,"endTime":2012.37,"body":"the storage business, you need"},{"speaker":"Fernando Angelucci","startTime":2012.37,"endTime":2014.357,"body":"to get into the storage business."},{"speaker":"Fernando Angelucci","startTime":2014.537,"endTime":2018.737,"body":"I see so many people that get hit with"},{"speaker":"Fernando Angelucci","startTime":2014.537,"endTime":2018.737,"body":"analysis paralysis, and they're always"},{"speaker":"Fernando Angelucci","startTime":2018.737,"endTime":2024.437,"body":"just getting ready to get ready to"},{"speaker":"Fernando Angelucci","startTime":2018.737,"endTime":2024.437,"body":"maybe start a self storage facility."},{"speaker":"Fernando Angelucci","startTime":2024.587,"endTime":2028.307,"body":"Just bought what I tell people is when you"},{"speaker":"Fernando Angelucci","startTime":2024.587,"endTime":2028.307,"body":"go buy your first facility, just assume"},{"speaker":"Fernando Angelucci","startTime":2028.307,"endTime":2031.687,"body":"you're not going to make any money on it"},{"speaker":"Fernando Angelucci","startTime":2028.307,"endTime":2031.687,"body":"now that's not going to happen, but just."},{"speaker":"Fernando Angelucci","startTime":2031.987,"endTime":2036.367,"body":"Don't wait for this"},{"speaker":"Fernando Angelucci","startTime":2031.987,"endTime":2036.367,"body":"slam dunk home run deal."},{"speaker":"Fernando Angelucci","startTime":2036.517,"endTime":2039.898,"body":"Do a first base hit for your"},{"speaker":"Fernando Angelucci","startTime":2036.517,"endTime":2039.898,"body":"first deal, because that's"},{"speaker":"Fernando Angelucci","startTime":2039.898,"endTime":2040.718,"body":"where you're going to learn."},{"speaker":"Fernando Angelucci","startTime":2040.868,"endTime":2044.316,"body":"I, when I did all my education and"},{"speaker":"Fernando Angelucci","startTime":2040.868,"endTime":2044.316,"body":"learning about storage and talking to"},{"speaker":"Fernando Angelucci","startTime":2044.316,"endTime":2047.938,"body":"advisors and mentors, that was only"},{"speaker":"Fernando Angelucci","startTime":2044.316,"endTime":2047.938,"body":"about 20% of the actual business."},{"speaker":"Fernando Angelucci","startTime":2047.938,"endTime":2048.568,"body":"I found out that."},{"speaker":"Fernando Angelucci","startTime":2048.868,"endTime":2051.838,"body":"I learned the other 80% from"},{"speaker":"Fernando Angelucci","startTime":2048.868,"endTime":2051.838,"body":"running my first self storage"},{"speaker":"Fernando Angelucci","startTime":2051.838,"endTime":2053.458,"body":"facility in Yorkville, Illinois."},{"speaker":"Fernando Angelucci","startTime":2053.608,"endTime":2054.028,"body":"Right?"},{"speaker":"Fernando Angelucci","startTime":2054.178,"endTime":2055.618,"body":"Ran it for eight months."},{"speaker":"Fernando Angelucci","startTime":2055.798,"endTime":2056.938,"body":"I was the manager."},{"speaker":"Fernando Angelucci","startTime":2057.028,"endTime":2060.148,"body":"I was doing everything myself or me and"},{"speaker":"Fernando Angelucci","startTime":2057.028,"endTime":2060.148,"body":"Steven were doing everything ourselves."},{"speaker":"Fernando Angelucci","startTime":2060.448,"endTime":2063.028,"body":"It's not a hard business to"},{"speaker":"Fernando Angelucci","startTime":2060.448,"endTime":2063.028,"body":"learn, but just got to get in."},{"speaker":"Fernando Angelucci","startTime":2063.058,"endTime":2064.438,"body":"Just got to jump both feet in."},{"speaker":"Fernando Angelucci","startTime":2064.588,"endTime":2065.578,"body":"The second thing is to."