{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.5,"endTime":2.989,"body":"Hey, Welcome back"},{"speaker":"Average Joe Finances","startTime":0.5,"endTime":2.989,"body":"to the Average Joe Finances podcast."},{"speaker":"Average Joe Finances","startTime":2.989,"endTime":7.04,"body":"I'm your host, Mike Cavaggioni, and"},{"speaker":"Average Joe Finances","startTime":2.989,"endTime":7.04,"body":"today's guest is Matthew Sullivan."},{"speaker":"Average Joe Finances","startTime":7.279,"endTime":9.32,"body":"So Matthew, super excited"},{"speaker":"Average Joe Finances","startTime":7.279,"endTime":9.32,"body":"to talk to you today."},{"speaker":"Average Joe Finances","startTime":9.32,"endTime":10.31,"body":"Thanks for joining me."},{"speaker":"Matthew Sullivan","startTime":10.926,"endTime":12.426,"body":"Thank"},{"speaker":"Matthew Sullivan","startTime":10.926,"endTime":12.426,"body":"you for having me on, Mike."},{"speaker":"Average Joe Finances","startTime":12.756,"endTime":13.512,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":13.512,"endTime":16.738,"body":"Hey, I wanna start this off the same"},{"speaker":"Average Joe Finances","startTime":13.512,"endTime":16.738,"body":"way I start every podcast episode"},{"speaker":"Average Joe Finances","startTime":16.738,"endTime":18.928,"body":"off, and we wanna know more about you."},{"speaker":"Average Joe Finances","startTime":18.928,"endTime":20.788,"body":"So could you share a"},{"speaker":"Average Joe Finances","startTime":18.928,"endTime":20.788,"body":"little bit about yourself?"},{"speaker":"Average Joe Finances","startTime":20.793,"endTime":21.538,"body":"Share your story."},{"speaker":"Average Joe Finances","startTime":21.748,"endTime":24.542,"body":"You can go as far into it as you"},{"speaker":"Average Joe Finances","startTime":21.748,"endTime":24.542,"body":"want or as little detail as you"},{"speaker":"Average Joe Finances","startTime":24.542,"endTime":28.832,"body":"want we're all ears, but we want"},{"speaker":"Average Joe Finances","startTime":24.542,"endTime":28.832,"body":"to know who is Matthew Sullivan."},{"speaker":"Matthew Sullivan","startTime":28.929,"endTime":31.389,"body":"I think we've"},{"speaker":"Matthew Sullivan","startTime":28.929,"endTime":31.389,"body":"got to be very conscious of your"},{"speaker":"Matthew Sullivan","startTime":31.389,"endTime":35.709,"body":"audience and you, and the fact that"},{"speaker":"Matthew Sullivan","startTime":31.389,"endTime":35.709,"body":"you don't want to suddenly lose huge"},{"speaker":"Matthew Sullivan","startTime":35.709,"endTime":37.389,"body":"numbers of people from your podcast."},{"speaker":"Matthew Sullivan","startTime":37.389,"endTime":38.725,"body":"So I will keep it short."},{"speaker":"Matthew Sullivan","startTime":38.725,"endTime":42.758,"body":"But my background really is what one"},{"speaker":"Matthew Sullivan","startTime":38.725,"endTime":42.758,"body":"would describe as entrepreneurial."},{"speaker":"Matthew Sullivan","startTime":42.804,"endTime":47.441,"body":"So I've been, building businesses for"},{"speaker":"Matthew Sullivan","startTime":42.804,"endTime":47.441,"body":"I think probably almost 30 years now."},{"speaker":"Matthew Sullivan","startTime":47.74,"endTime":53.277,"body":"And my focus has been on"},{"speaker":"Matthew Sullivan","startTime":47.74,"endTime":53.277,"body":"telecoms, finance, and technology."},{"speaker":"Matthew Sullivan","startTime":53.277,"endTime":55.257,"body":"I moved to the US about 10 years ago."},{"speaker":"Matthew Sullivan","startTime":55.263,"endTime":59.282,"body":"And one of the things that I really"},{"speaker":"Matthew Sullivan","startTime":55.263,"endTime":59.282,"body":"wanted to get involved with, which I"},{"speaker":"Matthew Sullivan","startTime":59.282,"endTime":63.654,"body":"hadn't really done in the UK was to"},{"speaker":"Matthew 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Sullivan","startTime":76.537,"endTime":80.797,"body":"everything that you've learned over"},{"speaker":"Matthew Sullivan","startTime":80.797,"endTime":85.114,"body":"the last 30 years in, platforms and"},{"speaker":"Matthew Sullivan","startTime":80.797,"endTime":85.114,"body":"technology and finance and so it's really"},{"speaker":"Matthew Sullivan","startTime":85.114,"endTime":86.854,"body":"a combination of all of those things."},{"speaker":"Matthew Sullivan","startTime":86.926,"endTime":90.797,"body":"Thankfully I'm building a"},{"speaker":"Matthew Sullivan","startTime":86.926,"endTime":90.797,"body":"business that allows me to build"},{"speaker":"Matthew Sullivan","startTime":90.802,"endTime":92.267,"body":"on some of my past experiences."},{"speaker":"Matthew Sullivan","startTime":92.267,"endTime":92.97,"body":"Fun bits."},{"speaker":"Matthew Sullivan","startTime":92.97,"endTime":95.827,"body":"I'm a helicopter pilot, have all"},{"speaker":"Matthew Sullivan","startTime":92.97,"endTime":95.827,"body":"that I've flown for quite a while."},{"speaker":"Matthew Sullivan","startTime":95.827,"endTime":100.838,"body":"I used to be one of the directors and"},{"speaker":"Matthew Sullivan","startTime":95.827,"endTime":100.838,"body":"trustees of the Royal London Hospital's"},{"speaker":"Matthew Sullivan","startTime":100.843,"endTime":104.618,"body":"Air Ambulance in London, which was"},{"speaker":"Matthew Sullivan","startTime":100.843,"endTime":104.618,"body":"run by Richard Branson's Virgin group."},{"speaker":"Matthew Sullivan","startTime":104.618,"endTime":108.048,"body":"I spent a few years working"},{"speaker":"Matthew Sullivan","startTime":104.618,"endTime":108.048,"body":"alongside Richard with his team."},{"speaker":"Matthew Sullivan","startTime":108.112,"endTime":112.192,"body":"Looking back, it's been a very sort"},{"speaker":"Matthew Sullivan","startTime":108.112,"endTime":112.192,"body":"of wide set of experiences building"},{"speaker":"Matthew Sullivan","startTime":112.592,"endTime":119.153,"body":"businesses in India, Australia, the UK"},{"speaker":"Matthew Sullivan","startTime":112.592,"endTime":119.153,"body":"and, laterally the last decade in the US."},{"speaker":"Matthew Sullivan","startTime":119.703,"endTime":122.224,"body":"So hopefully there's still one or"},{"speaker":"Matthew Sullivan","startTime":119.703,"endTime":122.224,"body":"two people left listening after"},{"speaker":"Matthew Sullivan","startTime":122.224,"endTime":123.91,"body":"that sort of long, soliloquy."},{"speaker":"Average Joe Finances","startTime":124.415,"endTime":125.715,"body":"No,"},{"speaker":"Average Joe Finances","startTime":124.415,"endTime":125.715,"body":"Matthew that's fantastic."},{"speaker":"Average Joe Finances","startTime":125.793,"endTime":130.468,"body":"It seems like you're just a well-rounded"},{"speaker":"Average Joe Finances","startTime":125.793,"endTime":130.468,"body":"entrepreneur and, talking about,"},{"speaker":"Average Joe Finances","startTime":130.494,"endTime":134.901,"body":"what you were doing before you came"},{"speaker":"Average Joe Finances","startTime":130.494,"endTime":134.901,"body":"to the US and how attractive real"},{"speaker":"Average Joe Finances","startTime":134.901,"endTime":138.336,"body":"estate was to you when you came to"},{"speaker":"Average Joe Finances","startTime":134.901,"endTime":138.336,"body":"the US is really awesome, right?"},{"speaker":"Average Joe Finances","startTime":138.336,"endTime":141.958,"body":"Because I feel like a lot of people"},{"speaker":"Average Joe Finances","startTime":138.336,"endTime":141.958,"body":"that are in any type of business,"},{"speaker":"Average Joe Finances","startTime":142.633,"endTime":148.861,"body":"Always wind up looking at real estate"},{"speaker":"Average Joe Finances","startTime":142.633,"endTime":148.861,"body":"as a haven for their wealth or a way"},{"speaker":"Average Joe 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now here in the US."},{"speaker":"Average Joe Finances","startTime":167.88,"endTime":172.17,"body":"Why have you decided to call"},{"speaker":"Average Joe Finances","startTime":167.88,"endTime":172.17,"body":"the US home at this point?"},{"speaker":"Matthew Sullivan","startTime":172.23,"endTime":174.54,"body":"I think you need to"},{"speaker":"Matthew Sullivan","startTime":172.23,"endTime":174.54,"body":"ask my wife that question actually."},{"speaker":"Matthew Sullivan","startTime":174.718,"endTime":175.478,"body":"That's the clue."},{"speaker":"Average Joe Finances","startTime":175.478,"endTime":175.718,"body":"Ok."},{"speaker":"Matthew Sullivan","startTime":175.718,"endTime":177.088,"body":"A"},{"speaker":"Matthew Sullivan","startTime":175.718,"endTime":177.088,"body":"wife plus four children."},{"speaker":"Average Joe Finances","startTime":177.088,"endTime":177.262,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":177.267,"endTime":177.565,"body":"Okay."},{"speaker":"Matthew Sullivan","startTime":177.584,"endTime":180.666,"body":"Normally, I think it's"},{"speaker":"Matthew Sullivan","startTime":177.584,"endTime":180.666,"body":"the dumb thing to stay in the country"},{"speaker":"Matthew Sullivan","startTime":180.666,"endTime":181.896,"body":"where actually I haven't said that."},{"speaker":"Matthew Sullivan","startTime":181.896,"endTime":182.046,"body":"Yeah."},{"speaker":"Matthew Sullivan","startTime":182.286,"endTime":184.797,"body":"No, but so it is really personal"},{"speaker":"Matthew Sullivan","startTime":182.286,"endTime":184.797,"body":"reasons that I came over here."},{"speaker":"Matthew Sullivan","startTime":184.861,"endTime":189.814,"body":"And it's been really exciting and"},{"speaker":"Matthew Sullivan","startTime":184.861,"endTime":189.814,"body":"fun and joyous all the way through."},{"speaker":"Matthew Sullivan","startTime":189.864,"endTime":193.794,"body":"I still have that same excitement"},{"speaker":"Matthew Sullivan","startTime":189.864,"endTime":193.794,"body":"that, you know, that a school boy"},{"speaker":"Matthew Sullivan","startTime":193.799,"endTime":195.654,"body":"does when he goes on his first trip."},{"speaker":"Matthew Sullivan","startTime":196.164,"endTime":196.584,"body":"You know what I mean?"},{"speaker":"Matthew Sullivan","startTime":196.589,"endTime":198.534,"body":"His first road trip or"},{"speaker":"Matthew Sullivan","startTime":196.589,"endTime":198.534,"body":"his first school trip."},{"speaker":"Matthew Sullivan","startTime":198.534,"endTime":202.344,"body":"That fact that your, when you drive"},{"speaker":"Matthew Sullivan","startTime":198.534,"endTime":202.344,"body":"places, your eyes are still going."},{"speaker":"Matthew Sullivan","startTime":202.344,"endTime":203.094,"body":"Cool, look at that."},{"speaker":"Matthew 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from"},{"speaker":"Matthew Sullivan","startTime":219.937,"endTime":223.784,"body":"our new home in North Carolina,"},{"speaker":"Matthew Sullivan","startTime":223.784,"endTime":226.094,"body":"so we're now on the East Coast,"},{"speaker":"Matthew Sullivan","startTime":223.784,"endTime":226.094,"body":"so we've done a lot of moving."},{"speaker":"Matthew Sullivan","startTime":226.129,"endTime":229.555,"body":"But yeah, it's been a really"},{"speaker":"Matthew Sullivan","startTime":226.129,"endTime":229.555,"body":"exciting time for me and  I still"},{"speaker":"Matthew Sullivan","startTime":229.555,"endTime":231.259,"body":"have that that sort of fun fact."},{"speaker":"Average Joe Finances","startTime":231.259,"endTime":231.712,"body":"That's great."},{"speaker":"Average Joe Finances","startTime":231.712,"endTime":234.292,"body":"So Matthew, I have to ask you then,"},{"speaker":"Average Joe Finances","startTime":231.712,"endTime":234.292,"body":"so since you lived on the West"},{"speaker":"Average Joe Finances","startTime":234.292,"endTime":237.652,"body":"Coast when you first got here, now"},{"speaker":"Average Joe Finances","startTime":234.292,"endTime":237.652,"body":"living on the East Coast, which is"},{"speaker":"Average Joe Finances","startTime":237.652,"endTime":239.752,"body":"better, West Coast or East Coast?"},{"speaker":"Matthew Sullivan","startTime":239.791,"endTime":240.391,"body":"That's right."},{"speaker":"Matthew Sullivan","startTime":240.396,"endTime":240.531,"body":"Yeah."},{"speaker":"Matthew Sullivan","startTime":240.861,"endTime":241.191,"body":"Yes."},{"speaker":"Average Joe Finances","startTime":241.521,"endTime":242.451,"body":"Didn't expect that."},{"speaker":"Matthew Sullivan","startTime":242.479,"endTime":245.493,"body":"How can you,"},{"speaker":"Matthew Sullivan","startTime":242.479,"endTime":245.493,"body":"I think I would answer that by"},{"speaker":"Matthew Sullivan","startTime":245.498,"endTime":247.083,"body":"saying they're very different."},{"speaker":"Matthew Sullivan","startTime":247.413,"endTime":251.625,"body":"So what's really good about and"},{"speaker":"Matthew Sullivan","startTime":247.413,"endTime":251.625,"body":"a lot of it really depends on"},{"speaker":"Matthew Sullivan","startTime":251.985,"endTime":253.335,"body":"who you are as an individual."},{"speaker":"Matthew Sullivan","startTime":253.335,"endTime":258.534,"body":"So I really love the vibrancy of Los"},{"speaker":"Matthew Sullivan","startTime":253.335,"endTime":258.534,"body":"Angeles and Orange County and that"},{"speaker":"Matthew Sullivan","startTime":258.534,"endTime":261.703,"body":"sort of, the ability, the fact that you"},{"speaker":"Matthew Sullivan","startTime":258.534,"endTime":261.703,"body":"are in the center of everything now."},{"speaker":"Matthew Sullivan","startTime":261.794,"endTime":267.03,"body":"Coming from the UK I came from Kent, which"},{"speaker":"Matthew Sullivan","startTime":261.794,"endTime":267.03,"body":"was, beautiful rolling green countryside."},{"speaker":"Matthew Sullivan","startTime":267.48,"endTime":272.73,"body":"That was a part of me that just didn't"},{"speaker":"Matthew Sullivan","startTime":267.48,"endTime":272.73,"body":"feel settled despite the fact that there"},{"speaker":"Matthew Sullivan","startTime":272.73,"endTime":274.84,"body":"was this fantastic business environment."},{"speaker":"Matthew Sullivan","startTime":274.874,"endTime":278.201,"body":"And, having built the business I"},{"speaker":"Matthew Sullivan","startTime":274.874,"endTime":278.201,"body":"feel much more at home here on the"},{"speaker":"Matthew Sullivan","startTime":278.201,"endTime":282.191,"body":"East Coast because it feels much"},{"speaker":"Matthew Sullivan","startTime":278.201,"endTime":282.191,"body":"closer to where I spent the first,"},{"speaker":"Matthew Sullivan","startTime":282.423,"endTime":284.413,"body":"the first few decades of my life."},{"speaker":"Matthew Sullivan","startTime":284.486,"endTime":286.285,"body":"And I think they're all fantastic places."},{"speaker":"Matthew Sullivan","startTime":286.285,"endTime":287.935,"body":"So we live quite close to Raleigh."},{"speaker":"Matthew Sullivan","startTime":287.999,"endTime":292.102,"body":"And there is a huge sort of vibrant,"},{"speaker":"Matthew Sullivan","startTime":287.999,"endTime":292.102,"body":"business and educational community there."},{"speaker":"Matthew Sullivan","startTime":292.184,"endTime":297.149,"body":"Both sides have their own huge benefits"},{"speaker":"Matthew Sullivan","startTime":292.184,"endTime":297.149,"body":"and I feel like I'm constantly moving"},{"speaker":"Matthew Sullivan","startTime":297.149,"endTime":300.401,"body":"forward as opposed to sitting there"},{"speaker":"Matthew Sullivan","startTime":297.149,"endTime":300.401,"body":"going I think I probably should"},{"speaker":"Matthew Sullivan","startTime":300.401,"endTime":301.871,"body":"go back to California for this."},{"speaker":"Matthew Sullivan","startTime":301.928,"endTime":303.768,"body":"I don't feel I've lost anything."},{"speaker":"Matthew Sullivan","startTime":303.768,"endTime":304.538,"body":"Moving to the East Coast."},{"speaker":"Average Joe Finances","startTime":305.458,"endTime":305.928,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":305.928,"endTime":309.669,"body":"It's funny cause like each area, the"},{"speaker":"Average Joe Finances","startTime":305.928,"endTime":309.669,"body":"United States is so unique, right?"},{"speaker":"Average Joe Finances","startTime":309.669,"endTime":313.524,"body":"When you look at it from just the"},{"speaker":"Average Joe Finances","startTime":309.669,"endTime":313.524,"body":"different areas you can live in."},{"speaker":"Matthew Sullivan","startTime":313.664,"endTime":314.184,"body":"It's huge."},{"speaker":"Average Joe Finances","startTime":314.184,"endTime":315.894,"body":"And how different,"},{"speaker":"Matthew Sullivan","startTime":316.104,"endTime":317.574,"body":"you have"},{"speaker":"Matthew Sullivan","startTime":316.104,"endTime":317.574,"body":"no idea how big it is."},{"speaker":"Matthew Sullivan","startTime":317.574,"endTime":318.547,"body":"That's the thing, that's the thing."},{"speaker":"Matthew Sullivan","startTime":318.552,"endTime":318.847,"body":"Sorry."},{"speaker":"Average Joe Finances","startTime":318.997,"endTime":319.277,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":319.277,"endTime":321.744,"body":"It's just like how different areas are."},{"speaker":"Average Joe Finances","startTime":321.792,"endTime":324.479,"body":"I grew up in New York, I was"},{"speaker":"Average Joe Finances","startTime":321.792,"endTime":324.479,"body":"I served 20 years in the Navy."},{"speaker":"Average Joe Finances","startTime":324.479,"endTime":326.379,"body":"I spent 15 years stationed in Virginia."},{"speaker":"Average Joe Finances","startTime":326.4,"endTime":330.55,"body":"And going from the north down"},{"speaker":"Average Joe Finances","startTime":326.4,"endTime":330.55,"body":"south to Virginia was a huge"},{"speaker":"Average Joe Finances","startTime":331.165,"endTime":332.296,"body":"eye opening experience for me."},{"speaker":"Average Joe Finances","startTime":332.296,"endTime":335.873,"body":"I've been to San Diego and Coronado"},{"speaker":"Average Joe Finances","startTime":332.296,"endTime":335.873,"body":"a couple times, for work trips."},{"speaker":"Average Joe Finances","startTime":337.163,"endTime":338.847,"body":"But now I, I wind up out in Hawaii."},{"speaker":"Average Joe Finances","startTime":338.847,"endTime":342.761,"body":"This is where I retired from the"},{"speaker":"Average Joe Finances","startTime":338.847,"endTime":342.761,"body":"military at, and it's again, a"},{"speaker":"Average Joe Finances","startTime":342.761,"endTime":344.261,"body":"whole different world, right?"},{"speaker":"Average Joe Finances","startTime":344.501,"endTime":346.811,"body":"So it's just amazing all"},{"speaker":"Average Joe Finances","startTime":344.501,"endTime":346.811,"body":"these different areas."},{"speaker":"Average Joe Finances","startTime":346.811,"endTime":350.319,"body":"And I just wanna get your perspective on"},{"speaker":"Average Joe Finances","startTime":346.811,"endTime":350.319,"body":"that, especially being from the UK and"},{"speaker":"Average Joe Finances","startTime":350.319,"endTime":353.859,"body":"then moving here, and then being on the"},{"speaker":"Average Joe Finances","startTime":350.319,"endTime":353.859,"body":"west coast and being on the East coast and"},{"speaker":"Average Joe Finances","startTime":353.904,"endTime":356.094,"body":"see like what your thoughts were on that."},{"speaker":"Average Joe Finances","startTime":356.094,"endTime":357.395,"body":"And it's unique, right?"},{"speaker":"Average Joe Finances","startTime":357.425,"endTime":361.314,"body":"It's a unique experience that you"},{"speaker":"Average Joe Finances","startTime":357.425,"endTime":361.314,"body":"get to that you get to have right?"