Welcome to this episode featuring Dallon Schultz, President, and co-founder of REV Real Estate and REV Equity Group.
With a passion for real estate investment and a drive for success, Dallon has made a significant mark in the industry since 2018. Currently overseeing projects totaling over $50 million, Dallon’s ambitious vision aims to surpass the $250 million milestone within the next 12 months.
Dallon is dedicated to inspiring and empowering individuals on their journey to financial freedom through real estate. His podcast, “The Millionaire Mind: A Journey into the Mindset of Successful Business Owners,” offers invaluable insights from some of the industry’s most accomplished figures.
In this enlightening episode, Dallon shares his wealth of knowledge on various topics, including the importance of asking the right questions as a passive investor, the transformative experience that led to his career in real estate, and the significance of establishing passive income streams as a backup plan.
Listen in as Dallon emphasizes the critical aspects of vetting operators and markets for successful deals, managing capital calls, and mitigating risks in development projects amidst today’s market challenges.
Join us for an engaging discussion as Dallon unveils strategies for navigating the dynamic landscape of real estate investment and reveals the keys to achieving financial prosperity. Tune in now to gain invaluable insights and take your investment journey to new heights!
Get my new book: https://bronsonequity.com/fireyourself
See Full Transcript:
Bronson Hill: Alright, so if you’re a limited partner, you want to be invested in deals, asking the right questions is the most important thing. It’s been said that the quality of your life is determined by the quality of your questions. And I think that’s very true when it comes to be a passive investor.
What questions you’re asking, how you’re vetting your deals, really, really, really important. This is probably the biggest part of a financial education for an investor that I can see. And so, my guest today, Dallon Schultz, he basically has a lot of information on things that he does, how to vet a sponsor, looking through situations, questions you should ask, some great stories.
I think you’re really going to enjoy it. Let’s jump in. Let’s go for it.
Alright, Dallon, welcome to the show. So excited to have you at the Mailbox Money Show today, man.
Dallon Schultz: Yeah, Bronson. Thanks so much for this invite. Glad we were able to connect.
What was that? Probably a couple of months ago.
Bronson Hill: Yeah, we were at a live event in Pasadena, which was great. You flew in for that and spoke at that. And I was drawn to your bald head, someone of mine, as well as your amazing mustache.
Like you have like the closest to Raleigh Fingers mustache that I think I’ve seen a long time. So, it’s awesome. It’s great to be able to connect.
So, give us a little bit of a background on you. I think you have a very interesting story, very compelling, and I love your approach to a lot of things. And you’re a very intelligent person when it comes to how you approach investing and just some of the different things you’ve got involved with.
But give folks a little bit of background into who you are and how you got started here.
Dallon Schultz: Sure. And real quick, you mentioned intelligent. I wouldn’t so much say intelligent, but maybe intentional.
Bronson Hill: Intentional. Yeah, okay.
Dallon Schultz: I wouldn’t say I’m the most intelligent person, but I do incorporate some strategic thinking into our moves along with at the end of the day, you just got to take action. But, and again, really appreciate you having me on and loved our short conversation we had in Pasadena and looking forward to connect further. So, a little bit about me, I run a private equity fund now.
We focus on multifamily acquisitions. Do have some experience in self storage, ground up development. I wouldn’t say by any means I’m an expert in that because we did one deal and that was it.
But it’s been a lot of fun, a lot of learning experience. We actually just got our certificate of occupancy for that last week. So, that was a huge turning point and exciting.
But I didn’t start here in the real estate space. Ironically, if it’s all right, I’ll take it back to my childhood.
Bronson Hill: I’ll begin with a young boy in a dream, right?
Dallon Schultz: A young boy in a dream without a mustache and plenty of hair. So, my grandfather actually owned at his busiest time about 300 units of multifamily. And my father was the landlord, he managed all of it.
So, I grew up around this my entire life. And my understanding, my mindset on real estate was that of a landlord. Because that’s my dad, that’s what my dad did and I work with him during the summers and I would do all that dirty girl work, right?
