{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.883,"endTime":3.283,"body":"Hey, welcome back"},{"speaker":"Average Joe Finances","startTime":0.883,"endTime":3.283,"body":"to the Average Joe Finances podcast."},{"speaker":"Average Joe Finances","startTime":3.283,"endTime":7.123,"body":"I'm your host Mike Cavaggioni,"},{"speaker":"Average Joe Finances","startTime":3.283,"endTime":7.123,"body":"and today's guest is Brett Swartz."},{"speaker":"Average Joe Finances","startTime":7.123,"endTime":9.223,"body":"So Brett, super excited"},{"speaker":"Average Joe Finances","startTime":7.123,"endTime":9.223,"body":"to talk to you today."},{"speaker":"Average Joe Finances","startTime":9.403,"endTime":10.633,"body":"Thank you for joining me on the show."},{"speaker":"Brett Swarts","startTime":11.293,"endTime":11.713,"body":"Mike."},{"speaker":"Brett Swarts","startTime":11.718,"endTime":13.483,"body":"It's my pleasure and honor to be here."},{"speaker":"Brett Swarts","startTime":13.483,"endTime":13.873,"body":"Thanks for having me."},{"speaker":"Average Joe Finances","startTime":14.308,"endTime":14.968,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":14.968,"endTime":18.358,"body":"Hey, so the first thing I'd like to ask"},{"speaker":"Average Joe Finances","startTime":14.968,"endTime":18.358,"body":"you, I just wanna start this straight"},{"speaker":"Average Joe Finances","startTime":18.358,"endTime":22.798,"body":"off the bat, the same way we do every"},{"speaker":"Average Joe Finances","startTime":18.358,"endTime":22.798,"body":"episode and every guest that we have"},{"speaker":"Average Joe Finances","startTime":22.798,"endTime":24.778,"body":"on, is we wanna know more about you."},{"speaker":"Average Joe Finances","startTime":24.778,"endTime":28.318,"body":"So if you could share a little"},{"speaker":"Average Joe Finances","startTime":24.778,"endTime":28.318,"body":"bit about yourself, your story."},{"speaker":"Average Joe Finances","startTime":28.318,"endTime":30.188,"body":"Who is Brett Swarts?"},{"speaker":"Brett Swarts","startTime":30.898,"endTime":31.228,"body":"Yes."},{"speaker":"Brett Swarts","startTime":31.228,"endTime":35.798,"body":"So I grew up in Northern California,"},{"speaker":"Brett Swarts","startTime":31.228,"endTime":35.798,"body":"call it Taxifornia, and this"},{"speaker":"Brett Swarts","startTime":35.798,"endTime":37.688,"body":"is during the MC Hammer days."},{"speaker":"Brett Swarts","startTime":38.168,"endTime":42.308,"body":"My brother and I, my, my parents were"},{"speaker":"Brett Swarts","startTime":38.168,"endTime":42.308,"body":"building houses, mostly my parents,"},{"speaker":"Brett Swarts","startTime":42.308,"endTime":45.788,"body":"but we were helping out the best"},{"speaker":"Brett Swarts","startTime":42.308,"endTime":45.788,"body":"we could, learning how real estate"},{"speaker":"Brett Swarts","startTime":45.788,"endTime":50.678,"body":"works and how to cash flow and how to"},{"speaker":"Brett Swarts","startTime":45.788,"endTime":50.678,"body":"develop a project from ground up and"},{"speaker":"Brett Swarts","startTime":50.678,"endTime":51.848,"body":"fell in love with it at a young age."},{"speaker":"Brett Swarts","startTime":51.848,"endTime":52.538,"body":"It was really cool."},{"speaker":"Brett Swarts","startTime":52.538,"endTime":55.788,"body":"But my mom and dad had a better plan"},{"speaker":"Brett Swarts","startTime":52.538,"endTime":55.788,"body":"in some ways for us to go to college"},{"speaker":"Brett Swarts","startTime":55.888,"endTime":59.328,"body":"and to be the first one to get"},{"speaker":"Brett Swarts","startTime":55.888,"endTime":59.328,"body":"degrees and perhaps not work as hard"},{"speaker":"Brett Swarts","startTime":59.328,"endTime":60.828,"body":"with our hands, more with our minds."},{"speaker":"Brett Swarts","startTime":60.828,"endTime":61.638,"body":"And that's what we did."},{"speaker":"Brett Swarts","startTime":61.638,"endTime":65.118,"body":"We went to college and along the way had"},{"speaker":"Brett Swarts","startTime":61.638,"endTime":65.118,"body":"a chance to play some basketball and I"},{"speaker":"Brett Swarts","startTime":65.118,"endTime":67.908,"body":"got a scholarship in basketball college"},{"speaker":"Brett Swarts","startTime":65.118,"endTime":67.908,"body":"to play that was called a small private"},{"speaker":"Brett Swarts","startTime":67.908,"endTime":71.803,"body":"school and studied business, studied"},{"speaker":"Brett Swarts","startTime":67.908,"endTime":71.803,"body":"bible and theology and studied a minor in"},{"speaker":"Brett Swarts","startTime":71.803,"endTime":75.493,"body":"counseling psychology, but also studied"},{"speaker":"Brett Swarts","startTime":71.803,"endTime":75.493,"body":"in practice, multi-family brokers at"},{"speaker":"Brett Swarts","startTime":75.498,"endTime":77.313,"body":"a company called Marcus and Millichap."},{"speaker":"Brett Swarts","startTime":77.313,"endTime":81.223,"body":"And I fell in love with 1031"},{"speaker":"Brett Swarts","startTime":77.313,"endTime":81.223,"body":"exchanges and multi-family properties."},{"speaker":"Brett Swarts","startTime":81.493,"endTime":84.583,"body":"And so I came right out sprinting"},{"speaker":"Brett Swarts","startTime":81.493,"endTime":84.583,"body":"out of co out of college, ready to"},{"speaker":"Brett Swarts","startTime":84.583,"endTime":86.643,"body":"get going and things really excited."},{"speaker":"Brett Swarts","startTime":86.643,"endTime":88.893,"body":"This is like the 2006, 2007 timeframe."},{"speaker":"Brett Swarts","startTime":89.568,"endTime":93.978,"body":"And things were hot for a little while"},{"speaker":"Brett Swarts","startTime":89.568,"endTime":93.978,"body":"and then they came to a screeching halt"},{"speaker":"Brett Swarts","startTime":94.008,"endTime":97.578,"body":"and I went from making a little bit"},{"speaker":"Brett Swarts","startTime":94.008,"endTime":97.578,"body":"of money to like nothing overnight."},{"speaker":"Brett Swarts","startTime":97.908,"endTime":101.038,"body":"And for the first time in my life"},{"speaker":"Brett Swarts","startTime":97.908,"endTime":101.038,"body":"I've, all of a sudden started"},{"speaker":"Brett Swarts","startTime":101.038,"endTime":104.138,"body":"to feel a lot of pressure cause"},{"speaker":"Brett Swarts","startTime":101.038,"endTime":104.138,"body":"I was, an adult at this point."},{"speaker":"Brett Swarts","startTime":104.138,"endTime":104.838,"body":"My wife and I are married."},{"speaker":"Brett Swarts","startTime":105.493,"endTime":110.113,"body":"New baby on the way, and"},{"speaker":"Brett Swarts","startTime":105.493,"endTime":110.113,"body":"essentially I'm making zero at a"},{"speaker":"Brett Swarts","startTime":110.113,"endTime":111.733,"body":"commercial real estate brokerage."},{"speaker":"Brett Swarts","startTime":112.033,"endTime":114.913,"body":"And so I did what every good, I"},{"speaker":"Brett Swarts","startTime":112.033,"endTime":114.913,"body":"guess entrepreneur or real estate"},{"speaker":"Brett Swarts","startTime":114.918,"endTime":116.503,"body":"wannabe does you get a side hustle."},{"speaker":"Brett Swarts","startTime":116.893,"endTime":120.138,"body":"My side hustle was working at a"},{"speaker":"Brett Swarts","startTime":116.893,"endTime":120.138,"body":"place called Cheesecake Factory."},{"speaker":"Brett Swarts","startTime":120.188,"endTime":123.578,"body":"I worked nights and weekends serving"},{"speaker":"Brett Swarts","startTime":120.188,"endTime":123.578,"body":"cheesecake and keeping the lights on."},{"speaker":"Brett Swarts","startTime":123.938,"endTime":127.208,"body":"70 hour weeks, my day to make cold"},{"speaker":"Brett Swarts","startTime":123.938,"endTime":127.208,"body":"calls, negotiate with banks and"},{"speaker":"Brett Swarts","startTime":127.208,"endTime":129.908,"body":"help my clients because they were"},{"speaker":"Brett Swarts","startTime":127.208,"endTime":129.908,"body":"going through a challenge too."},{"speaker":"Brett Swarts","startTime":130.298,"endTime":133.268,"body":"They had too much debt, not enough"},{"speaker":"Brett Swarts","startTime":130.298,"endTime":133.268,"body":"liquidity, and they were losing half for"},{"speaker":"Brett Swarts","startTime":133.268,"endTime":135.698,"body":"all of their wealth, millions of dollars."},{"speaker":"Brett Swarts","startTime":135.938,"endTime":137.947,"body":"We were just trying to get,"},{"speaker":"Brett Swarts","startTime":135.938,"endTime":137.947,"body":"hundreds of dollars to come"},{"speaker":"Brett Swarts","startTime":138.247,"endTime":139.327,"body":"in if he have the groceries."},{"speaker":"Brett Swarts","startTime":139.327,"endTime":141.457,"body":"And so the other part of this"},{"speaker":"Brett Swarts","startTime":139.327,"endTime":141.457,"body":"story too is my parents were"},{"speaker":"Brett Swarts","startTime":141.457,"endTime":142.627,"body":"very wealthy at a young age."},{"speaker":"Brett Swarts","startTime":143.177,"endTime":144.247,"body":"And then they got divorced."},{"speaker":"Brett Swarts","startTime":144.517,"endTime":146.827,"body":"And so my brother and I"},{"speaker":"Brett Swarts","startTime":144.517,"endTime":146.827,"body":"saw two sides of wealth."},{"speaker":"Brett Swarts","startTime":146.827,"endTime":150.397,"body":"The first side was my dad, who had all the"},{"speaker":"Brett Swarts","startTime":146.827,"endTime":150.397,"body":"money, didn't really pay any child support"},{"speaker":"Brett Swarts","startTime":150.797,"endTime":153.072,"body":"but he would definitely take care of us"},{"speaker":"Brett Swarts","startTime":150.797,"endTime":153.072,"body":"when we went over there and he had the"},{"speaker":"Brett Swarts","startTime":153.072,"endTime":157.362,"body":"Harleys and the boats and we went camping"},{"speaker":"Brett Swarts","startTime":153.072,"endTime":157.362,"body":"and the trips and all the fun stuff."},{"speaker":"Brett Swarts","startTime":157.572,"endTime":158.927,"body":"So he'd spoil us when we were there."},{"speaker":"Brett Swarts","startTime":158.927,"endTime":160.422,"body":"And if we ever needed anything,"},{"speaker":"Brett Swarts","startTime":158.927,"endTime":160.422,"body":"he would give it to us."},{"speaker":"Brett Swarts","startTime":160.422,"endTime":163.662,"body":"But 90% of the time we was my mom"},{"speaker":"Brett Swarts","startTime":160.422,"endTime":163.662,"body":"and he didn't pay child support."},{"speaker":"Brett Swarts","startTime":163.662,"endTime":165.772,"body":"And so we're living with my"},{"speaker":"Brett Swarts","startTime":163.662,"endTime":165.772,"body":"grandma in a in our house and"},{"speaker":"Brett Swarts","startTime":165.782,"endTime":166.952,"body":"trying to make every ends meet."},{"speaker":"Brett Swarts","startTime":167.262,"endTime":170.107,"body":"And fast forward, I'm going,"},{"speaker":"Brett Swarts","startTime":167.262,"endTime":170.107,"body":"oh my gosh, I'm newly married."},{"speaker":"Brett Swarts","startTime":170.327,"endTime":172.607,"body":"And all of a sudden this financial"},{"speaker":"Brett Swarts","startTime":170.327,"endTime":172.607,"body":"pressure's hitting right?"},{"speaker":"Brett Swarts","startTime":172.907,"endTime":175.097,"body":"And you went, you go, all of"},{"speaker":"Brett Swarts","startTime":172.907,"endTime":175.097,"body":"these fears and all of these"},{"speaker":"Brett Swarts","startTime":175.097,"endTime":176.297,"body":"things started to bubble up."},{"speaker":"Brett Swarts","startTime":176.537,"endTime":180.197,"body":"And I never wanted finances to"},{"speaker":"Brett Swarts","startTime":176.537,"endTime":180.197,"body":"come in between me and my family."},{"speaker":"Brett Swarts","startTime":180.477,"endTime":182.967,"body":"And that was part of my determination,"},{"speaker":"Brett Swarts","startTime":180.477,"endTime":182.967,"body":"I think, to work hard and get"},{"speaker":"Brett Swarts","startTime":182.967,"endTime":184.407,"body":"a degree and get a good job."},{"speaker":"Brett Swarts","startTime":184.412,"endTime":186.837,"body":"And I'm going through this struggle,"},{"speaker":"Brett Swarts","startTime":184.412,"endTime":186.837,"body":"this just financial struggle."},{"speaker":"Brett Swarts","startTime":186.842,"endTime":190.102,"body":"But my wife believed in what we"},{"speaker":"Brett Swarts","startTime":186.842,"endTime":190.102,"body":"were doing enough to live with"},{"speaker":"Brett Swarts","startTime":190.102,"endTime":191.182,"body":"my brother in a small condo."},{"speaker":"Brett Swarts","startTime":191.182,"endTime":192.802,"body":"Me, her, and him and the baby."},{"speaker":"Brett Swarts","startTime":193.512,"endTime":196.662,"body":"And to allow me to work side"},{"speaker":"Brett Swarts","startTime":193.512,"endTime":196.662,"body":"hustles to keep the lights going."},{"speaker":"Brett Swarts","startTime":197.142,"endTime":199.362,"body":"During this time, I learned about the"},{"speaker":"Brett Swarts","startTime":197.142,"endTime":199.362,"body":"deferred sales trust, which we're gonna"},{"speaker":"Brett Swarts","startTime":199.362,"endTime":203.052,"body":"talking about here in a minute, which"},{"speaker":"Brett Swarts","startTime":199.362,"endTime":203.052,"body":"unlocked some freedoms for some clients"},{"speaker":"Brett Swarts","startTime":203.112,"endTime":207.162,"body":"and really helped them to eliminate"},{"speaker":"Brett Swarts","startTime":203.112,"endTime":207.162,"body":"the 1031 exchange as we learned about"},{"speaker":"Brett Swarts","startTime":207.162,"endTime":212.237,"body":"it, because their same problem we"},{"speaker":"Brett Swarts","startTime":207.162,"endTime":212.237,"body":"identified was the ability to get"},{"speaker":"Brett Swarts","startTime":212.237,"endTime":214.517,"body":"the freedom from the 1031 exchange."},{"speaker":"Brett Swarts","startTime":214.517,"endTime":217.487,"body":"They were overpaying for"},{"speaker":"Brett Swarts","startTime":214.517,"endTime":217.487,"body":"properties and taking on too"},{"speaker":"Brett Swarts","startTime":217.487,"endTime":219.107,"body":"much debt, not enough liquidity."},{"speaker":"Brett Swarts","startTime":219.317,"endTime":220.637,"body":"So I said, here's a freedom for you."},{"speaker":"Brett Swarts","startTime":220.637,"endTime":222.977,"body":"If we had a chance to do this"},{"speaker":"Brett Swarts","startTime":220.637,"endTime":222.977,"body":"all over again, what would we do?"},{"speaker":"Brett Swarts","startTime":223.397,"endTime":225.947,"body":"And so fast forward, my"},{"speaker":"Brett Swarts","startTime":223.397,"endTime":225.947,"body":"business started to grow."},{"speaker":"Brett Swarts","startTime":226.067,"endTime":227.657,"body":"I was able to retire from"},{"speaker":"Brett Swarts","startTime":226.067,"endTime":227.657,"body":"the Cheesecake Factory."},{"speaker":"Brett Swarts","startTime":227.662,"endTime":228.537,"body":"My wife and I have five kids."},{"speaker":"Brett Swarts","startTime":228.877,"endTime":232.577,"body":"We live in two places,"},{"speaker":"Brett Swarts","startTime":228.877,"endTime":232.577,"body":"Taxifornia about 49% of the time."},{"speaker":"Brett Swarts","startTime":232.577,"endTime":233.117,"body":"And then St."},{"speaker":"Brett Swarts","startTime":233.117,"endTime":235.307,"body":"Augustine, Florida about 51% of the time."},{"speaker":"Brett Swarts","startTime":235.607,"endTime":237.257,"body":"And we teach and train in."},{"speaker":"Brett Swarts","startTime":237.347,"endTime":239.357,"body":"People how to get freedom when exiting."},{"speaker":"Brett Swarts","startTime":239.362,"endTime":243.017,"body":"Highly appreciated assets of any kind,"},{"speaker":"Brett Swarts","startTime":239.362,"endTime":243.017,"body":"and this is what brings us here today."},{"speaker":"Average Joe Finances","startTime":244.127,"endTime":246.047,"body":"Brett, that,"},{"speaker":"Average Joe Finances","startTime":244.127,"endTime":246.047,"body":"that is an awesome background."},{"speaker":"Average Joe Finances","startTime":246.047,"endTime":249.167,"body":"You got me cracking up over here as"},{"speaker":"Average Joe Finances","startTime":246.047,"endTime":249.167,"body":"you're going, I'm sitting here writing"},{"speaker":"Average Joe Finances","startTime":249.167,"endTime":251.867,"body":"notes and I, one of the things I"},{"speaker":"Average Joe Finances","startTime":249.167,"endTime":251.867,"body":"thought that was really funny is as"},{"speaker":"Average Joe Finances","startTime":251.867,"endTime":252.708,"body":"you're going, he's yeah, you know how."},{"speaker":"Average Joe Finances","startTime":253.347,"endTime":256.097,"body":"Every, when you come out to college,"},{"speaker":"Average Joe Finances","startTime":253.347,"endTime":256.097,"body":"a lot of people, they wanna get a side"},{"speaker":"Average Joe Finances","startTime":256.097,"endTime":257.477,"body":"hustle and figure out what they're doing."},{"speaker":"Average Joe Finances","startTime":257.837,"endTime":261.107,"body":"And you're talking about how your"},{"speaker":"Average Joe Finances","startTime":257.837,"endTime":261.107,"body":"side hustle was Cheesecake Factory."},{"speaker":"Average Joe Finances","startTime":261.317,"endTime":264.017,"body":"Most people would say that they got"},{"speaker":"Average Joe Finances","startTime":261.317,"endTime":264.017,"body":"their job at Cheesecake Factory and"},{"speaker":"Average Joe Finances","startTime":264.022,"endTime":266.447,"body":"their side hustle was making these phone"},{"speaker":"Average Joe Finances","startTime":264.022,"endTime":266.447,"body":"calls and getting into real estate."},{"speaker":"Average Joe Finances","startTime":266.497,"endTime":268.547,"body":"But your mindset was like,"},{"speaker":"Average Joe Finances","startTime":266.497,"endTime":268.547,"body":"no, that's my main job."},{"speaker":"Average Joe Finances","startTime":269.177,"endTime":271.157,"body":"Just the side hustle"},{"speaker":"Average Joe Finances","startTime":269.177,"endTime":271.157,"body":"is Cheesecake Factory."},{"speaker":"Average Joe Finances","startTime":271.157,"endTime":273.047,"body":"I'm doing that to make a"},{"speaker":"Average Joe Finances","startTime":271.157,"endTime":273.047,"body":"little cash to pay the bills."},{"speaker":"Average Joe Finances","startTime":273.357,"endTime":275.787,"body":"So I really like that way of thinking."},{"speaker":"Average Joe Finances","startTime":275.967,"endTime":279.717,"body":"I've never heard anybody talk about"},{"speaker":"Average Joe Finances","startTime":275.967,"endTime":279.717,"body":"it like that before, so I just"},{"speaker":"Average Joe Finances","startTime":279.722,"endTime":281.577,"body":"wanna say that's freaking awesome."},{"speaker":"Average Joe Finances","startTime":281.587,"endTime":282.997,"body":"And it made me chuckle"},{"speaker":"Average Joe Finances","startTime":281.587,"endTime":282.997,"body":"while you were doing it."},{"speaker":"Average Joe Finances","startTime":282.997,"endTime":283.417,"body":"I was like okay."},{"speaker":"Average Joe Finances","startTime":283.422,"endTime":283.822,"body":"This is pretty cool."},{"speaker":"Average Joe Finances","startTime":284.182,"endTime":288.372,"body":"But as you were going, you got into your"},{"speaker":"Average Joe Finances","startTime":284.182,"endTime":288.372,"body":"background and I just wanna dive a little"},{"speaker":"Average Joe Finances","startTime":288.372,"endTime":289.872,"body":"bit deeper into a couple things here."},{"speaker":"Average Joe Finances","startTime":290.212,"endTime":290.992,"body":"You got to see."},{"speaker":"Average Joe Finances","startTime":291.412,"endTime":295.682,"body":"Two sides of what happens, or you"},{"speaker":"Average Joe Finances","startTime":291.412,"endTime":295.682,"body":"got to see some of the unfortunate"},{"speaker":"Average Joe Finances","startTime":295.682,"endTime":298.872,"body":"thing that a lot of kids see when"},{"speaker":"Average Joe Finances","startTime":295.682,"endTime":298.872,"body":"their parents get divorced is it"},{"speaker":"Average Joe Finances","startTime":298.872,"endTime":300.132,"body":"becomes a little bit lopsided, right?"