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 long.

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00:12

You know, we go through another COVID Again, and you have some rent that's been paid, but your restaurants closed down, you know what I mean? Or it's diminished, you know your income from that. You have different ways of how you're going to float yourself and float your family. If you're independent like that. You're entrepreneurs.

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00:29

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  00:38

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 fantastic conversation with one of our amazing guests. And before we get into that, just want to say thanks so much for continuing to leave your honest written reviews as well as ratings and sharing across social media, specifically, LinkedIn, and Instagram. And so really, really appreciate that continue to tag us. And if you're still thinking about leaving that honest, written review, go ahead and do it. And for those of you who want to check out any of the more than 300 episodes of this top 1.5% rated podcasts globally, go do that, check it out at first uncp.com forward slash podcast, transcripts, show notes, audio video, you can find it all over there. So yeah, so check it out. First ncp.com, forward slash podcasts. And as for today's conversation, like, if you really want to understand how the global perspective can help to supercharge your long distance, investing success, like this is going to be a conversation you're gonna get a lot out of because today's guest not only saw real estate, by watching his father do it. He also was building businesses and then taking those early lessons to be able to help others today. So I'm really excited for you to listen to today's conversation with Charles Carrillo. And we're gonna get to that just after this. So if you want to understand how having a global perspective can positively impact your long distance investing strategy, then guess what today's the conversation you're going to want to listen to. And when I say this until the very last word, I really mean it until the very last word, you know why? Because today's guest not only co founded his own payments company, and when he did that he was focused on the fine and financial consulting for both domestic and international companies, which is always music to our ears. He's also an active investor in a number of different assets. I'm not going to steal his thunder, I'm going to let him tell you that he is super, super strong in understanding the passive investor and understanding how to be able to bring the most value. He also is the host of the Global Investors podcast, and he is the founder and Managing Partner of Harborside. Partners. It gives me great pleasure to welcome to today's conversation. Mr. Charles Carrillo Charles, welcome the show, man.

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02:52

Thanks so much for having me on, Billy, it's great to be here.

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Billy Keels  02:54

You know what, this is kind of like a long time in the in the coming right to finally like, I get a chance to hang out chat with you. You've been in my I think Instagram feed, LinkedIn feed all this kind of stuff for quite a while. And the fact that we're gonna get a chance to have the going long family learn more about you and how you're adding value is just, it's a real treat. So I'm glad that you decided to invest some time with us today. You know, Charles, here's the thing, like normally, you're gonna get five questions, you're gonna get two in the beginning, you're gonna get three in the end, and the entire global going long family knows about that. So I will kind of want to get started and just help us understand like, where is it that you call home in the US?

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03:33

So I'm based in North Palm Beach, Florida, which is about it's 60 Miles 100 kilometres north of Miami, so people know kind of where it is there. I love

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Billy Keels  03:41

that he already went straight to the like the translation of kilometres miles, man, you're right on it. Boom. Love it, and keep it on that TrackMan positivity. I love positivity. And it's one of the things I really appreciate every time a guest will share. Help us understand Charles, what's the most positive thing that's happened to or for you in the last 24 hours?

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04:01

made? I made dinner for my wife last night? Oh,

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Billy Keels  04:04

fantastic. Now, are we allowed to ask what? Well, I guess I am because I'm sure I mean, you know what it's like so what did you make last night I made it.

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04:14

I made homemade pesto from basil that I grow my backyard. And I do it by hand in the mortar. It's a whole process. If anyone wants the recipe just reach out to me and social. I'll give it

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Billy Keels  04:22

to you. They go. Fantastic. And you find them over at IG for sure. So and he'll tell you more about how you can find out about the things that he's doing. So, Charles, Listen, man, I want the entire goal long family get a chance to know you. But I also have to make a confession. Like I'm a recovering perfectionist. And I try to do things that sometimes are impossible to do, like tell your entire backstory in a 2.5 second introduction never was going to happen. So what I would love for you to do is share your backstory, in your own words, Charles, and one of the things I would ask you is that if you can also share with us what are 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.

