Focus, Partnerships & Profits in Real Estate with Aaron Fragnito

Speaker A: Hey everybody, this is Andrea Jensen from, um, the Cash Flow cfo. And you're listening to the Cash Flow CFO podcast, the show that explores the financial side of running a business for people who want to maximize profitability and scale with confidence. If you want to make smart financial decisions based on data and put more of your hard earned profits into your pocket, this is the podcast for you. This episode of the Cash Flow CFO Podcast is brought to you by the Cash Flow cfo. Did you know that on average business owners have up to 84% of their personal net worth tied up in their business? Our virtual CPAs and CFOs as well as accounting and bookkeeping experts, empower business owners just like you to make big leaps that help them maximize profitability and scale with confidence. Visit thecashflowcfo.com for more information and thank you for listening. Hey everybody. Today my guest is Aaron Fragnito. He is the co founder of People's Capital Group. Aaron is a full time real estate investor with a primary focus on helping accredited investors, family offices and RIAs preserve their wealth in real estate. He's also known as the New Jersey Real Estate. Oh, I'm sorry. He's also the host of the New Jersey Real estate Network, the Passive Cash Flow Podcast. I like that name. Uh, Aaron has completed over 300 real estate transactions and helped over hundreds of people build their wealth in real estate while focusing on developing strong relationships with family offices and understanding their vision and helping them execute their goals into reality. Welcome to the show, Aaron.

Speaker B: Thank you, Andrea. Glad to be here. Thanks for having me.

Speaker A: I am excited to talk to you because, um, you know, fractional cfo, we help people build and grow wealth through their business as an asset, which hopefully, uh, at some point they are going to exit that asset, um, with a tremendous amount of money. So then they can go and invest in some passive, uh, offerings like real estate. So excited to talk to you. Um, tell me, how did you get started in the real estate market?

Speaker B: Well, uh, Andrea, it was 2009 and uh, the storms were, were blowing. It was uh, the worst, uh, recession, you know, I've seen in my, my lifetime really. And um, so I was graduating Rowan University with an entrepreneurial degree and I was like, what do I do? I remember I went to a job fair and there were two companies there. I think it was Enterprise Rent a Car and, and like Prudential. And I was like, I could sell insurance or I could rent cars. That seem to be the only options, uh, you know, or start a business. Right as I had a small landscaping business in college and high school. And uh, so I wanted to be a business owner. I wanted to um, you know, build and generate wealth and help people do the same as well. So I read a book called Rich Dad, Poor dad and uh, the Purple Bible here, uh, in real estate. So I said, you know, that's what I want to do. I want to own and manage real estate on a large scale and built my wealth that way. Pay myself and my investors using the bank's money and try uh, to you know, build my wealth exponentially and create passive income. And I made a, uh, I made a list. I said, okay, after 10 years I want to uh, have a net worth of $1 million and uh, passive income of $100,000 uh, per year. And uh, that was the end goal. And I kind of worked my way down from that. Okay, I need to learn the industry, make connections and earn, earn some money. And I said, okay, I can start as a realtor. So I um, started working as a realtor and a wholesaler and I was stapling signs, telephone poles and finding deals that way. I bought a 6 unit with my business partner Seth Martinez, who I am still in business with till today, uh, who is expert ah, at operations and had sold a medical billing company. I was more on the deal side. I was good at sourcing deals. So our strengths complemented each other's weaknesses. And um, we bought a six family together. We renovated it, we leased it up and we refinanced our money back out about a year and the light bulb went off. We said this is a great way to build and preserve uh, our wealth. And uh, tax free, we paid ourselves back all the money. We're like, we can recycle this. And after doing a few more, realized it was very a cash intensive business and needed to raise capital. So we started a group called New Jersey Real Estate network where I'm meetup.com with about 5,000 members today. And uh, we started raising capital from outside investors and inviting them in to participate in our deals. Uh, we developed a management company in 2015. We fixed and flipped a lot of properties. We wholesaled a lot of properties. We bought small Maltese, big Maltese and uh, sold some through the years, refinanced others and uh, now have a nice uh, portfolio and a good uh, vertically integrated investment firm here in New Jersey. Um, then we focus strictly on the North Jersey market. We buy 50 to 100 unit, uh, apartment buildings here that allow you to commute to Manhattan in about 30 minutes. To an hour. And um, that's our, that's our sweet spot. Usually vintage real estate. We can reposition like a class C into a class B with a lot of value add opportunity. And we do that with our in house management company, about 100 investors, some family offices, high net worth individuals and um. So yeah, that's what we've been doing here for the last 13 years or so.

