Unearthing Dramatic, Holistic Wealth and a Firestorm of Freedom with Dave Wolcott

[0:00] Welcome back to the REI agent, Matthias here. Erica can’t join us today. Before we get, I talk a little bit about the, what I normally do in the intro. I wanted to quickly just say that we are considering doing away with this intro part altogether, kind of getting straight into the podcast guest. And I just wanted to, first of all, invite anybody to message, direct message, comment, whatever about your feelings about that. If you enjoy these kinds of intros, initially we were kind of wanting people to get to know us a little bit and kind of have a little bit more of a personal relationship since we’re interviewing other people and not really talking about ourselves in the podcast. But, you know, the thought of maybe just getting right to the meat a little bit faster, maybe people are skipping over this stuff anyway, is kind of in the forefront.

[0:54] So we’re thinking about it and maybe this will be the last intro I record. We will see, but definitely give us your feedback on that. I did want to briefly talk about last weekend. We went camping with our new camper to us for the first time. We took it to a campsite, an RV site, a KOA, only like 20 minutes away. We wanted to give it a shot without, you know, pushing ourselves too far out. And, you know, it was nice. It was a pull-through site. It’s supposed to be really easy. I show up. I immediately break the rules. They had a very clear spot. I was supposed to park and sign in. I didn’t do that. I kind of pulled in awkwardly. And then they had to direct me another way to get to the site. It worked out, pulled in, and was able to…

[1:43] It was pretty much level side to side, which was also very nice because I hadn’t yet… Well, I forgot the level at home. And I hadn’t yet installed any of those, like, bubble levels on the sides yet. So I wasn’t sure how to do all that. First time setting it up, it was nice when it was not needing to be too complicated. But then, you know, we went through the weekend, had people come over, you know, cooked a lot of tons of good food. Kids enjoyed it. We had, you know, there’s playgrounds and stuff nearby. That was all great and fun. And then when we were packing up to leave, there was a very, very tight turn that, you know, it was a pull-through, but I had to do a really tight turn. It would have been better for me to back up and get over to the other side of the lot as much as possible and then make a much wider turn.

[2:36] Hindsight’s 20-20. I thought, I will just try it. If my truck can get around, I can get around, right? Well, I got really close to a tree. And at that point, I think everybody, every dad in the campground gets alerted somehow and they come running over to help. And so I was getting a bunch of advice about how to get past this tree. And then I ended up getting stuck in between a rock and a hard place, a boulder and the tree. I was like not, there was seriously just, you know, I don’t know, a couple millimeters of distance from the street. It was very close. Never hit it. And then, you know, one of the people from the cable and the staff came and he looked at it. He was just like so sick and tired of the other people giving advice and like was just like telling them to go away.

[3:27] He’s like, he called for backup for the most experienced guy to come. And we were able to navigate kind of past the boulder into a bit of a ditch. And then we’re able to back the trailer up in a way that got us free from the tree situation. So it was something. Somehow I didn’t totally lose my nerve through that process and got it back to our house. We were going to unload it. I have to back it into the parking lot to do so. And I had two neighbors show up to help me with this process. And I kind of told Erica, there’s too many voices out the window so that maybe one of the neighbors would stop trying to tell me something and just distract me. Honestly, that part was more stressful than the tree situation for some reason.

[4:23] And yeah, so anyway, it was a great experience. We had a lot of fun camping. We’re looking forward to doing it more and kind of exploring the different parks. It’s a whole different world, honestly. I mean, like there’s just camper people, I guess. And I guess we are now one of them. We didn’t really intend to buy a camper. We had kind of chewed on it a little bit and didn’t realize that they’re a lot more affordable than I expected. And so one just kind of a good deal fell in our laps and we decided to go for it. And now we’re finding ourselves in the wonderful world of campers. Anyway, today’s guest is very educational. It’s very good. He’s going to go into a lot of complex strategies. But this is the advanced world of investing that can really get you ahead.

[5:15] And so it’s really, really good. It’s always good to push yourself and not just write off something that’s too complicated, but just keep learning. Keep growing. I mean, syndications felt like that for me at the beginning, for sure. But the more that you are familiar with them, if you listen to this podcast, the more that it becomes clear that it’s just, you know, it’s not that complicated. And it’s just really a good opportunity to get into. Dave Wolcott is going to be explaining the different ways that he invests or that he helps other people invest. And so it’s a great episode. Definitely some good freebies at the end as well. So without further ado, here’s Dave. Dave.

