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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00:11

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

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Billy Keels  00:22

Welcome to the Golang 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 guess who I am. Yep. I'm your host, Billy keels, and today, we're back for another solo episode. So these are quick, these are fast, these are exactly what you want. And so that is one of the reasons that you continue to leave us honest, written reviews. So thank you, for those of you who continue to do that, if you want some help. Got a short video to do that. And also, thanks so much. For those of you who continue to tag us across social media, it's really awesome, because you helped to continue to bring new family members to us for the podcast. So it's absolutely fantastic. And we continue to grow globally. So we really, really appreciate that. And just by the way, if you want to see or hear or read the transcript for any of the previous episodes, just go to first gen cpe.com forward slash podcast, and you can find every single one there. So today, here's the thing, I want to talk about something that comes up a lot. Because as we continue to evolve as investors and as you continue to evolve, and as an investor, you're continuing to see new things right. And, and I'll just kind of tell you what happened to me, right. And for those of you who don't know, usually when you hit or you come to a new asset type, there's this fear. And sometimes the fear can lead you to doing analysis, paralysis, and never ever taking action on anything. So what happened to me, right, when I very first got started, I think most of you know come from very humble background. I didn't even know what investing was I thought saving putting money in the bank keeping it there was actually investing. And so I then went from that to investing in a 401 k and then from there and to mutual funds and IRAs. But every single time, I got afraid I didn't know what to do. But in the beginning, I didn't really ask me any questions. Here's a hint, ask the questions that you need to ask first and foremost, right, but But what I want you to understand is that it's something that's absolutely normal. We all go through it every single time that we're looking at something new. It's, it's, it's something that we can get blocked on, you can get blocked on that analysis, paralysis can happen. And so there's this fear of moving into a new asset. But you know, yourself because inside your gut is telling you like this is not doing what I needed to do, I needed to go somewhere else, I my life is evolving. Your life is evolving, and you want to be able to experience new things you want to fly first class, you want to be able to take your family on that wonderful trip, you want to be able to create experiences. So how are you going to overcome this fear of moving from maybe today, you're only investing in stocks or mutual funds, and you're thinking about getting into you see real estate, or maybe you're already in real estate and you decide you're investing in multifamily, and you're doing that actively. And now you want to actually be able to do it passively, because you make more money during your day job, which is getting you closer to the lifestyle that you want to leave. So you want to invest passively. Or maybe you did like me, I was investing in real assets. And they were all primarily real estate. But then I started moving in because I had different problems. I was paying way too much money to Uncle Sam, I got tired of that. So I started looking, asking different questions, and looking for new solutions, and which is why I got into the energy sector, which is one that I really, really love. And anyone who's a high paid professional, especially a high income earner. It's one of the things that you really want to listen and understand more about, you can even go to Christian cp.com forward slash going along and find out more about that. But but but let me tell you more than the fears that you can have, what can you do to overcome it? And believe it or not, I'm going to take you back to the basics. Because for those of you who have already heard me talk about the four step process that you want to follow, whenever you are looking to make an investment, you probably applied it to one very specific type of asset. But here's the hint. You can apply it to a lot of different things. It's the process that makes the most sense. So let's imagine you're going from investing in real estate and now you want to begin to invest in the energy sector in oil and gas. So what what's the process to follow? While the process is the exact same process? That's the good news. The first step that you want to do is be crystal clear on what is the outcome that you are trying to personally receive. Right? And let me break that down for you that can be really what is your TrueNorth? Are you looking to generate more cash flow? Because that cash flow is going to help you and your family do a certain thing? Are you looking for appreciation that's going to happen over time because in a five to 10 year horizon, you have a specific event that you are planning for? Are you looking for something that is going to give you the feeling of being a part owner in something that is in a wonderful, beautiful place? Whatever you're going to invest in, even when you're moving into a new class, a new asset? First Everything starts with you and personally what are you trying to achieve? Once you're crystal clear on that, then it's time to move to step two. After you've defined that, well, you're going to move into the location, right? And the location here. Well, it depends on what it is that you're trying to do, right? That it's very clear in real estate that you're going to go to a specific location. Because every home has an address 123 Main Street, it's one of the things I really really love about real assets, you can touch them, they're tangible, they're real. The same thing here is the location. So for instance, if I know that I'm looking for, to invest in the energy sector, there are some pretty well defined places in the US that you can invest in Texas, being one of them, is probably one of the most known especially if you're in the oil and gas sector in Texas, as well known. Also, a lot of people know about what's going on in Pennsylvania, or West Virginia, if you're into different types of coal, or minerals, or rare earth elements, these types of things. So just understand, once you're clearly defined, what's the location that you want to go to, and that's really, really closely linked to part number three. And number three, is actually the team. And for me, this is the most critical, especially because I've been a long distance investor my entire investing career in real assets. And it's really about understanding the team. Who are the team? How much experience do they have? How many difficult times have they gone through, I think one of the things that I want you to really think about is when you're speaking to a team, or you're looking to invest in a team, understand the challenges that they faced, and how did they overcome those challenges, make sure that they understand the specific area, the specific location that you're going to be in, because those are two very closely linked pieces. And also be able to ask the team, all of the questions that you have on your heart and in your in your gut. And if they can't answer it collectively as a team, then that may not be the right team for you. So you just need to look for another team. And then lastly, and then this is the most important part, because it's the same part of the process, what is the specific opportunity? And when you look at the opportunity, what is that opportunity providing you? And it should link very closely with part number one, step number one, which is personally what is it that you're looking to achieve? Is this particular investment, something that is going to provide you with cash flow? Is it going to provide you with tax benefits? Are those tax benefits against your income tax? W two, which many of them are not, unless you are in a certain energy sector? Or is it something that is more related to passive losses? Those types of tax benefits make creating tax efficiencies? Maybe we can talk about that another time? Is it something that's giving you lots of depreciation? Or is it even giving you access to capital? Because there are a lot of different things that it could do. But here's the thing, here's what I want you to just be very crystal clear on the good part is, yes, you can have a fear about looking into a new asset class. But as you evolve as an investor, that is one of the things that's going to always happen. And so what I want you to be able to do is cling on to something that you've already heard before, which is the P LT o the four step process to understand, personally, what is it that you're looking to achieve, that's going to drive your TrueNorth, whereas the location that you're going to be investing in this real asset? How well does the team understand the location, and then Nextly, the opportunity that is specifically for you, lining those four things up is going to help to take away so much of that fear. And it's going to give you a process to follow. So that you can actually make an informed decision as to whether this is doing what you need it to do in from an investment opportunity or not, and then move on to the next thing. not that complicated. But because this comes up over and over. And I know there's a lot of fear about moving from one asset class to the other. I did it moving from real estate into, you know, investing with other people and doing it passively. And then investing in the energy sector. It's one of those things that just happens as you evolve, your opportunities will evolve. And you want to have a process that you can follow. So hopefully this is all making sense. And I would love to get your feedback. I'd love to get your comments. Hopefully this is helping you if you're feeling stuck, you're feeling analysis paralysis, and you're just feeling like Hey, I can't move into the next exit class. Now you have a four step process to follow. You've always had it. And so really looking forward to hearing from you. While you're going out applying this four step process. I'll be here preparing for the next solo solo episode. 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 long.

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