{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":2.4,"endTime":4.83,"body":"Hey, Welcome back"},{"speaker":"Average Joe Finances","startTime":2.4,"endTime":4.83,"body":"to the Average Joe Finances podcast."},{"speaker":"Average Joe Finances","startTime":4.83,"endTime":10.14,"body":"I'm your host Mike Cavaggioni, and"},{"speaker":"Average Joe Finances","startTime":4.83,"endTime":10.14,"body":"today's guest is Alex Olson so Alex, I"},{"speaker":"Average Joe Finances","startTime":10.145,"endTime":11.88,"body":"am super excited to talk to you today."},{"speaker":"Average Joe Finances","startTime":11.88,"endTime":13.56,"body":"Thank you so much for"},{"speaker":"Average Joe Finances","startTime":11.88,"endTime":13.56,"body":"joining me on the show."},{"speaker":"Alex Olsen","startTime":14.43,"endTime":15.21,"body":"Thanks for having me, man."},{"speaker":"Alex Olsen","startTime":15.21,"endTime":15.81,"body":"I appreciate it."},{"speaker":"Average Joe Finances","startTime":16.35,"endTime":17.07,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":17.07,"endTime":20.42,"body":"Hey, I wanna start this off the same"},{"speaker":"Average Joe Finances","startTime":17.07,"endTime":20.42,"body":"way I start every podcast episode,"},{"speaker":"Average Joe Finances","startTime":20.56,"endTime":22.26,"body":"and we wanna know more about you."},{"speaker":"Average Joe Finances","startTime":22.265,"endTime":26.1,"body":"So if you could share a little bit"},{"speaker":"Average Joe Finances","startTime":22.265,"endTime":26.1,"body":"about yourself, share your story."},{"speaker":"Average Joe Finances","startTime":26.105,"endTime":27.91,"body":"Who is Alex Olson?"},{"speaker":"Alex Olsen","startTime":29.22,"endTime":30.42,"body":"I appreciate that."},{"speaker":"Alex Olsen","startTime":30.5,"endTime":33.44,"body":"Yeah, so I could go back and"},{"speaker":"Alex Olsen","startTime":30.5,"endTime":33.44,"body":"do a bunch of crazy details."},{"speaker":"Alex Olsen","startTime":33.44,"endTime":35.75,"body":"I think obviously the reason why a"},{"speaker":"Alex Olsen","startTime":33.44,"endTime":35.75,"body":"lot of people are probably listening"},{"speaker":"Alex Olsen","startTime":35.75,"endTime":37.55,"body":"your show, entrepreneurship, right?"},{"speaker":"Alex Olsen","startTime":37.554,"endTime":39.559,"body":"I grew up, my dad was self-employed."},{"speaker":"Alex Olsen","startTime":40.05,"endTime":46.179,"body":"He was a farmer, actually a hog farmer"},{"speaker":"Alex Olsen","startTime":40.05,"endTime":46.179,"body":"and a commercial row crop farmer."},{"speaker":"Alex Olsen","startTime":46.179,"endTime":52.44,"body":"And so with that he was working for"},{"speaker":"Alex Olsen","startTime":46.179,"endTime":52.44,"body":"himself his whole life, and I didn't,"},{"speaker":"Alex Olsen","startTime":52.44,"endTime":55.62,"body":"when I first graduated college, I"},{"speaker":"Alex Olsen","startTime":52.44,"endTime":55.62,"body":"went into and went into the corporate"},{"speaker":"Alex Olsen","startTime":55.62,"endTime":59.97,"body":"world and had a job there for about"},{"speaker":"Alex Olsen","startTime":55.62,"endTime":59.97,"body":"15 years, but I was always looking"},{"speaker":"Alex Olsen","startTime":59.97,"endTime":63.44,"body":"for something different, something"},{"speaker":"Alex Olsen","startTime":59.97,"endTime":63.44,"body":"that I could feel more accomplished"},{"speaker":"Alex Olsen","startTime":63.44,"endTime":64.879,"body":"with, number one and number two."},{"speaker":"Alex Olsen","startTime":66.025,"endTime":69.355,"body":"Make a lot more money or at least"},{"speaker":"Alex Olsen","startTime":66.025,"endTime":69.355,"body":"have the opportunity to make a lot"},{"speaker":"Alex Olsen","startTime":69.355,"endTime":71.66,"body":"more money than a 9 to five job."},{"speaker":"Alex Olsen","startTime":72.29,"endTime":74.89,"body":"And we ended up building our dream house."},{"speaker":"Alex Olsen","startTime":76.06,"endTime":78.31,"body":"Before I had left the corporate world."},{"speaker":"Alex Olsen","startTime":78.31,"endTime":84.08,"body":"And how that really worked was I'd"},{"speaker":"Alex Olsen","startTime":78.31,"endTime":84.08,"body":"saved up every single bonus I got,"},{"speaker":"Alex Olsen","startTime":84.08,"endTime":86.48,"body":"every single extra cash we had."},{"speaker":"Alex Olsen","startTime":86.48,"endTime":90.45,"body":"I saved all of that knowing"},{"speaker":"Alex Olsen","startTime":86.48,"endTime":90.45,"body":"that hey, look, I had a dream of"},{"speaker":"Alex Olsen","startTime":90.45,"endTime":93.6,"body":"building a decently nice house"},{"speaker":"Alex Olsen","startTime":90.45,"endTime":93.6,"body":"that was customized to our needs."},{"speaker":"Alex Olsen","startTime":93.6,"endTime":95.34,"body":"So we built a dream house on the lake."},{"speaker":"Alex Olsen","startTime":95.97,"endTime":98.46,"body":"And with that, we, I learned"},{"speaker":"Alex Olsen","startTime":95.97,"endTime":98.46,"body":"a lot through the process."},{"speaker":"Alex Olsen","startTime":98.46,"endTime":102.34,"body":"I learned about financing, it's not"},{"speaker":"Alex Olsen","startTime":98.46,"endTime":102.34,"body":"just like I'm going out buying a house."},{"speaker":"Alex Olsen","startTime":102.34,"endTime":104.11,"body":"It was more like I was going out."},{"speaker":"Alex Olsen","startTime":104.11,"endTime":108.58,"body":"I had to get a construction loan, had"},{"speaker":"Alex Olsen","startTime":104.11,"endTime":108.58,"body":"to learn how banks work, had to meet"},{"speaker":"Alex Olsen","startTime":108.585,"endTime":112.43,"body":"contractors, had to learn all of the"},{"speaker":"Alex Olsen","startTime":108.585,"endTime":112.43,"body":"ins and outs of building a house."},{"speaker":"Alex Olsen","startTime":113.09,"endTime":116.57,"body":"And at the end of the day turns"},{"speaker":"Alex Olsen","startTime":113.09,"endTime":116.57,"body":"out we'd done a really good job of"},{"speaker":"Alex Olsen","startTime":116.57,"endTime":118.58,"body":"building our house on and under budget."},{"speaker":"Alex Olsen","startTime":119.105,"endTime":123.845,"body":"And we had a bunch of equity already"},{"speaker":"Alex Olsen","startTime":119.105,"endTime":123.845,"body":"built up because we'd done a good"},{"speaker":"Alex Olsen","startTime":123.845,"endTime":128.355,"body":"job of buying the vacant land at a"},{"speaker":"Alex Olsen","startTime":123.845,"endTime":128.355,"body":"certain price and done a good job of"},{"speaker":"Alex Olsen","startTime":128.36,"endTime":130.065,"body":"building the house at a certain price."},{"speaker":"Alex Olsen","startTime":130.065,"endTime":134.615,"body":"We had a lot of equity in that,"},{"speaker":"Alex Olsen","startTime":130.065,"endTime":134.615,"body":"and so afterwards, I was like,"},{"speaker":"Alex Olsen","startTime":134.615,"endTime":137.435,"body":"man, we've always, I've always"},{"speaker":"Alex Olsen","startTime":134.615,"endTime":137.435,"body":"wanted to do real estate investing."},{"speaker":"Alex Olsen","startTime":137.955,"endTime":138.855,"body":"My dad was a farmer."},{"speaker":"Alex Olsen","startTime":138.855,"endTime":143.115,"body":"He owned a lot of his own farmland,"},{"speaker":"Alex Olsen","startTime":138.855,"endTime":143.115,"body":"so there was some kind of tie to"},{"speaker":"Alex Olsen","startTime":143.12,"endTime":145.875,"body":"that where he knew how to go out"},{"speaker":"Alex Olsen","startTime":143.12,"endTime":145.875,"body":"and get a bank loan, but he didn't"},{"speaker":"Alex Olsen","startTime":145.88,"endTime":147.375,"body":"have any idea on real estate."},{"speaker":"Alex Olsen","startTime":147.405,"endTime":149.635,"body":"He actually shied away from real estate."},{"speaker":"Alex Olsen","startTime":150.025,"endTime":152.96,"body":"And so I was like, okay,"},{"speaker":"Alex Olsen","startTime":150.025,"endTime":152.96,"body":"how can I make this happen?"},{"speaker":"Alex Olsen","startTime":152.96,"endTime":154.7,"body":"So I went out and got a"},{"speaker":"Alex Olsen","startTime":152.96,"endTime":154.7,"body":"home equity line of credit."},{"speaker":"Alex Olsen","startTime":155.155,"endTime":156.625,"body":"I bought a five plex."},{"speaker":"Alex Olsen","startTime":156.655,"endTime":157.975,"body":"I bought a duplex."},{"speaker":"Alex Olsen","startTime":158.335,"endTime":162.535,"body":"I bought four single family homes with"},{"speaker":"Alex Olsen","startTime":158.335,"endTime":162.535,"body":"a dream of, oh my gosh, I'm gonna turn"},{"speaker":"Alex Olsen","startTime":162.535,"endTime":167.105,"body":"all these into mega millionaire Airbnbs"},{"speaker":"Alex Olsen","startTime":162.535,"endTime":167.105,"body":"here in the urban core of Kansas City."},{"speaker":"Alex Olsen","startTime":167.885,"endTime":174.215,"body":"And then the pandemic hit and my Airbnbs"},{"speaker":"Alex Olsen","startTime":167.885,"endTime":174.215,"body":"went to crap which I understand why."},{"speaker":"Alex Olsen","startTime":174.815,"endTime":179.375,"body":"And I lost my job, which was actually"},{"speaker":"Alex Olsen","startTime":174.815,"endTime":179.375,"body":"a blessing cuz before that, right"},{"speaker":"Alex Olsen","startTime":179.375,"endTime":184.195,"body":"before that, about six months before"},{"speaker":"Alex Olsen","startTime":179.375,"endTime":184.195,"body":"I lost my job, I decided to go out"},{"speaker":"Alex Olsen","startTime":184.195,"endTime":185.255,"body":"and get my real estate license."},{"speaker":"Alex Olsen","startTime":185.735,"endTime":187.705,"body":"I fell in love with buying properties."},{"speaker":"Alex Olsen","startTime":188.175,"endTime":192.864,"body":"Not just the financial aspect of it,"},{"speaker":"Alex Olsen","startTime":188.175,"endTime":192.864,"body":"but just the negotiating, pretending"},{"speaker":"Alex Olsen","startTime":192.869,"endTime":196.954,"body":"to be an attorney, as you're"},{"speaker":"Alex Olsen","startTime":192.869,"endTime":196.954,"body":"negotiating on contracts meeting new"},{"speaker":"Alex Olsen","startTime":196.954,"endTime":200.074,"body":"people, buying in amazing locations."},{"speaker":"Alex Olsen","startTime":200.554,"endTime":204.154,"body":"So I was lucky enough to have my"},{"speaker":"Alex Olsen","startTime":200.554,"endTime":204.154,"body":"real estate license got fired."},{"speaker":"Alex Olsen","startTime":204.454,"endTime":208.854,"body":"Then I went into and went into a"},{"speaker":"Alex Olsen","startTime":204.454,"endTime":208.854,"body":"brokerage firm where I met Logan Freeman."},{"speaker":"Alex Olsen","startTime":208.854,"endTime":213.114,"body":"I dunno if you know him, but he's a"},{"speaker":"Alex Olsen","startTime":208.854,"endTime":213.114,"body":"big capital razor in the real estate"},{"speaker":"Alex Olsen","startTime":213.114,"endTime":217.524,"body":"space and he and I had a passion"},{"speaker":"Alex Olsen","startTime":213.114,"endTime":217.524,"body":"for working with buyers in Kansas"},{"speaker":"Alex Olsen","startTime":217.524,"endTime":222.744,"body":"City, and we found out there's a lot"},{"speaker":"Alex Olsen","startTime":217.524,"endTime":222.744,"body":"of people that are on 1031 exchange"},{"speaker":"Alex Olsen","startTime":222.744,"endTime":224.754,"body":"deadlines, which is part of real estate."},{"speaker":"Alex Olsen","startTime":225.229,"endTime":227.39,"body":"And allows people to"},{"speaker":"Alex Olsen","startTime":225.229,"endTime":227.39,"body":"really grow their wealth."},{"speaker":"Alex Olsen","startTime":227.39,"endTime":231.709,"body":"And so with that, we created this"},{"speaker":"Alex Olsen","startTime":227.39,"endTime":231.709,"body":"niche of helping people that are in"},{"speaker":"Alex Olsen","startTime":231.709,"endTime":238.969,"body":"this 1031 exchange, bind deadline,"},{"speaker":"Alex Olsen","startTime":231.709,"endTime":238.969,"body":"and finding them and getting them"},{"speaker":"Alex Olsen","startTime":239.029,"endTime":243.16,"body":"over the hump of the fears of, man, it"},{"speaker":"Alex Olsen","startTime":239.029,"endTime":243.16,"body":"takes a long time to close these out."},{"speaker":"Alex Olsen","startTime":243.16,"endTime":244.209,"body":"I don't know what to buy."},{"speaker":"Alex Olsen","startTime":244.209,"endTime":245.199,"body":"I need cash flow."},{"speaker":"Alex Olsen","startTime":245.199,"endTime":246.369,"body":"I need X, Y, and Z."},{"speaker":"Alex Olsen","startTime":246.79,"endTime":248.499,"body":"And so we help them in that process."},{"speaker":"Alex Olsen","startTime":249.34,"endTime":252.759,"body":"And so that's really what we focus on now"},{"speaker":"Alex Olsen","startTime":249.34,"endTime":252.759,"body":"as a real estate brokerage firm in Kansas"},{"speaker":"Alex Olsen","startTime":252.759,"endTime":258.289,"body":"City, is helping people grow their wealth,"},{"speaker":"Alex Olsen","startTime":252.759,"endTime":258.289,"body":"whether it through a 1031 exchange or not."},{"speaker":"Alex Olsen","startTime":258.86,"endTime":262.419,"body":"But how can you go from one unit"},{"speaker":"Alex Olsen","startTime":258.86,"endTime":262.419,"body":"or two units, or eight units to"},{"speaker":"Alex Olsen","startTime":262.75,"endTime":264.76,"body":"10, to 16 to 20 to a hundred?"},{"speaker":"Alex Olsen","startTime":264.76,"endTime":266.319,"body":"And that's really what we focus on now."},{"speaker":"Average Joe Finances","startTime":267.86,"endTime":268.64,"body":"Awesome, Alex."},{"speaker":"Average Joe Finances","startTime":268.64,"endTime":270.229,"body":"That's that's some background, man."},{"speaker":"Average Joe Finances","startTime":270.28,"endTime":272.59,"body":"And what a way to, to get"},{"speaker":"Average Joe Finances","startTime":270.28,"endTime":272.59,"body":"into real estate, right?"