The Most Dwanderful Real Estate Podcast Ever!

Navigating the Real Estate Wealth Transfer with Expert Whitney Elkins-Hutton

• Dwan Bent-Twyford • Season 5 • Episode 374

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Unlock the secrets to constructing a durable financial future with the guidance of real estate virtuoso Whitney Elkins-Hutton. Through her extensive expertise from AshWealth.com and PassiveInvesting.com, Whitney lays out the roadmap for creating lasting wealth, offering insights gleaned from her book, "Money for Tomorrow." This episode promises to shift your perspective, placing 'people before profits' at the core of our financial wisdom. You'll learn why a solid foundation is key before you venture into expanding your investment portfolio, and how this strategy safeguards your fiscal aspirations.

Imagine the costly errors you could sidestep with the sage advice of a seasoned mentor; that's precisely the sort of wisdom we're sharing, straight from the trenches of property investment. We'll take you through haunting tales of termite damages and expensive oversights, underscoring the value of mentorship in dodging such financial mishaps. Additionally, we tackle the challenges and advantages of the ongoing wealth transfer from baby boomers to millennials, arming you with the knowledge to manage potential inheritances and transforming them into generational legacies.

As we wrap up, we reflect on the diverse investment strategies that resonate with various life stages. From the comfort of mountain winters to the personal tunes that shape us, we interweave tales of our own experiences with the ever-evolving needs of financial planning. Whether it's discussing the shift from active to passive investment approaches or savoring the delights of personal interests, this conversation is a heartfelt reminder that resourcefulness and the right mentorship can unlock doors to a flourishing real estate investment journey. Join us, and let Whitney Elkins-Hutton's expertise inspire your path to financial growth and stability.

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Dwan Bent-Twyford:

Hey everybody, welcome to The Most Dwanderful Real Estate Podcast Ever. I'm your host, Dwan Bent-Twyford and I'm America's most sought-after real estate investor and we are super excited that you are here with us today. As you can see, I have an amazing guest, Ms Whitney. We're going to find out what she's all about and what she's got to share with us today. So, if you're new here, I took Dwan my first name, Dwan and Wonderful and I made a new word. That's how we became Dwan-der-ful. So you can follow my website, dwanderful. com, facebook, instagram, tiktok, all the places and watch videos, watch the podcast, like subscribe, leave some comments, but, opting in at dwanderful. com, I'll send you some free ebooks. So teach you kind of, give you some guidance on your journey to real estate investing. Our motto at Dwanderful is people before profits. So if that is something that resonates with you, then you're at the right place and we're your girls today. So, Whitney, how are you?

Whitney Elkins - Hutton:

today I'm doing fantastic, Dwan. Thanks so much for asking.

Dwan Bent-Twyford:

Yeah, it's good to meet you. I love your hair.

Whitney Elkins - Hutton:

Thank you yeah.

Dwan Bent-Twyford:

I had the brown silky hair.

Whitney Elkins - Hutton:

Well, don't let the hair dye fool you. I've got like the mousy gray underneath.

Dwan Bent-Twyford:

Yeah, no, me too, me too, all right, so we like to have a toast just to say hi. So everybody's watching, you all know. Grab your glass. So cheers, cheers, cheers, and everybody. Take a deep breath and just like stretch and get all the stuff out of your mind that's going on and just relax and spend like the next 45 minutes or so with us and see how great we make your day. So, Whitney, so I really just kind of throw people straight into the wolves. I just have you tell us your name, how to get in contact with you and then, like a sentence, what it is that you do, and then I've got these little questions and we're going to backtrack and see how you became to be Whitney. Awesome, yeah.

Whitney Elkins - Hutton:

Well, okay. So Whitney Elkins Sutton, you can reach me in one of two places. If you need one-on-one support with your investments, you can reach me at ashwealth. com. I teach people investments to go into, like multifamily self-storage, express car washes. You can reach me at passive investing with Whitney. com.

Dwan Bent-Twyford:

I like it Passive investing. Are you on social medias?

Whitney Elkins - Hutton:

Yeah, you can find me at LinkedIn at Whitney Elkins Hutton, I believe.

Dwan Bent-Twyford:

Okay, well, I'm going to start following you today. Yay, everyone always sends me like all this stuff about the guests, which I'm happy to get, it's like, but I just kind of want to discover who this person is on my own. So I take, I so I actually do take notes because and then afterwards you know I follow everybody and then I do whatever I can to help you with your business. Okay, so, uh. So the first thing that you said was about the ashwaltcom, that is, helping people that want to get started on the real estate investing career.

