“We unlocked a future that we could have never dreamed of. And it changed the trajectory of our of our family.” In this episode of Cash Flow Pro, we talk with Travis Smith, CEO, and Founder of Tribevest. It was in the midst of his career...
“We unlocked a future that we could have never dreamed of. And it changed the trajectory of our of our family.”
In this episode of Cash Flow Pro, we talk with Travis Smith, CEO, and Founder of Tribevest. It was in the midst of his career path that Travis noticed the path to financial freedom lay elsewhere – in real estate. Nevertheless, that route was still out of reach with the capital needed to invest successfully until he decided to join forces with his brothers. Together, they invested their money in syndications and later created their own marketplace that allows others to do the same.
Tribevest is a group investment platform that allows friends and family to get together and organize an investor group, pool money, and manage joint investments. The platform focuses on unifying members and celebrating each milestone along their journey.
In this episode, we discuss:
If you are interested in learning how to create your tribe and invest in real estate, tune in and comment below if you have any questions!
Find your flow,
Resources mentioned in this podcast:
Casey Brown 0:06
Hey there, and welcome to the cash flow pro podcast and channel, your real estate investment daily podcast. I am here today with Travis Smith have tried best and I'll tell you this interview has been one that I've been looking forward to for quite a while because try best really has, like the whole cultural element like like they're they're really digging in and they're really growing fast. And Travis we can't wait to hear a little bit about your backstory, what got you all going? And and really kind of where you're at? And where are you foresee the future? You know, what do you foresee the future hold. And so, Travis, welcome, and thank you so much for the time you've you've cut out here to make this happen.
Unknown Speaker 0:52
Casey, glad to be here. Thanks for having me been excited to have this conversation as well.
Casey Brown 0:57
Absolutely. Well tell us a little bit about about where you came from how you got started? And what what what did the landscape look like when you first discovered the possibility of of of this?
Unknown Speaker 1:08
Right? Yeah, so I think probably like a lot of your listeners, you know, was doing the W two thing had a job. And, you know, definitely realized that was never going to be enough to reach financial freedom, right. Everybody that I knew that had financial freedom was investing in real estate or other types of private investments that to be honest, I had no clue how to invest in them or where to invest in them. There just wasn't that education out there. Again, probably like a lot of your, your listeners, you know, read Robert Kiyosaki, Rich Dad Poor Dad light bulbs turned on. And, you know, wanted to get started to make my way around the four quadrants as fast as possible. And but, you know, as I started to roll up my sleeves and make the commitment to investing in real estate, I realized that, you know, there's there's a barrier of entry there, a capital barrier of entry, confidence, barrier of entry, know how barrier of entry, all these things. So, anyway, what I realized on a fishing trip with my brother's fishing trip that we couldn't afford, was that, you know, if we were going to break in, maybe we should break in together. And that's formed in investor tribe started pulling our capital together. And really, we started off really minimal commitments of $500 each a month. For us at that time, it was 2008, that was a stretch for us. But we did it. And within the first 12 months, we invested in our first real estate syndication, started to learn a little bit more about that market, got into some active real estate, rental short, short, not short term rentals, but single family rentals, did a couple of flips. So you know, every every New Deal was more about learning than anything, like we just kept on leveling up. You know, after each deal, and by forming and funding that investor tribe with my my brothers, we unlocked a future that we could have never dreamed of. And it changed the trajectory of our of our family.
Casey Brown 3:47
Oh, I'm sure now all of a sudden, you that's what I hear so many times is like, and that was honestly what attracted me to the to the syndication business to begin with was, I was I was working on towards wealth that was going to supply me like, like, this is going to be something that I'm going to live with, then all of a sudden, when I discovered this, this whole world of capital raising and syndicating and so on and so forth. I was like, that is the generational element to this. That is the generational wealth to all of this. And when you talk about changing the trajectory of your family, I mean, that's big time stuff. Especially when there's you said Brothers is immoral. So I'm assuming there's at least three of you. Yeah, and so yeah, I mean, that's big time stuff. When you start talking about hey, this is just at the time away, yeah, 500 bucks a month. I mean, now you got car payments that are three times that seems like everybody's wants these $800,000 vehicles. But you know, what I'm getting at is is that's That's powerful stuff. When you start saying hey, we were we were living above our means or or at our means. And now we're going to cut that down and we're going to invest after a year you know, people think this stuff takes decades to do I mean, look, this is You're talking about oh, wait, so you're married 14 years? And right? Look at me now try best is just is just is just, like I said, you know, I heard, I heard you or maybe one of your brothers on a podcast and you're talking about finding your tribe, you know, find like, like that was the big that was the big thing is is that like, like, you may not attract everybody, but you're gonna attract the people that want to be part of your tribe. And that's the ones you want.