},{"speaker":"Average Joe Finances","startTime":272.59,"endTime":273.719,"body":"It was almost like, you."},{"speaker":"Average Joe Finances","startTime":274.079,"endTime":277.619,"body":"You already knew you enjoyed it,"},{"speaker":"Average Joe Finances","startTime":274.079,"endTime":277.619,"body":"but then your hand was forced right."},{"speaker":"Average Joe Finances","startTime":277.619,"endTime":278.64,"body":"When the pandemic hit."},{"speaker":"Average Joe Finances","startTime":278.64,"endTime":281.68,"body":"What I find interesting though"},{"speaker":"Average Joe Finances","startTime":278.64,"endTime":281.68,"body":"is, you started to realize the"},{"speaker":"Average Joe Finances","startTime":281.685,"endTime":284.47,"body":"power of real estate when you were"},{"speaker":"Average Joe Finances","startTime":281.685,"endTime":284.47,"body":"building your own home, right?"},{"speaker":"Average Joe Finances","startTime":284.8,"endTime":287.41,"body":"Got the land, had the"},{"speaker":"Average Joe Finances","startTime":284.8,"endTime":287.41,"body":"home developed and built."},{"speaker":"Average Joe Finances","startTime":287.83,"endTime":290.95,"body":"And then once everything was set and done,"},{"speaker":"Average Joe Finances","startTime":287.83,"endTime":290.95,"body":"you realized how much equity you had."},{"speaker":"Average Joe Finances","startTime":291.31,"endTime":293.07,"body":"And it's whoa, hang on a second here."},{"speaker":"Average Joe Finances","startTime":293.12,"endTime":294.08,"body":"There's something here."},{"speaker":"Average Joe Finances","startTime":294.38,"endTime":297.33,"body":"And that's to me, I, that's what"},{"speaker":"Average Joe Finances","startTime":294.38,"endTime":297.33,"body":"it sounds like pushed you towards"},{"speaker":"Average Joe Finances","startTime":297.72,"endTime":301.09,"body":"wanting to invest in real estate"},{"speaker":"Average Joe Finances","startTime":297.72,"endTime":301.09,"body":"and look at that further down."},{"speaker":"Average Joe Finances","startTime":301.45,"endTime":302.71,"body":"So that's pretty awesome, man."},{"speaker":"Average Joe Finances","startTime":302.71,"endTime":308.92,"body":"Now, is there a particular reason why"},{"speaker":"Average Joe Finances","startTime":302.71,"endTime":308.92,"body":"you choose Kansas City as your market,"},{"speaker":"Average Joe Finances","startTime":308.92,"endTime":310.33,"body":"or is that just, is that where you live?"},{"speaker":"Alex Olsen","startTime":311.125,"endTime":312.775,"body":"Yeah, so I was blessed."},{"speaker":"Alex Olsen","startTime":312.805,"endTime":316.525,"body":"Come to find out, I had no idea"},{"speaker":"Alex Olsen","startTime":312.805,"endTime":316.525,"body":"really, but blessed that Kansas"},{"speaker":"Alex Olsen","startTime":316.525,"endTime":319.7,"body":"City's a pretty good cash flowing"},{"speaker":"Alex Olsen","startTime":316.525,"endTime":319.7,"body":"market and pretty popular with"},{"speaker":"Alex Olsen","startTime":319.75,"endTime":322.175,"body":"investors from that perspective."},{"speaker":"Alex Olsen","startTime":322.175,"endTime":323.105,"body":"And it's a growing city."},{"speaker":"Alex Olsen","startTime":323.105,"endTime":324.546,"body":"I actually moved down here."},{"speaker":"Alex Olsen","startTime":325.49,"endTime":329.39,"body":"I'm from Nebraska originally, and"},{"speaker":"Alex Olsen","startTime":325.49,"endTime":329.39,"body":"I moved to Kansas City because I"},{"speaker":"Alex Olsen","startTime":329.39,"endTime":333.05,"body":"wanted a bigger city and something"},{"speaker":"Alex Olsen","startTime":329.39,"endTime":333.05,"body":"that seemed more progressive."},{"speaker":"Alex Olsen","startTime":333.05,"endTime":338.4,"body":"This was right around, when I moved down"},{"speaker":"Alex Olsen","startTime":333.05,"endTime":338.4,"body":"here was 15, 16, 17 years ago, right"},{"speaker":"Alex Olsen","startTime":338.4,"endTime":344.775,"body":"around the urban core revitalization of a"},{"speaker":"Alex Olsen","startTime":338.4,"endTime":344.775,"body":"lot of these Midwestern towns decent sized"},{"speaker":"Alex Olsen","startTime":344.775,"endTime":347.165,"body":"cities and Kansas City had a lot going on."},{"speaker":"Alex Olsen","startTime":347.165,"endTime":349.505,"body":"They were building what was"},{"speaker":"Alex Olsen","startTime":347.165,"endTime":349.505,"body":"then called the Sprint Center."},{"speaker":"Alex Olsen","startTime":349.965,"endTime":352.94,"body":"And oh my gosh, we're gonna try and"},{"speaker":"Alex Olsen","startTime":349.965,"endTime":352.94,"body":"get an MBA team, and oh my gosh, we're"},{"speaker":"Alex Olsen","startTime":352.94,"endTime":354.2,"body":"gonna do all these other great things."},{"speaker":"Alex Olsen","startTime":354.71,"endTime":358.97,"body":"And so that really drew me to one of the"},{"speaker":"Alex Olsen","startTime":354.71,"endTime":358.97,"body":"reasons why it drew me to Kansas City."},{"speaker":"Alex Olsen","startTime":359.4,"endTime":362.04,"body":"And yeah, it just turns out it"},{"speaker":"Alex Olsen","startTime":359.4,"endTime":362.04,"body":"was a great cash flowing market."},{"speaker":"Average Joe Finances","startTime":363.0,"endTime":363.45,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":363.45,"endTime":363.84,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":363.84,"endTime":364.41,"body":"So what."},{"speaker":"Average Joe Finances","startTime":364.845,"endTime":370.995,"body":"What made you like really start looking"},{"speaker":"Average Joe Finances","startTime":364.845,"endTime":370.995,"body":"into and get into 1031 exchanges?"},{"speaker":"Average Joe Finances","startTime":370.995,"endTime":374.665,"body":"Wasn't a personal experience you"},{"speaker":"Average Joe Finances","startTime":370.995,"endTime":374.665,"body":"had doing your first one or what"},{"speaker":"Average Joe Finances","startTime":374.67,"endTime":375.985,"body":"was it that attracted you to that?"},{"speaker":"Alex Olsen","startTime":377.305,"endTime":385.06,"body":"It was that a 1031 exchange"},{"speaker":"Alex Olsen","startTime":377.305,"endTime":385.06,"body":"buyer was really under serviced and,"},{"speaker":"Alex Olsen","startTime":385.11,"endTime":390.27,"body":"I stumbled into that because one, my"},{"speaker":"Alex Olsen","startTime":385.11,"endTime":390.27,"body":"mentor, Logan Freeman, he was working"},{"speaker":"Alex Olsen","startTime":390.27,"endTime":396.655,"body":"with these folks and they have, if you're"},{"speaker":"Alex Olsen","startTime":390.27,"endTime":396.655,"body":"on a 1031 exchange deadline, You have"},{"speaker":"Alex Olsen","startTime":396.655,"endTime":401.035,"body":"a lot of money that you either have"},{"speaker":"Alex Olsen","startTime":396.655,"endTime":401.035,"body":"to buy a new property with or you're"},{"speaker":"Alex Olsen","startTime":401.035,"endTime":403.225,"body":"gonna take the tax consequence of that."},{"speaker":"Alex Olsen","startTime":403.225,"endTime":406.195,"body":"And most people don't want"},{"speaker":"Alex Olsen","startTime":403.225,"endTime":406.195,"body":"to take that tax consequence."},{"speaker":"Alex Olsen","startTime":406.735,"endTime":409.625,"body":"So I looked at that as an"},{"speaker":"Alex Olsen","startTime":406.735,"endTime":409.625,"body":"opportunity that, you've got"},{"speaker":"Alex Olsen","startTime":409.625,"endTime":411.905,"body":"a buyer that is needs to buy."},{"speaker":"Alex Olsen","startTime":412.395,"endTime":416.325,"body":"And I have at least what I feel"},{"speaker":"Alex Olsen","startTime":412.395,"endTime":416.325,"body":"like is an expertise in knowing"},{"speaker":"Alex Olsen","startTime":416.335,"endTime":418.165,"body":"and helping them buy something."},{"speaker":"Alex Olsen","startTime":419.01,"endTime":421.23,"body":"Because I bought real"},{"speaker":"Alex Olsen","startTime":419.01,"endTime":421.23,"body":"estate before on my own."},{"speaker":"Alex Olsen","startTime":421.7,"endTime":427.71,"body":"And just knowing the area, and I also"},{"speaker":"Alex Olsen","startTime":421.7,"endTime":427.71,"body":"have a background in finance, and so"},{"speaker":"Alex Olsen","startTime":428.04,"endTime":432.76,"body":"those kind of things like, man, this"},{"speaker":"Alex Olsen","startTime":428.04,"endTime":432.76,"body":"is like a perfect fit for me because"},{"speaker":"Alex Olsen","startTime":433.875,"endTime":437.795,"body":"these people are on a deadline and,"},{"speaker":"Alex Olsen","startTime":433.875,"endTime":437.795,"body":"they have to identify three properties"},{"speaker":"Alex Olsen","startTime":437.795,"endTime":439.145,"body":"within a certain amount of time."},{"speaker":"Alex Olsen","startTime":440.055,"endTime":443.15,"body":"I don't have a problem, cold calling"},{"speaker":"Alex Olsen","startTime":440.055,"endTime":443.15,"body":"and finding sellers and owners and"},{"speaker":"Alex Olsen","startTime":443.15,"endTime":446.74,"body":"that kind of thing and, working with"},{"speaker":"Alex Olsen","startTime":443.15,"endTime":446.74,"body":"property managers and getting it all"},{"speaker":"Alex Olsen","startTime":446.74,"endTime":452.265,"body":"lined up that it seemed like it was"},{"speaker":"Alex Olsen","startTime":446.74,"endTime":452.265,"body":"going to be a good fit from a a real"},{"speaker":"Alex Olsen","startTime":452.265,"endTime":454.335,"body":"estate brokerage standpoint as well."},{"speaker":"Average Joe Finances","startTime":455.26,"endTime":458.75,"body":"Yeah, so definitely"},{"speaker":"Average Joe Finances","startTime":455.26,"endTime":458.75,"body":"saw like a need in the market and"},{"speaker":"Average Joe Finances","startTime":458.75,"endTime":460.34,"body":"just started attacking it, right?"},{"speaker":"Average Joe Finances","startTime":460.34,"endTime":462.86,"body":"So I mean that, I think that's"},{"speaker":"Average Joe Finances","startTime":460.34,"endTime":462.86,"body":"one of the things that all"},{"speaker":"Average Joe Finances","startTime":462.86,"endTime":464.36,"body":"successful entrepreneurs do, right?"},{"speaker":"Average Joe Finances","startTime":464.36,"endTime":466.97,"body":"Is like you, you find"},{"speaker":"Average Joe Finances","startTime":464.36,"endTime":466.97,"body":"out what the problem is."},{"speaker":"Average Joe Finances","startTime":467.52,"endTime":469.65,"body":"And then you offer a"},{"speaker":"Average Joe Finances","startTime":467.52,"endTime":469.65,"body":"solution to that problem."},{"speaker":"Average Joe Finances","startTime":469.65,"endTime":473.939,"body":"It's not so much the, oh, hey, I"},{"speaker":"Average Joe Finances","startTime":469.65,"endTime":473.939,"body":"just wanna do 1031 s because they're"},{"speaker":"Average Joe Finances","startTime":473.939,"endTime":475.62,"body":"cool and can save a lot of money."},{"speaker":"Average Joe Finances","startTime":475.625,"endTime":477.84,"body":"So no, that's great."},{"speaker":"Average Joe Finances","startTime":477.929,"endTime":479.699,"body":"But I'm doing 1031 exchange."},{"speaker":"Average Joe Finances","startTime":479.704,"endTime":484.53,"body":"I'm helping you find properties for"},{"speaker":"Average Joe Finances","startTime":479.704,"endTime":484.53,"body":"your 1031 exchange because of the"},{"speaker":"Average Joe Finances","startTime":484.53,"endTime":485.809,"body":"actual benefits that you get from it."},{"speaker":"Average Joe Finances","startTime":485.87,"endTime":488.53,"body":"And a lot of people aren't"},{"speaker":"Average Joe Finances","startTime":485.87,"endTime":488.53,"body":"educated on that and they don't"},{"speaker":"Average Joe Finances","startTime":488.53,"endTime":493.05,"body":"get to truly understand, what they"},{"speaker":"Average Joe Finances","startTime":488.53,"endTime":493.05,"body":"will save with that tax burden."},{"speaker":"Average Joe Finances","startTime":493.05,"endTime":496.23,"body":"And I think part of the problem is,"},{"speaker":"Average Joe Finances","startTime":493.05,"endTime":496.23,"body":"like I said, is that education piece."},{"speaker":"Average Joe Finances","startTime":496.23,"endTime":500.06,"body":"Like a lot of people just don't know,"},{"speaker":"Average Joe Finances","startTime":496.23,"endTime":500.06,"body":"and they're like, Hey, I'm selling"},{"speaker":"Average Joe Finances","startTime":500.06,"endTime":502.43,"body":"one of my investment properties and"},{"speaker":"Average Joe Finances","startTime":500.06,"endTime":502.43,"body":"wanting to get into something bigger,"},{"speaker":"Average Joe Finances","startTime":502.88,"endTime":507.59,"body":"and they wind up paying all these taxes"},{"speaker":"Average Joe Finances","startTime":502.88,"endTime":507.59,"body":"on that first property that they sold."},{"speaker":"Average Joe Finances","startTime":507.59,"endTime":511.07,"body":"And now it's I can't buy the property"},{"speaker":"Average Joe Finances","startTime":507.59,"endTime":511.07,"body":"the bigger property I wanted because,"},{"speaker":"Average Joe Finances","startTime":511.41,"endTime":512.79,"body":"uncle Sam took a third of it."},{"speaker":"Average Joe Finances","startTime":512.83,"endTime":516.195,"body":"So that that's another key thing there"},{"speaker":"Average Joe Finances","startTime":512.83,"endTime":516.195,"body":"is hey, you can get into something"},{"speaker":"Average Joe Finances","startTime":516.195,"endTime":519.855,"body":"bigger and better now because"},{"speaker":"Average Joe Finances","startTime":516.195,"endTime":519.855,"body":"you're not giving up this large"},{"speaker":"Average Joe Finances","startTime":519.855,"endTime":522.075,"body":"chunk of your real estate profits."},{"speaker":"Alex Olsen","startTime":522.155,"endTime":523.36,"body":"Yeah, that's a big thing."