Whitney Elkins - Hutton:

Yeah, well, actually even just building a fortified fund, uh, financial foundation, and so my work there really stemmed out of working with people one-on-one to scale their real estate investments and like single families, small multifamilies even, you know, initially like how do I syndicate into larger deals. And what I found out is almost every single person that I was working with they were good at creating money in their day job, their W-2. They wanted to grow a portfolio. So they were really, they had the desire to do that, they had the skills, you know no problem doing that, but they were building on top of a very shaky foundation and so they were just like you know, one downturn away from like potentially losing their portfolio, or you know an HVAC system away from like losing an asset. And so I was like whoa, whoa, whoa, whoa.

Whitney Elkins - Hutton:

We need to go back and learn how to give people education on what it means to build wealth, like what's the objective here? Like how do you create wealth, keep it, grow it, pass it on? And so you know create wealth, keep it, grow it, pass it on. And so you know that and I, to be honest, I just finished a book called money for tomorrow how to build and protect generational wealth. That, you know, incorporates a lot of the frameworks that I teach at ashwealth. com.

Dwan Bent-Twyford:

Nice, I love that money for tomorrow. All right, so you teach, so then you do syndications, so you teach, so then you do syndications.

Whitney Elkins - Hutton:

For me, no. At ashwell. com peer education, coaching, mentoring Okay With passiveinvesting. com. We are a private equity firm that owns and directly owns and operates multifamily self-storage and express car wash assets and we also have a real estate debt fund that we do help our investors place capital into those assets as a limited partner investor. So it is a syndication, but we're not raising capital for other people's projects, we're raising capital for our own projects.

Dwan Bent-Twyford:

We own and operate everything. Well, I really like that because and I love the whole syndication thing I'm always excited to talk to someone that does syndication, because I think so. Do people have to be accredited?

Whitney Elkins - Hutton:

You know, with PassiveInvesting. com we work primarily with accredited investors yes, and AshWealth. com, no, anybody. I have so many clients that have you know that are very high powered investors that I'm going back and helping them fortify their financial foundation. So really anybody can can benefit from the work that I do there.

Dwan Bent-Twyford:

I like. Fortify the foundation. Yeah, that would be a good name of a podcast.

Dwan Bent-Twyford:

We should start one after and I might steal that and change the name of my show. That's a good podcast name right there. So I personally am a big fan of syndications. I think that most people, especially people that are newer to the real estate investing world they think you have to have so much money and so much experience and they don't even realize that they could actually be involved in something like that. It's just not in people's wheelhouse. They don't. They don't see themselves as like, oh, I could never be a part of a giant multi-unit thing. But I think that's the greatest thing about syndication is people can get involved in bigger things without having knowledge or all the money.

Whitney Elkins - Hutton:

Yeah, I mean I encourage people to, like you know, understand their goals and their risks and their timeline right so they pick the right investment to match their portfolio. I really encourage people to learn how to underwrite the operator, the market and the deal. But, past that, once you do that heavy lifting, once you invest in the deal, your active role in the investment is done. Now you're just monitoring and somebody else is doing the work. So that's why it makes a great partnership is that the general partner in this case is they're finding the deal, they have the team in place to run the deal, they're getting all the credit, the lending, they're managing all the day-to-day operations, managing the financials, and what they need is somebody's capital in order to place, whereas a limited partner, in this case, somebody who wants to invest passively they probably have a higher and better use in their day job, like a doctor, a lawyer, engineer, tech worker or not even.

Whitney Elkins - Hutton:

Maybe they've built their own business and they need to scale their portfolio, diversify their own investments. Maybe they're another syndicator, right, and they they're really great at like mobile home parks, but they need to, you know, diversify their portfolio. Now there's a way for you to do that that doesn't require you to master a new you know new asset class right, you just have to master how do I invest with this particular person? And another thing on somebody's journey if somebody is just starting off in stocks, bonds and mutual fund, you know there's no gold star for going out and buying your own single family rental. Trust me, I had 36 of them. I was like I really wish I had transitioned to like the larger assets and passive assets way sooner.

Dwan Bent-Twyford:

Oh no, when I bought my first couple I think I had five and I didn't know really anything about being a landlord. So everybody had my and this is back like before cell phones. I I started working and investing like before pagers. I tell people, listen, I'm pre-pager. So I'm like in the prehistoric days, everybody had my home number and they would call me and this needs to be done, that needs to be done. And then to be like Miss Dwan, I gotta pay my rent late, I don't want to get a fee. And I was was just like, oh my God.

Dwan Bent-Twyford:

So after I had just only like five, I thought I'm just I'm not cut out to do this and I sold them. And what I really needed was someone just to teach me how to be a landlord. So I ended up going to like a landlord class and I was like, oh well, okay, I first of all I wrong. It's better to say like you're the property manager, or have a property manager. Don't let anyone know you own anything. Don't give anybody like here's my handyman, call him if you need stuff. You know just all these little things. So I bought more but I was investing for like I don't know, like maybe 15 years before I started buying commercials, and now it's like oh man, I wish I would have done that first.

