So the big question is this how are real estate investors who don't have a ton of free time, don't have access to off-market deals and didn't start life on third base, how do we grow a real estate business conservatively to support our families, finally leave the corporate rat race and build a legacy? That is the question, and this podcast will give you the answers. I'm Ed Mathews and this is Real Estate Underground.
Ed MathewsThis is the Real Estate Underground Podcast Show number 72. Greetings and salutations, real Estate Undergrounders. It's your old friend Ed Mathews, again with the Real Estate Underground Podcast. Today's show is really interesting because this is an asset class that I have been fascinated by, and for a lot of different reasons, which we'll get into, but I've been fortunate enough to talk my new friend, dylan Stewart of Relational Capital, to join us on the show today to tell us anything and everything about mobile home parks and the asset class. So, dylan, welcome to the show. Thank you so much for your time today And I can't wait. I can't wait to find out more about this. This is cool.
Dylan StewartYeah, me as well, ed, excited to be with you and your listeners and kind of get another hood of this business.
Ed MathewsSo let's talk about you first. In terms of your background and experience. I know you've been a Real Estate Investor for quite some time through several different asset classes, if I'm not mistaken And so how did you get to this point and what really drew you into the mobile home park as a target class?
Dylan StewartYeah, yeah, great question. So just to start out with where I'm at now and kind of rewind, so at the time of this recording, i'm 23 years old, based out of Tacoma, washington. My team and I we own 500 plus mobile home and RV lots across three different states Texas, ohio and Minnesota And really just kind of in a consolidation phase, trying to keep our portfolio growing within three to four hours of Dallas, fort Worth. And so the long I've been full time in Real Estate since directly out of high school. Throughout high school and prior was always into some sort of business or entrepreneurship and being younger and having social media. You see people always marketing a course or program, and so I've done and tried door to door sales, network marketing, some online coaching, and my main bread and butter throughout high school was a landscaping business And so I was just running it myself out of my truck And right before I graduated high school in 2017, there was a Tony Robbins event here, local in my town, and went to that event and they upsold a Real Estate course And so went to their three day workshop And right at the beginning they're like Hey, you know, we're going to upsell you by the end of this weekend on a 20, 30 and $40,000 course, but in the next three days we're going to teach as much as possible.
Dylan StewartI'm like, oh my goodness. And so by the end of that weekend I didn't have any money, right. You know, i was 17 years old by the time I graduated and, you know, had a little bit saved up but found someone to partner with, went forward with the course And, you know, after the end of that summer I started the course because that was my plan And after a month of doing that, it was outdated information, it wasn't applicable in 2017 and a smoking hot Seattle real estate market. So, of course, i went to YouTube University and, you know, started learning from podcasts and stuff like that. And after a month of doing that, i got my first deal and that was a joint venture with another investor doing a wholesale deal, a single family here in Washington, and then for the next probably just about a year was kind of on my own doing wholesale deals in Washington.
Dylan StewartMy prior partner and I met doing at a real estate networking event And then him and I partnered up and started doing some out of state investing 2018, 2019 in St Louis, and so we built up a full single family team of acquisitions, dispositions, boots on ground. We were doing, you know, did 30, 40 plus deals in that following year, all remote, with wholesaling for you, rent to owns. We did owner financing. And then the end of 2019, it was just God's good timing We were selling a single family deal and this guy responded to our text class said I'm not buying, but I have a small mobile home park we'd sell you. And we said cool, you know, we knew we wanted to get in some multi-family asset class. And so we got together some money with friends and family, bought that small park outside of St Louis And it was 22 lots total.
Dylan StewartAnd so by the beginning of 2020, we decided to take a step back from the transactional business of single family and said let's just focus on this small mobile home park here. We weren't making any money, we weren't making barely any cash flow, but we are learning the fundamentals of out of state management, operations, construction. And so we did that for a full year. And the beginning of 21, we decided to ramp it up And so I said we bought our first official park, which was a 42 space park outside of Toledo, ohio, in March of 21. And from there to the following 12 months, we went from 22 lots to over 500.
Dylan StewartAnd at that time it was across four different states and you know, ranging from 22 lots to 120 lot park, and then it was the middle of 2022. There's just no longer Lyman and values and vision with my partner And so I bought him out of seven of the nine parks that we had at that time. And then, since then, i bought two other parks in Texas and in the process of selling off some other parks out of state and just consolidating all of our efforts and really being single minded and focused on our market, on our skill set And you know I own two RV parks in addition to the mobile home parks And so, just you know, really continuing to learn. There's been so many bumps and bruises. All sounds like a highlight reel when you hear that, but a lot of bumps and bruises and learning lessons and mistakes.