},{"speaker":"Matthew Sullivan","startTime":361.714,"endTime":364.016,"body":"One of the things,"},{"speaker":"Matthew Sullivan","startTime":361.714,"endTime":364.016,"body":"they are very different, so Los Angeles"},{"speaker":"Matthew Sullivan","startTime":364.016,"endTime":366.056,"body":"and New York are very different places."},{"speaker":"Matthew Sullivan","startTime":367.026,"endTime":371.859,"body":"Culturally, I think I'm more at home in"},{"speaker":"Matthew Sullivan","startTime":367.026,"endTime":371.859,"body":"New York than I would be in Los Angeles."},{"speaker":"Matthew Sullivan","startTime":371.949,"endTime":372.729,"body":"I prefer,"},{"speaker":"Average Joe Finances","startTime":372.734,"endTime":373.479,"body":"that's a good answer."},{"speaker":"Matthew Sullivan","startTime":373.484,"endTime":376.422,"body":"The directness, only"},{"speaker":"Matthew Sullivan","startTime":373.484,"endTime":376.422,"body":"because you said you came from New York."},{"speaker":"Average Joe Finances","startTime":376.422,"endTime":376.678,"body":"Yeah."},{"speaker":"Matthew Sullivan","startTime":376.708,"endTime":379.318,"body":"If you said,"},{"speaker":"Matthew Sullivan","startTime":376.708,"endTime":379.318,"body":"now I do honestly cause the thing"},{"speaker":"Average Joe Finances","startTime":379.528,"endTime":380.308,"body":"they have the best pizza."},{"speaker":"Matthew Sullivan","startTime":380.313,"endTime":380.726,"body":"You always."},{"speaker":"Matthew Sullivan","startTime":380.73,"endTime":381.78,"body":"Yeah, of course."},{"speaker":"Matthew Sullivan","startTime":381.82,"endTime":386.344,"body":"And that goes without saying, but you feel"},{"speaker":"Matthew 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New"},{"speaker":"Matthew Sullivan","startTime":400.452,"endTime":402.181,"body":"York over the years but I like it."},{"speaker":"Matthew Sullivan","startTime":402.181,"endTime":404.992,"body":"I just love the fact that New York,"},{"speaker":"Matthew Sullivan","startTime":402.181,"endTime":404.992,"body":"you can, as I say, culturally and"},{"speaker":"Matthew Sullivan","startTime":405.422,"endTime":408.021,"body":"geographically, it's much more"},{"speaker":"Matthew Sullivan","startTime":405.422,"endTime":408.021,"body":"aligned to what I'm used to, which,"},{"speaker":"Matthew Sullivan","startTime":408.051,"endTime":411.587,"body":"which means nothing for someone"},{"speaker":"Matthew Sullivan","startTime":408.051,"endTime":411.587,"body":"else, so everyone has their own"},{"speaker":"Matthew Sullivan","startTime":411.587,"endTime":413.524,"body":"individual views and reasons why."},{"speaker":"Matthew Sullivan","startTime":413.582,"endTime":416.151,"body":"Some people dream and love"},{"speaker":"Matthew Sullivan","startTime":413.582,"endTime":416.151,"body":"about, love California."},{"speaker":"Matthew Sullivan","startTime":416.218,"endTime":418.528,"body":"It's a very extended brand."},{"speaker":"Matthew Sullivan","startTime":418.528,"endTime":419.338,"body":"Let me put it like that."},{"speaker":"Matthew Sullivan","startTime":419.428,"endTime":423.012,"body":"And when you get there, you think, yeah,"},{"speaker":"Matthew Sullivan","startTime":419.428,"endTime":423.012,"body":"it's not all, it's cracked up to be."},{"speaker":"Average Joe Finances","startTime":423.067,"endTime":423.157,"body":"Yeah."},{"speaker":"Matthew Sullivan","startTime":423.157,"endTime":425.197,"body":"Ocean's fantastic"},{"speaker":"Matthew Sullivan","startTime":423.157,"endTime":425.197,"body":"and there's some fantastic bits,"},{"speaker":"Matthew Sullivan","startTime":425.197,"endTime":428.954,"body":"but there are other bits that"},{"speaker":"Matthew Sullivan","startTime":425.197,"endTime":428.954,"body":"are not quite as didn't remember"},{"speaker":"Matthew Sullivan","startTime":428.954,"endTime":430.064,"body":"reading about this in the brochure."},{"speaker":"Average Joe Finances","startTime":430.274,"endTime":432.964,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":430.274,"endTime":432.964,"body":"well the Pacific is definitely"},{"speaker":"Average Joe Finances","startTime":432.969,"endTime":434.794,"body":"nicer than the Atlantic Ocean."},{"speaker":"Average Joe Finances","startTime":434.852,"endTime":436.812,"body":"I can a hundred percent support that."},{"speaker":"Matthew Sullivan","startTime":436.818,"endTime":439.27,"body":"But the"},{"speaker":"Matthew Sullivan","startTime":436.818,"endTime":439.27,"body":"Atlantic is significantly warmer."},{"speaker":"Average Joe Finances","startTime":441.07,"endTime":441.85,"body":"Yeah, it is."},{"speaker":"Average Joe Finances","startTime":441.85,"endTime":442.21,"body":"It is."},{"speaker":"Average Joe Finances","startTime":442.255,"endTime":444.356,"body":"that's, you also have"},{"speaker":"Average Joe Finances","startTime":442.255,"endTime":444.356,"body":"the what's it called?"},{"speaker":"Average Joe Finances","startTime":444.356,"endTime":445.93,"body":"The see I used to go fish it."},{"speaker":"Average Joe Finances","startTime":446.53,"endTime":446.77,"body":"Why?"},{"speaker":"Average Joe Finances","startTime":446.842,"endTime":448.282,"body":"I'm having a brain fart right now."},{"speaker":"Matthew Sullivan","startTime":449.902,"endTime":450.943,"body":"A great white shark?"},{"speaker":"Average Joe Finances","startTime":450.974,"endTime":451.244,"body":"No."},{"speaker":"Average Joe Finances","startTime":451.271,"endTime":454.223,"body":"We used to go shark fishing off on"},{"speaker":"Average Joe Finances","startTime":451.271,"endTime":454.223,"body":"Long Island, but there's What's,"},{"speaker":"Average Joe Finances","startTime":454.523,"endTime":455.753,"body":"why am I having such a brain fart?"},{"speaker":"Average Joe Finances","startTime":455.843,"endTime":456.934,"body":"The, the Gulf Stream."},{"speaker":"Average Joe Finances","startTime":457.234,"endTime":458.944,"body":"You have the Gulf Stream"},{"speaker":"Average Joe Finances","startTime":457.234,"endTime":458.944,"body":"that goes right up there."},{"speaker":"Average Joe Finances","startTime":458.944,"endTime":459.064,"body":"Course."},{"speaker":"Average Joe Finances","startTime":459.064,"endTime":459.514,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":459.519,"endTime":459.604,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":459.609,"endTime":460.71,"body":"So that helps out as well."},{"speaker":"Matthew Sullivan","startTime":460.715,"endTime":461.97,"body":"That"},{"speaker":"Matthew Sullivan","startTime":460.715,"endTime":461.97,"body":"brings all more though."},{"speaker":"Matthew Sullivan","startTime":461.97,"endTime":462.06,"body":"Yes."},{"speaker":"Average Joe Finances","startTime":462.09,"endTime":462.45,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":463.14,"endTime":465.591,"body":", I don't know why it took so"},{"speaker":"Average Joe Finances","startTime":463.14,"endTime":465.591,"body":"long to pull that out, but"},{"speaker":"Matthew Sullivan","startTime":465.646,"endTime":466.686,"body":"you have"},{"speaker":"Matthew Sullivan","startTime":465.646,"endTime":466.686,"body":"the power of the edit."},{"speaker":"Average Joe Finances","startTime":467.366,"endTime":467.686,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":468.246,"endTime":470.682,"body":". I want, I wanna, I'm probably gonna"},{"speaker":"Average Joe Finances","startTime":468.246,"endTime":470.682,"body":"leave all that in because that's"},{"speaker":"Average Joe Finances","startTime":470.682,"endTime":471.932,"body":"important, for the episode here."},{"speaker":"Matthew Sullivan","startTime":471.992,"endTime":472.082,"body":"Yes."},{"speaker":"Average Joe Finances","startTime":472.112,"endTime":473.661,"body":"But I wanna"},{"speaker":"Average Joe Finances","startTime":472.112,"endTime":473.661,"body":"pull something out that you had"},{"speaker":"Average Joe Finances","startTime":473.661,"endTime":476.877,"body":"mentioned earlier about, some of"},{"speaker":"Average Joe Finances","startTime":473.661,"endTime":476.877,"body":"the differences you experienced."},{"speaker":"Average Joe Finances","startTime":477.487,"endTime":479.617,"body":"and that was with people"},{"speaker":"Average Joe Finances","startTime":477.487,"endTime":479.617,"body":"fulfilling their promises."},{"speaker":"Average Joe Finances","startTime":479.617,"endTime":485.035,"body":"Now have you found that a lot in"},{"speaker":"Average Joe Finances","startTime":479.617,"endTime":485.035,"body":"the real estate side since, getting"},{"speaker":"Average Joe Finances","startTime":485.04,"endTime":489.038,"body":"started in investing in real estate"},{"speaker":"Average Joe Finances","startTime":485.04,"endTime":489.038,"body":"since you've come to the United States?"},{"speaker":"Matthew Sullivan","startTime":489.262,"endTime":491.132,"body":"No more"},{"speaker":"Matthew Sullivan","startTime":489.262,"endTime":491.132,"body":"than any other business."},{"speaker":"Matthew Sullivan","startTime":491.161,"endTime":495.253,"body":"And I think people labor under the"},{"speaker":"Matthew Sullivan","startTime":491.161,"endTime":495.253,"body":"misapprehension that because they"},{"speaker":"Matthew Sullivan","startTime":495.253,"endTime":499.423,"body":"live in a house which is real estate,"},{"speaker":"Matthew Sullivan","startTime":495.253,"endTime":499.423,"body":"they understand what real estate is."},{"speaker":"Matthew Sullivan","startTime":499.783,"endTime":506.642,"body":"So you get many people don't really"},{"speaker":"Matthew Sullivan","startTime":499.783,"endTime":506.642,"body":"approach real estate as a business, and"},{"speaker":"Matthew Sullivan","startTime":506.642,"endTime":511.172,"body":"because of that, they suffer the same"},{"speaker":"Matthew Sullivan","startTime":506.642,"endTime":511.172,"body":"consequences as anybody that doesn't"},{"speaker":"Matthew Sullivan","startTime":511.172,"endTime":512.792,"body":"approach their business as a business."},{"speaker":"Matthew Sullivan","startTime":513.122,"endTime":518.627,"body":"So it's not really specifically related"},{"speaker":"Matthew Sullivan","startTime":513.122,"endTime":518.627,"body":"to real estate as such, but you tend to"},{"speaker":"Matthew Sullivan","startTime":518.627,"endTime":523.606,"body":"get more people that are, self-appointed"},{"speaker":"Matthew Sullivan","startTime":518.627,"endTime":523.606,"body":"experts in real estate because, people"},{"speaker":"Matthew Sullivan","startTime":523.606,"endTime":525.856,"body":"understand the concept of what a house is."},{"speaker":"Matthew Sullivan","startTime":525.923,"endTime":529.362,"body":"You get fewer people that are"},{"speaker":"Matthew Sullivan","startTime":525.923,"endTime":529.362,"body":"self-appointed neurological experts"},{"speaker":"Matthew Sullivan","startTime":529.392,"endTime":531.119,"body":"because, brain surgery is harder."},{"speaker":"Matthew Sullivan","startTime":531.257,"endTime":535.844,"body":"And so because of that, you come"},{"speaker":"Matthew Sullivan","startTime":531.257,"endTime":535.844,"body":"across more people that have"},{"speaker":"Matthew Sullivan","startTime":535.844,"endTime":537.622,"body":"their views about real estate."},{"speaker":"Matthew Sullivan","startTime":537.622,"endTime":542.018,"body":"And it's, you have to sift through"},{"speaker":"Matthew Sullivan","startTime":537.622,"endTime":542.018,"body":"those people that feel that it's an"},{"speaker":"Matthew Sullivan","startTime":542.048,"endTime":547.333,"body":"easy choice because it's something that"},{"speaker":"Matthew Sullivan","startTime":542.048,"endTime":547.333,"body":"conceptually is more understandable than"},{"speaker":"Matthew Sullivan","startTime":547.338,"endTime":548.593,"body":"some of the other business opportunities."},{"speaker":"Average Joe Finances","startTime":549.808,"endTime":552.338,"body":"All right, so"},{"speaker":"Average Joe Finances","startTime":549.808,"endTime":552.338,"body":"let's, Matthew, let's talk about some"},{"speaker":"Average Joe Finances","startTime":552.338,"endTime":554.768,"body":"of the things people should understand"},{"speaker":"Average Joe Finances","startTime":552.338,"endTime":554.768,"body":"about real estate, specifically"},{"speaker":"Average Joe Finances","startTime":554.768,"endTime":555.928,"body":"with what you do with QuantmRE."},{"speaker":"Average Joe Finances","startTime":555.969,"endTime":560.66,"body":"And that is, being able to make"},{"speaker":"Average Joe Finances","startTime":555.969,"endTime":560.66,"body":"home equity accessible, right?"},{"speaker":"Average Joe Finances","startTime":560.66,"endTime":564.83,"body":"Because I feel like a lot of people"},{"speaker":"Average Joe Finances","startTime":560.66,"endTime":564.83,"body":"sit on their homes literally and"},{"speaker":"Average Joe Finances","startTime":564.83,"endTime":568.819,"body":"figuratively and they have this"},{"speaker":"Average Joe Finances","startTime":564.83,"endTime":568.819,"body":"equity that's just sitting there doing"},{"speaker":"Average Joe Finances","startTime":568.819,"endTime":572.986,"body":"nothing and they, they find themselves"},{"speaker":"Average Joe Finances","startTime":568.819,"endTime":572.986,"body":"being like, house rich and cash poor."},{"speaker":"Average Joe Finances","startTime":572.986,"endTime":575.689,"body":"So what is, what does that mean"},{"speaker":"Average Joe Finances","startTime":572.986,"endTime":575.689,"body":"to you when you see somebody"},{"speaker":"Average Joe Finances","startTime":575.689,"endTime":576.569,"body":"in a situation like that?"},{"speaker":"Matthew Sullivan","startTime":576.569,"endTime":580.449,"body":"It's an opportunity"},{"speaker":"Matthew Sullivan","startTime":576.569,"endTime":580.449,"body":"and it's an opportunity to solve"},{"speaker":"Matthew Sullivan","startTime":580.449,"endTime":583.839,"body":"a very large problem because I"},{"speaker":"Matthew Sullivan","startTime":580.449,"endTime":583.839,"body":"think it is actually a problem."},{"speaker":"Matthew Sullivan","startTime":584.349,"endTime":591.339,"body":"And the problem is that there is over"},{"speaker":"Matthew Sullivan","startTime":584.349,"endTime":591.339,"body":"25 trillion worth of equity in people's"},{"speaker":"Matthew Sullivan","startTime":591.339,"endTime":595.329,"body":"homes now, which is the highest level"},{"speaker":"Matthew Sullivan","startTime":591.339,"endTime":595.329,"body":"it has ever been in the history of man."},{"speaker":"Matthew Sullivan","startTime":595.378,"endTime":596.848,"body":"And there are a number of reasons."},{"speaker":"Matthew Sullivan","startTime":596.848,"endTime":599.969,"body":"I think we've all, we all understand"},{"speaker":"Matthew Sullivan","startTime":596.848,"endTime":599.969,"body":"that house prices have rocketed up over"},{"speaker":"Matthew Sullivan","startTime":599.969,"endTime":603.969,"body":"the last, couple of years in particular,"},{"speaker":"Matthew Sullivan","startTime":599.969,"endTime":603.969,"body":"but it's a problem because most people's"},{"speaker":"Matthew Sullivan","startTime":603.969,"endTime":606.349,"body":"wealth is tied up in their home."},{"speaker":"Matthew Sullivan","startTime":606.349,"endTime":610.057,"body":"And there are all sorts of statistics"},{"speaker":"Matthew Sullivan","startTime":606.349,"endTime":610.057,"body":"around this, but the issue is"},{"speaker":"Matthew Sullivan","startTime":610.057,"endTime":611.497,"body":"you can't get your hands on it."},{"speaker":"Matthew Sullivan","startTime":611.497,"endTime":613.657,"body":"So it's an illiquid asset."},{"speaker":"Matthew Sullivan","startTime":613.687,"endTime":617.917,"body":"It's not tradeable, you can't spend"},{"speaker":"Matthew Sullivan","startTime":613.687,"endTime":617.917,"body":"your home equity at the supermarket"},{"speaker":"Matthew Sullivan","startTime":618.667,"endTime":624.177,"body":"and in order to get your hands on it,"},{"speaker":"Matthew Sullivan","startTime":618.667,"endTime":624.177,"body":"You have to borrow money and secure"},{"speaker":"Matthew Sullivan","startTime":624.177,"endTime":625.911,"body":"that loan against your real estate."},{"speaker":"Matthew Sullivan","startTime":625.911,"endTime":630.111,"body":"So you have to go deeper into"},{"speaker":"Matthew Sullivan","startTime":625.911,"endTime":630.111,"body":"debt to be able to get access"},{"speaker":"Matthew Sullivan","startTime":630.111,"endTime":631.371,"body":"to something that's yours."},{"speaker":"Matthew Sullivan","startTime":631.761,"endTime":635.483,"body":"And there's a whole process, as we all"},{"speaker":"Matthew Sullivan","startTime":631.761,"endTime":635.483,"body":"know that is involved in borrowing money."},{"speaker":"Matthew Sullivan","startTime":635.488,"endTime":637.853,"body":"And it's harder than"},{"speaker":"Matthew Sullivan","startTime":635.488,"endTime":637.853,"body":"ever to borrow money now."},{"speaker":"Matthew Sullivan","startTime":637.853,"endTime":641.803,"body":"And if in fact, you, people who were the"},{"speaker":"Matthew Sullivan","startTime":637.853,"endTime":641.803,"body":"statistics, the amount of mortgage lending"},{"speaker":"Matthew Sullivan","startTime":641.833,"endTime":644.219,"body":"is now at its lowest level in decades."},{"speaker":"Matthew Sullivan","startTime":644.519,"endTime":646.199,"body":"So the problem is for homeowner."},{"speaker":"Matthew Sullivan","startTime":646.884,"endTime":649.314,"body":"Significant wealth that's"},{"speaker":"Matthew Sullivan","startTime":646.884,"endTime":649.314,"body":"trapped in their home."},{"speaker":"Matthew Sullivan","startTime":650.274,"endTime":654.264,"body":"The opportunity really is to"},{"speaker":"Matthew Sullivan","startTime":650.274,"endTime":654.264,"body":"find a solution or to provide a"},{"speaker":"Matthew Sullivan","startTime":654.784,"endTime":657.466,"body":"solution to homeowners to give"},{"speaker":"Matthew Sullivan","startTime":654.784,"endTime":657.466,"body":"them access to their home equity."},{"speaker":"Matthew Sullivan","startTime":657.466,"endTime":660.472,"body":"And that also creates"},{"speaker":"Matthew Sullivan","startTime":657.466,"endTime":660.472,"body":"opportunities for investors."},{"speaker":"Matthew Sullivan","startTime":660.502,"endTime":664.356,"body":"So that's really, what we do at Quantm"},{"speaker":"Matthew Sullivan","startTime":660.502,"endTime":664.356,"body":"is we blend those two together, we"},{"speaker":"Matthew Sullivan","startTime":664.361,"endTime":670.776,"body":"enable homeowners to get liquidity, and"},{"speaker":"Matthew Sullivan","startTime":664.361,"endTime":670.776,"body":"we enable investors who provide that"},{"speaker":"Matthew Sullivan","startTime":670.776,"endTime":676.386,"body":"liquidity to be able to benefit from some"},{"speaker":"Matthew Sullivan","startTime":670.776,"endTime":676.386,"body":"of the potential upside that comes from"},{"speaker":"Matthew Sullivan","startTime":676.386,"endTime":678.966,"body":"investing in the equity in people's homes."},{"speaker":"Average Joe Finances","startTime":680.201,"endTime":680.751,"body":"I like that."},{"speaker":"Average Joe Finances","startTime":680.751,"endTime":683.274,"body":"So I'd like to know,"},{"speaker":"Average Joe Finances","startTime":680.751,"endTime":683.274,"body":"like, how do you do that?"},{"speaker":"Average Joe Finances","startTime":683.274,"endTime":686.917,"body":"Because I personally have taken"},{"speaker":"Average Joe Finances","startTime":683.274,"endTime":686.917,"body":"out a HELOC right, to pull equity"},{"speaker":"Average Joe Finances","startTime":686.922,"endTime":690.787,"body":"outta my home, and I've used it"},{"speaker":"Average Joe Finances","startTime":686.922,"endTime":690.787,"body":"to buy more real estate, right?"