},{"speaker":"Average Joe Finances","startTime":300.137,"endTime":301.367,"body":"With where the finances go."},{"speaker":"Average Joe Finances","startTime":301.907,"endTime":305.462,"body":"And, I'm glad that your father was able"},{"speaker":"Average Joe Finances","startTime":301.907,"endTime":305.462,"body":"to take care of you guys, and all that"},{"speaker":"Average Joe Finances","startTime":305.462,"endTime":306.812,"body":"stuff and make sure everything was good."},{"speaker":"Average Joe Finances","startTime":307.202,"endTime":310.322,"body":"But I understand what you're talking"},{"speaker":"Average Joe Finances","startTime":307.202,"endTime":310.322,"body":"about when you know, when you had that"},{"speaker":"Average Joe Finances","startTime":310.322,"endTime":313.412,"body":"struggle and had to move in with your"},{"speaker":"Average Joe Finances","startTime":310.322,"endTime":313.412,"body":"grandmother and all that stuff like"},{"speaker":"Average Joe Finances","startTime":313.417,"endTime":315.177,"body":"that stuff's not easy for a young man."},{"speaker":"Average Joe Finances","startTime":315.227,"endTime":318.291,"body":"And going through that, do you think"},{"speaker":"Average Joe Finances","startTime":315.227,"endTime":318.291,"body":"that's some of those hardships that"},{"speaker":"Average Joe Finances","startTime":318.291,"endTime":321.231,"body":"you faced when you were young, do"},{"speaker":"Average Joe Finances","startTime":318.291,"endTime":321.231,"body":"you believe that's one of the things"},{"speaker":"Average Joe Finances","startTime":321.231,"endTime":325.321,"body":"that kind of shaped your character"},{"speaker":"Average Joe Finances","startTime":321.231,"endTime":325.321,"body":"into, that mindset that you had"},{"speaker":"Average Joe Finances","startTime":325.326,"endTime":329.941,"body":"mentioned, like you don't want to have"},{"speaker":"Average Joe Finances","startTime":325.326,"endTime":329.941,"body":"finances be an issue in your marriage."},{"speaker":"Average Joe Finances","startTime":329.996,"endTime":331.496,"body":"Do you think that's one of the"},{"speaker":"Average Joe Finances","startTime":329.996,"endTime":331.496,"body":"things that helped shape that?"},{"speaker":"Brett Swarts","startTime":332.306,"endTime":333.056,"body":"Yeah, a hundred percent."},{"speaker":"Brett Swarts","startTime":333.056,"endTime":335.996,"body":"These are all opportunities"},{"speaker":"Brett Swarts","startTime":333.056,"endTime":335.996,"body":"to grow and to persevere."},{"speaker":"Brett Swarts","startTime":335.996,"endTime":339.116,"body":"And I'm a believer, I have faith in"},{"speaker":"Brett Swarts","startTime":335.996,"endTime":339.116,"body":"God and Jesus, and I believe that"},{"speaker":"Brett Swarts","startTime":339.116,"endTime":342.026,"body":"he gives us opportunities to grow"},{"speaker":"Brett Swarts","startTime":339.116,"endTime":342.026,"body":"during these challenging times."},{"speaker":"Brett Swarts","startTime":342.026,"endTime":345.116,"body":"And then that forges the grit and"},{"speaker":"Brett Swarts","startTime":342.026,"endTime":345.116,"body":"the resilience to, to face things"},{"speaker":"Brett Swarts","startTime":345.121,"endTime":347.857,"body":"in the future to help more people"},{"speaker":"Brett Swarts","startTime":345.121,"endTime":347.857,"body":"with whatever they're going through."},{"speaker":"Brett Swarts","startTime":348.066,"endTime":350.091,"body":"And yeah, a hundred percent it was tough."},{"speaker":"Brett Swarts","startTime":350.091,"endTime":352.691,"body":"At the same time, you're like, 6,"},{"speaker":"Brett Swarts","startTime":350.091,"endTime":352.691,"body":"7, 8 is kinda when it happened."},{"speaker":"Brett Swarts","startTime":352.721,"endTime":355.691,"body":"You start to notice about 14,"},{"speaker":"Brett Swarts","startTime":352.721,"endTime":355.691,"body":"15, like really what happened?"},{"speaker":"Brett Swarts","startTime":356.051,"endTime":358.421,"body":"And then you start to ask the"},{"speaker":"Brett Swarts","startTime":356.051,"endTime":358.421,"body":"questions about like 16 and all of a"},{"speaker":"Brett Swarts","startTime":358.421,"endTime":359.561,"body":"sudden you're like, oh, what this is?"},{"speaker":"Brett Swarts","startTime":359.561,"endTime":360.726,"body":"And then you're like, you get angry."},{"speaker":"Brett Swarts","startTime":360.726,"endTime":362.611,"body":"And there was two, two ways"},{"speaker":"Brett Swarts","startTime":360.726,"endTime":362.611,"body":"that could have went with that."},{"speaker":"Brett Swarts","startTime":362.611,"endTime":364.471,"body":"Like it could have been"},{"speaker":"Brett Swarts","startTime":362.611,"endTime":364.471,"body":"really anger toward my dad."},{"speaker":"Brett Swarts","startTime":364.771,"endTime":366.871,"body":"It could also be just love"},{"speaker":"Brett Swarts","startTime":364.771,"endTime":366.871,"body":"and compassion to know that,"},{"speaker":"Brett Swarts","startTime":366.871,"endTime":367.711,"body":"things don't work out sometimes."},{"speaker":"Brett Swarts","startTime":367.931,"endTime":370.511,"body":"And how do we still keep the"},{"speaker":"Brett Swarts","startTime":367.931,"endTime":370.511,"body":"relationship going with the family and"},{"speaker":"Brett Swarts","startTime":370.511,"endTime":372.571,"body":"fortunately my mom was was kind enough."},{"speaker":"Brett Swarts","startTime":372.571,"endTime":375.301,"body":"And I also a believer to tell him"},{"speaker":"Brett Swarts","startTime":372.571,"endTime":375.301,"body":"to love him even though there was"},{"speaker":"Brett Swarts","startTime":375.301,"endTime":377.791,"body":"some challenging things that he"},{"speaker":"Brett Swarts","startTime":375.301,"endTime":377.791,"body":"did and didn't do in the past."},{"speaker":"Brett Swarts","startTime":377.791,"endTime":378.871,"body":"And yeah, it was all of those things."},{"speaker":"Brett Swarts","startTime":378.871,"endTime":380.491,"body":"It was faith, it was perseverance."},{"speaker":"Brett Swarts","startTime":380.521,"endTime":381.841,"body":"It's a part of who I am today and."},{"speaker":"Brett Swarts","startTime":382.331,"endTime":385.471,"body":"And it's also given me a chance to"},{"speaker":"Brett Swarts","startTime":382.331,"endTime":385.471,"body":"relate and be empathetic with people"},{"speaker":"Brett Swarts","startTime":385.471,"endTime":386.486,"body":"who have gone through a divorce."},{"speaker":"Brett Swarts","startTime":386.886,"endTime":390.096,"body":"My wife and I have been married 13 years,"},{"speaker":"Brett Swarts","startTime":386.886,"endTime":390.096,"body":"almost 14 now, and it's been amazing."},{"speaker":"Brett Swarts","startTime":390.376,"endTime":391.216,"body":"But it's happens."},{"speaker":"Brett Swarts","startTime":391.216,"endTime":394.551,"body":"50% of all marriages end in divorce"},{"speaker":"Brett Swarts","startTime":391.216,"endTime":394.551,"body":"and kids have gone through it."},{"speaker":"Brett Swarts","startTime":394.851,"endTime":397.431,"body":"But I just feel fortunate that I"},{"speaker":"Brett Swarts","startTime":394.851,"endTime":397.431,"body":"was, I had a lot of good coaches and."},{"speaker":"Brett Swarts","startTime":397.741,"endTime":398.971,"body":"Basketball and football."},{"speaker":"Brett Swarts","startTime":398.971,"endTime":402.491,"body":"And I had a lot of good youth"},{"speaker":"Brett Swarts","startTime":398.971,"endTime":402.491,"body":"pastors and good mentors and"},{"speaker":"Brett Swarts","startTime":402.491,"endTime":403.871,"body":"older brother, older cousins."},{"speaker":"Brett Swarts","startTime":404.291,"endTime":407.141,"body":"So there was always really"},{"speaker":"Brett Swarts","startTime":404.291,"endTime":407.141,"body":"good father figures in my life."},{"speaker":"Brett Swarts","startTime":407.301,"endTime":410.291,"body":"But these are the things that"},{"speaker":"Brett Swarts","startTime":407.301,"endTime":410.291,"body":"sometimes happen and it's our"},{"speaker":"Brett Swarts","startTime":410.291,"endTime":411.726,"body":"choice to make the best of them."},{"speaker":"Brett Swarts","startTime":411.726,"endTime":413.707,"body":"And I was fortunate enough to have a"},{"speaker":"Brett Swarts","startTime":411.726,"endTime":413.707,"body":"lot of good people around me as well."},{"speaker":"Average Joe Finances","startTime":414.491,"endTime":416.311,"body":"Yeah, Brett I"},{"speaker":"Average Joe Finances","startTime":414.491,"endTime":416.311,"body":"just wanna say I really appreciate"},{"speaker":"Average Joe Finances","startTime":416.371,"endTime":419.681,"body":"how deep you went on that, and"},{"speaker":"Average Joe Finances","startTime":416.371,"endTime":419.681,"body":"sharing something so personal."},{"speaker":"Average Joe Finances","startTime":419.841,"endTime":421.811,"body":"So far our listeners here,"},{"speaker":"Average Joe Finances","startTime":419.841,"endTime":421.811,"body":"that, that's just amazing, man."},{"speaker":"Average Joe Finances","startTime":421.811,"endTime":425.786,"body":"So it gives us a really good background"},{"speaker":"Average Joe Finances","startTime":421.811,"endTime":425.786,"body":"of your character and who you are, right?"},{"speaker":"Average Joe Finances","startTime":425.986,"endTime":427.156,"body":"So I definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":427.446,"endTime":431.991,"body":"Now, As you f you know, fast forward"},{"speaker":"Average Joe Finances","startTime":427.446,"endTime":431.991,"body":"to, when you were doing your internship"},{"speaker":"Average Joe Finances","startTime":431.991,"endTime":433.161,"body":"with Marcus and Millichap, right?"},{"speaker":"Average Joe Finances","startTime":433.161,"endTime":435.801,"body":"You started to see some of the"},{"speaker":"Average Joe Finances","startTime":433.161,"endTime":435.801,"body":"things they were doing right?"},{"speaker":"Average Joe Finances","startTime":435.991,"endTime":437.911,"body":"You learned about the 1031 exchange."},{"speaker":"Average Joe Finances","startTime":437.911,"endTime":443.411,"body":"You learned about how, people can save"},{"speaker":"Average Joe Finances","startTime":437.911,"endTime":443.411,"body":"on taxes and not lose large chunks"},{"speaker":"Average Joe Finances","startTime":443.416,"endTime":447.221,"body":"of their wealth because they made"},{"speaker":"Average Joe Finances","startTime":443.416,"endTime":447.221,"body":"a sale of an investment property."},{"speaker":"Average Joe Finances","startTime":447.651,"endTime":448.251,"body":"But then you."},{"speaker":"Average Joe Finances","startTime":448.536,"endTime":450.011,"body":"You went a little bit deeper too, right?"},{"speaker":"Average Joe Finances","startTime":450.011,"endTime":452.261,"body":"You talked about the"},{"speaker":"Average Joe Finances","startTime":450.011,"endTime":452.261,"body":"deferred sales trust, right?"},{"speaker":"Average Joe Finances","startTime":452.501,"endTime":454.511,"body":"So I'd like to dive a"},{"speaker":"Average Joe Finances","startTime":452.501,"endTime":454.511,"body":"little bit into that."},{"speaker":"Average Joe Finances","startTime":454.511,"endTime":456.851,"body":"If you could share with us"},{"speaker":"Average Joe Finances","startTime":454.511,"endTime":456.851,"body":"what is a deferred sales trust."},{"speaker":"Average Joe Finances","startTime":456.851,"endTime":460.111,"body":"Because I hear that and I was"},{"speaker":"Average Joe Finances","startTime":456.851,"endTime":460.111,"body":"like, I know what a DST is, but"},{"speaker":"Average Joe Finances","startTime":460.141,"endTime":461.521,"body":"what's a deferred sales trust?"},{"speaker":"Brett Swarts","startTime":462.476,"endTime":464.456,"body":"Yeah, we'll talk"},{"speaker":"Brett Swarts","startTime":462.476,"endTime":464.456,"body":"with kind of the the big view and"},{"speaker":"Brett Swarts","startTime":464.456,"endTime":465.476,"body":"then we'll get technical, right?"},{"speaker":"Brett Swarts","startTime":465.716,"endTime":470.516,"body":"So to me it's the single best way to"},{"speaker":"Brett Swarts","startTime":465.716,"endTime":470.516,"body":"exit highly appreciated assets and really"},{"speaker":"Brett Swarts","startTime":470.516,"endTime":475.136,"body":"access 10 major freedoms that we're"},{"speaker":"Brett Swarts","startTime":470.516,"endTime":475.136,"body":"generally financially are all looking for."},{"speaker":"Brett Swarts","startTime":475.596,"endTime":479.466,"body":"And most blockbuster ways of exit"},{"speaker":"Brett Swarts","startTime":475.596,"endTime":479.466,"body":"planning or getting out of assets"},{"speaker":"Brett Swarts","startTime":479.471,"endTime":481.086,"body":"provide some of those freedoms."},{"speaker":"Brett Swarts","startTime":481.436,"endTime":484.126,"body":"But likely they don't provide"},{"speaker":"Brett Swarts","startTime":481.436,"endTime":484.126,"body":"typically more than three,"},{"speaker":"Brett Swarts","startTime":484.456,"endTime":486.556,"body":"but we get to access about 10."},{"speaker":"Brett Swarts","startTime":486.556,"endTime":490.116,"body":"And During that 2008 crash of"},{"speaker":"Brett Swarts","startTime":486.556,"endTime":490.116,"body":"2011, that's when real estate"},{"speaker":"Brett Swarts","startTime":490.116,"endTime":491.316,"body":"really, took a swing there."},{"speaker":"Brett Swarts","startTime":491.646,"endTime":493.946,"body":"It wasn't until the bottom of 2011"},{"speaker":"Brett Swarts","startTime":491.646,"endTime":493.946,"body":"that, real estate was at the bottom."},{"speaker":"Brett Swarts","startTime":494.276,"endTime":498.476,"body":"I started to actually see, feel, and"},{"speaker":"Brett Swarts","startTime":494.276,"endTime":498.476,"body":"touch the people who were getting"},{"speaker":"Brett Swarts","startTime":498.481,"endTime":500.276,"body":"hurt and hammered and crushed."},{"speaker":"Brett Swarts","startTime":500.316,"endTime":503.086,"body":"And that's when you start to"},{"speaker":"Brett Swarts","startTime":500.316,"endTime":503.086,"body":"see it's not just 1031 freedom."},{"speaker":"Brett Swarts","startTime":503.156,"endTime":506.146,"body":"It's not just financial"},{"speaker":"Brett Swarts","startTime":503.156,"endTime":506.146,"body":"freedom, it's also debt freedom."},{"speaker":"Brett Swarts","startTime":506.146,"endTime":507.616,"body":"It's also diversification freedom."},{"speaker":"Brett Swarts","startTime":507.856,"endTime":509.056,"body":"It's also location freedom."},{"speaker":"Brett Swarts","startTime":509.056,"endTime":510.526,"body":"It's also obviously time freedom."},{"speaker":"Brett Swarts","startTime":510.826,"endTime":512.386,"body":"It's also entrepreneurial freedom."},{"speaker":"Brett Swarts","startTime":512.386,"endTime":515.576,"body":"It could be estate tax freedom"},{"speaker":"Brett Swarts","startTime":512.386,"endTime":515.576,"body":"it could be partnership freedom."},{"speaker":"Brett Swarts","startTime":515.926,"endTime":520.156,"body":"You start to add these things up and"},{"speaker":"Brett Swarts","startTime":515.926,"endTime":520.156,"body":"everybody has something that they're"},{"speaker":"Brett Swarts","startTime":520.156,"endTime":521.087,"body":"looking for some kind of freedom."},{"speaker":"Brett Swarts","startTime":521.646,"endTime":524.716,"body":"And one of the biggest things"},{"speaker":"Brett Swarts","startTime":521.646,"endTime":524.716,"body":"that's a barrier to these assets"},{"speaker":"Brett Swarts","startTime":524.716,"endTime":526.576,"body":"being sold is capital gain tax."},{"speaker":"Brett Swarts","startTime":526.576,"endTime":531.016,"body":"And it's somewhere between"},{"speaker":"Brett Swarts","startTime":526.576,"endTime":531.016,"body":"25% basically to up to 50%."},{"speaker":"Brett Swarts","startTime":531.351,"endTime":535.731,"body":"Of all assets sold are gonna be"},{"speaker":"Brett Swarts","startTime":531.351,"endTime":535.731,"body":"subject to 25% to 50% capital gains"},{"speaker":"Brett Swarts","startTime":535.731,"endTime":539.121,"body":"tax, depending on the depreciation,"},{"speaker":"Brett Swarts","startTime":535.731,"endTime":539.121,"body":"recapture and the state in which you"},{"speaker":"Brett Swarts","startTime":539.121,"endTime":540.471,"body":"live in and all these kind of things."},{"speaker":"Brett Swarts","startTime":540.471,"endTime":542.181,"body":"But that's a big amount."},{"speaker":"Brett Swarts","startTime":542.241,"endTime":542.661,"body":"Right?"},{"speaker":"Brett Swarts","startTime":542.661,"endTime":545.991,"body":"And in fact, the American Bankers"},{"speaker":"Brett Swarts","startTime":542.661,"endTime":545.991,"body":"Association did a study and they found"},{"speaker":"Brett Swarts","startTime":545.996,"endTime":549.831,"body":"there's about 10,000 baby boomers"},{"speaker":"Brett Swarts","startTime":545.996,"endTime":549.831,"body":"turning 65 every single day in the"},{"speaker":"Brett Swarts","startTime":549.831,"endTime":556.286,"body":"us and there's 77 million in the US"},{"speaker":"Brett Swarts","startTime":549.831,"endTime":556.286,"body":"alone and they're retiring, right?"},{"speaker":"Brett Swarts","startTime":556.286,"endTime":560.126,"body":"And they are they're passing their"},{"speaker":"Brett Swarts","startTime":556.286,"endTime":560.126,"body":"wealth to the next generation."},{"speaker":"Brett Swarts","startTime":560.546,"endTime":563.456,"body":"This is our parents to us in the"},{"speaker":"Brett Swarts","startTime":560.546,"endTime":563.456,"body":"next 20 years, and this is known"},{"speaker":"Brett Swarts","startTime":563.461,"endTime":567.266,"body":"as the largest wealth transfer"},{"speaker":"Brett Swarts","startTime":563.461,"endTime":567.266,"body":"in the history of the planet."},{"speaker":"Brett Swarts","startTime":568.481,"endTime":571.781,"body":"So if you think about that one single"},{"speaker":"Brett Swarts","startTime":568.481,"endTime":571.781,"body":"concept right now, then you wanna ask"},{"speaker":"Brett Swarts","startTime":571.781,"endTime":573.071,"body":"yourself the next technical question."},{"speaker":"Brett Swarts","startTime":573.121,"endTime":576.891,"body":"How much of that wealth is tied into"},{"speaker":"Brett Swarts","startTime":573.121,"endTime":576.891,"body":"high-end primary homes into Hawaii,"},{"speaker":"Brett Swarts","startTime":577.201,"endTime":581.261,"body":"in the Bay Area and New York and"},{"speaker":"Brett Swarts","startTime":577.201,"endTime":581.261,"body":"major areas, LA, San Diego, Chicago."},{"speaker":"Brett Swarts","startTime":581.501,"endTime":583.871,"body":"How much is tied into"},{"speaker":"Brett Swarts","startTime":581.501,"endTime":583.871,"body":"commercial real estate?"},{"speaker":"Brett Swarts","startTime":584.031,"endTime":586.961,"body":"How much is tied into"},{"speaker":"Brett Swarts","startTime":584.031,"endTime":586.961,"body":"private equity or businesses?"},{"speaker":"Brett Swarts","startTime":586.961,"endTime":588.371,"body":"And the answer is 50%."},{"speaker":"Brett Swarts","startTime":588.616,"endTime":592.816,"body":"In fact, 50% of the total net worth"},{"speaker":"Brett Swarts","startTime":588.616,"endTime":592.816,"body":"of America is tied to illiquid"},{"speaker":"Brett Swarts","startTime":592.816,"endTime":595.366,"body":"assets that are highly appreciated."},{"speaker":"Brett Swarts","startTime":595.756,"endTime":598.186,"body":"And this is gonna be the biggest"},{"speaker":"Brett Swarts","startTime":595.756,"endTime":598.186,"body":"transfer in the history of the"},{"speaker":"Brett Swarts","startTime":598.191,"endTime":602.056,"body":"planet of wealth that we know of"},{"speaker":"Brett Swarts","startTime":598.191,"endTime":602.056,"body":"and so we've got this window here"},{"speaker":"Brett Swarts","startTime":602.356,"endTime":603.676,"body":"to unlock some of these freedoms."},{"speaker":"Brett Swarts","startTime":603.676,"endTime":604.456,"body":"And what are some of these freedoms?"},{"speaker":"Brett Swarts","startTime":604.456,"endTime":605.411,"body":"People wanna retire, of course."