},{"speaker":"Alex Olsen","startTime":523.42,"endTime":526.39,"body":"You already touched on it a"},{"speaker":"Alex Olsen","startTime":523.42,"endTime":526.39,"body":"lot, but yeah, people, obviously"},{"speaker":"Alex Olsen","startTime":526.39,"endTime":527.41,"body":"they don't do it all the time."},{"speaker":"Alex Olsen","startTime":527.51,"endTime":530.24,"body":"If a lot of people, some people don't"},{"speaker":"Alex Olsen","startTime":527.51,"endTime":530.24,"body":"get me wrong, some people might only"},{"speaker":"Alex Olsen","startTime":530.245,"endTime":535.445,"body":"do it once, maybe twice in a lifetime,"},{"speaker":"Alex Olsen","startTime":530.245,"endTime":535.445,"body":"and it, it seems daunting, it seems."},{"speaker":"Alex Olsen","startTime":535.745,"endTime":539.675,"body":"And then you also don't know,"},{"speaker":"Alex Olsen","startTime":535.745,"endTime":539.675,"body":"you're assuming I only pay taxes"},{"speaker":"Alex Olsen","startTime":539.675,"endTime":541.025,"body":"on a certain percent, right?"},{"speaker":"Alex Olsen","startTime":541.025,"endTime":542.945,"body":"It's only 20% on the profit I make."},{"speaker":"Alex Olsen","startTime":542.995,"endTime":546.96,"body":"It's a lot more than that because the"},{"speaker":"Alex Olsen","startTime":542.995,"endTime":546.96,"body":"profit people don't understand or forget."},{"speaker":"Alex Olsen","startTime":547.47,"endTime":552.55,"body":"The depreciation is a"},{"speaker":"Alex Olsen","startTime":547.47,"endTime":552.55,"body":"big part of the process."},{"speaker":"Alex Olsen","startTime":552.61,"endTime":558.04,"body":"And when you sell and you elect not to"},{"speaker":"Alex Olsen","startTime":552.61,"endTime":558.04,"body":"do a 1031 exchange, you have to recapture"},{"speaker":"Alex Olsen","startTime":558.04,"endTime":563.261,"body":"all of that depreciation which can"},{"speaker":"Alex Olsen","startTime":558.04,"endTime":563.261,"body":"be, 50% of the equity that you have in"},{"speaker":"Alex Olsen","startTime":563.38,"endTime":567.665,"body":"there and you've got to plan for that."},{"speaker":"Alex Olsen","startTime":567.665,"endTime":570.755,"body":"And, why pay the taxes now"},{"speaker":"Alex Olsen","startTime":567.665,"endTime":570.755,"body":"when you can defer 'em?"},{"speaker":"Alex Olsen","startTime":570.755,"endTime":574.415,"body":"That, it's all case by case basis,"},{"speaker":"Alex Olsen","startTime":570.755,"endTime":574.415,"body":"but why pay taxes now when you"},{"speaker":"Alex Olsen","startTime":574.42,"endTime":577.955,"body":"can defer 'em and continue to"},{"speaker":"Alex Olsen","startTime":574.42,"endTime":577.955,"body":"get all those same tax benefits?"},{"speaker":"Average Joe Finances","startTime":578.465,"endTime":579.575,"body":"Yep, a hundred percent."},{"speaker":"Average Joe Finances","startTime":579.815,"endTime":580.155,"body":"A hundred percent."},{"speaker":"Average Joe Finances","startTime":581.135,"endTime":584.965,"body":"All right, Alex, so now with you know"},{"speaker":"Average Joe Finances","startTime":581.135,"endTime":584.965,"body":"what you've built right now, what are"},{"speaker":"Average Joe Finances","startTime":584.965,"endTime":587.155,"body":"some of the services that you offer?"},{"speaker":"Alex Olsen","startTime":588.385,"endTime":593.475,"body":"So our core services"},{"speaker":"Alex Olsen","startTime":588.385,"endTime":593.475,"body":"is helping just like a traditional"},{"speaker":"Alex Olsen","startTime":593.475,"endTime":595.155,"body":"commercial real estate brokerage."},{"speaker":"Alex Olsen","startTime":595.515,"endTime":599.055,"body":"So we will source, but our"},{"speaker":"Alex Olsen","startTime":595.515,"endTime":599.055,"body":"focus is on working with buyers."},{"speaker":"Alex Olsen","startTime":599.055,"endTime":602.442,"body":"If you go out to a larger firm,"},{"speaker":"Alex Olsen","startTime":599.055,"endTime":602.442,"body":"typically in the one to $10"},{"speaker":"Alex Olsen","startTime":602.442,"endTime":606.295,"body":"million space, those brokers are"},{"speaker":"Alex Olsen","startTime":602.442,"endTime":606.295,"body":"all after trying to get listings."},{"speaker":"Alex Olsen","startTime":606.695,"endTime":610.805,"body":"We definitely will do listings, but"},{"speaker":"Alex Olsen","startTime":606.695,"endTime":610.805,"body":"our main focus is working on buyers."},{"speaker":"Alex Olsen","startTime":611.03,"endTime":614.81,"body":"Trying to find what they"},{"speaker":"Alex Olsen","startTime":611.03,"endTime":614.81,"body":"need in the marketplace."},{"speaker":"Alex Olsen","startTime":615.16,"endTime":617.83,"body":"Now the reason why a lot of other"},{"speaker":"Alex Olsen","startTime":615.16,"endTime":617.83,"body":"brokerage firms don't work with"},{"speaker":"Alex Olsen","startTime":617.83,"endTime":623.21,"body":"buyers in multi-family space of this"},{"speaker":"Alex Olsen","startTime":617.83,"endTime":623.21,"body":"size is because, the classic saying"},{"speaker":"Alex Olsen","startTime":623.215,"endTime":624.83,"body":"in our world is buyers are liars."},{"speaker":"Alex Olsen","startTime":625.11,"endTime":628.645,"body":"There's a hundred thousand buyers"},{"speaker":"Alex Olsen","startTime":625.11,"endTime":628.645,"body":"out there and they all want to buy."},{"speaker":"Alex Olsen","startTime":628.645,"endTime":633.175,"body":"It's up to us as a broker to really"},{"speaker":"Alex Olsen","startTime":628.645,"endTime":633.175,"body":"decide where we're gonna spend our time."},{"speaker":"Alex Olsen","startTime":633.385,"endTime":636.56,"body":"Because if everybody wants to buy,"},{"speaker":"Alex Olsen","startTime":633.385,"endTime":636.56,"body":"there's not enough time to work with"},{"speaker":"Alex Olsen","startTime":636.56,"endTime":639.86,"body":"everybody, so you gotta find the"},{"speaker":"Alex Olsen","startTime":636.56,"endTime":639.86,"body":"ones that are truly active in buying."},{"speaker":"Alex Olsen","startTime":639.86,"endTime":645.78,"body":"So we take a very white glove service to"},{"speaker":"Alex Olsen","startTime":639.86,"endTime":645.78,"body":"it where we have an off-market marketplace"},{"speaker":"Alex Olsen","startTime":645.785,"endTime":647.7,"body":"where all of our off-market deals are on."},{"speaker":"Alex Olsen","startTime":647.7,"endTime":651.755,"body":"Sounds weird, but all of our off-market"},{"speaker":"Alex Olsen","startTime":647.7,"endTime":651.755,"body":"deals are on this marketplace."},{"speaker":"Alex Olsen","startTime":651.965,"endTime":655.655,"body":"You can go on there, you can see all"},{"speaker":"Alex Olsen","startTime":651.965,"endTime":655.655,"body":"of the in income expenses, photos,"},{"speaker":"Alex Olsen","startTime":655.655,"endTime":659.435,"body":"et cetera, of these deals that"},{"speaker":"Alex Olsen","startTime":655.655,"endTime":659.435,"body":"nobody else really has access to."},{"speaker":"Alex Olsen","startTime":659.935,"endTime":662.395,"body":"And you can evaluate properties that way."},{"speaker":"Alex Olsen","startTime":662.665,"endTime":665.675,"body":"We're gonna help you line up"},{"speaker":"Alex Olsen","startTime":662.665,"endTime":665.675,"body":"your property manager, your"},{"speaker":"Alex Olsen","startTime":665.675,"endTime":668.195,"body":"attorney, your insurance company."},{"speaker":"Alex Olsen","startTime":668.195,"endTime":670.585,"body":"Insurance is a huge aspect in the."},{"speaker":"Alex Olsen","startTime":670.66,"endTime":672.43,"body":"Commercial real estate space."},{"speaker":"Alex Olsen","startTime":672.88,"endTime":676.12,"body":"Then the other piece, of course,"},{"speaker":"Alex Olsen","startTime":672.88,"endTime":676.12,"body":"is making sure it gets closed out."},{"speaker":"Alex Olsen","startTime":676.12,"endTime":679.17,"body":"I say this all the time, anybody"},{"speaker":"Alex Olsen","startTime":676.12,"endTime":679.17,"body":"can put a property under contract"},{"speaker":"Alex Olsen","startTime":679.72,"endTime":683.74,"body":"but only to select brokers actually"},{"speaker":"Alex Olsen","startTime":679.72,"endTime":683.74,"body":"know how to close those out."},{"speaker":"Alex Olsen","startTime":683.745,"endTime":688.24,"body":"So there's a big negotiating piece"},{"speaker":"Alex Olsen","startTime":683.745,"endTime":688.24,"body":"when you're a buyer that you have"},{"speaker":"Alex Olsen","startTime":688.24,"endTime":692.23,"body":"to overcome, whether it's education"},{"speaker":"Alex Olsen","startTime":688.24,"endTime":692.23,"body":"on your inspection, whether it is"},{"speaker":"Alex Olsen","startTime":692.38,"endTime":695.04,"body":"simply just pricing expectations."},{"speaker":"Alex Olsen","startTime":695.46,"endTime":698.135,"body":"And so we walk through white"},{"speaker":"Alex Olsen","startTime":695.46,"endTime":698.135,"body":"glove experience, all of that."},{"speaker":"Alex Olsen","startTime":698.49,"endTime":702.09,"body":"Process and then you add"},{"speaker":"Alex Olsen","startTime":698.49,"endTime":702.09,"body":"on top the 1031 exchange."},{"speaker":"Alex Olsen","startTime":702.14,"endTime":704.15,"body":"There's all those service"},{"speaker":"Alex Olsen","startTime":702.14,"endTime":704.15,"body":"vendors too, right?"},{"speaker":"Alex Olsen","startTime":704.15,"endTime":707.4,"body":"You've got a qualified intermediary,"},{"speaker":"Alex Olsen","startTime":704.15,"endTime":707.4,"body":"which is required for a 1031"},{"speaker":"Alex Olsen","startTime":707.42,"endTime":709.85,"body":"exchange that we refer those out to."},{"speaker":"Alex Olsen","startTime":710.24,"endTime":712.52,"body":"Then you've got your replacement"},{"speaker":"Alex Olsen","startTime":710.24,"endTime":712.52,"body":"properties that we're gonna help"},{"speaker":"Alex Olsen","startTime":712.525,"endTime":714.02,"body":"you identify in this market."},{"speaker":"Alex Olsen","startTime":714.41,"endTime":717.53,"body":"But there's also other"},{"speaker":"Alex Olsen","startTime":714.41,"endTime":717.53,"body":"opportunities outside of this"},{"speaker":"Alex Olsen","startTime":717.53,"endTime":718.581,"body":"market that we help them with too."},{"speaker":"Alex Olsen","startTime":718.586,"endTime":720.8,"body":"Cause some people are like, ah,"},{"speaker":"Alex Olsen","startTime":718.586,"endTime":720.8,"body":"I wanna be completely passive."},{"speaker":"Alex Olsen","startTime":721.79,"endTime":726.32,"body":"So we help them find passive"},{"speaker":"Alex Olsen","startTime":721.79,"endTime":726.32,"body":"opportunities for 1031 exchange."},{"speaker":"Alex Olsen","startTime":726.72,"endTime":728.34,"body":"And so it's very consultative."},{"speaker":"Alex Olsen","startTime":728.74,"endTime":732.81,"body":"We're really making sure that they get"},{"speaker":"Alex Olsen","startTime":728.74,"endTime":732.81,"body":"across the finish line dot all their I,"},{"speaker":"Alex Olsen","startTime":732.93,"endTime":736.605,"body":"across all their T's when it comes to"},{"speaker":"Alex Olsen","startTime":732.93,"endTime":736.605,"body":"commercial real estate in the 1031 world."},{"speaker":"Average Joe Finances","startTime":738.38,"endTime":738.74,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":739.09,"endTime":743.73,"body":"Yeah, it's cuz it's not as simple as it"},{"speaker":"Average Joe Finances","startTime":739.09,"endTime":743.73,"body":"sounds like, oh, sell the one property"},{"speaker":"Average Joe Finances","startTime":743.73,"endTime":745.62,"body":"and then, buy into something bigger."},{"speaker":"Average Joe Finances","startTime":745.62,"endTime":748.435,"body":"There's a whole lot that goes"},{"speaker":"Average Joe Finances","startTime":745.62,"endTime":748.435,"body":"along with the 1031 exchange."},{"speaker":"Average Joe Finances","startTime":748.485,"endTime":751.395,"body":"And I've had a couple episodes that,"},{"speaker":"Average Joe Finances","startTime":748.485,"endTime":751.395,"body":"that go pretty in depth into that,"},{"speaker":"Average Joe Finances","startTime":751.445,"endTime":756.035,"body":"and the fact that, you put the process"},{"speaker":"Average Joe Finances","startTime":751.445,"endTime":756.035,"body":"right there at their fingertips and"},{"speaker":"Average Joe Finances","startTime":756.035,"endTime":757.385,"body":"give 'em like an all-in-one solution."},{"speaker":"Average Joe Finances","startTime":757.385,"endTime":761.185,"body":"So it Does take a lot of that"},{"speaker":"Average Joe Finances","startTime":757.385,"endTime":761.185,"body":"burden off of those buyers."},{"speaker":"Average Joe Finances","startTime":761.435,"endTime":763.685,"body":"So I think that's pretty huge"},{"speaker":"Average Joe Finances","startTime":761.435,"endTime":763.685,"body":"and I think that's something you"},{"speaker":"Average Joe Finances","startTime":763.685,"endTime":764.705,"body":"don't see too much out there."},{"speaker":"Average Joe Finances","startTime":764.755,"endTime":768.57,"body":"You'll see the qualified enemy I can't"},{"speaker":"Average Joe Finances","startTime":764.755,"endTime":768.57,"body":"even say the word that'll sit there"},{"speaker":"Average Joe Finances","startTime":768.57,"endTime":772.63,"body":"and hold, the funds, you don't see"},{"speaker":"Average Joe Finances","startTime":768.57,"endTime":772.63,"body":"too much about, those full service"},{"speaker":"Average Joe Finances","startTime":773.04,"endTime":774.54,"body":"that you guys are offering as well."},{"speaker":"Average Joe Finances","startTime":774.59,"endTime":778.22,"body":"That is pretty interesting too, that"},{"speaker":"Average Joe Finances","startTime":774.59,"endTime":778.22,"body":"you have this offline marketplace"},{"speaker":"Average Joe Finances","startTime":778.22,"endTime":783.045,"body":"to find the off market deals,"},{"speaker":"Average Joe Finances","startTime":778.22,"endTime":783.045,"body":"which is pretty cool, but it's"},{"speaker":"Average Joe Finances","startTime":783.225,"endTime":786.045,"body":"almost like it's own on the market."