Real Estate Revealed

#16 - Matt Andrews, Venture Capitalist in a Real Estate World

Eric Wilson
February 15, 2021


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Matt Andrews,Dave Seymour, Intro Voice Over


Intro Voice Over  00:00

Have youever wanted to create cash flow outside of your job income or retirement plan?Have you considered large commercial real estate assets? Do you know aboutalternative investment strategies? Keep listening. This is real estate revealedhosted by Dave Seymour, the star of a nice living Boston and CEO of freedomventure investments in Denver. Get the real deal about investing in commercialreal estate to create long term stable financial wealth smarten up your realestate skills now.


Dave Seymour 00:35

Allright, welcome. Hey, it's Dave Seymour. Yeah, real estate revealed Saturdaymorning, 11 o'clock. Now the weekend, another day, another dollar. No more timein paradise. If you're new to the show, welcome real estate revealed. And weuse the word revealed purposefully because we reveal the secrets behind realestate that most people don't pay attention to. And I'm talking about thefinancial side of real estate, how it creates generational wealth for those whoknow what they're doing, how it creates wealth, how it creates cash flow, howit can let some people sleep well at night if they've been having somechallenges. So that's what we're all about. I'll share a lot of that with you.I'm the CEO and the founder of freedom venture investments. You might recognizemy beautiful dulcet tones from the hit TV show flippin Boston. But if you don'trecognize me from the show, I don't care, it doesn't matter. What matters isthat we're here to give you some incredible information for you to act upon. Ifyou're looking for some financial changes here in 2021, we've gone through somecrazy times. So freedom venture investments is the investment company. And I'llshare a little more of what we do with you during the course of course of theshow. So that's what we are. And this is what we're not. And I said every week,we're not HGTV paint and carpet, we can worry about stuff. Okay? That's notwhat we're doing. That's not what this is about. It's not about making thingspretty. It's about making money. So every week I bring in a guest, a guy orgirl or company that I know is absolutely legitimate in the world of investingin real estate, in creating what we call velocity of capital getting that moneyto move fast, right? No lazy money, sitting around in less than a less than apoint in returns are some of the other silly investment opportunities that areout there like a savings account or a CD or the bond market, that I make thatnice and clear. So I bring guys and girls on this radio show No, no, absolutelyknock it out of the park. And the guy that I have today is a very dear friendof mine. He's a venture capitalist. He owns multiple businesses. But he startedvery similar to me with flipping houses. He's done in a minute. He's done invarious parts of the country. he invests in large commercial real estate, whichis what we specialize in. And he's just all around a great guy with greatinsights and input. So with a better luck, we do have him on the line. MaxAndrews. Are you there?


Matt Andrews 02:59

I amhere man, Dave, thanks for having me, buddy.


Dave Seymour 03:01

Hey,brother. Thanks for joining me, I know how busy you are. We've been livingWe've been living on clubhouse, running some some really cool rooms on that appand networking, our rear ends off. So I appreciate you pulling you away fromfrom that app for a little while. And and spend some time with us. So I like tokeep a simple format, Matt, I know how much of a rockstar you are. But itwasn't where you always started, right? You're not you're not always doing thelarger deals that we are involved with today. And being a VC and buying andselling businesses and real estate. share a little bit man, tell me about yourjourney where you started because I think it's always great for people tounderstand the trajectory that real estate can give not only them but what it'sgiven us as investors in real estate and career. So start at the beginning, mybrother the floors, yours.


Matt Andrews 03:47

Absolutelycool. I appreciate it, man and man, anytime, anytime you asked me to besomewhere I'm going to be there, man. You're I mean, you're Dave Seymour.Right. So I'm gonna do it. I appreciate it. I appreciate it. Yeah, you know, soI, you know, I went to school and got a degree in psychology, right. I thoughtI was going to be a family counselor. I thought that was my path, you know, gotdisenchanted with that pretty quickly because I realized there wasn't a wholelot of, you know, financial reward, and doing that, at least not at the levelthat I wanted to do it. And I wasn't really going to be working with the peopleI wanted to help. I was going to be managing the people that were working withthe people that I wanted to help so I went into corporate america prettyquickly after after I graduated from college and worked for a couple of yearsand in that field in the field that I was in working for a fortune 500 companyhad a lot of success really early was salesman of the Year for that company,and was was on a trajectory to kind of be corporate Fast Track there and Ithought that's where I would be for a long time. And after building a pipelineof business for two years. My boss brought me into his office and said hey,fantastic job. You know, you got salesman of the Year for the for the entirenation. You built an incredible book of business and By the way, we areshutting down your department and you got to start at zero, you got to startagain from zero. And so I was like, man, I loved everything you said up to thatpoint, right? So yeah, so at that point, I realized, okay, I cannot let myfinancial destiny be in the hands of somebody else. I've got to be anentrepreneur. And that led me to real estate. So I started flipping houses andmy first house flip was 1999 I tripped all over myself from 1999 to about 2004or so when I kind of really started kind of getting the hang of it. I wasmaking money before that, but I was not operating efficiently. And market


Dave Seymour 05:40

whatmarket we were in Matt, where were you in? 94? Yeah, it always Yeah, you'vealways been a Florida guy. Yeah.


Matt Andrews 05:46

Yep.Tampa St. Petersburg Clearwater and then a lot of the surrounding communitiesthere. We you know, we did house slips all over the all over the place there.So I was I was doing a quick we call them quick transactions, then we call itwholesaling. Now, right? I was doing wholesaling, I was doing some, you know, Istarted out really doing rehabs, you know, running construction crews and doingone house at a time and, and then went into, you know, starting to do some buyingand holding a little bit in those early days. And then the foreclosure crisishit. And that was right around the time that I really started systemising andfiguring out what I was doing so so the the market kind of came to me suddenlyI could buy things that you know, 30 4050 cents on the dollar. And and thatreally just blew our business up in a great way. So it was a tough market for alot of people. But I had been working on building the relationships with whatwe call our reo brokers who had all that inventory. And and that's really whatmade our business, you know, go from, you know, really, we ate x in a coupleyear period, between 2007 and 2010 was a huge period of graph.