[5:59] Welcome back to the REI agent. We’re here with Dave Wolcott. Dave, thanks so much for joining us. Hey, Matthias. Really grateful to be here to connect with you and your audience. Dave, to start, can you just give us a bird’s eye view of what you do, what your business is? Yeah. The way I really see our business is really helping people throughout the wealth journey. And that consists of providing exclusive passive investments in real estate opportunities, energy sector, and also private credit and debt. We also run a virtual family office for high income, high net worth individuals. We also run a mastermind community for people who are looking for advanced wealth strategy concepts. And then lastly, we have actually a wealth software platform that really helps you track and manage alternative assets, real estate.

[6:51] So you can truly have KPIs around your passive income goals, your alternative assets, truly creating a balanced portfolio. We’ll have to get into that because I’m curious a little bit. Having tracked some stuff myself, invested in a syndication, it’s kind of hard to know what to do with that other than what capital I invested at the time. So, yeah, there’s a lot to dig in there. What kind of got you in this space to begin with? Yeah, Matias. So, look, I was raised in a middle class family in Connecticut. And I was told that the recipe for success was go to school, get good grades, you’re going to get a job, and life is just going to kind of work out for you, right? And so I followed down that path of conventional wisdom.

[7:37] I had the opportunity to actually serve my country in the Marine Corps. I did the ROTC program. And, you know, in the Marines, I learned some things you just don’t learn really anywhere else in the world, things such as, you know, true teamwork, leadership, integrity. And shortly thereafter, I transitioned into the corporate world and just really got frustrated with, you know, the corporate bureaucracy and really losing that sense of purpose and that sense of mission that really drove me in the Marine Corps. And at the same time, my wife and I were raising a family. We had an 18-month-old toddler ruling the roost. And on October 24, 2000, Matias, we literally had triplets and quadrupled the size of our family overnight.

[8:26] Wow. So I could tell you the day after I was standing there holding three babies in my arms, and the first thing that went through my head was just thinking, you know, how am I going to provide for financial security for my family? You know, I’m 26 years old. And I mean, this is really massive here. So I went to see my financial planner, right? And then he started just telling me that, hey, you should just invest in your 401k, max out your 401k. You’ve got kids? Well, they have these programs called 529s that you can invest in for, you know, the kids. And I knew right then that building wealth as a retail investor in the stock market was not the way to build wealth. And so this launched me on this obsessive journey to figure out how the top 1%, the top 0.01% are really building wealth.

[9:17] So at this time, I then started investing in all kinds of real estate and alternative assets, everything from raw land, retail, office buildings, single-family rentals, multifamily rentals, oil and gas, credit, debt, right? A number of different assets. And then, you know, fast forward here 25 years later, and I’ve really encapsulated all of my learnings to really create a blueprint for people in my book called The Holistic Wealth Strategy that is really just that, right? It’s a roadmap. It’s a blueprint to help other people collapse time and get to their, you know, freedom goals faster. Yeah. Well, first of all, thank you for your service. I want to ask a quick question about that. With your kids, is that something you would encourage them to do at this stage?

[10:13] Or not at this stage, but like when they’re of age and all that stuff, to join the Marines, to join that? Like, was the values and lessons you learned in the Marines pivotal for you? Yeah. I mean, the learning lessons from that I will have for the rest of my life. And interestingly enough, my 24-year-old son actually just, he just joined himself. So he’s in the Marine Corps, just finished boot camp. And, you know, he’s going to come away with confidence, with integrity, with trust, with persistence, with hard work and dedication. And all of these values instilled that whatever you really do in life, I mean, it’s just so foundational. Yeah. I think the discipline aspect of it that I assume, I was not part of the military at all, but is such a valuable thing.

[11:03] That, you know, I feel like I’ve spent most of my life teaching myself, trying to now, since I, you know, didn’t play organized sports in high school, which I feel like is maybe another way you could get a little bit of that. And, you know, certainly the military, I assume, would train you. I mean, you get what you put in, right? I mean, if you work hard, if you’re exercising, you get results from working hard. If you’re investing, whatever, you get results from putting effort into it and learning and pursuing, et cetera. Yeah. Yeah. In addition to the discipline piece, Matias, you know, I think really, I mean, I was in during Somalia and really the first Gulf War. So after you’ve been in the combat situation, you’ve been fired upon and you’ve been to some third world countries and traveled the world.

