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'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  00:22

Welcome to the gun on 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 yet, I'm your host, Billy keels, and we are back once again for another solo episode, I get to just the just the two of us just the two of us, as they say. So really looking forward to this. I also want to say thank you, for those of you who are continuing to be here, week after week, to listen to the solo episodes to listen to the guest episodes as well really appreciate you. And also want to say listen, if you are leaving your honest written reviews, as well as ratings, thank you, if you're still thinking about doing it, go ahead and do that. And don't forget, you can tag us across social media, we'd love LinkedIn, we love Instagram. And for those of you who are already doing it, thank you so very much really, really appreciate it. And if you've ever wanted to hear any of the previous episodes, because like we're well beyond 300, at this point, just go to first uncp.com forward slash podcast and you can find all of your favourite episodes or one that you want to read recent to friends or family or whatever, go check it out there. Today, I do want to address something that may be a little bit controversial, maybe a little bit sensitive topic to talk about. But it's this is one of the things that I had a recent conversation with one of our investor family members. And it really had to do there was an uncomfortableness, because the investor family member thought that it was time to make a change in their team. And what I mean by that? Well, one of the things that typically that that I've seen is, you know, when you get started, you're in a particular place. And so you have the tendency, and I'm speaking specifically about investing, right, just someone who's a professional investor, and has had a growth over the number over a number of years. And it's starting to recognise that the level of knowledge that this person has, is far superior to the level of knowledge that they started with, you know, a couple of years ago, let's call it three, four years ago. And over time, it's okay, like I even felt the same. Sometimes as you get started, you don't know what you don't know. But the more that you want to understand about investing, for instance, you're that high wage earner who's having a tax problem, because you've invested in real estate and real estate is really good, because it's extremely tax efficient. But now you've realised like you still continue to pay 40% plus an income tax. By the way, if you feeling like that, go to first ncp.com forward slash going long, you'll get some education that kind of help you with that, but back to the subject. And when we get started, and we're building a team, and whether you are building a team, because you're a professional investor, and that is your your legal team, maybe you have someone that is a part of your legal team, and they're maybe a general counsel, or maybe they're a real estate attorney, or an estate planning attorney, or any different one of the disciplines within attorneys, or maybe that's someone who's a broker, maybe they're a real estate broker, commercial broker, or they are someone who is an insurance broker, the number of different people on your team that you're getting advice and learning from in the beginning, as you evolve as an investor, chances are, you're going to outgrow your team. And that's okay. That just means that you're doing the work. Because when you get to a point that you understand more about your specific situation, than the specialists on your team, that's one thing, if you feel like they can't really even understand or don't want to leave their level of specialisation, then that's something completely different. But it's okay. If every couple of years that you change your team, meaning or, or maybe a specific member of your team, because maybe you've learned really more about taxes and income taxes and how they affect you. And you may live in a specific state that has different rules around income tax, you also understand more about what happens at the federal government level, the more that you understand, the more that you can then enter into different conversations. And when you get to a point where you feel like you know more than the specialists on your team and they're not willing to do the work to raise the bar. That's what I mean specifically, they're not willing to use the the use their time, their energy to raise the bar to be able to enter your questions. Your specialist on your team wants to stay in the comfort zone. Well then guess what? You're continuing to grow because you're pushing yourself outside of your comfort zone. And that's a really good thing. And I just say that because I'm almost I don't want to say 100% positive but there's someone you're watching, you're listening, you're thinking yourself you know what, I've had this feeling like I'm really outgrown because I'm asking questions. It's taking them too. long to get back to me, or they're given me the same response. When it's time to change a member of your team, it's time to change a member of your team, because you've been doing the work, you've been growing, you've been expanding, and maybe that specialists on your team, great that you must have specialists on your team if you want to continue to grow. And it's okay to outgrow members of your team. Because what you've learned along the way, has been absolutely fantastic. And they're going to help you to be better prepared for the next member of your team, it's going to take you to the next level. Alright, so specifically, I wanted to talk to that person is feeling a little bit uncomfortable about changing the member of their team, because they've been around for a while. And you know, they've been around for a while. But now it's time for you to go to the next level. And if that member of your team is not willing to do the work to go to the next level, then it's time for you to go the next level with the next specialist who's going to be on your team. So don't feel bad, don't feel uncomfortable for wanting to make that change. It's part of your progression. It's part of your evolution. So with that stated, hopefully that liberated a bit of tension from because you've been trying to figure out how to stay out or stay out of it, what do I do and, and it's okay, maybe it's just time to make a change. So take this, listen to it a couple of times, reach out to me, you know, make it easy. Leave your review. Let me know if you liked this, you didn't like it, whatever the case may be one way or the other. Share today's conversation with someone else. And while you're doing that, and you're talking about the content, I'm going to be here preparing for another solo episode. So until then go out and make it a great day and thank you very much. Trusted 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 firstncp.com forward slash going along.

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