Speaker A: Yeah, yeah, I love that. And taking advantage of cost, uh, segregation, tax, all the good tax stuff that you guys get, um, you know, strategically using real estate for that. So I love that. And congrats on all the success that you guys have had. I think that more especially business owners, right, we're, we're so used to I gotta actively generate income and I have to do the doing and deliver the services. Um, and we don't, we're just so ingrained of working hard that sometimes when someone says oh yeah, that you can passively, you know, have a revenue stream, they're like, yeah, too good to be true. Uh, so I'm sure you've talked to plenty of potential investors, right, that are business owners. Um, how does some of those conversations play out? And what are the things that you say that make the light bulb go off in their head to go, I actually should be doing this. Why am I not already doing this?

Speaker B: M. Yeah, I think it's um, well, the first reason, you know, anyone invests in anything else than, you know, mutual fund in the stock market is uh, generally to beat the returns of the stock market. You know, we explain we are targeting 20 annualized returns with our investments and you receive a 50 tax, uh, write off when you invest. They're like, oh, that's interesting. I don't get a 50% tax write off when I buy a mutual fund. And you know, mutual funds can do 20% a year, you know, and they can also go down 20% a year. Right. So, um, but yeah, real estate tends to produce consistent cash flow and equity growth over time, especially if you like value add like us. But you know, it's really all about trust. It's about building a relationship with someone, understanding their needs. Um, it's not right for everyone. I mean, real estate is an illiquid asset. So it's about a five year investment period. So if you're 80 years old and you know, you need, uh, access to your capital on, you know, a monthly basis or something, or you're not sure if you'll be around in five years, you know, then it's probably not a great investment. But if you're in generally ages 40 to 65 or so and you're looking to, you're kind of that period of time where you have some capital to invest and it's time to accelerate your wealth and you really want to grow it as quickly as possible so you can get ready for retirement. That's um, a great client for us to work with and someone that you know is a little tired of the volatility of the stock market and uh, is maybe a self directed IRA because uh, that can be great also for avoiding taxes or deferring taxes, depending on the type of ira. And um, so we tend to find people that are excited about alternatives. And what's interesting is I work with family offices as well as you mentioned. And um, a lot of family offices, like 60, 70, 80% of their wealth is in alternative investments, uh, a lot of it real estate, but also venture capital and uh, other types of alternative investments outside of the stock market completely. And then a lot of people who I talk to that you know, are high net worth individuals, accredited investors, work very hard, maybe 50, 60 hours a week, um, and earn uh, a decent income, um, but are kind of working to one day hopefully become perhaps a family office or somewhere on that level of wealth, um, are generally invested the opposite, like 80% in the stock market. Maybe 100%.

Speaker A: Right.

Speaker B: And the mindset is I want to avoid risk, therefore I'm going to put all my eggs in one basket and invest all my money in the stock market. And you know, you can avoid, you can diversify in the stock market. A mutual fund, for example, can buy, you know, all the uh, prop. All the companies in the S&P 500, you know, so you could be diversified over many, many companies, however, or even many industries. Right. However, at this end of the day the, the stock market tends to kind of work in lock and step, you know, so if it's going down, it's all going down. If it's going up, it's all going up, you know. And uh, now there's obviously options, there's specific equities you can buy, there's different, you know, strategies within the stock market. But it's an interesting, you know, and props to the financial advisors around the world who have, you know, moved that message forward successfully to so many, uh, investors, uh, that you know, the safest thing to do is have 100% of your money in the stock market. I would say, nay. I think from what I've seen the company, the groups that have $250 million net worth. Plus they know something and that's why a lot of their capital and wealth is in alternative investments. Tax benefits, the growth benefits, the potential to outperform the stock market significantly, uh, the ability to be recession resilient. You know, when stock uh, market goes down, uh, a non liquid asset just kind of keeps chugging along, you know and eventually we'll sell in better times, you know. So um, I take my investment lessons from people that have, you know, that $250 million net worth. And I want to replicate what they're doing, not necessarily what someone who has a million dollar net worth who's working to get to that level. And I think investors should take a page out of that, that book focusing on alternatives.