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05:03

Yeah, so that's great. So I grew up in a, I'm originally from outside of New York City, a couple hour drive outside New York City and Connecticut. And I grew up in the family. My dad was a real estate investor, started in 1984, with apartment buildings. And so I grew up in the business and my dad self managed the properties himself, he had a whole bunch of them, he was full time in it with one partner for many years, and they weren't the best property. So it wasn't something when I was going through elementary, middle school, high school, I'd really want to do. But I think there's a turning point somewhere during the end of high school into college that I really learned, when you look back on and you kind of see all the pros of investing real estate and what it can do and how powerful of a wealth builder it is, when I got out of college, I bought a three family and now they call it house hacking. This is 2006, we just kind of like didn't really call that we just said, We're gonna live in one and rent out the other two and see if we can, you know, kind of cut down on the mortgage. But I did that and I rent out the other two floors to college friends, because about a mile and a half from the college I just graduated from in Connecticut and and then a couple years later, I did another one about a block away. Another three family this was at the end of oh eight, and which is very turbulent time and in real estate all over the world, not just in United States. And then I kind of went from there, I bought another property in oh nine. And it was just, you know, and I self manage all the property. And I think I had like a dozen units in these properties. And they're all close to each other. So it was easy to sell them and I self managed him for six years. And then moving down to Florida in 2012. And we started focusing on larger properties. And then since Really 2017 2018 We've been involved in syndications primarily. And since then sold all of my smaller apartment complexes that we've just spoken about in like a portfolio deal to a investor out in New York City. And, you know, really been focusing on larger deals, bringing investors and being in Florida since 2012, really focusing on the whole Southeast, you know, we really everything really what we call here in the Sunbelt. But it's a lot of Florida, it's Georgia. And you've Texas, the other main markets that people really like, because of the growth and because of landlord friendliness, which we didn't really have in the Northeast.

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Billy Keels  07:18

I used to own properties in the Northeast, and I don't anymore. So you know, there's a number of things that you you just shared. And there's, like, I'm always, I'm always really, really interested because I grew up in a household where nobody was really doing like investing. And so you mentioned that you watched your father, as a landlord, who was self managing. And I'm just curious, like, kind of what was if you can think about, cuz you said in when you're in high school, middle school, whatever, it wasn't really that interesting. But in college, you found yourself doing the same kind of thing. What were dinner conversations like for you when you were younger? Especially talking to your dad about what it was that he was doing self managing the smaller properties, maybe give us some insight into the mindset.

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08:06

Yeah, so just to Yeah, so my dad self managed, but he had a small little team, I should have put in there that he did, because at one point, his partner had about 100 units. And some of them were like six units right next to like six units, six units and a 12 unit. And some are mixed used. When I say mixed use, we call that you know, you're in a city centre anywhere in the United in the world, and you have retail or office in the first floor. And then on the additional floors, you're gonna have residential or other office, but mainly residential. And those are the properties that he really focused on. And, you know, he would have people that really helped him collect rent and all this kind of stuff, but there's many times that we went apartment apartment to collect rent. And, you know, I would run receipts up and down the stairs, and I got the job of counting all of his rental money at the end of the month at the end of the month, and got $1 for doing that. And it was just like you just learned about dealing with people dealing with contractors. Now these were, these were like dc minus properties. So these were not your there was no pools, there's no dog parks, let's just say. So it's it's a difficult demographic to make money with. And you have to really know how to, in lack of a better word, control expenses to make money in that demographic. And it's a it's a difficult property to sell as well, because you're selling to it sounds liquid because there's not as many buyers that want to get involved with those properties unless you find you know, new but new buyers, new investors that don't know any better you sell to them, but it was back in the 80s. So like, as my dad was saying it to me, it was like, you know, you could just he we'd go to Lake, he'd go out to Lake friendlies. There's one of these kind of like restaurants or something where these old time, landlords would hang out and they just like sign properties over each other. There wasn't like back in the day. There wasn't like due on sale clauses and all this stuff. So he picked up some of them just by getting signed over to him. And it was a whole different realm of real estate investing that's completely different today and I'm But it was you learn a lot about the business. And I would always ask him, I read my first real estate book was, like when I was in seventh grade or something was Trump art of the deal. And my dad had him on a shelf in his office. And I would ask him these questions. I was like, Why have management? Why do you do this? My dad's like, how they take too much money, that's, you know, II get the whole thing of what it wasn't it made perfect sense. But it's much easier to hire management and better properties you get when you're dealing with lower class properties, older properties with tougher demographic of tenant base, then you really, it's really difficult to hire for it. So that was another reason I think so. But it's, uh, you know, you see all the pros of it, like, you know, the residual income, you're never missing. My dad never missed any of my sports games, anything like this, that I want to know extracurricular activities, weekends, or during the weekday, like, it doesn't matter what it was, and my dad could be there, you know what I mean? So, you didn't see that from your other family and I grew up in a small town in Connecticut, so was an upper middle class, let's say area, and everybody else, you know, it was it was much different, you know, people that had professional jobs, wearing suits and stuff to the office, they weren't always there, you know, I mean, they'd be showing up at the end of the game, and my dad would be there, like at the beginning of the end meeting, kind of a thing. So you just like, see small stuff, like then you don't put two and two together. When you're in middle school. It's like the last thing some guy in middle school is thinking about. But it's, it's, it's a different thing when you are when you start figuring out what to do with your life. And you have that entrepreneur bug, which I had from for many for my whole life. And so I was like, you know, it's, it was something that I knew I want to do.

