Billy Keels  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 firstgencp.com, forward slash going well.

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00:12

Usually when I evaluate deals, and what I recommend to others is start with the big picture in mind. And that's the market, you can do a lot of things to a property that you cannot lift and shift it from one location to another.

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00:26

You're listening to the going long podcast with Billy keels, the number one podcast for long distance real asset investing.

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Billy Keels  00:35

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, I'm your host, Billy keels, and I'm really, really excited to welcome you back to another conversation. And before I do that really quickly, thank you, thank you, thank you for sharing across social media hash tagging us, tagging us and all that kind of good stuff, especially on LinkedIn Instagram platforms. It's really, really awesome. Thank you so much. Also, for those of you who are looking to leave an honest written review, as well as rating we really appreciate that as well. And if you want to catch every single previous episode, just jump over to first gen cp.com forward slash podcasts, you can check up everything Video, Audio transcripts, there, it's all over there. So check it all out firstgencp.com forward slash podcasts. Listen, everyone, if you want to leverage the expertise of someone who has been in the lending space for two, almost two decades, and understands both the analytical as well as the mental aspects, mental and emotional aspects of successfully investing long distance like you really need to just take a few minutes because the episodes are even shorter. That's what you've asked for. That's what we're doing. But today's is really, really action packed. Get your pen and pencil out, because she's gonna give you like literally a five step plan that can help you understand more about underwriting, doing it successfully, and also really understanding the mental side of investing. So we are going to get to the conversation with an amazing guest, who is Vesey, Gopal Yun, and we're gonna get to that just after this. Are you a busy high paid professional, someone that in the previous two years has earned $200,000 and is expected to earn $200,000 this year. Or maybe if you file jointly, previously, you've earned $300,000 The previous two years and you're also expected to do that this year. Or maybe if not, either individually or jointly, you have a million dollars in net worth not including your primary residence. If you meet any of these criteria, then you're someone that the IRS considers to be an accredited investor, that probably means you're someone like an enterprise software sales executive, you may be an executive in a major corporation, you may be a doctor, you may be a lawyer, maybe a high paid consultant, you may be worked for a major sports franchise, the thing I know you have in common is that you continue to do the hard work like you're doing 100% of the work. And you're only bringing home 50% of the reward because you continue to get crushed by your income taxes. If you are tired of this situation and you're looking for a new solution, then go to first gen cp.com forward slash going long. When you get there, that's going to help you to start the journey so that you can begin to take back control of your taxes take control of your time. And then also that means you're going to be able to spend more of the time that you want with the people that you love the most. And that is the way that you're going to get the personal freedom that you're looking for. So if you're looking to take back control, go ahead and go to first gen cpe.com Ford slash going long and see how we can help you today. So you know what, if you want to understand how having almost two decades of lending experience can absolutely propel your long distance investing success thing, guess what, today is a conversation that you're going to want to listen to until the very last word, you know, I I really, really promise because today's guest absolute awesome. Started out in business development. Check this out in the consumer products market. And I'm sure she's going to tell us a little bit more about that. But then afterwards, you know, said listen, I'm gonna go from consumer products to financial services, the financial services industry, where she has actually been a number of years and she'll tell us a little bit more about that, specifically overseeing risk management. And then in 2017, decided to jump into this world of real assets specifically with real estate investing. And you know what, not only has she gone to one, two, she's actually now investing long distance in multiple states. It gives me great pleasure to welcome to today's conversation the founder of DBA Capital Group, Vesey kappa Lyon, Bessie, welcome to the show.

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04:33

Billy it's so great to be here. Thank you so much for having me.

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Billy Keels  04:36

No, it's it's so much fun and I actually I think it's a couple of young and hopefully I got it right the second time, not the first time.

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04:45

No, you said it perfectly. It's a difficult name to pronounce.