},{"speaker":"Fernando Angelucci","startTime":2065.878,"endTime":2070.198,"body":"Like I said, get in the industry and"},{"speaker":"Fernando Angelucci","startTime":2065.878,"endTime":2070.198,"body":"specifically the industry part of it."},{"speaker":"Fernando Angelucci","startTime":2070.228,"endTime":2073.948,"body":"So there's all these trade shows that"},{"speaker":"Fernando Angelucci","startTime":2070.228,"endTime":2073.948,"body":"you should go to that self storage"},{"speaker":"Fernando Angelucci","startTime":2073.948,"endTime":2075.958,"body":"association at the national trade show."},{"speaker":"Fernando Angelucci","startTime":2075.958,"endTime":2079.618,"body":"They have a couple a year there's"},{"speaker":"Fernando Angelucci","startTime":2075.958,"endTime":2079.618,"body":"the inside self storage association."},{"speaker":"Fernando Angelucci","startTime":2079.618,"endTime":2080.908,"body":"I speak at both of those."},{"speaker":"Fernando Angelucci","startTime":2081.208,"endTime":2083.518,"body":"Get there and start rubbing"},{"speaker":"Fernando Angelucci","startTime":2081.208,"endTime":2083.518,"body":"shoulders, other storage investors,"},{"speaker":"Fernando Angelucci","startTime":2083.518,"endTime":2086.248,"body":"see what they're having trouble"},{"speaker":"Fernando Angelucci","startTime":2083.518,"endTime":2086.248,"body":"with, what they're learning."},{"speaker":"Fernando Angelucci","startTime":2086.248,"endTime":2087.928,"body":"What's not important on their minds."},{"speaker":"Fernando Angelucci","startTime":2088.228,"endTime":2092.069,"body":"And then reach out to brokers, brokers"},{"speaker":"Fernando Angelucci","startTime":2088.228,"endTime":2092.069,"body":"there it's in their best interests to"},{"speaker":"Fernando Angelucci","startTime":2092.069,"endTime":2095.019,"body":"get you to a point where you can buy"},{"speaker":"Fernando Angelucci","startTime":2092.069,"endTime":2095.019,"body":"facilities so that they can get paid."},{"speaker":"Fernando Angelucci","startTime":2095.169,"endTime":2097.899,"body":"So they're going to give you as"},{"speaker":"Fernando Angelucci","startTime":2095.169,"endTime":2097.899,"body":"much education as they can to make"},{"speaker":"Fernando Angelucci","startTime":2097.899,"endTime":2099.459,"body":"you a ready buyer for these things."},{"speaker":"Average Joe Finances","startTime":2099.702,"endTime":2101.041,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":2099.702,"endTime":2101.041,"body":"that's fantastic advice."},{"speaker":"Average Joe Finances","startTime":2101.311,"endTime":2104.945,"body":"And, to tie into your baseball"},{"speaker":"Average Joe Finances","startTime":2101.311,"endTime":2104.945,"body":"analogy there, you said, Hey, you"},{"speaker":"Average Joe Finances","startTime":2104.945,"endTime":2105.815,"body":"don't have to get the home run."},{"speaker":"Average Joe Finances","startTime":2105.815,"endTime":2106.788,"body":"You can get that base hit."},{"speaker":"Average Joe Finances","startTime":2106.788,"endTime":2110.502,"body":"Guess what enough base hits eventually"},{"speaker":"Average Joe Finances","startTime":2106.788,"endTime":2110.502,"body":"you start getting RBI's right."},{"speaker":"Average Joe Finances","startTime":2110.502,"endTime":2113.046,"body":"And you're going to start"},{"speaker":"Average Joe Finances","startTime":2110.502,"endTime":2113.046,"body":"bringing these runners home."},{"speaker":"Average Joe Finances","startTime":2113.091,"endTime":2114.561,"body":"And that you're going to start getting it."},{"speaker":"Average Joe Finances","startTime":2114.561,"endTime":2115.46,"body":"And eventually, who knows."},{"speaker":"Average Joe Finances","startTime":2115.475,"endTime":2117.457,"body":"The bases loaded and then"},{"speaker":"Average Joe Finances","startTime":2115.475,"endTime":2117.457,"body":"you get that home run."