April 11, 2023

Captain Your Wealth to Accelerate Your Investing Success - Marshall Sykes

In the conversation with today’s guest, Marshall Sykes, he shares how came to be a prolific long distance investor, and how he chooses to invest in out-of-state market locations. Marshall explains the difference between landlord friendly states and non-landlord friendly states, how you can navigate the options to find the market location that is best for you, and lastly, advice for those who are looking to take their first steps into passive investing in real assets.
Billy Keels
CEO and Founder FGCP

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Going Long Podcast Episode 306: Captain Your Wealth to Accelerate Your Investing Success

( To see the Video Version of today’s conversation just CLICK HERE. )

In the conversation with today’s guest, Marshall Sykes, you’ll learn the following: 

  • [00:37 - 03:16] Show introduction with comments from Billy.
  • [03:16 - 07:08] Guest introduction and first questions.
  • [07:08 - 12:58] The backstory and decisions made that led Marshall to this point in his journey.
  • [12:58 - 16:53] How living in many different countries has influenced how Marshall operates today.
  • [16:53 - 20:04] How Marshall came to be such a prolific long distance investor, and why and how he chooses to invest in out-of-state market locations.
  • [20:04 - 22:21] Marshall explains all about the difference between landlord friendly States and non-landlord friendly States, and how you can navigate the options to find the market location that is best for you.
  • [22:21 - 26:33] Marshall shares some advice for those of you who may be working a W2 job and dabbling in the Stock Market but are looking to take your first steps into passive investing in Real Assets.

Here’s what Marshall shared with us during today’s conversation: 

  • Where in the world Marshall is currently based: Pinehurst, North Carolina.
  • The most positive thing to happen in the past 24 hours: Sitting and enjoying some time with his wife while enjoying cappuccinos! 
  • Favourite city in Europe: Sorento, Italy.
  • A mistake that Marshall would like you to learn from so that you don’t have to pay full price: There is no excuse to not invest, so whatever setbacks or life events happen, make sure to stay in the investing game!
  • Book Recommendation: Half Time, by Bob Buford. - https://www.amazon.co.uk/Half-Time-Bob-Buford/dp/0310344441 

 Be sure to reach out and connect with Marshall Sykes by using the info below:   

 To see the Video Version of today’s conversation just CLICK HERE.

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Episode Transcript

00:00

Today's conversation is sponsored by first generation Capital Partners. If you're an accredited investor, and you want to know about how we're helping other accredited investors keep more of their income, go to first gen cpe.com forward slash going long.

00:12

I do think that if you are a long distance owner, it is important to go to the site every so often or go to the property every so often. But the good news is that there are people that are looking for investors that don't have to live in that same location. You're listening to the going long podcast with Billy keels, the number one podcast for long distance real asset investing.

00:39

Welcome to the gold long podcast, we're back once again to continue to help to educate you so you feel much more comfortable as well as confident investing beyond your backyard. And yes, so I'm your host, Billy keels, and we are back for another amazing, amazing conversation. Today's guest, you're really, really going to take away lots of copious notes and be able to take lots of action really quickly. Also, for those of you who continue to leave your honest written reviews, as well as ratings, thank you so much. It keeps the podcast in the top 1.5% of podcasts globally. And also, thank you for screen sharing and capturing and tagging us across LinkedIn and Instagram. It's always awesome. And for those of you who want to be able to hear all the previous episodes, go to first gen cpe.com forward slash podcast, you can find every single thing there once again, first gen cpe.com forward slash podcast. And you can check it out. Well listen, for those of you who have spent like over two decades in the military working in engineering, or you really wanted to understand what it was like to sit at the dinner table of someone who grew up around real estate investing, like Today's guest has all of that. And he even has a global world perspective, because he's lived in multiple countries while he was serving the country in the military, and also working in different oil and gas projects. So this is going to be really, really awesome. I'm sure you're gonna love today's conversation with the owner of capital investing group, Mr. Marshall Sykes, and we're gonna get get to that just after this.