Dave Seymour 06:53

Matt,let me ask you a question. Because I think it's important, right? from day tonight, you know, 1999 to 2004. You're kind of figuring that out. 2004 throughto 2007. You had to be on a trajectory and a buy fix and flip business downthere in Tampa. I mean, Florida was was absolutely on fire. Did you have anysense of what was coming down the pike with it with the things that you sawback then that you said, Hold on a minute, this this is this is just straightup crazy. And then being prepared for the crash in 2008? What did you see goingin?


Matt Andrews 07:25

Yeah,yeah, that's a great question. You know, I did it, especially in hindsight.Now, I saw a lot of things that make a lot more sense. But at the time, I didsee some things that didn't make sense. I didn't know what was coming. I didn'tknow we were going to a meltdown. You know, I don't see any of that I didn'thave a crystal ball. And then nobody did, right. But I did see a bunch ofpeople that were making money in real estate very easily. That didn't work veryhard. And I saw things appreciating like crazy. And it seemed to me likeeverybody and their brother and their grandma owned five houses apiece. Andthat just didn't seem sustainable to me. And then the kind of people that I sawdoing it and having success, you know, I was working really hard at itdeveloping systems and hiring the right people. But I saw people having youknow, success around me that I thought, Man, this is it this easy for them, youknow? Yeah.





Matt Andrews 08:19

Yeah,yeah. Yeah, exactly. You know, just like that guy's making money seriously, youknow, and, and those are the people that got pinched, you know, those are thepeople that are no longer in the business. So, so I did see that it felt itfelt like everybody was getting too big for their britches, I loans were waytoo easy to get, you know, these no doc loans. And that was what caused a lotof the issues for people. I did, I did see some of that and it didn't smellright. You know, I smelled the smoke. I just didn't quite see the fire and knowexactly what was gonna happen. But to answer your question, yeah, I definitelysaw some signs and thought, this doesn't seem sustainable. But I didn't foreseeyou know, what the drop off was going to be there and starting December of2007. When it just went off a cliff.


Dave Seymour 09:01

Wouldyou agree, Matt that it was like a like a distance in or just a walking awayfrom from like fundamentals? Yeah, that's not what I'm saying. Cuz that's whatI saw.


Matt Andrews 09:12

I youknow, what I'm saying, oh, total a total walking away from it. And that's, youknow, I was taught you know, I was taught by Carlton sheets and Ron Legrand andso I had some pretty good fundamentals. I mean, you know, those guys, right,and so, and so I was taught some pretty sound investment practices. By studyingthose guys programs and a lot of other books. I was reading the, you know, therich dad series and that kind of thing. But yeah, a lot of people startedbetting on appreciation. And acting like appreciation was something that was agiven that was always gonna happen forever and ever and ever. And, you know,and I knew even back then I was like, Look, you don't, you don't bet onappreciation. You bet on cash flow. Right. And that's, that's the way Hold on,hold


Dave Seymour 09:53

on. Holdon. Stop. Stop right there. Say that again. Again,


Matt Andrews 09:59

yeah,you don't Bet on appreciation. You bet on cash flow. You know


Dave Seymour 10:02

that butMatt, hold on Matt Andrews, investor, extraordinare friend of mine. What do youmean? I mean, the single family market is on fire right now.





Dave Seymour 10:14

can'tYou can't go wrong. Yeah. Bye bye. What are you talking about?


Matt Andrews 10:19

That'swhat you think. Right? Exactly. Yeah, it doesn't it doesn't work that way.That's not the way it works. And that's the thing, you know, appreciation isthe gravy on top. Right? If you get that, that's the gravy. That's that's whatmakes it worth it to hold long term and you will get some appreciation. But ifyou are buying today and buying wrong and hoping that appreciation is going tobail you out? Well, that's what's that's what was going on in 2006 people wereoverpaying. And for a while they got bailed out by an insane market that was onthe rise. But as you know, that's a dangerous strategy. And if it turns on you,it turns hard.


Dave Seymour 10:54

There'sa lot of similarities. I understand that the causes and the conditions are notthe same. But I think the result is screaming a lot of similarities right now,would you agree with that statement? Or am I just Mr. doom and gloom?


Matt Andrews 11:07

I thinkso I think there are a lot of similarities. You know, we're not quite rising asfast as that, but there's a lot of people still, you know, betting onappreciation when they shouldn't be, I think there's a lot more safeguards inplace when it comes to lending. So I don't think we're gonna have quite thedrop off. But I do think we're gonna have at some point, a correction and betweenthe pandemic and prices rise in too much. And people get again, getting too bigfor their bridges, we're gonna see some some correction, and there's gonna besome people to get burned, for sure.


Dave Seymour 11:35

So whenyou came when you came out of 2008 910 1112, you set up the infrastructure tobe able to do I'm assuming, you know, short sales, loan modifications, youknow, reo bank owned assets, like all that shut that machine on? Yeah.


Matt Andrews 11:50

Oh,yeah. All of that. Yeah, we built up a huge pipeline of short sales, you know,we were the offer that generated and started a lot of those short sales. I wasbuying from, you know, reo brokers, right and left. I mean, I maderelationships with asset managers at the time. And these were guys that I wasmaking relationships with before, but when it dropped off, you know, I wastrying to get in the door with them saying, Hey, can I can I buy yourdistressed properties? Can I buy your distressed properties? And then suddenly,in 2008 2009, now, they're coming to me saying, will you please buy ourdistressed properties? Will you please hire distressed properties? So yeah,making those relationships before that, I think really paid off when the whenthe bottom dropped out.


Dave Seymour 12:30

So it'sbetter to be prepared when the opportunity arises, which some people say is thedefinition of luck is that?


Matt Andrews 12:35

Yeah,yeah. And there was being in the right place at the right time. And beingprepared. There was definitely that element of it. I was in I was in a greatmarket. And I sold a lot of things, you know, and I wasn't, I wasn't holding onto a ton of things with a lot of with a lot of leverage at the time either. Andso there was definitely an element of, you know, what some people would callluck, I guess in it, too.


Dave Seymour 12:57

Yeah.It's always the people who say we're lucky, but they didn't see all the workthat we did prior Look, I'm talking to Matt Andrews, venture capitalist investin his own right for many, many, many years now. Started in the single familybusiness, grew his business, serve this community through the crash of 2008 9101112. built a reputation as the go to guy to get it done in that marketplace.We're gonna be right back. Matt, when we come back, I want to talk about whatyou see going on right now in the COVID marketplace and how that sentence thatyou just said cash flow over appreciation being the focus of attention. I liketo unpack that a little bit. So don't go away. You're listening today, same oldMatt Andrews on real estate reveal.