And it was great as a teenage kid. I always had summer work and I got paid good.
I learned a lot of useful skills, but that was my mindset and understanding of what real estate ownership was. It didn’t even occur to me to ask my grandfather how he even got into buying these because here’s the thing, like you don’t know what you don’t know. And as a kid, out of my grandparents, that grandpa was probably the most frugal he gave.
And this is going to sound really low. So, don’t judge me, people will. He gave the least amount on birthdays, least amount at Christmas.
And so, as a kid, you associate money with wealth. And so, as a kid, I’m like, oh, maybe that’s why I didn’t have any interest in asking him because I thought he was the poor grandfather that I know. He was building up this multimillion dollar empire behind the scenes.
And I had no freaking idea. So anyways, that was my understanding of real estate and it sucked. This was in upstate New York.
You know, I was up at three or four o’clock in the morning before school, shoveling sidewalks, throwing salt on the sidewalks to de-ice them. So, tenants wouldn’t slip and hurt themselves. I was up on roofs in the middle of the humid summers in New York, shingling and doing all that stuff, changing out nasty toilets, changing out growth, sink drains that were clogged with hair.
Bronson Hill: All the fun stuff.
Dallon Schultz: Yeah, all the fun stuff. So, I was like, yeah, great skills, not for me. And I actually went into the medical field because I had a desire to make an impact, to serve people.
I had air conditioning in the summer. I had heat in the winter. It was great.
But a few months into that career, I actually broke my leg playing soccer.
Bronson Hill: Oh, no.
Dallon Schultz: And one of the big reasons I got into the medical field was for the safety and the stability, the security, right? I knew people were always going to get sick and hurt.
Bronson Hill: Right.
Dallon Schultz: So, I knew I’d always have a job and I was going to specialize, make a few hundred thousand dollars a year. And then I always wanted to get into real estate. I just thought it would be years down the road.
Bronson Hill: Yeah.
Dallon Schultz: So, that incident though, it was literally my breaking point. Because at that time, I got four kids now. I had two kids at the time and they were the first thing that came to mind.
How could I actually provide for my family if I can’t work? The time I was working in an emergency room. And so, if you can imagine you’re running codes and there’s traumas and you’re on your feet for 13 hours, it was a long days.
And yeah, that was a broken leg. So, that was my oh crap moment. I was probably around 25, or 26 at the time.
I realized something had changed. It was because of that incident, as hard as it was, it started my education in the real estate space. And our first purchase was a four-plex without any of our own money.
And then I started learning about syndications. I started learning about funds and fast forward a few years. Now we’re managing a multimillion dollar fund and helping other people get involved in apartment ownership.
So, it’s been quite the journey to say the least.
Bronson Hill: Yeah, absolutely. And that’s what I found. It’s a lot of this starts with something small, right?
And something from, it’s kind of cool with your background that you had some of that in your blood or some of that in your background that your family members had done. And I have a couple of relatives. I had my grandfather, my mom’s dad was a vice president of Ford in the 60s.
And then he retired early and did a bunch of other investing things and stuff and lived in Hawaii and then Costa Rica and did all, it did some really amazing innovative stuff and then ended up kind of, it all kind of got lost after he died, which is unfortunate. And then I’ve had actually, that’s an interesting thought too. My, my dad’s talked about this where sometimes you’ll have success in your family and sometimes it can skip a generation of don’t tell your parents, but sometimes it can skip a generation, right?
But it can cause just a lot of ability to be successful through just kind of having that background and knowing it’s there. It’s almost like to, if someone is parent, if their parents or their family has alcoholics in their background, you’re more likely, you know, five times more likely to be in a hall call or something. There’s also positives too.
There’s all the positive things that you’re able to get. And I know, I get where your social media posts, it looks like you injure yourself in soccer and you also had like a bike accident where you had elbow, like dueling elbow surgeries or something, or was that at the same time? Just tell us that story real quick.
Dallon Schultz: Yeah. So I’m very accident prone. I don’t have weak bones.