02:01

Are you a busy high paid professional, someone who's made $200,000 The previous two years and also expected to earn $200,000 This year, or maybe as a couple you filed jointly and you've earned $300,000, the previous two years, and also expected to earn $300,000 together this year, or maybe yourself or as a couple, you have a million dollars in net worth not including your home? Well, if you meet any of those criteria, then the IRS considers you to be someone who is an accredited investor. And so that probably means you're a top producing software sales executive, or maybe you're a highly paid consultant, maybe you're a lawyer, maybe you're a doctor or a business owner, you may even work for a professional sports franchise. But one way or the other, you've done a lot of really hard work to get to where you are, you've done 100% of the work. And nowadays, you're continuing to get crushed by taxes. And that means you're only bringing home 50% of the reward. If you're tired of doing this over and over and you're looking for a solution to start to keep more of your money, you can go to first gen cpa.com forward slash invest so that you can start to keep more of your money, which means that you can start to have the freedom to choose what you want to do when you want to do it with whom you want to do it. So once again, go to first gen cpx.com forward slash invest, to see how we can start to help you today. Once again. That's first gen cp.com Ford slash invest.

03:20

So you know what, if you're looking for a boost, to be able to Captain your wealth to accelerate your long distance investing success, then guess what? Today's a conversation you're gonna want to listen to until the very last word I promise. You know why? Because today's guest Today's special guest had the amazing good fortune of growing up in a family that was able to talk about real estate investing, and development at the family table. He has various degrees from North Carolina State University as well as the University of Texas, I really want to hear more about that. He's also a licenced professional engineer with three decades, although when you see him you wouldn't even believe that that was possible of project as well as asset management experience Scott over 24 years of serving his country in the naval civil engineering Corps, and we thank him for his service there. And you know what, he even served as a CEO of two engineering in two engineering commands in multiple countries, which that I really, really liked that with different operations teams and doing that up to like $2 billion. I want to hear more about that. It gives me great pleasure to welcome to today's conversation, the owner of capital investing group, Mr. Marshall Sykes. Marshall, welcome to the show, man. Hey, Billy, thanks for having me. It's a pleasure to be here today. You know what, this is a long time coming, man, because we like connected over LinkedIn. And then we were chatting and all this other kind of good stuff. But I was like, we gotta get this guy on the show and have him share his story. So I'm really, really excited that that you decided to join us today. Marshall, I want that going long family to get to know you as quickly as possible. So you know how this goes. I'm going to ask you two questions in the beginning. I'm going to ask you three at the end, and in the middle. I'm going to ask you some questions. I just don't know what those are yet. So let's

05:00

See, help us understand where is it that you call home in the US. So, you know, I've lived in a lot of places all over the world. But right now I'm calling home Pinehurst, North Carolina, which is a big golf and resort in North Carolina. We're actually having the US Open here next year in the summer of 2024. But also I grew up here actually my dad was my dad would retired army near Fort We live near Fort Bragg is kind of in the middle of the state, close to Raleigh, close to Charlotte, close to Greensboro, some good markets for multifamily investments. All right, fantastic. So you got Jesse, head back home. And partners is where you call home today, which really, really appreciate that. And the other thing is this positivity stuff, because I really, really love positivity, I think it helps to give a boost in our energy, and help us keep focused on the right stuff. So help us understand what's the most positive thing that's happened to or for you in the last 24 hours?

05:57

Yeah, I'll tell you that. Normally, I have coffee with my wife every morning, usually I'll get up. I lived in Italy for a while at didn't drink coffee. Before I went to Italy, I was in the service there and started really enjoying espresso and cappuccinos. So I kind of crafted that as I got back to the States, I started buying, you know, cappuccino machines. And I kept upgrading as I went along. But so every morning, I make my wife and I cappuccino and we sit down and talk for an hour. So you know, sometimes we're playing a game on their phone or whatever. But you know, they're sharing time together as we start the day. Love that to be able to get that quality time first thing in the morning and bringing that European kind of specifically the Italian, love coffee and being able to get that in the cup of Chino, for the first time of the morning. Absolutely love that appreciate you share that with us. And let's get into getting to know you even more Marshall. So as you know, I'm a recovering perfectionist, I think you've kind of probably heard that because most people know that about me. I tried to do really ridiculous things like try to tell your entire backstory in four seconds, or two and a half seconds or whatever it was impossible. You've done so many things, you've lived in so many different places. What I would love for you to do Marshall, please is share your backstory, in your own words, take the time that you need, you don't have to try to do it like I was doing it in a couple of seconds. And also if you can help us understand some of the major decisions that you've made to get to this point in your journey. And then we'll see where you and I take the conversation from there.