Intro Voice Over  13:42

RealEstate revealed We'll be right





Intro Voice Over  13:48

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Dave Seymour 15:11

You everwondered how to create cash flow outside of your job income or retirement plan?Have you considered large commercial real estate assets? You know what analternative investment strategy is what tune in for all the answers on my showreal estate revealed this is Dave see my might recognize me from the hit TVshow flipping Boston. I'm also the CEO and co founder of freedom ventureinvestments to smarten up your real estate now by tuning in every Saturday forall investment details, visit us at info at freedom ventures comm slash 104point nine call my team at 781-922-4418


Intro Voice Over  15:43

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Dave Seymour 16:22

Allright, Dave Siebel here real estate reveal talking to my friend Matt Andrews,you just heard there at the break, you know where to go for your residentialmortgage, George coachhouse will take great care of you and known once you getyour mortgage deep Alessi or find you the home of your dreams. And when you getsome some smarts behind you and you start looking at alternative investments,putting some of your maybe your retirement capital behind commercial realestate investments or lending and things of that nature. Well, now you knowwhere to go. If you want to use your retirement accounts to do it by calling myfriends at horizon trust. There's always a way to get it done. If you just golook for the answers. So Matt, I want to talk about money brother, because tobe able to do what you did on the scale that you did, you know, you can buythem at a discount, but you still need the capital resources to execute onthose transactions. What was your funding source back then? Because the banksweren't lending it was it was tight back then how do you how did you run yourbusiness from a financial standpoint?


Matt Andrews 17:17

Yeah,that's a great question. You're right, the banks were definitely not lending.They were lending big time before that. And then all of a sudden that thatstopped, right? In a lot of ways. That's what created the opportunity for me togo find private lenders and for me to, you know, I found a lot of internationalinvestors at the time that funded the purchase of a lot of those deals for methat they wanted to buy. So I was locking up deals right and left, I wasbuilding relationships with some local investors, but mostly out of towninvestors, a lot of overseas investors, I was in Florida, and I was selling topeople in in Germany and Australia, in Canada, you know, South America, andthey wanted in on the Hot real estate market of Florida. They're reading aboutit in their local papers, that that's the hotbed of the foreclosure, you know,crisis and yeah, properties for pennies on the dollar. Well, at that time, Ireally started learning SEO, meaning, you know, search engine optimization. Soif you typed in, you know, distressed real estate or real estate investments,and had that tied to Tampa or St. Petersburg or Clearwater, Florida, I came upthe entire first page because of my YouTube videos, and, you know, Facebookpages. And that was a trick I learned from Ryan deiss. And Perry Belcher, theseamazing marketers, they taught me that, right? So I had these people coming tome from all over the world. And I turned them into my own pool of private lenders,because banks were lending, but the DS there, and I said, Here's how it works.And here's how we can work together. And so they funded a lot of those dealsfor me,


Dave Seymour 18:54

Matt,you and i, you and i use this vernacular and language every day of our lives,private lender, you know, cap rates, everything that we talked about, and noteverybody really understands the term. It sounds simple enough private lender,but for the folks listening, what is a private lender? What does that mean?Exactly?


Matt Andrews 19:12

Yeah, aprivate lender is just an individual who has money that you offer anopportunity to fund deals for you. So basically, you know, if you've got deals,you go to those, you find people that have money and say, hey, I've got the abilityand I've got access to this inventory. I can buy properties at a reallydrastically reduced rate. Would you like to fund and, and, you know, give memoney to get those deals, and I'll let you in on the action. You can be alender for me. And so it's really somebody who is you would call a privatelender, you know, it's somebody who is not a bank, not a lending institution,not a mortgage company, but somebody who has capital usually in some otherbusiness they've been successful in and they're willing to lend that money fora certain return. And I liked finding people that didn't really Know about thereal estate deals and turning them into private lenders and offering them anopportunity. So, so that's really what private lenders are.


Dave Seymour 20:09

And youobviously, you know, it's not like, Hey, give me a couple of bucks and I'll andI'll take care of it, you've got legal documentation, you treat them as if asif they were their own bank, correct?


Matt Andrews 20:18

Absolutely.Absolutely. They hold a note, whether it's short term or longer term that youbasically turn them into the bank. I think the key to that is, you're offeringthem the opportunity. This is not somebody out there, advertising, hey, I'm aprivate lender, borrow my money. I'm a private lender borrow my money. They'renot out there saying that there are people out there like that. But at thetime, I really specialized in finding people who had capital, but didn't knowthat they could lend it and didn't know the kind of deals that were out there.And then I brought them an opportunity and turn them into my own private bank.


Dave Seymour 20:52

How How?I'm just I'm interested to ask this question, I generally want to know theanswer. Yeah. How long has your relationship been with your oldest privatelender? Like somebody who's been with you? How many years now? That they'rejust always waiting for you to pick up the phone and say, I got another deal?


Matt Andrews 21:10

Oh, man,at this point, I've got a lot of them. And I don't have enough deal, Stephen,you know, spend all their money because they they'll they've got it waiting forme anytime. And they're waiting for their phone to ring. But I think the oldestrelationship I have is probably one that I started working with in 2008. So atthis point, you know, probably 12 years, there's one gentleman I'm thinking ofthat, you know, that was a local had just moved to Tampa at the time, wanted tostart buying some properties. And he became one of my main lenders. I mean, heprobably lent on 50 deals per year to me for Wow, real back then. And I don'tdo that high volume anymore. I don't I don't work that hard anymore. I'm moreof a passive investor. But


Dave Seymour 21:50

yes, youare.


Matt Andrews 21:52

Yeah,he's still there. And he's still got money. And whenever I call him, I tellyou, he always picks up my phone call.