Speaker A: Yeah, no, absolutely. And I think there, you know, there's something to be said for diversification. But also, you know, uh, one thing that you mentioned in the beginning when you were talking about how you got started is you, you had an idea of what you wanted that end goal to be and you reverse engineered it. Right? And now you're talking about okay, I'm going to follow somebody that's got the net worth that I want and what are they doing right, and following along those pathways. Um, and I think that too a lot of the traditional you just go and invest in stock like that was generations ago. And I think we're a little bit, we have more options now. Um, and so there's, you should be curious if you're not already and be looking at other things that you can, um, you know, you can, where you can put your money strategically while also harvesting tax strategies. You know, things that you can use against actively generated income in your business is really smart to do. So. I love that you're talking about this. Um, and one thing just for our listeners, M. If you could just quickly. Accredited investors, what exactly is that?

Speaker B: Sure. An accredited investor is someone that has a net worth of $1 million, not including their primary residence or an income of 200,000 individually or 300,000 including their spouse. So the SEC limits certain fundraises. Essentially we file a reg. D506C. That limits us to taking capital investments from accredited investors only. And the idea behind that is that accredited investors have a certain level of wealth and or income and they are sophisticated enough to make a wise investment decision and understand the risks to that investment. Um, now in reality it's not really a perfect structure because I've met people who are not accredited who are like super sharp in investments and you know, maybe they are almost accredited. They're working to get to that level. They're not just not quite there yet, but they're close. Um, but they're like very sharp on real estate investments. They understand IRR and you know, all the, the uh, details of, uh, investing wisely and the structure and leverage and so on. Uh, and then, you know, not to be harsh, but I've also met accredited investors that um, don't have, uh, very much investment experience at all. You know, someone in a completely different industry. And they might be an excellent doctor or a surgeon or an attorney, you know, and, or someone or a business owner, right, that owns a factory that makes widgets. And they've been extremely successful in what they do and they're great at it. Um, however, they don't have much investment experience or knowledge. And it's our job as operators and fundraisers to make our opportunities easy to understand, but also have that in depth, detailed explanation there if they want to go digging further or for the more savvy, sophisticated investors to review. Um, and uh, so that's how it works though. You know, the idea is once you have that net worth, uh, or that income, you can then participate in more exclusive alternative investment options. And it kind of protects the general public from getting in on deals they're not qualified to understand. And, and it gives us guidance as operators and fundraisers on who we should be soliciting, who we should be talking to and sharing investment details with.

Speaker A: Mhm. Yep. Thank you for, thank you for going over that. And, and you explained it in a very plain terms, which is great. Um, so everybody, regardless of, you know, if they've heard that term before, if it's new to them, um, they, you know, have that, uh, understanding. So let's, our audience is business owners, right? So let's, let's say we've got a business owner who has, um, you know, an amount of money that they are looking to, you know, put somewhere that's not going to be their typical returns in the market, that kind of thing. Stock market. Um, where would you say is a good place for them to get started to um, you know, should they start reading books on their own? Should they reach out to a firm like yours? What's a good place that you would recommend, uh, based on your experience, for that type of business owner to kind of start to understand, uh, the different options that are available to them?

Speaker B: Sure. Well, I think these days it depends how you learn. You know, if you learn well reading a book, go with that. If you learn well listening to a podcast, I mean there's hundreds, probably thousands of podcasts about just apartment building investing alone, I'd say, you know, and there are you. I mean, you go on YouTube, you know, these days, there's so much content out there, you could just read blogs, on websites. Um, it depends how you learn best, you know. And, uh, I tend, I mean, I'm very busy, you know, I'm a father, I'm a business owner. You know, I have a lot going on, so I tend to probably more realistically like, learn best on something, quite frankly, listen to a podcast, like driving in the car, you know, because that's like the one time a day I can like, kind of listen to something and I'm not doing 10 different things. The truth is, I don't really have time to like, sit down and read a book about something. I mean, I will if it's something I have to do for business or something like that or. Ah, I just read a book on potty training, you know, for my son. So like, you know, and then completely did, like, then it just all went to hell. Like, you know, whatever it ended up. And he just started going on the potty. So I was like, I read that whole book for nothing. But anyway, um, I did like everything you're not supposed to do. Yep, did that, did that already. Did that. So, like, all right, great. Through the book in the trap, they

Speaker A: still figured it out. Isn't that amazing?

