I'd like to ask you, Glen Mather, what is the BIGGEST RISK?
Glen Mather 39:19
is this? Are you asking us for my clients and self directing?
J Darrin Gross 39:23
Yep, I'm gonna let you define it for you to kind of, however the BIGGEST RISK, you see, what would you see that is, if it's a client's that's, that's great.
Glen Mather 39:33
I think when you go well, with any kind of investment, you kind of have two choices. You can invest based on the recommendation of others, or you can invest based on your own knowledge. And certainly, maybe alongside recommendations for others where you can actually do your own due diligence on the process. That's what self direction is all about. And if you just get tagged if you're just coming along and doing an alt with a recommend from somebody else, that you don't really know the basis of it, then you might as well be in the stock market. It's no different. I think the the risks, the risks are no greater or less, it's when what you're doing is you're mitigating some of those risks, as you said, or lessening some of those risks through your own knowledge. And, you know, I've certainly heard that Warren Buffett say several times about he won't invest in any business he doesn't understand and I take that to heart is I don't invest in anything and I get some pretty creative things that are thrown at me. And I just recall something if I can tell a brief story, there's a new freeway that's going around Orlando, on the on the west side of Orlando, and it's it just completed almost all of its stops. And, but when you when you build a ring around the city, you generally go through wilderness, right? There's nothing there yet. The freeway effect which we learned in LA right, which is you put a freeway houses are going to come When you own the land around interchange, it's valuable beyond belief, right? So I had I invested in something like this similar that worked out and then the guy told me, he said, I got another interchange, I go great. Bring it in and show it to me. You know, and by the way, it's only for me, it's not for my clients, I don't share it with my clients. And he talked about how he has a land option is going through this company and then you taking that you're splitting the depreciation off and you're moving it to a third company. And then there's a developer who gets 15% of the back end load. My head was about to split. You talk about being the slow guy in the room I was I couldn't get it and I I stopped it after about 30 minutes of trying to sketch it out on a pad and I said I can't invest in it. You guys got a phenomenal track record. All I'd be doing is throwing you money and I trusting you and I don't want to do that I promised I'm not going to do that my with my IRA and or my any over my retirement. So that's been my mantra, the less I know, the more I'll go to partnering until I know, without a lot of money, so, so my risk is mitigated by the fact that generally on my investments until I get to an educated state, is that I'm in it with you. If and if I'm in it with you, Darrin, I suggest that you're probably pretty interested in your money and your segment, you're going to make sure it's as good as your education. So that's kind of as close as I get to risk is, I may look at a deal. I'll educate as much as I can, and then I'll go in at 20% with Darrin. And if Darrin is screwed me is screwed himself 80% you know, and you're not going to do that. So I think it's a pretty fair and easy way to learn and to reduce the risk. But make no mistake, it's on you. No one else is making these selections. It's on you. So that's where the risk lies. And and I don't think that you should be somebody anyone should be scared. Do it with their retirement plan and be Cavalier enough to shove it to somebody else and say go manage it for me. We're in it's stunning because I talk to well educated people. And they're very quick to wave off and say, I don't know anything about investing. I make 600,000 a year but I don't know about investing. So I have my buddy take care of it. I just like it. It shocks me.
Today my guest is Jake Marmulstein. Before grant before founding his company Groundbreaker, Jake held a number of roles involving real estate and technology, supporting the growth of early stage digital technology ventures, while working with the government on foreign direct investment by Fortune 500 companies. In 2011, he started his career in real estate underwriting hotel investments for Watermark Capital Partners. He graduated from Cornell University with a major In Hospitality Management and minor in Real Estate. And at Groundbreaker Jake owns the company strategic vision and execution. He is responsible for sales, management of the departments and people leading them. And Jake also manages the company finances and capitalization as well as the board. And in just a minute, we're going to speak with Jake about software automation, for real estate, fundraising, fundraising, and how it can be an asset to you.
I'd like to ask you, Jake Marmulstein, what is the BIGGEST RISK?
Jake Marmulstein 35:38
So Darrin, the BIGGEST RISK for Groundbreaker in as I as I look at our business, and what we're doing is really managing expectations with people. Software is a living, breathing thing. And it is very challenging for people to evaluate. who aren't typically Software buyers and a lot of people in real estate aren't. So our job is to be good stewards of the, you know, good stewards to other people, treat them with respect and give them the most transparent access to what's really going on and what really our product provides when they're evaluating it, and trying to understand how they can improve their business. And that's how we mitigate that risk of mismanaged expectations and somebody getting something that they think does "x" when it really does "y". And so it's about just education, mainly.
Today my guest is Yakov Smart. Yakov is considered to be the leading expert when it comes to attracting A list investors and raising capital using LinkedIn. He is the author of Disrupting LinkedIn and a sought after authority by top business owners and sales leaders worldwide. Yakov has shared the stage with Samantha DeBianchi of Bravo's hit TV show Million Dollar Listing. And he's been a guest on numerous media outlets. As a resident of Scottsdale, Arizona, today, Yakov is a proud leader of LinkedIn Enterprises, where his webinars on demand training programs and strategic consulting accelerators give people proven tools and techniques for transforming their LinkedIn profiles into priceless relationship building assets. And in just a minute, we're going to speak with jack off about how To raise capital and attract high net worth investors using LinkedIn.