Unknown Speaker 5:26
Right? Yeah. And you know what, what really happened is, like you said, you kind of go through that progression of, you know, listen to this for about survival, security, and, you know, doing what's best for you individually in your immediate family. But, you know, what we realized is, it's even more fun, more fulfilling, when we started to extend it to our tribe to my my brothers. And, you know, over the years, again, it's changed our lives. And it actually enabled us to launch try best over three years ago, the build a forum, walk away from our careers, all those things, you know, we could have never done that without, you know, building up a portfolio and cash flow from that portfolio. And now, not only are we doing it for my immediate family, my brothers and my extended family, but now we're doing it for 1000s 10s of 1000s of people, you know, all around the country? And
Casey Brown 6:36
did you say 10s? Of 1000s?
Unknown Speaker 6:39
Yeah, of members on our platform? Absolutely. That's,
Casey Brown 6:42
that's awesome. That's talking about talking about somebody that brought a cultural shift into something that, that, that, yeah, that's awesome, man. So. So tell us a little bit like, like, I know, you all are kind of, into the marketing and stuff like that. And I know that there's a lot of different, a lot of different elements to what you have going on. But what and obviously, all of them are important, but what what do you what do you all have working right now that you think is kind of like the secret sauce?
Unknown Speaker 7:15
Yeah, you know, I think our secret sauce is really simple. Keep it simple, you know, we we streamlined and antiquated process. So we didn't invent group investing. And that's an important thing, like, you know, people have been coming together pulling their capital together, to participate in whatever. And, you know, that's, that's part of this. But we just we took that process that was antiquated, expensive, and had a lot of heavy lifting. And we made it really simple, streamlined and inexpensive. And then, and then we're, you know, we're also providing the transparency. So you know, of course, you've heard don't invest with your friends and family. Yeah. When you ask the wealthy, they'll tell you to invest with the people that you know, and trust. And that's what we help them do. Hey, are you getting a ton of feedback right now? Yeah, that's like, that was really loud. You did whatever you did just fixed it.
Casey Brown 8:27
Yeah, this thing is getting some I'll make sure they edit that out, or at least turn your voice up a little bit. Is that better?
Unknown Speaker 8:33
Yeah, way better. I don't hear it anymore.
Casey Brown 8:38
Come Yeah, I don't know what that is. It's happened two or three times today. I'm trying to record so anyway. Cool. All right. So what's the bear fruit lose weight loss or lost my train of thought? We were talking about you were talking about the
Unknown Speaker 8:59
Yeah, so we were, you know, what I was talking about was the secret sauce is a streamlining process, and antiquated, you know, process and just making it really easy, inexpensive and accessible. And then,
Casey Brown 9:19
as far as the investor goes, the investor being able to come onto your platform, figuring it out, signing documents and rolling on,
Unknown Speaker 9:27
just try it. And then when you got everybody on the same dashboard, literally on the same platform on the same page, you know, people can see the bank accounts, the transactions, the cap tables, they can, you know, have keep track of those cap tables, they can vote, nominate, and vote and keep record of that all their documents are there. So, you know, really, what we've done is de risked and simplified group investing
Casey Brown 10:00
Yeah, yeah. And that's and while simplifying, it is the big thing, and I'll tell you what, you know, I'm reading a book right now about Steve Jobs. And a lot of people don't realize, I guess a lot of people probably do realize I don't want to, I don't want to insult the intelligence of the listener, but what I'm getting at is, is, Apple computers, or Apple in general wouldn't even be here today, if it hadn't been for capital raise, you know, he raised capital, now, he obviously had a good bit of other stuff to go along with it a good bit of coding mine, and so on, so forth, go with it. But, you know, he raised capital, that was his, that was his thing, you know, I mean, they were pooling capital, in order to make this development happen, or, or to push the, the tech development that was going on further down the road. And, and it's just, it's amazing to me that, that, you know, every big business that's been around, and you go all the way back to the time of Christopher Columbus, I mean, they've been raising capital since day one, people pool together in order to create the power that it takes to take down whatever it is you're trying to do. And so, you know, the fact of the matter is, is that it's been a rich man's game or a wealthy game for a long, long time. But people like you are bringing the ability and the ease of understanding of what's going on to people who may or may otherwise not have ever known about it. And that's what I liked about Travis. And that's why I was so excited about getting you on here, because I feel like our listeners are going to are somewhat looking possibly for a little direction and thought maybe you might be able to give them some so tell us tell us about so your your platform, this platform that you keep referring to, you know, we all obviously have the software and the you know, the ability to log in and see and so on so forth, but But what about the what about the deal side of things? What do you all have working on that side?