Speaker B: He's a genius. He's got to take over a real estate investment company one day. He's got to learn how to go in the potty. So there you go. But, you know, the truth is like, you know, I maybe find 30 minutes a day to like, really read a book, and I'm like half asleep by that point. So, um, you know, how do you learn best? Right? And I, I have a podcast called the Passive Cash Flow Podcast. We do talk a lot about multifamily. There's many, many of them out there as well. You can check them all out. Um, you know, Spotify is kind of good with that. I know Apple itunes too. You can kind of like put in a topic and it'll really give you some very solid search results. Um, and I just find, you know, if you're a business owner, you're probably pretty busy, just like me. I'm a business owner too. And you're probably, you have that half hour commute, you know, to the office or whatnot a day. You know, that's probably the chance you'll have to really put something on and listen to it and make sense of it. Um, and, uh, so, you know, check out your podcast, right, or whoever you're having on here. But, um, that, that's a good way to go through it, you know. And, uh, we have like 190 plus episodes and we're on Spotify and all the major platforms there too. So it's the Passive Cash Flow podcast, um, but also YouTube. I mean, YouTube's phenomenal. You know, if I want to learn something, like I, I, uh, ride dirt, uh, bikes as well. And so if I'm like, trying to fix my dirt bike is something which I'm terrible at, I'm good at breaking, I'm not good at fixing them, uh, then I will go on YouTube, right? I mean, that's pretty much like my go to for anything, you know. And uh, so that's a great way to kind of learn things quickly and cover topics quickly. And then, you know, on there you'll find additional podcasts and we do like webinars and so on, but there's a ton of YouTubers out there with far better content than me. And, uh, you can check them out too.

Speaker A: Yeah, no, that's great. Thank you for those recommendations. I'm always trying to find things that, uh, you know, as Tony Robbins says, the net. Net time, no extra time. So am I doing dishes I can put on a podcast? Am I driving, you know, somewhere I can listen to something like that? So it's not creating extra work, right? You're kind of filling in the spaces in between with those opportunities to, to learn something new. So that's great. Um, so where, where would you recommend them starting? So should they go out and buy their own, you know, duplex, triplex? Or should they invest in a fund that somebody's doing it all for them and they can kind of observe and learn that way as their first kind of entryway into investing in real estate. Are you scaling your business but feeling unsure if your financial systems can keep up? At the Cash Flow cfo, my team and I created a simple tool to help you to find out if you're ready to, to scale in less time than it takes to drink your morning coffee. My 10 minutes to 10 million financial health assessment will tell you exactly where you stand and where your biggest opportunities for profitable growth are hiding. Get your free assessment today at TheCashflowCFO. Uh.com assessment and take the first step towards trust, true financial clarity and confident scaling.