I just do stupid shit and I injured myself doing it. So here’s a really cool thing. And I’m glad you brought this up, Bronson.
So my, I broke my leg. I shared that story and that triggered the desire to get into real estate. And we bought our first four plugs within a few months of that incident.
Like it was pretty quick, like something in my brain just shifted and I made it happen. And that’s a whole another story for another time, but fast forward a couple of years, this was March, 2020. Okay.
We all know what happened in 2020 with COVID and stuff. I was renting a mountain bike that I was going to purchase that weekend because I wanted to get more involved in mountain biking exercise. I love it.
I’ve found it’s one of the few activities I could do where my mind and my body are in the same place at the same time. Helps me be present. So anyways, I rented this mountain bike and I came off a jump, hit my front brake too hard.
And I just flung over the handlebars. Not just like a man, like catapulted, right? Like straight into the ground.
And I came down on both elbows. It shattered both of them. And it was a $35,000 surgery.
Anesthesia for about eight hours.
Bronson Hill: Oh my goodness. And you see, you had them both at the same time.
Dallon Schultz: I couldn’t just do one. Like most people would just do one. I did both of them.
Bronson Hill: Well, and then you can’t take care of yourself.
Dallon Schultz: It was very difficult. Fortunately I have a very, very supportive and loving wife. But I remember, but I’m super stubborn too.
I’m prideful. So for her to help me with things. So I remember pouring like one of my hands, I had some rotational movement in it, we’re pouring my pills on the counter and like slurping it up off the counter because I didn’t want her giving me my medication.
Bronson Hill: Yeah.
Dallon Schultz: But that was the reality of it. And we laughed about it and it was fun, but here’s the cool thing, literally three weeks before that incident. That very first fourplex I bought because of my broken leg.
And I told myself, I said, if something was like this was to happen again, how would I provide for my family? That was an earning question that really drove the purchase of that first fourplex just a few weeks before I broke both elbows at this couple of years later, we sold that first property. So now I’m sitting on over six digits bank account, and then I break both elbows, talk about a night and day experience that that first incident, I was going to financially provide.
And then the second incident just solidified even more that I was on the right path. I mean, had I not made that choice, that decision earlier, I would have found myself in the same freaking spot that I was in two years ago.
Bronson Hill: You know, it’s really a great point, Dallon. I think it’s huge for anybody listening. It’s just something will happen and we’ll get to a circumstance and it’s like, oh, like there’s kind of this, oh crap moment of like how am I going to work or how’s this going to work out or the job isn’t, I don’t even like this as much as I thought, or maybe what happens if I have an injury?
What happens if I get disabled? What happens if something happens to me? How’s my family going to be taken care of?
And that’s where the part of developing the Mailbox Money, being able to Fire Yourself so that you’re not tied to something. Like you said, the second example you gave, you had a hundred K in the bank, you had multiple cushion there that you didn’t have before. I think that’s where, for a lot of people when they start to have that revelation, Oh, I can actually create this on my own.
And this is the problem I find with a lot of Wall Street stuff is that having been a call myself, I was a RIA, which is a registered investment advisor. I’m still an RIA, but it’s a recovering investment advisor. And so I’ve realized over the years in my book, there’s a chapter on this about watch out for Wall Street, there’s so much misalignment of interest between investors and so there were over 50% of people managing large investment funds have zero dollars invested in with their investors.
And so it’s kind of crazy. Like it’s kind of this, the misalignment there, but I think for people, risk is a big deal. Making sure what you have, you can keep and what you can keep you can grow.
And so that’s kind of really what I wanted to get in with you today about is protecting your investment, really vetting deals. You had some unique things you were sharing a little earlier about how LPs can vet deals. Cause again, a lot of times we just think, Oh, you know, when you’re first starting out, every deal looks great.
Oh, I’m going to triple my money in five years or double my money in five years. That’s great. But you know, a lot of things can go wrong between here and there.
And so what are some things that you’ve learned that you wanted to share to individuals about, it’s been about vetting deals and vetting operators and that process.