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Billy Keels  04:50

Oh, fantastic. Fantastic. So it really really is great to to have you here after having known you for a while and just didn't have you here and share your entire story or guess maybe just a little part of your story with the entire going long family. Really, really looking forward to that. And you know what kind of have to like really start jumping right into the questions. Because probably not one of the things about me is I'm a recovering perfectionist, and I try to do these things that are sometimes impossible, like telling your entire backstory, and two and a half seconds. Eventually, we're gonna give you the opportunity to tell your backstory. But before we do that, and by the way, because you're our special guest today, you can take as much time as you want to tell your own backstory. But first and foremost, help us understand. Where is it that you call home today?

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05:35

I currently reside in Los Angeles, California. So West Coast of the United States.

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Billy Keels  05:42

Wow. Over there on the left coast. So All right, fantastic. La, did you want to add something else? It felt like you wanted to add something else?

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05:48

Well, I'm originally from Bulgaria, actually from Europe. So did the reverse trip from Bulgaria, to the United States. And I've moved around quite a bit. But LA. I've been in LA since 2009. So the longest and this is where I call home now.

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Billy Keels  06:09

All right, fantastic. Fantastic. So yes, we were talking a little bit about that before. And I'm sure we'll continue to talk about the our your trans continental stories afterwards as well. appreciate you sharing that so on over on the left coast and help us understand what's the most positive thing that's happened to you in the last 24 hours, Bessie?

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06:26

Well, first of all, I'm really happy to be here and share positivity and a great message with the audience. But very grateful this morning, my family and I went through some challenges over the past couple of years, mostly health issue related, but very happy to have my both of my parents with me and just be able to spend time together with them. So just little little things that make a big difference.

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Billy Keels  06:52

Yes, that's absolutely fantastic. Really appreciate you sharing the positivity, because there's much positive energy we can put out into the world, we all need more and more positive energy. So so thank you for sharing that with us. And definitely being able to have invest time with with family, friends, loved ones, parents, especially, it's something that's super special. So thank you for sharing that with us. And investing. Like I said before, I've kind of already told you, but I really want to give you some time to tell your backstory in your own words. I'm really sorry that I tried to do it like two and a half seconds. But that's just because I have this gene inside of me, which is like a recovering perfectionist gene. So please share your backstory in your own words, and take as much time as you want. And then we'll see where you and I take the conversation from there.

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07:34

Sounds great. And I will keep it more focused around real estate and kind of put the two the different pieces together, but we can take it in any direction. As I mentioned, I'm originally from Bulgaria. I came to the US about 24 years ago. And one could argue that that seed of real estate was planted in me many, many years ago, I grew up behind the Iron Curtain. And at the time, when people talked about investments really they had in mind card assets like real estate, jewellery, and more often than not hard assets in the context of you buy them, you hold them forever, and you pass them on from generation to generation. Maybe they cash flow, maybe they don't. So I had that sit there but it didn't quite germinate for a while I had this dream to come and study in the US and eventually go back to Bulgaria. But that never happened. I came to the US with my two suitcases and a lot of hope, faith determination. And one opportunity led to another I ultimately decided to stay here and this is now my home. With that said I took the more traditional path of going to school, eventually graduate school, getting a corporate job and starting to climb that corporate ladder with a lot of determination, which is what success looked like or at least that's what how it was painted to me from from various sources that my environment and my parents, everyone. So I set on that journey until about 2017. And that's when I made my very first investment out of state. And there are a few things that prompted me to do that. The clues were all around me. I just didn't see all of them immediately. But a lot of different things happen over a period of time somewhere public events like Enron and the stock collapsing the Oh 809 crash, which unfortunately left a lot of people devastated and their portfolios crashed their retirement savings crash for some unfortunately, at a time when they were planning to retire. Others people were laid off. My old employer went through a couple of restructure So I was very difficult to see some of my colleagues very talented, bright people let go. So over a period of time these events started stacking up and raise the question, well, what, what, what do I do? This happens to me. And my entire portfolio was tied up with a 401k with my employer. And that's at the time that seed started germinating. So I thought, well, maybe I should buy a property, hold it. And that will be my retirement nest egg. I as I mentioned earlier, I live in Los Angeles, California, beautiful place. Not very business friendly, not very landlord friendly. And my goal was cashflow. So that naturally led me to start looking into investing out of state and can certainly talk about that journey as well. It was nerve wracking, but I took that first step. And and that went well, which then prompted me to think about buying another property and another, this is all in the residential space. And that's when the light bulb went on. It was oh, this is not just a retirement nest egg, it could actually be something bigger, especially if that cash flow keeps building up. I was at that time I had started hanging in different investment forums. And one individual in particular mentioned, well, why? Why don't you consider multifamily. And so I went down the rabbit hole, learning everything about multifamily. And what it will take to make that transition, invested in education mentorship, joined a mastermind, and eventually decided to expand my portfolio still investing long distance out of state made that transition last year, and now looking to continue to grow, build various income streams and also help other people along the way.