Speaker B: Yeah, I'd say it depends. I mean, I, uh, obviously, uh, I operate a real estate investment company for passive investors. So my answer to this question is going to be slightly biased, you know, but I can say I've done it all. I've invested passively and I've invested actively. I've dealt with tenants, trash and toilets. And it is terrible. It is not fun. It is a management intensive asset class. It is why most people don't like real estate, because they do buy a duplex, they buy a six unit. You know, I'm in the first five unit I bought, I leased four, uh, out of the five units to TRO Tenants Temporary Rental Assistance. And uh, so they, uh, the deal with that is you get six months of rent from the government. After that six months, the tenants have to either have a job or be going to school to continue to get that rental assistance. I rented that building out in like a week. I was like, oh man, I'm the best leasing agent ever. Six months later, uh, 80% of those tenants were not paying rent because they didn't get a job or they didn't go to school. They didn't follow the rules of the tro. And I realized, uh, I had screwed up. I misunderstood how it worked. And uh, the quality of tenant I was bringing to my building took me another 90 days plus to get those tenants out. The units were trashed. I essentially leased the units to homeless people that had like rental assistance for six months. And it was, it ended up being a pretty rough scenario for me. I had to get the units renovated and so on. And um, then, uh, you know, learned a lot from that, uh, situation. So. And I have many, you know, stories like that. I mean, being a landlord is extremely frustrating and difficult. It's not the glorious end of real estate. Um, now it's an important end of it. You know, the way you manage a building, you know, you can buy a bad deal but be a good manager and make it into a good deal. You can buy a good deal but be a bad manager and it becomes a bad deal. So management is the most important thing. Now. You can hire a property management company. I did that one was stealing money from us. The other one just over promised and under delivered a, uh, third one. Just like, pretty much like, I don't know, just tried to avoid our calls and we finally like got a hold of them. They're like, well, you know, we're trying our best, bro. Chill out. You know. So, um, you know, and then we, we hired, we developed our own management company, which was extremely difficult and uh, is one of our biggest assets. So my experience with that is you know, it's a headache to own real estate. I mean, if you want to be a real estate investor and you want to start like a real estate syndication company, you know, and this is like your dream, your passion, then yeah, you should probably start buying real estate and dealing with tenants, trash and toilets. Get ready to get your hands dirty and get frustrated and have trouble falling asleep at night. Um, if you are good at what you do and you make money doing it and you've been able to put some money away and you have the degree, you've worked towards this position in your career, stay on that path. It is not more glorious doing what I do. Um, it is not more fun. The grass is always greener on the other side. Invest with a good operator who knows what they're doing. You can get in on big guys that have multi billion dollar funds. You can get on a small guys that are just getting started and get a bigger piece of the pie. You get on like medium sized guys like us, they're going to offer you kind of local market expertise, vertical integration, passive investment experience, monthly updates, quarterly financials, quarterly distributions right to your account. You know exactly what's going on with your investment and you don't have to do a thing. Now you're going to learn, you're going to learn from our updates. You're going to learn from, hey, the contractor didn't show up. Here's how we solve that problem. Hey, a pipe burst and caused $20,000 in damage. Here's how we solve that problem. So you're going to learn from us. You're going to see it all happening, but you're not going to be responsible for it. And you're probably going to make a better return on investment because let me tell you, that learning curve costs money. I didn't make very good returns on my first investments. I learned I fired three management companies to create our own. I think I made 8% return on my first deal, annualized between the purchase, the cash flow and the sal and like just squeezed out a profit. So you know, but I probably learned two, uh, hundred thousand dollars worth of education.

Speaker A: Right, So a lot of sweat equity in that one.

Speaker B: Yeah, exactly, exactly. You know, so, um, and then you learn, learn from the operator, learn from the guy who's been doing it for years, who has the systems in place and then you know, do that for a couple of years, make a return on your investment. And if you want to go out and start swinging hammers and sign a mortgage documents, more power to you, you might say I'm good. I'm going to keep making my 2x returns here. Investing with this guy and that guy, you could pick a few operators, you know, and spread the wealth. That's a good way to go.

Speaker A: Yeah, no, I love that. And I think, you know, the crest is always greener on the other side until you get there and you're like, oh, wow, I didn't know what I signed myself up for, so, Yeah, I love that. I think, you know, for the professionals or the business owners that are. Are listening. Right. Stay in your lane, generate revenue where you know how to do it best, and then, you know, partner up with somebody that can handle all the other stuff on the investment side. Because I think that, that, that is super wise. You don't. You don't know what you don't know, and that, that learning curve is expensive. So, um, so depending on what you want to do, if this is your hobby, right. I. I knew, uh, a couple that they said, oh, this is my retirement. They bought like a 12 unit and they were out there doing the yard work, the maintenance, the this, the that, uh, the other, you know, and they were like, no, this is, you know, this is what we do. This is. They enjoyed it and it was great. But not everybody is like that. And most of our listeners are not like that, right? They're. They're looking for, how do I. Where do I park some money that I'm going to get better than, you know, the best returns possible for what I have, so.

