YOUR DAILY REAL ESTATE INVESTMENT SHOW
May 24, 2022

Capital Raising, Apartment Syndicating, World Traveling, Digital Nomad Derek Clifford

Capital Raising, Apartment Syndicating, World Traveling, Digital Nomad Derek Clifford

In this episode, we speak with Derek Clifford a successful single and multifamily real estate investor, adding 13 out-of-state units to his portfolio in his first year of acquisitions while working a full-time job. Today he is a multifamily investor...


In this episode, we speak with Derek Clifford a successful single and multifamily real estate investor, adding 13 out-of-state units to his portfolio in his first year of acquisitions while working a full-time job. Today he is a multifamily investor controlling 200+ apartment units with over $20M AUM.

He is also an author, and podcast host of the “Elevate Your Equity” show. He is the founder and CEO of Elevate Equity, a firm that partners with individuals and companies to purchase, improve, and operate cash-flowing multifamily apartment real estate.

Derek published his first book “Part-Time Real Estate Investing for Full-Time Professionals,” in 2019, which has helped several people get started on the path of growing their passive income on the side while working a full-time corporate job.

Derek is a passionate educator and partner in cash-flowing real estate and has a goal of helping 2000 couples achieve financial independence by leaving their full-time work situation to do what they REALLY love with their time and resources.

Derek tells us how we can unlock the 3 degrees of freedom (time, location, financial). He also talks about working with your spouse and the AirBNB Nomadic adventure while working on REI full time.
He also gives us advice on how to believe in ourselves and act out of wisdom instead of fear.

Derek changed my life and I know he can change yours too!

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I learned at a young age that people do not really care about you, they only care about what you can do for them. Then I got to thinking, how could I leverage that into helping me build a career. I said early on when I started selling real estate that I wanted to be the place where everyone came for information and I would sell real estate along the way. Well so far that has worked out really well, as I close in on 1 billion in real estate sold, I am proud to announce that I am just getting started. We are excited to roll forward to next year and the next and the next by providing the value people look for, by giving them information and helping them out when they need it, and selling a little real estate along the way. Let's learn together, yes together I want to learn from you as well.

Transcript

Casey Brown  0:06  
Hey there, and welcome to today's episode of cash flow Pro, your daily real estate investing podcast and You Tube channel. I am here with Derrick Clifford of Elevate equity. Now, this is going to be a discussion like many of you have never heard before, at least parts of it, I can assure you that Derrick is probably the closest thing to an idol that I have, for many reasons other than not spiritual or not anything like that. But Derek is what is called a digital nomad. And I didn't even know this term existed there until I met you in Colorado a few months ago. And at that point, I've just been like my entire life goals shifted, because this man is living a life that many folks like myself want. So Derek, how are you today?

Unknown Speaker  1:06  
We're doing so good. And Casey, thank you so much for having me on the show. I'm excited to be here.

Casey Brown  1:11  
Absolutely. Man, I can't wait for the folks to hear your story and stories, because I know that I probably know you just a little bit better than I guess a lot of guests I have on here partially because we we I just we spent 30 minutes talking actually Derek spent 30 minutes talking I spent 30 minutes with my jaw on the floor. I was so amazed at how this works and what it is and how it goes, man. I know so so for the listeners just for a little context. Derek is joining us today from Portugal. And he and his wife are there for I think he said three more weeks. And I'll let you get into everything that goes on. And then of course, we're going to dive into what the digital nomad lifestyle is, what it what it's what it tends to lend itself as far as lifestyle and all that goes. So man, go ahead and tell us a little bit about how you got started, where you gonna start it and then we'll go from there.

Unknown Speaker  2:08  
Yeah, for sure, man, thanks for giving me the space to be able to do this. And I'll try to keep it as brief as I can. But basically, I ended up starting out investing in real estate completely on accident. My wife had purchased a condo in Washington State as an investment for her to be able to live rent free or basically just live in a place while she got her a doctorates degree. And unfortunately, your timing couldn't have been worse, because she had purchased it. I think it was in June of 22,008 or something like that. Literally three months before the crash. Yep. And once she had purchased it, the crash came and within six months, her condo that she had purchased at $250,000 was worth 90. So she had this very like it was deeply underwater, like we're talking, you know, Atlantis level, underwater on this on this condo. And after four years rolled by and she was ready to graduate and move to California for her residency. We still couldn't sell the property because it was so far underwater still.