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Billy Keels  11:35

So it's interesting, right? You knew you wanted to do that you saw The Good, the Bad, and The Ugly, you participated. And as a result of being participated, you were paid financially, very little, right, as you mentioned before, but but hey, listen, $1 dollar. At the same time, you were receiving massive amounts of experience, that I'm sure are impacting ways that you're making decisions today. Right. But before we even go there, and kind of juxtapose that, I do want to make a stop, because you said you've been like someone who's a you want to build businesses, and you've done that your whole time. Like one of the things that talked about is you also co founded a payments company, like to talk to us about that, and what that experience was like for you. And also, maybe some of the lessons that you learned through that, that are also helping you help others today.

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12:24

Yeah, so like, I've never had a regular w two, my last job was in high school, but I got w two from that I didn't sign or was part of. And the thing is that, so it always be doing like little like side hustles online. This is like when the internet was really starting. I mean, I remember selling stuff on eBay and eBay didn't you take credit cards back, then my dad had to write a check to them to pay the fees like his back in like late 90s. And the thing was that when when I started my so my other side that my family is involved with insurance, and my dad was involved in real estate, and there's, you know, there's a huge correlation here, it's residual, you know what I mean? So when I was like, in college, I was, you know, I was like, you know, I wanna start something that's really residual based, where I'm getting something, and I found payment processing. And I was working with a company, and I set it up when I was in college, and my brother came on a few years later, and he really runs that company, or just kind of manages, I would say, right now we have a couple of people that work for us full time. But he really manages the majority of that now, but the main thing, there was those residual, and you had a lot that you can just like, you know, it's like getting money while you're on the beach, that type of residual, but it's Monday comes around, and you're not like, I gotta I gotta sell X, or I gotta do this, you know, you're you're always selling, you're always putting new clients in there. And you're always matching the ones that are there. But then when you look back and you're like, you get a, you get a residual statement, you get a wire, whatever it is, for commissions that you've done, and you look back on, you're like, Oh, I set this person up in like, five, six years ago, but I'm still getting paid on it, like the power of that. And it's the same thing with real estate. But it was one thing that that company allowed me to invest a lot into real estate, and I didn't, you know, invested a lot of money that I made in that. And it really shows you that, you know, once you're getting the money into real estate, I always found that as a real safe harbour, because you know, you can get accounts, you can lose accounts, you make a lot of money this month, next month, it might not be you know, there's a lot of what they call it the peaks and valleys type things that you get when you're in these type of businesses. But when he put into real estate, that was a very concrete, very concrete investment that was not correlated to your business, if you could see if we can say it like that. So, you know, and I love telling professionals now that are in something that's self employed. And I'm like, hey, you know, it's whatever you do, you don't have to invest for us or anything else. But real estate, if it's done correctly, it's going to be something that's going to be able to in the background, give you additional income and give you a buffer if you have months, right and you don't you know what I mean? Monster times where you're where you're not making as much as you were, you know what I mean? And the months that are good and you put more money into it. And, and then you just kind of keep that going. Because it's, you can even everybody knows people have made a lot of money in real estate, even just buying like a second house or their own house, you don't I mean, it's just it's something that over time, it's a, you know, it's it's not really timing the market like everything else, it's like your time in, you know, I mean,