I'd like to ask you Yakov Smart, What is the BIGGEST RISK?
Yakov Smart 41:51
Right and it's a it's a great question. It's not something that I you know, honestly think about on a daily basis. I guess I'm you're a little more. You know, you see, you see A lot more different scenarios as being an insurance than I probably do when it comes to risk. But I'm gonna I'm gonna give a bit of what might be a bit of a surprising answer here. I think the BIGGEST RISK is a combination of plagiarism and misinformation because in the space, let's call it mentorship or online programs or coaching, consulting. There's a lot of knockoffs. There's a lot of people who are trying who here's something, it's good, they claim it as their own, or they put a slightly different flavor on it and they go and they completely knock off content ideas, intellectual property. And they you know, sometimes do it without repercussions sometimes do it for a while. So, you know, it has a lot of people in the space that I met and also, you know, a lot of coaches in the real estate space as well specifically, a lot of us understand that the bigger we get, especially if we And scalability reach or impact that's just a risk that naturally comes up. So you know to mitigate that risk and what puts me at ease around it is somebody could duplicate content okay? I mean and plagiarize and and do whatever but you know what I know at the end of the day is the unique way that I have delivering it and also with working with people, that's just not duplicatable because that's personally my unique perspective, my insight, my approach my methodology. So and the other side of that is misinformation. Someone you know, can play the blame game and say, well, you they can do something stupid, for example, on LinkedIn and post their deal and, you know, not be compliant with the SEC not something that I would tell them to do first of all, but then they could say, well that that guy said I can mark it on LinkedIn. So I can't I post my deal and say invest now on it just to the public. Like it's, you know, obviously something that I wouldn't recommend anybody does. But sometimes there's misinformation or people misconstrue things and human error. So it's always a risk to I mean, humans are humans.
Today, my guest is Jason De Bono. Jason is the NuView Trust Company, Vice President and in a little bit he's going to share with us the benefits of using a self directed IRA.
So, with that, I'd like to ask you, Jason de Bono. What is the BIGGEST RISK?
Jason DeBono 44:22
I think the BIGGEST RISK for a self directed account is that you take responsibility for all the investments, and it's a risk of personal accountability, right? If you keep your IRA in the stock market, one really nice benefit is that when it goes up and goes down, you know, you can kind of finger point your way around around it. Risking in a self directed account means you're taking on all the risk. There is no broker, there's no third party, you know that that's making your investments on your behalf. Now, in a self directed account, you can certainly rely on professionals right. Commercial brokers that can give you guidance and Advice insurance agents that can help you walk through the process. So you can get professional opinions, but at the end of the day, you're the one saying I want to buy that. And so that is your risk that you're inheriting. Obviously, you know, I love your, your example of kind of the three approaches, right? Which is to, to, you know, to look at risk, and understand whether or not we can avoid it, minimize it or transfer it. And I think excuse me, in a self directed account. From an investment standpoint, you can do all three of those things, you know, you can certainly, you know, avoid the risk by buying investments that have less risk, right? You can minimizing it, minimize it by educating yourself, right? So many people look at investing and wonder what went wrong and you know, there's a good saying I rely on all the time and that is the cheapest lesson that you'll ever learn is somebody else's. And you know, we we all learned lots of lessons the hard way and some of those can be very costly in terms of time, energy and money. So when it comes to Investing seeking advice and counsel and knowledge and expertise is is a wise thing to do, literally and figuratively. So you can minimize your risk by investing into what you know and understand it. And then transferring risk, you know, make no mistake, if you move money from stocks and bonds into the real estate market, you're transferring risk, right? you're transferring the risk and exposure in the stock market to the risk and exposure in the real estate market. And that's a personal decision that each and every person that makes that, you know, choice has to look at. And for a lot of our clients, they're reducing risk by moving it right. They're transferring risk from one asset class that they don't know a whole lot about to an asset class that they in most cases know a good deal about. So all of those kind of long answer to a short question. But But without a doubt, if you're going to self direct your account, the risk you're taking on is that you are 100% responsible, NuView will not offer you an investment put you in an investment recommended endorse it, approve it. It's 100% self directed
Today, my guest is Jon Bell. Jon is an IT professional turned real estate investor. He's a he specializes in vacation rentals, and today we're going to speak with him about Airbnb. He's also got a podcast he hosts the podcast Vacation Rental Machine Podcast. And he's also the co founder of the Vacation Rental Machine Formula an online training.
I’d like to ask you, Jon Bell, what is the BIGGEST RISK?
I'll answer it and maybe the most common risk that people assume when they think of short term rentals or specifically Airbnb s and that is major parties. People messing up your your place. With my experience, it's not the major risk, it is something you can hedge off. And this is how you do it. You pretty much need to make sure that you have proper systems in place and technology. And that really looks like you need to have some type of external camera and a noise monitor or a noise monitor, in general in every place if you cannot put a camera that lets you know before anybody else is pissed off enough to contact anybody else or call the police that something is going on that you need to pay attention to. And you can back that up with evidence and you can evict the guests and keep the revenue without creating a major problem.