Casey Brown  3:12  
Sure. So wants to take that kind of loss, even if it even if you could afford to are there there's no way we

Unknown Speaker  3:20  
could afford it because we were starving. surance Right. Like I had just gotten out of school. And I've been working for a little while for an oil company. But we didn't have that kind of money. We didn't have, you know, 80 $90,000 to make up the difference. So what we ended up doing was we rented out the place, right? At the time, you know, we were both looking for ways to create passive income. And I was very much into the Dave Ramsey thing. So I was saving up a whole bunch of money, us doing cash envelopes, trying to do everything I could to put as much money as I could away, shut down the debt, and then invest in the stock market. Right. And you know, as we got our tenants in the property, and we started driving from Washington State down to Northern California for her to start her job. We got our first check in the mail, and we got our true taste of mailbox money, or Yeah, we looked at the check. And it was like, wait a minute, you know, if we were able to do this on accident, what would happen if we really leaned into it and tried to get this going on purpose? Right? Sure. So you know, after that, like kind of Pandora's box opened, right. And so we started going down the BiggerPockets route. A couple years later, we ended up buying, you know, 16 units in our first eight months of of investing because we were working in the California Bay area, making these really high salaries, able to buy and do lots of damage in the Midwest. Sure, with that with that salary. So after that happened, we started doing we ran out of loans, right because that's after about 10 loans. You can't really do any more single families. So we started looking into the commercial room commercial space. Did a JV with a couple other guys out of California got an 18 unit repairs. I should have done, pulled my hair out a few times, cutting my teeth and making every mistake you can make on that one. Yeah. And then smartened up and got myself a mentor in the multifamily syndication space because I was running out of money, right? Yeah, I could only put so much in. And so now it was time to gather money from other people and try to make it happen so that you bring your sweat equity to the table. Sure. So started working with Vinny Chopra. And then after that, you know, got my website launched, branded, wrote a book, launched a podcast, really got excited about real estate investing, answering questions about people in the office while working a full time job. Yeah, how to do this. And then started raising capital, found a few properties to invest in and then started doing my own joint ventures and syndications. And, you know, we, I would say about a year and a half ago was when we really started ramping up because we went from having no multifamily except for that eating unit. Now having over 400 units, at least in some way, or form as a joint as a either a joint venture with major equity stake or as a capital raiser with GP shares. Awesome. That's kind of that's our story.

Casey Brown  6:08  
Pac Man. That's, that's so great. And and, you know, there's something to be said too, about, about a husband and wife going at this together. Because there's, there's many, for one, there's, you know, there's a, there's a lot of different moving parts, and especially when you can kind of delegate that and both understand what the ultimate goal is. I really just I couldn't quite let that go by without just at least putting a little highlight on that. And that's, that's really just and of course, I've met your wife, and she's a, she's a lovely lady. And I'm assuming that that, that you all are like, do you have those tasks? Like just things delegated throughout the day that, or the daily stuff that like, maybe, hey, she takes care of this? Or you take care of me? What does that look like?

Unknown Speaker  6:56  
Yeah, absolutely. Good question. So, yes, we are partners in everything that we do, she has her own business, and I have mine. And we are partners in each other's businesses. So I step in and help be her integrator for the things that she needs in her business. And then for mine, she helps by providing relationships, capital, and then also helping with social media. So a lot of the stuff that we're doing behind the scenes, like she is basically writing all the posts, she is helping with a lot of the bookkeeping, a lot of those things where I am more in the front facing role, working with the virtual assistants and working with everyone to try to get all the all the plates moving, sharing deals, doing analysis, a lot of the spreadsheet work a lot of the integrated work. So yeah, we're definitely partners. And you know, without her, I wouldn't have the vision to even do what we're doing right now. And it's really incredible to be used to have your spouse with you.

Casey Brown  7:52  
She seemed very visionary. And that was that was one thing again, again, both of you just struck me as as that. So with that being said, I want to I want to kind of tie a few, a few of these things together. And then we'll get into the whole the lifestyle stuff that we've talked about. And that's just kind of the I think that's more for discussion purposes than it is necessarily capital raising and real estate investing. But as I prefaced this conversation, the the earlier part of this was you're in Portugal right now. And of course, you have real estate deals happening in I'm assuming you haven't done anything outside of the US as far as real estate, capital raising and stuff, have you?

Unknown Speaker  8:38  
That's right. Yeah, we're mostly in the US right now.