},{"speaker":"Average Joe Finances","startTime":690.792,"endTime":693.817,"body":"So I didn't, I, I didn't want"},{"speaker":"Average Joe Finances","startTime":690.792,"endTime":693.817,"body":"my equity just sitting there."},{"speaker":"Average Joe Finances","startTime":693.817,"endTime":696.621,"body":"So that was a strategy that"},{"speaker":"Average Joe Finances","startTime":693.817,"endTime":696.621,"body":"I used to purchase more real"},{"speaker":"Average Joe Finances","startTime":696.621,"endTime":698.031,"body":"estate by using my equity."},{"speaker":"Average Joe Finances","startTime":698.271,"endTime":701.245,"body":"Now, from what I understand QuantmRE"},{"speaker":"Average Joe Finances","startTime":698.271,"endTime":701.245,"body":"does a little bit different."},{"speaker":"Average Joe Finances","startTime":701.245,"endTime":703.413,"body":"It's you guys do home"},{"speaker":"Average Joe Finances","startTime":701.245,"endTime":703.413,"body":"equity agreements right now."},{"speaker":"Average Joe Finances","startTime":703.441,"endTime":704.291,"body":"How does that work?"},{"speaker":"Matthew Sullivan","startTime":704.424,"endTime":708.509,"body":"It's very similar"},{"speaker":"Matthew Sullivan","startTime":704.424,"endTime":708.509,"body":"in terms of the outcome of a HELOC."},{"speaker":"Matthew Sullivan","startTime":708.699,"endTime":711.081,"body":"In other words, what it does"},{"speaker":"Matthew Sullivan","startTime":708.699,"endTime":711.081,"body":"is it enables you to get"},{"speaker":"Matthew Sullivan","startTime":711.081,"endTime":713.331,"body":"liquidity from your home equity."},{"speaker":"Matthew Sullivan","startTime":713.751,"endTime":718.766,"body":"Now, a HELOC is a loan in by any other"},{"speaker":"Matthew Sullivan","startTime":713.751,"endTime":718.766,"body":"name, but it's slightly different to"},{"speaker":"Matthew Sullivan","startTime":718.771,"endTime":723.028,"body":"most other loans because it's a line of"},{"speaker":"Matthew Sullivan","startTime":718.771,"endTime":723.028,"body":"credit, which means that when you get"},{"speaker":"Matthew Sullivan","startTime":723.028,"endTime":727.209,"body":"your home equity line of credit or your"},{"speaker":"Matthew Sullivan","startTime":723.028,"endTime":727.209,"body":"HELOC to start with, you are just paying"},{"speaker":"Matthew Sullivan","startTime":727.209,"endTime":729.519,"body":"the interest on what you've drawn down."},{"speaker":"Matthew Sullivan","startTime":729.819,"endTime":733.488,"body":"But then after a period of time, which is"},{"speaker":"Matthew Sullivan","startTime":729.819,"endTime":733.488,"body":"normally 10 years, it then changes over to"},{"speaker":"Matthew Sullivan","startTime":733.488,"endTime":736.876,"body":"being a fully amortizing loan so you don't"},{"speaker":"Matthew Sullivan","startTime":733.488,"endTime":736.876,"body":"have to start paying the principle down."},{"speaker":"Matthew Sullivan","startTime":737.446,"endTime":739.351,"body":"But in any case it's a loan."},{"speaker":"Matthew Sullivan","startTime":739.471,"endTime":742.506,"body":"So you've got to meet those"},{"speaker":"Matthew Sullivan","startTime":739.471,"endTime":742.506,"body":"monthly payments and your case."},{"speaker":"Matthew Sullivan","startTime":742.506,"endTime":746.316,"body":"If you are borrowing money against"},{"speaker":"Matthew Sullivan","startTime":742.506,"endTime":746.316,"body":"your home, you've got to find that"},{"speaker":"Matthew Sullivan","startTime":746.316,"endTime":750.54,"body":"extra few hundred or whatever it is,"},{"speaker":"Matthew Sullivan","startTime":746.316,"endTime":750.54,"body":"dollars a month to service that loan."},{"speaker":"Matthew Sullivan","startTime":750.84,"endTime":753.87,"body":"Now, if you don't find that, let's say"},{"speaker":"Matthew Sullivan","startTime":750.84,"endTime":753.87,"body":"the investment that you put your money"},{"speaker":"Matthew Sullivan","startTime":753.87,"endTime":758.34,"body":"in didn't go as according to plan, you"},{"speaker":"Matthew Sullivan","startTime":753.87,"endTime":758.34,"body":"are then at risk because you've got"},{"speaker":"Matthew Sullivan","startTime":758.34,"endTime":759.96,"body":"that additional lending on your home."},{"speaker":"Matthew Sullivan","startTime":760.32,"endTime":762.36,"body":"So you've got all the risks"},{"speaker":"Matthew Sullivan","startTime":760.32,"endTime":762.36,"body":"that go with any loan."},{"speaker":"Matthew Sullivan","startTime":763.38,"endTime":766.86,"body":"Our programs are very different"},{"speaker":"Matthew Sullivan","startTime":763.38,"endTime":766.86,"body":"because we invest money."},{"speaker":"Matthew Sullivan","startTime":766.865,"endTime":768.12,"body":"We don't lend money."},{"speaker":"Matthew Sullivan","startTime":768.66,"endTime":775.02,"body":"What we say to the homeowner is in"},{"speaker":"Matthew Sullivan","startTime":768.66,"endTime":775.02,"body":"exchange for a pre-agreed share of"},{"speaker":"Matthew Sullivan","startTime":775.26,"endTime":780.87,"body":"the future value of your property,"},{"speaker":"Matthew Sullivan","startTime":775.26,"endTime":780.87,"body":"we'll give you cash today representing"},{"speaker":"Matthew Sullivan","startTime":780.93,"endTime":782.84,"body":"a share of the current value."},{"speaker":"Matthew Sullivan","startTime":783.36,"endTime":787.679,"body":"So what we do is we build in a discount"},{"speaker":"Matthew Sullivan","startTime":783.36,"endTime":787.679,"body":"between those two figures and we agree"},{"speaker":"Matthew Sullivan","startTime":787.7,"endTime":789.17,"body":"that those figures were the homeowner."},{"speaker":"Matthew Sullivan","startTime":789.47,"endTime":793.19,"body":"But what we do effectively is have an"},{"speaker":"Matthew Sullivan","startTime":789.47,"endTime":793.19,"body":"agreement that says at some point in the"},{"speaker":"Matthew Sullivan","startTime":793.19,"endTime":799.265,"body":"future, which is normally 10 years, by"},{"speaker":"Matthew Sullivan","startTime":793.19,"endTime":799.265,"body":"then you will owe us and agree percentage"},{"speaker":"Matthew Sullivan","startTime":799.265,"endTime":802.355,"body":"of the value of your property, whatever"},{"speaker":"Matthew Sullivan","startTime":799.265,"endTime":802.355,"body":"the value of your property is at that"},{"speaker":"Matthew Sullivan","startTime":802.355,"endTime":806.585,"body":"point, it may go up, it may go down,"},{"speaker":"Matthew Sullivan","startTime":802.355,"endTime":806.585,"body":"and in the meantime, we'll buy that"},{"speaker":"Matthew Sullivan","startTime":806.585,"endTime":812.195,"body":"right from you in exchange for a cash"},{"speaker":"Matthew Sullivan","startTime":806.585,"endTime":812.195,"body":"lump sum that represents a percentage"},{"speaker":"Matthew Sullivan","startTime":812.195,"endTime":813.635,"body":"of the current value of your property."},{"speaker":"Matthew Sullivan","startTime":813.905,"endTime":816.82,"body":"So you are selling us some of"},{"speaker":"Matthew Sullivan","startTime":813.905,"endTime":816.82,"body":"the future value at a discount."},{"speaker":"Matthew Sullivan","startTime":816.82,"endTime":821.8,"body":"Now, because it's a sale as opposed to a"},{"speaker":"Matthew Sullivan","startTime":816.82,"endTime":821.8,"body":"loan, you don't have any servicing costs."},{"speaker":"Matthew Sullivan","startTime":822.13,"endTime":825.19,"body":"So if your business opportunity"},{"speaker":"Matthew Sullivan","startTime":822.13,"endTime":825.19,"body":"or your stock or your investments"},{"speaker":"Matthew Sullivan","startTime":825.61,"endTime":829.24,"body":"don't perform as you hoped, you"},{"speaker":"Matthew Sullivan","startTime":825.61,"endTime":829.24,"body":"haven't got that additional burden."},{"speaker":"Matthew Sullivan","startTime":829.28,"endTime":833.616,"body":"And in addition to that, there's no"},{"speaker":"Matthew Sullivan","startTime":829.28,"endTime":833.616,"body":"impact on your credit report, it's a very"},{"speaker":"Matthew Sullivan","startTime":833.616,"endTime":835.496,"body":"tax efficient way of, raising capital."},{"speaker":"Matthew Sullivan","startTime":835.676,"endTime":837.81,"body":"There are a number of different benefits."},{"speaker":"Matthew Sullivan","startTime":837.81,"endTime":841.17,"body":"And the most important point"},{"speaker":"Matthew Sullivan","startTime":837.81,"endTime":841.17,"body":"though is that this program is"},{"speaker":"Matthew Sullivan","startTime":841.17,"endTime":845.353,"body":"accessible to people that otherwise"},{"speaker":"Matthew Sullivan","startTime":841.17,"endTime":845.353,"body":"would not qualify for a loan."},{"speaker":"Matthew Sullivan","startTime":845.353,"endTime":849.579,"body":"All those people that would like to get a"},{"speaker":"Matthew Sullivan","startTime":845.353,"endTime":849.579,"body":"heat lock but just get turned down by the"},{"speaker":"Matthew Sullivan","startTime":849.829,"endTime":854.872,"body":"banks home equity agreements in many of"},{"speaker":"Matthew Sullivan","startTime":849.829,"endTime":854.872,"body":"those cases would be an ideal solution."},{"speaker":"Average Joe Finances","startTime":855.069,"endTime":855.349,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":855.349,"endTime":856.353,"body":"Yeah that, that's fair."},{"speaker":"Average Joe Finances","startTime":856.353,"endTime":862.173,"body":"Now, what happens if somebody was to sell"},{"speaker":"Average Joe Finances","startTime":856.353,"endTime":862.173,"body":"their house before that 10 year period?"},{"speaker":"Average Joe Finances","startTime":862.173,"endTime":866.583,"body":"Let's say they do a home equity agreement"},{"speaker":"Average Joe Finances","startTime":862.173,"endTime":866.583,"body":"and they sell their home four or five"},{"speaker":"Average Joe Finances","startTime":866.583,"endTime":868.623,"body":"years later, what does that look like?"},{"speaker":"Average Joe Finances","startTime":868.651,"endTime":870.831,"body":"Would they make their"},{"speaker":"Average Joe Finances","startTime":868.651,"endTime":870.831,"body":"payment back right up front?"},{"speaker":"Matthew Sullivan","startTime":871.118,"endTime":873.248,"body":"No, just at the"},{"speaker":"Matthew Sullivan","startTime":871.118,"endTime":873.248,"body":"point that they sell their home so"},{"speaker":"Matthew Sullivan","startTime":873.428,"endTime":876.248,"body":"it runs for a maximum of 10 years."},{"speaker":"Average Joe Finances","startTime":876.308,"endTime":876.658,"body":"Ok"},{"speaker":"Matthew Sullivan","startTime":876.663,"endTime":879.068,"body":"but you"},{"speaker":"Matthew Sullivan","startTime":876.663,"endTime":879.068,"body":"can pay that off at any time."},{"speaker":"Matthew Sullivan","startTime":879.068,"endTime":882.82,"body":"So it's a bit like a mortgage,"},{"speaker":"Matthew Sullivan","startTime":879.068,"endTime":882.82,"body":"it runs from, for 25 or 30 years."},{"speaker":"Matthew Sullivan","startTime":882.825,"endTime":889.42,"body":"But at any time you can refinance,"},{"speaker":"Matthew Sullivan","startTime":882.825,"endTime":889.42,"body":"you can sell the property, you can buy"},{"speaker":"Matthew Sullivan","startTime":889.42,"endTime":892.15,"body":"us back without prepayment penalties."},{"speaker":"Matthew Sullivan","startTime":892.15,"endTime":893.8,"body":"There's no early payment penalties."},{"speaker":"Matthew Sullivan","startTime":893.895,"endTime":897.105,"body":"And you're free to do that at any point"},{"speaker":"Matthew Sullivan","startTime":893.895,"endTime":897.105,"body":"over the duration of the agreement."},{"speaker":"Average Joe Finances","startTime":898.065,"endTime":898.755,"body":"Okay, awesome."},{"speaker":"Average Joe Finances","startTime":898.755,"endTime":903.165,"body":"Now also with the agreement, are they"},{"speaker":"Average Joe Finances","startTime":898.755,"endTime":903.165,"body":"making a monthly payment or is it, can"},{"speaker":"Average Joe Finances","startTime":903.165,"endTime":905.335,"body":"I pay one lump sum 10 years from now?"},{"speaker":"Matthew Sullivan","startTime":905.366,"endTime":907.106,"body":"No, you"},{"speaker":"Matthew Sullivan","startTime":905.366,"endTime":907.106,"body":"don't make monthly payments."},{"speaker":"Matthew Sullivan","startTime":907.129,"endTime":910.928,"body":"You actually can't because that makes"},{"speaker":"Matthew Sullivan","startTime":907.129,"endTime":910.928,"body":"it feel a little bit like a loan,"},{"speaker":"Matthew Sullivan","startTime":911.048,"endTime":912.398,"body":"which is what we really don't want."},{"speaker":"Average Joe Finances","startTime":912.728,"endTime":912.848,"body":"Okay."},{"speaker":"Matthew Sullivan","startTime":912.853,"endTime":915.062,"body":"So you have to"},{"speaker":"Matthew Sullivan","startTime":912.853,"endTime":915.062,"body":"the payment has to be made in a lump"},{"speaker":"Matthew Sullivan","startTime":915.062,"endTime":919.652,"body":"sum, and it's normally when something"},{"speaker":"Matthew Sullivan","startTime":915.062,"endTime":919.652,"body":"happens, so a trigger event, which could"},{"speaker":"Matthew Sullivan","startTime":919.652,"endTime":925.302,"body":"be when you sell the property or when"},{"speaker":"Matthew Sullivan","startTime":919.652,"endTime":925.302,"body":"the last person on the agreement dies."},{"speaker":"Matthew Sullivan","startTime":925.338,"endTime":930.043,"body":"Or if you decide to refinance, you might,"},{"speaker":"Matthew Sullivan","startTime":925.338,"endTime":930.043,"body":"take out a very low interest rate mortgage"},{"speaker":"Matthew Sullivan","startTime":930.043,"endTime":931.783,"body":"and decide to buy us back at that point."},{"speaker":"Average Joe Finances","startTime":931.946,"endTime":932.546,"body":"Okay, great."},{"speaker":"Average Joe Finances","startTime":932.546,"endTime":935.251,"body":"Yeah that's what I wanted to make"},{"speaker":"Average Joe Finances","startTime":932.546,"endTime":935.251,"body":"sure I understood, because that's"},{"speaker":"Average Joe Finances","startTime":935.251,"endTime":937.441,"body":"actually a pretty lucrative thing."},{"speaker":"Average Joe Finances","startTime":937.441,"endTime":938.731,"body":"Then if someone's gonna look."},{"speaker":"Average Joe Finances","startTime":939.591,"endTime":943.895,"body":"Doing a home equity agreement,"},{"speaker":"Average Joe Finances","startTime":939.591,"endTime":943.895,"body":"because you, you're not adding to"},{"speaker":"Average Joe Finances","startTime":943.895,"endTime":946.175,"body":"your DTI at that very point, right?"},{"speaker":"Average Joe Finances","startTime":946.175,"endTime":949.415,"body":"You're not, creating a monthly"},{"speaker":"Average Joe Finances","startTime":946.175,"endTime":949.415,"body":"payment that you have to make."},{"speaker":"Average Joe Finances","startTime":949.415,"endTime":950.174,"body":"Which is really cool."},{"speaker":"Average Joe Finances","startTime":950.242,"endTime":951.971,"body":"Now does this, obviously"},{"speaker":"Average Joe Finances","startTime":950.242,"endTime":951.971,"body":"it's an agreement, right?"},{"speaker":"Average Joe Finances","startTime":951.971,"endTime":954.161,"body":"So there's gonna be a"},{"speaker":"Average Joe Finances","startTime":951.971,"endTime":954.161,"body":"lean on the home with it?"},{"speaker":"Matthew Sullivan","startTime":954.851,"endTime":955.331,"body":"Exactly."},{"speaker":"Matthew Sullivan","startTime":955.331,"endTime":955.871,"body":"That's right."},{"speaker":"Matthew Sullivan","startTime":955.871,"endTime":955.961,"body":"Yeah."},{"speaker":"Matthew Sullivan","startTime":955.961,"endTime":957.821,"body":"So it is, it's a real estate agreement."},{"speaker":"Matthew Sullivan","startTime":957.821,"endTime":961.491,"body":"It's protected by a lean,  it's"},{"speaker":"Matthew Sullivan","startTime":957.821,"endTime":961.491,"body":"very similar to a deed of trust."},{"speaker":"Matthew Sullivan","startTime":961.491,"endTime":964.221,"body":"The language is almost"},{"speaker":"Matthew Sullivan","startTime":961.491,"endTime":964.221,"body":"identical to a deed of trust."},{"speaker":"Average Joe Finances","startTime":964.671,"endTime":964.911,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":964.911,"endTime":965.121,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":965.211,"endTime":965.691,"body":"Okay, good."},{"speaker":"Average Joe Finances","startTime":965.691,"endTime":967.655,"body":"So that, that, I'm just trying"},{"speaker":"Average Joe Finances","startTime":965.691,"endTime":967.655,"body":"to make sure it makes sense"},{"speaker":"Average Joe Finances","startTime":967.655,"endTime":968.645,"body":"for everybody that's listening."},{"speaker":"Average Joe Finances","startTime":968.945,"endTime":971.09,"body":"I like to explain things"},{"speaker":"Average Joe Finances","startTime":968.945,"endTime":971.09,"body":"I'm a fifth grader."},{"speaker":"Average Joe Finances","startTime":971.119,"endTime":974.582,"body":"Because if I can understand it that way,"},{"speaker":"Average Joe Finances","startTime":971.119,"endTime":974.582,"body":"I know my listeners can understand it."},{"speaker":"Average Joe Finances","startTime":974.622,"endTime":974.892,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":975.162,"endTime":976.122,"body":"This is fantastic."},{"speaker":"Average Joe Finances","startTime":976.122,"endTime":976.355,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":976.355,"endTime":976.685,"body":"Great."},{"speaker":"Average Joe Finances","startTime":978.155,"endTime":979.707,"body":"So I haven't heard of these before."},{"speaker":"Average Joe Finances","startTime":979.737,"endTime":981.093,"body":"So if how long have these been around?"},{"speaker":"Average Joe Finances","startTime":981.123,"endTime":985.612,"body":"Because this is, again, like I, I know"},{"speaker":"Average Joe Finances","startTime":981.123,"endTime":985.612,"body":"about doing HELOCs and I do velocity"},{"speaker":"Average Joe Finances","startTime":985.612,"endTime":989.392,"body":"banking myself with my HELOC, but I"},{"speaker":"Average Joe Finances","startTime":985.612,"endTime":989.392,"body":"haven't heard of this in the past."},{"speaker":"Average Joe Finances","startTime":989.42,"endTime":991.473,"body":"Is QuantmRE the only people doing this?"},{"speaker":"Average Joe Finances","startTime":991.519,"endTime":992.669,"body":"Or like how long has this been going?"},{"speaker":"Matthew Sullivan","startTime":992.719,"endTime":994.579,"body":"They've"},{"speaker":"Matthew Sullivan","startTime":992.719,"endTime":994.579,"body":"been around for over 10 years."},{"speaker":"Matthew Sullivan","startTime":994.666,"endTime":998.859,"body":"The home equity agreement structure"},{"speaker":"Matthew Sullivan","startTime":994.666,"endTime":998.859,"body":"has been around for funny enough,"},{"speaker":"Matthew Sullivan","startTime":998.859,"endTime":1002.729,"body":"it was set up by a company called"},{"speaker":"Matthew Sullivan","startTime":998.859,"endTime":1002.729,"body":"Equity Key who were based out of San"},{"speaker":"Matthew Sullivan","startTime":1002.729,"endTime":1006.978,"body":"Diego, and that was probably about 12"},{"speaker":"Matthew Sullivan","startTime":1002.729,"endTime":1006.978,"body":"plus years ago they were the first."},{"speaker":"Matthew Sullivan","startTime":1007.308,"endTime":1010.931,"body":"And since then about another"},{"speaker":"Matthew Sullivan","startTime":1007.308,"endTime":1010.931,"body":"half a dozen or so companies have"},{"speaker":"Matthew Sullivan","startTime":1010.931,"endTime":1012.161,"body":"started doing the same thing."