},{"speaker":"Average Joe Finances","startTime":786.315,"endTime":788.235,"body":"Marketplace that's off the market."},{"speaker":"Average Joe Finances","startTime":788.595,"endTime":791.245,"body":"I'm a little confused by that, but"},{"speaker":"Average Joe Finances","startTime":788.595,"endTime":791.245,"body":"yeah, I get what you're saying, man."},{"speaker":"Average Joe Finances","startTime":791.245,"endTime":791.765,"body":"So that's pretty cool."},{"speaker":"Alex Olsen","startTime":792.32,"endTime":794.18,"body":"The funny thing"},{"speaker":"Alex Olsen","startTime":792.32,"endTime":794.18,"body":"is, yeah, you talk about it"},{"speaker":"Alex Olsen","startTime":794.18,"endTime":794.99,"body":"and they say, hang on a second."},{"speaker":"Alex Olsen","startTime":795.04,"endTime":796.09,"body":"That sounds like it's listed."},{"speaker":"Alex Olsen","startTime":796.09,"endTime":798.85,"body":"And I'm like, I know it sounds"},{"speaker":"Alex Olsen","startTime":796.09,"endTime":798.85,"body":"like it's listed, it's not."},{"speaker":"Alex Olsen","startTime":798.9,"endTime":803.64,"body":"But how we've developed it is we really,"},{"speaker":"Alex Olsen","startTime":798.9,"endTime":803.64,"body":"these people are members, so to speak."},{"speaker":"Alex Olsen","startTime":803.64,"endTime":804.27,"body":"They sign up."},{"speaker":"Alex Olsen","startTime":804.27,"endTime":806.255,"body":"It's just if you're going and"},{"speaker":"Alex Olsen","startTime":804.27,"endTime":806.255,"body":"say, Hey look, I wanna be on"},{"speaker":"Alex Olsen","startTime":806.255,"endTime":807.535,"body":"your market, your deal flow list."},{"speaker":"Alex Olsen","startTime":808.295,"endTime":811.415,"body":"We actually have more of a little"},{"speaker":"Alex Olsen","startTime":808.295,"endTime":811.415,"body":"bit more sophisticated, so most"},{"speaker":"Alex Olsen","startTime":811.415,"endTime":813.125,"body":"people aren't used to that."},{"speaker":"Alex Olsen","startTime":813.125,"endTime":816.8,"body":"It's, they're used to maybe a broker"},{"speaker":"Alex Olsen","startTime":813.125,"endTime":816.8,"body":"having a blast that goes out and maybe"},{"speaker":"Alex Olsen","startTime":816.8,"endTime":820.095,"body":"there's a Google Drive link with a"},{"speaker":"Alex Olsen","startTime":816.8,"endTime":820.095,"body":"couple properties on it kind of thing."},{"speaker":"Average Joe Finances","startTime":820.095,"endTime":821.475,"body":"A"},{"speaker":"Average Joe Finances","startTime":820.095,"endTime":821.475,"body":"pocket listings and, yeah."},{"speaker":"Alex Olsen","startTime":822.09,"endTime":823.2,"body":"Pocket listings."},{"speaker":"Alex Olsen","startTime":823.63,"endTime":826.18,"body":"But we try to add a little"},{"speaker":"Alex Olsen","startTime":823.63,"endTime":826.18,"body":"bit extra level to that."},{"speaker":"Alex Olsen","startTime":826.18,"endTime":829.21,"body":"We actually even spend a lot"},{"speaker":"Alex Olsen","startTime":826.18,"endTime":829.21,"body":"of money with the seller."},{"speaker":"Alex Olsen","startTime":829.25,"endTime":832.64,"body":"It's our money, but we're spending time"},{"speaker":"Alex Olsen","startTime":829.25,"endTime":832.64,"body":"with the sellers and money on getting"},{"speaker":"Alex Olsen","startTime":832.64,"endTime":838.16,"body":"drone f footage if they allow us to, of"},{"speaker":"Alex Olsen","startTime":832.64,"endTime":838.16,"body":"the exterior getting actually a video,"},{"speaker":"Alex Olsen","startTime":838.64,"endTime":843.5,"body":"or sorry, a photo guy in there to do a"},{"speaker":"Alex Olsen","startTime":838.64,"endTime":843.5,"body":"3D tour of it, setting up the 3D camera."},{"speaker":"Alex Olsen","startTime":843.84,"endTime":847.37,"body":"So that way, a lot of these"},{"speaker":"Alex Olsen","startTime":843.84,"endTime":847.37,"body":"out-of-state guys, even local guys"},{"speaker":"Alex Olsen","startTime":847.37,"endTime":850.84,"body":"and gals, you don't even have to go"},{"speaker":"Alex Olsen","startTime":847.37,"endTime":850.84,"body":"into the units and set up a tour."},{"speaker":"Alex Olsen","startTime":850.84,"endTime":852.55,"body":"We've got all that for you."},{"speaker":"Alex Olsen","startTime":853.0,"endTime":856.63,"body":"So we can do a lot more volume"},{"speaker":"Alex Olsen","startTime":853.0,"endTime":856.63,"body":"and help a lot more investors"},{"speaker":"Alex Olsen","startTime":856.635,"endTime":858.56,"body":"than just, five or six a year."},{"speaker":"Alex Olsen","startTime":858.565,"endTime":860.605,"body":"We're helping, 40, 50 people a year."},{"speaker":"Average Joe Finances","startTime":861.235,"endTime":861.415,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":861.415,"endTime":864.415,"body":"So that, that essentially"},{"speaker":"Average Joe Finances","startTime":861.415,"endTime":864.415,"body":"it's a way that they can keep"},{"speaker":"Average Joe Finances","startTime":864.465,"endTime":865.615,"body":"their property off the market."},{"speaker":"Average Joe Finances","startTime":866.035,"endTime":870.695,"body":"But if the right buyer comes along,"},{"speaker":"Average Joe Finances","startTime":866.035,"endTime":870.695,"body":"they're like, yeah, hey we'll sell."},{"speaker":"Average Joe Finances","startTime":870.745,"endTime":874.475,"body":"I believe you can, The right price"},{"speaker":"Average Joe Finances","startTime":870.745,"endTime":874.475,"body":"will get anybody to sell, yeah."},{"speaker":"Average Joe Finances","startTime":874.715,"endTime":877.535,"body":"If somebody came to my house and said,"},{"speaker":"Average Joe Finances","startTime":874.715,"endTime":877.535,"body":"Hey, we'll give you $2 million for"},{"speaker":"Average Joe Finances","startTime":877.535,"endTime":881.555,"body":"this house when it's worth about like"},{"speaker":"Average Joe Finances","startTime":877.535,"endTime":881.555,"body":"almost $1.2 million I'd probably take"},{"speaker":"Average Joe Finances","startTime":881.555,"endTime":883.325,"body":"the $2 million and say, here you go."},{"speaker":"Average Joe Finances","startTime":883.405,"endTime":887.115,"body":"But that's there, there is a price where"},{"speaker":"Average Joe Finances","startTime":883.405,"endTime":887.115,"body":"people will say, okay, yeah let's do this."},{"speaker":"Average Joe Finances","startTime":887.365,"endTime":892.125,"body":"But it's interesting that, cuz you have"},{"speaker":"Average Joe Finances","startTime":887.365,"endTime":892.125,"body":"this marketplace set up to where, it's"},{"speaker":"Average Joe Finances","startTime":892.125,"endTime":894.74,"body":"basically a lot of the work is now done."},{"speaker":"Average Joe Finances","startTime":895.25,"endTime":901.61,"body":"For these buyers and they're just looking"},{"speaker":"Average Joe Finances","startTime":895.25,"endTime":901.61,"body":"for a place to move this money, right?"},{"speaker":"Average Joe Finances","startTime":901.86,"endTime":905.58,"body":"To not inherit that tax burden"},{"speaker":"Average Joe Finances","startTime":901.86,"endTime":905.58,"body":"that comes with it cuz it"},{"speaker":"Average Joe Finances","startTime":905.58,"endTime":906.99,"body":"is a short timeframe, right?"},{"speaker":"Average Joe Finances","startTime":906.99,"endTime":911.85,"body":"You have six months, you have 45 days"},{"speaker":"Average Joe Finances","startTime":906.99,"endTime":911.85,"body":"to identify the three properties, right?"},{"speaker":"Average Joe Finances","startTime":911.85,"endTime":914.1,"body":"And then you have six months"},{"speaker":"Average Joe Finances","startTime":911.85,"endTime":914.1,"body":"to actually close on them."},{"speaker":"Average Joe Finances","startTime":914.49,"endTime":918.8,"body":"So it's definitely, this definitely helps"},{"speaker":"Average Joe Finances","startTime":914.49,"endTime":918.8,"body":"shorten that timeframe for a lot of folks."},{"speaker":"Alex Olsen","startTime":919.67,"endTime":920.3,"body":"Yeah, it really does."},{"speaker":"Alex Olsen","startTime":920.3,"endTime":925.28,"body":"And we also take a look at, there's so"},{"speaker":"Alex Olsen","startTime":920.3,"endTime":925.28,"body":"much that we try to put into it from"},{"speaker":"Alex Olsen","startTime":925.28,"endTime":929.73,"body":"a consultative process cuz there's so"},{"speaker":"Alex Olsen","startTime":925.28,"endTime":929.73,"body":"many people that maybe own a duplex or a"},{"speaker":"Alex Olsen","startTime":929.73,"endTime":933.3,"body":"fourplex and they've owned it for 10 years"},{"speaker":"Alex Olsen","startTime":929.73,"endTime":933.3,"body":"and they've got a ton of equity in it,"},{"speaker":"Alex Olsen","startTime":933.33,"endTime":936.39,"body":"whether that's been paid down over that"},{"speaker":"Alex Olsen","startTime":933.33,"endTime":936.39,"body":"10 year period, the principle payment."},{"speaker":"Alex Olsen","startTime":936.84,"endTime":938.85,"body":"And then the other side"},{"speaker":"Alex Olsen","startTime":936.84,"endTime":938.85,"body":"of it is, appreciation."},{"speaker":"Alex Olsen","startTime":939.385,"endTime":940.375,"body":"So they've got a ton of equity."},{"speaker":"Alex Olsen","startTime":940.375,"endTime":943.165,"body":"They're maybe only getting"},{"speaker":"Alex Olsen","startTime":940.375,"endTime":943.165,"body":"2%, 3%, 4% on their original"},{"speaker":"Alex Olsen","startTime":943.165,"endTime":944.545,"body":"equity that they put into it."},{"speaker":"Alex Olsen","startTime":945.025,"endTime":950.345,"body":"Whereas if you sell that in 1031 exchange"},{"speaker":"Alex Olsen","startTime":945.025,"endTime":950.345,"body":"into a, you go from a fourplex to a"},{"speaker":"Alex Olsen","startTime":950.435,"endTime":954.735,"body":"10 units or 15, now look at all that"},{"speaker":"Alex Olsen","startTime":950.435,"endTime":954.735,"body":"cash flow you're, you've got going on."},{"speaker":"Alex Olsen","startTime":954.735,"endTime":957.885,"body":"And that's all just through"},{"speaker":"Alex Olsen","startTime":954.735,"endTime":957.885,"body":"doing 1 1031 exchange."},{"speaker":"Alex Olsen","startTime":958.315,"endTime":962.035,"body":"And we've got, of course, case"},{"speaker":"Alex Olsen","startTime":958.315,"endTime":962.035,"body":"studies on, you know how that works."},{"speaker":"Alex Olsen","startTime":962.035,"endTime":963.145,"body":"We've got one guy."},{"speaker":"Alex Olsen","startTime":963.73,"endTime":968.44,"body":"That we sold his four four plexes for"},{"speaker":"Alex Olsen","startTime":963.73,"endTime":968.44,"body":"him, which was about $1.6 million bucks."},{"speaker":"Alex Olsen","startTime":969.07,"endTime":973.34,"body":"He partnered with another guy that"},{"speaker":"Alex Olsen","startTime":969.07,"endTime":973.34,"body":"was also selling his 10 units."},{"speaker":"Alex Olsen","startTime":973.55,"endTime":976.55,"body":"They ended up partnering together"},{"speaker":"Alex Olsen","startTime":973.55,"endTime":976.55,"body":"with their 1031 exchange."},{"speaker":"Alex Olsen","startTime":976.55,"endTime":981.06,"body":"This was all through 1031 exchange"},{"speaker":"Alex Olsen","startTime":976.55,"endTime":981.06,"body":"to buy 92 units for $7.5 million."},{"speaker":"Alex Olsen","startTime":981.985,"endTime":986.715,"body":"So he took his $1.6 million and got"},{"speaker":"Alex Olsen","startTime":981.985,"endTime":986.715,"body":"into, 92 units in a class A market."},{"speaker":"Alex Olsen","startTime":986.715,"endTime":991.335,"body":"That's the power of being creative"},{"speaker":"Alex Olsen","startTime":986.715,"endTime":991.335,"body":"with it also being really prepared."},{"speaker":"Alex Olsen","startTime":991.395,"endTime":993.645,"body":"So we helped him with"},{"speaker":"Alex Olsen","startTime":991.395,"endTime":993.645,"body":"the timing of all that."},{"speaker":"Alex Olsen","startTime":994.165,"endTime":999.26,"body":"And you can go from a couple fourplexes"},{"speaker":"Alex Olsen","startTime":994.165,"endTime":999.26,"body":"to almost a hundred units in six"},{"speaker":"Alex Olsen","startTime":999.26,"endTime":1001.09,"body":"months if you do it correctly."},{"speaker":"Average Joe Finances","startTime":1001.63,"endTime":1002.47,"body":"Yeah that's huge."},{"speaker":"Average Joe Finances","startTime":1002.47,"endTime":1006.23,"body":"And the thing is too, they also had"},{"speaker":"Average Joe Finances","startTime":1002.47,"endTime":1006.23,"body":"a lot of that principle paid down"},{"speaker":"Average Joe Finances","startTime":1006.23,"endTime":1009.48,"body":"their operating expenses are gonna"},{"speaker":"Average Joe Finances","startTime":1006.23,"endTime":1009.48,"body":"be a lot less when it comes to how"},{"speaker":"Average Joe Finances","startTime":1009.48,"endTime":1011.43,"body":"much of it is bank financed, right?"},{"speaker":"Average Joe Finances","startTime":1011.43,"endTime":1015.645,"body":"So that's pretty huge, especially if cash"},{"speaker":"Average Joe Finances","startTime":1011.43,"endTime":1015.645,"body":"flow is what you're going for which most"},{"speaker":"Average Joe Finances","startTime":1015.645,"endTime":1018.205,"body":"people are, cash flow is king, right?"},{"speaker":"Average Joe Finances","startTime":1018.205,"endTime":1020.605,"body":"Because that's what replaces your income."},{"speaker":"Average Joe Finances","startTime":1020.61,"endTime":1024.865,"body":"That's what allows you the financial"},{"speaker":"Average Joe Finances","startTime":1020.61,"endTime":1024.865,"body":"freedom to move on and do something else."