[11:51] I mean, it just gives you unbelievable perspective. It gives you humility. It just gives you so many different things that you carry with you as part of you, you know, throughout it really, I’ve been out for, you know, 30 years, but I feel like it was yesterday, you know, and those are really instilled at the core of me. Yeah, that’s, that’s great. And, and, and, and about the financial planner thing, like, I think there’s just that this divide that really doesn’t need to be there. I wish there were more people that, that, I mean, I think that it basically boils down to where you’re getting your money from. And most financial planners are not going to earn money by recommending real estate, right?

[12:37] I mean, that’s basically. At the end of the day, they get paid by assets under management and they, they’re not, they don’t have the expertise to be able to advise on, you know, asset classes like real estate, you know, and unless they’re doing private investments, which, you know, you can find some kind of boutique RIAs and things like that, maybe doing some private offerings. But for the most part, right, you’re in some type of equities, stocks, bonds, mutual funds, right? That is the typical advice that’s out there. And so people think that’s the only way you can really invest. So the system is really set up that way. And it’s really a bit rigged and Wall Street just keeps getting, you know, richer and keeps growing because, you know, just think about all the pension funds, all of these 401ks, all these programs keep compounding.

[13:30] And, and, and corporations just keep putting more and more money in there. But I will say that, you know, there is a big movement now, you know, people are getting a lot smarter, right? And shows like yours and education like this, people want more control of their capital. I think people are really tired of just throwing all their money into the stock market and riding this roller coaster. And then just hoping things are going to work out, right? And hoping we get to some kind of, you know, retirement number at the end. But I’ll tell you, with taxes, fees, and inflation, that’s so underestimated. That, you know, seven or 8% return really gets cut down into more like, you know, a 4% at most type of return.

[14:18] Whereas when we look at asset classes like real estate, as you know, your audience knows, and there’s some other ones like energy, right? And, and private credit and some other things, but we really like to look for the trifecta in investing, which is driving passive income today, driving tax efficiency, and then also driving forced appreciation into the asset, right? So you could typically do that, right? In real estate, as we know. So on the active side, what’s, what’s really interesting about energy, a lot of real estate investors don’t know, is that this is also a great way to offset active income, because you can invest. And like we, for instance, we have an oil and gas opportunity this year, up to 92% of active income.

[15:06] So even if you have a spouse working, any, anything that’s active income can be offset up to 92% of your investment in year one. And then you have a nice return of capital distributions, you know, just like real estate asset class, but you get that active income offset, as well as diversify into another, you know, into another asset class, right? Yeah, let’s break that down a little bit more. So it doesn’t sound like, it sounds to me a little bit like similar to like the accelerated depreciation type thing when you’re, when you’re in real estate. But that’s a different thing altogether with the energy. Is that correct? Yeah. I mean, you know, the, the biggest right shift people need to make, right.

[15:50] And, and, you know, I, I think this is really relevant. I mean, not only for your listeners, because a lot of your listeners are having investors kind of come into deals, right? So the more we can help people solve problems, right? The more, you know, we’re all going to be successful together, right? And having someone pay less in taxes is really huge. Obviously, you know, the real estate professional is huge if you can do that, but not everybody can, can line that up together. Now, how this works, this has been around, you know, really since the Reagan era. And you can do basically intangible drilling costs, which are really, they call them IDCs. If you have a working interest in a well, we’re able to basically offset through the expenses of putting the well together and everything.

[16:41] There’s also depletion allowance because it’s a, it’s a reserve, right? Oil and gas is like basically a reserve. So there’s a few different pieces of the tax code there that support that offset. So it can be a very strategic move, right? To lower, lower your taxes there. And then in addition to that, I mean, you know, we all really need to learn this lesson, right? If we haven’t already that as much as we love the real estate asset class, I mean, let’s face it like multifamily 21 through 23, right? I mean, the whole, a lot of the commercial market, if you were using floating rate debt, right? I mean, deals are challenged, right? Distributions have been paused because of that interest rate risk.