Ed MathewsThat we definitely dive into, yeah, absolutely Get into this. Wow, what a ride. Congratulations, thank you. It's phenomenal. So so, relational capital All the love Great.
Dylan StewartYeah, you know, for me I love people, right, I say three things I love Jesus, I love people and I love real estate. And you know, when I look at relational capital, everything is based on relationships, right, How can I deposit into a relationship so that when I need to withdraw, that's already established, Whether if that's helping someone out with their mindset, with leadership, with their relationships or marriage, their faith or their business? And so relational capital is exactly that And that's, fortunately, was able to, you know, adopt that company. And you know it's about relationships, building relationships with people and seeing how we can be of value, whether if that's us doing a joint venture, if that's, you know, someone passively partnering into our deals, or many different ways. And so you know we run a very lean and mean team. I say we because I don't like to say I, but I'm the owner of the company, right, And so really our core focus right now run very lean and mean. I have an operations manager in Dallas and you know he oversees all eight of our parks right now And he runs with an assistant operations manager And that's really it on the operation side And then myself overseeing them, And then I have a transaction kind of wholesale manager to where she handles any of our acquisitions And then, if we have her wholesale property, your partner, someone on joint venture, the disposition of those as well.
Dylan StewartAnd I've just been very fortunate. You know I'm 23 and most of my team, my other team members, have always been in their fifties or sixties. You know. They've had, you know, decades of experience in the industry And really just yeah, Well, I think the reason I share that is is when you have a vision big enough and you have the energy, the excitement, the integrity and the intention, you can attract very high level talent. And so, at the end of the day, I want to continue to attract amazing team members and let them be superstars in their role And honestly kind of get out of their way. It's my job to kind of, I say, provide the river banks right, The river banks and let the river flow in between, and provide the vision and the leadership and the values and where we're going. And then let awesome, rockstar team members kind of run with the day to day and we course correct as needed. So that's kind of where we're at right now. Wow, that's fantastic.
Ed MathewsSo let's talk about your focus in mobile home parks. right, i think I have some preconceived notions on why it's an interesting class and it's a lucrative class, but I'm curious from your perspective, why mobile home specifically?
Yeah, to be honest, that I think because we picked it right I think that's the biggest thing is so many people are like, well, this guy is doing industrial and that guy is building storage facilities. And this guy is, oh my gosh, they're doing Airbnb's. Oh, my friend, they're having vans and they're renting them out on outdoorsy. And that person's doing wholesaling and what should you do? They're doing apartments and oh, that guy's got RV parks.
Dylan StewartAnd the reality is there's so many ways to make money in real estate, but you have to pick one, i think, niche, and become a master at it. And so the reality is we just fell into mobile home parks And once we adopted it, we continued, of course, to learn the nuances of it. But to any of your listeners that are kind of scatterbrained and scatter all over the place, so many people are focused on trying to make $100,000 a year and maybe 10 different businesses. Oh, the average millionaire has seven streams of income. But, yeah, how about the millionaire that you? they actually made their first million with one business and then they grew, and so, instead of having $100,000 a year and 10 different businesses starting out, you can go make $5 million plus a year in one business And you have that exponential outleveraged growth because you're single-minded, you're focused And to your listeners when I started growing, we were in Illinois, then we went to Ohio, then we went to Minnesota, then we went to Texas And there's kind of friction with that growing pain versus now.
Dylan StewartWe know where our market is, we know what we're buying, we have relationships with all the brokers, the lenders, the operators, the contractors, we know the city better and everything because we're so focused and it allows for us to move quicker. And then we have the economies of scale. And so that's just my encouragement to any of your listeners is find something and go deep in it until you're fully financially free, until you have the operational, the team running. Then you can branch out. But don't try to go in so many different directions from the beginning, because I did and it hurt And it hurt.
Ed MathewsYeah, well, and I have a I would like to refer to it as entrepreneurial ADD right And I have a profound case of it. So the shiny objects in my periphery can get very enticing And the same thing. I was flipping houses. I was a principal with the local real estate investors association, i was doing multifamily and I realized I was doing all of it at about 75% efficiency, which isn't enough, and so not that long ago, i left the RIA and I put the flipping business to the side and focused on multifamily, and it's been just that focus, right Where I'm not dividing up my 10 hour day three ways, has made me exponentially more efficient in terms of helping to grow the business as well as to work on the business right.