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Billy Keels  15:17

ya know, and that makes a lot of sense. And it's, you know, it's really interesting that when you have a desire to build, right, you're you're building you start to see that you can create, and every business model is different. But what's really important, and I want to go along family to hear what you said is, you saw that correlation of providing a service to be able to also generate residual or ongoing type of type of income. And so depending on, you know, what your level of education is, the teams that you're working for, you're able to have that stream of income, be able to help you get what it is that you really want. And I always like to say, it's not the money for money's sake, it's the money that so that when you're thinking about Charles, you recognise today that your dad was one of the few dads that was at the baseball game or whatever sport you were playing from the very beginning, right? It's, it's being able to share those experiences or provide those types of experiences. And we're always drawing on the experiences that we had from from before. So appreciate you going into that. And also to I mean, just given the the active experience you have, as well as the passive experience, you started talking a little bit earlier about business owners, and they can have another stream of income. Talk to us about what you've seen or experienced, in terms of the some of the positives, and maybe the the pros and cons of being an active versus passive investor, because some people are maybe listening for the very first time they're like, oh, okay, you mean, I could actually do this with somebody else? Talk to me about that. Yeah. So

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16:48

this is something I think everybody, I think everybody, if you anywhere that you talk to that is educated and investing and all wants to be wants to be invested real estate, okay, it's just what I think the majority of people want to do every time I talk to people. And the thing that always holds them back is the management is where you have people that sell it, as you know, the call at, you know, 3am for the toilet and stuff like that, which which I've gotten before. But the thing though, is that it is a, it's really, if you have a business, or you have a profession that you're working at, and I saw us a lot when I talked to like old school real estate investors, and I'm old school run through like Mom and Pop real estate investors that maybe bought 40 or 50 units, they're probably all paid off at this time. And we're talking to someone they would own, like, you know, like little bars or little restaurants and like I hate the bar at the restaurant, you know that I've started this, but I was able to buy like 50 units real estate with it. And, you know, that's like they're setting it up as their like, that's their legacy of that is their retirement, you know what I mean? They're very low risk kind of people. So they're paying down their debt, I feel you have a lot of mom and pop investors like that. And 80 was something that they're doing something they're investing in somewhere, that's going to that's new work, and that correlated. So if you know, we go through another COVID, again, and you have some rent that's being paid, but your restaurants closed down, you know what I mean? Or it's diminished, you know, your income from then you have different ways of how you're going to float yourself and float your family if you're, you know, if you're independent like that you're entrepreneur. So that's why the thing is, I always talk to people about that and kind of tell them you know, it's just have something going on in the background. But you can do it passively through having with syndications, which is something that we focus on. And that is something where investors can come along alongside us and our deals that we're doing. And, and then what we'll do is they receive a distribution, whether it's monthly or quarterly, and then they'll receive the majority of their upside price 60% of the profits they make on it when we sell that property. Or if we refinance it down the road, they'll give a chunk of their money back as well. And that's usually like a five year period. But the thing that was on there putting it somewhere where they don't have to worry about any kind of management, they don't have to worry about making sure that their numbers are correct if they're buying the right property. Because as I found out, and I mean, I imagined, you know, when you speak to real estate investors, it's this normal progression of what's kind of like what my dad is like not so great properties. And then he started buying better properties as he became more experienced and seasoned over many decades of investing in properties and properties he owns today are much nicer than they were five decades ago. So the thing though, is that with all this being said, it's something that you just if you don't know what you're doing the passive investing or if you're in a higher paid job, I mean, you don't want to be dealing with getting calls from people's and then trying to find people today. In today's age, it's very difficult. It's always been very difficult to find good people that actually show up, that are going to be a reasonable price to do work. And I mean, you don't wanna be wasting your time doing that. So that's where the, the whole thing of passive investing and syndications really assist anybody that's successful. Anybody that has money that wants to be diversified from your typical, let's say, stock market ponds.