},{"speaker":"Brett Swarts","startTime":605.416,"endTime":606.161,"body":"That's part of it, right?"},{"speaker":"Brett Swarts","startTime":606.166,"endTime":607.761,"body":"But they also want to be able to."},{"speaker":"Brett Swarts","startTime":608.631,"endTime":611.691,"body":"Maybe be entrepreneurial, maybe to"},{"speaker":"Brett Swarts","startTime":608.631,"endTime":611.691,"body":"separate from that partner maybe"},{"speaker":"Brett Swarts","startTime":611.691,"endTime":614.851,"body":"to develop that project maybe to"},{"speaker":"Brett Swarts","startTime":611.691,"endTime":614.851,"body":"get out of that cryptocurrency,"},{"speaker":"Brett Swarts","startTime":614.881,"endTime":616.531,"body":"maybe to get out of that stock."},{"speaker":"Brett Swarts","startTime":616.931,"endTime":618.311,"body":"And all of these things are happening."},{"speaker":"Brett Swarts","startTime":618.311,"endTime":621.251,"body":"The question is how do you"},{"speaker":"Brett Swarts","startTime":618.311,"endTime":621.251,"body":"defer the capital gains tax?"},{"speaker":"Brett Swarts","startTime":621.626,"endTime":624.296,"body":"And still be able to be passive or active."},{"speaker":"Brett Swarts","startTime":624.296,"endTime":626.846,"body":"And that's the coolest thing about"},{"speaker":"Brett Swarts","startTime":624.296,"endTime":626.846,"body":"the Deferred Sales Trust, is that"},{"speaker":"Brett Swarts","startTime":627.146,"endTime":629.756,"body":"it's Netflix because it's so flexible."},{"speaker":"Brett Swarts","startTime":629.806,"endTime":632.751,"body":"I mentioned Blockbuster in the"},{"speaker":"Brett Swarts","startTime":629.806,"endTime":632.751,"body":"beginning, that's like the 1031."},{"speaker":"Brett Swarts","startTime":632.991,"endTime":635.366,"body":"You're showing up on a Friday night"},{"speaker":"Brett Swarts","startTime":632.991,"endTime":635.366,"body":"mic and you've got, if you're in"},{"speaker":"Brett Swarts","startTime":635.371,"endTime":637.826,"body":"Hawaii, maybe you're driving in"},{"speaker":"Brett Swarts","startTime":635.371,"endTime":637.826,"body":"the sunshine and it's not so bad."},{"speaker":"Brett Swarts","startTime":637.826,"endTime":640.916,"body":"But what if you lived in Wisconsin"},{"speaker":"Brett Swarts","startTime":637.826,"endTime":640.916,"body":"and it's snowing outside, right?"},{"speaker":"Brett Swarts","startTime":640.916,"endTime":643.376,"body":"And what if you seen that thanks video"},{"speaker":"Brett Swarts","startTime":640.916,"endTime":643.376,"body":"at the end of the aisle and it's that"},{"speaker":"Brett Swarts","startTime":643.376,"endTime":645.746,"body":"cardboard box and you're about to"},{"speaker":"Brett Swarts","startTime":643.376,"endTime":645.746,"body":"grab it, but someone else grabs and"},{"speaker":"Brett Swarts","startTime":645.746,"endTime":646.586,"body":"you're like, oh, you're frustrated."},{"speaker":"Brett Swarts","startTime":646.586,"endTime":646.706,"body":"Right?"},{"speaker":"Brett Swarts","startTime":646.706,"endTime":649.136,"body":"Netflix came out obviously, and"},{"speaker":"Brett Swarts","startTime":646.706,"endTime":649.136,"body":"they became it a lot more flexible."},{"speaker":"Brett Swarts","startTime":649.766,"endTime":651.236,"body":"There's no 45 day requirement."},{"speaker":"Brett Swarts","startTime":651.236,"endTime":652.346,"body":"There's no 180 day close."},{"speaker":"Brett Swarts","startTime":652.346,"endTime":653.516,"body":"That's the deferred sales trust."},{"speaker":"Brett Swarts","startTime":653.516,"endTime":656.966,"body":"There's no kind or equal or greater"},{"speaker":"Brett Swarts","startTime":653.516,"endTime":656.966,"body":"debt requirement to replace as well."},{"speaker":"Brett Swarts","startTime":657.316,"endTime":659.446,"body":"It obviously works for more than"},{"speaker":"Brett Swarts","startTime":657.316,"endTime":659.446,"body":"just investment real estate."},{"speaker":"Brett Swarts","startTime":659.446,"endTime":660.586,"body":"It works for primary homes."},{"speaker":"Brett Swarts","startTime":660.586,"endTime":662.206,"body":"We did an 8 million deal in Palo Alto."},{"speaker":"Brett Swarts","startTime":662.536,"endTime":667.226,"body":"In fact, I was just in Kona, Hawaii"},{"speaker":"Brett Swarts","startTime":662.536,"endTime":667.226,"body":"touring properties and making YouTube"},{"speaker":"Brett Swarts","startTime":667.226,"endTime":670.466,"body":"videos about telling people that if they"},{"speaker":"Brett Swarts","startTime":667.226,"endTime":670.466,"body":"sell these high-end homes that are worth."},{"speaker":"Brett Swarts","startTime":670.861,"endTime":674.041,"body":"$10 million, $20 million, $30 million"},{"speaker":"Brett Swarts","startTime":670.861,"endTime":674.041,"body":"and they can defer the capital gains"},{"speaker":"Brett Swarts","startTime":674.041,"endTime":675.901,"body":"tax, not using a 1031 exchange."},{"speaker":"Brett Swarts","startTime":675.901,"endTime":680.401,"body":"And so just understanding that concept"},{"speaker":"Brett Swarts","startTime":675.901,"endTime":680.401,"body":"of what actually works to unlock"},{"speaker":"Brett Swarts","startTime":680.401,"endTime":683.781,"body":"the freedom is is the background"},{"speaker":"Brett Swarts","startTime":680.401,"endTime":683.781,"body":"for the deferred sales trust."},{"speaker":"Brett Swarts","startTime":683.786,"endTime":685.611,"body":"So technically now what is it?"},{"speaker":"Brett Swarts","startTime":686.001,"endTime":689.181,"body":"It's simply an installment sale, Mike,"},{"speaker":"Brett Swarts","startTime":686.001,"endTime":689.181,"body":"where if you own a property, let's say"},{"speaker":"Brett Swarts","startTime":689.181,"endTime":694.011,"body":"right now in Hawaii for 25 million, and"},{"speaker":"Brett Swarts","startTime":689.181,"endTime":694.011,"body":"let's say you bought it for 2 million."},{"speaker":"Brett Swarts","startTime":694.331,"endTime":695.381,"body":"30 years ago, right?"},{"speaker":"Brett Swarts","startTime":695.381,"endTime":700.061,"body":"And it's right on that cliff that oversees"},{"speaker":"Brett Swarts","startTime":695.381,"endTime":700.061,"body":"the best beach and it's amazing property."},{"speaker":"Brett Swarts","startTime":700.451,"endTime":702.701,"body":"And if you live there right"},{"speaker":"Brett Swarts","startTime":700.451,"endTime":702.701,"body":"now, you're gonna be subject"},{"speaker":"Brett Swarts","startTime":702.706,"endTime":704.201,"body":"to a huge capital gains tax."},{"speaker":"Brett Swarts","startTime":704.206,"endTime":705.821,"body":"I don't have exactly Hawaii"},{"speaker":"Brett Swarts","startTime":704.206,"endTime":705.821,"body":"in front of me, but I think"},{"speaker":"Brett Swarts","startTime":705.826,"endTime":706.751,"body":"it's one of the higher ones."},{"speaker":"Brett Swarts","startTime":707.091,"endTime":709.416,"body":"So let's just use 35%, right?"},{"speaker":"Brett Swarts","startTime":709.696,"endTime":713.096,"body":"And so if you were to sell for"},{"speaker":"Brett Swarts","startTime":709.696,"endTime":713.096,"body":"25 million minus the 2 million"},{"speaker":"Brett Swarts","startTime":713.806,"endTime":716.326,"body":"basis, that's a 23 million gain."},{"speaker":"Brett Swarts","startTime":716.776,"endTime":720.916,"body":"And you times that by 35%,"},{"speaker":"Brett Swarts","startTime":716.776,"endTime":720.916,"body":"that's your capital gains tax."},{"speaker":"Brett Swarts","startTime":721.186,"endTime":723.951,"body":"And so the question is,"},{"speaker":"Brett Swarts","startTime":721.186,"endTime":723.951,"body":"How do I defer that?"},{"speaker":"Brett Swarts","startTime":724.191,"endTime":726.351,"body":"The answer is the deferred sales trust."},{"speaker":"Brett Swarts","startTime":726.741,"endTime":730.041,"body":"It will actually buy your"},{"speaker":"Brett Swarts","startTime":726.741,"endTime":730.041,"body":"asset for 25 million."},{"speaker":"Brett Swarts","startTime":731.311,"endTime":733.561,"body":"And immediately sell it"},{"speaker":"Brett Swarts","startTime":731.311,"endTime":733.561,"body":"to the third party buyer."},{"speaker":"Brett Swarts","startTime":733.561,"endTime":734.641,"body":"We're also brokers."},{"speaker":"Brett Swarts","startTime":734.691,"endTime":738.261,"body":"We're luxury brokers, multi-family"},{"speaker":"Brett Swarts","startTime":734.691,"endTime":738.261,"body":"brokers across the country, including"},{"speaker":"Brett Swarts","startTime":738.261,"endTime":742.311,"body":"Hawaii, where we have people on"},{"speaker":"Brett Swarts","startTime":738.261,"endTime":742.311,"body":"the ground who can sell to high"},{"speaker":"Brett Swarts","startTime":742.311,"endTime":745.111,"body":"price, but we do the tax planning"},{"speaker":"Brett Swarts","startTime":742.311,"endTime":745.111,"body":"to make sure everything is locked."},{"speaker":"Brett Swarts","startTime":745.596,"endTime":748.476,"body":"And secured before anything moves."},{"speaker":"Brett Swarts","startTime":748.746,"endTime":751.386,"body":"And what happens at the close of"},{"speaker":"Brett Swarts","startTime":748.746,"endTime":751.386,"body":"escrow, instead of receiving the funds"},{"speaker":"Brett Swarts","startTime":751.386,"endTime":755.286,"body":"directly and paying the tax, they're"},{"speaker":"Brett Swarts","startTime":751.386,"endTime":755.286,"body":"you loan the funds to this trust"},{"speaker":"Brett Swarts","startTime":755.286,"endTime":757.146,"body":"and you get back at promissory note."},{"speaker":"Brett Swarts","startTime":757.596,"endTime":762.426,"body":"And it's that separation, that delay"},{"speaker":"Brett Swarts","startTime":757.596,"endTime":762.426,"body":"of tax, the delay of payment, which"},{"speaker":"Brett Swarts","startTime":762.426,"endTime":764.796,"body":"creates what's called the deferral."},{"speaker":"Brett Swarts","startTime":765.006,"endTime":767.076,"body":"It's the same way, same"},{"speaker":"Brett Swarts","startTime":765.006,"endTime":767.076,"body":"like a 10 31 exchange."},{"speaker":"Brett Swarts","startTime":767.136,"endTime":769.416,"body":"You sent the funds to a"},{"speaker":"Brett Swarts","startTime":767.136,"endTime":769.416,"body":"qualified intermediary."},{"speaker":"Brett Swarts","startTime":769.766,"endTime":773.096,"body":"Then you delay taking constructive"},{"speaker":"Brett Swarts","startTime":769.766,"endTime":773.096,"body":"receipt or actual receipt of the funds."},{"speaker":"Brett Swarts","startTime":773.436,"endTime":776.316,"body":"So long story short, and these notes are"},{"speaker":"Brett Swarts","startTime":773.436,"endTime":776.316,"body":"structured at 10 years, typically, and"},{"speaker":"Brett Swarts","startTime":776.316,"endTime":777.906,"body":"every 10 years you can renew for 10 years."},{"speaker":"Brett Swarts","startTime":778.146,"endTime":781.056,"body":"You can pass it to kids and most of"},{"speaker":"Brett Swarts","startTime":778.146,"endTime":781.056,"body":"our clients will just live off the"},{"speaker":"Brett Swarts","startTime":781.056,"endTime":784.356,"body":"interest payments and they'll take"},{"speaker":"Brett Swarts","startTime":781.056,"endTime":784.356,"body":"slow interest payments over time and"},{"speaker":"Brett Swarts","startTime":784.361,"endTime":786.636,"body":"they'll defer all 25 in that scenario."},{"speaker":"Brett Swarts","startTime":786.766,"endTime":788.336,"body":"Put all 25 million in the trust."},{"speaker":"Brett Swarts","startTime":788.336,"endTime":791.486,"body":"If it was free and clear, they'll"},{"speaker":"Brett Swarts","startTime":788.336,"endTime":791.486,"body":"defer all of the tax and they'll"},{"speaker":"Brett Swarts","startTime":791.486,"endTime":793.136,"body":"just live off the interest, right?"},{"speaker":"Brett Swarts","startTime":793.136,"endTime":794.006,"body":"Which is really neat."},{"speaker":"Brett Swarts","startTime":794.006,"endTime":798.266,"body":"Versus paying 35% of 23 million,"},{"speaker":"Brett Swarts","startTime":794.006,"endTime":798.266,"body":"which would be a much lower number."},{"speaker":"Average Joe Finances","startTime":799.751,"endTime":802.496,"body":"Yeah you"},{"speaker":"Average Joe Finances","startTime":799.751,"endTime":802.496,"body":"would lose over $8 million if you"},{"speaker":"Average Joe Finances","startTime":802.496,"endTime":803.826,"body":"paid the capital gains on that."},{"speaker":"Average Joe Finances","startTime":803.826,"endTime":804.786,"body":"So that's definitely huge."},{"speaker":"Average Joe Finances","startTime":805.156,"endTime":809.781,"body":"Okay, now, I want to get a little"},{"speaker":"Average Joe Finances","startTime":805.156,"endTime":809.781,"body":"bit deeper into this, cuz you know"},{"speaker":"Average Joe Finances","startTime":809.831,"endTime":812.831,"body":"I've had people on, we've talked"},{"speaker":"Average Joe Finances","startTime":809.831,"endTime":812.831,"body":"about 1031 exchanges a couple"},{"speaker":"Average Joe Finances","startTime":812.831,"endTime":814.031,"body":"times on the podcast, right?"},{"speaker":"Average Joe Finances","startTime":814.331,"endTime":816.821,"body":"So my listeners probably, if you've"},{"speaker":"Average Joe Finances","startTime":814.331,"endTime":816.821,"body":"listened to those episodes, you"},{"speaker":"Average Joe Finances","startTime":816.826,"endTime":817.901,"body":"should understand that a little bit."},{"speaker":"Average Joe Finances","startTime":817.906,"endTime":822.496,"body":"With the 1031 exchange, you got 45 days"},{"speaker":"Average Joe Finances","startTime":817.906,"endTime":822.496,"body":"to identify three other properties, right?"},{"speaker":"Average Joe Finances","startTime":822.806,"endTime":824.126,"body":"And then you have 180 days to close."},{"speaker":"Average Joe Finances","startTime":824.666,"endTime":828.466,"body":"Now you're saying with this"},{"speaker":"Average Joe Finances","startTime":824.666,"endTime":828.466,"body":"deferred sales trust, right?"},{"speaker":"Average Joe Finances","startTime":828.466,"endTime":830.566,"body":"That you don't have to."},{"speaker":"Average Joe Finances","startTime":831.346,"endTime":833.086,"body":"There's no requirement for"},{"speaker":"Average Joe Finances","startTime":831.346,"endTime":833.086,"body":"anything like that, right?"},{"speaker":"Brett Swarts","startTime":833.446,"endTime":833.926,"body":"Exactly."},{"speaker":"Brett Swarts","startTime":833.926,"endTime":837.166,"body":"Let me tell you a deal, story to bring"},{"speaker":"Brett Swarts","startTime":833.926,"endTime":837.166,"body":"this to life, and this is the single"},{"speaker":"Brett Swarts","startTime":837.166,"endTime":838.426,"body":"reason why I started this company."},{"speaker":"Brett Swarts","startTime":838.426,"endTime":841.576,"body":"There's a few, but this is like the"},{"speaker":"Brett Swarts","startTime":838.426,"endTime":841.576,"body":"foundational part of why I started"},{"speaker":"Brett Swarts","startTime":841.576,"endTime":846.076,"body":"it, and it's the story of a gentleman"},{"speaker":"Brett Swarts","startTime":841.576,"endTime":846.076,"body":"in 2006 who sold a commercial asset"},{"speaker":"Brett Swarts","startTime":846.076,"endTime":850.066,"body":"in Minnesota for 20 million near"},{"speaker":"Brett Swarts","startTime":846.076,"endTime":850.066,"body":"the Minnesota Vikings Stadium."},{"speaker":"Brett Swarts","startTime":850.066,"endTime":850.576,"body":"This guy."},{"speaker":"Brett Swarts","startTime":850.761,"endTime":851.841,"body":"Hates the stock market."},{"speaker":"Brett Swarts","startTime":851.841,"endTime":853.611,"body":"Loves real estate, loves 1031 exchanges."},{"speaker":"Brett Swarts","startTime":853.611,"endTime":856.511,"body":"He's if you're a real estate person"},{"speaker":"Brett Swarts","startTime":853.611,"endTime":856.511,"body":"you're like, all of us buy and sell"},{"speaker":"Brett Swarts","startTime":856.511,"endTime":857.801,"body":"real estate, love, all of that."},{"speaker":"Brett Swarts","startTime":858.101,"endTime":860.826,"body":"But for the first time in 2006,"},{"speaker":"Brett Swarts","startTime":858.101,"endTime":860.826,"body":"he looked at his 1031 binoculars."},{"speaker":"Brett Swarts","startTime":860.826,"endTime":861.761,"body":"He's this doesn't look too good."},{"speaker":"Brett Swarts","startTime":861.971,"endTime":864.281,"body":"Now, he didn't know 2008 was gonna"},{"speaker":"Brett Swarts","startTime":861.971,"endTime":864.281,"body":"happen, but he just said, whatever it"},{"speaker":"Brett Swarts","startTime":864.281,"endTime":867.881,"body":"is, I'm either gonna pay my tax, but I'm"},{"speaker":"Brett Swarts","startTime":864.281,"endTime":867.881,"body":"not gonna overpay and chase these deals"},{"speaker":"Brett Swarts","startTime":867.881,"endTime":870.191,"body":"that these valuations make zero sense."},{"speaker":"Brett Swarts","startTime":870.341,"endTime":872.711,"body":"And he goes, I'm gonna try this"},{"speaker":"Brett Swarts","startTime":870.341,"endTime":872.711,"body":"deferred sales trust thing out."},{"speaker":"Brett Swarts","startTime":873.411,"endTime":875.001,"body":"Puts it into the deferred sales trust."},{"speaker":"Brett Swarts","startTime":875.001,"endTime":876.711,"body":"Where are the funds sending in the bank?"},{"speaker":"Brett Swarts","startTime":876.711,"endTime":879.071,"body":"Sending in very conservative securities."},{"speaker":"Brett Swarts","startTime":879.191,"endTime":879.491,"body":"Okay."},{"speaker":"Brett Swarts","startTime":879.491,"endTime":881.521,"body":"Not subject to huge crash of 2008."},{"speaker":"Brett Swarts","startTime":881.536,"endTime":883.301,"body":"There you can protect it"},{"speaker":"Brett Swarts","startTime":881.536,"endTime":883.301,"body":"and hedge it and protect it."},{"speaker":"Brett Swarts","startTime":883.601,"endTime":886.421,"body":"We work with some of the best financial"},{"speaker":"Brett Swarts","startTime":883.601,"endTime":886.421,"body":"advisors in the world to help with this."},{"speaker":"Brett Swarts","startTime":886.421,"endTime":888.791,"body":"Okay, so he was conservative there."},{"speaker":"Brett Swarts","startTime":889.181,"endTime":891.132,"body":"And in the meantime, what happened to"},{"speaker":"Brett Swarts","startTime":889.181,"endTime":891.132,"body":"the property that the buyer bought?"},{"speaker":"Brett Swarts","startTime":891.816,"endTime":895.836,"body":"Five years later, that person got"},{"speaker":"Brett Swarts","startTime":891.816,"endTime":895.836,"body":"foreclosed on and the bank calls the"},{"speaker":"Brett Swarts","startTime":895.836,"endTime":899.266,"body":"guy who sold it up and said, the person"},{"speaker":"Brett Swarts","startTime":895.836,"endTime":899.266,"body":"who used the DST and said, Hey, do"},{"speaker":"Brett Swarts","startTime":899.266,"endTime":903.066,"body":"you wanna potentially buy back the"},{"speaker":"Brett Swarts","startTime":899.266,"endTime":903.066,"body":"property that you sold to that buyer?"},{"speaker":"Brett Swarts","startTime":903.071,"endTime":905.831,"body":"He goes, oh yeah, that 1031 buyer"},{"speaker":"Brett Swarts","startTime":903.071,"endTime":905.831,"body":"out to California for the high price."},{"speaker":"Brett Swarts","startTime":906.141,"endTime":906.711,"body":"He said, yeah."},{"speaker":"Brett Swarts","startTime":906.711,"endTime":908.021,"body":"And they go we just foreclosed on it."},{"speaker":"Brett Swarts","startTime":908.151,"endTime":909.361,"body":"He goes what's the price?"},{"speaker":"Brett Swarts","startTime":909.361,"endTime":912.381,"body":"And they said about 60 cents"},{"speaker":"Brett Swarts","startTime":909.361,"endTime":912.381,"body":"on the dollar, about 40% less"},{"speaker":"Brett Swarts","startTime":912.891,"endTime":913.911,"body":"than what you sold it for."},{"speaker":"Brett Swarts","startTime":914.616,"endTime":918.576,"body":"He goes, gimme a couple days, and he"},{"speaker":"Brett Swarts","startTime":914.616,"endTime":918.576,"body":"was able to structure a new LC and"},{"speaker":"Brett Swarts","startTime":918.576,"endTime":922.956,"body":"the trust put up the money to buy"},{"speaker":"Brett Swarts","startTime":918.576,"endTime":922.956,"body":"that asset at 60 cents on the dollar."