Dylan StewartAnd just to touch base on that for a second you said that 75% effectiveness and efficiency And especially in this marketplace is it does not take a lot to go from good to great, because so many people are just good out there. They're just getting by, they're okay operators, they're okay at raising capital, they're part time on social media, they're part time with whatever. To go that extra little bit, it doesn't take a lot. But from what I've seen, i think you would second this. The people that can grow that extra bit have that extreme focus. And so if you're gonna be around and for me at 23, when I talk to any of my investors, operators, i'm like I'm gonna be here for decades to come And most people are going to be in an industry. They should be. Don't start unless you're gonna be here for a long time.
Dylan StewartBut we know that if we're gonna be around for such a long time, wouldn't you rather be great? Wouldn't you rather have a business that when they hear relational capital, when they hear your business that they're like wow, yeah, i met with those guys, i connected with them, it was great, they went over and above, and that's the experience that I want, and we haven't always been that, because we learned and we grew quickly and we were so scattered. And now it's like how do people relate with my company? What do our residents experience? How do our contractors like us? What about our lenders? What about our investors? What is the communication and different things? Because now we can focus on what that relationship looks like and make sure that it's a good one.
Ed MathewsYeah, And you know it's. you, sir, are an old soul, because I don't know many 23 year olds that think at that level. So that's impressive man, Thank you. So when you talk about operations in your team, right, So you know, looking at, so I come from this at it, I come at this from a multifamily experience where there are actually human beings and infrastructure and you know all the things that I'm managing, where you know you are managing basically the land, if I'm not mistaken, correct, And the utilities and the infrastructure, But the mobile homes themselves, are they owned by the people that live there Or do you own some of them and rent them out as well?
Yeah, great question. So every business owner is, you would probably second, and there is that natural evolution, right, and so many. One thing that I've learned and I think you would say this as well, and I would encourage your listeners to take this literally is everybody listens to podcasts and you hear the people's horror stories and their mistakes and they're saying, oh, i did XYZ And now I don't. And for some reason, as business owners, entrepreneurs, we're like, oh yeah, but we're different, oh, we'll try it ourselves and we'll just do it, and and so the horror stories that I heard in the business, i tried to avoid them. But when you're hunting and growing for deals and you're looking for things, you maybe will overlook some of those things that now I won't.
Dylan StewartAnd so I say that in the sense of, as we were growing, maybe we were focusing on a little bit smaller parks, maybe in a little bit smaller of towns, private utility infrastructures, maybe older infrastructure as a whole, a high amount of park owned homes or old park owned homes or old homes in general, and just different things, and that in itself is many caution tapes that other operators would say to stay away from. And so, naturally, when we are looking at, you know, acquiring all these value add parks there's going to be, you know, some vacant homes that we're purchasing when we not purchasing but that we're acquiring when we're buying the property that we're going to have to renovate and then sell off to the residents. But our business model I think everybody would second this as well in the industry is you want to own the land, provide the infrastructure, provide the utilities and have the residents own their home. For a lot of the parks that we have right now, we are in that process of. You know, once a home is renovated, we'll be selling it off on a rent to own Or, if there's, you know, some other financing options that our residents can work with to cash us out, and then they're with a bank to finance the homes. But that is where we're moving towards, to where it's all tenant-owned homes And you know we're not having to deal with, you know, these parkland homes and different things.
Dylan StewartBecause the reality is, you know and this is the same thing with people's deal size is, you know, the smaller deals take the most amount of time versus spending all of your energy on a big deal that you're still raising equity, you're getting debt, you're doing inspection periods, you're doing all of these same things, but now the ROI is just as high. So it's the same thing that we've experienced with, you know, these older homes or different things. It's like, well, we probably could have avoided that and just gone to a bigger asset that maybe has a little bit more cushion, rather than doing it on smaller ones just because it's a lot of work. It's a lot of work, and if you're going to do all of that work over a two to three to four year period before you refinance, it might as well be really worth it, and so Yeah Well, if you're going to be a bear might as well be a grizzly right.
Dylan StewartRight, that's right.