07:26

Yes, so my story is a little bit different for a lot of real estate investors, that seems I actually grew up in a real estate investment family, my dad had retired Army, and he wanted to work for himself. So he learned the building trade. And him and my mom actually were builders, and they would build two homes at a time normally. And they would keep one as a rental. And so one to live off of basically. And so sometimes that was challenging, because I have some brothers and sisters. So it was a big family. We all would work in the summertime with them on building the houses. So I learned, learned building at that young age. And when I was a teenager, and I thought I'd never do that, again. I never did this lifestyle. So I went to NC State, got my engineering degree, and then join the Navy as it gets what can my my engineering degrees in materials engineering, I couldn't find a job in that. So I joined the Navy as a civil engineer doing construction management. So it's back into construction. I think God had a plan for me. And that's what it was. And so I thought I'd go in for four years, and then get out. But no, I loved it. Actually, I loved in the Navy. I love doing the construction and being in the projects, as well as in the engineering design offices. So fast forward 10 years, I'm still in the Navy. And I've started thinking, Well, it's time for me to have some passive income when I retired, not just the military income if I retire as a military, but I want to have some passive income like my parents did. And do I guess and

09:06

and so I started thinking that my wife and I talked about a plan, she stopped working because it was hard for her when we moved around so much every couple of years. And it's hard for her to maintain a job anyway. So she started focusing on the real estate, we build up a portfolio of around 10 houses. And so we had some passive income coming in, I would say it was more of a break even at that point. But we looked for the future when we hadn't paid off, we would have passive income when we were retiring.

09:34

So that's kind of how I, you know, got started in real estate. And I guess some of the decisions. One of the things is that every, you know, a real estate in the military for 25 years, and I had a decision to make Do I go into real estate full time or do I do it still part time? And always it was always a struggle for me, but so I'll get into more of that.

10:00

As we go into this conversation a little bit deeper. All right now that sounds that sounds fantastic, I really appreciate you also starting out, just helping us understand that so many people move towards real estate, you had a very unique opportunity to really start learning about real estate from the very beginning, right, watching your parents build two houses at a time living in one side moving on the other some I guess we even call that like somewhat house hacking, you're developing and house hacking at the same time, which I think is absolutely fantastic. But it can you recognise that, that benefit that unique insight? Maybe if you could tell us because sometimes people, they don't hear what those dinner conversations are about. And I think there's so much learning that happens at the dinner table, like not maybe not formal learning, but learning that really helps in moulds, your worldview, can you maybe give us some insight into kind of some of the things that you were learning at the dinner table with those other brothers and sisters, while your parents were talking about what they were doing with real estate? Yeah, so yeah, we had a big family 10 People at the dinner table. So we had around tables was was kind of neat, really, and really enjoyed that. We don't have that any longer. But it was a pretty fun table.

11:10

But not only the conversations at the dinner table, but you're sitting there watching TV in the living room, you're here I'm hearing my parents talk about the business side of real estate. So what are they had to be prepared the numbers they had prepare the numbers prepared materials for the future. So I heard those conversations. And you know, I kind of put them in the back of my mind, I really think about it too much. But those are the kinds of things that you realise that entrepreneurs are always thinking about their business, they have to have to think ahead, they have to have time to do the administrative piece, as well as do the physical piece on the job site, which will help my parents were doing it. But not only that, just on the job site, we would learn how to put the tools away every night. It was it was an organised way of doing that there's an organised way of kind of just live in life, that makes it easier than next day. So that those are the kind of things I remember, as a child. Well, I think that's fantastic, right? So you're, you're absorbing this kind of by osmosis, but at the same time, you're recognising that there's a certain pattern to being able to do things. And from that view, and I'm an I'm going to extrapolate here, you didn't actually say this, but there's efficiencies that can be drawn from certain types of organisation, and being able to repeat and have a way of pulling things out putting them back, which I think is fantastic. And so I want to kind of juxtapose that, right, because there's organisation in the process and the things that you saw at the dinner table, I want to first of all, thank you for your service as well. Because that is something that I just like would like to do on behalf of the going long family, thank you very much for the service to our members. And also, on the opposite side of that organisation structure, you've had this very unique opportunity to live in multiple different countries, right, places like in the Middle East, in the UAE, or Iraq or Canada, and different places. Also, like Italy, you even started talking about a cappuccino, these different places and different inputs, is kind of like at the opposite end of the organisation that you that you had, so can maybe talk to us what it was about, or how living in different countries has also helped to shape your worldview, or the way that you are going about educating and or assisting others today.