Whitney Elkins - Hutton:

Well, you know, but here's the thing you know, even though you don't get a gold star like you don't have to do that before you can go into either buying your own larger multifamily asset or commercial asset, or even into a passive asset. For most people, going from day job training time for money oh yeah, being a larger asset or giving their money to somebody else to manage, it is like it's a huge. It's a huge leap, it's a huge barrier. So if that's what you need to do in order to get into real estate or passive real estate, go buy the house.

Dwan Bent-Twyford:

Yeah, yeah, yeah, no, yeah, my son's got 10. My daughters all have single families and rentals and a couple commercials. I'm like, listen, you can start small as you don't have to start like I mean, I've been investing 35 years, so now you don't have to start there. Like, start with the single family homes. But I agree, people, I think the average person has a hard time, like growing the wealth. They learn how to wholesale or they learn how to do storage units, or they learn, like a specific section of investing or whatever commercials or single families, and then that's sort of there and they don't know how or who to go to to branch out into something else. Don't you think that's?

Whitney Elkins - Hutton:

true? I think yeah, it's absolutely true. And you know, for me, what I teach some of my coaching clients and a lot of our investors at passiveinvesting. com is how to invest according to the seven pillars. Because when I think of somebody who's kind of stuck like that, I want to kind of like help unstick them by helping them understand that, yes, you have mastered a particular asset class, but that's one tactic. There are so many different ways to achieve the same result. Let's zoom back out and understand why that tactic works. It probably is working for you one because you understand it, you're intimately knowledgeable of it, but fundamentally, the asset is helping you preserve capital. It's creating cashflow for you. Equity tax benefits. You're getting to use leverage in order to do it. You're the expert, right. So now how do we? How do we find other assets or asset classes and just switch the expert?

Dwan Bent-Twyford:

Yes, I agree, I tell everyone I do a lot of two day weekends and workshops and podcasting and I spend the majority of my real estate time training other people how to do it. Because, like I was fired from Denny's, I was a broke single mom. My husband took off, I lost my house and my car and like all my stuff and and I got into investing just really out of a necessity to like do something. But then I kept going, kept going. It's like, oh, this is great, this is a wonderful industry, and how old are you now?

Whitney Elkins - Hutton:

Oh my gosh, you're going to make me answer that question 48. About to turn 49.

Dwan Bent-Twyford:

Girl. I'm 65. I'm always like the oldest person I interview. But you know, like 30 years ago there were hardly any women in this industry. It was a hundred percent like dominated by men. So I'd be at a speaking event, up on the panel to be like 12 men and there's Dwan, you know.

Whitney Elkins - Hutton:

But now it's definitely male dominated for sure you go to a real estate conference and, like the women's bathroom line, is the shortest it's ever been. It's so short.

Dwan Bent-Twyford:

Yeah, you do. I was just at one last weekend with a couple hundred people and just in and out in a minute, just like lined up. But I actually met my husband at a real estate investing conference. So I always tell people like, hey, not only is this investing, this is your dating pool. Like look around any single guys here, because I met my husband and we've been married 22 years, so not always just for investing.

Dwan Bent-Twyford:

But one of the things I stress on repeat is that you're going to learn through mistakes and mentors, and when I started 35 years ago, there were no well, there was no internet to speak of. And I don't even think Google was invented. I don't even know. Was Google invented before the 90s 1990? I don't even I was invented. I don't even know Was Google invented before the 90s 1990? I don't even. I think I'm pre-Google and so we didn't have like all like this. We didn't have all this stuff like that.

Dwan Bent-Twyford:

I tell people like listen, I figured it out, but I did everything by the seat of my pants and I made many, many mistakes and many really super costly mistakes that if I had had a mentor, I wouldn't have made. So I tell people all the time. You learn by mentors or mistakes. You don't live long enough to do it all by mistakes. And then the long run, mentors are shorter, they're cheaper. And they're shorter because they help you get right to the point. Cause some people are like, oh, I don't have the money to pay someone to teach me. That's like, trust me, you can't afford not to. You have no idea what you don't know I would 100 agree.

Dwan Bent-Twyford:

Yeah, I'm always telling people don't know like, oh, I'm gonna buy a commercial building. Is this your first thing? Yeah, yeah, I bought a program that's like is do you have someone to like ask questions to? Is someone gonna help you, like, figure out the cap rate? You're just gonna buy it and see what happens? Like I out the cap rate, you're just going to buy it and see what happens? Like I see people do stuff sometimes I'm just like, oh Lord, what they're doing. They need someone.