Ed MathewsYeah, so you know, dylan, i got to tell you. One of the things that strikes me is that you are a person of action, and so you know, how did you get to be that way? Like who instilled that in you, or is that something that just naturally comes to you?
Dylan StewartYeah, Well, to be honest, I mean, even though I'm younger, I've been full time as an entrepreneur and in real estate for coming up in the past six years. Yeah, Right, And at the end of the day, your experience is based on how many reps that you do, not how long you've been around something Correct, Right. Would you rather have one year of experience repeated 20 times, or 20 years of experience where every year, you're learning something new and applying that? And so you know, for me it's just been what is that velocity that we can turn? if we have a mistake, how are we correcting on it? If we're learning, how are we fixing it? when we're hiring someone and then there's mis-expectations, Okay, Well then, how do we avoid that? And at the beginning, when we buy a property and there's an issue, okay, we add that now to our due diligence checklist. So the next time we acquire an asset, we're covering that, And so you know it's an ongoing evolution, right. And there's a few different things.
Dylan StewartI made a post on LinkedIn the other week about why most people fail in real estate, And I'm going to try to remember it all here. But a lot of it is because people they don't realize how long it's going to take and how hard it's going to be. Right, They don't have enough financial runway. And so when things get hard, they need the capital and they either buy the wrong deal, they have to go back to their job, They're not surrounding themselves with the right people, They're not taking the right action, They're not investing in themselves. So, again, it's all those main pillars to where, as I was growing and learning, it was constantly educating myself, constantly surrounding myself with people that are ahead of me. Again, I just messaged another operator here this morning. He's got almost 5,000 lots, He owns many different businesses And, again, because those relationships that I built, so when I had a very simple question, I just sent him a voicemail on text and he'll get back to me and we can discuss that.
And so, again, it's just being around the right people and then focusing on the income producing activities, because so often for me, I believe it's Mark Twain, and everybody's heard this quote of if you have to eat the frog, the best time to do is first thing in the morning, And if you have to eat two frogs, eat the biggest one first. And so for me, when I structure my day, I try to make sure that at the beginning I am focusing on the highest income producing activities, What is in front of me, And if I'm again, like right now, it's almost two o'clock and we're doing a podcast. I did that intentionally because I know by two o'clock I get energized talking and connecting with people, but when it's five, six, seven am I need to have my headphones on and building out the business and doing deep work, And so it's just constantly tweaking and finding what allows you to be the most disciplined For me. I've really been leveraging these little note cards And if you're watching the video you can see every day I map out three of my biggest tasks and I track if I got them done And that day was either win or lost if I got done those three big things. But I'm planning the night before. It says what is that next item that's going to move the business forward. That's awesome. And just different things to where it's tweaking, to where I've done time audits, to where every 15 to 30 minutes, seven days a week, I'm tracking where my time is going and then what is what can be outsourced.
Dylan StewartAnd I know that as a leader, if someone can do something 80% as well as me, I should be outsourcing it. And so for me, the CEO of relational capital, my three big things that I need to be focusing on are relational capital with investors and operators, like we're doing right now, social media and branding, And then third is leadership and elevation with the team. Those are the three big things that I can focus on. And so now, as everything else comes up, if I'm dealing with banking, if I'm dealing with our bookkeeper or if I'm dealing with something for sales or acquisition, someone can do those things 80% as well as me. So I should be outsourcing that and bring someone around me. And again, I'm talking over a six year period in the past five minutes, but it's taken time And so And compounds right, It does.
Dylan StewartAnd I think for me, I've noticed a massive shift, or even over the past two months, Ed is that I've gotten really intentional and reflective with my time, with my energy and asking the right questions. Right, You know I have some other sticking notes around my computer here. And another one is how could my business run without me, How could my business grow without me? And a lot of the times we have the right question or we have the answers, but we don't slow down enough to actually sit, think and strategize. And so when I talk about being productive or being efficient with my time or different things, there's been a lot of go, go, go And that gets you very far. But you know, recently I've just been very intentional because now I can have a team around me and different things to be a little bit more strategic with it. So it's just, it's an ongoing process. I'm excited for the next five years, 10 years, And you know, I know it's going to be growing and improving and find what works best.
Dylan StewartAnd one thing too, and I'll just say is It's so easy to compare and it's so easy to compete with other people. You know, I was talking to another operator that was talking about all these apartment complexes they've owned and they've acquired this and I don't know how many thousands of units, but they only owed on 3% of it. He only owned 3% of it. For me, across my portfolio, I own 60% of all the 500 lots and that's going to only go up to 70 and 80% across the board. And the reason I share that with people is because you can compare and oh well, that person bought another park and that person's doing this and that person's doing that But in reality is start with the end in mind.