},{"speaker":"Average Joe Finances","startTime":2117.457,"endTime":2118.483,"body":"You just got a grand slam."},{"speaker":"Average Joe Finances","startTime":2118.539,"endTime":2120.999,"body":"Just to take it all in"},{"speaker":"Average Joe Finances","startTime":2118.539,"endTime":2120.999,"body":"base hits are important."},{"speaker":"Average Joe Finances","startTime":2120.999,"endTime":2123.386,"body":"So the key thing here is just get started."},{"speaker":"Average Joe Finances","startTime":2123.416,"endTime":2125.059,"body":"If it's something you want"},{"speaker":"Average Joe Finances","startTime":2123.416,"endTime":2125.059,"body":"to do, just get started."},{"speaker":"Average Joe Finances","startTime":2125.209,"endTime":2125.629,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2125.929,"endTime":2126.319,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2126.319,"endTime":2130.999,"body":"Now you've already given me some great"},{"speaker":"Average Joe Finances","startTime":2126.319,"endTime":2130.999,"body":"information when it comes to like books"},{"speaker":"Average Joe Finances","startTime":2130.999,"endTime":2132.676,"body":"and everything like that, that you enjoy."},{"speaker":"Average Joe Finances","startTime":2132.976,"endTime":2137.776,"body":"But I still want to ask this question and"},{"speaker":"Average Joe Finances","startTime":2132.976,"endTime":2137.776,"body":"that is, do you have any favorite business"},{"speaker":"Average Joe Finances","startTime":2137.836,"endTime":2140.636,"body":"investing or real estate related book?"},{"speaker":"Average Joe Finances","startTime":2140.936,"endTime":2142.346,"body":"Or podcast or both."},{"speaker":"Fernando Angelucci","startTime":2142.646,"endTime":2143.276,"body":"Absolutely."},{"speaker":"Fernando Angelucci","startTime":2143.276,"endTime":2145.226,"body":"So I'm a voracious reader."},{"speaker":"Fernando Angelucci","startTime":2145.256,"endTime":2149.517,"body":"I think I have like over 180 titles in my"},{"speaker":"Fernando Angelucci","startTime":2145.256,"endTime":2149.517,"body":"audible account and by reader, listener"},{"speaker":"Fernando Angelucci","startTime":2149.577,"endTime":2152.807,"body":"because I'm constantly traveling and"},{"speaker":"Fernando Angelucci","startTime":2149.577,"endTime":2152.807,"body":"stuff so I can get through them faster."},{"speaker":"Fernando Angelucci","startTime":2152.967,"endTime":2156.55,"body":"Recently the one that I've"},{"speaker":"Fernando Angelucci","startTime":2152.967,"endTime":2156.55,"body":"really liked because it's the"},{"speaker":"Fernando Angelucci","startTime":2156.58,"endTime":2158.26,"body":"trunk and branch approach."},{"speaker":"Fernando Angelucci","startTime":2158.29,"endTime":2161.17,"body":"And what I mean by that is instead"},{"speaker":"Fernando Angelucci","startTime":2158.29,"endTime":2161.17,"body":"of trying to reach for the branches"},{"speaker":"Fernando Angelucci","startTime":2161.47,"endTime":2164.65,"body":"to get information, go to the"},{"speaker":"Fernando Angelucci","startTime":2161.47,"endTime":2164.65,"body":"trunk that supports the branches."},{"speaker":"Fernando Angelucci","startTime":2164.95,"endTime":2166.36,"body":"Access to all this other information."},{"speaker":"Fernando Angelucci","startTime":2166.36,"endTime":2167.26,"body":"So here's a perfect book."},{"speaker":"Fernando Angelucci","startTime":2167.56,"endTime":2169.45,"body":"Tim Ferriss is a big hero of mine."