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Billy Keels  12:00

So you know, being able to build those streams, and then also to help other people along the way is something that is pretty phenomenal. By the way, just let me just recognise you and acknowledge you for that. But there's something that you said that really kind of aside from the fact that you were investing long distance and you decided to do that the first time you said that it because you live in California, and you are focused on cash flow, although it was nerve racking, I believe is the word that you use, you decided to invest out of state right and this is something that resonates a lot with me because this is not just necessarily about looking at the numbers and we're going to come back to some money what I believe are one of your superpowers is really understanding the underwriting process. But there's also another part that really has to do more about the mental aspect of investing than it does to really the numbers and so because you talked about living in one place, knowing that you wanted to achieve a goal which was cashflow in I'm gonna make an assumption and you can check me here that you were not able to find that where you lived. You went through this nerve racking process but you finally decided to go elsewhere. A lot of us face fear a lot of us face things that we're not comfortable with. And most of the time we don't go forward Can you maybe talk us through that kind of like that mentor that emotional process for you that allowed you to really go long distance and that be your kind of beginning investment journey of the beginning of your investment journey? Excuse me?

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13:31

Absolutely. There are really a couple of things that come to mind one is being really honest with yourself and understanding what is your why what is what is driving you if that why is strong enough it will pull you up during Great times. And sorry pull you up during bad times and push you further along during good times. Also the for me how I define success in various ways but one way I define success is living a life of no regrets so I didn't want to be 65 years old possibly looking to retire go through another market crash and think wow, I saw this twice. I took no action. I regret not not having taken action so I figured the worst that would happen is oh by the swan sync small single family home it will be the worst will be that's maybe a disaster or and then I move on to something else. But at a minimum I owe it to myself to give it a try and do what I can of course, thoughtfully taking risk. Not just going blind into the process, but taking the very first step to overcome that that fear and getting overtime more comfortable of being uncomfortable because that's where growth has happens. So I was taking all those clues that were around learning those lessons. But also, having that mindset of living a life of no regrets is what pushed me to make that that first step.

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Billy Keels  15:16

And so one of the things that were a couple of things right is one being very clear on your why. And I know a lot of when we say that, but when you really aren't clear on it, it is, as you said, it helps to pull you up in those moments that are most challenging, and it really pushes you forward whenever you want, whenever you need it. But then there's that second part, which is, is living a life with no regrets, because the worst thing that can happen is like you said, you kind of lose your money, you go through some frustration, but you probably would have learned. And so for those of you that continue to think about it, and you're looking for the perfect deal, and you're looking for absolutely every single thing to check every single box, well ask yourself the question, if you don't take any action, will you still be happy with where you are 2345 years from now? Right. And so I commend you for sharing that with us also to help those of us, as you mentioned before, to be able to really understand what are some of the things that we can get through from the mental perspective to be able to move forward? I want to pivot a little bit, because you've got this like amazing ability to kind of capture not only the the, the mental, the emotional side of things, but also you're pretty darn good at underwriting stuff. And I kind of want to I'm really curious to understand, right? Because today I talked about even the very beginning, you've been in the financial services industry for a number of years, help us understand how your experience of just the technical experience, as well as leading teams and organisations of people in that financial services sector, how are those skills transferable and Helping you help others today.