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Billy Keels  20:04

So it's so we're looking at it towards the MSX. Really, really great pivot, because of the next question, you're talking about the diversification versus bonds and things like that. But also recognising that, you know, there are pros and cons to both to active investing to passive investing. One of the things that I've also also found is that, especially for high wage earners, when your weight is very high, if you are making, I don't know, X percent X X dollars an hour, X euros an hour, if you find yourself doing a job that pays point 5% of what you would normally earn on an hourly wage, then you've just lost 95% of your productivity because you're chasing the way to fix the toilet, right. And I've been there too, by the way jobs. So we've all kind of gone through that. But you picked up on one of the things or for those of us who are further along in our journey, right, some people are just getting started and learning and you're helping them to get clarity on that. But talk to us about you were talking about diversification. And there's always a question that I haven't and specifically this is around investing, what are your thoughts on specification or focus on a very specific type of investing versus just diversification across a number of different types of investment vehicles?

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21:19

That's a great question. I, you know, how I think of it is so brilliant, like I'm a, I'm a big passive investor, myself, and all types of all types of asset classes, I invest a lot passively, and I invest more and do more deals passively as a passive investor than I do as an active investor. And we probably do four deals a year as active investors. And the thing is that it's something that I, like people bring stuff to me, and I want to invest into it. So I have a good friend of mine that lives near me that is raising money for a short term rental fund. And I was like, I can't, you know, I just like, I don't know anything about it, I've never done it, like, I just don't know enough about it, I want to learn more about it. But it's just not something that you know, I'm comfortable in doing. Whereas if someone brought me a multifamily complex, and like, you know, outside of Dallas, and I know exactly, and I've got, you know, I'm pulling crime reports and all this kind of stuff. And I've got that thing narrowed down in 15 minutes, and like, you were which way I'm leaning on it, that's something that you really know what you're doing. But you can go into different classes, it's just something that you want to make sure the person that's running that you don't want to be the active person behind them. So it's like I you know, I passively invested into triple net lease properties, like properties that have one tenant for like long leases, like, they'd have like a Walgreens, they're like, got buildings got 25 year lease, I don't know much about it. So I'm not going to go and put investor money in it and try to find these deals and try to underwrite it myself, it doesn't make sense. But I would put my money with an active person that's been doing it for 15 plus years, right? That knows what they're doing. And so having, you can have diversification, but you really have to know where you're spending, spending your time. And what you're focusing on for our firm we do is, we I mean, my I really like in what we've done over the years is really focusing on B minus B class real estate, built 1980s After, into areas that are growing throughout the southeast with like, pretty there's, there's like seven markets we really like. And we have four different operating partners we work with in those markets that specialise in only one or two of them, sometimes only one of them. So we haven't really narrowed down of what we're going after. And that's for us being active. When we get into passive that's when we can start bringing other asset classes that I don't know anything about, you know, I mean, that's where you're like, I would put money into that short term rental, if I did understand it, or whatever you do it passively with someone that would understand that and that you trust them to know what they're doing. You know what I mean? Yeah, so yeah, go ahead. Sorry, keep going, Oh, gone, gone. Gone.

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Billy Keels  23:41

No, I'm just gonna say I mean, it comes down to being able to, you know, there's kind of two different lenses on it active versus passive. But at the end, under the underlying, I think, thing to think about for all of our investors, for our all of our going along family members, excuse me is it starts with the education and starts with feeling comfortable. And so whether you are you know, there is a focus on getting the education that you need, it's also focused on getting the experience and that means your experience or leveraging someone else's experience, so that you get to a point where you are comfortable. And then when you are comfortable, meaning that you're okay with accepting the risks that are associated with that particular investment, then it's more than likely time to move forward. And depending on how much control you have in either you or someone who's actively involved in this, or if you're looking to passively invest, it opens up a wider array, a wider array of possibilities for you to be able to invest. So that's that's how you're balancing both the focus as well as diversification in terms of activity as well as investing dollars or euros. Does that make sense? Yeah, yeah, no,

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24:47

it's perfect. It's exactly. Okay.

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Billy Keels  24:50

So so talk to us a little bit about you know, what you're doing Harborside partners. I know you also have this really big focus on investor relations and how you're helping others. Talk to us a little bit about that.