Dave Seymour 21:58

Whatkind? What kind of return? I know that, right? I'm not an accountant. I'm notan attorney, sec compliance, all of those things. But what what kind of returnportfolio what were your private investors looking to get back in the day,


Matt Andrews 22:11

youknow, back then I was using them mostly for short term funding. So, you know,it was, it could range anywhere from you know, 8%, up to, you know, 15% I mean,depending on what the deal was, it can really range anywhere, a lot of them, I,you know, a lot of them lent me the money for at a really low rate for accessto my deals, you know, so that's, that was the leverage point that I had isthat I knew how to get the deals, I had the relationships with the assetmanagers of the banks, I had the relationship with our reo brokers, I had apipeline of short sales built, so I could almost write my own ticket,especially then, because these guys wanted deals, they wanted properties. Andso I didn't just use them as lenders, I use them as lenders, and I let them inon the deal. And I let them keep some of the deals some of the some of thecherries, you know, some of the best, all nice, I laid out cream off the top.And so some of these guys were lending to me, I mean, some of it like four and5% because I would let them keep a deal, you know, every three or four dealsthat they that they, you know, Linden Mita, refunded me on. So, so I kind oflet them


Dave Seymour 23:20

theycould, they could sit in there and have a buy and hold maybe like, they'd havea single family at the end of it and a tenant base and they get additional cashflow over time, something like that.


Matt Andrews  23:28

Exactly.Exactly. And I would have been the deals that they wanted, you know, like, ifsomebody and I had a gentleman who bought you know, 66, zero 60 single familyhomes from me, and six months, right, and he just wanted as many as he couldget. So I said, Look, here's basically, you know, we were working at pricepoints between 50 and 80. And I said, you know, here's a here's a blendedaverage, here's what 60 properties are going to cost, put it in escrow, youknow, put it in escrow to


Dave Seymour 23:56

reallyput up or shut up.


Matt Andrews 23:59

They putit in escrow and they made it happen.


Dave Seymour 24:02

Nice,man, that's that's what they call a baller, right? Like, the big the big play60 single family homes. That's That's incredible. And the reason that I'mhaving you share this information about private lending is because a lot ofpeople and even people who listen to the show Matt they don't they don't alwaysunderstand that they're qualified to be private lenders. It's it's almost likeit's like an imaginary thing like some kind of unicorn concept like the wordfloats around out there private lender accredited investor, you know, that kindof verbiage, but they don't always understand that that it's them. I have Ihave a private lender right now a lady those who's just a wonderful woman. Itook great care of her in a situation where there was some some sharks in thewater and they were trying to steal a house and I come by the house at theprice you want it I found a great investor who could pay the price that shewanted. And then as soon as she made her money was a half a million dollars.She turned around she said can I give it To you? And I'm like, Yeah, I don'tknow where to put it right now. She said, Well, as soon as you got some way towork my money, she said, I want to get my money to you. So it's it's takingcare of people first, right servicing their needs going forward. All right,let's do this. Yeah, what's that? Yeah, it's all relationships, man. Right?Yeah. So 2008 stat in the SEO, you're doing a lot more of that work? What Whatwas the progression from from then kind of into? You know, 2014 1516? What,what did you start? You know, whetting your appetite with at that, at thattime?


Matt Andrews 25:37

Yeah. So,yeah, for 2008 910 11. I mean, we're just grind and we're doing we're doing,you know, hundreds of properties per year, almost all of them in Florida, andwe're just rocking and rolling in that market. And then, you know, some peoplestarted asking me, you know, Hey, will you teach me how to do this? You know,would you? Would you be my mentor? Would you? Would you coach me on how to dothis? And I said, Nah, I don't want to do any of that, you know, and then agood buddy of mine named Nathan, Joe woods, who, you know,


Dave Seymour 26:06

shortsout kid.


Matt Andrews 26:07

Yeah,short sale kid, successful short sale investor, made some training products andman that he sold, you know, millions of dollars of that product, because it washelping so many people. And he said, Matt, what you're doing with wholesalingand what you're doing with, you know, what we call it at the time, you know,double closes, or simultaneous closes, which was a, you know, kind of intricateprocess, but but really lucrative if you did it, right. He's like we can make,we can make a product around that. And we can teach people how to do it, andyou could become a real estate coach. And I thought, Well, okay, maybe it'stime to do that. I mean, I'm doing this every day, I can teach other people howto do it. So I came out with a product, I think it was 2011 and sold a lot ofthat product way more than I thought I would have a little training product for$100 that anybody could buy and watch videos on how to do those kinds of dealsthat I was doing how to do real estate, wholesaling, right. And one thing ledto another made another product after that made some coaching programs. Andthen the progression was really kind of creating a full real estate educationcompany at that time. And then I started will be called mastermind groups forkind of coming off the heels of that mastermind groups or kind of board ofadvisor type groups for real estate entrepreneurs. And, and that that kind ofgot me into that whole world of building communities and building Board ofadvisor type groups around me that that learn from me and and we grew togetherand funded deals with each other. And that kind of got me into that worldthrough from investing to education into masterminds,


Dave Seymour 27:42

I tellyou, the mastermind, I've been asked many times to join many differentmasterminds. And I have always kind of like turned it down, because I wasn'tsure, you know, I'm about reciprocity. If I'm joining a mastermind, then I wantto make sure that I can bring something to the table as much as received fromthe expertise of the people in it. And I you know, I just want to say this onthe radio brother, you're the only one that that I want you to participatewith. And for that short period of time that that I've since I've joined yourmastermind group, and the guys and girls that are in there, the amount ofbusiness and business opportunities that have come from being a part of thatgroup are unbelievable. So for any any budding entrepreneurs out there, beingable to mastermind with experts, people are doing what you want to do at ahigher level. I kind of pushed it off for a long time through my own. I don'tbelieve it or not lack of confidence in what I could bring to the table. But it'sbeen an absolute absolute game changer for me, Matt to be a part of that crewand, and the value that that your your community your network has been able tobring to me I mean, even our time on this app in clubhouse, I wouldn't havebeen in there if it wasn't for you. And now I'm you know, I'm putting dealstogether with other TV celebrities, as a direct result of the mastermind groupand the time that I spent in that app with you. So everything and anything ofvalue is always been built through community and network. You know, I say this,right? I said all the time. There's no such thing as a self made millionaire,right a self made millionaire. We're gonna go to another quick break, man Holdthat thought for me, man. I'm really enjoying this conversation. I hope I know,I feel that the people who listen to us are enjoying it as well. But when weget back, I want you to stop describing for me what it is that you now look fortoday as a passive investor, because I know you upped your game. You don't haveto work if you don't want to. You're all about letting your money work for youinstead of you working for money. So I'd like to unpack that a little bit whenwe get back from this next break. If you got the time to stick around and staywith me. I


Matt Andrews 29:47

hope youdo. Absolutely.