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16:53

And you hit on two very important points, working with people leading people, that's one at the end of the day, real estate is of people's business, and especially multifamily, where deals are larger and more complex involve a lot of not only a lot of work, but variety require a variety of skill sets. So being able to form teams work with teams is extremely important. So So that's point one, and point two on there, understanding the numbers and staying close to the fundamentals. When it comes to the people factor, I tend to be a little bit more slow, I take my time to get to know people, because it's especially in multifamily, or getting into multi year deals very often. So these are multi year marriages. And in some cases, if you're joint venturing, those could be forever by and holds. So you really want to make sure that you are aligned in terms of values and goals with the people you you enter into those relationships with how do you find these people, it's connecting in the right environment, masterminds networking events, really surrounding yourselves with positive like minded individuals who have similar goals and values. So I think, from that perspective, that's where my corporate experience of building teams forming teams, and frankly, helping people grow helping develop talent was, was essential. The second piece, just as important is getting comfortable with getting uncomfortable. And in other words, taking risk, right, the only way to avoid risk is not to take one, but then you will be in a very safe place that might not be as exciting. So it's taking calculated risk. And a lot of that comes to comes down to understanding the fundamentals of market and understanding the fundamentals of the deal. And keeping a cool head especially during times of super excitement or turbulent times. So you can stick to the fundamentals and your own investment criteria. Because everyone has different goals. Everyone has different investment criteria, staying true to your investment criteria when you evaluate deals, and we can dive into both deal and market criteria as well if you'd like

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Billy Keels  19:33

it well, you know, that was one of the things and so we I tend to call them and just just because it's me I tend to talk about the location that people are in in the opportunities that arise right and that's just because I've worked at a very big company for like a really long time and that's what we call everything right and so but anyway, so but I would love for you to do exactly that because I would what I would really like is for the go along family to get an understanding just the importance of underwriting right and how that plays a role in helping both on the emotional side, as well as under the understanding the fundamentals and the numbers, and what that can look like. So you can take either path that you that you prefer, whether it be done on the opportunity, or it'd be around the location. But help us understand just to give us some insight into what that looks like from an underwriting perspective, and why that's so important when it comes to decision making.

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20:25

So usually when I evaluate deals, and what I recommend to others is start with the big picture in mind. And that's the market, because that's the tailwind that will help you during a tough times. And you can do a lot of things to a property that you cannot lift and shift it from one location to another from a macro picture, looking at fundamentals, like population growth, job growth, quality of jobs. And those are some of the factors that I look at when I evaluate the market. But the sub market is just as important because even within a city of Memphis, for example, there are very, a lot of different micro pockets, and in some cases, it can be very street by street specific in one corner may be a great location and the other well, maybe not so exciting. And why does that matter? Well, because it influences how your property might perform in the long run in the long run based on the median household income, which effectively puts a ceiling right on how much rent you can charge. If it's a very crime heavy area, it's probably not going to be there desirable for tenants or even finding property managers to manage your property or even helping with appreciation down the road. So the micro factors like the submarket median household income, the crime rate, crime rate poverty rate are just as important. Once I do that preliminary sniff that's when I dive into the numbers. In specific specifically, I will call out five different points that I look at. One is the top line, which is the rent growth and rent growth assumptions. And again, that's very market specific, which is why knowing your market is very important. Your vacancy assumptions are part of analysing that top line and making sure they're in line with historical trends versus basing them off all the unusual trends that we saw over the past couple of years. Then I look at the expense factor. And your three largest expenses are your property taxes, insurance and labour, and that Labour includes the property management fee. Again, those could vary significantly from market to market. So in Florida, where I live, which is one of the places I currently invest in insurance is a pretty hot topic right now. And those numbers can make or break your deal. Beyond that cap rate, the entry cap rate and the exit cap rate.

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Billy Keels  23:10

I'm gonna ask you, sorry, I'm gonna stop you just on this one thing, just because when you talk about the top line, so we're talking about the revenue when you're talking about the the expenses and three major expenses, the taxes, insurance and labour, kind of we're getting there. Just for those people who are listening for the first time, and they're not really understanding when you say cap rate. So what is that capitalization rate and you talk and I love where you're going with this already, right? Because it's the entry and the exit capitalization rate. But if you can maybe just go a little bit one level below just to help people understand what that exactly is, that will be great.