},{"speaker":"Average Joe Finances","startTime":1024.865,"endTime":1026.455,"body":"I definitely think that is huge."},{"speaker":"Average Joe Finances","startTime":1026.455,"endTime":1029.335,"body":"Alex, with everything that"},{"speaker":"Average Joe Finances","startTime":1026.455,"endTime":1029.335,"body":"you do with your company."},{"speaker":"Average Joe Finances","startTime":1029.335,"endTime":1033.485,"body":"So you're definitely focused"},{"speaker":"Average Joe Finances","startTime":1029.335,"endTime":1033.485,"body":"on helping buyers succeed."},{"speaker":"Average Joe Finances","startTime":1033.535,"endTime":1038.215,"body":"What would you say are some of the"},{"speaker":"Average Joe Finances","startTime":1033.535,"endTime":1038.215,"body":"most valuable resources that you"},{"speaker":"Average Joe Finances","startTime":1038.215,"endTime":1040.405,"body":"guys have that help the buyers?"},{"speaker":"Alex Olsen","startTime":1042.31,"endTime":1043.0,"body":"Great question."},{"speaker":"Alex Olsen","startTime":1043.0,"endTime":1046.866,"body":"So from a buyer's perspective, the"},{"speaker":"Alex Olsen","startTime":1043.0,"endTime":1046.866,"body":"first thing you gotta do when you're"},{"speaker":"Alex Olsen","startTime":1046.866,"endTime":1050.706,"body":"working with us is you gotta understand"},{"speaker":"Alex Olsen","startTime":1046.866,"endTime":1050.706,"body":"the Kansas City market and every"},{"speaker":"Alex Olsen","startTime":1050.706,"endTime":1052.626,"body":"real estate market is different."},{"speaker":"Alex Olsen","startTime":1052.786,"endTime":1058.361,"body":"We know that most buyers know that,"},{"speaker":"Alex Olsen","startTime":1052.786,"endTime":1058.361,"body":"but there's a lot of real estate"},{"speaker":"Alex Olsen","startTime":1058.361,"endTime":1061.881,"body":"markets where you can only buy in"},{"speaker":"Alex Olsen","startTime":1058.361,"endTime":1061.881,"body":"certain pockets, whether it's urban"},{"speaker":"Alex Olsen","startTime":1061.881,"endTime":1066.011,"body":"core or suburban, and you got a"},{"speaker":"Alex Olsen","startTime":1061.881,"endTime":1066.011,"body":"lot of markets to stay away from."},{"speaker":"Alex Olsen","startTime":1066.411,"endTime":1068.871,"body":"And then you also have a lot of markets"},{"speaker":"Alex Olsen","startTime":1066.411,"endTime":1068.871,"body":"too, where maybe they're not very"},{"speaker":"Alex Olsen","startTime":1068.871,"endTime":1073.481,"body":"landlord friendly or they have high"},{"speaker":"Alex Olsen","startTime":1068.871,"endTime":1073.481,"body":"taxes or, different geopolitical issues."},{"speaker":"Alex Olsen","startTime":1074.151,"endTime":1077.331,"body":"So you've gotta understand the"},{"speaker":"Alex Olsen","startTime":1074.151,"endTime":1077.331,"body":"Kansas City market, which has"},{"speaker":"Alex Olsen","startTime":1077.721,"endTime":1082.856,"body":"no real landlord restrictions"},{"speaker":"Alex Olsen","startTime":1077.721,"endTime":1082.856,"body":"and also has pretty low taxes."},{"speaker":"Alex Olsen","startTime":1082.856,"endTime":1084.056,"body":"So those are two good things."},{"speaker":"Alex Olsen","startTime":1084.356,"endTime":1088.406,"body":"Then the third thing you gotta"},{"speaker":"Alex Olsen","startTime":1084.356,"endTime":1088.406,"body":"understand is that most submarkets in"},{"speaker":"Alex Olsen","startTime":1088.406,"endTime":1092.006,"body":"Kansas City are good places to invest."},{"speaker":"Alex Olsen","startTime":1092.616,"endTime":1094.326,"body":"You get a lot of questions"},{"speaker":"Alex Olsen","startTime":1092.616,"endTime":1094.326,"body":"like is this a good area?"},{"speaker":"Alex Olsen","startTime":1094.326,"endTime":1094.867,"body":"Is this a bad area?"},{"speaker":"Alex Olsen","startTime":1094.872,"endTime":1098.236,"body":"And I hate to say it because it"},{"speaker":"Alex Olsen","startTime":1094.872,"endTime":1098.236,"body":"sounds lazy, but no, the most"},{"speaker":"Alex Olsen","startTime":1098.236,"endTime":1099.496,"body":"areas are pretty dang good."},{"speaker":"Alex Olsen","startTime":1099.916,"endTime":1104.336,"body":"So we provided a full education"},{"speaker":"Alex Olsen","startTime":1099.916,"endTime":1104.336,"body":"package essentially for them"},{"speaker":"Alex Olsen","startTime":1104.336,"endTime":1105.596,"body":"to understand the market."},{"speaker":"Alex Olsen","startTime":1106.166,"endTime":1110.066,"body":"What are each of the submarkets, what"},{"speaker":"Alex Olsen","startTime":1106.166,"endTime":1110.066,"body":"are those kind of returns look like?"},{"speaker":"Alex Olsen","startTime":1110.346,"endTime":1113.256,"body":"So that's, One of the"},{"speaker":"Alex Olsen","startTime":1110.346,"endTime":1113.256,"body":"pieces you gotta have."},{"speaker":"Alex Olsen","startTime":1113.256,"endTime":1117.306,"body":"Then we're also gonna go ahead and"},{"speaker":"Alex Olsen","startTime":1113.256,"endTime":1117.306,"body":"provide at least three different"},{"speaker":"Alex Olsen","startTime":1117.306,"endTime":1119.966,"body":"property management companies for"},{"speaker":"Alex Olsen","startTime":1117.306,"endTime":1119.966,"body":"them to work with and contact."},{"speaker":"Alex Olsen","startTime":1120.536,"endTime":1121.436,"body":"So that's the second thing."},{"speaker":"Alex Olsen","startTime":1121.436,"endTime":1123.326,"body":"So education and property management."},{"speaker":"Alex Olsen","startTime":1123.776,"endTime":1127.466,"body":"Third thing is insurance,"},{"speaker":"Alex Olsen","startTime":1123.776,"endTime":1127.466,"body":"because that is such a large"},{"speaker":"Alex Olsen","startTime":1127.471,"endTime":1130.536,"body":"chunk of the the expense ratio."},{"speaker":"Alex Olsen","startTime":1131.421,"endTime":1135.151,"body":"And you can't just go out there and use"},{"speaker":"Alex Olsen","startTime":1131.421,"endTime":1135.151,"body":"or at least we advise against it, state"},{"speaker":"Alex Olsen","startTime":1135.151,"endTime":1137.671,"body":"Farm Insurance or something like that."},{"speaker":"Alex Olsen","startTime":1137.671,"endTime":1141.691,"body":"You need to find a commercial"},{"speaker":"Alex Olsen","startTime":1137.671,"endTime":1141.691,"body":"style insurance company that"},{"speaker":"Alex Olsen","startTime":1141.691,"endTime":1143.101,"body":"gets you the best rates of terms."},{"speaker":"Alex Olsen","startTime":1143.431,"endTime":1144.601,"body":"So that's the third piece."},{"speaker":"Alex Olsen","startTime":1144.631,"endTime":1146.191,"body":"And then you've gotta have a lender."},{"speaker":"Alex Olsen","startTime":1146.841,"endTime":1150.081,"body":"You've gotta have most of the time"},{"speaker":"Alex Olsen","startTime":1146.841,"endTime":1150.081,"body":"in the space we work in, which is"},{"speaker":"Alex Olsen","startTime":1150.081,"endTime":1153.661,"body":"the class, A, B, or C, but it has"},{"speaker":"Alex Olsen","startTime":1150.081,"endTime":1153.661,"body":"some kind of value add component."},{"speaker":"Alex Olsen","startTime":1154.111,"endTime":1159.001,"body":"So you've gotta have a local lender that"},{"speaker":"Alex Olsen","startTime":1154.111,"endTime":1159.001,"body":"knows the market wants to land on it."},{"speaker":"Alex Olsen","startTime":1159.001,"endTime":1162.771,"body":"It's not gonna do a whole bunch of"},{"speaker":"Alex Olsen","startTime":1159.001,"endTime":1162.771,"body":"silliness with loan requirements."},{"speaker":"Alex Olsen","startTime":1163.191,"endTime":1167.081,"body":"So we've got lenders all lined"},{"speaker":"Alex Olsen","startTime":1163.191,"endTime":1167.081,"body":"up for this in, into Kansas City."},{"speaker":"Alex Olsen","startTime":1167.481,"endTime":1169.821,"body":"And, they'll help you obviously"},{"speaker":"Alex Olsen","startTime":1167.481,"endTime":1169.821,"body":"with the rates and terms, et cetera."},{"speaker":"Alex Olsen","startTime":1169.821,"endTime":1174.951,"body":"So we really provide this kind of upfront"},{"speaker":"Alex Olsen","startTime":1169.821,"endTime":1174.951,"body":"package to them to get comfortable with"},{"speaker":"Alex Olsen","startTime":1174.951,"endTime":1179.151,"body":"the market, know their boots on the"},{"speaker":"Alex Olsen","startTime":1174.951,"endTime":1179.151,"body":"ground here and if they're already here,"},{"speaker":"Alex Olsen","startTime":1179.201,"endTime":1180.761,"body":"maybe improve their boots on the ground."},{"speaker":"Alex Olsen","startTime":1180.811,"endTime":1185.551,"body":"And really get them started on the"},{"speaker":"Alex Olsen","startTime":1180.811,"endTime":1185.551,"body":"Kansas City market and bought into"},{"speaker":"Alex Olsen","startTime":1185.551,"endTime":1188.761,"body":"every single piece of the economic"},{"speaker":"Alex Olsen","startTime":1185.551,"endTime":1188.761,"body":"activity that's going on here."},{"speaker":"Average Joe Finances","startTime":1189.841,"endTime":1190.921,"body":"Yeah that's fantastic."},{"speaker":"Average Joe Finances","startTime":1190.921,"endTime":1191.521,"body":"Especially."},{"speaker":"Average Joe Finances","startTime":1191.961,"endTime":1193.011,"body":"With those pieces, right?"},{"speaker":"Average Joe Finances","startTime":1193.011,"endTime":1195.231,"body":"You're talking about the education,"},{"speaker":"Average Joe Finances","startTime":1193.011,"endTime":1195.231,"body":"the property management, having the"},{"speaker":"Average Joe Finances","startTime":1195.231,"endTime":1199.856,"body":"right insurance it can't just be the"},{"speaker":"Average Joe Finances","startTime":1195.231,"endTime":1199.856,"body":"cookie cutter versions of all that."},{"speaker":"Average Joe Finances","startTime":1200.086,"endTime":1203.716,"body":"I always been a firm believer"},{"speaker":"Average Joe Finances","startTime":1200.086,"endTime":1203.716,"body":"in education no matter what."},{"speaker":"Average Joe Finances","startTime":1204.241,"endTime":1210.591,"body":"Like niche or investment class you"},{"speaker":"Average Joe Finances","startTime":1204.241,"endTime":1210.591,"body":"wanna get into knowing about it is"},{"speaker":"Average Joe Finances","startTime":1210.591,"endTime":1213.651,"body":"so important, especially knowing the"},{"speaker":"Average Joe Finances","startTime":1210.591,"endTime":1213.651,"body":"market that you wanna invest in, right?"},{"speaker":"Average Joe Finances","startTime":1213.651,"endTime":1216.571,"body":"You're talking about, people that"},{"speaker":"Average Joe Finances","startTime":1213.651,"endTime":1216.571,"body":"are investing in Kansas City,"},{"speaker":"Average Joe Finances","startTime":1216.571,"endTime":1218.011,"body":"like you need to know Kansas City."},{"speaker":"Average Joe Finances","startTime":1218.011,"endTime":1221.711,"body":"You can't just say, oh, I found some"},{"speaker":"Average Joe Finances","startTime":1218.011,"endTime":1221.711,"body":"stuff online, this looks good the numbers"},{"speaker":"Average Joe Finances","startTime":1222.151,"endTime":1223.951,"body":"work, and yeah, I'm just gonna buy it."},{"speaker":"Average Joe Finances","startTime":1223.951,"endTime":1227.721,"body":"And then turns out, you find out later"},{"speaker":"Average Joe Finances","startTime":1223.951,"endTime":1227.721,"body":"on that you can't even rent in that area."},{"speaker":"Average Joe Finances","startTime":1228.071,"endTime":1230.231,"body":"So it's, that's definitely"},{"speaker":"Average Joe Finances","startTime":1228.071,"endTime":1230.231,"body":"super important, man."},{"speaker":"Average Joe Finances","startTime":1230.231,"endTime":1231.671,"body":"So I appreciate you pointing that out."},{"speaker":"Average Joe Finances","startTime":1232.481,"endTime":1233.351,"body":"All right, Alex."},{"speaker":"Average Joe Finances","startTime":1233.431,"endTime":1239.411,"body":"Let me see I wanna ask you this too,"},{"speaker":"Average Joe Finances","startTime":1233.431,"endTime":1239.411,"body":"because, your evolution going from when"},{"speaker":"Average Joe Finances","startTime":1239.411,"endTime":1243.211,"body":"you started and got out of the corporate"},{"speaker":"Average Joe Finances","startTime":1239.411,"endTime":1243.211,"body":"world, 15 years is a long time, right?"},{"speaker":"Average Joe Finances","startTime":1243.471,"endTime":1246.921,"body":"To be in corporate America and"},{"speaker":"Average Joe Finances","startTime":1243.471,"endTime":1246.921,"body":"then deciding to just jump ship"},{"speaker":"Average Joe Finances","startTime":1246.971,"endTime":1248.381,"body":"and bet on yourself, right?"},{"speaker":"Average Joe Finances","startTime":1248.801,"endTime":1249.701,"body":"So I wanna ask you this."},{"speaker":"Average Joe Finances","startTime":1249.751,"endTime":1250.801,"body":"What is your why?"},{"speaker":"Average Joe Finances","startTime":1250.831,"endTime":1254.281,"body":"What made you want to go out on"},{"speaker":"Average Joe Finances","startTime":1250.831,"endTime":1254.281,"body":"your own and be an entrepreneur?"},{"speaker":"Alex Olsen","startTime":1256.141,"endTime":1257.671,"body":"Good question as always."},{"speaker":"Alex Olsen","startTime":1257.701,"endTime":1259.561,"body":"Why do we do the things that we do?"},{"speaker":"Alex Olsen","startTime":1259.951,"endTime":1263.761,"body":"And there was a couple"},{"speaker":"Alex Olsen","startTime":1259.951,"endTime":1263.761,"body":"major points for me."},{"speaker":"Alex Olsen","startTime":1263.761,"endTime":1269.241,"body":"It was untapped, uncorked,"},{"speaker":"Alex Olsen","startTime":1263.761,"endTime":1269.241,"body":"untapped income potential."},{"speaker":"Alex Olsen","startTime":1269.616,"endTime":1270.096,"body":"Okay."