},{"speaker":"Fernando Angelucci","startTime":2169.45,"endTime":2173.56,"body":"I follow him, everything he puts out"},{"speaker":"Fernando Angelucci","startTime":2169.45,"endTime":2173.56,"body":"all his podcasts, all his blog posts."},{"speaker":"Fernando Angelucci","startTime":2173.56,"endTime":2175.15,"body":"So Tim, if you're listening"},{"speaker":"Fernando Angelucci","startTime":2173.56,"endTime":2175.15,"body":"to this, hit me up."},{"speaker":"Fernando Angelucci","startTime":2175.3,"endTime":2177.85,"body":"Or if someone that's listening"},{"speaker":"Fernando Angelucci","startTime":2175.3,"endTime":2177.85,"body":"to podcasts, Connect us."},{"speaker":"Fernando Angelucci","startTime":2178.01,"endTime":2182.15,"body":"He has a really great book or two very"},{"speaker":"Fernando Angelucci","startTime":2178.01,"endTime":2182.15,"body":"good books where he distills down all"},{"speaker":"Fernando Angelucci","startTime":2182.15,"endTime":2185.36,"body":"the interviews on his podcast, where"},{"speaker":"Fernando Angelucci","startTime":2182.15,"endTime":2185.36,"body":"he interviews the people that are"},{"speaker":"Fernando Angelucci","startTime":2185.58,"endTime":2187.76,"body":"top of their level in every industry."},{"speaker":"Fernando Angelucci","startTime":2187.974,"endTime":2190.524,"body":"And he distills it down to"},{"speaker":"Fernando Angelucci","startTime":2187.974,"endTime":2190.524,"body":"one, two or three pages."},{"speaker":"Fernando Angelucci","startTime":2190.824,"endTime":2193.554,"body":"In this book, as you're reading"},{"speaker":"Fernando Angelucci","startTime":2190.824,"endTime":2193.554,"body":"each one of these interviews, these"},{"speaker":"Fernando Angelucci","startTime":2193.854,"endTime":2197.754,"body":"top of their class people also give"},{"speaker":"Fernando Angelucci","startTime":2193.854,"endTime":2197.754,"body":"recommendations of what their favorite"},{"speaker":"Fernando Angelucci","startTime":2197.754,"endTime":2200.124,"body":"books were or what resources they use."},{"speaker":"Fernando Angelucci","startTime":2200.124,"endTime":2201.594,"body":"So then I just go out"},{"speaker":"Fernando Angelucci","startTime":2200.124,"endTime":2201.594,"body":"and buy all of those."},{"speaker":"Fernando Angelucci","startTime":2201.894,"endTime":2204.774,"body":"So the first one, he released"},{"speaker":"Fernando Angelucci","startTime":2201.894,"endTime":2204.774,"body":"like this called tools of Titans."},{"speaker":"Fernando Angelucci","startTime":2205.074,"endTime":2208.104,"body":"And then the second one he released"},{"speaker":"Fernando Angelucci","startTime":2205.074,"endTime":2208.104,"body":"was called tribe of mentors."},{"speaker":"Fernando Angelucci","startTime":2208.104,"endTime":2210.324,"body":"And both of them are absolutely amazing."},{"speaker":"Fernando Angelucci","startTime":2210.324,"endTime":2211.644,"body":"I recommend everyone read them."},{"speaker":"Fernando Angelucci","startTime":2211.644,"endTime":2212.604,"body":"They're huge books."},{"speaker":"Fernando Angelucci","startTime":2212.63,"endTime":2215.676,"body":"They're literally like inches"},{"speaker":"Fernando Angelucci","startTime":2212.63,"endTime":2215.676,"body":"thick, but totally worth it."},{"speaker":"Average Joe Finances","startTime":2215.676,"endTime":2216.158,"body":"That's great."},{"speaker":"Average Joe Finances","startTime":2216.218,"endTime":2219.366,"body":"I wrote those down and,  for"},{"speaker":"Average Joe Finances","startTime":2216.218,"endTime":2219.366,"body":"those that are listening, you"},{"speaker":"Average Joe Finances","startTime":2219.366,"endTime":2220.369,"body":"should write those down too."