The Ugly Truth About Picking Someone's Brain I Jon Parsons DSH #493

Here's my thing.

I hate it.

This is going to be a pet peeve for you.

Isn't it annoying when someone says, Hey, I'd like to take you to lunch?

There's things I'd like to pick your brain.

Oh, my God.

There's like no reciprocation of value.

There's a there's energy and then an inner energy sucker.

And I look back, and all the times people I went up to and said, I'd like to take you to lunch.

I know they're cringing, but find search for an increase, just something of like as soon as you see that person has a need, offer to fix

that need, you know, provide something.

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All right, we got John Parsons here today from Baltimore, Maryland, right?

Yeah, I flew out of Baltimore.

I live by Annapolis.

Okay.

So about 40 minutes away from the airport there.

Nice.

You born and raised out there?

I was born in Southern Maryland.

I was born in Florida, but lived most of my life in Southern Maryland.

Growing up, were you always entrepreneurial into business?

I was.

As a younger kid, at one point,

I bought 22 shovels from a Lowe's and went out and stood at the corner and sold them for triple the price when the snowstorm started.

You were that kid?

Yeah, I was, which actually I found out later wasn't necessarily an ethical business move.

But, you know, I was posting ads in the classifieds at 12, 13 years old.

I made Christmas wreaths and went around the neighborhood.

Yeah.

So it definitely goes back for a while.

There was a period after where I kind of fell away from it, but okay, we'll dive into that.

Where do you think you got the entrepreneurial side?

Was it from your parents?

So I think that, um,

I don't necessarily think it was from my parents.

I think it might have been, um, I think I might have been partially my older brother.

And then part of it was just it, um, I don't take um instruction or, or authority very well.

Right.

So being able to kind of like do what I want and, and control that has been kind of like the biggest motivator in that.

Yes, you were not a school kid then.

No, I was homeschooled.

Oh, nice.

And

I graded my own work.

Really?

Yes.

Once it got to like eighth grade or whatever.

So

I don't know if my mom would be happy with me admitting that, but it did get to the point where I was grading my own stuff.

And so,

no, I hated school.

I never felt like it was giving me anything like useful at all.

I do hear with homeschool, the one kickback is the social stuff.

Yeah, that was huge.

That was huge because I didn't i i know that church was like i got to play basketball for 30 minutes after church and and i and then homeschool people have this weird thing called co-op where you get together and order oats and honey and in bulk and and just be like you know just be weird with their turtlenecks and and so like they would all get together and like order stuff bulk and then when it comes in like they share it but that was like the one opportunity every month where i got like a full hour to actually play with other kids and so that part sucked so i had absolutely no social like as a 18 19-year-old, even then, like after moving out, like no social skills.

That was the biggest part.

That was tough, especially as a kid, because you want to just have friends and play sports and do all that stuff.

Absolutely.

That sucked.

Wow.

So were you on social media at all at the time?

No.

So not at all.

I didn't.

I'm a little bit older than I look.

I'm 32.

So at that time,

I did sneak a MySpace when I turned like 16 years old.

But that's, no, I wasn't.

That was before my time.

I didn't catch the MySpace.

No, yeah.

yeah i caught the facebook wave in middle school that was cringe yeah that was a weird phase it was yeah now it's just like grandmas that use it yeah pretty much

pretty much i only use pretty much instagram i use tick tock just to study like what's viral but yeah i don't know i feel like facebook is okay for like super local like kind of um seeing what like what's going on like like locally not necessarily like from abroad yeah yeah there's some good groups on there if you're in

get leads from right roofs and things like like that because everyone, you're pretty much friends with like the local people.

Yeah.

So you didn't go to college?

I actually did.

And that was actually, I attribute that to being one of the worst decisions I've ever made.

I had gone like the very stereotypical path of like college.

And then I got like a regular nine to five immediately after.

And I think that going that route ended up turning what led to the initial depression of like, how am I going to actually leave an impact or make an impact on this earth following and the masses?

So, I did.

I got a bachelor's degree in business administration.

Wow.

You made it through, man.

I did.

I did not.

Yeah.

I was depressed.

Congratulations.

I was depressed for sure.