Whitney Elkins - Hutton:

Yeah, it turned decades into days. I mean really, like you know, you're gonna even just I think, at least from my experience, you know, with the financial edge program at Ash Wealth when I talk to people and their hesitations is exactly that like cost time, like I can learn this on my own, like all the you know, I'll just read all the books and the blogs and you know everything like that and I'm like, but wait a second. Um, you're, it's not going to keep you mistake free, right, Even if you work with a mentor, you're going to go make your own mistakes and, quite personally, that's what I want them to do, because you're going to. You're going to be in a different market, right, Under different conditions, but you're going to learn so much more. I'm going to help you. I'm going to keep you from buying a house that has a party of raccoons on the roof like can you take out the drywall?

Dwan Bent-Twyford:

like I don't know, like how to look for that, like, yeah, like I had to rehab the house twice because of that I bought it I learned I had I started in florida, so I still have a house in florida, but I lived in florida for as I was, after high school, until I guess. So bill and I got mares like 42. So one of my and this is like one of my first maybe five rehabs I bought a house that was full of termites, but I didn't know what they were. I remember going into the house and there was bugs and thought I'm going to have to tent this house. There's bugs everywhere. I did not know that those bugs were termites. And let me tell you something Termites are no joke. Had to, we had to, like sister said all the trusses.

Dwan Bent-Twyford:

Anyway, the whole thing was like thirty thousand dollars over the budget. So this house, I'm like, oh, I'm gonna make 25 grand on this house. I think I made twelve hundred dollars. But you learned a lot, it's like. But somebody could have just told me that and I would have paid them 30 grand to say, hey, listen, don't buy a house with termite or get it inspected. I was like I will put a tent over, it'll be fine. But the wood was eaten, the cabinets, like everything was just completely and totally decimated by termites and it's like that would have been more, having a mentor just to tell me that one thing, because it wasn't.

Dwan Bent-Twyford:

I did learn, but it was like long and it was a lot of work and somebody didn't know how to do and I had to hire strangers to help me and, you know, turn into the debacle and I was like lord have mercy if I see a bug flying anywhere, I'm not even I'm getting someone out here. This is, I'm not just gonna, I can put a tent over it. That doesn't fix everything. No, it does not fix everything. So I like the fact that you guys teach and help people, but I also like the fact that you give people a place to put their money. So let's just say, I'm, like you know, 85, retired, I'm sitting on a bunch of money and I don't want to do anything. I'm just like Whitney, what can you do for me? How does that work for somebody? That's because there's a lot of people, you know, just sitting on money. There's millions of boomers out there just sitting on money.

Whitney Elkins - Hutton:

Yeah, I mean boomers, and then, quite frankly, we have this massive wealth transition that is happening between the boomers and the millennials.

Dwan Bent-Twyford:

So we work with plenty of kids, millennials they're getting all the money that is happening.

Whitney Elkins - Hutton:

It's happening right now and it's going to be one of the most massive. We're talking trillions of dollars too. It's going to be one of the most massive wealth transfers that we've ever seen. So, yeah, if you're sitting on a pile of cash like that, the first thing I tell people to do especially if you've inherited take a beat, take a breath, take a beat breathe. Make sure that you understand your goals, your risk and your timeline. So if somebody is in retirement already, like 85, their goals in their journey and what they need to create is going to be different than somebody who's a millennial that just inherited this money, right? A millennial might still need to invest in assets that have an accumulation bill to them. Somebody who's 85 is probably just looking for cash flow, right? Like, how can I not lose my principal and just ride off into the sunset with cash flow? And so that's where you know, for us at passiveinvestingcom, we have we have five verticals of investing, because we realize there are so many different types of investors out there and even then, even within the same investor, they need to diversify their portfolio. So, you know, somebody who's 85, they might have the bulk of their portfolio, say in like our real estate debt fund creates monthly cashflow for them. You know, in a first position, lean real estate debt product, no leverage. You know very plain vanilla, very conservative, and then they might allocate a small portion of their portfolio to continue to grow it. You know, maybe, that maybe they need to continue to grow it or maybe they want to pass that on to their heirs, but that goes into an equity product like a multifamily asset.

Whitney Elkins - Hutton:

Mechanically. How do they do this? Simply would hop on the phone with them, have that conversation what's your goal, what's your risk, what's your investment timeline? And then we would present all the products to them, but we would kind of order them to what we think would fit, what they told us the best. And then after that they're going to review that product, that particular investment. Yeah, ask their questions. Do their due diligence right? Make sure you this is just because you invest passively doesn't mean that you're abdicated of all, like reading all the financial literature or anything like that. Do your due diligence, ask your questions, make sure you fully understand what you're getting into.