Dave Seymour 29:49

Allright, brother. We'll be right back.


Intro Voice Over  29:55

RealEstate revealed We'll be right back



Stevemolestus of solarus reality has intimate knowledge of the North Shore market withover a decade of experience and record of 300 real estate transactions whenit's time to buy or sell property, give Steve a call directly at 617-763-1001that's 617-763-1001


Dave Seymour 30:28

you everwondered how to create cash flow outside of your job income or retirement plan?Have you considered large commercial real estate assets? Do you know what analternative investment strategy is? With tune in for all the answers on my showreal estate revealed this is Dave see my might recognize me from the hit TVshow flippin Boston. I'm also the CEO and co founder of freedom ventureinvestments to smarten up your real estate now by tuning in every Saturday. Forall investment details, visit us at info at freedom slash 104point nine call my team at 781-922-4418.


Intro Voice Over  30:57

Todaythe real estate market is booming mortgage rates just at historic 30 year lowsand the New York Times recently reported that investors are snapping up realestate at rock bottom prices. And now savvy investors are buying real estateusing their IRAs that allows them to access their retirement funds to buyproperties without paying any penalties or early withdrawal fees. If you havefunds in your retirement account and you are interested to learn more callhorizon for us today at 866-712-2007. That's 86671 to 2007. Unlock the power ofyour retirement account and take advantage of one of the most profoundopportunities in real estate since the housing crisis 15 years ago, callhorizon trust retirement specialist at 866-712-2007. And for a limited time,get our free Ultimate Guide to buying real estate with your IRA that's866-712-2007 or visit horizon trust calm slash day. Horizon Trust Company is anindependent passive custodian and it's not associated or affiliated with anddoes not recommend promote or any specific investment investment opportunityinvestment sponsor investment company or investment remote or any agentsemployees representatives or other such firms. Horizon trust is not providinginvestment advice, advocating or endorsing real estate. These options may ormay not be a fit for individual investor investments are not FDIC insured,offer no bank guarantee and may lose value. Horizon trust doesn't receive anycommissions or fees if I invest with any other sponsor. You're listening toreal estate revealed with Dave Seymour from Amy's flipping Boston,


Dave Seymour 32:28

realestate revealed I'm having a great time, an absolutely great time. Right nowI'm talking to a killer entrepreneur, venture capitalist in his own right, mydear friend, Matt Andrews, he shared with you guys his journey from 1999 up tonow 2021. So he ain't a kid, he ain't wet behind the ears when it comes tobusiness, finance, real estate, starting with small sticks and bricks, and nowworking his way up to larger deals of larger acquisitions and network andmasterminds and just doing great things. So So Matt, I want to I want to swingthis over a little bit. I know that today you love to passively invest. I knowthat you invest in businesses, and you also invest passively in real estate. Sowhat I'd like to do, first of all is ask you, when you are buying a business,when you are looking at a business, when you are looking at aligning your skillsets with a business, or a couple of the things that you look for when you whenyou consider, you know, investing in or taking over another business?


Matt Andrews 33:27

Yeah,that's a great question. So you know, whether it's real estate or any otherkind of business, and, you know, the freedom that I've got, you know, that I'veestablished the real estate that allowed me to kind of look at a lot ofdifferent opportunities. For me, it always comes back to investing in people.You know, it's it really always, you know, whether no matter what the deal is,no matter what the play is, no matter what the return is, it's really aninvestment for me and who's involved in the deal. What is the partnership? Whatis the leverage there that's established through that relationship? So it'skind of like we said, you know, before we left, it's all about therelationship, you know, so whether it's a, you know, a multifamily syndicationdeal where, you know, me and other investors are pooling our money together tobuy an apartment complex, or whether it's a business that somebody started andI'm now acquiring it, or partnering into it or bringing capital into it. Ialways look at the person, you know, but like, kind of like our friend KevinHarrington says, you know, hockey, not the horse, right? Yeah. Yeah. That's,that's what it always comes back to. For me, I look at the person first, I lookat the individual first. If that's somebody I want to be in business with, andthey bring a strategic leverage there. I invest in them. And then we kind of gofrom there. If it's not somebody that I want to be in business with, it doesn'tmatter how good the numbers are, it doesn't matter how good the deal looks. I'mnot going to go into business if I don't like the partnership.


Dave Seymour 34:51

Yeah,yeah. It's amazing. To put it that way. I've been in positions where I'veturned away capital because you know, the personality behind the Capital,you've got a gut reaction man like you can you can sense you can sense whopeople are. If I'm not, if I'm not hanging out with like minded people, if I'mnot hanging out with, I want it to feel like a friendship, right? I want it tofeel like, you know, just a good partnership, because at the end of the day,it's a marriage, right? The money is just the tool that kind of like ties theknot into into financial marriage, whether in a business or a piece of realestate. So I absolutely concur, right? And I concur a doctor


Matt Andrews 35:30

with youknow, that's how I knew I was really free and really had hit a point of successwas when I turned down good money, because I didn't like the partnership or thepartner or the person bringing me the opportunity didn't have integrity. AndI'll tell you, I mean, super quick story, because I remember it to the day. Imean, I remember exactly how it happened. A big investor had come into toFlorida was bringing millions of dollars with him, right? And he was what wecall a classic blowhard, right. I mean, just running his mouth acting like hewas a big deal. And, and from a financial perspective, he was a big deal,right? I mean, had literally like hundreds of millions of dollars, was throwingthat around was acting like he was the the big stuff. And, and, and I wanted todo business with him because he had all that money. But I was getting to apoint where I didn't have to do business with anybody that I didn't like, andI'll never forget being at lunch with him. And he completely ridiculed thewaitress at the restaurant that we were at. And I incredibly like I mean, it'ssomething snapped in me when he when he treated her with disrespect. Iliterally snapped and Dave, I took my spoon, and I put it in my mashedpotatoes. And I turned to him, and I flicked the mashed potatoes. He





Matt Andrews 36:57

And Isaid, and I said, I cannot believe you treat somebody like that. And I flickedmashed potatoes at his face. And I said, I'm not doing business with you. Idon't work with people like you see later. And I literally went to the to thewaitress, I apologize. I gave her like, you know, like a $200 tip and said,this will cover this will cover our sandwiches. And here's an extra 150 foryou. And I'm very sorry, I'm out. And I walked away from that. And I had sincethen I have never done business with anybody that I felt like didn't haveintegrity. And that was the day that I knew that I was free. I flicked themashed potatoes.