Casey Brown  8:41  
All right, so So with that everything, so you're in Portugal, and the things are happening in the US on a daily basis? What does the what does the network of people look like over here that you've got to kind of pick up the slack for you being over there?

Unknown Speaker  8:59  
Yeah, you know, I'm glad that you asked that question. Because it's a lot of, you know, hesitation that I sense from people who are looking to maybe do something similar. The internet has enabled a lot of different things these days, right? With a little bit of organization and creativity and the right people who are willing to engage with you and are incentivized to do so you can do quite a bit from anywhere in the world. And that's kind of what we noticed when we were doing this business. For instance, every deal that we do, we have at least one equity partner on the general partnership side that lives in the city in which we're investing. Okay, so if we're offering and we're looking to put a deal together and movil, then we'll have someone that lives in Louisville that's there or from doing something in Indianapolis, we'll have an equity partner that's there in Indianapolis as well. That way we have a boots on the ground contact to help sort through some things and they're incentivized to help us because they have equity shares alongside of everyone else in the investment.

Casey Brown  9:56  
Now, what does that process look like? Like when you call somebody and you're like, hey man, do you want to or Hey, wanna Hey, lady what I used to be, I hate to say like, we're just men and this but or if you just say, hey, I want you to be a partner in this deal with me, and I'm gonna give you these GP shares. What like, do you? How do you find those people?

Unknown Speaker  10:19  
Yeah, you know, I obviously it's, it's a very long term relationship, because there's a lot of, there's a lot of moving pieces here, the first thing to know is that whenever you're getting into a partnership with someone, it's like a marriage, it's a business marriage, right. And so when you're married to these individuals, you want to make sure it's the right person. And that usually begins with a very long term relationship. There's networks that come behind this. And there's this kind of triangulation process where you talk with other investors who may have worked or had an experience with the person you're contingent considering partnering with? Yeah. And so you got to tap into those networks and say, Hey, is this person like, what do you think of this person? You know, have they been doing well for you? Or what's your feel on this individual? And so I think that, that, that combined with the fact that if you know, this person for over a year, or you know, especially, ideally over two or three years, yep. And you've you there's no red flags. And then the third hint, I would say, is bring in your spouse to talk with the person. Because if your spouse can identify some red flags right up front that says, hey, you know, this person is, I don't trust them at all, that's something you need to walk away from immediately. Yeah. I mean, that

Casey Brown  11:31  
gives you just those different, like, it's just that that's very wise, because it gives you two different angles. And some things that that ladies might pick up on are some things that maybe I might just gloss right straight over, or vice versa. Very, very interesting strategy to picking up and figuring that part of it out. Because one

Unknown Speaker  11:54  
other thing I wanted to say to you, Casey on this, just to add to this to the coloring, so on a couple of our properties. In Indianapolis, we have this strategy where, okay, let's say we have two property managers, property manager, a property manager B, and then we've got property one and Property two, well, what we're doing these days is we are taking property manager A, and putting them in the ownership team of property one, property B, property manager B is running the management for the for that property. Sure, then Property two, it's the other way around, where we have property manager B in the ownership team. And then A is doing the property management for that. So that way, you have not only complete visibility with these property managers in the ownership team, you're getting this like, I don't want to say that sense of competition, but you're getting these two property managers who are seeing what the other is doing. Yeah. And it's kind of like, they know that there's a common thread, which is me, you know, across all of these, that's looking at both. And so it's a great way to incentivize a having a great boots on the ground partner who is incentivized to do well, and can know the nuts and bolts of the property down to the day to day operations. So this is something I thought I would pass along to about building the team.

Casey Brown  13:09  
Man, that's Oh, my gosh, I mean, that's so that's just almost integrates at all like, it's like, it makes it where it's, again, it brings it back to being almost self self sustaining. I guess it's probably, exactly. Or self contained. Yeah. And so, so with you being over there, and you have you have one partner on the ground that you've known for so many years. AND, OR, AND OR, and you said you give them the Jeep part of GP shares, right, correct. Yep. All right. So we've got the property manager management part covered, we've got the boots on the ground as far as the person that just strictly straight up answers to you or answers to the partnership. That's talked a little bit about the capital raising side. Do you run into part of the reason why I asked that question about you living in Portugal and, and owning properties in the US is, how do the investors take that and when you're raising the capital, and you're you're looking at saying, hey, I want you to invest with me, by the way, I'm in Portugal and the properties in Seattle or whatever. And so yeah, I just want to know how that looks from that standpoint.