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25:06

So I, you know, as I mentioned before, you know, when I speak to people and we have a lot of people reach out that are a lot of professionals in all different types of walks of life, in different goals, you have some investors that come to you that might be looking for more appreciation, don't need the money, you have some other ones that want cashflow. And that's where they are on their stage in real life, it really depends. So with that being said, we've, when we work with investors, it's really getting to know exactly what their goals are, and what they're really looking for, and what they're really looking to get out of investing passively in real estate. And it's something that we kind of tell them exactly what our deals are, what we look for, what our criteria is. And then when we send out deals, it's really coaching them on this is kind of what we're looking at, these are the points that I really like about it. And this is what our team and our underwriters kind of have gone through and pinpointed as, where we have really focused and one of the pros of this, and what are potential drawbacks on it. I mean, that's that's one thing that we really focus on making everybody comfortable with that, and knowing exactly what these deals would look like. So we give them a lot of samples of what we've done previous deals, and they know exactly how that works. And really, like you said, it's educating people becoming more comfortable with investing in real estate investing through someone else, which is much different model than most people have. It's not like you're just going on to your broker's website, you know what I mean, in buying some stock or buying some mutual funds, you're going in, you're actually partnering and a limited partnership with a group of people that are experienced, and that are going to be handling a lot of the day to day, or putting a team in place to handle a lot day to day. While you know, you're really just providing capital after you do your due diligence. And, you know, in getting monthly reports.

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Billy Keels  26:56

Okay. And, you know, that is one of the things as you focus on serving others, and you focus on being able to, to educate, and I really appreciate the fact that you talked about also talking about the things that that are potential risks, right? There's one of these things that as part of the education process, it's making sure that you highlight, hey, every single investment has risks in life has risks every single day. And it's a matter of how familiar are you with those risks? Or how familiar is the team that is going to be managing this asset to provide a service and a return on time and capital for for investors, which makes a lot of sense. But something I do before we get to the goal long final three, because we kind of have to get to the going along final three, Charles, you also have a podcast now Global Investors podcast and that brings, you know, I just bring this like, really, really well in my ears. Talk to us a little bit about what the what the inspiration was for you to start the podcast and kind of I think the name says it all. But talk to us a little bit more about about your podcast. So

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28:00

when, in 2018, I started the podcast, and I was we had just done one, our first syndication, and my first investors that I worked with were international investors from Europe, that some work US residents, some weren't. And they, you know, I would go when I was, you know, I'd be over in Europe, but Jean stuff because we had like a lot of international clients for our payment processing. And he would go out to dinners and talk to you and they weren't business owners. And they you know, there was How about investing in you tell them about what you're doing in the US just this was like a side hustle for many years, right? And it was something they're like, Oh, how do I do that? And you're like, I don't know. I mean, I think you can do it. I mean, I hear other people do it. I don't know how but so it was something that when I put together the show, it was really, really focused on passive investing in us real estate. And we have a lot of active things. Now, obviously, you learn to you learn about passive investing, learn about active investing, it's all part of it, learning the whole industry. But it's also it's about with a focus on foreign investors investing to United States, which there's extra hurdles, as we were talking about the before the show belly, there's just extra hurdles that they have to go through. And when you're working with operators, it's something that you, you know, some operators aren't as fine tuned with knowing what to do. And so it's something that we really focus on working with them, you come to us, we'll give you a list of different professionals that you should work with to set up your plan here correctly in the United States. And we tell you how we take money, how that goes, how everything bank accounts, the whole nine yards, we can assist investors with and that's really what the whole show was focused about was just letting people in because years ago, it was it was like big institutional family offices, you know, I mean, and from different places in the United in the world that wants to come and invest the United States. And this allows that the show is for more of your individual investors that want to professional business owners that want to really get start getting because a lot of places outside the United States don't have as much cash flow and there's many markets like that in United States has, we have great financing. And we have properties that really cash flow when compared to other areas of the country of the world. So we really, you know, letting investors know about this and explaining how it goes and how it's eat and how it's easier than they might think, and how they can access it. That's kind of what the whole show is about.

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Billy Keels  30:19

Awesome. So I appreciate you giving us the heads up also the genesis of the show. And once again, it's about how can you help others solve solve an issue solve a problem? So listen, Charles man with that we've got to get to go along final three men. But as a guest, I never asked anybody to go along final three, unless you tell me that you're ready for me to ask you. So are you ready? I'm ready. All right, I figured you would be men. And since you have already travelled all over Europe, this first question of the Golem final three is gonna be super simple for you. Help us understand what is your favourite European city that you've either visited or still on your bucket list to visit?