And I wasn't fat, though, so we'll dive into that.

Yeah.

I've always had this, the opposite issue.

I'm skinny.

So I've had trouble gaining weight.

There you go.

So you're on that Greek yogurt.

Yeah.

Which everyone's so jealous of, but it's like a blessing and a curse because I can eat so much and I don't gain weight.

It's crazy.

Yeah.

See,

I can have a bad weekend and I put on some fluff.

Okay.

Yeah.

So I have to stay very active and watch what I eat for whatever reason.

I don't know why.

It all goes into one place, too.

I feel that.

How many pounds did you get up to at the peak?

So it wasn't necessarily the pounds that were a problem.

It was like where it was going.

So like, you know, I was basically an eight-monther.

Okay.

You know, a visceral eight-monther.

Dad pod.

Yeah.

Visceral eight-monther, you know, hide the cheese, hide the whiskey.

Your boy's about to clean the pantry out.

You know, so

yeah, that's kind of where it was.

Okay.

So how'd you get through that phase?

Was that all the college, all four years so no that was that was probably after honestly yeah so that was that that led was after and i think that that me getting to that point was way more mental than it was physical it was it was mental things

i was dealing with and during college did you have that mental struggle too yeah i think so because

There was no way to tie in what I was working on into a bigger picture that you could say this is going to leave an impact on this earth.

Like, what am I going to do?

And this isn't a knock to everyone that goes to college.

Like doing something other than that isn't isn't for everybody but I definitely just felt I think in my subconscious that I was working towards something that wasn't going to

couldn't possibly lead to something great or exceptional you know like the best case scenario is I get a job coming out of college making $60,000 and I'm can't wait for the weekend and I'm watching the clock can't wait for 430 and that's what happened right so it happens to almost everyone it does which is crazy the scariest to me it's the scariest happened to me in school just looking forward to weekends and you know hating mondays Now I just appreciate every day.

That's all you can do?

That's how it should be.

That's how it should.

Yep.

And

you're here.

You said

you have seven.

And

you're living it.

You started this, you said 13 months ago.

Yeah.

Yep.

And like, imagine if you would have put all this last 13 months and energy into finishing your degree.

That would have been the worst thing you could have done, right?

Can you imagine?

Would have cost me money.

I mean, I wouldn't have learned anything useful in life.

The opportunity cost.

Yeah.

Yeah.

Yeah.

I lasted a a year.

And, you know, being from an Asian background, education is really important because that's how my mother got out of poverty because of education.

And it was a different era, too.

Like, it was a little bit different than the cost of living was so much lower and, and things like that.

So, and it did help a lot of people, especially, you know, immigrants and things like that, get out of

because that just getting,

you know, a $50,000 or $60,000 salary coming from what they're used to, I mean, that, that could be a life-changing thing.

Yeah, my mom came here with 20 bucks in her pocket.

Didn't say that.

And that's admirable, though.

Yeah.

You know?

Yeah.

I'll never knock her for it.

It's a different era.

Education was super important.

Right.

She got like straight A's and that's awesome.

But for me, and I think for our generation, it's a new movement.

It's not about getting A's.

It's about learning useful things and applying it.

Exactly.

And it's more important than ever.

You know, I advise if someone isn't going to do entrepreneurship to learn a skill and a trade and just be as valuable as you possibly can, as opposed to learning something that's going to look good on paper.

Yeah.

Because I think that times are changing a little bit in that aspect.

Absolutely.

So, did you have massive debt coming out?

Um, it wasn't too bad.

I did have a partial scholarship playing golf.

Okay.

Um, so it that paid for some of it.

Um, but I did have a significant amount of debt.

Um, I mean, any amount of debt to

go do something like that is too much, right?

Yeah, especially at that age because you're just starting out, you're trying to take some risks, and it's hard when you have debt, right?

And so, I definitely wish that I would have used that time to

go and

important people and become useful and learn a skill and a or yeah learn a skill and master that for sure so what was that first kind of business you started when you got out so um I started a construction company in 2018 and that was it was actually initially mold remediation and it kind of turned into a full service construction company and that company was called Parsons Restoration.

And so that was the first one.

And I learned more.

I rose.

That went well for a first few years.