[17:27] So if you can kind of diversify into another asset class, right, such as energy, where that macroeconomics are really strong and the fundamentals are really strong of that investment, it’s just a good way to diversify your risk, right? Not have everything kind of tied up in one area. Okay, let’s, let’s, let’s paint a picture of what that looks like. So it’s, is it run similar to like a syndication? If I were, you know, Joe Texan and I bought a plot of land and I needed capital to get the will, the drill, drilling done and the pump set up, all that stuff, I could set something up like a syndication where investors would be investing in this, potentially the cost of the land as well. Is that kind of how this works?

[18:13] Yeah, correct. More, more or less, that’s correct. I mean, there’s just like in real estate, there’s many, many different operating models of how operators actually work on that. But I will tell you, and I will share this piece of advice, right? I mean, after investing in private deals myself for 25 years, you know, we are really much more reliant on institutional quality operators and deals. So just like in real estate, right, you can have mom and pop type operators, or you can have people with not as much experience. But we’re seeing, you know, like on the real estate side, right, maybe some of those operators didn’t have the balance sheet, you know, to save an asset, right? Right. You know, you know, during this time.

[19:02] So the same thing on the oil and gas, you know, you don’t want to go for a one well type of approach, right? Because if you come up empty on that, right, then, then, you know, you’re down to zero. There’s other like the, the, the sponsor we work with, it’s a $10 million minimum. They mostly just work with RIAs and family offices. They’ve, they do $350 million in revenue, right? So it’s, it’s in an institutional, but we’re able to do a syndication and then bring a larger amount of capital to them, which gets our investors exclusive access to the deal. And the same terms as that $10 million investor. Okay. Okay. That makes sense. Yeah. I was going to ask too, like, if you’re operating funds or syndication models to like, would a fund be diversified within the fund between the different sectors?

[19:58] Or would it be specific to a deal like a syndication? For the most part, we’re doing deal specific type of, you know, fund of funds, we believe is a more compliant structure these days and, and, and gives more, you know, transparency. And everything to our investors and, and, and some better ability for us to be able to communicate with investors and everything. So we’re a little bit preferential to that special purpose vehicle or fund of funds type structure. And would investors need to be accredited or investors to, to join? Yes. Yeah. Okay. Yeah. And for people listening to that, do you want to, that may not be familiar with it, what that is. Do you want to explain what that is? Yeah, sure. So basically all it is, is that the SEC is just really trying to protect the individual investor.

[20:49] And you can do it. There’s three different ways. You either make 200,000 in income for the past two years. And you can prove that through your, you know, your W-2 or your tax statements. Or you make 300,000 combined with your spouse. Or the last one is you have a million in net worth outside of your primary residence, right? Yeah. So that, that, that’s, that’s basically all that is. Yeah. And, and I think this is, you know, if, if you’re looking at simpler strategies of investing in real estate, for example, this is one of the benefits of doing that and starting investing in real estate, because as your assets class assets, assets grow, you can then become an accredited investor. If you’re not having that income requirement, you can build up, you know, if you do the BRRRR strategy 10 times, you know, you, you might be able to get a lot of equity without really having a lot of capital in the deal.

[21:45] So that’s something to consider that you, if you, if you’re building that stuff up, you can then start joining things like this as well. Oh, go ahead. Yeah. Yeah. And just, just to cap onto that, Matthias, right. A way to think about this is that it’s a really scalable way to build your wealth is really getting into passive type syndications, right? Because you can do BRRRR strategy, wholesale flipping, like all of those kinds of things are very active and very involved and that’s great. But at some point you’re really going to have a ceiling of complexity that is just harder and harder to grow. Okay. And then the same thing with your wealth. So you’ll always see a trajectory of people scaling up into syndications and higher quality deals.

[22:37] You never find a story of someone who’s been investing in syndications and everything all of a sudden go down and say, Hey, I’m going to start to do fix and flip. Right. And it’s all because of scalability. So think of it like that, wherever you are on your journey, think of it as more of like a progression of where you could get to. Yeah, exactly. Because I mean, at the end of the day, if you, if you vetted the operators and you feel confident and you’re investing in good deals, yeah, you’re, you’re, you’re writing a check, you’re wiring money. And then you, you, you’re collecting and you can keep monitors, you get the updates and stuff and see how the deal is going. But ultimately you’re just collecting dividends and maybe some other great things depending on the strategy.