},{"speaker":"Matthew Sullivan","startTime":1012.161,"endTime":1018.581,"body":"And we estimate about a billion"},{"speaker":"Matthew Sullivan","startTime":1012.161,"endTime":1018.581,"body":"and a half dollars a year is now"},{"speaker":"Matthew Sullivan","startTime":1018.761,"endTime":1022.831,"body":"being invested into home equity"},{"speaker":"Matthew Sullivan","startTime":1018.761,"endTime":1022.831,"body":"agreements or home equity investments."},{"speaker":"Matthew Sullivan","startTime":1022.961,"endTime":1027.507,"body":"And that figure's growing because there's"},{"speaker":"Matthew Sullivan","startTime":1022.961,"endTime":1027.507,"body":"a huge demand from homeowners who want"},{"speaker":"Matthew Sullivan","startTime":1027.507,"endTime":1033.187,"body":"to try and get hold of home equity, but"},{"speaker":"Matthew Sullivan","startTime":1027.507,"endTime":1033.187,"body":"either don't qualify for a loan or simply"},{"speaker":"Matthew Sullivan","startTime":1033.187,"endTime":1034.517,"body":"just don't want to borrow more money."},{"speaker":"Matthew Sullivan","startTime":1034.517,"endTime":1038.163,"body":"And so the reason that most people"},{"speaker":"Matthew Sullivan","startTime":1034.517,"endTime":1038.163,"body":"haven't heard is really because they"},{"speaker":"Matthew Sullivan","startTime":1038.168,"endTime":1042.663,"body":"haven't been around that long, but there"},{"speaker":"Matthew Sullivan","startTime":1038.168,"endTime":1042.663,"body":"are a growing number of companies who"},{"speaker":"Matthew Sullivan","startTime":1042.668,"endTime":1048.733,"body":"are building their businesses in this"},{"speaker":"Matthew Sullivan","startTime":1042.668,"endTime":1048.733,"body":"space because it's such a vast space and"},{"speaker":"Matthew Sullivan","startTime":1048.733,"endTime":1051.047,"body":"it's untapped as an investment class."},{"speaker":"Matthew Sullivan","startTime":1051.347,"endTime":1056.227,"body":"So I mentioned earlier, There's"},{"speaker":"Matthew Sullivan","startTime":1051.347,"endTime":1056.227,"body":"over 25 trillion dollars worth"},{"speaker":"Matthew Sullivan","startTime":1056.227,"endTime":1057.937,"body":"of equity in residential homes."},{"speaker":"Matthew Sullivan","startTime":1057.995,"endTime":1060.399,"body":"Those are the figures from the from Fred."},{"speaker":"Matthew Sullivan","startTime":1060.465,"endTime":1062.501,"body":"And that's as of last year"},{"speaker":"Matthew Sullivan","startTime":1060.465,"endTime":1062.501,"body":"and that's growing, right now."},{"speaker":"Matthew Sullivan","startTime":1062.891,"endTime":1067.511,"body":"So there is, it is an enormous asset"},{"speaker":"Matthew Sullivan","startTime":1062.891,"endTime":1067.511,"body":"class, trillions of dollars of equity"},{"speaker":"Matthew Sullivan","startTime":1067.511,"endTime":1072.869,"body":"that normally as an investor, you cannot"},{"speaker":"Matthew Sullivan","startTime":1067.511,"endTime":1072.869,"body":"get your hands on, so you, it's very"},{"speaker":"Matthew Sullivan","startTime":1072.869,"endTime":1078.989,"body":"difficult, if not impossible to invest"},{"speaker":"Matthew Sullivan","startTime":1072.869,"endTime":1078.989,"body":"in the equity in an owner-occupied home."},{"speaker":"Matthew Sullivan","startTime":1079.079,"endTime":1081.899,"body":"You can go and buy a home, you can"},{"speaker":"Matthew Sullivan","startTime":1079.079,"endTime":1081.899,"body":"buy a property and rent it out,"},{"speaker":"Matthew Sullivan","startTime":1082.469,"endTime":1087.229,"body":"but to be able to participate in"},{"speaker":"Matthew Sullivan","startTime":1082.469,"endTime":1087.229,"body":"the equity and owner-occupied homes"},{"speaker":"Matthew Sullivan","startTime":1087.229,"endTime":1089.719,"body":"is an entirely new asset class."},{"speaker":"Matthew Sullivan","startTime":1089.795,"endTime":1093.85,"body":"So it's very interesting for"},{"speaker":"Matthew Sullivan","startTime":1089.795,"endTime":1093.85,"body":"investors, and it's also very"},{"speaker":"Matthew Sullivan","startTime":1093.85,"endTime":1097.69,"body":"important for homeowners because"},{"speaker":"Matthew Sullivan","startTime":1093.85,"endTime":1097.69,"body":"it solves a real problem that many"},{"speaker":"Matthew Sullivan","startTime":1097.69,"endTime":1101.5,"body":"people have who are, as you said"},{"speaker":"Matthew Sullivan","startTime":1097.69,"endTime":1101.5,"body":"earlier, house rich and cash poor."},{"speaker":"Average Joe Finances","startTime":1101.617,"endTime":1101.797,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1101.874,"endTime":1105.742,"body":"Matthew as you brought it up earlier too"},{"speaker":"Average Joe Finances","startTime":1101.874,"endTime":1105.742,"body":"you had mentioned that right now it's"},{"speaker":"Average Joe Finances","startTime":1105.742,"endTime":1109.735,"body":"estimated, what about half a billion"},{"speaker":"Average Joe Finances","startTime":1105.742,"endTime":1109.735,"body":"a year is going into this industry?"},{"speaker":"Matthew Sullivan","startTime":1109.855,"endTime":1111.925,"body":"No, I'd say"},{"speaker":"Matthew Sullivan","startTime":1109.855,"endTime":1111.925,"body":"about, I'd say about one and a half."},{"speaker":"Matthew Sullivan","startTime":1111.93,"endTime":1112.676,"body":"About one and a half."},{"speaker":"Average Joe Finances","startTime":1112.676,"endTime":1113.085,"body":"Oh,"},{"speaker":"Average Joe Finances","startTime":1112.676,"endTime":1113.085,"body":"one and a half billion."},{"speaker":"Average Joe Finances","startTime":1113.085,"endTime":1113.365,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1113.365,"endTime":1114.055,"body":"One and a half billion."},{"speaker":"Average Joe Finances","startTime":1114.445,"endTime":1118.262,"body":"And like you said earlier too, like"},{"speaker":"Average Joe Finances","startTime":1114.445,"endTime":1118.262,"body":"it's what 25 trillion of untapped"},{"speaker":"Average Joe Finances","startTime":1118.262,"endTime":1122.912,"body":"equity in homes in the United States"},{"speaker":"Average Joe Finances","startTime":1118.262,"endTime":1122.912,"body":"right now is that's just the US right?"},{"speaker":"Average Joe Finances","startTime":1122.912,"endTime":1124.052,"body":"That's not worldwide."},{"speaker":"Average Joe Finances","startTime":1124.052,"endTime":1124.652,"body":"That's just the US"},{"speaker":"Matthew Sullivan","startTime":1124.652,"endTime":1125.072,"body":"Absolutely."},{"speaker":"Matthew Sullivan","startTime":1125.972,"endTime":1126.572,"body":", just the US."},{"speaker":"Matthew Sullivan","startTime":1126.572,"endTime":1126.782,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":1126.842,"endTime":1129.002,"body":"that is an insane number."},{"speaker":"Average Joe Finances","startTime":1129.002,"endTime":1130.53,"body":"That's a lot of zeros people."},{"speaker":"Average Joe Finances","startTime":1130.53,"endTime":1130.872,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1130.926,"endTime":1133.918,"body":"And if this is only at one and a"},{"speaker":"Average Joe Finances","startTime":1130.926,"endTime":1133.918,"body":"half billion, you could probably"},{"speaker":"Average Joe Finances","startTime":1133.923,"endTime":1138.218,"body":"expect some more massive growth as"},{"speaker":"Average Joe Finances","startTime":1133.923,"endTime":1138.218,"body":"the word gets out about what this"},{"speaker":"Average Joe Finances","startTime":1138.278,"endTime":1141.558,"body":"program is, cause you know, sure."},{"speaker":"Average Joe Finances","startTime":1141.574,"endTime":1144.454,"body":"There's always been people that have"},{"speaker":"Average Joe Finances","startTime":1141.574,"endTime":1144.454,"body":"invested in real estate, but over the"},{"speaker":"Average Joe Finances","startTime":1144.454,"endTime":1147.424,"body":"last couple years, especially during"},{"speaker":"Average Joe Finances","startTime":1144.454,"endTime":1147.424,"body":"the pandemic, there's been a lot of"},{"speaker":"Average Joe Finances","startTime":1147.424,"endTime":1150.724,"body":"people that were sitting around at"},{"speaker":"Average Joe Finances","startTime":1147.424,"endTime":1150.724,"body":"home doing some research and stuff"},{"speaker":"Average Joe Finances","startTime":1150.724,"endTime":1152.194,"body":"and got into real estate investing."},{"speaker":"Average Joe Finances","startTime":1152.216,"endTime":1154.376,"body":"And they were like, this is"},{"speaker":"Average Joe Finances","startTime":1152.216,"endTime":1154.376,"body":"something I'll wanna do on the side."},{"speaker":"Average Joe Finances","startTime":1154.376,"endTime":1157.112,"body":"And a lot of people try to figure"},{"speaker":"Average Joe Finances","startTime":1154.376,"endTime":1157.112,"body":"out like I don't know where I'm"},{"speaker":"Average Joe Finances","startTime":1157.112,"endTime":1158.492,"body":"gonna get the capital from to invest."},{"speaker":"Average Joe Finances","startTime":1158.492,"endTime":1160.725,"body":"I don't know what I'm gonna"},{"speaker":"Average Joe Finances","startTime":1158.492,"endTime":1160.725,"body":"do, to buy my next property."},{"speaker":"Average Joe Finances","startTime":1160.822,"endTime":1163.012,"body":"I own my home, but I don't"},{"speaker":"Average Joe Finances","startTime":1160.822,"endTime":1163.012,"body":"know what else to do."},{"speaker":"Average Joe Finances","startTime":1163.592,"endTime":1167.918,"body":"Now for me, I tapped into my equity by"},{"speaker":"Average Joe Finances","startTime":1163.592,"endTime":1167.918,"body":"using a HELOC to buy more real estate."},{"speaker":"Average Joe Finances","startTime":1168.278,"endTime":1174.061,"body":"This is just like another avenue,"},{"speaker":"Average Joe Finances","startTime":1168.278,"endTime":1174.061,"body":"another opportunity to collect, on your"},{"speaker":"Average Joe Finances","startTime":1174.082,"endTime":1176.47,"body":"equity and go purchase more real estate."},{"speaker":"Average Joe Finances","startTime":1176.47,"endTime":1179.32,"body":"what I like about this is just that"},{"speaker":"Average Joe Finances","startTime":1176.47,"endTime":1179.32,"body":"it adds to your liquidity, right?"},{"speaker":"Average Joe Finances","startTime":1179.47,"endTime":1182.262,"body":"And you had mentioned that word earlier,"},{"speaker":"Average Joe Finances","startTime":1179.47,"endTime":1182.262,"body":"but that is such an important word."},{"speaker":"Average Joe Finances","startTime":1182.262,"endTime":1187.72,"body":"Because when you have illiquid assets it's"},{"speaker":"Average Joe Finances","startTime":1182.262,"endTime":1187.72,"body":"difficult to use that towards anything"},{"speaker":"Average Joe Finances","startTime":1187.769,"endTime":1189.698,"body":"that that you can invest further into."},{"speaker":"Average Joe Finances","startTime":1189.752,"endTime":1193.457,"body":"You can't just say, okay, I've"},{"speaker":"Average Joe Finances","startTime":1189.752,"endTime":1193.457,"body":"got 400,000 in equity in my home,"},{"speaker":"Average Joe Finances","startTime":1193.457,"endTime":1197.033,"body":"so I'm gonna go purchase, oh, I"},{"speaker":"Average Joe Finances","startTime":1193.457,"endTime":1197.033,"body":"found this really great deal for"},{"speaker":"Average Joe Finances","startTime":1197.033,"endTime":1198.843,"body":"200,000 oh, how am I gonna get that?"},{"speaker":"Average Joe Finances","startTime":1198.873,"endTime":1201.431,"body":"Oh, I gotta do a cash out"},{"speaker":"Average Joe Finances","startTime":1198.873,"endTime":1201.431,"body":"refinance and this and that."},{"speaker":"Average Joe Finances","startTime":1201.436,"endTime":1203.854,"body":"I don't even know if I can get approved"},{"speaker":"Average Joe Finances","startTime":1201.436,"endTime":1203.854,"body":"for the loan gotta go take out a HELOC."},{"speaker":"Average Joe Finances","startTime":1204.214,"endTime":1207.774,"body":"Oh but the bank said my, my credit"},{"speaker":"Average Joe Finances","startTime":1204.214,"endTime":1207.774,"body":"score's too low because of whatever."},{"speaker":"Average Joe Finances","startTime":1208.254,"endTime":1210.054,"body":"and now I can't get the"},{"speaker":"Average Joe Finances","startTime":1208.254,"endTime":1210.054,"body":"HELOC, oh, what do I do?"},{"speaker":"Average Joe Finances","startTime":1210.094,"endTime":1215.208,"body":"So this is just another avenue for"},{"speaker":"Average Joe Finances","startTime":1210.094,"endTime":1215.208,"body":"someone to Yeah, no, I like that."},{"speaker":"Matthew Sullivan","startTime":1215.258,"endTime":1218.138,"body":"And the important"},{"speaker":"Matthew Sullivan","startTime":1215.258,"endTime":1218.138,"body":"point again, that you mentioned about"},{"speaker":"Matthew Sullivan","startTime":1218.588,"endTime":1222.098,"body":"not appearing on your credit report is"},{"speaker":"Matthew Sullivan","startTime":1218.588,"endTime":1222.098,"body":"that credit report is very important"},{"speaker":"Matthew Sullivan","startTime":1222.103,"endTime":1226.551,"body":"because for people that are, That have,"},{"speaker":"Matthew Sullivan","startTime":1222.103,"endTime":1226.551,"body":"there's a lot of people that have run up"},{"speaker":"Matthew Sullivan","startTime":1227.001,"endTime":1231.434,"body":"significant credit card and other types"},{"speaker":"Matthew Sullivan","startTime":1227.001,"endTime":1231.434,"body":"of debt, because, the economy is changing"},{"speaker":"Matthew Sullivan","startTime":1232.004,"endTime":1235.674,"body":"and it's very easy to find yourself in"},{"speaker":"Matthew Sullivan","startTime":1232.004,"endTime":1235.674,"body":"a position where, know, the credit cards"},{"speaker":"Matthew Sullivan","startTime":1235.674,"endTime":1237.605,"body":"suddenly become difficult to pay back."},{"speaker":"Matthew Sullivan","startTime":1237.935,"endTime":1241.685,"body":"We've all done it, but the"},{"speaker":"Matthew Sullivan","startTime":1237.935,"endTime":1241.685,"body":"problem is you're paying 30%"},{"speaker":"Matthew Sullivan","startTime":1241.685,"endTime":1244.685,"body":"a year in many cases for that."},{"speaker":"Matthew Sullivan","startTime":1244.685,"endTime":1249.725,"body":"So if you get to a point which isn't"},{"speaker":"Matthew Sullivan","startTime":1244.685,"endTime":1249.725,"body":"very high, you can find yourself"},{"speaker":"Matthew Sullivan","startTime":1249.725,"endTime":1250.955,"body":"in a position where you are."},{"speaker":"Matthew Sullivan","startTime":1251.81,"endTime":1256.316,"body":"Able to afford the payments to keep"},{"speaker":"Matthew Sullivan","startTime":1251.81,"endTime":1256.316,"body":"yourself, from going backwards."},{"speaker":"Matthew Sullivan","startTime":1256.496,"endTime":1259.016,"body":"You don't pay anything towards"},{"speaker":"Matthew Sullivan","startTime":1256.496,"endTime":1259.016,"body":"the principle that stays the same."},{"speaker":"Matthew Sullivan","startTime":1259.016,"endTime":1262.046,"body":"You're just servicing the credit"},{"speaker":"Matthew Sullivan","startTime":1259.016,"endTime":1262.046,"body":"cards because they're so expensive."},{"speaker":"Matthew Sullivan","startTime":1262.436,"endTime":1265.248,"body":"So a lot of people that we"},{"speaker":"Matthew Sullivan","startTime":1262.436,"endTime":1265.248,"body":"work with are in that position."},{"speaker":"Matthew Sullivan","startTime":1265.253,"endTime":1272.273,"body":"And so for them, we're actually, they're"},{"speaker":"Matthew Sullivan","startTime":1265.253,"endTime":1272.273,"body":"making 30% a year on their, on, on their."},{"speaker":"Matthew Sullivan","startTime":1273.188,"endTime":1276.35,"body":"So just by being able to pay their"},{"speaker":"Matthew Sullivan","startTime":1273.188,"endTime":1276.35,"body":"credit cards off, that's effectively"},{"speaker":"Matthew Sullivan","startTime":1276.35,"endTime":1278.48,"body":"the same as making a 30% return."},{"speaker":"Matthew Sullivan","startTime":1279.38,"endTime":1281.51,"body":"Then you have the people"},{"speaker":"Matthew Sullivan","startTime":1279.38,"endTime":1281.51,"body":"that are looking to invest."},{"speaker":"Matthew Sullivan","startTime":1281.78,"endTime":1283.37,"body":"Now, if you don't have."},{"speaker":"Matthew Sullivan","startTime":1284.075,"endTime":1286.985,"body":"More debt on your personal"},{"speaker":"Matthew Sullivan","startTime":1284.075,"endTime":1286.985,"body":"balance sheet as it were."},{"speaker":"Matthew Sullivan","startTime":1287.195,"endTime":1291.716,"body":"That means that you can probably borrow"},{"speaker":"Matthew Sullivan","startTime":1287.195,"endTime":1291.716,"body":"more money to buy the home because you've"},{"speaker":"Matthew Sullivan","startTime":1291.716,"endTime":1297.146,"body":"got a lower servicing cost and banks"},{"speaker":"Matthew Sullivan","startTime":1291.716,"endTime":1297.146,"body":"looking at small property owners and small"},{"speaker":"Matthew Sullivan","startTime":1297.151,"endTime":1301.166,"body":"portfolio owners are looking at you as an"},{"speaker":"Matthew Sullivan","startTime":1297.151,"endTime":1301.166,"body":"individual as well as you as a business."},{"speaker":"Matthew Sullivan","startTime":1301.406,"endTime":1306.206,"body":"So if you have a lower debt income"},{"speaker":"Matthew Sullivan","startTime":1301.406,"endTime":1306.206,"body":"ratio and more cash, which is exactly"},{"speaker":"Matthew Sullivan","startTime":1306.206,"endTime":1310.316,"body":"what these instruments provide you,"},{"speaker":"Matthew Sullivan","startTime":1306.206,"endTime":1310.316,"body":"then that may give you a wider range"},{"speaker":"Matthew Sullivan","startTime":1310.316,"endTime":1312.486,"body":"of properties that you can invested."},{"speaker":"Average Joe Finances","startTime":1313.806,"endTime":1314.631,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1314.631,"endTime":1318.684,"body":"Because now you have that key word"},{"speaker":"Average Joe Finances","startTime":1314.631,"endTime":1318.684,"body":"we talked about earlier, liquidity."},{"speaker":"Average Joe Finances","startTime":1318.691,"endTime":1321.543,"body":"What are your thoughts on this,"},{"speaker":"Average Joe Finances","startTime":1318.691,"endTime":1321.543,"body":"Matthew, about, home equity agreements?"},{"speaker":"Average Joe Finances","startTime":1321.543,"endTime":1325.323,"body":"Do you think this can be one,"},{"speaker":"Average Joe Finances","startTime":1321.543,"endTime":1325.323,"body":"like the next biggest thing"},{"speaker":"Average Joe Finances","startTime":1325.328,"endTime":1326.463,"body":"in the real estate industry?"},{"speaker":"Average Joe Finances","startTime":1328.173,"endTime":1331.113,"body":"Because I'm getting excited just having"},{"speaker":"Average Joe Finances","startTime":1328.173,"endTime":1331.113,"body":"this conversation with you about it."},{"speaker":"Average Joe Finances","startTime":1331.213,"endTime":1332.533,"body":"I think it's, I think it's pretty cool."},{"speaker":"Matthew Sullivan","startTime":1332.55,"endTime":1335.666,"body":"I think the answer"},{"speaker":"Matthew Sullivan","startTime":1332.55,"endTime":1335.666,"body":"is yes, and I, and that is based on."},{"speaker":"Matthew Sullivan","startTime":1336.116,"endTime":1339.882,"body":"A number of key factors in, in terms"},{"speaker":"Matthew Sullivan","startTime":1336.116,"endTime":1339.882,"body":"of the proof behind that answer."},{"speaker":"Matthew Sullivan","startTime":1339.882,"endTime":1343.617,"body":"The critical things that make this"},{"speaker":"Matthew Sullivan","startTime":1339.882,"endTime":1343.617,"body":"happen is it solving a real problem?"