},{"speaker":"Brett Swarts","startTime":922.961,"endTime":923.796,"body":"But here's the key."},{"speaker":"Brett Swarts","startTime":924.306,"endTime":925.806,"body":"All tax deferred."},{"speaker":"Brett Swarts","startTime":927.051,"endTime":928.426,"body":"He still hasn't used a 1031."},{"speaker":"Brett Swarts","startTime":928.446,"endTime":929.596,"body":"He never used a 1031."},{"speaker":"Brett Swarts","startTime":929.976,"endTime":930.336,"body":"He didn't."},{"speaker":"Brett Swarts","startTime":930.336,"endTime":931.746,"body":"It's a completely different tax code."},{"speaker":"Brett Swarts","startTime":931.746,"endTime":936.116,"body":"By the way, this is an installment sale"},{"speaker":"Brett Swarts","startTime":931.746,"endTime":936.116,"body":"based upon IRC 453 versus IRC 1031."},{"speaker":"Brett Swarts","startTime":936.576,"endTime":937.876,"body":"This is IRC 401k."},{"speaker":"Brett Swarts","startTime":937.896,"endTime":940.776,"body":". There's different tax codes that"},{"speaker":"Brett Swarts","startTime":937.896,"endTime":940.776,"body":"provide different types of tax deferral."},{"speaker":"Brett Swarts","startTime":941.146,"endTime":944.806,"body":"So the way you structure it with the"},{"speaker":"Brett Swarts","startTime":941.146,"endTime":944.806,"body":"team is really the secret, right?"},{"speaker":"Brett Swarts","startTime":945.136,"endTime":948.286,"body":"And that's the nuance why it"},{"speaker":"Brett Swarts","startTime":945.136,"endTime":948.286,"body":"goes back 27 years, thousands of"},{"speaker":"Brett Swarts","startTime":948.286,"endTime":949.816,"body":"closes, billions under management."},{"speaker":"Brett Swarts","startTime":950.126,"endTime":952.436,"body":"But most people don't know about"},{"speaker":"Brett Swarts","startTime":950.126,"endTime":952.436,"body":"it because they haven't met us yet."},{"speaker":"Brett Swarts","startTime":952.441,"endTime":954.686,"body":"Although we've done lots of"},{"speaker":"Brett Swarts","startTime":952.441,"endTime":954.686,"body":"deals over 20, no change."},{"speaker":"Brett Swarts","startTime":954.776,"endTime":957.406,"body":"IRS audits, all the states, everywhere."},{"speaker":"Brett Swarts","startTime":958.496,"endTime":960.626,"body":"It's on works every single"},{"speaker":"Brett Swarts","startTime":958.496,"endTime":960.626,"body":"time, but it's proprietary."},{"speaker":"Brett Swarts","startTime":960.626,"endTime":961.376,"body":"It's protected."},{"speaker":"Brett Swarts","startTime":961.766,"endTime":966.016,"body":"But that single concept of selling"},{"speaker":"Brett Swarts","startTime":961.766,"endTime":966.016,"body":"high and buying low, Instead of"},{"speaker":"Brett Swarts","startTime":966.016,"endTime":969.076,"body":"selling high and overpaying for our"},{"speaker":"Brett Swarts","startTime":966.016,"endTime":969.076,"body":"property, especially right now where"},{"speaker":"Brett Swarts","startTime":969.076,"endTime":972.826,"body":"cap rates are still pretty, it may"},{"speaker":"Brett Swarts","startTime":969.076,"endTime":972.826,"body":"have gone up a little bit, but interest"},{"speaker":"Brett Swarts","startTime":972.826,"endTime":975.636,"body":"rates have definitely jumped, where"},{"speaker":"Brett Swarts","startTime":972.826,"endTime":975.636,"body":"it doesn't make much sense to buy."},{"speaker":"Brett Swarts","startTime":975.666,"endTime":977.016,"body":"It just makes perfect sense."},{"speaker":"Brett Swarts","startTime":977.016,"endTime":980.166,"body":"That's why the deferred sales trust"},{"speaker":"Brett Swarts","startTime":977.016,"endTime":980.166,"body":"is perfect for times like this, and"},{"speaker":"Brett Swarts","startTime":980.166,"endTime":981.876,"body":"we're just trying to get the word"},{"speaker":"Brett Swarts","startTime":980.166,"endTime":981.876,"body":"out to as many people as we can."},{"speaker":"Average Joe Finances","startTime":982.686,"endTime":983.046,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":983.046,"endTime":984.606,"body":"I'm hoping to help you"},{"speaker":"Average Joe Finances","startTime":983.046,"endTime":984.606,"body":"guys get the word out."},{"speaker":"Average Joe Finances","startTime":984.606,"endTime":985.086,"body":"That's amazing."},{"speaker":"Average Joe Finances","startTime":985.086,"endTime":987.406,"body":"So with that particular situation, right?"},{"speaker":"Average Joe Finances","startTime":987.406,"endTime":994.231,"body":"So he was able to create another LC"},{"speaker":"Average Joe Finances","startTime":987.406,"endTime":994.231,"body":"and then have funds from the trust go"},{"speaker":"Average Joe Finances","startTime":994.236,"endTime":995.941,"body":"to that LC to purchase that property."},{"speaker":"Average Joe Finances","startTime":995.946,"endTime":998.736,"body":"That's how that worked without"},{"speaker":"Average Joe Finances","startTime":995.946,"endTime":998.736,"body":"paying any taxes on it."},{"speaker":"Brett Swarts","startTime":998.826,"endTime":999.176,"body":"Yes, sir."},{"speaker":"Brett Swarts","startTime":999.316,"endTime":999.656,"body":"Yes, sir."},{"speaker":"Brett Swarts","startTime":999.676,"endTime":1000.386,"body":"You got it."},{"speaker":"Brett Swarts","startTime":1000.386,"endTime":1000.856,"body":"You nailed it."},{"speaker":"Average Joe Finances","startTime":1001.026,"endTime":1002.076,"body":"That is super cool."},{"speaker":"Average Joe Finances","startTime":1002.256,"endTime":1003.186,"body":"That is super cool."},{"speaker":"Average Joe Finances","startTime":1003.276,"endTime":1003.966,"body":"Okay, cool."},{"speaker":"Average Joe Finances","startTime":1004.476,"endTime":1008.816,"body":"Yeah, so I guess I don't really"},{"speaker":"Average Joe Finances","startTime":1004.476,"endTime":1008.816,"body":"know how much more I could dive"},{"speaker":"Average Joe Finances","startTime":1008.816,"endTime":1010.791,"body":"into this but I wanna know more."},{"speaker":"Average Joe Finances","startTime":1010.851,"endTime":1015.571,"body":"So what is some other key benefactors"},{"speaker":"Average Joe Finances","startTime":1010.851,"endTime":1015.571,"body":"that come with doing a deferred sales"},{"speaker":"Average Joe Finances","startTime":1015.576,"endTime":1020.096,"body":"trust versus let's say somebody wants"},{"speaker":"Average Joe Finances","startTime":1015.576,"endTime":1020.096,"body":"to put it in a Delaware statutory trust."},{"speaker":"Average Joe Finances","startTime":1020.151,"endTime":1023.001,"body":"What is cause I mean that you"},{"speaker":"Average Joe Finances","startTime":1020.151,"endTime":1023.001,"body":"get like a, pretty much like a"},{"speaker":"Average Joe Finances","startTime":1023.001,"endTime":1024.321,"body":"guaranteed percentage, right?"},{"speaker":"Average Joe Finances","startTime":1024.731,"endTime":1028.376,"body":"Now what kind of, I"},{"speaker":"Average Joe Finances","startTime":1024.731,"endTime":1028.376,"body":"hate using that G word."},{"speaker":"Average Joe Finances","startTime":1028.376,"endTime":1032.516,"body":"But what kind of like returns, like you,"},{"speaker":"Average Joe Finances","startTime":1028.376,"endTime":1032.516,"body":"you said people are putting them in here"},{"speaker":"Average Joe Finances","startTime":1032.516,"endTime":1034.321,"body":"and they they live off the interest."},{"speaker":"Average Joe Finances","startTime":1034.321,"endTime":1036.361,"body":"So what kind of interest rates"},{"speaker":"Average Joe Finances","startTime":1034.321,"endTime":1036.361,"body":"are you guys seeing with that?"},{"speaker":"Average Joe Finances","startTime":1036.361,"endTime":1040.302,"body":"Cause I know with, the DSTs you have a"},{"speaker":"Average Joe Finances","startTime":1036.361,"endTime":1040.302,"body":"good idea of what you're gonna get back."},{"speaker":"Average Joe Finances","startTime":1040.662,"endTime":1042.337,"body":"But what about with this"},{"speaker":"Average Joe Finances","startTime":1040.662,"endTime":1042.337,"body":"deferred sales trust?"},{"speaker":"Brett Swarts","startTime":1043.157,"endTime":1043.457,"body":"Yes."},{"speaker":"Brett Swarts","startTime":1043.457,"endTime":1046.607,"body":"So typically it's between five"},{"speaker":"Brett Swarts","startTime":1043.457,"endTime":1046.607,"body":"and about 9% depending on the"},{"speaker":"Brett Swarts","startTime":1046.607,"endTime":1047.897,"body":"risk tolerance of the client."},{"speaker":"Brett Swarts","startTime":1047.897,"endTime":1050.927,"body":"And depending on how we structure the"},{"speaker":"Brett Swarts","startTime":1047.897,"endTime":1050.927,"body":"promissory note, most of my clients"},{"speaker":"Brett Swarts","startTime":1050.927,"endTime":1054.257,"body":"are about seven or 8% based upon"},{"speaker":"Brett Swarts","startTime":1050.927,"endTime":1054.257,"body":"their risk tolerance, and that's net"},{"speaker":"Brett Swarts","startTime":1054.257,"endTime":1058.007,"body":"of the recurring fees over on average"},{"speaker":"Brett Swarts","startTime":1054.257,"endTime":1058.007,"body":"over any 10 year period of time."},{"speaker":"Brett Swarts","startTime":1058.012,"endTime":1061.037,"body":"Not guaranteed not promise, but here's"},{"speaker":"Brett Swarts","startTime":1058.012,"endTime":1061.037,"body":"the key part, and it's one of the major"},{"speaker":"Brett Swarts","startTime":1061.042,"endTime":1064.847,"body":"difference between the Delaware slash"},{"speaker":"Brett Swarts","startTime":1061.042,"endTime":1064.847,"body":"Troy Trust is A, it's diversified."},{"speaker":"Brett Swarts","startTime":1065.897,"endTime":1070.967,"body":"B, we don't have to buy a Delaware deal or"},{"speaker":"Brett Swarts","startTime":1065.897,"endTime":1070.967,"body":"put an interest into a deal within that 45"},{"speaker":"Brett Swarts","startTime":1070.972,"endTime":1073.397,"body":"day identification, 180 day close, right?"},{"speaker":"Brett Swarts","startTime":1073.607,"endTime":1077.957,"body":"C, typically a lot of the funds"},{"speaker":"Brett Swarts","startTime":1073.607,"endTime":1077.957,"body":"are liquid, so we can jump on"},{"speaker":"Brett Swarts","startTime":1077.957,"endTime":1079.277,"body":"a deal when it makes sense."},{"speaker":"Brett Swarts","startTime":1079.332,"endTime":1081.582,"body":"So by the way, we do Delaware"},{"speaker":"Brett Swarts","startTime":1079.332,"endTime":1081.582,"body":"statutory trust and they're part"},{"speaker":"Brett Swarts","startTime":1081.582,"endTime":1083.012,"body":"of the Delaware Blockbuster family."},{"speaker":"Brett Swarts","startTime":1083.012,"endTime":1087.672,"body":"And there's definitely reasons why a 1031"},{"speaker":"Brett Swarts","startTime":1083.012,"endTime":1087.672,"body":"exchange makes more sense or the Delaware"},{"speaker":"Brett Swarts","startTime":1087.672,"endTime":1089.472,"body":"could over a deferred sales trust."},{"speaker":"Brett Swarts","startTime":1089.872,"endTime":1091.672,"body":"But generally speaking,"},{"speaker":"Brett Swarts","startTime":1089.872,"endTime":1091.672,"body":"most of the time it doesn't."},{"speaker":"Brett Swarts","startTime":1091.712,"endTime":1092.792,"body":"For a couple reasons."},{"speaker":"Brett Swarts","startTime":1092.792,"endTime":1095.222,"body":"Number one, you have an"},{"speaker":"Brett Swarts","startTime":1092.792,"endTime":1095.222,"body":"old depreciation schedule."},{"speaker":"Brett Swarts","startTime":1095.612,"endTime":1100.232,"body":"So one of the best ways to own and"},{"speaker":"Brett Swarts","startTime":1095.612,"endTime":1100.232,"body":"build wealth is to have something"},{"speaker":"Brett Swarts","startTime":1100.232,"endTime":1103.502,"body":"that provides offset of cash flow."},{"speaker":"Brett Swarts","startTime":1103.772,"endTime":1105.272,"body":"We call this tax flow."},{"speaker":"Brett Swarts","startTime":1105.842,"endTime":1109.112,"body":"For every dollar of cash flow,"},{"speaker":"Brett Swarts","startTime":1105.842,"endTime":1109.112,"body":"we want some tax flow, a loss"},{"speaker":"Brett Swarts","startTime":1109.112,"endTime":1110.403,"body":"on the other side to offset it."},{"speaker":"Brett Swarts","startTime":1110.682,"endTime":1110.972,"body":"Okay?"},{"speaker":"Brett Swarts","startTime":1111.182,"endTime":1112.202,"body":"So it washes out."},{"speaker":"Brett Swarts","startTime":1112.482,"endTime":1112.812,"body":"Guess what?"},{"speaker":"Brett Swarts","startTime":1112.812,"endTime":1116.832,"body":"In a 1031 exchange, your old depreciation"},{"speaker":"Brett Swarts","startTime":1112.812,"endTime":1116.832,"body":"schedule travels, which means what?"},{"speaker":"Brett Swarts","startTime":1116.832,"endTime":1119.172,"body":"You have lower or no depreciation."},{"speaker":"Brett Swarts","startTime":1120.092,"endTime":1123.227,"body":"Which means for the cashflow"},{"speaker":"Brett Swarts","startTime":1120.092,"endTime":1123.227,"body":"that's coming in, You're taxed."},{"speaker":"Brett Swarts","startTime":1123.617,"endTime":1127.067,"body":"It's so Hawaii, New York, California,"},{"speaker":"Brett Swarts","startTime":1123.617,"endTime":1127.067,"body":"we're like the highest tax states, right?"},{"speaker":"Brett Swarts","startTime":1127.067,"endTime":1127.907,"body":"It's brutal."},{"speaker":"Brett Swarts","startTime":1128.267,"endTime":1132.107,"body":"So you wanna make sure that you're looking"},{"speaker":"Brett Swarts","startTime":1128.267,"endTime":1132.107,"body":"at your tax slow depreciation schedules"},{"speaker":"Brett Swarts","startTime":1132.107,"endTime":1135.107,"body":"and if you wanna do a 1031 you're gonna"},{"speaker":"Brett Swarts","startTime":1132.107,"endTime":1135.107,"body":"have the old one, which is no good."},{"speaker":"Brett Swarts","startTime":1135.437,"endTime":1138.407,"body":"The deferred sales trust, that asset"},{"speaker":"Brett Swarts","startTime":1135.437,"endTime":1138.407,"body":"that the gentleman bought back five"},{"speaker":"Brett Swarts","startTime":1138.412,"endTime":1141.227,"body":"years later with the trust by partnering"},{"speaker":"Brett Swarts","startTime":1138.412,"endTime":1141.227,"body":"with the trust to buy it back."},{"speaker":"Brett Swarts","startTime":1141.232,"endTime":1143.177,"body":"You got a brand new depreciation schedule."},{"speaker":"Brett Swarts","startTime":1143.687,"endTime":1144.467,"body":"You say why?"},{"speaker":"Brett Swarts","startTime":1144.747,"endTime":1146.367,"body":"Cause he didn't do a 1031 exchange."},{"speaker":"Brett Swarts","startTime":1146.607,"endTime":1148.647,"body":"Oh, so he's outside of those rules?"},{"speaker":"Brett Swarts","startTime":1148.647,"endTime":1149.037,"body":"Yes."},{"speaker":"Brett Swarts","startTime":1149.607,"endTime":1149.757,"body":"Okay."},{"speaker":"Brett Swarts","startTime":1149.757,"endTime":1152.067,"body":"He bought it with a new entity, new money."},{"speaker":"Brett Swarts","startTime":1152.407,"endTime":1154.117,"body":"And it's still tax deferred."},{"speaker":"Brett Swarts","startTime":1154.657,"endTime":1157.507,"body":"So this is the cool thing"},{"speaker":"Brett Swarts","startTime":1154.657,"endTime":1157.507,"body":"about the deferred sales trust."},{"speaker":"Brett Swarts","startTime":1157.507,"endTime":1160.257,"body":"Number two would be the Delaware"},{"speaker":"Brett Swarts","startTime":1157.507,"endTime":1160.257,"body":"statutory trust only works"},{"speaker":"Brett Swarts","startTime":1160.257,"endTime":1161.277,"body":"for investment real estate."},{"speaker":"Brett Swarts","startTime":1161.367,"endTime":1164.637,"body":"It doesn't work for high-end"},{"speaker":"Brett Swarts","startTime":1161.367,"endTime":1164.637,"body":"primary homes, businesses."},{"speaker":"Brett Swarts","startTime":1164.637,"endTime":1165.827,"body":"It doesn't work for cryptocurrency."},{"speaker":"Brett Swarts","startTime":1166.617,"endTime":1170.247,"body":"We had a client who exited 5"},{"speaker":"Brett Swarts","startTime":1166.617,"endTime":1170.247,"body":"million of Bitcoin before the crash."},{"speaker":"Brett Swarts","startTime":1170.907,"endTime":1174.867,"body":"At $54,000 a coin, and she was able to"},{"speaker":"Brett Swarts","startTime":1170.907,"endTime":1174.867,"body":"diversify that equity into a business"},{"speaker":"Brett Swarts","startTime":1174.867,"endTime":1176.427,"body":"venture, a tech startup company."},{"speaker":"Brett Swarts","startTime":1176.847,"endTime":1179.247,"body":"It's, we call it the GoFund"},{"speaker":"Brett Swarts","startTime":1176.847,"endTime":1179.247,"body":"yourself, all tax deferred."},{"speaker":"Brett Swarts","startTime":1179.247,"endTime":1181.407,"body":"She could also went and"},{"speaker":"Brett Swarts","startTime":1179.247,"endTime":1181.407,"body":"bought a multi-family property"},{"speaker":"Brett Swarts","startTime":1181.407,"endTime":1183.027,"body":"in Hawaii on the beach."},{"speaker":"Brett Swarts","startTime":1183.027,"endTime":1183.627,"body":"She could have."},{"speaker":"Brett Swarts","startTime":1183.967,"endTime":1184.867,"body":"All tax deferred."},{"speaker":"Brett Swarts","startTime":1185.227,"endTime":1187.747,"body":"And so understanding that"},{"speaker":"Brett Swarts","startTime":1185.227,"endTime":1187.747,"body":"it's super flexible with the"},{"speaker":"Brett Swarts","startTime":1187.752,"endTime":1188.797,"body":"assets that you're selling."},{"speaker":"Brett Swarts","startTime":1188.797,"endTime":1189.157,"body":"It works for."},{"speaker":"Brett Swarts","startTime":1189.522,"endTime":1190.452,"body":"Captive insurance."},{"speaker":"Brett Swarts","startTime":1190.452,"endTime":1191.682,"body":"It works for public or private stock."},{"speaker":"Brett Swarts","startTime":1191.682,"endTime":1193.687,"body":"We're doing a, we're working"},{"speaker":"Brett Swarts","startTime":1191.682,"endTime":1193.687,"body":"on a a multimillion dollar"},{"speaker":"Brett Swarts","startTime":1193.687,"endTime":1195.157,"body":"Apple stock exit right now."},{"speaker":"Brett Swarts","startTime":1195.527,"endTime":1198.577,"body":"It works for it can also"},{"speaker":"Brett Swarts","startTime":1195.527,"endTime":1198.577,"body":"save a failing 1031 exchange."},{"speaker":"Brett Swarts","startTime":1198.577,"endTime":1200.957,"body":"We can be a backup plan in"},{"speaker":"Brett Swarts","startTime":1198.577,"endTime":1200.957,"body":"case you do wanna do a 1031."},{"speaker":"Brett Swarts","startTime":1200.977,"endTime":1203.707,"body":"I mentioned we're brokers, so we help"},{"speaker":"Brett Swarts","startTime":1200.977,"endTime":1203.707,"body":"people do 1031 ones all the time, too."},{"speaker":"Brett Swarts","startTime":1204.297,"endTime":1205.048,"body":"Wonder if you have a backup plan."},{"speaker":"Brett Swarts","startTime":1205.167,"endTime":1209.102,"body":"Wonder if you could go into a deal"},{"speaker":"Brett Swarts","startTime":1205.167,"endTime":1209.102,"body":"knowing that the seller can't be"},{"speaker":"Brett Swarts","startTime":1209.102,"endTime":1210.752,"body":"too hardball because if they are."},{"speaker":"Brett Swarts","startTime":1211.137,"endTime":1212.187,"body":"You don't have to buy it."},{"speaker":"Brett Swarts","startTime":1212.637,"endTime":1216.117,"body":"But as a seller who knows or doesn't"},{"speaker":"Brett Swarts","startTime":1212.637,"endTime":1216.117,"body":"know that you know about the deferred"},{"speaker":"Brett Swarts","startTime":1216.117,"endTime":1219.897,"body":"sales trust, they oftentimes use"},{"speaker":"Brett Swarts","startTime":1216.117,"endTime":1219.897,"body":"that against you and don't allow"},{"speaker":"Brett Swarts","startTime":1219.897,"endTime":1222.477,"body":"you to really negotiate the deal"},{"speaker":"Brett Swarts","startTime":1219.897,"endTime":1222.477,"body":"in case you find hair on the deal."},{"speaker":"Brett Swarts","startTime":1222.477,"endTime":1224.367,"body":"So these are all the strategic things."