Unknown Speaker  14:32  
Yeah. And also, like, I'm posting stuff on Instagram with me on the beach and everything. I kind of know where you're getting that here. Yeah, I totally, I totally understand. Yeah. And I think my, the investors that I work with, have built a personal relationship up with me and so they know that me living this lifestyle is just part of who I am, you know, and even though we're out here, you know, vacationing, I explained to them that we're still working just as Hard as we are in the United States, just because we're not physically in the US, doesn't mean that we're not working hard, should always remind them that, you know, they're always getting preferential treatment, which means they're part of a press return where when funds come in from the property, they're the first ones to get paid. And they like this lifestyle, a lot of people that are working with, see this lifestyle, like, man, that's really great. Like, I want to be a part of this. And I tell them that one of the best ways to do this is to start investing in real estate, learn how to do it as a general you want, but in the process, work with me as a limited partner so that you can see how I'm doing this. And you can spread this out to people that you know, and eventually do the same thing for them. Yep.

Casey Brown  15:42  
Well, I guess without further ado, you've made the mention of the word the same word that I made mentioned earlier. That's lifestyle. I guess let's dive into a little bit. I think there's a part of this that people are probably wondering, why is this guy in Portugal? What's the whole deal with this? So once you go ahead and start with start with the, I think you all kind of got going in the Bay Area? And then, of course, your wife and her business and how that all looks? So go ahead and tell us what what is? What is being a digital nomad?

Unknown Speaker  16:19  
Yes, so a digital nomad is basically a couple or an individual who doesn't have a fixed home at all. So that's more or less, you're basically traveling from place to place. And as long as there is an internet, hence the digital, and you have a place to stay, hence the nomadism, then you can do your job, and you can sustain your lifestyle and quite well or quite comfortably. So we kind of fell into this because of COVID. And, you know, we're big believers of the three degrees of freedom, we talk about that all the time, which is location, time and financial freedom. And a lot of people look at this financial freedom thing, or the fire movement as like one giant thing, like you got to do all you got to be financially free, and then you can go live your life. Well, I don't necessarily quite agree with that, because it comes in layers, right? You have this location freedom, which many people from the COVID era now have currently, where they can literally pick up and as long as they have an internet connection, they could be somewhere, there's that location freedom, then there's time freedom, which is the freedom to be able to choose what to do with your time, that comes a little bit later on. As you get more into the business world. Maybe you set yourself up with a flexible situation where, you know, you can work a job as many hours as you want to. And when you want to, to a certain degree, that gives you some time freedom. So when you have location, freedom and time freedom, that gives you two degrees of freedom to live your life how you want, right, you can live anywhere, and you can for the most part control where your time goes. If you don't have the financial freedom, or the cash flow, to be able to support the lifestyle you want, you can only do it for so long. So it's these three layers, right that you can start to tackle these degrees of freedom and, and we decided to realize, we realized that you know, what we need to start looking for these get artists degrees of freedom out there. Let's start with location freedom. So what we did was we sold our house in May, and start traveling around California, right. And I was still working a full time job in May last year. But as I was traveling, you know, we had the freedom to live in Lake Tahoe and California go up north towards Oregon, like we could live anywhere you want to as long as we had an internet connection. But then I started to I started to wonder like, you know, what would happen if we really bet on ourselves? Yeah. And do we owe it to ourselves to do that, because when we sold our house, because of COVID, we had all this excess cash coming in from the sale of our home, which some of it we invested in various places, and the other we had to live on for a little while. And so we said, You know what, let's make the jump, like the worst thing that could happen. Casey is I just got to go back and get my full time job again.

Casey Brown  19:02  
I couldn't imagine. I couldn't imagine. I thought that'd be terrible. You know, and I will interject there. And you know, when I first graduated college and started working, I worked for somebody. And then as so this is like one more layer up because when I started working for myself, I was like, Man, I couldn't imagine having to go back and somebody telling me what to do this, this and this and you're, you're like I couldn't imagine having to live in one spot and have to go you know, so it's so it's just like, it's like one level further than even the separation of somebody having working for yourself. I guess so. Man, and so give us just a little rundown. So So you started in in. You said you lived around like Tahoe for a while. So give us a little rundown of some of the some of the places you've lived.