Whitney Elkins - Hutton:

Because, like even investing in a house, investing in a passive asset it's illiquid, right? You're not going to be able to sell it on a secondary market or sell your shares like the next day, should you decide you want out of it, right, like, and then and then, once you you're, you'll write your check, you'll be invested in a deal and then you um will receive monthly, um, you know, monthly or quarterly communication, depending on the asset, quarterly financials and the end of the year, K1. And you're just keeping tabs of what the asset is doing. If we have any questions of you, like we have, we're constantly reaching out to our investors to, you know, update their tax status, all that type of documentation every year.

Whitney Elkins - Hutton:

You know if the asset goes to sell, we'll ask them if they you know how they want to participate moving forward. Do they want to do a 1031 exchange with us or do they want to sell their shares outright? So it's really hands-off For a passive investor. All the work is up front. It's much like buying your own single family house, your own multifamily property. You're going to do a lot of work making sure that this is the right investment. You're going to do a lot of work making sure that this is the right investment, but now somebody else is doing taking care of the day to day operations for you.

Dwan Bent-Twyford:

Yeah, I love that. I remember. So my dad is 86 and my stepmom unfortunately she passed away two years ago she was 84. But I remember back in like we've have been like the 8, 9, 10, like the housing crash. They both retired basically at 60.

Dwan Bent-Twyford:

And they called me up I don't know, maybe they were late 60s or 70-ish and you know they retired from like factories and places where all your money is like in the stocks and they're like you know, we went through everything and we're going to run out of money in like two years. I'm like what do you mean? You're going to run out of money. Well, the market's gone and we've lost this much and this much. You know all the things and I was like okay. So at that point I was like you know what, why don't you guys? Because they're pretty active. Because they're pretty active so once you guys get a couple rentals over in town and something you can putter around on and take care of stuff like that. But I think and and they were happy to do that because they both, you know, were retired and I think sometimes, unless you're traveling or busy every minute, you might find yourself a little bit bored and like looking for some things to do. So they bought I don't know. I think they bought bought seven or eight rentals, because they paid cash for everything. They had plenty of money. And then a couple of years later they're like oh yes, we're so wise with our money, we bought all these rentals and now we have this huge amount of money coming in.

Dwan Bent-Twyford:

I was like, excuse me, like two years ago you guys were running out of money. Two years ago you guys were running out of money, but at that stage they were still able to take care of things and fix things and they enjoyed doing that. But now they're. You know, my dad's 86. Now he's like he's willing to invest in stuff. He doesn't want to have to touch anything. So, like what you had, there's so many and all his buddies, my aunt's 97, like all of them. They're all like oh yeah, we'd like to make more money, but we don't want to do anything anymore. So someone came to you like that what's their minimum investment?

Whitney Elkins - Hutton:

It depends on the asset that they would be going into, but $75,000 would probably be the start for, like, a multifamily investment. If it's a portfolio of assets like our self-storage or our express car washes, generally our minimums are $100,000. Okay, I know this is being published, but this is for my general listener. If you're sitting there kind of like choking a little bit on your drink of choice, going, ooh, that's a lot of money, I was thinking that was not much Right, well, but I mean like. Or if you just you've got a new operator and you want to like maybe write a smaller check, always just ask the operator if they would take a little bit, you know like. You know maybe like 50K or something like that. You know different operators have different minimums but you know, for us it's 75 to 100K because we work with that accredited investor and that accredited investor generally has, you know, more cash sitting on the sideline than somebody who is just starting out on their wealth building journey.

Dwan Bent-Twyford:

Oh, when you said that, I was like, wow, that's really great, right? Yeah, I just like saying that because you know, oh my. God, that's a lot of money, but not, not, really Not if it's in a big fund like that.

Whitney Elkins - Hutton:

Yeah Well, and you're buying shares into a business that owns the real estate. So you know a 75K check is probably a minimum investment for an $80 million project. So you know, if you're ever driving around your town and you're kind of wondering like who owns these? Like you know 100, 200, 300 unit apartment complexes, it's groups like us, it's groups exactly.

Dwan Bent-Twyford:

I tell people all the time I'm like you know they see like a building or anything for sales like, but you probably know a person like me or they would could meet a person like you and find out like who's involved in that. And it's really surprisingly easy to get into things if people just yeah, groups like that like, instead of thinking like oh, it must be something giant corporation I could never get in contact with, it's like well, here's whitney, right here, you know, and I think access is easier than people think they assume. To do things like that you need like some giant um person or a connection, and not like there's companies like literally sitting there looking for people to put money into things well, this is a relatively new industry.