It kind of crashed some towards the end, but I learned more from that first three years in business.

I bet the trial and error.

That's where I learned, I learned more in any given day doing that than I did in all of the years.

I bet.

When you get thrown in the fire like that,

that's the only way to learn.

That's how they should have business classes in college.

They should just say, yo, go follow this person around all day for six months.

That's what they should do.

You know, the only trouble would be getting the person that's being followed around to agree to it.

Right.

They'd have to think of some way to compensate them, whether it's money or I mean, I'd rather give them my tuition than that person.

That's that's follow them around as a mentor, right?

Exactly.

And so I think getting close to the money,

getting close to those people that have the life that you want to have and then becoming valuable to them no matter what it is, you know, whether it's, you know, offering to be their human footstool, you know, following around with a fan and offer them gentle breezes all day long or whatever it is.

You know, I'm serious joking about that, but to find a way to be valuable to the important people and even accept little to no money for it.

Like literally ask for nothing in return.

I would have done that.

I would have much preferred go work for someone for free for four years.

100%.

I think I got to look through my emails.

I probably still have this.

I emailed Gary Vee.

I said, yo, I'll work for you for free, dude.

Really?

And so he's big on that as well.

I think I've heard him talk about people should start doing that.

I think so.

Yeah.

I mean, that's what I did at first.

Did it work out?

He didn't respond, but I would just send that email or DM to anyone i admired and i think i don't remember who accepted it but uh probably dan flashman right um yeah he was like my first mentor yeah mentorship is crucial though it is it's huge and uh you said he was who was who was your first mentor dam dan flashman okay and how did you how are you able to because here's my thing i hate it this is going to be a pet peeve for you too isn't it annoying when someone says like

hey I'd like to take you to lunch or there's things I'd like to pick your brain.

Oh my god.

There's like no reciprocation of value.

There's a there's energy and then an energy sucker.

And, and it sounds a little bit rude to be like, that's annoying when people do that.

Cause like I look back and all the times people I went up to and said, I'd like to take you to lunch.

I know they're cringing, but instead of that, to do what you to have the mindset that you did of like find, search for an accrease, just something of like, as soon as you see that person has a need, offer to fix, fix that need, you know, provide something and ask for nothing in return.

That's what you have to do, man.

I hate when people pull out the lunch or the coffee car.

It's like so cringed.

It is because it's like what, and it sounds selfish to say what's in it for me, but if

you accepted, I guarantee it, if you accepted every lunch offer to get your brain picked, then you probably would be overweight because you would do nothing, but eat lunch all day long.

Enough lunch for free for 10 years, probably.

Yeah, probably.

I mean, it's not a good offer, guys.

You got to change it up.

Yeah.

Yeah.

How did you get your first one, first mentor?

So I like to keep my mentors in categories.

So somebody who's especially good in business might not be the best health advisor or might not be the best advice for like relationships or mental health.

So I have, I've had a bunch of different mentors.

My older brother has been a big mentor for me.

He's a

traveling musician and

things like that.

And he's always been the type that just jumps off the cliff and pulls his parachute out on the way down, like figures out how it works on the way down type of a mindset.

So he's been a massive role model for me.

And then there's other times like there was a situation.

There was a guy at the time who was way further along in business than me.

And I was just like, I didn't ask him to go to lunch.

And I was like, how can I add value to this guy?

One day I hear, I see him posting on Facebook.

And he said,

I don't know what to do.

I've had,

I think it was like probably during

and his, all of his team had

and my guys didn't.

And I was having a somewhat slow week.

So I called him up and I said, hey, dude, you can have half of my guys.

And I literally lended him my guys,

asked nothing in return.

And then guess what happened?

He started answering my calls.

Wow.

And when I had questions, and it was also a multi-mediation company.

So,

and when I offered the guys, I was, you know,

I was doing it out of the kindness of my heart, but it was also, it was, not going to lie, it was me kind of searching for a way to add that to somebody who was important.

You were thinking long-term.

I was.

And it paid off for me.

That's the way to think, man.

A lot of people are trying to think in one transaction at a time, but you got to think it's chess.

Yes.

It's chess.

It's delayed gratification.

Yeah.