Dallon Schultz: A hundred percent. And there’s actually three things I’d like to touch on. So I’m going to say them now, Bronson.
So when I forget five minutes from what you can prompt me, okay, my mind goes a hundred miles an hour. The first one that I’ll share briefly is what I would consider the number one mistake that passive investors make when vetting an opportunity. So I’ll talk briefly about that.
The second one, especially right now is understanding the financing terms in the deals that people are getting involved in today, given the market and the economy we’re in. And number three is capital calls. That’s what it was.
Bronson Hill: Capital calls.
Dallon Schultz: So number one mistake that I see most passive investors making is that they spend all this time betting the deal itself. Bending the deal itself. Meaning somebody sends you 150 unit apartment building in Dallas, Texas.
Here’s all the rent growth. Here’s all the information on the property and people are just digging in and underwriting that deal. I say that’s a number one mistake because that’s a lot of the information that’s being given to you as a passive investor.
Let me ask you this. When was the last time you received an investment opportunity that didn’t look good on paper? They always look good.
Bronson Hill: They always look great. Yeah, for sure.
Dallon Schultz: So people get hung up underwriting this deal and they decide to invest. And then that deal goes south and they wonder why come to find out. It was the operations team.
This was the first deal ever did together. They joined some mentorship group six months ago and they like bootstrap this thing together and they decided to go for it. So our recommendation with anyone looking to get involved and any investment opportunity, not just real estate, is spend 80% of your time vetting the operator.
If I present you a deal, if Bronson presents you a deal, spend 80% of your time getting to know us and our team. How do we operate? How do we think?
When did things go wrong? What did we do to address it? That should be 80% of your time.
Ask the tough questions. The other 10%, you should be vetting the market. Where is the deal located?
Is it in Dallas, which is, or Houston or Phoenix, where you have a lot of job growth, population growth, or is it a small ponunk town in a tertiary market? Not saying that those deals are bad, but at Rev, we really try to stack the deck, if you will. And we do that by choosing the right operator and choosing the right market, and then the remaining 10% should be spent vetting the deal itself.
Bronson Hill: Sure.
Dallon Schultz: So the operator, then the market, then look at the deal. Because if you have a good operations team, they’re going to be able to manage that deal effectively.
Bronson Hill: Let’s make a comment about that too. I think that’s really true. A lot of people look at the deal and they don’t really think about the team.
And really, if a deal does not work, usually it is the team and that’s where and even how you do that a lot of times is looking at their website, their values, having a conversation with them, talking to previous investors, all that stuff. And what are some other ways you think people can vet a group that they would work with or if you’re going to spend the majority of time there?
Dallon Schultz: So this is kind of cliche and people might think it’s kind of cheesy, if you will, but some of the operators we’ve partnered with, I’ve been watching them for a couple of years on social media. I’ve been watching them, seeing their deals, seeing what they’re doing, see how they’re interacting with people. I connect with people that have previously invested with them as an LP and say, Hey, what has been your experience?
What are some things that you like or some things you didn’t like? So we do that due diligence that you can do that in the background. I mean, a lot of these people are all over social media.
Go out visit them, shake their hand, take time t0 really get to know them. And I mean, it’s your capital. It’s your investment.
Some investors are putting up a few hundred thousand dollars and they’ve never even met the person they’re investing with.
Bronson Hill: Right. Yeah, totally. That’s it.
No, it’s, it is amazing. Yeah. Some nice people.
Dallon Schultz: That’s one simple thing you can do.
Bronson Hill: Yeah. No, that’s really true. I think that a lot of people are, they don’t really get to know folks, I thought I was kind of crazy when I first started hearing about these, this world that people will invest with people they’ve never met or they don’t know, or they don’t, they’ve never like, how do you know this person is real?
And there’s ways you can figure it out. Obviously, the more connections someone has and where you see them at events, the more you’re kind of listening to what they’re saying and you’re kind of like, okay, this person is actually seems like they’re really just trying to add value. And that’s how we found a lot of investors.
It’s just, we’re trying to answer questions. A lot of people are asking, which I know you are as well with your podcast and show that you’re doing. Um, okay.