[23:20] I wanted to ask a little bit about the other asset classes then that you’re in. Do you want to go into the real estate stuff that you’ve talked about or the debt? Yeah. So why don’t we talk about prep private credit? Cause I think we’re, you know, you’re starting to see more deals in the marketplace around private credit. And let me also just make a note that this is an industry we’ve been watching for quite a while for the past 15 years. It’s been growing at over a 20% combined annual growth rate. So, and, and the reason being right, this industry is growing so much is because banks are continuing to have tighter regulations around lending. And you have small businesses that are growing and need access to capital.

[24:10] So it’s very much like, you know, really, you know, hard money lending, uh, on the real estate side, but it’s more like hard money lending to businesses, right. That are growing and things. Now I think an important distinction to make is that you can actually invest in private credit. There’s all kinds of different, um, you know, forms. You can actually, uh, invest in national defense companies providing private credit for them. Uh, of late, you’ve seen a lot of private credit around multifamily and some real estate assets, but I would really caution, uh, the listeners. If you were looking at that as an investment, a lot of the reason they’re creating that private credit is it’s really almost like a pref equity tranche, uh, for a troubled asset, right?

[24:58] That’s pushing equity holders back in terms of getting their money. And then they’re, you know, they’re giving this pref equity kind of piece and calling it private credit. So, so the terms of it look enticing, but you really have to understand the underlying asset because I think there is some risk there as well. Now, in terms of the, uh, the fund that we’ve been working for the past couple of years, uh, we work with a sponsor that’s institutional. There’s some very big institutions on their platform. They’re really one of the biggest in the country. Um, uh, and this thing has been growing at over 20%, uh, a year, just like completely crushing it. We’re basically providing that short term lending, uh, to smaller businesses that are growing.

[25:44] Uh, a great example is like, I live in Florida, right? So when we had the hurricane last year, you got a roofer who’s got two years of business, right? But he cannot fulfill it because he needs supplies. He needs, you know, people to go over to fulfill that business. And if he goes to a bank, it’ll take him six months. If he can even get the funding, we can underwrite him inside of a week. And then he takes out, you know, his loan, he’s going to pay a premium for that loan. But the average life of the loan is only seven months long. So they’re paying back principal and interest. He’s happy because he captured the business, right? And then we’re happy as investors because we offered that up and we’re getting a very nice return.

[26:27] So you can get either a strong cashflow return. If you’re looking for passive income, um, or a really slick strategy, a lot of investors are doing too. If they have like other 401k money, um, you could actually convert that into a self-directed IRA and then basically triple your output, you know, from what you were getting, you know, just averaging in the stock market to now getting a non-correlated asset that’s growing a lot better on a risk adjusted basis. Yeah. The self-directed IRA is fun. I’ve, I’ve often not been as interested in, in that just simply because, you know, again, you can’t touch that until you’re retired. Um, however, I do have money in IRAs and it would make sense, especially the money I have in Roth IRAs.

[27:13] Like it makes a ton of sense that that would then grow tax-free. Um, so it would be great.

[27:20] Um, okay. So that, that makes sense. And, and what kind of like interest is, is, uh, business going to be likely paying for this kind of thing? Um, I mean, that really varies depending on the business, you know, and the terms that they kind of structure. Um, but they really call it like a factor rate. So it’d be like, you know, could be around like 1.3 or something. I mean, they’re going to pay pretty steep. So that’s around 30%, uh, interest, right? It’s pretty steep for the business, but again, see it as more like, it’s like hard money lending, right? You’re going to, you’re going to pay, uh, for the access to capital on the short term. Um, but they’re, you know, it’s going to be worth it, you know, based upon what they’re doing.

[28:05] Yeah. Yeah. The hard money lending thing sounds like it’s like somebody that’s going to go, you break your ankles if you don’t pay up. Uh, but yeah, really all it is is, you know, somebody willing to, if you’re not able to get financing or if it’s too hard, um, an investor will be reaching out to a private entity and, uh, getting a loan for, to complete their deal. And they are factoring a higher interest rate, uh, in that. But if the numbers pencil out, then, you know, it’s better than not having the deal altogether. Yeah, absolutely. Boils down to. Yeah. Um, so how, how has this world enabled you to, um, be, how’s that helped your family life? How’s that helped your, you know, your personal life?