You know, for sure.

That's major.

Do you believe success is volatile?

So

I think that

success is kind of like eating a burrito on a roller coaster.

You know, you got Senior Rita sitting next to you

and

you're having a little fiesta.

It's a good time.

And next thing you know, you're choking on a ghost pepper, you know, and somebody's going to have to have some milk.

Otherwise, Senior Rita is going to hop in Big Poppy's cart over there.

So I use that analogy analogy to basically say, like,

you can fall off a high horse really quick.

And look at it like this.

Like,

success is so volatile.

Like, what do you consider to be success?

Like, health,

relationships, reputation.

Right now, you could say the wrong thing and you're canceled.

You know, right now

you could go to your doctor's checkup and get horrific news.

God forbid.

You could.

ask Mike Tyson what happened to his money, you know?

So like, I think that knowing that success is so volatile, like the fear of like losing what you've built and create can keep you on your toes.

But then I think also knowing that you could recover from anything, like right now, I guarantee you, you truly believe that if this entire podcast was stripped from you, Jersey Champs was stripped from you, everything you ever built was completely stripped from you, you could build it back up very quickly.

Yeah.

And that, like, the just knowing that you could overcome just about anything happened to you can, is what helps stay focused and driven.

I think.

Yeah, I love that.

The skill set doesn't go away.

The businesses might, but I've done many businesses at this point, and I've learned something from each one.

And now I can do stuff much faster.

Right.

I pulled this off in 13 months.

If I start another podcast tomorrow, it'd probably take me six.

Right.

No, exactly.

And so you're starting from scratch.

You're starting from experience.

Yeah.

And I don't remember where I heard that, but absolutely.

You hear this quote a lot about like you should stay humble.

Yeah.

Do you believe in that?

So I 100% believe in it, but I do think there's two sides.

I think that

we were in a day and age where it is popular and cool to post only you're out at clubs and you're beer bonging and all this stuff.

And everyone's like, cheers that on.

But the second you post anything remotely, like, look what I did, look what I've accomplished from all my delayed gratification, you're suddenly judged as like a show-off.

You know, you have like Grant Cardone, who you had on the show recently.

He's straddling his jet in his picture.

And it's like, I do think he deserves, like all the things that he sacrificed, he deserves to be able to say, like, this is what I've accomplished.

But at the same time, being humble is so important.

And here's why.

As soon as you get to the point where you're like, I made it, like, I made it to the top.

I'm, I'm the,

suddenly you're closed off to improvement because where else is there?

What else is there to learn?

So I think remaining humble allows you to be open-minded and continue to grow.

Because arrogance, I think there's a hard stop at growth.

Yeah.

Arrogance and ego.

It's a tough thing for me to work with people that have that.

Yeah.

It's, it's not, it's not attractive.

Yeah, because you have to admit you're not always going to be right so when you come to a disagreement with someone and their ego and their arrogance kicks in yeah they won't even want to move or adjust 100 and a big part of even like business strategy can be oftentimes playing dumb and just saying look i don't know anything about this like when i meet with my accountants i'm like i you could be telling me anything i don't know i don't know you know um if i'm closing on a property you know i'm i'm the with the closing officer they're they'll explain something i don't know what you're talking about can you explain that to me like i'm four but you know so i think that's important some people are afraid to look stupid right they are they are afraid to look stupid and and i think that there's it's it's like this um pick any movie that's ever come out where there's a hero they're in every single movie there's a scene somewhere towards the beginning where they embarrass the out of themselves imagine if

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In our own lives, we're the hero, right?

We're the main character in our own movie.

Imagine if we arrive to that scene in that movie and we turn around and walk away.

We'll never get to see what happened at the end.

You're going to see an alternate ending.

But with you watch a movie where there's that hero, if that scene doesn't happen, there's no movie.

They go home.

They lived a boring life.

They died.

That scares.

That scares me.

That's true.

Yeah.

Yeah.

You got to be willing to, I mean, I got some things I still think about that are, you know, me in weird situations, but I had to do it to get to the next level.

Yeah.

I'm, and I'm sure that there's, because with what you've accomplished, you've had to be in some big rooms with some big people.

Yeah.

Some really big people.