13:32

Yeah, you know, as Americans, we kind of get isolated with the rest of the world unless you do a lot of travelling, right. But one of my first deployments in the Navy was actually to Well, I went I was in Guam for a little bit. So so how that an island country in the Pacific lives or, you know, operates. And then also the next time I went to Scotland, and Scotland is a Western country, as you know, in the Western world, and it's, but it's nothing like the United States. It is, yeah, it was a very cold, okay. And even though it's cold, you can only have the heat on two hours a day, you know, two hours in the morning, I'm sorry, two hours in the morning, two hours in the evening. That's just how they operate. So their energy is conserved, but also the convenience of the United States that Scotland really doesn't have that. And then I went to Italy and Italy was similarly I didn't have to have the heat as much. But because I was in Sicily, way down in the mid

14:36

the Kinesia the United States, it's very hard to beat that convenience, United States. So you learn that there's other ways to operate. There's struggle, people have struggles that maybe some Americans don't really see that the rest of the world has. And then um, you know, work for four months in Nigeria. That was that's definitely an eye opener. It's you know, 3025

15:00

30 million people in a city, it's, it's an amazing place that operates. I don't know how they operate with that many people but

15:09

somehow and opportunity to work in the Middle East as well, which was

15:14

a good way a different a different way their their standard of living is high, very high, especially in Dubai, where I was living at work most of the time in Iraq.

15:25

Very big contrast between those two countries even. But anyway, so all those things have really helped me understand what it's how good the United States really is, how much there is to celebrate in the United States, and how much we other countries do rely on us, to help them and to motivate them and, and really help them to be the best that they can be as a country. We're in you know, and so being able to have these different perspectives and worldviews and understanding and probably challenging the way that I'm from Columbus, Ohio, so I used to, I used to think that the world worked always in the same way that things worked in Columbus, Ohio. And then since then, I've travelled in 286 different countries, I've lived in Europe for the last 22 years, and so very similar to you, it's helped to form the worldview that I have. So one of the things that you focus a lot on, because you have these efficiencies, and you and you also are able to understand and explore the different ways of getting to a goal, right, I want to bring this a little bit back to real assets, right. And one of the things that I really appreciate about what you've done is, you've worked in an industry like oil and gas, which is something that I really, really like. And also another type of real asset, which is, which is real estate, and you've been able to do that, regardless of the borders, right? Because you are, you are the epitome of someone who has long distance investing, you're investing in different places, regardless of where you live. Can you talk to us about how you came to recognise that it's okay to number one, invest in a place where you don't actually live and kind of help that person who may be struggling a little bit today to get their head around the concept of Hang on a second, I can actually invest in something that's not that I don't have to walk down the street and touch or see.

17:14

Yeah, I mean, that's, in today's day and world, I mean, with with the online information that we have, it's easy to invest in long distance, but you got to have the structure in place, right the behaviour investing with, or you have to have a team, if you're the owner, you have to have a team there that that is operating locally.

17:39

I do think that if you know, if you are a long distance owner, it is important to go to the site every so often, or go to the project to the property every so often. But the good news is that there are people that are looking for investors that don't have to live in that same location to you. So you can invest anywhere where the prop where the numbers make sense for the investment, right. So that's what you're really looking for. It's not that you're wanting to go see your asset down the street, if it's not a good location, if not a good market, you want to go where the good markets are. And so I love the fact that you're right, you're leveraging technology, there's an opportunity to invest in teams, something that is extremely important for that person who did you use a couple of words like you want to invest in it in a good location or you are in market? I tend to call it a location. That's what

18:37

helped that person that's trying to figure out how do I know if this is the right team? How do I know Marshall, that this is the right location for me to talk to that person, how they can how you can help them figure that out?

18:50

I think I think it is important to look at the team, particularly the ones that are going to map the managing members of the team. And how do they have experience? Do they have experience in that market and the property and the type of property?

19:05

Are they going trustworthy to go the extra mile if things when things go start getting difficult with the property because that usually happens in real estate at some point.

19:17

The but as far as markets are concerned, like markets are increasing in population increase in job growth, and their rent gross are increasing. So those are the big three that I look for, but also is the property in a location that's landlord friendly, is it do they have landlord friendly laws and that city or that state that help investors? Those types of things I look for in a market

19:48

trusting that you're enjoying today's conversation. And you know if you're tired of getting crushed by taxes and you're looking for greater freedom, to be able to choose what you want to do when you want to do it, make sure that you go to first ncp.com

20:00

Are slash going long and see how we can help you today. Let's get back to the conversation.