Whitney Elkins - Hutton:

Like you know, in 2012 there was a shift that allowed these type of investments to be open to more retail, like investors. Otherwise, before then and somebody's sitting here going like 20, 30 years ago I never heard of this, probably because you had to be in connection with a family office, some sort of private investment group or a hedge fund in order to be connected to that type of asset. But that's changed to that type of set. But that that that's changed. You know, really it's given um the um, the average person the ability to diversify away from wall street to main street. So you, when you invest in a project, multifamily, self-storage, express, car washes, even real estate debt fund you're impacting local communities. Your money's not going off to some big like hedge fund group, blackrock or whatever Like. You actually can drive by and see the change that is happening on these local communities and what you are doing to affect that neighborhood, and it's really positive.

Dwan Bent-Twyford:

It is. I think that's exactly right. People think it's like you have to know a hedge fund or something and I don't think enough people realize now that like a regular person can get into big projects. Yeah.

Whitney Elkins - Hutton:

And here's the thing is, on a large whole, most operators cannot advertise.

Dwan Bent-Twyford:

Well, I do know that. You know I forgot to say that. Thank you for bringing that up. So everybody listening they can't advertise, but I can tell you you should go check her out because it would be an amazing thing. That's why I forgot you can't advertise. That's why I think enough people don't know about it.

Whitney Elkins - Hutton:

Yeah, so now we have Regulation 506C and so that's why we work with accredited investors, because under Regulation 506C I know this sounds like the tax code, it's the Security and Exchange Commission regulations we can advertise our projects. So you can find larger groups like us. If you know what to Google for, if you know what to look for, you can find us at real estate conferences like Best Ever Conference and other large conferences. We show up there, like Best Ever Conference and other large conferences we show up there. But, like some of the smaller groups, it's going to be a little difficult. Like you're going to have to get connected into a local RIA or a local investment group. You're going to have to network with other investors and, quite frankly, networking with other investors is such an amazing way to find these type of investments.

Dwan Bent-Twyford:

It is. We own a ria in denver called colorado ria and that's why, when you said boulder, I was like wait, hold on. But uh, I know the people. The girl that runs the um colorado springs, her name is dwan. What it was like dwan, like d-w-a-N. She's like yeah. And I was like it's not possible, two Dwans in Colorado, that both on Ria's. I've never even met a Dwan. And so when you said that, I was saying oh wait, no, but you're in Boulder, is there a REIA in Boulder?

Whitney Elkins - Hutton:

I believe.

Dwan Bent-Twyford:

Yes, I'm not a part of it, but yeah, I believe there is that's up to you all the time go to conferences, go to Ria's, watch podcasts like everything you need is available. You just have to go and find it. So now, what is what's the biggest goal? What is the big goal that you're working on right now, and how can the people at Dwanderful help you reach that goal?

Whitney Elkins - Hutton:

Whitney, oh my gosh. Yeah, I mean, I think for us is that we're looking to, you know, double and triple our debt fund, and so that's professionally, you know. So we're looking to really expand our reach. You know, with the Fed raising interest rates the way they've done, and kind of bank money somewhat, you know, evaporating, this has left a lot of borrowers in a lurch. And so, you know, with our debt fund, we fund a fix and flip fund to keep these borrowers in a lurch. And so, you know, with our debt fund, we fund a fix and flip fund to keep these borrowers revitalizing communities like in South Carolina and North Carolina. And we want to expand that reach into other states, like we have a foothold into Atlanta and Tennessee. We're actually licensed in majority of the United States. We just haven't expanded that foothold yet expanded our team. So that is a huge undertaking for us to increase our reach there.

Whitney Elkins - Hutton:

All right, so everyone the.

Dwan Bent-Twyford:

They want money from you to invest, for you to make money, and they have a fix and flip fund. So it's like what more could anybody want return, return on that investment? Now I'm gonna, so we're gonna jump topics for a minute. So tell me, what is your uh favorite band of all time?

Whitney Elkins - Hutton:

dave matthews band hands down dave matthews.

Dwan Bent-Twyford:

I love dave matthews. I forgot about them. I always like to ask people questions about like music and stuff, because I feel like you can kind of get a vibe for what a person is or what they like to listen to you wouldn't know that because if you came into our house, like everything looks like the Grateful Dead.

Whitney Elkins - Hutton:

My daughter's named that for a Grateful Dead, so you wouldn't know that about me if you came in our house. But that's mostly that's one band.

Dwan Bent-Twyford:

I regret that I did not see it in person. I know um, so in boulder I've seen like a million concerts and I was like, oh, I totally would have loved to have gone to.

Whitney Elkins - Hutton:

A grateful dead yeah, um dead and co. So the kind of second evolution of the um grateful dead, uh they. Up until last year they played at the wholesome field stadium which is a mile from our house. So we went to every and they did. That run for like six, seven years and we went.