},{"speaker":"Average Joe Finances","startTime":2220.396,"endTime":2223.884,"body":"Cause Fernando has got some"},{"speaker":"Average Joe Finances","startTime":2220.396,"endTime":2223.884,"body":"really good taste in books."},{"speaker":"Average Joe Finances","startTime":2223.884,"endTime":2224.604,"body":"I can tell you that."},{"speaker":"Average Joe Finances","startTime":2224.754,"endTime":2227.686,"body":"Now it's funny though, too, cause you"},{"speaker":"Average Joe Finances","startTime":2224.754,"endTime":2227.686,"body":"also said that you're going to listen that"},{"speaker":"Average Joe Finances","startTime":2227.719,"endTime":2231.035,"body":"this, these are books that you listened"},{"speaker":"Average Joe Finances","startTime":2227.719,"endTime":2231.035,"body":"to because you're traveling a lot."},{"speaker":"Average Joe Finances","startTime":2231.035,"endTime":2233.027,"body":"That's one of the things that"},{"speaker":"Average Joe Finances","startTime":2231.035,"endTime":2233.027,"body":"I like about that too, as well"},{"speaker":"Average Joe Finances","startTime":2233.027,"endTime":2234.799,"body":"as audio books are fantastic."},{"speaker":"Average Joe Finances","startTime":2234.949,"endTime":2238.356,"body":"I don't listen to music"},{"speaker":"Average Joe Finances","startTime":2234.949,"endTime":2238.356,"body":"really that much anymore."},{"speaker":"Average Joe Finances","startTime":2238.446,"endTime":2241.896,"body":"Like when I'm in my commute to work"},{"speaker":"Average Joe Finances","startTime":2238.446,"endTime":2241.896,"body":"or just driving anywhere, I've got"},{"speaker":"Average Joe Finances","startTime":2241.896,"endTime":2243.996,"body":"a podcast or an audio book going."},{"speaker":"Average Joe Finances","startTime":2243.996,"endTime":2247.107,"body":"So that's a super important, it's"},{"speaker":"Average Joe Finances","startTime":2243.996,"endTime":2247.107,"body":"just a great resource to have."},{"speaker":"Average Joe Finances","startTime":2247.324,"endTime":2247.624,"body":"All right."},{"speaker":"Average Joe Finances","startTime":2247.774,"endTime":2251.728,"body":"We had an awesome conversation,"},{"speaker":"Average Joe Finances","startTime":2247.774,"endTime":2251.728,"body":"Fernando,  I can't believe just"},{"speaker":"Average Joe Finances","startTime":2251.938,"endTime":2255.257,"body":"what you've done, in this small time"},{"speaker":"Average Joe Finances","startTime":2251.938,"endTime":2255.257,"body":"period, but you've got the drive."},{"speaker":"Average Joe Finances","startTime":2255.257,"endTime":2256.217,"body":"You've got the motivation."},{"speaker":"Average Joe Finances","startTime":2256.217,"endTime":2257.657,"body":"You're absolutely crushing it."},{"speaker":"Average Joe Finances","startTime":2257.957,"endTime":2261.587,"body":"So there's people probably listening"},{"speaker":"Average Joe Finances","startTime":2257.957,"endTime":2261.587,"body":"and they're saying, man, I want to know"},{"speaker":"Average Joe Finances","startTime":2261.587,"endTime":2263.657,"body":"more about Fernando, what he's doing."},{"speaker":"Average Joe Finances","startTime":2263.957,"endTime":2268.809,"body":"I want to know more about self storage,"},{"speaker":"Average Joe Finances","startTime":2263.957,"endTime":2268.809,"body":"is there anything that I can do to follow"},{"speaker":"Average Joe Finances","startTime":2268.809,"endTime":2270.279,"body":"him anywhere or anything like that?"},{"speaker":"Average Joe Finances","startTime":2270.279,"endTime":2272.599,"body":"So if where can people find"},{"speaker":"Average Joe Finances","startTime":2270.279,"endTime":2272.599,"body":"more information about you?"