And

you didn't get there by being a know-it-all.

You know, you went to, you, you went to people and you learned.

And, and, but I'm sure there are times where you.

Oh, yeah, yeah.

There's some cringe moments.

I mean, you know, we grow up and we think that people get impressed by certain items or objects and some people don't right and you come across as like you're flexing it that's not who i really was at the time you know right you live and you learn yeah that's all you do um you had one interesting thing you said on your instagram you said be careful who you share plans with

so when it comes to that there is no quicker way to have your vision the fire in your vision fizzled out by sharing with people who don't get your vision or are not necessarily qualified to like god shared the vision with with me he didn't share it with with anybody else and the biggest risk of sharing your secret with with those not secret your vision sharing your vision with people is that they are going to potentially talk sense into you

imagine if somebody 13 months ago would have talked sense into you.

They could have told you every, they could have convinced you, or not you, but it's just, there's nothing good that can come from sharing your vision.

Now, at the same time,

I think there's a difference between sharing your vision and sharing a secret.

Like, I think that I like to share, I like to give away free information.

So, I don't think there's anything wrong with giving away free information, but a vision, just keep that protected.

Because

got to be very careful who you tell, even family, you can't tell.

Yeah, no, that's a fact.

Because

your plan, like to get a million subscribers on YouTube, that was delusional.

It was, it, it's not realistic, it's It's delusional.

It's borderline impossible, you know?

And, and so that delusional optimism is, was the difference.

Absolutely.

Yeah.

And if you tell some normal person that, that vision, they're just gonna absolutely on it.

Yeah.

All day.

Yeah.

And it sucks when it's family, but it's, it's part of it.

It is.

Yeah.

And that's, that's actually been one of the most difficult parts, or just about anyone that has become any, had any level of success, they really struggle with with family and friends.

And anybody that knew them, especially people that knew them before, like people that knew you before, who you are now,

you know, it's probably feels different when you're around them, you know?

Like,

for sure.

There's not many still left.

Yeah.

They kind of, they fall by the, it's like the you've changed thing.

Yeah.

It's like, isn't that the point?

I don't want to be that guy anymore.

You're supposed to change.

Yeah.

Even in relationships, like you're supposed to change and evolve.

Together.

Yeah.

Yeah.

I hate when people say, oh, you've changed.

Like, obviously.

Yeah.

Hanging out with better people and getting inspired, you know?

Because when you grow up in a small town, that's all you know.

But you got to broaden your horizon a little bit.

Travel the world a bit, get some new perspective.

That's right.

There's people that still live in my high school town where they grew up.

Oh, really?

Yeah.

Yeah.

And I saw you, you said you,

talk about trial and air.

You tried L.A.

Yeah.

Right.

For a bit.

Tried L.A., tried Vegas.

Yeah.

Stuck with Vegas.

Yeah.

LA is not for me.

Yeah.

And this, what why was that uh well it was during so i don't know if i gave it a fair chance but it was just not much going on and i felt unsafe actually yeah yeah i i um i was very so i was talking about this yesterday i was i'm surprised like here in vegas like just how at least where i've been how clean the streets and everything was it felt clean and safe to me compared to new york city probably compared oh my gosh yeah compared to new york city or baltimore or anything like that i don't know baltimore is already it's it's disgusting i've never been there i don't even i don't you've probably been there almost as much as i have really Yeah, I've been there a handful of times.

Like, I don't, I go for there for the airport.

Damn.

Okay.

So you're in and out.

Yeah, I'm not.

So like where I'm at, I'm near like Annapolis area.

And that's like, that's like a

kind of a more quiet, like boating community.

Yeah.

And seafood.

And then there's a, in Annapolis, there is some stuff to do and places to kind of go.

So it's, it's a nice balance between like stuff to do and then like kind of a quieter.

Okay.

Nothing like here.

I love seafood, man, so I'll definitely check it out.

Are you there mainly for family?

Yeah, that's just kind of where like I've always been.

But I actually recently, I lived,

I just very recently moved an hour and a half away from my hometown.

Okay.

And so for me, that was a compromise because I had built a business there and it's a service-based business, Pinpoint Innovations.

So I couldn't, I don't want to say couldn't.