},{"speaker":"Brett Swarts","startTime":1224.372,"endTime":1226.857,"body":"So the biggest thing for people to do"},{"speaker":"Brett Swarts","startTime":1224.372,"endTime":1226.857,"body":"if they wanna take action is to have"},{"speaker":"Brett Swarts","startTime":1226.862,"endTime":1229.067,"body":"a tax flow and a cash flow mindset."},{"speaker":"Brett Swarts","startTime":1230.422,"endTime":1234.057,"body":"And number two, make sure you"},{"speaker":"Brett Swarts","startTime":1230.422,"endTime":1234.057,"body":"have a team that understands what"},{"speaker":"Brett Swarts","startTime":1234.057,"endTime":1237.177,"body":"your options even are and even"},{"speaker":"Brett Swarts","startTime":1234.057,"endTime":1237.177,"body":"giving you the options, right?"},{"speaker":"Brett Swarts","startTime":1237.177,"endTime":1239.247,"body":"Most agents and brokers"},{"speaker":"Brett Swarts","startTime":1237.177,"endTime":1239.247,"body":"don't even know about this."},{"speaker":"Brett Swarts","startTime":1239.247,"endTime":1241.827,"body":"It's part of why we're trying to coach"},{"speaker":"Brett Swarts","startTime":1239.247,"endTime":1241.827,"body":"and train agents on how to do this."},{"speaker":"Brett Swarts","startTime":1242.317,"endTime":1245.267,"body":"But then number three would be to"},{"speaker":"Brett Swarts","startTime":1242.317,"endTime":1245.267,"body":"actually execute on the freedoms"},{"speaker":"Brett Swarts","startTime":1245.272,"endTime":1246.497,"body":"that you're trying to achieve."},{"speaker":"Brett Swarts","startTime":1246.587,"endTime":1249.977,"body":"And when you actually know what's possible"},{"speaker":"Brett Swarts","startTime":1246.587,"endTime":1249.977,"body":"and you have the team and you know what"},{"speaker":"Brett Swarts","startTime":1249.977,"endTime":1253.637,"body":"the options are, we find that these"},{"speaker":"Brett Swarts","startTime":1249.977,"endTime":1253.637,"body":"deals really are getting unlocked for"},{"speaker":"Brett Swarts","startTime":1253.637,"endTime":1254.897,"body":"people and people get a lot of freedom."},{"speaker":"Average Joe Finances","startTime":1256.067,"endTime":1256.307,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1256.337,"endTime":1257.417,"body":"Brett, that is phenomenal."},{"speaker":"Average Joe Finances","startTime":1257.417,"endTime":1260.747,"body":"As you're describing this whole"},{"speaker":"Average Joe Finances","startTime":1257.417,"endTime":1260.747,"body":"thing, I'm just like, how come"},{"speaker":"Average Joe Finances","startTime":1260.752,"endTime":1261.947,"body":"more people don't know about this?"},{"speaker":"Average Joe Finances","startTime":1261.957,"endTime":1263.662,"body":"And I was checking out"},{"speaker":"Average Joe Finances","startTime":1261.957,"endTime":1263.662,"body":"your website earlier."},{"speaker":"Average Joe Finances","startTime":1263.667,"endTime":1266.222,"body":"I was creeping on you guys,"},{"speaker":"Average Joe Finances","startTime":1263.667,"endTime":1266.222,"body":"seeing what you guys had going on."},{"speaker":"Average Joe Finances","startTime":1266.472,"endTime":1269.742,"body":"And I did see some of the reviews"},{"speaker":"Average Joe Finances","startTime":1266.472,"endTime":1269.742,"body":"and testimonials you have, right?"},{"speaker":"Average Joe Finances","startTime":1270.012,"endTime":1273.312,"body":"And I actually recognized a lot"},{"speaker":"Average Joe Finances","startTime":1270.012,"endTime":1273.312,"body":"of big names and multi-family real"},{"speaker":"Average Joe Finances","startTime":1273.312,"endTime":1275.302,"body":"estate talking about your services."},{"speaker":"Average Joe Finances","startTime":1275.302,"endTime":1277.552,"body":"So I was like, okay, so"},{"speaker":"Average Joe Finances","startTime":1275.302,"endTime":1277.552,"body":"this is like the real deal."},{"speaker":"Average Joe Finances","startTime":1277.982,"endTime":1282.667,"body":"Now, I wanted to ask you I wanna go"},{"speaker":"Average Joe Finances","startTime":1277.982,"endTime":1282.667,"body":"back to that deal you were describing"},{"speaker":"Average Joe Finances","startTime":1282.667,"endTime":1286.327,"body":"before, because you had mentioned how,"},{"speaker":"Average Joe Finances","startTime":1282.667,"endTime":1286.327,"body":"when you do a 1031 exchange right?"},{"speaker":"Average Joe Finances","startTime":1286.327,"endTime":1288.337,"body":"That depreciation schedule follows, right?"},{"speaker":"Average Joe Finances","startTime":1288.577,"endTime":1291.967,"body":"So it's always gonna follow to the next"},{"speaker":"Average Joe Finances","startTime":1288.577,"endTime":1291.967,"body":"deal, to the next deal, to the next deal."},{"speaker":"Average Joe Finances","startTime":1292.217,"endTime":1293.262,"body":"And then you have nothing left."},{"speaker":"Average Joe Finances","startTime":1293.317,"endTime":1297.137,"body":"So you're paying full taxes"},{"speaker":"Average Joe Finances","startTime":1293.317,"endTime":1297.137,"body":"on that asset at that point."},{"speaker":"Average Joe Finances","startTime":1297.527,"endTime":1302.872,"body":"Now I know that because this doesn't"},{"speaker":"Average Joe Finances","startTime":1297.527,"endTime":1302.872,"body":"fall under that same rule set, but"},{"speaker":"Average Joe Finances","startTime":1302.877,"endTime":1308.012,"body":"how does somebody like, how did that"},{"speaker":"Average Joe Finances","startTime":1302.877,"endTime":1308.012,"body":"guy actually go and take the money"},{"speaker":"Average Joe Finances","startTime":1308.012,"endTime":1311.507,"body":"out to the trust to put it into the"},{"speaker":"Average Joe Finances","startTime":1308.012,"endTime":1311.507,"body":"new LC without there being some type"},{"speaker":"Average Joe Finances","startTime":1311.507,"endTime":1314.357,"body":"of tax burden in that transaction?"},{"speaker":"Average Joe Finances","startTime":1314.362,"endTime":1314.777,"body":"You know what I'm saying?"},{"speaker":"Average Joe Finances","startTime":1314.827,"endTime":1317.857,"body":"Cuz he's moving it to a new entity, right?"},{"speaker":"Brett Swarts","startTime":1317.917,"endTime":1318.127,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1318.277,"endTime":1320.737,"body":"So wouldn't"},{"speaker":"Average Joe Finances","startTime":1318.277,"endTime":1320.737,"body":"that create some type of burden?"},{"speaker":"Brett Swarts","startTime":1321.487,"endTime":1321.637,"body":"Yeah."},{"speaker":"Brett Swarts","startTime":1321.637,"endTime":1323.137,"body":"The answer is he didn't take it out."},{"speaker":"Brett Swarts","startTime":1323.407,"endTime":1326.897,"body":"The answer is the trust joint"},{"speaker":"Brett Swarts","startTime":1323.407,"endTime":1326.897,"body":"venture partnered with him in an LLC."},{"speaker":"Brett Swarts","startTime":1327.592,"endTime":1328.702,"body":"He's a managing member."},{"speaker":"Brett Swarts","startTime":1328.702,"endTime":1331.312,"body":"He's putting the sweat equity, he"},{"speaker":"Brett Swarts","startTime":1328.702,"endTime":1331.312,"body":"found the deal, he sourced the deal."},{"speaker":"Brett Swarts","startTime":1331.312,"endTime":1336.292,"body":"He's putting it all together and like"},{"speaker":"Brett Swarts","startTime":1331.312,"endTime":1336.292,"body":"a sign joint venture partner that he"},{"speaker":"Brett Swarts","startTime":1336.292,"endTime":1337.942,"body":"might get the money from Mike or Brett."},{"speaker":"Brett Swarts","startTime":1338.092,"endTime":1340.102,"body":"He could also get it from the"},{"speaker":"Brett Swarts","startTime":1338.092,"endTime":1340.102,"body":"trust that owes him the money."},{"speaker":"Brett Swarts","startTime":1340.402,"endTime":1342.262,"body":"So the key is he doesn't own the trust."},{"speaker":"Brett Swarts","startTime":1342.267,"endTime":1344.002,"body":"If he owned the trust, he"},{"speaker":"Brett Swarts","startTime":1342.267,"endTime":1344.002,"body":"just sold it to himself."},{"speaker":"Brett Swarts","startTime":1344.007,"endTime":1344.812,"body":"It'd be taxable."},{"speaker":"Brett Swarts","startTime":1344.992,"endTime":1345.962,"body":"It's part of where our role comes in."},{"speaker":"Brett Swarts","startTime":1346.252,"endTime":1347.932,"body":"If people might be curious"},{"speaker":"Brett Swarts","startTime":1346.252,"endTime":1347.932,"body":"about who the players are."},{"speaker":"Brett Swarts","startTime":1348.412,"endTime":1350.002,"body":"Third party unrelated trustee."},{"speaker":"Brett Swarts","startTime":1350.002,"endTime":1350.572,"body":"Hi, that's me."},{"speaker":"Brett Swarts","startTime":1350.572,"endTime":1353.392,"body":"My name is Brett Swarts so I'm a"},{"speaker":"Brett Swarts","startTime":1350.572,"endTime":1353.392,"body":"deferred sales trust expert and we're"},{"speaker":"Brett Swarts","startTime":1353.392,"endTime":1355.972,"body":"the trustee and we provide the services"},{"speaker":"Brett Swarts","startTime":1353.392,"endTime":1355.972,"body":"at Capital Gains tax Solutions,"},{"speaker":"Brett Swarts","startTime":1355.972,"endTime":1359.272,"body":"and that's what our role is to be"},{"speaker":"Brett Swarts","startTime":1355.972,"endTime":1359.272,"body":"that third party unrelated trustee."},{"speaker":"Brett Swarts","startTime":1359.722,"endTime":1363.132,"body":"This trust only does business"},{"speaker":"Brett Swarts","startTime":1359.722,"endTime":1363.132,"body":"with him or her or a married"},{"speaker":"Brett Swarts","startTime":1363.132,"endTime":1364.712,"body":"couple, only with that family."},{"speaker":"Brett Swarts","startTime":1365.652,"endTime":1369.022,"body":"And but they don't own the trust"},{"speaker":"Brett Swarts","startTime":1365.652,"endTime":1369.022,"body":"that they own to be taxable, but"},{"speaker":"Brett Swarts","startTime":1369.022,"endTime":1372.232,"body":"they also have all the rights and"},{"speaker":"Brett Swarts","startTime":1369.022,"endTime":1372.232,"body":"protections of a creditor, right?"},{"speaker":"Brett Swarts","startTime":1372.232,"endTime":1373.642,"body":"And they approve of the investments."},{"speaker":"Brett Swarts","startTime":1373.642,"endTime":1374.782,"body":"There can also be co-trustees too."},{"speaker":"Brett Swarts","startTime":1374.782,"endTime":1377.962,"body":"They can have a co-trustee as a CPA"},{"speaker":"Brett Swarts","startTime":1374.782,"endTime":1377.962,"body":"or something as a backup and extra"},{"speaker":"Brett Swarts","startTime":1377.962,"endTime":1379.312,"body":"transparency and all that stuff."},{"speaker":"Brett Swarts","startTime":1379.312,"endTime":1382.944,"body":"So these are the things that we help"},{"speaker":"Brett Swarts","startTime":1379.312,"endTime":1382.944,"body":"work through people with how to do it."},{"speaker":"Brett Swarts","startTime":1383.637,"endTime":1385.797,"body":"By the way, this isn't"},{"speaker":"Brett Swarts","startTime":1383.637,"endTime":1385.797,"body":"unlike a 1031 exchange."},{"speaker":"Brett Swarts","startTime":1385.827,"endTime":1389.337,"body":"A third party qualified intermediary is"},{"speaker":"Brett Swarts","startTime":1385.827,"endTime":1389.337,"body":"where the funds are sent, and you have"},{"speaker":"Brett Swarts","startTime":1389.337,"endTime":1392.877,"body":"to follow their rules and you give up"},{"speaker":"Brett Swarts","startTime":1389.337,"endTime":1392.877,"body":"some control during that time period."},{"speaker":"Brett Swarts","startTime":1393.087,"endTime":1394.917,"body":"This deferred sales"},{"speaker":"Brett Swarts","startTime":1393.087,"endTime":1394.917,"body":"trust is like that too."},{"speaker":"Brett Swarts","startTime":1394.917,"endTime":1397.287,"body":"You give up some control, you"},{"speaker":"Brett Swarts","startTime":1394.917,"endTime":1397.287,"body":"don't give up all control."},{"speaker":"Brett Swarts","startTime":1397.617,"endTime":1401.727,"body":"The funds do get paid back to you, and"},{"speaker":"Brett Swarts","startTime":1397.617,"endTime":1401.727,"body":"you pay tax slowly, but you work with"},{"speaker":"Brett Swarts","startTime":1401.732,"endTime":1407.157,"body":"a third party to be able to unlock"},{"speaker":"Brett Swarts","startTime":1401.732,"endTime":1407.157,"body":"these freedoms for you and your family."},{"speaker":"Brett Swarts","startTime":1407.157,"endTime":1408.867,"body":"And yeah that's the main"},{"speaker":"Brett Swarts","startTime":1407.157,"endTime":1408.867,"body":"answer to that one, Michael."},{"speaker":"Average Joe Finances","startTime":1409.827,"endTime":1410.667,"body":"No I appreciate that."},{"speaker":"Average Joe Finances","startTime":1410.667,"endTime":1413.647,"body":"I was just trying to dive a little"},{"speaker":"Average Joe Finances","startTime":1410.667,"endTime":1413.647,"body":"bit deeper to really, deepen my"},{"speaker":"Average Joe Finances","startTime":1413.647,"endTime":1417.187,"body":"understanding of how this works cuz"},{"speaker":"Average Joe Finances","startTime":1413.647,"endTime":1417.187,"body":"that's amazing, Brett, I really, I'm"},{"speaker":"Average Joe Finances","startTime":1417.187,"endTime":1420.877,"body":"really enjoying this and learning a"},{"speaker":"Average Joe Finances","startTime":1417.187,"endTime":1420.877,"body":"lot, so I definitely appreciate that"},{"speaker":"Average Joe Finances","startTime":1421.147,"endTime":1424.237,"body":"and I think it's important that, for"},{"speaker":"Average Joe Finances","startTime":1421.147,"endTime":1424.237,"body":"my listeners here, that they get a good"},{"speaker":"Average Joe Finances","startTime":1424.237,"endTime":1427.997,"body":"understanding of how this works cause"},{"speaker":"Average Joe Finances","startTime":1424.237,"endTime":1427.997,"body":"a lot of them might, be in a situation"},{"speaker":"Average Joe Finances","startTime":1427.997,"endTime":1431.577,"body":"where they're getting ready to exit a"},{"speaker":"Average Joe Finances","startTime":1427.997,"endTime":1431.577,"body":"very large deal and they're like, Hey I"},{"speaker":"Average Joe Finances","startTime":1431.577,"endTime":1433.807,"body":"don't know if I wanna do a 1031 exchange."},{"speaker":"Average Joe Finances","startTime":1433.822,"endTime":1436.492,"body":"Now they're listening to this and Hey,"},{"speaker":"Average Joe Finances","startTime":1433.822,"endTime":1436.492,"body":"maybe I should do a deferred sales trust."},{"speaker":"Average Joe Finances","startTime":1436.862,"endTime":1437.487,"body":"That's awesome."},{"speaker":"Average Joe Finances","startTime":1437.697,"endTime":1444.427,"body":"Now, what made you so when you retired"},{"speaker":"Average Joe Finances","startTime":1437.697,"endTime":1444.427,"body":"from Cheesecake Factory, right?"},{"speaker":"Average Joe Finances","startTime":1444.667,"endTime":1447.757,"body":"What made you decide to"},{"speaker":"Average Joe Finances","startTime":1444.667,"endTime":1447.757,"body":"start this organization?"},{"speaker":"Brett Swarts","startTime":1449.307,"endTime":1449.637,"body":"Yeah."},{"speaker":"Brett Swarts","startTime":1449.637,"endTime":1452.457,"body":"So I think the biggest thing is just"},{"speaker":"Brett Swarts","startTime":1449.637,"endTime":1452.457,"body":"seeing the transformation for my"},{"speaker":"Brett Swarts","startTime":1452.457,"endTime":1458.777,"body":"clients and seeing the freedom that it"},{"speaker":"Brett Swarts","startTime":1452.457,"endTime":1458.777,"body":"unlocks and honestly it's a challenging,"},{"speaker":"Brett Swarts","startTime":1458.977,"endTime":1460.477,"body":"challenging sale, if you will."},{"speaker":"Brett Swarts","startTime":1460.477,"endTime":1462.937,"body":"I was selling commercial real estate"},{"speaker":"Brett Swarts","startTime":1460.477,"endTime":1462.937,"body":"and I was doing 10 w one exchanges in"},{"speaker":"Brett Swarts","startTime":1462.937,"endTime":1466.507,"body":"Delawares, and those are all very common,"},{"speaker":"Brett Swarts","startTime":1462.937,"endTime":1466.507,"body":"and I've always liked a challenge."},{"speaker":"Brett Swarts","startTime":1466.512,"endTime":1469.697,"body":"I had two degrees in a minor, played"},{"speaker":"Brett Swarts","startTime":1466.512,"endTime":1469.697,"body":"basketball in college, and, did, and"},{"speaker":"Brett Swarts","startTime":1469.702,"endTime":1472.887,"body":"did all of that while doing the doing"},{"speaker":"Brett Swarts","startTime":1469.702,"endTime":1472.887,"body":"the internship at Marcus of Millichap."},{"speaker":"Brett Swarts","startTime":1473.097,"endTime":1475.872,"body":"My wife and I have five kids"},{"speaker":"Brett Swarts","startTime":1473.097,"endTime":1475.872,"body":"married almost 14 years."},{"speaker":"Brett Swarts","startTime":1475.872,"endTime":1479.612,"body":"And, I've always liked the challenge of"},{"speaker":"Brett Swarts","startTime":1475.872,"endTime":1479.612,"body":"something, I'm just, I've been competitive"},{"speaker":"Brett Swarts","startTime":1479.612,"endTime":1483.932,"body":"and I like working with people and so I"},{"speaker":"Brett Swarts","startTime":1479.612,"endTime":1483.932,"body":"fell in love with the ability to help my"},{"speaker":"Brett Swarts","startTime":1483.932,"endTime":1487.912,"body":"clients and then the challenge of this,"},{"speaker":"Brett Swarts","startTime":1483.932,"endTime":1487.912,"body":"I would always like going to the away"},{"speaker":"Brett Swarts","startTime":1487.912,"endTime":1490.782,"body":"basketball games, those were my favorite"},{"speaker":"Brett Swarts","startTime":1487.912,"endTime":1490.782,"body":"because the crowd was against you."},{"speaker":"Brett Swarts","startTime":1490.792,"endTime":1493.912,"body":"And they were talking trash and they'd,"},{"speaker":"Brett Swarts","startTime":1490.792,"endTime":1493.912,"body":"be pulling your shorts and you're taking"},{"speaker":"Brett Swarts","startTime":1493.912,"endTime":1497.752,"body":"'em out, taking the ball out of bound and"},{"speaker":"Brett Swarts","startTime":1493.912,"endTime":1497.752,"body":"girls would be whistling and guys, same."},{"speaker":"Brett Swarts","startTime":1498.022,"endTime":1498.742,"body":"And I always liked it."},{"speaker":"Brett Swarts","startTime":1498.742,"endTime":1500.122,"body":"I don't like, drove me to be better."},{"speaker":"Brett Swarts","startTime":1500.127,"endTime":1502.397,"body":"And we would we won all of our"},{"speaker":"Brett Swarts","startTime":1500.127,"endTime":1502.397,"body":"championships in, in high school"},{"speaker":"Brett Swarts","startTime":1502.397,"endTime":1503.387,"body":"and stuff, which was really cool."},{"speaker":"Brett Swarts","startTime":1503.387,"endTime":1505.567,"body":"And went to Columbus to the"},{"speaker":"Brett Swarts","startTime":1503.387,"endTime":1505.567,"body":"state final game in California."},{"speaker":"Brett Swarts","startTime":1505.567,"endTime":1506.167,"body":"Really cool stuff."},{"speaker":"Brett Swarts","startTime":1506.407,"endTime":1510.312,"body":"But the point was, I love the"},{"speaker":"Brett Swarts","startTime":1506.407,"endTime":1510.312,"body":"kind of the underdog, if you will."},{"speaker":"Brett Swarts","startTime":1510.312,"endTime":1512.412,"body":"In fact, when I was, I looked"},{"speaker":"Brett Swarts","startTime":1510.312,"endTime":1512.412,"body":"about this at Marcus and Millichap,"},{"speaker":"Brett Swarts","startTime":1512.412,"endTime":1514.992,"body":"this is another part of the inside"},{"speaker":"Brett Swarts","startTime":1512.412,"endTime":1514.992,"body":"story, Mike, which is funny."},{"speaker":"Brett Swarts","startTime":1515.202,"endTime":1520.572,"body":"There was 30 of us in 2009 who actually"},{"speaker":"Brett Swarts","startTime":1515.202,"endTime":1520.572,"body":"saw and learned about this one of, one"},{"speaker":"Brett Swarts","startTime":1520.577,"endTime":1522.432,"body":"of our strategic alliances at the time."},{"speaker":"Brett Swarts","startTime":1522.912,"endTime":1526.347,"body":"And and all of a sudden like"},{"speaker":"Brett Swarts","startTime":1522.912,"endTime":1526.347,"body":"we're going, whoa, this is real."