Unknown Speaker 12:00
Right. So it's we're just focused on managing the group, right in keeping you compliant, protecting those involved in the relationships and, and making sure it's governed by an operating agreement. And, and everything like, that's, that's what we're focused on, we're really deal agnostic. So and what that means is, you can now take any deal on and off the internet, and you now have turned it into a collaborative or multi player, multi partner opportunity. And, you know, you can, you can quite literally find a deal, come to our platform, assemble your tribe, and file your LLC, open up your business bank account, be pulling capital and making a transaction within a couple of days. Hey, never, you never could do that before, before. You know, figure all this stuff out it take you a month, and the dollars to do it. And you're right. I mean, group investing is nothing new. It's how we've done everything big. I mean, you go down the street, and you see buildings, that's not one person putting their money in, that's a bunch of people putting their money in. And, and, you know, everything that that we've done in terms of society and innovation has been done together, for whatever reason, you know, much of the middle class, which includes me, you know, was told not to, you know, invest with people, other people like do it, you have to do it all on your own, and try best makes it so you don't have to always go to loan you can pull your tribe together, you can invest.
Casey Brown 13:51
Yeah, and for somebody like myself, that was one of the biggest hurdles to get over, was any and when you start talking about the passive investor, you know, I've run across passive investors many times who, who, who are just like, it's like, they don't want to worry about changing the light bulbs and plums in the toilets. But they also have have, not necessarily a fear of, of turning their money over, but a fear of somebody else being in charge of their money. And, and for me, it was the same way climbing over that, that, that initial, hey, I'm going to release some of this control, and let a property manager take care of boom, boom, boom and systemize and streamline and take care of these things over here. And so, you know, and then especially and so, when you start looking at that it's almost a mindset. It's a mindset of saying, Hey guys, let's let's take let's take some of the let's take Blitz, take crumbs from a million different cookies, and assemble our pile over here, rather than half of five different cookies. because you're gonna have to do more work for those in those five. So I mean, it's just makes the most sense, when you start talking about crowdfunding, and you start talking about pooling money together. So
Unknown Speaker 15:12
what? Like, I don't care who you are, like writing $100,000 check or a $50,000 or $25,000, check, you know, that's hard to do. And you know, and even if you've done the due diligence on that sponsor, or on that deal, or whatever else, there's always in the back of my mind, like, Man, this is a big check, am I? Am I being smart? Right? Am I being smart. And that's what I also mean, you know, about being able to level up together with your tribe, it's not only about pulling capital, so you can spread your capital across, you know, five, six deals instead of just doing one deal? Sure. You know, it's that confidence you get, if you have five buddies, and you're all looking at the same deal, you've all talked to the sponsor, and you just feel confident, to go ahead and write that check as a collective unit. So yeah, for sure,
Casey Brown 16:16
well, definitely brings that element there, like you said, that the tribe element makes, it gives ease to the anxieties of of, of just handing somebody you don't know $50,000. Now, it doesn't necessarily mean that it's that it's gonna end up, you know, the things aren't going to end up are right, or whatever. I mean, they always can, but I guess what I'm meaning is, is that it just, it at least allows you the initiative to, to hand it over, get started on the investment, get started somewhere and get going moving in a positive direction. So
Unknown Speaker 16:53