Dwan Bent-Twyford:

I love it. I know Steve Matthews band. That's awesome. I haven't thought about them for a while, so I'm always curious what do you like to eat? What's your favorite thing to eat?

Whitney Elkins - Hutton:

My favorite thing to eat that I don't eat is cheese. So I love cheese, but I I have. I have some uh uh uh athletic goals, and so I have cheese after I run my races. So Mother's.

Whitney Elkins - Hutton:

Day is gonna be fun. Have cheese for the day, what up, and kind of tackling the day. By the end of the day I I'm ready to. By six, seven o'clock, I want to be on the couch and just relaxing, um, you know, doing whatever I need to do to kind of fill my cup, but I I love both aspects of it.

Dwan Bent-Twyford:

Whatever I need to do to kind of fill my cup, but I love both aspects of it and people always complain about when it's the winter, the standard time or the savings or whatever it is, when it's in the fall. But we live in Bailey, up in the mountains, so it gets dark at five o'clock and people are like it's dark at five o'clock but at our house we're at 9,000 feet and we're in the dead of the mountains and every night and that time of year we light a fire. Every night at five we like have some wine, we watch TV. It's like, oh, this is the best time. And I hear people all around the country they're complaining it's dark on my way home from work. But yeah, if you live where we are, it it's so beautiful that time of day, yeah.

Whitney Elkins - Hutton:

We actually, we will actually, for the month of December, usually take off and go to Sedona so we have longer days. Yes, kind of you know so, but to get more sunshine for that very reason. Yeah, because we live in Boulder, we get the cast of the shadow of the mountains so it can get dark. Oh, you do, yeah, like 430.

Dwan Bent-Twyford:

Oh yeah, the mountains, so it can get dark. Oh you do, yeah, like 4 30. Oh yeah, no, I, I'm a sun. Firstly, I'm a sun lover. It's like if I can be at the beach and the sun's up all day, I'll just stay outside for 15 hours, I don't need to go in. I do like the winters when I'm in colorado. If I'm any place else, I'm like, oh, why is it dark so early? But in the mountains it's nice to light a fire. It's like, oh, this is so cozy because in the summer, you know, I feel like it's nice to light a fire. It's like, oh, this is so cozy Because in the summer, you know, I feel like it's daylight till nine. I can't go and just like light a fire, it's still daylight outside.

Dwan Bent-Twyford:

Right. I mean you know doing that after dark, so it's funny. Okay, so people to reach you. Tell them one more time I want everything in the show knows how do people reach you again. Yeah.

Whitney Elkins - Hutton:

If you're looking for one-on-one help to scale your financial position and become that unstoppable investor, you can reach me at ashwealthcom, a-s-h, wealthcom. I have a free quiz on there to help you understand what might be playing into a roadblock for you to achieve your goals. And then if you're looking to place those passive investments, if you're ready to invest or want to learn more about that, check me out at PassiveInvestingWithWhitneycom.

Dwan Bent-Twyford:

I love it. Very easy, easy to find. So I have a couple more questions. So first, I just want to thank you all for being on joining and listening to the podcast today.

Dwan Bent-Twyford:

I am a really big fan of syndications and things where you can place your money with people that already have learned how to do it and, as you know, I spent a lot of time teaching all of you because I mean, if there was a bonehead mistake ever to be made, I feel 100% certain I made all of them, and so it's so much better to work with someone. Like you said, I like the decade into days. Oh, that is so true. I tell people, listen, I have three decades of knowledge and if you just work with me, I can cut you right to where I'm at. You don't need to go through all of the ups and downs and things of investing, all of the ups and downs and things of investing. So, again, I want you to reach out to DwanDurful D-W-A-N-D-E-R-F-U-L. Dwandurfulcom and I've got some free eBooks for you. And again, if you like the show or you're watching this on YouTube, click the subscribe button.

Dwan Bent-Twyford:

Give me a five star. Share this Like you. Don't need to keep it like secret agent. Share this, share it with other people. Let other people know that I have a great podcast and I have amazing guests and I really I just love, I love everything about you. Like you're from Colorado. I can just see you like being like that kind of hippie girl in the mountains and running and hiking and just like really loving where you're at in life. All right, you nailed it. Yeah, no, I totally see that. I love that. I like people that are like as they go along, they're like true to themselves too did the plaid give me away?

Whitney Elkins - Hutton:

is that what gave me away?

Dwan Bent-Twyford:

a little bit. But now, just when you especially said grateful dad is like I totally get this girl 100. I like the kind of music people listen to because you can tell a lot. It's like, oh, I see, yeah. But actually now that you said that, I was like, oh, that is plaid, it looks good on your, on your with your skin and everything Okay. So now the biggest challenge of the day is I want you to give us a parting word of wisdom, but it can actually only be one word Resourcefulness. Oh, that was fast.