20:05

I'm gonna ask you just to dig a little bit deeper into that last one, because I think that one's really important when someone's trying to figure out if it's landlord friendly or not.

20:13

What does that mean? And how can they find out?

20:17

You know, I think,

20:19

for me, it means that

20:23

the state or the city are going to allow rents to increase as the market dictates. Sometimes you have rent controls, where the costs are going up, the expenses are going up, but the landlord can't re increase the rent to pay those expenses. So then, then the, then the property starts getting into trouble. And there's not a lot of profit, there's not profit for the investors. And this was just so there's two things that are really want the going long family to hear what you just said, number one, it is starting out, as you said, for me, what does that mean? And so each one of you are going to come up with your own decision making criteria. And Marshall appreciate you using that very specific example. Because when you are doing this to also help to generate a profit or a return for investors, when there is something that could potentially restrict that, then that's one of the things that you have to take into consideration right as as the as the lead investor, or as someone who's even potentially going to be investing in a project. So these are like marshals helping you understand, or to be able to ask really, really key questions like, Hey, listen, what kind of state is this? What kind of what kind of locality is this? Is it something that tends to be much more landlord friendly? Or something that is a bit more investor friendly? And just a question to ask, and he's helping you to, to be able to do that. So

21:43

was there something you wanted to add on to that mark, I guess, for example, on that one, the state of Georgia is usually considered a very landlord friendly state. But Savannah is not a landlord friendly city. So you can't can't just look at the state, you got to look at the locale as well. Excellent. Really, really, really appreciate you dry really drilling down into that because it is, it's about the location, location, location. And then actually, where is the property located. So um, so I know that you are also helping lots of, of investors who are wanting to get involved that are looking to be passive investors.

22:22

But talk to that person who's really looking to get started, like they know that the Wall Street game is kind of like they've been playing it for a while, but they don't seem to be getting ahead. And they've now started realising that real assets are something that can actually touch feel have much more control over, but they're just looking to really up their game. What do you say to that person that's really looking to get started? And being more whether it's active or passive investor, what do you say to that person? Well, first of all, I think having a W two job is a great thing.

22:57

And especially if you really love your job, I love your industry that you're in. And I did that when I was in the Navy. I loved it and Exxon Mobil, the, I would say, I'll give you a story. So night in about 1990 timeframe, I had $25,000. And I wanted to put it in the stock market. So I went to

23:19

person that my brother knew we put it in the stock market. Fast forward about 10 years, it's worth about $25,000. I'm like, that's not really the certainty that I was looking for in the stock market. And everybody talks about the six or 8% growth per year or whatever it is for the stock market. It just didn't didn't happen. It didn't materialise. And so that kind of was an eye opener for me about the stock market. There's a lot of uncertainty in it, the things that world events can change the US stock market,

23:54

on a dime, and it's just amazing how fast they can change, you can change things. So I started looking for more certainty. And that's what drove me. That was one of the drivers for me to go back to multi buying single family real estate

24:08

as a rentals and so then I started thinking, okay, so what can I do as a then I started hearing about syndications. I had always wanted to do multifamily. I even built a four Plex with my mom and dad growing up, which my mom still owns today.

24:25

So I see the value of that. And I always wanted to do that I was building big barracks in Camp Pendleton, back in the round the 2008 2009 timeframe. And we built over 10,000 units there and it's very similar to multifamily development. So as an end in California was starting to pick up with multifamily out in town. And I always was intrigued by it, but I didn't think I could do it. So then I started learning about syndications. Uh, once I was at Exxon about 2008 1718 timeframe, I learned about syndications where you individuals can pull their money

25:00

Need to gather and buy an apartment building. And as I started out that way, as a limited partner, I basically I wasn't I was an investor, I just provided cash, the other people operated the the, the property. But as a limited partner, I was able to invest and learn about multifamily. And I think you can do that for other syndication other properties as well syndication can be used for self storage or other types of real assets as well. So I think for someone who's looking to get into this, I think, as a being a passive investor, as a limited partner, is a great thing, because you can learn it, and you can you can understand the terminology and you let other people do the work while you still enjoy your job.