Unknown Speaker  19:56  
Yeah, you know, I can show you guys a Google map on on on the screen, but basically we started in California for the first couple of months, we went down to Palm Springs first down in like the resort the desert areas, then went up like towards Yosemite, California where they're like all these amazing trees and gorgeous nature. Then we went from there to Lake Tahoe and then from Tahoe. We went to Reno, then Reno to Salt Lake City, and then Salt Lake City. We went to I think, Kansas City, for Oh, yes. And then we were in Colorado, definitely, because we had like an event there. And my mom, dad lived there. So we said hello to them. Then we went to Kansas City, St. Louis than Indy, we were in Indy for like a month. And that's where, like, the whole leaving the job, things started to really materialize. And I kid you not Casey. So we had the two degrees of freedom, right? We had time, and we had location, yet I didn't have like any sort of income source coming in. Like we knew that I had a reservoir of cash. And we had full control of our expenses. And that's another thing I really want to pound home to some of these people that are listening is that you may think you may not be ready for this. But if you're living in the California Bay area, there's like a $7,000, mortgage, you know, food and taxes, another $2,000 per month on top of that, right, all that stuff. Sure. So when you're traveling about, we're actually cutting our living expenses down to like half of what we were living in the Bay Area, and that's with us moving. And so that's really what kind of got the gears going in and got us to a point where we had our time, freedom, location, freedom. And now that our expenses were lower, we had some passive income coming in from our real estate investments. Sure, that put us in the financial freedom bucket because we had full control of where to live. Does that make sense?

Casey Brown  21:48  
Make sense. And it makes? It makes perfect sense. I mean, it's so

Unknown Speaker  21:52  
yeah, absolutely. So when we got to Indianapolis, right, once we got there, that's when leaving the full time job made full sense, because we got four deals under contract, right because of this. And I think that people who we've been working with, like investors have been watching the story and super, they were super excited about what's happening in our life. Yeah, the brokers that we're working through, like, Man, this is freakin incredible what you're doing, let's do this, like, let's get these deals going. Yeah, we got all four of these deals closed in the next like three to four months. And everyone was super excited, we were all super excited. It's just, it's just been an incredible life. And it's just a testament to how, as soon as you close the chapter, or close the book on one part of your life, yep, another one will open as long as you do the work, you know, you're working so hard at a side hustle. If you have something to jump into, people are going to sense the excitement and you your own energy, you're going to step into it. So a lot of this was trusting myself, my wife was really instrumental in helping me understand that making the jump away from a full time job into our self governing, like, you know, we're doing our own business type of thing. We're gonna land on our own four feet. So a lot of it was getting out of my own way. And yeah, from there, we just kept traveling. So yeah, I

Casey Brown  23:07  
think there's, I think there's a good lesson to be learned and exactly what you just said, getting out of your own way. Because I've even experienced this and I think I'm sure that that the thing is, is that if I've experienced it, you've you've experienced that there's a good chance that that there's a pretty good vein of people out there that are the same way and and sometimes just getting out of your own way or knowing that you need to get out of your own way is like a like that's not even a small win. That's like a big win. Because once you realize that in the the thing about what you've got going on that I think a lot of people probably struggle with, and probably myself included, is the control the control of saying because I know when I was overseas a couple of months ago, we've got ring cameras in our house now of course you don't have a house here so that's not necessarily a big deal but we've got ring cameras and one of the things that that almost to a certain degree kept me up at night I guess if you will, was me going to sleep knowing that it was afternoon at my house and waking up and seeing some random ring camera activity going on. Now of course thank the good Lord, nothing happened. But what I'm getting at is is the the control of what was going on here. Or even worse, it being middle of the day over there and my my my we're in camera going off and it's a cat Walker crowd but it's still it gets your heart pumping, and you just so so that can so the control of things is really something that I feel like a lot of folks would have to get over and I want to know if that was something that that maybe you struggle with or something you had to come to terms with that hey, I just I need to just kind of Let all this go.

Unknown Speaker  25:01  
Yes. And you know, I have to admit that it is still struggle, it always will be for me, because that's the type of person who I am sure, I'm an engineer by training, I like to take responsibility for my investors and for myself and all my decisions. And so sometimes, you know, it gets to a point where it just isn't like, it's, it's self destructive. And my, my wife has been super helpful in helping me understand where these blind spots are that where it makes sense to think about and where it doesn't make sense to think about these things. And it's a little bit of like a, you have to detach yourself, because what control do we truly have? I mean, let's be honest, like taking your example, Casey, like, if something did happen to your house while you're abroad? Yeah, what can you really do? Like you can call the police? Maybe?