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30:51

Um, I would say Venice, I've been there several times. And I just the history. And it's just, it's like no other city in the world. And just put that together with the history of it. It's a very unique place.

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Billy Keels  31:03

But it's Yeah, okay. Very cool. Yep, it is. It's a very cool place. And so we're gonna leave it. We're gonna leave it at that. And so, you know, man, you've been doing this for long enough. I'm just going to ask you the question. You know, when, whenever you whenever you're going through your building experience, the reality is that you're going to make a lot of mistakes. Some people will call them learning opportunities. Some people will call them seminars, but the fact of the matter is, you're paying full price for them. Because you're going through it, you're making the mistake. I don't want you to think about the mistake that was made. Charles across your, you know, vast experience. I'm not asking you if it was active or passive. But I really want you to think about what is one lesson that you learned through taking action and making a mistake or having a learning opportunity that you know that the going long family needs to learn today? What's that one bit of advice that you want to share with us at one lesson,

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31:53

buy better properties in better areas. Like the I'm not saying like you're going to, you know, Park Avenue and buying stuff, but you're just gonna be buying properties in areas that are a little better that are going to be up and coming. And it's gonna really help you being an investor.

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Billy Keels  32:10

All right, fantastic. Appreciate that. And lastly, what is one book that you would recommend to the Goldman family today?

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32:18

I would say the 8020 principle by Richard Koch, and I think that's like, I think it's a fantastic book. It it's not just for real estate, it's for personal life and everything. I mean, you can bring it to any kind of part of your life.

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Billy Keels  32:31

Fantastic, man, I think this is fantastic. The 8020 principle, we'll include that in the in the in the show notes as well. So if you're running on the treadmill, don't worry, if you're cooking dinner, all you're gonna need to do is click a link, we'll make it really, really simple for you. So I'm thinking to the beginning of this conversation, you're talking about 1984, not the book, but the year, and you're watching your dad, and you're thinking, Wow, your dad is doing this real estate thing. He's building a business. And more importantly, he's, you know, present, you recognise that the other dads weren't there. And you also recognise like, hey, looks in high school, college win, do a little bit pivot. After that you've got this entrepreneurial flair, you like to build stuff, you want things to get moving in? Well, back in 2006, you already house hacking, as they like to say, but you you know, you call it something different, but you're adding value, something that you saw at home, not just the great stuff, but you saw The Good, the bad, and the ugly, and it all came together. But then, you know, as you continue to build your portfolio, you get to a certain point, you say, You know what, this sounds good, but I'm continuing to build my education base. And I've done this I've self managed these, but there's this thing called syndication and, well, you know what, you decided to get started in that. And not only did you get started in that, Charles, you're also leveraged the previous experience that you had, from starting your own companies recognising that there are certain bits of value that you could extract so that you can be living your best life. And aside from leaving the northeast to move down to the to the southeast, you're now helping other people by educating them with your podcasts. You're also with your company at Harborside partners, but you know, everybody just sent you a billy just ask him the question for goodness sake. So I'm gonna ask you the question, man, what is the best way for the going long family to find out more about you and all the awesome stuff you've been doing? Seeing it a

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34:07

harbourside partners.com And there's the podcast links there we have a free guide on passive investing in real estate. There's tonnes of information on everything you might want to know about real estate investing real estate active or passively. All

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Billy Keels  34:21

right, fantastic. So everybody, check them out harbourside partners.com. And so yeah, man, listen, Charles, like I said, from the very beginning. It's a pleasure to finally get a chance to do this face to face have you share your knowledge or wisdom with the go along family and I just want to say thank you very much for deciding to invest your time with me in the GORLA family today. Thanks for having me on, Billy. All right. Cool. So if you give me like 15 seconds, and then I'll get you out of here. So go along family. I mean, what more can I say? Charles said it all. He shared his experience. He shared the good, the bad and the ugly of the things that he's learned about real estate also how he's helping others today. So listen, share today's conversation with someone else hammock conversation go from theory to practice and while you're doing that I'll be here preparing for the very next conversation so until then go out and make it a great day and thank you very much

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