So you want to talk about that. And then there was Pat capital calls and there was something else.
Dallon Schultz: I think financing and I’ll touch on real quick. So especially financing right now, there’s a lot of distress deals coming to market. You and I are aware of this.
A lot of people in the space are, and it’s because people got into the short-term loans two or three years ago that are coming due, but now we’re not in a favorable refinancing market. So if you are getting involved in deals today or this year, make sure they’re set up to whether whatever’s going to happen these next two to three years. So for example, one of the most recent deals our team got involved in.
It’s a seven year fixed loan with seven years of interest only at 4.85%. So incredible financing terms. And so the terms don’t necessarily need to look like that, but just whatever deal you’re getting involved in, make sure you ask the operators and you understand what type of loan are they putting into place? So that’s huge.
And the third thing I wanted to touch on was capital calls because of these deals that people got into maybe more aggressively than they should have a few years ago, there’s a lot of operators doing capital calls. And I’m not saying that a capital call is bad. It’s sometimes it happens and nobody expected to have what happened with interest rates, nobody planned for that.
Nobody expected it, right? But there’s still some operators out there that even with these changes have not performed any capital calls and there’s some that have. And so as you’re looking to invest with somebody, I always encourage investors to ask the operator, have you ever performed a capital call?
And if they said no, that lets you know that, Hey, even two or three years ago, they were probably pretty conservative with their projections, or they had a lot of reserves on hand for the unknown. If they did perform a capital call, it’s not a deal breaker. So don’t, don’t misinterpret this.
It’s not a deal breaker, but just requires further questions. Ask them say, okay, I understand that what happens last year was unprecedented. What did you learn from it?
And how are you and your team preventing it from happening in the future? And just see what they say. If they’ve really implemented a plan to prevent a capital call from happening in the future, they should be able to spit it out like that.
Bronson Hill: Yeah, absolutely. No, it’s really a great point. And we’ve had a couple of deals that have a capital calls and they’ve all come from bridge dad, I think in the middle to having value add stuff the last few years, there’s been a lot of unforeseen things and some things you can say, you know, this, these things could have been managed better.
That’s one of the reasons that we’ve shifted both to other types of assets, ATMs, car washes and oil and gas and other things, as well as we’re doing with multifamily deals, we want to make sure we have fixed debt.
Sometimes its better to say the best deal sometimes is the deal you didn’t do, and it’s hard to be honest, it’s hard as an operator to say, no, when you can raise millions of dollars, like a very deal, it’s hard to like, be like, Oh, I’m not going to take this money and invest. Because you’re excited about raising the money and you’re excited and there’s kind of a, like as an operator, you can kind of feel a little bit like, we’ve got to keep doing deals in order to just keep the lights on and to pay employees and pay myself, like you get, like it’s a business as well.
And so, I think as I’ve, you know, hopefully become older and wiser, I can’t say I have less hair, maybe I’ll have more hair and have a mustache like yours, but there’s lessons that come and it’s like, okay, well, it’s better to do things that you really are understanding. And I always ask too, what’s the one or two primary risks that I see about this deal and then asking the operator, what do you see other risks there too? Those are also always good questions to ask as well.
Dallon Schultz: Investors on that note too, Bronson. Investors are understanding, like, as long as you’re communicating with them, investors are understanding, so you do have to perform a capital call, like as unfortunate as it is, don’t hide it. Like be upfront, be honest, like let your investors know, Hey, this is what’s happening. This is what we learned from it.
This is how we’re preventing it from happening in the future. But with that being said, this is still the position that we’re in and that’s, listen, that’s part of the risk coming on as a passive investor and as an equity owner, you are an equity partner in that deal. So some of that risk, but you’re also entitled to a portion of the upside, that’s one of the benefits.
And that’s when the give and takes, if you want something slow, steady, boring, guaranteed, go get into your 5% CD at your local bank or something, right? But like most people that are getting involved in these types of deals, they trust the operator and they want a piece of the upside. And so they’re willing to take on some of that risk, but just open, communicate with your investors.