},{"speaker":"Matthew Sullivan","startTime":1343.647,"endTime":1345.537,"body":"And I think the answer is category yes."},{"speaker":"Matthew Sullivan","startTime":1345.602,"endTime":1347.691,"body":"Is there a ready market for it?"},{"speaker":"Matthew Sullivan","startTime":1347.691,"endTime":1348.06,"body":"And there are."},{"speaker":"Matthew Sullivan","startTime":1348.085,"endTime":1352.765,"body":"Mil, tens of millions of homes where"},{"speaker":"Matthew Sullivan","startTime":1348.085,"endTime":1352.765,"body":"the homeowners are equity rich."},{"speaker":"Matthew Sullivan","startTime":1352.765,"endTime":1356.965,"body":"And what that means is that they"},{"speaker":"Matthew Sullivan","startTime":1352.765,"endTime":1356.965,"body":"have 50% or more home equity."},{"speaker":"Matthew Sullivan","startTime":1356.986,"endTime":1358.658,"body":"Liquidity is a major challenge."},{"speaker":"Matthew Sullivan","startTime":1358.748,"endTime":1360.308,"body":"So I think we're all agreed on that."},{"speaker":"Matthew Sullivan","startTime":1360.668,"endTime":1361.838,"body":"And this solves."},{"speaker":"Matthew Sullivan","startTime":1362.498,"endTime":1364.448,"body":"That problem for a wide range of people."},{"speaker":"Matthew Sullivan","startTime":1364.658,"endTime":1366.248,"body":"It's not for everyone."},{"speaker":"Matthew Sullivan","startTime":1366.344,"endTime":1370.274,"body":"It is less expensive to borrow"},{"speaker":"Matthew Sullivan","startTime":1366.344,"endTime":1370.274,"body":"money through a HELOC or a cashout"},{"speaker":"Matthew Sullivan","startTime":1370.274,"endTime":1374.654,"body":"refinance, but for those people"},{"speaker":"Matthew Sullivan","startTime":1370.274,"endTime":1374.654,"body":"who simply don't want more debt,"},{"speaker":"Matthew Sullivan","startTime":1375.134,"endTime":1376.824,"body":"there are many people like that or."},{"speaker":"Matthew Sullivan","startTime":1377.479,"endTime":1380.629,"body":"All those millions of people"},{"speaker":"Matthew Sullivan","startTime":1377.479,"endTime":1380.629,"body":"that don't qualify here is a way"},{"speaker":"Matthew Sullivan","startTime":1380.629,"endTime":1382.369,"body":"to unlock some of your wealth."},{"speaker":"Matthew Sullivan","startTime":1382.819,"endTime":1385.219,"body":"So the first point is it"},{"speaker":"Matthew Sullivan","startTime":1382.819,"endTime":1385.219,"body":"solves a major problem."},{"speaker":"Matthew Sullivan","startTime":1385.549,"endTime":1390.889,"body":"Now, from an investor's perspective,"},{"speaker":"Matthew Sullivan","startTime":1385.549,"endTime":1390.889,"body":"it's a compelling investment opportunity"},{"speaker":"Matthew Sullivan","startTime":1391.249,"endTime":1395.539,"body":"to provide that liquidity to homeowners"},{"speaker":"Matthew Sullivan","startTime":1391.249,"endTime":1395.539,"body":"because the way the agreements are"},{"speaker":"Matthew Sullivan","startTime":1395.539,"endTime":1400.459,"body":"structured, you are buying property"},{"speaker":"Matthew Sullivan","startTime":1395.539,"endTime":1400.459,"body":"at a significant discount to the"},{"speaker":"Matthew Sullivan","startTime":1400.699,"endTime":1403.669,"body":"fair market value, and that's"},{"speaker":"Matthew Sullivan","startTime":1400.699,"endTime":1403.669,"body":"really what these agreements are."},{"speaker":"Matthew Sullivan","startTime":1403.939,"endTime":1409.039,"body":"They're agreements that enable investors"},{"speaker":"Matthew Sullivan","startTime":1403.939,"endTime":1409.039,"body":"to buy some of the future value at a"},{"speaker":"Matthew Sullivan","startTime":1409.044,"endTime":1414.519,"body":"discount to the current value, and that's"},{"speaker":"Matthew Sullivan","startTime":1409.044,"endTime":1414.519,"body":"very attractive to investors who want real"},{"speaker":"Matthew Sullivan","startTime":1414.519,"endTime":1420.489,"body":"estate exposure because these agreements"},{"speaker":"Matthew Sullivan","startTime":1414.519,"endTime":1420.489,"body":"have inbuilt downside protection, and"},{"speaker":"Matthew Sullivan","startTime":1420.489,"endTime":1426.789,"body":"what that means is that the property"},{"speaker":"Matthew Sullivan","startTime":1420.489,"endTime":1426.789,"body":"can fall by 30 or 40% in value, and"},{"speaker":"Matthew Sullivan","startTime":1426.794,"endTime":1428.679,"body":"the investor can still make money."},{"speaker":"Matthew Sullivan","startTime":1429.189,"endTime":1432.489,"body":"So it solves a problem for"},{"speaker":"Matthew Sullivan","startTime":1429.189,"endTime":1432.489,"body":"homeowners, provides liquidity"},{"speaker":"Matthew Sullivan","startTime":1432.879,"endTime":1435.249,"body":"and gives real estate investors."},{"speaker":"Matthew Sullivan","startTime":1435.544,"endTime":1440.974,"body":"Access to a previously untapped real"},{"speaker":"Matthew Sullivan","startTime":1435.544,"endTime":1440.974,"body":"estate asset class with an instrument"},{"speaker":"Matthew Sullivan","startTime":1440.974,"endTime":1445.648,"body":"that gives them some pretty solid"},{"speaker":"Matthew Sullivan","startTime":1440.974,"endTime":1445.648,"body":"downside protection, which I, I would"},{"speaker":"Matthew Sullivan","startTime":1445.648,"endTime":1449.127,"body":"challenge anyone to to come up with"},{"speaker":"Matthew Sullivan","startTime":1445.648,"endTime":1449.127,"body":"a real estate investment that has"},{"speaker":"Matthew Sullivan","startTime":1449.127,"endTime":1452.279,"body":"the same level of downside protection"},{"speaker":"Matthew Sullivan","startTime":1449.127,"endTime":1452.279,"body":"that these types of agreements have."},{"speaker":"Average Joe Finances","startTime":1453.079,"endTime":1453.289,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1453.289,"endTime":1455.059,"body":"So Matthew, I was actually gonna,"},{"speaker":"Average Joe Finances","startTime":1453.289,"endTime":1455.059,"body":"that was gonna be the next thing I"},{"speaker":"Average Joe Finances","startTime":1455.059,"endTime":1458.659,"body":"wanted to ask you about was like, what"},{"speaker":"Average Joe Finances","startTime":1455.059,"endTime":1458.659,"body":"does this look like for an investor"},{"speaker":"Average Joe Finances","startTime":1458.664,"endTime":1461.095,"body":"that wants to purchase these future?"},{"speaker":"Average Joe Finances","startTime":1462.34,"endTime":1464.387,"body":"The future value of these homes, right?"},{"speaker":"Average Joe Finances","startTime":1464.717,"endTime":1466.95,"body":"And now you break it"},{"speaker":"Average Joe Finances","startTime":1464.717,"endTime":1466.95,"body":"down by shares, right?"},{"speaker":"Average Joe Finances","startTime":1466.95,"endTime":1470.443,"body":"So do you break the home up into like"},{"speaker":"Average Joe Finances","startTime":1466.95,"endTime":1470.443,"body":"shares and you say, okay, you have this"},{"speaker":"Average Joe Finances","startTime":1470.443,"endTime":1474.74,"body":"much equity so a share would be worth,"},{"speaker":"Average Joe Finances","startTime":1470.443,"endTime":1474.74,"body":"this much, and then 10 years from now"},{"speaker":"Average Joe Finances","startTime":1474.745,"endTime":1476.48,"body":"we estimate it would be worth this much."},{"speaker":"Average Joe Finances","startTime":1476.78,"endTime":1478.4,"body":"So this is the amount"},{"speaker":"Average Joe Finances","startTime":1476.78,"endTime":1478.4,"body":"you have to pay back."},{"speaker":"Average Joe Finances","startTime":1478.4,"endTime":1481.01,"body":"This is what we'll give you today, right?"},{"speaker":"Average Joe Finances","startTime":1481.22,"endTime":1484.268,"body":"So the investor that's buying"},{"speaker":"Average Joe Finances","startTime":1481.22,"endTime":1484.268,"body":"into that they're essentially"},{"speaker":"Average Joe Finances","startTime":1484.268,"endTime":1486.345,"body":"paying that amount right up front."},{"speaker":"Average Joe Finances","startTime":1486.705,"endTime":1486.855,"body":"Yes."},{"speaker":"Average Joe Finances","startTime":1486.883,"endTime":1488.507,"body":"And then it's, a 10 year hold period."},{"speaker":"Average Joe Finances","startTime":1488.538,"endTime":1492.964,"body":"So if you've got the money to be able"},{"speaker":"Average Joe Finances","startTime":1488.538,"endTime":1492.964,"body":"to put into something and let it sit for"},{"speaker":"Average Joe Finances","startTime":1492.964,"endTime":1498.496,"body":"10 years, what type of returns are some"},{"speaker":"Average Joe Finances","startTime":1492.964,"endTime":1498.496,"body":"of these investors seeing at that point?"},{"speaker":"Matthew Sullivan","startTime":1498.542,"endTime":1501.282,"body":"I think it's interesting"},{"speaker":"Matthew Sullivan","startTime":1498.542,"endTime":1501.282,"body":"because even though it's a 10 year"},{"speaker":"Matthew Sullivan","startTime":1501.287,"endTime":1506.202,"body":"term, what we're seeing is most of"},{"speaker":"Matthew Sullivan","startTime":1501.287,"endTime":1506.202,"body":"these agreements pay off much sooner"},{"speaker":"Matthew Sullivan","startTime":1506.202,"endTime":1508.343,"body":"than that, maybe, three to four years."},{"speaker":"Matthew Sullivan","startTime":1508.703,"endTime":1513.488,"body":"So the whole period is normally gonna be"},{"speaker":"Matthew Sullivan","startTime":1508.703,"endTime":1513.488,"body":"a lot lower on average than the full term."},{"speaker":"Matthew Sullivan","startTime":1513.512,"endTime":1522.375,"body":"And what we state on our website"},{"speaker":"Matthew Sullivan","startTime":1513.512,"endTime":1522.375,"body":"is that the I R is 12 to 15% over a"},{"speaker":"Matthew Sullivan","startTime":1522.375,"endTime":1527.132,"body":"four year period and that's assuming,"},{"speaker":"Matthew Sullivan","startTime":1522.375,"endTime":1527.132,"body":"a 3% house price appreciation."},{"speaker":"Matthew Sullivan","startTime":1527.179,"endTime":1531.116,"body":"We're assu assuming a fairly conservative"},{"speaker":"Matthew Sullivan","startTime":1527.179,"endTime":1531.116,"body":"house price appreciation and the way"},{"speaker":"Matthew Sullivan","startTime":1531.116,"endTime":1532.886,"body":"that these agreements are structured."},{"speaker":"Matthew Sullivan","startTime":1532.886,"endTime":1539.456,"body":"As you can see, if house prices appreciate"},{"speaker":"Matthew Sullivan","startTime":1532.886,"endTime":1539.456,"body":"by 3% a year, how come I'm getting a 15%"},{"speaker":"Matthew Sullivan","startTime":1539.906,"endTime":1545.644,"body":"i r And that's because of the inbuilt"},{"speaker":"Matthew Sullivan","startTime":1539.906,"endTime":1545.644,"body":"return, inbuilt leverage, or the inbuilt"},{"speaker":"Matthew Sullivan","startTime":1545.714,"endTime":1549.354,"body":"acceleration that, that comes from the"},{"speaker":"Matthew Sullivan","startTime":1545.714,"endTime":1549.354,"body":"way that the contract is structured."},{"speaker":"Matthew Sullivan","startTime":1549.644,"endTime":1553.025,"body":"So investors get a sort of"},{"speaker":"Matthew Sullivan","startTime":1549.644,"endTime":1553.025,"body":"a structurally leveraged."},{"speaker":"Matthew Sullivan","startTime":1553.025,"endTime":1556.535,"body":"In other words, they get the"},{"speaker":"Matthew Sullivan","startTime":1553.025,"endTime":1556.535,"body":"same sort of returns that they"},{"speaker":"Matthew Sullivan","startTime":1556.54,"endTime":1561.515,"body":"would get if the agreement was a"},{"speaker":"Matthew Sullivan","startTime":1556.54,"endTime":1561.515,"body":"leveraged agreement, but it's not."},{"speaker":"Matthew Sullivan","startTime":1561.665,"endTime":1564.365,"body":"So they get the same returns"},{"speaker":"Matthew Sullivan","startTime":1561.665,"endTime":1564.365,"body":"without all the risk associated"},{"speaker":"Matthew Sullivan","startTime":1564.365,"endTime":1565.415,"body":"with a leveraged agreement."},{"speaker":"Matthew Sullivan","startTime":1567.275,"endTime":1570.415,"body":"The other important thing is that"},{"speaker":"Matthew Sullivan","startTime":1567.275,"endTime":1570.415,"body":"our platform that we've recently"},{"speaker":"Matthew Sullivan","startTime":1570.42,"endTime":1574.385,"body":"launched has been designed"},{"speaker":"Matthew Sullivan","startTime":1570.42,"endTime":1574.385,"body":"to enable investors to trade."},{"speaker":"Matthew Sullivan","startTime":1574.76,"endTime":1575.27,"body":"The paper."},{"speaker":"Matthew Sullivan","startTime":1575.57,"endTime":1580.55,"body":"So in other words, once an agreement has"},{"speaker":"Matthew Sullivan","startTime":1575.57,"endTime":1580.55,"body":"been funded with a homeowner that happens"},{"speaker":"Matthew Sullivan","startTime":1580.73,"endTime":1585.35,"body":"behind the scenes, we take that home"},{"speaker":"Matthew Sullivan","startTime":1580.73,"endTime":1585.35,"body":"equity investment, which is an asset."},{"speaker":"Matthew Sullivan","startTime":1585.95,"endTime":1590.334,"body":"We use blockchain technologies to"},{"speaker":"Matthew Sullivan","startTime":1585.95,"endTime":1590.334,"body":"chop it up into tradeable shares"},{"speaker":"Matthew Sullivan","startTime":1590.994,"endTime":1593.124,"body":"and people can then buy fractions."},{"speaker":"Matthew Sullivan","startTime":1593.889,"endTime":1598.069,"body":"Of home equity investments, or"},{"speaker":"Matthew Sullivan","startTime":1593.889,"endTime":1598.069,"body":"they can buy whole home equity"},{"speaker":"Matthew Sullivan","startTime":1598.069,"endTime":1600.079,"body":"investments or they can buy pools."},{"speaker":"Matthew Sullivan","startTime":1600.499,"endTime":1604.849,"body":"So from an investor's perspective, our"},{"speaker":"Matthew Sullivan","startTime":1600.499,"endTime":1604.849,"body":"platform is a marketplace that's been"},{"speaker":"Matthew Sullivan","startTime":1604.849,"endTime":1607.879,"body":"designed to enable much more flexibility."},{"speaker":"Matthew Sullivan","startTime":1607.973,"endTime":1609.803,"body":"In investing into these agreements."},{"speaker":"Matthew Sullivan","startTime":1609.803,"endTime":1613.116,"body":"So you can pick and choose where"},{"speaker":"Matthew Sullivan","startTime":1609.803,"endTime":1613.116,"body":"you want to invest, but you've"},{"speaker":"Matthew Sullivan","startTime":1613.116,"endTime":1615.246,"body":"also got a tradeability element."},{"speaker":"Matthew Sullivan","startTime":1615.259,"endTime":1619.021,"body":"You can buy and sell these"},{"speaker":"Matthew Sullivan","startTime":1615.259,"endTime":1619.021,"body":"instruments and that, that creates"},{"speaker":"Matthew Sullivan","startTime":1619.021,"endTime":1621.361,"body":"liquidity for the instrument itself."},{"speaker":"Matthew Sullivan","startTime":1621.661,"endTime":1625.531,"body":"So the homeowner has liquidity"},{"speaker":"Matthew Sullivan","startTime":1621.661,"endTime":1625.531,"body":"and the investor also has"},{"speaker":"Matthew Sullivan","startTime":1625.711,"endTime":1627.601,"body":"the prospect of liquidity."},{"speaker":"Matthew Sullivan","startTime":1627.841,"endTime":1630.489,"body":"And we're still at a very early"},{"speaker":"Matthew Sullivan","startTime":1627.841,"endTime":1630.489,"body":"stage in terms of numbers, but."},{"speaker":"Matthew Sullivan","startTime":1631.329,"endTime":1635.474,"body":"Over time, I think we'll see we're"},{"speaker":"Matthew Sullivan","startTime":1631.329,"endTime":1635.474,"body":"expecting to see some, some significant"},{"speaker":"Matthew Sullivan","startTime":1635.474,"endTime":1640.154,"body":"increase in trading activity on the"},{"speaker":"Matthew Sullivan","startTime":1635.474,"endTime":1640.154,"body":"platform as these become more widely"},{"speaker":"Matthew Sullivan","startTime":1640.244,"endTime":1643.176,"body":"known, understood, and invested in."},{"speaker":"Matthew Sullivan","startTime":1644.191,"endTime":1644.226,"body":"."},{"speaker":"Matthew Sullivan","startTime":1644.191,"endTime":1644.226,"body":"Average Joe Finances: Yeah."},{"speaker":"Matthew Sullivan","startTime":1644.256,"endTime":1647.339,"body":"No I really like that cause it's"},{"speaker":"Matthew Sullivan","startTime":1644.256,"endTime":1647.339,"body":"interesting, you had mentioned that"},{"speaker":"Matthew Sullivan","startTime":1647.343,"endTime":1648.75,"body":"it's, it's on the blockchain, right?"},{"speaker":"Matthew Sullivan","startTime":1648.75,"endTime":1652.674,"body":"And you split it up into fractional"},{"speaker":"Matthew Sullivan","startTime":1648.75,"endTime":1652.674,"body":"shares and, that is like where the"},{"speaker":"Matthew Sullivan","startTime":1652.679,"endTime":1654.883,"body":"future of real estate's going, right?"},{"speaker":"Matthew Sullivan","startTime":1654.883,"endTime":1656.233,"body":"There's already been homes sold."},{"speaker":"Matthew Sullivan","startTime":1657.013,"endTime":1659.041,"body":"on the blockchain, title,"},{"speaker":"Matthew Sullivan","startTime":1657.013,"endTime":1659.041,"body":"everything done that way."},{"speaker":"Matthew Sullivan","startTime":1659.101,"endTime":1659.311,"body":"Yes."},{"speaker":"Matthew Sullivan","startTime":1659.461,"endTime":1662.338,"body":"And there's popular people out"},{"speaker":"Matthew Sullivan","startTime":1659.461,"endTime":1662.338,"body":"there like Ryan Pinedo, who's saying"},{"speaker":"Matthew Sullivan","startTime":1662.391,"endTime":1664.941,"body":"this is the future of real estate."},{"speaker":"Matthew Sullivan","startTime":1665.211,"endTime":1666.465,"body":"And I don't know for sure."},{"speaker":"Matthew Sullivan","startTime":1666.465,"endTime":1669.525,"body":"I don't have a crystal ball,"},{"speaker":"Matthew Sullivan","startTime":1666.465,"endTime":1669.525,"body":"but the way things are going and"},{"speaker":"Matthew Sullivan","startTime":1669.525,"endTime":1672.555,"body":"the way technology is, I could"},{"speaker":"Matthew Sullivan","startTime":1669.525,"endTime":1672.555,"body":"definitely see it going that way."},{"speaker":"Matthew Sullivan","startTime":1672.615,"endTime":1677.13,"body":"So being able to get into to a"},{"speaker":"Matthew Sullivan","startTime":1672.615,"endTime":1677.13,"body":"marketplace like super early, is"},{"speaker":"Matthew Sullivan","startTime":1677.795,"endTime":1679.89,"body":"quite telling of where this is going."},{"speaker":"Matthew Sullivan","startTime":1679.919,"endTime":1681.601,"body":"So I think that's pretty awesome."},{"speaker":"Matthew Sullivan","startTime":1681.633,"endTime":1684.817,"body":"And the fact that you're able to"},{"speaker":"Matthew Sullivan","startTime":1681.633,"endTime":1684.817,"body":"fractionalize, these investments that"},{"speaker":"Matthew Sullivan","startTime":1684.817,"endTime":1689.227,"body":"these investors are putting into, and it"},{"speaker":"Matthew Sullivan","startTime":1684.817,"endTime":1689.227,"body":"gives them the opportunity, like you said."},{"speaker":"Matthew Sullivan","startTime":1689.712,"endTime":1692.032,"body":"for possible liquidity themselves."},{"speaker":"Matthew Sullivan","startTime":1692.046,"endTime":1693.066,"body":"That's huge, right?"},{"speaker":"Matthew Sullivan","startTime":1693.066,"endTime":1698.136,"body":"Because any investor, no matter what they"},{"speaker":"Matthew Sullivan","startTime":1693.066,"endTime":1698.136,"body":"put into, they want liquidity, right?"},{"speaker":"Matthew Sullivan","startTime":1698.136,"endTime":1699.156,"body":"Everybody wants liquidity."},{"speaker":"Matthew Sullivan","startTime":1699.161,"endTime":1702.599,"body":"You always wanna be able to cash out"},{"speaker":"Matthew Sullivan","startTime":1699.161,"endTime":1702.599,"body":"if you need to and things like that."