It didn't make sense for me to completely uproot.

So what I did is I moved an hour and a half north, got away from my hometown.

It's a completely different.

completely different area, different vibe.

It's way different.

And so I got to move away.

And that was very important and crucial in my growth but um but it's also close enough where i can still operate the business yeah when i moved such a big step dude yeah it yeah and what what would you say is the main reason why i think it's different for everyone but i was in jersey which is not a state for entrepreneurs for the most part so i've been there once oh twice which town did you go to i went to like the stereotypical like atlantic city oh okay yeah because that's new jersey that's white trash yeah that was that was that was that was crazy dude there was i think the squirrels were on crack yeah have you seen how the the squirrels act there?

Yeah.

Dude, they're like, yeah, they were weird.

One of them was like eating his tail.

Yeah.

That's not cool.

Don't get around a crack squirrel.

Get out of Jersey if you're into entrepreneurship, guys.

It really changed it for me.

Yeah.

Yeah.

You need to be near a big city, I'd say.

Yes.

Yeah, for sure.

And that's, it has been, I am looking to kind of grow my.

my business network into the Baltimore area and

then you know north of Annapolis.

So that is nice that I'm moving up away, being closer to the cities.

And I've been to some really nice network events for real estate and things like that.

So you're basically cool.

Yeah, I'm obsessed with real estate.

And yeah.

So, and I recently got into

buying rentals using what's called the Burr method.

Okay.

So the Burr method is an acronym for people who don't know.

It's an acronym.

It stands for buy, renovate, rent, refinance, and repeat.

So essentially, it's a way to not use your own money to buy a house, fix it up.

And then once it's fixed up, you get it reappraised for a higher value.

Then you get, once you get it reappraised for a higher value, so let's say that you bought it for $150,000, you put $50,000 into it.

Now you're $200,000 in.

But let's say you get it appraised now and it's $350,000 in value.

Then I can refinance for say $250,000.

I get all my money back.

So everything that was lended to me to buy the house in cash, I pay them back.

Now I

now I have the house, which is refinanced in what's called a DSCR loan.

So it's a 30-year fixed loan.

And I have $100,000 in equity in the house.

And then I have a renter paying my mortgage for me.

And there's cash flow.

And the house is appreciating in value.

So in 30 years, a $300,000 asset will now be worth a million dollars because every 30 years, it averages to about triple or more in value.

It's been a game changer for me.

And I've actually using $0 of my own money money in the past year.

I've been able to get into seven.

Holy crap, that's brilliant, man.

Yeah, but you talk about moving close to a city.

I thought I was hot for a little bit on the inside.

I'm like, wow, I'm doing big things.

But then I met a guy just last week.

His name was Nick and at a

networking event.

And he, in the past five years, he's at 92.

Holy crap.

And that's why I tell people to move because you can easily become the top person you're talking about.

And it just opened my mind.

I'm like, what am I?

And I know that seven in a year, like that's in my first year of doing that is like, is good.

Really?

But at the same time, I'm like, man, it's so important to get around people like that.

We were like, I'm not thinking big enough.

Yeah.

Like, I'm not, you know.

Wow.

So you don't use your own money.

So are you using a credit card?

No.

So I'm using what's called a hard money loan.

So,

and then, so at first when you start, the deals on the money is very expensive.

So you're going to pay a lot in interest.

Now, it's still going to be worth it because you're going to have so much equity in the house and things like that.

But typically,

I started out using hard money loans where they land 90 of the purchase of the home and the renovations so you have to come up with like 10

so my first deal i had 130 in the bank that i ever did

and um

130 in the bank and i

got a signed contract from somebody um to buy the house didn't have any money i called the hard money lender on my first one and i said hey i i have this deal i sent it over they lended me 90 now i have eight let us left to close on the house and i I have to come up with $30,000 that I didn't have.

It took me about 50 or 60 phone calls,

friends, family to get that $30,000 lent to me.

And

then I was able to close on the house, do the renovations, and then refinance, get all my money back, and then do it again.

Wow.

So that's been pretty huge.

But now, once you actually get a few, then you start meeting private individuals.

who will lend you 100% of the purchase and the renovations.