Bronson Hill: Yeah, absolutely. No, that’s a great word. And I think, it’s communication is so important and that’s why, that’s why I like to talk about it too.
A lot of people don’t talk about capital calls. I’m talking but they’ve had some, I think it’s important to talk about it because when it happens, it’s important to, I know one guy I talked to, he’s like, I’m in five capital calls right now. And I’m like, Oh my gosh, how to work through that and what are you doing?
What do you learn from that? And what are, so there’s some learnings that happen there and it’s easy to, in general in life, it’s easy to blame, but it’s the thing of the lessons that we gather from it is really important. I wanted to talk about one more thing with you here.
We’re doing a couple of development stuff. It’s a development projects you have done development in the past. We were talking, we were going to call this the title of this podcast is going to be like, why it’s a good time for development.
You’re like, I don’t think this is a good time for development. I was like, Oh, let’s talk about that. That’s great.
So, tell me, I mean, obviously interest rates are higher. So costs are higher. Are you seeing just across the board that development really doesn’t make sense right now?
Or would you say there’s certain areas you’re saying, Oh, maybe a development of this type of asset, or is it just kind of across the board from what you’re seeing? You just don’t feel it’s a good time.
Dallon Schultz: So this is my major disclaimer for this. Okay. And I’ve done two development deals.
One, we entitled the land and sold it. And then the other one we just finished was, which was the self storage. So you talk, my take on this is going to be different than someone that’s been in development for 30 years.
Cause they’re going to have their systems, teams, processes, preferred. They’re going to have all that stuff in place. They’re going to have it way more dialed in.
So these comments I’m going to share are geared more towards those people that have been considering development that have never done it yet. I’ll just say like newbies, newbies and development space. Okay.
I’ll direct it towards them. Three years ago, when we started that development project, I’d say it was a great time, good interest rates, prices were down on products, right? Just over these last three years as with us finishing this project, interest rates went up, inflation went through the freaking roof.
Our projected budget for this project increased quite a bit, just over the span of that time. So if I was to look at the same project in that same area in today’s market, I’m telling you right now, I would not do it because financially it wouldn’t make sense. Now that was a self storage development in a tertiary market.
This isn’t a class A mixed use development in Phoenix or Houston or Dallas or some major MSA. So that’s why I’m speaking from my experience, but take from it what you will. Interest rates too.
And just trying to get loans on development right now is pretty tough. Now we were fortunate when we got into this project a few years ago, that we got a good interest rate on our construction loan for 18 months interest only, and it just converted over to fixed financing. We didn’t have to worry about a refinance or anything.
Had we had to refinance in the last few months since we finished this, we probably would have had to do a massive capital call to make it work. We would have had to infuse more capital into that deal to get that equity up for it to make sense for the lender. So that’s why I just think now is I’m not saying it’s a horrible time.
If you do want to get into development, make sure you’re partnering with someone that has a significant amount of experience. And that has been through development back in 2008, 2009. Because from what I’m hearing, I wasn’t involved in real estate back then.
What I’m hearing is what we’re going through now seems really similar to what we did back then just with the economy and stuff.
Bronson Hill: Yeah. Yeah. I know it’s definitely definitely a consideration.
If things pull back, what’s that look like? What does debt look like? And I think in some construction debt, there is for development, some is fixed, some is not.
And some is, and there’s different ways to look at it. I look at some points if rates do drop a little bit or if the economy, it’s hard to say. We actually technically we were in a recession in 2022 Q1 and Q2, but they said, oh, we’re not actually in a recession.
And then we’re, they said, oh, it’s the labor market was good. We’re not in recessions. They kind of keep the government where you redefine what they build recession is.
But I think that for 2024, we’re going to see some of these lingering things. And, and it probably too depends what the asset is. I mean that’s the risk of any development, right?
Is that for the year or two, three years it takes you to develop whatever the thing is, what does the market for that thing look like? I think that’s something to consider. And so, yeah, it’s challenging and you are, you are much more dependent on the cycle and kind of where we’re at in that.