},{"speaker":"Brett Swarts","startTime":1526.882,"endTime":1527.632,"body":"Too good to be true."},{"speaker":"Brett Swarts","startTime":1528.322,"endTime":1531.492,"body":"We thought we were the ninjas of 1031"},{"speaker":"Brett Swarts","startTime":1528.322,"endTime":1531.492,"body":"exchanges and like the Marcus and"},{"speaker":"Brett Swarts","startTime":1531.492,"endTime":1534.172,"body":"Millichap from the best in the country"},{"speaker":"Brett Swarts","startTime":1531.492,"endTime":1534.172,"body":"and the best training and all this stuff."},{"speaker":"Brett Swarts","startTime":1534.592,"endTime":1537.082,"body":"And a lot of us sat there"},{"speaker":"Brett Swarts","startTime":1534.592,"endTime":1537.082,"body":"saying, too good to be true."},{"speaker":"Brett Swarts","startTime":1537.087,"endTime":1539.512,"body":"But a couple of us said, oh, I'm"},{"speaker":"Brett Swarts","startTime":1537.087,"endTime":1539.512,"body":"curious enough to say if this is"},{"speaker":"Brett Swarts","startTime":1539.512,"endTime":1540.592,"body":"true, this will change everything."},{"speaker":"Brett Swarts","startTime":1540.952,"endTime":1543.473,"body":"And that began the journey of"},{"speaker":"Brett Swarts","startTime":1540.952,"endTime":1543.473,"body":"studying and practicing it."},{"speaker":"Brett Swarts","startTime":1544.182,"endTime":1545.767,"body":"And then meeting the genius behind it."},{"speaker":"Brett Swarts","startTime":1545.767,"endTime":1547.657,"body":"And I think he's like"},{"speaker":"Brett Swarts","startTime":1545.767,"endTime":1547.657,"body":"the Elon Musk of tax."},{"speaker":"Brett Swarts","startTime":1547.997,"endTime":1550.417,"body":"His name is Todd and he's one"},{"speaker":"Brett Swarts","startTime":1547.997,"endTime":1550.417,"body":"of our strategic alliances"},{"speaker":"Brett Swarts","startTime":1550.417,"endTime":1552.217,"body":"and he does the tax work."},{"speaker":"Brett Swarts","startTime":1552.517,"endTime":1555.577,"body":"Legal work, the IRS audits,"},{"speaker":"Brett Swarts","startTime":1552.517,"endTime":1555.577,"body":"all of that stuff, right?"},{"speaker":"Brett Swarts","startTime":1555.937,"endTime":1556.507,"body":"Which is great."},{"speaker":"Brett Swarts","startTime":1556.537,"endTime":1557.287,"body":"This is so important."},{"speaker":"Brett Swarts","startTime":1557.287,"endTime":1558.697,"body":"The most important I."},{"speaker":"Brett Swarts","startTime":1558.982,"endTime":1560.092,"body":"I'm not the CPA."},{"speaker":"Brett Swarts","startTime":1560.092,"endTime":1561.112,"body":"I'm not the tax guy."},{"speaker":"Brett Swarts","startTime":1561.112,"endTime":1563.392,"body":"And so part of it was I"},{"speaker":"Brett Swarts","startTime":1561.112,"endTime":1563.392,"body":"didn't study to be that."},{"speaker":"Brett Swarts","startTime":1563.512,"endTime":1566.392,"body":"I was just an entrepreneur, real"},{"speaker":"Brett Swarts","startTime":1563.512,"endTime":1566.392,"body":"estate person who fell in love with it."},{"speaker":"Brett Swarts","startTime":1566.992,"endTime":1569.482,"body":"And part of that I think, helps"},{"speaker":"Brett Swarts","startTime":1566.992,"endTime":1569.482,"body":"my clients too, to know that they"},{"speaker":"Brett Swarts","startTime":1569.482,"endTime":1570.952,"body":"don't have to be the CPA Brainiac."},{"speaker":"Brett Swarts","startTime":1570.952,"endTime":1572.842,"body":"We have that person to provide that."},{"speaker":"Brett Swarts","startTime":1573.292,"endTime":1577.132,"body":"But you have someone who's been in their"},{"speaker":"Brett Swarts","startTime":1573.292,"endTime":1577.132,"body":"shoes, who's an entrepreneur, who's"},{"speaker":"Brett Swarts","startTime":1577.222,"endTime":1581.002,"body":"has their own business, whose own real"},{"speaker":"Brett Swarts","startTime":1577.222,"endTime":1581.002,"body":"estate help people sell and transact."},{"speaker":"Brett Swarts","startTime":1581.497,"endTime":1583.837,"body":"So all of the, all the things"},{"speaker":"Brett Swarts","startTime":1581.497,"endTime":1583.837,"body":"came together, honestly."},{"speaker":"Brett Swarts","startTime":1583.837,"endTime":1586.567,"body":"And yeah, we're very passionate"},{"speaker":"Brett Swarts","startTime":1583.837,"endTime":1586.567,"body":"about, about helping a lot of"},{"speaker":"Brett Swarts","startTime":1586.567,"endTime":1587.527,"body":"people, and that's the story here."},{"speaker":"Average Joe Finances","startTime":1587.827,"endTime":1588.037,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1588.042,"endTime":1588.757,"body":"I love that, Brett."},{"speaker":"Average Joe Finances","startTime":1588.757,"endTime":1592.622,"body":"Speaking of that, it sounds like, you"},{"speaker":"Average Joe Finances","startTime":1588.757,"endTime":1592.622,"body":"put a really good team together, right?"},{"speaker":"Average Joe Finances","startTime":1592.622,"endTime":1595.742,"body":"You found the right people to"},{"speaker":"Average Joe Finances","startTime":1592.622,"endTime":1595.742,"body":"s to put in the right spots."},{"speaker":"Average Joe Finances","startTime":1596.162,"endTime":1598.412,"body":"So what does your"},{"speaker":"Average Joe Finances","startTime":1596.162,"endTime":1598.412,"body":"organization look like today?"},{"speaker":"Brett Swarts","startTime":1599.687,"endTime":1604.247,"body":"Yeah, so multiple team"},{"speaker":"Brett Swarts","startTime":1599.687,"endTime":1604.247,"body":"members and growing rapidly up to eight"},{"speaker":"Brett Swarts","startTime":1604.297,"endTime":1606.397,"body":"with multiple strategic alliances."},{"speaker":"Brett Swarts","startTime":1606.847,"endTime":1611.287,"body":"So eight, like direct with the team"},{"speaker":"Brett Swarts","startTime":1606.847,"endTime":1611.287,"body":"and then we try to work and partner,"},{"speaker":"Brett Swarts","startTime":1611.447,"endTime":1612.947,"body":"strategic align with is a better way."},{"speaker":"Brett Swarts","startTime":1613.157,"endTime":1616.177,"body":"The best financial advisors,"},{"speaker":"Brett Swarts","startTime":1613.157,"endTime":1616.177,"body":"CPAs, tax attorneys."},{"speaker":"Brett Swarts","startTime":1617.107,"endTime":1621.287,"body":"Luxury real estate agents commercial"},{"speaker":"Brett Swarts","startTime":1617.107,"endTime":1621.287,"body":"real estate brokers, M\u0026A attorneys."},{"speaker":"Brett Swarts","startTime":1621.647,"endTime":1624.257,"body":"And so part of our vision is to"},{"speaker":"Brett Swarts","startTime":1621.647,"endTime":1624.257,"body":"train and coach and align with the"},{"speaker":"Brett Swarts","startTime":1624.257,"endTime":1629.597,"body":"10 top 10,000 across America of all"},{"speaker":"Brett Swarts","startTime":1624.257,"endTime":1629.597,"body":"of the ultra high net worth advisors."},{"speaker":"Brett Swarts","startTime":1629.867,"endTime":1633.407,"body":"So all of the people I talked about so"},{"speaker":"Brett Swarts","startTime":1629.867,"endTime":1633.407,"body":"that they understand and can unlock the"},{"speaker":"Brett Swarts","startTime":1633.407,"endTime":1634.567,"body":"deferred sales trust for their clients."},{"speaker":"Brett Swarts","startTime":1635.037,"endTime":1636.217,"body":"And we'll do the heavy lifting."},{"speaker":"Brett Swarts","startTime":1636.217,"endTime":1638.407,"body":"It's just a matter of"},{"speaker":"Brett Swarts","startTime":1636.217,"endTime":1638.407,"body":"having the awareness."},{"speaker":"Brett Swarts","startTime":1638.937,"endTime":1642.592,"body":"The awareness of it and what's"},{"speaker":"Brett Swarts","startTime":1638.937,"endTime":1642.592,"body":"actually possible, overcoming the false"},{"speaker":"Brett Swarts","startTime":1642.592,"endTime":1644.152,"body":"beliefs, that it's too good to be true."},{"speaker":"Brett Swarts","startTime":1644.182,"endTime":1645.232,"body":"I would've known about it."},{"speaker":"Brett Swarts","startTime":1645.282,"endTime":1646.422,"body":"How's known, it's legal."},{"speaker":"Brett Swarts","startTime":1646.602,"endTime":1649.032,"body":"All the stuff that comes up"},{"speaker":"Brett Swarts","startTime":1646.602,"endTime":1649.032,"body":"from everyone who looks at it."},{"speaker":"Brett Swarts","startTime":1649.032,"endTime":1652.062,"body":"And then they actually look at it"},{"speaker":"Brett Swarts","startTime":1649.032,"endTime":1652.062,"body":"and actually talk to us and they go,"},{"speaker":"Brett Swarts","startTime":1652.482,"endTime":1654.342,"body":"oh my gosh, this actually is real."},{"speaker":"Brett Swarts","startTime":1654.347,"endTime":1654.912,"body":"It's true."},{"speaker":"Brett Swarts","startTime":1655.212,"endTime":1656.352,"body":"It's still batting a thousand, by the way."},{"speaker":"Brett Swarts","startTime":1656.622,"endTime":1658.332,"body":"And all the IRS audits, it's perfect."},{"speaker":"Brett Swarts","startTime":1658.662,"endTime":1662.282,"body":"Multiple audits in California and across"},{"speaker":"Brett Swarts","startTime":1658.662,"endTime":1662.282,"body":"the country and federal and stuff."},{"speaker":"Brett Swarts","startTime":1662.762,"endTime":1666.532,"body":"So that is That is our ever"},{"speaker":"Brett Swarts","startTime":1662.762,"endTime":1666.532,"body":"growing network, if you will."},{"speaker":"Brett Swarts","startTime":1666.532,"endTime":1669.082,"body":"It's not just our internal"},{"speaker":"Brett Swarts","startTime":1666.532,"endTime":1669.082,"body":"team, it's the network."},{"speaker":"Brett Swarts","startTime":1669.087,"endTime":1671.122,"body":"And that's also part of the integrity"},{"speaker":"Brett Swarts","startTime":1669.087,"endTime":1671.122,"body":"of the trust, by the way too."},{"speaker":"Brett Swarts","startTime":1671.122,"endTime":1674.812,"body":"It's not all in one house that this,"},{"speaker":"Brett Swarts","startTime":1671.122,"endTime":1674.812,"body":"the tax, the financial advisor,"},{"speaker":"Brett Swarts","startTime":1674.812,"endTime":1677.062,"body":"the trustee, in fact, they all"},{"speaker":"Brett Swarts","startTime":1674.812,"endTime":1677.062,"body":"need to be separate to keep the"},{"speaker":"Brett Swarts","startTime":1677.062,"endTime":1679.672,"body":"integrity and also the transparency"},{"speaker":"Brett Swarts","startTime":1677.062,"endTime":1679.672,"body":"for everything that's going on."},{"speaker":"Average Joe Finances","startTime":1680.512,"endTime":1682.192,"body":"I definitely"},{"speaker":"Average Joe Finances","startTime":1680.512,"endTime":1682.192,"body":"appreciate that, and I appreciate the"},{"speaker":"Average Joe Finances","startTime":1682.192,"endTime":1685.272,"body":"transparency as well, because that's"},{"speaker":"Average Joe Finances","startTime":1682.192,"endTime":1685.272,"body":"one of the things that kind of separates"},{"speaker":"Average Joe Finances","startTime":1685.272,"endTime":1687.472,"body":"you from, your competitors, right?"},{"speaker":"Average Joe Finances","startTime":1687.472,"endTime":1690.772,"body":"Because here you are you're"},{"speaker":"Average Joe Finances","startTime":1687.472,"endTime":1690.772,"body":"providing the service, but you also"},{"speaker":"Average Joe Finances","startTime":1690.772,"endTime":1695.402,"body":"have these third parties that are"},{"speaker":"Average Joe Finances","startTime":1690.772,"endTime":1695.402,"body":"a part of it, but keep the, that"},{"speaker":"Average Joe Finances","startTime":1695.402,"endTime":1697.203,"body":"whole cycle going smoothly, right?"},{"speaker":"Average Joe Finances","startTime":1697.862,"endTime":1703.142,"body":"And everyone else that's, essentially a"},{"speaker":"Average Joe Finances","startTime":1697.862,"endTime":1703.142,"body":"third party has their own opinion, right?"},{"speaker":"Average Joe Finances","startTime":1703.172,"endTime":1704.282,"body":"And can."},{"speaker":"Average Joe Finances","startTime":1704.612,"endTime":1707.132,"body":"Can ask those questions that"},{"speaker":"Average Joe Finances","startTime":1704.612,"endTime":1707.132,"body":"you know, somebody that was"},{"speaker":"Average Joe Finances","startTime":1707.132,"endTime":1708.092,"body":"in the house might not ask."},{"speaker":"Average Joe Finances","startTime":1708.857,"endTime":1711.512,"body":"Because they're not, they"},{"speaker":"Average Joe Finances","startTime":1708.857,"endTime":1711.512,"body":"don't essentially work for you."},{"speaker":"Brett Swarts","startTime":1711.612,"endTime":1712.392,"body":"It's a great point."},{"speaker":"Brett Swarts","startTime":1712.392,"endTime":1715.992,"body":"Honestly, it's one of the most key"},{"speaker":"Brett Swarts","startTime":1712.392,"endTime":1715.992,"body":"points because, once you understand"},{"speaker":"Brett Swarts","startTime":1715.992,"endTime":1717.957,"body":"that there's, in order for something"},{"speaker":"Brett Swarts","startTime":1715.992,"endTime":1717.957,"body":"to go wrong, there's gotta be"},{"speaker":"Brett Swarts","startTime":1717.957,"endTime":1719.397,"body":"a lot of people that go wrong."},{"speaker":"Brett Swarts","startTime":1719.397,"endTime":1721.467,"body":"And the, and then we also have"},{"speaker":"Brett Swarts","startTime":1719.397,"endTime":1721.467,"body":"a third party tax payer who's"},{"speaker":"Brett Swarts","startTime":1721.472,"endTime":1722.787,"body":"providing all the tax returns."},{"speaker":"Brett Swarts","startTime":1723.187,"endTime":1726.307,"body":"We have a 54, 5 year old CPA"},{"speaker":"Brett Swarts","startTime":1723.187,"endTime":1726.307,"body":"firm for another reference."},{"speaker":"Brett Swarts","startTime":1726.307,"endTime":1729.467,"body":"We have, national law firms that"},{"speaker":"Brett Swarts","startTime":1726.307,"endTime":1729.467,"body":"have done reviews and there's just a"},{"speaker":"Brett Swarts","startTime":1729.467,"endTime":1731.567,"body":"ton of body of evidence there that."},{"speaker":"Brett Swarts","startTime":1732.087,"endTime":1735.037,"body":"Given enough, I would say give people,"},{"speaker":"Brett Swarts","startTime":1732.087,"endTime":1735.037,"body":"give me five hours, one hour to meet"},{"speaker":"Brett Swarts","startTime":1735.037,"endTime":1737.257,"body":"with me, to get to know you, understand"},{"speaker":"Brett Swarts","startTime":1735.037,"endTime":1737.257,"body":"your needs, your challenges, your"},{"speaker":"Brett Swarts","startTime":1737.257,"endTime":1738.877,"body":"problems, your desires, your ambitions."},{"speaker":"Brett Swarts","startTime":1739.237,"endTime":1743.472,"body":"One hour with the tax attorney to get"},{"speaker":"Brett Swarts","startTime":1739.237,"endTime":1743.472,"body":"technical and legal one hour with our"},{"speaker":"Brett Swarts","startTime":1743.482,"endTime":1745.372,"body":"with our clients, talking with references."},{"speaker":"Brett Swarts","startTime":1745.672,"endTime":1749.183,"body":"One hour of the actual financial"},{"speaker":"Brett Swarts","startTime":1745.672,"endTime":1749.183,"body":"plan itself and then one hour with"},{"speaker":"Brett Swarts","startTime":1749.188,"endTime":1753.622,"body":"your deal and literally it can change"},{"speaker":"Brett Swarts","startTime":1749.188,"endTime":1753.622,"body":"your entire family legacy for wealth."},{"speaker":"Brett Swarts","startTime":1753.672,"endTime":1755.742,"body":"One thing you mentioned before, like"},{"speaker":"Brett Swarts","startTime":1753.672,"endTime":1755.742,"body":"what else could it separate from"},{"speaker":"Brett Swarts","startTime":1755.747,"endTime":1758.982,"body":"the Delaware and the 1031 by the"},{"speaker":"Brett Swarts","startTime":1755.747,"endTime":1758.982,"body":"part of the challenge part one of"},{"speaker":"Brett Swarts","startTime":1758.982,"endTime":1760.242,"body":"the good things at 1031 at Delaware."},{"speaker":"Brett Swarts","startTime":1760.587,"endTime":1763.167,"body":"Is that it maintains a stepped up"},{"speaker":"Brett Swarts","startTime":1760.587,"endTime":1763.167,"body":"basis in the deferred sales trust."},{"speaker":"Brett Swarts","startTime":1763.167,"endTime":1765.507,"body":"You lose the stepped up basis because"},{"speaker":"Brett Swarts","startTime":1763.167,"endTime":1765.507,"body":"you're going in an installment,"},{"speaker":"Brett Swarts","startTime":1765.507,"endTime":1766.887,"body":"which is a downside for sure, right?"},{"speaker":"Brett Swarts","startTime":1767.297,"endTime":1770.087,"body":"But here's the other upside of the"},{"speaker":"Brett Swarts","startTime":1767.297,"endTime":1770.087,"body":"deferred sales trust plus we can"},{"speaker":"Brett Swarts","startTime":1770.087,"endTime":1773.207,"body":"get funds outside the taxable estate"},{"speaker":"Brett Swarts","startTime":1770.087,"endTime":1773.207,"body":"and we can eliminate what's called"},{"speaker":"Brett Swarts","startTime":1773.207,"endTime":1776.537,"body":"a 40% debt tax, which has nothing"},{"speaker":"Brett Swarts","startTime":1773.207,"endTime":1776.537,"body":"to do with the stepped up basis."},{"speaker":"Brett Swarts","startTime":1776.542,"endTime":1778.067,"body":"In fact, you can either"},{"speaker":"Brett Swarts","startTime":1776.542,"endTime":1778.067,"body":"have one or the other."},{"speaker":"Brett Swarts","startTime":1778.072,"endTime":1781.187,"body":"You can have a stepped up basis, or"},{"speaker":"Brett Swarts","startTime":1778.072,"endTime":1781.187,"body":"you can get it outside your taxable"},{"speaker":"Brett Swarts","startTime":1781.187,"endTime":1782.867,"body":"estate, but you can't have both."},{"speaker":"Brett Swarts","startTime":1783.387,"endTime":1787.717,"body":"And so we walk people through how to"},{"speaker":"Brett Swarts","startTime":1783.387,"endTime":1787.717,"body":"do this legally without having to give"},{"speaker":"Brett Swarts","startTime":1787.717,"endTime":1790.987,"body":"it all away to charity, without having"},{"speaker":"Brett Swarts","startTime":1787.717,"endTime":1790.987,"body":"to have 50 kids and gifted away without"},{"speaker":"Brett Swarts","startTime":1790.987,"endTime":1792.227,"body":"having to buy a bunch of life insurance."},{"speaker":"Brett Swarts","startTime":1792.937,"endTime":1796.837,"body":"Really nice way upon an exit to"},{"speaker":"Brett Swarts","startTime":1792.937,"endTime":1796.837,"body":"just be done with that challenge."},{"speaker":"Brett Swarts","startTime":1797.547,"endTime":1801.002,"body":"And it's helping people understand"},{"speaker":"Brett Swarts","startTime":1797.547,"endTime":1801.002,"body":"that and seeing the professionals"},{"speaker":"Brett Swarts","startTime":1801.002,"endTime":1803.972,"body":"that are involved to everyone"},{"speaker":"Brett Swarts","startTime":1801.002,"endTime":1803.972,"body":"to work as a team, right?"},{"speaker":"Brett Swarts","startTime":1804.032,"endTime":1805.322,"body":"It's not just one person."},{"speaker":"Brett Swarts","startTime":1805.682,"endTime":1808.712,"body":"And that's why it is a bit complex"},{"speaker":"Brett Swarts","startTime":1805.682,"endTime":1808.712,"body":"because there's multiple parties."},{"speaker":"Brett Swarts","startTime":1809.072,"endTime":1811.407,"body":"But when all of the puzzle pieces"},{"speaker":"Brett Swarts","startTime":1809.072,"endTime":1811.407,"body":"come together and there's just a"},{"speaker":"Brett Swarts","startTime":1811.407,"endTime":1815.347,"body":"few and people, once they spend"},{"speaker":"Brett Swarts","startTime":1811.407,"endTime":1815.347,"body":"time with us and then it clicks,"},{"speaker":"Brett Swarts","startTime":1815.347,"endTime":1816.907,"body":"they're like, okay, this is great."},{"speaker":"Brett Swarts","startTime":1816.997,"endTime":1817.867,"body":"I'm all in."},{"speaker":"Brett Swarts","startTime":1818.137,"endTime":1820.747,"body":"And then they're referring us all"},{"speaker":"Brett Swarts","startTime":1818.137,"endTime":1820.747,"body":"to business and we grow that way."},{"speaker":"Brett Swarts","startTime":1820.747,"endTime":1822.727,"body":"And that's our favorite way to"},{"speaker":"Brett Swarts","startTime":1820.747,"endTime":1822.727,"body":"grow is through word of mouth."