},{"speaker":"Average Joe Finances","startTime":2272.7,"endTime":2275.28,"body":"Do you have a website you could"},{"speaker":"Average Joe Finances","startTime":2272.7,"endTime":2275.28,"body":"share with us social media"},{"speaker":"Average Joe Finances","startTime":2275.28,"endTime":2276.69,"body":"profiles, anything like that?"},{"speaker":"Average Joe Finances","startTime":2276.99,"endTime":2277.59,"body":"Please let us know."},{"speaker":"Fernando Angelucci","startTime":2277.912,"endTime":2279.772,"body":"Yeah, so you"},{"speaker":"Fernando Angelucci","startTime":2277.912,"endTime":2279.772,"body":"can, you could follow us on all our"},{"speaker":"Fernando Angelucci","startTime":2279.772,"endTime":2281.872,"body":"websites and social media spots."},{"speaker":"Fernando Angelucci","startTime":2281.872,"endTime":2285.575,"body":"The newest company is called self"},{"speaker":"Fernando Angelucci","startTime":2281.872,"endTime":2285.575,"body":"storage, syndicated equities, and we"},{"speaker":"Fernando Angelucci","startTime":2285.575,"endTime":2288.335,"body":"actually have a really easy domain"},{"speaker":"Fernando Angelucci","startTime":2285.575,"endTime":2288.335,"body":"name is just the initials of that."},{"speaker":"Fernando Angelucci","startTime":2288.335,"endTime":2290.392,"body":"It's S e.com."},{"speaker":"Fernando Angelucci","startTime":2290.542,"endTime":2291.532,"body":"But what I find is."},{"speaker":"Fernando Angelucci","startTime":2291.832,"endTime":2294.532,"body":"The more barriers you put in"},{"speaker":"Fernando Angelucci","startTime":2291.832,"endTime":2294.532,"body":"front of people to reach out"},{"speaker":"Fernando Angelucci","startTime":2294.532,"endTime":2295.942,"body":"to you, the more they fall off."},{"speaker":"Fernando Angelucci","startTime":2295.942,"endTime":2298.492,"body":"So something I'd love to do"},{"speaker":"Fernando Angelucci","startTime":2295.942,"endTime":2298.492,"body":"for your podcast is actually"},{"speaker":"Fernando Angelucci","startTime":2298.492,"endTime":2299.932,"body":"give out my cell phone number."},{"speaker":"Fernando Angelucci","startTime":2299.932,"endTime":2306.622,"body":"If you're cool with that"},{"speaker":"Fernando Angelucci","startTime":2299.932,"endTime":2306.622,"body":"it's area code 6 3 0 4 0 8."},{"speaker":"Fernando Angelucci","startTime":2306.922,"endTime":2312.022,"body":"8 0 9 0 that's 6 3 0 4 0 8 8 0 9 0."},{"speaker":"Fernando Angelucci","startTime":2312.022,"endTime":2313.642,"body":"That is my real cell phone number."},{"speaker":"Fernando Angelucci","startTime":2313.642,"endTime":2316.612,"body":"So feel free to shoot me"},{"speaker":"Fernando Angelucci","startTime":2313.642,"endTime":2316.612,"body":"a text or give me a call."},{"speaker":"Fernando Angelucci","startTime":2316.612,"endTime":2318.892,"body":"I promise I'll answer in a timely fashion."},{"speaker":"Fernando Angelucci","startTime":2319.192,"endTime":2321.352,"body":"If there's anything I can do"},{"speaker":"Fernando Angelucci","startTime":2319.192,"endTime":2321.352,"body":"to help you out, let me know."},{"speaker":"Average Joe Finances","startTime":2321.512,"endTime":2323.162,"body":"You're a"},{"speaker":"Average Joe Finances","startTime":2321.512,"endTime":2323.162,"body":"brave man, putting out your cell"},{"speaker":"Average Joe Finances","startTime":2323.162,"endTime":2326.651,"body":"phone number,  on the worldwide"},{"speaker":"Average Joe Finances","startTime":2323.162,"endTime":2326.651,"body":"interwebs, but, Hey, awesome, man."},{"speaker":"Average Joe Finances","startTime":2326.661,"endTime":2327.381,"body":"Appreciate that."