Casey Brown  25:50  
I mean, that's yeah, like, what

Unknown Speaker  25:52  
can you really do? So at that point, it's kind of like, it's almost in, you know, in God's hands anyway, that surely. And so that's kind of what we figured is, you know, we can we can act from a place of wisdom, or we can fear and we've chose to believe in ourselves and know that things are going to be right. And that's kind of how, like, this whole money thing worked with us, like I had been, so like, controlling about the money side, like doing the Dave Ramsey thing, like they want to get out of debt, doing all that. And right now, like, when we went into this thing, we had no source of income coming in. But we had full control of our expenses, we had a reservoir of cash, we had full control of our expenses. But I still was miserable every day, because it's like, we're not making any money. And we're spending money every single day, right? Nothing's coming in. But eventually, you come to a point to realize that if you need money, you'll get it, you go back to work, you just you just handle it. Like it's just the way that life rolls. So there's no reason for me to worry about that. And people sense that abundance, people sense that, yep, people need to hear it in your language, and then just attracts more and more people so well up there.

Casey Brown  27:00  
And you know, and there's a lot of there's a lot of psychological plays on that too. Because the thing is, and I noticed this when I went through divorce several years ago, and I remember my real estate sales business, all of a sudden, you know, like my real estate sales business was booming and blowing and going. I mean, I just I couldn't, for the life of me make a bad move. I mean, I hate to say that, but but, but then all of a sudden, once my mind was shifted off of that, because I had other things I needed to be worrying about. It killed it, it was like somebody took it out back and shot it. And so I was just like, it was very, it wasn't anything more, I think, then the potential clients sense of hey, so I'm gonna kind of shy away from this, because I think there's a you know, what I'm saying? So it's the psychological stuff that I think is, is almost more at play than actually just cashing the check. You know what I'm saying? It's 100%. True,

Unknown Speaker  28:05  
Casey, like, I think that, you know, I heard this from one of my mentor, I think it was Vinnie, or maybe it came from someone before that. But in any event, what they told me was, you can tell how much money someone has in their bank account, or how much they're worth based on their mindset. And if you have a seven figure mindset, and yet your bank account is only showing the $100 in it, it's just a matter of time before the world catches up to you. That's right, that's just the way that it's going to work. And the vice versa is true as well, right? If you have a five figure mindset, and you have a million dollar net worth because of inheritance or loss, or something like that, the world has a way of evening itself out. And so the lead indicator is always the mindset, what type of mindset Do you have, that's going to determine your capacity, how many problems you're willing to solve, to help other people, how you're going to protect yourself, the quality of your network, all of that is determined by that mindset. And it's definitely the lead indicator. So that's what we were exercising here for, for our advantage.

Casey Brown  29:13  
Yeah, and that's man and that's, that's, I think, so true for so many people. It's, it's all about a mindset. And I, I've been there where you're looking at all the Instagram and you're, you're scrolling and everybody's telling you well, it's all about mindset, or it's time to level up or this idea there and it's like, that's really easy to say to somebody, but then when it comes time for my kids to open the bread drawer and there's nothing there. It's like you have to find a medium where you kind of pull from one to get to the other and so anyway, but But man, we could go on about that stuff for days. It's just so intriguing to me that that there's and I guess that that that lifestyle has probably existed for quite some time. I mean, especially if you're not I think Airbnb definitely put some fuel on it. What does just real quick before we've got to jump off here? Because we're kind of we're kind of running out of time. But what what do you so basically, you all could handle a pretty considerable increase in the costs of Airbnb, if you're only half of what you would be owning something in the well, I guess the Bay Area's a little bit of a stretch for most of us. But owning something, and maintaining something and taxes and all of that stuff, you've got some pretty good wiggle room there to say, hey, if these Airbnbs continue to rise, we can live this way until it gets to this. So is that kind of in the you know, is that kind of something you're watching?