},{"speaker":"Average Joe Finances","startTime":1823.627,"endTime":1824.077,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1824.077,"endTime":1824.827,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":1824.827,"endTime":1828.067,"body":"All right, so Brett, I have one more"},{"speaker":"Average Joe Finances","startTime":1824.827,"endTime":1828.067,"body":"question I want to ask you before we"},{"speaker":"Average Joe Finances","startTime":1828.067,"endTime":1829.717,"body":"transition this to the final round."},{"speaker":"Average Joe Finances","startTime":1830.137,"endTime":1830.587,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1830.587,"endTime":1834.152,"body":"And it's a simple question, but"},{"speaker":"Average Joe Finances","startTime":1830.587,"endTime":1834.152,"body":"you've, you do so much, right?"},{"speaker":"Average Joe Finances","startTime":1834.152,"endTime":1838.322,"body":"Like you, you've been able to grow"},{"speaker":"Average Joe Finances","startTime":1834.152,"endTime":1838.322,"body":"so much from where you first started."},{"speaker":"Average Joe Finances","startTime":1838.322,"endTime":1841.273,"body":"And I want to know what is your why"},{"speaker":"Average Joe Finances","startTime":1838.322,"endTime":1841.273,"body":"are you doing what you're doing?"},{"speaker":"Brett Swarts","startTime":1842.922,"endTime":1843.072,"body":"Yeah."},{"speaker":"Brett Swarts","startTime":1843.072,"endTime":1844.092,"body":"I would say it's there's really."},{"speaker":"Brett Swarts","startTime":1844.557,"endTime":1845.367,"body":"Two main ones."},{"speaker":"Brett Swarts","startTime":1845.367,"endTime":1846.927,"body":"It's my faith in my family, right?"},{"speaker":"Brett Swarts","startTime":1847.007,"endTime":1851.087,"body":"My faith and believing that I've"},{"speaker":"Brett Swarts","startTime":1847.007,"endTime":1851.087,"body":"been given certain gifts and these"},{"speaker":"Brett Swarts","startTime":1851.087,"endTime":1853.337,"body":"gifts have been given to me to"},{"speaker":"Brett Swarts","startTime":1851.087,"endTime":1853.337,"body":"be a blessing and help to others."},{"speaker":"Brett Swarts","startTime":1853.397,"endTime":1858.192,"body":"And it's my responsibility to maximize"},{"speaker":"Brett Swarts","startTime":1853.397,"endTime":1858.192,"body":"these gifts and to bless as many people"},{"speaker":"Brett Swarts","startTime":1858.192,"endTime":1860.422,"body":"as I can with the gifts and know that"},{"speaker":"Brett Swarts","startTime":1858.192,"endTime":1860.422,"body":"there's a higher purpose for these."},{"speaker":"Brett Swarts","startTime":1861.122,"endTime":1864.242,"body":"And as a part of that higher purpose is"},{"speaker":"Brett Swarts","startTime":1861.122,"endTime":1864.242,"body":"the battle for the wealth of America."},{"speaker":"Brett Swarts","startTime":1864.632,"endTime":1866.852,"body":"In fact, it's happening right"},{"speaker":"Brett Swarts","startTime":1864.632,"endTime":1866.852,"body":"now back to the biggest wealth"},{"speaker":"Brett Swarts","startTime":1866.852,"endTime":1867.902,"body":"chance in history of the planet."},{"speaker":"Brett Swarts","startTime":1868.667,"endTime":1873.377,"body":"If you think about this, if people don't"},{"speaker":"Brett Swarts","startTime":1868.667,"endTime":1873.377,"body":"know about these legal tax deferral ways"},{"speaker":"Brett Swarts","startTime":1873.377,"endTime":1878.517,"body":"to grow your wealth there's 32 trillion"},{"speaker":"Brett Swarts","startTime":1873.377,"endTime":1878.517,"body":"is the estimation that's gonna transfer"},{"speaker":"Brett Swarts","startTime":1878.517,"endTime":1879.927,"body":"from the baby boom to the millennials."},{"speaker":"Brett Swarts","startTime":1880.497,"endTime":1883.557,"body":"And if that 32 trillion, I believe,"},{"speaker":"Brett Swarts","startTime":1880.497,"endTime":1883.557,"body":"if it's with the government,"},{"speaker":"Brett Swarts","startTime":1883.562,"endTime":1886.527,"body":"no matter what side you vote"},{"speaker":"Brett Swarts","startTime":1883.562,"endTime":1886.527,"body":"for, it's gonna be wasted away."},{"speaker":"Brett Swarts","startTime":1887.507,"endTime":1889.997,"body":"They've already proven to us"},{"speaker":"Brett Swarts","startTime":1887.507,"endTime":1889.997,"body":"that they don't do a good job of"},{"speaker":"Brett Swarts","startTime":1889.997,"endTime":1893.567,"body":"managing capital or investments or"},{"speaker":"Brett Swarts","startTime":1889.997,"endTime":1893.567,"body":"being good stewards with capital."},{"speaker":"Brett Swarts","startTime":1893.567,"endTime":1897.337,"body":"It's really a sad thing, especially"},{"speaker":"Brett Swarts","startTime":1893.567,"endTime":1897.337,"body":"these last 10 years and being from"},{"speaker":"Brett Swarts","startTime":1897.337,"endTime":1901.072,"body":"Taxifornia and seeing, what's happened"},{"speaker":"Brett Swarts","startTime":1897.337,"endTime":1901.072,"body":"the last 30 years of the state"},{"speaker":"Brett Swarts","startTime":1901.077,"endTime":1904.787,"body":"being kind of dismantled financially"},{"speaker":"Brett Swarts","startTime":1901.077,"endTime":1904.787,"body":"and on so many other ways too."},{"speaker":"Brett Swarts","startTime":1905.167,"endTime":1909.697,"body":"It's a great opportunity to fight for that"},{"speaker":"Brett Swarts","startTime":1905.167,"endTime":1909.697,"body":"freedom because if that 32 trillion in a"},{"speaker":"Brett Swarts","startTime":1909.697,"endTime":1914.587,"body":"legal way can be with the entrepreneurs,"},{"speaker":"Brett Swarts","startTime":1909.697,"endTime":1914.587,"body":"the families, and the people who are"},{"speaker":"Brett Swarts","startTime":1914.587,"endTime":1915.987,"body":"creating jobs and providing housing."},{"speaker":"Brett Swarts","startTime":1917.132,"endTime":1917.767,"body":"Guess what?"},{"speaker":"Brett Swarts","startTime":1917.947,"endTime":1919.207,"body":"There's more freedom for everybody."},{"speaker":"Brett Swarts","startTime":1919.537,"endTime":1922.627,"body":"But if that 32 trillions on the"},{"speaker":"Brett Swarts","startTime":1919.537,"endTime":1922.627,"body":"other side of people either selling"},{"speaker":"Brett Swarts","startTime":1922.627,"endTime":1925.747,"body":"assets or just paying a bunch of tax"},{"speaker":"Brett Swarts","startTime":1922.627,"endTime":1925.747,"body":"and not knowing about these kind of"},{"speaker":"Brett Swarts","startTime":1925.747,"endTime":1927.707,"body":"things, then the freedom's taken away."},{"speaker":"Brett Swarts","startTime":1927.707,"endTime":1931.787,"body":"And so it literally is the battle"},{"speaker":"Brett Swarts","startTime":1927.707,"endTime":1931.787,"body":"and it's behind the scenes, it's tax."},{"speaker":"Brett Swarts","startTime":1931.787,"endTime":1934.428,"body":"You're not thinking about just the"},{"speaker":"Brett Swarts","startTime":1931.787,"endTime":1934.428,"body":"voting for this, voting for that."},{"speaker":"Brett Swarts","startTime":1935.107,"endTime":1937.177,"body":"It's like now this is the tax dollars."},{"speaker":"Brett Swarts","startTime":1937.177,"endTime":1938.317,"body":"This is 32 trillion."},{"speaker":"Brett Swarts","startTime":1939.157,"endTime":1942.067,"body":"So that's a big part of it, and that's"},{"speaker":"Brett Swarts","startTime":1939.157,"endTime":1942.067,"body":"part of the higher calling piece of it"},{"speaker":"Brett Swarts","startTime":1942.097,"endTime":1943.777,"body":"to be a part of something really big."},{"speaker":"Brett Swarts","startTime":1944.077,"endTime":1945.697,"body":"And then the next one is my family, right?"},{"speaker":"Brett Swarts","startTime":1945.697,"endTime":1950.172,"body":"So I love my children, my wife, and"},{"speaker":"Brett Swarts","startTime":1945.697,"endTime":1950.172,"body":"the ability to be a great example"},{"speaker":"Brett Swarts","startTime":1950.177,"endTime":1953.877,"body":"for them to to show them I have an"},{"speaker":"Brett Swarts","startTime":1950.177,"endTime":1953.877,"body":"opportunity to help a lot of people"},{"speaker":"Brett Swarts","startTime":1953.877,"endTime":1955.197,"body":"and they can do the same thing."},{"speaker":"Brett Swarts","startTime":1955.617,"endTime":1956.902,"body":"My wife stays home"},{"speaker":"Brett Swarts","startTime":1955.617,"endTime":1956.902,"body":"full-time with our kids."},{"speaker":"Brett Swarts","startTime":1956.902,"endTime":1959.727,"body":"As part of our vision and our goal,"},{"speaker":"Brett Swarts","startTime":1956.902,"endTime":1959.727,"body":"she's been able to do it full-time."},{"speaker":"Brett Swarts","startTime":1960.117,"endTime":1963.447,"body":"She's living her dream of homeschooling"},{"speaker":"Brett Swarts","startTime":1960.117,"endTime":1963.447,"body":"our kids, which has been amazing, and"},{"speaker":"Brett Swarts","startTime":1963.447,"endTime":1967.227,"body":"being able to adventure and be halftime"},{"speaker":"Brett Swarts","startTime":1963.447,"endTime":1967.227,"body":"in Florida, halftime in California."},{"speaker":"Brett Swarts","startTime":1967.857,"endTime":1971.847,"body":"Part of that vision is living a thousand"},{"speaker":"Brett Swarts","startTime":1967.857,"endTime":1971.847,"body":"days in a hundred different locations"},{"speaker":"Brett Swarts","startTime":1971.877,"endTime":1974.937,"body":"with the family doing something"},{"speaker":"Brett Swarts","startTime":1971.877,"endTime":1974.937,"body":"a, adventurous or something new."},{"speaker":"Brett Swarts","startTime":1975.267,"endTime":1979.287,"body":"So we're really focused on not"},{"speaker":"Brett Swarts","startTime":1975.267,"endTime":1979.287,"body":"just growing our wealth and our"},{"speaker":"Brett Swarts","startTime":1979.287,"endTime":1982.017,"body":"finances, but our wealth with"},{"speaker":"Brett Swarts","startTime":1979.287,"endTime":1982.017,"body":"our relationships and our family."},{"speaker":"Brett Swarts","startTime":1982.317,"endTime":1983.517,"body":"So those are my two big wives."},{"speaker":"Average Joe Finances","startTime":1984.137,"endTime":1984.677,"body":"That's awesome."},{"speaker":"Average Joe Finances","startTime":1984.677,"endTime":1985.188,"body":"I appreciate that."},{"speaker":"Average Joe Finances","startTime":1985.188,"endTime":1987.742,"body":"We all, we also homeschool our"},{"speaker":"Average Joe Finances","startTime":1985.188,"endTime":1987.742,"body":"kids too, so that's pretty awesome."},{"speaker":"Average Joe Finances","startTime":1988.277,"endTime":1989.212,"body":"We have that in common."},{"speaker":"Average Joe Finances","startTime":1989.242,"endTime":1989.602,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1989.822,"endTime":1992.132,"body":"I'm gonna go ahead and transfer"},{"speaker":"Average Joe Finances","startTime":1989.822,"endTime":1992.132,"body":"this over now, or transition"},{"speaker":"Average Joe Finances","startTime":1992.132,"endTime":1993.182,"body":"this over to the final round."},{"speaker":"Average Joe Finances","startTime":1993.182,"endTime":1994.862,"body":"It's where I'm gonna ask you"},{"speaker":"Average Joe Finances","startTime":1993.182,"endTime":1994.862,"body":"the same four questions I ask"},{"speaker":"Average Joe Finances","startTime":1994.862,"endTime":1995.882,"body":"everybody that comes on the show."},{"speaker":"Average Joe Finances","startTime":1996.252,"endTime":2000.057,"body":"And it gives us a better idea"},{"speaker":"Average Joe Finances","startTime":1996.252,"endTime":2000.057,"body":"of how Brett is under pressure"},{"speaker":"Average Joe Finances","startTime":2000.057,"endTime":2002.337,"body":"with some pretty tough questions,"},{"speaker":"Average Joe Finances","startTime":2000.057,"endTime":2002.337,"body":"even though they're not that bad."},{"speaker":"Average Joe Finances","startTime":2002.757,"endTime":2004.137,"body":"So you ready to go?"},{"speaker":"Brett Swarts","startTime":2004.267,"endTime":2004.617,"body":"Ready."},{"speaker":"Average Joe Finances","startTime":2005.307,"endTime":2005.997,"body":"All right, let's do it."},{"speaker":"Average Joe Finances","startTime":2006.417,"endTime":2009.687,"body":"So first question is, what is"},{"speaker":"Average Joe Finances","startTime":2006.417,"endTime":2009.687,"body":"the biggest mistake you've made"},{"speaker":"Average Joe Finances","startTime":2009.692,"endTime":2011.007,"body":"in real estate or business?"},{"speaker":"Brett Swarts","startTime":2013.167,"endTime":2017.397,"body":"Moving too fast"},{"speaker":"Brett Swarts","startTime":2013.167,"endTime":2017.397,"body":"without reading all of the contract."},{"speaker":"Brett Swarts","startTime":2018.18,"endTime":2020.3,"body":"It's not so much I didn't read the"},{"speaker":"Brett Swarts","startTime":2018.18,"endTime":2020.3,"body":"contract, it's that I didn't get"},{"speaker":"Brett Swarts","startTime":2020.33,"endTime":2022.01,"body":"third party eyes on the contract."},{"speaker":"Brett Swarts","startTime":2022.49,"endTime":2025.28,"body":"And let's just say,"},{"speaker":"Brett Swarts","startTime":2022.49,"endTime":2025.28,"body":"trusting my gut too much."},{"speaker":"Brett Swarts","startTime":2025.28,"endTime":2026.57,"body":"I'm pretty good at trusting my gut."},{"speaker":"Brett Swarts","startTime":2027.02,"endTime":2033.02,"body":"But for sure, at least a contractor two,"},{"speaker":"Brett Swarts","startTime":2027.02,"endTime":2033.02,"body":"I probably, was taking action too quickly."},{"speaker":"Brett Swarts","startTime":2033.08,"endTime":2036.24,"body":"My personality type is a driver"},{"speaker":"Brett Swarts","startTime":2033.08,"endTime":2036.24,"body":"personality, and I take action and I"},{"speaker":"Brett Swarts","startTime":2036.24,"endTime":2039.63,"body":"go probably should have slowed down on"},{"speaker":"Brett Swarts","startTime":2036.24,"endTime":2039.63,"body":"that, had someone review the writing"},{"speaker":"Brett Swarts","startTime":2040.04,"endTime":2043.52,"body":"and not just trust the relationship"},{"speaker":"Brett Swarts","startTime":2040.04,"endTime":2043.52,"body":"that it would all just work out."},{"speaker":"Brett Swarts","startTime":2043.52,"endTime":2047.03,"body":"So that would be my, I say my"},{"speaker":"Brett Swarts","startTime":2043.52,"endTime":2047.03,"body":"biggest mistake for business."},{"speaker":"Average Joe Finances","startTime":2047.96,"endTime":2048.26,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2048.35,"endTime":2048.74,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2048.74,"endTime":2049.58,"body":"I appreciate that."},{"speaker":"Average Joe Finances","startTime":2050.06,"endTime":2053.21,"body":"All right, Brett, what is something"},{"speaker":"Average Joe Finances","startTime":2050.06,"endTime":2053.21,"body":"that you've learned that you wish"},{"speaker":"Average Joe Finances","startTime":2053.21,"endTime":2054.62,"body":"you knew when you first started?"},{"speaker":"Brett Swarts","startTime":2056.61,"endTime":2060.03,"body":"I think when you say first"},{"speaker":"Brett Swarts","startTime":2056.61,"endTime":2060.03,"body":"started, I would go back to high school."},{"speaker":"Brett Swarts","startTime":2060.76,"endTime":2065.605,"body":"I think that's when I got somewhat more"},{"speaker":"Brett Swarts","startTime":2060.76,"endTime":2065.605,"body":"serious about life college for sure."},{"speaker":"Brett Swarts","startTime":2065.69,"endTime":2068.85,"body":"You start to really think about oh, what"},{"speaker":"Brett Swarts","startTime":2065.69,"endTime":2068.85,"body":"am I gonna do here after high school?"},{"speaker":"Brett Swarts","startTime":2069.09,"endTime":2073.92,"body":"And I would say, I wish I would've"},{"speaker":"Brett Swarts","startTime":2069.09,"endTime":2073.92,"body":"had someone teach me the concept of"},{"speaker":"Brett Swarts","startTime":2073.92,"endTime":2077.94,"body":"learning to work harder on yourself than"},{"speaker":"Brett Swarts","startTime":2073.92,"endTime":2077.94,"body":"you do on your job during high school."},{"speaker":"Brett Swarts","startTime":2077.94,"endTime":2079.68,"body":"It was about getting the A's and the B's."},{"speaker":"Brett Swarts","startTime":2079.77,"endTime":2082.515,"body":"It was about making the teams and"},{"speaker":"Brett Swarts","startTime":2079.77,"endTime":2082.515,"body":"the, trying to get a scholarship."},{"speaker":"Brett Swarts","startTime":2083.395,"endTime":2086.065,"body":"It was about trying to get, be on"},{"speaker":"Brett Swarts","startTime":2083.395,"endTime":2086.065,"body":"the starting team and being the"},{"speaker":"Brett Swarts","startTime":2086.065,"endTime":2089.905,"body":"most valuable player or whatever"},{"speaker":"Brett Swarts","startTime":2086.065,"endTime":2089.905,"body":"that external thing was, right?"},{"speaker":"Brett Swarts","startTime":2090.355,"endTime":2091.465,"body":"And those things were fine."},{"speaker":"Brett Swarts","startTime":2091.495,"endTime":2094.255,"body":"There's nothing wrong with those"},{"speaker":"Brett Swarts","startTime":2091.495,"endTime":2094.255,"body":"things or, going, getting into college."},{"speaker":"Brett Swarts","startTime":2094.255,"endTime":2098.155,"body":"These are all good things, but"},{"speaker":"Brett Swarts","startTime":2094.255,"endTime":2098.155,"body":"They were the minor things."},{"speaker":"Brett Swarts","startTime":2098.155,"endTime":2101.485,"body":"They really were, the major things"},{"speaker":"Brett Swarts","startTime":2098.155,"endTime":2101.485,"body":"were working harder on myself."},{"speaker":"Brett Swarts","startTime":2101.515,"endTime":2104.575,"body":"And someone would've explained the concept"},{"speaker":"Brett Swarts","startTime":2101.515,"endTime":2104.575,"body":"of personal development and leadership."},{"speaker":"Brett Swarts","startTime":2105.035,"endTime":2108.875,"body":"The concept of even more so with"},{"speaker":"Brett Swarts","startTime":2105.035,"endTime":2108.875,"body":"cash flow and building businesses"},{"speaker":"Brett Swarts","startTime":2108.875,"endTime":2112.77,"body":"like Rich Dad, poor Dad, the we"},{"speaker":"Brett Swarts","startTime":2108.875,"endTime":2112.77,"body":"had a good mom who taught us faith"},{"speaker":"Brett Swarts","startTime":2112.77,"endTime":2114.45,"body":"and so that was definitely amazing."},{"speaker":"Brett Swarts","startTime":2114.64,"endTime":2115.78,"body":"No, no complaints there."},{"speaker":"Brett Swarts","startTime":2116.05,"endTime":2119.7,"body":"But it would've been more about"},{"speaker":"Brett Swarts","startTime":2116.05,"endTime":2119.7,"body":"personal development and leadership"},{"speaker":"Brett Swarts","startTime":2120.03,"endTime":2124.38,"body":"and development and working harder,"},{"speaker":"Brett Swarts","startTime":2120.03,"endTime":2124.38,"body":"learning to work harder on those things."},{"speaker":"Brett Swarts","startTime":2124.62,"endTime":2129.42,"body":"Faith, finances, fitness, personal"},{"speaker":"Brett Swarts","startTime":2124.62,"endTime":2129.42,"body":"development rather than just the job."},{"speaker":"Brett Swarts","startTime":2129.425,"endTime":2133.2,"body":"And the job at that point was get"},{"speaker":"Brett Swarts","startTime":2129.425,"endTime":2133.2,"body":"the degree or get, graduate from"},{"speaker":"Brett Swarts","startTime":2133.2,"endTime":2134.51,"body":"high school, getting to college."},{"speaker":"Brett Swarts","startTime":2134.53,"endTime":2137.12,"body":"That was, make the team, which"},{"speaker":"Brett Swarts","startTime":2134.53,"endTime":2137.12,"body":"was, just more temporary stuff."},{"speaker":"Average Joe Finances","startTime":2138.385,"endTime":2138.715,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2138.775,"endTime":2139.315,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2139.315,"endTime":2140.365,"body":"Definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":2140.735,"endTime":2144.395,"body":"This next question, Brett, ties into that"},{"speaker":"Average Joe Finances","startTime":2140.735,"endTime":2144.395,"body":"last one actually, it ties into the last"},{"speaker":"Average Joe Finances","startTime":2144.395,"endTime":2149.285,"body":"two, and that is, do you have any tips or"},{"speaker":"Average Joe Finances","startTime":2144.395,"endTime":2149.285,"body":"tricks that you would recommend to someone"},{"speaker":"Average Joe Finances","startTime":2149.285,"endTime":2151.025,"body":"that is just getting started out today?"