Dave Seymour 37:34

Iflicked them. that's a that's a title of a book. We're gonna write that bookbecause I got some stories to the day. I flicked mashed potatoes at $100million. Matt Andrews. That's such a great story, dude, he really is. Like, Ilove dude, I'd never heard that before. But I always know I loved you, you knowwhat I mean? Like you were the right guy to hang around with and do businesswith. And that story just reinforces that for me going forward, when it comesto Alright, so we tick the box, right? Yeah, the right people. You know, we'rein aligned, we got, you know, family first treat people the right way. Butthere's also called Green cash behind behind these transactions. Sure, right,in the check 250,000 1,300,000, whatever that number is 10 million. Right? Whenyou're writing a check like that? What what kind of expectations are youlooking for? You know, what's, what's the sweet spot for you, as an investor?You say, you know, what, if the story makes sense, the investment makes sense.I'm investing on the jockey not the horse? What is what is that? What are thenumbers look like for you that you want to see when you do a transaction?


Matt Andrews 38:42

Yeah,sure. Well, I, you know, I kind of have a general answer to that. And itchanges a little bit by deal and by the length of the deal and kind of theterms and, and what the long term outlook is, and how long of a deal it's goingto be right. But I like to do deals that have a double digit cap rate, right? Ilike cash on cash return of 10%, or more obviously, and big apartment complexesand some big, you know, industrial deals, you don't you don't quite get to thatthat level, right? I mean, a good deal, right? may not be that, but I invest ina lot of deals that are what we'd call creative financing deals, you know,lease options, owner finance deals, and some of those deals. I mean, theyliterally will make me you know, 20 plus percent on my money, you know, so itjust depends on the deal, but I I'm not gonna lie, I like those double digitreturns. And, you know, I was ruined a little bit for those kinds of returnswhen I was buying stuff for 50 cents on the dollar, you know, back during thatdownturn, but I found ways to do that. And so the way I really make the bestreturn in single family homes now is doing the owner finance model. You know,taking down properties and then finding people that are just underneath thatqualification for traditional lending and, and offering them a chance to gointo a property offering offering them ownership, financing it to them, andthen letting them build a track record over two or five years. And those caprates with, you know, the ones I do up in Michigan and Indiana and Ohio. Imean, it's they're insane. I mean, I had one that's doing 27% cap rate, youknow, that's a really high exam, right. But, uh, but I like I like the higherreturns, I, you know, I can't get away from that.


Dave Seymour 40:27

This isprobably a lead in and maybe not the smartest of moderator questions, but I'mgonna ask anyway. Is your preference passive cash flow today? Or do you stilllike to get down and dirty?


Matt Andrews 40:37

Definitelypassive cash flow? Yeah, you know, that the part of the business that I leftbehind, pretty quickly was dealing with contractors and, and crews, you know,back when I had my hands really in the dirt, I was running three or four crewsat a time, you know, and each crew had, you know, 567 guys on it. And I gottatell you, I do not miss the days of dealing with the contractors and thesubcontractors. So definitely much more of a passive investor. More of a lenderand more of a syndication guy now more than anything else.


Dave Seymour 41:11

Yeah.Yeah. So for those of you listening, what what Matt just described isintelligent investing. Fantastic, right, the passive investor sits back andlets everybody else do the work. And they just let their money work for them.Right. That's, that's, that's really the concept of a passive investor.


Matt Andrews 41:29

Exactly.And that's freedom, right? I mean, that's, that's, that's what allows me to dothe things like, like, what you and I do and build the other businesses andacquire companies like you and I do is, I've got time to actually look at otheropportunities, vet those opportunities, and I wouldn't have that time if I wasdown and dirty, arguing with contractors in and out every day and beating thestreet. You know, so it's the freedom that came from owning, passive realestate owning, you know, free and clear real estate and a lot of cases thatallows me the time freedom and the the mental bandwidth to look at newopportunities when it comes to me. And and I cherish that


Dave Seymour 42:06

nice,what's your, what's your, what's your, your ideal investment for a size of aninvestment? So as you know, I'm in apartment houses, and in your backyard,right? What what do you what do you like for size? Do you get excited about thosehuge, you know, 500? apartment doors? Or do you like that? 12 to 24? That's alike a like, tangible little asset? I mean, what what gets you excited? What doyou like to invest in?


Matt Andrews 42:33

Yeah,you know, if I'm gonna do the big stuff, like a lot, like a lot of the stuffyou do, I like to go in with friends, right? I like limbs that are that aresmarter than me or that vet at a higher level than I do. And so, you know, Ilike those kinds of deals. And I like the big ones, but I gotta be honest, Ikind of like the smaller deals better. You know, I like the smaller apartments,I like, you know, duplexes, and quads and eight plexes. And, and I still reallylove single family homes, I might buy 10 of them at a time or 20 at a time,almost like it's an apartment, like a small apartment deal. But I love those. Ilike I like cheap properties I like often, you know, we invest a lot in WestMichigan and Indy and Ohio, and I routinely still pick up stuff for under 100K, for a home in those markets. And I understand it, I like it. I've got youknow, teams that make it really turnkey for me and I can just, you know, sign afew papers and do the deal and not have to do too much thinking about it,because I know that that I'm buying it so low. And then I've got so manydifferent exits on it that that, you know, an extra five or 10 k here or therethat I pay doesn't really matter. So I love working with wholesalers to buy myproperties and building teams of wholesalers to bring me those properties,people that will do the hard work to find them and bring them to me. So so Itend to still like that. That's where I came from. But if I do go into thebigger stuff, which I like that too. I go into it with people like you andother friends of mine that are really good at vetting those deals.