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23:42

I'll try to simplify it, although it could get very technical, but think of it as your rate of return. If you were to buy this property without putting any debt on it. That's probably a little bit way too simplistic. And I know some some of the technical folks out there may get a little bit upset with me right now. But this is probably the easiest way to put it in, in more simple terms for folks to understand.

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Billy Keels  24:12

Yep. And if and by the way, if you're not understanding what paying all in cash in and kind of getting what that return would be. And it is a very great way to simplify things. I think we're gonna give people an opportunity to even figure out how they can get in touch with you and you could probably take them a little bit more into detail. Trusting that you enjoyed 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 Ford slash going long and see how we can help you today. Let's get back to the conversation. Back to one of the things that you were talking about, so the cap rate and the entry and exit. I'm

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24:48

happy to do that. Yes. Why why is the cap rate important because it has effectively a multiplier effect on the valuation of the property and in especially in The commercial space how properties are valued are based on the cash flow, they produce, in this case, the net operating income, which is the difference between your revenue and expenses divided by the cap rate. And so those assumptions that you have up front can make a huge impact on the rate of return that you're presenting. And in the current environment, where rates have been rising very rapidly, we are starting to see some cap rate reversion and naturally over time, that could, and probably will impact the valuations of property. So being being conservative in those assumptions is important. And it's always good to bake in some cushion and assume cap rates will increase, which effectively decreases the value of the property if that doesn't happen. And if market conditions are great, even better, but you want to plan for that dump potential downside as well, when you're forecasting the cash flows. So that's number three. Number four is your debt terms. Your lender is your largest partner, and depending on the market environment, contributing anywhere from 50 to 75%, of the capital required to take that deal down. So those debt terms matter. What is the interest rate? Is there an interest only period? Are there prepayment penalties baked in? How How is that loan going to destructure. So it can properly include that in your valuation. And last but not least, reserves, making sure you have adequate operating reserves and adequate could mean a lot of different things to different people in for me, I usually like to have at least six months of operating expenses and debt service carved out up front and making sure you have adequate capex reserves for any property improvements that you're planning to take on. So revenues expenses, cap rate reserves, and the lending terms are the things I would focus on as I evaluate deals.

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Billy Keels  27:16

Okay, fantastic. I appreciate you breaking those kind of down into five simple terms, thank you for going a little bit, even a level, a level deeper for the cap rate. And like I said, everybody, don't worry, you're gonna get an opportunity to get in touch with Bessie, pretty soon, if you want to figure out more to talk about and all that kind of stuff, she can probably go very, very, very not probably, she is able to go very, very deep on these topics. So I appreciate you taking a little bit of time to to highlight them. So I guess the one thing that I would kind of just ask you, before we get into the going long final three, because we kind of got to get ready to get into the going long. Final three is tell us a little bit more that DBA Capital Group, kind of how are you? How are you helping others today? Because I know you mentioned in the very beginning, as though as you continue to go out and do things and look for opportunities yourself, you're also very interested in being able to give back and to contribute and to help others. Talk us a little bit about about how you do that today with the VA Capital Group.

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28:14

Absolutely, I think one of the regrets I have is not starting sooner or not not knowing about the sooner and yes, a lot of it is a function of being in the right environment. But one thing I would like to do is being able to educate people about the power of real estate and how it can improve their lives in a very meaningful way, and help them find their own freedom. So being able to educate others by producing educational content, explaining to them in a more simple way complex concepts, so they can then use that power and knowledge, hopefully take action and create that additional income stream that will allow them to achieve that personal freedom of time or however they define freedom. And one way of course to do that is to partner with passive investors who don't necessarily want to get involved in the weeds of finding a market, selecting a market finding a property, evaluating the deal. Finding a team vetting, the sponsorship team basically don't want to do a lot of that work. That's very possible for others to do and get involved in a more passive manner while while still enjoying the benefits of real estate.

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Billy Keels  29:33

Well, fantastic. Well, I appreciate you telling us a little bit more about that. And really, really strong focus on being able to help to educate and answer questions in form. And then you know, as you talked about before really spinning, investing a lot of your time upfront and building relationships. So appreciate that. And so here's the thing, Bessie like we kind of have to get into the going on final three and since you're our special guest today, I never started going along finals unless you tell me that you're ready for me to ask you the question. So my question to you is, are you ready?