},{"speaker":"Matthew Sullivan","startTime":1702.809,"endTime":1704.459,"body":"And this provides that opportunity."},{"speaker":"Matthew Sullivan","startTime":1704.464,"endTime":1705.398,"body":"So that's pretty amazing."},{"speaker":"Matthew Sullivan","startTime":1706.483,"endTime":1706.933,"body":"Great, thank you."},{"speaker":"Matthew Sullivan","startTime":1706.933,"endTime":1709.993,"body":"And it is, I agree with you because"},{"speaker":"Matthew Sullivan","startTime":1706.933,"endTime":1709.993,"body":"it's not just about the technology"},{"speaker":"Matthew Sullivan","startTime":1709.994,"endTime":1714.787,"body":"the regulatory environment is"},{"speaker":"Matthew Sullivan","startTime":1709.994,"endTime":1714.787,"body":"now it's become more flexible and"},{"speaker":"Matthew Sullivan","startTime":1714.787,"endTime":1718.99,"body":"there's a lot more understanding"},{"speaker":"Matthew Sullivan","startTime":1714.787,"endTime":1718.99,"body":"of what blockchain can actually do."},{"speaker":"Matthew Sullivan","startTime":1718.99,"endTime":1724.797,"body":"And really what it does is it brings"},{"speaker":"Matthew Sullivan","startTime":1718.99,"endTime":1724.797,"body":"low cost efficiencies to the change"},{"speaker":"Matthew Sullivan","startTime":1724.797,"endTime":1727.167,"body":"of ownership of real estate assets."},{"speaker":"Matthew Sullivan","startTime":1727.234,"endTime":1729.7,"body":"And in very simple terms,"},{"speaker":"Matthew Sullivan","startTime":1727.234,"endTime":1729.7,"body":"it means that the ownership."},{"speaker":"Matthew Sullivan","startTime":1730.275,"endTime":1735.705,"body":"Of an asset or the ownership of a"},{"speaker":"Matthew Sullivan","startTime":1730.275,"endTime":1735.705,"body":"fraction of an asset can change hands at"},{"speaker":"Matthew Sullivan","startTime":1735.705,"endTime":1740.12,"body":"a much lower cost and with much higher"},{"speaker":"Matthew Sullivan","startTime":1735.705,"endTime":1740.12,"body":"efficiency than it was done previously."},{"speaker":"Matthew Sullivan","startTime":1740.174,"endTime":1744.434,"body":"Yeah, instantly, previously you would"},{"speaker":"Matthew Sullivan","startTime":1740.174,"endTime":1744.434,"body":"own shares in a real estate investment"},{"speaker":"Matthew Sullivan","startTime":1744.434,"endTime":1748.594,"body":"through a, an LP or a, you'd be, you'd"},{"speaker":"Matthew Sullivan","startTime":1744.434,"endTime":1748.594,"body":"have a partnership if you wanted to"},{"speaker":"Matthew Sullivan","startTime":1748.599,"endTime":1752.804,"body":"sell your shares in the partnership,"},{"speaker":"Matthew Sullivan","startTime":1748.599,"endTime":1752.804,"body":"you would go through the general partner"},{"speaker":"Matthew Sullivan","startTime":1752.804,"endTime":1756.734,"body":"there would be a very long process, in"},{"speaker":"Matthew Sullivan","startTime":1752.804,"endTime":1756.734,"body":"most cases of finding another investor."},{"speaker":"Matthew Sullivan","startTime":1756.734,"endTime":1758.024,"body":"And you'd be expensive."},{"speaker":"Matthew Sullivan","startTime":1758.024,"endTime":1758.864,"body":"But if you."},{"speaker":"Matthew Sullivan","startTime":1759.444,"endTime":1764.374,"body":"Bring all of that into a technologically"},{"speaker":"Matthew Sullivan","startTime":1759.444,"endTime":1764.374,"body":"driven environment that can happen"},{"speaker":"Matthew Sullivan","startTime":1764.374,"endTime":1768.484,"body":"instantly at a much low cost, and"},{"speaker":"Matthew Sullivan","startTime":1764.374,"endTime":1768.484,"body":"that in itself creates liquidity."},{"speaker":"Matthew Sullivan","startTime":1768.489,"endTime":1773.944,"body":"That creeps accessibility and tradeability"},{"speaker":"Matthew Sullivan","startTime":1768.489,"endTime":1773.944,"body":"and all of that breathes life into."},{"speaker":"Matthew Sullivan","startTime":1774.729,"endTime":1776.799,"body":"an enormous asset class."},{"speaker":"Matthew Sullivan","startTime":1776.866,"endTime":1781.346,"body":"And so that, if it was a, a tiny asset"},{"speaker":"Matthew Sullivan","startTime":1776.866,"endTime":1781.346,"body":"class, then it wouldn't be worth doing."},{"speaker":"Matthew Sullivan","startTime":1781.346,"endTime":1785.062,"body":"But the fact that you are creating or"},{"speaker":"Matthew Sullivan","startTime":1781.346,"endTime":1785.062,"body":"the one is creating accessibility and"},{"speaker":"Matthew Sullivan","startTime":1785.422,"endTime":1790.282,"body":"tradeability in this enormous untapped"},{"speaker":"Matthew Sullivan","startTime":1785.422,"endTime":1790.282,"body":"asset class that going back to the"},{"speaker":"Matthew Sullivan","startTime":1790.282,"endTime":1791.472,"body":"very beginning of our conversation."},{"speaker":"Matthew Sullivan","startTime":1792.057,"endTime":1794.858,"body":"Everybody understands,"},{"speaker":"Matthew Sullivan","startTime":1792.057,"endTime":1794.858,"body":"people know what a home is."},{"speaker":"Matthew Sullivan","startTime":1794.885,"endTime":1799.025,"body":"Then that's why we're very excited"},{"speaker":"Matthew Sullivan","startTime":1794.885,"endTime":1799.025,"body":"about where this whole space is at"},{"speaker":"Matthew Sullivan","startTime":1799.025,"endTime":1800.285,"body":"the moment and where it's going to go."},{"speaker":"Average Joe Finances","startTime":1801.275,"endTime":1801.408,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1801.408,"endTime":1804.79,"body":"Matthew, I wanna point something out too,"},{"speaker":"Average Joe Finances","startTime":1801.408,"endTime":1804.79,"body":"just so people understand your experience"},{"speaker":"Average Joe Finances","startTime":1804.795,"endTime":1806.89,"body":"with this, cause I don't think we really"},{"speaker":"Average Joe Finances","startTime":1804.795,"endTime":1806.89,"body":"talked about this in your background."},{"speaker":"Average Joe Finances","startTime":1806.895,"endTime":1809.881,"body":"Now you also have two"},{"speaker":"Average Joe Finances","startTime":1806.895,"endTime":1809.881,"body":"real estate funds, right?"},{"speaker":"Matthew Sullivan","startTime":1810.537,"endTime":1813.447,"body":"Yes, I was"},{"speaker":"Matthew Sullivan","startTime":1810.537,"endTime":1813.447,"body":"co-founder of a couple of this funds."},{"speaker":"Matthew Sullivan","startTime":1813.447,"endTime":1814.227,"body":"Yeah, exactly."},{"speaker":"Average Joe Finances","startTime":1814.657,"endTime":1815.017,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1815.017,"endTime":1818.784,"body":"And you also do have a crowdfunding"},{"speaker":"Average Joe Finances","startTime":1815.017,"endTime":1818.784,"body":"platform called Crowd Venture."},{"speaker":"Average Joe Finances","startTime":1818.784,"endTime":1819.084,"body":"Right?"},{"speaker":"Matthew Sullivan","startTime":1819.173,"endTime":1822.613,"body":"That was one of the"},{"speaker":"Matthew Sullivan","startTime":1819.173,"endTime":1822.613,"body":"very early real estate crowdfunding"},{"speaker":"Matthew Sullivan","startTime":1822.773,"endTime":1824.806,"body":"companies that came out of the Jobs Act."},{"speaker":"Matthew Sullivan","startTime":1824.806,"endTime":1827.073,"body":"So yeah, so there's lots of learning."},{"speaker":"Matthew Sullivan","startTime":1827.523,"endTime":1832.867,"body":"That's happened over the years with"},{"speaker":"Matthew Sullivan","startTime":1827.523,"endTime":1832.867,"body":"the online trading and, the challenges"},{"speaker":"Matthew Sullivan","startTime":1832.867,"endTime":1836.477,"body":"and the benefits of bringing these"},{"speaker":"Matthew Sullivan","startTime":1832.867,"endTime":1836.477,"body":"things to life in an online environment"},{"speaker":"Matthew Sullivan","startTime":1836.837,"endTime":1839.154,"body":"and also, running real estate funds."},{"speaker":"Matthew Sullivan","startTime":1839.476,"endTime":1843.066,"body":"It's where concept meets reality,"},{"speaker":"Matthew Sullivan","startTime":1839.476,"endTime":1843.066,"body":"so there's lots of, Understanding"},{"speaker":"Matthew Sullivan","startTime":1843.066,"endTime":1845.665,"body":"and experience there of, what"},{"speaker":"Matthew Sullivan","startTime":1843.066,"endTime":1845.665,"body":"should happen and what does happen."},{"speaker":"Average Joe Finances","startTime":1846.325,"endTime":1848.532,"body":"Oh I just"},{"speaker":"Average Joe Finances","startTime":1846.325,"endTime":1848.532,"body":"wanted to point out your experience"},{"speaker":"Average Joe Finances","startTime":1848.532,"endTime":1851.088,"body":"with this, because when we're talking"},{"speaker":"Average Joe Finances","startTime":1848.532,"endTime":1851.088,"body":"about, cause this is something"},{"speaker":"Average Joe Finances","startTime":1851.093,"endTime":1853.518,"body":"that's, to me it was new, right?"},{"speaker":"Average Joe Finances","startTime":1853.518,"endTime":1855.168,"body":"And I, I know a lot of people"},{"speaker":"Average Joe Finances","startTime":1853.518,"endTime":1855.168,"body":"are listening right now."},{"speaker":"Average Joe Finances","startTime":1855.173,"endTime":1857.303,"body":"Probably never heard of these"},{"speaker":"Average Joe Finances","startTime":1855.173,"endTime":1857.303,"body":"home equity agreements before."},{"speaker":"Average Joe Finances","startTime":1857.573,"endTime":1859.883,"body":"So this is a very new"},{"speaker":"Average Joe Finances","startTime":1857.573,"endTime":1859.883,"body":"thing for a lot of people."},{"speaker":"Average Joe Finances","startTime":1860.153,"endTime":1862.123,"body":"But I wanted to point out your experience."},{"speaker":"Average Joe Finances","startTime":1862.148,"endTime":1866.221,"body":"In the real estate realm as well with"},{"speaker":"Average Joe Finances","startTime":1862.148,"endTime":1866.221,"body":"funds and with running real estate funds"},{"speaker":"Average Joe Finances","startTime":1866.221,"endTime":1870.001,"body":"and everything because you have a very"},{"speaker":"Average Joe Finances","startTime":1866.221,"endTime":1870.001,"body":"good understanding of how this works"},{"speaker":"Average Joe Finances","startTime":1870.001,"endTime":1872.341,"body":"and you know how to work with investors."},{"speaker":"Average Joe Finances","startTime":1872.375,"endTime":1874.05,"body":"And I think that's important to point out."},{"speaker":"Average Joe Finances","startTime":1874.05,"endTime":1874.14,"body":"Yes."},{"speaker":"Average Joe Finances","startTime":1874.53,"endTime":1878.557,"body":"Because there's a lot of people that can"},{"speaker":"Average Joe Finances","startTime":1874.53,"endTime":1878.557,"body":"start things up and it sounds great on"},{"speaker":"Average Joe Finances","startTime":1878.557,"endTime":1883.182,"body":"paper, but if they don't have experience"},{"speaker":"Average Joe Finances","startTime":1878.557,"endTime":1883.182,"body":"with investors, they, they find themselves"},{"speaker":"Average Joe Finances","startTime":1883.182,"endTime":1884.982,"body":"getting stuck and having a hard time."},{"speaker":"Average Joe Finances","startTime":1884.982,"endTime":1886.815,"body":"But I find this very fascinating."},{"speaker":"Average Joe Finances","startTime":1886.815,"endTime":1890.455,"body":"I feel like I learned so much"},{"speaker":"Average Joe Finances","startTime":1886.815,"endTime":1890.455,"body":"just from this short conversation."},{"speaker":"Average Joe Finances","startTime":1890.467,"endTime":1891.247,"body":"This is really cool, Matthew."},{"speaker":"Average Joe Finances","startTime":1891.247,"endTime":1891.697,"body":"Thank you."},{"speaker":"Matthew Sullivan","startTime":1892.582,"endTime":1894.952,"body":"Thank you now,"},{"speaker":"Matthew Sullivan","startTime":1892.582,"endTime":1894.952,"body":"and the important thing is, again"},{"speaker":"Matthew Sullivan","startTime":1894.995,"endTime":1898.431,"body":"coming back to what we do is it"},{"speaker":"Matthew Sullivan","startTime":1894.995,"endTime":1898.431,"body":"has a real world application."},{"speaker":"Matthew Sullivan","startTime":1898.431,"endTime":1902.061,"body":"So there are many technologies"},{"speaker":"Matthew Sullivan","startTime":1898.431,"endTime":1902.061,"body":"that are fascinating because of"},{"speaker":"Matthew Sullivan","startTime":1902.066,"endTime":1903.291,"body":"what they do and how they work."},{"speaker":"Matthew Sullivan","startTime":1903.621,"endTime":1906.861,"body":"But the nuts and bolts of this"},{"speaker":"Matthew Sullivan","startTime":1903.621,"endTime":1906.861,"body":"really is that it provides a"},{"speaker":"Matthew Sullivan","startTime":1906.861,"endTime":1912.433,"body":"service to millions of people who"},{"speaker":"Matthew Sullivan","startTime":1906.861,"endTime":1912.433,"body":"need the money now more than ever."},{"speaker":"Matthew Sullivan","startTime":1912.441,"endTime":1912.801,"body":"And."},{"speaker":"Matthew Sullivan","startTime":1914.161,"endTime":1917.724,"body":"And so doing it provides, a"},{"speaker":"Matthew Sullivan","startTime":1914.161,"endTime":1917.724,"body":"solid return to investors."},{"speaker":"Matthew Sullivan","startTime":1917.724,"endTime":1919.073,"body":"It's a great place to be."},{"speaker":"Matthew Sullivan","startTime":1919.078,"endTime":1922.536,"body":"And it's funny, as I was saying"},{"speaker":"Matthew Sullivan","startTime":1919.078,"endTime":1922.536,"body":"earlier, you build on all of your"},{"speaker":"Matthew Sullivan","startTime":1922.536,"endTime":1926.38,"body":"experiences and this was really"},{"speaker":"Matthew Sullivan","startTime":1922.536,"endTime":1926.38,"body":"interesting from the very, very beginning"},{"speaker":"Matthew Sullivan","startTime":1926.86,"endTime":1928.93,"body":"because of the scalability of it."},{"speaker":"Matthew Sullivan","startTime":1928.93,"endTime":1932.092,"body":"Because all the things that I"},{"speaker":"Matthew Sullivan","startTime":1928.93,"endTime":1932.092,"body":"learned at Crowd Venture which is."},{"speaker":"Matthew Sullivan","startTime":1932.172,"endTime":1933.945,"body":"Scalability is so important."},{"speaker":"Matthew Sullivan","startTime":1933.974,"endTime":1938.654,"body":"Every time you take on a new deal, if you"},{"speaker":"Matthew Sullivan","startTime":1933.974,"endTime":1938.654,"body":"have to manage each deal individually,"},{"speaker":"Matthew Sullivan","startTime":1938.654,"endTime":1940.784,"body":"then you grind to a haul very soon."},{"speaker":"Matthew Sullivan","startTime":1941.204,"endTime":1944.984,"body":"But being able to create something"},{"speaker":"Matthew Sullivan","startTime":1941.204,"endTime":1944.984,"body":"that, that can grow and grow"},{"speaker":"Matthew Sullivan","startTime":1945.044,"endTime":1949.447,"body":"without, the friction associated"},{"speaker":"Matthew Sullivan","startTime":1945.044,"endTime":1949.447,"body":"with having to have almost individual"},{"speaker":"Matthew Sullivan","startTime":1949.447,"endTime":1950.9,"body":"loan offices for each deal."},{"speaker":"Matthew Sullivan","startTime":1950.909,"endTime":1954.471,"body":"So there's lots of learnings that happened"},{"speaker":"Matthew Sullivan","startTime":1950.909,"endTime":1954.471,"body":"with all the other things I did in"},{"speaker":"Matthew Sullivan","startTime":1954.471,"endTime":1959.326,"body":"this space that, that really, you know"},{"speaker":"Matthew Sullivan","startTime":1954.471,"endTime":1959.326,"body":"help us build it the way it is today."},{"speaker":"Average Joe Finances","startTime":1960.586,"endTime":1961.396,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1961.396,"endTime":1965.4,"body":"I, again I just, I wanted to point"},{"speaker":"Average Joe Finances","startTime":1961.396,"endTime":1965.4,"body":"that out because I just, I feel"},{"speaker":"Average Joe Finances","startTime":1965.4,"endTime":1968.9,"body":"like, this is something that might"},{"speaker":"Average Joe Finances","startTime":1965.4,"endTime":1968.9,"body":"be very useful to a lot of investors."},{"speaker":"Average Joe Finances","startTime":1969.26,"endTime":1971.84,"body":"One if they need to borrow"},{"speaker":"Average Joe Finances","startTime":1969.26,"endTime":1971.84,"body":"against their equity."},{"speaker":"Average Joe Finances","startTime":1971.845,"endTime":1974.392,"body":"But two, if you're an investor and"},{"speaker":"Average Joe Finances","startTime":1971.845,"endTime":1974.392,"body":"you're looking for something else"},{"speaker":"Average Joe Finances","startTime":1974.397,"endTime":1980.655,"body":"to invest in that's relatively very"},{"speaker":"Average Joe Finances","startTime":1974.397,"endTime":1980.655,"body":"safe and . Some very good downturn"},{"speaker":"Average Joe Finances","startTime":1980.905,"endTime":1982.645,"body":"protection, like you mentioned earlier."},{"speaker":"Average Joe Finances","startTime":1982.645,"endTime":1982.735,"body":"Yes."},{"speaker":"Average Joe Finances","startTime":1982.809,"endTime":1984.399,"body":"This is a great thing to look at."},{"speaker":"Average Joe Finances","startTime":1984.418,"endTime":1985.168,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":1985.177,"endTime":1988.147,"body":"Matthew, I wanna transition this into"},{"speaker":"Average Joe Finances","startTime":1985.177,"endTime":1988.147,"body":"something that I call the final round."},{"speaker":"Average Joe Finances","startTime":1988.417,"endTime":1991.027,"body":"It's where I'm gonna ask you four"},{"speaker":"Average Joe Finances","startTime":1988.417,"endTime":1991.027,"body":"questions that I ask everybody that"},{"speaker":"Average Joe Finances","startTime":1991.027,"endTime":1995.187,"body":"comes on this show, and it'll help give"},{"speaker":"Average Joe Finances","startTime":1991.027,"endTime":1995.187,"body":"us an idea of how you are under pressure"},{"speaker":"Average Joe Finances","startTime":1995.367,"endTime":1996.857,"body":"or when you're put in tough situation."},{"speaker":"Matthew Sullivan","startTime":1997.47,"endTime":1998.1,"body":"Okay."},{"speaker":"Matthew Sullivan","startTime":1998.4,"endTime":1998.73,"body":"Okay."},{"speaker":"Matthew Sullivan","startTime":1998.94,"endTime":2001.16,"body":"And as we said earlier, I"},{"speaker":"Matthew Sullivan","startTime":1998.94,"endTime":2001.16,"body":"have not prepared for this."},{"speaker":"Matthew Sullivan","startTime":2001.16,"endTime":2002.84,"body":"They be prepared for long silences."},{"speaker":"Average Joe Finances","startTime":2003.74,"endTime":2005.941,"body":"Alright hopefully"},{"speaker":"Average Joe Finances","startTime":2003.74,"endTime":2005.941,"body":"there's not long silence, but I think"},{"speaker":"Average Joe Finances","startTime":2005.941,"endTime":2007.651,"body":"we're gonna be okay, but, alright."},{"speaker":"Average Joe Finances","startTime":2007.651,"endTime":2010.651,"body":"Matthew, first question is,"},{"speaker":"Average Joe Finances","startTime":2007.651,"endTime":2010.651,"body":"what's the biggest mistake"},{"speaker":"Average Joe Finances","startTime":2010.711,"endTime":2012.541,"body":"you've ever made in real estate?"},{"speaker":"Matthew Sullivan","startTime":2013.218,"endTime":2017.553,"body":"I think you"},{"speaker":"Matthew Sullivan","startTime":2013.218,"endTime":2017.553,"body":"real estate is like any business."},{"speaker":"Matthew Sullivan","startTime":2019.078,"endTime":2022.038,"body":"and you know that after"},{"speaker":"Matthew Sullivan","startTime":2019.078,"endTime":2022.038,"body":"you've gone through it."},{"speaker":"Matthew Sullivan","startTime":2022.067,"endTime":2026.237,"body":"And I think the biggest mis"},{"speaker":"Matthew Sullivan","startTime":2022.067,"endTime":2026.237,"body":"mistake is assuming that everything"},{"speaker":"Matthew Sullivan","startTime":2026.237,"endTime":2027.467,"body":"will go according to plan."