Whitney Elkins - Hutton:

I think it's the one thing that keeps resourcefulness yeah.

Dwan Bent-Twyford:

So hang on. So the people that listen to Dwarven, you know that we have a word of the week. So a word of the week is resourcefulness. So now I want you to tell me what that means to you. So when people are thinking about the word, that's our word we're going to put it on a sticker and put it on a mirror resourcefulness. What does that mean to Whitney?

Whitney Elkins - Hutton:

People are stuck in an obstacle or wondering you know, I can't, you know, you know. If you switch that to, how can I? Now your brain is starting to tap into all those things that innate knowledge you have. So it's never about I can't because I don't have enough resources, I don't have enough money, I don't have enough time. It's about resourcefulness. How can you find it? So it's the mindset shift, because you don't have to have everything in order to achieve your goals. Do you need somebody that has the money? Do you need somebody? Do you need a who on your team that has the time to do X, y and Z? Do you need somebody on your team that has the skill? Do you need to get a mentor, like we've been talking about so much here, to help you collapse decades into days, right?

Dwan Bent-Twyford:

so resourcefulness I see now I that's what I would think. That is like figuring out how to make it happen when you don't know. That's what I would think that word resourcefulness would mean to me and that is really it everyone.

Dwan Bent-Twyford:

I mean, you know you go to conferences and stuff. Everyone's like, oh, I have to get an llc and I have to borrow money and I'm trying to get my credit straightened down. I don't know what to do and I'm reading books and watching videos and I'm going to jump into something. It's like, oh, I hear people talk like that. I'm just like, oh, you just don't know. Like, just for the love of God, follow somebody that's already doing whatever it is you want and figure it out and just let somebody else help you. That's already been there.

Dwan Bent-Twyford:

And especially when, for people that have aunts and uncles and parents and things like that that are, you know, in like the boomer age, they have so much money like you could just talk to half the people in your family and like, hey, let's all invest over here with Whitney and let's get into the Ashwell, then let's do this and that, and people, just there's just buckets of money sitting around that people don't realize how much. Very true, very, very true. Just like buckets of it. And I like I'm all for the syndication.

Dwan Bent-Twyford:

I feel like it's a really good way for people that either want to be involved or don't want to be involved. There's a place to put your money where it's it's safe, because, like you can't trust the stock market and crypto's, like you know, it's all over the map. It's like here and there and everywhere, and you know all the people that the most millionaires are made every year through real estate investing. So still today, since today, since the beginning of our country, there's always more millionaires through real estate than any asset group all put together. So it's like I don't know why people just stay in the lane, get involved in investing, just find out what you like and do that.

Whitney Elkins - Hutton:

No, absolutely, and it doesn't require a degree, right. So that's an amazing thing too. It's attainable for anybody, literally anybody, if you're resourceful enough.

Dwan Bent-Twyford:

Yeah, resourceful. I love resourcefulness. That's a super great word I love. I like what it means. I like what it means to you, All right, everyone. So again.

Dwan Bent-Twyford:

So, Whitney, first of all, I just want to thank you for spending time with me today and you know I realized that time is our all of of us. It's our most valuable asset and you know, when you do something for an hour like you, can't get that time back. So I appreciate you spending the time with us today and everyone that's listening. I appreciate you all spending the time with us as well. And again, like and subscribe and follow. Find whitney. Find her on linkedin. Go to ashwaltcom passive investing with Investing with Whitney right, Passiveinvestingwithwhitneycom yes, and find out. You know you may have money or skills or more access to things than you think that you do and you're sitting on money that could be making you money and that never gets anybody ahead ever. So you got to turn that money into something else, and I love decades into days. They can learn from you and cut decades off of their learning curve yeah, bring it on, let's do it all right.

Dwan Bent-Twyford:

So listen, if I ever hear of any grateful dead groups going about or you do you have to text me and I will come over to boulder and go to like something. I saw fish one time. I was like, oh, I've died and gone to heaven here. I never, ever, got to see Grateful Dead. I was like that's a one band I regret never having gone to see. So when they have something like that happening around Boulder, you're going to have to text me. All right, you're on, I'll come and be like your, uh, your hippie friend up in the mountains. Your hair is already blending in.

Dwan Bent-Twyford:

There you go, I'm already like I've got that part going on, so I could be like a mermaid. All right, honey. Well, listen, thank you, I appreciate your time, everyone. We'll see you next week, same bat time, same bat channel. And remember that the truth is in the red letters. Ciao, goodbye, everybody.