[28:48] Have you been able to feel more free, uh, and not as much of a slave to a company or to, to whatever, uh, to, you know, be there for your kids, be there for your family? Yeah. I appreciate that question, Matthias. And, and I know, I think we really share in that philosophy. And again, my book is actually called the holistic wealth strategy. Um, because as I was starting to invest and look at alternatives and everything in, you know, in real estate and all this stuff, right back in 2000, keep in mind, right. That’s when I took the purple pill and Kiyosaki had really literally just came out. Uh, in fact, we just had Sharon Lecter, uh, the coauthor of rich dad was just on our podcast last month.

[29:28] Um, but you know, it’s really, I think what I thought about all these things was I really like this psychology piece of this and what does it all do? Right. We talk about creating passive income to create financial freedom, but you have to keep asking the question. Why? Like for what? Right. You know, uh, a question I’d love to ask, you know, our, our investors, uh, our clients is, you know, if I gave you a billion dollars today, how does that, you know, what would you be doing? Where would you be and who would you be with? Right. How does that actually change your life? You really have to do some deep level thinking. We also run a mastermind community. Um, so we do, uh, we’ve had some amazing, we had an industrial psychologist come in.

[30:15] Have you ever seen, uh, Wendy on billions? Uh, she’s kind of like the person who psychoanalyzes this hedge fund trader and all the psychology around it, but she came and spoke. And so we spent a lot of time kind of talking about that. And, um, you know, I feel strongly about that. Right. And in my book, I, I talk about, uh, in our holistic wealth strategy, it all starts with creating a vision for yourself, because if you don’t have a target, you’re going to miss every time. So once you can actually create this crystal clear vision of what does life look like in three years and 10 years, then you can then start to write re-engineer and say, how do I actually build that? And to me, it’s all about, it comes down to really, uh, freedom, Matthias.

[31:02] I think this is really what everyone’s looking for. And it’s not only freedom of money, right? Because money is just energy, right? To amplify what it is you’re doing. We also want freedom of purpose. We want to wake up every day and be fascinated and motivated about the work we’re doing. We also want freedom of relationships. I mean, I get to spend my time talking, you know, with you today, a like-minded person, right? On a similar mission on the journey and learn something myself. And what a great way to spend my day. Right. Um, and it’s also about freedom of location, right? I mean, you know, I’m living here in Florida. I got rid of state taxes in winter, you know, a couple of years ago I moved.

[31:42] So we’ve got freedom of location. Um, and so all of these different things, these are the kind of freedoms I’m looking to create in my life so that my relationships, you know, I can put 10 X energy into my relationships, you know, who I am, focus on the things that really work and then just start living that life. And interestingly enough, you’ll find a lot of times when you, when you do some of this deep work, it’s actually not even about money. It’s much more, actually, it’s about intention, right? Absolutely. I couldn’t agree more. I think if you don’t do that type of work, you’re just going to have life happen to you. And nobody would do that type of work or nobody would plan their vivid vision and think, okay, I want to be overweight, divorced, have my kids not talk to me.

[32:30] But one day you might end up there. And that’s one of the things that I like, you know, talk about in the book and everything with agents is that we, we tend to, you know, just get so focused on the sales and the deals that are coming through. And, um, you know, we, we sacrifice a lot, you know, when it’s busy, cause you know, we have, which is that the way the business works that, you know, when you’re busy, you have to go out and work hard, but, um, at the same time, you want to have that intention to be with your family. And I think you’re absolutely right. It’s the freedom that we do seek. And for me, I, you know, the image of, you know, being on the beach and drinking a mojito, like if you’re, if you’re, you’ve made it, you know, you got that billion dollars, like, is that what you really want to do every day?

[33:12] Like, sure. That’s fun on vacation. But, uh, like you said, like getting up with excitement and purpose is really what you’re going to find fulfillment in. So I think that even if you did get that billion dollars, like you’re going to want to think about how you can, you know, wake up with the purpose. And maybe that is then to, you know, use that billion dollars to make a difference in the world and have a purpose that way, if you’re not pursuing more wealth anymore. Um, so it’s, I can, I couldn’t agree with you more. It’s well said. Yeah. Oh, a hundred percent. I mean, because, and that’s why this, the other thing, right. That ties to traditional financial planning is this construct of accumulation theory, which drives basically this retirement notion.