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30:05

I'm ready. You're done. Ready?

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Billy Keels  30:06

Yes. Let's do it. Let's do it. Let's do it. Okay, cool. So even though you're like, like, because I'm originally from over on that side of the pond, and you're originally from like this side of the pond. So this should be really easy for you, right? Because we started with you over in LA. But this guy from Columbus, Ohio wants to bring you and everybody back to this side of the pond, by you sharing with us, please, what is your favourite European city that you've either visited, or still on your bucket list to visit?

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30:35

Actually, I will say Barcelona is one of them. I know, that's where you currently reside. But I have very special memories. My mom and I took a trip there in 2014. And there are a lot of things that I loved about the city, but one memory stands out. And I'll never forget, as we were wandering around the city, street, and we were in the old part of town, we came across a group of people who were singing Oprah arias. This was just a group of friends and people who were together. And it was, it was so beautiful, just to listen to it, but also to be in that environment, as well. So I'll never forget that. All right,

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Billy Keels  31:19

awesome. So a visit to Barcelona, let me know when you're heading back this way. So I'll be here. So let me know, let me know. So I appreciate you sharing that. So another vote for Barcelona. In the next question is, well, this is just one of these things that hopefully, you've seen this before. Because, like one of the things and you talked about networking and being with people that are successful and, and one of the things that I really noticed about successful people that and I consider you someone who's to be you are very successful, right, and helping people and all over the globe. Is that like, normally, the thing that people that are really successful do differently than most is that every single time that they have, like a plan, they put this plan together, and they execute it perfectly the first time and then after that they go Why are you laughing? You're kind of laughing at me. You're laughing at me because of course successful people don't get things right the first time for goodness, if you guys should see Bessie smile. It's like super, it's really, Billy. But anyway. So yes, that's the I like to have fun, I got to have a little bit of fun here. This is this is my show, you know, of course, really successful people don't get things right the first time and every time, they usually get things wrong, like 20 to 50 times more than everybody else, because they're always trying new stuff. And so you are no different. And so what I would love for you to do is I don't want you to think about like all the stuff that you've tried, and the different multiple mistakes or learning opportunities, or however what you want to call them, like what you wanted to happen didn't happen. I don't want you to think about that. What I really want you to think about is the most important part, because this is the one thing that every single person who's successful does differently than everybody else. Every single time that there is a mistake of failure of learning. Afterwards, they learn from that mistake and they put different strategies, tactics and actions in place so that the minimises the probability of that exact same happening, that same thing happening again. So, could you please share with us, me and the entire go along family? What is that one lesson that you know, we need to learn or know today so that we can minimise the probability of something major catastrophic happening?

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33:26

So if it's okay, I'll mention two things. One is

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Billy Keels  33:30

more. You're an overachiever. Go ahead. Yes, go ahead.

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33:34

Thank you. What is more specific to property diligence, and, again, it's building off of the mistakes and or what I call them learning opportunities over time, as walk every unit of the property that you are looking to buy. Fortunately for me, I had that learning experience when I was still evaluating properties in the residential space like small Maltais duplexes, and there were just a lot of surprises that came up because I didn't work one unit. Thankfully, I was able to pull out of the deal on time, and I ultimately things worked out. But that was a lesson learned, especially now that I'm in the multifamily space too. Don't take the sellers word, just walk every unit. And a lot of times people talk about the other great stories, like you said, and it's important to know that but it's also important to know about the failures and those difficult moments will come which is where your y comes in, to pull you up. But important to remember to be present. You have to show up every single day, good or bad. You have to show up, be present and keep moving forward. Because that's how beautiful things are created.

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Billy Keels  34:59

Absolutely. really fantastic, be there show up every day. And yeah, and eventually continue to do the work. And the positive things will begin to happen if they're not already happening. And if they're already happening, they're just going to accelerate and be even more. So really, really appreciate you sharing that with us and sharing the lessons. And this is the last question, because this is also also about helping us to feed our minds. Will you share with us what is the one book, any kind of book that you think we need to know that you want to have as a recommendation? What's the one book you would recommend to the go along family today?