},{"speaker":"Matthew Sullivan","startTime":2027.857,"endTime":2032.283,"body":"And I don't think there's one specific"},{"speaker":"Matthew Sullivan","startTime":2027.857,"endTime":2032.283,"body":"investment that went terribly wrong."},{"speaker":"Matthew Sullivan","startTime":2032.307,"endTime":2036.854,"body":"And I've spoken to loads of people who"},{"speaker":"Matthew Sullivan","startTime":2032.307,"endTime":2036.854,"body":"have one horror story where everything"},{"speaker":"Matthew Sullivan","startTime":2036.854,"endTime":2039.554,"body":"went right and then the one deal"},{"speaker":"Matthew Sullivan","startTime":2036.854,"endTime":2039.554,"body":"that they did went horribly wrong."},{"speaker":"Matthew Sullivan","startTime":2039.854,"endTime":2044.046,"body":"But I think the way I would answer"},{"speaker":"Matthew Sullivan","startTime":2039.854,"endTime":2044.046,"body":"this is by saying that nothing."},{"speaker":"Matthew Sullivan","startTime":2045.331,"endTime":2046.601,"body":"Goes according to plan."},{"speaker":"Matthew Sullivan","startTime":2046.607,"endTime":2049.397,"body":"So you have to have contingencies."},{"speaker":"Matthew Sullivan","startTime":2049.397,"endTime":2054.648,"body":"You have to have the expectation that if"},{"speaker":"Matthew Sullivan","startTime":2049.397,"endTime":2054.648,"body":"this thing doesn't go entirely according"},{"speaker":"Matthew Sullivan","startTime":2054.648,"endTime":2056.688,"body":"to plan, what's gonna happen next?"},{"speaker":"Matthew Sullivan","startTime":2056.808,"endTime":2057.858,"body":"What is your plan B?"},{"speaker":"Matthew Sullivan","startTime":2057.863,"endTime":2062.367,"body":"How do you prevent all your eggs from"},{"speaker":"Matthew Sullivan","startTime":2057.863,"endTime":2062.367,"body":"being in one metaphorical baskets?"},{"speaker":"Matthew Sullivan","startTime":2062.487,"endTime":2063.357,"body":"And that I think, is."},{"speaker":"Matthew Sullivan","startTime":2064.007,"endTime":2067.007,"body":"In real estate as it is"},{"speaker":"Matthew Sullivan","startTime":2064.007,"endTime":2067.007,"body":"with any other business."},{"speaker":"Matthew Sullivan","startTime":2067.11,"endTime":2071.07,"body":"But people are lulled into a full"},{"speaker":"Matthew Sullivan","startTime":2067.11,"endTime":2071.07,"body":"sense of security with real estate"},{"speaker":"Matthew Sullivan","startTime":2071.46,"endTime":2075.06,"body":"because they think they understand it"},{"speaker":"Matthew Sullivan","startTime":2071.46,"endTime":2075.06,"body":"because they can feel it and touch it."},{"speaker":"Matthew Sullivan","startTime":2075.6,"endTime":2080.049,"body":"But, I think, the learnings are that"},{"speaker":"Matthew Sullivan","startTime":2075.6,"endTime":2080.049,"body":"it is an incredibly dynamic business"},{"speaker":"Matthew Sullivan","startTime":2080.379,"endTime":2084.814,"body":"with many individual factors that"},{"speaker":"Matthew Sullivan","startTime":2080.379,"endTime":2084.814,"body":"can contribute to success or failure."},{"speaker":"Matthew Sullivan","startTime":2085.504,"endTime":2087.514,"body":"And you have to be as open and."},{"speaker":"Matthew Sullivan","startTime":2088.459,"endTime":2093.949,"body":"To of as many of those as possible"},{"speaker":"Matthew Sullivan","startTime":2088.459,"endTime":2093.949,"body":"at any given time, and not to assume"},{"speaker":"Matthew Sullivan","startTime":2094.369,"endTime":2098.209,"body":"that everything will go according"},{"speaker":"Matthew Sullivan","startTime":2094.369,"endTime":2098.209,"body":"to your spreadsheets and your plans."},{"speaker":"Average Joe Finances","startTime":2099.169,"endTime":2100.019,"body":"Yeah, a hundred percent."},{"speaker":"Average Joe Finances","startTime":2100.055,"endTime":2102.216,"body":"It is hard to narrow"},{"speaker":"Average Joe Finances","startTime":2100.055,"endTime":2102.216,"body":"it down to one, right?"},{"speaker":"Average Joe Finances","startTime":2102.216,"endTime":2105.871,"body":"Especially if you've been doing this for"},{"speaker":"Average Joe Finances","startTime":2102.216,"endTime":2105.871,"body":"a little while because, and assuming can"},{"speaker":"Average Joe Finances","startTime":2105.871,"endTime":2109.882,"body":"be the worst thing you could possibly"},{"speaker":"Average Joe Finances","startTime":2105.871,"endTime":2109.882,"body":"do, like you had mentioned earlier."},{"speaker":"Average Joe Finances","startTime":2109.885,"endTime":2113.691,"body":"And feel like a lot of people find"},{"speaker":"Average Joe Finances","startTime":2109.885,"endTime":2113.691,"body":"themselves in that area cause real"},{"speaker":"Average Joe Finances","startTime":2113.696,"endTime":2118.651,"body":"estate can be incredibly easy and"},{"speaker":"Average Joe Finances","startTime":2113.696,"endTime":2118.651,"body":"incredibly hard at the same exact time."},{"speaker":"Average Joe Finances","startTime":2118.661,"endTime":2121.038,"body":"Because you might think,"},{"speaker":"Average Joe Finances","startTime":2118.661,"endTime":2121.038,"body":"everything you need to know."},{"speaker":"Average Joe Finances","startTime":2121.148,"endTime":2123.885,"body":"And if you're not paying attention to"},{"speaker":"Average Joe Finances","startTime":2121.148,"endTime":2123.885,"body":"what's going on, there's always new"},{"speaker":"Average Joe Finances","startTime":2123.885,"endTime":2125.905,"body":"laws, there's new regulations coming out."},{"speaker":"Average Joe Finances","startTime":2125.905,"endTime":2128.222,"body":"There's so many people that"},{"speaker":"Average Joe Finances","startTime":2125.905,"endTime":2128.222,"body":"got involved in like short-term"},{"speaker":"Average Joe Finances","startTime":2128.222,"endTime":2129.617,"body":"rentals just to have that."},{"speaker":"Average Joe Finances","startTime":2129.942,"endTime":2133.117,"body":"Just a false flat on their"},{"speaker":"Average Joe Finances","startTime":2129.942,"endTime":2133.117,"body":"face because the city regulated"},{"speaker":"Average Joe Finances","startTime":2133.117,"endTime":2134.257,"body":"it and changed the rules."},{"speaker":"Average Joe Finances","startTime":2134.285,"endTime":2137.525,"body":"Where that asset class worked as"},{"speaker":"Average Joe Finances","startTime":2134.285,"endTime":2137.525,"body":"a short-term rental, but it did"},{"speaker":"Average Joe Finances","startTime":2137.525,"endTime":2139.235,"body":"not work as a long-term rental."},{"speaker":"Average Joe Finances","startTime":2139.565,"endTime":2143.797,"body":"And now, these people found themselves"},{"speaker":"Average Joe Finances","startTime":2139.565,"endTime":2143.797,"body":"like having to sell these homes"},{"speaker":"Average Joe Finances","startTime":2143.797,"endTime":2146.816,"body":"short, sell them or figure out"},{"speaker":"Average Joe Finances","startTime":2143.797,"endTime":2146.816,"body":"another way to, to make it work."},{"speaker":"Average Joe Finances","startTime":2146.816,"endTime":2148.758,"body":"So yeah definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":2149.538,"endTime":2149.928,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2149.94,"endTime":2150.137,"body":"Imagine."},{"speaker":"Matthew Sullivan","startTime":2150.168,"endTime":2150.169,"body":"No."},{"speaker":"Matthew Sullivan","startTime":2150.169,"endTime":2151.608,"body":"I was just gonna say it is exactly that."},{"speaker":"Matthew Sullivan","startTime":2151.692,"endTime":2156.372,"body":"It is the fact that you just have your"},{"speaker":"Matthew Sullivan","startTime":2151.692,"endTime":2156.372,"body":"blinkers on and you think that everything"},{"speaker":"Matthew Sullivan","startTime":2156.372,"endTime":2160.006,"body":"is gonna be exactly as but you just need"},{"speaker":"Matthew Sullivan","startTime":2156.372,"endTime":2160.006,"body":"to work with smart people who've been"},{"speaker":"Matthew Sullivan","startTime":2160.066,"endTime":2163.781,"body":"through this before and listen to them"},{"speaker":"Matthew Sullivan","startTime":2160.066,"endTime":2163.781,"body":"when they say what happens if interest"},{"speaker":"Matthew Sullivan","startTime":2163.781,"endTime":2167.711,"body":"rates go up from three to 7% and not"},{"speaker":"Matthew Sullivan","startTime":2163.781,"endTime":2167.711,"body":"say things like, oh, that's never gonna"},{"speaker":"Matthew Sullivan","startTime":2167.711,"endTime":2170.341,"body":"happen, so you've gotta be able to, you."},{"speaker":"Average Joe Finances","startTime":2170.606,"endTime":2172.796,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":2170.606,"endTime":2172.796,"body":"having a good mentor is important"},{"speaker":"Average Joe Finances","startTime":2172.796,"endTime":2173.978,"body":"or getting a coach right."},{"speaker":"Average Joe Finances","startTime":2173.978,"endTime":2175.632,"body":"I firmly believe in that stuff, okay."},{"speaker":"Average Joe Finances","startTime":2175.697,"endTime":2178.667,"body":"Matthew, the next question I have"},{"speaker":"Average Joe Finances","startTime":2175.697,"endTime":2178.667,"body":"for you is, what is something that"},{"speaker":"Average Joe Finances","startTime":2178.667,"endTime":2182.627,"body":"you've learned that you wish you"},{"speaker":"Average Joe Finances","startTime":2178.667,"endTime":2182.627,"body":"knew when you first got started?"},{"speaker":"Matthew Sullivan","startTime":2183.497,"endTime":2188.16,"body":"I think the answer"},{"speaker":"Matthew Sullivan","startTime":2183.497,"endTime":2188.16,"body":"to that really is that you've got"},{"speaker":"Matthew Sullivan","startTime":2188.327,"endTime":2191.737,"body":"to have faith and trust in yourself."},{"speaker":"Matthew Sullivan","startTime":2191.737,"endTime":2196.072,"body":"And I don't want this to be a"},{"speaker":"Matthew Sullivan","startTime":2191.737,"endTime":2196.072,"body":"very west coast Californian touchy"},{"speaker":"Matthew Sullivan","startTime":2196.072,"endTime":2199.732,"body":"feely answer, but in many cases,"},{"speaker":"Matthew Sullivan","startTime":2196.072,"endTime":2199.732,"body":"something is the way forward."},{"speaker":"Matthew Sullivan","startTime":2199.79,"endTime":2202.048,"body":"It endemically, you feel it inside."},{"speaker":"Matthew Sullivan","startTime":2202.122,"endTime":2205.512,"body":"And that's the path that you should be"},{"speaker":"Matthew Sullivan","startTime":2202.122,"endTime":2205.512,"body":"on and that's what you should be doing."},{"speaker":"Matthew Sullivan","startTime":2205.531,"endTime":2210.001,"body":"And that's the business that you should"},{"speaker":"Matthew Sullivan","startTime":2205.531,"endTime":2210.001,"body":"be building, and that's, And then someone"},{"speaker":"Matthew Sullivan","startTime":2210.001,"endTime":2214.06,"body":"will come along and say and we'll give,"},{"speaker":"Matthew Sullivan","startTime":2210.001,"endTime":2214.06,"body":"Some negative feedback or something and"},{"speaker":"Matthew Sullivan","startTime":2214.15,"endTime":2218.469,"body":"because of lack of courage or lack of"},{"speaker":"Matthew Sullivan","startTime":2214.15,"endTime":2218.469,"body":"self-belief, you'll you won't do it."},{"speaker":"Matthew Sullivan","startTime":2218.52,"endTime":2225.51,"body":"And I think really the only way that you"},{"speaker":"Matthew Sullivan","startTime":2218.52,"endTime":2225.51,"body":"should not do something is by doing it."},{"speaker":"Matthew Sullivan","startTime":2225.92,"endTime":2230.107,"body":"And then completely and utterly"},{"speaker":"Matthew Sullivan","startTime":2225.92,"endTime":2230.107,"body":"failing at it at the end, so"},{"speaker":"Matthew Sullivan","startTime":2230.947,"endTime":2232.147,"body":"see it all the way through."},{"speaker":"Matthew Sullivan","startTime":2232.147,"endTime":2236.578,"body":"So in a number of cases, I've done"},{"speaker":"Matthew Sullivan","startTime":2232.147,"endTime":2236.578,"body":"something I've half done something"},{"speaker":"Matthew Sullivan","startTime":2236.908,"endTime":2242.128,"body":"because I got distracted or I got"},{"speaker":"Matthew Sullivan","startTime":2236.908,"endTime":2242.128,"body":"scared because of feedback from people."},{"speaker":"Matthew Sullivan","startTime":2242.308,"endTime":2245.95,"body":"Who really didn't know any better"},{"speaker":"Matthew Sullivan","startTime":2242.308,"endTime":2245.95,"body":"and didn't have any of the same"},{"speaker":"Matthew Sullivan","startTime":2246.07,"endTime":2247.71,"body":"vision, that I had at that time."},{"speaker":"Matthew Sullivan","startTime":2247.715,"endTime":2251.755,"body":"So I think the advice, not"},{"speaker":"Matthew Sullivan","startTime":2247.715,"endTime":2251.755,"body":"that it is advice, but just see"},{"speaker":"Matthew Sullivan","startTime":2251.755,"endTime":2253.615,"body":"something through to the end."},{"speaker":"Matthew Sullivan","startTime":2254.405,"endTime":2258.949,"body":"Take advice from people, but if it's"},{"speaker":"Matthew Sullivan","startTime":2254.405,"endTime":2258.949,"body":"gonna crash, then, be the pilot of"},{"speaker":"Matthew Sullivan","startTime":2258.949,"endTime":2262.371,"body":"your own disaster so that at least you"},{"speaker":"Matthew Sullivan","startTime":2258.949,"endTime":2262.371,"body":"can, come out of the wreckage, dust"},{"speaker":"Matthew Sullivan","startTime":2262.371,"endTime":2266.371,"body":"yourself off and start again knowing"},{"speaker":"Matthew Sullivan","startTime":2262.371,"endTime":2266.371,"body":"what went wrong and why it went wrong."},{"speaker":"Average Joe Finances","startTime":2267.511,"endTime":2267.811,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2267.841,"endTime":2268.566,"body":"No that's great."},{"speaker":"Average Joe Finances","startTime":2268.568,"endTime":2270.008,"body":"That's a fantastic way to put it."},{"speaker":"Average Joe Finances","startTime":2270.098,"endTime":2273.574,"body":"Be the pilot and be able to dust"},{"speaker":"Average Joe Finances","startTime":2270.098,"endTime":2273.574,"body":"yourself off because, if you can't dust"},{"speaker":"Average Joe Finances","startTime":2273.574,"endTime":2276.463,"body":"yourself off and get back up and get"},{"speaker":"Average Joe Finances","startTime":2273.574,"endTime":2276.463,"body":"back into it that's where you're gonna"},{"speaker":"Average Joe Finances","startTime":2276.463,"endTime":2278.476,"body":"start to see true failure come in."},{"speaker":"Average Joe Finances","startTime":2278.476,"endTime":2283.536,"body":"Because, the people that get caught"},{"speaker":"Average Joe Finances","startTime":2278.476,"endTime":2283.536,"body":"up in their mistakes and give"},{"speaker":"Average Joe Finances","startTime":2283.536,"endTime":2287.076,"body":"up are the ones that just, that"},{"speaker":"Average Joe Finances","startTime":2283.536,"endTime":2287.076,"body":"could have made it, that never."},{"speaker":"Average Joe Finances","startTime":2287.886,"endTime":2289.656,"body":"So I definitely appreciate"},{"speaker":"Average Joe Finances","startTime":2287.886,"endTime":2289.656,"body":"that perspective."},{"speaker":"Matthew Sullivan","startTime":2289.686,"endTime":2292.386,"body":"I think that, I"},{"speaker":"Matthew Sullivan","startTime":2289.686,"endTime":2292.386,"body":"think that is, I think that is failure."},{"speaker":"Matthew Sullivan","startTime":2292.776,"endTime":2295.062,"body":"I think failure is not to fail."},{"speaker":"Matthew Sullivan","startTime":2295.062,"endTime":2299.124,"body":"It sounds ridiculous, but it's,"},{"speaker":"Matthew Sullivan","startTime":2295.062,"endTime":2299.124,"body":"failure is a natural part of the"},{"speaker":"Matthew Sullivan","startTime":2299.124,"endTime":2300.874,"body":"growth and, the business cycle."},{"speaker":"Average Joe Finances","startTime":2300.885,"endTime":2303.21,"body":"It's"},{"speaker":"Average Joe Finances","startTime":2300.885,"endTime":2303.21,"body":"another step towards success."},{"speaker":"Matthew Sullivan","startTime":2303.215,"endTime":2306.472,"body":"Exactly, it's like"},{"speaker":"Matthew Sullivan","startTime":2303.215,"endTime":2306.472,"body":"a scientific experiment that, that"},{"speaker":"Matthew Sullivan","startTime":2306.472,"endTime":2309.755,"body":"yields a certain type of results,"},{"speaker":"Matthew Sullivan","startTime":2306.472,"endTime":2309.755,"body":"and what do they say that, fear is"},{"speaker":"Matthew Sullivan","startTime":2309.755,"endTime":2311.735,"body":"a temporary lack of information."},{"speaker":"Matthew Sullivan","startTime":2311.825,"endTime":2314.805,"body":"Same sort of thing, anyway, I'm not sure"},{"speaker":"Matthew Sullivan","startTime":2311.825,"endTime":2314.805,"body":"if I answered the question we'll, just"},{"speaker":"Matthew Sullivan","startTime":2314.895,"endTime":2316.395,"body":"taking down a completely different route."},{"speaker":"Matthew Sullivan","startTime":2316.395,"endTime":2316.635,"body":"Sorry."},{"speaker":"Average Joe Finances","startTime":2316.875,"endTime":2317.6,"body":"No, it's all good."},{"speaker":"Average Joe Finances","startTime":2317.6,"endTime":2318.08,"body":"It's all good."},{"speaker":"Average Joe Finances","startTime":2318.32,"endTime":2322.402,"body":"All right, Matthew the next question I"},{"speaker":"Average Joe Finances","startTime":2318.32,"endTime":2322.402,"body":"have for you is, do you have any tips"},{"speaker":"Average Joe Finances","startTime":2322.402,"endTime":2326.302,"body":"or tricks that you would recommend to"},{"speaker":"Average Joe Finances","startTime":2322.402,"endTime":2326.302,"body":"someone that is just getting started out?"},{"speaker":"Matthew Sullivan","startTime":2326.366,"endTime":2328.043,"body":"In real estate or, yeah."},{"speaker":"Average Joe Finances","startTime":2328.043,"endTime":2328.733,"body":"In real estate."},{"speaker":"Matthew Sullivan","startTime":2328.733,"endTime":2329.343,"body":"Generally."},{"speaker":"Matthew Sullivan","startTime":2329.343,"endTime":2336.088,"body":"Yeah I think you should be very specific"},{"speaker":"Matthew Sullivan","startTime":2329.343,"endTime":2336.088,"body":"about the type of real estate that you"},{"speaker":"Matthew Sullivan","startTime":2336.088,"endTime":2340.078,"body":"want to invest in and do your research."},{"speaker":"Matthew Sullivan","startTime":2340.168,"endTime":2344.753,"body":"So do not, Leap in just because your"},{"speaker":"Matthew Sullivan","startTime":2340.168,"endTime":2344.753,"body":"capital is burning a hole in your pocket."},{"speaker":"Matthew Sullivan","startTime":2345.353,"endTime":2348.402,"body":"Conversely, make sure you do something."},{"speaker":"Matthew Sullivan","startTime":2348.402,"endTime":2351.463,"body":"In other words, don't just sit"},{"speaker":"Matthew Sullivan","startTime":2348.402,"endTime":2351.463,"body":"back and not invest because"},{"speaker":"Matthew Sullivan","startTime":2351.463,"endTime":2352.573,"body":"then nothing will happen."},{"speaker":"Matthew Sullivan","startTime":2352.614,"endTime":2357.319,"body":"The way forward is to treat it like"},{"speaker":"Matthew Sullivan","startTime":2352.614,"endTime":2357.319,"body":"a business, treat it like a something"},{"speaker":"Matthew Sullivan","startTime":2357.319,"endTime":2361.279,"body":"that needs work in the same way that"},{"speaker":"Matthew Sullivan","startTime":2357.319,"endTime":2361.279,"body":"you would work at any other normal job."