Because of your track record.

Because your track record.

And then that's where the getting on social media has recently has really helped because there's, I bought three units last month, three properties, and I actually spent $0.

Holy crap.

Like he, he literally wired me to the money.

And this is not like a dime in the rough.

Like these people are everywhere.

Like once you get into these networks and you start meeting these people, when they hear that you're like, you're, you're having success doing the burr method, they will, they will lend it.

And what interest interest is it uh so they usually are about two to three points up front so if it's a two hundred thousand dollar loan you're gonna spend five or six thousand dollars in interest right off the bat okay and then every month you have to pay a percentage of the loan interest only so on a two hundred thousand dollar loan you're gonna spend probably five or six grand up front and then and then you're gonna spend about one percent of the loan amount per month so like two thousand dollars a month okay so the average one takes about four months so in the end you end up spending about fourteen $15,000 in interest.

So you get 200K?

Yeah.

Dude, that's nothing.

No, it's nothing.

And especially like my last one after I refinanced it, I actually got, when I refinanced it, I actually, not only did I get my money back, I got an extra 10 grand.

And I could have done more, but I just wanted the equity, keep equity in the house.

So I,

so

anyways, I had $130,000 in equity in that house.

And what's really cool is when you get the money, like when you refinance it, you get the money back, it's not taxed.

Why?

Because it's technically leveraged by debt.

So this is, this is like, I don't want to say invented by Robert Kiyosaki, the Rich Dad, Poor Dad author, but he's the one that made this method really popular.

I've seen him talk about how he has a billion dollars in debt.

Yes, and he brags about it.

Yes, it's the exact same.

I got it.

It was the first book I ever read was Rich Dad, Poor Dad.

So that method is pretty awesome because here's the thing.

People are like, oh, but you could sell the house and get $130,000.

Okay, but then guess what happens?

I'm paying taxes.

on that $130,000 in profit because that's profit.

Right.

So instead of doing that, you're so much better off refinancing it have it 130 000 in equity now your net worth just went up 130 000 untaxed and and then

if you then if you want money instead of selling it get a hundred and thirty thousand dollar line of credit and live off the debt so like and so instead of selling it if you sold it you'd be living off the cash so what's the difference if you're living off the debt now that that is not taxed yes you're going to pay a little bit in interest but that's some cheap money yeah and you're way better off living off of debt and having equity in all these homes.

So he has a Robert Kiyosaki has a billion dollars in, you know, in debt, but I don't know what is, um, how much equity he has.

I mean, it's probably

a lot at this point.

It's probably, it probably is near a billion.

Yeah, because he's done it for so many years, right?

40 years.

So exactly.

So, I mean, I wouldn't be surprised if, and the thing is, like, he's not, he's literally, he's living a life of a billionaire paying nothing in taxes.

You can't pay taxes on equity in a house.

Like, cause it's, it's, it's just on paper.

Yeah.

I pay more in tax than Trump.

Yeah.

You pay zero dollars.

Yes, exactly.

That's how I know I'm not doing that.

I need to get into real estate this year.

Yeah.

Well, if that would be awesome.

And if you, if you ever, I, um, I might not be

the number one person to go to for that, but I do know people I could connect you with.

Yeah, love that.

Dude, it's really fun getting to know you, man.

Anything you want to promote or close off with?

I would just say that

anybody.

Anybody in life who says that it's not that simple,

it's from that Instagram reel where he's there like, what's the biggest lie you ever ever told?

And he says, it's not that simple.

She said, no, like, what is it?

He's like, no, that's the biggest lie I was ever told is it's not that simple.

It is that simple.

And as long as you're willing to wake up and get kicked in the balls and then choose to be happy,

then

you are going to have an amazing life.

And if

you're not willing to get kicked in the balls, then you're going to get kicked to the balls anyways.

Right.

And you're going to probably have a miserable life.

Perspective, right?

Perspective.

Absolutely.

So

it is that simple.

And be willing to do what you have to do, regardless of how you feel.

And every single day.

And it is that simple.

That's bars, man.

Let's end it there.

I love it.

Thanks for coming on, dude.

Absolutely.

Thanks for watching, guys.

See you next time.

All right.