Dave Seymour 44:04

Whereyou know, you know, the question is always leading. I feel like an attorneysometimes. I mean, I'm in your own backyard, Walter is is kicking butt andtaking names down there. We got seven ello eyes went out last week, three ofthem are now under contract. And what we're beginning to pick up, Matt, andwe'll talk about this one on one is some some sweet opportunity, some of these20 to 40 unit apartment complexes. And now we're buying them at nine, nine anda half tank cap in a six, six and a half cap market.


Matt Andrews 44:33

Wellthat I like buddy. Let me know I'll throw down on that.


Dave Seymour 44:38

Yeah, Igot you. I got you. So for those of you listening, that's how you close aprivate investor. You find out exactly. You find out exactly what they'relooking for. You get a nice description on it, you find out what gets themexcited, what kind of returns they want, and then you tell them afterwards.Well, I've got a couple of these options for you. And I did that for tworeasons one to teach the function Listening to watch Maddie. But number two,it's it's it's so good to know that, you know, the team is in place, right?Like you said, I want to do it with friends. And on these smaller units these40s you know 40s 20s you know you me and a couple of other buddies we can wecan put the bridge cat, the bridge capital in place that we bring in the bank,we never over leveraged more than 60%. And you know, everybody wins in thosescenarios. I gotta tell you, my friend, it has been an absolute and I mean itsincerely an absolute pleasure having you on the show this week. If somebodywants to find out more about Matt Andrews, cuz you're, you're a cool guy. Imean, I only scratched the surface of who you are and what you bring to thetable. how can how can somebody do a little research on you, man and find outmore about you and the businesses you own and how you operate?


Matt Andrews 45:48

Well,you can certainly find me and you in clubhouse right now, that's for sure.That's for


Dave Seymour 45:52

sure.Yeah, that app, you'll


Matt Andrews 45:53

see meon there for sure. But uh, but you know, you can go to Matt Andthat's a that's a easy site to where you can, you know, click into my facebookor my Instagram and a lot of other lot of other places there. So feel free toreach me there. And, you know, find me on Facebook, you know, just type in MattAndrews, look for my bald head, you'll see a picture. Me and my family, mybeautiful children. I have a seven year old daughter, three year old son andconnect with me on Facebook. I'd love to meet you there and you can follow methere. And that's, you know that you can find me through Matt andconnect with me in any way there.


Dave Seymour 46:28

I loveit. Brother. I appreciate you coming on the show. I appreciate your friendship.And I already appreciate the deals that we're going to do together now and inthe in the future. So God bless man be well,


Matt Andrews 46:37

thanks, Dave.I appreciate it. Man. You're just


Dave Seymour 46:39

myfriend Matt Andrews, calories a shock. Shock and take a quick break. We'll beright back Don't go away.


Intro Voice Over  46:49

RealEstate revealed We'll be right back. Thinking of purchasing a new home secondhome or investment property or maybe refinancing to get a lower rate,consolidate debts drop PMI or need to cash out to do home improvements. Georgekudos mortgage Officer of cross country mortgage and Danvers is just a loan officeryou will need as Essex County's top loan officer with more than 8000 past happyclients in over 30 years experience George and his team will be happy to assistyou with rates the lowest in history Don't hesitate act now you may be able tosave 1000s of dollars call George at 97877746 630


Dave Seymour 47:28

you everwondered how to create cash flow outside of your job income or retirement plan?Have you considered large commercial real estate assets? Do you know what analternative investment strategy is? Well tune in for all the answers on my showreal estate revealed this is they see my might recognize me from the hit TVshow flippin Boston. I'm also the CEO and co founder of freedom ventureinvestments to smarten up your real estate now by tuning in every Saturday. Forall investment details, visit us at info at freedom slash 104point nine call my team at 781-922-4418. Steve



molestusof Solaris reality has intimate knowledge of the North Shore market with over adecade of experience and record of 300 real estate transactions when it's timeto buy or sell property. Give Steve a call directly at 617-763-1001. That's617-763-1001


Intro Voice Over  48:29

you'relistening to real estate revealed with Dave see more from flipping Boston.