25:45

Yeah, so in there is, you know, I spent 26 years working in the corporate world. And I think there are so many positive things that came as a result of that, I knew that I didn't want to stay there forever. So I didn't, but I agree with you, there's so many positive things that you can that you can gain from a W two. At the same time, when you look at a 10 year span, you have the same amount of money in the stock market as you did 10 years previous well, and just you didn't say it, but I'm gonna say it and kind of a probably an maybe not a nice way. But I mean, you basically just lost a lot of money because every year the cost of living increases and whether they manipulate that one way or the other. That's a whole different topics. We won't get into that but 10,000 or $25,000.10 years later is worth a lot less he buys buys a whole lot less so I appreciate you sharing that with us martial just gives us some some perspective. But one of the things that I do want us to be able to do is jump into the going long final three and the thing is martial. I never asked any of our special guests today or our special guests to go along final three unless you told me that you're ready. Are you ready? I am absolutely ready. You are absolutely born ready. I knew you were gonna say yes to this gave me I was absolutely not worried at all. And because you are a world traveller, this is going to be super easy for you. So we started with you over in Pinehurst, I want to bring things back over to this side of the pond. Even though I'm originally from Columbus, Ohio. I've been living over here in Europe for the last 22 years. I would love for you to share with us. What is your favourite European city that you've either visited or still on your bucket list to visit?

27:11

Yeah, I have visited quite a number of European cities but I would say the one I really enjoyed the most was the the Amalfi Coast and Italy which is Positano I really liked that and Sorento. So those are right there together. But if you were gonna stay there for a long term, I would say Sorento because it has a little bit bigger city, a little bit more offerings there. Alright, Sorento is a fantastic place, as well. So appreciate that. And I want to get into the next question, because this is you've got a lot of, you know, this is you and I both been very fortunate, we've been surrounded by a lot of really, really successful people. And one of the things that I've recognised from people that are extremely successful martial, as you will know, you've helped people 1000s And hundreds of 1000s of people around the globe, either in your corporate role, or now in your new and your new venture, not your new venture, but your venture with capital investing group. And one of the things I've recognised is that typically, every single time successful people do something, they touch something, they want to put a new project in place, they get everything right the first time, which allows them to go even faster and better than most. I think you're kind of looking at me, like really pretty talking about what are you talking about? Of course, it's a joke martial. I'm just joking. Nobody gets things, right, especially really successful people, they don't get it right every single time. The reality is, they make a lot more mistakes than most people probably 20 to 50 times more mistakes, but they're always trying new things. But that was a joke. This is not every single time really successful people make a mistake,

28:49

or have a learning opportunity. Every single time they stop, they learn from the mistake. And then what they do afterwards is just brilliant. They put different strategies, tactics and actions in place to minimise the probability of that exact same thing happening. So I'd love for you to share with us, what is the one lesson that you know that the going long family needs to learn or hear from you today to minimise the probability of some major catastrophe happening for them? What would you share with us? Well, I think one of the things I get go back to my real estate mistakes,

29:21

you know, that shared a little bit of the driver to get me back into real estate because the stock market just wasn't producing for me.

29:30

But, so I started investing in single family homes around 1998 99 and had one previous that that was a smaller one, but started really investing in 99 on build up my portfolio in about 2008 2009. There was a lot of you know, the single family home market, the real estate market kind of crashed.

29:54

It wasn't so bad where my properties were, but all the same, it slowed down

30:00

And I at that point, I was also I had two young children. I had a very demanding job that just made oh six in the Navy. And I was basically in charge 800 people. And you know, I started focusing on my job and my career a lot. I mean, I just didn't have time to focus on real estate as much. And so I slowed down.

30:21

And I really thought I'd just slow down for a few years until I got out of the Navy. And then I started working at Exxon and started travelling all over the world doing projects. And so it kind of snowballed until almost 10 years later, then I started investing back in the syndications multifamily syndications. But so I slowed down for 10 years. I think that was a mistake. I think it's a good idea to take an assessment of things you maybe take a year off, but it's also important to always keep investing. And there's so many different ways you can invest nowadays that there's no excuse not to invest in my van, you can, you can do single family homes, you can do Airbnb, you can do, what's your short term rentals, or you can do multifamily syndications, or self storage, just so many opportunities out there to invest in real estate. And just make sure you don't get off of the get off the bus, stay on the bus. And don't don't take that 10 year hiatus is what it sounds like to me make sure that you stay in the game. I appreciate you sharing that. And then Marshall one last thing before we hit the road. Help us with just one book that you'd like to recommend to the going long family today. Well, you know, I've had a lot of different shifts in my career. I have retired from the Navy in 2012. Worked for Exxon for eight years and then started doing real estate full time. So I always go back to

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this book by Bob Buford called halftime.