And so we’ve done a little bit in senior housing as well as medical, just because we feel like those are a little more protected from, especially with the demographic of the aging population and things like that.
Dallon Schultz: But you bring up a real good point. Bronson is the demand for those things that you’re going after is still there and it’s still strong. So again, you might have an asset class or something that you’re considering developing, maybe it’s assisted living or, or senior living or something like that, or medical.
If there’s a really strong demand for it and the numbers make sense and you have someone on your team with experience, go for it. Like any development, whether you started three years ago or start today, reality, we don’t know what’s going to, what it’s going to look like two or three years from now.
Bronson Hill: Yeah. Yeah. 100%.
That’s it. Well, Dallon, I really appreciate you, man. I appreciate your perspective.
You obviously have a lot of greater experience. I remember senior at the event. I really enjoyed your perspective on a lot of things and just your humble approach to stuff.
And of course, you’re a good looking bald head and your mustache. But, I want to celebrate all those things for you, encourage people to reach out to you. If people do want to reach out and connect with you, what’s the best way to be able to do that?
Dallon Schultz: Honestly, they can go to our website. It’s investwithrev.com. Rev is R-E-V, investwithrev.com.
We have a ton of free resources and stuff on there. We even have a checklist of some of the top questions you should ask operators. So that’s a free resource.
You can go on there. You can find it. I know that’s one of the things we talked about.
It’s a little over 60 points that we review before we partner with operators. And so those same questions and points that we go through, we offer it to anyone that wants it. So you can go to investwithrev.com and under the resources tab, you’ll find it there. So that’ll give you some general information about just our company. But if you want to connect personally, I’m on LinkedIn. I’m making a very intentional decision to be more active on there and to connect with people.
So we’d love to connect with you on there. And then, uh, we could always connect, exchange personal information from there.
Bronson Hill: Awesome. Awesome. Dallon.
Well, great to connect with you. Appreciate you, man. And we’ll look forward to being in touch.
And I think I’m coming on your show here soon, which is the Millionaire Mind, right? That’s what it’s called Millionaire Mind. Looking forward to being on there.
And, thanks again for being here, brother. Appreciate you.
Dallon Schultz: Yeah, I appreciate it. Thanks a lot, Bronson.
Bronson Hill: All right. I really enjoyed this interview. I enjoyed Dallon sharing about some of his injuries.
Interesting. It was two injuries. One where he had hurt himself.
I guess he’s just, he said accident prone, but, hurt his knee, and then he was home and he didn’t have any money in the bank. That was very difficult and then he had an issue where he had double hit both elbows, like in casts or something, he couldn’t move them.
And he had six figures in the bank to be able to cover, just gave him a whole different feeling of it, hold of an experience of going through that, of knowing that he was going to be okay. So these are the questions we really asked when it comes to fire yourself and in the Mailbox Money show is how do you set yourself up so that you can work how you want to work and when you want to work and do it in the way that is going to make a difference in the world that you want to work in. So if you’re in a job or you have a business and you’re like, I don’t know how to get out of this.
If I stop working, if I sell the business, I just don’t have any cash. Well, that’s what Mailbox Money is about. It’s about developing the skills, like a muscle that you can learn and grow to become a great investor that you can have a predictable return in different types of investments.
You have some diversity in case one deal doesn’t go as well, or one goes better. You have some diversity in that, but I found just in general, my experience both as in the past, no longer, but as an investment advisor, I just found it very limiting to only be in wall street type of investments and not have availability to get into this. So I call it the gateway drug.
It started in multifamily or in other types of passive investing and it opens up the world. It’s like, oh my gosh, this is amazing. Why haven’t been to doing this longer.
So I hope you enjoyed this episode. We’d love to know your thoughts on it. Please feel free to reach out.
If you haven’t joined our investment club, you can check that out at bronsonequity.com. We’ve got some things, a couple of things right now. I’m just super, super excited about.
So check those out. Look forward to seeing you in the next episode of the Mailbox Money Show.
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