right, and well, and but you think about, you know, you have five people that you know, and trust in a tribe, and you're all looking at the same deal. You're looking at it from a different perspective, you're all asking good, unique questions. You know, by the time a tribe comes to the conclusion that this is a good deal, it probably is. Yeah, right. And so again, that's like a little bit of that confidence versus, I don't know, this is my, I don't know what a good, you know, deal looks like or whatever. So,
Casey Brown 17:27
if you're questioning yourself, then you can get some reassurance from the people that are all looking at the same things and the same numbers, but a different but a different perspective. And the other thing, too, is maybe somebody else sees maybe somebody else sees a value add move that that that you wouldn't have seen or didn't really pay attention to or realize was there and, you know, it just it brings it brings both the crowd of the money together and the crowd of the mind together, I just think that both are equally as important. Ones equally as important as the other. So but what are so what are you all? What are you all have kind of moving in the future here? I mean, how how's everything looking? As far as as far as going forward? I mean, obviously, you're on a, you're on a track to success as far as growth goes, but But you know, what, what types of stuff? Do you all have movement?
Unknown Speaker 18:20
Yeah, we're, I mean, we're growing fast. And, you know, what's next for for tribe best. And, you know, there's a lot of online platforms that are, you know, offering deals now. And in the future, you'll be able to, you know, much like you can for Pay Pal, or anything else be able to check out with your with your tribe. The other thing that we're, you know, working on are just other services, you know, more tax services, more bookkeeping, services, legal services, lending services, you know, these are all things in our roadmap. And, but, you know, our big thing is community, and we're actually launching our mobile app here in the next couple of months. And we really think of that as our community layer. So, for example, Casey, you might have, you know, a community on the tribe, best platform, where people are, you know, coming and joining that community and you start to see people leaning in to the good work you're doing out there. Yeah. And connecting those people with you and then connecting those people together. So it's about it's about building that community and making introductions and helping people level up together. Whether it's in a tribe or or as, you know, people are out there learning and, and figuring this all out together.
Casey Brown 19:56
Yeah. Now one thing that I don't know what just made me Think of it. And of course, they're I'm sure that there's some inner inner working somewhere that that takes care of this. But, but obviously, have you ever run into problems with like, moderate, like, say moderation, but like, what happens if what happens is two people in the tribe get into an argument and, and they don't necessarily see things, you know that one sees a the other sees a but they want sees it upside down and the other ones is the right side? I mean, you know, just just just things like that what what do you have to kind of mitigate those circumstances?
Unknown Speaker 20:32
Yeah, I mean, the first thing is, is helping them identify that they're not aligned before they get into a partnership. So, you know, they come in and they get on the same page, or they don't. And, you know, when you launch a tribe, you name your tribe, you set a mission? What are your goals for that tribe? You're creating a charter. So you know, there's a little bit of this, you know, you would you wouldn't move forward if you weren't aligned at some point. Sure. Now, there's also the operating agreement. So as you go through, you're making decisions on how you handle stuff. But of course, in that operating agreement is if anything, you know, did go the wrong way, or there was a mis agreed disagreement. There's, there's, it's documented in how you handle that. Right? So it's never, like, how do we do this, you always have a document that you go back to? And you say, Okay, this is, this is how we handle this, when that situation comes up.