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I read that when I was coming out of the Navy, I read it again after I left Exxon. It's like it's it kind of gives you an idea to reset. It's an opportunity to reset like it's based on a football basketball team going into halftime and rethinking how they played the first half and what they want to do different in the second half. And so that's why I always go back to that. And I guess for me, it's more of like a hockey team that has different three different periods to halftime.

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But it's just something that it helps me reset and think about my life isn't about success, but it's about significance. Yes, I want success. I want to be successful, but it's really about significance. I want to live a life of significance. Love that. Absolutely love that view, Mr. Buford halftime and being able to live for significance. And listen, this is like it's one of the things like I can't believe these conversations go by so quickly. Marshall feel like we just got started in New York telling me about you and your wife and having that wonderful cappuccino that things that you learned when you were living in Italy and being able to bring it back and even tell people like one of your favourite places in the Amalfi coast. So head over to Sorrento and check it out. Being able to learn from your parents sitting at the table, listening by osmosis, understanding some of the different process and operational efficiencies that you started learning and then watching them like house hack before it was even cool that construction and you realise like, Hey, listen, you we went and got multiple degrees, and you kept coming back to this thing around construction and then being able to take that help it with a global perspective, being able to serve your country at the same time and and at the same time you had a really

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pretty

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what's the right word? Clear realisation that when you put 25 grand in the stock market and 10 years later was still worth 25 grand, like hang on a second, all the stuff that I was learning at home, I could probably put it into even more practice you and your wife you got started, you had your 10 assets that you knew were going to be paying you over time. And then you realise that there are even other ways that you can participate by passively selecting the right team, having them do the heavy lifting, and you also being able to participate which keeps you in the game even longer. And that's one of the things I know that you're doing even today with capital investing group and the entire go along family's like, hey, I really just asked him the question, man. So let me ask you on behalf of the entire going long family, what is the best way for going long family to find out more about you what you're doing Marshall and also to more about what you're doing at Capitano investing group? Yeah, they can certainly you can certainly find me on Capitan investing group.com where you can download my free resource basically were outlined my five top investment criteria. But also you can link in with me as well. I like I like LinkedIn I like love LinkedIn and when new people All right, fantastic. So check them out everybody at Capital investing group.com. And when you reach out to him, when you reach out to him on LinkedIn, please let Marshall know that you've already invested time listening, learning more about what he's doing his life experience and also how he is helping people today.

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That's gonna make the conversation much easier for the two of you. So, Marshall on behalf of the entire Golang family, I just want to say thank you very much for deciding to invest your time with me. And the entire one long family today. Thank you. Mobility. Thanks for having me today. It's been a pleasure. All right, fantastic. If you give me like 10 seconds, I'll wrap things up and we'll get you out of here. So go along family, just listen. He shared a worldview with you. He shared about the operational efficiencies, he's talked to you about the way that real assets and specifically real estate can help you to have more control of your life game, that significance that he was talking about in the book halftime. So take today's conversation, share it with family and friends have the conversation. And while you're doing that, I'll be here preparing for the next conversation. So until then go out and make it a great day. And thank you very much.

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Trust that you enjoy today's conversation. And once again, today's conversation was sponsored by first generation Capital Partners. If you're an accredited investor want to find out more about how we're helping accredited investors to gain their personal freedom even faster. Go to first ncp.com forward slash going on

Billy Keels
Strategic Advisor, Entrepreneur, and Investor
Billy is on a mission to share a roadmap and opportunities with other extremely busy, high-performing professionals on how to find freedom and live the life they desire. Listen in to learn how!
Guest speaker
Marshall Sykes
Multifamily Real Estate Investor and Syndicator
Marshall Sykes is a real estate investor at heart, having grown up in a real estate investing and development family. He is a General Partner in 3500+ multifamily units and has owned single family rental properties for over 20 years. Marshall had careers in the Navy Civil Engineer Corps and at ExxonMobil Global Projects Company. Highlights from his Navy career include leading a $5 Billion planning and construction program at Marine Corps Base Camp Pendleton which included $1B in multifamily housing. Highlights from his ExxonMobil career include managing $100M pipeline construction project in Iraq and managing business operations for $1.7B in infrastructure projects in Canada. Marshall resides in Pinehurst, NC and is a full-time real estate investor and owner of Capitano Investing Group.

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