[33:56] Yeah. Right. Which is, I’m going to work, you know, my whole life for 40 years, save up some kind of nest egg and then kind of live on the nest egg and, you know, hope that my health, my relationships are really still there at that, at that point. But like, why would you retire? You retire is stopping to do something you don’t like to do. If you don’t like to do something, do it today. Right. Don’t, don’t wait till some arbitrary number that’s actually out there. Right. So you want to be focusing, um, on having that purpose. And again, you know, as you build wealth and once you hit this level where, you know, it materially actually doesn’t change your life that much. Right. You know, you’re able to take vacations, do the things that you want to do.

[34:40] So more money, what does more money really mean? It means that, yes, can I, can I create more impact? Can I magnify, you know, basically the things that I am projecting into the world by creating more impact, you know, more value, more education, improve the quality of my relationships and things like that. Yeah. Yeah. So going through this process myself, um, is, is really a big motivator for me and with everything I’m doing. Um, I, I realized that, you know, I grew up international and you talked about having a experience overseas and how that can really, uh, be bring great perspective. I was born in Mexico, lived there for two years. Don’t remember much of that, but my mom’s from Switzerland and, uh, we would spend summers there.

[35:25] So I’ve probably spent, you know, uh, two, three years of my life in Switzerland, uh, throughout the years. And I lived in Germany then for a year as well. And I realized that when I was thinking about what I want, how I want to design my life, how I want to design my family’s life. I realized that, you know, they’re not going to have, my kids are not going to have this experience of living overseas unless we make this happen. And if I don’t make it happen, uh, or if I, if I do make it happen the way things were, you know, my business would just kind of fall apart. Um, if I left for a year, if I’m mainly selling, selling real estate, you know, that’s just going to kind of hurt me for years to come.

[36:03] I’m not just the year that I’m gone. Um, so that was a big purpose driver for me to, to create a sales team to kind of intentionally design my life so that I could have the freedom to, uh, have my kids experience an overseas year. And we figured out the best time age wise for them so that they, A, can remember it and B, don’t hate us forever because we took them out of their senior year of high school. Things like that. Like if you’re not thinking intentionally and planning your life, you just, that won’t never happen. And so that’s been a huge reason for everything I do. And, um, it’s just such a good practice. Yeah. Couldn’t agree more with you, Dave. There have been a million, uh, golden nuggets that you’ve dropped along the way so far.

[36:51] Uh, but I’m curious if you have anything that you’d like to share with the audience. Yeah. I guess the last thing you had asked the question earlier, just to kind of come back to, uh, because this is one of the, you know, real passions that I’ve had, uh, which is actually creating this, uh, software, uh, program. Yeah. I want to talk about that. Yeah. Thanks. Yeah. Because I struggled so much. I mean, for, for 20 some odd years, right? Investing. I mean, you’ve got all these different real estate assets. I mean, how many of you have more than 20 different spreadsheets on different assets and then you cannot have one dashboard that says, okay, what does my passive income look like this month?

[37:30] Right. Across, you know, 15 different assets. What does my true asset allocation look like? And that could consist of maybe, you know, my wife’s 401k. I’ve got some crypto. Uh, I’ve got all these real estate assets. I’ve got a business. Like, how do you even make sense of all of that? You know, do you have a central repository? Whereas if something actually happened to you and you needed to explain that to your wife, like how is she going to, I mean, let’s face it. We all do really complicated stuff in real estate, all these deals. How is your spouse going to figure that out? If God forbid something happens to you. Right. So I’ve been struggling with that challenge to really try to run my portfolio like a business because we have a family office.

[38:13] Um, so I’m really excited that we have launched a Pantheon wealth OS. Uh, we’re actually giving free access to the first hundred users that sign up at Pantheon wealth OS.com. And, um, it’s basically that you’re going to be able to see KPIs, uh, on all of your passive income. You’ll be able to drill into your assets around real estate, around alternatives, uh, do full modeling, do analysis through AI level, you know, kind of analysis and modeling. Like what if I, you know, sell this asset, right? How does that impact my taxes? How does that impact my passive income, my asset allocation, right? And understand all those things so we can make smarter decisions. And at the end of the day, you can’t improve something unless you start measuring it.