Speaker B: Yeah, yeah, exactly. And I, I also found, like, I. I loved ski, so I would. I bought, like, I, uh, started buying ski houses, and we would rent them on Airbnb. And it was cool because I could go up there and. And ski whenever they weren't rented, you know, and then I'd be like, up there and I'd be working on them, and then I'd be up there and I would, like, not ski at all. And then I'd have to go up there, like, just to fix them and deal with issues. And it got to a point I was like, I hate this. I hate. I'm literally skiing less than I did when I just rented an apartment, you know, or a house on the mountain. And I literally sold all my ski houses and was like, forget this. I'm just gonna. Whatever, you know, next time I go skiing, I'll just rent a hotel. I'll just get a hotel room. Like, this is for the birds. This whole, like, managing M and maintaining a bunch of properties three states away,

Speaker A: you know, it Takes the fun out of it. Yeah, for sure.

Speaker B: Yeah. All of a sudden, like, I. I didn't like going up to Vermont. I was like, pain in the neck, maybe. I get, like, a half a day of skiing in. And, uh, you know, now it's like, if I want to go skiing, I'll just rent a hotel room and, uh, enjoy a real ski vacation. That's. That's the life, you know?

Speaker A: Yeah, yeah. No, that's. That's. We always think we're gonna, you know, make it better by doing, you know, things like that. And then we. We learn the hard way. But that's. Most of us as entrepreneurs, we have to learn the hard way at some point for some things. So that makes sense. One of the other things that you said you did with your business that I really liked and would love to talk a little bit more about is the vertical integration. So you tried bringing in management companies. You realized that didn't work, and so you said, you know what? I can do it better and probably cheaper and all of those things. Um, what are some of the other integrations that you, over the years, have added to. To your. Your company?

Speaker B: Um, sure. Yes. So property management, we realized, was one of the most important things when you're working with other people's money and repositioning a vintage apartment building. Um, we've considered starting a construction company, but we, uh, chose not to move forward. That m. It's, you know, talk about management intensive. I mean, managing, you know, day laborers and so on is. And we work with good contractors that essentially don't need to market for any other business. We keep them so busy. They are independent contractors, but they almost act, in a way, almost like an employee. You know, we don't obviously have the payroll tax and the costs of having, you know, the insurance costs of having guys on our payroll like that. But, um, which kind of saves us money in the end. And sure, they make their little profit override. That's fine. But they're also managing these crews, you know, so we have about four different contractors. They're essentially kind of like general contractors that have generally two to four crews under them. So we'll have anywhere between like, eight to 16 crews going in any time. And, you know, if we had to have all these guys on payroll, it would be a huge cost. Right. And also, like, you don't always have that. Maybe at some point you need 16 crews going. Maybe another week you need eight crews going. Right. Because you. Slower turnover.

Speaker A: Right.

Speaker B: So, uh. And then what are you gonna do to those Other, you know, eight crews, you know, keep them on payroll, whatever, fire em and hire them a week later, like nah. So it's. So we have all independent contractors on that front. We also um, on the marketing side we really try to work with third party marketing companies, you know, or virtual uh, assistants. You know, I have about four virtual assistants myself. Uh, we also uh, our property management company has a number of virtual assistants. So it costs about twice as much money to have someone come into the office here and sit down. I mean we live in northern New Jersey. There's a very high cost of living here. Um, so you know, people expect to make a certain wage and then also you're asking them to come into the office, you know, which is an added task. So if we can hire someone for, you know, an equally good service as a virtual assistant and again you're not tasked with then oh, you know, what about a slow time, do we have enough for them and so on. They're independent contractors, you know, so um, that's really what we try to, we keep a lean and mean company here. We actually try to avoid any integrations. We don't need to do like, you know, construction and so on. Right. You know, we, we are okay with hiring good third party companies and then making their profit. And they're, you know, I, I've tried to create a uh, YouTube click funnel page. You know, it didn't come out that well. I've tried to create like Facebook ad, you know, that they didn't really get the results you're going to get from like a really good, you know, Facebook marketing company who like noses like the back of their hand. These guys, they got these like expert people. I've tried to make promo videos of my cell phone. It comes out looking like a promo video on a cell phone. You know, like hire the right people for the job, obviously, you know, shop around, get a good price. But at the end of the day you get better results when you hire professionals rather than trying to create every company yourself that you need to, you know, higher.