},{"speaker":"Alex Olsen","startTime":1270.426,"endTime":1273.666,"body":"When you're working for yourself, you"},{"speaker":"Alex Olsen","startTime":1270.426,"endTime":1273.666,"body":"can make as much as little as you want."},{"speaker":"Alex Olsen","startTime":1273.666,"endTime":1277.326,"body":"Now, of course, you're always"},{"speaker":"Alex Olsen","startTime":1273.666,"endTime":1277.326,"body":"confined by what market you're in,"},{"speaker":"Alex Olsen","startTime":1278.016,"endTime":1280.326,"body":"but that to me is a, was a big piece."},{"speaker":"Alex Olsen","startTime":1280.326,"endTime":1285.101,"body":"I felt like I was a pretty high performer,"},{"speaker":"Alex Olsen","startTime":1280.326,"endTime":1285.101,"body":"my corporate job, and I had a lot"},{"speaker":"Alex Olsen","startTime":1285.106,"endTime":1290.131,"body":"of ideas of how to like, incentivize"},{"speaker":"Alex Olsen","startTime":1285.106,"endTime":1290.131,"body":"myself how I can make more money."},{"speaker":"Alex Olsen","startTime":1290.521,"endTime":1293.851,"body":"But looking back on it now, of"},{"speaker":"Alex Olsen","startTime":1290.521,"endTime":1293.851,"body":"course, hindsight's 2020, you can see"},{"speaker":"Alex Olsen","startTime":1293.856,"endTime":1294.931,"body":"all these little points where they."},{"speaker":"Alex Olsen","startTime":1296.146,"endTime":1298.966,"body":"I don't wanna say blocked"},{"speaker":"Alex Olsen","startTime":1296.146,"endTime":1298.966,"body":"those, that's not quite fair."},{"speaker":"Alex Olsen","startTime":1298.966,"endTime":1302.056,"body":"But it was like, man, it doesn't"},{"speaker":"Alex Olsen","startTime":1298.966,"endTime":1302.056,"body":"fit into really the business model."},{"speaker":"Alex Olsen","startTime":1302.626,"endTime":1306.926,"body":"And so that was the number one to me is"},{"speaker":"Alex Olsen","startTime":1302.626,"endTime":1306.926,"body":"untapped or uncorked income potential."},{"speaker":"Alex Olsen","startTime":1307.316,"endTime":1310.016,"body":"And then the other thing is I really"},{"speaker":"Alex Olsen","startTime":1307.316,"endTime":1310.016,"body":"needed a sense of accomplishment."},{"speaker":"Alex Olsen","startTime":1310.196,"endTime":1315.186,"body":"I really needed, I felt like I"},{"speaker":"Alex Olsen","startTime":1310.196,"endTime":1315.186,"body":"always wanted to accomplish things."},{"speaker":"Alex Olsen","startTime":1315.721,"endTime":1320.761,"body":"So I wanted to get things done and not"},{"speaker":"Alex Olsen","startTime":1315.721,"endTime":1320.761,"body":"just do something for somebody else."},{"speaker":"Alex Olsen","startTime":1321.121,"endTime":1324.716,"body":"So maybe I'm a little selfish in that"},{"speaker":"Alex Olsen","startTime":1321.121,"endTime":1324.716,"body":"way, but, I love getting deals done."},{"speaker":"Alex Olsen","startTime":1325.046,"endTime":1329.426,"body":"I like getting things across the"},{"speaker":"Alex Olsen","startTime":1325.046,"endTime":1329.426,"body":"finish line, never giving up on things."},{"speaker":"Alex Olsen","startTime":1329.431,"endTime":1332.042,"body":"If you're in the corporate world,"},{"speaker":"Alex Olsen","startTime":1329.431,"endTime":1332.042,"body":"you've got all these projects and"},{"speaker":"Alex Olsen","startTime":1332.181,"endTime":1335.571,"body":"maybe some of 'em are amazing and"},{"speaker":"Alex Olsen","startTime":1332.181,"endTime":1335.571,"body":"maybe some of 'em don't work out."},{"speaker":"Alex Olsen","startTime":1336.141,"endTime":1340.101,"body":"But when you work for yourself,"},{"speaker":"Alex Olsen","startTime":1336.141,"endTime":1340.101,"body":"you really only get paid."},{"speaker":"Alex Olsen","startTime":1340.491,"endTime":1343.781,"body":"When things get done or sold or produce."},{"speaker":"Average Joe Finances","startTime":1343.781,"endTime":1344.411,"body":"When you perform."},{"speaker":"Alex Olsen","startTime":1344.981,"endTime":1346.241,"body":"Or when"},{"speaker":"Alex Olsen","startTime":1344.981,"endTime":1346.241,"body":"Yeah, when you perform."},{"speaker":"Average Joe Finances","startTime":1346.241,"endTime":1346.301,"body":"Yeah."},{"speaker":"Alex Olsen","startTime":1346.611,"endTime":1349.721,"body":"You can't just sit"},{"speaker":"Alex Olsen","startTime":1346.611,"endTime":1349.721,"body":"back and take half a day off and"},{"speaker":"Alex Olsen","startTime":1349.721,"endTime":1350.681,"body":"make the same amount of money."},{"speaker":"Alex Olsen","startTime":1350.681,"endTime":1351.971,"body":"Now you can do that occasionally."},{"speaker":"Alex Olsen","startTime":1352.531,"endTime":1355.321,"body":"But every second, every"},{"speaker":"Alex Olsen","startTime":1352.531,"endTime":1355.321,"body":"minute really matters."},{"speaker":"Alex Olsen","startTime":1356.591,"endTime":1358.126,"body":"In how you use your time."},{"speaker":"Alex Olsen","startTime":1358.366,"endTime":1362.646,"body":"And that was really fulfilling to me,"},{"speaker":"Alex Olsen","startTime":1358.366,"endTime":1362.646,"body":"was coming into, working for yourself"},{"speaker":"Alex Olsen","startTime":1362.646,"endTime":1366.426,"body":"is every minute you wanted to spend, you"},{"speaker":"Alex Olsen","startTime":1362.646,"endTime":1366.426,"body":"could spend it on yourself in some way."},{"speaker":"Alex Olsen","startTime":1366.431,"endTime":1369.831,"body":"Whether it's improving your business"},{"speaker":"Alex Olsen","startTime":1366.431,"endTime":1369.831,"body":"or, improving your relationships"},{"speaker":"Alex Olsen","startTime":1369.831,"endTime":1372.036,"body":"with others in the community"},{"speaker":"Alex Olsen","startTime":1369.831,"endTime":1372.036,"body":"or whatever the case may be."},{"speaker":"Alex Olsen","startTime":1372.536,"endTime":1375.486,"body":"But it was all about,"},{"speaker":"Alex Olsen","startTime":1372.536,"endTime":1375.486,"body":"you and helping you grow."},{"speaker":"Average Joe Finances","startTime":1376.761,"endTime":1377.541,"body":"Yeah, I love that."},{"speaker":"Average Joe Finances","startTime":1377.781,"endTime":1378.381,"body":"I love that."},{"speaker":"Average Joe Finances","startTime":1378.811,"endTime":1382.361,"body":"And everybody has their reasons,"},{"speaker":"Average Joe Finances","startTime":1378.811,"endTime":1382.361,"body":"for why they do what they do."},{"speaker":"Average Joe Finances","startTime":1382.361,"endTime":1388.116,"body":"But, truly knowing what your why is"},{"speaker":"Average Joe Finances","startTime":1382.361,"endTime":1388.116,"body":"what's gonna help you guide yourself,"},{"speaker":"Average Joe Finances","startTime":1388.146,"endTime":1389.461,"body":"and keep you on course, right?"},{"speaker":"Average Joe Finances","startTime":1389.461,"endTime":1394.606,"body":"Because, you can always sit there"},{"speaker":"Average Joe Finances","startTime":1389.461,"endTime":1394.606,"body":"and focus back, and remember why it"},{"speaker":"Average Joe Finances","startTime":1394.606,"endTime":1396.166,"body":"is you're doing what you're doing."},{"speaker":"Average Joe Finances","startTime":1396.556,"endTime":1399.456,"body":"And that's why I love a question like"},{"speaker":"Average Joe Finances","startTime":1396.556,"endTime":1399.456,"body":"that, man, because it really just makes"},{"speaker":"Average Joe Finances","startTime":1399.461,"endTime":1401.851,"body":"you think about, Am I really giving this?"},{"speaker":"Average Joe Finances","startTime":1401.856,"endTime":1406.296,"body":"Am I really putting my best self"},{"speaker":"Average Joe Finances","startTime":1401.856,"endTime":1406.296,"body":"forward in what I'm doing today?"},{"speaker":"Average Joe Finances","startTime":1406.296,"endTime":1409.466,"body":"And I like what you were talking about"},{"speaker":"Average Joe Finances","startTime":1406.296,"endTime":1409.466,"body":"with, when you're on your own, right?"},{"speaker":"Average Joe Finances","startTime":1409.586,"endTime":1412.316,"body":"If you sit there and you say, I'm"},{"speaker":"Average Joe Finances","startTime":1409.586,"endTime":1412.316,"body":"just gonna take half the day and go"},{"speaker":"Average Joe Finances","startTime":1412.321,"endTime":1416.946,"body":"watch TV or whatever how much that"},{"speaker":"Average Joe Finances","startTime":1412.321,"endTime":1416.946,"body":"can really affect what you're doing."},{"speaker":"Average Joe Finances","startTime":1417.256,"endTime":1419.746,"body":"If you're on a roll and everything"},{"speaker":"Average Joe Finances","startTime":1417.256,"endTime":1419.746,"body":"and things are going great, sure"},{"speaker":"Average Joe Finances","startTime":1419.746,"endTime":1422.206,"body":"you, you might have time to sit"},{"speaker":"Average Joe Finances","startTime":1419.746,"endTime":1422.206,"body":"there and take half a day off."},{"speaker":"Average Joe Finances","startTime":1422.211,"endTime":1425.086,"body":"But honestly, when you're on your own,"},{"speaker":"Average Joe Finances","startTime":1422.211,"endTime":1425.086,"body":"when you take that off time, there's"},{"speaker":"Average Joe Finances","startTime":1425.266,"endTime":1426.796,"body":"nobody else working for you, right?"},{"speaker":"Average Joe Finances","startTime":1426.796,"endTime":1430.846,"body":"There's no one else doing what you"},{"speaker":"Average Joe Finances","startTime":1426.796,"endTime":1430.846,"body":"can do for yourself better than you."},{"speaker":"Average Joe Finances","startTime":1431.481,"endTime":1433.246,"body":"So I think, yeah that's awesome man."},{"speaker":"Average Joe Finances","startTime":1433.246,"endTime":1434.476,"body":"I really appreciate that answer."},{"speaker":"Average Joe Finances","startTime":1434.896,"endTime":1435.046,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1435.646,"endTime":1439.966,"body":"I definitely would like to transition"},{"speaker":"Average Joe Finances","startTime":1435.646,"endTime":1439.966,"body":"this into what I call now the final round."},{"speaker":"Average Joe Finances","startTime":1439.966,"endTime":1441.226,"body":"I know you have a hard stop soon."},{"speaker":"Average Joe Finances","startTime":1441.226,"endTime":1443.886,"body":"I wanna make sure I can get"},{"speaker":"Average Joe Finances","startTime":1441.226,"endTime":1443.886,"body":"you to where you gotta be next."},{"speaker":"Average Joe Finances","startTime":1444.236,"endTime":1447.996,"body":"But in this portion of the podcast, I'm"},{"speaker":"Average Joe Finances","startTime":1444.236,"endTime":1447.996,"body":"gonna ask you the same four questions"},{"speaker":"Average Joe Finances","startTime":1447.996,"endTime":1449.646,"body":"I ask everybody that comes on the show."},{"speaker":"Average Joe Finances","startTime":1449.916,"endTime":1454.816,"body":"It helps us get into the mind of"},{"speaker":"Average Joe Finances","startTime":1449.916,"endTime":1454.816,"body":"Alex Olson when he's under pressure"},{"speaker":"Average Joe Finances","startTime":1454.816,"endTime":1457.216,"body":"and having to deal with some"},{"speaker":"Average Joe Finances","startTime":1454.816,"endTime":1457.216,"body":"pretty tough things, which I know."},{"speaker":"Average Joe Finances","startTime":1457.951,"endTime":1458.851,"body":"Doing what you do."},{"speaker":"Average Joe Finances","startTime":1458.851,"endTime":1462.121,"body":"You've had some, you've been put in"},{"speaker":"Average Joe Finances","startTime":1458.851,"endTime":1462.121,"body":"tough situations, so I'm pretty excited"},{"speaker":"Average Joe Finances","startTime":1462.121,"endTime":1463.971,"body":"to to see where the, where this goes."},{"speaker":"Average Joe Finances","startTime":1464.021,"endTime":1465.431,"body":"So if you're ready, we'll"},{"speaker":"Average Joe Finances","startTime":1464.021,"endTime":1465.431,"body":"get this party started."},{"speaker":"Alex Olsen","startTime":1466.121,"endTime":1466.481,"body":"Let's do it."},{"speaker":"Average Joe Finances","startTime":1467.171,"endTime":1467.861,"body":"Let's do it."},{"speaker":"Average Joe Finances","startTime":1468.101,"endTime":1469.001,"body":"All right, Alex."},{"speaker":"Average Joe Finances","startTime":1469.871,"endTime":1470.231,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1470.621,"endTime":1474.731,"body":"Throughout your time, I'm sure you've"},{"speaker":"Average Joe Finances","startTime":1470.621,"endTime":1474.731,"body":"had plenty, but I would like to know"},{"speaker":"Average Joe Finances","startTime":1475.341,"endTime":1478.931,"body":"what you believe is the biggest mistake"},{"speaker":"Average Joe Finances","startTime":1475.341,"endTime":1478.931,"body":"you've ever made in real estate?"},{"speaker":"Alex Olsen","startTime":1481.451,"endTime":1486.911,"body":"Biggest mistake in real estate"},{"speaker":"Alex Olsen","startTime":1481.451,"endTime":1486.911,"body":"was all related to the Airbnb world."},{"speaker":"Alex Olsen","startTime":1487.661,"endTime":1488.051,"body":"Okay?"},{"speaker":"Alex Olsen","startTime":1488.111,"endTime":1491.051,"body":"When I talked about the beginning,"},{"speaker":"Alex Olsen","startTime":1488.111,"endTime":1491.051,"body":"I bought four Airbnb houses."},{"speaker":"Alex Olsen","startTime":1491.531,"endTime":1492.991,"body":"They were all very large houses."},{"speaker":"Alex Olsen","startTime":1494.106,"endTime":1495.941,"body":"They took a lot of money to furnish."},{"speaker":"Alex Olsen","startTime":1496.611,"endTime":1498.796,"body":"They took a lot of effort to manage."},{"speaker":"Alex Olsen","startTime":1499.616,"endTime":1502.046,"body":"You don't think about, okay,"},{"speaker":"Alex Olsen","startTime":1499.616,"endTime":1502.046,"body":"yeah, I'll furnish this place"},{"speaker":"Alex Olsen","startTime":1502.046,"endTime":1503.156,"body":"and, I'll buy all this furniture."