},{"speaker":"Matthew Sullivan","startTime":2362.559,"endTime":2367.989,"body":"Put the hours in, make informed"},{"speaker":"Matthew Sullivan","startTime":2362.559,"endTime":2367.989,"body":"decisions and get as much advice"},{"speaker":"Matthew Sullivan","startTime":2367.989,"endTime":2370.539,"body":"as possible from other people."},{"speaker":"Matthew Sullivan","startTime":2370.599,"endTime":2375.279,"body":"Preferably free advice from people that"},{"speaker":"Matthew Sullivan","startTime":2370.599,"endTime":2375.279,"body":"you trust or from people that you don't"},{"speaker":"Matthew Sullivan","startTime":2375.279,"endTime":2380.049,"body":"trust, but just get as much information,"},{"speaker":"Matthew Sullivan","startTime":2375.279,"endTime":2380.049,"body":"as much background information,"},{"speaker":"Matthew Sullivan","startTime":2380.319,"endTime":2382.059,"body":"and then make an informed decision."},{"speaker":"Matthew Sullivan","startTime":2382.064,"endTime":2384.279,"body":"Then if it goes right, congratulations."},{"speaker":"Matthew Sullivan","startTime":2384.279,"endTime":2386.551,"body":"If it doesn't go right, don't bet the."},{"speaker":"Matthew Sullivan","startTime":2387.206,"endTime":2390.086,"body":"Make sure that you learn from the"},{"speaker":"Matthew Sullivan","startTime":2387.206,"endTime":2390.086,"body":"mistake and then go back and do it"},{"speaker":"Matthew Sullivan","startTime":2390.086,"endTime":2391.406,"body":"again more intelligently next time."},{"speaker":"Average Joe Finances","startTime":2392.591,"endTime":2393.691,"body":"Yeah, learn from that."},{"speaker":"Average Joe Finances","startTime":2393.719,"endTime":2395.012,"body":"That's one, one of the biggest things."},{"speaker":"Average Joe Finances","startTime":2395.012,"endTime":2396.222,"body":"Just learn from the mistakes."},{"speaker":"Average Joe Finances","startTime":2396.222,"endTime":2399.404,"body":"In real estate, every time you make a"},{"speaker":"Average Joe Finances","startTime":2396.222,"endTime":2399.404,"body":"mistake, it's another piece of education."},{"speaker":"Average Joe Finances","startTime":2399.764,"endTime":2400.754,"body":"How expensive it is."},{"speaker":"Average Joe Finances","startTime":2400.754,"endTime":2401.999,"body":"Depends on how much you had to learn"},{"speaker":"Average Joe Finances","startTime":2403.009,"endTime":2403.424,"body":"."},{"speaker":"Average Joe Finances","startTime":2403.009,"endTime":2403.424,"body":"Matthew Sullivan: That's right."},{"speaker":"Average Joe Finances","startTime":2403.424,"endTime":2403.604,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2403.814,"endTime":2404.984,"body":"Could be very expensive."},{"speaker":"Average Joe Finances","startTime":2404.989,"endTime":2405.764,"body":"Harvard."},{"speaker":"Average Joe Finances","startTime":2405.764,"endTime":2407.264,"body":"Great education just then."},{"speaker":"Average Joe Finances","startTime":2407.264,"endTime":2408.254,"body":"Yeah, exactly."},{"speaker":"Average Joe Finances","startTime":2408.404,"endTime":2408.944,"body":"Exactly."},{"speaker":"Average Joe Finances","startTime":2409.394,"endTime":2409.797,"body":"All right."},{"speaker":"Average Joe Finances","startTime":2409.807,"endTime":2414.31,"body":"Matthew, so the final question of the"},{"speaker":"Average Joe Finances","startTime":2409.807,"endTime":2414.31,"body":"final round is, do you have a favorite"},{"speaker":"Average Joe Finances","startTime":2414.8,"endTime":2419.01,"body":"business investing or real estate"},{"speaker":"Average Joe Finances","startTime":2414.8,"endTime":2419.01,"body":"related book or podcast, or, both?"},{"speaker":"Matthew Sullivan","startTime":2419.01,"endTime":2424.646,"body":"Yes, funny enough, my"},{"speaker":"Matthew Sullivan","startTime":2419.01,"endTime":2424.646,"body":"favorite book that that has had the most"},{"speaker":"Matthew Sullivan","startTime":2424.646,"endTime":2428.095,"body":"use to me, and I was just looking up as"},{"speaker":"Matthew Sullivan","startTime":2424.646,"endTime":2428.095,"body":"you were speaking earlier is a book by"},{"speaker":"Matthew Sullivan","startTime":2428.125,"endTime":2433.278,"body":"David Allen called Getting Things Done,"},{"speaker":"Matthew Sullivan","startTime":2428.125,"endTime":2433.278,"body":"and I always forget his name but it's a"},{"speaker":"Matthew Sullivan","startTime":2433.278,"endTime":2437.328,"body":"book that someone recommended me years"},{"speaker":"Matthew Sullivan","startTime":2433.278,"endTime":2437.328,"body":"ago, and it's one of these things that."},{"speaker":"Matthew Sullivan","startTime":2438.243,"endTime":2442.344,"body":"It just stayed with me because"},{"speaker":"Matthew Sullivan","startTime":2438.243,"endTime":2442.344,"body":"like many of us, I wake up at three"},{"speaker":"Matthew Sullivan","startTime":2442.344,"endTime":2446.392,"body":"o'clock on a Monday morning just going"},{"speaker":"Matthew Sullivan","startTime":2442.344,"endTime":2446.392,"body":"through a list of things I've got to"},{"speaker":"Matthew Sullivan","startTime":2446.397,"endTime":2449.677,"body":"do and and then getting to the end"},{"speaker":"Matthew Sullivan","startTime":2446.397,"endTime":2449.677,"body":"think, oh God, I've this, and you"},{"speaker":"Matthew Sullivan","startTime":2449.677,"endTime":2452.167,"body":"just go through, I've gotta this do"},{"speaker":"Matthew Sullivan","startTime":2449.677,"endTime":2452.167,"body":"that, make sure I've gotta do that."},{"speaker":"Matthew Sullivan","startTime":2452.557,"endTime":2457.207,"body":"So your mind is just full of all"},{"speaker":"Matthew Sullivan","startTime":2452.557,"endTime":2457.207,"body":"this useless list information."},{"speaker":"Matthew Sullivan","startTime":2457.837,"endTime":2463.75,"body":"And I stumbled across this book and"},{"speaker":"Matthew Sullivan","startTime":2457.837,"endTime":2463.75,"body":"what he teaches, and I'm paraphrasing"},{"speaker":"Matthew Sullivan","startTime":2463.75,"endTime":2467.47,"body":"very badly, is that your mind is"},{"speaker":"Matthew Sullivan","startTime":2463.75,"endTime":2467.47,"body":"really designed to be creative and"},{"speaker":"Matthew Sullivan","startTime":2467.68,"endTime":2470.77,"body":"absolutely not designed to be a"},{"speaker":"Matthew Sullivan","startTime":2467.68,"endTime":2470.77,"body":"repository of useless information."},{"speaker":"Matthew Sullivan","startTime":2471.13,"endTime":2476.08,"body":"So write down all the stuff that"},{"speaker":"Matthew Sullivan","startTime":2471.13,"endTime":2476.08,"body":"you've got to do somewhere safe,"},{"speaker":"Matthew Sullivan","startTime":2476.11,"endTime":2480.94,"body":"like a book on your desk where you"},{"speaker":"Matthew Sullivan","startTime":2476.11,"endTime":2480.94,"body":"know where it is, and then you can"},{"speaker":"Matthew Sullivan","startTime":2480.945,"endTime":2482.68,"body":"completely forget about having."},{"speaker":"Matthew Sullivan","startTime":2482.68,"endTime":2485.681,"body":"Remember what you're gonna do the"},{"speaker":"Matthew Sullivan","startTime":2482.68,"endTime":2485.681,"body":"next day, cause you know that you've"},{"speaker":"Matthew Sullivan","startTime":2485.681,"endTime":2491.311,"body":"written it all down and then suddenly"},{"speaker":"Matthew Sullivan","startTime":2485.681,"endTime":2491.311,"body":"your mind become, Clear to start"},{"speaker":"Matthew Sullivan","startTime":2491.311,"endTime":2493.351,"body":"thinking about solving problems."},{"speaker":"Matthew Sullivan","startTime":2493.561,"endTime":2497.073,"body":"And you can still wake up at three o'clock"},{"speaker":"Matthew Sullivan","startTime":2493.561,"endTime":2497.073,"body":"in the morning with ideas, but you'll"},{"speaker":"Matthew Sullivan","startTime":2497.073,"endTime":2502.353,"body":"have ideas then about how you've solved"},{"speaker":"Matthew Sullivan","startTime":2497.073,"endTime":2502.353,"body":"problems, how you can bring new light"},{"speaker":"Matthew Sullivan","startTime":2502.383,"endTime":2506.522,"body":"and, new growth to the business or new"},{"speaker":"Matthew Sullivan","startTime":2502.383,"endTime":2506.522,"body":"ideas because your mind is being used"},{"speaker":"Matthew Sullivan","startTime":2506.792,"endTime":2511.662,"body":"as a creative engine rather than being"},{"speaker":"Matthew Sullivan","startTime":2506.792,"endTime":2511.662,"body":"clogged up by all this sort of useless"},{"speaker":"Matthew Sullivan","startTime":2511.662,"endTime":2515.741,"body":"information that is really, strangulating"},{"speaker":"Matthew Sullivan","startTime":2511.662,"endTime":2515.741,"body":"your ability to think creatibly."},{"speaker":"Average Joe Finances","startTime":2516.741,"endTime":2519.147,"body":"Yeah, no I"},{"speaker":"Average Joe Finances","startTime":2516.741,"endTime":2519.147,"body":"appreciate that that book recommendation,"},{"speaker":"Average Joe Finances","startTime":2519.147,"endTime":2521.007,"body":"Matthew, because that's fantastic."},{"speaker":"Average Joe Finances","startTime":2521.277,"endTime":2524.49,"body":"When you first mentioned, you know that"},{"speaker":"Average Joe Finances","startTime":2521.277,"endTime":2524.49,"body":"you were getting up at three o'clock"},{"speaker":"Average Joe Finances","startTime":2524.49,"endTime":2527.13,"body":"in the morning, like many other people,"},{"speaker":"Average Joe Finances","startTime":2524.49,"endTime":2527.13,"body":"I'm like, who are these people for?"},{"speaker":"Average Joe Finances","startTime":2527.13,"endTime":2528.27,"body":"One, for two."},{"speaker":"Average Joe Finances","startTime":2528.27,"endTime":2530.46,"body":"Then I realized you were talking"},{"speaker":"Average Joe Finances","startTime":2528.27,"endTime":2530.46,"body":"about, okay, you're waking up"},{"speaker":"Average Joe Finances","startTime":2530.46,"endTime":2532.26,"body":"cause your mind is racing, right?"},{"speaker":"Average Joe Finances","startTime":2532.265,"endTime":2534.36,"body":"I was like, oh man, if he's"},{"speaker":"Average Joe Finances","startTime":2532.265,"endTime":2534.36,"body":"getting up at three o'clock in the"},{"speaker":"Average Joe Finances","startTime":2534.36,"endTime":2535.89,"body":"morning every day, that's crazy."},{"speaker":"Average Joe Finances","startTime":2535.89,"endTime":2538.408,"body":"cause I did 20 years in the military"},{"speaker":"Average Joe Finances","startTime":2535.89,"endTime":2538.408,"body":"and I was getting up at four 30."},{"speaker":"Matthew Sullivan","startTime":2539.708,"endTime":2540.811,"body":"No,"},{"speaker":"Matthew Sullivan","startTime":2539.708,"endTime":2540.811,"body":"let me explain one thing."},{"speaker":"Matthew Sullivan","startTime":2540.811,"endTime":2540.942,"body":"No."},{"speaker":"Matthew Sullivan","startTime":2540.988,"endTime":2544.918,"body":"I do not Category, do not get up"},{"speaker":"Matthew Sullivan","startTime":2540.988,"endTime":2544.918,"body":"at 3:00 AM In fact, I'm not even"},{"speaker":"Matthew Sullivan","startTime":2544.918,"endTime":2546.868,"body":"sure if that time actually exists."},{"speaker":"Matthew Sullivan","startTime":2546.968,"endTime":2547.208,"body":"Yeah."},{"speaker":"Matthew Sullivan","startTime":2547.213,"endTime":2549.155,"body":"So but you'd wake up, bolt up, right?"},{"speaker":"Average Joe Finances","startTime":2549.18,"endTime":2550.53,"body":"You"},{"speaker":"Average Joe Finances","startTime":2549.18,"endTime":2550.53,"body":"threw me off for a second, man."},{"speaker":"Average Joe Finances","startTime":2550.53,"endTime":2551.43,"body":"I was like, oh my goodness."},{"speaker":"Average Joe Finances","startTime":2551.43,"endTime":2552.69,"body":"He's got up at three"},{"speaker":"Average Joe Finances","startTime":2551.43,"endTime":2552.69,"body":"o'clock in the morning."},{"speaker":"Average Joe Finances","startTime":2552.69,"endTime":2553.56,"body":"Good on him, man."},{"speaker":"Average Joe Finances","startTime":2553.59,"endTime":2553.89,"body":"Yeah,"},{"speaker":"Matthew Sullivan","startTime":2553.89,"endTime":2555.82,"body":"I just like"},{"speaker":"Matthew Sullivan","startTime":2553.89,"endTime":2555.82,"body":"Margaret that, so I just need"},{"speaker":"Matthew Sullivan","startTime":2555.82,"endTime":2557.475,"body":"four hours sleep,  plus the rest."},{"speaker":"Average Joe Finances","startTime":2558.455,"endTime":2559.415,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":2559.415,"endTime":2560.105,"body":"All right, awesome."},{"speaker":"Average Joe Finances","startTime":2560.285,"endTime":2561.725,"body":"Hey, so great book recommendation."},{"speaker":"Average Joe Finances","startTime":2561.725,"endTime":2562.775,"body":"Thank you so much for that."},{"speaker":"Average Joe Finances","startTime":2563.075,"endTime":2566.465,"body":"All right, I, that's it for the final"},{"speaker":"Average Joe Finances","startTime":2563.075,"endTime":2566.465,"body":"round, but I do have one more very"},{"speaker":"Average Joe Finances","startTime":2566.465,"endTime":2569.495,"body":"important question for you, Matthew, and"},{"speaker":"Average Joe Finances","startTime":2566.465,"endTime":2569.495,"body":"it's the most important question of all."},{"speaker":"Average Joe Finances","startTime":2569.915,"endTime":2571.505,"body":"I learned a lot during this episode."},{"speaker":"Average Joe Finances","startTime":2571.51,"endTime":2574.355,"body":"I'm sure my listeners also"},{"speaker":"Average Joe Finances","startTime":2571.51,"endTime":2574.355,"body":"learned a lot during this episode."},{"speaker":"Average Joe Finances","startTime":2574.74,"endTime":2578.19,"body":"And they wanna know more about where"},{"speaker":"Average Joe Finances","startTime":2574.74,"endTime":2578.19,"body":"they can find more information about"},{"speaker":"Average Joe Finances","startTime":2578.19,"endTime":2581.94,"body":"you and Quantum, how they can get into"},{"speaker":"Average Joe Finances","startTime":2578.19,"endTime":2581.94,"body":"a home equity agreement or how they"},{"speaker":"Average Joe Finances","startTime":2581.94,"endTime":2583.83,"body":"can invest in a home equity agreement."},{"speaker":"Average Joe Finances","startTime":2584.16,"endTime":2586.26,"body":"So where can we find that"},{"speaker":"Average Joe Finances","startTime":2584.16,"endTime":2586.26,"body":"information about, do you have a"},{"speaker":"Average Joe Finances","startTime":2586.26,"endTime":2589.281,"body":"website any social medias that we"},{"speaker":"Average Joe Finances","startTime":2586.26,"endTime":2589.281,"body":"can follow, anything like that?"},{"speaker":"Matthew Sullivan","startTime":2590.566,"endTime":2591.256,"body":"Yes, thank you."},{"speaker":"Matthew Sullivan","startTime":2591.376,"endTime":2594.226,"body":"And it's all, all really, we try"},{"speaker":"Matthew Sullivan","startTime":2591.376,"endTime":2594.226,"body":"and put everything on the website."},{"speaker":"Matthew Sullivan","startTime":2594.226,"endTime":2601.726,"body":"It says quantumRE, QUANTUM"},{"speaker":"Matthew Sullivan","startTime":2594.226,"endTime":2601.726,"body":"RE, quantumRE.com and we've"},{"speaker":"Matthew Sullivan","startTime":2601.756,"endTime":2603.155,"body":"got lots of information."},{"speaker":"Matthew Sullivan","startTime":2603.155,"endTime":2606.305,"body":"There's a calculator where you"},{"speaker":"Matthew Sullivan","startTime":2603.155,"endTime":2606.305,"body":"can find out how much equity"},{"speaker":"Matthew Sullivan","startTime":2606.305,"endTime":2607.515,"body":"potentially you could unlock."},{"speaker":"Matthew Sullivan","startTime":2607.545,"endTime":2611.475,"body":"You can register an account with us,"},{"speaker":"Matthew Sullivan","startTime":2607.545,"endTime":2611.475,"body":"which is a trading account, so you can"},{"speaker":"Matthew Sullivan","startTime":2611.475,"endTime":2614.87,"body":"go on, see some of our home equity deals."},{"speaker":"Matthew Sullivan","startTime":2614.934,"endTime":2617.934,"body":"It's for accredited investors at the"},{"speaker":"Matthew Sullivan","startTime":2614.934,"endTime":2617.934,"body":"moment, but we're gonna be opening"},{"speaker":"Matthew Sullivan","startTime":2618.024,"endTime":2620.609,"body":"up next year to smaller investors."},{"speaker":"Matthew Sullivan","startTime":2620.653,"endTime":2621.463,"body":"So everything is there."},{"speaker":"Matthew Sullivan","startTime":2621.468,"endTime":2622.892,"body":"There's lots of resources."},{"speaker":"Matthew Sullivan","startTime":2622.972,"endTime":2626.735,"body":"There's a downloadable guide that talks"},{"speaker":"Matthew Sullivan","startTime":2622.972,"endTime":2626.735,"body":"about what home equity agreements are."},{"speaker":"Matthew Sullivan","startTime":2626.764,"endTime":2630.577,"body":"Everything's on the website, phone"},{"speaker":"Matthew Sullivan","startTime":2626.764,"endTime":2630.577,"body":"numbers, addresses, and please call us."},{"speaker":"Matthew Sullivan","startTime":2630.577,"endTime":2632.557,"body":"We'd love to hear from you."},{"speaker":"Average Joe Finances","startTime":2632.557,"endTime":2632.837,"body":"All right."},{"speaker":"Average Joe Finances","startTime":2632.857,"endTime":2633.487,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":2633.487,"endTime":2634.147,"body":"Thank you so much."},{"speaker":"Average Joe Finances","startTime":2634.147,"endTime":2637.14,"body":"I'm gonna make sure I have the, all the"},{"speaker":"Average Joe Finances","startTime":2634.147,"endTime":2637.14,"body":"links and everything in the show notes"},{"speaker":"Average Joe Finances","startTime":2637.44,"endTime":2638.79,"body":"to make it easier for our listeners."},{"speaker":"Average Joe Finances","startTime":2638.79,"endTime":2640.53,"body":"You can just copy and paste or click away."},{"speaker":"Average Joe Finances","startTime":2640.71,"endTime":2642.12,"body":"Just don't do it while you're driving."},{"speaker":"Average Joe Finances","startTime":2642.17,"endTime":2643.7,"body":"Matthew, thank you so much."},{"speaker":"Average Joe Finances","startTime":2643.7,"endTime":2647.032,"body":"This was a very informative interview"},{"speaker":"Average Joe Finances","startTime":2643.7,"endTime":2647.032,"body":"and I really enjoyed myself."},{"speaker":"Average Joe Finances","startTime":2647.407,"endTime":2647.767,"body":"Thank you."},{"speaker":"Matthew Sullivan","startTime":2647.887,"endTime":2648.687,"body":"Wonderful."},{"speaker":"Matthew Sullivan","startTime":2648.817,"endTime":2649.327,"body":"Likewise."},{"speaker":"Matthew Sullivan","startTime":2649.327,"endTime":2650.227,"body":"And it's been a pleasure, Mike."},{"speaker":"Matthew Sullivan","startTime":2650.227,"endTime":2651.327,"body":"Thanks so much for having me on."},{"speaker":"Average Joe Finances","startTime":2651.887,"endTime":2652.437,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":2652.462,"endTime":2655.672,"body":"And hey, to my listeners, thank"},{"speaker":"Average Joe Finances","startTime":2652.462,"endTime":2655.672,"body":"you so much for joining me and our"},{"speaker":"Average Joe Finances","startTime":2655.672,"endTime":2659.152,"body":"special guest, Matthew Sullivan on"},{"speaker":"Average Joe Finances","startTime":2655.672,"endTime":2659.152,"body":"the average Joe Finances Podcast."},{"speaker":"Average Joe Finances","startTime":2659.542,"endTime":2661.852,"body":"Go leave us a five star review"},{"speaker":"Average Joe Finances","startTime":2659.542,"endTime":2661.852,"body":"and tell us what you like about"},{"speaker":"Average Joe Finances","startTime":2661.852,"endTime":2663.832,"body":"today's episode with Matthew."},{"speaker":"Average Joe Finances","startTime":2664.132,"endTime":2666.652,"body":"Aloha from Hawaii and have"},{"speaker":"Average Joe Finances","startTime":2664.132,"endTime":2666.652,"body":"a great rest of your day."}]}