Speaker A: Yeah, and there's also something to be said when you talk about strategy and, and you know, growth through acquisitions or doing bolt on, you know, services that taking a cost center and turning it into a profit, you know, a revenue stream. But you also have, there's other considerations. Right. So if you were to say start a construction, you now are in a restricted industry. So financing is different, insurance is different. Right. So there's a lot of uh, other things to consider. You know, as you're doing as you're looking at doing that, that vertical integration. But, but yeah, no, I think it's always when you find really good people that are good at what they do, you don't always have to bring them, you know, in under your umbrella. You can still, you know, work with them. And like you said, you keep them busy enough that you don't have to worry about, you know, them going out and having to look for other work. So they're, they're very, um, probably loyal and best workers for your company, um, due to those, those circumstances.

Speaker B: And they're experts in the space. You know, they, they've been doing something longer than we've been doing. We recognize how hard it is to learn a new industry, you know, so we call those distractions, right? And we try to avoid distractions as best we can. We don't sell education, you know, we don't do the boot camps, you know, and maybe listen, that's not a bad business model. I know a lot of companies that do and they charge $20,000 for a, you know, package of books and CDs and you know, a monthly coaching call. Like, it's not a bad gig. You know, they're probably making some good money. But that's not what we do. You know, we sell quality investment opportunities to qualified investors and that's it. We, you know, you got to sell one thing too, like if you're selling everything and it kind of gets out of control and some of those, you know, guru coaches kind of rub me the wrong way as well, you know. So it's uh, kind of repackaging last year's product, you know, for a new price. But um, so yeah, I think that you got to know what you sell, you got to know what your services and uh, just do it really darn well be the best person in that, in that industry at it.

Speaker A: 100%. I agree with that. Awesome. Well, this has been such a great conversation. Thank, ah, you for sharing all of your hard earned wisdom, uh, with us today. And if so, somebody would like to, uh, learn more about your investments and work with you. How can they get ahold of you?

Speaker B: Sure. So Our website is peoplescapitalgroup.com that's peoplescapitalgroup.com Peoples with an S. And uh, we also have the podcast, the Passive Cash flow podcast. So we're on all the major platforms, Spotify, Apple, itunes and so on. And we uh, put a lot of content on YouTube. So you can just put People's Capital Group into YouTube. You'll see us pop up There I do monthly, uh, master classes on investments around real, uh, estate there. One, uh, popular one was your guide to New Jersey real estate investing. You know, we've completed, uh, about 300 transactions here in New Jersey. So we're very active in this market. We know North Jersey very well. We source great deals, and, uh, that's our specialty. So I'd say, you know, right now it's, uh, that's why people like investing with us. So, um, you know, again, we don't sell the education, but we have a lot of it. We have ebooks and information on our website there. And we're actually buying a property right now in Hackensack, New Jersey. So it's filling up. We have a number of investors interested. And, uh, you know, if you're an accredited investor, you can also email us@info peoplescapitalgroup.com we'll get right back to you. And, uh, you can reach me@Aaron, Aaron, peoplescapitalgroup.com as well. So. But it all starts with our website. Enjoy the content there and get in touch with our team. That's peoplescapitalgroup.com awesome.

Speaker A: Well, thank you so much. Uh, it's been a pleasure speaking with you. And, uh, I learned something new today, so I'm sure all of our listeners did as well. So thank you for, uh, sharing with us today. And, uh, go check out Aaron and his company if you guys are interested in, uh, learning more about how to have some real estate investments that you don't have to. What did you say, Aaron? Toilets. Trash. And there was a third one.

Speaker B: Toilet straps and tenants.

Speaker A: Yeah, that's right. That's right. Take the easy button and just invest in a fund.

Speaker B: There you go. There you go. Click invest here. Yeah, sit back on your money, you know, awesome.

Speaker A: Thanks, Aaron. I hope you, um, have a great rest of your day.

Speaker B: Thanks, Andrea. You too.

Speaker A: Thank you for listening. Don't forget to like and review and we'll catch you on the next episode. If you're looking for more content or resources in the meantime, check out our website for information, blogs, and our. I've got a spreadsheet for that series. That's thecashflowcfo. Com. Again, thecashflowcfo. Com. We can't wait to hear from you.