Casey Brown 21:41
Gotcha. And then and so, so you're launching a charter, you're, you're in your tribe, you're taking down deals, or you're, you're, you're basically working in the inner workings of business, I have a stack, I guess, really, for that matter. I mean, you get the operating agreement, and PPE you know, everybody, is their actual subscribers, are the are part of the tribe subscribers, or is the tribe do people subscribe to the tribes? Investments? Right? Yeah,
Unknown Speaker 22:13
so the tribe itself isn't an investment, right. And that's why we keep the costs really low, you can you can build a tribe for $29 a month, if you purchase annually, or $39, a month, month to month. So how we do that is, you know, it really is a co ownership vehicle. So you're not, you're not putting together a syndicate, you're not doing a special purpose vehicle, which as you know, requires registration with the SEC, and a lot more paperwork, and attorneys and all those things. So but what they are doing is they're putting their capital in these partners, these members are putting their capital in to a multi member LLC, we've opened up your FDIC insured business bank account that capital is coming in, and you're actually on the ownership table of that LLC. Now the tribe makes a decision together, whether it's in the operating agreement, or they're making decisions together, where to deploy that capital. And that's usually into a incessant, you know, syndicate or whatever it might be.
Casey Brown 23:31
Yeah. And that makes so much sense. Because, you know, then then, like you said, you're aligned at some point and as an essentially, you know, these things being longer term investments or Well, real estate syndications and such being longer term investments, and, and so on, and so forth. You know, you have to be aligned, you have to be understanding that this, this could be money, that's not necessarily going to be able to be gotten gotten back on it in a timely manner. I mean, obviously, the returns could potentially be in a timely manner, but the principle needs to be planned on being invested for a while or based on the terms of the syndication but Well, man, that's, that's, that's pretty cool stuff. And I mean, you know, just just the fact that, that you all have have kind of turned the key on this, this whole setting everything up all the way down to the bank accounts. I mean, that's, that's, that's just fabulous. I mean, that's, that's customer service, number one. I mean, because that's, that's a bigger deal. I think that a lot of people realize, I mean, you just you have a what banks could consider to be a higher risk type business or, or a risk for loss type business and, and they just tend to shy away from that stuff.
Unknown Speaker 24:41
Yeah, you nailed it. Casey, it's, you know, we've, we've made something so easy. And unless you've like tried to open up a business bank account and do this on your own, there's it's kind of hard to appreciate. But yeah, right. You're right. Uh, you know, banks are interested in a new LLC that's making investments. And we've, you know, we've streamlined that to the point where, you know, they don't ask any questions like, What are you doing and how you doing it? It's, you know, there is this, no your customer. So there is background checks and things like that, but you're, you know, in terms of what you're doing, in terms of putting your money into real estate, or whatever it is. It's, you know, it's streamlined. It's, it's simple. Within minutes, within minutes of getting back the LLC articles organization from the Secretary of State, you have a business bank account open.
Casey Brown 25:45
Yep. And I mean, that's, that's what's just mind boggling to me. And, and that's, that's, that's great that you all have done that, because I think it's really going to open up an opportunity, especially, especially for for groups of maybe smaller people, people that don't have you know, maybe you've got a guy that's got 5000 and another guy that's got 5000, and then a couple people that you know, then you can, you can crowd fund the crowdfunding, if you will. And that's, that's really, ultimately at the end of the day, you're trying to bring in where everybody can have a piece of the pie. They don't necessarily have to be, you know, don't have to have to take down or bring in a half million dollars to do so. Something like that. So well, well, Travis, I know that that takes a lot takes a lot for for folks to carve out time to come in here and sit with us and just chat and I really want to tell you thank you for introducing the listeners to try vest. I know I had heard you all on our podcast. And it really just like it all opened it opened my eyes because I was like man, that's that's really just a killer business model because it just seems to bring everybody together if it didn't do anything else. You're looking at it from a tribe standpoint, like those are my people. These are my people this is how we want to go so then people start moving with with aligned ideas and things really start happening so but again, I can't thank you enough for for being on here and giving our listeners a little piece of what what tribe vest is about. So real quick if if the if they're interested in learning more about tribe vest or want to get in touch with you possibly what's what's a couple of ways they could do that.
Unknown Speaker 27:22
You know, just come to tribe vest.com. And, you know, you can you can build a plan. You can share that with your tribe get feedback. And you know, just learn more about tribe besting at tribe best.com is definitely the best place.
Casey Brown 27:40
Cool, man. That's awesome. Well, Travis, again, thank you so much and I hope you have a good rest of the day and cashflow pro listeners. Thank you all for tuning in. And we hope you enjoyed today's episode. Thanks, Casey. Thank you
Transcribed by https://otter.ai