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35:34

We talked a lot about mindset. So the one I would like to mention is thinking Grow Rich. This is one of the first books that I read that eventually got me into real estate. And contrary to what the title suggests, it's not just about physical riches, but living a rich life, being in control of your mindset, and the power of minds, words and energy. It's one I'd like to reread often and one book I would highly recommend.

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Billy Keels  36:04

Fantastic. So thinking Grow Rich, so don't worry, everyone, we're gonna include that in the show notes. All you have to do is click the link and you can find it so and yes, it does definitely go beyond our physical wealth. It is about the way that we think the way that we act the way that we perceive a in live and grow and enrich, enrich capacity. Blessing, time flies by like, supervised by, like, I cannot even believe the conversation is already over. Like I feel like we just kind of started it a little bit ago. And you were talking about growing up behind the Iron Curtain and being able to be exposed to things such as well, real property. And you know, what, even at the time, weren't really thinking about cash flow is just kind of a thing that people did, and you passed it down from generation to generation. But along the way, you also decided, well, hey, you know what, this is kind of where I started. But this is like where I'm getting ready to depart from? I think you said you had two to two suitcases packed up eventually and decided, hey, listen, I'm gonna go into the to the other side of the pond and check out this thing called the US. I think it's been 20 years, almost, yeah, almost 20 years that you've been there. So that's kind of cool. And along the way, you took a lot of the lessons that you learned or been exposed to early on, and started realising Okay, well, yeah, you can actually code on the assets. But you know what they can also create cashflow. And from that cash flow, you can also create the lifestyle that you'd like to be able to live that you want to be able to grow into. And not only are you doing that, and you found that you could do that yourself, you understood not just the mental fortitude that it takes to go from living in one place California investing in another place, not in your backyard. But you also have a very strong fundamental understanding of the technical analysis, also known as underwriting, which you've noticed in your five step process. And beyond that, have a deep desire to continue to help others and providing others with opportunities. And so I know that you've got all this really cool stuff and everybody here in the going along podcasts are like really just asked her the question, dude, just ask you the question. So I'm going to ask the question for everybody. Because we all want to know, Bessie, what is the best way for the going long family to get in touch with you to find out more about what it is that you're doing a DBA Capital Group, and all that cool stuff. Tell us about it? How can we get in touch with you?

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38:23

The easiest ways to connect with me through my website DBA. Capital group.com D is in dream biz and believe a is in achieve my contact information, phone email, is there a link to my calendar, if people would like to schedule a call? I have a tonne of free educational content there, including my very first digital book that I just released, the visit professionals quick guide to investing in multifamily, really designed to educate and empower investors.

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Billy Keels  38:58

Absolutely fantastic. And once again, everybody don't worry, there's going to just be a link. So if you're driving in the car, don't try to write if you're running on the treadmill, don't worry, we're going to make it really simple. We'll get it we'll have a link. And we'll get you over to DBA capital group.com. And you can find out more about what Bessie is doing. So Bessie listen on behalf of the entire go along family I just want to say thank you very much from the bottom of my heart for you deciding to invest your time and share your energy your expertise with me in the entire go along family. Thank you so very much.

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39:29

Thank you so much, Billy, I really enjoyed the conversation. Thank you for having me.

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Billy Keels  39:33

All right, fantastic investment. Can you give me like literally 15 seconds just to wrap things up? And then I'll let you get out of here. So listen, everyone go along family. Bessie, what an awesome story she just shared with you. She gave you a clear five step process to understanding more about the underwriting process. She's also helped you to understand about how you can get out of your own mental space to get to the goals that you really want to get to so you live a life without regret. How awesome is that? So don't forget, share today's conversation with your family with your friends, sit down and talk about the things that Betsey talked to you about today. So that you go from theory to from you go from the theory to actual practical knowledge and heck, pick her up on her offer, reach out to her talk to her. And while you're doing that, I'll be back here preparing for the very next conversation. So until then go out and make it a great day. And thank you very much. 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 firstgencp.com forward slash going wrong

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