Dylan StewartAnd so if you want to be financially free and you only need $10,000 a month to work let's say, two days a week and you want to spend time with your kids and travel with your spouse and go and, you know, have these life experiences Why are you grinding your nose to the stone, working, you know, seven days a week trying to travel across the country and acquire all these parks.
But if you don't know where you're going and what the end game is, then you're going to be moving unintentionally. And so, for me, I've gotten a lot more clear with what are the hours I want to work. When am I traveling with my wife? What is that looking like? So now, when I'm building the business, I'm within those confinements. So if I want to work three days a week, you know six hours on those days when I look at growing and scaling, I know exactly what team members and people in place, so that when I'm off the rest of the week or when I'm unavailable for my team, that those pillars are in place. And so, again, it's just having that clarity, that folks and intention, because we have those answers, It's just we got to take the time and create the space to get clear on them.
Ed MathewsSo I'd like to unpack that, because you said some really important things there. So, first, first thing is incrementalism, right, there's no such thing as get rich quick in real estate, and if there is, i'm pretty sure the person who's telling you about it is lying to you. Right, this is hard work. It is something that is very straightforward, right, but it's difficult because you're dealing with a lot of moving parts operationally. In my world, i'm also dealing with human beings, right, and the place where they live and you are too. And so the thing is is that, yes, you can take big swings And, of course, like we were talking about earlier, if you're going to be a bear might as well be a grizzly. Right, go for the big stuff, because it's the same exact motion to buy a 150 unit property as it is a 10 unit property. It's the exact same process. It might be an extra comma and a couple of extra zeros, but that's about it, and so the you know. But the thing that you said that was really interesting was, you know, incrementalism and growth, right? So you and I do the exact same thing.
Ed MathewsI have my big three in the morning that I set up, actually right around five o'clock. Okay, here's where we are And this is the playing field, and I'm going to move 1% better this way, and to do that I've got to do so. My three things are I work with investors, i work with building owners and brokers, and then I work on the business in terms of helping to grow my team. Right, so very similar philosophies. And so I don't leave the office until I get those three things done, and if it takes me four hours, then hey, i've got some free time to go do something else. If it takes me eight hours, well, that's okay too. If it takes me 12, it is what it is. Right, You've got to get those three things done.
Dylan StewartAnd if I could and I hope I'm not going to throw you too much off track for it, but I'll just say this is that's great going into the day. But for me I've failed at that a lot of time and I want to get it every day.
Dylan StewartI want to give grace to the listeners that what is the ROI on your time right? And for me, relational capital is the name of the company and I'm very much about relationships. And so for me, if I know that I told my wife that we're going to have, i'm going to make dinner tonight and it's 5.50 and I haven't played my day I was on Facebook too long or I got distracted And I need to know that I need to go down and make dinner because that was a commitment I made. There's been countless times that I have not held up on that commitment because that ROI that I thought on work was higher and it wasn't. And so for me it's having the grace to say you know what I failed today, it was a loss.
Dylan StewartAs I say, either it's either a winner or a loss if I did my three things, but that ROI is going to be better because I'm focused on that relationship with my wife or going to my family or with friends or wherever that commitment is. But then I also create the space and reflect and say why did I fail? Where did I miss my time? Did I not set expectations on that phone call that I got? And it should have been 20 minutes but I just rambled on and it was 40. Was I on Facebook too long? Did I take too long of a lunch break? And then you're reflecting and say why did I not hit my three? But realizing that if you do lose that day, as I say, it's okay, then you get the next day to reflect and counter back to it.
Ed MathewsRight right on. That's awesome, And living up to your commitments, especially to your beloved wife, is an excellent policy. I can assure you, having been married for 27 years. Make sure that when you say you're going to do something, you make sure you do it, And I've only learned by not being a man in my world. Me too. That's the thing you learn by Yeah.
Ed MathewsI've got the scars on my back to show you I had to be trained. But it's interesting how important it is to set up your day. I mean, it's the old Mike Tyson quote, right, everybody's got a plan till they get hit. And my days and I'm sure your days feel that way is that I keep a low profile in the morning and I eat the frog, as you were, to use your analogy And then my afternoons are for things that are fun, right? So I look forward to them, like this, like doing a podcast or creating a webinar, or doing something creative or informative or something to feed my brain, and it makes me a lot more efficient. So, my big three I'm trying really hard to get them done by lunchtime, right.