},{"speaker":"Average Joe Finances","startTime":2327.381,"endTime":2332.408,"body":"Appreciate the fact that you're taking"},{"speaker":"Average Joe Finances","startTime":2327.381,"endTime":2332.408,"body":"the time to, just open up to anybody"},{"speaker":"Average Joe Finances","startTime":2332.408,"endTime":2333.428,"body":"that wants to reach out to you."},{"speaker":"Average Joe Finances","startTime":2333.428,"endTime":2337.358,"body":"And also for taking the time to"},{"speaker":"Average Joe Finances","startTime":2333.428,"endTime":2337.358,"body":"chat with me today on the podcast."},{"speaker":"Average Joe Finances","startTime":2337.658,"endTime":2339.038,"body":"I really had a blast."},{"speaker":"Average Joe Finances","startTime":2339.06,"endTime":2343.86,"body":"This was really informative and you"},{"speaker":"Average Joe Finances","startTime":2339.06,"endTime":2343.86,"body":"provided a lot of value just sharing,"},{"speaker":"Average Joe Finances","startTime":2343.978,"endTime":2348.47,"body":"what you learned over the years as you"},{"speaker":"Average Joe Finances","startTime":2343.978,"endTime":2348.47,"body":"got into this, and you've touched on so"},{"speaker":"Average Joe Finances","startTime":2348.47,"endTime":2350.24,"body":"many different aspects of real estate."},{"speaker":"Average Joe Finances","startTime":2350.45,"endTime":2351.65,"body":"And I just want to point that out."},{"speaker":"Average Joe Finances","startTime":2351.65,"endTime":2353.3,"body":"How, you made that switch, right?"},{"speaker":"Average Joe Finances","startTime":2353.3,"endTime":2357.634,"body":"You went from wholesaling to, you started"},{"speaker":"Average Joe Finances","startTime":2353.3,"endTime":2357.634,"body":"doing some small commercial multifamily"},{"speaker":"Average Joe Finances","startTime":2357.634,"endTime":2360.634,"body":"properties to wholesaling self storage."},{"speaker":"Average Joe Finances","startTime":2360.934,"endTime":2363.784,"body":"To investing in self-storage"},{"speaker":"Average Joe Finances","startTime":2360.934,"endTime":2363.784,"body":"and still wholesaling it."},{"speaker":"Average Joe Finances","startTime":2363.784,"endTime":2368.108,"body":"But the way that you've just scaled and"},{"speaker":"Average Joe Finances","startTime":2363.784,"endTime":2368.108,"body":"scaled is just absolutely phenomenal."},{"speaker":"Average Joe Finances","startTime":2368.293,"endTime":2371.443,"body":"And to have somebody on the show,"},{"speaker":"Average Joe Finances","startTime":2368.293,"endTime":2371.443,"body":"that's done something like that, man."},{"speaker":"Average Joe Finances","startTime":2371.443,"endTime":2375.223,"body":"I just want to say again, thank you"},{"speaker":"Average Joe Finances","startTime":2371.443,"endTime":2375.223,"body":"so much for sharing everything that"},{"speaker":"Average Joe Finances","startTime":2375.223,"endTime":2378.523,"body":"you shared and just taking this"},{"speaker":"Average Joe Finances","startTime":2375.223,"endTime":2378.523,"body":"time to talk with me today, man."},{"speaker":"Average Joe Finances","startTime":2378.523,"endTime":2379.255,"body":"It's been a blast."},{"speaker":"Fernando Angelucci","startTime":2379.431,"endTime":2379.551,"body":"Yeah."},{"speaker":"Fernando Angelucci","startTime":2379.551,"endTime":2380.481,"body":"I've had a lot of fun, man."},{"speaker":"Fernando Angelucci","startTime":2380.481,"endTime":2381.171,"body":"You're awesome."},{"speaker":"Fernando Angelucci","startTime":2381.171,"endTime":2381.651,"body":"Interviewer."},{"speaker":"Fernando Angelucci","startTime":2381.651,"endTime":2382.761,"body":"So appreciate you."},{"speaker":"Average Joe Finances","startTime":2383.061,"endTime":2383.601,"body":"Thanks man."}]}