},{"speaker":"Alex Olsen","startTime":1503.161,"endTime":1503.906,"body":"It'll last forever."},{"speaker":"Alex Olsen","startTime":1503.911,"endTime":1505.971,"body":"A couch doesn't last forever"},{"speaker":"Alex Olsen","startTime":1503.911,"endTime":1505.971,"body":"when it just doesn't."},{"speaker":"Alex Olsen","startTime":1507.091,"endTime":1509.251,"body":"So then instead of, you"},{"speaker":"Alex Olsen","startTime":1507.091,"endTime":1509.251,"body":"buy a $500 couch, boo."},{"speaker":"Alex Olsen","startTime":1509.311,"endTime":1509.651,"body":"Now that broke."},{"speaker":"Alex Olsen","startTime":1509.921,"endTime":1513.221,"body":"Instantly you got another"},{"speaker":"Alex Olsen","startTime":1509.921,"endTime":1513.221,"body":"$500, you gotta spend Airbnb."},{"speaker":"Alex Olsen","startTime":1513.311,"endTime":1515.861,"body":"I'm sure they might cover it"},{"speaker":"Alex Olsen","startTime":1513.311,"endTime":1515.861,"body":"sometimes, but usually don't."},{"speaker":"Alex Olsen","startTime":1516.401,"endTime":1522.896,"body":"And the reason why I made that mistake,"},{"speaker":"Alex Olsen","startTime":1516.401,"endTime":1522.896,"body":"Was because I was pushing myself thinking"},{"speaker":"Alex Olsen","startTime":1522.896,"endTime":1526.386,"body":"that, hey look this is gonna get me"},{"speaker":"Alex Olsen","startTime":1522.896,"endTime":1526.386,"body":"outta my corporate job cuz remember"},{"speaker":"Alex Olsen","startTime":1526.386,"endTime":1531.546,"body":"that was before I had transitioned out"},{"speaker":"Alex Olsen","startTime":1526.386,"endTime":1531.546,"body":"of my corporate job into real estate."},{"speaker":"Alex Olsen","startTime":1532.146,"endTime":1534.306,"body":"I was like, man, please, I"},{"speaker":"Alex Olsen","startTime":1532.146,"endTime":1534.306,"body":"need something that's gonna get"},{"speaker":"Alex Olsen","startTime":1534.306,"endTime":1535.236,"body":"me outta this corporate job."},{"speaker":"Alex Olsen","startTime":1535.266,"endTime":1536.916,"body":"Oh, here there's an Airbnb thing."},{"speaker":"Alex Olsen","startTime":1537.246,"endTime":1540.446,"body":"Oh my gosh, everybody's gonna love"},{"speaker":"Alex Olsen","startTime":1537.246,"endTime":1540.446,"body":"these locations and houses and what"},{"speaker":"Alex Olsen","startTime":1540.451,"endTime":1542.126,"body":"can go wrong, the pandemic hit."},{"speaker":"Alex Olsen","startTime":1542.706,"endTime":1546.666,"body":"And so I put a lot of eggs in that"},{"speaker":"Alex Olsen","startTime":1542.706,"endTime":1546.666,"body":"basket and a lot of money in that"},{"speaker":"Alex Olsen","startTime":1546.666,"endTime":1550.026,"body":"basket, and I relied too much."},{"speaker":"Alex Olsen","startTime":1550.056,"endTime":1553.366,"body":"I mean, Location's, everything,"},{"speaker":"Alex Olsen","startTime":1550.056,"endTime":1553.366,"body":"don't get me wrong, but."},{"speaker":"Alex Olsen","startTime":1554.551,"endTime":1559.321,"body":"I relied too much on the location"},{"speaker":"Alex Olsen","startTime":1554.551,"endTime":1559.321,"body":"aspect of those properties."},{"speaker":"Alex Olsen","startTime":1559.321,"endTime":1562.641,"body":"And an advisor at the time was like, Hey,"},{"speaker":"Alex Olsen","startTime":1559.321,"endTime":1562.641,"body":"yeah, everybody, Airbnb's gonna kill it."},{"speaker":"Alex Olsen","startTime":1562.641,"endTime":1564.621,"body":"So I got oversold."},{"speaker":"Alex Olsen","startTime":1564.921,"endTime":1568.221,"body":"I got oversold really on my emotions"},{"speaker":"Alex Olsen","startTime":1564.921,"endTime":1568.221,"body":"of getting out of corporate world."},{"speaker":"Alex Olsen","startTime":1568.681,"endTime":1569.342,"body":"And so then that."},{"speaker":"Alex Olsen","startTime":1570.106,"endTime":1575.206,"body":"Made me buy all these properties and buy"},{"speaker":"Alex Olsen","startTime":1570.106,"endTime":1575.206,"body":"all these, furnitures and furnishings and"},{"speaker":"Alex Olsen","startTime":1575.206,"endTime":1579.556,"body":"look a amazing, and at the end of the day"},{"speaker":"Alex Olsen","startTime":1575.206,"endTime":1579.556,"body":"it really didn't get me any further than"},{"speaker":"Alex Olsen","startTime":1579.826,"endTime":1581.566,"body":"it actually took me back a long ways."},{"speaker":"Average Joe Finances","startTime":1583.141,"endTime":1583.471,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":1583.531,"endTime":1587.006,"body":"Yeah I appreciate your transparency"},{"speaker":"Average Joe Finances","startTime":1583.531,"endTime":1587.006,"body":"there because a lot of times that's"},{"speaker":"Average Joe Finances","startTime":1587.006,"endTime":1589.016,"body":"not stuff that's easy to talk about."},{"speaker":"Average Joe Finances","startTime":1589.016,"endTime":1592.861,"body":"And I feel like a lot of us have been in"},{"speaker":"Average Joe Finances","startTime":1589.016,"endTime":1592.861,"body":"situations like that where we feel like,"},{"speaker":"Average Joe Finances","startTime":1592.861,"endTime":1594.361,"body":"we put all of our eggs in one basket."},{"speaker":"Average Joe Finances","startTime":1594.811,"endTime":1597.541,"body":"And what really sucks about that"},{"speaker":"Average Joe Finances","startTime":1594.811,"endTime":1597.541,"body":"is when you drop the basket,"},{"speaker":"Average Joe Finances","startTime":1598.021,"endTime":1599.391,"body":"most or all of the eggs break."},{"speaker":"Average Joe Finances","startTime":1599.971,"endTime":1602.881,"body":"So it's you put yourself"},{"speaker":"Average Joe Finances","startTime":1599.971,"endTime":1602.881,"body":"in a tough situation, so"},{"speaker":"Average Joe Finances","startTime":1603.121,"endTime":1604.351,"body":"definitely appreciate that, man."},{"speaker":"Average Joe Finances","startTime":1604.811,"endTime":1607.761,"body":"All right, Alex, so the next question"},{"speaker":"Average Joe Finances","startTime":1604.811,"endTime":1607.761,"body":"these all kind of tie into each other,"},{"speaker":"Average Joe Finances","startTime":1607.761,"endTime":1608.926,"body":"so you'll see how this is going."},{"speaker":"Average Joe Finances","startTime":1609.266,"endTime":1612.806,"body":"But what is something that you've"},{"speaker":"Average Joe Finances","startTime":1609.266,"endTime":1612.806,"body":"learned that you wish you knew"},{"speaker":"Average Joe Finances","startTime":1612.806,"endTime":1613.826,"body":"when you first got started?"},{"speaker":"Alex Olsen","startTime":1615.706,"endTime":1618.226,"body":"So one of the things, yeah,"},{"speaker":"Alex Olsen","startTime":1615.706,"endTime":1618.226,"body":"that's a great question because when"},{"speaker":"Alex Olsen","startTime":1618.226,"endTime":1623.036,"body":"I first got started in real estate,"},{"speaker":"Alex Olsen","startTime":1618.226,"endTime":1623.036,"body":"I thought, I wanted to come into a"},{"speaker":"Alex Olsen","startTime":1623.036,"endTime":1627.846,"body":"property when I bought a property where,"},{"speaker":"Alex Olsen","startTime":1623.036,"endTime":1627.846,"body":"I was just gonna use my own money."},{"speaker":"Alex Olsen","startTime":1627.846,"endTime":1632.906,"body":"So I wanted as little a loan as"},{"speaker":"Alex Olsen","startTime":1627.846,"endTime":1632.906,"body":"possible on it in terms of, there's no"},{"speaker":"Alex Olsen","startTime":1632.906,"endTime":1634.976,"body":"repairs need, this property's perfect."},{"speaker":"Alex Olsen","startTime":1635.276,"endTime":1638.186,"body":"Any repairs that are needed, I'll"},{"speaker":"Alex Olsen","startTime":1635.276,"endTime":1638.186,"body":"just, pay for it outta my own pocket."},{"speaker":"Alex Olsen","startTime":1638.831,"endTime":1640.181,"body":"That was my mistake."},{"speaker":"Alex Olsen","startTime":1640.181,"endTime":1644.231,"body":"Going into it, buying it, I don't wanna"},{"speaker":"Alex Olsen","startTime":1640.181,"endTime":1644.231,"body":"say as is, but buying it, that the"},{"speaker":"Alex Olsen","startTime":1644.231,"endTime":1645.761,"body":"property is working and performing."},{"speaker":"Alex Olsen","startTime":1646.541,"endTime":1651.371,"body":"So now every single person that comes"},{"speaker":"Alex Olsen","startTime":1646.541,"endTime":1651.371,"body":"to us, I say, Hey look, we need to find."},{"speaker":"Alex Olsen","startTime":1652.046,"endTime":1654.056,"body":"A value add component to this?"},{"speaker":"Alex Olsen","startTime":1654.596,"endTime":1657.806,"body":"So this particular property, yeah, I"},{"speaker":"Alex Olsen","startTime":1654.596,"endTime":1657.806,"body":"mean it looks pretty good, it's got"},{"speaker":"Alex Olsen","startTime":1657.806,"endTime":1659.816,"body":"two very old air conditioner units."},{"speaker":"Alex Olsen","startTime":1660.206,"endTime":1661.646,"body":"The outside needs to be cited."},{"speaker":"Alex Olsen","startTime":1661.646,"endTime":1666.296,"body":"Let's go to the bank and get what's called"},{"speaker":"Alex Olsen","startTime":1661.646,"endTime":1666.296,"body":"a rehab loan as part of that acquisition."},{"speaker":"Alex Olsen","startTime":1666.776,"endTime":1670.656,"body":"And oh, by the way, we can do an as"},{"speaker":"Alex Olsen","startTime":1666.776,"endTime":1670.656,"body":"completed appraisal so that way it."},{"speaker":"Alex Olsen","startTime":1671.276,"endTime":1674.006,"body":"It all pencils out from"},{"speaker":"Alex Olsen","startTime":1671.276,"endTime":1674.006,"body":"a financing standpoint."},{"speaker":"Alex Olsen","startTime":1674.576,"endTime":1679.196,"body":"So if I would've known that, I would've"},{"speaker":"Alex Olsen","startTime":1674.576,"endTime":1679.196,"body":"had, I would've accelerated a lot of my"},{"speaker":"Alex Olsen","startTime":1679.196,"endTime":1682.666,"body":"properties, would've been a lot nicer,"},{"speaker":"Alex Olsen","startTime":1679.196,"endTime":1682.666,"body":"a lot faster, and a lot higher rent."},{"speaker":"Alex Olsen","startTime":1682.666,"endTime":1683.836,"body":"That would've been really nice to know."},{"speaker":"Average Joe Finances","startTime":1685.126,"endTime":1686.326,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1686.876,"endTime":1691.746,"body":"Again these are the things, we learn"},{"speaker":"Average Joe Finances","startTime":1686.876,"endTime":1691.746,"body":"as we go and part of that piece that"},{"speaker":"Average Joe Finances","startTime":1691.746,"endTime":1693.726,"body":"makes you better at your craft, right?"},{"speaker":"Average Joe Finances","startTime":1694.066,"endTime":1695.536,"body":"It's the education that comes from that."},{"speaker":"Average Joe Finances","startTime":1696.226,"endTime":1697.487,"body":"Yeah, definitely appreciate that, Alex."},{"speaker":"Alex Olsen","startTime":1697.566,"endTime":1699.876,"body":"I would've never known"},{"speaker":"Alex Olsen","startTime":1697.566,"endTime":1699.876,"body":"that and now I'm really happy I did."},{"speaker":"Alex Olsen","startTime":1699.996,"endTime":1703.296,"body":"I'm really happy I learned that"},{"speaker":"Alex Olsen","startTime":1699.996,"endTime":1703.296,"body":"because it's like an extra exclamation"},{"speaker":"Alex Olsen","startTime":1703.296,"endTime":1704.746,"body":"point when I'm working with buyers."},{"speaker":"Alex Olsen","startTime":1705.066,"endTime":1708.041,"body":"Say hey, look, let's make sure we get"},{"speaker":"Alex Olsen","startTime":1705.066,"endTime":1708.041,"body":"a rehab loan as part of this deal."},{"speaker":"Average Joe Finances","startTime":1709.341,"endTime":1710.366,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1711.236,"endTime":1712.106,"body":"All right, cool."},{"speaker":"Average Joe Finances","startTime":1712.111,"endTime":1715.666,"body":"Hey, that and again, that's something that"},{"speaker":"Average Joe Finances","startTime":1712.111,"endTime":1715.666,"body":"you learn over time, for those that are"},{"speaker":"Average Joe Finances","startTime":1715.666,"endTime":1719.386,"body":"listening right now they're getting this"},{"speaker":"Average Joe Finances","startTime":1715.666,"endTime":1719.386,"body":"information for free, which is fantastic."},{"speaker":"Alex Olsen","startTime":1719.716,"endTime":1719.896,"body":"Great."},{"speaker":"Average Joe Finances","startTime":1720.526,"endTime":1722.566,"body":"All right,"},{"speaker":"Average Joe Finances","startTime":1720.526,"endTime":1722.566,"body":"Alex, so the next question, and this"},{"speaker":"Average Joe Finances","startTime":1722.566,"endTime":1724.506,"body":"also has to do with newbies, right?"},{"speaker":"Average Joe Finances","startTime":1724.506,"endTime":1727.836,"body":"So do you have any tips or tricks that"},{"speaker":"Average Joe Finances","startTime":1724.506,"endTime":1727.836,"body":"you would recommend to someone that"},{"speaker":"Average Joe Finances","startTime":1727.836,"endTime":1729.216,"body":"is just getting started out today?"},{"speaker":"Alex Olsen","startTime":1730.716,"endTime":1733.866,"body":"If you're starting today"},{"speaker":"Alex Olsen","startTime":1730.716,"endTime":1733.866,"body":"in real estate and you live in a"},{"speaker":"Alex Olsen","startTime":1734.076,"endTime":1738.426,"body":"somewhat of a cash flow market,"},{"speaker":"Alex Olsen","startTime":1734.076,"endTime":1738.426,"body":"actually even not really just anywhere."},{"speaker":"Alex Olsen","startTime":1739.056,"endTime":1743.676,"body":"The best advice I can give to"},{"speaker":"Alex Olsen","startTime":1739.056,"endTime":1743.676,"body":"you is to buy a fourplex, okay?"},{"speaker":"Alex Olsen","startTime":1744.126,"endTime":1745.166,"body":"Live in one of the units."