Unknown Speaker  30:48  
Yeah, you know, I think I think that it's just the nature of the industry and the nature of society in general, right now as to become more mobile. I'm starting to notice that individuals who are able to leave their, their their, let's say their full time digs, right. They have travel itches, and they want to do that. And I have a feeling that as the newer generation gets older, right, like, as our generation starts to get into, like, where the boomers are now, our kids, for instance, I believe that they will be increasingly in a society where it's very common to own nothing. Yeah. Where we have the rental economy for everything, right. And I just believe that that's the model. So I think that even though Airbnb is doing it with a certain way, I think eventually there's going to be maybe a cryptocurrency type thing going on, or like some organizations or investors that specialize in this type of thing themselves. There's not gonna be Airbnb and VRBO that's doing this. I just think that it's so appealing to to live like this. Yeah. That it's it's going to be more of a thing I know if you have kids is different. But I'll tell you right now, Casey, like we have between my wife and I, the only thing that we own right now is literally six pieces of luggage and a car in the United States. That's all we have.

Casey Brown  32:06  
How do you get around there just to train and buses and stuff?

Unknown Speaker  32:12  
Yeah, I mean, you can rent cars out here, right? If you need to, but generally, Europe, they have fantastic public transport. And the cost of living out here is is on par or cheaper than in some of the places in the US that we were living in, like the Bay Area, for instance.

Casey Brown  32:27  
Sure, yeah. You know, and then that's when when, of course, prices have gone up. But when we stayed on the Mediterranean and South France, I mean, man, it was like, like that room, that room. And in a condo complex, and even Gulf Shores or somewhere that's, that's somewhat of a reasonable destination. It was like a fourth the cost of that on a on a nightly basis. So it was, but but especially if you're, you know, if you're building out that passive income stream, and everything is kind of coming together like that, I mean, man, that's, that's killer day. So all right, well, we're running out of time, but a couple of different things that I want to do. The first thing I want to know is, is what is the best book that you have recently read or hoping to read in the near future?

Unknown Speaker  33:12  
Man, there's so many unknowns. I think that the the, the best one that I've read beyond the one thing is the gap in the game, that book has completely changed our lives, right? And it came out in the right possible time. Sure, it just talks about how a lot of people set goals by looking and comparing other people and where they should be, quote, unquote. And that's like a lack mentality. Instead, you should look at where you are right now, and how far you've come based on when you started this whole adventure. And then extrapolate from there based on the past and gratitude and not looking from lack in comparison.

Casey Brown  33:52  
And that's great. All right. And I know this is gonna be a little bit of a twist and question for somebody that basically vacations on a daily basis. But where is if you had to stop everything and say, hey, I want to take and go somewhere for a week or maybe even somewhere that you've been on vacation to what's the best vacation you've either taken, or hope to take? Man,

Unknown Speaker  34:16  
there's so many places on the bucket list right now, but I will give a tried and true answer. There are so I used to live in Germany. I was I did my undergraduate I did one year of living abroad in Germany. And I lived in Berlin and Munich. And there are places outside of Berlin and Munich where they have little bath towns where basically you just rest and relax, they have mineral waters and all that. And so I would say like, just the bath, the bath the thermal baths called Tim, in Germany are one of my favorite things to do. And there's a whole bunch of them outside every major city so that would be okay to take a vacation for sure.

Casey Brown  34:52  
Awesome. Well, definitely something outside of the normal that we hear on here. I like that. Okay, so Uh, maybe somebody heard something today that they want to reach out to you about or maybe they're, they're even potentially saying, Hey, I'd like to invest that guy so that I can further my story by by hearing his story or whatever the case is, how can the listeners reach out to you if they'd like to get in touch with you there? Yeah, yeah,

Unknown Speaker  35:17  
we would love it. And thanks for giving the space here for that. Sure. Everything is available on our website, which is elevate equity dot o RG. Of course, you guys can email me at Derek at Elevate equity.org. But everything is pretty much there on the website, our podcasts, our blogs, videos, to our YouTube channel, everything is pretty much on their end of book that we released for working professionals or wanting to do something on the side. And then we have a whole bunch of free stuff out there, you know, lead magnets, all kinds of great things that, you know, ebooks out there, like everything that you could possibly want. We we've got you covered. So come check us out.

Casey Brown  35:55  
There. That's a good deal, dude. Well, thank you so much for your time. And I appreciate you sharing everything about from from getting started in the capital raising business to the digital nomad lifestyle. And if you heard something you want to reach out to Derek about today. He gave his email that's elevate El VELEV at EEQUITY. There will also be a copy of that website, the web address in the show notes. So there thanks, man. I hope everybody has a wonderful rest of the day.

Unknown Speaker  36:25  
This was a blast. Thank you sir.

Unknown Speaker  36:27  
Thank you

Transcribed by https://otter.ai