},{"speaker":"Brett Swarts","startTime":2152.025,"endTime":2152.645,"body":"Let's clarify."},{"speaker":"Brett Swarts","startTime":2153.015,"endTime":2153.705,"body":"Start out in what?"},{"speaker":"Brett Swarts","startTime":2153.71,"endTime":2155.47,"body":"I'll just take the one"},{"speaker":"Brett Swarts","startTime":2153.71,"endTime":2155.47,"body":"as like an entrepreneur."},{"speaker":"Average Joe Finances","startTime":2155.475,"endTime":2156.85,"body":"Start"},{"speaker":"Average Joe Finances","startTime":2155.475,"endTime":2156.85,"body":"starting out As an entrepreneur"},{"speaker":"Average Joe Finances","startTime":2156.85,"endTime":2157.93,"body":"or a real estate investor."},{"speaker":"Brett Swarts","startTime":2157.935,"endTime":2157.95,"body":"Yeah."},{"speaker":"Brett Swarts","startTime":2158.38,"endTime":2158.8,"body":"Yeah."},{"speaker":"Brett Swarts","startTime":2159.04,"endTime":2162.85,"body":"So as quickly as you"},{"speaker":"Brett Swarts","startTime":2159.04,"endTime":2162.85,"body":"can hire an assistant."},{"speaker":"Brett Swarts","startTime":2163.24,"endTime":2164.83,"body":"It could be virtual, it could be."},{"speaker":"Brett Swarts","startTime":2165.25,"endTime":2170.53,"body":"It could be local, whatever, to do the"},{"speaker":"Brett Swarts","startTime":2165.25,"endTime":2170.53,"body":"things that aren't your natural gifts and"},{"speaker":"Brett Swarts","startTime":2170.53,"endTime":2175.54,"body":"strengths and to take off of your plate so"},{"speaker":"Brett Swarts","startTime":2170.53,"endTime":2175.54,"body":"that you can go maximize your potential."},{"speaker":"Brett Swarts","startTime":2175.96,"endTime":2179.59,"body":"So I wish I would've"},{"speaker":"Brett Swarts","startTime":2175.96,"endTime":2179.59,"body":"done that way earlier."},{"speaker":"Brett Swarts","startTime":2179.92,"endTime":2184.63,"body":"I did too many things solopreneur for"},{"speaker":"Brett Swarts","startTime":2179.92,"endTime":2184.63,"body":"too long, and I'm so grateful for my"},{"speaker":"Brett Swarts","startTime":2184.63,"endTime":2189.04,"body":"team now and what we're building and the"},{"speaker":"Brett Swarts","startTime":2184.63,"endTime":2189.04,"body":"culture and the community and just the"},{"speaker":"Brett Swarts","startTime":2189.04,"endTime":2192.11,"body":"power of amazing people and know that."},{"speaker":"Brett Swarts","startTime":2192.515,"endTime":2196.475,"body":"As entrepreneurs, we think we can"},{"speaker":"Brett Swarts","startTime":2192.515,"endTime":2196.475,"body":"do it all the best by ourselves,"},{"speaker":"Brett Swarts","startTime":2196.895,"endTime":2200.715,"body":"but you're never gonna grow, beyond"},{"speaker":"Brett Swarts","startTime":2196.895,"endTime":2200.715,"body":"yourself and your leadership capacity"},{"speaker":"Brett Swarts","startTime":2200.715,"endTime":2202.125,"body":"to grow other people as leaders."},{"speaker":"Brett Swarts","startTime":2202.695,"endTime":2205.615,"body":"And so I would've just gone that"},{"speaker":"Brett Swarts","startTime":2202.695,"endTime":2205.615,"body":"earlier even then, if I couldn't"},{"speaker":"Brett Swarts","startTime":2205.615,"endTime":2208.815,"body":"afford it or didn't think I could"},{"speaker":"Brett Swarts","startTime":2205.615,"endTime":2208.815,"body":"afford it or all of the excuses or"},{"speaker":"Brett Swarts","startTime":2208.82,"endTime":2210.405,"body":"the fear or the time or whatever."},{"speaker":"Brett Swarts","startTime":2210.405,"endTime":2215.855,"body":"Just go hire and bring in great talent,"},{"speaker":"Brett Swarts","startTime":2210.405,"endTime":2215.855,"body":"mentor, coach them and delegate the"},{"speaker":"Brett Swarts","startTime":2215.855,"endTime":2217.685,"body":"things that aren't your natural strengths."},{"speaker":"Average Joe Finances","startTime":2219.05,"endTime":2220.55,"body":"Absolutely love that answer."},{"speaker":"Average Joe Finances","startTime":2220.63,"endTime":2223.6,"body":"Delegation, outsourcing, all"},{"speaker":"Average Joe Finances","startTime":2220.63,"endTime":2223.6,"body":"of those things are huge."},{"speaker":"Average Joe Finances","startTime":2223.88,"endTime":2226.82,"body":"I know as soon as I hired my"},{"speaker":"Average Joe Finances","startTime":2223.88,"endTime":2226.82,"body":"first assistant, it almost"},{"speaker":"Average Joe Finances","startTime":2226.85,"endTime":2228.53,"body":"it changed my life honestly."},{"speaker":"Average Joe Finances","startTime":2228.53,"endTime":2232.66,"body":"I was able to, free up a lot of time"},{"speaker":"Average Joe Finances","startTime":2228.53,"endTime":2232.66,"body":"that I didn't realize how much time"},{"speaker":"Average Joe Finances","startTime":2232.665,"endTime":2235.51,"body":"I was wasting on certain things as"},{"speaker":"Average Joe Finances","startTime":2232.665,"endTime":2235.51,"body":"a solopreneur, like you were saying."},{"speaker":"Average Joe Finances","startTime":2235.51,"endTime":2237.384,"body":"So that's definitely fantastic advice."},{"speaker":"Average Joe Finances","startTime":2237.384,"endTime":2238.164,"body":"I appreciate that."},{"speaker":"Average Joe Finances","startTime":2238.674,"endTime":2242.484,"body":"All right, Brett, final question"},{"speaker":"Average Joe Finances","startTime":2238.674,"endTime":2242.484,"body":"of the final round, and that is,"},{"speaker":"Average Joe Finances","startTime":2242.664,"endTime":2244.434,"body":"do you have a favorite business?"},{"speaker":"Average Joe Finances","startTime":2245.049,"endTime":2249.039,"body":"Investing or real estate"},{"speaker":"Average Joe Finances","startTime":2245.049,"endTime":2249.039,"body":"related book or podcast or both?"},{"speaker":"Brett Swarts","startTime":2250.509,"endTime":2251.049,"body":"Yes."},{"speaker":"Brett Swarts","startTime":2251.159,"endTime":2254.819,"body":"Right now the favorite book"},{"speaker":"Brett Swarts","startTime":2251.159,"endTime":2254.819,"body":"and more so the masterclass"},{"speaker":"Brett Swarts","startTime":2254.819,"endTime":2257.579,"body":"on the book is by Chris Voss."},{"speaker":"Brett Swarts","startTime":2257.609,"endTime":2258.869,"body":"Never Split the Difference."},{"speaker":"Brett Swarts","startTime":2259.199,"endTime":2262.289,"body":"The masterclass is called The"},{"speaker":"Brett Swarts","startTime":2259.199,"endTime":2262.289,"body":"Power of Negotiation, I believe."},{"speaker":"Brett Swarts","startTime":2262.999,"endTime":2272.919,"body":"And by far it's so deep, so rich, and also"},{"speaker":"Brett Swarts","startTime":2262.999,"endTime":2272.919,"body":"so practical to everyday communication."},{"speaker":"Brett Swarts","startTime":2274.149,"endTime":2275.559,"body":"Everyday relationships."},{"speaker":"Brett Swarts","startTime":2276.099,"endTime":2284.379,"body":"So I've listened to that masterclass"},{"speaker":"Brett Swarts","startTime":2276.099,"endTime":2284.379,"body":"probably 30 times in the past four months."},{"speaker":"Brett Swarts","startTime":2285.269,"endTime":2287.519,"body":"Read the book the first time"},{"speaker":"Brett Swarts","startTime":2285.269,"endTime":2287.519,"body":"a couple years ago, listened"},{"speaker":"Brett Swarts","startTime":2287.519,"endTime":2288.719,"body":"to the audiobook again."},{"speaker":"Brett Swarts","startTime":2290.099,"endTime":2293.639,"body":"But watching it on video and seeing"},{"speaker":"Brett Swarts","startTime":2290.099,"endTime":2293.639,"body":"like the live masterclass, so I'd"},{"speaker":"Brett Swarts","startTime":2293.639,"endTime":2297.819,"body":"highly recommend going beyond just"},{"speaker":"Brett Swarts","startTime":2293.639,"endTime":2297.819,"body":"the book getting the masterclass."},{"speaker":"Brett Swarts","startTime":2297.819,"endTime":2298.689,"body":"It's like an app."},{"speaker":"Brett Swarts","startTime":2299.514,"endTime":2301.784,"body":"You can download, I think it's $170."},{"speaker":"Brett Swarts","startTime":2301.894,"endTime":2302.164,"body":"Literally."},{"speaker":"Brett Swarts","startTime":2302.184,"endTime":2303.504,"body":"It's the only masterclass I've watched."},{"speaker":"Brett Swarts","startTime":2303.564,"endTime":2305.094,"body":"Oh, there was the second"},{"speaker":"Brett Swarts","startTime":2303.564,"endTime":2305.094,"body":"one I watched on there."},{"speaker":"Brett Swarts","startTime":2305.454,"endTime":2306.264,"body":"It was Steph Curry."},{"speaker":"Brett Swarts","startTime":2306.264,"endTime":2309.024,"body":"I play basketball, so I watched"},{"speaker":"Brett Swarts","startTime":2306.264,"endTime":2309.024,"body":"the Steph Curry, which is good too."},{"speaker":"Brett Swarts","startTime":2309.334,"endTime":2314.254,"body":"But I just keep going back to that and"},{"speaker":"Brett Swarts","startTime":2309.334,"endTime":2314.254,"body":"I just try to apply those practices"},{"speaker":"Brett Swarts","startTime":2314.704,"endTime":2316.354,"body":"that he teaches that are masterful."},{"speaker":"Brett Swarts","startTime":2316.359,"endTime":2317.164,"body":"So check that one out."},{"speaker":"Average Joe Finances","startTime":2318.049,"endTime":2318.529,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2318.529,"endTime":2319.729,"body":"Definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":2319.769,"endTime":2321.179,"body":"Great recommendations, great book."},{"speaker":"Average Joe Finances","startTime":2321.179,"endTime":2322.379,"body":"So definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":2322.739,"endTime":2324.779,"body":"All right, Brett, that is"},{"speaker":"Average Joe Finances","startTime":2322.739,"endTime":2324.779,"body":"it for the final round."},{"speaker":"Average Joe Finances","startTime":2324.779,"endTime":2325.469,"body":"You survived."},{"speaker":"Average Joe Finances","startTime":2325.469,"endTime":2326.699,"body":"Pat yourself on the back."},{"speaker":"Average Joe Finances","startTime":2326.729,"endTime":2327.749,"body":"Wasn't that bad, right?"},{"speaker":"Average Joe Finances","startTime":2327.779,"endTime":2328.754,"body":"Told you it was good."},{"speaker":"Average Joe Finances","startTime":2329.264,"endTime":2332.654,"body":"Hey okay, so I do have one more question"},{"speaker":"Average Joe Finances","startTime":2329.264,"endTime":2332.654,"body":"for you though, because, and this"},{"speaker":"Average Joe Finances","startTime":2332.654,"endTime":2335.144,"body":"is the most important one of of all"},{"speaker":"Average Joe Finances","startTime":2332.654,"endTime":2335.144,"body":"because we're sitting here having this."},{"speaker":"Average Joe Finances","startTime":2335.469,"endTime":2336.549,"body":"Awesome conversation."},{"speaker":"Average Joe Finances","startTime":2336.909,"endTime":2340.839,"body":"I know I learned a lot about"},{"speaker":"Average Joe Finances","startTime":2336.909,"endTime":2340.839,"body":"the deferred sales trust, right?"},{"speaker":"Average Joe Finances","startTime":2341.259,"endTime":2345.999,"body":"And I know my listeners are like, Hey, we"},{"speaker":"Average Joe Finances","startTime":2341.259,"endTime":2345.999,"body":"also learned a lot and we wanna know more."},{"speaker":"Average Joe Finances","startTime":2346.419,"endTime":2350.529,"body":"So where can people find more information"},{"speaker":"Average Joe Finances","startTime":2346.419,"endTime":2350.529,"body":"about you or the deferred sales trust,"},{"speaker":"Average Joe Finances","startTime":2350.534,"endTime":2352.059,"body":"the service that your team provides."},{"speaker":"Average Joe Finances","startTime":2352.299,"endTime":2354.759,"body":"You have a website you could share with"},{"speaker":"Average Joe Finances","startTime":2352.299,"endTime":2354.759,"body":"us, any social media, anything like that."},{"speaker":"Brett Swarts","startTime":2355.499,"endTime":2358.479,"body":"Yeah, it all starts"},{"speaker":"Brett Swarts","startTime":2355.499,"endTime":2358.479,"body":"at capitalgainstaxsolutions.com."},{"speaker":"Brett Swarts","startTime":2358.679,"endTime":2362.399,"body":"And if you also search Capital Gains"},{"speaker":"Brett Swarts","startTime":2358.679,"endTime":2362.399,"body":"Tax Solutions on YouTube, iTunes,"},{"speaker":"Brett Swarts","startTime":2362.404,"endTime":2364.369,"body":"Spotify, you can find the podcast."},{"speaker":"Brett Swarts","startTime":2364.929,"endTime":2366.484,"body":"YouTube has a ton of playlist."},{"speaker":"Brett Swarts","startTime":2366.904,"endTime":2370.514,"body":"1031 Exchange versus the Deferred"},{"speaker":"Brett Swarts","startTime":2366.904,"endTime":2370.514,"body":"Sales Trust, the Delaware's Statutory"},{"speaker":"Brett Swarts","startTime":2370.534,"endTime":2374.739,"body":"trust versus the Deferred Sales Trust"},{"speaker":"Brett Swarts","startTime":2370.534,"endTime":2374.739,"body":"client deal stories, testimonials,"},{"speaker":"Brett Swarts","startTime":2375.009,"endTime":2376.959,"body":"the how to Breaking it all down."},{"speaker":"Brett Swarts","startTime":2376.959,"endTime":2377.889,"body":"It's all there."},{"speaker":"Brett Swarts","startTime":2378.159,"endTime":2381.129,"body":"Just go to my YouTube channel and then"},{"speaker":"Brett Swarts","startTime":2378.159,"endTime":2381.129,"body":"you can download our free Ebook by going"},{"speaker":"Brett Swarts","startTime":2381.129,"endTime":2383.199,"body":"to capital gains tax solutions.com."},{"speaker":"Brett Swarts","startTime":2383.649,"endTime":2387.894,"body":"We have a new book coming out in"},{"speaker":"Brett Swarts","startTime":2383.649,"endTime":2387.894,"body":"it's actually this is the pre-copy."},{"speaker":"Brett Swarts","startTime":2387.894,"endTime":2392.414,"body":"It's actually gonna be called Building"},{"speaker":"Brett Swarts","startTime":2387.894,"endTime":2392.414,"body":"a Capital Gains Tax Exit Plan."},{"speaker":"Brett Swarts","startTime":2392.414,"endTime":2394.544,"body":"We've changed it to make"},{"speaker":"Brett Swarts","startTime":2392.414,"endTime":2394.544,"body":"it a little more specific."},{"speaker":"Brett Swarts","startTime":2394.549,"endTime":2396.044,"body":"It's kinda a long title, but we have."},{"speaker":"Brett Swarts","startTime":2396.759,"endTime":2399.609,"body":"Kevin Harrington from Shark Tank"},{"speaker":"Brett Swarts","startTime":2396.759,"endTime":2399.609,"body":"in the book, which is really cool."},{"speaker":"Brett Swarts","startTime":2399.669,"endTime":2401.919,"body":"Mike, they said they get in room with"},{"speaker":"Brett Swarts","startTime":2399.669,"endTime":2401.919,"body":"people that are really smarter than you."},{"speaker":"Brett Swarts","startTime":2402.219,"endTime":2405.789,"body":"So I got in the book with Kevin and a few"},{"speaker":"Brett Swarts","startTime":2402.219,"endTime":2405.789,"body":"other really smart multifamily syndicates,"},{"speaker":"Brett Swarts","startTime":2405.789,"endTime":2407.109,"body":"financial advisors in the book."},{"speaker":"Brett Swarts","startTime":2407.469,"endTime":2411.219,"body":"And this whole book is really"},{"speaker":"Brett Swarts","startTime":2407.469,"endTime":2411.219,"body":"for you if you're looking to"},{"speaker":"Brett Swarts","startTime":2411.219,"endTime":2413.539,"body":"unlock your ideal wealth plan."},{"speaker":"Brett Swarts","startTime":2414.389,"endTime":2417.449,"body":"When selling assets of any kind"},{"speaker":"Brett Swarts","startTime":2414.389,"endTime":2417.449,"body":"for yourself or your clients."},{"speaker":"Brett Swarts","startTime":2417.719,"endTime":2421.319,"body":"Also my story to the DST, kinda"},{"speaker":"Brett Swarts","startTime":2417.719,"endTime":2421.319,"body":"like DST inner circle secrets."},{"speaker":"Brett Swarts","startTime":2421.649,"endTime":2423.059,"body":"A lot of great content."},{"speaker":"Brett Swarts","startTime":2423.059,"endTime":2424.799,"body":"We leave it all out in the"},{"speaker":"Brett Swarts","startTime":2423.059,"endTime":2424.799,"body":"book here, so you're gonna be"},{"speaker":"Brett Swarts","startTime":2424.799,"endTime":2425.819,"body":"excited to pick up one of those."},{"speaker":"Brett Swarts","startTime":2425.824,"endTime":2427.439,"body":"Come on Amazon in about 30 days."},{"speaker":"Brett Swarts","startTime":2427.879,"endTime":2430.254,"body":"And then the last thing I'll"},{"speaker":"Brett Swarts","startTime":2427.879,"endTime":2430.254,"body":"extend to is a consultation with"},{"speaker":"Brett Swarts","startTime":2430.254,"endTime":2431.275,"body":"myself for one of my team members."},{"speaker":"Brett Swarts","startTime":2431.484,"endTime":2435.714,"body":"If you are selling an asset of $1"},{"speaker":"Brett Swarts","startTime":2431.484,"endTime":2435.714,"body":"million of net proceeds or net game"},{"speaker":"Brett Swarts","startTime":2435.744,"endTime":2439.489,"body":"and net game then you qualify, anything"},{"speaker":"Brett Swarts","startTime":2435.744,"endTime":2439.489,"body":"smaller than that is too small,"},{"speaker":"Brett Swarts","startTime":2439.699,"endTime":2441.979,"body":"unless you have two at $500,000 each."},{"speaker":"Brett Swarts","startTime":2441.979,"endTime":2444.619,"body":"And then we can, then you can qualify"},{"speaker":"Brett Swarts","startTime":2441.979,"endTime":2444.619,"body":"and you can go to capital gains tax"},{"speaker":"Brett Swarts","startTime":2444.624,"endTime":2446.269,"body":"news.com to get that free consultation."},{"speaker":"Brett Swarts","startTime":2446.959,"endTime":2448.344,"body":"And that's all I have."},{"speaker":"Brett Swarts","startTime":2448.374,"endTime":2449.214,"body":"Those are the main places, Mike."},{"speaker":"Average Joe Finances","startTime":2449.664,"endTime":2450.054,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":2450.059,"endTime":2450.984,"body":"Thank you so much, Brett."},{"speaker":"Average Joe Finances","startTime":2450.984,"endTime":2451.874,"body":"This was amazing."},{"speaker":"Average Joe Finances","startTime":2452.574,"endTime":2453.914,"body":"I had a great time talking with you again."},{"speaker":"Average Joe Finances","startTime":2453.914,"endTime":2457.074,"body":"I learned so much and I greatly"},{"speaker":"Average Joe Finances","startTime":2453.914,"endTime":2457.074,"body":"appreciate you taking the time"},{"speaker":"Average Joe Finances","startTime":2457.434,"endTime":2458.574,"body":"to talk with me today, man."},{"speaker":"Average Joe Finances","startTime":2458.574,"endTime":2459.504,"body":"This was fantastic."},{"speaker":"Brett Swarts","startTime":2460.554,"endTime":2460.884,"body":"My pleasure."},{"speaker":"Brett Swarts","startTime":2460.884,"endTime":2461.304,"body":"Thanks for having me."},{"speaker":"Average Joe Finances","startTime":2461.574,"endTime":2462.144,"body":"Hey, awesome."},{"speaker":"Average Joe Finances","startTime":2462.144,"endTime":2464.724,"body":"And hey, to my listeners, thank"},{"speaker":"Average Joe Finances","startTime":2462.144,"endTime":2464.724,"body":"you so much for joining me and"},{"speaker":"Average Joe Finances","startTime":2464.724,"endTime":2468.534,"body":"our special guest, Brett Swarts on"},{"speaker":"Average Joe Finances","startTime":2464.724,"endTime":2468.534,"body":"the Average Joe Finances podcast."},{"speaker":"Average Joe Finances","startTime":2468.834,"endTime":2471.234,"body":"Go leave us a five star review"},{"speaker":"Average Joe Finances","startTime":2468.834,"endTime":2471.234,"body":"and tell us what you liked about"},{"speaker":"Average Joe Finances","startTime":2471.234,"endTime":2472.914,"body":"today's episode with Brett."},{"speaker":"Average Joe Finances","startTime":2473.214,"endTime":2475.764,"body":"Aloha from Hawaii and have"},{"speaker":"Average Joe Finances","startTime":2473.214,"endTime":2475.764,"body":"a great rest of your day."}]}