Dylan StewartYeah, That's great If I can drop another nugget here, Ed, for your listeners, Keep it coming, Thank you. I'm talking a lot about mindset, structure, discipline, focus, because that's what it is. And again, whether if you are working at W2, if you're self-employed, whatever asset class you're in real estate, those foundations of your mindset, your discipline, your focus, everything needs to be in place. I was talking with one of my buddies the other day and he's a solo operator and investor and he's like so what should my first hire be? How should I be growing?
Dylan StewartAnd for me, even just recently, I kind of broke down what my time is worth, where I'm at now, where I want to be, And I had a simple example for everybody that I can share that if someone wants to make $10,000 a month in passive income, cash flow, If we break that down that's $120,000 a year. That comes down to $2,500 a week. And for me, if I only want to work four days a week, that's $625 a day And if I want to work six hours on those four days, that's $104 an hour. Talk about that perspective shift My time. If I want to get to that $10,000 a month, four days a week, six hours on those days, my time is worth $104 an hour, And so now anything that is not up to that $104 an hour needs to be outsourced.
Dylan StewartAnd so when we're talking about administrative stuff bookkeepers, different things that when people are trying to grow in scale because everybody asks that question, everybody's scared to grow in scale they're like, oh well, I can't afford that. Well, you're not paying $50,000 a year, right? You're paying, let's say, $4,000 a month, $1,000 a week, $200, some dollars a day, And so, or even if you can bring someone on part time and say, okay, if you're hiring someone at $20 an hour and they're working 10 hours a week, can you afford $200 a week? I don't care if you're kicking or screaming or using whatever resource you can, you could probably find that $200 a week. Because now, if that person that you're paying $20 an hour but your time is worth $100, that should be freeing you up to focus on the big things. And so, again, it's just stacking experiences and onto that levels, onto it to where, as you're growing, you need to be focusing on the highest and best of your time, because that's when you have a break, absolutely.
Ed MathewsYeah, it's operational leverage, right. I mean, the fact is that and I don't look for people who are 80% as good as I am, i look for people who are better than I am, right, yep, i mean, if you've listened to the show out there, you've heard me say this many times if I walk into a room with my team members or I hop on a Zoom call with my team members and I'm the smartest person on that call, we're all in a lot of trouble. Yeah, and I don't mean that to be self-deprecating. I mean we are in trouble because I don't know everything And I need like.
One of the things you had said was that you do your social media and I do all the writing right, because it's me and I'm the face of my company. But I ask somebody else that actually executes on the social media plan Because, a he's better at it than I am And B he's consistent And C he's way more creative than I'll ever be right, exactly, i let my friend Jazz do his thing and he's great, and consistency is probably the biggest challenge, for, especially with entrepreneurs, you talk about your big three and your highest and best views. You still get pulled into other things because you're the boss, right, and they want to know either how to do it or how to do it your way, and the key is to basically educate them and say this is how I do it, but if you have a better way, let's talk about it and we'll do it your way going forward. That doesn't have to be my way, it just has to be the best way, right. So the other things that I wanted to really talk about was how you approach the business itself and in terms of goals and goal setting, you seem to be pretty clear on your day to day. You seem to be pretty clear on how you want to grow your business.
Ed MathewsI'm curious about how you gain clarity about what that end state you were talking about earlier. What's the end in mind? How have you gotten clear on what that first hill whatever that hill is for you to take? How did you get clear on that and what was the process you went through?