Dave Seymour 48:35

I tellyou that that was good. That was good. I'm not asking for approval. I'm noteven asking for agreement. That was a kick butt interview right there. Thereare people in life that that get up and go for it. Then there are people inlife that don't, right, there are people that accept mediocrity, and as we say,up here in New England, same old, same old, and then there's people who don'taccept that. And it's usually circumstances that create change. It's interestingto me to listen to the group of people who influenced me and my business and mylife today. And there are people who see a circumstance, a shift in whatever isshift in finance of shifting culture of shifting personal circumstance,business circumstance. And what they do is they step up to the challenge. Theydon't they don't lay down. They don't choose to be a victim. They they chooseto be a victim of circumstances. And I'm always encouraged and invigorated whenI get to have these kinds of conversations going forward. I'm going to unpack alot of what Matt Andrew shared with us that you know, this past couple ofsegments that we did here because it really is quite profound. And he shared acouple of things in there and he he described the private investor and that's awe do business with here at freedom venture investments. We do business withprivate investors, and also institutional investors. But what we're able to do,and we're so proud of this is we bring what are called institutional quality investmentsto the private lender to the to the accredited investor. These are folks whohave probably just always paid into the company 401k. These are the folks thathave committed their life to their careers, whatever that may be, you know,maybe they've changed jobs a couple of times, they own a house, they're just inthe in the middle lane, if you will, you know, they're just, they're just goingalong, and following the process. And, and those people, in my opinion, deservemore. I was one of those people and, and there's no right or wrong, it's notgood or bad tomorrow, that's not where I'm going. It's just knowledge, right.And I worked 16 years as a firefighter and a medic, right here in the city ofLynn Lynn, the city of sin. And, you know, I was I was in that middle lane. Andfor me financially, I needed, I needed a kick in the bud, I needed a, anelectric shock, if you will. And I went out and I learned real estate at thehighest levels possible. And I always believed in sharing wealth and wealth comesin the form of capital as well as knowledge. And what we do is we share theknowledge of commercial real estate investing with people who are expecting andlooking for higher than average returns on their money. Now, what do I mean bythat, you know, the average return in the stock market is 9%. If you leave itin the stock market and never take it out, well, unfortunately, the averageinvestor only gets a return of around two to 3%. Because they consistently putit in, take it out, put it in, take it out, put it in, take it out, you know,they got a financial advisor that sells it and spends it and buys and sells itspent right that the money is always moving, it's not growing. Capital grows,when it is parked somewhere, you put it somewhere and you let it go to work fora longer period of time. So commercial real estate, has been able to do thatfor our investors, it's been able to take great care of me and my family tookme out of the out of the center lane, if you will, and allow me to go into theinto the fast lane a little bit. And I don't mean the fast lane in the sense ofcars, boats and leather coats bikinis, jets, Rolls Royces, vacations all overthe world. I mean, it put me in the fast lane of being able to be more presentwith the people that I love. I wasn't worried about finances, I wasn't waitingfor the phone to ring. So I could make 200 bucks in the firehouse by getting anovertime now it gave me better choices. So what we're able to do is is we bringto our investor community apartment complexes. Now this isn't a three DeckerThis isn't a you know, a two fan in eastie. These are investments that aninstitution would purchase. And we have some institutional investors with usright now. But these are 40 to 150 unit apartment complexes. In Florida. That'swhere we buy, we buy a max backyard. My business partner who you've heard onthe show, Walton, a Vicki. He's our acquisitions manager. Walter has beendeveloping real estate in the Florida market now for over over 25 years, over aquarter of a quarter of a century. He's raised 125 million in private capital.He's deployed that money on investments, and he's paid back the targeted doubledigit returns to his investors. So an accredited investor as determined by theSEC people that we can do business with people who earn $200,000 a year or moreas an individual 300,000 as a family unit. Well, they have a million dollars innet worth, including retirement accounts. And I'm very purposeful when I saythat. It's always interesting to me that somebody says, Hey, Dave, I'd love toinvest with you. But I'm not an accredited investor. And I asked him a coupleof questions. And I say, I think that you might be an accredited investor.Well, it's my retirement account. I don't want to put all my retirement accountinto real estate. Nobody ever says all enough in my business. It's very commonfor an accredited investor who includes their retirement account to reachaccredited investor status, will look at their retirement account, they'll say,well, what's really going on here? You know, I've got limited diversification.They always say, you know, diversify your portfolio, or if it's in the stockmarket, doesn't matter whether you're in steerage or first class when theTitanic goes down, it's going down. diversification is out of stock market. Soit's gold, silver, I don't know crazy Bitcoin for some people, rightdiversification is real estate, lending on real estate, buy, fix and flip realestate, or the mature investor, what we do is is commercial real estate investing,and then allows that investor to come with us they make a minimum investment of100,000 into the fund. And in return, we give them targeted double digitreturns. We were very excited. We paid our first quarterly distributions and wemet all our numbers this past quarter. You know, investors have given us athumbs up again, a little Christmas basket from from the guys over here atfreedom venture investments, and it allows them to grow retirement accounts.The question I would ask anybody is this, I always say to them, what is yourplan for building wealth. And that's a very general term. But building wealthto me means my next generation is in a good position, my grandkids are going tobe in a good position. And if I stay on the trajectory that I'm on and if youwant to come on it to that my great grandkids are going to be at a really goodposition going forward. Because commercial real estate has outperformed allother investments when we do a 20 year look back outperform the stock marketoutperform retail outperform light industrial outperformed office, it'soutperformed everything, because multifamily investing is a work horse, it isthe Clydesdale. It goes in and it works and it grinds and it continues to growover time. You know, the one percenters of the institutions, they use aterminology when it comes to apartment house investing, they call it like thedepository for for growth, creation is what they call it, it's where money goesto just grind. And the way that we're able to do this is we buy apartmentcomplexes that need a little bit of love. We have a strategy that's called coreplus, core meaning cash flow plus meaning a little bit of love needs to be putinto these apartment complexes. Our lead generation right now is ridiculous. InFlorida. As I said, when I was talking to Matt, I said, Matt, I think I have somany conversations, I can't remember what he said it. So we have three moreproperties. Under agreement right now down in the Florida market. capital islooking to go to work and we're in a position to to attract that capital onthese assets. So we reposition these assets, we raise the rent a little bit,we'll do some minor repairs, we get rid of the bad management or the overpaidmanagement companies. And every every complex we take down as its own businessplan. And then we hold on to them inside that fund for five to maybe sevenyears. But we always say around five years targeted strategy. And that thattime our investors are targeted to get double digit 20 plus percent returns on theirmoney. And it's a just a powerful way to grow retirement accounts of wealth.Now what we're also doing, which is very exciting, we're now doing what wecalled sidecar deals. These are deals that don't match our requirement for thefun, they might be a little more aggressive on their rehab. And then we dothese one off deals. We got one right now it's 81 units. It's in Eustis, andand Leesburg, which is just north of Orlando $81, we're going to buy that forabout 7.2 million, we're going to put 3 million of our investor group capitalinto it. Well, I'll pull out our funds together and put that capital up. We'llhold that for maybe two or three years, it's a shorter hold. But again, thisone's a double digit return, you know, 10 to 14%. Targeted returns quarterlydistributions. It's exciting. It's not the same old, same old. So if you wantto learn more about it, call me. I'm old school. I got a phone number781-922-4418. So you heard you heard me on the on the real estate revealedshow, right? Yeah, you heard me on the radio. I heard it on the radio, you canreach out to us of freedom. freedom The question Ialways ask is, what are you going to do different this year because I promiseyou there will be fallout from COVID, we will see an inflation challenge overthe next two to five to seven years. And lazy capital that's earning less than3% 4% 5%. That money is going to start working at a negative yield becauseinflation will take it out of the game. So will you be prepared for that? Andwhat financial strategies are in place so that everybody who listens to thiscomes out a music tour and not a victim of the financial crisis created byCOVID? Because I promise you it's common. And will you be lucky? Will you beprepared when the opportunity arises? So circumstances will change my friends Ipromise you that nothing stays the same. But I look forward to talking with youpretend to be partnering with you take good care of each other. And next weekI'll see you same time same place real estate revealed they've seen my takecare


Intro Voice Over  59:30

anysecurities being offered are under an exemption provided by sec regulation Drule 506 c only accredited investors who meet the SEC regulation d 501.accredited investor accreditation standard or who provide suitable verificationof accredited status may invest into these offerings. Any historicalperformance data represents past performance past performance does notguarantee future results. Soon again next Saturday at noon for real estaterevealed hosted by Dave Seymour, this Star of leaving Boston and CEO of freedomventure investments in Denver.