},{"speaker":"Alex Olsen","startTime":1746.436,"endTime":1751.476,"body":"Rent out the other three units, and if"},{"speaker":"Alex Olsen","startTime":1746.436,"endTime":1751.476,"body":"you're single, rent out the other bedrooms"},{"speaker":"Alex Olsen","startTime":1751.476,"endTime":1756.246,"body":"in your unit and you would have a cash"},{"speaker":"Alex Olsen","startTime":1751.476,"endTime":1756.246,"body":"flowing machine because you're getting"},{"speaker":"Alex Olsen","startTime":1756.396,"endTime":1758.646,"body":"that property for very little money down."},{"speaker":"Alex Olsen","startTime":1758.716,"endTime":1763.906,"body":"Maybe 3%, three and a half, 4%, and"},{"speaker":"Alex Olsen","startTime":1758.716,"endTime":1763.906,"body":"that whole entire property just has so"},{"speaker":"Alex Olsen","startTime":1763.906,"endTime":1768.796,"body":"much income coming in on it's gonna pay"},{"speaker":"Alex Olsen","startTime":1763.906,"endTime":1768.796,"body":"for, of course, a mortgage, your rent."},{"speaker":"Alex Olsen","startTime":1768.796,"endTime":1772.366,"body":"You're gonna have so much equity"},{"speaker":"Alex Olsen","startTime":1768.796,"endTime":1772.366,"body":"built into that property that"},{"speaker":"Alex Olsen","startTime":1772.366,"endTime":1773.826,"body":"your wealth building journey."},{"speaker":"Alex Olsen","startTime":1774.721,"endTime":1779.671,"body":"Which is, really kind at the end of the"},{"speaker":"Alex Olsen","startTime":1774.721,"endTime":1779.671,"body":"day, retirement is going to be well ahead"},{"speaker":"Alex Olsen","startTime":1779.671,"endTime":1783.501,"body":"of anybody else and would've been well"},{"speaker":"Alex Olsen","startTime":1779.671,"endTime":1783.501,"body":"ahead of me at that time of just buying"},{"speaker":"Alex Olsen","startTime":1783.501,"endTime":1787.936,"body":"that fourplex, getting the first time"},{"speaker":"Alex Olsen","startTime":1783.501,"endTime":1787.936,"body":"home buyer or the FHA kind of loan on"},{"speaker":"Alex Olsen","startTime":1787.936,"endTime":1793.186,"body":"the fourplex, renting out all the units"},{"speaker":"Alex Olsen","startTime":1787.936,"endTime":1793.186,"body":"and continuing to do that until you can"},{"speaker":"Alex Olsen","startTime":1793.186,"endTime":1794.446,"body":"no longer stand having your roommates."},{"speaker":"Average Joe Finances","startTime":1796.216,"endTime":1797.476,"body":"Yeah, that, that might."},{"speaker":"Average Joe Finances","startTime":1798.041,"endTime":1801.571,"body":"Put a fire under you too if you can"},{"speaker":"Average Joe Finances","startTime":1798.041,"endTime":1801.571,"body":"no longer stand them anyway, okay."},{"speaker":"Average Joe Finances","startTime":1801.571,"endTime":1802.381,"body":"Appreciate that."},{"speaker":"Average Joe Finances","startTime":1803.071,"endTime":1808.021,"body":"All right, Alex, the final question of"},{"speaker":"Average Joe Finances","startTime":1803.071,"endTime":1808.021,"body":"the final round is, and this is just"},{"speaker":"Average Joe Finances","startTime":1808.021,"endTime":1809.311,"body":"an opinion based one, it's an easy one."},{"speaker":"Average Joe Finances","startTime":1809.711,"endTime":1813.011,"body":"Do you have a favorite business"},{"speaker":"Average Joe Finances","startTime":1809.711,"endTime":1813.011,"body":"investing or real estate"},{"speaker":"Average Joe Finances","startTime":1813.011,"endTime":1815.741,"body":"related book or podcast or both?"},{"speaker":"Alex Olsen","startTime":1817.496,"endTime":1822.056,"body":"I have a book that I often"},{"speaker":"Alex Olsen","startTime":1817.496,"endTime":1822.056,"body":"recommend and I have a very particular"},{"speaker":"Alex Olsen","startTime":1822.056,"endTime":1825.236,"body":"reason why I recommended, not just"},{"speaker":"Alex Olsen","startTime":1822.056,"endTime":1825.236,"body":"because it's an entertaining book,"},{"speaker":"Alex Olsen","startTime":1825.986,"endTime":1829.346,"body":"because anybody can write, I'll tell"},{"speaker":"Alex Olsen","startTime":1825.986,"endTime":1829.346,"body":"you the name of it here in a second."},{"speaker":"Alex Olsen","startTime":1829.346,"endTime":1833.376,"body":"Anybody can write a book and tell you all"},{"speaker":"Alex Olsen","startTime":1829.346,"endTime":1833.376,"body":"these great things that you need to do."},{"speaker":"Alex Olsen","startTime":1833.376,"endTime":1835.856,"body":"But I learned best by real examples."},{"speaker":"Alex Olsen","startTime":1836.396,"endTime":1841.536,"body":"And so my favorite book is, Am"},{"speaker":"Alex Olsen","startTime":1836.396,"endTime":1841.536,"body":"I Being Too Subtle by Sam Zell?"},{"speaker":"Alex Olsen","startTime":1842.286,"endTime":1844.336,"body":"And It's a real life account."},{"speaker":"Alex Olsen","startTime":1844.336,"endTime":1846.616,"body":"Sam Zell's, a billionaire"},{"speaker":"Alex Olsen","startTime":1844.336,"endTime":1846.616,"body":"real estate investor."},{"speaker":"Alex Olsen","startTime":1846.826,"endTime":1850.216,"body":"He essentially invented REIT's,"},{"speaker":"Alex Olsen","startTime":1846.826,"endTime":1850.216,"body":"real estate investing trusts."},{"speaker":"Alex Olsen","startTime":1850.606,"endTime":1854.066,"body":"And so he goes through his life journey"},{"speaker":"Alex Olsen","startTime":1850.606,"endTime":1854.066,"body":"and there's, of course learning lessons"},{"speaker":"Alex Olsen","startTime":1854.066,"endTime":1858.926,"body":"in there, life lessons, all that kind of"},{"speaker":"Alex Olsen","startTime":1854.066,"endTime":1858.926,"body":"good stuff, but it's his real experience."},{"speaker":"Alex Olsen","startTime":1859.471,"endTime":1862.681,"body":"That was, he's not just some"},{"speaker":"Alex Olsen","startTime":1859.471,"endTime":1862.681,"body":"schmuck that says he's rich."},{"speaker":"Alex Olsen","startTime":1862.681,"endTime":1865.711,"body":"He rarely, this is the only"},{"speaker":"Alex Olsen","startTime":1862.681,"endTime":1865.711,"body":"book I think he's written."},{"speaker":"Alex Olsen","startTime":1866.221,"endTime":1870.071,"body":"And so he likes to go out"},{"speaker":"Alex Olsen","startTime":1866.221,"endTime":1870.071,"body":"there and tout his experiences."},{"speaker":"Alex Olsen","startTime":1870.551,"endTime":1873.071,"body":"And it's just a really good book."},{"speaker":"Alex Olsen","startTime":1873.071,"endTime":1875.801,"body":"If you go through there, you can"},{"speaker":"Alex Olsen","startTime":1873.071,"endTime":1875.801,"body":"see all of the ways and the methods"},{"speaker":"Alex Olsen","startTime":1876.261,"endTime":1880.481,"body":"to invest in real estate, and you"},{"speaker":"Alex Olsen","startTime":1876.261,"endTime":1880.481,"body":"also get a real experience in that."},{"speaker":"Average Joe Finances","startTime":1881.646,"endTime":1882.186,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1882.216,"endTime":1883.956,"body":"I definitely appreciate"},{"speaker":"Average Joe Finances","startTime":1882.216,"endTime":1883.956,"body":"that recommendation."},{"speaker":"Average Joe Finances","startTime":1883.956,"endTime":1885.096,"body":"I wrote that one down."},{"speaker":"Average Joe Finances","startTime":1885.406,"endTime":1886.756,"body":"That is not one I had on my list."},{"speaker":"Average Joe Finances","startTime":1886.816,"endTime":1887.956,"body":"So yeah, I appreciate that."},{"speaker":"Alex Olsen","startTime":1888.586,"endTime":1889.246,"body":"Yeah, it's a great one."},{"speaker":"Average Joe Finances","startTime":1889.936,"endTime":1893.296,"body":"Alex, this is, this"},{"speaker":"Average Joe Finances","startTime":1889.936,"endTime":1893.296,"body":"has been fantastic, but I do have one more"},{"speaker":"Average Joe Finances","startTime":1893.296,"endTime":1896.236,"body":"question for you, and this is actually"},{"speaker":"Average Joe Finances","startTime":1893.296,"endTime":1896.236,"body":"the most important question of all."},{"speaker":"Average Joe Finances","startTime":1896.241,"endTime":1896.486,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1897.256,"endTime":1900.936,"body":"So for those that have been listening"},{"speaker":"Average Joe Finances","startTime":1897.256,"endTime":1900.936,"body":"to this so far, and thinking to"},{"speaker":"Average Joe Finances","startTime":1900.936,"endTime":1904.866,"body":"themselves, man, I wanna learn more"},{"speaker":"Average Joe Finances","startTime":1900.936,"endTime":1904.866,"body":"about the 1031 exchange, or I wanna"},{"speaker":"Average Joe Finances","startTime":1904.866,"endTime":1907.386,"body":"learn more about the Kansas City market."},{"speaker":"Average Joe Finances","startTime":1907.656,"endTime":1910.306,"body":"Or, Hey, I wanna know"},{"speaker":"Average Joe Finances","startTime":1907.656,"endTime":1910.306,"body":"more about Alex Olson."},{"speaker":"Average Joe Finances","startTime":1910.716,"endTime":1914.556,"body":"Where can people find more information"},{"speaker":"Average Joe Finances","startTime":1910.716,"endTime":1914.556,"body":"about you and what you offer?"},{"speaker":"Average Joe Finances","startTime":1914.746,"endTime":1916.876,"body":"Do you have a website you could"},{"speaker":"Average Joe Finances","startTime":1914.746,"endTime":1916.876,"body":"share with us, social media"},{"speaker":"Average Joe Finances","startTime":1916.881,"endTime":1917.536,"body":"accounts, anything like that?"},{"speaker":"Alex Olsen","startTime":1918.451,"endTime":1922.531,"body":"Yeah, you can head"},{"speaker":"Alex Olsen","startTime":1918.451,"endTime":1922.531,"body":"over to my website Xchangecre.com."},{"speaker":"Alex Olsen","startTime":1922.551,"endTime":1923.271,"body":"That's with an X."},{"speaker":"Alex Olsen","startTime":1923.271,"endTime":1926.621,"body":"Like you can see this Big"},{"speaker":"Alex Olsen","startTime":1923.271,"endTime":1926.621,"body":"X back here Xchangecre.com."},{"speaker":"Alex Olsen","startTime":1926.641,"endTime":1930.291,"body":"Email me alex@xchangecre.com."},{"speaker":"Alex Olsen","startTime":1930.691,"endTime":1932.671,"body":"But of course, I'm all over LinkedIn."},{"speaker":"Alex Olsen","startTime":1932.676,"endTime":1937.511,"body":"I post, I don't know, three, four times"},{"speaker":"Alex Olsen","startTime":1932.676,"endTime":1937.511,"body":"a week on real estate investing, 1031"},{"speaker":"Alex Olsen","startTime":1937.531,"endTime":1939.511,"body":"exchanges, the Kansas City market."},{"speaker":"Alex Olsen","startTime":1939.881,"endTime":1942.081,"body":"You can find me in my picture, Alex Olson."},{"speaker":"Alex Olsen","startTime":1942.131,"endTime":1946.391,"body":"So I love talking real estate and"},{"speaker":"Alex Olsen","startTime":1942.131,"endTime":1946.391,"body":"the Kansas City market for sure."},{"speaker":"Average Joe Finances","startTime":1947.681,"endTime":1948.146,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1948.146,"endTime":1949.196,"body":"Thank you so much for that."},{"speaker":"Average Joe Finances","startTime":1949.196,"endTime":1952.886,"body":"So Alex, we are going to have all"},{"speaker":"Average Joe Finances","startTime":1949.196,"endTime":1952.886,"body":"those links in the show notes to"},{"speaker":"Average Joe Finances","startTime":1952.886,"endTime":1954.536,"body":"make it easy for people to find you."},{"speaker":"Average Joe Finances","startTime":1954.846,"endTime":1957.661,"body":"So if you're listening, you can"},{"speaker":"Average Joe Finances","startTime":1954.846,"endTime":1957.661,"body":"copy and paste or click away."},{"speaker":"Average Joe Finances","startTime":1957.661,"endTime":1959.011,"body":"Just don't do it while you're driving."},{"speaker":"Average Joe Finances","startTime":1959.011,"endTime":1960.571,"body":"I always put that disclaimer out there."},{"speaker":"Average Joe Finances","startTime":1961.091,"endTime":1963.431,"body":"But Alex, this has been a real treat man."},{"speaker":"Average Joe Finances","startTime":1963.431,"endTime":1967.481,"body":"Thank you so much for taking the time"},{"speaker":"Average Joe Finances","startTime":1963.431,"endTime":1967.481,"body":"to come on chat with me today and"},{"speaker":"Average Joe Finances","startTime":1967.481,"endTime":1970.001,"body":"provide so much value to my audience."},{"speaker":"Average Joe Finances","startTime":1970.001,"endTime":1971.261,"body":"I genuinely appreciate it."},{"speaker":"Alex Olsen","startTime":1971.951,"endTime":1972.521,"body":"I love it, man."},{"speaker":"Alex Olsen","startTime":1972.521,"endTime":1973.271,"body":"It's great to talk to you."},{"speaker":"Average Joe Finances","startTime":1973.721,"endTime":1974.471,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1974.471,"endTime":1978.131,"body":"Thank you so much and hey, to my"},{"speaker":"Average Joe Finances","startTime":1974.471,"endTime":1978.131,"body":"listeners, I want to thank all"},{"speaker":"Average Joe Finances","startTime":1978.131,"endTime":1981.911,"body":"of you for joining me and our"},{"speaker":"Average Joe Finances","startTime":1978.131,"endTime":1981.911,"body":"special guest, Alex Olson on the"},{"speaker":"Average Joe Finances","startTime":1981.911,"endTime":1983.861,"body":"Average Joe Finances podcast today."},{"speaker":"Average Joe Finances","startTime":1984.311,"endTime":1987.251,"body":"Go leave us a five star review"},{"speaker":"Average Joe Finances","startTime":1984.311,"endTime":1987.251,"body":"and tell us what you liked"},{"speaker":"Average Joe Finances","startTime":1987.251,"endTime":1989.801,"body":"about today's episode with Alex."},{"speaker":"Average Joe Finances","startTime":1990.011,"endTime":1992.592,"body":"Aloha from Hawaii and have"},{"speaker":"Average Joe Finances","startTime":1990.011,"endTime":1992.592,"body":"a great rest of your day."}]}