Dylan StewartYeah, well, just to drop a resource, you know my framework on a vision mindset time listening to a lot of Rob Dierdek and people think of him as ridiculousness and different things, but look up on YouTube. He has some of the most, i think, for me, game changing things on goals and perspectives. And so, secondly, next resource is Alex Formosi. You know listening to a lot of his stuff. I know he's been blowing up recently And he's been really good, and he says something that you know until you're making $100,000 a year or even a million dollars a year. However, he says it every extra amount of capital that you have needs to be invested into yourself on developing skills, right, right. And so everybody's like, oh, i got 20 grand, i should invest. Should I do it in Bitcoin? Should I do it in the S&P? Should I go and you do this? And I was like, no, invest in yourself. What is that next skill? Do you need to hire a mentor? Do you need to hire a consultant or something? And for me, that's when I have spent countless amounts of money, amounts of capital, on investing myself, whether if it is one-on-one mentorship courses, if it's joining other masterminds and programs, and again, these are the same things that I mentioned previously, As you hear everybody talk about the same thing and what was their key to success. But then you're like, oh well, i can do it on my own. I can just read books. I can do different things. And so what has gotten me clarity is just, every time there's always someone else in my corner, right, i have people for relationships. I have people for my spirituality of people for health and fitness. I have people for business. I have every different thing. And so what's gotten a lot of clarity for me? you know I am working with a business coach right now. I'll drop and nugget. Their company is Unleashed CEO. Maybe, if you can listen to my words, if I say I'm right, you can look it up. But Unleashed CEO and you know they've.
Dylan StewartI've been working with them for past six months and coming in as a fractional integrator to bring clarity, bring structure to my team. They're on our weekly team meetings. We do our L 10s every week. We have the vision set different things. So a level 10 meeting is a framework, from the book attraction and EOS to where you know, really having clear expectations with your team. What are we getting on? What are we discussing? What is everybody's responsibilities and different things, and for me I tried that before And you know, gone through the books and different things, but having a third party individual on those meetings, running it and different things, has been really helpful And so I think that's been probably one of my biggest breakthroughs is a coach or a mentor by my side, getting clarity?
Dylan StewartBut again, it's just asking those simple questions, like when there is friction in your life. I just ask yourself why Like when you were frustrated because you missed the commitment for your kids or showed up late to date night, or you couldn't pay a bill, or you know, something broke on your car and you couldn't fix it immediately but it was six months down the road that you had to fix it because you finally had the money When there was friction and issues in your life, ask yourself that question. You know, recently my wife and I spent two weeks in Hawaii and you know my team blessed their souls. They were like get out, go have fun, like live life, like all this different things. But for me I was kind of still caught in the business mentally and physically, and so that was friction And I asked myself, like what do I want?
Dylan StewartLike, how do I want to experience life financially, relationally, spiritually, health, wise, different things?
Dylan StewartAnd again, it's not rocket science, but it's just creating the time and the space to ask those specific questions And then mapping it out When do I want to wake up? When do I want to have lunch? When do I want to go out and spend time with my family and kids and friends? How often do I want to go and have activities and hobbies and different things? And again, it's just getting clarity And then you can put the team around you And again you know I've had very ambitious goals And you know we're gonna.
Dylan StewartWe're doing hundreds of thousands a month and you know wholesaling and you know we're buying assets and we're doing this and that and everything. But again, that was when I was struggling with comparison And, oh well, these guys are doing it, why shouldn't I? I'm a smart guy, i can, i understand business, i can lead a team. I should be doing that too. But then again, if I'm sitting on a beach in Hawaii, i don't need that hundreds of thousands of dollars a month and different things. But that's my goal, right, right. And so it's really just getting clear on what you want to create and then working backwards from there.
Ed MathewsI love that Absolutely, and you know there's something to be said for designing your life Right And making sure that you are on track to kind of get to that point. So so let me ask you you touched on this a little bit and I'm Dylan. I've really enjoyed this conversation. So, when you're not talking about mobile home parks and relational capital and building your skill set and your relationship network, what do you like to do for fun?
Anything and everything outside. I love snowmobiling and getting in the mountains, i love snowboarding, i like to surf, i like to fish dirt bikes, mountain bikes Anything outdoors is really fun to me. I love health and fitness And I was talking to my grandma we FaceTime every week and she's like if I would have known how old I was going to get, i would have taken much better care of my body, and I'm like, oh okay, like that's good to know, and you know. So I love things with health and fitness and you know, just getting out and living life, you know when my wife and I go to the beach, road trips, different things.
Ed MathewsAwesome. So, dylan, how can people learn about you or get in touch with you if they want to learn more about relational capital and what you're doing?
Dylan StewartYeah, relationalcapitalcom. You can find me on social media anywhere under Dylan Stewart or relational capital, all right.
Ed MathewsDylan Stewart, thank you so much for your time today. Congratulations on all your success and I can't wait to see what happens next. Thanks, ed, i appreciate you. All right, same Thanks.
Ed MathewsThis has been the Real Estate Underground podcast a Clark Street capital presentation.
Ed MathewsThanks for joining us.
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