[39:02] Absolutely. Uh, so true. And actually I was just having this conversation about do, you know, does it make more sense to, uh, save up capital now, uh, to invest in a, you know, a larger syndication or sorry, larger commercial type deal or invest into syndications. Do I need the tax write off now? Um, and yeah, that sounds perfect for that kind of thing. That’s really cool. Yeah. Thanks for sharing that. You bet. Um, yeah. Sorry. Is there anything else you wanted to cover yet? Nope. Cause you’re, you’re, you’ve got a lot of complicated things happening. Yeah, I know. I, I, uh, that’s why it was interesting. You asked me that first question, but, but really Matias, right. I see this, I’m a problem solver and an innovator, right?

[39:45] So as an investor, right. We all get into real estate cause we want to build wealth, right? That’s one of the biggest drivers, but somewhere along the lines, right. It might become a job, you know, sometimes, right. Or we’re losing track of our wealth or where are we headed with this whole thing? Right. So I kind of see this as always, you know, I’ve tried to create solutions, right. For me as I’ve built my wealth and now for our, you know, high net worth investors as well, like advanced strategies that you just don’t hear anywhere else. Right. You know, one of the other things we do is cash value, whole life insurance or the infinite banking, right. Which is such a great, uh, tandem for real estate investors to kind of take over that banking function, have access to capital.

[40:28] It grows tax-free. You can borrow against it, right. To go into deals and different things, but there’s just so many really cool, I think, advanced strategies that no one’s really talking about that can exponentially grow your wealth. Yeah. Yeah. It’s such a, you’re absolutely right. And I think, I think learning these things is so critical and that’s kind of one of the, like, I think one of the motivators for this podcast on syndications alone is just like, I don’t think agents realize, uh, their, the, what advantages they have as a real estate professional tax wise and how much syndications could help. Uh, you think about an agent that’s out there just, uh, you know, doesn’t have time to think about investing is, is just super busy selling tons of money could qualify as a accredited investor because they, you know, make well over 200 or $300,000 a year.

[41:19] Um, and just have no idea about what a syndication even is. Yeah. But yeah, no, that’s great. Um, so did you have any other, uh, golden nuggets you wanted to share then? Yeah, no, that’s it. I mean, I, I guess I just wanted to, you know, let folks know, you know, if they wanted, uh, I wanted to give your audience really a special gift. Um, if they found any of this interesting and helpful, I kind of lay that out in my book. Uh, you see, you could just go to holistic wealth strategy.com and download a free copy of the book. Awesome. And then other than your book, uh, do you have any other favorite, uh, books that you can recommend or that you currently love? Yeah, so many good ones, um, out there.

[42:02] I think, uh, 10 X is easier than two X, uh, by Ben Hardy and Dan Sullivan. Um, you might’ve heard of who, not how, uh, those guys also wrote that, but I know I’ve had Dan on my show. I know Ben, I’m in a mastermind group with him, but they’re just, um, just a phenomenal thinker around psychology, motivation, and all of those things, uh, for really anyone entrepreneurial or just, you know, even sophisticated investors really trying to, you know, trying to go 10 X, right? This whole approach is not for people who want to be average, right? Right. You know, if you’re seeking alpha, seeking optimization, going for 10 X, uh, we have to constantly study, be lifelong learners, uh, and educate ourselves.

[42:49] And there’s some just, uh, great, uh, concepts there that will help you break through some ceilings. Yeah. I love it. That’s a great book. Um, and then finally, where else can people find you if they want to follow you on social media, uh, or any other websites you want to share? Yeah, just pantheoninvest.com, uh, is our site and we’ve got all of our socials up there. Uh, we also run a podcast called, uh, wealth strategy secrets of the ultra wealthy. Um, so that’s a good, good place. We’ll have to get you in Matias and, um, um, yeah, so that, that, that’s really the best place. Can you spell Pantheon for us? P A N T H E O N. Just like the building in, in, uh, Italy. Perfect. Awesome. Well, Dave, thank you so much for being on the show.

[43:36] It’s been a very educational one. So I’m sure people will get tons of value from this. Awesome. Thanks for having me. Thanks for listening to the REI agent. If you enjoyed this episode, hit subscribe to catch new shows every week. Visit REI agent.com for more content until next time. Keep building the life you want. All content in the show is not investment advice or mental health therapy. It is intended for entertainment purposes only.